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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

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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.

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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.

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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.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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