Twenty-First Century Fox (TFCF) 10-Q 10 May 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Mar. 31, 2017	May 05, 2017
Document And Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
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		1,052,334,514
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		9 Months Ended
		Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
Revenues		$ 7,564	$ 7,228	$ 21,752	$ 20,680
Operating expenses		(4,763)	(4,472)	(13,472)	(12,902)
Selling, general and administrative		(878)	(893)	(2,603)	(2,685)
Depreciation and amortization		(140)	(133)	(410)	(391)
Impairment and restructuring charges		(37)	(15)	(213)	(46)
Equity (losses) earnings of affiliates		(51)	(9)	(57)	38
Interest expense, net		(310)	(295)	(909)	(888)
Interest income		9	12	27	28
Other, net		(142)	(32)	(241)	(226)
Income from continuing operations before income tax expense		1,252	1,391	3,874	3,608
Income tax expense		(370)	(463)	(1,161)	(1,190)
Income from continuing operations		882	928	2,713	2,418
Loss from discontinued operations, net of tax		(12)	(3)	(19)	(8)
Net income		870	925	2,694	2,410
Less: Net income attributable to noncontrolling interests	[1]	(71)	(84)	(218)	(222)
Net income attributable to Twenty-First Century Fox, Inc. stockholders		799	841	2,476	2,188
EARNINGS PER SHARE DATA
Income from continuing operations attributable to Twenty-First Century Fox, Inc. stockholders - basic and diluted		$ 811	$ 844	$ 2,495	$ 2,196
Weighted average shares
Basic		1,851	1,916	1,855	1,961
Diluted		1,853	1,916	1,857	1,962
Income from continuing operations attributable to Twenty-First Century Fox, Inc. stockholders per share:
Basic		$ 0.44	$ 0.44	$ 1.35	$ 1.12
Diluted		0.44	0.44	1.34	1.12
Net income attributable to Twenty-First Century Fox, Inc. stockholders per share - basic and diluted		$ 0.43	$ 0.44	$ 1.33	$ 1.12
[1]	Net income attributable to noncontrolling interests includes $43 million and $36 million for the three months ended March 31, 2017 and 2016, respectively, and $113 million and $96 million for the nine months ended March 31, 2017 and 2016, respectively, relating to redeemable noncontrolling interests.

UNAUDITED CONSOLIDATED STATEME3

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Statement Of Income And Comprehensive Income [Abstract]
Net income		$ 870	$ 925	$ 2,694	$ 2,410
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments		111	42	(40)	(123)
Cash flow hedges		6	(20)	19	(4)
Unrealized holding losses on securities		0	0	0	(4)
Benefit plan adjustments		74	5	117	15
Equity method investments		0	47	(163)	(179)
Other comprehensive income (loss), net of tax		191	74	(67)	(295)
Comprehensive income		1,061	999	2,627	2,115
Less: Net income attributable to noncontrolling interests	[1]	(71)	(84)	(218)	(222)
Less: Other comprehensive (income) loss attributable to noncontrolling interests		(4)	0	16	0
Comprehensive income attributable to Twenty-First Century Fox, Inc. stockholders		$ 986	$ 915	$ 2,425	$ 1,893
[1]	Net income attributable to noncontrolling interests includes $43 million and $36 million for the three months ended March 31, 2017 and 2016, respectively, and $113 million and $96 million for the nine months ended March 31, 2017 and 2016, respectively, relating to redeemable noncontrolling interests.

UNAUDITED CONSOLIDATED STATEME4

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Statement Of Income And Comprehensive Income [Abstract]
Net income attributable to redeemable noncontrolling interests	$ 43	$ 36	$ 113	$ 96

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Mar. 31, 2017	Jun. 30, 2016
Current assets
Cash and cash equivalents		$ 5,572	$ 4,424
Receivables, net		7,219	6,258
Inventories, net	[1]	3,418	3,291
Other		529	976
Total current assets		16,738	14,949
Non-current assets
Receivables, net		538	389
Investments		3,679	3,863
Inventories, net		7,725	7,041
Property, plant and equipment, net		1,691	1,692
Intangible assets, net		6,579	6,777
Goodwill		12,733	12,733
Other non-current assets		1,001	749
Total assets		50,684	48,193
Current liabilities
Borrowings		107	427
Accounts payable, accrued expenses and other current liabilities		3,832	3,181
Participations, residuals and royalties payable		1,663	1,672
Program rights payable		1,233	1,283
Deferred revenue		621	505
Total current liabilities		7,456	7,068
Non-current liabilities
Borrowings		19,789	19,126
Other liabilities		3,826	3,678
Deferred income taxes		2,742	2,888
Redeemable noncontrolling interests		619	552
Commitments and contingencies
Equity
Additional paid-in capital		12,274	12,211
Retained earnings		4,919	3,575
Accumulated other comprehensive loss		(2,195)	(2,144)
Total Twenty-First Century Fox, Inc. stockholders' equity		15,017	13,661
Noncontrolling interests		1,235	1,220
Total equity		16,252	14,881
Total liabilities and equity		50,684	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 March 31, 2017 and June 30, 2016 was comprised of programming rights ($3,337 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, 1,052,334,514 shares and 1,071,302,532 shares issued and outstanding, net of 123,687,371 treasury shares at par as of March 31, 2017 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 March 31, 2017 and June 30, 2016.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2017	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	1,052,334,514	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		9 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
OPERATING ACTIVITIES
Net income		$ 2,694	$ 2,410
Less: Loss from discontinued operations, net of tax		(19)	(8)
Income from continuing operations		2,713	2,418
Adjustments to reconcile income from continuing operations to cash provided by operating activities
Depreciation and amortization		410	391
Amortization of cable distribution investments		46	53
Impairment and restructuring charges		213	46
Equity-based compensation		97	152
Equity losses (earnings) of affiliates		57	(38)
Cash distributions received from affiliates		182	225
Other, net		241	226
Deferred income taxes and other taxes		(70)	373
Change in operating assets and liabilities, net of acquisitions and dispositions
Receivables		(1,146)	(870)
Inventories net of program rights payable		(932)	(814)
Accounts payable and accrued expenses		257	136
Other changes, net		350	134
Net cash provided by operating activities from continuing operations		2,418	2,012
INVESTING ACTIVITIES
Property, plant and equipment		(202)	(156)
Acquisitions, net of cash acquired			(908)
Investments in equity affiliates		(18)	(87)
Other investments		(148)	(229)
Net cash used in investing activities from continuing operations		(368)	(1,380)
FINANCING ACTIVITIES
Borrowings		879	1,195
Repayment of borrowings		(546)	(502)
Repurchase of shares		(619)	(3,958)
Dividends paid and distributions		(522)	(465)
Purchase of subsidiary shares from noncontrolling interests			(287)
Other financing activities, net		(63)	11
Net cash used in financing activities from continuing operations		(871)	(4,006)
Net decrease in cash and cash equivalents from discontinued operations		(21)	(15)
Net increase (decrease) in cash and cash equivalents		1,158	(3,389)
Cash and cash equivalents, beginning of year		4,424	8,428
Exchange movement on cash balances		(10)	(46)
Cash and cash equivalents, end of period		$ 5,572	4,993
CLT20
Adjustments to reconcile income from continuing operations to cash provided by operating activities
CLT20 contract termination costs	[1]		$ (420)
[1]	See Note 5 – Restructuring Programs under the heading “Fiscal 2015” in the 2016 Form 10-K as defined in Note 1 – Basis of Presentation.

Basis of Presentation

Basis of Presentation	9 Months Ended
	Mar. 31, 2017
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 Twenty-First Century Fox 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 (the “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 to 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. In October 2016, the FASB issued ASU 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory” (“ASU 2016-16”). ASU 2016-16 requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory. ASU 2016-16 is effective for the Company for annual and interim reporting periods beginning July 1, 2018. The Company is currently evaluating the impact ASU 2016-16 will have on its consolidated financial statements. In January 2017, the FASB issued ASU 2017-01, “Business Combinations (Topic 805): Clarifying the Definition of a Business” (“ASU 2017-01”). The objective of ASU 2017-01 is to clarify the definition of a business in order to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill and consolidation. ASU 2017-01 is effective for the Company for annual and interim reporting periods beginning July 1, 2018. The Company is currently evaluating the impact ASU 2017-01 will have on its consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, “Intangibles–Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment” (“ASU 2017-04”). The objective of ASU 2017-04 is to simplify how an entity is required to test goodwill for impairment. Under current GAAP, entities are required to test goodwill for impairment using a two-step approach. Under the amendments in ASU 2017-04, an entity should perform its goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. ASU 2017-04 is effective for the Company for annual and interim reporting periods beginning July 1, 2020. The Company is currently evaluating the impact ASU 2017-04 will have on its consolidated financial statements. In March 2017, the FASB issued ASU 2017-07, “Compensation–Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost” (“ASU 2017-07”). ASU 2017-07 requires an employer to report the service cost component of net benefit cost in the same line item as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. In addition, ASU 2017-07 allows only the service cost component to be eligible for capitalization when applicable. ASU 2017-07 is effective for the Company for annual and interim reporting periods beginning July 1, 2018. Early adoption is permitted from July 1, 2017. The Company is currently evaluating the impact ASU 2017-07 will have on its consolidated financial statements. 1

Acquisitions, Disposals and Oth

Acquisitions, Disposals and Other Transactions	9 Months Ended
	Mar. 31, 2017
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. Fiscal 2017 Acquisitions Sky In December 2016, the Company announced it reached agreement with Sky plc (“Sky”), in which the Company currently has an approximate 39% interest, on the terms of a recommended pre-conditional cash offer by the Company for the fully diluted share capital of Sky, which the Company does not already own, at a price of £10.75 per Sky share (approximately $15 billion in the aggregate) (the “Proposed Sky Acquisition”). The independent committee of Sky’s Board of Directors announced that it intends to unanimously recommend that unaffiliated Sky shareholders vote in favor of the Proposed Sky Acquisition. The Proposed Sky Acquisition is subject to customary closing conditions, including regulatory approvals and the approval of Sky’s shareholders, and is expected to close on or before December 31, 2017. The required regulatory approvals include clearance of the Proposed Sky Acquisition under the European Union (“EU”) Merger Regulation by the European Commission, which notified the Company of such clearance in April 2017. Also in December 2016, the Company entered into a co-operation agreement with Sky (the “Co-Operation Agreement”) pursuant to which the Company and Sky agreed to take certain steps to facilitate completion of the Proposed Sky Acquisition. The Co-Operation Agreement provides for a £200 million (approximately $250 million) break fee payable in cash by the Company in the event that regulatory approvals are not obtained prior to August 15, 2018, or in certain other circumstances described in the Co-Operation Agreement. To provide financing in connection with the Proposed Sky Acquisition, the Company and 21st Century Fox America, Inc. (“21CFA”), a wholly-owned subsidiary of the Company, entered into a bridge credit agreement with the lenders party thereto (the “Bridge Credit Agreement”). The Bridge Credit Agreement provides for borrowings of up to £12.2 billion (approximately $15 billion). Fees under the Bridge Credit Agreement will be based on the Company’s long-term senior unsecured non-credit enhanced debt ratings. Given the current debt ratings, 21CFA will pay a commitment fee on undrawn funds of 0.1% and the initial interest rate on advances will be LIBOR plus 1.125% with subsequent increases every 90 days up to LIBOR plus 1.875%. 21CFA has also agreed to pay a duration fee on each of the 90th, 180th and 270th day after the funding of the loans in an amount equal to 0.50%, 0.75%, and 1.00%, respectively, of the aggregate principal amount of the advances and undrawn commitments outstanding at the time. The terms of the Bridge Credit Agreement also include the requirement that 21CFA maintain a certain leverage ratio and limitations with respect to secured indebtedness. While the Company has entered into the Bridge Credit Agreement, the Company intends to finance the Proposed Sky Acquisition by using a significant portion of the available cash on its balance sheet and obtaining permanent financing in the capital markets. In February 2017, the Company purchased a foreign currency exchange option to limit its foreign currency exchange rate risk in connection with the Proposed Sky Acquisition (See Note 5 – Fair Value under the heading “ Foreign Currency Contracts” Note 11 – Additional Financial Information under the heading “Other, net” The Company believes the Proposed Sky Acquisition will result in enhanced capabilities of the combined company, which will be underpinned by a more geographically diverse and stable revenue base, and will create an improved balance between subscription, affiliate fee, advertising and content revenues. Other In February 2017, the Company announced that it anticipates receiving approximately $350 million in proceeds resulting from the Federal Communications Commission’s (“FCC”) recently completed reverse auction for broadcast spectrum. The anticipated proceeds reflect the FCC’s acceptance of one or more bids placed by the Company during the auction to relinquish spectrum used by certain of its television stations. The Company anticipates it will receive the proceeds before December 31, 2017. Fiscal 2016 Acquisitions National Geographic Partners In fiscal 2016, the Company, through 21CFA, and the National Geographic Society (“NGS”), formed the entity that became National Geographic Partners, LLC (“National Geographic Partners”), to which, in November 2015, the Company contributed $625 million in cash and the Company and NGS contributed their existing interests in NGC Network US, LLC, NGC Network International, LLC and NGC Network Latin America, LLC (collectively, “NGC Networks”). Prior to the transaction, the Company held a controlling interest in NGC Networks, a consolidated subsidiary. NGS also contributed its publishing, travel and certain other businesses (collectively, the “NGS Media Business”) to National Geographic Partners. As part of the transaction, National Geographic Partners also acquired the long-term license for the use of certain trademarks owned by NGS related to the NGC Networks and the NGS Media Business. The Company currently holds a 73% controlling interest in National Geographic Partners. The consideration transferred to NGS has been allocated as follows: approximately $510 million to indefinite-lived intangible assets related to the trademark license agreement, $105 million to intangible assets consisting primarily of subscriber relationships with useful lives of eight years, $60 million to goodwill on the transaction and other net assets of the NGS Media Business and $55 million to the additional interest in National Geographic Partners. MAA Television Network In December 2015, the Company acquired the entirety of the broadcast business of MAA Television Network Limited (“MAA TV”), an entity in India that broadcasts and operates Telugu language entertainment channels, for approximately $346 million in cash including payments toward non-compete agreements. The consideration transferred of approximately $285 million has been allocated, based on a valuation of MAA TV, as follows: approximately $90 million to intangible assets consisting of multi-channel video programming distributor (“MVPD”) affiliate agreements and relationships with useful lives of 11 years, advertiser relationships with useful lives of eight years and the MAA TV trade name with a useful life of 10 years; and the balance representing the goodwill on the transaction. For the fiscal 2016 transactions, the majority of the goodwill is tax deductible and reflects the synergies and increased market penetration expected from combining the operations of the NGS Media Business and MAA TV with the Company.

