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SYMANTEC CORPORATION
Notes to Consolidated Financial Statements Ì (Continued)
March 31, 2005
Amortized Unrealized Unrealized Estimated
Cost Gains Losses Fair Value
(In thousands)
Cash and cash equivalents:
CashÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $ 243,305 $Ì $ Ì $ 243,305
Money market funds ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 337,056 Ì Ì 337,056
Commercial paper ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 319,094 Ì Ì 319,094
Bank debt securities and depositsÏÏÏÏÏÏÏÏÏ 31,186 Ì Ì 31,186
Government and government-sponsored
debt securities ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 160,792 Ì Ì 160,792
Total cash and cash equivalents ÏÏÏÏÏÏÏÏ $1,091,433 $Ì $ Ì $1,091,433
Short-term investments:
Corporate debt securitiesÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $1,517,688 $88 $(1,563) $1,516,213
Government and government-sponsored
debt securities ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 592,112 Ì (634) 591,478
Other investments ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 7,463 Ì Ì 7,463
Total short-term investments ÏÏÏÏÏÏÏÏÏÏ $2,117,263 $88 $(2,197) $2,115,154
As of March 31, 2006, the unrealized losses in the above table relate to short-term investment securities
for which the fair value is less than the cost basis. In all cases, this condition has existed for less than one year.
We expect to receive the full principal and interest on these securities. When evaluating our investments for
possible impairment, we review factors such as the length of time and extent to which fair value has been
below cost basis, the financial condition of the investee, and our ability and intent to hold the investment for a
period of time which may be sufficient for anticipated recovery in market value. The changes in the values in
the above securities are considered to be temporary in nature and, accordingly, we do not believe that the
values of these securities are impaired as of March 31, 2006. Unrealized gains and losses on available-for-sale
securities are reported as a component of Stockholders' equity in the Consolidated Balance Sheets.
The estimated fair value of cash equivalents and short-term investments by contractual maturity as of
March 31, 2006 is as follows:
(In thousands)
Due in one year or lessÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ $2,068,891
Due after one year and through 5 years ÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏÏ 238,550
$2,307,441
Equity investments in privately held companies
As of March 31, 2006 and 2005, we held equity investments with a carrying value of $11 million, in
several privately-held companies. These investments are recorded at cost as we do not have significant
influence over the investees and are included in Other long-term assets in the Consolidated Balance Sheets. In
fiscal 2006, 2005 and 2004, we recognized declines in value of these investments that were determined to be
other-than-temporary of $4 million, $1 million, and $3 million, respectively. The other-than-temporary
declines in fair value were recorded as Interest and other income, net in the Consolidated Statements of
Income.
Note 6. Convertible Subordinated Notes
In connection with the acquisition of Veritas, we assumed the Veritas 0.25% convertible subordinated
notes. In August 2003, Veritas issued $520 million of 0.25% convertible subordinated notes due August 1,
94