XML 48 R29.htm IDEA: XBRL DOCUMENT
v3.23.3

Segment Information | 12 Months Ended
--- | ---
Sep. 30, 2023
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
| (in millions)
2023 |  |  |  |  |  |  |
Revenues | $ | 4,955 |  |  | $ | 1,088 |  |  | $ | (6) |  |  | $ | 6,037 |
Operating income (loss) | 875 |  |  | 200 |  |  | (285) |  |  | 790 |
Amortization of intangible assets | 155 |  |  | 90 |  |  | — |  |  | 245 |
Depreciation of property, plant and equipment | 50 |  |  | 3 |  |  | 34 |  |  | 87 |
OIBDA | 1,080 |  |  | 293 |  |  | (251) |  |  | 1,122 |
Total assets | 4,677 |  |  | 2,781 |  |  | 1,087 |  |  | 8,545 |
Capital expenditures | 39 |  |  | 1 |  |  | 87 |  |  | 127 |
2022 |  |  |  |  |  |  |
Revenues | $ | 4,966 |  |  | $ | 958 |  |  | $ | (5) |  |  | $ | 5,919 |
Operating income (loss) | 796 |  |  | 139 |  |  | (221) |  |  | 714 |
Amortization of intangible assets | 176 |  |  | 87 |  |  | — |  |  | 263 |
Depreciation of property, plant and equipment | 51 |  |  | 5 |  |  | 20 |  |  | 76 |
OIBDA | 1,023 |  |  | 231 |  |  | (201) |  |  | 1,053 |
Total assets | 3,515 |  |  | 2,954 |  |  | 1,359 |  |  | 7,828 |
Capital expenditures | 52 |  |  | 1 |  |  | 82 |  |  | 135 |
2021 |  |  |  |  |  |  |
Revenues | $ | 4,544 |  |  | $ | 761 |  |  | $ | (4) |  |  | $ | 5,301 |
Operating income (loss) | 733 |  |  | 89 |  |  | (213) |  |  | 609 |
Amortization of intangible assets | 150 |  |  | 79 |  |  | — |  |  | 229 |
Depreciation of property, plant and equipment | 53 |  |  | 6 |  |  | 18 |  |  | 77 |
OIBDA | 936 |  |  | 174 |  |  | (195) |  |  | 915 |
Capital expenditures | 33 |  |  | 1 |  |  | 59 |  |  | 93 |
Revenues relating to operations in different geographical areas are set forth below for the fiscal years ended September 30, 2023, September 30, 2022 and September 30, 2021. Total long-lived assets relating to operations in different geographical areas, which consist of property, plant and equipment, net and operating lease right-of-use assets, net, are set forth below as of September 30, 2023 and September 30, 2022.
| 2023 |  | 2022 |  | 2021
| Revenues |  | Long-lived Assets |  | Revenues |  | Long-lived Assets |  | Revenues
| (in millions)
United States | $ | 2,766 |  |  | $ | 473 |  |  | $ | 2,744 |  |  | $ | 468 |  |  | $ | 2,363 |
United Kingdom | 726 |  |  | 39 |  |  | 734 |  |  | 30 |  |  | 620 |
Germany | 535 |  |  | 98 |  |  | 613 |  |  | 68 |  |  | 662 |
All other territories | 2,010 |  |  | 93 |  |  | 1,828 |  |  | 75 |  |  | 1,656 |
Total | $ | 6,037 |  |  | $ | 703 |  |  | $ | 5,919 |  |  | $ | 641 |  |  | $ | 5,301 |
Customer Concentration In the fiscal year ended September 30, 2023, the Company had three customers, Spotify, YouTube and Apple, that individually represented 10% or more of total revenues, whereby Spotify AB represented 18%, YouTube represented 12% and Apple represented 11% of total revenues. In the fiscal year ended September 30, 2022, the Company had three customers, Spotify, Apple and YouTube, that individually represented 10% or more of total revenues, whereby Spotify represented 17%, YouTube represented 12% and Apple represented 11% of total revenues. In the fiscal year ended September 30, 2021, the Company had three customers, Spotify, Apple and YouTube that individually represented 10% or more of total revenues, whereby Spotify represented 18%, Apple represented 13% and YouTube represented 11% of total revenues. These customers’ revenues are included in both the Company’s Recorded Music and Music Publishing segments and the Company expects that the Company’s license agreements with these customers will be renewed in the normal course of business.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration