0001319161-23-000027 | 10-Q | XBRL Viewer

Goodwill and Intangible Assets (Tables)

9 Months Ended

Jun. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of 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)
Balances at September 30, 2022	$	1,456	$	464	$	1,920
Acquisitions	8		—		8

Other adjustments (a)	34		—		34
Balances at June 30, 2023	$	1,498	$	464	$	1,962

______________________________________

(a)Other adjustments during the nine months ended June 30, 2023 represent foreign currency movements.

Schedule of Indefinite Intangible Assets

Intangible assets consist of the following:


	Weighted-Average Useful Life	June 30, 2023		September 30, 2022
		(in millions)
Intangible assets subject to amortization:
Recorded music catalog	12 years	$	1,397	$	1,316
Music publishing copyrights	25 years	1,995		1,889
Artist and songwriter contracts	13 years	1,056		1,014
Trademarks	14 years	109		103
Other intangible assets	6 years	103		89
Total gross intangible assets subject to amortization		4,660		4,411
Accumulated amortization		(2,465)		(2,172)
Total net intangible assets subject to amortization		2,195		2,239
Intangible assets not subject to amortization:
Trademarks and tradenames	Indefinite	150		145
Total net intangible assets		$	2,345	$	2,384

Schedule of Finite-Lived Intangible Assets

Intangible assets consist of the following:


	Weighted-Average Useful Life	June 30, 2023		September 30, 2022
		(in millions)
Intangible assets subject to amortization:
Recorded music catalog	12 years	$	1,397	$	1,316
Music publishing copyrights	25 years	1,995		1,889
Artist and songwriter contracts	13 years	1,056		1,014
Trademarks	14 years	109		103
Other intangible assets	6 years	103		89
Total gross intangible assets subject to amortization		4,660		4,411
Accumulated amortization		(2,465)		(2,172)
Total net intangible assets subject to amortization		2,195		2,239
Intangible assets not subject to amortization:
Trademarks and tradenames	Indefinite	150		145
Total net intangible assets		$	2,345	$	2,384

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
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+ Details

Revenue Recognition

9 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Disaggregation of Revenue

The Company’s revenue consists of the following categories, which aggregate into the segments – Recorded Music and Music Publishing:


	Three Months Ended June 30,				Nine Months Ended June 30,
	2023		2022		2023		2022
	(in millions)
Revenue by Type
Digital	$	846	$	801	$	2,445	$	2,475
Physical	126		123		377		440
Total Digital and Physical	972		924		2,822		2,915
Artist services and expanded-rights	218		190		555		563
Licensing	92		75		287		244
Total Recorded Music	1,282		1,189		3,664		3,722
Performance	40		45		130		119
Digital	182		144		477		404
Mechanical	16		10		46		37
Synchronization	41		41		126		133
Other	4		5		11		11
Total Music Publishing	283		245		790		704
Intersegment eliminations	(1)		(2)		(3)		(4)
Total Revenues	$	1,564	$	1,432	$	4,451	$	4,422
Revenue by Geographical Location
U.S. Recorded Music	$	557	$	515	$	1,618	$	1,641
U.S. Music Publishing	147		137		415		369
Total U.S.	704		652		2,033		2,010
International Recorded Music	725		674		2,046		2,081
International Music Publishing	136		108		375		335
Total International	861		782		2,421		2,416
Intersegment eliminations	(1)		(2)		(3)		(4)
Total Revenues	$	1,564	$	1,432	$	4,451	$	4,422

Sales Returns and Uncollectible Accounts

Based on management’s analysis of sales returns, refund liabilities of $22 million and $19 million were established at June 30, 2023 and September 30, 2022, respectively.

Based on management’s analysis of estimated credit losses, reserves of $19 million and $19 million were established at June 30, 2023 and September 30, 2022, respectively.

Deferred Revenue

Deferred revenue increased by $323 million during the nine months ended June 30, 2023 related to cash received from customers for fixed fees and minimum guarantees in advance of performance, including amounts recognized in the period. Revenues of $350 million were recognized during the nine months ended June 30, 2023 related to the balance of deferred revenue at September 30, 2022. There were no other significant changes to deferred revenue during the reporting period.

Performance Obligations

For the nine months ended June 30, 2023 and June 30, 2022, the Company recognized revenue of $68 million and $55 million, respectively, from performance obligations satisfied in previous periods.

Revenues expected to be recognized in the future related to performance obligations that are unsatisfied at June 30, 2023 are as follows:


	Rest of FY23		FY24		FY25		Thereafter		Total
	(in millions)
Remaining performance obligations	$	156	$	457	$	11	$	2	$	626
Total	$	156	$	457	$	11	$	2	$	626

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

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-Topic 606
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+ Details

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities
Net income	$ 285	$ 405
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	253	257
Unrealized losses (gains) and remeasurement of foreign-denominated loans and foreign currency forward exchange contracts	71	(107)
Deferred income taxes	(18)	37
Loss on extinguishment of debt	4	0
Net (gain) loss on divestitures and investments	(44)	33
Non-cash interest expense	2	4
Non-cash stock-based compensation expense	42	35
Changes in operating assets and liabilities:
Accounts receivable, net	(94)	(156)
Inventories	0	(2)
Royalty advances	(67)	(93)
Accounts payable and accrued liabilities	(93)	(103)
Royalty payables	250	162
Accrued interest	12	15
Operating lease liabilities	(2)	(6)
Deferred revenue	(207)	(145)
Other balance sheet changes	(45)	0
Net cash provided by operating activities	349	336
Cash flows from investing activities
Acquisition of music publishing rights and music catalogs, net	(53)	(178)
Capital expenditures	(89)	(97)
Investments and acquisitions of businesses, net of cash received	(26)	(499)
Proceeds from the sale of investments	22	11
Proceeds from divestitures	42	0
Net cash used in investing activities	(104)	(763)
Cash flows from financing activities
Deferred financing costs paid	(3)	(5)
Distribution to noncontrolling interest holders	(11)	(5)
Dividends paid	(251)	(235)
Payment of deferred and contingent consideration	(133)	(4)
Taxes paid related to net share settlement of restricted stock units	0	(6)
Net cash (used in) provided by financing activities	(233)	280
Effect of exchange rate changes on cash and equivalents	4	(7)
Net increase (decrease) in cash and equivalents	16	(154)
Cash and equivalents at beginning of period	584	499
Cash and equivalents at end of period	600	345
3.750% Senior Secured Notes due 2029
Cash flows from financing activities
Proceeds from issuance of secured debt	0	535
Senior Term Loan Facility Due In Two Thousand And Twenty Three, Tranche G
Cash flows from financing activities
Proceeds from issuance of secured debt	149	0
Senior Term Loan Facility Due In Two Thousand And Twenty Three, Tranche H
Cash flows from financing activities
Proceeds from issuance of secured debt	147	0
Repayment of Senior Term Loan Facility - Tranche H	(150)	0
Term Loan Mortgage
Cash flows from financing activities
Proceeds from issuance of secured debt	$ 19	$ 0

Derivative Financial Instruments - Schedule of Amounts Recorded in Consolidated Balance Sheets (Detail) - USD ($) $ in Millions	Jun. 30, 2023	Sep. 30, 2022
Derivatives, Fair Value [Line Items]
Foreign exchange derivative contracts in asset	$ 6
Foreign exchange derivative contracts in liability	7
Other Current Assets \| Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Other assets	1	$ 0
Other Current Assets \| Interest Rate Swap
Derivatives, Fair Value [Line Items]
Other assets	7	2
Other Current Liabilities \| Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Other liabilities	(2)	0
Other Noncurrent Assets \| Interest Rate Swap
Derivatives, Fair Value [Line Items]
Other assets	$ 0	$ 16

Acquisition of 300 Entertainment - Narrative (Detail) - 300 Entertainment - USD ($) $ in Millions	Sep. 30, 2022	Dec. 16, 2021
Business Acquisition [Line Items]
Purchase price of selected assets		$ 394
Final purchase price		$ 400
Decrease to intangible assets	$ 1
Decrease to other acquired assets	2
Decrease to other acquired Liabilities	2
Increase in goodwill	$ 3

Fair Value Measurements - Schedule of Fair Value of Financial Instruments (Detail) - USD ($) $ in Millions	Jun. 30, 2023	Sep. 30, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investment with readily determinable fair value	$ 14	$ 36
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investment with readily determinable fair value	14	36
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investment with readily determinable fair value	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investment with readily determinable fair value	0	0
Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contractual obligations	(1)	(1)
Interest Rate Swap \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contractual obligations	0	0
Interest Rate Swap \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contractual obligations	0	0
Interest Rate Swap \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contractual obligations	(1)	(1)
Foreign Exchange Contract \| Other Current Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other assets	1	0
Foreign Exchange Contract \| Other Current Assets \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other assets	0
Foreign Exchange Contract \| Other Current Assets \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other assets	1
Foreign Exchange Contract \| Other Current Assets \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other assets	0
Foreign Exchange Contract \| Other Current Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency forward exchange contract	(2)	0
Foreign Exchange Contract \| Other Current Liabilities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency forward exchange contract	0
Foreign Exchange Contract \| Other Current Liabilities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency forward exchange contract	(2)
Foreign Exchange Contract \| Other Current Liabilities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency forward exchange contract	0
Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investment with readily determinable fair value	7
Interest Rate Swap \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investment with readily determinable fair value	0
Interest Rate Swap \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investment with readily determinable fair value	7
Interest Rate Swap \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investment with readily determinable fair value	0
Interest Rate Swap \| Other Current Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other assets	$ 7	2
Equity investment with readily determinable fair value		2
Interest Rate Swap \| Other Current Assets \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investment with readily determinable fair value		0
Interest Rate Swap \| Other Current Assets \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investment with readily determinable fair value		2
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Prepaid and other current assets
Interest Rate Swap \| Other Current Assets \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investment with readily determinable fair value		0
Interest Rate Swap \| Other Noncurrent Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other assets	$ 0	16
Equity investment with readily determinable fair value		$ 16
Derivative Asset, Statement of Financial Position [Extensible Enumeration]		Other assets
Interest Rate Swap \| Other Noncurrent Assets \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investment with readily determinable fair value		$ 0
Interest Rate Swap \| Other Noncurrent Assets \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investment with readily determinable fair value		16
Interest Rate Swap \| Other Noncurrent Assets \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity investment with readily determinable fair value		$ 0

Debt (Tables)

9 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Schedule of Long-term Debt

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


	June 30, 2023		September 30, 2022
	(in millions)
Revolving Credit Facility (a)	$	—	$	—
Senior Term Loan Facility due 2028	1,295		1,145
2.750% Senior Secured Notes due 2028 (€325 face amount)	354		318
3.750% Senior Secured Notes due 2029	540		540
3.875% Senior Secured Notes due 2030	535		535
2.250% Senior Secured Notes due 2031 (€445 face amount)	485		435
3.000% Senior Secured Notes due 2031	800		800
Term Loan Mortgage	19		—
Total long-term debt, including the current portion	$	4,028	$	3,773
Issuance premium less unamortized discount and unamortized deferred financing costs	(40)		(41)
Total long-term debt, including the current portion, net	$	3,988	$	3,732

______________________________________

(a)Reflects $300 million of commitments under the Revolving Credit Facility, less letters of credit outstanding of approximately $4 million at both June 30, 2023 and September 30, 2022. There were no loans outstanding under the Revolving Credit Facility at June 30, 2023 or September 30, 2022.

