The following are the conditions that must be met in order to recognize revenue in accordance with SOP 00-2: Under the Co-Production Agreement, we share equally with Disney in the profits of The Incredibles, Finding Nemo, Monsters, Inc., Toy Story 2 Pixar, Marvel, Star Wars and . operations. At January3, 2004 and January1, 2005, options to purchase 6,819,488 and 5,627,842 shares of Our Common Stock trades on The NASDAQ Stock Markets NASDAQ National About PUMA. Pixar also leases certain office space in Emeryville, California under a 3-year operating We believe that the popularity Prior to being named President of Oracle, she held various other positions with Oracle from 1999. Faster and lower cost graphic cards provide capability for h20V0P00Q0QM-ILI,IT047&TG0vv h8 endstream endobj 1371 0 obj <>stream Investments are accounted for under Statement of Financial Accounting Standards (SFAS) No. We expect continuing increases to our operating expenses to fund greater A: The French company Euro Disney S.C.A., parent company of Euro Disney Associs S.C.A., operator of Disneyland Resort Paris, is no longer publicly traded and was delisted from Euronext Paris in June 2017. individual-film-forecast-computation method as defined in SOP 00-2. to financial statements. In addition, as PCs become more powerful, software suppliers may also be able to In h00V0P00Q0QM-ILI,IT014&TG0vv E) endstream endobj 1431 0 obj <>stream Forecasting film revenue and associated gross profits from our feature films is extremely difficult. To date, we have created and produced six full-length computer-animated feature films, which were marketed and distributed by The Walt Disney Company (along with its subsidiaries hereinafter referred to as Disney). In February 2004, The Contribution to Cinematic Imagery Award is voted from time to time to an individual whose body of work in the film business Portions of our Overhead are difficult to predict the related home video, television licensing, merchandising and ancillary revenue streams. h01U0P01S0QM-ILI,IT04&TG0vv W? Disney annual revenue for 2022 was $82.722B, a 22.7% increase from 2021. related products, and to a lesser extent, software licensing. Froman has been Vice Chairman and President, Strategic Growth at Mastercard Incorporated since 2018. h24T0P04R0QM-ILI,IT0 &TG0vv = endstream endobj 1375 0 obj <>stream each Picture and any related merchandise as well as other ancillary products, after recovery of all marketing and distribution costs (which Disney finances), a distribution fee paid to Disney and any other predefined fees or costs, including any In 2020, 65 % of the material seized (3.3 tonnes) was cathinone powders, of which N-ethylhexedrone accounted for one third, while 3-MMC and 3-CMC our operating costs, which could in turn adversely affect our profitability. In 1991, we entered into a feature film agreement (the Feature Film Agreement) with Walt Disney Pictures, a wholly owned subsidiary of the Walt Disney Company (together with its company, nor has any such interlocking relationship existed in the past. extreme price and volume fluctuations, some of which have been unrelated or disproportionate to the operating performances of the companies affected. Our films are distributed to television markets throughout the world. Sample tax certification form and instructions regarding tax treatment of cash consideration received in connection with the acquisition of Twenty-First Century Fox, Inc. by The Walt Disney Company. Pursuant to the Co-Production Agreement, in addition to co-financing the production costs of the Pictures, Disney will reimburse Prices for electricity have in the past risen dramatically and may increase in the future. million to $6 million in capitalized film production costs during fiscal 2006. In such event, the price of our Common Stock may be materially adversely affected. The release of a film during a period of relatively low theater attendance is likely to affect the films box office receipts adversely. h02W0P0P0QM-ILI,IT013 &TG0vv i8 endstream endobj 1443 0 obj <>stream respective amortization percentages in previous years due to increases in their ultimate revenue. We The increase in 2004 compared to 2003 was primarily due He currently serves on the boards of the 9/11 Memorial & Museum, Bloomberg Philanthropies, Perfect Day and Genies; and served as chairman of the capital campaign for the new Academy Museum of Motion Pictures in Los Angeles. FASB ratified the measurement and recognition guidance and certain disclosure requirements for impaired securities as described in Emerging Issues Task Force (EITF) Issue No. Interest Disney can terminate the agreement under various circumstances. h23T0P033P0QM-ILI,IT042&TG0vv h2 endstream endobj 1359 0 obj <>stream Therefore, there may be some indirect foreign A: Dividend reinvestment is offered through The Walt Disney Company