v3.26.3
CONDENSED CONSOLIDATED AND COMBINED BALANCE SHEETS (UNAUDITED) - USD ($)
$ in Millions
Sep. 30, 2026
Dec. 31, 2025
Current Assets:    
Cash and cash equivalents $ 1,051 $ 55
Restricted cash 0 1,034
Receivables, net 1,241 1,151
Assets held for sale 0 196
Other current assets 201 66
Total current assets 2,493 2,502
Content costs 570 539
Investments 262 214
Property and equipment, net of accumulated depreciation of $656 million and $615 million 463 423
Intangible assets, net of accumulated amortization of $9,384 million and $8,848 million 482 924
Goodwill 8,127 7,611
Other noncurrent assets, net 258 120
Total assets 12,656 12,333
Current Liabilities:    
Accounts payable 224 151
Deferred revenue 97 163
Accrued content obligations 226 105
Accrued employee costs 153 62
Current portion of long-term debt 113 0
Accrued expenses and other current liabilities 383 141
Total current liabilities 1,196 622
Deferred income taxes 152 191
Noncurrent content obligations 60 72
Long-term debt 2,813 983
Other noncurrent liabilities 288 63
Commitments and contingencies
Equity:    
Preferred stock, no par value — authorized 20 million shares; none issued as of September 30, 2026 0 0
Additional paid-in capital 7,637 0
Retained earnings 382 0
Net Comcast investment 0 10,299
Accumulated other comprehensive income (loss) 16 (7)
Total equity attributable to Versant 8,037 10,292
Noncontrolling interests 110 110
Total equity 8,147 10,402
Total liabilities and equity 12,656 12,333
Class A Common Stock    
Equity:    
Common stock 1 0
Class B Common Stock    
Equity:    
Common stock $ 0 $ 0