We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Symantec Corporation | NASDAQ:SYMC | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 23.75 | 23.03 | 23.97 | 0 | 01:00:00 |
|
þ
|
ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
o
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Delaware
|
|
77-0181864
|
(State or other jurisdiction of
incorporation or organization) |
|
(I.R.S. employer
Identification no.) |
|
|
|
350 Ellis Street,
|
|
|
Mountain View, California
|
|
94043
|
(Address of principal executive offices)
|
|
(zip code)
|
|
Common Stock, par value $0.01 per share
(Title of each class)
|
|
The NASDAQ Stock Market LLC
(Name of each exchange on which registered)
|
Large accelerated filer
þ
|
|
Accelerated filer
o
|
|
Non-accelerated filer
o
|
|
Smaller reporting company
o
|
|
|
(Do not check if a smaller reporting company)
|
|
Page
|
||
PART I
|
||
Item 1.
|
||
Item 1A.
|
||
Item 1B.
|
||
Item 2.
|
||
Item 3.
|
||
Item 4.
|
||
PART II
|
||
Item 5.
|
||
Item 6.
|
||
Item 7.
|
||
Item 7A.
|
||
Item 8.
|
||
Item 9.
|
||
Item 9A.
|
||
Item 9B.
|
||
PART III
|
||
Item 10.
|
||
Item 11.
|
||
Item 12.
|
||
Item 13.
|
||
Item 14.
|
||
PART IV
|
||
Item 15.
|
||
•
|
We completed the divestiture of Veritas and refocused Symantec as a pure cybersecurity company.
|
•
|
We launched our SecureOne channel partner program designed specifically to help security-focused partners grow their businesses.
|
•
|
In Enterprise Security, Symantec Endpoint Protection won AV-TEST’s “Best Protection 2015 Award” for corporate users.
|
•
|
In Consumer Security, Norton Security won AV-TEST’s coveted “Best Protection Award 2015” for “home user” security.
|
•
|
We released new products and services:
|
◦
|
We launched Advanced Threat Protection endpoint, email, and network solutions, which detect and remediate advanced threats across control points, from a single console with just a click, without deployment of new endpoint agents.
|
◦
|
We launched Encryption Everywhere, a website security package available through web hosting providers that integrates encryption into websites from the moment they are created.
|
•
|
We completed a $500 million strategic investment by Silver Lake Partners and in connection with this investment, Kenneth Hao joined our Board of Directors.
|
•
|
We increased our capital return program to $5.5 billion, including a $2.6 billion special dividend that was paid in March 2016 and a total of $1.5 billion in accelerated share repurchase ("ASR") transactions that were announced in November 2015 and March 2016.
|
•
|
Managing the length of the development cycle for new products and product enhancements, which has frequently been longer than we originally expected;
|
•
|
Adapting to emerging and evolving industry standards and to technological developments by our competitors and customers;
|
•
|
Extending the operation of our products and services to new and evolving platforms, operating systems and hardware products, such as mobile devices;
|
•
|
Entering into new or unproven markets with which we have limited experience;
|
•
|
Managing new product and service strategies for the markets in which we operate;
|
•
|
Addressing trade compliance issues affecting our ability to ship our products;
|
•
|
Developing or expanding efficient sales channels; and
|
•
|
Obtaining sufficient licenses to technology and technical access from operating system software vendors on reasonable terms to enable the development and deployment of interoperable products, including source code
|
•
|
Reduced demand for any of our products and services;
|
•
|
Entry of new competition into our markets;
|
•
|
Competitive pricing pressure for one or more of our classes of products;
|
•
|
Our ability to timely complete the release of new or enhanced versions of our products;
|
•
|
How well we execute our strategy and operating plans and the impact of changes in our business model that could result in significant restructuring charges;
|
•
|
Fluctuations in foreign currency exchange rates;
|
•
|
The number, severity, and timing of threat outbreaks (e.g. worms, viruses, malware, ransomeware and other malicious threats);
|
•
|
Our resellers making a substantial portion of their purchases near the end of each quarter;
|
•
|
Enterprise customers’ tendency to negotiate site licenses near the end of each quarter;
|
•
|
Cancellation, deferral, or limitation of orders by customers;
|
•
|
Changes in the mix or type of products sold;
|
•
|
Movements in interest rates;
|
•
|
The rate of adoption of new product technologies and new releases of operating systems;
|
•
|
Changes in accounting rules;
|
•
|
Weakness or uncertainty in general economic or industry conditions in any of the multiple markets in which we operate that could reduce customer demand and ability to pay for our products and services;
|
•
|
Political and military instability, which could slow spending within our target markets, delay sales cycles, and otherwise adversely affect our ability to generate revenues and operate effectively;
|
•
|
Budgetary constraints of customers, which are influenced by corporate earnings and government budget cycles and spending objectives;
|
•
|
Disruptions in our business operations or target markets caused by, among other things, earthquakes, floods, or other natural disasters affecting our headquarters located in Silicon Valley, California, an area known for seismic activity, or our other locations worldwide;
|
•
|
Acts of war or terrorism;
|
•
|
Intentional disruptions by third parties; and
|
•
|
Health or similar issues, such as a pandemic.
|
•
|
Continuing to innovate and bring to market compelling cloud-based experiences that generate increasing traffic and market share; and
|
•
|
Ensuring that our SaaS offerings meet the reliability expectations of our customers and maintain the security of their data.
|
•
|
Longer sales cycles associated with direct sales efforts;
|
•
|
Difficulty in hiring, retaining, and motivating our direct sales force, particularly through periods of transition in our organization; and
|
•
|
Substantial amounts of training for sales representatives to become productive in selling our products and services, including regular updates to cover new and revised products, and associated delays and difficulties in recognizing the expected benefits of investments in new products and updates.
|
•
|
Our lack of control over the timing of delivery of our products to end-users;
|
•
|
Our resellers and distributors are generally not subject to minimum sales requirements or any obligation to market our products to their customers;
|
•
|
Our reseller and distributor agreements are generally nonexclusive and may be terminated at any time without cause;
|
•
|
Our resellers and distributors frequently market and distribute competing products and may, from time to time, place greater emphasis on the sale of these products due to pricing, promotions, and other terms offered by our competitors; and
|
•
|
The consolidation of electronics retailers has increased their negotiating power with respect to hardware and software providers such as us.
|
•
|
Our lack of control over the volume of systems shipped and the timing of such shipments;
|
•
|
Our OEM partners are generally not subject to minimum sales requirements or any obligation to market our products to their customers;
|
•
|
Our OEM partners may terminate or renegotiate their arrangements with us and new terms may be less favorable due to competitive conditions in our markets and other factors;
|
•
|
Sales through our OEM partners are subject to changes in general economic conditions, strategic direction, competitive risks, and other issues that could result in a reduction of OEM sales;
|
•
|
The development work that we must generally undertake under our agreements with our OEM partners may require us to invest significant resources and incur significant costs with little or no assurance of ever receiving associated revenues;
|
•
|
The time and expense required for the sales and marketing organizations of our OEM partners to become familiar with our products may make it more difficult to introduce those products to the market; and
|
•
|
Our OEM partners may develop, market, and distribute their own products and market and distribute products of our competitors, which could reduce our sales.
|
•
|
Complexity, time, and costs associated with the integration of acquired business operations, workforce, products, and technologies;
|
•
|
Diversion of management time and attention;
|
•
|
Loss or termination of employees, including costs associated with the termination or replacement of those employees;
|
•
|
Assumption of liabilities of the acquired business, including litigation related to the acquired business;
|
•
|
The addition of acquisition-related debt as well as increased expenses and working capital requirements;
|
•
|
Dilution of stock ownership of existing stockholders; and
|
•
|
Substantial accounting charges for restructuring and related expenses, write-off of in-process research and development, impairment of goodwill, amortization of intangible assets, and stock-based compensation expense.
|
•
|
Potential loss of proprietary information due to misappropriation or laws that may be less protective of our intellectual property rights than U.S. laws or that may not be adequately enforced;
|
•
|
Requirements of foreign laws and other governmental controls, including trade and labor restrictions and related laws that reduce the flexibility of our business operations;
|
•
|
Regulations or restrictions on the use, import, or export of encryption technologies that could delay or prevent the acceptance and use of encryption products and public networks for secure communications;
|
•
|
Local business and cultural factors that differ from our normal standards and practices, including business practices that we are prohibited from engaging in by the Foreign Corrupt Practices Act and other anti-corruption laws and regulations;
|
•
|
Central bank and other restrictions on our ability to repatriate cash from our international subsidiaries or to exchange cash in international subsidiaries into cash available for use in the U.S.;
|
•
|
Fluctuations in currency exchange rates, economic instability and inflationary conditions could reduce our customers’ ability to obtain financing for software products or could make our products more expensive or could increase our costs of doing business in certain countries;
|
•
|
Limitations on future growth or inability to maintain current levels of revenues from international sales if we do not invest sufficiently in our international operations;
|
•
|
Longer payment cycles for sales in foreign countries and difficulties in collecting accounts receivable;
|
•
|
Difficulties in staffing, managing, and operating our international operations, including difficulties related to administering our stock plans in some foreign countries;
|
•
|
Difficulties in coordinating the activities of our geographically dispersed and culturally diverse operations;
|
•
|
Seasonal reductions in business activity in the summer months in Europe and in other periods in other countries;
|
•
|
Costs and delays associated with developing software and providing support in multiple languages; and
|
•
|
Political unrest, war, or terrorism, or regional natural disasters, particularly in areas in which we have facilities.
|
•
|
Amortization of intangible assets;
|
•
|
Depreciation of property, plant and equipment;
|
•
|
Impairment of goodwill and other long-lived assets;
|
•
|
Stock-based compensation expense;
|
•
|
Restructuring charges; and
|
•
|
Loss on sale of a business and similar write-downs of assets held for sale.
|
•
|
Changes in the relative proportions of revenues and income before taxes in the various jurisdictions in which we operate that have differing statutory tax rates;
|
•
|
Changing tax laws, regulations, and interpretations in multiple jurisdictions in which we operate, including possible corporate tax reform in the U.S., actions resulting from the Organisation for Economic Cooperation and Development’s base erosion and profit shifting project, proposed actions by international bodies, as well as the requirements of certain tax rulings;
|
•
|
The tax effects of purchase accounting for acquisitions and restructuring charges that may cause fluctuations between reporting periods;
|
•
|
Tax assessments, or any related tax interest or penalties that could significantly affect our income tax expense for the period in which the settlements take place; and
|
•
|
Taxes arising in connection with the recent divestiture of Veritas.
|
•
|
Announcements of quarterly operating results and revenue and earnings forecasts by us that fail to meet or be consistent with our earlier projections or the expectations of our investors or securities analysts;
|
•
|
Announcements by either our competitors or customers that fail to meet or be consistent with their earlier projections or the expectations of our investors or securities analysts;
|
▪
|
Rumors, announcements or press articles regarding our or our competitors’ operations, management, organization, financial condition, or financial statements;
|
▪
|
Changes in revenue and earnings estimates by us, our investors or securities analysts;
|
▪
|
Accounting charges, including charges relating to the impairment of goodwill;
|
▪
|
Announcements of planned acquisitions or dispositions by us or by our competitors;
|
▪
|
Announcements of new or planned products by us, our competitors, or our customers;
|
▪
|
Gain or loss of a significant customer, partner, reseller or distributor;
|
▪
|
Inquiries by the SEC, NASDAQ, law enforcement, or other regulatory bodies;
|
▪
|
Acts of terrorism, the threat of war, and other crises or emergency situations; and
|
▪
|
Economic slowdowns or the perception of an oncoming economic slowdown in any of the major markets in which we operate.
|
|
Approximate Total Square
Footage
(1)
|
||||
|
Owned
|
|
Leased
|
||
|
(In thousands)
|
||||
Americas (U.S., Canada and Latin America)
|
1,512
|
|
|
539
|
|
EMEA (Europe, Middle East and Africa)
|
177
|
|
|
318
|
|
APJ (Asia Pacific and Japan)
|
—
|
|
|
1,044
|
|
Total
|
1,689
|
|
|
1,901
|
|
|
(1)
|
Included in the total square footage above are vacant and available-for-lease properties totaling approximately 80,000 square feet. Total square footage excludes approximately 766,000 square feet relating to facilities subleased to third parties.
