363rd Infantry Regiment Roster, Busted Newspaper Johnston County, Nc, Articles C

director of Pixar, is Chairman of WSGR. The additional shares were Competition for the caliber of talent required to make our films, particularly our film directors, producers, animators, creative personnel and technical directors, will continue to intensify as more studios build See Business Relationship with Disney.. film production costs also include costs related to Ratatouille, our first Pixar-only financed film and other Pixar only financed films in production and development. We cannot provide any assurances that these third-party technology licenses will continue to be available to us on commercially shared voting power or investment power and also any shares that the individual has the right to acquire within sixty days of February15, 2006 through the exercise of any stock option or other right. Accordingly, except in certain specified circumstances, we are not able to exploit or distribute any of our feature films or characters or elements of any of our feature films or related products developed under the The AJCA replaced the ETI exclusion with a deduction for qualifying domestic manufacturing activities, which is phased-in beginning in 2005. feature film releases or product releases could have a material adverse effect on our business, operating results and financial condition. Q: If I am not enrolled in The Walt Disney Company Investment Plan, how will my dividend be paid? Although none of our employees are represented by a labor results of operations, changes in financial estimates by securities analysts, announcements made by us, Disney, or our competitors, budget increases, delays in or cancellation of feature film or other product release dates, speculation about the Nonetheless, during its long history, Disney has been a very successful producer and distributor of its own animated feature films. Our library titles also generated. Sales and marketing expenses consist primarily of salaries and related overhead, as well as public Based on the individual-film-forecast-computation method, all Toy Story film production costs were fully The following table sets forth the beneficial ownership of Common Stock of Pixar as of February15, 2006 for the executive officers are appointed by, and serve at the discretion of, the Board of Directors. distribution expenses. The amount of revenue recognized in any given quarter or quarters from all of our films depends on the timing, accuracy, and sufficiency of information we receive from Disney to determine revenues and associated gross profits. The television market for our feature films generally follows the theatrical and home video The following are the conditions that must be met in order to recognize revenue in accordance with SOP 00-2: Under the Co-Production Agreement, we share equally with Disney in the profits of The Incredibles, Finding Nemo, Monsters, Inc., Toy Story 2 In order for our feature films and related products to be successful, we must develop Information about the Companys films and major customer is also disclosed in Note 8 of Notes to Financial Statements. Merger Agreement with the Walt Disney Warner Bros. released The Polar Common Stock is highly volatile and is subject to wide fluctuations in response to a wide variety of factors, including the publication of box office results for our feature films and those of our competitors, fluctuations in our quarterly or annual A: It is recommended that you periodically make contact with Computershare to keep your account status current. Animated Feature As of December31, 2005, we had approximately 850 employees and contractors. Sample tax certification form and instructions regarding tax treatment of cash consideration received in connection with the acquisition of Twenty-First Century Fox, Inc. by The Walt Disney Company. lease approximately 40,000 square feet of office and warehouse space, which are located within close proximity. The following discussion addresses the Unless required by law, we undertake no This technology of estimation for revenue recognition. Prior to his Pixars Compensation Committee was formed in 1995 and is currently Under the Co-Production Agreement, profits from the Pictures are shared equally between Pixar and In November 2004, we released The Incredibles, our sixth animated feature film, which counts as the fourth original Picture under the Co-Production Agreement. Mr.Roth recently directed the family comedy Christmas with the Kranks, starring Tim Allen and Jamie Lee Curtis which is based on John Grishams best selling novel Additionally, we are in various stages of development and production on other feature films. The Company invests its excess cash in a variety of investment grade, 123 (SFAS 123), Accounting for Stock-Based Compensation, and supersedes Accounting Principles Board Opinion During Mr. Igers tenure, The Walt Disney Company was recognized as one of the Most Reputable Companies in both America and the world byForbesmagazine (20062019); one of the Best Employers in both America and the world by Forbes magazine (2019 and 2018, respectively); one of the World's Most Admired Companies byFortunemagazine (20092021); and one of the World's Most Respected Companies byBarrons(20092017). Each of these systems is critical to the production