Twenty-First Century Fox 2008 Annual Report Download - page 130

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NEWSCORP
Notes to the Consolidated Financial Statements (continued)
Geographic Segments
2008 2007 2006
For the years ended June 30, (in millions)
Revenues:
United States and Canada (1) $ 16,987 $ 15,282 $14,102
Europe (2) 10,757 9,073 7,552
Australasia and Other (3) 5,252 4,300 3,673
Total revenues $32,996 $28,655 $25,327
(1) Revenues include approximately $16.4 billion, $14.8 billion and $13.6 billion from customers in the United States in fiscal 2008, 2007 and 2006,
respectively.
(2) Revenues include approximately $3.7 billion, $3.6 billion and $3.1 billion from customers in the United Kingdom in fiscal 2008, 2007 and 2006,
respectively, as well as approximately $4.1 billion, $3.4 billion and $2.8 billion from customers in Italy in fiscal 2008, 2007 and 2006,
respectively.
(3) Revenues include approximately $3.2 billion, $2.5 billion and $2.2 billion from customers in Australia in fiscal 2008, 2007 and 2006,
respectively.
2008 2007
As of June 30, (in millions)
Long-Lived Assets:
United States and Canada $ 33,511 $35,289
Europe 7,893 4,948
Australasia and Other 6,542 6,200
Total long-lived assets $47,946 $46,437
There is no material reliance on any single customer. Revenues are attributed to countries based on location of customers.
Australasia comprises Australia, Asia, Fiji, Papua New Guinea and New Zealand.
Note 19 EARNINGS PER SHARE
Prior to fiscal 2008, earnings per share (“EPS”) was computed individually for the Class A Common Stock and Class B Common Stock and net
income was apportioned to both Class A stockholders and Class B stockholders on a ratio of 1.2 to 1, respectively, in accordance with the rights of
the stockholders as described in the Company’s Restated Certificate of Incorporation. In order to give effect to this apportionment when
determining EPS, the weighted average Class A Common Stock was increased by 20% (the “Adjusted Class”) and was then compared to the sum
of the weighted average Class B Common Stock and the weighted average Adjusted Class. The resulting percentage was then applied to the Net
income to determine the apportionment for the Class A stockholders, with the balance attributable to the Class B stockholders. Subsequent to the
final fiscal 2007 dividend, shares of Class A Common Stock no longer carry the right to a greater dividend than shares of Class B Common Stock
and, therefore, Net income is allocated equally to Class A and Class B stockholders. Accordingly, since the apportionment of earnings has been
eliminated as required by the Company’s Restated Certificate of Incorporation, the Company has presented the earnings of Class A Common Stock
and Class B Common Stock as a single class for fiscal 2008.
The following tables set forth the computation of basic and diluted earnings per share under SFAS No. 128, “Earnings per Share”:
2008 2007 2006
For the years ended June 30 (in millions)
Income from continuing operations available to shareholders—basic $5,387 $3,426 $ 2,812
Other (1) (5) (1)
Income from continuing operations available to shareholders—diluted $5,386 $ 3,421 $ 2,811
Gain on disposition of discontinued operations $ — $ — $ 515
Cumulative effect of accounting change, net of tax $ — $ — $(1,013)
Net income available to shareholders—basic $5,387 $3,426 $ 2,314
Other (1) (5) (1)
Net income available to shareholders—diluted $5,386 $ 3,421 $ 2,313
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