Twenty-First Century Fox (TFCF) Inactive 10-Q6 Feb 192019 Q2 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Dec. 31, 2018	Feb. 01, 2019
Document And Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2,019
Document Fiscal Period Focus	Q2
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
Entity Small Business	false
Entity Emerging Growth Company	false
Class A Common Stock
Document And Entity Information [Line Items]
Trading Symbol	FOXA
Entity Common Stock, Shares Outstanding		1,058,408,500
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		6 Months Ended
		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Revenues		$ 8,499	$ 8,037	$ 15,676	$ 15,039
Operating expenses		(6,005)	(5,760)	(10,429)	(10,141)
Selling, general and administrative		(939)	(864)	(1,829)	(1,712)
Depreciation and amortization		(159)	(142)	(317)	(284)
Impairment and restructuring charges		0	(3)	(16)	(24)
Equity (losses) earnings of affiliates		(109)	(33)	(74)	27
Interest expense, net		(294)	(312)	(594)	(625)
Interest income		86	9	94	19
Other, net		10,475	(229)	10,527	(301)
Income from continuing operations before income tax (expense) benefit		11,554	703	13,038	1,998
Income tax (expense) benefit		(630)	1,218	(756)	827
Income from continuing operations		10,924	1,921	12,282	2,825
(Loss) income from discontinued operations, net of tax		(17)	(5)	(24)	11
Net income		10,907	1,916	12,258	2,836
Less: Net income attributable to noncontrolling interests	[1]	(92)	(85)	(158)	(150)
Net income attributable to Twenty-First Century Fox, Inc. stockholders		10,815	1,831	12,100	2,686
EARNINGS PER SHARE DATA
Income from continuing operations attributable to Twenty-First Century Fox, Inc. stockholders - basic and diluted		$ 10,832	$ 1,836	$ 12,124	$ 2,675
Weighted average shares
Basic		1,856	1,853	1,855	1,852
Diluted		1,864	1,855	1,864	1,854
Income from continuing operations attributable to Twenty-First Century Fox, Inc. stockholders per share - basic		$ 5.84	$ 0.99	$ 6.54	$ 1.44
Income from continuing operations attributable to Twenty-First Century Fox, Inc. stockholders per share - diluted		5.81	0.99	6.50	1.44
Net income attributable to Twenty-First Century Fox, Inc. stockholders per share - basic		5.83	0.99	6.52	1.45
Net income attributable to Twenty-First Century Fox, Inc. stockholders per share - diluted		$ 5.80	$ 0.99	$ 6.49	$ 1.45

[1]	Net income attributable to noncontrolling interests includes $36 million and $48 million for the three months ended December 31, 2018 and 2017, respectively, and $60 million and $77 million for the six months ended December 31, 2018 and 2017, respectively, relating to redeemable noncontrolling interests.

UNAUDITED CONSOLIDATED STATEM_2

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Statement Of Income And Comprehensive Income [Abstract]
Net income		$ 10,907	$ 1,916	$ 12,258	$ 2,836
Other comprehensive income, net of tax
Foreign currency translation adjustments		14	38	(118)	79
Cash flow hedges		(6)	(1)	(6)	(1)
Unrealized holding gains on securities		0	97	0	179
Benefit plan adjustments		16	61	22	67
Equity method investments		446	36	412	58
Other comprehensive income, net of tax		470	231	310	382
Comprehensive income		11,377	2,147	12,568	3,218
Less: Net income attributable to noncontrolling interests	[1]	(92)	(85)	(158)	(150)
Less: Other comprehensive loss (income) attributable to noncontrolling interests		5	(4)	9	(13)
Comprehensive income attributable to Twenty-First Century Fox, Inc. stockholders		$ 11,290	$ 2,058	$ 12,419	$ 3,055

[1]	Net income attributable to noncontrolling interests includes $36 million and $48 million for the three months ended December 31, 2018 and 2017, respectively, and $60 million and $77 million for the six months ended December 31, 2018 and 2017, respectively, relating to redeemable noncontrolling interests.

UNAUDITED CONSOLIDATED STATEM_3

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Statement Of Income And Comprehensive Income [Abstract]
Net income attributable to redeemable noncontrolling interests	$ 36	$ 48	$ 60	$ 77

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Dec. 31, 2018	Jun. 30, 2018
Current assets
Cash and cash equivalents		$ 21,281	$ 7,622
Receivables, net		8,083	7,120
Inventories, net	[1]	3,934	3,669
Other		719	922
Total current assets		34,017	19,333
Non-current assets
Receivables, net		859	724
Investments		833	4,112
Inventories, net		8,133	7,518
Property, plant and equipment, net		1,971	1,956
Intangible assets, net		5,970	6,101
Goodwill		12,758	12,768
Other non-current assets		1,345	1,319
Total assets		65,886	53,831
Current liabilities
Borrowings		887	1,054
Accounts payable, accrued expenses and other current liabilities		3,236	3,248
Participations, residuals and royalties payable		1,822	1,748
Program rights payable		1,135	1,368
Deferred revenue		855	826
Total current liabilities		7,935	8,244
Non-current liabilities
Borrowings		18,321	18,469
Other liabilities		3,848	3,664
Deferred income taxes		1,971	1,892
Redeemable noncontrolling interests		576	764
Commitments and contingencies
Equity
Additional paid-in capital		12,573	12,612
Retained earnings		21,292	8,934
Accumulated other comprehensive loss		(1,879)	(2,001)
Total Twenty-First Century Fox, Inc. stockholders' equity		32,005	19,564
Noncontrolling interests		1,230	1,234
Total equity		33,235	20,798
Total liabilities and equity		65,886	53,831
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 December 31, 2018 and June 30, 2018 was comprised of programming rights ($3,886 million and $3,625 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, 1,058,408,500 shares and 1,054,032,541 shares issued and outstanding, net of 123,687,371 treasury shares at par as of December 31, 2018 and June 30, 2018, 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 December 31, 2018 and June 30, 2018.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2018	Jun. 30, 2018
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	1,058,408,500	1,054,032,541
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 STATEM_4

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
OPERATING ACTIVITIES
Net income	$ 12,258	$ 2,836
Less: (Loss) income from discontinued operations, net of tax	(24)	11
Income from continuing operations	12,282	2,825
Adjustments to reconcile income from continuing operations to cash provided by operating activities
Depreciation and amortization	317	284
Amortization of cable distribution investments	20	43
Impairment and restructuring charges	16	24
Equity-based compensation	70	66
Equity losses (earnings) of affiliates	74	(27)
Cash distributions received from affiliates	10	11
Other, net	(10,527)	301
Deferred income taxes	(155)	(1,300)
Change in operating assets and liabilities, net of acquisitions and dispositions
Receivables	(693)	(1,267)
Inventories net of program rights payable	(1,300)	(417)
Accounts payable and accrued expenses	(145)	388
Other changes, net	588	(427)
Net cash provided by operating activities from continuing operations	557	504
INVESTING ACTIVITIES
Property, plant and equipment	(219)	(238)
Investments in equity affiliates	(266)	(209)
Proceeds from dispositions, net	15,020	362
Other investing activities, net	(206)	(84)
Net cash provided by (used in) investing activities from continuing operations	14,329	(169)
FINANCING ACTIVITIES
Borrowings	90	1,282
Repayment of borrowings	(412)	(1,411)
Dividends paid and distributions	(517)	(512)
Employee taxes paid for share-based payment arrangements	(162)	(32)
Other financing activities, net	(89)	(18)
Net cash used in financing activities from continuing operations	(1,090)	(691)
Net decrease in cash and cash equivalents from discontinued operations	(32)	(26)
Net increase (decrease) in cash and cash equivalents	13,764	(382)
Cash and cash equivalents, beginning of year	7,622	6,163
Exchange movement on cash balances	(105)	28
Cash and cash equivalents, end of period	$ 21,281	$ 5,809

Basis of Presentation

Basis of Presentation	6 Months Ended
Basis of Presentation	Dec. 31, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
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, 2019. 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, 2018 as filed with the Securities and Exchange Commission (the “SEC”) on August 13, 2018 (the “2018 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 nvestments 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. Significant influence is generally presumed to exist when the Company owns an interest between 20% and 50% and exercises significant influence. Equity investments in which the Company has no significant influence (generally less than a 20% ownership interest) with readily determinable fair values are recorded at fair value using quoted market prices If an equity investment’s fair value is not readily determinable and does not qualify for the net asset value (“NAV”) practical expedient, the Company will recognize it at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. The unrealized gains and losses and the adjustments related to the observable price changes are recognized in net income. 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 2018 amounts have been reclassified to conform to the fiscal 2019 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 and U.S. Tax Reform Adopted In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”). The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, ASU 2014-09 requires additional disclosure around the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The Company adopted the requirements of ASU 2014-09 as of July 1, 2018, utilizing the modified retrospective method of transition which resulted in a transition adjustment for all contracts not completed as of July 1, 2018. The transition adjustment was recorded as an increase to the opening balance of Retained earnings in the Consolidated Balance Sheet (See Note 7 – Stockholders’ Equity) The new standard impacts the timing of revenue recognition for renewals or extensions of existing licensing agreements for intellectual property, which will be recognized as revenue once the customer can begin to use and benefit from the license rather than when the agreement is extended or renewed, under historical GAAP. The new standard requires the Company’s Filmed Entertainment segment to recognize revenues from certain television license deals earlier as opposed to recognizing those licenses over the term of the agreements. Conversely, revenues from certain of the Filmed Entertainment segment’s trademark licensing deals will be recognized over the license terms as opposed to recognition at inception as under historical GAAP. The adoption of the standard also resulted in the reclassification of the Company’s estimates of sales returns from a contra-asset allowance within receivables to a liability. ASU 2014-09 also requires enhanced disclosures relating to the Company’s revenues from contracts with customers (See Note 11 – Revenues), including the disaggregation of revenues. The following table presents the impact of the adoption of the standard on the Company’s Consolidated Statements of Operations: For the three months ended December 31, 2018 For the six months ended December 31, 2018 As reported Adjustments Without adoption of ASC 606 As reported Adjustments Without adoption of ASC 606 (in millions, except per share amounts) Revenues $ 8,499 $ (28 ) $ 8,471 $ 15,676 $ 50 $ 15,726 Operating expenses (6,005 ) 10 (5,995 ) (10,429 ) (43 ) (10,472 ) Selling, general and administrative (939 ) - (939 ) (1,829 ) - (1,829 ) Depreciation and amortization (159 ) - (159 ) (317 ) - (317 ) Impairment and restructuring charges - - - (16 ) - (16 ) Equity losses of affiliates (109 ) - (109 ) (74 ) (3 ) (77 ) Interest expense, net (294 ) - (294 ) (594 ) - (594 ) Interest income 86 - 86 94 - 94 Other, net 10,475 - 10,475 10,527 - 10,527 Income (loss) from continuing operations before income tax (expense) benefit 11,554 (18 ) 11,536 13,038 4 13,042 Income tax (expense) benefit (630 ) 4 (626 ) (756 ) (1 ) (757 ) Income (loss) from continuing operations 10,924 (14 ) 10,910 12,282 3 12,285 Loss from discontinued operations, net of tax (17 ) - (17 ) (24 ) - (24 ) Net income (loss) 10,907 (14 ) 10,893 12,258 3 12,261 Less: Net income attributable to noncontrolling interests (92 ) - (92 ) (158 ) - (158 ) Net income (loss) attributable to Twenty-First Century Fox stockholders $ 10,815 $ (14 ) $ 10,801 $ 12,100 $ 3 $ 12,103 Net income (loss) attributable to Twenty-First Century Fox stockholders per share Basic $ 5.83 $ (0.01 ) $ 5.82 $ 6.52 $ - $ 6.52 Diluted $ 5.80 $ (0.01 ) $ 5.79 $ 6.49 $ - $ 6.49 Changes to the opening balances of current assets, total assets, current liabilities and total liabilities resulting from the adoption of the new guidance were as follows: June 30, 2018 Adoption of ASC 606 impact July 1, 2018 (in millions) Current assets $ 19,333 $ 491 $ 19,824 Total assets 53,831 559 (a) 54,390 Current liabilities 8,244 256 8,500 Total liabilities 32,269 323 32,592 (a) Includes the Company’s proportionate share of Sky, plc’s (“Sky”) transition adjustment of approximately $145 million. In January 2016, the FASB issued ASU 2016-01, “Financial Instruments––Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” (“ASU 2016-01”). The amendments in ASU 2016-01 address certain aspects of recognition, measurement, presentation and disclosure See Note 7 – Stockholders’ Equity) In addition, the Company recorded changes in the fair value of equity investments with readily determinable fair values in Net income rather than in Accumulated other comprehensive loss (See Note 12 – Additional Financial Information under the heading “Other, net”). In October 2016, the FASB issued ASU 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory” (“ASU 2016-16”). On July 1, 2018, the Company adopted ASU 2016-16 and recorded a deferred tax asset of approximately $2.3 billion related to the basis difference in an equity method investment on a modified retrospective basis, through a cumulative-effect adjustment to Retained earnings and also recorded a corresponding valuation allowance. As prescribed, a full valuation allowance was required because the Company was not able to establish sufficient evidence of future taxable income of the appropriate character to realize the deferred tax asset. As a result, the adoption of ASU 2016-16 did not have a material impact on the Company’s Consolidated Financial Statements. Due to the decision to sell Sky which was announced on September 26, 2018, management determined that the valuation allowance was no longer needed. As such, the Company released the valuation allowance related to its deferred tax asset as part of the estimated annual effective tax rate, resulting in a non-cash tax benefit of approximately $1.8 billion and $2.0 billion for the three and six months ended December 31, 2018, respectively. The remaining non-cash tax benefit of approximately $300 million will be realized during the year based upon the Company’s Income from continuing operations before income tax . On July 1, 2018, the Company early adopted ASU 2018-02, “Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income” (“ASU 2018-02”) on a prospective basis using the security-by-security approach. The objective of ASU 2018-02 is to eliminate the stranded tax effects resulting from the Tax Act (as defined below) and to improve the usefulness of information reported to financial statement users. The adoption of ASU 2018-02 resulted in a reclassification from Accumulated other comprehensive loss to Retained earnings related to the income tax effects on the change in the federal statutory rate (See Note 7 – Stockholders’ Equity under the heading “Accumulated other comprehensive loss”). Issued In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)”, “Topic 842”, as amended. Topic 842 requires recognition of lease liabilities and right-of-use assets on the balance sheet and disclosure of key information about leasing arrangements. Topic 842 will be effective for the Company for annual and interim reporting periods beginning July 1, 2019. The Company expects to apply Topic 842 on a modified retrospective basis with the cumulative effect, if any, of initially applying the new guidance recognized at the date of initial application as an adjustment to opening Retained earnings. The Company is currently evaluating the impact Topic 842 will have on its consolidated financial statements including determining which practical expedients to apply. Since the Company has a significant amount of minimum lease commitments (See Note 15 – Commitments and Contingencies in the 2018 Form 10-K), the Company expects that the impact of recognizing operating lease liabilities and right-of-use assets will be significant to the Company’s Consolidated Balance Sheet. The Company is in process of gathering the necessary lease data and implementing accounting lease software for all leases as well as assessing necessary changes to the Company’s processes and controls to support the recognition and disclosure requirements in accordance with the new standard. In August 2018, the FASB issued ASU 2018-14, “Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans” (“ASU 2018-14”). The amendments in ASU 2018-14 modify certain aspects of disclosure about defined benefit pension and other postretirement plans. ASU 2018-14 will be effective for the Company for annual reporting periods beginning July 1, 2020. Early adoption is permitted. The Company is currently evaluating the impact ASU 2018-14 will have on its consolidated financial statements. U.S. Tax Reform On December 22, 2017, the U.S. government enacted tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act significantly revises the future ongoing U.S. corporate income tax by, among other things, lowering U.S. corporate income tax rates and implementing a territorial tax system. Effective July 1, 2018, the Company’s corporate income tax rate is 21%. The SEC issued guidance that allowed for a measurement period of up to one year after the enactment date of the Tax Act to finalize the recording of the related tax impacts. As of December 31, 2018, the Company has finalized its analysis and has not materially modified the provisional amounts previously recorded (See Note 2 – Summary of Significant Accounting Policies in the 2018 Form 10-K under the heading “U.S. Tax Reform”). The Tax Act also includes a new minimum tax on certain foreign earnings (“global intangible low-tax income” or “GILTI”) which imposes a tax on foreign earnings and profits in excess of a deemed return on tangible assets of foreign subsidiaries and allows a deduction for foreign-derived intangible income (“FDII”). These provisions are effective for the Company in the current fiscal year. For the six months ended December 31, 2018, the Company computed amounts for both items and included the impacts in its annualized effective tax rate calculation. The Company will account for the effects of GILTI as a component of income tax expense in the period the tax arises.

Acquisitions, Disposals and Oth

Acquisitions, Disposals and Other Transactions	6 Months Ended
Acquisitions, Disposals and Other Transactions	Dec. 31, 2018
Acquisitions Disposals And Other Transactions [Abstract]
Acquisitions, Disposals and Other Transactions	NOTE 2. ACQUISITIONS, DISPOSALS AND OTHER TRANSACTIONS Disney Transaction/Distribution On Walt Merger,” Merger, Disney. Company’s Company (the “FOX Network”), T en FOX Company’s sufficient . Twentieth Television STA R (“STAR”), Company’s T a t a “Transaction”. Upon Transaction, Company’s effective Company’s below, Y ork effective “Average Company’s Value”), Average below. Company’s Company’s Value Average Average $114.32, Average Average $114.32, Average effect different To provide FOX with financing in connection with the FOX Distribution, 21st Century Fox America, Inc. (“21CFA”), a wholly-owned subsidiary of the Company, entered into a commitment letter on behalf of FOX with the financial institutions party thereto (the “Bridge Commitment Letter”) which provides for borrowings of up to $9 billion. Given the Company’s current debt ratings, 21CFA pays a commitment fee of 0.1%. In January 2019, FOX issued approximately $6.8 billion of senior notes (See Note 6 – Borrowings under the heading “FOX Borrowings”) and reduced the borrowings available under the Bridge Commitment Letter to $1.7 billion. FOX intends to use the net proceeds of approximately $6.8 billion from the sale of the notes, together with available cash on its balance sheet and other financing facilities, if needed, principally to fund the FOX Dividend and to pay fees and expenses incurred in connection with the senior notes offering and the Transaction. Under On Transaction. Company, Transaction Transaction, Company’s Disney’s The Transaction Transaction Transaction The Company, Disney’s Transaction In $110 Company’s officers (“NEOs”). executive’s The cash bonus retention payment plans are subject to accelerated payment and Under the Amended and Restated Merger Agreement, the Company is permitted to take certain actions to reduce the amount of any potential “excess parachute payments” for “disqualified individuals” (each as defined in Section 280G of the Internal Revenue Code). In accordance with this provision, the Company modified certain outstanding equity-based awards granted to certain participants (excluding any NEOs) resulting in additional compensation expenses of approximately $40 million for the three and six months ended December 31, 2018, of which approximately $15 million was included in Selling, general and administrative expenses and the remaining amount was included in Other, net in the Unaudited Consolidated Statements of Operations. Other In March 2017, the Federal Communications Commission’s (the “FCC”)

Inventories, Net

Inventories, Net	6 Months Ended
Inventories, Net	Dec. 31, 2018
Inventory Disclosure [Abstract]
Inventories, Net	NOTE 3. INVENTORIES, NET The Company’s inventories were comprised of the following: As of December 31, 2018 As of June 30, 2018 (in millions) Programming rights Sports Programming rights $ 3,920 $ 3,676 Entertainment Programming rights (a) 3,311 3,263 Filmed entertainment costs Films Released, less accumulated amortization 1,109 1,249 Completed, not released 195 98 In production 1,900 1,556 In development or preproduction 245 221 - 3,449 3,124 Television productions Released, less accumulated amortization 645 743 In production, development or preproduction 742 381 1,387 1,124 Total filmed entertainment costs, less accumulated amortization (b) 4,836 4,248 Total inventories, net 12,067 11,187 Less: current portion of inventories, net (c) (3,934 ) (3,669 ) Total non-current inventories, net $ 8,133 $ 7,518 (a) Includes DVDs, Blu-rays and other merchandise. (b) Does not include $195 million and $210 million of net intangible film library costs as of December 31, 2018 and June 30, 2018, respectively, which were included in intangible assets subject to amortization in the Consolidated Balance Sheets. (c) Current portion of inventories, net as of December 31, 2018 and June 30, 2018 was comprised of programming rights ($3,886 million and $3,625 million, respectively), DVDs, Blu-rays and other merchandise.

Investments

Investments	6 Months Ended
Investments	Dec. 31, 2018
Investments [Abstract]
Investments	NOTE 4. INVESTMENTS The Company’s investments were comprised of the following: Ownership percentage as of December 31, 2018 As of December 31, 2018 As of June 30, 2018 (in millions) Sky (a) European direct broadcast satellite operator -% $ - $ 3,306 Endemol Shine Group (b) Global multi-platform content provider 50% 168 188 Other investments (c) various 665 618 Total investments $ 833 $ 4,112 (a) In October 2018, the Company sold its 39% investment in Sky. ( b ) Equity method investment. ( c ) Includes an investment with a readily determinable fair value of $185 million as of December 31, 2018 (See Note 5 – Fair Value Sky In December 2016, the Company announced it reached agreement with Sky, in which the Company had 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 did not already own (the “Sky Acquisition”), at a price of £10.75 per Sky share subject to certain payments of dividends. On July 11, 2018, the Company announced an increased offer price for the Sky Acquisition, of £14.00 per Sky share, payable in cash, subject to reduction if certain dividends or other distributions are paid by Sky (the “Increased Offer”). To provide financing in connection with the Sky Acquisition, the Company and 21CFA entered into a bridge credit agreement with the lenders party thereto (the “Bridge Credit Agreement”) which was subsequently amended as a result of the Increased Offer. The Company purchased foreign currency exchange options to limit its foreign currency exchange rate risk in connection with the Sky Acquisition (See Note 5 – Fair Value under the heading “ Foreign Currency Contracts” On September 22, 2018, the Company made a revised cash offer for the fully diluted share capital of Sky that the Company and its affiliates did not already own at a price of for each Sky share (the “Comcast Offer”), which was recommended by the Sky Independent Committee. On September 26, 2018, the Company announced that it intended to lapse its offer on October 6, 2018 and that it intended to either accept the Comcast Offer or to sell its Sky shares to Comcast at a price of £17.28 for each Sky share. in October 2018 – Additional Financial Information under the heading “Other, net”) Hulu The Company owns an equity interest in Hulu. In August 2016, Hulu issued a 10% equity interest to a new investor thereby diluting the Company’s ownership from 33% to 30%. For a period of up to 36 months, under certain limited circumstances 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. For the six months ended December 31, 2018, the Company invested approximately Other Investments During the first quarter of fiscal 2019, the Company invested, in the aggregate, approximately $100 million in cash for a minority equity interest in Caffeine, Inc. (“Caffeine”), a social broadcasting platform for gaming, entertainment and other creative content, and Caffeine Studio, LLC (“Caffeine Studios”), a newly formed venture that is jointly owned by the Company and Caffeine. The Company accounts for the investments in Caffeine at cost plus or minus observable price changes and Caffeine Studios as an equity method investment.

