Blizzard 2013 Annual Report Download - page 53

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ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Amounts in millions, except share data)
At December 31,
2013
At December 31,
2012
Assets
Current assets:
Cash and cash equivalents.................................................................................................... $ 4,410 $ 3,959
Short-term investments ........................................................................................................ 33 416
Accounts receivable, net of allowances of $381 and $332 at December 31, 2013 and
2012, respectively ........................................................................................................... 515 707
Inventories, net ..................................................................................................................... 171 209
Software development .......................................................................................................... 367 164
Intellectual property licenses ............................................................................................... 11 11
Deferred income taxes, net ................................................................................................... 321 487
Other current assets .............................................................................................................. 413 321
Total current assets .......................................................................................................... 6,241 6,274
Long-term investments ........................................................................................................ 9 8
Software development .......................................................................................................... 21 129
Intellectual property licenses ............................................................................................... — 30
Property and equipment, net ................................................................................................ 138 141
Other assets .......................................................................................................................... 35 11
Intangible assets, net ............................................................................................................ 43 68
Trademark and trade names ................................................................................................. 433 433
Goodwill ............................................................................................................................... 7,092 7,106
Total assets ...................................................................................................................... $ 14,012
$ 14,200
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable ................................................................................................................. $ 355 $ 343
Deferred revenues ................................................................................................................ 1,389 1,657
Accrued expenses and other liabilities ................................................................................. 636 652
Current portion of long-term debt ........................................................................................ 25 —
Total current liabilities .................................................................................................... 2,405 2,652
Long-term debt, net .............................................................................................................. 4,668 —
Deferred income taxes, net ................................................................................................... 20 25
Other liabilities ..................................................................................................................... 297 206
Total liabilities ................................................................................................................ 7,390 2,883
Commitments and contingencies (Note 22)
Shareholders’ equity:
Common stock, $0.000001 par value, 2,400,000,000 shares authorized, 1,132,385,424
and 1,111,606,087 shares issued at December 31, 2013 and 2012, respectively .......... — —
Additional paid-in capital ..................................................................................................... 9,682 9,450
Less: Treasury stock, at cost, 428,676,471 and 0 shares at December 31, 2013 and
2012, respectively ........................................................................................................... (5,814) —
Retained earnings ................................................................................................................. 2,686 1,893
Accumulated other comprehensive income (loss) ............................................................... 68 (26)
Total shareholders’ equity ............................................................................................... 6,622 11,317
Total liabilities and shareholders’ equity ........................................................................ $ 14,012
$ 14,200
The accompanying notes are an integral part of these Consolidated Financial Statements.