|
|
2016
|
|
2015
|
||||||||||||||||||||||||||||
|
Fourth
Quarter
|
|
Third
Quarter
|
|
Second
Quarter
|
|
First
Quarter
|
|
Fourth
Quarter |
|
Third
Quarter |
|
Second
Quarter |
|
First
Quarter |
||||||||||||||||
High
|
$
|
20.88
|
|
|
$
|
21.37
|
|
|
$
|
23.47
|
|
|
$
|
25.90
|
|
|
$
|
26.69
|
|
|
$
|
26.58
|
|
|
$
|
24.77
|
|
|
$
|
23.04
|
|
Low
|
$
|
16.62
|
|
|
$
|
19.50
|
|
|
$
|
19.33
|
|
|
$
|
23.03
|
|
|
$
|
23.28
|
|
|
$
|
21.94
|
|
|
$
|
22.42
|
|
|
$
|
19.97
|
|
|
2011
|
|
2012
|
|
2013
|
|
2014
|
|
2015
|
|
2016
|
||||||||||||
Symantec Corporation
|
$
|
100.00
|
|
|
$
|
101.30
|
|
|
$
|
133.69
|
|
|
$
|
110.03
|
|
|
$
|
134.25
|
|
|
$
|
134.02
|
|
S&P 500
|
$
|
100.00
|
|
|
$
|
108.00
|
|
|
$
|
123.08
|
|
|
$
|
148.80
|
|
|
$
|
169.03
|
|
|
$
|
173.18
|
|
S&P Information Technology
|
$
|
100.00
|
|
|
$
|
120.31
|
|
|
$
|
118.96
|
|
|
$
|
148.18
|
|
|
$
|
175.60
|
|
|
$
|
192.33
|
|
Summary of operations:
|
|
Year Ended
(1)
|
||||||||||||||||||
|
|
April 1, 2016
|
|
April 3, 2015
|
|
March 28, 2014
|
|
March 29, 2013
|
|
March 30, 2012
|
||||||||||
|
|
(In millions, except per share data)
|
||||||||||||||||||
Net revenues
|
|
$
|
3,600
|
|
|
$
|
3,956
|
|
|
$
|
4,183
|
|
|
$
|
4,268
|
|
|
$
|
4,175
|
|
Operating income (loss)
|
|
457
|
|
|
154
|
|
|
144
|
|
|
(60
|
)
|
|
(50
|
)
|
|||||
Income (loss) from continuing operations
(2)
|
|
(821
|
)
|
|
109
|
|
|
91
|
|
|
(138
|
)
|
|
123
|
|
|||||
Income from discontinued operations, net of income taxes
(3)
|
|
3,309
|
|
|
769
|
|
|
807
|
|
|
893
|
|
|
1,064
|
|
|||||
Net income
(4)
|
|
2,488
|
|
|
878
|
|
|
898
|
|
|
755
|
|
|
1,187
|
|
|||||
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Income (loss) per share - basic:
(5)
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Continuing operations
|
|
$
|
(1.23
|
)
|
|
$
|
0.16
|
|
|
$
|
0.13
|
|
|
$
|
(0.20
|
)
|
|
$
|
0.17
|
|
Discontinued operations
|
|
$
|
4.94
|
|
|
$
|
1.12
|
|
|
$
|
1.16
|
|
|
$
|
1.27
|
|
|
$
|
1.44
|
|
Net income per share - basic
|
|
$
|
3.71
|
|
|
$
|
1.27
|
|
|
$
|
1.29
|
|
|
$
|
1.08
|
|
|
$
|
1.60
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Income (loss) per share - diluted:
(5)
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Continuing operations
|
|
$
|
(1.23
|
)
|
|
$
|
0.16
|
|
|
$
|
0.13
|
|
|
$
|
(0.20
|
)
|
|
$
|
0.16
|
|
Discontinued operations
|
|
$
|
4.94
|
|
|
$
|
1.10
|
|
|
$
|
1.15
|
|
|
$
|
1.27
|
|
|
$
|
1.42
|
|
Net income per share - diluted
|
|
$
|
3.71
|
|
|
$
|
1.26
|
|
|
$
|
1.28
|
|
|
$
|
1.08
|
|
|
$
|
1.59
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Weighted-average shares outstanding:
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Basic
|
|
670
|
|
|
689
|
|
|
696
|
|
|
701
|
|
|
741
|
|
|||||
Diluted
|
|
670
|
|
|
696
|
|
|
704
|
|
|
701
|
|
|
748
|
|
|||||
Cash dividends declared per common share
|
|
$
|
4.60
|
|
|
$
|
0.60
|
|
|
$
|
0.60
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Consolidated Balance Sheets Data:
|
|
|
||||||||||||||||||
|
|
April 1, 2016
|
|
April 3, 2015
|
|
March 28, 2014
|
|
March 29, 2013
|
|
March 30, 2012
|
||||||||||
|
|
(In millions)
|
||||||||||||||||||
Total assets
|
|
$
|
11,767
|
|
|
$
|
13,233
|
|
|
$
|
13,539
|
|
|
$
|
14,508
|
|
|
$
|
13,158
|
|
Long-term obligations
(6) (7)
|
|
2,207
|
|
|
1,746
|
|
|
2,095
|
|
|
2,094
|
|
|
2,039
|
|
|||||
Total stockholders’ equity
(8)
|
|
3,676
|
|
|
5,935
|
|
|
5,797
|
|
|
5,476
|
|
|
5,237
|
|
|
(1)
|
We have a 52/53-week fiscal year. Our fiscal 2015 was a 53-week year whereas fiscal 2016, 2014, 2013, and 2012, each consisted of 52 weeks.
|
(2)
|
In fiscal 2016, the Company recorded $1.1 billion in income tax expense related to unremitted earnings of foreign subsidiaries from the proceeds of the sale of Veritas. This charge is presented in loss from continuing operations in the Consolidated Statements of Operations for fiscal 2016. See
Note 11
of the Notes to Consolidated Financial Statements in this annual report for more information.
|
(3)
|
In fiscal 2016, the Company sold the assets of Veritas to Carlyle for a net gain of $3.0 billion, which is presented as part of income from discontinued operations, net of income taxes in the Consolidated Statements of Operations for fiscal 2016.
|
(4)
|
In fiscal 2012, we sold our ownership interest in a joint venture for $530 million in cash. The net gain of $526 million, offset by costs to sell the joint venture of $4 million, was included in gain from sale of joint venture in our fiscal 2012 Consolidated Statements of Operations.
|
(5)
|
Net income per share amounts may not add due to rounding.
|
(6)
|
On June 15, 2013, the principal balance on the Company's 1.00% Convertible Senior Notes matured and was settled by a cash payment of $1 billion. At the time of issuance of the 1.00% notes, we granted warrants to affiliates of certain initial purchasers of the notes whereby they had the option to purchase up to 52.7 million shares of our common stock. All the warrants expired unexercised during the second quarter of fiscal 2014. In the fourth quarter of fiscal 2016, we issued
$500 million
in principal amount of
2.50%
Convertible Senior Notes, due in
April of 2021
. See
Note 5
of the Notes to Consolidated Financial Statements in this annual report for more information on the Company's long-term obligations.
|
(7)
|
During the second quarter of fiscal 2016, the principal balance on the Company's 2.75% Senior Notes due September 15, 2015, matured and was settled by a cash payment of $350 million. See
Note 5
of the Notes to Consolidated Financial Statements in this annual report for more information.
|
(8)
|
Includes noncontrolling interest in subsidiary of $78 million in fiscal 2012.
|
•
|
Consumer Securit
y:
Our Consumer Security segment focuses on making it simple for customers to be productive and protected at home and at work. Our Norton-branded services provide multi-layer security and identity protection on major desktop and mobile operating systems, to defend against increasingly complex online threats to individuals, families, and small businesses.
|
•
|
Enterprise Security
:
Our Enterprise Security segment protects organizations so they can securely conduct business while leveraging new platforms and data. Our Enterprise Security segment includes our threat protection products, information protection products, cyber security services, and website security offerings, previously named trust services.
|
|
2016
|
|
2015
|
|
2014
|
||||||
|
(In millions, except percentages)
|
||||||||||
Consolidated Statements of Operations Data:
|
|
|
|
|
|
||||||
Net revenues
|
$
|
3,600
|
|
|
$
|
3,956
|
|
|
$
|
4,183
|
|
Gross profit
|
2,985
|
|
|
3,229
|
|
|
3,392
|
|
|||
Operating income
|
457
|
|
|
154
|
|
|
144
|
|
|||
Operating margin percentage
|
13
|
%
|
|
4
|
%
|
|
3
|
%
|
|||
Consolidated Cash Flow Data:
|
|
|
|
|
|
||||||
Net cash provided by continuing operating activities
|
$
|
1,456
|
|
|
$
|
17
|
|
|
$
|
108
|
|
|
2016
|
|
2015
|
|
2014
|
|||
Net revenues
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
Cost of revenues
|
17
|
%
|
|
18
|
%
|
|
19
|
%
|
Gross profit
|
83
|
%
|
|
82
|
%
|
|
81
|
%
|
Operating expenses:
|
|
|
|
|
|
|||
Sales and marketing
|
36
|
%
|
|
42
|
%
|
|
42
|
%
|
Research and development
|
21
|
%
|
|
21
|
%
|
|
17
|
%
|
General and administrative
|
8
|
%
|
|
9
|
%
|
|
10
|
%
|
Amortization of intangible assets
|
2
|
%
|
|
2
|
%
|
|
2
|
%
|
Restructuring, separation, and transition
|
4
|
%
|
|
4
|
%
|
|
6
|
%
|
Total operating expenses
|
70
|
%
|
|
78
|
%
|
|
78
|
%
|
Operating income
|
13
|
%
|
|
4
|
%
|
|
3
|
%
|
Non-operating expense, net
|
2
|
%
|
|
1
|
%
|
|
1
|
%
|
|
|
|
|
|
|
|
|
Change in %
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
|
2016 v 2015
|
|
2015 v 2014
|
||||||||
|
(Dollars in millions)
|
|
|
|
|
||||||||||||
Net revenues
|
$
|
3,600
|
|
|
$
|
3,956
|
|
|
$
|
4,183
|
|
|
(9)
|
%
|
|
(5)
|
%
|
|
|
|
|
|
|
|
Change in %
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
|
2016 v 2015
|
|
2015 v 2014
|
||||||||
|
(Dollars in millions)
|
|
|
|
|
||||||||||||
Net revenues:
|
|
|
|
|
|
|
|
|
|
||||||||
Consumer Security
|
$
|
1,670
|
|
|
$
|
1,887
|
|
|
$
|
2,063
|
|
|
(11)
|
%
|
|
(9)
|
%
|
Enterprise Security
|
1,930
|
|
|
2,069
|
|
|
2,135
|
|
|
(7)
|
%
|
|
(3)
|
%
|
|||
Percentage of total net revenues:
|
|
|
|
|
|
|
|
|
|
||||||||
Consumer Security
|
46
|
%
|
|
48
|
%
|
|
49
|
%
|
|
|
|
|
|||||
Enterprise Security
|
54
|
%
|
|
52
|
%
|
|
51
|
%
|
|
|
|
|
|||||
Operating income:
|
|
|
|
|
|
|
|
|
|
||||||||
Consumer Security
|
$
|
924
|
|
|
$
|
982
|
|
|
$
|
928
|
|
|
(6)
|
%
|
|
6
|
%
|
Enterprise Security
|
102
|
|
|
293
|
|
|
349
|
|
|
(65)
|
%
|
|
(16)
|
%
|
|||
Operating margin:
|
|
|
|
|
|
|
|
|
|
||||||||
Consumer Security
|
55
|
%
|
|
52
|
%
|
|
45
|
%
|
|
|
|
|
|||||
Enterprise Security
|
5
|
%
|
|
14
|
%
|
|
16
|
%
|
|
|
|
|
|
|
|
|
|
|
|
Change in %
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
|
2016 v 2015
|
|
2015 v 2014
|
||||||||
|
(Dollars in millions)
|
|
|
|
|
||||||||||||
Revenues by geographic region:
|
|
|
|
|
|
|
|
|
|
||||||||
Americas (U.S., Canada and Latin America)
|
$
|
2,113
|
|
|
$
|
2,214
|
|
|
$
|
2,315
|
|
|
(5)
|
%
|
|
(4)
|
%
|
EMEA (Europe, Middle East and Africa)
|
894
|
|
|
1,065
|
|
|
1,129
|
|
|
(16)
|
%
|
|
(6)
|
%
|
|||
APJ (Asia Pacific and Japan)
|
593
|
|
|
677
|
|
|
739
|
|
|
(12)
|
%
|
|
(8)
|
%
|
|||
Total net revenues
|
$
|
3,600
|
|
|
$
|
3,956
|
|
|
$
|
4,183
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
||||||||
U.S.
