Company: WBD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001437107-25-000096
Chunk: 133

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 133
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, we have $487 million of senior notes coming due in June 2025, and an additional $2,293 million of senior notes coming due through March 2026.

We may from time to time seek to prepay, retire or purchase our other outstanding indebtedness through prepayments, redemptions, open market purchases, privately negotiated transactions, tender offers or otherwise. Any such repurchases or exchanges will be dependent upon several factors, including our liquidity requirements, contractual restrictions, general market conditions, as well as applicable regulatory, legal and accounting factors. Whether or not we repurchase or exchange any debt and the size and timing of any such repurchases or exchanges will be determined at our discretion.

•Capital Expenditures

We effected capital expenditures of $251 million during the three months ended March 31, 2025, including amounts capitalized to support Max. In addition, we expect to continue to incur significant costs to develop and market Max.

•Investments and Business Combinations

Our uses of cash have included investments in equity method investments and equity investments without readily determinable fair value. (See Note 7 to the accompanying consolidated financial statements.) We also provide funding to our investees from time to time. During the three months ended March 31, 2025, we contributed $14 million for investments in and advances to our investees.

•Redeemable Noncontrolling Interest and Noncontrolling Interest

We had redeemable equity balances of $23 million at March 31, 2025, 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 $157 million and $130 million for the three months ended March 31, 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 three months ended March 31, 2025, we made cash payments of $131 million and $822 million for income taxes and interest on our outstanding debt, respectively.

Cash Flows

The following table presents changes in cash and cash equivalents (in millions). Three Months Ended March 31, 20252024Cash, cash equivalents, and restricted cash, beginning of period$5,416 $4,319 Cash provided by operating activities553 585 Cash used in investing activities(195)(207)Cash used in financing activities