Restructuring and Impairment Charges

12 Months Ended

Sep. 28, 2024

Restructuring and Related Activities [Abstract]

A summary of restructuring and impairment charges is as follows:


	2024		2023		2022
Star India - see Note 4	$	1,545	$	—	$	—
Goodwill	1,287		721		—
Content	187		2,577		—
Other	576		594		237
Restructuring and impairment charges	$	3,595	$	3,892	$	237

Star India

In fiscal 2024, we recorded non-cash impairment charges totaling $1.5 billion related to the Star India Transaction.

Goodwill

In the second quarter of fiscal 2024, as a result of Star India assets and liabilities being classified as held for sale, they were removed from the entertainment goodwill reporting units along with a proportional amount of goodwill. As a result, we evaluated the residual goodwill at our entertainment DTC services and linear networks reporting units for impairment. Star sports was a standalone reporting unit which did not have any goodwill.

In the fourth quarter of fiscal 2024, the Company performed a quantitative goodwill impairment test as part of our annual goodwill impairment assessment.

These evaluations resulted in non-cash goodwill impairment charges of $0.7 billion and $0.6 billion at our entertainment linear networks reporting unit in the second and fourth quarters of fiscal 2024, respectively. Goodwill was not impaired at the entertainment DTC services reporting unit.

In addition, as a result of our annual goodwill impairment assessment in fiscal 2023, we recorded non-cash goodwill impairment charges related to our entertainment and international sports linear networks reporting units of $0.7 billion.

Content

We recorded charges of $0.2 billion and $2.6 billion, in fiscal 2024 and fiscal 2023, respectively, as a result of our strategic changes in approach to content curation. The fiscal 2024 charges related to the removal of produced content from our entertainment linear networks and DTC services. The fiscal 2023 charges included $2.0 billion related to the removal of produced content from our entertainment DTC services and $0.6 billion related to the termination of certain third-party license agreements for the right to use content primarily on our entertainment DTC services. We paid approximately $0.4 billion of cash to terminate these license agreements.

Other

In fiscal 2024, the Company recorded charges of $0.3 billion for asset impairments at our retail business, $0.2 billion for impairments of equity investments and $0.1 billion of severance. In fiscal 2023, the Company recorded charges of $0.4 billion of severance, $0.1 billion for impairment of an equity investment and $0.1 billion for exiting our businesses in Russia. In fiscal 2022, the Company recorded charges of $0.2 billion, primarily due to asset impairments related to exiting our businesses in Russia.