Investment Plan. See Risk Factors The Co-Production Agreement imposes several risks and restrictions on us.. In March revenues are not sufficient to recover the unamortized film production costs, the unamortized film production costs will be written down to net realizable value. We are to be given the option to co-finance and produce, or to participate on a passive financial basis with respect to, a Derivative Work that is (1)a theatrical motion picture, (2)a made-for-home video production, (3)a h232W0P03P0QM-ILI,IT03 J&TG0vv N endstream endobj 1343 0 obj <>stream feature film releases or product releases could have a material adverse effect on our business, operating results and financial condition. replaced by the Equity Plan. We are a leading digital animation studio with the creative, technical and production capabilities to create animated feature films and related products. managements assessment and an opinion on the effectiveness of Pixars internal control over financial reporting based on our audit. In the layout stage, artists place the digital models into a scene and position the digital cameras at the angles from which the three-dimensional shot g; # #) ') #" #) ()' *) $# )' ) . share-based payment arrangements including stock options and employee stock. essential to our success and ability to compete. Cash Flows. The accounting provisions of SFAS 123R are effective for annual reporting periods beginning after June15, 2005. companies which intend to produce computer-animated feature films or other products. Also, projections of any 131, Disclosures about Segments of an that makes our technologies obsolete. However, the results of legal proceedings cannot be These computer graphics special effects firms may be capable securities. In the past we have experienced minor delays as a result of such matters. The 2005 fiscal year ended December31, 2005 and consisted of 52 weeks. been returned to the 1995 Plans after August20, 2004 on account of the expiration, cancellation or forfeiture of awards granted thereunder. We used existing cash resources to fund these facility-related costs. continue to be extremely difficult to forecast. respect to theatrical sequels, made-for-home video sequels, television productions, interactive media products and other derivative works related to the Pictures, we will have the opportunity to co-finance and produce such products or to earn Litigation may be necessary in the future to enforce our intellectual property rights, to protect our trade secrets, to protect our patents, to determine the validity and scope of the proprietary rights of others, or Other comprehensive income (loss) refers to revenue, expenses, gains and losses that under generally accepted accounting principles are recorded as an element of shareholders equity but are excluded from net B.A. that with respect to theatrical sequels, made-for-home video sequels, television productions, interactive media products and other derivative works related to the Pictures (except for Ratatouille), we will have the opportunity to co-finance Prior to that, Income tax expense In addition, we automatically be granted an option to purchase 20,000 shares of Common Stock (a Subsequent Option) each year on the date of such anniversary, provided he or she is then a non-employee director. Use this form to enroll in The Walt Disney Company Investment Plan: Use this form to transfer ownership of The Walt Disney Company shares: Use this form to authorize direct deposits into your bank account: If you are a Registered or Beneficial Shareholder in The Walt Disney Company, click below to order electronic delivery of financial information. In March2004, the FASB ratified the measurement BusinessEmployees and Executive Officers of the Company.. In 2003, Finding Nemo became the best selling home The Company entered into a Distribution Letter Agreement (the Distribution Letter Pursuant to the Co-Production Agreement, we receive statements and payments of our share of gross receipts monthly The following table reflects pro forma net income and net income per share had the Company elected to adopt the fair value-based method (in thousands, December31, 2005 are as follows (in thousands): Selected balance sheet components are as follows (in thousands): Less accumulated depreciation and amortization. February17, 2006that the informal inquiry had been terminated. computer graphics special effects firms have licensed or may license RenderMan. On February1, 2006, the plaintiff dismissed the action voluntarily. See Note 9 of Notes to Financial Statements for further discussion h05V0P05Q0QM-ILI,IT054 &TG0vv t2 endstream endobj 1455 0 obj <>stream Similar to return reserves, these expense estimates are reviewed and may be adjusted periodically to ensure that the most accurate depiction of the Companys participation Flushed Away, Happy Feet, and Meet the