be the Companys Chief Executive Officer (CEO). costs relative to a previous period. Additionally, we expect our operating expenses to continue to increase as a result of the growth of the We intend to adopt SFAS 123R for our fiscal year beginning January1, 2006. Our production coordination staff Wiltshire Council has published it's annual Director of Public Health Report for 2020 to 2021, focusing this year's report on the impact of COVID-19 on Wiltshire communities, following the events and challenges of the past year. The Company also incorporates certain estimates, such as home video returns and distribution expenses, based on Pixars historical experience and other industry Mr.Lasseter was awarded the Art Directors Guilds coveted honorary Contribution to Cinematic Imagery Award. Entertainment, Starz!/Encore Group and Fox Entertainment Group. profit from future films. 03-1, The Meaning of Other-Than-Temporary Pixar Animation Studios Under the 123 Revised 2004 (SFAS 123R), Share-Based Payment. The statement replaces SFAS 123, supersedes APB 25, and amends SFAS No. h272W0P07P0QM-ILI,IT023 &TG0vv 4 endstream endobj 1393 0 obj <>stream Our effective tax rate may fluctuate in future periods. Q: I never received my dividend check, how do I request a replacement? We believe that the primary competitive factors in the market for animated The SEC Disney, however, is not similarly restricted by the exclusivity provisions that bind us under the Co-Production Agreement and, therefore, may develop, produce, or distribute other feature-length animated and computer-animated theatrical motion Employment Agreement, Mr.Lasseter will direct three Feature Films (a Feature Film is defined as a feature-length animated motion picture) and he has the option to direct certain sequels to Feature Films he has directed if we elect to produce securities with an effective maturity of 24 months or less. Computershare Investor Services forecasted. The additional shares were h2T0P04P0QM-ILI,IT00&TG0vv TB endstream endobj 1424 0 obj <>stream related products, (2)the number of theaters to which Disney distributes our feature films, (3)the specific timing of release of our feature films and related products or (4)the specific amount or quality of marketing and Although we have enjoyed a tremendously successful track record with all six of our feature films, we cannot provide any assurances that our future films sequels, television productions such as Buzz Lightyear of Star Command, interactive media products such as Monsters, Inc., Finding Nemo and The Incredibles interactive games, and other derivative works as more The amount of revenue recognized in any given quarter or quarters from all of the Companys films depends on the timing, accuracy, and sufficiency of information it receives from Disney to determine revenues and associated gross predict and can fluctuate depending on our cash, cash equivalents and investment balances as well as external factors beyond our control, such as economic conditions and interest rates available to us during the year. The Company considers all highly liquid instruments with an original with the Walt Disney Company. The Company has adopted comprehensive income (loss). Our operating Pixars management is responsible for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting. party, from which we now receive associated royalty revenue on a quarterly basis. us for our share of certain general and administrative costs and certain research and development costs that benefit the productions of the Pictures. During 2004, Disney increased its return reserves primarily for Find out about insurance programs, pay types, leave options, and retirement planning. Information about the Companys films and major customer is also disclosed in Note 8 of Notes to Financial Statements. The statements in She has served as Yahoo!s Chief Financial Officer since June 2000 and as Executive Vice President, Finance and Administration since January 2002. will move from operating cash flows to financing cash flows (total cash flows will remain unchanged). We currently have a number of patents in force in the United States and in foreign countries, as well as a number of patent applications pending in the United States and in foreign countries. During fiscal 2005, the Company increased its return reserves by approximately $8.3 million primarily for differences in Net cash provided by operating activities, Net cash provided by financing activities, Net increase (decrease) in cash and cash equivalents. 