SEC Filings

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


Table of Contents

TIME WARNER INC.

SUPPLEMENTARY INFORMATION

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS – (Continued)

 

Consolidating Statement of Cash Flows

For The Nine Months Ended September 30, 2017

(Unaudited; millions)

 

                                                                                                                                      
     Parent
    Company    
    Guarantor
  Subsidiaries  
    Non-
Guarantor
  Subsidiaries  
      Eliminations       Time
Warner
  Consolidated  
 

OPERATIONS

          

Net income

   $ 3,856      $ 4,309      $ 4,039      $ (8,348)     $ 3,856   

Less Discontinued operations, net of tax

     —        —        —        —        —   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Net income from continuing operations

     3,856        4,309        4,039        (8,348)       3,856   

Adjustments for noncash and nonoperating items:

          

Depreciation and amortization

           84        411        —        503   

Amortization of film and television costs

     —        1,997        4,418        (34)       6,381   

Asset impairments

     —        —        11        —        11   

Gain on investments and other assets, net

     (37)       (45)       (242)       —        (324)  

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

     (6,285)       (4,026)       (1,567)       11,878        —   

Equity in losses of investee companies, net of cash distributions

     11        —        177        —        188   

Equity-based compensation

     48        65        65        —        178   

Deferred income taxes

     (120)       (160)       (61)       221        (120)  

Changes in operating assets and liabilities, net of acquisitions

     710        2,022        (5,725)       (3,722)       (6,715)  

Intercompany

     —        (34)       34        —        —   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Cash provided by operations from continuing operations

     (1,809)       4,212        1,560        (5)       3,958   

Cash used by operations from discontinued operations

     (1)       —        (10)       —        (11)  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Cash provided by operations

     (1,810)       4,212        1,550        (5)       3,947   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

INVESTING ACTIVITIES

          

Investments in available-for-sale securities

     (1)       —        —        —        (1)  

Investments and acquisitions, net of cash acquired

     (42)       (24)       (444)       —        (510)  

Capital expenditures

     (1)       (82)       (279)       —        (362)  

Advances to (from) parent and consolidated subsidiaries

     4,543        716        —        (5,259)       —   

Other investment proceeds

     28        69        244        —        341   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Cash used by investing activities

     4,527        679        (479)       (5,259)       (532)  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

FINANCING ACTIVITIES

          

Debt repayments

     (1,396)       —        —        —        (1,396)  

Proceeds from exercise of stock options

     167        —        —        —        167   

Principal payments on capital leases

     —        (22)       (10)       —        (32)  

Dividends paid

     (948)       —        —        —        (948)  

Other financing activities

     37        (21)       (141)             (124)  

Change in due to/from parent and investment in segment

     —        (4,869)       (394)       5,263        —   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Cash used by financing activities

     (2,140)       (4,912)       (545)       5,264        (2,333)  
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

INCREASE IN CASH AND EQUIVALENTS

     577        (21)       526        —        1,082   

CASH AND EQUIVALENTS AT BEGINNING OF PERIOD

     617        91        831        —        1,539   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

CASH AND EQUIVALENTS AT END OF PERIOD

   $ 1,194      $ 70      $ 1,357      $ —      $ 2,621   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

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