XML 18 R7.htm IDEA: XBRL DOCUMENT v3.25.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities    
Net income $ 241 $ 193
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 86 81
Unrealized (gains) losses and remeasurement of foreign-denominated loans and foreign currency forward exchange contracts (120) 61
Deferred income taxes 23 5
Net loss (gain) on investments (28) (3)
Net loss (gain) on divestitures 0 (17)
Non-cash interest expense 2 0
Non-cash stock-based compensation expense 13 9
Non-cash impairments 26 0
Changes in operating assets and liabilities:    
Accounts receivable, net 24 (53)
Inventories 10 24
Royalty advances (42) (89)
Other noncurrent assets 3 (81)
Accounts payable and accrued liabilities (183) (31)
Royalty payables 173 202
Accrued interest 24 11
Operating lease liabilities (2) (1)
Deferred revenue 66 (70)
Other balance sheet changes 16 52
Net cash provided by operating activities 332 293
Cash flows from investing activities    
Acquisition of music publishing rights and music catalogs (41) (59)
Capital expenditures (36) (29)
Investments and acquisitions of businesses, net of cash received (40) (17)
Proceeds from the sale of investments 36 9
Proceeds from divestitures 0 4
Net cash used in investing activities (81) (92)
Cash flows from financing activities    
Distribution to noncontrolling interest holders (7) (4)
Dividends paid (94) (89)
Payment of deferred consideration (17) 0
Taxes paid related to net share settlement of restricted stock units and common stock (2) 0
Common stock repurchased and retired (2) 0
Other financing activity (5)
Net cash used in financing activities (127) (93)
Effect of exchange rate changes on cash and equivalents (16) 5
Net increase in cash and equivalents 108 113
Cash and equivalents at beginning of period 694 641
Cash and equivalents at end of period $ 802 $ 754