Fair Value

Fair Value	6 Months Ended
Fair Value	Dec. 31, 2018
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 following tables present information about financial assets and liabilities carried at fair value on a recurring basis: Fair value measurements As of December 31, 2018 Total Level 1 Level 2 Level 3 (in millions) Assets Investments (a) $ 185 $ 185 $ - $ - Derivatives (b) 7 - 7 - Other (c) 65 - - 65 Liabilities Derivatives (b) (10 ) - (10 ) - Redeemable noncontrolling interests (576 ) - - (576 ) Total $ (329 ) $ 185 $ (3 ) $ (511 ) As of June 30, 2018 Total Level 1 Level 2 Level 3 (in millions) Assets Investments (a) $ 257 $ 257 $ - $ - Derivatives (b) 14 - 14 - Other (c) 73 - - 73 Redeemable noncontrolling interests (764 ) - - (764 ) Total $ (420 ) $ 257 $ 14 $ (691 ) ( a ) Represents an investment in equity securities with a readily determinable fair value. ( b ) Represents derivatives associated with the Company’s foreign currency and interest rate swap contracts. ( c ) Primarily relates to past acquisitions, including contingent consideration agreements. 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). Two minority shareholders’ put rights will become exercisable in March 2019 and one minority shareholders’ put right will become exercisable in July 2019. The remaining redeemable noncontrolling interests are currently not exercisable. The changes in redeemable noncontrolling interests classified as Level 3 measurements were as follows: For the six months ended December 31, 2018 2017 (in millions) Beginning of period $ (764 ) $ (694 ) Net income (60 ) (77 ) Distributions and other 248 (a) 59 - End of period $ (576 ) $ (712 ) (a) As a result of the expiration of a put arrangement, approximately $200 million was reclassified into Retained earnings. Financial Instruments The carrying value of the Company’s financial instruments, such as cash and cash equivalents, receivables, payables and investments without a readily determinable fair value and not accounted for using the equity method, approximates fair value. As of December 31, 2018 As of June 30, 2018 (in millions) Borrowings Fair value $ 22,809 $ 22,591 Carrying value $ 19,208 $ 19,523 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 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 Sky Acquisition. For accounting purposes, the option contract did not qualify for hedge accounting and therefore was treated as an economic hedge (See Note 4 – Investments under the heading “Sky”). As of December 31, 2018 As of June 30, 2018 (in millions) Cash Flow Hedges Notional amount $ 286 $ 119 Fair value $ (9 ) $ (2 ) 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 year. As of December 31, 2018 As of June 30, 2018 (in millions) Economic Hedges Notional amount $ 16 $ 12,788 (a) Fair value $ - $ 8 (a) ( a) As of June 30, 2018, the notional amount and fair value primarily relates to a foreign currency option contract to limit the foreign currency exchange rate risk in connection with the Sky Acquisition which had a premium payable of approximately $50 million. In September 2018, the Company paid the premium to settle this foreign currency option contract which was included in Proceeds from dispositions, net in the Unaudited Consolidated Statement of Cash Flows. 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 December 31, 2018 As of June 30, 2018 (in millions) Cash Flow Hedges Notional amount $ 580 $ 608 \ Fair value $ 6 $ 8 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 year. 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 December 31, 2018 or June 30, 2018 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 December 31, 2018, the Company did not anticipate nonperformance by any of the counterparties.

Borrowings

Borrowings	6 Months Ended
Borrowings	Dec. 31, 2018
Debt Disclosure [Abstract]
Borrowings	NOTE 6. BORROWINGS Borrowings include bank loans and public debt. Bank Loans STAR has entered into various unsecured credit facilities (the “STAR Credit Facilities”) that are available for working capital and for acquiring programming rights. These credit facilities are uncommitted and are reviewed periodically for renewal. As of December 31, 2018, the STAR Credit Facilities had a total capacity for borrowings of approximately INR 14 billion (approximately $200 million), which was subsequently increased to approximately INR 28 billion (approximately $395 million). As of December 31, 2018, the outstanding balance on the STAR Credit Facilities was $84 million. Borrowings under the credit facilities are due on demand by the lenders providing up to 60 days’ notice. Borrowings with on demand repayment terms are presented as Current borrowings in the Consolidated Balance Sheets. Senior In Current Borrowings Included in Borrowings within Current liabilities as of December 31, 2018 was $700 million of 6.90% Senior Notes that are due in March 2019, principal payments on the Yankees Entertainment and Sports Network (the “YES Network”) term loan facility of $31 million that are due in the next 12 months, $72 million related to the STAR term loan and $84 million related to the STAR Credit Facilities. FOX Borrowings In January 2019, FOX issued $750 million of 3.666% Senior Notes due 2022, $1.25 billion of 4.030% Senior Notes due 2024, $2.00 billion of 4.709% Senior Notes due 2029, $1.25 billion of 5.476% Senior Notes due 2039 and $1.55 billion of 5.576% Senior Notes due 2049 (the “Notes Offering”). FOX intends to use the net proceeds of approximately $6.8 billion from the sale of the notes, together with available cash on its balance sheet and other financing facilities, if needed, principally to fund the FOX Dividend and to pay fees and expenses incurred in connection with the Notes Offering and the Transaction (See Note 2 – Acquisitions, Disposals and Other Transactions under the heading “Disney Transaction/Distribution of FOX”). Bridge See Note 4 – Investments under the heading “Sky”.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
Stockholders' Equity	Dec. 31, 2018
Stockholders Equity Note [Abstract]
Stockholders' Equity	NOTE 7. STOCKHOLDERS’ EQUITY The following tables summarize changes in stockholders’ equity: For the three months ended December 31, 2018 For the six months ended December 31, 2018 Twenty-First Century Fox stockholders Noncontrolling interests Total equity Twenty-First Century Fox stockholders Noncontrolling interests Total equity (in millions) Balance, beginning of period $ 20,698 $ 1,226 $ 21,924 $ 19,564 $ 1,234 $ 20,798 Adoption of ASUs - - - 244 (a) - 244 Adjusted balance, beginning of period 20,698 1,226 21,924 19,808 1,234 21,042 Net income 10,815 56 (b) 10,871 12,100 98 (b) 12,198 Other comprehensive income (loss) 475 (5 ) 470 319 (9 ) 310 Issuance of shares 71 - 71 204 - 204 Dividends declared - - - (334 ) - (334 ) Other (54 ) (47 ) (c) (101 ) (92 ) (93 ) (c) (185 ) - Balance, end of period $ 32,005 $ 1,230 $ 33,235 $ 32,005 $ 1,230 $ 33,235 For the three months ended December 31, 2017 For the six months ended December 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 $ 16,304 $ 1,252 $ 17,556 $ 15,722 $ 1,216 $ 16,938 Net income 1,831 37 (b) 1,868 2,686 73 (b) 2,759 Other comprehensive income 227 4 231 369 13 382 Issuance of shares - - - 41 - 41 Dividends declared - - - (333 ) - (333 ) Other 27 (51 ) (c) (24 ) (96 ) (60 ) (c) (156 ) - Balance, end of period $ 18,389 $ 1,242 $ 19,631 $ 18,389 $ 1,242 $ 19,631 ( a) Primarily represents the adoption of ASU 2014-09 (See Note 1 – Basis of Presentation under the heading “Recently Adopted and Recently Issued Accounting Guidance and U.S. Tax Reform” for additional information). Approximately $145 million of the transition adjustment relates to the Company’s proportionate share of Sky’s transition adjustment ( b ) Net income attributable to noncontrolling interests excludes $36 million and $48 million for the three months ended December 31, 2018 and 2017, respectively, and $60 million and $77 million for the six months ended December 31, 2018 and 2017, respectively, relating to redeemable noncontrolling interests which are reflected in temporary equity. ( c ) Other activity attributable to noncontrolling interests excludes $(11) million and $(35) million for the three months ended December 31, 2018 and 2017, respectively, and $(248) million and $(59) million for the six months ended December 31, 2018 and 2017, respectively, relating to redeemable noncontrolling interests (See Note 5 – Fair Value) 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, gains and losses on cash flow hedges, unrealized holding gains and losses on securities, benefit plan adjustments and the Company’s share of other comprehensive income (loss) 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 December 31, 2018 For the six months ended December 31, 2018 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) $ 11 $ (1 ) $ 10 $ (121 ) $ (1 ) $ (122 ) Reclassifications realized in net income (a) 6 (2 ) 4 6 (2 ) 4 Other comprehensive income (loss) (b) $ 17 $ (3 ) $ 14 $ (115 ) $ (3 ) $ (118 ) Cash flow hedges Unrealized losses $ (9 ) $ 2 $ (7 ) $ (9 ) $ 2 $ (7 ) Reclassifications realized in net income (c) 1 - 1 1 - 1 Other comprehensive loss $ (8 ) $ 2 $ (6 ) $ (8 ) $ 2 $ (6 ) Benefit plan adjustments Unrealized gains $ 13 $ (3 ) $ 10 $ 13 $ (3 ) $ 10 Reclassifications realized in net income (d) 7 (1 ) 6 15 (3 ) 12 Other comprehensive income $ 20 $ (4 ) $ 16 $ 28 $ (6 ) $ 22 Equity method investments Unrealized losses and reclassifications $ (5 ) $ - $ (5 ) $ (47 ) $ 8 $ (39 ) Amount reclassified on sale of Sky (a) 627 (176 ) 451 627 (176 ) 451 Other comprehensive income $ 622 $ (176 ) $ 446 $ 580 $ (168 ) $ 412 For the three months ended For the six months ended Before tax Tax (provision) benefit Net of tax Before tax Tax (provision) benefit Net of tax (in millions) Foreign currency translation adjustments Unrealized gains $ 38 $ - $ 38 $ 79 $ - $ 79 Other comprehensive income (b) $ 38 $ - $ 38 $ 79 $ - $ 79 Cash flow hedges Unrealized gains $ 1 $ - $ 1 $ 9 $ (3 ) $ 6 Reclassifications realized in net income (c) (3 ) 1 (2 ) (11 ) 4 (7 Other comprehensive loss $ (2 ) $ 1 $ (1 ) $ (2 ) $ 1 $ (1 ) Gains on securities Unrealized gains $ 154 $ (57 ) $ 97 $ 283 $ (104 ) $ 179 Other comprehensive income $ 154 $ (57 ) $ 97 $ 283 $ (104 ) $ 179 Benefit plan adjustments Reclassifications realized in net income (d) $ 96 $ (35 ) $ 61 $ 106 $ (39 ) $ 67 Other comprehensive income $ 96 $ (35 ) $ 61 $ 106 $ (39 ) $ 67 Equity method investments Unrealized gains and reclassifications $ 50 $ (14 ) $ 36 $ 84 $ (26 ) $ 58 Other comprehensive income $ 50 $ (14 ) $ 36 $ 84 $ (26 ) $ 58 (a) Reclassifications of amounts related to dispositions are included in Other, net in the Unaudited Consolidated Statements of Operations . (b) Foreign currency translation adjustments include $(5) million and $4 million for the three months ended December 31, 2018 and 2017, respectively, and $(9) million and $13 million for the six months ended December 31, 2018 and 2017, respectively, relating to noncontrolling interests. ( c ) 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 (See Note 5 – Fair Value for additional information regarding hedging activity). ( d ) Reclassifications of amounts related to benefit plan adjustments are included in Other, net in the Unaudited Consolidated Statements of Operations. Accumulated other comprehensive loss The following table summarizes the changes in the components of Accumulated other comprehensive loss, net of tax: For the six months ended December 31, 2018 Foreign currency translation adjustments Cash flow hedges Unrealized holding gains on securities Benefit plan adjustments Equity method investments Accumulated other comprehensive loss (in millions) Balance, beginning of period $ (1,317 ) $ 4 $ 132 $ (307 ) $ (513 ) $ (2,001 ) Adoption of ASUs - 1 (a) (132 ) (b) (66 ) (a) - (197 ) Other comprehensive (loss) income, net of tax (109 ) (6 ) - 22 412 319 Balance, end of period $ (1,426 ) $ (1 ) $ - $ (351 ) $ (101 ) $ (1,879 ) (a) Reflects the adoption of ASU 2018-02 (See Note 1 – Basis of Presentation under the heading “Recently Adopted and Recently Issued Accounting Guidance and U.S. Tax Reform” for additional information). (b) Reflects the adoption of ASU 2016-01 (See Note 1 – Basis of Presentation under the heading “Recently Adopted and Recently Issued Accounting Guidance and U.S. Tax Reform” for additional information). 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 December 31, For the six months ended December 31, 2018 2017 2018 2017 (in millions) Income from continuing operations $ 10,924 $ 1,921 $ 12,282 $ 2,825 Less: Net income attributable to noncontrolling interests (92 ) (85 ) (158 ) (150 ) Income from continuing operations attributable to Twenty-First Century Fox stockholders $ 10,832 $ 1,836 $ 12,124 $ 2,675 Stock Repurchase Program The Company’s Board of Directors (the “Board”) previously authorized a stock repurchase program, under which the Company is authorized to acquire Class A Common Stock. In August 2016 and 2015, the Board authorized the repurchase of an additional $3 billion and $5 billion, respectively, of Class A Common Stock, excluding commissions. As of December 31, 2018, the Company’s remaining buyback authorization was approximately $3.1 billion representing $3 billion under the fiscal 2017 authorization and approximately $110 million under the fiscal 2016 authorization. Pursuant to the Amended and Restated Merger Agreement (See Note 2 – Acquisitions, Disposals and Other Transactions under the heading “Disney Transaction/Distribution of FOX”), the Company is prohibited from repurchasing any additional shares without Disney’s consent. The Company did not repurchase any of its Class A Common Stock or Class B Common Stock during the six months ended December 31, 2018. 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 six months ended 2018 2017 Cash dividend per share $ 0.18 $ 0.18 Subsequent to December 31, 2018, the Company declared a dividend of $0.18

Equity-Based Compensation

Equity-Based Compensation	6 Months Ended
Equity-Based Compensation	Dec. 31, 2018
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 December 31, For the six months ended December 31, 2018 2017 2018 2017 (in millions) Equity-based compensation $ 107 $ 39 $ 157 $ 66 Intrinsic value of all settled equity-based awards $ 139 $ - $ 368 $ 74 The Company’s stock based awards are granted in Class A Common Stock. As of December 31, 2018, the Company’s total estimated compensation cost related to equity-based awards, not yet recognized, was approximately $280 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 During the six months ended December 31, 2018, no performance stock units (“PSUs”) were granted and approximately 6.5 million PSUs vested. During the six months ended December 31, 2017, approximately 6.6 million PSUs were granted and approximately 2.6 million PSUs vested. Restricted Stock Units During the six months ended December 31, 2018, approximately 2.9 million restricted stock units (“RSUs”) were granted and approximately 1.4 million RSUs vested.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Dec. 31, 2018
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 December 31, 2018 and June 30, 2018 were approximately $85 billion and $84 billion, respectively. The increase from June 30, 2018 was primarily due to the new multi-year, multi-platform rights agreement expanding the Company’s television, digital and Spanish-language rights and extending its arrangement with Major League Baseball (“MLB”) through the 2028 MLB season partially offset by sports programming rights payments. Contingent Guarantees The Company’s contingent guarantees as of December 31, 2018 have not changed significantly from disclosures included in the 2018 Form 10-K. The commitments and contingent guarantees above do not include obligations and commitments related to the Transaction and Sky Acquisition (See Note 2 – Acquisitions, Disposals and Other Transactions under the heading “Disney Transaction/Distribution of FOX” and Note 4 – Investments under the heading “Sky”). Hulu The Company has guaranteed $113 million of Hulu’s $338 million five-year term loan due in August 2022 which is included in the contingent guarantees above. The fair value of this guarantee was calculated using Level 3 inputs and was included in the Consolidated Balance Sheets in Other liabilities. In addition to the contingent guarantees mentioned above, the Company is party to capital funding agreements related to Hulu (See Note 4 – Investments under the heading “Hulu”). Contingencies FOX News Channel The Company and certain of its current and former employees have been subject to allegations of sexual harassment and discrimination and racial discrimination relating to alleged misconduct at the Company’s FOX News business. The Company has resolved many of these claims and is contesting other claims in litigation. The Company has also received regulatory and investigative inquiries relating to these matters. 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 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. U.K. Newspaper Matters Indemnity In connection with the News Corp Separation (as defined in Note 4 – Discontinued Operations in the 2018 Form 10-K under the heading “Separation of News Corp”), the Company and News Corporation (“News Corp”) agreed in the News Corp Separation and Distribution Agreement that the Company will indemnify News Corp, on an after-tax basis, for payments made after the News Corp Separation arising out of civil claims and investigations relating to phone hacking, illegal data access and inappropriate payments to public officials that occurred at subsidiaries of News Corp, as well as legal and professional fees and expenses paid in connection with the related criminal matters, other than fees, expenses and costs relating to employees who are not (i) directors, officers or certain designated employees or (ii) with respect to civil matters, co-defendants with News Corp (the “Indemnity”). The liability related to the Indemnity, recorded in the Consolidated Balance Sheets, was approximately $45 million and $50 million as of December 31, 2018 and June 30, 2018, respectively. Other Equity purchase arrangements that are exercisable by the counterparty 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. For the contingencies disclosed above for which there is at least a reasonable possibility that a loss may be incurred, other than the accrual provided, the Company was unable to estimate the amount of loss or range of loss. 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	6 Months Ended
Segment Information	Dec. 31, 2018
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 (collectively, multi-channel video programming distributors) (“MVPDs”) primarily in the U.S. and internationally. • Television , which principally consists of the acquisition, marketing and distribution 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 Network, nine are affiliated with 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 costs and intercompany eliminations. 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) benefit, (Loss) income 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) benefit to Total Segment OIBDA for the three and six months ended December 31, 2018 and 2017: For the three months ended December 31, For the six months ended December 31, 2018 2017 2018 2017 (in millions) Income from continuing operations before income tax (expense) benefit $ 11,554 $ 703 $ 13,038 $ 1,998 Add Amortization of cable distribution investments 10 25 20 43 Depreciation and amortization 159 142 317 284 Impairment and restructuring charges - 3 16 24 Equity losses (earnings) of affiliates 109 33 74 (27 ) Interest expense, net 294 312 594 625 Interest income (86 ) (9 ) (94 ) (19 ) Other, net (10,475 ) 229 (10,527 ) 301 Total Segment OIBDA $ 1,565 $ 1,438 $ 3,438 $ 3,229 The following tables set forth the Company’s Revenues and Segment OIBDA for the three and six months ended December 31, 2018 and 2017: For the three months ended December 31, For the six months ended December 31, 2018 2017 2018 2017 (in millions) Revenues Cable Network Programming $ 4,562 $ 4,405 $ 8,909 $ 8,601 Television 2,148 1,806 3,424 2,871 Filmed Entertainment 2,159 2,246 3,975 4,209 Other, Corporate and Eliminations (370 ) (420 ) (632 ) (642 ) Total revenues $ 8,499 $ 8,037 $ 15,676 $ 15,039 Segment OIBDA Cable Network Programming $ 1,454 $ 1,365 $ 2,991 $ 2,876 Television (22 ) 56 146 178 Filmed Entertainment 193 131 470 387 Other, Corporate and Eliminations (60 ) (114 ) (169 ) (212 ) Total Segment OIBDA $ 1,565 $ 1,438 $ 3,438 $ 3,229 Intersegment revenues, generated by the Filmed Entertainment segment, of $360 million and $418 million for the three months ended December 31, 2018 and 2017, respectively, and of $605 million and $613 million for the six months ended December 31, 2018 and 2017, respectively, have been eliminated within the Other, Corporate and Eliminations segment. The balance of intersegment revenues is primarily related to the Cable Network Programming segment. Segment OIBDA, generated by the Filmed Entertainment segment, of approximately $(50) million and $20 million for the three months ended December 31, 2018 and 2017, respectively, and of approximately $(20) million and $45 million for the six months ended December 31, 2018 and 2017, respectively, have been eliminated within the Other, Corporate and Eliminations segment. For the three months ended December 31, For the six months ended December 31, 2018 2017 2018 2017 (in millions) Depreciation and amortization Cable Network Programming $ 98 $ 86 $ 195 $ 171 Television 25 27 51 54 Filmed Entertainment 25 23 50 46 Other, Corporate and Eliminations 11 6 21 13 Total depreciation and amortization $ 159 $ 142 $ 317 $ 284 Depreciation and amortization includes the amortization of definite lived intangible assets of $65 million he three months ended December 31, 2018 and 2017 and $129 million and $130 million for the six months ended December 31, 2018 and 2017, respectively. As of December 31, 2018 As of June 30, 2018 (in millions) Assets Cable Network Programming $ 25,515 $ 25,756 Television 7,612 6,779 Filmed Entertainment 11,866 10,646 Other, Corporate and Eliminations 20,060 6,538 Investments 833 4,112 Total assets $ 65,886 $ 53,831 Revenues by Component For the three months ended December 31, For the six months ended December 31, 2018 2017 2018 2017 (in millions) Revenues Affiliate fee $ 3,482 $ 3,252 $ 6,977 $ 6,488 Advertising 2,698 2,496 4,470 4,119 Content 2,118 2,140 3,889 4,159 Other 201 149 340 273 Total revenues $ 8,499 $ 8,037 $ 15,676 $ 15,039

