Atari 2010 Annual Report Download - page 126

ANNUAL FINANCIAL REPORT – REGISTRATION DOCUMENT
126
18. Depreciation and amortization allowances and reversals - recognition and reversals of operating
provisions
(
€ thousands)
31/3/2010
31/3/2009
Provisions for contingencies and losses 0 8
Provisions for the impairment of current assets 0 0
Total reversals
0
8
Depreciation and amortization:
- intangible assets 124 122
- property, plant and equipment 346 190
Amortization of expenses attributable to several periods 1,775 1,174
Provisions for contingencies and losses 0 0
Provisions for the impairment of current assets - -
Total depreciation and amortization
2,245
1,486
19. Net financial income and expense
Financial income:
- Foreign exchange gains 292 407
- Dividends 424
- Interest income 4,233 9,252
- Reversals of provisions and expense transfers 126,914 58,298
- Other financial income - 81
- Proceeds from the sale of securities 1 552
Total financial income 717 68,590
Financial expenses:
- Foreign exchange losses 191 579
- Interest expense 1,068 919
- Depreciation, amortization and provisions 91,271 218,875
- Other financial expenses 44 -
Total financial expenses 92,574 220,373
Net financial income (loss)
39,290
(151,783)
(€ thousands) 3/31/2010 3/31/2009
Financial income for the year ended March 31, 2010 reflected:
• Interest income of €4.2 million, corresponding to interest charged on loans to other Group companies.
• reversals of provisions of 127 million euros, primarily concerning:
- provision on the shares of California US Holding (47 million euro) and Game Nation Texas (18 million
euro, a subsidiary liquidated during the year),
- shareholder advances to Atari Europe (20 million euro),
- Foreign-exchange provision of 20 million euro,
- Atari Europe contingency provision (20 million euro).
Financial expenses for the year ended March 31, 2010 included:
• interest at 0.5% on ORANE bonds for 1 million euros,
• an impairment allowance of 91 million euros on investments in subsidiaries primarily consisting of:
- shareholder advances of 48 million euro (including 27 million euro to Atari Interactive, 20 million euro
to Atari Europe)
- an allowance for foreign-exchange of 22 million euro.
- investments of 11.3 million euro (7.8 million euro for Cryptic, 2.3 million euro for GameOne and 1.2
million euros for Eden Studios)
- a provision for losses on investment mainly related to Atari Europe (8.7 million euro) and Atari Japan
(1.4 million euro).
Financial income for the year ended March 31, 2009 included:
• Interest income of €9.3 million, corresponding to interest charged on loans to other Group companies;
• reversals of provisions and expense transfers in the amount of €58.3 million, mainly comprising reversals of
provisions for contingencies on Learning Ltd (€5.5 million), Atari Japan (€1.1 million) and Atari Brazil (€0.6
million), as well as reversals of provisions for currency risks (€24.3 million) and reversals of provisions on
investment securities held in California US Holding (€17.8 million), Gameone (€4,9 million), Atari Brasil (€1,4
million) - Atari Brasil was sold during the year.