Symantec 2012 Annual Report Download

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2012 Annual Report
Proxy Statement and Form 10-K

Table of contents

  • Page 1
    2012 Annual Report Proxy Statement and Form 10-K

  • Page 2
    ... those expressed or implied by the forward-looking statements on the basis of several factors, including those that we discuss in our Risk Factors, set forth in Part I, Item 1A, of our annual report on Form 10-K for the fiscal year ended March 30, 2012 and in our Current Report on Form 8-K filed on...

  • Page 3
    ...GAAP revenue totaled $6.73 billion up 6% year-over-year in constant currency • Non-GAAP1 earnings per share were $1.61, up 13% year-over-year as reported • Enterprise subscription sales grew 40% as customers increasingly choose Software-as-a-Service solutions over traditional on-premise licenses...

  • Page 4
    ... to higher value solutions and best-in-class products, winning over 250 awards in the past 2 years. In fiscal 2012, we launched Norton One and Norton 360 Everywhere, our multi-device suites, allowing customers to safely move their information between their PC, Mac, tablet, and mobile device. Our...

  • Page 5
    ..., allowing customers to address both their backup hardware and software needs all from a single trusted vendor. To further extend our intelligent information management businesses, we acquired Clearwell and LiveOffice during fiscal 2012, thereby adding integrated eDiscovery and cloud-based archiving...

  • Page 6
    ... software costs Settlements of litigation Total Operating Income adjustment Net Income Operating Income adjustment Net loss (gain) on legal liquidations of foreign entities Non-cash interest expense Gain on sale of assets Loss on early extinguishment of debt Loss (gain) on sale of marketable...

  • Page 7
    ... and programs. Taking into consideration your feedback and the results of our 2011 "say on pay" vote (98% of votes cast were in favor of our executive compensation practices), we continued to increase our focus on long-term, performance-based compensation. In fiscal 2012, we extended our pay-for...

  • Page 8
    ..., October 23, 2012, at Symantec Corporation's offices located at 350 Ellis Street, Mountain View, California 94043. For your convenience, we are pleased to offer a live and re-playable webcast of the Annual Meeting at www.symantec.com/invest. We are holding the Annual Meeting for the following...

  • Page 9
    ......Contacting the Board of Directors ...Attendance of Board Members at Annual Meetings ...PROPOSAL NO. 1 ELECTION OF DIRECTORS ...Nominees for Director ...Director Compensation ...PROPOSAL NO. 2 RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM ...Principal Accountant Fees...

  • Page 10
    SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT ...Section 16(a) Beneficial Ownership Reporting Compliance ...EXECUTIVE COMPENSATION AND RELATED INFORMATION ...Compensation Discussion & Analysis (CD&A) ...Summary Compensation Table for Fiscal 2012 ...Grants of Plan-Based Awards in ...

  • Page 11
    ...'s offices located at 350 Ellis Street, Mountain View, California 94043 A live and re-playable webcast of the annual meeting is available on our Investor Relations website at www.symantec.com/invest August 24, 2012 VOTING MATTERS Board Recommendation Page Number for Additional Information...

  • Page 12
    ...: Component Base Salary Annual Incentive Award Long-term Incentive Plan (LTIP) Restricted Stock Units Performance-based Restricted Stock Units (PRUs) Key Characteristics Based on positioning relative to market, individual role, performance and contribution levels. Our executive officers are eligible...

  • Page 13
    ... accompanying proxy is solicited on behalf of Symantec Corporation's Board of Directors (the "Board") for use at Symantec's 2012 Annual Meeting of Stockholders (the "Annual Meeting") to be held at Symantec's offices located at 350 Ellis Street, Mountain View, California 94043 on Tuesday, October 23...

  • Page 14
    ... the Annual Meeting, we urge you to vote over the Internet or by telephone, or if you received paper proxy materials by mail, by filling out and returning the proxy card. Beneficial Owner: Shares Registered in the Name of a Broker or Nominee If on August 24, 2012, your shares were held in an account...

  • Page 15
    ... of elections appointed for the meeting. Who is paying for this proxy solicitation? Symantec is paying the costs of the solicitation of proxies. We have retained Georgeson Inc. to help us solicit proxies from brokers, bank nominees and other institutions for a fee of $8,500, plus reasonable out...

  • Page 16
    ... announced at the Annual Meeting and posted on our website at www.symantec.com/invest. The final results will be tallied by the inspector of elections and filed with the U.S. Securities and Exchange Commission (SEC) in a current report on Form 8-K within four business days of the Annual Meeting. 6

  • Page 17
    ... Conduct and Code of Ethics for Chief Executive Officer and Senior Financial Officers pertaining to a member of our Board or one of our executive officers will be disclosed on our website at the above-referenced address. Majority Vote Standard and Director Resignation Policy Our Bylaws and Corporate...

  • Page 18
    ...our CEO, the individual with primary responsibility for managing the Company's day-to-day operations, chair regular Board meetings as our Board discusses key business and strategic issues. Our Lead Independent Director chairs regular executive sessions of the independent members of the Board without...

  • Page 19
    ...operations and performance is conducted annually by the Nominating and Governance Committee. Changes are recommended by the Nominating and Governance Committee for approval by the full Board as appropriate. Board's Role in Risk Oversight The Board executes its risk management responsibility directly...

  • Page 20
    ...the Chief Executive Officer's performance and compensation. Executive sessions of the Board are led by the Lead Independent Director. Succession Planning Our Board recognizes the importance of effective executive leadership to Symantec's success, and meets to discuss executive succession planning at...

  • Page 21
    ... by the Board and available on our website at www.symantec.com/invest, by clicking on "Company Charters," under "Investor Resources." The following table shows our current directors, their independence status, their roles on the Board and its committees, and the number of meetings the Board and each...

  • Page 22
    ... in the market for executive talent, analyzed existing Symantec executive compensation arrangements, and was available to the Compensation Committee to provide technical and other information it requested in connection with performing its function throughout the fiscal year 2012. Mercer's role...

  • Page 23
    ... execution of important operational and policy issues at a senior level. ‰ Public Company Board Experience. Directors who have served on other public company boards can offer advice and insights with regard to the dynamics and operation of a board of directors; the relations of a board to the CEO...

  • Page 24
    ... Information - Stockholder Proposals for the 2013 Annual Meeting." Contacting the Board of Directors Any stockholder who wishes to contact members of our Board may do so by mailing written communications to: Symantec Corporation 350 Ellis Street Mountain View, California 94043 Attn: Corporate...

