View Filing Data

$ 1,058

$ 958

$ 3,351

$ 2,966

(577)

(531)

(1,762)

(1,588)

^[1]

(372)

(343)

(1,102)

(1,013)

Amortization expense

(51)

(56)

(160)

(164)

(1,000)

(930)

(3,024)

(2,765)

327

201

Other (expense) income, net

(4)

(7)

(31)

Interest expense, net

(36)

(33)

(108)

(105)

(16)

394

392

Income tax benefit (expense)

382

253

457

(61)

(86)

(132)

Less: Income attributable to noncontrolling interest

321

167

325

(1)

(4)

Net income attributable to Warner Music Group Corp.

$ 13

$ 320

$ 166

$ 321

[1]	(a) Includes depreciation expense of:$(15) $(15) $(43) $(41)

Consolidated Statements of Operations (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Depreciation expense	$ (15)	$ (15)	$ (43)	$ (41)

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 14	$ 321	$ 167	$ 325
Other comprehensive income (loss), net of tax:
Foreign currency adjustment	9	(31)	(17)	(13)
Deferred loss on derivative	(3)	(3)	(12)	(1)
Other comprehensive income (loss), net of tax	6	(34)	(29)	(14)
Total comprehensive income	20	287	138	311
Less: Income attributable to noncontrolling interest	(1)	(1)	(1)	(4)
Comprehensive income attributable to Warner Music Group Corp.	$ 19	$ 286	$ 137	$ 307

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities
Net income	$ 167	$ 325
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	203	205
Unrealized gains on remeasurement of foreign denominated loans	(6)	(6)
Deferred income taxes	25	105
Loss on extinguishment of debt	7	31
Net gain on divestitures and investments	(27)	(385)
Non-cash interest expense	5	5
Equity-based compensation expense	28	52
Changes in operating assets and liabilities:
Accounts receivable, net	(50)	(43)
Inventories	12	(1)
Royalty advances	(107)	0
Accounts payable and accrued liabilities	(94)	(84)
Royalty payables	117	113
Accrued interest	(13)	(22)
Deferred revenue	(17)	0
Other balance sheet changes	(1)	(30)
Net cash provided by operating activities	249	265
Cash flows from investing activities
Acquisition of music publishing rights, net	(24)	(11)
Capital expenditures	(82)	(40)
Investments and acquisitions of businesses, net of cash received	(234)	(14)
Proceeds from the sale of investments	0	516
Net cash (used in) provided by investing activities	(340)	451
Cash flows from financing activities
Proceeds from supplement of Acquisition Corp. Senior Term Loan Facility	0	320
Call premiums paid and deposit on early redemption of debt	(5)	(23)
Deferred financing costs paid	(7)	(12)
Distribution to noncontrolling interest holder	(3)	(3)
Dividends paid	(63)	(425)
Net cash provided by (used in) financing activities	119	(453)
Effect of exchange rate changes on cash and equivalents	(1)	(5)
Net increase in cash and equivalents	27	258
Cash and equivalents at beginning of period	514	647
Cash and equivalents at end of period	541	905
3.625% Senior Secured Notes
Cash flows from financing activities
Proceeds from issuance Senior Notes	514	0
4.125% Senior Secured Notes
Cash flows from financing activities
Repayment of Senior Secured Notes	(40)	0
4.875% Senior Secured Notes
Cash flows from financing activities
Repayment of Senior Secured Notes	(30)	0
5.625% Senior Secured Notes
Cash flows from financing activities
Repayment of Senior Secured Notes	(247)	0
5.50% Senior Notes
Cash flows from financing activities
Proceeds from issuance Senior Notes	0	325
6.75% Senior Notes
Cash flows from financing activities
Repayment of and redemption deposit for Acquisition Corp. Senior Notes	$ 0	$ (635)

Consolidated Statements of Cash Flows (Unaudited) (Parenthetical)	Jun. 30, 2019	Jun. 30, 2018
3.625% Senior Secured Notes
Interest rate	3.625%	3.625%
4.125% Senior Secured Notes
Interest rate	4.125%	4.125%
4.875% Senior Secured Notes
Interest rate	4.875%	4.875%
5.625% Senior Secured Notes
Interest rate	5.625%	5.625%
5.50% Senior Notes
Interest rate	5.50%	5.50%
6.75% Senior Notes
Interest rate	6.75%	6.75%

Consolidated Statement of (Deficit) Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss	Total Warner Music Group Corp. Deficit	Noncontrolling Interest
Beginning balance (in shares) at Sep. 30, 2017		1,055
Beginning balance at Sep. 30, 2017	$ 308	$ 0	$ 1,128	$ (654)	$ (181)	$ 293	$ 15
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	325			321		321	4
Other comprehensive income (loss), net of tax	(14)				(14)	(14)
Dividends	(425)			(425)		(425)
Distribution to noncontrolling interest holders	(3)						(3)
Other (in shares)		(3)
Ending balance (in shares) at Jun. 30, 2018		1,052
Ending balance at Jun. 30, 2018	191	$ 0	1,128	(758)	(195)	175	16
Beginning balance (in shares) at Mar. 31, 2018		1,052
Beginning balance at Mar. 31, 2018	205	$ 0	1,128	(778)	(161)	189	16
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	321			320		320	1
Other comprehensive income (loss), net of tax	(34)				(34)	(34)
Dividends	(300)			(300)		(300)
Distribution to noncontrolling interest holders	(1)						(1)
Ending balance (in shares) at Jun. 30, 2018		1,052
Ending balance at Jun. 30, 2018	$ 191	$ 0	1,128	(758)	(195)	175	16
Beginning balance (in shares) at Sep. 30, 2018	1,052	1,052
Beginning balance at Sep. 30, 2018	$ (320)	$ 0	1,128	(1,272)	(190)	(334)	14
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of ASC 606 adoption	150			139		139	11
Net income	167			166		166	1
Other comprehensive income (loss), net of tax	(29)				(29)	(29)
Dividends	(94)			(94)		(94)
Distribution to noncontrolling interest holders	(3)						(3)
Other (in shares)		8
Other	$ (4)						(4)
Ending balance (in shares) at Jun. 30, 2019	1,052	1,060
Ending balance at Jun. 30, 2019	$ (133)	$ 0	1,128	(1,061)	(219)	(152)	19
Beginning balance (in shares) at Mar. 31, 2019		1,060
Beginning balance at Mar. 31, 2019	(120)	$ 0	1,128	(1,043)	(225)	(140)	20
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	14			13		13	1
Other comprehensive income (loss), net of tax	6				6	6
Dividends	(31)			(31)		(31)
Distribution to noncontrolling interest holders	(1)						(1)
Other	$ (1)						(1)
Ending balance (in shares) at Jun. 30, 2019	1,052	1,060
Ending balance at Jun. 30, 2019	$ (133)	$ 0	$ 1,128	$ (1,061)	$ (219)	$ (152)	$ 19

Description of Business	9 Months Ended
Description of Business	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business 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-based content companies. Acquisition of Warner Music Group by Access Industries Pursuant to an 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. (“Access”), 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 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 15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) as provided for in certain covenants contained in the instruments covering its outstanding indebtedness. Recorded Music Operations The Company’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. In the United States, Recorded Music operations are conducted principally through the Company’s major record labels— Warner Records and Atlantic 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’s Recorded Music operations also include Rhino, a division that specializes in marketing the Company’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’, Warner Classics and Warner Music Nashville. 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’s domestic record labels have international rights. In certain smaller markets, the Company licenses the right to distribute the Company’s records to non-affiliated third-party record labels. The Company’s international artist services operations include a network of concert promoters through which it provides resources to coordinate tours for the Company’s artists and other artists as well as management companies that guide artists with respect to their careers. The Company’s Recorded Music distribution operations include Warner-Elektra-Atlantic Corporation (“WEA Corp.”), which markets and sells music and video products to retailers and wholesale distributors; Alternative Distribution Alliance (“ADA”), which distributes the products of independent labels to retail and wholesale distributors; and various distribution centers and ventures operated internationally. The Company’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’s iTunes and Google Play. In addition, Recorded Music products are sold in physical retail outlets and in physical form to online physical retailers such as Amazon.com and bestbuy.com The Company has integrated the exploitation of digital content into all aspects of its business, including artist and repertoire (“A&R”), marketing, promotion and distribution. The Company’s business development executives work closely with A&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. 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’ 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, merchandising 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. Music Publishing Operations While recorded music is focused on exploiting a 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’s Music Publishing business garners a share of the revenues generated from use of the composition. The Company’s Music Publishing operations are conducted principally through Warner Chappell Music, 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&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. The Company has an extensive production music library collectively branded as Warner Chappell Production Music.

Summary of Significant Accounting Policies

9 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Interim Financial Statements

The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all the information and notes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and nine month periods ended June 30, 2019 are not necessarily indicative of the results that may be expected for the fiscal year ending September 30, 2019.

The consolidated balance sheet at September 30, 2018 has been derived from the audited consolidated financial statements at that date but does not include all the information and notes required by U.S. GAAP for complete financial statements.

For further information, refer to the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended September 30, 2018 (File No. 001-32502).

Basis of Consolidation

The accompanying financial statements present the consolidated accounts of all entities in which the Company has a controlling voting interest and/or variable interest required to be consolidated in accordance with U.S. GAAP. All intercompany balances and transactions have been eliminated.

Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 810, Consolidation (“ASC 810”), requires the Company first evaluate its investments to determine if any investments qualify as a variable interest entity (“VIE”). A VIE is consolidated if the Company is deemed to be the primary beneficiary of the VIE, which is the party involved with the VIE that has both (i) the power to control the most significant activities of the VIE and (ii) either the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. If an entity is not deemed to be a VIE, the Company consolidates the entity if the Company has a controlling voting interest.

The Company maintains a 52-53 week fiscal year ending on the last Friday in each reporting period. As such, all references to June 30, 2019 and June 30, 2018 relate to the periods ended June 28, 2019 and June 29, 2018, respectively. For convenience purposes, the Company continues to date its financial statements as of June 30. The fiscal year ended September 30, 2018 ended on September 28, 2018.

The Company has performed a review of all subsequent events through the date the financial statements were issued and has determined that no additional disclosures are necessary.

Income Taxes

At the end of each interim period, the Company makes its best estimate of the effective tax rate expected to be applicable for the full fiscal year and uses that rate to provide for income taxes on a current year-to-date basis before discrete items.

On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”). In accordance with ASC Topic 740, Income Taxes (“ASC 740”) the Company recorded the impacts in the period of enactment.

New Accounting Pronouncements

Adoption of New Revenue Recognition Standard

In May 2014, the FASB issued guidance codified in ASC 606, Revenue from Contracts with Customers (“ASC 606”), which replaces the guidance in former ASC 605, Revenue Recognition and ASC 928-605, Entertainment – Music. The amendment was the result of a joint effort by the FASB and the International Accounting Standards Board to improve financial reporting by creating common revenue recognition guidance for U.S. GAAP and international financial reporting standards ("IFRS"). The joint project clarifies the principles for recognizing revenue and develops a common revenue standard for U.S. GAAP and IFRS.

The Company adopted ASC 606 on October 1, 2018, using the modified retrospective method to all contracts not completed as of the date of adoption. The reported results as of and for the three and nine months ended June 30, 2019 reflect the application of the new standard, while the reported results for the three and nine months ended June 30, 2018 have not been adjusted to reflect the new standard and were prepared under prior revenue recognition accounting guidance.

The adoption of ASC 606 resulted in a change in the timing of revenue recognition in the Company’s Music Publishing segment as well as international broadcast rights within Recorded Music. Under the new revenue recognition rules, revenue is recorded based on best estimates available in the period of sale or usage whereas revenue was previously recorded when cash was received for both the licensing of publishing rights and international Recorded Music broadcast fees. Additionally, for certain licenses where the consideration is fixed and the intellectual property being licensed is static, revenue is recognized at the point in time when control of the licensed content is transferred to the customer. As a result of adopting ASC 606, the Company recorded a decrease to the opening accumulated deficit of approximately $139 million, net of tax, as of October 1, 2018. The Company also reclassified $28 million from accounts receivable to other current liabilities related to estimated refund liabilities for our physical sales.

The following table provides the cumulative effect of the changes made to the opening balance sheet, as of October 1, 2018, from the adoption of ASC 606 and which primarily relates to the accrual of licensing revenue in the period of sale or usage.



	September 30, 2018			Impact of Adoption			October 1, 2018
	(in millions)
Assets
Accounts receivable, net	$	447		$	257		$	704
Total current assets	1,176			257			1,433
Other assets	78			15			93
Total assets	$	5,344		$	272		$	5,616
Liabilities and Equity
Accrued royalties	1,396			79			1,475
Accrued liabilities	423			(1		)	422
Deferred revenue	208			(27		)	181
Other current liabilities	34			33			67
Total current liabilities	2,373			84			2,457
Deferred tax liabilities, net	165			37			202
Other noncurrent liabilities	307			1			308
Total liabilities	5,664			122			5,786
Equity:
Accumulated Deficit	(1,272		)	139			(1,133		)
Noncontrolling interest	14			11			25
Total equity	(320		)	150			(170		)
Total liabilities and equity	$	5,344		$	272		$	5,616

The disclosure of the impact of adoption on the consolidated statement of operations for the three and nine months ended June 30, 2019, the consolidated balance sheet as of June 30, 2019, and the consolidated statement of cash flows for the nine months ended June 30, 2019 are as follows (in millions):



	Three Months Ended June 30, 2019									Nine Months Ended June 30, 2019
	As Reported			Balances without adoption of ASC 606			Effect of Change			As Reported			Balances without adoption of ASC 606			Effect of Change
	(in millions)									(in millions)
Revenue	$	1,058		$	1,057		$	1		$	3,351		$	3,322		$	29
Cost and expenses:
Cost of revenue	(577		)	(558		)	(19		)	(1,762		)	(1,765		)	3
Operating income	58			76			(18		)	327			295			32
Income before income taxes	2			20			(18		)	253			221			32
Income tax benefit (expense)	12			17			(5		)	(86		)	(75		)	(11		)
Net income	14			37			(23		)	167			146			21
Less: Income attributable to noncontrolling interest	(1		)	—			(1		)	(1		)	(3		)	2
Net income attributable to Warner Music Group Corp.	$	13		$	37		$	(24	)	$	166		$	143		$	23



	June 30, 2019
	As Reported			Balances without adoption of ASC 606			Effect of Change
	(in millions)
Assets
Accounts receivable, net	$	744		$	465		$	279
Total current assets	1,580			1,301			279
Other assets	158			143			15
Deferred tax assets, net	7			7			—
Total assets	$	5,955		$	5,661		$	294
Liabilities and Equity
Accounts payable	208			209			(1		)
Accrued royalties	1,577			1,501			76
Accrued liabilities	448			449			(1		)
Deferred revenue	170			199			(29		)
Other current liabilities	123			95			28
Total current liabilities	2,544			2,471			73
Deferred tax liabilities, net	236			189			47
Other noncurrent liabilities	302			298			4
Total liabilities	6,088			5,964			124
Equity:
Accumulated deficit	(1,061		)	(1,221		)	160
Noncontrolling interest	19			9			10
Total equity	(133		)	(303		)	170
Total liabilities and equity	$	5,955		$	5,661		$	294



	June 30, 2019
	As Reported			Balances without adoption of ASC 606			Effect of Change
	(in millions)
Cash flows from operating activities
Net income	$	167		$	146		$	21
Deferred income taxes	25			15			10
Changes in operating assets and liabilities:
Accounts receivable, net	(50		)	(28		)	(22		)
Accounts payable and accrued liabilities	(94		)	(96		)	2
Royalty advances	(107		)	(104		)	(3		)
Deferred revenue	(17		)	(15		)	(2		)
Other balance sheet changes	(1		)	5			(6		)
Net cash provided by operating activities	249			249			—
Effect of exchange rate changes on cash and equivalents	(1		)	(1		)	—
Net decrease in cash and equivalents	27			27			—
Cash and equivalents at beginning of period	514			514			—
Cash and equivalents at end of period	$	541		$	541		$	—

Recently Adopted Accounting Pronouncements

In January 2016, the FASB issued ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU 2016-01”). This ASU will require that equity investments, except those investments under the equity method of accounting, are measured at fair value with changes in fair value recognized in net income. The Company may elect to measure equity investments that do not have a readily determinable fair value at cost minus impairment, if any, plus or minus changes resulting from observable prices. The Company adopted ASU 2016-01 on October 1, 2018 and has elected to use the measurement alternative to measure our equity investments without readily determinable fair values. This guidance was applied prospectively and did not have a significant impact on the Company’s financial statements. For the nine months ended June 30, 2019, there were no observable price change events that were completed related to our equity investments without readily determinable fair values.

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments ("ASU 2016-15"). This ASU provides specific guidance of how certain cash receipts and cash payments should be presented and classified in the statement of cash flows. ASU 2016-15 is effective for annual periods beginning after December 15, 2017, and interim periods within those years. The Company adopted ASU 2016-15 in the first quarter of fiscal 2019 and this adoption did not have a significant impact on the Company’s financial statements.

In October 2016, the FASB issued ASU 2016-16, Income Taxes: Intra-Entity Transfers of Assets Other Than Inventory ("ASU 2016-16"). This ASU requires the recognition of current and deferred income taxes for intra-entity asset transfers when the transaction occurs. ASU 2016-16 is effective for annual periods beginning after December 15, 2017, and interim periods within those years. The Company adopted ASU 2016-16 in the first quarter of fiscal 2019 and this adoption did not have a significant impact on the Company’s financial statements.

In January of 2017, the FASB issued ASU 2017-01, Business Combinations (“ASU 2017-01”), to clarify the definition of a business, which establishes a process to determine when an integrated set of assets and activities can be deemed a business combination. The Company adopted ASU 2017-01 in the first quarter of fiscal 2019 and this adoption did not have a significant impact on the Company’s financial statements.

In February 2018, FASB issued ASU 2018-02, Income Statement – Reporting Comprehensive Income (“ASU 2018-02”). This ASU allows a reclassification from accumulated other comprehensive income to accumulated deficit for stranded tax effects resulting from the Tax Act. ASU 2018-02 is effective for all entities for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. Early adoption is permitted, including adoption in any interim period. The Company adopted ASU 2018-02 in the first quarter of fiscal 2019 and this adoption did not have a significant impact on the Company’s financial statements.

Accounting Pronouncements Not Yet Adopted

In February 2016, the FASB issued ASU 2016-02, Leases (“ASU 2016-02”), which established a new ASC Topic 842 (ASC 842). This ASU establishes a right-of-use (“ROU”) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the statement of operations. ASU 2016-02 will be effective for annual periods beginning after December 15, 2018, and interim periods within those years. Earlier adoption is permitted. In July 2018, the FASB issued ASU 2018-11, Leases - Targeted Improvements (“ASU 2018-11”), which allows for retrospective application with the recognition of a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption. Under this option, entities would not need to apply ASC 842 (along with its disclosure requirements) to the comparative prior periods presented.

Upon adoption, the Company expects that most of our operating leases will be recognized as operating lease liabilities and ROU assets on our consolidated balance sheet. The Company continues to evaluate the impact of the adoption of this standard on its financial statements and disclosures and expects to elect the optional transition method that allows for a cumulative-effect adjustment upon adoption.

In August 2017, the FASB issued ASU 2017-12, Targeted Improvements to Accounting for Hedging Activities (“ASU 2017-12”). This ASU improves certain aspects of the hedge accounting model including making more risk management strategies eligible for hedge accounting and simplifying the assessment of hedge effectiveness. ASU 2017-12 is effective for all annual periods beginning after December 15, 2018 and interim periods within those fiscal years. Early adoption is permitted and requires a prospective adoption with a cumulative-effect adjustment to accumulated deficit as of the beginning of the fiscal year of adoption for existing hedging relationships. The Company is evaluating the impact of the adoption of this standard on its financial statements and disclosures.

Revenue Recognition

9 Months Ended

Jun. 30, 2019

Revenue from Contract with Customer [Abstract]

Revenue Recognition

For our operating segments, Recorded Music and Music Publishing, the Company accounts for a contract when it has legally enforceable rights and obligations and collectability of consideration is probable. The Company identifies the performance obligations and determines the transaction price associated with the contract, which is then allocated to each performance obligation, using management’s best estimate of standalone selling price for arrangements with multiple performance obligations. Revenue is recognized when, or as, control of the promised services or goods is transferred to our customers, and in an amount that reflects the consideration the Company is contractually due in exchange for those services or goods. An estimate of variable consideration is included in the transaction price if, in the Company’s judgment, it is probable that a significant future reversal of cumulative revenue under the contract will not occur. Certain of our arrangements include licenses of intellectual property with consideration in the form of sales- and usage-based royalties. Royalty revenue is recognized when the subsequent sale or usage occurs using the best estimates available of the amounts that will be received by the Company.

Disaggregation of Revenue

Our revenue consists of the following categories, which aggregate into our segments - Recorded Music and Music Publishing (in millions):



	For the Three Months Ended June 30,						2019 vs. 2018
	2019			2018			$ Change			% Change
Revenue by Type
Digital	$	584		$	519		$	65		13	%
Physical	95			130			(35		)	-27	%
Total Digital and Physical	679			649			30			5	%
Artist services and expanded-rights	158			85			73			86	%
Licensing	76			68			8			12	%
Total Recorded Music	913			802			111			14	%
Performance	36			51			(15		)	-29	%
Digital	65			59			6			10	%
Mechanical	13			17			(4		)	-24	%
Synchronization	29			28			1			4	%
Other	4			4			—			—	%
Total Music Publishing	147			159			(12		)	-8	%
Intersegment eliminations	(2		)	(3		)	1			-33	%
Total Revenue	$	1,058		$	958		$	100		10	%
Revenue by Geographical Location
U.S. Recorded Music	$	395		$	356		$	39		11	%
U.S. Music Publishing	71			69			2			3	%
Total U.S.	466			425			41			10	%
International Recorded Music	518			446			72			16	%
International Music Publishing	76			90			(14		)	-16	%
Total International	594			536			58			11	%
Intersegment eliminations	(2		)	(3		)	1			-33	%
Total Revenue	$	1,058		$	958		$	100		10	%



	For the Nine Months Ended June 30,						2019 vs. 2018
	2019			2018			$ Change			% Change
Revenue by Type
Digital	$	1,744		$	1,491		$	253		17	%
Physical	456			500			(44		)	-9	%
Total Digital and Physical	2,200			1,991			209			10	%
Artist services and expanded-rights	458			264			194			73	%
Licensing	229			242			(13		)	-5	%
Total Recorded Music	2,887			2,497			390			16	%
Performance	135			153			(18		)	-12	%
Digital	195			169			26			15	%
Mechanical	41			55			(14		)	-25	%
Synchronization	89			90			(1		)	-1	%
Other	10			9			1			11	%
Total Music Publishing	470			476			(6		)	-1	%
Intersegment eliminations	(6		)	(7		)	1			-14	%
Total Revenue	$	3,351		$	2,966		$	385		13	%
Revenue by Geographical Location
U.S. Recorded Music	$	1,236		$	1,061		$	175		16	%
U.S. Music Publishing	219			220			(1		)	—	%
Total U.S.	1,455			1,281			174			14	%
International Recorded Music	1,651			1,436			215			15	%
International Music Publishing	251			256			(5		)	-2	%
Total International	1,902			1,692			210			12	%
Intersegment eliminations	(6		)	(7		)	1			-14	%
Total Revenue	$	3,351		$	2,966		$	385		13	%

Recorded Music

Recorded Music mainly involves selling, marketing, distribution and licensing of recorded music produced by our artists. Recorded Music revenues are derived from four main sources, which include digital, physical, artist services and expanded rights and licensing.

Digital revenues are generated from the expanded universe of digital partners, including digital streaming services and digital download services. These licenses typically contain a single performance obligation, which is ongoing access to all intellectual property in an evolving content library, predicated on: (1)the business practice and contractual ability to remove specific content without a requirement to replace the content and without impact to minimum royalty guarantees and (2)the contracts not containing a specific listing of content subject to the license. Digital licensing contracts are generally long-term with consideration in the form of sales- and usage-based royalties that are typically received monthly. Certain contracts contain non-recoupable fixed fees or minimum guarantees, which are recoupable against royalties. Upon contract inception, the Company will assess whether a shortfall or breakage is expected (i.e., where the minimum guarantee will not be recouped through royalties) in order to determine timing of revenue recognition for the fixed fee or minimum guarantee.

For fixed fee and minimum guarantee contracts where breakage is expected, the total transaction price (fixed fee or minimum guarantee) is typically recognized on a straight-line basis over the contractual term. The Company updates its assessment of the transaction price each reporting period to see if anticipated royalty earnings exceed the minimum guarantee. For contracts where breakage is not expected, royalties are recognized as revenue as sales or usage occurs based upon the licensee’s usage reports and, when these reports are not available, historical data, industry information and other relevant trends.

Additionally, for certain licenses where the consideration is fixed and the intellectual property being licensed is static, revenue is recognized at the point in time when control of the licensed content is transferred to the customer.

Physical revenues are generated from the sale of physical products such as CDs, vinyl and DVDs. Revenues from the sale of physical Recorded Music products are recognized upon transfer of control to the customer, which typically occurs once the product has been shipped and the ability to direct use and obtain substantially all of the benefit from the asset have been transferred. In accordance with industry practice and as is customary in many territories, certain products, such as CDs and DVDs, are sold to customers with the right to return unsold items. Revenues from such sales are generally recognized upon shipment based on gross sales less a provision for future estimated returns.

Artist services and expanded-rights revenues are generated from artist services businesses and participations in expanded-rights associated with artists, including sponsorship, fan clubs, artist websites, merchandising, touring, concert promotion, ticketing, and artist and brand management. Artist services and expanded-rights contracts are generally short term. Revenue is recognized as or when services are provided (e.g., at time of an artist’s event) assuming collectability is probable. In some cases, the Company is reliant on the artist to report revenue generating activities. For certain artist services and expanded-rights contracts, collectability is not considered probable until notification is received from the artist’s management.

Licensing revenues represent royalties or fees for the right to use sound recordings in combination with visual images such as in films or television programs, television commercials and videogames. In certain territories, the Company may also receive royalties when sound recordings are performed publicly through broadcast of music on television, radio and cable, and in public spaces such as shops, workplaces, restaurants, bars and clubs. Licensing contracts are generally short term. For fixed fee contracts, revenue is recognized at the point in time when control of the licensed content is transferred to the customer. Royalty based contracts are recognized as the underlying sales or usage occurs.

Music Publishing

Music Publishing acts as a copyright owner and/or administrator of the musical compositions and generates revenues related to the exploitation of musical compositions (as opposed to recorded music). Music publishers generally receive royalties from the use of the composition in public performances, digital and physical recordings and in combination with visual images. Music publishing revenues are derived from five main sources: mechanical, performance, synchronization, digital and other.

