Electronic Arts 2008 Annual Report Download - page 160
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(8) BALANCE SHEET DETAILS
(a) Inventories
Inventories as of March 31, 2008 and 2007 consisted of (in millions):
2008 2007
As of March 31,
Raw materials and work in process ........................................... $ 4 $ 1
In-transit inventory ....................................................... 43 —
Finished goods .......................................................... 121 61
Inventories............................................................ $168 $62
(b) Property and Equipment, Net
Property and equipment, net, as of March 31, 2008 and 2007 consisted of (in millions):
2008 2007
As of March 31,
Computer equipment and software ........................................... $ 643 $ 555
Buildings ............................................................. 151 194
Leasehold improvements .................................................. 131 110
Office equipment, furniture and fixtures ....................................... 77 70
Land................................................................. 11 65
Warehouse equipment and other ............................................ 11 10
Construction in progress .................................................. 14 10
1,038 1,014
Less accumulated depreciation . ............................................. (642) (530)
Property and equipment, net ............................................. $ 396 $ 484
During the three months ended December 31, 2007, we commenced marketing our facility in Chertsey,
England for sale. Therefore, we reclassified the estimated fair value of the Chertsey facility from property and
equipment, net, to other current assets as an asset held for sale on our Consolidated Balance Sheet.
Depreciation expense associated with property and equipment amounted to $126 million, $113 million and
$79 million for the fiscal years ended March 31, 2008, 2007 and 2006, respectively.
(c) Accrued and Other Current Liabilities
Accrued and other current liabilities as of March 31, 2008 and 2007 consisted of (in millions):
2008 2007
As of March 31,
Accrued royalties ......................................................... $200 $ 91
Other accrued expenses..................................................... 199 175
Accrued compensation and benefits ............................................ 189 206
Deferred net revenue (other) ................................................. 73 58
Accrued income taxes ...................................................... 22 284
Accrued and other current liabilities ......................................... $683 $814
Deferred net revenue (other), includes the deferral of subscription revenue, deferrals related to our Switzerland
distribution business, advertising revenue, licensing arrangements and other revenue for which revenue
recognition criteria has not been met.
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