March Quarter 2024 Trending Schedules
Trending Schedules
Information included in these schedules has been derived from information contained in our Annual Report on Form 10-K for 2023 and Quarterly Reports on Form 10-Q for 2024 and 2023. These schedules contain certain financial measures that are not in accordance with accounting principles generally accepted in the United States of America ("GAAP"). We provide reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures in the body of these schedules. References to "Paramount," the "Company," "we," "us" and "our" refer to Paramount Global and its consolidated subsidiaries, unless the context otherwise requires.
Simon & Schuster, which was sold on October 30, 2023, has been presented as a discontinued operation.
TRENDING SCHEDULES
Summarized Reported Results (GAAP) (unaudited; in millions, except per share amounts)
Advertising
Affiliate and subscription
Theatrical
Licensing and other
Revenues
Expenses
Programming charges
Impairment charges
Restructuring and other corporate matters
Net gains on dispositions
Depreciation and amortization
Operating income (loss)
Amounts attributable to Paramount:
Net earnings (loss) from continuing operations
Discontinued operations, net of tax
Net earnings (loss) attributable to Paramount
Diluted net earnings (loss) per share attributable to Paramount: (1)
Continuing operations
Discontinued operations
Net earnings (loss)
Weighted average number of diluted shares outstanding
Schedule 1
12 Months | 12 Months | 3 Months | |||||||||||||||||
Ended | Quarter Ended | Ended | Ended | ||||||||||||||||
12/31/22 | 3/31/23 | 6/30/23 | 9/30/23 | 12/31/23 | 12/31/23 | 3/31/24 | |||||||||||||
$ | 10,890 | $ | 2,651 | $ | 2,395 | $ | 2,133 | $ | 2,810 | $ | 9,989 | $ | 3,096 | ||||||
11,551 | 3,179 | 3,235 | 3,262 | 3,342 | 13,018 | 3,357 | |||||||||||||
1,223 | 127 | 231 | 377 | 78 | 813 | 153 | |||||||||||||
6,490 | 1,308 | 1,755 | 1,361 | 1,408 | 5,832 | 1,079 | |||||||||||||
$ | 30,154 | $ | 7,265 | $ | 7,616 | $ | 7,133 | $ | 7,638 | $ | 29,652 | $ | 7,685 | ||||||
(26,878) | (6,717) | (7,010) | (6,417) | (7,118) | (27,262) | (6,698) | |||||||||||||
- | (1,674) | (697) | - | - | (2,371) | (1,118) | |||||||||||||
(27) | - | - | - | (83) | (83) | - | |||||||||||||
(585) | - | (54) | 10 | 75 | 31 | (186) | |||||||||||||
56 | - | - | - | - | - | - | |||||||||||||
(378) | (100) | (105) | (105) | (108) | (418) | (100) | |||||||||||||
$ | 2,342 | $ | (1,226) | $ | (250) | $ | 621 | $ | 404 | $ | (451) | $ | (417) | ||||||
$ | 725 | $ | (1,163) | $ | (372) | $ | 247 | $ | 4 | $ | (1,284) | $ | (563) | ||||||
379 | 45 | 73 | 48 | 510 | 676 | 9 | |||||||||||||
$ | 1,104 | $ | (1,118) | $ | (299) | $ | 295 | $ | 514 | $ | (608) | $ | (554) | ||||||
$ | 1.03 | $ | (1.81) | $ | (.59) | $ | .36 | $ | (.02) | $ | (2.06) | $ | (.88) | ||||||
$ | .58 | $ | .07 | $ | .11 | $ | .07 | $ | .78 | $ | 1.04 | $ | .01 | ||||||
$ | 1.61 | $ | (1.74) | $ | (.48) | $ | .43 | $ | .77 | $ | (1.02) | $ | (.87) | ||||||
650 | 651 | 651 | 652 | 653 | 652 | 654 | |||||||||||||
(1) Refer to Schedule 7 for further details on the calculation of reported diluted net earnings (loss) per common share from continuing operations attributable to Paramount ("Reported EPS").
