Adjustments for Non-Cash Items [USD, Millions]

Stock-Based Compensation [USD, Millions]

Changes in Working Capital [USD, Millions]

Capital Expenditures (CapEx) [USD, Millions]

Proceeds from / Repayments of Debt [USD, Millions]

Share Repurchases [USD, Millions]

Dividend Payments [USD, Millions]

Net Change in Cash [USD, Millions]

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b36da08ca649d2a398075b7b4329c5e39e8414b87ad7e56164301dfea541b386

ec56f6e1ee9c8ce35e2363cbe6e9db79235e05ce8170086c6919e4f103ce70db

United States

International

- Europe

- Asia Pacific

- Canada and Latin America

Total Revenue

8898195efad204e56cc2c47f5f7f16de37e289dae7217b87aa7dc8c76c1bfdf2

Grand Theft Auto series total units sold-in worldwide (million units)

Grand Theft Auto V total units sold-in worldwide (million units)

Red Dead Redemption 2 total units sold-in worldwide (million units)

Zynga portfolio total downloads (billion times)

7c77e70a6956f15ef3a9fe637942bf9d1e0c450fa27bb03b13d4627fec1cea6a

3a8d804f8d59be72c7f5309cc9e91a5edffd88e287e67319eafbfcb51adf82eb

The sharp drop in **Short-term debt, net** in Q4 2024 was primarily due to the **repayment of the 2024 Notes and Term Loan** during the fiscal year. This repayment significantly reduced the debt from **$1,346.8 million** as of March 31, 2023, to **$24.6 million** as of March 31, 2024, even though the company's debt activity also included the issuance of **2026 Notes and 2028 Notes**.  **[0001628280-24-024623_ttwo-20240331.htm:120]** **[0001628280-24-024623_ttwo-20240331.htm:122]** 

Why did Short-term debt, net drop so sharply in Q4 2024?

The significant decline in Total assets in Q4 2024 is explained by substantial impairments across several key areas. **Goodwill** saw a marked reduction—dropping by **$2,342.1 million** due to a lower forecasted performance of one of the company's reporting units. Additionally, **other intangibles, net** decreased from **$4,453.2 million to $3,060.6 million** as a result of amortization and impairment charges, and **deferred tax assets** fell dramatically from **$44.8 million to $1.9 million**. These factors combined led to the overall decline in total assets to **$12,216.9 million in Q4 2024**.  **[0001628280-24-023782_ttwo4q24earningsrelease.htm:8]** **[0001628280-24-024623_ttwo-20240331.htm:149]** 

What explains the significant decline in Total assets in Q4 2024?

The sharp reduction in Goodwill in Q4 2024 was primarily driven by a **goodwill impairment charge of $2,342.1 million**. This impairment resulted from a **decline in forecasted performance** for one of the reporting units, influenced by **industry conditions** and **changes in game strategies**. Additionally, a detailed **qualitative and quantitative analysis**—using discounted cash flow and guideline public company methodologies—indicated that the fair value of the reporting unit was less than its carrying amount, which necessitated the impairment charge.  **[0001628280-24-024623_ttwo-20240331.htm:149]** **[0001628280-24-024623_ttwo-20240331.htm:131]** **[0001628280-24-024623_ttwo-20240331.htm:73]** **[0001628280-24-024623_ttwo-20240331.htm:117]** 

What led to the sharp reduction in Goodwill in Q4 2024?

The surge in **Cash and cash equivalents** in Q3 2025 was primarily driven by a significant increase in **Net Cash Provided by Financing Activities** – notably, proceeds from debt issuances such as the 2029 and 2034 Notes contributed **$628.2 million**. This financing boost more than offset the **$(324.2) million** used in operating activities, **$(88.7) million** used in investing activities, and a **$(8.4) million** impact from foreign currency exchange fluctuations, resulting in an increase from **$754.0 million** to **$1,206.8 million**.  **[0001628280-25-004308_ttwo-20241231.htm:2]** **[0001628280-25-004262_ttwo3q25earningsrelease.htm:7]** **[0001628280-25-004308_ttwo-20241231.htm:54]** **[0001628280-25-004262_ttwo3q25earningsrelease.htm:8]** 

Why did Cash and cash equivalents surge in Q3 2025?

3e69f463d39c4874db82b7385dab4b2e502256bc27302e2d6605eb9ebd7a4c77

Take-Two Interactive Software Inc (TTWO)

Financials