v3.25.2
Additional Financial Information
 12 Months Ended
Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Additional Financial Information ADDITIONAL FINANCIAL INFORMATION
Interest Expense, net
The following table sets forth the components of Interest expense, net included in the Statements of Operations:
For the years ended June 30,
202520242023
(in millions)
Interest expense$(403)$(405)$(349)
Interest income176 189 131 
Total interest expense, net$(227)$(216)$(218)
Non-Operating Other, net
The following table sets forth the components of Non-operating other, net included in the Statements of Operations:
For the years ended June 30,
202520242023
(in millions)
Net gains (losses) on investments in equity securities(a)
$449 $(189)$403 
Gain on sale of assets(b)
— 166 — 
Other(11)(24)(35)
Total non-operating other, net$438 $(47)$368 
(a)
Net gains (losses) on investments in equity securities includes the gains (losses) related to the change in fair value of the Company’s investment in Flutter (See Note 6—Fair Value), and for the year ended June 30, 2024, the losses related to the Company’s investment in a live streaming mobile platform.
(b)
See Note 3—Acquisitions, Disposals and Other Transactions.
Other Non-Current Assets
The following table sets forth the components of Other non-current assets included in the Balance Sheets:
As of June 30,
20252024
(in millions)
Investments(a)
$1,621 $1,129 
Operating lease assets814 904 
Inventories, net742 712 
Grantor Trust assets - long-term246 247 
Other309 323 
Total other non-current assets$3,732 $3,315 
(a)
Includes investments accounted for at fair value on a recurring basis of $1.2 billion and $797 million as of June 30, 2025 and 2024, respectively (See Note 6—Fair Value).
Accounts Payable, Accrued Expenses and Other Current Liabilities
The following table sets forth the components of Accounts payable, accrued expenses and other current liabilities included in the Balance Sheets:
 
As of June 30,
 20252024
 (in millions)
Accrued expenses$1,081 $1,006 
Programming payable1,070 683 
Deferred revenue299 180 
Operating lease liabilities41 76 
Other current liabilities406 408 
Total accounts payable, accrued expenses and other current liabilities$2,897 $2,353 
Other Liabilities
The following table sets forth the components of Other liabilities included in the Balance Sheets:
 
As of June 30,
 20252024
 (in millions)
Non-current operating lease liabilities$822 $879 
Accrued non-current pension/postretirement liabilities276 276 
Other non-current liabilities243 211 
Total other liabilities$1,341 $1,366 
Future Performance Obligations
As of June 30, 2025, approximately $5.4 billion of revenues are expected to be recognized primarily over the next one to three years. The Company’s most significant remaining performance obligations relate to affiliate contracts, content licensing contracts with fixed fees and sports advertising contracts. The amount disclosed does not include (i) revenues related to performance obligations that are part of a contract whose original expected duration is one year or less, (ii) revenues that are in the form of sales- or usage-based royalties and
(iii) revenues related to performance obligations for which the Company elects to recognize revenue in the amount it has a right to invoice.
Supplemental Information
The following table summarizes supplemental information on the Statements of Cash Flows:
For the years ended June 30,
202520242023
(in millions)
Supplemental cash flow information
Cash paid for interest$(402)$(398)$(345)
Cash paid for income taxes$(515)$(232)$(245)