0001193125-15-203028.txt : 20150528 0001193125-15-203028.hdr.sgml : 20150528 20150528094234 ACCESSION NUMBER: 0001193125-15-203028 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20150528 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20150528 DATE AS OF CHANGE: 20150528 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TIME WARNER INC. CENTRAL INDEX KEY: 0001105705 STANDARD INDUSTRIAL CLASSIFICATION: CABLE & OTHER PAY TELEVISION SERVICES [4841] IRS NUMBER: 134099534 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-15062 FILM NUMBER: 15894157 BUSINESS ADDRESS: STREET 1: ONE TIME WARNER CENTER CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 2124848000 MAIL ADDRESS: STREET 1: ONE TIME WARNER CENTER CITY: NEW YORK STATE: NY ZIP: 10019 FORMER COMPANY: FORMER CONFORMED NAME: TIME WARNER INC DATE OF NAME CHANGE: 20031015 FORMER COMPANY: FORMER CONFORMED NAME: AOL TIME WARNER INC DATE OF NAME CHANGE: 20000208 8-K 1 d924592d8k.htm 8-K 8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): May 28, 2015

TIME WARNER INC.

(Exact Name of Registrant as Specified in its Charter)

 

Delaware 1-15062 13-4099534
(State or Other Jurisdiction of (Commission File Number) (IRS Employer
Incorporation) Identification No.)

One Time Warner Center, New York, New York 10019

(Address of Principal Executive Offices) (Zip Code)

212-484-8000

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2 below):

[  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Item 8.01.  Other Events.

Time Warner Inc. is filing this Current Report on Form 8-K to file the computation of its ratio of earnings to fixed charges for the three months ended March 31, 2015 and each of the five years from 2010 through 2014 as an exhibit that is incorporated by reference into its Registration Statement on Form S-3 (File No. 333-186798).

Item 9.01.  Financial Statements and Exhibits.

 

Exhibit

Description

12.1 Computation of ratio of earnings to fixed charges.


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

TIME WARNER INC.

By: /s/ Howard M. Averill                                

       Name: Howard M. Averill

       Title:   Executive Vice President and Chief Financial

                     Officer

Date: May 28, 2015


EXHIBIT INDEX

 

Exhibit

Description

12.1 Computation of ratio of earnings to fixed charges.
EX-12.1 2 d924592dex121.htm EX-12.1 EX-12.1

EXHIBIT 12.1        

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (1)

(Dollars in millions)

 

     Three Months
Ended

March 31,
2015
    Year Ended December 31,  
       2014     2013     2012     2011     2010  
                 (recast)     (recast)     (recast)     (recast)  

Earnings(2):

                                    

 

Net Income from continuing operations before income taxes, discontinued operations and cumulative effect of accounting change

   $ 1,399      $ 4,769      $ 5,008      $ 4,138      $ 3,892      $ 3,525   

Interest expense(3)(4)(5)

     347        1,358        1,287        1,363        1,324        1,279   

Portion of rents representative of an interest factor(6)

     31        151        147        164        148        140   

Adjustment for equity earnings or losses of investee companies that are 50% or less owned on a voting basis, net of cash distributions

     17        77        224        184        92        (35)   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total earnings

$ 1,794    $ 6,355    $ 6,666    $ 5,849    $ 5,456    $ 4,909   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Fixed Charges(2):

 

Interest expense(3)(4)(5)

$ 347    $ 1,358    $ 1,287    $ 1,363    $ 1,324    $ 1,279   

Capitalized interest

  2      6      6      5      4      2   

Portion of rents representative of an interest factor(6)

  31      151      147      164      148      140   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Total fixed charges

$ 380    $ 1,515    $ 1,440    $ 1,532    $ 1,476    $ 1,421   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Ratio of earnings to fixed charges

  4.7   4.2   4.6   3.8   3.7   3.5
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(1)  On June 6, 2014, the Company completed the legal and structural separation of Time Inc. from the Company. Accordingly, the financial information for the years ended December 31, 2013, 2012, 2011 and 2010 has been recast to present the financial position and results of operations of the Company’s former Time Inc. segment as discontinued operations.
(2)  Earnings and fixed charges include 100% of amounts related to unconsolidated subsidiaries for which the Company holds more than 50% of the voting interests.
(3)  Interest expense excludes accrued interest on uncertain tax positions that is included in income tax expense.
(4)  For the three months ended March 31, 2015 and the year ended December 31, 2014, 2013, 2012, 2011, and 2010, amounts include $0 million, $1 million, $2 million, $2 million, $2 million, and $2 million, respectively, related to discontinued operations.
(5)  For both the three months ended March 31, 2015 and the year ended December 31, 2014, amounts include $1 million of interest charges related to guaranteed debt of an equity method investee with a net loss.
(6)  For the three months ended March 31, 2015 and the year ended December 31, 2014, 2013, 2012, 2011, and 2010, amounts include $0 million, $15 million, $35 million, $36 million, $38 million, and $37 million, respectively, related to discontinued operations.