  • Page 25
    ... and Chief Executive Officer 53 Chairman of the Board, Line 6, Inc. 54 Managing Partner, Harcourt 36 Executive Vice President and President, Best Buy Digital, Global Marketing and Strategy, Best Buy Co., Inc. 65 Chairman of the Board, Alloy, Inc. 58 Director 70 Chief Executive Officer, Hawker...

  • Page 26
    ... Experience - Managing Partner of Harcourt, Chairman of Atari, former Chairman and Chief Executive Officer of Thomson S.A., Deputy CEO of France Telecom, Chairman of SG Warburg France and Managing Director of SG Warburg & Co. Ltd. ‰ Public Company Board Experience - current member of the boards of...

  • Page 27
    ... San Francisco State University. Director Qualifications: ‰ Industry and Technology Expertise - currently Executive Vice President and President of Best Buy Digital, Global Marketing and Strategy of Best Buy Co., Inc.; former Executive Vice President, Digital Ventures and Chief Information Officer...

  • Page 28
    ... Mid Ocean Partners; former Chairman and Chief Executive Officer of Delphi Corporation; former Chairman and Chief Executive Officer of Federal Mogul Corporation; and former Chairman and Chief Executive Officer of Bethlehem Steel Corporation. ‰ Public Company Board Experience - currently serves on...

  • Page 29
    ...Enterprise Group of American Express, former President, Prepaid Group of Sprint Nextel Corporation, former Chief Executive Officer of Virgin Mobile USA and former Chief Executive Officer and Chief Operating Officer of priceline.com. ‰ Public Company Board Experience - currently serves on the board...

  • Page 30
    ... √ √ √ The following table provides information for fiscal year 2012 compensation for all of our non-employee directors: Fiscal Year 2012 Director Compensation Fees Earned or Paid in Cash ($)(1)(2) Stock Awards ($)(3)(4) Option Awards ($)(5) Total ($) Name Stephen M. Bennett(6) ...Michael...

  • Page 31
    ...received an additional annual fee in the amount of $30,000 for his role as Lead Independent Director. The policy of the Board is that compensation for independent directors should be a mix of cash and equitybased compensation. Symantec does not pay employee directors for Board service in addition to...

  • Page 32
    ... and restricted stock unit awards made to non-employee directors under the programs described above will accelerate and vest in full. Symantec stock ownership information for each of our directors is shown under the heading "Security Ownership of Certain Beneficial Owners and Management" on page 32...

  • Page 33
    ...KPMG's independence from Symantec. The aggregate fees billed for fiscal years 2012 and 2011 for each of the following categories of services are as follows: Fees Billed to Symantec 2012 2011 Audit fees(1) ...Audit related fees(2) ...Tax fees(3) ...All other fees(4) ...Total fees ... $ 9,240,888 802...

  • Page 34
    ...independent registered public accounting firm and management are required to periodically report to the Audit Committee regarding the extent of services provided by the independent registered public accounting firm in accordance with this pre-approval, and the fees for the services performed to date...

  • Page 35
    ... 89% of the target total direct compensation for our other named executive officers was at risk. ‰ In fiscal 2012, we granted performance-based restricted stock units to our named executive officers in lieu of stock option grants. Our performance-based restricted units program uses non-GAAP EPS...

  • Page 36
    ...the name, address and, to Symantec's knowledge, the number of voting securities held by the proponent of the stockholder proposal, upon receiving a written or oral request directed to: Symantec Corporation, Attn: Scott C. Taylor, Corporate Secretary, 350 Ellis Street, Mountain View, California 94043...

  • Page 37
    ... in April 2012, we increased the minimum levels our executive officers are expected to hold so that our chief executive officer is now required to hold five times (5x) his base salary in Symantec shares. Mr. Salem, our former CEO, had a requirement to hold $4,000,000 worth of Symantec shares, and he...

  • Page 38
    ... 2011 Annual Meeting of Stockholders, with members receiving between 99.1% to 82.5% of the votes cast. For these reasons, the Board believes that our existing stock ownership requirements and other compensation programs and policies effectively facilitate significant stock ownership by our executive...

  • Page 39
    ... of Symantec's existing equity compensation plans as of March 30, 2012: Equity Compensation Plan Information Number of Securities Number of Securities Remaining Available for to be Issued Upon Weighted-Average Future Issuance Under Exercise of Exercise Price of Equity Compensation Plans Outstanding...

  • Page 40
    ... and Chief Accounting Officer Group President, Enterprise Products & Services Executive Vice President and Chief Human Resources Officer Executive Vice President, Worldwide Sales & Services Executive Vice President, General Counsel and Secretary Group President, SMB and Symantec.cloud The Board...

  • Page 41
    ...an enterprise instant messaging software company, that was acquired by Symantec. From February 1998 to February 2001, Mr. deSouza served as Product Unit Manager, Real-time Collaboration Group at Microsoft Corporation and from March 1997 to February 1998, he was co-founder and Chief Executive Officer...

  • Page 42
    ... power over the shares. This stockholder's address is 555 California Street, 40th Floor, San Francisco, CA 94104. (2) Based solely on a Schedule 13G filing made by BlackRock, Inc. on February 10, 2012, reporting sole voting and dispositive power over the shares. This stockholder's address is 40 East...

  • Page 43
    ...as of September 21, 2012. Symantec has adopted a policy that executive officers and members of the Board hold an equity stake in the Company. The policy requires each executive officer to hold a minimum number of shares of Symantec common stock. Newly appointed executive officers are not required to...

  • Page 44
    ... any given executive officer). ‰ We now grant performance-based restricted stock units to our named executive officers in lieu of stock option grants as a regular part of our annual executive compensation program, and, in light of our stockholders' support of our pay-for-performance philosophy, we...

  • Page 45
    ...in our backup business, Software-as-a Service (SaaS), data loss prevention, and managed security services offerings. Our cash flow from operations remained strong, increasing 6% compared to fiscal 2011 while our cash and cash equivalents (including short-term investments) grew 9% year-over-year. Our...

  • Page 46
    ... quarter of fiscal 2013 and his compensation should be based on performance during his time as President and Chief Executive Officer since his ability to influence the Company's performance in fiscal 2013 was materially limited by starting his employment at the end of July 2012. Since Mr. Bennett...