TRENDING SCHEDULES
Summarized Adjusted Results (Non-GAAP) (unaudited; in millions, except per share amounts)
Advertising
Affiliate and subscription
Theatrical
Licensing and other
Revenues
Expenses
Adjusted OIBDA
Adjusted net earnings from continuing operations attributable to Paramount
Adjusted diluted EPS from continuing operations attributable to Paramount (1)
Weighted average number of diluted shares outstanding
Schedule 2
12 Months | 12 Months | 3 Months | |||||||||||||||||
Ended | Quarter Ended | Ended | Ended | ||||||||||||||||
12/31/22 | 3/31/23 | 6/30/23 | 9/30/23 | 12/31/23 | 12/31/23 | 3/31/24 | |||||||||||||
$ | 10,890 | $ | 2,651 | $ | 2,395 | $ | 2,133 | $ | 2,810 | $ | 9,989 | $ | 3,096 | ||||||
11,551 | 3,179 | 3,235 | 3,262 | 3,342 | 13,018 | 3,357 | |||||||||||||
1,223 | 127 | 231 | 377 | 78 | 813 | 153 | |||||||||||||
6,490 | 1,308 | 1,755 | 1,361 | 1,408 | 5,832 | 1,079 | |||||||||||||
$ | 30,154 | $ | 7,265 | $ | 7,616 | $ | 7,133 | $ | 7,638 | $ | 29,652 | $ | 7,685 | ||||||
(26,878) | (6,717) | (7,010) | (6,417) | (7,118) | (27,262) | (6,698) | |||||||||||||
$ | 3,276 | $ | 548 | $ | 606 | $ | 716 | $ | 520 | $ | 2,390 | $ | 987 | ||||||
$ | 1,171 | $ | 72 | $ | 80 | $ | 207 | $ | 41 | $ | 400 | $ | 424 | ||||||
$ | 1.71 | $ | .09 | $ | .10 | $ | .30 | $ | .04 | $ | .52 | $ | .62 | ||||||
650 | 652 | 652 | 652 | 653 | 652 | 657 |
- Refer to Schedule 7 for further details on the calculation of Adjusted diluted EPS from continuing operations attributable to Paramount ("Adjusted EPS"), including a reconciliation between Reported EPS and Adjusted EPS.
TRENDING SCHEDULES
TV Media Financial Results (unaudited; in millions)
Advertising
Affiliate and subscription
Licensing and other
Revenues
Adjusted OIBDA
Schedule 3
12 Months | 12 Months | 3 Months | |||||||||||||||||
Ended | Quarter Ended | Ended | Ended | ||||||||||||||||
12/31/22 | 3/31/23 | 6/30/23 | 9/30/23 | 12/31/23 | 12/31/23 | 3/31/24 | |||||||||||||
$ | 9,350 | $ | 2,256 | $ | 1,946 | $ | 1,703 | $ | 2,283 | $ | 8,188 | $ | 2,582 | ||||||
8,180 | 2,067 | 2,011 | 2,004 | 2,003 | 8,085 | 1,998 | |||||||||||||
4,202 | 870 | 1,200 | 860 | 882 | 3,812 | 651 | |||||||||||||
$ | 21,732 | $ | 5,193 | $ | 5,157 | $ | 4,567 | $ | 5,168 | $ | 20,085 | $ | 5,231 | ||||||
$ | 5,451 | $ | 1,306 | $ | 1,194 | $ | 1,149 | $ | 1,142 | $ | 4,791 | $ | 1,445 | ||||||
TRENDING SCHEDULES
Direct-to-Consumer Financial Results and Other Metrics (unaudited; in millions)
Advertising
Subscription
Licensing
Revenues
Adjusted OIBDA
Paramount+ (Global)
Subscribers (1)
Revenues
Schedule 4
12 Months | 12 Months | 3 Months | |||||||||||||||||
Ended | Quarter Ended | Ended | Ended | ||||||||||||||||
12/31/22 | 3/31/23 | 6/30/23 | 9/30/23 | 12/31/23 | 12/31/23 | 3/31/24 | |||||||||||||
$ | 1,533 | $ | 398 | $ | 441 | $ | 430 | $ | 526 | $ | 1,795 | $ | 520 | ||||||
3,371 | 1,112 | 1,224 | 1,258 | 1,339 | 4,933 | 1,359 | |||||||||||||
- | - | - | 4 | 4 | 8 | - | |||||||||||||
$ | 4,904 | $ | 1,510 | $ | 1,665 | $ | 1,692 | $ | 1,869 | $ | 6,736 | $ | 1,879 | ||||||
$ | (1,819) | $ | (511) | $ | (424) | $ | (238) | $ | (490) | $ | (1,663) | $ | (286) | ||||||
55.9 | 60.0 | 60.7 | 63.4 | 67.5 | 67.5 | 71.2 | |||||||||||||
$ | 2,767 | $ | 965 | $ | 990 | $ | 1,138 | $ | 1,353 | $ | 4,446 | $ | 1,459 | ||||||
- Subscribers include customers who are registered for Paramount+, either directly through our owned and operated apps and websites, or through third-party distributors. Subscribers also include customers who are provided with access through a subscription bundle with a domestic linear video streaming service (vMVPD) or an international third-party distributor. Our subscribers include paid subscriptions and those customers registered in a free trial. For the periods above, subscriber counts reflect the number of subscribers as of the applicable period-end date.
