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Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenue $ 1,554 $ 1,564 $ 4,796 $ 4,451
Costs and expenses:        
Cost of revenue (830) (850) (2,501) (2,332)
Selling, general and administrative expenses [1] (462) (461) (1,384) (1,353)
Restructuring and impairments (1) 0 (96) (41)
Amortization expense (55) (64) (167) (188)
Total costs and expenses (1,348) (1,375) (4,148) (3,914)
Net loss (gain) on divestitures 1 0 32 41
Operating income 207 189 680 578
Loss on extinguishment of debt 0 (4) 0 (4)
Interest expense, net (40) (38) (121) (105)
Other income (expense) 4 20 (9) (72)
Income before income taxes 171 167 550 397
Income tax expense (30) (43) (120) (112)
Net income 141 124 430 285
Less: Income attributable to noncontrolling interest (2) (2) (36) (7)
Net income attributable to Warner Music Group Corp. 139 122 394 278
Class A Common Stock        
Costs and expenses:        
Net income attributable to Warner Music Group Corp. $ 39 $ 34 $ 111 $ 77
Net income per share attributable to common stockholders:        
Basic (in dollars per share) $ 0.27 $ 0.23 $ 0.75 $ 0.53
Diluted (in dollars per share) $ 0.27 $ 0.23 $ 0.75 $ 0.53
Weighted average common shares:        
Basic (in shares) 141,568,000 138,290,000 140,531,000 137,990,000
Diluted (in shares) 141,568,000 138,290,000 140,531,000 137,990,000
Class B Common Stock        
Costs and expenses:        
Net income attributable to Warner Music Group Corp. $ 100 $ 88 $ 283 $ 201
Net income per share attributable to common stockholders:        
Basic (in dollars per share) $ 0.27 $ 0.23 $ 0.75 $ 0.53
Diluted (in dollars per share) $ 0.27 $ 0.23 $ 0.75 $ 0.53
Weighted average common shares:        
Basic (in shares) 376,315,000 377,650,000 376,868,000 377,650,000
Diluted (in shares) 376,315,000 377,650,000 376,868,000 377,650,000
[1]
Includes depreciation expense of $(25), $(22), for the three months ended June 30, 2024 and June 30, 2023, respectively, and $(77) and $(65) for the nine months ended June 30, 2024 and June 30, 2023, respectively.