Stock Analysis on Net
AI Tokens
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: Liabilities and Stockholders’ Equity

Time Warner Cable Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Dec 31, 2015 Dec 31, 2014 Dec 31, 2013 Dec 31, 2012 Dec 31, 2011
Accounts payable 1.33 1.17 1.17 1.31 1.13
Deferred revenue and subscriber-related liabilities 0.45 0.41 0.39 0.37 0.35
Accrued programming and content expense 2.00 1.86 1.80 1.75 1.67
Current maturities of long-term debt 0.01 2.10 3.66 3.05 4.40
Mandatorily redeemable preferred equity issued by a subsidiary 0.00 0.00 0.00 0.60 0.00
Accrued interest 0.98 1.00 1.10 1.18 1.21
Accrued compensation and benefits 0.90 0.82 0.82 0.77 0.75
Accrued insurance 0.46 0.41 0.38 0.34 0.33
Accrued dividends 0.44 0.00 0.00 0.00 0.00
Accrued sales and other taxes 0.30 0.27 0.27 0.20 0.17
Accrued franchise fees 0.29 0.31 0.32 0.34 0.34
Other accrued expenses 0.85 0.92 0.92 0.79 0.78
Other current liabilities 4.22% 3.74% 3.81% 3.61% 3.58%
Current liabilities 8.01% 9.27% 10.83% 10.69% 11.12%
Long-term debt, excluding current maturities 45.65 46.81 48.24 50.54 50.38
Mandatorily redeemable preferred equity issued by a subsidiary 0.00 0.00 0.00 0.00 0.62
Deferred income tax liabilities, net 26.04 25.90 25.06 22.65 21.12
Other liabilities 2.03 1.50 1.49 1.51 1.14
Noncurrent liabilities 73.72% 74.20% 74.78% 74.69% 73.26%
Total liabilities 81.74% 83.47% 85.61% 85.38% 84.39%
Common stock, $0.01 par value 0.01 0.01 0.01 0.01 0.01
Additional paid-in capital 15.18 14.79 14.40 15.21 16.61
Retained earnings (accumulated deficit) 3.91 2.40 -0.11 0.73 0.14
Accumulated other comprehensive income (loss), net -0.84 -0.67 0.09 -1.33 -1.16
Total TWC shareholders’ equity 18.25% 16.52% 14.38% 14.61% 15.60%
Noncontrolling interests 0.01 0.01 0.01 0.01 0.01
Total equity 18.26% 16.53% 14.39% 14.62% 15.61%
Total liabilities and equity 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 capital structure of the entity exhibits a gradual shift from a high-leverage position toward a slightly more equity-funded base between 2011 and 2015. Total liabilities, which peaked at 85.61% of total liabilities and equity in 2013, declined to 81.74% by the end of 2015. Conversely, total equity increased from 15.61% in 2011 to 18.26% in 2015, indicating a modest improvement in the solvency profile over the five-year period.

Long-Term Obligation Trends
Long-term debt, excluding current maturities, represents the most significant component of the balance sheet. This item showed a consistent downward trend, decreasing from 50.38% in 2011 to 45.65% in 2015. In contrast, deferred income tax liabilities, net, increased steadily from 21.12% to 26.04% over the same period, becoming a more prominent portion of the noncurrent liability structure.
Short-Term Liability Dynamics
Total current liabilities experienced a general contraction, falling from 11.12% in 2011 to 8.01% in 2015. A primary driver of this reduction was the sharp decline in current maturities of long-term debt, which dropped from 4.40% in 2011 to a negligible 0.01% by 2015. Other current liabilities remained relatively stable, though they saw a slight increase to 4.22% in 2015. Accrued programming and content expenses showed a marginal but steady increase from 1.67% to 2.00%.
Equity Composition and Retained Earnings
The equity structure is primarily driven by additional paid-in capital, which remained relatively stable around the 14% to 16% range. Retained earnings exhibited significant volatility, moving from 0.14% in 2011 to an accumulated deficit of -0.11% in 2013, before recovering strongly to 3.91% by 2015. This trend suggests a transition toward greater retained profitability in the later years of the period. Accumulated other comprehensive income remained generally negative, fluctuating between -1.33% and 0.09%.
Overall Liability Profile
Noncurrent liabilities remained the dominant force in the financing mix, consistently staying above 73% of total liabilities and equity. While the total liability percentage decreased in the final two years, the internal composition shifted as the reliance on long-term debt decreased and the proportion of deferred tax liabilities grew.

AI Ask an analyst for more

My previous chats

Add tokens

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?