Twenty-First Century Fox 2006 Annual Report Download - page 71
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News Corporation
Consolidated Statements Of Operations
2006 2005 2004
For the years ended June 30, (in millions, except per shareamounts)
Revenues $25,327 $23,859 $20,802
Expenses:
Operating 16,593 15,901 13,942
Selling, general and administrative 3,982 3,697 3,364
Depreciation andamortization 775 648 565
Other operating charges 109 49 —
Operating income 3,868 3,564 2,931
Other income (expense):
Interest expense, net (545) (536) (532)
Equity earnings of affiliates 888 355 170
Other, net 194 178 186
Income from continuing operations before income tax expense and minority interest
in subsidiaries 4,405 3,561 2,755
Income tax expense (1,526) (1,220) (1,014)
Minority interest in subsidiaries, net of tax (67) (213) (208)
Income from continuing operations 2,812 2,128 1,533
Gain on disposition of discontinued operations, net of tax 515 ——
Income before cumulative effect of accounting change3,327 2,128 1,533
Cumulative effect of accounting change, net of tax (1,013) — —
Net income $2,314 $2,128 $1,533
Basic earnings per share:
Income from continuing operations
Class A$0.92 $0.74 $0.58
Class B$0.77 $0.62 $0.49
Net Income
Class A$0.76 $0.74 $0.58
Class B$0.63 $0.62 $0.49
Diluted earnings per share:
Income from continuing operations
Class A$0.92 $0.73 $0.58
Class B$0.77 $0.61 $0.48
Net Income
Class A$0.76 $0.73 $0.58
Class B$0.63 $0.61 $0.48
The accompanying notes are an integral part of these audited consolidated financial statements.
ANNUAL REPORT 71