Borrowings (Tables)

3 Months Ended

Sep. 30, 2018

Debt Disclosure [Abstract]

Schedule of Borrowings

The Company’s total borrowings consist of the following:

	Interest rate at September 30, 2018			Due date at September 30, 2018		As of September 30, 2018			As of June 30, 2018
						(in millions)
Foxtel Group
Credit facility 2013(a)		3.63	%		Apr 7, 2019	$	217		$	222
Credit facility 2014 — tranche 1(a)		3.68	%		May 30, 2019		144			148
Credit facility 2014 — tranche 2(a)		3.78	%		Jan 31, 2020		144			148
Credit facility 2015(a)		3.83	%		Jul 31, 2020		289			296
Credit facility 2016(a)(b)		4.38	%		Sept 11, 2021		47			108
Working capital facility 2017(a)(b)		3.98	%		Jul 3, 2020		58			59
US private placement 2009 — tranche 3		6.20	%		Sept 24, 2019		75			75
US private placement 2012 — USD portion — tranche 1(c)		3.68	%		Jul 25, 2019		149			150
US private placement 2012 — USD portion — tranche 2(c)		4.27	%		Jul 25, 2022		197			196
US private placement 2012 — USD portion — tranche 3(c)		4.42	%		Jul 25 2024		147			146
US private placement 2012 — AUD portion		7.04	%		Jul 25, 2022		80			83
REA Group
Credit facility 2016 — tranche 2(d)		2.84	%		Dec 31, 2018		86			89
Credit facility 2016 — tranche 3(d)		2.94	%		Dec 31, 2019		173			178
Credit facility 2018(d)		2.76	%		April 27, 2021		51			54
Total borrowings							1,857			1,952
Less: current portion(e)							(671	)		(462	)
Long-term borrowings						$	1,186		$	1,490

^(a)  Borrowings under these facilities bear interest at a floating rate of Australian BBSY plus an applicable margin of between 1.10% and 2.70% per annum payable quarterly.

^(b)  As of September 30, 2018, the Foxtel Group has undrawn commitments of $251 million under these facilities for which it pays a commitment fee in the range of 40% to 45% of the applicable margin.

^(c)  The carrying value of the borrowings include any fair value adjustments related to the Company’s fair value hedges. See Note 9 —Financial Instruments and Fair Value Measurements.

^(d)  Borrowings under these facilities bear interest at a floating rate of the Australian BBSY plus a margin of between 0.85% and 1.45% depending on REA Group’s net leverage ratio. As of September 30, 2018, REA Group was paying a margin of between 0.85% and 1.05%.

^(e)  The Company classifies the current portion of long term debt as non-current liabilities on the Balance Sheets when it has the intent and ability to refinance the obligation on a long-term basis, in accordance with ASC 470-50 “Debt.”