Company: WBD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001437107-25-000096
Chunk: 55

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 55
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 part of our forecasting process (the “2025 Baseline Rate”), and the prior year amounts translated at the same 2025 Baseline Rate. In addition, consistent with the assumption of a constant currency environment, our ex-FX results exclude the impact of our foreign currency hedging activities, as well as realized and unrealized foreign currency transaction gains and losses. Results on a constant currency basis, as we present them, may not be comparable to similarly titled measures used by other companies.

Consolidated Results of Operations

The table below presents our consolidated results of operations (in millions).Three Months Ended March 31,20252024% Change% Change (ex-FX)Revenues:Distribution$4,886 $4,985 (2)%(1)%Advertising1,980 2,148 (8)%(8)%Content1,866 2,558 (27)%(25)%Other247 267 (7)%(6)%Total revenues8,979 9,958 (10)%(9)%Costs of revenues, excluding depreciation and amortization5,131 6,058 (15)%(15)%Selling, general and administrative2,194 2,232 (2)%(1)%Depreciation and amortization1,547 1,888 (18)%(18)%Restructuring and other charges54 35 54 %59 %Impairments and loss on dispositions90 12 NMNMTotal costs and expenses9,016 10,225 (12)%(12)%Operating loss(37)(267)86 %NMInterest expense, net(468)(515)(Loss) gain on extinguishment of debt(4)25 Loss from equity investees, net(7)(48)Other income (expense), net82 (14)Loss before income taxes(434)(819)Income tax expense(15)(136)Net loss(449)(955)Net income attributable to noncontrolling interests(8)(7)Net loss (income) attributable to redeemable noncontrolling interests4 (4)Net loss available to Warner Bros. Discovery, Inc.$(453)$(966)

NM - Not meaningful 

Unless otherwise indicated, the discussion of percent changes below is on an ex-FX basis. The ex-FX percent changes of line items below operating loss in the table above are not included as the activity is principally in U.S. dollars.

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Revenues