Additional Financial Information

9 Months Ended

Mar. 31, 2021

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Additional Financial Information

NOTE 11. ADDITIONAL FINANCIAL INFORMATION

Impairment and Restructuring Charges

Impairment and restructuring charges were $35 million and $9 million for the nine months ended March 31, 2021 and 2020, respectively, which were primarily comprised of severance costs principally at the Cable Network Programming segment.

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,
	2021			2020			2021			2020
	(in millions)
Transaction costs(a)	$	(2	)	$	(29	)	$	431		$	(72	)
Net gains (losses) on investments in equity securities(b)		43			(567	)		384			(185	)
U.K. Newspaper Matters Indemnity(c)		(15	)		(18	)		(43	)		(62	)
Other		35			(18	)		(20	)		(26	)
Total other, net	$	61		$	(632	)	$	752		$	(345	)

^{(a) The transaction costs for the nine months ended March 31, 2021 are primarily related to the partial settlement from Disney of $462 million related to the reimbursement of the Company’s prepayment of its share of the Divestiture Tax (See Note 1—Description of Business and Basis of Presentation). The transaction costs for the nine months ended March 31, 2020 are primarily related to costs associated with the profits participants litigation (See Note 14—Commitments and Contingencies in the 2020 Form 10-K under the heading “Profits Participants Litigation”) and the Separation and the Distribution (See Note 1—Description of Business and Basis of Presentation in the 2020 Form 10-K under the heading “The Distribution”) and included retention related costs.}

^(b) Net gains (losses) on investments in equity securities for the three and nine months ended March 31, 2021 included the gains related to the changes in fair value of the Company’s investment in Flutter (See Note 4—Fair Value) and for the three and nine months ended March 31, 2020 included the losses related to the changes in fair value of the Company’s investment in Roku, Inc. which was sold in March 2020 (See Note 3—Acquisitions, Disposals and Other Transactions in the 2020 Form 10-K under the heading “Roku”).

^(c) See Note 8—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, 2021		As of June 30, 2020
	(in millions)
Investments(a)	$	1,037	$	618
Operating lease ROU assets		474		539
Grantor Trust		291		247
Inventories, net		183		202
Other		190		195
Total other non-current assets	$	2,175	$	1,801

^(a) Included investments accounted for at fair value on a recurring basis of $926 million and $531 million as of March 31, 2021 and June 30, 2020, respectively (See Note 4—Fair Value).

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, 2021		As of June 30, 2020
	(in millions)
Accrued expenses	$	1,070	$	907
Program rights payable		625		485
Deferred revenue		214		152
Operating lease liabilities		90		122
Other current liabilities		237		240
Total accounts payable, accrued expenses and other current liabilities	$	2,236	$	1,906

Other Liabilities

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

	As of March 31, 2021		As of June 30, 2020
	(in millions)
Accrued non-current pension/postretirement liabilities	$	678	$	709
Non-current operating lease liabilities		413		452
Other non-current liabilities		321		321
Total other liabilities	$	1,412	$	1,482

Supplemental Information

	For the nine months ended March 31,
	2021			2020
	(in millions)
Supplemental cash flows information
Cash paid for interest	$	(370	)	$	(355	)
Cash paid for income taxes	$	(132	)	$	(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	$	-		$	-