THQ 2012 Annual Report Download - page 61

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FASB issued ASU 2011-12, "Comprehensive Income (Topic 220): Deferral of the Effective Date for Amendments to the
Presentation of Reclassifications of Items Out of Accumulated Other Comprehensive Income in ASU 2011-05" ("ASU 2011-
12"). ASU 2011-12 defers the effective date of the specific requirement to present items that are reclassified out of
accumulated other comprehensive income to net income alongside their respective components of net income and other
comprehensive income. All other provisions of ASU 2011-05 are effective for fiscal years, and interim periods within those
years, beginning after December 15, 2011, which will be our fiscal quarter ending June 30, 2012. The adoption is not expected
to have a material impact on our results of operations, financial position or cash flows.
In December 2011, the FASB issued ASU 2011-11, "Disclosures about Offsetting Assets and Liabilities" ("ASU 2011-11").
ASU 2011-11 creates new disclosure requirements about the nature of an entity’s rights of offset and related arrangements
associated with its financial instruments and derivative instruments. The disclosure requirements are effective for annual
reporting periods beginning on or after January 1, 2013, and interim periods therein, with retrospective application required,
which will be our quarter ending June 30, 2013. The new disclosures are designed to make financial statements that are
prepared under U.S. Generally Accepted Accounting Principles more comparable to those prepared under International
Financial Reporting Standards. The adoption is not expected to have a material impact on our results of operations, financial
position or cash flows.
In May 2011, the FASB issued ASU 2011-04, "Amendments to Achieve Common Fair Value Measurement and Disclosure
Requirements in U.S. GAAP and IFRSs," which results in common fair value measurement and disclosure requirements in U.S.
GAAP and IFRSs. Consequently, the amendments change the wording used to describe many of the requirements in U.S.
GAAP for measuring fair value and for disclosing information about fair value measurements. ASU 2011-04 is effective for
interim and annual periods beginning after December 15, 2011, which was our quarter ended March 31, 2012. Our adoption
did not materially impact our results of operations, financial position or cash flows.
3. Accounts Receivable Allowances
Accounts receivable allowances at March 31, 2012, 2011 and 2010 consisted of the following (amounts in thousands):
Balance at
Beginning of
Period Provisions(1) Deductions(1)
Balance at
End of
Period
Year Ended March 31, 2012
Allowance for
p
rice
p
rotection and returns $ 73,032 $ 154,102 $
(
167,659
)
$ 59,475
Allowance for co-o
p
advertisin
g
11,479 32,777
(
36,457
)
7,799
Allowance for doubtful accounts and othe
r
3,044 1,087
(
1,015
)
3,116
Total $ 87,555 $ 187,966 $
(
205,131
)
$ 70,390
Year Ended March 31, 2011
Allowance for
p
rice
p
rotection and returns $ 69,126 $ 142,830 $
(
138,924
)
$ 73,032
Allowance for co-o
p
advertisin
g
6,668 28,594
(
23,783
)
11,479
Allowance for doubtful accounts and othe
r
1,750
(
1,621
)
2,915 3,044
Total $ 77,544 $ 169,803 $
(
159,792
)
$ 87,555
Year Ended March 31, 2010
Allowance for
p
rice
p
rotection and returns $ 75,312 $ 139,121 $
(
145,307
)
$ 69,126
Allowance for co-o
p
advertisin
g
13,327 28,758
(
35,417
)
6,668
Allowance for doubtful accounts and othe
r
12,394 118
(
10,762
)
1,750
Total $ 101,033 $ 167,997 $
(
191,486
)
$ 77,544
(1) Provisions and deductions of “Allowance for doubtful accounts and other” includes recoveries of previously written off accounts
receivables.