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Additional Financial Information | 12 Months Ended
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Jun. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Additional Financial Information | ADDITIONAL FINANCIAL INFORMATION Interest expense, net The following table sets forth the components of Interest expense, net included in the Statements of Operations:
| For the years ended June 30,
| 2022 |  | 2021 |  | 2020
| (in millions)
Interest expense | $ | (377) |  |  | $ | (395) |  |  | $ | (369) |
Interest income | 6 |  |  | 4 |  |  | 35 |
Interest expense, net | $ | (371) |  |  | $ | (391) |  |  | $ | (334) |
Other, net The following table sets forth the components of Other, net included in the Statements of Operations:
| For the years ended June 30,
| 2022 |  | 2021 |  | 2020
| (in millions)
Net (losses) gains on investments in equity securities(a) | $ | (386) |  |  | $ | 258 |  |  | $ | 14 |
U.K. Newspaper Matters Indemnity(b) | (81) |  |  | (64) |  |  | (90) |
Transaction costs(c) | (69) |  |  | 421 |  |  | (125) |
Other | 27 |  |  | (36) |  |  | (47) |
Total other, net | $ | (509) |  |  | $ | 579 |  |  | $ | (248) |
(a) | Net (losses) gains on investments in equity securities for fiscal 2022 and 2021 included the (losses) gains related to the changes in fair value of the Company's investment in Flutter (See Note 6—Fair Value). Net (losses) gains on investments in equity securities for fiscal 2020 included the loss related to the change in fair value of the Company's investment in Roku, which was sold in March 2020 (See Note 3—Acquisitions, Disposals and Other Transactions under the heading "Roku").
(b) | See Note 14—Commitments and Contingencies under the heading "U.K. Newspaper Matters Indemnity."
(c) | The transaction costs for fiscal 2021 are primarily related to the partial settlement from Disney of $462 million related to the reimbursement of the Company's prepayment of its share of the Divestiture Tax (See Note 1—Description of Business and Basis of Presentation). The transaction costs for fiscal 2020 are primarily related to the Separation and the Distribution, which includes retention related cost, and costs associated with the profits participants litigation (See Note 14—Commitments and Contingencies under the heading "Profits Participants Litigation" to the financial statements included within the Company's Annual Report on Form 10-K for the fiscal year ended June 30, 2021 as filed with the SEC on August 10, 2021).
Other Non-Current Assets The following table sets forth the components of Other non-current assets included in the Balance Sheets:
| As of June 30,
| 2022 |  | 2021
| (in millions)
Investments(a) | $ | 578 |  |  | $ | 899 |
Inventories, net | 521 |  |  | 199 |
Operating lease ROU assets | 477 |  |  | 469 |
Grantor Trust | 270 |  |  | 304 |
Other | 225 |  |  | 187 |
Total other non-current assets | $ | 2,071 |  |  | $ | 2,058 |
(a) | Includes investments accounted for at fair value on a recurring basis of $435 million and $788 million as of June 30, 2022 and 2021, respectively (See Note 6—Fair Value).
Accounts Payable, Accrued Expenses and Other Current Liabilities The following table sets forth the components of Accounts payable, accrued expenses and other current liabilities included in the Balance Sheets:
| As of June 30,
| 2022 |  | 2021
| (in millions)
Accrued expenses | $ | 992 |  |  | $ | 1,077 |
Programming payable | 686 |  |  | 659 |
Deferred revenue | 209 |  |  | 196 |
Operating lease liabilities | 107 |  |  | 92 |
Other current liabilities | 302 |  |  | 229 |
Total accounts payable, accrued expenses and other current liabilities | $ | 2,296 |  |  | $ | 2,253 |
Other Liabilities The following table sets forth the components of Other liabilities included in the Balance Sheets:
| As of June 30,
| 2022 |  | 2021
| (in millions)
Accrued non-current pension/postretirement liabilities | $ | 447 |  |  | $ | 586 |
Non-current operating lease liabilities | 405 |  |  | 409 |
Other non-current liabilities | 268 |  |  | 341 |
Total other liabilities | $ | 1,120 |  |  | $ | 1,336 |
Future Performance Obligations As of June 30, 2022, approximately $4.5 billion of revenues are expected to be recognized primarily over the next one to three years. The Company's most significant remaining performance obligations relate to affiliate contracts, sports advertising contracts and content licensing contracts with fixed fees. The amount disclosed does not include (i) revenues related to performance obligations that are part of a contract whose original expected duration is one year or less, (ii) revenues that are in the form of sales- or usage-based royalties and (iii) revenues related to performance obligations for which the Company elects to recognize revenue in the amount it has a right to invoice. Supplemental Information
| For the years ended June 30,
| 2022 |  | 2021 |  | 2020
| (in millions)
Supplemental cash flows information |  |  |  |  |
Cash paid for interest | $ | (383) |  |  | $ | (390) |  |  | $ | (355) |
Cash paid for income taxes | $ | (209) |  |  | $ | (225) |  |  | $ | (88) |
Supplemental information on acquisitions |  |  |  |  |
Fair value of assets acquired, excluding cash | $ | 348 |  |  | $ | 49 |  |  | $ | 1,254 |
Cash acquired | 9 |  |  | — |  |  | 41 |
Liabilities assumed | (47) |  |  | 2 |  |  | (84) |
Redeemable noncontrolling interests issued | (5) |  |  | — |  |  | (109) |
Cash paid | (252) |  |  | (51) |  |  | (1,102) |
Fair value of equity instruments issued as consideration to third parties(a) | 53 |  |  | — |  |  | — |
Issuance of subsidiary common units | (53) |  |  | — |  |  | — |
Fair value of equity instruments consideration | $ | — |  |  | $ | — |  |  | $ | — |
(a) | Includes Redeemable noncontrolling interests.

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