Time Warner Cable 2009 Annual Report Download - page 115

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TIME WARNER CABLE INC.
QUARTERLY FINANCIAL INFORMATION
(Unaudited)
March 31, June 30, September 30, December 31,
Quarter Ended
(in millions, except per share data)
2009
Revenues:
Subscription ........................................ $ 4,219 $ 4,300 $ 4,316 $ 4,331
Advertising ......................................... 145 174 182 201
Total revenues ........................................ 4,364 4,474 4,498 4,532
Operating Income ...................................... 716 882 828 891
Net income .......................................... 184 317 268 323
Net income attributable to TWC ........................... 164 316 268 322
Net income attributable to TWC per common share:
Basic
(a)
............................................ 0.48 0.90 0.76 0.91
Diluted
(a)
.......................................... 0.48 0.89 0.76 0.91
Common stock—high
(b)
................................. 68.22 36.25 44.01 44.09
Common stock—low
(b)
.................................. 20.19 24.00 28.66 38.24
Special cash dividend declared and paid per common share . . . .... 30.81 — — —
2008
Revenues:
Subscription ........................................ $ 3,963 $ 4,065 $ 4,116 $ 4,158
Advertising ......................................... 197 233 224 244
Total revenues ........................................ 4,160 4,298 4,340 4,402
Operating Income (Loss)
(c)
............................... 636 738 788 (13,944)
Net income (loss)
(c)
.................................... 266 305 335 (8,869)
Net income (loss) attributable to TWC ...................... 242 277 301 (8,164)
Net income attributable to TWC per common share:
Basic
(a)
............................................ 0.74 0.85 0.92 (25.07)
Diluted
(a)
.......................................... 0.74 0.85 0.92 (25.07)
Common stock—high
(b)
................................. 84.36 94.68 89.88 78.78
Common stock—low
(b)
.................................. 65.85 75.93 70.20 48.90
(a)
Per common share amounts for the quarters and full years have each been calculated separately. Accordingly, quarterly amounts may not sum to the annual amounts
because of differences in the weighted-average common shares outstanding during each period.
(b)
Common stock high and low prices reflect the 1-for-3 reverse stock split implemented on March 12, 2009.
(c)
Operating Income (Loss) and net income (loss) each includes a $45 million loss on the sale of cable systems for the quarter ended June 30, 2008, and a $14.822 billion
impairment charge on cable franchise rights and a $13 million loss on the sale of cable systems for the quarter ended December 31, 2008. Net income (loss) includes a
$367 million impairment charge on the Company’s investment in Clearwire Communications LLC for the quarter ended December 31, 2008.
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