NOTE 4. RESTRUCTURING, IMPAIRMENT AND OTHER CORPORATE MATTERS The following table sets forth the components of Restructuring, impairment and other corporate matters included in the Statements of Operations: | | | | | | | | | | | | | | | | | | | For the years ended June 30, | | 2025 | | 2024 | | 2023 | | (in millions) | Restructuring charges(a) | $ | (35) | | | $ | (13) | | | $ | (111) | | Impairment charges(b) | (68) | | | — | | | — | | | Other corporate matters | | | | | | Legal settlement costs(c) | (126) | | | (24) | | | (894) | | U.K. Newspaper Matters Indemnity(c) | (30) | | | (20) | | | (117) | | Other(d) | (91) | | | (10) | | | (60) | | | Total restructuring, impairment and other corporate matters | $ | (350) | | | $ | (67) | | | $ | (1,182) | |
| | | | | | (a) | Primarily related to Venu Sports at Corporate and Other (See Note 3—Acquisitions, Disposals and Other Transactions) for fiscal 2025 and severance costs at the Cable Network Programming and Television reportable segments and Corporate and Other for fiscal 2024 and 2023. | (b) | Related to a non-cash impairment charge for intangible assets for fiscal 2025 (See Note 2—Summary of Significant Accounting Policies under the heading "Goodwill and Other Intangible Assets”). | (c) | See Note 14—Commitments and Contingencies. | (d) | Primarily related to Venu Sports for fiscal 2025 (See Note 3—Acquisitions, Disposals and Other Transactions). |
Restructuring Changes in the restructuring program liabilities were as follows: | | | | | | | | | | | | | | | | | | | One time termination benefits | | Contract termination costs | | Total | | (in millions) | Balance, June 30, 2022 | $ | (8) | | | $ | (19) | | | $ | (27) | | | Additions | (111) | | | — | | | (111) | | | Payments | 52 | | | 2 | | | 54 | | Balance, June 30, 2023 | $ | (67) | | | $ | (17) | | | $ | (84) | | | Additions and other | (19) | | | 6 | | | (13) | | | Payments | 69 | | | 11 | | | 80 | | Balance, June 30, 2024 | $ | (17) | | | $ | — | | | $ | (17) | | Additions(a) | (35) | | | — | | | (35) | | Payments(a) | 37 | | | — | | | 37 | | Balance, June 30, 2025 | $ | (15) | | | $ | — | | | $ | (15) | |
| | | | | | (a) | Excludes amounts collected from Disney and WBD related to the decision to discontinue Venu Sports (See Note 3—Acquisitions, Disposals and Other Transactions). |
Amounts recognized in the Balance Sheets consist of: | | | | | | | | | | | | | | | | | | | As of June 30, | | 2025 | | 2024 | | 2023 | | (in millions) | Accounts payable, accrued expenses and other current liabilities | $ | 15 | | | $ | 17 | | | $ | 74 | | Other liabilities | — | | | — | | | 10 | | | Total restructuring liabilities | $ | 15 | | | $ | 17 | | | $ | 84 | |
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