Twenty-First Century Fox 2007 Annual Report Download - page 117
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NEWS CORPORATION
Notes to the Consolidated Financial Statements (continued)
2007 2006 2005
Class A Class B Total Class A Class B Total Class A Class B Total
For the years ended June 30, (in millions, except per share data)
Allocation of income—basic:
Income from continuing operations $2,484 $ 942 $3,426 $2,033 $ 779 $ 2,812 $1,484 $ 634 $2,118
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 2,484 942 3,426 1,673 641 2,314 1,484 634 2,118
Weighted average shares used in
income allocation 2,604 987 3,591 2,638 1,012 3,650 2,390 1,021 3,411
Allocation of income—diluted:
Income from continuing operations $2,487 $ 934 $3,421 $2,036 $ 775 $ 2,811 $1,513 $ 625 $2,138
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 2,487 934 3,421 1,675 638 2,313 1,513 625 2,138
Weighted average shares used in
income allocation 2,629 987 3,616 2,659 1,012 3,671 2,473 1,021 3,494
Weighted average shares—basic 2,170 987 3,157 2,198 1,012 3,210 1,992 1,021 3,013
Shares issuable under equity based
compensation plans 21 — 21 18 — 18 32 — 32
Convertible debt(a) ————— — 37— 37
Weighted average shares—diluted 2,191 987 3,178 2,216 1,012 3,228 2,061 1,021 3,082
Earnings per share—basic:
Income from continuing operations $ 1.14 $0.95 $ 0.92 $ 0.77 $ 0.74 $ 0.62
Gain on disposition of discontinued
operations $ — $ — $ 0.17 $ 0.14 $ — $ —
Cumulative effect of accounting
change, net of tax $ — $ — $ (0.33) $ (0.28) $ — $ —
Net income $ 1.14 $0.95 $ 0.76 $ 0.63 $ 0.74 $ 0.62
Earnings per share—diluted:
Income from continuing operations $ 1.14 $0.95 $ 0.92 $ 0.77 $ 0.73 $ 0.61
Gain on disposition of discontinued
operations $ — $ — $ 0.17 $ 0.14 $ — $ —
Cumulative effect of accounting
change, net of tax $ — $ — $ (0.33) $ (0.28) $ — $ —
Net income $ 1.14 $0.95 $ 0.76 $ 0.63 $ 0.73 $ 0.61
(a) In February 2006, the Company redeemed 92% of the LYONs for cash at the specified redemption amount of $594.25 per
LYON. The impact of the remaining LYONs which are convertible into approximately 2.8 million shares is not significant.
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