2021 Q2 Form 10-Q Financial Statement

#000113778921000028 Filed on April 29, 2021

View on sec.gov

Income Statement

Concept 2021 Q2 2020 Q2 2020 Q1
Revenue $2.731B $2.718B $2.696B
YoY Change 0.48% 14.64% 16.56%
Cost Of Revenue $1.991B $1.972B $1.938B
YoY Change 0.96% 12.88% 13.2%
Gross Profit $740.0M $746.0M $758.0M
YoY Change -0.8% 19.55% 26.12%
Gross Profit Margin 27.1% 27.45% 28.12%
Selling, General & Admin $126.0M $119.0M $120.0M
YoY Change 5.88% 10.19% 9.09%
% of Gross Profit 17.03% 15.95% 15.83%
Research & Development $227.0M $246.0M $250.0M
YoY Change -7.72% 2.07% 5.04%
% of Gross Profit 30.68% 32.98% 32.98%
Depreciation & Amortization $99.00M $94.00M $93.00M
YoY Change 5.32% -29.85% -31.11%
% of Gross Profit 13.38% 12.6% 12.27%
Operating Expenses $353.0M $365.0M $370.0M
YoY Change -3.29% 2.82% 6.32%
Operating Profit $386.0M $376.0M $384.0M
YoY Change 2.66% 39.78% 62.71%
Interest Expense $59.00M $49.00M $48.00M
YoY Change 20.41% -187.5% -12.73%
% of Operating Profit 15.28% 13.03% 12.5%
Other Income/Expense, Net -$47.00M -$38.00M -$48.00M
YoY Change 23.68% -353.33% 128.57%
Pretax Income $339.0M $338.0M $336.0M
YoY Change 0.3% 16.15% 56.28%
Income Tax $10.00M $18.00M $18.00M
% Of Pretax Income 2.95% 5.33% 5.36%
Net Earnings $329.0M $320.0M $318.0M
YoY Change 2.81% -67.45% 63.08%
Net Earnings / Revenue 12.05% 11.77% 11.8%
Basic Earnings Per Share $1.41 $1.23 $1.21
Diluted Earnings Per Share $1.39 $1.22 $1.20
COMMON SHARES
Basic Shares Outstanding 233.0M shares 261.0M shares 262.0M shares
Diluted Shares Outstanding 237.0M shares 263.0M shares 265.0M shares

Balance Sheet

Concept 2021 Q2 2020 Q2 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.212B $1.612B $1.744B
YoY Change -24.81% -27.39% 25.65%
Cash & Equivalents $1.212B $1.612B $1.744B
Short-Term Investments
Other Short-Term Assets $221.0M $141.0M $148.0M
YoY Change 56.74% -23.37% -26.37%
Inventory $1.281B $1.102B $1.148B
Prepaid Expenses
Receivables $978.0M $1.160B $1.112B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.692B $4.015B $4.152B
YoY Change -8.04% -7.98% 19.07%
LONG-TERM ASSETS
Property, Plant & Equipment $2.215B $2.093B $2.049B
YoY Change 5.83% 11.99% 12.46%
Goodwill $1.237B $1.237B $1.237B
YoY Change 0.0% 0.0% 0.0%
Intangibles $35.00M $70.00M $83.00M
YoY Change -50.0% -36.94% -35.66%
Long-Term Investments
YoY Change
Other Assets $307.0M $302.0M $292.0M
YoY Change 1.66% 58.12% 56.15%
Total Long-Term Assets $4.912B $4.814B $4.780B
YoY Change 2.04% 6.46% -6.44%
TOTAL ASSETS
Total Short-Term Assets $3.692B $4.015B $4.152B
Total Long-Term Assets $4.912B $4.814B $4.780B
Total Assets $8.604B $8.829B $8.932B
YoY Change -2.55% -0.63% 3.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.861B $1.830B $1.870B
YoY Change 1.69% 28.87% 42.75%
Accrued Expenses $649.0M $617.0M $553.0M
YoY Change 5.19% 11.78% -6.43%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $245.0M $12.00M $6.000M
YoY Change 1941.67%
Total Short-Term Liabilities $2.993B $2.690B $2.700B
YoY Change 11.26% 20.52% 25.82%
LONG-TERM LIABILITIES
Long-Term Debt $4.897B $4.091B $4.135B
YoY Change 19.7% -3.81% -8.56%
Other Long-Term Liabilities $156.0M $166.0M $175.0M
YoY Change -6.02% 27.69% 43.44%
Total Long-Term Liabilities $5.053B $4.257B $4.310B
YoY Change 18.7% -2.87% -7.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.993B $2.690B $2.700B
Total Long-Term Liabilities $5.053B $4.257B $4.310B
Total Liabilities $8.120B $7.037B $7.102B
YoY Change 15.39% 4.67% 2.82%
SHAREHOLDERS EQUITY
Retained Earnings -$6.417B -$4.866B -$4.804B
YoY Change 31.87% 11.89% -0.08%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $484.0M $1.792B $1.830B
YoY Change
Total Liabilities & Shareholders Equity $8.604B $8.829B $8.932B
YoY Change -2.55% -0.63% 3.91%

