Restructuring, Impairment and Other Corporate Matters

12 Months Ended

Jun. 30, 2024

Restructuring and Related Activities [Abstract]

Restructuring, Impairment and Other Corporate Matters

NOTE 4. 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 years ended June 30,
	2024		2023		2022
	(in millions)
Restructuring charges	$	(13)	$	(111)	$	—
Other corporate matters
Legal settlement costs(a)	(24)		(894)		(6)
U.K. Newspaper Matters Indemnity(a)	(20)		(117)		(81)
Other	(10)		(60)		(70)
Total restructuring, impairment and other corporate matters	$	(67)	$	(1,182)	$	(157)

(a) See Note 14—Commitments and Contingencies under the headings “Defamation and Disparagement Claims” and "U.K. Newspaper Matters Indemnity."

Restructuring

During fiscal 2024, 2023 and 2022, the Company recognized restructuring charges of $13 million, $111 million and nil, respectively. These charges were primarily comprised of severance costs at the Cable Network Programming and Television reportable segments and Corporate and Other for fiscal 2024 and 2023.

Changes in the restructuring program liabilities were as follows:

	One time termination benefits		Contract termination costs		Total
	(in millions)
Balance, June 30, 2021	$	(16)	$	(22)	$	(38)
Payments	8		3		11
Balance, June 30, 2022	$	(8)	$	(19)	$	(27)
Additions	(111)		—		(111)
Payments	52		2		54
Balance, June 30, 2023	$	(67)	$	(17)	$	(84)
Additions and other	(19)		6		(13)
Payments	69		11		80
Balance, June 30, 2024	$	(17)	$	—	$	(17)

Amounts recognized in the Balance Sheets consist of:

	For the years ended June 30,
	2024		2023		2022
	(in millions)
Accounts payable, accrued expenses and other current liabilities	$	17	$	74	$	16
Other liabilities	—		10		11
Total restructuring liabilities	$	17	$	84	$	27