Segment and Geographic Information

3 Months Ended

Jul. 03, 2020

Segment Reporting [Abstract]

Segment and Geographic Information

Segment and Geographic InformationWe operate as one reportable segment. Our Chief Operating Decision Maker reviews financial information presented on a consolidated basis to evaluate company performance and to allocate resources.

The following table summarizes net revenues for our major solutions:

	Three Months Ended
(In millions)	July 3, 2020		July 5, 2019
Consumer security	$	363	$	381
Identity and information protection	251		255
ID Analytics	—		14
Total net revenues	$	614	$	650

From time to time, changes in our product hierarchy cause changes to the product categories above. When changes occur, we recast historical amounts to match the current product hierarchy. Consumer security products include our Norton 360 Security offerings, Norton Security, Norton Secure VPN, and other consumer security solutions. Identity and information protection products include our Norton 360 with LifeLock offerings, LifeLock identity theft protection and other information protection solutions. Our ID Analytics solutions were divested on January 31, 2020.

Geographic information

Net revenues by geography are based on the billing addresses of our customers. The following table represents net revenues by geographic area for the periods presented:

	Three Months Ended
(In millions)	July 3, 2020		July 5, 2019
Americas	$	448	$	479
EMEA	96		97
APJ	70		74
Total net revenues	$	614	$	650

Note: The Americas include U.S., Canada and Latin America; EMEA includes Europe, Middle East and Africa; APJ includes Asia Pacific and Japan.

Revenues from customers inside the U.S. were $427 million and $456 million during the three months ended July 3, 2020 and July 5, 2019, respectively. No other individual country accounted for more than 10% of revenues.

The table below represents cash, cash equivalents and short-term investments held in the U.S. and internationally in various foreign subsidiaries.

(In millions)	July 3, 2020		April 3, 2020
U.S.	$	412	$	1,345
International	719		918
Total cash, cash equivalents and short-term investments	$	1,131	$	2,263

The table below represents our property and equipment, net of accumulated depreciation and amortization, by geographic area, based on the physical location of the asset, at the end of each period presented.

(In millions)	July 3, 2020		April 3, 2020
U.S.	$	49	$	174
Ireland	34		34
Other countries (1)	5		30
Total property and equipment, net	$	88	$	238

(1)No individual country represented more than 10% of the respective totals.

Our operating lease assets by geographic area, based on the physical location of the asset, at the end of each period presented, are as follows:

(In millions)	July 3, 2020		April 3, 2020
U.S.	$	36	$	40
India	11		11
Japan	8		10
Other countries (1)	7		27
Total operating lease assets	$	62	$	88

(1)No individual country represented more than 10% of the respective totals.

Significant customers

Customers that accounted for over 10% of our net accounts receivable were as follows:

	July 3, 2020		April 3, 2020
Customer A	45	%	39	%