Additional Financial Information

6 Months Ended

Dec. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Additional Financial Information

NOTE 12. 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, 2023		As of June 30, 2023
	(in millions)
Receivables	$	1,579	$	1,482
Less: allowances	(63)		(57)
Receivables, net	$	1,516	$	1,425

Other Non-Current Assets

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

	As of December 31, 2023		As of June 30, 2023
	(in millions)
Royalty advances to authors	$	384	$	376
Retirement benefit assets	141		134
Inventory(a)	236		267
News America Marketing deferred consideration	164		157
Other	395		407
Total Other non-current assets	$	1,320	$	1,341

(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 December 31, 2023		As of June 30, 2023
	(in millions)
Royalties and commissions payable	$	242	$	206
Current operating lease liabilities	111		112
Allowance for sales returns	155		154
Current tax payable	11		16
Other	359		465
Total Other current liabilities	$	878	$	953

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,
	2023		2022		2023		2022
	(in millions)
Remeasurement of equity securities	$	13	$	(11)	$	(10)	$	(14)
Dividends received from equity security investments	1		2		3		4
Gain on remeasurement of previously-held interest	—		—		4		—
Other	8		3		(10)		(14)
Total Other, net	$	22	$	(6)	$	(13)	$	(24)

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,
	2023		2022
	(in millions)
Cash paid for interest	$	51	$	54
Cash paid for taxes	$	74	$	81