XML 22 R11.htm IDEA: XBRL DOCUMENT
v3.21.2

Discontinued Operations and Assets Held for Sale | 6 Months Ended
--- | ---
Oct. 01, 2021
Discontinued Operations and Disposal Groups [Abstract] |
Discontinued Operations and Assets Held for Sale | Discontinued Operations and Assets Held for Sale Discontinued operations On November 4, 2019, we completed the sale of certain of our Enterprise Security assets and certain liabilities to Broadcom Inc. (the Broadcom sale). Certain costs associated with the divestiture of our Enterprise Security business are classified as discontinued operations in our Condensed Consolidated Statements of Operations. During the three and six months ended October 2, 2020, costs included severance and termination benefits as part of our November 2019 restructuring plan. These activities were completed during fiscal 2021. See Note 12 for information associated with our restructuring activities. On October 1, 2020, we entered into multiple agreements with Broadcom for an aggregate amount of $200 million. We licensed Broadcom’s enterprise software, multiple security engines and related telemetry for 5.6 years, which will be amortized to continuing operations over the term of license. In addition, we resolved all outstanding payments and certain claims related to the asset purchase and transition services agreements, which is included in discontinued operations. In connection with the Broadcom sale, we entered into a transition services agreement under which we provided assistance to Broadcom including, but not limited to, business support services and information technology services. During fiscal 2021, the transition services were completed. Dedicated direct costs, net of charges to Broadcom, for these transition services were $1 million and $9 million during the three and six months ended October 2, 2020, respectively. These direct costs were presented as part of Other income (expense), net in the Condensed Consolidated Statements of Operations. The following table presents information regarding certain components of incom e (loss) from discontinued operations, net of income taxes during the three and six months ended October 2, 2020. There was no discontinued operations activity during the three and six months ended October 1, 2021.
|  |  | Three Months Ended |  |  |  | Six Months Ended
(In millions) |  |  | October 2, 2020 |  |  |  | October 2, 2020
Net revenues |  |  | $ | — |  |  |  |  | $ | — |
Gross profit |  |  | $ | — |  |  |  |  | $ | — |
Operating income (loss) |  |  | $ | (133) |  |  |  |  | $ | (175) |
Income (loss) before income taxes |  |  | $ | (132) |  |  |  |  | $ | (173) |
Income tax expense (benefit) |  |  | $ | (30) |  |  |  |  | $ | (40) |
Income (loss) from discontinued operations |  |  | $ | (102) |  |  |  |  | $ | (133) |
Assets held for sale During fiscal 2020, we reclassified certain land and buildings previously reported as property and equipment to assets held for sale when the properties were approved for immediate sale in their present condition and the sale was expected to be completed within one year. We continue to actively market the properties for sale; however, during fiscal 2022, the commercial real estate market continues to be adversely affected by the COVID-19 pandemic, which has delayed the expected timing of sale. We have taken into consideration the current real estate values and demand, and continue to execute plans to sell these properties. As of October 1, 2021, these assets are classified as assets held for sale. During the three and six months ended October 1, 2021, there were no impairments because the fair value of the properties less costs to sell either equals or exceeds their carrying value. On July 14, 2021, we completed the sale of certain land and buildings in Mountain View, California for cash consideration of $355 million, net of selling costs. We recognized a gain of $175 million on the sale. In conjunction with the sale, we signed a 7-year leaseback agreement for a portion of the property. See Note 9 for further information related to the sale leaseback.

X
- References No definition available. + Details
Name: | us-gaap_DiscontinuedOperationsAndDisposalGroupsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
Name: | us-gaap_DisposalGroupsIncludingDiscontinuedOperationsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration