| Organization, Consolidation and Presentation of Financial Statements [Abstract] | Period [Axis] |
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2015-07-01 - 2016-06-30 |
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Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Components of Other Current Assets Included in Balance Sheets |
The following
table sets forth the components of Other current assets included in
the Balance Sheets:
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As of June
30, |
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2016 |
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2015 |
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(in
millions) |
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Inventory(a)
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$ |
218 |
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$ |
299 |
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Deferred tax
assets
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|
— |
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63 |
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Assets held for
sale
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— |
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|
92 |
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Amounts due from 21st
Century Fox
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|
55 |
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|
63 |
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Prepayments and other
current assets
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|
240 |
|
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263 |
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Total Other current
assets
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$ |
513 |
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$ |
780 |
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| (a) |
Inventory as of June 30, 2016 and 2015 was primarily comprised
of books, newsprint, printing ink, and programming
rights.
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Components of Other Non-Current Assets Included in Balance Sheets |
The following
table sets forth the components of Other non-current assets
included in the Balance Sheets:
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As of June
30, |
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2016 |
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2015 |
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(in
millions) |
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Royalty advances to
authors
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$ |
311 |
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$ |
304 |
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Other
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|
85 |
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|
163 |
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Total Other non-current
assets
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$ |
396 |
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$ |
467 |
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Components of Other Current Liabilities |
The following
table sets forth the components of Other current
liabilities:
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As of June
30, |
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2016 |
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2015 |
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(in
millions) |
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Current tax
payable
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$ |
33 |
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$ |
27 |
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Royalties and commissions
payable
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|
179 |
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163 |
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Other
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|
254 |
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211 |
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Total Other current
liabilities
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$ |
466 |
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$ |
401 |
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Components of Other, Net Included in Statements of Operations |
The following
table sets forth the components of Other, net included in the
Statements of Operations:
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For the fiscal years ended June 30, |
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2016 |
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2015 |
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2014 |
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(in
millions) |
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Gain on iProperty
transaction(a)
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$ |
29 |
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$ |
— |
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$ |
— |
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Impairment of marketable
securities and cost method investments(b)
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(21 |
) |
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(5 |
) |
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(10 |
) |
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Foreign tax refund payable
to 21st Century Fox(c)
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— |
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— |
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(721 |
) |
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Gain on third party pension
contribution(d)
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— |
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— |
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37 |
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Gain on sale of Australian
property
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— |
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— |
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36 |
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Gain on sale of marketable
securities(e)
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— |
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29 |
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6 |
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Dividends received from
cost method investments
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— |
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25 |
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— |
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Gain on sale of cost method
investments
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— |
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15 |
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— |
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Other
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10 |
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11 |
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(1 |
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Total Other, net
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$ |
18 |
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$ |
75 |
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$ |
(653 |
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| (a) |
See Note 3—Acquisitions, Disposals and Other
Transactions.
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| (b) |
See Note 6—Investments
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| (c) |
See Note 18—Income Taxes
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| (d) |
During the first quarter of fiscal 2014 approximately $37
million of contributions were made to a foreign pension plan by a
third party in connection with the sale of a business in a prior
period on behalf of former employees who retained certain pension
benefits. This contribution reduced the Company’s Retirement
benefit obligation and resulted in a gain being recognized in
Other, net in the Statement of Operations during the fiscal year
ended June 30, 2014.
|
| (e) |
In August 2014, REA Group completed the sale of a minority
interest held in marketable securities for total cash consideration
of $104 million. As a result of the sale, REA Group recognized a
pre-tax gain of $29 million, which was reclassified out of
accumulated other comprehensive income and included in Other, net
in the Statement of Operations.
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Components of Accumulated Other Comprehensive (Loss) Income |
The components
of Accumulated other comprehensive (loss) income were as
follows:
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For the fiscal years ended June 30, |
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2016 |
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2015 |
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2014 |
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(in
millions) |
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Accumulated other
comprehensive (loss) income, net of tax:
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Unrealized holding gains
(losses) on securities:
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Balance, beginning of
year
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$ |
19 |
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$ |
24 |
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$ |
2 |
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Fiscal year
activity(a)
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1 |
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(5 |
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22 |
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Balance, end of
year
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20 |
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19 |
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24 |
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Benefit Plan
Adjustments:
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Balance, beginning of
year
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(413 |
) |
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|
(384 |
) |
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(348 |
) |
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Fiscal year
activity(b)
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(32 |
) |
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(29 |
) |
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(36 |
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Balance, end of
year
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(445 |
) |
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(413 |
) |
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(384 |
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Foreign currency
translation adjustments:
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Balance, beginning of
year
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(188 |
) |
|
|
971 |
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|
|
617 |
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Fiscal year
activity(c)
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(397 |
) |
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(1,159 |
) |
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|
354 |
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Balance, end of
year
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(585 |
) |
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(188 |
) |
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|
971 |
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Share of other
comprehensive income from equity affiliates, net:
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Balance, beginning of
year
|
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|
— |
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(1 |
) |
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— |
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Fiscal year
activity(d)
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(16 |
) |
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|
1 |
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(1 |
) |
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Balance, end of
year
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(16 |
) |
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— |
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(1 |
) |
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Total accumulated other
comprehensive (loss) income, net of tax:
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Balance, beginning of
year
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(582 |
) |
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|
610 |
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|
271 |
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Fiscal year activity, net
of income taxes
|
|
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(444 |
) |
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(1,192 |
) |
|
|
339 |
|
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Balance, end of
year
|
|
$ |
(1,026 |
) |
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$ |
(582 |
) |
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$ |
610 |
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| (a) |
Net of income tax expense of nil, nil and $14 million for the
fiscal years ended June 30, 2016, 2015 and 2014,
respectively.
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| (b) |
Net of income tax (benefit) of ($14) million, ($11) million and
($3) million for the fiscal years ended June 30, 2016, 2015 and
2014, respectively.
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| (c) |
Excludes ($1) million, ($24) million and $2 million relating to
noncontrolling interests for the fiscal years ended June 30, 2016,
2015 and 2014, respectively.
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| (d) |
Net of income tax (benefit) expense of ($7) million, $1 million
and ($1) million for the fiscal years ended June 30, 2016, 2015 and
2014, respectively.
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