v3.26.1
REPORTABLE SEGMENTS - Schedule of Reconciliation of Segment Adjusted EBITDA to Loss Before Income Taxes (Details) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Segment Reporting [Line Items]        
Segment Adjusted EBITDA $ 2,054 $ 2,668 $ 4,901 $ 5,059
Depreciation and amortization 1,159 1,447 2,385 2,994
Employee share-based compensation 187 173 337 293
Restructuring and other charges 113 80 317 134
Netflix Termination Fee (See Note 1) 0 0 2,800 0
Transaction and integration costs 72 17 245 97
Facility consolidation costs 0 4 0 9
Impairment and amortization of fair value step-up for content 77 388 179 628
Amortization of capitalized interest for content 11 3 14 9
Impairments and loss on dispositions 23 26 37 116
Other income, net (50) (139) (12) (221)
(Income) loss from equity investees, net (28) (5) (23) 2
Loss (gain) on extinguishment of debt, net 75 (2,958) 102 (2,954)
Interest expense, net 511 463 1,092 931
(Loss) income before income taxes (271) 2,454 (3,391) 2,020
Operating Segments | Streaming        
Segment Reporting [Line Items]        
Segment Adjusted EBITDA 512 293 950 632
Restructuring and other charges 18 7 44 19
Operating Segments | Studios        
Segment Reporting [Line Items]        
Segment Adjusted EBITDA 96 863 871 1,122
Restructuring and other charges 14 (1) 23 (6)
Operating Segments | Global Linear Networks        
Segment Reporting [Line Items]        
Segment Adjusted EBITDA 1,446 1,512 3,080 3,305
Restructuring and other charges 33 25 75 41
Corporate        
Segment Reporting [Line Items]        
Segment Adjusted EBITDA 298 316 567 549
Inter-segment eliminations        
Segment Reporting [Line Items]        
Segment Adjusted EBITDA $ (123) $ 399 $ 252 $ 452