SEC Filings

10-Q
TIME WARNER INC. filed this Form 10-Q on 08/02/2017
Entire Document
 


Table of Contents

TIME WARNER INC.

CONSOLIDATED STATEMENT OF OPERATIONS

(Unaudited; millions, except per share amounts)

 

     Three Months Ended June 30,   Six Months Ended June 30,
     2017   2016   2017   2016

Revenues

   $ 7,330     $ 6,952     $ 15,065     $ 14,260  

Costs of revenues

     (4,205     (3,840     (8,538     (7,845

Selling, general and administrative

     (1,427     (1,258     (2,702     (2,509

Amortization of intangible assets

     (46     (47     (91     (95

Restructuring and severance costs

     (8     (48     (20     (53

Asset impairments

     (1     (2     (2     (5

Gain on operating assets, net

     49       89       56       89  
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income

     1,692       1,846       3,768       3,842  

Interest expense, net

     (249     (292     (508     (576

Other income (loss), net

     71       (131     147       (171
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations before income taxes

     1,514       1,423       3,407       3,095  

Income tax provision

     (452     (472     (922     (970
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

     1,062       951       2,485       2,125  

Discontinued operations, net of tax

                       40  
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

     1,062       951       2,485       2,165  

Less Net loss attributable to noncontrolling interests

           1       1       1  
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to Time Warner Inc. shareholders

   $ 1,062     $ 952     $ 2,486     $ 2,166  
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amounts attributable to Time Warner Inc.
shareholders:

        

Income from continuing operations

   $ 1,062     $ 952     $ 2,486     $ 2,126  

Discontinued operations, net of tax

                       40  
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

   $ 1,062     $ 952     $ 2,486     $ 2,166  
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Per share information attributable to Time Warner
Inc. common shareholders:

        

Basic income per common share from continuing
operations

   $ 1.37     $ 1.21     $ 3.20     $ 2.69  

Discontinued operations

                       0.05  
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic net income per common share

   $ 1.37     $ 1.21     $ 3.20     $ 2.74  
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average basic common shares outstanding

     775.8       784.5       774.7       787.6  
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted income per common share from continuing
operations

   $ 1.34     $ 1.20     $ 3.15     $ 2.66  

Discontinued operations

                       0.05  
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Diluted net income per common share

   $ 1.34     $ 1.20     $ 3.15     $ 2.71  
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Average diluted common shares outstanding

     790.0       795.4       789.7       798.8  
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash dividends declared per share of common stock

   $           0.8050     $           0.4025     $           1.2075     $           0.8050  
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

See accompanying notes.

 

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