Twenty-First Century Fox 2011 Annual Report Download - page 83

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Notes to the Consolidated Financial Statements (continued)
income (loss) before depreciation and amortization also excludes depreciation and amortization which are also significant components in assessing
the Company’s financial performance.
Management believes that total segment operating income and segment operating income (loss) before depreciation and amortization are
appropriate measures for evaluating the operating performance of the Company’s business. Total segment operating income and segment
operating income (loss) before depreciation and amortization provide management, investors and equity analysts measures to analyze operating
performance of the Company’s business and its enterprise value against historical data and competitors’ data, although historical results, including
total segment operating income and segment operating income (loss) before depreciation and amortization, may not be indicative of future results
(as operating performance is highly contingent on many factors, including customer tastes and preferences).
2011 2010 2009
For the years ended June 30, (in millions)
Revenues:
Cable Network Programming $ 8,037 $ 7,038 $ 6,131
Filmed Entertainment 6,899 7,631 5,936
Television 4,778 4,228 4,051
Direct Broadcast Satellite Television 3,761 3,802 3,760
Publishing 8,826 8,548 8,167
Other 1,104 1,531 2,378
Total revenues $33,405 $32,778 $30,423
Segment operating income (loss):
Cable Network Programming $ 2,760 $ 2,268 $ 1,653
Filmed Entertainment 927 1,349 848
Television 681 220 191
Direct Broadcast Satellite Television 232 230 393
Publishing 864 467 836
Other (614) (575) (363)
Total segment operating income 4,850 3,959 3,558
Impairment and restructuring charges (313) (253) (9,208)
Equity earnings (losses) of affiliates 462 448 (309)
Interest expense, net (966) (991) (927)
Interest income 126 91 91
Other, net 18 69 1,256
Income (loss) from continuing operations before income tax expense 4,177 3,323 (5,539)
Income tax (expense) benefit (1,029) (679) 2,229
Income (loss) from continuing operations 3,148 2,644 (3,310)
Loss on disposition of discontinued operations, net of tax (254) ——
Net income (loss) 2,894 2,644 (3,310)
Less: Net income attributable to noncontrolling interests (155) (105) (68)
Net income (loss) attributable to News Corporation stockholders $ 2,739 $ 2,539 $ (3,378)
2011 Annual Report 81