|
$
|
1,897
|
|
|
$
|
1,960
|
|
|
$
|
2,049
|
|
|
(3)
|
%
|
|
(4)
|
%
|
International
|
1,703
|
|
|
1,996
|
|
|
2,134
|
|
|
(15)
|
%
|
|
(6)
|
%
|
|||
Total net revenues
|
$
|
3,600
|
|
|
$
|
3,956
|
|
|
$
|
4,183
|
|
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
||||||||
Percentage of total net revenues:
|
|
|
|
|
|
|
|
|
|
||||||||
Americas (U.S., Canada and Latin America)
|
59
|
%
|
|
56
|
%
|
|
55
|
%
|
|
|
|
|
|||||
EMEA (Europe, Middle East and Africa)
|
25
|
%
|
|
27
|
%
|
|
27
|
%
|
|
|
|
|
|||||
APJ (Asia Pacific and Japan)
|
16
|
%
|
|
17
|
%
|
|
18
|
%
|
|
|
|
|
|||||
U.S.
|
53
|
%
|
|
50
|
%
|
|
49
|
%
|
|
|
|
|
|||||
International
|
47
|
%
|
|
50
|
%
|
|
51
|
%
|
|
|
|
|
|
|
|
|
|
|
|
Change in %
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
|
2016 v 2015
|
|
2015 v 2014
|
||||||||
|
(Dollars in millions)
|
|
|
|
|
||||||||||||
Cost of revenues
|
$
|
615
|
|
|
$
|
727
|
|
|
$
|
791
|
|
|
(15)
|
%
|
|
(8)
|
%
|
|
|
|
|
|
|
|
Change in %
|
||||||||||
|
2016
|
|
2015
|
|
2014
|
|
2016 v 2015
|
|
2015 v 2014
|
||||||||
|
(Dollars in millions)
|
|
|
|
|
||||||||||||
Sales and marketing expense
|
$
|
1,292
|
|
|
$
|
1,650
|
|
|
$
|
1,766
|
|
|
(22)
|
%
|
|
(7)
|
%
|
Research and development expense
|
748
|
|
|
812
|
|
|
722
|
|
|
(8)
|
%
|
|
12
|
%
|
|||
General and administrative expense
|
295
|
|
|
362
|
|
|
420
|
|
|
(19)
|
%
|
|
(14)
|
%
|
|||
Amortization of intangible assets
|
57
|
|
|
87
|
|
|
93
|
|
|
(34)
|
%
|
|
(6)
|
%
|
|||
Restructuring, separation, and transition
|
136
|
|
|
164
|
|
|
247
|
|
|
(17)
|
%
|
|
(34)
|
%
|
|||
Total
|
$
|
2,528
|
|
|
$
|
3,075
|
|
|
$
|
3,248
|
|
|
(18)
|
%
|
|
(5)
|
%
|
|
|
|
|
|
|
|
Change in %
|
||||||||||
2016
|
|
2015
|
|
2014
|
|
2016 v 2015
|
|
2015 v 2014
|
|||||||||
|
(Dollars in millions)
|
|
|
|
|
||||||||||||
Interest income
|
$
|
10
|
|
|
$
|
11
|
|
|
$
|
11
|
|
|
(9)
|
%
|
|
—
|
%
|
Interest expense
|
(75
|
)
|
|
(78
|
)
|
|
(84
|
)
|
|
(4)
|
%
|
|
(7)
|
%
|
|||
Other income, net
|
—
|
|
|
14
|
|
|
36
|
|
|
*
|
|
|
*
|
|
|||
Non-operating expense, net
|
$
|
(65
|
)
|
|
$
|
(53
|
)
|
|
$
|
(37
|
)
|
|
23
|
%
|
|
43
|
%
|
|
|
|
|
|
|
|
|
Change in %
|
||||||||||
2016
|
|
2015
|
|
2014
|
|
2016 v 2015
|
|
2015 v 2014
|
|||||||||
|
(Dollars in millions)
|
|
|
|
|
||||||||||||
Income from continuing operations before income taxes
|
$
|
392
|
|
|
$
|
101
|
|
|
$
|
107
|
|
|
288
|
%
|
|
(6)
|
%
|
Provision for (benefit from) income taxes
|
$
|
1,213
|
|
|
$
|
(8
|
)
|
|
$
|
16
|
|
|
*
|
|
|
*
|
|
Effective tax rate on continuing operations income
|
309
|
%
|
|
(8
|
)%
|
|
15
|
%
|
|
|
|
|
|
|
|
|
2016
|
|
2015
|
|
2014
|
||||||
|
(Dollars in millions)
|
||||||||||
Net cash provided by (used in) from continuing operations:
|
|
|
|
|
|
||||||
Operating activities
|
$
|
1,456
|
|
|
$
|
17
|
|
|
$
|
108
|
|
Investing activities
|
7,236
|
|
|
(1,076
|
)
|
|
(517
|
)
|
|||
Financing activities
|
(4,734
|
)
|
|
(800
|
)
|
|
(1,700
|
)
|
|
Payments Due by Fiscal Period
|
||||||||||||||||||
|
Total
|
|
2017
|
|
2018 - 2019
|
|
2020 - 2021
|
|
Thereafter
|
||||||||||
|
(Dollars in millions)
|
||||||||||||||||||
Senior Notes and Convertible Senior Notes
(1)
|
$
|
2,250
|
|
|
$
|
—
|
|
|
$
|
600
|
|
|
$
|
1,250
|
|
|
$
|
400
|
|
Interest payments on Senior Notes and Convertible Senior Notes
(1)
|
321
|
|
|
76
|
|
|
123
|
|
|
103
|
|
|
19
|
|
|||||
Purchase obligations
(2)
|
329
|
|
|
256
|
|
|
71
|
|
|
2
|
|
|
—
|
|
|||||
Operating leases
(3)
|
278
|
|
|
81
|
|
|
115
|
|
|
62
|
|
|
20
|
|
|||||
Total
|
$
|
3,178
|
|
|
$
|
413
|
|
|
$
|
909
|
|
|
$
|
1,417
|
|
|
$
|
439
|
|
|
(1)
|
Interest payments were calculated based on terms of the related Senior Notes and Convertible Senior Notes. For further information on the Senior Notes and Convertible Senior Notes, see
Note 5
of the Notes to Consolidated Financial Statements in this annual report.
|
(2)
|
These amounts are associated with agreements for purchases of goods or services generally including agreements that are enforceable and legally binding and that specify all significant terms, including fixed or minimum quantities to be purchased; fixed, minimum, or variable price provisions; and the approximate timing of the transaction. The table above also includes agreements to purchase goods or services that have cancellation provisions requiring little or no payment. The amounts under such contracts are included in the table above because management believes that cancellation of these contracts is unlikely and we expect to make future cash payments according to the contract terms or in similar amounts for similar materials.
|
(3)
|
We have entered into various non-cancelable operating lease agreements that
expire on various dates through fiscal 2026
. The amounts in the table above exclude expected sublease income and include
$8 million
in exited or excess facility costs related to restructuring activities.
|
|
|
April 1, 2016
|
|
April 3, 2015
|
||||||||||||||||||||
|
|
|
|
Change in Fair Value Due to 10%
|
|
|
|
Change in Fair Value Due to 10%
|
||||||||||||||||
Foreign Exchange Forward Contract
|
|
Notional Amount
|
|
Appreciation
|
|
Depreciation
|
|
Notional Amount
|
|
Appreciation
|
|
Depreciation
|
||||||||||||
|
|
(Dollars in millions)
|
||||||||||||||||||||||
Purchased
|
|
$
|
693
|
|
|
$
|
69
|
|
|
$
|
(69
|
)
|
|
$
|
102
|
|
|
$
|
10
|
|
|
$
|
(10
|
)
|
Sold
|
|
(198
|
)
|
|
(19
|
)
|
|
19
|
|
|
(195
|
)
|
|
(19
|
)
|
|
19
|
|
||||||
Total net outstanding contracts
|
|
$
|
495
|
|
|
$
|
50
|
|
|
$
|
(50
|
)
|
|
$
|
(93
|
)
|
|
$
|
(9
|
)
|
|
$
|
9
|
|
|
Fiscal 2016
|
|
Fiscal 2015
|
||||||||||||||||||||||||||||
|
Fourth Quarter
|
|
Third Quarter
|
|
Second Quarter
|
|
First Quarter
|
|
Fourth Quarter
|
|
Third Quarter
|
|
Second Quarter
|
|
First Quarter
|
||||||||||||||||
|
(In millions, except per share data)
|
||||||||||||||||||||||||||||||
Net revenues
|
$
|
873
|
|
|
$
|
909
|
|
|
$
|
906
|
|
|
$
|
912
|
|
|
$
|
899
|
|
|
$
|
970
|
|
|
$
|
1,001
|
|
|
$
|
1,086
|
|
Gross profit
|
726
|
|
|
759
|
|
|
746
|
|
|
754
|
|
|
723
|
|
|
793
|
|
|
825
|
|
|
888
|
|
||||||||
Operating income
|
128
|
|
|
146
|
|
|
100
|
|
|
83
|
|
|
(49
|
)
|
|
34
|
|
|
96
|
|
|
73
|
|
||||||||
Income (loss) from continuing operations
|
(1,013
|
)
|
|
114
|
|
|
53
|
|
|
25
|
|
|
55
|
|
|
(25
|
)
|
|
32
|
|
|
47
|
|
||||||||
Income from discontinued operations, net of income taxes
|
3,058
|
|
|
56
|
|
|
103
|
|
|
92
|
|
|
121
|
|
|
247
|
|
|
212
|
|
|
189
|
|
||||||||
Net income
|
2,045
|
|
|
170
|
|
|
156
|
|
|
117
|
|
|
176
|
|
|
222
|
|
|
244
|
|
|
236
|
|
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Income (loss) per share - basic:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Continuing operations
|
$
|
(1.56
|
)
|
|
$
|
0.17
|
|
|
$
|
0.08
|
|
|
$
|
0.04
|
|
|
$
|
0.08
|
|
|
$
|
(0.04
|
)
|
|
$
|
0.05
|
|
|
$
|
0.07
|
|
Discontinued operations
|
$
|
4.70
|
|
|
$
|
0.08
|
|
|
$
|
0.15
|
|
|
$
|
0.13
|
|
|
$
|
0.18
|
|
|
$
|
0.36
|
|
|
$
|
0.31
|
|
|
$
|
0.27
|
|
Net income per share - basic
|
$
|
3.15
|
|
|
$
|
0.26
|
|
|
$
|
0.23
|
|
|
$
|
0.17
|
|
|
$
|
0.26
|
|
|
$
|
0.32
|
|
|
$
|
0.35
|
|
|
$
|
0.34
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Income (loss) per share - diluted:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Continuing operations
|
$
|
(1.56
|
)
|
|
$
|
0.17
|
|
|
$
|
0.08
|
|
|
$
|
0.04
|
|
|
$
|
0.08
|
|
|
$
|
(0.04
|
)
|
|
$
|
0.05
|
|
|
$
|
0.07
|
|
Discontinued operations
|
$
|
4.70
|
|
|
$
|
0.08
|
|
|
$
|
0.15
|
|
|
$
|
0.13
|
|
|
$
|
0.17
|
|
|
$
|
0.36
|
|
|
$
|
0.30
|
|
|
$
|
0.27
|
|
Net income per share - diluted
|
$
|
3.15
|
|
|
$
|
0.25
|
|
|
$
|
0.23
|
|
|
$
|
0.17
|
|
|
$
|
0.25
|
|
|
$
|
0.32
|
|
|
$
|
0.35
|
|
|
$
|
0.34
|
|
|
|
|
Page
|
1.
|
Consolidated Financial Statements:
|
|
|
||
|
||
|
||
|
||
|
||
|
||
|
||
|
Financial statement schedules have been omitted since they are either not required, not applicable, or the information is otherwise included.
|
|
2.
