Twenty-First Century Fox (TFCF) 10-Q 2 Nov 16 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Sep. 30, 2016	Oct. 28, 2016
Document And Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Entity Registrant Name	TWENTY-FIRST CENTURY FOX, INC.
Entity Central Index Key	1,308,161
Current Fiscal Year End Date	--06-30
Entity Filer Category	Large Accelerated Filer
Class A Common Stock
Document And Entity Information [Line Items]
Trading Symbol	FOXA
Entity Common Stock, Shares Outstanding		1,056,810,730
Class B Common Stock
Document And Entity Information [Line Items]
Trading Symbol	FOX
Entity Common Stock, Shares Outstanding		798,520,953

UNAUDITED CONSOLIDATED STATEMEN

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions		3 Months Ended
		Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
Revenues		$ 6,506	$ 6,077
Operating expenses		(3,864)	(3,673)
Selling, general and administrative		(866)	(889)
Depreciation and amortization		(135)	(128)
Equity earnings of affiliates		35	35
Interest expense, net		(300)	(295)
Interest income		9	9
Other, net		(148)	(83)
Income from continuing operations before income tax expense		1,237	1,053
Income tax expense		(343)	(313)
Income from continuing operations		894	740
Loss from discontinued operations, net of tax		(6)	(3)
Net income		888	737
Less: Net income attributable to noncontrolling interests	[1]	(67)	(62)
Net income attributable to Twenty-First Century Fox, Inc. stockholders		821	675
Earnings per share data
Income from continuing operations attributable to Twenty-First Century Fox, Inc. stockholders - basic and diluted		$ 827	$ 678
Weighted average shares:
Basic		1,861	2,009
Diluted		1,863	2,012
Income from continuing operations attributable to Twenty-First Century Fox, Inc. stockholders per share - basic and diluted		$ 0.44	$ 0.34
Net income attributable to Twenty-First Century Fox, Inc. stockholders per share - basic and diluted		$ 0.44	$ 0.34
[1]	Net income attributable to noncontrolling interests includes $27 million and $28 million for the three months ended September 30, 2016 and 2015, respectively, relating to redeemable noncontrolling interests.

UNAUDITED CONSOLIDATED STATEME3

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions		3 Months Ended
		Sep. 30, 2016	Sep. 30, 2015
Statement Of Income And Comprehensive Income [Abstract]
Net income		$ 888	$ 737
Other comprehensive loss, net of tax:
Foreign currency translation adjustments		2	(66)
Cash flow hedges		8	4
Unrealized holding losses on securities		0	(4)
Benefit plan adjustments		9	4
Equity method investments		(59)	(87)
Other comprehensive loss, net of tax		(40)	(149)
Comprehensive income		848	588
Less: Net income attributable to noncontrolling interests	[1]	(67)	(62)
Less: Other comprehensive income attributable to noncontrolling interests		(1)
Comprehensive income attributable to Twenty-First Century Fox, Inc. stockholders		$ 780	$ 526
[1]	Net income attributable to noncontrolling interests includes $27 million and $28 million for the three months ended September 30, 2016 and 2015, respectively, relating to redeemable noncontrolling interests.

UNAUDITED CONSOLIDATED STATEME4

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Statement Of Income And Comprehensive Income [Abstract]
Net income attributable to redeemable noncontrolling interests	$ 27	$ 28

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Sep. 30, 2016	Jun. 30, 2016
Current assets:
Cash and cash equivalents		$ 4,681	$ 4,424
Receivables, net		6,099	6,258
Inventories, net	[1]	3,300	3,291
Other		841	976
Total current assets		14,921	14,949
Non-current assets:
Receivables, net		465	389
Investments		3,912	3,863
Inventories, net		7,396	7,041
Property, plant and equipment, net		1,669	1,692
Intangible assets, net		6,715	6,777
Goodwill		12,739	12,733
Other non-current assets		809	749
Total assets		48,626	48,193
Current liabilities:
Borrowings		454	427
Accounts payable, accrued expenses and other current liabilities		3,438	3,181
Participations, residuals and royalties payable		1,573	1,672
Program rights payable		1,345	1,283
Deferred revenue		612	505
Total current liabilities		7,422	7,068
Non-current liabilities:
Borrowings		19,034	19,126
Other liabilities		3,780	3,678
Deferred income taxes		2,782	2,888
Redeemable noncontrolling interests		553	552
Commitments and contingencies
Equity:
Additional paid-in capital		12,232	12,211
Retained earnings		3,741	3,575
Accumulated other comprehensive loss		(2,185)	(2,144)
Total Twenty-First Century Fox, Inc. stockholders' equity		13,807	13,661
Noncontrolling interests		1,248	1,220
Total equity		15,055	14,881
Total liabilities and equity		48,626	48,193
Class A Common Stock
Equity:
Common stock	[2]	11	11
Class B Common Stock
Equity:
Common stock	[3]	$ 8	$ 8
[1]	Current portion of inventories, net as of September 30, 2016 and June 30, 2016 was comprised of programming rights ($3,198 million and $3,212 million, respectively), DVDs, Blu-rays and other merchandise.
[2]	Class A common stock, $0.01 par value per share, 6,000,000,000 shares authorized, 1,057,115,617 shares and 1,071,302,532 shares issued and outstanding, net of 123,687,371 treasury shares at par as of September 30, 2016 and June 30, 2016, respectively.
[3]	Class B common stock, $0.01 par value per share, 3,000,000,000 shares authorized, 798,520,953 shares issued and outstanding, net of 356,993,807 treasury shares at par as of September 30, 2016 and June 30, 2016.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2016	Jun. 30, 2016
Class A Common Stock
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	6,000,000,000	6,000,000,000
Common stock, shares issued and outstanding net of treasury stock	1,057,115,617	1,071,302,532
Common stock, treasury shares	123,687,371	123,687,371
Class B Common Stock
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	3,000,000,000	3,000,000,000
Common stock, shares issued and outstanding net of treasury stock	798,520,953	798,520,953
Common stock, treasury shares	356,993,807	356,993,807

UNAUDITED CONSOLIDATED STATEME7

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions		3 Months Ended
		Sep. 30, 2016	Sep. 30, 2015
Operating activities:
Net income		$ 888	$ 737
Less: Loss from discontinued operations, net of tax		(6)	(3)
Income from continuing operations		894	740
Adjustments to reconcile income from continuing operations to cash provided by (used in) operating activities:
Depreciation and amortization		135	128
Amortization of cable distribution investments		15	20
Equity-based compensation		42	86
Equity earnings of affiliates		(35)	(35)
Cash distributions received from affiliates		2	6
Other, net		148	83
Deferred income taxes and other taxes		(12)	175
Change in operating assets and liabilities, net of acquisitions and dispositions:
Receivables		86	(144)
Inventories net of program rights payable		(343)	(516)
Accounts payable and accrued expenses		(51)	(332)
Other changes, net		99	(96)
Net cash provided by (used in) operating activities from continuing operations		980	(305)
Investing activities:
Property, plant and equipment		(53)	(34)
Investments in equity affiliates		(6)	(86)
Other investments		(63)	(163)
Net cash used in investing activities from continuing operations		(122)	(283)
Financing activities:
Borrowings		37	91
Repayment of borrowings		(105)	(119)
Repurchase of shares		(467)	(1,889)
Dividends paid and distributions		(54)	(56)
Other financing activities, net		(19)	8
Net cash used in financing activities from continuing operations		(608)	(1,965)
Net decrease in cash and cash equivalents from discontinued operations		(6)	(7)
Net increase (decrease) in cash and cash equivalents		244	(2,560)
Cash and cash equivalents, beginning of year		4,424	8,428
Exchange movement on cash balances		13	(38)
Cash and cash equivalents, end of period		$ 4,681	5,830
CLT20
Adjustments to reconcile income from continuing operations to cash provided by (used in) operating activities:
CLT20 contract termination costs	[1]		$ (420)
[1]	See Note 5 – Restructuring Programs under the heading “Fiscal 2016” in the 2016 Form 10-K as defined in Note 1 – Basis of Presentation

Basis of Presentation

Basis of Presentation	3 Months Ended
	Sep. 30, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Basis of Presentation	NOTE 1. BASIS OF PRESENTATION Twenty-First Century Fox, Inc., a Delaware corporation, and its subsidiaries (together, “Twenty-First Century Fox” or the “Company”) is a diversified global media and entertainment company, which currently manages and reports its businesses in the following four segments: Cable Network Programming, Television, Filmed Entertainment and Other, Corporate and Eliminations. The accompanying Unaudited Consolidated Financial Statements of the Company have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, all adjustments consisting only of normal recurring adjustments necessary for a fair presentation have been reflected in these Unaudited Consolidated Financial Statements. Operating results for the interim periods presented are not necessarily indicative of the results that may be expected for the fiscal year ending June 30, 2017. These interim Unaudited Consolidated Financial Statements and notes thereto should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2016 as filed with the Securities and Exchange Commission (“SEC”) on August 11, 2016 (the “2016 Form 10-K”). The Unaudited Consolidated Financial Statements include the accounts of Twenty-First Century Fox. All significant intercompany accounts and transactions have been eliminated in consolidation, including the intercompany portion of transactions with equity method investees Investments in and advances to entities or joint ventures in which the Company has significant influence, but less than a controlling voting interest, are accounted for using the equity method. Investments in which the Company has no significant influence are designated as available-for-sale investments if readily determinable market values are available. If an investment’s fair value is not readily determinable, the Company accounts for its investment at cost. The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts that are reported in the consolidated financial statements and accompanying disclosures. Actual results may differ from those estimates. Certain fiscal 2016 amounts have been reclassified to conform to the fiscal 2017 presentation. Unless indicated otherwise, the information in the notes to the Unaudited Consolidated Financial Statements relates to the Company’s continuing operations. Recently Adopted and Recently Issued Accounting Guidance Adopted In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-03, “Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs” (“ASU 2015-03”). To simplify the presentation of debt issuance costs, ASU 2015-03 requires debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. On July 1, 2016, the Company adopted ASU 2015-03 on a retrospective basis (See Note 6 – Borrowings). Issued In August 2016, the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” (“ASU 2016-15”). ASU 2016-15 addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. ASU 2016-15 is effective for the Company for annual and interim reporting periods beginning July 1, 2018. The Company is currently evaluating the impact ASU 2016-15 will have on its consolidated financial statements.

Acquisitions, Disposals and Oth

Acquisitions, Disposals and Other Transactions	3 Months Ended
	Sep. 30, 2016
Acquisitions Disposals And Other Transactions [Abstract]
Acquisitions, Disposals and Other Transactions	NOTE 2. ACQUISITIONS, DISPOSALS AND OTHER TRANSACTIONS The Company’s acquisitions support the Company’s strategic priority of increasing its brand presence and reach in key domestic and international markets and acquiring greater control of investments that complement its portfolio of businesses. For recent acquisitions, the accounting for the business combination, including consideration transferred, is based on provisional amounts and the allocation of the excess purchase price is not final. The amounts allocated to intangibles and goodwill, the estimates of useful lives and the related amortization expense are subject to changes pending the completion of the final valuations of certain assets and liabilities. A change in the purchase price allocations and any estimates of useful lives could result in a change in the value allocated to the intangible assets that could impact future amortization expense. Fiscal 2016 See Note 3 – Acquisitions, Disposals and Other Transactions in the 2016 Form 10-K under the heading “Fiscal 2016”. The accounting for the National Geographic Partners and MAA Television Network transactions in Fiscal 2016 continue to be based on provisional amounts and the allocation of the excess purchase price is not final.

Inventories, Net

Inventories, Net	3 Months Ended
	Sep. 30, 2016
Inventory Disclosure [Abstract]
Inventories, Net	NOTE 3. INVENTORIES, NET The Company’s inventories were comprised of the following: As of September 30, 2016 As of June 30, 2016 (in millions) Programming rights and other (a) $ 6,601 $ 6,359 Filmed entertainment costs: Films: Released or completed 1,562 1,569 In production 789 825 In development or preproduction 236 196 - 2,587 2,590 Television productions: Released 931 1,067 In production, development or preproduction 577 316 1,508 1,383 Total filmed entertainment costs, less accumulated amortization (b) 4,095 3,973 Total inventories, net 10,696 10,332 Less: current portion of inventories, net (c) (3,300 ) (3,291 ) Total non-current inventories, net $ 7,396 $ 7,041 (a) Other includes DVDs, Blu-rays and other merchandise. (b) Does not include $265 million and $273 million of net intangible film library costs as of September 30, 2016 and June 30, 2016, respectively, which were included in intangible assets subject to amortization in the Consolidated Balance Sheets. (c) Current portion of inventories, net as of September 30, 2016 and June 30, 2016 was comprised of programming rights ($3,198 million and $3,212 million, respectively), DVDs, Blu-rays and other merchandise.

Investments

Investments	3 Months Ended
	Sep. 30, 2016
Investments [Abstract]
Investments	NOTE 4. INVESTMENTS The Company’s investments were comprised of the following: Ownership percentage as of September 30, 2016 As of September 30, 2016 As of June 30, 2016 (in millions) Sky (a)(b) European direct broadcast satellite operator 39% $ 3,024 $ 2,972 Endemol Shine Group (b) Global multi-platform content provider 50% 414 445 Other investments various 474 446 Total investments $ 3,912 $ 3,863 (a) The Company’s investment in Sky plc (“Sky”) had a market value of $7.8 billion as of September 30, 2016 determined using its quoted market price on the London Stock Exchange (a Level 1 measurement as defined in Note 5 – Fair Value). (b) Equity method investment. Hulu In August 2016, Hulu, LLC (“Hulu”) issued a 10% equity interest to a new investor thereby diluting the Company’s ownership to 30%. For a period of up to 36 months, under certain limited circumstances, including those arising from regulatory review, the new investor may put its shares to Hulu or Hulu may call the shares from the new investor. If Hulu is required to fund the repurchase of shares from the new investor, the Company has agreed to make an additional capital contribution of up to approximately $300 million to Hulu.

Fair Value

Fair Value	3 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value	NOTE 5. FAIR VALUE In accordance with ASC 820, “Fair Value Measurement,” fair value measurements are required to be disclosed using a three-tiered fair value hierarchy which distinguishes market participant assumptions into the following categories: (i) inputs that are quoted prices in active markets (“Level 1”); (ii) inputs other than quoted prices included within Level 1 that are observable, including quoted prices for similar assets or liabilities (“Level 2”); and (iii) inputs that require the entity to use its own assumptions about market participant assumptions (“Level 3”). The tables below present information about financial assets and liabilities carried at fair value on a recurring basis. As of September 30, 2016 and June 30, 2016, there were no assets or liabilities in the Level 1 category. Fair value measurements As of September 30, 2016 Description Total Level 2 Level 3 (in millions) Assets Derivatives (a) $ 3 $ 3 $ - Liabilities Derivatives (a) (35 ) (35 ) - Contingent consideration (b) (3 ) - (3 ) Redeemable noncontrolling interests (c) (553 ) - (553 ) Total $ (588 ) $ (32 ) $ (556 ) As of June 30, 2016 Description Total Level 2 Level 3 (in millions) Assets Derivatives (a) $ 6 $ 6 $ - Liabilities Derivatives (a) (50 ) (50 ) - Contingent consideration (b) (36 ) - (36 ) Redeemable noncontrolling interests (c) (552 ) - (552 ) Total $ (632 ) $ (44 ) $ (588 ) (a) Represents derivatives associated with the Company’s foreign currency forward contracts and interest rate swap contracts. (b) Represents contingent consideration related to past acquisitions. (c) The Company accounts for redeemable noncontrolling interests in accordance with ASC 480-10-S99-3A, “Distinguishing Liabilities from Equity” (“ASC 480-10-S99-3A”), because their exercise is outside the control of the Company. The redeemable noncontrolling interests recorded at fair value are put arrangements held by the noncontrolling interests in certain of the Company’s majority-owned sports networks. The Company utilizes the market, income or cost approaches or a combination of these valuation techniques for its Level 3 fair value measures, using observable inputs such as market data obtained from independent sources. To the extent observable inputs are not available, the Company utilizes unobservable inputs based upon the assumptions market participants would use in valuing the asset (liability). As of September 30, 2016, one minority shareholder’s put right will become exercisable in March 2017 and one minority shareholder’s put right will become exercisable in July 2017. The remaining redeemable noncontrolling interests are currently not exercisable. Financial Instruments The carrying value of the Company’s financial instruments, such as cash and cash equivalents, receivables, payables and cost method investments, approximates fair value. As of September 30, 2016 As of June 30, 2016 (in millions) Borrowings Fair value $ 23,977 $ 23,986 Carrying value $ 19,488 $ 19,553 Fair value is generally determined by reference to market values resulting from trading on a national securities exchange or in an over-the-counter market (a Level 1 measurement). Foreign Currency Forward Contracts The Company uses foreign currency forward contracts primarily to hedge certain exposures to foreign currency exchange rate risks associated with revenues and the cost of producing or acquiring films and television programming. As of September 30, 2016 As of June 30, 2016 (in millions) Cash flow hedges Notional amount $ 280 $ 409 Fair value $ (19 ) $ (25 ) For foreign currency forward contracts designated as cash flow hedges, the Company expects to reclassify the cumulative changes in fair values, included in Accumulated other comprehensive loss, within the next three years. As of September 30, 2016 As of June 30, 2016 (in millions) Economic hedges Notional amount $ 84 $ 44 Fair value $ - $ - Interest Rate Swap Contracts The Company uses interest rate swap contracts to hedge certain exposures to interest rate risks associated with certain borrowings. As of September 30, 2016 As of June 30, 2016 (in millions) Cash flow hedges Notional amount $ 695 $ 701 Fair value $ (13 ) $ (19 ) For interest rate swap contracts designated as cash flow hedges, the Company expects to reclassify the cumulative changes in fair values, included in Accumulated other comprehensive loss, within the next three years. Concentrations of Credit Risk Cash and cash equivalents are maintained with several financial institutions. The Company has deposits held with banks that exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions of reputable credit and, therefore, bear minimal credit risk. The Company’s receivables did not represent significant concentrations of credit risk as of September 30, 2016 or June 30, 2016 due to the wide variety of customers, markets and geographic areas to which the Company’s products and services are sold. The Company monitors its positions with, and the credit quality of, the financial institutions which are counterparties to its financial instruments. The Company is exposed to credit loss in the event of nonperformance by the counterparties to the agreements. As of September 30, 2016, the Company did not anticipate nonperformance by any of the counterparties.

Borrowings

Borrowings	3 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Borrowings	NOTE 6. BORROWINGS Description As of September 30, 2016 As of June 30, 2016 (in millions) Bank loans $ 1,378 $ 1,446 Public debt - Predecessor indentures 10,579 10,579 - Senior notes issued under August 2009 indenture 7,700 7,700 Total public debt 18,279 18,279 Total principal amount 19,657 19,725 Less: unamortized discount and debt issuance costs (a) (169 ) (172 ) Total borrowings 19,488 19,553 Less: current borrowings (454 ) (427 ) Non-current borrowings $ 19,034 $ 19,126 (a) The adoption of ASU 2015-03 resulted in a $172 million decrease in Other non-current assets and Non-current Borrowings in the Consolidated Balance Sheet as of June 30, 2016. Current Borrowings Included in Borrowings within Current liabilities as of September 30, 2016 was $400 million of 8.00% Senior Notes which were retired in October 2016 and principal payments on the Yankees Entertainment and Sports Network term loan facility of $54 million that are due in the next 12 months.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Sep. 30, 2016
Stockholders Equity Note [Abstract]
Stockholders' Equity	NOTE 7. STOCKHOLDERS’ EQUITY The following table summarizes changes in stockholders’ equity: For the three months ended September 30, 2016 2015 Twenty-First Century Fox stockholders Noncontrolling interests Total equity Twenty-First Century Fox stockholders Noncontrolling interests Total equity (in millions) Balance, beginning of period $ 13,661 $ 1,220 $ 14,881 $ 17,220 $ 966 $ 18,186 Net income 821 40 (a) 861 675 34 (a) 709 Other comprehensive (loss) income (41 ) 1 (40 ) (149 ) - (149 ) Cancellation of shares, net (390 ) - (390 ) (1,826 ) - (1,826 ) Dividends declared (335 ) - (335 ) (299 ) - (299 ) Other 91 (13 ) (b) 78 (340 ) (26 ) (b) (366 ) Balance, end of period $ 13,807 $ 1,248 $ 15,055 $ 15,281 $ 974 $ 16,255 (a) Net income attributable to noncontrolling interests excludes $27 million and $28 million for the three months ended September 30, 2016 and 2015, respectively, relating to redeemable noncontrolling interests which are reflected in temporary equity. (b) Other activity attributable to noncontrolling interests excludes $(26) million and $(33) million for the three months ended September 30, 2016 and 2015, respectively, relating to redeemable noncontrolling interests. Comprehensive Income Comprehensive income is reported in the Unaudited Consolidated Statements of Comprehensive Income and consists of Net income and Other comprehensive income (loss), including foreign currency translation adjustments, losses and gains on cash flow hedges, unrealized holding gains and losses on securities, benefit plan adjustments and the Company’s share of other comprehensive income of equity method investees, which affect stockholders’ equity, and under GAAP, are excluded from Net income. The following table summarizes the activity within Other comprehensive income (loss): For the three months ended September 30, 2016 2015 Before tax Tax (provision) benefit Net of tax Before tax Tax (provision) benefit Net of tax (in millions) Foreign currency translation adjustments Unrealized gains (losses) $ 2 $ - $ 2 $ (67 ) $ 1 $ (66 ) Other comprehensive income (loss) $ 2 $ - $ 2 $ (67 ) $ 1 $ (66 ) Cash flow hedges Unrealized gains $ 11 $ (4 ) $ 7 $ 1 $ - $ 1 Amount reclassified on hedging activity (a) 2 (1 ) 1 3 - 3 Other comprehensive income $ 13 $ (5 ) $ 8 $ 4 $ - $ 4 Losses on securities Amount reclassified on sale of securities (b) $ - $ - $ - $ (7 ) $ 3 $ (4 ) Other comprehensive loss $ - $ - $ - $ (7 ) $ 3 $ (4 ) Benefit plan adjustments Unrealized losses $ - $ - $ - $ (2 ) $ - $ (2 ) Reclassification adjustments realized in net income (c) 14 (5 ) 9 9 (3 ) 6 Other comprehensive income $ 14 $ (5 ) $ 9 $ 7 $ (3 ) $ 4 Equity method investments Unrealized losses and reclassifications $ (67 ) $ 8 $ (59 ) $ (102 ) $ 15 $ (87 ) Other comprehensive loss $ (67 ) $ 8 $ (59 ) $ (102 ) $ 15 $ (87 ) (a) Reclassifications of amounts related to hedging activity are included in Revenues, Operating expenses, Selling, general and administrative expenses, Interest expense, net or Other, net, as appropriate, in the Unaudited Consolidated Statements of Operations for the three months ended September 30, 2016 and 2015 (See Note 5 – Fair Value for additional information regarding hedging activity). (b) Reclassifications of amounts related to gains and losses on securities are included in Other, net in the (c) Reclassifications of amounts related to benefit plan adjustments are included in Selling, general and administrative expenses in the Unaudited Consolidated Statements of Operations for the three months ended September 30, 2016 and 2015. Earnings Per Share Data The following table sets forth the Company’s computation of Income from continuing operations attributable to Twenty-First Century Fox stockholders: For the three months ended September 30, 2016 2015 (in millions) Income from continuing operations $ 894 $ 740 Less: Net income attributable to noncontrolling interests (67 ) (62 ) Income from continuing operations attributable to Twenty-First Century Fox stockholders $ 827 $ 678 Stock Repurchase Program The Company’s Board of Directors (the “Board”) has authorized a stock repurchase program, under which the Company is authorized to acquire Class A Common Stock. In August 2016, the Board authorized the repurchase of an additional $3 billion of Class A Common Stock, excluding commissions. The Company does not have a timeframe over which this buyback authorization is expected to be completed. The program may be modified, extended, suspended or discontinued at any time. As of September 30, 2016, the Company’s remaining buyback authorization was approximately $3.2 billion representing approximately $240 million under the fiscal 2016 authorization and $3 billion under the fiscal 2017 authorization. Dividends The following table summarizes the dividends declared per share on both the Company’s Class A Common Stock and the Class B Common Stock: For the three months ended September 30, 2016 2015 Cash dividend per share $ 0.180 $ 0.150 The Company declared a dividend of $0.180 per share on both the Class A Common Stock and Class B Common Stock in the three months ended September 30, 2016, which was paid in October 2016 to stockholders of record on September 14, 2016. Elimination of Suspension of Voting Rights Affecting Non-U.S. Stockholders The Company owns broadcast station licensees in connection with its ownership and operation of U.S. television stations. Under U.S. law, no broadcast station licensee may be owned by a corporation if more than 25% of its stock is owned or voted by non-U.S. persons, their representatives, or by any other corporation organized under the laws of a foreign country. In order to maintain compliance with U.S. law, the Company had suspended 10% of the voting rights of the Class B Common Stock held by non-U.S. stockholders. In August 2016, the Company eliminated the suspension of voting rights of shares of Class B Common Stock and remains in compliance with applicable U.S. law. On April 18, 2012, the Murdoch Family Trust and K. Rupert Murdoch (together the “Murdoch Family Interests”) entered into an agreement with the Company, whereby the Murdoch Family Interests agreed to limit their voting rights during the voting rights suspension period. As a result of the elimination of the suspension, and unless a suspension of voting rights of the Class B Common Stock is reinstated, the voting rights of the Murdoch Family Interests will no longer be limited in accordance with the agreement. The Company will continue to monitor the Company’s foreign ownership based on its assessment of the information reasonably available to it.

Equity-Based Compensation

Equity-Based Compensation	3 Months Ended
	Sep. 30, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Equity-Based Compensation	NOTE 8. EQUITY-BASED COMPENSATION The following table summarizes the Company’s equity-based compensation activity: For the three months ended September 30, 2016 2015 (in millions) Equity-based compensation $ 42 $ 90 Intrinsic value of all settled equity-based awards $ 69 $ 190 Tax benefit on vested equity-based awards $ 25 $ 69 As of September 30, 2016, the Company’s total estimated compensation cost related to equity-based awards, not yet recognized, was approximately $200 million, and is expected to be recognized over a weighted average period between one and two years. Compensation expense on all equity-based awards is generally recognized on a straight-line basis over the vesting period of the entire award. Performance Stock Units The Company’s stock based awards are granted in Class A Common Stock. During the three months ended September 30, 2016, approximately 6.1 million performance stock units (“PSUs”) were granted and approximately 2.6 million PSUs vested. During the three months ended September 30, 2015, approximately 6.1 million PSUs were granted and approximately 5.9 million PSUs vested.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Sep. 30, 2016
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 9. COMMITMENTS AND CONTINGENCIES Commitments The Company has commitments under certain firm contractual arrangements (“firm commitments”) to make future payments. These firm commitments secure the future rights to various assets and services to be used in the normal course of operations. The total firm commitments and future debt payments as of September 30, 2016 have not changed significantly from disclosures included in the 2016 Form 10-K. Contingent Guarantees The Company’s contingent guarantees as of September 30, 2016 have not changed significantly from disclosures included in the 2016 Form 10-K. In addition, the Company is party to a capital funding agreement related to Hulu (See Note 4 – Investments under the heading “Hulu”). Contingencies Shareholder Litigation Southern District of New York On July 19, 2011, a purported class action lawsuit captioned Wilder v. News Corp., et al. (“Wilder Litigation”), was filed on behalf of all purchasers of the Company’s common stock between March 3, 2011 and July 11, 2011, in the United States District Court for the Southern District of New York. The plaintiff brought claims under Section 10(b) and Section 20(a) of the Securities Exchange Act, alleging that false and misleading statements were issued regarding the alleged acts of voicemail interception at The News of the World Other Equity purchase arrangements that are exercisable by the counter-party to the agreement, and that are outside the sole control of the Company, are accounted for in accordance with ASC 480-10-S99-3A and are classified as Redeemable noncontrolling interests in the Consolidated Balance Sheets. Other than the arrangements classified as Redeemable noncontrolling interests, the Company is also a party to several other purchase and sale arrangements which become exercisable at various points in time. However, these arrangements are currently either not exercisable in the next twelve months or are not material. The Company establishes an accrued liability for legal claims when the Company determines that a loss is both probable and the amount of the loss can be reasonably estimated. Once established, accruals are adjusted from time to time, as appropriate, in light of additional information. The amount of any loss ultimately incurred in relation to matters for which an accrual has been established may be higher or lower than the amounts accrued for such matters. Any fees, expenses, fines, penalties, judgments or settlements which might be incurred by the Company in connection with the various proceedings could affect the Company’s results of operations and financial condition. The Company’s operations are subject to tax in various domestic and international jurisdictions and as a matter of course, the Company is regularly audited by federal, state and foreign tax authorities. The Company believes it has appropriately accrued for the expected outcome of all pending tax matters and does not currently anticipate that the ultimate resolution of pending tax matters will have a material adverse effect on its consolidated financial condition, future results of operations or liquidity.

Segment Information

Segment Information	3 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segment Information	NOTE 10. SEGMENT INFORMATION The Company is a diversified global media and entertainment company, which manages and reports its businesses in the following four segments: • Cable Network Programming , which principally consists of the production and licensing of programming distributed primarily through cable television systems, direct broadcast satellite operators, telecommunication companies and online video distributors in the U.S. and internationally. • Television , which principally consists of the broadcasting of network programming in the U.S. and the operation of 28 full power broadcast television stations, including 11 duopolies, in the U.S. (of these stations, 17 are affiliated with the FOX Broadcasting Company (“FOX”), 9 are affiliated with Master Distribution Service, Inc. (“MyNetworkTV”), one is affiliated with both The CW Television Network and MyNetworkTV and one is an independent station). • Filmed Entertainment , which principally consists of the production and acquisition of live-action and animated motion pictures for distribution and licensing in all formats in all entertainment media worldwide, and the production and licensing of television programming worldwide. • Other, Corporate and Eliminations, which principally consists of corporate overhead and eliminations and other businesses. The Company’s operating segments have been determined in accordance with the Company’s internal management structure, which is organized based on operating activities. The Company evaluates performance based upon several factors, of which the primary financial measure is Segment OIBDA. Due to the integrated nature of these operating segments, estimates and judgments are made in allocating certain assets, revenues and expenses. Segment OIBDA is defined as Revenues less Operating expenses and Selling, general and administrative expenses. Segment OIBDA does not include: Amortization of cable distribution investments, Depreciation and amortization, Equity earnings of affiliates, Interest expense, net, Interest income, Other, net, Income tax expense, Loss from discontinued operations, net of tax and Net income attributable to noncontrolling interests. Management believes that Segment OIBDA is an appropriate measure for evaluating the operating performance of the Company’s business segments because it is the primary measure used by the Company’s chief operating decision maker to evaluate the performance of and allocate resources to the Company’s businesses. Management believes that information about Total Segment OIBDA assists all users of the Company’s Unaudited Consolidated Financial Statements by allowing them to evaluate changes in the operating results of the Company’s portfolio of businesses separate from non-operational factors that affect net income, thus providing insight into both operations and the other factors that affect reported results. Total Segment OIBDA provides management, investors and equity analysts a measure to analyze the operating performance of the Company’s business and its enterprise value against historical data and competitors’ data, although historical results, including Segment OIBDA and Total Segment OIBDA, may not be indicative of future results (as operating performance is highly contingent on many factors, including customer tastes and preferences). Total Segment OIBDA may be considered a non-GAAP measure and should be considered in addition to, not as a substitute for, net income, cash flow and other measures of financial performance reported in accordance with GAAP. In addition, this measure does not reflect cash available to fund requirements and excludes items, such as depreciation and amortization and impairment charges, which are significant components in assessing the Company’s financial performance. For the three months ended September 30, 2016 2015 (in millions) Revenues: Cable Network Programming $ 3,810 $ 3,464 Television 1,038 1,049 Filmed Entertainment 1,907 1,785 Other, Corporate and Eliminations (249 ) (221 ) Total revenues $ 6,506 $ 6,077 Segment OIBDA: Cable Network Programming $ 1,384 $ 1,306 Television 191 196 Filmed Entertainment 311 149 Other, Corporate and Eliminations (95 ) (116 ) Total Segment OIBDA $ 1,791 $ 1,535 Amortization of cable distribution investments (15 ) (20 ) Depreciation and amortization (135 ) (128 ) Equity earnings of affiliates 35 35 Interest expense, net (300 ) (295 ) Interest income 9 9 Other, net (148 ) (83 ) Income from continuing operations before income tax expense 1,237 1,053 Income tax expense (343 ) (313 ) Income from continuing operations 894 740 Loss from discontinued operations, net of tax (6 ) (3 ) Net income 888 737 Less: Net income attributable to noncontrolling interests (67 ) (62 ) Net income attributable to Twenty-First Century Fox stockholders $ 821 $ 675 Intersegment revenues, generated by the Filmed Entertainment segment, of $233 million and $170 million for the three months ended September 30, 2016 and 2015, respectively, have been eliminated within the Other, Corporate and Eliminations segment. For the three months ended September 30, 2016 2015 (in millions) Depreciation and amortization: Cable Network Programming $ 82 $ 74 Television 29 30 Filmed Entertainment 20 20 Other, Corporate and Eliminations 4 4 Total depreciation and amortization $ 135 $ 128 Depreciation and amortization includes the amortization of definite lived intangible assets of $66 million and $59 million he three months ended September 30, 2016 and 2015, respectively. As of September 30, 2016 As of June 30, 2016 (in millions) Assets: Cable Network Programming $ 24,995 $ 24,974 Television 7,249 6,959 Filmed Entertainment 9,826 9,579 Other, Corporate and Eliminations 2,644 2,818 Investments 3,912 3,863 Total assets $ 48,626 $ 48,193 Revenues by Component For the three months ended September 30, 2016 2015 (in millions) Revenues: Affiliate fees $ 2,923 $ 2,686 Advertising 1,591 1,599 Content 1,869 1,725 Other 123 67 Total revenues $ 6,506 $ 6,077

Additional Financial Informatio

Additional Financial Information	3 Months Ended
	Sep. 30, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Additional Financial Information	NOTE 11. ADDITIONAL FINANCIAL INFORMATION Other, net For the three months ended September 30, 2016, the Company recorded a loss of $148 million in Other, net, comprised of approximately $110 million of costs in connection with management and employee transitions and restructuring at several of the Company’s business units and approximately $35 million of costs related to settlements of pending and potential litigations following the July 2016 resignation of the Chairman and CEO of Fox News Channel after a public complaint was filed containing allegations of sexual harassment. For the three months ended September 30, 2015, the Company recorded a loss of $83 million in Other, net primarily due to the revision of a contingency estimate related to a past acquisition. Receivables, net Receivables are presented net of an allowance for returns and doubtful accounts, which is an estimate of amounts that may not be collectible. Allowances for returns and doubtful accounts as of September 30, 2016 and June 30, 2016 were $499 million and $576 million, respectively. Supplemental Cash Flows Information For the three months ended September 30, 2016 2015 (in millions) Supplemental cash flows information: Cash paid for income taxes $ (95 ) $ (89 ) Cash paid for interest $ (292 ) $ (292 )

