Seagate 2015 Annual Report Download - page 65

Download and view the complete annual report

Please find page 65 of the 2015 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 155

  • 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
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155

TableofContents
risk.AsofJuly1,2016,wehadnomaterialcreditexposurerelatedtoourforeigncurrencyforwardexchangecontracts.Changesinourcorporateissuercredit
ratingshaveminimalimpactonourfinancialresults,butdowngradesmaynegativelyimpactourfuturetransactioncostsandourabilitytoexecutetransactionswith
variouscounterparties.
WearesubjecttoequitymarketrisksduetochangesinthefairvalueofthenotionalinvestmentsselectedbyouremployeesaspartofourSeagateDeferred
CompensationPlan(the"SDCP").Infiscalyear2014,theCompanyenteredintoaTotalReturnSwap("TRS")inordertomanagetheequitymarketrisks
associatedwiththeSDCPliabilities.TheCompanypaysafloatingrate,basedonLIBORplusaninterestratespread,onthenotionalamountoftheTRS.TheTRS
isdesignedtosubstantiallyoffsetchangesintheSDCPliabilityduetochangesinthevalueoftheinvestmentoptionsmadebyemployees.
62