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Discontinued Operations
 9 Months Ended
Dec. 30, 2016
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
Discontinued Operations
On January 29, 2016, we completed the sale of our former information management business (“Veritas”). The results of Veritas are presented as discontinued operations in our Condensed Consolidated Statements of Operations and thus have been excluded from continuing operations and segment results for all reported periods.
In connection with the divestiture, Symantec and Veritas entered into Transition Service Agreements (“TSA”) pursuant to which we provide Veritas certain limited services including financial support services, information technology services, and access to facilities, and Veritas provides us certain limited financial support services. The TSAs commenced with the close of the transaction and expire at various dates through fiscal 2019. During the nine months ended December 30, 2016, we recorded income of $21 million for all services provided to Veritas, which is presented as part of other income (expense), net in the Condensed Consolidated Statements of Operations.
We also have retained various customer relationships and contracts that were reported historically as a part of the Veritas business. Approximately $80 million related to these relationships and contracts have been reported as part of our deferred revenue in the Condensed Consolidated Balance Sheet as of December 30, 2016, along with a $48 million asset representing the service and maintenance rights we have under an agreement with Veritas. These balances will be amortized to discontinued operations through the remaining term of the underlying contracts.
The following table presents information regarding certain components of income from discontinued operations, net of income taxes:
 
Three Months Ended
 
Nine Months Ended
 
December 30,
2016
 
January 1,
2016
 
December 30,
2016
 
January 1,
2016
 
(In millions)
Net revenues
$
22

 
$
570

 
$
145

 
$
1,749

Cost of revenues
(3
)
 
(92
)
 
(12
)
 
(292
)
Operating expenses
(2
)
 
(377
)
 
(26
)
 
(1,135
)
Gain on sale of Veritas
—

 
—

 
38

 
—

Other expense, net
—

 
8

 
—

 
2

Income from discontinued operations before income taxes
17

 
109

 
145

 
324

Income taxes expense (benefit)
(85
)
 
53

 
49

 
73

Income from discontinued operations, net of income taxes
$
102

 
$
56

 
$
96

 
$
251


During the first quarter of fiscal 2017, we received an additional payment of $38 million, which represented a purchase price adjustment for the sale of Veritas.