Supplemental Guarantor Informat

Supplemental Guarantor Information	3 Months Ended
	Sep. 30, 2016
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Supplemental Guarantor Information	TWENTY-FIRST CENTURY FOX, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS NOTE 12. SUPPLEMENTAL GUARANTOR INFORMATION In May 2015, 21st Century Fox America, Inc. (“21CFA”) entered into a credit agreement (the “Credit Agreement”), among 21CFA as Borrower, the Company as Parent Guarantor and other parties. The Credit Agreement provides a $1.4 billion unsecured revolving credit facility with a sub-limit of $250 million (or its equivalent in Euros) available for the issuance of letters of credit and a maturity date of May 2020. The Parent Guarantor presently guarantees the senior public indebtedness of 21CFA and the guarantee is full and unconditional. The supplemental condensed consolidating financial information of the Parent Guarantor should be read in conjunction with these Unaudited Consolidated Financial Statements. In accordance with rules and regulations of the SEC, the Company uses the equity method to account for the results of all of the non-guarantor subsidiaries, representing substantially all of the Company’s consolidated results of operations, excluding certain intercompany eliminations. The following condensed consolidating financial statements present the results of operations, financial position and cash flows of 21CFA, the Company and the subsidiaries of the Company and the eliminations and reclassifications necessary to arrive at the information for the Company on a consolidated basis. TWENTY-FIRST CENTURY FOX, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS Supplemental Condensed Consolidating Statement of Operations For the three months ended September 30, 2016 (in millions) 21st Fox America, Inc. Twenty-First Century Fox Non-Guarantor Reclassifications and Eliminations Twenty-First Century Fox and Subsidiaries Revenues $ - $ - $ 6,506 $ - $ 6,506 Expenses (89 ) - (4,776 ) - (4,865 ) Equity (losses) earnings of affiliates (1 ) - 36 - 35 Interest expense, net (412 ) (188 ) (19 ) 319 (300 ) Interest income 1 - 327 (319 ) 9 Earnings from subsidiary entities 1,615 1,015 - (2,630 ) - Other, net (74 ) - (74 ) - (148 ) Income from continuing operations before income tax expense 1,040 827 2,000 (2,630 ) 1,237 Income tax expense (288 ) - (554 ) 499 (343 ) Income from continuing operations 752 827 1,446 (2,131 ) 894 Loss from discontinued operations, net of tax - (6 ) - - (6 ) Net income 752 821 1,446 (2,131 ) 888 Less: Net income attributable to noncontrolling interests - - (67 ) - (67 ) Net income attributable to Twenty-First Century Fox stockholders $ 752 $ 821 $ 1,379 $ (2,131 ) $ 821 Comprehensive income attributable to Twenty-First Century Fox stockholders $ 668 $ 780 $ 1,360 $ (2,028 ) $ 780 See notes to supplemental guarantor information TWENTY-FIRST CENTURY FOX, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS Supplemental Condensed Consolidating Statement of Operations For the three months ended September 30, 2015 (in millions) 21st Century Fox America, Inc. Twenty-First Century Fox Non-Guarantor Reclassifications and Eliminations Twenty-First Century Fox and Subsidiaries Revenues $ - $ - $ 6,077 $ - $ 6,077 Expenses (106 ) - (4,584 ) - (4,690 ) Equity (losses) earnings of affiliates (1 ) - 36 - 35 Interest expense, net (398 ) (176 ) (20 ) 299 (295 ) Interest income - 2 306 (299 ) 9 Earnings from subsidiary entities 1,452 852 - (2,304 ) - Other, net 13 - (96 ) - (83 ) Income from continuing operations before income tax expense 960 678 1,719 (2,304 ) 1,053 Income tax expense (285 ) - (511 ) 483 (313 ) Income from continuing operations 675 678 1,208 (1,821 ) 740 Loss from discontinued operations, net of tax - (3 ) - - (3 ) Net income 675 675 1,208 (1,821 ) 737 Less: Net income attributable to noncontrolling interests - - (62 ) - (62 ) Net income attributable to Twenty-First Century Fox stockholders $ 675 $ 675 $ 1,146 $ (1,821 ) $ 675 Comprehensive income attributable to Twenty-First Century Fox stockholders $ 485 $ 526 $ 887 $ (1,372 ) $ 526 See notes to supplemental guarantor information TWENTY-FIRST CENTURY FOX, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS Supplemental Condensed Consolidating Balance Sheet As of September 30, 2016 (in millions) 21st Century Fox America, Inc. Twenty-First Century Fox Non-Guarantor Reclassifications and Eliminations Twenty-First Century Fox and Subsidiaries ASSETS Current assets: Cash and cash equivalents $ 510 $ 2,240 $ 1,931 $ - $ 4,681 Receivables, net 23 - 6,077 (1 ) 6,099 Inventories, net - - 3,300 - 3,300 Other 45 - 796 - 841 Total current assets 578 2,240 12,104 (1 ) 14,921 Non-current assets: Receivables, net 15 - 450 - 465 Inventories, net - - 7,396 - 7,396 Property, plant and equipment, net 212 - 1,457 - 1,669 Intangible assets, net - - 6,715 - 6,715 Goodwill - - 12,739 - 12,739 Other non-current assets 239 - 570 - 809 Investments: Investments in associated companies and other investments 165 37 3,710 - 3,912 Intragroup investments 100,584 56,936 - (157,520 ) - Total investments 100,749 56,973 3,710 (157,520 ) 3,912 TOTAL ASSETS $ 101,793 $ 59,213 $ 45,141 $ (157,521 ) $ 48,626 LIABILITIES AND EQUITY Current liabilities: Borrowings $ 400 $ - $ 54 $ - $ 454 Other current liabilities 482 426 6,061 (1 ) 6,968 Total current liabilities 882 426 6,115 (1 ) 7,422 Non-current liabilities: Borrowings 17,715 - 1,319 - 19,034 Other non-current liabilities 619 - 5,943 - 6,562 Intercompany 38,350 44,980 (83,330 ) - - Redeemable noncontrolling interests - - 553 - 553 Total equity 44,227 13,807 114,541 (157,520 ) 15,055 TOTAL LIABILITIES AND EQUITY $ 101,793 $ 59,213 $ 45,141 $ (157,521 ) $ 48,626 See notes to supplemental guarantor information TWENTY-FIRST CENTURY FOX, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS Supplemental Condensed Consolidating Balance Sheet As of June 30, 2016 (in millions) 21st Century Fox America, Inc. Twenty-First Century Fox Non-Guarantor Reclassifications and Eliminations Twenty-First Century Fox and Subsidiaries ASSETS Current assets: Cash and cash equivalents $ 661 $ 2,019 $ 1,744 $ - $ 4,424 Receivables, net 20 - 6,239 (1 ) 6,258 Inventories, net - - 3,291 - 3,291 Other 13 - 963 - 976 Total current assets 694 2,019 12,237 (1 ) 14,949 Non-current assets: Receivables, net 15 - 374 - 389 Inventories, net - - 7,041 - 7,041 Property, plant and equipment, net 213 - 1,479 - 1,692 Intangible assets, net - - 6,777 - 6,777 Goodwill - - 12,733 - 12,733 Other non-current assets 235 - 514 - 749 Investments: Investments in associated companies and other investments 137 37 3,689 - 3,863 Intragroup investments 98,965 55,895 - (154,860 ) - Total investments 99,102 55,932 3,689 (154,860 ) 3,863 TOTAL ASSETS $ 100,259 $ 57,951 $ 44,844 $ (154,861 ) $ 48,193 LIABILITIES AND EQUITY Current liabilities: Borrowings $ 400 $ - $ 27 $ - $ 427 Other current liabilities 489 144 6,009 (1 ) 6,641 Total current liabilities 889 144 6,036 (1 ) 7,068 Non-current liabilities: Borrowings 17,712 - 1,414 - 19,126 Other non-current liabilities 605 - 5,961 - 6,566 Intercompany 37,838 44,146 (81,984 ) - - Redeemable noncontrolling interests - - 552 - 552 Total equity 43,215 13,661 112,865 (154,860 ) 14,881 TOTAL LIABILITIES AND EQUITY $ 100,259 $ 57,951 $ 44,844 $ (154,861 ) $ 48,193 See notes to supplemental guarantor information TWENTY-FIRST CENTURY FOX, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS Supplemental Condensed Consolidating Statement of Cash Flows For the three months ended September 30, 2016 (in millions) 21st Fox America, Inc. Twenty-First Century Fox Non-Guarantor Reclassifications and Eliminations Twenty-First Century Fox and Subsidiaries Operating activities: Net cash (used in) provided by operating activities from continuing operations $ (114 ) $ 708 $ 386 $ - $ 980 Investing activities: Property, plant and equipment (3 ) - (50 ) - (53 ) Investments (28 ) - (41 ) - (69 ) Net cash used in investing activities from continuing operations (31 ) - (91 ) - (122 ) Financing activities: Borrowings - - 37 - 37 Repayment of borrowings - - (105 ) - (105 ) Repurchase of shares - (467 ) - - (467 ) Dividends paid and distributions - - (54 ) - (54 ) Other financing activities, net - (20 ) 1 - (19 ) Net cash used in financing activities from continuing operations - (487 ) (121 ) - (608 ) Discontinued operations: Net decrease in cash and cash equivalents from discontinued operations (6 ) - - - (6 ) Net (decrease) increase in cash and cash equivalents (151 ) 221 174 - 244 Cash and cash equivalents, beginning of year 661 2,019 1,744 - 4,424 Exchange movement on cash balances - - 13 - 13 Cash and cash equivalents, end of period $ 510 $ 2,240 $ 1,931 $ - $ 4,681 See notes to supplemental guarantor information TWENTY-FIRST CENTURY FOX, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS Supplemental Condensed Consolidating Statement of Cash Flows For the three months ended September 30, 2015 (in millions) 21st Century Fox America, Inc. Twenty-First Century Fox Non-Guarantor Reclassifications and Eliminations Twenty-First Century Fox and Subsidiaries Operating activities: Net cash provided by (used in) operating activities from continuing operations $ 162 $ (202 ) $ (265 ) $ - $ (305 ) Investing activities: Property, plant and equipment (2 ) - (32 ) - (34 ) Investments (156 ) (2 ) (91 ) - (249 ) Net cash used in investing activities from continuing operations (158 ) (2 ) (123 ) - (283 ) Financing activities: Borrowings - - 91 - 91 Repayment of borrowings - - (119 ) - (119 ) Repurchase of shares - (1,889 ) - - (1,889 ) Dividends paid and distributions - - (56 ) - (56 ) Other financing activities, net - 11 (3 ) - 8 Net cash used in financing activities from continuing operations - (1,878 ) (87 ) - (1,965 ) Discontinued operations: Net decrease in cash and cash equivalents from discontinued operations (7 ) - - - (7 ) Net decrease in cash and cash equivalents (3 ) (2,082 ) (475 ) - (2,560 ) Cash and cash equivalents, beginning of year 767 5,913 1,748 - 8,428 Exchange movement on cash balances - - (38 ) - (38 ) Cash and cash equivalents, end of period $ 764 $ 3,831 $ 1,235 $ - $ 5,830 See notes to supplemental guarantor information TWENTY-FIRST CENTURY FOX, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS Notes to Supplemental Guarantor Information (1) Investments in the Company’s subsidiaries, for purposes of the supplemental consolidating presentation, are accounted for by their parent companies under the equity method of accounting whereby earnings of subsidiaries are reflected in the respective parent company’s investment account and earnings. (2) The guarantees of 21CFA’s senior public indebtedness constitute senior indebtedness of the Company, and rank pari passu with all present and future senior indebtedness of the Company. Because the factual basis underlying the obligations created pursuant to the various facilities and other obligations constituting senior indebtedness of the Company differ, it is not possible to predict how a court in bankruptcy would accord priorities among the obligations of the Company.

Summary of Significant Accounti

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Principles of Consolidation	The Unaudited Consolidated Financial Statements include the accounts of Twenty-First Century Fox. All significant intercompany accounts and transactions have been eliminated in consolidation, including the intercompany portion of transactions with equity method investees
Investments	Investments in and advances to entities or joint ventures in which the Company has significant influence, but less than a controlling voting interest, are accounted for using the equity method. Investments in which the Company has no significant influence are designated as available-for-sale investments if readily determinable market values are available. If an investment’s fair value is not readily determinable, the Company accounts for its investment at cost.
Use of Estimates	The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts that are reported in the consolidated financial statements and accompanying disclosures. Actual results may differ from those estimates.
Reclassifications and Adjustments	Certain fiscal 2016 amounts have been reclassified to conform to the fiscal 2017 presentation. Unless indicated otherwise, the information in the notes to the Unaudited Consolidated Financial Statements relates to the Company’s continuing operations.
Recently Adopted and Recently Issued Accounting Guidance	Recently Adopted and Recently Issued Accounting Guidance Adopted In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-03, “Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs” (“ASU 2015-03”). To simplify the presentation of debt issuance costs, ASU 2015-03 requires debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. On July 1, 2016, the Company adopted ASU 2015-03 on a retrospective basis (See Note 6 – Borrowings). Issued In August 2016, the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” (“ASU 2016-15”). ASU 2016-15 addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. ASU 2016-15 is effective for the Company for annual and interim reporting periods beginning July 1, 2018. The Company is currently evaluating the impact ASU 2016-15 will have on its consolidated financial statements.
Concentrations of Credit Risk	Concentrations of Credit Risk Cash and cash equivalents are maintained with several financial institutions. The Company has deposits held with banks that exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions of reputable credit and, therefore, bear minimal credit risk. The Company’s receivables did not represent significant concentrations of credit risk as of September 30, 2016 or June 30, 2016 due to the wide variety of customers, markets and geographic areas to which the Company’s products and services are sold. The Company monitors its positions with, and the credit quality of, the financial institutions which are counterparties to its financial instruments. The Company is exposed to credit loss in the event of nonperformance by the counterparties to the agreements. As of September 30, 2016, the Company did not anticipate nonperformance by any of the counterparties.
Receivables, Net	Receivables are presented net of an allowance for returns and doubtful accounts, which is an estimate of amounts that may not be collectible.

Inventories, Net (Tables)

Inventories, Net (Tables)	3 Months Ended
	Sep. 30, 2016
Inventory Disclosure [Abstract]
Schedule of Inventories, Net	The Company’s inventories were comprised of the following: As of September 30, 2016 As of June 30, 2016 (in millions) Programming rights and other (a) $ 6,601 $ 6,359 Filmed entertainment costs: Films: Released or completed 1,562 1,569 In production 789 825 In development or preproduction 236 196 - 2,587 2,590 Television productions: Released 931 1,067 In production, development or preproduction 577 316 1,508 1,383 Total filmed entertainment costs, less accumulated amortization (b) 4,095 3,973 Total inventories, net 10,696 10,332 Less: current portion of inventories, net (c) (3,300 ) (3,291 ) Total non-current inventories, net $ 7,396 $ 7,041 (a) Other includes DVDs, Blu-rays and other merchandise. (b) Does not include $265 million and $273 million of net intangible film library costs as of September 30, 2016 and June 30, 2016, respectively, which were included in intangible assets subject to amortization in the Consolidated Balance Sheets. (c) Current portion of inventories, net as of September 30, 2016 and June 30, 2016 was comprised of programming rights ($3,198 million and $3,212 million, respectively), DVDs, Blu-rays and other merchandise.

Investments (Tables)

Investments (Tables)	3 Months Ended
	Sep. 30, 2016
Investments [Abstract]
Schedule of Investments	The Company’s investments were comprised of the following: Ownership percentage as of September 30, 2016 As of September 30, 2016 As of June 30, 2016 (in millions) Sky (a)(b) European direct broadcast satellite operator 39% $ 3,024 $ 2,972 Endemol Shine Group (b) Global multi-platform content provider 50% 414 445 Other investments various 474 446 Total investments $ 3,912 $ 3,863 (a) The Company’s investment in Sky plc (“Sky”) had a market value of $7.8 billion as of September 30, 2016 determined using its quoted market price on the London Stock Exchange (a Level 1 measurement as defined in Note 5 – Fair Value). (b) Equity method investment.

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Sep. 30, 2016
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair Value of Financial Assets (Liabilities) and the Level Used to Measure Them	The tables below present information about financial assets and liabilities carried at fair value on a recurring basis. As of September 30, 2016 and June 30, 2016, there were no assets or liabilities in the Level 1 category. Fair value measurements As of September 30, 2016 Description Total Level 2 Level 3 (in millions) Assets Derivatives (a) $ 3 $ 3 $ - Liabilities Derivatives (a) (35 ) (35 ) - Contingent consideration (b) (3 ) - (3 ) Redeemable noncontrolling interests (c) (553 ) - (553 ) Total $ (588 ) $ (32 ) $ (556 ) As of June 30, 2016 Description Total Level 2 Level 3 (in millions) Assets Derivatives (a) $ 6 $ 6 $ - Liabilities Derivatives (a) (50 ) (50 ) - Contingent consideration (b) (36 ) - (36 ) Redeemable noncontrolling interests (c) (552 ) - (552 ) Total $ (632 ) $ (44 ) $ (588 ) (a) Represents derivatives associated with the Company’s foreign currency forward contracts and interest rate swap contracts. (b) Represents contingent consideration related to past acquisitions. (c) The Company accounts for redeemable noncontrolling interests in accordance with ASC 480-10-S99-3A, “Distinguishing Liabilities from Equity” (“ASC 480-10-S99-3A”), because their exercise is outside the control of the Company. The redeemable noncontrolling interests recorded at fair value are put arrangements held by the noncontrolling interests in certain of the Company’s majority-owned sports networks. The Company utilizes the market, income or cost approaches or a combination of these valuation techniques for its Level 3 fair value measures, using observable inputs such as market data obtained from independent sources. To the extent observable inputs are not available, the Company utilizes unobservable inputs based upon the assumptions market participants would use in valuing the asset (liability). As of September 30, 2016, one minority shareholder’s put right will become exercisable in March 2017 and one minority shareholder’s put right will become exercisable in July 2017. The remaining redeemable noncontrolling interests are currently not exercisable.
Schedule of Fair Value and Carrying Value of Borrowings	The carrying value of the Company’s financial instruments, such as cash and cash equivalents, receivables, payables and cost method investments, approximates fair value. As of September 30, 2016 As of June 30, 2016 (in millions) Borrowings Fair value $ 23,977 $ 23,986 Carrying value $ 19,488 $ 19,553
Foreign Currency Forward Contracts
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Schedule of Financial Instruments Used to Hedge Certain Exposures	The Company uses foreign currency forward contracts primarily to hedge certain exposures to foreign currency exchange rate risks associated with revenues and the cost of producing or acquiring films and television programming. As of September 30, 2016 As of June 30, 2016 (in millions) Cash flow hedges Notional amount $ 280 $ 409 Fair value $ (19 ) $ (25 ) For foreign currency forward contracts designated as cash flow hedges, the Company expects to reclassify the cumulative changes in fair values, included in Accumulated other comprehensive loss, within the next three years. As of September 30, 2016 As of June 30, 2016 (in millions) Economic hedges Notional amount $ 84 $ 44 Fair value $ - $ -
Interest Rate Swap Contracts
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Schedule of Financial Instruments Used to Hedge Certain Exposures	The Company uses interest rate swap contracts to hedge certain exposures to interest rate risks associated with certain borrowings. As of September 30, 2016 As of June 30, 2016 (in millions) Cash flow hedges Notional amount $ 695 $ 701 Fair value $ (13 ) $ (19 )

