v3.24.0.1
Additional Financial Information
 6 Months Ended
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Additional Financial Information ADDITIONAL FINANCIAL INFORMATION
Interest Expense, net
The following table sets forth the components of Interest expense, net included in the Statements of Operations:
For the three months ended December 31,
For the six months ended December 31,
2023202220232022
(in millions)
Interest expense$(119)$(89)$(210)$(176)
Interest income47 29 96 48 
Total interest expense, net$(72)$(60)$(114)$(128)
Other, net
The following table sets forth the components of Other, net included in the Statements of Operations:
For the three months ended December 31,
For the six months ended December 31,
2023202220232022
(in millions)
Net (losses) gains on investments in equity securities(a)
$(22)$114 $(193)$135 
U.K. Newspaper Matters Indemnity(b)
(7)(21)(12)(82)
Other(17)(20)(7)(56)
Total other, net$(46)$73 $(212)$(3)
(a)
Net (losses) gains on investments in equity securities includes the (losses) gains related to the change in fair value of the Company’s investment in Flutter (See Note 4—Fair Value), and for the three and six months ended December 31, 2023, the losses related to the Company’s investment in a live streaming mobile platform. As a result of an additional round of financing at a lower valuation, a write-down was recognized for this investment which is accounted for using the measurement alternative method.
(b)
See Note 8—Commitments and Contingencies under the headings “U.K. Newspaper Matters Indemnity.” The decrease for the six months ended December 31, 2023, as compared to the corresponding period of fiscal 2023, was attributable to an increase in the number of civil claims submitted in fiscal 2023 in advance of the September 30, 2022 cutoff date set by the judge for this phase of the litigation.
Other Non-Current Assets
The following table sets forth the components of Other non-current assets included in the Balance Sheets:
 
As of
December 31,
2023
As of
June 30,
2023
 (in millions)
Operating lease assets$914 $947 
Investments(a)
838 1,034 
Inventories, net729 642 
Grantor Trust247 276 
Other256 269 
Total other non-current assets$2,984 $3,168 
(a)
Includes investments accounted for at fair value on a recurring basis of $785 million and $884 million as of December 31, 2023 and June 30, 2023, respectively (See Note 4—Fair Value).
Accounts Payable, Accrued Expenses and Other Current Liabilities
The following table sets forth the components of Accounts payable, accrued expenses and other current liabilities included in the Balance Sheets:
As of
December 31,
2023
As of
June 30,
2023
(in millions)
Programming payable$984 $785 
Accrued expenses925 1,028 
Deferred revenue167 160 
Operating lease liabilities69 72 
Other current liabilities312 469 
Total accounts payable, accrued expenses and other current liabilities$2,457 $2,514 
Other Liabilities
The following table sets forth the components of Other liabilities included in the Balance Sheets:
As of
December 31,
2023
As of
June 30,
2023
(in millions)
Non-current operating lease liabilities$896 $925 
Accrued non-current pension/postretirement liabilities293 361 
Other non-current liabilities187 198 
Total other liabilities$1,376 $1,484 
Future Performance Obligations
As of December 31, 2023, approximately $5.8 billion of revenues are expected to be recognized primarily over the next one to three years. The Company’s most significant remaining performance obligations relate to affiliate contracts, sports advertising contracts and content licensing contracts with fixed fees. The amount disclosed does not include (i) revenues related to performance obligations that are part of a contract whose original expected duration is one year or less, (ii) revenues that are in the form of sales- or usage-based royalties and (iii) revenues related to performance obligations for which the Company elects to recognize revenue in the amount it has a right to invoice.
Supplemental Information
For the six months ended December 31,
 20232022
 (in millions)
Supplemental cash flows information
Cash paid for interest$(187)$(174)
Cash paid for income taxes$(91)$(179)