The following selected consolidated financial data is derived from our Consolidated Financial Statements. This data should be read in conjunction with our Consolidated Financial Statements and related notes included in
this annual report and with Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations. Historical results may not be indicative of future results.
Five-Year Summary
Fiscal (a)
2014
2013
2012
2011
2010
(In millions, except per share data)
Consolidated Statements of Income Data:
Net revenue
$
6,676
$
6,906
$
6,730
$
6,190
$
5,985
Operating income (b)
1,183
1,106
1,104
927
927
Net income attributable to Symantec Corporation stockholders (b)(c)
$
898
$
755
$
1,187
$
626
$
711
Net income per share attributable to Symantec Corporation stockholders — basic (b)(c)
$
1.29
$
1.08
$
1.60
$
0.80
$
0.88
Net income per share attributable to Symantec Corporation stockholders — diluted (b)(c)
$
1.28
$
1.06
$
1.59
$
0.76
$
0.87
Weighted-average shares outstanding attributable to Symantec Corporation stockholders — basic
696
701
741
778
810
Weighted-average shares outstanding attributable to Symantec Corporation stockholders — diluted
704
711
748
786
819
Cash dividends per share attributable to Symantec Corporation (g)
We have a 52/53-week fiscal year. Fiscal 2014, 2013, 2012, 2011, and 2010 each consisted of 52 weeks.
(b)
Effective March 30, 2013, we changed our accounting policy for sales commissions that are incremental and directly related to customer sales contracts in which revenue is deferred. The adoption of this accounting policy change has been applied retrospectively for all periods presented. See Note 1 of the Notes to Consolidated Financial Statements in this annual report for information regarding the change in accounting policy for sales commissions.
(c)
In fiscal 2008, we formed a joint venture with a subsidiary of Huawei Technologies Co., Limited (“Huawei”). In fiscal 2012, we sold our 49% ownership interest in the joint venture to Huawei for $530 million in cash. The gain of $530 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 Income.
(d)
In the first quarter of fiscal 2007, we issued $1.0 billion in principal amount of 1.00% Convertible Senior Notes (“1.00% notes”), due in June 2013. On June 15, 2013, the principal balance on those notes matured and was settled by a cash payment of $1 billion, along with the $5 million semi-annual interest payment. In addition, we elected to pay the conversion value above par value of the 1.00% notes in cash in the amount of
$189 million. Concurrently with the payment of the conversion value we received $189 million from the note hedge we entered into at the time of the issuance of the 1.00% notes. 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 at a price of $27.1330 per share. All the warrants expired unexercised on various dates during the second quarter of fiscal 2014 and there was no dilutive impact from the warrants on our earnings per share for fiscal 2014.
(e)
In fiscal 2011, we issued $350 million in principal amount of 2.75% senior notes due September 2015 (“2.75% notes due 2015”) and $750 million in principal amount of 4.20% senior notes due September 2020 (“4.20% notes”). In fiscal 2013, we issued $600 million in principal amount of 2.75% senior notes due June 2017 (“2.75% notes due 2017”) and $400 million in principal amount of 3.95% senior notes due June 2022 (“3.95% notes”).
(f)
See Note 1 of the Notes to Consolidated Financial Statements in this annual report for information regarding the correction of an error related to deferred revenue. The out-of-period effect on net income of correcting this error in fiscal 2014 is $22 million and the effect on Symantec Corporation stockholders’ equity as of the beginning of fiscal 2012 was $49 million. Long-term deferred revenue and Total stockholders’ equity as of fiscal 2011 and 2010 have also been adjusted. However, income statement data for fiscal years 2011 and 2010 have not been adjusted as the impact on Net income in each of these years was not material.
(g)
During fiscal 2014, we declared and paid common stock cash dividends. Dividends were recorded as a reduction to additional paid-in capital. No dividends or dividend equivalents were paid prior to fiscal 2014. See Note 5 of the Notes to Consolidated Financial Statements in this annual report for information regarding dividends and dividend equivalents.
(h)
During fiscal 2012, we recorded an impairment of $19 million as a cumulative-effect adjustment in accumulated deficit, related to an implied fair value measurement made for our former Services reporting unit upon the adoption of a new accounting standard.
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