Borrowings (Tables)

Borrowings (Tables)	3 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Schedule of Borrowings	Description As of September 30, 2016 As of June 30, 2016 (in millions) Bank loans $ 1,378 $ 1,446 Public debt - Predecessor indentures 10,579 10,579 - Senior notes issued under August 2009 indenture 7,700 7,700 Total public debt 18,279 18,279 Total principal amount 19,657 19,725 Less: unamortized discount and debt issuance costs (a) (169 ) (172 ) Total borrowings 19,488 19,553 Less: current borrowings (454 ) (427 ) Non-current borrowings $ 19,034 $ 19,126 (a) The adoption of ASU 2015-03 resulted in a $172 million decrease in Other non-current assets and Non-current Borrowings in the Consolidated Balance Sheet as of June 30, 2016.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Sep. 30, 2016
Stockholders Equity Note [Abstract]
Schedule of Changes in Stockholders' Equity	The following table summarizes changes in stockholders’ equity: For the three months ended September 30, 2016 2015 Twenty-First Century Fox stockholders Noncontrolling interests Total equity Twenty-First Century Fox stockholders Noncontrolling interests Total equity (in millions) Balance, beginning of period $ 13,661 $ 1,220 $ 14,881 $ 17,220 $ 966 $ 18,186 Net income 821 40 (a) 861 675 34 (a) 709 Other comprehensive (loss) income (41 ) 1 (40 ) (149 ) - (149 ) Cancellation of shares, net (390 ) - (390 ) (1,826 ) - (1,826 ) Dividends declared (335 ) - (335 ) (299 ) - (299 ) Other 91 (13 ) (b) 78 (340 ) (26 ) (b) (366 ) Balance, end of period $ 13,807 $ 1,248 $ 15,055 $ 15,281 $ 974 $ 16,255 (a) Net income attributable to noncontrolling interests excludes $27 million and $28 million for the three months ended September 30, 2016 and 2015, respectively, relating to redeemable noncontrolling interests which are reflected in temporary equity. (b) Other activity attributable to noncontrolling interests excludes $(26) million and $(33) million for the three months ended September 30, 2016 and 2015, respectively, relating to redeemable noncontrolling interests.
Schedule of Activity within Other Comprehensive Income (Loss)	The following table summarizes the activity within Other comprehensive income (loss): For the three months ended September 30, 2016 2015 Before tax Tax (provision) benefit Net of tax Before tax Tax (provision) benefit Net of tax (in millions) Foreign currency translation adjustments Unrealized gains (losses) $ 2 $ - $ 2 $ (67 ) $ 1 $ (66 ) Other comprehensive income (loss) $ 2 $ - $ 2 $ (67 ) $ 1 $ (66 ) Cash flow hedges Unrealized gains $ 11 $ (4 ) $ 7 $ 1 $ - $ 1 Amount reclassified on hedging activity (a) 2 (1 ) 1 3 - 3 Other comprehensive income $ 13 $ (5 ) $ 8 $ 4 $ - $ 4 Losses on securities Amount reclassified on sale of securities (b) $ - $ - $ - $ (7 ) $ 3 $ (4 ) Other comprehensive loss $ - $ - $ - $ (7 ) $ 3 $ (4 ) Benefit plan adjustments Unrealized losses $ - $ - $ - $ (2 ) $ - $ (2 ) Reclassification adjustments realized in net income (c) 14 (5 ) 9 9 (3 ) 6 Other comprehensive income $ 14 $ (5 ) $ 9 $ 7 $ (3 ) $ 4 Equity method investments Unrealized losses and reclassifications $ (67 ) $ 8 $ (59 ) $ (102 ) $ 15 $ (87 ) Other comprehensive loss $ (67 ) $ 8 $ (59 ) $ (102 ) $ 15 $ (87 ) (a) Reclassifications of amounts related to hedging activity are included in Revenues, Operating expenses, Selling, general and administrative expenses, Interest expense, net or Other, net, as appropriate, in the Unaudited Consolidated Statements of Operations for the three months ended September 30, 2016 and 2015 (See Note 5 – Fair Value for additional information regarding hedging activity). (b) Reclassifications of amounts related to gains and losses on securities are included in Other, net in the (c) Reclassifications of amounts related to benefit plan adjustments are included in Selling, general and administrative expenses in the Unaudited Consolidated Statements of Operations for the three months ended September 30, 2016 and 2015.
Computation of Numerator for Earnings Per Share	The following table sets forth the Company’s computation of Income from continuing operations attributable to Twenty-First Century Fox stockholders: For the three months ended September 30, 2016 2015 (in millions) Income from continuing operations $ 894 $ 740 Less: Net income attributable to noncontrolling interests (67 ) (62 ) Income from continuing operations attributable to Twenty-First Century Fox stockholders $ 827 $ 678
Schedule of Dividends Declared	The following table summarizes the dividends declared per share on both the Company’s Class A Common Stock and the Class B Common Stock: For the three months ended September 30, 2016 2015 Cash dividend per share $ 0.180 $ 0.150

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	3 Months Ended
	Sep. 30, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Equity-Based Compensation	The following table summarizes the Company’s equity-based compensation activity: For the three months ended September 30, 2016 2015 (in millions) Equity-based compensation $ 42 $ 90 Intrinsic value of all settled equity-based awards $ 69 $ 190 Tax benefit on vested equity-based awards $ 25 $ 69

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Reconciliation of Revenue and Segment OIBDA from Segments to Consolidated	For the three months ended September 30, 2016 2015 (in millions) Revenues: Cable Network Programming $ 3,810 $ 3,464 Television 1,038 1,049 Filmed Entertainment 1,907 1,785 Other, Corporate and Eliminations (249 ) (221 ) Total revenues $ 6,506 $ 6,077 Segment OIBDA: Cable Network Programming $ 1,384 $ 1,306 Television 191 196 Filmed Entertainment 311 149 Other, Corporate and Eliminations (95 ) (116 ) Total Segment OIBDA $ 1,791 $ 1,535 Amortization of cable distribution investments (15 ) (20 ) Depreciation and amortization (135 ) (128 ) Equity earnings of affiliates 35 35 Interest expense, net (300 ) (295 ) Interest income 9 9 Other, net (148 ) (83 ) Income from continuing operations before income tax expense 1,237 1,053 Income tax expense (343 ) (313 ) Income from continuing operations 894 740 Loss from discontinued operations, net of tax (6 ) (3 ) Net income 888 737 Less: Net income attributable to noncontrolling interests (67 ) (62 ) Net income attributable to Twenty-First Century Fox stockholders $ 821 $ 675
Reconciliation of Depreciation and Amortization from Segments to Consolidated	For the three months ended September 30, 2016 2015 (in millions) Depreciation and amortization: Cable Network Programming $ 82 $ 74 Television 29 30 Filmed Entertainment 20 20 Other, Corporate and Eliminations 4 4 Total depreciation and amortization $ 135 $ 128
Reconciliation of Assets from Segments to Consolidated	As of September 30, 2016 As of June 30, 2016 (in millions) Assets: Cable Network Programming $ 24,995 $ 24,974 Television 7,249 6,959 Filmed Entertainment 9,826 9,579 Other, Corporate and Eliminations 2,644 2,818 Investments 3,912 3,863 Total assets $ 48,626 $ 48,193
Reconciliation of Revenue from Components to Consolidated	Revenues by Component For the three months ended September 30, 2016 2015 (in millions) Revenues: Affiliate fees $ 2,923 $ 2,686 Advertising 1,591 1,599 Content 1,869 1,725 Other 123 67 Total revenues $ 6,506 $ 6,077

Additional Financial Informat28

Additional Financial Information (Tables)	3 Months Ended
	Sep. 30, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Supplemental Cash Flows Information	For the three months ended September 30, 2016 2015 (in millions) Supplemental cash flows information: Cash paid for income taxes $ (95 ) $ (89 ) Cash paid for interest $ (292 ) $ (292 )

