Company: FOX
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001628280-25-024466
Chunk: 59

Company: Fox Corp
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 59
---
. The segment also includes various production companies that produce content for the Company and third parties.The Credible and the FOX Studio Lot operating segments do not meet the criteria under GAAP to be separately reported as a reportable segment or aggregated with other operating segments, and as such are presented as part of Corporate and Other, which is not a reportable segment. Corporate and Other principally consists of Credible, the FOX Studio Lot and corporate overhead costs. Credible is a U.S. consumer finance marketplace. The FOX Studio Lot, located in Los Angeles, California, provides television and film production services along with office space, studio operation services and includes all operations of the facility.The Company’s operating segments have been determined in accordance with the Company’s internal management structure, which is organized based on operating activities. The Company evaluates performance based upon several factors, of which the primary financial measure is Segment EBITDA (defined below). Due to the integrated nature of these operating segments, estimates and judgments are made in allocating certain assets, revenues and expenses.Segment EBITDA is defined as Revenues less Operating expenses and Selling, general and administrative expenses. Segment EBITDA does not include: Amortization of cable distribution investments, Depreciation and amortization, Restructuring, impairment and other corporate matters, Equity earnings (losses) of affiliates, Interest expense, net, Non-operating other, net and Income tax expense. Management believes that Segment EBITDA is an appropriate measure for evaluating the operating performance of the Company’s operating segments because it is the primary measure used by the Company’s chief operating decision maker to evaluate the performance of and allocate resources to the Company’s businesses.

14

FOX CORPORATIONNOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

The tables below present summarized financial information for each of the Company’s reportable segments and Corporate and Other. For the three months ended March 31,For the nine months ended March 31, 2025202420252024 (in millions) Revenues  Cable Network Programming$1,636 $1,472 $5,398 $4,517 Television2,704 1,938 7,618 6,260 Corporate and Other58 53 181 156 Eliminations(27)(16)(184)(45)Total revenues$4,371 $3,447 $13,013 $10,888 Segment EBITDACable Network Programming$878 $819