|
|
|
April 1, 2016
|
|
April 3, 2015
|
||||
|
(In millions, except par value)
|
||||||
ASSETS
|
|||||||
Current assets:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
5,983
|
|
|
$
|
2,843
|
|
Short-term investments
|
42
|
|
|
1,017
|
|
||
Accounts receivable, net of allowance for doubtful accounts of $16 and $5, respectively
|
556
|
|
|
700
|
|
||
Deferred income taxes
|
—
|
|
|
152
|
|
||
Other current assets
|
378
|
|
|
295
|
|
||
Current assets of discontinued operations
|
—
|
|
|
415
|
|
||
Total current assets
|
6,959
|
|
|
5,422
|
|
||
Property and equipment, net
|
957
|
|
|
950
|
|
||
Intangible assets, net
|
443
|
|
|
525
|
|
||
Goodwill
|
3,148
|
|
|
3,146
|
|
||
Equity investments
|
157
|
|
|
10
|
|
||
Other long-term assets
|
103
|
|
|
70
|
|
||
Long-term assets of discontinued operations
|
—
|
|
|
3,110
|
|
||
Total assets
|
$
|
11,767
|
|
|
$
|
13,233
|
|
|
|
|
|
||||
LIABILITIES AND STOCKHOLDERS’ EQUITY
|
|||||||
Current liabilities:
|
|
|
|
||||
Accounts payable
|
$
|
175
|
|
|
$
|
169
|
|
Accrued compensation and benefits
|
219
|
|
|
232
|
|
||
Deferred revenue
|
2,279
|
|
|
2,427
|
|
||
Current portion of long-term debt
|
—
|
|
|
350
|
|
||
Income taxes payable
|
941
|
|
|
47
|
|
||
Other current liabilities
|
419
|
|
|
292
|
|
||
Current liabilities of discontinued operations
|
—
|
|
|
936
|
|
||
Total current liabilities
|
4,033
|
|
|
4,453
|
|
||
Long-term debt
|
2,207
|
|
|
1,746
|
|
||
Long-term deferred revenue
|
359
|
|
|
444
|
|
||
Long-term deferred tax liabilities
|
1,235
|
|
|
308
|
|
||
Long-term income taxes payable
|
160
|
|
|
134
|
|
||
Other long-term obligations
|
97
|
|
|
79
|
|
||
Long-term liabilities of discontinued operations
|
—
|
|
|
134
|
|
||
Total liabilities
|
8,091
|
|
|
7,298
|
|
||
Commitments and contingencies
|
|
|
|
|
|
||
Stockholders’ equity:
|
|
|
|
||||
Common stock and additional paid-in capital, $0.01 par value, 3,000 shares authorized; 612 and 898 shares issued; 612 and 684 shares outstanding, respectively
|
4,309
|
|
|
6,101
|
|
||
Accumulated other comprehensive income
|
22
|
|
|
104
|
|
||
Accumulated deficit
|
(655
|
)
|
|
(270
|
)
|
||
Total stockholders’ equity
|
3,676
|
|
|
5,935
|
|
||
Total liabilities and stockholders’ equity
|
$
|
11,767
|
|
|
$
|
13,233
|
|
|
|
|
|
|
Year Ended
|
||||||||||
|
April 1, 2016
|
|
April 3, 2015
|
|
March 28, 2014
|
||||||
|
(In millions, except per share data)
|
||||||||||
Net revenues
|
$
|
3,600
|
|
|
$
|
3,956
|
|
|
$
|
4,183
|
|
Cost of revenues
|
615
|
|
|
727
|
|
|
791
|
|
|||
Gross profit
|
2,985
|
|
|
3,229
|
|
|
3,392
|
|
|||
Operating expenses:
|
|
|
|
|
|
||||||
Sales and marketing
|
1,292
|
|
|
1,650
|
|
|
1,766
|
|
|||
Research and development
|
748
|
|
|
812
|
|
|
722
|
|
|||
General and administrative
|
295
|
|
|
362
|
|
|
420
|
|
|||
Amortization of intangible assets
|
57
|
|
|
87
|
|
|
93
|
|
|||
Restructuring, separation, and transition
|
136
|
|
|
164
|
|
|
247
|
|
|||
Total operating expenses
|
2,528
|
|
|
3,075
|
|
|
3,248
|
|
|||
Operating income
|
457
|
|
|
154
|
|
|
144
|
|
|||
Interest income
|
10
|
|
|
11
|
|
|
11
|
|
|||
Interest expense
|
(75
|
)
|
|
(78
|
)
|
|
(84
|
)
|
|||
Other income, net
|
—
|
|
|
14
|
|
|
36
|
|
|||
Income from continuing operations before income taxes
|
392
|
|
|
101
|
|
|
107
|
|
|||
Income tax expense (benefit)
|
1,213
|
|
|
(8
|
)
|
|
16
|
|
|||
Income (loss) from continuing operations
|
(821
|
)
|
|
109
|
|
|
91
|
|
|||
Income from discontinued operations, net of income taxes
|
3,309
|
|
|
769
|
|
|
807
|
|
|||
Net income
|
$
|
2,488
|
|
|
$
|
878
|
|
|
$
|
898
|
|
|
|
|
|
|
|
||||||
Income (loss) per share - basic:
|
|
|
|
|
|
||||||
Continuing operations
|
$
|
(1.23
|
)
|
|
$
|
0.16
|
|
|
$
|
0.13
|
|
Discontinued operations
|
$
|
4.94
|
|
|
$
|
1.12
|
|
|
$
|
1.16
|
|
Net income per share - basic
|
$
|
3.71
|
|
|
$
|
1.27
|
|
|
$
|
1.29
|
|
|
|
|
|
|
|
||||||
Income (loss) per share - diluted:
|
|
|
|
|
|
||||||
Continuing operations
|
$
|
(1.23
|
)
|
|
$
|
0.16
|
|
|
$
|
0.13
|
|
Discontinued operations
|
$
|
4.94
|
|
|
$
|
1.10
|
|
|
$
|
1.15
|
|
Net income per share - diluted
|
$
|
3.71
|
|
|
$
|
1.26
|
|
|
$
|
1.28
|
|
|
|
|
|
|
|
||||||
Weighted-average shares outstanding:
|
|
|
|
|
|
||||||
Basic
|
670
|
|
|
689
|
|
|
696
|
|
|||
Diluted
|
670
|
|
|
696
|
|
|
704
|
|
|||
Cash dividends declared per common share
|
$
|
4.60
|
|
|
$
|
0.60
|
|
|
$
|
0.60
|
|
|
|
Year Ended
|
||||||||||
|
April 1,
2016 |
|
April 3,
2015 |
|
March 28,
2014 |
||||||
|
(Dollars in millions)
|
||||||||||
Net income
|
$
|
2,488
|
|
|
$
|
878
|
|
|
$
|
898
|
|
Other comprehensive (loss) income, net of taxes:
|
|
|
|
|
|
||||||
Foreign currency translation adjustments:
|
|
|
|
|
|
||||||
Translation adjustments
|
(6
|
)
|
|
(89
|
)
|
|
1
|
|
|||
Reclassification adjustments for loss (gain) included in net income
|
1
|
|
|
(1
|
)
|
|
4
|
|
|||
Net foreign currency translation adjustments
|
(5
|
)
|
|
(90
|
)
|
|
5
|
|
|||
Available-for-sale securities:
|
|
|
|
|
|
||||||
Unrealized gain, net of taxes of $2, $0, and $1, respectively
|
4
|
|
|
—
|
|
|
1
|
|
|||
Reclassification adjustments for realized gain included in net income, net of taxes of $0, $0, and $(10), respectively
|
—
|
|
|
—
|
|
|
(14
|
)
|
|||
Net increase (decrease) from available-for-sale securities
|
4
|
|
|
—
|
|
|
(13
|
)
|
|||
Other comprehensive loss, net of taxes
|
(1
|
)
|
|
(90
|
)
|
|
(8
|
)
|
|||
Comprehensive income
|
$
|
2,487
|
|
|
$
|
788
|
|
|
$
|
890
|
|
|
Common Stock and
Additional Paid-In Capital
|
|
Accumulated
Other
Comprehensive
Income
|
|
Retained
Earnings
(Accumulated Deficit)
|
|
Total
Stockholders’ Equity |
|||||||||||
|
Shares
|
|
Amount
|
|
||||||||||||||
|
(In millions)
|
|||||||||||||||||
Balance as of March 29, 2013
|
698
|
|
|
$
|
7,320
|
|
|
$
|
202
|
|
|
$
|
(2,046
|
)
|
|
$
|
5,476
|
|
Net income
|
—
|
|
|
—
|
|
|
—
|
|
|
898
|
|
|
898
|
|
||||
Other comprehensive loss
|
—
|
|
|
—
|
|
|
(8
|
)
|
|
—
|
|
|
(8
|
)
|
||||
Common stock issued under employee stock plans
|
18
|
|
|
234
|
|
|
—
|
|
|
—
|
|
|
234
|
|
||||
Repurchases of common stock
|
(21
|
)
|
|
(500
|
)
|
|
—
|
|
|
—
|
|
|
(500
|
)
|
||||
Tax payments related to restricted stock units
|
—
|
|
|
(45
|
)
|
|
—
|
|
|
—
|
|
|
(45
|
)
|
||||
Dividends paid and accrued
|
—
|
|
|
(429
|
)
|
|
—
|
|
|
—
|
|
|
(429
|
)
|
||||
Stock-based compensation
|
—
|
|
|
157
|
|
|
—
|
|
|
—
|
|
|
157
|
|
||||
Income tax benefit from employee stock transactions
|
—
|
|
|
14
|
|
|
—
|
|
|
—
|
|
|
14
|
|
||||
Balance as of March 28, 2014
|
695
|
|
|
6,751
|
|
|
194
|
|
|
(1,148
|
)
|
|
5,797
|
|
||||
Net income
|
—
|
|
|
—
|
|
|
—
|
|
|
878
|
|
|
878
|
|
||||
Other comprehensive loss
|
—
|
|
|
—
|
|
|
(90
|
)
|
|
—
|
|
|
(90
|
)
|
||||
Common stock issued under employee stock plans
|
10
|
|
|
116
|
|
|
—
|
|
|
—
|
|
|
116
|
|
||||
Repurchases of common stock
|
(21
|
)
|
|
(500
|
)
|
|
—
|
|
|
—
|
|
|
(500
|
)
|
||||
Tax payments related to restricted stock units
|
—
|
|
|
(47
|
)
|
|
—
|
|
|
—
|
|
|
(47
|
)
|
||||
Dividends paid and accrued
|
—
|
|
|
(428
|
)
|
|
—
|
|
|
—
|
|
|
(428
|
)
|
||||
Stock-based compensation
|
—
|
|
|
198
|
|
|
—
|
|
|
—
|
|
|
198
|
|
||||
Income tax benefit from employee stock transactions
|
—
|
|
|
11
|
|
|
—
|
|
|
—
|
|
|
11
|
|
||||
Balance as of April 3, 2015
|
684
|
|
|
6,101
|
|
|
104
|
|
|
(270
|
)
|
|
5,935
|
|
||||
Net income
|
—
|
|
|
—
|
|
|
—
|
|
|
2,488
|
|
|
2,488
|
|
||||
Other comprehensive loss
|
—
|
|
|
—
|
|
|
(1
|
)
|
|
—
|
|
|
(1
|
)
|
||||
Common stock issued under employee stock plans
|
12
|
|
|
65
|
|
|
—
|
|
|
—
|
|
|
65
|
|
||||
Repurchases of common stock
|
(84
|
)
|
|
(1,868
|
)
|
|
—
|
|
|
—
|
|
|
(1,868
|
)
|
||||
Tax payments related to restricted stock units
|
—
|
|
|
(68
|
)
|
|
—
|
|
|
—
|
|
|
(68
|
)
|
||||
Sale of Veritas
|
—
|
|
|
—
|
|
|
(81
|
)
|
|
—
|
|
|
(81
|
)
|
||||
Dividends paid and accrued
|
—
|
|
|
(212
|
)
|
|
—
|
|
|
(2,873
|
)
|
|
(3,085
|
)
|
||||
Equity component of convertible notes
|
—
|
|
|
29
|
|
|
—
|
|
|
—
|
|
|
29
|
|
||||
Stock-based compensation
|
—
|
|
|
245
|
|
|
—
|
|
|
—
|
|
|
245
|
|
||||
Income tax benefit from employee stock transactions
|
—
|
|
|
17
|
|
|
—
|
|
|
—
|
|
|
17
|
|
||||
Balance as of April 1, 2016
|
612
|
|
|
$
|
4,309
|
|
|
$
|
22
|
|
|
$
|
(655
|
)
|
|
$
|
3,676
|
|
|
Year Ended
|
||||||||||
|
April 1,
2016 |
|
April 3,
2015 |
|
March 28,
2014 |
||||||
|
(Dollars in millions)
|
||||||||||
OPERATING ACTIVITIES:
|
|
|
|
|
|
||||||
Net income
|
$
|
2,488
|
|
|
$
|
878
|
|
|
$
|
898
|
|
Income from discontinued operations, net of income taxes
|
(3,309
|
)
|
|
(769
|
)
|
|
(807
|
)
|
|||
