Twenty-First Century Fox 2008 Annual Report Download - page 76

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NEWSCORP
Management’s Discussion and Analysis of Financial Condition and Results of Operations (continued)
Changes in net periodic pension expense may occur in the future due to changes in the Company’s expected rate of return on plan assets and
discount rate resulting from economic events. The following table highlights the sensitivity of the Company’s pension obligations and expense to
changes in these assumptions, assuming all other assumptions remain constant:
Changes in Assumption Impact on Annual
Pension Expense Impact on PBO
0.25 percentage point decrease in discount rate Increase $11 million Increase $97 million
0.25 percentage point increase in discount rate Decrease $11 million Decrease $97 million
0.25 percentage point decrease in expected rate
of return on assets Increase $6 million —
0.25 percentage point increase in expected rate
of return on assets Decrease $6 million —
Net periodic pension expense for the Company’s pension plans is expected to be approximately $115 million in fiscal 2009. The increase is
primarily due to the economic conditions noted above.
Recent Accounting Pronouncements
See Note 2 to the Consolidated Financial Statements of News Corporation for discussion of recent accounting pronouncements.
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