Supplemental Guarantor Inform29

Supplemental Guarantor Information (Tables)	3 Months Ended
	Sep. 30, 2016
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Supplemental Condensed Consolidating Statements of Operations	TWENTY-FIRST CENTURY FOX, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS Supplemental Condensed Consolidating Statement of Operations For the three months ended September 30, 2016 (in millions) 21st Fox America, Inc. Twenty-First Century Fox Non-Guarantor Reclassifications and Eliminations Twenty-First Century Fox and Subsidiaries Revenues $ - $ - $ 6,506 $ - $ 6,506 Expenses (89 ) - (4,776 ) - (4,865 ) Equity (losses) earnings of affiliates (1 ) - 36 - 35 Interest expense, net (412 ) (188 ) (19 ) 319 (300 ) Interest income 1 - 327 (319 ) 9 Earnings from subsidiary entities 1,615 1,015 - (2,630 ) - Other, net (74 ) - (74 ) - (148 ) Income from continuing operations before income tax expense 1,040 827 2,000 (2,630 ) 1,237 Income tax expense (288 ) - (554 ) 499 (343 ) Income from continuing operations 752 827 1,446 (2,131 ) 894 Loss from discontinued operations, net of tax - (6 ) - - (6 ) Net income 752 821 1,446 (2,131 ) 888 Less: Net income attributable to noncontrolling interests - - (67 ) - (67 ) Net income attributable to Twenty-First Century Fox stockholders $ 752 $ 821 $ 1,379 $ (2,131 ) $ 821 Comprehensive income attributable to Twenty-First Century Fox stockholders $ 668 $ 780 $ 1,360 $ (2,028 ) $ 780 TWENTY-FIRST CENTURY FOX, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS Supplemental Condensed Consolidating Statement of Operations For the three months ended September 30, 2015 (in millions) 21st Century Fox America, Inc. Twenty-First Century Fox Non-Guarantor Reclassifications and Eliminations Twenty-First Century Fox and Subsidiaries Revenues $ - $ - $ 6,077 $ - $ 6,077 Expenses (106 ) - (4,584 ) - (4,690 ) Equity (losses) earnings of affiliates (1 ) - 36 - 35 Interest expense, net (398 ) (176 ) (20 ) 299 (295 ) Interest income - 2 306 (299 ) 9 Earnings from subsidiary entities 1,452 852 - (2,304 ) - Other, net 13 - (96 ) - (83 ) Income from continuing operations before income tax expense 960 678 1,719 (2,304 ) 1,053 Income tax expense (285 ) - (511 ) 483 (313 ) Income from continuing operations 675 678 1,208 (1,821 ) 740 Loss from discontinued operations, net of tax - (3 ) - - (3 ) Net income 675 675 1,208 (1,821 ) 737 Less: Net income attributable to noncontrolling interests - - (62 ) - (62 ) Net income attributable to Twenty-First Century Fox stockholders $ 675 $ 675 $ 1,146 $ (1,821 ) $ 675 Comprehensive income attributable to Twenty-First Century Fox stockholders $ 485 $ 526 $ 887 $ (1,372 ) $ 526
Supplemental Condensed Consolidating Balance Sheets	TWENTY-FIRST CENTURY FOX, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS Supplemental Condensed Consolidating Balance Sheet As of September 30, 2016 (in millions) 21st Century Fox America, Inc. Twenty-First Century Fox Non-Guarantor Reclassifications and Eliminations Twenty-First Century Fox and Subsidiaries ASSETS Current assets: Cash and cash equivalents $ 510 $ 2,240 $ 1,931 $ - $ 4,681 Receivables, net 23 - 6,077 (1 ) 6,099 Inventories, net - - 3,300 - 3,300 Other 45 - 796 - 841 Total current assets 578 2,240 12,104 (1 ) 14,921 Non-current assets: Receivables, net 15 - 450 - 465 Inventories, net - - 7,396 - 7,396 Property, plant and equipment, net 212 - 1,457 - 1,669 Intangible assets, net - - 6,715 - 6,715 Goodwill - - 12,739 - 12,739 Other non-current assets 239 - 570 - 809 Investments: Investments in associated companies and other investments 165 37 3,710 - 3,912 Intragroup investments 100,584 56,936 - (157,520 ) - Total investments 100,749 56,973 3,710 (157,520 ) 3,912 TOTAL ASSETS $ 101,793 $ 59,213 $ 45,141 $ (157,521 ) $ 48,626 LIABILITIES AND EQUITY Current liabilities: Borrowings $ 400 $ - $ 54 $ - $ 454 Other current liabilities 482 426 6,061 (1 ) 6,968 Total current liabilities 882 426 6,115 (1 ) 7,422 Non-current liabilities: Borrowings 17,715 - 1,319 - 19,034 Other non-current liabilities 619 - 5,943 - 6,562 Intercompany 38,350 44,980 (83,330 ) - - Redeemable noncontrolling interests - - 553 - 553 Total equity 44,227 13,807 114,541 (157,520 ) 15,055 TOTAL LIABILITIES AND EQUITY $ 101,793 $ 59,213 $ 45,141 $ (157,521 ) $ 48,626 TWENTY-FIRST CENTURY FOX, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS Supplemental Condensed Consolidating Balance Sheet As of June 30, 2016 (in millions) 21st Century Fox America, Inc. Twenty-First Century Fox Non-Guarantor Reclassifications and Eliminations Twenty-First Century Fox and Subsidiaries ASSETS Current assets: Cash and cash equivalents $ 661 $ 2,019 $ 1,744 $ - $ 4,424 Receivables, net 20 - 6,239 (1 ) 6,258 Inventories, net - - 3,291 - 3,291 Other 13 - 963 - 976 Total current assets 694 2,019 12,237 (1 ) 14,949 Non-current assets: Receivables, net 15 - 374 - 389 Inventories, net - - 7,041 - 7,041 Property, plant and equipment, net 213 - 1,479 - 1,692 Intangible assets, net - - 6,777 - 6,777 Goodwill - - 12,733 - 12,733 Other non-current assets 235 - 514 - 749 Investments: Investments in associated companies and other investments 137 37 3,689 - 3,863 Intragroup investments 98,965 55,895 - (154,860 ) - Total investments 99,102 55,932 3,689 (154,860 ) 3,863 TOTAL ASSETS $ 100,259 $ 57,951 $ 44,844 $ (154,861 ) $ 48,193 LIABILITIES AND EQUITY Current liabilities: Borrowings $ 400 $ - $ 27 $ - $ 427 Other current liabilities 489 144 6,009 (1 ) 6,641 Total current liabilities 889 144 6,036 (1 ) 7,068 Non-current liabilities: Borrowings 17,712 - 1,414 - 19,126 Other non-current liabilities 605 - 5,961 - 6,566 Intercompany 37,838 44,146 (81,984 ) - - Redeemable noncontrolling interests - - 552 - 552 Total equity 43,215 13,661 112,865 (154,860 ) 14,881 TOTAL LIABILITIES AND EQUITY $ 100,259 $ 57,951 $ 44,844 $ (154,861 ) $ 48,193
Supplemental Condensed Consolidating Statements of Cash Flows	TWENTY-FIRST CENTURY FOX, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS Supplemental Condensed Consolidating Statement of Cash Flows For the three months ended September 30, 2016 (in millions) 21st Fox America, Inc. Twenty-First Century Fox Non-Guarantor Reclassifications and Eliminations Twenty-First Century Fox and Subsidiaries Operating activities: Net cash (used in) provided by operating activities from continuing operations $ (114 ) $ 708 $ 386 $ - $ 980 Investing activities: Property, plant and equipment (3 ) - (50 ) - (53 ) Investments (28 ) - (41 ) - (69 ) Net cash used in investing activities from continuing operations (31 ) - (91 ) - (122 ) Financing activities: Borrowings - - 37 - 37 Repayment of borrowings - - (105 ) - (105 ) Repurchase of shares - (467 ) - - (467 ) Dividends paid and distributions - - (54 ) - (54 ) Other financing activities, net - (20 ) 1 - (19 ) Net cash used in financing activities from continuing operations - (487 ) (121 ) - (608 ) Discontinued operations: Net decrease in cash and cash equivalents from discontinued operations (6 ) - - - (6 ) Net (decrease) increase in cash and cash equivalents (151 ) 221 174 - 244 Cash and cash equivalents, beginning of year 661 2,019 1,744 - 4,424 Exchange movement on cash balances - - 13 - 13 Cash and cash equivalents, end of period $ 510 $ 2,240 $ 1,931 $ - $ 4,681 TWENTY-FIRST CENTURY FOX, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS Supplemental Condensed Consolidating Statement of Cash Flows For the three months ended September 30, 2015 (in millions) 21st Century Fox America, Inc. Twenty-First Century Fox Non-Guarantor Reclassifications and Eliminations Twenty-First Century Fox and Subsidiaries Operating activities: Net cash provided by (used in) operating activities from continuing operations $ 162 $ (202 ) $ (265 ) $ - $ (305 ) Investing activities: Property, plant and equipment (2 ) - (32 ) - (34 ) Investments (156 ) (2 ) (91 ) - (249 ) Net cash used in investing activities from continuing operations (158 ) (2 ) (123 ) - (283 ) Financing activities: Borrowings - - 91 - 91 Repayment of borrowings - - (119 ) - (119 ) Repurchase of shares - (1,889 ) - - (1,889 ) Dividends paid and distributions - - (56 ) - (56 ) Other financing activities, net - 11 (3 ) - 8 Net cash used in financing activities from continuing operations - (1,878 ) (87 ) - (1,965 ) Discontinued operations: Net decrease in cash and cash equivalents from discontinued operations (7 ) - - - (7 ) Net decrease in cash and cash equivalents (3 ) (2,082 ) (475 ) - (2,560 ) Cash and cash equivalents, beginning of year 767 5,913 1,748 - 8,428 Exchange movement on cash balances - - (38 ) - (38 ) Cash and cash equivalents, end of period $ 764 $ 3,831 $ 1,235 $ - $ 5,830

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details)	3 Months Ended
	Sep. 30, 2016Segment
Basis of Presentation [Abstract]
Number of Reportable Segments	4

Inventories, Net (Schedule of I

Inventories, Net (Schedule of Inventories, Net) (Details) - USD ($) $ in Millions		Sep. 30, 2016	Jun. 30, 2016
Inventory Disclosure [Abstract]
Programming rights and other	[1]	$ 6,601	$ 6,359
Films:
Released or completed		1,562	1,569
In production		789	825
In development or preproduction		236	196
Films, Total		2,587	2,590
Television productions:
Released		931	1,067
In production, development or preproduction		577	316
Television productions, Total		1,508	1,383
Total filmed entertainment costs, less accumulated amortization	[2]	4,095	3,973
Total inventories, net		10,696	10,332
Less: current portion of inventories, net	[3]	(3,300)	(3,291)
Total non-current inventories, net		$ 7,396	$ 7,041
[1]	Other includes DVDs, Blu-rays and other merchandise.
[2]	Does not include $265 million and $273 million of net intangible film library costs as of September 30, 2016 and June 30, 2016, respectively, which were included in intangible assets subject to amortization in the Consolidated Balance Sheets.
[3]	Current portion of inventories, net as of September 30, 2016 and June 30, 2016 was comprised of programming rights ($3,198 million and $3,212 million, respectively), DVDs, Blu-rays and other merchandise.

Inventories, Net (Schedule of32

Inventories, Net (Schedule of Inventories, Net) (Parenthetical) (Details) - USD ($) $ in Millions		Sep. 30, 2016	Jun. 30, 2016
Inventory [Line Items]
Current portion of inventories, net	[1]	$ 3,300	$ 3,291
Acquired Film Libraries
Inventory [Line Items]
Intangible assets subject to amortization, net		265	273
Programming Rights
Inventory [Line Items]
Current portion of inventories, net		$ 3,198	$ 3,212
[1]	Current portion of inventories, net as of September 30, 2016 and June 30, 2016 was comprised of programming rights ($3,198 million and $3,212 million, respectively), DVDs, Blu-rays and other merchandise.

Investments (Schedule of Invest

Investments (Schedule of Investments) (Details) - USD ($) $ in Millions		Sep. 30, 2016	Jun. 30, 2016
Investment Holdings [Line Items]
Other investments		$ 474	$ 446
Total investments		$ 3,912	3,863
Sky
Investment Holdings [Line Items]
Percentage of ownership	[1],[2]	39.00%
Equity method investments	[1],[2]	$ 3,024	2,972
Endemol Shine Group
Investment Holdings [Line Items]
Percentage of ownership	[1]	50.00%
Equity method investments	[1]	$ 414	$ 445
[1]	Equity method investment.
[2]	The Company’s investment in Sky plc (“Sky”) had a market value of $7.8 billion as of September 30, 2016 determined using its quoted market price on the London Stock Exchange (a Level 1 measurement as defined in Note 5 – Fair Value).

Investments (Schedule of Inve34

Investments (Schedule of Investments) (Parenthetical) (Details) $ in Billions	Sep. 30, 2016USD ($)
Quoted Prices in Active Markets for Identical Instruments (Level 1) | Sky
Investment Holdings [Line Items]
Market value of equity method investments	$ 7.8

Investments (Narratives) (Detai

Investments (Narratives) (Details) - Hulu	1 Months Ended
	Aug. 31, 2016USD ($)
Investment Holdings [Line Items]
Equity Method Investment, percentage of equity interest issued	10.00%
Equity method investment, ownership percentage	30.00%
Equity method investment, put/call period	36 months
Maximum
Investment Holdings [Line Items]
Additional capital contribution required in the event the equity investee is required to fund the repurchase of shares	$ 300,000,000

Fair Value (Narrative) (Details

Fair Value (Narrative) (Details) - USD ($)	3 Months Ended
	Sep. 30, 2016	Jun. 30, 2016
Foreign Currency Cash Flow Hedges [Abstract]
Number of years to reclassify the cumulative change in fair value of cash flow hedges, foreign currency forward contracts	3 years
Interest Rate Cash Flow Hedges [Abstract]
Number of years to reclassify the cumulative change in fair value of cash flow hedges, interest rate swap	3 years
Fair value measurements recurring
Derivatives Fair Value [Line Items]
Fair value of assets and liability	$ (588,000,000)	$ (632,000,000)
Fair value measurements recurring | Level 1
Derivatives Fair Value [Line Items]
Fair value of assets and liability	$ 0	$ 0

Fair Value (Schedule of Financi

Fair Value (Schedule of Financial Assets and Liabilities Carried at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions		Sep. 30, 2016	Jun. 30, 2016
Liabilities
Redeemable noncontrolling interests		$ (553)	$ (552)
Fair value measurements recurring
Assets
Derivatives	[1]	3	6
Liabilities
Derivatives	[1]	(35)	(50)
Contingent consideration	[2]	(3)	(36)
Redeemable noncontrolling interests	[3]	(553)	(552)
Total		(588)	(632)
Fair value measurements recurring | (Level 2)
Assets
Derivatives	[1]	3	6
Liabilities
Derivatives	[1]	(35)	(50)
Total		(32)	(44)
Fair value measurements recurring | (Level 3)
Liabilities
Contingent consideration	[2]	(3)	(36)
Redeemable noncontrolling interests	[3]	(553)	(552)
Total		$ (556)	$ (588)
[1]	Represents derivatives associated with the Company’s foreign currency forward contracts and interest rate swap contracts.
[2]	Represents contingent consideration related to past acquisitions.
[3]	The Company accounts for redeemable noncontrolling interests in accordance with ASC 480-10-S99-3A, “Distinguishing Liabilities from Equity” (“ASC 480-10-S99-3A”), because their exercise is outside the control of the Company. The redeemable noncontrolling interests recorded at fair value are put arrangements held by the noncontrolling interests in certain of the Company’s majority-owned sports networks. The Company utilizes the market, income or cost approaches or a combination of these valuation techniques for its Level 3 fair value measures, using observable inputs such as market data obtained from independent sources. To the extent observable inputs are not available, the Company utilizes unobservable inputs based upon the assumptions market participants would use in valuing the asset (liability). As of September 30, 2016, one minority shareholder’s put right will become exercisable in March 2017 and one minority shareholder’s put right will become exercisable in July 2017. The remaining redeemable noncontrolling interests are currently not exercisable.

Fair Value (Schedule of Finan38

Fair Value (Schedule of Financial Assets and Liabilities Carried at Fair Value on a Recurring Basis) (Parenthetical) (Details)	3 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Minority shareholder's put right exercisable period	As of September 30, 2016, one minority shareholder’s put right will become exercisable in March 2017 and one minority shareholder’s put right will become exercisable in July 2017. The remaining redeemable noncontrolling interests are currently not exercisable.

Fair Value (Borrowings) (Detail

Fair Value (Borrowings) (Details) - USD ($) $ in Millions	Sep. 30, 2016	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair value	$ 23,977	$ 23,986
Carrying value	$ 19,488	$ 19,553

Fair Value (Schedule of Finan40

Fair Value (Schedule of Financial Instruments Used to Hedge Certain Exposures to Foreign Currency Exchange Rate Risks) (Details) - Foreign Currency Forward Contracts - USD ($) $ in Millions	Sep. 30, 2016	Jun. 30, 2016
Economic hedges
Derivatives Fair Value [Line Items]
Notional amount	$ 84	$ 44
Fair value	0	0
Cash Flow Hedges | Designated as Hedging Instrument
Derivatives Fair Value [Line Items]
Notional amount	280	409
Fair value	$ (19)	$ (25)

Fair Value (Schedule of Finan41

Fair Value (Schedule of Financial Instruments Used to Hedge Certain Exposures to Interest Rate Risks) (Details) - Interest Rate Swap Contracts - Cash Flow Hedges - Designated as Hedging Instrument - USD ($) $ in Millions	Sep. 30, 2016	Jun. 30, 2016
Derivatives Fair Value [Line Items]
Notional amount	$ 695	$ 701
Fair value	$ (13)	$ (19)

Borrowings (Schedule of Borrowi

Borrowings (Schedule of Borrowings) (Details) - USD ($) $ in Millions		Sep. 30, 2016	Jun. 30, 2016
Debt Instrument [Line Items]
Total principal amount		$ 19,657	$ 19,725
Less: unamortized discount and debt issuance cost	[1]	(169)	(172)
Total borrowings		19,488	19,553
Less: current borrowings		(454)	(427)
Borrowings		19,034	19,126
Bank loans
Debt Instrument [Line Items]
Total principal amount		1,378	1,446
Senior Notes
Debt Instrument [Line Items]
Total principal amount		18,279	18,279
Senior Notes | Public debt - Predecessor indentures
Debt Instrument [Line Items]
Total principal amount		10,579	10,579
Senior Notes | Public debt - Senior notes issued under August 2009 indenture
Debt Instrument [Line Items]
Total principal amount		$ 7,700	$ 7,700
[1]	The adoption of ASU 2015-03 resulted in a $172 million decrease in Other non-current assets and Non-current Borrowings in the Consolidated Balance Sheet as of June 30, 2016.

