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Acquisition of 300 Entertainment (Tables)

12 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The table below presents (i) the preliminary estimate of the acquisition consideration as it relates to the acquisition of 300 Entertainment and (ii) the preliminary allocation of the purchase price to the estimated fair values of the assets acquired and liabilities assumed on the closing date of December 16, 2021 (in millions):

			Preliminary Purchase Price Allocation
Cash and equivalents			$	2
Accounts receivable			3
Royalty advances			14
Property, plant and equipment, net			1
Operating lease right-of-use assets, net			3
Goodwill			135
Intangible assets subject to amortization, net (a)			260
Other assets			1
Accounts payable			(5)
Accrued royalties			(16)
Accrued liabilities			(1)
Operating lease liabilities, noncurrent			(3)
Total purchase price allocated			$	394

______________________________________

(a)Identifiable intangible assets are composed of the following (in millions):

			Total
Recorded music catalog			$	154
Artist and songwriter contracts			91
Trademarks			12
Music publishing copyrights			3
Total intangible assets acquired			$	260

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- References

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- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=128092470&loc=d3e4845-128472

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