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Microsoft Excel LibreOffice Calc

Time Warner Inc. (NYSE:TWX)


Adjustments to Financial Statements

Advanced level


Adjustments to Current Assets

Time Warner Inc., adjusted current assets

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
As Reported
Current assets 15,219  13,485  12,513  13,180  12,844 
Adjustments
Add: Allowance for doubtful accounts 162  193  180  152  261 
Less: Current deferred tax assets1 —  —  —  184  447 
After Adjustment
Adjusted current assets 15,381  13,678  12,693  13,148  12,658 

Based on: 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-26), 10-K (filing date: 2014-02-26).

1 Current deferred tax assets. See details »


Adjustments to Total Assets

Time Warner Inc., adjusted total assets

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
As Reported
Total assets 69,209  65,966  63,848  63,259  67,994 
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 976  1,016  1,083  1,262  1,600 
Add: Allowance for doubtful accounts 162  193  180  152  261 
Less: Current deferred tax assets2 —  —  —  184  447 
Less: Noncurrent deferred tax assets3 111  125  134  —  — 
After Adjustment
Adjusted total assets 70,236  67,050  64,977  64,489  69,408 

Based on: 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-26), 10-K (filing date: 2014-02-26).

1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

2 Current deferred tax assets. See details »

3 Noncurrent deferred tax assets. See details »


Adjustments to Current Liabilities

Time Warner Inc., adjusted current liabilities

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
As Reported
Current liabilities 14,077  9,703  8,002  9,204  8,383 
Adjustments
Less: Current deferred revenue 711  564  616  579  995 
Less: Current accrued restructuring and severance costs 119  114  213  392  144 
After Adjustment
Adjusted current liabilities 13,247  9,025  7,173  8,233  7,244 

Based on: 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-26), 10-K (filing date: 2014-02-26).


Adjustments to Total Liabilities

Time Warner Inc., adjusted total liabilities

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
As Reported
Total liabilities 40,798  41,600  40,200  38,783  38,090 
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1 976  1,016  1,083  1,262  1,600 
Less: Noncurrent deferred tax liabilities2 1,584  2,678  2,454  2,204  2,642 
Less: Deferred revenue 1,179  1,050  968  894  1,477 
Less: Accrued restructuring and severance costs 197  171  253  534  244 
After Adjustment
Adjusted total liabilities 38,814  38,717  37,608  36,413  35,327 

Based on: 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-26), 10-K (filing date: 2014-02-26).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Noncurrent deferred tax liabilities. See details »


Adjustments to Stockholders’ Equity

Time Warner Inc., adjusted total Time Warner Inc. shareholders’ equity

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
As Reported
Total Time Warner Inc. shareholders’ equity 28,375  24,335  23,619  24,476  29,904 
Adjustments
Less: Net deferred tax asset (liability)1 (1,473) (2,553) (2,320) (2,020) (2,195)
Add: Allowance for doubtful accounts 162  193  180  152  261 
Add: Deferred revenue 1,179  1,050  968  894  1,477 
Add: Accrued restructuring and severance costs 197  171  253  534  244 
Add: Redeemable noncontrolling interest 35  29  29  —  — 
Add: Noncontrolling interest —  —  — 
After Adjustment
Adjusted total equity 31,422  28,333  27,369  28,076  34,081 

Based on: 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-26), 10-K (filing date: 2014-02-26).

1 Net deferred tax asset (liability). See details »


Adjustments to Capitalization Table

Time Warner Inc., adjusted capitalization table

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
As Reported
Debt due within one year 5,450  1,947  198  1,118  66 
Long-term debt, excluding due within one year 18,294  22,392  23,594  21,376  20,099 
Total reported debt 23,744  24,339  23,792  22,494  20,165 
Total Time Warner Inc. shareholders’ equity 28,375  24,335  23,619  24,476  29,904 
Total reported capital 52,119  48,674  47,411  46,970  50,069 
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1 976  1,016  1,083  1,262  1,600 
Adjusted total debt 24,720  25,355  24,875  23,756  21,765 
Adjustments to Equity
Less: Net deferred tax asset (liability)2 (1,473) (2,553) (2,320) (2,020) (2,195)
Add: Allowance for doubtful accounts 162  193  180  152  261 
Add: Deferred revenue 1,179  1,050  968  894  1,477 
Add: Accrued restructuring and severance costs 197  171  253  534  244 
Add: Redeemable noncontrolling interest 35  29  29  —  — 
Add: Noncontrolling interest —  —  — 
Adjusted total equity 31,422  28,333  27,369  28,076  34,081 
After Adjustment
Adjusted total capital 56,142  53,688  52,244  51,832  55,846 

Based on: 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-26), 10-K (filing date: 2014-02-26).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Net deferred tax asset (liability). See details »


Adjustments to Revenues

Time Warner Inc., adjusted revenues

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
As Reported
Revenues 31,271  29,318  28,118  27,359  29,795 
Adjustment
Add: Increase (decrease) in deferred revenue 129  82  74  (57)
After Adjustment
Adjusted revenues 31,400  29,400  28,192  27,360  29,738 

Based on: 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-26), 10-K (filing date: 2014-02-26).


Adjustments to Reported Income

Time Warner Inc., adjusted net income attributable to Time Warner Inc. shareholders

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
As Reported
Net income attributable to Time Warner Inc. shareholders 5,247  3,926  3,833  3,827  3,691 
Adjustments
Add: Deferred income tax expense (benefit)1 (1,010) 236  328  166  759 
Add: Increase (decrease) in allowance for doubtful accounts (31) 13  28  (39) (23)
Add: Increase (decrease) in deferred revenue 129  82  74  (57)
Add: Increase (decrease) in accrued restructuring and severance costs 26  (82) (281) 348  78 
Less: Discontinued operations, net of tax —  11  37  (67) 137 
Add: Other comprehensive income (loss) 73  (64) (282) (416) 137 
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest (3) (1) (1) —  — 
After Adjustment
Adjusted net income 4,431  4,099  3,662  3,954  4,448 

Based on: 10-K (filing date: 2018-02-22), 10-K (filing date: 2017-02-23), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-26), 10-K (filing date: 2014-02-26).

1 Deferred income tax expense (benefit). See details »