Inventories, Net

Inventories, Net	9 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Inventories, Net	NOTE 3. INVENTORIES, NET The Company’s inventories were comprised of the following: As of March 31, 2017 As of June 30, 2016 (in millions) Programming rights and other (a) $ 6,763 $ 6,359 Filmed entertainment costs Films Released or completed 1,320 1,569 In production 1,213 825 In development or preproduction 265 196 - 2,798 2,590 Television productions Released 1,109 1,067 In production, development or preproduction 473 316 1,582 1,383 Total filmed entertainment costs, less accumulated amortization (b) 4,380 3,973 Total inventories, net 11,143 10,332 Less: current portion of inventories, net (c) (3,418 ) (3,291 ) Total non-current inventories, net $ 7,725 $ 7,041 (a) Other includes DVDs, Blu-rays and other merchandise. (b) Does not include $249 million and $273 million of net intangible film library costs as of March 31, 2017 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 March 31, 2017 and June 30, 2016 was comprised of programming rights ($3,337 million and $3,212 million, respectively), DVDs, Blu-rays and other merchandise.

Investments

Investments	9 Months Ended
	Mar. 31, 2017
Investments [Abstract]
Investments	NOTE 4. INVESTMENTS The Company’s investments were comprised of the following: Ownership percentage as of March 31, 2017 As of March 31, 2017 As of June 30, 2016 (in millions) Sky (a)(b) European direct broadcast satellite operator 39% $ 2,919 $ 2,972 Endemol Shine Group (b) Global multi-platform content provider 50% 264 445 Other investments various 496 446 Total investments $ 3,679 $ 3,863 (a) The Company’s investment in Sky had a market value of $8.2 billion as of March 31, 2017 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 The Company owns an equity interest in Hulu LLC (“Hulu”). In August 2016, 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	9 Months Ended
	Mar. 31, 2017
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 March 31, 2017 and June 30, 2016, there were no assets or liabilities in the Level 1 category. Fair value measurements As of March 31, 2017 Total Level 2 Level 3 (in millions) Assets Derivatives (a) $ 47 $ 47 $ - Other (b) 30 - 30 Liabilities Derivatives (a) (22 ) (22 ) - Redeemable noncontrolling interests (619 ) - (619 ) Total $ (564 ) $ 25 $ (589 ) As of June 30, 2016 Total Level 2 Level 3 (in millions) Assets Derivatives (a) $ 6 $ 6 $ - Liabilities Derivatives (a) (50 ) (50 ) - Other (b) (36 ) - (36 ) Redeemable noncontrolling interests (552 ) - (552 ) Total $ (632 ) $ (44 ) $ (588 ) (a) Represents derivatives associated with the Company’s foreign currency forward and option contracts and interest rate swap contracts. (b) Primarily relates to past acquisitions, including contingent consideration arrangements. Redeemable Noncontrolling Interests 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 March 31, 2017, one minority shareholder’s put right will become exercisable in July 2017 and two minority shareholders’ put rights will become exercisable in March 2018. 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 March 31, 2017 As of June 30, 2016 (in millions) Borrowings Fair value $ 23,141 $ 23,986 Carrying value $ 19,896 $ 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 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. The Company also entered into a foreign currency option contract to limit its foreign currency exchange rate risk in connection with the Proposed Sky Acquisition. For accounting purposes, the option contract does not qualify for hedge accounting and therefore has been treated as an economic hedge (See Note 2 – Acquisitions, Disposals and Other Transactions under the heading “Sky”). As of March 31, 2017 As of June 30, 2016 (in millions) Cash Flow Hedges Notional amount $ 179 $ 409 Fair value $ (18 ) $ (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 two years. As of March 31, 2017 As of June 30, 2016 (in millions) Economic Hedges Notional amount (a) $ 12,370 $ 44 Fair value (a) $ 42 $ - (a) Includes the foreign currency option contract to limit the foreign currency exchange rate risk in connection with the Proposed Sky Acquisition. The foreign currency option contract has a notional amount of $12.3 billion and consists of the foreign currency option and a premium payable of approximately $175 million due on the option expiration date. As of March 31, 2017, the foreign currency option had a fair value of $42 million. 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 March 31, 2017 As of June 30, 2016 (in millions) Cash Flow Hedges Notional amount $ 676 $ 701 Fair value $ 1 $ (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 March 31, 2017 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 March 31, 2017, the Company did not anticipate nonperformance by any of the counterparties.

Borrowings

Borrowings	9 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Borrowings	NOTE 6. BORROWINGS As of March 31, 2017 As of June 30, 2016 (in millions) Bank loans $ 1,337 $ 1,446 Public debt Predecessor indentures 10,179 10,579 Senior notes issued under August 2009 indenture 8,550 7,700 Total public debt 18,729 18,279 Total principal amount 20,066 19,725 Less: unamortized discount and debt issuance costs (a) (170 ) (172 ) Total borrowings 19,896 19,553 Less: current borrowings (107 ) (427 ) Non-current borrowings $ 19,789 $ 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. Senior Notes Issued In November 2016, 21CFA issued $450 million of 3.375% Senior Notes due 2026 and $400 million of 4.750% Senior Notes due 2046. The net proceeds of $842 million are being used for general corporate purposes. Senior Notes Retired In October 2016, the Company retired $400 million of 8.00% Senior Notes. Current Borrowings As of March 31, 2017, principal payments on the Yankees Entertainment and Sports Network term loan facility of $107 million that are due in the next 12 months are recorded in Borrowings within Current liabilities. Revolving Credit Agreement In May 2015, 21CFA entered into a credit agreement (the “Credit Agreement”) among 21CFA as Borrower, the Company as Parent Guarantor, the lenders party thereto, the issuing banks party thereto, JPMorgan Chase Bank, N.A. (“JPMorgan Chase”) and Citibank, N.A. (“Citibank”) as Co-Administrative Agents, JPMorgan Chase as Designated Agent and Bank of America, N.A. (“Bank of America”) as Syndication Agent. The Credit Agreement, which was amended on December 22, 2016, 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. Under the Credit Agreement, the Company may request an increase in the amount of the credit facility up to a maximum amount of $2.0 billion and the Company may request that the maturity date be extended for up to two additional one-year periods. Borrowings are issuable in U.S. dollars only, while letters of credit are issuable in U.S. dollars or Euros. The material terms of the agreement include the requirement that the Company maintain specific leverage ratios and limitations on secured indebtedness. Fees under the Credit Agreement will be based on the Company’s long-term senior unsecured non-credit enhanced debt ratings. Given the current debt ratings, 21CFA pays a facility fee of 0.125% and an initial drawn cost of LIBOR plus 1.125%. Bridge Credit Agreement See Note 2 – Acquisitions, Disposals and Other Transactions under the heading “Sky”.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Mar. 31, 2017
Stockholders Equity Note [Abstract]
Stockholders' Equity	NOTE 7. STOCKHOLDERS’ EQUITY The following tables summarize changes in stockholders’ equity: For the three months ended March 31, 2017 For the nine months ended March 31, 2017 Twenty-First Century Fox stockholders Noncontrolling interests Total equity Twenty-First Century Fox stockholders Noncontrolling interests Total equity (in millions) Balance, beginning of period $ 14,340 $ 1,215 $ 15,555 $ 13,661 $ 1,220 $ 14,881 Net income 799 28 (a) 827 2,476 105 (a) 2,581 Other comprehensive income (loss) 187 4 191 (51 ) (16 ) (67 ) Issuance (cancellation) of shares, net 1 - 1 (527 ) - (527 ) Dividends declared (333 ) - (333 ) (668 ) - (668 ) Other 23 (12 ) (b) 11 126 (74 ) (b) 52 Balance, end of period $ 15,017 $ 1,235 $ 16,252 $ 15,017 $ 1,235 $ 16,252 For the three months ended March 31, 2016 For the nine months ended March 31, 2016 Twenty-First Century Fox stockholders Noncontrolling interests Total equity Twenty-First Century Fox stockholders Noncontrolling interests Total equity (in millions) Balance, beginning of period $ 14,504 $ 991 $ 15,495 $ 17,220 $ 966 $ 18,186 Net income 841 48 (a) 889 2,188 126 (a) 2,314 Other comprehensive income (loss) 74 - 74 (295 ) - (295 ) Cancellation of shares, net (740 ) - (740 ) (3,897 ) - (3,897 ) Dividends declared (287 ) - (287 ) (586 ) - (586 ) Other 79 40 (b) 119 (159 ) (13 ) (b) (172 ) - Balance, end of period $ 14,471 $ 1,079 $ 15,550 $ 14,471 $ 1,079 $ 15,550 (a) Net income attributable to noncontrolling interests excludes $43 million and $36 million for the three months ended March 31, 2017 and 2016, respectively, and $113 million and $96 million for the nine months ended March 31, 2017 and 2016, respectively, relating to redeemable noncontrolling interests which are reflected in temporary equity. (b) Other activity attributable to noncontrolling interests excludes $(2) million and $(142) million for the three months ended March 31, 2017 and 2016, respectively, and $(46) million and $(206) million for the nine months ended March 31, 2017 and 2016, 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 tables summarize the activity within Other comprehensive income (loss): For the three months ended March 31, 2017 For the nine months ended March 31, 2017 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) $ 111 $ - $ 111 $ (40 ) $ - $ (40 ) Other comprehensive income (loss) $ 111 $ - $ 111 $ (40 ) $ - $ (40 ) Cash flow hedges Unrealized gains $ 1 $ - $ 1 $ 14 $ (5 ) $ 9 Amount reclassified on hedging activity (a) 9 (4 ) 5 16 (6 ) 10 Other comprehensive income $ 10 $ (4 ) $ 6 $ 30 $ (11 ) $ 19 Benefit plan adjustments Unrealized gains (b) $ 104 $ (38 ) $ 66 $ 104 $ (38 ) $ 66 Reclassification adjustments realized in net income (c) 13 (5 ) 8 81 (30 ) 51 Other comprehensive income $ 117 $ (43 ) $ 74 $ 185 $ (68 ) $ 117 Equity method investments Unrealized gains (losses) and reclassifications $ 5 $ (5 ) $ - $ (218 ) $ 55 $ (163 ) Other comprehensive income (loss) $ 5 $ (5 ) $ - $ (218 ) $ 55 $ (163 ) For the three months ended March 31, 2016 For the nine months ended March 31, 2016 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) $ 42 $ - $ 42 $ (125 ) $ 2 $ (123 ) Other comprehensive income (loss) $ 42 $ - $ 42 $ (125 ) $ 2 $ (123 ) Cash flow hedges Unrealized losses $ (40 ) $ 15 $ (25 ) $ (19 ) $ 7 $ (12 ) Amount reclassified on hedging activity (a) 11 (6 ) 5 14 (6 ) 8 Other comprehensive loss $ (29 ) $ 9 $ (20 ) $ (5 ) $ 1 $ (4 ) Losses on securities Amount reclassified on sale of securities (d) $ - $ - $ - $ (7 ) $ 3 $ (4 ) Other comprehensive loss $ - $ - $ - $ (7 ) $ 3 $ (4 ) Benefit plan adjustments Unrealized losses $ - $ - $ - $ (2 ) $ - $ (2 ) Reclassification adjustments realized in net income (c) 9 (4 ) 5 26 (9 ) 17 Other comprehensive income $ 9 $ (4 ) $ 5 $ 24 $ (9 ) $ 15 Equity method investments Unrealized gains (losses) and reclassifications $ 56 $ (9 ) $ 47 $ (154 ) $ (25 ) $ (179 ) Other comprehensive income (loss) $ 56 $ (9 ) $ 47 $ (154 ) $ (25 ) $ (179 ) (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 and nine months ended March 31, 2017 and 2016 (See Note 5 – Fair Value for additional information regarding hedging activity). (b) For the three and nine months ended March 31, 2017, the Company recorded a net unrealized actuarial gain from the remeasurement of its pension plan. (c) Reclassifications of amounts related to benefit plan adjustments are included in Selling, general and administrative expenses or Other, net, as appropriate, in the Unaudited Consolidated Statements of Operations for the three and nine months ended March 31, 2017 and 2016. (d) Reclassifications of amounts related to gains and losses on securities are included in Other, net in the 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 March 31, For the nine months ended March 31, 2017 2016 2017 2016 (in millions) Income from continuing operations $ 882 $ 928 $ 2,713 $ 2,418 Less: Net income attributable to noncontrolling interests (71 ) (84 ) (218 ) (222 ) Income from continuing operations attributable to Twenty-First Century Fox stockholders $ 811 $ 844 $ 2,495 $ 2,196 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 March 31, 2017, the Company’s remaining buyback authorization was approximately $3.1 billion representing approximately $110 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 March 31, For the nine months ended March 31, 2017 2016 2017 2016 Cash dividend per share $ 0.18 $ 0.15 $ 0.36 $ 0.30 The Company declared a dividend of $0.18 per share on both the Class A Common Stock and Class B Common Stock in the three months ended March 31, 2017, which was paid in April 2017 to the stockholders on record as of March 15, 2017.