  • Page 47
    ... Chair and the Chief Human Resources Officer and also with the Compensation Committee during its regular meetings, including in executive sessions from time to time without any members of management present. As part of its engagement in fiscal 2012, Mercer provided, among other services, advice and...

  • Page 48
    ... our CEO, business unit performance. Long-term results are measured by share price appreciation, and achievement of operating cash flow targets. With the introduction of performance-based restricted stock units as a regular part of our annual executive compensation program beginning with fiscal 2012...

  • Page 49
    ... Arts Juniper Networks Oracle Yahoo! Appropriate Pay Mix: Consistent with our pay-for-performance philosophy, our executive officers' compensation is structured with a large portion of their total direct compensation paid based on the performance of our company and the applicable business unit. In...

  • Page 50
    ...-based and promotional restricted stock units granted to the named executive officers other than our former CEO. As illustrated by the following charts, for fiscal 2012, approximately 91% of our former CEO's target total direct compensation (sum of base salary, target annual incentive, target cash...

  • Page 51
    ... of market pay assessments and the Board's annual CEO performance evaluation, in each case without the participation of our CEO. In setting the base salaries for the other named executive officers, the Compensation Committee also considers the recommendations of the CEO based upon his annual review...

  • Page 52
    ... the Compensation Committee recognized was well below the median levels of our peer group and the broader survey peer group data. Prior to this and the increase from fiscal 2010 to fiscal 2011, our former CEO's base salary had remained the same since he was promoted to Chief Operating Officer in...

  • Page 53
    ...new compensation market positioning strategy to target market 65th percentile level for short- and long-term incentives and total direct compensation. The promotion to Group President also contributed to the increase in the applicable target award percentage under the Executive Annual Incentive Plan...

  • Page 54
    ...within our company. Each business unit sets its objectives in the following four areas and results are monitored quarterly: ‰ Business Results ‰ Customer and Partner Loyalty ‰ Operational Excellence ‰ Employee Engagement The CEO evaluates the performance level of each named executive officer...

  • Page 55
    ... In April 2011, the Compensation Committee approved our LTIP for fiscal 2012. Under the terms of this plan, named executive officers are eligible to receive performance-based compensation based upon the level of attainment of target operating cash flow for the fiscal year ending March 30, 2012. The...

  • Page 56
    ... executive officers who remain our employees as of the end of fiscal 2014. This level of achievement against target compares to our reported increase in cash flow from operations of approximately 6% from fiscal 2011 to fiscal 2012. Our NEOs' fiscal 2012 LTIP target awards, actual awards and total...

  • Page 57
    ... our trading price does not appreciate, which supports continuity in the senior management team. Shares of our stock are issued to RSU holders as the awards vest. The vesting schedule for RSUs granted to our named executive officers in fiscal 2012 provided that each award vests in four equal annual...

  • Page 58
    ... to fiscal 2011, reflecting our pay position strategy shift in fiscal 2012 to target the 65th percentile of the relevant market data for long-term incentive compensation and total direct compensation, and the promotional and retention-based RSU grants described above. Notwithstanding these increases...

  • Page 59
    ... grant date value of the promotional awards for Messrs. deSouza and Trollope, in each case taking into account their increased role and responsibilities and based on Mercer's competitive market data. (Details of equity grants made to the named executive officers in fiscal 2012 are disclosed...

  • Page 60
    ... the risk that key talent would leave our company before a transaction closes. Following the end of fiscal 2012, the Compensation Committee conducted an ordinary course review of the change in control and severance arrangements applicable to our executive officers. Taking into account consolidation...

  • Page 61
    ... to increase the minimum levels our executive officers are expected to hold starting in fiscal 2013: ‰ CEO: 5x base salary ‰ CFO: 3x base salary ‰ Group Presidents and Executive Vice Presidents: 2x base salary Stock options and unvested restricted stock awards or performance-based restricted...

  • Page 62
    ... limited to, trading in Symantec-based option contracts (for example, buying and/or writing puts and calls). In addition, our Insider Trading Policy requires that our Chief Executive Officer, Chief Financial Officer, and each of our directors conduct open market sales of our securities only through...

  • Page 63
    ... or more executive officers who served on our Board of Directors or Compensation Committee during fiscal 2012. Compensation Committee Report The information contained in the following report of Symantec's Compensation Committee is not considered to be "soliciting material," "filed" or incorporated...

  • Page 64
    ...Incentive Plan. We calculate the grant date fair value of stock options using the Black-Scholes option pricing model. The following table includes the assumptions used to calculate the aggregate grant date fair value of awards reported for fiscal 2011 and 2010. We do not currently pay cash dividends...

  • Page 65
    ... membership fees, (c) $2,400 for reimbursement for tax services, and (d) $6,250 for the Company's contributions to Mr. Beer's account under its 401(k) plan. (14) This amount represents (a) $285,120 for Mr. Beer's executive annual bonus under his Executive Annual Incentive Plan for fiscal 2010, which...

  • Page 66
    ... Chief Executive Officer effective July 25, 2012. In August 2012, the Board approved Mr. Bennett's compensation for his role as our President and Chief Executive Officer for the remainder of fiscal 2013, and we entered into an employment agreement with Mr. Bennett. Mr. Bennett's annual base salary...

  • Page 67
    ... named executive officers from our incentive plans: Grants of Plan-Based Awards in Fiscal 2012 All Other Grant All Other Option Date Stock Awards: Fair Awards: Number Value Estimated Future Payouts Number of Exercise or of Stock Under Equity Incentive of Shares Securities Base Price and Plan Awards...

  • Page 68
    ... March 30, 2012, certain information regarding outstanding equity awards at fiscal year end for our named executive officers. Outstanding Equity Awards At Fiscal Year-End 2012 Option Awards Stock Awards Equity Incentive Plan Awards: Number of Unearned Shares, Market Value Units or of Shares Other or...

  • Page 69
    ... the Company, effective July 24, 2012. †In June 2011, each NEO was awarded a PRU under the 2004 Stock Incentive Plan, subject to achievement of the same non-GAAP EPS metric for our FY12 Executive Annual Incentive Plan during fiscal 2012 and other performance goals for subsequent fiscal years. The...

  • Page 70
    ... year of the performance period. In April 2012, the Compensation Committee revised the plan to provide for the payment of a cash severance benefit for our named executive officers equal to one times such officer's base salary and target payout under the Executive Annual Incentive Plan applicable...

