Description of Business and Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Calculation of Diluted Shares

The following table shows the calculation of diluted shares (in millions):



	Year Ended December 31,
	2017	2018	2019
Shares used in computation of basic earnings per share	480	487	494
Total dilutive effect of outstanding stock awards	13	13	10
Shares used in computation of diluted earnings per share	493	500	504

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

We adopted this ASU in Q1 2018 on a retrospective basis with the following impacts to our consolidated statements of cash flows (in millions):



Year Ended December 31, 2017	Previously Reported			Adjustments			As Revised
Operating activities	$	18,434		$	(69	)	$	18,365
Investing activities	(27,819		)	735			(27,084		)
Financing activities	9,860			68			9,928
Net change in cash, cash equivalents, and restricted cash	$	475		$	734		$	1,209

In March 2019, the FASB issued an ASU amending the accounting for film costs, inclusive of episodic television and movie costs. The new guidance aligns the accounting for production costs of episodic television with that of movies by requiring production costs to be capitalized. Previously, we only capitalized a portion of the production costs related to our produced episodic television content. We adopted this ASU as of January 1, 2019 and began capitalizing substantially all of our production costs. Adoption of this ASU resulted in approximately $1.0 billion of incremental capitalized film costs classified in “Other Assets” as of December 31, 2019.