Equity-Based Compensation

Equity-Based Compensation	9 Months Ended
	Mar. 31, 2017
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 March 31, For the nine months ended March 31, 2017 2016 2017 2016 (in millions) Equity-based compensation $ 35 $ 34 $ 97 $ 158 Intrinsic value of all settled equity-based awards $ 1 $ 2 $ 70 $ 192 = Tax benefit on vested equity-based awards $ - $ - $ 25 $ 69 As of March 31, 2017, the Company’s total estimated compensation cost related to equity-based awards, not yet recognized, was approximately $150 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 nine months ended March 31, 2017, approximately 7.4 million performance stock units (“PSUs”) were granted and approximately 2.6 million PSUs vested. During the nine months ended March 31, 2016, approximately 6.2 million PSUs were granted and approximately 5.9 million PSUs vested.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Mar. 31, 2017
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 March 31, 2017 and June 30, 2016 were approximately $80 billion and $84 billion, respectively. The decrease from June 30, 2016 was primarily due to payments related to sports programming rights. In addition, the Company has made an offer to purchase the fully diluted share capital of Sky which the Company does not already own (See Note 2 – Acquisitions, Disposals and Other Transactions under the heading “Sky”). Contingent Guarantees The Company’s contingent guarantees as of March 31, 2017 have not changed significantly from disclosures included in the 2016 Form 10-K. Included in the Company’s contingent guarantees as of March 31, 2017 and June 30, 2016 is $115 million of Hulu’s $338 million five-year term loan which is due in October 2017. 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., 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 Fox News Channel The Company and certain of its current and former employees have been subject to allegations of sexual harassment and discrimination relating to alleged misconduct at the Company’s Fox News Channel business. The Company has settled some of these claims and is contesting other claims in litigation. To date, none of the amounts paid in settlements or reserved for pending or future claims, is individually or in the aggregate, material to the Company. The Company has also received regulatory and investigative inquiries relating to these matters and stockholder demands to inspect the books and records of the Company which could lead to future litigation. Due to the early stage of these matters, the amount of liability, if any, that may result from these or related matters cannot be estimated at this time. However, the Company does not currently anticipate that the ultimate resolution of any such pending matters will have a material adverse effect on its consolidated financial condition, future results of operations or liquidity. Since the allegations of misconduct in July 2016, the CEO of Fox News Channel has resigned and there have been significant changes in the management of the business unit. In addition, the network’s primetime lineup has significantly changed which could have a negative impact on our ratings. 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	9 Months Ended
	Mar. 31, 2017
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”), nine 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, Impairment and restructuring charges, Equity (losses) 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. The following table reconciles Income from continuing operations before income tax expense to Total Segment OIBDA for the three and nine months ended March 31, 2017 and 2016: For the three months ended March 31, For the nine months ended March 31, 2017 2016 2017 2016 (in millions) Income from continuing operations before income tax expense $ 1,252 $ 1,391 $ 3,874 $ 3,608 Add Amortization of cable distribution investments 15 18 46 53 Depreciation and amortization 140 133 410 391 Impairment and restructuring charges 37 15 213 46 Equity losses (earnings) of affiliates 51 9 57 (38 ) Interest expense, net 310 295 909 888 Interest income (9 ) (12 ) (27 ) (28 ) Other, net 142 32 241 226 Total Segment OIBDA $ 1,938 $ 1,881 $ 5,723 $ 5,146 The following tables set forth the Company’s Revenues and Segment OIBDA for the three and nine months ended March 31, 2017 and 2016: For the three months ended March 31, For the nine months ended March 31, 2017 2016 2017 2016 (in millions) Revenues Cable Network Programming $ 4,024 $ 3,941 $ 11,801 $ 11,108 Television 1,690 1,299 4,646 4,064 Filmed Entertainment 2,256 2,321 6,432 6,467 Other, Corporate and Eliminations (406 ) (333 ) (1,127 ) (959 ) Total revenues $ 7,564 $ 7,228 $ 21,752 $ 20,680 Segment OIBDA Cable Network Programming $ 1,446 $ 1,375 $ 4,160 $ 3,931 Television 190 125 757 600 Filmed Entertainment 373 470 1,073 921 Other, Corporate and Eliminations (71 ) (89 ) (267 ) (306 ) Total Segment OIBDA $ 1,938 $ 1,881 $ 5,723 $ 5,146 Intersegment revenues, generated by the Filmed Entertainment segment, of $407 million and $315 million for the three months ended March 31, 2017 and 2016, respectively, and of $1,085 million and $878 million for the nine months ended March 31, 2017 and 2016, respectively, have been eliminated within the Other, Corporate and Eliminations segment. For the three months ended March 31, For the nine months ended March 31, 2017 2016 2017 2016 (in millions) Depreciation and amortization Cable Network Programming $ 87 $ 79 $ 252 $ 229 Television 28 29 85 88 Filmed Entertainment 19 20 59 60 Other, Corporate and Eliminations 6 5 14 14 Total depreciation and amortization $ 140 $ 133 $ 410 $ 391 Depreciation and amortization includes the amortization of definite lived intangible assets of $62 million and $64 million he three months ended March 31, 2017 and 2016, respectively, and $192 million and $182 million for the nine months ended March 31, 2017 and 2016, respectively. As of March 31, 2017 As of June 30, 2016 (in millions) Assets Cable Network Programming $ 25,090 $ 24,974 Television 7,247 6,959 Filmed Entertainment 10,695 9,579 Other, Corporate and Eliminations 3,973 2,818 Investments 3,679 3,863 Total assets $ 50,684 $ 48,193 Revenues by Component For the three months ended March 31, For the nine months ended March 31, 2017 2016 2017 2016 (in millions) Revenues Affiliate fees $ 3,160 $ 2,939 $ 8,989 $ 8,321 Advertising 2,203 1,907 6,338 5,950 Content 2,078 2,288 5,979 6,046 Other 123 94 446 363 Total revenues $ 7,564 $ 7,228 $ 21,752 $ 20,680

Additional Financial Informatio

Additional Financial Information	9 Months Ended
	Mar. 31, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Additional Financial Information	NOTE 11. ADDITIONAL FINANCIAL INFORMATION Impairment and restructuring charges Impairment and restructuring charges of $37 million and $213 million for the three and nine months ended March 31, 2017, respectively, are primarily comprised of costs in connection with management and employee transitions and restructuring at several of the Company’s business units and impairment charges related to certain of the Company’s programming rights. Other, net The following table sets forth the components of Other, net included in the Unaudited Consolidated Statements of Operations: For the three months ended March 31, For the nine months ended March 31, 2017 2016 2017 2016 (in millions) Acquisition related and other transaction costs (a) $ (137 ) $ - $ (170 ) $ (66 ) Investment impairment losses (b) - - - (99 ) Other (c) (5 ) (32 ) (71 ) (61 ) Total other, net $ (142 ) $ (32 ) $ (241 ) $ (226 ) (a) The acquisition related and other transaction costs for the three and nine months ended March 31, 2017 primarily represent the change in fair value of a foreign currency option contract to limit the foreign currency exchange rate risk in connection with the Proposed Sky Acquisition (See Note 2 – Acquisitions, Disposals and Other Transactions under the heading “Sky” for further discussion). The acquisition related costs for the nine months ended March 31, 2016 are primarily due to the revision of a contingency estimate related to a past acquisition. (b) See Note 7 – Investments in the 2016 Form 10-K under the heading “Other” for further discussion. (c) Other for the three and nine months ended March 31, 2017 included approximately $10 million and $45 million, respectively, 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. 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 March 31, 2017 and June 30, 2016 were $552 million and $576 million, respectively. Supplemental Cash Flows Information For the nine months ended March 31, 2017 2016 (in millions) Supplemental cash flows information Cash paid for income taxes $ (747 ) $ (586 ) Cash paid for interest $ (890 ) $ (873 ) Supplemental information on acquisitions and additional investments Fair value of assets acquired $ - $ 1,199 Cash acquired - 8 Liabilities assumed - (110 ) Cash paid - (916 ) Fair value of equity instruments issued to third parties (a) - 181 Issuance of subsidiary common units - (181 ) Fair value of equity instruments consideration $ - $ - (a) Includes Redeemable noncontrolling interests.

Supplemental Guarantor Informat

Supplemental Guarantor Information	9 Months Ended
	Mar. 31, 2017
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 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 (See Note 6 – Borrowings). 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 March 31, 2017 (in millions) 21st Fox America, Inc. Twenty-First Century Fox Non-Guarantor Reclassifications and Eliminations Twenty-First Century Fox and Subsidiaries Revenues $ 1 $ - $ 7,563 $ - $ 7,564 Expenses (90 ) - (5,728 ) - (5,818 ) Equity losses of affiliates - - (51 ) - (51 ) Interest expense, net (423 ) (195 ) (19 ) 327 (310 ) Interest income 1 3 332 (327 ) 9 Earnings from subsidiary entities 1,883 1,002 - (2,885 ) - Other, net (140 ) 1 (3 ) - (142 ) Income from continuing operations before income tax expense 1,232 811 2,094 (2,885 ) 1,252 Income tax expense (365 ) - (620 ) 615 (370 ) Income from continuing operations 867 811 1,474 (2,270 ) 882 Loss from discontinued operations, net of tax - (12 ) - - (12 ) Net income 867 799 1,474 (2,270 ) 870 Less: Net income attributable to noncontrolling interests - - (71 ) - (71 ) Net income attributable to Twenty-First Century Fox stockholders $ 867 $ 799 $ 1,403 $ (2,270 ) $ 799 Comprehensive income attributable to Twenty-First Century Fox stockholders $ 1,005 $ 986 $ 1,578 $ (2,583 ) $ 986 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 March 31, 2016 (in millions) 21st Century Fox America, Inc. Twenty-First Century Fox Non-Guarantor Reclassifications and Eliminations Twenty-First Century Fox and Subsidiaries Revenues $ 1 $ - $ 7,227 $ - $ 7,228 Expenses (88 ) - (5,425 ) - (5,513 ) Equity losses of affiliates (1 ) - (8 ) - (9 ) Interest expense, net (408 ) (179 ) (17 ) 309 (295 ) Interest income 5 1 315 (309 ) 12 Earnings from subsidiary entities 1,570 1,022 - (2,592 ) - Other, net (6 ) - (26 ) - (32 ) Income from continuing operations before income tax expense 1,073 844 2,066 (2,592 ) 1,391 Income tax expense (358 ) - (689 ) 584 (463 ) Income from continuing operations 715 844 1,377 (2,008 ) 928 Loss from discontinued operations, net of tax - (3 ) - - (3 ) Net income 715 841 1,377 (2,008 ) 925 Less: Net income attributable to noncontrolling interests - - (84 ) - (84 ) Net income attributable to Twenty-First Century Fox stockholders $ 715 $ 841 $ 1,293 $ (2,008 ) $ 841 Comprehensive income attributable to Twenty-First Century Fox stockholders $ 703 $ 915 $ 1,415 $ (2,118 ) $ 915 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 nine months ended March 31, 2017 (in millions) 21st Century Fox America, Inc. Twenty-First Century Fox Non-Guarantor Reclassifications and Eliminations Twenty-First Century Fox and Subsidiaries Revenues $ 1 $ - $ 21,751 $ - $ 21,752 Expenses (328 ) - (16,370 ) - (16,698 ) Equity losses of affiliates (1 ) - (56 ) - (57 ) Interest expense, net (1,246 ) (572 ) (58 ) 967 (909 ) Interest income 3 4 987 (967 ) 27 Earnings from subsidiary entities 5,358 3,062 - (8,420 ) - Other, net (226 ) 1 (16 ) - (241 ) Income from continuing operations before income tax expense 3,561 2,495 6,238 (8,420 ) 3,874 Income tax expense (1,067 ) - (1,870 ) 1,776 (1,161 ) Income from continuing operations 2,494 2,495 4,368 (6,644 ) 2,713 Loss from discontinued operations, net of tax - (19 ) - - (19 ) Net income 2,494 2,476 4,368 (6,644 ) 2,694 Less: Net income attributable to noncontrolling interests - - (218 ) - (218 ) Net income attributable to Twenty-First Century Fox stockholders $ 2,494 $ 2,476 $ 4,150 $ (6,644 ) $ 2,476 Comprehensive income attributable to Twenty-First Century Fox stockholders $ 2,249 $ 2,425 $ 4,011 $ (6,260 ) $ 2,425 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 nine months ended March 31, 2016 (in millions) 21st Century Fox America, Inc. Twenty-First Century Fox Non-Guarantor Reclassifications and Eliminations Twenty-First Century Fox and Subsidiaries Revenues $ 1 $ - $ 20,679 $ - $ 20,680 Expenses (283 ) - (15,741 ) - (16,024 ) Equity (losses) earnings of affiliates (2 ) - 40 - 38 Interest expense, net (1,212 ) (532 ) (56 ) 912 (888 ) Interest income 6 3 931 (912 ) 28 Earnings from subsidiary entities 4,803 2,725 - (7,528 ) - Other, net (114 ) - (112 ) - (226 ) - Income from continuing operations before income tax expense 3,199 2,196 5,741 (7,528 ) 3,608 Income tax expense (1,055 ) - (1,894 ) 1,759 (1,190 ) - Income from continuing operations 2,144 2,196 3,847 (5,769 ) 2,418 Loss from discontinued operations, net of tax - (8 ) - - (8 ) - Net income 2,144 2,188 3,847 (5,769 ) 2,410 Less: Net income attributable to noncontrolling interests - - (222 ) - (222 ) - Net income attributable to Twenty-First Century Fox stockholders $ 2,144 $ 2,188 $ 3,625 $ (5,769 ) $ 2,188 $ - Comprehensive income attributable to Twenty-First Century Fox stockholders $ 1,657 $ 1,893 $ 3,301 $ (4,958 ) $ 1,893 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 March 31, 2017 (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 $ 49 $ 4,166 $ 1,357 $ - $ 5,572 Receivables, net 13 - 7,207 (1 ) 7,219 Inventories, net - - 3,418 - 3,418 Other 67 - 462 - 529 Total current assets 129 4,166 12,444 (1 ) 16,738 Non-current assets Receivables, net 15 - 523 - 538 Inventories, net - - 7,725 - 7,725 Property, plant and equipment, net 230 - 1,461 - 1,691 Intangible assets, net - - 6,579 - 6,579 Goodwill - - 12,733 - 12,733 Other non-current assets 252 - 749 - 1,001 Investments Investments in associated companies and other investments 174 37 3,468 - 3,679 Intragroup investments 104,343 58,994 - (163,337 ) - Total investments 104,517 59,031 3,468 (163,337 ) 3,679 Total assets $ 105,143 $ 63,197 $ 45,682 $ (163,338 ) $ 50,684 LIABILITIES AND EQUITY Current liabilities Borrowings $ - $ - $ 107 $ - $ 107 Other current liabilities 620 386 6,344 (1 ) 7,349 Total current liabilities 620 386 6,451 (1 ) 7,456 Non-current liabilities Borrowings 18,563 - 1,226 - 19,789 Other non-current liabilities 535 - 6,033 - 6,568 Intercompany 38,926 47,794 (86,720 ) - - Redeemable noncontrolling interests - - 619 - 619 Total equity 46,499 15,017 118,073 (163,337 ) 16,252 Total liabilities and equity $ 105,143 $ 63,197 $ 45,682 $ (163,338 ) $ 50,684 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 nine months ended March 31, 2017 (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 $ (884 ) $ 3,121 $ 181 $ - $ 2,418 INVESTING ACTIVITIES Property, plant and equipment (10 ) - (192 ) - (202 ) Investments (95 ) - (71 ) - (166 ) Net cash used in investing activities from continuing operations (105 ) - (263 ) - (368 ) FINANCING ACTIVITIES Borrowings 842 - 37 - 879 Repayment of borrowings (400 ) - (146 ) - (546 ) Repurchase of shares - (619 ) - - (619 ) Dividends paid and distributions - (335 ) (187 ) - (522 ) Other financing activities, net (44 ) (20 ) 1 - (63 ) Net cash provided by (used in) financing activities from continuing operations 398 (974 ) (295 ) - (871 ) Discontinued operations Net decrease in cash and cash equivalents from discontinued operations (21 ) - - - (21 ) Net (decrease) increase in cash and cash equivalents (612 ) 2,147 (377 ) - 1,158 Cash and cash equivalents, beginning of year 661 2,019 1,744 - 4,424 Exchange movement on cash balances - - (10 ) - (10 ) Cash and cash equivalents, end of period $ 49 $ 4,166 $ 1,357 $ - $ 5,572 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 nine months ended March 31, 2016 (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 (used in) provided by operating activities from continuing operations $ (585 ) $ 1,569 $ 1,028 $ - $ 2,012 INVESTING ACTIVITIES Property, plant and equipment (5 ) - (151 ) - (156 ) Investments (185 ) (586 ) (453 ) - (1,224 ) Net cash used in investing activities from continuing operations (190 ) (586 ) (604 ) - (1,380 ) FINANCING ACTIVITIES Borrowings 987 - 208 - 1,195 Repayment of borrowings (200 ) - (302 ) - (502 ) Repurchase of shares - (3,958 ) - - (3,958 ) Dividends paid and distributions - (299 ) (166 ) - (465 ) Purchase of subsidiary shares from noncontrolling interests - (56 ) (231 ) - (287 ) Other financing activities, net - 11 - - 11 Net cash provided by (used in) financing activities from continuing operations 787 (4,302 ) (491 ) - (4,006 ) Discontinued operations Net decrease in cash and cash equivalents from discontinued operations (15 ) - - - (15 ) Net decrease in cash and cash equivalents (3 ) (3,319 ) (67 ) - (3,389 ) Cash and cash equivalents, beginning of year 767 5,913 1,748 - 8,428 Exchange movement on cash balances - - (46 ) - (46 ) Cash and cash equivalents, end of period $ 764 $ 2,594 $ 1,635 $ - $ 4,993 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. 1

