Twenty-First Century Fox 2008 Annual Report Download - page 136

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NEWSCORP
Notes to the Consolidated Financial Statements (continued)
Supplemental Condensed Consolidating Statement of Operations
For the year ended June 30, 2007
News America
Incorporated News Corporation Non-Guarantor Reclassifications
and Eliminations News Corporation
and Subsidiaries
(US$ in millions)
Revenues $ 7 $ — $28,648 $ — $28,655
Expenses 307 — 23,896 — 24,203
Operating income (loss) (300) — 4,752 — 4,452
Other (Expense) Income:
Interest expense, net (1,968) (320) (5,365) 6,810 (843)
Interest Income 228 205 6,696 (6,810) 319
Equity earnings of affiliates 4 — 1,015 — 1,019
Earnings (losses) from subsidiary entities 1,627 3,638 — (5,265) —
Other, net 169 (97) 287 359
Income (loss) before income tax expense and
minority interest in subsidiaries (240) 3,426 7,385 (5,265) 5,306
Income tax (expense) benefit 82 — (2,524) 628 (1,814)
Minority interest in subsidiaries, net of tax — — (66) — (66)
Net income (loss) $ (158) $3,426 $ 4,795 $(4,637) $ 3,426
See notes to supplemental guarantor information
135