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TWENTY-FIRST CENTURY FOX, INC.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
Summarized financial information
Summarized financial information for a significant equity affiliate, determined in accordance with
Regulation S-X of the Securities and Exchange Acts of 1934, as amended, accounted for under the equity method
was as follows:
For the years ended June 30,
2013 2012 2011
(in millions)
Revenues ......................................................... $11,342 $10,754 $10,485
Operatingincome ................................................... 2,024 1,968 1,705
Income from continuing operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,535 1,435 1,205
Netincome ........................................................ 1,535 1,435 1,287
As of June 30,
2013 2012
(in millions)
Currentassets ................................................................ $3,908 $3,573
Non-currentassets............................................................. 6,678 6,045
Currentliabilities.............................................................. 3,524 3,295
Non-currentliabilities .......................................................... 4,588 3,875
NOTE 8. FAIR VALUE
In accordance with ASC 820, fair value measurements are required to be disclosed using a three-tiered fair
value hierarchy which distinguishes market participant assumptions into the following categories: (i) inputs that
are quoted prices in active markets (“Level 1”); (ii) inputs other than quoted prices included within Level 1 that
are observable, including quoted prices for similar assets or liabilities (“Level 2”); and (iii) inputs that require the
entity to use its own assumptions about market participant assumptions (“Level 3”). Additionally, in accordance
with ASC 815, the Company has included additional disclosures about the Company’s derivatives and hedging
activities (Level 2).
The tables below present information about financial assets and liabilities carried at fair value on a recurring
basis:
Fair Value Measurements
As of June 30, 2013
Description Total
Quoted Prices in
Active Markets
for Identical
Instruments
(Level 1)
Significant
Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs (Level 3)
(in millions)
Assets
Available-for-sale securities (a) ................. $268 $268 $— $ —
Derivatives (b) .............................. 3 — 3 —
Redeemable noncontrolling interests (c) ............ (519) — — (519)
Total ........................................ $(248) $268 $ 3 $(519)
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