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v3.25.3

Segment Information - Schedule of Segment Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2025 | Sep. 30, 2024 | Sep. 30, 2025 | Sep. 30, 2024
Segment Reporting Information [Line Items] |  |  |  |
Revenue | $ 31,198 | $ 32,070 | $ 91,397 | $ 91,817
Programming and production | 8,655 | 10,216 | 24,646 | 27,000
Marketing and promotion | 2,196 | 1,989 | 6,435 | 5,929
Depreciation | (2,353) | (2,219) | (6,934) | (6,548)
Amortization | (1,666) | (1,659) | (5,089) | (4,421)
Interest expense | (1,128) | (1,037) | (3,283) | (3,065)
Investment and other income (loss), net | 61 | (3) | 9,705 | (140)
Income before income taxes | 4,468 | 4,819 | 23,607 | 15,099
Operating Segments |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Revenue | 32,483 | 33,637 | 95,375 | 95,803
Adjusted EBITDA | 10,163 | 10,259 | 30,985 | 30,774
Operating Segments | External Customers |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Revenue | 30,509 | 31,434 | 89,364 | 89,802
Operating Segments | Residential Connectivity & Platforms |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Revenue | 17,601 | 17,866 | 53,057 | 53,558
Programming and production | 3,952 | 4,102 | 12,057 | 12,756
Other | 7,095 | 6,860 | 20,446 | 19,943
Adjusted EBITDA | 6,554 | 6,904 | 20,554 | 20,859
Operating Segments | Residential Connectivity & Platforms | External Customers |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Revenue | 17,582 | 17,807 | 52,981 | 53,431
Operating Segments | Business Services Connectivity |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Revenue | 2,576 | 2,425 | 7,647 | 7,253
Other | 1,122 | 1,034 | 3,327 | 3,117
Adjusted EBITDA | 1,454 | 1,391 | 4,320 | 4,137
Operating Segments | Business Services Connectivity | External Customers |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Revenue | 2,570 | 2,419 | 7,629 | 7,236
Operating Segments | Media |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Revenue | 6,589 | 8,231 | 19,470 | 20,926
Programming and production | 4,297 | 5,917 | 11,860 | 13,652
Marketing and promotion | 321 | 470 | 947 | 1,071
Other | 1,140 | 1,194 | 3,344 | 3,371
Adjusted EBITDA | 832 | 650 | 3,318 | 2,832
Operating Segments | Media | External Customers |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Revenue | 5,347 | 6,926 | 15,785 | 17,338
Operating Segments | Studios |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Revenue | 3,000 | 2,826 | 8,258 | 7,822
Programming and production | 1,959 | 1,818 | 5,519 | 5,176
Marketing and promotion | 436 | 301 | 1,280 | 1,126
Other | 240 | 240 | 711 | 685
Adjusted EBITDA | 365 | 468 | 749 | 835
Operating Segments | Studios | External Customers |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Revenue | 2,294 | 1,993 | 6,027 | 5,555
Operating Segments | Theme Parks |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Revenue | 2,717 | 2,289 | 6,943 | 6,243
Other | 1,759 | 1,442 | 4,898 | 4,132
Adjusted EBITDA | 958 | 847 | 2,045 | 2,111
Operating Segments | Theme Parks | External Customers |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Revenue | 2,717 | 2,289 | 6,942 | 6,242
Intersegment Eliminations |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Revenue | 1,974 | 2,203 | 6,011 | 6,001
Intersegment Eliminations | Residential Connectivity & Platforms |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Revenue | 19 | 59 | 76 | 127
Intersegment Eliminations | Business Services Connectivity |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Revenue | 6 | 6 | 17 | 17
Intersegment Eliminations | Media |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Revenue | 1,242 | 1,305 | 3,685 | 3,588
Intersegment Eliminations | Studios |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Revenue | 706 | 833 | 2,231 | 2,268
Intersegment Eliminations | Theme Parks |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Revenue | 0 | 0 | 1 | 1
Other revenue |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Revenue | 752 | 686 | 2,221 | 2,181
Other revenue | Media, Studios and Theme Parks headquarters and other |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Adjusted EBITDA | (271) | (200) | (789) | (642)
Other revenue | Corporate and other |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Adjusted EBITDA | (388) | (300) | (1,142) | (881)
Eliminations |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Revenue | (2,036) | (2,253) | (6,198) | (6,167)
Adjusted EBITDA | 50 | $ (21) | 153 | $ 22
Segment Reconciling Items |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |
Transaction and transaction-related costs | $ 116 |  | $ 248 |

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