Warner Music Group Corp. (WMG) Financial Statements (2024 and earlier)

Company Profile

Business Address 1633 BROADWAY
NEW YORK, NY 10019
State of Incorp. DE
Fiscal Year End September 30
Industry (SIC) 79 - Amusement And Recreation Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

3/31/2024
MRQ
12/31/2023
MRQ
9/30/2023
9/30/2022
9/30/2021
9/30/2020
9/30/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments754641584499553619
Cash and cash equivalents754641584499553619
Receivables1,1951,120984839771775
Inventory, net of allowances, customer advances and progress billings106126108997974
Inventory106126108997974
Advance royalties453413372373220170
Other undisclosed current assets10810291865553
Total current assets:2,6162,4022,1391,8961,6781,691
Noncurrent Assets
Operating lease, right-of-use asset242245226268273 
Property, plant and equipment466458415364331300
Intangible assets, net (including goodwill)4,5564,4954,3044,0013,6383,635
Goodwill2,0151,9931,9201,8301,8311,761
Intangible assets, net (excluding goodwill)2,5412,5022,3842,1711,8071,874
Advance royalties755688503457269208
Deferred income tax assets313229316838
Other noncurrent assets325225212194153145
Total noncurrent assets:6,3756,1435,6895,3154,7324,326
TOTAL ASSETS:8,9918,5457,8287,2116,4106,017
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities784833742777676786
Interest and dividends payable17143034
Accounts payable246300268302264260
Accrued liabilities538533457461382492
Deferred revenue305371423348297180
Deferred compensation liability      108
Other liabilities1245724510280286
Other undisclosed current liabilities2,5322,2781,9581,9231,6671,459
Total current liabilities:3,7453,5393,3683,1502,7202,819
Noncurrent Liabilities
Long-term debt and lease obligation4,0043,9643,9733,6333,4032,974
Long-term debt, excluding current maturities4,0043,9643,7323,3463,1042,974
Liabilities, other than long-term debt626612319382332493
Deferred income tax liabilities223216220207163172
Other liabilities15414199175169321
Operating lease, liability249255241287299 
Total noncurrent liabilities:4,6304,5764,2924,0153,7353,467
Total liabilities:8,3758,1157,6607,1656,4556,286
Equity
Equity, attributable to parent, including:46330715231(63)(289)
Additional paid in capital2,0392,0151,9751,9421,9071,128
Accumulated other comprehensive loss(260)(322)(347)(202)(222)(240)
Accumulated deficit(1,317)(1,387)(1,477)(1,710)(1,749)(1,177)
Other undisclosed equity, attributable to parent11111 
Equity, attributable to noncontrolling interest15312316151820
Total equity:61643016846(45)(269)
TOTAL LIABILITIES AND EQUITY:8,9918,5457,8287,2116,4106,017

Income Statement (P&L) ($ in millions)

3/31/2024
TTM
12/31/2023
TTM
9/30/2023
9/30/2022
9/30/2021
9/30/2020
9/30/2019
Revenues6,2976,0375,9195,3014,4634,475
Cost of revenue(3,313)(3,218)(3,080)(2,742)(2,333)(2,401)
Cost of goods and services sold(3,296)(3,177)(3,080)(2,742)(2,333)(2,401)
Gross profit:2,9842,8192,8392,5592,1302,074
Operating expenses(2,122)(2,070)(2,125)(1,950)(2,359)(1,718)
Other undisclosed operating income1741    
Operating income (loss):879790714609(229)356
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
(25)(36)151(9)(57)60
Interest and debt expense(87)(4) (22)(34)(7)
Income (loss) from continuing operations before equity method investments, income taxes:767750865578(320)409
Other undisclosed loss from continuing operations before income taxes(65)(141)(125)(122)(127)(142)
Income (loss) from continuing operations before income taxes:702609740456(447)267
Income tax expense(194)(170)(185)(149)(23)(9)
Income (loss) from continuing operations:508439555307(470)258
Income (loss) before gain (loss) on sale of properties:555307(470)258
Net income (loss):508439555307(470)258
Net loss attributable to noncontrolling interest(41)(9)(4)(3)(5)(2)
Net income (loss) available to common stockholders, diluted:467430551304(475)256

Comprehensive Income ($ in millions)

3/31/2024
TTM
12/31/2023
TTM
9/30/2023
9/30/2022
9/30/2021
9/30/2020
9/30/2019
Net income (loss):508439555307(470)258
Other comprehensive income (loss)1625(145)2018(50)
Comprehensive income (loss):524464410327(452)208
Comprehensive loss, net of tax, attributable to noncontrolling interest(41)(9)(4)(3)(5)(2)
Comprehensive income (loss), net of tax, attributable to parent:483455406324(457)206

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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