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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Cash flows from operating activities:    
Net income $ 273 $ 163
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 398 511
Stock-based compensation expense 38 27
Gain on disposal of an investment (40)  
Deferred income taxes (14) (20)
Payments for broadcast rights (166) (218)
Income from equity method investments, net (35) (57)
Distribution from equity method investments - return on capital 139 251
Changes in operating assets and liabilities, net of acquisitions and dispositions:    
Accounts receivable 48 136
Prepaid and other current assets (12) (3)
Other noncurrent assets (11) (24)
Accounts payable (94) (63)
Accrued expenses and other current liabilities (1) 27
Income tax payable (59) (24)
Other noncurrent liabilities (21) (25)
Other 9 (2)
Net cash provided by operating activities 452 679
Cash flows from investing activities:    
Purchases of property and equipment (81) (77)
Proceeds from disposal of an investment 40  
Other investing activities, net 2 4
Net cash used in investing activities (39) (73)
Cash flows from financing activities:    
Proceeds from debt issuance, net of debt discounts 55  
Repayments of long-term debt (116) (62)
Purchase of treasury stock (246) (315)
Common stock dividends paid (112) (98)
Payments for capitalized software obligations (11) (12)
Contribution from noncontrolling interests 19 36
Cash paid for shares withheld for taxes (3) (17)
Other financing activities, net   2
Net cash used in financing activities (414) (466)
Net increase (decrease) in cash, cash equivalents and restricted cash (1) 140
Cash, cash equivalents and restricted cash at beginning of period 147 220
Cash, cash equivalents and restricted cash at end of period 146 360
Supplemental information:    
Interest paid 219 214
Income taxes paid, net of refunds 177 121
Non-cash investing and financing activities:    
Accrued and noncash purchases of property and equipment 15 27
Right-of-use assets obtained in exchange for operating lease obligations $ 25 $ 25