SYMANTEC CORP | 2013 | FY | 3


Note 4.  Goodwill and Intangible Assets

 

Goodwill

 

The changes in the carrying amount of goodwill are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

Consumer

 

Security and Compliance

 

Storage and Server Management

 

Services

 

Total

 

(In millions)

Net balance as of April 1, 2011 (1)

$              363

 

$           2,464

 

$           2,648

 

$                19

 

$           5,494

Impairment (2) 

”-“

 

”-“

 

”-“

 

(19)

 

(19)

Additions (3)

”-“

 

26 

 

337 

 

”-“

 

363 

Adjustments

(8)

 

(4)

 

”-“

 

”-“

 

(12)

Net balance as of March 30, 2012 (4)

$              355

 

$           2,486

 

$           2,985

 

$                   -

 

$           5,826

Addition (3) 

”-“

 

24 

 

”-“

 

”-“

 

24 

Adjustments

”-“

 

(3)

 

(6)

 

”-“

 

(9)

Net balance as of March 29, 2013 (4) 

$              355

 

$           2,507

 

$           2,979

 

$                   -

 

$           5,841

____________

 

 

(1)   Gross goodwill balances for the Consumer, Security and Compliance, Storage and Server Management, and Services segment were $0.4 billion, $4.9 billion, $7.2 billion, and $0.4 billion, respectively as of April 1, 2011. Accumulated impairments for the Consumer, Security and Compliance, Storage and Server Management, and Services were $0, $2.4 billion, $4.6 billion, and $0.4 billion, respectively as of April 1, 2011.

 

(2)   Due to the adoption of new authoritative guidance at the beginning of fiscal 2012, we were required to perform a goodwill impairment test for our Services reporting unit. As a result, we recognized an impairment loss of $19 million which was recorded to beginning Accumulated deficit as a cumulative-effect adjustment.

 

(3)   See Note 3 for business combinations completed.

 

(4)    Gross goodwill balances for the Consumer, Security and Compliance, Storage and Server Management, and Services segment were $0.4 billion, $4.9 billion, $7.6 billion, and $0.4 billion, respectively as of March 30, 2012 and March 29, 2013. Accumulated impairments for the Consumer, Security and Compliance, Storage and Server Management, and Services were $0, $2.4 billion, $4.6 billion, and $0.4 billion, respectively as of March 30, 2012 and March 29, 2013.

 

Intangible assets, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of March 29, 2013

 

As of March 30, 2012

 

Gross Carrying Amount

 

Accumulated Amortization

 

Net Carrying Amount

 

Weighted-Average Remaining Useful Life

 

Gross Carrying Amount

 

Accumulated Amortization

 

Net Carrying Amount

 

Weighted-Average Remaining Useful Life

 

($ in millions)

Customer relationships

$        2,205

 

$         (1,766)

 

$           439

 

2 years

 

$        2,219

 

$         (1,499)

 

$           720

 

3 years

Developed technology

1,917 

 

(1,720)

 

197 

 

4 years

 

1,914 

 

(1,654)

 

260 

 

4 years

Finite-lived trade names

146 

 

(110)

 

36 

 

2 years

 

146 

 

(96)

 

50 

 

3 years

Patents

26 

 

(18)

 

 

5 years

 

75 

 

(65)

 

10 

 

6 years

Indefinite-lived trade names (1)

297 

 

 

297 

 

Indefinite

 

297 

 

 

297 

 

Indefinite

Total

$        4,591

 

$         (3,614)

 

$           977

 

2 years

 

$        4,651

 

$         (3,314)

 

$        1,337

 

3 years

____________

 

(1)

See Note 2 for information regarding impairment charges.

 

Amortization expense was $355 million, $380 million, and $385 million in fiscal 2013, 2012, and 2011, respectively.

 

Total future amortization expense for intangible assets that have finite lives, based on our existing intangible assets and their current estimated useful lives as of March 29, 2013, is estimated by fiscal years as follows (in millions):

 

 

 

 

2014

$           210

2015

157 

2016

106 

2017

87 

2018

65 

Thereafter

55 

Total

$           680

 


us-gaap:GoodwillAndIntangibleAssetsDisclosureTextBlock