Performance revenues are received when the composition is performed publicly through broadcast of music on television, radio and cable, live performance at a concert or other venue (e.g., arena concerts and nightclubs), and performance of music in staged theatrical productions. Digital revenues are generated with respect to the compositions being embodied in recordings sold in digital streaming services, digital download services and digital performance. Mechanical revenues are generated with respect to the compositions embodied in recordings sold in any physical format or configuration such as CDs, vinyl and DVDs. Synchronization revenues represent the right to use the composition in combination with visual images such as in films or television programs, television commercials and videogames as well as from other uses such as in toys or novelty items and merchandise. Other revenues represent earnings for use in printed sheet music and other uses. Digital and synchronization revenue recognition is similar for both Recorded Music and Music Publishing, therefore refer to the discussion within Recorded Music.

Included in these revenue streams, excluding synchronization and other, are licenses with music societies (e.g., ASCAP, BMI, SESAC, GEMA), which are long term contracts containing a single performance obligation, which is ongoing access to all intellectual property in an evolving content library. The most common form of consideration for these contracts is sales and usage-based royalties. The music societies submit usage reports, typically with payment for royalties due, often on a quarterly or bi-annual reporting period, in arears. Royalties are recognized as the sale or usage occurs based upon usage reports and, when these reports are not available, royalties are estimated based on historical data, such as recent royalties reported, Company specific information with respect to changes in repertoire, industry information and other relevant trends. Also included in these revenue streams are smaller, short term contracts for specified content, which generally involve a fixed fee. For fixed fee contracts, revenue is recognized at the point in time when control of the license is transferred to the customer.

The Company excludes from the measurement of transaction price all taxes assessed by governmental authorities that are both (i) imposed on and concurrent with a specific revenue-producing transaction and (ii) collected from customers.

Sales Returns and Uncollectible Accounts

In accordance with practice in the recorded music industry and as customary in many territories, certain physical revenue products (such as CDs and DVDs) are sold to customers with the right to return unsold items. Revenues from such sales are recognized when the products are shipped based on gross sales less a provision for future estimated returns.

In determining the estimate of physical product sales that will be returned, management analyzes vendor sales of product, historical return trends, current economic conditions, changes in customer demand and commercial acceptance of the company's products. Based on this information, management reserves a percentage of each dollar of physical product sales that provide the customer with the right of return and records an asset for the value of the returned goods and liability for the amounts expected to be refunded.

Similarly, management evaluates accounts receivables to determine if they will ultimately be collected. In performing this evaluation, significant judgments and estimates are involved, including an analysis of specific risks on a customer-by-customer basis for larger accounts and customers and a receivables aging analysis that determines the percent that has historically been uncollected by aged category. The time between the Company issuance of an invoice and payment due date is not significant; customer payments that are not collected in advance of the transfer of promised services or goods are generally due no later than 30 days from invoice date. Based on this information, management provides a reserve for the estimated amounts believed to be uncollectible.

Based on management’s analysis of sales returns, refund liabilities of $25 million were established at June 30, 2019 and refund liabilities of $28 million were established at September 30, 2018.

Based on management’s analysis of uncollectible accounts, reserves of $21 million and $17 million were established at June 30, 2019 and September 30, 2018, respectively.

Principal versus Agent Revenue Recognition

The Company reports revenue on a gross or net basis based on management’s assessment of whether the Company acts as a principal or agent in the transaction. The determination of whether the Company acts as a principal or an agent in a transaction is based on an evaluation of whether the Company controls the good or service before transfer to the customer. When the Company concludes that it controls the good or service before transfer to the customer, the Company is considered a principal in the transaction and records revenue on a gross basis. When the Company concludes that it does not control the good or service before transfer to the customer but arranges for another entity to provide the good or service, the Company acts as an agent and records revenue on a net basis in the amount it earns for its agency service.

In the normal course of business, the Company acts as an intermediary with respect to certain payments received from third parties. For example, the Company distributes music content on behalf of third-party record labels. Based on the above guidance, the Company records the distribution of content on behalf of third-party record labels on a gross basis, subject to the terms of the contract, as the Company controls the content before transfer to the customer. Conversely, recorded music compilations distributed by other record companies where the Company has a right to participate in the profits are recorded on a net basis.

Deferred Revenue

Deferred revenue principally relates to fixed fees and minimum guarantees received in advance of the Company’s performance or usage by the licensee. Reductions in deferred revenue are a result of the Company’s performance under the contract or usage by the licensee.

Deferred revenue increased $247 million during the nine months ended June 30, 2019 related to cash received from our customers for fixed fees and minimum guarantees in advance of performance, including amounts recognized in the period. Revenues of $142 million were recognized during the nine months ended June 30, 2019 related to the balance of deferred revenue at October 1, 2018. There were no other significant changes to deferred revenue during the reporting period.

Performance Obligations

The Company recognized revenue of $10 million and $45 million from performance obligations satisfied in previous periods for the three and nine month periods ended June 30, 2019, respectively.

Wholly and partially unsatisfied performance obligations represent future revenues not yet recorded under long term intellectual property licensing contracts. Revenues expected to be recognized in the future related to performance obligations that are unsatisfied at June 30, 2019 are as follows (in millions):



	Rest of FY19		FY20		FY21		Thereafter		Total
	(in millions)
Remaining performance obligations	$	51	$	138	$	94	$	7	$	290
Total	$	51	$	138	$	94	$	7	$	290

Acquisition of EMP

9 Months Ended

Jun. 30, 2019

Business Combinations [Abstract]

Acquisition of EMP

On October 10, 2018, Warner Music Group Germany Holding GmbH (“WMG Germany”), a limited liability company under the laws of Germany and an indirect subsidiary of Warner Music Group Corp., closed its previously announced acquisition (the “Acquisition”) of certain shares of E.M.P. Merchandising Handelsgesellschaft mbH, a limited liability company under the laws of Germany, all of the share capital of MIG Merchandising Investment GmbH, a limited liability company under the laws of Germany (“MIG”), certain shares of Large Popmarchandising BVBA, a limited liability company under the laws of Belgium (“Large”), and each of EMP Merchandising Handelsgesellschaft mbH and MIG’s direct and indirect subsidiaries (the “Subsidiaries” and, together with EMP Merchandising Handelsgesellschaft mbH, MIG and Large, “EMP”) from funds associated with Sycamore Partners, pursuant to the Sale and Purchase Agreement, dated as of September 11, 2018, by and between SP Merchandising Holding GmbH & Co. KG, a limited partnership under the laws of Germany, and WMG Germany (“Acquisition Agreement”). The cash consideration paid at closing of the Acquisition was approximately €166 million, which reflects an agreed enterprise value of EMP of approximately €155 million (equivalent to approximately $180 million), as adjusted for, among other items, net debt and estimates of working capital of EMP. The final purchase price paid was determined to be €165 million after finalization of purchase price adjustments, including working capital and other items.

The Acquisition was accounted for in accordance with ASC 805, using the acquisition method of accounting. The assets and liabilities of the Company, including identifiable intangible assets, have been measured at their fair value primarily using Level 3 inputs (see Note 13 for additional information on fair value inputs). Determining the fair value of the assets acquired and liabilities assumed requires judgment and involved the use of significant estimates and assumptions, including assumptions with respect to future cash inflows and outflows, discount rates, asset useful lives and market multiples, among other items. The use of different estimates and judgments could yield materially different results.

The excess of the purchase price, over the fair value of net assets acquired, including the amount assigned to identifiable intangible assets and deferred tax adjustments, has been recorded to goodwill. The resulting goodwill has been allocated to our Recorded Music reportable segment. The recognized goodwill will not be deductible for income tax purposes. Any impairment charges made in future periods associated with goodwill will not be tax deductible.

The table below presents (i) the preliminary estimate of the Acquisition consideration as it relates to the acquisition of EMP by WMG Germany and (ii) the preliminary allocation of the purchase price to the estimated fair values of the assets acquired and liabilities assumed on the closing date of October 10, 2018 (in millions):



Purchase Price	€	155
Working Capital	10
Final Purchase Price	€	165
Foreign Currency Rate at October 10, 2018	1.15
Final Purchase Price in U.S. dollars	$	190
Fair value of assets acquired and liabilities assumed
Cash and equivalents	$	7
Accounts receivable, net	3
Inventories	37
Other current assets	5
Property plant and equipment	32
Intangible assets	81
Accounts payable	(18		)
Other current liabilities	(11		)
Deferred revenue	(7		)
Deferred tax liabilities	(25		)
Other noncurrent liabilities	(3		)
Fair value of assets acquired and liabilities assumed	101
Goodwill recorded	89
Total purchase price allocated	$	190

At June 30, 2019, the Company updated the preliminary allocation recorded at December 31, 2018 based on revised estimates of fair value, which resulted in an increase in property plant and equipment, intangibles, deferred tax liabilities and a decrease to goodwill and resulted in a $2 million benefit to amortization in the quarter due to the update in the useful lives of the intangibles. The acquisition accounting is subject to revision based on final determinations of fair value and allocations of purchase price to the identifiable assets and liabilities acquired, including the determination of the final working capital adjustment pursuant to the mechanism set forth in the Acquisition Agreement.

Pro Forma Financial Information

The following unaudited pro forma information has been presented as if the Acquisition occurred on October 1, 2017. This information is based on historical results of operations, adjusted to give effect to pro forma events that are (i) directly attributable to the Acquisition; (ii) factually supportable; and (iii) expected to have a continuing impact on the Company’s combined results. The pro forma information as presented below is for informational purposes only and is not indicative of the results of operations that would have been achieved if the Acquisition had taken place at the beginning of fiscal 2018.



	Three Months Ended June 30, 2019		Three Months Ended June 30, 2018		Nine Months Ended June 30, 2019		Nine Months Ended June 30, 2018
	(in millions)				(in millions)
Revenue	$	1,058	$	1,011	$	3,356	$	3,153
Operating income	58		29		327		201
Net income attributable to Warner Music Group	$	13	$	321	$	166	$	320

Actual results related to EMP included in the Consolidated Statements of Operations for the three months ended June 30, 2019 consist of revenues of $59 million and operating income of $4 million. Actual results related to EMP included in the Consolidated Statements of Operations for the nine months ended June 30, 2019 relate to the transition period from October 10, 2018 to June 30, 2019 and consist of revenues of $186 million and operating income of $8 million.

Comprehensive Income

9 Months Ended

Jun. 30, 2019

Equity [Abstract]

Comprehensive Income

Comprehensive income, which is reported in the accompanying consolidated statements of (deficit) equity, consists of net income and other gains and losses affecting equity that, under U.S. GAAP, are excluded from net income. For the Company, the components of other comprehensive income primarily consist of foreign currency translation gains and losses, minimum pension liabilities, and deferred gains and losses on financial instruments designated as hedges under ASC 815, which include foreign exchange contracts. The following summary sets forth the changes in the components of accumulated other comprehensive loss, net of related taxes of approximately $1 million:



	Foreign Currency Translation Loss (a)			Minimum Pension Liability Adjustment			Deferred Losses On Derivative Financial Instruments			Accumulated Other Comprehensive Loss, net
	(in millions)
Balance at September 30, 2018	$	(184	)	$	(9	)	$	3		$	(190	)
Other comprehensive loss	(17		)	—			(12		)	(29		)
Balance at June 30, 2019	$	(201	)	$	(9	)	$	(9	)	$	(219	)

__________________________

(a)Includes historical foreign currency translation related to certain intra-entity transactions.

Goodwill and Intangible Assets

9 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill

The following analysis details the changes in goodwill for each reportable segment:



	Recorded Music			Music Publishing		Total
	(in millions)
Balance at September 30, 2018	$	1,228		$	464	$	1,692
Acquisitions (a)	89			—		89
Divestitures	—			—		—
Other adjustments (b)	(9		)	—		(9		)
Balance at June 30, 2019	$	1,308		$	464	$	1,772

_______________________


(a)	Relates to the acquisition of EMP during the nine months ended June 30, 2019.


(b)	Other adjustments during the nine months ended June 30, 2019 represent foreign currency movements.

The Company performs its annual goodwill impairment test in accordance with ASC 350, Intangibles—Goodwill and other (“ASC 350”) during the fourth quarter of each fiscal year as of July 1. The Company may conduct an earlier review if events or circumstances occur that would suggest the carrying value of the Company’s goodwill may not be recoverable. No indicators of impairment were identified during the current period that required the Company to perform an interim assessment or recoverability test.

Intangible Assets

Intangible assets consist of the following:



	Weighted Average Useful Life	June 30, 2019			September 30, 2018
		(in millions)
Intangible assets subject to amortization:
Recorded music catalog	10 years	$	861		$	870
Music publishing copyrights	26 years	1,555			1,540
Artist and songwriter contracts	13 years	853			864
Trademarks	18 years	52			12
Other intangible assets	7 years	58			26
Total gross intangible asset subject to amortization		3,379			3,312
Accumulated amortization		(1,599		)	(1,461		)
Total net intangible assets subject to amortization		1,780			1,851
Intangible assets not subject to amortization:
Trademarks and tradenames	Indefinite	153			154
Total net intangible assets		$	1,933		$	2,005

As of June 30, 2019, the Company disposed of $7 million of gross intangible assets that were fully amortized.

Debt

9 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Debt

7. Debt

Debt Capitalization

Long-term debt, all of which was issued by Acquisition Corp., consists of the following:



	June 30, 2019		September 30, 2018
	(in millions)
Revolving Credit Facility (a)	$	—	$	—
Senior Term Loan Facility due 2023 (b)	1,313		1,310
5.625% Senior Secured Notes due 2022 (c)	—		246
5.000% Senior Secured Notes due 2023 (d)	298		297
4.125% Senior Secured Notes due 2024 (e)	349		399
4.875% Senior Secured Notes due 2024 (f)	218		247
3.625% Senior Secured Notes due 2026 (g)	507		—
5.500% Senior Notes due 2026 (h)	321		320
Total debt (i)	$	3,006	$	2,819

_______________________


(a)	Reflects $180 million of commitments under the Revolving Credit Facility available at both June 30, 2019 and September 30, 2018, less letters of credit outstanding of approximately $13 million at June 30, 2019 and $8 million at September 30, 2018. There were no loans outstanding under the Revolving Credit Facility at June 30, 2019 or September 30, 2018.


(b)	Principal amount of $1.326 billion less unamortized discount of $3 million and unamortized deferred financing costs of $10 million and $12 million at June 30, 2019 and September 30, 2018, respectively.


(c)	On May 16, 2019, Acquisition Corp. redeemed the remaining $221 million of its outstanding 5.625% Senior Notes due 2022. The Company recorded a loss on extinguishment of debt of approximately $4 million as a result of the debt redemption, which represents the premium paid on early redemption and unamortized deferred financing costs.


(d)	Principal amount of $300 million less unamortized deferred financing costs of $2 million at both June 30, 2019 and September 30, 2018.

(e)

Face amount of €311 million and €345 million at June 30, 2019 and September 30, 2018 respectively. Above amounts represent the dollar equivalent of such note at June 30, 2019 and September 30, 2018. Principal amount of $353 million and $402 million at June 30, 2019 and September 30, 2018, respectively, less unamortized deferred financing costs of $4 million and $3 million at June 30, 2019 and September 30, 2018, respectively.


(f)	Principal amount of $220 million and $250 million less unamortized deferred financing costs of $2 million and $3 million at June 30, 2019 and September 30, 2018, respectively.


(g)	Face amount of €445 million at June 30, 2019. Above amounts represent the dollar equivalent of such note at June 30, 2019. Principal amount of $506 million, an additional issuance premium of $8 million, less unamortized deferred financing costs of $7 million at June 30, 2019.


(h)	Principal amount of $325 million and $325 million less unamortized deferred financing costs of $4 million and $5 million at June 30, 2019 and September 30, 2018, respectively.


(i)	Principal amount of debt of $3.030 billion and $2.851 billion, an additional issuance premium of $8 million and nil, less unamortized discount of $3 million and $4 million and unamortized deferred financing costs of $29 million and $28 million at June 30, 2019 and September 30, 2018, respectively.

December 2017 Senior Term Loan Credit Agreement Amendment

On December 6, 2017, Acquisition Corp. entered into an amendment (the “December 2017 Senior Term Loan Credit Agreement Amendment”) to the Senior Term Loan Credit Agreement, dated November 1, 2012, among Acquisition Corp., the guarantors party thereto, the lenders party thereto and Credit Suisse AG, as administrative agent, governing Acquisition Corp.’s senior secured term loan facility with Credit Suisse AG, as administrative agent, and the other financial institutions and lenders from time to time party thereto, to, among other things, reduce the pricing terms of its outstanding term loans, change certain incurrence thresholds governing the ability to incur debt and liens, change certain EBITDA add-backs and increase the thresholds above which the excess cash flow sweep is triggered. The Company recorded a loss on extinguishment of debt of approximately $1 million, which represented the discount and unamortized deferred financing costs related to the prior tranche of debt of the lenders that was replaced.

New Revolving Credit Agreement

On January 31, 2018, the Company entered into a new revolving credit agreement (the “Revolving Credit Agreement”) for its Revolving Credit Facility and terminated its existing revolving credit agreement (the “Old Revolving Credit Agreement”). The Revolving Credit Agreement differs from the Old Revolving Credit Agreement in that it, among other things, reduces the interest rate margin applicable to the loans, extends the maturity date thereunder, provides for the option to increase the commitments under the Company’s then existing revolving credit agreement, provides for greater flexibility to amend and extend the Company’s then existing revolving credit agreement and create additional tranches thereunder, provides for greater flexibility over future amendments, increases the springing financial maintenance covenant to 4.75:1.00 and provides that the covenant shall not be tested unless at the end of a fiscal quarter the outstanding amount of loans and drawings under letters of credit which have not been reimbursed exceeds $54 million and aligns the other negative covenants with those of the Senior Term Loan Credit Agreement. References to “Revolving Credit Facility” below in this Note 7 are to our new revolving credit facility.

March 2018 Senior Term Loan Credit Agreement Amendment

On March 14, 2018, Acquisition Corp. incurred $320 million of supplemental term loans (the “Supplemental Term Loans”) pursuant to an increase supplement (the “March 2018 Senior Term Loan Credit Agreement Supplement”) to the Senior Term Loan Credit Agreement, dated November 1, 2012, among Acquisition Corp., the guarantors party thereto, the lenders party thereto and Credit Suisse AG, as administrative agent, governing Acquisition Corp.’s senior secured term loan facility with Credit Suisse AG, as administrative agent, and the other financial institutions and lenders from time to time party thereto (as amended, the “Senior Term Loan Credit Agreement”). The principal amount outstanding under the Senior Term Loan Credit Agreement including the Supplemental Term Loans is $1.326 billion.

Notes Offering

On March 14, 2018, Acquisition Corp. issued $325 million in aggregate principal amount of its 5.500% Senior Notes due 2026. Acquisition Corp. used the net proceeds to pay the consideration in the tender offer for its 6.750% Senior Notes due 2022 (the “6.750% Senior Notes”) and to redeem the remaining 6.750% Senior Notes as described below.

Tender Offer and Notes Redemption

On March 14, 2018, Acquisition Corp. accepted for purchase in connection with the tender offer for the 6.750% Senior Notes that had been validly tendered and not validly withdrawn at or prior to 5:00 p.m., New York City time on March 13, 2018 (the “Expiration Time”) thereby reducing the aggregate principal amount of the 6.750% Senior Notes by $523 million. Acquisition Corp. then issued a notice of redemption on March 14, 2018 with respect to the remaining $112 million of 6.750% Senior Notes outstanding that were not accepted for payment pursuant to the tender offer. Following payment of the 6.750% Senior Notes tendered at or prior to the Expiration Time, Acquisition Corp. deposited with the Trustee funds of $119 million to satisfy all obligations under the applicable indenture governing the 6.750% Senior Notes, including call premiums and interest through the date of redemption on April 15, 2018, for the remaining 6.750% Senior Notes not accepted for purchase in the tender offer. On April 15, 2018, Acquisition Corp. redeemed the remaining outstanding 6.750% Senior Notes. The Company recorded a loss on extinguishment of debt in connection with the tender offer of approximately $23 million as a result of the partial debt redemption, which represents the premium paid on early redemption and unamortized deferred financing costs in March 2018. The Company incurred an additional loss on extinguishment of approximately $5 million in April 2018 related to the redemption on the remaining 6.750% Senior Notes, which represents the premium paid on early redemption and unamortized deferred financing costs.

June 2018 Senior Term Loan Credit Agreement Amendment

On June 7, 2018, Acquisition Corp. entered into an amendment (the “June 2018 Senior Term Loan Credit Agreement Amendment”) to the Senior Term Loan Credit Agreement, dated November 1, 2012, among Acquisition Corp., the guarantors party thereto, the lenders party thereto and Credit Suisse AG, as administrative agent, governing Acquisition Corp.’s senior secured term loan facility with Credit Suisse AG, as administrative agent, and the other financial institutions and lenders from time to time party thereto, to, among other things, reduce the pricing terms of its outstanding term loans, change certain incurrence thresholds governing the ability to incur debt and liens and exclude from the definition of “Senior Secured Indebtedness” certain liens that have junior lien priority on the collateral in relation to the outstanding term loans and the relevant guarantees, as applicable. The Company recorded a loss on extinguishment of debt of approximately $2 million, which represented the discount and unamortized deferred financing costs related to the prior tranche of debt of the lenders that was replaced.

3.625% Senior Secured Notes Offerings

On October 9, 2018, Acquisition Corp. issued and sold €250 million in aggregate principal amount of 3.625% Senior Secured Notes due 2026 (the “3.625% Secured Notes”). Net proceeds of the offering were used to pay the purchase price of the acquisition of EMP, to redeem €34.5 million of the 4.125% Secured Notes (as described below), purchase $30 million of the Company’s 4.875% Senior Secured Notes (as described above) on the open market, and to redeem $26.55 million of the 5.625% Senior Secured Notes (as described below).

On April 30, 2019, Acquisition Corp. issued and sold €195 million in aggregate principal amount of additional 3.625% Senior Secured Notes due 2026 (the "Additional Notes"). The Additional Notes and the 3.625% Secured Notes were treated as the same series for all purposes under the indenture that governs the 3.625% Secured Notes and the Additional Notes. Net proceeds of the offering were used to redeem all of the 5.625% Secured Notes due 2022.

Partial Redemption of 4.125% Senior Secured Notes

On October 12, 2018, Acquisition Corp. redeemed €34.5 million aggregate principal amount of its 4.125% Senior Secured Notes due 2024 (the “4.125% Secured Notes”) using a portion of the proceeds from the offering of the 3.625% Secured Notes described above. The redemption price for the 4.125% Secured Notes was approximately €36.17 million, equivalent to 103% of the principal amount of the 4.125% Secured Notes, plus accrued but unpaid interest thereon to, but excluding, the redemption date, which was October 12, 2018. Following the partial redemption of the 4.125% Secured Notes, €310.5 million of the 4.125% Secured Notes remain outstanding. The Company recorded a loss on extinguishment of debt of approximately $2 million, which represents the premium paid on early redemption and unamortized deferred financing costs related to the partial redemption of this note.

Open Market Purchase

On October 9, 2018, Acquisition Corp. purchased, in the open market, $30 million aggregate principal amount of its outstanding 4.875% Senior Secured Notes due 2024 (the “4.875% Secured Notes”). The acquired notes were subsequently retired. Following retirement of the acquired notes, $220 million of the 4.875% Secured Notes remain outstanding. The Company recorded a loss on extinguishment of debt of less than $1 million, which represents the unamortized deferred financing costs related to the open market purchase.

Redemption of 5.625% Senior Secured Notes

On November 5, 2018, Acquisition Corp. redeemed $26.55 million aggregate principal amount of its 5.625% Senior Secured Notes due 2022 (the “5.625% Secured Notes”). The redemption price for the 5.625% Secured Notes was approximately $27.38 million, equivalent to 102.813% of the principal amount of the 5.625% Secured Notes, plus accrued but unpaid interest thereon to, but excluding, the redemption date, which was November 5, 2018. Following the partial redemption of the 5.625% Secured Notes, $220.95 million of the 5.625% Secured Notes remain outstanding. The Company recorded a loss on extinguishment of debt of approximately $1 million, which represents the premium paid on early redemption and unamortized deferred financing costs related to the partial redemption of this note.

On April 16, 2019, the Company issued a conditional notice of redemption for all of its 5.625% Secured Notes due 2022 currently outstanding. Settlement of the called 5.625% Secured Notes occurred on May 16, 2019. The Company recorded a loss on extinguishment of debt of approximately $4 million, which represents the premium paid on early redemption and unamortized deferred financing costs.

Interest Rates

The loans under the Revolving Credit Facility bear interest at Acquisition Corp.’s election at a rate equal to (i) the rate for deposits in the borrowing currency in the London interbank market (adjusted for maximum reserves) for the applicable interest period (“Revolving LIBOR”) subject to a zero floor, plus 1.75% per annum, or (ii) the base rate, which is the highest of (x) the corporate base rate established by the administrative agent from time to time, (y) 0.50% in excess of the overnight federal funds rate and (z) the one-month Revolving LIBOR plus 1.0% per annum, plus, in each case, 0.75% per annum. If there is a payment default at any time, then the interest rate applicable to overdue principal will be the rate otherwise applicable to such loan plus 2.0% per annum. Default interest will also be payable on other overdue amounts at a rate of 2.0% per annum above the amount that would apply to an alternative base rate loan.

The loans under the Senior Term Loan Facility bear interest at Acquisition Corp.’s election at a rate equal to (i) the rate for deposits in U.S. dollars in the London interbank market (adjusted for maximum reserves) for the applicable interest period (“Term Loan LIBOR”) subject to a zero floor, plus 2.125% per annum, or (ii) the base rate, which is the highest of (x) the corporate base rate established by the administrative agent as its prime rate in effect at its principal office in New York City from time to time, (y) 0.50% in excess of the overnight federal funds rate and (z) one-month Term Loan LIBOR, plus 1.00% per annum, plus, in each case, 1.125% per annum. If there is a payment default at any time, then the interest rate applicable to overdue principal and interest will be the rate otherwise applicable to such loan plus 2.0% per annum. Default interest will also be payable on other overdue amounts at a rate of 2.0% per annum above the amount that would apply to an alternative base rate loan.

The Company has entered into, and in the future may enter into, interest rate swaps to manage interest rate risk.

Maturity of Senior Term Loan Facility

The loans outstanding under the Senior Term Loan Facility mature on November 1, 2023.

Maturity of Revolving Credit Facility

The maturity date of the Revolving Credit Facility is January 31, 2023.

Maturities of Senior Notes and Senior Secured Notes

As of June 30, 2019, there are no scheduled maturities of notes until 2023, when $300 million is scheduled to mature. Thereafter, $1.404 billion is scheduled to mature.

Interest Expense, net

Total interest expense, net, was $36 million and $33 million for the three months ended June 30, 2019 and June 30, 2018, respectively. Total interest expense, net, was $108 million and $105 million for the nine months ended June 30, 2019 and June 30, 2018, respectively. The weighted-average interest rate of the Company’s total debt was 4.5% at June 30, 2019 and 4.7% at September 30, 2018 and June 30, 2018.

