Company: WBD
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001437107-25-000216
Chunk: 122

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 122
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 government and any retaliatory tariffs from foreign governments;•content licensing trends and volatility related to the performance of theatrical film and game slates in the Company’s Studios reporting unit; and•risks in executing the projected growth strategies of the Company’s Streaming reporting unit.

NOTE 3. RESTRUCTURING AND OTHER CHARGES

The Company periodically initiates restructuring programs, which may include, among other things, strategic content programming assessments, organizational restructuring, facility consolidation activities, and other contract termination costs. During 2025, the Company initiated restructuring plans related to the announced Separation. During 2024, the Company initiated two restructuring initiatives; an organizational and personnel restructuring plan and a restructuring initiative associated with its Warner Bros. Games group.Restructuring and other charges by reportable segments and corporate and inter-segment eliminations were as follows (in millions). Three Months Ended September 30,Nine Months Ended September 30, 2025202420252024Streaming$1 $(16)$20 $1 Studios12 2 6 32 Global Linear Networks16 5 57 58 Corporate and inter-segment eliminations59 18 139 70 Total restructuring and other charges$88 $9 $222 $161 During the three and nine months ended September 30, 2025 and 2024, restructuring and other charges were primarily related to organization restructuring costs and consulting fees.Changes in restructuring liabilities recorded in accounts payable, accrued liabilities, and other noncurrent liabilities by major category and by reportable segment and corporate were as follows (in millions).StreamingStudiosGlobal Linear NetworksCorporateTotalDecember 31, 2024$31 $95 $105 $58 $289 Contract termination accruals, net— — — 1 1 Employee termination accruals, net19 6 54 41 120 Other accruals and adjustments1 — 3 97 101 Cash paid(32)(52)(81)(71)(236)September 30, 2025$19 $49 $81 $126 $275 

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

NOTE 4. REVENUES

The following tables present the Company’s revenues disaggregated by revenue source (in millions).Three Months Ended September 30, 2025StreamingStudiosGlobal Linear NetworksCorporate and