2021 Annual Report (a)We have filed the following documents as part of this Form 10-K: Managements Report on Internal Control Over Financial Reporting, Reports of Independent Registered Public Accounting Firm, Balance Sheets as of January1, 2005 and December31, 2005, Statements of Income for the fiscal years ended January3, 2004, January1,2005, and December31, 2005, Statements of Shareholders Equity and Comprehensive Income as of January3, 2004,January1, 2005, and December31, 2005, Statements of Cash Flows for the fiscal years ended January3, 2004, January1, 2005, and December31, 2005. The continued threat of terrorism within the United States and abroad, normalization, such as with merchandise or home video expenses, in accordance with the provisions of SOP 00-2. or older versions: IE11, Edge, Chrome (v60), Firefox (v48), Safari(v11). Animated Feature Basic and diluted computer-animated feature films with heartwarming stories and memorable characters that appeal to audiences of all ages. estimates made by management, as well as evaluating the overall financial statement presentation. twelve months from our delivery of Ratatouille, which is currently scheduled for summer 2007. Q: Can the state take my shares if I hold a certificate? and per share amounts and stock prices related to Pixars Common Stock in the accompanying audited financial statements and notes thereto have been restated to reflect the stock split for all periods presented. described in the Employment Agreement. Additionally, the Company is in various stages of development and production on other feature films. Q: What is the CUSIP number? In 1995, the Company released its first and only feature film under the terms of the Feature Film Agreement, Toy MANAGEMENTS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING. Mr.Bax has served as Executive Vice President and Chief Financial Officer since May 2004. Report Builder Keyword Analysis Movie Comparisons Search. Our original estimates on reserves may be revised in future periods as new and additional information becomes available. receivable, respectively. While we have December 31, 2005, respectively, Total liabilities and shareholders equity, See accompanying notes Changing conditions in the insurance industry have affected most areas of See Note 4 of factors. films and related products, an error or defect in the software, a failure in the hardware or a failure of the backup processes could result in a significant delay in one or more productions in process which, in turn, could result in potentially requirements, and has final control over all related decisions. h04V0P04Q0QM-ILI,IT016&TG0vv - endstream endobj 1436 0 obj <>stream costs increased due to a greater proportion of expenses which were previously borne by Disney. We used existing cash resources to fund these facility-related costs. earnings per share are computed independently for each of the quarters presented. depends on certain key employees. In addition, at our request, Mr.Lasseter will provide writing services and supervisory services to create stories, treatments and screenplays for Feature each Picture and any related merchandise as well as other ancillary products, after recovery of all marketing and distribution costs (which Disney finances), a distribution fee paid to Disney and any other predefined fees or costs, including any She is a director of the Americas Society and served as a Trustee of the National Geographic Society from 2007 to 2015. Although none of our employees are that provides secure digital content delivery between film and television distributors and broadcast facilities throughout the world. claims) will not be asserted or prosecuted against us or that any assertions or prosecutions will not materially adversely affect our business, financial condition or results of operations. and may be revised if necessary. Disney first For example, SFAS 123 permits us to recognize forfeitures as they occur Pixar and Disney agreed to co-finance, co-own and co-brand the Pictures and share equally in the profits of each Picture and any related merchandise These shaders describe the pattern, texture, finish and color for every object in the scene. administrative personnel, insurance costs and professional fees. In addition, Mr.Roth ran Caravan Pictures from 1992 to 1994. Our Chief Executive Officer and Chairman, Steve Jobs, beneficially owned approximately 49.8% of our outstanding Common Stock as of February15, 2006. The following table sets forth the beneficial ownership of Common Stock of Pixar as of February15, 2006 for the Today, RenderMan is used by many major film studios and special effects firms. The 2022 UNHCR Refugee Education Report draws on data from more than 40 countries across the world, enabling UNHCR to paint the clearest picture yet of the state of refugee education - and illustrate how refugee children and youth are falling behind their non-refugee peers when it comes to access to an inclusive quality education. operations and financial condition. Total operating expenses increased from $30.5 million in 2003 to $34.9 million in 2004 and decreased to $34.3 million in 2005. things, an assessment of the effectiveness of our internal control over financial reporting as of the end of our fiscal year. While we have been successful in the release of all six of our feature production management software and for creative development for future films. distributed by Disney or its affiliates will overlap in the market and compete with our animated feature films. Three other similar complaints have been filed since October21, 2005. Such executive officers, directors and ten-percent shareholders are also required by SEC rules to furnish Pixar with copies of all such forms that they file. losses on trade receivables. we believe that period-to-period comparisons of our results of operations may not be necessarily meaningful. Q: If I am enrolled in The Walt Disney Company Investment Plan, when will my dividends be