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Earnings Per Share (Tables)
 3 Months Ended
Sep. 30, 2016
Earnings Per Share [Abstract]  
Computation of Basic and Diluted Earnings per Share

The following tables set forth the computation of basic and diluted earnings per share under ASC 260, “Earnings per Share”:

 

     For the three months ended September 30,  
         2016             2015      
     (in millions, except per share amounts)  

Income from continuing operations

    $ —        $ 143   

Less: Net income attributable to noncontrolling interests

      (15 )      (14 ) 
  

 

 

    

 

 

  

(Loss) income from continuing operations available to News Corporation stockholders

      (15 )      129   

Income from discontinued operations, net of tax, available to News Corporation stockholders

      —          46   
  

 

 

    

 

 

  

Net (Loss) income available to News Corporation stockholders

    $ (15 )    $ 175   
  

 

 

    

 

 

  

Weighted-average number of shares of common stock outstanding—basic

      580.8        581.0   

Dilutive effect of equity awards(a)

      —          1.7   
  

 

 

    

 

 

  

Weighted-average number of shares of common stock outstanding—diluted

      580.8        582.7   
  

 

 

    

 

 

  

(Loss) income from continuing operations available to News Corporation stockholders per share—basic and diluted

    $ (0.03 )    $ 0.22   

Income from discontinued operations available to News Corporation stockholders per share—basic and diluted

    $ —        $ 0.08   
  

 

 

    

 

 

  

Net (loss) income available to News Corporation stockholders per share—basic and diluted

    $ (0.03 )    $ 0.30   
  

 

 

    

 

 

  

 

(a) 

The dilutive impact of the Company’s PSUs, RSUs and stock options have been excluded from the calculation of diluted (loss) earnings per share for the three months ended September 30, 2016 because their inclusion would have an antidilutive effect on the net loss per share.