Summary of Significant Accounti

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Mar. 31, 2017
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 to 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. In October 2016, the FASB issued ASU 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory” (“ASU 2016-16”). ASU 2016-16 requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory. ASU 2016-16 is effective for the Company for annual and interim reporting periods beginning July 1, 2018. The Company is currently evaluating the impact ASU 2016-16 will have on its consolidated financial statements. In January 2017, the FASB issued ASU 2017-01, “Business Combinations (Topic 805): Clarifying the Definition of a Business” (“ASU 2017-01”). The objective of ASU 2017-01 is to clarify the definition of a business in order to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill and consolidation. ASU 2017-01 is effective for the Company for annual and interim reporting periods beginning July 1, 2018. The Company is currently evaluating the impact ASU 2017-01 will have on its consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, “Intangibles–Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment” (“ASU 2017-04”). The objective of ASU 2017-04 is to simplify how an entity is required to test goodwill for impairment. Under current GAAP, entities are required to test goodwill for impairment using a two-step approach. Under the amendments in ASU 2017-04, an entity should perform its goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. ASU 2017-04 is effective for the Company for annual and interim reporting periods beginning July 1, 2020. The Company is currently evaluating the impact ASU 2017-04 will have on its consolidated financial statements. In March 2017, the FASB issued ASU 2017-07, “Compensation–Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost” (“ASU 2017-07”). ASU 2017-07 requires an employer to report the service cost component of net benefit cost in the same line item as other compensation costs arising from services rendered by the pertinent employees during the period. The other components of net benefit cost are required to be presented in the income statement separately from the service cost component and outside a subtotal of income from operations. In addition, ASU 2017-07 allows only the service cost component to be eligible for capitalization when applicable. ASU 2017-07 is effective for the Company for annual and interim reporting periods beginning July 1, 2018. Early adoption is permitted from July 1, 2017. The Company is currently evaluating the impact ASU 2017-07 will have on its consolidated financial statements. 1
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 March 31, 2017 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 March 31, 2017, 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)	9 Months Ended
	Mar. 31, 2017
Inventory Disclosure [Abstract]
Schedule of Inventories, Net	The Company’s inventories were comprised of the following: As of March 31, 2017 As of June 30, 2016 (in millions) Programming rights and other (a) $ 6,763 $ 6,359 Filmed entertainment costs Films Released or completed 1,320 1,569 In production 1,213 825 In development or preproduction 265 196 - 2,798 2,590 Television productions Released 1,109 1,067 In production, development or preproduction 473 316 1,582 1,383 Total filmed entertainment costs, less accumulated amortization (b) 4,380 3,973 Total inventories, net 11,143 10,332 Less: current portion of inventories, net (c) (3,418 ) (3,291 ) Total non-current inventories, net $ 7,725 $ 7,041 (a) Other includes DVDs, Blu-rays and other merchandise. (b) Does not include $249 million and $273 million of net intangible film library costs as of March 31, 2017 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 March 31, 2017 and June 30, 2016 was comprised of programming rights ($3,337 million and $3,212 million, respectively), DVDs, Blu-rays and other merchandise.

Investments (Tables)

Investments (Tables)	9 Months Ended
	Mar. 31, 2017
Investments [Abstract]
Schedule of Investments	The Company’s investments were comprised of the following: Ownership percentage as of March 31, 2017 As of March 31, 2017 As of June 30, 2016 (in millions) Sky (a)(b) European direct broadcast satellite operator 39% $ 2,919 $ 2,972 Endemol Shine Group (b) Global multi-platform content provider 50% 264 445 Other investments various 496 446 Total investments $ 3,679 $ 3,863 (a) The Company’s investment in Sky had a market value of $8.2 billion as of March 31, 2017 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)	9 Months Ended
	Mar. 31, 2017
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 March 31, 2017 and June 30, 2016, there were no assets or liabilities in the Level 1 category. Fair value measurements As of March 31, 2017 Total Level 2 Level 3 (in millions) Assets Derivatives (a) $ 47 $ 47 $ - Other (b) 30 - 30 Liabilities Derivatives (a) (22 ) (22 ) - Redeemable noncontrolling interests (619 ) - (619 ) Total $ (564 ) $ 25 $ (589 ) As of June 30, 2016 Total Level 2 Level 3 (in millions) Assets Derivatives (a) $ 6 $ 6 $ - Liabilities Derivatives (a) (50 ) (50 ) - Other (b) (36 ) - (36 ) Redeemable noncontrolling interests (552 ) - (552 ) Total $ (632 ) $ (44 ) $ (588 ) (a) Represents derivatives associated with the Company’s foreign currency forward and option contracts and interest rate swap contracts. (b) Primarily relates to past acquisitions, including contingent consideration arrangements.
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 March 31, 2017 As of June 30, 2016 (in millions) Borrowings Fair value $ 23,141 $ 23,986 Carrying value $ 19,896 $ 19,553
Foreign Currency 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. The Company also entered into a foreign currency option contract to limit its foreign currency exchange rate risk in connection with the Proposed Sky Acquisition. For accounting purposes, the option contract does not qualify for hedge accounting and therefore has been treated as an economic hedge (See Note 2 – Acquisitions, Disposals and Other Transactions under the heading “Sky”). As of March 31, 2017 As of June 30, 2016 (in millions) Cash Flow Hedges Notional amount $ 179 $ 409 Fair value $ (18 ) $ (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 two years. As of March 31, 2017 As of June 30, 2016 (in millions) Economic Hedges Notional amount (a) $ 12,370 $ 44 Fair value (a) $ 42 $ - (a) Includes the foreign currency option contract to limit the foreign currency exchange rate risk in connection with the Proposed Sky Acquisition. The foreign currency option contract has a notional amount of $12.3 billion and consists of the foreign currency option and a premium payable of approximately $175 million due on the option expiration date. As of March 31, 2017, the foreign currency option had a fair value of $42 million.
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 March 31, 2017 As of June 30, 2016 (in millions) Cash Flow Hedges Notional amount $ 676 $ 701 Fair value $ 1 $ (19 )

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Mar. 31, 2017
Debt Disclosure [Abstract]
Schedule of Borrowings	As of March 31, 2017 As of June 30, 2016 (in millions) Bank loans $ 1,337 $ 1,446 Public debt Predecessor indentures 10,179 10,579 Senior notes issued under August 2009 indenture 8,550 7,700 Total public debt 18,729 18,279 Total principal amount 20,066 19,725 Less: unamortized discount and debt issuance costs (a) (170 ) (172 ) Total borrowings 19,896 19,553 Less: current borrowings (107 ) (427 ) Non-current borrowings $ 19,789 $ 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)	9 Months Ended
	Mar. 31, 2017
Stockholders Equity Note [Abstract]
Schedule of Changes in Stockholders' Equity	The following tables summarize changes in stockholders’ equity: For the three months ended March 31, 2017 For the nine months ended March 31, 2017 Twenty-First Century Fox stockholders Noncontrolling interests Total equity Twenty-First Century Fox stockholders Noncontrolling interests Total equity (in millions) Balance, beginning of period $ 14,340 $ 1,215 $ 15,555 $ 13,661 $ 1,220 $ 14,881 Net income 799 28 (a) 827 2,476 105 (a) 2,581 Other comprehensive income (loss) 187 4 191 (51 ) (16 ) (67 ) Issuance (cancellation) of shares, net 1 - 1 (527 ) - (527 ) Dividends declared (333 ) - (333 ) (668 ) - (668 ) Other 23 (12 ) (b) 11 126 (74 ) (b) 52 Balance, end of period $ 15,017 $ 1,235 $ 16,252 $ 15,017 $ 1,235 $ 16,252 For the three months ended March 31, 2016 For the nine months ended March 31, 2016 Twenty-First Century Fox stockholders Noncontrolling interests Total equity Twenty-First Century Fox stockholders Noncontrolling interests Total equity (in millions) Balance, beginning of period $ 14,504 $ 991 $ 15,495 $ 17,220 $ 966 $ 18,186 Net income 841 48 (a) 889 2,188 126 (a) 2,314 Other comprehensive income (loss) 74 - 74 (295 ) - (295 ) Cancellation of shares, net (740 ) - (740 ) (3,897 ) - (3,897 ) Dividends declared (287 ) - (287 ) (586 ) - (586 ) Other 79 40 (b) 119 (159 ) (13 ) (b) (172 ) - Balance, end of period $ 14,471 $ 1,079 $ 15,550 $ 14,471 $ 1,079 $ 15,550 (a) Net income attributable to noncontrolling interests excludes $43 million and $36 million for the three months ended March 31, 2017 and 2016, respectively, and $113 million and $96 million for the nine months ended March 31, 2017 and 2016, respectively, relating to redeemable noncontrolling interests which are reflected in temporary equity. (b) Other activity attributable to noncontrolling interests excludes $(2) million and $(142) million for the three months ended March 31, 2017 and 2016, respectively, and $(46) million and $(206) million for the nine months ended March 31, 2017 and 2016, respectively, relating to redeemable noncontrolling interests.
Schedule of Activity within Other Comprehensive Income (Loss)	The following tables summarize the activity within Other comprehensive income (loss): For the three months ended March 31, 2017 For the nine months ended March 31, 2017 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) $ 111 $ - $ 111 $ (40 ) $ - $ (40 ) Other comprehensive income (loss) $ 111 $ - $ 111 $ (40 ) $ - $ (40 ) Cash flow hedges Unrealized gains $ 1 $ - $ 1 $ 14 $ (5 ) $ 9 Amount reclassified on hedging activity (a) 9 (4 ) 5 16 (6 ) 10 Other comprehensive income $ 10 $ (4 ) $ 6 $ 30 $ (11 ) $ 19 Benefit plan adjustments Unrealized gains (b) $ 104 $ (38 ) $ 66 $ 104 $ (38 ) $ 66 Reclassification adjustments realized in net income (c) 13 (5 ) 8 81 (30 ) 51 Other comprehensive income $ 117 $ (43 ) $ 74 $ 185 $ (68 ) $ 117 Equity method investments Unrealized gains (losses) and reclassifications $ 5 $ (5 ) $ - $ (218 ) $ 55 $ (163 ) Other comprehensive income (loss) $ 5 $ (5 ) $ - $ (218 ) $ 55 $ (163 ) For the three months ended March 31, 2016 For the nine months ended March 31, 2016 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) $ 42 $ - $ 42 $ (125 ) $ 2 $ (123 ) Other comprehensive income (loss) $ 42 $ - $ 42 $ (125 ) $ 2 $ (123 ) Cash flow hedges Unrealized losses $ (40 ) $ 15 $ (25 ) $ (19 ) $ 7 $ (12 ) Amount reclassified on hedging activity (a) 11 (6 ) 5 14 (6 ) 8 Other comprehensive loss $ (29 ) $ 9 $ (20 ) $ (5 ) $ 1 $ (4 ) Losses on securities Amount reclassified on sale of securities (d) $ - $ - $ - $ (7 ) $ 3 $ (4 ) Other comprehensive loss $ - $ - $ - $ (7 ) $ 3 $ (4 ) Benefit plan adjustments Unrealized losses $ - $ - $ - $ (2 ) $ - $ (2 ) Reclassification adjustments realized in net income (c) 9 (4 ) 5 26 (9 ) 17 Other comprehensive income $ 9 $ (4 ) $ 5 $ 24 $ (9 ) $ 15 Equity method investments Unrealized gains (losses) and reclassifications $ 56 $ (9 ) $ 47 $ (154 ) $ (25 ) $ (179 ) Other comprehensive income (loss) $ 56 $ (9 ) $ 47 $ (154 ) $ (25 ) $ (179 ) (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 and nine months ended March 31, 2017 and 2016 (See Note 5 – Fair Value for additional information regarding hedging activity). (b) For the three and nine months ended March 31, 2017, the Company recorded a net unrealized actuarial gain from the remeasurement of its pension plan. (c) Reclassifications of amounts related to benefit plan adjustments are included in Selling, general and administrative expenses or Other, net, as appropriate, in the Unaudited Consolidated Statements of Operations for the three and nine months ended March 31, 2017 and 2016. (d) Reclassifications of amounts related to gains and losses on securities are included in Other, net in the
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 March 31, For the nine months ended March 31, 2017 2016 2017 2016 (in millions) Income from continuing operations $ 882 $ 928 $ 2,713 $ 2,418 Less: Net income attributable to noncontrolling interests (71 ) (84 ) (218 ) (222 ) Income from continuing operations attributable to Twenty-First Century Fox stockholders $ 811 $ 844 $ 2,495 $ 2,196
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 March 31, For the nine months ended March 31, 2017 2016 2017 2016 Cash dividend per share $ 0.18 $ 0.15 $ 0.36 $ 0.30

