Time Warner Cable 2012 Annual Report Download - page 119
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TIME WARNER CABLE INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Restructuring Costs
Beginning in the first quarter of 2009, the Company began a restructuring to improve operating efficiency, primarily
related to employee terminations and other exit costs. Through December 31, 2012, the Company incurred costs of $254
million and made payments of $227 million related to this restructuring. Through December 31, 2011, the Company
terminated approximately 2,975 employees and terminated approximately 1,135 additional employees during the year ended
December 31, 2012. The Company expects to incur additional restructuring costs during 2013 in connection with initiatives
intended to improve operating efficiency, primarily related to employee terminations. Information relating to restructuring
costs is as follows (in millions):
Employee
Termination
Costs
Other
Exit Costs Total
Remaining liability as of December 31, 2009 .............................$ 20 $ 1 $ 21
Costs incurred ...................................................... 33 19 52
Cash paid .......................................................... (39) (12) (51)
Remaining liability as of December 31, 2010 ............................. 14 8 22
Costs incurred ...................................................... 44 16 60
Cash paid .......................................................... (29) (20) (49)
Remaining liability as of December 31, 2011 ............................. 29 4 33
Costs incurred ...................................................... 46 15 61
Cash paid .......................................................... (51) (16) (67)
Remaining liability as of December 31, 2012(a) ............................
$ 24$ 3$ 27
(a) Of the remaining liability as of December 31, 2012, $26 million is classified as a current liability, with the remaining amount classified as a noncurrent
liability in the consolidated balance sheet. Amounts are expected to be paid through March 2014.
16. INCOME TAXES
The current and deferred income tax (benefit) provision for the years ended December 31, 2012, 2011 and 2010 is as
follows (in millions):
Year Ended December 31,
2012 2011 2010
Federal:
Current .........................................................$ 495 $ 69 $ 127
Deferred ........................................................ 634 843 654
State:
Current ......................................................... 120 88 69
Deferred ........................................................ (72) (205) 33
Total ...........................................................$ 1,177 $ 795 $ 883
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