Symantec 2007 Annual Report Download - page 112

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reflect the termination of 446 redundant employees located in the Americas, Europe, and Asia Pacific and the
consolidation of certain facilities in Europe and Asia Pacific. At March 31, 2006, $9 million remained related to this
reserve. In fiscal 2007, we paid $4 million related to this restructuring reserve and recorded an insignificant amount
of adjustments. At March 31, 2007, $5 million remained related to this reserve, the majority of which relates to
restructured facilities. We expect the remainder of the costs to be paid by the end of fiscal 2018.
Amounts related to restructuring expense are included in Restructuring in the Consolidated Statements of
Income.
Acquisition-related restructuring
In connection with the Veritas acquisition, we assumed a restructuring reserve of $53 million related to the
2002 Veritas facilities restructuring plan. At March 31, 2006, $9 million remained related to this reserve. During
fiscal 2007, we paid $6 million related to this reserve and increased this reserve by an insignificant amount as we
determined that the costs related to certain facilities would be greater than originally accrued. The remaining
reserve amount of $4 million will be paid over the remaining lease terms, ending at various dates through 2015. The
majority of costs are currently scheduled to be paid by the end of fiscal 2012.
In connection with the Veritas acquisition, we recorded $7 million of restructuring costs, of which $2 million
related to excess facilities costs and $5 million related to severance, associated benefits, and outplacement services.
These restructuring costs reflect the termination of redundant employees and the consolidation of certain facilities
as a result of the Veritas acquisition. At March 31, 2007, an insignificant amount remained related to this reserve. At
March 31, 2006, $3 million remained related to this reserve. During fiscal 2007, we paid an insignificant amount
related to this reserve and reduced this reserve by $2 million as we determined that the costs related to certain
facilities would be less than originally accrued. We expect the remainder of the costs to be paid by the end of fiscal
2008.
In connection with our other acquisitions in fiscal 2006, we recorded $12 million of restructuring costs, of
which $8 million related to severance, associated benefits, and outplacement services and $4 million related to
excess facilities costs. These restructuring costs reflect the termination of redundant employees and the consol-
idation of certain facilities as a result of our other acquisitions. At March 31, 2006, $9 million remained related to
this reserve. At March 31, 2007, an insignificant amount remained related to this reserve. During fiscal 2007, we
paid $5 million related to this reserve and reduced this reserve by an insignificant amount as we determined that the
costs related to certain facilities would be less than originally accrued. We expect the remainder of the costs to be
paid by the end of fiscal 2012.
Amounts related to acquisition-related restructuring are reflected in the purchase price allocation of the
applicable acquisition.
106
SYMANTEC CORPORATION
Notes to Consolidated Financial Statements — (Continued)