| Schedule of Disaggregation of Revenue |
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
September 30, | | Nine Months Ended
September 30, | | (in millions) | 2026 | | 2025(a) | | 2026 | | 2025(a) | | Domestic broadband | $ | 6,241 | | | $ | 6,550 | | | $ | 18,859 | | | $ | 19,878 | | | Domestic wireless service | 1,050 | | | 915 | | | 3,035 | | | 2,647 | | | Domestic wireless equipment | 475 | | | 331 | | | 1,296 | | | 917 | | | International connectivity | 1,314 | | | 1,275 | | | 3,800 | | | 3,626 | | | Video | 5,910 | | | 6,475 | | | 18,257 | | | 19,681 | | | Advertising | 918 | | | 893 | | | 2,831 | | | 2,743 | | | Other | 1,109 | | | 1,197 | | | 3,386 | | | 3,649 | | | Total Residential Connectivity & Platforms Segment | 17,018 | | | 17,636 | | | 51,464 | | | 53,140 | | | | | | | | | | | Total Business Services Connectivity Segment | 2,645 | | | 2,576 | | | 7,956 | | | 7,647 | | | | | | | | | | | Domestic advertising | 1,783 | | | 1,556 | | | 7,399 | | | 4,418 | | | Domestic distribution | 2,069 | | | 1,690 | | | 6,345 | | | 4,990 | | | International networks | 1,270 | | | 1,239 | | | 3,892 | | | 3,642 | | | Other | 236 | | | 259 | | | 693 | | | 764 | | | Total Media Segment | 5,359 | | | 4,744 | | | 18,330 | | | 13,813 | | | | | | | | | | | Content licensing | 1,553 | | | 2,035 | | | 6,326 | | | 6,014 | | | Theatrical | 1,129 | | | 639 | | | 2,217 | | | 1,209 | | | Other | 285 | | | 326 | | | 890 | | | 1,035 | | | Total Studios Segment | 2,967 | | | 3,000 | | | 9,433 | | | 8,258 | | | | | | | | | | | Total Theme Parks Segment | 2,597 | | | 2,717 | | | 7,341 | | | 6,943 | | | | | | | | | | Versant revenue(b) | — | | | 1,731 | | | — | | | 5,270 | | Other revenue(c) | 355 | | | 898 | | | 2,146 | | | 2,700 | | Eliminations(c) | (1,642) | | | (2,104) | | | (5,975) | | | (6,374) | | | Total revenue | $ | 29,298 | | | $ | 31,198 | | | $ | 90,695 | | | $ | 91,397 | |
(a) Beginning in the first quarter of 2026, commission revenue from the sale of certain direct to consumer (“DTC”) streaming services is presented in broadband revenue or video revenue based on whether a customer is entitled to receive the DTC streaming service through a broadband or video service offering. Broadband revenue also includes revenue from streaming devices available to our broadband customers. Previously, all of these amounts were in video revenue. Prior periods have been reclassified to reflect the current year presentation.(b) Includes the historical revenue of the Versant business, primarily domestic distribution revenue, domestic advertising revenue and other revenue generated from digital properties. (c) See Note 2 for additional information on other revenue and intersegment revenue transactions.
|
| Schedule of Receivables, Net |
Condensed Consolidated Balance Sheets The table below summarizes our accounts receivable and other balances that are not separately presented in our condensed consolidated balance sheets that relate to the recognition of revenue and collection of the related cash. | | | | | | | | | | | | | (in millions) | September 30,
2026 | | December 31,
2025 | | Receivables, gross | $ | 14,219 | | | $ | 14,582 | | | Less: Allowance for credit losses | 677 | | | 713 | | | Receivables, net | $ | 13,542 | | | $ | 13,869 | | | Noncurrent receivables, net (included in other noncurrent assets, net) | $ | 2,367 | | | $ | 1,924 | | | Noncurrent deferred revenue (included in other noncurrent liabilities) | $ | 685 | | | $ | 621 | | | | | | | | | | | | | | | | | |
|
| Schedule of Other Balance Sheet Accounts |
Our receivables include amounts not yet billed related to equipment installment plans, as summarized in the table below. | | | | | | | | | | | | | (in millions) | September 30,
2026 | | December 31,
2025 | | Receivables, net | $ | 1,975 | | | $ | 2,096 | | | Noncurrent receivables, net (included in other noncurrent assets, net) | 1,640 | | | 1,395 | | | | | | | Total | $ | 3,615 | | | $ | 3,491 | |
|