Twenty-First Century Fox 2005 Annual Report Download - page 88

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NEWS CORPORATION
Notes to the Consolidated Financial Statements (continued)
> Note 6 Property, Plant and Equipment
Useful
Lives 2005 2004
As of June 30, (in millions)
Land $ 273 $ 263
Buildings and leaseholds 3 to 40 years 2,321 2,205
Machinery and equipment 3 to 20 years 5,211 4,359
7,805 6,827
Less accumulated depreciation and amortization (3,459) (3,031)
Total property, plant and equipment, net $ 4,346 $ 3,796
Depreciation and amortization related to property, plant and equipment was $608 million, $539 million and $407 million for the years ended June
30, 2005, 2004, and 2003, respectively. This includes depreciation of set-top boxes at the Direct Broadcast Satellite Television segment of $100
million, $93 million and $34 million for the years ended June 30, 2005, 2004 and 2003, respectively.
Construction in progress as of June 30, 2005 and 2004, which amounted to $258 million and $63 million, respectively, was included in
Property, plant and equipment, net above.
Total operating lease expense was approximately $327 million, $342 million and $220 million for the years ended June 30, 2005, 2004 and
2003, respectively.
> Note 7 Goodwill and Other Intangible Assets
In accordance with SFAS No. 142, the Company’s intangible assets and related accumulated amortization are as follows:
Weighted
average useful lives 2005 2004
As of June 30, (in millions)
FCC licenses(a)(b) Indefinite-lived $ 8,485 $ 8,616
Distribution networks Indefinite-lived 745 743
Publishing rights & imprints Indefinite-lived 501 501
Newspaper mastheads Indefinite-lived 744 476
Other(b) Indefinite-lived 1,907 457
Intangible assets not subject to amortization 12,382 10,793
Intangible assets, net of accumulated amortization of $74 million and $35 million as of June 30, 2005 and
2004, respectively 4.3 - 10 years 135 205
Total intangibles, net $12,517 $10,998
(a) See Recently issued accounting pronouncements for discussion on Topic D-108 in Note 2 Summary of Significant Accounting Policies.
(b) See Note 3 Acquisitions and Disposals.
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