Additional Financial Information

9 Months Ended

Mar. 31, 2020

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Additional Financial Information

NOTE 14. ADDITIONAL FINANCIAL INFORMATION

Other, net

The following table sets forth the components of Other, net included in the Statements of Operations:

	For the three months ended March 31,						For the nine months ended March 31,
	2020			2019			2020			2019
	(in millions)
Net (losses) gains on investments in equity securities(a)	$	(567	)	$	211		$	(185	)	$	132
Transaction costs(b)		(29	)		(106	)		(72	)		(184	)
U.K. Newspaper Matters Indemnity(c)		(18	)		(15	)		(62	)		(45	)
Other		(18	)		(6	)		(26	)		(19	)
Total other, net	$	(632	)	$	84		$	(345	)	$	(116	)

^(a) Net (losses) gains on investments in equity securities for the three and nine months ended March 31, 2020 included the losses related to changes in fair value of the Company’s investment in Roku which was sold in March 2020 (See Note 2—Acquisitions, Disposals and Other Transactions under the heading “Roku”).

^(b) The transaction costs for the three and nine months ended March 31, 2020 and 2019 are primarily related to the Separation and the Distribution and include retention related costs and for the three and nine months ended March 31, 2020 also include costs associated with the profits participants litigation (See Note 11—Commitments and Contingencies under the heading “Profits Participants Litigation”). The transaction costs for the nine months ended March 31, 2020 were offset by an adjustment to the receivables from Disney pursuant to the Separation and Distribution Agreement.

^(c) See Note 11—Commitments and Contingencies under the heading “U.K. Newspaper Matters Indemnity.”

Other Non-Current Assets

The following table sets forth the components of Other non-current assets included in the Balance Sheets:

	As of March 31, 2020		As of June 30, 2019
	(in millions)
Operating lease ROU assets	$	531	$	-
Investments(a)		347		865
Inventories, net		239		205
Other(b)		431		455
Total other non-current assets	$	1,548	$	1,525

^(a) Includes investments accounted for at fair value on a recurring basis of $256 million and $761 million as of March 31, 2020 and June 30, 2019, respectively (See Note 4—Fair Value).

^(b) Includes $223 million and $249 million of assets in the Grantor Trust (as defined in Note 14—Pension and Other Postretirement Benefits in the 2019 Form 10-K) as of March 31, 2020 and June 30, 2019, respectively.

Accounts Payable, Accrued Expenses and Other Current Liabilities

The following table sets forth the components of Accounts payable, accrued expenses and other current liabilities included in the Balance Sheets:

	As of March 31, 2020		As of June 30, 2019
	(in millions)
Accrued expenses	$	764	$	835
Program rights payable		533		514
Deferred revenue		149		169
Operating lease liabilities		134		-
Other current liabilities		200		194
Total accounts payable, accrued expenses and other current liabilities	$	1,780	$	1,712

Other Liabilities

The following table sets forth the components of Other liabilities included in the Balance Sheets:

	As of March 31, 2020		As of June 30, 2019
	(in millions)
Accrued non-current pension/postretirement liabilities	$	550	$	543
Non-current operating lease liabilities		431		-
Other non-current liabilities		331		356
Total other liabilities	$	1,312	$	899

Supplemental Information

	For the nine months ended March 31,
	2020			2019
	(in millions)
Supplemental cash flows information
Cash paid for interest	$	(355	)	$	(39	)
Cash paid for income taxes	$	(75	)	$	-
Supplemental information on acquisitions
Fair value of assets acquired, excluding cash	$	773		$	-
Cash acquired		15			-
Liabilities assumed		(53	)		-
Noncontrolling interests		(109	)		-
Cash paid		(626	)		-
Fair value of equity instruments consideration	$	-		$	-