Symantec 2004 Annual Report Download - page 63

Download and view the complete annual report

Please find page 63 of the 2004 Symantec annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 80

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80

SYMANTEC CORPORATION «61»
2004 Annual Report
Goodwill by operating segment was as follows (in thousands):
Enterprise Enterprise Consumer
(In thousands) Security Administration Services Products Total
Balance, as of March 31, 2003 $ 696,646 $ 8,377 $ 119,094 $ 9,332 $ 833,449
Goodwill acquired during fiscal 2004:
ON Technology – 86,016 – – 86,016
PowerQuest – 119,922 – – 119,922
SafeWeb 21,603 – – – 21,603
Nexland 20,791 – – – 20,791
Goodwill adjustments (1,022) – – – (1,022)
Balance, as of March 31, 2004 $ 738,018 $ 214,315 $ 119,094 $ 9,332 $1,080,759
Other intangible assets are included in Other long-term assets on the Consolidated Balance Sheets and were subject to amortization
as follows:
(In thousands) March 31, 2004
Gross Carrying Accumulated Net Carrying
Amount Amortization Amount
Other Intangible Assets:
Customer base $ 11,410 $ (4,229) $ 7,181
Tradename 6,910 (5,345) 1,565
Marketing related assets 2,100 (875) 1,225
$ 20,420 $ (10,449) $ 9,971
(In thousands) March 31, 2004
Gross Carrying Accumulated Net Carrying
Amount Amortization Amount
Other Intangible Assets:
Customer base $ 4,200 $ (3,321) $ 879
Tradename 6,000 (3,825) 2,175
Marketing related assets 2,100 (350) 1,750
$ 12,300 $ (7,496) $ 4,804
Goodwill is tested for impairment on an annual basis. We completed
our annual goodwill impairment required by SFAS No. 142
during the March 2004 quarter and determined that there was no
impairment of goodwill. We will continue to test for impairment
during the fourth quarter of each year, or earlier if indicators of
impairment exist.
Acquired product rights were subject to amortization as follows:
(In thousands) March 31,
2004 2003
Acquired product rights, net:
Acquired product rights $255,818 $165,642
Less: accumulated amortization (134,880) (92,517)
$120,938 $ 73,125