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10-Q Filing

Seagate Technology Holdings plc CIK: 1137789 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0001137789-21-000128
Period End Date 20210930
Filing Date 20211028
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance stx-20211001_htm.xml
Balance Sheet 56 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.21B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.66B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $991.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.72B USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $1.16B USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $1.30B USD Point-in-time
Inventories InventoryNet $1.20B USD Point-in-time
Inventories InventoryNet $1.19B USD Point-in-time
Other current assets OtherAssetsCurrent $188.00M USD Point-in-time
Other current assets OtherAssetsCurrent $208.00M USD Point-in-time
Total current assets AssetsCurrent $3.67B USD Point-in-time
Total current assets AssetsCurrent $3.78B USD Point-in-time
Property, equipment and leasehold improvements, net PropertyPlantAndEquipmentNet $2.18B USD Point-in-time
Property, equipment and leasehold improvements, net PropertyPlantAndEquipmentNet $2.21B USD Point-in-time
Goodwill Goodwill $1.24B USD Point-in-time
Goodwill Goodwill $1.24B USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $29.00M USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $24.00M USD Point-in-time
Deferred Income Tax Assets, Net DeferredIncomeTaxAssetsNet $1.13B USD Point-in-time
Deferred Income Tax Assets, Net DeferredIncomeTaxAssetsNet $1.12B USD Point-in-time
Other assets, net OtherAssetsNoncurrent $332.00M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $343.00M USD Point-in-time
Total Assets Assets $8.61B USD Point-in-time
Total Assets Assets $8.68B USD Point-in-time
Accounts payable AccountsPayableCurrent $1.77B USD Point-in-time
Accounts payable AccountsPayableCurrent $1.73B USD Point-in-time
Accrued employee compensation EmployeeRelatedLiabilitiesCurrent $190.00M USD Point-in-time
Accrued employee compensation EmployeeRelatedLiabilitiesCurrent $282.00M USD Point-in-time
Accrued warranty ProductWarrantyAccrualClassifiedCurrent $61.00M USD Point-in-time
Accrued warranty ProductWarrantyAccrualClassifiedCurrent $62.00M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $626.00M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $608.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.92B USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.89B USD Point-in-time
Long-term accrued warranty ProductWarrantyAccrualNoncurrent $78.00M USD Point-in-time
Long-term accrued warranty ProductWarrantyAccrualNoncurrent $75.00M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $154.00M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $154.00M USD Point-in-time
Long-term Debt, Excluding Current Maturities LongTermDebtNoncurrent $4.89B USD Point-in-time
Long-term Debt, Excluding Current Maturities LongTermDebtNoncurrent $4.89B USD Point-in-time
Total Liabilities Liabilities $8.04B USD Point-in-time
Total Liabilities Liabilities $8.01B USD Point-in-time
Ordinary shares and additional paid-in capital CommonStocksIncludingAdditionalPaidInCapital $6.98B USD Point-in-time
Ordinary shares and additional paid-in capital CommonStocksIncludingAdditionalPaidInCapital $7.04B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-45.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-41.00M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-6.40B USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-6.30B USD Point-in-time
Total Equity StockholdersEquity $601.00M USD Point-in-time
Total Equity StockholdersEquity $1.79B USD Point-in-time
Total Equity StockholdersEquity $1.82B USD Point-in-time
Total Equity StockholdersEquity $631.00M USD Point-in-time
Total Liabilities and Equity LiabilitiesAndStockholdersEquity $8.68B USD Point-in-time
Total Liabilities and Equity LiabilitiesAndStockholdersEquity $8.61B USD Point-in-time
Less: current portion of debt LongTermDebtCurrent $245.00M USD Point-in-time
Less: current portion of debt LongTermDebtCurrent $245.00M USD Point-in-time
Income Statement 40 line items
Line Item Tag Value Unit Period
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $2.31B USD 1 Quarter
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $3.12B USD 1 Quarter
Cost of revenue CostOfGoodsAndServicesSold $2.16B USD 1 Quarter
Cost of revenue CostOfGoodsAndServicesSold $1.72B USD 1 Quarter
Product development ResearchAndDevelopmentExpense $223.00M USD 1 Quarter
Product development ResearchAndDevelopmentExpense $233.00M USD 1 Quarter
Marketing and administrative SellingGeneralAndAdministrativeExpense $133.00M USD 1 Quarter
Marketing and administrative SellingGeneralAndAdministrativeExpense $118.00M USD 1 Quarter
Amortization of intangibles Amortizationofintangibleassetsexcludingamountincludedincostofrevenue $3.00M USD 1 Quarter
Amortization of intangibles Amortizationofintangibleassetsexcludingamountincludedincostofrevenue $3.00M USD 1 Quarter
Restructuring and other, net RestructuringCostsAndAssetImpairmentCharges $1.00M USD 1 Quarter
Restructuring and other, net RestructuringCostsAndAssetImpairmentCharges $1.00M USD 1 Quarter
Total operating expenses CostsAndExpenses $2.53B USD 1 Quarter
Total operating expenses CostsAndExpenses $2.06B USD 1 Quarter
