TIME INC. (TIME) financial statements (2021 and earlier)

Company profile

Business Address 225 LIBERTY STREET
NEW YORK, NY 10281
State of Incorp. DE
Fiscal Year End December 31
SIC 2721 - Periodicals: Publishing, or Publishing and Printing (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

Current Assets
Cash, cash equivalents, and short-term investments336711519
Cash and cash equivalents296651519
Short-term investments4060 
Inventory, net of allowances, customer advances and progress billings313548
Prepaid expense57119 
Deferred tax assets  84
Other undisclosed current assets5366115
Total current assets:1,0201,4171,256
Noncurrent Assets
Property, plant and equipment304267369
Long-term investments and receivables  25
Long-term investments  25
Intangible assets, net (including goodwill)2,9152,0384,202
Intangible assets, net (excluding goodwill)846 1,085
Other noncurrent assets6611673
Deferred tax assets, net  3
Other undisclosed noncurrent assets 1,046(28)
Total noncurrent assets:3,2853,4674,644
TOTAL ASSETS:4,3054,8845,900
Current Liabilities
Accounts payable and accrued liabilities, including:598683621
Accounts payable 265246
Employee-related liabilities 117154
Taxes payable 1937
Interest and dividends payable 811
Other undisclosed accounts payable and accrued liabilities598274173
Restructuring reserve  76
Due to related parties  1
Deferred revenue and credits403436458
Deferred tax liabilities  1
Other liabilities  34
Other undisclosed current liabilities  (112)
Total current liabilities:1,0081,1261,086
Noncurrent Liabilities
Long-term debt and lease obligation1,2331,2861,368
Long-term debt, excluding current maturities1,2331,2861,368
Liabilities, other than long-term debt624663684
Deferred revenue and credits868994
Accounts payable and accrued liabilities  42
Deferred compensation liability, classified  29
Deferred tax liabilities, net210242313
Liability, pension and other postretirement and postemployment benefits  12
Restructuring reserve  26
Other liabilities328332168
Total noncurrent liabilities:1,8571,9492,052
Total liabilities:2,8653,0753,138
Stockholders' equity
Stockholders' equity attributable to parent1,4401,8092,871
Common stock111
Additional paid in capital12,54812,60412,665
Accumulated other comprehensive loss(377)(226)(169)
Accumulated deficit(10,732)(10,570)(9,626)
Total stockholders' equity:1,4401,8092,871
Other undisclosed liabilities and equity  (109)

Income statement (P&L) ($ in millions)

Revenue, net3,0763,1033,281
Cost of revenue
(Cost of Goods and Services Sold)
Gross profit:1,7611,9522,073
Operating expenses(1,530)(2,775)(1,807)
Other undisclosed operating loss(229) (86)
Operating income (loss):2(823)180
Nonoperating expense(13)(2)(4)
Investment income, nonoperating5 2
Other nonoperating expense(18)(2)(6)
Interest and debt expense(70)(77)(51)
Income (loss) from continuing operations before equity method investments, income taxes:(81)(902)125
Income from equity method investments  12
Other undisclosed loss from continuing operations before income taxes  (14)
Income (loss) from continuing operations before income taxes:(81)(902)123
Income tax expense (benefit)3321(36)
Net income (loss) available to common stockholders, basic:(48)(881)87
Other undisclosed net income (loss) available to common stockholders, diluted(0) 0
Net income (loss) available to common stockholders, diluted:(48)(881)87

Comprehensive Income ($ in millions)

Net income (loss):(48)(881)87
Other comprehensive loss(76)(21)(11)
Comprehensive income (loss):(124)(902)76
Other undisclosed comprehensive loss, net of tax, attributable to parent(75)(36)(42)
Comprehensive income (loss), net of tax, attributable to parent:(199)(938)34

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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