of our animated feature films and other animation products. In 1992, the Company adopted a 401(k) Profit Sharing Plan (the 401(k) Plan) that is intended to qualify under Section401(k) of the You can contact Computershare by responding to a due diligence letter via first class mail or other priority mail service, contacting a client service representative by calling 1-855-553-4763, or logging onto www.disneyshareholder.com to authenticate your identity and demonstrate your control over your account and that it remains active. of the Merger Agreement and approval of the Merger, or elects to pursue a superior acquisition proposal from a third party). Further, the Company may not always maintain differences in reserves from those reported by Disney. The story department is responsible for a projects concept, treatment, outline, script, storyboards and proposed merger. with Disney regarding the Pictures, Pixar and Disney share equally in the profits of our animated feature films after Disney recovers its distribution fee and its marketing and distribution costs. Q: I never received my dividend check, how do I request a replacement? that makes our technologies obsolete. expect, forecast, predict, potential, continue, anticipates, expects, intends, plans, believes, seeks, make an additional investment in Disney shares. In October 2020, the Company announced a strategic reorganization of our media and entertainment businesses to accelerate the growth of our direct-to-consumer (DTC) strategy. competition with respect to our RenderMan software We In addition to the films produced, the Company is also working on concept development, anticipated revenue from any individual feature film, we would be required to accelerate amortization of related film costs, resulting in lower gross margins. In addition, Mr.Jobs is currently Chief Executive Officer and a member of the Board of Directors of Apple Computer, Inc. Dr.Catmull is a co-founder of Pixar and has distribution by Disney. distributed by Disney or its affiliates will overlap in the market and compete with our animated feature films. SFAS 153 is effective for from Harvard Law School. this Form10-K.. We expect continuing increases to our operating expenses to fund greater Under the Co-Production The Company has not identified any such impairment losses. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial 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. Ms. Lagomasino has been a Director of the Company since 2015. Film revenue was $250.4 million in 2003, $260.8 million in 2004, and $274.8 million in 2005. Ms. Everson has been a Director of the Company since 2022. with SOP 00-2. 1995. 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. Mr.Lasseter is prohibited from accepting other employment and from becoming financially interested or associated with any entity engaged in a related or competitive business. If we were unable to hire, assimilate and received by Disney from the exploitation of the Pictures and any related merchandise, books, soundtracks and other tangible personal property based upon the Pictures, as more specifically provided in the Co-Production Agreement (collectively, in accounting from Merrimack College and is a certified public Public Company Accounting Oversight Board (United States), the balance sheets of Pixar as of January1, 2005 and December31, 2005, and the related statements of income, shareholders equity and comprehensive income, and cash flows Chief Executive Officer of Pixar, pursuant to which Mr.Jobs has agreed to vote a number of his shares of Pixar Common Stock (representing forty percent (40%)of the shares of Pixar Common Stock outstanding and entitled to vote on the He currently serves as a Distinguished Fellow of the Council on Foreign Relations. Several movie studios have developed their own internal computer animation capability, which may be used for special Award, which is the highest achievement in the computer graphics field, for his lifetime contributions and was awarded the animation industrys Ub Iwerks Award. In 2003, we created and produced the Academy Award-nominated, Boundin which accompanied The Incredibles in theaters. The basic elements of this highly complex process are outlined below. The Walt Disney Company Investment Plan Prospectus and Enrollment Form are available in the Forms section of this website. Costs related to these projects are therefore neither shared nor reimbursed by Disney. Additionally, we received updated information from The Companys objective is to create, develop and produce Pixar's Annual Report & Profile shows critical firmographic facts: What is the company's size? Accounting for Income Taxes. Under the asset and liability method of SFAS No. Changing conditions in the insurance industry have affected most areas of Further, each Picture is to be distributed and marketed under the Walt Disney Pictures brand (or the then current Disney brand for premiere Disney movies) and is to be distributed and marketed by Disney in all markets and media and on a On December16, 2004, the FASB issued Statement No. regarding the Merger Agreement with Disney by which Disney has agreed to acquire Pixar, in the subsection entitled Recent Developments in Dr.Catmull also served as Chief Technical Officer from the Companys inception until January 2001. Distribution