Company: WBD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001437107-25-000096
Chunk: 99

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 99
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In production and other1,700 2,008 3,708 Total production costs$5,442 $8,453 $13,895 Licensed content, live programming, and advances, net5,744 Game development costs, less amortization247 Total film and television content rights and games19,886 Less: Current content rights and prepaid license fees, net(784)Total noncurrent film and television content rights and games$19,102 Content amortization consisted of the following (in millions).Three Months Ended March 31,20252024Predominantly monetized individually$580 $922 Predominantly monetized as a group2,530 2,779 Total content amortization$3,110 $3,701 Content expense includes amortization, impairments, and development expense and is generally a component of costs of revenues on the consolidated statements of operations. Content impairments were $35 million and $126 million, for the three months ended March 31, 2025 and 2024, respectively.

14

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

NOTE 7. INVESTMENTS

The Company’s equity investments consisted of the following, net of investments recorded in other noncurrent liabilities (in millions).CategoryBalance Sheet LocationOwnershipMarch 31, 2025December 31, 2024Equity method investments:The Chernin Group (TCG) 2.0-A, LPOther noncurrent assets44%$242 $240 nC+Other noncurrent assets32%141 128 TNT SportsOther noncurrent assets50%83 92 OtherOther noncurrent assets248 261 Total equity method investments714 721 Investments with readily determinable fair valuesOther noncurrent assets42 41 Investments without readily determinable fair valuesOther noncurrent assets(a)344 353 Total investments$1,100 $1,115 (a) Investments without readily determinable fair values included $17 million as of March 31, 2025 and December 31, 2024 that was recorded in prepaid expenses and other current assets. Equity Method InvestmentsCertain of the Company’s other equity method investments are VIEs, for which the Company is not the primary beneficiary. As of March 31, 2025, the Company’s maximum exposure for all of its unconsolidated V