Ubisoft 2004 Annual Report Download - page 75

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73
UBISOFT > 2005 FINANCIAL REPORT
2
FINANCIAL REPORT FOR THE FISCAL YEAR ENDING MARCH 31, 2005
Note 17 Other operating income
Other operating income breaks down as follows:
3.31.05 3.31.04
Capitalized software production costs 99,976 79,775
Other capitalized production costs 698 2,037
Operating subsidies 17,835 11,541
Write-back of provisions 6,325 2,939
•Risk and charges 1,085 38
•Inventory 3,652 652
•Doubtful debts 888 1,619
•Sundry assets 111 259
•Intangible assets 589 343
•Tangible assets - 28
Transfer of expenditures 963 2,643
Other income 1,970 1,176
Total 127,767 100,111
Breakdown of exchange rate differences
by currency
3.31.05 3.31.04
Australian dollars 54 633
Canadian dollars 268 -761
Swiss francs -129
Pounds sterling -1,233 -156
Japanese yen 154 -321
US dollars 18 -1,379
Other 227 118
Total -512 -1,737
3.31.05 3.31.04
Exchange rate conversion differences -5121-1.737
Capital gains on bond buybacks -2.900
Financial discounts -2.389 -2.987
Financial costs and proceeds from sale -5.590 -6.307
of investment securities
Depreciation of redemption premium -2.292 -2.458
and issue costs for bonds
Depreciation on equity investments - -1.621
and Teamchman bond issue
Interest on equity swap -1.005 -
Other depreciation 116 128
Total -11.672 -12.082
Note 18 Other operating expenses
Other operating expenses break down as follows:
1- Includes €10.5 million in additional depreciation on advances and installments.
Other external expenses consisted mainly of advertising
expenditures, royalties, and rental of fixed assets and
movables.
3.31.05 3.31.04
Other external expenses 174,6061173,474
Other expenses 2,890 3,174
Total 177,496 176,648
1- Includes -€451 thousand reflecting the impact on discounting of advances in
foreign currencies.
Note 20 Net financial result
Net financial result breaks down as follows:
31.03.05 31.03.04
Depreciation of intangible fixed assets 116,320 118,623
•Released softwareprograms199,642 298,379
•External developments 13,270 316,899
•Officesoftware 3,361 3,309
•Logo 33 20
•Other 14 16
Depreciation of tangible fixed assets 6,160 6,137
•Plant & machinery 878 781
•Computer equipment and furniture 4,386 4,316
•Development kits 436 179
• Transportation equipment 47 25
•Leased computer hardware 413 836
Provisions for charges to be spread over several fiscal years 208 560
Provisions for trade receivables 729 1,034
Provisions for inventories 2,093 3,555
Provisions for sundry assets - 111
Provisions for risk and charges 183 1,345
Total 125,693 131,365
1- Released software programs now include software tools and localization.
2- Includes €51.6 million of additional amortization reflecting the shortfall in estimated sales and projected operating income on certain games.
3- Includes €8.4 million of additional amortization reflecting the shortfall in estimated sales and projected operating income on certain games.
Note 19 Amortization, depreciation and provisions
Depreciation and provisions break down as follows: