SUPPLEMENTARY DATA

6 Months Ended

Jun. 30, 2024

6. SUPPLEMENTARY DATA

Property, Buildings and Equipment, net

Property, buildings and equipment, net consisted of the following (in thousands):



	As of
	June 30,		December 31,
	2024		2023
Buildings and improvements	$	387,168	$	394,481
Office, computer and other equipment		134,779		126,082
Land and land improvements		50,539		80,919
Furniture and fixtures		76,727		74,862
Construction in progress		17,852		20,389
		667,065		696,733
Less: accumulated depreciation		(118,960)		(88,317)
Total Property, buildings and equipment, net	$	548,105	$	608,416

Depreciation expense for property, buildings and equipment totaled $17.0 million and $3.4 million, and $37.3 million and $6.8 million for the three and six months ended June 30, 2024 and 2023, respectively.

During the second quarter of 2024, the Company reclassified cost and accumulated depreciation of $53.4 million and $5.6 million, respectively, related to property, buildings and equipment associated with the previous WWE media production center in Stamford, Connecticut as held for sale, as the Company moved media production to the new WWE headquarters. During the three and six months ended June 30, 2024, the Company recognized an impairment charge of $24.3 million within the WWE segment as a result of reducing the carrying value of assets held for sale to their fair value less cost to sell, which is included as a component of selling, general and administrative expenses within the Company’s consolidated statements of operations. Assets held for sale of $31.0 million are included as a component of other current assets within our consolidated balance sheet as of June 30, 2024. These assets held for sale are being marketed for sale and it is the Company’s intention to complete the sale of these assets within the next twelve months.

Allowance for Doubtful Accounts

The changes in the allowance for doubtful accounts are as follows (in thousands):


	As of		Charged to						As of
	December 31,		Costs and				Foreign		June 30,
	2023		Expenses		Deductions		Exchange		2024
Six Months Ended June 30, 2024	$	1,093	$	1,366	$	(314)	$	—	$	2,145

Film and Television Content Costs

The following table presents the Company’s unamortized content costs, which are included as a component of other assets in the consolidated balance sheets (in thousands):



	Predominantly Monetized Individually				Predominantly Monetized as a Film Group
	As of				As of
	June 30,		December 31,		June 30,		December 31,
	2024		2023		2024		2023
Licensed and acquired program rights	$	—	$	—	$	23,166	$	21,413
Produced programming:
In release		423		1,410		1,675		2,049
Completed but not released		1		2,045		—		—
In production		667		1,350		984		819
In development		8		—		—		—
Total film and television costs	$	1,099	$	4,805	$	25,825	$	24,281

As of June 30, 2024, substantially all of the “in release” and “completed but not released” content costs that are monetized individually are estimated to be amortized over the next 12 months.

As of June 30, 2024, substantially all of the “licensed and acquired program rights” and “in release” content costs monetized as a film group are estimated to be amortized over the next three years.

Amortization and impairment of content costs, which are included as a component of direct operating costs in the consolidated statement of operations, consisted of the following (in thousands):


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
Content production amortization expense - assets monetized individually	$	1,477	$	—	$	4,701	$	—
Content production amortization expense - assets monetized as a film group		5,361		4,046		9,865		7,960
Content production impairment charges (1)		—		—		—		—
Total amortization and impairment of content costs	$	6,838	$	4,046	$	14,566	$	7,960

(1)Unamortized content costs are evaluated for impairment whenever events or changes in circumstances indicate that the fair value of a film predominantly monetized on its own or a film group may be less than its amortized costs. If conditions indicate a potential impairment, and the estimated future cash flows are not sufficient to recover the unamortized costs, the asset is written down to fair value. In addition, if we determine that content will not likely air, we will expense the remaining unamortized costs.

Other current assets

The following is a summary of other current assets (in thousands):



	As of
	June 30,		December 31,
	2024		2023
Prepaid taxes	$	64,377	$	57,885
Assets held for sale		31,000		7,500
Amounts due from the Group (Note 20)		30,808		11,599
Prepaid event and production-related costs		25,955		15,382
Prepaid insurance		3,789		8,145
Other		20,990		20,644
Total	$	176,919	$	121,155

Accrued Liabilities

The following is a summary of accrued liabilities (in thousands):



	As of
	June 30,		December 31,
	2024		2023
Legal settlements (Note 17)	$	335,000	$	—
Event and production-related costs		69,901		51,015
Payroll-related costs		63,268		100,982
Interest		41,032		41,634
Legal and professional fees		21,198		18,730
Accrued capital expenditures		13,594		29,550
Other		27,148		25,452
Total	$	571,141	$	267,363