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, 2016

(Unaudited; millions)

 

                                                                                                                                 
     Parent
Company
  Guarantor
Subsidiaries
  Non-
Guarantor

Subsidiaries
  Eliminations   Time
Warner
Consolidated

OPERATIONS

          

Net income

   $ 2,165     $ 2,788     $ 2,465     $ (5,253   $ 2,165  

Less Discontinued operations, net of tax

     (40     (40     (40     80       (40
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income from continuing operations

     2,125       2,748       2,425       (5,173     2,125  

Adjustments for noncash and nonoperating items:

          

Depreciation and amortization

     5       53       278             336  

Amortization of film and television costs

           1,431       2,743       (16     4,158  

Asset impairments

     4             1             5  

Gain on investments and other assets, net

     11       1       (42           (30

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

     (3,921     (2,642     (929     7,492        

Equity in losses of investee companies, net of cash distributions

     (4           226       1       223  

Equity-based compensation

     55       46       55             156  

Deferred income taxes

     249       167       168       (335     249  

Changes in operating assets and liabilities, net of acquisitions

     43       (783     (2,538     (1,971     (5,249

Intercompany

           1,535       (1,535            
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash provided by operations from continuing operations

     (1,433     2,556       852       (2     1,973  

Cash used by operations from discontinued operations

                 (7           (7
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash provided by operations

     (1,433     2,556       845       (2     1,966  
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INVESTING ACTIVITIES

          

Investments in available-for-sale securities

     (2           (5           (7

Investments and acquisitions, net of cash acquired

     (21     (14     (251           (286

Capital expenditures

     (8     (29     (125           (162

Advances to (from) parent and consolidated subsidiaries

     3,296       235             (3,531      

Other investment proceeds

     17       17       207             241  
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash used by investing activities

     3,282       209       (174     (3,531     (214
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCING ACTIVITIES

          

Borrowings

     940             2             942  

Debt repayments

     (150     (150     (4           (304

Proceeds from exercise of stock options

     81                         81  

Excess tax benefit from equity instruments

     40                         40  

Principal payments on capital leases

           (7                 (7

Repurchases of common stock

     (1,407                       (1,407

Dividends paid

     (640                       (640

Other financing activities

     123       (35     (205     1       (116

Change in due to/from parent and investment in segment

           (2,691     (841     3,532        
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash used by financing activities

     (1,013     (2,883     (1,048     3,533       (1,411
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INCREASE IN CASH AND EQUIVALENTS

     836       (118     (377           341  

CASH AND EQUIVALENTS AT BEGINNING OF PERIOD

     976       288       891             2,155  
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

CASH AND EQUIVALENTS AT END OF PERIOD

   $             1,812     $             170     $             514     $             —     $             2,496  
  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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