Symantec 2016 Annual Report Download - page 168

In March 2016, we entered into an ASR agreement with financial institutions to repurchase an aggregate of
$1.0 billion of our common stock. During the fourth quarter of fiscal 2016, we made an upfront payment of $1.0
billion to the financial institutions pursuant to the ASR agreement, and received and retired an initial delivery of
42.4 million shares of our common stock. The total number of shares ultimately delivered, and therefore the
average repurchase price paid per share, is determined at the end of the purchase period. The purchase period for
the March 2016 ASR agreement will end in or before the third quarter of fiscal 2017.
The upfront payments for the November 2015 and March 2016 ASR agreements totaled $1.5 billion and are
presented under the caption repurchases of common stock in our Consolidated Statements of Cash Flows.
Changes in accumulated other comprehensive income by component
Components of accumulated other comprehensive income, on a net of tax basis, were as follows:
Foreign
Currency
Translation
Adjustments
Unrealized
Gain On
Available-
For-Sale
Securities Total
(Dollars in millions)
Balance as of April 3, 2015 $ 101 $ 3 $ 104
Sale of Veritas (81) — (81)
Other comprehensive (loss) income before reclassifications (6) 4 (2)
Amounts reclassified from accumulated other comprehensive income 1 — 1
Balance as of April 1, 2016 $ 15 $ 7 $ 22
In fiscal 2016, we reclassified $1 million of realized loss on foreign currency translation adjustments from
accumulated other comprehensive income to other income, net in our Consolidated Statements of Operations.
Note 10. Stock-Based Compensation
Stock purchase plans
2008 Employee Stock Purchase Plan
We maintain the 2008 Employee Stock Purchase Plan, as amended (“ESPP”) under which eligible
employees may annually contribute up to 10% of their gross compensation, subject to certain limitations, to
purchase shares of our common stock at 85% of its fair market value on the purchase date at the end of each
purchase period, which is generally six months. As of April 1, 2016, 28 million shares have been issued under
this plan and 42 million shares remained available for future issuance.
Stock award plans
2000 Director Equity Incentive Plan
Our stockholders approved the 2000 Director Equity Incentive Plan and subsequent amendments which
reserved 200,000 shares of common stock for issuance thereunder. The purpose of this plan is to provide the
members of the Board of Directors with an opportunity to receive common stock for all or a portion of the
retainer payable to each director for serving as a member. Each director may elect any portion up to 100% of the
retainer to be paid in the form of stock. As of April 1, 2016, a total of 137,000 shares have been issued under this
plan and 63,000 shares remained available for future issuance.
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