Borrowings (Schedule of Borro43

Borrowings (Schedule of Borrowings) (Parenthetical) (Details) $ in Millions	Jun. 30, 2016USD ($)
ASU 2015-03
Debt Instrument [Line Items]
Decrease in other non-current assets and non-current borrowings in the consolidated balance sheet as a result of the adoption of an accounting standard update	$ 172

Borrowings (Narrative) (Details

Borrowings (Narrative) (Details) - USD ($)	1 Months Ended
	Oct. 31, 2016	Sep. 30, 2016
Senior Notes | 8.00% Due 2016 | Subsequent Event
Debt Instrument [Line Items]
Senior notes retired	$ 400,000,000
Stated interest rate of debt instrument	8.00%
Yankees Entertainment and Sports Network | Term Loans
Debt Instrument [Line Items]
Principal payment		$ 54,000,000

Stockholders' Equity (Schedule

Stockholders' Equity (Schedule of Changes in Stockholders' Equity) (Details) - USD ($) $ in Millions		3 Months Ended
		Sep. 30, 2016	Sep. 30, 2015
Increase (Decrease) in Stockholders' Equity
Balance, beginning of period		$ 14,881	$ 18,186
Net income		861	709
Other comprehensive (loss) income		(40)	(149)
Cancellation of shares, net		(390)	(1,826)
Dividends declared		(335)	(299)
Other		78	(366)
Balance, end of period		15,055	16,255
Twenty-First Century Fox stockholders
Increase (Decrease) in Stockholders' Equity
Balance, beginning of period		13,661	17,220
Net income		821	675
Other comprehensive (loss) income		(41)	(149)
Cancellation of shares, net		(390)	(1,826)
Dividends declared		(335)	(299)
Other		91	(340)
Balance, end of period		13,807	15,281
Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity
Balance, beginning of period		1,220	966
Net income	[1]	40	34
Other comprehensive (loss) income		1
Other	[2]	(13)	(26)
Balance, end of period		$ 1,248	$ 974
[1]	Net income attributable to noncontrolling interests excludes $27 million and $28 million for the three months ended September 30, 2016 and 2015, respectively, relating to redeemable noncontrolling interests which are reflected in temporary equity.
[2]	Other activity attributable to noncontrolling interests excludes $(26) million and $(33) million for the three months ended September 30, 2016 and 2015, respectively, relating to redeemable noncontrolling interests.

Stockholders' Equity (Schedul46

Stockholders' Equity (Schedule of Changes in Stockholders' Equity) (Parenthetical) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Temporary Equity Disclosure
Net income attributable to redeemable noncontrolling interests	$ 27	$ 28
Other activity attributable to redeemable noncontrolling interests	$ (26)	$ (33)

Stockholders' Equity (Other Com

Stockholders' Equity (Other Comprehensive Income) (Details) - USD ($) $ in Millions		3 Months Ended
		Sep. 30, 2016	Sep. 30, 2015
Foreign currency translation adjustments
Unrealized gains (losses) on foreign currency translation, before reclassification adjustment, before tax		$ 2	$ (67)
Foreign currency translation adjustments, after reclassification, before tax		2	(67)
Unrealized gains (losses) on foreign currency translation, before reclassification adjustment, tax			1
Foreign currency translation adjustments, after reclassification, tax		0	1
Unrealized gains (losses) on foreign currency translation, before reclassification adjustment, net of tax		2	(66)
Foreign currency translation adjustments, after reclassification adjustments, net of tax		2	(66)
Cash flow hedges
Unrealized gains on cash flow hedges, before reclassification adjustment, before tax		11	1
Amount reclassified on hedging activity, before tax	[1]	2	3
Other comprehensive income on cash flow hedges, before tax		13	4
Unrealized gains on cash flow hedges, before reclassification adjustment, tax		(4)
Amount reclassified on hedging activity, tax	[1]	(1)
Other comprehensive income on cash flow hedges, tax		(5)	0
Unrealized gains on cash flow hedges, net of tax		7	1
Amount reclassified on hedging activity, net of tax	[1]	1	3
Other comprehensive income on cash flow hedges, net of tax		8	4
Losses on securities
Amount reclassified on sale of securities, before tax	[2]		(7)
Other comprehensive loss on securities, before tax		0	(7)
Amount reclassified on sale of securities, tax	[2]		3
Other comprehensive loss on securities, tax		0	3
Amount reclassified on sale of securities, net of tax	[2]	0	(4)
Other comprehensive loss on securities, net of tax		0	(4)
Benefit plan adjustments
Benefit plan adjustments unrealized losses, before reclassification adjustment, before tax			(2)
Benefit plan reclassification adjustments realized in net income, before tax	[3]	14	9
Benefit plan adjustments, after reclassification adjustment, before tax		14	7
Benefit plan reclassification adjustments realized in net income, tax	[3]	(5)	(3)
Benefit plan adjustments, after reclassification adjustment, tax		(5)	(3)
Benefit plan adjustments unrealized losses, before reclassification adjustment, net of tax		0	(2)
Benefit plan reclassification adjustments realized in net income, net of tax	[3]	9	6
Benefit plan adjustments, after reclassification adjustment, net of tax		9	4
Equity method investments
Unrealized losses and reclassifications on equity method investments, before tax		(67)	(102)
Other comprehensive loss on equity method investments, before tax		(67)	(102)
Unrealized losses and reclassifications on equity method investments, tax		8	15
Other comprehensive loss on equity method investments, tax		8	15
Unrealized losses and reclassifications on equity method investments, net of tax		(59)	(87)
Other comprehensive loss on equity method investments, net of tax		$ (59)	$ (87)
[1]	Reclassifications of amounts related to hedging activity are included in Revenues, Operating expenses, Selling, general and administrative expenses, Interest expense, net or Other, net, as appropriate, in the Unaudited Consolidated Statements of Operations for the three months ended September 30, 2016 and 2015 (See Note 5 – Fair Value for additional information regarding hedging activity).
[2]	Reclassifications of amounts related to gains and losses on securities are included in Other, net in the Unaudited Consolidated Statements of Operations for the three months ended September 30, 2016 and 2015.
[3]	Reclassifications of amounts related to benefit plan adjustments are included in Selling, general and administrative expenses in the Unaudited Consolidated Statements of Operations for the three months ended September 30, 2016 and 2015.

Stockholders' Equity (Earnings

Stockholders' Equity (Earnings Per Share Data) (Details) - USD ($) $ in Millions		3 Months Ended
		Sep. 30, 2016	Sep. 30, 2015
Earnings Per Share Data
Income from continuing operations		$ 894	$ 740
Less: Net income attributable to noncontrolling interests	[1]	(67)	(62)
Income from continuing operations attributable to Twenty-First Century Fox stockholders		$ 827	$ 678
[1]	Net income attributable to noncontrolling interests includes $27 million and $28 million for the three months ended September 30, 2016 and 2015, respectively, relating to redeemable noncontrolling interests.

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($)	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Aug. 31, 2016
Temporary Suspension of Voting Rights [Abstract]
Broadcast station licensee ownership threshold	25.00%
Class A Common Stock
Stock Repurchase Program [Abstract]
Stock repurchase program, authorized repurchase amount			$ 3,000,000,000
Stock repurchase program, remaining authorized amount	$ 3,240,000,000
Dividends [Abstract]
Cash dividend declared per share	$ 0.180	$ 0.150
Cash dividend payable date	2016-10
Cash dividend record date	Sep. 14, 2016
Class A Common Stock | Fiscal 2016 Authorization
Stock Repurchase Program [Abstract]
Stock repurchase program, remaining authorized amount	$ 240,000,000
Class A Common Stock | Fiscal 2017 Authorization
Stock Repurchase Program [Abstract]
Stock repurchase program, remaining authorized amount	$ 3,000,000,000
Class B Common Stock
Dividends [Abstract]
Cash dividend declared per share	$ 0.180	$ 0.150
Cash dividend payable date	2016-10
Cash dividend record date	Sep. 14, 2016
Class B Common Stock | Non U S Stockholders
Temporary Suspension of Voting Rights [Abstract]
Percentage of suspended voting rights	10.00%

Stockholders' Equity (Schedul50

Stockholders' Equity (Schedule of Dividends Declared) (Details) - $ / shares	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Class A Common Stock
Class Of Stock [Line Items]
Cash dividend per share	$ 0.180	$ 0.150
Class B Common Stock
Class Of Stock [Line Items]
Cash dividend per share	$ 0.180	$ 0.150

Equity-Based Compensation (Summ

Equity-Based Compensation (Summary of Equity-Based Compensation) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Equity-based compensation	$ 42	$ 90
Intrinsic value of all settled equity-based awards	69	190
Tax benefit on vested equity-based awards	$ 25	$ 69

Equity-Based Compensation (Narr

Equity-Based Compensation (Narrative) (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total compensation costs related to non-vested equity-based awards, not yet recognized	$ 200
Performance Stock Units | Class A Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted	6.1	6.1
Vested	2.6	5.9
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average future period unrecognized compensation cost related to equity based awards is expected to be recognized	1 year
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average future period unrecognized compensation cost related to equity based awards is expected to be recognized	2 years

Segment Information (Narrative)

Segment Information (Narrative) (Details) $ in Millions	3 Months Ended
	Sep. 30, 2016USD ($)SegmentFullpowertvstationDuopoly	Sep. 30, 2015USD ($)
Segment Reporting Information [Line Items]
Number of Reportable Segments | Segment	4
Revenues | $	$ 6,506	$ 6,077
Amortization of Intangible Assets | $	66	59
Filmed Entertainment Segment | Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues | $	$ (233)	$ (170)
US | Television Segment
Segment Reporting Information [Line Items]
Full power broadcast television stations	28
Duopolies | Duopoly	11
US | Television Segment | Fox
Segment Reporting Information [Line Items]
Full power broadcast television stations	17
US | Television Segment | MyNetworkTV
Segment Reporting Information [Line Items]
Full power broadcast television stations	9
US | Television Segment | CW Television Network and MyNetworkTV
Segment Reporting Information [Line Items]
Full power broadcast television stations	1
US | Television Segment | Independent Station
Segment Reporting Information [Line Items]
Full power broadcast television stations	1

Segment Information (Segment Re

Segment Information (Segment Revenues and Segment OIBDA Reconciliation to Net Income) (Details) - USD ($) $ in Millions		3 Months Ended
		Sep. 30, 2016	Sep. 30, 2015
Segment Reporting Information [Line Items]
Revenues		$ 6,506	$ 6,077
Segment OIBDA		1,791	1,535
Amortization of cable distribution investments		(15)	(20)
Depreciation and amortization		(135)	(128)
Equity earnings of affiliates		35	35
Interest expense, net		(300)	(295)
Interest income		9	9
Other, net		(148)	(83)
Income from continuing operations before income tax expense		1,237	1,053
Income tax expense		(343)	(313)
Income from continuing operations		894	740
Loss from discontinued operations, net of tax		(6)	(3)
Net income		888	737
Less: Net income attributable to noncontrolling interests	[1]	(67)	(62)
Net income attributable to Twenty-First Century Fox, Inc. stockholders		821	675
Operating Segments | Cable Network Programming Segment
Segment Reporting Information [Line Items]
Revenues		3,810	3,464
Segment OIBDA		1,384	1,306
Depreciation and amortization		(82)	(74)
Operating Segments | Television Segment
Segment Reporting Information [Line Items]
Revenues		1,038	1,049
Segment OIBDA		191	196
Depreciation and amortization		(29)	(30)
Operating Segments | Filmed Entertainment Segment
Segment Reporting Information [Line Items]
Revenues		1,907	1,785
Segment OIBDA		311	149
Depreciation and amortization		(20)	(20)
Other, Corporate and Eliminations Segment
Segment Reporting Information [Line Items]
Revenues		(249)	(221)
Segment OIBDA		(95)	(116)
Depreciation and amortization		$ (4)	$ (4)
[1]	Net income attributable to noncontrolling interests includes $27 million and $28 million for the three months ended September 30, 2016 and 2015, respectively, relating to redeemable noncontrolling interests.

