Warner Music Group Corp. (WMG) FY2026 YTD Q3 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2025-10-01 to 2026-06-30

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Warner Music Group Corp. cash flow reconciliation, Oct 1, 2025 through Jun 30, 2026One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Orange marks positive customer-advance and deferred-revenue changes that add to operating cash in the reconciliation. These are net changes, not gross customer receipts. Negative changes are neutral reconciliation adjustments; they do not by themselves identify cash payments. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net income → Net cash from operating activities: $556,000,000.00Depreciation and amortization → Operating adjustments reconciliation: $313,000,000.00Royalty payables → Operating adjustments reconciliation: $298,000,000.00Deferred income taxes → Operating adjustments reconciliation: $70,000,000.00Deferred revenue → Operating adjustments reconciliation: $43,000,000.00Non-cash stock-based compensation expense → Operating adjustments reconciliation: $33,000,000.00Non-cash impairments → Operating adjustments reconciliation: $14,000,000.00Accrued interest → Operating adjustments reconciliation: $8,000,000.00Loss on extinguishment of debt → Operating adjustments reconciliation: $7,000,000.00Non-cash interest expense → Operating adjustments reconciliation: $6,000,000.00Net loss on divestitures → Operating adjustments reconciliation: $5,000,000.00Remeasurement of share-settled liability → Operating adjustments reconciliation: $5,000,000.00Inventories → Operating adjustments reconciliation: $2,000,000.00Remeasurement of redeemable noncontrolling interest → Operating adjustments reconciliation: $1,000,000.00Operating adjustments reconciliation → Net cash from operating activities: $152,000,000.00Operating adjustments reconciliation → Accounts receivable, net: $268,000,000.00Operating adjustments reconciliation → Royalty advances: $129,000,000.00Operating adjustments reconciliation → Accounts payable and accrued liabilities: $126,000,000.00Operating adjustments reconciliation → Income taxes payable: $42,000,000.00Operating adjustments reconciliation → Unrealized losses and remeasurement of foreign-denominated loans and foreign currency forward exchange contracts: $41,000,000.00Operating adjustments reconciliation → Other balance sheet changes, net: $37,000,000.00Operating adjustments reconciliation → Operating lease liabilities: $8,000,000.00Operating adjustments reconciliation → Net loss (gain) on investments: $2,000,000.00Proceeds from Senior Term Loan A Facility → financing reconciliation: $1,295,000,000.00Proceeds from Beethoven Credit Agreement → financing reconciliation: $370,000,000.00Contributions from redeemable noncontrolling interest holder → financing reconciliation: $135,000,000.00financing reconciliation → Net cash from financing activities: $59,000,000.00financing reconciliation → Repayments of secured debt - Senior Term Loan Facility: $1,295,000,000.00financing reconciliation → Dividends paid: $300,000,000.00financing reconciliation → Common stock repurchased and retired: $48,000,000.00financing reconciliation → Payment of deferred consideration: $47,000,000.00financing reconciliation → Taxes paid related to net share settlement of restricted stock units and common stock: $27,000,000.00financing reconciliation → Deferred financing costs paid: $14,000,000.00financing reconciliation → Distribution to noncontrolling interest holders: $9,000,000.00financing reconciliation → Repayments of secured debt - Mortgage Term Loan due 2033: $1,000,000.00Net cash used in investing activities → investing reconciliation: $674,000,000.00Proceeds from divestitures → investing reconciliation: $10,000,000.00Proceeds from the sale of investments → investing reconciliation: $2,000,000.00investing reconciliation → Acquisition of music publishing rights and music catalogs: $505,000,000.00investing reconciliation → Investments and acquisitions of businesses, net of cash received: $106,000,000.00investing reconciliation → Capital expenditures: $75,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $532,000,000.00Net cash from operating activities → Cash sources and uses: $708,000,000.00Net cash from financing activities → Cash sources and uses: $59,000,000.00Cash sources and uses → Exchange-rate effect: $1,000,000.00Cash sources and uses → Effect of change in cash balances classified as assets held for sale: $6,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $618,000,000.00Cash sources and uses → Net cash used in investing activities: $674,000,000.00Net income: $556,000,000.00Continuing ops income (loss)+$556.00 MDepreciation and amortization: $313,000,000.00Depreciation & amortization+$313.00 MUnrealized losses and remeasurement of foreign-denominated loans and foreign currency forward exchange contracts: -$41,000,000.00FX transaction gain & loss−$41.00 MDeferred income taxes: $70,000,000.00Deferred income taxes+$70.00 MLoss on extinguishment of debt: $7,000,000.00Debt extinguishment gain & loss+$7.00 MNet loss (gain) on investments: -$2,000,000.00Investment sale gain & loss−$2.00 MNet loss on divestitures: $5,000,000.00Business sale gain & loss+$5.00 MNon-cash interest expense: $6,000,000.00Debt cost amortization+$6.00 MNon-cash stock-based compensation expense: $33,000,000.00Noncash employee benefits+$33.00 MNon-cash impairments: $14,000,000.00Asset impairments+$14.00 MRemeasurement of share-settled liability: $5,000,000.00Share-settled remeasurement+$5.00 MRemeasurement of redeemable noncontrolling interest: $1,000,000.00Redeemable interest remeasurement+$1.00 MAccounts receivable, net: -$268,000,000.00Accounts receivable−$268.00 MInventories: $2,000,000.00Inventories+$2.00 MRoyalty advances: -$129,000,000.00Royalty advances−$129.00 MAccounts payable and accrued liabilities: -$126,000,000.00Payables & accrued liabilities−$126.00 MRoyalty payables: $298,000,000.00Royalty payables+$298.00 MAccrued interest: $8,000,000.00Accrued interest+$8.00 MOperating lease liabilities: -$8,000,000.00Operating lease liabilities−$8.00 MDeferred revenue: $43,000,000.00Deferred revenue+$43.00 MIncome taxes payable: -$42,000,000.00Accrued taxes−$42.00 MOther balance sheet changes, net: -$37,000,000.00Other working capital, net−$37.00 MNet cash from operating activities: $708,000,000.00Operating cash+$708.00 MOperating adjustments reconciliation: $805,000,000.00Proceeds from Beethoven Credit Agreement: $370,000,000.00Credit line borrowings+$370.00 MDeferred financing costs paid: -$14,000,000.00Debt issuance costs−$14.00 MDistribution to noncontrolling interest holders: -$9,000,000.00Paid to noncontrolling interests−$9.00 MContributions from redeemable noncontrolling interest holder: $135,000,000.00From noncontrolling interests+$135.00 MDividends paid: -$300,000,000.00Dividends paid−$300.00 MPayment of deferred consideration: -$47,000,000.00Contingent consideration paid−$47.00 MTaxes paid related to net share settlement of restricted stock units and common stock: -$27,000,000.00Stock-award tax withholding−$27.00 MCommon stock repurchased and retired: -$48,000,000.00Common stock repurchases−$48.00 MOther financing activity: $0.00Proceeds from Senior Term Loan A Facility: $1,295,000,000.00Secured debt issued+$1.30 BRepayments of secured debt - Senior Term Loan Facility: -$1,295,000,000.00Senior term loan repaid−$1.30 BRepayments of secured debt - Mortgage Term Loan due 2033: -$1,000,000.00Mortgage term loan repaid−$1.00 MNet cash from financing activities: $59,000,000.00Financing cash+$59.00 Mfinancing reconciliation: $1,800,000,000.00Proceeds from the sale of investments: $2,000,000.00Equity-method investment sales+$2.00 MAcquisition of music publishing rights and music catalogs: -$505,000,000.00Intangible asset purchases−$505.00 MCapital expenditures: -$75,000,000.00PP&E purchases−$75.00 MInvestments and acquisitions of businesses, net of cash received: -$106,000,000.00Acquisitions, net of cash−$106.00 MProceeds from divestitures: $10,000,000.00Business sales+$10.00 MNet cash used in investing activities: -$674,000,000.00. Cash required to fund net payments.Investing cash−$674.00 Minvesting reconciliation: $686,000,000.00Cash sources and uses: $1,299,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $532,000,000.00Beginning cash$532.00 MEnding cash: Cash, cash equivalents, and restricted cash: $618,000,000.00Ending cash$618.00 MExchange-rate effect: -$1,000,000.00FX effect−$1.00 MEffect of change in cash balances classified as assets held for sale: -$6,000,000.00Effect of change in cashbalances classified asassets held for sale−$6.00 MCASH RECONCILIATIONOperatingflowsFinancingflowsInvestingflowsFree cash flow$633.00 MOperating cash − cash spent on PP&ECash flow / Net incomeUnavailableOperating cash flow ÷ net incomeNet cash change+$86.00 MEnding cash − beginning cash
Chart details

Warner Music Group Corp. cash flow reconciliation, Oct 1, 2025 through Jun 30, 2026

Cash flows for Oct 1, 2025 through Jun 30, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Sep 30, 2025. Ending cash: Jun 30, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Sep 30, 2025
532,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
708,000,000 US dollars. Net cash provided.
