Company: WBD
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001437107-25-000216
Chunk: 125

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 125
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 Ended September 30,Nine Months Ended September 30,2025202420252024Gross receivables sold/cash proceeds received$3,913 $3,528 $12,135 $11,024 Collections reinvested under revolving receivables program(4,409)(3,834)(12,769)(11,464)Net cash proceeds remitted$(496)$(306)$(634)$(440)Net receivables sold$3,912 $3,524 $12,102 $10,967 Obligations recorded (Level 3)$77 $31 $277 $270 

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WARNER BROS. DISCOVERY, INC.NOTES TO CONSOLIDATED FINANCIAL STATEMENTS(unaudited)

The following table presents a summary of the amounts transferred or pledged, which were held at the Company’s bankruptcy-remote consolidated subsidiary (in millions).September 30, 2025December 31, 2024Gross receivables pledged as collateral$2,200 $2,402 Restricted cash pledged as collateral$— $100 Balance sheet classification:Receivables, net$1,812 $2,039 Prepaid expenses and other current assets$— $100 Other noncurrent assets$388 $363 Accounts Receivable FactoringTotal trade accounts receivable sold under the Company’s factoring arrangement were $102 million and $57 million for the nine months ended September 30, 2025 and 2024. The impact to the consolidated statements of operations was immaterial for the three and nine months ended September 30, 2025 and 2024. This accounts receivable factoring agreement is separate and distinct from the revolving receivables program.

NOTE 6. CONTENT RIGHTS

For purposes of amortization and impairment, capitalized production costs are grouped based on their predominant monetization strategy: individually or as a group. Live programming includes licensed sports rights and related advances. The tables below present the components of content rights (in millions).September 30, 2025Predominantly Monetized IndividuallyPredominantly Monetized as a GroupTotalProduction costs:Released, less amortization$3,433 $5,744 $9,177 Completed and not released646 661 1,307 In production and other1,917 2,208 4,125 Total production costs$5,