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TIME WARNER CABLE INC.
CONSOLIDATED STATEMENT OF EQUITY
Common
Stock
Paid-in
Capital
Retained
Earnings
(Accumulated
Deficit)
Total TWC
Shareholders’
Equity
Noncontrolling
Interests
Total
Equity
(in millions)
BALANCE AS OF DECEMBER 31, 2006 ................ $ 3$ 19,321 $ 4,240 $ 23,564 $ 1,624 $ 25,188
Net income . ...................................... — — 1,123 1,123 99 1,222
Change in underfunded / unfunded pension benefit obligation, net
of $29 million income tax benefit...................... — — (43) (43) — (43)
Change in realized / unrealized losses on derivative financial
instruments, net of $1 million income tax benefit .......... — — (1) (1) — (1)
Comprehensive income . . . ............................ — — 1,079 1,079 99 1,178
Equity-based compensation ............................ — 55 — 55 4 59
Impact of adopting new accounting pronouncements
(a)
........ — — (34) (34) — (34)
Other changes ..................................... — 42 — 42 (3) 39
BALANCE AS OF DECEMBER 31, 2007 ................ 3 19,418 5,285 24,706 1,724 26,430
Net loss .......................................... — — (7,344) (7,344) (619) (7,963)
Change in underfunded / unfunded pension benefit obligation, net
of $192 million income tax benefit ..................... — — (290) (290) — (290)
Change in realized / unrealized losses on derivative financial
instruments, net of $2 million income tax benefit .......... — — (3) (3) — (3)
Comprehensive loss ................................. — — (7,637) (7,637) (619) (8,256)
Equity-based compensation ............................ — 73 — 73 5 78
Impact of adopting new accounting pronouncements
(a)
........ — — (1) (1) — (1)
Other changes ..................................... — 23 — 23 — 23
BALANCE AS OF DECEMBER 31, 2008 ................ 3 19,514 (2,353) 17,164 1,110 18,274
Net income . ...................................... — — 1,070 1,070 22 1,092
Change in underfunded / unfunded pension benefit obligation, net
of $95 million income tax provision . . . ................. — — 146 146 — 146
Change in realized / unrealized gains on derivative financial
instruments, net of $2 million income tax provision . . . ...... — — 2 2 — 2
Comprehensive income . . . ............................ — — 1,218 1,218 22 1,240
Equity-based compensation ............................ — 95 — 95 2 97
Redemption of Historic TW’s interest in TW NY . ........... 1 1,127 — 1,128 (1,128) —
Special cash dividend ($30.81 per common share). ........... — (10,856) — (10,856) — (10,856)
Retained distribution related to unvested restricted stock units . . . — (46) — (46) — (46)
Other changes ..................................... — (21) 3 (18) (2) (20)
BALANCE AS OF DECEMBER 31, 2009 ................ $ 4$ 9,813 $ (1,132) $ 8,685 $ 4 $ 8,689
(a)
For the year ended December 31, 2008, the amount reflects the impact of adopting authoritative guidance issued by the Financial Accounting Standards Board (“FASB”)
relating to accounting for collateral assignment split-dollar life insurance arrangements of $1 million. For the year ended December 31, 2007, the amount relates to the
impact of adopting authoritative guidance issued by the FASB relating to accounting for sabbatical leave and other similar benefits of $37 million andaccountingfor
uncertainty in income taxes of $(3) million.
See accompanying notes.
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