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Additional Financial Information (Tables)
 6 Months Ended
Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Components of Receivables, Net

Receivables, net consist of:

 

     As of
December 31, 2014		     As of
June 30, 2014		  
     (in millions)  

Receivables

    $ 1,708      $ 1,563   

Allowances for returns and doubtful accounts

      (258 )      (175 ) 
  

 

 

    

 

 

  

Receivables, net

 $ 1,450    $ 1,388   
  

 

 

    

 

 
Components of Other Current Assets

The following table sets forth the components of Other current assets:

 

     As of
December 31, 2014		      As of
June 30, 2014		  
     (in millions)  

Inventory(a)

    $ 274       $ 310   

Assets held for sale

      2         11   

Deferred tax assets

      76         76   

Prepayments and other current assets

      277         274   
  

 

 

     

 

 

  

Total Other current assets

 $ 629    $ 671   
  

 

 

     

 

 

  

 

(a)  Inventory at December 31, 2014 and June 30, 2014 was primarily comprised of books, newsprint, printing ink, plate material and programming rights.
Components of Other Non-Current Assets

The following table sets forth the components of Other non-current assets:

 

     As of
December 31, 2014		      As of
June 30, 2014		  
     (in millions)  

Royalty advances to authors

    $ 286       $ 267   

Notes receivable(a)

      76         83   

Deferred tax assets

      187         146   

Other

      168         186   
  

 

 

     

 

 

  

Total Other non-current assets

 $ 717    $ 682   
  

 

 

     

 

 

  

 

(a)  Notes receivable relates to the Company’s sale of its former U.K. newspaper division headquarters.
Components of Other Current Liabilities

The following table sets forth the components of Other current liabilities:

 

     As of
December 31, 2014		      As of
June 30, 2014		  
     (in millions)  

Current tax payable

    $ 86       $ 25   

Current deferred income tax

      45         36   

Royalties and commissions payable

      192         168   

Other

      138         202   
  

 

 

     

 

 

  

Total Other current liabilities

 $ 461    $ 431   
  

 

 

     

 

 

  

 
Components of Other, Net

The following table sets forth the components of Other, net:

 

     For the three months ended
December 31,		     For the six months ended
December 31,		  
         2014              2013             2014              2013      
     (in millions)  

Foreign tax refund payable to 21st Century Fox(a)

    $ —         $ (238 )    $ —         $ (721 ) 

Gain on third party pension contribution(b)

      —           —          —           37   

Gain on sale of marketable securities(c)

      —           —          29         —     

Dividends received from cost method investments

      3         —          20         —     

Other, net

      7         7        9         12   
  

 

 

     

 

 

    

 

 

     

 

 

  

Total Other, net

 $ 10    $ (231 )  $ 58    $ (672 ) 
  

 

 

     

 

 

    

 

 

     

 

 

  

 

(a)  See Note 12—Income Taxes
(b)  See Note 11—Pension and Other Postretirement Benefits
(c)  In August 2014, REA Group completed the sale of a minority interest held in marketable securities for total cash consideration of $104 million. As a result of the sale, REA Group recognized a pre-tax gain of $29 million, which was reclassified out of accumulated other comprehensive income and included in Other, net in the Statement of Operations.