XML 55 R37.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Fair Value (Tables) | 12 Months Ended
--- | ---
Jun. 30, 2024
Fair Value Disclosures [Abstract] |
Schedule of Fair Value of Financial Assets (Liabilities) and the Level Used to Measure Them | The following tables present information about financial assets and redeemable noncontrolling interests carried at fair value on a recurring basis:
| Fair value measurements |
| As of June 30, 2024 |
| Total |  | Level 1 |  | Level 2 |  | Level 3 |
| (in millions) |
Investments in equity securities | $ | 797 |  |  | $ | 797 |  | (a) | $ | — |  |  | $ | — |  |
Redeemable noncontrolling interests | (242) |  |  | — |  |  | — |  |  | (242) |  | (b)
Total | $ | 555 |  |  | $ | 797 |  |  | $ | — |  |  | $ | (242) |  |
| Fair value measurements |
| As of June 30, 2023 |
| Total |  | Level 1 |  | Level 2 |  | Level 3 |
| (in millions) |
Investments in equity securities | $ | 884 |  |  | $ | 884 |  | (a) | $ | — |  |  | $ | — |  |
Redeemable noncontrolling interests | (213) |  |  | — |  |  | — |  |  | (213) |  | (b)
Total | $ | 671 |  |  | $ | 884 |  |  | $ | — |  |  | $ | (213) |  |
(a) | The investment categorized as Level 1 primarily represents an investment in equity securities of Flutter Entertainment plc (“Flutter”) with a readily determinable fair value.
(b) | The Company utilizes both the market and income approach valuation techniques for its Level 3 fair value measures. Inputs to such measures could include observable market data obtained from independent sources such as broker quotes and recent market transactions for similar assets. It is the Company’s policy to maximize the use of observable inputs in the measurement of its Level 3 fair value measurements. To the extent observable inputs are not available, the Company utilizes unobservable inputs based upon the assumptions market participants would use in valuing the redeemable noncontrolling interests. Examples of utilized unobservable inputs are future cash flows and long-term growth rates.
Schedule of Changes in Fair Value of Financial Liabilities on a Recurring Basis Using Level 3 | The changes in redeemable noncontrolling interests classified as Level 3 measurements were as follows:
| For the years ended June 30,
| 2024 |  | 2023 |  | 2022
| (in millions)
Beginning of year | $ | (213) |  |  | $ | (188) |  |  | $ | (261) |
Acquisitions(a) | — |  |  | — |  |  | (58) |
Net loss | 1 |  |  | 16 |  |  | 12 |
Distributions | — |  |  | — |  |  | 3 |
Accretion and other(b) | (30) |  |  | (41) |  |  | 116 |
End of year | $ | (242) |  |  | $ | (213) |  |  | $ | (188) |
(a) | The amount issued in fiscal 2022 was primarily due to the acquisition of an entertainment production company.
(b) | As a result of the expiration of the sports network minority shareholder’s final put right during fiscal 2022, approximately $110 million was reclassified into equity.
Schedule of Fair Value and Carrying Value of Borrowings |
| As of June 30,
| 2024 |  | 2023
| (in millions)
Borrowings |  |  |
Fair value | $ | 7,017 |  |  | $ | 6,895 |
Carrying value | $ | 7,197 |  |  | $ | 7,210 |

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration