Company: WBD
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437107-25-000192
Chunk: 175

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 175
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 which may require the use of cash in the event holders of noncontrolling interests put their interests to us. Distributions to noncontrolling interests and redeemable noncontrolling interests totaled $174 million and $161 million for the six months ended June 30, 2025 and 2024, respectively.

•Income Taxes and Interest

We expect to continue to make payments for income taxes and interest on our outstanding senior notes. During the six months ended June 30, 2025, we made cash payments of $974 million and $1,275 million for income taxes and interest on our outstanding debt, respectively.

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Cash Flows

The following table presents changes in cash and cash equivalents (in millions). Six Months Ended June 30, 20252024Cash, cash equivalents, and restricted cash, beginning of period$5,416 $4,319 Cash provided by operating activities1,536 1,813 Cash used in investing activities(431)(137)Cash used in financing activities(1,886)(2,274)Effect of exchange rate changes on cash, cash equivalents, and restricted cash256 (104)Net change in cash, cash equivalents, and restricted cash(525)(702)Cash, cash equivalents, and restricted cash, end of period$4,891 $3,617 

Operating Activities

Cash provided by operating activities was $1,536 million and $1,813 million during the six months ended June 30, 2025 and 2024, respectively. The decrease in cash provided by operating activities was primarily attributable to a decrease in net income, excluding non-cash items, partially offset by an improvement in working capital activity.

Investing Activities

Cash used in investing activities was $431 million and $137 million during the six months ended June 30, 2025 and 2024, respectively. The increase in cash used in investing activities was primarily attributable to reduced proceeds from the sale of investments and increased purchases of property and equipment during the six months ended June 30, 2025.

Financing Activities

Cash used in financing activities was $1,886 million and $2,274 million during the six months ended June 30, 2025 and 2024, respectively. The decrease in cash used in financing activities was primarily attributable to proceeds received for the contribution of 70% of our music catalog to a joint venture during the six months ended June 30, 2025.

Capital Resources

As of