Twenty-First Century Fox 2014 Annual Report Download - page 66

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60
rights payments in the DBS segment principally from the consolidation of Sky Deutschland and higher cash taxes
paid of $164 million.
Net cash provided by (used in) investing activities for fiscal 2013 and 2012 was as follows (in millions):
For the years ended June 30, 2013 2012
N
et cash provided by (used in) investing activities ....................................................... $ 86 $ (766)
The increase in net cash provided by investing activities during fiscal 2013, as compared to fiscal 2012, was
primarily due to the sale of the 49% investment in NDS for approximately $1.9 billion in total consideration,
partially offset by additional cash utilized for acquisitions, property, plant and equipment and the purchase of a 49%
equity interest in the YES Network.
Net cash used in financing activities for fiscal 2013 and 2012 was as follows (in millions):
For the years ended June 30, 2013 2012
N
et cash used in financing activities .............................................................................. $ (4,571 ) $ (5,102)
The decrease in net cash used in financing activities for fiscal 2013 as compared to net cash used in financing
activities in fiscal 2012 was primarily due to lower share repurchases of approximately $2.6 billion and an increase
in net borrowing of approximately $550 million. These sources of cash were partially offset by the cash contribution
to News Corp in connection with the Separation.
Debt Instruments
The following table summarizes cash from borrowings and cash used in repayments of borrowings for fiscal
2014, 2013 and 2012.
For the years ended June 30,
2014 2013 2012
(in millions)
Borrowings
N
otes due September 2023 and due September 2043(a) ........................... $ 987 $ - $ -
N
otes due September 2022(a) ................................................................... - 987 -
N
ew revolving credit facility (Sky Deutschland)(a) .................................. - 293 -
Bank loans(b) ............................................................................................ 168 - -
All other ................................................................................................... - (3 ) -
Total borrowings ................................................................................ $ 1,155 $ 1,277 $ -
Repayments of borrowings
A$ Notes due February 2014(a) ................................................................ $ (134) $ - $ -
N
otes due February 2013(a) ...................................................................... - (273 ) -
Bank loans(b) ............................................................................................ (162) - (32)
All other(c) ................................................................................................ - (481 ) (3)
Total repayment of borrowings .......................................................... $ (296) $ (754 ) $ (35)
(a) See Note 11 – Borrowings to the accompanying Consolidated Financial Statements of Twenty-First Century
Fox.
(b) The fiscal 2014 activity includes $168 million in borrowings and $143 million in repayments under the YES
Network secured revolving credit facility. The balance of the repayments was related to the YES Network
term loan facility.
(c) The repayment of borrowings includes debt acquired in the Sky Deutschland transaction which was
subsequently repaid in full during the third quarter of fiscal 2013. (See Note 3 – Acquisitions, Disposals and
Other Transactions to the accompanying Consolidated Financial Statements of Twenty-First Century Fox)