Adjustments to reconcile income from continuing operations to net cash provided by operating activities:
|
|
|
|
|
|
||||||
Depreciation
|
213
|
|
|
229
|
|
|
236
|
|
|||
Amortization of intangible assets
|
86
|
|
|
122
|
|
|
131
|
|
|||
Amortization of debt issuance costs and discounts
|
5
|
|
|
4
|
|
|
7
|
|
|||
Stock-based compensation expense
|
161
|
|
|
131
|
|
|
105
|
|
|||
Deferred income taxes
|
1,082
|
|
|
(29
|
)
|
|
46
|
|
|||
Excess income tax benefit from the exercise of stock options
|
(6
|
)
|
|
(10
|
)
|
|
(17
|
)
|
|||
Net gain from sale of short-term investments
|
—
|
|
|
—
|
|
|
(32
|
)
|
|||
Other
|
13
|
|
|
8
|
|
|
7
|
|
|||
Net change in assets and liabilities, excluding effects of acquisitions:
|
|
|
|
|
|
||||||
Accounts receivable, net
|
38
|
|
|
(35
|
)
|
|
36
|
|
|||
Accounts payable
|
(69
|
)
|
|
(73
|
)
|
|
(55
|
)
|
|||
Accrued compensation and benefits
|
(7
|
)
|
|
7
|
|
|
(83
|
)
|
|||
Deferred revenue
|
20
|
|
|
(83
|
)
|
|
(161
|
)
|
|||
Income taxes payable
|
693
|
|
|
(405
|
)
|
|
(240
|
)
|
|||
Other assets
|
(3
|
)
|
|
16
|
|
|
16
|
|
|||
Other liabilities
|
51
|
|
|
26
|
|
|
21
|
|
|||
Net cash provided by continuing operating activities
|
1,456
|
|
|
17
|
|
|
108
|
|
|||
Net cash provided by (used in) discontinued operating activities
|
(660
|
)
|
|
1,295
|
|
|
1,173
|
|
|||
Net cash provided by operating activities
|
796
|
|
|
1,312
|
|
|
1,281
|
|
|||
INVESTING ACTIVITIES:
|
|
|
|
|
|
||||||
Purchases of property and equipment
|
(272
|
)
|
|
(303
|
)
|
|
(194
|
)
|
|||
Payments for acquisitions, net of cash acquired, and purchases of intangibles
|
(4
|
)
|
|
(39
|
)
|
|
(17
|
)
|
|||
Purchases of short-term investments
|
(378
|
)
|
|
(1,758
|
)
|
|
(492
|
)
|
|||
Proceeds from maturities of short-term investments
|
1,056
|
|
|
681
|
|
|
117
|
|
|||
Proceeds from sales of short-term investments
|
299
|
|
|
343
|
|
|
69
|
|
|||
Proceeds from divestiture of information management business, net of cash contributed and transaction costs
|
6,535
|
|
|
—
|
|
|
—
|
|
|||
Net cash provided by (used in) continuing investing activities
|
7,236
|
|
|
(1,076
|
)
|
|
(517
|
)
|
|||
Net cash used in discontinued investing activities
|
(63
|
)
|
|
(78
|
)
|
|
(66
|
)
|
|||
Net cash provided by (used in) investing activities
|
7,173
|
|
|
(1,154
|
)
|
|
(583
|
)
|
|||
FINANCING ACTIVITIES:
|
|
|
|
|
|
||||||
Repayments of debt and other obligations
|
(368
|
)
|
|
(21
|
)
|
|
(1,189
|
)
|
|||
Proceeds from issuance of Convertible Senior Notes
|
500
|
|
|
—
|
|
|
—
|
|
|||
Proceeds from convertible note hedge
|
—
|
|
|
—
|
|
|
189
|
|
|||
Net proceeds from sales of common stock under employee stock benefit plans
|
65
|
|
|
116
|
|
|
234
|
|
|||
Excess income tax benefit from the exercise of stock options
|
6
|
|
|
10
|
|
|
17
|
|
|||
Tax payments related to restricted stock units
|
(39
|
)
|
|
(36
|
)
|
|
(33
|
)
|
|||
Dividends and dividend equivalents paid
|
(3,030
|
)
|
|
(413
|
)
|
|
(418
|
)
|
|||
Repurchases of common stock
|
(1,868
|
)
|
|
(500
|
)
|
|
(500
|
)
|
|||
Proceeds from other financing, net
|
—
|
|
|
44
|
|
|
—
|
|
|||
Net cash used in continuing financing activities
|
(4,734
|
)
|
|
(800
|
)
|
|
(1,700
|
)
|
|||
Net cash used in discontinued financing activities
|
(30
|
)
|
|
(11
|
)
|
|
(12
|
)
|
|||
Net cash used in financing activities
|
(4,764
|
)
|
|
(811
|
)
|
|
(1,712
|
)
|
|||
Effect of exchange rate fluctuations on cash and cash equivalents
|
(96
|
)
|
|
(180
|
)
|
|
36
|
|
|||
Change in cash and cash equivalents
|
3,109
|
|
|
(833
|
)
|
|
(978
|
)
|
|||
Beginning cash and cash equivalents
|
2,874
|
|
|
3,707
|
|
|
4,685
|
|
|||
Ending cash and cash equivalents
|
5,983
|
|
|
2,874
|
|
|
3,707
|
|
|||
Less: Cash and cash equivalents of discontinued operations
|
—
|
|
|
31
|
|
|
12
|
|
|||
Cash and cash equivalents of continuing operations
|
$
|
5,983
|
|
|
$
|
2,843
|
|
|
$
|
3,695
|
|
Equity investment in Veritas received as consideration
|
$
|
149
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Income taxes paid, net of refunds
|
$
|
302
|
|
|
$
|
353
|
|
|
$
|
224
|
|
Interest expense paid
|
$
|
70
|
|
|
$
|
75
|
|
|
$
|
79
|
|
|
April 1, 2016
|
|
April 3, 2015
|
||||
|
(Dollars in millions)
|
||||||
Land
|
$
|
73
|
|
|
$
|
73
|
|
Computer hardware and software
|
987
|
|
|
922
|
|
||
Office furniture and equipment
|
92
|
|
|
88
|
|
||
Buildings
|
426
|
|
|
426
|
|
||
Leasehold improvements
|
310
|
|
|
249
|
|
||
Construction in progress
|
74
|
|
|
79
|
|
||
Gross property and equipment
|
1,962
|
|
|
1,837
|
|
||
Accumulated depreciation
|
(1,005
|
)
|
|
(887
|
)
|
||
Property and equipment, net
|
$
|
957
|
|
|
$
|
950
|
|
•
|
Level 1: Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.
|
•
|
Level 2: Observable inputs that reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data by correlation or other means.
|
•
|
Level 3: Unobservable inputs reflecting our own assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available.
|
|
April 1, 2016
|
|
April 3, 2015
|
||||||||||||||||||||
|
Fair Value
|
|
Cash and Cash Equivalents
|
|
Short-term Investments
|
|
Fair Value
|
|
Cash and Cash Equivalents
|
|
Short-term Investments
|
||||||||||||
|
(Dollars in millions)
|
||||||||||||||||||||||
Cash
|
$
|
1,072
|
|
|
$
|
1,072
|
|
|
$
|
—
|
|
|
$
|
776
|
|
|
$
|
776
|
|
|
$
|
—
|
|
Non-negotiable certificates of deposit
|
1
|
|
|
—
|
|
|
1
|
|
|
296
|
|
|
260
|
|
|
36
|
|
||||||
Level 1
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Money market
|
2,905
|
|
|
2,905
|
|
|
—
|
|
|
1,725
|
|
|
1,725
|
|
|
—
|
|
||||||
U.S. government securities
|
335
|
|
|
310
|
|
|
25
|
|
|
284
|
|
|
—
|
|
|
284
|
|
||||||
Marketable equity securities
|
11
|
|
|
—
|
|
|
11
|
|
|
5
|
|
|
—
|
|
|
5
|
|
||||||
|
3,251
|
|
|
3,215
|
|
|
36
|
|
|
2,014
|
|
|
1,725
|
|
|
289
|
|
||||||
Level 2
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Corporate bonds
|
45
|
|
|
43
|
|
|
2
|
|
|
166
|
|
|
—
|
|
|
166
|
|
||||||
U.S. agency securities
|
526
|
|
|
523
|
|
|
3
|
|
|
68
|
|
|
—
|
|
|
68
|
|
||||||
Commercial paper
|
1,121
|
|
|
1,121
|
|
|
—
|
|
|
333
|
|
|
82
|
|
|
251
|
|
||||||
Negotiable certificates of deposit
|
9
|
|
|
9
|
|
|
—
|
|
|
184
|
|
|
—
|
|
|
184
|
|
||||||
International government securities
|
—
|
|
|
—
|
|
|
—
|
|
|
23
|
|
|
—
|
|
|
23
|
|
||||||
|
1,701
|
|
|
1,696
|
|
|
5
|
|
|
774
|
|
|
82
|
|
|
692
|
|
||||||
Total
|
$
|
6,025
|
|
|
$
|
5,983
|
|
|
$
|
42
|
|
|
$
|
3,860
|
|
|
$
|
2,843
|
|
|
$
|
1,017
|
|
|
April 3, 2015
|
||
|
(Dollars in millions)
|
||
Assets:
|
|
||
Cash and cash equivalents
|
$
|
31
|
|
Accounts receivable, net
|
293
|
|
|
Other current assets
|
91
|
|
|
Property and equipment, net
|
255
|
|
|
Intangible assets, net
|
103
|
|
|
Goodwill
|
2,701
|
|
|
Equity investments
|
5
|
|
|
Other long-term assets
|
46
|
|
|
Total assets classified as discontinued operations
|
$
|
3,525
|
|
|
|
||
Liabilities:
|
|
||
Accounts payable
|
$
|
44
|
|
Accrued compensation and benefits
|
166
|
|
|
Deferred revenue
|
682
|
|
|
Other current liabilities
|
44
|
|
|
Long-term deferred revenue
|
111
|
|
|
Other long-term obligations
|
23
|
|
|
Total liabilities classified as discontinued operations
|
$
|
1,070
|
|
|
Year Ended
|
||||||||||
|
April 1, 2016
|
|
April 3, 2015
|
|
March 28, 2014
|
||||||
|
(Dollars in millions)
|
||||||||||
Net revenues
|
$
|
1,968
|
|
|
$
|
2,552
|
|
|
$
|
2,493
|
|
Cost of revenues
|
(334
|
)
|
|
(426
|
)
|
|
(358
|
)
|
|||
Operating expenses
|
(1,270
|
)
|
|
(1,131
|
)
|
|
(1,096
|
)
|
|||
Gain on sale of Veritas
|
4,060
|
|
|
—
|
|
|
—
|
|
|||
Other income (expense), net
|
3
|
|
|
(3
|
)
|
|
10
|
|
|||
Income from discontinued operations before income taxes
|
4,427
|
|
|
992
|
|
|
1,049
|
|
|||
Provision for income taxes
|
1,118
|
|
|
223
|
|
|
242
|
|
|||
Income from discontinued operations, net of income taxes
|
$
|
3,309
|
|
|
$
|
769
|
|
|
$
|
807
|
|
|
Consumer Security
|
|
Enterprise Security
|
|
Total
|
||||||
|
(Dollars in millions)
|
||||||||||
Balance as of March 28, 2014
|
$
|
1,233
|
|
|
$
|
1,918
|
|
|
$
|
3,151
|
|
Acquisitions
|
—
|
|
|
11
|
|
|
11
|
|
|||
Translation adjustments
|
(3
|
)
|
|
(13
|
)
|
|
(16
|
)
|
|||
Balance as of April 3, 2015
|
1,230
|
|
|
1,916
|
|
|
3,146
|
|
|||
Translation adjustments
|
1
|
|
|
1
|
|
|
2
|
|
|||
Balance as of April 1, 2016
|
$
|
1,231
|
|
|
$
|
1,917
|
|
|
$
|
3,148
|
|
|
April 1, 2016
|
|
April 3, 2015
|
||||||||||||||||||||
|
Gross
Carrying Amount |
|
Accumulated
Amortization |
|
Net
Carrying Amount |
|
Gross
Carrying Amount |
|
Accumulated
Amortization |
|
Net
Carrying Amount |
||||||||||||
|
(Dollars in millions)
|
||||||||||||||||||||||
Customer relationships
|
$
|
406
|
|
|
$
|
(320
|
