Blizzard 2011 Annual Report Download - page 47

ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Amounts in millions, except share data)
At
December 31,
2011
At
December 31,
2010
Assets
Current assets:
Cash and cash equiv alents .................................................................................................................................. $3,165 $2,812
Short-term investments....................................................................................................................................... 360 696
Accounts receivable, net of allowances of $300 million and $377 million at December 31, 2011 and
2010, respectively .......................................................................................................................................... 649 673
Inventories, net ................................................................................................................................................... 144 112
Software development ........................................................................................................................................ 137 147
Intellectual property licenses .............................................................................................................................. 22 45
Deferred income taxes, net ................................................................................................................................. 507 648
Other current assets ............................................................................................................................................ 396 299
Total current assets ........................................................................................................................................ 5,380 5,432
Long-term investments ......................................................................................................... .............................. 16 23
Software development ........................................................................................................................................ 62 55
Intellectual property licenses .............................................................................................................................. 12 28
Property and equipment, net............................................................................................................................... 163 169
Other assets ......................................................................................................................................................... 12 15
Intangible assets, net ........................................................................................................................................... 88 160
Trademark and trade names ............................................................................................................................... 433 433
Goodwill ............................................................................................................................................................. 7,111 7,132
Total assets .................................................................................................................................................... $13,277 $13,447
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable ............................................................................................................................................... $390 $363
Deferred revenues ............................................................................................................................................... 1,472 1,726
Accrued expenses and other liabilities ............................................................................................................... 694 871
Total current liabilities .................................................................................................................................. 2,556 2,960
Deferred income taxes, net ................................................................................................................................. 55 120
Other liabilities ................................................................................................................................................... 174 164
Total liabilities ............................................................................................................................................... 2,785 3,244
Commitments and contingencies (Note 17)
Shareholders’ equity:
Common stock, $0.000001 par value, 2,400,000,000 shares authorized, 1,133,391,371 and 1,382,479,839
shares issued at December 31, 2011 and 2010, respectively ........................................................................ — —
Additional paid-in capital ................................................................................................................................... 9,616 12,353
Less: Treasury stock, at cost, 0 and 199,159,987 shares at December 31, 2011 and 2010, respectively ......... — (2,194)
Retained earnings ............................................................................................................................................... 948 57
Accumulated other comprehensive loss ............................................................................................................. (72) (13)
Total shareholders’ equity ............................................................................................................................. 10,492 10,203
Total liabilities and shareholders’ equity ...................................................................................................... $13,277 $13,447
The accompanying notes are an integral part of these Consolidated Financial Statements.
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