v3.23.2
Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Carrying Values of Intangible Assets and Related Accumulated Amortization
The carrying values of the Company’s intangible assets and related accumulated amortization for the fiscal years ended June 30, 2023 and June 30, 2022 were as follows:
As of June 30,
20232022
(in millions)
Intangible Assets Not Subject to Amortization
Trademarks and tradenames$267 $411 
Newspaper mastheads281 281 
Imprints225 218 
Radio broadcast licenses122 118 
Total intangible assets not subject to amortization895 1,028 
Intangible Assets Subject to Amortization
Publishing rights(a)
319 348 
Customer relationships(b)
1,110 1,233 
Other(c)
165 62 
Total intangible assets subject to amortization, net1,594 1,643 
Total Intangible assets, net$2,489 $2,671 
Certain indefinite-lived tradenames have been reclassified to finite-lived as of June 30, 2023.
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(a)Net of accumulated amortization of $341 million and $306 million as of June 30, 2023 and 2022, respectively. The useful lives of publishing rights range from 3 to 30 years primarily based on the weighted-average remaining contractual terms of the underlying publishing contracts and the Company’s estimates of the period within those terms that the asset is expected to generate a majority of its future cash flows.
(b)Net of accumulated amortization of $846 million and $759 million as of June 30, 2023 and 2022, respectively. The useful lives of customer relationships range from 3 to 25 years. The useful lives of these assets are estimated by applying historical attrition rates and determining the resulting period over which a majority of the accumulated undiscounted cash flows related to the customer relationships are expected to be generated.
(c)Net of accumulated amortization of $89 million and $85 million as of June 30, 2023 and 2022, respectively. The useful lives of other intangible assets range from 3 to 25 years. The useful lives represent the periods over which these intangible assets are expected to contribute directly or indirectly to the Company’s future cash flows.
Schedule of Changes in Carrying Value of Goodwill, by Segment
The changes in the carrying value of goodwill, by segment, are as follows:
Digital Real
Estate
Services		Subscription
Video Services		Dow JonesBook
Publishing		News MediaTotal
Goodwill
(in millions)
Balance, June 30, 2021$1,617 $978 $1,532 $413 $113 $4,653 
Acquisitions(a)
39 — 659 8 32 738 
Foreign exchange and other(95)(99)— (14)(14)(222)
Balance, June 30, 2022$1,561 $879 $2,191 $407 $131 $5,169 
Acquisitions(a)
— — 4 9 — 13 
Foreign exchange and other(19)(20)— (3)— (42)
Balance, June 30, 2023$1,542 $859 $2,195 $413 $131 $5,140 
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(a)See Note 4—Acquisitions, Disposals and Other Transactions for the primary drivers of increases in goodwill by segment.