Fiscal Q3 2010

Fiscal Q3 2010
Supplemental Financial Information
Financial Highlights – 8 Quarter Trend
Summary of Certain Cash & Non-Cash Items
Fiscal Q3 2010 Financial Results
$ Millions
FQ3'10
Acquisition Related
Costs
$9
YTD
$29
Amortization of Purchased
Intangibles
See pg 3
Restructuring Related
Costs
$4
$50
Restructuring charges such as
severance (AMK/IHQ $39M)
and other exit costs (Pittsburgh
Site Closure $9M)
Impairment Longlived Assets
--
$64
Property, plant and equipment
write-down
$13
$143
Approximately $0.03 per share
for FQ3’10; $0.28 year to date
Total Expense/(Gain)
Supplemental Financial Information
Fiscal Q3 2010 (quarter ended April 2, 2010)
Page 2
Acquisition Related Costs
Fiscal Q3 2010 (March Quarter)
$ Millions – P&L Classification
FQ3'10
YTD
Cost of Revenue
$1
$6
Amortization of Intangibles
$8
$23
Total
$9
$29
Relates primarily to the 2006 acquisition of Maxtor
Supplemental Financial Information
Fiscal Q3 2010 (quarter ended April 2, 2010)
Page 3
Cash from Operations and Free Cash Flow
Fiscal Q3 2010 (March Quarter)
$ Millions
Net Cash Provided by Operating Activities
Less: Acquisition of Property, Equipment and
Leasehold Improvements
Free Cash Flow
FQ3'10
YTD
$577
$1,608
($180)
($372)
$397
$1,236
Source: Condensed Consolidated Statements of Cash Flows (unaudited) for the period ended April 2, 2010
Seagate disclosed on a conference call with investors on April 20, 2010, after making certain non-GAAP adjustments, nonGAAP Free Cash Flow. A reconciliation of the adjustments to Net Cash provided by Operating Activities in accordance with
GAAP is included in the table above. This additional non-GAAP financial information is not meant to be considered in
isolation or as a substitute for Net Cash Provided by Operating Activities. You should not compare our non-GAAP free cash
flow with those of other companies, as the adjustments made to our GAAP results are unique to Seagate.
Supplemental Financial Information
Fiscal Q3 2010 (quarter ended April 2, 2010)
Page 4
Preliminary Results
Financial Highlights – 8 Quarter Trend
$ Millions
Q4 FY08
$2,899
Q1 FY09
$3,033
Q2 FY09
$2,270
Q3 FY09
$2,150
Q4 FY09
$2,353
Q1 FY10
$2,663
Q2 FY10
$3,027
Q3 FY10
$3,049
$ Aggregate Customer Mix
OEM
Distribution
Retail
68%
25%
7%
66%
27%
7%
67%
26%
7%
61%
29%
10%
65%
25%
10%
68%
24%
8%
69%
22%
9%
72%
21%
7%
$ Geographic
North America
Europe
Asia Pacific
30%
27%
43%
27%
29%
44%
27%
27%
46%
27%
28%
45%
30%
22%
48%
24%
23%
53%
26%
24%
50%
26%
23%
51%
$352
$111
$482
$945
$380
$139
$390
$909
$274
$93
$429
$796
$206
$110
$261
$577
$201
$120
$266
$587
$217
$135
$270
$622
$188
$165
$292
$645
$241
$159
$285
$685
Total Revenue
Inventory Breakdow n
Raw Materials
WIP
Finished Goods
Drive Units by Market Category (000's)
Enterprise Storage
5,200
Desktop Storage
25,380
Mobile
6,880
Consumer Electronics
5,650
5,210
28,160
9,810
4,820
4,280
20,950
7,580
3,930
3,400
22,210
8,920
3,910
3,630
21,900
11,330
3,770
3,980
23,270
13,850
5,170
4,630
25,050
14,780
5,440
5,100
24,510
13,740
6,900
43,110
48,000
36,740
38,440
40,630
46,270
49,900
50,250
Cash Flow Related Items
Capital Additions
Depreciation/Amortization
Inventory Turns
Days Sales Outstanding
World-Wide Employees
$293
$213
9.3
44
54,036
Supplemental Financial Information
Fiscal Q3 2010 (quarter ended April 2, 2010)
$280
$253
11.0
42
53,784
$214
$228
9.8
42
51,925
$59
$226
13.8
37
44,774
$80
$224
13.3
40
47,343
$89
$204
12.9
42
49,017
Page 5
$103
$192
13.0
40
51,279
$180
$188
12.5
43
52,129