Additional Financial Information

9 Months Ended

Mar. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Additional Financial Information

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 March 31, 2021		As of June 30, 2020
	(in millions)
Receivables	$	1,415	$	1,276
Less: allowances	(80)		(73)
Receivables, net	$	1,335	$	1,203

Other Non-Current Assets

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

	As of March 31, 2021		As of June 30, 2020
	(in millions)
Royalty advances to authors	$	363	$	348
Retirement benefit assets	130		94
Inventory(a)	292		133
News America Marketing deferred consideration	124		111
Other	310		353
Total Other non-current assets	$	1,219	$	1,039

(a)The balance as of March 31, 2021 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 March 31, 2021		As of June 30, 2020
	(in millions)
Royalties and commissions payable	$	239	$	169
Current operating lease liabilities	139		131
Allowance for sales returns	188		174
Current tax payable	6		50
Other	351		314
Total Other current liabilities	$	923	$	838

Other, net

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

	For the three months ended March 31,				For the nine months ended March 31,
	2021		2020		2021		2020
	(in millions)
Remeasurement of equity securities	$	33	$	(17)	$	79	$	(22)
Dividends received from equity security investments	6		1		9		2
Gain on sale of businesses(a)	18		20		18		20
Gain on remeasurement of previously-held interest in Elara (Note 3)	—		—		7		—
Other	4		9		19		19
Total Other, net	$	61	$	13	$	132	$	19

(a)During the three and nine months ended March 31, 2021, Move sold the assets associated with its Top Producer professional software and service product and recognized an $18 million gain on the sale.

During the three and nine months ended March 31, 2020, REA Group contributed its businesses located in Singapore and Indonesia into a joint venture with 99.co in return for an equity method investment in the combined entity. As a result of the deconsolidation of these entities, REA Group recognized a $20 million gain in Other, net.

Supplemental Cash Flow Information

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

	For the nine months ended March 31,
	2021		2020
	(in millions)
Cash paid for interest	$	41	$	43
Cash paid for taxes	$	131	$	93