Symantec 2012 Annual Report Download - page 176
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SYMANTEC CORPORATION
Notes to Consolidated Financial Statements — (Continued)
The following assumptions were used to estimate the fair value of stock options and PRUs:
Fiscal
2012
Fiscal
2011
Fiscal
2010
Stock Options:
Expected life .................................. 3.76 years 3.52 years 3.38 years
Weighted-average expected volatility ............... 35% 34% 44%
Weighted-average risk-free interest rate ............. 1.62% 1.85% 1.47%
Expected dividends ............................. — — —
PRUs:
Expected life .................................. 2.8-2.89 years — —
Expected volatility .............................. 48%-49% — —
Weighted-average expected volatility ............... 49% — —
Risk-free interest rate ........................... 0.65% - 0.90% — —
Expected dividends ............................. — — —
Both the Black-Scholes and the Monte Carlo simulation fair value models require the use of highly
subjective and complex assumptions, including the expected life and the price volatility of the underlying stock.
Changes in the Black-Scholes and the Monte Carlo valuation assumptions and our related estimates may change
the fair value for stock-based compensation and the related expense recognized. There have not been any
material changes to our stock-based compensation expense due to changes in our valuation assumptions.
Stock-based compensation expense
The following table sets forth the total stock-based compensation expense recognized in our Consolidated
Statements of Income.
Year Ended
March 30,
2012
April 1,
2011
April 2,
2010
(In millions, except per share data)
Cost of revenue — Content, subscription, and maintenance ......... $ 14 $ 19 $ 14
Cost of revenue — License .................................. 2 3 2
Sales and marketing ........................................ 70 58 59
Research and development .................................. 49 40 53
General and administrative .................................. 29 25 27
Total stock-based compensation expense ....................... 164 145 155
Tax benefit associated with stock-based compensation expense ..... (46) (41) (43)
Net stock-based compensation expense ......................... $118 $104 $112
Net stock-based compensation expense per share attributable to
Symantec Corporation stockholders — basic .................. $0.16 $0.13 $0.14
Net stock-based compensation expense per share attributable to
Symantec Corporation stockholders — diluted ................. $0.16 $0.13 $0.14
97