Symantec Corp (SYMC) SEC Filing 10-K Annual report for the fiscal year ending Friday, March 30, 2018

Earnings Press Release
10-K Annual Report
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Symantec Corp
Ticker: SYMC CIK: 849399

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): September 24, 2018

Symantec Corporation

(Exact Name of Registrant as Specified in Charter)


Delaware	000-17781	77-0181864
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)


350 Ellis Street, Mountain View, CA		94043
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s Telephone Number, Including Area Code (650) 527-8000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

The following information was filed by Symantec Corp (SYMC) on Tuesday, September 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Symantec Corp's 10-K Annual Report:

Other - Other Highlight
An accounting policy is deemed to be critical if it requires an accounting estimate to be made based on assumptions about matters that are highly uncertain at the time the estimate is made, if different estimates reasonably could have been used, or if changes in the estimate that are reasonably possible could materially impact the financial statements.

Other - Other Highlight
Fiscal 2019 Restructuring Plan Fiscal 2019 Restructuring Plan On August 2, 2018, we announced a restructuring plan under which we will initiate targeted reductions of our global workforce of up to approximately 8%.
Financial - Shares Highlight
Share repurchases - Under our stock repurchase programs, we may purchase shares of our outstanding common stock through open market and through accelerated stock repurchase transactions.
Financial - Expense Highlight
Restructuring, transition and other costs increased $137 million, primarily due to an increase of $178 million in transition costs, including increases of $90 million in costs primarily related to our enterprise resource planning and supporting systems and other transformation initiatives and $88 million in separation costs related to the sale of our WSS and PKI solutions.
Financial - Income Highlight
Fiscal 2018 compared to fiscal 2017 Fiscal 2018 compared to fiscal 2017 The decrease in our effective tax rate in fiscal 2018 as compared to fiscal 2017 was primarily due to a provisional tax benefit of $659 million, which is included as a component of income tax expense from continuing operations.
Financial - Expense
Fiscal 2017 compared to fiscal...Read more
Financial - Expense
We estimate that we will...Read more
Financial - Expense
These unallocated expenses primarily consist...Read more
Financial - Income
Partially offsetting the increase in...Read more
Financial - Expense
These increases were partially offset...Read more
Financial - Cash Flow
The decrease in cash flow...Read more
Financial - Expense
This increase was partially offset...Read more
Other - Other
Should any of our estimates...Read more
Financial - Expense
Our stock-based compensation in operating...Read more
Other - Other
As of March 30, 2018,...Read more
Revenue - Product
Fiscal 2017 compared to fiscal...Read more
Financial - Income
Income from continuing operations and...Read more
Legal - Other
These amounts are associated with...Read more
Revenue - Product
Changes in operating assets and...Read more
Revenue - Product
Fiscal 2017 compared to fiscal...Read more
Financial - Income
Operating income increased $272 million,...Read more
Financial - Income
Operating income increased $286 million,...Read more
Revenue - Product
These factors were partially offset...Read more
Revenue - Product
Fiscal 2017 compared to fiscal...Read more
Revenue - Product
Fiscal 2018 compared to fiscal...Read more
Financial - Cash Flow
Cash from continuing financing activities...Read more
Legal - Other
Loss contingencies Loss contingencies We...Read more
M & A - Other
In addition, we incurred higher...Read more
Financial - Cash Flow
Critical estimates in valuing intangible...Read more
M & A - Other
We use the Black-Scholes model...Read more
Financial - Debt
LIQUIDITY, CAPITAL RESOURCES AND CASH...Read more