Net income
556,000,000 US dollars
Depreciation and amortization
313,000,000 US dollars
Unrealized losses and remeasurement of foreign-denominated loans and foreign currency forward exchange contracts
negative 41,000,000 US dollars
Deferred income taxes
70,000,000 US dollars
Loss on extinguishment of debt
7,000,000 US dollars
Net loss (gain) on investments
negative 2,000,000 US dollars
Net loss on divestitures
5,000,000 US dollars
Non-cash interest expense
6,000,000 US dollars
Non-cash stock-based compensation expense
33,000,000 US dollars
Non-cash impairments
14,000,000 US dollars
Remeasurement of share-settled liability
5,000,000 US dollars
Remeasurement of redeemable noncontrolling interest
1,000,000 US dollars
Accounts receivable, net
negative 268,000,000 US dollars
Inventories
2,000,000 US dollars
Royalty advances
negative 129,000,000 US dollars
Accounts payable and accrued liabilities
negative 126,000,000 US dollars
Royalty payables
298,000,000 US dollars
Accrued interest
8,000,000 US dollars
Operating lease liabilities
negative 8,000,000 US dollars
Deferred revenue
43,000,000 US dollars
Income taxes payable
negative 42,000,000 US dollars
Other balance sheet changes, net
negative 37,000,000 US dollars
Investing activities
negative 674,000,000 US dollars. Net cash used.
Proceeds from the sale of investments
2,000,000 US dollars
Acquisition of music publishing rights and music catalogs
negative 505,000,000 US dollars
Capital expenditures
negative 75,000,000 US dollars
Investments and acquisitions of businesses, net of cash received
negative 106,000,000 US dollars
Proceeds from divestitures
10,000,000 US dollars
Financing activities
59,000,000 US dollars. Net cash provided.
Proceeds from Beethoven Credit Agreement
370,000,000 US dollars
Deferred financing costs paid
negative 14,000,000 US dollars
Distribution to noncontrolling interest holders
negative 9,000,000 US dollars
Contributions from redeemable noncontrolling interest holder
135,000,000 US dollars
Dividends paid
negative 300,000,000 US dollars
Payment of deferred consideration
negative 47,000,000 US dollars
Taxes paid related to net share settlement of restricted stock units and common stock
negative 27,000,000 US dollars
Common stock repurchased and retired
negative 48,000,000 US dollars
Other financing activity
0 US dollars
Proceeds from Senior Term Loan A Facility
1,295,000,000 US dollars
Repayments of secured debt - Senior Term Loan Facility
negative 1,295,000,000 US dollars
Repayments of secured debt - Mortgage Term Loan due 2033
negative 1,000,000 US dollars
Operating adjustment reconciliation
805,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
1,800,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
686,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
negative 1,000,000 US dollars
Effect of change in cash balances classified as assets held for sale
negative 6,000,000 US dollars. Out of cash; drawn as the small gray flow above ending cash.
Ending cash on Jun 30, 2026
618,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
1,299,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
86,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
Unavailable. Operating cash flow and reconciliation net income for the same period are required.
Operating cash flow
708,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
75,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
633,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $152.00M after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 708,000,000 US dollars minus 75,000,000 US dollars equals 633,000,000 US dollars.
Warner Music Group Corp. (WMG) FY2026 YTD Q3 Statement of Cash Flows Sankey chart
Free to share unchanged, with credit to Plicit.ai · CC BY-NC-ND 4.0Download PNG

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