Analysis of Debt
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- Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Selected Financial Data since 2008
- Net Profit Margin since 2008
- Debt to Equity since 2008
- Price to Sales (P/S) since 2008
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Total Debt (Carrying Amount)
Warner Bros. Discovery Inc., balance sheet: debt
US$ in millions
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
- Current Portion of Debt
- The current portion of debt exhibited significant volatility over the period analyzed. It surged sharply from US$30 million in 2017 to a peak of US$1,860 million in 2018, followed by a substantial decline to US$609 million in 2019. The downward trend continued through 2020 and 2021, settling at US$335 million and US$339 million respectively. This fluctuation suggests a considerable debt restructuring or refinancing activity occurring during the 2017-2019 timeframe, stabilizing thereafter.
- Noncurrent Portion of Debt
- The noncurrent portion of debt maintained relative stability, with figures consistently around the US$14 billion to US$15 billion mark. After a slight increase from US$14,755 million in 2017 to US$15,185 million in 2018, there was a gradual decline for the following three years, reaching US$14,420 million in 2021. This gradual decrease may reflect scheduled debt repayments, refinancing, or amortization over time without significant new debt issuance in this category.
- Finance Lease Liabilities, Current
- Current finance lease liabilities appeared in the records starting in 2019 at US$47 million and showed a slight upward trend over the next two years, rising to US$57 million in 2020 and US$58 million in 2021. This indicates a growing obligation under short-term lease agreements during the recent years.
- Finance Lease Liabilities, Noncurrent
- Noncurrent finance lease liabilities were first reported in 2019 at US$203 million, then decreased slightly to US$184 million in 2020, before increasing again to US$197 million in 2021. The relatively stable values suggest consistent long-term leasing commitments without major changes in obligations.
- Total Debt and Finance Lease Liabilities (Carrying Amount)
- The total reported debt and finance lease liabilities peaked in 2018 at US$17,045 million, coinciding with the spike in current debt. Subsequently, the total amount declined to US$15,669 million in 2019, stabilizing near US$15 billion in the following years with a minor decrease to US$15,014 million in 2021. Overall, the total debt load presents a reducing trend after a notable spike in 2018, reflecting possible debt repayments, restructuring, or strategic management of overall liabilities.
Total Debt (Fair Value)
| Dec 31, 2021 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Senior notes | |
| Revolving credit facility | |
| Program financing line of credit, quarterly interest based on adjusted LIBOR or variable prime rate | |
| Finance lease liabilities | |
| Total total debt and finance lease liabilities (fair value) | |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | |
Based on: 10-K (reporting date: 2021-12-31).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on debt and finance lease liabilities:
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| Total | |||
Based on: 10-K (reporting date: 2021-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × ÷ =