Twenty-First Century Fox 2008 Annual Report Download - page 84

Download and view the complete annual report

Please find page 84 of the 2008 Twenty-First Century Fox annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 152

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152

NEWSCORP
Consolidated Statements of Cash Flows
2008 2007 2006
For the years ended June 30, (In Millions)
Operating activities:
Net income $ 5,387 $ 3,426 $ 2,314
Gain on disposition of discontinued operations, net of tax — — (515)
Cumulative effect of accounting change, net of tax — — 1,013
Income from continuing operations 5,387 3,426 2,812
Adjustments to reconcile income from continuing operations to cash provided by operating
activities:
Depreciation and amortization 1,207 879 775
Amortization of cable distribution investments 80 77 103
Equity earnings of affiliates (327) (1,019) (888)
Cash distributions received from affiliates 350 255 233
Other, net (2,293) (359) (194)
Minority interest in subsidiaries, net of tax 131 66 67
Change in operating assets and liabilities, net of acquisitions:
Receivables and other assets (923) (169) (765)
Inventories, net (587) (360) (508)
Accounts payable and other liabilities 900 1,314 1,622
Net cash provided by operating activities 3,925 4,110 3,257
Investing activities:
Property, plant and equipment, net of acquisitions (1,443) (1,308) (976)
Acquisitions, net of cash acquired (5,567) (1,059) (1,989)
Investments in equity affiliates (799) (121) (89)
Other investments (125) (328) (28)
Proceeds from sale of investments, other non-current assets and business disposals 1,580 740 412
Proceeds from disposition of discontinued operations — — 610
Net cash used in investing activities (6,354) (2,076) (2,060)
Financing activities:
Borrowings 1,292 1,196 1,159
Repayment of borrowings (728) (198) (865)
Issuance of shares 90 392 232
Repurchase of shares (939) (1,294) (2,027)
Dividends paid (373) (369) (431)
Other, net 22 — —
Net cash used in financing activities (636) (273) (1,932)
Net (decrease) increase in cash and cash equivalents (3,065) 1,761 (735)
Cash and cash equivalents, beginning of year 7,654 5,783 6,470
Exchange movement of opening cash balance 73 110 48
Cash and cash equivalents, end of year $ 4,662 $ 7,654 $ 5,783
The accompanying notes are an integral part of these audited consolidated financial statements.
83