Stock Analysis on Net
Stock Analysis on Net

Time Warner Inc. (NYSE:TWX)

$22.49

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

Balance Sheet: Liabilities and Stockholders’ Equity

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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Time Warner Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

Microsoft Excel
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
Accounts payable
Other accrued expenses
Participations payable
Programming costs payable
Accrued compensation
Accrued interest
Accrued dividends
Accrued income taxes
Accounts payable and accrued liabilities
Deferred revenue
Debt due within one year
Current liabilities
Long-term debt, excluding due within one year
Deferred income taxes
Deferred revenue
Noncurrent tax and interest reserves
Participations payable
Programming costs payable
Noncurrent pension and post-retirement liabilities
Deferred compensation
Other noncurrent liabilities
Other noncurrent liabilities
Noncurrent liabilities
Total liabilities
Redeemable noncontrolling interest
Common stock, $0.01 par value
Additional paid-in capital
Treasury stock, at cost
Accumulated other comprehensive loss, net
Accumulated deficit
Total Time Warner Inc. shareholders’ equity
Noncontrolling interest
Total equity
Total liabilities and equity

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).

Accounts payable and accrued expenses
Accounts payable decreased from 693 million in 2013 to 527 million in 2016, before rising to 777 million in 2017. Other accrued expenses peaked in 2014 at 2,173 million and then steadily declined to 1,778 million by 2017. Participations payable showed an upward trend, rising from 2,302 million in 2013 to 2,737 million in 2017.
Programming costs payable
Programming costs payable remained relatively stable, fluctuating slightly around the 700 million mark, with a low of 706 million in 2013 and a close value of 728 million in 2017.
Accrued compensation and interest
Accrued compensation declined from 1,224 million in 2013 to 957 million in 2015, but then increased again to 1,192 million in 2017. Accrued interest showed a gradual decrease over the period, dropping from 313 million in 2013 to 251 million in 2017.
Accrued dividends and income taxes
Accrued dividends appeared only in 2017 at 319 million. Accrued income taxes remained fairly stable, fluctuating between 134 million and 162 million throughout the period.
Overall current liabilities
Current liabilities rose significantly over the analyzed period, starting at 8,383 million in 2013 and almost doubling to 14,077 million by 2017. This increase was mainly driven by a substantial rise in debt due within one year, from 66 million in 2013 to 5,450 million in 2017, despite fluctuations in other current liability categories.
Long-term debt and deferred taxes
Long-term debt, excluding amounts due within one year, increased from 20,099 million in 2013 to a peak of 23,594 million in 2015, but then declined notably to 18,294 million in 2017. Deferred income taxes decreased from 2,642 million in 2013 to 1,584 million in 2017, showing a downward trend.
Noncurrent liabilities
Noncurrent liabilities showed a peak in 2015 at 32,198 million and then decreased steadily to 26,721 million in 2017. Various subcategories such as noncurrent tax and interest reserves, participations payable, programming costs payable, and pension liabilities presented mixed trends, but overall contributed to the reduction in noncurrent liabilities.
Total liabilities
Total liabilities increased moderately from 38,090 million in 2013 to a peak of 41,600 million in 2016, then slightly decreased to 40,798 million in 2017, reflecting changes mainly in current and noncurrent liabilities.
Shareholders’ equity
Total shareholders’ equity declined from 29,904 million in 2013 to 23,619 million in 2015, then recovered somewhat to 28,375 million in 2017. The accumulated deficit steadily decreased in magnitude (improvement) from -85,041 million in 2013 to -68,208 million in 2017. Additional paid-in capital consistently declined from 153,410 million to 145,077 million, while treasury stock at cost increased in absolute value, indicating greater stock repurchases or holdings.
Accumulated other comprehensive loss and noncontrolling interest
The accumulated other comprehensive loss progressively increased in negative value, peaking at -1,510 million in 2016 with a slight recovery to -1,437 million in 2017. Noncontrolling interest was negligible and introduced only in 2016 and 2017 at very low levels.
Total equity and total liabilities and equity
Total equity trends mirrored shareholders’ equity, decreasing initially and partially rebounding by 2017. Overall, total liabilities and equity increased from 67,994 million in 2013 to 69,209 million in 2017, indicating growth in the company's financial scale despite fluctuations within components.