SEC Filings

8-K
TIME WARNER INC. filed this Form 8-K on 10/26/2017
Entire Document
 


TIME WARNER INC.

CONSOLIDATED STATEMENT OF OPERATIONS

(Unaudited; millions, except per share amounts)

 

     Three Months Ended September 30,     Nine Months Ended September 30,  
     2017     2016     2017     2016  

Revenues

   $ 7,595     $ 7,167     $ 22,660     $ 21,427  

Costs of revenues

     (3,928     (3,873     (12,466     (11,718

Selling, general and administrative

     (1,378     (1,179     (4,080     (3,688

Amortization of intangible assets

     (45     (48     (136     (143

Restructuring and severance costs

     (3     (11     (23     (64

Asset impairments

     (9     (30     (11     (35

Gain (loss) on operating assets, net

     13       (12     69       77  
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating income

     2,245       2,014       6,013       5,856  

Interest expense, net

     (254     (298     (762     (874

Other income (loss), net

     (70     (27     77       (198
  

 

 

   

 

 

   

 

 

   

 

 

 

Income from continuing operations before income taxes

     1,921       1,689       5,328       4,784  

Income tax provision

     (550     (217     (1,472     (1,187
  

 

 

   

 

 

   

 

 

   

 

 

 

Income from continuing operations

     1,371       1,472       3,856       3,597  

Discontinued operations, net of tax

           (5           35  
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income

     1,371       1,467       3,856       3,632  

Less Net loss attributable to noncontrolling interests

     1             2       1  
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income attributable to Time Warner Inc. shareholders

   $ 1,372     $ 1,467     $ 3,858     $ 3,633  
  

 

 

   

 

 

   

 

 

   

 

 

 

Amounts attributable to Time Warner Inc. shareholders:

        

Income from continuing operations

   $ 1,372     $ 1,472     $ 3,858     $ 3,598  

Discontinued operations, net of tax

           (5           35  
  

 

 

   

 

 

   

 

 

   

 

 

 

Net income

   $ 1,372     $ 1,467     $ 3,858     $ 3,633  
  

 

 

   

 

 

   

 

 

   

 

 

 

Per share information attributable to Time Warner Inc. common shareholders:

        

Basic income per common share from continuing operations

   $ 1.76     $ 1.89     $ 4.95     $ 4.58  

Discontinued operations

                       0.04  
  

 

 

   

 

 

   

 

 

   

 

 

 

Basic net income per common share

   $ 1.76     $ 1.89     $ 4.95     $ 4.62  
  

 

 

   

 

 

   

 

 

   

 

 

 

Average basic common shares outstanding

     778.0       776.2       775.8       783.8  
  

 

 

   

 

 

   

 

 

   

 

 

 

Diluted income per common share from continuing operations

   $ 1.73     $ 1.87     $ 4.88     $ 4.53  

Discontinued operations

           (0.01           0.04  
  

 

 

   

 

 

   

 

 

   

 

 

 

Diluted net income per common share

   $ 1.73     $ 1.86     $ 4.88     $ 4.57  
  

 

 

   

 

 

   

 

 

   

 

 

 

Average diluted common shares outstanding

     791.7       787.5       790.3       795.1  
  

 

 

   

 

 

   

 

 

   

 

 

 

Cash dividends declared per share of common stock

   $ 0.4025     $ 0.4025     $ 1.6100     $ 1.2075  
  

 

 

   

 

 

   

 

 

   

 

 

 

See accompanying notes.

 

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