Warner Music Group Corp. (WMG)
Warner Music Group Corp. (WMG)
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net income | 181 | 175 | 109 | 261 |
| Depreciation and amortization | 103 | 99 | 104 | 272 |
| Unrealized losses and remeasurement of foreign-denominated loans and foreign currency forward exchange contracts | 44 | -3 | 14 | -84 |
| Deferred income taxes | 14 | 25 | -97 | 7 |
| Loss on extinguishment of debt | -7 | NaN | 0 | NaN |
| Net gain on investments | 0 | -1 | 0 | 27 |
| Net loss (gain) on divestitures | NaN | NaN | 0 | NaN |
| Net loss on divestitures | 0 | -5 | NaN | 0 |
| Non-cash interest expense | 3 | 1 | 3 | 4 |
| Non-cash stock-based compensation expense | 12 | 19 | 11 | 43 |
| Non-cash impairments | 2 | -93 | NaN | 102 |
| Non-cash impairments and restructuring | NaN | NaN | 139 | NaN |
| Remeasurement of share-settled liability | 4 | NaN | NaN | NaN |
| Accounts receivable, net | 142 | 33 | 40 | 21 |
| Inventories | 7 | -12 | 11 | 0 |
| Royalty advances | 65 | 7 | 17 | 295 |
| Other noncurrent assets | -1 | -7 | -4 | 0 |
| Accounts payable and accrued liabilities | -1 | -34 | 163 | -191 |
| Royalty payables | -83 | 195 | -79 | 246 |
| Accrued interest | -12 | 8 | -8 | 15 |
| Operating lease liabilities | -3 | 2 | -3 | -12 |
| Deferred revenue | 210 | -44 | 16 | 24 |
| Income taxes payable | -23 | NaN | NaN | NaN |
| Other balance sheet changes, net | 31 | 3 | -53 | 65 |
| Net cash provided by operating activities | 126 | 440 | 231 | 447 |
| Acquisition of music publishing rights and music catalogs | 427 | 30 | 43 | 152 |
| Capital expenditures | 27 | 20 | 28 | 111 |
| Investments and acquisitions of businesses, net of cash received | 17 | 12 | 0 | 46 |
| Proceeds from the sale of investments | 0 | 0 | 4 | 36 |
| Proceeds from divestitures | 0 | 10 | 0 | 0 |
| Net cash used in investing activities | -471 | -52 | -67 | -273 |
| Proceeds from issuance of secured note-Senior Term Loan Facility | NaN | NaN | 0 | NaN |
| Repayment of senior secured notes-Senior Term Loan Facility | NaN | NaN | 0 | 0 |
| Proceeds from senior term loan a facility | 1,295 | NaN | NaN | 0 |
| Proceeds from issuance of secured note-Term Loan Mortgage | NaN | NaN | 0 | NaN |
| Repayment of senior term loan b facility | 1,295 | NaN | NaN | NaN |
| Repayment of senior secured notes-Term Loan Mortgage | NaN | NaN | 0 | 1 |
| Proceeds from beethoven credit agreement | 366 | 4 | NaN | NaN |
| Deferred financing costs paid | 4 | 8 | 2 | 0 |
| Distribution to noncontrolling interest holders | 3 | 4 | 7 | 8 |
| Contributions from redeemable noncontrolling interest holder | 129 | 5 | NaN | NaN |
| Dividends paid | 100 | 100 | 100 | 283 |
| Payment of deferred consideration | 17 | 25 | 0 | 23 |
| Taxes paid related to net share settlement of restricted stock units and common stock | 21 | 5 | 1 | 19 |
| Common stock repurchased and retired | 22 | 26 | 13 | 3 |
| Redemption of noncontrolling interests | NaN | NaN | 37 | NaN |
| Other financing activity | 0 | 7 | NaN | -7 |
| Net cash provided by (used in) financing activities | 328 | -159 | -153 | -344 |
| Effect of exchange rate changes on cash and equivalents | -5 | 3 | -3 | 3 |
| Cash balances classified as assets held for sale | NaN | NaN | -3 | NaN |
| Effect of change in cash balances classified as assets held for sale | 15 | -16 | NaN | NaN |
| Net increase (decrease) in cash and equivalents | -7 | 216 | 5 | -167 |
| Cash and equivalents at beginning of period | 751 | 535 | 694 | NaN |
| Cash and equivalents at end of period | 741 | 751 | 532 | NaN |