Dispositions and Acquisitions (Tables)

12 Months Ended

Dec. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Discontinued Operations

The following tables set forth details of net earnings from discontinued operations for the years ended December 31, 2023, 2022 and 2021, which primarily relates to Simon & Schuster.

Year Ended December 31, 2023	Simon & Schuster			Other (a)		Total
Revenues		$	958	$	—	$	958
Costs and expenses:
Operating		580		(12)		568
Selling, general and administrative		149		—		149
Restructuring charges		2		—		2
Total costs and expenses		731		(12)		719
Operating income		227		12		239
Other items, net		(9)		—		(9)
Earnings from discontinued operations		218		12		230
Benefit from (provision for) income taxes		12		(3)		9
Earnings from discontinued operations, net of tax		230		9		239
Gain on sale (net of tax of $258 million) (b)		437		—		437
Net earnings from discontinued operations, net of tax		$	667	$	9	$	676

Year Ended December 31, 2022	Simon & Schuster			Other (a)		Total
Revenues		$	1,177	$	—	$	1,177
Costs and expenses:
Operating		746		(30)		716
Selling, general and administrative		180		—		180
Restructuring charges		3		—		3
Total costs and expenses		929		(30)		899
Operating income		248		30		278
Termination fee, net of advisory fees (c)		190		—		190
Other items, net		(12)		—		(12)
Earnings from discontinued operations		426		30		456
Provision for income taxes		(70)		(7)		(77)
Net earnings from discontinued operations, net of tax		$	356	$	23	$	379

Year Ended December 31, 2021	Simon & Schuster			Other (a)		Total
Revenues		$	993	$	—	$	993
Costs and expenses:
Operating		618		(16)		602
Selling, general and administrative		158		—		158
Depreciation and amortization		3		—		3
Restructuring charges		1		—		1
Total costs and expenses		780		(16)		764
Operating income		213		16		229
Other items, net		(10)		—		(10)
Earnings from discontinued operations		203		16		219
Provision for income taxes		(46)		(11)		(57)
Net earnings from discontinued operations, net of tax		$	157	$	5	$	162

(a) Primarily relates to indemnification obligations for leases associated with the previously discontinued operations of Famous Players Inc. (“Famous Players”).

(b) The tax provision on the gain on sale differs from the amount that would be expected at the U.S. federal statutory income tax rate primarily because the goodwill was not deductible for tax purposes.

(c) In accordance with the terms of a previous agreement to sell Simon & Schuster, we received a $200 million termination payment after the U.S. Department of Justice prevailed in its suit to block the sale.

The following table presents the major classes of assets and liabilities of our discontinued operations prior to the sale of Simon & Schuster.

At December 31,	2022
Receivables, net	$	558
Other current assets	229
Goodwill	434
Property and equipment, net	53
Operating lease assets	204
Other assets	111
Total Assets	$	1,589
Royalties payable	$	161
Other current liabilities	388
Operating lease liabilities	182
Other liabilities	18
Total Liabilities	$	749