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Sirius XM On September 11, 2013, the Company joined with Capitol Records, LLC, Sony Music Entertainment, UMG Recordings, Inc. and ABKCO Music & Records, Inc. in a lawsuit brought in California Superior Court against Sirius XM Radio Inc., alleging copyright infringement for Sirius XM’s use of pre-1972 sound recordings under California law. A nation-wide settlement was reached on June 17, 2015 pursuant to which Sirius XM paid the plaintiffs, in the aggregate, $210 million on July 29, 2015 and the plaintiffs dismissed their lawsuit with prejudice. The settlement resolved all past claims as to Sirius XM’s use of pre-1972 recordings owned or controlled by the plaintiffs and enabled Sirius XM, without any additional payment, to reproduce, perform and broadcast such recordings in the United States through December 31, 2017. The allocation of the settlement proceeds among the plaintiffs was determined and the settlement proceeds were distributed accordingly. This resulted in a cash distribution to the Company of $33 million of which $28 million was recognized in revenue during the 2016 fiscal year and $4 million was recognized in revenue during the 2017 fiscal year. The balance of $1 million was recognized in the first quarter of the 2018 fiscal year. The Company is sharing its allocation of the settlement proceeds with its artists on the same basis as statutory revenue from Sirius XM is shared, i.e., the artist share of our allocation will be paid to artists by SoundExchange. As part of the settlement, plaintiffs agreed to negotiate in good faith to grant Sirius XM a license to publicly perform the plaintiffs’ pre-1972 sound recordings for the five-year period running from January 1, 2018 to December 31, 2022. Pursuant to the settlement, if the parties were unable to reach an agreement on license terms, the royalty rate for each license would be determined by binding arbitration on a willing buyer/willing seller standard. On December 21, 2017, Sirius XM commenced a single arbitration against all of the plaintiffs in California through JAMS to determine the rate for the five-year period. On May 1, 2018, the Company filed a lawsuit against Sirius XM in New York state court to stay the California arbitration and to compel a separate arbitration in New York solely between Sirius XM and the Company. On August 23, 2018, the Company filed a Stipulation of Discontinuance without Prejudice as to the New York state court action after Sirius XM agreed to participate in a separate arbitration with the Company in New York if the parties were unable to reach an agreement on pre-1972 license terms. On March 28, 2019, the Company and Sirius XM entered into an agreement granting Sirius XM a license to publicly perform the Company’s pre-1972 sound recordings for the five-year period running from January 1, 2018 to December 31, 2022. Other Matters In addition to the matters discussed above, the Company is involved in various litigation and regulatory proceedings arising in the normal course of business. Where it is determined, in consultation with counsel based on litigation and settlement risks, that a loss is probable and estimable in a given matter, the Company establishes an accrual. In the currently pending proceedings, the amount of accrual is not material. An estimate of the reasonably possible loss or range of loss in excess of the amounts already accrued cannot be made at this time due to various factors typical in contested proceedings, including (1) the results of ongoing discovery; (2) uncertain damage theories and demands; (3) a less than complete factual record; (4) uncertainty concerning legal theories and their resolution by courts or regulators; and (5) the unpredictable nature of the opposing party and its demands. However, the Company cannot predict with certainty the outcome of any litigation or the potential for future litigation. As such, the Company continuously monitors these proceedings as they develop and adjusts any accrual or disclosure as needed. Regardless of the outcome, litigation could have an adverse impact on the Company, including the Company’s brand value, because of defense costs, diversion of management resources and other factors and it could have a material effect on the Company’s results of operations for a given reporting period.

Income Taxes	9 Months Ended
Income Taxes	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (“Tax Act”). The Tax Act contains significant revisions to U.S. federal corporate income tax provisions, including, but not limited to, a reduction of the U.S. federal corporate statutory tax rate from 35% to 21%, a one-time transition tax on accumulated foreign earnings, an income inclusion of global intangible low-taxed income (“GILTI”), a deduction against foreign-derived intangible income (“FDII”) and a new minimum tax, the base erosion anti-abuse tax (“BEAT”). In accordance with ASC 740, the Company recorded the effects of the Tax Act during the three months ended December 31, 2017. The reduction in U.S. federal corporate statutory tax rate from 35% to 21% was effective January 1, 2018. The Tax Act requires companies with a fiscal year that begins before and ends after the effective date of the rate change to calculate a blended tax rate based on the pro rata number of days in the fiscal year before and after the effective date. As a result, for the fiscal year ending September 30, 2018, the Company’s U.S. federal statutory income tax rate was 24.5%. For the fiscal year ending September 30, 2019, the Company will be subject to the U.S. federal corporate statutory tax rate of 21%. The reduction in the U.S. federal corporate statutory tax rate required the Company to adjust its U.S. deferred tax assets and liabilities using the newly enacted tax rate of 21%. As a result, the Company recorded a U.S. income tax expense of $23 million for the reduction of its net U.S. deferred tax assets for the year ended September 30, 2018. The Company has not recorded any income tax liability related to the one-time transition tax on accumulated foreign earnings (“Transition Tax”) due to an overall deficit in accumulated foreign earnings. GILTI, FDII and BEAT are effective for the Company’s fiscal year ending September 30, 2019. The Company expects that the impact of GILTI offset by FDII will increase its U.S. federal tax in fiscal 2019 due primarily to the negative impact of U.S. net operating loss carryforward utilization on the allowable GILTI and FDII deductions. The Company has elected to recognize the GILTI impact in the specific period in which it occurs. For the three and nine months ended June 30, 2019, the Company recorded an income tax benefit of $12 million and expense of $86 million, respectively. The income tax benefit for the three months ended June 30, 2019 is lower than the expected tax at the statutory tax rate of 21% primarily due to a change in components of forecasted income that resulted in a decrease of the GILTI impact and higher foreign tax credit utilization. The income tax expense for the nine months ended June 30, 2019 is higher than the expected tax at the statutory tax rate of 21% primarily due to GILTI, non-deductible long term incentive plan, U.S. state and local taxes, foreign income taxed at rates higher than the U.S. statutory tax rate, income withholding taxes, foreign losses with no tax benefit offset by the tax benefit of a reduction in foreign income tax rates. For the three and nine months ended June 30, 2018, the Company recorded an income tax expense of $61 million and $132 million, respectively. The income tax expense for the three months ended June 30, 2018 is lower than the expected tax at the blended statutory tax rate of 24.5% primarily due to recognition of a deferred tax asset related to a prior year intergroup transfer, $9 million change in provisional amount for the U.S. income tax reform and a release of uncertain tax positions partially offset by state tax expense. The income tax expense for the nine months ended June 30, 2018 is greater than the expected income tax expense at the blended statutory tax rate of 24.5% primarily due to a U.S. income tax expense of $17 million arising from a reduction in net U.S. deferred tax assets due to the change in the U.S. statutory tax rate, state tax expense, foreign income taxed at rates higher than the U.S. statutory tax rate, income withholding taxes, foreign losses with no tax benefit reduced by recognition of the deferred tax asset related to a prior year intergroup transfer and a release in uncertain tax positions. The Company has determined that it is reasonably possible that the gross unrecognized tax benefits as of June 30, 2019 could decrease by up to approximately $2 million related to various ongoing audits and settlement discussions in various foreign jurisdictions during the next twelve months.

Derivative Financial Instruments

9 Months Ended

Jun. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

The Company uses derivative financial instruments, primarily foreign currency forward exchange contracts and interest rate swaps, for the purposes of managing foreign currency exchange rate risk and interest rate risk on expected future cash flows. However, the Company may choose not to hedge certain exposures for a variety of reasons including, but not limited to, accounting considerations and the prohibitive economic cost of hedging particular exposures. There can be no assurance the hedges will offset more than a portion of the financial impact resulting from movements in foreign currency exchange or interest rates.

The Company enters into foreign currency forward exchange contracts primarily to hedge the risk that unremitted or future royalties and license fees owed to its domestic companies for the sale, or anticipated sale, of U.S.-copyrighted products abroad may be adversely affected by changes in foreign currency exchange rates. The Company focuses on managing the level of exposure to the risk of foreign currency exchange rate fluctuations on its major currencies, which include the Euro, British pound sterling, Japanese yen, Canadian dollar, Swedish krona, Australian dollar, Brazilian real, Korean wan and Norwegian krone. The foreign currency forward exchange contracts related to royalties are designated and qualify as cash flow hedges under the criteria prescribed in ASC 815, Derivatives and Hedging. The Company records these contracts at fair value on its balance sheet and gains or losses on these contracts are deferred in equity (as a component of comprehensive loss). These deferred gains and losses are recognized in income in the period in which the related royalties and license fees being hedged are received and recognized in income. However, to the extent that any of these contracts are not considered to be perfectly effective in offsetting the change in the value of the royalties and license fees being hedged, any changes in fair value relating to the ineffective portion of these contracts are immediately recognized in the statement of operations.

The Company may at times choose to hedge foreign currency risk associated with financing transactions such as third-party debt and other balance sheet items. The foreign currency forward exchange contracts related to balance sheet items denominated in foreign currency are reviewed on a contract-by-contract basis and are designated accordingly. If these foreign currency forward exchange contracts do not qualify for hedge accounting, then the Company records these contracts at fair value on its balance sheet and the related gains and losses are immediately recognized in the statement of operations where there is an equal and offsetting entry related to the underlying exposure.

The Company has entered into, and in the future may enter into, interest rate swaps to manage interest rate risk. These instruments may offset a portion of changes in income or expense, or changes in fair value of the Company’s long-term debt. The interest rate swap instruments are designated and qualify as cash flow hedges under the criteria prescribed in ASC 815, Derivatives and Hedging. The Company records these contracts at fair value on its balance sheet and gains or losses on these contracts are deferred in equity (as a component of comprehensive loss).

The fair value of foreign currency forward exchange contracts is determined by using observable market transactions of spot and forward rates (i.e., Level 2 inputs) which is discussed further in Note 13. Additionally, netting provisions are provided for in existing International Swap and Derivative Association Inc. agreements in situations where the Company executes multiple contracts with the same counterparty. As a result, net assets or liabilities resulting from foreign exchange derivatives subject to these netting agreements are classified within other current assets or other current liabilities in the Company’s consolidated balance sheets.

The Company’s hedged interest rate transactions as of June 30, 2019 are expected to be recognized within 4 years. The fair value of interest rate swaps is based on dealer quotes of market rates (i.e., Level 2 inputs) which is discussed further in Note 13. Interest income or expense related to interest rate swaps is recognized in interest income, net in the same period as the related expense is recognized. The ineffective portions of interest rate swaps are recognized in other income/(expense), net in the period measured.

The Company monitors its positions with, and the credit quality of, the financial institutions that are party to any of its financial transactions.

As of June 30, 2019, the Company had outstanding hedge contracts for the sale of $153 million and the purchase of $93 million of foreign currencies at fixed rates that will be settled by September 2019. As of June 30, 2019, the Company had $1 million of unrealized deferred losses in comprehensive income related to foreign exchange hedging. As of September 30, 2018, the Company had no outstanding hedge contracts and no deferred gains or losses in comprehensive loss related to foreign exchange hedging.

As of June 30, 2019 and September 30, 2018, the Company had outstanding $320 million in pay-fixed receive-variable interest rate swaps with unrealized deferred losses in comprehensive income related to the interest rate swap of $8 million and unrealized deferred gains in comprehensive income related to the interest rate swap of $3 million, respectively.

The unrealized pre-tax losses of the Company’s foreign exchange forward exchange contracts designated as cash flow hedges recorded in other comprehensive income during the nine months ended June 30, 2019 was $1 million. The unrealized pre-tax loss of the Company’s foreign exchange forward contracts designated as cash flow hedges recorded in other comprehensive income during the nine months ended June 30, 2018 was $1 million.

The unrealized pre-tax losses of the Company’s derivative interest rate swaps designated as cash flow hedges recorded in other comprehensive income during the nine months ended June 30, 2019 was $15 million. The pre-tax gains of the Company’s derivative interest rate swaps designated as cash flow hedges recorded in other comprehensive income and the Consolidated Statement of Comprehensive Income during the nine months ended June 30, 2018 was $2 million.

The following is a summary of amounts recorded in the Consolidated Balance Sheets pertaining to the Company’s designated cash flows hedges at June 30, 2019 and September 30, 2018:



	June 30, 2019 (a)		September 30, 2018 (b)
	(in millions)
Other current assets	$	1	$	—
Other current liabilities	—		—
Other noncurrent assets	—		4
Other noncurrent liabilities	11		—

_______________________


(a)	$4 million and $3 million of foreign exchange derivative contracts in asset and liability positions, respectively, and $11 million of interest rate swap in a liability position including non-designated cash flow hedges.


(b)	$4 million of interest rate swap in an asset position.

Segment Information

9 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Segment Information

As discussed more fully in Note 1, based on the nature of its products and services, the Company classifies its business interests into two fundamental operations: Recorded Music and Music Publishing, which also represent the reportable segments of the Company. Information as to each of these operations is set forth below. The Company evaluates performance based on several factors, of which the primary financial measure is operating income (loss) before non-cash depreciation of tangible assets and non-cash amortization of intangible assets (“OIBDA”). The Company has supplemented its analysis of OIBDA results by segment with an analysis of operating income (loss) by segment.

The accounting policies of the Company’s business segments are the same as those described in the summary of significant accounting policies included elsewhere herein. The Company accounts for intersegment sales at fair value as if the sales were to third parties. While intercompany transactions are treated like third-party transactions to determine segment performance, the revenues (and corresponding expenses recognized by the segment that is counterparty to the transaction) are eliminated in consolidation, and therefore, do not themselves impact consolidated results.



	Recorded Music		Music Publishing		Corporate expenses and eliminations			Total
Three Months Ended	(in millions)
June 30, 2019
Revenue	$	913	$	147	$	(2	)	$	1,058
Operating income (loss)	85		18		(45		)	58
Amortization of intangible assets	34		17		—			51
Depreciation of property, plant and equipment	12		1		2			15
OIBDA	131		36		(43		)	124
June 30, 2018
Revenue	$	802	$	159	$	(3	)	$	958
Operating income (loss)	67		5		(44		)	28
Amortization of intangible assets	39		17		—			56
Depreciation of property, plant and equipment	9		2		4			15
OIBDA	115		24		(40		)	99



	Recorded Music		Music Publishing		Corporate expenses and eliminations			Total
Nine Months Ended	(in millions)
June 30, 2019
Revenue	$	2,887	$	470	$	(6	)	$	3,351
Operating income (loss)	382		67		(122		)	327
Amortization of intangible assets	109		51		—			160
Depreciation of property, plant and equipment	31		4		8			43
OIBDA	522		122		(114		)	530
June 30, 2018
Revenue	$	2,497	$	476	$	(7	)	$	2,966
Operating income (loss)	276		45		(120		)	201
Amortization of intangible assets	113		51		—			164
Depreciation of property, plant and equipment	26		5		10			41
OIBDA	415		101		(110		)	406

Additional Financial Information	9 Months Ended
Additional Financial Information	Jun. 30, 2019
Additional Financial Information [Abstract]
Additional Financial Information	Additional Financial Information Cash Interest and Taxes The Company made interest payments of approximately $50 million and $41 million during the three months ended June 30, 2019 and June 30, 2018, respectively. The Company made interest payments of approximately $120 million and $126 million during the nine months ended June 30, 2019 and June 30, 2018, respectively. The Company paid approximately $22 million of income and withholding taxes during the three months ended June 30, 2019 and paid approximately $15 million of income and withholding taxes during the three months ended June 30, 2018. The Company paid approximately $40 million of income and withholding taxes during the nine months ended June 30, 2019 and paid approximately $33 million of income and withholding taxes during the nine months ended June 30, 2018. Special Cash Dividends On January 8, 2018, the Company’s Board of Directors approved a special cash dividend of $125 million, which was paid on January 12, 2018 to stockholders of record as of January 11, 2018. On May 7, 2018, the Company’s Board of Directors approved a special cash dividend of $300 million, which was paid on May 11, 2018 to stockholders of record as of May 7, 2018. On August 7, 2018, the Company’s Board of Directors approved a special cash dividend of $500 million, which was paid on August 10, 2018 to stockholders of record as of August 7, 2018. Dividend Policy The Company’s ability to pay dividends is restricted by covenants in the indentures governing our notes and in the credit agreements for our Senior Term Loan Facility and the Revolving Credit Facility. In the first quarter of 2019, the Company instituted a regular quarterly dividend policy whereby it intends to pay a modest regular quarterly dividend in each fiscal quarter and a variable dividend for the fourth fiscal quarter in an amount commensurate with cash expected to be generated from operations in such fiscal year, in each case, after taking into account other potential uses for cash, including acquisitions, investment in our business and repayment of indebtedness. On December 20, 2018 the Company’s Board of Directors approved the first dividend of $31.25 million which was paid on January 4, 2019. On March 26, 2019, the Company’s Board of Directors approved a dividend of $31.25 million which was paid on April 5, 2019. On June 28, 2019, the Company’s Board of Directors approved a dividend of $31.25 million paid on July 5, 2019 and recorded as an accrual on June 30, 2019. The declaration of each dividend will continue to be at the discretion of the Company’s Board of Directors. Spotify Share Sale During the three months ended June 30, 2018, the Company sold all of its shares of common stock in Spotify Technology S.A. (“Spotify”) for cash proceeds of $504 million. In February 2016, the Company publicly announced that it would pay royalties in connection with these proceeds. The sale of shares resulted in an estimated pre-tax gain, net of the estimated royalty expense and other related costs, of $378 million, which has been recorded as other income (expense) in the quarter. As of June 30, 2018, the estimated royalty expense and other related costs had been accrued, and were subsequently paid. The processing of the royalty expense resulted in advance recoveries of previously expensed royalty advances. The Company estimated the advance recoveries to be approximately $16 million, and recorded these advance recoveries as a credit within operating expense in the three and nine months ended June 30, 2018. The Company also recorded estimated tax expense of $77 million associated with the net income on the sale of shares in the quarter.

Fair Value Measurements

9 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Fair Value Measurements

ASC 820, Fair Value Measurement (“ASC 820”), defines fair value as the price that would be received upon sale of an asset or paid upon transfer of a liability in an orderly transaction between market participants at the measurement date and in the principal or most advantageous market for that asset or liability. The fair value should be calculated based on assumptions that market participants would use in pricing the asset or liability, not on assumptions specific to the entity.

In addition to defining fair value, ASC 820 expands the disclosure requirements around fair value and establishes a fair value hierarchy for valuation inputs. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market. Each fair value measurement is reported in one of the three levels which is determined by the lowest level input that is significant to the fair value measurement in its entirety. These levels are:


•	Level 1—inputs are based upon unadjusted quoted prices for identical instruments traded in active markets.


•	Level 2—inputs are based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market or can be corroborated by observable market data for substantially the full term of the assets or liabilities.


•	Level 3—inputs are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques that include option pricing models, discounted cash flow models and similar techniques.

In accordance with the fair value hierarchy, described above, the following table shows the fair value of the Company’s financial instruments that are required to be measured at fair value as of June 30, 2019 and September 30, 2018.



	Fair Value Measurements as of June 30, 2019
	(Level 1)		(Level 2)			(Level 3)			Total
	(in millions)
Other Current Assets:
Foreign Currency Forward Exchange Contracts (a)	$	—	$	1		$	—		$	1
Other Current Liabilities:
Contractual Obligations (b)	—		—			(3		)	(3		)
Other Noncurrent Assets:
Equity Method Investment (d)	—		45			—			45
Other Noncurrent Liabilities:
Contractual Obligations (b)	—		—			(6		)	(6		)
Interest Rate Swap (c)	—		(11		)	—			(11		)
Total	$	—	$	35		$	(9	)	$	26



	Fair Value Measurements as of September 30, 2018
	(Level 1)		(Level 2)		(Level 3)			Total
	(in millions)
Other Current Liabilities:
Contractual Obligations (b)	$	—	$	—	$	(2	)	$	(2	)
Other Noncurrent Assets:
Interest Rate Swap (c)	—		4		—			4
Other Noncurrent Liabilities:
Contractual Obligations (b)	—		—		(6		)	(6		)
Total	$	—	$	4	$	(8	)	$	(4	)

_______________________


(a)	The fair value of foreign currency forward exchange contracts is based on dealer quotes of market forward rates and reflects the amount that the Company would receive or pay at their maturity dates for contracts involving the same currencies and maturity dates.

(b)

This represents purchase obligations and contingent consideration related to the Company’s various acquisitions. This is based on a probability weighted performance approach and it is adjusted to fair value on a recurring basis and any adjustments are included as a component of operating income in the statement of operations. These amounts were mainly calculated using unobservable inputs such as future earnings performance of the Company’s various acquisitions and the expected timing of the payment.


(c)	The fair value of the interest rate swap is based on dealer quotes of market forward rates and reflects the amount that the Company would receive or pay as of June 30, 2019 for contracts involving the same attributes and maturity dates.


(d)	The fair value of equity method investment represents an equity method investment acquired during the nine months June 30, 2019 whereby the Company has elected the fair value option under ASC 825 – Financial Instruments. The valuation is based upon quoted prices in active markets and model-based valuation techniques to determine fair value.

The following table reconciles the beginning and ending balances of net assets and liabilities classified as Level 3:



	Total
	(in millions)
Balance at September 30, 2018	$	(8	)
Additions	(2		)
Reductions	—
Payments	1
Balance at June 30, 2019	$	(9	)

The majority of the Company’s non-financial instruments, which include goodwill, intangible assets, inventories, and property, plant, and equipment, are not required to be re-measured to fair value on a recurring basis. These assets are evaluated for impairment if certain triggering events occur. If such evaluation indicates that impairment exists, the asset is written down to its fair value. In addition, an impairment analysis is performed at least annually for goodwill and indefinite-lived intangible assets.

Equity Investments Without Readily Determinable Fair Value

The Company evaluates its equity investments without readily determinable fair values for impairment if factors indicate that a significant decrease in value has occurred. Beginning in October 2018, the Company prospectively adopted a new accounting standard on the accounting for equity investments that do not have readily determinable fair values. Refer to Note 2, “Summary of Significant Accounting Policies”, for further details. Under the new standard, the Company has elected to use the measurement alternative to fair value that will allow these investments to be recorded at cost, less impairment, and adjusted for subsequent observable price changes. The Company did not record any impairment charges on these investments during the nine months ended June 30, 2019. In addition, there were no observable price changes events that were completed during the nine months ended June 30, 2019.

Fair Value of Debt

Based on the level of interest rates prevailing at June 30, 2019, the fair value of the Company’s debt was $3.083 billion. Based on the level of interest rates prevailing at September 30, 2018, the fair value of the Company’s debt was $2.862 billion. The fair value of the Company’s debt instruments are determined using quoted market prices from less active markets or by using quoted market prices for instruments with identical terms and maturities; both approaches are considered a Level 2 measurement.

Condensed Financial Information Disclosure [Abstract]

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Related Party	9 Months Ended
Related Party	Jun. 30, 2019
Related Party Transactions [Abstract]
Related Party	Related Party On March 29, 2019, an affiliate of Access acquired the Ford Factory Building from an unaffiliated third party, located on 777 S. Santa Fe Avenue in Los Angeles, California. The Ford Factory is the Company’s Los Angeles, California headquarters and as such, the Company is the sole tenant of the building acquired by Access. The existing lease agreement was assumed by Access upon purchase of the building and was not modified as a result of the purchase. Rental payments by the Company under the existing lease total approximately $10 million per year, subject to annual fixed increases. The remaining lease term is approximately 11 years, after which the Company may exercise a single option to extend the term of the lease for 10 years thereafter.

Guarantor and Non-Guarantor Subsidiaries Financial Information

9 Months Ended

Jun. 30, 2019

Guarantor and Non-Guarantor Subsidiaries Financial Information

WARNER MUSIC GROUP CORP.

Supplementary Information

Consolidating Financial Statements

The Company is the direct parent of Holdings, which is the direct parent of Acquisition Corp. As of June 30, 2019, Acquisition Corp. had issued and outstanding the 5.00% Senior Secured Notes due 2023, the 4.125% Senior Secured Notes due 2024, the 4.875% Senior Secured Notes due 2024, the 3.625% Senior Secured Notes due 2026 and the 5.50% Senior Notes due 2026 (together, the “Acquisition Corp. Notes”).

The Acquisition Corp. Notes are guaranteed by the Company and, in addition, are guaranteed by all of Acquisition Corp.’s domestic wholly-owned subsidiaries. The secured notes are guaranteed on a senior secured basis and the unsecured notes are guaranteed on an unsecured senior basis. The Company’s guarantee of the Acquisition Corp. Notes is full and unconditional. The guarantee of the Acquisition Corp. Notes by Acquisition Corp.’s domestic, wholly-owned subsidiaries is full, unconditional and joint and several. The following condensed consolidating financial statements are also presented for the information of the holders of the Acquisition Corp. Notes and present the results of operations, financial position and cash flows of (i) Acquisition Corp., which is the issuer of the Acquisition Corp. Notes, (ii) the guarantor subsidiaries of Acquisition Corp., (iii) the non-guarantor subsidiaries of Acquisition Corp. and (iv) the eliminations necessary to arrive at the information for Acquisition Corp. on a consolidated basis. Investments in consolidated subsidiaries are presented under the equity method of accounting. There are no restrictions on Acquisition Corp.’s ability to obtain funds from any of its wholly-owned subsidiaries through dividends, loans or advances.

The Company and Holdings are holding companies that conduct substantially all of their business operations through Acquisition Corp. Accordingly, the ability of the Company and Holdings to obtain funds from their subsidiaries is restricted by the indentures for the Acquisition Corp. Notes and the credit agreements for the Acquisition Corp. Senior Credit Facilities, including the Revolving Credit Facility and Senior Term Loan Facility.

