| Cash Flow | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-09-30 |
|---|---|---|---|---|
| Net income (loss) | 996 | 1,139 | -449 | -10,842 |
| Content rights amortization and impairment | 9,093 | 6,851 | 3,145 | 10,879 |
| Depreciation and amortization | 4,369 | 2,994 | 1,547 | 5,394 |
| Deferred income taxes | -272 | -471 | -312 | -1,351 |
| Share-based compensation expense | 540 | 298 | 123 | 419 |
| Equity in losses of equity method investee companies and cash distributions | -26 | -18 | - | -130 |
| Gain on sale of investments | 4 | 6 | - | 204 |
| Gain on extinguishment of debt | 2,953 | 2,954 | - | 590 |
| Impairments and loss on dispositions | - | - | -90 | -9,412 |
| Gain from derivative instruments, net | - | - | - | 41 |
| Impairments and loss on dispositions | -162 | -116 | - | - |
| Other, net | 75 | 97 | -17 | -96 |
| Receivables, net | 200 | 460 | -288 | -517 |
| Film and television content rights, games, and production payables, net | -9,096 | -6,314 | -2,846 | -9,506 |
| Accounts payable, accrued liabilities, deferred revenues and other noncurrent liabilities | -402 | -141 | -1,026 | -1,493 |
| Foreign currency, prepaid expenses and other assets, net | -331 | -563 | 24 | 160 |
| Cash provided by operating activities | 2,515 | 1,536 | 553 | 2,660 |
| Purchases of property and equipment | 810 | 532 | 251 | 662 |
| Proceeds from sales of investments | 54 | 54 | 11 | 324 |
| Investments in and advances to equity investments | 97 | 26 | 14 | 104 |
| Proceeds from asset dispositions | - | 66 | 66 | - |
| Other investing activities, net | -92 | -7 | 7 | -87 |
| Cash used in investing activities | -761 | -431 | -195 | -355 |
| Principal repayments of term loans | - | - | - | 0 |
| Principal repayments of debt, including premiums and discounts to par value | 21,663 | 20,403 | 3,665 | 4,550 |
| Borrowings from debt, net of discount and issuance costs | 18,306 | 18,303 | 1,500 | 1,617 |
| Distributions to noncontrolling interests and redeemable noncontrolling interests | 188 | 174 | 157 | 172 |
| Proceeds for noncontrolling interest in joint venture | 633 | 601 | 601 | - |
| Securitization receivables collected but not remitted | 51 | - | - | 13 |
| Borrowings under commercial paper program and revolving credit facility | 3,551 | 3,551 | 695 | 14,203 |
| Repayments under commercial paper program and revolving credit facility | 3,551 | 3,551 | 695 | 14,203 |
| Other financing activities, net | -262 | -213 | -174 | -57 |
| Cash used in financing activities | -3,123 | -1,886 | -1,895 | -3,149 |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 251 | 256 | 95 | 15 |
| Net change in cash, cash equivalents, and restricted cash | -1,118 | -525 | -1,442 | -829 |
| Cash and cash equivalents at beginning of period | 5,416 | 5,416 | 5,416 | 4,319 |
| Cash and cash equivalents at end of period | 4,298 | 4,891 | 3,974 | 3,490 |
Warner Bros. Discovery, Inc. (WBD)
Warner Bros. Discovery, Inc. (WBD)