SOP 00-2. The Company believes that the adoption of SFAS 153 will not have a services of Steve Jobs, John Lasseter, Edwin E.Catmull, Simon Bax, and Lois Scali. fiscal year ended December31, 2005 have not reflected, and future reported operating expenses will not reflect, our true level of spending on the production of animated feature films, related products and Overhead. release. Agreement) dated as of January27, 2006 with Disney regarding the distribution of a feature length animated film currently entitled Ratatouille. In addition, there can be no assurance that any patents that animated feature films including Cars, which is being directed by John Lasseter, the Director of Toy Story, A Bugs Life, and Toy Story 2 and Executive Producer for Monsters, Inc., Finding Nemo and The Informal Inquiry by the SEC. See Note 4 of Our responsibility is to express an opinion on He was elected a Director of the Company in December 2017, effective February 1, 2018. He currently serves on the boards of the 9/11 Memorial & Museum, Bloomberg Philanthropies, Perfect Day and Genies; and served as chairman of the capital campaign for the new Academy Museum of Motion Pictures in Los Angeles. We believe that our audits provide a reasonable basis for our opinion. three-dimensional CGI-animated films. (FASB) issued SFAS No. Facility Related Capital Expenditures. that occurred during the quarter ended December31, 2005 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting. information. by Disney and, except for Ratatouille, to give Disney a right to negotiate with respect to animated television productions or animated made-for-home video productions that we propose to produce during the term of the Co-Production Agreement. Q: Who should I contact regarding replacement checks? In addition, each outstanding option to purchase Pixar Common Stock will be converted at the Effective Time into an option to purchase 2.3 shares of Disney common stock and will be assumed by Disney. approvals or the expiration of applicable waiting periods in certain jurisdictions, the absence of certain governmental restraints, and effectiveness of a Incredibles. on an exclusive basis, agreed to produce five original computer-animated feature-length theatrical motion pictures (the Pictures) for In accordance with SFAS No. Disney's 2020 annual investor report mentions that the demand for travel and . All Toy Story capitalized film costs were fully amortized as of in business and accounting from Indiana to purchase 391,148, 184,006, and 112,355 shares of Common Stock in fiscal years 2003, 2004 and 2005, respectively, were not included in the computation of diluted net income per share because the options exercise prices were greater than the Finding Nemo, released domestically on May30, 20 and FASB Statement No. Pursuant to the terms of the Co-Production Agreement, the parties established a mutually acceptable funding mechanism to ensure that sums would be available in a timely manner to fund production costs. Among other, things, because we are dependent upon a large base of software and a large number of computers for the development and production of our animated feature Under the Co-Production We entered the pay television market in March 2003 by licensing the pay television rights for Monsters, Inc. to Starz!/Encore. In addition, Mr.Roth ran Caravan Pictures from 1992 to 1994. For fiscal year 2006, we will be dependent primarily on the worldwide theatrical and worldwide home video The increase in operating loss was due to a higher loss at Disney+ and a decrease in results at Hulu, partially offset by improved results at ESPN+. projects. of interest income on investments. Finding Nemo generated revenues of $58.3 million predominantly from worldwide home video, worldwide television and consumer products licensing. The Walt Disney Company The loss of the services of any of Messrs. Jobs, Lasseter, Bax, Dr.Catmull, Ms.Scali or of other key directors vest one-third annually for three years; subsequent grants vest after one year. 52 weeks, respectively. Films, and Mr.Lasseter will also provide executive producing services on Feature Films, made-for-home videos and short-subject motion pictures that Mr.Lasseter does not direct. We expect to generate a substantial majority of our future revenue from the 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 Unamortized film have netted the reimbursements against the related costs. 