Consolidating Balance Sheet (Unaudited)

June 30, 2019



	WMG Acquisition Corp. (issuer)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			WMG Acquisition Corp. Consolidated			WMG Holdings Corp.		Warner Music Group Corp.		Eliminations			Warner Music Group Corp. Consolidated
	(in millions)
Assets:
Current assets:
Cash and equivalents	$	—		$	297		$	244		$	—		$	541		$	—	$	—	$	—		$	541
Accounts receivable, net	—			331			413			—			744			—		—		—			744
Inventories	—			13			54			—			67			—		—		—			67
Royalty advances expected to be recouped within one year	—			103			68			—			171			—		—		—			171
Prepaid and other current assets	—			10			47			—			57			—		—		—			57
Total current assets	—			754			826			—			1,580			—		—		—			1,580
Due from (to) parent companies	473			(430		)	(43		)	—			—			—		—		—			—
Investments in and advances to consolidated subsidiaries	2,409			2,394			—			(4,803		)	—			809		809		(1,618		)	—
Royalty advances expected to be recouped after one year	—			126			83			—			209			—		—		—			209
Property, plant and equipment, net	—			195			101			—			296			—		—		—			296
Goodwill	—			1,370			402			—			1,772			—		—		—			1,772
Intangible assets subject to amortization, net	—			902			878			—			1,780			—		—		—			1,780
Intangible assets not subject to amortization	—			71			82			—			153			—		—		—			153
Deferred tax assets, net	—			—			7			—			7			—		—		—			7
Other assets	5			124			29			—			158			—		—		—			158
Total assets	$	2,887		$	5,506		$	2,365		$	(4,803	)	$	5,955		$	809	$	809	$	(1,618	)	$	5,955
Liabilities and Deficit:
Current liabilities:
Accounts payable	$	—		$	127		$	81		$	—		$	208		$	—	$	—	$	—		$	208
Accrued royalties	5			803			769			—			1,577			—		—		—			1,577
Accrued liabilities	—			234			214			—			448			—		—		—			448
Accrued interest	18			—			—			—			18			—		—		—			18
Deferred revenue	—			51			119			—			170			—		—		—			170
Other current liabilities	—			42			81			—			123			—		—		—			123
Total current liabilities	23			1,257			1,264			—			2,544			—		—		—			2,544
Long-term debt	3,006			—			—			—			3,006			—		—		—			3,006
Deferred tax liabilities, net	—			61			175			—			236			—		—		—			236
Other noncurrent liabilities	10			182			110			—			302			—		—		—			302
Total liabilities	3,039			1,500			1,549			—			6,088			—		—		—			6,088
Total Warner Music Group Corp. (deficit) equity	(152		)	4,002			801			(4,803		)	(152		)	809		809		(1,618		)	(152		)
Noncontrolling interest	—			4			15			—			19			—		—		—			19
Total equity	(152		)	4,006			816			(4,803		)	(133		)	809		809		(1,618		)	(133		)
Total liabilities and equity	$	2,887		$	5,506		$	2,365		$	(4,803	)	$	5,955		$	809	$	809	$	(1,618	)	$	5,955

Consolidating Balance Sheet

September 30, 2018



	WMG Acquisition Corp. (issuer)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			WMG Acquisition Corp. Consolidated			WMG Holdings Corp.		Warner Music Group Corp.		Eliminations			Warner Music Group Corp. Consolidated
	(in millions)
Assets:
Current assets:
Cash and equivalents	$	—		$	169		$	345		$	—		$	514		$	—	$	—	$	—		$	514
Accounts receivable, net	—			262			185			—			447			—		—		—			447
Inventories	—			18			24			—			42			—		—		—			42
Royalty advances expected to be recouped within one year	—			79			44			—			123			—		—		—			123
Prepaid and other current assets	—			15			35			—			50			—		—		—			50
Total current assets	—			543			633			—			1,176			—		—		—			1,176
Due from (to) parent companies	488			(214		)	(274		)	—			—			—		—		—			—
Investments in and advances to consolidated subsidiaries	2,018			2,192			—			(4,210		)	—			675		675		(1,350		)	—
Royalty advances expected to be recouped after one year	—			93			60			—			153			—		—		—			153
Property, plant and equipment, net	—			155			74			—			229			—		—		—			229
Goodwill	—			1,370			322			—			1,692			—		—		—			1,692
Intangible assets subject to amortization, net	—			956			895			—			1,851			—		—		—			1,851
Intangible assets not subject to amortization	—			71			83			—			154			—		—		—			154
Deferred tax assets, net	—			—			11			—			11			—		—		—			11
Other assets	12			55			11			—			78			—		—		—			78
Total assets	$	2,518		$	5,221		$	1,815		$	(4,210	)	$	5,344		$	675	$	675	$	(1,350	)	$	5,344
Liabilities and Deficit:
Current liabilities:
Accounts payable	$	—		$	200		$	81		$	—		$	281		$	—	$	—	$	—		$	281
Accrued royalties	—			869			527			—			1,396			—		—		—			1,396
Accrued liabilities	—			195			228			—			423			—		—		—			423
Accrued interest	31			—			—			—			31			—		—		—			31
Deferred revenue	—			94			114			—			208			—		—		—			208
Other current liabilities	—			2			32			—			34			—		—		—			34
Total current liabilities	31			1,360			982			—			2,373			—		—		—			2,373
Long-term debt	2,819			—			—			—			2,819			—		—		—			2,819
Deferred tax liabilities, net	—			3			162			—			165			—		—		—			165
Other noncurrent liabilities	2			197			108			—			307			—		—		—			307
Total liabilities	2,852			1,560			1,252			—			5,664			—		—		—			5,664
Total Warner Music Group Corp. (deficit) equity	(334		)	3,656			554			(4,210		)	(334		)	675		675		(1,350		)	(334		)
Noncontrolling interest	—			5			9			—			14			—		—		—			14
Total equity	(334		)	3,661			563			(4,210		)	(320		)	675		675		(1,350		)	(320		)
Total liabilities and equity	$	2,518		$	5,221		$	1,815		$	(4,210	)	$	5,344		$	675	$	675	$	(1,350	)	$	5,344

Consolidating Statement of Operations (Unaudited)

For The Three Months Ended June 30, 2019



	WMG Acquisition Corp. (issuer)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			WMG Acquisition Corp. Consolidated			WMG Holdings Corp.		Warner Music Group Corp.		Eliminations			Warner Music Group Corp. Consolidated
	(in millions)
Revenue	$	—		$	410		$	760		$	(112	)	$	1,058		$	—	$	—	$	—		$	1,058
Costs and expenses:
Cost of revenue	—			(216		)	(442		)	81			(577		)	—		—		—			(577		)
Selling, general and administrative expenses	—			(198		)	(203		)	29			(372		)	—		—		—			(372		)
Amortization of intangible assets	—			(24		)	(27		)	—			(51		)	—		—		—			(51		)
Total costs and expenses	—			(438		)	(672		)	110			(1,000		)	—		—		—			(1,000		)
Operating income (loss)	—			(28		)	88			(2		)	58			—		—		—			58
Loss on extinguishment of debt	(4		)	—			—			—			(4		)	—		—		—			(4		)
Interest expense, net	(30		)	—			(6		)	—			(36		)	—		—		—			(36		)
Equity gains from equity method investments	43			58			—			(101		)	—			13		13		(26		)	—
Other (expense) income, net	(8		)	37			(45		)	—			(16		)	—		—		—			(16		)
Income before income taxes	1			67			37			(103		)	2			13		13		(26		)	2
Income tax benefit	12			15			9			(24		)	12			—		—		—			12
Net income	13			82			46			(127		)	14			13		13		(26		)	14
Less: income attributable to noncontrolling interest	—			—			(1		)	—			(1		)	—		—		—			(1		)
Net income attributable to Warner Music Group Corp.	$	13		$	82		$	45		$	(127	)	$	13		$	13	$	13	$	(26	)	$	13

Consolidating Statement of Operations (Unaudited)

For Three Months Ended June 30, 2018



	WMG Acquisition Corp. (issuer)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			WMG Acquisition Corp. Consolidated			WMG Holdings Corp.		Warner Music Group Corp.		Eliminations			Warner Music Group Corp. Consolidated
	(in millions)
Revenue	$	—		$	544		$	533		$	(119	)	$	958		$	—	$	—	$	—		$	958
Costs and expenses:
Cost of revenue	—			(261		)	(346		)	76			(531		)	—		—		—			(531		)
Selling, general and administrative expenses	—			(252		)	(133		)	42			(343		)	—		—		—			(343		)
Amortization of intangible assets	—			(23		)	(33		)	—			(56		)	—		—		—			(56		)
Total costs and expenses	—			(536		)	(512		)	118			(930		)	—		—		—			(930		)
Operating income (loss)	—			8			21			(1		)	28			—		—		—			28
Loss on extinguishment of debt	(7		)	—			—			—			(7		)	—		—		—			(7		)
Interest (expense) income, net	(27		)	2			(8		)	—			(33		)	—		—		—			(33		)
Equity gains from equity method investments	39			23			—			(62		)	—			320		320		(640		)	—
Other income (expense), net	376			(1		)	19			—			394			—		—		—			394
Income before income taxes	381			32			32			(63		)	382			320		320		(640		)	382
Income tax (expense) benefit	(61		)	(62		)	7			55			(61		)	—		—		—			(61		)
Net income (loss)	320			(30		)	39			(8		)	321			320		320		(640		)	321
Less: income attributable to noncontrolling interest	—			—			(1		)	—			(1		)	—		—		—			(1		)
Net income (loss) attributable to Warner Music Group Corp.	$	320		$	(30	)	$	38		$	(8	)	$	320		$	320	$	320	$	(640	)	$	320

Consolidating Statement of Operations (Unaudited)

For The Nine Months Ended June 30, 2019



	WMG Acquisition Corp. (issuer)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			WMG Acquisition Corp. Consolidated			WMG Holdings Corp.		Warner Music Group Corp.		Eliminations			Warner Music Group Corp. Consolidated
	(in millions)
Revenue	$	—		$	1,352		$	2,286		$	(287	)	$	3,351		$	—	$	—	$	—		$	3,351
Costs and expenses:
Cost of revenue	—			(653		)	(1,338		)	229			(1,762		)	—		—		—			(1,762		)
Selling, general and administrative expenses	—			(573		)	(586		)	57			(1,102		)	—		—		—			(1,102		)
Amortization of intangible assets	—			(74		)	(86		)	—			(160		)	—		—		—			(160		)
Total costs and expenses	—			(1,300		)	(2,010		)	286			(3,024		)	—		—		—			(3,024		)
Operating income	—			52			276			(1		)	327			—		—		—			327
Loss on extinguishment of debt	(7		)	—			—			—			(7		)	—		—		—			(7		)
Interest (expense) income, net	(92		)	2			(18		)	—			(108		)	—		—		—			(108		)
Equity gains from equity method investments	345			201			—			(546		)	—			166		166		(332		)	—
Other income (expense), net	6			107			(72		)	—			41			—		—		—			41
Income before income taxes	252			362			186			(547		)	253			166		166		(332		)	253
Income tax expense	(86		)	(79		)	(41		)	120			(86		)	—		—		—			(86		)
Net income	166			283			145			(427		)	167			166		166		(332		)	167
Less: income attributable to noncontrolling interest	—			—			(1		)	—			(1		)	—		—		—			(1		)
Net income attributable to Warner Music Group Corp.	$	166		$	283		$	144		$	(427	)	$	166		$	166	$	166	$	(332	)	$	166

Consolidating Statement of Operations (Unaudited)

For The Nine Months Ended June 30, 2018



	WMG Acquisition Corp. (issuer)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			WMG Acquisition Corp. Consolidated			WMG Holdings Corp.		Warner Music Group Corp.		Eliminations			Warner Music Group Corp. Consolidated
	(in millions)
Revenue	$	—		$	1,626		$	1,703		$	(363	)	$	2,966		$	—	$	—	$	—		$	2,966
Costs and expenses:
Cost of revenue	—			(760		)	(1,066		)	238			(1,588		)	—		—		—			(1,588		)
Selling, general and administrative expenses	—			(731		)	(406		)	124			(1,013		)	—		—		—			(1,013		)
Amortization of intangible assets	—			(70		)	(94		)	—			(164		)	—		—		—			(164		)
Total costs and expenses	—			(1,561		)	(1,566		)	362			(2,765		)	—		—		—			(2,765		)
Operating income	—			65			137			(1		)	201			—		—		—			201
Loss on extinguishment of debt	(31		)	—			—			—			(31		)	—		—		—			(31		)
Interest (expense) income, net	(87		)	3			(21		)	—			(105		)	—		—		—			(105		)
Equity gains from equity method investments	195			99			—			(294		)	—			321		321		(642		)	—
Other income, net	376			8			8			—			392			—		—		—			392
Income before income taxes	453			175			124			(295		)	457			321		321		(642		)	457
Income tax expense	(132		)	(131		)	(21		)	152			(132		)	—		—		—			(132		)
Net income	321			44			103			(143		)	325			321		321		(642		)	325
Less: income attributable to noncontrolling interest	—			(1		)	(3		)	—			(4		)	—		—		—			(4		)
Net income attributable to Warner Music Group Corp.	$	321		$	43		$	100		$	(143	)	$	321		$	321	$	321	$	(642	)	$	321

Consolidating Statement of Comprehensive Income (Unaudited)

For The Three Months Ended June 30, 2019



	WMG Acquisition Corp. (issuer)			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			WMG Acquisition Corp. Consolidated			WMG Holdings Corp.			Warner Music Group Corp.			Eliminations			Warner Music Group Corp. Consolidated
	(in millions)
Net income	$	13		$	82	$	46		$	(127	)	$	14		$	13		$	13		$	(26	)	$	14
Other comprehensive income (loss), net of tax:
Foreign currency adjustment	9			—		(9		)	9			9			10			10			(20		)	9
Deferred (loss) gains on derivatives	(3		)	—		1			(1		)	(3		)	(3		)	(3		)	6			(3		)
Other comprehensive income (loss), net of tax:	6			—		(8		)	8			6			7			7			(14		)	6
Total comprehensive income	19			82		38			(119		)	20			20			20			(40		)	20
Less: income attributable to noncontrolling interest	—			—		(1		)	—			(1		)	—			—			—			(1		)
Comprehensive income attributable to Warner Music Group Corp.	$	19		$	82	$	37		$	(119	)	$	19		$	20		$	20		$	(40	)	$	19

Consolidating Statement of Comprehensive Income (Unaudited)

For The Three Months Ended June 30, 2018



	WMG Acquisition Corp. (issuer)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			WMG Acquisition Corp. Consolidated			WMG Holdings Corp.			Warner Music Group Corp.			Eliminations			Warner Music Group Corp. Consolidated
	(in millions)
Net income (loss)	$	320		$	(30	)	$	39		$	(8	)	$	321		$	320		$	320		$	(640	)	$	321
Other comprehensive (loss) income, net of tax:
Foreign currency adjustment	(31		)	—			31			(31		)	(31		)	(31		)	(31		)	62			(31		)
Deferred loss on derivatives	(3		)	—			—			—			(3		)	(3		)	(3		)	6			(3		)
Other comprehensive (loss) income, net of tax:	(34		)	—			31			(31		)	(34		)	(34		)	(34		)	68			(34		)
Total comprehensive income (loss)	286			(30		)	70			(39		)	287			286			286			(572		)	287
Less: income attributable to noncontrolling interest	—			—			(1		)	—			(1		)	—			—			—			(1		)
Comprehensive income (loss) attributable to Warner Music Group Corp.	$	286		$	(30	)	$	69		$	(39	)	$	286		$	286		$	286		$	(572	)	$	286

Consolidating Statement of Comprehensive Income (Unaudited)

For The Nine Months Ended June 30, 2019



	WMG Acquisition Corp. (issuer)			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			WMG Acquisition Corp. Consolidated			WMG Holdings Corp.			Warner Music Group Corp.			Eliminations			Warner Music Group Corp. Consolidated
	(in millions)
Net income	$	166		$	283	$	145		$	(427	)	$	167		$	166		$	166		$	(332	)	$	167
Other comprehensive (loss) income, net of tax:
Foreign currency adjustment	(17		)	—		17			(17		)	(17		)	(19		)	(19		)	38			(17		)
Deferred loss on derivatives	(12		)	—		(1		)	1			(12		)	(12		)	(12		)	24			(12		)
Other comprehensive (loss) income, net of tax:	(29		)	—		16			(16		)	(29		)	(31		)	(31		)	62			(29		)
Total comprehensive income	137			283		161			(443		)	138			135			135			(270		)	138
Less: income attributable to noncontrolling interest	—			—		(1		)	—			(1		)	—			—			—			(1		)
Comprehensive income attributable to Warner Music Group Corp.	$	137		$	283	$	160		$	(443	)	$	137		$	135		$	135		$	(270	)	$	137

Consolidating Statement of Comprehensive Income (Unaudited)

For The Nine Months Ended June 30, 2018



	WMG Acquisition Corp. (issuer)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			WMG Acquisition Corp. Consolidated			WMG Holdings Corp.			Warner Music Group Corp.			Eliminations			Warner Music Group Corp. Consolidated
	(in millions)
Net income	$	321		$	44		$	103		$	(143	)	$	325		$	321		$	321		$	(642	)	$	325
Other comprehensive (loss) income, net of tax:
Foreign currency adjustment	(13		)	—			13			(13		)	(13		)	(13		)	(13		)	26			(13		)
Deferred loss on derivatives	(1		)	—			—			—			(1		)	(1		)	(1		)	2			(1		)
Other comprehensive (loss) income, net of tax:	(14		)	—			13			(13		)	(14		)	(14		)	(14		)	28			(14		)
Total comprehensive income	307			44			116			(156		)	311			307			307			(614		)	311
Less: income attributable to noncontrolling interest	—			(1		)	(3		)	—			(4		)	—			—			—			(4		)
Comprehensive income attributable to Warner Music Group Corp.	$	307		$	43		$	113		$	(156	)	$	307		$	307		$	307		$	(614	)	$	307

Consolidating Statement of Cash Flows (Unaudited)

For The Nine Months Ended June 30, 2019



	WMG Acquisition Corp. (issuer)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			WMG Acquisition Corp. Consolidated			WMG Holdings Corp.			Warner Music Group Corp.			Eliminations			Warner Music Group Corp. Consolidated
	(in millions)
Cash flows from operating activities
Net income	$	166		$	283		$	145		$	(427	)	$	167		$	166		$	166		$	(332	)	$	167
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	—			103			100			—			203			—			—			—			203
Unrealized gains and remeasurement of foreign denominated loans	(5		)	(1		)	—			—			(6		)	—			—			—			(6		)
Deferred income taxes	—			—			25						25												25
Loss on extinguishment of debt	7			—			—			—			7			—			—			—			7
Net gain on investments	—			(25		)	(2		)	—			(27		)	—			—			—			(27		)
Non-cash interest expense	5			—			—			—			5			—			—			—			5
Equity-based compensation expense	—			28			—			—			28			—			—			—			28
Equity gains, including distributions	(345		)	(201		)	—			546			—			(166		)	(166		)	332			—
Changes in operating assets and liabilities:
Accounts receivable, net	—			11			(61		)	—			(50		)	—			—			—			(50		)
Inventories	—			5			7			—			12			—			—			—			12
Royalty advances	—			(57		)	(50		)	—			(107		)	—			—			—			(107		)
Accounts payable and accrued liabilities	—			239			(214		)	(119		)	(94		)	—			—			—			(94		)
Royalty payables	5			(82		)	194			—			117			—			—			—			117
Accrued interest	(13		)	—			—			—			(13		)	—			—			—			(13		)
Deferred revenue	—			(45		)	28			—			(17		)	—			—			—			(17		)
Other balance sheet changes	3			54			(58		)	—			(1		)	—			—			—			(1		)
Net cash (used in) provided by operating activities	(177		)	312			114			—			249			—			—			—			249
Cash flows from investing activities
Acquisition of music publishing rights, net	—			(19		)	(5		)	—			(24		)	—			—			—			(24		)
Capital expenditures	—			(70		)	(12		)	—			(82		)	—			—			—			(82		)
Investments and acquisitions of businesses, net	—			(40		)	(194		)	—			(234		)	—			—			—			(234		)
Advances from issuer	(8		)	—			—			8			—			—			—			—			—
Net cash used in investing activities	(8		)	(129		)	(211		)	8			(340		)	—			—			—			(340		)
Cash flows from financing activities
Proceeds from issuance of Acquisition Corp. 3.625% Sr Secured Notes due 2026	514			—			—			—			514			—			—			—			514
Repayment of Acquisition Corp. 4.125% Senior Secured Notes	(40		)	—			—			—			(40		)	—			—			—			(40		)
Repayment of Acquisition Corp. 4.875% Senior Secured Notes	(30		)	—			—			—			(30		)	—			—			—			(30		)
Repayment of Acquisition Corp. 5.625% Senior Secured Notes	(247		)	—			—			—			(247		)	—			—			—			(247		)
Call premiums paid and deposit on early redemption of debt	(5		)	—			—			—			(5		)	—			—			—			(5		)
Deferred financing costs paid	(7		)	—			—			—			(7		)	—			—			—			(7		)
Distribution to noncontrolling interest holder	—			—			(3		)	—			(3		)	—			—			—			(3		)
Dividends paid	—			(63		)	—			—			(63		)	—			—			—			(63		)
Change in due to (from) issuer	—			8			—			(8		)	—			—			—			—			—
Net cash provided by (used in) financing activities	185			(55		)	(3		)	(8		)	119			—			—			—			119
Effect of exchange rate changes on cash and equivalents	—			—			(1		)	—			(1		)	—			—			—			(1		)
Net increase (decrease) in cash and equivalents	—			128			(101		)	—			27			—			—			—			27
Cash and equivalents at beginning of period	—			169			345			—			514			—			—			—			514
Cash and equivalents at end of period	$	—		$	297		$	244		$	—		$	541		$	—		$	—		$	—		$	541

Consolidating Statement of Cash Flows (Unaudited)

For The Nine Months Ended June 30, 2018



	WMG Acquisition Corp. (issuer)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			WMG Acquisition Corp. Consolidated			WMG Holdings Corp.			Warner Music Group Corp.			Eliminations			Warner Music Group Corp. Consolidated
	(in millions)
Cash flows from operating activities
Net income	$	321		$	44		$	103		$	(143	)	$	325		$	321		$	321		$	(642	)	$	325
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	—			101			104			—			205			—			—			—			205
Unrealized (gains) losses and remeasurement of foreign denominated loans	(5		)	(3		)	2			—			(6		)	—			—			—			(6		)
Deferred income taxes	—			—			105			—			105			—			—			—			105
Loss on extinguishment of debt	31			—			—			—			31			—			—			—			31
Net (gain) loss on divestitures and investments	(503		)	84			34			—			(385		)	—			—			—			(385		)
Non-cash interest expense	5			—			—			—			5			—			—			—			5
Equity-based compensation expense	—			52			—			—			52			—			—			—			52
Equity gains, including distributions	(195		)	(99		)	—			294			—			(321		)	(321		)	642			—
Changes in operating assets and liabilities:
Accounts receivable, net	—			(39		)	(4		)	—			(43		)	—			—			—			(43		)
Inventories	—			(5		)	4			—			(1		)	—			—			—			(1		)
Accounts payable and accrued liabilities	—			256			(189		)	(151		)	(84		)	—			—			—			(84		)
Royalty payables	—			32			81			—			113			—			—			—			113
Accrued interest	(22		)	—			—			—			(22		)	—			—			—			(22		)
Deferred revenue	—			30			(30		)	—			—			—			—			—			—
Other balance sheet changes	(3		)	82			(109		)	—			(30		)	—			—			—			(30		)
Net cash (used in) provided by operating activities	(371		)	535			101			—			265			—			—			—			265
Cash flows from investing activities
Acquisition of music publishing rights, net	—			(7		)	(4		)	—			(11		)	—			—			—			(11		)
Capital expenditures	—			(30		)	(10		)	—			(40		)	—			—			—			(40		)
Investments and acquisitions of businesses, net	—			(14		)	—			—			(14		)	—			—			—			(14		)
Proceeds from the sale of investments	504			12			—			—			516			—			—			—			516
Advances from issuer	(108		)	—			—			108			—			—			—			—			—
Net cash provided by (used in) investing activities	396			(39		)	(14		)	108			451			—			—			—			451
Cash flows from financing activities
Proceeds from issuance of Acquisition Corp. 5.50% Senior Notes	325			—			—			—			325			—			—			—			325
Proceeds from supplement of Acquisition Corp. Senior Term Loan Facility	320			—			—			—			320			—			—			—			320
Repayment of redemption deposit for Acquisition Corp. 6.75% Senior Notes	(635		)	—			—			—			(635		)	—			—			—			(635		)
Call premiums paid on and redemption deposit for early redemption of debt	(23		)	—			—			—			(23		)	—			—			—			(23		)
Deferred financing costs paid	(12		)	—			—			—			(12		)	—			—			—			(12		)
Distribution to noncontrolling interest holder	—			—			(3		)	—			(3		)	—			—			—			(3		)
Dividends paid	—			(397		)	(28		)	—			(425		)	—			—			—			(425		)
Change in due to (from) issuer	—			108			—			(108		)	—			—			—			—			—
Net cash used in financing activities	(25		)	(289		)	(31		)	(108		)	(453		)	—			—			—			(453		)
Effect of exchange rate changes on cash and equivalents	—			—			(5		)	—			(5		)	—			—			—			(5		)
Net increase in cash and equivalents	—			207			51			—			258			—			—			—			258
Cash and equivalents at beginning of period	—			347			300			—			647			—			—			—			647
Cash and equivalents at end of period	$	—		$	554		$	351		$	—		$	905		$	—		$	—		$	—		$	905

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Interim Financial Statements

For further information, refer to the consolidated financial statements and notes thereto included in our Annual Report on Form 10-K for the fiscal year ended September 30, 2018 (File No. 001-32502).

Basis of Consolidation

The Company has performed a review of all subsequent events through the date the financial statements were issued and has determined that no additional disclosures are necessary.

