Stock Analysis on Net
Stock Analysis on Net

Time Warner Inc. (NYSE:TWX)

This company has been moved to the archive! The financial data has not been updated since April 26, 2018.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity 
Quarterly Data

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

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Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 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
Accounts payable and accrued liabilities 11.63 11.44 11.66 10.64 10.31 10.90 10.50 9.98 10.42 11.26 12.12 11.13 11.35 11.87 11.18 10.18 10.65 10.77 10.20 10.03 10.34
Deferred revenue 1.45 1.03 1.06 0.99 0.90 0.85 0.88 0.81 0.88 0.96 0.97 0.98 0.85 0.92 0.80 0.74 1.39 1.46 1.32 1.33 1.39
Debt due within one year 5.68 7.87 1.69 1.75 1.23 2.95 0.08 0.08 0.08 0.31 0.32 2.39 2.09 1.77 1.85 0.26 0.10 0.10 0.03 0.48 0.47
Current liabilities 18.76% 20.34% 14.41% 13.37% 12.43% 14.71% 11.46% 10.87% 11.37% 12.53% 13.41% 14.50% 14.30% 14.55% 13.83% 11.18% 12.14% 12.33% 11.54% 11.84% 12.20%
Long-term debt, excluding due within one year 26.57 26.43 32.04 33.05 34.12 33.94 37.13 38.08 37.34 36.95 36.26 35.13 34.04 33.79 33.90 34.73 29.66 29.56 28.81 28.84 28.57
Deferred income taxes 2.63 2.29 3.64 3.93 3.99 4.06 3.96 4.16 4.06 3.84 3.20 3.33 3.42 3.48 2.85 3.16 3.61 3.89 3.78 3.84 3.73
Deferred revenue 0.68 0.68 0.70 0.76 0.75 0.74 0.66 0.62 0.62 0.55 0.47 0.48 0.49 0.50 0.55 0.52 0.67 0.71 0.75 0.78 0.77
Other noncurrent liabilities 8.11 9.21 9.25 9.53 9.92 9.61 9.82 8.97 8.86 9.08 8.88 8.68 8.85 8.99 8.89 10.25 9.87 9.54 10.09 9.79 9.92
Noncurrent liabilities 37.99% 38.61% 45.63% 47.26% 48.79% 48.35% 51.57% 51.83% 50.89% 50.43% 48.81% 47.62% 46.80% 46.76% 46.19% 48.65% 43.81% 43.69% 43.42% 43.25% 43.00%
Total liabilities 56.75% 58.95% 60.05% 60.63% 61.22% 63.06% 63.04% 62.70% 62.26% 62.96% 62.22% 62.12% 61.09% 61.31% 60.01% 59.83% 55.95% 56.02% 54.96% 55.09% 55.20%
Redeemable noncontrolling interest 0.05 0.05 0.05 0.05 0.05 0.04 0.04 0.05 0.05 0.05 0.05 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Common stock, $0.01 par value 0.02 0.02 0.02 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.03 0.02 0.03 0.03 0.03 0.03
Additional paid-in capital 209.86 209.62 212.71 220.39 222.82 222.51 223.58 229.72 233.33 231.86 236.64 234.25 239.28 235.99 237.02 232.32 224.33 225.62 231.22 231.89 230.13
Treasury stock, at cost -68.02 -68.02 -68.97 -71.45 -72.07 -72.00 -72.09 -72.95 -72.90 -71.44 -71.88 -69.21 -69.28 -67.10 -65.87 -62.38 -56.21 -55.34 -55.14 -53.86 -52.43
Accumulated other comprehensive loss, net -1.96 -2.08 -2.03 -2.28 -2.33 -2.29 -2.45 -2.26 -2.36 -2.26 -2.22 -2.20 -2.10 -1.84 -1.33 -1.25 -1.28 -1.25 -1.61 -1.66 -1.58
Accumulated deficit -96.71 -98.55 -101.83 -107.37 -109.72 -111.35 -112.14 -117.29 -120.41 -121.20 -124.83 -124.99 -129.02 -128.38 -129.85 -128.55 -122.80 -125.07 -129.45 -131.49 -131.35
Total Time Warner Inc. shareholders’ equity 43.20% 41.00% 39.90% 39.32% 38.73% 36.89% 36.92% 37.25% 37.69% 36.99% 37.73% 37.88% 38.91% 38.69% 39.99% 40.17% 44.05% 43.98% 45.04% 44.91% 44.80%
Noncontrolling interest 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 0.00 0.00 0.00 0.00 0.00 0.00
Total equity 43.20% 41.00% 39.90% 39.32% 38.73% 36.89% 36.92% 37.25% 37.70% 36.99% 37.73% 37.88% 38.91% 38.69% 39.99% 40.17% 44.05% 43.98% 45.04% 44.91% 44.80%
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: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-K (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30), 10-Q (reporting date: 2016-06-30), 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).

Accounts payable and accrued liabilities
These liabilities as a percentage of total liabilities and equity showed moderate fluctuation over the observation period. From about 10.3% in early 2013, they increased to a peak near 12.1% in late 2015, then declined somewhat before rising again to about 11.6% by early 2018. The trend reflects some variability but generally a moderate share of total liabilities and equity.
Deferred revenue
Deferred revenue percentages display a variable pattern across the periods. Initially around 1.3%, it dropped notably around mid-2014 to below 1%, and subsequently experienced a gradual rise, reaching 1.45% in early 2018. This suggests periods of changing revenue recognition or billing patterns possibly linked to operational activities.
Debt due within one year
Short-term debt remained relatively low and stable, generally below 1% through most periods until late 2017 when it surged abruptly to 7.87% and slightly decreased to 5.68% in the first quarter of 2018. This spike indicates a substantial increase in near-term debt obligations at the end of 2017 and early 2018.
Current liabilities
Current liabilities as a portion of total liabilities and equity hovered around 12% to 14.5% for most of the period, with a considerable increase to over 20% in early 2018. This parallels the spike seen in short-term debt, suggesting a concentrated rise in obligations due within one year during this timeframe.
Long-term debt, excluding due within one year
Long-term debt maintained a range between 28.5% and 38%, generally trending slightly upwards from 2013 to mid-2016, reaching a peak near 38%, then declining sharply to around 26.5% by early 2018. This decline corresponds with the increase in short-term debt, implying a possible reclassification or refinancing of debt from long-term to short-term in the later period.
Deferred income taxes
Deferred income taxes showed minor variation, initially close to 3.7% and peaking near 4.2% in 2016 before decreasing to approximately 2.6% in early 2018. This indicates moderate fluctuations in tax-related liabilities over time.
Other noncurrent liabilities
These liabilities remained relatively stable, fluctuating between 8% and 10% of total liabilities and equity, without any significant trend or volatility, ending the period near 8.1%.
Noncurrent liabilities
Noncurrent liabilities collectively accounted for about 43% to just under 52% during most of the period but fell significantly to approximately 38% by early 2018. This drop largely aligns with the decline in long-term debt, suggesting a reduction or reallocation of longer-term obligations.
Total liabilities
The total liabilities proportion rose from about 55% in 2013 to a peak near 63% in 2016, then steadily declined to around 56.8% in early 2018. The overall pattern indicates increasing reliance on liabilities until mid-period, followed by a moderate deleveraging towards the end.
Redeemable noncontrolling interest
This component appeared from late 2014 onward, consistently comprising around 0.04% to 0.05%, indicating a minimal and steady noncontrolling interest.
Common stock, $0.01 par value
The share of common stock relative to total liabilities and equity remained nearly constant at approximately 0.02% to 0.03%, reflecting stable capital structure in terms of par value.
Additional paid-in capital
This equity component held a very high percentage relative to total liabilities and equity, mostly around 220% to 240%. Despite some fluctuations, it gradually decreased from around 231% in early 2013 to about 210% by early 2018, suggesting some reduction in paid-in capital relative to overall financing.
Treasury stock, at cost
Treasury stock, presented as a negative balance, increased in absolute value over time, moving from approximately -52% to about -68%, indicating ongoing repurchases or retention of treasury shares which reduced equity.
Accumulated other comprehensive loss, net
This loss item fluctuated mildly around -1.5% to -2.4%, showing an increasing absolute value until 2016 and then a slight recovery trend heading towards -2.0% by early 2018, indicating volatile but contained comprehensive losses.
Accumulated deficit
The accumulated deficit showed a steady reduction in magnitude, moving from approximately -131% in early 2013 to about -97% by early 2018. This improvement reflects a gradual reduction in accumulated losses over the period.
Total Time Warner Inc. shareholders’ equity
Shareholders’ equity as a percentage of total liabilities and equity declined from roughly 45% in 2013 to a low near 36.9% in late 2015 and 2016, before recovering to 43.2% by early 2018. This trend indicates a period of equity contraction followed by partial restoration towards the end of the timeline.
Noncontrolling interest
Noncontrolling interest was consistently negligible or zero throughout the period.
Total equity
Total equity mirrored the pattern of shareholders’ equity, exhibiting a decline mid-period with recovery later, moving from about 44.8% to a low near 36.9% and rising to 43.2% by the first quarter of 2018.
Total liabilities and equity
By definition, this metric remains constant at 100% for all periods analyzed.
Overall observations
The data reveal a financial structure characterized by moderate fluctuations in current liabilities with a notable spike in short-term debt late in the period, counterbalanced by a decline in long-term debt and noncurrent liabilities. Equity components contracted during mid-period years but showed a recovery trend approaching 2018. Treasury stock accumulation and accumulated deficit reduction indicate active equity management. The overall liability-to-equity balance points to a dynamic approach to financing, with shifting debt maturities and adjustments in capital structure likely in response to operational or market conditions.