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Additional Financial Information
 12 Months Ended
Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Additional Financial Information
NOTE 21. ADDITIONAL FINANCIAL INFORMATION
Other Non-Current Assets
The following table sets forth the components of Other non-current assets included in the Balance Sheets:
As of June 30,
20242023
(in millions)
Royalty advances to authors$375 $376 
Retirement benefit assets147 134 
Inventory(a)
226 267 
News America Marketing deferred consideration(b)
— 157 
Other422 407 
Total Other non-current assets$1,170 $1,341 
(a)Primarily consists of the non-current portion of programming rights.
(b)The balance of the News America Marketing deferred consideration was reclassified to Other current assets during the fiscal year ended June 30, 2024.
Other Current Liabilities
The following table sets forth the components of Other current liabilities included in the Balance Sheets:
As of June 30,
20242023
(in millions)
Royalties and commissions payable$215 $206 
Current operating lease liabilities117 112 
Allowance for sales returns141 154 
Programming rights payable
98 111 
Other334 370 
Total Other current liabilities$905 $953 
Accumulated Other Comprehensive Loss
The components of Accumulated other comprehensive loss were as follows:
For the fiscal years ended June 30,
202420232022
(in millions)
Accumulated other comprehensive loss, net of tax:
Cash flow hedge adjustments:
Balance, beginning of year
33 21 — 
Fiscal year activity(a)
(11)12 21 
Balance, end of year
22 33 21 
Benefit Plan Adjustments:
Balance, beginning of year
(328)(321)(392)
Fiscal year activity(b)
19 (7)71 
Balance, end of year
(309)(328)(321)
Foreign currency translation adjustments:
Balance, beginning of year
(952)(970)(549)
Fiscal year activity(12)18 (421)
Balance, end of year
(964)(952)(970)
Total accumulated other comprehensive loss, net of tax:
Balance, beginning of year
(1,247)(1,270)(941)
Fiscal year activity, net of income taxes(c)
(4)23 (329)
Balance, end of year
$(1,251)$(1,247)$(1,270)
(a)Net of income tax expense (benefit) of $(4) million, $4 million and $7 million for the fiscal years ended June 30, 2024, 2023 and 2022 respectively.
(b)Net of income tax expense (benefit) of $6 million, $(2) million and $19 million for the fiscal years ended June 30, 2024, 2023 and 2022, respectively.
(c)Excludes $(1) million, $(18) million and $(97) million relating to noncontrolling interests for the fiscal years ended June 30, 2024, 2023 and 2022, respectively.
Other, net
The following table sets forth the components of Other, net included in the Statements of Operations:
For the fiscal years ended June 30,
202420232022
(in millions)
Remeasurement of equity securities$(13)$(9)$(59)
Dividends received from equity security investments4 6 20 
Gain on sale of businesses(a)
— — 98 
Gain on remeasurement of previously-held interest
5 — 3 
Gain on dilution of PropertyGuru investment(b)
— — 15 
Other(26)4 (25)
Total Other, net$(30)$1 $52 
(a)During the fiscal year ended June 30, 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 fiscal year ended June 30, 2022, PropertyGuru completed its merger with Bridgetown 2 Holdings Limited. As a result of the merger and subsequent investments made in connection with the transaction, REA Group’s ownership interest in PropertyGuru was 17.5% and a gain of $15 million was recorded resulting from its ownership dilution in the transaction.
Supplemental Cash Flow Information
The following table sets forth the Company’s gross cash paid for interest and taxes:
For the fiscal years ended June 30,
202420232022
(in millions)
Cash paid for interest
$162 $117 $96 
Cash paid for taxes
156 150 180