Spreadsheet: f7e4b931-3e65-46f9-9996-79d05af4fe14
Sheet: TTM P&L

ACTIVISION BLIZZARD INC.
Unaudited Condensed Consolidated Statements of Operations - Trailing Twelve Months (TTM)1
(in millions, except per share data)
GAAP Income Statements
 |  |  |  | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1 | Q2 | Q3 | Q4 | Q1
 |  |  |  | CY09 | CY09 | CY09 | CY10 | CY10 | CY10 | CY10 | CY11 | CY11 | CY11 | CY11 | CY12
 |  |  |  | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM
 | Net revenues |  |  |  |  |  |  |  |  |  |  |  |  | 4755
 | Costs and expenses:
 |  | Cost of sales - product costs |  |  |  | 1432 |  |  |  | 1350 |  |  |  | 1134
 |  | Cost of sales - online subscriptions |  |  |  | 212 |  |  |  | 241 |  |  |  | 238
 |  | Cost of sales - software royalties and amortization |  |  |  | 348 |  |  |  | 338 |  |  |  | 218
 |  | Cost of sales - intellectual property licenses |  |  |  | 315 |  |  |  | 197 |  |  |  | 165
 |  | Product development |  |  |  | 627 |  |  |  |  |  |  |  | 646
 |  | Sales and marketing |  |  |  | 544 |  |  |  |  |  |  |  | 545
 |  | General and administrative |  |  |  | 395
 |  | Restructuring |  |  |  | 23 |  |  |  | 0
 |  | Impairment of intangible assets |  |  |  | 409 |  |  |  | 326
 |  |  | Total costs and expenses
 | Operating income (loss)
 | Investment and other income (expense), net |  |  |  |  |  |  |  |  |  |  |  |  | 3
 | Income (loss) before income tax expense
 | Income tax (benefit) expense |  |  |  |  |  |  |  |  |  |  |  |  | 246
 | Net income (loss)
 | GAAP earnings (loss) per share
 |  | Basic |  |  |  | 0.09000000000000004 |  |  |  | 0.34
 |  | Diluted |  |  |  | 0.09000000000000004 |  |  |  | 0.33
 | Number of shares used in computation
 |  | Basic |  |  |  |  |  |  |  | 1222 |  |  |  | 1148
 |  | Diluted |  |  |  |  |  |  |  | 1236 |  |  |  | 1156
GAAP Income Statements - as a % of Revenue
 |  |  |  | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM
 | Costs and expenses:
 |  | Cost of sales - product costs
 |  | Cost of sales - online subscriptions
 |  | Cost of sales - software royalties and amortization
 |  | Cost of sales - intellectual property licenses
 |  | Product development
 |  | Sales and marketing
 |  | General and administrative
 |  | Restructuring
 |  | Impairment of intangible assets
 |  |  | Total costs and expenses
 | Operating income (loss)
 | Investment and other income (expense), net
 | Income (loss) before income tax expense
 | Income tax (benefit) expense
 | Net income (loss)
 | 1 TTM represents trailing twelve months and a simple summation of the current and the immediate past three quarters information.
Non-GAAP Income Statements
 |  |  |  | CY09 | CY09 | CY09 | CY10 | CY10 | CY10 | CY10 | CY11
 |  |  |  | TTM | TTM | TTM | TTM | TTM | TTM | TTM | TTM
 | Net revenues |  |  |  |  |  |  |  |  | 4803 |  |  |  | 4489
 | Costs and expenses:
 |  | Cost of sales - product costs |  |  |  | 1542 |  |  |  | 1348 |  |  |  | 1121
 |  | Cost of sales - online subscriptions |  |  |  | 212 |  |  |  | 241 |  |  |  | 238
 |  | Cost of sales - software royalties and amortization |  |  |  | 244 |  |  |  | 287 |  |  |  | 159
 |  | Cost of sales - intellectual property licenses |  |  |  | 127 |  |  |  | 100 |  |  |  | 72
 |  | Product development |  |  |  | 591 |  |  |  |  |  |  |  | 606
 |  | Sales and marketing |  |  |  | 537 |  |  |  |  |  |  |  | 539
 |  | General and administrative |  |  |  | 288 |  |  |  |  |  |  |  | 396
 |  |  | Total costs and expenses
 | Operating income (loss)
 | Investment and other income (expense), net |  |  |  |  |  |  |  |  |  |  |  |  | 3
 | Income (loss) before income tax expense
 | Income tax (benefit) expense |  |  |  |  |  |  |  |  |  |  |  |  | 274
 | Net income (loss)
 | Non-GAAP earnings (loss) per share
 |  | Basic |  |  |  | 0.7 |  |  |  | 0.81
 |  | Diluted |  |  |  | 0.69 |  |  |  | 0.79 |  |  |  | 0.93
Non-GAAP Income Statements - as a % of Revenue
 | Costs and expenses:
 |  | Cost of sales - product costs
 |  | Cost of sales - online subscriptions
 |  | Cost of sales - software royalties and amortization
 |  | Cost of sales - intellectual property licenses
 |  | Product development
 |  | Sales and marketing
 |  | General and administrative
 |  |  | Total operating expenses
 | Operating income (loss)
 | Investment and other income (expense), net
 | Income (loss) before income tax expense
 | Income tax (benefit) expense
 | Net income (loss)