Time Magazine 2011 Annual Report Download - page 129

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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, 2011 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, 2008 and December 31, 2007 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 2011
presentation.
Year Ended December 31,
2011 2010 2009 2008(a)(b) 2007(b)
(millions, except per share amounts)
Selected Operating Statement Information:
Total revenues ................................... $ 28,974 $ 26,888 $ 25,388 $ 26,434 $ 26,211
Operating income (loss) ............................ 5,805 5,428 4,470 (3,044) 4,167
Net income (loss) ................................. 2,882 2,571 2,512 (14,649) 4,627
Amounts attributable to Time Warner Inc.
shareholders:
Income (loss) from continuing operations .............. $ 2,886 $ 2,578 $ 2,088 $ (5,090) $ 1,889
Discontinued operations, net of tax ................... — — 389 (8,308) 2,498
Cumulative effect of accounting change ............... —————
Net income (loss) ................................. $ 2,886 $ 2,578 $ 2,477 $ (13,398) $ 4,387
Per share information attributable to Time Warner
Inc. common shareholders:
Basic income (loss) per common share from continuing
operations ..................................... $ 2.74 $ 2.27 $ 1.76 $ (4.27) $ 1.52
Discontinued operations ........................... — — 0.32 (6.95) 2.02
Cumulative effect of accounting change ............... —————
Basic net income (loss) per common share ............. $ 2.74 $ 2.27 $ 2.08 $ (11.22) $ 3.54
Diluted income (loss) per common share from continuing
operations ..................................... $ 2.71 $ 2.25 $ 1.75 $ (4.27) $ 1.51
Discontinued operations ........................... — — 0.32 (6.95) 1.99
Cumulative effect of accounting change ............... —————
Diluted net income (loss) per common share ........... $ 2.71 $ 2.25 $ 2.07 $ (11.22) $ 3.50
Average common shares:
Basic ...................................... 1,046.2 1,128.4 1,184.0 1,194.2 1,239.6
Diluted ..................................... 1,064.5 1,145.3 1,195.1 1,194.2 1,254.0
Selected Balance Sheet Information:
Cash and equivalents .............................. $ 3,476 $ 3,663 $ 4,733 $ 1,082 $ 1,133
Total assets ...................................... 67,801 66,707 66,207 114,577 134,966
Debt due within one year ........................... 23 26 57 2,041 51
Non-recourse debt ................................ — — 805 805 1,036
Long-term debt .................................. 19,501 16,523 15,346 19,855 23,402
Time Warner Inc. shareholders’ equity ................ 29,957 32,940 33,396 42,292 58,536
Total capitalization at book value .................... 49,481 49,489 49,604 64,993 83,025
Cash dividends declared per share of common stock ..... 0.940 0.850 0.750 0.750 0.705
(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 and 2007 include amounts related to
discontinued operations, primarily related to TWC and AOL.
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