XML 27 R8.htm IDEA: XBRL DOCUMENT v3.23.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net (loss) income $ 106 $ 2,610
Adjustments to reconcile net income to net cash flows from operating activities:    
Amortization of sports programming rights 0 326
Amortization of definite-lived intangible and other assets 82 136
Depreciation of property and equipment 56 52
Amortization of program contract costs 41 46
Stock-based compensation 36 38
Deferred tax (benefit) provision (227) 654
Loss (gain) on asset dispositions and other, net of impairment 11 (9)
Gain on deconsolidation of subsidiary 0 (3,357)
Income from equity method investments (30) (15)
Loss from investments 53 159
Distributions from investments 29 31
Sports programming rights payments 0 (325)
Rebate payments to distributors 0 (15)
Gain on extinguishment of debt (11) (3)
Change in assets and liabilities, net of acquisitions and deconsolidation of subsidiary:    
Decrease in accounts receivable 26 29
Increase in prepaid expenses and other current assets (47) (107)
Increase in accounts payable and accrued and other current liabilities 62 29
Net change in net income taxes payable/receivable (1) (21)
Decrease in program contracts payable (46) (52)
Other, net 2 1
Net cash flows from operating activities 142 207
CASH FLOWS FROM (USED IN) INVESTING ACTIVITIES:    
Acquisition of property and equipment (40) (45)
Deconsolidation of subsidiary cash 0 (315)
Purchases of investments (39) (61)
Distributions from investments 204 81
Other, net 4 11
Net cash flows from (used in) investing activities 129 (329)
CASH FLOWS USED IN FINANCING ACTIVITIES:    
Proceeds from notes payable and commercial bank financing 0 728
Repayments of notes payable, commercial bank financing, and finance leases (38) (845)
Repurchase of outstanding Class A Common Stock (153) (104)
Dividends paid on Class A and Class B Common Stock (34) (36)
Dividends paid on redeemable subsidiary preferred equity 0 (3)
Redemption of redeemable subsidiary preferred equity (190) 0
Distributions to noncontrolling interests, net (8) (5)
Other, net (4) (12)
Net cash flows used in financing activities (427) (277)
NET (DECREASE) INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (156) (399)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period 884 819
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period $ 728 $ 420