Time Magazine 2015 Annual Report Download - page 120

Download and view the complete annual report

Please find page 120 of the 2015 Time Magazine annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 140

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140

TIME WARNER INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
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, 2012 .................... $ 93 $ 6 $ 99
Net accruals .............................................. 174 9 183
Noncash reductions (a) ...................................... (1) — (1)
Cash paid ................................................ (86) (9) (95)
Remaining liability as of December 31, 2013 .................... 180 6 186
Net accruals .............................................. 499 13 512
Noncash reductions (a) ...................................... (3) — (3)
Cash paid ................................................ (151) (10) (161)
Remaining liability as of December 31, 2014 .................... 525 9 534
Net accruals .............................................. 43 17 60
Foreign currency translation adjustment ........................ (3) — (3)
Noncash reductions (a) ...................................... (1) — (1)
Cash paid ................................................ (325) (12) (337)
Remaining liability as of December 31, 2015 .................... $ 239 $ 14 $ 253
(a) Noncash reductions relate to the settlement of certain employee-related liabilities with equity instruments.
As of December 31, 2015, of the remaining $253 million liability, $213 million was classified as a current liability in
the Consolidated Balance Sheet, with the remaining $40 million classified as a long-term liability. Amounts classified as
long-term are expected to be paid through 2019.
15. SEGMENT INFORMATION
Time Warner classifies its operations into three reportable segments: Turner: consisting principally of cable networks
and digital media properties; Home Box Office: consisting principally of premium pay television and streaming services
domestically and premium pay, basic tier television and streaming services internationally; and Warner Bros.: consisting
principally of television, feature film, home video and videogame production and distribution. Time Warner’s reportable
segments have been determined in accordance with its internal management structure and the financial information that is
evaluated regularly by the Company’s chief operating decision maker.
In the ordinary course of business, Time Warner’s reportable segments enter into transactions with one another. The
most common types of intersegment transactions include the Warner Bros. segment generating revenues by licensing
television and theatrical programming to the Turner and Home Box Office segments. While intersegment transactions are
treated like third-party transactions to determine segment performance, the revenues (and corresponding expenses or assets
recognized by the segment that is the counterparty to the transaction) are eliminated in consolidation and, therefore, do not
affect consolidated results.
106