$WMG
Warner Music Group Corp

2021 Q1 Form 10-Q Financial Statement

#000131916121000019 Filed on May 04, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $1.250B $1.071B
YoY Change 16.71% -1.74%
Cost Of Revenue $623.0M $535.0M
YoY Change 16.45% -4.29%
Gross Profit $627.0M $536.0M
YoY Change 16.98% 0.94%
Gross Profit Margin 50.16% 50.05%
Selling, General & Admin $418.0M $538.0M
YoY Change -22.3% 51.98%
% of Gross Profit 66.67% 100.37%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $19.00M $14.00M
YoY Change 35.71% 0.0%
% of Gross Profit 3.03% 2.61%
Operating Expenses $418.0M $538.0M
YoY Change -22.3% 51.98%
Operating Profit $151.0M -$49.00M
YoY Change -408.16% -140.16%
Interest Expense -$32.00M -$33.00M
YoY Change -3.03% -8.33%
% of Operating Profit -21.19%
Other Income/Expense, Net $49.00M -$4.000M
YoY Change -1325.0% -113.79%
Pretax Income $168.0M -$86.00M
YoY Change -295.35% -174.78%
Income Tax $51.00M -$12.00M
% Of Pretax Income 30.36%
Net Earnings $117.0M -$74.00M
YoY Change -258.11% -210.45%
Net Earnings / Revenue 9.36% -6.91%
Basic Earnings Per Share
Diluted Earnings Per Share $227.5K -$145.1K
COMMON SHARES
Basic Shares Outstanding 1.069K shares
Diluted Shares Outstanding

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $588.0M $484.0M
YoY Change 21.49% 2.98%
Cash & Equivalents $588.0M $484.0M
Short-Term Investments
Other Short-Term Assets $306.0M $271.0M
YoY Change 12.92% 30.29%
Inventory $79.00M $65.00M
Prepaid Expenses
Receivables $783.0M $763.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.756B $1.583B
YoY Change 10.93% 3.87%
LONG-TERM ASSETS
Property, Plant & Equipment $339.0M $294.0M
YoY Change 15.31% -0.34%
Goodwill $1.842B $1.761B
YoY Change 4.6%
Intangibles $2.081B $1.795B
YoY Change 15.93% -8.18%
Long-Term Investments
YoY Change
Other Assets $202.0M $123.0M
YoY Change 64.23% -18.0%
Total Long-Term Assets $5.074B $4.541B
YoY Change 11.74% 3.72%
TOTAL ASSETS
Total Short-Term Assets $1.756B $1.583B
Total Long-Term Assets $5.074B $4.541B
Total Assets $6.830B $6.124B
YoY Change 11.53% 3.76%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $235.0M $246.0M
YoY Change -4.47% 0.41%
Accrued Expenses $315.0M $564.0M
YoY Change -44.15% 37.9%
Deferred Revenue $298.0M $167.0M
YoY Change 78.44% -1.76%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.784B $2.732B
YoY Change 1.9% 8.5%
LONG-TERM LIABILITIES
Long-Term Debt $3.354B $2.983B
YoY Change 12.44% -0.23%
Other Long-Term Liabilities $169.0M $228.0M
YoY Change -25.88% -19.72%
Total Long-Term Liabilities $3.523B $3.211B
YoY Change 9.72% -1.92%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.784B $2.732B
Total Long-Term Liabilities $3.523B $3.211B
Total Liabilities $6.757B $6.409B
YoY Change 5.43% 6.07%
SHAREHOLDERS EQUITY
Retained Earnings -$1.659B -$1.166B
YoY Change 42.28%
Common Stock $1.924B $1.127B
YoY Change 70.72% -0.09%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $57.00M -$306.0M
YoY Change
Total Liabilities & Shareholders Equity $6.830B $6.124B
YoY Change 11.53% 3.76%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $117.0M -$74.00M
YoY Change -258.11% -210.45%
Depreciation, Depletion And Amortization $19.00M $14.00M
YoY Change 35.71% 0.0%
Cash From Operating Activities $150.0M $86.00M
YoY Change 74.42% 1128.57%
INVESTING ACTIVITIES
Capital Expenditures -$23.00M -$20.00M
YoY Change 15.0% -54.55%
Acquisitions
YoY Change
Other Investing Activities -$38.00M $1.000M
YoY Change -3900.0% -109.09%
Cash From Investing Activities -$61.00M -$19.00M
YoY Change 221.05% -65.45%
FINANCING ACTIVITIES
Cash Dividend Paid $63.00M
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -64.00M -38.00M
YoY Change 68.42% 22.58%
NET CHANGE
Cash From Operating Activities 150.0M 86.00M
Cash From Investing Activities -61.00M -19.00M
Cash From Financing Activities -64.00M -38.00M
Net Change In Cash 25.00M 29.00M
YoY Change -13.79% -136.71%
FREE CASH FLOW
Cash From Operating Activities $150.0M $86.00M
Capital Expenditures -$23.00M -$20.00M
Free Cash Flow $173.0M $106.0M
YoY Change 63.21% 107.84%

Facts In Submission

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Description of Business<div style="margin-top:6pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Warner Music Group Corp. (the “Company”) was formed on November 21, 2003. The Company is the direct parent of WMG Holdings Corp. (“Holdings”), which is the direct parent of WMG Acquisition Corp. (“Acquisition Corp.”). Acquisition Corp. is one of the world’s major music entertainment companies.</span></div><div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Acquisition of Warner Music Group by Access Industries</span></div><div style="margin-top:6pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Pursuant to the Agreement and Plan of Merger, dated as of May 6, 2011 (the “Merger Agreement”), by and among the Company, AI Entertainment Holdings LLC (formerly Airplanes Music LLC), a Delaware limited liability company (“Parent”) and an affiliate of Access Industries, Inc., and Airplanes Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Parent (“Merger Sub”), on July 20, 2011 (the “Merger Closing Date”), Merger Sub merged with and into the Company with the Company surviving as a wholly owned subsidiary of Parent (the “Merger”). In connection with the Merger, the Company delisted its common stock from the New York Stock Exchange.