- Definition

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://www.xbrl.org/2003/role/exampleRef
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+ Details

Summary of Significant Accounting Policies - Narrative (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue	$ 1,564	$ 1,432	$ 4,451	$ 4,422
Revision of Prior Period, Change in Accounting Principle, Adjustment \| Recorded Music
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue				$ 73

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
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Reference 81: http://www.xbrl.org/2003/role/disclosureRef
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Reference 82: http://www.xbrl.org/2003/role/disclosureRef
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Reference 83: http://www.xbrl.org/2003/role/disclosureRef
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Reference 84: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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Reference 85: http://www.xbrl.org/2003/role/disclosureRef
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Reference 86: http://www.xbrl.org/2003/role/disclosureRef
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Reference 87: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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-Publisher FASB
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Reference 88: http://www.xbrl.org/2003/role/disclosureRef
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Reference 89: http://www.xbrl.org/2003/role/disclosureRef
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Reference 90: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Subparagraph (a)
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Reference 91: http://www.xbrl.org/2003/role/disclosureRef
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Reference 92: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480424/946-10-50-3

+ Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 924
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 32
-Subparagraph (b)
-Publisher FASB
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-4

+ Details

Comprehensive Income

9 Months Ended

Jun. 30, 2023

Equity [Abstract]

Comprehensive Income

Comprehensive income, which is reported in the accompanying condensed consolidated statements of 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, Derivatives and Hedging. The following summary sets forth the changes in the components of accumulated other comprehensive loss, net of related tax benefit of $3 million:


	Foreign Currency Translation Loss (a)		Minimum Pension Liability Adjustment		Deferred Gains (Losses) On Derivative Financial Instruments		Accumulated Other Comprehensive Loss, net
	(in millions)
Balances at September 30, 2022	$	(358)	$	(2)	$	13	$	(347)
Other comprehensive income (loss)	78		—		(8)		70
Balances at June 30, 2023	$	(280)	$	(2)	$	5	$	(277)

______________________________________

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

Segment Information - Schedule of Segment Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Revenue	$ 1,564	$ 1,432	$ 4,451	$ 4,422
Operating income (loss)	189	146	578	551
Amortization of intangible assets	64	69	188	198
Depreciation of property, plant and equipment	22	18	65	59
OIBDA	275	233	831	808
Operating Segments \| Recorded Music
Segment Reporting Information [Line Items]
Revenue	1,282	1,189	3,664	3,722
Operating income (loss)	207	166	641	631
Amortization of intangible assets	41	46	121	133
Depreciation of property, plant and equipment	13	12	39	40
OIBDA	261	224	801	804
Operating Segments \| Music Publishing
Segment Reporting Information [Line Items]
Revenue	283	245	790	704
Operating income (loss)	50	33	151	103
Amortization of intangible assets	23	23	67	65
Depreciation of property, plant and equipment	0	1	2	4
OIBDA	73	57	220	172
Corporate expenses and eliminations
Segment Reporting Information [Line Items]
Revenue	(1)	(2)	(3)	(4)
Operating income (loss)	(68)	(53)	(214)	(183)
Amortization of intangible assets	0	0	0	0
Depreciation of property, plant and equipment	9	5	24	15
OIBDA	$ (59)	$ (48)	$ (190)	$ (168)

Income Taxes	9 Months Ended
Income Taxes	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three and nine months ended June 30, 2023, the Company recorded an income tax expense of $43 million and $112 million, respectively. The income tax expense for the three and nine months ended June 30, 2023 is higher than the expected tax expense at the statutory rate of 21% primarily due to foreign income taxed at rates higher than the United States, including withholding taxes, U.S. state and local taxes, unrecognized tax benefit related to uncertain tax positions, and non-deductible executive compensation under IRC Section 162(m). These charges were partially offset by tax benefits associated with Research and Development (“R&D”) credits, release of U.S. state valuation allowance, and the net impact of GILTI and foreign derived intangible income (“FDII”). For the three and nine months ended June 30, 2022, the Company recorded an income tax expense of $39 million and $148 million, respectively. The income tax expense for the three and nine months ended June 30, 2022 is higher than the expected tax benefit at the statutory tax rate of 21% primarily due to foreign income taxed at rates higher than the United States, including withholding taxes, U.S. state and local taxes, and non-deductible executive compensation under IRC Section 162(m). These charges were partially offset by tax benefits associated with the net impact of GILTI and FDII. The Organization Economic Co-operation and Development (“OECD”) introduced Base Erosion and Profit Shifting (“BEPS”) Pillar 2 rules that impose a global minimum tax rate of 15%. Numerous countries, including European Union member states, have enacted or are expected to enact legislation to be effective as early as January 1, 2024, with general implementation of a global minimum tax by January 1, 2025. We are currently evaluating the potential impact on our consolidated financial statements and related disclosures.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
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-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
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-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Description of Business	9 Months Ended
Description of Business	Jun. 30, 2023
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 entertainment companies. We classify our business interests into two fundamental operations: Recorded Music and Music Publishing. Recorded Music Operations Our Recorded Music business primarily consists of the discovery and development of recording artists and the related marketing, promotion, distribution, sale and licensing of music created by such recording artists. We play an integral role in virtually all aspects of the recorded music value chain from discovering and developing talent to producing, distributing and selling music to marketing and promoting recording artists and their music. Music Publishing Operations While Recorded Music is focused on marketing, promoting, distributing and licensing a particular recording of a musical composition, Music Publishing is an intellectual property business focused on generating revenue from uses of the musical composition itself. In return for promoting, placing, marketing and administering the creative output of a songwriter, or engaging in those activities for other rightsholders, our Music Publishing business shares the revenues generated from use of the musical compositions with the songwriter or other rightsholders.

Debt - Interest Rates (Detail)			9 Months Ended
Debt - Interest Rates (Detail)	Mar. 31, 2023	Mar. 30, 2023	Jun. 30, 2023
Acquisition Corp. \| Federal Funds Effective Swap Rate \| Senior Term Loan Facility due 2020, Tranche G Loans
Debt Instrument [Line Items]
Debt instrument, marginal interest rate			0.50%
Acquisition Corp. \| Federal Funds Effective Swap Rate \| Senior Term Loan Facility due 2020, Tranche H Loans
Debt Instrument [Line Items]
Debt instrument, marginal interest rate			0.50%
Acquisition Corp. \| Base Rate \| Senior Term Loan Facility due 2020, Tranche G Loans
Debt Instrument [Line Items]
Debt instrument, marginal interest rate			1.125%
Term loan base rate plus election rate			1.00%
Additional Interest rate on other overdue amounts			2.00%
Acquisition Corp. \| Base Rate \| Senior Term Loan Facility due 2020, Tranche G Loans \| Minimum
Debt Instrument [Line Items]
Debt instrument, marginal interest rate			1.00%
Acquisition Corp. \| Base Rate \| Senior Term Loan Facility due 2020, Tranche H Loans
Debt Instrument [Line Items]
Debt instrument, marginal interest rate			2.00%
Term loan base rate plus election rate			1.00%
Additional Interest rate on other overdue amounts			2.00%
Acquisition Corp. \| Base Rate \| Senior Term Loan Facility due 2020, Tranche H Loans \| Minimum
Debt Instrument [Line Items]
Debt instrument, marginal interest rate			1.50%
Acquisition Corp. \| Secured Overnight Financing Rate (SOFR) \| Senior Term Loan Facility due 2020, Tranche H Loans
Debt Instrument [Line Items]
Debt instrument, marginal interest rate			3.00%
Acquisition Corp. \| Secured Overnight Financing Rate (SOFR) \| Senior Term Loan Facility due 2020, Tranche H Loans \| Minimum
Debt Instrument [Line Items]
Debt instrument, marginal interest rate			0.50%
Acquisition Corp. \| London Interbank Offered Rate \| Senior Term Loan Facility due 2020, Tranche G Loans
Debt Instrument [Line Items]
Debt instrument, marginal interest rate			2.125%
Revolving Credit Facility \| Eurodollar Applicable Margin Rate \| 2020 Revolving Loans
Debt Instrument [Line Items]
Debt instrument, marginal interest rate	1.375%	1.875%
Revolving Credit Facility \| ABR Applicable Margin Rate \| 2020 Revolving Loans
Debt Instrument [Line Items]
Debt instrument, marginal interest rate	0.375%	0.875%
Revolving Credit Facility \| Acquisition Corp.
Debt Instrument [Line Items]
Term loan base rate plus election rate			1.00%
Interest rate applicable to overdue principal			2.00%
Revolving Credit Facility \| Acquisition Corp. \| Initial Revolving Loans
Debt Instrument [Line Items]
Debt instrument, marginal interest rate			0.75%
Revolving Credit Facility \| Acquisition Corp. \| 2020 Revolving Loans
Debt Instrument [Line Items]
Debt instrument, marginal interest rate			0.875%
Senior secured indebtedness to EBITDA ratio			2.97
Revolving Credit Facility \| Acquisition Corp. \| Federal Funds Effective Swap Rate
Debt Instrument [Line Items]
Debt instrument, marginal interest rate			0.50%
Revolving Credit Facility \| Acquisition Corp. \| London Interbank Offered Rate \| Initial Revolving Loans
Debt Instrument [Line Items]
Debt instrument, marginal interest rate			1.75%
Revolving Credit Facility \| Acquisition Corp. \| London Interbank Offered Rate \| 2020 Revolving Loans
Debt Instrument [Line Items]
Debt instrument, marginal interest rate			1.875%

Goodwill and Intangible Assets - Schedule of Intangible Assets (Detail) - USD ($) $ in Millions	Jun. 30, 2023	Sep. 30, 2022
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Total gross intangible assets subject to amortization	$ 4,660	$ 4,411
Accumulated amortization	(2,465)	(2,172)
Total net intangible assets subject to amortization	2,195	2,239
Intangible assets not subject to amortization:
Trademarks and tradenames	150	145
Total net intangible assets	2,345	2,384
Trademarks and tradenames
Intangible assets not subject to amortization:
Trademarks and tradenames	$ 150	145
Recorded music catalog
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Weighted-Average Useful Life	12 years
Total gross intangible assets subject to amortization	$ 1,397	1,316
Music publishing copyrights
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Weighted-Average Useful Life	25 years
Total gross intangible assets subject to amortization	$ 1,995	1,889
Artist and songwriter contracts
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Weighted-Average Useful Life	13 years
Total gross intangible assets subject to amortization	$ 1,056	1,014
Trademarks
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Weighted-Average Useful Life	14 years
Total gross intangible assets subject to amortization	$ 109	103
Other intangible assets
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Weighted-Average Useful Life	6 years
Total gross intangible assets subject to amortization	$ 103	$ 89

Condensed Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Stockholders' Equity [Abstract]
Dividends (in dollars per share)	$ 0.16	$ 0.15	$ 0.48	$ 0.45

