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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 28, 2025
Dec. 29, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net (loss) earnings $ (318.2) $ 394.4 $ (1,487.8)
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation of property, plant and equipment 69.5 94.7 127.7
Loss on disposal of business 25.0 37.4 539.0
Impairment of goodwill 1,021.9 0.0 1,191.2
Impairment of intangibles and production assets 0.0 0.0 116.0
Loss on Discovery Family Channel investment 0.0 78.2 0.0
Inventory obsolescence 49.3 22.4 91.2
Amortization of intangible assets 66.0 68.3 83.0
Program cost amortization 35.8 49.3 448.9
Deferred income taxes 158.3 (20.6) (243.5)
Share-based compensation 80.4 50.8 72.4
Other non-cash items 25.5 13.0 (6.1)
Changes in operating assets and liabilities, net of acquired and disposed balances:      
Net change in accounts receivable (150.2) 77.3 15.5
Net change in inventories (25.4) 22.1 257.1
Net change in prepaid expenses and other current assets (40.7) 58.9 34.7
Program production costs (10.2) (25.3) (408.0)
Net change in accounts payable and accrued liabilities (35.1) (78.8) (109.7)
Change in net deemed repatriation tax (57.4) (45.9) (34.4)
Other (1.3) 51.2 38.4
Net cash provided by operating activities 893.2 847.4 725.6
Cash flows from investing activities:      
Additions to property, plant and equipment (63.3) (87.2) (135.5)
Additions to software development (135.0) (110.3) (73.8)
Net (settlement) proceeds from sale of business, net of cash transferred 0.0 (12.0) 329.6
Purchase of investments (105.4) (571.0) 0.0
Maturity of investments 0.0 583.0 0.0
Other 19.3 (6.2) (2.7)
Net cash (utilized) provided by investing activities (284.4) (203.7) 117.6
Cash flows from financing activities:      
Proceeds from borrowings 0.0 498.6 2.6
Repayments of borrowings (118.2) (581.3) (359.6)
Net repayments of other short-term borrowings 0.0 0.0 (41.6)
Share-based compensation transactions 9.6 7.6 0.0
Dividends paid (392.5) (389.9) (388.0)
Payments related to tax withholding for share-based compensation (23.7) (14.4) (16.8)
Payment of financing costs 0.0 (5.3) 0.0
Other (6.5) (12.8) (14.7)
Net cash utilized by financing activities (531.3) (497.5) (818.1)
Effect of exchange rate changes on cash 4.1 3.4 7.2
Net increase in cash, cash equivalents and restricted cash 81.6 149.6 32.3
Cash, cash equivalents and restricted cash, beginning of year 695.0 545.4 513.1
Cash, cash equivalents and restricted cash, end of year 776.6 695.0 545.4
Supplemental information      
Interest paid 158.4 162.2 179.0
Income taxes paid, net $ 196.8 $ 92.7 $ 119.8