TRENDING SCHEDULES
Filmed Entertainment Financial Results (unaudited; in millions)
Advertising
Theatrical
Licensing and other
Revenues
Adjusted OIBDA
Schedule 5
12 Months | 12 Months | 3 Months | |||||||||||||||||
Ended | Quarter Ended | Ended | Ended | ||||||||||||||||
12/31/22 | 3/31/23 | 6/30/23 | 9/30/23 | 12/31/23 | 12/31/23 | 3/31/24 | |||||||||||||
$ | 23 | $ | 5 | $ | 11 | $ | 5 | $ | 3 | $ | 24 | $ | 1 | ||||||
1,223 | 127 | 231 | 377 | 78 | 813 | 153 | |||||||||||||
2,460 | 456 | 589 | 509 | 566 | 2,120 | 451 | |||||||||||||
$ | 3,706 | $ | 588 | $ | 831 | $ | 891 | $ | 647 | $ | 2,957 | $ | 605 | ||||||
$ | 272 | $ | (99) | $ | 5 | $ | (49) | $ | 24 | $ | (119) | $ | (3) | ||||||
TRENDING SCHEDULES
Reconciliation of Adjusted OIBDA (Non-GAAP) (unaudited; in millions)
Schedule 6
TV Media
Direct-to-Consumer
Filmed Entertainment
Corporate/Eliminations
Stock-based compensation
Adjusted OIBDA
Depreciation and amortization Programming charges (1) Impairment charges (1)
Restructuring and other corporate matters (1) Net gains on dispositions (1)
Operating income (loss)
12 Months Ended
12/31/22
-
5,451
(1,819)
272
(470)
(158)
3,276
(378)
-
(27)
(585)
56
- 2,342
12 Months | 3 Months | ||||||||||||||||
Quarter Ended | Ended | Ended | |||||||||||||||
3/31/23 | 6/30/23 | 9/30/23 | 12/31/23 | 12/31/23 | 3/31/24 | ||||||||||||
$ | 1,306 | $ | 1,194 | $ | 1,149 | $ | 1,142 | $ | 4,791 | $ | 1,445 | ||||||
(511) | (424) | (238) | (490) | (1,663) | (286) | ||||||||||||
(99) | 5 | (49) | 24 | (119) | (3) | ||||||||||||
(109) | (124) | (103) | (111) | (447) | (124) | ||||||||||||
(39) | (45) | (43) | (45) | (172) | (45) | ||||||||||||
548 | 606 | 716 | 520 | 2,390 | 987 | ||||||||||||
(100) | (105) | (105) | (108) | (418) | (100) | ||||||||||||
(1,674) | (697) | - | - | (2,371) | (1,118) | ||||||||||||
- | - | - | (83) | (83) | - | ||||||||||||
- | (54) | 10 | 75 | 31 | (186) | ||||||||||||
- | - | - | - | - | - | ||||||||||||
$ | (1,226) | $ | (250) | $ | 621 | $ | 404 | $ | (451) | $ | (417) | ||||||
(1) See Schedule 8 for a description of these items affecting comparability.
TRENDING SCHEDULES | Schedule 7 |
Reconciliation of Adjusted Net Earnings and Diluted EPS (Non-GAAP) (unaudited; in millions, except per share amounts)
Net earnings (loss) from continuing operations attributable to Paramount:
Reported net earnings (loss) from continuing operations
Impact of adjustments on net earnings (loss) from continuing operations (1)
Adjusted net earnings from continuing operations
Per share information attributable to Paramount:
Reported diluted earnings (loss) per share from continuing operations
Impact of adjustments on diluted earnings (loss) per share from continuing operations (1)
Adjusted diluted EPS from continuing operations
Weighted average number of diluted shares outstanding, reported (2) (3)
Weighted average number of diluted shares outstanding, adjusted (2)
12 Months | 12 Months | 3 Months | ||||||
Ended | Quarter Ended | Ended | Ended | |||||
12/31/22 | 3/31/23 | 6/30/23 | 9/30/23 | 12/31/23 | 12/31/23 | 3/31/24 |
$ | 725 | $ | (1,163) | $ | (372) | $ | 247 | $ | 4 | $ | (1,284) | $ | (563) | ||||||
446 | 1,235 | 452 | (40) | 37 | 1,684 | 987 | |||||||||||||
$ | 1,171 | $ | 72 | $ | 80 | $ | 207 | $ | 41 | $ | 400 | $ | 424 |
$ | 1.03 | $ | (1.81) | $ | (.59) | $ | .36 | $ | (.02) | $ | (2.06) | $ | (.88) | ||||||
.68 | 1.90 | .69 | (.06) | .06 | 2.58 | 1.50 | |||||||||||||
$ | 1.71 | $ | .09 | $ | .10 | $ | .30 | $ | .04 | $ | .52 | $ | .62 |
650 | 651 | 651 | 652 | 653 | 652 | 654 |
650 | 652 | 652 | 652 | 653 | 652 | 657 |
- See Schedule 8 for a description of items affecting comparability of net earnings (loss) from continuing operations and diluted EPS.
