Warner Bros. Discovery Inc.
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $727.0M | $-11.31B | $-3.13B | $-7.37B | $1.01B | $1.22B | $2.07B | $594.0M |
| Depreciation & Amortization | $5.68B | $7.04B | $7.99B | $7.19B | $1.58B | $1.36B | $1.35B | $1.40B |
| Depreciation | $1.08B | $1.10B | $1.10B | $957.0M | $311.0M | $267.0M | $207.0M | $229.0M |
| Amortization | $4.61B | $5.94B | $6.85B | $6.24B | $1.30B | $1.10B | $1.10B | $1.20B |
| Stock-Based Compensation | $769.0M | $557.0M | $500.0M | $412.0M | $178.0M | $110.0M | $142.0M | $80.0M |
| Net Cash from Operating Activities | $4.32B | $5.38B | $7.48B | $4.30B | $2.80B | $2.74B | $3.40B | $2.58B |
| Investing Activities | ||||||||
| Capital Expenditures | $1.23B | $948.0M | $1.32B | $987.0M | $373.0M | $402.0M | $289.0M | $147.0M |
| Business Acquisitions | $0 | $0 | $50.0M | $-3.61B | $2.0M | $39.0M | $73.0M | $8.57B |
| Net Cash from Investing Activities | $-1.18B | $-349.0M | $-1.26B | $3.52B | $-56.0M | $-703.0M | $-438.0M | $-8.59B |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | — | $0 |
| Net Cash from Financing Activities | $-4.24B | $-3.75B | $-5.84B | $-7.74B | $-853.0M | $-1.55B | $-2.36B | $-283.0M |
| Net Change in Cash | $-846.0M | $1.10B | $389.0M | $25.0M | $1.78B | $570.0M | $566.0M | $-6.32B |
| Free Cash Flow | $3.09B | $4.43B | $6.16B | $3.32B | $2.43B | $2.34B | $3.11B | $2.43B |