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	9 Months Ended
	Mar. 31, 2017
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 March 31, For the nine months ended March 31, 2017 2016 2017 2016 (in millions) Equity-based compensation $ 35 $ 34 $ 97 $ 158 Intrinsic value of all settled equity-based awards $ 1 $ 2 $ 70 $ 192 = Tax benefit on vested equity-based awards $ - $ - $ 25 $ 69

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Reconciliation from Income from Continuing Operations Before Income Tax Expense to Total Segment OIBDA	The following table reconciles Income from continuing operations before income tax expense to Total Segment OIBDA for the three and nine months ended March 31, 2017 and 2016: For the three months ended March 31, For the nine months ended March 31, 2017 2016 2017 2016 (in millions) Income from continuing operations before income tax expense $ 1,252 $ 1,391 $ 3,874 $ 3,608 Add Amortization of cable distribution investments 15 18 46 53 Depreciation and amortization 140 133 410 391 Impairment and restructuring charges 37 15 213 46 Equity losses (earnings) of affiliates 51 9 57 (38 ) Interest expense, net 310 295 909 888 Interest income (9 ) (12 ) (27 ) (28 ) Other, net 142 32 241 226 Total Segment OIBDA $ 1,938 $ 1,881 $ 5,723 $ 5,146
Reconciliation of Revenues and Segment OIBDA from Segments to Consolidated	The following tables set forth the Company’s Revenues and Segment OIBDA for the three and nine months ended March 31, 2017 and 2016: For the three months ended March 31, For the nine months ended March 31, 2017 2016 2017 2016 (in millions) Revenues Cable Network Programming $ 4,024 $ 3,941 $ 11,801 $ 11,108 Television 1,690 1,299 4,646 4,064 Filmed Entertainment 2,256 2,321 6,432 6,467 Other, Corporate and Eliminations (406 ) (333 ) (1,127 ) (959 ) Total revenues $ 7,564 $ 7,228 $ 21,752 $ 20,680 Segment OIBDA Cable Network Programming $ 1,446 $ 1,375 $ 4,160 $ 3,931 Television 190 125 757 600 Filmed Entertainment 373 470 1,073 921 Other, Corporate and Eliminations (71 ) (89 ) (267 ) (306 ) Total Segment OIBDA $ 1,938 $ 1,881 $ 5,723 $ 5,146
Reconciliation of Depreciation and Amortization from Segments to Consolidated	For the three months ended March 31, For the nine months ended March 31, 2017 2016 2017 2016 (in millions) Depreciation and amortization Cable Network Programming $ 87 $ 79 $ 252 $ 229 Television 28 29 85 88 Filmed Entertainment 19 20 59 60 Other, Corporate and Eliminations 6 5 14 14 Total depreciation and amortization $ 140 $ 133 $ 410 $ 391
Reconciliation of Assets from Segments to Consolidated	As of March 31, 2017 As of June 30, 2016 (in millions) Assets Cable Network Programming $ 25,090 $ 24,974 Television 7,247 6,959 Filmed Entertainment 10,695 9,579 Other, Corporate and Eliminations 3,973 2,818 Investments 3,679 3,863 Total assets $ 50,684 $ 48,193
Reconciliation of Revenue from Components to Consolidated	Revenues by Component For the three months ended March 31, For the nine months ended March 31, 2017 2016 2017 2016 (in millions) Revenues Affiliate fees $ 3,160 $ 2,939 $ 8,989 $ 8,321 Advertising 2,203 1,907 6,338 5,950 Content 2,078 2,288 5,979 6,046 Other 123 94 446 363 Total revenues $ 7,564 $ 7,228 $ 21,752 $ 20,680

Additional Financial Informat28

Additional Financial Information (Tables)	9 Months Ended
	Mar. 31, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Components of Other, net	The following table sets forth the components of Other, net included in the Unaudited Consolidated Statements of Operations: For the three months ended March 31, For the nine months ended March 31, 2017 2016 2017 2016 (in millions) Acquisition related and other transaction costs (a) $ (137 ) $ - $ (170 ) $ (66 ) Investment impairment losses (b) - - - (99 ) Other (c) (5 ) (32 ) (71 ) (61 ) Total other, net $ (142 ) $ (32 ) $ (241 ) $ (226 ) (a) The acquisition related and other transaction costs for the three and nine months ended March 31, 2017 primarily represent the change in fair value of a foreign currency option contract to limit the foreign currency exchange rate risk in connection with the Proposed Sky Acquisition (See Note 2 – Acquisitions, Disposals and Other Transactions under the heading “Sky” for further discussion). The acquisition related costs for the nine months ended March 31, 2016 are primarily due to the revision of a contingency estimate related to a past acquisition. (b) See Note 7 – Investments in the 2016 Form 10-K under the heading “Other” for further discussion. (c) Other for the three and nine months ended March 31, 2017 included approximately $10 million and $45 million, respectively, 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.
Supplemental Cash Flows Information	For the nine months ended March 31, 2017 2016 (in millions) Supplemental cash flows information Cash paid for income taxes $ (747 ) $ (586 ) Cash paid for interest $ (890 ) $ (873 ) Supplemental information on acquisitions and additional investments Fair value of assets acquired $ - $ 1,199 Cash acquired - 8 Liabilities assumed - (110 ) Cash paid - (916 ) Fair value of equity instruments issued to third parties (a) - 181 Issuance of subsidiary common units - (181 ) Fair value of equity instruments consideration $ - $ - (a) Includes Redeemable noncontrolling interests.

Supplemental Guarantor Inform29

Supplemental Guarantor Information (Tables)	9 Months Ended
	Mar. 31, 2017
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 March 31, 2017 (in millions) 21st Fox America, Inc. Twenty-First Century Fox Non-Guarantor Reclassifications and Eliminations Twenty-First Century Fox and Subsidiaries Revenues $ 1 $ - $ 7,563 $ - $ 7,564 Expenses (90 ) - (5,728 ) - (5,818 ) Equity losses of affiliates - - (51 ) - (51 ) Interest expense, net (423 ) (195 ) (19 ) 327 (310 ) Interest income 1 3 332 (327 ) 9 Earnings from subsidiary entities 1,883 1,002 - (2,885 ) - Other, net (140 ) 1 (3 ) - (142 ) Income from continuing operations before income tax expense 1,232 811 2,094 (2,885 ) 1,252 Income tax expense (365 ) - (620 ) 615 (370 ) Income from continuing operations 867 811 1,474 (2,270 ) 882 Loss from discontinued operations, net of tax - (12 ) - - (12 ) Net income 867 799 1,474 (2,270 ) 870 Less: Net income attributable to noncontrolling interests - - (71 ) - (71 ) Net income attributable to Twenty-First Century Fox stockholders $ 867 $ 799 $ 1,403 $ (2,270 ) $ 799 Comprehensive income attributable to Twenty-First Century Fox stockholders $ 1,005 $ 986 $ 1,578 $ (2,583 ) $ 986 TWENTY-FIRST CENTURY FOX, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS Supplemental Condensed Consolidating Statement of Operations For the three months ended March 31, 2016 (in millions) 21st Century Fox America, Inc. Twenty-First Century Fox Non-Guarantor Reclassifications and Eliminations Twenty-First Century Fox and Subsidiaries Revenues $ 1 $ - $ 7,227 $ - $ 7,228 Expenses (88 ) - (5,425 ) - (5,513 ) Equity losses of affiliates (1 ) - (8 ) - (9 ) Interest expense, net (408 ) (179 ) (17 ) 309 (295 ) Interest income 5 1 315 (309 ) 12 Earnings from subsidiary entities 1,570 1,022 - (2,592 ) - Other, net (6 ) - (26 ) - (32 ) Income from continuing operations before income tax expense 1,073 844 2,066 (2,592 ) 1,391 Income tax expense (358 ) - (689 ) 584 (463 ) Income from continuing operations 715 844 1,377 (2,008 ) 928 Loss from discontinued operations, net of tax - (3 ) - - (3 ) Net income 715 841 1,377 (2,008 ) 925 Less: Net income attributable to noncontrolling interests - - (84 ) - (84 ) Net income attributable to Twenty-First Century Fox stockholders $ 715 $ 841 $ 1,293 $ (2,008 ) $ 841 Comprehensive income attributable to Twenty-First Century Fox stockholders $ 703 $ 915 $ 1,415 $ (2,118 ) $ 915 TWENTY-FIRST CENTURY FOX, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS Supplemental Condensed Consolidating Statement of Operations For the nine months ended March 31, 2017 (in millions) 21st Century Fox America, Inc. Twenty-First Century Fox Non-Guarantor Reclassifications and Eliminations Twenty-First Century Fox and Subsidiaries Revenues $ 1 $ - $ 21,751 $ - $ 21,752 Expenses (328 ) - (16,370 ) - (16,698 ) Equity losses of affiliates (1 ) - (56 ) - (57 ) Interest expense, net (1,246 ) (572 ) (58 ) 967 (909 ) Interest income 3 4 987 (967 ) 27 Earnings from subsidiary entities 5,358 3,062 - (8,420 ) - Other, net (226 ) 1 (16 ) - (241 ) Income from continuing operations before income tax expense 3,561 2,495 6,238 (8,420 ) 3,874 Income tax expense (1,067 ) - (1,870 ) 1,776 (1,161 ) Income from continuing operations 2,494 2,495 4,368 (6,644 ) 2,713 Loss from discontinued operations, net of tax - (19 ) - - (19 ) Net income 2,494 2,476 4,368 (6,644 ) 2,694 Less: Net income attributable to noncontrolling interests - - (218 ) - (218 ) Net income attributable to Twenty-First Century Fox stockholders $ 2,494 $ 2,476 $ 4,150 $ (6,644 ) $ 2,476 Comprehensive income attributable to Twenty-First Century Fox stockholders $ 2,249 $ 2,425 $ 4,011 $ (6,260 ) $ 2,425 TWENTY-FIRST CENTURY FOX, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS Supplemental Condensed Consolidating Statement of Operations For the nine months ended March 31, 2016 (in millions) 21st Century Fox America, Inc. Twenty-First Century Fox Non-Guarantor Reclassifications and Eliminations Twenty-First Century Fox and Subsidiaries Revenues $ 1 $ - $ 20,679 $ - $ 20,680 Expenses (283 ) - (15,741 ) - (16,024 ) Equity (losses) earnings of affiliates (2 ) - 40 - 38 Interest expense, net (1,212 ) (532 ) (56 ) 912 (888 ) Interest income 6 3 931 (912 ) 28 Earnings from subsidiary entities 4,803 2,725 - (7,528 ) - Other, net (114 ) - (112 ) - (226 ) - Income from continuing operations before income tax expense 3,199 2,196 5,741 (7,528 ) 3,608 Income tax expense (1,055 ) - (1,894 ) 1,759 (1,190 ) - Income from continuing operations 2,144 2,196 3,847 (5,769 ) 2,418 Loss from discontinued operations, net of tax - (8 ) - - (8 ) - Net income 2,144 2,188 3,847 (5,769 ) 2,410 Less: Net income attributable to noncontrolling interests - - (222 ) - (222 ) - Net income attributable to Twenty-First Century Fox stockholders $ 2,144 $ 2,188 $ 3,625 $ (5,769 ) $ 2,188 $ - Comprehensive income attributable to Twenty-First Century Fox stockholders $ 1,657 $ 1,893 $ 3,301 $ (4,958 ) $ 1,893
Supplemental Condensed Consolidating Balance Sheets	TWENTY-FIRST CENTURY FOX, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS Supplemental Condensed Consolidating Balance Sheet As of March 31, 2017 (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 $ 49 $ 4,166 $ 1,357 $ - $ 5,572 Receivables, net 13 - 7,207 (1 ) 7,219 Inventories, net - - 3,418 - 3,418 Other 67 - 462 - 529 Total current assets 129 4,166 12,444 (1 ) 16,738 Non-current assets Receivables, net 15 - 523 - 538 Inventories, net - - 7,725 - 7,725 Property, plant and equipment, net 230 - 1,461 - 1,691 Intangible assets, net - - 6,579 - 6,579 Goodwill - - 12,733 - 12,733 Other non-current assets 252 - 749 - 1,001 Investments Investments in associated companies and other investments 174 37 3,468 - 3,679 Intragroup investments 104,343 58,994 - (163,337 ) - Total investments 104,517 59,031 3,468 (163,337 ) 3,679 Total assets $ 105,143 $ 63,197 $ 45,682 $ (163,338 ) $ 50,684 LIABILITIES AND EQUITY Current liabilities Borrowings $ - $ - $ 107 $ - $ 107 Other current liabilities 620 386 6,344 (1 ) 7,349 Total current liabilities 620 386 6,451 (1 ) 7,456 Non-current liabilities Borrowings 18,563 - 1,226 - 19,789 Other non-current liabilities 535 - 6,033 - 6,568 Intercompany 38,926 47,794 (86,720 ) - - Redeemable noncontrolling interests - - 619 - 619 Total equity 46,499 15,017 118,073 (163,337 ) 16,252 Total liabilities and equity $ 105,143 $ 63,197 $ 45,682 $ (163,338 ) $ 50,684 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 nine months ended March 31, 2017 (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 $ (884 ) $ 3,121 $ 181 $ - $ 2,418 INVESTING ACTIVITIES Property, plant and equipment (10 ) - (192 ) - (202 ) Investments (95 ) - (71 ) - (166 ) Net cash used in investing activities from continuing operations (105 ) - (263 ) - (368 ) FINANCING ACTIVITIES Borrowings 842 - 37 - 879 Repayment of borrowings (400 ) - (146 ) - (546 ) Repurchase of shares - (619 ) - - (619 ) Dividends paid and distributions - (335 ) (187 ) - (522 ) Other financing activities, net (44 ) (20 ) 1 - (63 ) Net cash provided by (used in) financing activities from continuing operations 398 (974 ) (295 ) - (871 ) Discontinued operations Net decrease in cash and cash equivalents from discontinued operations (21 ) - - - (21 ) Net (decrease) increase in cash and cash equivalents (612 ) 2,147 (377 ) - 1,158 Cash and cash equivalents, beginning of year 661 2,019 1,744 - 4,424 Exchange movement on cash balances - - (10 ) - (10 ) Cash and cash equivalents, end of period $ 49 $ 4,166 $ 1,357 $ - $ 5,572 TWENTY-FIRST CENTURY FOX, INC. NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS Supplemental Condensed Consolidating Statement of Cash Flows For the nine months ended March 31, 2016 (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 (used in) provided by operating activities from continuing operations $ (585 ) $ 1,569 $ 1,028 $ - $ 2,012 INVESTING ACTIVITIES Property, plant and equipment (5 ) - (151 ) - (156 ) Investments (185 ) (586 ) (453 ) - (1,224 ) Net cash used in investing activities from continuing operations (190 ) (586 ) (604 ) - (1,380 ) FINANCING ACTIVITIES Borrowings 987 - 208 - 1,195 Repayment of borrowings (200 ) - (302 ) - (502 ) Repurchase of shares - (3,958 ) - - (3,958 ) Dividends paid and distributions - (299 ) (166 ) - (465 ) Purchase of subsidiary shares from noncontrolling interests - (56 ) (231 ) - (287 ) Other financing activities, net - 11 - - 11 Net cash provided by (used in) financing activities from continuing operations 787 (4,302 ) (491 ) - (4,006 ) Discontinued operations Net decrease in cash and cash equivalents from discontinued operations (15 ) - - - (15 ) Net decrease in cash and cash equivalents (3 ) (3,319 ) (67 ) - (3,389 ) Cash and cash equivalents, beginning of year 767 5,913 1,748 - 8,428 Exchange movement on cash balances - - (46 ) - (46 ) Cash and cash equivalents, end of period $ 764 $ 2,594 $ 1,635 $ - $ 4,993

