XML 91 R53.htm IDEA: XBRL DOCUMENT
v3.25.0.1

INCOME TAXES (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2024
Income Tax Disclosure [Abstract] |
Schedule of Domestic and Foreign Components of Loss Before Income Taxes | The domestic and foreign components of loss before income taxes were as follows (in millions).
|  | Year Ended December 31,
|  | 2024 |  | 2023 |  | 2022
Domestic |  | $ | (11,843) |  |  | $ | (4,702) |  |  | $ | (8,747) |
Foreign |  | 455 |  |  | 839 |  |  | (213) |
Loss before income taxes |  | $ | (11,388) |  |  | $ | (3,863) |  |  | $ | (8,960) |
Schedule of Components of Provision for Income Taxes | The components of the provision for income taxes were as follows (in millions).
|  | Year Ended December 31,
|  | 2024 |  | 2023 |  | 2022
Current: |  |  |  |  |  |
Federal |  | $ | 983 |  |  | $ | 753 |  |  | $ | 629 |
State and local |  | 321 |  |  | 57 |  |  | 143 |
Foreign |  | 522 |  |  | 750 |  |  | 407 |
|  | 1,826 |  |  | 1,560 |  |  | 1,179 |
Deferred: |  |  |  |  |  |
Federal |  | (1,488) |  |  | (1,845) |  |  | (2,367) |
State and local |  | (276) |  |  | (548) |  |  | (418) |
Foreign |  | 32 |  |  | 49 |  |  | (57) |
|  | (1,732) |  |  | (2,344) |  |  | (2,842) |
Income tax expense (benefit) |  | $ | 94 |  |  | $ | (784) |  |  | $ | (1,663) |
Schedule of Effective Income Tax Rate Reconciliation | The following table reconciles the Company’s effective income tax rates to the U.S. federal statutory income tax rates.
|  | Year Ended December 31,
|  | 2024 |  | 2023 |  | 2022
Pre-tax income at U.S. federal statutory income tax rate |  | $ | (2,391) |  |  | 21 | % |  | $ | (811) |  |  | 21 | % |  | $ | (1,881) |  |  | 21 | %
Non-deductible goodwill impairment |  | 1,881 |  |  | (17) | % |  | — |  |  | — | % |  | — |  |  | — | %
State and local income taxes, net of federal tax benefit |  | 30 |  |  | — | % |  | (388) |  |  | 10 | % |  | (218) |  |  | 3 | %
Effect of foreign operations |  | 331 |  |  | (3) | % |  | 342 |  |  | (9) | % |  | 246 |  |  | (3) | %
Preferred stock conversion premium charge |  | — |  |  | — | % |  | — |  |  | — | % |  | 166 |  |  | (2) | %
Change in unrecognized tax benefits |  | 153 |  |  | (1) | % |  | 33 |  |  | (1) | % |  | (6) |  |  | — | %
Other, net |  | 90 |  |  | (1) | % |  | 40 |  |  | (1) | % |  | 30 |  |  | — | %
Income tax expense (benefit) |  | $ | 94 |  |  | (1) | % |  | $ | (784) |  |  | 20 | % |  | $ | (1,663) |  |  | 19 | %
Schedule of Components of Net Deferred Tax Assets and Liabilities | Components of deferred income tax assets and liabilities were as follows (in millions).
|  | December 31,
|  | 2024 |  | 2023
Deferred income tax assets: |  |  |  |
Accounts receivable |  | $ | — |  |  | $ | (86) |
Tax attribute carry-forward |  | 2,661 |  |  | 2,908 |
Lease liabilities |  | 793 |  |  | 851 |
Accrued liabilities and other |  | 1,180 |  |  | 919 |
Total deferred income tax assets |  | 4,634 |  |  | 4,592 |
Valuation allowance |  | (2,043) |  |  | (2,191) |
Net deferred income tax assets |  | 2,591 |  |  | 2,401 |
Deferred income tax liabilities: |  |  |  |
Accounts receivable |  | (267) |  |  | — |
Intangible assets |  | (6,916) |  |  | (7,988) |
Right-of-use assets |  | (636) |  |  | (796) |
Content rights |  | (342) |  |  | (685) |
Equity method investments and other outside basis differences |  | (61) |  |  | (411) |
Other |  | (741) |  |  | (560) |
Total deferred income tax liabilities |  | (8,963) |  |  | (10,440) |
Net deferred income tax liabilities |  | $ | (6,372) |  |  | $ | (8,039) |
The Company’s net deferred income tax assets and liabilities were reported on the consolidated balance sheets as follows (in millions).
|  | December 31,
|  | 2024 |  | 2023
Noncurrent deferred income tax assets (included within other noncurrent assets) |  | $ | 613 |  |  | $ | 697 |
Deferred income tax liabilities |  | (6,985) |  |  | (8,736) |
Net deferred income tax liabilities |  | $ | (6,372) |  |  | $ | (8,039) |
Schedule of Loss Carry-Forwards | The Company’s loss carry-forwards were reported on the consolidated balance sheets as follows (in millions).
|  | Federal |  | State |  | Foreign
Loss carry-forwards |  | $ | 47 |  |  | $ | 1,350 |  |  | $ | 8,255 |
Deferred tax asset related to loss carry-forwards |  | 11 |  |  | 71 |  |  | 1,972 |
Valuation allowance against loss carry-forwards |  | (6) |  |  | (46) |  |  | (1,544) |
Earliest expiration date of loss carry-forwards |  | 2028 |  | 2025 |  | 2025
Schedule of Reconciliation of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amounts of unrecognized tax benefits (without related interest and penalty amounts) is as follows (in millions).
|  | Year Ended December 31,
|  | 2024 |  | 2023 |  | 2022
Beginning balance |  | $ | 2,147 |  |  | $ | 1,929 |  |  | $ | 420 |
Additions based on tax positions related to the current year |  | 148 |  |  | 147 |  |  | 302 |
Additions for tax positions of prior years |  | 250 |  |  | 195 |  |  | 35 |
Additions for tax positions acquired in business combinations |  | — |  |  | 247 |  |  | 1,353 |
Reductions for tax positions of prior years |  | (76) |  |  | (275) |  |  | (114) |
Settlements |  | (30) |  |  | (46) |  |  | (20) |
Reductions due to lapse of statutes of limitations |  | (51) |  |  | (62) |  |  | (34) |
Changes due to foreign currency exchange rates |  | (17) |  |  | 12 |  |  | (13) |
Ending balance |  | $ | 2,371 |  |  | $ | 2,147 |  |  | $ | 1,929 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-2 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 231 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of income before income tax between domestic and foreign jurisdictions. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(h)(1)(Note 1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1 + Details
Name: | us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in unrecognized tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 217 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482663/740-10-55-217 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A + Details
Name: | us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pertinent information, such as tax authority, amounts, and expiration dates, of net operating loss carryforwards, including an assessment of the likelihood of utilization. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482685/740-10-50-3 + Details
Name: | us-gaap_SummaryOfOperatingLossCarryforwardsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration