OTHER ASSETS |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
OTHER ASSETS | OTHER ASSETS: Other assets as of March 31, 2025 and December 31, 2024 consisted of the following (in millions):
Equity Method Investments We have a portfolio of investments in a number of entities that are primarily focused on the development of real estate and other media and non-media businesses. No investments were individually significant for the periods presented. Other Investments We measure our investments, excluding equity method investments, at fair value or, in situations where fair value is not readily determinable, we have the option to value investments at cost plus observable changes in value, less impairment. Additionally, certain investments are measured at net asset value (“NAV”). As of March 31, 2025 and December 31, 2024, we held $149 million and $228 million, respectively, in investments measured at fair value. As of March 31, 2025 and December 31, 2024, we held $123 million and $116 million, respectively, in investments measured at NAV. We recognized a fair value adjustment loss of $73 million for the three months ended March 31, 2025 and a fair value adjustment gain of $2 million for the three months ended March 31, 2024, associated with these investments, which are reflected in other (expense) income, net in our consolidated statements of operations. As of March 31, 2025 and December 31, 2024, our unfunded commitments related to our investments valued using the NAV practical expedient totaled $57 million and $60 million, respectively. Investments accounted for utilizing the measurement alternative were $42 million and $38 million as of March 31, 2025 and December 31, 2024, respectively. There were no adjustments to the carrying amount of investments accounted for utilizing the measurement alternative for the three months ended March 31, 2025 and 2024.
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