SEC Filings

S-4/A
TIME WARNER INC. filed this Form S-4/A on 03/24/2000
Entire Document
 
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                              AOL TIME WARNER INC.
 
                 PRO FORMA CONSOLIDATED CONDENSED BALANCE SHEET
                                
                             December 31, 1999     
                            (in millions, unaudited)
 

<TABLE>   
<CAPTION>
                                                                        AOL
                                             Time      Pro Forma    Time Warner
                                   AOL(a)  Warner(b) Adjustments(c)  Pro Forma
                                   ------- --------- -------------- -----------
<S>                                <C>     <C>       <C>            <C>
ASSETS
Cash and equivalents.............. $ 2,535  $ 1,284     $    --      $  3,819
Other current assets..............   1,281    8,577          --         9,858
                                   -------  -------     --------     --------
  Total current assets............   3,816    9,861          --        13,677
Noncurrent inventories............     --     4,201          --         4,201
Investments.......................   4,902    2,096          --         6,998
Property, plant and equipment,
 net..............................     890    8,728          --         9,618
Goodwill and other intangibles,
 net..............................     409   24,712      174,278      199,399
Other assets......................     284    1,641          --         1,925
                                   -------  -------     --------     --------
  Total assets.................... $10,301  $51,239     $174,278     $235,818
                                   =======  =======     ========     ========
 
LIABILITIES AND SHAREHOLDERS' EQUITY
Total current liabilities......... $ 2,162  $ 9,670     $    300     $ 12,132
Long-term debt and other
 obligations(/1/).................   1,586   19,901          --        21,487
Deferred income taxes.............      10    4,234       34,765       39,009
Other long-term liabilities.......     292    4,535          --         4,827
Minority interests................     --     3,186          --         3,186
 
Shareholders' Equity
Preferred stock...................     --         1          --             1
Series LMCN-V common stock........     --         1          --             1
Common stock......................      23       12            6           41
Paid-in capital...................   4,165   12,998      135,908      153,071
Accumulated earnings (deficit)....     596   (3,350)       3,350          596
Accumulated other comprehensive
 income...........................   1,467       51          (51)       1,467
                                   -------  -------     --------     --------
  Total shareholders' equity......   6,251    9,713      139,213      155,177
                                   -------  -------     --------     --------
  Total liabilities and
   shareholders' equity........... $10,301  $51,239     $174,278     $235,818
                                   =======  =======     ========     ========
</TABLE>
    
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(/1/)For Time Warner, includes $1.243 billion of borrowings against future
     stock option proceeds and $575 million of mandatorily redeemable preferred
     securities of subsidiaries.     
 
                            See accompanying notes.
 
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