2013 Q4 Form 10-Q Financial Statement

#000110465914004612 Filed on January 28, 2014

View on sec.gov

Income Statement

Concept 2013 Q4 2012 Q4
Revenue $3.528B $3.668B
YoY Change -3.82% 14.8%
Cost Of Revenue $2.541B $2.676B
YoY Change -5.04% 22.47%
Gross Profit $987.0M $992.0M
YoY Change -0.5% -1.78%
Gross Profit Margin 27.98% 27.04%
Selling, General & Admin $190.0M $139.0M
YoY Change 36.69% -1.42%
% of Gross Profit 19.25% 14.01%
Research & Development $312.0M $277.0M
YoY Change 12.64% 6.95%
% of Gross Profit 31.61% 27.92%
Depreciation & Amortization $229.0M $218.0M
YoY Change 5.05% 14.14%
% of Gross Profit 23.2% 21.98%
Operating Expenses $502.0M $416.0M
YoY Change 20.67% 4.0%
Operating Profit $444.0M $555.0M
YoY Change -20.0% -8.26%
Interest Expense $49.00M $55.00M
YoY Change -10.91% -5.17%
% of Operating Profit 11.04% 9.91%
Other Income/Expense, Net -$2.000M -$56.00M
YoY Change -96.43% 19.15%
Pretax Income $442.0M $499.0M
YoY Change -11.42% -10.57%
Income Tax $14.00M $7.000M
% Of Pretax Income 3.17% 1.4%
Net Earnings $428.0M $492.0M
YoY Change -13.01% -12.61%
Net Earnings / Revenue 12.13% 13.41%
Basic Earnings Per Share $1.27 $1.33
Diluted Earnings Per Share $1.24 $1.30
COMMON SHARES
Basic Shares Outstanding 336.0M shares 369.0M shares
Diluted Shares Outstanding 346.0M shares 379.0M shares

Balance Sheet

Concept 2013 Q4 2012 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.339B $1.872B
YoY Change 24.95% -16.13%
Cash & Equivalents $2.293B $1.383B
Short-Term Investments $46.00M $489.0M
Other Short-Term Assets $267.0M $487.0M
YoY Change -45.17% 48.02%
Inventory $948.0M $800.0M
Prepaid Expenses
Receivables $1.615B $1.648B
Other Receivables $0.00 $297.0M
Total Short-Term Assets $5.289B $5.017B
YoY Change 5.42% -7.09%
LONG-TERM ASSETS
Property, Plant & Equipment $2.128B $2.228B
YoY Change -4.49% 0.81%
Goodwill $477.0M $476.0M
YoY Change 0.21%
Intangibles $329.0M $480.0M
YoY Change -31.46%
Long-Term Investments
YoY Change
Other Assets $202.0M $132.0M
YoY Change 53.03% -74.47%
Total Long-Term Assets $3.601B $3.725B
YoY Change -3.33% -1.22%
TOTAL ASSETS
Total Short-Term Assets $5.289B $5.017B
Total Long-Term Assets $3.601B $3.725B
Total Assets $8.890B $8.742B
YoY Change 1.69% -4.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.577B $1.685B
YoY Change -6.41% 15.33%
Accrued Expenses $455.0M $473.0M
YoY Change -3.81% -48.08%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $3.000M
YoY Change -100.0%
Total Short-Term Liabilities $2.457B $2.643B
YoY Change -7.04% 11.42%
LONG-TERM LIABILITIES
Long-Term Debt $3.572B $2.815B
YoY Change 26.89% -3.76%
Other Long-Term Liabilities $122.0M $140.0M
YoY Change -12.86% -65.77%
Total Long-Term Liabilities $122.0M $2.955B
YoY Change -95.87% -11.37%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.457B $2.643B
Total Long-Term Liabilities $122.0M $2.955B
Total Liabilities $6.395B $5.817B
YoY Change 9.94% 1.95%
SHAREHOLDERS EQUITY
Retained Earnings -$2.902B -$2.261B
YoY Change 28.35%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.495B $2.911B
YoY Change
Total Liabilities & Shareholders Equity $8.890B $8.742B
YoY Change 1.69% -4.68%

