Property, Plant and Equipment

12 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

NOTE 8. PROPERTY, PLANT AND EQUIPMENT

	Original Useful Lives	As of June 30,
		2024		2023
		(in millions)
Property, plant and equipment:
Land		$	121	$	121
Buildings and leaseholds	3 to 50 years	1,479		1,468
Machinery and equipment	2 to 20 years	782		1,155
Capitalized software	2 to 15 years	1,715		1,552
Construction in progress		86		98
Total Property, plant and equipment		4,183		4,394
Accumulated depreciation and amortization(a)		(2,911)		(3,113)
Total Property, plant and equipment, net		$	1,272	$	1,281

(a)Includes accumulated amortization of capitalized software of approximately $1,175 million and $1,038 million as of June 30, 2024 and 2023, respectively.

Depreciation and amortization related to property, plant and equipment was $341 million, $309 million and $289 million for the fiscal years ended June 30, 2024, 2023 and 2022, respectively. This includes amortization of capitalized software of $252 million, $215 million and $192 million for the fiscal years ended June 30, 2024, 2023 and 2022, respectively.

Fixed Asset Impairments

During the fiscal year ended June 30, 2024, the Company recognized non-cash impairment charges of $22 million at the News Media segment related to the write-down of fixed assets associated with the combination of certain United Kingdom (“U.K.”) printing operations with those of a third party.

During the fiscal year ended June 30, 2022, the Company recognized non-cash impairment charges of $15 million related to the write-down of fixed assets associated with the shutdown and sale of certain U.S. printing facilities at the Dow Jones segment.