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, and Note 3 of the Notes to Consolidated Financial Statements in this annual report. Historical results may not be indicative of future results.
Five-Year Summary
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.
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