Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Activision Blizzard Inc., consolidated cash flow statement

US$ in millions

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Net income	1,513)	2,699)	2,197)	1,503)	1,813)
Deferred income taxes	(164)	7)	(94)	(352)	20)
Non-cash operating lease cost	77)	65)	65)	64)	—)
Depreciation and amortization	106)	116)	197)	328)	509)
Amortization of capitalized software development costs	213)	324)	249)	225)	489)
Share-based compensation expense	462)	508)	218)	166)	209)
Other	(31)	(26)	28)	4)	53)
Accounts receivable, net	(231)	71)	(194)	182)	(114)
Software development	(693)	(426)	(378)	(275)	(372)
Other assets	(140)	(114)	(88)	186)	(56)
Deferred revenues	987)	(537)	216)	(154)	(122)
Accounts payable	37)	(7)	(10)	31)	(65)
Accrued expenses and other liabilities	84)	(266)	(154)	(77)	(574)
Changes in operating assets and liabilities, net of effect of business acquisitions	44)	(1,279)	(608)	(107)	(1,303)
Adjustments to reconcile net income to net cash provided by operating activities	707)	(285)	55)	328)	(23)
Net cash provided by operating activities	2,220)	2,414)	2,252)	1,831)	1,790)
Proceeds from maturities of available-for-sale investments	213)	214)	121)	153)	116)
Proceeds from sale of available-for-sale investments	26)	66)	—)	—)	—)
Purchases of available-for-sale investments	(109)	(248)	(221)	(65)	(209)
Purchases of held-to-maturity investments	(4,899)	—)	—)	—)	—)
Acquisition of business, net of cash acquired	(135)	—)	—)	—)	—)
Capital expenditures	(91)	(80)	(78)	(116)	(131)
Other investing activities	1)	(11)	—)	6)	(6)
Net cash used in investing activities	(4,994)	(59)	(178)	(22)	(230)
Proceeds from issuance of common stock to employees	47)	90)	170)	105)	99)
Tax payment related to net share settlements on restricted stock units	(214)	(246)	(39)	(59)	(94)
Dividends paid	(367)	(365)	(316)	(283)	(259)
Proceeds from debt issuances, net of discounts	—)	—)	1,994)	—)	—)
Repayment of long-term debt	—)	—)	(1,050)	—)	(1,740)
Payment of financing costs	—)	—)	(20)	—)	—)
Premium payment for early redemption of note	—)	—)	(28)	—)	(25)
Other financing activities	—)	—)	—)	—)	(1)
Net cash provided by (used in) financing activities	(534)	(521)	711)	(237)	(2,020)
Effect of foreign exchange rate changes on cash and cash equivalents	(44)	(48)	69)	(3)	(31)
Net increase (decrease) in cash and cash equivalents and restricted cash	(3,352)	1,786)	2,854)	1,569)	(491)
Cash and cash equivalents and restricted cash at beginning of period	10,438)	8,652)	5,798)	4,229)	4,720)
Cash and cash equivalents and restricted cash at end of period	7,086)	10,438)	8,652)	5,798)	4,229)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Activision Blizzard Inc. net cash provided by operating activities increased from 2020 to 2021 but then decreased significantly from 2021 to 2022.
Net cash used in investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Activision Blizzard Inc. net cash used in investing activities increased from 2020 to 2021 but then decreased significantly from 2021 to 2022.
Net cash provided by (used in) financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Activision Blizzard Inc. net cash provided by (used in) financing activities decreased from 2020 to 2021 and from 2021 to 2022.

Activision Blizzard Inc. (NASDAQ:ATVI)

Cash Flow Statement