17. ADDITIONAL FINANCIAL INFORMATION
Other Current Assets
Other current assets as of December 31, 2013 and 2012 consisted of the following (in millions):
| December 31, | |||||||||||||||||||||
| 2013 | 2012 | ||||||||||||||||||||
| Prepaid income taxes | $ | 142 | $ | 23 | |||||||||||||||||
| Other prepaid expenses | 155 | 165 | |||||||||||||||||||
| Other current assets | 34 | 35 | |||||||||||||||||||
| Total other current assets | $ | 331 | $ | 223 | |||||||||||||||||
Other Current Liabilities
Other current liabilities as of December 31, 2013 and 2012 consisted of the following (in millions):
| December 31, | |||||||||||||||||||||
| 2013 | 2012 | ||||||||||||||||||||
| Accrued interest | $ | 529 | $ | 586 | |||||||||||||||||
| Accrued compensation and benefits | 394 | 384 | |||||||||||||||||||
| Accrued insurance | 185 | 169 | |||||||||||||||||||
| Accrued franchise fees | 155 | 168 | |||||||||||||||||||
| Accrued sales and other taxes | 132 | 99 | |||||||||||||||||||
| Other accrued expenses | 442 | 399 | |||||||||||||||||||
| Total other current liabilities | $ | 1,837 | $ | 1,805 | |||||||||||||||||
Noncontrolling Interests
During the fourth quarter of 2012, TWC acquired the remaining 45.81% noncontrolling interest in Erie Telecommunications, Inc. (“Erie”) for $32 million and, as a result, TWC owns 100% of Erie. This acquisition was recorded as an equity transaction and is reflected as a financing activity in the consolidated statement of cash flows. As a result, the carrying balance of this noncontrolling interest of $5 million was eliminated, and the remaining $27 million, representing the difference between the purchase price and carrying balance, was recorded as a reduction to additional paid-in capital.
Revenue
Revenue for the years ended December 31, 2013, 2012 and 2011 consisted of the following (in millions):
| Year Ended December 31, | |||||||||||||||||||||
| 2013 | 2012 | 2011 | |||||||||||||||||||
| Residential services | $ | 18,402 | $ | 18,175 | $ | 17,093 | |||||||||||||||
| Business services | 2,312 | 1,901 | 1,469 | ||||||||||||||||||
| Advertising | 1,019 | 1,053 | 880 | ||||||||||||||||||
| Other | 387 | 257 | 233 | ||||||||||||||||||
| Total revenue | $ | 22,120 | $ | 21,386 | $ | 19,675 | |||||||||||||||
Interest Expense, Net
Interest expense, net, for the years ended December 31, 2013, 2012 and 2011 consisted of the following (in millions):
| Year Ended December 31, | |||||||||||||||||||||
| 2013 | 2012 | 2011 | |||||||||||||||||||
| Interest expense | $ | (1,555) | $ | (1,614) | $ | (1,524) | |||||||||||||||
| Interest income | 3 | 8 | 6 | ||||||||||||||||||
| Interest expense, net | $ | (1,552) | $ | (1,606) | $ | (1,518) | |||||||||||||||
Other Income (Expense), Net
Other income (expense), net, for the years ended December 31, 2013, 2012 and 2011 consisted of the following (in millions):
| Year Ended December 31, | |||||||||||||||||||||
| 2013 | 2012 | 2011 | |||||||||||||||||||
| Income (loss) from equity-method investments, net(a)(b) | $ | 19 | $ | 454 | $ | (88) | |||||||||||||||
| Loss on equity award reimbursement obligation to Time Warner | (10) | (9) | (5) | ||||||||||||||||||
| Gain on sale of investment in Clearwire(b) | — | 64 | — | ||||||||||||||||||
| Other investment losses(c) | — | (12) | — | ||||||||||||||||||
| Other | 2 | — | 4 | ||||||||||||||||||
| Other income (expense), net | $ | 11 | $ | 497 | $ | (89) | |||||||||||||||
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Related Party Transactions
The Company's transactions with related parties (i.e., equity-method investees) for the years ended December 31, 2013, 2012 and 2011 consisted of the following (in millions):
| Year Ended December 31, | |||||||||||||||||||||
| 2013 | 2012 | 2011 | |||||||||||||||||||
| Revenue | $ | 7 | $ | 9 | $ | 17 | |||||||||||||||
| Cost of revenue: | |||||||||||||||||||||
| Programming services | $ | (205) | $ | (207) | $ | (225) | |||||||||||||||
| Other costs | (20) | (24) | (25) | ||||||||||||||||||
| Total | $ | (225) | $ | (231) | $ | (250) | |||||||||||||||
Supplemental Cash Flow Information
Additional financial information with respect to cash (payments) and receipts for the years ended December 31, 2013, 2012 and 2011 is as follows (in millions):
| Year Ended December 31, | |||||||||||||||||||||
| 2013 | 2012 | 2011 | |||||||||||||||||||
| Cash paid for interest | $ | (1,740) | $ | (1,773) | $ | (1,595) | |||||||||||||||
| Interest income received(a) | 164 | 171 | 161 | ||||||||||||||||||
| Cash paid for interest, net | $ | (1,576) | $ | (1,602) | $ | (1,434) | |||||||||||||||
| Cash paid for income taxes | $ | (698) | $ | (554) | $ | (111) | |||||||||||||||
| Cash refunds of income taxes | 2 | 10 | 273 | ||||||||||||||||||
| Cash (paid for) refunds of income taxes, net | $ | (696) | $ | (544) | $ | 162 | |||||||||||||||
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The consolidated statement of cash flows for the years ended December 31, 2013 and 2012 includes purchases of short-term investments in U.S. Treasury securities of $575 million and $150 million, respectively, (included in purchases of investments). The consolidated statement of cash flows for the year ended December 31, 2013 includes proceeds from the maturity of short-term investments in U.S. Treasury securities of $725 million (included in proceeds from sale, maturity and collection of investments).
The consolidated statement of cash flows for the years ended December 31, 2013, 2012 and 2011 does not reflect $51 million, $33 million and $18 million, respectively, of common stock repurchases that were included in other current liabilities as of December 31, 2013, 2012 and 2011, respectively, for which payment was made in January 2014, 2013 and 2012, respectively.