Seagate 2015 Annual Report Download - page 83

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TableofContents
SEAGATETECHNOLOGYPLC
NOTESTOCONSOLIDATEDFINANCIALSTATEMENTS—(Continued)
XyratexLtd
OnMarch31,2014,theCompanyacquiredalloftheoutstandingsharesofXyratexLtd("Xyratex"),aleadingproviderofdatastoragetechnology.The
Companypaid$13.25pershare,orapproximately$376millionincashfortheacquisition.TheacquisitionofXyratexfurtherstrengthenstheCompany'svertically
integratedsupplyandmanufacturingchainfordiskdrivesandprovidesaccesstoimportantcapitalrequirements,aswellasexpandstheCompany'sstorage
solutionsportfolio.
Thefollowingtablesummarizestheestimatedfairvaluesoftheassetsacquiredandliabilitiesassumedattheacquisitiondate:
Thefollowingtableshowsthefairvalueoftheseparatelyidentifiableintangibleassetsatthetimeofacquisitionandtheperiodoverwhicheachintangible
assetwillbeamortized:
Thegoodwillrecognizedisprimarilyattributabletothesynergiesexpectedtoariseaftertheacquisition,andisnotdeductibleforincometaxpurposes.
TheCompanyincurredatotalof$10millionofexpensesrelatedtotheacquisitionofXyratexinfiscalyear2014,whichareincludedwithinMarketingand
administrativeexpenseontheConsolidatedStatementofOperations.
TheamountsofrevenueandearningsofXyratexincludedintheCompany'sConsolidatedStatementofOperationsfromtheacquisitiondatethroughtheend
offiscalyearendedJune27,2014werenotsignificant.
80
(Dollarsinmillions) Amount
Cashandcashequivalents  $ 91
Accountsreceivable,net   67
Inventories   111
Othercurrentandnon-currentassets   28
Property,plantandequipment   55
Intangibleassets   80
Goodwill   60
Totalassets   492
Accountspayableandaccruedexpenses   (116)
Totalliabilities   (116)
Total  $ 376
(Dollarsinmillions) FairValue
Weighted-Average
Amortization
Period
Existingtechnology  $ 23 5.5years
Customerrelationships   18 3.9years
Totalamortizableintangibleassetsacquired   41 4.8years
In-processresearchanddevelopment   39
Totalacquiredidentifiableintangibleassets  $ 80