Twenty-First Century Fox 2007 Annual Report Download - page 123

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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, 2005
(US$ in millions)
News
America
Incorporated
News
Corporation Non-Guarantor
Reclassifications
and
Eliminations
News
Corporation
and
Subsidiaries
Revenues $ 4 $ — $23,855 $ — $23,859
Expenses 261 — 20,034 — 20,295
Operating income (loss) (257) — 3,821 — 3,564
Other (Expense) Income:
Interest expense, net (1,880) — 1,344 — (536)
Equity earnings of affiliates — — 355 — 355
Earnings (losses) from subsidiary entities 3,191 2,128 — (5,319) —
Other, net 319 — (141) — 178
Income (loss) before income tax expense and
minority interest in subsidiaries 1,373 2,128 5,379 (5,319) 3,561
Income tax (expense) benefit (481) — (1,883) 1,144 (1,220)
Minority interest in subsidiaries, net of tax — — (213) — (213)
Net income (loss) $ 892 $2,128 $ 3,283 $(4,175) $ 2,128
See notes to supplemental guarantor information
122