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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Activities:      
Net earnings (loss) (Paramount and noncontrolling interests) $ (576) $ 1,214 $ 4,631
Less: Net earnings from discontinued operations, net of tax 676 379 162
Net earnings (loss) from continuing operations (1,252) 835 4,469
Adjustments to reconcile net earnings (loss) from continuing operations to net cash flow provided by (used for) operating activities from continuing operations:      
Programming charges 2,371 0 0
Depreciation and amortization 418 378 390
Impairment charges 83 27 0
Amortization of content costs and participation and residuals expense 14,713 14,951 13,649
Deferred tax (benefit) provision (650) (106) 90
Stock-based compensation 177 172 192
Net gains on dispositions 0 (56) (2,343)
(Gain) loss from investments (168) 9 (47)
(Gain) loss on extinguishment of debt (29) 120 128
Equity in loss of investee companies, net of tax and distributions 363 207 96
Change in assets and liabilities      
Decrease (increase) in receivables 523 (180) 179
Increase in inventory and related program, participation, and residuals liabilities (15,518) (17,164) (16,763)
(Decrease) increase in accounts payable and other liabilities (659) 596 642
Decrease in pension and postretirement benefit obligations (69) (44) (61)
Increase in income taxes 267 272 265
Other, net (186) (159) (51)
Net cash flow provided by (used for) operating activities from continuing operations 384 (142) 835
Net cash flow provided by operating activities from discontinued operations 91 361 118
Net cash flow provided by operating activities 475 219 953 Close
Investing Activities:      
Investments (322) (254) (193)
Capital expenditures (328) (358) (354)
Acquisitions, net of cash acquired 0 0 (54)
Proceeds from dispositions 71 95 3,028
Other investing activities (3) (1) (25)
Net cash flow (used for) provided by investing activities from continuing operations (582) (518) 2,402
Net cash flow provided by (used for) investing activities from discontinued operations 1,524 (8) (7)
Net cash flow provided by (used for) investing activities 942 (526) 2,395 Close
Financing Activities:      
Proceeds from issuance of debt 45 1,138 58
Repayment of debt (1,277) (3,140) (2,230)
Dividends paid on preferred stock (58) (58) (30)
Dividends paid on common stock (389) (631) (617)
Proceeds from issuance of preferred stock 0 0 983
Proceeds from issuance of common stock 0 0 1,672
Payment of payroll taxes in lieu of issuing shares for stock-based compensation (29) (31) (110)
Proceeds from exercise of stock options 0 0 408
Payments to noncontrolling interests (93) (218) (235)
Other financing activities (40) (41) (51)
Net cash flow used for financing activities (1,841) (2,981) (152) Close
Effect of exchange rate changes on cash and cash equivalents (1) (94) (48) Close
Net (decrease) increase in cash, cash equivalents and restricted cash (425) (3,382) 3,148 Close
Cash, cash equivalents and restricted cash at beginning of year (includes $135 of restricted cash for 2021) 2,885 6,267 3,119
Cash and cash equivalents at end of year $ 2,460 $ 2,885 $ 6,267