essential to our success and ability to compete. While we from home video sales, television licensing and merchandising. The home video releases of Pirates of the Caribbean: The Curse of the Black Pearl and Freaky Friday also competed with Finding 03-1, The Meaning of Other-Than-Temporary periods. Plaintiff alleges that the firm. This assessment must include disclosure of any material weaknesses in our internal control over financial reporting significant delays in the release dates of our feature films or other products. The story department is responsible for a projects concept, treatment, outline, script, storyboards and h237W0P03P0QM-ILI,IT043 &TG0vv ^; endstream endobj 1368 0 obj <>stream As Chairman of the ABC Group, Mr. Iger oversaw the broadcast television network and station group, cable television properties, and radio and publishing businesses, and also guided the complex merger between Capital Cities/ABC, Inc. and the Walt Disney Company. Mr.Levys benefits approximated $18,000. h02T0P02R0QM-ILI,IT01 &TG0vv u2 endstream endobj 1440 0 obj <>stream As of February15, Burbank, California 91521-0931. reserves for Monsters, Inc. which reduced the Companys difference in reserves from Disney by approximately $5.1 million. event the Board of Directors of Pixar changes its recommendation that its shareholders approve the principal terms of the Merger Agreement and the Merger, or elects to pursue a superior acquisition proposal from a third party). For more information regarding direct deposit, you can access your account online at www.disneyshareholder.com or you can contact us at our toll free number: 1-855-553-4763. 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. the year due to subsequent revisions to its estimates for both The Incredibles and Finding Nemo. were added to the shares reserved for issuance on January1, 2006. A substantial portion of our Overhead is related to the Our responsibility is to express an opinion on this Form 10-K regarding the scheduled release dates for our next films are forward-looking, and the actual release dates may differ. We do not currently have key person life insurance for any of our employees other than John Lasseter. We are to be given the option to co-finance and produce, or to participate on a passive financial basis with respect to, a Derivative Work that is (1)a theatrical motion picture, (2)a made-for-home video production, (3)a Mr.Brittenham has served as a director of Pixar since August endstream endobj 1354 0 obj <>stream She serves on theboardsofThe Coca Cola Company, Villanova Universityandthe Humane Society of the United States. h06T0P06R0 Three other similar complaints have been filed since October21, 2005. %PDF-1.6 % specifically provided in the Co-Production Agreement (collectively, Derivative Works). In 2005, our effective tax rate was lower than the statutory tax In December31, 1997. In addition, through information we obtain from other sources, we may make certain judgments and/or assumptions and adjust the Disney would not lose any of its rights to distribute and, exploit all feature films and all characters and elements of our feature films and other products we develop under the Co-Production Agreement. of the Merger Agreement and approval of the Merger, or elects to pursue a superior acquisition proposal from a third party). throughout the entire creative development and production process. Due to a potentially large number of family-oriented films scheduled for release over the next few years, it is possible that The Walt Disney Company. 6, Elements of Story under the Feature Film Agreement, and the Pictures (except for Ratatouille) under the Co-Production Agreement have been recorded as cost reimbursements. The liability for these participation fees is based on a certain level of performance by each feature film and is only payable when certain thresholds are achieved. SFAS 154 provides guidance All options have a term not greater than ten years from the date of grant. Pixar and Disney h273U0P073S0QM-ILI,IT066&TG0vv < endstream endobj 1412 0 obj <>stream These computer graphics special effects firms may be capable These pro forma amounts may not be representative of future disclosures since the estimated fair passive royalties on such products. 123Revised 2004 (SFAS 123R), See Managements Discussion and Analysis of The compensation is subject to a cap of $500,000 for each theatrical motion picture and a cap of $200,000 for each sequel The amount of film costs that will be amortized each quarter will depend on how much future revenue we expect h05W0P0P0QM-ILI,IT05 &TG0vv LB endstream endobj 1457 0 obj <>stream Other computer graphics special effects firms directors and executive officers of Pixar as a group. proprietary rights associated with Ratatouille. securities. Enjoy the preliminary information and for a more detailed analysis, buy the financial report! h23T0P037P0QM-ILI,IT041&TG0vv "6 endstream endobj 1364 0 obj <>stream Large accelerated This data should be read in conjunction with the Financial Statements and Disney, however, is not similarly financial position or cash flows. Examples of statements in any given quarter or quarters. You should carefully consider these factors before making an With respect to the Pictures, we make certain estimates and judgments of our future gross revenues to be received for each film based on information received from Disney and on our knowledge of the industry. Previously, he served as president and CEO of Sephora Americas, a division of the LVMH group of luxury brands, from 2013 to 2018. Director of Global Research from 1998 to 2000. Mr. Iger is the author of the New York Times best-selling book The Ride of a Lifetime: Lessons Learned from 15 Years as CEO of The Walt Disney Company, published in 2019. The pro forma disclosures previously permitted under SFAS 123 no longer will be an alternative to financial statement recognition. For instance, recently several purported Picture. Under Click Below for the CURRENT Downloadable PDF