Company: WBD
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001437107-25-000216
Chunk: 136

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 136
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expense) income, net in the consolidated statements of operations (in millions).Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Interest rate swaps$2 $(29)$— $(1)Total return swaps24 21 44 41 Total in selling, general and administrative expense26 (8)44 40 Interest rate swaps— — — (3)Cross-currency swaps(3)— (10)— Foreign exchange derivatives — (6)34 (31)Total in other (expense) income, net(3)(6)24 (34)Total$23 $(14)$68 $6 

NOTE 10. FAIR VALUE MEASUREMENTS

Fair value is defined as the amount that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants. Assets and liabilities carried at fair value are classified in the following three categories:Level 1–Quoted prices for identical instruments in active markets.Level 2–Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets.Level 3–Valuations derived from techniques in which one or more significant inputs are unobservable.

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

The tables below present assets and liabilities measured at fair value on a recurring basis (in millions).  September 30, 2025CategoryBalance Sheet LocationLevel 1Level 2Level 3TotalAssetsCash equivalents:Time depositsCash and cash equivalents$— $312 $— $312 Equity securities:Money market fundCash and cash equivalents56 — — 56 Mutual fundsPrepaid expenses and other current assets14 — — 14 Company-owned life insurance contractsPrepaid expenses and other current assets— 5 — 5 Mutual fundsOther noncurrent assets207 — — 207 Company-owned life insurance contractsOther noncurrent assets— 101 — 101 Total$277 $418 $— $695 LiabilitiesDeferred compensation planAccrued liabilities$69 $— $— $69 Deferred compensation planOther noncurrent liabilities678 — — 678 Total$