Western Digital 1996 Annual Report Download - page 13
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July 1, 1995 June 29, 1996
Assets
Current assets:
Cash and cash equivalents $217,531 $182,565
Short-term investments 90,177 36,598
Accounts receivable, net 303,841 409,473
Inventories 98,925 142,622
Prepaid expenses 19,663 23,006
Total current assets 730,137 794,264
Property and equipment at cost, net 88,576 148,258
Intangible and other assets, net 40,127 41,621
Total assets $858,840 $984,143
Liabilities and Shareholders’ Equity
Current liabilities $369,602 $514,022
Deferred income taxes 15,812 16,229
Shareholders’equity:
Common stock and paid-in capital, net of treasury stock 349,850 233,422
Retained earnings 123,576 220,470
Total shareholders’equity 473,426 453,892
Total liabilities and shareholders’equity $858,840 $984,143
Independent Auditors’ Report
The Board of Directors
Western Digital Corporation:
We have audited, in accordance with generally accepted auditing standards, the consolidated balance sheets of Western Digital Corporation
and subsidiaries as of July 1, 1995 and June 29, 1996, and the related consolidated statements of income, shareholders equity and cash flows
for the three years ended June 29, 1996; and in our report dated July 24, 1996, we expressed an unqualified opinion on those consolidated
financial statements.
In our opinion, the information set forth in the accompanying condensed consolidated financial statements is fairly stated, in all material
respects, in relation to the consolidated financial statements from which it has been derived.
Orange County, California
September 16, 1996
11
Condensed Consolidated Balance Sheets Western Digital Corporation
(in thousands)