Equity

6 Months Ended

Dec. 31, 2018

Stockholders Equity Note [Abstract]

Equity

NOTE 6. EQUITY

The following tables summarize changes in equity:

	For the three months ended December 31, 2018										For the six months ended December 31, 2018
	Total FOX equity				Noncontrolling interests(a)			Total equity			Total FOX equity			Noncontrolling interests(a)		Total equity
	(in millions)
Balance, beginning of period	$	11,045			$	9		$	11,054		$	9,594		$	-	$	9,594
Net income		8				6			14			612			6		618
Other comprehensive income		2				-			2			3			-		3
Other		(19	)			(3	)		(22	)		162	(b)		6		168
Net (decrease) increase in 21CF investment		(642	)	(c)		-			(642	)		23	(c)		-		23
		-
Balance, end of period	$	10,394			$	12		$	10,406		$	10,394		$	12	$	10,406

	For the three months ended December 31, 2017								For the six months ended December 31, 2017
	Total FOX equity			Noncontrolling interests(a)		Total equity			Total FOX equity			Noncontrolling interests(a)		Total equity
	(in millions)
Balance, beginning of period	$	6,533		$	-	$	6,533		$	6,093		$	-	$	6,093
Net income		869			-		869			1,259			-		1,259
Other comprehensive income		98			-		98			180			-		180
Other		(19	)		-		(19	)		(37	)		-		(37	)
Net increase in 21CF investment		472			-		472			458			-		458
		-
Balance, end of period	$	7,953		$	-	$	7,953		$	7,953		$	-	$	7,953

^(a) Excludes Redeemable noncontrolling interests which are reflected in temporary equity (See Note 4 - Fair Value under the heading “Redeemable Noncontrolling Interests”).

^(b) Approximately $200 million was reclassified to 21CF investment from Redeemable noncontrolling interests (See Note 4 - Fair Value).

^(c) Includes accumulated other comprehensive loss of $143 million transferred from 21CF investment (See Note 10 - Pension and Other Postretirement Benefits).

Comprehensive Income

Comprehensive income is reported in the Unaudited Combined Statements of Comprehensive Income and consists of Net income and Other comprehensive income (loss), including unrealized holding gains and losses on securities and benefit plan adjustments, which affect Total equity, and under GAAP, are excluded from Net income.

The following table summarizes the material activity within Other comprehensive income:

	For the three months ended December 31, 2017							For the six months ended December 31, 2017
	Before tax		Tax provision			Net of tax		Before tax		Tax provision			Net of tax
	(in millions)
Gains on securities
Unrealized gains	$	154	$	(58	)	$	96	$	283	$	(106	)	$	177
Other comprehensive income	$	154	$	(58	)	$	96	$	283	$	(106	)	$	177

Accumulated other comprehensive (loss) income

The following table summarizes the changes in the components of Accumulated other comprehensive (loss) income, net of tax:

	For the three months ended December 31, 2018									For the six months ended December 31, 2018
	Unrealized holding gains on securities		Benefit plan adjustments and other				Accumulated other comprehensive (loss) income			Unrealized holding gains on securities				Benefit plan adjustments and other				Accumulated other comprehensive (loss) income
	(in millions)
Balance, beginning of period	$	-	$	(61	)		$	(61	)	$	130			$	(49	)		$	81
Adoption of ASUs		-		-				-			(130	)	(a)		(13	)	(b)		(143	)
Other comprehensive income, net of tax		-		2				2			-				3				3
Transferred from 21CF investment		-		(143	)	(c)		(143	)		-				(143	)	(c)		(143	)
Balance, end of period	$	-	$	(202	)		$	(202	)	$	-			$	(202	)		$	(202	)

^(a) Reflects the adoption of ASU 2016-01 (See Note 1 - Description of Business and Basis of Presentation under the heading “Recently Adopted and Recently Issued Accounting Guidance and U.S. Tax Reform” for additional information).

^(b) Reflects the adoption of ASU 2018-02 (See Note 1 - Description of Business and Basis of Presentation under the heading “Recently Adopted and Recently Issued Accounting Guidance and U.S. Tax Reform” for additional information).

^(c) See Note 10 - Pension and Other Postretirement Benefits.