Company: FOX
Filing Date: 2025-02-04
Form Type: 10-Q
Source: 0001628280-25-003592
Chunk: 26

Company: Fox Corp
Filing Date: 2025-02-04
Form: 10-Q
Item: Part I, Item 1
Chunk 26
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 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 December 31,For the six months ended December 31, 2024202320242023 (in millions) Revenues  Cable Network Programming$2,165 $1,658 $3,762 $3,045 Television2,961 2,542 4,914 4,322 Corporate and Other58 49 123 103 Eliminations(106)(15)(157)(29)Total revenues$5,078 $4,234 $8,642 $7,441 Segment EBITDACable Network Programming$657 $564 $1,405 $1,171 Television205 (138)577 213 Corporate and Other(81)(76)(153)(165)Amortization of cable distribution investments(4)(4)(8)(8)Depreciation and amortization(97)(97)(188)(193)Restructuring, impairment and other corporate matters(170)(18)(196)(9)Equity earnings of affiliates4 1 7 2 Interest expense, net(80)(72)(130)(114)Non-operating other, net81 (29)314 (205)Income before income tax expense515