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10-Q Filing

Seagate Technology Holdings plc CIK: 1137789 Q1 2023
Filing Information
Form Type 10-Q
Accession Number 0001137789-22-000123
Period End Date 20220930
Filing Date 20221027
Fiscal Year 2023
Fiscal Period Q1
XBRL Instance stx-20220930_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 $615.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $761.00M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $991.00M USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $1.10B USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $1.53B USD Point-in-time
Inventories InventoryNet $1.56B USD Point-in-time
Inventories InventoryNet $1.61B USD Point-in-time
Other current assets OtherAssetsCurrent $275.00M USD Point-in-time
Other current assets OtherAssetsCurrent $321.00M USD Point-in-time
Total current assets AssetsCurrent $3.74B USD Point-in-time
Total current assets AssetsCurrent $4.03B USD Point-in-time
Property, equipment and leasehold improvements, net PropertyPlantAndEquipmentNet $2.20B USD Point-in-time
Property, equipment and leasehold improvements, net PropertyPlantAndEquipmentNet $2.24B 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 $5.00M USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $9.00M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $1.14B USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $1.13B USD Point-in-time
Other assets, net OtherAssetsNoncurrent $296.00M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $294.00M USD Point-in-time
Total Assets Assets $8.61B USD Point-in-time
Total Assets Assets $8.94B USD Point-in-time
Accounts payable AccountsPayableCurrent $2.06B USD Point-in-time
Accounts payable AccountsPayableCurrent $1.71B USD Point-in-time
Accrued employee compensation EmployeeRelatedLiabilitiesCurrent $106.00M USD Point-in-time
Accrued employee compensation EmployeeRelatedLiabilitiesCurrent $252.00M USD Point-in-time
Accrued warranty ProductWarrantyAccrualClassifiedCurrent $65.00M USD Point-in-time
Accrued warranty ProductWarrantyAccrualClassifiedCurrent $66.00M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $584.00M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $636.00M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $618.00M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $596.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $3.56B USD Point-in-time
Total current liabilities LiabilitiesCurrent $3.14B USD Point-in-time
Long-term accrued warranty ProductWarrantyAccrualNoncurrent $83.00M USD Point-in-time
Long-term accrued warranty ProductWarrantyAccrualNoncurrent $83.00M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $128.00M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $135.00M USD Point-in-time
Long-term debt, less current portion LongTermDebtNoncurrent $5.61B USD Point-in-time
Long-term debt, less current portion LongTermDebtNoncurrent $5.06B USD Point-in-time
Total Liabilities Liabilities $8.84B USD Point-in-time
Total Liabilities Liabilities $8.96B USD Point-in-time
Ordinary shares and additional paid-in capital CommonStocksIncludingAdditionalPaidInCapital $7.19B USD Point-in-time
Ordinary shares and additional paid-in capital CommonStocksIncludingAdditionalPaidInCapital $7.25B USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $36.00M USD Point-in-time
Accumulated other comprehensive income AccumulatedOtherComprehensiveIncomeLossNetOfTax $73.00M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-7.12B USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-7.67B USD Point-in-time
Total Shareholders (Deficit) Equity StockholdersEquity $601.00M USD Point-in-time
Total Shareholders (Deficit) Equity StockholdersEquity $631.00M USD Point-in-time
Total Shareholders (Deficit) Equity StockholdersEquity $-351.00M USD Point-in-time
Total Shareholders (Deficit) Equity StockholdersEquity $109.00M USD Point-in-time
Total Liabilities and Shareholders (Deficit) Equity LiabilitiesAndStockholdersEquity $8.94B USD Point-in-time
Total Liabilities and Shareholders (Deficit) Equity LiabilitiesAndStockholdersEquity $8.61B USD Point-in-time
Income Statement 38 line items
Line Item Tag Value Unit Period
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $3.12B USD 1 Quarter
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $2.04B USD 1 Quarter
Cost of revenue CostOfGoodsAndServicesSold $1.55B USD 1 Quarter
Cost of revenue CostOfGoodsAndServicesSold $2.16B USD 1 Quarter
Product development ResearchAndDevelopmentExpense $233.00M USD 1 Quarter