  • Page 71
    ... or her continuation coverage. Payment of severance payments, one-time bonus payment and outplacement services pursuant to the Symantec Executive Severance Plan is subject to the applicable executive officer returning a release of claims against Symantec. Long Term Incentive Plan Participants under...

  • Page 72
    ... Symantec Executive Retention Plan (as in effect at the end of fiscal 2012), assuming a qualifying termination as of March 30, 2012 (intrinsic values of equity awards are based upon the closing price for a share of our common stock of $18.70 on March 30, 2012 minus the exercise price): Severance Pay...

  • Page 73
    ...equity awards are based upon the closing price for a share of our common stock of $18.70 on March 30, 2012 minus the exercise price): Severance COBRA Pay Premiums Option Vesting RSU Vesting PRU Vesting Acceleration of LTIP Involuntary Termination Because of Market Conditions or Division Performance...

  • Page 74
    ...equity awards are based upon the closing price for a share of our common stock of $18.70 on March 30, 2012 minus the exercise price): Severance COBRA Pay Premiums Option Vesting RSU Vesting PRU Vesting Acceleration of LTIP Involuntary Termination Because of Market Conditions or Division Performance...

  • Page 75
    ...related person is any Symantec executive officer, director, nominee for director, or stockholder holding more than 5% of any class of Symantec's voting securities, in each case, since the beginning of the previous fiscal year, and their immediate family members. Under the policy, absent any facts or...

  • Page 76
    ...650 per flight hour. Pursuant to an agreement with an unrelated party, Symantec has also agreed to pay the variable operating costs of Messrs. Thompson's and Salem's business travel on this aircraft. The arrangement was approved by the Nominating and Governance Committee of our Board. The Nominating...

  • Page 77
    .... The Audit Committee also received the report of management contained in Symantec's Annual Report on Form 10-K for the fiscal year ended March 30, 2012, as well as KPMG's Report of Independent Registered Public Accounting Firm included in Symantec's Annual Report on Form 10-K related to its...

  • Page 78
    ... receive a separate copy of the Notice of Internet Availability and, if applicable, annual report and other proxy materials, you may write or call Symantec's Investor Relations department at 350 Ellis Street, Mountain View, California 94043, Attn: Investor Relations, telephone number (650) 527-5523...

  • Page 79
    ...of Internet Availability or annual report and other proxy materials who wish to receive only one copy in the future can contact their bank, broker or other holder of record to request information about householding or Symantec's Investor Relations department at the address or telephone number listed...

  • Page 80
    ...350 Ellis Street, Mountain View, California (Address of principal executive offices) 94043 (zip code) Registrant's telephone number, including area code: (650) 527-8000 Securities registered pursuant to Section 12(b) of the Act: Common Stock, par value $0.01 per share The Nasdaq Stock Market LLC...

  • Page 81
    ..., Executive Officers and Corporate Governance ...Executive Compensation ...Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters ...Certain Relationships and Related Transactions, and Director Independence ...Principal Accounting Fees and Services ... 26...

  • Page 82
    ... after the date of this report. These forward-looking statements involve risks and uncertainties, and our actual results, performance, or achievements could differ materially from those expressed or implied by the forward-looking statements on the basis of several factors, including those that we...

  • Page 83
    ... our principal executive offices are located at 350 Ellis Street, Mountain View, California, 94043. Our telephone number at that location is (650) 527-8000. Our Internet home page is www.symantec.com. Other than the information expressly set forth in this annual report, the information contained or...

  • Page 84
    ... During fiscal 2012, we took the following actions in support of our business strategy: • We released new solutions for mobile management to extend native controls to activate, secure, and manage Apple iOS devices. We shipped data loss prevention ("DLP") for Tablets to extend DLP software to new...

  • Page 85
    ... and tablets, as well as related services such as online backup, family safety, and PC tune-up. We continue to acquire customers through a diversified channel strategy. We retain and leverage our large customer base through auto-renewal subscriptions, seek to up-sell customers from point products to...

  • Page 86
    ... the true identity of a device, system, or application and using Secure Socket Layer ("SSL") to encrypt data in transit. Products include: Endpoint Protection for enterprise and small business, Protection Suites, Mail and Web Security, and Trust Services. Information and Identity Protection We help...

  • Page 87
    ..., Cluster Server, Operations Manager, ApplicationHA, Data Insight, and VirtualStore. Services We deliver business critical, consulting and education services. Symantec Services help customers address information security, availability, storage, and compliance challenges at the endpoint and in...

  • Page 88
    ...and market our products and related services to enterprise customers through our direct sales force of more than 4,500 sales employees and through a variety of indirect sales channels, which include value-added resellers, managed service providers, large account resellers, and system integrators. We...

  • Page 89
    ... downloads of the latest virus definitions, application bug fixes, and patches for most of our consumer products. Our standard consumer support program provides self-help online services and phone, chat, and email support to consumers worldwide. Our Norton One membership features elite-level support...

  • Page 90
    ... solutions and functions in their current and future products. We also compete for access to retail distribution channels and for spending at the retail level and in corporate accounts. In addition, we compete with other software companies, operating system providers, network equipment manufacturers...

  • Page 91
    ... and corporate partners and we enter into license agreements with respect to our software, documentation, and other proprietary information. These license agreements are generally non-transferable and have a perpetual term. We also educate our employees on trade secret protection and employ measures...

  • Page 92
    ...operating systems and hardware products, such as mobile devices • Entering into new or unproven markets with which we have limited experience, including the delivery of solutions in an appliance form factor • Managing new product and service strategies, including integrating our various security...

  • Page 93
    ..., computer hardware manufacturers, large operating system providers and other technology companies. These firms are increasingly developing and incorporating into their products data protection and storage and server management software that competes at some levels with our product offerings...

  • Page 94
    ... in unanticipated service interruptions, which could harm our reputation and our business. Since our customers use our SaaS offerings for mission-critical protection from threats to electronic information, endpoint devices, and computer networks, any errors, defects, disruptions in service or other...

  • Page 95
    .... In addition, the cost and operational consequences of implementing further security measures could be significant. If we fail to manage our sales and distribution channels effectively or if our partners choose not to market and sell our products to their customers, our operating results could be...

