Atari 2012 Annual Report Download - page 104

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ANNUAL FINANCIAL REPORT – REGISTRATION DOCUMENT
104
A provision of €20 million for foreign exchange losses,
Impairment allowances on interests in subsidiaries and related receivables of:
o €100.6 million for Atari Europe shares,
o €27.5 million for Atari Inc shares
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,
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.
20. NON-RECURRING INCOME AND EXPENSE
Year ended March 31, 2012
- Operating activities - 16 (16)
- Investing activities 14 455 29 758 (15 303)
- Amortization and provisions - -
Total 14 455 29 774 (15 319)
Year ended March 31, 2011
- Operating activities - 1 (1)
- Investing activities 28 7 21
- Amortization and provisions 306 - 306
Total 334 8 326
(€ thousands)
Income
Expense
Net
For Fiscal Year 2011/2012, non-recurring result mainly relates to the Cryptic sale.
Non-recurring income included:
net sale’s proceeds of €14.5 million related to the divestment in Cryptic studios (after deduction of
intercompany balances of €18 million, and foreign exchange impact)
Non-recurring expenses on investment transactions primarily consisted of:
The disposal of Cryptic shares for €29.3 million,
The waiver of debt granted to Eden games for €0.5 million, related to the management fees for Fiscal year
2011/2012.
For last Fiscal Year, non-recurring result mainly relates to the reversal of a €297 thousand provision booked for vacant
premises.
21. CORPORATE INCOME TAX AND PROFIT SHARING
As the Company has large carryover losses, the breakdown of corporate income tax between regular income and non-
recurring income is not relevant.
The Company heads up a tax consolidation group (Article 223 A et seq. of the General Tax Code) that includes Atari
Europe and Eden Games.