Time Warner Cable Inc., current enterprise value calculation

Current share price (P)	$210.79
No. shares of common stock outstanding	284,701,320
US$ in millions
Common equity (market value)¹	60,012)
Add: Noncontrolling interests (per books)	4)
Total equity	60,016)
Add: Current maturities of long-term debt (per books)	5)
Add: Long-term debt, excluding current maturities (per books)	22,497)
Total equity and debt	82,518)
Less: Cash and equivalents	1,170)
Less: Short-term investments in U.S. Treasury securities	—)
Enterprise value (EV)	81,348)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 210.79 × 284,701,320

Time Warner Cable Inc., EV calculation

	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013	Dec 31, 2012	Dec 31, 2011
Share price^1, 2	$184.99	$149.74	$144.98	$86.94	$77.66
No. shares of common stock outstanding¹	283,270,372	280,900,337	277,451,193	295,513,813	314,086,417
US$ in millions
Common equity (market value)³	52,402)	42,062)	40,225)	25,692)	24,392)
Add: Noncontrolling interests (book value)	4)	4)	4)	4)	7)
Total equity	52,406)	42,066)	40,229)	25,696)	24,399)
Add: Current maturities of long-term debt (book value)	5)	1,017)	1,767)	1,518)	2,122)
Add: Long-term debt, excluding current maturities (book value)	22,497)	22,701)	23,285)	25,171)	24,320)
Total equity and debt	74,908)	65,784)	65,281)	52,385)	50,841)
Less: Cash and equivalents	1,170)	707)	525)	3,304)	5,177)
Less: Short-term investments in U.S. Treasury securities	—)	—)	—)	150)	—)
Enterprise value (EV)	73,738)	65,077)	64,756)	48,931)	45,664)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Time Warner Cable Inc. Annual Report.

³ 2015 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 184.99 × 283,270,372

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Item	Description	The company
EV	Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments.	Time Warner Cable Inc. EV increased from 2013 to 2014 and from 2014 to 2015.

Time Warner Cable Inc. (NYSE:TWC)

Enterprise Value (EV)