Cash flow Warner Bros. Discovery, Inc.

Equities

WBD

US9344231041

Broadcasting

End-of-day quote Nasdaq Other stock markets 17/09/2024			5-day change	1st Jan Change
8.450 ^USD	-1.29%		+21.76%	-25.75%

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9877b4d9a6be053.jh1k4GA4ZzmgMTUT-XZWjOV3uUlDWiNscvopWGQXsM8.6GhW2VZ2EErBAwYlukEz6JURjXsHHRcIBpV8HDtu1ay6dxTXIWgkSNBHDQ

Published financial data: WARNER BROS. DISCOVERY, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	10.88B	10.45B	11.62B	24.67B	28.94B
Other Revenues, Total	265M	222M	567M	9.15B	12.38B
Total Revenues	11.14B	10.67B	12.19B	33.82B	41.32B
Cost of Goods Sold, Total	3.75B	3.81B	4.62B	20.39B	24.32B
Gross Profit	7.39B	6.86B	7.58B	13.43B	17.01B
Selling General & Admin Expenses, Total	2.76B	2.72B	3.92B	8.49B	9.6B
Depreciation & Amortization - (IS)	1.35B	1.36B	1.58B	7.19B	7.98B
Other Operating Expenses	-	-	-	-	-
Other Operating Expenses, Total	4.11B	4.08B	5.5B	15.68B	17.58B
Operating Income	3.28B	2.78B	2.07B	-2.26B	-576M
Interest Expense, Total	-720M	-691M	-677M	-1.29B	-2.16B
Interest And Investment Income	22M	10M	18M	-	179M
Net Interest Expenses	-698M	-681M	-659M	-1.29B	-1.98B
Income (Loss) On Equity Invest.	-2M	-105M	-18M	-160M	-82M
Currency Exchange Gains (Loss)	-1M	-50M	134M	-154M	-141M
Other Non Operating Income (Expenses)	-	-2M	-22M	74M	-27M
EBT, Excl. Unusual Items	2.58B	1.95B	1.51B	-3.79B	-2.81B
Restructuring Charges	-26M	-91M	-32M	-3.76B	-585M
Merger & Related Restructuring Charges	-26M	-6M	-95M	-1.2B	-162M
Impairment of Goodwill	-155M	-124M	-	-	-
Gain (Loss) On Sale Of Investments	14M	138M	-4M	-52M	-36M
Gain (Loss) On Sale Of Assets	-	-	71M	-117M	-77M
Asset Writedown	-67M	-48M	-5M	-51M	-211M
Other Unusual Items	-28M	-87M	-10M	-	17M
EBT, Incl. Unusual Items	2.29B	1.73B	1.43B	-8.96B	-3.86B
Income Tax Expense	81M	373M	236M	-1.66B	-784M
Earnings From Continuing Operations	2.21B	1.36B	1.2B	-7.3B	-3.08B
Net Income to Company	2.21B	1.36B	1.2B	-7.3B	-3.08B
Minority Interest	-144M	-136M	-191M	-74M	-47M
Net Income - (IS)	2.07B	1.22B	1.01B	-7.37B	-3.13B
Preferred Dividend and Other Adjustments	224M	128M	94M	49M	-
Net Income to Common Incl Extra Items	1.84B	1.09B	912M	-7.42B	-3.13B
Net Income to Common Excl. Extra Items	1.84B	1.09B	912M	-7.42B	-3.13B
Per Share Items
Net EPS - Basic	2.86	1.81	1.57	-3.82	-1.28
Basic EPS - Continuing Operations	2.86	1.81	1.57	-3.82	-1.28
Basic Weighted Average Shares Outstanding	645M	602M	580M	1.94B	2.44B
Net EPS - Diluted	2.48	1.42	1.38	-3.82	-1.28
Diluted EPS - Continuing Operations	2.48	1.42	1.38	-3.82	-1.28
Diluted Weighted Average Shares Outstanding	827M	769M	741M	1.94B	2.44B
Normalized Basic EPS	2.28	1.79	1.29	-1.26	-0.74
Normalized Diluted EPS	1.78	1.41	1.01	-1.26	-0.74
American Depositary Receipts Ratio (ADR)	1	1	1	1	1
Supplemental Items
EBITDA	4.63B	4.14B	3.66B	4.94B	7.41B
EBITA	4.38B	3.88B	3.37B	3.94B	6.32B
EBIT	3.28B	2.78B	2.07B	-2.26B	-576M
EBITDAR	4.75B	4.27B	3.76B	5.38B	7.95B
Total Revenues (As Reported)	11.14B	10.67B	12.19B	33.82B	41.32B
Effective Tax Rate - (Ratio)	3.53	21.59	16.47	18.56	20.3
Current Domestic Taxes	453M	434M	581M	772M	810M
Current Foreign Taxes	132M	125M	166M	407M	750M
Total Current Taxes	585M	559M	747M	1.18B	1.56B
Deferred Domestic Taxes	-62M	-38M	-244M	-2.78B	-2.39B
Deferred Foreign Taxes	-442M	-148M	-267M	-57M	49M
Total Deferred Taxes	-504M	-186M	-511M	-2.84B	-2.34B
Normalized Net Income	1.47B	1.08B	752M	-2.44B	-1.8B
