Segment and Geographic Information

9 Months Ended

Dec. 31, 2021

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				Nine Months Ended
(In millions)	December 31, 2021		January 1, 2021		December 31, 2021		January 1, 2021
Consumer security	$	418	$	378	$	1,245	$	1,111
Identity and information protection	284		261		835		768
Total net revenues	$	702	$	639	$	2,080	$	1,879

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				Nine Months Ended
(In millions)	December 31, 2021		January 1, 2021		December 31, 2021		January 1, 2021
Americas	$	493	$	459	$	1,455	$	1,357
EMEA	128		102		380		296
APJ	81		78		245		226
Total net revenues	$	702	$	639	$	2,080	$	1,879

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 $467 million and $1,383 million during the three and nine months ended December 31, 2021, respectively, and $439 million and $1,294 million during the three and nine months ended January 1, 2021, 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)	December 31, 2021		April 2, 2021
U.S.	$	1,137	$	536
International	644		415
Total cash, cash equivalents and short-term investments	$	1,781	$	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)	December 31, 2021		April 2, 2021
U.S.	$	18	$	28
Ireland	29		32
Germany	14		14
Other countries (1)	2		4
Total property and equipment, net	$	63	$	78

(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)	December 31, 2021		April 2, 2021
U.S.	$	71	$	55
India	5		9
Other countries (1)	4		12
Total operating lease assets	$	80	$	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 nine months ended December 31, 2021 and January 1, 2021. Customers that accounted for over 10% of our net accounts receivable during fiscal 2022 were as follows:

	December 31, 2021		April 2, 2021
Customer A	46	%	46	%
Customer B	9	%	N/A