"Intangible assets" are assets that have significant value but no physical presence and provide long-term financial value to a company. Intangible assets that can be valued, sold separately from other assets, and separated from the corporation are considered identifiable intangible assets. Examples of identifiable intangible assets include intellectual property, such as patents, trademarks, and copyrights, as well as non-cash government grants, such as broadcasting licenses or airport landing rights. A trademark is a sign that can be used to separate one company's products or services from those of other businesses. Trademarks are protected under intellectual property laws. Intangible assets are capitalized at fair value as of the date of acquisition rather than cost when acquired separately.
Activision Blizzard’s gross value of intangible assets (Acquired definite-lived) declined from $1,828 million in FY2020 to $1,234 million in FY2021, a decrease of 32%. In FY2021, the company's net value of intangible assets was $14 million. Internally developed franchises, and Trade names and other amounted to $1,154 million and $80 million respectively, based on the company's calculation of the fair value of identified intangible assets. The company's amortization expense for intangible assets was $11 million in FY2021.
The company's total assets increased by $1,947 million, from $23,109 million in FY2020 to $25,056 million in FY2021. The increase is primarily the result of growth in Software development of $51 million and Deferred income taxes of $59 million. The total revenue for FY2021 was $8,803 million, increasing $717 million or 8% from the $8,86 million in FY2020.
The company’s Acquired indefinite-lived intangible assets are Activision trademark and Acquired trade names which were $386 million and $47 million respectively in FY2021.
Activision Blizzard Inc (Activision Blizzard) is a gaming company that develops and publishes interactive software products, entertainment content and services for mobile devices, video game consoles and personal computers. The company develops film and television content and operates esports leagues and events. Activision Blizzard’s iconic franchises include Candy Crush, Overwatch, Call of Duty, Hearthstone, World of Warcraft, and Diablo. It also provides sales and distribution, warehousing, and logistics services to manufacturers of interactive entertainment hardware and third-party publishers of interactive entertainment software. Activision Blizzard sells games through digital and retail distribution channels. The company’s business operations are spread across the Americas, Europe, and Asia-Pacific. Activision Blizzard is headquartered in Santa Monica, California, the US.
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