Borrowings (Tables)

12 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Schedule of Borrowings

The Company’s total borrowings consist of the following:

	Interest rate at June 30, 2019			Due date at June 30, 2019		As of June 30, 2019			As of June 30, 2018
						(in millions)
Foxtel Group
Credit facility 2013(a)(b)		—			Apr 7, 2019	$	—		$	222
Credit facility 2014—tranche 1(a)(b)		—			May 30, 2019		—			148
Credit facility 2014—tranche 2(a)		3.07	%		Jan 31, 2020		56			148
Credit facility 2015(a)		3.32	%		Jul 31, 2020		281			296
Credit facility 2016(a)(c)		3.81	%		Sept 11, 2021		193			108
Working capital facility 2017(a)(c)		3.47	%		Jul 3, 2020		56			59
US private placement 2009—tranche 3		6.20	%		Sept 24, 2019		75			75
US private placement 2012—USD portion—tranche 1(d)		3.68	%		Jul 25, 2019		150			150
US private placement 2012—USD portion—tranche 2(d)		4.27	%		Jul 25, 2022		199			196
US private placement 2012—USD portion—tranche 3(d)		4.42	%		Jul 25, 2024		149			146
US private placement 2012—AUD portion		7.04	%		Jul 25, 2022		77			83
REA Group
Credit facility 2016—tranche 2(e)(f)		—			Dec 31, 2018		—			89
Credit facility 2016—tranche 3(e)(f)		2.97	%		Dec 31, 2019		168			178
Credit facility 2018(e)(f)		2.73	%		Apr 27, 2021		49			54
Total borrowings							1,453			1,952
Less: current portion(g)							(449	)		(462	)
Long-term borrowings						$	1,004		$	1,490

(a) Borrowings under these facilities bear interest at a floating rate of Australian BBSY plus an applicable margin of between 1.20% and 2.70% per annum payable quarterly.

(b) During the fiscal year ended June 30, 2019, the Foxtel Debt Group repaid its A$300 million (approximately $216 million) facility maturing in April 2019 and its A$200 million (approximately $139 million) facility maturing in May 2019 using A$500 million of shareholder loans provided by the Company.

(c) As of June 30, 2019, the Foxtel Debt Group has undrawn commitments of $181 million under these facilities for which it pays a commitment fee in the range of 40% and 45% of the applicable margin.

(d) The carrying values of the borrowings include any fair value adjustments related to the Company’s fair value hedges. See Note 11—Financial Instruments and Fair Value Measurements.

(e) Borrowings under these facilities bear interest at a floating rate of the Australian BBSY plus a margin in the range of 0.85% and 1.45% depending on REA Group’s net leverage ratio. As of June 30, 2019, REA Group was paying a margin of between 0.85% and 1.05%.

(f) During the fiscal year ended June 30, 2019, REA Group repaid $87 million (A$120 million) for its unsecured loan facility due December 2018. REA Group had remaining borrowings of $217 million, of which approximately $168 million (A$240 million) will mature in fiscal 2020.

(g) 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.”

Scheduled of Debt Maturities Excluding Other Obligations and Debt Issuance Costs

The following table summarizes the Company’s debt maturities as of June 30, 2019:

	As of June 30, 2019
	(in millions)
Fiscal 2020	$	449
Fiscal 2021		386
Fiscal 2022		193
Fiscal 2023		276
Fiscal 2024		—
Thereafter		149