Symantec 2016 Annual Report Download - page 117

(4) In fiscal 2012, we sold our ownership interest in a joint venture for $530 million in cash. The net gain of
$526 million, offset by costs to sell the joint venture of $4 million, was included in gain from sale of joint
venture in our fiscal 2012 Consolidated Statements of Operations.
(5) Net income per share amounts may not add due to rounding.
(6) On June 15, 2013, the principal balance on the Company’s 1.00% Convertible Senior Notes matured and
was settled by a cash payment of $1 billion. At the time of issuance of the 1.00% notes, we granted warrants
to affiliates of certain initial purchasers of the notes whereby they had the option to purchase up to 52.7
million shares of our common stock. All the warrants expired unexercised during the second quarter of
fiscal 2014. In the fourth quarter of fiscal 2016, we issued $500 million in principal amount of 2.50%
Convertible Senior Notes, due in April of 2021. See Note 5 of the Notes to Consolidated Financial
Statements in this annual report for more information on the Company’s long-term obligations.
(7) During the second quarter of fiscal 2016, the principal balance on the Company’s 2.75% Senior Notes due
September 15, 2015, matured and was settled by a cash payment of $350 million. See Note 5 of the Notes to
Consolidated Financial Statements in this annual report for more information.
(8) Includes noncontrolling interest in subsidiary of $78 million in fiscal 2012.
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations
OVERVIEW
Our business
Symantec Corporation is a global leader in security. We operate our business on a global civilian cyber
intelligence threat network and track a vast number of threats across the Internet from hundreds of millions of
mobile devices, endpoints, and servers across the globe. We believe one of our competitive advantages is our
database of threat indicators which allows us to reduce the number of false positives and provide faster and better
protection for customers through our products. Through the delivery of new and enhanced solutions, we are
integrating our security offerings across our portfolio. We are also developing novel solutions in growing
markets like cloud, advanced threat protection, information protection and cyber security services. Founded in
1982, Symantec has operations in more than 35 countries and our principal executive offices are located at 350
Ellis Street, Mountain View, California, 94043.
Fiscal calendar
We have a 52/53-week fiscal year ending on the Friday closest to March 31. Unless otherwise stated,
references to years in this report relate to fiscal year and periods ended April 1, 2016, April 3, 2015 and
March 28, 2014. Our fiscal 2016 and 2014 were 52-week years whereas our fiscal 2015 was a 53-week year.
Strategy
Our security strategy is to deliver a unified security analytics platform that provides big data analytics,
utilizes our vast telemetry, provides visibility into real-time global threats, and powers Symantec and third-party
security analytics applications; leverage this analytics platform to provide best-in-class consumer and enterprise
security products; and offer cyber security services that provide a full-suite of services from monitoring to
incident response to threat intelligence, all supported by over 500 cyber security experts and nine global security
response centers.
After closing the divestiture of Veritas, as the world leader in cybersecurity, we are more focused than ever
on the following priorities: delivering upon our Unified Security strategy, building our enterprise security
pipeline and go-to-market capabilities, improving our cost structure, and fulfilling our commitment to allocate
capital to our stockholders.
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