Western Digital 1999 Annual Report Download - page 41

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Bowne Conversion 36
WESTERN DIGITAL CORPORATION
CONSOLIDATED BALANCE SHEETS
(in thousands, except share amounts)
ASSETS
June 27,
1998
July 3,
1999
Current assets:
Cash and cash equivalents.............................................................. $459,830 $226,147
Accounts receivable, less allowance for doubtful accounts
of $15,926 in 1998 and $18,537 in 1999 .................................. 369,013 273,435
Inventories (Note 2)..................................................................... 186,516 144,093
Prepaid expenses and other assets................................................. 36,763 44,672
Total current assets............................................................... 1,052,122 688,347
Property and equipment at cost, net (Note 2)................................. 346,987 237,939
Intangible and other assets, net (Note 8)......................................... 43,579 96,116
Total assets........................................................................... $ 1,442,688 $ 1,022,402
LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIENCY)
Current liabilities:
Accounts payable.......................................................................... $330,130 $335,907
Accrued compensation.................................................................. 23,697 31,136
Accrued warranty.......................................................................... 47,135 78,187
Accrued expenses.......................................................................... 187,617 171,388
Current portion of long-term debt (Note 3) .................................. — 10,000
Total current liabilities.......................................................... 588,579 626,618
Long-term debt (Note 3)................................................................. 519,188 534,144
Deferred income taxes (Note 5)...................................................... 17,163 15,430
Commitments and contingent liabilities (Note 4)
Subsequent events (Notes 3 and 11)
Shareholders' equity (deficiency) (Note 6):
Preferred stock, $.01 par value; Authorized — 5,000 shares;
Outstanding — None..................................................................
Common stock, $.01 par value; Authorized — 225,000
shares; Outstanding — 101,332 shares in 1998 and
101,908 shares in 1999.............................................................. 1,013 1,019
Additional paid-in capital.............................................................. 326,244 335,197
Retained earnings (accumulated deficit)......................................... 197,849 (294,841)
Accumulated other comprehensive loss (Note 8)........................... —(2,123)
Treasury stock-common shares at cost; 13,039 shares in 1998
and
11,297 shares in 1999................................................................
(207,348) (193,042)
Total shareholders' equity (deficiency).................................. 317,758 (153,790)
Total liabilities and shareholders' equity
(deficiency)......................................................................... $ 1,442,688 $ 1,022,402
See notes to consolidated financial statements.