Quarterly Financial Information (Tables)

12 Months Ended

Sep. 30, 2020

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information

The following table sets forth the quarterly information for Warner Music Group Corp.


	Three Months Ended
	September 30, 2020		June 30, 2020		March 31, 2020		December 31, 2019
	(in millions, except share data)
Revenues	$	1,126	$	1,010	$	1,071	$	1,256
Costs and expenses:
Cost of revenue	(606)		(527)		(535)		(665)
Selling, general and administrative expenses (a)	(383)		(869)		(538)		(379)
Amortization expense	(49)		(47)		(47)		(47)
Total costs and expenses	(1,038)		(1,443)		(1,120)		(1,091)
Operating income (expense)	88		(433)		(49)		165
Loss on extinguishment of debt	(34)		—		—		—
Interest expense, net	(29)		(32)		(33)		(33)
Other expense	(45)		(3)		(4)		(5)
(Loss) income before income taxes	(20)		(468)		(86)		127
Income tax benefit (expense)	21		(51)		12		(5)
Net income (loss)	1		(519)		(74)		122
Less: Income attributable to noncontrolling interest	(2)		(1)		—		(2)
Net (loss) income attributable to Warner Music Group Corp.	$	(1)	$	(520)	$	(74)	$	120

(a) Includes depreciation expense of:	$	(18)	$	(15)	$	(14)	$	(24)

Net (loss) income per share attributable to common stockholders:
Class A – Basic and Diluted	$	0.00	$	(1.03)	$	—	$	—
Class B – Basic and Diluted	$	0.00	$	(1.03)	$	(0.15)	$	0.24
Weighted average common shares:
Class A – Basic and Diluted	87,280,769		20,307,692		—		—
Class B – Basic and Diluted	422,719,231		483,796,267		501,991,944		501,991,944

Quarterly operating results can be disproportionately affected by a particularly strong or weak quarter. Therefore, these quarterly operating results are not necessarily indicative of the results that may be expected for the full fiscal year.

WARNER MUSIC GROUP CORP.

2019 QUARTERLY FINANCIAL INFORMATION

(unaudited)

The following table sets forth the quarterly information for Warner Music Group Corp.


	Three Months Ended
	September 30, 2019		June 30, 2019		March 31, 2019		December 31, 2018
	(in millions, except share data)
Revenues	$	1,124	$	1,058	$	1,090	$	1,203
Costs and expenses:
Cost of revenue	(639)		(577)		(559)		(626)
Selling, general and administrative expenses (a)	(408)		(372)		(354)		(376)
Amortization expense	(48)		(51)		(55)		(54)
Total costs and expenses	(1,095)		(1,000)		(968)		(1,056)
Operating income	29		58		122		147
Loss on extinguishment of debt	—		(4)		—		(3)
Interest expense, net	(34)		(36)		(36)		(36)
Other income (expense)	19		(16)		29		28
Income before income taxes	14		2		115		136
Income tax benefit (expense)	77		12		(48)		(50)
Net income	91		14		67		86
Less: Income attributable to noncontrolling interest	(1)		(1)		—		—
Net income attributable to Warner Music Group Corp.	$	90	$	13	$	67	$	86

(a) Includes depreciation expense of:	$	(18)	$	(15)	$	(14)	$	(14)

Net income per share attributable to common stockholders:
Class A – Basic and Diluted	$	—	$	—	$	—	$	—
Class B – Basic and Diluted	$	0.18	$	0.03	$	0.13	$	0.17
Weighted average common shares:
Class A – Basic and Diluted	—		—		—		—
Class B – Basic and Diluted	501,991,944		501,991,944		501,991,944		501,991,944