v3.25.3
Additional Financial Information
 3 Months Ended
Sep. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Additional Financial Information ADDITIONAL FINANCIAL INFORMATION
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 three months ended September 30,
20252024
(in millions)
Restructuring charges$(2)$(8)
Other corporate matters
Legal settlement costs
(6)(7)
U.K. Newspaper Matters Indemnity(a)
(1)(6)
Other17 (5)
Total restructuring, impairment and other corporate matters$8 $(26)
(a)
See Note 8—Commitments and Contingencies under the heading "U.K. Newspaper Matters Indemnity."
Interest Expense, net
The following table sets forth the components of Interest expense, net included in the Statements of Operations:
For the three months ended September 30,
20252024
(in millions)
Interest expense$(100)$(102)
Interest income50 52 
Total interest expense, net$(50)$(50)
Non-Operating Other, net
The following table sets forth the components of Non-operating other, net included in the Statements of Operations:
For the three months ended September 30,
20252024
(in millions)
Net (losses) gains on investments in equity securities(a)
$(122)$236 
Other(3)(3)
Total non-operating other, net$(125)$233 
(a)
Net (losses) gains on investments in equity securities includes the (losses) gains related to the change in fair value of the Company’s investment in Flutter (See Note 4—Fair Value).
Other Non-Current Assets
The following table sets forth the components of Other non-current assets included in the Balance Sheets:
 
As of
September 30,
2025
As of
June 30,
2025
 (in millions)
Investments(a)
$1,635 $1,621 
Inventories, net853 742 
Operating lease assets801 814 
Grantor Trust assets252 246 
Other323 309 
Total other non-current assets$3,864 $3,732 
(a)
Includes investments accounted for at fair value on a recurring basis of $1.1 billion and $1.2 billion as of September 30, 2025 and June 30, 2025, respectively (See Note 4—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
September 30,
2025
As of
June 30,
2025
(in millions)
Accrued expenses$916 $1,081 
Programming payable768 1,070 
Deferred revenue378 299 
Operating lease liabilities41 41 
Other current liabilities358 406 
Total accounts payable, accrued expenses and other current liabilities$2,461 $2,897 
Other Liabilities
The following table sets forth the components of Other liabilities included in the Balance Sheets:
As of
September 30,
2025
As of
June 30,
2025
(in millions)
Non-current operating lease liabilities$808 $822 
Accrued non-current pension/postretirement liabilities278 276 
Other non-current liabilities224 243 
Total other liabilities$1,310 $1,341 
Redeemable Noncontrolling Interests
The redeemable noncontrolling interests recorded are put rights held by minority shareholders in Credible Labs Inc. (“Credible”), an entertainment production company and a digital media company. The put right held by the Credible minority interest shareholder was exercised in December 2024 and was settled during the three months ended September 30, 2025. The put right held by the entertainment production company’s minority shareholder will become exercisable in fiscal 2027. The put right held by the digital media company’s minority shareholders will become exercisable in fiscal 2030.
The changes in redeemable noncontrolling interests were as follows:
For the three months ended September 30,
20252024
(in millions)
Beginning of period$(288)$(242)
Redemption of noncontrolling interests208 — 
Net (income) loss(1)2 
Accretion and redemption value adjustments
— 38 
End of period$(81)$(202)
Future Performance Obligations
As of September 30, 2025, approximately $7.2 billion of revenues are expected to be recognized primarily over the next one to three years. The Company’s most significant remaining performance obligations relate to distribution contracts, content licensing contracts with fixed fees and sports advertising contracts. The amount disclosed does not include (i) revenues related to performance obligations that are part of a contract whose original expected duration is one year or less, (ii) revenues that are in the form of sales- or usage-based royalties and (iii) revenues related to performance obligations for which the Company elects to recognize revenue in the amount it has a right to invoice.
Supplemental Information
The following table summarizes supplemental information on the Statements of Cash Flows:
For the three months ended September 30,
 20252024
 (in millions)
Supplemental cash flow information
Cash paid for interest$(135)$(133)
Cash paid for income taxes$(71)$(21)