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Segment Information
9 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Segment Information Segment Information
As discussed more fully in Note 1, based on the nature of its products and services, the Company classifies its business interests into two fundamental operations: Recorded Music and Music Publishing, which also represent the reportable segments of the Company. Information as to each of these operations is set forth below. The Company evaluates performance based on several factors, of which the primary financial measure is operating income (loss) before non-cash depreciation of tangible assets and non-cash amortization of intangible assets (“OIBDA”). The Company has supplemented its analysis of OIBDA results by segment with an analysis of operating income (loss) by segment.
The accounting policies of the Company’s business segments are the same as those described in the summary of significant accounting policies included elsewhere herein. The Company accounts for intersegment sales at fair value as if the sales were to third parties. While intercompany transactions are treated like third-party transactions to determine segment performance, the revenues (and corresponding expenses recognized by the segment that is counterparty to the transaction) are eliminated in consolidation, and therefore, do not themselves impact consolidated results.
Recorded
Music
Music
Publishing
Corporate
expenses and
eliminations
Total
Three Months Ended(in millions)
June 30, 2020    
Revenues$861  $149  $—  $1,010  
Operating income (loss)(160) 14  (287) (433) 
Amortization of intangible assets30  17  —  47  
Depreciation of property, plant and equipment11    15  
OIBDA(119) 33  (285) (371) 
June 30, 2019
Revenues$913  $147  $(2) $1,058  
Operating income (loss)85  18  (45) 58  
Amortization of intangible assets34  17  —  51  
Depreciation of property, plant and equipment12    15  
OIBDA131  36  (43) 124  
Recorded
Music
Music
Publishing
Corporate
expenses and
eliminations
Total
Nine Months Ended(in millions)
June 30, 2020
Revenues$2,852  $488  $(3) $3,337  
Operating income (loss)67  58  (442) (317) 
Amortization of intangible assets89  52  —  141  
Depreciation of property, plant and equipment42    53  
OIBDA198  114  (435) (123) 
June 30, 2019
Revenues$2,887  $470  $(6) $3,351  
Operating income (loss)382  67  (122) 327  
Amortization of intangible assets109  51  —  160  
Depreciation of property, plant and equipment31    43  
OIBDA522  122  (114) 530