Blizzard 2015 Annual Report Download - page 56

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ACTIVISION BLIZZARD, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Amounts in millions, except share data)
At December 31,
2015
At December 31,
2014
Assets
Current assets:
Cash and cash equivalents ............................................................................................................ $ 1,823 $ 4,848
Short-term investments ................................................................................................................. 8 10
Accounts receivable, net of allowances of $343 and $383 at December 31, 2015 and December 31,
2014, respectively ............................................................................................................ ......... 679 659
Inventories, net ............................................................................................................................. 128 123
Software development .................................................................................................................. 336 452
Intellectual property licenses ........................................................................................................ 30 5
Other current assets ....................................................................................................................... 383 444
Total current assets ................................................................................................................... 3,387 6,541
Cash in escrow .............................................................................................................................. 3,561 —
Long-term investments ................................................................................................................. 9 9
Software development .................................................................................................................. 80 20
Intellectual property licenses ........................................................................................................ — 18
Property and equipment, net ......................................................................................................... 189 157
Deferred income taxes, net ........................................................................................................... 275 264
Other assets ................................................................................................................................... 173 85
Intangible assets, net ..................................................................................................................... 49 29
Trademark and trade names .......................................................................................................... 433 433
Goodwill ....................................................................................................................................... 7,095 7,086
Total assets ............................................................................................................................... $ 15,251 $ 14,642
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable .......................................................................................................................... $ 284 $ 325
Deferred revenues ......................................................................................................................... 1,702 1,797
Accrued expenses and other liabilities .......................................................................................... 625 592
Total current liabilities ............................................................................................................. 2,611 2,714
Long-term debt, net....................................................................................................................... 4,079 4,324
Deferred income taxes, net ........................................................................................................... 10 10
Other liabilities ............................................................................................................................. 483 361
Total liabilities .......................................................................................................................... 7,183 7,409
Commitments and contingencies (Note 19)
Shareholders’ equity:
Common stock, $0.000001 par value, 2,400,000,000 shares authorized, 1,163,179,140 and
1,150,605,926 shares issued at December 31, 2015 and December 31, 2014, respectively ...... — —
Additional paid-in capital ............................................................................................................. 10,242 9,924
Less: Treasury stock, at cost, 428,676,471 shares at December 31, 2015 and December 31, 2014 (5,637) (5,762)
Retained earnings ............................................................................................................. ............. 4,096 3,374
Accumulated other comprehensive loss ........................................................................................ (633) (303)
Total shareholders’ equity ........................................................................................................ 8,068 7,233
Total liabilities and shareholders’ equity .................................................................................. $ 15,251 $ 14,642
The accompanying notes are an integral part of these Consolidated Financial Statements.
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