Company: WBD
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001437107-25-000216
Chunk: 69

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 69
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. 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.

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

Reconciliation of segment adjusted EBITDA to loss before income taxes Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Streaming$345 $289 $977 $268 Studios695 308 1,817 702 Global Linear Networks1,702 2,115 5,007 6,232 Segment Adjusted EBITDA2,742 2,712 7,801 7,202 Depreciation and amortization1,375 1,762 4,369 5,394 Employee share-based compensation240 157 533 412 Restructuring and other charges88 9 222 161 Transaction and integration costs11 33 108 165 Facility consolidation costs1 2 10 9 Impairment and amortization of fair value step-up for content79 156 707 913 Amortization of capitalized interest for content19 8 28 38 Impairments and loss on dispositions46 5 162 9,412 Corporate258 296 807 927 Inter-segment eliminations 14 3 466 (35)Other expense (income), net30 (30)(191)(188)(Income) loss from equity investees, net(17)18 (15)89 Loss (gain) on extinguishment of debt1 (23)(2,953)(590)Interest expense, net570 494 1,501 1,527 Income (loss) before income taxes$27 $(178)$2,047 $(11,032)

NOTE 17. SUBSEQUENT EVENTS

In October 2025, the Company repaid $200 million of aggregate principal amount outstanding of its Bridge Loan Facility and borrowed $210 million under its commercial paper program, which is expected to be repaid within the current quarter.Additionally, the Company entered into a 16 year operating lease agreement for the Ranch Lot in Burbank and recorded an operating