v3.25.2
Leases
 12 Months Ended
Jun. 30, 2025
Leases [Abstract]  
Leases LEASES
Lessee Arrangements
The following amounts were recorded in the Company’s Balance Sheets relating to its operating leases and other supplemental information:
 
As of June 30,
 20252024
 (in millions)
ROU assets$814 $904 
Lease liabilities
Current lease liabilities$41 $76 
Non-current lease liabilities822 879 
Total lease liabilities$863 $955 
Other supplemental information
Weighted average remaining lease term15 years16 years
Weighted average discount rate5 %5 %
The following table presents information about the Company’s lease costs and supplemental cash flows information for leases:
 
For the years ended June 30,
 202520242023
 (in millions)
Lease costs  
Total lease costs(a)
$146 $147 $145 
Supplemental cash flows information
Operating cash flows from operating leases$125 $126 $119 
ROU assets obtained in exchange for operating lease liabilities(b)
$19 $36 $568 
(a)
Total lease costs are net of sublease income of approximately $15 million in each period.
(b)
The Company recorded an additional $540 million in operating lease assets and liabilities as of June 30, 2023, in connection with the extension of the operating lease for its corporate headquarters at 1211 Avenue of the Americas in New York through fiscal 2042.
The following table presents the lease payments relating to the Company’s operating leases:
 
As of June 30, 2025
 (in millions)
Fiscal Year 
2026$76 
202772 
2028103 
202996 
203084 
Thereafter918 
Total lease payments1,349 
Less: imputed interest(486)
Present value of operating lease liabilities$863 
Lessor Arrangements
The Company’s lessor arrangements primarily relate to its owned production and office facilities at the FOX Studio Lot, which is located in Los Angeles, California. The Company leases production and office space on the FOX Studio Lot, which will predominantly be utilized by Disney until March of 2026 for approximately $35 million annually in lease payments.
The Company recorded total lease income for fiscal 2025, 2024 and 2023 of approximately $45 million, $55 million and $55 million, respectively, which is included in Revenues in the Statements of Operations. The Company recognizes lease payments for operating leases as revenue on a straight-line basis over the lease term and variable lease payments as revenue in the period incurred.