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10-Q Filing

Seagate Technology Holdings plc CIK: 1137789 Q1 2020
Filing Information
Form Type 10-Q
Accession Number 0001628280-19-013092
Period End Date 20190930
Filing Date 20191101
Fiscal Year 2020
Fiscal Period Q1
XBRL Instance stx-20191004x10qq120_htm.xml
Balance Sheet 56 line items
Line Item Tag Value Unit Period
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $2.22B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.94B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.78B USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $1.85B USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $1.06B USD Point-in-time
Accounts receivable, net AccountsReceivableNetCurrent $989.00M USD Point-in-time
Inventories InventoryNet $970.00M USD Point-in-time
Inventories InventoryNet $1.04B USD Point-in-time
Other current assets OtherAssetsCurrent $184.00M USD Point-in-time
Other current assets OtherAssetsCurrent $141.00M USD Point-in-time
Total current assets AssetsCurrent $4.03B USD Point-in-time
Total current assets AssetsCurrent $4.36B USD Point-in-time
Property, equipment and leasehold improvements, net PropertyPlantAndEquipmentNet $1.87B USD Point-in-time
Property, equipment and leasehold improvements, net PropertyPlantAndEquipmentNet $1.99B 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 $111.00M USD Point-in-time
Other intangible assets, net IntangibleAssetsNetExcludingGoodwill $97.00M USD Point-in-time
Deferred Income Tax Assets, Net DeferredIncomeTaxAssetsNet $1.11B USD Point-in-time
Deferred Income Tax Assets, Net DeferredIncomeTaxAssetsNet $1.13B USD Point-in-time
Other assets, net OtherAssetsNoncurrent $254.00M USD Point-in-time
Other assets, net OtherAssetsNoncurrent $191.00M USD Point-in-time
Total Assets Assets $8.74B USD Point-in-time
Total Assets Assets $8.88B USD Point-in-time
Accounts payable AccountsPayableCurrent $1.75B USD Point-in-time
Accounts payable AccountsPayableCurrent $1.42B USD Point-in-time
Accrued employee compensation EmployeeRelatedLiabilitiesCurrent $169.00M USD Point-in-time
Accrued employee compensation EmployeeRelatedLiabilitiesCurrent $149.00M USD Point-in-time
Accrued warranty ProductWarrantyAccrualClassifiedCurrent $91.00M USD Point-in-time
Accrued warranty ProductWarrantyAccrualClassifiedCurrent $86.00M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $552.00M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $564.00M USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.55B USD Point-in-time
Total current liabilities LiabilitiesCurrent $2.23B USD Point-in-time
Long-term accrued warranty ProductWarrantyAccrualNoncurrent $98.00M USD Point-in-time
Long-term accrued warranty ProductWarrantyAccrualNoncurrent $104.00M USD Point-in-time
Long-term accrued income taxes AccruedIncomeTaxesNoncurrent $4.00M USD Point-in-time
Long-term accrued income taxes AccruedIncomeTaxesNoncurrent $3.00M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $178.00M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $130.00M USD Point-in-time
Long-term debt LongTermDebtNoncurrent $4.25B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $4.14B USD Point-in-time
Total Liabilities Liabilities $6.97B USD Point-in-time
Total Liabilities Liabilities $6.72B USD Point-in-time
Ordinary shares and additional paid-in capital CommonStocksIncludingAdditionalPaidInCapital $6.54B USD Point-in-time
Ordinary shares and additional paid-in capital CommonStocksIncludingAdditionalPaidInCapital $6.61B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-34.00M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-40.00M USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-4.80B USD Point-in-time
Accumulated deficit RetainedEarningsAccumulatedDeficit $-4.35B USD Point-in-time
Total Equity StockholdersEquity $2.16B USD Point-in-time
Total Equity StockholdersEquity $1.85B USD Point-in-time
Total Equity StockholdersEquity $1.77B USD Point-in-time
Total Equity StockholdersEquity $1.67B USD Point-in-time
Total Liabilities and Equity LiabilitiesAndStockholdersEquity $8.74B USD Point-in-time
Total Liabilities and Equity LiabilitiesAndStockholdersEquity $8.88B USD Point-in-time
Income Statement 40 line items
Line Item Tag Value Unit Period
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $2.58B USD 1 Quarter
Revenue RevenueFromContractWithCustomerExcludingAssessedTax $2.99B USD 1 Quarter
