Twenty-First Century Fox 2008 Annual Report Download - page 133

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NEWSCORP
Notes to the Consolidated Financial Statements (continued)
Note 22 ADDITIONAL FINANCIAL INFORMATION
Supplemental Cash Flow Information
2008 2007 2006
For the years ended June 30, (in millions)
Supplemental cash flow information:
Cash paid for income taxes $ (1,867) $(969) $(558)
Cash paid for interest (873) (744) (715)
Sale of other investments 12 64 22
Purchase of other investments (137) (392) (50)
Supplemental information on businesses acquired:
Fair value of assets acquired 8,410 1,594 2,215
Cash acquired 94 96 26
Less: Liabilities assumed (2,444) (408) (232)
Minority interest acquired (203) (127) 39
Cash paid (5,661) (1,155) (2,015)
Fair value of equity instruments issued to third parties 196 — 33
Issuance of subsidiary common units 165 — —
Fair value of equity instruments consideration $ 31 $ — $ 33
The following table sets forth the components of Other, net included in the accompanying consolidated statements of operations:
2008 2007 2006
For the years ended June 30, (in millions)
Gain on Share Exchange Agreement (a) $ 1,676 $ — $ —
Gain on sale of Fox Sports Net Bay Area (b) 208 — —
Gain on sale of China Network Systems (b) 133 — —
Gain on sale of Gemstar (b) 112 — —
Gain on sale of Sky Brasil (b) — 261 —
Gain on sale of Phoenix Satellite Television Holdings Limited (b) — 136 —
Termination of Participation rights agreement (a) — 97 —
Gain on sale of Innova (b) — — 206
Gain on sale of China Netcom Group Corporation (b) — — 52
Impairment of cost based investments (b) (125) (2) (14)
Change in fair value of Exchangeable securities (c) 307 (126) (76)
Other (18) (7) 26
Total Other, net $2,293 $ 359 $ 194
(a) See Note 3—Acquisitions, Disposals and Other Transactions.
(b) See Note 6—Investments.
(c) The Company has certain outstanding exchangeable debt securities which contain embedded derivatives. Pursuant to SFAS No. 133, these
embedded derivatives are not designated as hedges and, as such, changes in their fair value are recognized in Other, net. A significant variance
in the price of the underlying stock could have a material impact on the operating results of the Company. See Note 10—Exchangeable
Securities.
132 NEWSCORP 2008 Annual Report