Equity - Narrative (Detail) - USD ($) shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Non-cash stock-based compensation expense	$ 7		$ 42	$ 35
Share-based compensation liability		$ 5		5
Share-Based Payment Arrangement, Tranche Two
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation liability	15		15
Restricted Stock Units (RSUs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Non-cash stock-based compensation expense			12
Restricted Stock Units (RSUs) \| Restructuring Plan
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Non-cash stock-based compensation expense			2
Performance Share Units (PSUs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Non-cash stock-based compensation expense	1		2
Additional Paid-in Capital
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Non-cash stock-based compensation expense			27	$ 30
Additional Paid-in Capital \| Share-Based Payment Arrangement, Tranche Two
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-based compensation liability	5		5
Additional Paid-in Capital \| Restricted Stock Units (RSUs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Non-cash stock-based compensation expense	$ 2		$ 12
Common Stock \| Class A Common Stock
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares issued under the Plan (in shares)			869
Shares issued under Omnibus Incentive Plan (in shares)	17	1	273	187

Revenue Recognition (Tables)

9 Months Ended

Jun. 30, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The Company’s revenue consists of the following categories, which aggregate into the segments – Recorded Music and Music Publishing:


	Three Months Ended June 30,				Nine Months Ended June 30,
	2023		2022		2023		2022
	(in millions)
Revenue by Type
Digital	$	846	$	801	$	2,445	$	2,475
Physical	126		123		377		440
Total Digital and Physical	972		924		2,822		2,915
Artist services and expanded-rights	218		190		555		563
Licensing	92		75		287		244
Total Recorded Music	1,282		1,189		3,664		3,722
Performance	40		45		130		119
Digital	182		144		477		404
Mechanical	16		10		46		37
Synchronization	41		41		126		133
Other	4		5		11		11
Total Music Publishing	283		245		790		704
Intersegment eliminations	(1)		(2)		(3)		(4)
Total Revenues	$	1,564	$	1,432	$	4,451	$	4,422
Revenue by Geographical Location
U.S. Recorded Music	$	557	$	515	$	1,618	$	1,641
U.S. Music Publishing	147		137		415		369
Total U.S.	704		652		2,033		2,010
International Recorded Music	725		674		2,046		2,081
International Music Publishing	136		108		375		335
Total International	861		782		2,421		2,416
Intersegment eliminations	(1)		(2)		(3)		(4)
Total Revenues	$	1,564	$	1,432	$	4,451	$	4,422

Schedule 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, 2023 are as follows:


	Rest of FY23		FY24		FY25		Thereafter		Total
	(in millions)
Remaining performance obligations	$	156	$	457	$	11	$	2	$	626
Total	$	156	$	457	$	11	$	2	$	626

Fair Value Measurements - Schedule of Reconciliation of Net Liabilities Classified as Level 3 (Detail) - Level 3 $ in Millions	9 Months Ended
	Jun. 30, 2023 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ (1)
Additions	0
Reductions	0
Payments	0
Ending balance	$ (1)

Condensed Consolidated Statements of Cash Flows (Parenthetical)	Jun. 30, 2023	Jun. 30, 2022
3.750% Senior Secured Notes due 2029
Interest rate	3.75%	3.75%

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 124	$ 125	$ 285	$ 405
Other comprehensive (loss) income, net of tax:
Foreign currency adjustment	(13)	(52)	78	(102)
Deferred (loss) gain on derivative financial instruments	(3)	5	(8)	26
Other comprehensive (loss) income, net of tax	(16)	(47)	70	(76)
Total comprehensive income	108	78	355	329
Less: Income attributable to noncontrolling interest	(2)	(1)	(7)	(2)
Comprehensive income attributable to Warner Music Group Corp.	$ 106	$ 77	$ 348	$ 327

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

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+ Details

Restructuring - Schedule of Restructuring Accrual Activity (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Restructuring Reserve [Roll Forward]
Restructuring charges	$ 0	$ 0	$ 41	$ 0
Employee Severance
Restructuring Reserve [Roll Forward]
Beginning balance			0
Restructuring charges	0		41
Cash payments			(13)
Ending balance	$ 28		$ 28

Debt

9 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Debt

Debt Capitalization

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


	June 30, 2023		September 30, 2022
	(in millions)
Revolving Credit Facility (a)	$	—	$	—
Senior Term Loan Facility due 2028	1,295		1,145
2.750% Senior Secured Notes due 2028 (€325 face amount)	354		318
3.750% Senior Secured Notes due 2029	540		540
3.875% Senior Secured Notes due 2030	535		535
2.250% Senior Secured Notes due 2031 (€445 face amount)	485		435
3.000% Senior Secured Notes due 2031	800		800
Term Loan Mortgage	19		—
Total long-term debt, including the current portion	$	4,028	$	3,773
Issuance premium less unamortized discount and unamortized deferred financing costs	(40)		(41)
Total long-term debt, including the current portion, net	$	3,988	$	3,732

______________________________________

The Company is the direct parent of Holdings, which is the direct parent of Acquisition Corp. As of June 30, 2023, Acquisition Corp. had issued and outstanding the 2.750% Senior Secured Notes due 2028, the 3.750% Senior Secured Notes due 2029, the 3.875% Senior Secured Notes due 2030, the 2.250% Senior Secured Notes due 2031 and the 3.000% Senior Secured Notes due 2031 (together, the “Acquisition Corp. Notes”).

All of the Acquisition Corp. Notes are guaranteed by all of Acquisition Corp.’s domestic wholly-owned subsidiaries. The guarantee of the Acquisition Corp. Notes by Acquisition Corp.’s domestic wholly-owned subsidiaries is full, unconditional and joint and several. The secured notes are guaranteed on a senior secured basis.

The Company and Holdings are holding companies that conduct substantially all of their business operations through Acquisition Corp. Accordingly, while Acquisition Corp. and its subsidiaries are not currently restricted from distributing funds to the Company and Holdings under the indentures for the Acquisition Corp. Notes or the credit agreements for the Acquisition Corp. Senior Credit Facilities, including the Revolving Credit Facility and the Senior Term Loan Facility, should Acquisition Corp.’s Total Indebtedness to EBITDA Ratio increase above 3.50:1.00 and the term loans not achieve an investment grade rating, the covenants under the Revolving Credit Facility, which are currently suspended, will be reinstated and the ability of the Company and Holdings to obtain funds from their subsidiaries will be restricted by the Revolving Credit Facility. The Company was in compliance with its covenants under its outstanding notes, the Revolving Credit Facility and the Senior Term Loan Facility as of June 30, 2023.

Fiscal 2023 Transactions

Senior Term Loan Facility Amendment

On November 1, 2022, Acquisition Corp. entered into a Seventh Incremental Commitment Amendment (the “Seventh Incremental Commitment Amendment”), with Credit Suisse AG, New York Branch, as Tranche H term lender, and Credit Suisse AG, as administrative agent, and acknowledged by the guarantors party thereto and WMG Holdings Corp., to the Senior Term Loan Credit Agreement, pursuant to which Acquisition Corp. borrowed additional term loans in the amount of $150 million for an aggregate principal amount outstanding under the Senior Term Loan Credit Agreement of $1,295 million. The Seventh Incremental Commitment Amendment was entered into to fund certain deferred payment obligations owing in respect of certain prior acquisitions, to pay fees and expenses relating thereto and for general corporate purposes.

Term Loan Mortgage Agreement

On January 27, 2023, Acquisition Corp., along with Warner Records Inc. and Warner Music Inc., entered into an agreement with Truist Bank, which provides for a term loan of $19 million (“Term Loan Mortgage”) secured by the Company’s real estate properties in Nashville, Tennessee. Interest on the Term Loan Mortgage will accrue at a rate of 30-day SOFR plus the applicable margin of 1.40% subject to a zero floor. Equal principal installments and interest are due monthly.

Revolving Credit Agreement Amendment

On March 23, 2023, Acquisition Corp. entered into an amendment (the “Fourth Revolving Credit Agreement Amendment”) to the Revolving Credit Agreement among Acquisition Corp. and Credit Suisse AG, as administrative agent, governing Acquisition Corp.’s revolving credit facility with Credit Suisse AG, as administrative agent, and the other financial institutions and lenders from time to time party thereto. The Fourth Revolving Credit Agreement Amendment provides for the replacement of LIBOR-based rates with a SOFR-based rate and other rates for alternate currencies, such as EURIBOR and SONIA. We utilized the expedients set forth in ASC Topic 848, including those relating to derivative instruments used in hedging relationships. This transition does not result in a financial impact to our consolidated financial statements.

May 2023 Senior Term Loan Credit Agreement Amendment

On May 10, 2023, Acquisition Corp. entered into an amendment (the “Senior Term Loan Credit Agreement Amendment”) to the Senior Term Loan Credit Agreement among Acquisition Corp., the guarantors party thereto and Credit Suisse AG, as administrative agent. The Senior Term Loan Credit Agreement Amendment provides for the replacement of LIBOR-based rates with a SOFR-based rate. We utilized the expedients set forth in ASC Topic 848, including those relating to derivative instruments used in hedging relationships. This transition does not result in a financial impact to our consolidated financial statements.

June 2023 Senior Term Loan Credit Agreement Amendment

On June 30, 2023, Acquisition Corp. entered into an increase supplement (the “Third Increase Supplement”) to the Senior Term Loan Credit Agreement among Acquisition Corp., the guarantors party thereto, the lender party thereto and Credit Suisse AG, as administrative agent, pursuant to which Acquisition Corp. has borrowed additional Tranche G term loans in an amount equal to $150 million, the proceeds of which have been used to prepay the Tranche H term loans in full (see “Senior Term Loan Facility Amendment”), for an aggregate principal amount outstanding under the Senior Term Loan Credit Agreement of $1,295 million. The Company recorded a loss on extinguishment of debt of approximately $4 million for the three and nine months ended June 30, 2023, which represents the remaining unamortized discount and deferred financing costs of the Tranche H term loan.

Interest Rates

The loans under the Revolving Credit Facility bear interest at Acquisition Corp.’s election at a rate equal to (i) the secured overnight financing rate as administered by the Federal Reserve Bank of New York for the applicable interest period (“Revolving Term SOFR”), and other rates for alternate currencies, such as EURIBOR and SONIA, as provided in the Revolving Credit Agreement, subject to a zero floor, plus 1.75% per annum in the case of Initial Revolving Loans (as defined in the Revolving Credit Agreement), or 1.875% per annum in the case of 2020 Revolving Loans (as defined in the Revolving Credit Agreement), 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 Term SOFR plus 1.0% per annum, plus, in each case, 0.75% per annum in the case of Initial Revolving Loans, or 0.875% per annum in the case of 2020 Revolving Loans; provided that, in respect of 2020 Revolving Loans, the applicable margin with respect to such loans is subject to adjustment as set forth in the pricing grid in the Revolving Credit Agreement. Based on the Senior Secured Indebtedness to EBITDA Ratio of 2.97x at June 30, 2023, the applicable margin for SOFR loans and RFR loans would be 1.375% instead of 1.875% and the applicable margin for ABR loans would be 0.375% instead of 0.875% in the case of 2020 Revolving Loans. 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 Tranche G loans under the Senior Term Loan Facility bear interest at Acquisition Corp.’s election at a rate equal to (i) the forward-looking term rate based on the secured overnight financing rate as administered by the Federal Reserve Bank of New York for the applicable interest period (“Term SOFR”) plus an adjustment based on the applicable interest period 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 SOFR, plus 1.00% per annum, subject to a 1.00% floor, 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 Tranche H loans under the Senior Term Loan Facility, which were repaid in full on June 30, 2023, bore interest at Acquisition Corp.’s election at a rate equal to (i) the forward-looking term rate based on the secured overnight financing rate as administered by the Federal Reserve Bank of New York for the applicable interest period (“Term SOFR”) subject to a 0.50% floor, plus 3.00% 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 SOFR, plus 1.00% per annum, subject to a 1.50% floor, plus, in each case, 2.00% per annum. If there was a payment default at any time, then the interest rate applicable to overdue principal and interest would have been the rate otherwise applicable to such loan plus 2.0% per annum. Default interest was also 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 Term Loan Mortgage bears interest at a rate of 30-day SOFR plus the applicable margin of 1.40%, subject to a zero floor.

