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Revenue (Tables)
9 Months Ended
Sep. 30, 2025
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
Three Months Ended
September 30,
Nine Months Ended
September 30,
(in millions)2025
2024(a)
2025
2024(a)
Domestic broadband$6,433 $6,400 $19,521 $19,276 
Domestic wireless1,246 1,093 3,565 3,084 
International connectivity1,275 1,150 3,626 3,240 
Total residential connectivity8,954 8,644 26,712 25,599 
Video6,591 6,938 20,031 21,055 
Advertising
864 987 2,680 2,931 
Other
1,192 1,298 3,635 3,973 
Total Residential Connectivity & Platforms Segment
17,601 17,866 53,057 53,558 
Total Business Services Connectivity Segment2,576 2,425 7,647 7,253 
Domestic advertising1,964 3,347 5,698 7,363 
Domestic distribution2,841 3,272 8,575 8,942 
International networks
1,252 1,070 3,681 3,193 
Other532 542 1,516 1,429 
Total Media Segment
6,589 8,231 19,470 20,926 
Content licensing
2,035 1,865 6,014 5,680 
Theatrical639 611 1,209 1,178 
Other326 350 1,035 964 
Total Studios Segment
3,000 2,826 8,258 7,822 
Total Theme Parks Segment2,717 2,289 6,943 6,243 
Other revenue
752 686 2,221 2,181 
Eliminations(b)
(2,036)(2,253)(6,198)(6,167)
Total revenue$31,198 $32,070 $91,397 $91,817 
(a)Beginning in the first quarter of 2025, commission revenue from the sale of certain direct to consumer (“DTC”) streaming services and revenue related to certain equipment are presented in video revenue. Previously, these amounts were presented in domestic broadband and international connectivity. Prior periods have been reclassified to reflect the current year presentation.
(b)See Note 2 for additional information on 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,
2025
December 31,
2024
Receivables, gross$14,030 $14,399 
Less: Allowance for credit losses817 738 
Receivables, net$13,214 $13,661 
Noncurrent receivables, net (included in other noncurrent assets, net)$1,810 $1,853 
Noncurrent deferred revenue (included in other noncurrent liabilities)$724 $665 
Schedule of Other Balance Sheet Accounts
Our accounts receivables include amounts not yet billed related to equipment installment plans, as summarized in the table below.
(in millions)September 30,
2025
December 31,
2024
Receivables, net$1,955 $1,827 
Noncurrent receivables, net (included in other noncurrent assets, net)1,216 1,225 
Total$3,172 $3,052