Symantec 2014 Annual Report Download - page 155
Download and view the complete annual report
Please find page 155 of the 2014 Symantec annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145 -
146 -
147 -
148 -
149 -
150 -
151 -
152 -
153 -
154 -
155 -
156 -
157 -
158 -
159 -
160 -
161 -
162 -
163 -
164 -
165 -
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
 |
 |
The following table presents the purchase price allocation included in our Consolidated Balance Sheets (in
millions):
Net tangible assets (1) $33
Intangible assets (2) 154
Goodwill (3) 268
Net tax liabilities (63)
Total purchase price $ 392
(1) Net tangible assets included deferred revenue which was adjusted down from $13 million to $3 million,
representing our estimate of the fair value of the contractual obligation assumed for support services.
(2) Intangible assets included customer relationships, developed technology, and trade names of $82 million,
$60 million, and $12 million, respectively, which are amortized over their estimated useful lives of seven to
nine years.
(3) Goodwill is not tax deductible. The amount resulted primarily from our expectation of synergies from the
integration of Clearwell product offerings with our existing product offerings.
Other
In addition to Clearwell, we completed the acquisitions of LiveOffice LLC (“LiveOffice”) and another
privately-held company for an aggregate purchase price of $151 million, which consisted of $144 million in cash,
net of $7 million cash acquired. The results of operations for the acquired companies have been included in the
Information Management segment. Supplemental pro forma information for these acquisitions was not material
to our financial results and therefore not included. For fiscal 2012, we recorded acquisition-related transaction
costs of $2 million, which were included in general and administrative expense.
The following table presents the purchase price allocation included in our Consolidated Balance Sheets (in
millions):
LiveOffice Other Total
Acquisition date January 13, 2012 March 2, 2012
Net tangible (liabilities) assets (1) $ (5) $ 2 $ (3)
Intangible assets (2) 51 8 59
Goodwill (3) 69 26 95
Total purchase price $ 115 $ 36 $151
(1) Net tangible (liabilities) assets included deferred revenue, which was adjusted down from $12 million to $6
million, representing our estimate of the fair value of the contractual obligation assumed for support
services.
(2) Intangible assets included primarily developed technology of $44 million and customer relationships of $15
million, which are amortized over their estimated useful lives of four to ten years. The weighted-average
estimated useful lives were 4.8 years for developed technology and 9.9 years for customer relationships.
(3) Goodwill is partially tax deductible. The goodwill amount resulted primarily from our expectation of
synergies from the integration of the acquisitions’ product offerings with our existing product offerings.
76