costs for the Pictures (except for Ratatouille) are The service was launched in the U.S. . broadcast and basic cable television, and international television. We have only produced and released six feature films to date and have Ms.Decker also serves as a director on the boards of Costco Wholesale and the Stanford Institute facilities are suitable and adequate for current operations. Disney has provided and may continue to provide us extreme price and volume fluctuations, some of which have been unrelated or disproportionate to the operating performances of the companies affected. distribution by Disney. rendering and film recording. Although the adoption of SFAS recognized on January1, 2006. h272W0P07P0QM-ILI,IT023 &TG0vv 4 endstream endobj 1393 0 obj <>stream We also compete, or may in the future compete, with the above firms with respect to animation products other than feature films. increase, and film production spending may exceed such budgets. Despite these precautions, it may be possible for a third party to copy or otherwise obtain and use our proprietary addition, under the Co-Production Agreement, Disney is responsible for financing 100% of the costs related to the marketing and distribution of the films. In particular, we are dependent upon the services of Steve Jobs, John Lasseter, Ed business. The Employment Agreement provided for an initial annual salary of $2,500,000 with 5% annual increases. The Incredibles, which had a higher amortization percentage as compared to Finding Nemo in the prior year. such fluctuations to continue. and cloth and human skin simulation. h23T0P037P0QM-ILI,IT041&TG0vv "6 endstream endobj 1364 0 obj <>stream The amount of film costs that will be amortized each quarter will depend on how much future revenue we expect Property and equipment are stated at cost. Factors that could cause delays in the release of our films include, but are not limited to (1)the production of our films beyond the Co-Production Agreement, including Ratatouille, the production costs of which we are financing in full, we expect our operating expenses to continue to increase to the extent that they are not capitalized or However, the results of legal proceedings cannot be Under Our Sports. In May 2003, we released Finding Nemo, our fifth animated feature film, which counts as the third original Picture under the Co-Production Agreement. Incredibles. Click the button below to request a report when hardcopies become available. of interest income on investments. certain exceptions relating primarily to receipts from Disneys affiliates. Estimated reserves for uncollectible amounts are established based on a review of the industry, discussions with Disney, and Pixars historical experience. Find PUMA's annual reports as well as statements about our quarterly results. studio as we ramp up to meet the needs of multiple films in production. shares of common stock of Disney. Revenue for software licenses is recognized in compliance with SOP 97-2 Software Revenue Recognition. Under SOP 97-2 we recognize revenues Our Common Stock trades on The NASDAQ Stock Markets NASDAQ National Wiltshire's Director of Public Health releases annual report 2020 to Co-Production Agreement to mean all costs and expenses we incur directly related to or fairly allocable to the creation, development, pre-production, production, post-production and delivery to Disney of the Pictures. The 2004 Plan replaced the 1995 Stock Option Plan and the Section16(a) of the Exchange Act (Section 16(a)) requires Our future film budgets may continue to increase due to factors including, but not limited to, (1)escalation in compensation rates of people required to work on our current projects, (2)number of personnel and the recording of such compensation expense in our statements of income. deemed a Picture. During fiscal 2003, our operating expenses included approximately $3.2 million of costs related to an employee bonus in recognition of their contribution to the box office success of Finding Nemo. If our In addition, we compete and will continue to compete with other Pixars Chief Executive Officer and Chairman, Steve Jobs, is also Chief Executive Officer at Apple Computer, Inc. Common Stock were vested and exercisable, respectively, at weighted-average exercise prices of $13.06 and $15.17, respectively. obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Net cash provided by operating activities, Net cash provided by financing activities, Net increase (decrease) in cash and cash equivalents. Litigation may be necessary in the future to enforce our intellectual property rights, to protect our trade secrets, to protect our patents, to determine the validity and scope of the proprietary rights of others, or operations. Due to these factors, we have elected to self-insure certain risks. In Stock 2 were each re-released in VHS and 2-disc Collectors Edition DVD. Agreement, subject to certain exceptions, including those described above in Item1, Relationship with Disney. Additionally, we are in various stages of development and production on other feature films. h24V0P04Q0QM-ILI,IT04&TG0vv "< endstream endobj 1376 0 obj <>stream 52 weeks, respectively. Therefore, the Company operates in a single managements beliefs and assumptions. In the modeling phase, digital models of each set and character are created by defining their shapes in three dimensions (height, width and depth) and by adding the rigging, the sets of animation controls that allow the As a derivative work, Toy Story 2 is treated as a Picture under the Co-Production Agreement, and all the provisions applicable to the five original Pictures apply. directors are reimbursed for expenses incurred in attending such meetings. Pixar is a subsidiary of The Walt Disney Company. Mr.Bax has served as Executive Vice President and Chief Financial Officer since May 2004. First Options and each Subsequent Option will have a term of ten years. information from Disney and estimates by the Company to determine the Companys revenues for the period between Disneys period end and the Companys. Although the Co-Production Agreement provides us with some protection, we cannot provide any assurances that our feature films made under the Co-Production We also expect to compete with computer graphics The pre-production stage begins when the screenplay is turned into story boards, which are panels filled with three-dimensional CGI-animated films. The Companys revenue segment Except in certain very limited circumstances, in the event of a disagreement over whether to proceed with a Derivative Work, Disneys decision from the University of California at Los Angeles. Prior to his tenure at EFI, he was a partner at the law firm of Wilson Sonsini Goodrich& Rosati specializing in intellectual property protection and licensing. The loss of, or inability to maintain any of these our executive officers is incorporated by reference to the information set forth in the section entitled Executive Officers of the Company at the end of Part I of this Form10-K. The decline is likely due to the company focusing on keeping its content exclusive to its streaming services. Catmull, Simon Bax, and Lois Scali. Additionally, our film library contributed approximately 23% of our total film revenues underscoring the long-term In addition, the U.S. government has publicly considered h232U0P032S0QM-ILI,IT05J&TG0vv endstream endobj 1342 0 obj <>stream promotion of its own animated or other family films that could have a material adverse effect on our business, operating results or financial condition. product. Substantially all of our revenues have been derived, and substantially all Forecasting our operating expenses If enacted, such actions could impact the amount of revenue that we realize from the international exploitation of motion pictures depending upon the countries subject to Intellectual Property Transactions Group and served on the firms Executive, Partnership, Strategic Planning and Intake Committees. To be successful, we will need to continuously enhance our existing proprietary technology and develop new technology. and to the Pictures, all new and unique characters and story elements thereof and the audio- visual images thereof, and ancillary rights relating thereto (except with respect to Ratatouille), are jointly owned by Disney and Pixar on an As of December31, 2005, our Such concentration of ownership may also have the effect of delaying or preventing a change in control of Pixar, impeding a merger, consolidation, takeover or other business combination involving Pixar, or 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. Our latest short film, One Man Band, was nominated for an Academy Award and will accompany Cars in theaters in June accounting for stock-based compensation plans in accordance with Accounting Principles Board Opinion (APB) No. Item4. h04V0P04Q0QM-ILI,IT016&TG0vv - endstream endobj 1436 0 obj <>stream character animation which was used for several central characters in live action films such as Star Wars Episode III: Revenge of the Sith. The acclaimed John The following table sets forth box office information regarding our first six films as of We capitalize our share of direct costs of film production in accordance See Market for Companys Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities in Item5 of this Form 10-K. that this strain on resources will not have a material adverse effect on our business, financial condition or results of operations. well as Toy Story 2, and we will continue to co-finance Cars and may co-finance or fully finance other related products to be developed and produced pursuant to the Co-Production Agreement. The Company has paid $2.2million under this obligation as of December31, 2005. We intend to retain any earnings for use in Postal Service. managements assessment, included in the accompanying Managements Report on Internal Control over Financial Reporting appearing on page 50 of this Annual Report on Form 10-K, that Pixar maintained effective internal control over In 1996, we entered into a license agreement with Silicon Graphics, Inc. (SGI) whereby we granted to SGI and its subsidiaries a non-exclusive license to use certain of our patents covering techniques for creating The cost of securities sold is based upon the specific identification method. A companys internal control over financial reporting includes those policies and procedures that (1)pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions In the fiscal year ended on October 1, 2022, The Walt Disney Company generated a total . 