v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income (loss) $ 21 $ (154)
Adjustments to reconcile net income (loss) to net cash flows from operating activities:    
Amortization of definite-lived intangible and other assets 39 36
Depreciation of property and equipment 26 26
Amortization of program costs 18 19
Stock-based compensation 21 22
Deferred tax benefit (156) (138)
Loss on asset dispositions and other, net 7 8
Loss from equity method investments 1 6
Loss from investments 85 73
Distributions from investments 1 2
Gain on extinguishment of debt 0 (2)
Debt issuance costs 0 68
Change in assets and liabilities, net of acquisitions:    
Decrease (increase) in accounts receivable 55 (33)
Increase in prepaid expenses and other current assets (39) (29)
(Decrease) increase in accounts payable and accrued and other current liabilities (12) 24
Net change in net income taxes payable/receivable (1) 92
Decrease in program contracts payable (19) (19)
Other, net (4) 4
Net cash flows from operating activities 43 5
CASH FLOWS USED IN INVESTING ACTIVITIES:    
Acquisition of property and equipment (15) (16)
Acquisition of businesses, net of cash acquired (15) (25)
Purchases of investments (8) (8)
Distributions and proceeds from investments 11 7
Other, net 3 0
Net cash flows used in investing activities (24) (42)
CASH FLOWS USED IN FINANCING ACTIVITIES:    
Proceeds from notes payable and commercial bank financing 0 1,430
Repayments of notes payable, commercial bank financing, and finance leases (9) (1,331)
Dividends paid on Class A and Class B Common Stock (18) (17)
Debt issuance costs 0 (99)
Distributions to noncontrolling interests (3) (3)
Other, net (11) (9)
Net cash flows used in financing activities (41) (29)
NET DECREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH (22) (66)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, beginning of period 866 697
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH, end of period $ 844 $ 631