Consolidating Statement of Cash Flows for the Year Ended December 31, 2013 | |||||||||||||||||||||
Non- | |||||||||||||||||||||
Parent | Guarantor | Guarantor | TWC | ||||||||||||||||||
Company | Subsidiary | Subsidiaries | Eliminations | Consolidated | |||||||||||||||||
Cash provided (used) by operating activities | $ | (188) | $ | (595) | $ | 6,536 | $ | — | $ | 5,753 | |||||||||||
INVESTING ACTIVITIES | |||||||||||||||||||||
Capital expenditures | — | — | (3,198) | — | (3,198) | ||||||||||||||||
Business acquisitions, net of cash acquired | — | (429) | 6 | — | (423) | ||||||||||||||||
Purchases of investments | (575) | (13) | — | — | (588) | ||||||||||||||||
Return of capital from investees | — | 9 | — | — | 9 | ||||||||||||||||
Proceeds from sale, maturity and collection of | |||||||||||||||||||||
investments | 726 | — | — | — | 726 | ||||||||||||||||
Acquisition of intangible assets | — | (3) | (37) | — | (40) | ||||||||||||||||
Other investing activities | — | — | 38 | — | 38 | ||||||||||||||||
Cash provided (used) by investing activities | 151 | (436) | (3,191) | — | (3,476) | ||||||||||||||||
FINANCING ACTIVITIES | |||||||||||||||||||||
Repayments of long-term debt | (1,500) | — | — | — | (1,500) | ||||||||||||||||
Repayments of long-term debt assumed in | |||||||||||||||||||||
acquisitions | — | — | (138) | — | (138) | ||||||||||||||||
Redemption of mandatorily redeemable | |||||||||||||||||||||
preferred equity | — | (300) | — | — | (300) | ||||||||||||||||
Repurchases of common stock | (2,509) | — | — | — | (2,509) | ||||||||||||||||
Dividends paid | (758) | — | — | — | (758) | ||||||||||||||||
Proceeds from exercise of stock options | 138 | — | — | — | 138 | ||||||||||||||||
Excess tax benefit from equity-based | |||||||||||||||||||||
compensation | 92 | — | 1 | — | 93 | ||||||||||||||||
Taxes paid in cash in lieu of shares issued for | |||||||||||||||||||||
equity-based compensation | — | — | (68) | — | (68) | ||||||||||||||||
Net change in investments in and amounts | |||||||||||||||||||||
due to and from consolidated subsidiaries | 2,725 | 1,331 | (4,056) | — | — | ||||||||||||||||
Other financing activities | (9) | — | (5) | — | (14) | ||||||||||||||||
Cash provided (used) by financing activities | (1,821) | 1,031 | (4,266) | — | (5,056) | ||||||||||||||||
Decrease in cash and equivalents | (1,858) | — | (921) | — | (2,779) | ||||||||||||||||
Cash and equivalents at beginning of year | 2,174 | — | 1,130 | — | 3,304 | ||||||||||||||||
Cash and equivalents at end of year | $ | 316 | $ | — | $ | 209 | $ | — | $ | 525 |
Consolidating Statement of Cash Flows for the Year Ended December 31, 2012 | |||||||||||||||||||||
Non- | |||||||||||||||||||||
Parent | Guarantor | Guarantor | TWC | ||||||||||||||||||
Company | Subsidiary | Subsidiaries | Eliminations | Consolidated | |||||||||||||||||
(recast) | |||||||||||||||||||||
Cash provided (used) by operating activities | $ | (191) | $ | (603) | $ | 6,319 | $ | — | $ | 5,525 | |||||||||||
INVESTING ACTIVITIES | |||||||||||||||||||||
Capital expenditures | — | — | (3,095) | — | (3,095) | ||||||||||||||||
Business acquisitions, net of cash acquired | (1,350) | — | 10 | — | (1,340) | ||||||||||||||||
Purchases of investments | (150) | (17) | (40) | — | (207) | ||||||||||||||||
Return of capital from investees | — | 1,112 | 88 | — | 1,200 | ||||||||||||||||
Proceeds from sale, maturity and collection of | |||||||||||||||||||||
investments | — | 64 | 40 | — | 104 | ||||||||||||||||
Acquisition of intangibles | (3) | — | (34) | — | (37) | ||||||||||||||||
Investments in (distributions and sale | |||||||||||||||||||||
proceeds from) consolidated subsidiaries | (33) | — | (392) | 425 | — | ||||||||||||||||
Other investing activities | — | — | 30 | — | 30 | ||||||||||||||||
Cash provided (used) by investing activities | (1,536) | 1,159 | (3,393) | 425 | (3,345) | ||||||||||||||||
FINANCING ACTIVITIES | |||||||||||||||||||||
Short-term borrowings, net | 392 | — | — | (392) | — | ||||||||||||||||
Proceeds from issuance of long-term debt | 2,258 | — | — | — | 2,258 | ||||||||||||||||
Repayments of long-term debt | (1,500) | (600) | — | — | (2,100) | ||||||||||||||||