Income Taxes

New Accounting Pronouncements

Adoption of New Revenue Recognition Standard



	September 30, 2018			Impact of Adoption			October 1, 2018
	(in millions)
Assets
Accounts receivable, net	$	447		$	257		$	704
Total current assets	1,176			257			1,433
Other assets	78			15			93
Total assets	$	5,344		$	272		$	5,616
Liabilities and Equity
Accrued royalties	1,396			79			1,475
Accrued liabilities	423			(1		)	422
Deferred revenue	208			(27		)	181
Other current liabilities	34			33			67
Total current liabilities	2,373			84			2,457
Deferred tax liabilities, net	165			37			202
Other noncurrent liabilities	307			1			308
Total liabilities	5,664			122			5,786
Equity:
Accumulated Deficit	(1,272		)	139			(1,133		)
Noncontrolling interest	14			11			25
Total equity	(320		)	150			(170		)
Total liabilities and equity	$	5,344		$	272		$	5,616



	Three Months Ended June 30, 2019									Nine Months Ended June 30, 2019
	As Reported			Balances without adoption of ASC 606			Effect of Change			As Reported			Balances without adoption of ASC 606			Effect of Change
	(in millions)									(in millions)
Revenue	$	1,058		$	1,057		$	1		$	3,351		$	3,322		$	29
Cost and expenses:
Cost of revenue	(577		)	(558		)	(19		)	(1,762		)	(1,765		)	3
Operating income	58			76			(18		)	327			295			32
Income before income taxes	2			20			(18		)	253			221			32
Income tax benefit (expense)	12			17			(5		)	(86		)	(75		)	(11		)
Net income	14			37			(23		)	167			146			21
Less: Income attributable to noncontrolling interest	(1		)	—			(1		)	(1		)	(3		)	2
Net income attributable to Warner Music Group Corp.	$	13		$	37		$	(24	)	$	166		$	143		$	23



	June 30, 2019
	As Reported			Balances without adoption of ASC 606			Effect of Change
	(in millions)
Assets
Accounts receivable, net	$	744		$	465		$	279
Total current assets	1,580			1,301			279
Other assets	158			143			15
Deferred tax assets, net	7			7			—
Total assets	$	5,955		$	5,661		$	294
Liabilities and Equity
Accounts payable	208			209			(1		)
Accrued royalties	1,577			1,501			76
Accrued liabilities	448			449			(1		)
Deferred revenue	170			199			(29		)
Other current liabilities	123			95			28
Total current liabilities	2,544			2,471			73
Deferred tax liabilities, net	236			189			47
Other noncurrent liabilities	302			298			4
Total liabilities	6,088			5,964			124
Equity:
Accumulated deficit	(1,061		)	(1,221		)	160
Noncontrolling interest	19			9			10
Total equity	(133		)	(303		)	170
Total liabilities and equity	$	5,955		$	5,661		$	294



	June 30, 2019
	As Reported			Balances without adoption of ASC 606			Effect of Change
	(in millions)
Cash flows from operating activities
Net income	$	167		$	146		$	21
Deferred income taxes	25			15			10
Changes in operating assets and liabilities:
Accounts receivable, net	(50		)	(28		)	(22		)
Accounts payable and accrued liabilities	(94		)	(96		)	2
Royalty advances	(107		)	(104		)	(3		)
Deferred revenue	(17		)	(15		)	(2		)
Other balance sheet changes	(1		)	5			(6		)
Net cash provided by operating activities	249			249			—
Effect of exchange rate changes on cash and equivalents	(1		)	(1		)	—
Net decrease in cash and equivalents	27			27			—
Cash and equivalents at beginning of period	514			514			—
Cash and equivalents at end of period	$	541		$	541		$	—

Recently Adopted Accounting Pronouncements

Accounting Pronouncements Not Yet Adopted

Schedule of Cumulative Effect of Changes to Opening Balance Sheet from Adoption of ASC 606

Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 20
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32847-109319

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 954
-SubTopic 740
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6491622&loc=d3e9504-115650

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84158767&loc=d3e18780-107790

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32809-109319

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=116657188&loc=SL116659661-227067

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 19
-URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 45
-Paragraph 25
-URI http://asc.fasb.org/extlink&oid=116821951&loc=d3e32247-109318

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=116821951&loc=d3e32280-109318

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 05
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=65884525&loc=d3e40913-109327

+ Details

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]



	September 30, 2018			Impact of Adoption			October 1, 2018
	(in millions)
Assets
Accounts receivable, net	$	447		$	257		$	704
Total current assets	1,176			257			1,433
Other assets	78			15			93
Total assets	$	5,344		$	272		$	5,616
Liabilities and Equity
Accrued royalties	1,396			79			1,475
Accrued liabilities	423			(1		)	422
Deferred revenue	208			(27		)	181
Other current liabilities	34			33			67
Total current liabilities	2,373			84			2,457
Deferred tax liabilities, net	165			37			202
Other noncurrent liabilities	307			1			308
Total liabilities	5,664			122			5,786
Equity:
Accumulated Deficit	(1,272		)	139			(1,133		)
Noncontrolling interest	14			11			25
Total equity	(320		)	150			(170		)
Total liabilities and equity	$	5,344		$	272		$	5,616

Schedule of Impact of Adoption on Consolidated Statement of Operations, Balance Sheet and Statement of Cash Flows



	Three Months Ended June 30, 2019									Nine Months Ended June 30, 2019
	As Reported			Balances without adoption of ASC 606			Effect of Change			As Reported			Balances without adoption of ASC 606			Effect of Change
	(in millions)									(in millions)
Revenue	$	1,058		$	1,057		$	1		$	3,351		$	3,322		$	29
Cost and expenses:
Cost of revenue	(577		)	(558		)	(19		)	(1,762		)	(1,765		)	3
Operating income	58			76			(18		)	327			295			32
Income before income taxes	2			20			(18		)	253			221			32
Income tax benefit (expense)	12			17			(5		)	(86		)	(75		)	(11		)
Net income	14			37			(23		)	167			146			21
Less: Income attributable to noncontrolling interest	(1		)	—			(1		)	(1		)	(3		)	2
Net income attributable to Warner Music Group Corp.	$	13		$	37		$	(24	)	$	166		$	143		$	23



	June 30, 2019
	As Reported			Balances without adoption of ASC 606			Effect of Change
	(in millions)
Assets
Accounts receivable, net	$	744		$	465		$	279
Total current assets	1,580			1,301			279
Other assets	158			143			15
Deferred tax assets, net	7			7			—
Total assets	$	5,955		$	5,661		$	294
Liabilities and Equity
Accounts payable	208			209			(1		)
Accrued royalties	1,577			1,501			76
Accrued liabilities	448			449			(1		)
Deferred revenue	170			199			(29		)
Other current liabilities	123			95			28
Total current liabilities	2,544			2,471			73
Deferred tax liabilities, net	236			189			47
Other noncurrent liabilities	302			298			4
Total liabilities	6,088			5,964			124
Equity:
Accumulated deficit	(1,061		)	(1,221		)	160
Noncontrolling interest	19			9			10
Total equity	(133		)	(303		)	170
Total liabilities and equity	$	5,955		$	5,661		$	294



	June 30, 2019
	As Reported			Balances without adoption of ASC 606			Effect of Change
	(in millions)
Cash flows from operating activities
Net income	$	167		$	146		$	21
Deferred income taxes	25			15			10
Changes in operating assets and liabilities:
Accounts receivable, net	(50		)	(28		)	(22		)
Accounts payable and accrued liabilities	(94		)	(96		)	2
Royalty advances	(107		)	(104		)	(3		)
Deferred revenue	(17		)	(15		)	(2		)
Other balance sheet changes	(1		)	5			(6		)
Net cash provided by operating activities	249			249			—
Effect of exchange rate changes on cash and equivalents	(1		)	(1		)	—
Net decrease in cash and equivalents	27			27			—
Cash and equivalents at beginning of period	514			514			—
Cash and equivalents at end of period	$	541		$	541		$	—

Revenue Recognition (Tables)

9 Months Ended

Jun. 30, 2019

Revenue from Contract with Customer [Abstract]

Summary of Disaggregation of Revenue

Our revenue consists of the following categories, which aggregate into our segments - Recorded Music and Music Publishing (in millions):



	For the Three Months Ended June 30,						2019 vs. 2018
	2019			2018			$ Change			% Change
Revenue by Type
Digital	$	584		$	519		$	65		13	%
Physical	95			130			(35		)	-27	%
Total Digital and Physical	679			649			30			5	%
Artist services and expanded-rights	158			85			73			86	%
Licensing	76			68			8			12	%
Total Recorded Music	913			802			111			14	%
Performance	36			51			(15		)	-29	%
Digital	65			59			6			10	%
Mechanical	13			17			(4		)	-24	%
Synchronization	29			28			1			4	%
Other	4			4			—			—	%
Total Music Publishing	147			159			(12		)	-8	%
Intersegment eliminations	(2		)	(3		)	1			-33	%
Total Revenue	$	1,058		$	958		$	100		10	%
Revenue by Geographical Location
U.S. Recorded Music	$	395		$	356		$	39		11	%
U.S. Music Publishing	71			69			2			3	%
Total U.S.	466			425			41			10	%
International Recorded Music	518			446			72			16	%
International Music Publishing	76			90			(14		)	-16	%
Total International	594			536			58			11	%
Intersegment eliminations	(2		)	(3		)	1			-33	%
Total Revenue	$	1,058		$	958		$	100		10	%



	For the Nine Months Ended June 30,						2019 vs. 2018
	2019			2018			$ Change			% Change
Revenue by Type
Digital	$	1,744		$	1,491		$	253		17	%
Physical	456			500			(44		)	-9	%
Total Digital and Physical	2,200			1,991			209			10	%
Artist services and expanded-rights	458			264			194			73	%
Licensing	229			242			(13		)	-5	%
Total Recorded Music	2,887			2,497			390			16	%
Performance	135			153			(18		)	-12	%
Digital	195			169			26			15	%
Mechanical	41			55			(14		)	-25	%
Synchronization	89			90			(1		)	-1	%
Other	10			9			1			11	%
Total Music Publishing	470			476			(6		)	-1	%
Intersegment eliminations	(6		)	(7		)	1			-14	%
Total Revenue	$	3,351		$	2,966		$	385		13	%
Revenue by Geographical Location
U.S. Recorded Music	$	1,236		$	1,061		$	175		16	%
U.S. Music Publishing	219			220			(1		)	—	%
Total U.S.	1,455			1,281			174			14	%
International Recorded Music	1,651			1,436			215			15	%
International Music Publishing	251			256			(5		)	-2	%
Total International	1,902			1,692			210			12	%
Intersegment eliminations	(6		)	(7		)	1			-14	%
Total Revenue	$	3,351		$	2,966		$	385		13	%

Summary of Revenues Expected to be Recognized in Future Related to Performance Obligations

Revenues expected to be recognized in the future related to performance obligations that are unsatisfied at June 30, 2019 are as follows (in millions):



	Rest of FY19		FY20		FY21		Thereafter		Total
	(in millions)
Remaining performance obligations	$	51	$	138	$	94	$	7	$	290
Total	$	51	$	138	$	94	$	7	$	290

Acquisition of EMP (Tables)

9 Months Ended

Jun. 30, 2019

Business Combinations [Abstract]

Schedule of Estimated Fair Values of the Assets Acquired and Liabilities Assumed



Purchase Price	€	155
Working Capital	10
Final Purchase Price	€	165
Foreign Currency Rate at October 10, 2018	1.15
Final Purchase Price in U.S. dollars	$	190
Fair value of assets acquired and liabilities assumed
Cash and equivalents	$	7
Accounts receivable, net	3
Inventories	37
Other current assets	5
Property plant and equipment	32
Intangible assets	81
Accounts payable	(18		)
Other current liabilities	(11		)
Deferred revenue	(7		)
Deferred tax liabilities	(25		)
Other noncurrent liabilities	(3		)
Fair value of assets acquired and liabilities assumed	101
Goodwill recorded	89
Total purchase price allocated	$	190

Schedule of Pro Forma Financial Information

The pro forma information as presented below is for informational purposes only and is not indicative of the results of operations that would have been achieved if the Acquisition had taken place at the beginning of fiscal 2018.



	Three Months Ended June 30, 2019		Three Months Ended June 30, 2018		Nine Months Ended June 30, 2019		Nine Months Ended June 30, 2018
	(in millions)				(in millions)
Revenue	$	1,058	$	1,011	$	3,356	$	3,153
Operating income	58		29		327		201
Net income attributable to Warner Music Group	$	13	$	321	$	166	$	320

Comprehensive Income (Tables)

9 Months Ended

Jun. 30, 2019

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss

The following summary sets forth the changes in the components of accumulated other comprehensive loss, net of related taxes of approximately $1 million:



	Foreign Currency Translation Loss (a)			Minimum Pension Liability Adjustment			Deferred Losses On Derivative Financial Instruments			Accumulated Other Comprehensive Loss, net
	(in millions)
Balance at September 30, 2018	$	(184	)	$	(9	)	$	3		$	(190	)
Other comprehensive loss	(17		)	—			(12		)	(29		)
Balance at June 30, 2019	$	(201	)	$	(9	)	$	(9	)	$	(219	)

__________________________

(a)Includes historical foreign currency translation related to certain intra-entity transactions.

Goodwill and Intangible Assets (Tables)

9 Months Ended

Jun. 30, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in Goodwill for Each Reportable Segment

The following analysis details the changes in goodwill for each reportable segment:



	Recorded Music			Music Publishing		Total
	(in millions)
Balance at September 30, 2018	$	1,228		$	464	$	1,692
Acquisitions (a)	89			—		89
Divestitures	—			—		—
Other adjustments (b)	(9		)	—		(9		)
Balance at June 30, 2019	$	1,308		$	464	$	1,772

_______________________


(a)	Relates to the acquisition of EMP during the nine months ended June 30, 2019.


(b)	Other adjustments during the nine months ended June 30, 2019 represent foreign currency movements.

Schedule of Indefinite Intangible Assets

Intangible assets consist of the following:



	Weighted Average Useful Life	June 30, 2019			September 30, 2018
		(in millions)
Intangible assets subject to amortization:
Recorded music catalog	10 years	$	861		$	870
Music publishing copyrights	26 years	1,555			1,540
Artist and songwriter contracts	13 years	853			864
Trademarks	18 years	52			12
Other intangible assets	7 years	58			26
Total gross intangible asset subject to amortization		3,379			3,312
Accumulated amortization		(1,599		)	(1,461		)
Total net intangible assets subject to amortization		1,780			1,851
Intangible assets not subject to amortization:
Trademarks and tradenames	Indefinite	153			154
Total net intangible assets		$	1,933		$	2,005

Schedule of Finite-Lived Intangible Assets

Intangible assets consist of the following:



	Weighted Average Useful Life	June 30, 2019			September 30, 2018
		(in millions)
Intangible assets subject to amortization:
Recorded music catalog	10 years	$	861		$	870
Music publishing copyrights	26 years	1,555			1,540
Artist and songwriter contracts	13 years	853			864
Trademarks	18 years	52			12
Other intangible assets	7 years	58			26
Total gross intangible asset subject to amortization		3,379			3,312
Accumulated amortization		(1,599		)	(1,461		)
Total net intangible assets subject to amortization		1,780			1,851
Intangible assets not subject to amortization:
Trademarks and tradenames	Indefinite	153			154
Total net intangible assets		$	1,933		$	2,005

Debt (Tables)

9 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Long-term Debt

Long-term debt, all of which was issued by Acquisition Corp., consists of the following:



	June 30, 2019		September 30, 2018
	(in millions)
Revolving Credit Facility (a)	$	—	$	—
Senior Term Loan Facility due 2023 (b)	1,313		1,310
5.625% Senior Secured Notes due 2022 (c)	—		246
5.000% Senior Secured Notes due 2023 (d)	298		297
4.125% Senior Secured Notes due 2024 (e)	349		399
4.875% Senior Secured Notes due 2024 (f)	218		247
3.625% Senior Secured Notes due 2026 (g)	507		—
5.500% Senior Notes due 2026 (h)	321		320
Total debt (i)	$	3,006	$	2,819

_______________________


(a)	Reflects $180 million of commitments under the Revolving Credit Facility available at both June 30, 2019 and September 30, 2018, less letters of credit outstanding of approximately $13 million at June 30, 2019 and $8 million at September 30, 2018. There were no loans outstanding under the Revolving Credit Facility at June 30, 2019 or September 30, 2018.


(b)	Principal amount of $1.326 billion less unamortized discount of $3 million and unamortized deferred financing costs of $10 million and $12 million at June 30, 2019 and September 30, 2018, respectively.


(c)	On May 16, 2019, Acquisition Corp. redeemed the remaining $221 million of its outstanding 5.625% Senior Notes due 2022. The Company recorded a loss on extinguishment of debt of approximately $4 million as a result of the debt redemption, which represents the premium paid on early redemption and unamortized deferred financing costs.


(d)	Principal amount of $300 million less unamortized deferred financing costs of $2 million at both June 30, 2019 and September 30, 2018.

(e)


(f)	Principal amount of $220 million and $250 million less unamortized deferred financing costs of $2 million and $3 million at June 30, 2019 and September 30, 2018, respectively.


(g)	Face amount of €445 million at June 30, 2019. Above amounts represent the dollar equivalent of such note at June 30, 2019. Principal amount of $506 million, an additional issuance premium of $8 million, less unamortized deferred financing costs of $7 million at June 30, 2019.


(h)	Principal amount of $325 million and $325 million less unamortized deferred financing costs of $4 million and $5 million at June 30, 2019 and September 30, 2018, respectively.


(i)	Principal amount of debt of $3.030 billion and $2.851 billion, an additional issuance premium of $8 million and nil, less unamortized discount of $3 million and $4 million and unamortized deferred financing costs of $29 million and $28 million at June 30, 2019 and September 30, 2018, respectively.

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Derivative Financial Instruments (Tables)

9 Months Ended

Jun. 30, 2019

Summary of Amounts Recorded in Consolidated Balance Sheets

The following is a summary of amounts recorded in the Consolidated Balance Sheets pertaining to the Company’s designated cash flows hedges at June 30, 2019 and September 30, 2018:



	June 30, 2019 (a)		September 30, 2018 (b)
	(in millions)
Other current assets	$	1	$	—
Other current liabilities	—		—
Other noncurrent assets	—		4
Other noncurrent liabilities	11		—

_______________________


(a)	$4 million and $3 million of foreign exchange derivative contracts in asset and liability positions, respectively, and $11 million of interest rate swap in a liability position including non-designated cash flow hedges.


(b)	$4 million of interest rate swap in an asset position.

Segment Information (Tables)

9 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Schedule of Segment Information



	Recorded Music		Music Publishing		Corporate expenses and eliminations			Total
Three Months Ended	(in millions)
June 30, 2019
Revenue	$	913	$	147	$	(2	)	$	1,058
Operating income (loss)	85		18		(45		)	58
Amortization of intangible assets	34		17		—			51
Depreciation of property, plant and equipment	12		1		2			15
OIBDA	131		36		(43		)	124
June 30, 2018
Revenue	$	802	$	159	$	(3	)	$	958
Operating income (loss)	67		5		(44		)	28
Amortization of intangible assets	39		17		—			56
Depreciation of property, plant and equipment	9		2		4			15
OIBDA	115		24		(40		)	99



	Recorded Music		Music Publishing		Corporate expenses and eliminations			Total
Nine Months Ended	(in millions)
June 30, 2019
Revenue	$	2,887	$	470	$	(6	)	$	3,351
Operating income (loss)	382		67		(122		)	327
Amortization of intangible assets	109		51		—			160
Depreciation of property, plant and equipment	31		4		8			43
OIBDA	522		122		(114		)	530
June 30, 2018
Revenue	$	2,497	$	476	$	(7	)	$	2,966
Operating income (loss)	276		45		(120		)	201
Amortization of intangible assets	113		51		—			164
Depreciation of property, plant and equipment	26		5		10			41
OIBDA	415		101		(110		)	406

Fair Value Measurements (Tables)

9 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Financial Instruments



	Fair Value Measurements as of June 30, 2019
	(Level 1)		(Level 2)			(Level 3)			Total
	(in millions)
Other Current Assets:
Foreign Currency Forward Exchange Contracts (a)	$	—	$	1		$	—		$	1
Other Current Liabilities:
Contractual Obligations (b)	—		—			(3		)	(3		)
Other Noncurrent Assets:
Equity Method Investment (d)	—		45			—			45
Other Noncurrent Liabilities:
Contractual Obligations (b)	—		—			(6		)	(6		)
Interest Rate Swap (c)	—		(11		)	—			(11		)
Total	$	—	$	35		$	(9	)	$	26



	Fair Value Measurements as of September 30, 2018
	(Level 1)		(Level 2)		(Level 3)			Total
	(in millions)
Other Current Liabilities:
Contractual Obligations (b)	$	—	$	—	$	(2	)	$	(2	)
Other Noncurrent Assets:
Interest Rate Swap (c)	—		4		—			4
Other Noncurrent Liabilities:
Contractual Obligations (b)	—		—		(6		)	(6		)
Total	$	—	$	4	$	(8	)	$	(4	)

_______________________


(a)	The fair value of foreign currency forward exchange contracts is based on dealer quotes of market forward rates and reflects the amount that the Company would receive or pay at their maturity dates for contracts involving the same currencies and maturity dates.

(b)


(c)	The fair value of the interest rate swap is based on dealer quotes of market forward rates and reflects the amount that the Company would receive or pay as of June 30, 2019 for contracts involving the same attributes and maturity dates.


(d)	The fair value of equity method investment represents an equity method investment acquired during the nine months June 30, 2019 whereby the Company has elected the fair value option under ASC 825 – Financial Instruments. The valuation is based upon quoted prices in active markets and model-based valuation techniques to determine fair value.

Reconciliation of Net Liabilities Classified as Level 3

The following table reconciles the beginning and ending balances of net assets and liabilities classified as Level 3:



	Total
	(in millions)
Balance at September 30, 2018	$	(8	)
Additions	(2		)
Reductions	—
Payments	1
Balance at June 30, 2019	$	(9	)

Guarantor and Non-Guarantor Subsidiaries Financial Information (Tables)

9 Months Ended

Jun. 30, 2019

Condensed Financial Information Disclosure [Abstract]

Schedule of Consolidating Balance Sheet

Consolidating Balance Sheet (Unaudited)

June 30, 2019



	WMG Acquisition Corp. (issuer)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			WMG Acquisition Corp. Consolidated			WMG Holdings Corp.		Warner Music Group Corp.		Eliminations			Warner Music Group Corp. Consolidated
	(in millions)
Assets:
Current assets:
Cash and equivalents	$	—		$	297		$	244		$	—		$	541		$	—	$	—	$	—		$	541
Accounts receivable, net	—			331			413			—			744			—		—		—			744
Inventories	—			13			54			—			67			—		—		—			67
Royalty advances expected to be recouped within one year	—			103			68			—			171			—		—		—			171
Prepaid and other current assets	—			10			47			—			57			—		—		—			57
Total current assets	—			754			826			—			1,580			—		—		—			1,580
Due from (to) parent companies	473			(430		)	(43		)	—			—			—		—		—			—
Investments in and advances to consolidated subsidiaries	2,409			2,394			—			(4,803		)	—			809		809		(1,618		)	—
Royalty advances expected to be recouped after one year	—			126			83			—			209			—		—		—			209
Property, plant and equipment, net	—			195			101			—			296			—		—		—			296
Goodwill	—			1,370			402			—			1,772			—		—		—			1,772
Intangible assets subject to amortization, net	—			902			878			—			1,780			—		—		—			1,780
Intangible assets not subject to amortization	—			71			82			—			153			—		—		—			153
Deferred tax assets, net	—			—			7			—			7			—		—		—			7
Other assets	5			124			29			—			158			—		—		—			158
Total assets	$	2,887		$	5,506		$	2,365		$	(4,803	)	$	5,955		$	809	$	809	$	(1,618	)	$	5,955
Liabilities and Deficit:
Current liabilities:
Accounts payable	$	—		$	127		$	81		$	—		$	208		$	—	$	—	$	—		$	208
Accrued royalties	5			803			769			—			1,577			—		—		—			1,577
Accrued liabilities	—			234			214			—			448			—		—		—			448
Accrued interest	18			—			—			—			18			—		—		—			18
Deferred revenue	—			51			119			—			170			—		—		—			170
Other current liabilities	—			42			81			—			123			—		—		—			123
Total current liabilities	23			1,257			1,264			—			2,544			—		—		—			2,544
Long-term debt	3,006			—			—			—			3,006			—		—		—			3,006
Deferred tax liabilities, net	—			61			175			—			236			—		—		—			236
Other noncurrent liabilities	10			182			110			—			302			—		—		—			302
Total liabilities	3,039			1,500			1,549			—			6,088			—		—		—			6,088
Total Warner Music Group Corp. (deficit) equity	(152		)	4,002			801			(4,803		)	(152		)	809		809		(1,618		)	(152		)
Noncontrolling interest	—			4			15			—			19			—		—		—			19
Total equity	(152		)	4,006			816			(4,803		)	(133		)	809		809		(1,618		)	(133		)
Total liabilities and equity	$	2,887		$	5,506		$	2,365		$	(4,803	)	$	5,955		$	809	$	809	$	(1,618	)	$	5,955

Consolidating Balance Sheet

September 30, 2018



	WMG Acquisition Corp. (issuer)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			WMG Acquisition Corp. Consolidated			WMG Holdings Corp.		Warner Music Group Corp.		Eliminations			Warner Music Group Corp. Consolidated
	(in millions)
Assets:
Current assets:
Cash and equivalents	$	—		$	169		$	345		$	—		$	514		$	—	$	—	$	—		$	514
Accounts receivable, net	—			262			185			—			447			—		—		—			447
Inventories	—			18			24			—			42			—		—		—			42
Royalty advances expected to be recouped within one year	—			79			44			—			123			—		—		—			123
Prepaid and other current assets	—			15			35			—			50			—		—		—			50
Total current assets	—			543			633			—			1,176			—		—		—			1,176
Due from (to) parent companies	488			(214		)	(274		)	—			—			—		—		—			—
Investments in and advances to consolidated subsidiaries	2,018			2,192			—			(4,210		)	—			675		675		(1,350		)	—
Royalty advances expected to be recouped after one year	—			93			60			—			153			—		—		—			153
Property, plant and equipment, net	—			155			74			—			229			—		—		—			229
Goodwill	—			1,370			322			—			1,692			—		—		—			1,692
Intangible assets subject to amortization, net	—			956			895			—			1,851			—		—		—			1,851
Intangible assets not subject to amortization	—			71			83			—			154			—		—		—			154
Deferred tax assets, net	—			—			11			—			11			—		—		—			11
Other assets	12			55			11			—			78			—		—		—			78
Total assets	$	2,518		$	5,221		$	1,815		$	(4,210	)	$	5,344		$	675	$	675	$	(1,350	)	$	5,344
Liabilities and Deficit:
Current liabilities:
Accounts payable	$	—		$	200		$	81		$	—		$	281		$	—	$	—	$	—		$	281
Accrued royalties	—			869			527			—			1,396			—		—		—			1,396
Accrued liabilities	—			195			228			—			423			—		—		—			423
Accrued interest	31			—			—			—			31			—		—		—			31
Deferred revenue	—			94			114			—			208			—		—		—			208
Other current liabilities	—			2			32			—			34			—		—		—			34
Total current liabilities	31			1,360			982			—			2,373			—		—		—			2,373
Long-term debt	2,819			—			—			—			2,819			—		—		—			2,819
Deferred tax liabilities, net	—			3			162			—			165			—		—		—			165
Other noncurrent liabilities	2			197			108			—			307			—		—		—			307
Total liabilities	2,852			1,560			1,252			—			5,664			—		—		—			5,664
Total Warner Music Group Corp. (deficit) equity	(334		)	3,656			554			(4,210		)	(334		)	675		675		(1,350		)	(334		)
Noncontrolling interest	—			5			9			—			14			—		—		—			14
Total equity	(334		)	3,661			563			(4,210		)	(320		)	675		675		(1,350		)	(320		)
Total liabilities and equity	$	2,518		$	5,221		$	1,815		$	(4,210	)	$	5,344		$	675	$	675	$	(1,350	)	$	5,344

Schedule of Consolidating Statement of Operations

Consolidating Statement of Operations (Unaudited)

For The Three Months Ended June 30, 2019



	WMG Acquisition Corp. (issuer)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			WMG Acquisition Corp. Consolidated			WMG Holdings Corp.		Warner Music Group Corp.		Eliminations			Warner Music Group Corp. Consolidated
	(in millions)
Revenue	$	—		$	410		$	760		$	(112	)	$	1,058		$	—	$	—	$	—		$	1,058
Costs and expenses:
Cost of revenue	—			(216		)	(442		)	81			(577		)	—		—		—			(577		)
Selling, general and administrative expenses	—			(198		)	(203		)	29			(372		)	—		—		—			(372		)
Amortization of intangible assets	—			(24		)	(27		)	—			(51		)	—		—		—			(51		)
Total costs and expenses	—			(438		)	(672		)	110			(1,000		)	—		—		—			(1,000		)
Operating income (loss)	—			(28		)	88			(2		)	58			—		—		—			58
Loss on extinguishment of debt	(4		)	—			—			—			(4		)	—		—		—			(4		)
Interest expense, net	(30		)	—			(6		)	—			(36		)	—		—		—			(36		)
Equity gains from equity method investments	43			58			—			(101		)	—			13		13		(26		)	—
Other (expense) income, net	(8		)	37			(45		)	—			(16		)	—		—		—			(16		)
Income before income taxes	1			67			37			(103		)	2			13		13		(26		)	2
Income tax benefit	12			15			9			(24		)	12			—		—		—			12
Net income	13			82			46			(127		)	14			13		13		(26		)	14
Less: income attributable to noncontrolling interest	—			—			(1		)	—			(1		)	—		—		—			(1		)
Net income attributable to Warner Music Group Corp.	$	13		$	82		$	45		$	(127	)	$	13		$	13	$	13	$	(26	)	$	13

