SPY380.36-1.97 -0.52%
DIA309.45-4.53 -1.44%
IXIC13,192.35+72.96 0.56%

Press Release: WWE(R) Reports Record 2020 Results -6-

· 02/04/2021 16:11
CONTACT: Investors:Media $ 114.6 $ 4.5 $ (2.5) $ -- $ 116.6 Live Events (1.0) -- (0.8) -- (1.8) Consumer Products 12.8 -- (0.5) -- 12.3 Corporate (26.6) 6.1 1.0 -- (19.5) ------ ------------ ----- ----- --------------- ----- Total $ 99.8 $ 10.6 $ (2.8) $ -- $ 107.6 ====== === ============ ===== ==== =============== ===== Year Ended December 31, 2020 ----------------------------------------------------------------------------- Operating Depreciation Income & Stock Other Adjusted (Loss) Amortization Compensation Adjustments (1) OIBDA ------------ ------------- ---------------- ---------------- ------------ Media $ 332.5 $ 15.1 $ 20.2 $ -- $ 367.8 Live Events (19.1) -- 1.5 -- (17.6) Consumer Products 24.8 -- 1.8 -- 26.6 Corporate (129.6) 27.5 4.5 7.0 (90.6) ------ ------------ ----- ----- --------------- ----- Total $ 208.6 $ 42.6 $ 28.0 $ 7.0 $ 286.2 ====== === ============ ===== ===== =============== ===== Year Ended December 31, 2019 ----------------------------------------------------------------------------- Operating Depreciation Income & Stock Other Adjusted (Loss) Amortization Compensation Adjustments OIBDA ------------ ------------- ---------------- ---------------- ------------ Media $ 190.8 $ 12.6 $ 20.7 $ -- $ 224.1 Live Events 7.7 -- 1.7 -- 9.4 Consumer Products 26.4 -- 2.1 -- 28.5 Corporate (108.4) 21.5 4.9 -- (82.0) ------ ------------ ----- ----- --------------- ----- Total $ 116.5 $ 34.1 $ 29.4 $ -- $ 180.0 ====== === ============ ===== ===== =============== ===== (1) During the three and twelve months ended December 31, 2020, the Company recorded severance expense of $1.5 million and $7.0 million, respectively, resulting from a reduction in force due to COVID-19. The Company's policy is to include company-wide severance expense within corporate unallocated general and administrative expenses. The Company did not record any such expense during the three and twelve months ended December 31, 2019 World Wrestling Entertainment, Inc. Supplemental Information - Free Cash Flow (In millions) (Unaudited) Three Months Ended Year Ended ----------------------- ------------------ December 31, December 31, ----------------------- ------------------ 2020 2019 2020 2019 ------------- -------- ------- --------- Net cash provided by operating activities $ 62.4 $ 119.4 $319.9 $121.7 Less cash used for capital expenditures: Purchase of property and equipment and other assets (6.2) (12.8) (27.6) (69.1) ----- ------ ----- ----- Free Cash Flow $ 56.2 $ 106.6 $292.3 $ 52.6 ===== ====== ===== =====

View source version on businesswire.com: https://www.businesswire.com/news/home/20210204005999/en/

Michael Weitz 203-352-8642

Michael Guido, CFA 203-352-8779

Media:

Matthew Altman 203-352-1177

(END) Dow Jones Newswires

February 04, 2021 16:11 ET (21:11 GMT)