The Company has entered into, and in the future may enter into, interest rate swaps to manage interest rate risk. Please refer to Note 13 to our condensed consolidated financial statements for further discussion.

Maturity of Senior Term Loan Facility

The loans outstanding under the Senior Term Loan Facility mature on January 20, 2028.

Maturity of Revolving Credit Facility

The maturity date of the Revolving Credit Facility is April 3, 2025.

Maturities of Senior Secured Notes

As of June 30, 2023, there are no scheduled maturities of notes until 2028, when $354 million is scheduled to mature. Thereafter, $2.360 billion is scheduled to mature.

Maturity of Term Loan Mortgage

The maturity date of the Term Loan Mortgage is January 27, 2033, subject to a call option exercisable by Truist Bank at any time after January 27, 2028 if certain criteria relating to the Company’s creditworthiness are met.

Interest Expense, net

Total interest expense, net was $38 million and $32 million for the three months ended June 30, 2023 and 2022, respectively, and $105 million and $94 million for the nine months ended June 30, 2023 and 2022, respectively. Interest expense, net includes interest expense related to our outstanding indebtedness of $41 million and $32 million for the three months ended June 30, 2023 and 2022, respectively, and $115 million and $93 million for the nine months ended June 30, 2023 and 2022, respectively. The weighted-average interest rate of the Company’s total debt was 4.1% at June 30, 2023, 3.5% at September 30, 2022 and 3.3% at June 30, 2022.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Derivative Financial Instruments - Narrative (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Sep. 30, 2022
Derivatives, Fair Value [Line Items]
Companys hedged interest rate transactions			1 year
Deferred (losses) gains on derivative financial instruments	$ (3)	$ 5	$ (8)	$ 26
Interest Rate Swap
Derivatives, Fair Value [Line Items]
Outstanding hedge contracts	500		500		$ 820
Deferred gain (loss) on derivative financial instruments			5
Deferred (losses) gains on derivative financial instruments					$ 13
Unrealized pre-tax (losses) gains on derivative financial instruments			(11)	34
Foreign Exchange Contract \| Other Income (Expense)
Derivatives, Fair Value [Line Items]
Realized foreign exchange forward contract gain (loss)			(6)	6
Unrealized foreign exchange forward contract gain (loss)			(1)	$ 3
Sale
Derivatives, Fair Value [Line Items]
Outstanding hedge contracts	172		172
Purchase
Derivatives, Fair Value [Line Items]
Outstanding hedge contracts	$ 98		$ 98

Additional Financial Information - Narrative (Detail) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2023 USD ($) $ / shares	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) $ / shares	Jun. 30, 2022 USD ($)	May 10, 2023 $ / shares
Dividends Payable [Line Items]
Interest payments	$ 29	$ 21	$ 104	$ 78
Income and withholding taxes paid	49	38	166	104
Net gain on divestiture	$ 0	$ 0	$ 41	0
Debt instrument, covenant, total indebtedness to EBITDA ratio	3.50		3.50
Dividends paid	$ 84		$ 251	235
Dividends paid (in dollars per share) \| $ / shares	$ 0.16		$ 0.48
Noncash investing activities related to acquisition of music publishing rights and music catalogs				$ 125
Common Stock
Dividends Payable [Line Items]
Cash dividends declared (in dollars per share) \| $ / shares					$ 0.16

Revenue Recognition - Narrative (Detail) - USD ($) $ in Millions	9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Refund liabilities	$ 22		$ 19
Uncollectible accounts, reserves	19		$ 19
Deferred revenue increased related to cash received from customers	323
Revenue recognized related to deferred revenue	350
Revenue recognized from performance obligations satisfied in previous periods	$ 68	$ 55

Derivative Financial Instruments

9 Months Ended

Jun. 30, 2023

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.

The Company’s hedged interest rate transactions as of June 30, 2023 are expected to be recognized within one year. 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 19, “Fair Value Measurements,” to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2022. Interest income or expense related to interest rate swaps is recognized in interest income (expense), net in the same period as the related expense is recognized. The ineffective portions of interest rate swaps are recognized in other income (expense) in the period measured.

As of June 30, 2023, the Company had outstanding foreign currency forward exchange contracts for the sale of $172 million and the purchase of $98 million of foreign currencies at fixed rates that will be settled by September 2023.

As of June 30, 2023, the Company had outstanding $500 million in a pay-fixed receive-variable interest rate swap with $5 million of unrealized deferred gains in comprehensive income related to the interest rate swap. As of September 30, 2022, the Company had outstanding $820 million in pay-fixed receive-variable interest rate swaps with $13 million of unrealized deferred gains in comprehensive income related to the interest rate swaps.

The Company recorded realized pre-tax losses of $6 million and unrealized pre-tax losses of $1 million related to its foreign currency forward exchange contracts in the condensed consolidated statement of operations as other expense for the nine months ended June 30, 2023. The Company recorded realized pre-tax gains of $6 million and unrealized pre-tax gains of $3 million related to its foreign currency forward exchange contracts in the condensed consolidated statement of operations as other income for the nine months ended June 30, 2022.

The 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, 2023 were $11 million. The pre-tax gains 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, 2022 were $34 million.

The following is a summary of amounts recorded in the consolidated balance sheets pertaining to the Company’s derivative instruments at June 30, 2023 and September 30, 2022:


	June 30, 2023		September 30, 2022
	(in millions)
Other Current Assets:
Foreign Currency Forward Exchange Contracts (a)	$	1	$	—
Interest Rate Swap	7		2
Other Current Liabilities:
Foreign Currency Forward Exchange Contracts (a)	(2)		—
Other Noncurrent Assets:
Interest Rate Swap	—		16

______________________________________

(a)Includes $6 million and $7 million of foreign currency forward exchange contracts in asset and liability positions, respectively, which net to $1 million of current assets and $2 million of current liabilities

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Interim Financial Statements The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“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 months ended June 30, 2023 are not necessarily indicative of the results that may be expected for the fiscal year ending September 30, 2023. The consolidated balance sheet at September 30, 2022 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, 2022 (File No. 001-32502). Change in Fiscal Year End On September 29, 2022, the Board of Directors approved a change, effective for the 2023 fiscal year, to the Company’s fiscal year from a modified 52-53-week calendar, in which reporting periods ended on the last Friday of the calendar quarter, to a reporting calendar in which the reporting periods end on the last day of the calendar quarter. Effective for the 2023 fiscal year, the Company’s fiscal year will begin on October 1 and end on September 30 of each year. Prior to the start of the 2023 fiscal year, the Company maintained a 52-53 week fiscal year ending on the last Friday in each reporting period. The fiscal year ended September 30, 2022 included 53 weeks, with the additional week falling in the fiscal quarter ended December 31, 2021. Accordingly, the results of operations for the nine months ended June 30, 2022 reflect 40 weeks, or 280 days, compared to 273 days for the nine months ended June 30, 2023. For the nine months ended June 30, 2022, the revenue benefit of the additional week was approximately $73 million, primarily reflected in Recorded Music streaming revenue. 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 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 The Company uses the estimated annual effective tax rate method in computing its interim tax provision. Certain items, including those deemed to be unusual and infrequent are excluded from the estimated annual effective tax rate. In such cases, the actual tax expense or benefit is reported in the same period as the related item. Certain tax effects are also not reflected in the estimated annual effective tax rate, primarily certain changes in the realizability of deferred tax assets and uncertain tax positions, and are recorded in the period in which the change occurs. Global Intangible Low-Taxed Income (“GILTI”) imposes U.S. taxes on the excess of a deemed return on tangible assets of certain foreign subsidiaries. The Company made an election to recognize GILTI tax in the specific period in which it occurs. New Accounting Pronouncements Recently Adopted Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”). The amendment provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by the discontinuation of the London Interbank Offered Rate (“LIBOR”) or by another reference rate expected to be discontinued because of reference rate reform, if certain criteria are met. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope, which clarified that certain optional expedients and exceptions in Topic 848 apply to derivative instruments that are affected by the discounting transition due to reference rate reform. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date, which extended the period in which Topic 848 may be applied until December 31, 2024. These ASUs were effective upon issuance and may be applied prospectively to contract modifications and hedging relationships entered into or evaluated through December 31, 2024. The Revolving Credit Facility and Senior Term Loan Facility were amended during the nine months ended June 30, 2023 as further described in Note 8. The Company is in the process of evaluating the effect that the adoption of these standards will have on its consolidated financial statements, but does not expect it will have a material effect. Accounting Pronouncements Not Yet Adopted In March 2023, the FASB issued ASU 2023-01, Leases (Topic 842): Common Control Arrangements (“ASU 2023-01”). The amendment clarifies the accounting for leasehold improvements for leases between entities under common control. Specifically, the ASU requires that leasehold improvements associated with common control leases be both: (1) amortized by the lessee over the useful life of the leasehold improvement to the common control group, regardless of the lease term, and (2) accounted for as an adjustment to equity when leasehold improvements are transferred between entities under common control when the lessee no longer controls the leasehold improvements. The amendments in this ASU are effective for fiscal years beginning after December 15, 2023. The Company is in the process of evaluating the effect that the adoption of these standards will have on its consolidated financial statements.

Condensed Consolidated Statements of Operations - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Jun. 30, 2023

Jun. 30, 2022

Jun. 30, 2023

Jun. 30, 2022

Revenue

$ 1,564

$ 1,432

$ 4,451

$ 4,422

Costs and expenses:

Cost of revenue

(850)

(766)

(2,332)

(2,281)

Selling, general and administrative expenses

^[1]

(461)

(451)

(1,353)

(1,392)

Restructuring

(41)

Amortization expense

(64)

(69)

(188)

(198)

Total costs and expenses

(1,375)

(1,286)

(3,914)

(3,871)

Net gain on divestiture

Operating income

189

146

578

551

Loss on extinguishment of debt

(4)

Interest expense, net

(38)

(32)

(105)

(94)

Other income (expense)

(72)

Income before income taxes

167

164

397

553

Income tax expense

(43)

(39)

(112)

(148)

Net income

124

125

285

405

Less: Income attributable to noncontrolling interest

(2)

(1)

(7)

(2)

Net income attributable to Warner Music Group Corp.

122

124

278

403

Class A Common Stock

Costs and expenses:

Net income attributable to Warner Music Group Corp.

$ 34

$ 77

$ 108

Net income per share attributable to common stockholders:

Basic (in dollars per share)

$ 0.23

$ 0.24

$ 0.53

$ 0.77

Diluted (in dollars per share)

$ 0.23

$ 0.24

$ 0.53

$ 0.77

Weighted average common shares:

Basic (in shares)

138,290,000

137,165,000

137,990,000

132,494,000

Diluted (in shares)

138,290,000

137,165,000

137,990,000

132,494,000

Class B Common Stock

Costs and expenses:

Net income attributable to Warner Music Group Corp.