Revenues

Revenues	6 Months Ended
Revenues	Dec. 31, 2018
Revenue From Contract With Customer [Abstract]
Revenues	NOTE 11. REVENUES Revenue is recognized when control of the promised goods or services is transferred to the Company’s customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The Company considers the terms of each arrangement to determine the appropriate accounting treatment. Cable Network Programming and Television The Company generates affiliate fee revenue from affiliate agreements with MVPDs for cable network programming and for the broadcast of the Company’s owned and operated television stations. In addition, the Company generates affiliate fee revenue from affiliate agreements with independently-owned television stations that are affiliated with the FOX Network and receive retransmission consent fees from MVPDs for their signals. Affiliate fee revenue is recognized at a point in time when the network programming, a functional license of intellectual property, is made available to the customer which is done on a continuous basis. For contracts with affiliate fees based on the number of the affiliate’s subscribers, revenues are recognized based on the contractual rate multiplied by the estimated number of subscribers each period. For contracts with fixed affiliate fees, revenues are recognized based on the relative standalone selling price of the network programming provided over the contract term, which generally reflects the invoiced amount. Affiliate contracts are generally multi-year contracts with payments due monthly. The Company classifies the amortization of cable distribution investments (capitalized fees paid to MVPDs to facilitate carriage of a cable network) against affiliate fee revenue in accordance with ASC 606-10-32-25 through 27, “Revenue Recognition—Consideration Payable to a Customer.” The Company defers the cable distribution investments and amortizes the amounts on a straight-line basis over the contract period. The Company generates advertising revenue from sales of commercial time within the Company’s network programming to be aired by television networks and cable channels, and from sales of broadcast advertising time on the Company’s owned television stations and various digital properties. Advertising revenue from customers, primarily advertising agencies, is recognized as the commercials are aired. Certain of the Company’s advertising contracts have guarantees of a certain number of targeted audience views, referred to as impressions. Revenues for any audience deficiencies are deferred until the guaranteed number of impressions is met, by providing additional advertisements. Advertising contracts, which are generally short-term, are billed monthly for the spots aired during the month, with payments due shortly after the invoice date. Filmed Entertainment The Company’s Filmed Entertainment segment generates revenue from the licensing of motion pictures and television content produced or acquired for distribution by the Company. In general, motion pictures are exhibited in U.S. and foreign theaters, followed by home entertainment, including sales and rentals of DVDs and Blu-rays, licensing through digital distribution platforms, premium subscription television, network television and basic cable and syndicated television exploitation. Television series initially produced for the networks and first-run syndication are generally licensed to domestic and international markets, concurrently and subsequently made available via digital distribution platforms and released in seasonal DVDs and Blu-ray box sets. Content revenues from the licensing of motion pictures and television series are recognized when the content is made available to the licensee for exhibition at the beginning of the license period. If an existing licensing agreement is renewed or extended, the Company recognizes revenue at the later of when the content is available or when the renewal or extension period commences. For contracts that include variable fees in the form of sales-based or usage-based royalties, revenue is recognized when the underlying sales or usage occurs. Payment terms and duration of content licensing contracts vary by contract, typically with payments due over the license term. Revenues from the theatrical distribution of motion pictures are recognized as the licensee exhibits or exploits them. Revenues from home entertainment sales, net of a reserve for estimated returns, are recognized on the date that DVD and Blu-ray units are made widely available for sale by retailers or when made available for viewing via digital distribution platforms and all Company-imposed restrictions on the sale or availability have expired. Revenues from digital distribution platforms are generally recognized when the underlying sales occur. License agreements for the broadcast of motion pictures and television series in the broadcast network, syndicated television and cable television markets are routinely entered in advance of their availability date for broadcast. Cash received and amounts billed in connection with such contractual rights, for which revenue is not yet recognizable, are classified as deferred revenue. Because deferred revenue generally relates to contracts for the licensing of motion pictures and television series which have already been produced, the recognition of revenue for such completed product is principally dependent upon the commencement of the availability period for broadcast under the terms of the related licensing agreement. The Company earns and recognizes revenues as a distributor on behalf of third parties. In such cases, determining whether revenue should be reported on a gross or net basis is based on management’s assessment of whether the Company obtains control of the content before licensing it to the customer. To the extent the Company obtains control and thereby acts as the principal in a transaction, revenues are reported on a gross basis. Determining whether the Company acts as principal or agent in a transaction involves judgment and is based on an evaluation of whether the Company has the ability to direct the use of and obtain substantially all of the remaining benefits from the third-party content. The following table sets forth the Company’s Revenues by Segment by Component for the three and six months ended December 31, 2018 and 2017: For the three months ended December 31, For the six months ended December 31, 2018 2017 2018 2017 (in millions) Cable Network Programming Affiliate fee $ 3,075 $ 2,915 $ 6,172 $ 5,817 Advertising, content and other 1,487 1,490 2,737 2,784 Total Cable Network Programming revenues 4,562 4,405 8,909 8,601 Television Advertising 1,634 1,416 2,433 2,071 Affiliate fee, content and other 514 390 991 800 Total Television revenues 2,148 1,806 3,424 2,871 Filmed Entertainment Content 2,059 2,168 3,784 4,059 Advertising and other 100 78 191 150 Total Filmed Entertainment revenues 2,159 2,246 3,975 4,209 Other, Corporate and Eliminations (370 ) (420 ) (632 ) (642 ) Total revenues $ 8,499 $ 8,037 $ 15,676 $ 15,039 Future Performance Obligations As of December 31, 2018, approximately $7 billion of revenues are expected to be recognized primarily over the next three years. The Company’s most significant remaining performance obligations relate to affiliate contracts and sports rights sublicensing contracts with fixed fees. The amount disclosed does not include (i) revenues related to performance obligations that are part of a contract that have an original expected duration of one year or less, (ii) revenues related to performance obligations for which the Company recognizes revenues in the amount it has a right to invoice, (iii) revenues that are in the form of sales-based or usage-based royalties promised in exchange for licenses of intellectual property and (iv) revenues that have variable consideration which is allocated entirely to an unsatisfied performance obligation or an unsatisfied promise to transfer a distinct good or service that forms part of a single performance obligation. Receivables Receivables, net as of December 31, 2018 and July 1, 2018 consist of: As of December 31, 2018 As of July 1, 2018 (in millions) Total receivables $ 9,118 $ 8,553 Allowances for doubtful accounts (176 ) (169 ) Total receivables, net 8,942 8,384 Less: current receivables, net (8,083 ) (7,625 ) Non-current receivables, net $ 859 $ 759 Deferred Revenue Deferred revenue consists of cash payments received or due in advance of the Company’s performance primarily under license agreements for the broadcast of motion pictures and television series as well as advertising agreements where revenues have been deferred due to audience deficiency. The following table sets forth the Deferred revenue balances as of December 31, 2018 and July 1, 2018: As of December 31, 2018 As of July 1, 2018 (in millions) Current deferred revenue $ 855 $ 791 Noncurrent deferred revenue $ 277 $ 291

Additional Financial Informatio

Additional Financial Information	6 Months Ended
Additional Financial Information	Dec. 31, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Additional Financial Information	NOTE 12. ADDITIONAL FINANCIAL INFORMATION 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 December 31, For the six months ended December 31, 2018 2017 2018 2017 (in millions) Gain on sale of investment in Sky and other transaction costs (a) $ 10,870 $ (85 ) $ 10,824 $ (139 ) Disney transaction costs (b) (119 ) (32 ) (187 ) (32 ) Unrealized losses on investments (c) (255 ) - (72 ) - Settlement loss on pension liabilities (d) - (86 ) - (86 ) Other (21 ) (26 ) (38 ) (44 ) Total other, net $ 10,475 $ (229 ) $ 10,527 $ (301 ) (a) Primarily represents the gain on the sale of investment in Sky for the three and six months ended December 31, 2018 and the change in fair value of a foreign currency option contract to limit the foreign currency exchange rate risk in connection with the Sky Acquisition for the three and six months ended December 31, 2017 (See Note 4 – Investments under the heading “Sky” for further discussion). (b) See Note 2 – Acquisitions, Disposals and Other Transactions. ( c ) ( d ) During the three and six months ended December 31, 2017, the Company settled a portion of its pension obligations by irrevocably transferring pension liabilities to an insurance company through the purchase of a group annuity contract and through lump sum distributions. These payments, funded with pension plan assets, resulted in pre-tax settlement losses related to the recognition of accumulated deferred actuarial losses. Supplemental Cash Flows Information For the six months ended December 31, 2018 2017 (in millions) Supplemental cash flows information Cash paid for income taxes $ (390 ) $ (663 ) Cash paid for interest $ (623 ) $ (596 )

Supplemental Guarantor Informat

Supplemental Guarantor Information	6 Months Ended
Supplemental Guarantor Information	Dec. 31, 2018
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Supplemental Guarantor Information	NOTE 13. 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. 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. Supplemental Condensed Consolidating Statement of Operations For the three months ended December 31, 2018 (in millions) 21st Century Fox America, Inc. Twenty-First Century Fox Non-Guarantor Reclassifications and Eliminations Twenty-First Century Fox and Subsidiaries Revenues $ - $ - $ 8,499 $ - $ 8,499 Expenses (103 ) - (7,000 ) - (7,103 ) Equity losses of affiliates - - (109 ) - (109 ) Interest expense, net (483 ) (209 ) (22 ) 420 (294 ) Interest income 82 2 422 (420 ) 86 Earnings from subsidiary entities 12,108 11,294 - (23,402 ) - Other, net (150 ) (255 ) 10,880 - 10,475 Income from continuing operations before income tax expense 11,454 10,832 12,670 (23,402 ) 11,554 Income tax expense (628 ) - (678 ) 676 (630 ) Income from continuing operations 10,826 10,832 11,992 (22,726 ) 10,924 Loss from discontinued operations, net of tax - (17 ) - - (17 ) Net income 10,826 10,815 11,992 (22,726 ) 10,907 Less: Net income attributable to noncontrolling interests - - (92 ) - (92 ) Net income attributable to Twenty-First Century Fox stockholders $ 10,826 $ 10,815 $ 11,900 $ (22,726 ) $ 10,815 Comprehensive income attributable to Twenty-First Century Fox stockholders $ 11,209 $ 11,290 $ 12,318 $ (23,527 ) $ 11,290 See notes to supplemental guarantor information Supplemental Condensed Consolidating Statement of Operations For the three months ended December 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 $ - $ - $ 8,037 $ - $ 8,037 Expenses (100 ) - (6,669 ) - (6,769 ) Equity losses of affiliates - - (33 ) - (33 ) Interest expense, net (436 ) (205 ) (20 ) 349 (312 ) Interest income - 5 353 (349 ) 9 Earnings from subsidiary entities 3,193 2,036 - (5,229 ) - Other, net (206 ) - (23 ) - (229 ) Income from continuing operations before income tax benefit 2,451 1,836 1,645 (5,229 ) 703 Income tax benefit 1,783 - 2,123 (2,688 ) 1,218 Income from continuing operations 4,234 1,836 3,768 (7,917 ) 1,921 Loss from discontinued operations, net of tax - (5 ) - - (5 ) Net income 4,234 1,831 3,768 (7,917 ) 1,916 Less: Net income attributable to noncontrolling interests - - (85 ) - (85 ) Net income attributable to Twenty-First Century Fox stockholders $ 4,234 $ 1,831 $ 3,683 $ (7,917 ) $ 1,831 Comprehensive income attributable to Twenty-First Century Fox stockholders $ 4,278 $ 2,058 $ 3,743 $ (8,021 ) $ 2,058 See notes to supplemental guarantor information Supplemental Condensed Consolidating Statement of Operations For the six months ended December 31, 2018 (in millions) 21st Century Fox America, Inc. Twenty-First Century Fox Non-Guarantor Reclassifications and Eliminations Twenty-First Century Fox and Subsidiaries Revenues $ - $ - $ 15,676 $ - $ 15,676 Expenses (194 ) - (12,397 ) - (12,591 ) Equity losses of affiliates - - (74 ) - (74 ) Interest expense, net (930 ) (411 ) (45 ) 792 (594 ) Interest income 82 5 799 (792 ) 94 Earnings from subsidiary entities 14,097 12,602 - (26,699 ) - Other, net (232 ) (72 ) 10,831 - 10,527 Income from continuing operations before income tax expense 12,823 12,124 14,790 (26,699 ) 13,038 Income tax expense (744 ) - (858 ) 846 (756 ) Income from continuing operations 12,079 12,124 13,932 (25,853 ) 12,282 Loss from discontinued operations, net of tax - (24 ) - - (24 ) Net income 12,079 12,100 13,932 (25,853 ) 12,258 Less: Net income attributable to noncontrolling interests - - (158 ) - (158 ) Net income attributable to Twenty-First Century Fox stockholders $ 12,079 $ 12,100 $ 13,774 $ (25,853 ) $ 12,100 Comprehensive income attributable to Twenty-First Century Fox stockholders $ 12,251 $ 12,419 $ 14,008 $ (26,259 ) $ 12,419 See notes to supplemental guarantor information Supplemental Condensed Consolidating Statement of Operations For the six months ended December 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 $ - $ - $ 15,039 $ - $ 15,039 Expenses (176 ) - (11,985 ) - (12,161 ) Equity earnings of affiliates - - 27 - 27 Interest expense, net (866 ) (410 ) (42 ) 693 (625 ) Interest income - 10 702 (693 ) 19 Earnings from subsidiary entities 4,784 3,075 - (7,859 ) - Other, net (219 ) - (82 ) - (301 ) - Income from continuing operations before income tax benefit 3,523 2,675 3,659 (7,859 ) 1,998 Income tax benefit 1,459 - 1,515 (2,147 ) 827 - Income from continuing operations 4,982 2,675 5,174 (10,006 ) 2,825 Income from discontinued operations, net of tax - 11 - - 11 - Net income 4,982 2,686 5,174 (10,006 ) 2,836 Less: Net income attributable to noncontrolling interests - - (150 ) - (150 ) - Net income attributable to Twenty-First Century Fox stockholders $ 4,982 $ 2,686 $ 5,024 $ (10,006 ) $ 2,686 $ - Comprehensive income attributable to Twenty-First Century Fox stockholders $ 5,000 $ 3,055 $ 5,161 $ (10,161 ) $ 3,055 See notes to supplemental guarantor information Supplemental Condensed Consolidating Balance Sheet As of December 31, 2018 (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 $ 18,411 $ 1,575 $ 1,295 $ - $ 21,281 Receivables, net 11 2 8,073 (3 ) 8,083 Inventories, net - - 3,934 - 3,934 Other 48 - 671 - 719 - Total current assets 18,470 1,577 13,973 (3 ) 34,017 Non-current assets Receivables, net 13 - 846 - 859 Inventories, net - - 8,133 - 8,133 Property, plant and equipment, net 345 - 1,626 - 1,971 Intangible assets, net - - 5,970 - 5,970 Goodwill - - 12,758 - 12,758 Other non-current assets 262 - 1,083 - 1,345 Investments Investments in associated companies and other investments 263 186 384 - 833 Intragroup investments 127,850 78,002 - (205,852 ) - - Total investments 128,113 78,188 384 (205,852 ) 833 Total assets $ 147,203 $ 79,765 $ 44,773 $ (205,855 ) $ 65,886 LIABILITIES AND EQUITY Current liabilities Borrowings $ 700 $ - $ 187 $ - $ 887 Other current liabilities 408 41 6,602 (3 ) 7,048 Total current liabilities 1,108 41 6,789 (3 ) 7,935 Non-current liabilities Borrowings 17,286 - 1,035 - 18,321 Other non-current liabilities 482 - 5,337 - 5,819 Intercompany 63,100 47,719 (110,819 ) - - Redeemable noncontrolling interests - - 576 - 576 Total equity 65,227 32,005 141,855 (205,852 ) 33,235 Total liabilities and equity $ 147,203 $ 79,765 $ 44,773 $ (205,855 ) $ 65,886 See notes to supplemental guarantor information Supplemental Condensed Consolidating Balance Sheet As of June 30, 2018 (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 $ 2,882 $ 3,323 $ 1,417 $ - $ 7,622 Receivables, net 11 - 7,110 (1 ) 7,120 Inventories, net - - 3,669 - 3,669 Other 45 - 877 - 922 Total current assets 2,938 3,323 13,073 (1 ) 19,333 Non-current assets Receivables, net 13 - 711 - 724 Inventories, net - - 7,518 - 7,518 Property, plant and equipment, net 343 - 1,613 - 1,956 Intangible assets, net - - 6,101 - 6,101 Goodwill - - 12,768 - 12,768 Other non-current assets 271 - 1,048 - 1,319 Investments Investments in associated companies and other investments 178 257 3,677 - 4,112 Intragroup investments 113,781 65,022 - (178,803 ) - Total investments 113,959 65,279 3,677 (178,803 ) 4,112 Total assets $ 117,524 $ 68,602 $ 46,509 $ (178,804 ) $ 53,831 LIABILITIES AND EQUITY Current liabilities Borrowings $ 950 $ - $ 104 $ - $ 1,054 Other current liabilities 528 31 6,632 (1 ) 7,190 Total current liabilities 1,478 31 6,736 (1 ) 8,244 Non-current liabilities Borrowings 17,280 - 1,189 - 18,469 Other non-current liabilities 502 89 4,965 - 5,556 Intercompany 45,817 48,918 (94,735 ) - - Redeemable noncontrolling interests - - 764 - 764 Total equity 52,447 19,564 127,590 (178,803 ) 20,798 Total liabilities and equity $ 117,524 $ 68,602 $ 46,509 $ (178,804 ) $ 53,831 See notes to supplemental guarantor information Supplemental Condensed Consolidating Statement of Cash Flows For the six months ended December 31, 2018 (in millions) 21st Century Fox America, Inc. Twenty-First Century Fox Non-Guarantor Reclassifications and Eliminations Twenty-First Century Fox and Subsidiaries OPERATING ACTIVITIES Net cash provided by (used in) operating activities from continuing operations $ 16,139 $ (1,414 ) $ (14,168 ) $ - $ 557 INVESTING ACTIVITIES Property, plant and equipment (25 ) - (194 ) - (219 ) Proceeds from dispositions, net (130 ) - 15,150 - 15,020 Other investing activities, net (129 ) - (343 ) - (472 ) Net cash (used in) provided by investing activities from continuing operations (284 ) - 14,613 - 14,329 FINANCING ACTIVITIES Borrowings - - 90 - 90 Repayment of borrowings (250 ) - (162 ) - (412 ) Dividends paid and distributions - (334 ) (183 ) - (517 ) Employee taxes paid for share-based payment arrangements (44 ) - (118 ) - (162 ) Other financing activities, net - - (89 ) - (89 ) Net cash used in financing activities from continuing operations (294 ) (334 ) (462 ) - (1,090 ) Discontinued operations Net decrease in cash and cash equivalents from discontinued operations (32 ) - - - (32 ) Net increase (decrease) in cash and cash equivalents 15,529 (1,748 ) (17 ) - 13,764 Cash and cash equivalents, beginning of year 2,882 3,323 1,417 - 7,622 Exchange movement on cash balances - - (105 ) - (105 ) Cash and cash equivalents, end of period $ 18,411 $ 1,575 $ 1,295 $ - $ 21,281 See notes to supplemental guarantor information Supplemental Condensed Consolidating Statement of Cash Flows For the six months ended December 31, 2017 (in millions) 21st Century Fox America, Inc. Twenty-First Century Fox Non-Guarantor Reclassifications and Eliminations Twenty-First Century Fox and Subsidiaries OPERATING ACTIVITIES Net cash provided by (used in) operating activities from continuing operations $ 177 $ (455 ) $ 782 $ - $ 504 INVESTING ACTIVITIES Property, plant and equipment (90 ) - (148 ) - (238 ) Proceeds from dispositions, net - - 362 - 362 Other investing activities, net (59 ) - (234 ) - (293 ) Net cash used in investing activities from continuing operations (149 ) - (20 ) - (169 ) FINANCING ACTIVITIES Borrowings - - 1,282 - 1,282 Repayment of borrowings - - (1,411 ) - (1,411 ) Dividends paid and distributions - (333 ) (179 ) - (512 ) Employee taxes paid for share-based payment arrangements (11 ) - (21 ) - (32 ) Other financing activities, net (18 ) - - - (18 ) Net cash used in financing activities from continuing operations (29 ) (333 ) (329 ) - (691 ) Discontinued operations Net decrease in cash and cash equivalents from discontinued operations (26 ) - - - (26 ) Net (decrease) increase in cash and cash equivalents (27 ) (788 ) 433 - (382 ) Cash and cash equivalents, beginning of year 40 4,882 1,241 - 6,163 Exchange movement on cash balances - - 28 - 28 Cash and cash equivalents, end of period $ 13 $ 4,094 $ 1,702 $ - $ 5,809 See notes to supplemental guarantor information Notes to Supplemental Guarantor Information (1) Investments in the Company’s subsidiaries, for purposes of the supplemental consolidating presentation, are accounted for by their parent companies under the equity method of accounting whereby earnings of subsidiaries are reflected in the respective parent company’s investment account and earnings. (2) The guarantees of 21CFA’s senior public indebtedness constitute senior indebtedness of the Company, and rank pari passu with all present and future senior indebtedness of the Company. Because the factual basis underlying the obligations created pursuant to the various facilities and other obligations constituting senior indebtedness of the Company differ, it is not possible to predict how a court in bankruptcy would accord priorities among the obligations of the Company.

