Question
SEAGATE TECHNOLOGY PLC Consolidated Balance Sheet June 28, 2019 ($ millions) Current assets Cash and cash equivalents $2,220 Accounts receivable, net 989 Inventories 970 Other
SEAGATE TECHNOLOGY PLC Consolidated Balance Sheet | |
June 28, 2019 ($ millions) | |
Current assets | |
Cash and cash equivalents | $2,220 |
Accounts receivable, net | 989 |
Inventories | 970 |
Other current assets | 184 |
Total current assets | 4,363 |
Property, equipment and leasehold improvements, net | 1,869 |
Goodwill | 1,237 |
Other intangible assets, net | 111 |
Deferred income taxes | 1,114 |
Other assets, net | 191 |
Total assets | $8,885 |
Current liabilities | |
Accounts payable | $1,420 |
Accrued employee compensation | 169 |
Accrued warranty | 91 |
Accrued expenses | 552 |
Total current liabilities | 2,232 |
Long-term accrued warranty | 104 |
Long-term accrued income taxes . | 4 |
Other noncurrent liabilities | 130 |
Long-term debt, less current portion | 4,253 |
Total liabilities | 6,723 |
Shareholders equity | |
Ordinary shares par value $0.0001, 2.6 billion shares authorized, 1,340,697,595 and | |
1,354,218,154 shares issued and outstanding, respectively | 0 |
Additional paid-in capital | 6,545 |
Accumulated other comprehensive loss | (34) |
Accumulated deficit | (4,349) |
Total shareholders' equity | 2,162 |
Total liabilities and shareholders' equity | $8,885 |
Forecast Seagate Technologys 2020 balance sheet using the following forecast assumptions, which are expressed as a percentage of revenue unless otherwise indicated.
Accounts receivable, net | 9.5% |
Inventories | 9.3% |
Other current assets | 1.8% |
Deferred income taxes | 10.7% |
Other assets, net | 1.8% |
Accounts payable | 13.7% |
Accrued employee compensation | 1.6% |
Accrued warranty | 0.9% |
Accrued expenses | 5.3% |
Long-term accrued warranty | 1.0% |
Other noncurrent liabilities | 1.3% |
- Forecast no change in the following balance sheet accounts: Goodwill, Long-term accrued income taxes, Long-term debt, less current portion, Ordinary shares, and Accumulated other comprehensive loss.
- Assume that in 2020, CAPEX will be 5.8% of revenue, and depreciation expense will be 5.4% of Property, equipment and leasehold improvements, gross at the start of the year, which was $9,835 million.
- Assume that in 2020, the company awards $99 million of stock-based compensation which increases Additional paid-in capital by the same amount. Assume that the company routinely includes this form of compensation in operating expenses each year.
- The company has a dividend payout ratio of 35.4% of net income.
- Round all answers to the nearest whole number.
- Use a negative sign for your Accumulated other comprehensive loss and Accumulated deficit answers.
SEAGATE TECHNOLOGY PLC Forecasted Balance Sheet ($ millions) | June 2020 |
Current assets | |
Cash and cash equivalents | Answer |
Accounts receivable, net | Answer |
Inventories | Answer |
Other current assets | Answer |
Total current assets | Answer |
Property, equipment and leasehold improvements, net | Answer |
Goodwill | Answer |
Other intangible assets, net | Answer |
Deferred income taxes | Answer |
Other assets, net | Answer |
Total assets | Answer |
Current liabilities | Answer |
Accounts payable | Answer |
Accrued employee compensation | Answer |
Accrued warranty | Answer |
Accrued expenses | Answer |
Total current liabilities | Answer |
Long-term accrued warranty | Answer |
Long-term accrued income taxes . | Answer |
Other noncurrent liabilities | Answer |
Long-term debt, less current portion | Answer |
Total liabilities | Answer |
Shareholders equity | Answer |
Ordinary shares par value $0.0001, 2.6 billion shares authorized, 1,340,697,595 and | Answer |
1,354,218,154 shares issued and outstanding, respectively | Answer |
Additional paid-in capital | Answer |
Accumulated other comprehensive loss | Answer |
Accumulated deficit | Answer |
Total shareholders' equity | Answer |
Total liabilities and shareholders' equity | Answer |
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