Seagate 2014 Annual Report Download - page 81

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TableofContents
SEAGATETECHNOLOGYPLC
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS—(Continued)
Thefollowingtablesummarizestheestimatedfairvaluesoftheassetsacquired,liabilitiesassumed,andnoncontrollinginterestattheacquisitiondate:
Thefollowingtableshowsthefairvalueoftheseparatelyidentifiableintangibleassetsatthetimeofacquisitionandtheperiodoverwhicheachintangible
assetwillbeamortized:
Infiscal2013,theCompanyrecordedadjustmentstothefairvalueofcertainassetsacquiredandliabilitiesassumedwithLaCieS.A.thatresultedinanet
increaseof$1milliontoGoodwill,andacorrespondingdecreaseinIntangibleassets.
ThegoodwillrecognizedisattributableprimarilytothebenefitstheCompanyexpectstoderivefromLaCie'sbrandrecognitionandtheacquiredworkforce,
andisnotdeductibleforincometaxpurposes.Theacquisitiondatefairvalueofthenoncontrollinginterestisbasedonthemarketpriceoftheirpubliclytraded
sharesasofthefirsttradingdatesubsequenttotheacquisition,asthesharesdidnottradeontheacquisitiondate.
The€0.12supplementwasnotpaidasonly94.5%oftheLaCiebusinesswasacquiredwithinsixmonthsoftheacquisitiondate,resultinginareversalofthe
contingentconsiderationliabilitywhichwasrecordedinfiscalyear2013asareductionofMarketingandadministrativeexpensesof$4million.
TheamountsofrevenueandearningsofLaCieincludedintheCompany'sConsolidatedStatementofOperationsfromtheacquisitiondatethroughtheendof
fiscalyearendedJune28,2013arenotsignificant.
78
(Dollarsinmillions) Amount
Cashandcashequivalents  $ 71
Accountsreceivable   29
Marketablesecurities   27
Inventories   46
Othercurrentandnon-currentassets   19
Property,plantandequipment   12
Intangibleassets   45
Goodwill   13
Totalassets   262
Accountspayableandaccruedexpenses   (73)
Currentandnon-currentportionoflong-termdebt   (6)
Totalliabilities   (79)
Noncontrollinginterest   (72)
Total  $ 111
(Dollarsinmillions) FairValue
Weighted-Average
Amortization
Period
Customerrelationships  $ 31 5.0years
Existingtechnology   1 5.0years
Tradename   13 5.0years
Totalacquiredidentifiableintangibleassets  $ 45