Time Magazine 2011 Annual Report Download - page 124

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TIME WARNER INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
18. ADDITIONAL FINANCIAL INFORMATION
Cash Flows
Additional financial information with respect to cash payments and receipts is as follows (millions):
Year Ended December 31,
2011 2010 2009
Cash payments made for interest ........................... $ (1,119) $ (1,086) $ (1,125)
Interest income received ................................. 40 26 43
Cash interest payments, net ............................... $ (1,079) $ (1,060) $ (1,082)
Cash payments made for income taxes ...................... $ (1,174) $ (961) $ (1,150)
Income tax refunds received .............................. 95 90 99
TWC and AOL tax sharing (payments) receipts, net(a) .......... — (87) 241
Cash tax payments, net .................................. $ (1,079) $ (958) $ (810)
(a) Represents net amounts (paid) received from TWC and AOL in accordance with tax sharing agreements with TWC and AOL.
Interest Expense, Net
Interest expense, net, consists of (millions):
Year Ended December 31,
2011 2010 2009
Interest income ......................................... $ 111 $ 99 $ 138
Interest expense ........................................ (1,321) (1,277) (1,304)
Total interest expense, net ................................ $ (1,210) $ (1,178) $ (1,166)
Other Loss, Net
Other loss, net, consists of (millions):
Year Ended December 31,
2011 2010 2009
Investment gains (losses), net .............................. $ (168) $ 32 $ (21)
Premiums paid and transaction costs incurred in connection with
debt redemptions ...................................... — (364) —
Income (loss) on equity method investees ..................... (40) 6 (32)
Other ................................................. (21) (5) (14)
Total other loss, net ...................................... $ (229) $ (331) $ (67)
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