Time Warner Cable 2013 Annual Report Download - page 136

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TIME WARNER INC.
QUARTERLY FINANCIAL INFORMATION
(Unaudited)
The following table sets forth the quarterly information for Time Warner:
Quarter Ended
March 31, June 30, September 30, December 31,
(millions, except per share amounts)
2013(a)
Total revenues ...................................... $ 6,939 $ 7,435 $ 6,856 $ 8,565
Operating income .................................... 1,410 1,511 1,844 1,840
Income from continuing operations ...................... 754 771 1,046 983
Discontinued operations, net of tax ...................... — — 137 —
Net income ......................................... 754 771 1,183 983
Net income attributable to Time Warner Inc. shareholders .... 754 771 1,183 983
Per share information attributable to Time Warner Inc.
common shareholders:
Basic income per common share from continuing
operations ........................................ 0.80 0.83 1.14 1.09
Diluted income per common share from continuing
operations ........................................ 0.79 0.81 1.11 1.06
Basic net income per common share ..................... 0.80 0.83 1.29 1.09
Diluted net income per common share ................... 0.79 0.81 1.26 1.06
Cash provided by operations from continuing operations ..... 729 916 1,187 884
Common stock — high ............................... 57.62 61.52 66.20 70.31
Common stock — low ................................ 49.12 56.16 58.30 64.61
Cash dividends declared per share of common stock ........ 0.2875 0.2875 0.2875 0.2875
(a) In the second quarter of 2013, the Company recast its historical financial results to reflect the presentation of its investment in the Class A
common stock and Series A convertible stock of Central European Media Enterprises Ltd. (“CME”) under the equity method of
accounting for all prior periods from the date of the Company’s initial investment in CME in May 2009. This recast resulted in an
increase in net income of $34 million for the three months ended March 31, 2013.
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