Cashflow Statement

Concept 2021 Q2 2020 Q2 2020 Q1
OPERATING ACTIVITIES
Net Income $329.0M $320.0M $318.0M
YoY Change 2.81% -67.45% 63.08%
Depreciation, Depletion And Amortization $99.00M $94.00M $93.00M
YoY Change 5.32% -29.85% -31.11%
Cash From Operating Activities $378.0M $390.0M $480.0M
YoY Change -3.08% -12.95% 9.59%
INVESTING ACTIVITIES
Capital Expenditures -$104.0M -$130.0M -$194.0M
YoY Change -20.0% -13.91% 31.97%
Acquisitions
YoY Change
Other Investing Activities $7.000M -$12.00M -$40.00M
YoY Change -158.33% -100.88% -322.22%
Cash From Investing Activities -$97.00M -$142.0M -$234.0M
YoY Change -31.69% -111.78% 81.4%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -868.0M -374.0M -289.0M
YoY Change 132.09% -52.96% 4.71%
NET CHANGE
Cash From Operating Activities 378.0M 390.0M 480.0M
Cash From Investing Activities -97.00M -142.0M -234.0M
Cash From Financing Activities -868.0M -374.0M -289.0M
Net Change In Cash -587.0M -126.0M -43.00M
YoY Change 365.87% -114.69% -230.3%
FREE CASH FLOW
Cash From Operating Activities $378.0M $390.0M $480.0M
Capital Expenditures -$104.0M -$130.0M -$194.0M
Free Cash Flow $482.0M $520.0M $674.0M
YoY Change -7.31% -13.19% 15.21%

