SEC Filings

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


Table of Contents

TIME WARNER INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)

 

                                                                                           
                 June 30, 2017    December 31,
2016

Other Noncurrent Liabilities

           

Noncurrent tax and interest reserves

         $ 1,642      $ 1,567  

Participations payable

           1,805        1,780  

Programming costs payable

           702        827  

Noncurrent pension and post-retirement liabilities

           1,005        954  

Deferred compensation

           494        491  

Other noncurrent liabilities

           649        722  
        

 

 

 

  

 

 

 

Total other noncurrent liabilities

         $             6,297      $             6,341  
        

 

 

 

  

 

 

 

Accounting for Collaborative Arrangements

The Company’s collaborative arrangements primarily relate to arrangements entered into with third parties to jointly finance and distribute theatrical productions and an arrangement entered into with CBS Broadcasting, Inc. (“CBS”) and The National Collegiate Athletic Association (the “NCAA”).

For the Company’s collaborative arrangements entered into with third parties to jointly finance and distribute theatrical productions, net participation costs of $43 million and $45 million were recorded in Costs of revenues for the three months ended June 30, 2017 and 2016, respectively, and $136 million and $118 million were recorded in Costs of revenues for the six months ended June 30, 2017 and 2016, respectively.

The arrangement among Turner, CBS and the NCAA provides Turner and CBS with rights to the NCAA Division I Men’s Basketball Championship Tournament (the “NCAA Tournament”) in the United States and its territories and possessions through 2032. The aggregate rights fee, production costs, advertising revenues and sponsorship revenues related to the NCAA Tournament and related programming are shared by Turner and CBS. However, if the amount paid for the rights fee and production costs, in any given year, exceeds advertising and sponsorship revenues for that year, CBS’ share of such shortfall is limited to specified annual amounts, ranging from approximately $30 million to $45 million.

 

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