$ 88

$ 90

$ 201

$ 295

Net income per share attributable to common stockholders:

Basic (in dollars per share)

$ 0.23

$ 0.24

$ 0.53

$ 0.77

Diluted (in dollars per share)

$ 0.23

$ 0.24

$ 0.53

$ 0.77

Weighted average common shares:

Basic (in shares)

377,650,000

382,178,000

Diluted (in shares)

377,650,000

382,178,000

[1]	Includes depreciation expense of $(461) and $(451) for the three months ended June 30, 2023 and June 30, 2022, respectively, and $(1,353) and $(1,392) for the nine months ended June 30, 2023 and June 30, 2022, respectively.

Revenue Recognition - Schedule of Revenues Expected to be Recognized in Future Related to Performance Obligations (Detail) $ in Millions	Jun. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 626
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 156
Revenue, remaining performance obligation, expected timing of satisfaction, period	3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 457
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 11
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 2
Revenue, remaining performance obligation, expected timing of satisfaction, period

Segment Information

9 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Segment Information

Segment InformationBased 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 Note 2, “Summary of Significant Accounting Policies,” to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2022. 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, 2023
Revenues	$	1,282	$	283	$	(1)	$	1,564
Operating income (loss)	207		50		(68)		189
Amortization of intangible assets	41		23		—		64
Depreciation of property, plant and equipment	13		—		9		22
OIBDA	261		73		(59)		275
June 30, 2022
Revenues	$	1,189	$	245	$	(2)	$	1,432
Operating income (loss)	166		33		(53)		146
Amortization of intangible assets	46		23		—		69
Depreciation of property, plant and equipment	12		1		5		18
OIBDA	224		57		(48)		233

	Recorded Music		Music Publishing		Corporate expenses and eliminations		Total
Nine Months Ended	(in millions)
June 30, 2023
Revenues	$	3,664	$	790	$	(3)	$	4,451
Operating income (loss)	641		151		(214)		578
Amortization of intangible assets	121		67		—		188
Depreciation of property, plant and equipment	39		2		24		65
OIBDA	801		220		(190)		831
June 30, 2022
Revenues	$	3,722	$	704	$	(4)	$	4,422
Operating income (loss)	631		103		(183)		551
Amortization of intangible assets	133		65		—		198
Depreciation of property, plant and equipment	40		4		15		59
OIBDA	804		172		(168)		808

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

Debt - Schedule of Long-term Debt (Detail)	Jun. 30, 2023 USD ($)	Jun. 30, 2023 EUR (€)	Jan. 27, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2022 EUR (€)	Jun. 30, 2022
Debt Instrument [Line Items]
Total long-term debt, including the current portion	$ 4,028,000,000			$ 3,773,000,000
Issuance premium less unamortized discount and unamortized deferred financing costs	(40,000,000)			(41,000,000)
Total long-term debt, including the current portion, net	$ 3,988,000,000			3,732,000,000
3.750% Senior Secured Notes due 2029
Debt Instrument [Line Items]
Interest rate	3.75%	3.75%				3.75%
Acquisition Corp. \| Senior Term Loan Facility due 2023
Debt Instrument [Line Items]
Total long-term debt, including the current portion	$ 1,295,000,000			$ 1,145,000,000
Acquisition Corp. \| 2.750% Senior Secured Notes due 2028
Debt Instrument [Line Items]
Interest rate	2.75%	2.75%		2.75%	2.75%
Face or principal amount of debt instrument \| €		€ 325,000,000			€ 325,000,000
Total long-term debt, including the current portion	$ 354,000,000			$ 318,000,000
Acquisition Corp. \| 3.750% Senior Secured Notes due 2029
Debt Instrument [Line Items]
Interest rate	3.75%	3.75%		3.75%	3.75%
Total long-term debt, including the current portion	$ 540,000,000			$ 540,000,000
Acquisition Corp. \| 3.875% Senior Secured Notes due 2030
Debt Instrument [Line Items]
Interest rate	3.875%	3.875%		3.875%	3.875%
Total long-term debt, including the current portion	$ 535,000,000			$ 535,000,000
Acquisition Corp. \| 2.250% Senior Secured Notes due 2031
Debt Instrument [Line Items]
Interest rate	2.25%	2.25%		2.25%	2.25%
Face or principal amount of debt instrument \| €		€ 445,000,000			€ 445,000,000
Total long-term debt, including the current portion	$ 485,000,000			$ 435,000,000
Acquisition Corp. \| 3.000% Senior Secured Notes due 2031
Debt Instrument [Line Items]
Interest rate	3.00%	3.00%		3.00%	3.00%
Total long-term debt, including the current portion	$ 800,000,000			$ 800,000,000
Acquisition Corp. \| Term Loan Mortgage
Debt Instrument [Line Items]
Face or principal amount of debt instrument			$ 19,000,000
Total long-term debt, including the current portion	19,000,000			0
Acquisition Corp. \| Revolving Credit Facility
Debt Instrument [Line Items]
Total long-term debt, including the current portion	0			0
Commitments under revolving credit facility	300,000,000			300,000,000
Letters of credit outstanding	4,000,000			4,000,000
Revolving credit facility outstanding	$ 0			$ 0

Earnings per Share - Schedule of Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator
Net income attributable to Warner Music Group Corp.	$ 122	$ 124	$ 278	$ 403
Class A Common Stock
Numerator
Net income attributable to Warner Music Group Corp.	34	34	77	108
Less: Net income attributable to participating securities	(2)	(2)	(4)	(5)
Net income attributable to common stockholders	$ 32	$ 32	$ 73	$ 103
Denominator
Weighted average shares outstanding, basic (in shares)	138,290,000	137,165,000	137,990,000	132,494,000
Weighted average shares outstanding, diluted (in shares)	138,290,000	137,165,000	137,990,000	132,494,000
Basic (in dollars per share)	$ 0.23	$ 0.24	$ 0.53	$ 0.77
Diluted (in dollars per share)	$ 0.23	$ 0.24	$ 0.53	$ 0.77
Class B Common Stock
Numerator
Net income attributable to Warner Music Group Corp.	$ 88	$ 90	$ 201	$ 295
Less: Net income attributable to participating securities	0	0	0	0
Net income attributable to common stockholders	$ 88	$ 90	$ 201	$ 295
Denominator
Weighted average shares outstanding, basic (in shares)	377,650,000	377,650,000	377,650,000	382,178,000
Weighted average shares outstanding, diluted (in shares)	377,650,000	377,650,000	377,650,000	382,178,000
Basic (in dollars per share)	$ 0.23	$ 0.24	$ 0.53	$ 0.77
Diluted (in dollars per share)	$ 0.23	$ 0.24	$ 0.53	$ 0.77

Revenue Recognition - Schedule of Disaggregation of Revenue (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Total Revenues	$ 1,564	$ 1,432	$ 4,451	$ 4,422
Operating Segments \| U.S.
Disaggregation of Revenue [Line Items]
Total Revenues	704	652	2,033	2,010
Operating Segments \| International
Disaggregation of Revenue [Line Items]
Total Revenues	861	782	2,421	2,416
Intersegment eliminations
Disaggregation of Revenue [Line Items]
Total Revenues	(1)	(2)	(3)	(4)
Recorded Music \| Operating Segments
Disaggregation of Revenue [Line Items]
Total Revenues	1,282	1,189	3,664	3,722
Recorded Music \| Operating Segments \| U.S.
Disaggregation of Revenue [Line Items]
Total Revenues	557	515	1,618	1,641
Recorded Music \| Operating Segments \| International
Disaggregation of Revenue [Line Items]
Total Revenues	725	674	2,046	2,081
Recorded Music \| Digital \| Operating Segments
Disaggregation of Revenue [Line Items]
Total Revenues	846	801	2,445	2,475
Recorded Music \| Physical \| Operating Segments
Disaggregation of Revenue [Line Items]
Total Revenues	126	123	377	440
Recorded Music \| Total Digital and Physical \| Operating Segments
Disaggregation of Revenue [Line Items]
Total Revenues	972	924	2,822	2,915
Recorded Music \| Artist services and expanded-rights \| Operating Segments
Disaggregation of Revenue [Line Items]
Total Revenues	218	190	555	563
Recorded Music \| Licensing \| Operating Segments
Disaggregation of Revenue [Line Items]
Total Revenues	92	75	287	244
Music Publishing \| Operating Segments
Disaggregation of Revenue [Line Items]
Total Revenues	283	245	790	704
Music Publishing \| Operating Segments \| U.S.
Disaggregation of Revenue [Line Items]
Total Revenues	147	137	415	369
Music Publishing \| Operating Segments \| International
Disaggregation of Revenue [Line Items]
Total Revenues	136	108	375	335
Music Publishing \| Digital \| Operating Segments
Disaggregation of Revenue [Line Items]
Total Revenues	182	144	477	404
Music Publishing \| Performance \| Operating Segments
Disaggregation of Revenue [Line Items]
Total Revenues	40	45	130	119
Music Publishing \| Mechanical \| Operating Segments
Disaggregation of Revenue [Line Items]
Total Revenues	16	10	46	37
Music Publishing \| Synchronization \| Operating Segments
Disaggregation of Revenue [Line Items]
Total Revenues	41	41	126	133
Music Publishing \| Other \| Operating Segments
Disaggregation of Revenue [Line Items]
Total Revenues	$ 4	$ 5	$ 11	$ 11

Comprehensive Income (Tables)

9 Months Ended

Jun. 30, 2023

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 tax benefit of $3 million:


	Foreign Currency Translation Loss (a)		Minimum Pension Liability Adjustment		Deferred Gains (Losses) On Derivative Financial Instruments		Accumulated Other Comprehensive Loss, net
	(in millions)
Balances at September 30, 2022	$	(358)	$	(2)	$	13	$	(347)
Other comprehensive income (loss)	78		—		(8)		70
Balances at June 30, 2023	$	(280)	$	(2)	$	5	$	(277)

