LEASES

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

LEASES

LEASES

Lessee Contracts

We have operating leases primarily for office space, equipment, satellite transponders and studio facilities. We also have finance leases for equipment, which were not material for the periods presented. Lease costs are generally fixed, with certain contracts containing variable payments for non-lease costs based on usage and escalations in the lessors’ annual costs.

At December 31, 2024 and 2023, the following amounts were recorded on the Consolidated Balance Sheets relating to our operating leases.

	2024		2023
Right-of-Use Assets
Operating lease assets	$	1,012	$	1,183
Lease Liabilities
Other current liabilities	$	284	$	258
Operating lease liabilities	1,048		1,256
Total lease liabilities	$	1,332	$	1,514

	2024		2023
Weighted average remaining lease term	6 years		7 years
Weighted average discount rate	3.8	%	3.9	%

The following table presents our lease cost relating to our operating leases.

Year Ended December 31,	2024		2023		2022
Operating lease cost (a) (b)	$	301	$	332	$	373
Short-term lease cost (b) (c)	181		229		306
Variable lease cost (b) (d)	84		76		77
Sublease income	(7)		(7)		(12)
Total lease cost	$	559	$	630	$	744

(a) Includes fixed lease costs and non-lease costs (consisting of other occupancy and service costs relating to the use of an asset) associated with long-term operating leases.

(b) Includes costs capitalized in programming assets during the period for leased assets used in the production of programming.

(c) Short-term leases, which are not recorded in right-of-use assets and lease liabilities on the Consolidated Balance Sheets, have a term of 12 months or less and exclude month-to-month leases.

(d) Primarily includes non-lease costs (consisting of other occupancy and service costs relating to the use of an asset) and costs for equipment leases that vary based on usage.

The following table presents supplemental cash flow information for our operating leases.

Year Ended December 31,	2024		2023		2022
Payments for amounts included in operating lease    liabilities (operating cash flows)	$	338	$	368	$	394
Noncash additions to operating lease assets	$	130	$	123	$	170

The expected future payments relating to our operating lease liabilities at December 31, 2024 are as follows:

2025	$	333
2026	265
2027	215
2028	196
2029	152
2030 and thereafter	371
Total minimum payments	1,532
Less amounts representing interest	200
Present value of minimum payments	$	1,332

As of December 31, 2024, we had no material leases that were executed but not yet commenced.

Lessor Contracts

For each of the years ended December 31, 2024 and 2023, we recorded total lease income of $34 million and for the year ended December 31, 2022 we recorded total lease income of $65 million, which relates to operating leases of our owned production facilities and office buildings. Lease payments received under these agreements consist of fixed payments for the rental of space and certain building operating costs, as well as variable payments based on usage of production facilities and services, and escalating costs of building operations. Our future fixed lease income is not expected to be material.

LEASES

LEASES

Lessee Contracts

We have operating leases primarily for office space, equipment, satellite transponders and studio facilities. We also have finance leases for equipment, which were not material for the periods presented. Lease costs are generally fixed, with certain contracts containing variable payments for non-lease costs based on usage and escalations in the lessors’ annual costs.

At December 31, 2024 and 2023, the following amounts were recorded on the Consolidated Balance Sheets relating to our operating leases.

	2024		2023
Right-of-Use Assets
Operating lease assets	$	1,012	$	1,183
Lease Liabilities
Other current liabilities	$	284	$	258
Operating lease liabilities	1,048		1,256
Total lease liabilities	$	1,332	$	1,514

	2024		2023
Weighted average remaining lease term	6 years		7 years
Weighted average discount rate	3.8	%	3.9	%

The following table presents our lease cost relating to our operating leases.

Year Ended December 31,	2024		2023		2022
Operating lease cost (a) (b)	$	301	$	332	$	373
Short-term lease cost (b) (c)	181		229		306
Variable lease cost (b) (d)	84		76		77
Sublease income	(7)		(7)		(12)
Total lease cost	$	559	$	630	$	744

(a) Includes fixed lease costs and non-lease costs (consisting of other occupancy and service costs relating to the use of an asset) associated with long-term operating leases.

(b) Includes costs capitalized in programming assets during the period for leased assets used in the production of programming.

(c) Short-term leases, which are not recorded in right-of-use assets and lease liabilities on the Consolidated Balance Sheets, have a term of 12 months or less and exclude month-to-month leases.

(d) Primarily includes non-lease costs (consisting of other occupancy and service costs relating to the use of an asset) and costs for equipment leases that vary based on usage.

The following table presents supplemental cash flow information for our operating leases.

Year Ended December 31,	2024		2023		2022
Payments for amounts included in operating lease    liabilities (operating cash flows)	$	338	$	368	$	394
Noncash additions to operating lease assets	$	130	$	123	$	170

The expected future payments relating to our operating lease liabilities at December 31, 2024 are as follows:

2025	$	333
2026	265
2027	215
2028	196
2029	152
2030 and thereafter	371
Total minimum payments	1,532
Less amounts representing interest	200
Present value of minimum payments	$	1,332

As of December 31, 2024, we had no material leases that were executed but not yet commenced.

Lessor Contracts

For each of the years ended December 31, 2024 and 2023, we recorded total lease income of $34 million and for the year ended December 31, 2022 we recorded total lease income of $65 million, which relates to operating leases of our owned production facilities and office buildings. Lease payments received under these agreements consist of fixed payments for the rental of space and certain building operating costs, as well as variable payments based on usage of production facilities and services, and escalating costs of building operations. Our future fixed lease income is not expected to be material.