SEC Filings

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


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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