______________________________________

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

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Jun. 30, 2023
Accounting Policies [Abstract]
Interim Financial Statements	Interim Financial Statements The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“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 months ended June 30, 2023 are not necessarily indicative of the results that may be expected for the fiscal year ending September 30, 2023. The consolidated balance sheet at September 30, 2022 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, 2022 (File No. 001-32502).
Change in Fiscal Year End	Change in Fiscal Year End On September 29, 2022, the Board of Directors approved a change, effective for the 2023 fiscal year, to the Company’s fiscal year from a modified 52-53-week calendar, in which reporting periods ended on the last Friday of the calendar quarter, to a reporting calendar in which the reporting periods end on the last day of the calendar quarter. Effective for the 2023 fiscal year, the Company’s fiscal year will begin on October 1 and end on September 30 of each year. Prior to the start of the 2023 fiscal year, the Company maintained a 52-53 week fiscal year ending on the last Friday in each reporting period. The fiscal year ended September 30, 2022 included 53 weeks, with the additional week falling in the fiscal quarter ended December 31, 2021. Accordingly, the results of operations for the nine months ended June 30, 2022 reflect 40 weeks, or 280 days, compared to 273 days for the nine months ended June 30, 2023. For the nine months ended June 30, 2022, the revenue benefit of the additional week was approximately $73 million, primarily reflected in Recorded Music streaming revenue.
Basis of Consolidation	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.
Income Taxes	Income Taxes The Company uses the estimated annual effective tax rate method in computing its interim tax provision. Certain items, including those deemed to be unusual and infrequent are excluded from the estimated annual effective tax rate. In such cases, the actual tax expense or benefit is reported in the same period as the related item. Certain tax effects are also not reflected in the estimated annual effective tax rate, primarily certain changes in the realizability of deferred tax assets and uncertain tax positions, and are recorded in the period in which the change occurs. Global Intangible Low-Taxed Income (“GILTI”) imposes U.S. taxes on the excess of a deemed return on tangible assets of certain foreign subsidiaries. The Company made an election to recognize GILTI tax in the specific period in which it occurs.
New Accounting Pronouncements	New Accounting Pronouncements Recently Adopted Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”). The amendment provides optional expedients and exceptions for applying U.S. GAAP to contracts, hedging relationships and other transactions affected by the discontinuation of the London Interbank Offered Rate (“LIBOR”) or by another reference rate expected to be discontinued because of reference rate reform, if certain criteria are met. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope, which clarified that certain optional expedients and exceptions in Topic 848 apply to derivative instruments that are affected by the discounting transition due to reference rate reform. In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848): Deferral of the Sunset Date, which extended the period in which Topic 848 may be applied until December 31, 2024. These ASUs were effective upon issuance and may be applied prospectively to contract modifications and hedging relationships entered into or evaluated through December 31, 2024. The Revolving Credit Facility and Senior Term Loan Facility were amended during the nine months ended June 30, 2023 as further described in Note 8. The Company is in the process of evaluating the effect that the adoption of these standards will have on its consolidated financial statements, but does not expect it will have a material effect. Accounting Pronouncements Not Yet Adopted In March 2023, the FASB issued ASU 2023-01, Leases (Topic 842): Common Control Arrangements (“ASU 2023-01”). The amendment clarifies the accounting for leasehold improvements for leases between entities under common control. Specifically, the ASU requires that leasehold improvements associated with common control leases be both: (1) amortized by the lessee over the useful life of the leasehold improvement to the common control group, regardless of the lease term, and (2) accounted for as an adjustment to equity when leasehold improvements are transferred between entities under common control when the lessee no longer controls the leasehold improvements. The amendments in this ASU are effective for fiscal years beginning after December 15, 2023. The Company is in the process of evaluating the effect that the adoption of these standards will have on its consolidated financial statements.

- Definition

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 + Details

Derivative Financial Instruments (Tables)

9 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments Recorded in Consolidated Balance Sheets

The following is a summary of amounts recorded in the consolidated balance sheets pertaining to the Company’s derivative instruments at June 30, 2023 and September 30, 2022:


	June 30, 2023		September 30, 2022
	(in millions)
Other Current Assets:
Foreign Currency Forward Exchange Contracts (a)	$	1	$	—
Interest Rate Swap	7		2
Other Current Liabilities:
Foreign Currency Forward Exchange Contracts (a)	(2)		—
Other Noncurrent Assets:
Interest Rate Swap	—		16

______________________________________

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2023	Sep. 30, 2022
Current assets:
Cash and equivalents	$ 600	$ 584
Accounts receivable, net of allowances of $19 million and $19 million	1,113	984
Inventories	116	108
Royalty advances expected to be recouped within one year	390	372
Prepaid and other current assets	98	91
Total current assets	2,317	2,139
Royalty advances expected to be recouped after one year	584	503
Property, plant and equipment, net of accumulated depreciation of $523 million and $461 million	454	415
Operating lease right-of-use assets, net	252	226
Goodwill	1,962	1,920
Intangible assets subject to amortization, net	2,195	2,239
Intangible assets not subject to amortization	150	145
Deferred tax assets, net	27	29
Other assets	209	212
Total assets	8,150	7,828
Current liabilities:
Accounts payable	249	268
Accrued royalties	2,239	1,918
Accrued liabilities	422	457
Accrued interest	29	17
Operating lease liabilities, current	41	40
Deferred revenue	226	423
Other current liabilities	84	245
Total current liabilities	3,290	3,368
Long-term debt	3,988	3,732
Operating lease liabilities, noncurrent	264	241
Deferred tax liabilities, net	205	220
Other noncurrent liabilities	104	99
Total liabilities	7,851	7,660
Equity:
Additional paid-in capital	2,007	1,975
Accumulated deficit	(1,450)	(1,477)
Accumulated other comprehensive loss, net	(277)	(347)
Total Warner Music Group Corp. equity	281	152
Noncontrolling interest	18	16
Total equity	299	168
Total liabilities and equity	8,150	7,828
Class A Common Stock
Equity:
Common stock	0	0
Class B Common Stock
Equity:
Common stock	$ 1	$ 1

Earnings per Share

9 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Earnings per Share

Earnings per ShareThe Company utilizes the two-class method to report earnings per share. Basic earnings per share is computed by dividing net income available to each class of stock by the weighted average number of outstanding common shares for each class of stock. Diluted earnings per share is computed by dividing net income available to each class of stock by the weighted average number of outstanding common shares, plus dilutive potential common shares, which is calculated using the treasury-stock method. The potentially dilutive common shares did not have a dilutive effect on the Company’s EPS calculation for the three and nine months ended June 30, 2023 and 2022, respectively.

The following table sets forth the calculation of basic and diluted net income per common share under the two-class method for the three and nine months ended June 30, 2023 and 2022 (in millions, except share amounts, which are reflected in thousands, and per share data):


	Three Months Ended June 30,
	2023				2022
	Class A		Class B		Class A		Class B
Basic and Diluted EPS:
Numerator
Net income attributable to Warner Music Group Corp.	$	34	$	88	$	34	$	90
Less: Net income attributable to participating securities	(2)		—		(2)		—
Net income attributable to common stockholders	$	32	$	88	$	32	$	90
Denominator
Weighted average shares outstanding	138,290		377,650		137,165		377,650
Basic and Diluted EPS	$	0.23	$	0.23	$	0.24	$	0.24

	Nine Months Ended June 30,
	2023				2022
	Class A		Class B		Class A		Class B
Basic and Diluted EPS:
Numerator
Net income attributable to Warner Music Group Corp.	$	77	$	201	$	108	$	295
Less: Net income attributable to participating securities	(4)		—		(5)		—
Net income attributable to common stockholders	$	73	$	201	$	103	$	295
Denominator
Weighted average shares outstanding	137,990		377,650		132,494		382,178
Basic and Diluted EPS	$	0.53	$	0.53	$	0.77	$	0.77

Restructuring - Narrative (Details) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
Restructuring - Narrative (Details) $ in Millions	Mar. 31, 2023 employee	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 0	$ 0	$ 41	$ 0
Employee Severance
Restructuring Cost and Reserve [Line Items]
Expected number of positions to eliminated \| employee	270
Expected number of positions to eliminated as a percentage	4.00%
Expected restructuring and related cost		41		41
Restructuring charges		$ 0		$ 41

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Segment Information - Narrative (Detail)	9 Months Ended
Segment Information - Narrative (Detail)	Jun. 30, 2023 segment
Segment Reporting [Abstract]
Number of fundamental operations	2

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesFrom time to time the Company is involved in claims and legal proceedings that arise in the ordinary course of business. The Company is currently subject to several such claims and legal proceedings. Based on currently available information, the Company does not believe that resolution of pending matters will have a material adverse effect on its financial condition, cash flows or results of operations. However, litigation is subject to inherent uncertainties, and there can be no assurances that the Company’s defenses will be successful or that any such lawsuit or claim would not have a material adverse impact on the Company’s business, financial condition, cash flows and results of operations in a particular period. Any claims or proceedings against the Company, whether meritorious or not, can have an adverse impact because of defense costs, diversion of management and operational resources, negative publicity and other factors.

Fair Value Measurements - Narrative (Detail) - USD ($) $ in Millions	Jun. 30, 2023	Sep. 30, 2022
Level 2 measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of debt	$ 3,596	$ 3,181

Goodwill and Intangible Assets - Schedule of Changes in Goodwill for Each Reportable Segment (Detail) $ in Millions	9 Months Ended
	Jun. 30, 2023 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 1,920
Acquisitions	8
Other adjustments	34
Ending balance	1,962
Recorded Music
Goodwill [Roll Forward]
Beginning balance	1,456
Acquisitions	8
Other adjustments	34
Ending balance	1,498
Music Publishing
Goodwill [Roll Forward]
Beginning balance	464
Acquisitions	0
Other adjustments	0
Ending balance	$ 464

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Earnings per Share (Tables)

9 Months Ended

Jun. 30, 2023

Earnings Per Share [Abstract]

Schedule of Earnings Per Share


	Three Months Ended June 30,
	2023				2022
	Class A		Class B		Class A		Class B
Basic and Diluted EPS:
Numerator
Net income attributable to Warner Music Group Corp.	$	34	$	88	$	34	$	90
Less: Net income attributable to participating securities	(2)		—		(2)		—
Net income attributable to common stockholders	$	32	$	88	$	32	$	90
Denominator
Weighted average shares outstanding	138,290		377,650		137,165		377,650
Basic and Diluted EPS	$	0.23	$	0.23	$	0.24	$	0.24

	Nine Months Ended June 30,
	2023				2022
	Class A		Class B		Class A		Class B
Basic and Diluted EPS:
Numerator
Net income attributable to Warner Music Group Corp.	$	77	$	201	$	108	$	295
Less: Net income attributable to participating securities	(4)		—		(5)		—
Net income attributable to common stockholders	$	73	$	201	$	103	$	295
Denominator
Weighted average shares outstanding	137,990		377,650		132,494		382,178
Basic and Diluted EPS	$	0.53	$	0.53	$	0.77	$	0.77

Comprehensive Income - Narrative (Detail) $ in Millions	9 Months Ended
Comprehensive Income - Narrative (Detail) $ in Millions	Jun. 30, 2023 USD ($)
Equity [Abstract]
Changes in accumulated other comprehensive loss, net of related taxes	$ 3

Acquisition of 300 Entertainment	9 Months Ended
Acquisition of 300 Entertainment	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisition of 300 Entertainment	Acquisition of 300 Entertainment On December 16, 2021, the Company purchased all outstanding shares of Theory Entertainment LLC d/b/a 300 Entertainment (“300 Entertainment”), an independent U.S. record label. The final consideration paid was determined to be $394 million, which reflects the base purchase price of $400 million, adjusted for, among other items, working capital. During the three months ended December 31, 2022, the Company updated and finalized the purchase price allocation recorded at September 30, 2022, which resulted in a decrease to intangible assets of approximately $1 million and a net decrease to other acquired assets and liabilities of approximately $2 million, with a corresponding net increase to goodwill of approximately $3 million. See Note 5, “Acquisition of 300 Entertainment,” to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2022 for the preliminary purchase price allocation, valuation methodology, and other information related to the 300 Entertainment acquisition.

