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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM (USED IN) OPERATING ACTIVITIES:    
Net (loss) income $ (216) $ 44
Adjustments to reconcile net (loss) income to net cash flows from (used in) operating activities:    
Amortization of definite-lived intangible and other assets 71 76
Depreciation of property and equipment 50 50
Amortization of program costs 36 37
Stock-based compensation 33 37
Deferred tax (benefit) provision (141) 9
Loss on asset dispositions and other, net 17 2
Loss (income) from equity method investments 7 (92)
Loss from investments 103 20
Distributions from investments 3 2
Gain on extinguishment of debt (6) (1)
Debt issuance costs 68 0
Change in assets and liabilities, net of acquisitions:    
Decrease (increase) in accounts receivable 15 (48)
Increase in prepaid expenses and other current assets (38) (8)
Increase (decrease) in accounts payable and accrued and other current liabilities 104 (382)
Net change in net income taxes payable/receivable 49 (10)
Decrease in program contracts payable (37) (41)
Other, net 9 (5)
Net cash flows from (used in) operating activities 127 (310)
CASH FLOWS (USED IN) FROM INVESTING ACTIVITIES:    
Acquisition of property and equipment (33) (44)
Acquisition of businesses, net of cash acquired (25) 0
Purchases of investments (20) (32)
Distributions and proceeds from investments 13 184
Other, net 0 2
Net cash flows used in investing activities (65) 110
CASH FLOWS USED IN FINANCING ACTIVITIES:    
Proceeds from notes payable and commercial bank financing 1,430 0
Repayments of notes payable, commercial bank financing, and finance leases (1,414) (43)
Dividends paid on Class A and Class B Common Stock (34) (33)
Debt issuance costs (110) 0
Distributions to noncontrolling interests (6) (5)
Other, net (9) (3)
Net cash flows (used in) from financing activities (143) (84)
NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (81) (284)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period 697 662
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period $ 616 $ 378