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)
April 3, 2020(2)
March 29, 2019(3)
March 30, 2018(4)
March 31, 2017(5)
April 1, 2016(6)
Net revenues
$
2,490
$
2,456
$
2,559
$
2,091
$
2,080
Operating income (loss)
$
355
$
158
$
(154
)
$
(152
)
$
167
Income (loss) from continuing operations
$
578
$
(110
)
$
964
$
(138
)
$
(1,013
)
Income from discontinued operations (5)
$
3,309
$
141
$
174
$
32
$
3,501
Net income (loss)
$
3,887
$
31
$
1,138
$
(106
)
$
2,488
Income (loss) per share - basic: (7)
Continuing operations
$
0.94
$
(0.17
)
$
1.56
$
(0.22
)
$
(1.51
)
Discontinued operations
$
5.38
$
0.22
$
0.28
$
0.05
$
5.23
Net income (loss) per share - basic
$
6.32
$
0.05
$
1.85
$
(0.17
)
$
3.71
Income (loss) per share - diluted: (7)
Continuing operations
$
0.90
$
(0.17
)
$
1.44
$
(0.22
)
$
(1.51
)
Discontinued operations
$
5.15
$
0.22
$
0.26
$
0.05
$
5.23
Net income (loss) per share - diluted
$
6.05
$
0.05
$
1.70
$
(0.17
)
$
3.71
Cash dividends declared per common share
$
12.40
$
0.30
$
0.30
$
0.30
$
4.60
Consolidated Balance Sheets Data:
(In millions)
April 3, 2020
March 29, 2019
March 30, 2018
March 31, 2017
April 1, 2016
Cash, cash equivalents and short-term investments
$
2,263
$
2,043
$
2,162
$
4,256
$
6,025
Total assets
$
7,735
$
15,938
$
15,759
$
18,174
$
11,767
Long-term debt
$
3,465
$
3,961
$
5,026
$
6,876
$
2,207
Total stockholders’ equity
$
10
$
5,738
$
5,023
$
3,487
$
3,676
(1)
We have a 52/53-week fiscal year. Our fiscal 2020 was a 53-week year, whereas fiscal 2019, 2018, 2017, and 2016 each consisted of 52 weeks.
(2)
In fiscal 2020, we completed the sale of certain assets and the assumption of certain liabilities of our Enterprise Security business to Broadcom Inc. (the Broadcom sale) and recognized a gain of $5,434 million before income taxes, which is presented within income from income from discontinued operations. In connection with the Broadcom sale, we made a distribution to our stockholders through a special dividend of $12 per share of common stock. The aggregate amount of such dividend payments was $7.2 billion. We also recognized gains of $379 million and $250 million before income taxes on our sale of equity interest in DigiCert and divestiture of ID Analytics, respectively. Both gains were recognized within continuing operations.
(3)
In the first quarter of fiscal 2019, we adopted the new revenue recognition accounting standard on a modified retrospective basis. The results for fiscal 2020 and 2019 are presented under the new revenue recognition accounting standard, while prior years are not adjusted.
(4)
In fiscal 2018, we sold Website Security and Public Key Infrastructure solutions and recognized a gain of $653 million before income taxes associated with the sale (see Note 3 to the Consolidated Financial Statements), and we recognized an income tax benefit of $659 million as a result of the enactment of the Tax Cuts and Jobs Act (H.R.1).
(5)
In fiscal 2017, we acquired Blue Coat and LifeLock, and the results of operations of those entities were included from their respective dates of acquisition.
(6)
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 our Veritas information management business. This charge was recognized within continuing operations. As a result of the sale of Veritas, a net gain of $3.0 billion was recognized within discontinued operations, net of income taxes.
(7)
Net income per share amounts may not add due to rounding.
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