Repayments of long-term debt assumed in | |||||||||||||||||||||
acquisitions | — | — | (1,730) | — | (1,730) | ||||||||||||||||
Debt issuance costs | (26) | — | — | — | (26) | ||||||||||||||||
Repurchases of common stock | (1,850) | — | — | — | (1,850) | ||||||||||||||||
Dividends paid | (700) | — | — | — | (700) | ||||||||||||||||
Proceeds from exercise of stock options | 140 | — | — | — | 140 | ||||||||||||||||
Excess tax benefit from equity-based | |||||||||||||||||||||
compensation | 62 | — | 19 | — | 81 | ||||||||||||||||
Taxes paid in cash in lieu of shares issued for | |||||||||||||||||||||
equity-based compensation | — | — | (45) | — | (45) | ||||||||||||||||
Acquisition of noncontrolling interest | — | — | (32) | — | (32) | ||||||||||||||||
Net change in investments in and amounts | |||||||||||||||||||||
due to and from consolidated subsidiaries | 769 | 44 | (780) | (33) | — | ||||||||||||||||
Other financing activities | (16) | — | (33) | — | (49) | ||||||||||||||||
Cash used by financing activities | (471) | (556) | (2,601) | (425) | (4,053) | ||||||||||||||||
Increase (decrease) in cash and equivalents | (2,198) | — | 325 | — | (1,873) | ||||||||||||||||
Cash and equivalents at beginning of year | 4,372 | — | 805 | — | 5,177 | ||||||||||||||||
Cash and equivalents at end of year | $ | 2,174 | $ | — | $ | 1,130 | $ | — | $ | 3,304 |
Consolidating Statement of Cash Flows for the Year Ended December 31, 2011 | |||||||||||||||||||||
Non- | |||||||||||||||||||||
Parent | Guarantor | Guarantor | TWC | ||||||||||||||||||
Company | Subsidiary | Subsidiaries | Eliminations | Consolidated | |||||||||||||||||
(recast) | |||||||||||||||||||||
Cash provided (used) by operating activities | $ | (51) | $ | (319) | $ | 6,058 | $ | — | $ | 5,688 | |||||||||||
INVESTING ACTIVITIES | |||||||||||||||||||||
Capital expenditures | (1) | — | (2,936) | — | (2,937) | ||||||||||||||||
Business acquisitions, net of cash acquired | (267) | — | (294) | — | (561) | ||||||||||||||||
Purchases of investments | — | (20) | (4) | — | (24) | ||||||||||||||||
Return of capital from investees | — | — | 3 | — | 3 | ||||||||||||||||
Proceeds from sale, maturity and collection of | |||||||||||||||||||||
investments | 5 | — | — | — | 5 | ||||||||||||||||
Acquisition of intangibles | — | — | (47) | — | (47) | ||||||||||||||||
Investments in (distributions and sale | |||||||||||||||||||||
proceeds from) consolidated subsidiaries | — | — | (1,619) | 1,619 | — | ||||||||||||||||
Other investing activities | 14 | — | 17 | — | 31 | ||||||||||||||||
Cash used by investing activities | (249) | (20) | (4,880) | 1,619 | (3,530) | ||||||||||||||||
FINANCING ACTIVITIES | |||||||||||||||||||||
Short-term repayments, net | 1,619 | — | — | (1,619) | — | ||||||||||||||||
Proceeds from issuance of long-term debt | 3,227 | — | — | — | 3,227 | ||||||||||||||||
Repayments of long-term debt assumed in | |||||||||||||||||||||
acquisitions | — | — | (44) | — | (44) | ||||||||||||||||
Debt issuance costs | (25) | — | — | — | (25) | ||||||||||||||||
Repurchases of common stock | (2,657) | — | — | — | (2,657) | ||||||||||||||||
Dividends paid | (642) | — | — | — | (642) | ||||||||||||||||
Proceeds from exercise of stock options | 114 | — | — | — | 114 | ||||||||||||||||
Excess tax benefit from equity-based | |||||||||||||||||||||
compensation | — | — | 48 | — | 48 | ||||||||||||||||
Taxes paid in cash in lieu of shares issued for | |||||||||||||||||||||
equity-based compensation | — | — | (29) | — | (29) | ||||||||||||||||
Net change in investments in and amounts | |||||||||||||||||||||
due to and from consolidated subsidiaries | 109 | 339 | (448) | — | — | ||||||||||||||||
Other financing activities | (14) | — | (6) | — | (20) | ||||||||||||||||
Cash provided (used) by financing activities | 1,731 | 339 | (479) | (1,619) | (28) | ||||||||||||||||
Increase in cash and equivalents | 1,431 | — | 699 | — | 2,130 | ||||||||||||||||
Cash and equivalents at beginning of year | 2,941 | — | 106 | — | 3,047 | ||||||||||||||||
Cash and equivalents at end of year | $ | 4,372 | $ | — | $ | 805 | $ | — | $ | 5,177 |