America Online 2009 Annual Report Download - page 38
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Table of Contents
ITEM 6. SELECTED FINANCIAL DATA
The following financial information for the five years ended December 31, 2009 has been derived from the Company's consolidated financial
statements. The selected consolidated financial data as of December 31, 2009 and 2008 and for the years ended December 31, 2009, 2008 and 2007 is derived
from our consolidated financial statements included elsewhere in this Annual Report. The selected consolidated financial data as of December 31, 2007 and
for the year ended December 31, 2006 is derived from audited financial statements not included herein and the selected historical consolidated financial data
as of December 31, 2006 and 2005 and for the year ended December 31, 2005 is derived from our unaudited consolidated financial statements that are not
included in this Annual Report. The unaudited financial statements have been prepared on the same basis as the audited financial statements, and in the
opinion of our management include all adjustments, consisting of only ordinary recurring adjustments, necessary for a fair presentation of the information set
forth in this Annual Report.
The selected historical financial data presented below should be read in conjunction with our consolidated financial statements and the accompanying
notes thereto, and "Item 7—Management's Discussion and Analysis of Financial Condition and Results of Operations," included elsewhere in this Annual
Report. Prior to December 9, 2009, the effective date of the spin-off, we were a subsidiary of Time Warner. The financial information included herein may
not necessarily reflect our financial position, results of operations and cash flows in the future or what our financial position, results of operations and cash
flows would have been had we been an independent, publicly-traded company during the periods presented. In addition, our historical financial information
does not reflect changes that we expect to experience in the future as a result of our separation from Time Warner, including changes in the financing,
operations, cost structure and personnel needs of our business. Further, the historical financial information includes allocations of certain Time Warner
corporate expenses. We believe the assumptions and methodologies underlying the allocation of general corporate expenses are reasonable. However, such
expenses may not be indicative of the actual level of expense that would have been incurred by us if we had operated as an independent, publicly-traded
company or of the costs to be incurred in the future.
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