Name: Time Warner Inc. (NYSE:TWX) | Balance Sheet: Assets
Creator: Stock Analysis on Net

Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Assets: Selected Items

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Current Assets: Selected Items

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Time Warner Inc., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013
Cash and equivalents	2,621)	1,539)	2,155)	2,618)	1,862)
Receivables, less allowances	9,401)	8,699)	7,411)	7,720)	7,868)
Inventories	2,401)	2,062)	1,753)	1,700)	2,028)
Deferred income taxes	—)	—)	—)	184)	447)
Prepaid expenses and other current assets	796)	1,185)	1,194)	958)	639)
Current assets	15,219)	13,485)	12,513)	13,180)	12,844)
Noncurrent inventories	1,644)	1,747)	1,577)	1,779)	2,035)
Theatrical film and television production costs	6,631)	6,169)	6,023)	5,062)	4,664)
Noncurrent inventories and theatrical film and television production costs	8,275)	7,916)	7,600)	6,841)	6,699)
Equity-method investments	2,669)	2,347)	1,363)	898)	947)
Fair-value and other investments	1,026)	773)	826)	926)	742)
Held-to-maturity securities	—)	—)	268)	239)	—)
Cost-method investments	229)	217)	160)	263)	335)
Investments, including available-for-sale securities	3,924)	3,337)	2,617)	2,326)	2,024)
Property, plant and equipment, net	2,707)	2,510)	2,596)	2,655)	3,825)
Intangible assets subject to amortization, net	585)	783)	949)	1,141)	1,920)
Intangible assets not subject to amortization	7,006)	7,005)	7,029)	7,032)	7,629)
Goodwill	27,776)	27,752)	27,689)	27,565)	30,563)
Other assets	3,717)	3,178)	2,855)	2,519)	2,490)
Noncurrent assets	53,990)	52,481)	51,335)	50,079)	55,150)
Total assets	69,209)	65,966)	63,848)	63,259)	67,994)

Based on: 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31).

Total assets experienced a slight contraction between 2013 and 2014, decreasing from 67,994 million USD to 63,259 million USD, before entering a period of steady growth to reach 69,209 million USD by December 31, 2017. This overall trend reflects a gradual expansion of the balance sheet, driven primarily by increases in current assets and strategic investments.

Current Asset Trends: Current assets grew from 12,844 million USD in 2013 to 15,219 million USD in 2017. The primary driver of this increase was the growth in receivables, which rose from 7,868 million USD to 9,401 million USD over the period. Cash and equivalents showed volatility, peaking in 2014 and 2017, while inventories trended upward toward the end of the period, reaching 2,401 million USD in 2017.
Content and Production Investment: There is a consistent upward trend in theatrical film and television production costs, which increased from 4,664 million USD in 2013 to 6,631 million USD in 2017. Combined with noncurrent inventories, these content-related assets grew from 6,699 million USD to 8,275 million USD, indicating sustained capital allocation toward content creation and long-term production pipelines.
Investment Portfolio Evolution: Strategic investments showed significant expansion. Equity-method investments grew from 947 million USD in 2013 to 2,669 million USD in 2017. Total investments, including available-for-sale securities, followed a similar trajectory, increasing from 2,024 million USD to 3,924 million USD, suggesting a shift toward increased ownership or participation in external entities.
Intangible Assets and Goodwill: Goodwill represents the most substantial portion of the asset base; after a decrease from 30,563 million USD in 2013 to 27,565 million USD in 2014, it remained remarkably stable, ending at 27,776 million USD in 2017. In contrast, intangible assets subject to amortization declined sharply from 1,920 million USD in 2013 to 585 million USD in 2017, while intangible assets not subject to amortization remained nearly constant at approximately 7,000 million USD.
Fixed Asset Trajectory: Property, plant and equipment, net, exhibited a general downward trend, falling from 3,825 million USD in 2013 to a low of 2,510 million USD in 2016, before a slight recovery to 2,707 million USD in 2017. This suggests a reduction in the net book value of physical assets relative to the growth in intangible and financial assets.

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