Facts In Submission

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us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci Pension And Other Postretirement Benefit Plans For Net Gain Loss Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax
0 USD
CY2021Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
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CY2020Q2 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
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us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
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CY2021Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
0 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
15000000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-8000000 USD
CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
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28000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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CY2021Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
327000000 USD
CY2020Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
286000000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
860000000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
805000000 USD
us-gaap Net Income Loss
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us-gaap Net Income Loss
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838000000 USD
us-gaap Depreciation Depletion And Amortization
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294000000 USD
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
279000000 USD
us-gaap Share Based Compensation
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87000000 USD
us-gaap Share Based Compensation
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80000000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
3000000 USD
us-gaap Other Noncash Income Expense
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8000000 USD
us-gaap Other Noncash Income Expense
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us-gaap Increase Decrease In Accounts Receivable
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us-gaap Increase Decrease In Accounts Receivable
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172000000 USD
us-gaap Increase Decrease In Inventories
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141000000 USD
us-gaap Increase Decrease In Inventories
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126000000 USD
us-gaap Increase Decrease In Accounts Payable
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60000000 USD
us-gaap Increase Decrease In Other Accrued Liabilities
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-18000000 USD
us-gaap Increase Decrease In Other Operating Capital Net
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61000000 USD
us-gaap Increase Decrease In Accounts Payable
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424000000 USD
us-gaap Increase Decrease In Employee Related Liabilities
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-46000000 USD
us-gaap Increase Decrease In Employee Related Liabilities
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us-gaap Increase Decrease In Other Accrued Liabilities
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0 USD
us-gaap Increase Decrease In Other Operating Capital Net
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23000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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1148000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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1326000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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471000000 USD
us-gaap Proceeds From Sales Of Assets Investing Activities
ProceedsFromSalesOfAssetsInvestingActivities
11000000 USD
us-gaap Proceeds From Sales Of Assets Investing Activities
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0 USD
us-gaap Proceeds From Sale Of Other Assets Investing Activities
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4000000 USD
us-gaap Proceeds From Sale Of Other Assets Investing Activities
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1000000 USD
us-gaap Payments To Acquire Assets Investing Activities
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4000000 USD
us-gaap Payments To Acquire Assets Investing Activities
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57000000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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3000000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
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0 USD
us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Repayments Of Long Term Debt
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us-gaap Repayments Of Long Term Debt
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685000000 USD
us-gaap Payments Of Dividends Common Stock
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495000000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
505000000 USD
us-gaap Payments For Repurchase Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
795000000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
33000000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
39000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
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1000000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
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498000000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
95000000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
100000000 USD
us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
0 USD
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1724000000 USD
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2251000000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1614000000 USD
CY2021Q1 us-gaap Stockholders Equity
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990000000 USD
CY2021Q2 us-gaap Net Income Loss
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CY2021Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2021Q2 us-gaap Stock Issued During Period Value Share Based Compensation
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55000000 USD
CY2021Q2 us-gaap Stock Repurchased During Period Value
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CY2021Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
1000000 USD
CY2021Q2 us-gaap Dividends Common Stock Cash
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154000000 USD
CY2021Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
29000000 USD
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
484000000 USD
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
1830000000 USD
CY2020Q2 us-gaap Net Income Loss
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320000000 USD
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2020Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
31000000 USD
CY2020Q2 us-gaap Stock Repurchased During Period Value
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214000000 USD
CY2020Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
0 USD
CY2020Q2 us-gaap Dividends Common Stock Cash
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CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
27000000 USD
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
1792000000 USD
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Net Income Loss
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us-gaap Other Comprehensive Income Loss Net Of Tax
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28000000 USD
us-gaap Stock Repurchased During Period Value
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1830000000 USD
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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33000000 USD
us-gaap Dividends Common Stock Cash
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
87000000 USD
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
