Seagate 2014 Annual Report Download - page 83

Download and view the complete annual report

Please find page 83 of the 2014 Seagate annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 148

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148

TableofContents
SEAGATETECHNOLOGYPLC
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS—(Continued)
ThecarryingvalueofotherintangibleassetssubjecttoamortizationasofJune27,2014issetforthinthefollowingtable:
ThecarryingvalueofIn-processresearchanddevelopmentnotsubjecttoamortizationwas$39milliononJune27,2014.
AsofJuly3,2015,expectedamortizationexpenseforotherintangibleassetsforeachofthenextfiveyearsandthereafterisasfollows:
5.RestructuringandExitCosts
Duringfiscalyear2015and2014,theCompanyrecordedrestructuringchargesof$32millionand$24million,respectively,comprisedprimarilyofcharges
relatedtoemployeeterminationcostsassociatedwithreductionsinforceduringeachfiscalyear.Duringfiscalyear2013,theCompanyrecordedrestructuringand
otherchargesof$2million,mainlycomprisedofpost-employmentcostsassociatedwithasmallrestructuringplan.TheCompany'ssignificantrestructuringplans
aredescribedbelow.AllrestructuringchargesarereportedinRestructuringandother,netontheConsolidatedStatementsofOperations.
2015Plan.Duringfiscalyear2015,theCompanyrecordedemployeeterminationcostsof$25millionandmadecashpaymentsof$16millionassociated
withareductionintheworkforce.
AngMoKio(AMK)Plan.InAugust2009,theCompanyannouncedthatitwillcloseitsAMKmanufacturingoperationsinSingapore.Operationsatthis
facilityhadceasedasofthethirdquarteroffiscalyear2011.TheharddrivemanufacturingoperationshavebeenrelocatedtootherexistingSeagatefacilitiesand
theCompany'sAsiaInternationalHeadquartersremainsinSingapore.ThisclosureandrelocationispartoftheCompany'songoingfocusoncostefficienciesinall
areasofitsbusinessandisintendedtofacilitateleveragingmanufacturinginvestmentsacrossfewersites.TheCompanycurrentlyestimatestotalrestructuring
chargesofapproximately$50million,allincash,includingapproximately$42millionforpost-employmentbenefits,approximately$6millionfortherelocation
ofmanufacturingequipment,andapproximately$2millionforotherplantclosureandrelocationcosts.Fromtheinception
80
(Dollarsinmillions) 
GrossCarrying
Amount
Accumulated
Amortization
NetCarrying
Amount
WeightedAverage
RemainingUsefulLife
Existingtechnology  $ 68 $ (18) $ 50 2.9years
Customerrelationships   450  (192) 258 3.3years
Tradename   10  (1)  9 3.1years
Otherintangibleassets   4  (1) $ 3 4.4years
Totalamortizableotherintangibleassets  $ 532 $ (212) $ 320 3.2years
(Dollarsinmillions) Amount
2016  $ 141
2017   122
2018   64
2019   24
2020   7
Thereafter   12
 $ 370