Symantec 2012 Annual Report Download - page 144
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SYMANTEC CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
Year Ended
March 30,
2012
April 1,
2011
April 2,
2010
(In millions, except per share data)
Net revenue:
Content, subscription, and maintenance ................................ $5,823 $5,242 $5,025
License ......................................................... 907 948 960
Total net revenue ............................................... 6,730 6,190 5,985
Cost of revenue:
Content, subscription, and maintenance ................................ 943 903 849
License ......................................................... 48 27 22
Amortization of intangible assets ..................................... 91 115 234
Total cost of revenue ............................................ 1,082 1,045 1,105
Gross profit ...................................................... 5,648 5,145 4,880
Operating expenses:
Sales and marketing ............................................... 2,814 2,622 2,367
Research and development .......................................... 969 862 857
General and administrative .......................................... 437 390 352
Amortization of intangible assets ..................................... 289 270 247
Restructuring and transition ......................................... 56 92 94
Impairment of intangible assets ...................................... 4 27 —
Loss and impairment of assets held for sale ............................. — 2 30
Total operating expenses ......................................... 4,569 4,265 3,947
Operating income ................................................... 1,079 880 933
Interest income ................................................... 13 10 6
Interest expense .................................................. (115) (143) (129)
Other (expense) income, net ......................................... (6) (2) 55
Loss on early extinguishment of debt .................................. — (16) —
Loss from joint venture ............................................. (27) (31) (39)
Gain from sale of joint venture ....................................... 526 — —
Income before income taxes ........................................... 1,470 698 826
Provision for income taxes .......................................... 298 105 112
Net income ........................................................ 1,172 593 714
Less: Loss attributable to noncontrolling interest ........................... — (4) —
Net income attributable to Symantec Corporation stockholders ............... $1,172 $ 597 $ 714
Net income per share attributable to Symantec Corporation stockholders —
basic ........................................................... $ 1.58 $ 0.77 $ 0.88
Net income per share attributable to Symantec Corporation stockholders —
diluted .......................................................... $ 1.57 $ 0.76 $ 0.87
Weighted-average shares outstanding attributable to Symantec Corporation
stockholders — basic .............................................. 741 778 810
Weighted-average shares outstanding attributable to Symantec Corporation
stockholders — diluted ............................................. 748 786 819
The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.
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