THQ 2004 Annual Report Download - page 55

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March 31, December 31,
(In thousands, except per share data) 2004 2003 2002
ASSETS
Current assets:
Cash and cash equivalents $ 247,237 $ 199,860 $ 132,898
Short-term investments 5,802 16,151 53,951
Cash, cash equivalents and short-term investments 253,039 216,011 186,849
Accounts receivable, net of allowances 59,088 35,976 146,508
Inventory 22,303 24,339 24,362
Licenses 13,172 15,330 15,897
Software development 39,997 54,824 45,633
Deferred income taxes —— 1,334
Income taxes receivable —1,116 —
Prepaid expenses and other current assets 9,451 11,316 12,092
Total current assets 397,050 358,912 432,675
Property and equipment, net 17,468 16,408 16,103
Licenses, net of current portion 9,068 20,053 19,525
Software development, net of current portion 9,798 2,640 1,785
Deferred income taxes, net of current portion 560 8,346 —
Goodwill, net 59,399 58,609 58,609
Long-term marketable securities 24,320 ——
Other long-term assets, net 9,488 7,981 9,163
TOTAL ASSETS $ 527,151 $ 472,949 $ 537,860
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 22,147 $ 21,001 $ 41,148
Accrued expenses 22,361 20,090 32,548
Accrued payment to venture partner 746 676 5,845
Accrued royalties 41,305 22,893 30,215
Income taxes payable 216 — 2,331
Deferred income taxes 642 7,353 —
Total current liabilities 87,417 72,013 112,087
Accrued royalties, net of current portion 1,142 4,523 15,373
Deferred income taxes —— 1,534
Commitments and contingencies ———
Stockholders’ equity:
Preferred stock, par value $.01, 1,000,000 shares authorized ———
Common stock, par value $.01, 75,000,000 shares authorized; 38,166,978
38,007,879 and 38,416,002 shares issued and outstanding
as of March 31, 2004 and 2003 and December 31, 2002, respectively 382 380 384
Additional paid-in capital 304,860 305,328 310,963
Accumulated other comprehensive income 8,302 1,496 624
Retained earnings 125,048 89,209 96,895
Total stockholders’ equity 438,592 396,413 408,866
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 527,151 $ 472,949 $ 537,860
CONSOLIDATED BALANCE SHEETS
52:53
THQ : 2004 : ANNUAL REPORT
See notes to consolidated financial statements.