Financial - Debt
Our financing activities in fiscal...Read more
Financial - Income
Operating income decreased $85 million,...Read more
Revenue - Geography
Under the transition tax of...Read more
Revenue - Product
The increase in revenue from...Read more
Revenue - Product
Deferred revenue increased $316 million,...Read more
Financial - Income
An estimated loss from such...Read more
Revenue - Product
Fiscal 2017 compared to fiscal...Read more
Financial - Cash Flow
Cash from continuing investing activities...Read more
Other - Other
We use a two-step process...Read more
Financial - Expense
Stock-based compensation expense reported in...Read more
Financial - Dividend
The options assumed are without...Read more
M & A - Other
The allocation of purchase price...Read more
Revenue - Product
Where elements are delivered over...Read more
Other - Other
The table above also includes...Read more
Financial - Expense
General and administrative expense increased...Read more
Other - Other
The amounts under such contracts...Read more
Financial - Cash Flow
Should any of these estimates...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Operations
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Stockholders' Equity
Consolidated Statements Of Stockholders' Equity (Parenthetical)
Consolidated Statements Of Cash Flows
Description Of Business And Summary Of Significant Accounting Policies
Recent Accounting Standards
Acquisitions And Divestitures
Goodwill And Intangible Assets
Supplementary Information
Financial Instruments And Fair Value Measurements
Debt
Derivatives
Restructuring, Transition And Other Costs
Income Taxes
Stockholders' Equity
Stock-Based Compensation And Other Benefit Plans
Net Income Per Share
Segment And Geographic Information
Commitments And Contingencies
Subsequent Events
Description Of Business And Summary Of Significant Accounting Policies (Policies)
Description Of Business And Summary Of Significant Accounting Policies (Tables)
Recent Accounting Standards (Tables)
Acquisitions And Divestitures (Tables)
Goodwill And Intangible Assets (Tables)
Supplementary Information (Tables)
Financial Instruments And Fair Value Measurements (Tables)
Debt (Tables)
Derivatives (Tables)
Restructuring, Transition And Other Costs (Tables)
Income Taxes (Tables)
Stockholders' Equity (Tables)
Stock-Based Compensation And Other Benefit Plans (Tables)
Net Income Per Share (Tables)
Segment And Geographic Information (Tables)
Commitments And Contingencies (Tables)
Description Of Business And Summary Of Significant Accounting Policies (Narrative - Enterprise Security And Consumer Safety Segments) (Details)
Description Of Business And Summary Of Significant Accounting Policies (Narrative - Derivatives Not Designated As Hedges) (Details)
Description Of Business And Summary Of Significant Accounting Policies (Narrative - Property, Plant And Equipment) (Details)
Description Of Business And Summary Of Significant Accounting Policies (Concentration Risk) (Details)
Recent Accounting Standards (Details)
Acquisitions And Divestitures (Acquistion Narrative) (Details)
Acquisitions And Divestitures (Preliminary Allocation Of Aggregate Purhcase Price) (Details)
Acquisitions And Divestitures (Schedule Of Total Consideration) (Details)
Acquisitions And Divestitures (Business Combination, Recognized Identifiable Assets Acquired And Liabilities Assumed) (Details)
Acquisitions And Divestitures (Components Of Intangible Assets Recognized) (Details)
Acquisitions And Divestitures (Schedule Of Pro Forma Information) (Details)
Acquisitions And Divestitures (Divestiture Narrative) (Details)
Acquisitions And Divestitures (Balance Sheet Disclosures) (Details)
Acquisitions And Divestitures (Gain On Divestiture) (Details)
Acquisitions And Divestitures (Income Before Income Taxes) (Details) (Details)
Goodwill And Intangible Assets (Schedule Of Changes In The Carrying Amount Of Goodwill) (Details)
Goodwill And Intangible Assets (Schedule Of Intangible Assets, Net) (Details)
Goodwill And Intangible Assets (Schedule Of Amortization Expense) (Details)
