Blizzard 2008 Annual Report Download - page 49

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ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Amounts in millions, except share data)
At
December 31,
2008 At December 31,
2007
(As Adjusted)
Assets
Current assets:
Cash and cash equivalents ............................................................................................................................. $2,958 $62
Short-term investments.................................................................................................................................. 44 3
Accounts receivable, net of allowances of $268 million and $86 million at December 31, 2008 and
2007, respectively.......................................................................................................................................... 1,210 112
Inventories...................................................................................................................................................... 262 21
Software development ................................................................................................................................... 235 25
Intellectual property licenses......................................................................................................................... 35 9
Deferred income taxes, net ............................................................................................................................ 536 143
Intangible assets, net...................................................................................................................................... 14 —
Other current assets........................................................................................................................................ 201 23
Total current assets ........................................................................................................................................ 5,495 398
Long-term investments .................................................................................................................................. 78 —
Software development ................................................................................................................................... 1 51
Intellectual property licenses......................................................................................................................... 5 8
Property and equipment, net.......................................................................................................................... 149 129
Deferred income taxes, net ............................................................................................................................ — 24
Other assets.................................................................................................................................................... 30 6
Intangible assets, net...................................................................................................................................... 1,283 7
Trade names................................................................................................................................................... 433 53
Goodwill ........................................................................................................................................................ 7,227 203
Total assets.................................................................................................................................................... $14,701 $879
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable........................................................................................................................................... $555 $49
Deferred revenues.......................................................................................................................................... 923 197
Accrued expenses and other liabilities .......................................................................................................... 842 282
Total current liabilities................................................................................................................................... 2,320 528
Deferred income taxes, net ............................................................................................................................ 615 —
Other liabilities .............................................................................................................................................. 239 111
Total liabilities.............................................................................................................................................. 3,174 639
Commitments and contingencies (Note 18)
Shareholders’ equity:
Common stock, $.000001 par value, 2,400,000,000 shares authorized, 1,312,238,767 and 590,618,180
shares issued at December 31, 2008 and 2007, respectively ........................................................................ — —
Additional paid-in capital .............................................................................................................................. 12,170 490
Less: Treasury stock, at cost, 12,967,265 and 0 shares at December 31, 2008 and 2007, respectively ...... (126) —
Net payable to Vivendi and affiliated companies ......................................................................................... — 77
Accumulated deficit....................................................................................................................................... (474) (367)
Accumulated other comprehensive income (loss)......................................................................................... (43) 40
Total shareholders’ equity .......................................................................................................................... 11,527 240
Total liabilities and shareholders’ equity.................................................................................................. $14,701 $879
The accompanying notes are an integral part of these Consolidated Financial Statements.