Electronic Arts 2011 Annual Report Download - page 138

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ELECTRONIC ARTS INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
Year Ended March 31,
(In millions) 2011 2010 2009
OPERATING ACTIVITIES
Net loss ........................................................... $ (276) $ (677) $(1,088)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation, amortization and accretion, net ........................... 180 192 198
Stock-based compensation .......................................... 176 187 203
Other non-cash restructuring charges .................................. 1 39 25
Net losses (gains) on investments and sale of property and equipment ........ (25) 22 65
Acquisition-related contingent consideration ............................ (17) 2 —
Goodwill impairment .............................................. — — 368
Acquired in-process technology ...................................... — — 3
Change in assets and liabilities:
Receivables, net ................................................ (122) (66) 221
Inventories ..................................................... 25 123 (49)
Other assets .................................................... 5 18 52
Accounts payable ............................................... 114 (57) (26)
Accrued and other liabilities ....................................... (4) (138) (56)
Deferred income taxes, net ........................................ 24 2 222
Deferred net revenue (packaged goods and digital content) ............... 239 505 (126)
Net cash provided by operating activities ........................... 320 152 12
INVESTING ACTIVITIES
Purchase of headquarters facilities ...................................... — (233) —
Capital expenditures ................................................. (59) (72) (115)
Proceeds from sale of marketable equity securities ......................... 132 17 —
Proceeds from maturities and sales of short-term investments ................ 442 710 891
Purchase of short-term investments ..................................... (514) (611) (695)
Acquisition-related restricted cash ...................................... — (100) —
Acquisition of subsidiaries, net of cash acquired ........................... (16) (283) (58)
Net cash provided by (used in) investing activities ................... (15) (572) 23
FINANCING ACTIVITIES
Proceeds from issuance of common stock ................................ 34 39 89
Excess tax benefit from stock-based compensation ......................... 1 14 2
Repurchase and retirement of common stock .............................. (58) — —
Net cash provided by (used in) financing activities ................... (23) 53 91
Effect of foreign exchange on cash and cash equivalents ...................... 24 19 (58)
Increase (decrease) in cash and cash equivalents ............................. 306 (348) 68
Beginning cash and cash equivalents ...................................... 1,273 1,621 1,553
Ending cash and cash equivalents ......................................... $1,579 $1,273 $ 1,621
Supplemental cash flow information:
Cash paid (refunded) during the year for income taxes, net ................... $ 21 $ (34) $ 25
Non-cash investing activities:
Change in unrealized losses on avaliable-for-sale securities, net of taxes ........ $ (4) $ (54) $ (366)
Equity consideration granted in connection with acquisition .................. $ — $ 11 $ —
See accompanying Notes to Consolidated Financial Statements.
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