v3.26.1
OTHER ASSETS
3 Months Ended
Mar. 31, 2026
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
OTHER ASSETS
2.              OTHER ASSETS:

Other assets as of March 31, 2026 and December 31, 2025 consisted of the following (in millions):

 As of March 31,
2026
As of December 31,
2025
Equity method investments$19 $21 
Other investments316 402 
Notes receivable38 31 
Income tax receivable152 150 
Post-retirement plan assets50 52 
Other76 61 
Total other assets$651 $717 

Equity Method Investments

We have a portfolio of investments in a number of entities that are primarily focused on the development of real estate and other media and non-media businesses. No investments were individually significant for the periods presented.

Other Investments

We measure our investments, excluding equity method investments, at fair value or, in situations where fair value is not readily determinable, we have the option to value investments at cost plus observable changes in value, less impairment. Additionally, certain investments are measured at net asset value (“NAV”).

As of March 31, 2026 and December 31, 2025, we held $141 million and $223 million, respectively, in investments measured at fair value. As of March 31, 2026 and December 31, 2025, we held $142 million and $150 million, respectively, in investments measured at NAV. We recognized a fair value adjustment loss of $85 million for the three months ended March 31, 2026 and a fair value adjustment loss of $73 million for the three months ended March 31, 2025, associated with these investments, which are reflected in other expense, net in our consolidated statements of operations. As of March 31, 2026 and December 31, 2025, our unfunded commitments related to our investments valued using the NAV practical expedient totaled $37 million and $42 million, respectively.

Investments accounted for utilizing the measurement alternative were $33 million and $29 million as of March 31, 2026 and December 31, 2025, respectively. There were no adjustments to the carrying amount of investments accounted for utilizing the measurement alternative for either of the three months ended March 31, 2026 and 2025.