Summary of Significant Accounti

Summary of Significant Accounting Policies (Policies)	6 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2018
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	Equity i nvestments 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. Significant influence is generally presumed to exist when the Company owns an interest between 20% and 50% and exercises significant influence. Equity investments in which the Company has no significant influence (generally less than a 20% ownership interest) with readily determinable fair values are recorded at fair value using quoted market prices If an equity investment’s fair value is not readily determinable and does not qualify for the net asset value (“NAV”) practical expedient, the Company will recognize it at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. The unrealized gains and losses and the adjustments related to the observable price changes are recognized in net income.
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 2018 amounts have been reclassified to conform to the fiscal 2019 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 and U.S. Tax Reform	Recently Adopted and Recently Issued Accounting Guidance and U.S. Tax Reform Adopted In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”). The core principle of ASU 2014-09 is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In addition, ASU 2014-09 requires additional disclosure around the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The Company adopted the requirements of ASU 2014-09 as of July 1, 2018, utilizing the modified retrospective method of transition which resulted in a transition adjustment for all contracts not completed as of July 1, 2018. The transition adjustment was recorded as an increase to the opening balance of Retained earnings in the Consolidated Balance Sheet (See Note 7 – Stockholders’ Equity) The new standard impacts the timing of revenue recognition for renewals or extensions of existing licensing agreements for intellectual property, which will be recognized as revenue once the customer can begin to use and benefit from the license rather than when the agreement is extended or renewed, under historical GAAP. The new standard requires the Company’s Filmed Entertainment segment to recognize revenues from certain television license deals earlier as opposed to recognizing those licenses over the term of the agreements. Conversely, revenues from certain of the Filmed Entertainment segment’s trademark licensing deals will be recognized over the license terms as opposed to recognition at inception as under historical GAAP. The adoption of the standard also resulted in the reclassification of the Company’s estimates of sales returns from a contra-asset allowance within receivables to a liability. ASU 2014-09 also requires enhanced disclosures relating to the Company’s revenues from contracts with customers (See Note 11 – Revenues), including the disaggregation of revenues. The following table presents the impact of the adoption of the standard on the Company’s Consolidated Statements of Operations: For the three months ended December 31, 2018 For the six months ended December 31, 2018 As reported Adjustments Without adoption of ASC 606 As reported Adjustments Without adoption of ASC 606 (in millions, except per share amounts) Revenues $ 8,499 $ (28 ) $ 8,471 $ 15,676 $ 50 $ 15,726 Operating expenses (6,005 ) 10 (5,995 ) (10,429 ) (43 ) (10,472 ) Selling, general and administrative (939 ) - (939 ) (1,829 ) - (1,829 ) Depreciation and amortization (159 ) - (159 ) (317 ) - (317 ) Impairment and restructuring charges - - - (16 ) - (16 ) Equity losses of affiliates (109 ) - (109 ) (74 ) (3 ) (77 ) Interest expense, net (294 ) - (294 ) (594 ) - (594 ) Interest income 86 - 86 94 - 94 Other, net 10,475 - 10,475 10,527 - 10,527 Income (loss) from continuing operations before income tax (expense) benefit 11,554 (18 ) 11,536 13,038 4 13,042 Income tax (expense) benefit (630 ) 4 (626 ) (756 ) (1 ) (757 ) Income (loss) from continuing operations 10,924 (14 ) 10,910 12,282 3 12,285 Loss from discontinued operations, net of tax (17 ) - (17 ) (24 ) - (24 ) Net income (loss) 10,907 (14 ) 10,893 12,258 3 12,261 Less: Net income attributable to noncontrolling interests (92 ) - (92 ) (158 ) - (158 ) Net income (loss) attributable to Twenty-First Century Fox stockholders $ 10,815 $ (14 ) $ 10,801 $ 12,100 $ 3 $ 12,103 Net income (loss) attributable to Twenty-First Century Fox stockholders per share Basic $ 5.83 $ (0.01 ) $ 5.82 $ 6.52 $ - $ 6.52 Diluted $ 5.80 $ (0.01 ) $ 5.79 $ 6.49 $ - $ 6.49 Changes to the opening balances of current assets, total assets, current liabilities and total liabilities resulting from the adoption of the new guidance were as follows: June 30, 2018 Adoption of ASC 606 impact July 1, 2018 (in millions) Current assets $ 19,333 $ 491 $ 19,824 Total assets 53,831 559 (a) 54,390 Current liabilities 8,244 256 8,500 Total liabilities 32,269 323 32,592 (a) Includes the Company’s proportionate share of Sky, plc’s (“Sky”) transition adjustment of approximately $145 million. In January 2016, the FASB issued ASU 2016-01, “Financial Instruments––Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities” (“ASU 2016-01”). The amendments in ASU 2016-01 address certain aspects of recognition, measurement, presentation and disclosure See Note 7 – Stockholders’ Equity) In addition, the Company recorded changes in the fair value of equity investments with readily determinable fair values in Net income rather than in Accumulated other comprehensive loss (See Note 12 – Additional Financial Information under the heading “Other, net”). In October 2016, the FASB issued ASU 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory” (“ASU 2016-16”). On July 1, 2018, the Company adopted ASU 2016-16 and recorded a deferred tax asset of approximately $2.3 billion related to the basis difference in an equity method investment on a modified retrospective basis, through a cumulative-effect adjustment to Retained earnings and also recorded a corresponding valuation allowance. As prescribed, a full valuation allowance was required because the Company was not able to establish sufficient evidence of future taxable income of the appropriate character to realize the deferred tax asset. As a result, the adoption of ASU 2016-16 did not have a material impact on the Company’s Consolidated Financial Statements. Due to the decision to sell Sky which was announced on September 26, 2018, management determined that the valuation allowance was no longer needed. As such, the Company released the valuation allowance related to its deferred tax asset as part of the estimated annual effective tax rate, resulting in a non-cash tax benefit of approximately $1.8 billion and $2.0 billion for the three and six months ended December 31, 2018, respectively. The remaining non-cash tax benefit of approximately $300 million will be realized during the year based upon the Company’s Income from continuing operations before income tax . On July 1, 2018, the Company early adopted ASU 2018-02, “Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income” (“ASU 2018-02”) on a prospective basis using the security-by-security approach. The objective of ASU 2018-02 is to eliminate the stranded tax effects resulting from the Tax Act (as defined below) and to improve the usefulness of information reported to financial statement users. The adoption of ASU 2018-02 resulted in a reclassification from Accumulated other comprehensive loss to Retained earnings related to the income tax effects on the change in the federal statutory rate (See Note 7 – Stockholders’ Equity under the heading “Accumulated other comprehensive loss”). Issued In February 2016, the FASB issued ASU 2016-02, “Leases (Topic 842)”, “Topic 842”, as amended. Topic 842 requires recognition of lease liabilities and right-of-use assets on the balance sheet and disclosure of key information about leasing arrangements. Topic 842 will be effective for the Company for annual and interim reporting periods beginning July 1, 2019. The Company expects to apply Topic 842 on a modified retrospective basis with the cumulative effect, if any, of initially applying the new guidance recognized at the date of initial application as an adjustment to opening Retained earnings. The Company is currently evaluating the impact Topic 842 will have on its consolidated financial statements including determining which practical expedients to apply. Since the Company has a significant amount of minimum lease commitments (See Note 15 – Commitments and Contingencies in the 2018 Form 10-K), the Company expects that the impact of recognizing operating lease liabilities and right-of-use assets will be significant to the Company’s Consolidated Balance Sheet. The Company is in process of gathering the necessary lease data and implementing accounting lease software for all leases as well as assessing necessary changes to the Company’s processes and controls to support the recognition and disclosure requirements in accordance with the new standard. In August 2018, the FASB issued ASU 2018-14, “Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans” (“ASU 2018-14”). The amendments in ASU 2018-14 modify certain aspects of disclosure about defined benefit pension and other postretirement plans. ASU 2018-14 will be effective for the Company for annual reporting periods beginning July 1, 2020. Early adoption is permitted. The Company is currently evaluating the impact ASU 2018-14 will have on its consolidated financial statements. U.S. Tax Reform On December 22, 2017, the U.S. government enacted tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act significantly revises the future ongoing U.S. corporate income tax by, among other things, lowering U.S. corporate income tax rates and implementing a territorial tax system. Effective July 1, 2018, the Company’s corporate income tax rate is 21%. The SEC issued guidance that allowed for a measurement period of up to one year after the enactment date of the Tax Act to finalize the recording of the related tax impacts. As of December 31, 2018, the Company has finalized its analysis and has not materially modified the provisional amounts previously recorded (See Note 2 – Summary of Significant Accounting Policies in the 2018 Form 10-K under the heading “U.S. Tax Reform”). The Tax Act also includes a new minimum tax on certain foreign earnings (“global intangible low-tax income” or “GILTI”) which imposes a tax on foreign earnings and profits in excess of a deemed return on tangible assets of foreign subsidiaries and allows a deduction for foreign-derived intangible income (“FDII”). These provisions are effective for the Company in the current fiscal year. For the six months ended December 31, 2018, the Company computed amounts for both items and included the impacts in its annualized effective tax rate calculation. The Company will account for the effects of GILTI as a component of income tax expense in the period the tax arises.
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 December 31, 2018 or June 30, 2018 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 December 31, 2018, the Company did not anticipate nonperformance by any of the counterparties.
Revenue from Contract with Customer	Revenue is recognized when control of the promised goods or services is transferred to the Company’s customers in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The Company considers the terms of each arrangement to determine the appropriate accounting treatment. Cable Network Programming and Television The Company generates affiliate fee revenue from affiliate agreements with MVPDs for cable network programming and for the broadcast of the Company’s owned and operated television stations. In addition, the Company generates affiliate fee revenue from affiliate agreements with independently-owned television stations that are affiliated with the FOX Network and receive retransmission consent fees from MVPDs for their signals. Affiliate fee revenue is recognized at a point in time when the network programming, a functional license of intellectual property, is made available to the customer which is done on a continuous basis. For contracts with affiliate fees based on the number of the affiliate’s subscribers, revenues are recognized based on the contractual rate multiplied by the estimated number of subscribers each period. For contracts with fixed affiliate fees, revenues are recognized based on the relative standalone selling price of the network programming provided over the contract term, which generally reflects the invoiced amount. Affiliate contracts are generally multi-year contracts with payments due monthly. The Company classifies the amortization of cable distribution investments (capitalized fees paid to MVPDs to facilitate carriage of a cable network) against affiliate fee revenue in accordance with ASC 606-10-32-25 through 27, “Revenue Recognition—Consideration Payable to a Customer.” The Company defers the cable distribution investments and amortizes the amounts on a straight-line basis over the contract period. The Company generates advertising revenue from sales of commercial time within the Company’s network programming to be aired by television networks and cable channels, and from sales of broadcast advertising time on the Company’s owned television stations and various digital properties. Advertising revenue from customers, primarily advertising agencies, is recognized as the commercials are aired. Certain of the Company’s advertising contracts have guarantees of a certain number of targeted audience views, referred to as impressions. Revenues for any audience deficiencies are deferred until the guaranteed number of impressions is met, by providing additional advertisements. Advertising contracts, which are generally short-term, are billed monthly for the spots aired during the month, with payments due shortly after the invoice date. Filmed Entertainment The Company’s Filmed Entertainment segment generates revenue from the licensing of motion pictures and television content produced or acquired for distribution by the Company. In general, motion pictures are exhibited in U.S. and foreign theaters, followed by home entertainment, including sales and rentals of DVDs and Blu-rays, licensing through digital distribution platforms, premium subscription television, network television and basic cable and syndicated television exploitation. Television series initially produced for the networks and first-run syndication are generally licensed to domestic and international markets, concurrently and subsequently made available via digital distribution platforms and released in seasonal DVDs and Blu-ray box sets. Content revenues from the licensing of motion pictures and television series are recognized when the content is made available to the licensee for exhibition at the beginning of the license period. If an existing licensing agreement is renewed or extended, the Company recognizes revenue at the later of when the content is available or when the renewal or extension period commences. For contracts that include variable fees in the form of sales-based or usage-based royalties, revenue is recognized when the underlying sales or usage occurs. Payment terms and duration of content licensing contracts vary by contract, typically with payments due over the license term. Revenues from the theatrical distribution of motion pictures are recognized as the licensee exhibits or exploits them. Revenues from home entertainment sales, net of a reserve for estimated returns, are recognized on the date that DVD and Blu-ray units are made widely available for sale by retailers or when made available for viewing via digital distribution platforms and all Company-imposed restrictions on the sale or availability have expired. Revenues from digital distribution platforms are generally recognized when the underlying sales occur. License agreements for the broadcast of motion pictures and television series in the broadcast network, syndicated television and cable television markets are routinely entered in advance of their availability date for broadcast. Cash received and amounts billed in connection with such contractual rights, for which revenue is not yet recognizable, are classified as deferred revenue. Because deferred revenue generally relates to contracts for the licensing of motion pictures and television series which have already been produced, the recognition of revenue for such completed product is principally dependent upon the commencement of the availability period for broadcast under the terms of the related licensing agreement. The Company earns and recognizes revenues as a distributor on behalf of third parties. In such cases, determining whether revenue should be reported on a gross or net basis is based on management’s assessment of whether the Company obtains control of the content before licensing it to the customer. To the extent the Company obtains control and thereby acts as the principal in a transaction, revenues are reported on a gross basis. Determining whether the Company acts as principal or agent in a transaction involves judgment and is based on an evaluation of whether the Company has the ability to direct the use of and obtain substantially all of the remaining benefits from the third-party content.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	6 Months Ended
Basis of Presentation (Tables)	Dec. 31, 2018
ASU 2014-09
Schedule of Impact of Adoption of Standard on Consolidated Statement of Operations and to the Opening Consolidated Balance Sheet	The following table presents the impact of the adoption of the standard on the Company’s Consolidated Statements of Operations: For the three months ended December 31, 2018 For the six months ended December 31, 2018 As reported Adjustments Without adoption of ASC 606 As reported Adjustments Without adoption of ASC 606 (in millions, except per share amounts) Revenues $ 8,499 $ (28 ) $ 8,471 $ 15,676 $ 50 $ 15,726 Operating expenses (6,005 ) 10 (5,995 ) (10,429 ) (43 ) (10,472 ) Selling, general and administrative (939 ) - (939 ) (1,829 ) - (1,829 ) Depreciation and amortization (159 ) - (159 ) (317 ) - (317 ) Impairment and restructuring charges - - - (16 ) - (16 ) Equity losses of affiliates (109 ) - (109 ) (74 ) (3 ) (77 ) Interest expense, net (294 ) - (294 ) (594 ) - (594 ) Interest income 86 - 86 94 - 94 Other, net 10,475 - 10,475 10,527 - 10,527 Income (loss) from continuing operations before income tax (expense) benefit 11,554 (18 ) 11,536 13,038 4 13,042 Income tax (expense) benefit (630 ) 4 (626 ) (756 ) (1 ) (757 ) Income (loss) from continuing operations 10,924 (14 ) 10,910 12,282 3 12,285 Loss from discontinued operations, net of tax (17 ) - (17 ) (24 ) - (24 ) Net income (loss) 10,907 (14 ) 10,893 12,258 3 12,261 Less: Net income attributable to noncontrolling interests (92 ) - (92 ) (158 ) - (158 ) Net income (loss) attributable to Twenty-First Century Fox stockholders $ 10,815 $ (14 ) $ 10,801 $ 12,100 $ 3 $ 12,103 Net income (loss) attributable to Twenty-First Century Fox stockholders per share Basic $ 5.83 $ (0.01 ) $ 5.82 $ 6.52 $ - $ 6.52 Diluted $ 5.80 $ (0.01 ) $ 5.79 $ 6.49 $ - $ 6.49 Changes to the opening balances of current assets, total assets, current liabilities and total liabilities resulting from the adoption of the new guidance were as follows: June 30, 2018 Adoption of ASC 606 impact July 1, 2018 (in millions) Current assets $ 19,333 $ 491 $ 19,824 Total assets 53,831 559 (a) 54,390 Current liabilities 8,244 256 8,500 Total liabilities 32,269 323 32,592 (a) Includes the Company’s proportionate share of Sky, plc’s (“Sky”) transition adjustment of approximately $145 million.

Inventories, Net (Tables)

Inventories, Net (Tables)	6 Months Ended
Inventories, Net (Tables)	Dec. 31, 2018
Inventory Disclosure [Abstract]
Schedule of Inventories, Net	The Company’s inventories were comprised of the following: As of December 31, 2018 As of June 30, 2018 (in millions) Programming rights Sports Programming rights $ 3,920 $ 3,676 Entertainment Programming rights (a) 3,311 3,263 Filmed entertainment costs Films Released, less accumulated amortization 1,109 1,249 Completed, not released 195 98 In production 1,900 1,556 In development or preproduction 245 221 - 3,449 3,124 Television productions Released, less accumulated amortization 645 743 In production, development or preproduction 742 381 1,387 1,124 Total filmed entertainment costs, less accumulated amortization (b) 4,836 4,248 Total inventories, net 12,067 11,187 Less: current portion of inventories, net (c) (3,934 ) (3,669 ) Total non-current inventories, net $ 8,133 $ 7,518 (a) Includes DVDs, Blu-rays and other merchandise. (b) Does not include $195 million and $210 million of net intangible film library costs as of December 31, 2018 and June 30, 2018, respectively, which were included in intangible assets subject to amortization in the Consolidated Balance Sheets. (c) Current portion of inventories, net as of December 31, 2018 and June 30, 2018 was comprised of programming rights ($3,886 million and $3,625 million, respectively), DVDs, Blu-rays and other merchandise.

Investments (Tables)

Investments (Tables)	6 Months Ended
Investments (Tables)	Dec. 31, 2018
Investments [Abstract]
Schedule of Investments	The Company’s investments were comprised of the following: Ownership percentage as of December 31, 2018 As of December 31, 2018 As of June 30, 2018 (in millions) Sky (a) European direct broadcast satellite operator -% $ - $ 3,306 Endemol Shine Group (b) Global multi-platform content provider 50% 168 188 Other investments (c) various 665 618 Total investments $ 833 $ 4,112 (a) In October 2018, the Company sold its 39% investment in Sky. ( b ) Equity method investment. ( c ) Includes an investment with a readily determinable fair value of $185 million as of December 31, 2018 (See Note 5 – Fair Value

