Stock Analysis on Net
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Stock Analysis on Net

Time Warner Cable Inc. (NYSE:TWC)

This company has been moved to the archive! The financial data has not been updated since April 28, 2016.

Common-Size Balance Sheet: Assets

Time Warner Cable Inc., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2015 Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011
Cash and equivalents 2.37 1.46 1.09 6.63 10.72
Short-term investments in U.S. Treasury securities 0.00 0.00 0.00 0.30 0.00
Receivables, less allowances 1.86 1.96 1.98 1.77 1.59
Deferred income tax assets 0.00 0.55 0.69 0.64 0.55
Prepaid income taxes 0.31 0.32 0.29 0.05 0.03
Other prepaid expenses 0.41 0.43 0.32 0.33 0.29
Other current assets 0.03 0.05 0.07 0.07 0.07
Other current assets 0.76% 0.81% 0.69% 0.45% 0.39%
Current assets 4.99% 4.78% 4.44% 9.79% 13.25%
Equity-method investments 0.13 0.12 0.11 0.13 1.56
Other investments 0.01 0.01 0.01 0.05 0.05
Investments 0.13% 0.13% 0.12% 0.17% 1.60%
Property, plant and equipment, net 34.39 32.97 31.19 29.60 28.80
Intangible assets subject to amortization, net 0.89 1.08 1.14 1.29 0.47
Intangible assets not subject to amortization 52.79 53.63 53.89 52.22 50.28
Goodwill 6.37 6.47 6.62 5.80 4.65
Other assets 0.44 0.95 2.60 1.13 0.94
Noncurrent asset 95.01% 95.22% 95.56% 90.21% 86.75%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).

The asset composition shows a pronounced shift from current assets toward noncurrent assets between 2011 and 2015. Total current assets decreased from 13.25% of total assets in 2011 to 4.99% by 2015, while noncurrent assets rose from 86.75% to 95.01% over the same period, indicating a significant reduction in relative liquidity and an increase in long-term asset concentration.

Liquidity and Short-Term Asset Trends
A sharp decline in liquidity is observed, primarily driven by cash and equivalents, which fell from 10.72% in 2011 to a low of 1.09% in 2013, before experiencing a slight recovery to 2.37% in 2015. Other current components, such as receivables, remained relatively stable, fluctuating between 1.59% and 1.98% throughout the period. This suggests that the overall contraction in current assets was almost exclusively attributable to the reduction of cash reserves.
Fixed Asset Growth
A consistent upward trend is observed in the proportion of property, plant, and equipment (net), which grew from 28.80% in 2011 to 34.39% in 2015. This steady increase indicates a sustained reallocation of the asset base toward long-term physical infrastructure.
Intangible Assets and Goodwill
The balance sheet is heavily dominated by intangible assets not subject to amortization, which consistently represented over 50% of total assets, peaking at 53.89% in 2013. Additionally, goodwill increased from 4.65% in 2011 to a peak of 6.62% in 2013, before stabilizing at 6.37% in 2015. Together, these non-amortizable intangibles and goodwill constitute the largest portion of the total asset base, remaining relatively stable in their combined weight over the five-year period.
Other Investment Trends
Equity-method investments and other investments showed a significant decline between 2011 and 2012, dropping from a combined 1.61% to 0.22%, and remained negligible through 2015. This reflects a strategic move away from external equity investments toward internal asset growth.

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