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Additional Financial Information
 9 Months Ended
Mar. 31, 2023
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 March 31,
For the nine months ended March 31,
2023202220232022
(in millions)
Interest expense$(86)$(92)$(262)$(287)
Interest income31 1 79 2 
Total interest expense, net$(55)$(91)$(183)$(285)
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,
2023202220232022
(in millions)
Legal settlement costs(a)
$(850)$— $(850)$— 
Net gains (losses) on investments in equity securities(b)
182 (191)317 (293)
U.K. Newspaper Matters Indemnity(a)
(24)(22)(106)(71)
Transaction costs
(17)(17)(45)(41)
Other(10)(3)(38)30 
Total other, net$(719)$(233)$(722)$(375)
(a)
See Note 8—Commitments and Contingencies under the headings “Defamation and Disparagement Claims” and “U.K. Newspaper Matters Indemnity.”
(b)
Net gains (losses) on investments in equity securities includes the gains (losses) 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
March 31,
2023
As of
June 30,
2022
 (in millions)
Operating lease assets(a)
$965 $477 
Investments(b)
954 578 
Inventories, net692 521 
Grantor Trust269 270 
Other265 225 
Total other non-current assets$3,145 $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 $806 million and $435 million as of March 31, 2023 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
March 31,
2023
As of
June 30,
2022
(in millions)
Accrued expenses(a)
$1,662 $992 
Programming payable836 686 
Deferred revenue186 209 
Operating lease liabilities77 107 
Other current liabilities392 302 
Total accounts payable, accrued expenses and other current liabilities$3,153 $2,296 
(a)
See Note 8—Commitments and Contingencies under the heading “Defamation and Disparagement Claims.”
Other Liabilities
The following table sets forth the components of Other liabilities included in the Balance Sheets:
As of
March 31,
2023
As of
June 30,
2022
(in millions)
Non-current operating lease liabilities(a)
$930 $405 
Accrued non-current pension/postretirement liabilities426 447 
Other non-current liabilities222 268 
Total other liabilities$1,578 $1,120 
(a)
See Note 8—Commitments and Contingencies under the heading “Commitments.”
Future Performance Obligations
As of March 31, 2023, approximately $4.0 billion of revenues are expected to be recognized primarily over the next one to three years. The Company’s most significant remaining performance obligations relate to affiliate contracts, sports advertising contracts and content licensing contracts with fixed fees. The amount disclosed does not include (i) revenues related to performance obligations that are part of a contract whose original expected duration is one year or less, (ii) revenues that are in the form of sales- or usage-based royalties and (iii) revenues related to performance obligations for which the Company elects to recognize revenue in the amount it has a right to invoice.
Supplemental Information
For the nine months ended March 31,
 20232022
 (in millions)
Supplemental cash flows information
Cash paid for interest$(324)$(363)
Cash paid for income taxes$(239)$(204)
 
Supplemental information on acquisitions
Fair value of assets acquired, excluding cash$— $348 
Cash acquired— 7 
Liabilities assumed— (47)
Redeemable noncontrolling interests issued— (5)
Cash paid— (250)
Fair value of equity instruments issued as consideration to third parties(a)
— 53 
Issuance of subsidiary common units— (53)
Fair value of equity instruments consideration$— $— 
(a)
Includes Redeemable noncontrolling interests.