Name: Warner Bros. Discovery Inc. (NASDAQ:WBD) | Balance Sheet: Assets
Creator: Stock Analysis on Net

Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Assets: Selected Items

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Current Assets: Selected Items

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Warner Bros. Discovery Inc., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Cash and cash equivalents	3,905)	2,091)	1,552)	986)	7,309)
Receivables, net	2,446)	2,537)	2,633)	2,620)	1,838)
Content rights and prepaid license fees, net	245)	532)	579)	313)	410)
Prepaid expenses and other current assets	668)	970)	453)	312)	434)
Current assets	7,264)	6,130)	5,217)	4,231)	9,991)
Noncurrent content rights, net	3,832)	3,439)	3,129)	3,069)	2,213)
Property and equipment, net	1,336)	1,206)	951)	800)	597)
Goodwill	12,912)	13,070)	13,050)	13,006)	7,073)
Intangible assets, net	6,317)	7,640)	8,667)	9,674)	1,770)
Equity method investments	543)	507)	568)	935)	335)
Other noncurrent assets	2,223)	2,095)	2,153)	835)	576)
Noncurrent assets	27,163)	27,957)	28,518)	28,319)	12,564)
Total assets	34,427)	34,087)	33,735)	32,550)	22,555)

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).

Total assets grew from 22,555 million in 2017 to 34,427 million in 2021, with the most significant expansion occurring between 2017 and 2018. Following this initial surge, the total asset base remained relatively stable, exhibiting marginal growth through 2021.

Liquidity and Current Asset Trends: Cash and cash equivalents experienced substantial volatility, dropping from 7,309 million in 2017 to a low of 986 million in 2018, followed by a gradual recovery to 3,905 million by 2021. Total current assets reflected this volatility, decreasing from 9,991 million in 2017 to 4,231 million in 2018, before trending upward to reach 7,264 million by the end of the period. Receivables remained comparatively stable, fluctuating within a narrow range between 1,838 million and 2,633 million.
Intangible Assets and Goodwill: A major structural shift in the balance sheet is observed in 2018, where goodwill increased from 7,073 million to 13,006 million and intangible assets rose from 1,770 million to 9,674 million. While goodwill remained nearly constant from 2018 through 2021, intangible assets showed a consistent downward trend after the 2018 peak, declining to 6,317 million by 2021, suggesting regular amortization or impairment.
Long-term Investment in Content and Infrastructure: Noncurrent content rights, net, demonstrated a consistent upward trajectory, increasing every year from 2,213 million in 2017 to 3,832 million in 2021. A similar pattern of steady growth is evident in property and equipment, net, which rose from 597 million in 2017 to 1,336 million in 2021, indicating a continuous commitment to capital expenditure and content acquisition.
Other Noncurrent Assets: Other noncurrent assets grew significantly from 576 million in 2017 to 2,223 million in 2021, with a notable jump occurring in 2019. Equity method investments fluctuated throughout the period, peaking at 935 million in 2018 before stabilizing around 543 million by 2021.

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