Symantec 2009 Annual Report Download - page 147

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•Reduce operating costs, implement management structure changes, optimize the business structure and
discontinue certain products. Charges related to these actions are for severance and benefits. These actions
were initiated in the third quarter of fiscal 2008 and are expected to be completed in fiscal 2010. Total
remaining costs for the 2008 Plan are estimated to range from $15 million to $20 million.
•Outsource certain back office functions worldwide. Charges related to these actions are primarily for
severance and benefits. These actions were initiated in the second quarter of fiscal 2009 and are expected to
be substantially completed in fiscal 2010. Total remaining costs for severance and benefits are expected to
range from $10 million to $35 million.
Prior and Acquisition-Related Restructuring Plans
Prior Restructuring Plans
2007 Restructuring Plan. In fiscal 2007, management approved and initiated the following restructuring
events to reduce operating costs through a worldwide headcount reduction. This action was initiated and
substantially completed in the first quarter of fiscal 2008. Charges related to this action were for severance and
benefits. Total remaining costs are not expected to be material.
Acquisition-Related Restructuring Plans
We review our real estate holdings on an ongoing basis. In this review, we assess underutilized space which has
largely resulted from the integration efforts related to earlier business acquisitions. Restructuring liabilities consist
of excess facilities obligations. These restructuring liabilities at April 3, 2009 primarily related to excess facility
obligations at several locations around the world. Acquisition-related restructuring liabilities are expected to be paid
between fiscal 2010 and fiscal 2016 when their respective lease terms end.
Restructuring Summary
March 28, 2008
Costs,
Net of
Adjustments
(1)
Other
Adjustments
Cash
Payments
April 3,
2009
Cumulative
Incurred
to Date
FY 2009 Restructuring Liability
(In thousands)
2009 Restructuring Plans:
Severance . . . . . . . . . . . . . . . . . . . . . . $ — $39,886 $ — $(36,888) $ 2,998 $ 39,886
2008 Restructuring Plans:
Severance . . . . . . . . . . . . . . . . . . . . . . 16,337 22,706 — (31,518) 7,525 64,331
Prior & Acquisition Restructuring Plans:
Severance . . . . . . . . . . . . . . . . . . . . . . 20 1,184 680 (950) 934 118,892
Facilities . . . . . . . . . . . . . . . . . . . . . . . 14,263 10,830 1,212 (10,412) 15,893 46,983
Total . . . . . . . . . . . . . . . . . . . . . . . . $30,620 $74,606 $1,892 $(79,768) $27,350
Transition, transformation and other costs: . . . . 21,010 21,010
Total Restructuring Charges: . . . . . . . . . . . $95,616
Balance Sheet:
Other current liabilities . . . . . . . . . . . . . . . $24,062 $20,735
Other long-term liabilities . . . . . . . . . . . . . 6,558 6,615
$30,620 $27,350
(1)
Total net adjustments or reversals, which include the effects of foreign currency, for each respective fiscal year
were not material.
87
SYMANTEC CORPORATION
Notes to Consolidated Financial Statements — (Continued)