XML 19 R7.htm IDEA: XBRL DOCUMENT v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Operating activities:        
Net income $ 242 $ 283 $ 392 $ 427
Net loss from discontinued operations, net of tax 0 23 0 28
Net income from continuing operations 242 306 392 455
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities from continuing operations:        
Depreciation and amortization 118 113 235 225
Operating lease expense     34 37
Equity losses of affiliates 2 8 4 11
Impairment charges     13 0
Deferred income taxes     62 80
Other, net     9 (112)
Change in operating assets and liabilities, net of acquisitions:        
Receivables and other assets     (353) (247)
Inventories, net     31 (31)
Accounts payable and other liabilities     (111) (140)
Net cash provided by operating activities from continuing operations     316 278
Investing activities:        
Capital expenditures     (180) (157)
Proceeds from sales of property, plant and equipment     1 0
Acquisitions, net of cash acquired     (97) (13)
Purchases of investments in equity affiliates and other     (30) (107)
Proceeds from sales of investments in equity affiliates and other     62 234
Other, net     (7) (13)
Net cash used in investing activities from continuing operations     (251) (56)
Financing activities:        
Borrowings     0 61
Repayment of borrowings     (12) (196)
Repurchase of shares     (264) (78)
Dividends paid     (104) (92)
Other, net     (39) (37)
Net cash used in financing activities from continuing operations     (419) (342)
Cash flows from discontinued operations:        
Net cash (used in) provided by operating activities from discontinued operations     (6) 90
Net cash used in investing activities from discontinued operations     0 (43)
Net cash used in financing activities from discontinued operations     0 (11)
Net cash (used in) provided by discontinued operations     (6) 36
Net change in cash, cash equivalents and restricted cash, including discontinued operations     (360) (84)
Effect of exchange rate changes on cash, cash equivalents and restricted cash, including discontinued operations     8 (30)
Cash, cash equivalents and restricted cash, including discontinued operations, beginning of year     2,403 1,960
Cash, cash equivalents and restricted cash, including discontinued operations, end of period 2,051 1,846 2,051 1,846
Less: Cash and cash equivalents at end of period of discontinued operations 0 (58) 0 (58)
Less: Restricted cash included in Other current assets [1] 0 (37) 0 (37)
Cash and cash equivalents $ 2,051 $ 1,751 $ 2,051 $ 1,751
[1] Represented restricted cash in escrow to fund an acquisition at the Book Publishing segment which closed in the third quarter of fiscal 2025.