Time Magazine 2013 Annual Report Download - page 137

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TIME WARNER INC.
QUARTERLY FINANCIAL INFORMATION
(Unaudited)
Quarter Ended
March 31, June 30, September 30, December 31,
(millions, except per share amounts)
2012(a)
Total revenues ...................................... $ 6,979 $ 6,744 $ 6,842 $ 8,164
Operating income .................................... 1,247 1,063 1,581 2,027
Income from continuing operations ...................... 576 412 822 1,112
Discontinued operations, net of tax ...................... — — — —
Net income ......................................... 576 412 822 1,112
Net income attributable to Time Warner Inc. shareholders .... 578 413 822 1,112
Per share information attributable to Time Warner Inc.
common shareholders:
Basic income per common share from continuing
operations ........................................ 0.59 0.43 0.86 1.18
Diluted income per common share from continuing
operations ........................................ 0.58 0.42 0.84 1.15
Basic net income per common share ..................... 0.59 0.43 0.86 1.18
Diluted net income per common share ................... 0.58 0.42 0.84 1.15
Cash provided by operations from continuing operations ..... 416 343 1,538 1,179
Common stock — high ............................... 38.21 38.50 45.90 48.26
Common stock — low ................................ 35.68 33.76 37.49 43.04
Cash dividends declared per share of common stock ........ 0.26 0.26 0.26 0.26
(a) In the second quarter of 2013, the Company recast its historical financial results to reflect the presentation of its investment in the Class A
common stock and Series A convertible stock of CME under the equity method of accounting for all prior periods from the date of the
Company’s initial investment in CME in May 2009. This recast resulted in a decrease in net income of $5 million, $17 million, $16
million and $56 million for the three months ended March 31, 2012, June 30, 2012, September 30, 2012 and December 31, 2012,
respectively.
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