Quarterly report [Sections 13 or 15(d)]

Condensed Consolidated Statements of Cash Flows

v3.25.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Cash flows from operating activities:        
Net earnings (loss) $ (73) $ (15) $ (2,373) $ 25
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:        
Depreciation and amortization 103 95 310 290
Impairment of goodwill and intangible assets 0 0 2,395 0
Stock-based compensation 7 3 15 22
Realized and unrealized (gains) losses on financial instruments, net 7 36 43 53
Gain on sale of assets and sale leaseback transactions 0 0 0 (1)
Deferred income tax expense (benefit)     (234) (86)
Other, net     8 11
Changes in operating assets and liabilities        
Decrease (increase) in trade and other receivables     304 411
Decrease (increase) in inventory     (105) (249)
Decrease (increase) in other current assets     51 71
(Decrease) increase in trade accounts payable     (135) (59)
(Decrease) increase in accrued and other liabilities     (249) (175)
Net cash provided (used) by operating activities     30 313
Cash flows from investing activities:        
Capital expenditures     (103) (137)
Expenditures for television distribution rights     (89) (23)
Cash proceeds from dispositions of investments     0 7
Proceeds from sale of fixed assets     0 6
Other investing activities, net     (11) (2)
Net cash provided (used) by investing activities     (203) (149)
Cash flows from financing activities:        
Borrowings of debt     1,986 1,895
Repayments of debt     (868) (2,249)
Dividends paid to noncontrolling interest     (22) (51)
Dividends paid to common shareholders     (1) (4)
Other financing activities, net     (3) (3)
Net cash provided (used) by financing activities     1,092 (412)
Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash     22 2
Net increase (decrease) in cash, cash equivalents and restricted cash     941 (246)
Cash, cash equivalents and restricted cash at beginning of period     923 1,136
Cash, cash equivalents and restricted cash at end of period 1,864 890 1,864 890
Cash and cash equivalents 1,817   1,817  
Restricted cash included in other current assets 47   47  
Total cash, cash equivalents and restricted cash in the condensed consolidated statement of cash flows $ 1,864 $ 890 $ 1,864 $ 890