)
|
|
$
|
86
|
|
|
$
|
637
|
|
|
$
|
(498
|
)
|
|
$
|
139
|
|
Developed technology
|
144
|
|
|
(84
|
)
|
|
60
|
|
|
200
|
|
|
(117
|
)
|
|
83
|
|
||||||
Finite-lived trade names
|
2
|
|
|
(2
|
)
|
|
—
|
|
|
21
|
|
|
(19
|
)
|
|
2
|
|
||||||
Patents
|
21
|
|
|
(18
|
)
|
|
3
|
|
|
21
|
|
|
(17
|
)
|
|
4
|
|
||||||
Total finite-lived intangible assets
|
573
|
|
|
(424
|
)
|
|
149
|
|
|
879
|
|
|
(651
|
)
|
|
228
|
|
||||||
Indefinite-lived trade names
|
294
|
|
|
—
|
|
|
294
|
|
|
297
|
|
|
—
|
|
|
297
|
|
||||||
Total
|
$
|
867
|
|
|
$
|
(424
|
)
|
|
$
|
443
|
|
|
$
|
1,176
|
|
|
$
|
(651
|
)
|
|
$
|
525
|
|
|
|
April 1, 2016
|
||
|
|
(Dollars in millions)
|
||
2017
|
|
$
|
68
|
|
2018
|
|
51
|
|
|
2019
|
|
25
|
|
|
2020
|
|
5
|
|
|
Total
|
|
$
|
149
|
|
|
April 1, 2016
|
|
April 3, 2015
|
||||||||||
|
Amount
|
|
Effective
Interest Rate |
|
Amount
|
|
Effective
Interest Rate |
||||||
|
(Dollars in millions)
|
||||||||||||
2.75% Senior Notes due September 15, 2015
|
$
|
—
|
|
|
—
|
%
|
|
$
|
350
|
|
|
2.76
|
%
|
2.75% Senior Notes due June 15, 2017
|
600
|
|
|
2.79
|
%
|
|
600
|
|
|
2.79
|
%
|
||
4.20% Senior Notes due September 15, 2020
|
750
|
|
|
4.25
|
%
|
|
750
|
|
|
4.25
|
%
|
||
3.95% Senior Notes due June 15, 2022
|
400
|
|
|
4.05
|
%
|
|
400
|
|
|
4.05
|
%
|
||
2.50% Convertible Senior Notes due April 1, 2021
|
500
|
|
|
3.76
|
%
|
|
—
|
|
|
—
|
%
|
||
Total principal amount
|
2,250
|
|
|
|
|
2,100
|
|
|
|
||||
Less: unamortized discount and issuance costs
|
(43
|
)
|
|
|
|
(4
|
)
|
|
|
||||
Total debt
|
2,207
|
|
|
|
|
2,096
|
|
|
|
||||
Less: current portion
|
—
|
|
|
|
|
(350
|
)
|
|
|
||||
Total long-term portion
|
$
|
2,207
|
|
|
|
|
$
|
1,746
|
|
|
|
|
|
April 1, 2016
|
||
|
|
(Dollars in millions)
|
||
2017
|
|
$
|
—
|
|
2018
|
|
600
|
|
|
2019
|
|
—
|
|
|
2020
|
|
—
|
|
|
2021
|
|
1,250
|
|
|
Thereafter
|
|
400
|
|
|
Total
|
|
$
|
2,250
|
|
|
April 3, 2015
|
|
Costs, Net of
Adjustments |
|
Cash Payments
|
|
April 1, 2016
|
|
Cumulative
Incurred to Date |
||||||||||
|
(Dollars in millions)
|
||||||||||||||||||
Fiscal 2014 Plan total
|
$
|
4
|
|
|
$
|
—
|
|
|
$
|
(4
|
)
|
|
$
|
—
|
|
|
$
|
238
|
|
Fiscal 2015 Plan
|
|
|
|
|
|
|
|
|
|
||||||||||
Severance costs
|
59
|
|
|
34
|
|
|
(88
|
)
|
|
5
|
|
|
136
|
|
|||||
Separation costs
|
17
|
|
|
214
|
|
|
(215
|
)
|
|
16
|
|
|
295
|
|
|||||
Other exit and disposal costs
|
6
|
|
|
18
|
|
|
(16
|
)
|
|
8
|
|
|
25
|
|
|||||
Fiscal 2015 Plan total
|
82
|
|
|
266
|
|
|
(319
|
)
|
|
29
|
|
|
$
|
456
|
|
||||
Restructuring and separation plans total
|
$
|
86
|
|
|
266
|
|
|
$
|
(323
|
)
|
|
$
|
29
|
|
|
|
|
|
April 1, 2016
|
||
|
|
(Dollars in millions)
|
||
2017
|
|
$
|
86
|
|
2018
|
|
66
|
|
|
2019
|
|
58
|
|
|
2020
|
|
37
|
|
|
2021
|
|
32
|
|
|
Thereafter
|
|
25
|
|
|
Total minimum future lease payments
|
|
304
|
|
|
Sublease income
|
|
(70
|
)
|
|
Total minimum future lease payments, net
|
|
$
|
234
|
|
|
|
April 1, 2016
|
||
|
|
(Dollars in millions)
|
||
2017
|
|
$
|
256
|
|
2018
|
|
21
|
|
|
2019
|
|
50
|
|
|
Thereafter
|
|
2
|
|
|
Total purchase obligations
|
|
$
|
329
|
|
•
|
Consumer Security:
Our Consumer Security segment focuses on making it simple for customers to be productive and protected at home and at work. Our Norton-branded services provide multi-layer security and identity protection on major desktop and mobile operating systems, to defend against increasingly complex online threats to individuals, families, and small businesses.
|
•
|
Enterprise Security:
Our Enterprise Security segment protects organizations so they can securely conduct business while leveraging new platforms and data. Our Enterprise Security segment includes our threat protection products, information protection products, cyber security services, and website security offerings, previously named trust services.
|
|
Consumer Security
|
|
Enterprise Security
|
|
Total Segments
|
||||||
|
(Dollars in millions)
|
||||||||||
Fiscal 2016
|
|
|
|
|
|
||||||
Net revenues
|
$
|
1,670
|
|
|
$
|
1,930
|
|
|
$
|
3,600
|
|
Operating income
|
924
|
|
|
102
|
|
|
1,026
|
|
|||
Fiscal 2015
|
|
|
|
|
|
||||||
Net revenues
|
$
|
1,887
|
|
|
$
|
2,069
|
|
|
$
|
3,956
|
|
Operating income
|
982
|
|
|
293
|
|
|
1,275
|
|
|||
Fiscal 2014
|
|
|
|
|
|
||||||
Net revenues
|
$
|
2,063
|
|
|
$
|
2,135
|
|
|
$
|
4,198
|
|
Operating income
|
928
|
|
|
349
|
|
|
1,277
|
|
|
Year Ended
|
||||||||||
|
April 1, 2016
|
|
April 3, 2015
|
|
March 28, 2014
|
||||||
|
(Dollars in millions)
|
||||||||||
Total segment operating income
|
$
|
1,026
|
|
|
$
|
1,275
|
|
|
$
|
1,277
|
|
Less reconciling items:
|
|
|
|
|
|
||||||
Unallocated corporate charges
|
186
|
|
|
704
|
|
|
650
|
|
|||
Stock-based compensation
|
161
|
|
|
131
|
|
|
105
|
|
|||
Amortization of intangibles
|
86
|
|
|
122
|
|
|
131
|
|
|||
Restructuring, separation, and transition
|
136
|
|
|
164
|
|
|
247
|
|
|||
Total consolidated operating income from continuing operations
|
$
|
457
|
|
|
$
|
154
|
|
|
$
|
144
|
|
|
Year Ended
|
||||||||||
|
April 1, 2016
|
|
April 3, 2015
|
|
March 28, 2014
|
||||||
|
(Dollars in millions)
|
||||||||||
Consumer security
|
$
|
1,670
|
|
|
$
|
1,887
|
|
|
$
|
2,063
|
|
Threat protection
|
1,014
|
|
|
1,136
|
|
|
1,197
|
|
|||
Others
(1)
|
916
|
|
|
933
|
|
|
938
|
|
|||
Total product revenue
(2)
|
$
|
3,600
|
|
|
$
|
3,956
|
|
|
$
|
4,198
|
|
|
(1)
|
No other product category was material to the respective totals.
|
(2)
|
A
$15 million
reduction of revenue during fiscal 2014 related to a loss contingency is unallocated and excluded from total product revenue.
|
|
Year Ended
|
||||||||||
|
April 1, 2016
|
|
April 3, 2015
|
|
March 28, 2014
|
||||||
|
(Dollars in millions)
|
||||||||||
U.S.
|
$
|
1,897
|
|
|
$
|
1,960
|
|
|
$
|
2,049
|
|
Foreign countries
(1)
|
1,703
|
|
|
1,996
|
|
|
2,134
|
|
|||
Total net revenue
|
$
|
3,600
|
|
|
$
|
3,956
|
|
|
$
|
4,183
|
|
|
(1)
|
No individual country represented more than 10% of the respective totals.
|
|
April 1, 2016
|
|
April 3, 2015
|
||||
|
(Dollars in millions)
|
||||||
U.S.
|
$
|
809
|
|
|
$
|
693
|
|
Foreign countries
(1)
|
148
|
|
|
257
|
|
||
Total
|
$
|
957
|
|
|
$
|
950
|
|
|
(1)
|
No individual country represented more than 10% of the respective totals.
|
|
Year Ended
|
||||||||||
|
April 1, 2016
|
|
April 3, 2015
|
|
March 28, 2014
|
||||||
|
(Dollars in millions, except dividends per share)
|
||||||||||
Dividends per share
|
$
|
4.60
|
|
|
$
|
0.60
|
|
|
$
|
0.60
|
|
Total amount
|
$
|
3,020
|
|
|
$
|
413
|
|
|
$
|
418
|
|
|
Year Ended
|
||||||||||
|
April 1, 2016
|
|
April 3, 2015
|
|
March 28, 2014
|
||||||
|
(In millions, except per share data)
|
||||||||||
Total number of shares repurchased
|
17
|
|
|
21
|
|
|
21
|
|
|||
Dollar amount of shares repurchased
|
$
|
368
|
|
|
$
|
500
|
|
|
$
|
500
|
|
Average price paid per share
|
$
|
21.69
|
|
|
$
|
23.73
|
|
|
$
|
23.87
|
|
Remaining authorization at end of period
|
$
|
790
|
|
|
$
|
1,158
|
|
|
$
|
658
|
|
|
Foreign Currency
Translation Adjustments
|
|
Unrealized Gain On
Available-For-Sale
Securities
|
|
Total
|
||||||
|
(Dollars in millions)
|
||||||||||
Balance as of April 3, 2015
|
$
|
101
|
|
|
$
|
3
|
|
|
$
|
104
|
|
Sale of Veritas
|
(81
|
)
|
|
—
|
|
|
(81
|
)
|
|||
Other comprehensive (loss) income before reclassifications
|
(6
|
)
|
|
4
|
|
|
(2
|
)
|
|||
Amounts reclassified from accumulated other
comprehensive income |
1
|
|
|
—
|
|
|
1
|
|
|||
Balance as of April 1, 2016
|
$
|
15
|
|
|
$
|
7
|
|
|
$
|
22
|
|
|
Year Ended
|
||||||||||
|
April 1, 2016
|
|
April 3, 2015
|
|
March 28, 2014
|
||||||
|
(Dollars in millions)
|
||||||||||
Cost of revenue
|
$
|
10
|
|
|
$
|
15
|
|
|
$
|
10
|
|
Sales and marketing
|
53
|
|
|
46
|
|
|
35
|
|
|||
Research and development
|
56
|
|
|
39
|
|
|
29
|
|
|||
General and administrative
|
42
|
|
|
31
|
|
|
31
|
|
|||
Total stock-based compensation expense from continuing operations
|
161
|
|
|
131
|
|
|
105
|
|
|||
Tax benefit associated with stock-based compensation expense
|
(50
|
)
|
|
(37
|
)
|
|
(30
|
)
|
|||
Net stock-based compensation expense from continuing operations
|
111
|
|
|
94
|
|
|
75
|
|
|||
Net stock-based compensation expense from discontinued operations
|
56
|
|
|
46
|
|
|
36
|
|
|||
Net stock-based compensation expense
|
$
|
167
|
|
|
$
|
140
|
|
|
$
|
111
|
|
|
Number of
Shares |
|
Weighted-
Average Grant Date Fair Value |
|
Weighted-
Average Remaining Years |
|
Aggregate Intrinsic
Value |
|||||
|
(In millions, except per share and years data)
|
|||||||||||
Outstanding at April 3, 2015
|
26
|
|
|
$
|
22.23
|
|
|
|
|
|
||
Granted
|
14
|
|
|
23.20
|
|
|
|
|
|
|||
Vested and released
|
(11
|
)
|
|
21.73
|
|
|
|
|
|
|||
Forfeited
|
(12
|
)
