Twenty-First Century Fox 2014 Annual Report Download - page 85

Download and view the complete annual report

Please find page 85 of the 2014 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 168

  • 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
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168

79
TWENTY-FIRST CENTURY FOX, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(IN MILLIONS)
For the years ended June 30,
2014 2013 2012
Operating activities:
N
et income ................................................................................................... $ 4,646 $ 7,323 $ 1,372
Less: Income (loss) from discontinued operations, net of tax ...................... 729 277 (1,997)
Income from continuing operations .............................................................. 3,917 7,046 3,369
Adjustments to reconcile income from continuing operations
to cash provided by operating activities:
Amortization of cable distribution investments ...................................... 85 89 88
Depreciation and amortization ................................................................ 1,142 797 711
Impairment charges ................................................................................ - 35 201
Equity earnings of affiliates .................................................................... (622) (655 ) (636)
Cash distributions received from affiliates ............................................. 358 324 281
Other, net ................................................................................................ (174) (3,747 ) (25)
Change in operating assets and liabilities, net of acquisitions:
Receivables and other assets ............................................................. (790) (127 ) (734)
Inventories, net ................................................................................. (1,057) (1,035 ) (393)
Accounts payable and other liabilities .............................................. 105 275 (28)
N
et cash provided by operating activities from continuing operations ........ 2,964 3,002 2,834
Investing activities:
Property, plant and equipment ................................................................ (678) (622 ) (564)
Acquisitions, net of cash acquired .......................................................... (692) (606 ) (450)
Investments in equity affiliates ............................................................... (19) (502 ) 25
Other investments ................................................................................... (64) (152 ) (181)
Proceeds from dispositions ..................................................................... 518 1,968 404
N
et cash (used in) provided by investing activities from continuing
operations ................................................................................................... (935) 86 (766)
Financing activities:
Borrowings ............................................................................................. 1,155 1,277 -
Repayment of borrowings ...................................................................... (296) (754 ) (35)
Issuance of shares ................................................................................... 66 203 167
Repurchase of shares .............................................................................. (3,772) (2,026 ) (4,589)
Dividends paid ........................................................................................ (792) (613 ) (580)
Purchase of subsidiary shares from noncontrolling interest ................... (127) (163 ) (65)
Sale of subsidiary shares to noncontrolling interest ................................ - 93 -
Distribution to News Corporation .......................................................... (10) (2,588 ) -
N
et cash used in financing activities from continuing operations ................ (3,776) (4,571 ) (5,102)
N
et increase (decrease) in cash and cash equivalents from
discontinued operations ............................................................................. 571 (1,431 ) 288
N
et decrease in cash and cash equivalents ................................................... (1,176) (2,914 ) (2,746)
Cash and cash equivalents, beginning of year .............................................. 6,659 9,626 12,680
Exchange movement on cash balances ......................................................... (68) (53 ) (308)
Cash and cash equivalents, end of year ........................................................ $ 5,415 $ 6,659 $ 9,626
The accompanying notes are an integral part of these audited consolidated financial statements.