Time Magazine 2012 Annual Report Download - page 70

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TIME WARNER INC.
CONSOLIDATED STATEMENT OF OPERATIONS
Year Ended December 31,
(millions, except share amounts)
2012 2011 2010
Revenues:
Subscription ................................................... $ 9,997 $ 9,523 $ 9,028
Advertising .................................................... 6,121 6,116 5,682
Content ....................................................... 11,832 12,635 11,565
Other ......................................................... 779 700 613
Total revenues ................................................... 28,729 28,974 26,888
Costs of revenues ................................................. (15,934) (16,311) (15,023)
Selling, general and administrative ................................... (6,333) (6,439) (6,126)
Amortization of intangible assets ..................................... (248) (269) (264)
Restructuring and severance costs .................................... (119) (113) (97)
Asset impairments ................................................ (186) (44) (20)
Gain on operating assets, net ........................................ 9 7 70
Operating income ................................................. 5,918 5,805 5,428
Interest expense, net ............................................... (1,253) (1,210) (1,178)
Other loss, net .................................................... (123) (229) (331)
Income before income taxes ......................................... 4,542 4,366 3,919
Income tax provision .............................................. (1,526) (1,484) (1,348)
Net income ...................................................... 3,016 2,882 2,571
Less Net loss attributable to noncontrolling interests .....................347
Net income attributable to Time Warner Inc. shareholders ................. $ 3,019 $ 2,886 $ 2,578
Per share information attributable to Time Warner Inc. common
shareholders:
Basic net income per common share .................................. $ 3.14 $ 2.74 $ 2.27
Average basic common shares outstanding ............................. 954.4 1,046.2 1,128.4
Diluted net income per common share ................................. $ 3.09 $ 2.71 $ 2.25
Average diluted common shares outstanding ........................... 976.3 1,064.5 1,145.3
Cash dividends declared per share of common stock ..................... $ 1.04 $ 0.94 $ 0.85
See accompanying notes.
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