Company: FOX
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0001628280-25-047354
Chunk: 57

Company: Fox Corp
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 8
Chunk 57
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(1)2 Accretion and redemption value adjustments — 38 End of period$(81)$(202)Future Performance ObligationsAs of September 30, 2025, approximately $7.2 billion of revenues are expected to be recognized primarily over the next one to three years. The Company’s most significant remaining performance obligations relate to distribution contracts, content licensing contracts with fixed fees and sports advertising contracts. The amount disclosed does not include (i) revenues related to performance obligations that are part of a contract whose original expected duration is one year or less, (ii) revenues that are in the form of sales- or usage-based royalties and (iii) revenues related to performance obligations for which the Company elects to recognize revenue in the amount it has a right to invoice.Supplemental InformationThe following table summarizes supplemental information on the Statements of Cash Flows:For the three months ended September 30, 20252024 (in millions) Supplemental cash flow informationCash paid for interest$(135)$(133)Cash paid for income taxes$(71)$(21)

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ITEM 2.        MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Readers should carefully review this document and the other documents filed by Fox Corporation (“FOX” or the “Company”) with the Securities and Exchange Commission (the “SEC”). This section should be read together with the unaudited interim consolidated financial statements and related notes appearing elsewhere in this Quarterly Report on Form 10-Q and the Annual Report on Form 10-K for the fiscal year ended June 30, (“fiscal”) 2025 as filed with the SEC on August 6, 2025 (the “2025 Form 10-K”). The Unaudited Consolidated Financial Statements are referred to as the “Financial Statements” herein.

INTRODUCTION

Management’s discussion and analysis of financial condition and results of operations is intended to help provide an understanding of the Company’s financial condition, changes in financial condition and results of operations. This discussion is organized as follows:

•Overview of the Company’s Business—This section provides a general description of the Company’s businesses, as well as developments that occurred during the three months ended September 30, 2025 and 2024 that the Company believes are important in understanding its results of operations and financial condition or to disclose known trends.

•Results of Operations—This section provides an analysis of the Company’s results of operations for the three months ended September 30,