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Restructuring and Impairments (Tables)

9 Months Ended

Jun. 30, 2024

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Accrual Activity

The below table sets forth the activity for the nine months ended June 30, 2024 in the restructuring accrual associated with the Strategic Restructuring Plan included within accrued liabilities in the accompanying condensed consolidated balance sheets. Additionally, for the nine months ended June 30, 2024, the Company recognized $50 million of impairment losses on unamortized intangible assets and other assets of which $47 million was recognized in our Recorded Music segment and $3 million was recognized in Corporate. Impairment charges recognized primarily relate to the winding down of the Company’s O&O Media Properties.

			Severance Costs
			(in millions)
Balance at September 30, 2023			$	—
Restructuring charges			47
Cash payments			(9)
Balance at June 30, 2024			$	38

The following table sets forth the activity for the nine months ended June 30, 2024 in the restructuring accrual associated with the 2023 Restructuring Plan included within accrued liabilities in the accompanying condensed consolidated balance sheets:

			Severance Costs
			(in millions)
Balance at September 30, 2023			$	19
Restructuring charges			(1)
Cash payments			(15)
Balance at June 30, 2024			$	3

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- References

No definition available.

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- Definition

Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 5.P.3)
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-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
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-Publisher FASB
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