v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:    
Net income $ 97 $ 167
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 205 190
Stock-based compensation expense 18 18
Gain on disposal of an investment   (40)
Deferred income taxes (16) (12)
Payments for broadcast rights (80) (76)
Income from equity method investments, net (8) (19)
Distribution from equity method investments - return on capital 114 120
Changes in operating assets and liabilities, net of acquisitions:    
Accounts receivable (2) 45
Prepaid and other current assets (8) (18)
Other noncurrent assets 3 (11)
Accounts payable (16) (114)
Accrued expenses and other current liabilities (21) (38)
Income tax payable 54 71
Other noncurrent liabilities (13) (10)
Other 10 3
Net cash provided by operating activities 337 276
Cash flows from investing activities:    
Purchases of property and equipment (35) (44)
Payments for acquisitions, net of cash acquired (22)  
Proceeds from disposal of an investment   40
Other investing activities, net (4)  
Net cash used in investing activities (61) (4)
Cash flows from financing activities:    
Proceeds from debt issuance, net of debt discounts   55
Repayments of long-term debt (31) (85)
Purchase of treasury stock (75) (111)
Common stock dividends paid (57) (57)
Contribution from redeemable noncontrolling interests   19
Other financing activities, net (4) (3)
Net cash used in financing activities (167) (182)
Net increase in cash and cash equivalents 109 90
Cash and cash equivalents at beginning of period 144 147
Cash and cash equivalents at end of period 253 237
Supplemental information:    
Interest paid 107 121
Income taxes paid, net of refunds 2 2
Non-cash investing and financing activities:    
Accrued and noncash purchases of property and equipment 12 15
Right-of-use assets obtained in exchange for operating lease obligations $ 10 $ 22