THQ 2005 Annual Report Download - page 76

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See notes to consolidated financial statements.
53
Part I—Financial Information
Item 1. Financial Statements.
THQ INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In thousands, except share data)
March 31, March 31,
2005 2004
ASSETS
Current assets:
Cash and cashequivalents..................................................... $98,175 $ 81,242
Short-term investments....................................................... 232,998 171,797
Cash, cash equivalents and short-term investments.............................. 331,173 253,039
Accounts receivable, net of allowances .......................................... 73,700 59,088
Inventory ................................................................... 23,802 22,303
Licenses .................................................................... 12,464 13,172
Software development ........................................................ 57,107 39,997
Income taxes receivable ....................................................... 9,783 —
Prepaid expenses and other current assets....................................... 14,530 9,451
Total current assets........................................................ 522,559 397,050
Property and equipment, net..................................................... 26,822 17,468
Licenses, net of current portion .................................................. 75,523 9,068
Software development, net ofcurrent portion...................................... 8,144 9,798
Deferred income taxes .......................................................... —560
Income taxes receivable, net ofcurrent portion..................................... 9,513 —
Goodwill, net.................................................................. 83,440 59,399
Long-term marketable securities................................................. —24,320
Other long-term assets, net ...................................................... 21,392 9,488
TOTAL ASSETS .......................................................... $747,393 $ 5 27,151
LIABILITIES, MINORITY INTEREST AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable ............................................................ $36,499 $ 22,147
Accrued liabilities............................................................ 43,745 22,361
Accrued payment to venture partner ............................................ 639 746
Accrued royalties ............................................................ 33,148 41,305
Income taxes payable ......................................................... —216
Deferred income taxes ........................................................ 6,841 642
Total current liabilities...................................................... 120,872 87,417
Accrued liabilities, net of current portion .......................................... 2,059 —
Accrued royalties, net of current portion........................................... 70,000 1,142
Deferred income taxes, net of current portion ...................................... 4,466 —
Commitments and contingencies................................................. ——
Minority interest. .............................................................. 1,238 —
Stockholders’ equity:
Preferred stock, par value $0.01, 1,000,000 shares authorized........................ ——
Common stock, par value $0.01, 75,000,000 shares authorized; 40,459,748 and 38,166,978
shares issued and outstanding as of March 31, 2005 and 2004, respectively........... 405 382
Additional paid-in capital ..................................................... 347,664 304,860
Accumulated other comprehensive income....................................... 12,851 8,302
Retained earnings............................................................ 187,838 125,048
Total stockholders’ equity................................................... 548,758 438,592
TOTAL LIABILITIES, MINORITY INTEREST AND STOCKHOLDERS’
EQUITY ............................................................... $747,393 $ 5 27,151