Company: WBD
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437107-25-000192
Chunk: 42

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 42
---
 Ended June 30, 2024StreamingStudiosGlobal Linear NetworksCorporate and Inter-segment EliminationsTotalRevenues:Distribution$4,387 $8 $5,472 $(3)$9,864 Advertising415 4 4,201 (42)4,578 Content222 4,860 563 (978)4,667 Other4 398 161 (1)562 Total$5,028 $5,270 $10,397 $(1,024)$19,671 Contract Liabilities and Contract AssetsThe following table presents contract liabilities on the consolidated balance sheets (in millions).CategoryBalance Sheet LocationJune 30, 2025December 31, 2024Contract liabilitiesDeferred revenues$1,527 $1,569 Contract liabilitiesOther noncurrent liabilities231 206 For the six months ended June 30, 2025 and 2024, respectively, revenues of $1,003 million and $1,046 million were recognized that were included in deferred revenues as of December 31, 2024 and December 31, 2023, respectively. Contract assets were not material as of June 30, 2025 and December 31, 2024.Remaining Performance ObligationsThe following table presents a summary of revenue expected to be recognized from remaining performance obligations by contract type (in millions).Contract TypeJune 30, 2025DurationDistribution - fixed price or minimum guarantee$2,048 Through 2030Content licensing and sports sublicensing4,678 Through 2032Brand licensing3,012 Through 2052Advertising648 Through 2030Other144 Through 2029Total$10,530 The value of unsatisfied performance obligations disclosed above does not include: (i) contracts involving variable consideration for which revenues are recognized in accordance with the sales or usage-based royalty exception, which typically have a similar duration as the contracts disclosed above, and (ii) contracts with an original expected length of one year or less, such as most advertising contracts; however for content licensing revenues, including revenues associated with the licensing of theatrical and television product for television and streaming services, the Company has included all contracts regardless of duration.

13

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

NOTE 5. SALES OF RECEIVABLES

Revolving Receivables Program During the three