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Warner Music Group Cash Flow Statement

Operating, investing, and financing cash movements

Based on the Q2 2026 filing.

Net Cash From Operating (TTM)$843.0MNet Cash From Investing (TTM)-$661.0MNet Cash From Financing (TTM)-$80.0MCapital Expenditures (TTM)$114.0MDepreciation And Amortization Cf (TTM)$402.0MNet Change In Cash (TTM)-$59.0M
Latest FilingQ2 2026
Report Date2026-05-07
ROE107.89%

Investing

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Acquisitions, net of cash acquired$40M$6M——$12M$17M
Capital expenditures$36M$36M$39M$28M$20M$27M
Payments to Acquire Intangible Assets$41M$79M$32M$43M$30M$427M
Sales of and distributions from equity method investments$36M——$4M$0$0
Net cash from investing activities-$81M-$121M-$71M-$67M-$52M-$471M
Proceeds from sales of equity securities$36M——$4M$0$0
Proceeds from sale of businesses$0$0$0$0$10M—
Purchases of intangible assets$41M$79M$32M$43M$30M$427M

Operating

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Amortization of debt issuance costs$2M$1M$1M$3M$1M$3M
Change in accounts payable-$183M—-$72M—-$34M-$1M
Change in accounts receivable-$24M-$10M$55M$40M$33M$142M
Change in deferred revenue$66M$3M—$16M-$44M$210M
Change in inventories-$10M$1M$9M$11M-$12M—
Change in operating lease liabilities-$3.8M-$3.8M-$3.8M-$3.8M——
Change in other assets-$3M—$2M-$4M-$7M-$1M
Other working capital changes-$16M$39M$42M—$3M$31M
Deferred income taxes$23M$1M-$17M-$97M$25M$14M
Depreciation and amortization$86M$90M$96M$104M$99M$103M
Gain (loss) on sale of assets$0$0$0$27M-$5M$0
Impairment charges$26M$6M$70M—$9M$2M
Loss on extinguishment of debt—$0———-$7M
Net cash from operating activities$332M$69M$46M$231M$440M$126M
Non-cash interest expense$2M$1M$1M$3M$1M$3M
Asset write-downs$26M$6M$70M—$9M$2M
Employee retirement benefits$13M$14M$16M$11M$19M$12M
Foreign currency remeasurement (loss) gain on debt$120M—-$124M—-$3M$44M
Gain (Loss) on Disposition of Business, Rounded$0$0$0$0——
Gain on sale of business and assets$0$0$0$0-$5M$0
Gain (Loss) on Sale of Investments$28M———-$1M—
Increase Decrease In Interest Payable Net$24M—$2M—$8M-$12M
Operating lease liabilities-$2M-$3M-$7M—$2M-$3M
Operating lease liabilities-$3.8M-$3.8M-$3.8M-$3.8M——
Increase (Decrease) in Prepaid Royalties$42M$85M$168M$17M$7M$65M
Increase Decrease In Royalties Payable$173M—$163M—$195M—
Non-cash impairments and restructuring$34.8M$34.8M$34.8M$34.8M——
Pension and postretirement benefit expense$13M$14M$16M$11M$19M$12M

Financing

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Contributions from noncontrolling interests$0$0——$5M$129M
Proceeds from issuance of debt$0$0——$4M$366M
Distributions to noncontrolling interests$7M$1M$0$7M$4M$3M
Dividends paid$94M$95M$94M$100M$100M$100M
Payments for Repurchase of Redeemable Noncontrolling Interest$9.3M$9.3M$9.3M$9.3M——
Payments Of Debt Issuance Costs$0$0$0$2M$8M$4M
Payments to Noncontrolling Interests$7M$1M$0$7M$4M$3M
Other, net-$5M-$2M——$0$0
Net cash from financing activities-$127M-$121M-$96M-$153M-$159M$328M
Other financing activities$17M$6M——$25M$17M
Payment of debt issuance costs$0$0$0$2M$8M$4M
Repurchases of common stock$2M$0$1M$13M$26M$22M
Taxes paid for net share settlement$2M$17M$0$1M$5M$21M

Free Cash Flow

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Free cash flow$296M$33M$7M$203M$420M$99M

Other

MetricQ1 '25Q2 '25Q3 '25Q4 '25Q1 '26Q2 '26
Effect of exchange rate changes on cash-$16M$8M$11M-$3M$3M-$5M
Net increase (decrease) in cash$108M-$165M-$110M$0$216M—
Cash balances classified as assets held for sale-$750K-$750K-$750K-$750K——
Cash and cash equivalents classified as assets held for sale$0$0——-$16M—
Proceeds from secured term loan——$0———