Seagate 2015 Annual Report Download - page 59
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IrelandandourcurrentplansdonotdemonstrateaneedtorepatriatesuchearningsbymeansofataxableIrishdividend.ShouldfundsbeneededintheIrishparent
companyandshouldwebeunabletofundparentcompanyactivitiesthroughmeansotherthanataxableIrishdividend,wewouldberequiredtoaccrueandpay
Irishtaxesonsuchdividend.
Webelievethatoursourcesofcashwillbesufficienttofundouroperationsandmeetourcashrequirementsforatleastthenext12months.
CashRequirementsandCommitments
Ourliquidityrequirementsareprimarilytomeetourworkingcapital,productdevelopmentandcapitalexpenditureneeds,tofundscheduledpaymentsof
principalandinterestonourindebtedness,andtofundourdividend.Ourabilitytofundtheserequirementswilldependonourfuturecashflows,whichare
determinedbyfutureoperatingperformance,andtherefore,subjecttoprevailingglobalmacroeconomicconditionsandfinancial,businessandotherfactors,some
ofwhicharebeyondourcontrol.
OnAugust2,2016,ourBoardofDirectorsapprovedaquarterlycashdividendof$0.63pershare,whichwillbepayableonOctober5,2016toshareholdersof
recordasofthecloseofbusinessonSeptember21,2016.
AsofJuly1,2016,wewereincompliancewithallofthecovenantsunderourdebtagreements.Basedonourcurrentoutlook,weexpecttobeincompliance
withthecovenantsofourdebtagreementsoverthenext12months.
Thecarryingvalueofourlong-termdebtasofJuly1,2016andJuly3,2015was$4.1billionand$4.2billion,respectively.Thetablebelowpresentsthe
principalamountsofouroutstandinglong-termdebt:
56
Asof
(Dollarsinmillions)
July1,
2016
July3,
2015 Change
3.75%SeniorNotesdueNovember2018 $ 800 $ 800 $ —
7.00%SeniorNotesdueNovember2021 158 158 —
4.75%SeniorNotesdueJune2023 990 1,000 (10)
4.75%SeniorNotesdueJanuary2025 995 1,000 (5)
4.875%SeniorNotesDueJune2027 700 700 —
5.75%SeniorNotesDueDecember2034 490 500 (10)
Total $ 4,133 $ 4,158 $ (25)