Symantec 2012 Annual Report Download - page 109

(b) The summary reflects adjustments for the retrospective adoption of new authoritative guidance on
convertible debt instruments in fiscal 2010.
(c) During fiscal 2009, we recorded a non-cash goodwill impairment charge of $7.4 billion.
(d) On February 5, 2008, we formed Huawei-Symantec, Inc. (“joint venture”) with a subsidiary of Huawei
Technologies Co., Ltd. (“Huawei”). During the fourth quarter of fiscal 2012, we sold our 49% ownership
interest in the joint venture to Huawei for $530 million in cash. The gross proceeds of $530 million, offset
by costs to sell the joint venture of $4 million, are included in “Gain from sale of joint venture” reflected in
our fiscal 2012 Consolidated Statements of Income.
(e) In fiscal 2011, we issued $350 million in principal amount of 2.75% notes due September 15, 2015 and
$750 million in principal amount of 4.20% notes due September 15, 2020.
(f) In fiscal 2007, we issued $1.1 billion principal amount of 0.75% convertible senior notes (“0.75% notes”)
and $1.0 billion principal amount of 1.00% notes. In fiscal 2011, we repurchased $500 million aggregate
principal amount of our 0.75% notes. Concurrently with this repurchase, we sold a proportionate share of
the initial note hedges back to the note hedge counterparties for approximately $13 million. These
transactions resulted in a loss from extinguishment of debt of approximately $16 million. In fiscal 2012, the
remaining balance of our 0.75% notes matured and we settled with the holders with a cash payment of
$600 million.
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations
OVERVIEW
Our business
Symantec 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 enabling confidence wherever information is used or stored.
Fiscal calendar
We have a 52/53-week fiscal year ending on the Friday closest to March 31. Unless otherwise stated,
references to years in this report relate to fiscal year and periods ended March 30, 2012, April 1, 2011 and
April 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 needs. Since the fourth quarter of fiscal 2008, we have operated in five operating
segments: Consumer, Security and Compliance, Storage and Server Management, Services, and Other. During
the first quarter of fiscal 2012, we modified our segment reporting structure to more readily match our operating
structure, resulting in the movement of managed security services revenue and expenses from the Services
segment to the Security and Compliance segment. For further description of our operating segments, see Note 10
of the Notes to Consolidated Financial Statements in this annual report. Our reportable segments are the same as
our operating segments.
Financial results and trends
Revenue increased by $540 million for fiscal 2012, as compared to fiscal 2011, primarily driven by growth
in our Security and Compliance segment, Consumer segment, and Storage and Server Management segment. Our
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