Time Magazine 2012 Annual Report Download - page 104

Download and view the complete annual report

Please find page 104 of the 2012 Time Magazine annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 134

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134

TIME WARNER INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
The following summary sets forth the activity within Other comprehensive income (loss) (millions):
Pretax
Tax
(provision)
benefit
Net of
tax
Year Ended December 31, 2010
Unrealized losses on foreign currency translation ............................. $(128) $ (3) $(131)
Unrealized gains (losses) on securities ..................................... (3) 1 (2)
Reclassification adjustment for (gains) losses on securities realized in net income . . . 2 (1) 1
Unrealized gains (losses) on benefit obligation ............................... 42 (15) 27
Reclassification adjustment for (gains) losses on benefit obligation realized in net
income ............................................................ 43 (15) 28
Unrealized gains (losses) on derivative financial instruments ................... (2) 1 (1)
Reclassification adjustment for derivative financial instrument (gains) losses realized
in net income ....................................................... 41 (15) 26
Other comprehensive loss ............................................... $ (5) $(47) $ (52)
Year Ended December 31, 2011
Unrealized losses on foreign currency translation ............................. $ (49) $ (5) $ (54)
Unrealized gains (losses) on securities ..................................... 6 (2) 4
Unrealized gains (losses) on benefit obligation ............................... (318) 109 (209)
Reclassification adjustment for (gains) losses on benefit obligation realized in net
income ............................................................ 20 (7) 13
Unrealized gains (losses) on derivative financial instruments ................... 11 (4) 7
Reclassification adjustment for derivative financial instrument (gains) losses realized
in net income ....................................................... 30 (11) 19
Other comprehensive income (loss) ....................................... $(300) $ 80 $(220)
Year Ended December 31, 2012
Unrealized gains on foreign currency translation ............................. $ 47 $ (8) $ 39
Reclassification adjustment for losses on foreign currency translation realized in net
income ............................................................ 10 — 10
Unrealized gains on securities ............................................ 1 — 1
Unrealized gains (losses) on benefit obligation ............................... (312) 106 (206)
Reclassification adjustment for (gains) losses on benefit obligation realized in net
income ............................................................ 28 (10) 18
Unrealized gains (losses) on derivative financial instruments ................... 5 (2) 3
Reclassification adjustment for derivative financial instrument (gains) losses realized
in net income ....................................................... (2) 1 (1)
Other comprehensive income (loss) ....................................... $(223) $ 87 $(136)
The following summary sets forth the components of Accumulated other comprehensive loss, net of tax
(millions):
December 31,
2012
December 31,
2011
Foreign currency translation gains (losses) .................................. $ 3 $ (46)
Net unrealized gains on securities ......................................... 13 12
Net derivative financial instruments gains ................................... 12 10
Net unfunded/underfunded benefit obligation ................................ (1,016) (828)
Accumulated other comprehensive loss, net ................................. $ (988) $(852)
88