v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities:    
Net earnings (loss) (Paramount and noncontrolling interests) $ 161 $ (544)
Less: Net earnings from discontinued operations, net of tax 0 9
Net earnings (loss) from continuing operations 161 (553)
Adjustments to reconcile net earnings (loss) from continuing operations to net cash flow provided by operating activities:    
Programming charges 0 1,118
Depreciation and amortization 88 100
Deferred tax provision (benefit) 45 (231)
Stock-based compensation 44 47
Gain on dispositions (35) 0
Loss from investment 0 4
Equity in loss of investee companies, net of tax and distributions 73 90
Change in assets and liabilities (196) (315)
Net cash flow provided by operating activities 180 260
Investing Activities:    
Investments (73) (88)
Capital expenditures (57) (51)
Proceeds from dispositions 61 11
Net cash flow used for investing activities (69) (128)
Financing Activities:    
Dividends paid on preferred stock 0 (14)
Dividends paid on common stock (36) (35)
Payment of payroll taxes in lieu of issuing shares for stock-based compensation (26) (17)
Payments to noncontrolling interests (77) (94)
Other financing activities 0 (27)
Net cash flow used for financing activities (139) (187)
Effect of exchange rate changes on cash and cash equivalents 40 (21)
Net increase (decrease) in cash and cash equivalents 12 (76)
Cash and cash equivalents at beginning of year 2,661 2,460
Cash and cash equivalents at end of period $ 2,673 $ 2,384