Common stock, shares authorized (in shares)

[Table of](#i8fbc3dcd16fb4e35b37f64f296545b43_13) [Contents](#i8fbc3dcd16fb4e35b37f64f296545b43_13)PART I. FINANCIAL INFORMATION  
Item 1. Financial Statements (Unaudited)  
ACTIVISION BLIZZARD, INC. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)(Amounts in millions, except share data)  


|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  | At March 31, 2022 |  | At December 31, 2021 |
| Assets |  |  |  |
| Current assets: |  |  |  |
| Cash and cash equivalents | $ | 10,967  |  |  | $ | 10,423  |  |
| Accounts receivable, net of allowances of $31 and $36, at March 31, 2022 and December 31, 2021, respectively | 530  |  |  | 972  |  |
|  |  |  |  |
| Software development | 433  |  |  | 449  |  |
| Other current assets | 556  |  |  | 712  |  |
| Total current assets | 12,486  |  |  | 12,556  |  |
|  |  |  |  |
| Software development | 289  |  |  | 211  |  |
| Property and equipment, net | 174  |  |  | 169  |  |
| Deferred income taxes, net | 1,308  |  |  | 1,377  |  |
| Other assets | 511  |  |  | 497  |  |
| Intangible assets, net | 445  |  |  | 447  |  |
| Goodwill | 9,799  |  |  | 9,799  |  |
| Total assets | $ | 25,012  |  |  | $ | 25,056  |  |
|  |  |  |  |
| Liabilities and Shareholders’ Equity |  |  |  |
| Current liabilities: |  |  |  |
| Accounts payable | $ | 207  |  |  | $ | 285  |  |
| Deferred revenues | 835  |  |  | 1,118  |  |
| Accrued expenses and other liabilities | 1,249  |  |  | 1,008  |  |
|  |  |  |  |
| Total current liabilities | 2,291  |  |  | 2,411  |  |
| Long-term debt, net | 3,608  |  |  | 3,608  |  |
| Deferred income taxes, net | 375  |  |  | 506  |  |
| Other liabilities | 907  |  |  | 932  |  |
| Total liabilities | 7,181  |  |  | 7,457  |  |
| Commitments and contingencies ([Note 16](#i8fbc3dcd16fb4e35b37f64f296545b43_283)) |  |  |  |
| Shareholders’ equity: |   |  |   |
| Common stock, $0.000001 par value, 2,400,000,000 shares authorized, 1,210,312,481 and 1,207,729,623 shares issued at March 31, 2022 and December 31, 2021, respectively | —  |  |  | —  |  |
| Additional paid-in capital | 11,927  |  |  | 11,715  |  |
| Less: Treasury stock, at cost, 428,676,471 shares at March 31, 2022 and December 31, 2021 | (5,563) |  |  | (5,563) |  |
| Retained earnings | 12,053  |  |  | 12,025  |  |
| Accumulated other comprehensive loss | (586) |  |  | (578) |  |
| Total shareholders’ equity | 17,831  |  |  | 17,599  |  |
| Total liabilities and shareholders’ equity | $ | 25,012  |  |  | $ | 25,056  |  |

  
The accompanying notes are an integral part of these Condensed Consolidated Financial Statements.4
