Time Magazine 2014 Annual Report Download - page 117

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TIME WARNER INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
Year Ended December 31,
2014 2013 2012
(recast) (recast)
Operating Income (Loss)
Turner ............................................... $ 2,954 $ 3,486 $ 3,172
Home Box Office ...................................... 1,786 1,791 1,547
Warner Bros. .......................................... 1,159 1,324 1,228
Corporate ............................................ (73) (394) (352)
Intersegment eliminations ................................ 149 61 (97)
Total operating income .................................. $ 5,975 $ 6,268 $ 5,498
December 31,
2014
December 31,
2013
(recast)
Assets
Turner .............................................................. $ 25,271 $ 26,067
Home Box Office ..................................................... 13,869 13,687
Warner Bros. ......................................................... 20,559 20,066
Corporate ............................................................ 3,560 2,433
Assets of discontinued operations ......................................... - 5,746
Total assets .......................................................... $ 63,259 $ 67,999
Year Ended December 31,
2014 2013 2012
(recast) (recast)
Capital Expenditures
Turner ............................................... $ 173 $ 210 $ 229
Home Box Office ...................................... 58 45 65
Warner Bros. .......................................... 206 236 270
Corporate ............................................ 37 77 45
Total capital expenditures ................................ $ 474 $ 568 $ 609
Long-lived hard assets located outside the United States, which represent approximately 1% of total assets at
December 31, 2014, are not material. Revenues in different geographical areas are as follows (millions):
Year Ended December 31,
2014 2013 2012
(recast) (recast)
Revenues(a)
United States and Canada ................................ $ 19,102 $ 18,642 $ 17,936
Europe(b) ............................................. 4,684 4,494 4,250
Asia/Pacific Rim ....................................... 1,711 1,629 1,605
Latin America ......................................... 1,575 1,475 1,288
All Other ............................................. 287 221 246
Total revenues ......................................... $ 27,359 $ 26,461 $ 25,325
(a) Revenues are attributed to region based on location of customer.
(b) Revenues in EuroZone countries comprise approximately 48%, 48% and 49% of Revenues in Europe for the years ended 2014, 2013 and 2012,
respectively.
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