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
Fair Value (Tables)	Dec. 31, 2018
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 following tables present information about financial assets and liabilities carried at fair value on a recurring basis: Fair value measurements As of December 31, 2018 Total Level 1 Level 2 Level 3 (in millions) Assets Investments (a) $ 185 $ 185 $ - $ - Derivatives (b) 7 - 7 - Other (c) 65 - - 65 Liabilities Derivatives (b) (10 ) - (10 ) - Redeemable noncontrolling interests (576 ) - - (576 ) Total $ (329 ) $ 185 $ (3 ) $ (511 ) As of June 30, 2018 Total Level 1 Level 2 Level 3 (in millions) Assets Investments (a) $ 257 $ 257 $ - $ - Derivatives (b) 14 - 14 - Other (c) 73 - - 73 Redeemable noncontrolling interests (764 ) - - (764 ) Total $ (420 ) $ 257 $ 14 $ (691 ) ( a ) Represents an investment in equity securities with a readily determinable fair value. ( b ) Represents derivatives associated with the Company’s foreign currency and interest rate swap contracts. ( c ) Primarily relates to past acquisitions, including contingent consideration agreements.
Schedule of Fair Value and Carrying Value of Borrowings	As of December 31, 2018 As of June 30, 2018 (in millions) Borrowings Fair value $ 22,809 $ 22,591 Carrying value $ 19,208 $ 19,523
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 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 Sky Acquisition. For accounting purposes, the option contract did not qualify for hedge accounting and therefore was treated as an economic hedge (See Note 4 – Investments under the heading “Sky”). As of December 31, 2018 As of June 30, 2018 (in millions) Cash Flow Hedges Notional amount $ 286 $ 119 Fair value $ (9 ) $ (2 ) 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 year. As of December 31, 2018 As of June 30, 2018 (in millions) Economic Hedges Notional amount $ 16 $ 12,788 (a) Fair value $ - $ 8 (a) ( a) As of June 30, 2018, the notional amount and fair value primarily relates to a foreign currency option contract to limit the foreign currency exchange rate risk in connection with the Sky Acquisition which had a premium payable of approximately $50 million. In September 2018, the Company paid the premium to settle this foreign currency option contract which was included in Proceeds from dispositions, net in the Unaudited Consolidated Statement of Cash Flows.
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 December 31, 2018 As of June 30, 2018 (in millions) Cash Flow Hedges Notional amount $ 580 $ 608 \ Fair value $ 6 $ 8
Redeemable Noncontrolling Interests
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Changes in Fair Value of Financial Liabilities on a Recurring Basis Using Level 3	The changes in redeemable noncontrolling interests classified as Level 3 measurements were as follows: For the six months ended December 31, 2018 2017 (in millions) Beginning of period $ (764 ) $ (694 ) Net income (60 ) (77 ) Distributions and other 248 (a) 59 - End of period $ (576 ) $ (712 ) (a) As a result of the expiration of a put arrangement, approximately $200 million was reclassified into Retained earnings.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
Stockholders' Equity (Tables)	Dec. 31, 2018
Stockholders Equity Note [Abstract]
Schedule of Changes in Stockholders' Equity	The following tables summarize changes in stockholders’ equity: For the three months ended December 31, 2018 For the six months ended December 31, 2018 Twenty-First Century Fox stockholders Noncontrolling interests Total equity Twenty-First Century Fox stockholders Noncontrolling interests Total equity (in millions) Balance, beginning of period $ 20,698 $ 1,226 $ 21,924 $ 19,564 $ 1,234 $ 20,798 Adoption of ASUs - - - 244 (a) - 244 Adjusted balance, beginning of period 20,698 1,226 21,924 19,808 1,234 21,042 Net income 10,815 56 (b) 10,871 12,100 98 (b) 12,198 Other comprehensive income (loss) 475 (5 ) 470 319 (9 ) 310 Issuance of shares 71 - 71 204 - 204 Dividends declared - - - (334 ) - (334 ) Other (54 ) (47 ) (c) (101 ) (92 ) (93 ) (c) (185 ) - Balance, end of period $ 32,005 $ 1,230 $ 33,235 $ 32,005 $ 1,230 $ 33,235 For the three months ended December 31, 2017 For the six months ended December 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 $ 16,304 $ 1,252 $ 17,556 $ 15,722 $ 1,216 $ 16,938 Net income 1,831 37 (b) 1,868 2,686 73 (b) 2,759 Other comprehensive income 227 4 231 369 13 382 Issuance of shares - - - 41 - 41 Dividends declared - - - (333 ) - (333 ) Other 27 (51 ) (c) (24 ) (96 ) (60 ) (c) (156 ) - Balance, end of period $ 18,389 $ 1,242 $ 19,631 $ 18,389 $ 1,242 $ 19,631 ( a) Primarily represents the adoption of ASU 2014-09 (See Note 1 – Basis of Presentation under the heading “Recently Adopted and Recently Issued Accounting Guidance and U.S. Tax Reform” for additional information). Approximately $145 million of the transition adjustment relates to the Company’s proportionate share of Sky’s transition adjustment ( b ) Net income attributable to noncontrolling interests excludes $36 million and $48 million for the three months ended December 31, 2018 and 2017, respectively, and $60 million and $77 million for the six months ended December 31, 2018 and 2017, respectively, relating to redeemable noncontrolling interests which are reflected in temporary equity. ( c ) Other activity attributable to noncontrolling interests excludes $(11) million and $(35) million for the three months ended December 31, 2018 and 2017, respectively, and $(248) million and $(59) million for the six months ended December 31, 2018 and 2017, respectively, relating to redeemable noncontrolling interests (See Note 5 – Fair Value)
Schedule of Activity within Other Comprehensive Income (Loss)	The following tables summarize the activity within Other comprehensive income (loss): For the three months ended December 31, 2018 For the six months ended December 31, 2018 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) $ 11 $ (1 ) $ 10 $ (121 ) $ (1 ) $ (122 ) Reclassifications realized in net income (a) 6 (2 ) 4 6 (2 ) 4 Other comprehensive income (loss) (b) $ 17 $ (3 ) $ 14 $ (115 ) $ (3 ) $ (118 ) Cash flow hedges Unrealized losses $ (9 ) $ 2 $ (7 ) $ (9 ) $ 2 $ (7 ) Reclassifications realized in net income (c) 1 - 1 1 - 1 Other comprehensive loss $ (8 ) $ 2 $ (6 ) $ (8 ) $ 2 $ (6 ) Benefit plan adjustments Unrealized gains $ 13 $ (3 ) $ 10 $ 13 $ (3 ) $ 10 Reclassifications realized in net income (d) 7 (1 ) 6 15 (3 ) 12 Other comprehensive income $ 20 $ (4 ) $ 16 $ 28 $ (6 ) $ 22 Equity method investments Unrealized losses and reclassifications $ (5 ) $ - $ (5 ) $ (47 ) $ 8 $ (39 ) Amount reclassified on sale of Sky (a) 627 (176 ) 451 627 (176 ) 451 Other comprehensive income $ 622 $ (176 ) $ 446 $ 580 $ (168 ) $ 412 For the three months ended For the six months ended Before tax Tax (provision) benefit Net of tax Before tax Tax (provision) benefit Net of tax (in millions) Foreign currency translation adjustments Unrealized gains $ 38 $ - $ 38 $ 79 $ - $ 79 Other comprehensive income (b) $ 38 $ - $ 38 $ 79 $ - $ 79 Cash flow hedges Unrealized gains $ 1 $ - $ 1 $ 9 $ (3 ) $ 6 Reclassifications realized in net income (c) (3 ) 1 (2 ) (11 ) 4 (7 Other comprehensive loss $ (2 ) $ 1 $ (1 ) $ (2 ) $ 1 $ (1 ) Gains on securities Unrealized gains $ 154 $ (57 ) $ 97 $ 283 $ (104 ) $ 179 Other comprehensive income $ 154 $ (57 ) $ 97 $ 283 $ (104 ) $ 179 Benefit plan adjustments Reclassifications realized in net income (d) $ 96 $ (35 ) $ 61 $ 106 $ (39 ) $ 67 Other comprehensive income $ 96 $ (35 ) $ 61 $ 106 $ (39 ) $ 67 Equity method investments Unrealized gains and reclassifications $ 50 $ (14 ) $ 36 $ 84 $ (26 ) $ 58 Other comprehensive income $ 50 $ (14 ) $ 36 $ 84 $ (26 ) $ 58 (a) Reclassifications of amounts related to dispositions are included in Other, net in the Unaudited Consolidated Statements of Operations . (b) Foreign currency translation adjustments include $(5) million and $4 million for the three months ended December 31, 2018 and 2017, respectively, and $(9) million and $13 million for the six months ended December 31, 2018 and 2017, respectively, relating to noncontrolling interests. ( c ) 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 (See Note 5 – Fair Value for additional information regarding hedging activity). ( d ) Reclassifications of amounts related to benefit plan adjustments are included in Other, net in the Unaudited Consolidated Statements of Operations.
Summary of Changes in the Components of Accumulated Other Comprehensive Loss, Net of Tax	The following table summarizes the changes in the components of Accumulated other comprehensive loss, net of tax: For the six months ended December 31, 2018 Foreign currency translation adjustments Cash flow hedges Unrealized holding gains on securities Benefit plan adjustments Equity method investments Accumulated other comprehensive loss (in millions) Balance, beginning of period $ (1,317 ) $ 4 $ 132 $ (307 ) $ (513 ) $ (2,001 ) Adoption of ASUs - 1 (a) (132 ) (b) (66 ) (a) - (197 ) Other comprehensive (loss) income, net of tax (109 ) (6 ) - 22 412 319 Balance, end of period $ (1,426 ) $ (1 ) $ - $ (351 ) $ (101 ) $ (1,879 ) (a) Reflects the adoption of ASU 2018-02 (See Note 1 – Basis of Presentation under the heading “Recently Adopted and Recently Issued Accounting Guidance and U.S. Tax Reform” for additional information). (b) Reflects the adoption of ASU 2016-01 (See Note 1 – Basis of Presentation under the heading “Recently Adopted and Recently Issued Accounting Guidance and U.S. Tax Reform” for additional information).
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 December 31, For the six months ended December 31, 2018 2017 2018 2017 (in millions) Income from continuing operations $ 10,924 $ 1,921 $ 12,282 $ 2,825 Less: Net income attributable to noncontrolling interests (92 ) (85 ) (158 ) (150 ) Income from continuing operations attributable to Twenty-First Century Fox stockholders $ 10,832 $ 1,836 $ 12,124 $ 2,675
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 six months ended 2018 2017 Cash dividend per share $ 0.18 $ 0.18

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	6 Months Ended
Equity-Based Compensation (Tables)	Dec. 31, 2018
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 December 31, For the six months ended December 31, 2018 2017 2018 2017 (in millions) Equity-based compensation $ 107 $ 39 $ 157 $ 66 Intrinsic value of all settled equity-based awards $ 139 $ - $ 368 $ 74

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
Segment Information (Tables)	Dec. 31, 2018
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) benefit to Total Segment OIBDA for the three and six months ended December 31, 2018 and 2017: For the three months ended December 31, For the six months ended December 31, 2018 2017 2018 2017 (in millions) Income from continuing operations before income tax (expense) benefit $ 11,554 $ 703 $ 13,038 $ 1,998 Add Amortization of cable distribution investments 10 25 20 43 Depreciation and amortization 159 142 317 284 Impairment and restructuring charges - 3 16 24 Equity losses (earnings) of affiliates 109 33 74 (27 ) Interest expense, net 294 312 594 625 Interest income (86 ) (9 ) (94 ) (19 ) Other, net (10,475 ) 229 (10,527 ) 301 Total Segment OIBDA $ 1,565 $ 1,438 $ 3,438 $ 3,229
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 six months ended December 31, 2018 and 2017: For the three months ended December 31, For the six months ended December 31, 2018 2017 2018 2017 (in millions) Revenues Cable Network Programming $ 4,562 $ 4,405 $ 8,909 $ 8,601 Television 2,148 1,806 3,424 2,871 Filmed Entertainment 2,159 2,246 3,975 4,209 Other, Corporate and Eliminations (370 ) (420 ) (632 ) (642 ) Total revenues $ 8,499 $ 8,037 $ 15,676 $ 15,039 Segment OIBDA Cable Network Programming $ 1,454 $ 1,365 $ 2,991 $ 2,876 Television (22 ) 56 146 178 Filmed Entertainment 193 131 470 387 Other, Corporate and Eliminations (60 ) (114 ) (169 ) (212 ) Total Segment OIBDA $ 1,565 $ 1,438 $ 3,438 $ 3,229
Reconciliation of Depreciation and Amortization from Segments to Consolidated	For the three months ended December 31, For the six months ended December 31, 2018 2017 2018 2017 (in millions) Depreciation and amortization Cable Network Programming $ 98 $ 86 $ 195 $ 171 Television 25 27 51 54 Filmed Entertainment 25 23 50 46 Other, Corporate and Eliminations 11 6 21 13 Total depreciation and amortization $ 159 $ 142 $ 317 $ 284
Reconciliation of Assets from Segments to Consolidated	As of December 31, 2018 As of June 30, 2018 (in millions) Assets Cable Network Programming $ 25,515 $ 25,756 Television 7,612 6,779 Filmed Entertainment 11,866 10,646 Other, Corporate and Eliminations 20,060 6,538 Investments 833 4,112 Total assets $ 65,886 $ 53,831
Reconciliation of Revenue from Components to Consolidated	Revenues by Component For the three months ended December 31, For the six months ended December 31, 2018 2017 2018 2017 (in millions) Revenues Affiliate fee $ 3,482 $ 3,252 $ 6,977 $ 6,488 Advertising 2,698 2,496 4,470 4,119 Content 2,118 2,140 3,889 4,159 Other 201 149 340 273 Total revenues $ 8,499 $ 8,037 $ 15,676 $ 15,039

Revenues (Tables)

Revenues (Tables)	6 Months Ended
Revenues (Tables)	Dec. 31, 2018
Revenue From Contract With Customer [Abstract]
Summary of Revenues by Segment by Component	The following table sets forth the Company’s Revenues by Segment by Component for the three and six months ended December 31, 2018 and 2017: For the three months ended December 31, For the six months ended December 31, 2018 2017 2018 2017 (in millions) Cable Network Programming Affiliate fee $ 3,075 $ 2,915 $ 6,172 $ 5,817 Advertising, content and other 1,487 1,490 2,737 2,784 Total Cable Network Programming revenues 4,562 4,405 8,909 8,601 Television Advertising 1,634 1,416 2,433 2,071 Affiliate fee, content and other 514 390 991 800 Total Television revenues 2,148 1,806 3,424 2,871 Filmed Entertainment Content 2,059 2,168 3,784 4,059 Advertising and other 100 78 191 150 Total Filmed Entertainment revenues 2,159 2,246 3,975 4,209 Other, Corporate and Eliminations (370 ) (420 ) (632 ) (642 ) Total revenues $ 8,499 $ 8,037 $ 15,676 $ 15,039
Schedule of Receivables, Net	Receivables, net as of December 31, 2018 and July 1, 2018 consist of: As of December 31, 2018 As of July 1, 2018 (in millions) Total receivables $ 9,118 $ 8,553 Allowances for doubtful accounts (176 ) (169 ) Total receivables, net 8,942 8,384 Less: current receivables, net (8,083 ) (7,625 ) Non-current receivables, net $ 859 $ 759
Schedule of Deferred Revenue Balances	The following table sets forth the Deferred revenue balances as of December 31, 2018 and July 1, 2018: As of December 31, 2018 As of July 1, 2018 (in millions) Current deferred revenue $ 855 $ 791 Noncurrent deferred revenue $ 277 $ 291

Additional Financial Informat_2

Additional Financial Information (Tables)	6 Months Ended
Additional Financial Information (Tables)	Dec. 31, 2018
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 December 31, For the six months ended December 31, 2018 2017 2018 2017 (in millions) Gain on sale of investment in Sky and other transaction costs (a) $ 10,870 $ (85 ) $ 10,824 $ (139 ) Disney transaction costs (b) (119 ) (32 ) (187 ) (32 ) Unrealized losses on investments (c) (255 ) - (72 ) - Settlement loss on pension liabilities (d) - (86 ) - (86 ) Other (21 ) (26 ) (38 ) (44 ) Total other, net $ 10,475 $ (229 ) $ 10,527 $ (301 ) (a) Primarily represents the gain on the sale of investment in Sky for the three and six months ended December 31, 2018 and the change in fair value of a foreign currency option contract to limit the foreign currency exchange rate risk in connection with the Sky Acquisition for the three and six months ended December 31, 2017 (See Note 4 – Investments under the heading “Sky” for further discussion). (b) See Note 2 – Acquisitions, Disposals and Other Transactions. ( c ) ( d ) During the three and six months ended December 31, 2017, the Company settled a portion of its pension obligations by irrevocably transferring pension liabilities to an insurance company through the purchase of a group annuity contract and through lump sum distributions. These payments, funded with pension plan assets, resulted in pre-tax settlement losses related to the recognition of accumulated deferred actuarial losses.
Supplemental Cash Flows Information	For the six months ended December 31, 2018 2017 (in millions) Supplemental cash flows information Cash paid for income taxes $ (390 ) $ (663 ) Cash paid for interest $ (623 ) $ (596 )

Supplemental Guarantor Inform_2

Supplemental Guarantor Information (Tables)	6 Months Ended
Supplemental Guarantor Information (Tables)	Dec. 31, 2018
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Supplemental Condensed Consolidating Statements of Operations	Supplemental Condensed Consolidating Statement of Operations For the three months ended December 31, 2018 (in millions) 21st Century Fox America, Inc. Twenty-First Century Fox Non-Guarantor Reclassifications and Eliminations Twenty-First Century Fox and Subsidiaries Revenues $ - $ - $ 8,499 $ - $ 8,499 Expenses (103 ) - (7,000 ) - (7,103 ) Equity losses of affiliates - - (109 ) - (109 ) Interest expense, net (483 ) (209 ) (22 ) 420 (294 ) Interest income 82 2 422 (420 ) 86 Earnings from subsidiary entities 12,108 11,294 - (23,402 ) - Other, net (150 ) (255 ) 10,880 - 10,475 Income from continuing operations before income tax expense 11,454 10,832 12,670 (23,402 ) 11,554 Income tax expense (628 ) - (678 ) 676 (630 ) Income from continuing operations 10,826 10,832 11,992 (22,726 ) 10,924 Loss from discontinued operations, net of tax - (17 ) - - (17 ) Net income 10,826 10,815 11,992 (22,726 ) 10,907 Less: Net income attributable to noncontrolling interests - - (92 ) - (92 ) Net income attributable to Twenty-First Century Fox stockholders $ 10,826 $ 10,815 $ 11,900 $ (22,726 ) $ 10,815 Comprehensive income attributable to Twenty-First Century Fox stockholders $ 11,209 $ 11,290 $ 12,318 $ (23,527 ) $ 11,290 Supplemental Condensed Consolidating Statement of Operations For the three months ended December 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 $ - $ - $ 8,037 $ - $ 8,037 Expenses (100 ) - (6,669 ) - (6,769 ) Equity losses of affiliates - - (33 ) - (33 ) Interest expense, net (436 ) (205 ) (20 ) 349 (312 ) Interest income - 5 353 (349 ) 9 Earnings from subsidiary entities 3,193 2,036 - (5,229 ) - Other, net (206 ) - (23 ) - (229 ) Income from continuing operations before income tax benefit 2,451 1,836 1,645 (5,229 ) 703 Income tax benefit 1,783 - 2,123 (2,688 ) 1,218 Income from continuing operations 4,234 1,836 3,768 (7,917 ) 1,921 Loss from discontinued operations, net of tax - (5 ) - - (5 ) Net income 4,234 1,831 3,768 (7,917 ) 1,916 Less: Net income attributable to noncontrolling interests - - (85 ) - (85 ) Net income attributable to Twenty-First Century Fox stockholders $ 4,234 $ 1,831 $ 3,683 $ (7,917 ) $ 1,831 Comprehensive income attributable to Twenty-First Century Fox stockholders $ 4,278 $ 2,058 $ 3,743 $ (8,021 ) $ 2,058 Supplemental Condensed Consolidating Statement of Operations For the six months ended December 31, 2018 (in millions) 21st Century Fox America, Inc. Twenty-First Century Fox Non-Guarantor Reclassifications and Eliminations Twenty-First Century Fox and Subsidiaries Revenues $ - $ - $ 15,676 $ - $ 15,676 Expenses (194 ) - (12,397 ) - (12,591 ) Equity losses of affiliates - - (74 ) - (74 ) Interest expense, net (930 ) (411 ) (45 ) 792 (594 ) Interest income 82 5 799 (792 ) 94 Earnings from subsidiary entities 14,097 12,602 - (26,699 ) - Other, net (232 ) (72 ) 10,831 - 10,527 Income from continuing operations before income tax expense 12,823 12,124 14,790 (26,699 ) 13,038 Income tax expense (744 ) - (858 ) 846 (756 ) Income from continuing operations 12,079 12,124 13,932 (25,853 ) 12,282 Loss from discontinued operations, net of tax - (24 ) - - (24 ) Net income 12,079 12,100 13,932 (25,853 ) 12,258 Less: Net income attributable to noncontrolling interests - - (158 ) - (158 ) Net income attributable to Twenty-First Century Fox stockholders $ 12,079 $ 12,100 $ 13,774 $ (25,853 ) $ 12,100 Comprehensive income attributable to Twenty-First Century Fox stockholders $ 12,251 $ 12,419 $ 14,008 $ (26,259 ) $ 12,419 Supplemental Condensed Consolidating Statement of Operations For the six months ended December 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 $ - $ - $ 15,039 $ - $ 15,039 Expenses (176 ) - (11,985 ) - (12,161 ) Equity earnings of affiliates - - 27 - 27 Interest expense, net (866 ) (410 ) (42 ) 693 (625 ) Interest income - 10 702 (693 ) 19 Earnings from subsidiary entities 4,784 3,075 - (7,859 ) - Other, net (219 ) - (82 ) - (301 ) - Income from continuing operations before income tax benefit 3,523 2,675 3,659 (7,859 ) 1,998 Income tax benefit 1,459 - 1,515 (2,147 ) 827 - Income from continuing operations 4,982 2,675 5,174 (10,006 ) 2,825 Income from discontinued operations, net of tax - 11 - - 11 - Net income 4,982 2,686 5,174 (10,006 ) 2,836 Less: Net income attributable to noncontrolling interests - - (150 ) - (150 ) - Net income attributable to Twenty-First Century Fox stockholders $ 4,982 $ 2,686 $ 5,024 $ (10,006 ) $ 2,686 $ - Comprehensive income attributable to Twenty-First Century Fox stockholders $ 5,000 $ 3,055 $ 5,161 $ (10,161 ) $ 3,055
Supplemental Condensed Consolidating Balance Sheets	Supplemental Condensed Consolidating Balance Sheet As of December 31, 2018 (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 $ 18,411 $ 1,575 $ 1,295 $ - $ 21,281 Receivables, net 11 2 8,073 (3 ) 8,083 Inventories, net - - 3,934 - 3,934 Other 48 - 671 - 719 - Total current assets 18,470 1,577 13,973 (3 ) 34,017 Non-current assets Receivables, net 13 - 846 - 859 Inventories, net - - 8,133 - 8,133 Property, plant and equipment, net 345 - 1,626 - 1,971 Intangible assets, net - - 5,970 - 5,970 Goodwill - - 12,758 - 12,758 Other non-current assets 262 - 1,083 - 1,345 Investments Investments in associated companies and other investments 263 186 384 - 833 Intragroup investments 127,850 78,002 - (205,852 ) - - Total investments 128,113 78,188 384 (205,852 ) 833 Total assets $ 147,203 $ 79,765 $ 44,773 $ (205,855 ) $ 65,886 LIABILITIES AND EQUITY Current liabilities Borrowings $ 700 $ - $ 187 $ - $ 887 Other current liabilities 408 41 6,602 (3 ) 7,048 Total current liabilities 1,108 41 6,789 (3 ) 7,935 Non-current liabilities Borrowings 17,286 - 1,035 - 18,321 Other non-current liabilities 482 - 5,337 - 5,819 Intercompany 63,100 47,719 (110,819 ) - - Redeemable noncontrolling interests - - 576 - 576 Total equity 65,227 32,005 141,855 (205,852 ) 33,235 Total liabilities and equity $ 147,203 $ 79,765 $ 44,773 $ (205,855 ) $ 65,886 Supplemental Condensed Consolidating Balance Sheet As of June 30, 2018 (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 $ 2,882 $ 3,323 $ 1,417 $ - $ 7,622 Receivables, net 11 - 7,110 (1 ) 7,120 Inventories, net - - 3,669 - 3,669 Other 45 - 877 - 922 Total current assets 2,938 3,323 13,073 (1 ) 19,333 Non-current assets Receivables, net 13 - 711 - 724 Inventories, net - - 7,518 - 7,518 Property, plant and equipment, net 343 - 1,613 - 1,956 Intangible assets, net - - 6,101 - 6,101 Goodwill - - 12,768 - 12,768 Other non-current assets 271 - 1,048 - 1,319 Investments Investments in associated companies and other investments 178 257 3,677 - 4,112 Intragroup investments 113,781 65,022 - (178,803 ) - Total investments 113,959 65,279 3,677 (178,803 ) 4,112 Total assets $ 117,524 $ 68,602 $ 46,509 $ (178,804 ) $ 53,831 LIABILITIES AND EQUITY Current liabilities Borrowings $ 950 $ - $ 104 $ - $ 1,054 Other current liabilities 528 31 6,632 (1 ) 7,190 Total current liabilities 1,478 31 6,736 (1 ) 8,244 Non-current liabilities Borrowings 17,280 - 1,189 - 18,469 Other non-current liabilities 502 89 4,965 - 5,556 Intercompany 45,817 48,918 (94,735 ) - - Redeemable noncontrolling interests - - 764 - 764 Total equity 52,447 19,564 127,590 (178,803 ) 20,798 Total liabilities and equity $ 117,524 $ 68,602 $ 46,509 $ (178,804 ) $ 53,831
Supplemental Condensed Consolidating Statements of Cash Flows	Supplemental Condensed Consolidating Statement of Cash Flows For the six months ended December 31, 2018 (in millions) 21st Century Fox America, Inc. Twenty-First Century Fox Non-Guarantor Reclassifications and Eliminations Twenty-First Century Fox and Subsidiaries OPERATING ACTIVITIES Net cash provided by (used in) operating activities from continuing operations $ 16,139 $ (1,414 ) $ (14,168 ) $ - $ 557 INVESTING ACTIVITIES Property, plant and equipment (25 ) - (194 ) - (219 ) Proceeds from dispositions, net (130 ) - 15,150 - 15,020 Other investing activities, net (129 ) - (343 ) - (472 ) Net cash (used in) provided by investing activities from continuing operations (284 ) - 14,613 - 14,329 FINANCING ACTIVITIES Borrowings - - 90 - 90 Repayment of borrowings (250 ) - (162 ) - (412 ) Dividends paid and distributions - (334 ) (183 ) - (517 ) Employee taxes paid for share-based payment arrangements (44 ) - (118 ) - (162 ) Other financing activities, net - - (89 ) - (89 ) Net cash used in financing activities from continuing operations (294 ) (334 ) (462 ) - (1,090 ) Discontinued operations Net decrease in cash and cash equivalents from discontinued operations (32 ) - - - (32 ) Net increase (decrease) in cash and cash equivalents 15,529 (1,748 ) (17 ) - 13,764 Cash and cash equivalents, beginning of year 2,882 3,323 1,417 - 7,622 Exchange movement on cash balances - - (105 ) - (105 ) Cash and cash equivalents, end of period $ 18,411 $ 1,575 $ 1,295 $ - $ 21,281 Supplemental Condensed Consolidating Statement of Cash Flows For the six months ended December 31, 2017 (in millions) 21st Century Fox America, Inc. Twenty-First Century Fox Non-Guarantor Reclassifications and Eliminations Twenty-First Century Fox and Subsidiaries OPERATING ACTIVITIES Net cash provided by (used in) operating activities from continuing operations $ 177 $ (455 ) $ 782 $ - $ 504 INVESTING ACTIVITIES Property, plant and equipment (90 ) - (148 ) - (238 ) Proceeds from dispositions, net - - 362 - 362 Other investing activities, net (59 ) - (234 ) - (293 ) Net cash used in investing activities from continuing operations (149 ) - (20 ) - (169 ) FINANCING ACTIVITIES Borrowings - - 1,282 - 1,282 Repayment of borrowings - - (1,411 ) - (1,411 ) Dividends paid and distributions - (333 ) (179 ) - (512 ) Employee taxes paid for share-based payment arrangements (11 ) - (21 ) - (32 ) Other financing activities, net (18 ) - - - (18 ) Net cash used in financing activities from continuing operations (29 ) (333 ) (329 ) - (691 ) Discontinued operations Net decrease in cash and cash equivalents from discontinued operations (26 ) - - - (26 ) Net (decrease) increase in cash and cash equivalents (27 ) (788 ) 433 - (382 ) Cash and cash equivalents, beginning of year 40 4,882 1,241 - 6,163 Exchange movement on cash balances - - 28 - 28 Cash and cash equivalents, end of period $ 13 $ 4,094 $ 1,702 $ - $ 5,809