  • Page 96
    ... with respect to hardware and software providers OEM Sales Channels. A significant portion of our revenues is derived from sales through our OEM partners that incorporate our products into, or bundle our products with, their products. Our reliance on this sales channel involves many risks, including...

  • Page 97
    ...high unemployment, current or potential customers may delay or forgo decisions to license new products or additional instances of existing products, upgrade their existing hardware or operating environments (which upgrades are often a catalyst for new purchases of our software), or purchase services...

  • Page 98
    ... operating results, and require increased time and attention of our management. We derive a substantial portion of our revenues from customers located outside of the U.S. and we have significant operations outside of the U.S., including engineering, sales, customer support, and production. We plan...

  • Page 99
    ...our capital and other resources and could cause interruptions, delays, or cessation of our product licensing, which could cause us to lose existing or potential customers and could adversely affect our operating results. If we do not protect our proprietary information and prevent third parties from...

  • Page 100
    ...by copying functionality, which could adversely affect our revenue, operating margins, results of operations and cash flows, as well as our reputation. Unauthorized disclosure of the source code also could increase the security risks described under "Our software products, SaaS Offerings and website...

  • Page 101
    ...our products and services • Political and military instability, which could slow spending within our target markets, delay sales cycles, and otherwise adversely affect our ability to generate revenues and operate effectively • Budgetary constraints of customers, which are influenced by corporate...

  • Page 102
    ... use in our products. In addition, many of the risks associated with usage of open source cannot be eliminated, and could, if not properly addressed, negatively affect our business. If we are unable to adequately address increased customer demands on our technical support services, our relationships...

  • Page 103
    ...new and enhanced products and services, effectively manage or expand our business, or increase our revenues. Our future success depends upon our ability to recruit and retain key management, technical, sales, marketing, finance, and other personnel. Our officers and other key personnel are employees...

  • Page 104
    ...may continue to fluctuate in the future, and as a result you could lose the value of your investment. The market price of our common stock may be affected by a number of factors, including: • Announcements of quarterly operating results and revenue and earnings forecasts by us that fail to meet or...

  • Page 105
    ... of owned and leased office facilities for sales, research and development, administrative, customer service, and technical support personnel. Our corporate headquarters is located in Mountain View, California where we occupy facilities totaling approximately 1,141,000 square feet, of which 723...

  • Page 106
    ... Under the Plans or Programs Total Number of Shares Purchased Total Number of Shares Average Price Purchased Under Publicly Paid Per Share Announced Plans or Programs (In millions, except per share data) December 31, 2011 to January 27, 2012 ...January 28, 2012 to February 24, 2012 ...February 25...

  • Page 107
    ... below are based on historical data and are not intended to forecast the possible future performance of Symantec common stock. COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN Among Symantec Corporation, The S & P 500 Index And The S & P Information Technology Index 150 Symantec Corporation S&P 500 125...

  • Page 108
    ...this annual report since their respective dates of acquisition. Five-Year Summary Fiscal (a, b) 2011 2010 2009 (In millions, except per share data) 2012 2008 Consolidated Statements of Income Data: Net revenue ...Operating income (loss)(c) ...Net income (loss) attributable to Symantec Corporation...

  • Page 109
    ... 2, 2010. Fiscal 2012, 2011, and 2010 each consisted of 52 weeks. Our 2013 fiscal year will consist of 52 weeks and will end on March 29, 2013. Our operating segments Our operating segments are significant strategic business units that offer different products and services, distinguished by customer...

  • Page 110
    ... subscription period. We recognized fewer license sales during the fourth quarter of fiscal 2012, which are generally recognized upon delivery of the product. Our operating expenses increased for fiscal 2012 as compared to fiscal 2011 by $304 million, due to an increase in the compensation expenses...

  • Page 111
    ... that include multiple elements, including perpetual software licenses and maintenance or services, packaged products with content updates, managed security services, and subscriptions, we allocate and defer revenue for the undelivered items based on vendor specific objective evidence ("VSOE...

  • Page 112
    ... first day of the fourth quarter of each fiscal year, and on an interim basis whenever events or changes in circumstances indicate that the carrying value may not be recoverable, at the reporting unit level. Our reporting units are the same as our operating segments. Before performing the goodwill...

  • Page 113
    ...the carrying value of our assets relative to our market capitalization and to the valuation of publicly traded companies operating in the same or similar lines of business. Applying the income approach requires that we make a number of important estimates and assumptions. We estimate the future cash...

  • Page 114
    ... on long-lived assets held for sale when we determine that the carrying value of the longlived assets may not be recoverable. In determining fair value, we obtain and consider market value appraisal information from third parties. Stock-based compensation We account for stock-based compensation in...

  • Page 115
    ...at the end of a three-year performance period as follows: (1) our achievement of an annual target earnings per share for the first fiscal year of grant and (2) our two and three year cumulative relative total shareholder return ranked against that of other companies that are included in the Standard...

  • Page 116
    ... million, and Storage and Server Management segment of $131 million, offset by a decrease in our Services segment of $41 million. Content, subscription, and maintenance revenue increased for fiscal 2011, as compared to fiscal 2010, due to growth in revenue from our Security and Compliance segment of...

  • Page 117
    ... from our electronic channel sales, which are derived from online sales (including new subscriptions, renewals and upgrades). Consumer revenue increased for fiscal 2011, as compared to fiscal 2010, primarily due to an increase in sales of our premium internet and security products of $91 million...

  • Page 118
    ... by lower sales of our storage management products of $67 million. The total increase included an unfavorable foreign currency exchange effect of $33 million. Storage and Server Management operating income decreased for fiscal 2012, as compared to fiscal 2011, primarily due to higher salaries and...

  • Page 119
    ... cost of revenue and salaries and wages as we transitioned certain consulting services to our partner led consulting program. Services revenue and operating income decreased for fiscal 2011, as compared to fiscal 2010, due to our focus on our core software business. Other segment Fiscal 2012 2012...

  • Page 120
    ... Fiscal 2012 2012 vs. 2011 $ % 2011 vs. 2010 Fiscal 2011 $ % ($ in millions) Fiscal 2010 Americas (U.S., Canada and Latin America) Consumer Segment ...Security and Compliance Segment ...Storage and Server Management Segment ...Services Segment ...Total Americas ...Percentage of total net revenue...

  • Page 121
    ... of fee-based technical support costs, costs of billable services, and payments to OEMs under revenue-sharing agreements. Cost of content, subscription, and maintenance increased for fiscal 2012, as compared to fiscal 2011, primarily due to higher royalty and fee-based technical support costs, which...

