Time Magazine 2013 Annual Report Download - page 122

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TIME WARNER INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
During the years ended December 31, 2013 and December 31, 2012, the Company also adjusted certain
charges related to the restructuring initiatives that were undertaken in 2011 and prior years as a result of changes
in estimates of previously established accruals. During the year ended December 31, 2013, the Company incurred
$5 million at the Warner Bros. segment, reversed $6 million at the Time Inc. segment and reversed $3 million at
Corporate related to the 2011 and prior year initiatives. During the year ended December 31, 2012, the Company
incurred $13 million at the Warner Bros. segment and $5 million at the Time Inc. segment related to the 2011
and prior year initiatives.
Selected Information
Selected information relating to accrued restructuring and severance costs is as follows (millions):
Employee
Terminations
Other Exit
Costs Total
Remaining liability as of December 31, 2010 ................ $ 107 $ 84 $ 191
Net accruals .......................................... 102 11 113
Noncash reductions(a) ................................... (5) — (5)
Cash paid ............................................ (88) (35) (123)
Remaining liability as of December 31, 2011 ................ 116 60 176
Net accruals .......................................... 104 15 119
Noncash reductions(a) ................................... (1) — (1)
Cash paid ............................................ (101) (27) (128)
Remaining liability as of December 31, 2012 ................ 118 48 166
Net accruals .......................................... 241 5 246
Noncash reductions(a) ................................... (3) — (3)
Cash paid ............................................ (148) (17) (165)
Remaining liability as of December 31, 2013 ................ $ 208 $ 36 $ 244
(a) Noncash reductions relate to the settlement of certain employee-related liabilities with equity instruments.
As of December 31, 2013, of the remaining liability of $244 million, $144 million was classified as a current
liability in the Consolidated Balance Sheet, with the remaining $100 million classified as a long-term liability.
Amounts classified as long-term are expected to be paid through 2020.
15. SEGMENT INFORMATION
Time Warner classifies its operations into four reportable segments: Turner: consisting principally of cable
networks and digital media properties; Home Box Office: consisting principally of premium pay television
services domestically and premium pay and basic tier television services internationally; Warner Bros.:
consisting principally of feature film, television, home video and videogame production and distribution; and
Time Inc.: consisting principally of magazine publishing and related websites and operations. In the fourth
quarter of 2013, the Company separated its former Networks reportable segment into two reportable segments:
Turner and Home Box Office. In addition, during the fourth quarter of 2013, the Company changed the names of
its Film and TV Entertainment reportable segment to Warner Bros. and its Publishing reportable segment to
Time Inc. The new presentation had no impact on the historical consolidated financial information previously
reported by the Company.
106