Income from operations OperatingIncomeLoss $251.00M USD 1 Quarter
Income from operations OperatingIncomeLoss $586.00M USD 1 Quarter
Interest income InvestmentIncomeInterest - USD 1 Quarter
Interest income InvestmentIncomeInterest $1.00M USD 1 Quarter
Interest expense InterestExpense $50.00M USD 1 Quarter
Interest expense InterestExpense $59.00M USD 1 Quarter
Other Nonoperating Income (Expense) OtherNonoperatingIncomeExpense $19.00M USD 1 Quarter
Other Nonoperating Income (Expense) OtherNonoperatingIncomeExpense $6.00M USD 1 Quarter
Other expense, net NonoperatingIncomeExpense $-30.00M USD 1 Quarter
Other expense, net NonoperatingIncomeExpense $-53.00M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $533.00M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $221.00M USD 1 Quarter
Provision (benefit) for income taxes IncomeTaxExpenseBenefit $-2.00M USD 1 Quarter
Provision (benefit) for income taxes IncomeTaxExpenseBenefit $7.00M USD 1 Quarter
Net income NetIncomeLoss $526.00M USD 1 Quarter
Net income NetIncomeLoss $223.00M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.87 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $2.33 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $2.28 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.86 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 257.00M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 226.00M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 231.00M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 259.00M shares 1 Quarter
Cash dividends declared per ordinary share (in dollars per share) CommonStockDividendsPerShareDeclared $0.65 USD 1 Quarter
Cash dividends declared per ordinary share (in dollars per share) CommonStockDividendsPerShareDeclared $0.67 USD 1 Quarter
Cash Flow Statement 56 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $526.00M USD 1 Quarter
Net income NetIncomeLoss $223.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $104.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $99.00M USD 1 Quarter
Share-based compensation ShareBasedCompensation $28.00M USD 1 Quarter
Share-based compensation ShareBasedCompensation $34.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-4.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-18.00M USD 1 Quarter
Other non-cash operating activities, net OtherNoncashIncomeExpense $-2.00M USD 1 Quarter
Other non-cash operating activities, net OtherNoncashIncomeExpense $8.00M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $143.00M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $-249.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $181.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-16.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $28.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-24.00M USD 1 Quarter
Accrued employee compensation IncreaseDecreaseInEmployeeRelatedLiabilities $-67.00M USD 1 Quarter
Accrued employee compensation IncreaseDecreaseInEmployeeRelatedLiabilities $-92.00M USD 1 Quarter
Accrued expenses, income taxes and warranty IncreaseDecreaseInOtherAccruedLiabilities $11.00M USD 1 Quarter
Accrued expenses, income taxes and warranty IncreaseDecreaseInOtherAccruedLiabilities $-21.00M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $-17.00M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $-14.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $496.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $297.00M USD 1 Quarter
Acquisition of property, equipment and leasehold improvements PaymentsToAcquirePropertyPlantAndEquipment $117.00M USD 1 Quarter
Acquisition of property, equipment and leasehold improvements PaymentsToAcquirePropertyPlantAndEquipment $111.00M USD 1 Quarter
Purchases of investments PaymentsToAcquireAssetsInvestingActivities $4.00M USD 1 Quarter
Purchases of investments PaymentsToAcquireAssetsInvestingActivities $18.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-120.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-104.00M USD 1 Quarter
Redemption and repurchase of debt RepaymentsOfLongTermDebt $6.00M USD 1 Quarter
Redemption and repurchase of debt RepaymentsOfLongTermDebt $13.00M USD 1 Quarter
Dividends to shareholders PaymentsOfDividendsCommonStock $167.00M USD 1 Quarter
Dividends to shareholders PaymentsOfDividendsCommonStock $153.00M USD 1 Quarter
Repurchases of ordinary shares PaymentsForRepurchaseOfCommonStock $68.00M USD 1 Quarter
Repurchases of ordinary shares PaymentsForRepurchaseOfCommonStock $425.00M USD 1 Quarter
Taxes paid related to net share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $31.00M USD 1 Quarter
Taxes paid related to net share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $43.00M USD 1 Quarter
Proceeds from issuance of ordinary shares under employee stock plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions $29.00M USD 1 Quarter
Proceeds from issuance of ordinary shares under employee stock plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions $33.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-251.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-594.00M USD 1 Quarter
Decrease in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-58.00M USD 1 Quarter
Decrease in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-218.00M USD 1 Quarter
Cash, cash equivalents and restricted cash at the beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.67B USD Point-in-time
