Time Warner Cable 2010 Annual Report Download - page 124
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Noncash financing activities for the year ended December 31, 2009 included the TW NY Exchange, in which
Historic TW transferred its 12.43% non-voting common stock interest in TW NY to TWC in exchange for 26.7 million
newly issued shares (after giving effect to the TWC Reverse Stock Split) of TWC’s Class A common stock.
Interest Expense, Net
Interest expense, net, for the years ended December 31, 2010, 2009 and 2008 consisted of (in millions):
2010 2009 2008
Year Ended December 31,
Interest income .......................................... $ 3 $ 5 $ 38
Interest expense .......................................... (1,397) (1,324) (961)
Interest expense, net....................................... $ (1,394) $ (1,319) $ (923)
Other Expense, Net
Other expense, net, for the years ended December 31, 2010, 2009 and 2008 consisted of (in millions):
2010 2009 2008
Year Ended December 31,
Direct transaction costs related to the Separation .................. $ — $ (28) $ (17)
Income (loss) from equity investments, net ...................... (110) (49) 16
Impairment of investment in Clearwire Communications ............ — — (367)
Gain (loss) on equity award reimbursement obligation to Time
Warner ............................................... 5 (21) —
Other. . . ............................................... 6 12 1
Other expense, net ........................................ $ (99) $ (86) $ (367)
Other Current Assets
Other current assets as of December 31, 2010 and 2009 consisted of (in millions):
2010 2009
December 31,
Prepaid income taxes ................................................. $ 287 $ 103
Other prepaid expenses ................................................ 116 96
Other current assets .................................................. 22 53
Total other current assets............................................... $ 425 $ 252
112
TIME WARNER CABLE INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)