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Acquisition of 300 Entertainment (Tables)

6 Months Ended

Mar. 31, 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	5
Royalty advances	33
Property, plant and equipment, net	1
Operating lease right-of-use assets, net	3
Goodwill	108
Intangible assets subject to amortization, net (a)	258
Other assets	1
Accounts payable	(5)
Accrued royalties	(5)
Accrued liabilities	(1)
Operating lease liabilities, noncurrent	(3)
Total purchase price allocated	$	397

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


	Total
Recorded music catalog	$	154
Artist and songwriter contracts	89
Trademarks	12
Music publishing copyrights	3
Total intangible assets acquired	$	258