Activision Blizzard Inc. (NASDAQ:ATVI)

The financial data from 2018 to 2022 reveals several significant trends across various asset categories. Overall, there is a consistent growth in total assets, increasing from $17,835 million at the end of 2018 to $27,383 million by the close of 2022, indicating an expansion in the company's asset base over this five-year period.

Cash and cash equivalents

Cash reserves grew substantially from $4,225 million in 2018 to a peak of $10,423 million in 2021, followed by a decline to $7,060 million in 2022. Despite the drop in the final year, the overall trend represents a strong liquidity position with fluctuations potentially reflecting operational needs or investment activities.

Held-to-maturity investments

Data is only available for 2022, showing a balance of $4,932 million. This indicates a new or newly reported asset category, suggesting a strategic allocation into more stable investments during the last year.

Accounts receivable, net

The accounts receivable balance fluctuated with a decrease from $1,035 million in 2018 to $848 million in 2019, followed by a recovery and moderate growth to $1,204 million in 2022. This pattern may reflect changes in sales, credit policies, or collection efficiency.

Software development (current and non-current)

Investments in software development demonstrate a notable upward trend in both current and non-current portions combined. Current software development increased from $264 million in 2018 to $640 million in 2022, while non-current software development rose sharply from $65 million in 2018 to $641 million in 2022. This substantial growth indicates a strong focus on product development and investment in intellectual property assets.

Other current assets

These fluctuated over the period, initially dropping from $582 million in 2018 to $328 million in 2019, then recovering to $712 million in 2021 before falling slightly to $633 million in 2022. The variability suggests changing operational requirements or asset reclassification.

Current assets

Current assets exhibited significant growth from $6,106 million in 2018 to $14,469 million in 2022, more than doubling over the period. This increase aligns with the growth seen in cash, receivables, and software development, reinforcing improved liquidity and working capital positions.

Property and equipment, net

There was a consistent decline in property and equipment from $282 million in 2018 to $169 million in 2021, followed by a slight increase to $193 million in 2022. This pattern may indicate asset disposals or reduced capital expenditures during most years, with a potential shift in 2022.

Deferred income taxes, net

The deferred tax asset experienced a significant increase from $403 million in 2018 to a peak of $1,377 million in 2021, then decreased to $1,201 million in 2022. This trend suggests growing tax benefits recognized over time, with some utilization or revaluation in the last year.

Other assets

Other assets showed moderate fluctuations, increasing from $482 million in 2018 to $658 million in 2019, then generally declining to $497 million in 2021 before a slight recovery to $508 million in 2022. These changes indicate variations in miscellaneous long-term assets.

Intangible assets, net

The net intangible assets consistently declined from $735 million in 2018 to $442 million in 2022, reflecting amortization or impairment actions over the years.

Goodwill

Goodwill remained relatively stable, increasing modestly from $9,762 million in 2018 to $9,929 million in 2022, suggesting limited acquisitions or adjustments during the period.

Non-current assets

Non-current assets held steady around $12,500 million for most years, with a slight increase to $12,914 million in 2022, indicating stable long-term asset investments.