  • Page 122
    ... Sales and marketing expense increased for fiscal 2012, as compared to fiscal 2011, primarily due to increased compensation expenses of $140 million. The increase from compensation expenses was mainly due to increased headcount to support the growth of our business. The total increase in sales and...

  • Page 123
    ... as held for sale to be measured at the lower of its carrying amount or fair value, less cost to sell. Also, in fiscal 2010, we sold assets for $42 million which resulted in losses of $10 million. Non-operating income (expense) Fiscal 2012 2012 vs. 2011 $ % Fiscal 2011 ($ in millions) 2011 vs. 2010...

  • Page 124
    ..., and research and development credits (the U.S. federal R&D tax credit expired on December 31, 2011), partially offset by state income taxes. Pretax income from international operations increased significantly due to the sale of our 49% ownership interest in the joint venture to Huawei on March 30...

  • Page 125
    ...jurisdictions. Loss attributable to noncontrolling interest In fiscal 2011, we completed the acquisition of the identity and authentication business of VeriSign, Inc. ("VeriSign"), including a controlling interest in its subsidiary VeriSign Japan K.K. ("VeriSign Japan"), a publicly traded company on...

  • Page 126
    ...million, and $553 million during fiscal 2012, 2011, and 2010, respectively. As of March 30, 2012, we had $984 million remaining under the plan authorized for future repurchases. U.S. tax: As of March 30, 2012, $2.4 billion in cash, cash equivalents, and marketable securities were held by our foreign...

  • Page 127
    ... 2012, which resulted from net income of $1.2 billion adjusted for non-cash items, which largely included depreciation and amortization charges of $712 million, stock-based compensation expense of $164 million, an increase in deferred revenue of $177 million, an increase in trade accounts receivable...

  • Page 128
    ... estimated fair value of these indemnification agreements in excess of applicable insurance coverage is minimal. 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...

  • Page 129
    ... for trading or speculative purposes. Interest rate risk As of March 30, 2012, we had $1.1 billion in principal amount of fixed-rate Senior Notes outstanding, with a carrying amount of $1.1 billion and a fair value of $1.13 billion, which fair value is based on Level 2 inputs of market prices for...

  • Page 130
    ..., open contracts are marked-to-market with unrealized gains and losses included in Other (expense) income, net. The following table presents a sensitivity analysis on our foreign forward exchange contract portfolio using a statistical model to estimate the potential gain or loss in fair value that...

  • Page 131
    ... financial data Mar. 30, 2012(a) Fiscal 2012 Dec. 30, Sep. 30, 2011 2011 Fiscal 2011 Jul. 1, Apr. 1, Dec. 31, Oct. 1, 2011 2011 2010 2010 (Unaudited) (In millions, except per share data) Jul. 2, 2010 Net revenue ...Gross profit ...Operating income ...Net income ...Less: Income (loss) attributable...

  • Page 132
    ... of the Exchange Act) for Symantec. Our management, with the participation of our Chief Executive Officer and our Chief Financial Officer, has conducted an evaluation of the effectiveness of our internal control over financial reporting as of March 30, 2012, based on criteria established in Internal...

  • Page 133
    ...controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within our Company have been detected. Item 9B. None Other Information 54

  • Page 134
    .... Executive Compensation The information required by this item will be included in an amendment to this annual report on Form 10-K or incorporated by reference from Symantec's definitive proxy statement to be filed pursuant to Regulation 14A. Item 12. Security Ownership of Certain Beneficial Owners...

  • Page 135
    ... sent to: Symantec Corporation Attn: Investor Relations 350 Ellis Street Mountain View, California 94043 650-527-8000 The following documents are filed as part of this report: Page Number 1. Consolidated Financial Statements: Reports of Independent Registered Public Accounting Firm ...Consolidated...

  • Page 136
    ... annual report as applicable: EXHIBIT INDEX Exhibit Number Exhibit Description Form Incorporated by Reference File No. Exhibit Filing Date Filed Herewith 3.01 3.02 3.03 3.04 3.05 4.01 4.02 4.03 4.04 4.05 Amended and Restated Certificate of S-8 333-119872 Incorporation of Symantec Corporation...

  • Page 137
    ... into prior to January 17, 2006) Form of Indemnification Agreement for Officers, Directors and Key Employees Veritas Software Corporation 1993 Equity Incentive Plan, including form of Stock Option Agreement Symantec Corporation 1996 Equity Incentive Plan, as amended, including form of Stock Option...

  • Page 138
    ... W. Thompson Employment Agreement, dated September 23, 2009, between Symantec Corporation and Enrique Salem FY11 Long Term Incentive Plan FY12 Long Term Incentive Plan Form of FY12 Executive Annual Incentive Plan - Chief Executive Officer Form of FY12 Executive Annual Incentive Plan - Executive Vice...

  • Page 139
    ... License Agreement, dated August 9, 2010, by and between VeriSign, Inc. and Symantec Corporation Subsidiaries of Symantec Corporation Consent of Independent Registered Public Accounting Firm Power of Attorney (see Signature page to this annual report) Certification of Chief Executive Officer...

  • Page 140
    ... FINANCIAL STATEMENTS Page Reports of Independent Registered Public Accounting Firm ...Consolidated Balance Sheets as of March 30, 2012 and April 1, 2011 ...Consolidated Statements of Income for the years ended March 30, 2012, April 1, 2011 and April 2, 2010 ...Consolidated Statements of...

  • Page 141
    ... financial position of Symantec Corporation and subsidiaries as of March 30, 2012 and April 1, 2011, and the results of their operations and their cash flows for each of the years in the three-year period ended March 30, 2012, in conformity with U.S. generally accepted accounting principles. Also in...

  • Page 142
    ... total net revenue for the fiscal year ended March 30, 2012. Our audit of internal control over financial reporting of Symantec Corporation also excluded an evaluation of the internal control over financial reporting of Clearwell and LiveOffice. /s/ KPMG LLP Santa Clara, California May 21, 2012...

  • Page 143
    SYMANTEC CORPORATION CONSOLIDATED BALANCE SHEETS March 30, April 1, 2012 2011 (In millions, except par value) ASSETS Current assets: Cash and cash equivalents ...Short-term investments ...Trade accounts receivable, net ...Inventories ...Deferred income taxes ...Other current assets ...Total current...

