Symantec 2002 Annual Report Download - page 101

SYMANTEC CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Ì (Continued)
Details of the Ñscal 2001 restructuring, site closures and other expenses were as follows:
Cash/ Original Amount Amount Balance
Non-cash Charge Paid/Used Adjusted at 3/31/02
(In thousands)
Employee severance and outplacementÏÏÏÏÏ Cash $3,524 $(3,524) $Ì $Ì
Excess equipment ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ Non-cash 140 (140) Ì Ì
Total restructuring, site closures and other
expenses ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $3,664 $(3,664) $Ì $Ì
During the March 2000 quarter, we reduced our operations in our Melville and Toronto sites, thereby
reducing our workforce by 96 employees. As a result, we vacated the facility in Melville and reduced the space
occupied in Toronto. We recorded approximately $3.4 million for employee severance, outplacement and
abandonment of certain facilities and equipment during the March 2000 quarter. In addition, we provided
approximately $700,000 for costs of severance, related beneÑts and outplacement services for two members of
senior management due to the realignment of our business units and their resulting departures during the
March 2000 quarter. These expenses were paid by the end of the December 2001 quarter.
During the December 1999 quarter, we reduced our Internet Tools business unit's workforce and reduced
our sales workforce. There were 48 employees in the Internet Tools business unit aÅected, resulting in a
charge of approximately $1.8 million for severance, related beneÑts and outplacement services. The sales
workforce reduction aÅected 10 employees, resulting in a charge of approximately $400,000 for severance,
related beneÑts and outplacement services. These severance and related beneÑts were paid by the end of the
December 2001 quarter.
During the September 1999 quarter, we provided approximately $700,000 for costs of severance, related
beneÑts and outplacement services for two members of senior management due to the realignment of our
business units and their resulting departures. We also recorded approximately $2.7 million for certain costs
related to an agreement reached with our former CEO during the June 1999 quarter. These costs were
comprised of severance and acceleration of unvested options. These severance and related beneÑts were paid
by the end of the December 2001 quarter.
Details of the Ñscal 2000 restructuring, site closures and other expenses were as follows:
Cash/ Original Amount Amount Balance
Non-cash Charge Paid/Used Adjusted at 3/31/02
(In thousands)
Employee severance and outplacementÏÏÏÏÏ Cash/non-cash $8,733 $(8,733) $Ì $Ì
Excess facilities and equipment ÏÏÏÏÏÏÏÏÏÏÏ Cash/non-cash 953 (953) Ì Ì
Total restructuring, site closures and other
expenses ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $9,686 $(9,686) $Ì $Ì
The exit plans associated with each of the reductions in workforce and facility closures above speciÑcally
identiÑed all the signiÑcant actions, including:
‚ the names of individuals who would not continue employment with us;
‚ the termination dates and severance packages for each terminating employee;
‚ the planned date we would vacate the facilities which were under existing operating leases; and
‚ the speciÑc excess equipment, furniture, Ñxtures and leasehold improvements to be disposed.
Employee severance and outplacement was primarily comprised of severance packages for employees
who were terminated as a result of the restructurings. As part of each restructuring plan, we speciÑcally
identiÑed those individuals who would not continue employment with us. The severance periods ranged from
one to six months. The total cost of the severance packages was accrued and included in a restructuring charge
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