XML 33 R24.htm IDEA: XBRL DOCUMENT
v3.23.4

Debt (Tables) | 6 Months Ended
--- | ---
Dec. 29, 2023
Debt Disclosure [Abstract] |
Schedule of Debt | The following table provides details of the Company’s debt as of December 29, 2023 and June 30, 2023:
(Dollars in millions) |  | December 29, 2023 |  | June 30, 2023
Unsecured Senior Notes(1) |  |  |  |
$1,000 issued on May 28, 2014 at 4.75% due January 1, 2025 (the “2025 Notes”), interest payable semi-annually on January 1 and July 1 of each year. |  | $ | 479 |  |  | $ | 479 |
$700 issued on May 14, 2015 at 4.875% due June 1, 2027 (the “2027 Notes”), interest payable semi-annually on June 1 and December 1 of each year. |  | 504 |  |  | 504 |
$500 issued on June 18, 2020 at 4.091% due June 1, 2029 (the “June 2029 Notes”), interest payable semi-annually on June 1 and December 1 of each year. |  | 469 |  |  | 465 |
$500 issued on December 8, 2020 at 3.125% due July 15, 2029 (the “July 2029 Notes”), interest payable semi-annually on January 15 and July 15 of each year. |  | 163 |  |  | 163 |
$500 issued on May 30, 2023 at 8.25% due December 15, 2029 (the “December 2029 Notes”), interest payable semi-annually on June 15 and December 15 of each year. |  | 500 |  |  | 500 |
$500 issued on June 10, 2020 at 4.125% due January 15, 2031 (the “January 2031 Notes”), interest payable semi-annually on January 15 and July 15 of each year. |  | 275 |  |  | 275 |
$500 issued on December 8, 2020 at 3.375% due July 15, 2031 (the “July 2031 Notes”), interest payable semi-annually on January 15 and July 15 of each year. |  | 72 |  |  | 72 |
$500 issued on May 30, 2023 at 8.50% due July 15, 2031 (the “8.50% July 2031 Notes”), interest payable semi-annually on January 15 and July 15 of each year. |  | 500 |  |  | 500 |
$750 issued on November 30, 2022 at 9.625% due December 1, 2032 (the “2032 Notes”), interest payable semi-annually on June 1 and December 1 of each year. |  | 750 |  |  | 750 |
$500 issued on December 2, 2014 at 5.75% due December 1, 2034 (the “2034 Notes”), interest payable semi-annually on June 1 and December 1 of each year. |  | 489 |  |  | 489 |
Exchangeable Senior Notes(1) |  |  |  |
$1,500 issued on September 13, 2023 at 3.50% due June 1, 2028 (the “2028 Notes”), interest payable semi-annually on March 1 and September 1 of each year. |  | 1,500 |  |  | — |
Term Loans |  |  |  |
$600 borrowed on October 14, 2021 at SOFR plus a variable margin ranging from 1.125% to 2.375%, (the “Term Loan A1”), repayable in quarterly installments beginning on December 31, 2022, with a final maturity date of September 16, 2025. |  | — |  |  | 430 |
$600 borrowed on October 14, 2021 at SOFR plus a variable margin ranging from 1.25% to 2.5%, (the “Term Loan A2”), repayable in quarterly installments beginning on December 31, 2022, with a final maturity date of July 30, 2027. |  | — |  |  | 430 |
$600 borrowed on August 18, 2022 at SOFR plus a variable margin ranging from 1.25% to 2.5%, (the “Term Loan A3”), repayable in quarterly installments beginning on December 31, 2022, with a final maturity date of July 30, 2027. |  | — |  |  | 430 |
|  | 5,701 |  |  | 5,487 |
Less: unamortized debt issuance costs |  | (32) |  |  | (36) |
Debt, net of debt issuance costs |  | 5,669 |  |  | 5,451 |
Less: current portion of long-term debt |  | — |  |  | (63) |
Long-term debt, less current portion |  | $ | 5,669 |  |  | $ | 5,388 |
_____________________________ (1) All unsecured senior notes and exchangeable senior notes are issued by Seagate HDD Cayman (“Seagate HDD”), and the obligations under these notes are fully and unconditionally guaranteed, on a senior unsecured basis, by Seagate Technology Unlimited Company (“STUC”) and STX.
Future principal payments on long-term debt | At December 29, 2023, future principal payments on long-term debt were as follows (in millions):
Fiscal Year |  | Principal Amount
Remainder of 2024 |  | $ | — |
2025 |  | 479 |
2026 |  | — |
2027 |  | 505 |
2028 |  | 1,500 |
Thereafter |  | 3,245 |
Total |  | $ | 5,729 |

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of maturity and sinking fund requirement for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 470 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481544/470-10-50-1 + Details
Name: | us-gaap_ScheduleOfMaturitiesOfLongTermDebtTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration