Time Magazine 2014 Annual Report Download - page 66
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TIME WARNER INC.
CONSOLIDATED BALANCE SHEET
(millions, except share amounts)
December 31,
2014
December 31,
2013
(recast)
ASSETS
Current assets
Cash and equivalents ...................................................... $ 2,618 $ 1,816
Receivables, less allowances of $1,152 and $1,383 .............................. 7,720 7,305
Inventories .............................................................. 1,700 1,648
Deferred income taxes ..................................................... 184 369
Prepaid expenses and other current assets ...................................... 958 559
Current assets of discontinued operations ...................................... - 834
Total current assets ........................................................ 13,180 12,531
Noncurrent inventories and theatrical film and television production costs ............ 6,841 7,016
Investments, including available-for-sale securities .............................. 2,326 2,009
Property, plant and equipment, net ........................................... 2,655 3,291
Intangible assets subject to amortization, net ................................... 1,141 1,338
Intangible assets not subject to amortization .................................... 7,032 7,043
Goodwill ................................................................ 27,565 27,401
Other assets ............................................................. 2,519 2,458
Noncurrent assets of discontinued operations ................................... - 4,912
Total assets .............................................................. $ 63,259 $ 67,999
LIABILITIES AND EQUITY
Current liabilities
Accounts payable and accrued liabilities ....................................... $ 7,507 $ 6,754
Deferred revenue ......................................................... 579 542
Debt due within one year ................................................... 1,118 66
Current liabilities of discontinued operations ................................... - 1,026
Total current liabilities ..................................................... 9,204 8,388
Long-term debt ........................................................... 21,376 20,061
Deferred income taxes ..................................................... 2,204 2,287
Deferred revenue ......................................................... 315 351
Other noncurrent liabilities ................................................. 5,684 6,324
Noncurrent liabilities of discontinued operations ................................ - 684
Commitments and Contingencies (Note 16)
Equity
Common stock, $0.01 par value, 1.652 billion and 1.652 billion shares
issued and 832 million and 895 million shares outstanding ...................... 17 17
Additional paid-in capital ................................................... 149,282 153,410
Treasury stock, at cost (820 million and 757 million shares) ....................... (42,445) (37,630)
Accumulated other comprehensive loss, net .................................... (1,164) (852)
Accumulated deficit ....................................................... (81,214) (85,041)
Total Time Warner Inc. shareholders’ equity ................................... 24,476 29,904
Noncontrolling interests .................................................... - -
Total equity ............................................................. 24,476 29,904
Total liabilities and equity .................................................. $ 63,259 $ 67,999
See accompanying notes.
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