Company: WBD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001437107-25-000096
Chunk: 24

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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ITEM 1. Unaudited Financial Statements.

WARNER BROS. DISCOVERY, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited; in millions, except per share amounts)

 Three Months Ended March 31, 20252024Revenues:Distribution$4,886 $4,985 Advertising1,980 2,148 Content1,866 2,558 Other247 267 Total revenues8,979 9,958 Costs and expenses:Costs of revenues, excluding depreciation and amortization5,131 6,058 Selling, general and administrative2,194 2,232 Depreciation and amortization1,547 1,888 Restructuring and other charges54 35 Impairments and loss on dispositions90 12 Total costs and expenses9,016 10,225 Operating loss(37)(267)Interest expense, net(468)(515)(Loss) gain on extinguishment of debt(4)25 Loss from equity investees, net(7)(48)Other income (expense), net82 (14)Loss before income taxes(434)(819)Income tax expense(15)(136)Net loss(449)(955)Net income attributable to noncontrolling interests(8)(7)Net loss (income) attributable to redeemable noncontrolling interests4 (4)Net loss available to Warner Bros. Discovery, Inc.$(453)$(966)Net loss per share available to Warner Bros. Discovery, Inc. Series A common stockholders:Basic$(0.18)$(0.40)Diluted$(0.18)$(0.40)Weighted average shares outstanding:Basic2,462 2,443 Diluted2,462 2,443 The accompanying notes are an integral part of these consolidated financial statements.

4

WARNER BROS. DISCOVERY, INC.CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME(unaudited; in millions)

Three Months Ended March 31,20252024Net loss$(449)$(955)Other comprehensive income (loss):Currency translation, net of income tax (expense) benefit of $(90) and $7231 (176)DerivativesChange in net unrealized gains9 13 Less: Reclassification adjustment for net gains included in net income (13)(9)Net change, net of income tax (