2014 Q1 Form 10-Q Financial Statement

#000104746914000555 Filed on February 04, 2014

View on sec.gov

Income Statement

Concept 2014 Q1 2013 Q4 2012 Q4
Revenue $195.2M $1.864B $415.8M
YoY Change -34.82% 348.29% 75.93%
Cost Of Revenue $108.3M $1.120B $216.3M
YoY Change -29.83% 417.68% 71.03%
Gross Profit $86.92M $744.1M $199.5M
YoY Change -40.12% 273.05% 81.57%
Gross Profit Margin 44.53% 39.92% 47.98%
Selling, General & Admin $78.35M $105.2M $93.60M
YoY Change -14.94% 12.38% 33.85%
% of Gross Profit 90.14% 14.14% 46.93%
Research & Development $28.63M $29.23M $22.37M
YoY Change 35.16% 30.69% 32.97%
% of Gross Profit 32.94% 3.93% 11.21%
Depreciation & Amortization $3.522M $3.413M $2.509M
YoY Change 25.52% 36.03% -12.09%
% of Gross Profit 4.05% 0.46% 1.26%
Operating Expenses $110.5M $137.8M $118.5M
YoY Change -4.82% 16.34% 32.22%
Operating Profit -$23.58M $606.3M $80.99M
YoY Change -181.15% 648.59% 300.0%
Interest Expense -$7.500M -$5.900M -$8.100M
YoY Change -3.85% -27.16% 30.65%
% of Operating Profit -0.97% -10.0%
Other Income/Expense, Net -$7.535M -$5.949M -$8.094M
YoY Change -3.26% -26.5% 30.76%
Pretax Income -$31.12M $600.3M $72.90M
YoY Change -246.28% 723.54% 418.55%
Income Tax -$345.0K $21.90M $2.021M
% Of Pretax Income 3.65% 2.77%
Net Earnings -$30.79M $578.4M $71.37M
YoY Change -237.0% 710.52% 405.99%
Net Earnings / Revenue -15.77% 31.03% 17.16%
Basic Earnings Per Share -$0.40 $5.88 $0.76
Diluted Earnings Per Share -$0.40 $4.69 $0.66
COMMON SHARES
Basic Shares Outstanding 98.01M shares 85.06M shares 85.74M shares
Diluted Shares Outstanding 111.8M shares 111.8M shares

Balance Sheet

Concept 2014 Q1 2013 Q4 2012 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $935.4M $972.2M $448.7M
YoY Change 132.4% 116.67% -1.01%
Cash & Equivalents $935.4M $972.2M $448.7M
Short-Term Investments $0.00
Other Short-Term Assets $381.1M $339.0M $245.2M
YoY Change 56.32% 38.25% 12.89%
Inventory $29.78M $45.00M $29.69M
Prepaid Expenses
Receivables $53.14M $189.5M $94.24M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.399B $1.546B $817.9M
YoY Change 61.57% 88.98% 8.7%
LONG-TERM ASSETS
Property, Plant & Equipment $42.57M $38.77M $23.70M
YoY Change 67.86% 63.57% 27.42%
Goodwill $226.7M $226.8M $228.8M
YoY Change 0.32% -0.85%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $16.29M $67.72M $35.78M
YoY Change -71.04% 89.29% 383.46%
Total Long-Term Assets $400.2M $439.7M $371.9M
YoY Change -2.79% 18.23% -4.2%
TOTAL ASSETS
Total Short-Term Assets $1.399B $1.546B $817.9M
Total Long-Term Assets $400.2M $439.7M $371.9M
Total Assets $1.800B $1.985B $1.190B
YoY Change 40.83% 66.87% 4.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $16.45M $42.85M $42.26M
YoY Change -79.42% 1.39% 43.75%
Accrued Expenses $397.2M $598.4M $211.4M
YoY Change 73.5% 183.05% 107.28%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $474.8M $693.5M $281.2M
YoY Change 40.9% 146.6% 66.3%
LONG-TERM LIABILITIES
Long-Term Debt $454.0M $448.7M $330.3M
YoY Change 35.45% 35.85% 5.9%
Other Long-Term Liabilities $68.97M $21.14M $12.48M
YoY Change 303.66% 69.35% -16.8%
Total Long-Term Liabilities $523.0M $469.9M $342.8M
YoY Change 48.46% 37.07% 4.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $474.8M $693.5M $281.2M
Total Long-Term Liabilities $523.0M $469.9M $342.8M
Total Liabilities $997.8M $1.163B $625.0M
YoY Change 44.64% 86.15% 25.22%
SHAREHOLDERS EQUITY
Retained Earnings $120.8M $151.6M -$263.3M
YoY Change -150.15% -157.56%
Common Stock $955.8M $945.1M $820.8M
YoY Change 14.68% 15.14%
Preferred Stock
YoY Change
Treasury Stock (at cost) $276.8M $276.8M
YoY Change
Treasury Stock Shares 16.24M shares 16.24M shares
Shareholders Equity $801.8M $822.0M $564.8M
YoY Change
Total Liabilities & Shareholders Equity $1.800B $1.985B $1.190B
YoY Change 40.83% 66.87% 4.31%

