Electronic Arts 2010 Annual Report Download - page 147

Annual Report
ELECTRONIC ARTS INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
Year Ended March 31,
(In millions) 2010 2009 2008
OPERATING ACTIVITIES
Net loss .................................................................... $ (677) $(1,088) $ (454)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, amortization and accretion, net .................................... 192 198 164
Stock-based compensation ................................................... 187 203 150
Other non-cash restructuring charges ........................................... 39 25 56
Net losses on investments and sale of property and equipment ....................... 22 65 111
Acquisition-related contingent consideration ..................................... 2 — —
Goodwill impairment ....................................................... — 368 —
Acquired in-process technology ............................................... — 3 138
Change in assets and liabilities:
Receivables, net ......................................................... (66) 221 (8)
Inventories ............................................................. 123 (49) (100)
Other assets ............................................................. 18 52 (8)
Accounts payable ........................................................ (57) (26) 22
Accrued and other liabilities ................................................ (138) (56) 72
Deferred income taxes, net ................................................. 2 222 (160)
Deferred net revenue (packaged goods and digital content) ....................... 505 (126) 355
Net cash provided by operating activities .................................... 152 12 338
INVESTING ACTIVITIES
Purchase of headquarters facilities ............................................... (233) — —
Capital expenditures .......................................................... (72) (115) (84)
Proceeds from sale of marketable equity securities .................................. 17 — —
Purchase of marketable equity securities and other investments ........................ — — (275)
Proceeds from maturities and sales of short-term investments ......................... 710 891 2,306
Purchase of short-term investments .............................................. (611) (695) (1,739)
Loan advance ............................................................... — — (30)
Acquisition-related restricted cash ............................................... (100) — —
Acquisition of subsidiaries, net of cash acquired .................................... (283) (58) (607)
Net cash provided by (used in) investing activities ............................ (572) 23 (429)
FINANCING ACTIVITIES
Proceeds from issuance of common stock ......................................... 39 89 192
Excess tax benefit from stock-based compensation .................................. 14 2 51
Net cash provided by financing activities .................................... 53 91 243
Effect of foreign exchange on cash and cash equivalents ............................... 19 (58) 30
Increase (decrease) in cash and cash equivalents ...................................... (348) 68 182
Beginning cash and cash equivalents ............................................... 1,621 1,553 1,371
Ending cash and cash equivalents ................................................. $1,273 $ 1,621 $ 1,553
Supplemental cash flow information:
Net cash paid (refunded) during the year for income taxes, net ......................... $ (34) $ 25 $ 31
Non-cash investing activities:
Change in unrealized gains (losses) on investments, net of taxes ....................... $ (54) $ (366) $ 146
Assumption of stock options in connection with acquisitions .......................... $ 11 $ — $ 59
See accompanying Notes to Consolidated Financial Statements.
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