Cost of revenue CostOfGoodsAndServicesSold $2.08B USD 1 Quarter
Cost of revenue CostOfGoodsAndServicesSold $1.91B USD 1 Quarter
Product development ResearchAndDevelopmentExpense $255.00M USD 1 Quarter
Product development ResearchAndDevelopmentExpense $266.00M USD 1 Quarter
Marketing and administrative SellingGeneralAndAdministrativeExpense $122.00M USD 1 Quarter
Marketing and administrative SellingGeneralAndAdministrativeExpense $115.00M USD 1 Quarter
Amortization of intangibles Amortizationofintangibleassetsexcludingamountincludedincostofrevenue $4.00M USD 1 Quarter
Amortization of intangibles Amortizationofintangibleassetsexcludingamountincludedincostofrevenue $6.00M USD 1 Quarter
Restructuring and other, net RestructuringCostsAndAssetImpairmentCharges $23.00M USD 1 Quarter
Restructuring and other, net RestructuringCostsAndAssetImpairmentCharges $17.00M USD 1 Quarter
Total operating expenses CostsAndExpenses $2.49B USD 1 Quarter
Total operating expenses CostsAndExpenses $2.31B USD 1 Quarter
Income from operations OperatingIncomeLoss $503.00M USD 1 Quarter
Income from operations OperatingIncomeLoss $273.00M USD 1 Quarter
Interest income InvestmentIncomeInterest $11.00M USD 1 Quarter
Interest income InvestmentIncomeInterest $24.00M USD 1 Quarter
Interest expense InterestExpense $58.00M USD 1 Quarter
Interest expense InterestExpense $55.00M USD 1 Quarter
Other, net OtherNonoperatingIncomeExpense $-1.00M USD 1 Quarter
Other, net OtherNonoperatingIncomeExpense $-31.00M USD 1 Quarter
Other expense, net NonoperatingIncomeExpense $-75.00M USD 1 Quarter
Other expense, net NonoperatingIncomeExpense $-35.00M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $198.00M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $468.00M USD 1 Quarter
(Benefit) provision for income taxes IncomeTaxExpenseBenefit $-2.00M USD 1 Quarter
(Benefit) provision for income taxes IncomeTaxExpenseBenefit $18.00M USD 1 Quarter
Net income NetIncomeLoss $200.00M USD 1 Quarter
Net income NetIncomeLoss $450.00M USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $1.57 USD 1 Quarter
Basic (in dollars per share) EarningsPerShareBasic $0.75 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $0.74 USD 1 Quarter
Diluted (in dollars per share) EarningsPerShareDiluted $1.54 USD 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 287.00M shares 1 Quarter
Basic (in shares) WeightedAverageNumberOfSharesOutstandingBasic 266.00M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 292.00M shares 1 Quarter
Diluted (in shares) WeightedAverageNumberOfDilutedSharesOutstanding 270.00M shares 1 Quarter
Cash dividends declared per ordinary share (in dollars per share) CommonStockDividendsPerShareDeclared $0.63 USD 1 Quarter
Cash dividends declared per ordinary share (in dollars per share) CommonStockDividendsPerShareDeclared $0.63 USD 1 Quarter
Cash Flow Statement 58 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $200.00M USD 1 Quarter
Net income NetIncomeLoss $450.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $134.00M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $92.00M USD 1 Quarter
Share-based compensation ShareBasedCompensation $26.00M USD 1 Quarter
Share-based compensation ShareBasedCompensation $18.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $2.00M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-12.00M USD 1 Quarter
Other non-cash operating activities, net OtherNoncashIncomeExpense $-44.00M USD 1 Quarter
Other non-cash operating activities, net OtherNoncashIncomeExpense $18.00M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $77.00M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInAccountsReceivable $9.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $66.00M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $65.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $281.00M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $119.00M USD 1 Quarter
Accrued employee compensation IncreaseDecreaseInEmployeeRelatedLiabilities $-20.00M USD 1 Quarter
Accrued employee compensation IncreaseDecreaseInEmployeeRelatedLiabilities $-79.00M USD 1 Quarter
Accrued expenses, income taxes and warranty IncreaseDecreaseInOtherAccruedLiabilities $-7.00M USD 1 Quarter
Accrued expenses, income taxes and warranty IncreaseDecreaseInOtherAccruedLiabilities $45.00M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $9.00M USD 1 Quarter
