$PSKY

Skydance Corp

CIK:0002041610|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenues	$ 6,913	$ 6,849	$ 14,260	$ 14,041
Costs and expenses:
Operating	4,443	4,624	9,298	9,585
Selling, general and administrative	1,443	1,401	2,854	2,944
Depreciation and amortization	364	87	726	175
Impairment charges	0	157	0	157
Restructuring and transaction-related items	188	181	291	266
Total costs and expenses	6,438	6,450	13,169	13,127
Gain from dispositions	0	0	0	35
Operating income	475	399	1,091	949
Interest expense	(255)	(214)	(493)	(431)
Interest income	29	32	67	70
Other items, net	(34)	(39)	(58)	(76)
Earnings before income taxes and equity in loss of investee companies	215	178	607	512
Provision for income taxes	(120)	(50)	(275)	(150)
Equity in loss of investee companies, net of tax	(54)	(67)	(116)	(140)
Net earnings (Parent and noncontrolling interests)	41	61	216	222
Net earnings attributable to noncontrolling interests	0	(4)	(7)	(13)
Net earnings attributable to Parent	$ 41	$ 57	$ 209	$ 209
Basic net earnings per common share attributable to Parent (in dollars per share)	$ 0.04	$ 0.08	$ 0.19	$ 0.31
Diluted net earnings per common share attributable to Parent (in dollars per share)	$ 0.04	$ 0.08	$ 0.19	$ 0.31
Weighted average number of common shares outstanding:
Basic (in shares)	1,117	675	1,113	673
Diluted (in shares)	1,120	680	1,119	679

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities:
Net earnings (Parent and noncontrolling interests)	$ 216	$ 222
Adjustments to reconcile net earnings to net cash flow provided by operating activities:
Depreciation and amortization	726	175
Impairment charges	0	157
Deferred tax provision	50	21
Stock-based compensation	161	87
Gain on dispositions	0	(35)
Equity in loss of investee companies, net of tax and distributions	118	141
Change in assets and liabilities	(767)	(429)
Net cash flow provided by operating activities	504	339
Investing Activities:
Investments	(172)	(148)
Capital expenditures	(150)	(102)
Advance consideration for WBD acquisition	(2,800)	0
Proceeds from dispositions	13	66
Other investing activities	(6)	0
Net cash flow used for investing activities	(3,115)	(184)
Financing Activities:
Borrowings under credit facility	2,700	0
Repayment of credit facility borrowings	(900)	0
Repayment of notes and debentures	(347)	0
Dividends paid on common stock	(117)	(70)
Payment of payroll taxes in lieu of issuing shares for stock-based compensation	(104)	(26)
Payments to noncontrolling interests	(189)	(65)
Other financing activities	(51)	0
Net cash flow provided by (used for) financing activities	992	(161)
Effect of exchange rate changes on cash and cash equivalents	(28)	84
Net (decrease) increase in cash and cash equivalents	(1,647)	78
Cash and cash equivalents at beginning of year	3,274	2,661
Cash and cash equivalents at end of period	$ 1,627	$ 2,739

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current Assets:
Cash and cash equivalents	$ 1,627	$ 3,274
Receivables, net	6,178	6,615
Programming and other inventory	1,655	1,461
Prepaid expenses and other current assets	1,560	1,970
Total current assets	11,020	13,320
Property and equipment, net	2,216	2,195
Programming and other inventory	15,641	15,028
Goodwill	2,034	1,600
Intangible assets, net	5,649	6,238
Operating lease assets	1,033	1,126
Deferred income tax assets, net	1,347	1,282
Advance consideration for WBD acquisition	2,800	0
Other assets	2,671	2,553
Total Assets	44,411	43,342
Current Liabilities:
Accounts payable	511	906
Accrued expenses	2,158	2,077
Participants’ share and royalties payable	2,606	2,646
Accrued programming and production costs	1,801	1,832
Deferred revenues	1,486	1,355
Debt	665	433
Other current liabilities	1,373	1,350
Total current liabilities	10,600	10,599
Long-term debt	14,491	13,225
Participants’ share and royalties payable	1,437	1,361
Pension and postretirement benefit obligations	1,169	1,185
Deferred income tax liabilities, net	68	85
Operating lease liabilities	1,046	1,150
Programming obligations	581	400
Other liabilities	2,209	2,450
Commitments and contingencies (Note 14)
Parent stockholders’ equity:
Additional paid-in capital	13,307	13,386
Accumulated deficit	(1,544)	(1,753)
Accumulated other comprehensive income	7	59
Total Parent stockholders’ equity	11,771	11,693
Noncontrolling interests	1,039	1,194
Total Equity	12,810	12,887
Total Liabilities and Equity	44,411	43,342
Class A Common Stock
Parent stockholders’ equity:
Common stock, value, issued	0	0
Class B Common Stock
Parent stockholders’ equity:
Common stock, value, issued	$ 1	$ 1