Time Magazine 2011 Annual Report Download - page 70
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TIME WARNER INC.
CONSOLIDATED BALANCE SHEET
(millions, except per share amounts)
December 31,
2011
December 31,
2010
ASSETS
Current assets
Cash and equivalents ................................................... $ 3,476 $ 3,663
Receivables, less allowances of $1,957 and $1,978 ........................... 6,922 6,596
Inventories ........................................................... 1,890 1,920
Deferred income taxes .................................................. 663 581
Prepaid expenses and other current assets ................................... 481 561
Total current assets .................................................... 13,432 13,321
Noncurrent inventories and film costs ...................................... 6,594 5,985
Investments, including available-for-sale securities ........................... 1,820 1,796
Property, plant and equipment, net ........................................ 3,963 3,874
Intangible assets subject to amortization, net ................................ 2,232 2,492
Intangible assets not subject to amortization ................................. 7,805 7,827
Goodwill ............................................................ 30,029 29,994
Other assets .......................................................... 1,926 1,418
Total assets ........................................................... $ 67,801 $ 66,707
LIABILITIES AND EQUITY
Current liabilities
Accounts payable and accrued liabilities .................................... $ 7,815 $ 7,809
Deferred revenue ...................................................... 1,084 991
Debt due within one year ................................................ 23 26
Total current liabilities .................................................. 8,922 8,826
Long-term debt ........................................................ 19,501 16,523
Deferred income taxes .................................................. 2,541 1,950
Deferred revenue ...................................................... 549 296
Other noncurrent liabilities .............................................. 6,334 6,167
Commitments and Contingencies (Note 16)
Equity
Common stock, $0.01 par value, 1.652 billion and 1.641 billion shares issued and
974 million and 1.099 billion shares outstanding ........................... 17 16
Paid-in-capital ........................................................ 156,114 157,146
Treasury stock, at cost (678 million and 542 million shares) .................... (33,651) (29,033)
Accumulated other comprehensive loss, net ................................. (852) (632)
Accumulated deficit .................................................... (91,671) (94,557)
Total Time Warner Inc. shareholders’ equity ................................ 29,957 32,940
Noncontrolling interests ................................................. (3) 5
Total equity .......................................................... 29,954 32,945
Total liabilities and equity ............................................... $ 67,801 $ 66,707
See accompanying notes.
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