Symantec 2012 Annual Report Download - page 127

Operating activities
Net cash provided by operating activities was $1.9 billion for fiscal 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, net of $89 million, and an increase in account payable and accrued
liabilities of $77 million. Additionally, net income was adjusted for the net gain from the sale of the joint venture
of $526 million, as the gross proceeds were included as a cash inflow provided by investing activities.
Net cash provided by operating activities was $1.8 billion for fiscal 2011, which resulted from net income of
$593 million adjusted for non-cash items, including depreciation and amortization charges of $743 million and
stock-based compensation expense of $145 million, and an increase in deferred revenue of $442 million. These
amounts were partially offset by a decrease in income taxes payable of $128 million.
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 $95 million primarily related to the outcome of the Veritas v. Commissioner Tax Court decision;
see Note 12 of the Notes to Consolidated Financial Statements.
Investing activities
Net cash used in investing activities was $318 million for fiscal 2012, which was used to pay for fiscal 2012
acquisitions, net of cash acquired, of $508 million, payments of $286 million for capital expenditures, and $47
million in purchases of held-to-maturity securities, partially offset by the gross proceeds from the sale of the joint
venture of $530 million.
Net cash used in investing activities of $1.8 billion for fiscal 2011 was due to $1.5 billion of payments for
our fiscal 2011 acquisitions, net of cash acquired, and $268 million paid for capital expenditures.
Net cash used in investing activities was $65 million for fiscal 2010 and was primarily due to payments of
$248 million for capital expenditures, partially offset by $190 million in net proceeds from the sale of
available-for-sale securities.
Financing activities
Net cash used in financing activities was $1.4 billion for fiscal 2012, which was due to the repurchases of
our common stock of $893 million and repayment of our outstanding balance of $600 million under the 0.75%
Notes, partially offset by net proceeds from sales of common stock through employee stock plans of $147
million.
Net cash used in financing activities of $184 million for fiscal 2011 was primarily due to repurchases of
common stock of $872 million and repurchases of long-term debt of $510 million, partially offset by proceeds
from debt issuance, net of discount, of $1.1 billion and net proceeds from sales of common stock through
employee stock plans of $122 million.
Net cash used in financing activities of $441 million for fiscal 2010 were 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.
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