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Business Combinations | 3 Months Ended
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Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract] |
Business Combinations | Business Combinations Fiscal 2023 Avast acquisition During the second quarter of fiscal 2023, we acquired all of the outstanding common stock of Avast. Prior to the acquisition, Avast was a global leader in consumer cybersecurity, offering a comprehensive range of digital security and privacy products and services that protected and enhanced users’ online experiences. With this acquisition, we are positioned to provide a broad and complementary consumer product portfolio with greater geographic diversification and access to a larger user base. The total consideration for the acquisition of Avast was approximately $8,688 million, net of cash acquired. Our current allocation of the aggregate purchase price, based on the estimated fair values of the assets acquired and liabilities assumed, as of the acquisition date, inclusive of measurement period adjustments, is as follows:
(In millions) | September 12, 2022
Assets: |
Accounts receivable | $ | 63 |
Other current assets | 17 |
Property and equipment | 33 |
Operating lease assets | 18 |
Intangible assets | 2,383 |
Goodwill | 7,349 |
Other long-term assets | 11 |
Total assets acquired | 9,874 |
Liabilities: |
Current liabilities | 180 |
Contract liabilities | 509 |
Operating lease liabilities | 18 |
Long-term deferred tax liabilities | 433 |
Other long-term obligations | 46 |
Total liabilities assumed | 1,186 |
Total purchase price | $ | 8,688 |
The allocation of the purchase price is based upon a preliminary valuation, and as additional information becomes available, our estimates and assumptions may be subject to refinement within the measurement period, which may be up to one year from the acquisition date. Adjustments to the purchase price may require adjustments to goodwill prospectively. The primary area of preliminary purchase price allocation that is not yet finalized are certain tax matters. There were immaterial measurement period adjustments during the three months ended June 30, 2023.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-5 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//805/tableOfContent + Details
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