Twenty-First Century Fox 2006 Annual Report Download - page 121
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News Corporation
Notes totheConsolidated Financial Statements (CONTINUED)
The following condensed consolidating financial statements present the results of operations, financial position and
cash flows of NAI, News Corporation, the wholly-ownedandnon-wholly-owned guarantor subsidiaries of News Corpo-
ration, the wholly-owned and non-wholly-owned non-guarantor subsidiaries of News Corporation andtheeliminations
and reclassifications necessary to arrive at the information for the Company on aconsolidated basis.
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, 2006 (US$ in millions)
Revenues $7$—$638$24,682 $—$25,327
Expenses 240 —431 20,788 —21,459
Operating (loss) income (233) —2073,894 —3,868
Other (Expense) Income:
Interest expense, net (1,504) (145) 414 690 — (545)
Equity earnings of affiliates 1—27860 —888
Earnings (losses) from subsidiary entities 1,645 2,560 2,861 —(7,066) —
Other, net 20 (99) 235 38 —194
Income (loss) before income tax expense and
minority interest in subsidiaries (71) 2,316 3,744 5,482 (7,066) 4,405
Income tax benefit (expense) 24 — (1,273) (1,864) 1,587 (1,526)
Minority interest in subsidiaries, net of tax ——— (67) — (67)
Income (loss) from continuing operations (47) 2,316 2,471 3,551 (5,479) 2,812
Gain on disposal of discontinued operations — —— 515 —515
Income (loss) before cumulative effect of accounting
change (47) 2,316 2,471 4,066 (5,479) 3,327
Cumulative effect of accounting change, net of tax ———(1,013) — (1,013)
Net (loss) income $ (47) $2,316 $2,471 $3,053 $(5,479) $2,314
See notes to supplemental guarantor information
ANNUAL REPORT 121