Symantec 2013 Annual Report Download - page 160

SYMANTEC CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
Year Ended
March 29,
2013
March 30,
2012
April 1,
2011
(In millions, except per share data)
Net revenue:
Content, subscription, and maintenance ............................... $6,021 $5,823 $5,242
License ......................................................... 885 907 948
Total net revenue ............................................... 6,906 6,730 6,190
Cost of revenue:
Content, subscription, and maintenance ............................... 1,017 943 903
License ......................................................... 89 48 27
Amortization of intangible assets .................................... 69 91 115
Total cost of revenue ............................................ 1,175 1,082 1,045
Gross profit ..................................................... 5,731 5,648 5,145
Operating expenses:
Sales and marketing ............................................... 2,735 2,814 2,622
Research and development ......................................... 1,012 969 862
General and administrative ......................................... 450 437 390
Amortization of intangible assets .................................... 286 289 270
Restructuring and transition ......................................... 125 56 92
Impairment of intangible assets ...................................... — 4 27
Loss and impairment of assets held for sale ............................ — — 2
Total operating expenses ......................................... 4,608 4,569 4,265
Operating income ................................................... 1,123 1,079 880
Interest income ................................................... 12 13 10
Interest expense .................................................. (139) (115) (143)
Other income (expense), net ........................................ 27 (6) (2)
Loss on early extinguishment of debt ................................. — — (16)
Loss from joint venture ............................................ — (27) (31)
Gain from sale of joint venture ...................................... — 526 —
Income before income taxes .......................................... 1,023 1,470 698
Provision for income taxes ......................................... 258 298 105
Net income ........................................................ 765 1,172 593
Less: Loss attributable to noncontrolling interest ........................ — — (4)
Net income attributable to Symantec Corporation stockholders ............... $ 765 $1,172 $ 597
Net income per share attributable to Symantec Corporation stockholders —
basic ........................................................... $ 1.09 $ 1.58 $ 0.77
Net income per share attributable to Symantec Corporation stockholders —
diluted ......................................................... $ 1.08 $ 1.57 $ 0.76
Weighted-average shares outstanding attributable to Symantec Corporation
stockholders — basic .............................................. 701 741 778
Weighted-average shares outstanding attributable to Symantec Corporation
stockholders — diluted ............................................ 711 748 786
The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.
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