Time Magazine 2010 Annual Report Download - page 124

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TIME WARNER INC.
SELECTED FINANCIAL INFORMATION
The selected financial information set forth below for each of the three years in the period ended December 31,
2010 has been derived from and should be read in conjunction with the audited financial statements and other
financial information presented elsewhere herein. The selected financial information set forth below for the years
ended December 31, 2007 and December 31, 2006 has been derived from audited financial statements not included
herein. Capitalized terms are as defined and described in the consolidated financial statements or elsewhere herein.
Certain reclassifications have been made to conform to the 2010 presentation.
2010 2009
(a)
2008
(b)
2007
(b)
2006
(b)
Years Ended December 31,
(millions, except per share amounts)
Selected Operating Statement Information:
Total revenues. . ........................... $26,888 $ 25,388 $ 26,434 $ 26,211 $ 24,886
Operating income (loss). ..................... 5,428 4,470 (3,044) 4,167 3,229
Net income (loss) .......................... 2,571 2,512 (14,649) 4,627 6,786
Amounts attributable to Time Warner Inc.
shareholders:
Income (loss) from continuing operations . . ..... $ 2,578 $ 2,088 $ (5,090) $ 1,889 $ 2,718
Discontinued operations, net of tax . . .......... — 389 (8,308) 2,498 3,809
Cumulative effect of accounting change . . . ..... — — — — 25
Net income (loss) . . . ..................... $ 2,578 $ 2,477 $(13,398) $ 4,387 $ 6,552
Per share information attributable to Time
Warner Inc. common shareholders:
Basic income (loss) per common share from
continuing operations .................... $ 2.27 $ 1.76 $ (4.27) $ 1.52 $ 1.95
Discontinued operations .................... — 0.32 (6.95) 2.02 2.73
Cumulative effect of accounting change . . . ..... — — — — 0.02
Basic net income (loss) per common share . ..... $ 2.27 $ 2.08 $ (11.22) $ 3.54 $ 4.70
Diluted income (loss) per common share from
continuing operations .................... $ 2.25 $ 1.75 $ (4.27) $ 1.51 $ 1.93
Discontinued operations .................... — 0.32 (6.95) 1.99 2.70
Cumulative effect of accounting change . . . ..... — — — — 0.02
Diluted net income (loss) per common share .... $ 2.25 $ 2.07 $ (11.22) $ 3.50 $ 4.65
Average common shares:
Basic . ................................ 1,128.4 1,184.0 1,194.2 1,239.6 1,394.2
Diluted ................................ 1,145.3 1,195.1 1,194.2 1,254.0 1,408.3
Selected Balance Sheet Information:
Cash and equivalents . . . ..................... $ 3,663 $ 4,733 $ 1,082 $ 1,133 $ 1,087
Total assets ............................... 66,524 66,059 114,477 134,825 133,716
Debt due within one year..................... 26 57 2,041 51 24
Non-recourse debt .......................... — 805 805 1,036 924
Long-term debt . ........................... 16,523 15,346 19,855 23,402 20,400
Time Warner Inc. shareholders’ equity . .......... 32,940 33,396 42,292 58,536 60,389
Total capitalization at book value ............... 49,489 49,604 64,993 83,025 81,737
Cash dividends declared per share of common
stock . ................................ 0.850 0.750 0.750 0.705 0.630
(a)
2008 includes a $7.139 billion noncash impairment to reduce the carrying value of goodwill and intangible assets at the Publishing segment.
(b)
Total assets, Time Warner Inc. shareholder’s equity and Total capitalization at book value for 2008, 2007 and 2006 include amounts related
to discontinued operations, primarily related to TWC Inc and AOL Inc.
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