Segment Information (Depreciati

Segment Information (Depreciation and Amortization) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 135	$ 128
Operating Segments | Cable Network Programming Segment
Segment Reporting Information [Line Items]
Depreciation and amortization	82	74
Operating Segments | Television Segment
Segment Reporting Information [Line Items]
Depreciation and amortization	29	30
Operating Segments | Filmed Entertainment Segment
Segment Reporting Information [Line Items]
Depreciation and amortization	20	20
Other, Corporate and Eliminations Segment
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 4	$ 4

Segment Information (Reconcilia

Segment Information (Reconciliation of Assets from Segments to Consolidated) (Details) - USD ($) $ in Millions	Sep. 30, 2016	Jun. 30, 2016
Segment Reporting Information [Line Items]
Total assets	$ 48,626	$ 48,193
Investments	3,912	3,863
Operating Segments | Cable Network Programming Segment
Segment Reporting Information [Line Items]
Total assets	24,995	24,974
Operating Segments | Television Segment
Segment Reporting Information [Line Items]
Total assets	7,249	6,959
Operating Segments | Filmed Entertainment Segment
Segment Reporting Information [Line Items]
Total assets	9,826	9,579
Other, Corporate and Eliminations Segment
Segment Reporting Information [Line Items]
Total assets	$ 2,644	$ 2,818

Segment Information (Reconcil57

Segment Information (Reconciliation of Revenues by Component to Consolidated) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Revenues:
Affiliate fees	$ 2,923	$ 2,686
Advertising	1,591	1,599
Content	1,869	1,725
Other	123	67
Total revenues	$ 6,506	$ 6,077

Additional Financial Informat58

Additional Financial Information (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Jun. 30, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Other, net	$ (148)	$ (83)
Costs in connection with management and employee transitions and restructuring at several business units	110
Costs related to settlements of pending and potential litigations following the July 2016 resignation of the Chairman and CEO of Fox News Channel after a public complaint was filed containing allegations of sexual harassment	35
Allowances for returns and doubtful accounts	$ 499		$ 576

Additional Financial Informat59

Additional Financial Information (Supplemental Cash Flows Information) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Supplemental cash flows information:
Cash paid for income taxes	$ (95)	$ (89)
Cash paid for interest	$ (292)	$ (292)

Supplemental Guarantor Inform60

Supplemental Guarantor Information (Narrative) (Details) - 21st Century Fox America, Inc. - Revolving Credit Facility - Credit Facility $1.4 Billion Due May 2020 - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2016	May 31, 2015
Line Of Credit Facility [Line Items]
Credit facility, agreement date	May 31, 2015
Line of Credit Facility, Current Borrowing Capacity		$ 1,400
Sub-limit for maximum amount of letters of credit issuable under revolving credit facility		$ 250
Secured credit facility, maturity date	May 31, 2020

Supplemental Guarantor Inform61

Supplemental Guarantor Information (Supplemental Condensed Consolidating Statements of Operations) (Details) - USD ($) $ in Millions		3 Months Ended
		Sep. 30, 2016	Sep. 30, 2015
Condensed Income Statements Captions [Line Items]
Revenues		$ 6,506	$ 6,077
Expenses		(4,865)	(4,690)
Equity (losses) earnings of affiliates		35	35
Interest expense, net		(300)	(295)
Interest income		9	9
Other, net		(148)	(83)
Income from continuing operations before income tax expense		1,237	1,053
Income tax expense		(343)	(313)
Income from continuing operations		894	740
Loss from discontinued operations, net of tax		(6)	(3)
Net income		888	737
Less: Net income attributable to noncontrolling interests	[1]	(67)	(62)
Net income attributable to Twenty-First Century Fox, Inc. stockholders		821	675
Comprehensive income attributable to Twenty-First Century Fox stockholders		780	526
Legal Entities | 21st Century Fox America, Inc.
Condensed Income Statements Captions [Line Items]
Expenses		(89)	(106)
Equity (losses) earnings of affiliates		(1)	(1)
Interest expense, net		(412)	(398)
Interest income		1
Earnings from subsidiary entities		1,615	1,452
Other, net		(74)	13
Income from continuing operations before income tax expense		1,040	960
Income tax expense		(288)	(285)
Income from continuing operations		752	675
Net income		752	675
Net income attributable to Twenty-First Century Fox, Inc. stockholders		752	675
Comprehensive income attributable to Twenty-First Century Fox stockholders		668	485
Legal Entities | Twenty-First Century Fox
Condensed Income Statements Captions [Line Items]
Interest expense, net		(188)	(176)
Interest income			2
Earnings from subsidiary entities		1,015	852
Income from continuing operations before income tax expense		827	678
Income from continuing operations		827	678
Loss from discontinued operations, net of tax		(6)	(3)
Net income		821	675
Net income attributable to Twenty-First Century Fox, Inc. stockholders		821	675
Comprehensive income attributable to Twenty-First Century Fox stockholders		780	526
Legal Entities | Non-Guarantor
Condensed Income Statements Captions [Line Items]
Revenues		6,506	6,077
Expenses		(4,776)	(4,584)
Equity (losses) earnings of affiliates		36	36
Interest expense, net		(19)	(20)
Interest income		327	306
Other, net		(74)	(96)
Income from continuing operations before income tax expense		2,000	1,719
Income tax expense		(554)	(511)
Income from continuing operations		1,446	1,208
Net income		1,446	1,208
Less: Net income attributable to noncontrolling interests		(67)	(62)
Net income attributable to Twenty-First Century Fox, Inc. stockholders		1,379	1,146
Comprehensive income attributable to Twenty-First Century Fox stockholders		1,360	887
Reclassifications and Eliminations
Condensed Income Statements Captions [Line Items]
Interest expense, net		319	299
Interest income		(319)	(299)
Earnings from subsidiary entities		(2,630)	(2,304)
Income from continuing operations before income tax expense		(2,630)	(2,304)
Income tax expense		499	483
Income from continuing operations		(2,131)	(1,821)
Net income		(2,131)	(1,821)
Net income attributable to Twenty-First Century Fox, Inc. stockholders		(2,131)	(1,821)
Comprehensive income attributable to Twenty-First Century Fox stockholders		$ (2,028)	$ (1,372)
[1]	Net income attributable to noncontrolling interests includes $27 million and $28 million for the three months ended September 30, 2016 and 2015, respectively, relating to redeemable noncontrolling interests.

Supplemental Guarantor Inform62

Supplemental Guarantor Information (Supplemental Condensed Consolidating Balance Sheets) (Details) - USD ($) $ in Millions		Sep. 30, 2016	Jun. 30, 2016	Sep. 30, 2015	Jun. 30, 2015
Current assets:
Cash and cash equivalents		$ 4,681	$ 4,424	$ 5,830	$ 8,428
Receivables, net		6,099	6,258
Inventories, net	[1]	3,300	3,291
Other		841	976
Total current assets		14,921	14,949
Non-current assets:
Receivables, net		465	389
Inventories, net		7,396	7,041
Property, plant and equipment, net		1,669	1,692
Intangible assets, net		6,715	6,777
Goodwill		12,739	12,733
Other non-current assets		809	749
Investments:
Investments in associated companies and other investments		3,912	3,863
Total investments		3,912	3,863
Total assets		48,626	48,193
Current liabilities:
Borrowings		454	427
Other current liabilities		6,968	6,641
Total current liabilities		7,422	7,068
Non-current liabilities:
Borrowings		19,034	19,126
Other non-current liabilities		6,562	6,566
Redeemable noncontrolling interests		553	552
Total equity		15,055	14,881	16,255	18,186
Total liabilities and equity		48,626	48,193
Legal Entities | 21st Century Fox America, Inc.
Current assets:
Cash and cash equivalents		510	661	764	767
Receivables, net		23	20
Other		45	13
Total current assets		578	694
Non-current assets:
Receivables, net		15	15
Property, plant and equipment, net		212	213
Other non-current assets		239	235
Investments:
Investments in associated companies and other investments		165	137
Intragroup investments		100,584	98,965
Total investments		100,749	99,102
Total assets		101,793	100,259
Current liabilities:
Borrowings		400	400
Other current liabilities		482	489
Total current liabilities		882	889
Non-current liabilities:
Borrowings		17,715	17,712
Other non-current liabilities		619	605
Intercompany		38,350	37,838
Total equity		44,227	43,215
Total liabilities and equity		101,793	100,259
Legal Entities | Twenty-First Century Fox
Current assets:
Cash and cash equivalents		2,240	2,019	3,831	5,913
Total current assets		2,240	2,019
Investments:
Investments in associated companies and other investments		37	37
Intragroup investments		56,936	55,895
Total investments		56,973	55,932
Total assets		59,213	57,951
Current liabilities:
Other current liabilities		426	144
Total current liabilities		426	144
Non-current liabilities:
Intercompany		44,980	44,146
Total equity		13,807	13,661
Total liabilities and equity		59,213	57,951
Legal Entities | Non-Guarantor
Current assets:
Cash and cash equivalents		1,931	1,744	1,235	1,748
Receivables, net		6,077	6,239
Inventories, net		3,300	3,291
Other		796	963
Total current assets		12,104	12,237
Non-current assets:
Receivables, net		450	374
Inventories, net		7,396	7,041
Property, plant and equipment, net		1,457	1,479
Intangible assets, net		6,715	6,777
Goodwill		12,739	12,733
Other non-current assets		570	514
Investments:
Investments in associated companies and other investments		3,710	3,689
Total investments		3,710	3,689
Total assets		45,141	44,844
Current liabilities:
Borrowings		54	27
Other current liabilities		6,061	6,009
Total current liabilities		6,115	6,036
Non-current liabilities:
Borrowings		1,319	1,414
Other non-current liabilities		5,943	5,961
Intercompany		(83,330)	(81,984)
Redeemable noncontrolling interests		553	552
Total equity		114,541	112,865
Total liabilities and equity		45,141	44,844
Reclassifications and Eliminations
Current assets:
Cash and cash equivalents		0	0	$ 0	$ 0
Receivables, net		(1)	(1)
Total current assets		(1)	(1)
Investments:
Intragroup investments		(157,520)	(154,860)
Total investments		(157,520)	(154,860)
Total assets		(157,521)	(154,861)
Current liabilities:
Other current liabilities		(1)	(1)
Total current liabilities		(1)	(1)
Non-current liabilities:
Total equity		(157,520)	(154,860)
Total liabilities and equity		$ (157,521)	$ (154,861)
[1]	Current portion of inventories, net as of September 30, 2016 and June 30, 2016 was comprised of programming rights ($3,198 million and $3,212 million, respectively), DVDs, Blu-rays and other merchandise.

Supplemental Guarantor Inform63

Supplemental Guarantor Information (Supplemental Condensed Consolidating Statements of Cash Flows) (Details) - USD ($) $ in Millions	3 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Operating activities:
Net cash provided by (used in) operating activities from continuing operations	$ 980	$ (305)
Investing activities:
Property, plant and equipment	(53)	(34)
Investments	(69)	(249)
Net cash used in investing activities from continuing operations	(122)	(283)
Financing activities:
Borrowings	37	91
Repayment of borrowings	(105)	(119)
Repurchase of shares	(467)	(1,889)
Dividends paid and distributions	(54)	(56)
Other financing activities, net	(19)	8
Net cash used in financing activities from continuing operations	(608)	(1,965)
Discontinued operations:
Net decrease in cash and cash equivalents from discontinued operations	(6)	(7)
Net increase (decrease) in cash and cash equivalents	244	(2,560)
Cash and cash equivalents, beginning of year	4,424	8,428
Exchange movement on cash balances	13	(38)
Cash and cash equivalents, end of period	4,681	5,830
Legal Entities | 21st Century Fox America, Inc.
Operating activities:
Net cash provided by (used in) operating activities from continuing operations	(114)	162
Investing activities:
Property, plant and equipment	(3)	(2)
Investments	(28)	(156)
Net cash used in investing activities from continuing operations	(31)	(158)
Financing activities:
Net cash used in financing activities from continuing operations	0	0
Discontinued operations:
Net decrease in cash and cash equivalents from discontinued operations	(6)	(7)
Net increase (decrease) in cash and cash equivalents	(151)	(3)
Cash and cash equivalents, beginning of year	661	767
Cash and cash equivalents, end of period	510	764
Legal Entities | Twenty-First Century Fox
Operating activities:
Net cash provided by (used in) operating activities from continuing operations	708	(202)
Investing activities:
Investments		(2)
Net cash used in investing activities from continuing operations	0	(2)
Financing activities:
Repurchase of shares	(467)	(1,889)
Other financing activities, net	(20)	11
Net cash used in financing activities from continuing operations	(487)	(1,878)
Discontinued operations:
Net increase (decrease) in cash and cash equivalents	221	(2,082)
Cash and cash equivalents, beginning of year	2,019	5,913
Cash and cash equivalents, end of period	2,240	3,831
Legal Entities | Non-Guarantor
Operating activities:
Net cash provided by (used in) operating activities from continuing operations	386	(265)
Investing activities:
Property, plant and equipment	(50)	(32)
Investments	(41)	(91)
Net cash used in investing activities from continuing operations	(91)	(123)
Financing activities:
Borrowings	37	91
Repayment of borrowings	(105)	(119)
Dividends paid and distributions	(54)	(56)
Other financing activities, net	1	(3)
Net cash used in financing activities from continuing operations	(121)	(87)
Discontinued operations:
Net increase (decrease) in cash and cash equivalents	174	(475)
Cash and cash equivalents, beginning of year	1,744	1,748
Exchange movement on cash balances	13	(38)
Cash and cash equivalents, end of period	1,931	1,235
Reclassifications and Eliminations
Operating activities:
Net cash provided by (used in) operating activities from continuing operations	0	0
Investing activities:
Net cash used in investing activities from continuing operations	0	0
Financing activities:
Net cash used in financing activities from continuing operations	0	0
Discontinued operations:
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents, beginning of year	0	0
Cash and cash equivalents, end of period	$ 0	$ 0