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Warner Bros. Discovery, Inc. WBD Studios — Total content amortization and impairment expense

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Other financials

Income statement

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Revenue$8.7B-11.2%
Gross profit$4.1B+6.5%
Operating income$237.0M+228%
Net income$149.0M-90.6%
EPS (diluted)$0.06-90.5%

Balance sheet

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Cash & equivalents$3.4B-31.1%
Total debt$32.0B+14,390%
Total equity$32.8B-8.9%
Total assets$97.2B-4.4%

Cash flow

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Operating cash flow$848.0M-13.7%
CapEx$276.0M-1.8%
Free cash flow$572.0M-18.5%

Valuation

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Market cap$67.14B+152%
Enterprise value$95.8B+335%
P/S1.9×+1.2×

Profitability

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Gross margin47.2%+4.0pp
Operating margin-3.5%-3.7pp
Net margin1.3%+0.7pp
FCF margin6%-4.5pp

Returns & leverage

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Return on equity1.4%+0.7pp
Debt / equity+1.0×
Current ratio0.8×-0.3×

Where this comes from

Reported directly by Warner Bros. Discovery, Inc. in its filing.

Tagged under the XBRL concept wbd:ContentAmortizationAndWriteoffsIncludingRestructuringCostsAndAssetImpairmentCharges.

The source filing: Warner Bros. Discovery, Inc.’s 10-K, filed February 27, 2026.

Filed
Feb 27, 2026, 5:20 PM EST
Fiscal year
FY2025
Accession
0001437107-26-000020
Line itemYear Ended December 31, 2025Year Ended December 31, 2024Year Ended December 31, 2023
Streaming$5,464$6,416$6,138
Studios3,1065,6925,074
Global Linear Networks6,0934,2506,630
Corporate13(6)
Inter-segment eliminations(2,809)(2,250)(1,697)
Total content amortization and impairment expense$11,855$14,111$16,139

Item 8. Financial Statements and Supplementary Data.

FAQ

What is Warner Bros. Discovery, Inc.'s studios — total content amortization and impairment expense?
Warner Bros. Discovery, Inc. (WBD) reported studios — total content amortization and impairment expense of $776.5M in Q4 2025.
How has Warner Bros. Discovery, Inc.'s studios — total content amortization and impairment expense changed year-over-year?
Warner Bros. Discovery, Inc.'s studios — total content amortization and impairment expense decreased by 45.4% year-over-year, from $1.42B to $776.5M.
What does studios — total content amortization and impairment expense mean?
The total cost recognized for the consumption of film and television content assets, including scheduled amortization and write-downs for content that will not generate expected returns. This is a primary operating expense for studios, reflecting the lifecycle of creative investments.

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