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Warner Bros. Discovery Inc. (NASDAQ:WBD)

This company has been moved to the archive! The financial data has not been updated since November 4, 2022.

Common-Size Balance Sheet: Assets
Quarterly Data

Warner Bros. Discovery Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017
Cash and cash equivalents 1.78 1.81 12.31 11.34 9.08 8.20 5.97 6.13 5.66 5.09 4.35 4.60 2.48 3.90 2.30 3.03 1.61 1.17 2.34 32.41 30.22 1.28 1.68
Receivables, net 4.90 4.96 7.18 7.10 7.17 7.69 7.36 7.44 7.31 7.47 7.68 7.80 8.21 8.43 8.09 8.05 7.83 8.20 7.66 8.15 7.14 10.89 9.83
Prepaid expenses and other current assets 2.63 4.10 1.73 2.65 3.14 3.58 4.11 4.41 3.41 1.70 1.82 3.06 2.45 2.24 2.02 1.92 2.45 2.29 3.04 3.74 3.59 4.99 4.82
Current assets 9.31% 10.86% 21.22% 21.10% 19.40% 19.46% 17.44% 17.98% 16.38% 14.26% 13.85% 15.46% 13.14% 14.57% 12.41% 13.00% 11.89% 11.66% 13.04% 44.30% 40.95% 17.15% 16.33%
Film and television content rights and games, net 20.79 21.18 11.44 11.13 10.75 10.43 10.32 10.09 9.80 10.70 11.25 9.28 9.43 9.63 9.55 9.43 9.46 9.73 9.59 9.81 9.05 12.82 12.85
Property and equipment, net 3.78 3.93 3.93 3.88 3.82 3.58 3.54 3.54 3.36 3.29 3.11 2.82 2.61 2.45 2.47 2.46 2.46 2.34 2.68 2.65 2.26 3.18 3.18
Assets held for sale 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.20 0.00 0.00 0.00 0.00 0.00
Goodwill 25.32 24.10 38.08 37.51 37.76 37.64 38.58 38.34 39.03 39.25 38.83 38.68 39.53 39.07 40.18 39.96 39.92 39.17 37.80 31.36 35.61 50.30 50.92
Intangible assets, net 34.36 34.25 17.38 18.35 19.77 20.46 21.78 22.41 23.52 24.45 24.95 25.69 27.05 27.10 28.87 29.72 30.51 30.96 31.23 7.85 6.65 9.17 9.39
Other noncurrent assets 6.43 5.68 7.95 8.03 8.52 8.42 8.34 7.63 7.90 8.06 8.00 8.07 8.24 7.19 6.52 5.44 5.75 5.94 5.65 4.04 5.47 7.38 7.33
Noncurrent assets 90.69% 89.14% 78.78% 78.90% 80.60% 80.54% 82.56% 82.02% 83.62% 85.74% 86.15% 84.54% 86.86% 85.43% 87.59% 87.00% 88.11% 88.34% 86.96% 55.70% 59.05% 82.85% 83.67%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).

The asset composition exhibits significant structural shifts over the analyzed period, characterized by a transition from a goodwill-dominant balance sheet toward a higher concentration of intangible assets and content rights. A notable volatility in liquidity is observed, particularly in the relationship between current and noncurrent assets.

Liquidity and Current Asset Trends
Current assets have fluctuated considerably, peaking at 44.30% in December 2017 before stabilizing between 12% and 21% for several years. A sharp contraction occurred in mid-2022, where current assets dropped to 9.31%. This trend is mirrored in cash and cash equivalents, which showed extreme volatility, including a spike to 32.41% in late 2017 and a subsequent rise to 12.31% by March 2022, followed by a precipitous decline to 1.78% by September 2022. Receivables remained relatively stable around 7-10% of total assets until mid-2022, when they decreased to approximately 4.9%.
Goodwill and Intangible Asset Dynamics
Goodwill represented the largest portion of total assets at the start of the period (50.92% in March 2017) but followed a general downward trajectory, ending at 25.32% in September 2022. Conversely, intangible assets experienced two major surges: first in March 2018, jumping from 7.85% to 31.23%, and again in June 2022, rising from 17.38% to 34.25%. This inverse relationship suggests a reclassification of asset value or the impact of significant corporate acquisitions where purchase price allocations shifted from goodwill to identifiable intangible assets.
Operational and Fixed Asset Analysis
Film and television content rights and games remained stable between 9% and 11% for the majority of the period but saw a substantial increase in mid-2022, doubling to 21.18% of total assets. Property and equipment, net, remained the most consistent line item, fluctuating minimally between 2.26% and 3.93%, indicating that the company's growth and structural changes are driven by intellectual property and intangible value rather than physical infrastructure.
Noncurrent Asset Concentration
Noncurrent assets have consistently dominated the balance sheet, typically comprising over 80% of total assets. The highest concentration was reached in September 2022 at 90.69%, coinciding with the decline in current assets and the spike in content rights and intangible assets, signaling a strategic shift toward long-term asset accumulation.

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