Acquisitions and Divestitures (Tables)

9 Months Ended

Dec. 29, 2017

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition

Our preliminary allocation of the aggregate purchase price for these two acquisitions, based on the estimated fair values of the assets acquired and liabilities assumed in July 2017, and the related weighted-average estimated useful lives, is as follows:

(In millions, except useful lives)	July 24, 2017			Weighted-Average Estimated Useful Life
Developed technology	$	123		5.5 years
Customer relationships	11			7 years
Goodwill	247
Deferred income tax liabilities	(35		)
Other liabilities	(1		)
Total purchase price	$	345

Pro Forma Information

The following table summarizes the pro forma financial information:

	December 30, 2016
(In millions)	Three Months Ended		Nine Months Ended
Net revenues	$	1,041	$	3,127
Net income (loss)	$	55	$	(64	)

Summary of Components of Divested and Discontinued Operations

As of the transaction close date, the carrying amounts of the major classes of assets and liabilities associated with the divestiture of our WSS and PKI solutions were as follows:

(In millions)	October 31, 2017
Assets:
Cash and cash equivalents	$	2
Accounts receivable, net	34
Goodwill and intangible assets, net	670
Other assets	40
Total assets	746
Liabilities:
Deferred revenue	285
Other liabilities	11
Total liabilities	$	296

The following table presents the income before income taxes for our WSS and PKI solutions for the periods indicated:

	Three Months Ended				Nine Months Ended
(In millions)	December 29, 2017		December 30, 2016		December 29, 2017		December 30, 2016
Income before income taxes	$	8	$	49	$	66	$	157

The following table presents the gain before income taxes associated with the divestiture:

(In millions)
Gain on divestiture:
Gain on sale of short-term investment	$	7
Gain on sale of other assets and liabilities	651
Total gain on divestiture	$	658

The following table presents information regarding certain components of income from discontinued operations, net of income taxes:

	Three Months Ended						Nine Months Ended
(In millions)	December 29, 2017			December 30, 2016			December 29, 2017			December 30, 2016
Net revenues	$	14		$	22		$	51		$	145
Cost of revenues	(5		)	(3		)	(21		)	(12		)
Operating expenses	(8		)	(2		)	(11		)	(26		)
Gain on sale of Veritas	—			—			—			38
Income from discontinued operations before income taxes	1			17			19			145
Income tax expense (benefit)	(30		)	(85		)	7			49
Income from discontinued operations, net of income taxes	$	31		$	102		$	12		$	96