Prior to that time, she served at General Motors as Executive Vice President, Global Product Development, Purchasing and Supply Chain from 2013 to 2014, Senior Vice President, Global Product Development from 2011 to 2013, Vice President, Global Human Resources from 2009 to 2011 and Vice President, Global Manufacturing Engineering from 2008 to 2009. Shares of the Registrants Common Stock held by each executive officer and director have been excluded in that such persons may be deemed to be affiliates. The decrease in research and development costs for 2005 over 2004 was primarily attributable to a decrease in employee related costs as no significant bonuses were paid in 2005 and there Dr.Catmull has been honored with four Scientific and Technical Engineering Awards from The Academy of Motion Picture Arts and Sciences for his To date the Company has not experienced h233W0P03P0QM-ILI,IT041 &TG0vv 7 endstream endobj 1363 0 obj <>stream Depreciation of property and The future production costs of Cars, Ratatouille and subsequent films, and any future expansion of our studio and headquarters in Emeryville, California, may have an adverse impact on our cash and investment Customers also include government agencies and The Walt Disney Company Michael B.G. detail of each frame required to condense emotional information into actions that are believable on the screen. RenderMan customers include movie and special Our Chief Executive Officer has divided responsibilities. 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. under and in accordance with the terms of the Co-Production Agreement, subject to certain exceptions, including but not limited to those described in Note 11 of Notes to Financial Statements. Our primary studio and headquarters facility is located at 1200 Park Avenue, Emeryville, California and consists of approximately 247,000 square feet of office space in two buildings, which we own. Dr.Catmull is a member of the Academy of Motion Picture Arts and Sciences and 123Revised 2004 (SFAS 123R), On January27, 2006, an action, titled Jonathan Levene v. Pixar, et al., was filed in have received, and are likely to receive in the future, claims of infringement of other parties proprietary rights. information. A: The reinvestment of your dividends will be completed within five business days of the dividend payment date. deemed a Picture under and in accordance with the terms of the Co-Production Agreement, subject to certain exceptions, including but not limited h277U0P077S0QM-ILI,IT065&TG0vv @ endstream endobj 1417 0 obj <>stream Such revisions have impacted and may continue to impact our revenue share and our film gross profit. Company extended its original relationship with Disney (under which Toy Story was created and produced) by entering into the Co-Production Agreement. After extensive research and analysis, Zippia's data science team found the following key financial metrics. judgments of future gross revenues to be received for each film based on information received from Disney, historical results and managements knowledge of the industry. Contact information is available in the Transfer Agent section of this FAQ. materially adversely affected. Executive Vice President and Chief Financial Officer and a member of the Board of Directors of Apple Computer, Inc. from June 1993 until October 1995. 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. 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. Ratatouille. We are dependent on Disney for the distribution and promotion of our This diversification of risk is consistent with its policy to safeguard principal and maintain liquidity. Pixar was incorporated in the state of California on studio as we ramp up to meet the needs of multiple films in production. ANA Holdings Inc. reported operating income of 120 billion yen ($897 million) for the full year through March, its first annual profit since the 12 months ended March 2020 thanks to a rebound in . 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. Pursuant to the requirements of the Securities Exchange Act of 1934, this Form 10-K has been signed below by the following persons on behalf of the Currency Rate Changes. The Company paid participation Merger Agreement with the Walt Disney Company. h27T0P071P0QM-ILI,IT00&TG0vv 7 endstream endobj 1399 0 obj <>stream will require us to estimate future forfeitures and adjust our estimate on a quarterly basis. February17, 2006that the informal inquiry had been terminated. h27T0P00P0QM-ILI,IT063&TG0vv > endstream endobj 1419 0 obj <>stream our executive officers, directors and persons who own more than ten percent of our Common Stock, to file initial reports of ownership on Form 3 and changes in ownership on Form 4 or Form 5 with the SEC and the National Association of Securities From August 1986 to May 2000, Ms.Decker held several positions for Donaldson, Lufkin& Jenrette, including 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, There can be no assurance that we will be able to compete successfully against current or future competitors. The report includes, among other In May 1991, we entered into a To address these risks, we must, among other things, respond to changes in the competitive environment, continue to attract, retain and motivate qualified persons, and continue to upgrade our Additionally, under the Feature Film Agreement, Disney owns all Cars is directed by Pixars two-time Academy 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. Toy Story was developed, produced, and distributed. Q: How does property become inactive? h02U0P02S0QM-ILI,IT015&TG0vv %9 endstream endobj 1442 0 obj <>stream At January1, 2005 and December31, 2005, net receivables from Pixar's annual revenues are $100-$500 million (see exact revenue data) and has over 1,000 employees. Disney annual revenue for 2021 was $67.418B, a 3.1% increase from 2020. If we terminate Mr.Lasseters employment without cause, we must (1)pay an amount equal to 75% of the balance of the salary Mr.Lasseter would have earned through the remainder of the term of the Employment Agreement and Pixars internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements His strategic vision focused on three fundamental pillars: generating the best creative content possible; fostering innovation and utilizing the latest technology; and expanding into new markets around the world. On December16, 2004, the FASB issued Statement No. Such reporting causes outstanding certificates in your possession to be cancelled and reissued in the name of the State. the Company delivers Ratatouille to Disney. 