Twenty-First Century Fox 2007 Annual Report Download - page 122

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NEWS CORPORATION
Notes to the Consolidated Financial Statements (continued)
Supplemental Condensed Consolidating Statement of Operations
For the year ended June 30, 2006
(US$ in millions)
News
America
Incorporated
News
Corporation Non-Guarantor
Reclassifications
and
Eliminations
News
Corporation
and
Subsidiaries
Revenues $ 7 $ — $25,320 $ — $25,327
Expenses 240 — 21,219 — 21,459
Operating income (loss) (233) — 4,101 — 3,868
Other (Expense) Income:
Interest expense, net (1,504) (145) 1,104 — (545)
Equity earnings of affiliates 1 — 887 — 888
Earnings (losses) from subsidiary entities 1,645 2,558 — (4,203) —
Other, net 20 (99) 273 — 194
Income (loss) from continuing operations before
income tax expense and minority interest in
subsidiaries (71) 2,314 6,365 (4,203) 4,405
Income tax benefit (expense) 24 — (2,164) 614 (1,526)
Minority interest in subsidiaries, net of tax — — (67) — (67)
Income (loss) from continuing operations (47) 2,314 4,134 (3,589) 2,812
Gain on disposal of discontinued operations — — 515 — 515
Income (loss) before cumulative effect of
accounting change (47) 2,314 4,649 (3,589) 3,327
Cumulative effect of accounting change, net of
tax — — (1,013) — (1,013)
Net income (loss) $ (47) $2,314 $ 3,636 $(3,589) $ 2,314
See notes to supplemental guarantor information
NEWS CORPORATION 2007 Annual Report 121