← Warner Music Group Corp.

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income (Loss) Attributable to Parent $25.0m $143.0m $307.0m $256.0m ($475.0m) $304.0m $551.0m $430.0m $435.0m $365.0m
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest $30.0m $149.0m $312.0m $258.0m ($470.0m) $307.0m $555.0m $439.0m $478.0m $370.0m
Net Income (Loss) Attributable to Noncontrolling Interest $5.0m $6.0m $5.0m $2.0m $5.0m $3.0m $4.0m $9.0m $43.0m $5.0m
Depreciation, Depletion and Amortization $293.0m $251.0m $261.0m $269.0m $261.0m $306.0m $339.0m $332.0m $327.0m $376.0m
Amortization of Debt Issuance Costs and Discounts $11.0m $8.0m $6.0m $6.0m $5.0m $5.0m $6.0m $2.0m $6.0m $7.0m
Amortization of Intangible Assets $243.0m $201.0m $206.0m $208.0m $190.0m $229.0m $263.0m $245.0m $224.0m $258.0m
Depreciation $50.0m $50.0m $55.0m $61.0m $71.0m $77.0m $76.0m $87.0m $103.0m $118.0m
Deferred Income Tax Expense (Benefit) ($26.0m) ($192.0m) $66.0m ($68.0m) ($57.0m) $27.0m $13.0m ($13.0m) ($48.0m) ($90.0m)
Share-based Payment Arrangement, Noncash Expense — $70.0m $62.0m $50.0m $608.0m $45.0m $39.0m $49.0m — —
Payment, Tax Withholding, Share-based Payment Arrangement — — — — — — $6.0m $0 $5.0m $20.0m
Share-based Payment Arrangement, Expense $23.0m $70.0m $62.0m $50.0m $608.0m $45.0m $39.0m $49.0m $52.0m $54.0m
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount — — — — — — — $1.0m $1.0m $1.0m
Goodwill, Impairment Loss — — — — — — — — — $4.0m
Impairment of Intangible Assets (Excluding Goodwill) — — — — — — — — $50.0m —
Operating Lease, Impairment Loss — — — — — — — — — $20.0m
Restructuring Costs and Asset Impairment Charges — — — — — — — — $177.0m —
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property $24.0m — — — — — — — — —
Gain (Loss) on Disposition of Business $9.0m — — — — — — $41.0m $32.0m $0
Gain (Loss) on Extinguishment of Debt ($18.0m) ($35.0m) ($31.0m) ($7.0m) ($34.0m) ($22.0m) $0 ($4.0m) $0 $0
Income (Loss) from Equity Method Investments — $1.0m — $0 — — — — — —
Income Tax Expense (Benefit) $11.0m ($151.0m) $130.0m $9.0m $23.0m $149.0m $185.0m $170.0m $123.0m $120.0m
Operating Lease, Expense — — — — — $16.0m $23.0m $25.0m $26.0m $21.0m
Other Nonoperating Income (Expense) $18.0m ($40.0m) $394.0m $60.0m ($57.0m) ($9.0m) $151.0m ($36.0m) ($61.0m) ($42.0m)
Changes in operating assets and liabilities:
Additional Financial Items
Increase (Decrease) in Accounts Receivable ($17.0m) $60.0m $43.0m $90.0m ($18.0m) $58.0m $195.0m $113.0m $110.0m $61.0m
Increase (Decrease) in Inventories — ($1.0m) $3.0m ($3.0m) $2.0m $19.0m $22.0m $12.0m ($30.0m) $11.0m
Debt and Equity Securities, Unrealized Gain (Loss) — — — — — $17.0m — — — —
Equity Securities, FV-NI, Unrealized Gain (Loss) — — — — — — — $2.0m $4.0m —
Foreign Currency Transaction Gain (Loss), before Tax — ($24.0m) $3.0m $28.0m ($54.0m) ($3.0m) $169.0m ($38.0m) ($68.0m) ($70.0m)
General and Administrative Expense — — — — — — — — — $1.1b
Goodwill $1.6b $1.7b $1.7b $1.8b $1.8b $1.8b $1.9b $2.0b $2.0b $2.1b
Payments of Financing Costs $10.0m — — — — — — — — —
Pension Cost (Reversal of Cost) $4.0m $4.0m $4.0m $4.0m $4.0m $4.0m $3.0m $3.0m $3.0m $3.0m
Restructuring Costs — — — — — — — — $7.0m —
Net Cash Provided by (Used in) Operating Activities $342.0m $535.0m $425.0m $400.0m $463.0m $638.0m $742.0m $687.0m $754.0m $678.0m
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment $42.0m $44.0m $74.0m $104.0m $85.0m $93.0m $135.0m $127.0m $116.0m $139.0m
Payments to Acquire Businesses, Net of Cash Acquired $28.0m $139.0m $23.0m $231.0m $94.0m $64.0m $509.0m $126.0m $40.0m $46.0m
Gain (Loss) on Sale of Investments ($9.0m) $17.0m $389.0m — — — $46.0m ($3.0m) $6.0m $27.0m
Net Cash Provided by (Used in) Investing Activities ($8.0m) ($126.0m) $405.0m ($376.0m) ($219.0m) ($638.0m) ($824.0m) ($300.0m) ($311.0m) ($340.0m)
Cash flows from financing activities:
Repayments of Long-term Debt $309.0m — — — — — — — — —
Payments for Repurchase of Common Stock — — — — — — — — — $16.0m
Proceeds from (Payments to) Noncontrolling Interests ($5.0m) ($5.0m) ($5.0m) — — — — — — —
Dividends paid — $84.0m $925.0m $93.8m $344.0m $265.0m $318.0m $340.0m $361.0m $383.0m
Proceeds from (Payments for) Other Financing Activities — — — — — — ($5.0m) ($1.0m) $0 —
Net Cash Provided by (Used in) Financing Activities ($216.0m) ($128.0m) ($955.0m) $88.0m ($316.0m) ($61.0m) $188.0m ($325.0m) ($396.0m) ($497.0m)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents ($5.0m) $7.0m ($8.0m) ($7.0m) $6.0m $7.0m ($21.0m) ($5.0m) $6.0m $0
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect ($5.0m) $7.0m ($133.0m) $105.0m ($66.0m) ($54.0m) $85.0m $57.0m $53.0m ($162.0m)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — — — $553.0m $499.0m $584.0m $641.0m $694.0m $532.0m
Supplemental disclosure of cash flow information:
Interest Paid, Excluding Capitalized Interest, Operating Activities — — $148.0m $138.0m $128.0m $137.0m $122.0m $157.0m $183.0m $167.0m
Income Taxes Paid, Net $41.0m $40.0m $49.0m $63.0m $81.0m $124.0m $141.0m $219.0m $135.0m $181.0m

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.