Cashflow Statement

Concept 2014 Q1 2013 Q4 2012 Q4
OPERATING ACTIVITIES
Net Income -$30.79M $578.4M $71.37M
YoY Change -237.0% 710.52% 405.99%
Depreciation, Depletion And Amortization $3.522M $3.413M $2.509M
YoY Change 25.52% 36.03% -12.09%
Cash From Operating Activities -$30.50M $595.7M $123.8M
YoY Change -33.84% 381.18% -378.83%
INVESTING ACTIVITIES
Capital Expenditures -$6.300M -$8.000M -$4.300M
YoY Change 40.0% 86.05% 34.38%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$1.000M $0.00
YoY Change
Cash From Investing Activities -$6.300M -$9.000M -$4.300M
YoY Change 40.0% 109.3% 34.38%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 -276.9M 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities -30.50M 595.7M 123.8M
Cash From Investing Activities -6.300M -9.000M -4.300M
Cash From Financing Activities 0.000 -276.9M 0.000
Net Change In Cash -36.80M 309.8M 119.5M
YoY Change -27.27% 159.25% -38.91%
FREE CASH FLOW
Cash From Operating Activities -$30.50M $595.7M $123.8M
Capital Expenditures -$6.300M -$8.000M -$4.300M
Free Cash Flow -$24.20M $603.7M $128.1M
YoY Change -41.83% 371.27% -410.92%

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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-26018000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-23562000 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
-24000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
1000000 USD
CY2013Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
600346000 USD
CY2012Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
72898000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
407269000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-47385000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
14804000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4947000 USD
CY2013Q4 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
578444000 USD
CY2012Q4 us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
70877000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
392465000 USD
us-gaap Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
-52332000 USD
CY2013Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-18000 USD
CY2012Q4 us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
488000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
-73000 USD
us-gaap Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
368000 USD
CY2013Q4 us-gaap Net Income Loss
NetIncomeLoss
578426000 USD
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NetIncomeLoss
71365000 USD
us-gaap Net Income Loss
NetIncomeLoss
392392000 USD
us-gaap Net Income Loss
NetIncomeLoss
-51964000 USD
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IncomeLossFromContinuingOperationsPerBasicShare
-0.61
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IncomeLossFromContinuingOperationsPerDilutedShare
-0.61
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EarningsPerShareDiluted
-0.61
us-gaap Income Loss From Continuing Operations Per Diluted Share
IncomeLossFromContinuingOperationsPerDilutedShare
3.29
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
3.29
CY2013Q4 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
5.88
CY2013Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
4.69
CY2012Q4 us-gaap Income Loss From Continuing Operations Per Basic Share
IncomeLossFromContinuingOperationsPerBasicShare
0.76
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IncomeLossFromContinuingOperationsPerDilutedShare
0.66
CY2012Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.66
CY2013Q4 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent
67000 USD
CY2013Q4 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-474000 USD
CY2012Q4 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-360000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
6518000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent
-42000 USD
CY2012Q4 us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent
449000 USD
us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent
269000 USD
us-gaap Other Comprehensive Income Derivatives Qualifying As Hedges Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent
618000 USD
CY2013Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-407000 USD
CY2012Q4 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
89000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
6787000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
576000 USD
CY2013Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
578019000 USD
CY2012Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
71454000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
399179000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-51388000 USD
ttwo Amortization And Impairment Of Software Development Costs And Licenses
AmortizationAndImpairmentOfSoftwareDevelopmentCostsAndLicenses
252229000 USD
ttwo Amortization And Impairment Of Software Development Costs And Licenses
AmortizationAndImpairmentOfSoftwareDevelopmentCostsAndLicenses
189319000 USD
ttwo Amortization And Impairment Of Intellectual Property
AmortizationAndImpairmentOfIntellectualProperty
3375000 USD
ttwo Amortization And Impairment Of Intellectual Property
AmortizationAndImpairmentOfIntellectualProperty
6678000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
57594000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
22778000 USD
us-gaap Increase Decrease In Deferred Income Taxes
IncreaseDecreaseInDeferredIncomeTaxes
5487000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
17507000 USD
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
13971000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1510000 USD
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
1521000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
414000 USD
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-735000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-77000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
49206000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
14817000 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
7210000 USD
ttwo Increase Decrease In Software Development Costs And Licenses
IncreaseDecreaseInSoftwareDevelopmentCostsAndLicenses
151275000 USD
ttwo Increase Decrease In Software Development Costs And Licenses
IncreaseDecreaseInSoftwareDevelopmentCostsAndLicenses
150479000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
205948000 USD
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
498000 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
24447000 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
12484000 USD
ttwo Accounts Payable Accrued Expenses Income Taxes Payable And Other Liabilities
AccountsPayableAccruedExpensesIncomeTaxesPayableAndOtherLiabilities
47072000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
730793000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
41462000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
12317000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-24455000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-12317000 USD
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
283188000 USD
us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
165999000 USD
us-gaap Proceeds From Hedge Financing Activities
ProceedsFromHedgeFinancingActivities
84429000 USD
us-gaap Payments For Hedge Financing Activities
PaymentsForHedgeFinancingActivities
55651000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2815000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-133684000 USD
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-2986000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
28444000 USD
CY2012Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
420279000 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
448723000 USD
CY2013Q4 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
26752000 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
30304000 shares
CY2013Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
111812000 shares
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-701000 USD
us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
569668000 USD
CY2013Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
16238000 shares
CY2013Q4 ttwo Software Development Costs And Licenses Current
SoftwareDevelopmentCostsAndLicensesCurrent
92767000 USD
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
86970000 shares
CY2013Q4 us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
7418000 USD
us-gaap Interest On Convertible Debt Net Of Tax
InterestOnConvertibleDebtNetOfTax
26221000 USD
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
117274000 shares
CY2013Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
67720000 USD
CY2013Q4 us-gaap Liabilities Of Disposal Group Including Discontinued Operation Current
LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent
827000 USD
CY2013Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
448737000 USD
CY2013Q4 us-gaap Common Stock Value
CommonStockValue
1048000 USD
CY2013Q4 us-gaap Treasury Stock Value
TreasuryStockValue
276836000 USD
CY2013Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
24517000 USD
CY2013Q1 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
3950000 USD
CY2012Q4 us-gaap Undistributed Earnings
UndistributedEarnings
-5808000 USD

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