$WMG
Warner Music Group Corp

2018 Q4 Form 10-K Financial Statement

#000156459018031166 Filed on December 20, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2017 Q3 2017 Q2
Revenue $1.203B $917.0M $917.0M
YoY Change 15.12% 9.04% 13.07%
Cost Of Revenue $626.0M $501.0M $519.0M
YoY Change 10.02% 14.91% 15.85%
Gross Profit $577.0M $416.0M $398.0M
YoY Change 21.22% 2.72% 9.64%
Gross Profit Margin 47.96% 45.37% 43.4%
Selling, General & Admin $376.0M $368.0M $296.0M
YoY Change 12.91% 24.75% 16.08%
% of Gross Profit 65.16% 88.46% 74.37%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $68.00M $12.00M $13.00M
YoY Change 4.62% -7.69% 8.33%
% of Gross Profit 11.79% 2.88% 3.27%
Operating Expenses $376.0M $368.0M $296.0M
YoY Change 12.91% 24.75% 16.08%
Operating Profit $147.0M -$1.000M $51.00M
YoY Change 63.33% -101.82% 13.33%
Interest Expense -$36.00M -$37.00M -$36.00M
YoY Change 0.0% -11.9% -16.28%
% of Operating Profit -24.49% -70.59%
Other Income/Expense, Net $28.00M -$19.00M -$21.00M
YoY Change 600.0% 171.43% 320.0%
Pretax Income $136.0M -$57.00M -$9.000M
YoY Change 138.6% 612.5% 200.0%
Income Tax $50.00M -$19.00M -$152.0M
% Of Pretax Income 36.76%
Net Earnings $86.00M -$39.00M $141.0M
YoY Change 2050.0% 875.0% -1666.67%
Net Earnings / Revenue 7.15% -4.25% 15.38%
Basic Earnings Per Share
Diluted Earnings Per Share $168.6K -$76.47K $276.5K
COMMON SHARES
Basic Shares Outstanding 1.052K
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q4 2017 Q3 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $548.0M $647.0M $567.0M
YoY Change -29.38% 80.22% 64.35%
Cash & Equivalents $548.0M $647.0M $567.0M
Short-Term Investments
Other Short-Term Assets $189.0M $185.0M $193.0M
YoY Change 0.0% 3.35% -6.31%
Inventory $66.00M $39.00M $38.00M
Prepaid Expenses
Receivables $704.0M $404.0M $380.0M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $1.433B $1.275B $1.178B
YoY Change -4.59% 40.42% 25.05%
LONG-TERM ASSETS
Property, Plant & Equipment $268.0M $213.0M $203.0M
YoY Change 25.82% 4.93% -1.46%
Goodwill $1.685B
YoY Change 3.56%
Intangibles $1.992B $2.207B $2.137B
YoY Change -7.86% -4.75% -10.47%
Long-Term Investments
YoY Change
Other Assets $93.00M $69.00M $331.0M
YoY Change -70.0% -41.53% 0.61%
Total Long-Term Assets $4.183B $4.443B $4.301B
YoY Change -4.34% -0.4% -5.51%
TOTAL ASSETS
Total Short-Term Assets $1.433B $1.275B $1.178B
Total Long-Term Assets $4.183B $4.443B $4.301B
Total Assets $5.616B $5.718B $5.479B
YoY Change -4.41% 6.5% -0.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $179.0M $208.0M $166.0M
YoY Change 7.83% 1.96% 6.41%
Accrued Expenses $422.0M $365.0M $1.558B
YoY Change -76.97% 22.9% 5.41%
Deferred Revenue $181.0M
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $2.457B $2.100B $1.938B
YoY Change 9.98% 14.01% -0.62%
LONG-TERM LIABILITIES
Long-Term Debt $2.998B $2.811B $2.797B
YoY Change 6.39% -0.04% 0.07%
Other Long-Term Liabilities $308.0M $309.0M $260.0M
YoY Change 0.65% 30.93% 10.17%
Total Long-Term Liabilities $308.0M $3.120B $3.057B
YoY Change -90.14% 2.36% 0.86%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.457B $2.100B $1.938B
Total Long-Term Liabilities $308.0M $3.120B $3.057B
Total Liabilities $5.786B $5.410B $5.171B
YoY Change 4.18% 4.87% -1.99%
SHAREHOLDERS EQUITY
Retained Earnings -$1.133B -$654.0M
YoY Change 74.31% -8.53%
Common Stock $1.128B
YoY Change 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$162.0M $293.0M $308.0M
YoY Change
Total Liabilities & Shareholders Equity $5.616B $5.718B $5.479B
YoY Change -4.41% 6.5% -0.27%

Cashflow Statement

Concept 2018 Q4 2017 Q3 2017 Q2
OPERATING ACTIVITIES
Net Income $86.00M -$39.00M $141.0M
YoY Change 2050.0% 875.0% -1666.67%
Depreciation, Depletion And Amortization $68.00M $12.00M $13.00M
YoY Change 4.62% -7.69% 8.33%
Cash From Operating Activities $92.00M $226.0M $83.00M
YoY Change -32.35% 67.41% 137.14%
INVESTING ACTIVITIES
Capital Expenditures -$31.00M -$20.00M -$16.00M
YoY Change 82.35% -9.09% 60.0%
Acquisitions $207.0M
YoY Change 20600.0%
Other Investing Activities -$207.0M -$100.0M $22.00M
YoY Change -1981.82% -869.23% 266.67%
Cash From Investing Activities -$238.0M -$120.0M $6.000M
YoY Change 3866.67% 1233.33% -250.0%
FINANCING ACTIVITIES
Cash Dividend Paid $0.00
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $182.0M -31.00M -4.000M
YoY Change -6166.67% -72.07% -20.0%
NET CHANGE
Cash From Operating Activities $92.00M 226.0M 83.00M
Cash From Investing Activities -$238.0M -120.0M 6.000M
Cash From Financing Activities $182.0M -31.00M -4.000M
Net Change In Cash $34.00M 75.00M 85.00M
YoY Change -73.64% 400.0% 226.92%
FREE CASH FLOW
Cash From Operating Activities $92.00M $226.0M $83.00M
Capital Expenditures -$31.00M -$20.00M -$16.00M
Free Cash Flow $123.0M $246.0M $99.00M
YoY Change -19.61% 56.69% 120.0%

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CY2018 us-gaap Nature Of Operations
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">1. Description of Business </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Warner Music Group Corp. (the &#8220;Company&#8221;) was formed on November&#160;21, 2003. The Company is the direct parent of WMG Holdings Corp. (&#8220;Holdings&#8221;), which is the direct parent of WMG Acquisition Corp. (&#8220;Acquisition Corp.