Symantec 2007 Annual Report Download - page 111

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The following table summarizes RSU activity for the year ended March 31, 2007.
Number of
Shares
Weighted-
Average
Purchase
Price
Aggregate
Intrinsic Value
(In thousands) (In thousands)
Outstanding at April 1, 2006 ...................... 346 $—
Granted ...................................... 3,143 —
Vested ....................................... (102) —
Forfeited ..................................... (441) —
Outstanding at March 31, 2007 .................... 2,946 $— $50,977
Vested and expected to vest at March 31, 2007 ......... 2,371 $— $41,015
The weighted-average grant date fair value per share of RSUs granted during fiscal 2007 and 2006 was $16.53
and $16.94, respectively. There were no RSUs granted in fiscal 2005. The total fair value of RSUs that vested in
fiscal 2007 and 2006 was $2 million and $5 million, respectively.
Shares reserved
As of March 31, 2007, we had reserved the following shares of authorized but unissued common stock:
Stock purchase plans . . . .............................................. 14,385,370
Stock award plans ................................................... 21,273
Employee stock option plans ........................................... 162,463,854
Total ........................................................... 176,870,497
Note 12. Restructuring
As of March 31, 2007, we had a restructuring and employee termination benefit reserve of $57 million, of
which $52 million was included in Other accrued expenses in the Consolidated Balance Sheets and $5 million was
included in Other long-term liabilities in the Consolidated Balance Sheets. The restructuring reserve consisted of
$47 million related to restructuring reserves established in fiscal 2007, $4 million related to a restructuring reserve
assumed from Veritas in connection with the acquisition, and $6 million related to restructuring reserves established
in fiscal 2006.
Restructuring expense
In fiscal 2007, we recorded approximately $70 million of restructuring and employee termination benefit
expenses which consist of $19 million related to severance, associated benefits, and outplacement services for the
termination of approximately 323 employees located in the Americas, Europe, and Asia Pacific and $51 million
related to the 2007 cost savings initiative announced in January 2007. We implemented the 2007 cost savings
initiative to better align our expenses with our new revenue expectations. The costs included in our 2007 cost
savings initiative reflect $50 million related to severance, associated benefits, and outplacement services and an
insignificant amount related to excess facilities. These restructuring and employee termination benefit costs under
the 2007 cost savings initiative reflect the termination of approximately 988 employees located in the Americas,
Europe, and Asia Pacific and the consolidation of certain facilities in Europe and Asia Pacific. We paid $24 million
under the restructuring and employee termination benefit reserves established in fiscal 2007. We expect the
remainder of the costs to be paid by the end of fiscal 2008.
In fiscal 2006, we recorded $25 million of restructuring costs, of which $18 million related to severance,
associated benefits, and outplacement services and $7 million related to excess facilities. These restructuring costs
105
SYMANTEC CORPORATION
Notes to Consolidated Financial Statements — (Continued)