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details)	9 Months Ended
	Mar. 31, 2017Segment
Basis of Presentation [Abstract]
Number of Reportable Segments	4

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) £ / shares in Units, $ in Millions	1 Months Ended				9 Months Ended		11 Months Ended	12 Months Ended
	Dec. 31, 2016USD ($)	Dec. 31, 2016GBP (£)	Dec. 31, 2015USD ($)	Nov. 30, 2015USD ($)	Mar. 31, 2017	Mar. 31, 2016USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2017£ / shares	Dec. 31, 2016GBP (£)
Business Acquisition [Line Items]
Business acquisition, cost of acquired entity, cash paid						$ 916
Purchase of subsidiary shares from noncontrolling interests						$ 287
21st Century Fox America, Inc. | Bridge Credit Agreement
Business Acquisition [Line Items]
Line of credit facility, maximum borrowing capacity	$ 15,000									£ 12,200,000,000
Line of credit facility, commitment fee percentage on undrawn funds	0.10%	0.10%
Line of credit facility, duration fee payable on the 90th day after funding of the loans as a percentage of the aggregate principal amount of the advances and undrawn commitments outstanding at that time	0.50%									0.50%
Line of credit facility, duration fee payable on the 180th day after funding of the loans as a percentage of the aggregate principal amount of the advances and undrawn commitments outstanding at that time	0.75%									0.75%
Line of credit facility, duration fee payable on the 270th day after funding of the loans as a percentage of the aggregate principal amount of the advances and undrawn commitments outstanding at that time	1.00%									1.00%
21st Century Fox America, Inc. | Bridge Credit Agreement | London Interbank Offered Rate (LIBOR) | Minimum
Business Acquisition [Line Items]
Line of credit facility, applicable Margin on advances	1.125%	1.125%
21st Century Fox America, Inc. | Bridge Credit Agreement | London Interbank Offered Rate (LIBOR) | Maximum
Business Acquisition [Line Items]
Line of credit facility, applicable Margin on advances	1.875%	1.875%
National Geographic Partners
Business Acquisition [Line Items]
Cash contributed to a consolidated subsidiary				$ 625
Subsidiary Ownership Percentage				73.00%
Purchase of subsidiary shares from noncontrolling interests				$ 55
Scenario, Forecast
Business Acquisition [Line Items]
Proceeds resulting from the Federal Communications Commission's recently completed reverse auction for broadcast spectrum							$ 350
Sky
Business Acquisition [Line Items]
Ownership percentage	39.00%									39.00%
Date of acquisition agreement					Dec. 31, 2016
Sky | Co-Operation Agreement
Business Acquisition [Line Items]
Break fee payable in cash in certain circumstances	$ 250	£ 200,000,000
Sky | Scenario, Forecast
Business Acquisition [Line Items]
Share price | £ / shares									£ 10.75
Business acquisition, cost of acquired entity, cash paid								$ 15,000
Business acquisition, expected to close on or before date								Dec. 31, 2017
NGS Media Business | National Geographic Partners
Business Acquisition [Line Items]
Effective Date of Acquisition					Nov. 30, 2015
Business acquisition purchase price allocation amortizable intangible assets				105
Goodwill and other net assets				$ 60
NGS Media Business | National Geographic Partners | Subscriber Relationships
Business Acquisition [Line Items]
Useful life of amortizable intangible assets				8 years
NGS Media Business | National Geographic Partners | Trademark License
Business Acquisition [Line Items]
Business acquisition purchase price allocation indefinite lived intangible assets				$ 510
MAA Television Network
Business Acquisition [Line Items]
Business acquisition, cost of acquired entity, cash paid			$ 346
Effective Date of Acquisition					Dec. 31, 2015
Allocation of consideration transferred			285
Business acquisition purchase price allocation intangible assets other than goodwill			$ 90
MAA Television Network | Multi-Channel Video Programming Distributor Affiliate Agreements and Relationships
Business Acquisition [Line Items]
Useful life of amortizable intangible assets			11 years
MAA Television Network | Advertiser Relationships
Business Acquisition [Line Items]
Useful life of amortizable intangible assets			8 years
MAA Television Network | Trade Names
Business Acquisition [Line Items]
Useful life of amortizable intangible assets			10 years

Inventories, Net (Schedule of I

Inventories, Net (Schedule of Inventories, Net) (Details) - USD ($) $ in Millions		Mar. 31, 2017	Jun. 30, 2016
Inventory Disclosure [Abstract]
Programming rights and other	[1]	$ 6,763	$ 6,359
Films
Released or completed		1,320	1,569
In production		1,213	825
In development or preproduction		265	196
Films, Total		2,798	2,590
Television productions
Released		1,109	1,067
In production, development or preproduction		473	316
Television productions, Total		1,582	1,383
Total filmed entertainment costs, less accumulated amortization	[2]	4,380	3,973
Total inventories, net		11,143	10,332
Less: current portion of inventories, net	[3]	(3,418)	(3,291)
Total non-current inventories, net		$ 7,725	$ 7,041
[1]	Other includes DVDs, Blu-rays and other merchandise.
[2]	Does not include $249 million and $273 million of net intangible film library costs as of March 31, 2017 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 March 31, 2017 and June 30, 2016 was comprised of programming rights ($3,337 million and $3,212 million, respectively), DVDs, Blu-rays and other merchandise.

Inventories, Net (Schedule of33

Inventories, Net (Schedule of Inventories, Net) (Parenthetical) (Details) - USD ($) $ in Millions		Mar. 31, 2017	Jun. 30, 2016
Inventory [Line Items]
Current portion of inventories, net	[1]	$ 3,418	$ 3,291
Acquired Film Libraries
Inventory [Line Items]
Intangible assets subject to amortization, net		249	273
Programming Rights
Inventory [Line Items]
Current portion of inventories, net		$ 3,337	$ 3,212
[1]	Current portion of inventories, net as of March 31, 2017 and June 30, 2016 was comprised of programming rights ($3,337 million and $3,212 million, respectively), DVDs, Blu-rays and other merchandise.

Investments (Schedule of Invest

Investments (Schedule of Investments) (Details) - USD ($) $ in Millions		Mar. 31, 2017	Jun. 30, 2016
Investment Holdings [Line Items]
Other investments		$ 496	$ 446
Total investments		$ 3,679	3,863
Sky
Investment Holdings [Line Items]
Ownership percentage	[1],[2]	39.00%
Equity method investments	[1],[2]	$ 2,919	2,972
Endemol Shine Group
Investment Holdings [Line Items]
Ownership percentage	[1]	50.00%
Equity method investments	[1]	$ 264	$ 445
[1]	Equity method investment.
[2]	The Company’s investment in Sky had a market value of $8.2 billion as of March 31, 2017 determined using its quoted market price on the London Stock Exchange (a Level 1 measurement as defined in Note 5 – Fair Value). The Company received dividends of approximately $170 million and $210 million from Sky for the nine months ended March 31, 2017 and 2016, respectively. As part of the agreement for the Proposed Sky Acquisition, Sky will not pay any dividends in calendar year 2017 (See Note 2 – Acquisitions, Disposals and Other Transactions under the heading “Sky” for further discussion of this investment).

Investments (Schedule of Inve35

Investments (Schedule of Investments) (Parenthetical) (Details) - USD ($)	9 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2017
Investment Holdings [Line Items]
Cash distributions received from affiliates	$ 182,000,000	$ 225,000,000
Sky
Investment Holdings [Line Items]
Cash distributions received from affiliates	170,000,000	$ 210,000,000
Sky | Scenario, Forecast
Investment Holdings [Line Items]
Cash distributions received from affiliates			$ 0
Quoted Prices in Active Markets for Identical Instruments (Level 1) | Sky
Investment Holdings [Line Items]
Market value of equity method investments	$ 8,200,000,000

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 ($)	9 Months Ended
	Mar. 31, 2017	Jun. 30, 2016
Derivatives Fair Value [Line Items]
Minority shareholder's put right exercisable period	As of March 31, 2017, one minority shareholder’s put right will become exercisable in July 2017 and two minority shareholders’ put rights will become exercisable in March 2018. The remaining redeemable noncontrolling interests are currently not exercisable.
Foreign Currency Cash Flow Hedges [Abstract]
Number of years to reclassify the cumulative change in fair value of cash flow hedges, foreign currency forward and option contracts	2 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	$ (564,000,000)	$ (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		Mar. 31, 2017	Jun. 30, 2016
Liabilities
Redeemable noncontrolling interests		$ (619)	$ (552)
Fair value measurements recurring
Assets
Derivatives	[1]	47	6
Other	[2]	30
Liabilities
Derivatives	[1]	(22)	(50)
Other	[2]		(36)
Redeemable noncontrolling interests		(619)	(552)
Total		(564)	(632)
Fair value measurements recurring | (Level 2)
Assets
Derivatives	[1]	47	6
Liabilities
Derivatives	[1]	(22)	(50)
Total		25	(44)
Fair value measurements recurring | (Level 3)
Assets
Other	[2]	30
Liabilities
Other	[2]		(36)
Redeemable noncontrolling interests		(619)	(552)
Total		$ (589)	$ (588)
[1]	Represents derivatives associated with the Company’s foreign currency forward and option contracts and interest rate swap contracts.
[2]	Primarily relates to past acquisitions, including contingent consideration arrangements.

Fair Value (Borrowings) (Detail

Fair Value (Borrowings) (Details) - USD ($) $ in Millions	Mar. 31, 2017	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair value	$ 23,141	$ 23,986
Carrying value	$ 19,896	$ 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) - USD ($) $ in Millions		Mar. 31, 2017	Jun. 30, 2016
Foreign Currency Forward Contracts | Cash Flow Hedges | Designated as Hedging Instrument
Derivatives Fair Value [Line Items]
Notional amount		$ 179	$ 409
Fair value		(18)	(25)
Foreign Currency Contracts | Economic hedges
Derivatives Fair Value [Line Items]
Notional amount	[1]	12,370	44
Fair value	[1]	$ 42	$ 0
[1]	Includes the foreign currency option contract to limit the foreign currency exchange rate risk in connection with the Proposed Sky Acquisition. The foreign currency option contract has a notional amount of $12.3 billion and consists of the foreign currency option and a premium payable of approximately $175 million due on the option expiration date. As of March 31, 2017, the foreign currency option had a fair value of $42 million.

Fair Value (Schedule of Finan41

Fair Value (Schedule of Financial Instruments Used to Hedge Certain Exposures to Foreign Currency Exchange Rate Risks) (Parenthetical) (Details) - Foreign Currency Option Contract - Economic hedges - Sky $ in Millions	Mar. 31, 2017USD ($)
Derivatives Fair Value [Line Items]
Notional amount	$ 12,300
Foreign currency option premium payable	175
Fair value	$ 42

Fair Value (Schedule of Finan42

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	Mar. 31, 2017	Jun. 30, 2016
Derivatives Fair Value [Line Items]
Notional amount	$ 676	$ 701
Fair value	$ 1	$ (19)

Borrowings (Schedule of Borrowi

Borrowings (Schedule of Borrowings) (Details) - USD ($) $ in Millions		Mar. 31, 2017	Jun. 30, 2016
Debt Instrument [Line Items]
Total principal amount		$ 20,066	$ 19,725
Less: unamortized discount and debt issuance cost	[1]	(170)	(172)
Total borrowings		19,896	19,553
Less: current borrowings		(107)	(427)
Non-current borrowings		19,789	19,126
Bank loans
Debt Instrument [Line Items]
Total principal amount		1,337	1,446
Senior Notes
Debt Instrument [Line Items]
Total principal amount		18,729	18,279
Senior Notes | Public debt - Predecessor indentures
Debt Instrument [Line Items]
Total principal amount		10,179	10,579
Senior Notes | Public debt - Senior notes issued under August 2009 indenture
Debt Instrument [Line Items]
Total principal amount		$ 8,550	$ 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 Borro44

