Blizzard 2004 Annual Report Download - page 40

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(In thousands, except share data)
March 31, 2004 2003
Assets
Current assets:
Cash and cash equivalents $ 466,552 $ 285,554
Short-term investments 121,097 121,400
Accounts receivable, net of allowances of $47,028 and
$57,356 at March 31, 2004 and 2003, respectively 62,577 15,822
Inventories 26,427 19,577
Software development 58,320 26,791
Intellectual property licenses 32,115 8,906
Deferred income taxes 26,127 38,290
Other current assets 18,660 10,565
Total current assets 811,875 526,905
Software development 28,386 35,281
Intellectual property licenses 16,380 36,943
Property and equipment, net 25,539 22,265
Deferred income taxes 9,064 10,322
Other assets 1,080 5,081
Goodwill 76,493 68,019
Total assets $ 968,817 $ 704,816
Liabilities and Shareholders’ Equity
Current liabilities:
Current portion of long-term debt $ — $ 147
Accounts payable 72,874 45,602
Accrued expenses 63,205 58,656
Total current liabilities 136,079 104,405
Long-term debt, less current portion —2,671
Total liabilities 136,079 107,076
Commitments and contingencies (Note 14)
Shareholders’ equity:
Preferred stock, $.000001 par value, 3,750,000 shares authorized,
no shares issued at March 31, 2004 and 2003 ——
Series A Junior Preferred stock, $.000001 par value, 1,250,000 shares
authorized, no shares issued at March 31, 2004 and 2003 ——
Common stock, $.000001 par value, 225,000,000 and 125,000,000
shares authorized, 166,876,567 and 161,059,091 shares issued and
137,331,242 and 135,126,368 shares outstanding at March 31,
2004 and 2003, respectively ——
Additional paid-in capital 758,626 592,295
Retained earnings 208,279 130,564
Less: Treasury stock, at cost, 29,545,325 and 25,932,723 shares as of
March 31, 2004 and 2003, respectively (144,128) (121,685)
Accumulated other comprehensive income (loss) 9,961 (3,434)
Total shareholders’ equity 832,738 597,740
Total liabilities and shareholders’ equity $ 968,817 $ 704,816
The accompanying notes are an integral part of these consolidated financial statements.
Consolidated Balance Sheets
Activision, Inc. — 2004 Annual Report
page 42