Analysis of Reportable Segments
Warner Bros. Discovery Inc. operates in 2 segments: U.S. Networks and International Networks.
Segment Profit Margin
Warner Bros. Discovery Inc., profit margin by reportable segment
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| U.S. Networks | 51.42% | 57.20% | 58.05% | 55.12% | 59.00% |
| International Networks | 10.88% | 19.47% | 26.16% | 25.96% | 26.18% |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | U.S. Networks | U.S. Networks segment profit margin ratio deteriorated from 2019 to 2020 and from 2020 to 2021. |
| International Networks | International Networks segment profit margin ratio deteriorated from 2019 to 2020 and from 2020 to 2021. |
Segment Profit Margin: U.S. Networks
Warner Bros. Discovery Inc.; U.S. Networks; segment profit margin calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Adjusted OIBDA | 3,940) | 3,975) | 4,117) | 3,500) | 2,026) |
| Revenues | 7,662) | 6,949) | 7,092) | 6,350) | 3,434) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 51.42% | 57.20% | 58.05% | 55.12% | 59.00% |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Segment profit margin = 100 × Adjusted OIBDA ÷ Revenues
= 100 × 3,940 ÷ 7,662 = 51.42%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | U.S. Networks | U.S. Networks segment profit margin ratio deteriorated from 2019 to 2020 and from 2020 to 2021. |
Segment Profit Margin: International Networks
Warner Bros. Discovery Inc.; International Networks; segment profit margin calculation
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Adjusted OIBDA | 494) | 723) | 1,057) | 1,077) | 859) |
| Revenues | 4,539) | 3,713) | 4,041) | 4,149) | 3,281) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 10.88% | 19.47% | 26.16% | 25.96% | 26.18% |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
1 2021 Calculation
Segment profit margin = 100 × Adjusted OIBDA ÷ Revenues
= 100 × 494 ÷ 4,539 = 10.88%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | International Networks | International Networks segment profit margin ratio deteriorated from 2019 to 2020 and from 2020 to 2021. |
Revenues
Warner Bros. Discovery Inc., revenues by reportable segment
US$ in millions
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| U.S. Networks | 7,662) | 6,949) | 7,092) | 6,350) | 3,434) |
| International Networks | 4,539) | 3,713) | 4,041) | 4,149) | 3,281) |
| Corporate, inter-segment eliminations, and other | (10) | 9) | 11) | 54) | 158) |
| Total | 12,191) | 10,671) | 11,144) | 10,553) | 6,873) |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
Adjusted OIBDA
Warner Bros. Discovery Inc., adjusted oibda by reportable segment
US$ in millions
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | Dec 31, 2017 | |
|---|---|---|---|---|---|
| U.S. Networks | 3,940) | 3,975) | 4,117) | 3,500) | 2,026) |
| International Networks | 494) | 723) | 1,057) | 1,077) | 859) |
| Corporate, inter-segment eliminations, and other | (617) | (502) | (503) | (438) | (354) |
| Total | 3,817) | 4,196) | 4,671) | 4,139) | 2,531) |
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).