&#8221;). Acquisition Corp. is one of the world&#8217;s major music-based content companies. </p> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Acquisition of Warner Music Group by Access Industries </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Pursuant to an Agreement and Plan of Merger, dated as of May&#160;6, 2011 (the &#8220;Merger Agreement&#8221;), by and among the Company, AI Entertainment Holdings LLC (formerly Airplanes Music LLC), a Delaware limited liability company (&#8220;Parent&#8221;) and an affiliate of Access Industries, Inc. (&#8220;Access&#8221;), and Airplanes Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Parent (&#8220;Merger Sub&#8221;), on July&#160;20, 2011 (the &#8220;Merger Closing Date&#8221;), Merger Sub merged with and into the Company with the Company surviving as a wholly owned subsidiary of Parent (the &#8220;Merger&#8221;). In connection with the Merger, the Company delisted its common stock from the NYSE. The Company continues voluntarily to file with the SEC current and periodic reports that would be required to be filed with the SEC pursuant to Section&#160;15(d) of the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;) as provided for in certain covenants contained in the instruments covering its outstanding indebtedness. </p> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Recorded Music Operations </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company&#8217;s Recorded Music business primarily consists of the discovery and development of artists and the related marketing, distribution and licensing of recorded music produced by such artists. The Company plays an integral role in virtually all aspects of the recorded music value chain from discovering and developing talent to producing music and promoting artists and their products. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In the United States, Recorded Music operations are conducted principally through the Company&#8217;s major record labels&#8212; Atlantic Records and Warner Bros. Records. In October 2018, the Company launched Elektra Music Group in the United States as a standalone label group, which comprises the Elektra, Fueled by Ramen and Roadrunner labels. The Company&#8217;s Recorded Music operations also include Rhino, a division that specializes in marketing the Company&#8217;s music catalog through compilations and reissuances of previously released music and video titles. The Company also conducts its Recorded Music operations through a collection of additional record labels, including, Asylum, Big Beat, Canvasback, East West, Erato, FFRR, Nonesuch, Parlophone, Reprise, Sire, Spinnin&#8217;, Warner Classics and Warner Music Nashville. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Outside the United States, Recorded Music activities are conducted in more than 50 countries through various subsidiaries, affiliates and non-affiliated licensees. Internationally, the Company engages in the same activities as in the United States: discovering and signing artists and distributing, marketing and selling their recorded music. In most cases, the Company also markets and distributes the music of those artists for whom the Company&#8217;s domestic record labels have international rights. In certain smaller markets, the Company licenses the right to distribute the Company&#8217;s records to non-affiliated third-party record labels. The Company&#8217;s international artist services operations include a network of concert promoters through which it provides resources to coordinate tours for the Company&#8217;s artists and other artists as well as management companies that guide artists with respect to their careers. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company&#8217;s Recorded Music distribution operations include Warner-Elektra-Atlantic Corporation (&#8220;WEA Corp.&#8221;), which markets and sells music and video products to retailers and wholesale distributors; Alternative Distribution Alliance (&#8220;ADA&#8221;), which distributes the products of independent labels to retail and wholesale distributors; and various distribution centers and ventures operated internationally. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company&#8217;s Recorded Music products are sold in digital form to an expanded universe of digital partners, including digital streaming services such as Amazon, Apple Music, Deezer, Napster, Soundcloud, Spotify, Tencent and YouTube, digital radio services such as iHeart Radio, Pandora and Sirius XM and digital download services such as Apple&#8217;s iTunes and Google Play. In addition, Recorded Music products are also sold in physical retail outlets and in physical form to online physical retailers such as Amazon.com and bestbuy.com. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has integrated the exploitation of digital content into all aspects of its business, including A&amp;R, marketing, promotion and distribution. The Company&#8217;s 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. The Company also works side by side with its digital partners to test new concepts. The Company believes existing and new digital businesses will be a significant source of growth and will provide new opportunities to successfully monetize its assets and create new revenue streams. The proportion of digital revenues attributed to each distribution channel varies by region and proportions may change as the roll out of new technologies continues. As an owner of music content, the Company believes it is well positioned to take advantage of growth in digital distribution and emerging technologies to maximize the value of its assets. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company has diversified its revenues beyond its traditional businesses by entering into expanded-rights deals with recording artists in order to partner with artists in other aspects of their careers. Under these agreements, the Company provides services to and participates in artists&#8217; activities outside the traditional recorded music business such as touring, merchandising and sponsorships. The Company has built artist services capabilities and platforms for exploiting this broader set of music-related rights and participating more widely in the monetization of the artist brands it helps create. The Company believes that entering into expanded-rights deals and enhancing its artist services capabilities in areas such as concert promotion and management have permitted it to diversify revenue streams and capitalize on other revenue opportunities. This provides for improved long-term relationships with artists and allows the Company to more effectively connect artists and fans. </p> <p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-style:italic;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">Music Publishing Operations </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">While recorded music is focused on exploiting a particular recording of a composition, music publishing is an intellectual property business focused on the exploitation of the composition itself. In return for promoting, placing, marketing and administering the creative output of a songwriter, or engaging in those activities for other rightsholders, the Company&#8217;s Music Publishing business garners a share of the revenues generated from use of the composition. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company&#8217;s Music Publishing operations are conducted principally through Warner/Chappell, its global Music Publishing company, headquartered in Los Angeles with operations in over 50 countries through various subsidiaries, affiliates and non-affiliated licensees. The Company owns or controls 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, its award-winning catalog includes over 70,000 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 also administers the music and soundtracks of several third-party television and film producers and studios. The Company has an extensive production music library collectively branded as Warner/Chappell Production Music. </p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:9pt;">&nbsp;</p>
CY2018 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Reclassifications </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Certain reclassifications have been made to the prior fiscal years&#8217; consolidated financial statements to conform to the current fiscal-year presentation. </p>
CY2018 us-gaap Use Of Estimates
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<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and the accompanying notes. Actual results could differ from those estimates. </p>
CY2018 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Concentration of Credit Risk </p> <p style="margin-bottom:0pt;margin-top:6pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Customer credit risk represents the potential for financial loss if a customer is unwilling or unable to meet its agreed upon contractual payment obligations. As of September 30, 2018 and September 30, 2017, Spotify represented 18% and 15%, respectively, of the Company&#8217;s accounts receivable balance. No other single customer accounted for more than 10% of accounts receivable in either period. The Company, by policy, routinely assesses the financial strength of its customers. As such, the Company does not believe there is any significant collection risk. </p> <p style="margin-bottom:0pt;margin-top:12pt;text-indent:4.54%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In the Music Publishing business, the Company collects a significant portion of its royalties from copyright collection societies around the world. Collection societies and associations generally are not-for-profit organizations that represent composers, songwriters and music publishers. These organizations seek to protect the rights of their members by licensing, collecting license fees and distributing royalties for the use of the members&#8217; works. Accordingly, the Company does not believe there is any significant collection risk from such societies. </p>
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CY2018Q3 us-gaap Interest Income Expense Nonoperating Net
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-33000000
CY2018Q1 us-gaap Interest Income Expense Nonoperating Net
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-36000000
CY2018Q3 us-gaap Other Nonoperating Income Expense
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CY2018Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2018Q3 us-gaap Income Tax Expense Benefit
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-2000000
CY2018Q3 us-gaap Profit Loss
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-13000000
CY2018Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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CY2018Q3 us-gaap Net Income Loss
NetIncomeLoss
-14000000
CY2018Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2018Q3 us-gaap Depreciation
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14000000
CY2017Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
917000000
CY2017Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
917000000
CY2017Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
825000000
CY2016Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
917000000
CY2017Q3 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
501000000
CY2017Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
519000000
CY2017Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
415000000
CY2016Q4 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
496000000
CY2017Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
368000000
CY2017Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
296000000
CY2017Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
282000000
CY2016Q4 us-gaap Selling General And Administrative Expense
