Time Warner Cable 2010 Annual Report Download - page 54

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Basis of Presentation
Separation from Time Warner
On March 12, 2009, TWC completed its separation (the “Separation”) from Time Warner Inc. (“Time Warner”),
which, prior to the Separation, owned approximately 84% of the common stock of TWC (representing a 90.6% voting
interest) and a 12.43% non-voting common stock interest in TW NY. As a result of the Separation, Time Warner no longer
has an ownership interest in TWC or TW NY. Refer to Note 5 for additional information regarding the Separation.
Reclassifications
Certain reclassifications have been made to the prior years’ financial information to conform to the current year
presentation.
Recent Accounting Standards
See Note 2 to the accompanying consolidated financial statements for accounting standards adopted in 2010 and
recently issued accounting standards not yet adopted.
RESULTS OF OPERATIONS
2010 vs. 2009
The following discussion provides an analysis of the Company’s results of operations and should be read in
conjunction with the accompanying consolidated financial statements and notes thereto.
Revenues. Revenues by major category were as follows (in millions):
2010 2009 % Change
Year Ended December 31,
Subscription:
Video ..................................................... $ 10,995 $ 10,760 2.2%
High-speed data .............................................. 4,960 4,520 9.7%
Voice ...................................................... 2,032 1,886 7.7%
Total Subscription .............................................. 17,987 17,166 4.8%
Advertising ................................................... 881 702 25.5%
Total ........................................................ $ 18,868 $ 17,868 5.6%
42
TIME WARNER CABLE INC.
MANAGEMENT’S DISCUSSION AND ANALYSIS OF RESULTS
OF OPERATIONS AND FINANCIAL CONDITION—(Continued)