Seagate 2015 Annual Report Download - page 82
Download and view the complete annual report
Please find page 82 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.TableofContents
SEAGATETECHNOLOGYPLC
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS—(Continued)
LSI'sFlashBusiness
OnSeptember2,2014,theCompanycompletedtheacquisitionofcertainassetsandliabilitiesofLSICorporation's("LSI")AcceleratedSolutionsDivision
andFlashComponentsDivision(collectively,the"FlashBusiness")fromAvagoTechnologiesLimitedfor$450millionincash.Thetransactionisintendedto
strengthenSeagate'sstrategytodeliverafullsuiteofstoragesolutions,providingSeagatewithestablishedenterprisePCIeflashandSSDcontrollercapabilitiesto
deliversolutionsforthegrowingflashstoragemarket.
Thefollowingtablesummarizestheestimatedfairvaluesoftheassetsacquiredandliabilitiesassumedattheacquisitiondate:
Thefollowingtableshowsthefairvalueoftheseparatelyidentifiableintangibleassetsatthetimeofacquisitionandtheweighted-averageperiodoverwhich
intangibleassetswithineachcategorywillbeamortized:
ThegoodwillrecognizedisprimarilyattributabletothebenefitstheCompanyexpectstoderivefromenhancedmarketopportunities,andisnotdeductiblefor
incometaxpurposes.
TheCompanyincurredapproximately$1millionofexpensesrelatedtotheacquisitionofLSI'sFlashBusinessinfiscalyear2015,whichareincludedwithin
MarketingandadministrativeexpenseontheConsolidatedStatementofOperations.
TheamountsofrevenueandearningsofLSI'sFlashBusinessincludedintheCompany'sConsolidatedStatementofOperationsfromtheacquisitiondate
throughtheendoffiscalyearendedJuly3,2015werenotsignificant.
79
(Dollarsinmillions) Amount
Inventories $ 37
Property,plantandequipment 22
Intangibleassets 141
Otherassets 6
Goodwill 337
Totalassets 543
Liabilities (93)
Totalliabilities (93)
Total $ 450
(Dollarsinmillions) FairValue
Weighted-Average
Amortization
Period
Existingtechnology $ 84 3.5years
Customerrelationships 40 3.8years
Tradenames 17 4.5years
Totalacquiredidentifiableintangibleassets $ 141