Electronic Arts 2016 Annual Report Download - page 110

Item 6: Selected Financial Data
ELECTRONIC ARTS INC. AND SUBSIDIARIES
SELECTED FIVE-YEAR CONSOLIDATED FINANCIAL DATA
(In millions, except per share data)
Year Ended March 31,
STATEMENTS OF OPERATIONS DATA 2016 2015 2014 2013 2012
Net revenue ........................................... $4,396 $4,515 $3,575 $3,797 $4,143
Cost of revenue ......................................... 1,354 1,429 1,347 1,388 1,598
Gross profit .......................................... 3,042 3,086 2,228 2,409 2,545
Total operating expenses ................................. 2,144 2,138 2,195 2,288 2,510
Operating income ..................................... 898 948 33 121 35
Gains on strategic investments, net .........................———39—
Interest and other income (expense), net ..................... (21) (23) (26) (21) (17)
Income before provision for (benefit from) income taxes ...... 877 925 7 139 18
Provision for (benefit from) income taxes .................... (279) 50 (1) 41 (58)
Net income .......................................... $1,156 $ 875 $ 8 $ 98 $ 76
Earnings per share:
Basic ............................................. $ 3.73 $ 2.81 $ 0.03 $ 0.32 $ 0.23
Diluted ........................................... $ 3.50 $ 2.69 $ 0.03 $ 0.31 $ 0.23
Number of shares used in computation:
Basic ............................................. 310 311 308 310 331
Diluted ........................................... 330 325 316 313 336
As of March 31,
BALANCE SHEETS DATA 2016 2015 2014 2013 2012
Cash and cash equivalents ................................ $2,493 $2,068 $1,782 $1,292 $1,293
Short-term investments .................................. 1,341 953 583 388 437
Marketable equity securities ..............................————119
Working capital ........................................ 1,936(a) 973(a) 748 408 489
Total assets ............................................ 7,050 6,147 5,716 5,070 5,491
0.75% convertible senior notes due 2016, net ................. 163
(a) 633(a) 580 559 539
Senior notes, net ........................................ 989
(b) ————
Other long-term liabilities ................................ 245 333 324 327 374
Total liabilities ......................................... 3,652 3,080 3,294 2,803 3,033
Total stockholders’ equity ................................ 3,396(a) 3,036(a) 2,422 2,267 2,458
(a) The Convertible Notes are currently convertible at the option of the holder through July 13, 2016, and the
carrying value of the Convertible Notes was reclassified as a current liability and the excess of the principal
amount over the carrying value of the Convertible Notes was reclassified from permanent equity to
temporary equity in the Consolidated Balance Sheets as of March 31, 2016 and March 31, 2015. See
Note 12 — Financing Arrangements to the Consolidated Financial Statements in this Form 10-K as it relates
to the Convertible Notes, the convertibility of the Convertible Notes, and the Convertible Note Hedge and
Warrants, which is incorporated by reference into this Item 6.
(b) In February 2016, we issued $600 million aggregate principal amount of 3.70% Senior Notes due March 1,
2021 (the “2021 Notes”) and $400 million aggregate principal amount of 4.80% Senior Notes due March 1,
2026 (the “2026 Notes,” and together with the 2021 Notes, the “Senior Notes”). See Note 12 — Financing
Arrangements to the Consolidated Financial Statements in this Form 10-K as it relates to our Senior Notes,
which is incorporated by reference into this Item 6.
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