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276000000
CY2017Q3 us-gaap Amortization Of Intangible Assets
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49000000
CY2017Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
51000000
CY2017Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
50000000
CY2016Q4 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
51000000
CY2017Q3 us-gaap Costs And Expenses
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918000000
CY2017Q2 us-gaap Costs And Expenses
CostsAndExpenses
866000000
CY2017Q1 us-gaap Costs And Expenses
CostsAndExpenses
747000000
CY2016Q4 us-gaap Costs And Expenses
CostsAndExpenses
823000000
CY2017Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2017Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2017Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2016Q4 us-gaap Operating Income Loss
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CY2017Q2 us-gaap Gains Losses On Extinguishment Of Debt
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CY2016Q4 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
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CY2017Q3 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-37000000
CY2018 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
516000000
CY2018 wmg Cash Dividends Paid Received
CashDividendsPaidReceived
925000000
CY2017Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-36000000
CY2017Q1 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-36000000
CY2016Q4 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
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CY2017Q3 us-gaap Other Nonoperating Income Expense
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CY2017Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2017Q1 us-gaap Other Nonoperating Income Expense
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CY2016Q4 us-gaap Other Nonoperating Income Expense
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CY2017Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2017Q2 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2017Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2016Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
41000000
CY2017Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2017Q2 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2017Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2016Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2017Q3 us-gaap Profit Loss
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CY2017Q2 us-gaap Profit Loss
ProfitLoss
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CY2017Q1 us-gaap Profit Loss
ProfitLoss
20000000
CY2016Q4 us-gaap Profit Loss
ProfitLoss
24000000
CY2017Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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CY2017Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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CY2017Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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CY2016Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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CY2017Q3 us-gaap Net Income Loss
NetIncomeLoss
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CY2017Q2 us-gaap Net Income Loss
NetIncomeLoss
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CY2017Q1 us-gaap Net Income Loss
NetIncomeLoss
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CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
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CY2017Q3 us-gaap Depreciation
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CY2017Q2 us-gaap Depreciation
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CY2017Q1 us-gaap Depreciation
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CY2016Q4 us-gaap Depreciation
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CY2018 wmg Other Non Operating Income Expense Excluding Equity Method Investments
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394000000
CY2017 us-gaap Income Loss From Equity Method Investments
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CY2017 wmg Other Non Operating Income Expense Excluding Equity Method Investments
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CY2016 wmg Other Non Operating Income Expense Excluding Equity Method Investments
OtherNonOperatingIncomeExpenseExcludingEquityMethodInvestments
18000000
CY2018 wmg Depreciation Depletion Amortization And Recoveries
DepreciationDepletionAmortizationAndRecoveries
261000000
CY2018 wmg Gain Loss On Sale Of Business And Investments
GainLossOnSaleOfBusinessAndInvestments
389000000
CY2018 us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
-5000000
CY2017 wmg Depreciation Depletion Amortization And Recoveries
DepreciationDepletionAmortizationAndRecoveries
251000000
CY2017 wmg Gain Loss On Sale Of Business And Investments
GainLossOnSaleOfBusinessAndInvestments
-17000000
CY2017 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
73000000
CY2017 us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
-5000000
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DepreciationDepletionAmortizationAndRecoveries
293000000
CY2016 wmg Gain Loss On Sale Of Business And Investments
GainLossOnSaleOfBusinessAndInvestments
9000000
CY2016 us-gaap Proceeds From Divestiture Of Businesses Net Of Cash Divested
ProceedsFromDivestitureOfBusinessesNetOfCashDivested
45000000
CY2016 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
10000000
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ProceedsFromPaymentsToMinorityShareholders
-5000000

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