Time Warner has a Debt to Equity ratio of 3. This means that:

Every $1 in assets was financed with $3 in debt. Every $1 in assets was financed with $3 in equity. Every $1 in equity was financed with $3 in debt. Every $4 in assets was financed with $3 in debt. Every $4 in equity was financed with $3 in debt.