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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
Quarterly Data

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

Microsoft Excel
Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013 Dec 31, 2012 Sep 30, 2012 Jun 30, 2012 Mar 31, 2012 Dec 31, 2011 Sep 30, 2011 Jun 30, 2011 Mar 31, 2011
Accounts payable 1.25 1.33 0.99 1.01 0.92 1.17 0.95 1.17 0.91 1.17 0.99 1.06 1.04 1.31 0.91 0.80 0.71 1.13 0.69 0.65 0.64
Deferred revenue and subscriber-related liabilities 0.49 0.45 0.44 0.44 0.43 0.41 0.40 0.40 0.39 0.39 0.40 0.40 0.38 0.37 0.38 0.37 0.41 0.35 0.35 0.39 0.40
Accrued programming and content expense 2.13 2.00 1.97 1.98 2.01 1.86 1.85 1.85 1.85 1.80 1.89 1.80 1.82 1.75 1.75 1.77 1.76 1.67 1.71 1.80 1.80
Current maturities of long-term debt 0.01 0.01 0.01 0.65 1.34 2.10 3.17 3.43 6.23 3.66 3.73 6.66 4.61 3.05 3.75 3.71 5.06 4.40 3.69 0.57 0.00
Mandatorily redeemable preferred equity issued by a subsidiary 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.61 0.61 0.60 0.60 0.00 0.00 0.00 0.00 0.00 0.00
Other current liabilities 3.86 4.22 4.31 4.41 3.91 3.74 3.95 4.04 3.65 3.81 3.45 3.70 3.46 3.61 3.66 3.66 3.38 3.58 3.22 3.43 3.28
Current liabilities 7.74% 8.01% 7.72% 8.50% 8.61% 9.27% 10.32% 10.88% 13.02% 10.83% 10.47% 14.23% 11.92% 10.69% 11.05% 10.32% 11.33% 11.12% 9.65% 6.84% 6.13%
Long-term debt, excluding current maturities 45.20 45.65 46.57 46.50 46.84 46.81 46.80 47.29 46.37 48.24 49.04 46.95 49.19 50.54 50.29 50.83 49.38 50.38 51.34 52.11 51.12
Mandatorily redeemable preferred equity issued by a subsidiary 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.60 0.61 0.62 0.62 0.65 0.66
Deferred income tax liabilities, net 26.11 26.04 26.04 26.01 26.10 25.90 25.15 25.10 24.62 25.06 24.70 23.44 23.14 22.65 22.49 22.20 22.36 21.12 21.17 21.74 21.91
Other liabilities 2.13 2.03 1.71 1.58 1.60 1.50 1.47 1.42 1.55 1.49 1.74 1.75 1.68 1.51 0.97 1.31 1.05 1.14 1.31 1.11 1.03
Noncurrent liabilities 73.44% 73.72% 74.32% 74.09% 74.54% 74.20% 73.42% 73.82% 72.54% 74.78% 75.48% 72.13% 74.00% 74.69% 73.74% 74.93% 73.41% 73.26% 74.44% 75.62% 74.74%
Total liabilities 81.18% 81.74% 82.04% 82.59% 83.15% 83.47% 83.74% 84.70% 85.56% 85.61% 85.95% 86.37% 85.92% 85.38% 84.79% 85.25% 84.73% 84.39% 84.09% 82.47% 80.86%
Common stock, $0.01 par value 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
Additional paid-in capital 15.25 15.18 15.25 15.07 15.07 14.79 14.58 14.32 13.91 14.40 14.88 14.76 15.18 15.21 15.39 15.76 16.16 16.61 17.24 18.80 20.05
Retained earnings (accumulated deficit) 4.43 3.91 3.40 2.94 2.46 2.40 1.69 1.11 0.52 -0.11 0.25 0.09 0.18 0.73 0.88 0.16 0.20 0.14 -0.58 -0.59 -0.30
Accumulated other comprehensive income (loss), net -0.87 -0.84 -0.71 -0.61 -0.70 -0.67 -0.03 -0.15 0.00 0.09 -1.09 -1.22 -1.30 -1.33 -1.08 -1.19 -1.12 -1.16 -0.77 -0.69 -0.64
Total TWC shareholders’ equity 18.81% 18.25% 17.95% 17.40% 16.84% 16.52% 16.25% 15.29% 14.43% 14.38% 14.05% 13.63% 14.07% 14.61% 15.19% 14.73% 15.25% 15.60% 15.89% 17.52% 19.12%
Noncontrolling interests 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.02 0.02 0.02 0.01 0.01 0.02 0.02
Total equity 18.82% 18.26% 17.96% 17.41% 16.85% 16.53% 16.26% 15.30% 14.44% 14.39% 14.05% 13.63% 14.08% 14.62% 15.21% 14.75% 15.27% 15.61% 15.91% 17.53% 19.14%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31), 10-K (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-Q (reporting date: 2011-03-31).

The capital structure of the organization exhibits a cyclical trend in leverage, characterized by an initial increase in total liabilities that peaked in mid-2013, followed by a gradual deleveraging process through early 2016. Total liabilities rose from 80.86% of total liabilities and equity in March 2011 to a peak of 86.37% in June 2013, before declining to 81.18% by March 2016. Correspondingly, total equity experienced a trough of 13.63% in June 2013 and recovered to 18.82% by the end of the analyzed period.

Long-Term Debt and Noncurrent Liabilities
Long-term debt, excluding current maturities, represents the most significant component of the balance sheet. It remained relatively stable but showed a gradual downward trajectory, decreasing from 51.12% in March 2011 to 45.20% in March 2016. In contrast, deferred income tax liabilities exhibited a consistent upward trend, increasing from 21.91% to 26.11% over the same period, thereby increasing the relative weight of tax-related obligations within the noncurrent liability structure.
Current Liability Dynamics
Current liabilities displayed notable volatility, particularly driven by the current maturities of long-term debt. This specific item peaked at 6.66% in June 2013 before declining sharply to 0.01% by September 2015, suggesting a strategic repayment or refinancing of short-term debt obligations. Other current liabilities remained relatively stable, generally fluctuating between 3.2% and 4.4% of the total structure.
Equity Composition and Retention
A significant shift is observable in the components of shareholders' equity. Additional paid-in capital declined from 20.05% in March 2011 to 15.25% in March 2016. Simultaneously, retained earnings transitioned from a deficit of -0.30% in March 2011 to a positive 4.43% by March 2016. This pattern indicates a transition from a reliance on contributed capital toward the accumulation of organic earnings to support the equity base.
Operating Liabilities
Accrued programming and content expenses remained a consistent liability, hovering between 1.67% and 2.13%, reflecting the stable nature of core operational obligations. Accounts payable showed a slight increase over the long term, moving from 0.64% in March 2011 to 1.25% in March 2016, while deferred revenue and subscriber-related liabilities remained marginal and stable, typically below 0.50%.

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