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Additional Financial Information
 3 Months Ended
Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Additional Financial Information ADDITIONAL FINANCIAL INFORMATION
Interest expense, net
The following table sets forth the components of Interest expense, net included in the Statements of Operations:
For the three months ended September 30,
20222021
(in millions)
Interest expense$(87)$(97)
Interest income19 — 
Interest expense, net$(68)$(97)
Other, net
The following table sets forth the components of Other, net included in the Statements of Operations:
For the three months ended September 30,
20222021
(in millions)
U.K Newspaper Matters Indemnity(a)
$(61)$(17)
Net gains on investments in equity securities(b)
21 63 
Transaction costs
(16)(12)
Other(20)35 
Total other, net$(76)$69 
(a)
See Note 8—Commitments and Contingencies under the heading “U.K. Newspaper Matters Indemnity.”
(b)
Net gains on investments in equity securities for the three months ended September 30, 2022 and 2021 included the gains related to the change in fair value of the Company’s investment in Flutter (See Note 4—Fair Value).
Other Non-Current Assets
The following table sets forth the components of Other non-current assets included in the Balance Sheets:
 
As of
September 30,
2022
As of
June 30,
2022
 (in millions)
Investments(a)
$649 $578 
Inventories, net646 521 
Operating lease assets453 477 
Grantor Trust252 270 
Other229 225 
Total other non-current assets$2,229 $2,071 
(a)
Includes investments accounted for at fair value on a recurring basis of $505 million and $435 million as of September 30, 2022 and June 30, 2022, 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
September 30,
2022
As of
June 30,
2022
(in millions)
Accrued expenses$824 $992 
Programming payable727 686 
Deferred revenue282 209 
Operating lease liabilities107 107 
Other current liabilities422 302 
Total accounts payable, accrued expenses and other current liabilities$2,362 $2,296 
Other Liabilities
The following table sets forth the components of Other liabilities included in the Balance Sheets:
As of
September 30,
2022
As of
June 30,
2022
(in millions)
Accrued non-current pension/postretirement liabilities$441 $447 
Non-current operating lease liabilities387 405 
Other non-current liabilities249 268 
Total other liabilities$1,077 $1,120 
Future Performance Obligations
As of September 30, 2022, approximately $4.0 billion of revenues are expected to be recognized primarily over the next one to three years. The Company’s most significant remaining performance obligations relate to affiliate contracts, sports advertising contracts and content licensing contracts with fixed fees. The amount disclosed does not include (i) revenues related to performance obligations that are part of a contract whose original expected duration is one year or less, (ii) revenues that are in the form of sales- or usage-based royalties and (iii) revenues related to performance obligations for which the Company elects to recognize revenue in the amount it has a right to invoice.
Supplemental Information
For the three months ended September 30,
 20222021
 (in millions)
Supplemental cash flows information
Cash paid for interest$(151)$(168)
Cash paid for income taxes$(8)$(66)
 
Supplemental information on acquisitions
Fair value of assets acquired, excluding cash$— $120 
Cash paid— (75)
Fair value of equity instruments consideration— 45 
Issuance of subsidiary common units— (45)
Fair value of equity instruments consideration$— $—