Twenty-First Century Fox 2005 Annual Report Download - page 119

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NEWS CORPORATION
Notes to the Consolidated Financial Statements (continued)
Supplemental Condensed Consolidating Statement of Operations
News America
Incorporated
News
Corporation Guarantor Non-Guarantor
Reclassifications
and Eliminations
News Corporation
and Subsidiaries
For the year ended June 30, 2005 (US$ in millions)
Revenues 4 — 659 23,196 — 23,859
Expenses 261 — 477 19,557 — 20,295
Operating (loss) income (257) — 182 3,639 — 3,564
Other (Expense) Income:
Interest expense, net (1,880) — 550 794 — (536)
Equity earnings (losses) of affiliates —— 5 350 — 355
Earnings (losses) from subsidiary entities 3,191 2,128 2,807 — (8,126) —
Other, net 319 — (162) 21 — 178
Income (loss) before income tax expense and
minority interest in subsidiaries 1,373 2,128 3,382 4,804 (8,126) 3,561
Income tax (expense) benefit (481) — (1,184) (1,681) 2,126 (1,220)
Minority interest in subsidiaries, net of tax —— (184) (29) — (213)
Net income (loss) 892 2,128 2,014 3,094 (6,000) 2,128
News America
Incorporated
News
Corporation Guarantor Non-Guarantor
Reclassifications
and Eliminations
News Corporation
and Subsidiaries
For the year ended June 30, 2004 (US$ in millions)
Revenues 4 — 642 20,156 — 20,802
Expenses 197 — 492 17,182 — 17,871
Operating (loss) income (193) — 150 2,974 — 2,931
Other (Expense) Income:
Interest expense, net (2,637) 1,539 608 (42) — (532)
Equity earnings (losses) of affiliates ——(22) 192 — 170
Earnings (losses) from subsidiary entities 3,995 (6) 3,076 1,231 (8,296) —
Other, net 44 — (180) 322 — 186
Income (loss) before income tax expense and minority
interest in subsidiaries 1,209 1,533 3,632 4,677 (8,296) 2,755
Income tax (expense) benefit (423) — (1,271) (1,637) 2,317 (1,014)
Minority interest in subsidiaries, net of tax ——(196) (12) — (208)
Net income (loss) 786 1,533 2,165 3,028 (5,979) 1,533
See notes to supplemental guarantor information
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