Goodwill And Intangible Assets (Schedule Of Future Intangible Asset Amortization Expense) (Details)
Supplementary Information (Cash And Cash Equivalents) (Details)
Supplementary Information (Accounts Receivable, Net) (Details)
Supplementary Information (Other Current Assets) (Details)
Supplementary Information (Property And Equipment) (Details)
Supplementary Information (Narrative) (Details)
Supplementary Information (Other Long-Term Assets) (Details)
Supplementary Information (Long-Term Income Taxes Payable) (Details)
Supplementary Information (Total Other Income, Net) (Details)
Supplementary Information (Non-Cash Investing And Financing Activities) (Details)
Financial Instruments And Fair Value Measurements (Schedule Of The Carrying Value Of Assets Measured At Fair Value On A Recurring Basis) (Details)
Financial Instruments And Fair Value Measurements (Schedule Of Debt Maturities) (Details)
Financial Instruments And Fair Value Measurements (Narrative) (Details)
Debt (Schedule Of Components Of Long-Term Debt, Interest Rates, Payment Dates) (Details)
Debt (Schedule Of Long-Term Debt For Each Of The Next Five Years And Thereafter) (Details)
Debt (Narrative) (Details)
Debt (Schedule Of Interest Expense And Debt Discount And Issuance Costs) (Details)
Derivatives (Details)
Restructuring, Transition And Other Costs (Details)
Income Taxes (Narrative) (Details)
Income Taxes (Components Of Income Tax Expense (Benefit) (Details)
Income Taxes (Effective Income Tax Rate, Federal Statutory Income Tax Rate) (Details)
Income Taxes (Schedule Of Difference Between Effective Income Tax And Federal Statutory Income Tax) (Details)
Income Taxes (Principal Components Of Deferred Tax Assets) (Details)
Income Taxes (Schedule Of Changes In Unrecognized Tax Benefits) (Details)
Stockholders' Equity (Summary Of Dividends Declared And Paid) (Details)
Stockholders' Equity (Narrative) (Details)
Stockholders' Equity (Schedule Of Accumulated Other Comprehensive Income) (Details)
Stock-Based Compensation And Other Benefit Plans (Narrative) (Details)
Stock-Based Compensation And Other Benefit Plans (Schedules Of Restricted Stock And Performance-Based Rsu's) (Details)
Stock-Based Compensation And Other Benefit Plans (Valuation Assumptions) (Details)
Stock-Based Compensation And Other Benefit Plans (Schedule Of Stock Options) (Details)
Stock-Based Compensation And Other Benefit Plans (Employee Stock Purchase Plan) (Details)
Stock-Based Compensation And Other Benefit Plans (Schedule Of Stock-Based Compensation Expense Recognized In Our Consolidated Statements Of Income) (Details)
Stock-Based Compensation And Other Benefit Plans (Unrecognized Compensation Costs) (Details)
Stock-Based Compensation And Other Benefit Plans (Employer 401K Matching Contributions) (Details)
Net Income Per Share (Details)
Net Income Per Share (Narrative) (Details)
Segment And Geographic Information (Narrative) (Details)
Segment And Geographic Information (Schedule Of Reportable Segment Data) (Details)
Segment And Geographic Information (Reconciliation Of Total Segment Operating Income To Total Consolidated Operating Income) (Details)
Segment And Geographic Information (Schedule Of Product Revenue Information) (Details)
Segment And Geographic Information (Schedule Of Net Revenue By Geographic Location) (Details)
Segment And Geographic Information (Schedule Of Long-Lived Assets By Geographic Location) (Details)
Commitments And Contingencies (Narrative) (Details)
Commitments And Contingencies (Schedule Of Minimum Future Rentals) (Details)
Commitments And Contingencies (Schedule Of Unrecognized Purchase Obligations) (Details)
Commitments And Contingencies (Schedule Of Deemed Repatriation Taxes) (Details)
Subsequent Events (Details)

Material Contracts, Statements, Certifications & more

Symantec Corp provided additional information to their SEC Filing as exhibits

Ticker: SYMC
CIK: 849399
Form Type: 10-K Annual Report
Accession Number: 0001193125-18-309091
Submitted to the SEC: Fri Oct 26 2018 12:07:43 PM EST
Accepted by the SEC: Fri Oct 26 2018
Period: Friday, March 30, 2018
Industry: Prepackaged Software