Robinsons, among others. CSR REPORT 2021; CSR REPORT 2020; Doing Business With FOX; EEO-1 DATA; Human Rights Statement; Insider Trading and Confidentiality Policy . category, such as home video, merchandise or television, depends on factors unique to each type of product, such as pricing, competitive products, and the time of year or state of the economy into which a product is released, among many other practice, Pixar prepares funding requests for forecasted film production costs and Disney funds its share on a monthly basis at approximately the beginning of the month. There are abandoned property laws that require us to remit dividends and stock holdings for inactive accounts. Although the amount of your dividend may be negligible, we encourage you to keep your account up to date by cashing your check. universities around the world. SFAS 123R requires the Q: When did Disney declare the most recent dividend payment? film directors, producers, animators, other creative personnel and technical directors, could have a material adverse effect on our business, operating results or financial condition. make an additional investment in Disney shares. Links to individual state unclaimed property programs may be found by visiting: www.unclaimed.org. He is the Executive Producer of Monsters, Inc., Finding Nemo and The Incredibles and in 2001 he was given an honorary doctorate degree from the American He is currently a member of the Academy of Motion Picture Arts and We believe that the adoption of SFAS 153 will not have a material effect on our results of operations, financial position or cash flows. Annual Performance Report (FFY 2020) Annual Performance Report (FFY 2020) Rhode Island Determination Letter (FFY2020) District State Performance Plan (SPP) Reporting. Film revenue for 2005 included $151.7 million from The Incredibles, primarily attributable to worldwide home video revenues and consumer products Financial Instruments and Concentration of Credit Risk. The 2004 Plan is intended to attract, motivate, Additionally, we adjusted our estimates on expense margins for Finding Nemo Each non-employee director will be eligible persons that no Forms 5 were required for such persons, we believe that during fiscal 2005 all Section16(a) filing requirements applicable to our executive officers, directors and 10% shareholders were complied with. We believe that the primary competitive factors in the market for animated distribution by Disney. There can be no assurance that these third-party technology licenses will continue to be available to us on commercially reasonable terms. See Legal Proceedings in Item3 of this Form 10-K. As described in Risk FactorsOur operating results have fluctuated in the past, and we expect such fluctuations to continue, Pixar entered into the Distribution Letter Agreement with Disney on January27, 2006, regarding the distribution of Ratatouille. Traditionally, this process has been extremely difficult. A: SEC documents are accessible on the Internet by clicking here. In fiscal years 2003, 2004, and 2005, Disney represented 94%, 90% and 93% of total revenue, respectively, and 97%, 83%, and 74% of total accounts You can request a replacement by accessing your account online at www.disneyshareholder.com. with the Walt Disney Company. (1)a distribution fee paid to Disney, (2)any participations paid to third parties and (3)Disneys distribution costs. Pixars independent registered public accounting firm, KPMG LLP, has issued an audit report on our assessment of Pixars internal control over financial reporting. Toll: 1-781-575-3335, Website: www.disneyshareholder.com values of the elements. . (beginning January1, 2005 and ending January1, 2014) the aggregate number of shares reserved for issuance under the 2004 Plan will increase by a number of shares equal to the lesser of (i)3% of the outstanding shares on the Under appropriate circumstances, we have in the past elected and might in the future elect to license our rendering technology patents to other companies, other services. increased spending on production costs and differences in the timing of the collection of our receivables from Disney, partially offset by an overall increase in net income. You may request enrollment materials online at www.disneyshareholder.com or you can contact us at our toll free number: 1-855-553-4763. Although Mr.Jobs spends time Capitalized income is recorded using an effective interest rate with the associated premium or discount amortized to interest income. A: Computershare Investor Services (Computershare) is the Stock Transfer Agent and Registrar for The Walt Disney Company. of the Computer Division of Lucasfilm, Ltd., where he managed four development efforts in the areas of computer graphics, video editing, video games and digital audio. video sales, including DVD and VHS formats, continue to be among the largest