</span></div><div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Initial Public Offering</span></div><div style="margin-top:6pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On June 5, 2020, the Company completed an initial public offering (“IPO”) of 77,000,000 shares of Class A common stock of the Company, par value $0.001 per share (“Class A Common Stock”) at a public offering price of $25 per share. The Company listed these shares on the NASDAQ stock market under the ticker symbol “WMG.” The offering consisted entirely of secondary shares sold by Access Industries, LLC (collectively with its affiliates, “Access”) and certain related selling stockholders. On July 7, 2020, the Company completed the sale of an additional 11,550,000 shares of Class A Common Stock from the selling stockholders to the underwriters of the Company’s IPO pursuant to the exercise by the underwriters of their option to purchase additional shares of Class A Common Stock. The Company did not receive any of the proceeds of the IPO or exercise of the underwriters’ option.</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Following the completion of the IPO and the exercise in full of the underwriters’ option to purchase additional shares, Access and its affiliates held an aggregate of 421,450,000 shares of Class B common stock of the Company, par value $0.001 per share (“Class B Common Stock”), representing approximately 99% of the total combined voting power of the Company’s outstanding common stock and approximately 83% of the economic interest. As a result, the Company is a “controlled company” within the meaning of the corporate governance standards of NASDAQ.</span></div><div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Recorded Music Operations</span></div><div style="margin-top:6pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our Recorded Music business primarily consists of the discovery and development of recording artists and the related marketing, promotion, distribution, sale and licensing of music created by such recording artists. We play an integral role in virtually all aspects of the recorded music value chain from discovering and developing talent to producing, distributing and selling music to marketing and promoting recording artists and their music.</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In the United States, our Recorded Music business is conducted principally through our major record labels—Atlantic Records and Warner Records. In October 2018, we launched Elektra Music Group in the United States as a standalone label group, which comprises the Elektra, Fueled by Ramen and Roadrunner labels. Our Recorded Music business also includes Rhino Entertainment, a division that specializes in marketing our recorded music catalog through compilations, reissuances of previously released music and video titles and releasing previously unreleased material from our vault. We also conduct our Recorded Music business through a collection of additional record labels including Asylum, Big Beat, Canvasback, East West, Erato, FFRR, Nonesuch, Parlophone, Reprise, Sire, Spinnin’ Records, Warner Classics and Warner Music Nashville.</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Outside the United States, our Recorded Music business is conducted in more than 70 countries through various subsidiaries, affiliates and non-affiliated licensees. Internationally, we engage in the same activities as in the United States: discovering and signing artists and distributing, selling, marketing and promoting their music. In most cases, we also market, promote, distribute and sell the music of those recording artists for whom our domestic record labels have international rights. In certain smaller markets, we license the right to distribute and sell our music to non-affiliated third-party record labels.</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Our Recorded Music business’ distribution operations include Warner-Elektra-Atlantic Corporation (“WEA Corp.”), which markets, distributes and sells music and video products to retailers and wholesale distributors; Alternative Distribution Alliance (“ADA”), which markets, distributes and sells the products of independent labels to retail and wholesale distributors; and various distribution centers and ventures operated internationally.</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In addition to our music being sold in physical retail outlets, our music is also sold in physical form to online physical retailers, such as amazon.com, barnesandnoble.com and bestbuy.com, and distributed in digital form to an expanded universe of digital partners, including streaming services such as those of Amazon, Apple, Deezer, SoundCloud, Spotify, Tencent Music Entertainment Group and YouTube, radio services such as iHeart Radio and SiriusXM and download services.</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have integrated the marketing of digital content into all aspects of our business, including artists and repertoire (“A&amp;R”) and distribution. Our business development executives work closely with A&amp;R departments to ensure that while music is being produced, digital assets are also created with all distribution channels in mind, including streaming services, social networking sites, online portals and music-centered destinations. We also work side-by-side with our online and mobile partners to test new concepts. We believe existing and new digital businesses will be a significant source of growth and will provide new opportunities to successfully monetize our assets and create new revenue streams. The proportion of digital revenues attributable to each distribution channel varies by region and proportions may change as the introduction of new technologies continues. As one of the world’s largest music entertainment companies, we believe we are well positioned to take advantage of growth in digital distribution and emerging technologies to maximize the value of our assets.