Time Magazine 2009 Annual Report Download - page 140

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Accounts Receivable and Receivables Securitized
Accounts receivable and receivables securitized consist of (millions):
December 31,
2009
December 31,
2008
(recast)
Securitized trade receivables .................................. $ 2,095 $ 1,984
Receivables sold to third parties ............................... (805) (805)
Retained interests in securitizations ............................. 1,290 1,179
Receivables not subject to securitizations ........................ 6,074 6,221
Receivables, including retained interest in securitizations ............. 7,364 7,400
Allowances .............................................. (2,253) (2,229)
Current receivables, including retained interests in securitizations, net . . . 5,111 5,171
Noncurrent receivables (included in other assets) ................... 851 983
Total receivables .......................................... $ 5,962 $ 6,154
Revenues (and related receivables) from the distribution of television product are recognized when the film or
series is made available to customers for exploitation. In certain circumstances, the availability dates granted to the
customers may precede the date the Company, pursuant to the terms of the applicable contractual arrangements,
may bill the customers for these sales. Unbilled accounts receivable, which primarily relate to the aforementioned
distribution of television product, totaled $2.105 billion and $2.283 billion at December 31, 2009 and December 31,
2008, respectively. Included in the unbilled accounts receivable at December 31, 2009 was $1.455 billion to be
billed in the next twelve months.
128
TIME WARNER INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)