Time Magazine 2012 Annual Report Download - page 122
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TIME WARNER INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
Amounts resulting from transactions with related parties consist of (millions):
Year Ended December 31,
2012 2011 2010
Revenues .................................................. $ 457 $ 472 $ 360
Expenses .................................................. (58) (63) (62)
18. ADDITIONAL FINANCIAL INFORMATION
Additional financial information with respect to cash payments and receipts, Interest expense, net, Other
loss, net, Accounts payable and accrued liabilities and Other noncurrent liabilities is as follows (millions):
Year Ended December 31,
2012 2011 2010
Cash Flows
Cash payments made for interest .............................. $(1,262) $(1,119) $(1,086)
Interest income received ..................................... 42 40 26
Cash interest payments, net .................................. $(1,220) $(1,079) $(1,060)
Cash payments made for income taxes .......................... $(1,346) $(1,174) $ (961)
Income tax refunds received .................................. 78 95 90
TWC tax sharing payments(a) ................................. (6) — (87)
Cash tax payments, net ...................................... $(1,274) $(1,079) $ (958)
(a) Represents net amounts paid to TWC in accordance with a tax sharing agreement with TWC.
Year Ended December 31,
2012 2011 2010
Interest Expense, Net
Interest income ............................................ $ 107 $ 111 $ 99
Interest expense ........................................... (1,360) (1,321) (1,277)
Total interest expense, net ................................... $(1,253) $(1,210) $(1,178)
Year Ended December 31,
2012 2011 2010
Other Loss, Net
Investment gains (losses), net ................................. $ (73) $ (168) $ 32
Premiums paid and transaction costs incurred in connection with debt
redemptions ............................................ — — (364)
Income (loss) on equity method investees ....................... (46) (40) 6
Other .................................................... (4) (21) (5)
Total other loss, net ........................................ $ (123) $ (229) $ (331)
106