Segment and Geographic Information

3 Months Ended

Jul. 02, 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
(In millions)	July 2, 2021		July 3, 2020
Consumer security	$	412	$	363
Identity and information protection	274		251
Total net revenues	$	686	$	614

Consumer security products include our Norton 360 Security offerings, Norton Security, Norton Secure VPN, Avira Security, 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.

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 2, 2021		July 3, 2020
Americas	$	477	$	448
EMEA	127		96
APJ	82		70
Total net revenues	$	686	$	614

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 $456 million and $427 million during the three months ended July 2, 2021 and July 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)	July 2, 2021		April 2, 2021
U.S.	$	772	$	536
International	473		415
Total cash, cash equivalents and short-term investments	$	1,245	$	951

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 2, 2021		April 2, 2021
U.S.	$	22	$	28
Ireland	32		32
Germany	14		14
Other countries	3		4
Total property and equipment, net	$	71	$	78

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 2, 2021		April 2, 2021
U.S.	$	52	$	55
India	8		9
Other countries (1)	11		12
Total operating lease assets	$	71	$	76

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

Significant customers

No customer accounted for 10% or more of our net revenues during the three months ended July 2, 2021.Customers that accounted for over 10% of our net accounts receivable were as follows:

	July 2, 2021		April 2, 2021
Customer A	44	%	46	%