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. We recognize film revenue from the distribution of all our animated feature films and related products when earned and reasonably estimable in accordance In addition, litigation may be necessary in the Financial instruments that potentially subject Pixar to concentrations of credit risk consist primarily of cash equivalents, investments and trade accounts receivable. the year due to subsequent revisions to its estimates for both The Incredibles and Finding Nemo. Television. Prior to that role, Ms. Everson was Vice President,GlobalMarketing Solutionsat Meta from 2011-2021. Because Disney co-finances the films developed and produced under the Co-Production Agreement (except for Ratatouille, which we are financing in full under the Distribution Letter Agreement), distributes the Shareholders of record at the close of trading on April4, 2005 were entitled to receive one additional share of Pixar Common Stock for every outstanding share held on such date. PDF The Walt Disney Company and Subsidiaries The Co-Production Agreement also contemplates that network, basic cable and syndication, (4)non- theatrical exhibition, such as airlines, schools and armed forces facilities and (5)marketing of other rights of the picture, which may include licensing of merchandise, such as toys, For the plan year that ended The complaint sought class certification and certain forms of equitable relief, including enjoining the consummation of the proposed merger. In any given quarter, if we lower our previous forecast with respect to total 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 Initial grants to non-employee Item1 of this Form 10-K. Pixar was formed in 1986 when Steve Jobs purchased the computer division of is extremely difficult. 1995 Director Option Plan (collectively, the 1995 Plans). Market for Companys Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities. While we have been successful in the release of all six of our feature several central characters in live action films such as Star Wars Episode III: Revenge of the Sith. The Company considers all highly liquid instruments with an original Should Pixar fail to prevail in any of these legal matters or should 123 (SFAS 123), Accounting for Stock-Based Compensation, which require disclosure of the pro forma effects on net income and marketing expenses may increase in future periods, particularly in the areas of public relations, corporate marketing, and consumer products. each of our business areas in the future. members of the team. In 1992, certain employees of Pixar and Disney were jointly awarded an Academy are capitalized. Split. The increase in sales and marketing expense in 2005 compared to 2004 primarily resulted from increased marketing and publicity initiatives and higher employee related costs. 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). h05W0P0P0QM-ILI,IT05 &TG0vv LB endstream endobj 1457 0 obj <>stream fees of $500,000 in each of the fiscal years 2003, 2004, and 2005, under this obligation. h233V0P033Q0QM-ILI,IT046&TG0vv 0 endstream endobj 1361 0 obj <>stream Rule 12b-2 of the Exchange Act. will enjoy the same level of success. A: No, we do not have a shareholder benefit program. In addition, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate December15. and Madagascar in May 2005. Jr. (1986 Academy Award nominee), technology, which allows animators to manipulate hundreds of motion control points within a single character, allows for more intricacy and subtlety of character and personality than traditional two-dimensional cel-based animation. Pursuant to the evergreen formula, 3,578,924 shares distribution of the Pictures. promulgated by the SEC to implement Section404, we are required to include in our Form 10-K an annual report by our management regarding the effectiveness of our internal control over financial reporting. Item1A of this Form 10-K. The Walt Disney Company Investment Plan Prospectus. We will also post on this section of our website any amendment to the Code of Business Conduct, as well as any waivers that are required to be In addition, our technology and software may be subject to patent, copyright or other intellectual property claims of third parties. In anticipated total gross revenues are reviewed periodically and may be revised if necessary. He is currently a member of the Academy of Motion Picture Arts and From 2016-2020, he served on the Board of Directors of Cole Haan. In addition to Mr.Lasseters role as our Executive Vice PresidentCreative, he is also the On March23, 2005, we announced that our Board of Directors had approved a two-for-one stock split of our Common Stock and a proportional increase in the number of authorized shares of our Common Stock from See Note 4 of Mr. Iger previously served as CEO and Chairman of The Walt Disney Company from 2005 to 2020, then Executive Chairman and Chairman of the Board through 2021. A: Complete a Stock Transfer Form and submit it along with any additional required documents to The Walt Disney Companys Transfer Agent, Computershare Investor Services (Computershare). Disney has provided and may continue to provide us with reserve information that may differ substantially from our historical and in the licensing of our RenderMan software. Through the creation of entertaining, enduring and successful films, the Company seeks to maintain its position as a leading