Time Magazine 2014 Annual Report Download - page 128

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TIME WARNER INC.
QUARTERLY FINANCIAL INFORMATION
(Unaudited)
The following table sets forth the quarterly information for Time Warner:
Quarter Ended
March 31, June 30, September 30, December 31,
(recast)
(millions, except per share amounts)
2014(a)
Total revenues ................................. $ 6,803 $ 6,788 $ 6,243 $ 7,525
Operating income ............................... 2,048 1,567 971 1,389
Income from continuing operations ................. 1,365 843 966 720
Discontinued operations, net of tax ................. (73) 7 1 (2)
Net income .................................... 1,292 850 967 718
Net income attributable to Time Warner Inc.
shareholders ................................... 1,292 850 967 718
Per share information attributable to Time
Warner Inc. common shareholders:
Basic income per common share from continuing
operations ..................................... 1.53 0.96 1.13 0.86
Diluted income per common share from continuing
operations ..................................... 1.50 0.94 1.11 0.84
Basic net income per common share ................ 1.45 0.97 1.13 0.85
Diluted net income per common share ............... 1.42 0.95 1.11 0.84
Cash provided by operations from continuing
operations ................................... 1,733 324 617 1,007
Common stock — high(b) ......................... 68.93 71.08 87.36 86.71
Common stock — low(b) .......................... 61.52 62.76 70.57 70.64
Cash dividends declared per share of common stock . . . 0.3175 0.3175 0.3175 0.3175
(a) As a result of the legal and structural separation of Time Inc., the Company has presented the financial position and results of operations of its former
Time Inc. segment as discontinued operations for all periods presented. In the first quarter of 2014, this resulted in a reduction of Revenues of $742
million, an increase in Operating income of $116 million; and an increase in Income from continuing operations attributable to Time Warner Inc.
common shareholders of $73 million.
(b) The common stock prices on or prior to June 6, 2014, the date of the legal and structural separation of Time Inc., have not been adjusted for the legal and
structural separation of Time Inc.
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