Additional Financial Information

6 Months Ended

Dec. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Additional Financial Information

NOTE 13. ADDITIONAL FINANCIAL INFORMATION

Receivables, net

Receivables are presented net of allowances, which reflect the Company’s expected credit losses based on historical experience as well as current and expected economic conditions.

Receivables, net consist of:

	As of December 31, 2020		As of June 30, 2020
	(in millions)
Receivables	$	1,526	$	1,276
Less: allowances	(82)		(73)
Receivables, net	$	1,444	$	1,203

Other Non-Current Assets

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

	As of December 31, 2020		As of June 30, 2020
	(in millions)
Royalty advances to authors	$	354	$	348
Retirement benefit assets	121		94
Inventory(a)	285		133
News America Marketing deferred consideration	120		111
Other	313		353
Total Other non-current assets	$	1,193	$	1,039

(a)The balance as of December 31, 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 December 31, 2020		As of June 30, 2020
	(in millions)
Royalties and commissions payable	$	208	$	169
Current operating lease liabilities	131		131
Allowance for sales returns	201		174
Current tax payable	18		50
Other	306		314
Total Other current liabilities	$	864	$	838

Other, net

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

	For the three months ended December 31,				For the six months ended December 31,
	2020		2019		2020		2019
	(in millions)
Remeasurement of equity securities	$	37	$	(6)	$	46	$	(5)
Dividends received from equity security investments	1		$	—	3		1
Gain on remeasurement of previously-held interest in Elara (Note 3)	7		—		7		—
Other	9		8		15		10
Total Other, net	$	54	$	2	$	71	$	6

Supplemental Cash Flow Information

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

	For the six months ended December 31,
	2020		2019
	(in millions)
Cash paid for interest	$	28	$	33
Cash paid for taxes	$	98	$	69