Ubisoft 2000 Annual Report Download - page 56

Download and view the complete annual report

Please find page 56 of the 2000 Ubisoft annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 94

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94

UBI SOFT / REFERENCE DOCUMENT
55
Inventory is depreciated according to the age of the platform. Old-generation console products
are provisioned in the amount of 25% for the Nintendo 64 and 5% for Dreamcast.
The level of provisions for inventory is due to the lower prices for old-generation consoles, for
which there is no risk of becoming obsolete.
>>> VI. ADVANCES AND INSTALLMENTS PAID
These are essentially guaranteed advances paid on licensing contracts totaling FF 237,301
thousand.
These advances are taken to earnings in proportion to sales made of the licensed products.
>>> VII. TRADE RECEIVABLES
Trade and other receivables break down as follows:
03/31/01 03/31/00
(IN ‘000 FRENCH FRANCS) GROSS PROVISIONS NET NET
Trade receivables 538,125 13,421 524,704 574,124
TOTAL 538,125 13,421 524,704 574,124
>>> VIII. OTHER RECEIVABLES, PREPAYMENTS AND DEFERRED INCOME
Other receivables, prepayments and deferred income break down as follows:
(IN ‘000 FRENCH FRANCS) 03/31/01 03/31/00
Deferred tax on assets 53,522 4,744
Deferred tax on assets, consolidation adjustments (1) 13,053 5,254
Current account advances 101,035 55,542
VAT 35,414 9,738
Other tax and social security liabilities 105,234 56,279
Credits receivable from suppliers 3,372 9,367
Suppliers - debit balances 9,490 16,640
Other 1,965 62,856
Prepaid expenses 15,744 10,438
Charges to be spread over several financial years 3,081 4,759
Translation differentials 97 2,830
Redemption premium (2) 1,213 1,310
TOTAL 341,185 239,757
All receivables have a maturity of less than one year.
(1) including:
Leasing 1,140
Margin on inventory 7,137
Elimination of intercompany transactions 221
Elimination of internal results 4,555
(2) The original amount of the premium taken to assets is FF 13,624,000.
This premium is amortized over the term of the loan, i.e. FF 3,000,000 as of March 31, 2001.
Furthermore, the conversion of 18,705 bonds during the past year and 107,584 bonds during the previous
year has reduced the redemption premium by FF 9,411,000.