Product development ResearchAndDevelopmentExpense $234.00M USD 1 Quarter
Marketing and administrative SellingGeneralAndAdministrativeExpense $129.00M USD 1 Quarter
Marketing and administrative SellingGeneralAndAdministrativeExpense $133.00M 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 RestructuringCharges $1.00M USD 1 Quarter
Restructuring and other, net RestructuringCharges $9.00M USD 1 Quarter
Total operating expenses CostsAndExpenses $2.53B USD 1 Quarter
Total operating expenses CostsAndExpenses $1.93B USD 1 Quarter
Income from operations OperatingIncomeLoss $586.00M USD 1 Quarter
Income from operations OperatingIncomeLoss $107.00M USD 1 Quarter
Interest income InvestmentIncomeInterest - USD 1 Quarter
Interest income InvestmentIncomeInterest $1.00M USD 1 Quarter
Interest expense InterestExpense $71.00M USD 1 Quarter
Interest expense InterestExpense $59.00M USD 1 Quarter
Other, net OtherNonoperatingIncomeExpense $6.00M USD 1 Quarter
Other, net OtherNonoperatingIncomeExpense $-10.00M USD 1 Quarter
Other expense, net NonoperatingIncomeExpense $-53.00M USD 1 Quarter
Other expense, net NonoperatingIncomeExpense $-80.00M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $27.00M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $533.00M USD 1 Quarter
(Benefit from) provision for income taxes IncomeTaxExpenseBenefit $7.00M USD 1 Quarter
(Benefit from) provision for income taxes IncomeTaxExpenseBenefit $-2.00M USD 1 Quarter
Net income NetIncomeLoss $29.00M USD 1 Quarter
Net income NetIncomeLoss $526.00M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.14 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 $0.14 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 226.00M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 208.00M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 231.00M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 210.00M shares 1 Quarter
Cash Flow Statement 60 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $29.00M USD 1 Quarter
Net income NetIncomeLoss $526.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $104.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $135.00M USD 1 Quarter
Share-based compensation ShareBasedCompensation $29.00M 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 $-5.00M USD 1 Quarter
Other non-cash operating activities, net OtherNoncashIncomeExpense $-2.00M USD 1 Quarter
Other non-cash operating activities, net OtherNoncashIncomeExpense $-13.00M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $-434.00M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $143.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $41.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $-16.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-300.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $28.00M USD 1 Quarter
Accrued employee compensation IncreaseDecreaseInEmployeeRelatedLiabilities $-146.00M USD 1 Quarter
Accrued employee compensation IncreaseDecreaseInEmployeeRelatedLiabilities $-92.00M USD 1 Quarter
Accrued expenses, income taxes and warranty IncreaseDecreaseInOtherAccruedLiabilities $4.00M USD 1 Quarter
Accrued expenses, income taxes and warranty IncreaseDecreaseInOtherAccruedLiabilities $11.00M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $-14.00M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $-93.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $245.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $496.00M USD 1 Quarter
Acquisition of property, equipment and leasehold improvements PaymentsToAcquirePropertyPlantAndEquipment $117.00M USD 1 Quarter
Acquisition of property, equipment and leasehold improvements PaymentsToAcquirePropertyPlantAndEquipment $133.00M USD 1 Quarter
Proceeds from the sale of assets ProceedsFromSaleOfOtherAssetsInvestingActivities - USD 1 Quarter
Proceeds from the sale of assets ProceedsFromSaleOfOtherAssetsInvestingActivities $1.00M USD 1 Quarter
Purchases of investments PaymentsToAcquireAssetsInvestingActivities $1.00M USD 1 Quarter
Purchases of investments PaymentsToAcquireAssetsInvestingActivities $18.00M USD 1 Quarter
Proceeds from sale of investments ProceedsFromSalesOfAssetsInvestingActivities $15.00M USD 1 Quarter
Proceeds from sale of investments ProceedsFromSalesOfAssetsInvestingActivities - USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-133.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-120.00M USD 1 Quarter
Redemption and repurchase of debt RepaymentsOfLongTermDebt - USD 1 Quarter
Redemption and repurchase of debt RepaymentsOfLongTermDebt $6.00M USD 1 Quarter
