XML 29 R19.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Additional Financial Information
 9 Months Ended
Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Additional Financial Information ADDITIONAL FINANCIAL INFORMATION
Restructuring, Impairment and Other Corporate Matters
The following table sets forth the components of Restructuring, impairment and other corporate matters included in the Statements of Operations:
For the three months ended March 31,
For the nine months ended March 31,
2024202320242023
(in millions)
Restructuring charges$— $(1)$— $(12)
Other corporate matters
U.K. Newspaper Matters Indemnity(a)
(3)(24)(15)(106)
Legal settlement costs(b)
— (850)(4)(850)
Other(12)(18)(5)(47)
Total restructuring, impairment and other corporate matters$(15)$(893)$(24)$(1,015)
(a)
See Note 8—Commitments and Contingencies under the heading “U.K. Newspaper Matters Indemnity.” The decrease for the nine months ended March 31, 2024, as compared to the corresponding period of fiscal 2023, was attributable to an increase in the number of civil claims submitted in fiscal 2023 in advance of the September 30, 2022 cutoff date set by the judge for this phase of the litigation.
(b)
See Note 8—Commitments and Contingencies under the heading “Defamation and Disparagement Claims.”
Interest Expense, net
The following table sets forth the components of Interest expense, net included in the Statements of Operations:
For the three months ended March 31,
For the nine months ended March 31,
2024202320242023
(in millions)
Interest expense$(99)$(86)$(309)$(262)
Interest income44 31 140 79 
Total interest expense, net$(55)$(55)$(169)$(183)
Non-Operating Other, net
The following table sets forth the components of Non-operating other, net included in the Statements of Operations:
For the three months ended March 31,
For the nine months ended March 31,
2024202320242023
(in millions)
Gain on sale of assets(a)
$167 $— $167 $— 
Net gains (losses) on investments in equity securities(b)
81 183 (110)320 
Other(6)(9)(18)(27)
Total non-operating other, net$242 $174 $39 $293 
(a)
See Note 2—Acquisitions, Disposals and Other Transactions.
(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), equity earnings (losses) of affiliates, and, for the nine months ended March 31, 2024, the losses related to the Company’s investment in a live streaming mobile platform. As a result of an additional round of financing at a lower valuation, a write-down was recognized for this investment which is accounted for using the measurement alternative method.
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,
2024
As of
June 30,
2023
 (in millions)
Investments(a)
$1,250 $1,034 
Operating lease assets895 947 
Inventories, net692 642 
Grantor Trust247 276 
Other250 269 
Total other non-current assets$3,334 $3,168 
(a)
Includes investments accounted for at fair value on a recurring basis of $868 million and $884 million as of March 31, 2024 and June 30, 2023, 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,
2024
As of
June 30,
2023
(in millions)
Accrued expenses$873 $1,028 
Programming payable754 785 
Deferred revenue168 160 
Operating lease liabilities73 72 
Other current liabilities349 469 
Total accounts payable, accrued expenses and other current liabilities$2,217 $2,514 
Other Liabilities
The following table sets forth the components of Other liabilities included in the Balance Sheets:
As of
March 31,
2024
As of
June 30,
2023
(in millions)
Non-current operating lease liabilities$870 $925 
Accrued non-current pension/postretirement liabilities287 361 
Other non-current liabilities222 198 
Total other liabilities$1,379 $1,484 
Future Performance Obligations
As of March 31, 2024, approximately $5.2 billion of revenues are expected to be recognized primarily over the next one to three years. The Company’s most significant remaining performance obligations relate to affiliate contracts, sports advertising contracts and content licensing contracts with fixed fees. The amount disclosed does not include (i) revenues related to performance obligations that are part of a contract whose original expected duration is one year or less, (ii) revenues that are in the form of sales- or usage-based royalties and (iii) revenues related to performance obligations for which the Company elects to recognize revenue in the amount it has a right to invoice.
Supplemental Information
For the nine months ended March 31,
 20242023
 (in millions)
Supplemental cash flows information
Cash paid for interest$(338)$(324)
Cash paid for income taxes$(148)$(239)