Cashflow Statement

Concept 2013 Q4 2012 Q4
OPERATING ACTIVITIES
Net Income $428.0M $492.0M
YoY Change -13.01% -12.61%
Depreciation, Depletion And Amortization $229.0M $218.0M
YoY Change 5.05% 14.14%
Cash From Operating Activities $856.0M $844.0M
YoY Change 1.42% 17.39%
INVESTING ACTIVITIES
Capital Expenditures -$143.0M -$164.0M
YoY Change -12.8% 14.69%
Acquisitions
YoY Change
Other Investing Activities $506.0M -$24.00M
YoY Change -2208.33% -95.64%
Cash From Investing Activities $363.0M -$188.0M
YoY Change -293.09% -72.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -850.0M -1.168B
YoY Change -27.23% 73.29%
NET CHANGE
Cash From Operating Activities 856.0M 844.0M
Cash From Investing Activities 363.0M -188.0M
Cash From Financing Activities -850.0M -1.168B
Net Change In Cash 369.0M -512.0M
YoY Change -172.07% -21.11%
FREE CASH FLOW
Cash From Operating Activities $856.0M $844.0M
Capital Expenditures -$143.0M -$164.0M
Free Cash Flow $999.0M $1.008B
YoY Change -0.89% 16.94%

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us-gaap Gain Loss On Sale Of Property Plant Equipment
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us-gaap Increase Decrease In Employee Related Liabilities
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us-gaap Increase Decrease In Employee Related Liabilities
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us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Inventories
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us-gaap Increase Decrease In Restricted Cash For Operating Activities
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0 USD
us-gaap Increase Decrease In Restricted Cash For Operating Activities
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment On Derivatives Included In Net Income Net Of Tax
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us-gaap Other Comprehensive Income Loss Reclassification Adjustment On Derivatives Included In Net Income Net Of Tax
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us-gaap Other Comprehensive Income Reclassification Of Defined Benefit Plans Net Gain Loss Recognized In Net Periodic Benefit Cost Net Of Tax
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us-gaap Other Comprehensive Income Reclassification Of Defined Benefit Plans Net Gain Loss Recognized In Net Periodic Benefit Cost Net Of Tax
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us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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CY2012Q3 us-gaap Product Warranty Accrual
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us-gaap Product Warranty Accrual Additions From Business Acquisition
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us-gaap Product Warranty Accrual Payments
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us-gaap Research And Development Expense
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us-gaap Sales Revenue Net
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us-gaap Sales Revenue Net
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CY2012Q4 us-gaap Selling General And Administrative Expense
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us-gaap Selling General And Administrative Expense
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us-gaap Selling General And Administrative Expense
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us-gaap Stock Repurchased And Retired During Period Shares
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2012Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2013Q4 stx Available For Sale Securities Debt Maturities After Five Years Amortized Cost
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CY2013Q4 stx Available For Sale Securities Debt Maturities After Five Years Fair Value
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stx Increase Decrease In Accrued Liabilities Income Taxes And Product Warranty
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stx Increase Decrease In Accrued Liabilities Income Taxes And Product Warranty
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CY2011Q1 stx Line Of Credit Facility Available For Issuances Of Letters Of Credit Maximum
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CY2013Q4 stx Line Of Credit Facility Letters Of Credit Outstanding
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dei Entity Central Index Key
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stx Noncontrolling Interest Payment For Deposit To Acquire Noncontrolling Shares
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CY2014 stx Number Of Weeks In Fiscal Year
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stx Other Comprehensive Income Loss Reclassification Adjustment On Foreign Currency Included In Net Income Netof Tax
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stx Other Comprehensive Income Loss Reclassification Adjustment On Foreign Currency Included In Net Income Netof Tax
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0 USD
CY2013Q4 stx Other Current Assets Excluding Vendor Nontrade Receivables
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CY2013Q2 stx Other Current Assets Excluding Vendor Nontrade Receivables
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155000000 USD
CY2013Q4 stx Preferred Stock Minimum Number Of Series
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stx Product Warranty Period Term Maximum
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stx Product Warranty Period Term Maximum
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CY2013Q2 stx Restricted Cash And Investments Held In Trust
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CY2013Q2 stx Trading Securities Unrealized Holding Gains Losses
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5000000 USD
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stx Value Of Stock Repurchased And Retired During Period
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CY2013Q4 stx Value Of Stock Repurchased And Retired During Period
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1520000000 USD
CY2013Q3 stx Value Of Stock Repurchased And Retired During Period
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182000000 USD
CY2013Q2 stx Vendor Nontrade Receivables Current
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dei Amendment Flag
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false
dei Current Fiscal Year End Date
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dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2014
dei Document Period End Date
DocumentPeriodEndDate
2013-12-27
dei Document Type
DocumentType
10-Q
CY2014Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
328755155 shares
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
Seagate Technology plc

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