Comprehensive Income - Schedule of Accumulated Other Comprehensive Loss (Detail) $ in Millions	9 Months Ended
	Jun. 30, 2023 USD ($)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 168
Other comprehensive income (loss)	70
Ending balance	299
Foreign Currency Translation Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(358)
Other comprehensive income (loss)	78
Ending balance	(280)
Minimum Pension Liability Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(2)
Other comprehensive income (loss)	0
Ending balance	(2)
Deferred Gains (Losses) On Derivative Financial Instruments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	13
Other comprehensive income (loss)	(8)
Ending balance	5
Accumulated Other Comprehensive Loss, net
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(347)
Ending balance	$ (277)

- Definition

Amount of equity (deficit) attributable to parent and noncontrolling interest. Excludes temporary equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483421/250-10-45-24

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 23
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483421/250-10-45-23

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-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147483421/250-10-45-5

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-SubTopic 10
-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479654/326-10-65-5

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-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 20
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

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-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480528/815-20-65-6

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 848
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (a)(3)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483550/848-10-65-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
-Paragraph 6
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 105
-SubTopic 10
-Name Accounting Standards Codification
-Section 65
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-URI https://asc.fasb.org//1943274/2147479343/105-10-65-6

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 2
-Subparagraph (f)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480016/944-40-65-2

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-Name Accounting Standards Codification
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 718
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
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-Paragraph 15
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-URI https://asc.fasb.org//1943274/2147480336/718-10-65-15

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 250
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-Topic 220
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+ Details

Fair Value Measurements (Tables)

9 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Financial Instruments

The following tables show the fair value of the Company’s financial instruments that are required to be measured at fair value as of June 30, 2023 and September 30, 2022.


	Fair Value Measurements as of June 30, 2023
	(Level 1)		(Level 2)		(Level 3)		Total
	(in millions)
Other Current Assets:
Foreign Currency Forward Exchange Contracts (a)	$	—	$	1	$	—	$	1
Interest Rate Swap (d)	—		7		—		7
Other Current Liabilities:

Foreign Currency Forward Exchange Contracts (a)	—		(2)		—		(2)

Other Noncurrent Assets:


Equity Investments with Readily Determinable Fair Value (c)	14		—		—		14
Other Noncurrent Liabilities:
Contractual Obligations (b)	—		—		(1)		(1)


	Fair Value Measurements as of September 30, 2022
	(Level 1)		(Level 2)		(Level 3)		Total
	(in millions)
Other Current Assets:
Interest Rate Swap (d)	$	—	$	2	$	—	$	2
Other Noncurrent Assets:
Interest Rate Swap (d)	—		16		—		16
Equity Investment with Readily Determinable Fair Value (c)	36		—		—		36
Other Noncurrent Liabilities:
Contractual Obligations (b)	—		—		(1)		(1)

______________________________________

(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 contingent consideration related to 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 typically included as a component of operating income in the condensed consolidated statements of operations. This amount was primarily calculated using unobservable inputs such as future earnings performance of the acquiree and the expected timing of payments.

(c)These represent equity investments with a readily determinable fair value. The Company has measured its investments to fair value in accordance with ASC 321, Investments—Equity Securities, based on quoted prices in active markets.

(d)The fair value of the interest rate swaps is based on dealer quotes of market forward rates and reflects the amount that the Company would receive or pay as of June 30, 2023 for contracts involving the same attributes and maturity dates.

Schedule of Reconciliation of Net Liabilities Classified as Level 3

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


	Total
	(in millions)
Balance at September 30, 2022	$	(1)
Additions	—
Reductions	—
Payments	—
Balance at June 30, 2023	$	(1)

Condensed Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Millions	Total	Class A Common Stock	Class B Common Stock	Total Warner Music Group Corp. Equity	Common Stock Class A Common Stock	Common Stock Class B Common Stock	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss	Non-controlling Interest
Beginning balance (in shares) at Sep. 30, 2021					122,415	391,971
Beginning balance at Sep. 30, 2021	$ 46			$ 31	$ 0	$ 1	$ 1,942	$ (1,710)	$ (202)	$ 15
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	405			403				403		2
Other comprehensive income, net of tax	(76)			(76)					(76)
Dividends	(235)			(235)				(235)
Stock-based compensation expense	39			39			39
Distribution to noncontrolling interest holders	(5)									(5)
Vesting of restricted stock units, net of shares withheld for employee taxes (in shares)					277
Vesting of restricted stock units, net of shares withheld for employee taxes	(6)			(6)			(6)
Conversion of Class B shares for Class A shares (in shares)					14,320	14,321
Shares issued under Omnibus Incentive Plan (in shares)					187
Other	4									4
Ending balance (in shares) at Jun. 30, 2022					137,199	377,650
Ending balance at Jun. 30, 2022	172			156	$ 0	$ 1	1,975	(1,542)	(278)	16
Beginning balance (in shares) at Mar. 31, 2022					137,198	377,650
Beginning balance at Mar. 31, 2022	173			154	$ 0	$ 1	1,971	(1,587)	(231)	19
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	125			124				124		1
Other comprehensive income, net of tax	(47)			(47)					(47)
Dividends	(79)			(79)				(79)
Stock-based compensation expense	4			4			4
Distribution to noncontrolling interest holders	(4)									(4)
Shares issued under Omnibus Incentive Plan (in shares)					1
Ending balance (in shares) at Jun. 30, 2022					137,199	377,650
Ending balance at Jun. 30, 2022	172			156	$ 0	$ 1	1,975	(1,542)	(278)	16
Beginning balance (in shares) at Sep. 30, 2022		137,199	377,650		137,199	377,650
Beginning balance at Sep. 30, 2022	168			152	$ 0	$ 1	1,975	(1,477)	(347)	16
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	285			278				278		7
Other comprehensive income, net of tax	70			70					70
Dividends	(251)			(251)				(251)
Stock-based compensation expense	32			32			32
Distribution to noncontrolling interest holders	(11)									(11)
Shares issued under the Plan (in shares)					869
Shares issued under Omnibus Incentive Plan (in shares)					273
Other	6									6
Ending balance (in shares) at Jun. 30, 2023		138,341	377,650		138,341	377,650
Ending balance at Jun. 30, 2023	299			281	$ 0	$ 1	2,007	(1,450)	(277)	18
Beginning balance (in shares) at Mar. 31, 2023					138,324	377,650
Beginning balance at Mar. 31, 2023	266			252	$ 0	$ 1	2,000	(1,488)	(261)	14
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	124			122				122		2
Other comprehensive income, net of tax	(16)			(16)					(16)
Dividends	(84)			(84)				(84)
Stock-based compensation expense	7			7			7
Distribution to noncontrolling interest holders	(4)									(4)
Shares issued under Omnibus Incentive Plan (in shares)					17
Other	6									6
Ending balance (in shares) at Jun. 30, 2023		138,341	377,650		138,341	377,650
Ending balance at Jun. 30, 2023	$ 299			$ 281	$ 0	$ 1	$ 2,007	$ (1,450)	$ (277)	$ 18

Equity	9 Months Ended
Equity	Jun. 30, 2023
Equity [Abstract]
Equity	Equity Stock-Based Compensation The Company’s stock-based compensation plans are described in Note 13, “Stock-Based Compensation Plans,” to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the fiscal year ended September 30, 2022. Stock-based compensation consists primarily of restricted stock units (“RSUs”) granted to eligible employees and executives under the Omnibus Incentive Plan. For the three months ended June 30, 2023, the Company recognized a total of $7 million of non-cash stock-based compensation expense which was recorded to additional paid-in capital. For the nine months ended June 30, 2023, the Company recognized a total of $42 million of non-cash stock-based compensation expense, of which $27 million was recorded to additional paid-in capital and $15 million was recorded as a share-based compensation liability. For the nine months ended June 30, 2022, the Company recognized a total of $35 million of non-cash stock-based compensation expense, of which $30 million was recorded to additional paid-in capital and $5 million was recorded as a share-based compensation liability. Share-based compensation liabilities, which are a component of accrued liabilities on the condensed consolidated balance sheets, are recorded for awards under the Omnibus Incentive Plan where a total value is known and settlement will occur in a variable number of shares of Class A Common Stock and RSUs. During the nine months ended June 30, 2023, $5 million of stock-based compensation liability was reclassified to additional paid-in capital, representing the grant date fair value of RSUs granted which were previously classified as a share-based compensation liability as of September 30, 2022. During the three and nine months ended June 30, 2023, the Company approved the issuance of RSUs under the Omnibus Incentive Plan to eligible employees and executives. For the three and nine months ended June 30, 2023, non-cash stock-based compensation associated with these RSUs was $2 million and $12 million, respectively, which was recorded to additional paid-in capital. During the nine months ended June 30, 2023, a separation agreement between the Company and our previous Chief Executive Officer was executed. In connection with the separation agreement, the Company recognized $12 million of non-cash stock-based compensation expense associated with RSUs and common stock as there is no remaining service required for vesting. Such expense was recorded as a share-based compensation liability as of June 30, 2023. During the nine months ended June 30, 2023, the Company issued market-based performance share units (“PSUs”) to our newly appointed Chief Executive Officer whereby the PSU award payout is determined based on the Company’s total shareholder return compared to a designated peer group. Non-cash stock-based compensation associated with these PSUs recognized for the three and nine months ended June 30, 2023 was approximately $1 million and $2 million, respectively, which was recorded to additional paid-in capital. During the nine months ended June 30, 2023, in connection with the Restructuring Plan, the Company recognized $2 million of non-cash stock-based compensation related to the accelerated vesting of certain RSUs. Refer to Note 9 for further discussion. Common Stock During the nine months ended June 30, 2023, in connection with the Senior Management Free Cash Flow Plan (the “Plan”), the Company issued a total of approximately 869,000 shares of Class A Common Stock to settle a portion of a participant’s deferred equity units previously issued under the Plan. During the three and nine months ended June 30, 2023, the Company issued approximately 17,000 and 273,000 shares of Class A Common Stock, respectively, under the Omnibus Incentive Plan.

Segment Information (Tables)

9 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Schedule of Segment Information


	Recorded Music		Music Publishing		Corporate expenses and eliminations		Total
Three Months Ended	(in millions)
June 30, 2023
Revenues	$	1,282	$	283	$	(1)	$	1,564
Operating income (loss)	207		50		(68)		189
Amortization of intangible assets	41		23		—		64
Depreciation of property, plant and equipment	13		—		9		22
OIBDA	261		73		(59)		275
June 30, 2022
Revenues	$	1,189	$	245	$	(2)	$	1,432
Operating income (loss)	166		33		(53)		146
Amortization of intangible assets	46		23		—		69
Depreciation of property, plant and equipment	12		1		5		18
OIBDA	224		57		(48)		233

	Recorded Music		Music Publishing		Corporate expenses and eliminations		Total
Nine Months Ended	(in millions)
June 30, 2023
Revenues	$	3,664	$	790	$	(3)	$	4,451
Operating income (loss)	641		151		(214)		578
Amortization of intangible assets	121		67		—		188
Depreciation of property, plant and equipment	39		2		24		65
OIBDA	801		220		(190)		831
June 30, 2022
Revenues	$	3,722	$	704	$	(4)	$	4,422
Operating income (loss)	631		103		(183)		551
Amortization of intangible assets	133		65		—		198
Depreciation of property, plant and equipment	40		4		15		59
OIBDA	804		172		(168)		808

Restructuring

9 Months Ended

Jun. 30, 2023

Restructuring and Related Activities [Abstract]

Restructuring

In March 2023, the Company announced a restructuring plan (the “Restructuring Plan”) intended to drive the evolution of the Company and position the Company for long-term growth, primarily through headcount reductions. Under the Restructuring Plan, the Company expects to reduce headcount by approximately 270 people, or approximately 4% of the Company’s overall headcount. The Company expects to incur total non-recurring restructuring charges of approximately $41 million for severance costs, all of which is expected to be paid in cash. The Restructuring Plan is substantially complete as of June 30, 2023, with related cash expenditures expected by the end of fiscal 2024.

