Name: Take-Two Interactive Software Inc. (NASDAQ:TTWO) | Liabilities and Stockholders’ Equity
Creator: Stock Analysis on Net

Balance Sheet: Liabilities and Stockholders’ Equity

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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Take-Two Interactive Software Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in thousands

	Mar 31, 2025	Mar 31, 2024	Mar 31, 2023	Mar 31, 2022	Mar 31, 2021	Mar 31, 2020
Accounts payable	194,700)	195,900)	140,100)	125,882)	71,001)	65,684)
Software development royalties	419,800)	413,100)	510,700)	615,729)	814,998)	822,416)
Compensation and benefits	268,300)	227,300)	177,500)	133,983)	122,404)	81,791)
Licenses	91,400)	64,400)	63,000)	81,138)	84,330)	57,651)
Marketing and promotions	77,000)	94,500)	132,700)	30,616)	32,591)	40,797)
Tax payable	41,500)	32,400)	33,000)	14,100)	—)	—)
Interest payable	39,200)	29,400)	29,600)	—)	—)	—)
Deferred acquisition payments	35,900)	17,600)	82,700)	78,553)	13,343)	—)
Refund liability	32,800)	34,500)	52,400)	51,711)	53,361)	77,829)
Sales tax liability	24,300)	19,300)	14,000)	17,200)	—)	—)
Professional fees	16,400)	16,700)	9,500)	—)	—)	—)
Settlement accrual	9,500)	—)	—)	—)	—)	—)
Other	71,500)	113,400)	120,600)	51,861)	83,063)	89,400)
Accrued expenses and other current liabilities	1,127,600)	1,062,600)	1,225,700)	1,074,891)	1,204,090)	1,169,884)
Current deferred revenue	1,083,500)	1,059,500)	1,078,800)	865,270)	928,029)	777,784)
Current operating lease liabilities	61,500)	63,800)	60,200)	38,921)	31,595)	25,187)
Short-term debt, net	1,148,500)	24,600)	1,346,800)	—)	—)	—)
Current liabilities	3,615,800)	2,406,400)	3,851,600)	2,104,964)	2,234,715)	2,038,539)
Long-term debt, net	2,512,600)	3,058,300)	1,733,000)	—)	—)	—)
Non-current deferred revenue	25,400)	42,900)	35,500)	70,911)	37,302)	28,339)
Non-current operating lease liabilities	383,300)	387,300)	347,000)	211,297)	159,671)	152,059)
Non-current software development royalties	93,600)	102,100)	110,200)	115,527)	110,127)	104,417)
Deferred tax liabilities, net	259,600)	340,900)	534,000)	21,788)	3,457)	5,130)
Other long-term liabilities	152,700)	211,100)	208,300)	212,073)	151,054)	81,104)
Non-current liabilities	3,427,200)	4,142,600)	2,968,000)	631,596)	461,611)	371,049)
Total liabilities	7,043,000)	6,549,000)	6,819,600)	2,736,560)	2,696,326)	2,409,588)
Preferred stock, $0.01 par value, no shares issued and outstanding	—)	—)	—)	—)	—)	—)
Common stock, $0.01 par value	2,000)	1,900)	1,900)	1,390)	1,376)	1,359)
Additional paid-in capital	10,312,000)	9,371,600)	9,010,200)	2,597,205)	2,288,781)	2,134,748)
Treasury stock, at cost	(1,020,600)	(1,020,600)	(1,020,600)	(1,020,584)	(820,572)	(820,572)
Retained earnings (accumulated deficit)	(7,058,800)	(2,579,900)	1,164,300)	2,288,993)	1,870,971)	1,282,085)
Accumulated other comprehensive loss	(96,900)	(105,100)	(113,300)	(57,345)	(8,664)	(58,376)
Stockholders’ equity	2,137,700)	5,667,900)	9,042,500)	3,809,659)	3,331,892)	2,539,244)
Total liabilities and stockholders’ equity	9,180,700)	12,216,900)	15,862,100)	6,546,219)	6,028,218)	4,948,832)

Based on: 10-K (reporting date: 2025-03-31), 10-K (reporting date: 2024-03-31), 10-K (reporting date: 2023-03-31), 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31).

The company's liability profile underwent a fundamental shift between 2022 and 2023, characterized by a transition from a relatively low-leverage position to a significantly more indebted capital structure. Total liabilities grew from approximately 2.74 billion in 2022 to 6.82 billion in 2023, remaining elevated at 7.04 billion by March 31, 2025.

Debt Obligations and Leverage: A substantial increase in both short-term and long-term debt is evident starting in 2023. Long-term debt, which was non-existent in the reporting periods prior to 2023, rose to 1.73 billion in 2023 and peaked at 3.06 billion in 2024 before adjusting to 2.51 billion in 2025. Short-term debt exhibits high volatility, peaking at 1.35 billion in 2023 and returning to 1.15 billion in 2025, suggesting active debt refinancing or fluctuating short-term borrowing needs.
Equity and Retained Earnings Trends: Stockholders' equity peaked in 2023 at 9.04 billion, largely driven by a sharp increase in additional paid-in capital, which rose from 2.60 billion in 2022 to 9.01 billion in 2023. However, this equity position eroded rapidly in subsequent years, falling to 2.14 billion by 2025. This decline is primarily attributable to a deteriorating retained earnings balance, which shifted from a surplus of 1.16 billion in 2023 to a substantial accumulated deficit of 7.06 billion by March 31, 2025.
Operating Liability Patterns: Software development royalties have shown a consistent downward trend, decreasing from 822.4 million in 2020 to approximately 419.8 million in 2025. Conversely, obligations related to compensation and benefits have steadily climbed from 81.8 million in 2020 to 268.3 million in 2025. Deferred revenue has remained a significant component of current liabilities, maintaining a range between 1.06 billion and 1.08 billion from 2023 through 2025.
Other Long-term Obligations: Non-current operating lease liabilities have increased over the observed period, rising from 152.1 million in 2020 to 383.3 million in 2025. Deferred tax liabilities also saw a notable spike in 2023 to 534 million before trending downward to 259.6 million by 2025.

Overall, the financial trajectory indicates a period of aggressive capitalization in 2023 followed by a significant erosion of the equity base and an increase in long-term leverage. The accumulation of a substantial deficit in retained earnings suggests significant losses or distributions that have offset the initial capital injections.

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