Seagate 2014 Annual Report Download - page 79
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SEAGATETECHNOLOGYPLC
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS—(Continued)
Thefollowingtableshowsthefairvalueoftheseparatelyidentifiableintangibleassetsatthetimeofacquisitionandtheweighted-averageperiodoverwhich
intangibleassetswithineachcategorywillbeamortized:
ThegoodwillrecognizedisprimarilyattributabletothebenefitstheCompanyexpectstoderivefromenhancedmarketopportunities,andisnotdeductiblefor
incometaxpurposes.
TheCompanyincurredapproximately$1millionofexpensesrelatedtotheacquisitionofLSI'sFlashBusinessduringthetwelvemonthsendedJuly3,2015,
whichareincludedwithinMarketingandadministrativeexpenseontheConsolidatedStatementofOperations.
TheamountsofrevenueandearningsofLSI'sFlashBusinessincludedintheCompany'sConsolidatedStatementofOperationsfromtheacquisitiondate
throughtheendoffiscalyearendedJuly3,2015werenotsignificant.
XyratexLtd
OnMarch31,2014,theCompanyacquiredalloftheoutstandingsharesofXyratexLtd("Xyratex"),aleadingproviderofdatastoragetechnology.The
Companypaid$13.25pershare,orapproximately$376millionincashfortheacquisition.TheacquisitionofXyratexfurtherstrengthenstheCompany'svertically
integratedsupplyandmanufacturingchainfordiskdrivesandprovidesaccesstoimportantcapitalrequirements,aswellasexpandstheCompany'sstorage
solutionsportfolio.
Thefollowingtablesummarizestheestimatedfairvaluesoftheassetsacquiredandliabilitiesassumedattheacquisitiondate:
76
(Dollarsinmillions) FairValue
Weighted-Average
Amortization
Period
Existingtechnology $ 84 3.5years
Customerrelationships 40 3.8years
Tradenames 17 4.5years
Totalacquiredidentifiableintangibleassets $ 141
(Dollarsinmillions) Amount
Cashandcashequivalents $ 91
Accountsreceivable,net 67
Inventories 111
Othercurrentandnon-currentassets 28
Property,plantandequipment 55
Intangibleassets 80
Goodwill 60
Totalassets 492
Accountspayableandaccruedexpenses (116)
Totalliabilities (116)
Total $ 376