Consolidating Statement of Operations (Unaudited)

For Three Months Ended June 30, 2018



	WMG Acquisition Corp. (issuer)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			WMG Acquisition Corp. Consolidated			WMG Holdings Corp.		Warner Music Group Corp.		Eliminations			Warner Music Group Corp. Consolidated
	(in millions)
Revenue	$	—		$	544		$	533		$	(119	)	$	958		$	—	$	—	$	—		$	958
Costs and expenses:
Cost of revenue	—			(261		)	(346		)	76			(531		)	—		—		—			(531		)
Selling, general and administrative expenses	—			(252		)	(133		)	42			(343		)	—		—		—			(343		)
Amortization of intangible assets	—			(23		)	(33		)	—			(56		)	—		—		—			(56		)
Total costs and expenses	—			(536		)	(512		)	118			(930		)	—		—		—			(930		)
Operating income (loss)	—			8			21			(1		)	28			—		—		—			28
Loss on extinguishment of debt	(7		)	—			—			—			(7		)	—		—		—			(7		)
Interest (expense) income, net	(27		)	2			(8		)	—			(33		)	—		—		—			(33		)
Equity gains from equity method investments	39			23			—			(62		)	—			320		320		(640		)	—
Other income (expense), net	376			(1		)	19			—			394			—		—		—			394
Income before income taxes	381			32			32			(63		)	382			320		320		(640		)	382
Income tax (expense) benefit	(61		)	(62		)	7			55			(61		)	—		—		—			(61		)
Net income (loss)	320			(30		)	39			(8		)	321			320		320		(640		)	321
Less: income attributable to noncontrolling interest	—			—			(1		)	—			(1		)	—		—		—			(1		)
Net income (loss) attributable to Warner Music Group Corp.	$	320		$	(30	)	$	38		$	(8	)	$	320		$	320	$	320	$	(640	)	$	320

Consolidating Statement of Operations (Unaudited)

For The Nine Months Ended June 30, 2019



	WMG Acquisition Corp. (issuer)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			WMG Acquisition Corp. Consolidated			WMG Holdings Corp.		Warner Music Group Corp.		Eliminations			Warner Music Group Corp. Consolidated
	(in millions)
Revenue	$	—		$	1,352		$	2,286		$	(287	)	$	3,351		$	—	$	—	$	—		$	3,351
Costs and expenses:
Cost of revenue	—			(653		)	(1,338		)	229			(1,762		)	—		—		—			(1,762		)
Selling, general and administrative expenses	—			(573		)	(586		)	57			(1,102		)	—		—		—			(1,102		)
Amortization of intangible assets	—			(74		)	(86		)	—			(160		)	—		—		—			(160		)
Total costs and expenses	—			(1,300		)	(2,010		)	286			(3,024		)	—		—		—			(3,024		)
Operating income	—			52			276			(1		)	327			—		—		—			327
Loss on extinguishment of debt	(7		)	—			—			—			(7		)	—		—		—			(7		)
Interest (expense) income, net	(92		)	2			(18		)	—			(108		)	—		—		—			(108		)
Equity gains from equity method investments	345			201			—			(546		)	—			166		166		(332		)	—
Other income (expense), net	6			107			(72		)	—			41			—		—		—			41
Income before income taxes	252			362			186			(547		)	253			166		166		(332		)	253
Income tax expense	(86		)	(79		)	(41		)	120			(86		)	—		—		—			(86		)
Net income	166			283			145			(427		)	167			166		166		(332		)	167
Less: income attributable to noncontrolling interest	—			—			(1		)	—			(1		)	—		—		—			(1		)
Net income attributable to Warner Music Group Corp.	$	166		$	283		$	144		$	(427	)	$	166		$	166	$	166	$	(332	)	$	166

Consolidating Statement of Operations (Unaudited)

For The Nine Months Ended June 30, 2018



	WMG Acquisition Corp. (issuer)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			WMG Acquisition Corp. Consolidated			WMG Holdings Corp.		Warner Music Group Corp.		Eliminations			Warner Music Group Corp. Consolidated
	(in millions)
Revenue	$	—		$	1,626		$	1,703		$	(363	)	$	2,966		$	—	$	—	$	—		$	2,966
Costs and expenses:
Cost of revenue	—			(760		)	(1,066		)	238			(1,588		)	—		—		—			(1,588		)
Selling, general and administrative expenses	—			(731		)	(406		)	124			(1,013		)	—		—		—			(1,013		)
Amortization of intangible assets	—			(70		)	(94		)	—			(164		)	—		—		—			(164		)
Total costs and expenses	—			(1,561		)	(1,566		)	362			(2,765		)	—		—		—			(2,765		)
Operating income	—			65			137			(1		)	201			—		—		—			201
Loss on extinguishment of debt	(31		)	—			—			—			(31		)	—		—		—			(31		)
Interest (expense) income, net	(87		)	3			(21		)	—			(105		)	—		—		—			(105		)
Equity gains from equity method investments	195			99			—			(294		)	—			321		321		(642		)	—
Other income, net	376			8			8			—			392			—		—		—			392
Income before income taxes	453			175			124			(295		)	457			321		321		(642		)	457
Income tax expense	(132		)	(131		)	(21		)	152			(132		)	—		—		—			(132		)
Net income	321			44			103			(143		)	325			321		321		(642		)	325
Less: income attributable to noncontrolling interest	—			(1		)	(3		)	—			(4		)	—		—		—			(4		)
Net income attributable to Warner Music Group Corp.	$	321		$	43		$	100		$	(143	)	$	321		$	321	$	321	$	(642	)	$	321

Schedule of Consolidating Statement of Comprehensive Income

Consolidating Statement of Comprehensive Income (Unaudited)

For The Three Months Ended June 30, 2019



	WMG Acquisition Corp. (issuer)			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			WMG Acquisition Corp. Consolidated			WMG Holdings Corp.			Warner Music Group Corp.			Eliminations			Warner Music Group Corp. Consolidated
	(in millions)
Net income	$	13		$	82	$	46		$	(127	)	$	14		$	13		$	13		$	(26	)	$	14
Other comprehensive income (loss), net of tax:
Foreign currency adjustment	9			—		(9		)	9			9			10			10			(20		)	9
Deferred (loss) gains on derivatives	(3		)	—		1			(1		)	(3		)	(3		)	(3		)	6			(3		)
Other comprehensive income (loss), net of tax:	6			—		(8		)	8			6			7			7			(14		)	6
Total comprehensive income	19			82		38			(119		)	20			20			20			(40		)	20
Less: income attributable to noncontrolling interest	—			—		(1		)	—			(1		)	—			—			—			(1		)
Comprehensive income attributable to Warner Music Group Corp.	$	19		$	82	$	37		$	(119	)	$	19		$	20		$	20		$	(40	)	$	19

Consolidating Statement of Comprehensive Income (Unaudited)

For The Three Months Ended June 30, 2018



	WMG Acquisition Corp. (issuer)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			WMG Acquisition Corp. Consolidated			WMG Holdings Corp.			Warner Music Group Corp.			Eliminations			Warner Music Group Corp. Consolidated
	(in millions)
Net income (loss)	$	320		$	(30	)	$	39		$	(8	)	$	321		$	320		$	320		$	(640	)	$	321
Other comprehensive (loss) income, net of tax:
Foreign currency adjustment	(31		)	—			31			(31		)	(31		)	(31		)	(31		)	62			(31		)
Deferred loss on derivatives	(3		)	—			—			—			(3		)	(3		)	(3		)	6			(3		)
Other comprehensive (loss) income, net of tax:	(34		)	—			31			(31		)	(34		)	(34		)	(34		)	68			(34		)
Total comprehensive income (loss)	286			(30		)	70			(39		)	287			286			286			(572		)	287
Less: income attributable to noncontrolling interest	—			—			(1		)	—			(1		)	—			—			—			(1		)
Comprehensive income (loss) attributable to Warner Music Group Corp.	$	286		$	(30	)	$	69		$	(39	)	$	286		$	286		$	286		$	(572	)	$	286

Consolidating Statement of Comprehensive Income (Unaudited)

For The Nine Months Ended June 30, 2019



	WMG Acquisition Corp. (issuer)			Guarantor Subsidiaries		Non- Guarantor Subsidiaries			Eliminations			WMG Acquisition Corp. Consolidated			WMG Holdings Corp.			Warner Music Group Corp.			Eliminations			Warner Music Group Corp. Consolidated
	(in millions)
Net income	$	166		$	283	$	145		$	(427	)	$	167		$	166		$	166		$	(332	)	$	167
Other comprehensive (loss) income, net of tax:
Foreign currency adjustment	(17		)	—		17			(17		)	(17		)	(19		)	(19		)	38			(17		)
Deferred loss on derivatives	(12		)	—		(1		)	1			(12		)	(12		)	(12		)	24			(12		)
Other comprehensive (loss) income, net of tax:	(29		)	—		16			(16		)	(29		)	(31		)	(31		)	62			(29		)
Total comprehensive income	137			283		161			(443		)	138			135			135			(270		)	138
Less: income attributable to noncontrolling interest	—			—		(1		)	—			(1		)	—			—			—			(1		)
Comprehensive income attributable to Warner Music Group Corp.	$	137		$	283	$	160		$	(443	)	$	137		$	135		$	135		$	(270	)	$	137

Consolidating Statement of Comprehensive Income (Unaudited)

For The Nine Months Ended June 30, 2018



	WMG Acquisition Corp. (issuer)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			WMG Acquisition Corp. Consolidated			WMG Holdings Corp.			Warner Music Group Corp.			Eliminations			Warner Music Group Corp. Consolidated
	(in millions)
Net income	$	321		$	44		$	103		$	(143	)	$	325		$	321		$	321		$	(642	)	$	325
Other comprehensive (loss) income, net of tax:
Foreign currency adjustment	(13		)	—			13			(13		)	(13		)	(13		)	(13		)	26			(13		)
Deferred loss on derivatives	(1		)	—			—			—			(1		)	(1		)	(1		)	2			(1		)
Other comprehensive (loss) income, net of tax:	(14		)	—			13			(13		)	(14		)	(14		)	(14		)	28			(14		)
Total comprehensive income	307			44			116			(156		)	311			307			307			(614		)	311
Less: income attributable to noncontrolling interest	—			(1		)	(3		)	—			(4		)	—			—			—			(4		)
Comprehensive income attributable to Warner Music Group Corp.	$	307		$	43		$	113		$	(156	)	$	307		$	307		$	307		$	(614	)	$	307

Schedule of Consolidating Statement of Cash Flows

Consolidating Statement of Cash Flows (Unaudited)

For The Nine Months Ended June 30, 2019



	WMG Acquisition Corp. (issuer)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			WMG Acquisition Corp. Consolidated			WMG Holdings Corp.			Warner Music Group Corp.			Eliminations			Warner Music Group Corp. Consolidated
	(in millions)
Cash flows from operating activities
Net income	$	166		$	283		$	145		$	(427	)	$	167		$	166		$	166		$	(332	)	$	167
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	—			103			100			—			203			—			—			—			203
Unrealized gains and remeasurement of foreign denominated loans	(5		)	(1		)	—			—			(6		)	—			—			—			(6		)
Deferred income taxes	—			—			25						25												25
Loss on extinguishment of debt	7			—			—			—			7			—			—			—			7
Net gain on investments	—			(25		)	(2		)	—			(27		)	—			—			—			(27		)
Non-cash interest expense	5			—			—			—			5			—			—			—			5
Equity-based compensation expense	—			28			—			—			28			—			—			—			28
Equity gains, including distributions	(345		)	(201		)	—			546			—			(166		)	(166		)	332			—
Changes in operating assets and liabilities:
Accounts receivable, net	—			11			(61		)	—			(50		)	—			—			—			(50		)
Inventories	—			5			7			—			12			—			—			—			12
Royalty advances	—			(57		)	(50		)	—			(107		)	—			—			—			(107		)
Accounts payable and accrued liabilities	—			239			(214		)	(119		)	(94		)	—			—			—			(94		)
Royalty payables	5			(82		)	194			—			117			—			—			—			117
Accrued interest	(13		)	—			—			—			(13		)	—			—			—			(13		)
Deferred revenue	—			(45		)	28			—			(17		)	—			—			—			(17		)
Other balance sheet changes	3			54			(58		)	—			(1		)	—			—			—			(1		)
Net cash (used in) provided by operating activities	(177		)	312			114			—			249			—			—			—			249
Cash flows from investing activities
Acquisition of music publishing rights, net	—			(19		)	(5		)	—			(24		)	—			—			—			(24		)
Capital expenditures	—			(70		)	(12		)	—			(82		)	—			—			—			(82		)
Investments and acquisitions of businesses, net	—			(40		)	(194		)	—			(234		)	—			—			—			(234		)
Advances from issuer	(8		)	—			—			8			—			—			—			—			—
Net cash used in investing activities	(8		)	(129		)	(211		)	8			(340		)	—			—			—			(340		)
Cash flows from financing activities
Proceeds from issuance of Acquisition Corp. 3.625% Sr Secured Notes due 2026	514			—			—			—			514			—			—			—			514
Repayment of Acquisition Corp. 4.125% Senior Secured Notes	(40		)	—			—			—			(40		)	—			—			—			(40		)
Repayment of Acquisition Corp. 4.875% Senior Secured Notes	(30		)	—			—			—			(30		)	—			—			—			(30		)
Repayment of Acquisition Corp. 5.625% Senior Secured Notes	(247		)	—			—			—			(247		)	—			—			—			(247		)
Call premiums paid and deposit on early redemption of debt	(5		)	—			—			—			(5		)	—			—			—			(5		)
Deferred financing costs paid	(7		)	—			—			—			(7		)	—			—			—			(7		)
Distribution to noncontrolling interest holder	—			—			(3		)	—			(3		)	—			—			—			(3		)
Dividends paid	—			(63		)	—			—			(63		)	—			—			—			(63		)
Change in due to (from) issuer	—			8			—			(8		)	—			—			—			—			—
Net cash provided by (used in) financing activities	185			(55		)	(3		)	(8		)	119			—			—			—			119
Effect of exchange rate changes on cash and equivalents	—			—			(1		)	—			(1		)	—			—			—			(1		)
Net increase (decrease) in cash and equivalents	—			128			(101		)	—			27			—			—			—			27
Cash and equivalents at beginning of period	—			169			345			—			514			—			—			—			514
Cash and equivalents at end of period	$	—		$	297		$	244		$	—		$	541		$	—		$	—		$	—		$	541

Consolidating Statement of Cash Flows (Unaudited)

For The Nine Months Ended June 30, 2018



	WMG Acquisition Corp. (issuer)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			WMG Acquisition Corp. Consolidated			WMG Holdings Corp.			Warner Music Group Corp.			Eliminations			Warner Music Group Corp. Consolidated
	(in millions)
Cash flows from operating activities
Net income	$	321		$	44		$	103		$	(143	)	$	325		$	321		$	321		$	(642	)	$	325
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	—			101			104			—			205			—			—			—			205
Unrealized (gains) losses and remeasurement of foreign denominated loans	(5		)	(3		)	2			—			(6		)	—			—			—			(6		)
Deferred income taxes	—			—			105			—			105			—			—			—			105
Loss on extinguishment of debt	31			—			—			—			31			—			—			—			31
Net (gain) loss on divestitures and investments	(503		)	84			34			—			(385		)	—			—			—			(385		)
Non-cash interest expense	5			—			—			—			5			—			—			—			5
Equity-based compensation expense	—			52			—			—			52			—			—			—			52
Equity gains, including distributions	(195		)	(99		)	—			294			—			(321		)	(321		)	642			—
Changes in operating assets and liabilities:
Accounts receivable, net	—			(39		)	(4		)	—			(43		)	—			—			—			(43		)
Inventories	—			(5		)	4			—			(1		)	—			—			—			(1		)
Accounts payable and accrued liabilities	—			256			(189		)	(151		)	(84		)	—			—			—			(84		)
Royalty payables	—			32			81			—			113			—			—			—			113
Accrued interest	(22		)	—			—			—			(22		)	—			—			—			(22		)
Deferred revenue	—			30			(30		)	—			—			—			—			—			—
Other balance sheet changes	(3		)	82			(109		)	—			(30		)	—			—			—			(30		)
Net cash (used in) provided by operating activities	(371		)	535			101			—			265			—			—			—			265
Cash flows from investing activities
Acquisition of music publishing rights, net	—			(7		)	(4		)	—			(11		)	—			—			—			(11		)
Capital expenditures	—			(30		)	(10		)	—			(40		)	—			—			—			(40		)
Investments and acquisitions of businesses, net	—			(14		)	—			—			(14		)	—			—			—			(14		)
Proceeds from the sale of investments	504			12			—			—			516			—			—			—			516
Advances from issuer	(108		)	—			—			108			—			—			—			—			—
Net cash provided by (used in) investing activities	396			(39		)	(14		)	108			451			—			—			—			451
Cash flows from financing activities
Proceeds from issuance of Acquisition Corp. 5.50% Senior Notes	325			—			—			—			325			—			—			—			325
Proceeds from supplement of Acquisition Corp. Senior Term Loan Facility	320			—			—			—			320			—			—			—			320
Repayment of redemption deposit for Acquisition Corp. 6.75% Senior Notes	(635		)	—			—			—			(635		)	—			—			—			(635		)
Call premiums paid on and redemption deposit for early redemption of debt	(23		)	—			—			—			(23		)	—			—			—			(23		)
Deferred financing costs paid	(12		)	—			—			—			(12		)	—			—			—			(12		)
Distribution to noncontrolling interest holder	—			—			(3		)	—			(3		)	—			—			—			(3		)
Dividends paid	—			(397		)	(28		)	—			(425		)	—			—			—			(425		)
Change in due to (from) issuer	—			108			—			(108		)	—			—			—			—			—
Net cash used in financing activities	(25		)	(289		)	(31		)	(108		)	(453		)	—			—			—			(453		)
Effect of exchange rate changes on cash and equivalents	—			—			(5		)	—			(5		)	—			—			—			(5		)
Net increase in cash and equivalents	—			207			51			—			258			—			—			—			258
Cash and equivalents at beginning of period	—			347			300			—			647			—			—			—			647
Cash and equivalents at end of period	$	—		$	554		$	351		$	—		$	905		$	—		$	—		$	—		$	905

Description of Business - Additional Information (Detail)	9 Months Ended
	Jun. 30, 2019 musical_composition country songwriter
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of countries in which Recorded Music activity conducted \| country	50
Minimum number of musical compositions on which Company owns or controls rights \| musical_composition	1,000,000
Number of songwriters and composers \| songwriter	70,000

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2019	Oct. 01, 2018	Sep. 30, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accumulated deficit	$ (1,061)		$ (1,272)
Topic 606
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accumulated deficit		$ (1,133)
Reclassified from accounts receivable to other current liabilities		28
Impact of Adoption \| Topic 606
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accumulated deficit	$ 160	$ 139

Summary of Significant Accounting Policies - Schedule of Cumulative Effect of Changes to Opening Balance Sheet from Adoption of ASC 606 (Detail) - USD ($) $ in Millions	Jun. 30, 2019	Mar. 31, 2019	Oct. 01, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2017
Assets
Accounts receivable, net	$ 744			$ 447
Total current assets	1,580			1,176
Other assets	158			78
Total assets	5,955			5,344
Liabilities and Equity
Accrued royalties	1,577			1,396
Accrued liabilities	448			423
Deferred revenue	170			208
Other current liabilities	123			34
Total current liabilities	2,544			2,373
Deferred tax liabilities, net	236			165
Other noncurrent liabilities	302			307
Total liabilities	6,088			5,664
Equity:
Accumulated deficit	(1,061)			(1,272)
Noncontrolling interest	19			14
Total equity	(133)	$ (120)		(320)	$ 191	$ 205	$ 308
Total liabilities and equity	5,955			$ 5,344
Topic 606
Assets
Accounts receivable, net			$ 704
Total current assets			1,433
Other assets			93
Total assets			5,616
Liabilities and Equity
Accrued royalties			1,475
Accrued liabilities			422
Deferred revenue			181
Other current liabilities			67
Total current liabilities			2,457
Deferred tax liabilities, net			202
Other noncurrent liabilities			308
Total liabilities			5,786
Equity:
Accumulated deficit			(1,133)
Noncontrolling interest			25
Total equity			(170)
Total liabilities and equity			5,616
Impact of Adoption \| Topic 606
Assets
Accounts receivable, net	279		257
Total current assets	279		257
Other assets	15		15
Total assets	294		272
Liabilities and Equity
Accrued royalties	76		79
Accrued liabilities	(1)		(1)
Deferred revenue	(29)		(27)
Other current liabilities	28		33
Total current liabilities	73		84
Deferred tax liabilities, net	47		37
Other noncurrent liabilities	4		1
Total liabilities	124		122
Equity:
Accumulated deficit	160		139
Noncontrolling interest	10		11
Total equity	170		150
Total liabilities and equity	$ 294		$ 272

Summary of Significant Accounting Policies - Schedule of Impact of Adoption on Consolidated Statement of Operations (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue	$ 1,058	$ 958	$ 3,351	$ 2,966
Costs and expenses:
Cost of revenue	(577)	(531)	(1,762)	(1,588)
Operating income	58	28	327	201
Income before income taxes	2	382	253	457
Income tax benefit (expense)	12	(61)	(86)	(132)
Net income	14	321	167	325
Less: Income attributable to noncontrolling interest	(1)	(1)	(1)	(4)
Net income attributable to Warner Music Group Corp.	13	$ 320	166	$ 321
Balances Without Adoption Of ASC 606 \| Topic 606
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue	1,057		3,322
Costs and expenses:
Cost of revenue	(558)		(1,765)
Operating income	76		295
Income before income taxes	20		221
Income tax benefit (expense)	17		(75)
Net income	37		146
Less: Income attributable to noncontrolling interest	0		(3)
Net income attributable to Warner Music Group Corp.	37		143
Impact of Adoption \| Topic 606
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue	1		29
Costs and expenses:
Cost of revenue	(19)		3
Operating income	(18)		32
Income before income taxes	(18)		32
Income tax benefit (expense)	(5)		(11)
Net income	(23)		21
Less: Income attributable to noncontrolling interest	(1)		2
Net income attributable to Warner Music Group Corp.	$ (24)		$ 23

Summary of Significant Accounting Policies - Schedule of Impact of Adoption on Consolidated Statement of Balance Sheet (Detail) - USD ($) $ in Millions	Jun. 30, 2019	Mar. 31, 2019	Oct. 01, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2017
Assets
Accounts receivable, net	$ 744			$ 447
Total current assets	1,580			1,176
Other assets	158			78
Deferred tax assets, net	7			11
Total assets	5,955			5,344
Liabilities and Equity
Accounts payable	208			281
Accrued royalties	1,577			1,396
Accrued liabilities	448			423
Deferred revenue	170			208
Other current liabilities	123			34
Total current liabilities	2,544			2,373
Deferred tax liabilities, net	236			165
Other noncurrent liabilities	302			307
Total liabilities	6,088			5,664
Equity:
Accumulated deficit	(1,061)			(1,272)
Noncontrolling interest	19			14
Total equity	(133)	$ (120)		(320)	$ 191	$ 205	$ 308
Total liabilities and equity	5,955			$ 5,344
Topic 606
Assets
Accounts receivable, net			$ 704
Total current assets			1,433
Other assets			93
Total assets			5,616
Liabilities and Equity
Accrued royalties			1,475
Accrued liabilities			422
Deferred revenue			181
Other current liabilities			67
Total current liabilities			2,457
Deferred tax liabilities, net			202
Other noncurrent liabilities			308
Total liabilities			5,786
Equity:
Accumulated deficit			(1,133)
Noncontrolling interest			25
Total equity			(170)
Total liabilities and equity			5,616
Balances Without Adoption Of ASC 606 \| Topic 606
Assets
Accounts receivable, net	465
Total current assets	1,301
Other assets	143
Deferred tax assets, net	7
Total assets	5,661
Liabilities and Equity
Accounts payable	209
Accrued royalties	1,501
Accrued liabilities	449
Deferred revenue	199
Other current liabilities	95
Total current liabilities	2,471
Deferred tax liabilities, net	189
Other noncurrent liabilities	298
Total liabilities	5,964
Equity:
Accumulated deficit	(1,221)
Noncontrolling interest	9
Total equity	(303)
Total liabilities and equity	5,661
Impact of Adoption \| Topic 606
Assets
Accounts receivable, net	279		257
Total current assets	279		257
Other assets	15		15
Deferred tax assets, net	0
Total assets	294		272
Liabilities and Equity
Accounts payable	(1)
Accrued royalties	76		79
Accrued liabilities	(1)		(1)
Deferred revenue	(29)		(27)
Other current liabilities	28		33
Total current liabilities	73		84
Deferred tax liabilities, net	47		37
Other noncurrent liabilities	4		1
Total liabilities	124		122
Equity:
Accumulated deficit	160		139
Noncontrolling interest	10		11
Total equity	170		150
Total liabilities and equity	$ 294		$ 272

Summary of Significant Accounting Policies - Schedule of Impact of Adoption on Consolidated Statement of Cash Flows (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities
Net income	$ 14	$ 321	$ 167	$ 325
Deferred income taxes			25	105
Changes in operating assets and liabilities:
Accounts receivable, net			(50)	(43)
Accounts payable and accrued liabilities			(94)	(84)
Royalty advances			(107)	0
Deferred revenue			(17)	0
Other balance sheet changes			(1)	(30)
Net cash provided by operating activities			249	265
Effect of exchange rate changes on cash and equivalents			(1)	(5)
Net decrease in cash and equivalents			27	258
Cash and equivalents at beginning of period			514	647
Cash and equivalents at end of period	541	$ 905	541	$ 905
Balances Without Adoption Of ASC 606 \| Topic 606
Cash flows from operating activities
Net income	37		146
Deferred income taxes			15
Changes in operating assets and liabilities:
Accounts receivable, net			(28)
Accounts payable and accrued liabilities			(96)
Royalty advances			(104)
Deferred revenue			(15)
Other balance sheet changes			5
Net cash provided by operating activities			249
Effect of exchange rate changes on cash and equivalents			(1)
Net decrease in cash and equivalents			27
Cash and equivalents at beginning of period			514
Cash and equivalents at end of period	541		541
Impact of Adoption \| Topic 606
Cash flows from operating activities
Net income	(23)		21
Deferred income taxes			10
Changes in operating assets and liabilities:
Accounts receivable, net			(22)
Accounts payable and accrued liabilities			2
Royalty advances			(3)
Deferred revenue			(2)
Other balance sheet changes			(6)
Net cash provided by operating activities			0
Effect of exchange rate changes on cash and equivalents			0
Net decrease in cash and equivalents			0
Cash and equivalents at beginning of period			0
Cash and equivalents at end of period	$ 0		$ 0

