FORM 20-F - Check Point

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CONSOLIDATED BALANCE SHEETS U.S. dollars in thousands (except share amounts) ASSETS CHECK POINT SOFTWARE TECHNOLOGIES LTD. AND ITS SUBSIDIARIES F- 6 December 31, 2008 2009 CURRENT ASSETS: Cash and cash equivalents $ 543,190 $ 414,085 Short-term deposit 26,302 - Marketable securities 344,895 469,913 Trade receivables (net of allowances for doubtful accounts and sales reserves of $ 9,125 and $ 19,335 as of December 31, 2008, and 2009, respectively) 251,771 283,668 Prepaid expenses and other current assets 28,372 34,544 Total current assets 1,194,530 1,202,210 LONG-TERM ASSETS: Marketable securities 529,445 963,001 Property and equipment, net 40,248 38,936 Severance pay fund 5,817 6,314 Deferred tax asset, net 19,003 16,307 Other intangible assets, net 123,151 114,192 Goodwill 664,602 708,458 Other assets 16,820 20,176 Total long-term assets 1,399,086 1,867,384 Total assets $ 2,593,616 $ 3,069,594 The accompanying notes are an integral part of the consolidated financial statements.
CONSOLIDATED BALANCE SHEETS U.S. dollars in thousands (except share amounts) LIABILITIES AND SHAREHOLDERS’ EQUITY CHECK POINT SOFTWARE TECHNOLOGIES LTD. AND ITS SUBSIDIARIES F-7 December 31, 2008 2009 CURRENT LIABILITIES: Trade payables $ 7,087 $ 8,860 Employee and payroll accruals 47,004 67,167 Deferred revenues 289,998 384,255 Accrued expenses and other liabilities 58,465 92,984 Total current liabilities 402,554 553,266 LONG-TERM LIABILITIES: Deferred revenues 40,799 41,005 Income tax accrual 101,230 132,908 Deferred tax liability 22,225 11,636 Accrued severance pay 10,943 11,061 175,197 196,610 Total liabilities 577,751 749,876 SHAREHOLDERS’ EQUITY: Share capital - Preferred shares, NIS 0.01 par value, 5,000,000 shares authorized, no shares issued - - Deferred shares, NIS 1 par value, 10 shares authorized, 1 share issued and outstanding - - Ordinary shares, NIS 0.01 par value, 500,000,000 shares authorized, 261,223,970 shares issued as of December 31, 2008 and 2009; 210,042,282 and 209,099,392 shares outstanding as of December 31, 2008 and 2009, respectively 774 774 Additional paid-in capital 503,408 527,874 Treasury shares at cost - 51,181,688 and 52,124,578 Ordinary shares as of December 31, 2008 and 2009, respectively (1,105,250) (1,199,752) Accumulated other comprehensive income (loss) (4,673) 12,555 Retained earnings 2,621,606 2,978,267 Total shareholders’ equity 2,015,865 2,319,718 Total liabilities and shareholders’ equity $ 2,593,616 $ 3,069,594 The accompanying notes are an integral part of the consolidated financial statements.
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SECURITIES AND EXCHANGE COMMISSION
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UTABLE OF CONTENTS PART I Item 1. I
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ITEM 1. IDENTITY OF DIRECTORS, SENI
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2005 2006 December 31, 2007 (in tho
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Our future operating results will d
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equires significant time and resour
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that we pay SofaWare NIS 13 million
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Compliance with new and changing co
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Our business and operations are sub
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Also, the volatility in the foreign
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Finally, another key trend affectin
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Our endpoint security offerings pro
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� Security and Network Traffic En
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Collaborative Enterprise Support (
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Check Point Software Technologies (
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Property, Plants and Equipment Our
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We derive our sales primarily throu
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Management makes estimates of fair
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Equity-based compensation expense W
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Results of operations The following
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Total revenues in 2008 grew by 11%
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General and Administrative General
Page 45 and 46: Quarterly Results of Operations The
Page 47 and 48: As a percentage of total revenues:
Page 49 and 50: Liquidity and Capital Resources Dur
Page 51 and 52: Off-Balance Sheet Arrangements We a
Page 53 and 54: Tal Payne has served as our Chief F
Page 55 and 56: Each non-employee director who is f
Page 57 and 58: Nominating committee. The nominatin
Page 59 and 60: Equity Incentive Plans The followin
Page 61 and 62: Trustee. A trustee designated by ou
Page 63 and 64: ITEM 7. MAJOR SHAREHOLDERS AND RELA
Page 65 and 66: eceived on December 27, 2007) and N
Page 67 and 68: Articles of Association and Israeli
Page 69 and 70: Election of directors. Our ordinary
Page 71 and 72: Approval of certain transactions; o
Page 73 and 74: o In a criminal action in which the
Page 75 and 76: (as shown in the table below). The
Page 77 and 78: converted into freely repatriable U
Page 79 and 80: income. A shareholder who does not
Page 81 and 82: The table below provides informatio
Page 83 and 84: PART II ITEM 13. DEFAULTS, DIVIDEND
Page 85 and 86: Our controller reviews all manageme
Page 87 and 88: ITEM 16F. CHANGE IN REGISTRANT’S
Page 89 and 90: ITEM 19. EXHIBITS 1 Articles of Ass
Page 91 and 92: CHECK POINT SOFTWARE TECHNOLOGIES L
Page 93 and 94: F- 3 Kost Forer Gabbay & Kasierer 3
Page 95: F- 5 Kost Forer Gabbay & Kasierer 3
Page 99 and 100: STATEMENTS OF CHANGES IN SHAREHOLDE
Page 141 and 142: [This Page Intentionally Left Blank
Page 143 and 144: Exhibit 12.1 I, Gil Shwed, certify
Page 145 and 146: Exhibit 13 CERTIFICATION PURSUANT T
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FORM 20-F - Check Point

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