484000000 USD
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Net Income Loss
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us-gaap Other Comprehensive Income Loss Net Of Tax
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us-gaap Stock Issued During Period Value Share Based Compensation
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us-gaap Stock Repurchased During Period Value
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us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
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us-gaap Dividends Common Stock Cash
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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80000000 USD
CY2020Q2 us-gaap Stockholders Equity
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us-gaap Fiscal Period
FiscalPeriod
The Company operates and reports financial results on a fiscal year of 52 or 53 weeks ending on the Friday closest to June 30. In fiscal years with 53 weeks, the first quarter consists of 14 weeks and the remaining quarters consist of 13 weeks each. The three and nine months ended April 2, 2021 consisted of 13 and 39 weeks, respectively, and the three and nine months ended April 3, 2020 consisted of 13 and 40 weeks, respectively. Fiscal year 2021, which ends on July 2, 2021, is comprised of 52 weeks and fiscal year 2020, which ended on July 3, 2020, was comprised of 53 weeks. The fiscal quarters ended April 2, 2021, January 1, 2021 and April 3, 2020, are also referred to herein as the “March 2021 quarter”, the “December 2020 quarter” and the “March 2020 quarter”, respectively.
CY2021Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
550000000 USD
CY2021Q2 us-gaap Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
0 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
550000000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Securities
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550000000 USD
CY2021Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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2000000 USD
CY2021Q2 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
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0 USD
CY2021Q2 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
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0 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCostBasis
532000000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Fair Value
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
532000000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Rolling Year Two Through Five Amortized Cost Basis
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10000000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Rolling Year Two Through Five Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingYearTwoThroughFiveFairValue
10000000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Rolling Year Six Through Ten Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesRollingYearSixThroughTenAmortizedCostBasis
0 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Rolling Year Six Through Ten Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingYearSixThroughTenFairValue
0 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Rolling After Year Ten Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesRollingAfterYearTenAmortizedCostBasis
8000000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Rolling After Year Ten Fair Value
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8000000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesSingleMaturityDateAmortizedCostBasis
550000000 USD
CY2021Q2 us-gaap Available For Sale Securities Debt Maturities Single Maturity Date
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550000000 USD
CY2020Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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569000000 USD
CY2020Q3 us-gaap Debt Securities Available For Sale Accumulated Gross Unrealized Gain Loss Before Tax
DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax
0 USD
CY2020Q3 us-gaap Available For Sale Securities Debt Securities
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569000000 USD
CY2020Q3 us-gaap Available For Sale Securities Debt Securities
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569000000 USD
CY2020Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
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0 USD
CY2020Q3 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
0 USD
CY2021Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1722000000 USD
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1612000000 USD
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2220000000 USD
CY2021Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
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2000000 USD
CY2020Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
2000000 USD
CY2020Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
2000000 USD
CY2019Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
31000000 USD
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1214000000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1724000000 USD
CY2020Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1614000000 USD
CY2019Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2251000000 USD
CY2019Q2 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
31000000 USD
CY2021Q2 us-gaap Securitized Assets And Any Other Financial Assets Managed Together Principal Amount Outstanding
SecuritizedAssetsAndAnyOtherFinancialAssetsManagedTogetherPrincipalAmountOutstanding
35000000 USD
CY2020Q2 us-gaap Transfer Of Financial Assets Accounted For As Sales Cash Proceeds Received For Assets Derecognized Amount
TransferOfFinancialAssetsAccountedForAsSalesCashProceedsReceivedForAssetsDerecognizedAmount
79000000 USD
CY2021Q2 us-gaap Inventory Raw Materials Net Of Reserves
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412000000 USD
CY2020Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
451000000 USD
CY2021Q2 us-gaap Inventory Work In Process Net Of Reserves
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443000000 USD
CY2020Q3 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
313000000 USD
CY2021Q2 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
426000000 USD
CY2020Q3 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
378000000 USD
CY2021Q2 us-gaap Inventory Net
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1281000000 USD
CY2020Q3 us-gaap Inventory Net
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1142000000 USD
CY2021Q2 us-gaap Property Plant And Equipment Gross
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10384000000 USD
CY2020Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10212000000 USD
CY2021Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
8169000000 USD
CY2020Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
8083000000 USD
CY2021Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2215000000 USD
CY2020Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2129000000 USD
CY2021Q2 us-gaap Dividends Payable Current
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154000000 USD
CY2020Q3 us-gaap Dividends Payable Current
DividendsPayableCurrent
167000000 USD
CY2021Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
495000000 USD
CY2020Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
435000000 USD
CY2021Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
649000000 USD
CY2020Q3 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
602000000 USD
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
6000000 USD
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
245000000 USD
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
566000000 USD
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
525000000 USD
CY2021Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
504000000 USD
CY2021Q2 stx Long Term Debt Maturity After Year Four
LongTermDebtMaturityAfterYearFour
3376000000 USD
CY2021Q2 us-gaap Debt Longterm And Shortterm Combined Amount
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5222000000 USD
