Western Digital 1995 Annual Report Download - page 23
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Notes to Consolidated Financial Statements (Continued) .
N 2‒ S F S D
(in thousands) 1995 1994 1993
N I O I (E)
Interest income $ 12,976 $ 2,942 $ 868
Other income 3,056 — —
Interest expense (4,030) (8,780) (15,960)
Net interest and other income (expense) $ 12,002 $ (5,838) $ (15,092)
Cash paid for interest $ 4,471 $ 9,035 $ 15,391
I
Finished goods $ 31,811 $ 27,847
Work in process 35,763 32,178
Raw materials and component parts 31,351 19,550
$ 98,925 $ 79,575
P E
Land and buildings $ 11,067 $ 6,643
Machinery and equipment 163,857 151,014
Furniture and fixtures 11,302 11,702
Leasehold improvements 30,965 22,980
217,191 192,339
Accumulated depreciation and amortization (128,615) (118,922)
Net property and equipment $ 88,576 $ 73,417
I O A
Purchased technology $ 28,700 $ 24,800
Goodwill 14,036 14,036
42,736 38,836
Accumulated amortization (19,092) (16,341)
Net intangible assets 23,644 22,495
Other assets 16,483 7,113
$ 40,127 $ 29,608
N 3 ‒ S W F F
In December 1993, the Company sold its silicon wafer fabrication facility and
certain tangible assets to Motorola, Inc. (“Motorola”) for $111.0 million plus cer-
tain other considerations, including the assumption by Motorola of equipment
leases and certain other liabilities associated with the facility. The gain on the sale
of the facility was not material to the financial position or results of operations of
the Company. Concurrent with the sale, the Company entered into a supply con-
tract with Motorola under which Motorola is supplying silicon wafers to Western
Digital through December 1995.
N 4‒D
Senior Debt
During 1994, the Company entered into an $85.0 million accounts receivable
facility with certain financial institutions. The facility consists of a $50.0 million
arrangement at Eurodollar or reference rates of the participating banks which
expires in 1997 and a $35.0 million one-year committed arrangement at a rate
approximating commercial paper rates. During 1995, the Company renewed the
$35.0 million one-year committed arrangement with terms similar to the original