There were no restructuring costs incurred in the three months ended June 30, 2023. Total restructuring costs were $41 million for the nine months ended June 30, 2023, consisting of severance costs. All restructuring expenses were recorded in the Recorded Music segment.

The following table sets forth the activity in the restructuring accrual included within accrued liabilities in the accompanying condensed consolidated balance sheets:


	Severance Costs
	(in millions)
Balance at September 30, 2022	$	—
Restructuring charges	41
Cash payments	(13)
Balance at June 30, 2023	$	28

Fair Value Measurements

9 Months Ended

Jun. 30, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements

The following tables show the fair value of the Company’s financial instruments that are required to be measured at fair value as of June 30, 2023 and September 30, 2022.


	Fair Value Measurements as of June 30, 2023
	(Level 1)		(Level 2)		(Level 3)		Total
	(in millions)
Other Current Assets:
Foreign Currency Forward Exchange Contracts (a)	$	—	$	1	$	—	$	1
Interest Rate Swap (d)	—		7		—		7
Other Current Liabilities:

Foreign Currency Forward Exchange Contracts (a)	—		(2)		—		(2)

Other Noncurrent Assets:


Equity Investments with Readily Determinable Fair Value (c)	14		—		—		14
Other Noncurrent Liabilities:
Contractual Obligations (b)	—		—		(1)		(1)


	Fair Value Measurements as of September 30, 2022
	(Level 1)		(Level 2)		(Level 3)		Total
	(in millions)
Other Current Assets:
Interest Rate Swap (d)	$	—	$	2	$	—	$	2
Other Noncurrent Assets:
Interest Rate Swap (d)	—		16		—		16
Equity Investment with Readily Determinable Fair Value (c)	36		—		—		36
Other Noncurrent Liabilities:
Contractual Obligations (b)	—		—		(1)		(1)

______________________________________

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


	Total
	(in millions)
Balance at September 30, 2022	$	(1)
Additions	—
Reductions	—
Payments	—
Balance at June 30, 2023	$	(1)

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. 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 three and nine months ended June 30, 2023 and 2022. In addition, there were no observable price changes events that were completed during the three and nine months ended June 30, 2023 and 2022.

Fair Value of Debt

Based on the level of interest rates prevailing at June 30, 2023, the fair value of the Company’s debt was $3.596 billion. Based on the level of interest rates prevailing at September 30, 2022, the fair value of the Company’s debt was $3.181 billion. The fair value of the Company’s debt instruments is 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.

- Definition

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

Condensed Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Depreciation expense	$ (22)	$ (18)	$ (65)	$ (59)

Additional Financial Information	9 Months Ended
Additional Financial Information	Jun. 30, 2023
Additional Financial Information [Abstract]
Additional Financial Information	Additional Financial Information Cash Interest and Taxes The Company made interest payments of approximately $29 million and $21 million during the three months ended June 30, 2023 and 2022, respectively, and approximately $104 million and $78 million during the nine months ended June 30, 2023 and 2022, respectively. The Company paid approximately $49 million and $38 million of income and withholding taxes, net of refunds, for the three months ended June 30, 2023 and 2022, respectively, and approximately $166 million and $104 million of income and withholding taxes, net of refunds, for the nine months ended June 30, 2023 and 2022, respectively. Gain on Divestiture During the nine months ended June 30, 2023, the Company sold its interest in certain sound recording rights and recorded a pre-tax gain of $41 million which was recorded as a net gain on divestiture in the accompanying condensed consolidated statement of operations. Dividends The Company’s ability to pay dividends may be restricted by covenants in the credit agreement for the Revolving Credit Facility which are currently suspended but which will be reinstated if Acquisition Corp.’s Total Indebtedness to EBITDA Ratio increases above 3.50:1.00 and the term loans do not achieve an investment grade rating. The Company intends to pay quarterly cash dividends to holders of its Class A Common Stock and Class B Common Stock. The declaration of each dividend will continue to be at the discretion of the Company’s board of directors and will depend on the Company’s financial condition, earnings, liquidity and capital requirements, level of indebtedness, contractual restrictions with respect to payment of dividends, restrictions imposed by Delaware law, general business conditions and any other factors that the Company’s board of directors deems relevant in making such a determination. Therefore, there can be no assurance that the Company will pay any dividends to holders of the Company’s common stock, or as to the amount of any such dividends. On May 10, 2023, the Company’s board of directors declared a cash dividend of $0.16 per share on the Company’s Class A Common Stock and Class B Common Stock, as well as related payments under certain stock-based compensation plans, which was paid to stockholders on June 1, 2023. The Company paid an aggregate of approximately $84 million and $251 million, or $0.16 and $0.48 per share, in cash dividends to stockholders and participating security holders for the three and nine months ended June 30, 2023, respectively. Noncash Investment Activity Noncash investing activities was approximately $125 million related to the acquisition of music publishing rights and music catalogs, net during the nine months ended June 30, 2022.

Cover - shares	9 Months Ended
Cover - shares	Jun. 30, 2023	Aug. 02, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-32502
Entity Registrant Name	Warner Music Group Corp.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-4271875
Entity Address, Address Line One	1633 Broadway
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10019
City Area Code	(212)
Local Phone Number	275-2000
Title of 12(b) Security	Class A Common Stock, $0.001 par value per share
Trading Symbol	WMG
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001319161
Current Fiscal Year End Date	--09-30
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		138,343,011
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		377,650,449

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Millions	Jun. 30, 2023	Sep. 30, 2022
Accounts receivable, allowances	$ 19	$ 19
Accumulated depreciation	$ 523	$ 461
Class A Common Stock
Par value (in dollars per share)	$ 0.001	$ 0.001
Shares authorized (in shares)	1,000,000	1,000,000
Shares issued (in shares)	138,341	137,199
Shares outstanding (in shares)	138,341	137,199
Class B Common Stock
Par value (in dollars per share)	$ 0.001	$ 0.001
Shares authorized (in shares)	1,000,000	1,000,000
Shares issued (in shares)	377,650	377,650
Shares outstanding (in shares)	377,650	377,650

Restructuring (Tables)

9 Months Ended

Jun. 30, 2023

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Accrual Activity

The following table sets forth the activity in the restructuring accrual included within accrued liabilities in the accompanying condensed consolidated balance sheets:


	Severance Costs
	(in millions)
Balance at September 30, 2022	$	—
Restructuring charges	41
Cash payments	(13)
Balance at June 30, 2023	$	28

Debt - Narrative (Detail)				3 Months Ended		9 Months Ended
Debt - Narrative (Detail)	Jun. 30, 2023 USD ($)	Jan. 27, 2023 USD ($)	Nov. 01, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 EUR (€)	Sep. 30, 2022 EUR (€)
Debt Instrument [Line Items]
Debt instrument, covenant, total indebtedness to EBITDA ratio	3.50			3.50		3.50		3.50
Loss on extinguishment of debt				$ (4,000,000)	$ 0	$ (4,000,000)	$ 0
Interest expense, net				38,000,000	32,000,000	105,000,000	94,000,000
Interest Expense, Debt				$ 41,000,000	$ 32,000,000	$ 115,000,000	$ 93,000,000
Weighted-average interest rate of total debt	4.10%			4.10%	3.30%	4.10%	3.30%	4.10%	3.50%
2.750% Senior Secured Notes due 2028 \| Acquisition Corp.
Debt Instrument [Line Items]
Interest rate	2.75%			2.75%		2.75%		2.75%	2.75%
Face or principal amount of debt instrument \| €								€ 325,000,000	€ 325,000,000
3.750% Senior Secured Notes due 2029
Debt Instrument [Line Items]
Interest rate	3.75%			3.75%	3.75%	3.75%	3.75%	3.75%
3.750% Senior Secured Notes due 2029 \| Acquisition Corp.
Debt Instrument [Line Items]
Interest rate	3.75%			3.75%		3.75%		3.75%	3.75%
3.875% Senior Secured Notes due 2030 \| Acquisition Corp.
Debt Instrument [Line Items]
Interest rate	3.875%			3.875%		3.875%		3.875%	3.875%
2.250% Senior Secured Notes due 2031 \| Acquisition Corp.
Debt Instrument [Line Items]
Interest rate	2.25%			2.25%		2.25%		2.25%	2.25%
Face or principal amount of debt instrument \| €								€ 445,000,000	€ 445,000,000
3.000% Senior Secured Notes due 2031 \| Acquisition Corp.
Debt Instrument [Line Items]
Interest rate	3.00%			3.00%		3.00%		3.00%	3.00%
Senior Term Loan Facility \| Acquisition Corp.
Debt Instrument [Line Items]
Line of credit facility, increase			$ 150,000,000
Maximum commitments under the facility	$ 1,295,000,000		$ 1,295,000,000	$ 1,295,000,000		$ 1,295,000,000
Repayments of secured debt	150,000,000
Loss on extinguishment of debt				4,000,000		4,000,000
Term Loan Mortgage \| Acquisition Corp.
Debt Instrument [Line Items]
Face or principal amount of debt instrument		$ 19,000,000
Term Loan Mortgage \| Acquisition Corp. \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt instrument, marginal interest rate		1.40%
Senior Notes
Debt Instrument [Line Items]
Scheduled maturities of long-term debt in 2023	0			0		0
Scheduled maturities of long-term debt in 2024	0			0		0
Scheduled maturities of long-term debt in 2025	0			0		0
Scheduled maturities of long-term debt in 2026	0			0		0
Scheduled maturities of long-term debt, 2027	0			0		0
Scheduled maturities of long-term debt, 2028	354,000,000			354,000,000		354,000,000
Scheduled maturities of long-term debt, thereafter	$ 2,360,000,000			$ 2,360,000,000		$ 2,360,000,000
Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, covenant, total indebtedness to EBITDA ratio	3.50			3.50		3.50		3.50

Income Taxes - Narrative (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes - Narrative (Detail) - USD ($) $ in Millions	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 43	$ 39	$ 112	$ 148

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Goodwill and Intangible Assets

9 Months Ended

Jun. 30, 2023

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)
Balances at September 30, 2022	$	1,456	$	464	$	1,920
Acquisitions	8		—		8

Other adjustments (a)	34		—		34
Balances at June 30, 2023	$	1,498	$	464	$	1,962

______________________________________

(a)Other adjustments during the nine months ended June 30, 2023 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, 2023		September 30, 2022
		(in millions)
Intangible assets subject to amortization:
Recorded music catalog	12 years	$	1,397	$	1,316
Music publishing copyrights	25 years	1,995		1,889
Artist and songwriter contracts	13 years	1,056		1,014
Trademarks	14 years	109		103
Other intangible assets	6 years	103		89
Total gross intangible assets subject to amortization		4,660		4,411
Accumulated amortization		(2,465)		(2,172)
Total net intangible assets subject to amortization		2,195		2,239
Intangible assets not subject to amortization:
Trademarks and tradenames	Indefinite	150		145
Total net intangible assets		$	2,345	$	2,384