CY2021Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
19000000 USD
CY2021Q2 us-gaap Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
-4000000 USD
us-gaap Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
-15000000 USD
us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
18000000 USD
CY2021Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
107000000 USD
CY2020Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
18000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
34000000 USD
us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Amount
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount
-13000000 USD
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.25
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.25
CY2020Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.25
CY2021Q2 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.25
CY2021Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
4000000 USD
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
6000000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
11000000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
17000000 USD
CY2021Q2 us-gaap Variable Lease Cost
VariableLeaseCost
1000000 USD
CY2020Q2 us-gaap Variable Lease Cost
VariableLeaseCost
1000000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
3000000 USD
us-gaap Variable Lease Cost
VariableLeaseCost
3000000 USD
CY2021Q2 us-gaap Lease Cost
LeaseCost
5000000 USD
CY2020Q2 us-gaap Lease Cost
LeaseCost
7000000 USD
CY2021Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
43000000 USD
CY2020Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
49000000 USD
us-gaap Lease Cost
LeaseCost
14000000 USD
us-gaap Lease Cost
LeaseCost
20000000 USD
CY2021Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
5000000 USD
CY2020Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
4000000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
14000000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
13000000 USD
CY2021Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P7Y1M6D
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P13Y2M12D
CY2021Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0602
CY2020Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0653
CY2021Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
102000000 USD
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
103000000 USD
CY2021Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
15000000 USD
CY2020Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
14000000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
4000000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
16000000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
12000000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
7000000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
5000000 USD
CY2021Q2 stx Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
25000000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
69000000 USD
CY2021Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
11000000 USD
CY2021Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
58000000 USD
CY2021Q2 us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
-2000000 USD
CY2021Q2 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
3000000 USD
us-gaap Restructuring Costs And Asset Impairment Charges
RestructuringCostsAndAssetImpairmentCharges
1000000 USD
CY2020Q2 us-gaap Restructuring And Related Cost Number Of Positions Eliminated
RestructuringAndRelatedCostNumberOfPositionsEliminated
500 numberOfEmployees
CY2021Q2 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
6000000 USD
CY2021Q2 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
16000000 USD
CY2020Q3 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
6000000 USD
CY2020Q3 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
29000000 USD
CY2021Q2 stx Authorized Share Capital Common And Preferred Stock Value
AuthorizedShareCapitalCommonAndPreferredStockValue
13500 USD
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
1250000000 shares
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2021Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
229556907 shares
CY2021Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
100000000 shares
CY2021Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
CY2021Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2021Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
us-gaap Common Stock Voting Rights
CommonStockVotingRights
one vote per share
CY2021Q2 stx Preferred Stock Minimum Number Of Series
PreferredStockMinimumNumberOfSeries
1
CY2021Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
4400000000 USD
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
30000000 shares
us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
1830000000 USD
us-gaap Shares Paid For Tax Withholding For Share Based Compensation
SharesPaidForTaxWithholdingForShareBasedCompensation
1000000 shares
us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
33000000 USD
us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
31000000 shares
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
1863000000 USD
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2731000000 USD
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2718000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7668000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7992000000 USD
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2731000000 USD
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2718000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7668000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7992000000 USD
CY2021Q2 stx Indemnificationsobligationsto Officersand Directors
IndemnificationsobligationstoOfficersandDirectors
0 USD
CY2021Q2 stx Intellectualpropertyindemnificationobligations
Intellectualpropertyindemnificationobligations
0 USD
CY2020Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
151000000 USD
CY2019Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
195000000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
56000000 USD
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
67000000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
62000000 USD
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
65000000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-11000000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-34000000 USD
CY2021Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
134000000 USD
CY2020Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
163000000 USD
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
329000000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
320000000 USD
us-gaap Net Income Loss
NetIncomeLoss
832000000 USD
us-gaap Net Income Loss
NetIncomeLoss
838000000 USD
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
233000000 shares
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
261000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
246000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
263000000 shares
CY2021Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
4000000 shares
CY2020Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2000000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3000000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3000000 shares
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
237000000 shares
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
263000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
249000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
266000000 shares
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.41
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.23
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.38
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
3.19
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.39
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.22
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.34
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.15

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