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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities    
Net income $ 277 $ 289
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 176 164
Unrealized (gains) losses and remeasurement of foreign-denominated loans and foreign currency forward exchange contracts (40) 18
Deferred income taxes 24 16
Net loss (gain) on investments (27) (5)
Net loss (gain) on divestitures 0 (31)
Non-cash interest expense 3 2
Non-cash stock-based compensation expense 27 18
Non-cash impairments 32 50
Changes in operating assets and liabilities:    
Accounts receivable, net 34 (68)
Inventories 9 30
Royalty advances (127) (105)
Other noncurrent assets 2 (85)
Accounts payable and accrued liabilities (119) (51)
Royalty payables 83 171
Accrued interest 13 0
Operating lease liabilities (5) (3)
Deferred revenue 69 (139)
Other balance sheet changes (30) (9)
Net cash provided by operating activities 401 262
Cash flows from investing activities    
Acquisition of music publishing rights and music catalogs (120) (82)
Capital expenditures (72) (55)
Investments and acquisitions of businesses, net of cash received (46) (17)
Proceeds from the sale of investments 36 12
Proceeds from divestitures 0 17
Net cash used in investing activities (202) (125)
Cash flows from financing activities    
Partial proceeds from Senior Term Loan Facility refinancing 0 42
Partial repayment of Senior Term Loan Facility refinancing 0 (42)
Deferred financing costs paid 0 (2)
Distribution to noncontrolling interest holders (8) (5)
Dividends paid (189) (178)
Payment of deferred consideration (23) 0
Taxes paid related to net share settlement of restricted stock units and common stock (19) (5)
Common stock repurchased and retired (2) 0
Other financing activity (7) 0
Net cash used in financing activities (248) (190)
Effect of exchange rate changes on cash and equivalents (8) (1)
Net decrease in cash and equivalents (57) (54)
Cash and equivalents at beginning of period 694 641
Cash and equivalents at end of period $ 637 $ 587