4 unchanged sentences
A substantially greater number of holders of our common stock are "street name" or beneficial holders, whose shares of record are held by banks, brokers, and other financial institutions.
−Removed: S tock performance graph
+Added: Stock performance graph
The graph below compares the cumulative total stockholder return on our common stock with the cumulative total return on the S&P 500 Composite Index and the S&P Information Technology Index for the five fiscal years ended April 2, 2021 (assuming the initial investment of $100 in our common stock and in each of the other indices on the last day of trading for fiscal 2016 and the reinvestment of all dividends).
4 unchanged sentences
This performance graph shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of NortonLifeLock under the Securities Act or the Exchange Act.
−Removed: Unregistered sale of equity securities
−Removed: On January 6, 2020, we issued 1 million shares of our common stock to three individuals upon the accelerated vesting of stock awards issued in connection with our acquisition of Luminate Security in February 2019.
−Removed: The issuance of the above securities was deemed to be exempt from registration under the Securities Act in reliance upon Section 4(a)(2) of the Securities Act (or Regulation D or Regulation S promulgated thereunder) as transactions by an issuer not involving any public offering.
Repurchases of our equity securities
Under our stock repurchase programs, shares may be repurchased on the open market and through accelerated stock repurchase transactions.
−Removed: In August 2019, our Board of Directors increased the share repurchase authorization to $1,600 million.
−Removed: As of April 3, 2020 , we have $578 million remaining authorized to be completed in future periods with no expiration date.
+Added: As of April 2, 2021, we had $274 million remaining authorized to be completed in future periods.
+Added: On May 4, 2021, our Board of Directors approved an incremental share repurchase authorization of $1,500 million bringing the total authorized under the stock repurchase program to $1,774 million.
+Added: The authorization does not have an expiration date.
Stock repurchases during the three months ended April 2, 2021, were as follows:
−Removed: (In millions, except per share data)
−Removed: Total Number of Shares Purchased (1)
+Added: (In millions, except per share data) Total Number of Shares Purchased (1)
Average Price Paid per Share
−Removed: Total Number of Shares Purchased as Part of Publicly Announced Program
−Removed: Maximum Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs
+Added: Total Number of Shares Purchased as Part of Publicly Announced Program Maximum Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs
January 2, 2021 to January 29, 2021 5 $ 20.80 5 $ 323
−Removed: February 1, 2020 to February 28, 2020
+Added: January 30, 2021 to February 26, 2021 2 $ 20.28 2 $ 284
February 27, 2021 to April 2, 2021 (2)
+Added: — $ 20.01 — $ 274
Total number of shares repurchased 7 7
1 unchanged sentence
Repurchases of 1 million shares, which were executed prior to January 2, 2021, settled during the period of January 2, 2021 to January 29, 2021 .
+Added: (2) The number of shares is less than 1 million.
Selected Financial Data
−Removed: The following selected consolidated financial data is derived from our Consolidated Financial Statements.
−Removed: This data should be read in conjunction with our Consolidated Financial Statements and related notes included in this annual report and with Item 7.
−Removed: Management’s Discussion and Analysis of Financial Condition and Results of Operations .
−Removed: Historical results may not be indicative of future results.
−Removed: Five-Year Summary
−Removed: Summary of Operations:
−Removed: Year Ended (1)
−Removed: (In millions, except per share data)
−Removed: April 3, 2020 (2)
−Removed: March 29, 2019 (3)
−Removed: March 30, 2018 (4)
−Removed: March 31, 2017 (5)
−Removed: April 1, 2016 (6)
−Removed: Operating income (loss)
−Removed: Income (loss) from continuing operations
−Removed: Income from discontinued operations (5)
−Removed: Net income (loss)
−Removed: Income (loss) per share - basic:
−Removed: Continuing operations
−Removed: Discontinued operations
−Removed: Net income (loss) per share - basic
−Removed: Income (loss) per share - diluted:
−Removed: Continuing operations
−Removed: Discontinued operations
−Removed: Net income (loss) per share - diluted
−Removed: Cash dividends declared per common share
−Removed: Consolidated Balance Sheets Data:
−Removed: (In millions)
−Removed: April 3, 2020
−Removed: March 29, 2019
−Removed: March 30, 2018
−Removed: March 31, 2017
−Removed: Cash, cash equivalents and short-term investments
−Removed: Long-term debt
−Removed: Total stockholders’ equity
−Removed: We have a 52/53-week fiscal year.
−Removed: Our fiscal 2020 was a 53-week year, whereas fiscal 2019, 2018, 2017, and 2016 each consisted of 52 weeks.
−Removed: In fiscal 2020, we completed the sale of certain assets and the assumption of certain liabilities of our Enterprise Security business to Broadcom Inc.
−Removed: (the Broadcom sale) and recognized a gain of $5,434 million before income taxes, which is presented within income from income from discontinued operations.
−Removed: In connection with the Broadcom sale, we made a distribution to our stockholders through a special dividend of $12 per share of common stock.
−Removed: The aggregate amount of such dividend payments was $7.2 billion.
−Removed: We also recognized gains of $379 million and $250 million before income taxes on our sale of equity interest in DigiCert and divestiture of ID Analytics, respectively.
−Removed: Both gains were recognized within continuing operations.
−Removed: In the first quarter of fiscal 2019, we adopted the new revenue recognition accounting standard on a modified retrospective basis.
−Removed: The results for fiscal 2020 and 2019 are presented under the new revenue recognition accounting standard, while prior years are not adjusted.
−Removed: In fiscal 2018, we sold Website Security and Public Key Infrastructure solutions and recognized a gain of $653 million before income taxes associated with the sale (see Note 3 to the Consolidated Financial Statements), and we recognized an income tax benefit of $659 million as a result of the enactment of the Tax Cuts and Jobs Act (H.R.1).
−Removed: In fiscal 2017, we acquired Blue Coat and LifeLock, and the results of operations of those entities were included from their respective dates of acquisition.
−Removed: In fiscal 2016, we recorded $1.1 billion in income tax expense related to unremitted earnings of foreign subsidiaries from the proceeds of the sale of our Veritas information management business.
−Removed: This charge was recognized within continuing operations.
−Removed: As a result of the sale of Veritas, a net gain of $3.0 billion was recognized within discontinued operations, net of income taxes.
−Removed: Net income per share amounts may not add due to rounding.
+Added: This item is no longer required, as we have elected to early adopt the amendment to Item 301 of Regulation S-K contained in SEC Release No.
+Added: 33-10890, which became effective on February 10, 2021.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.