Interest on Long-Term Debt	677M	648M	633M	8M	8M
Non-Cash Pension Expense	-	-	-	-	-
Supplemental Operating Expense Items
Advertising Expense	390M	412M	1.2B	2.52B	2.43B
Selling and Marketing Expenses	390M	412M	1.2B	2.52B	2.43B
Net Rental Expense, Total	124M	125M	110M	438M	540M
Imputed Operating Lease Interest Expense	42.75M	42.17M	37.18M	133M	187M
Imputed Operating Lease Depreciation	81.25M	82.83M	72.82M	305M	353M
Stock-Based Comp., SG&A Exp. (Total)	142M	110M	178M	412M	500M
Total Stock-Based Compensation	142M	110M	178M	412M	500M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	1.55B	2.09B	3.9B	3.73B	3.78B
Short Term Investments	11M	32M	40M	10M	17M
Trading Asset Securities, Total	-	-	170M	-	7M
Total Cash And Short Term Investments	1.56B	2.12B	4.12B	3.74B	3.8B
Accounts Receivable, Total	2.63B	2.54B	2.45B	4.6B	4.53B
Notes Receivable	-	-	20M	-	-
Total Receivables	2.63B	2.54B	2.47B	4.6B	4.53B
Prepaid Expenses	350M	630M	354M	-	2.44B
Deferred Tax Assets Current	-	-	-	-	-
Restricted Cash	-	-	-	199M	539M
Other Current Assets, Total	671M	840M	329M	5.46B	2.91B
Total Current Assets	5.22B	6.13B	7.26B	14B	14.22B
Gross Property Plant And Equipment	2.19B	2.39B	2.3B	8.69B	9.49B
Accumulated Depreciation	-805M	-915M	-796M	-1.15B	-1.76B
Net Property Plant And Equipment	1.39B	1.47B	1.5B	7.54B	7.73B
Long-term Investments	1.36B	1.11B	1.15B	1.58B	1.47B
Goodwill	13.05B	13.07B	12.91B	34.44B	34.97B
Other Intangibles, Total	11.97B	11.39B	10.52B	72.58B	60.82B
Deferred Tax Assets Long-Term	475M	597M	755M	689M	697M
Other Long-Term Assets, Total	270M	317M	329M	3.17B	2.86B
Total Assets	33.74B	34.09B	34.43B	134B	123B
Liabilities
Accounts Payable, Total	463M	397M	412M	1.45B	1.26B
Accrued Expenses, Total	1.09B	1.14B	1.34B	11.08B	9.96B
Short-term Borrowings	-	-	-	-	-
Current Portion of Long-Term Debt	609M	335M	339M	365M	1.78B
Current Portion of Leases	129M	128M	120M	427M	406M
Current Income Taxes Payable	-	-	-	-	-
Unearned Revenue Current, Total	489M	557M	478M	1.69B	1.92B
Other Current Liabilities	456M	528M	772M	-	-
Total Current Liabilities	3.24B	3.08B	3.46B	15.02B	15.33B
Long-Term Debt	14.81B	15.16B	14.42B	48.63B	41.89B
Long-Term Leases	824M	776M	764M	3.18B	3.21B
Unearned Revenue Non Current	108M	92M	95M	361M	160M
Pension & Other Post Retirement Benefits	-	-	-	292M	264M
Deferred Tax Liability Non Current	1.69B	1.53B	1.22B	11.01B	8.74B
Other Non Current Liabilities	1.1B	1.06B	1.06B	6.84B	6.69B
Total Liabilities	21.77B	21.7B	21.03B	85.33B	76.28B
Common Stock, Total	7M	7M	7M	27M	27M
Additional Paid In Capital	10.75B	10.81B	11.09B	54.63B	55.11B
Retained Earnings	7.33B	8.54B	9.58B	2.2B	-928M
Treasury Stock	-7.37B	-8.24B	-8.24B	-8.24B	-8.24B
Comprehensive Income and Other	-822M	-651M	-830M	-1.52B	-741M
Total Common Equity	9.89B	10.46B	11.6B	47.1B	45.23B
Minority Interest	2.08B	1.92B	1.8B	1.57B	1.25B
Total Equity	11.97B	12.38B	13.4B	48.67B	46.47B
Total Liabilities And Equity	33.74B	34.09B	34.43B	134B	123B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	688M	487M	506M	2.43B	2.44B
ECS Total Common Shares Outstanding	692M	654M	659M	2.43B	2.44B
Book Value / Share	14.3	16.01	17.61	19.38	18.54
Tangible Book Value	-15.13B	-13.99B	-11.83B	-59.93B	-50.56B
Tangible Book Value Per Share	-21.88	-21.41	-17.97	-24.66	-20.73
Total Debt	16.37B	16.4B	15.65B	52.6B	47.29B
Net Debt	14.81B	14.27B	11.53B	48.86B	43.49B
Debt Equivalent of Unfunded Proj. Benefit Obligation	48M	297M	300M	229M	213M
Debt Equivalent Oper. Leases	992M	1B	880M	3.5B	4.32B