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)	1 Months Ended		9 Months Ended
	Nov. 30, 2016USD ($)	Oct. 31, 2016USD ($)	Mar. 31, 2017USD ($)	Dec. 22, 2016USD ($)OneYearPeriods
21st Century Fox America, Inc. | Revolving Credit Facility | Credit Facility $1.4 Billion Due May 2020
Debt Instrument [Line Items]
Credit facility, agreement date			May 31, 2015
Limit on revolving credit facility				$ 1,400,000,000
Sub-limit for maximum amount of letters of credit issuable under revolving credit facility				250,000,000
Secured credit facility, maturity date			May 31, 2020
Maximum borrowing capacity under the credit facility				$ 2,000,000,000
Maturity extension number of one year periods | OneYearPeriods				2
Line of credit facility, commitment fee percentage			0.125%
Premium over LIBOR for initial drawn cost on borrowings on unsecured revolving credit facility (percentage)			1.125%
Senior Notes | 3.375% Due 2026 | 21st Century Fox America, Inc.
Debt Instrument [Line Items]
Face amount of debt	$ 450,000,000
Stated interest rate of debt instrument	3.375%
Senior notes, maturity year			2,026
Senior Notes | 4.750% Due 2046 | 21st Century Fox America, Inc.
Debt Instrument [Line Items]
Face amount of debt	$ 400,000,000
Stated interest rate of debt instrument	4.75%
Senior notes, maturity year			2,046
Senior Notes | 3.375% Due 2026 and 4.750% Due 2046 | 21st Century Fox America, Inc.
Debt Instrument [Line Items]
Net proceeds from issuance of senior notes	$ 842,000,000
Senior Notes | 8.00% Due 2016
Debt Instrument [Line Items]
Stated interest rate of debt instrument		8.00%
Senior notes retired		$ 400,000,000
Term Loans | Yankees Entertainment and Sports Network
Debt Instrument [Line Items]
Principal payment			$ 107,000,000

Stockholders' Equity (Schedule

Stockholders' Equity (Schedule of Changes in Stockholders' Equity) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Increase (Decrease) in Stockholders' Equity
Balance, beginning of period		$ 15,555	$ 15,495	$ 14,881	$ 18,186
Net income		827	889	2,581	2,314
Other comprehensive income (loss)		191	74	(67)	(295)
Issuance (cancellation) of shares, net		1	(740)	(527)	(3,897)
Dividends declared		(333)	(287)	(668)	(586)
Other		11	119	52	(172)
Balance, end of period		16,252	15,550	16,252	15,550
Twenty-First Century Fox stockholders
Increase (Decrease) in Stockholders' Equity
Balance, beginning of period		14,340	14,504	13,661	17,220
Net income		799	841	2,476	2,188
Other comprehensive income (loss)		187	74	(51)	(295)
Issuance (cancellation) of shares, net		1	(740)	(527)	(3,897)
Dividends declared		(333)	(287)	(668)	(586)
Other		23	79	126	(159)
Balance, end of period		15,017	14,471	15,017	14,471
Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity
Balance, beginning of period		1,215	991	1,220	966
Net income	[1]	28	48	105	126
Other comprehensive income (loss)		4		(16)
Other	[2]	(12)	40	(74)	(13)
Balance, end of period		$ 1,235	$ 1,079	$ 1,235	$ 1,079
[1]	Net income attributable to noncontrolling interests excludes $43 million and $36 million for the three months ended March 31, 2017 and 2016, respectively, and $113 million and $96 million for the nine months ended March 31, 2017 and 2016, respectively, relating to redeemable noncontrolling interests which are reflected in temporary equity.
[2]	Other activity attributable to noncontrolling interests excludes $(2) million and $(142) million for the three months ended March 31, 2017 and 2016, respectively, and $(46) million and $(206) million for the nine months ended March 31, 2017 and 2016, respectively, relating to redeemable noncontrolling interests.

Stockholders' Equity (Schedul47

Stockholders' Equity (Schedule of Changes in Stockholders' Equity) (Parenthetical) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Temporary Equity Disclosure
Net income attributable to redeemable noncontrolling interests	$ 43	$ 36	$ 113	$ 96
Other activity attributable to redeemable noncontrolling interests	$ (2)	$ (142)	$ (46)	$ (206)

Stockholders' Equity (Other Com

Stockholders' Equity (Other Comprehensive Income) (Details) - USD ($) $ in Millions		3 Months Ended			9 Months Ended
		Mar. 31, 2017		Mar. 31, 2016	Mar. 31, 2017		Mar. 31, 2016
Foreign currency translation adjustments
Unrealized gains (losses) on foreign currency translation, before reclassification adjustment, before tax		$ 111		$ 42	$ (40)		$ (125)
Other comprehensive income (loss) on foreign currency translation adjustments, before tax		111		42	(40)		(125)
Unrealized gains (losses) on foreign currency translation, before reclassification adjustment, tax		0			0		2
Other comprehensive income (loss) on foreign currency translation adjustments, tax		0		0	0		2
Unrealized gains (losses) on foreign currency translation, before reclassification adjustment, net of tax		111		42	(40)		(123)
Other comprehensive income (loss) on foreign currency translation adjustments, net of tax		111		42	(40)		(123)
Cash flow hedges
Unrealized gains (losses) on cash flow hedges, before reclassification adjustment, before tax		1		(40)	14		(19)
Amount reclassified on hedging activity, before tax	[1]	9		11	16		14
Other comprehensive income (loss) on cash flow hedges, before tax		10		(29)	30		(5)
Unrealized gains (losses) on cash flow hedges, before reclassification adjustment, tax				15	(5)		7
Amount reclassified on hedging activity, tax	[1]	(4)		(6)	(6)		(6)
Other comprehensive income (loss) on cash flow hedges, tax		(4)		9	(11)		1
Unrealized gains (losses) on cash flow hedges, net of tax		1		(25)	9		(12)
Amount reclassified on hedging activity, net of tax	[1]	5		5	10		8
Other comprehensive income on cash flow hedges, net of tax		6		(20)	19		(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		0	0		(4)
Benefit plan adjustments
Benefit plan adjustments unrealized gains (losses), before reclassification adjustment, before tax		104	[3]		104	[3]	(2)
Benefit plan reclassification adjustments realized in net income, before tax	[4]	13		9	81		26
Other comprehensive income on benefit plan adjustments, before tax		117		9	185		24
Benefit plan adjustments unrealized gains (losses), before benefit plan adjustments, tax	[3]	(38)			(38)
Benefit plan reclassification adjustments realized in net income, tax	[4]	(5)		(4)	(30)		(9)
Benefit plan adjustments, after reclassification adjustment, tax		(43)		(4)	(68)		(9)
Benefit plan adjustments unrealized gains (losses), before reclassification adjustment, net of tax		66	[3]	0	66	[3]	(2)
Benefit plan reclassification adjustments realized in net income, net of tax	[4]	8		5	51		17
Benefit plan adjustments, after reclassification adjustment, net of tax		74		5	117		15
Equity method investments
Unrealized gains (losses) and reclassifications on equity method investments, before tax		5		56	(218)		(154)
Other comprehensive income (loss) on equity method investments, before tax		5		56	(218)		(154)
Unrealized gains (losses) and reclassifications on equity method investments, tax		(5)		(9)	55		(25)
Other comprehensive income (loss) on equity method investments, tax		(5)		(9)	55		(25)
Unrealized gains (losses) and reclassifications on equity method investments, net of tax		0		47	(163)		(179)
Other comprehensive income (loss) on equity method investments, net of tax		$ 0		$ 47	$ (163)		$ (179)
[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 and nine months ended March 31, 2017 and 2016 (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 nine months ended March 31, 2016.
[3]	For the three and nine months ended March 31, 2017, the Company recorded a net unrealized actuarial gain from the remeasurement of its pension plan.
[4]	Reclassifications of amounts related to benefit plan adjustments are included in Selling, general and administrative expenses or Other, net, as appropriate, in the Unaudited Consolidated Statements of Operations for the three and nine months ended March 31, 2017 and 2016.

Stockholders' Equity (Earnings

Stockholders' Equity (Earnings Per Share Data) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share Data
Income from continuing operations		$ 882	$ 928	$ 2,713	$ 2,418
Less: Net income attributable to noncontrolling interests	[1]	(71)	(84)	(218)	(222)
Income from continuing operations attributable to Twenty-First Century Fox stockholders		$ 811	$ 844	$ 2,495	$ 2,196
[1]	Net income attributable to noncontrolling interests includes $43 million and $36 million for the three months ended March 31, 2017 and 2016, respectively, and $113 million and $96 million for the nine months ended March 31, 2017 and 2016, respectively, relating to redeemable noncontrolling interests.

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Aug. 31, 2016
Class A Common Stock
Stock Repurchase Program [Abstract]
Stock repurchase program, authorized repurchase amount					$ 3,000,000,000
Stock repurchase program, remaining authorized amount	$ 3,110,000,000		$ 3,110,000,000
Dividends [Abstract]
Cash dividend declared per share	$ 0.18	$ 0.15	$ 0.36	$ 0.30
Cash dividend payable date			Apr. 30, 2017
Cash dividend record date			Mar. 15, 2017
Class A Common Stock | Fiscal 2016 Authorization
Stock Repurchase Program [Abstract]
Stock repurchase program, remaining authorized amount	$ 110,000,000		$ 110,000,000
Class A Common Stock | Fiscal 2017 Authorization
Stock Repurchase Program [Abstract]
Stock repurchase program, remaining authorized amount	$ 3,000,000,000		$ 3,000,000,000
Class B Common Stock
Dividends [Abstract]
Cash dividend declared per share	$ 0.18	$ 0.15	$ 0.36	$ 0.30
Cash dividend payable date			Apr. 30, 2017
Cash dividend record date			Mar. 15, 2017

Stockholders' Equity (Schedul51

Stockholders' Equity (Schedule of Dividends Declared) (Details) - $ / shares	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Class A Common Stock
Class Of Stock [Line Items]
Cash dividend per share	$ 0.18	$ 0.15	$ 0.36	$ 0.30
Class B Common Stock
Class Of Stock [Line Items]
Cash dividend per share	$ 0.18	$ 0.15	$ 0.36	$ 0.30

Equity-Based Compensation (Summ

Equity-Based Compensation (Summary of Equity-Based Compensation) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Equity-based compensation	$ 35	$ 34	$ 97	$ 158
Intrinsic value of all settled equity-based awards	$ 1	$ 2	70	192
Tax benefit on vested equity-based awards			$ 25	$ 69

Equity-Based Compensation (Narr

Equity-Based Compensation (Narrative) (Details) - USD ($) shares in Millions, $ in Millions	9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total compensation costs related to non-vested equity-based awards, not yet recognized	$ 150
Performance Stock Units | Class A Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted	7.4	6.2
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

Commitments and Contingencies (

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Mar. 31, 2017	Jun. 30, 2016
Loss Contingencies [Line Items]
Total firm commitments and future debt payments	$ 80,000	$ 84,000
Hulu
Loss Contingencies [Line Items]
Contingent guarantees	115	115
Equity Method Investments Term Loan	$ 338	$ 338
Debt, term	5 years
Debt, maturity date	Oct. 31, 2017

Segment Information (Narrative)

Segment Information (Narrative) (Details) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2017USD ($)SegmentFullpowertvstationDuopoly	Mar. 31, 2016USD ($)
Segment Reporting Information [Line Items]
Number of Reportable Segments | Segment			4
Revenues | $	$ 7,564	$ 7,228	$ 21,752	$ 20,680
Amortization of Intangible Assets | $	62	64	192	182
Filmed Entertainment Segment | Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues | $	$ (407)	$ (315)	$ (1,085)	$ (878)
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 (Reconcilia

Segment Information (Reconciliation from Income from Continuing Operations Before Income Tax Expense to Total Segment OIBDA) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Segment Reporting Information Profit Loss [Abstract]
Income from continuing operations before income tax expense	$ 1,252	$ 1,391	$ 3,874	$ 3,608
Amortization of cable distribution investments	15	18	46	53
Depreciation and amortization	140	133	410	391
Impairment and restructuring charges	37	15	213	46
Equity losses (earnings) of affiliates	51	9	57	(38)
Interest expense, net	310	295	909	888
Interest income	(9)	(12)	(27)	(28)
Other, net	142	32	241	226
Total Segment OIBDA	$ 1,938	$ 1,881	$ 5,723	$ 5,146

Segment Information (Reconcil57

Segment Information (Reconciliation of Revenues and Segment OIBDA from Segments to Consolidated) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Segment Reporting Information [Line Items]
Revenues	$ 7,564	$ 7,228	$ 21,752	$ 20,680
Total Segment OIBDA	1,938	1,881	5,723	5,146
Operating Segments | Cable Network Programming Segment
Segment Reporting Information [Line Items]
Revenues	4,024	3,941	11,801	11,108
Total Segment OIBDA	1,446	1,375	4,160	3,931
Operating Segments | Television Segment
Segment Reporting Information [Line Items]
Revenues	1,690	1,299	4,646	4,064
Total Segment OIBDA	190	125	757	600
Operating Segments | Filmed Entertainment Segment
Segment Reporting Information [Line Items]
Revenues	2,256	2,321	6,432	6,467
Total Segment OIBDA	373	470	1,073	921
Other, Corporate and Eliminations Segment
Segment Reporting Information [Line Items]
Revenues	(406)	(333)	(1,127)	(959)
Total Segment OIBDA	$ (71)	$ (89)	$ (267)	$ (306)

Segment Information (Reconcil58

Segment Information (Reconciliation of Depreciation and Amortization from Segments to Consolidated) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 140	$ 133	$ 410	$ 391
Operating Segments | Cable Network Programming Segment
Segment Reporting Information [Line Items]
Depreciation and amortization	87	79	252	229
Operating Segments | Television Segment
Segment Reporting Information [Line Items]
Depreciation and amortization	28	29	85	88
Operating Segments | Filmed Entertainment Segment
Segment Reporting Information [Line Items]
Depreciation and amortization	19	20	59	60
Other, Corporate and Eliminations Segment
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 6	$ 5	$ 14	$ 14

Segment Information (Reconcil59

Segment Information (Reconciliation of Assets from Segments to Consolidated) (Details) - USD ($) $ in Millions	Mar. 31, 2017	Jun. 30, 2016
Segment Reporting Information [Line Items]
Total assets	$ 50,684	$ 48,193
Investments	3,679	3,863
Operating Segments | Cable Network Programming Segment
Segment Reporting Information [Line Items]
Total assets	25,090	24,974
Operating Segments | Television Segment
Segment Reporting Information [Line Items]
Total assets	7,247	6,959
Operating Segments | Filmed Entertainment Segment
Segment Reporting Information [Line Items]
Total assets	10,695	9,579
Other, Corporate and Eliminations Segment
Segment Reporting Information [Line Items]
Total assets	$ 3,973	$ 2,818

Segment Information (Reconcil60

Segment Information (Reconciliation of Revenues by Components to Consolidated) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Revenues
Affiliate fees	$ 3,160	$ 2,939	$ 8,989	$ 8,321
Advertising	2,203	1,907	6,338	5,950
Content	2,078	2,288	5,979	6,046
Other	123	94	446	363
Total revenues	$ 7,564	$ 7,228	$ 21,752	$ 20,680

Additional Financial Informat61

Additional Financial Information (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Jun. 30, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Impairment and restructuring charges	$ 37	$ 15	$ 213	$ 46
Allowances for returns and doubtful accounts	$ 552		$ 552		$ 576

Additional Financial Informat62

Additional Financial Information (Other, Net) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Acquisition related and other transaction costs	[1]	$ (137)		$ (170)	$ (66)
Investment impairment losses	[2]				(99)
Other	[3]	(5)	$ (32)	(71)	(61)
Total other, net		$ (142)	$ (32)	$ (241)	$ (226)
[1]	The acquisition related and other transaction costs for the three and nine months ended March 31, 2017 primarily represent the change in fair value of a foreign currency option contract to limit the foreign currency exchange rate risk in connection with the Proposed Sky Acquisition (See Note 2 – Acquisitions, Disposals and Other Transactions under the heading “Sky” for further discussion). The acquisition related costs for the nine months ended March 31, 2016 are primarily due to the revision of a contingency estimate related to a past acquisition.
[2]	See Note 7 – Investments in the 2016 Form 10-K under the heading “Other” for further discussion.
[3]	Other for the three and nine months ended March 31, 2017 included approximately $10 million and $45 million, respectively, 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.