Other assets and liabilities IncreaseDecreaseInOtherOperatingCapitalNet $6.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $456.00M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $587.00M USD 1 Quarter
Acquisition of property, equipment and leasehold improvements PaymentsToAcquirePropertyPlantAndEquipment $177.00M USD 1 Quarter
Acquisition of property, equipment and leasehold improvements PaymentsToAcquirePropertyPlantAndEquipment $147.00M USD 1 Quarter
Proceeds from sale of properties previously classified as held for sale ProceedsFromSaleOfPropertyHeldForSale $6.00M USD 1 Quarter
Proceeds from sale of properties previously classified as held for sale ProceedsFromSaleOfPropertyHeldForSale - USD 1 Quarter
Purchases of strategic investments PaymentsToAcquireAssetsInvestingActivities $5.00M USD 1 Quarter
Purchases of strategic investments PaymentsToAcquireAssetsInvestingActivities $4.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-151.00M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-176.00M USD 1 Quarter
Redemption and repurchase of debt RepaymentsOfLongTermDebt $645.00M USD 1 Quarter
Redemption and repurchase of debt RepaymentsOfLongTermDebt - USD 1 Quarter
Dividends to shareholders PaymentsOfDividendsCommonStock $181.00M USD 1 Quarter
Dividends to shareholders PaymentsOfDividendsCommonStock $170.00M USD 1 Quarter
Repurchases of ordinary shares PaymentsForRepurchaseOfCommonStock $450.00M USD 1 Quarter
Repurchases of ordinary shares PaymentsForRepurchaseOfCommonStock $150.00M USD 1 Quarter
Taxes paid related to net share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $37.00M USD 1 Quarter
Taxes paid related to net share settlement of equity awards PaymentsRelatedToTaxWithholdingForShareBasedCompensation $27.00M USD 1 Quarter
Net proceeds from issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt - USD 1 Quarter
Net proceeds from issuance of long-term debt ProceedsFromIssuanceOfLongTermDebt $498.00M USD 1 Quarter
Proceeds from issuance of ordinary shares under employee stock plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions $32.00M USD 1 Quarter
Proceeds from issuance of ordinary shares under employee stock plans ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions $39.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-326.00M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-765.00M USD 1 Quarter
Effect of foreign currency exchange rate changes on cash, cash equivalents and restricted cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $-5.00M USD 1 Quarter
Effect of foreign currency exchange rate changes on cash, cash equivalents and restricted cash EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $3.00M USD 1 Quarter
(Decrease) increase in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $88.00M USD 1 Quarter
(Decrease) increase in cash, cash equivalents and restricted cash CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $-465.00M USD 1 Quarter
Cash, cash equivalents and restricted cash at the beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.95B USD Point-in-time
Cash, cash equivalents and restricted cash at the beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.79B USD Point-in-time
Cash, cash equivalents and restricted cash at the beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.86B USD Point-in-time
Cash, cash equivalents and restricted cash at the beginning of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.25B USD Point-in-time
Cash, cash equivalents and restricted cash at the end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.95B USD Point-in-time
Cash, cash equivalents and restricted cash at the end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.79B USD Point-in-time
Cash, cash equivalents and restricted cash at the end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $1.86B USD Point-in-time
Cash, cash equivalents and restricted cash at the end of the period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $2.25B USD Point-in-time
Stockholders Equity 24 line items
Line Item Tag Value Unit Period
Beginning balance StockholdersEquity $2.16B USD Point-in-time
Beginning balance StockholdersEquity $1.85B USD Point-in-time
Beginning balance StockholdersEquity $1.77B USD Point-in-time
Beginning balance StockholdersEquity $1.67B USD Point-in-time
Net income NetIncomeLoss $200.00M USD 1 Quarter
