XML 52 R28.htm IDEA: XBRL DOCUMENT v2.4.0.6
Subsequent Events
12 Months Ended
Mar. 31, 2013
Subsequent Events [Abstract]  
Subsequent Events
Note 19 — Subsequent Events
On April 22, 2013, the Company entered into a definitive agreement to acquire all of the outstanding stock of Layer 7 Technologies, a leading provider of Application Programming Interface management and security software, for an aggregate purchase price of approximately $155 million in cash.  The acquisition is expected to close in the first quarter of fiscal year 2014.
On May 1, 2013, the Company's Board of Directors approved a re-balancing plan (Fiscal 2014 Plan) to better align its business priorities.  The Fiscal 2014 Plan comprises the termination of approximately 1,200 employees and global facilities consolidations. The Company intends to fill most of the positions involved in the re-balancing over the next 12 months with new employees that have skills to enable the Company to better focus its resources on priority products and market segments. The Fiscal 2014 Plan includes streamlining the Company's sales structure to eliminate redundancies while maintaining its focus on customers. In addition, the Company will be consolidating its development sites into development hubs to promote collaboration and agile development. Actions under the Fiscal 2014 Plan are expected to be substantially completed by the end of fiscal year 2014.  Under the Fiscal 2014 Plan, the Company expects to incur a pre-tax charge of approximately $150 million (including severance costs of approximately $120 million and global facilities consolidation costs of approximately $30 million).
On May 7, 2013, the Company received final approval by the Joint Committee of Taxation on the IRS examination of the Company's federal income tax returns for the tax years ended March 31, 2005, 2006 and 2007. As a result, the Company estimates it will record an income tax benefit of approximately $165 million to $185 million, a reduction of the balance of unrecognized tax benefits of approximately $235 million and a cash tax refund of approximately $70 million to $80 million in fiscal year 2014.