Atari 2011 Annual Report Download - page 108

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ANNUAL FINANCIAL REPORT – REGISTRATION DOCUMENT
108
18. DEPRECIATION AND AMORTIZATION ALLOWANCES AND REVERSALS -
RECOGNITION AND REVERSALS OF OPERATING PROVISIONS
(
€ thousands)
31/3/2011
31/3/2010
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 39 124
- property, plant and equipment 126 346
Amortization of expenses attributable to several periods 1,928 1,175
Provisions for contingencies and losses 0 0
Provisions for the impairment of current assets - -
Total depreciation and amortization
2,09
4
2,245
19. NET FINANCIAL INCOME AND EXPENSE
Financial income for the year ended March 31, 2011 reflected:
• Interest income of €3.8 million, corresponding to interest charged on loans to other Group companies,
• Reversals of provisions of € 22.2 million, concerning foreign-exchange provision;
• Reversals of provision of €17.9 million mainly including reversal of provision on:
o Shares in Atari Interactive Inc. for €8.6 million;
o Shares in California US Holding for €7.6 million.
Financial expenses for the year ended March 31, 2011 included:
• Interest at 0.5% on ORANE bonds for 1 million euro,
• A provision of € 37 million for foreign exchange losses,
• Impairment allowances on interests in subsidiaries and related receivables of:
o € 18 million for Atari Europe,
o €6.5 million for shares (€ 4.5 million for Cryptic Studio, € 2 million for Eden Games),
o for subsidiaries’ risks related to Atari Japan for €1.2 million.
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)
Financial income:
- Foreign exchange gains 0 292
- Dividends 0 424
- Interest income
3,838
4,233
- Reversals of provisions and expense transfers 40,100
126,914
- Other financial income -
-
- Proceeds from the sale of securities -
1
Total financial income 43,938
131,864
Financial expenses:
- Foreign exchange losses 8 191
- Interest expense 1 057
1,068
- Depreciation, amortization and provisions 61 990
91,271
- Other financial expenses 985
44
Total financial expenses
64 040
92,574
Net financial income (loss)
(20 102)
39,290
(€ thousands)
3/31/2011
3/31/2010