DISCONTINUED OPERATIONS

9 Months Ended

Sep. 30, 2024

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS

The following table sets forth details of net earnings from discontinued operations for the three and nine months ended September 30, 2023, which primarily reflects the results of Simon & Schuster. On October 30, 2023, we completed the sale of Simon & Schuster to affiliates of Kohlberg Kravis Roberts & Co. During the nine months ended September 30, 2024, as a result of working capital adjustments we recorded additional pretax gains on the sale totaling $19 million, of which $7 million was recorded during the third quarter.

	Three Months Ended			Nine Months Ended
	September 30, 2023			September 30, 2023
Revenues		$	307		$	857
Costs and expenses:
Operating		195			501
Selling, general and administrative		49			138
Total costs and expenses (a)		244			639
Operating income		63			218
Other items, net		(4)			(11)
Earnings from discontinued operations		59			207
Provision for income taxes (b)		(11)			(41)
Net earnings from discontinued operations, net of tax		$	48		$	166

(a) Included in total costs and expenses are amounts associated with the release of indemnification obligations for leases relating to a previously disposed business of $3 million and $9 million for the three and nine months ended September 30, 2023, respectively.

(b) The tax provision includes amounts relating to previously disposed businesses of $1 million and $2 million for the three and nine months ended September 30, 2023, respectively.