CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Sep. 30, 2025	Jun. 30, 2025
Current assets:
Cash and cash equivalents		$ 2,198	$ 2,403
Receivables, net		1,635	1,562
Inventory, net		327	327
Other current assets		313	519
Total current assets		4,473	4,811
Non-current assets:
Investments		1,028	1,016
Property, plant and equipment, net		1,321	1,331
Operating lease right-of-use assets		779	789
Intangible assets, net		1,897	1,930
Goodwill		4,420	4,373
Deferred income tax assets, net		233	254
Other non-current assets		1,192	1,000
Total assets		15,343	15,504
Current liabilities:
Accounts payable		368	335
Accrued expenses		949	1,036
Deferred revenue		504	498
Current borrowings		25	25
Other current liabilities		691	714
Total current liabilities		2,537	2,608
Non-current liabilities:
Borrowings		1,931	1,937
Retirement benefit obligations		118	117
Deferred income tax liabilities, net		53	57
Operating lease liabilities		900	904
Other non-current liabilities		494	492
Commitments and contingencies
Additional paid-in capital		10,929	11,058
Accumulated deficit		(664)	(747)
Accumulated other comprehensive loss		(1,567)	(1,543)
Total News Corporation stockholders’ equity		8,704	8,774
Noncontrolling interests		606	615
Total equity		9,310	9,389
Total liabilities and equity		15,343	15,504
Class A Common Stock
Non-current liabilities:
Common stock	[1]	4	4
Class B Common Stock
Non-current liabilities:
Common stock	[2]	$ 2	$ 2

[1] Class A common stock, $0.01 par value per share (“Class A Common Stock”), 1,500,000,000 shares authorized, 376,118,969 and 376,718,696 shares issued and outstanding, net of 27,368,413 treasury shares at par, at September 30, 2025 and June 30, 2025, respectively.

[2] Class B common stock, $0.01 par value per share (“Class B Common Stock”), 750,000,000 shares authorized, 187,745,066 and 188,666,990 shares issued and outstanding, net of 78,430,424 treasury shares at par, at September 30, 2025 and June 30, 2025, respectively.