TAKE TWO INTERACTIVE SOFTWARE INC
For the period ended Dec 31, 2023. Filed Feb 9, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2023 · Filed Feb 9, 2024
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Condensed Consolidated Statements of Cash Flows
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
| Nine Months Ended December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Operating activities: | ||
| Net loss | $(841.2) | $(514.4) |
| Adjustments to reconcile net loss to net cash provided by operating activities: | ||
| Amortization and impairment of software development costs and licenses | 152.1 | 147.6 |
| Stock-based compensation | 255.0 | 238.5 |
| Noncash lease expense | 46.4 | 35.2 |
| Amortization and impairment of intangibles | 924.9 | 740.1 |
| Depreciation | 101.6 | 62.9 |
| Goodwill impairment | 165.4 | — |
| Interest expense | 103.2 | 79.0 |
| Gain on debt extinguishment | (7.7) | — |
| Fair value adjustments | 1.7 | 37.1 |
| Other, net | 30.6 | (23.7) |
| Changes in assets and liabilities, net of effect from purchases of businesses: | ||
| Accounts receivable | 98.0 | 158.0 |
| Software development costs and licenses | (457.3) | (362.9) |
| Prepaid expenses and other current and other non-current assets | (47.8) | (23.5) |
| Deferred revenue | 27.2 | (88.1) |
| Accounts payable, accrued expenses and other liabilities | (559.3) | (450.0) |
| Net cash (used in) provided by operating activities | (7.2) | 35.8 |
| Investing activities: | ||
| Change in bank time deposits | 21.2 | 123.0 |
| Sale and maturities of available-for-sale securities | 144.0 | 436.1 |
| Purchases of fixed assets | (95.5) | (137.7) |
| Proceeds from sale of long-term investment | — | 20.6 |
| Purchases of long-term investments | (17.5) | (10.2) |
| Business acquisitions | (17.5) | (3,241.8) |
| Other | (8.2) | (4.8) |
| Net cash provided by (used in) investing activities | 26.5 | (2,814.8) |
| Financing activities: | ||
| Tax payment related to net share settlements on restricted stock awards | (76.6) | (90.6) |
| Issuance of common stock | 38.1 | 22.3 |
| Payment for settlement of convertible notes | — | (1,166.8) |
| Proceeds from issuance of debt | 999.3 | 3,248.9 |
| Cost of debt | (7.5) | (22.4) |
| Settlement of capped calls | — | 140.1 |
| Repayment of debt | (989.6) | (200.0) |
| Payment of contingent earn-out consideration | (35.7) | (26.9) |
| Net cash (used in) provided by financing activities | (72.0) | 1,904.6 |
| Effects of foreign currency exchange rates on cash, cash equivalents, and restricted cash and cash equivalents | 7.9 | (18.6) |
| Net change in cash, cash equivalents, and restricted cash and cash equivalents | (44.8) | (893.0) |
| Cash, cash equivalents, and restricted cash and cash equivalents, beginning of year (1) | 1,234.6 | 2,195.3 |
| Cash, cash equivalents, and restricted cash and cash equivalents, end of period (1) | $1,189.8 | $1,302.3 |
(1) Cash, cash equivalents and restricted cash and cash equivalents shown on our Condensed Consolidated Statements of Cash Flow includes amounts in the Cash and cash equivalents, Restricted cash and cash equivalents, and Long-term restricted cash and cash equivalents on our Condensed Consolidated Balance Sheet.
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