Symantec 2013 Annual Report Download - page 181

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SYMANTEC CORPORATION
Notes to Consolidated Financial Statements — (Continued)
Note 5. Supplemental Financial Information
Accumulated other comprehensive income
As of
March 29,
2013
March 30,
2012
(In millions)
Foreign currency translation adjustments, net of (tax benefits) taxes of
$(6) million and $16 million as of March 29, 2013 and March 30, 2012,
respectively ................................................... $181 $174
Unrealized gain on available-for-sale securities, net of taxes of $11 million
and $0 million as of March 29, 2013 and March 30, 2012, respectively .... 16 1
Accumulated other comprehensive income .......................... $197 $175
Less: Accumulated other comprehensive income attributable to noncontrolling
interest ....................................................... — 2
Accumulated other comprehensive income attributable to Symantec
Corporation ............................................... $197 $173
Gain from sale of joint venture
In fiscal 2008, Symantec formed a joint venture with a subsidiary of Huawei Technologies Co., Limited
(“Huawei”). On March 30, 2012, we sold our 49% ownership interest in the joint venture to Huawei for
$530 million in cash. The gain of $530 million, offset by costs to sell the joint venture of $4 million, was
included in Gain from sale of joint venture in our Consolidated Statements of Income.
Other income (expense), net
In fiscal 2013, we began receiving a tax incentive from the China tax bureau in the form of value-added tax
(“VAT”) refunds. The tax incentive is provided to companies that perform software research and development
activities in China. The refunds relate to VAT collected on qualifying software product sales. This tax incentive
plan enables companies to retrospectively apply the rules back to January 2011. As of March 29, 2013, we
recognized cumulative refunds of $33 million, which were included in Other income (expense), net in our
Consolidated Statements of Income.
Note 6. Debt
The following table summarizes components of our debt:
As of March 29, 2013
Face Value
Effective
Interest Rate Fair Value(2)
(In millions)
3.95% Senior Notes, due June 2022 (“3.95% notes”) ...... $ 400 4.05% $ 412
2.75% Senior Notes, due June 2017 (“2.75% notes due
2017”) ......................................... 600 2.79% 620
4.20% Senior Notes, due September 2020 (“4.20%
notes”) ......................................... 750 4.25% 799
2.75% Senior Notes, due September 2015 (“2.75% notes
due 2015”) ...................................... 350 2.76% 363
1.00% Convertible Senior Notes, due June 2013
(“1.00% notes”) .................................. 1,000 6.78%(1) 1,291
83