  • Page 144
    ...2, 2012 2011 2010 (In millions, except per share data) Net revenue: Content, subscription, and maintenance ...License ...Total net revenue ...Cost of revenue: Content, subscription, and maintenance ...License ...Amortization of intangible assets ...Total cost of revenue ...Gross profit ...Operating...

  • Page 145
    ... 2012, APRIL 1, 2011 AND APRIL 2, 2010 Total Accumulated Symantec NonOther Accumulated Corporation controlling Total...released, net of taxes ...5 - (28) - - (28) - (28) Stock-based compensation, net of estimated forfeitures ...5 - 146 - - 146 - 146 Noncontrolling interest in subsidiary 84 84 Dividend...

  • Page 146
    SYMANTEC CORPORATION CONSOLIDATED STATEMENTS OF CASH FLOWS Year Ended March 30, April 1, April 2, 2012 2011 2010* (In millions) OPERATING ACTIVITIES: Net income ...Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization ...Amortization of ...

  • Page 147
    ... and "the Company" refer to Symantec Corporation and all of its subsidiaries) is a global provider of security, storage, and systems management solutions that help organizations and consumers secure and manage their information-driven world. Our software and services protect against advanced threats...

  • Page 148
    ... include multiple elements, including perpetual software licenses, maintenance, services, and packaged products with content updates, managed security services, and subscriptions, we allocate and defer revenue for the undelivered items based on VSOE of the fair value of the undelivered elements, and...

  • Page 149
    ...to OEMs, royalty revenue is recognized when the OEM reports the sale of the software products to an end-user, generally on a quarterly basis. In addition to license royalties, some OEMs pay an annual flat fee and/or support royalties for the right to sell maintenance and technical support to the end...

  • Page 150
    ..., general economic conditions in the U.S. and internationally, and changes in customer financial conditions. We also offset deferred revenue against accounts receivable when channel inventories are in excess of specified levels and for transactions where collection of a receivable is not considered...

  • Page 151
    ... 1, 2012 2011 (In millions) Trade accounts receivable, net: Receivables ...Less: allowance for doubtful accounts ...Less: reserve for product returns ...Trade accounts receivable, net: ... $962 (5) (17) $940 $1,034 (9) (12) $1,013 Inventories Inventories are valued at the lower of cost or market...

  • Page 152
    SYMANTEC CORPORATION Notes to Consolidated Financial Statements - (Continued) The following table summarizes property and equipment by categories for the periods presented: As of March 30, April 1, 2012 2011 (In millions) Property and equipment, net: Computer hardware and software ...Office ...

  • Page 153
    ... the prior year analysis, but was based on updated assumptions, as appropriate. Our cash flow assumptions are based on historical and forecasted revenue, operating costs and other relevant factors. To determine the reporting units' carrying values, we allocated assets and liabilities based on either...

  • Page 154
    ... as the difference between the carrying amount of the asset and its fair value. Our cash flow assumptions are based on historical and future revenue, operating costs, and other relevant factors. Assumptions and estimates about the remaining useful lives of our intangible assets are subjective...

  • Page 155
    ... Unit ("RSU") and Restricted Stock Award ("RSA") is equal to the market value of Symantec's common stock on the date of grant. • Performance-based restricted stock unit. We use the Monte Carlo simulation model to determine the fair value of each performance-based restricted stock unit ("PRU"). The...

  • Page 156
    ... costs are charged to operations as incurred and include electronic and print advertising, trade shows, collateral production, placement fees with hardware manufacturers, and all forms of direct marketing. Advertising costs included in Sales and marketing expense for fiscal 2012, 2011, and 2010...

  • Page 157
    ...: As of March 30, 2012 As of April 1, 2011 Level 1 Level 2 Total Level 1 Level 2 Total (In millions) Cash Equivalents(1) ...(1) $1,483 $- $1,483 $1,866 $- $1,866 Cash equivalents are money market funds which are valued based on quoted market prices of the identical underlying security. 78

  • Page 158
    ... fair value of the liability component was calculated to be $497 million upon repurchase using Level 2 inputs based on market prices for similar convertible debt instruments and resulting yields. Note 3. Acquisitions Fiscal 2012 acquisitions Clearwell Systems Inc. On June 24, 2011, we completed the...

  • Page 159
    ... another nonpublic company for an aggregate purchase price of $151 million, which consisted of $144 million in cash, net of $7 million cash acquired. The results of operations for the acquired companies have been included in the Storage and Server Management segment and the Security and Compliance...

  • Page 160
    ... the integration of VeriSign product offerings with our existing product offerings. The fair value of the noncontrolling interest was calculated on a market basis using the closing stock price of VeriSign Japan on the date of acquisition. PGP Corporation (2) (3) (4) On June 4, 2010, we completed...

  • Page 161
    ... for an aggregate purchase price of $91 million, which consisted of $81 million in cash, net of $9 million cash acquired, and $1 million in assumed equity awards at fair value. The results of operations for the acquired companies have been included in the Security and Compliance segment since...

  • Page 162
    ... lives were 10.0 years for customer relationships and 4.0 years for developed technology. Goodwill and Intangible Assets Note 4. Goodwill The changes in the carrying amount of goodwill are as follows: Security and Compliance Storage and Server Management (In millions) Consumer Services Total...

  • Page 163
    ... 2012, 2011, and 2010, respectively. Total future amortization expense for intangible assets that have finite lives, based on our existing intangible assets and their current estimated useful lives as of March 30, 2012, is estimated as follows (in millions): 2013 ...2014 ...2015 ...2016 ...2017...

  • Page 164
    ...75%, respectively. The fair value of long-term debt relies on Level 2 inputs. See Note 2 for definition of Level 2 inputs. For convertible senior notes, the fair value represents that of the liability component. See Note 1 for our accounting policy of estimating the fair value of our long-term debt...

  • Page 165
    SYMANTEC CORPORATION Notes to Consolidated Financial Statements - (Continued) As of March 30, 2012, future maturities of long-term debt are as follows (in millions): 2013 ...2014 ...2015 ...2016 ...Thereafter ...Total ...Senior Notes We issued the 4.20% notes and 2.75% notes in September 2010. These...

  • Page 166
    ...or after April 5, 2013; or (4) during the five business-day period after any five consecutive trading-day period during which the trading price of the 1.00% notes falls below a certain threshold. Upon conversion, we would pay the holder the cash value of the applicable number of shares of our common...

