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Segment and Geographic Information
 6 Months Ended
Sep. 29, 2023
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 and prioritize resources.
The following table summarizes net revenues for our major solutions:
Three Months EndedSix Months Ended
(In millions)September 29, 2023September 30, 2022September 29, 2023September 30, 2022
Consumer security revenues$604 $436 $1,202 $838 
Identity and information protection revenues328 298 659 592 
Total Cyber Safety revenues932 734 1,861 1,430 
Legacy revenues16 14 33 25 
Total net revenues (1)
$948 $748 $1,894 $1,455 
(1)     During the three months ended September 29, 2023, total net revenues include an unfavorable foreign exchange impact of $7 million from our consumer security solutions. During the six months ended September 29, 2023, total net revenues include an unfavorable foreign exchange impact of $16 million from our consumer security solutions.
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. The changes have been reflected for all periods presented above. Consumer security includes revenues from our Norton 360 Security offerings, Norton Security, Avast Security offerings, Norton Secure VPN, Avira Security and other consumer security and device performance solutions through our direct, partner and small business channels. Identity and information protection includes revenues from our Norton 360 with LifeLock offerings, LifeLock identity theft protection and other information protection and privacy solutions. Legacy includes revenues from products or solutions from markets that we have exited and in which we no longer operate, have been discontinued or identified to be discontinued, or remain in maintenance mode as a result of integration and product portfolio decisions.
Geographic information
Net revenues by geography are based on the billing addresses of our customers. The following table represents net revenues by geographic area at the end of each period presented:
Three Months EndedSix Months Ended
(In millions)September 29, 2023September 30, 2022September 29, 2023September 30, 2022
Americas$616 $529 $1,238 $1,037 
EMEA237 139 462 259 
APJ95 80 194 159 
Total net revenues (1)
$948 $748 $1,894 $1,455 
Note: The Americas include U.S., Canada and Latin America; EMEA includes Europe, Middle East and Africa; APJ includes Asia Pacific and Japan.
(1)     During the three months ended September 29, 2023, total net revenues include an unfavorable foreign exchange impact of $7 million, consisting of $6 million from EMEA and $1 million from APJ. During the six months ended September 29, 2023, total net revenues includes an unfavorable foreign exchange impact of $16 million, consisting of $13 million from EMEA and $3 million from APJ.
Revenues from customers inside the U.S. were $562 million and $1,127 million during the three and six months ended September 29, 2023, respectively, and $493 million and $972 million during the three and six months ended September 30, 2022 ,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)September 29, 2023March 31, 2023
U.S.$207 $178 
International422 572 
Total cash, cash equivalents and short-term investments$629 $750 
The table below represents our property and equipment, net of accumulated depreciation and amortization, by geographic areas, based on the physical location of the asset, at the end of each period presented.
(In millions)September 29, 2023March 31, 2023
U.S.$44 $38 
Czech Republic10 16 
Germany12 13 
Other countries (1)
9 9 
Total property and equipment, net$75 $76 
(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)September 29, 2023March 31, 2023
U.S.$27 $25 
Czech Republic7 12 
Other countries (1)
5 6 
Total operating lease assets$39 $43 
(1)     No other individual country represented more than 10% of the respective totals.
Significant customers and channel partners
No individual, end-user customer accounted for 10% or more of our net revenues during the six months ended September 29, 2023 and September 30, 2022.
Distributors that accounted for over 10% of our total billed and unbilled accounts receivable were as follows:
September 29, 2023March 31, 2023
Distributor A15 %13 %
Distributor B17 %14 %