Twenty-First Century Fox 2013 Annual Report Download - page 70

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The increase in net cash provided by operating activities during the fiscal year ended June 30, 2013 as
compared to fiscal 2012 was primarily due to higher receipts at the Cable Network Programming segment driven
by higher Segment OIBDA of $628 million, lower pension contributions of $112 million and higher cash
distributions received from affiliates of $43 million. This increase was partially offset by higher film and
television production spend in the Film segment, higher sports program rights payments in the Television
segment, higher program rights payments in the Direct Broadcast Satellite Television segment principally from
the consolidation of Sky Deutschland and higher cash taxes paid of $164 million.
Net cash provided by (used in) investing activities for the fiscal year ended June 30, 2013 and 2012 was as
follows (in millions):
For the years ended June 30, 2013 2012
Net cash provided by (used in) investing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $86 $(766)
The increase in net cash provided by investing activities during the fiscal year ended June 30, 2013 as
compared to fiscal 2012 was primarily due to the sale of its 49% investment in NDS for approximately $1.9
billion in total consideration, partially offset by additional cash utilized for acquisitions, property, plant and
equipment and the purchase of a 49% equity interest in the YES Network.
Net cash used in financing activities for the fiscal year ended June 30, 2013 and 2012 was as follows (in
millions):
For the years ended June 30, 2013 2012
Net cash used in financing activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $(4,571) $(5,102)
The decrease in net cash used in financing activities for the fiscal year ended June 30, 2013 as compared to
net cash used in financing activities in fiscal 2012 was primarily due to lower share repurchases of approximately
$2.6 billion and an increase in net borrowing of approximately $550 million. These sources of cash were partially
offset by the cash contribution to News Corp in connection with the Separation.
In August 2013, the Board authorized the repurchase of $4 billion of Class A Common Stock, excluding
commissions, which replaced the remaining amount under the stock repurchase program. The Company intends
to complete this stock repurchase program within the next twelve months and expects to fund this through a
combination of cash generated by operations and cash on hand.
The total dividends declared related to fiscal 2013 results were $0.21 per share of Class A Common Stock
and Class B Common Stock. In August 2013, the Company declared the final dividend on fiscal 2013 results of
$0.125 per share for Class A Common Stock and Class B Common Stock. This together with the interim
dividend of $0.085 per share of Class A Common Stock and Class B Common Stock constitute the total dividend
relating to fiscal 2013.
Based on the number of shares outstanding as of June 30, 2013, the total aggregate cash dividends expected
to be paid to stockholders in fiscal 2014 is approximately $580 million.
Sources and Uses of Cash—Fiscal 2012 vs. Fiscal 2011
Net cash provided by operating activities for the fiscal year ended June 30, 2012 and 2011 was as follows
(in millions):
For the years ended June 30, 2012 2011
Net cash provided by operating activities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2,834 $3,038
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