Atari 2009 Annual Report Download - page 137
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ANNUAL FINANCIAL REPORT – REGISTRATION DOCUMENT
137
INCREASES AND REDUCTIONS IN THE FUTURE TAX BURDEN AS OF MARCH 31, 2009
- Factors resulting in a future tax:
Factors Bases
(€ thousands)
Provisions deducted during the year to be included in subsequent
periods
20,315
- Factors resulting in a reduction in future taxes:
Factors Bases
(€ thousands)
Non-deductible provisions 13,660
Regular tax-loss carryforwards 498,424
22. Statement of accrued income and expenses
Accrued expenses
(€ thousands)
Trade payables - pending invoices 1,877 1,832
Tax and employee-related liabilities:
- Provision for bonuses, paid leave, working hour reductions, working
time credits
1,216 373
- Other employee benefits payable 230 1,697
- Tax liabilities 90 130
- Other 5 0
Total accrued expenses 3,418 4,032
Year ended
March 31, 2009
Year ended
March 31, 2008
Accrued income
(€ thousands)
Trade receivables - pending invoices 1,093 310
Total accrued income 1,093 310
Year ended
March 31,
2009
Year ended
March 31,
2008
23. Off-balance sheet commitments
23.1. Commitments given
23.1.1. Guarantees given by Atari in its capacity as parent company under the agreement with Banc of America
The Company has given various guarantees as security for the Banc of America loans to Atari Europe SAS and some of
its subsidiaries, consisting of:
A first-call guarantee.
Pledges of the entire equity interests in the following subsidiaries: Cryptic Studios Inc., Eden Games SAS, Atari
Interactive Inc., Atari Inc. and Atari Europe SAS.
Pledge of 66% of the shares in Distribution Partners SAS (waived on July 7, 2009 due to the sale to Namco
Bandai Games Europe SAS of the remaining 66% interest).
Pledges of certain trademarks and rights relating to certain video games published by Atari Europe SAS;
Pledges of the intra-group receivables of certain Group subsidiaries.
23.1.2. Guarantees given in connection with local financing facilities
In the ordinary course of business, the Company has given guarantees to financial institutions as security for credit
facilities extended to Group entities:
Atari Australia: AUD 8.5 million (€4.4 million)
Atari Italia: €8.2 million
Atari España: €1.3 million
23.1.3. Hasbro commitment
In connection with agreements entered into by the Company and Hasbro Inc., the Company has undertaken to pay
Hasbro Inc. USD 12.37 million (€9.3 million) as a “guaranteed minimum” payment under the license agreements. This
payment will be made in accordance with the following schedule: