Take Two Earnings 2020-09-30

Balance Sheet	Income Statement	Cash Flow
Assets, Equity	Rev, G Profit, Net Income	Ops, Inv, Fin

ttwo-20200930

Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q


☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2020


OR
☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from to .

Commission file number 001-34003

TAKE-TWO INTERACTIVE SOFTWARE, INC.

(Exact Name of Registrant as Specified in Its Charter)


Delaware		51-0350842
(State or Other Jurisdiction of Incorporation or Organization)		(I.R.S. Employer Identification No.)
110 West 44th Street		10036
New York	New York	(Zip Code)
(Address of principal executive offices)

Registrant's Telephone Number, Including Area Code: (646) 536-2842

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading symbol	Name of each exchange on which registered
Common Stock, $.01 par value	TTWO	NASDAQ Global Select Market

Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ý No o

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ý No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer

Accelerated filer

Non-accelerated filer

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ý

As of October 23, 2020, there were 115,021,621 shares of the Registrant's Common Stock outstanding, net of treasury stock.

Table of Contents

INDEX

(All other items in this report are inapplicable)

Table of Contents

PART I. FINANCIAL INFORMATION

Item 1. Financial Statements

TAKE-TWO INTERACTIVE SOFTWARE, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except per share amounts)


	September 30, 2020		March 31, 2020
	(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	1,345,099	$	1,357,664
Short-term investments	1,040,786		644,003
Restricted cash and cash equivalents	450,145		546,604
Accounts receivable, net of allowances of $448 and $443 at September 30, 2020 and March 31, 2020, respectively	787,818		592,555
Inventory	26,934		19,108
Software development costs and licenses	73,714		40,316
Deferred cost of goods sold	15,410		19,598
Prepaid expenses and other	192,192		273,503
Total current assets	3,932,098		3,493,351
Fixed assets, net	133,404		131,888
Right-of-use assets	156,310		154,284
Software development costs and licenses, net of current portion	403,390		401,778
Goodwill	521,000		386,494
Other intangibles, net	126,392		51,260
Deferred tax assets	117,692		116,676
Long-term restricted cash and cash equivalents	289,536		89,124
Other assets	156,332		123,977
Total assets	$	5,836,154	$	4,948,832
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable	$	85,103	$	65,684
Accrued expenses and other current liabilities	1,148,617		1,169,884
Deferred revenue	1,063,064		777,784
Lease liabilities	29,051		25,187
Total current liabilities	2,325,835		2,038,539

Non-current deferred revenue	32,880		28,339
Non-current lease liabilities	150,793		152,059
Non-current software development royalties	302,435		104,417
Other long-term liabilities	122,929		86,234
Total liabilities	$	2,934,872	$	2,409,588
Commitments and contingencies (See Note 13)
Stockholders' equity:
Preferred stock, $.01 par value, 5,000 shares authorized; no shares issued and outstanding at September 30, 2020 and March 31, 2020	—		—
Common stock, $.01 par value, 200,000 shares authorized; 137,349 and 135,927 shares issued and 114,928 and 113,506 outstanding at September 30, 2020 and March 31, 2020, respectively	1,373		1,359
Additional paid-in capital	2,285,394		2,134,748
Treasury stock, at cost; 22,421 common shares at September 30, 2020 and March 31, 2020	(820,572)		(820,572)
Retained earnings	1,469,911		1,282,085
Accumulated other comprehensive loss	(34,824)		(58,376)
Total stockholders' equity	2,901,282		2,539,244
Total liabilities and stockholders' equity	$	5,836,154	$	4,948,832

See accompanying Notes.

Table of Contents

TAKE-TWO INTERACTIVE SOFTWARE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(in thousands, except per share amounts)


	Three Months Ended September 30,				Six Months Ended September 30,
	2020		2019		2020		2019
Net revenue	$	841,142	$	857,841	$	1,672,452	$	1,398,300
Cost of goods sold	432,505		468,248		909,194		709,717
Gross profit	408,637		389,593		763,258		688,583
Selling and marketing	113,691		149,566		198,470		241,387
General and administrative	91,433		76,659		193,606		151,492
Research and development	74,216		76,197		147,324		145,160
Depreciation and amortization	13,691		12,024		26,109		23,281
Business reorganization	239		327		239		713
Total operating expenses	293,270		314,773		565,748		562,033
Income from operations	115,367		74,820		197,510		126,550
Interest and other, net	2,706		8,054		10,924		18,479
Loss on long-term investments	655		—		655		—
Income before income taxes	117,418		82,874		207,779		145,029
Provision for income taxes	18,097		11,059		19,953		26,934
Net income	$	99,321	$	71,815	$	187,826	$	118,095
Earnings per share:
Basic earnings per share	$	0.87	$	0.63	$	1.65	$	1.05
Diluted earnings per share	$	0.86	$	0.63	$	1.63	$	1.04

See accompanying Notes.

Table of Contents

TAKE-TWO INTERACTIVE SOFTWARE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited)

(in thousands)


	Three Months Ended September 30,				Six Months Ended September 30,
	2020		2019		2020		2019
Net income	$	99,321	$	71,815	$	187,826	$	118,095
Other comprehensive income (loss):
Foreign currency translation adjustment	18,861		(12,567)		23,562		(21,364)
Cash flow hedges:
Change in unrealized gains	—		5,889		(3,817)		6,092
Reclassification to earnings	—		(4,490)		(1,333)		(3,408)
Tax effect on effective cash flow hedges	—		696		845		687
Change in fair value of effective cash flow hedge	—		2,095		(4,305)		3,371



Change in fair value of available for sale securities	(1,554)		(2)		4,295		720
Other comprehensive income (loss)	17,307		(10,474)		23,552		(17,273)
Comprehensive income	$	116,628	$	61,341	$	211,378	$	100,822

See accompanying Notes.

TAKE-TWO INTERACTIVE SOFTWARE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

(in thousands)


	Six Months Ended September 30,
	2020		2019
Operating activities:
Net income	$	187,826	$	118,095
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization and impairment of software development costs and licenses	92,664		72,505
Depreciation	25,826		23,037
Amortization and impairment of intellectual property	11,801		10,627
Stock-based compensation	98,719		113,199


Other, net	(2,631)		4,325
Changes in assets and liabilities:
Accounts receivable	(189,477)		(463,019)
Inventory	(7,266)		(12,064)
Software development costs and licenses	(127,290)		(51,932)
Prepaid expenses and other assets	65,296		(131,055)
Deferred revenue	284,441		66,148
Deferred cost of goods sold	4,753		15,287
Accounts payable, accrued expenses and other liabilities	182,083		379,005
Net cash provided by operating activities	626,745		144,158
Investing activities:
Change in bank time deposits	(218,239)		6,720
Proceeds from available-for-sale securities	260,729		137,071
Purchases of available-for-sale securities	(435,511)		(141,244)
Purchases of fixed assets	(25,021)		(25,532)

Purchases of long-term investments	(9,100)		(4,500)
Business acquisitions	(75,482)		(8,715)
Net cash used in investing activities	(502,624)		(36,200)
Financing activities:
Tax payment related to net share settlements on restricted stock awards	(48,202)		(61,478)
Issuance of common stock	6,503		—

Net cash used in financing activities	(41,699)		(61,478)
Effects of foreign currency exchange rates on cash, cash equivalents, and restricted cash and cash equivalents	8,966		(8,063)
Net change in cash, cash equivalents, and restricted cash and cash equivalents	91,388		38,417
Cash, cash equivalents, and restricted cash and cash equivalents, beginning of year	1,993,392		1,391,986
Cash, cash equivalents, and restricted cash and cash equivalents, end of period	$	2,084,780	$	1,430,403

See accompanying Notes.

TAKE-TWO INTERACTIVE SOFTWARE, INC.

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY (Unaudited)

(in thousands)


	Three Months Ended September 30, 2020
	Common Stock			Additional Paid-in Capital		Treasury Stock			Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Total Stockholders' Equity
	Shares	Amount				Shares	Amount

Balance, June 30, 2020	136,689	$	1,367	$	2,151,774	(22,421)	$	(820,572)	$	1,370,590	$	(52,131)	$	2,651,028
Net income	—	—		—		—	—		99,321		—		99,321
Change in cumulative foreign currency translation adjustment	—	—		—		—	—		—		18,861		18,861

Net unrealized gain on available-for-sale securities, net of taxes	—	—		—		—	—		—		(1,554)		(1,554)
Stock-based compensation	—	—		45,675		—	—		—		—		45,675

Issuance of restricted stock, net of forfeitures and cancellations	115	1		(1)		—	—		—		—		—
Net share settlement of restricted stock awards	(59)	(1)		(9,695)		—	—		—		—		(9,696)
Employee share purchase plan settlement	—	—		—		—	—		—		—		—
Issuance of shares related to Playdots, Inc. acquisition	604	6		97,641		—	—		—		—		97,647
Balance, September 30, 2020	137,349	$	1,373	$	2,285,394	(22,421)	$	(820,572)	$	1,469,911	$	(34,824)	$	2,901,282


	Three Months Ended September 30, 2019
	Common Stock			Additional Paid-in Capital		Treasury Stock			Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Total Stockholders' Equity
	Shares	Amount				Shares	Amount

Balance, June 30, 2019	135,527	$	1,355	$	2,025,626	(22,421)	$	(820,572)	$	923,906	$	(43,988)	$	2,086,327
Net income	—	—		—		—	—		71,815		—		71,815
Change in cumulative foreign currency translation adjustment	—	—		—		—	—		—		(12,567)		(12,567)
Change in unrealized gains on cash flow hedge, net	—	—		—		—	—		—		2,095		2,095
Net unrealized gain on available-for-sale securities, net of taxes	—	—		—		—	—		—		(2)		(2)
Stock-based compensation	—	—		43,455		—	—		—		—		43,455

Issuance of restricted stock, net of forfeitures and cancellations	164	2		(2)		—	—		—		—		—
Net share settlement of restricted stock awards	(75)	(1)		(9,359)		—	—		—		—		(9,360)
Employee share purchase plan settlement	—	—		—		—	—		—		—		—
Balance, September 30, 2019	135,616	$	1,356	$	2,059,720	(22,421)	$	(820,572)	$	995,721	$	(54,462)	$	2,181,763


	Six Months Ended September 30, 2020
	Common Stock			Additional Paid-in Capital		Treasury Stock			Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Total Stockholders' Equity
	Shares	Amount				Shares	Amount

Balance, March 31, 2020	135,927	$	1,359	$	2,134,748	(22,421)	$	(820,572)	$	1,282,085	$	(58,376)	$	2,539,244
Net income	—	—		—		—	—		187,826		—		187,826
Change in cumulative foreign currency translation adjustment	—	—		—		—	—		—		23,562		23,562
Change in unrealized gains on cash flow hedge, net	—	—		—		—	—		—		(4,305)		(4,305)
Net unrealized gain on available-for-sale securities, net of taxes	—	—		—		—	—		—		4,295		4,295
Stock-based compensation	—	—		94,712		—	—		—		—		94,712

Issuance of restricted stock, net of forfeitures and cancellations	1,094	11		(11)		—	—		—		—		—
Net share settlement of restricted stock awards	(341)	(4)		(48,198)		—	—		—		—		(48,202)
Employee share purchase plan settlement	65	1		6,502		—	—		—		—		6,503
Issuance of shares related to Playdots, Inc. acquisition	604	6		97,641		—	—		—		—		97,647
Balance, September 30, 2020	137,349	$	1,373	$	2,285,394	(22,421)	$	(820,572)	$	1,469,911	$	(34,824)	$	2,901,282


	Six Months Ended September 30, 2019
	Common Stock			Additional Paid-in Capital		Treasury Stock			Retained Earnings		Accumulated Other Comprehensive Income (Loss)		Total Stockholders' Equity
	Shares	Amount				Shares	Amount

Balance, March 31, 2019	134,602	$	1,346	$	2,019,369	(22,421)	$	(820,572)	$	877,626	$	(37,189)	$	2,040,580
Net income	—	—		—		—	—		118,095		—		118,095
Change in cumulative foreign currency translation adjustment	—	—		—		—	—		—		(21,364)		(21,364)
Change in unrealized gains on cash flow hedge, net	—	—		—		—	—		—		3,371		3,371
Net unrealized gain on available-for-sale securities, net of taxes	—	—		—		—	—		—		720		720
Stock-based compensation	—	—		96,706		—	—		—		—		96,706

Issuance of restricted stock, net of forfeitures and cancellations	1,503	15		(15)		—	—		—		—		—

Net share settlement of restricted stock awards	(551)	(6)		(61,472)		—	—		—		—		(61,478)
Employee share purchase plan settlement	62	1		5,132		—	—		—		—		5,133
Balance, September 30, 2019	135,616	$	1,356	$	2,059,720	(22,421)	$	(820,572)	$	995,721	$	(54,462)	$	2,181,763

See accompanying Notes.

Table of Contents

TAKE-TWO INTERACTIVE SOFTWARE, INC.

Notes to Condensed Consolidated Financial Statements (Unaudited)

(in thousands, except per share amounts)

1. BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

Take-Two Interactive Software, Inc. (the "Company," "we," "us," or similar pronouns) was incorporated in the state of Delaware in 1993. We are a leading developer, publisher, and marketer of interactive entertainment for consumers around the globe. We develop and publish products principally through Rockstar Games, 2K, Private Division, Social Point, and Playdots. Our products are designed for console systems and personal computers, including smart phones and tablets, and are delivered through physical retail, digital download, online platforms, and cloud streaming services.

Basis of Presentation

The accompanying Condensed Consolidated Financial Statements are unaudited and include the accounts of the Company and its wholly-owned subsidiaries and, in our opinion, reflect all normal and recurring adjustments necessary for the fair presentation of our financial position, results of operations, and cash flows. Interim results may not be indicative of the results that may be expected for the full fiscal year. All intercompany accounts and transactions have been eliminated in consolidation. The preparation of these Condensed Consolidated Financial Statements in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") requires management to make estimates and assumptions that affect the amounts reported in these Condensed Consolidated Financial Statements and accompanying notes. As permitted under U.S. GAAP, interim accounting for certain expenses, including income taxes, are based on full year assumptions when appropriate. Actual results could differ materially from those estimates, including as a result of the COVID-19 pandemic, which may affect economic conditions in a number of different ways and result in uncertainty and risk.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"), although we believe that the disclosures are adequate to make the information presented not misleading. These Condensed Consolidated Financial Statements and accompanying notes should be read in conjunction with our annual Consolidated Financial Statements and the notes thereto, included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2020.

Certain immaterial reclassifications have been made to prior period amounts to conform to the current period presentation.

Recently Adopted Accounting Pronouncements

Accounting for Fair Value Measurement

In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement, which modifies the disclosure requirements on fair value measurements by removing, modifying, or adding certain disclosures. We adopted this update effective April 1, 2020. The adoption of this standard did not have a material impact on our Condensed Consolidated Financial Statements.

Accounting for Credit Losses

In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses, which replaces the incurred loss impairment methodology in current U.S. GAAP with a methodology that will require the reflection of expected credit losses and will also require consideration of a broader range of reasonable and supportable information to determine credit loss estimates. It also eliminates the concept of other-than-temporary impairment and requires credit losses related to available-for-sale debt securities to be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. For most financial instruments, the standard will require the use of a forward-looking expected loss model rather than the incurred loss model for recognizing credit losses, which will generally result in the earlier recognition of credit losses on financial instruments. We adopted this update effective April 1, 2020 under a modified retrospective basis. No adjustment to retained earnings was recorded as a result of the adoption of this standard, which did not have a material impact on our Condensed Consolidated Financial Statements.

