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10-Q Filing

WESTERN DIGITAL CORP CIK: 106040 Q1 2019
Filing Information
Form Type 10-Q
Accession Number 0000106040-18-000034
Period End Date 20180930
Filing Date 20181106
Fiscal Year 2019
Fiscal Period Q1
XBRL Instance wdc-20180928.xml
Filing Contents
Balance Sheet 78 line items
Line Item Tag Value Unit Period
Preferred stock, par value (in USD per share) PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Preferred stock, par value (in USD per share) PreferredStockParOrStatedValuePerShare $0.01 USD Point-in-time
Preferred stock, authorized (in shares) PreferredStockSharesAuthorized 5.00M shares Point-in-time
Preferred stock, authorized (in shares) PreferredStockSharesAuthorized 5.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $6.89B USD Point-in-time
Preferred stock, issued (in shares) PreferredStockSharesIssued 0.00 shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $5.00B USD Point-in-time
Preferred stock, issued (in shares) PreferredStockSharesIssued 0.00 shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $6.35B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $4.65B USD Point-in-time
Preferred stock, outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Preferred stock, outstanding (in shares) PreferredStockSharesOutstanding 0.00 shares Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $2.20B USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $2.22B USD Point-in-time
Common stock, par value (in USD per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Inventories InventoryNet $2.94B USD Point-in-time
Common stock, par value (in USD per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Inventories InventoryNet $3.12B USD Point-in-time
Common stock, authorized (in shares) CommonStockSharesAuthorized 450.00M shares Point-in-time
Other current assets OtherAssetsCurrent $587.00M USD Point-in-time
Other current assets OtherAssetsCurrent $492.00M USD Point-in-time
Common stock, authorized (in shares) CommonStockSharesAuthorized 450.00M shares Point-in-time
Common stock, issued (in shares) CommonStockSharesIssued 312.00M shares Point-in-time
Total current assets AssetsCurrent $10.64B USD Point-in-time
Common stock, issued (in shares) CommonStockSharesIssued 312.00M shares Point-in-time
Total current assets AssetsCurrent $10.57B USD Point-in-time
Common stock, outstanding (in shares) CommonStockSharesOutstanding 296.00M shares Point-in-time
Common stock, outstanding (in shares) CommonStockSharesOutstanding 289.00M shares Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $3.05B USD Point-in-time
Treasury stock, shares TreasuryStockShares 16.00M shares Point-in-time
Treasury stock, shares TreasuryStockShares 23.00M shares Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $3.10B USD Point-in-time
Notes receivable and investments in Flash Ventures NotesReceivableAndInvestmentsInRelatedParties $2.10B USD Point-in-time
Notes receivable and investments in Flash Ventures NotesReceivableAndInvestmentsInRelatedParties $2.03B USD Point-in-time
Goodwill Goodwill $10.07B USD Point-in-time
Goodwill Goodwill $10.07B USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $2.40B USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $2.68B USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $642.00M USD Point-in-time
Other non-current assets OtherAssetsNoncurrent $576.00M USD Point-in-time
Total assets Assets $29.23B USD Point-in-time
Total assets Assets $28.70B USD Point-in-time
Accounts payable AccountsPayableCurrent $2.27B USD Point-in-time
Accounts payable AccountsPayableCurrent $2.08B USD Point-in-time
Accounts payable to related parties AccountsPayableRelatedPartiesCurrent $259.00M USD Point-in-time
Accounts payable to related parties AccountsPayableRelatedPartiesCurrent $286.00M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $1.30B USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $1.27B USD Point-in-time
Accrued compensation EmployeeRelatedLiabilitiesCurrent $500.00M USD Point-in-time
Accrued compensation EmployeeRelatedLiabilitiesCurrent $479.00M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $179.00M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $213.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $4.38B USD Point-in-time
