Company: FOX
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001628280-25-047354
Chunk: 45

Company: Fox Corp
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 45
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3”).The following tables present information about financial assets and redeemable noncontrolling interests carried at fair value on a recurring basis:Fair value measurements As of September 30, 2025 Total Level 1Level 2Level 3 (in millions) Investments in equity securities$1,118 $1,118 (a)$— $— Redeemable noncontrolling interests(53)— — (53)(b)Total$1,065 $1,118 $— $(53)

7

FOX CORPORATIONNOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

Fair value measurementsAs of June 30, 2025Total Level 1 Level 2Level 3(in millions)Investments in equity securities$1,249 $1,249 (a)$— $— Redeemable noncontrolling interests(261)— — (261)(b)Total$988 $1,249 $— $(261)(a)The investments categorized as Level 1 primarily represent an investment in equity securities of Flutter Entertainment plc (“Flutter”) with a readily determinable fair value.(b)See Note 11—Additional Financial Information. The Company utilizes both the market and income approach valuation techniques for its Level 3 fair value measures. Inputs to such measures could include observable market data obtained from independent sources such as broker quotes and recent market transactions for similar assets. It is the Company’s policy to maximize the use of observable inputs in the measurement of its Level 3 fair value measurements. To the extent observable inputs are not available, the Company utilizes unobservable inputs based upon the assumptions market participants would use in valuing the redeemable noncontrolling interests. Examples of utilized unobservable inputs are future cash flows and long-term growth rates.Financial InstrumentsThe carrying value of the Company’s financial instruments exclusive of borrowings, such as cash and cash equivalents, receivables and payables approximates fair value.The following table sets forth the fair value and carrying value of the Company’s Borrowings:As ofSeptember 30,2025As ofJune 30,2025(in millions)BorrowingsFair value$6,746 $6,625 Carrying value$6,603 $6,602 Fair value is generally determined by reference to market values resulting from trading on a national securities exchange or in an over-the-counter market (a Level 1 measurement).Concentrations of Credit RiskCash