|
|
22.91
|
|
|
|
|
|
|||
Outstanding and unvested at April 1, 2016
|
17
|
|
|
$
|
22.72
|
|
|
1.2
|
|
$
|
306
|
|
Expected to vest at April 1, 2016
|
14
|
|
|
|
|
1.1
|
|
$
|
256
|
|
|
Year Ended
|
||||||||||
|
April 1, 2016
|
|
April 3, 2015
|
|
March 28, 2014
|
||||||
|
(Dollars in millions)
|
||||||||||
Current:
|
|
|
|
|
|
||||||
Federal
|
$
|
69
|
|
|
$
|
4
|
|
|
$
|
(18
|
)
|
State
|
13
|
|
|
(18
|
)
|
|
(10
|
)
|
|||
International
|
46
|
|
|
40
|
|
|
31
|
|
|||
|
128
|
|
|
26
|
|
|
3
|
|
|||
Deferred:
|
|
|
|
|
|
||||||
Federal
|
1,060
|
|
|
(38
|
)
|
|
5
|
|
|||
State
|
15
|
|
|
(4
|
)
|
|
12
|
|
|||
International
|
10
|
|
|
8
|
|
|
(4
|
)
|
|||
|
1,085
|
|
|
(34
|
)
|
|
13
|
|
|||
Provision for income taxes
|
$
|
1,213
|
|
|
$
|
(8
|
)
|
|
$
|
16
|
|
|
Year Ended
|
||||||||||
|
April 1, 2016
|
|
April 3, 2015
|
|
March 28, 2014
|
||||||
|
(Dollars in millions)
|
||||||||||
Federal statutory tax
|
$
|
138
|
|
|
$
|
35
|
|
|
$
|
38
|
|
Foreign earnings not considered indefinitely reinvested, net
|
1,065
|
|
|
(8
|
)
|
|
2
|
|
|||
State taxes, net of federal benefit
|
9
|
|
|
(13
|
)
|
|
1
|
|
|||
Foreign earnings taxed at less than the federal rate
|
12
|
|
|
34
|
|
|
8
|
|
|||
Domestic production activities deduction
|
(5
|
)
|
|
(1
|
)
|
|
—
|
|
|||
Federal research and development credit
|
(9
|
)
|
|
(8
|
)
|
|
(4
|
)
|
|||
Valuation allowance (decrease) increase
|
10
|
|
|
1
|
|
|
(3
|
)
|
|||
Nondeductible separation costs
|
1
|
|
|
2
|
|
|
—
|
|
|||
Change in uncertain tax positions
|
(4
|
)
|
|
(57
|
)
|
|
(19
|
)
|
|||
Other, net
|
(4
|
)
|
|
7
|
|
|
(7
|
)
|
|||
Provision for income taxes
|
$
|
1,213
|
|
|
$
|
(8
|
)
|
|
$
|
16
|
|
|
Year Ended
|
||||||
|
April 1, 2016
|
|
April 3, 2015
|
||||
|
(Dollars in millions)
|
||||||
Deferred tax assets:
|
|
|
|
||||
Tax credit carryforwards
|
$
|
53
|
|
|
$
|
31
|
|
Net operating loss carryforwards of acquired companies
|
34
|
|
|
57
|
|
||
Other accruals and reserves not currently tax deductible
|
112
|
|
|
173
|
|
||
Deferred revenue
|
89
|
|
|
74
|
|
||
Loss on investments not currently tax deductible
|
14
|
|
|
16
|
|
||
State income taxes
|
8
|
|
|
14
|
|
||
Stock-based compensation
|
39
|
|
|
45
|
|
||
Other
|
9
|
|
|
—
|
|
||
Gross deferred tax assets
|
358
|
|
|
410
|
|
||
Valuation allowance
|
(50
|
)
|
|
(60
|
)
|
||
Deferred tax assets, net of valuation allowance
|
$
|
308
|
|
|
$
|
350
|
|
Deferred tax liabilities:
|
|
|
|
||||
Property and equipment
|
$
|
(106
|
)
|
|
$
|
(88
|
)
|
Goodwill
|
(50
|
)
|
|
(54
|
)
|
||
Intangible assets
|
(11
|
)
|
|
(24
|
)
|
||
Unremitted earnings of foreign subsidiaries
|
(1,327
|
)
|
|
(273
|
)
|
||
Prepaids and deferred expenses
|
(17
|
)
|
|
(42
|
)
|
||
Total deferred tax liabilities
|
(1,511
|
)
|
|
(481
|
)
|
||
Net deferred tax assets (liabilities)
|
$
|
(1,203
|
)
|
|
$
|
(131
|
)
|
|
Year Ended
|
||||||||||
|
April 1, 2016
|
|
April 3, 2015
|
|
March 28, 2014
|
||||||
|
(Dollars in millions)
|
||||||||||
Balance at beginning of year
|
$
|
193
|
|
|
$
|
282
|
|
|
$
|
412
|
|
Settlements with tax authorities
|
(25
|
)
|
|
(150
|
)
|
|
(122
|
)
|
|||
Lapse of statute of limitations
|
(15
|
)
|
|
(13
|
)
|
|
(11
|
)
|
|||
Decrease due to divestiture
|
(7
|
)
|
|
—
|
|
|
—
|
|
|||
Increase related to prior period tax positions
|
4
|
|
|
147
|
|
|
27
|
|
|||
Decrease related to prior period tax positions
|
(7
|
)
|
|
(96
|
)
|
|
(50
|
)
|
|||
Increase related to current year tax positions
|
54
|
|
|
23
|
|
|
26
|
|
|||
Net increase (decrease)
|
4
|
|
|
(89
|
)
|
|
(130
|
)
|
|||
Balance at end of year
|
$
|
197
|
|
|
$
|
193
|
|
|
$
|
282
|
|
|
Year Ended
|
||||||||||
|
April 1, 2016
|
|
April 3, 2015
|
|
March 28, 2014
|
||||||
|
(In millions, except per share data)
|
||||||||||
Income (loss) from continuing operations
|
$
|
(821
|
)
|
|
$
|
109
|
|
|
$
|
91
|
|
Income from discontinued operations, net of tax
|
3,309
|
|
|
769
|
|
|
807
|
|
|||
Net income
|
$
|
2,488
|
|
|
$
|
878
|
|
|
$
|
898
|
|
Income (loss) per share - basic:
|
|
|
|
|
|
||||||
Continuing operations
|
$
|
(1.23
|
)
|
|
$
|
0.16
|
|
|
$
|
0.13
|
|
Discontinued operations
|
$
|
4.94
|
|
|
$
|
1.12
|
|
|
$
|
1.16
|
|
Net income per share
|
$
|
3.71
|
|
|
$
|
1.27
|
|
|
$
|
1.29
|
|
Income (loss) per share - diluted:
|
|
|
|
|
|
||||||
Continuing operations
|
$
|
(1.23
|
)
|
|
$
|
0.16
|
|
|
$
|
0.13
|
|
Discontinued operations
|
$
|
4.94
|
|
|
$
|
1.10
|
|
|
$
|
1.15
|
|
Net income per share
|
$
|
3.71
|
|
|
$
|
1.26
|
|
|
$
|
1.28
|
|
|
|
|
|
|
|
||||||
Weighted-average outstanding shares - basic
|
670
|
|
|
689
|
|
|
696
|
|
|||
Dilutive potential shares from stock-based compensation
|
—
|
|
|
7
|
|
|
8
|
|
|||
Weighted-average shares outstanding - diluted
|
670
|
|
|
696
|
|
|
704
|
|
|||
Anti-dilutive potential shares
|
20
|
|
|
1
|
|
|
5
|
|
|
|
SYMANTEC CORPORATION
|
|
|
|
|
|
By:
|
/s/ Michael A. Brown
|
|
|
Michael A. Brown
Chief Executive Officer and Director
|
Signature
|
|
Title
|
|
Date
|
|
|
|
|
|
/s/ Michael A. Brown
|
|
Chief Executive Officer and Director
(Principal Executive Officer)
|
|
May 20, 2016
|
Michael A. Brown
|
|
|
|
|
|
|
|
|
|
/s/ Thomas J. Seifert
|
|
Executive Vice President and Chief Financial Officer
(Principal Financial Officer)
|
|
May 20, 2016
|
Thomas J. Seifert
|
|
|
|
|
|
|
|
|
|
/s/ Mark S. Garfield
|
|
Senior Vice President and Chief Accounting Officer
(Principal Accounting Officer)
|
|
May 20, 2016
|
Mark S. Garfield
|
|
|
|
|
|
|
|
|
|
/s/ Daniel H. Schulman
|
|
Chairman of the Board
|
|
May 20, 2016
|
Daniel H. Schulman
|
|
|
|
|
|
|
|
|
|
/s/ Frank E. Dangeard
|
|
Director
|
|
May 20, 2016
|
Frank E. Dangeard
|
|
|
|
|
|
|
|
|
|
/s/ Kenneth Y. Hao
|
|
Director
|
|
May 20, 2016
|
Kenneth Y. Hao
|
|
|
|
|
|
|
|
|
|
/s/ Geraldine B. Laybourne
|
|
Director
|
|
May 20, 2016
|
Geraldine B. Laybourne
|
|
|
|
|
|
|
|
|
|
/s/ David L. Mahoney
|
|
Director
|
|
May 20, 2016
|
David L. Mahoney
|
|
|
|
|
|
|
|
|
|
/s/ Robert S. Miller
|
|
Director
|
|
May 20, 2016
|
Robert S. Miller
|
|
|
|
|
|
|
|
|
|
/s/ Anita M. Sands
|
|
Director
|
|
May 20, 2016
|
Anita M. Sands
|
|
|
|
|
|
|
|
|
|
/s/ V. Paul Unruh
|
|
Director
|
|
May 20, 2016
|
V. Paul Unruh
|
|
|
|
|
|
|
|
|
|
/s/ Suzanne M. Vautrinot
|
|
Director
|
|
May 20, 2016
|
Suzanne M. Vautrinot
|
|
|
|
Exhibit
Number
|
|
|
|
Incorporated by Reference
|
|
Filed
Herewith
|
||||||
Exhibit Description
|
|
Form
|
|
File No.
|
|
Exhibit
|
|
Filing Date
|
|
|||
2.01(§)
|
|
Purchase Agreement dated as of August 11, 2015, by and between Symantec Corporation and Havasu Holdings Ltd.
|
|
8-K
|
|
000-17781
|
|
2.01
|
|
8/13/2015
|
|
|
2.02
|
|
Amendment, dated January 19, 2016, to the Purchase Agreement dated as of August 11, 2015, by and between Symantec Corporation and Veritas Holdings Ltd.
|
|
8-K
|
|
000-17781
|
|
2.01
|
|
1/20/2016
|
|
|
3.01
|
|
Amended and Restated Certificate of Incorporation of Symantec Corporation
|
|
S-8
|
|
333-119872
|
|
4.01
|
|
10/21/2004
|
|
|
3.02
|
|
Certificate of Amendment of Amended and Restated Certificate of Incorporation of Symantec Corporation
|
|
S-8
|
|
333-126403
|
|
4.03
|
|
7/6/2005
|
|
|
3.03
|
|
Certificate of Amendment to Amended and Restated Certificate of Incorporation of Symantec Corporation
|
|
10-Q
|
|
000-17781
|
|
3.01
|
|
8/5/2009
|
|
|
3.04
|
|
Certificate of Designations of Series A Junior Preferred Stock of Symantec Corporation dated June 25, 2015
|
|
8-K
|
|
000-17781
|
|
3.01
|
|
6/26/2015
|
|
|
3.05
|
|
Bylaws, as amended, of Symantec Corporation
|
|
8-K
|
|
000-17781
|
|
3.01
|
|
5/7/2012
|
|
|
4.01
|
|
Form of Common Stock Certificate
|
|
S-3ASR
|
|
333-139230
|
|
4.07
|
|
12/11/2006
|
|
|
4.02
|
|
Credit Agreement, dated as of May 10, 2016, among Symantec Corporation, the lenders party thereto (the “Lenders”), Wells Fargo Bank, National Association, as Administrative Agent, Bank of America, N.A., Citibank, N.A., and JPMorgan Chase Bank, N.A., as Co-Syndication Agents, Barclays Bank, PLC, HSBC Bank USA, National Association, Mizuho Bank, Ltd., Morgan Stanley Senior Funding, Inc., Sumitomo Mitsui Banking Corporation, and The Bank of Tokyo-Mitsubishi UFJ, Ltd. as Co-Documentation Agents, and Wells Fargo Securities, LLC, Merrill Lynch, Pierce, Fenner & Smith, Incorporated, Citigroup Global Markets Inc., and JP Morgan Chase Bank, N.A., as Joint Lead Arrangers and Joint Bookrunners
|
|
|
|
|
|
|
|
|
|
X
|
4.03
|
|
Indenture, dated September 16, 2010, between Symantec Corporation and Wells Fargo Bank, National Association, as trustee
|
|
8-K
|
|
000-17781
|
|
4.01
|
|
9/16/2010
|
|
|
Exhibit
Number
|
|
|
|
Incorporated by Reference
|
|
Filed
Herewith
|
||||||
Exhibit Description
|
|
Form
|
|
File No.
