Consolidated Statement Of Operations (Unaudited) (USD $) In Millions, except Per Share data	3 Months Ended	6 Months Ended
Jun. 30, 2011	Jun. 30, 2010	Jun. 30, 2011	Jun. 30, 2010
Consolidated Statement of Operations
Revenues	$ 7,030	$ 6,377	$ 13,713	$ 12,699
Costs of revenues	(4,044)	(3,599)	(7,771)	(6,952)
Selling, general and administrative	(1,621)	(1,512)	(3,212)	(3,000)
Amortization of intangible assets	(66)	(66)	(134)	(134)
Restructuring and severance costs	(24)	(6)	(54)	(15)
Asset impairments	(11)	0	(11)	0
Gain on operating assets	2	0	5	59
Operating income	1,266	1,194	2,536	2,657
Interest expense, net	(314)	(300)	(588)	(596)
Other loss, net	(2)	(17)	(16)	(70)
Income before income taxes	950	877	1,932	1,991
Income tax provision	(313)	(317)	(644)	(706)
Net income	637	560	1,288	1,285
Less Net loss attributable to noncontrolling interests	1	2	3	2
Net income attributable to Time Warner Inc. shareholders	$ 638	$ 562	$ 1,291	$ 1,287
Per share information attributable to Time Warner Inc. common shareholders:
Basic net income per common share	$ 0.60	$ 0.49	$ 1.19	$ 1.12
Average basic common shares outstanding	1,065.4	1,136.5	1,078.1	1,143.1
Diluted net income per common share	$ 0.59	$ 0.49	$ 1.18	$ 1.11
Average diluted common shares outstanding	1,083.9	1,153.8	1,097.0	1,159.5
Cash dividends declared per share of common stock	$ 0.2350	$ 0.2125	$ 0.4700	$ 0.4250

The gains and losses resulting from the sale or disposal of tangible assets as well as the gains and losses related to business combinations achieved in stages due to re-measuring to fair value the equity interest in the acquiree held before the business combination.

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