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 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

     2       5  

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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