Total current liabilities LiabilitiesCurrent $4.46B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $10.93B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $10.99B USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $2.25B USD Point-in-time
Other liabilities OtherLiabilitiesNoncurrent $2.02B USD Point-in-time
Total liabilities Liabilities $17.70B USD Point-in-time
Total liabilities Liabilities $17.33B USD Point-in-time
Commitments and contingencies (Notes 7, 9, 11 and 14) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Notes 7, 9, 11 and 14) CommitmentsAndContingencies - USD Point-in-time
Preferred stock, $0.01 par value; authorized 5 shares; issued and outstanding none PreferredStockValue - USD Point-in-time
Preferred stock, $0.01 par value; authorized 5 shares; issued and outstanding none PreferredStockValue - USD Point-in-time
Common stock, $0.01 par value; authorized 450 shares; issued 312 shares; outstanding 289 shares and 296 shares, respectively CommonStockValues $3.00M USD Point-in-time
Common stock, $0.01 par value; authorized 450 shares; issued 312 shares; outstanding 289 shares and 296 shares, respectively CommonStockValues $3.00M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $4.25B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $4.08B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-76.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-39.00M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $8.76B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $9.17B USD Point-in-time
Treasury stock common shares at cost; 23 shares and 16 shares, respectively TreasuryStockValue $1.44B USD Point-in-time
Treasury stock common shares at cost; 23 shares and 16 shares, respectively TreasuryStockValue $1.81B USD Point-in-time
Total shareholders equity StockholdersEquity $11.53B USD Point-in-time
Total shareholders equity StockholdersEquity $11.38B USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $28.70B USD Point-in-time
Total liabilities and shareholders equity LiabilitiesAndStockholdersEquity $29.23B USD Point-in-time
Income Statement 40 line items
Line Item Tag Value Unit Period
Revenue, net RevenueFromContractWithCustomerExcludingAssessedTax $5.03B USD 1 Quarter
Revenue, net RevenueFromContractWithCustomerExcludingAssessedTax $5.18B USD 1 Quarter
Cost of revenue CostOfGoodsSold $3.36B USD 1 Quarter
Cost of revenue CostOfGoodsSold $3.27B USD 1 Quarter
Gross profit GrossProfit $1.91B USD 1 Quarter
Gross profit GrossProfit $1.66B USD 1 Quarter
Research and development ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost $576.00M USD 1 Quarter
Research and development ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost $592.00M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $356.00M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $364.00M USD 1 Quarter
Employee termination, asset impairment, and other charges Employeeterminationassetimpairmentandothercharges $52.00M USD 1 Quarter
Employee termination, asset impairment, and other charges Employeeterminationassetimpairmentandothercharges $46.00M USD 1 Quarter
Total operating expenses OperatingExpenses $978.00M USD 1 Quarter
Total operating expenses OperatingExpenses $1.01B USD 1 Quarter
Operating income OperatingIncomeLoss $905.00M USD 1 Quarter
Operating income OperatingIncomeLoss $686.00M USD 1 Quarter
Interest income InvestmentIncomeInterest $16.00M USD 1 Quarter
Interest income InvestmentIncomeInterest $15.00M USD 1 Quarter
Interest expense InterestExpense $116.00M USD 1 Quarter
Interest expense InterestExpense $205.00M USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-2.00M USD 1 Quarter
Other expense, net OtherNonoperatingIncomeExpense $-6.00M USD 1 Quarter
Total interest and other expense, net NonoperatingIncomeExpense $-195.00M USD 1 Quarter
Total interest and other expense, net NonoperatingIncomeExpense $-103.00M USD 1 Quarter
Income before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $583.00M USD 1 Quarter
Income before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $710.00M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $29.00M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $72.00M USD 1 Quarter
Net income NetIncomeLoss $511.00M USD 1 Quarter
