Blizzard 2005 Annual Report Download - page 56

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(In thousands, except share data)
March 31, 2005 2004
ASSETS
฀ ฀Current฀assets:
฀ ฀ ฀Cash฀and฀cash฀equivalents $ 313,608 $ 165,120
฀ ฀ ฀Short-term฀investments 527,256 422,529
฀ ฀ ฀Accounts฀receivable,฀net฀of฀allowances฀of฀$69,191฀and฀$47,028฀at฀March฀31,฀2005฀and฀2004,฀respectively 109,144 62,577
฀ ฀ ฀Inventories 48,018 26,427
฀ ฀ ฀Software฀development 73,096 58,320
฀ ฀ ฀Intellectual฀property฀licenses 21,572 32,115
฀ ฀ ฀Deferred฀income฀taxes 6,760 26,127
฀ ฀ ฀Other฀current฀assets 23,010 18,660
฀ ฀ ฀ ฀ ฀Total฀current฀assets 1,122,464 811,875
฀ ฀Software฀development 18,518 28,386
฀ ฀Intellectual฀property฀licenses 14,154 16,380
฀ ฀Property฀and฀equipment,฀net 30,490 25,539
฀ ฀Deferred฀income฀taxes 28,041 9,064
฀ ฀Other฀assets 1,635 1,080
฀ ฀Goodwill 91,661 76,493
฀ ฀ ฀ ฀ ฀Total฀assets $ 1,306,963 $ 968,817
LIABILITIES AND SHAREHOLDERS’ EQUITY
฀ ฀Current฀liabilities:
฀ ฀ ฀Accounts฀payable $ 108,984 $ 72,874
฀ ฀ ฀Accrued฀expenses 98,067 63,205
฀ ฀ ฀ ฀ ฀Total฀liabilities 207,051 136,079
฀ ฀Commitments฀and฀contingencies฀(Note฀13)
฀ ฀Shareholders’฀equity:
฀ ฀ ฀Preferred฀stock,฀$.000001฀par฀value,฀3,750,000฀shares฀authorized,฀no฀shares฀issued฀at฀March฀31,฀2005฀and฀2004 ——
฀ ฀ ฀Series฀A฀Junior฀Preferred฀stock,฀$.000001฀par฀value,฀1,250,000฀shares฀authorized,฀no฀shares฀issued฀at฀
March฀31,฀2005฀and฀2004 ——
฀ ฀ ฀Common฀stock,฀$.000001฀par฀value,฀225,000,000฀shares฀authorized,฀201,030,623฀and฀222,502,089฀shares฀
issued฀and฀201,030,623฀and฀183,108,323฀shares฀outstanding฀at฀March฀31,฀2005฀and฀2004,฀respectively ——
฀ ฀ ฀Additional฀paid-in฀capital 741,680 758,626
฀ ฀ ฀Retained฀earnings 346,614 208,279
฀ ฀ ฀Less:฀Treasury฀stock,฀at฀cost,฀no฀shares฀and฀39,393,765฀shares฀as฀of฀March฀31,฀2005฀and฀2004,฀respectively —(144,128)
฀ ฀ ฀Accumulated฀other฀comprehensive฀income 11,618 9,961
฀ ฀ ฀ ฀ ฀Total฀shareholders’฀equity 1,099,912 832,738
฀ ฀ ฀ ฀ ฀Total฀liabilities฀and฀shareholders’฀equity $ 1,306,963 $ 968,817
The accompanying notes are an integral part of these consolidated financial statements.
Consolidated Balance Sheets
page 54
Activision, Inc. — 2005 Annual Report