Warner Bros Discovery Inc
For the period ended Dec 31, 2024. Filed Feb 27, 2025.
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FY2024 · Filed Feb 27, 2025
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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Operating Activities | |||
| Net loss | $(11,482) | $(3,079) | $(7,297) |
| Adjustments to reconcile net income to cash provided by operating activities: | |||
| Content rights amortization and impairment | 13,946 | 16,024 | 14,161 |
| Content restructuring impairments and write-offs | 165 | 115 | 2,808 |
| Depreciation and amortization | 7,037 | 7,985 | 7,193 |
| Deferred income taxes | (1,732) | (2,344) | (2,842) |
| Preferred stock conversion premium | — | — | 789 |
| Equity in losses of equity method investee companies and cash distributions | 167 | 157 | 211 |
| Gain on extinguishment of debt | (632) | (17) | — |
| Share-based compensation expense | 557 | 500 | 412 |
| Impairments and loss on dispositions | 9,603 | 77 | 116 |
| Gain from derivative instruments, net | (16) | (151) | (501) |
| Gain on sale of investments | (227) | — | (199) |
| Other, net | 115 | 199 | 435 |
| Changes in operating assets and liabilities, net of acquisitions and dispositions: | |||
| Receivables, net | 1,012 | 312 | 181 |
| Film and television content rights, games and production payables, net | (12,349) | (12,305) | (12,562) |
| Accounts payable, accrued liabilities, deferred revenues and other noncurrent liabilities | (529) | (820) | 1,529 |
| Foreign currency, prepaid expenses and other assets, net | (260) | 824 | (130) |
| Cash provided by operating activities | 5,375 | 7,477 | 4,304 |
| Investing Activities | |||
| Purchases of property and equipment | (948) | (1,316) | (987) |
| Cash (used for) acquired from business acquisitions and working capital settlement | — | (50) | 3,612 |
| Investments in and advances to equity investments | (109) | (112) | (168) |
| Proceeds from sales and maturities of investments | 541 | — | 306 |
| Proceeds from derivative instruments, net | 136 | 121 | 752 |
| Other investing activities, net | 31 | 98 | 9 |
| Cash (used in) provided by investing activities | (349) | (1,259) | 3,524 |
| Financing Activities | |||
| Principal repayments of term loans | — | (4,000) | (6,000) |
| Principal repayments of debt, including premiums and discounts to par value | (5,043) | (2,860) | (1,315) |
| Borrowings from debt, net of discount and issuance costs | 1,617 | 1,496 | — |
| Distributions to noncontrolling interests and redeemable noncontrolling interests | (193) | (301) | (300) |
| Purchase of redeemable noncontrolling interest | — | (49) | — |
| Borrowings under commercial paper program and revolving credit facility | 14,203 | 5,207 | 2,393 |
| Repayments under commercial paper program and revolving credit facility | (14,203) | (5,214) | (2,395) |
| Other financing activities, net | (130) | (116) | (125) |
| Cash used in financing activities | (3,749) | (5,837) | (7,742) |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (180) | 8 | (61) |
| Net change in cash, cash equivalents, and restricted cash | 1,097 | 389 | 25 |
| Cash, cash equivalents, and restricted cash, beginning of period | 4,319 | 3,930 | 3,905 |
| Cash, cash equivalents, and restricted cash, end of period | $5,416 | $4,319 | $3,930 |
| The accompanying notes are an integral part of these consolidated financial statements. | |||
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