Symantec 2011 Annual Report Download - page 117

Contractual Obligations
The following is a schedule by years of our significant contractual obligations as of April 1, 2011:
Total Fiscal 2012
Fiscal 2013
and 2014
Fiscal 2015
and 2016
Fiscal 2017
and Thereafter Other
Payments Due by Period
(In millions)
Senior Notes
(1)
.......................... $1,100 $ — $ — $350 $750 $ —
Interest payments on Senior Notes
(1)
.......... 342 41 82 77 142 —
Convertible Senior Notes
(2)
................. 1,600 600 1,000 — — —
Interest payments on Convertible Senior
Notes
(2)
.............................. 27 12 15 — — —
Purchase obligations
(3)
.................... 373 334 39 — — —
Operating leases
(4)
....................... 408 94 145 79 90 —
Norton royalty agreement
(5)
................ 2 2 — — — —
Uncertain tax positions
(6)
.................. 361 — — — — 361
Total contractual obligations ................ $4,213 $1,083 $1,281 $506 $982 $361
(1)
In the second quarter of fiscal 2011, we issued $350 million in principal amount of 2.75% Notes due
September 15, 2015 and $750 million in principal amount of 4.20% Notes due September 15, 2020. Interest
payments were calculated based on terms of the related notes. For further information on the Senior Notes, see
Note 6 of the Notes to Consolidated Financial Statements.
(2)
In the first quarter of fiscal 2007, we issued $1.1 billion in principal amount of 0.75% Notes due June 15, 2011
and $1.0 billion in principal amount of 1.00% Notes due June 15, 2013. In the second quarter of fiscal 2011, we
repurchased $500 million of aggregate principal amount of our 0.75% Notes. Interest payments were calculated
based on terms of the related notes. For further information on the Convertible Senior Notes, see Note 6 of the
Notes to Consolidated Financial Statements.
(3)
These amounts are associated with agreements for purchases of goods or services generally including
agreements that are enforceable and legally binding and that specify all significant terms, including fixed
or minimum quantities to be purchased; fixed, minimum, or variable price provisions; and the approximate
timing of the transaction. The table above also includes agreements to purchase goods or services that have
cancellation provisions requiring little or no payment. The amounts under such contracts are included in the
table above because management believes that cancellation of these contracts is unlikely and we expect to make
future cash payments according to the contract terms or in similar amounts for similar materials.
(4)
We have entered into various noncancelable operating lease agreements that expire on various dates through
2029. The amounts in the table above include $32 million in exited or excess facility costs related to
restructuring activities, excluding expected sublease income.
(5)
In June 2007, we amended an existing royalty agreement with Peter Norton for the licensing of certain publicity
rights. As a result, we recorded a long-term liability reflecting the net present value of expected future royalty
payments due to Mr. Norton.
(6)
As of April 1, 2011, we reflected $361 million in long term taxes payable related to uncertain tax positions. At
this time, we are unable to make a reasonably reliable estimate of the timing of payments in individual years
beyond the next twelve months due to uncertainties in the timing of the commencement and settlement of
potential tax audits and controversies.
Indemnifications
As permitted under Delaware law, we have agreements whereby we indemnify our officers and directors for
certain events or occurrences while the officer or director is, or was, serving at our request in such capacity. The
maximum potential amount of future payments we could be required to make under these indemnification
agreements is not limited; however, we have directors’ and officers’ insurance coverage that reduces our exposure
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