SEC Filings

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


Table of Contents

TIME WARNER INC.

SUPPLEMENTARY INFORMATION

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS – (Continued)

 

Consolidating Statement of Cash Flows

For The Six Months Ended June 30, 2017

(Unaudited; millions)

 

                                                                                                                                 
     Parent
Company
  Guarantor
Subsidiaries
  Non-
Guarantor

Subsidiaries
  Eliminations   Time
Warner
Consolidated

OPERATIONS

          

Net income

   $ 2,485     $ 2,738     $ 2,571     $ (5,309   $ 2,485  

Less Discontinued operations, net of tax

                              
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income from continuing operations

     2,485       2,738       2,571       (5,309     2,485  

Adjustments for noncash and nonoperating items:

          

Depreciation and amortization

     5       55       274             334  

Amortization of film and television costs

           1,354       3,224       (23     4,555  

Asset impairments

                 2             2  

Gain on investments and other assets, net

     (42     (44     (225           (311

Excess (deficiency) of distributions over equity in pretax income of
consolidated subsidiaries, net of cash distributions

     (4,045     (2,443     (1,059     7,547        

Equity in losses of investee companies, net of cash distributions

     9             106             115  

Equity-based compensation

     34       44       45             123  

Deferred income taxes

     (23     (112     (56     168       (23

Changes in operating assets and liabilities, net of acquisitions

     294       (127     (2,602     (2,384     (4,819

Intercompany

           1,180       (1,180            
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash provided by operations from continuing operations

     (1,283     2,645       1,100       (1     2,461  

Cash used by operations from discontinued operations

     (1           (7           (8
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash provided by operations

     (1,284     2,645       1,093       (1     2,453  
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INVESTING ACTIVITIES

          

Investments and acquisitions, net of cash acquired

     (34     (9     (317           (360

Capital expenditures

           (63     (139           (202

Advances to (from) parent and consolidated subsidiaries

     2,990       711             (3,701      

Other investment proceeds

     26       67       243             336  
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash used by investing activities

     2,982       706       (213     (3,701     (226
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCING ACTIVITIES

          

Debt repayments

     (1,396                       (1,396

Proceeds from exercise of stock options

     100                         100  

Principal payments on capital leases

           (6     (5           (11

Dividends paid

     (632                       (632

Other financing activities

     34       (20     (137     1       (122

Change in due to/from parent and investment in segment

           (3,222     (479     3,701        
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash used by financing activities

     (1,894     (3,248     (621     3,702       (2,061
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INCREASE IN CASH AND EQUIVALENTS

     (196     103       259             166  

CASH AND EQUIVALENTS AT BEGINNING OF PERIOD

     617       91       831             1,539  
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CASH AND EQUIVALENTS AT END OF PERIOD

   $             421     $         194     $             1,090     $             —     $             1,705  
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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