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SUPPLEMENTAL FINANCIAL INFORMATION | 6 Months Ended
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Jun. 30, 2026
Additional Financial Information Disclosure [Abstract] |
SUPPLEMENTAL FINANCIAL INFORMATION | SUPPLEMENTAL FINANCIAL INFORMATION Supplemental Cash Flow Information
| Successor |  | Predecessor |
| Six Months Ended June 30, |  |  | Six Months Ended June 30,
| 2026 |  |  | 2025
Cash paid for interest |  | $448 |  |  |  |  | $411 |
Cash (received) paid for income taxes |  | $(32) |  |  |  |  | $180 |
Noncash additions to operating lease assets |  | $38 |  |  |  |  | $76 |
Warner Bros. Discovery—Advance Consideration In the first quarter of 2026, under the terms of the WBD Merger Agreement, we paid a termination fee of $2.8 billion to Netflix on behalf of WBD in connection with the termination of a prior merger agreement between Netflix and WBD. The termination fee will be included in the total consideration to be allocated to WBD’s assets and liabilities as of the acquisition date, and accordingly has been included within “Advance consideration for WBD acquisition” on the Consolidated Balance Sheet as of June 30, 2026 and within Investing Activities on the Consolidated Statement of Cash Flows for the six months ended June 30, 2026. Lease Income We enter into operating leases for the use of our owned production facilities and office buildings. Lease payments received under these agreements consist of fixed payments for the rental of space and certain building operating costs, as well as variable payments based on usage of production facilities and services, and escalating costs of building operations. We recorded total lease income, including both fixed and variable amounts, of $8 million and $16 million for the three and six months ended June 30, 2026 (Successor), respectively, and $12 million and $21 million for the three and six months ended June 30, 2025 (Predecessor), respectively. FCC Licenses Impairment Charges (Predecessor) Prior to the third quarter of 2025, FCC licenses were classified as indefinite-lived intangible assets, which were tested for impairment on an annual basis and between annual tests if events occurred or circumstances changed that would more likely than not reduce the fair value below carrying value. For the second quarter of 2025, as a result of declines in industry projections, we determined that interim impairment tests were necessary for six markets in which we hold FCC licenses. The impairment tests indicated that the estimated fair values of FCC licenses in each of the six markets tested were below their respective carrying values. Accordingly, we recorded an impairment charge during the second quarter of 2025 of $157 million to write down the carrying values of these FCC licenses to their then aggregate estimated fair value.

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