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]

c8d43e555052895792484f90a70f3f7db44e961fd0b56b6dd8d5d306029b5d18

b36da08ca649d2a398075b7b4329c5e39e8414b87ad7e56164301dfea541b386

United States

International

- Europe

- Asia Pacific

- Canada and Latin America

Total Revenue

ef6a205176ad769d82a456a375ce194d9efc68b2779403944c15a99d8366e1f0

6baa55abb304c90b15cb26d5c94d4111e9c6fcc415ac8b65d79127cc00c3839e

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)

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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

a4000d2b7b90e1329d2ecc75087a481a2e0fe8c8a30cdf0d3fcbc1828812f99c

Net loss (USD, millions)

Amortization and impairment of software development costs and licenses (USD, millions)

Stock-based compensation (USD, millions)

Noncash lease expense (USD, millions)

Amortization and impairment of intangibles (USD, millions)

Depreciation (USD, millions)

Goodwill impairment (USD, millions)

Interest expense (USD, millions)

Fair value adjustments (USD, millions)

Other, net (USD, millions)

Net cash (used in) provided by operating activities (USD, millions)

Change in bank time deposits (USD, millions)

Sale and maturities of available-for-sale securities (USD, millions)

Purchases of fixed assets (USD, millions)

Purchases of long-term investments (USD, millions)

Business acquisitions (USD, millions)

Other (Investing activities) (USD, millions)

Net cash (used in) provided by investing activities (USD, millions)

Tax payment related to net share settlements on restricted stock awards (USD, millions)

Issuance of common stock (USD, millions)

Payment for settlement of convertible notes (USD, millions)

Proceeds from issuance of debt (USD, millions)

Cost of debt (USD, millions)

Repayment of debt (USD, millions)

Payment of contingent earn-out consideration (USD, millions)

Net cash provided by (used in) financing activities (USD, millions)

Effects of foreign currency exchange rates on cash, cash equivalents, and restricted cash and cash equivalents (USD, millions)

Net change in cash, cash equivalents, and restricted cash and cash equivalents (USD, millions)

Interest paid (USD, millions)

Income taxes paid (USD, millions)

Cash, cash equivalents, and restricted cash and cash equivalents, beginning of year (USD, millions)

Cash, cash equivalents, and restricted cash and cash equivalents, end of period (USD, millions)

Take-Two Interactive Software Inc (TTWO)

Financials