- The impact of the assumed conversion of our 5.75% Series A Mandatory Convertible Preferred Stock ("Preferred Stock") to shares of common stock would have been antidilutive in the calculations of Reported EPS and Adjusted EPS for all periods presented. When antidilutive, in the calculations of EPS the weighted average number of diluted shares outstanding does not include the assumed issuance of shares upon conversion of preferred stock, and preferred stock dividends for the applicable period are deducted from net earnings (loss) from continuing operations.
- For periods when we reported a net loss the dilutive impact to shares for Reported EPS is excluded because it would be antidilutive.
TRENDING SCHEDULES
Items Affecting Comparability
(unaudited; in millions, except per share amounts)
Programming charges (1) Impairment charges (2)
Restructuring and other corporate matters (3) Net gains on dispositions (4)
(Gain) loss on extinguishment of debt
(Gain) loss from investments (5)
Impact of adjustments on earnings (loss) from continuing operations before income taxes
Income tax impact of above items (6)
Discrete tax items (7)
Impact of adjustments on income taxes
Impairment of equity-method investments, net of tax
Impact of adjustments on net earnings (loss) from continuing operations attributable to Paramount
Impact of adjustments on diluted EPS from continuing operations attributable to Paramount
Schedule 8
12 Months | 12 Months | 3 Months | |||||||||||||||||
Ended | Quarter Ended | Ended | Ended | ||||||||||||||||
12/31/22 | 3/31/23 | 6/30/23 | 9/30/23 | 12/31/23 | 12/31/23 | 3/31/24 | |||||||||||||
$ | - | $ | 1,674 | $ | 697 | $ | - | $ | - | $ | 2,371 | $ | 1,118 | ||||||
27 | - | - | - | 83 | 83 | - | |||||||||||||
585 | - | 54 | (10) | (75) | (31) | 186 | |||||||||||||
(56) | - | - | - | - | - | - | |||||||||||||
120 | - | - | - | (29) | (29) | - | |||||||||||||
- | |||||||||||||||||||
9 | - | (168) | - | - | (168) | 4 | |||||||||||||
685 | 1,674 | 583 | (10) | (21) | 2,226 | 1,308 | |||||||||||||
(159) | (409) | (127) | 3 | 6 | (527) | (322) | |||||||||||||
(80) | (30) | (4) | (33) | 36 | (31) | 1 | |||||||||||||
(239) | (439) | (131) | (30) | 42 | (558) | (321) | |||||||||||||
- | - | - | - | 16 | 16 | - | |||||||||||||
$ | 446 | $ | 1,235 | $ | 452 | (40) | 37 | $ | 1,684 | $ | 987 | ||||||||
$ | .68 | $ | 1.90 | $ | .69 | $ | (.06) | $ | .06 | $ | 2.58 | $ | 1.50 | ||||||
- Programming charges in 2024 are associated with our strategic decision to focus on content with mass global appeal and in 2023 are associated with the integration of Showtime into Paramount+ and initiatives to rationalize and right-size our international operations to align with our streaming strategy and close or globalize certain of our international channels. These strategic changes led to content being removed from our platforms or abandoned, the write-off of development costs, distribution changes, and the termination of programming agreements. Accordingly, we recorded programming charges relating to these actions.
- Reflects charges to reduce the carrying value of intangible assets to their fair value.
- Reflects severance costs, lease impairments and other corporate matters.
- Reflects a gain recognized upon the contribution of certain assets of Paramount+ in the Nordics to SkyShowtime, a gain from the sale of international intangible assets and a working capital adjustment to the gain from the sale of CBS Studio Center.
- Includes fair value adjustments and gains and losses associated with the sale of investments.
- The tax impact has been calculated by applying the tax rates applicable to the adjustments presented.
- Includes the net discrete tax expense or (benefit) related to a change in tax law, guidance from tax authorities, the reorganization of international operations, the resolution of income tax matters, amounts realized in connection with the filing of tax returns, and tax expense or (excess benefit) from the vesting or exercise of stock-based compensations awards, among others.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Paramount Global published this content on 29 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2024 20:08:56 UTC.