Recently Issued Accounting Pronouncements

Accounting for Reference Rate Reform

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides temporary optional guidance to ease potential accounting impacts associated with transitioning away from reference rates that are expected to be discontinued, such as interbank offered rates and LIBOR. The guidance includes practical expedients for contract modifications due to reference rate reform. Generally, contract modifications related to reference rate reform may be considered an event that does not require remeasurement or reassessment of a previous accounting determination at the modification date. This guidance is effective immediately and is only available through December 31, 2022. We are currently evaluating the potential impact of adopting this guidance on our Consolidated Financial Statements.

Accounting for Income Taxes

In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which enhances and simplifies various aspects of the income tax accounting guidance, including requirements such as tax basis step-up in goodwill obtained in a transaction that is not a business combination, ownership changes in investments, and interim-period accounting for enacted changes in tax law. ASU 2019-12 is effective for fiscal years, and interim periods within those fiscal years, beginning December 15, 2020 (April 1, 2021 for the Company), with early adoption permitted. We are currently evaluating the potential impact of adopting this guidance on our Consolidated Financial Statements.

2. REVENUE FROM CONTRACTS WITH CUSTOMERS

Disaggregation of revenue

Product revenue

Product revenue is primarily comprised of the portion of revenue from software products that is recognized when the customer takes control of the product (i.e., upon delivery of the software product).

Service and other revenue

Service and other revenue is primarily comprised of revenue from game related services, virtual currency transactions, and in-game purchases which are recognized over an estimated service period.

Net revenue by product revenue and service and other was as follows:


	Three Months Ended September 30,				Six Months Ended September 30,
	2020		2019		2020		2019
Net revenue recognized:
Service and other	$	551,576	$	421,747	$	1,083,626	$	846,132
Product	289,566		436,094		588,826		552,168
Total net revenue	$	841,142	$	857,841	$	1,672,452	$	1,398,300

Full game and other revenue

Full game and other revenue primarily includes the initial sale of full game software products, which may include offline and/or significant game related services.

Recurrent consumer spending revenue

Recurrent consumer spending revenue is generated from ongoing consumer engagement and includes revenue from virtual currency, add-on content, and in-game purchases.

Net revenue by full game and other revenue and recurrent consumer spending was as follows:


	Three Months Ended September 30,				Six Months Ended September 30,
	2020		2019		2020		2019
Net revenue recognized:
Recurrent consumer spending	$	495,724	$	318,468	$	975,129	$	633,326
Full game and other	345,418		539,373		697,323		764,974
Total net revenue	$	841,142	$	857,841	$	1,672,452	$	1,398,300

Geography

We attribute net revenue to geographic regions based on software product destination. Net revenue by geographic region was as follows:


	Three Months Ended September 30,				Six Months Ended September 30,
	2020		2019		2020		2019
Net revenue recognized:
United States	$	503,583	$	494,661	$	974,073	$	825,140
International	337,559		363,180		698,379		573,160
Total net revenue	$	841,142	$	857,841	$	1,672,452	$	1,398,300

Platform

Net revenue by platform was as follows:


	Three Months Ended September 30,				Six Months Ended September 30,
	2020		2019		2020		2019
Net revenue recognized:
Console	$	641,269	$	651,818	$	1,252,954	$	1,086,632
PC and other	199,873		206,023		419,498		311,668
Total net revenue	$	841,142	$	857,841	$	1,672,452	$	1,398,300

Distribution channel

Our products are delivered through digital online services (digital download, online platforms, and cloud streaming) and physical retail and other. Net revenue by distribution channel was as follows:


	Three Months Ended September 30,				Six Months Ended September 30,
	2020		2019		2020		2019
Net revenue recognized:
Digital online	$	711,299	$	615,774	$	1,437,525	$	1,043,555
Physical retail and other	129,843		242,067

Price	123.43	EPS	3
Shares	113	P/E	41
MCap	14,000	P/FCF	16
Net Debt	-1,285	EBIT	398
TEV	12,716	TEV/EBIT	32
TTM 2019-12-31, in MM, except price, ratios

