Twenty-First Century Fox 2006 Annual Report Download - page 117
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News Corporation
Notes totheConsolidated Financial Statements (CONTINUED)
2006 2005 2004
Class AClass BTotal Class AClass BTotal Class AClass BTotal
For the years ended June 30, (in millions, except per sharedata)
Allocation of income—basic:
Income from continuing operations $2,033 $779 $2,812 $1,484 $634$2,118 $1,027 $479$1,506
Gain on disposition of discontinued
operations 372 143 515 ——————
Cumulative effect of accounting
change, net of tax (732) (281) (1,013) ——————
Net income available to shareholders 1,673 641 2,314 1,484 634 2,118 1,027 479 1,506
Weighted average shares used in
income allocation 2,638 1,012 3,650 2,390 1,021 3,4112,107 983 3,090
Allocation of income—diluted:
Income from continuing operations $2,036 $775 $2,811 $1,513 $625 $2,138 $1,051 $474$1,525
Gain on disposition of discontinued
operations 373 142 515 ——————
Cumulative effect of accounting
change, net of tax (734) (279) (1,013) ——————
Net income available to shareholders 1,675 638 2,313 1,513 625 2,138 1,051 474 1,525
Weighted average shares used in
income allocation 2,659 1,012 3,671 2,473 1,021 3,494 2,178 9833,161
Weighted average shares—basic 2,198 1,012 3,210 1,992 1,021 3,013 1,756 983 2,739
Shares issuable underequity based
compensation plans 18 —1832 —32 22— 22
Convertible debt(a) —— —37—3737 —37
Weighted average shares—diluted 2,216 1,012 3,228 2,061 1,021 3,082 1,815 983 2,798
Earnings per share—basic:
Income from continuing operations $0.92 $0.77 $0.74 $0.62 $0.58 $0.49
Gain on disposition of discontinued
operations $ 0.17 $0.14 $—$—$— $ —
Cumulative effect of accounting
change, net of tax $(0.33) $ (0.28) $ —$—$— $ —
Net income $0.76 $0.63 $0.74 $0.62 $0.58 $0.49
Earnings per share—diluted:
Income from continuing operations $0.92 $0.77 $0.73 $0.61 $0.58 $0.48
Gain on disposition of discontinued
operations $ 0.17 $0.14 $—$—$— $ —
Cumulative effect of accounting
change, net of tax $(0.33) $ (0.28) $ —$—$— $ —
Net income $0.76 $0.63 $0.73 $0.61 $0.58 $0.48
(a) In February 2006, the Company redeemed 92% of the LYONs for cash at the specified redemption amountof$594.25
per LYON (see Note 9 Borrowings). The remaining LYONs which are convertible into approximately 2.8 million shares
were not included in the earnings per share computations because the effect of their inclusion would be antidilutive.
ANNUAL REPORT 117