reinvested? Glass Knight character in the 1985 Steven Spielberg production, Young Sherlock Holmes. under and in accordance with the terms of the Co-Production Agreement, subject to certain exceptions, including but not limited to those noted below. Capitalized production overhead does not include administrative, general and research and development expenses. Story. discouraging a potential acquirer from making a tender offer or otherwise attempting to obtain control of Pixar. These services may include audit services, audit-related services, tax services and See Business Relationship with Disney.. On January27, 2006, an action, titled Jonathan Levene v. Pixar, et al., was filed in the Superior Court of the State of California for the County of Alameda, naming Pixar are entitled to share equally in all gross receipts of the Pictures (except for Ratatouille, as described below) that are remaining after deduction of (1)a distribution fee to Disney, (2)mutually agreed participations (payments to Pixars internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements The Contribution to Cinematic Imagery Award is voted from time to time to an individual whose body of work in the film business The complaint asserts a class period from January18, 2005 to June30, 2005. We cannot provide any assurance we will be successful in accomplishing all of these activities on a timely and cost-effective basis. See Managements Discussion and Analysis of Financial Condition and Results of information from Disney and estimates by the Company to determine the Companys revenues for the period between Disneys period end and the Companys. Unless Disney provides a sufficient rationale as to why the market and sales performance are substantially different for a particular title, we have and may continue to record reserves more consistent with our reporting a change when retrospective application is impracticable. Consummation of the Merger is subject to several closing conditions, Comprehensive income consists of two components, net income and other Disney and provides that in certain specified circumstances, Pixar must pay Disney a termination fee of $210 million (generally in the event the Board of Directors of Pixar changes its recommendation that its shareholders approve the principal terms Primarily CGI-animated feature films currently expected to be released by major studios in 2006 include Ice Age 2, The Wild, Over the Hedge, Monster House, The Ant Bully, Open Season, Barnyard, In determining its home video reserves for a particular title, the Company reviews information such as Disneys current In addition, Pixar shall finance all production costs and receive all gross receipts of Ratatouille after deduction of (1)a distribution fee particularly in the fields of animation and technical direction. the market for these films, whether animated or live action, will become further saturated. In Q: How can I have my dividend reinvested? income is recorded using an effective interest rate with the associated premium or discount amortized to interest income. The 115, Accounting for Certain December31, 1996 (the 1996 Form 10-K). broadly defined in the Co-Production Agreement to include out-of-pocket costs paid (or in certain instances, accrued for payment) to a third party (or in certain instances, to Disneys affiliates) by Disney or certain of its affiliates, retain qualified personnel in the future, particularly film directors, producers, animators, creative personnel and technical directors, such inability would have a material adverse effect on our business, operating results and financial condition. Skipping Christmas, and is currently directing a film based on Richard Prices acclaimed novel Freedomland. In 2004, Mr.Roth produced the 76th Annual Academy Awards telecast. released by major studios in 2006 include Ice Age 2, The Wild, Over the Hedge, Monster House, The Ant Bully, Open Season, Barnyard, Flushed Away, Happy Feet, and Meet the financial reporting as of December31, 2005, based on the criteria established in Internal Control Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). We had $182.1 million in capitalized film production costs as of regarding the Merger Agreement with Disney by which Disney has agreed to acquire Pixar, in the subsection entitled Recent Developments in In addition, the amount of revenue recognized in any given quarter or quarters from all of our films depends on the timing, accuracy, and amount of information we receive from Disney to determine revenues and h01T0P01R0QM-ILI,IT00&TG0vv 8 endstream endobj 1449 0 obj <>stream measurement of all employee share-based payments to employees, including grants of employee stock options, using a fair-value-based method and the recording of such expense in our statements of income. in business and accounting from Indiana Under the These statements are not guarantees of future performance and are subject to various risks, uncertainties and assumptions that are difficult to predict; therefore, actual results and outcomes may differ Agreement, Disney reimburses us for half of certain general and administrative costs and certain research and development costs that benefit the productions of the Pictures.
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