Blizzard 2010 Annual Report Download - page 43

Download and view the complete annual report

Please find page 43 of the 2010 Blizzard annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 94

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94

31
ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Amounts in millions, except share data)
At December 31,
2010
At December 31,
2009
Assets
Current assets:
Cash and cash equivalents ............................................................................................. $2,812 $2,768
Short-term investments .................................................................................................. 696 477
Accounts receivable, net of allowances of $377 million and $317 million at
December 31, 2010 and 2009, respectively ............................................................... 640 739
Inventories ..................................................................................................................... 112 241
Software development ................................................................................................... 147 224
Intellectual property licenses ......................................................................................... 45 55
Deferred income taxes, net ............................................................................................ 640 498
Other current assets ........................................................................................................ 293 327
Total current assets .................................................................................................... 5,385 5,329
Long-term investments .................................................................................................. 23 23
Software development ................................................................................................... 55 10
Intellectual property licenses ......................................................................................... 28 28
Property and equipment, net .......................................................................................... 169 138
Other assets .................................................................................................................... 21 9
Intangible assets, net ...................................................................................................... 160 618
Trademark and trade names ........................................................................................... 433 433
Goodwill ........................................................................................................................ 7,132 7,154
Total assets ................................................................................................................. $13,406 $13,742
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable ........................................................................................................... $363 $302
Deferred revenues .......................................................................................................... 1,726 1,426
Accrued expenses and other liabilities ........................................................................... 818 779
Total current liabilities ............................................................................................... 2,907 2,507
Deferred income taxes, net ............................................................................................ 112 270
Other liabilities .............................................................................................................. 184 209
Total liabilities ........................................................................................................... 3,203 2,986
Commitments and contingencies (Note 18)
Shareholders’ equity:
Common stock, $0.000001 par value, 2,400,000,000 shares authorized,
1,382,479,839 and 1,364,117,675 shares issued at December 31, 2010 and 2009,
respectively ................................................................................................................ — —
Additional paid-in capital .............................................................................................. 12,353 12,376
Less: Treasury stock, at cost, 199,159,987 and 113,686,498 at December 31, 2010
and 2009, respectively ............................................................................................... (2,194) (1,235)
Retained earnings (accumulated deficit) ........................................................................ 57 (361)
Accumulated other comprehensive loss ......................................................................... (13) (24)
Total shareholders’ equity.......................................................................................... 10,203 10,756
Total liabilities and shareholders’ equity ................................................................... $13,406 $13,742
The accompanying notes are an integral part of these Consolidated Financial Statements.