SEC Filings

10-Q
TIME WARNER INC. filed this Form 10-Q on 10/26/2017
Entire Document
 


Table of Contents

TIME WARNER INC.

CONSOLIDATED STATEMENT OF CASH FLOWS

Nine Months Ended September 30,

(Unaudited; millions)

 

     2017      2016  

OPERATIONS

     

Net income

   $ 3,856       $ 3,632   

Less Discontinued operations, net of tax

     —         (35)  
  

 

 

    

 

 

 

Net income from continuing operations

     3,856         3,597   

Adjustments for noncash and nonoperating items:

     

Depreciation and amortization

     503         502   

Amortization of film and television costs

     6,381         5,884   

Asset impairments

     11         35   

Gain on investments and other assets, net

     (324)        (75)  

Equity in losses of investee companies, net of cash distributions

     188         293   

Equity-based compensation

     178         201   

Deferred income taxes

     (120)        267   

Changes in operating assets and liabilities, net of acquisitions

     (6,715)        (7,160)  
  

 

 

    

 

 

 

Cash provided by operations from continuing operations

     3,958         3,544   

Cash used by operations from discontinued operations

     (11)        (10)  
  

 

 

    

 

 

 

Cash provided by operations

     3,947         3,534   
  

 

 

    

 

 

 

INVESTING ACTIVITIES

     

Investments in available-for-sale securities

     (1)        (7)  

Investments and acquisitions, net of cash acquired

     (510)        (975)  

Capital expenditures

     (362)        (270)  

Other investment proceeds

     341         253   
  

 

 

    

 

 

 

Cash used by investing activities

     (532)        (999)  
  

 

 

    

 

 

 

FINANCING ACTIVITIES

     

Borrowings

     —         942   

Debt repayments

     (1,396)        (304)  

Proceeds from exercise of stock options

     167         127   

Excess tax benefit from equity instruments

     —         59   

Principal payments on capital leases

     (32)        (11)  

Repurchases of common stock

     —         (2,119)  

Dividends paid

     (948)        (954)  

Other financing activities

     (124)        (122)  
  

 

 

    

 

 

 

Cash used by financing activities

     (2,333)        (2,382)  
  

 

 

    

 

 

 

INCREASE IN CASH AND EQUIVALENTS

     1,082         153   

CASH AND EQUIVALENTS AT BEGINNING OF PERIOD

     1,539         2,155   
  

 

 

    

 

 

 

CASH AND EQUIVALENTS AT END OF PERIOD

   $                 2,621       $                 2,308   
  

 

 

    

 

 

 

See accompanying notes.

 

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