XML 15 R4.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2024
Mar. 31, 2023
Revenue $ 1,494 $ 1,399 $ 3,242 $ 2,887
Costs and expenses:        
Cost of revenue (791) (721) (1,671) (1,482)
Selling, general and administrative expenses [1] (446) (452) (922) (892)
Restructuring and impairments (95) (41) (95) (41)
Amortization expense (57) (61) (112) (124)
Total costs and expenses (1,389) (1,275) (2,800) (2,539)
Net loss (gain) on divestitures 14 0 31 41
Operating income 119 124 473 389
Interest expense, net (42) (35) (81) (67)
Other income (expense) 37 (31) (13) (92)
Income before income taxes 114 58 379 230
Income tax expense (18) (21) (90) (69)
Net income 96 37 289 161
Less: Income attributable to noncontrolling interest 0 (3) (34) (5)
Net income attributable to Warner Music Group Corp. 96 34 255 156
Class A Common Stock        
Costs and expenses:        
Net income attributable to Warner Music Group Corp. $ 27 $ 10 $ 71 $ 43
Net income per share attributable to common stockholders:        
Basic (in dollars per share) $ 0.18 $ 0.06 $ 0.49 $ 0.30
Diluted (in dollars per share) $ 0.18 $ 0.06 $ 0.49 $ 0.30
Weighted average common shares:        
Basic (in shares) 141,044,000 138,257,000 140,013,000 137,841,000
Diluted (in shares) 141,044,000 138,257,000 140,013,000 137,841,000
Class B Common Stock        
Costs and expenses:        
Net income attributable to Warner Music Group Corp. $ 69 $ 24 $ 184 $ 113
Net income per share attributable to common stockholders:        
Basic (in dollars per share) $ 0.18 $ 0.06 $ 0.49 $ 0.30
Diluted (in dollars per share) $ 0.18 $ 0.06 $ 0.49 $ 0.30
Weighted average common shares:        
Basic (in shares) 376,800,000 377,650,000 377,145,000 377,650,000
Diluted (in shares) 376,800,000 377,650,000 377,145,000 377,650,000
[1]
Includes depreciation expense of $(26), $(22), for the three months ended March 31, 2024 and March 31, 2023, respectively, and $(52) and $(43) for the six months ended March 31, 2024 and March 31, 2023, respectively.