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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Operating Activities    
Net income (loss) $ 1,139 $ (10,983)
Adjustments to reconcile net income to cash provided by operating activities:    
Content rights amortization and impairment 6,851 7,747
Depreciation and amortization 2,994 3,632
Deferred income taxes (471) (889)
Share-based compensation expense 298 260
Equity in losses of equity method investee companies and cash distributions 18 83
Gain on sale of investments (6) (203)
Gain on extinguishment of debt (2,954) (567)
Impairments and loss on dispositions 116 9,407
Other, net (97) 25
Changes in operating assets and liabilities, net of acquisitions and dispositions:    
Receivables, net (460) (191)
Film and television content rights, games, and production payables, net (6,314) (6,351)
Accounts payable, accrued liabilities, deferred revenues and other noncurrent liabilities (141) (132)
Foreign currency, prepaid expenses and other assets, net 563 (25)
Cash provided by operating activities 1,536 1,813
Investing Activities    
Purchases of property and equipment (532) (447)
Proceeds from sales of investments 54 324
Investments in and advances to equity investments (26) (68)
Proceeds from asset dispositions 66 0
Other investing activities, net 7 54
Cash used in investing activities (431) (137)
Financing Activities    
Principal repayments of debt, including premiums and discounts to par value (20,403) (3,703)
Borrowings from debt, net of discount and issuance costs 18,303 1,617
Distributions to noncontrolling interests and redeemable noncontrolling interests (174) (161)
Proceeds for noncontrolling interest in joint venture 601 0
Borrowings under commercial paper program and revolving credit facility 3,551 11,605
Repayments under commercial paper program and revolving credit facility (3,551) (11,605)
Other financing activities, net (213) (27)
Cash used in financing activities (1,886) (2,274)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash 256 (104)
Net change in cash, cash equivalents, and restricted cash (525) (702)
Cash, cash equivalents, and restricted cash, beginning of period 5,416 4,319
Cash, cash equivalents, and restricted cash, end of period $ 4,891 $ 3,617