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Income Taxes (Deferred Tax Assets (Liabilities)) (Details) - USD ($)
$ in Millions
Jun. 30, 2020
Jun. 30, 2019
Deferred tax assets    
Basis difference [1] $ 4,176 $ 4,574
Operating lease liabilities 140 0
Pension benefit obligations 93 50
Equity-based compensation 31 17
Accrued liabilities 31 5
Net operating loss carryforwards 28 107
Other 120 68
Total deferred tax assets 4,619 4,821
Deferred tax liabilities    
Operating lease ROU assets (133) 0
Sports rights contracts (110) (164)
Total deferred tax liabilities (243) (164)
Net deferred tax asset before valuation allowance 4,376 4,657
Less: valuation allowance (20) (6)
Total net deferred tax assets [2] $ 4,356 $ 4,651
[1] As a result of the Separation and the Distribution, which was a taxable transaction for which the estimated tax liability of $5.8 billion was included in the Transaction Tax paid by the Company, FOX obtained a tax basis in its assets equal to their respective fair market values. This amount includes the additional estimated deferred tax asset recorded as a result of the increased tax basis (See Note 1—Description of Business and Basis of Presentation under the heading “Basis of Presentation”).
[2] Includes a $2 million deferred tax liability recorded in Other liabilities on the Consolidated Balance Sheet as of June 30, 2020.