Electronic Arts 2011 Annual Report Download - page 148
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Fair Value Measurements at Reporting
Date Using
Quoted Prices in
Active Markets
for Identical
Financial
Instruments
Significant
Other
Observable
Inputs
Significant
Unobservable
Inputs
As of
March 31,
2010 (Level 1) (Level 2) (Level 3) Balance Sheet Classification
Assets
Money market funds ....... $ 619 $ 619 $ — $— Cash equivalents
Available-for-sale securities:
Marketable equity
securities ............ 291 291 — — Marketable equity securities
Corporate bonds ......... 234 — 234 — Short-term investments and
cash equivalents
U.S. agency securities .... 118 — 118 — Short-term investments and
cash equivalents
U.S. Treasury securities . . . 93 93 — — Short-term investments and
cash equivalents
Commercial paper ....... 12 — 12 — Short-term investments and
cash equivalents
Deferred compensation plan
assets(a) ................ 12 12 — — Other assets
Foreign currency
derivatives ............. 2 — 2 — Other current assets
Total assets at fair value . . . $1,381 $1,015 $366 $—
Liability
Contingent consideration(b) . . $ 65 $ — $ — $65 Accrued and other current
liabilities and other liabilities
Total liability at fair
value ................ $ 65 $ — $ — $65
Fair Value Measurements Using
Significant Unobservable Inputs
(Level 3)
Contingent
Consideration
Balance as of March 31, 2009 . . $—
Additions ................ 63
Change in fair value(c) ...... 2
Balance as of March 31, 2010 . . $65
(a) The deferred compensation plan assets consist of various mutual funds.
(b) The contingent consideration represents the estimated fair value of the additional variable cash
consideration payable in connection with our acquisitions of Playfish Limited (“Playfish”) in fiscal year
2010 and Chillingo Limited (“Chillingo”) in fiscal year 2011 that is contingent upon the achievement of
certain performance milestones. We estimated the fair value using expected future cash flows over the
period in which the obligations are expected to be settled, and applied a discount rate that appropriately
captures a market participant’s view of the risk associated with the obligations.
(c) The change in fair value is included in acquisition-related contingent consideration in our Consolidated
Statements of Operations.
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