10-Q	2020-09-30	Filed 2020-11-06
10-Q	2020-06-30	Filed 2020-08-04
10-K	2020-03-31	Filed 2020-05-22
10-Q	2019-12-31	Filed 2020-02-07
10-Q	2019-09-30	Filed 2019-11-08
10-Q	2019-06-30	Filed 2019-08-06
10-K	2019-03-31	Filed 2019-05-14
10-Q	2018-12-31	Filed 2019-02-06
10-Q	2018-09-30	Filed 2018-11-08
10-Q	2018-06-30	Filed 2018-08-03
10-K	2018-03-31	Filed 2018-05-17
10-Q	2017-12-31	Filed 2018-02-08
10-Q	2017-09-30	Filed 2017-11-08
10-Q	2017-06-30	Filed 2017-08-03
10-K	2017-03-31	Filed 2017-05-24
10-Q	2016-12-31	Filed 2017-02-08
10-Q	2016-09-30	Filed 2016-11-03
10-Q	2016-06-30	Filed 2016-08-05
10-K	2016-03-31	Filed 2016-05-19
10-Q	2015-12-31	Filed 2016-02-04
10-Q	2015-09-30	Filed 2015-11-06
10-Q	2015-06-30	Filed 2015-08-10
10-K	2015-03-31	Filed 2015-05-22
10-Q	2014-12-31	Filed 2015-02-06
10-Q	2014-09-30	Filed 2014-10-30
10-Q	2014-06-30	Filed 2014-08-06
10-K	2014-03-31	Filed 2014-05-14
10-Q	2013-12-31	Filed 2014-02-04
10-Q	2013-09-30	Filed 2013-10-30
10-Q	2013-06-30	Filed 2013-07-31
10-K	2013-03-31	Filed 2013-05-14
10-Q	2012-12-31	Filed 2013-02-06
10-Q	2012-09-30	Filed 2012-10-31
10-Q	2012-06-30	Filed 2012-08-01
10-K	2012-03-31	Filed 2012-05-23
10-Q	2011-12-31	Filed 2012-02-03
10-Q	2011-09-30	Filed 2011-11-08
10-Q	2011-06-30	Filed 2011-08-09
10-K	2011-03-31	Filed 2011-05-25
10-Q	2010-07-31	Filed 2010-09-03
10-Q	2010-04-30	Filed 2010-06-09
10-Q	2010-01-31	Filed 2010-03-10

8-K	2020-11-10
8-K	2020-11-06
8-K	2020-11-05
8-K	2020-09-30
8-K	2020-09-16
8-K	2020-09-04
8-K	2020-08-17
8-K	2020-08-03
8-K	2020-07-10
8-K	2020-05-20
8-K	2020-02-06
8-K	2020-02-04
8-K	2019-11-07
8-K	2019-09-18
8-K	2019-08-05
8-K	2019-06-20
8-K	2019-05-13
8-K	2019-02-08
8-K	2019-02-06
8-K	2018-11-07
8-K	2018-09-21
8-K	2018-08-02
8-K	2018-05-16
8-K	2018-05-14
8-K	2018-04-24
8-K	2018-02-12
8-K	2018-02-07

EX-10.1	xboxagreement.htm
EX-10.4	playstationagreement.htm
EX-31.1	a09302020ttwoex-31x1.htm
EX-31.2	a09302020ttwoex-31x2.htm
EX-32.1	a09302020ttwoex-32x1.htm
EX-32.2	a09302020ttwoex-32x2.htm


PART I.	FINANCIAL INFORMATION	2
Item 1.	Financial Statements (Unaudited)	2
	Condensed Consolidated Balance Sheets	2
	Condensed Consolidated Statements of Operations	3
	Condensed Consolidated Statements of Comprehensive Income	4
	Condensed Consolidated Statements of Cash Flows	5
	Condensed Consolidated Statements of Stockholder's Equity	6
	Notes to Condensed Consolidated Financial Statements	8
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	21
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	35
Item 4.	Controls and Procedures	37
PART II.	OTHER INFORMATION	38
Item 1.	Legal Proceedings	38
Item 1A.	Risk Factors	38
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	38
Item 6.	Exhibits	39
	Signatures	40

TTWO 10Q Quarterly Report

Take Two Earnings 2020-09-30