Related Party Transactions and Twenty-First Century Fox, Inc. Investment (Tables)

12 Months Ended

Jun. 30, 2021

Related Party Transactions [Abstract]

Schedule of Components of Net (Decrease) Increase in 21CF Investment

The following table summarizes the components of the net decrease in the Twenty-First Century Fox, Inc. investment for fiscal 2019:

	For the year ended June 30, 2019
	(in millions)
Cash pooling, general financing activities and other(a)	$	(1,502	)
Corporate allocations		291
Net dividend paid to Twenty-First Century Fox, Inc.		(6,500	)
Taxes payable(b)		821
Deferred taxes on step-up(c)		5,836
Other deferred taxes(c)		90
Net decrease in Twenty-First Century Fox, Inc. investment	$	(964	)

(a)	The nature of activities included in the line item ‘Cash pooling, general financing activities and other’ includes financing activities, capital transfers, cash sweeps, other treasury services and Direct Corporate Expenses.
(b)	For purposes of the Company’s financial statements for the periods prior to the Distribution, the income tax benefit in the Statements of Operations has been calculated as if FOX filed a separate tax return and was operating as a standalone business. This amount represents the difference between the separate tax return methodology and the actual tax liabilities attributed to the Company, in accordance with applicable tax law, as of the date of the Distribution.
(c)	As a result of the Separation and the Distribution, FOX obtained an additional tax basis in its assets equal to their respective fair market values. These amounts represent 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”) and other deferred tax adjustments recorded as of the date of the Distribution.