Earnings (Loss) Per Share

12 Months Ended

Jun. 30, 2020

NOTE 15. EARNINGS (LOSS) PER SHARE

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


	For the fiscal years ended June 30,
	2020		2019		2018
	(in millions, except per share amounts)
Net (loss) income	$	(1,545)	$	228	$	(1,444)
Less: Net loss (income) attributable to noncontrolling interests	276		(73)		(70)
Less: Redeemable preferred stock dividends^(a)	—		—		(2)
Net (loss) income attributable to News Corporation stockholders	$	(1,269)	$	155	$	(1,516)
Weighted-average number of shares of common stock outstanding—basic	587.9		584.7		582.7
Dilutive effect of equity awards^(b)	—		3.2		—
Weighted-average number of shares of common stock outstanding—diluted	587.9		587.9		582.7
Net (loss) income attributable to News Corporation stockholders per share - basic	$	(2.16)	$	0.27	$	(2.60)
Net (loss) income attributable to News Corporation stockholders per share - diluted	$	(2.16)	$	0.26	$	(2.60)

________________________

(a)Refer to Note 11—Redeemable Preferred Stock.

(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 fiscal years ended June 30, 2020 and 2018 because their inclusion would have an antidilutive effect on the net loss per share.