Symantec 2010 Annual Report Download - page 123

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Cash Flows
The following table summarizes, for the periods indicated, selected items in our Consolidated Statements of
Cash Flows:
2010 2009 2008
Fiscal
(In millions)
Net cash provided by (used in)
Operating activities .................................... $1,693 $1,671 $1,819
Investing activities ..................................... (65) (961) (1,526)
Financing activities .................................... (441) (677) (1,066)
Operating Activities
Net cash provided by operating activities was $1.7 billion for fiscal 2010, which resulted from net income of
$714 million adjusted for non-cash items, including depreciation and amortization charges of $837 million and
stock-based compensation expense of $155 million. These amounts were partially offset by a decrease in income
taxes payable of $105 million primarily related to the outcome of the Veritas v. Commissioner Tax Court decision
(see Note 13).
Net cash provided by operating activities was $1.7 billion for fiscal 2009, which resulted from non-cash
charges related to depreciation and amortization expenses of $933 million and the $7.4 billion goodwill impairment
charge offset by the net loss of $6.8 billion.
Net cash provided by operating activities was $1.8 billion for fiscal 2008, which resulted from net income of
$410 million adjusted for non-cash items, including depreciation and amortization charges of $915 million, stock-
based compensation expense of $164 million, income taxes payable of $196 million and an increase in deferred
revenue of $127 million. These amounts were partially offset by a decrease in non-cash deferred income taxes of
$216 million.
Investing Activities
Net cash used in investing activities was $65 million for fiscal 2010 and was primarily due to $248 million paid
for capital expenditures, partially offset by net proceeds from the sale of available-for-sale securities of
$190 million.
Net cash used in investing activities was $1.0 billion for fiscal 2009 and was primarily due to an aggregate
payment of $1.1 billion in cash payments for acquisitions, net of cash acquired, and $272 million paid for capital
expenditures, partially offset by net proceeds of $336 million from the sale of short-term investments which were
used to partially fund acquisitions.
Net cash used in investing activities was $1.5 billion for fiscal 2008 and was primarily due to an aggregate
payment of $1.3 billion in cash paid for acquisitions and the joint venture, net of cash acquired.
Financing Activities
Net cash used in financing activities of $441 million for fiscal 2010 was due to repurchases of common stock of
$553 million, partially offset by net proceeds from sales of common stock through employee stock plans of
$124 million.
Net cash used in financing activities was $677 million for fiscal 2009 and was primarily due to repurchases of
common stock of $700 million and the repayment of $200 million on our revolving credit facility, partially offset by
net proceeds from sales of common stock through employee stock plans of $229 million.
Net cash used in financing activities was $1.1 billion for fiscal 2008 and was primarily due to repurchases of
common stock of $1.5 billion, partially offset by the net proceeds from sales of common stock through employee
stock plans of $224 million and a borrowing on our revolving credit facility of $200 million.
47