STX · 10-K · 2026A · Full report
Liquidity and Debt Position
Seagate Technology Holdings plc · 2026-08-04 · Importance 64 · Surprise 42 · In source text
Cash and cash equivalents totaled $1.704 billion as of July 3, 2026, while the company had $1.3 billion available under its senior unsecured revolving credit facility. Outstanding long-term debt had $3.6 billion of future principal payments and approximately $1.3 billion of future interest payments. The company reduced outstanding debt by $1.4 billion during fiscal 2026 through 2028 Notes exchanges and Senior Note repurchases, and it reported compliance with all debt covenants.
Key facts
- We reduced our outstanding debt by $1.4 billion through exchanges of our 2028 Notes for total consideration of $1.3 billion cash and approximately 12.6 million of our ordinary shares as well as repurchases of Senior Notes. source
- Our primary sources of liquidity as of July 3, 2026 consist of approximately $1.7 billion in cash and cash equivalents, cash we expect to generate from operations, and $1.3 billion available for borrowing under our senior unsecured revolving credit facility. source
- As of July 3, 2026, the future principal payment obligation on our long-term debt was $3.6 billion, which will mature in more than one year. source
- As of July 3, 2026, future interest payments on outstanding debt are estimated to be approximately $1.3 billion, of which $243 million is expected to be paid within one year. source
- Subsequent to the Consolidated Balance Sheet date, on July 15, 2026, we redeemed $1 billion principal amount of certain Senior Notes. source
- On June 11, 2026, we issued a Notice of Full Provisional Redemption to holders of the 2028 Notes for the remaining principal amount of $185 million. source
- Net cash used in financing activities of $2.3 billion for fiscal year 2026 was primarily attributable to $1.4 billion redemption and repurchase of long-term debt. source
- Cash and cash equivalents were $1,704 million as of July 3, 2026. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| liability | negative | committed | -30.7% | As of July 3, 2026, the future principal payment obligation on our long-term debt was $3.6 billion, which will mature in more than one year. |
| cash | negative | realized | -23.4% | Net cash used in financing activities was $(2,337) million in fiscal year 2026 and $(1,274) million in fiscal year 2025. |
| cash | negative | realized | -23.1% | Net cash used in financing activities of $2.3 billion for fiscal year 2026 was primarily attributable to $1.4 billion redemption and… |
| liability | positive | realized | +14.0% | We reduced our outstanding debt by $1.4 billion through exchanges of our 2028 Notes for total consideration of $1.3 billion cash and… |
| liability | negative | committed | -11.1% | As of July 3, 2026, future interest payments on outstanding debt are estimated to be approximately $1.3 billion, of which $243 million is… |
| liability | positive | committed | +8.5% | Subsequent to the Consolidated Balance Sheet date, on July 15, 2026, we redeemed $1 billion principal amount of certain Senior Notes. |
| cash | negative | committed | -8.5% | Subsequent to the Consolidated Balance Sheet date, on July 15, 2026, we redeemed $1 billion principal amount of certain Senior Notes. |
| liability | positive | committed | +1.6% | On June 11, 2026, we issued a Notice of Full Provisional Redemption to holders of the 2028 Notes for the remaining principal amount of… |
| cash | negative | committed | -1.6% | On June 11, 2026, we issued a Notice of Full Provisional Redemption to holders of the 2028 Notes for the remaining principal amount of… |