0001193125-16-578904.txt : 20160505 0001193125-16-578904.hdr.sgml : 20160505 20160505090637 ACCESSION NUMBER: 0001193125-16-578904 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20160505 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20160505 DATE AS OF CHANGE: 20160505 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: 161621815 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 d180913d8k.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 5, 2016

 

 

TIME WARNER INC.

(Exact Name of Registrant as Specified in its Charter)

 

 

 

Delaware   1-15062   13-4099534

(State or Other Jurisdiction of

Incorporation)

   (Commission File Number)  

(IRS Employer

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, 2016 and each of the five years from 2011 through 2015 as an exhibit that is incorporated by reference into its Registration Statement on Form S-3 (File No. 333-209704).

 

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 5, 2016

EXHIBIT INDEX

 

Exhibit

   

Description

12.1    Computation of ratio of earnings to fixed charges.
 EX-12.1 2 d180913dex121.htm EX-12.1 EX-12.1

EXHIBIT 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Dollars in millions)

 

                                                                                                                 
    Three Months
Ended
March 31, 2016		    

Year Ended December 31,

  
      2015     2014     2013     2012     2011  

Earnings(1):

            

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

   $ 1,691      $ 5,527      $ 4,769      $ 5,008      $ 4,138      $ 3,892   

Interest expense(2)(3)(4)

     350        1,395        1,358        1,287        1,363        1,324   

Amortization of capitalized interest

     1        —          —          —          —          —     

Portion of rents representative of an interest factor(5)

     28        133        151        147        164        148   

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

     5        27        77        224        184        92   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total earnings

   $ 2,075      $ 7,082      $ 6,355      $ 6,666      $ 5,849      $ 5,456   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Fixed Charges(1):

            

Interest expense(2)(3)(4)

   $ 350      $ 1,395      $ 1,358      $ 1,287      $ 1,363      $ 1,324   

Capitalized interest

     6        10        6        6        5        4   

Portion of rents representative of an interest factor(5)

     28        133        151        147        164        148   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total fixed charges

   $ 384      $ 1,538      $ 1,515      $ 1,440      $ 1,532      $ 1,476   
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

Ratio of earnings to fixed charges

    5.4  x      4.6  x      4.2  x      4.6  x      3.8  x      3.7  x 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

 

(1) Earnings and fixed charges include 100% of amounts related to unconsolidated subsidiaries for which the Company holds more than 50% of the voting interests.
(2) Interest expense excludes accrued interest on uncertain tax positions that is included in income tax expense.
(3) For the three months ended March 31, 2016 and the year ended December 31, 2015, 2014, 2013, 2012 and 2011, amounts include $0 million,
   $0 million, $1 million, $2 million, $2 million and $2 million, respectively, related to discontinued operations.
(4) For the three months ended March 31, 2016 and the year ended December 31, 2015 and 2014, amounts include $2 million, $10 million, and
   $1 million, respectively, of interest charges related to guaranteed debt of an equity method investee with a net loss.
(5) For the three months ended March 31, 2016 and the year ended December 31, 2015, 2014, 2013, 2012 and 2011, amounts include $0 million,
   $0 million, $15 million, $35 million, $36 million and $38 million, respectively, related to discontinued operations.