Activision Blizzard's total expenses have grown from $3.8 billion in 2015 to about $5.7 billion in 2018.
For 2020, we expect total expenses to be around $5.8 billion, which comprises of
1) COGS: $2.2 Billion
2) Operating Expenses: $2.9 billion
3) Non-Operating Expense: $0.1 billion
4) Income Taxes: $0.6 billion
Below, we take a look at how the company's key expense components have trended and the key reasons for the change.