So when exactly did the annual report take on its new modernized persona? A few years ago, I just kind of looked up one day—and BOOM! Gone were the days of the static print assemblage of a company's prior year balance sheets, operating and financial reviews, and cash flow statements that would subsequently take up valuable real estate in a storage closet or a file cabinet. For those of us who have held the (necessary, but often mundane) responsibility for producing annual reports, it has been a welcomed change.