Minority Interest, Total (Incl. Fin. Div)	2.08B	1.92B	1.8B	1.57B	1.25B
Equity Method Investments, Total	568M	507M	543M	1.06B	996M
Account Code - Inventory Valuation	3	3	3	-	3
Film Contract & Broadcasting Rights - Long-Term, Total	3.13B	3.44B	3.83B	26.65B	21.23B
Land - (BS)	298M	334M	481M	3.25B	4.01B
Machinery, Total	1.01B	1.48B	1.14B	1.68B	2.06B
Full Time Employees	9.2K	9.8K	11K	37.5K	35.3K
Assets under Capital Lease - Gross	-	-	-	-	-
Assets under Capital Lease - Accumulated Depreciation	-	-	-	-	-
Accumulated Allowance for Doubtful Accounts (Supple)	54M	59M	54M	123M	161M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	2.07B	1.22B	1.01B	-7.37B	-3.13B
Depreciation & Amortization - CF	247M	259M	282M	993M	1.08B
Amortization of Goodwill and Intangible Assets - (CF)	1.1B	1.1B	1.3B	6.2B	6.9B
Depreciation & Amortization, Total	1.35B	1.36B	1.58B	7.19B	7.98B
Amortization of Deferred Charges, Total - (CF)	2.79B	2.91B	3.5B	14.11B	15.81B
(Gain) Loss From Sale Of Asset	-	2M	-71M	116M	-
(Gain) Loss on Sale of Investments - (CF)	-14M	-103M	-19M	-199M	-
Asset Writedown & Restructuring Costs	222M	172M	5M	2.86B	326M
(Income) Loss On Equity Investments - (CF)	62M	167M	63M	211M	157M
Stock-Based Compensation (CF)	142M	110M	178M	412M	500M
Other Operating Activities, Total	-242M	4M	-205M	-2.04B	-2.19B
Change In Accounts Receivable	-7M	105M	47M	181M	312M
Change In Accounts Payable	122M	-131M	185M	1.53B	-820M
Change In Income Taxes	4M	-	-	-	-
Change in Other Net Operating Assets	-3.09B	-3.07B	-3.47B	-12.69B	-11.48B
Cash from Operations	3.4B	2.74B	2.8B	4.3B	7.48B
Capital Expenditure	-289M	-402M	-373M	-987M	-1.32B
Sale of Property, Plant, and Equipment	4M	-	-	-	-
Cash Acquisitions	-73M	-39M	-2M	3.61B	-50M
Divestitures	-	69M	-	-	-
Investment in Marketable and Equity Securities, Total	-129M	-431M	312M	138M	-112M
Other Investing Activities, Total	49M	100M	7M	761M	219M
Cash from Investing	-438M	-703M	-56M	3.52B	-1.26B
Short Term Debt Issued, Total	-	-	-	2.39B	5.21B
Long-Term Debt Issued, Total	1.48B	2.48B	-	-	1.5B
Total Debt Issued	1.48B	2.48B	-	2.39B	6.7B
Short Term Debt Repaid, Total	-	-	-	-2.4B	-5.21B
Long-Term Debt Repaid, Total	-2.94B	-2.69B	-574M	-7.32B	-6.86B
Total Debt Repaid	-2.94B	-2.69B	-574M	-9.71B	-12.07B
Issuance of Common Stock	-	-	-	-	-
Repurchase of Common Stock	-633M	-969M	-	-	-
Other Financing Activities, Total	-264M	-366M	-279M	-425M	-466M
Cash from Financing	-2.36B	-1.55B	-853M	-7.74B	-5.84B
Foreign Exchange Rate Adjustments	-38M	83M	-106M	-61M	8M
Net Change in Cash	566M	570M	1.78B	25M	389M
Supplemental Items
Cash Interest Paid	708M	673M	664M	1.54B	2.24B
Cash Income Tax Paid (Refund)	562M	641M	643M	1.03B	1.44B
Levered Free Cash Flow	5.54B	5.06B	6.99B	22.63B	20.04B
Unlevered Free Cash Flow	5.99B	5.49B	7.42B	23.43B	21.39B
Change In Net Working Capital	48M	224M	-1.24B	-4.12B	1.24B
Net Debt Issued / Repaid	-1.46B	-214M	-574M	-7.32B	-5.37B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	6.19	5.13	3.78	-1.67	-0.28
Return on Total Capital	7.34	6.09	4.48	-2.16	-0.37
Return On Equity %	19.69	11.13	9.29	-23.51	-6.47
Return on Common Equity	20.19	10.72	8.27	-25.28	-6.77
Margin Analysis
Gross Profit Margin %	66.33	64.28	62.14	39.7	41.16
SG&A Margin	24.78	25.45	32.16	25.1	23.23
EBITDA Margin %	41.55	38.82	29.98	14.6	17.93
EBITA Margin %	39.33	36.4	27.67	11.67	15.3
EBIT Margin %	29.46	26.09	17	-6.67	-1.39
Income From Continuing Operations Margin %