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Additional Financial Information
 6 Months Ended
Dec. 31, 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 December 31,
For the six months ended December 31,
2022202120222021
(in millions)
Interest expense$(89)$(98)$(176)$(195)
Interest income29 1 48 1 
Total interest expense, net$(60)$(97)$(128)$(194)
Other, net
The following table sets forth the components of Other, net included in the Statements of Operations:
For the three months ended December 31,
For the six months ended December 31,
2022202120222021
(in millions)
Net gains (losses) on investments in equity securities(a)
$114 $(165)$135 $(102)
U.K. Newspaper Matters Indemnity(b)
(21)(32)(82)(49)
Transaction costs
(12)(11)(28)(24)
Other(8)(3)(28)33 
Total other, net$73 $(211)$(3)$(142)
(a)
Net gains (losses) on investments in equity securities for the three and six months ended December 31, 2022 and 2021 include the gains (losses) related to the change in fair value of the Company’s investment in Flutter (See Note 4—Fair Value).
(b)
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
December 31,
2022
As of
June 30,
2022
 (in millions)
Operating lease assets(a)
$969 $477 
Investments(b)
772 578 
Inventories, net680 521 
Grantor Trust264 270 
Other237 225 
Total other non-current assets$2,922 $2,071 
(a)
See Note 8—Commitments and Contingencies under the heading “Commitments.”
(b)
Includes investments accounted for at fair value on a recurring basis of $625 million and $435 million as of December 31, 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
December 31,
2022
As of
June 30,
2022
(in millions)
Programming payable$962 $686 
Accrued expenses939 992 
Deferred revenue148 209 
Operating lease liabilities109 107 
Other current liabilities385 302 
Total accounts payable, accrued expenses and other current liabilities$2,543 $2,296 
Other Liabilities
The following table sets forth the components of Other liabilities included in the Balance Sheets:
As of
December 31,
2022
As of
June 30,
2022
(in millions)
Non-current operating lease liabilities(a)
$900 $405 
Accrued non-current pension/postretirement liabilities427 447 
Other non-current liabilities176 268 
Total other liabilities$1,503 $1,120 
(a)
See Note 8—Commitments and Contingencies under the heading “Commitments.”
Future Performance Obligations
As of December 31, 2022, approximately $4.5 billion of revenues are expected to be recognized primarily over the next one to three years. The Company’s most significant remaining performance obligations relate to affiliate contracts, sports advertising contracts and content licensing contracts with fixed fees. The amount disclosed does not include (i) revenues related to performance obligations that are part of a contract whose original expected duration is one year or less, (ii) revenues that are in the form of sales- or usage-based royalties and (iii) revenues related to performance obligations for which the Company elects to recognize revenue in the amount it has a right to invoice.
Supplemental Information
For the six months ended December 31,
 20222021
 (in millions)
Supplemental cash flows information
Cash paid for interest$(174)$(200)
Cash paid for income taxes$(179)$(155)
 
Supplemental information on acquisitions
Fair value of assets acquired, excluding cash$— $335 
Cash acquired— 10 
Liabilities assumed— (48)
Redeemable noncontrolling interests issued— (5)
Cash paid— (239)
Fair value of equity instruments issued as consideration to third parties(a)
— 53 
Issuance of subsidiary common units— (53)
Fair value of equity instruments consideration$— $— 
(a)
Includes Redeemable noncontrolling interests.