SEC Filings

8-K
TIME WARNER INC. filed this Form 8-K on 11/29/2016
Entire Document
 
Form 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): November 29, 2016

TIME WARNER INC.

(Exact Name of Registrant as Specified in its Charter)

 

Delaware   1-15062   13-4099534

(State or Other Jurisdiction of

Incorporation)

  (Commission File Number)  

(IRS Employer

Identification No.)

One Time Warner Center, New York, New York 10019

(Address of Principal Executive Offices) (Zip Code)

212-484-8000

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):

[  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Item 8.01. Other Events.

Time Warner Inc. is filing this Current Report on Form 8-K to file the computation of its ratio of earnings to fixed charges for the nine months ended September 30, 2016 and each of the five years from 2011 through 2015 as an exhibit that is incorporated by reference in the Registration Statement on Form S-3 (File No. 333-209704).

Item 9.01. Financial Statements and Exhibits.

 

Exhibit

  

Description

12.1

   Computation of ratio of earnings to fixed charges


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

TIME WARNER INC.

 

By:    /s/ Edward B. Ruggiero                
  Name:    Edward B. Ruggiero
  Title:   Senior Vice President & Treasurer

Date: November 29, 2016


EXHIBIT INDEX

 

Exhibit

  

Description

12.1

   Computation of ratio of earnings to fixed charges
EX-12.1

EXHIBIT 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

 

    Nine Months
Ended
September 30, 2016
       

Year Ended December 31,

 

            2015                 2014                 2013                 2012                 2011          

Earnings(1):

                       

Net Income from continuing operations before income taxes, discontinued operations and cumulative effect of accounting change

  $ 4,844        $     5,527        $     4,769        $     5,008        $     4,138        $     3,892     

Interest expense(2)(3)(4)

    1,069          1,395          1,358          1,287          1,363          1,324     

Amortization of capitalized interest

    2          -            -            -            -            -       

Portion of rents representative of an interest factor(5)

    84          133          151          147          164          148     

Adjustment for equity earnings or losses of investee companies that are 50% or less owned on a voting basis, net of cash distributions

    57          27          77          224          184          92     
 

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

   

Total earnings

  $ 6,056        $ 7,082        $ 6,355        $ 6,666        $ 5,849        $ 5,456     
 

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

   

Fixed Charges(1):

                       

Interest expense(2)(3)(4)

  $ 1,069        $ 1,395        $ 1,358        $ 1,287        $ 1,363        $ 1,324     

Capitalized interest

    22          10          6          6          5          4     

Portion of rents representative of an interest factor(5)

    84          133          151          147          164          148     
 

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

   

Total fixed charges

  $ 1,175        $ 1,538        $ 1,515        $ 1,440        $ 1,532        $ 1,476     
 

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

   

Ratio of earnings to fixed charges

    5.2      x     4.6      x     4.2      x     4.6      x     3.8      x     3.7      x
 

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

   

 

 

 

(1)  Earnings and fixed charges include 100% of amounts related to unconsolidated subsidiaries for which the Company holds more than 50% of the voting interests.
(2)  Interest expense excludes accrued interest on uncertain tax positions that is included in income tax expense.
(3)  For the nine months ended September 30, 2016 and the year ended December 31, 2015, 2014, 2013, 2012 and 2011, amounts include $0 million, $0 million, $1 million, $2 million, $2 million and $2 million, respectively, related to discontinued operations.
(4)  For the nine months ended September 30, 2016 and the year ended December 31, 2015 and 2014, amounts include $21 million, $10 million, and $1 million, respectively, of interest charges related to guaranteed debt of an equity method investee with a net loss.
(5)  For the nine months ended September 30, 2016 and the year ended December 31, 2015, 2014, 2013, 2012 and 2011, amounts include $0 million, $0 million, $15 million, $35 million, $36 million and $38 million, respectively, related to discontinued operations.