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.

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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
	Receivables, net
	Content rights and prepaid license fees, net
	Prepaid expenses and other current assets
	Current assets
	Noncurrent content rights, net
	Property and equipment, net
	Goodwill
	Intangible assets, net
	Equity method investments
	Other noncurrent assets
	Noncurrent assets
	Total assets

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).

The financial data reveals several notable trends in the asset composition and magnitude over the five-year period ending December 31, 2021.

Cash and Cash Equivalents: This category experienced a sharp decline from 7,309 million US dollars in 2017 to 986 million in 2018, followed by a gradual recovery through 2021, reaching 3,905 million. Despite the recovery, the 2021 level remains below the 2017 peak, indicating fluctuating liquidity positions.
Receivables, Net: Receivables showed an increase from 1,838 million in 2017 to a peak of 2,633 million in 2019, followed by a slight decline to 2,446 million in 2021. This suggests a stabilization in amounts due from customers after initial growth.
Content Rights and Prepaid License Fees, Net: There was a notable reduction from 410 million in 2017 to 245 million in 2021. This decline over time could imply tighter management of content-related assets or changing licensing strategies.
Prepaid Expenses and Other Current Assets: These assets fluctuated moderately, with an increase from 434 million in 2017 to a peak of 970 million in 2020, before decreasing to 668 million in 2021, indicating variations in prepaid expenditures and other short-term assets.
Current Assets: Current assets dropped significantly from 9,991 million in 2017 to 4,231 million in 2018 but then increased steadily through 2021 to reach 7,264 million. This pattern reflects the substantial initial decrease in cash and the subsequent recovery in liquidity and other current assets.
Noncurrent Content Rights, Net: There was a consistent upward trend in noncurrent content rights, increasing from 2,213 million in 2017 to 3,832 million in 2021. This points to growing investments in long-term content assets.
Property and Equipment, Net: Property and equipment showed steady growth, rising from 597 million in 2017 to 1,336 million in 2021, indicating ongoing capital expenditure or asset acquisition in fixed assets.
Goodwill: Goodwill increased sharply from 7,073 million in 2017 to over 13,000 million in 2018 and remained relatively stable thereafter, slightly decreasing to 12,912 million by 2021. The surge likely reflects merger or acquisition activity around 2018, with stabilization thereafter.
Intangible Assets, Net: Intangible assets experienced significant growth in 2018, jumping from 1,770 million to 9,674 million, then steadily declining annually to 6,317 million in 2021. This pattern may also relate to acquisition impacts, followed by amortization or impairments reducing the carrying value over time.
Equity Method Investments: These investments increased notably from 335 million in 2017 to 935 million in 2018, followed by a decline and minor recovery, arriving at 543 million in 2021. This volatility could reflect changes in the valuation or presence of equity investments.
Other Noncurrent Assets: Other noncurrent assets rose steadily from 576 million in 2017 to 2,223 million in 2021, indicating accumulation of additional long-term resources or deferred charges.
Noncurrent Assets: Overall noncurrent assets expanded substantially from 12,564 million in 2017 to a peak of over 28,500 million in 2019, then experienced a slight decline to 27,163 million in 2021. This growth aligns with increases in goodwill, intangible assets, and noncurrent content rights, signaling enhanced long-term asset base.
Total Assets: Total assets grew steadily year over year from 22,555 million in 2017 to 34,427 million in 2021, reflecting overall expansion in both current and noncurrent assets, despite some fluctuations within individual categories.

In summary, the data depicts a company that underwent significant asset growth primarily through acquisition-related increases in goodwill and intangible assets. Liquidity showed volatility with a pronounced drop in cash in 2018 followed by recovery. Investments in property, equipment, and long-term content rights steadily advanced. The moderation in certain asset categories suggests active management of asset quality and composition over the period. The trend in total assets indicates robust expansion in the company’s resource base over these years.

Assets: Selected Items

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Current Assets: Selected Items