Atari 2012 Annual Report Download - page 95

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ANNUAL FINANCIAL REPORT – REGISTRATION DOCUMENT
95
Cash flow statement
Cash includes cash, cash equivalents and marketable securities.
All cash flows relating to intra-group advances, loans and borrowings are recognized at their net value in cash flow from
financing activities, on the line “Net change in intra-group balances”.
Use of estimates
The preparation of the annual financial statements in accordance with generally accepted accounting practices requires
the use of estimates and assumptions by the Company's management, which affect the value of assets and liabilities on
the balance sheet, contingent assets and liabilities referred to in the notes to the financial statements as well as the
amounts of revenue and expenses in the income statement. Final amounts may differ from those estimates and
assumptions.
The main estimates and assumptions used to prepare the financial statements generally concern the assumptions used
to measure provisions for impairment of investments in subsidiaries and associates, taking into account the current
financial and economic crisis and on the basis of market inputs at the balance sheet date.
3. INTANGIBLE ASSETS AND PROPERTY, PLANT AND EQUIPMENT
The table below shows no changes in intangible assets for the year:
Software 371 - 371
Fixed assets in progress - - - - -
Total gross value 371 - - - 371
Acumulated amortization and
provisions
(371) - - (371)
Total net value - -
03/31/2012
Other
changes
03/31/2011
(€ thousands)
Acquisitions /
Allowances
Disposals /
Revaluations
The table below shows changes in property, plant and equipment for the year:
Machinery and equipment 74 - (74) - -
General fixtures and fittings 1 591 - (1 591) - -
Office equipment and computers 210 - (210) - -
Total gross value 1 875 - (1 875) - -
Acumulated depreciation and
provisions
(1 875) 1 875 - -
Total net value - - - - -
03/31/2012
Other
changes
03/31/2011
(€ thousands)
Acquisitions /
Allowances
Disposals /
Revaluations
All tangible assets that were not anymore in use were written off this year.
4. FINANCIAL ASSETS
4.1. Changes in financial assets
The increase of €119,051 million in investment in subsidiaries is due to the recapitalization of Atari Europe and Eden by
incorporating the intercompany debt into share capital respectively for €114 million and €5 million. The decrease of €29.3
million is due to the divestment of Cryptic studio shares.
As of March 31, 2012, the gross value of receivables from subsidiaries represented primarily shareholder advances of
€191 million euros to Atari Interactive Inc. The accrued interests on receivables are mainly the €5 million of related
interests on this advance to Atari Interactive Inc.
The decrease of receivables from subsidiaries came mainly from the recapitalization operations concerning Atari Europe
and Eden, respectively for €113 million and €5 million. It is also due, to a less important extend, to the impact of
(€ thousands) 31-Mar-11 Increases Decreases Currency impact 31-Mar-12
Investments in subsidiaries and associates 735 250 119 051 29 266 - 825 035
Receivables from subsidiaries and associates 295 559 33 744 145 110 - 14 665 198 858
Accrued interest on receivables 5 811 3 139 2 553 - 380 - 6 017
Loans and other fixed assets 6 386 9 837 15 406 - 343 1 160
Total gross value 1 043 006 165 771 192 335 - 14 628 1 031 070
Provisions 803 742 - 131 856 - 94 617 840 981 -
Total net value 239 264 33 915 97 718 - 14 628 190 089