  • Page 167
    ... complete: • Fiscal 2011 plan. In the first quarter of fiscal 2011, management approved and initiated a plan to expand our consulting partner sales and delivery capabilities. This action was initiated to expand our partner eco-system to better leverage their customer reach and operational...

  • Page 168
    SYMANTEC CORPORATION Notes to Consolidated Financial Statements - (Continued) Restructuring and transition summary April 1, 2011 Costs, Net of Adjustments(1) Cash March 30, Payments 2012 (In millions) Cumulative Incurred to Date Restructuring liabilities: Severance ...Facilities ...Total ...Other ...

  • Page 169
    SYMANTEC CORPORATION Notes to Consolidated Financial Statements - (Continued) The following is a schedule by years of minimum future rentals on noncancelable operating leases as of March 30, 2012 (in millions): 2013 ...2014 ...2015 ...2016 ...2017 ...Thereafter ...Total minimum future lease payments...

  • Page 170
    ...the 2006-era versions of the following products was exposed: Norton Antivirus Corporate Edition; Norton Internet Security; Norton SystemWorks (Norton Utilities and Norton GoBack); and pcAnywhere. We announced that customers of our pcAnywhere product may face an increased security risk as a result of...

  • Page 171
    ... for endpoint security and management, compliance, messaging management, data loss prevention, encryption, managed security services, and authentication services. These products allow our customers to secure, provision, and remotely manage their laptops, PC's, mobile devices, and servers. We...

  • Page 172
    ... reporting structure. Product revenue information The following table represents revenue by significant product categories: March 30, 2012 Year Ended April 1, 2011 April 2, 2010 Core consumer security ...Backup ...Storage and availability management ...Endpoint security and management ...Others...

  • Page 173
    SYMANTEC CORPORATION Notes to Consolidated Financial Statements - (Continued) Geographical Information The following table represents net revenue amounts recognized for sales in the corresponding countries: March 30, 2012 Year Ended April 1, 2011 (In millions) April 2, 2010 United States ...United ...

  • Page 174
    ... thereunder. The purpose of the plan is to provide executive officers with a means to acquire an equity interest in Symantec at fair market value by applying a portion or all of their respective bonus payments towards the purchase price. As of March 30, 2012, 40,401 shares have been issued under the...

  • Page 175
    ... our annual compensation program. These PRUs can be earned depending upon the achievement of a company-specific performance condition and a market condition as follows: (1) our achievement of an annual target earnings per share for fiscal 2012 and (2) our two and three year cumulative relative total...

  • Page 176
    ... 30, April 1, April 2, 2012 2011 2010 (In millions, except per share data) Cost of revenue - Content, subscription, and maintenance ...Cost of revenue - License ...Sales and marketing ...Research and development ...General and administrative ...Total stock-based compensation expense ...Tax benefit...

  • Page 177
    SYMANTEC CORPORATION Notes to Consolidated Financial Statements - (Continued) Stock options activity WeightedWeightedAverage Average Aggregate Exercise Remaining Intrinsic Number Price Years Value(1) of Shares (In millions, except per share data) Outstanding at April 1, 2011 ...Granted ...Assumed ...

  • Page 178
    ...42 years. Performance-based restricted stock units activity Shares Unvested at April 1, 2011 ...Granted ...Changes due to performance and market conditions ...Vested ...Forfeited ...Unvested at March 30, 2012 ... - 467,000 23,350 - - 490,350 The weighted-average grant date fair value per share of...

  • Page 179
    ...Net operating loss carryforwards of acquired companies ...Other accruals and reserves not currently tax deductible ...Deferred revenue ...Loss on investments not currently tax deductible ...State income taxes ...Goodwill ...Stock-based compensation ...Other ...Valuation allowance ...Total deferred...

  • Page 180
    ... 30, 2012, we have U.S. federal net operating losses attributable to various acquired companies of approximately $120 million, which, if not used, will expire between fiscal 2013 and 2032. These net operating loss carryforwards are subject to an annual limitation under Internal Revenue Code § 382...

  • Page 181
    ... and Ireland. Our tax filings remain subject to examination by applicable tax authorities for a certain length of time following the tax year to which those filings relate. Our 2002 through 2012 fiscal years remain subject to examination by the Internal Revenue Service ("IRS") for U.S. federal tax...

  • Page 182
    SYMANTEC CORPORATION Notes to Consolidated Financial Statements - (Continued) appropriate governmental agencies for Irish tax purposes. Other significant jurisdictions include California, Japan, the UK and India. As of March 30, 2012, we are in appeals with the IRS regarding Veritas U.S. federal ...

  • Page 183
    ... - (Continued) The components of earnings per share are as follows: Year Ended March 30, April 1, April 2, 2012 2011 2010 (In millions, except per share data) Net income attributable to Symantec Corporation stockholders ...Net income per share attributable to Symantec Corporation stockholders...

  • Page 184
    ... has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Mountain View, State of California, on the 21st day of May 2012. SYMANTEC CORPORATION By /s/ Enrique Salem Enrique Salem, President and Chief Executive Officer KNOW ALL PERSONS BY...

  • Page 185
    ... B. Laybourne Geraldine B. Laybourne /s/ David L. Mahoney David L. Mahoney /s/ Robert S. Miller Robert S. Miller /s/ Daniel H. Schulman Daniel H. Schulman /s/ V. Paul Unruh V. Paul Unruh Director May 18, 2012 Director May 18, 2012 Director May 18, 2012 Director May 18, 2012 Director May 18...

  • Page 186
    ... Revenue and to Other (1) Operating Expense Accounts (In millions) Amount Written Off or Used Balance at End of Period Allowance for doubtful accounts: Year ended March 30, 2012 ...Year ended April 1, 2011 ...Year ended April 2, 2010 ...Reserve for product returns: Year ended March 30, 2012 ...Year...

  • Page 187
    ... Tucci Senior Vice President Chief Strategy Officer ANNUAL MEETING The Annual Meeting will be held on Tuesday, October 23, 2012 at 9.00 a.m. PT at: 350 Ellis Street Mountain View, CA 94043 (650) 527-8000 www.symantec.com/invest Stock Exchange Listing Symantec's common stock is traded on the NASDAQ...

  • Page 188
    350 Ellis Street Mountain View, CA 94043 Tel: (650) 527-8000 www.symantec.com