Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Warner Bros. Discovery Inc., consolidated cash flow statement

US$ in millions

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018	Dec 31, 2017
Net income (loss)	1,197)	1,355)	2,213)	681)	(313)
Content rights amortization and impairment	3,501)	2,956)	2,853)	3,288)	1,910)
Depreciation and amortization	1,582)	1,359)	1,347)	1,398)	330)
Deferred income taxes	(511)	(186)	(504)	(131)	(199)
Equity in losses of equity method investee companies and cash distributions	63)	167)	62)	138)	223)
Loss on extinguishment of debt	10)	76)	28)	—)	54)
Share-based compensation expense	178)	110)	142)	80)	39)
Impairment of goodwill and other intangible assets	—)	124)	155)	—)	1,327)
Gain on sale of investments	(19)	(103)	(10)	—)	—)
(Gain) loss on disposition	(71)	2)	—)	(84)	4)
Other, net	105)	(22)	86)	126)	149)
Receivables, net	47)	105)	(7)	(84)	(258)
Content rights and payables, net	(3,381)	(3,053)	(3,060)	(2,883)	(1,947)
Accounts payable, accrued liabilities, deferred revenues and other noncurrent liabilities	185)	(131)	122)	(74)	265)
Foreign currency, prepaid expenses and other assets, net	(88)	(20)	(28)	121)	45)
Changes in operating assets and liabilities, net of acquisitions and dispositions	(3,237)	(3,099)	(2,973)	(2,920)	(1,895)
Adjustments to reconcile net income (loss) to cash provided by operating activities	1,601)	1,384)	1,186)	1,895)	1,942)
Cash provided by operating activities	2,798)	2,739)	3,399)	2,576)	1,629)
Purchases of property and equipment	(373)	(402)	(289)	(147)	(135)
Purchases of investments	(103)	(250)	—)	—)	—)
Investments in and advances to equity investments	(184)	(181)	(254)	(61)	(444)
Proceeds from sales and maturities of investments and dissolution of joint venture	599)	69)	125)	—)	—)
Business acquisitions, net of cash acquired	(2)	(39)	(73)	(8,565)	(60)
Proceeds from dispositions, net of cash disposed	—)	—)	—)	107)	29)
(Payments for) proceeds from derivative instruments, net	(86)	85)	54)	(2)	(101)
Other investing activities, net	93)	15)	(1)	75)	78)
Cash used in investing activities	(56)	(703)	(438)	(8,593)	(633)
Principal repayments of debt, including premiums to par value and discount payment	(574)	(2,193)	(2,658)	(16)	(650)
Borrowings from debt, net of discount and issuance costs	—)	1,979)	1,479)	—)	7,488)
Repurchases of stock	—)	(969)	(633)	—)	(603)
Principal repayments of revolving credit facility	—)	(500)	(225)	(200)	(475)
Borrowings under revolving credit facility	—)	500)	—)	—)	350)
Distributions to noncontrolling interests and redeemable noncontrolling interests	(251)	(254)	(250)	(76)	(30)
Borrowings under term loan facilities	—)	—)	—)	2,000)	—)
Principal repayments of term loans	—)	—)	—)	(2,000)	—)
Other financing activities, net	(28)	(112)	(70)	9)	(129)
Cash used in financing activities	(853)	(1,549)	(2,357)	(283)	5,951)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(106)	83)	(38)	(23)	62)
Net change in cash, cash equivalents, and restricted cash	1,783)	570)	566)	(6,323)	7,009)
Cash, cash equivalents, and restricted cash, beginning of period	2,122)	1,552)	986)	7,309)	300)
Cash, cash equivalents, and restricted cash, end of period	3,905)	2,122)	1,552)	986)	7,309)

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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Cash flow statement item	Description	The company
Cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Warner Bros. Discovery Inc. cash provided by operating activities decreased from 2019 to 2020 but then slightly increased from 2020 to 2021.
Cash used in investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Warner Bros. Discovery Inc. cash used in investing activities decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.
Cash used in financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Warner Bros. Discovery Inc. cash used in financing activities increased from 2019 to 2020 and from 2020 to 2021.

Warner Bros. Discovery Inc. (NASDAQ:WBD)

Cash Flow Statement