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details) $ in Millions	3 Months Ended	6 Months Ended
Basis of Presentation (Narrative) (Details) $ in Millions	Dec. 31, 2018USD ($)	Dec. 31, 2018USD ($)Segment	Jul. 01, 2018USD ($)
Disclosure Basis Of Presentation Details [Line Items]
Number of Reportable Segments \| Segment		4
Tax Cuts and Jobs Act, maximum measurement period to finalize recording of related tax impacts from enactment date		1 year
Fiscal 2,019
Disclosure Basis Of Presentation Details [Line Items]
U.S. statutory federal rate		21.00%
ASU 2016-16
Disclosure Basis Of Presentation Details [Line Items]
Deferred tax asset related to basis difference in an equity method investment			$ 2,300
Non-cash tax benefit, recognized	$ 1,800	$ 2,000
Non-cash tax benefit, remaining amount	$ 300	$ 300

Basis of Presentation - Schedul

Basis of Presentation - Schedule of Impact of Adoption of Standard on Consolidated Statement of Operations (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		6 Months Ended
		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Revenues		$ 8,499	$ 8,037	$ 15,676	$ 15,039
Operating expenses		(6,005)	(5,760)	(10,429)	(10,141)
Selling, general and administrative		(939)	(864)	(1,829)	(1,712)
Depreciation and amortization		(159)	(142)	(317)	(284)
Impairment and restructuring charges		0	(3)	(16)	(24)
Equity losses of affiliates		(109)	(33)	(74)	27
Interest expense, net		(294)	(312)	(594)	(625)
Interest income		86	9	94	19
Other, net		10,475	(229)	10,527	(301)
Income from continuing operations before income tax (expense) benefit		11,554	703	13,038	1,998
Income tax (expense) benefit		(630)	1,218	(756)	827
Income from continuing operations		10,924	1,921	12,282	2,825
(Loss) income from discontinued operations, net of tax		(17)	(5)	(24)	11
Net income		10,907	1,916	12,258	2,836
Less: Net income attributable to noncontrolling interests	[1]	(92)	(85)	(158)	(150)
Net income attributable to Twenty-First Century Fox, Inc. stockholders		$ 10,815	$ 1,831	$ 12,100	$ 2,686
Net income (loss) attributable to Twenty-First Century Fox stockholders per share - basic		$ 5.83	$ 0.99	$ 6.52	$ 1.45
Net income (loss) attributable to Twenty-First Century Fox stockholders per share - diluted		$ 5.80	$ 0.99	$ 6.49	$ 1.45
ASU 2014-09 \| Adjustments
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Revenues		$ (28)		$ 50
Operating expenses		10		(43)
Selling, general and administrative		0		0
Depreciation and amortization		0		0
Impairment and restructuring charges		0		0
Equity losses of affiliates		0		(3)
Interest expense, net		0		0
Interest income		0		0
Other, net		0		0
Income from continuing operations before income tax (expense) benefit		(18)		4
Income tax (expense) benefit		4		(1)
Income from continuing operations		(14)		3
(Loss) income from discontinued operations, net of tax		0		0
Net income		(14)		3
Less: Net income attributable to noncontrolling interests		0		0
Net income attributable to Twenty-First Century Fox, Inc. stockholders		$ (14)		$ 3
Net income (loss) attributable to Twenty-First Century Fox stockholders per share - basic		$ (0.01)		$ 0
Net income (loss) attributable to Twenty-First Century Fox stockholders per share - diluted		$ (0.01)		$ 0
ASU 2014-09 \| Without Adoption of ASC 606
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Revenues		$ 8,471		$ 15,726
Operating expenses		(5,995)		(10,472)
Selling, general and administrative		(939)		(1,829)
Depreciation and amortization		(159)		(317)
Impairment and restructuring charges		0		(16)
Equity losses of affiliates		(109)		(77)
Interest expense, net		(294)		(594)
Interest income		86		94
Other, net		10,475		10,527
Income from continuing operations before income tax (expense) benefit		11,536		13,042
Income tax (expense) benefit		(626)		(757)
Income from continuing operations		10,910		12,285
(Loss) income from discontinued operations, net of tax		(17)		(24)
Net income		10,893		12,261
Less: Net income attributable to noncontrolling interests		(92)		(158)
Net income attributable to Twenty-First Century Fox, Inc. stockholders		$ 10,801		$ 12,103
Net income (loss) attributable to Twenty-First Century Fox stockholders per share - basic		$ 5.82		$ 6.52
Net income (loss) attributable to Twenty-First Century Fox stockholders per share - diluted		$ 5.79		$ 6.49

[1]	Net income attributable to noncontrolling interests includes $36 million and $48 million for the three months ended December 31, 2018 and 2017, respectively, and $60 million and $77 million for the six months ended December 31, 2018 and 2017, respectively, relating to redeemable noncontrolling interests.

Basis of Presentation - Sched_2

Basis of Presentation - Schedule of Changes to the Opening Consolidated Balance Sheet from the Adoption of New Guidance (Details) - USD ($) $ in Millions		Dec. 31, 2018	Jul. 01, 2018	Jun. 30, 2018
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Current assets		$ 34,017		$ 19,333
Total assets		65,886		53,831
Current liabilities		$ 7,935		8,244
Total liabilities				$ 32,269
ASU 2014-09
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Current assets			$ 19,824
Total assets			54,390
Current liabilities			8,500
Total liabilities			32,592
ASU 2014-09 \| Adoption of ASC 606 Impact
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Current assets			491
Total assets	[1]		559
Current liabilities			256
Total liabilities			$ 323

[1]	Includes the Company’s proportionate share of Sky, plc’s (“Sky”) transition adjustment of approximately $145 million.

Basis of Presentation - Sched_3

Basis of Presentation - Schedule of Changes to the Opening Consolidated Balance Sheet from the Adoption of New Guidance (Parenthetical) (Details) - USD ($) $ in Millions		Dec. 31, 2018	Jul. 01, 2018	Jun. 30, 2018
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Total assets		$ 65,886		$ 53,831
ASU 2014-09
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Total assets			$ 54,390
ASU 2014-09 \| Adjustments
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Total assets	[1]		559
Sky \| ASU 2014-09 \| Adjustments
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Total assets			$ 145

[1]	Includes the Company’s proportionate share of Sky, plc’s (“Sky”) transition adjustment of approximately $145 million.

Acquisitions, Disposals and O_2

Acquisitions, Disposals and Other Transactions (Disney Transaction/Distribution of FOX) (Narrative) (Details) $ / shares in Units, shares in Millions	Jun. 20, 2018USD ($)$ / shares	Jan. 31, 2019USD ($)	Feb. 28, 2018USD ($)shares	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Merger Distribution [Line Items]
Equity-based compensation				$ 107,000,000	$ 39,000,000	$ 157,000,000	$ 66,000,000
Retention Plan
Merger Distribution [Line Items]
Cash bonus for certain employees			$ 110,000,000
Percentage of cash bonus payable at the time of the Mergers			50.00%
Percentage of cash bonus payable on the tenth month anniversary of the Mergers			50.00%
Bridge Commitment Letter \| 21st Century Fox America, Inc.
Merger Distribution [Line Items]
Line of credit facility, maximum borrowing capacity	$ 9,000,000,000
Line of credit facility, commitment fee percentage on undrawn funds	0.10%
Bridge Commitment Letter \| 21st Century Fox America, Inc. \| Subsequent Event
Merger Distribution [Line Items]
Line of credit facility, maximum borrowing capacity		$ 1,700,000,000
Merger Agreement
Merger Distribution [Line Items]
Merger Agreement, fixed portion of consideration, amount each share of common stock will be exchanged for payable in cash or common stock of the acquirer \| $ / shares	$ 19
Merger Agreement, percentage of the value of a number of the acquirer's shares equal to the exchange ratio	50.00%
Merger Agreement, aggregate cash consideration	$ 35,700,000,000
Merger Agreement, amount payable by acquirer under certain circumstances	$ 2,500,000,000
Equity-based compensation				40,000,000		40,000,000
Merger Agreement \| Selling, General and Administrative Expenses
Merger Distribution [Line Items]
Equity-based compensation				$ 15,000,000		$ 15,000,000
Merger Agreement \| Retention RSUs
Merger Distribution [Line Items]
Granted \| shares			5.9
Merger Agreement \| Retention RSUs \| Share-based Compensation Award Tranche One
Merger Distribution [Line Items]
Retention grants vesting percentage			50.00%
Merger Agreement \| Retention RSUs \| Share-based Compensation Award Tranche Two
Merger Distribution [Line Items]
Retention grants vesting percentage			50.00%
Vesting period			15 months
Merger Agreement \| Average Disney Price Greater Than $114.32 \| Minimum
Merger Distribution [Line Items]
Merger Agreement, average share price of the acquirer \| $ / shares	$ 114.32
Merger Agreement, exchange ratio	0.3324
Merger Agreement \| Average Disney Price Less Than $93.53 \| Maximum
Merger Distribution [Line Items]
Merger Agreement, average share price of the acquirer \| $ / shares	$ 93.53
Merger Agreement, exchange ratio	0.4063
Merger Agreement \| Average Disney Price Greater Than or Equal to $93.53 but Less Than or Equal to $114.32
Merger Distribution [Line Items]
Merger Agreement, share price to determine the exchange ratio \| $ / shares	$ 38
Fox \| Senior Notes \| Subsequent Event
Merger Distribution [Line Items]
Face amount of debt instrument		6,800,000,000
Net proceeds from issuance of senior notes		$ 6,800,000,000
Fox \| Merger Agreement \| Pending Transaction Not Yet Completed
Merger Distribution [Line Items]
Merger Agreement, dividend amount	$ 8,500,000,000

Acquisitions, Disposals and O_3

Acquisitions, Disposals and Other Transactions (Disposals) (Narrative) (Details) - Television Broadcast Station Spectrum $ in Millions	1 Months Ended		12 Months Ended	18 Months Ended
	Jul. 31, 2017USD ($)	Mar. 31, 2017TelevisionStation	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Disposals
Proceeds received from the FCC's completed reverse auction for broadcast spectrum	$ 350
Number of television stations with bids to relinquish spectrum accepted by the FCC as part of the auction \| TelevisionStation		3
Pre-tax gain on disposals			$ 102	$ 114

Inventories, Net (Schedule of I

Inventories, Net (Schedule of Inventories, Net) (Details) - USD ($) $ in Millions		Dec. 31, 2018	Jun. 30, 2018
Programming rights
Sports Programming rights		$ 3,920	$ 3,676
Entertainment Programming rights	[1]	3,311	3,263
Films
Released, less accumulated amortization		1,109	1,249
Completed, not released		195	98
In production		1,900	1,556
In development or preproduction		245	221
Films, Total		3,449	3,124
Television productions
Released, less accumulated amortization		645	743
In production, development or preproduction		742	381
Television productions, Total		1,387	1,124
Total filmed entertainment costs, less accumulated amortization	[2]	4,836	4,248
Total inventories, net		12,067	11,187
Less: current portion of inventories, net	[3]	(3,934)	(3,669)
Total non-current inventories, net		$ 8,133	$ 7,518

[1]	Includes DVDs, Blu-rays and other merchandise.
[2]	Does not include $195 million and $210 million of net intangible film library costs as of December 31, 2018 and June 30, 2018, respectively, which were included in intangible assets subject to amortization in the Consolidated Balance Sheets.
[3]	Current portion of inventories, net as of December 31, 2018 and June 30, 2018 was comprised of programming rights ($3,886 million and $3,625 million, respectively), DVDs, Blu-rays and other merchandise.

Inventories, Net (Schedule of_2

Inventories, Net (Schedule of Inventories, Net) (Parenthetical) (Details) - USD ($) $ in Millions		Dec. 31, 2018	Jun. 30, 2018
Inventory [Line Items]
Current portion of inventories, net	[1]	$ 3,934	$ 3,669
Acquired Film Libraries
Inventory [Line Items]
Intangible assets subject to amortization, net		195	210
Programming Rights
Inventory [Line Items]
Current portion of inventories, net		$ 3,886	$ 3,625

[1]	Current portion of inventories, net as of December 31, 2018 and June 30, 2018 was comprised of programming rights ($3,886 million and $3,625 million, respectively), DVDs, Blu-rays and other merchandise.

Investments (Schedule of Invest

Investments (Schedule of Investments) (Details) - USD ($) $ in Millions		Dec. 31, 2018		Oct. 31, 2018	Oct. 03, 2018	Jun. 30, 2018	Dec. 31, 2016
Investment Holdings [Line Items]
Other investments	[1]	$ 665				$ 618
Total investments		$ 833				4,112
Sky
Investment Holdings [Line Items]
Ownership percentage		0.00%	[2]	39.00%	39.00%		39.00%
Equity method investments	[2]	$ 0				3,306
Endemol Shine Group
Investment Holdings [Line Items]
Ownership percentage	[3]	50.00%
Equity method investments	[3]	$ 168				$ 188

[1]	Includes an investment with a readily determinable fair value of $185 million as of December 31, 2018 (See Note 5 – Fair Value).
[2]	In October 2018, the Company sold its 39% investment in Sky.
[3]	Equity method investment.

Investments (Schedule of Inve_2

Investments (Schedule of Investments) (Parenthetical) (Details) - USD ($) $ in Millions		Dec. 31, 2018		Oct. 31, 2018	Oct. 03, 2018	Jun. 30, 2018	Dec. 31, 2016
Sky
Investment Holdings [Line Items]
Ownership percentage		0.00%	[1]	39.00%	39.00%		39.00%
Fair value measurements recurring
Investment Holdings [Line Items]
Investment with a readily determinable fair value	[2]	$ 185				$ 257

[1]	In October 2018, the Company sold its 39% investment in Sky.
[2]	Represents an investment in equity securities with a readily determinable fair value.

Investments (Narratives) (Detai

Investments (Narratives) (Details) £ / shares in Units, £ in Billions

1 Months Ended

3 Months Ended

6 Months Ended

Oct. 31, 2018USD ($)

Oct. 31, 2018GBP (£)

Aug. 31, 2016USD ($)

Dec. 31, 2018USD ($)

Sep. 30, 2018USD ($)

Dec. 31, 2017USD ($)

Dec. 31, 2018USD ($)

Dec. 31, 2017USD ($)

Oct. 03, 2018£ / shares

Sep. 26, 2018£ / shares

Sep. 22, 2018£ / shares

Jul. 11, 2018£ / shares

Dec. 31, 2016£ / shares

Jul. 31, 2016

Sky

Investment Holdings [Line Items]

Ownership percentage

39.00%

0.00%

[1]

0.00%

[1]

39.00%

Share price for acquisition or disposition | £ / shares

£ 17.28

Cash consideration received

$ 15,100,000,000

£ 11.6

Gain on sale of investment net of transaction costs

[2]

$ 10,870,000,000

$ (85,000,000)

$ 10,824,000,000

$ (139,000,000)

Sky | Pending Transaction Subsequently Lapsed

Investment Holdings [Line Items]

Share price for acquisition or disposition | £ / shares

£ 15.67

£ 14

£ 10.75

Hulu

Investment Holdings [Line Items]

Ownership percentage

30.00%

33.00%

Equity Method Investment, percentage of equity interest issued

10.00%

Equity method investment, put/call period

36 months

Investments in equity affiliates

225,000,000

Additional investment in equity affiliate to be made in the current calendar year

$ 645,000,000

Hulu | 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

Caffeine and Caffeine Studios

Investment Holdings [Line Items]

Payments to acquire investments

$ 100,000,000

[1]

In October 2018, the Company sold its 39% investment in Sky.

[2]

Primarily represents the gain on the sale of investment in Sky for the three and six months ended December 31, 2018 and the change in fair value of a foreign currency option contract to limit the foreign currency exchange rate risk in connection with the Sky Acquisition for the three and six months ended December 31, 2017 (See Note 4 – Investments under the heading “Sky” for further discussion).

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		Dec. 31, 2018	Jun. 30, 2018
Liabilities
Redeemable noncontrolling interests		$ (576)	$ (764)
Fair value measurements recurring
Assets
Investments	[1]	185	257
Derivatives	[2]	7	14
Other	[3]	65	73
Liabilities
Derivatives	[2]	(10)
Redeemable noncontrolling interests		(576)	(764)
Total		(329)	(420)
Fair value measurements recurring \| (Level 1)
Assets
Investments	[1]	185	257
Derivatives	[2]	0	0
Other	[3]	0	0
Liabilities
Derivatives	[2]	0
Redeemable noncontrolling interests		0	0
Total		185	257
Fair value measurements recurring \| (Level 2)
Assets
Investments	[1]	0	0
Derivatives	[2]	7	14
Other	[3]	0	0
Liabilities
Derivatives	[2]	(10)
Redeemable noncontrolling interests		0	0
Total		(3)	14
Fair value measurements recurring \| (Level 3)
Assets
Investments	[1]	0	0
Derivatives	[2]	0	0
Other	[3]	65	73
Liabilities
Derivatives	[2]	0
Redeemable noncontrolling interests		(576)	(764)
Total		$ (511)	$ (691)

[1]	Represents an investment in equity securities with a readily determinable fair value.
[2]	Represents derivatives associated with the Company’s foreign currency and interest rate swap contracts.
[3]	Primarily relates to past acquisitions, including contingent consideration agreements.

Fair Value (Narrative) (Details

Fair Value (Narrative) (Details)	6 Months Ended
Fair Value (Narrative) (Details)	Dec. 31, 2018
Fair Value Disclosures [Abstract]
Minority shareholder's put right exercisable period	Two minority shareholders’ put rights will become exercisable in March 2019 and one minority shareholders’ put right will become exercisable in July 2019. 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 contracts	1 year
Interest Rate Cash Flow Hedges [Abstract]
Number of years to reclassify the cumulative change in fair value of cash flow hedges, interest rate swap contracts	1 year

Fair Value (Liabilities Measure

Fair Value (Liabilities Measured on Recurring Basis) (Details) - Redeemable Noncontrolling Interests - (Level 3) - USD ($) $ in Millions	6 Months Ended
	Dec. 31, 2018		Dec. 31, 2017
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning of period	$ (764)		$ (694)
Net income	(60)		(77)
Distributions and other	248	[1]	59
End of period	$ (576)		$ (712)

[1]	As a result of the expiration of a put arrangement, approximately $200 million was reclassified into Retained earnings.

Fair Value (Liabilities Measu_2

Fair Value (Liabilities Measured on Recurring Basis) (Parenthetical) (Details) $ in Millions	6 Months Ended
	Dec. 31, 2018USD ($)
Redeemable Noncontrolling Interests
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Amounts reclassified into retained earnings as a result of the expiration of a put arrangement	$ 200

Fair Value (Borrowings) (Detail

Fair Value (Borrowings) (Details) - USD ($) $ in Millions	Dec. 31, 2018	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair value	$ 22,809	$ 22,591
Carrying value	$ 19,208	$ 19,523

Fair Value (Schedule of Finan_2

Fair Value (Schedule of Financial Instruments Used to Hedge Certain Exposures to Foreign Currency Exchange Rate Risks) (Details) - USD ($) $ in Millions	Dec. 31, 2018	Jun. 30, 2018
Foreign Currency Forward Contracts \| Cash Flow Hedges \| Designated as Hedging Instrument
Derivatives Fair Value [Line Items]
Notional amount	$ 286	$ 119
Fair value	(9)	(2)
Foreign Currency Contracts \| Economic Hedges
Derivatives Fair Value [Line Items]
Notional amount	16	12,788	[1]
Fair value	$ 0	$ 8	[1]

[1]	As of June 30, 2018, the notional amount and fair value primarily relates to a foreign currency option contract to limit the foreign currency exchange rate risk in connection with the Sky Acquisition which had a premium payable of approximately $50 million. In September 2018, the Company paid the premium to settle this foreign currency option contract which was included in Proceeds from dispositions, net in the Unaudited Consolidated Statement of Cash Flows.

