Company: FOX
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001628280-25-024466
Chunk: 51

Company: Fox Corp
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 51
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 the Company does not require collateral to secure receivables. As of March 31, 2025, the Company had one individual customer that accounted for approximately 10% of the Company’s receivables. As of June 30, 2024, the Company had no individual customers that accounted for 10% or more of the Company’s receivables.

NOTE 5. BORROWINGS

Borrowings include senior notes (See Note 9—Borrowings in the 2024 Form 10-K under the heading “Public Debt – Senior Notes Issued”). The Company is party to a credit agreement providing a $1.0 billion unsecured revolving credit facility with a sub-limit of $150 million available for the issuance of letters of credit and a maturity date of June 2028 (See Note 9—Borrowings in the 2024 Form 10-K under the heading “Revolving Credit Agreement”). As of March 31, 2025, there were no borrowings outstanding under the revolving credit agreement. Subsequent to March 31, 2025, $600 million of 3.050% senior notes due in April 2025 matured and were repaid in full.

NOTE 6. STOCKHOLDERS’ EQUITY

Stock Repurchase ProgramThe Company’s Board of Directors has authorized a stock repurchase program under which the Company can repurchase $7 billion of Class A Common Stock, par value $0.01 per share (the “Class A Common Stock”), and Class B Common Stock, par value $0.01 per share (the “Class B Common Stock”). The program has no time limit and may be modified, suspended or discontinued at any time.

9

FOX CORPORATIONNOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

In total, the Company repurchased approximately 17 million shares of Class A Common Stock for approximately $750 million during the nine months ended March 31, 2025.Repurchased shares are retired and reduce the number of shares issued and outstanding. The Company allocates the amount of the repurchase price over par value between additional paid-in capital and retained earnings.As of March 31, 2025, the Company’s remaining stock repurchase authorization was approximately $650 million. Subsequent to March 31, 2025, the Company repurchased approximately 1 million shares of Class A Common Stock for approximately $50 million.DividendsThe following table summarizes