Additional Financial Information

9 Months Ended

Mar. 31, 2023

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 March 31, 2023		As of June 30, 2022
	(in millions)
Receivables	$	1,601	$	1,569
Less: allowances	(61)		(67)
Receivables, net	$	1,540	$	1,502

Other Non-Current Assets

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

	As of March 31, 2023		As of June 30, 2022
	(in millions)
Royalty advances to authors	$	391	$	403
Retirement benefit assets	150		133
Inventory(a)	273		268
News America Marketing deferred consideration	153		142
Other	444		438
Total Other non-current assets	$	1,411	$	1,384

(a)Primarily consists of the non-current portion of programming rights.

Other Current Liabilities

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

	As of March 31, 2023		As of June 30, 2022
	(in millions)
Royalties and commissions payable	$	255	$	215
Current operating lease liabilities	113		139
Allowance for sales returns	154		173
Current tax payable	14		18
Other	447		430
Total Other current liabilities	$	983	$	975

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,
	2023		2022		2023		2022
	(in millions)
Remeasurement of equity securities	$	(2)	$	(19)	$	(16)	$	—
Dividends received from equity security investments	2		8		6		18
Gain on sale of businesses(a)	—		—		—		98
Gain on remeasurement of previously-held interest	—		—		—		3
Gain on dilution of PropertyGuru investment(b)	—		15		—		15
Other	14		9		—		9
Total Other, net	$	14	$	13	$	(10)	$	143

(a)During the nine months ended March 31, 2022, REA Group acquired an 18% interest in PropertyGuru in exchange for all shares of REA Group’s entities in Malaysia and Thailand. The Company recognized a gain of $107 million on the disposition of such entities.

(b)During the three months ended March 31, 2022, PropertyGuru completed its merger with Bridgetown 2 Holdings Limited. REA Group recognized a gain of approximately $15 million resulting from its ownership dilution in the transaction. At March 31, 2022, REA Group held an ownership interest of 17.5% in PropertyGuru.

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,
	2023		2022
	(in millions)
Cash paid for interest	$	69	$	63
Cash paid for taxes	$	114	$	132