contributors to lifetime revenues of our films. accountant. h275V0P075Q0QM-ILI,IT064&TG0vv 0 endstream endobj 1406 0 obj <>stream We recognize revenue from our films net of distribution fees, reserves for returns, and marketing and We believe competition from animated feature films and family-oriented feature films will likely continue to intensify over the next several years. On March23, 2005, we announced that our Board of Directors had approved a two-for-one stock split of our Common Stock and a proportional increase in the number of authorized shares of our Common Stock from was $79.7 million, $79.4 million, and $88.7 million for fiscal years 2003, 2004 and 2005, respectively, and differed from the amounts computed by applying the U.S. federal income tax rate of 35% to pretax income from operations as a result of the Pixars internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements 144, Accounting for the Impairment or Disposal of Long-Lived Assets, the Company reviews for The decrease in cash generated from operating activities during fiscal year 2005 compared to fiscal 2004 resulted primarily from In the opinion of management, Pixar does not have a potential liability related to any current legal proceedings and claims that marketing expenses may increase in future periods, particularly in the areas of public relations, corporate marketing, and consumer products. may assert infringement claims against us. The unaudited quarterly financial statements have been prepared on In November 2001, we released Monsters, Inc., our fourth animated Top Dividend Stocks. 115, Accounting for Certain Investments in Debt and Equity Securities, and are classified as available for sale. The table below provides information regarding our investment portfolio at Only stock option incentive awards have been granted under the 2004 Plan as of December31, 2005. No. profits. The following discussion addresses the Our success and ability to compete is dependent in part upon our proprietary technology. The SEC As of December31, 2005, we had approximately 850 employees and contractors. Diluted earnings per share (EPS) from continuing operations for the quarter was comparable to the prior-year quarter at $0.09. at 2.00 per share through a tender offer and subsequent mandatory buy-out. Item4. Until 1996, we had generated recurring revenue primarily from the license of our RenderMan software, amounts we received under software development contracts and fees for animated television commercial development. reflected in the above table. not responsible for any losses Disney incurs. films. of estimation for revenue recognition. The Co-Production Agreement contemplates In 2003, our income tax rate approximated U.S. Federal and California State statutory pre-production. To address these risks, we must, among other things, respond to changes in the competitive environment, continue to attract, retain and motivate qualified persons, and continue to upgrade our In fiscal year 2006, we expect to spend approximately $110 million to $115 million, net of Safra A. Catz has been a Chief Executive Officer of Oracle Corporation since 2014. Members of this group were responsible for many of the award-winning inventions that make three-dimensional computer animation possible, including texturing, shading, motion blur, Express in November 2004. Mr.Lasseter is an Academy Award-winning director and animator, the Director of Toy Story, A Bugs Life, Toy Story 2 and Cars and Executive Producer for Monsters, Inc., Finding Nemo and The Incredibles. those awards is included in the table below: John Lasseter is While we rely on a combination of h277T0P077R0QM-ILI,IT06 &TG0vv (9 endstream endobj 1415 0 obj <>stream The Merger Agreement has been approved by the Boards of Directors of both Pixar and In 2006, our revenue, operating results, and earnings per share will be largely dependent upon (1)the timing and amount of worldwide revenues and Comprehensive income consists of two components, net income and other The following table sets forth, for each of the Named Officers included in the Summary Compensation Table, the stock options In the event Our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports 2005. Further, we may be directly or indirectly dependent upon union members, and work stoppages or strikes organized by such unions could materially adversely impact our business, These pro forma amounts may not be representative of future disclosures since the estimated fair Such concentration of ownership may also have the effect of delaying or preventing a change in control of Pixar, impeding a merger, consolidation, takeover or other business combination involving Pixar, or For example, we do Because Disney co-finances the films developed and produced under the Co-Production Agreement (except for Ratatouille,

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