Segment and Geographic Information

9 Months Ended

Jan. 01, 2021

Segment Reporting [Abstract]

Segment and Geographic Information

Segment and Geographic Information

We 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				Nine Months Ended
(In millions)	January 1, 2021		January 3, 2020		January 1, 2021		January 3, 2020
Consumer security	$	378	$	356	$	1,111	$	1,091
Identity and information protection	261		247		768		743
ID Analytics	—		15		—		42
Total net revenues	$	639	$	618	$	1,879	$	1,876

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				Nine Months Ended
(In millions)	January 1, 2021		January 3, 2020		January 1, 2021		January 3, 2020
Americas	$	459	$	454	$	1,357	$	1,380
EMEA	102		93		296		282
APJ	78		71		226		214
Total net revenues	$	639	$	618	$	1,879	$	1,876

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 $439 million and $1,294 million during the three and nine months ended January 1, 2021, respectively, and $433 million and $1,316 million during the three and nine months ended January 3, 2020, 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)	January 1, 2021		April 3, 2020
U.S.	$	674	$	1,345
International	399		918
Total cash, cash equivalents and short-term investments	$	1,073	$	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)	January 1, 2021		April 3, 2020
U.S.	$	33	$	174
Ireland	35		34
Other countries (1)	2		30
Total property and equipment, net	$	70	$	238

(1)No other 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)	January 1, 2021		April 3, 2020
U.S.	$	58	$	40
India	10		11
Japan	6		10
Other countries (1)	6		27
Total operating lease assets	$	80	$	88

(1)No other 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:

	January 1, 2021		April 3, 2020
Customer A	45	%	39	%