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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 29, 2024
Dec. 31, 2023
Dec. 25, 2022
Cash flows from operating activities      
Net earnings (loss) $ 394.4 $ (1,487.8) $ 203.0
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation of property, plant and equipment 94.7 127.7 127.3
Loss on disposal of business 37.4 539.0 22.1
Impairment of goodwill 0.0 1,191.2 0.0
Impairment of intangibles and production assets 0.0 116.0 281.0
Loss on Discovery Family Channel investment 78.2 0.0 0.0
Inventory obsolescence 22.4 91.2 45.2
Amortization of intangible assets 68.3 83.0 105.3
Program cost amortization 49.3 448.9 555.5
Deferred income taxes (20.6) (243.5) (130.1)
Stock-based compensation 50.8 72.4 83.4
Other non-cash items 13.0 (6.1) 3.2
Changes in operating assets and liabilities, net of acquired and disposed balances:      
Decrease in accounts receivable 77.3 15.5 339.6
Decrease (increase) in inventories 22.1 257.1 (184.7)
Decrease in prepaid expenses and other current assets 58.9 34.7 17.0
Program production costs (25.3) (408.0) (767.7)
Decrease in accounts payable and accrued liabilities (78.8) (109.7) (278.7)
Change in net deemed repatriation tax (45.9) (34.4) (18.4)
Other 51.2 38.4 (30.1)
Net cash provided by operating activities 847.4 725.6 372.9
Cash flows from investing activities      
Additions to property, plant and equipment (87.2) (135.5) (128.2)
Additions to software development (110.3) (73.8) (46.0)
Acquisitions, net of cash acquired 0.0 0.0 (146.3)
Net (settlement) proceeds from sale of business, net of cash transferred (12.0) 329.6 0.0
Purchase of investments (571.0) 0.0 0.0
Maturity of investments 583.0 0.0 0.0
Other (6.2) (2.7) 7.5
Net cash (utilized) provided by investing activities (203.7) 117.6 (313.0)
Cash flows from financing activities      
Proceeds from borrowings 498.6 2.6 3.8
Repayments of borrowings (581.3) (359.6) (206.0)
Net (repayments) proceeds of other short-term borrowings 0.0 (41.6) 141.7
Purchases of common stock 0.0 0.0 (125.0)
Stock-based compensation transactions 7.6 0.0 74.2
Dividends paid (389.9) (388.0) (385.3)
Payments related to tax withholding for share-based compensation (14.4) (16.8) (24.0)
Payment of financing costs (5.3) 0.0 0.0
Other (12.8) (14.7) (32.7)
Net cash utilized by financing activities (497.5) (818.1) (553.3)
Effect of exchange rate changes on cash 3.4 7.2 (12.7)
Increase (decrease) in cash, cash equivalents and restricted cash 149.6 32.3 (506.1)
Cash, cash equivalents and restricted cash at beginning of year 545.4 513.1 1,019.2
Cash, cash equivalents and restricted cash at end of year 695.0 545.4 513.1
Supplemental information      
Interest paid 162.2 179.0 161.7
Income taxes paid $ 92.7 $ 119.8 $ 177.2