Net income NetIncomeLoss $681.00M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $2.31 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $1.75 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $2.23 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $1.71 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 295.00M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 292.00M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 298.00M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 306.00M shares 1 Quarter
Cash dividends declared per share (in USD per share) CommonStockDividendsPerShareDeclared $0.50 USD 1 Quarter
Cash dividends declared per share (in USD per share) CommonStockDividendsPerShareDeclared $0.50 USD 1 Quarter
Cash Flow Statement 80 line items
Line Item Tag Value Unit Period
Net income (loss) NetIncomeLoss $511.00M USD 1 Quarter
Net income (loss) NetIncomeLoss $681.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $533.00M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $480.00M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $97.00M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $79.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $36.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $201.00M USD 1 Quarter
Loss on disposal of assets GainLossOnSaleOfPropertyPlantEquipment $-2.00M USD 1 Quarter
Loss on disposal of assets GainLossOnSaleOfPropertyPlantEquipment $-1.00M USD 1 Quarter
Write-off of issuance costs and amortization of debt discounts AmortizationOfFinancingCostsAndDiscounts $10.00M USD 1 Quarter
Write-off of issuance costs and amortization of debt discounts AmortizationOfFinancingCostsAndDiscounts $9.00M USD 1 Quarter
Other non-cash operating activities, net OtherOperatingActivitiesCashFlowStatement $11.00M USD 1 Quarter
Other non-cash operating activities, net OtherOperatingActivitiesCashFlowStatement $20.00M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $22.00M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $148.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $175.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-44.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $-77.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayableTrade $-146.00M USD 1 Quarter
Accounts payable to related parties IncreaseDecreaseInAccountsPayableRelatedParties $27.00M USD 1 Quarter
Accounts payable to related parties IncreaseDecreaseInAccountsPayableRelatedParties $20.00M USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $34.00M USD 1 Quarter
Accrued expenses IncreaseDecreaseInAccruedLiabilities $164.00M USD 1 Quarter
Accrued compensation IncreaseDecreaseInEmployeeRelatedLiabilities $20.00M USD 1 Quarter
Accrued compensation IncreaseDecreaseInEmployeeRelatedLiabilities $-38.00M USD 1 Quarter
Other assets and liabilities, net IncreaseDecreaseInOtherOperatingCapitalNet $132.00M USD 1 Quarter
Other assets and liabilities, net IncreaseDecreaseInOtherOperatingCapitalNet $404.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $1.13B USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $705.00M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $160.00M USD 1 Quarter
Purchases of property, plant and equipment PaymentsToAcquirePropertyPlantAndEquipment $277.00M USD 1 Quarter
Proceeds from the sale of property, plant and equipment ProceedsFromSaleOfMachineryAndEquipment - USD 1 Quarter
Proceeds from the sale of property, plant and equipment ProceedsFromSaleOfMachineryAndEquipment $5.00M USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $93.00M USD 1 Quarter
Purchases of investments PaymentsToAcquireInvestments $38.00M USD 1 Quarter
Purchases of investments PaymentsToAcquireInvestments $11.00M USD 1 Quarter
Proceeds from sale of investments ProceedsFromSaleOfAvailableForSaleSecurities $14.00M USD 1 Quarter
Proceeds from sale of investments ProceedsFromSaleOfAvailableForSaleSecurities $6.00M USD 1 Quarter
Proceeds from maturities of investments ProceedsFromSaleOfHeldToMaturitySecurities $2.00M USD 1 Quarter
Proceeds from maturities of investments ProceedsFromSaleOfHeldToMaturitySecurities $3.00M USD 1 Quarter
Notes receivable issuances to Flash Ventures PaymentsForLongTermLoansForRelatedParties $229.00M USD 1 Quarter
Notes receivable issuances to Flash Ventures PaymentsForLongTermLoansForRelatedParties $115.00M USD 1 Quarter
Notes receivable proceeds from Flash Ventures ProceedsFromLongTermLoansForRelatedParties $98.00M USD 1 Quarter
Notes receivable proceeds from Flash Ventures ProceedsFromLongTermLoansForRelatedParties $144.00M USD 1 Quarter
Strategic investments and other, net PaymentsForProceedsFromOtherInvestingActivities $-23.00M USD 1 Quarter
