Time Magazine 2013 Annual Report Download - page 121

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TIME WARNER INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
14. RESTRUCTURING AND SEVERANCE COSTS
The Company’s Restructuring and severance costs primarily related to employee termination costs, ranging
from senior executives to line personnel, and other exit costs, including lease terminations. Restructuring and
severance costs expensed as incurred for the years ended December 31, 2013, 2012 and 2011 are as follows
(millions):
Year Ended December 31,
2013 2012 2011
Turner ...................................................... $ 93 $ 52 $ 37
Home Box Office .............................................. 39 15 15
Warner Bros. ................................................. 49 23 41
Time Inc. .................................................... 63 27 18
Corporate ....................................................222
Total restructuring and severance costs ............................. $ 246 $ 119 $ 113
Year Ended December 31,
2013 2012 2011
2013 activity ................................................. $ 242 $ — $ —
2012 activity ................................................. 8 101 —
2011 and prior activity .......................................... (4) 18 113
Restructuring and severance costs ................................. $ 246 $ 119 $ 113
2013 Initiatives
For the year ended December 31, 2013, the Company incurred $242 million in Restructuring and severance
costs primarily related to various employee terminations and other exit activities, including $87 million at the
Turner segment, $39 million at the Home Box Office segment, $42 million at the Warner Bros. segment, $69
million at the Time Inc. segment and $5 million at Corporate.
2012 Initiatives
For the year ended December 31, 2012, the Company incurred $101 million in Restructuring and severance
costs primarily related to various employee terminations and other exit activities, including $52 million at the
Turner segment, $15 million at the Home Box Office segment, $10 million at the Warner Bros. segment, $22
million at the Time Inc. segment and $2 million at Corporate.
During the year ended December 31, 2013, the Company incurred Restructuring and severance costs $6
million at the Turner segment and $2 million at the Warner Bros. segment relating to the 2012 restructuring
initiatives.
2011 and Prior Year Initiatives
For the year ended December 31, 2011, the Company incurred $113 million in Restructuring and severance
costs primarily related to various employee terminations and other exit activities, including $37 million at the
Turner segment, $15 million at the Home Box Office segment, $41 million at the Warner Bros. segment, $18
million at the Time Inc. segment and $2 million at Corporate.
105