Symantec 2008 Annual Report Download - page 175

We provide limited product warranties and the majority of our software license agreements contain provisions
that indemnify licensees of our software from damages and costs resulting from claims alleging that our software
infringes the intellectual property rights of a third party. Historically, payments made under these provisions have
been immaterial. We monitor the conditions that are subject to indemnification to identify if a loss has occurred.
Note 12. Stock Transactions
Stock repurchases
We have operated stock repurchase programs since 2001. On January 24, 2007, our Board of Directors
authorized the repurchase of $1 billion of Symantec common stock. As of March 30, 2007, $500 million remained
authorized for future purchases. During the three-month period ended June 29, 2007, we repurchased 25 million
shares of our common stock at prices ranging from $19.42 to $20.16 per share which completed the $1 billion share
repurchase program announced in January 2007.
On June 14, 2007, our Board of Directors authorized the repurchase of $2 billion of Symantec common stock,
without a scheduled expiration date. During the period between June 30, 2007 and March 28, 2008, we repurchased
a total of 56 million shares of our common stock at prices ranging from $16.67 to $19.69 per share for an aggregate
amount of $1 billion from the authorized repurchase plan.
As a result of the repurchase activity under both the January 24, 2007 plan and June 14, 2007 plans, during
fiscal 2008, we repurchased a total of 81 million shares of our common stock at prices ranging from $16.67 to
$20.16 per share, for an aggregate amount of $1.5 billion. As of March 28, 2008, $1 billion remained authorized for
future repurchases from the June 14, 2007 plan.
During fiscal 2007, we repurchased 162 million shares of our common stock at prices ranging from $15.61 to
$21.66 per share for an aggregate amount of $2.8 billion.
Increase to authorized shares
On June 24, 2005, our stockholders approved the adoption of our amended and restated certificate of
incorporation, which increased the number of authorized shares of common stock to 3 billion from 1.6 billion. The
increase was sought in order to carry out our acquisition of Veritas.
Note 13. Earnings Per Share
Basic and diluted earnings per share are computed on the basis of the weighted average number of shares of
common stock outstanding during the period. Diluted earnings per share also includes the incremental effect of
dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential
common shares include shares underlying outstanding stock options, stock awards, warrants, and convertible notes.
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Notes to Consolidated Financial Statements — (Continued)