v3.25.2
Inventories, Net
 12 Months Ended
Jun. 30, 2025
Inventory Disclosure [Abstract]  
Inventories, Net INVENTORIES, NET
The Company’s inventories were comprised of the following:
As of June 30,
20252024
(in millions)
Licensed programming, including prepaid sports rights$633 $841 
Owned programming541 497 
Total inventories, net1,174 1,338 
Less: current portion of inventories, net(432)(626)
Total non-current inventories, net$742 $712 
Owned programming
Released$308 $238 
In-process or other233 259 
Total$541 $497 
The following table presents the aggregate amortization expense related to Inventories, net included in Operating expenses in the Statements of Operations:
For the years ended June 30,
202520242023
(in millions)
Total amortization expense$6,638 $5,473 $6,036 
Based on the balance of Inventories, net as of June 30, 2025, the estimated amortization expense for each of the succeeding three fiscal years is as follows:
For the years ending June 30,
202620272028
(in millions)
Estimated amortization expense$555 $140 $88 
Inventories are evaluated for recoverability when an event or circumstance occurs that indicates that fair value may be less than unamortized costs. The Company will determine if there is an impairment by evaluating the fair value of the inventories, which are primarily supported by internal forecasts as compared to unamortized costs. The Company recognized impairments of approximately $40 million, $40 million and $10 million in fiscal 2025, 2024 and 2023, respectively, related to owned programming at the Television segment, which were recorded in Operating expenses in the Statements of Operations.