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v3.24.2

Segment Information | 6 Months Ended
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Jun. 30, 2024
Segment Reporting [Abstract] |
Segment Information | Segment Information We are a global media and technology company with five segments: Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios and Theme Parks. Our financial data by segment is presented in the tables below. We do not present asset information for our segments as this information is not used to allocate resources.
| Three Months Ended June 30, 2024
(in millions) | Residential Connectivity & Platforms | Business Services Connectivity | Media | Studios | Theme Parks | Total
Revenue from external customers | $ | 17,794 |  | $ | 2,416 |  | $ | 5,190 |  | $ | 1,657 |  | $ | 1,974 |  | $ | 29,030 |
Intersegment revenue(a) | 30 |  | 6 |  | 1,134 |  | 597 |  | 1 |  | 1,768 |
| 17,824 |  | 2,421 |  | 6,324 |  | 2,253 |  | 1,975 |  | 30,798 |
Reconciliation of Revenue |  |  |  |  |  |
Other revenue(b) |  |  |  |  |  | 715 |
Eliminations(a) |  |  |  |  |  | (1,825) |
Total consolidated revenue |  |  |  |  |  | $ | 29,688 |
Segment Adjusted EBITDA(c) | $ | 7,103 |  | $ | 1,380 |  | $ | 1,356 |  | $ | 124 |  | $ | 632 |  | $ | 10,594 |
Reconciliation of total segment Adjusted EBITDA |  |  |  |  |
Media, Studios and Theme Parks headquarters and other(d) |  |  |  |  |  | (198) |
Corporate and other(b)(c) |  |  |  |  |  | (257) |
Eliminations |  |  |  |  |  | 36 |
Depreciation |  |  |  |  |  | (2,153) |
Amortization |  |  |  |  |  | (1,387) |
Interest expense |  |  |  |  |  | (1,026) |
Investment and other income (loss), net |  |  |  |  |  | (434) |
Income before income taxes |  |  |  |  |  | $ | 5,175 |
| Three Months Ended June 30, 2023
(in millions) | Residential Connectivity & Platforms | Business Services Connectivity | Media | Studios | Theme Parks | Total
Revenue from external customers | $ | 18,025 |  | $ | 2,281 |  | $ | 5,030 |  | $ | 2,341 |  | $ | 2,209 |  | $ | 29,886 |
Intersegment revenue(a) | 43 |  | 11 |  | 1,164 |  | 747 |  | — |  | 1,965 |
| 18,068 |  | 2,292 |  | 6,195 |  | 3,087 |  | 2,209 |  | 31,851 |
Reconciliation of Revenue |  |  |  |  |  |
Other revenue(b) |  |  |  |  |  | 665 |
Eliminations(a) |  |  |  |  |  | (2,003) |
Total consolidated revenue |  |  |  |  |  | $ | 30,513 |
Segment Adjusted EBITDA(c) | $ | 7,024 |  | $ | 1,322 |  | $ | 1,244 |  | $ | 255 |  | $ | 833 |  | $ | 10,677 |
Reconciliation of total segment Adjusted EBITDA |  |  |  |  |
Media, Studios and Theme Parks headquarters and other(d) |  |  |  |  |  | (200) |
Corporate and other(b)(c) |  |  |  |  |  | (300) |
Eliminations |  |  |  |  |  | 70 |
Depreciation |  |  |  |  |  | (2,195) |
Amortization |  |  |  |  |  | (1,343) |
Interest expense |  |  |  |  |  | (998) |
Investment and other income (loss), net |  |  |  |  |  | 15 |
Income before income taxes |  |  |  |  |  | $ | 5,726 |
| Six Months Ended June 30, 2024
(in millions) | Residential Connectivity & Platforms | Business Services Connectivity | Media | Studios | Theme Parks | Total
Revenue from external customers | $ | 35,624 |  | $ | 4,817 |  | $ | 10,412 |  | $ | 3,561 |  | $ | 3,953 |  | $ | 58,368 |
Intersegment revenue(a) | 68 |  | 12 |  | 2,283 |  | 1,435 |  | 1 |  | 3,798 |
| 35,692 |  | 4,829 |  | 12,695 |  | 4,996 |  | 3,954 |  | 62,166 |
Reconciliation of Revenue |  |  |  |  |  |
Other revenue(b) |  |  |  |  |  | 1,494 |
Eliminations(a) |  |  |  |  |  | (3,914) |
Total consolidated revenue |  |  |  |  |  | $ | 59,746 |
Segment Adjusted EBITDA(c) | $ | 13,955 |  | $ | 2,746 |  | $ | 2,182 |  | $ | 367 |  | $ | 1,264 |  | $ | 20,514 |
Reconciliation of total segment Adjusted EBITDA |  |  |  |  |
Media, Studios and Theme Parks headquarters and other(d) |  |  |  |  |  | (442) |
Corporate and other(b)(c) |  |  |  |  |  | (580) |
Eliminations |  |  |  |  |  | 43 |
Depreciation |  |  |  |  |  | (4,328) |
Amortization |  |  |  |  |  | (2,762) |
Interest expense |  |  |  |  |  | (2,028) |
Investment and other income (loss), net |  |  |  |  |  | (137) |
Income before income taxes |  |  |  |  |  | $ | 10,280 |
| Six Months Ended June 30, 2023
(in millions) | Residential Connectivity & Platforms | Business Services Connectivity | Media | Studios | Theme Parks | Total
Revenue from external customers | $ | 35,842 |  | $ | 4,564 |  | $ | 10,015 |  | $ | 4,334 |  | $ | 4,158 |  | $ | 58,913 |
Intersegment revenue(a) | 96 |  | 11 |  | 2,332 |  | 1,709 |  | — |  | 4,147 |
| 35,937 |  | 4,575 |  | 12,347 |  | 6,043 |  | 4,158 |  | 63,060 |
Reconciliation of Revenue |  |  |  |  |  |
Other revenue(b) |  |  |  |  |  | 1,391 |
Eliminations(a) |  |  |  |  |  | (4,247) |
Total consolidated revenue |  |  |  |  |  | $ | 60,205 |
Segment Adjusted EBITDA(c) | $ | 13,785 |  | $ | 2,654 |  | $ | 2,124 |  | $ | 532 |  | $ | 1,490 |  | $ | 20,585 |
Reconciliation of total segment Adjusted EBITDA |  |  |  |  |
Media, Studios and Theme Parks headquarters and other(d) |  |  |  |  |  | (432) |
Corporate and other(b)(c) |  |  |  |  |  | (581) |
Eliminations |  |  |  |  |  | 98 |
Depreciation |  |  |  |  |  | (4,459) |
Amortization |  |  |  |  |  | (2,856) |
Interest expense |  |  |  |  |  | (2,007) |
Investment and other income (loss), net |  |  |  |  |  | 622 |
Income before income taxes |  |  |  |  |  | $ | 10,970 |
(a)Our most significant intersegment revenue transactions include distribution revenue in Media related to fees from Residential Connectivity & Platforms for the rights to distribute television programming, and content licensing revenue in Studios for licenses of owned content to Media. (b)Includes the operations of our Sky-branded video services and television networks in Germany; Comcast Spectacor, which owns the Philadelphia Flyers and the Wells Fargo Center arena in Philadelphia, Pennsylvania; and Xumo, our consolidated streaming platform joint venture with Charter Communications. Corporate and other also includes overhead and personnel costs for Corporate. (c)We use Adjusted EBITDA as the measure of profit or loss for our segments. From time to time we may report the impact of certain events, gains, losses or other charges related to our segments within Corporate and other. (d)Includes overhead, personnel costs and costs associated with corporate initiatives for our Media, Studios and Theme Park segments.

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- Definition The entire disclosure for reporting segments including data and tables. 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