Analysis: Deferred Assets and Liabilities, Net

Entity Registrant Name TIME WARNER CABLE INC.
CIK 0001377013
Accession number 0001193125-14-056642
Link to XBRL instance http://www.sec.gov/Archives/edgar/data/1377013/000119312514056642/twc-20131231.xml
Fiscal year end --12-31
Fiscal year focus 2013
Fiscal period focus FY
Current balance sheet date 2013-12-31
Current year-to-date income statement start date 2013-01-01
Commentary Conforms with all rules.
Level 3 Text Block concept us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock

Significant components of TWC's deferred income tax liabilities, net, as of December 31, 2013 and 2012 consisted of the following (in millions):

 

                 December 31,
              2013 2012
Cable franchise rights and customer relationships, net(a)$ (7,979) $ (7,675)
Property, plant and equipment  (4,157)   (4,081)
Other   (328)   (17)
 Deferred income tax liabilities  (12,464)   (11,773)
Net operating loss carryforwards(b)  202   322
Tax credit carryforwards(b)  32   36
Other  494   470
Valuation allowances(c)  (28)   (18)
 Deferred income tax assets  700   810
 Deferred income tax liabilities, net(d)$ (11,764) $ (10,963)

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  • Cable franchise rights and customer relationships, net, includes deferred income tax assets of approximately $170 million as of December 31, 2012 (none as of December 31, 2013) that relate to intangible assets for which the tax basis exceeds the book basis primarily as a result of the impairment recorded in 2008. Such deferred income tax assets are expected to be realized as the Company receives tax deductions from the amortization, for tax purposes, of the intangible assets.
  • Net operating loss and tax credit carryforwards expire in varying amounts through 2033. Aside from certain state tax credit carryforwards for which a valuation allowance has been established, the Company does not expect these carryforwards to expire unutilized.
  • The Company's valuation allowance for deferred income tax assets recorded as of December 31, 2013 and 2012, primarily relates to certain state tax credit carryforwards. The valuation allowance is based upon the Company's assessment that it is more likely than not that a portion of the deferred income tax asset will not be realized. The net increase in the valuation allowance of $10 million during 2013 primarily relates to state tax credit carryforwards.
  • Deferred income tax liabilities, net, includes current deferred income tax assets of $334 million and $317 million as of December 31, 2013 and 2012, respectively.

 

Level 4 Details Key Concepts: Deferred tax assets (liabilities)

Description Fact value US GAAP XBRL Concept
Deferred tax assets, gross 0
Valuation allowance -28,000,000 us-gaap:DeferredTaxAssetsValuationAllowance
Deferred tax assets, net 700,000,000 us-gaap:DeferredTaxAssetsNet
Deferred tax liabilities -11,764,000,000 us-gaap:DeferredTaxLiabilities
Deferred tax assets (liabilities), net -11,064,000,000
CHECK 0

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(Classified balance sheet) Deferred tax assets (liabilities), net components current/noncurrent asset/liability

Description Fact value US GAAP XBRL Concept
Deferred tax assets, net, current 334,000,000 us-gaap:DeferredTaxAssetsNetCurrent
Deferred tax assets, net, noncurrent 0
Deferred tax liabilities, net, current 0
Deferred tax liabilities, net, noncurrent -12,098,000,000 us-gaap:DeferredTaxLiabilities
Deferred tax assets (liabilities), net -11,064,000,000
CHECK 0

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(Unclassified balance sheet) Deferred tax assets (liabilities), net components asset/liability

Description Fact value US GAAP XBRL Concept
Deferred tax assets 700,000,000 us-gaap:DeferredTaxAssetsNetCurrent
Deferred tax liabilities, net -11,764,000,000 us-gaap:DeferredTaxLiabilities
Deferred tax assets (liabilities), net -11,064,000,000
CHECK 0

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