Company: WBD
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437107-25-000192
Chunk: 130

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 130
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 rights and games$18,817 December 31, 2024Predominantly Monetized IndividuallyPredominantly Monetized as a GroupTotalProduction costs:Released, less amortization$2,948 $5,678 $8,626 Completed and not released794 767 1,561 In production and other1,700 2,008 3,708 Total production costs$5,442 $8,453 $13,895 Licensed content, live programming, and advances, net5,744 Game development costs, less amortization247 Total film and television content rights and games19,886 Less: Current content rights and prepaid license fees, net(784)Total noncurrent film and television content rights and games$19,102 Content amortization consisted of the following (in millions).Three Months Ended June 30,Six Months Ended June 30,2025202420252024Predominantly monetized individually$645 $754 $1,225 $1,676 Predominantly monetized as a group3,033 3,114 5,563 5,893 Total content amortization$3,678 $3,868 $6,788 $7,569 

Content expense includes amortization, impairments, and development expense and is generally a component of costs of revenues on the consolidated statements of operations. Content impairments were $28 million and $63 million, respectively, for the three and six months ended June 30, 2025. For the three and six months ended June 30, 2024, content impairments were $52 million and $178 million, respectively.

15

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

NOTE 7. INVESTMENTS

The Company’s equity investments consisted of the following, net of investments recorded in other noncurrent liabilities (in millions).CategoryBalance Sheet LocationOwnershipJune 30, 2025December 31, 2024Equity method investments:The Chernin Group (TCG) 2.0-A, LPOther noncurrent assets44%$237 $240 nC+Other noncurrent assets32%154 128 TNT SportsOther noncurrent assets50%84 92 OtherOther noncurrent assets243 261 Total equity method investments718 721 Investments with readily