Income StatementBalance SheetCash FlowSegments
Warner Bros. Discovery, Inc. logo

Warner Bros. Discovery, Inc. Cash Flow Statement

Operating, investing, and financing cash movements

Warner Bros. Discovery, Inc. generated $3.6B in operating cash flow over the trailing twelve months. After $1.2B in capital expenditures, free cash flow was $2.3B. Free cash flow decreased 0.5% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$3.6BNet Cash From Investing (TTM)-$1.3BNet Cash From Financing (TTM)-$3.1BCapital Expenditures (TTM)$1.2BDepreciation And Amortization Cf (TTM)$5.4BNet Change In Cash (TTM)$588.0M
Latest FilingQ1 2026
Report Date2026-05-06
Market Cap$67.8B
ROE-5.83%

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other non-cash income (expense)-$60.0M-$17.0M$114.0M-$22.0M-$144.0M-$119.0M
Other non-cash income (expense)-$60.0M-$17.0M$114.0M-$22.0M-$144.0M-$119.0M
Change in accounts payable—-$1.0B$885.0M-$261.0M$510.0M-$1.0B
Other working capital changes$100.0M$24.0M-$587.0M——$209.0M
Deferred income taxes-$381.0M-$312.0M-$159.0M—-$438.0M-$513.0M
Depreciation and amortization$1.6B$1.5B$1.4B$1.4B$1.3B$1.2B
Other Non-Cash Income (Expense)-$60.0M-$17.0M$114.0M-$22.0M-$144.0M-$119.0M
Other Non-cash Income (Expense)-$60.0M-$17.0M$114.0M-$22.0M-$144.0M-$119.0M
Other Non-cash Income (Expense)-$60.0M-$17.0M$114.0M-$22.0M-$144.0M-$119.0M
Net cash from operating activities$2.7B$553.0M$983.0M$979.0M$1.8B-$208.0M
Net income-$640.0M-$449.0M$1.6B-$143.0M—-$2.9B
Other non-cash income (expense)-$60.0M-$17.0M$114.0M-$22.0M-$144.0M-$119.0M
Content rights amortization and impairment$3.1B$3.1B$3.7B$2.2B$2.8B$2.5B
Impairment Charges And Disposal Group, Not Discontinued Operation, Gain (Loss) On Disposal-$191.0M-$90.0M-$26.0M-$46.0M-$10.0M-$14.0M
Increase (Decrease) in Accounts and Notes Receivable-$495.0M-$288.0M$748.0M—$136.0M-$246.0M
Film and television content rights, games, and production payables, net-$2.8B-$2.8B-$3.5B-$2.8B-$2.3B-$2.6B
Netflix Termination Fee accrual (See Note 1)—$0.0———$2.8B
Other Noncash Income (Expense)-$60.0M-$17.0M$114.0M-$22.0M-$144.0M-$119.0M
Other Non-cash Income and Expense-$60.0M-$17.0M$114.0M-$22.0M-$144.0M-$119.0M
Other Non-Cash Adjustments-$60.0M-$17.0M$114.0M-$22.0M-$144.0M-$119.0M
Other Non-Cash Income and Expense-$60.0M-$17.0M$114.0M-$22.0M-$144.0M-$119.0M
Stock-based compensation$138.0M$123.0M$175.0M$242.0M$229.0M$152.0M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Proceeds from commercial paper notes$0.0$695.0M$2.9B$0.0$677.0M$261.0M
Proceeds from Commercial Paper$0.0$695.0M$2.9B$0.0$677.0M$261.0M
Distributions to noncontrolling interests$21.0M$157.0M$17.0M$14.0M$10.0M$129.0M
Principal repayments of finance and other lease obligations$35.5M$50.5M$50.5M$50.5M$50.5M—
Payments To Settle Share Based Awards, Net—$117.0M———$422.0M
Proceeds for the formation of music catalog joint venture$0.0$601.0M———$0.0
Proceeds from Issuance of Commercial Paper$0.0$695.0M$2.9B$0.0$677.0M$261.0M
Borrowings from debt, net of discount and issuance costs—$1.5B———-$16.0M
Other, net$69.0M-$57.0M-$156.0M-$49.0M—-$66.0M
Repayment of commercial paper$0.0$695.0M$2.9B$0.0$677.0M$261.0M
Repayments of Senior Debt$493.0M$3.7B$16.7B$1.3B$1.0B$123.0M
Payment of Deferred Purchase Consideration$69.0M-$57.0M-$156.0M-$49.0M—-$66.0M
Noncontrolling interest transactions and other$69.0M-$57.0M-$156.0M-$49.0M—-$66.0M
Net cash from financing activities-$600.0M-$1.9B$0.0-$1.2B-$1.1B-$756.0M
Noncontrolling Interests Activity and Other$69.0M-$57.0M-$156.0M-$49.0M—-$66.0M

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital expenditures$286.0M$251.0M$281.0M$278.0M$421.0M$268.0M
Payment for (Proceeds from) Other Investing Activity—$7.0M-$14.0M-$85.0M—-$11.0M
Divestiture of businesses, net of cash transferred—$66.0M———$0.0
Proceeds From Divestiture Of Interest In Joint Venture$217.0M$11.0M$43.0M——$0.0
Net cash from investing activities—-$195.0M-$236.0M-$330.0M-$418.0M-$282.0M
Net Payments for or Proceeds from Investments$5.0M$14.0M$12.0M$71.0M$3.0M$25.0M
Proceeds from divestiture of prepaid business—$66.0M———$0.0

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$2.4B$302.0M$702.0M$701.0M$1.4B-$476.0M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash-$195.0M$95.0M$161.0M$0.0$3.0M-$56.0M
Net increase (decrease) in cash$1.9B-$1.4B—-$593.0M—-$1.3B