NOTE 8. EQUITY

The following table summarizes changes in equity:


	For the three months ended September 30,
	2018									2017
	News									News
	Corporation			Noncontrolling			Total			Corporation			Noncontrolling			Total
	stockholders			Interests			Equity			stockholders			Interests			Equity
	(in millions)
Balance, beginning of period	$	9,291		$	1,186		$	10,477		$	10,789		$	284		$	11,073
Cumulative impact of revenue standard adoption		10			10			20			—			—			—
Net income		101			27			128			68			19			87
Other comprehensive (loss) income		(75	)		(28	)		(103	)		112			4			116
Dividends		(59	)		(23	)		(82	)		(59	)		(21	)		(80	)
Other		(7	)		(3	)		(10	)		3			(3	)		—

Balance, end of period	$	9,261		$	1,169		$	10,430		$	10,913		$	283		$	11,196

Stock Repurchases

In May 2013, the Company’s Board of Directors (the “Board of Directors”) authorized the Company to repurchase up to an aggregate of $500 million of its Class A Common Stock. No stock repurchases were made during the three months ended September 30, 2018. Through November 2, 2018, the Company cumulatively repurchased approximately 5.2 million shares of Class A Common Stock for an aggregate cost of approximately $71 million. The remaining authorized amount under the stock repurchase program as of November 2, 2018 was approximately $429 million. All decisions regarding any future stock repurchases are at the sole discretion of a duly appointed committee of the Board of Directors and management. The committee’s decisions regarding future stock repurchases will be evaluated from time to time in light of many factors, including the Company’s financial condition, earnings, capital requirements and debt facility covenants, other contractual restrictions, as well as legal requirements, regulatory constraints, industry practice, market volatility and other factors that the committee may deem relevant. The stock repurchase authorization may be modified, extended, suspended or discontinued at any time by the Board of Directors and the Board of Directors cannot provide any assurances that any additional shares will be repurchased.

Dividends

In August 2018, the Board of Directors declared a semi-annual cash dividend of $0.10 per share for Class A Common Stock and Class B Common Stock. This dividend was paid on October 17, 2018 to stockholders of record at the close of business on September 12, 2018. The timing, declaration, amount and payment of future dividends to stockholders, if any, is within the discretion of the Board of Directors. The Board of Directors’ decisions regarding the payment of future dividends will depend on many factors, including the Company’s financial condition, earnings, capital requirements and debt facility covenants, other contractual restrictions, as well as legal requirements, regulatory constraints, industry practice, market volatility and other factors that the Board of Directors deems relevant.