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Segment Information (Tables)
6 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Schedule of Segment Information 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)
March 31, 2024    
Revenues$1,189 $306 $(1)$1,494 
Adjusted OIBDA
272 82 (42)312 
March 31, 2023
Revenues$1,143 $257 $(1)$1,399 
Adjusted OIBDA
249 76 (39)286 
Recorded
Music
Music
Publishing
Corporate
expenses and
eliminations
Total
Six Months Ended(in millions)
March 31, 2024
Revenues$2,634 $610 $(2)$3,242 
Adjusted OIBDA
684 168 (89)763 
March 31, 2023
Revenues2,382 507 (2)2,887 
Adjusted OIBDA
548 148 (75)621 
Schedule of Components of Adjusted OIBDA to Operating Income
Adjusted OIBDA is not a measure defined by U.S. GAAP but is computed using amounts that are determined in accordance with U.S. GAAP. A reconciliation of the Company’s Adjusted OIBDA to operating income is presented below.
For the Three Months Ended
March 31,
For the Six Months Ended
March 31,
2024202320242023
Operating income$119 $124 $473 $389 
Amortization expense57 61 112 124 
Depreciation expense26 22 52 43 
Restructuring and impairments95 41 95 41 
Transformation initiatives and other related costs19 14 38 26 
Executive transition costs— — 
Net gain on divestitures(14)— (31)(41)
Non-cash stock-based compensation and other related costs10 21 24 36 
Adjusted OIBDA$312 $286 $763 $621