Time Magazine 2014 Annual Report Download - page 133
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Reconciliation of Adjusted EPS to Diluted Income Per Common Share from Continuing Operations Attributable to
Time Warner Inc. Common Shareholders
(unaudited)
Year Ended December 31,
2014 2013
(recast)
Diluted income per common share from continuing operations attributable to Time
Warner Inc. common shareholders ...................................... $ 4.41 $ 3.56
Less Impact of items affecting comparability on diluted income per common share
from continuing operations attributable to Time Warner Inc. common
shareholders ....................................................... 0.26 0.05
Adjusted EPS ........................................................ $ 4.15 $ 3.51
Summary of Items Affecting Comparability
(millions; unaudited)
Year Ended December 31,
2014 2013
(recast)
Asset impairments ..................................................... $ (69) $ (61)
Gain on operating assets, net ............................................ 464 129
Venezuelan foreign currency loss(1) ....................................... (173) -
Other operating income items(2) .......................................... (80) 5
Gains on investments .................................................. 30 61
Other
Amounts related to separation of Time Warner Cable Inc. ................... (11) 3
Amounts related to disposition of Warner Music Group ..................... 2 (1)
Amounts related to separation of Time Inc. ............................... 3 -
Items affecting comparability relating to equity method investments(3) .......... (97) (30)
Total other ....................................................... (103) (28)
Total of above items affecting comparability ................................ 69 106
Income tax impact of above items ........................................ 165 (59)
Impact of items affecting comparability on income from continuing operations
attributable to Time Warner Inc. shareholders ............................. $ 234 $ 47
(1) Venezuelan foreign currency loss during 2014 related to the translation of net monetary assets denominated in Venezuelan currency resulting from the
Company’s change to begin using the SICAD 2 exchange rate.
(2) Other operating income items includes gains and losses recognized in connection with pension and other postretirement benefit plan curtailments or
settlements; external costs related to mergers, acquisitions or dispositions; and amounts related to securities litigation and government investigations.
(3) For 2014 and 2013, reflects Time Warner’s share of a noncash loss on extinguishment of debt of an equity method investee. For 2014, also reflects Time
Warner’s share of discontinued operations of an equity method investee. For 2013, also reflects Time Warner’s share of noncash impairments recorded
by an equity method investee.
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