$STX
Seagate Technology Holdings plc

2023 Q1 Form 10-Q Financial Statement

#000113778923000010 Filed on January 25, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4
Revenue $1.860B $1.887B
YoY Change -39.44%
Cost Of Revenue $1.541B $1.641B
YoY Change -24.31%
Gross Profit $319.0M $246.0M
YoY Change -74.05%
Gross Profit Margin 17.15% 13.04%
Selling, General & Admin $123.0M $125.0M
YoY Change -8.09%
% of Gross Profit 38.56% 50.81%
Research & Development $191.0M $200.0M
YoY Change -12.28%
% of Gross Profit 59.87% 81.3%
Depreciation & Amortization $126.0M $148.0M
YoY Change 42.31%
% of Gross Profit 39.5% 60.16%
Operating Expenses $314.0M $325.0M
YoY Change -10.71%
Operating Profit -$315.0M -$160.0M
YoY Change -127.59%
Interest Expense $81.00M $77.00M
YoY Change 24.19%
% of Operating Profit
Other Income/Expense, Net -$85.00M $122.0M
YoY Change -284.85%
Pretax Income -$400.0M -$38.00M
YoY Change -107.39%
Income Tax $33.00M -$5.000M
% Of Pretax Income
Net Earnings -$433.0M -$33.00M
YoY Change -106.59%
Net Earnings / Revenue -23.28% -1.75%
Basic Earnings Per Share -$2.09 -$0.16
Diluted Earnings Per Share -$2.09 -$0.16
COMMON SHARES
Basic Shares Outstanding 206.5M shares 206.5M shares
Diluted Shares Outstanding 207.0M shares 206.0M shares

Balance Sheet

Concept 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $766.0M $770.0M
YoY Change -22.3%
Cash & Equivalents $766.0M $770.0M
Short-Term Investments
Other Short-Term Assets $637.0M $277.0M
YoY Change 20.96%
Inventory $1.200B $1.194B
Prepaid Expenses
Receivables $994.0M $840.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.597B $3.081B
YoY Change -30.76%
LONG-TERM ASSETS
Property, Plant & Equipment $1.753B $2.122B
YoY Change -4.24%
Goodwill $1.237B $1.237B
YoY Change 0.0%
Intangibles $1.000M $3.000M
YoY Change -84.21%
Long-Term Investments $56.00M $57.00M
YoY Change -29.63%
Other Assets $252.0M $289.0M
YoY Change -11.62%
Total Long-Term Assets $4.370B $4.786B
YoY Change -2.82%
TOTAL ASSETS
Total Short-Term Assets $3.597B $3.081B
Total Long-Term Assets $4.370B $4.786B
Total Assets $7.967B $7.867B
YoY Change -16.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.697B $1.085B
YoY Change -40.12%
Accrued Expenses $667.0M $829.0M
YoY Change 26.56%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.118B $636.0M
YoY Change 170.64%
Total Short-Term Liabilities $3.639B $2.725B
YoY Change -8.92%
LONG-TERM LIABILITIES
Long-Term Debt $4.840B $5.393B
YoY Change -4.14%
Other Long-Term Liabilities $404.0M $134.0M
YoY Change -10.07%
Total Long-Term Liabilities $5.244B $5.527B
YoY Change -4.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.639B $2.725B
Total Long-Term Liabilities $5.244B $5.527B
Total Liabilities $8.971B $8.337B
YoY Change -5.79%
SHAREHOLDERS EQUITY
Retained Earnings -$8.430B -$7.850B
YoY Change 20.16%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.004B -$470.0M
YoY Change
Total Liabilities & Shareholders Equity $7.967B $7.867B
YoY Change -16.09%

Cashflow Statement

Concept 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income -$433.0M -$33.00M
YoY Change -106.59%
Depreciation, Depletion And Amortization $126.0M $148.0M
YoY Change 42.31%
Cash From Operating Activities $229.0M $251.0M
YoY Change -49.4%
INVESTING ACTIVITIES
Capital Expenditures $54.00M -$79.00M
YoY Change -167.52%
Acquisitions
YoY Change
Other Investing Activities $11.00M $2.000M
YoY Change -166.67%
Cash From Investing Activities -$43.00M -$77.00M
YoY Change -35.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -190.0M -165.0M
YoY Change -72.22%
NET CHANGE
Cash From Operating Activities 229.0M 251.0M
Cash From Investing Activities -43.00M -77.00M
Cash From Financing Activities -190.0M -165.0M
Net Change In Cash -4.000M 9.000M
YoY Change -104.13%
FREE CASH FLOW
Cash From Operating Activities $229.0M $251.0M
Capital Expenditures $54.00M -$79.00M
Free Cash Flow $175.0M $330.0M
YoY Change -12.93%

Facts In Submission

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43000000 usd
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
48000000 usd
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
43000000 usd
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
26000000 usd
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
8000000 usd
CY2022Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
153000000 usd
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
144000000 usd
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
-33000000 usd
CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
501000000 usd
us-gaap Net Income Loss
NetIncomeLoss
-4000000 usd
us-gaap Net Income Loss
NetIncomeLoss
1027000000 usd
CY2022Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
206000000 shares
CY2021Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
221000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
207000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
224000000 shares
CY2022Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2021Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
4000000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
4000000 shares
CY2022Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
206000000 shares
CY2021Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
225000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
207000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
228000000 shares
CY2022Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.16
CY2021Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.27
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.02
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
4.58
CY2022Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.16
CY2021Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.23
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.02
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.50
CY2022Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2000000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2000000 shares
CY2022Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance Sheet Amount
UnrecordedUnconditionalPurchaseObligationBalanceSheetAmount
3100000000 usd
CY2022Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On First Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFirstAnniversary
677000000 usd
CY2022Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Second Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnSecondAnniversary
595000000 usd
CY2022Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Third Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnThirdAnniversary
666000000 usd
CY2022Q4 us-gaap Unrecorded Unconditional Purchase Obligation Balance On Fourth Anniversary
UnrecordedUnconditionalPurchaseObligationBalanceOnFourthAnniversary
745000000 usd
CY2022Q4 stx Unrecorded Unconditional Purchase Obligation Due After Four Years
UnrecordedUnconditionalPurchaseObligationDueAfterFourYears
393000000 usd
CY2022Q4 stx Recorded Unconditional Purchase Obligation Order Cancellation Fees
RecordedUnconditionalPurchaseObligationOrderCancellationFees
108000000 usd

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