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.
Paying user area
Try for free
Activision Blizzard Inc. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value (EV)
- Enterprise Value to FCFF (EV/FCFF)
- Return on Assets (ROA) since 2008
- Price to Sales (P/S) since 2008
- Analysis of Revenues
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Activision Blizzard Inc. for $22.49.
This is a one-time payment. There is no automatic renewal.
We accept:
Activision Blizzard Inc., consolidated cash flow statement
US$ in millions
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).
- Net Income
- Net income displayed a fluctuating trend over the analyzed period. Starting at $1,813 million in 2018, it declined to $1,503 million in 2019, then increased significantly to a peak of $2,699 million in 2021 before falling sharply to $1,513 million in 2022. This indicates variability in profitability with a notable peak in 2021.
- Deferred Income Taxes
- Deferred income taxes showed inconsistent values, with negative amounts in most years except for a slight positive figure in 2021. These fluctuations suggest the impact of varying tax timing differences across periods.
- Non-cash Operating Lease Cost
- This expense was introduced in 2019, remaining relatively stable around the mid-60s million range until increasing to $77 million in 2022, indicating rising lease-related operating expenses.
- Depreciation and Amortization
- Depreciation and amortization expenses decreased notably, from $509 million in 2018 to $106 million in 2022, with a consistent downward trend, suggesting possible asset disposals or changes in amortization schedules.
- Amortization of Capitalized Software Development Costs
- This expense witnessed fluctuations, decreasing from $489 million in 2018 to $225 million in 2019, then increasing to $324 million in 2021 before dropping again to $213 million in 2022, reflecting variations in capitalized software project amortizations.
- Share-based Compensation Expense
- Share-based compensation expense followed an upward trend peaking at $508 million in 2021, then slightly decreased to $462 million in 2022, indicating increasing employee compensation costs related to equity awards.
- Operating Assets and Liabilities Changes
- Changes in operating assets and liabilities varied significantly, with large negative changes in several years, particularly in accrued expenses and other liabilities, which turned positive in 2022. Deferred revenues showed a substantial positive change in 2022, indicating increased customer prepayments or deferred income.
- Net Cash Provided by Operating Activities
- Cash flow from operating activities generally increased from $1,790 million in 2018 to a peak of $2,414 million in 2021, before a slight decrease to $2,220 million in 2022, demonstrating strong operational cash generation capacity.
- Investing Activities
- Net cash used in investing activities was relatively moderate through 2021 but surged dramatically in 2022 to -$4,994 million, primarily due to large purchases of held-to-maturity investments and business acquisitions, indicating a strategic increase in long-term investments.
- Financing Activities
- Cash flows from financing activities showed negative amounts in most years except 2020, when proceeds from debt issuance led to a positive inflow of $711 million. Dividends paid steadily increased over the period, reflecting consistent shareholder returns. The net cash outflows in 2021 and 2022 suggest debt repayments and other financing costs.
- Cash and Cash Equivalents
- The cash balance generally increased from 2018 to 2021, peaking at $10,438 million, then decreased significantly to $7,086 million in 2022, consistent with the large investing cash outflows in the latter year.
- Overall Financial Trends
- The data reveals a company with strong operating cash flow and volatile profitability. Significant investing outlays in 2022 resulted in a substantial decline in cash reserves. Financing activities indicate active debt management and steady dividend payouts. Expense trends suggest efforts to manage amortization and compensation costs, while operating liabilities and deferred revenues show varying working capital dynamics.