XML 35 R7.htm IDEA: XBRL DOCUMENT v3.25.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Operating Activities    
Net loss $ (449) $ (955)
Adjustments to reconcile net income to cash provided by operating activities:    
Content rights amortization and impairment 3,145 3,827
Depreciation and amortization 1,547 1,888
Deferred income taxes (312) (399)
Share-based compensation expense 123 101
Impairments and loss on dispositions 90 12
Other, net 17 10
Changes in operating assets and liabilities, net of acquisitions and dispositions:    
Receivables, net 288 (304)
Film and television content rights, games, and production payables, net (2,846) (2,778)
Accounts payable, accrued liabilities, deferred revenues and other noncurrent liabilities (1,026) (753)
Foreign currency, prepaid expenses and other assets, net (24) (64)
Cash provided by operating activities 553 585
Investing Activities    
Purchases of property and equipment (251) (195)
Proceeds from sales of investments 11 0
Investments in and advances to equity investments (14) (53)
Proceeds from asset dispositions 66 0
Other investing activities, net (7) 41
Cash used in investing activities (195) (207)
Financing Activities    
Principal repayments of debt, including premiums and discounts to par value (3,665) (1,047)
Borrowings from debt, net of discount and issuance costs 1,500 0
Distributions to noncontrolling interests and redeemable noncontrolling interests (157) (130)
Proceeds for noncontrolling interest in joint venture 601 0
Borrowings under commercial paper program and revolving credit facility 695 2,200
Repayments under commercial paper program and revolving credit facility (695) (2,200)
Other financing activities, net (174) (60)
Cash used in financing activities (1,895) (1,237)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 95 (74)
Net change in cash, cash equivalents, and restricted cash (1,442) (933)
Cash, cash equivalents, and restricted cash, beginning of period 5,416 4,319
Cash, cash equivalents, and restricted cash, end of period $ 3,974 $ 3,386