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Additional Financial Information | 6 Months Ended
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Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Additional Financial Information | ADDITIONAL FINANCIAL INFORMATION Other, net The following table sets forth the components of Other, net included in the Statements of Operations:
| For the three months ended December 31, |  | For the six months ended December 31, |  |
| 2021 |  | 2020 |  | 2021 |  | 2020 |  |  |  |
| (in millions)
Net (losses) gains on investments in equity securities(a) | $ | (165) |  |  | $ | 220 |  |  | $ | (102) |  |  | $ | 341 |  |  |  |  |
U.K Newspaper Matters Indemnity(b) | (32) |  |  | (15) |  |  | (49) |  |  | (28) |  |  |  |  |
Transaction Costs(c) | (11) |  |  | (18) |  |  | (24) |  |  | 433 |  |  |  |  |
Other | (3) |  |  | (15) |  |  | 33 |  |  | (55) |  |  |  |  |
Total other, net | $ | (211) |  |  | $ | 172 |  |  | $ | (142) |  |  | $ | 691 |  |  |  |  |
(a) | Net (losses) gains on investments in equity securities for the three and six months ended December 31, 2021 and 2020 included the (losses) gains related to the change in fair value of the Company’s investment in Flutter (See Note 4—Fair Value).
(b) | See Note 8—Commitments and Contingencies under the heading “U.K. Newspaper Matters Indemnity.” |
(c) | The transaction costs for the six months ended December 31, 2020 are primarily related to the reimbursement from Disney of $462 million related to the substantial settlement of the Company’s prepayment of its share of the Divestiture Tax (as defined in Note 1—Description of Business and Basis of Presentation in the 2021 Form 10-K). |
Other Non-Current Assets The following table sets forth the components of Other non-current assets included in the Balance Sheets:
| As of December 31, 2021 |  | As of June 30, 2021
| (in millions)
Investments(a) | $ | 831 |  |  | $ | 899 |
Operating lease ROU assets | 476 |  |  | 469 |
Inventories, net | 462 |  |  | 199 |
Grantor Trust | 300 |  |  | 304 |
Other | 207 |  |  | 187 |
Total other non-current assets | $ | 2,276 |  |  | $ | 2,058 |
(a) | Included investments accounted for at fair value on a recurring basis of $689 million and $788 million as of December 31, 2021 and June 30, 2021, respectively (See Note 4—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 December 31, 2021 |  | As of June 30, 2021
| (in millions)
Accrued expenses | $ | 850 |  |  | $ | 1,077 |
Program rights payable | 771 |  |  | 659 |
Deferred revenue | 163 |  |  | 196 |
Operating lease liabilities | 105 |  |  | 92 |
Other current liabilities | 231 |  |  | 229 |
Total accounts payable, accrued expenses and other current liabilities | $ | 2,120 |  |  | $ | 2,253 |
Other Liabilities The following table sets forth the components of Other liabilities included in the Balance Sheets:
| As of December 31, 2021 |  | As of June 30, 2021
| (in millions)
Accrued non-current pension/postretirement liabilities | $ | 560 |  |  | $ | 586 |
Non-current operating lease liabilities | 406 |  |  | 409 |
Other non-current liabilities | 376 |  |  | 341 |
Total other liabilities | $ | 1,342 |  |  | $ | 1,336 |
Supplemental Information
| For the six months ended December 31,
| 2021 |  | 2020
| (in millions)
Supplemental cash flows information |  |  |
Cash paid for interest | $ | (200) |  |  | $ | (206) |
Cash paid for income taxes | $ | (155) |  |  | $ | (92) |
Supplemental information on acquisitions |  |  |
Fair value of assets acquired, excluding cash | $ | 335 |  |  | $ | — |
Cash acquired | 10 |  |  | — |
Liabilities assumed | (48) |  |  | — |
Redeemable noncontrolling interests issued | (5) |  |  | — |
Cash paid | (239) |  |  | — |
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 | $ | — |  |  | $ | — |

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