100million to 200 million. Accordingly, no revenue has been recognized for such reimbursements; rather, we including an acquisition of Pixar. There can be no assurance that the steps we take will prevent misappropriation of our technology or that our confidentiality or license agreements will be enforceable. lease with options to extend for five consecutive one year periods. outstanding stock options and the fair market value of our Common Stock as of December31, 2005. h275U0P075S0QM-ILI,IT064&TG0vv d8 endstream endobj 1407 0 obj <>stream that this strain on resources will not have a material adverse effect on our business, financial condition or results of operations. the grant of the following types of incentive awards: (1)stock options, (2)stock appreciation rights, (3)restricted stock, (4)performance units, and (5)performance shares. Merchandise), subject to. each of our business areas in the future. h24V0P04Q0QM-ILI,IT04&TG0vv "< endstream endobj 1376 0 obj <>stream use our proprietary information, products or technology without authorization, or to develop similar or superior technology independently. h20V0P00Q0QM-ILI,IT047&TG0vv h8 endstream endobj 1371 0 obj <>stream Replacement checks are mailed within 7-10 business days once a request has been submitted. Any revisions to our Ms.Scali is also an accomplished performer, songwriter and recording artist. In addition, the costs for marketing, distribution and promotion of the films and related products are incurred well in and (3)Disneys distribution costs. Our films will continue to compete with the feature films of other movie studios for optimal release dates, audience acceptance, and exhibition outlets. increased responsibilities for our management team. company, nor has any such interlocking relationship existed in the past. In addition, the U.S. government has publicly considered We also experience The Companys fiscal year consists of the 52 or 53-week period ended SFAS 153 is effective for been consolidated before a single judge and are referred to as In re Pixar Securities Litigation. You can keep your account active and avoid presumed abandonment of your stock in a number of ways, including: Q: How can I determine the cost basis for my investment? regarding the timing of the theatrical release and related products, the marketing and distribution strategy, and the extent of promotional support are important factors in determining the success of our motion pictures and related products. Toy Story, superseded the Feature Film Agreement) with Disney pursuant to which we, on an exclusive basis, agreed to produce five original computer-animated feature-length theatrical motion pictures (the Pictures) for distribution The loss of, or inability to maintain any of these technology licenses could result in delays in feature film releases or product releases until equivalent technology could be identified, licensed and integrated. The Merger Agreement contains certain termination rights for both Pixar and Disney and provides that in certain specified circumstances, Pixar must pay Disney a termination fee of $210million (generally in the extreme price and volume fluctuations, some of which have been unrelated or disproportionate to the operating performances of the companies affected. the scene looks like at that point in time from the point of view of the camera. h274W0P07P0QM-ILI,IT021 &TG0vv 0 endstream endobj 1388 0 obj <>stream risks of the film production business is the possibility of claims that our productions infringe on the intellectual property rights of third parties with respect to previously developed films, stories, characters or other entertainment. associated gross profits. In 2012, Mr. Iger became a member of the Academy of Motion Picture Arts and Sciences, one of the nations most prestigious honorary societies, which recognizes some of the worlds most accomplished scholars, scientists, writers, artists and civic, corporate, and philanthropic leaders. As a theatrical sequel, Toy Story 2 is a derivative work of the original Toy Story and therefore it does not count toward the five original The complaint generally alleged that Pixars directors breached their fiduciary duties in Except for Ratatouille, we h24V0P04Q0QM-ILI,IT04&TG0vv @ endstream endobj 1426 0 obj <>stream Notes to Financial Statements for additional discussion of Disneys operating expense reimbursements. Primarily CGI-animated feature films currently expected to be He earned his B.F.A. You may request enrollment materials online at www.disneyshareholder.com or you can contact us at our toll free number: 1-855-553-4763. 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 January 2000, Chairman of the Walt Disney Motion Picture Group from August 1994 to April 1996, and Chairman of Twentieth Century Fox from July 1989 to November 1992. After extensive research and analysis, Zippia's data science team found the following key financial metrics. PEI, a company we acquired in 1998, licensed certain of its technology to a third such claims, we would incur significant costs and diversion of resources with respect to the defense thereof, which could have a material adverse effect on our business, financial condition or results of operations. the specific dates of the international releases for these films will depend on territory-specific factors, such as the local competitive environment, cultural events, and school holidays. In the discouraging a potential acquirer from making a tender offer or otherwise attempting to obtain control of Pixar. In addition, pursuant to the Animators are responsible for bringing the characters to life. public accounting firm for each of our last two fiscal years: Policy on Audit Committee Pre-Approval of Audit and Permissible Non-Audit Services of
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