Equity

6 Months Ended

Dec. 31, 2018

Federal Home Loan Banks [Abstract]

Equity

NOTE 8. EQUITY

The following tables summarize changes in equity for the three and six months ended December 31, 2018 and 2017:

	For the three months ended December 31, 2018
	Class A Common Stock				Class B Common Stock				Additional Paid-in Capital		Accumulated Deficit			Accumulated Other Comprehensive Loss			Total News Corporation Equity			Noncontrolling Interests			Total Equity
	Shares		Amount		Shares		Amount
	(in millions)
Balance, September 30, 2018		385	$	4		200	$	2	$	12,257	$	(2,032	)	$	(970	)	$	9,261		$	1,169		$	10,430
Net income		—		—		—		—		—		95			—			95			24			119
Other comprehensive loss		—		—		—		—		—		—			(106	)		(106	)		(28	)		(134	)
Dividends		—		—		—		—		—		—			—			—			—			—
Other		—		—		—		—		14		—			—			14			5			19
Balance, December 31, 2018		385	$	4		200	$	2	$	12,271	$	(1,937	)	$	(1,076	)	$	9,264		$	1,170		$	10,434

	For the three months ended December 31, 2017
	Class A Common Stock				Class B Common Stock				Additional Paid-in Capital		Accumulated Deficit			Accumulated Other Comprehensive Loss			Total News Corporation Equity			Noncontrolling Interests			Total Equity
	Shares		Amount		Shares		Amount
	(in millions)
Balance, September 30, 2017		383	$	4		200	$	2	$	12,340	$	(581	)	$	(852	)	$	10,913		$	283		$	11,196
Net (loss) income		—		—		—		—		—		(83	)		—			(83	)		17			(66	)
Other comprehensive income (loss)		—		—		—		—		—		—			20			20			(1	)		19
Dividends		—		—		—		—		—		—			—			—			—			—
Other		—		—		—		—		10		—			—			10			(1	)		9
Balance, December 31, 2017		383	$	4		200	$	2	$	12,350	$	(664	)	$	(832	)	$	10,860		$	298		$	11,158

	For the six months ended December 31, 2018
	Class A Common Stock				Class B Common Stock				Additional Paid-in Capital			Accumulated Deficit			Other Comprehensive Loss			Total News Corporation Equity			Noncontrolling Interests			Total Equity
	Shares		Amount		Shares		Amount
	(in millions)
Balance, June 30, 2018		383	$	4		200	$	2	$	12,322		$	(2,163	)	$	(874	)	$	9,291		$	1,186		$	10,477
Cumulative impact from adoption of new accounting standards													32			(22	)		10			10			20
Net income		—		—		—		—		—			196			—			196			51			247
Other comprehensive loss		—		—		—		—		—			—			(181	)		(181	)		(56	)		(237	)
Dividends		—		—		—		—		(59	)		—			—			(59	)		(23	)		(82	)
Other		2		—		—		—		8			(2	)		1			7			2			9
Balance, December 31, 2018		385	$	4		200	$	2	$	12,271		$	(1,937	)	$	(1,076	)	$	9,264		$	1,170		$	10,434

	For the six months ended December 31, 2017
	Class A Common Stock				Class B Common Stock				Additional Paid-in Capital			Accumulated Deficit			Accumulated Other Comprehensive Loss			Total News Corporation Equity			Noncontrolling Interests			Total Equity
	Shares		Amount		Shares		Amount
	(in millions)
Balance, June 30, 2017		382	$	4		200	$	2	$	12,395		$	(648	)	$	(964	)	$	10,789		$	284		$	11,073
Net (loss) income		—		—		—		—		—			(15	)		—			(15	)		36			21
Other comprehensive income		—		—		—		—		—			—			132			132			3			135
Dividends		—		—		—		—		(59	)		—			—			(59	)		(21	)		(80	)
Other		1		—		—		—		14			(1	)		—			13			(4	)		9
Balance, December 31, 2017		383	$	4		200	$	2	$	12,350		$	(664	)	$	(832	)	$	10,860		$	298			11,158

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 six months ended December 31, 2018. Through February 1, 2019, 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 February 1, 2019 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. In August 2017, 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 18, 2017 to stockholders of record at the close of business on September 13, 2017. 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.