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
Summary of operations:
Year Ended (1)
(In millions, except per share data)
March 31, 2017 (2)
April 1, 2016 (3)
April 3, 2015
March 28, 2014
March 29, 2013
Net revenues
$
4,019
$
3,600
$
3,956
$
4,183
$
4,268
Operating income (loss)
$
(100
)
$
457
$
154
$
144
$
(60
)
Income (loss) from continuing operations
$
(236
)
$
(821
)
$
109
$
91
$
(138
)
Income from discontinued operations, net of income taxes (4)
$
130
$
3,309
$
769
$
807
$
893
Net income (loss)
$
(106
)
$
2,488
$
878
$
898
$
755
Income (loss) per share - basic: (5)
Continuing operations
$
(0.38
)
$
(1.23
)
$
0.16
$
0.13
$
(0.20
)
Discontinued operations
$
0.21
$
4.94
$
1.12
$
1.16
$
1.27
Net income (loss) per share - basic
$
(0.17
)
$
3.71
$
1.27
$
1.29
$
1.08
Income (loss) per share - diluted: (5)
Continuing operations
$
(0.38
)
$
(1.23
)
$
0.16
$
0.13
$
(0.20
)
Discontinued operations
$
0.21
$
4.94
$
1.10
$
1.15
$
1.27
Net income (loss) per share - diluted
$
(0.17
)
$
3.71
$
1.26
$
1.28
$
1.08
Weighted-average shares outstanding:
Basic
618
670
689
696
701
Diluted
618
670
696
704
701
Cash dividends declared per common share
$
0.30
$
4.60
$
0.60
$
0.60
$
—
Consolidated Balance Sheets Data:
(In millions)
March 31, 2017 (6) (9)
April 1, 2016 (8)
April 3, 2015
March 28, 2014 (7)
March 29, 2013
Total assets
$
18,174
$
11,767
$
13,233
$
13,539
$
14,508
Long-term debt
$
6,876
$
2,207
$
1,746
$
2,095
$
2,094
Total stockholders’ equity
$
3,487
$
3,676
$
5,935
$
5,797
$
5,476
(1)
We have a 52/53-week fiscal year. Our fiscal 2015 was a 53-week year whereas fiscal 2017, 2016, 2014, and 2013, each consisted of 52 weeks.
(2)
We acquired Blue Coat on August 1, 2016 and LifeLock on February 9, 2017 and the results of operations of those entities are included from their respective dates of acquisition. See Note 6 to the Consolidated Financial Statements for more information.
(3)
In fiscal 2016, we 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 5 to the Consolidated Financial Statements for more information.
(4)
In fiscal 2016, we 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. See Note 13 to the Consolidated Financial Statements for more information.
(5)
Net income per share amounts may not add due to rounding.
(6)
In fiscal 2017, we acquired total assets of $5.9 billion and $2.9 billion from Blue Coat and LifeLock, respectively. See Note 6 to the Consolidated Financial Statements for more information on our acquisitions.
(7)
In fiscal 2014, the principal balance on our 1.00% Convertible Senior Notes matured and was settled by a cash payment of $1.0 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.
(8)
In fiscal 2016, the principal balance on our 2.75% Senior Notes due September 15, 2015, matured and was settled by a cash payment of $350 million.
(9)
In fiscal 2017, we issued $3.8 billion in Senior Term Facilities due at various dates from May 2019 to August 2021, $1.25 billion in 2.0% Convertible Senior Notes due in August of 2021 and $1.1 billion in 5% Senior Notes due in April of 2025. The proceeds from these issuances were used primarily to fund our Blue Coat and LifeLock acquisitions. In addition, we reclassified $710 million to short-term obligations due to our Board’s approval to prepay some of our Senior Term Facility and $600 million of our 2.75% Senior Notes due June 15, 2017. See Note 8 to the Consolidated Financial Statements for more information on the Company’s long-term debt.
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