Company: FOX
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001628280-25-024466
Chunk: 76

Company: Fox Corp
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 8
Chunk 76
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, was primarily due to higher Segment EBITDA, principally due to higher political advertising receipts from the 2024 presidential and congressional elections, and lower restructuring payments, partially offset by higher sports and entertainment programming costs and higher tax and legal settlement payments (See Note 14—Commitments and Contingencies to the accompanying Financial Statements).

Net cash used in investing activities for the nine months ended March 31, 2025 and 2024 was as follows (in millions):

For the nine months ended March 31,20252024Net cash used in investing activities$(407)$(324)

The increase in net cash used in investing activities during the nine months ended March 31, 2025, as compared to the corresponding period of fiscal 2024, was primarily due to the fiscal 2025 acquisition (See Note 2—Acquisitions, Disposals, and Other Transactions to the accompanying Financial Statements), partially offset by a decrease in capital expenditures and the Company’s investments.

Net cash used in financing activities for the nine months ended March 31, 2025 and 2024 was as follows (in millions):

For the nine months ended March 31,20252024Net cash used in financing activities$(908)$(1,098)

The decrease in net cash used in financing activities during the nine months ended March 31, 2025, as compared to the corresponding period of fiscal 2024, was primarily due to higher proceeds received from the exercise of employee stock options and the net impact of the October 2023 issuance of $1.25 billion of senior notes and the repayment of $1.25 billion of senior notes that matured in January 2024.

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Stock Repurchase Program

See Note 6—Stockholders’ Equity to the accompanying Financial Statements under the heading “Stock Repurchase Program.”

Dividends

The Company declared a semi-annual dividend of $0.27 per share on both the Class A Common Stock and the Class B Common Stock during the three months ended March 31, 2025, which was paid on March 26, 2025 with a record date for determining dividend entitlements of March 5, 2025. The Company expects to continue to pay semi-annual dividends, although each dividend is subject to approval by the Company’s Board of Directors.

Debt Instruments

Borrowings include senior notes (See Note 5—Borrowings to the accompanying Financial Statements).

Ratings of the Senior Notes

The following table summarizes