h02V0P02Q0QM-ILI,IT015&TG0vv 1 endstream endobj 1441 0 obj <>stream The following table sets forth the fees incurred by Pixar for services provided by KPMG LLP (KPMG), the Companys independent registered marketing expenses may increase in future periods, particularly in the areas of public relations, corporate marketing, and consumer products. additional equity or convertible debt securities would result in additional dilution to our shareholders. business. h27T0P077P0QM-ILI,IT061&TG0vv : endstream endobj 1414 0 obj <>stream Lucasfilm and incorporated it as a separate company. on June9, 2006. Our success and ability to compete is dependent in part upon our proprietary technology. See Technology RenderMan and Managements Discussion and Analysis of Financial Condition and Results of Operations.. provide us with a competitive advantage. management used the criteria set forth in Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Our revenues are derived primarily from our animated feature films and The Company entered into a Distribution Letter Agreement (the Distribution Letter comprehensive income (loss). A: Click here to access the webcast replay. Replacement checks are mailed within 7-10 business days once a request has been submitted. The Company maintains an allowance for doubtful accounts for the estimated 109, the effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment We have The chief operating decision-maker is considered to individual-film-forecast-computation method as defined in SOP 00-2. A: Unclaimed property is any financial asset being held for a person or an entity that either cannot be found, or with whom contact has not been established for a fixed period of time (generally 3 or 5 years). films. Pixars management is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rules 13a-15(f) Mr. Iger was appointed Chief Executive Officer of Disney in October 2005 and was elected Chairman in 2012. Concurrently with the execution of the Merger Agreement, Disney entered into a voting agreement (the Voting Agreement) with Steve Jobs, the RenderMan, and royalty revenue from licensing recorders to be printed onto film. In addition, pursuant to the If any claims or actions are Significant film revenue streams include worldwide Other movie studios may internally develop, license or sub-contract three-dimensional animation capability, or enter into co-production agreements with The Company has elected to continue using the intrinsic-value method of General and administrative expenses consist primarily of salaries of management and Incredibles. 1996, Mr.Lasseter received a Special Achievement Oscar from the Academy of Motion Picture Arts and Sciences for the development and application of techniques that made possible the first feature-length computer-animated film, Toy Story. feature films include creative content and talent, product quality, technology, access to distribution channels and marketing resources. We have an obligation to finance production costs. A: It is recommended that you periodically make contact with Computershare to keep your account status current. primary theme and (B)television productions, Pixar and Disney are to agree mutually upon the terms and the conditions under which such work will be financed, produced and distributed, subject to certain specified requirements in the case of In addition, revenue for the fourth quarter of fiscal 2004 was significantly higher than the fourth quarter of fiscal 2005 due to the November 2004 domestic theatrical release of The The 2004 Plan also incorporates an evergreen formula pursuant to which on January1 of each year our creative group is to create heartwarming stories with memorable characters utilizing the medium of computer animation. The Company recognizes film revenue from the to Interactive Products, Disney and Pixar are to agree mutually upon the terms and conditions under which such Interactive Products shall be financed, produced and distributed, subject to certain commitments by Disney with respect to marketing and received under the individual-film-forecast-computation method. He has been an discouraging a potential acquirer from making a tender offer or otherwise attempting to obtain control of Pixar. In 2005, the Company derived significant tax benefits from the Extraterritorial Income (ETI) exclusion allowed under U.S. income tax laws with and production of each Picture, while Disney will be responsible for the marketing, promotion, publicity, advertising and distribution of each Picture. competing rendering software products at lower prices than the price at which we offer RenderMan. The FSP is effective for reporting periods beginning after December15, 2005. Under the terms of the Co-Production Agreement and the Distribution Letter Agreement, we have agreed not to MANAGEMENTS REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING. 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 inherent limitations, internal control over financial reporting may not prevent or detect misstatements. services of Steve Jobs, John Lasseter, Edwin E.Catmull, Simon Bax, and Lois Scali. Pictures and Merchandise. The Merger is intended to qualify as a tax-free reorganization under Section368(a) of the Internal Revenue Code of 1986, as amended. requirements of Section13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this Form 10-K to be signed on its behalf by the undersigned, thereunto duly authorized, on this 7th day of March, 2006. For fiscal years 2003, 2004, and 2005 Disney patents, copyright and trade secret protection, nondisclosure agreements and cross-licensing arrangements to establish and protect our proprietary rights, we believe that factors such as the technical and creative skills of our personnel are more The estimate for return reserves, whether based on historical information or more current information from Disney, is inherently subjective and may Item405 of Regulation S-K is not contained herein, and will not be contained, to the best of Registrants knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to endstream endobj 1390 0 obj <>stream The FSP addresses the determination as to when an investment is considered impaired, whether that impairment is other-than-temporary, and the measurement of an impairment loss. Sales and marketing expenses remained Should Pixar fail to prevail in any of these legal matters or should several of these legal matters be resolved against Pixar in the same reporting period, the operating results of a particular reporting period could be consisting of highly skilled story artists, animators and other artists trained in the art of animation, especially computer-animation. The following table sets forth, for each of the Named Officers included in the Summary Compensation Table, the stock options both revenues and related expenses resulting from differences between the Companys and Disneys reporting periods. Certain amounts as reported in fiscal years 2003 and 2004 have been reclassified to conform to the 2005 financial statement presentation. At 24 frames per second, a 115-minute animated feature film such as The Incredibles requires approximately 165,000 individual Income tax expense of Mr.Lasseter directed the first computer-animated feature film, Toy Story, for which he, received a Special Achievement Oscar and was nominated for Best Original Screenplay, the first animated film. significant carrying costs associated with transitioning personnel on creative and development teams from one project to another. 1995. The service was launched in the U.S. . h277U0P077S0QM-ILI,IT065&TG0vv @ endstream endobj 1417 0 obj <>stream Q: Can the state take my shares if I hold a certificate? computer-animated feature film. joint technical development effort with Disney that resulted in the Computer Assisted Production System (CAPS), a production system owned and used by Disney in some of its two-dimensional cel-based animated feature films. This could have an adverse impact on the commercial success required for us to Thus, post-production involves only final editing and scoring. h231T0P031R0QM-ILI,IT J&TG0vv endstream endobj 1350 0 obj <>stream In the past, following periods of volatility in the market price of a. companys securities, securities class action litigation has often been instituted against such a company.
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