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Warner Music Group Corp. (WMG) SEC Filing 10-K Annual Report for the fiscal year ending Friday, September 30, 2022

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Warner Music Group Corp.

CIK: 1319161 Ticker: WMG

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WARNER MUSIC GROUP CORP. REPORTS RESULTS FOR FISCAL FOURTH QUARTER AND FULL YEAR ENDED SEPTEMBER 30, 2022
Financial Highlights
Strong Quarterly Performance Highlighted by Growth across All Revenue Lines and Margin Expansion in Constant Currency
Solid Double-Digit Growth in Adjusted OIBDA and Adjusted EBITDA for the Quarter and Full Year
Continued Momentum in Music Publishing with Double-Digit Revenue Growth
Robust Operating Cash Flow Growth Which Outperformed Full-Year Expectations
For the three months ended September 30, 2022
Total revenue grew 9% or 16% in constant currency
Digital revenue grew 7% or 12% in constant currency
Net income was $150 million versus $30 million in the prior-year quarter
OIBDA increased 37% to $245 million versus $179 million in the prior-year quarter or 52% in constant currency
Adjusted OIBDA increased 22% to $265 million versus $218 million in the prior-year quarter or 33% in constant currency
Adjusted EBITDA increased 16% to $276 million versus $237 million in the prior-year quarter
Cash provided by operating activities increased 78% to $406 million versus $228 million in the prior-year quarter
For the twelve months ended September 30, 2022
Total revenue grew 12% or 16% in constant currency
Digital revenue grew 9% or 13% in constant currency
Net income was $555 million versus $307 million in the prior year
OIBDA increased 15% to $1,053 million versus $915 million in the prior year or 21% in constant currency
Adjusted OIBDA increased 13% to $1,149 million versus $1,018 million in the prior year or 18% in constant currency
Adjusted EBITDA increased 10% to $1,196 million versus $1,090 million in the prior year
Cash provided by operating activities increased 16% to $742 million versus $638 million in the prior year

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The following information was filed by Warner Music Group Corp. (WMG) on Tuesday, November 22, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Warner Music Group Corp.'s 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Audit Information
Cover
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (Parenthetical)
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Equity
Consolidated Statements Of Equity (Parenthetical)
Consolidated Statements Of Operations
Consolidated Statements Of Operations (Parenthetical)
Acquisition Of 300 Entertainment
Acquisition Of 300 Entertainment (Tables)
Acquisition Of 300 Entertainment - Narrative (Details)
Acquisition Of 300 Entertainment - Preliminary Purchase Price Allocation (Details)
Additional Financial Information
Additional Financial Information - Narrative (Details)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (Details)
Comprehensive Income (Loss)
Comprehensive Income (Loss) (Tables)
Comprehensive Income (Loss) - Additional Information (Details)
Comprehensive Income (Loss) - Schedule Of Accumulated Other Comprehensive Loss (Details)
Debt
Debt (Tables)
Debt - Interest Expense, Net (Details)
Debt - Interest Rates (Details)
Debt - Long-Term Debt (Details)
Debt - Maturities Of Senior Notes And Senior Secured Notes (Details)
Debt - Narrative (Details)
Derivative Financial Instruments
Derivative Financial Instruments (Tables)
Derivative Financial Instruments - Additional Information (Details)
Derivative Financial Instruments - Summary Of Amounts Recorded In Consolidated Balance Sheet (Details)
Description Of Business
Description Of Business - Narrative (Details)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Earnings Per Share - Schedule Of Earnings Per Share, Basic And Diluted (Details)
Employee Benefit Plans
Employee Benefit Plans - Narrative (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Narrative (Details)
Fair Value Measurements - Reconciliation Of Net Liabilities Classified As Level 3 (Details)
Fair Value Measurements - Schedule Of Fair Value Of Financial Instruments (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Additional Information (Details)
Goodwill And Intangible Assets - Changes In Goodwill For Each Reportable Segment (Details)
Goodwill And Intangible Assets - Expected Amortization Of Intangible Assets (Details)
Goodwill And Intangible Assets - Schedule Of Intangible Assets (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Current And Deferred Income Taxes (Details)
Income Taxes - Differences Between U.S. Federal Statutory Income Tax Rate And Income Taxes Provided (Details)
Income Taxes - Narrative (Details)
Income Taxes - Reconciliation Of Unrecognized Tax Benefits Including Interest And Penalties (Details)
Income Taxes - Schedule Of Domestic And Foreign Pretax (Loss) Income From Continuing Operations (Details)
Income Taxes - Significant Components Of Company's Net Deferred Tax Assets/(Liabilities) (Details)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Assets And Liabilities Lease (Details)
Leases - Lease Cost (Details)
Leases - Schedule Of Operating Lease Liability Maturity (Details)
Leases - Supplemental Disclosures (Details)
Property, Plant And Equipment
Property, Plant And Equipment (Tables)
Property, Plant And Equipment - Schedule Of Property, Plant And Equipment (Details)
Related Party Transactions
Related Party Transactions - Additional Information (Details)
Revenue Recognition
Revenue Recognition (Tables)
Revenue Recognition - Additional Information (Details)
Revenue Recognition - Summary Of Disaggregation Of Revenue (Details)
Revenue Recognition - Summary Of Revenues Expected To Be Recognized In Future Related To Performance Obligations (Details)
Schedule Ii - Valuation And Qualifying Accounts
Schedule Ii - Valuation And Qualifying Accounts (Details)
Segment Information
Segment Information (Tables)
Segment Information - Long-Lived Assets And Revenue By Geographical Areas (Details)
Segment Information - Narrative (Details)
Segment Information - Schedule Of Segment Information (Details)
Stock-Based Compensation Plans
Stock-Based Compensation Plans (Tables)
Stock-Based Compensation Plans - Additional Information (Details)
Stock-Based Compensation Plans - Schedule Of Unvested Rsus (Details)
Stock-Based Compensation Plans - Summary Of Company's Share Awards (Details)
Subsequent Events
Subsequent Events - Additional Information (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies - Additional Information (Details)
Ticker: WMG
CIK: 1319161
Form Type: 10-K Annual Report
Accession Number: 0001319161-22-000035
Submitted to the SEC: Tue Nov 22 2022 7:37:35 AM EST
Accepted by the SEC: Tue Nov 22 2022
Period: Friday, September 30, 2022
Industry: Amusement And Recreation Services

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