Time Magazine 2009 Annual Report Download - page 122

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Information about the expected benefit payments for the Company’s defined benefit plans, including unfunded
plans previously noted, related to continuing operations is as follows (millions):
Domestic International
Expected benefit payments:
2010 .................................................... $ 150 $ 21
2011 .................................................... 146 23
2012 .................................................... 162 24
2013 .................................................... 167 27
2014 .................................................... 175 29
2015 — 2019 .............................................. 1,026 191
Defined Contribution Plans
Time Warner has certain domestic and international defined contribution plans, including savings and profit
sharing plans, for which the expense amounted to $103 million in 2009, $105 million in 2008 and $102 million in
2007. The Company’s contributions to the savings plans are primarily based on a percentage of the employees’
elected contributions and are subject to plan provisions.
Other Postretirement Benefit Plans
Time Warner also sponsors several unfunded domestic postretirement benefit plans covering certain retirees
and their dependents. A summary for substantially all of Time Warner’s domestic postretirement benefit plans is as
follows (millions):
2009 2008
December 31,
Benefit obligation, end of year ..................................... $ 156 $ 176
Fair value of plan assets, end of year ................................. — —
Funded status, amount recognized ................................... $ 156 $ 176
Amount recognized in accumulated other comprehensive income ............ $ (25) $ (7)
2009 2008 2007
December 31,
Net periodic benefit costs......................................... $13 $14 $14
12. RESTRUCTURING COSTS
Merger Costs Capitalized as a Cost of Acquisition
As of December 31, 2009, merger costs capitalized as a cost of acquisition was $23 million, with $4 million
having been paid during the year ended December 31, 2009. As of December 31, 2009, $6 million of the remaining
liability was classified as a current liability in the consolidated balance sheet, with the remaining $17 million
classified as a long-term liability. Amounts classified as long-term, primarily related to lease exit costs, are expected
to be paid through 2014.
110
TIME WARNER INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)