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ADDITIONAL FINANCIAL INFORMATION (Tables)
9 Months Ended
Sep. 30, 2013
Additional Financial Information Table [Abstract]  
Schedule of Other Current Assets

Other current assets as of September 30, 2013 and December 31, 2012 consisted of (in millions):

                 September 30, December 31,
                 2013 2012
Prepaid income taxes$ 112 $ 23
Other prepaid expenses  172   165
Other current assets  45   35
Total other current assets$ 329 $ 223
Schedule of Other Current Liabilities

Other current liabilities as of September 30, 2013 and December 31, 2012 consisted of (in millions):

                 September 30, December 31,
                 2013 2012
Accrued interest$ 438 $ 586
Accrued compensation and benefits  363   384
Accrued insurance  180   169
Accrued franchise fees  145   168
Accrued sales and other taxes  127   99
Other accrued expenses  383   399
Total other current liabilities$ 1,636 $ 1,805
Schedule of Revenue

Revenue for the three and nine months ended September 30, 2013 and 2012 consisted of (in millions):

           Three Months Ended Nine Months Ended
           September 30, September 30,
           2013 2012 2013 2012
Residential services$ 4,579 $ 4,548 $ 13,822 $ 13,598
Business services  594   493   1,696   1,386
Advertising  253   264   741   740
Other  92   58   284   177
Total revenue$ 5,518 $ 5,363 $ 16,543 $ 15,901
Schedule of Interest Expense, Net

Interest expense, net, for the three and nine months ended September 30, 2013 and 2012 consisted of (in millions):

           Three Months Ended Nine Months Ended
           September 30, September 30,
           2013 2012 2013 2012
Interest expense$ (379) $ (404) $ (1,178) $ (1,210)
Interest income  —   2   3   6
Interest expense, net$ (379) $ (402) $ (1,175) $ (1,204)
Schedule of Other Income, Net

Other income, net, for the three and nine months ended September 30, 2013 and 2012 consisted of (in millions):

           Three Months Ended Nine Months Ended
           September 30, September 30,
           2013 2012 2013 2012
Income from equity-method investments, net(a)$ 2 $ 438 $ 16 $ 445
Gain on sale of investment in Clearwire  —   64   —   64
Loss on equity award reimbursement obligation           
 to Time Warner  (3)   (7)   (8)   (5)
Other investment losses(b)  —   —   —   (12)
Other  1   1   2   1
Other income, net$ — $ 496 $ 10 $ 493

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  • Income from equity-method investments, net, for the three and nine months ended September 30, 2012 primarily consists of a pretax gain of $430 million associated with SpectrumCo, LLC's (“SpectrumCo”) sale of its advanced wireless spectrum licenses to Cellco Partnership (doing business as Verizon Wireless). SpectrumCo is a joint venture between TWC, Comcast Corporation and Bright House Networks, LLC.
  • Other investment losses in 2012 represents an impairment of the Company's investment in Canoe Ventures LLC, an equity-method investee.

 

Schedule of Related Party Transactions

A summary of TWC's transactions with related parties (e.g., equity-method investees) for the three and nine months ended September 30, 2013 and 2012 is as follows (in millions):

           Three Months Ended Nine Months Ended
           September 30, September 30,
           2013 2012 2013 2012
Revenue$ 2 $ 3 $ 6 $ 8
Cost of revenue  (49)   (56)   (162)   (183)
Schedule of Supplemental Cash Flow Information

Additional financial information with respect to cash (payments) and receipts for the nine months ended September 30, 2013 and 2012 is as follows (in millions):

                 Nine Months Ended
                 September 30,
                 2013 2012
Cash paid for interest$ (1,425) $ (1,433)
Interest income received(a)  121   131
Cash paid for interest, net$ (1,304) $ (1,302)
                      
Cash paid for income taxes$ (472) $ (300)
Cash refunds of income taxes  1   9
Cash paid for income taxes, net$ (471) $ (291)

——————————

  • Interest income received includes amounts received under interest rate swap contracts.