WESTERN DIGITAL CORPORATION (WDC) FY2024 Annual Statement of Cash Flows
2023-07-01 to 2024-06-28
Statement of Cash Flows
2023-07-01 to 2024-06-28
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WESTERN DIGITAL CORPORATION cash flow reconciliation, Jul 1, 2023 through Jun 28, 2024
Cash flows for Jul 1, 2023 through Jun 28, 2024. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Jun 30, 2023. Ending cash: Jun 28, 2024. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.
- Beginning cash on Jun 30, 2023
- 2,023,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
- Operating activities
- negative 294,000,000 US dollars. Net cash used.
- Net income (loss)
- negative 798,000,000 US dollars
- Stock-based compensation
- 295,000,000 US dollars
- Amortization of debt issuance costs and discounts
- 19,000,000 US dollars
- Accounts receivable, net
- negative 568,000,000 US dollars
- Depreciation and amortization
- 568,000,000 US dollars
- Other assets and liabilities, net
- negative 342,000,000 US dollars
- Accounts payable
- 244,000,000 US dollars
- Gain on disposal of assets
- negative 87,000,000 US dollars
- Accrued expenses
- 197,000,000 US dollars
- Deferred income taxes
- negative 161,000,000 US dollars
- Inventories
- 356,000,000 US dollars
- Other non-cash operating activities, net
- 19,000,000 US dollars
- Accounts payable to related parties
- 21,000,000 US dollars
- Gain on business divestiture
- 0 US dollars
- Accrued compensation
- 259,000,000 US dollars
- Income taxes payable
- negative 474,000,000 US dollars
- Non-cash asset impairment
- 158,000,000 US dollars
- Investing activities
- negative 27,000,000 US dollars. Net cash used.
- Strategic investments and other, net
- 26,000,000 US dollars
- Notes receivable proceeds from Flash Ventures
- 482,000,000 US dollars
- Proceeds from dispositions of business
- 0 US dollars
- Notes receivable issuances to Flash Ventures
- negative 243,000,000 US dollars
- Proceeds from the sale of property, plant and equipment
- 195,000,000 US dollars
- Purchases of property, plant and equipment
- negative 487,000,000 US dollars
- Financing activities
- 187,000,000 US dollars. Net cash provided.
- Proceeds from debt issuance
- 3,000,000,000 US dollars
- Repayment of debt
- negative 2,104,000,000 US dollars
- Issuance of stock under employee stock plans
- 80,000,000 US dollars
- Debt issuance costs
- negative 36,000,000 US dollars
- Taxes paid on vested stock awards under employee stock plans
- negative 88,000,000 US dollars
- Proceeds from convertible preferred stock, net of issuance costs
- negative 5,000,000 US dollars
- Purchase of capped calls
- negative 155,000,000 US dollars
- Repurchases of debt
- negative 505,000,000 US dollars
- Operating adjustment reconciliation
- 2,430,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
- financing gross reconciliation
- 3,080,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
- investing gross reconciliation
- 730,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
- Exchange-rate effect
- negative 10,000,000 US dollars
- Ending cash on Jun 28, 2024
- 1,879,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
- Cash sources and uses
- 2,210,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
- Net cash change
- negative 144,000,000 US dollars. Ending cash minus beginning cash.
- Cash flow / Net income
- Not meaningful. Operating cash flow divided by reconciliation net income for the same period. The ratio is not meaningful when net income is zero or negative.
- Operating cash flow
- negative 294,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
- Cash purchases of property, plant and equipment
- 487,000,000 US dollars. These cash purchases are already included in investing activities above.
- Free cash flow
- negative 781,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.
Chart connections
- Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
- Financing contributions meet at a reconciliation junction before connecting to the net cash total.
- Investing contributions meet at a reconciliation junction before connecting to the net cash total.
- Operating reconciliation adjustments are not all independent cash receipts.
- Net loss −$798.00M + net operating adjustments $504.00M = operating cash −$294.00M. The loss reduces the earnings basis of the reconciliation; it is not a cash payment. The signed loss remains a deduction at the operating reconciliation junction.
- Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
- The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
- Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: negative 294,000,000 US dollars minus 487,000,000 US dollars equals negative 781,000,000 US dollars.
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