Leases (Tables)

12 Months Ended

Jun. 30, 2021

Leases [Abstract]

Schedule of Lessee Operating Lease Components of Balance Sheet and Other Supplemental Information

Effective July 1, 2019, the Company changed its method of accounting for leases due to the adoption of ASU 2016-02, “Leases (Topic 842)”, as amended. The following amounts were recorded in the Company’s Balance Sheet relating to its operating leases and other supplemental information:

	For the years ended June 30,
	2021			2020
	(in millions)
ROU assets	$	469		$	539
Lease liabilities
Current lease liabilities	$	92		$	122
Non-current lease liabilities		409			452
Total lease liabilities	$	501		$	574
Other supplemental information
Weighted average remaining lease term	8 years			8 years
Weighted average discount rate		3	%		3	%

Summary of Lease Costs and Supplemental Cash Flows Information

The following table presents information about the Company’s lease costs and supplemental cash flows information for leases:

	For the years ended June 30,
	2021		2020
	(in millions)
Lease costs
Total lease costs(a)	$	126	$	126
Supplemental cash flows information
Operating cash flows from operating leases	$	134	$	166
ROU assets obtained in exchange for operating lease liabilities	$	49	$	87

^(a) Total lease costs of $126 million for the years ended June 30, 2021 and 2020 are net of sublease income of approximately $30 million and $50 million, respectively. Approximately $15 million and $40 million of the sublease income for the years ended June 30, 2021 and 2020, respectively, relates to office facilities that were subleased through November 2020 to News Corporation.

Schedule of lease payments relating to the Company’s operating leases

The following table presents the lease payments relating to the Company’s operating leases:

	As of June 30, 2021
	(in millions)
Fiscal Year
2022	$	103
2023		101
2024		100
2025		90
2026		50
Thereafter		145
Total lease payments		589
Less: imputed interest		(88	)
Present value of operating lease liabilities	$	501