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under the Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent we specifically
request that it be treated as soliciting material or specifically incorporate it by reference into a filing under
the Securities Act of 1933 or the Securities Exchange Act of 1934.
Item 6. Selected Financial Data
Financial Highlights
This selected consolidated financial data should be read together with the Consolidated Financial Statements and
related Notes contained in this Annual Report on Form 10-K and in the subsequent reports filed with the SEC, as
well as the section of this Annual Report on Form 10-K and the other reports entitled “Management’s Discussion and
Analysis of Financial Condition and Results of Operations.”
June 27,
2014
June 28,
2013
June 29,
2012
July 1,
2011
July 2,
2010
(in millions, except per share and employee data)
Revenue, net ................................. $15,130 $15,351 $ 12,478 $ 9,526 $ 9,850
Gross profit .................................. $ 4,360 $ 4,363 $ 3,638 $ 1,791 $ 2,401
Net income .................................. $ 1,617 $ 980 $ 1,612 $ 726 $ 1,382
Income per common share:
Basic ............................... $ 6.88 $ 4.07 $ 6.69 $ 3.14 $ 6.06
Diluted ............................. $ 6.68 $ 3.98 $ 6.58 $ 3.09 $ 5.93
Cash dividends declared per common share .......... $ 1.25 $ 1.00 $ — $ — $ —
Working capital .............................. $ 4,875 $ 3,625 $ 3,109 $ 3,317 $ 2,697
Total assets .................................. $15,499 $14,036 $ 14,206 $ 8,118 $ 7,328
Long-term debt ............................... $ 2,313 $ 1,725 $ 1,955 $ 150 $ 294
Shareholders’ equity ............................ $ 8,842 $ 7,893 $ 7,669 $ 5,488 $ 4,709
Number of employees .......................... 84,072 85,777 103,111 65,431 62,500
“Number of employees” excludes temporary employees and contractors. Results for Virident, sTec, VeloBit and
HGST, which were acquired on October 17, 2013, September 12, 2013, July 9, 2013 and March 8, 2012,
respectively, are included in our operating results only after the respective dates of acquisition.
Item 7. Management’s Discussion and Analysis of Financial Condition and Results
of Operations
Forward-Looking Statements
The following discussion and analysis contains forward-looking statements within the meaning of the federal securities laws.
You are urged to carefully review our description and examples of forward-looking statements included earlier in this Annual Report
on Form 10-K immediately prior to Part I, under the heading “Forward-Looking Statements.” Forward-looking statements are
subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking
statements. You are urged to carefully review the disclosures we make concerning risks and other factors that may affect our business
and operating results, including those made in Item 1A of this Annual Report on Form 10-K, and any of those made in our other
reports filed with the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as
of the date of this document. We do not intend, and undertake no obligation, to publish revised forward-looking statements to reflect
events or circumstances after the date of this document or to reflect the occurrence of unanticipated events.
Our Company
We are a leading developer, manufacturer and provider of data storage solutions that enable consumers, busi-
nesses, governments and other organizations to create, manage, experience and preserve digital content. Our product
portfolio includes hard disk drives (“HDDs”) and solid-state drives (“SSDs”). HDDs are our principal products and are
today’s primary storage medium for digital content, with the use of solid-state storage products growing rapidly. Our
products are marketed under the HGST, WD and G-Technology brand names. We currently operate our global busi-
ness through two independent subsidiaries due to regulatory requirements — HGST and WD.
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