Revenue Recognition - Summary of Disaggregation of Revenue (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Total Revenue	$ 1,058	$ 958	$ 3,351	$ 2,966
Amount of change in revenue	$ 100		$ 385
Percentage of change in revenue	10.00%		13.00%
Intersegment Eliminations
Disaggregation of Revenue [Line Items]
Total Revenue	$ (2)	(3)	$ (6)	(7)
Amount of change in revenue	$ 1		$ 1
Percentage of change in revenue	(33.00%)		(14.00%)
Operating Segments \| U.S.
Disaggregation of Revenue [Line Items]
Total Revenue	$ 466	425	$ 1,455	1,281
Amount of change in revenue	$ 41		$ 174
Percentage of change in revenue	10.00%		14.00%
Operating Segments \| International
Disaggregation of Revenue [Line Items]
Total Revenue	$ 594	536	$ 1,902	1,692
Amount of change in revenue	$ 58		$ 210
Percentage of change in revenue	11.00%		12.00%
Recorded Music
Disaggregation of Revenue [Line Items]
Total Revenue	$ 913	802	$ 2,887	2,497
Amount of change in revenue	$ 111		$ 390
Percentage of change in revenue	14.00%		16.00%
Recorded Music \| Operating Segments \| U.S.
Disaggregation of Revenue [Line Items]
Total Revenue	$ 395	356	$ 1,236	1,061
Amount of change in revenue	$ 39		$ 175
Percentage of change in revenue	11.00%		16.00%
Recorded Music \| Operating Segments \| International
Disaggregation of Revenue [Line Items]
Total Revenue	$ 518	446	$ 1,651	1,436
Amount of change in revenue	$ 72		$ 215
Percentage of change in revenue	16.00%		15.00%
Recorded Music \| Digital
Disaggregation of Revenue [Line Items]
Total Revenue	$ 584	519	$ 1,744	1,491
Amount of change in revenue	$ 65		$ 253
Percentage of change in revenue	13.00%		17.00%
Recorded Music \| Physical
Disaggregation of Revenue [Line Items]
Total Revenue	$ 95	130	$ 456	500
Amount of change in revenue	$ (35)		$ (44)
Percentage of change in revenue	(27.00%)		(9.00%)
Recorded Music \| Total Digital and Physical
Disaggregation of Revenue [Line Items]
Total Revenue	$ 679	649	$ 2,200	1,991
Amount of change in revenue	$ 30		$ 209
Percentage of change in revenue	5.00%		10.00%
Recorded Music \| Artist Services and Expanded-Rights
Disaggregation of Revenue [Line Items]
Total Revenue	$ 158	85	$ 458	264
Amount of change in revenue	$ 73		$ 194
Percentage of change in revenue	86.00%		73.00%
Recorded Music \| Licensing
Disaggregation of Revenue [Line Items]
Total Revenue	$ 76	68	$ 229	242
Amount of change in revenue	$ 8		$ (13)
Percentage of change in revenue	12.00%		(5.00%)
Music Publishing
Disaggregation of Revenue [Line Items]
Total Revenue	$ 147	159	$ 470	476
Amount of change in revenue	$ (12)		$ (6)
Percentage of change in revenue	(8.00%)		(1.00%)
Music Publishing \| Operating Segments \| U.S.
Disaggregation of Revenue [Line Items]
Total Revenue	$ 71	69	$ 219	220
Amount of change in revenue	$ 2		$ (1)
Percentage of change in revenue	3.00%		0.00%
Music Publishing \| Operating Segments \| International
Disaggregation of Revenue [Line Items]
Total Revenue	$ 76	90	$ 251	256
Amount of change in revenue	$ (14)		$ (5)
Percentage of change in revenue	(16.00%)		(2.00%)
Music Publishing \| Performance
Disaggregation of Revenue [Line Items]
Total Revenue	$ 36	51	$ 135	153
Amount of change in revenue	$ (15)		$ (18)
Percentage of change in revenue	(29.00%)		(12.00%)
Music Publishing \| Digital
Disaggregation of Revenue [Line Items]
Total Revenue	$ 65	59	$ 195	169
Amount of change in revenue	$ 6		$ 26
Percentage of change in revenue	10.00%		15.00%
Music Publishing \| Mechanical
Disaggregation of Revenue [Line Items]
Total Revenue	$ 13	17	$ 41	55
Amount of change in revenue	$ (4)		$ (14)
Percentage of change in revenue	(24.00%)		(25.00%)
Music Publishing \| Synchronization
Disaggregation of Revenue [Line Items]
Total Revenue	$ 29	28	$ 89	90
Amount of change in revenue	$ 1		$ (1)
Percentage of change in revenue	4.00%		(1.00%)
Music Publishing \| Other
Disaggregation of Revenue [Line Items]
Total Revenue	$ 4	$ 4	$ 10	$ 9
Amount of change in revenue	$ 0		$ 1
Percentage of change in revenue	0.00%		11.00%

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
Refund liabilities	$ 25	$ 25	$ 28
Uncollectible accounts, reserves	21	21	$ 17
Deferred revenue increased related to cash received from customers		247
Revenue recognized related to deferred revenue		142
Revenue recognized from performance obligations satisfied in previous periods	$ 10	$ 45

Revenue Recognition - Summary of Revenues Expected to be Recognized in Future Related to Performance Obligations (Detail) $ in Millions	Jun. 30, 2019 USD ($)
Revenue from Contract with Customer [Abstract]
Remaining performance obligations	$ 290
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2019-07-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligations	$ 51
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2019-10-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligations	$ 138
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2020-10-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligations	$ 94
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-10-01
Revenue from Contract with Customer [Abstract]
Remaining performance obligations	$ 7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period

Acquisition of EMP - Additional Information (Detail) € in Millions, $ in Millions			3 Months Ended		9 Months Ended
	Oct. 10, 2018 USD ($)	Oct. 10, 2018 EUR (€)	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)
Business Acquisition [Line Items]
Benefit to amortization			$ 2
Revenues			1,058	$ 958	$ 3,351	$ 2,966
Operating income			58	$ 28	327	$ 201
EMP
Business Acquisition [Line Items]
Revenues			59		186
Operating income			$ 4		$ 8
EMP
Business Acquisition [Line Items]
Purchase and Sale Agreement Date	Sep. 11, 2018	Sep. 11, 2018
Purchase price of selected assets \| €		€ 166
Agreed enterprise value for certain shares acquired	$ 180	155
Final purchase price	$ 190	€ 165

Acquisition of EMP - Schedule of Estimated Fair Values of the Assets Acquired and Liabilities Assumed (Detail) € in Millions, $ in Millions	Oct. 10, 2018 USD ($)	Oct. 10, 2018 EUR (€)	Jun. 30, 2019 USD ($)	Sep. 30, 2018 USD ($)
Fair value of assets acquired and liabilities assumed
Goodwill recorded			$ 1,772	$ 1,692
EMP
Business Acquisition [Line Items]
Purchase Price	$ 180	€ 155
Working Capital \| €		10
Final Purchase Price	$ 190	€ 165
Foreign Currency Rate at October 10, 2018	1.15
Fair value of assets acquired and liabilities assumed
Cash and equivalents	$ 7
Accounts receivable, net	3
Inventories	37
Other current assets	5
Property plant and equipment	32
Intangible assets	81
Accounts payable	(18)
Other current liabilities	(11)
Deferred revenue	(7)
Deferred tax liabilities	(25)
Other noncurrent liabilities	(3)
Fair value of assets acquired and liabilities assumed	101
Goodwill recorded	89
Total purchase price allocated	$ 190

Acquisition of EMP - Schedule of Pro Forma Financial Information (Detail) - EMP - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Business Acquisition [Line Items]
Revenue	$ 1,058	$ 1,011	$ 3,356	$ 3,153
Operating income	58	29	327	201
Net income attributable to Warner Music Group	$ 13	$ 321	$ 166	$ 320

Comprehensive Income - Additional Information (Detail) $ in Millions	9 Months Ended
	Jun. 30, 2019 USD ($)
Maximum
Accumulated Other Comprehensive Income (Loss) [Line Items]
Changes in accumulated other comprehensive loss, net of related taxes	$ 1

Comprehensive Income - Schedule of Accumulated Other Comprehensive Loss (Detail)
$ in Millions

9 Months Ended

Jun. 30, 2019

USD ($)

AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]

$ (320)

Foreign Currency Translation Loss

(133)

AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]

(184)

^[1]

(17)

^[1]

Minimum Pension Liability Adjustment

(201)

^[1]

AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]

(9)

Deferred Losses On Derivative Financial Instruments

(9)

AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]

(12)

Accumulated Other Comprehensive Loss, net

(9)

AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]

(190)

(29)

$ (219)

[1]	Includes historical foreign currency translation related to certain intra-entity transactions.

Goodwill and Intangible Assets - Changes in Goodwill for Each Reportable Segment (Detail)
$ in Millions

9 Months Ended

Jun. 30, 2019

USD ($)

Goodwill [Roll Forward]

$ 1,692

^[1]

(9)

^[2]

1,772

Recorded Music

Goodwill [Roll Forward]

1,228

^[1]

(9)

^[2]

5.625% Senior Secured Notes due 2022

1,308

Music Publishing

Goodwill [Roll Forward]

464

$ 464

[1]	Relates to the acquisition of EMP during the nine months ended June 30, 2019.
[2]	Other adjustments during the nine months ended June 30, 2019 represent foreign currency movements.

Goodwill and Intangible Assets - Schedule of Intangible Assets (Detail) - USD ($) $ in Millions	9 Months Ended
	Jun. 30, 2019	Sep. 30, 2018
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Total gross intangible asset subject to amortization	$ 3,379	$ 3,312
Accumulated amortization	(1,599)	(1,461)
Total net intangible assets subject to amortization	1,780	1,851
Intangible assets not subject to amortization	153	154
Total net intangible assets	1,933	2,005
Disposal of intangible assets	7
Trademarks and tradenames
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Intangible assets not subject to amortization	$ 153	154
Recorded music catalog
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Intangible assets, Useful Life	10 years
Total gross intangible asset subject to amortization	$ 861	870
Music publishing copyrights
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Intangible assets, Useful Life	26 years
Total gross intangible asset subject to amortization	$ 1,555	1,540
Artist and songwriter contracts
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Intangible assets, Useful Life	13 years
Total gross intangible asset subject to amortization	$ 853	864
Trademarks
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Intangible assets, Useful Life	18 years
Total gross intangible asset subject to amortization	$ 52	12
Other Intangible Assets
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Intangible assets, Useful Life	7 years
Total gross intangible asset subject to amortization	$ 58	$ 26

Debt - Long-term Debt (Detail) - USD ($)
$ in Millions

9 Months Ended

Nov. 05, 2018

Oct. 12, 2018

Oct. 09, 2018

Mar. 14, 2018

Jun. 30, 2019

May 16, 2019

Apr. 30, 2019

Sep. 30, 2018

Jun. 30, 2018

4.875% Senior Secured Notes due 2024

5.625%

4.875%

Acquisition Corp.

Acquisition Corp. | Revolving Credit Facility

^[1]

$ 3,006

$ 2,819

Acquisition Corp. | Senior Term Loan Facility due 2023

^[2]

Acquisition Corp. | 5.625% Senior Secured Notes due 2022

^[3]

1,313

1,310

$ 0

^[4]

$ 221

246

^[4]

5.625%

Acquisition Corp. | 5.000% Senior Secured Notes due 2023

2022

^[5]

$ 298

297

5.00%

Acquisition Corp. | 4.125% Senior Secured Notes due 2024

2023

^[6]

$ 349

399

4.125%

Acquisition Corp. | 4.875% Senior Secured Notes due 2024

2024

^[7]

$ 218

247

4.875%

Acquisition Corp. | 3.625% Senior Secured Notes due 2026

2024

^[8]

$ 507

3.625%

Acquisition Corp. | 5.500% Senior Notes due 2026

2026

^[9]

$ 321

$ 320

5.50%

2026

[1]	Principal amount of debt of $3.030 billion and $2.851 billion, an additional issuance premium of $8 million and nil, less unamortized discount of $3 million and $4 million and unamortized deferred financing costs of $29 million and $28 million at June 30, 2019 and September 30, 2018, respectively.
[2]	Reflects $180 million of commitments under the Revolving Credit Facility available at both June 30, 2019 and September 30, 2018, less letters of credit outstanding of approximately $13 million at June 30, 2019 and $8 million at September 30, 2018. There were no loans outstanding under the Revolving Credit Facility at June 30, 2019 or September 30, 2018.
[3]	Principal amount of $1.326 billion less unamortized discount of $3 million and unamortized deferred financing costs of $10 million and $12 million at June 30, 2019 and September 30, 2018, respectively.
[4]	On May 16, 2019, Acquisition Corp. redeemed the remaining $221 million of its outstanding 5.625% Senior Notes due 2022. The Company recorded a loss on extinguishment of debt of approximately $4 million as a result of the debt redemption, which represents the premium paid on early redemption and unamortized deferred financing costs.
[5]	Principal amount of $300 million less unamortized deferred financing costs of $2 million at both June 30, 2019 and September 30, 2018.
[6]	Face amount of €311 million and €345 million at June 30, 2019 and September 30, 2018 respectively. Above amounts represent the dollar equivalent of such note at June 30, 2019 and September 30, 2018. Principal amount of $353 million and $402 million at June 30, 2019 and September 30, 2018, respectively, less unamortized deferred financing costs of $4 million and $3 million at June 30, 2019 and September 30, 2018, respectively.
[7]	Principal amount of $220 million and $250 million less unamortized deferred financing costs of $2 million and $3 million at June 30, 2019 and September 30, 2018, respectively.
[8]	Face amount of €445 million at June 30, 2019. Above amounts represent the dollar equivalent of such note at June 30, 2019. Principal amount of $506 million, an additional issuance premium of $8 million, less unamortized deferred financing costs of $7 million at June 30, 2019.
[9]	Principal amount of $325 million and $325 million less unamortized deferred financing costs of $4 million and $5 million at June 30, 2019 and September 30, 2018, respectively.

Debt - Long-term Debt Footnote (Detail)

3 Months Ended

9 Months Ended

Nov. 05, 2018

USD ($)

Oct. 12, 2018

USD ($)

Jun. 30, 2019

USD ($)

Jun. 30, 2018

USD ($)

Jun. 30, 2019

USD ($)

Jun. 30, 2018

USD ($)

Jun. 30, 2019

EUR (€)

May 16, 2019

USD ($)

Apr. 30, 2019

Oct. 09, 2018

USD ($)

Sep. 30, 2018

USD ($)

Sep. 30, 2018

EUR (€)

Mar. 14, 2018

USD ($)

$ 4,000,000

$ 7,000,000

$ 31,000,000

Acquisition Corp.

3,030,000,000

$ 2,851,000,000

Unamortized discount

3,000,000

4,000,000

29,000,000

28,000,000

Unamortized premium

Acquisition Corp. | Revolving Credit Facility

^[1]

3,006,000,000

2,819,000,000

Commitments under revolving credit facility

180,000,000

Letters of credit outstanding

13,000,000

8,000,000

Revolving credit facility outstanding

Senior Term Loan Facility due 2023 | Acquisition Corp.

^[2]

1,326,000,000

Unamortized discount

3,000,000

10,000,000

12,000,000

5.625% Senior Secured Notes due 2022

^[3]

$ 1,313,000,000

1,310,000,000

5.625% Senior Secured Notes due 2022 | Acquisition Corp.

5.625%

5.625%

$ 1,000,000

$ 4,000,000

5.000% Senior Secured Notes due 2023 | Acquisition Corp.

$ 0

^[4]

$ 0

^[4]

$ 221,000,000

246,000,000

^[4]

5.00%

$ 300,000,000

2,000,000

4.125% Senior Secured Notes due 2024 | Acquisition Corp.

^[5]

$ 298,000,000

297,000,000

4.125%

$ 2,000,000

$ 353,000,000

€ 310,500,000

402,000,000

€ 345,000,000

4,000,000

3,000,000

4.875% Senior Secured Notes due 2024

^[6]

$ 349,000,000

399,000,000

4.875% Senior Secured Notes due 2024 | Acquisition Corp.

4.875%

4.875%

$ 220,000,000

$ 30,000,000

250,000,000

2,000,000

3,000,000

3.625% Senior Secured Notes due 2026 | Acquisition Corp.

^[7]

$ 218,000,000

247,000,000

3.625%

$ 506,000,000

€ 445,000,000

7,000,000

Unamortized premium

8,000,000

5.500% Senior Notes due 2026 | Acquisition Corp.

^[8]

$ 507,000,000

5.50%

$ 325,000,000

325,000,000

$ 325,000,000

4,000,000

5,000,000

^[9]

$ 321,000,000

$ 320,000,000

[1]	Principal amount of debt of $3.030 billion and $2.851 billion, an additional issuance premium of $8 million and nil, less unamortized discount of $3 million and $4 million and unamortized deferred financing costs of $29 million and $28 million at June 30, 2019 and September 30, 2018, respectively.
[2]	Reflects $180 million of commitments under the Revolving Credit Facility available at both June 30, 2019 and September 30, 2018, less letters of credit outstanding of approximately $13 million at June 30, 2019 and $8 million at September 30, 2018. There were no loans outstanding under the Revolving Credit Facility at June 30, 2019 or September 30, 2018.
[3]	Principal amount of $1.326 billion less unamortized discount of $3 million and unamortized deferred financing costs of $10 million and $12 million at June 30, 2019 and September 30, 2018, respectively.
[4]	On May 16, 2019, Acquisition Corp. redeemed the remaining $221 million of its outstanding 5.625% Senior Notes due 2022. The Company recorded a loss on extinguishment of debt of approximately $4 million as a result of the debt redemption, which represents the premium paid on early redemption and unamortized deferred financing costs.
[5]	Principal amount of $300 million less unamortized deferred financing costs of $2 million at both June 30, 2019 and September 30, 2018.
[6]	Face amount of €311 million and €345 million at June 30, 2019 and September 30, 2018 respectively. Above amounts represent the dollar equivalent of such note at June 30, 2019 and September 30, 2018. Principal amount of $353 million and $402 million at June 30, 2019 and September 30, 2018, respectively, less unamortized deferred financing costs of $4 million and $3 million at June 30, 2019 and September 30, 2018, respectively.
[7]	Principal amount of $220 million and $250 million less unamortized deferred financing costs of $2 million and $3 million at June 30, 2019 and September 30, 2018, respectively.
[8]	Face amount of €445 million at June 30, 2019. Above amounts represent the dollar equivalent of such note at June 30, 2019. Principal amount of $506 million, an additional issuance premium of $8 million, less unamortized deferred financing costs of $7 million at June 30, 2019.
[9]	Principal amount of $325 million and $325 million less unamortized deferred financing costs of $4 million and $5 million at June 30, 2019 and September 30, 2018, respectively.

Debt - December 2017 Senior Term Loan Credit Agreement Amendment - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Debt Instrument [Line Items]
Loss on extinguishment of debt	$ 4	$ 7	$ 7	$ 31
December 2017 Senior Term Loan Credit Agreement Amendment
Debt Instrument [Line Items]
Loss on extinguishment of debt			$ 1

Debt - New Revolving Credit Agreement - Additional Information (Detail) - New Revolving Credit Agreement - Revolving Credit Facility $ in Millions	Jan. 31, 2018 USD ($)
Debt Instrument [Line Items]
Debt instrument, agreement date	Jan. 31, 2018
Credit agreement covenant terms	The Revolving Credit Agreement differs from the Old Revolving Credit Agreement in that it, among other things, reduces the interest rate margin applicable to the loans, extends the maturity date thereunder, provides for the option to increase the commitments under the Company’s then existing revolving credit agreement, provides for greater flexibility to amend and extend the Company’s then existing revolving credit agreement and create additional tranches thereunder, provides for greater flexibility over future amendments, increases the springing financial maintenance covenant to 4.75:1.00 and provides that the covenant shall not be tested unless at the end of a fiscal quarter the outstanding amount of loans and drawings under letters of credit which have not been reimbursed exceeds $54 million and aligns the other negative covenants with those of the Senior Term Loan Credit Agreement.
Debt instrument, springing financial maintenance covenant	4.75%
Maximum
Debt Instrument [Line Items]
Debt instrument, reimbursed amount	$ 54

Debt - March 2018 Senior Term Loan Credit Agreement Amendment - Additional Information (Detail) - Acquisition Corp. - USD ($)	Jun. 30, 2019	Sep. 30, 2018	Mar. 14, 2018
Debt Instrument [Line Items]
Face or principal amount of debt instrument	$ 3,030,000,000	$ 2,851,000,000
March 2018 Senior Term Loan Credit Agreement Amendment
Debt Instrument [Line Items]
Face or principal amount of debt instrument			$ 320,000,000
Revolving credit facility outstanding	$ 1,326,000,000

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Debt - Notes Offering - Additional Information (Detail) - USD ($)		9 Months Ended
	Mar. 14, 2018	Jun. 30, 2019	Sep. 30, 2018
Acquisition Corp.
Debt Instrument [Line Items]
Face or principal amount of debt instrument		$ 3,030,000,000	$ 2,851,000,000
5.500% Senior Notes due 2026 \| Acquisition Corp.
Debt Instrument [Line Items]
Face or principal amount of debt instrument	$ 325,000,000	$ 325,000,000	$ 325,000,000
Interest rate	5.50%	5.50%
Due date of senior secured notes	2026	2026
6.750% Senior Notes due 2022
Debt Instrument [Line Items]
Face or principal amount of debt instrument	$ 523,000,000
Interest rate	6.75%
6.750% Senior Notes due 2022 \| Acquisition Corp.
Debt Instrument [Line Items]
Face or principal amount of debt instrument	$ 112,000,000

Debt - Tender Offer and Notes Redemption - Additional Information (Detail) - USD ($)	1 Months Ended		3 Months Ended		9 Months Ended
	Apr. 30, 2018	Mar. 31, 2018	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Sep. 30, 2018	Mar. 14, 2018
Debt Instrument [Line Items]
Loss on extinguishment of debt			$ 4,000,000	$ 7,000,000	$ 7,000,000	$ 31,000,000
Acquisition Corp.
Debt Instrument [Line Items]
Face or principal amount of debt instrument			$ 3,030,000,000		$ 3,030,000,000		$ 2,851,000,000
6.750% Senior Notes due 2022
Debt Instrument [Line Items]
Interest rate								6.75%
Face or principal amount of debt instrument								$ 523,000,000
Loss on extinguishment of debt	$ 5,000,000	$ 23,000,000
6.750% Senior Notes due 2022 \| Acquisition Corp.
Debt Instrument [Line Items]
Face or principal amount of debt instrument								112,000,000
Redemption deposit								$ 119,000,000

Debt - June 2018 Senior Term Loan Credit Agreement Amendment - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Debt Instrument [Line Items]
Loss on extinguishment of debt	$ 4	$ 7	$ 7	$ 31
June 2018 Senior Term Loan Credit Agreement Amendment
Debt Instrument [Line Items]
Loss on extinguishment of debt			$ 2

Debt - 3.625% Senior Secured Notes Offering - Additional Information (Detail)					9 Months Ended
	Nov. 05, 2018 USD ($)	Oct. 12, 2018 EUR (€)	Oct. 09, 2018 USD ($)	Oct. 09, 2018 EUR (€)	Jun. 30, 2019 USD ($)	Jun. 30, 2019 EUR (€)	Apr. 30, 2019 EUR (€)	Oct. 09, 2018 EUR (€)	Sep. 30, 2018 USD ($)	Sep. 30, 2018 EUR (€)	Jun. 30, 2018
Acquisition Corp.
Debt Instrument [Line Items]
Aggregate principal amount of debt instrument					$ 3,030,000,000				$ 2,851,000,000
3.625% Senior Secured Notes due 2026
Debt Instrument [Line Items]
Interest rate					3.625%	3.625%
3.625% Senior Secured Notes due 2026 \| Acquisition Corp.
Debt Instrument [Line Items]
Aggregate principal amount of debt instrument \| €							€ 195,000,000	€ 250,000,000
Interest rate			3.625%		3.625%	3.625%	3.625%	3.625%
4.125% Senior Secured Notes due 2024 \| Acquisition Corp.
Debt Instrument [Line Items]
Aggregate principal amount of debt instrument					$ 353,000,000	€ 310,500,000			402,000,000	€ 345,000,000
Due date of senior secured notes		2024			2024
Interest rate		4.125%	4.125%		4.125%	4.125%		4.125%
Redemptions of senior notes \| €		€ 34,500,000		€ 34,500,000
4.875% Senior Secured Notes due 2024
Debt Instrument [Line Items]
Interest rate					4.875%	4.875%					4.875%
4.875% Senior Secured Notes due 2024 \| Acquisition Corp.
Debt Instrument [Line Items]
Aggregate principal amount of debt instrument			$ 30,000,000		$ 220,000,000				$ 250,000,000
Due date of senior secured notes			2024	2024	2024
Interest rate			4.875%		4.875%	4.875%		4.875%
5.625% Senior Secured Notes
Debt Instrument [Line Items]
Interest rate					5.625%	5.625%					5.625%
5.625% Senior Secured Notes \| Acquisition Corp.
Debt Instrument [Line Items]
Due date of senior secured notes	2022				2022
Interest rate	5.625%		5.625%		5.625%	5.625%	5.625%	5.625%
Redemptions of senior notes	$ 26,550,000		$ 26,550,000

Debt - Partial Redemption of 4.125% Senior Secured Notes - Additional Information (Detail) € in Thousands, $ in Millions				3 Months Ended		9 Months Ended
	Oct. 12, 2018 USD ($)	Oct. 12, 2018 EUR (€)	Oct. 09, 2018 EUR (€)	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($)	Jun. 30, 2018 USD ($)	Apr. 30, 2019
Debt Instrument [Line Items]
Loss on extinguishment of debt \| $				$ 4	$ 7	$ 7	$ 31
4.125% Senior Secured Notes due 2024 \| Acquisition Corp.
Debt Instrument [Line Items]
Due date of senior secured notes	2024	2024				2024
Redemptions of senior notes		€ 34,500	€ 34,500
Interest rate		4.125%	4.125%	4.125%		4.125%
Senior notes redemption price		€ 36,170
Redemption price, percentage of principal amount redeemed	103.00%	103.00%
Debt instrument remaining outstanding amount		€ 310,500
Loss on extinguishment of debt \| $	$ 2
3.625% Senior Secured Notes due 2026
Debt Instrument [Line Items]
Interest rate				3.625%		3.625%
3.625% Senior Secured Notes due 2026 \| Acquisition Corp.
Debt Instrument [Line Items]
Interest rate			3.625%	3.625%		3.625%		3.625%

Debt - Open Market Purchase - Additional Information (Detail) - USD ($)		3 Months Ended		9 Months Ended
	Oct. 09, 2018	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Sep. 30, 2018
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ 4,000,000	$ 7,000,000	$ 7,000,000	$ 31,000,000
Acquisition Corp.
Debt Instrument [Line Items]
Aggregate principal amount of debt instrument		$ 3,030,000,000		$ 3,030,000,000		$ 2,851,000,000
4.875% Senior Secured Notes due 2024
Debt Instrument [Line Items]
Interest rate		4.875%	4.875%	4.875%	4.875%
4.875% Senior Secured Notes due 2024 \| Acquisition Corp.
Debt Instrument [Line Items]
Aggregate principal amount of debt instrument	$ 30,000,000	$ 220,000,000		$ 220,000,000		$ 250,000,000
Due date of senior secured notes	2024			2024
Interest rate	4.875%	4.875%		4.875%
Debt instrument remaining outstanding amount	$ 220,000,000
4.875% Senior Secured Notes due 2024 \| Acquisition Corp. \| Maximum
Debt Instrument [Line Items]
Loss on extinguishment of debt	$ 1,000,000

