Twenty-First Century Fox 2006 Annual Report Download - page 57

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Results of Operations (CONTINUED)
Net cash provided by financing activities for the fiscal years ended June 30, 2005 and 2004 is as follows (in millions):
YearsEnded June 30, 2005 2004
Cash flows (used in) provided by financing activities:
Borrowings $1,841 $548
Repayment of borrowings (2,110) (943)
Issuances of shares 88 580
Repurchase of shares (535) —
Dividends paid (240) (202)
Cash on deposit 275 162
Net cash (used in) provided by financing activities $ (681) $ 145
Net cash used in financing activities during fiscal 2005 changed from net cash provided by financing activities in the
corresponding period of fiscal 2004 primarily due to the implementation of the stock repurchase program in fiscal 2005
and the absence of the stock offering that occurred in fiscal 2004. The borrowing repayments during fiscal 2005 included
the retirement of debt assumed in the acquisition of the Cruden Group of companies, the Eurobonds, the perpetual prefer-
ence shares and the film financing facility. (See Notes 3 and 9 to the accompanying Consolidated Financial Statements of
News Corporation for further detail.) In fiscal 2005, the Company issued $1.75 billion in Senior Notes which offset the
repayments noted above. The cash received for the issuance of shares was due to stock options exercised by employees.
Included in this amount was approximately $12 million for options issued over NDS shares.
The total dividends declared related to fiscal 2005 results were $0.12 per share of Class ACommon Stock and $0.10 per
share of Class BCommon Stock. In August 2005, the Company declared the final dividend on fiscal 2005 results of $0.07
per shareforClass ACommon Stock and $0.08 per shareforClass BCommon Stock. This together with theinterim divi-
dend of $0.05 per shareof Class ACommon Stock and a dividend of $0.02 per shareof Class BCommon Stock constitute
the total dividend relating to fiscal 2005.
Issuances of Shares
Approximate
amount of
issuance
Number of
Class A
shares
Number of
Class B
shares
(in millions)
Transaction
Fiscal 2006
Intermix Media, Inc.(a) (b) $550 35 —
Queensland Press(a) $332—
Fiscal 2005
Fox Entertainment Group(a) $14,293 1,988 —
Queensland Press(a) $6,359 61 308
Fiscal 2004
DIRECTV(c) $3,728 261 —
Liberty Media(d) $50047 —
(a) See Note 3to the Consolidated Financial Statements of News Corporation.
(b) Issued in an intercompany restructuring and considered treasury shares. Therefore, the issuance had no impact on the
Company’s outstanding shares.
(c) See Note 6to the Consolidated Financial Statements of News Corporation for information with respect to the DIRECTV
transaction.
(d) See Note 14 to the Consolidated Financial Statements of News Corporation for information with respect to the Liberty
Media transaction.
ANNUAL REPORT 57