Symantec 2002 Annual Report Download - page 93

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SYMANTEC CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Ì (Continued)
release the cash collateral and take possession of the buildings. As of March 31, 2002, we were in compliance
with all Ñnancial covenants.
Rent expense charged to operations totaled approximately $25.2 million, $22.9 million and $15.5 million
during Ñscal 2002, 2001 and 2000, respectively.
Note 8. Stock Split
On December 14, 2001, the Board of Directors approved a two-for-one stock split of Symantec's common
stock eÅected as a stock dividend, which became eÅective as of January 31, 2002 to stockholders of record on
January 17, 2002. Based on the number of shares outstanding on January 17, 2002, the stock dividend resulted
in the issuance of approximately 70.7 million additional shares of Symantec's common stock. All Symantec
share and per share amounts in prior periods have been adjusted to give retroactive eÅect to the stock
dividend.
Note 9. Common Stock Repurchases
On January 16, 2001, the Board of Directors replaced the March 22, 1999 stock repurchase program with
a new authorization to repurchase up to $700.0 million, not to exceed 30.0 million shares, of Symantec's
common stock with no expiration date. During Ñscal 2002, we repurchased 9.6 million shares at prices ranging
from $17.78 to $24.50 per share, for an aggregate amount of approximately $204.4 million. During Ñscal 2001,
we repurchased 10.0 million shares at prices ranging from $23.04 to $25.58 per share, for an aggregate amount
of approximately $244.4 million.
On March 22, 1999, the Board of Directors authorized the repurchase of up to $75.0 million of Symantec
common stock with no expiration date. During Ñscal 2000, we repurchased 2.0 million shares at prices ranging
from $8.95 to $9.94, for an aggregate amount of approximately $18.7 million.
Note 10. Net Income (Loss) Per Share
The components of net income (loss) per share were as follows:
Year Ended March 31,
2002 2001 2000
(In thousands, except per share data)
Basic Net Income (Loss) Per Share
Net income (loss) ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $(28,151) $ 63,936 $170,148
Weighted average number of common shares outstanding during the
period ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 143,604 129,474 115,740
Basic net income (loss) per share ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $ (0.20) $ 0.49 $ 1.47
Diluted Net Income (Loss) Per Share
Net income (loss) ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $(28,151) $ 63,936 $170,148
Weighted average number of common shares outstanding during the
period ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 143,604 129,474 115,740
Shares issuable from assumed exercise of options ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ Ì 7,000 8,688
Total shares for purpose of calculating diluted net income (loss) per
share ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 143,604 136,474 124,428
Diluted net income (loss) per shareÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $ (0.20) $ 0.47 $ 1.37
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