Symantec 1999 Annual Report Download - page 76

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SYMANTEC CORPORATION
Notes to Consolidated Financial Statements, Continued
62
NOTE 8. ACQUISITION RELATED CASH FLOW INFORMATION
March 31,
(In thousands; unaudited) 1999
Binary
Fair value of assets acquired $ 27,871
Cash paid $ 27,871
IBM’s anti-virus business
Fair value of assets acquired $ 20,250
Expenses incurred $1,250
Liabilities assumed 3,000
Current obligation 8,000
Cash paid 8,000
Total $ 20,250
Intel’s anti-virus business
Fair value of assets acquired $ 16,525
Current obligations $3,181
Long-term obligations 1,455
Cash paid 11,889
Total $ 16,525
Quarterdeck
Fair value of assets acquired $ 85,307
Expenses incurred $1,253
Net liabilities assumed 10,825
Balance due to Quarterdeck Shareholders 16,294
Cash and convertible debenture paid 56,935
Total $ 85,307
NOTE 9. COMMITMENTS
Symantec leases all of its facilities and certain equipment under operating leases that expire at various dates through
2026. We currently sublease some space under various operating leases that will expire at various dates through 2001.
The future fiscal year minimum operating lease commitments were as follows at March 31, 1999:
(In thousands)
2000 $ 12,067
2001 8,777
2002 4,985
2003 4,241
2004 3,424
Thereafter 21,936
Operating lease commitments 55,430
Sublease income (3,215)
Net operating lease commitments $ 52,215
Rent expense charged to operations totaled approximately $15 million, $14 million and $12 million for the years
ended March 31, 1999, 1998 and 1997, respectively.