Western Digital 2007 Annual Report Download - page 53

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WESTERN DIGITAL CORPORATION
CONSOLIDATED BALANCE SHEETS
(in millions)
June 29,
2007
June 30,
2006
ASSETS
Current assets:
Cash and cash equivalents ................................................ $ 700 $ 551
Short-term investments .................................................. 207 148
Accounts receivable, net ................................................. 697 481
Inventories. .......................................................... 259 205
Advances to suppliers ................................................... 63 80
Other current assets .................................................... 103 40
Total current assets ................................................... 2,029 1,505
Property and equipment, net................................................ 741 549
Other non-current assets ................................................... 131 32
Total assets ........................................................ $2,901 $2,086
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable ...................................................... $ 882 $ 632
Accrued expenses ...................................................... 163 144
Accrued warranty ...................................................... 73 71
Current portion of long-term debt .......................................... 12 25
Total current liabilities ................................................ 1,130 872
Long-term debt ......................................................... 10 19
Other liabilities ......................................................... 45 38
Total liabilities ...................................................... 1,185 929
Commitments and contingencies (Notes 3 and 4)
Shareholders’ equity:
Preferred stock, $.01 par value; authorized — 5 shares; Outstanding — None . . . ........ — —
Common stock, $.01 par value; authorized — 450 shares; Outstanding — 225 and
222 shares, respectively ................................................ 2 2
Additional paid-in capital ................................................ 811 775
Accumulated comprehensive income (loss) .................................... (1) 1
Retained earnings...................................................... 955 391
Treasury stock — common shares at cost; 3 and 1 shares, respectively ................. (51) (12)
Total shareholders’ equity . . . ........................................... 1,716 1,157
Total liabilities and shareholders’ equity .................................... $2,901 $2,086
The accompanying notes are an integral part of these consolidated financial statements.
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