</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We have diversified our revenues beyond our traditional businesses by entering into expanded-rights deals with recording artists in order to partner with such artists in other aspects of their careers. Under these agreements, we provide services to and participate in recording artists’ activities outside the traditional recorded music business such as touring, merchandising and sponsorships. We have built and acquired artist services capabilities and platforms for marketing and distributing this broader set of music-related rights and participating more widely in the monetization of the artist brands we help create. We believe that entering into expanded-rights deals and enhancing our artist services capabilities in areas such as merchandising, VIP ticketing, fan clubs, concert promotion and management has permitted us to diversify revenue streams and capitalize on other revenue opportunities. This provides for improved long-term relationships with our recording artists and allows us to more effectively connect recording artists and fans.</span></div><div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Music Publishing Operations</span></div><div style="margin-top:6pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">While Recorded Music is focused on marketing, promoting, distributing and licensing a particular recording of a musical composition, Music Publishing is an intellectual property business focused on generating revenue from uses of the musical composition itself. In return for promoting, placing, marketing and administering the creative output of a songwriter, or engaging in those activities for other rightsholders, our Music Publishing business garners a share of the revenues generated from use of the musical compositions.</span></div><div style="margin-top:12pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The operations of our Music Publishing business are conducted principally through Warner Chappell Music, our global music publishing company headquartered in Los Angeles, with operations in over 70 countries through various subsidiaries, affiliates and non-affiliated licensees and sub-publishers. We own or control rights to more than one million musical compositions, including numerous pop hits, American standards, folk songs and motion picture and theatrical compositions. Assembled over decades, our award-winning catalog includes over 80,000 songwriters and composers and a diverse range of genres including pop, rock, jazz, classical, country, R&amp;B, hip-hop, rap, reggae, Latin, folk, blues, symphonic, soul, Broadway, techno, alternative and gospel. Warner Chappell Music also administers the music and soundtracks of several third-party television and film producers and studios. We have an extensive production music catalog collectively branded as Warner Chappell Production Music.</span></div>
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CY2021Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
267000000 USD
CY2020Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
273000000 USD
CY2021Q1 us-gaap Operating Lease Liability Current
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42000000 USD
CY2020Q3 us-gaap Operating Lease Liability Current
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39000000 USD
CY2021Q1 us-gaap Operating Lease Liability Noncurrent
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288000000 USD
CY2020Q3 us-gaap Operating Lease Liability Noncurrent
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299000000 USD
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
330000000 USD
CY2020Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P8Y
CY2020Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P8Y
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0.0459
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0.0458
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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29000000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
56000000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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52000000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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49000000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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48000000 USD
CY2021Q1 wmg Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
161000000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
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395000000 USD
CY2021Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
65000000 USD
CY2021Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
330000000 USD
CY2020Q3 us-gaap Goodwill
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us-gaap Goodwill Acquired During Period
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5000000 USD
us-gaap Goodwill Other Increase Decrease
GoodwillOtherIncreaseDecrease
6000000 USD
CY2021Q1 us-gaap Goodwill
Goodwill
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CY2021Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
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CY2020Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
