Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Warner Bros. Discovery Inc., consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Advertising	6,215)	5,583)	6,044)	5,514)	3,073)
Distribution	5,409)	4,866)	4,835)	4,538)	3,474)
Other	567)	222)	265)	501)	326)
Revenues	12,191)	10,671)	11,144)	10,553)	6,873)
Costs of revenues, excluding depreciation and amortization	(4,620)	(3,860)	(3,819)	(3,935)	(2,656)
Gross profit	7,571)	6,811)	7,325)	6,618)	4,217)
Selling, general and administrative	(4,016)	(2,722)	(2,788)	(2,620)	(1,768)
Depreciation and amortization	(1,582)	(1,359)	(1,347)	(1,398)	(330)
Impairment of goodwill and other intangible assets	—)	(124)	(155)	—)	(1,327)
Restructuring and other charges	(32)	(91)	(26)	(750)	(75)
Gain (loss) on disposition	71)	—)	—)	84)	(4)
Operating income	2,012)	2,515)	3,009)	1,934)	713)
Interest expense, net	(633)	(648)	(677)	(729)	(475)
Loss on extinguishment of debt	(10)	(76)	(28)	—)	(54)
Loss from equity investees, net	(18)	(105)	(2)	(63)	(211)
Foreign currency gains (losses), net	93)	(115)	17)	(93)	(83)
Gains (losses) on derivative instruments, net	(33)	29)	(52)	50)	(82)
Interest income	18)	10)	22)	15)	21)
Gain on sale of investment with readily determinable fair value	15)	101)	—)	—)	—)
Change in the value of equity investments without readily determinable fair value	(13)	—)	—)	—)	—)
Change in the value of investments with readily determinable fair value	(6)	28)	(26)	(88)	—)
Expenses from debt modification	—)	(11)	—)	—)	—)
Other income, net	8)	—)	31)	(4)	34)
Other income (expense), net	82)	42)	(8)	(120)	(110)
Income (loss) before income taxes	1,433)	1,728)	2,294)	1,022)	(137)
Income tax expense	(236)	(373)	(81)	(341)	(176)
Net income (loss)	1,197)	1,355)	2,213)	681)	(313)
Net income attributable to noncontrolling interests and redeemable noncontrolling interests	(191)	(136)	(144)	(87)	(24)
Net income (loss) available to Discovery, Inc.	1,006)	1,219)	2,069)	594)	(337)

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).

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Income statement item	Description	The company
Revenues	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Warner Bros. Discovery Inc. revenues decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Warner Bros. Discovery Inc. operating income decreased from 2019 to 2020 and from 2020 to 2021.
Income (loss) before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Warner Bros. Discovery Inc. income (loss) before income taxes decreased from 2019 to 2020 and from 2020 to 2021.
Net income (loss) available to Discovery, Inc.	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Warner Bros. Discovery Inc. net income (loss) available to Discovery, Inc. decreased from 2019 to 2020 and from 2020 to 2021.

Warner Bros. Discovery Inc. (NASDAQ:WBD)

Income Statement