TIME WARNER INC. | 2013 | FY | 3


The Company recorded noncash impairments of intangible assets during the years ended December 31, 2013, 2012 and 2011 by reportable segment, as follows (millions):

   Year Ended December 31,
   2013 2012 2011
 Turner $ 18 $ 79 $ 5
 Warner Bros.   1   1   1
 Time Inc.   78   -   13
 Time Warner $ 97 $ 80 $ 19

For the year ended December 31, 2013, the Company recorded an impairment of intangible assets at the Time Inc. segment in connection with the performance of its annual impairment analysis as well as in connection with triggering events affecting two of its tradenames. For the year ended December 31, 2012, the Turner segment recognized impairments of both Goodwill and intangible assets related to the shutdown of Imagine (see Note 3 for additional information). The impairments noted above did not result in non-compliance with respect to any debt covenants.

 


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