THQ 2011 Annual Report Download - page 64

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Property and Equipment, net. Property and equipment, net at March 31, 2011 and 2010 consisted of the following (amounts in
thousands):
Building
Land
Computer equipment and software
Furniture, fixtures and equipment
Leasehold improvements
Automobiles
Less: accumulated depreciation
Property and equipment, net
8VHIXO
/LYHV
30 yrs
—
3-10 yrs
5 yrs
3-6 yrs
2-5 yrs
0DUFK
$ 730
401
60,254
8,880
15,999
88
86,352
(57,392)
$ 28,960
0DUFK
$ 730
401
53,454
7,444
12,978
78
75,085
(46,711)
$ 28,374
Depreciation expense associated with property and equipment amounted to $11.5 million, $12.8 million and $17.5 million for
fiscal 2011, 2010 and 2009, respectively.
Accrued and Other Current Liabilities. Accrued and other current liabilities at March 31, 2011 and 2010 consisted of the
following (amounts in thousands):
Accrued liabilities
Settlement payment due to Jakks
Accrued compensation
Accrued third-party software developer milestones
Accrued royalties
Accrued and other current liabilities
0DUFK
$ 33,175
6,000
20,093
22,951
55,703
$ 137,922
0DUFK
$ 16,613
6,000
34,696
23,676
49,944
$ 130,929
Other Long-Term Liabilities. Other long-term liabilities at March 31, 2011 and 2010 consisted of the following (amounts in
thousands):
Accrued royalties
Unrecognized tax benefits and related interest
Deferred rent
Accrued liabilities
Settlement payment due to Jakks
Other long-term liabilities
0DUFK
$ 69,209
—
7,517
4,215
7,101
$ 88,042
0DUFK
$ 75,163
1,612
5,148
4,741
12,161
$ 98,825
A portion of the settlement payment due to Jakks is reflected in "Accrued and other current liabilities" and a portion is reflected
in "Other long-term liabilities" in our consolidated balance sheets at the present value of the consideration payable under the
agreement between THQ and Jakks. See "Note 18 — Joint Venture and Settlement Agreements" for a discussion of the Jakks
settlement payments.
 /LFHQVHVDQG6RIWZDUH'HYHORSPHQW
Licenses. At March 31, 2011 and 2010, the net carrying value of our licenses was $118.2 million and $140.3 million, respectively,
and is reflected as “Licenses” and “Licenses, net of current portion” in our consolidated balance sheets. Additionally, as of
March 31, 2011, we had commitments of $13.1 million that are not reflected in our consolidated financial statements due to
remaining performance obligations of the licensor.
Software Development. As of March 31, 2011 and 2010, the net carrying value of our software development was $272.5 million
and $159.0 million, respectively, and is reflected as “Software development” and “Software development, net of current portion”
55