Time Magazine 2010 Annual Report Download - page 66
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TIME WARNER INC.
CONSOLIDATED BALANCE SHEET
(millions, except per share amounts)
December 31,
2010
December 31,
2009
ASSETS
Current assets
Cash and equivalents ............................................. $ 3,663 $ 4,733
Receivables, less allowances of $2,161 and $2,247 ....................... 6,413 5,070
Securitized receivables ............................................ — 805
Inventories ..................................................... 1,920 1,769
Deferred income taxes ............................................ 581 670
Prepaid expenses and other current assets .............................. 561 645
Total current assets ............................................... 13,138 13,692
Noncurrent inventories and film costs ................................. 5,985 5,754
Investments, including available-for-sale securities ........................ 1,796 1,542
Property, plant and equipment, net ................................... 3,874 3,922
Intangible assets subject to amortization, net ............................ 2,492 2,676
Intangible assets not subject to amortization ............................ 7,827 7,734
Goodwill ...................................................... 29,994 29,639
Other assets .................................................... 1,418 1,100
Total assets..................................................... $ 66,524 $ 66,059
LIABILITIES AND EQUITY
Current liabilities
Accounts payable and accrued liabilities ............................... $ 7,733 $ 7,807
Deferred revenue ................................................ 884 781
Debt due within one year .......................................... 26 57
Non-recourse debt ............................................... — 805
Current liabilities of discontinued operations ............................ — 23
Total current liabilities ............................................ 8,643 9,473
Long-term debt.................................................. 16,523 15,346
Deferred income taxes ............................................ 1,950 1,607
Deferred revenue ................................................ 296 269
Other noncurrent liabilities ......................................... 6,167 5,967
Commitments and Contingencies (Note 16)
Equity
Common stock, $0.01 par value, 1.641 billion and 1.634 billion shares issued and
1.099 billion and 1.157 billion shares outstanding ...................... 16 16
Paid-in-capital .................................................. 157,146 158,129
Treasury stock, at cost (542 million and 477 million shares) . . . ............. (29,033) (27,034)
Accumulated other comprehensive loss, net ............................. (632) (580)
Accumulated deficit .............................................. (94,557) (97,135)
Total Time Warner Inc. shareholders’ equity ............................ 32,940 33,396
Noncontrolling interests ........................................... 5 1
Total equity .................................................... 32,945 33,397
Total liabilities and equity .......................................... $ 66,524 $ 66,059
See accompanying notes.
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