|
|
Exhibit
|
|
Filing Date
|
|
|||
4.04
|
|
Form of Global Note for Symantec’s 4.200% Senior Note due 2020 (contained in Exhibit No. 4.02 of Form 8-K)
|
|
8-K
|
|
000-17781
|
|
4.04
|
|
9/16/2010
|
|
|
4.05
|
|
Form of Global Note for Symantec’s 2.750% Senior Notes due 2017 (contained in Exhibit No. 4.02 of Form 8-K)
|
|
8-K
|
|
000-17781
|
|
4.03
|
|
6/14/2012
|
|
|
4.06
|
|
Form of Global Note for Symantec’s 3.950% Senior Notes due 2022 (contained in Exhibit No. 4.02 of Form 8-K)
|
|
8-K
|
|
000-17781
|
|
4.04
|
|
6/14/2012
|
|
|
4.07
|
|
Indenture, dated as of March 4, 2016, by and between Symantec Corporation and Wells Fargo Bank, National Association, as trustee (including the form of 2.500% Convertible Senior Notes Due 2021)
|
|
8-K
|
|
000-17781
|
|
10.02
|
|
3/7/2016
|
|
|
10.01(*)
|
|
Form of Indemnification Agreement for Officers and Directors, as amended (form for agreements entered into prior to January 17, 2006)
|
|
S-1
|
|
33-28655
|
|
10.17
|
|
6/21/1989
|
|
|
10.02(*)
|
|
Form of Indemnification Agreement for Officers, Directors and Key Employees (form for agreements entered into between January 17, 2006 and March 6, 2016)
|
|
8-K
|
|
000-17781
|
|
10.01
|
|
1/23/2006
|
|
|
10.03(*)
|
|
Form of Indemnification Agreement for Officers, Directors and Key Employees, as amended (form for agreements entered into after March 6, 2016)
|
|
8-K
|
|
000-17781
|
|
10.03
|
|
3/7/2016
|
|
|
10.04(*)
|
|
Symantec Corporation 1996 Equity Incentive Plan, as amended, including form of Stock Option Agreement and form of Restricted Stock Purchase Agreement
|
|
10-K
|
|
000-17781
|
|
10.05
|
|
6/9/2006
|
|
|
10.05(*)
|
|
Symantec Corporation Deferred Compensation Plan, restated and amended January 1, 2010, as adopted December 15, 2009
|
|
10-K
|
|
000-17781
|
|
10.05
|
|
5/24/2010
|
|
|
10.06(*)
|
|
Brightmail Inc. 1998 Stock Option Plan, including form of Stock Option Agreement and form of Notice of Assumption
|
|
10-K
|
|
000-17781
|
|
10.08
|
|
6/9/2006
|
|
|
10.07(*)
|
|
Symantec Corporation 2000 Director Equity Incentive Plan, as amended
|
|
10-Q
|
|
000-17781
|
|
10.01
|
|
11/1/2011
|
|
|
10.08(*)
|
|
Altiris, Inc. 2002 Stock Plan
|
|
S-8
|
|
333-141986
|
|
99.03
|
|
4/10/2007
|
|
|
10.09(*)
|
|
Form of Stock Option Agreement under the Altiris, Inc. 2002 Stock Plan
|
|
S-8
|
|
333-141986
|
|
99.04
|
|
4/10/2007
|
|
|
10.10(*)
|
|
Vontu, Inc. 2002 Stock Option/Stock Issuance Plan, as amended
|
|
|
|
|
|
|
|
|
|
X
|
10.11(*)
|
|
Form of Vontu, Inc. Stock Option Agreement
|
|
S-8
|
|
333-148107
|
|
99.03
|
|
12/17/2007
|
|
|
10.12(*)
|
|
Veritas Software Corporation 2003 Stock Incentive Plan, as amended and restated, including form of Stock Option Agreement, form of Stock Option Agreement for Executives and Senior VPs and form of Notice of Stock Option Assumption
|
|
10-K
|
|
000-17781
|
|
10.15
|
|
6/9/2006
|
|
|
Exhibit
Number
|
|
|
|
Incorporated by Reference
|
|
Filed
Herewith
|
||||||
Exhibit Description
|
|
Form
|
|
File No.
|
|
Exhibit
|
|
Filing Date
|
|
|||
10.13(*)
|
|
Symantec Corporation 2004 Equity Incentive Plan, as amended, including Stock Option Grant — Terms and Conditions, form of RSU Award Agreement, form of RSU Award Agreement for Non-Employee Directors and form of PRU Award Agreement
|
|
|
|
|
|
|
|
|
|
X
|
10.14(*)
|
|
Clearwell Systems, Inc. 2005 Stock Plan, as amended
|
|
|
|
|
|
|
|
|
|
X
|
10.15(*)
|
|
Form of Clearwell Systems, Inc. Stock Option Agreement
|
|
S-8
|
|
333-175783
|
|
99.02
|
|
7/26/2011
|
|
|
10.16(*)
|
|
Symantec Corporation 2008 Employee Stock Purchase Plan, as amended
|
|
10-Q
|
|
000-17781
|
|
10.01
|
|
2/4/2016
|
|
|
10.17(*)
|
|
Symantec Corporation 2013 Equity Incentive Plan, as amended, including form of Stock Option Grant - Terms and Conditions and form of RSU Awards Agreement
|
|
|
|
|
|
|
|
|
|
X
|
10.18(*)
|
|
Form of Symantec Corporation Performance Based Restricted Stock Unit Award Agreement under 2013 Equity Incentive Plan
|
|
10-Q
|
|
000-17781
|
|
10.03
|
|
8/12/2015
|
|
|
10.19(*)
|
|
Symantec Senior Executive Incentive Plan, as amended and restated
|
|
8-K
|
|
000-17781
|
|
10.03
|
|
10/25/2013
|
|
|
10.20(*)
|
|
Symantec Corporation Executive Retention Plan, as amended and restated
|
|
10-K
|
|
000-17781
|
|
10.18
|
|
5/22/2015
|
|
|
10.21(*)
|
|
Symantec Corporation Executive Severance Plan
|
|
10-K
|
|
000-17781
|
|
10.19
|
|
5/22/2015
|
|
|
10.22(*)
|
|
Employment Offer Letter, dated January 15, 2014, between Symantec Corporation and Thomas J. Seifert
|
|
8-K
|
|
000-17781
|
|
10.01
|
|
3/3/2014
|
|
|
10.23(*)
|
|
Amendment to Employment Offer Letter, dated April 30, 2014, between Symantec Corporation and Thomas J. Seifert
|
|
10-Q
|
|
000-17781
|
|
10.01
|
|
8/8/2014
|
|
|
10.24(*)
|
|
Employment Offer Letter, dated February 3, 2014, between Symantec Corporation and Mark Garfield
|
|
8-K
|
|
000-17781
|
|
10.01
|
|
3/10/2014
|
|
|
10.25(*)
|
|
Executive Employment Agreement, dated September 24, 2014, by and between Symantec Corporation and Michael A. Brown
|
|
8-K
|
|
000-17781
|
|
10.01
|
|
9/26/2014
|
|
|
10.26(*)
|
|
Amended Executive Employment Agreement, dated April 28, 2016, by and between Symantec Corporation and Michael A. Brown
|
|
|
|
|
|
|
|
|
|
X
|
10.27(*)
|
|
Employment Offer Letter, dated April 27, 2016, between Symantec Corporation and Ajei Gopal
|
|
|
|
|
|
|
|
|
|
X
|
10.28(*)
|
|
FY16 Executive Annual Incentive Plan -Senior Vice President and Executive Vice President
|
|
10-Q
|
|
000-17781
|
|
10.02
|
|
8/12/2015
|
|
|
10.29(*)
|
|
FY16 Executive Annual Incentive Plan - President and Chief Executive Officer
|
|
10-Q
|
|
000-17781
|
|
10.01
|
|
8/12/2015
|
|
|
10.30
|
|
Assignment of Copyright and Other Intellectual Property Rights, by and between Peter Norton and Peter Norton Computing, Inc., dated August 31, 1990
|
|
S-4
|
|
33-35385
|
|
10.37
|
|
6/13/1990
|
|
|
Exhibit
Number
|
|
|
|
Incorporated by Reference
|
|
Filed
Herewith
|
||||||
Exhibit Description
|
|
Form
|
|
File No.
|
|
Exhibit
|
|
Filing Date
|
|
|||
10.31†
|
|
Environmental Indemnity Agreement, dated April 23, 1999, between Veritas and Fairchild Semiconductor Corporation, included as Exhibit C to that certain Agreement of Purchase and Sale, dated March 29, 1999, between Veritas and Fairchild Semiconductor of California
|
|
S-1/A
|
|
333-83777
|
|
10.27
Exhibit C
|
|
8/6/1999
|
|
|
10.32
|
|
Amendment, dated June 20, 2007, to the Amended and Restated Agreement Respecting Certain Rights of Publicity dated as of August 31, 1990, by and between Peter Norton and Symantec Corporation
|
|
10-Q
|
|
000-17781
|
|
10.01
|
|
8/7/2007
|
|
|
10.33
|
|
Amendment, effective December 6, 2010, to the Trademark License Agreement, dated August 9, 2010, by and between VeriSign, Inc. and Symantec Corporation
|
|
10-Q
|
|
000-17781
|
|
10.01
|
|
2/2/2011
|
|
|
10.34
|
|
Master Confirmation - Accelerated Stock Buyback, dated as of November 9, 2015, between Symantec Corporation and Barclays Bank PLC
|
|
8-K
|
|
000-17781
|
|
10.01
|
|
11/10/2015
|
|
|
10.35
|
|
Master Confirmation - Accelerated Stock Buyback, dated as of March 21, 2016, between Symantec Corporation and Wells Fargo Bank, National Association
|
|
|
|
|
|
|
|
|
|
X
|
10.36
|
|
Master Confirmation - Accelerated Stock Buyback, dated as of March 21, 2016, between Symantec Corporation and Citibank, N.A.
|
|
|
|
|
|
|
|
|
|
X
|
10.37
|
|
Master Confirmation - Accelerated Stock Buyback, dated as of March 21, 2016, between Symantec Corporation and Merrill Lynch International, Acting through its agent, Merrill Lynch, Pierce, Fenner & Smith Incorporated
|
|
|
|
|
|
|
|
|
|
X
|
10.38
|
|
Investment Agreement, dated as of February 3, 2016, by and among Symantec Corporation and Silver Lake Partners IV Cayman (AIV II), L.P.
|
|
8-K
|
|
000-17781
|
|
10.01
|
|
2/9/2016
|
|
|
10.39
|
|
First Amendment to Investment Agreement, dated as of March 2, 2016, by and among Symantec Corporation and Silver Lake Partners IV Cayman (AIV II), L.P.
|
|
8-K
|
|
000-17781
|
|
10.01
|
|
3/7/2016
|
|
|
21.01
|
|
Subsidiaries of Symantec Corporation
|
|
|
|
|
|
|
|
|
|
X
|
23.01
|
|
Consent of Independent Registered Public Accounting Firm
|
|
|
|
|
|
|
|
|
|
X
|
24.01
|
|
Power of Attorney (see Signature page to this annual report)
|
|
|
|
|
|
|
|
|
|
X
|
31.01
|
|
Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
|
|
|
|
|
|
|
|
|
X
|
31.02
|
|
Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
|
|
|
|
|
|
|
|
|
|
X
|
32.01(††)
|
|
Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
|
|
|
|
|
|
|
|
|
|
X
|
Exhibit
Number
|
|
|
|
Incorporated by Reference
|
|
Filed
Herewith
|
||||||
Exhibit Description
|
|
Form
|
|
File No.
|
|
Exhibit
|
|
Filing Date
|
|
|||
32.02(††)
|
|
Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
|
|
|
|
|
|
|
|
|
|
X
|
101.INS
|
|
XBRL Instance Document
|
|
|
|
|
|
|
|
|
|
X
|
101.SCH
|
|
XBRL Taxonomy Schema Linkbase Document
|
|
|
|
|
|
|
|
|
|
X
|
101.CAL
|
|
XBRL Taxonomy Calculation Linkbase Document
|
|
|
|
|
|
|
|
|
|
X
|
101.LAB
|
|
XBRL Taxonomy Labels Linkbase Document
|
|
|
|
|
|
|
|
|
|
X
|
101.PRE
|
|
XBRL Taxonomy Presentation Linkbase Document
|
|
|
|
|
|
|
|
|
|
X
|
101.DEF
|
|
XBRL Taxonomy Definition Linkbase Document
|
|
|
|
|
|
|
|
|
|
X
|
|
1 Year Symantec Chart |
1 Month Symantec Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions