Symantec 2011 Annual Report Download - page 116

Operating Activities
Net cash provided by operating activities was $1.8 billion for fiscal 2011, which resulted from net income of
$593 million adjusted for non-cash items, including depreciation and amortization charges of $743 million and
stock-based compensation expense of $145 million, and an increase in deferred revenue of $442 million. These
amounts were partially offset by a decrease in income taxes payable of $128 million.
Net cash provided by operating activities was $1.7 billion for fiscal 2010, which resulted from net income of
$714 million adjusted for non-cash items, including depreciation and amortization charges of $837 million and
stock-based compensation expense of $155 million. These amounts were partially offset by a decrease in income
taxes payable of $95 million primarily related to the outcome of the Veritas v. Commissioner Tax Court decision; see
Note 12 of the Notes to Consolidated Financial Statements.
Net cash provided by operating activities was $1.7 billion for fiscal 2009, which resulted from non-cash
charges related to depreciation and amortization expenses of $933 million and the $7.4 billion goodwill impairment
charge offset by the net loss of $6.8 billion.
Investing Activities
Net cash used in investing activities of $1.8 billion for fiscal 2011 was due to $1.5 billion of payments for our
fiscal 2011 acquisitions, net of cash acquired, and $268 million paid for capital expenditures.
Net cash used in investing activities was $65 million for fiscal 2010 and was primarily due to $248 million paid
for capital expenditures, partially offset by net proceeds from the sale of available-for-sale securities of
$190 million.
Net cash used in investing activities was $1.0 billion for fiscal 2009 and was primarily due to an aggregate
payment of $1.1 billion in cash for acquisitions, net of cash acquired, and $272 million paid for capital expenditures,
partially offset by net proceeds of $336 million from the sale of short-term investments which were used to partially
fund acquisitions.
Financing Activities
Net cash used in financing activities of $184 million for fiscal 2011 was primarily due to repurchases of
common stock of $872 million and repurchases of long-term debt of $510 million, partially offset by proceeds from
debt issuance, net of discount, of $1.1 billion and net proceeds from sales of common stock through employee stock
plans of $122 million.
Net cash used in financing activities of $441 million for fiscal 2010 was due to repurchases of common stock of
$553 million, partially offset by net proceeds from sales of common stock through employee stock plans of
$124 million.
Net cash used in financing activities was $677 million for fiscal 2009 and was primarily due to repurchases of
common stock of $700 million and the repayment of $200 million on our revolving credit facility, partially offset by
net proceeds from sales of common stock through employee stock plans of $229 million.
As of April 1, 2011, $1.6 billion of the $3 billion of cash, cash equivalents, and marketable securities was held
by our foreign subsidiaries. We have provided U.S. deferred taxes on a portion of our undistributed foreign earnings
sufficient to address the incremental U.S. tax that would be due if we needed these funds for our operations in the
U.S.
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