Time Magazine 2010 Annual Report Download - page 69

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TIME WARNER INC.
CONSOLIDATED STATEMENT OF EQUITY
(millions)
Common
Stock
Paid-In
Capital
Treasury
Stock
Retained
Earnings
(Accumulated
Deficit) Total
Noncontrolling
Interests
Total
Equity
Time Warner Shareholders’
BALANCE AT DECEMBER 31, 2007 .......... $16 $170,263 $(25,526) $ (86,217) $ 58,536 $ 4,322 $ 62,858
Net loss ................................ — — — (13,398) (13,398) (1,251) (14,649)
Foreign currency translation adjustments .......... — — — (956) (956) (5) (961)
Change in unrealized gain on securities ........... — — — (18) (18) — (18)
Change in unfunded benefit obligation ........... — — — (780) (780) (46) (826)
Change in realized and unrealized losses on derivative
financial instruments ...................... — — — (71) (71) — (71)
Comprehensive loss ........................ — — — (15,223) (15,223) (1,302) (16,525)
Cash dividends . . ......................... — (901) — — (901) — (901)
Common stock repurchases ................... — — (299) — (299) — (299)
Impact of adopting new accounting
pronouncements
(a)
....................... — — — (13) (13) — (13)
Noncontrolling interests of acquired businesses ..... — — — — — 15 15
Amounts related primarily to stock options and
restricted stock
(b)
........................ — 202 (11) 1 192 — 192
BALANCE AT DECEMBER 31, 2008 .......... $16 $169,564 $(25,836) $(101,452) $ 42,292 $ 3,035 $ 45,327
Net income ............................. — — — 2,477 2,477 35 2,512
Foreign currency translation adjustments .......... — — — 221 221 1 222
Change in unrealized gain on securities ........... — — — (12) (12) — (12)
Change in unfunded benefit obligation ........... — — — 183 183 — 183
Change in realized and unrealized losses on derivative
financial instruments ...................... — — — 35 35 — 35
Comprehensive income...................... — — — 2,904 2,904 36 2,940
Cash dividends . . ......................... — (897) — — (897) — (897)
Common stock repurchases ................... — — (1,198) — (1,198) — (1,198)
Time Warner Cable Inc. Special Dividend ......... — — — — — (1,603) (1,603)
Time Warner Cable Inc. Spin-off ............... — (7,213) — 391 (6,822) (1,167) (7,989)
AOL Spin-off . . . ......................... — (3,480) — 278 (3,202) — (3,202)
Repurchase of Google’s interest in AOL .......... — (155) — 164 9 (292) (283)
Noncontrolling interests of acquired businesses ..... — — — — — (8) (8)
Amounts related primarily to stock options and
restricted stock
(b)
........................ — 310 — — 310 — 310
BALANCE AT DECEMBER 31, 2009 .......... $16 $158,129 $(27,034) $ (97,715) $ 33,396 $ 1 $ 33,397
Net income ............................. — — — 2,578 2,578 (7) 2,571
Foreign currency translation adjustments .......... — — — (131) (131) — (131)
Change in unrealized gain on securities ........... — — — (1) (1) — (1)
Change in unfunded benefit obligation ........... — — — 55 55 — 55
Change in realized and unrealized losses on derivative
financial instruments ...................... — — — 25 25 — 25
Comprehensive income...................... — — — 2,526 2,526 (7) 2,519
Cash dividends . . ......................... — (971) — — (971) — (971)
Common stock repurchases ................... — — (1,999) — (1,999) — (1,999)
Noncontrolling interests of acquired businesses ..... — — — — — 11 11
Amounts related primarily to stock options and
restricted stock
(b)
........................ — (12) — — (12) — (12)
BALANCE AT DECEMBER 31, 2010 .......... $16 $157,146 $(29,033) $ (95,189) $ 32,940 $ 5 $ 32,945
(a)
For the year ended December 31, 2008, reflects the impact of adopting accounting guidance related to the accounting for collateral
assignment and endorsement split-dollar life insurance arrangements.
(b)
Amounts related primarily to stock options and restricted stock includes write-offs of deferred tax assets related to equity-based
compensation.
See accompanying notes.
57