THQ 2005 Annual Report Download - page 91
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68
The allowance for price protection, returns and doubtful accounts at March 31, 2005, 2004 and Transition
2003 consisted of the following:
Fiscal Year Ended March 31, Transition
2005 20042003
(In thousands)
Beginningbalance ....................... $(52,426) $(43,406) $(59,919)
Provision for price protection, returns
and doubtful accounts .................. (106,504) (120,982) (10,046 )
Actual deductions for price protection,
returns and doubtful accounts ........... 100,810111,962 26,559
Ending balance.......................... $(58,120) $(52,426) $(43,406)
6. Goodwill
The changes in the carrying amountof goodwill for the fiscal years ended March 31, 2005 and 2004 were as
follows (in thousands):
Balance at March 31,2003 ........................................... $58,609
Adjustments to goodwill during the period........................... (1,510)
Additional consideration paid for Val uSoft. .......................... 2,300
Balance at March 31,2004 ........................................... 59,399
Purchase of Relic................................................. 9,064
Additional investment in Minick.................................... 8,611
Additional consideration paid for ValuSoft........................... 2,300
Purchase of Blue Tongue .......................................... 2,452
Effect of foreign currency exchange rates ............................ 1,614
Balance at March 31,2005 ........................................... $83,440
The adjustment to goodwill in fiscal 2004 related to acquired net operating loss carry forwards in Germany
that were not recorded at the time of acquisition due to uncertainties about their realization. Due to the
recent clarification in the tax law, we now expect to realize the net operating losses.