v3.23.2
Additional Financial Information (Tables)
 12 Months Ended
Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Components of Other Non-Current Assets
The following table sets forth the components of Other non-current assets included in the Balance Sheets:
As of June 30,
20232022
(in millions)
Royalty advances to authors$376 $403 
Retirement benefit assets134 133 
Inventory(a)
267 268 
News America Marketing deferred consideration157 142 
Other407 438 
Total Other non-current assets$1,341 $1,384 
________________________
(a)Primarily consists of the non-current portion of programming rights.
Components of Other Current Liabilities
The following table sets forth the components of Other current liabilities:
As of June 30,
20232022
(in millions)
Royalties and commissions payable$206 $215 
Current operating lease liabilities112 139 
Allowance for sales returns154 173 
Current tax payable16 18 
Other465 430 
Total Other current liabilities$953 $975 
Components of Other, Net Included in Statements of Operations
The following table sets forth the components of Other, net included in the Statements of Operations:
For the fiscal years ended June 30,
202320222021
(in millions)
Remeasurement of equity securities$(9)$(59)$81 
Dividends received from equity security investments6 20 9 
Gain on sale of businesses(a)
— 98 18 
Gain on remeasurement of previously-held interest(b)
— 3 7 
Gain on dilution of PropertyGuru investment(c)
— 15 — 
Other4 (25)28 
Total Other, net$1 $52 $143 
________________________
(a)During the fiscal year ended June 30, 2022, REA Group acquired an 18% interest in PropertyGuru in exchange for all shares of REA Group’s entities in Malaysia and Thailand. The Company recognized a gain of $107 million on the disposition of such entities. During the fiscal year ended June 30, 2021, Move sold the assets associated with its Top Producer professional software and service product and recognized an $18 million gain on the sale.
(b)Relates to the acquisition of REA India in the fiscal year ended June 30, 2021.
(c)During the fiscal year ended June 30, 2022, PropertyGuru completed its merger with Bridgetown 2 Holdings Limited. As a result of the merger and subsequent investments made in connection with the transaction, REA Group’s ownership interest in PropertyGuru was 17.5% and a gain of $15 million was recorded resulting from its ownership dilution in the transaction.
Summary of Supplemental Cash Flow Information
The following table sets forth the Company’s gross cash paid for taxes and interest:
For the fiscal years ended June 30,
202320222021
(in millions)
Cash paid for interest
$117 $96 $55 
Cash paid for taxes
150 180 176 
Components of Accumulated Other Comprehensive Loss
The components of Accumulated other comprehensive loss were as follows:
For the fiscal years ended June 30,
202320222021
(in millions)
Accumulated other comprehensive loss, net of tax:
Cash flow hedge adjustments:
Balance, beginning of year
21 — 2 
Fiscal year activity(a)
12 21 (2)
Balance, end of year
33 21 — 
Benefit Plan Adjustments:
Balance, beginning of year
(321)(392)(394)
Fiscal year activity(b)
(7)71 2 
Balance, end of year
(328)(321)(392)
Foreign currency translation adjustments:
Balance, beginning of year
(970)(549)(939)
Fiscal year activity18 (421)390 
Balance, end of year
(952)(970)(549)
Total accumulated other comprehensive loss, net of tax:
Balance, beginning of year
(1,270)(941)(1,331)
Fiscal year activity, net of income taxes(c)
23 (329)390 
Balance, end of year
$(1,247)$(1,270)$(941)
________________________
(a)Net of income tax expense of $4 million, $7 million and nil for the fiscal years ended June 30, 2023, 2022 and 2021 respectively.
(b)Net of income tax (benefit) expense of $(2) million, $19 million and $(1) million for the fiscal years ended June 30, 2023, 2022 and 2021, respectively.
(c)Excludes $(18) million, $(97) million and $78 million relating to noncontrolling interests for the fiscal years ended June 30, 2023, 2022 and 2021, respectively.