2K Sports 2004 Annual Report Download - page 69

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21. RELATED PARTY TRANSACTIONS
Effective June 2004, warehouse operations for our Italian subsidiary are provided by an entity owned by the
Managing Director of the subsidiary. In 2004, the Company paid $202 for these services. The Company
believes this arrangement is on terms no less favorable than could be obtained from an unaffiliated third-party.
The Company’s former corporate headquarters were leased under a non-cancelable operating lease with a
company controlled by the father of the former chairman of the board. The lease expired in March 2004. Rent
expense and certain utility expenses under this lease amounted to $166, $444, and $403, for the years ended
October 31, 2004, 2003, and 2002, respectively.
TAKE-TWO INTERACTIVE SOFTWARE, INC. and SUBSIDIARIES
Notes to Consolidated Financial Statements (Continued)
(Dollars in thousands, except per share amounts)
61