Additional Financial Informat63

Additional Financial Information (Other, Net) (Parenthetical) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2017	Mar. 31, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
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	$ 10	$ 45

Additional Financial Informat64

Additional Financial Information (Supplemental Cash Flows Information) (Details) - USD ($) $ in Millions		9 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
Supplemental cash flows information
Cash paid for income taxes		$ (747)	$ (586)
Cash paid for interest		(890)	(873)
Supplemental information on acquisitions and additional investments
Fair value of assets acquired			1,199
Cash acquired			8
Liabilities assumed			(110)
Cash paid			(916)
Fair value of equity instruments issued to third parties	[1]	0	181
Issuance of subsidiary common units		0	(181)
Fair value of equity instruments consideration		$ 0	$ 0
[1]	Includes Redeemable noncontrolling interests.

Supplemental Guarantor Inform65

Supplemental Guarantor Information (Supplemental Condensed Consolidating Statements of Operations) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Mar. 31, 2016
Condensed Income Statements Captions [Line Items]
Revenues		$ 7,564	$ 7,228	$ 21,752	$ 20,680
Expenses		(5,818)	(5,513)	(16,698)	(16,024)
Equity (losses) earnings of affiliates		(51)	(9)	(57)	38
Interest expense, net		(310)	(295)	(909)	(888)
Interest income		9	12	27	28
Other, net		(142)	(32)	(241)	(226)
Income from continuing operations before income tax expense		1,252	1,391	3,874	3,608
Income tax expense		(370)	(463)	(1,161)	(1,190)
Income from continuing operations		882	928	2,713	2,418
Loss from discontinued operations, net of tax		(12)	(3)	(19)	(8)
Net income		870	925	2,694	2,410
Less: Net income attributable to noncontrolling interests	[1]	(71)	(84)	(218)	(222)
Net income attributable to Twenty-First Century Fox, Inc. stockholders		799	841	2,476	2,188
Comprehensive income attributable to Twenty-First Century Fox stockholders		986	915	2,425	1,893
Legal Entities | 21st Century Fox America, Inc.
Condensed Income Statements Captions [Line Items]
Revenues		1	1	1	1
Expenses		(90)	(88)	(328)	(283)
Equity (losses) earnings of affiliates			(1)	(1)	(2)
Interest expense, net		(423)	(408)	(1,246)	(1,212)
Interest income		1	5	3	6
Earnings from subsidiary entities		1,883	1,570	5,358	4,803
Other, net		(140)	(6)	(226)	(114)
Income from continuing operations before income tax expense		1,232	1,073	3,561	3,199
Income tax expense		(365)	(358)	(1,067)	(1,055)
Income from continuing operations		867	715	2,494	2,144
Net income		867	715	2,494	2,144
Net income attributable to Twenty-First Century Fox, Inc. stockholders		867	715	2,494	2,144
Comprehensive income attributable to Twenty-First Century Fox stockholders		1,005	703	2,249	1,657
Legal Entities | Twenty-First Century Fox
Condensed Income Statements Captions [Line Items]
Interest expense, net		(195)	(179)	(572)	(532)
Interest income		3	1	4	3
Earnings from subsidiary entities		1,002	1,022	3,062	2,725
Other, net		1		1
Income from continuing operations before income tax expense		811	844	2,495	2,196
Income from continuing operations		811	844	2,495	2,196
Loss from discontinued operations, net of tax		(12)	(3)	(19)	(8)
Net income		799	841	2,476	2,188
Net income attributable to Twenty-First Century Fox, Inc. stockholders		799	841	2,476	2,188
Comprehensive income attributable to Twenty-First Century Fox stockholders		986	915	2,425	1,893
Legal Entities | Non-Guarantor
Condensed Income Statements Captions [Line Items]
Revenues		7,563	7,227	21,751	20,679
Expenses		(5,728)	(5,425)	(16,370)	(15,741)
Equity (losses) earnings of affiliates		(51)	(8)	(56)	40
Interest expense, net		(19)	(17)	(58)	(56)
Interest income		332	315	987	931
Other, net		(3)	(26)	(16)	(112)
Income from continuing operations before income tax expense		2,094	2,066	6,238	5,741
Income tax expense		(620)	(689)	(1,870)	(1,894)
Income from continuing operations		1,474	1,377	4,368	3,847
Net income		1,474	1,377	4,368	3,847
Less: Net income attributable to noncontrolling interests		(71)	(84)	(218)	(222)
Net income attributable to Twenty-First Century Fox, Inc. stockholders		1,403	1,293	4,150	3,625
Comprehensive income attributable to Twenty-First Century Fox stockholders		1,578	1,415	4,011	3,301
Reclassifications and Eliminations
Condensed Income Statements Captions [Line Items]
Interest expense, net		327	309	967	912
Interest income		(327)	(309)	(967)	(912)
Earnings from subsidiary entities		(2,885)	(2,592)	(8,420)	(7,528)
Income from continuing operations before income tax expense		(2,885)	(2,592)	(8,420)	(7,528)
Income tax expense		615	584	1,776	1,759
Income from continuing operations		(2,270)	(2,008)	(6,644)	(5,769)
Net income		(2,270)	(2,008)	(6,644)	(5,769)
Net income attributable to Twenty-First Century Fox, Inc. stockholders		(2,270)	(2,008)	(6,644)	(5,769)
Comprehensive income attributable to Twenty-First Century Fox stockholders		$ (2,583)	$ (2,118)	$ (6,260)	$ (4,958)
[1]	Net income attributable to noncontrolling interests includes $43 million and $36 million for the three months ended March 31, 2017 and 2016, respectively, and $113 million and $96 million for the nine months ended March 31, 2017 and 2016, respectively, relating to redeemable noncontrolling interests.

Supplemental Guarantor Inform66

Supplemental Guarantor Information (Supplemental Condensed Consolidating Balance Sheets) (Details) - USD ($) $ in Millions		Mar. 31, 2017	Dec. 31, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Jun. 30, 2015
Current assets
Cash and cash equivalents		$ 5,572		$ 4,424	$ 4,993		$ 8,428
Receivables, net		7,219		6,258
Inventories, net	[1]	3,418		3,291
Other		529		976
Total current assets		16,738		14,949
Non-current assets
Receivables, net		538		389
Inventories, net		7,725		7,041
Property, plant and equipment, net		1,691		1,692
Intangible assets, net		6,579		6,777
Goodwill		12,733		12,733
Other non-current assets		1,001		749
Investments
Investments in associated companies and other investments		3,679		3,863
Total investments		3,679		3,863
Total assets		50,684		48,193
Current liabilities
Borrowings		107		427
Other current liabilities		7,349		6,641
Total current liabilities		7,456		7,068
Non-current liabilities
Borrowings		19,789		19,126
Other non-current liabilities		6,568		6,566
Redeemable noncontrolling interests		619		552
Total equity		16,252	$ 15,555	14,881	15,550	$ 15,495	18,186
Total liabilities and equity		50,684		48,193
Legal Entities | 21st Century Fox America, Inc.
Current assets
Cash and cash equivalents		49		661	764		767
Receivables, net		13		20
Other		67		13
Total current assets		129		694
Non-current assets
Receivables, net		15		15
Property, plant and equipment, net		230		213
Other non-current assets		252		235
Investments
Investments in associated companies and other investments		174		137
Intragroup investments		104,343		98,965
Total investments		104,517		99,102
Total assets		105,143		100,259
Current liabilities
Borrowings				400
Other current liabilities		620		489
Total current liabilities		620		889
Non-current liabilities
Borrowings		18,563		17,712
Other non-current liabilities		535		605
Intercompany		38,926		37,838
Total equity		46,499		43,215
Total liabilities and equity		105,143		100,259
Legal Entities | Twenty-First Century Fox
Current assets
Cash and cash equivalents		4,166		2,019	2,594		5,913
Total current assets		4,166		2,019
Investments
Investments in associated companies and other investments		37		37
Intragroup investments		58,994		55,895
Total investments		59,031		55,932
Total assets		63,197		57,951
Current liabilities
Other current liabilities		386		144
Total current liabilities		386		144
Non-current liabilities
Intercompany		47,794		44,146
Total equity		15,017		13,661
Total liabilities and equity		63,197		57,951
Legal Entities | Non-Guarantor
Current assets
Cash and cash equivalents		1,357		1,744	1,635		1,748
Receivables, net		7,207		6,239
Inventories, net		3,418		3,291
Other		462		963
Total current assets		12,444		12,237
Non-current assets
Receivables, net		523		374
Inventories, net		7,725		7,041
Property, plant and equipment, net		1,461		1,479
Intangible assets, net		6,579		6,777
Goodwill		12,733		12,733
Other non-current assets		749		514
Investments
Investments in associated companies and other investments		3,468		3,689
Total investments		3,468		3,689
Total assets		45,682		44,844
Current liabilities
Borrowings		107		27
Other current liabilities		6,344		6,009
Total current liabilities		6,451		6,036
Non-current liabilities
Borrowings		1,226		1,414
Other non-current liabilities		6,033		5,961
Intercompany		(86,720)		(81,984)
Redeemable noncontrolling interests		619		552
Total equity		118,073		112,865
Total liabilities and equity		45,682		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		(163,337)		(154,860)
Total investments		(163,337)		(154,860)
Total assets		(163,338)		(154,861)
Current liabilities
Other current liabilities		(1)		(1)
Total current liabilities		(1)		(1)
Non-current liabilities
Total equity		(163,337)		(154,860)
Total liabilities and equity		$ (163,338)		$ (154,861)
[1]	Current portion of inventories, net as of March 31, 2017 and June 30, 2016 was comprised of programming rights ($3,337 million and $3,212 million, respectively), DVDs, Blu-rays and other merchandise.

Supplemental Guarantor Inform67

Supplemental Guarantor Information (Supplemental Condensed Consolidating Statements of Cash Flows) (Details) - USD ($) $ in Millions	9 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
OPERATING ACTIVITIES
Net cash provided by operating activities from continuing operations	$ 2,418	$ 2,012
INVESTING ACTIVITIES
Property, plant and equipment	(202)	(156)
Investments	(166)	(1,224)
Net cash used in investing activities from continuing operations	(368)	(1,380)
FINANCING ACTIVITIES
Borrowings	879	1,195
Repayment of borrowings	(546)	(502)
Repurchase of shares	(619)	(3,958)
Dividends paid and distributions	(522)	(465)
Purchase of subsidiary shares from noncontrolling interests		(287)
Other financing activities, net	(63)	11
Net cash used in financing activities from continuing operations	(871)	(4,006)
Discontinued operations
Net decrease in cash and cash equivalents from discontinued operations	(21)	(15)
Net increase (decrease) in cash and cash equivalents	1,158	(3,389)
Cash and cash equivalents, beginning of year	4,424	8,428
Exchange movement on cash balances	(10)	(46)
Cash and cash equivalents, end of period	5,572	4,993
Legal Entities | 21st Century Fox America, Inc.
OPERATING ACTIVITIES
Net cash provided by operating activities from continuing operations	(884)	(585)
INVESTING ACTIVITIES
Property, plant and equipment	(10)	(5)
Investments	(95)	(185)
Net cash used in investing activities from continuing operations	(105)	(190)
FINANCING ACTIVITIES
Borrowings	842	987
Repayment of borrowings	(400)	(200)
Other financing activities, net	(44)
Net cash used in financing activities from continuing operations	398	787
Discontinued operations
Net decrease in cash and cash equivalents from discontinued operations	(21)	(15)
Net increase (decrease) in cash and cash equivalents	(612)	(3)
Cash and cash equivalents, beginning of year	661	767
Cash and cash equivalents, end of period	49	764
Legal Entities | Twenty-First Century Fox
OPERATING ACTIVITIES
Net cash provided by operating activities from continuing operations	3,121	1,569
INVESTING ACTIVITIES
Investments		(586)
Net cash used in investing activities from continuing operations	0	(586)
FINANCING ACTIVITIES
Repurchase of shares	(619)	(3,958)
Dividends paid and distributions	(335)	(299)
Purchase of subsidiary shares from noncontrolling interests		(56)
Other financing activities, net	(20)	11
Net cash used in financing activities from continuing operations	(974)	(4,302)
Discontinued operations
Net increase (decrease) in cash and cash equivalents	2,147	(3,319)
Cash and cash equivalents, beginning of year	2,019	5,913
Cash and cash equivalents, end of period	4,166	2,594
Legal Entities | Non-Guarantor
OPERATING ACTIVITIES
Net cash provided by operating activities from continuing operations	181	1,028
INVESTING ACTIVITIES
Property, plant and equipment	(192)	(151)
Investments	(71)	(453)
Net cash used in investing activities from continuing operations	(263)	(604)
FINANCING ACTIVITIES
Borrowings	37	208
Repayment of borrowings	(146)	(302)
Dividends paid and distributions	(187)	(166)
Purchase of subsidiary shares from noncontrolling interests		(231)
Other financing activities, net	1
Net cash used in financing activities from continuing operations	(295)	(491)
Discontinued operations
Net increase (decrease) in cash and cash equivalents	(377)	(67)
Cash and cash equivalents, beginning of year	1,744	1,748
Exchange movement on cash balances	(10)	(46)
Cash and cash equivalents, end of period	1,357	1,635
Reclassifications and Eliminations
OPERATING ACTIVITIES
Net cash provided by 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