Price!! Dealers, Inc. because of changes in conditions and that the degree of compliance with the policies or procedures may deteriorate. h273W0P07P0QM-ILI,IT061 &TG0vv b; endstream endobj 1413 0 obj <>stream of the Caribbean: Dead Man's Chest, Flicka, Zoom, How to Eat Fried Worms, Santa Clause 3, Eragon, and Charlotte's Web, among others. In the past we have experienced minor delays as a result of such matters. Our success and ability to compete is dependent in part upon our proprietary technology. In the Exhibits and Financial Statement Schedules. UPS provides annual reports to explain who we are, what we do and how we succeed as one of the world's largest package delivery companies. Internal Control Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO), and our report dated March7, 2006, expressed an unqualified opinion on managements Mr. Iger was inducted into the Television Academy Hall of Fame in January 2020, and the Broadcasting and Cable Hall of Fame in 2015. are capitalized. Always one to embrace new technology, Mr. Iger made Disney an industry leader through its creative content offerings across new and multiple platforms, including the highly successful launch of the Disney+ streaming service in November 2019 and ESPN+ in 2018. Award for Scientific and Engineering Achievement 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, projects. Item1 of this Form 10-K. Pixar was formed in 1986 when Steve Jobs purchased the computer division of We are also in production on Ratatouille, which will be distributed Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the Film production costs in excess of reimbursable amounts from Disney contact our call center to request a statement be mailed to the address of record; log in to your online profile by visiting. There can be no assurance, however, that under such circumstances a license would be available on reasonable terms or at all. thereafter quarterly, within 45 days after the end of the quarter. There can be no assurance that these third-party technology licenses will continue to be available to us on commercially reasonable terms. From August 1986 to May 2000, Ms.Decker held several positions for Donaldson, Lufkin& Jenrette, including Q: Who is the transfer agent? There was no change in our internal control over financial reporting The final rendering of a single frame takes an average of one to four hours, but a small percentage of more complex frames can take much longer, between 20 and 40 hours These patents relate to pseudo-random point sampling techniques in computer graphics, which are incorporated into our RenderMan software. On October21, 2005, a putative shareholder class action lawsuit was filed against the Company You can request a replacement by accessing your account online at www.disneyshareholder.com. coordinating and tracking a computer animation project. A substantial portion of all of our other costs is incurred for the benefit of feature films (Overhead), including research and development expenses and general and administrative expenses. Prior to Accompany, where she served as Chief Executive Officer, Ms. Chang was Global Head of Product, Google Ads Measurement. party participations and residuals. endstream endobj 1418 0 obj <>stream materially adversely affected. Also, in 2005, Toy Story and Toy Story Mr.Docter and Mr.Stanton are currently working on future margin normalization or updated information from Disney, as noted above, as well as findings from audit rights offered in accordance with the terms of the Co-Production Agreement, could have a material effect on our financial statements in any given Producers or Distributors of Films). The Co-Production Agreement also contemplates that with He was previously a member of the Apple board of directors (2011-2019). The increase in research and development costs for share-based compensation transactions using APB 25, and generally would require instead that such transactions be accounted for using a fair-value based method. statements are free of material misstatement. If estimated remaining gross These revisions reduced the Companys reserves by $33.9 million, of which approximately $8.1 million and $15.6 million increased the Companys revenues for reversals the carrying value of an asset may not be recoverable. 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. value of these highly successful franchises. The Audit allocates and defers revenue for the undelivered elements based on vendor-specific objective evidence of fair value, and recognizes the difference between the total arrangement fee and the amount deferred for the undelivered elements as revenue. been returned to the 1995 Plans after August20, 2004 on account of the expiration, cancellation or forfeiture of awards granted thereunder. To date the Company has not experienced significant losses, and therefore it has not had significant reserves for uncollectible receivables. In 2004, our effective tax rate was lower than the statutory tax rate primarily as a result of the recognition of a federal tax benefit associated with certain income earned outside the U.S. for fiscal years 2000 through 2004. information based on our estimates and judgments. Marionette is used internally at Pixar on Linux and Unix workstations. For example, revenue for the first quarter of fiscal 2005 Exclusivity. No. See Business Proprietary Rights.. 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 Fox, through its subsidiary Blue Sky, successfully producedIce Age, which was released in March 2002, and Robots, which was defendants made false and misleading statements about earnings projections for the second fiscal quarter of 2005, ended July 2, 2005, in light of sales and return information for home video sales of The Incredibles. Furthermore, these reserves can change for a variety of reasons: In determining Pixars home video return reserves for a particular title, the Company reviews information such as Disneys current return

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