Net income NetIncomeLoss $450.00M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-6.00M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $4.00M USD 1 Quarter
Issuance of ordinary shares under employee stock plans StockIssuedDuringPeriodValueShareBasedCompensation $32.00M USD 1 Quarter
Issuance of ordinary shares under employee stock plans StockIssuedDuringPeriodValueShareBasedCompensation $39.00M USD 1 Quarter
Repurchases of ordinary shares (in shares) StockRepurchasedDuringPeriodShares 9.00M shares 1 Quarter
Repurchases of ordinary shares StockRepurchasedDuringPeriodValue $150.00M USD 1 Quarter
Repurchases of ordinary shares StockRepurchasedDuringPeriodValue $447.00M 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 stock units AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $27.00M USD 1 Quarter
Tax withholding related to vesting of restricted stock units AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $37.00M USD 1 Quarter
Dividends to shareholders DividendsCommonStockCash $180.00M USD 1 Quarter
Dividends to shareholders DividendsCommonStockCash $165.00M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $18.00M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $26.00M USD 1 Quarter
Ending balance StockholdersEquity $2.16B USD Point-in-time
Ending balance StockholdersEquity $1.85B USD Point-in-time
Ending balance StockholdersEquity $1.77B USD Point-in-time
Ending balance StockholdersEquity $1.67B USD Point-in-time
Comprehensive Income 26 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $200.00M USD 1 Quarter
Net income NetIncomeLoss $450.00M USD 1 Quarter
Change in net unrealized gain (loss) on cash flow hedges OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $-1.00M USD 1 Quarter
Change in net unrealized gain (loss) on cash flow hedges OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax $3.00M USD 1 Quarter
Less: reclassification for amounts included in net income OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax $1.00M USD 1 Quarter
Less: reclassification for amounts included in net income OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIOnDerivativesNetOfTax - USD 1 Quarter
Net change OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $-1.00M USD 1 Quarter
Net change OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesNetOfTax $2.00M USD 1 Quarter
Change in net unrealized gain (loss) on available-for-sale debt securities OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax - USD 1 Quarter
Change in net unrealized gain (loss) on available-for-sale debt securities OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax - USD 1 Quarter
Less: reclassification for amounts included in net income OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax - USD 1 Quarter
Less: reclassification for amounts included in net income OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax - USD 1 Quarter
Net change OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax - USD 1 Quarter
Net change OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax - USD 1 Quarter
Change in unrealized gain (loss) on post-retirement plans OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax - USD 1 Quarter
Change in unrealized gain (loss) on post-retirement plans OtherComprehensiveIncomeDefinedBenefitPlansNetUnamortizedGainLossArisingDuringPeriodNetOfTax - USD 1 Quarter
Less: reclassification for amounts included in net income OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax - USD 1 Quarter
Less: reclassification for amounts included in net income OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIPensionAndOtherPostretirementBenefitPlansForNetGainLossNetOfTax - USD 1 Quarter
Net change OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax - USD 1 Quarter
Net change OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax - USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $2.00M USD 1 Quarter
Foreign currency translation adjustments OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-5.00M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-6.00M USD 1 Quarter
Other comprehensive income (loss) OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $4.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $454.00M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $194.00M USD 1 Quarter

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

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