Company: WBD
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001437107-25-000192
Chunk: 128

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 128
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 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.

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

NOTE 5. SALES OF RECEIVABLES

Revolving Receivables Program During the three months ended June 30, 2025, the Company amended its revolving receivables program to reduce the facility limit to $5,000 million and extend the program to June 2026. The outstanding portfolio of receivables derecognized from our consolidated balance sheet was $4,499 million as of June 30, 2025.The Company recognized $56 million and $92 million for the three and six months ended June 30, 2025, respectively, and $37 million and $88 million for the three and six months ended June 30, 2024, respectively, in selling, general and administrative expenses in the consolidated statements of operations from the revolving receivables program (net of non-designated derivatives). (See Note 9.)The following table presents a summary of receivables sold (in millions).Three Months Ended June 30,Six Months Ended June 30,2025202420252024Gross receivables sold/cash proceeds received$3,991 $3,540 $8,222 $7,496 Collections reinvested under revolving receivables program(4,240)(3,643)(