Symantec 1999 Annual Report Download - page 74

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SYMANTEC CORPORATION
Notes to Consolidated Financial Statements, Continued
60
Consolidated Financial Statements in this Form 10-K. Amortization expense for capitalized software development
costs was approximately $3 million in fiscal 1997.
Prior to fiscal 1997, capitalization of certain software development costs in accordance with SFAS No. 86 did not
materially affect us, expect for amounts capitalized by Delrina prior to its acquisition by Symantec in fiscal 1996. The
related amortization expense was approximately $6 million in fiscal 1996.
NOTE 5. CASH EQUIVALENTS , INVESTMENTS AND FAIR VALUE OF FINANCIAL INSTRUMENTS
Available-For-Sale Investments and Trading Investments
All cash equivalents, short-term investments, long-term investments and restricted investments have been classified as
available-for-sale securities, except for $0.5 million of trading securities. During fiscal 1999, we maintained a trading
asset portfolio to generate returns that offset changes in certain liabilities related to deferred compensation
arrangements. The trading assets, which consist of marketable equity securities and have a fair value of
approximately $0.5 million, have been included in the available-for-sale tabular disclosure, due to immateriality.
As of March 31, 1999 and 1998, the estimated fair value of the cash equivalents, short-term investments and long-
term investments consisted of the following:
Cash equivalents, short and long-term investments (in thousands) 1999 1998
Money market funds $19,891 $15,685
Corporate securities 53,839 161,848
Bank securities and deposits 60,322 41,655
Taxable Auction Rate Securities 10,010 --
US government and government sponsored securities 11,932 12,717
Total available-for-sale and trading investments $ 155,994 $ 231,905
The estimated fair value of marketable securities by contractual maturity as of March 31, 1999 are as follows:
Cash equivalents, short and long-term investments (in thousands) 1999
Due in one year or less $151,724
Due after one year through three years 3,330
Due after three years 940
$ 155,994
Fair values of cash equivalents, short-term investments and long-term investments and trading assets approximate cost
due to one or more of the following: the short-term maturities of the investments, absence of changes in underlying
interest rates or the absence of changes in security credit ratings.
As of March 31, 1999 and 1998, the estimated fair value of the restricted investments consisted of the following:
Restricted Investments (in thousands) 1999 1998
US government and government sponsored securities $ 71,405 $ 59,370
The estimated fair value of restricted marketable securities by contractual maturity as of March 31, 1999 are as
follows:
Restricted Investments (in thousands) 1999
Due in one year or less $45,562
Due after one year through three years 25,843
$ 71,405
Our available-for-sale restricted investments relate to certain collateral requirements for lease agreements associated
with our corporate facilities in Cupertino, California. Fair values of the restricted investments approximate cost due
to one or more of the following: the short-term maturities of the investments, absence of changes in underlying
interest rates or the absence of changes in security credit ratings.