Loss Per Share (Tables)

9 Months Ended

Mar. 31, 2018

Computation of Basic and Diluted Loss Per Share

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


	For the three months ended March 31,						For the nine months ended March 31,
	2018			2017			2018			2017
	(in millions, except per share amounts)
Net loss	$	(1,110	)	$	—		$	(1,089	)	$	(219	)
Less: Net income attributable to noncontrolling interests		(18	)		(5	)		(54	)		(90	)
Less: Redeemable preferred stock dividends^(a)		—			—			(1	)		(1	)

Net loss available to News Corporation stockholders	$	(1,128	)	$	(5	)	$	(1,144	)	$	(310	)

Weighted-average number of shares of common stock outstanding - basic and diluted^(b)		582.8			581.6			582.6			581.2

Net loss available to News Corporation stockholders per share - basic and diluted	$	(1.94	)	$	(0.01	)	$	(1.96	)	$	(0.53	)

(a)

In connection with the Separation, as defined in Note 9, Twenty-First Century Fox, Inc. (“21st Century Fox”) sold 4,000 shares of cumulative redeemable preferred stock with a par value of $5,000 per share of a newly formed U.S. subsidiary of the Company. The preferred stock pays dividends at a rate of 9.5% per annum, payable quarterly. The preferred stock is callable by the Company at any time after the fifth year and is puttable at the option of the holder after 10 years.

(b)	The dilutive impact of the Company’s PSUs, RSUs and stock options has been excluded from the calculation of diluted loss per share for the three and nine months ended March 31, 2018 and 2017 because their inclusion would have an antidilutive effect on the net loss per share.