Seagate 2014 Annual Report Download - page 78
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SEAGATETECHNOLOGYPLC
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS—(Continued)
AccumulatedOtherComprehensiveIncome(Loss)("AOCI")
ThecomponentsofAOCI,netoftax,wereasfollows:
3.Acquisitions
LSI'sFlashBusiness
OnSeptember2,2014,theCompanycompletedtheacquisitionofcertainassetsandliabilitiesofLSICorporation's("LSI")AcceleratedSolutionsDivision
andFlashComponentsDivision(collectively,the"FlashBusiness")fromAvagoTechnologiesLimitedfor$450millionincash.Thetransactionisintendedto
strengthenSeagate'sstrategytodeliverafullsuiteofstoragesolutions,providingSeagatewithestablishedenterprisePCIeflashandSSDcontrollercapabilitiesto
deliversolutionsforthegrowingflashstoragemarket.
Thefollowingtablesummarizestheestimatedfairvaluesoftheassetsacquiredandliabilitiesassumedattheacquisitiondate:
75
(Dollarsinmillions)
Unrealized
Gains(Losses)
onCashFlow
Hedges
Unrealized
Gains(Losses)
onMarketable
Securities(a)
Unrealized
Gains(Losses)
onpost-retirement
plans
Foreign
Currency
Translation
Adjustments Total
BalanceatJune28,2013 $ — $ (3) $ (11) $ 1 $ (13)
Othercomprehensiveincome(loss)before
reclassifications (1) 1 1 8 9
AmountsreclassifiedfromAOCI — 2 — — 2
Othercomprehensiveincome(loss) (1) 3 1 8 11
BalanceatJune27,2014 (1) — (10) 9 (2)
Othercomprehensiveincome(loss)before
reclassifications (11) — (5) (25) (41)
AmountsreclassifiedfromAOCI 13 — — — 13
Othercomprehensiveincome(loss) 2 — (5) (25) (28)
BalanceatJuly3,2015 $ 1 $ — $ (15) $ (16) $ (30)
(a) ThecostofasecuritysoldortheamountreclassifiedoutofAOCIintoearningswasdeterminedusingthespecificidentificationmethod.
(Dollarsinmillions) Amount
Inventories $ 37
Property,plantandequipment 22
Intangibleassets 141
Otherassets 6
Goodwill 337
Totalassets 543
Liabilities (93)
Totalliabilities (93)
Total $ 450