Cash, cash equivalents and restricted cash at the beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.21B USD Point-in-time
Cash, cash equivalents and restricted cash at the beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $993.00M USD Point-in-time
Cash, cash equivalents and restricted cash at the beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.72B USD Point-in-time
Cash, cash equivalents and restricted cash at the end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.67B USD Point-in-time
Cash, cash equivalents and restricted cash at the end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.21B USD Point-in-time
Cash, cash equivalents and restricted cash at the end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $993.00M USD Point-in-time
Cash, cash equivalents and restricted cash at the end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.72B USD Point-in-time
Proceeds from Sales of Assets, Investing Activities ProceedsFromSalesOfAssetsInvestingActivities $15.00M USD 1 Quarter
Proceeds from Sales of Assets, Investing Activities ProceedsFromSalesOfAssetsInvestingActivities $11.00M USD 1 Quarter
Proceeds from (Payments for) Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities - USD 1 Quarter
Proceeds from (Payments for) Other Financing Activities ProceedsFromPaymentsForOtherFinancingActivities $-1.00M USD 1 Quarter
Stockholders Equity 24 line items
Line Item Tag Value Unit Period
Beginning balance StockholdersEquity $601.00M USD Point-in-time
Beginning balance StockholdersEquity $1.79B USD Point-in-time
Beginning balance StockholdersEquity $1.82B USD Point-in-time
Beginning balance StockholdersEquity $631.00M USD Point-in-time
Net income NetIncomeLoss $526.00M USD 1 Quarter
Net income NetIncomeLoss $223.00M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $20.00M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-4.00M USD 1 Quarter
Issuance of ordinary shares under employee share plans StockIssuedDuringPeriodValueShareBasedCompensation $29.00M USD 1 Quarter
Issuance of ordinary shares under employee share plans StockIssuedDuringPeriodValueShareBasedCompensation $33.00M USD 1 Quarter
Repurchases of ordinary shares (in shares) StockRepurchasedDuringPeriodShares 5.00M shares 1 Quarter
Repurchases of ordinary shares StockRepurchasedDuringPeriodValue $425.00M USD 1 Quarter
Repurchases of ordinary shares StockRepurchasedDuringPeriodValue $68.00M USD 1 Quarter
Tax withholding related to vesting of restricted stock units (in shares) SharesPaidForTaxWithholdingForShareBasedCompensation 0.00 shares 1 Quarter
Tax withholding related to vesting of restricted share units AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $31.00M USD 1 Quarter
Tax withholding related to vesting of restricted share units AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $43.00M USD 1 Quarter
Dividends to shareholders ($0.65 per ordinary share) DividendsCommonStockCash $167.00M USD 1 Quarter
Dividends to shareholders ($0.65 per ordinary share) DividendsCommonStockCash $151.00M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $34.00M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $28.00M USD 1 Quarter
Ending balance StockholdersEquity $601.00M USD Point-in-time
Ending balance StockholdersEquity $1.79B USD Point-in-time
Ending balance StockholdersEquity $1.82B USD Point-in-time
Ending balance StockholdersEquity $631.00M USD Point-in-time
Comprehensive Income 20 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $526.00M USD 1 Quarter
Net income NetIncomeLoss $223.00M USD 1 Quarter
Net unrealized (losses) gains arising during the period OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-9.00M USD 1 Quarter
Net unrealized (losses) gains arising during the period OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $4.00M USD 1 Quarter
Losses (gains) reclassified into earnings OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax $3.00M USD 1 Quarter
Losses (gains) reclassified into earnings OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax - USD 1 Quarter
Net change OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $-6.00M USD 1 Quarter
Net change OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax $4.00M USD 1 Quarter
Net unrealized gains arising during the period OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax - USD 1 Quarter
Net unrealized gains arising during the period OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax $1.00M USD 1 Quarter
Losses reclassified into earnings OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax $-1.00M USD 1 Quarter
Losses reclassified into earnings OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax $-1.00M USD 1 Quarter
Net change OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-2.00M USD 1 Quarter
Net change OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax $-1.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax - USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $15.00M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-4.00M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $20.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $522.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $243.00M USD 1 Quarter

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

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