Dividends to shareholders PaymentsOfDividendsCommonStock $147.00M USD 1 Quarter
Dividends to shareholders PaymentsOfDividendsCommonStock $153.00M USD 1 Quarter
Repurchases of ordinary shares PaymentsForRepurchaseOfCommonStock $425.00M USD 1 Quarter
Repurchases of ordinary shares PaymentsForRepurchaseOfCommonStock $408.00M USD 1 Quarter
Taxes paid related to net share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $43.00M USD 1 Quarter
Taxes paid related to net share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $39.00M USD 1 Quarter
Proceeds from issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt $600.00M USD 1 Quarter
Proceeds from issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt - 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
Other financing activities, net ProceedsFromPaymentsForOtherFinancingActivities - USD 1 Quarter
Other financing activities, net ProceedsFromPaymentsForOtherFinancingActivities $-1.00M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $-594.00M USD 1 Quarter
Net cash provided by (used in) financing activities NetCashProvidedByUsedInFinancingActivities $34.00M USD 1 Quarter
Increase (decrease) in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $146.00M USD 1 Quarter
Increase (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 $763.00M 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 $617.00M 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 end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $763.00M 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 $617.00M USD Point-in-time
Cash, cash equivalents and restricted cash at the end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $993.00M USD Point-in-time
Stockholders Equity 24 line items
Line Item Tag Value Unit Period
Beginning balance StockholdersEquity $601.00M USD Point-in-time
Beginning balance StockholdersEquity $631.00M USD Point-in-time
Beginning balance StockholdersEquity $-351.00M USD Point-in-time
Beginning balance StockholdersEquity $109.00M USD Point-in-time
Net income NetIncomeLoss $29.00M USD 1 Quarter
Net income NetIncomeLoss $526.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $37.00M USD 1 Quarter
Other comprehensive income OtherComprehensiveIncomeLossNetOfTax $-4.00M USD 1 Quarter
Issuance of ordinary shares under employee share plans StockIssuedDuringPeriodValueShareBasedCompensation $33.00M USD 1 Quarter
Issuance of ordinary shares under employee share plans StockIssuedDuringPeriodValueShareBasedCompensation $29.00M USD 1 Quarter
Repurchases of ordinary shares (in shares) StockRepurchasedDuringPeriodShares 5.00M shares 1 Quarter
Repurchases of ordinary shares StockRepurchasedDuringPeriodValue $400.00M USD 1 Quarter
Repurchases of ordinary shares StockRepurchasedDuringPeriodValue $425.00M USD 1 Quarter
Tax withholding related to vesting of restricted stock units (in shares) SharesPaidForTaxWithholdingForShareBasedCompensation 1.00M shares 1 Quarter
Tax withholding related to vesting of restricted share units AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $39.00M USD 1 Quarter
Tax withholding related to vesting of restricted share units AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $43.00M USD 1 Quarter
Dividends to shareholders ($0.67 per ordinary share) DividendsCommonStockCash $151.00M USD 1 Quarter
Dividends to shareholders ($0.67 per ordinary share) DividendsCommonStockCash $145.00M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $29.00M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $34.00M USD 1 Quarter
Ending balance StockholdersEquity $601.00M USD Point-in-time
Ending balance StockholdersEquity $631.00M USD Point-in-time
Ending balance StockholdersEquity $-351.00M USD Point-in-time
Ending balance StockholdersEquity $109.00M USD Point-in-time
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $29.00M USD 1 Quarter
Net income NetIncomeLoss $526.00M USD 1 Quarter
Net change OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $-6.00M USD 1 Quarter
Net change OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax $37.00M 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 $-1.00M USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $37.00M USD 1 Quarter
Total other comprehensive income (loss), net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-4.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $66.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $522.00M USD 1 Quarter

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

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