TIME WARNER CABLE INC. (TWC) SEC Filing 10-K Annual report for the fiscal year ending Thursday, December 31, 2015

View amendments to this 10-K report filed on 4/28/2016
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Exhibit 99.1

TIME WARNER CABLE REPORTS

2015 FOURTH-QUARTER AND FULL-YEAR RESULTS

Record Full-Year Subscriber Performance, Including

Best Ever Customer Relationship Net Additions

First Full-Year Positive Video Subscriber Net Additions Since 2006

Accelerated Fourth-Quarter Revenue Growth of 4.9%

***

NEW YORK, January 28, 2016 – Time Warner Cable Inc. (NYSE: TWC) today reported financial results for its fourth quarter and full year ended December 31, 2015.

Time Warner Cable Chairman and CEO Rob Marcus said: “I’m incredibly proud of everything we achieved this quarter and in 2015. We made our network more reliable, our products more compelling and our customer service better. And, importantly, our subscriber improvement over the last eight quarters, including our record subscriber performance in 2015, has begun to show up in our financial results. As we begin 2016, we intend to continue to improve the customer experience and build value for our shareholders.”

SELECTED CONSOLIDATED FINANCIAL RESULTS

 

 

 

                                                                                                                       
(in millions, except per share data;    4th Quarter      Full Year  
unaudited)           Change                    Change  
     2015      2014      $      %      2015      2014      $      %  

Revenue

   $ 6,072       $ 5,790       $ 282         4.9%       $ 23,697       $ 22,812       $ 885         3.9%   

Adjusted OIBDA(a)

   $ 2,132       $ 2,140       $ (8)         (0.4%)       $ 8,138       $ 8,228       $ (90)         (1.1%)   

Operating Income(b)

   $ 1,125       $ 1,226       $ (101)         (8.2%)       $ 4,239       $ 4,632       $ (393)         (8.5%)   

Diluted EPS(c)

   $ 1.70       $ 1.95       $ (0.25)         (12.8%)       $ 6.44       $ 7.17       $ (0.73)         (10.2%)   

Adjusted Diluted EPS(a)

   $ 1.80       $ 2.03       $ (0.23)         (11.3%)       $ 6.62       $ 7.56       $ (0.94)         (12.4%)   

Cash provided by operating activities(b)

   $ 1,833       $ 1,810       $ 23         1.3%       $ 6,539       $ 6,350       $ 189         3.0%   

Capital expenditures

   $ 946       $ 918       $ 28         3.1%       $ 4,446       $ 4,097       $ 349         8.5%   

Free Cash Flow(a)(b)

   $ 883       $ 891       $ (8)         (0.9%)       $ 2,171       $ 2,347       $ (176)         (7.5%)   

 

 

(a)  Refer to Note 5 to the accompanying consolidated financial statements for definitions of Adjusted OIBDA, Adjusted Diluted EPS and Free Cash Flow and below for reconciliations.
(b)  Operating Income is reduced by merger-related and restructuring costs of $51 million and $38 million for the fourth quarters of 2015 and 2014, respectively, and $203 million and $225 million for the year ended December 31, 2015 and 2014, respectively. Cash provided by operating activities and Free Cash Flow are reduced by merger-related and restructuring payments of $26 million and $19 million for the fourth quarters of 2015 and 2014, respectively, and $181 million and $128 million for the year ended December 31, 2015 and 2014, respectively.
(c)  Diluted EPS represents net income per diluted common share attributable to TWC common shareholders.


The following information was filed by TIME WARNER CABLE INC. on Thursday, January 28, 2016 as an 8K 2.02 statement, which is a press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K statement of earnings and operation as management may choose to highlight particular information in the press release.

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  • Form Type: Annual
  • Number of times amended: 1
  • Accession Number: 0001193125-16-461316
  • Submitted to the SEC: Friday, February 12, 2016
  • Accepted by the SEC: Friday, February 12, 2016
  • Period Ending: December 2015
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