Additional Financial Information

3 Months Ended

Sep. 30, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Additional Financial Information

NOTE 12. ADDITIONAL FINANCIAL INFORMATION

Receivables, net

Receivables are presented net of an allowance for doubtful accounts, which is an estimate of amounts that may not be collectible. The allowance for doubtful accounts is estimated based on historical experience, receivable aging, current and future economic trends and specific identification of certain receivables that are at risk of not being collected.

Receivables, net consist of:

	As of September 30, 2020		As of June 30, 2020
	(in millions)
Receivables	$	1,315	$	1,276
Allowance for doubtful accounts	(75)		(73)
Receivables, net	$	1,240	$	1,203

Other Non-Current Assets

The following table sets forth the components of Other non-current assets:

	As of September 30, 2020		As of June 30, 2020
	(in millions)
Royalty advances to authors	$	346	$	348
Retirement benefit assets	108		94
Inventory(a)	282		133
News America Marketing deferred consideration	117		111
Other	322		353
Total Other non-current assets	$	1,175	$	1,039

(a)The balance as of September 30, 2020 primarily consists of the non-current portion of programming rights. Upon adoption of ASU 2019-02, the Company reclassified the current portion of its programming rights, totaling $151 million, from Inventory, net to Other non-current assets. The Company’s programming rights are substantially all monetized as a film group.

Other Current Liabilities

The following table sets forth the components of Other current liabilities:

	As of September 30, 2020		As of June 30, 2020
	(in millions)
Royalties and commissions payable	$	198	$	169
Current operating lease liabilities	124		131
Allowance for sales returns	175		174
Current tax payable	66		50
Other	306		314
Total Other current liabilities	$	869	$	838

Other, net

The following table sets forth the components of Other, net:

	For the three months ended September 30,
	2020		2019
	(in millions)
Remeasurement of equity securities	$	9	$	1
Dividends received from equity security investments	2		—
Other	6		3
Total Other, net	$	17	$	4

Supplemental Cash Flow Information

The following table sets forth the Company’s cash paid for taxes and interest:

	For the three months ended September 30,
	2020	2019
	(in millions)
Cash paid for interest	16	16
Cash paid for taxes	23	27