Income Per Common Share

6 Months Ended

Jun. 30, 2011

Income Per Common Share Disclosure [Abstract]

Set forth below is a reconciliation of basic and diluted income per common share (millions, except per share amounts):

		Three Months Ended				Six Months Ended
	6/30/11		6/30/10		6/30/11		6/30/10

Income attributable to Time Warner Inc.
shareholders	$	638	$	562	$	1,291	$	1,287
Income allocated to participating securities		(4)		(3)		(8)		(6)
Income attributable to Time Warner Inc.
common shareholders— basic	$	634	$	559	$	1,283	$	1,281

Average number of common shares outstanding
— basic		1,065.4		1,136.5		1,078.1		1,143.1
Dilutive effect of equity awards		18.5		17.3		18.9		16.4
Average number of common shares outstanding
— diluted		1,083.9		1,153.8		1,097.0		1,159.5

Income per common share attributable to
Time Warner Inc. common shareholders:
Basic	$	0.60	$	0.49	$	1.19	$	1.12
Diluted	$	0.59	$	0.49	$	1.18	$	1.11

Diluted income per common share for the three and six months ended June 30, 2011 and for the three and six months ended June 30, 2010 excludes approximately 69 million and 75 million, respectively, and 127 million and 137 million, respectively, common shares that may be issued under the Company's stock compensation plans because they do not have a dilutive effect.