Twenty-First Century Fox 2008 Annual Report Download - page 127

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NEWSCORP
Notes to the Consolidated Financial Statements (continued)
2008 2007 2006
For the years ended June 30, (in millions)
Revenues:
Filmed Entertainment $ 6,699 $ 6,734 $ 6,199
Television 5,807 5,705 5,334
Cable Network Programming 4,993 3,902 3,358
Direct Broadcast Satellite Television 3,749 3,076 2,542
Magazines and Inserts 1,124 1,119 1,090
Newspapers and Information Services 6,248 4,486 4,095
Book Publishing 1,388 1,347 1,312
Other 2,988 2,286 1,397
Total revenues $32,996 $28,655 $25,327
Operating income:
Filmed Entertainment $ 1,246 $ 1,225 $ 1,092
Television 1,126 962 1,032
Cable Network Programming 1,269 1,090 864
Direct Broadcast Satellite Television 419 221 39
Magazines and Inserts 352 335 307
Newspapers and Information Services 767 653 517
Book Publishing 160 159 167
Other 42 (193) (150)
Total operating income 5,381 4,452 3,868
Equity earnings of affiliates 327 1,019 888
Interest expense, net (926) (843) (791)
Interest income 246 319 246
Other, net 2,293 359 194
Income from continuing operations before income tax expense and minority interest in
subsidiaries 7,321 5,306 4,405
Income tax expense (1,803) (1,814) (1,526)
Minority interest in subsidiaries, net of tax (131) (66) (67)
Income from continuing operations 5,387 3,426 2,812
Gain on disposition of discontinued operations, net of tax — — 515
Income before cumulative effect of accounting change 5,387 3,426 3,327
Cumulative effect of accounting change, net of tax — — (1,013)
Net income $ 5,387 $ 3,426 $ 2,314
Equity earnings of affiliates, Interest expense, net, Interest income, Other, net, Income tax expense and Minority interest in subsidiaries are
not allocated to segments as they are not under the control of segment management.
Intersegment revenues, generated primarily by the Filmed Entertainment segment, of approximately $842 million, $1,030 million and $864
million for the fiscal years ended June 30, 2008, 2007 and 2006, respectively, have been eliminated within the Filmed Entertainment segment.
Intersegment operating profit (losses) generated primarily by the Filmed Entertainment segment of approximately $23 million, $5 million and $(2)
million for the fiscal years ended June 30, 2008, 2007 and 2006, respectively, have been eliminated within the Filmed Entertainment segment.
126 NEWSCORP 2008 Annual Report