Blizzard 2011 Annual Report Download - page 86

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ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES
FINANCIAL INFORMATION
For the Year Ended December 31, 2011, 2010 and 2009
(Amounts in millions)
Year Ended
December 31, 2011 December 31, 2010 December 31, 2009
Amount % of Total Amount % of Total Amount % of Total
GAAP Net Revenues by Distribution Channel
Retail channel $ 2,697 57 % $ 2,629 59 %$ 2,622 61 %
Digital online channels* 1,640 34 1,440 32 1,234 29
Total Activision and Blizzard 4,337 91 4,069 91 3,856 90
Distribution 418 9 378 9 423 10
Total consolidated GAAP net revenues 4,755 100 4,447 100 4,279 100
Change in Deferred Net Revenues1
Retail channel (185) 251 457
Digital online channels* (81) 105 39
Total changes in deferred net revenues (266) 356 496
Non-GAAP Net Revenues by Distribution Channel
Retail channel 2,512 56 2,880 60 3,079 64
Digital online channels* 1,559 35 1,545 32 1,273 27
Total Activision and Blizzard 4,071 91 4,425 92 4,352 91
Distribution 418 9 378 8 423 9
Total non-GAAP net revenues 2 $ 4,489 100 % $ 4,803 100 %$ 4,775 100 %
1 We provide net revenues including (in accordance with GAAP) and excluding (non-GAAP) the impact of changes in deferred net revenues.
2 Total non-GAAP net revenues presented also represents our total operating segment net revenues.
* Net revenues from digital online channel represent revenues from subscriptions and memberships, licensing royalties, value-added services, downloadable content, digitally
distributed products, and wireless devices.
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