Fair Value (Schedule of Finan_3

Fair Value (Schedule of Financial Instruments Used to Hedge Certain Exposures to Foreign Currency Exchange Rate Risks) (Parenthetical) (Details) $ in Millions	Jun. 30, 2018USD ($)
Foreign Currency Option Contract \| Economic Hedges \| Sky
Derivatives Fair Value [Line Items]
Foreign currency option premium payable	$ 50

Fair Value (Schedule of Finan_4

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	Dec. 31, 2018	Jun. 30, 2018
Derivatives Fair Value [Line Items]
Notional amount	$ 580	$ 608
Fair value	$ 6	$ 8

Borrowings (Narrative) (Details

Borrowings (Narrative) (Details) ₨ in Billions	1 Months Ended		6 Months Ended
Borrowings (Narrative) (Details) ₨ in Billions	Jan. 31, 2019USD ($)	Aug. 31, 2018USD ($)	Dec. 31, 2018USD ($)	Jan. 01, 2019USD ($)	Jan. 01, 2019INR (₨)	Dec. 31, 2018INR (₨)
Senior Notes \| 8.25% Due 2018
Debt Instrument [Line Items]
Senior notes retired		$ 250,000,000
Stated interest rate of debt instrument		8.25%
Senior Notes \| 6.90% Due 2019
Debt Instrument [Line Items]
Stated interest rate of debt instrument			6.90%			6.90%
Senior notes, current			$ 700,000,000
Senior notes, maturity date			Mar. 31, 2019
STAR India \| Unsecured Term Loan Facility
Debt Instrument [Line Items]
Term loan, current			$ 72,000,000
STAR India \| Unsecured Credit Facilities
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			200,000,000			₨ 14
Line of credit facility, outstanding amount			$ 84,000,000
Number of days notice for due on demand			60 days
Credit facilities, current			$ 84,000,000
STAR India \| Unsecured Credit Facilities \| Subsequent Event [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 395,000,000	₨ 28
Yankees Entertainment and Sports Network \| Term Loan
Debt Instrument [Line Items]
Term loan, current			$ 31,000,000
Fox \| Senior Notes \| Subsequent Event [Member]
Debt Instrument [Line Items]
Face amount of debt instrument	$ 6,800,000,000
Net proceeds from issuance of senior notes	$ 6,800,000,000
Fox \| Senior Notes \| 3.666% Due 2022 \| Subsequent Event [Member]
Debt Instrument [Line Items]
Stated interest rate of debt instrument	3.666%
Face amount of debt instrument	$ 750,000,000
Senior notes, maturity year	2,022
Fox \| Senior Notes \| 4.030% Due 2024 \| Subsequent Event [Member]
Debt Instrument [Line Items]
Stated interest rate of debt instrument	4.03%
Face amount of debt instrument	$ 1,250,000,000
Senior notes, maturity year	2,024
Fox \| Senior Notes \| 4.709% Due 2029 \| Subsequent Event [Member]
Debt Instrument [Line Items]
Stated interest rate of debt instrument	4.709%
Face amount of debt instrument	$ 2,000,000,000
Senior notes, maturity year	2,029
Fox \| Senior Notes \| 5.476% Due 2039 \| Subsequent Event [Member]
Debt Instrument [Line Items]
Stated interest rate of debt instrument	5.476%
Face amount of debt instrument	$ 1,250,000,000
Senior notes, maturity year	2,039
Fox \| Senior Notes \| 5.576% Due 2049 \| Subsequent Event [Member]
Debt Instrument [Line Items]
Stated interest rate of debt instrument	5.576%
Face amount of debt instrument	$ 1,550,000,000
Senior notes, maturity year	2,049

Stockholders' Equity (Schedule

Stockholders' Equity (Schedule of Changes in Stockholders' Equity) (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Increase (Decrease) in Stockholders' Equity
Balance, beginning of period		$ 21,924	$ 17,556	$ 20,798	$ 16,938
Adoption of ASUs		244		244
Adjusted balance, beginning of period		21,924		21,042
Net income		10,871	1,868	12,198	2,759
Other comprehensive income (loss)		470	231	310	382
Issuance of shares		71	0	204	41
Dividends declared		0	0	(334)	(333)
Other		(101)	(24)	(185)	(156)
Balance, end of period		33,235	19,631	33,235	19,631
Twenty-First Century Fox stockholders
Increase (Decrease) in Stockholders' Equity
Balance, beginning of period		20,698	16,304	19,564	15,722
Adoption of ASUs	[1]	244		244
Adjusted balance, beginning of period		20,698		19,808
Net income		10,815	1,831	12,100	2,686
Other comprehensive income (loss)		475	227	319	369
Issuance of shares		71	0	204	41
Dividends declared		0	0	(334)	(333)
Other		(54)	27	(92)	(96)
Balance, end of period		32,005	18,389	32,005	18,389
Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity
Balance, beginning of period		1,226	1,252	1,234	1,216
Adoption of ASUs		0		0
Adjusted balance, beginning of period		1,226		1,234
Net income	[2]	56	37	98	73
Other comprehensive income (loss)		(5)	4	(9)	13
Issuance of shares		0	0	0	0
Dividends declared		0	0	0	0
Other	[3]	(47)	(51)	(93)	(60)
Balance, end of period		$ 1,230	$ 1,242	$ 1,230	$ 1,242

[1]	Primarily represents the adoption of ASU 2014-09 (See Note 1 – Basis of Presentation under the heading “Recently Adopted and Recently Issued Accounting Guidance and U.S. Tax Reform” for additional information). Approximately $145 million of the transition adjustment relates to the Company’s proportionate share of Sky’s transition adjustment.
[2]	Net income attributable to noncontrolling interests excludes $36 million and $48 million for the three months ended December 31, 2018 and 2017, respectively, and $60 million and $77 million for the six months ended December 31, 2018 and 2017, respectively, relating to redeemable noncontrolling interests which are reflected in temporary equity.
[3]	Other activity attributable to noncontrolling interests excludes $(11) million and $(35) million for the three months ended December 31, 2018 and 2017, respectively, and $(248) million and $(59) million for the six months ended December 31, 2018 and 2017, respectively, relating to redeemable noncontrolling interests (See Note 5 – Fair Value).

Stockholders' Equity (Schedul_2

Stockholders' Equity (Schedule of Changes in Stockholders' Equity) (Parenthetical) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income Loss [Line Items]
Adoption of ASUs	$ 244		$ 244
Temporary Equity Disclosure
Net income attributable to redeemable noncontrolling interests	36	$ 48	60	$ 77
Other activity attributable to redeemable noncontrolling interests	(11)	$ (35)	(248)	$ (59)
Sky
Accumulated Other Comprehensive Income Loss [Line Items]
Adoption of ASUs	$ 145		$ 145

Stockholders' Equity (Other Com

Stockholders' Equity (Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income Loss [Line Items]
Other comprehensive income, net of tax		$ 470	$ 231	$ 310	$ 382
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income Loss [Line Items]
Unrealized gains (losses), before tax		11	38	(121)	79
Reclassifications realized in net income, before tax	[1]	6		6
Other comprehensive income (loss), before tax	[2]	17	38	(115)	79
Unrealized gains (losses), tax		(1)	0	(1)	0
Reclassifications realized in net income, tax	[1]	(2)		(2)
Other comprehensive income (loss), tax	[2]	(3)	0	(3)	0
Unrealized gains (losses), net of tax		10	38	(122)	79
Reclassifications realized in net income, net of tax	[1]	4		4
Other comprehensive income, net of tax	[2]	14	38	(118)	79
Cash Flow Hedges
Accumulated Other Comprehensive Income Loss [Line Items]
Unrealized gains (losses), before tax		(9)	1	(9)	9
Reclassifications realized in net income, before tax	[3]	1	(3)	1	(11)
Other comprehensive income (loss), before tax		(8)	(2)	(8)	(2)
Unrealized gains (losses), tax		2	0	2	(3)
Reclassifications realized in net income, tax	[3]	0	1	0	4
Other comprehensive income (loss), tax		2	1	2	1
Unrealized gains (losses), net of tax		(7)	1	(7)	6
Reclassifications realized in net income, net of tax	[3]	1	(2)	1	(7)
Other comprehensive income, net of tax		(6)	(1)	(6)	(1)
Gains on Securities
Accumulated Other Comprehensive Income Loss [Line Items]
Unrealized gains (losses), before tax			154		283
Other comprehensive income (loss), before tax			154		283
Unrealized gains (losses), tax			(57)		(104)
Other comprehensive income (loss), tax			(57)		(104)
Unrealized gains (losses), net of tax			97		179
Other comprehensive income, net of tax			97		179
Benefit Plan Adjustments
Accumulated Other Comprehensive Income Loss [Line Items]
Unrealized gains (losses), before tax		13		13
Reclassifications realized in net income, before tax	[4]	7	96	15	106
Other comprehensive income (loss), before tax		20	96	28	106
Unrealized gains (losses), tax		(3)		(3)
Reclassifications realized in net income, tax	[4]	(1)	(35)	(3)	(39)
Other comprehensive income (loss), tax		(4)	(35)	(6)	(39)
Unrealized gains (losses), net of tax		10		10
Reclassifications realized in net income, net of tax	[4]	6	61	12	67
Other comprehensive income, net of tax		16	61	22	67
Equity Method Investments
Accumulated Other Comprehensive Income Loss [Line Items]
Unrealized (losses) gains and reclassifications, before tax		(5)	50	(47)	84
Reclassifications realized in net income, before tax	[1]	627		627
Other comprehensive income (loss), before tax		622	50	580	84
Unrealized (losses) gains and reclassifications, tax		0	(14)	8	(26)
Reclassifications realized in net income, tax	[1]	(176)		(176)
Other comprehensive income (loss), tax		(176)	(14)	(168)	(26)
Unrealized (losses) gains and reclassifications, net of tax		(5)	36	(39)	58
Reclassifications realized in net income, net of tax	[1]	451		451
Other comprehensive income, net of tax		$ 446	$ 36	$ 412	$ 58

[1]	Reclassifications of amounts related to dispositions are included in Other, net in the Unaudited Consolidated Statements of Operations.
[2]	Foreign currency translation adjustments include $(5) million and $4 million for the three months ended December 31, 2018 and 2017, respectively, and $(9) million and $13 million for the six months ended December 31, 2018 and 2017, respectively, relating to noncontrolling interests.
[3]	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 (See Note 5 – Fair Value for additional information regarding hedging activity).
[4]	Reclassifications of amounts related to benefit plan adjustments are included in Other, net in the Unaudited Consolidated Statements of Operations.

Stockholders' Equity (Other C_2

Stockholders' Equity (Other Comprehensive Income) (Parenthetical) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease [Abstract]
Foreign currency translation adjustments relating to noncontrolling interests	$ (5)	$ 4	$ (9)	$ 13

Stockholders' Equity (Summary o

Stockholders' Equity (Summary of Changes in Components of Accumulated Other Comprehensive Loss, Net of Tax ) (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income Loss [Line Items]
Balance, beginning of period		$ 21,924	$ 17,556	$ 20,798	$ 16,938
Other comprehensive (loss) income, net of tax		470	231	310	382
Balance, end of period		33,235	19,631	33,235	19,631
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income Loss [Line Items]
Balance, beginning of period				(1,317)
Adoption of ASUs				0
Other comprehensive (loss) income, net of tax				(109)
Balance, end of period		(1,426)		(1,426)
Cash Flow Hedges
Accumulated Other Comprehensive Income Loss [Line Items]
Balance, beginning of period				4
Adoption of ASUs	[1]			1
Other comprehensive (loss) income, net of tax				(6)
Balance, end of period		(1)		(1)
Unrealized Holding Gains On Securities
Accumulated Other Comprehensive Income Loss [Line Items]
Balance, beginning of period				132
Adoption of ASUs	[2]			(132)
Other comprehensive (loss) income, net of tax				0
Balance, end of period		0		0
Benefit Plan Adjustments
Accumulated Other Comprehensive Income Loss [Line Items]
Balance, beginning of period				(307)
Adoption of ASUs	[1]			(66)
Other comprehensive (loss) income, net of tax				22
Balance, end of period		(351)		(351)
Equity Method Investments
Accumulated Other Comprehensive Income Loss [Line Items]
Balance, beginning of period				(513)
Adoption of ASUs				0
Other comprehensive (loss) income, net of tax		446	$ 36	412	$ 58
Balance, end of period		(101)		(101)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income Loss [Line Items]
Balance, beginning of period				(2,001)
Adoption of ASUs				(197)
Other comprehensive (loss) income, net of tax				319
Balance, end of period		$ (1,879)		$ (1,879)

[1]	Reflects the adoption of ASU 2018-02 (See Note 1 – Basis of Presentation under the heading “Recently Adopted and Recently Issued Accounting Guidance and U.S. Tax Reform” for additional information).
[2]	Reflects the adoption of ASU 2016-01 (See Note 1 – Basis of Presentation under the heading “Recently Adopted and Recently Issued Accounting Guidance and U.S. Tax Reform” for additional information).

Stockholders' Equity (Earnings

Stockholders' Equity (Earnings Per Share Data) (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share Data
Income from continuing operations		$ 10,924	$ 1,921	$ 12,282	$ 2,825
Less: Net income attributable to noncontrolling interests	[1]	(92)	(85)	(158)	(150)
Income from continuing operations attributable to Twenty-First Century Fox stockholders		$ 10,832	$ 1,836	$ 12,124	$ 2,675

[1]	Net income attributable to noncontrolling interests includes $36 million and $48 million for the three months ended December 31, 2018 and 2017, respectively, and $60 million and $77 million for the six months ended December 31, 2018 and 2017, respectively, relating to redeemable noncontrolling interests.

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($)	1 Months Ended	6 Months Ended
Stockholders' Equity (Narrative) (Details) - USD ($)	Feb. 06, 2019	Dec. 31, 2018	Dec. 31, 2017	Aug. 31, 2016	Aug. 31, 2015
Class A Common Stock
Stock Repurchase Program [Abstract]
Stock repurchase program, authorized amount				$ 3,000,000,000	$ 5,000,000,000
Stock repurchase program, remaining authorized amount		$ 3,100,000,000
Total number of shares repurchased		0
Cash dividend declared per share		$ 0.18	$ 0.18
Class A Common Stock \| Subsequent Event [Member]
Stock Repurchase Program [Abstract]
Cash dividend declared per share	$ 0.18
Cash dividend payable date	Apr. 16, 2019
Cash dividend record date	Apr. 8, 2019
Class A Common Stock \| Fiscal 2017 Authorization
Stock Repurchase Program [Abstract]
Stock repurchase program, remaining authorized amount		$ 3,000,000,000
Class A Common Stock \| Fiscal 2016 Authorization
Stock Repurchase Program [Abstract]
Stock repurchase program, remaining authorized amount		$ 110,000,000
Class B Common Stock
Stock Repurchase Program [Abstract]
Total number of shares repurchased		0
Cash dividend declared per share		$ 0.18	$ 0.18
Class B Common Stock \| Subsequent Event [Member]
Stock Repurchase Program [Abstract]
Cash dividend declared per share	$ 0.18
Cash dividend payable date	Apr. 16, 2019
Cash dividend record date	Apr. 8, 2019

Stockholders' Equity (Schedul_3

Stockholders' Equity (Schedule of Dividends Declared) (Details) - $ / shares	6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Class B Common Stock
Class Of Stock [Line Items]
Cash dividend per share	$ 0.18	$ 0.18
Class A Common Stock
Class Of Stock [Line Items]
Cash dividend per share	$ 0.18	$ 0.18

Equity-Based Compensation (Summ

Equity-Based Compensation (Summary of Equity-Based Compensation) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Equity-based compensation	$ 107	$ 39	$ 157	$ 66
Intrinsic value of all settled equity-based awards	$ 139	$ 0	$ 368	$ 74

Equity-Based Compensation (Narr

Equity-Based Compensation (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total estimated compensation cost related to equity-based awards, not yet recognized	$ 280
Performance Stock Units \| Class A Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted	0	6,600,000
Vested	6,500,000	2,600,000
Restricted Stock Units \| Class A Common Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted	2,900,000
Vested	1,400,000
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	6 Months Ended
	Dec. 31, 2018	Jun. 30, 2018
Loss Contingencies [Line Items]
Total firm commitments and future debt payments	$ 85,000	$ 84,000
News Corp \| Separation And Distribution Agreement
Loss Contingencies [Line Items]
Liability related to indemnity	45	$ 50
Hulu
Loss Contingencies [Line Items]
Contingent guarantees	113
Equity method investments term loan	$ 338
Debt, term	5 years
Debt, maturity date	Aug. 31, 2022

Segment Information (Narrative)

Segment Information (Narrative) (Details) $ in Millions	3 Months Ended		6 Months Ended
Segment Information (Narrative) (Details) $ in Millions	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2018USD ($)SegmentFullpowertvstationDuopoly	Dec. 31, 2017USD ($)
Segment Reporting Information [Line Items]
Number of Reportable Segments \| Segment			4
Revenues \| $	$ 8,499	$ 8,037	$ 15,676	$ 15,039
Segment OIBDA \| $	1,565	1,438	3,438	3,229
Amortization of Intangible Assets \| $	65	65	129	130
Filmed Entertainment Segment \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Revenues \| $	(360)	(418)	(605)	(613)
Segment OIBDA \| $	$ (50)	$ 20	$ (20)	$ 45
US \| Television Segment
Segment Reporting Information [Line Items]
Full power broadcast television stations \| Fullpowertvstation			28
Duopolies \| Duopoly			11
US \| Television Segment \| FOX Network
Segment Reporting Information [Line Items]
Full power broadcast television stations \| Fullpowertvstation			17
US \| Television Segment \| MyNetworkTV
Segment Reporting Information [Line Items]
Full power broadcast television stations \| Fullpowertvstation			9
US \| Television Segment \| CW Television Network and MyNetworkTV
Segment Reporting Information [Line Items]
Full power broadcast television stations \| Fullpowertvstation			1
US \| Television Segment \| Independent Station
Segment Reporting Information [Line Items]
Full power broadcast television stations \| Fullpowertvstation			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		6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information Profit Loss [Abstract]
Income from continuing operations before income tax (expense) benefit	$ 11,554	$ 703	$ 13,038	$ 1,998
Amortization of cable distribution investments	10	25	20	43
Depreciation and amortization	159	142	317	284
Impairment and restructuring charges	0	3	16	24
Equity losses (earnings) of affiliates	109	33	74	(27)
Interest expense, net	294	312	594	625
Interest income	(86)	(9)	(94)	(19)
Other, net	(10,475)	229	(10,527)	301
Total Segment OIBDA	$ 1,565	$ 1,438	$ 3,438	$ 3,229

Segment Information (Reconcil_2

Segment Information (Reconciliation of Revenues and Segment OIBDA from Segments to Consolidated) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Revenues	$ 8,499	$ 8,037	$ 15,676	$ 15,039
Total Segment OIBDA	1,565	1,438	3,438	3,229
Operating Segments \| Cable Network Programming Segment
Segment Reporting Information [Line Items]
Revenues	4,562	4,405	8,909	8,601
Total Segment OIBDA	1,454	1,365	2,991	2,876
Operating Segments \| Television Segment
Segment Reporting Information [Line Items]
Revenues	2,148	1,806	3,424	2,871
Total Segment OIBDA	(22)	56	146	178
Operating Segments \| Filmed Entertainment Segment
Segment Reporting Information [Line Items]
Revenues	2,159	2,246	3,975	4,209
Total Segment OIBDA	193	131	470	387
Other, Corporate and Eliminations Segment
Segment Reporting Information [Line Items]
Revenues	(370)	(420)	(632)	(642)
Total Segment OIBDA	$ (60)	$ (114)	$ (169)	$ (212)

Segment Information (Reconcil_3

Segment Information (Reconciliation of Depreciation and Amortization from Segments to Consolidated) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 159	$ 142	$ 317	$ 284
Operating Segments \| Cable Network Programming Segment
Segment Reporting Information [Line Items]
Depreciation and amortization	98	86	195	171
Operating Segments \| Television Segment
Segment Reporting Information [Line Items]
Depreciation and amortization	25	27	51	54
Operating Segments \| Filmed Entertainment Segment
Segment Reporting Information [Line Items]
Depreciation and amortization	25	23	50	46
Other, Corporate and Eliminations Segment
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 11	$ 6	$ 21	$ 13

Segment Information (Reconcil_4

Segment Information (Reconciliation of Assets from Segments to Consolidated) (Details) - USD ($) $ in Millions	Dec. 31, 2018	Jun. 30, 2018
Segment Reporting Information [Line Items]
Total assets	$ 65,886	$ 53,831
Investments	833	4,112
Operating Segments \| Cable Network Programming Segment
Segment Reporting Information [Line Items]
Total assets	25,515	25,756
Operating Segments \| Television Segment
Segment Reporting Information [Line Items]
Total assets	7,612	6,779
Operating Segments \| Filmed Entertainment Segment
Segment Reporting Information [Line Items]
Total assets	11,866	10,646
Other, Corporate and Eliminations Segment
Segment Reporting Information [Line Items]
Total assets	$ 20,060	$ 6,538

Segment Information (Reconcil_5

Segment Information (Reconciliation of Revenues by Components to Consolidated) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Revenues
Revenues	$ 8,499	$ 8,037	$ 15,676	$ 15,039
Affiliate Fee
Revenues
Revenues	3,482	3,252	6,977	6,488
Advertising
Revenues
Revenues	2,698	2,496	4,470	4,119
Content
Revenues
Revenues	2,118	2,140	3,889	4,159
Other
Revenues
Revenues	$ 201	$ 149	$ 340	$ 273

Revenues (Summary of Revenues b

Revenues (Summary of Revenues by Segment by Component) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Disaggregation Of Revenue [Line Items]
Revenues	$ 8,499	$ 8,037	$ 15,676	$ 15,039
Affiliate Fee
Disaggregation Of Revenue [Line Items]
Revenues	3,482	3,252	6,977	6,488
Advertising
Disaggregation Of Revenue [Line Items]
Revenues	2,698	2,496	4,470	4,119
Content
Disaggregation Of Revenue [Line Items]
Revenues	2,118	2,140	3,889	4,159
Operating Segments \| Cable Network Programming Segment
Disaggregation Of Revenue [Line Items]
Revenues	4,562	4,405	8,909	8,601
Operating Segments \| Cable Network Programming Segment \| Affiliate Fee
Disaggregation Of Revenue [Line Items]
Revenues	3,075	2,915	6,172	5,817
Operating Segments \| Cable Network Programming Segment \| Advertising, Content and Other
Disaggregation Of Revenue [Line Items]
Revenues	1,487	1,490	2,737	2,784
Operating Segments \| Television Segment
Disaggregation Of Revenue [Line Items]
Revenues	2,148	1,806	3,424	2,871
Operating Segments \| Television Segment \| Advertising
Disaggregation Of Revenue [Line Items]
Revenues	1,634	1,416	2,433	2,071
Operating Segments \| Television Segment \| Affiliate Fee, Content and Other
Disaggregation Of Revenue [Line Items]
Revenues	514	390	991	800
Operating Segments \| Filmed Entertainment Segment
Disaggregation Of Revenue [Line Items]
Revenues	2,159	2,246	3,975	4,209
Operating Segments \| Filmed Entertainment Segment \| Content
Disaggregation Of Revenue [Line Items]
Revenues	2,059	2,168	3,784	4,059
Operating Segments \| Filmed Entertainment Segment \| Advertising and Other
Disaggregation Of Revenue [Line Items]
Revenues	100	78	191	150
Other, Corporate and Eliminations Segment
Disaggregation Of Revenue [Line Items]
Revenues	$ (370)	$ (420)	$ (632)	$ (642)

Revenues (Narrative) (Details)

Revenues (Narrative) (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2019-01-01 $ in Billions	6 Months Ended
	Dec. 31, 2018USD ($)
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Amount	$ 7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Explanation	revenues are expected to be recognized primarily over the next three years

Revenues (Narrative) (Details 1

Revenues (Narrative) (Details 1)	6 Months Ended
Revenues (Narrative) (Details 1)	Dec. 31, 2018
Revenue From Contract With Customer [Abstract]
Revenue, Practical Expedient, Remaining Performance Obligation, Description	The amount disclosed does not include (i) revenues related to performance obligations that are part of a contract that have an original expected duration of one year or less, (ii) revenues related to performance obligations for which the Company recognizes revenues in the amount it has a right to invoice, (iii) revenues that are in the form of sales-based or usage-based royalties promised in exchange for licenses of intellectual property and (iv) revenues that have variable consideration which is allocated entirely to an unsatisfied performance obligation or an unsatisfied promise to transfer a distinct good or service that forms part of a single performance obligation.