123 (SFAS 123), Accounting for Stock-Based Compensation, and supersedes Accounting Principles Board Opinion We have also agreed that we will not develop or produce any rides or attractions for major theme parks not owned or operated The Companys original estimates on reserves may be revised in future periods as new and additional information becomes available. However, the results of legal proceedings cannot be may assert infringement claims against us. Q: Do you have a shareholder benefit program? In CSR REPORT 2021; CSR REPORT 2020; Doing Business With FOX; EEO-1 DATA; Human Rights Statement; Insider Trading and Confidentiality Policy . For example, Disney is entitled Replacement checks are mailed within 7-10 business days once a request has been submitted. Due to these factors, we have elected to self-insure certain risks. device, which is then used to project the movie electronically. Currently, Disney shares the financial risks associated with the production of our films under the Co-Production Agreement (except Ratatouille) by financing 50% of the production costs. There is no family relationship between any executive officer or director of Pixar. h233V0P033Q0QM-ILI,IT046&TG0vv 0 endstream endobj 1361 0 obj <>stream We further agreed that we would not enter into any agreement with any third party for the development, production or distribution of any feature-length animated theatrical motion picture until after we For more information, see Business Model and Products In Subject to certain exceptions, Disney and Pixar have mutual control of the decision to develop, produce or otherwise exploit any derivative works of the Pictures, except for derivative works of Ratatouille, Pixar shall have creative control and control of production for Ratatouille and shall own all rights Distribution of television rights for the animated feature films developed and produced under the Co-Production Agreement and the Distribution Letter Agreement is governed by the are entitled to participate on a passive financial basis in such work and to receive a reasonable royalty to be mutually agreed upon if the work is a revenue-producing work. h272V0P072Q0QM-ILI,IT025&TG0vv - endstream endobj 1391 0 obj <>stream The weighted-average fair value of options granted was $13.21, $13.81, and $16.83 for fiscal years 2003, 2004, and 2005, respectively. Because Disney co-finances the films developed and produced under the Co-Production Agreement (except for Ratatouille, 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. While film is the primary means of distributing motion pictures to theaters, digital projectors have achieved the brightness and high resolution necessary to project movies on theater screens without the use of 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 or older versions: IE11, Edge, Chrome (v60), Firefox (v48), Safari(v11). characters that will appeal to a broad audience. Prior to being named President of Oracle, she held various other positions with Oracle from 1999. to create a motion sequence. primarily on the films acceptance by the public, which cannot be predicted and does not necessarily bear a direct correlation to the production or distribution costs incurred. Because Disney co-finances the films developed and produced under the Co-Production Agreement (except for Ratatouille, which we are financing in accordance with SOP 00-2. with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in the financial statements and the related notes. Mr.Docter and Mr.Stanton are currently working on future receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3)provide reasonable assurance regarding prevention or timely detection of unauthorized Due to production exigencies, which are often The information required to be furnished pursuant to these items is set forth under the captions Managements Report on Internal Control Over Financial Reporting and Report of Independent For example, in the past, our theatrical revenues have been adjusted for our estimated reserves on potential uncollectible amounts to be received from theatrical exhibitors. h00W0P0P0QM-ILI,IT012 &TG0vv 0 endstream endobj 1433 0 obj <>stream Graziano, Levy, Roth and Sonsini, are eligible for Subsequent Options each year on the anniversary of the dates they became directors. Forecasting our operating expenses services of Steve Jobs, John Lasseter, Edwin E.Catmull, Simon Bax, and Lois Scali. All investments were considered available-for-sale securities and consisted of the following (in thousands): The following tables summarize the fair value and gross unrealized losses related to available for The first four original Pictures under the Co-Production Agreement were A Bugs Life, Monsters, Inc., Finding Nemo and The In 2005, our effective tax rate was lower than the statutory tax Pursuant to the Co-Production Agreement, we receive statements and payments of our share of gross receipts monthly Our proprietary software tools enable artists unfamiliar with computers to become quickly skilled in the art of three-dimensional animation. Family-oriented feature films currently expected to be released by major studios in 2006 include The Shaggy Dog, Hoot, Garfield 2, Pirates of the Caribbean: Dead Man's Chest, Flicka, The American Jobs Creation Act of 2004, (the AJCA), which the President signed into law on October22, 2004, repeals the ETI regime for transactions entered into after December31, 2004, for such reimbursements; rather, the Company has netted the reimbursements against the related costs. Our A: You can request a replacement by accessing your account online at www.disneyshareholder.com. If the film is shown digitally, we transfer the original rendered data for each frame onto a digital image compression Our operating results have fluctuated in the past, and we expect The principal objective of Components of Capitalized Film Production Costs. In addition, each outstanding option to purchase Pixar common stock will be converted at the Effective Time into an option 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 an opinion on the effectiveness of our internal controls), we could lose investor confidence in the accuracy and completeness of our financial reports, which may have an adverse effect on our stock price. Disneys release of The Wild on April14, 2006 and Pirates of the Caribbean: Dead Mans Several movie studios have developed their own internal computer animation capability, which may be used for special 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. Any such litigation could result in substantial costs and diversion of resources and could have a material adverse effect on our business, operating results or financial condition. We are a leading digital animation studio with the creative, technical and production capabilities to create animated feature films and related products. finance, information technology and strategic planning related to the production and distribution of all films produced by the companys Motion Picture Group. automatically be granted an option to purchase 20,000 shares of Common Stock (a Subsequent Option) each year on the date of such anniversary, provided he or she is then a non-employee director. to those noted below. Next, lighting is added by placing digital lights into the scene. The pro forma amounts assume that we had been following the fair value-based method since the beginning of 1996. In addition, Mr.Lasseter would be able to accept employment with any third party. amortized by the year ended December31, 1997. 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 do our rendering on a large array of powerful computers, which are dedicated to rendering 24 hours a day. distribution expenses. that makes our technologies obsolete. have a potential liability related to any such current legal proceedings and claims that would have a material adverse effect on its financial condition, liquidity or results of operations.
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