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32
ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Amounts in millions, except share data)
At
December 31,
2012
At
December 31,
2011
Assets
Current assets:
Cash and cash equivalents .....................................................................................................................................
$3,959
$3,165
Short-term investments .........................................................................................................................................
416
360
Accounts receivable, net of allowances of $332 and $300 at December 31, 2012 and 2011, respectively ........
707
649
Inventories, net ......................................................................................................................................................
209
144
Software development ...........................................................................................................................................
164
137
Intellectual property licenses ................................................................................................................................
11
22
Deferred income taxes, net ....................................................................................................................................
487
507
Other current assets ...............................................................................................................................................
321
396
Total current assets ...........................................................................................................................................
6,274
5,380
Long-term investments ..........................................................................................................................................
8
16
Software development ...........................................................................................................................................
129
62
Intellectual property licenses ................................................................................................................................
30
12
Property and equipment, net .................................................................................................................................
141
163
Other assets............................................................................................................................................................
11
12
Intangible assets, net .............................................................................................................................................
68
88
Trademark and trade names ..................................................................................................................................
433
433
Goodwill ................................................................................................................................................................
7,106
7,111
Total assets .......................................................................................................................................................
$14,200
$13,277
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable ..................................................................................................................................................
$343
$390
Deferred revenues .................................................................................................................................................
1,657
1,472
Accrued expenses and other liabilities ..................................................................................................................
652
694
Total current liabilities .....................................................................................................................................
2,652
2,556
Deferred income taxes, net ....................................................................................................................................
25
55
Other liabilities ......................................................................................................................................................
206
174
Total liabilities..................................................................................................................................................
2,883
2,785
Commitments and contingencies (Note 17)
Shareholders’ equity:
Common stock, $0.000001 par value, 2,400,000,000 shares authorized, 1,111,606,087 and 1,133,391,371
shares issued at December 31, 2012 and 2011, respectively ...........................................................................
—
—
Additional paid-in capital ......................................................................................................................................
9,450
9,616
Retained earnings ..................................................................................................................................................
1,893
948
Accumulated other comprehensive loss ................................................................................................................
(26)
(72)
Total shareholders’ equity ................................................................................................................................
11,317
10,492
Total liabilities and shareholders’ equity .........................................................................................................
$14,200
$13,277
The accompanying notes are an integral part of these Consolidated Financial Statements.