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INVESTMENTS
3 Months Ended
Mar. 31, 2024
Investments [Abstract]  
INVESTMENTS INVESTMENTS
The Company’s equity investments consisted of the following, net of investments recorded in other noncurrent liabilities (in millions).
CategoryBalance Sheet LocationOwnershipMarch 31, 2024December 31, 2023
Equity method investments:
The Chernin Group (TCG) 2.0-A, LPOther noncurrent assets44%$226 $249 
nC+Other noncurrent assets32%141 142 
TNT SportsOther noncurrent assets50%101 102 
OtherOther noncurrent assets499 503 
Total equity method investments967 996 
Investments with readily determinable fair valuesOther noncurrent assets49 53 
Investments without readily determinable fair values
Other noncurrent assets(a)
428 438 
Total investments$1,444 $1,487 
(a) Investments without readily determinable fair values included $17 million as of March 31, 2024 and December 31, 2023, respectively that were included in prepaid expenses and other current assets.
Equity Method Investments
Certain of the Company’s other equity method investments are VIEs, for which the Company is not the primary beneficiary. As of March 31, 2024, the Company’s maximum exposure for all of its unconsolidated VIEs, including the investment carrying values and unfunded contractual commitments made on behalf of VIEs, was approximately $689 million. The Company’s maximum estimated exposure excludes the non-contractual future funding of VIEs. The aggregate carrying values of these VIE investments were $669 million as of March 31, 2024 and $697 million as of December 31, 2023. VIE gains and losses are recorded in loss from equity investees, net on the consolidated statements of operations, and were not material for the three months ended March 31, 2024 and 2023.