Company: FOX
Filing Date: 2025-02-04
Form Type: 10-Q
Source: 0001628280-25-003592
Chunk: 11

Company: Fox Corp
Filing Date: 2025-02-04
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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.01 par value per share, 2,000,000,000 shares authorized, 218,781,620 shares and 225,727,598 shares issued and outstanding at par as of December 31, 2024 and June 30, 2024, respectively.(b)Class B Common Stock, $0.01 par value per share, 1,000,000,000 shares authorized, 235,581,025 shares issued and outstanding at par as of December 31, 2024 and June 30, 2024.

The accompanying notes are an integral part of these Unaudited Consolidated Financial Statements.

3

FOX CORPORATION

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS

(IN MILLIONS)

For the six months ended December 31,20242023OPERATING ACTIVITIESNet income$1,220 $530 Adjustments to reconcile net income to cash used in operating activitiesDepreciation and amortization188 193 Amortization of cable distribution investments8 8 Restructuring, impairment and other corporate matters196 9 Equity-based compensation68 48 Equity earnings of affiliates(7)(2)Cash distributions received from affiliates13 — Non-operating other, net(314)205 Deferred income taxes145 29 Change in operating assets and liabilities, net of acquisitions and dispositionsReceivables and other assets(1,198)(853)Inventories net of programming payable(431)(405)Accounts payable and accrued expenses(75)(180)Other changes, net(17)(117)Net cash used in operating activities(204)(535)INVESTING ACTIVITIESProperty, plant and equipment(138)(150)Purchase of investments(79)(6)Other investing activities, net(23)13 Net cash used in investing activities(240)(143)FINANCING ACTIVITIESBorrowings— 1,232 Repurchase of shares(500)(500)Dividends paid and distributions(134)(142)Other financing activities, net81 (62)Net cash (used in) provided by financing activities(553)528 Net decrease in cash and cash equivalents(997)(150)Cash and cash equivalents, beginning of year4,319 4,272 Cash and cash equivalents, end of period$3,322 $4,122 

The accompanying notes are an integral part of these Unaudited Consolidated Financial Statements.