Company: WBD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001437107-25-000096
Chunk: 116

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 116
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Marketing expense289 289 88 Other segment expenses (c)326 158 527 Segment Adjusted EBITDA$86 $184 $2,119 (a) Content expense includes amortization, impairments, participations, residuals, development expense, and production costs, including talent costs, and is a component of costs of revenues. Content expense excludes content impairments and other development costs recorded in restructuring and other charges, amortization of purchase accounting fair value step-up for content, and amortization of capitalized interest for content as these items are excluded from the calculation of Adjusted EBITDA.(b) Personnel expense is a component of costs of revenues and selling, general and administrative expense. Personnel expense includes marketing personnel compensation and excludes commissions (included in other segment expenses) and talent costs (included in content expense).(c) Other segment expenses include distribution costs, other direct costs, software and hardware costs, IT services, professional and consulting fees, commissions, and certain other overhead costs. Other segment expenses exclude depreciation and amortization, amortization of purchase accounting fair value step-up for content, amortization of capitalized interest for content, employee share-based compensation, third-party transaction and integration costs, and other items impacting comparability as these items are excluded from the calculation of Adjusted EBITDA.Reconciliation of segment adjusted EBITDA to loss before income taxes Three Months Ended March 31,20252024Streaming$339 $86 Studios259 184 Global Linear Networks1,793 2,119 Segment Adjusted EBITDA2,391 2,389 Depreciation and amortization1,547 1,888 Employee share-based compensation120 99 Restructuring and other charges54 35 Transaction and integration costs80 81 Facility consolidation costs5 2 Impairment and amortization of fair value step-up for content240 235 Amortization of capitalized interest for content6 17 Impairments and loss on dispositions90 12 Corporate233 346 Inter-segment eliminations 53 (59)Other (income) expense, net(82)14 Loss from equity investees, net7 48 Loss (gain) on extinguishment of debt4 (25)Interest expense, net468 515 Loss before income taxes$(434)$(819)

NOTE 17. SUBSEQUENT EVENTS

In April 2025, the Company borrowed $500 million under its Credit Facility