v3.26.1
CONDENSED CONSOLIDATED AND COMBINED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Current Assets:    
Cash and cash equivalents $ 1,478 $ 55
Restricted cash 0 1,034
Receivables, net 1,326 1,151
Assets held for sale 0 196
Other current assets 133 66
Total current assets 2,937 2,502
Content costs 587 539
Investments 248 214
Property and equipment, net of accumulated depreciation of $632 million and $615 million 441 423
Intangible assets, net of accumulated amortization of $9,163 million and $8,848 million 499 924
Goodwill 7,804 7,611
Other noncurrent assets, net 224 120
Total assets 12,740 12,333
Current Liabilities:    
Accounts payable 268 151
Deferred revenue 83 163
Accrued content obligations 245 105
Accrued employee costs 100 62
Current portion of long-term debt 113 0
Accrued expenses and other current liabilities 425 141
Total current liabilities 1,234 622
Deferred income taxes 110 191
Noncurrent content obligations 68 72
Long-term debt 2,841 983
Other noncurrent liabilities 263 63
Commitments and contingencies
Equity:    
Preferred stock, no par value — authorized 20 million shares; none issued as of June 30, 2026 0 0
Additional paid-in capital 7,723 0
Retained earnings 388 0
Net Comcast investment 0 10,299
Accumulated other comprehensive income (loss) 1 (7)
Total equity attributable to Versant 8,114 10,292
Noncontrolling interests 111 110
Total equity 8,224 10,402
Total liabilities and equity 12,740 12,333
Class A Common Stock    
Equity:    
Common stock 1 0
Class B Common Stock    
Equity:    
Common stock $ 0 $ 0