Additional Financial Information (Tables)

9 Months Ended

Mar. 31, 2015

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Components of Receivables, Net

Receivables, net consist of:

	As of			As of
	March 31, 2015			June 30, 2014
	(in millions)
Receivables	$	1,546		$	1,563
Allowances for returns and doubtful accounts		(238	)		(175	)
Receivables, net	$	1,308		$	1,388

Components of Other Current Assets

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

	As of		As of
	March 31, 2015		June 30, 2014
	(in millions)
Inventory(a)	$	370	$	310
Deferred tax assets		79		76
Prepayments and other current assets		252		285
Total Other current assets	$	701	$	671

^(a)  Inventory at March 31, 2015 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		As of
	March 31, 2015		June 30, 2014
	(in millions)
Royalty advances to authors	$	288	$	267
Notes receivable(a)		74		83
Deferred tax assets		168		146
Other		164		186
Total Other non-current assets	$	694	$	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		As of
	March 31, 2015		June 30, 2014
	(in millions)
Current tax payable	$	47	$	25
Current deferred income tax		39		36
Royalties and commissions payable		197		168
Other		245		202
Total Other current liabilities	$	528	$	431

Components of Other, Net

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

	For the three months ended						For the nine months ended
	March 31,						March 31,
	2015			2014			2015		2014
	(in millions)
Foreign tax refund payable to 21st Century Fox(a)	$	—		$	—		$	—	$	(721	)
Gain on third party pension contribution(b)		—			—			—		37
Gain on sale of marketable securities(c)		—			—			29		—
Dividends received from cost method investments		—			—			20		—
Gain on sale of cost method investment		14			—			14		—
Other, net		(2	)		(1	)		7		11
Total Other, net	$	12		$	(1	)	$	70	$	(673	)

^(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.