Seagate 2008 Annual Report Download - page 145

Download and view the complete annual report

Please find page 145 of the 2008 Seagate annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 205

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205

Table of Contents
SEAGATE TECHNOLOGY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
18. Condensed Consolidating Financial Information (Continued)
Consolidating Statement of Cash Flows
Fiscal Year Ended July 3, 2009
(In millions)
(1)
Seagate
Technology
Parent
Company
Guarantor
Maxtor
Subsidiary
Issuer
(11 months)
(1)
STUS
Subsidiary
Issuer
(1 month)
(2)
Combined
Non-
Guarantors
Eliminations
Seagate
Technology
Consolidated
OPERATING ACTIVITES
Net income (loss)
$
(3,086
)
$
(71
)
$
(14
)
$
(6,140
)
$
6,225
$
(3,086
)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization
—
3
928
—
931
Stock
-
based compensation
—
3
1
79
—
83
Allowance for doubtful accounts receivable, net of recoveries
—
—
—
4
—
4
Impairment of goodwill and other long
-
lived assets
—
—
—
2,290
—
2,290
Deferred income taxes
—
—
(
11
)
317
—
306
Equity in loss of Maxtor
—
—
—
69
(69
)
—
Equity in loss of STUS
—
—
—
22
(22
)
—
Equity in (income) loss of Non
-
Guarantors
3,086
13
(8
)
3,041
(6,132
)
—
Other non
-
cash operating activities, net
—
2
4
(11
)
—
(
5
)
Changes in operating assets and liabilities, net
(1
)
(6
)
41
266
—
300
Net cash provided by (used in) operating activities
(1
)
(56
)
13
865
2
823
INVESTING ACTIVITIES
Acquisition of property, equipment and leasehold improvements
—
—
—
(
633
)
—
(
633
)
Proceeds from sales of fixed assets
—
7
—
7
Purchase of short
-
term investments
—
—
—
(
155
)
—
(
155
)
Maturities and sales of short
-
term investments
—
—
—
192
—
192
Increase in restricted cash and investments
—
—
—
(
128
)
—
(
128
)
Proceeds from sales of deferred compensation plan investments
—
—
—
85
—
85
Proceeds from sale of a subsidiary to a Non
-
Guarantor
—
85
—
(
85
)
—
—
Merger of Maxtor into STUS
(86
)
86
—
—
—
Other investing activities, net
—
—
—
14
—
14
Net cash provided by (used in) investing activities
—
(
1
)
86
(703
)
—
(
618
)
FINANCING ACTIVITIES
Proceeds from short
-
term borrowings
350
350
Net proceeds from issuance of long
-
term debt
399
399
Repayment of long
-
term debt
—
(
5
)
(20
)
(30
)
—
(
55
)
Increase in restricted cash and investments
—
—
—
(
380
)
—
(
380
)
Loan from Non
-
Guarantor to Parent
94
—
—
(
94
)
—
—
Loan from Non
-
Guarantor to Maxtor
—
51
—
(
49
)
(2
)
—
Repayment of loan from Non
-
Guarantor to STUS
—
—
163
(163
)
—
—
Distribution to Maxtor from Non
-
Guarantor
—
10
—
(
10
)
—
—
Proceeds from exercise of employee stock options and employee stock purchase plan
54
—
—
—
—
54
Dividends to shareholders
(132
)
—
—
—
—
(
132
)
Investment by STUS in Non
-
Guarantor
—
—
(
85
)
85
—
—
Other financing activities, net
—
—
—
(
4
)
—
(
4
)
Net cash provided by (used in) financing activities
16
56
58
104
(2
)
232
Increase (decrease) in cash and cash equivalents
15
(1
)
157
266
—
437
Cash and cash equivalents at the beginning of the period
3
1
—
986
—
990
STUS cash and cash equivalents at May 29, 2009
—
—
23
(23
)
—
—
Cash and cash equivalents at the end of the period
$
18
$
—
$
180
$
1,229
$
—
$
1,427
For the eleven months ended May 29, 2009, the period for which Maxtor was the issuer.
(2)
For the one month ended July 3, 2009, the period for which STUS was the issuer.
143