Symantec 2014 Annual Report Download - page 128

Financing activities
Net cash used by financing activities was $1.7 billion for fiscal 2014, which was primarily due to the
repayment of our convertible senior notes of $1 billion, repurchases of our common stock of $500 million and
cash dividends paid of $418, million partially offset by net proceeds from sales of common stock through
employee stock plans of $234 million.
Net cash provided by financing activities of $308 million for fiscal 2013 was primarily due to the proceeds from
our issuance of $600 million in principal amount of 2.75% interest-bearing senior notes due June 2017 and $400 million
in principal amount of 3.95% interest-bearing senior notes due June 2022, net of discount, of $996 million, and net
proceeds from sales of common stock through employee stock plans of $281 million, partially offset by repurchases of
our common stock of $826 million and the purchase of additional equity interest in subsidiary of $111 million.
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 debt and other obligations of $607 million under the 0.75%
notes, partially offset by net proceeds from sales of common stock through employee stock plans of $147 million.
Contractual obligations
The following is a schedule by years of our significant contractual obligations as of March 28, 2014:
Payments Due by Period
Total Fiscal 2015
Fiscal 2016
and 2017
Fiscal 2018
and 2019
Fiscal 2020
and
Thereafter Other
(Dollars in millions)
Senior Notes (1) $ 2,100 $ - $ 950 $ - $ 1,150 $ -
Interest payments on Senior Notes (1) 401 75 131 98 97 -
Purchase obligations (2) 523 483 40 - - -
Operating leases (3) 493 103 152 114 124 -
Recorded tax positions (4) 252 - - - - 252
Total $ 3,769 $ 661 $ 1,273 $ 212 $ 1,371 $ 252
(1) In fiscal 2011, we issued $350 million in principal amount of 2.75% notes due September 2015 and
$750 million in principal amount of 4.20% notes due September 2020. In fiscal 2013, we issued $600
million in principal amount of 2.75% notes due September 2017 and $400 million in principal amount
of 3.95% notes due September 2022. Interest payments were calculated based on terms of the related
notes. For further information on the notes, see Note 6 of the Notes to Consolidated Financial
Statements in this annual report.
(2) These amounts are associated with agreements for purchases of goods or services generally including
agreements that are enforceable and legally binding and that specify all significant terms, including
fixed or minimum quantities to be purchased; fixed, minimum, or variable price provisions; and the
approximate timing of the transaction. The table above also includes agreements to purchase goods or
services that have cancellation provisions requiring little or no payment. The amounts under such
contracts are included in the table above because management believes that cancellation of these
contracts is unlikely and we expect to make future cash payments according to the contract terms or in
similar amounts for similar materials.
(3) We have entered into various noncancelable operating lease agreements that expire on various dates
beyond fiscal 2020. The amounts in the table above exclude expected sublease income and includes $3
million in exited or excess facility costs related to restructuring activities.
(4) As of March 28, 2014, we reflected $252 million in long-term income taxes payable related to
uncertain tax positions. At this time, we are unable to make a reasonably reliable estimate of the timing
of payments in individual years beyond the next twelve months due to uncertainties in the timing of the
commencement and settlement of potential tax audits and controversies. For further information, see
Note 12 of the Notes to Consolidated Financial Statements in this annual report.
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