Seagate 2015 Annual Report Download - page 100
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SEAGATETECHNOLOGYPLC
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS—(Continued)
ThefollowingtablepresentstheCompany'sassetsandliabilitiesthataremeasuredatfairvalueonarecurringbasis,excludingaccruedinterestcomponents,as
ofJuly3,2015:
TheCompanyclassifiesitemsinLevel1ifthefinancialassetsconsistofsecuritiesforwhichquotedpricesareavailableinanactivemarket.
TheCompanyclassifiesitemsinLevel2ifthefinancialassetorliabilityisvaluedusingobservableinputs.TheCompanyusesobservableinputsincluding
quotedpricesinactivemarketsforsimilarassetsorliabilities.Level2assetsinclude:agencybonds,corporatebonds,commercialpaper,municipalbonds,U.S.
Treasuriesandcertificatesofdeposits.Thesedebtinvestmentsarepricedusingobservableinputsandvaluationmodelswhichvarybyassetclass.TheCompany
usesapricingservicetoassistindeterminingthefairvaluesofallofitscashequivalentsandshort-terminvestments.Forthecashequivalentsandshort-term
investmentsintheCompany'sportfolio,multiplepricingsourcesaregenerallyavailable.Thepricingserviceusesinputsfrommultipleindustrystandarddata
providersorotherthirdpartysourcesandvariousmethodologies,suchasweightingandmodels,todeterminetheappropriatepriceatthe
97
FairValueMeasurementsatReportingDateUsing
(Dollarsinmillions)
QuotedPricesin
ActiveMarkets
forIdentical
Instruments
(Level1)
Significant
Other
Observable
Inputs
(Level2)
Significant
Unobservable
Inputs
(Level3)
Total
Balance
Assets:
Moneymarketfunds $ 1,201 $ — $ — $ 1,201
Certificatesofdeposit — 862 — 862
Corporatebonds — 6 — 6
Totalcashequivalentsandshort-terminvestments 1,201 868 — 2,069
RestrictedCashandInvestments:
Moneymarketfunds 2 — — 2
Otherdebtsecurities — 5 — 5
Derivativeassets — 3 — 3
Totalassets $ 1,203 $ 876 $ — $ 2,079
Liabilities:
Derivativeliabilities $ — $ (4) $ — $ (4)
Totalliabilities $ — $ (4) $ — $ (4)
FairValueMeasurementsatReportingDateUsing
(Dollarsinmillions)
QuotedPricesin
ActiveMarkets
forIdentical
Instruments
(Level1)
Significant
Other
Observable
Inputs
(Level2)
Significant
Unobservable
Inputs
(Level3)
Total
Balance
Assets:
Cashandcashequivalents $ 1,201 $ 862 $ — $ 2,063
Short-terminvestments — 6 — 6
Othercurrentassets 2 8 — 10
Totalassets $ 1,203 $ 876 $ — $ 2,079
Liabilities:
Accruedexpenses $ — $ (4) $ — $ (4)
Totalliabilities $ — $ (4) $ — $ (4)