Blizzard 2003 Annual Report Download - page 55

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page 54
Notes to Consolidated Financial Statements
or part of the rights for shares of common stock at an exchange ratio of one share of common stock per
right. The rights expire on April 18, 2010.
16. Accumulated Other Comprehensive Income (Loss)
For the years ended March 31, 2002 and 2001, accumulated other comprehensive loss primarily consisted
of foreign currency translation adjustments.
For the year ended March 31, 2003, the components of accumulated other comprehensive loss were as
follows (amounts in thousands):
Unrealized Accumulated
Foreign Appreciation Other Comprehensive
Currency on Investments Income (Loss)
Balance, March 31, 2002 $(11,498) $ — $(11,498)
Comprehensive income 7,930 134 8,064
Balance, March 31, 2003 $ (3,568) $134 $ (3,434)
The amounts above are shown net of taxes. The income taxes related to other comprehensive income
were not significant, as income taxes were not provided for foreign currency translation items as these are
considered indefinite investments in non-U.S. subsidiaries.
17. Supplemental Cash Flow Information
Non-cash investing and financing activities and supplemental cash flow information are as follows
(amounts in thousands):
Year ended March 31, 2003 2002 2001
Non-cash investing and financing activities:
Conversion of convertible subordinated notes,
net of conversion costs $ — $58,651 $ —
Subsidiaries acquired with common stock 10,861 25,481 —
Issuance of options and common stock warrants 2,184 3,217 —
Stock offering costs 781 — —
Tax benefit derived from net operating loss carryforward utilization — — 3,652
Change in unrealized appreciation on short-term investments 134 — —
Supplemental cash flow information:
Cash paid for income taxes $ 5,491 $ 3,041 $6,753
Cash paid (received) for interest, net (7,804) (2,942) 5,720