Revenues (Schedule of Receivabl

Revenues (Schedule of Receivables, Net) (Details) - USD ($) $ in Millions	Dec. 31, 2018	Jul. 01, 2018	Jun. 30, 2018
Revenues [Abstract]
Total receivables	$ 9,118	$ 8,553
Allowances for doubtful accounts	(176)	(169)
Total receivables, net	8,942	8,384
Less: current receivables, net	(8,083)	(7,625)	$ (7,120)
Non-current receivables, net	$ 859	$ 759	$ 724

Revenues (Schedule of Deferred

Revenues (Schedule of Deferred Revenue Balances) (Details) - USD ($) $ in Millions	Dec. 31, 2018	Jul. 01, 2018	Jun. 30, 2018
Revenue From Contract With Customer [Abstract]
Current deferred revenue	$ 855	$ 791	$ 826
Noncurrent deferred revenue	$ 277	$ 291

Additional Financial Informat_3

Additional Financial Information (Other, Net) (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Other Non Operating Income Expense [Line Items]
Unrealized losses on investments	[1]	$ (255)	$ 0	$ (72)	$ 0
Settlement loss on pension liabilities	[2]	0	(86)	0	(86)
Other		(21)	(26)	(38)	(44)
Total other, net		10,475	(229)	10,527	(301)
Sky
Other Non Operating Income Expense [Line Items]
Gain on sale of investment and other transaction costs	[3]	10,870	(85)	10,824	(139)
Disney
Other Non Operating Income Expense [Line Items]
Transaction costs	[4]	$ (119)	$ (32)	$ (187)	$ (32)

[1]	Represents the unrealized losses on investments (See Note 1 – Basis of Presentation under the heading “Recently Adopted and Recently Issued Accounting Guidance and U.S. Tax Reform”).
[2]	During the three and six months ended December 31, 2017, the Company settled a portion of its pension obligations by irrevocably transferring pension liabilities to an insurance company through the purchase of a group annuity contract and through lump sum distributions. These payments, funded with pension plan assets, resulted in pre-tax settlement losses related to the recognition of accumulated deferred actuarial losses.
[3]	Primarily represents the gain on the sale of investment in Sky for the three and six months ended December 31, 2018 and the change in fair value of a foreign currency option contract to limit the foreign currency exchange rate risk in connection with the Sky Acquisition for the three and six months ended December 31, 2017 (See Note 4 – Investments under the heading “Sky” for further discussion).
[4]	See Note 2 – Acquisitions, Disposals and Other Transactions.

Additional Financial Informat_4

Additional Financial Information (Supplemental Cash Flows Information) (Details) - USD ($) $ in Millions	6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Supplemental cash flows information
Cash paid for income taxes	$ (390)	$ (663)
Cash paid for interest	$ (623)	$ (596)

Supplemental Guarantor Inform_3

Supplemental Guarantor Information (Supplemental Condensed Consolidating Statements of Operations) (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Condensed Income Statements Captions [Line Items]
Revenues		$ 8,499	$ 8,037	$ 15,676	$ 15,039
Expenses		(7,103)	(6,769)	(12,591)	(12,161)
Equity (losses) earnings of affiliates		(109)	(33)	(74)	27
Interest expense, net		(294)	(312)	(594)	(625)
Interest income		86	9	94	19
Earnings from subsidiary entities		0	0	0	0
Other, net		10,475	(229)	10,527	(301)
Income from continuing operations before income tax (expense) benefit		11,554	703	13,038	1,998
Income tax (expense) benefit		(630)	1,218	(756)	827
Income from continuing operations		10,924	1,921	12,282	2,825
(Loss) income from discontinued operations, net of tax		(17)	(5)	(24)	11
Net income		10,907	1,916	12,258	2,836
Less: Net income attributable to noncontrolling interests	[1]	(92)	(85)	(158)	(150)
Net income attributable to Twenty-First Century Fox, Inc. stockholders		10,815	1,831	12,100	2,686
Comprehensive income attributable to Twenty-First Century Fox stockholders		11,290	2,058	12,419	3,055
Legal Entities \| 21st Century Fox America, Inc.
Condensed Income Statements Captions [Line Items]
Revenues		0	0	0	0
Expenses		(103)	(100)	(194)	(176)
Equity (losses) earnings of affiliates		0	0	0	0
Interest expense, net		(483)	(436)	(930)	(866)
Interest income		82	0	82	0
Earnings from subsidiary entities		12,108	3,193	14,097	4,784
Other, net		(150)	(206)	(232)	(219)
Income from continuing operations before income tax (expense) benefit		11,454	2,451	12,823	3,523
Income tax (expense) benefit		(628)	1,783	(744)	1,459
Income from continuing operations		10,826	4,234	12,079	4,982
(Loss) income from discontinued operations, net of tax		0	0	0	0
Net income		10,826	4,234	12,079	4,982
Less: Net income attributable to noncontrolling interests		0	0	0	0
Net income attributable to Twenty-First Century Fox, Inc. stockholders		10,826	4,234	12,079	4,982
Comprehensive income attributable to Twenty-First Century Fox stockholders		11,209	4,278	12,251	5,000
Legal Entities \| Twenty-First Century Fox
Condensed Income Statements Captions [Line Items]
Revenues		0	0	0	0
Expenses		0	0	0	0
Equity (losses) earnings of affiliates		0	0	0	0
Interest expense, net		(209)	(205)	(411)	(410)
Interest income		2	5	5	10
Earnings from subsidiary entities		11,294	2,036	12,602	3,075
Other, net		(255)	0	(72)	0
Income from continuing operations before income tax (expense) benefit		10,832	1,836	12,124	2,675
Income tax (expense) benefit		0	0	0	0
Income from continuing operations		10,832	1,836	12,124	2,675
(Loss) income from discontinued operations, net of tax		(17)	(5)	(24)	11
Net income		10,815	1,831	12,100	2,686
Less: Net income attributable to noncontrolling interests		0	0	0	0
Net income attributable to Twenty-First Century Fox, Inc. stockholders		10,815	1,831	12,100	2,686
Comprehensive income attributable to Twenty-First Century Fox stockholders		11,290	2,058	12,419	3,055
Legal Entities \| Non-Guarantor
Condensed Income Statements Captions [Line Items]
Revenues		8,499	8,037	15,676	15,039
Expenses		(7,000)	(6,669)	(12,397)	(11,985)
Equity (losses) earnings of affiliates		(109)	(33)	(74)	27
Interest expense, net		(22)	(20)	(45)	(42)
Interest income		422	353	799	702
Earnings from subsidiary entities		0	0	0	0
Other, net		10,880	(23)	10,831	(82)
Income from continuing operations before income tax (expense) benefit		12,670	1,645	14,790	3,659
Income tax (expense) benefit		(678)	2,123	(858)	1,515
Income from continuing operations		11,992	3,768	13,932	5,174
(Loss) income from discontinued operations, net of tax		0	0	0	0
Net income		11,992	3,768	13,932	5,174
Less: Net income attributable to noncontrolling interests		(92)	(85)	(158)	(150)
Net income attributable to Twenty-First Century Fox, Inc. stockholders		11,900	3,683	13,774	5,024
Comprehensive income attributable to Twenty-First Century Fox stockholders		12,318	3,743	14,008	5,161
Reclassifications and Eliminations
Condensed Income Statements Captions [Line Items]
Revenues		0	0	0	0
Expenses		0	0	0	0
Equity (losses) earnings of affiliates		0	0	0	0
Interest expense, net		420	349	792	693
Interest income		(420)	(349)	(792)	(693)
Earnings from subsidiary entities		(23,402)	(5,229)	(26,699)	(7,859)
Other, net		0	0	0	0
Income from continuing operations before income tax (expense) benefit		(23,402)	(5,229)	(26,699)	(7,859)
Income tax (expense) benefit		676	(2,688)	846	(2,147)
Income from continuing operations		(22,726)	(7,917)	(25,853)	(10,006)
(Loss) income from discontinued operations, net of tax		0	0	0	0
Net income		(22,726)	(7,917)	(25,853)	(10,006)
Less: Net income attributable to noncontrolling interests		0	0	0	0
Net income attributable to Twenty-First Century Fox, Inc. stockholders		(22,726)	(7,917)	(25,853)	(10,006)
Comprehensive income attributable to Twenty-First Century Fox stockholders		$ (23,527)	$ (8,021)	$ (26,259)	$ (10,161)

[1]	Net income attributable to noncontrolling interests includes $36 million and $48 million for the three months ended December 31, 2018 and 2017, respectively, and $60 million and $77 million for the six months ended December 31, 2018 and 2017, respectively, relating to redeemable noncontrolling interests.

Supplemental Guarantor Inform_4

Supplemental Guarantor Information (Supplemental Condensed Consolidating Balance Sheets) (Details) - USD ($) $ in Millions		Dec. 31, 2018	Sep. 30, 2018	Jul. 01, 2018	Jun. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017
Current assets
Cash and cash equivalents		$ 21,281			$ 7,622	$ 5,809		$ 6,163
Receivables, net		8,083		$ 7,625	7,120
Inventories, net	[1]	3,934			3,669
Other		719			922
Total current assets		34,017			19,333
Non-current assets
Receivables, net		859		$ 759	724
Inventories, net		8,133			7,518
Property, plant and equipment, net		1,971			1,956
Intangible assets, net		5,970			6,101
Goodwill		12,758			12,768
Other non-current assets		1,345			1,319
Investments
Investments in associated companies and other investments		833			4,112
Intragroup investments		0			0
Total investments		833			4,112
Total assets		65,886			53,831
Current liabilities
Borrowings		887			1,054
Other current liabilities		7,048			7,190
Total current liabilities		7,935			8,244
Non-current liabilities
Borrowings		18,321			18,469
Other non-current liabilities		5,819			5,556
Intercompany		0			0
Redeemable noncontrolling interests		576			764
Total equity		33,235	$ 21,924		20,798	19,631	$ 17,556	16,938
Total liabilities and equity		65,886			53,831
Legal Entities \| 21st Century Fox America, Inc.
Current assets
Cash and cash equivalents		18,411			2,882	13		40
Receivables, net		11			11
Inventories, net		0			0
Other		48			45
Total current assets		18,470			2,938
Non-current assets
Receivables, net		13			13
Inventories, net		0			0
Property, plant and equipment, net		345			343
Intangible assets, net		0			0
Goodwill		0			0
Other non-current assets		262			271
Investments
Investments in associated companies and other investments		263			178
Intragroup investments		127,850			113,781
Total investments		128,113			113,959
Total assets		147,203			117,524
Current liabilities
Borrowings		700			950
Other current liabilities		408			528
Total current liabilities		1,108			1,478
Non-current liabilities
Borrowings		17,286			17,280
Other non-current liabilities		482			502
Intercompany		63,100			45,817
Redeemable noncontrolling interests		0			0
Total equity		65,227			52,447
Total liabilities and equity		147,203			117,524
Legal Entities \| Twenty-First Century Fox
Current assets
Cash and cash equivalents		1,575			3,323	4,094		4,882
Receivables, net		2			0
Inventories, net		0			0
Other		0			0
Total current assets		1,577			3,323
Non-current assets
Receivables, net		0			0
Inventories, net		0			0
Property, plant and equipment, net		0			0
Intangible assets, net		0			0
Goodwill		0			0
Other non-current assets		0			0
Investments
Investments in associated companies and other investments		186			257
Intragroup investments		78,002			65,022
Total investments		78,188			65,279
Total assets		79,765			68,602
Current liabilities
Borrowings		0			0
Other current liabilities		41			31
Total current liabilities		41			31
Non-current liabilities
Borrowings		0			0
Other non-current liabilities		0			89
Intercompany		47,719			48,918
Redeemable noncontrolling interests		0			0
Total equity		32,005			19,564
Total liabilities and equity		79,765			68,602
Legal Entities \| Non-Guarantor
Current assets
Cash and cash equivalents		1,295			1,417	1,702		1,241
Receivables, net		8,073			7,110
Inventories, net		3,934			3,669
Other		671			877
Total current assets		13,973			13,073
Non-current assets
Receivables, net		846			711
Inventories, net		8,133			7,518
Property, plant and equipment, net		1,626			1,613
Intangible assets, net		5,970			6,101
Goodwill		12,758			12,768
Other non-current assets		1,083			1,048
Investments
Investments in associated companies and other investments		384			3,677
Intragroup investments		0			0
Total investments		384			3,677
Total assets		44,773			46,509
Current liabilities
Borrowings		187			104
Other current liabilities		6,602			6,632
Total current liabilities		6,789			6,736
Non-current liabilities
Borrowings		1,035			1,189
Other non-current liabilities		5,337			4,965
Intercompany		(110,819)			(94,735)
Redeemable noncontrolling interests		576			764
Total equity		141,855			127,590
Total liabilities and equity		44,773			46,509
Reclassifications and Eliminations
Current assets
Cash and cash equivalents		0			0	$ 0		$ 0
Receivables, net		(3)			(1)
Inventories, net		0			0
Other		0			0
Total current assets		(3)			(1)
Non-current assets
Receivables, net		0			0
Inventories, net		0			0
Property, plant and equipment, net		0			0
Intangible assets, net		0			0
Goodwill		0			0
Other non-current assets		0			0
Investments
Investments in associated companies and other investments		0			0
Intragroup investments		(205,852)			(178,803)
Total investments		(205,852)			(178,803)
Total assets		(205,855)			(178,804)
Current liabilities
Borrowings		0			0
Other current liabilities		(3)			(1)
Total current liabilities		(3)			(1)
Non-current liabilities
Borrowings		0			0
Other non-current liabilities		0			0
Intercompany		0			0
Redeemable noncontrolling interests		0			0
Total equity		(205,852)			(178,803)
Total liabilities and equity		$ (205,855)			$ (178,804)

[1]	Current portion of inventories, net as of December 31, 2018 and June 30, 2018 was comprised of programming rights ($3,886 million and $3,625 million, respectively), DVDs, Blu-rays and other merchandise.

Supplemental Guarantor Inform_5

Supplemental Guarantor Information (Supplemental Condensed Consolidating Statements of Cash Flows) (Details) - USD ($) $ in Millions	6 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
OPERATING ACTIVITIES
Net cash provided by operating activities from continuing operations	$ 557	$ 504
INVESTING ACTIVITIES
Property, plant and equipment	(219)	(238)
Proceeds from dispositions, net	15,020	362
Other investing activities, net	(472)	(293)
Net cash provided by (used in) investing activities from continuing operations	14,329	(169)
FINANCING ACTIVITIES
Borrowings	90	1,282
Repayment of borrowings	(412)	(1,411)
Dividends paid and distributions	(517)	(512)
Employee taxes paid for share-based payment arrangements	(162)	(32)
Other financing activities, net	(89)	(18)
Net cash used in financing activities from continuing operations	(1,090)	(691)
Discontinued operations
Net decrease in cash and cash equivalents from discontinued operations	(32)	(26)
Net increase (decrease) in cash and cash equivalents	13,764	(382)
Cash and cash equivalents, beginning of year	7,622	6,163
Exchange movement on cash balances	(105)	28
Cash and cash equivalents, end of period	21,281	5,809
Legal Entities \| 21st Century Fox America, Inc.
OPERATING ACTIVITIES
Net cash provided by operating activities from continuing operations	16,139	177
INVESTING ACTIVITIES
Property, plant and equipment	(25)	(90)
Proceeds from dispositions, net	(130)	0
Other investing activities, net	(129)	(59)
Net cash provided by (used in) investing activities from continuing operations	(284)	(149)
FINANCING ACTIVITIES
Borrowings	0	0
Repayment of borrowings	(250)	0
Dividends paid and distributions	0	0
Employee taxes paid for share-based payment arrangements	(44)	(11)
Other financing activities, net	0	(18)
Net cash used in financing activities from continuing operations	(294)	(29)
Discontinued operations
Net decrease in cash and cash equivalents from discontinued operations	(32)	(26)
Net increase (decrease) in cash and cash equivalents	15,529	(27)
Cash and cash equivalents, beginning of year	2,882	40
Exchange movement on cash balances	0	0
Cash and cash equivalents, end of period	18,411	13
Legal Entities \| Twenty-First Century Fox
OPERATING ACTIVITIES
Net cash provided by operating activities from continuing operations	(1,414)	(455)
INVESTING ACTIVITIES
Property, plant and equipment	0	0
Proceeds from dispositions, net	0	0
Other investing activities, net	0	0
Net cash provided by (used in) investing activities from continuing operations	0	0
FINANCING ACTIVITIES
Borrowings	0	0
Repayment of borrowings	0	0
Dividends paid and distributions	(334)	(333)
Employee taxes paid for share-based payment arrangements	0	0
Other financing activities, net	0	0
Net cash used in financing activities from continuing operations	(334)	(333)
Discontinued operations
Net decrease in cash and cash equivalents from discontinued operations	0	0
Net increase (decrease) in cash and cash equivalents	(1,748)	(788)
Cash and cash equivalents, beginning of year	3,323	4,882
Exchange movement on cash balances	0	0
Cash and cash equivalents, end of period	1,575	4,094
Legal Entities \| Non-Guarantor
OPERATING ACTIVITIES
Net cash provided by operating activities from continuing operations	(14,168)	782
INVESTING ACTIVITIES
Property, plant and equipment	(194)	(148)
Proceeds from dispositions, net	15,150	362
Other investing activities, net	(343)	(234)
Net cash provided by (used in) investing activities from continuing operations	14,613	(20)
FINANCING ACTIVITIES
Borrowings	90	1,282
Repayment of borrowings	(162)	(1,411)
Dividends paid and distributions	(183)	(179)
Employee taxes paid for share-based payment arrangements	(118)	(21)
Other financing activities, net	(89)	0
Net cash used in financing activities from continuing operations	(462)	(329)
Discontinued operations
Net decrease in cash and cash equivalents from discontinued operations	0	0
Net increase (decrease) in cash and cash equivalents	(17)	433
Cash and cash equivalents, beginning of year	1,417	1,241
Exchange movement on cash balances	(105)	28
Cash and cash equivalents, end of period	1,295	1,702
Reclassifications and Eliminations
OPERATING ACTIVITIES
Net cash provided by operating activities from continuing operations	0	0
INVESTING ACTIVITIES
Property, plant and equipment	0	0
Proceeds from dispositions, net	0	0
Other investing activities, net	0	0
Net cash provided by (used in) investing activities from continuing operations	0	0
FINANCING ACTIVITIES
Borrowings	0	0
Repayment of borrowings	0	0
Dividends paid and distributions	0	0
Employee taxes paid for share-based payment arrangements	0	0
Other financing activities, net	0	0
Net cash used in financing activities from continuing operations	0	0
Discontinued operations
Net decrease in cash and cash equivalents from discontinued operations	0	0
Net increase (decrease) in cash and cash equivalents	0	0
Cash and cash equivalents, beginning of year	0	0
Exchange movement on cash balances	0	0
Cash and cash equivalents, end of period	$ 0	$ 0