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Related Party Transactions and 21st Century Fox Investment (Tables)
 12 Months Ended
Jun. 30, 2014
Schedule of Net Revenue from Related Parties

The following table sets forth the net revenue from related parties included in the Statements of Operations:

 

     For the fiscal years ended June 30,  
         2014              2013              2012      
     (in millions)  

Related party revenue, net of expense

    $ 349       $ 242       $ 61   
Schedule of Amount of Accounts Receivable Due from and Payable to Related Parties

The following table sets forth the amount of accounts receivable due from and payable to related parties outstanding on the Balance Sheets:

 

     As of June 30,  
     2014      2013  
     (in millions)  

Accounts receivable from related parties

    $ 2       $ 2   

Amounts due from 21st Century Fox

      66         247   

Notes receivable from related parties

      425         412   

Accounts payable to related parties

      —           —     
21st Century Fox [Member]
  
Schedule of Components of Net Decrease in Investment

The following table summarizes the components of the net decrease in 21st Century Fox investment for the fiscal years ended June 30, 2013 and 2012:

 

     For the fiscal years ended June 30,  
           2013                 2012        
     (in millions)  

Cash pooling and general financing activities(a)

    $ (176 )    $ (1,178 ) 

Corporate allocations

      240        212   

Cash transfer from 21st Century Fox for acquisitions and dispositions

      1,933        —     

Contribution of assets and liabilities assumed upon Separation:

     

Cash

      786        —     

Amounts due from 21st Century Fox(b)

      247        —     

Taxes payable(c)

      571        —     

Deferred taxes, net of valuation allowances(d)

      416        —     

Cost and equity-based investments

      127        —     

Employee benefits and compensation liabilities

      (94 )      —     

Redeemable preferred stock

      (20 )      —     

Other liabilities, net

      (11 )      —     

Conversion of 21st Century Fox investment to Additional paid-in capital

      (12,287 )      —     
  

 

 

    

 

 

  

Net decrease in 21st Century Fox investment

    $ (8,268 )    $ (966 ) 
  

 

 

    

 

 

  

 

(a) 

The activities included in the line item “Cash pooling and general financing activities” include financing activities for capital transfers, cash sweeps and other treasury services prior to the Separation. Such pooling activities no longer exist between the Company and 21st Century Fox post-Separation.
(b) 

The amounts due from 21st Century Fox consisted of a receivable of $207 million related to the final cash distribution which was received from 21st Century Fox during the first quarter of fiscal 2014 and $40 million related to the indemnification of certain costs related to the U.K. Newspaper Matters as discussed below.
(c) 

For purposes of the Company’s Financial Statements for periods prior to the Separation, income tax expense has been recorded as if the Company filed tax returns on a stand-alone basis separate from 21st Century Fox by applying the separate tax returns method. This amount represents the difference between the separate return method and the actual income tax liabilities allocated to the Company, pursuant to the applicable tax law, as of the Distribution Date.
(d) 

The deferred taxes primarily relate to a U.S. deferred tax asset of $429 million ($378 million, net of valuation allowance) as a result of the increased tax basis recognized for goodwill and intangible assets pursuant to the internal reorganization, that transferred to the Company upon Separation.