SEC Filings

8-K
TIME WARNER INC. filed this Form 8-K on 08/02/2017
Entire Document
 


TIME WARNER INC.

CONSOLIDATED STATEMENT OF CASH FLOWS

Six Months Ended June 30,

(Unaudited; millions)

 

                                                   
     2017     

2016

 OPERATIONS

     

 Net income

   $ 2,485       $                2,165 

 Less Discontinued operations, net of tax

     —       (40)
  

 

 

    

 

 Net income from continuing operations

     2,485       2,125 

 Adjustments for noncash and nonoperating items:

     

 Depreciation and amortization

     334       336 

 Amortization of film and television costs

     4,555       4,158 

 Asset impairments

         

 Gain on investments and other assets, net

     (311)      (30)

 Equity in losses of investee companies, net of cash distributions

     115       223 

 Equity-based compensation

     123       156 

 Deferred income taxes

     (23)      249 

 Changes in operating assets and liabilities, net of acquisitions

     (4,819)      (5,249)
  

 

 

    

 

 Cash provided by operations from continuing operations

     2,461       1,973 

 Cash used by operations from discontinued operations

     (8)      (7)
  

 

 

    

 

 Cash provided by operations

     2,453       1,966 
  

 

 

    

 

 INVESTING ACTIVITIES

     

 Investments in available-for-sale securities

     —       (7)

 Investments and acquisitions, net of cash acquired

     (360)      (286)

 Capital expenditures

     (202)      (162)

 Other investment proceeds

     336       241 
  

 

 

    

 

 Cash used by investing activities

     (226)      (214)
  

 

 

    

 

 FINANCING ACTIVITIES

     

 Borrowings

     —       942 

 Debt repayments

     (1,396)      (304)

 Proceeds from exercise of stock options

     100       81 

 Excess tax benefit from equity instruments

     —       40 

 Principal payments on capital leases

     (11)      (7)

 Repurchases of common stock

     —       (1,407)

 Dividends paid

     (632)      (640)

 Other financing activities

     (122)      (116)
  

 

 

    

 

 Cash used by financing activities

     (2,061)      (1,411)
  

 

 

    

 

 INCREASE IN CASH AND EQUIVALENTS

     166       341 

 CASH AND EQUIVALENTS AT BEGINNING OF PERIOD

     1,539       2,155 
  

 

 

    

 

 CASH AND EQUIVALENTS AT END OF PERIOD

   $ 1,705       $                2,496 
  

 

 

    

 

See accompanying notes.

 

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