Debt - Redemption of 5.625% Senior Secured Notes - Additional Information (Detail) - USD ($) $ in Thousands			3 Months Ended		9 Months Ended
	Nov. 05, 2018	Oct. 09, 2018	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Apr. 30, 2019
Debt Instrument [Line Items]
Loss on extinguishment of debt			$ 4,000	$ 7,000	$ 7,000	$ 31,000
5.625% Senior Secured Notes
Debt Instrument [Line Items]
Interest rate			5.625%	5.625%	5.625%	5.625%
5.625% Senior Secured Notes \| Acquisition Corp.
Debt Instrument [Line Items]
Due date of senior secured notes	2022				2022
Redemptions of senior notes	$ 26,550	$ 26,550
Interest rate	5.625%	5.625%	5.625%		5.625%		5.625%
Senior notes redemption price	$ 27,380
Redemption price, percentage of principal amount redeemed	102.813%
Debt instrument remaining outstanding amount	$ 220,950
Loss on extinguishment of debt	$ 1,000				$ 4,000

Debt - Interest Rates - Additional Information (Detail) - Acquisition Corp.	9 Months Ended
	Jun. 30, 2019
Senior Term Loan Facility due 2020
Debt Instrument [Line Items]
Description of variable rate basis	The loans under the Senior Term Loan Facility bear interest at Acquisition Corp.’s election at a rate equal to (i) the rate for deposits in U.S. dollars in the London interbank market (adjusted for maximum reserves) for the applicable interest period (“Term Loan LIBOR”) subject to a zero floor, plus 2.125% per annum, or (ii) the base rate, which is the highest of (x) the corporate base rate established by the administrative agent as its prime rate in effect at its principal office in New York City from time to time, (y) 0.50% in excess of the overnight federal funds rate and (z) one-month Term Loan LIBOR, plus 1.00% per annum, plus, in each case, 1.125% per annum.
Interest rate applicable to overdue principal	2.00%
Term loan Base rate plus Election Rate	1.00%
London Interbank Offered Rate (LIBOR) \| Senior Term Loan Facility due 2020
Debt Instrument [Line Items]
Debt instrument, marginal interest rate	2.125%
Base Rate \| Senior Term Loan Facility due 2020
Debt Instrument [Line Items]
Debt instrument, marginal interest rate	1.125%
Additional Interest rate on other overdue amounts	2.00%
Federal Funds Effective Swap Rate \| Senior Term Loan Facility due 2020
Debt Instrument [Line Items]
Debt instrument, marginal interest rate	0.50%
Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, marginal interest rate	0.75%
Description of variable rate basis	The loans under the Revolving Credit Facility bear interest at Acquisition Corp.’s election at a rate equal to (i) the rate for deposits in the borrowing currency in the London interbank market (adjusted for maximum reserves) for the applicable interest period (“Revolving LIBOR”) subject to a zero floor, plus 1.75% per annum, or (ii) the base rate, which is the highest of (x) the corporate base rate established by the administrative agent from time to time, (y) 0.50% in excess of the overnight federal funds rate and (z) the one-month Revolving LIBOR plus 1.0% per annum, plus, in each case, 0.75% per annum. If there is a payment default at any time, then the interest rate applicable to overdue principal will be the rate otherwise applicable to such loan plus 2.0% per annum.
Interest rate applicable to overdue principal	2.00%
Revolving Credit Facility \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, marginal interest rate	1.75%
Revolving Credit Facility \| Base Rate
Debt Instrument [Line Items]
Debt instrument, marginal interest rate	1.00%
Additional Interest rate on other overdue amounts	2.00%
Revolving Credit Facility \| Federal Funds Effective Swap Rate
Debt Instrument [Line Items]
Debt instrument, marginal interest rate	0.50%

Debt - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
Debt - Additional Information (Detail) - USD ($)	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Sep. 30, 2018
Debt Instrument [Line Items]
Scheduled maturities of long-term debt in 2021	$ 0		$ 0
Interest expense, net	$ 36,000,000	$ 33,000,000	$ 108,000,000	$ 105,000,000
Weighted-average interest rate of total debt	4.50%	4.70%	4.50%	4.70%	4.70%
Senior Notes
Debt Instrument [Line Items]
Scheduled maturities of long-term debt in 2019	$ 0		$ 0
Scheduled maturities of long-term debt in 2020	0		0
Scheduled maturities of long-term debt in 2021	0		0
Scheduled maturities of long-term debt in 2023	300,000,000		300,000,000
Scheduled maturities of long-term debt, thereafter	$ 1,404,000,000		$ 1,404,000,000
Acquisition Corp. \| Revolving Credit Facility
Debt Instrument [Line Items]
Extended maturity date of credit facility			Jan. 31, 2023
Acquisition Corp. \| Term Loan Facility
Debt Instrument [Line Items]
Credit facility maturity date			Nov. 01, 2023

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions			3 Months Ended			9 Months Ended		12 Months Ended
	Jul. 29, 2015	Jun. 17, 2015	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2019	Jun. 30, 2018	Sep. 30, 2017	Sep. 30, 2016
Loss Contingencies [Line Items]
Revenues			$ 1,058	$ 958		$ 3,351	$ 2,966
Sirius XM \| Settled Litigation
Loss Contingencies [Line Items]
Receipts from plaintiff	$ 210
Cash distribution									$ 33
Revenues					$ 1			$ 4	$ 28
Length of sound recording agreement		5 years

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended				9 Months Ended		12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2019	Jun. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Tax Contingency [Line Items]
U.S. federal corporate statutory tax rate		21.00%	24.50%	35.00%	21.00%	24.50%		24.50%
Enacted tax rate					21.00%
Income tax expense related to deferred tax assets								$ 23,000,000
Tax Act, income tax expense			$ 9,000,000
Income tax liability related to Transition Tax	$ 0				$ 0
Income tax expense	(12,000,000)		$ 61,000,000		86,000,000	$ 132,000,000
Tax benefit due to reversal of deferred tax assets valuation allowance						$ 17,000,000
Maximum
Income Tax Contingency [Line Items]
Reasonably possible decrease in gross unrecognized tax benefits from ongoing audits and settlement	$ 2,000,000				$ 2,000,000
Forecast
Income Tax Contingency [Line Items]
U.S. federal corporate statutory tax rate							21.00%

Derivative Financial Instruments - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Sep. 30, 2018
Derivatives, Fair Value [Line Items]
Companys hedged interest rate transactions			4 years
Outstanding hedge contracts					$ 0
Unrealized deferred losses in comprehensive income related to foreign exchange hedging			$ 1,000,000
Deferred gains (losses) in comprehensive loss related to foreign exchange hedging					0
Deferred (losses) gains on derivative financial instruments	$ (3,000,000)	$ (3,000,000)	(12,000,000)	$ (1,000,000)
Unrealized pre-tax (losses) gains of the company foreign exchange forward contracts			(1,000,000)	(1,000,000)
Unrealized pre-tax (losses) gains of the company derivative interest rate			(15,000,000)	$ 2,000,000
Interest Rate Swap
Derivatives, Fair Value [Line Items]
Outstanding hedge contracts	320,000,000		320,000,000		320,000,000
Deferred (losses) gains on derivative financial instruments			(8,000,000)		$ 3,000,000
Sale
Derivatives, Fair Value [Line Items]
Outstanding hedge contracts	153,000,000		153,000,000
Purchase
Derivatives, Fair Value [Line Items]
Outstanding hedge contracts	$ 93,000,000		$ 93,000,000

Derivative Financial Instruments - Summary of Amounts Recorded in Consolidated Balance Sheets (Detail) - USD ($)
$ in Millions

Jun. 30, 2019

^[1]

Sep. 30, 2018

^[3]

Other current assets

Other current liabilities

Other assets

$ 1

^[2]

$ 0

Other liabilities

Other noncurrent assets

Other noncurrent liabilities

Other assets

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Other liabilities

$ 11

$ 0

[1]	$4 million and $3 million of foreign exchange derivative contracts in asset and liability positions, respectively, and $11 million of interest rate swap in a liability position including non-designated cash flow hedges.
[2]	The fair value of foreign currency forward exchange contracts is based on dealer quotes of market forward rates and reflects the amount that the Company would receive or pay at their maturity dates for contracts involving the same currencies and maturity dates.
[3]	$4 million of interest rate swap in an asset position.

Derivative Financial Instruments - Summary of Amounts Recorded in Consolidated Balance Sheets Footnote (Detail) - USD ($) $ in Millions	Jun. 30, 2019	Sep. 30, 2018
Derivatives, Fair Value [Line Items]
Foreign exchange derivative contracts in asset	$ 4
Foreign exchange derivative contracts in liability	3
Interest Rate Swap
Derivatives, Fair Value [Line Items]
Foreign exchange derivative contracts in asset		$ 4
Foreign exchange derivative contracts in liability	$ 11

Segment Information - Additional Information (Detail)	9 Months Ended
Segment Information - Additional Information (Detail)	Jun. 30, 2019 segment
Segment Reporting [Abstract]
Number of fundamental operations	2

Segment Information - Schedule of Segment Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Segment Reporting Information [Line Items]
Revenue	$ 1,058	$ 958	$ 3,351	$ 2,966
Operating income (loss)	58	28	327	201
Amortization of intangible assets	51	56	160	164
Depreciation of property, plant and equipment	15	15	43	41
OIBDA	124	99	530	406
Operating Segments \| Recorded Music
Segment Reporting Information [Line Items]
Revenue	913	802	2,887	2,497
Operating income (loss)	85	67	382	276
Amortization of intangible assets	34	39	109	113
Depreciation of property, plant and equipment	12	9	31	26
OIBDA	131	115	522	415
Operating Segments \| Music Publishing
Segment Reporting Information [Line Items]
Revenue	147	159	470	476
Operating income (loss)	18	5	67	45
Amortization of intangible assets	17	17	51	51
Depreciation of property, plant and equipment	1	2	4	5
OIBDA	36	24	122	101
Corporate expenses and eliminations
Segment Reporting Information [Line Items]
Revenue	(2)	(3)	(6)	(7)
Operating income (loss)	(45)	(44)	(122)	(120)
Amortization of intangible assets	0	0	0	0
Depreciation of property, plant and equipment	2	4	8	10
OIBDA	$ (43)	$ (40)	$ (114)	$ (110)

Additional Financial Information - Additional Information (Detail) - USD ($) $ in Thousands							3 Months Ended		9 Months Ended
	Jun. 28, 2019	Mar. 26, 2019	Dec. 20, 2018	Aug. 07, 2018	May 07, 2018	Jan. 08, 2018	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Supplemental Cash Flow Information [Abstract]
Accrued interest paid							$ 50,000	$ 41,000	$ 120,000	$ 126,000
Income taxes paid net of refunds							$ 22,000	15,000	$ 40,000	33,000
Special cash dividends	$ 31,250	$ 31,250	$ 31,250	$ 500,000	$ 300,000	$ 125,000
Special cash dividends, date to be paid	Jul. 05, 2019	Apr. 05, 2019	Jan. 04, 2019	Aug. 10, 2018	May 11, 2018	Jan. 12, 2018
Special cash dividends, date of record				Aug. 07, 2018	May 07, 2018	Jan. 11, 2018
Sale of common shares, consideration received								504,000
Estimated pre-tax gain, net of estimated royalty expense and other related cost								378,000		378,000
Estimated advance royalty recoveries								16,000		$ 16,000
Estimated tax expense associated with net income on sale of shares								$ 77,000

Fair Value Measurements - Schedule of Fair Value of Financial Instruments (Detail) - USD ($)
$ in Millions

Jun. 30, 2019

Sep. 30, 2018

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

$ 26

$ (4)

Level 1

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Level 2

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Level 3

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

(9)

(8)

Other current assets

Other current assets | Level 1

^[1],[2]

^[3]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Other current assets | Level 2

^[2]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Other current assets | Level 3

^[2]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Other current liabilities

^[2]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Other current liabilities | Level 1

^[4]

(3)

(2)

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Other current liabilities | Level 2

^[4]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Other current liabilities | Level 3

^[4]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

^[4]

(3)

(2)

Other noncurrent assets

^[1]

^[3]

Other noncurrent assets | Level 1

^[5]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Other noncurrent assets | Level 2

^[5]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Other noncurrent assets | Level 3

^[5]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Other noncurrent liabilities

^[5]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Other noncurrent liabilities | Level 1

^[4]

(6)

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Other noncurrent liabilities | Level 2

^[4]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Other noncurrent liabilities | Level 3

^[4]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Interest Rate Swap | Other noncurrent assets

^[4]

(6)

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Interest Rate Swap | Other noncurrent assets | Level 1

^[6]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Interest Rate Swap | Other noncurrent assets | Level 2

^[6]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Interest Rate Swap | Other noncurrent assets | Level 3

^[6]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Interest Rate Swap | Other noncurrent liabilities

^[6]

$ 0

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Interest Rate Swap | Other noncurrent liabilities | Level 1

^[6]

(11)

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Interest Rate Swap | Other noncurrent liabilities | Level 2

^[6]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Interest Rate Swap | Other noncurrent liabilities | Level 3

^[6]

(11)

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Condensed Income Statements, Captions [Line Items]

^[6]

$ 0

[1]	$4 million and $3 million of foreign exchange derivative contracts in asset and liability positions, respectively, and $11 million of interest rate swap in a liability position including non-designated cash flow hedges.
[2]	The fair value of foreign currency forward exchange contracts is based on dealer quotes of market forward rates and reflects the amount that the Company would receive or pay at their maturity dates for contracts involving the same currencies and maturity dates.
[3]	$4 million of interest rate swap in an asset position.
[4]	This represents purchase obligations and contingent consideration related to the Company’s various acquisitions. This is based on a probability weighted performance approach and it is adjusted to fair value on a recurring basis and any adjustments are included as a component of operating income in the statement of operations. These amounts were mainly calculated using unobservable inputs such as future earnings performance of the Company’s various acquisitions and the expected timing of the payment.
[5]	The fair value of equity method investment represents an equity method investment acquired during the nine months June 30, 2019 whereby the Company has elected the fair value option under ASC 825 – Financial Instruments. The valuation is based upon quoted prices in active markets and model-based valuation techniques to determine fair value.
[6]	The fair value of the interest rate swap is based on dealer quotes of market forward rates and reflects the amount that the Company would receive or pay as of June 30, 2019 for contracts involving the same attributes and maturity dates.

Fair Value Measurements - Reconciliation of Net Liabilities Classified as Level 3 (Detail) - Level 3 $ in Millions	9 Months Ended
	Jun. 30, 2019 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at September 30, 2018	$ (8)
Additions	(2)
Reductions	0
Payments	1
Balance at March 31, 2019	$ (9)

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions	Jun. 30, 2019	Sep. 30, 2018
Level 2 measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt instrument, fair value disclosure	$ 3,083	$ 2,862

Related Party - Additional Information (Detail) - Ford Factory Building $ in Millions	9 Months Ended
	Jun. 30, 2019 USD ($)
Related Party Transaction [Line Items]
Existing rental lease payments	$ 10
Remaining lease term	11 years
Lease existence of option to extend	true
Lease option to extend	single option to extend the term of the lease for 10 years thereafter

Guarantor and Non-Guarantor Subsidiaries Financial Information - Additional Information (Detail)	Jun. 30, 2019	Apr. 30, 2019	Oct. 12, 2018	Oct. 09, 2018	Jun. 30, 2018
5.00% Senior Secured Notes due 2023 \| Acquisition Corp.
Condensed Financial Statements, Captions [Line Items]
Interest rate	5.00%
4.125% Senior Secured Notes due 2024 \| Acquisition Corp.
Condensed Financial Statements, Captions [Line Items]
Interest rate	4.125%		4.125%	4.125%
4.875% Senior Secured Notes due 2024
Condensed Financial Statements, Captions [Line Items]
Interest rate	4.875%				4.875%
4.875% Senior Secured Notes due 2024 \| Acquisition Corp.
Condensed Financial Statements, Captions [Line Items]
Interest rate	4.875%			4.875%
3.625% Senior Secured Notes due 2026
Condensed Financial Statements, Captions [Line Items]
Interest rate	3.625%
3.625% Senior Secured Notes due 2026 \| Acquisition Corp.
Condensed Financial Statements, Captions [Line Items]
Interest rate	3.625%	3.625%		3.625%
5.50% Senior Notes due 2026 \| Acquisition Corp.
Condensed Financial Statements, Captions [Line Items]
Interest rate	5.50%

Guarantor and Non-Guarantor Subsidiaries Financial Information - Consolidating Balance Sheet Unaudited (Detail) - USD ($) $ in Millions	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2017
Current assets:
Cash and equivalents	$ 541		$ 514
Accounts receivable, net	744		447
Inventories	67		42
Royalty advances expected to be recouped within one year	171		123
Prepaid and other current assets	57		50
Total current assets	1,580		1,176
Royalty advances expected to be recouped after one year	209		153
Property, plant and equipment, net	296		229
Goodwill	1,772		1,692
Intangible assets subject to amortization, net	1,780		1,851
Intangible assets not subject to amortization	153		154
Deferred tax assets, net	7		11
Other assets	158		78
Total assets	5,955		5,344
Current liabilities:
Accounts payable	208		281
Accrued royalties	1,577		1,396
Accrued liabilities	448		423
Accrued interest	18		31
Deferred revenue	170		208
Other current liabilities	123		34
Total current liabilities	2,544		2,373
Long-term debt	3,006		2,819
Deferred tax liabilities, net	236		165
Other noncurrent liabilities	302		307
Total liabilities	6,088		5,664
Total Warner Music Group Corp. (deficit) equity	(152)		(334)
Noncontrolling interest	19		14
Total equity	(133)	$ (120)	(320)	$ 191	$ 205	$ 308
Total liabilities and equity	5,955		5,344
Reportable Legal Entities \| Guarantor Subsidiaries
Current assets:
Cash and equivalents	297		169
Accounts receivable, net	331		262
Inventories	13		18
Royalty advances expected to be recouped within one year	103		79
Prepaid and other current assets	10		15
Total current assets	754		543
Due from (to) parent companies	(430)		(214)
Investments in and advances to consolidated subsidiaries	2,394		2,192
Royalty advances expected to be recouped after one year	126		93
Property, plant and equipment, net	195		155
Goodwill	1,370		1,370
Intangible assets subject to amortization, net	902		956
Intangible assets not subject to amortization	71		71
Other assets	124		55
Total assets	5,506		5,221
Current liabilities:
Accounts payable	127		200
Accrued royalties	803		869
Accrued liabilities	234		195
Deferred revenue	51		94
Other current liabilities	42		2
Total current liabilities	1,257		1,360
Deferred tax liabilities, net	61		3
Other noncurrent liabilities	182		197
Total liabilities	1,500		1,560
Total Warner Music Group Corp. (deficit) equity	4,002		3,656
Noncontrolling interest	4		5
Total equity	4,006		3,661
Total liabilities and equity	5,506		5,221
Reportable Legal Entities \| Non-Guarantor Subsidiaries
Current assets:
Cash and equivalents	244		345
Accounts receivable, net	413		185
Inventories	54		24
Royalty advances expected to be recouped within one year	68		44
Prepaid and other current assets	47		35
Total current assets	826		633
Due from (to) parent companies	(43)		(274)
Royalty advances expected to be recouped after one year	83		60
Property, plant and equipment, net	101		74
Goodwill	402		322
Intangible assets subject to amortization, net	878		895
Intangible assets not subject to amortization	82		83
Deferred tax assets, net	7		11
Other assets	29		11
Total assets	2,365		1,815
Current liabilities:
Accounts payable	81		81
Accrued royalties	769		527
Accrued liabilities	214		228
Deferred revenue	119		114
Other current liabilities	81		32
Total current liabilities	1,264		982
Deferred tax liabilities, net	175		162
Other noncurrent liabilities	110		108
Total liabilities	1,549		1,252
Total Warner Music Group Corp. (deficit) equity	801		554
Noncontrolling interest	15		9
Total equity	816		563
Total liabilities and equity	2,365		1,815
Reportable Legal Entities \| Warner Music Group Corp.
Current assets:
Investments in and advances to consolidated subsidiaries	809		675
Total assets	809		675
Current liabilities:
Total Warner Music Group Corp. (deficit) equity	809		675
Total equity	809		675
Total liabilities and equity	809		675
Reportable Legal Entities \| WMG Acquisition Corp.
Current assets:
Cash and equivalents	0
Total current assets	0
Due from (to) parent companies	473		488
Investments in and advances to consolidated subsidiaries	2,409		2,018
Other assets	5		12
Total assets	2,887		2,518
Current liabilities:
Accrued royalties	5
Accrued interest	18		31
Total current liabilities	23		31
Long-term debt	3,006		2,819
Other noncurrent liabilities	10		2
Total liabilities	3,039		2,852
Total Warner Music Group Corp. (deficit) equity	(152)		(334)
Total equity	(152)		(334)
Total liabilities and equity	2,887		2,518
Reportable Legal Entities \| WMG Acquisition Corp. Consolidated
Current assets:
Cash and equivalents	541		514
Accounts receivable, net	744		447
Inventories	67		42
Royalty advances expected to be recouped within one year	171		123
Prepaid and other current assets	57		50
Total current assets	1,580		1,176
Royalty advances expected to be recouped after one year	209		153
Property, plant and equipment, net	296		229
Goodwill	1,772		1,692
Intangible assets subject to amortization, net	1,780		1,851
Intangible assets not subject to amortization	153		154
Deferred tax assets, net	7		11
Other assets	158		78
Total assets	5,955		5,344
Current liabilities:
Accounts payable	208		281
Accrued royalties	1,577		1,396
Accrued liabilities	448		423
Accrued interest	18		31
Deferred revenue	170		208
Other current liabilities	123		34
Total current liabilities	2,544		2,373
Long-term debt	3,006		2,819
Deferred tax liabilities, net	236		165
Other noncurrent liabilities	302		307
Total liabilities	6,088		5,664
Total Warner Music Group Corp. (deficit) equity	(152)		(334)
Noncontrolling interest	19		14
Total equity	(133)		(320)
Total liabilities and equity	5,955		5,344
Reportable Legal Entities \| WMG Holdings Corp.
Current assets:
Investments in and advances to consolidated subsidiaries	809		675
Total assets	809		675
Current liabilities:
Total Warner Music Group Corp. (deficit) equity	809		675
Total equity	809		675
Total liabilities and equity	809		675
Eliminations
Current assets:
Investments in and advances to consolidated subsidiaries	(1,618)		(1,350)
Total assets	(1,618)		(1,350)
Current liabilities:
Total Warner Music Group Corp. (deficit) equity	(1,618)		(1,350)
Total equity	(1,618)		(1,350)
Total liabilities and equity	(1,618)		(1,350)
Eliminations \| WMG Acquisition Corp.
Current assets:
Investments in and advances to consolidated subsidiaries	(4,803)		(4,210)
Total assets	(4,803)		(4,210)
Current liabilities:
Total Warner Music Group Corp. (deficit) equity	(4,803)		(4,210)
Total equity	(4,803)		(4,210)
Total liabilities and equity	$ (4,803)		$ (4,210)

Guarantor and Non-Guarantor Subsidiaries Financial Information - Consolidating Statement of Operations Unaudited (Detail) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Jun. 30, 2019

Jun. 30, 2018

Jun. 30, 2019

Jun. 30, 2018

$ 1,058

$ 958

$ 3,351

$ 2,966

(577)

(531)

(1,762)

(1,588)

^[1]

(372)

(343)

(1,102)

(1,013)

(51)

(56)

(160)

(164)

(1,000)

(930)

(3,024)

(2,765)

327

201

(4)

(7)

(31)

(36)

(33)

(108)

(105)

(16)

394

392

382

253

457

(61)

(86)

(132)

Less: Income attributable to noncontrolling interest

321

167

325

(1)

(4)

Net income attributable to Warner Music Group Corp.

320

166

321

Reportable Legal Entities

Reportable Legal Entities | Guarantor Subsidiaries

320

166

321

Condensed Income Statements, Captions [Line Items]

410

544

1,352

1,626

(216)

(261)

(653)

(760)

(198)

(252)

(573)

(731)

(24)

(23)

(74)

(70)

(438)

(536)

(1,300)

(1,561)

(28)

Equity gains (losses) from equity method investments

201

(1)

107

362

175

(62)

(79)

(131)

Less: Income attributable to noncontrolling interest

(30)

283

(1)

Net income attributable to Warner Music Group Corp.

(30)

283

Reportable Legal Entities | Non-Guarantor Subsidiaries

Condensed Income Statements, Captions [Line Items]

760

533

2,286

1,703

(442)

(346)

(1,338)

(1,066)

(203)

(133)

(586)

(406)

(27)

(33)

(86)

(94)

(672)

(512)

(2,010)

(1,566)

276

137

(34)

(6)

(8)

(18)

(21)

(45)

(72)

186

124

(41)

(21)

Less: Income attributable to noncontrolling interest

145

103

(1)

(3)

Net income attributable to Warner Music Group Corp.

144

100

Reportable Legal Entities | Warner Music Group Corp.

Equity gains (losses) from equity method investments

320

166

321

320

166

321

Net income attributable to Warner Music Group Corp.

320

166

321

320

166

321

Reportable Legal Entities | WMG Acquisition Corp.

(4)

(7)

(31)

Equity gains (losses) from equity method investments

(30)

(27)

(92)

(87)

345

195

(8)

376

381

252

453

(61)

(86)

(132)

Net income attributable to Warner Music Group Corp.

320

166

321

320

166

321

Reportable Legal Entities | WMG Acquisition Corp. Consolidated

Condensed Income Statements, Captions [Line Items]

1,058

958

3,351

2,966

(577)

(531)

(1,762)

(1,588)

(372)

(343)

(1,102)

(1,013)

(51)

(56)

(160)

(164)

(1,000)

(930)

(3,024)

(2,765)

327

201

(4)

(7)

(31)

(36)

(33)

(108)

(105)

(16)

394

392

382

253

457

(61)

(86)

(132)

Less: Income attributable to noncontrolling interest

321

167

325

(1)

(4)

Net income attributable to Warner Music Group Corp.

320

166

321

Reportable Legal Entities | WMG Holdings Corp.

Equity gains (losses) from equity method investments

320

166

321

320

166

321

Net income attributable to Warner Music Group Corp.

320

166

321

320

166

321

Eliminations

Equity gains (losses) from equity method investments

(26)

(640)

(332)

(642)

(26)

(640)

(332)

(642)

Net income attributable to Warner Music Group Corp.

(26)

(640)

(332)

(642)

(26)

(640)

(332)

(642)

Eliminations | WMG Acquisition Corp.

Condensed Income Statements, Captions [Line Items]

(112)

(119)

(287)

(363)

229

238

124

110

118

286

362

Equity gains (losses) from equity method investments

(2)

(1)

(101)

(62)

(546)

(294)

(103)

(63)

(547)

(295)

(24)

120

152