3500000000 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1990000000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1847000000 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1927000000 USD
CY2020Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
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CY2021Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
2081000000 USD
CY2020Q3 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
1807000000 USD
wmg Number Of Asset Acquisitions
NumberOfAssetAcquisitions
2 acquisition
us-gaap Finitelived Intangible Assets Acquired1
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318000000 USD
CY2021Q1 us-gaap Debt Instrument Carrying Amount
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3387000000 USD
CY2020Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3127000000 USD
CY2021Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
33000000 USD
CY2020Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
23000000 USD
CY2021Q1 us-gaap Long Term Debt
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CY2020Q3 us-gaap Long Term Debt
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CY2021Q1 us-gaap Interest Income Expense Nonoperating Net
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CY2020Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-33000000 USD
us-gaap Interest Income Expense Nonoperating Net
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-63000000 USD
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
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CY2021Q1 us-gaap Longterm Debt Weighted Average Interest Rate
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0.037
CY2020Q3 us-gaap Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
0.037
CY2020Q1 us-gaap Longterm Debt Weighted Average Interest Rate
LongtermDebtWeightedAverageInterestRate
0.042
CY2019Q4 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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-33000000 USD
CY2019Q4 wmg Income Tax Benefit Related To Release Of Valuation Allowance
IncomeTaxBenefitRelatedToReleaseOfValuationAllowance
33000000 USD
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
51000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
86000000 USD
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-12000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-7000000 USD
CY2021Q1 us-gaap Decrease In Unrecognized Tax Benefits Is Reasonably Possible
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2000000 USD
us-gaap Maximum Length Of Time Hedged In Interest Rate Cash Flow Hedge1
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CY2021Q1 us-gaap Derivative Fair Value Of Derivative Asset
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6000000 USD
CY2021Q1 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
6000000 USD
us-gaap Number Of Operating Segments
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2 segment
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1250000000 USD
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
151000000 USD
CY2021Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
58000000 USD
CY2021Q1 us-gaap Depreciation
Depreciation
19000000 USD
CY2021Q1 wmg Income Loss From Continuing Operations Before Income Taxes Depreciation And Amortization
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDepreciationAndAmortization
228000000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1071000000 USD
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-49000000 USD
CY2020Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
47000000 USD
CY2020Q1 us-gaap Depreciation
Depreciation
14000000 USD
CY2020Q1 wmg Income Loss From Continuing Operations Before Income Taxes Depreciation And Amortization
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDepreciationAndAmortization
12000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2585000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
347000000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
110000000 USD
us-gaap Depreciation
Depreciation
38000000 USD
wmg Income Loss From Continuing Operations Before Income Taxes Depreciation And Amortization
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDepreciationAndAmortization
495000000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2327000000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
116000000 USD
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
94000000 USD
us-gaap Depreciation
Depreciation
38000000 USD
wmg Income Loss From Continuing Operations Before Income Taxes Depreciation And Amortization
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDepreciationAndAmortization
248000000 USD
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
37000000 USD
CY2020Q1 us-gaap Interest Paid Net
InterestPaidNet
21000000 USD
us-gaap Interest Paid Net
InterestPaidNet
64000000 USD
us-gaap Interest Paid Net
InterestPaidNet
65000000 USD
CY2021Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
35000000 USD
CY2020Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
20000000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
52000000 USD
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
40000000 USD
CY2021Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
63000000 USD
us-gaap Payments Of Dividends
PaymentsOfDividends
125000000 USD
CY2021Q1 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
53000000 USD
CY2020Q3 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
3000000 USD

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