Strategic investments and other, net PaymentsForProceedsFromOtherInvestingActivities $9.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-378.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-259.00M USD 1 Quarter
Issuance of stock under employee stock plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans $8.00M USD 1 Quarter
Issuance of stock under employee stock plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans $20.00M USD 1 Quarter
Taxes paid on vested stock awards under employee stock plans TaxesPaidOnVestedStockAwardsUnderEmployeeStockPlans $61.00M USD 1 Quarter
Taxes paid on vested stock awards under employee stock plans TaxesPaidOnVestedStockAwardsUnderEmployeeStockPlans $66.00M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $563.00M USD 1 Quarter
Dividends paid to shareholders PaymentsOfDividends $147.00M USD 1 Quarter
Dividends paid to shareholders PaymentsOfDividends $148.00M USD 1 Quarter
Dividends paid to shareholders PaymentsForProceedsFromHedgeFinancingActivities - USD 1 Quarter
Dividends paid to shareholders PaymentsForProceedsFromHedgeFinancingActivities $-26.00M USD 1 Quarter
Repayment of debt RepaymentsOfLongTermDebt $38.00M USD 1 Quarter
Repayment of debt RepaymentsOfLongTermDebt $62.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-224.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-807.00M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $1.00M USD 1 Quarter
Effect of exchange rate changes on cash EffectOfExchangeRateOnCashAndCashEquivalents $2.00M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $532.00M USD 1 Quarter
Net increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-359.00M USD 1 Quarter
Cash and cash equivalents, beginning of year CashAndCashEquivalentsAtCarryingValue $6.89B USD Point-in-time
Cash and cash equivalents, beginning of year CashAndCashEquivalentsAtCarryingValue $5.00B USD Point-in-time
Cash and cash equivalents, beginning of year CashAndCashEquivalentsAtCarryingValue $6.35B USD Point-in-time
Cash and cash equivalents, beginning of year CashAndCashEquivalentsAtCarryingValue $4.65B USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $6.89B USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $5.00B USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $6.35B USD Point-in-time
Cash and cash equivalents, end of period CashAndCashEquivalentsAtCarryingValue $4.65B USD Point-in-time
Cash paid for income taxes IncomeTaxesPaidNet $73.00M USD 1 Quarter
Cash paid for income taxes IncomeTaxesPaidNet $191.00M USD 1 Quarter
Cash paid for interest InterestPaidNet $71.00M USD 1 Quarter
Cash paid for interest InterestPaidNet $139.00M USD 1 Quarter
Comprehensive Income 14 line items
Line Item Tag Value Unit Period
Net income (loss) NetIncomeLoss $511.00M USD 1 Quarter
Net income (loss) NetIncomeLoss $681.00M USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax $-4.00M USD 1 Quarter
Foreign currency translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax $-37.00M USD 1 Quarter
Net unrealized gain (loss) on derivative contracts and available-for-sale securities OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodAndAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsAndTax $3.00M USD 1 Quarter
Net unrealized gain (loss) on derivative contracts and available-for-sale securities OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodAndAvailableForSaleSecuritiesAdjustmentBeforeReclassificationAdjustmentsAndTax $-1.00M USD 1 Quarter
Total other comprehensive loss, before tax OtherComprehensiveIncomeLossBeforeTax $-38.00M USD 1 Quarter
Total other comprehensive loss, before tax OtherComprehensiveIncomeLossBeforeTax $-1.00M USD 1 Quarter
Income tax benefit related to items of other comprehensive loss, before tax OtherComprehensiveIncomeLossTax - USD 1 Quarter
Income tax benefit related to items of other comprehensive loss, before tax OtherComprehensiveIncomeLossTax $-1.00M USD 1 Quarter
Other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTax $-1.00M USD 1 Quarter
Other comprehensive loss, net of tax OtherComprehensiveIncomeLossNetOfTax $-37.00M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $680.00M USD 1 Quarter
Total comprehensive income ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $474.00M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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