Fox Corp Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>Fox Corp submitted its Q2 FY24 10-Q, detailing financial positions as of December 31, 2023.</b>

AI Summary

Fox Corp (FOX) filed a Quarterly Report (10-Q) with the SEC on February 7, 2024. Fox Corp filed its 10-Q report for the period ending December 31, 2023. The filing covers the second quarter of fiscal year 2024. Key financial data points for the periods ending December 31, 2023, and December 31, 2022, are included. Information on common stock, additional paid-in capital, retained earnings, and accumulated other comprehensive income is presented. The report details parent and noncontrolling interests as of various dates in 2023 and 2022.

Why It Matters

For investors and stakeholders tracking Fox Corp, this filing contains several important signals. This filing provides investors with the latest financial snapshot of Fox Corp, crucial for understanding its performance and financial health. The detailed breakdown of equity accounts and interests offers insights into the company's capital structure and ownership.

Risk Assessment

Risk Level: low — Fox Corp shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain unusual or high-risk disclosures.

Analyst Insight

Review the detailed financial statements and equity breakdowns to assess Fox Corp's financial performance and capital structure changes.

Key Numbers

• 2023-12-31 — Report Period End Date (Conformed period of report.)
• 2024-02-07 — Filing Date (Date the 10-Q was filed.)
• 06-30 — Fiscal Year End (Fox Corp's fiscal year end.)

Key Players & Entities

• Fox Corp (company) — Filer of the 10-Q report.
• 2023-12-31 (date) — Conformed period of report.
• 2024-02-07 (date) — Filed as of date.
• NEW YORK (location) — Business and mail address city.
• DE (location) — State of incorporation.

Forward-Looking Statements

• Fox Corp's capital structure, specifically the split between Class A and Class B shares, will remain consistent in the near term. (Fox Corp) — high confidence, target: 2024-06-30

FAQ

Industry Context

Fox Corp operates in the television broadcasting industry, a sector characterized by advertising revenue, content production, and distribution.

Regulatory Implications

As a publicly traded company, Fox Corp is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of quarterly 10-Q reports.

What Investors Should Do

1. Analyze the balance sheet details for changes in assets, liabilities, and equity.
2. Examine any disclosures related to common stock transactions or changes in capital structure.
3. Compare the financial data presented with previous filings to identify trends.

Key Dates

• 2023-12-31: Period End Date — Marks the end of the reporting period for the 10-Q.
• 2024-02-07: Filing Date — Date the 10-Q was officially submitted to the SEC.

Year-Over-Year Comparison

This filing represents the quarterly update for the period ending December 31, 2023, following previous filings for earlier periods.

Key Financial Figures

• $0.01 — stered Class A Common Stock, par value $0.01 per share FOXA The Nasdaq Global Select

Filing Documents

• fox-20231231.htm (10-Q) — 1153KB
• foxa-20231231x10qex101.htm (EX-10.1) — 8KB
• foxa-20231231x10qex311.htm (EX-31.1) — 10KB
• foxa-20231231x10qex312.htm (EX-31.2) — 10KB
• foxa-20231231x10qex321.htm (EX-32.1) — 6KB
• imagea.jpg (GRAPHIC) — 6KB
• 0001628280-24-003624.txt (&nbsp;) — 5474KB
• fox-20231231.xsd (EX-101.SCH) — 37KB
• fox-20231231_cal.xml (EX-101.CAL) — 64KB
• fox-20231231_def.xml (EX-101.DEF) — 196KB
• fox-20231231_lab.xml (EX-101.LAB) — 423KB
• fox-20231231_pre.xml (EX-101.PRE) — 300KB
• fox-20231231_htm.xml (XML) — 790KB

Financial Information

Part I. Financial Information Item 1.

Financial Statements

Financial Statements Unaudited Consolidated Statements of Operations for the three and six months ended December 31, 2023 and 2022 1 Unaudited Consolidated Statements of Comprehensive Income for the three and six months ended December 31, 2023 and 2022 2 Consolidated Balance Sheets as of December 31, 2023 (unaudited) and June 30, 2023 (audited) 3 Unaudited Consolidated Statements of Cash Flows for the six months ended December 31, 2023 and 2022 4 Unaudited Consolidated Statements of Equity for the three and six months ended December 31, 2023 and 2022 5 Notes to the Unaudited Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 28 Item 4.

Controls and Procedures

Controls and Procedures 29

Other Information

Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 30 Item 1A.

Risk Factors

Risk Factors 30 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30 Item 3. Defaults Upon Senior Securities 31 Item 4. Mine Safety Disclosures 31 Item 5. Other Information 31 Item 6. Exhibits 31 Signature 32 FOX CORPORATION UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS (IN MILLIONS, EXCEPT PER SHARE AMOUNTS) For the three months ended December 31, For the six months ended December 31, 2023 2022 2023 2022 Revenues $ 4,234 $ 4,605 $ 7,441 $ 7,797 Operating expenses ( 3,393 ) ( 3,528 ) ( 5,255 ) ( 5,184 ) Selling, general and administrative ( 495 ) ( 550 ) ( 975 ) ( 998 ) Depreciation and amortization ( 97 ) ( 103 ) ( 193 ) ( 202 ) Interest expense, net ( 72 ) ( 60 ) ( 114 ) ( 128 ) Other, net ( 46 ) 73 ( 212 ) ( 3 ) Income before income tax expense 131 437 692 1,282 Income tax expense ( 16 ) ( 116 ) ( 162 ) ( 348 ) Net income 115 321 530 934 Less: Net income attributable to noncontrolling interests ( 6 ) ( 8 ) ( 14 ) ( 16 ) Net income attributable to Fox Corporation stockholders $ 109 $ 313 $ 516 $ 918 EARNINGS PER SHARE DATA Weighted average shares: Basic 481 541 487 545 Diluted 482 543 488 547 Net income attributable to Fox Corporation stockholders per share - basic and diluted $ 0.23 $ 0.58 $ 1.06 $ 1.68 The accompanying notes are an integral part of these Unaudited Consolidated Financial Statements. 1 FOX CORPORATION UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (IN MILLIONS) For the three months ended December 31, For the six months ended December 31, 2023 2022 2023 2022 Net income $ 115 $ 321 $ 530 $ 934 Other comprehensive income, net of tax: Benefit plan adjustments and other 5 9 3 7 Other comprehensive income, net of tax 5 9 3 7 Comprehensive income 120 330 533 941 Less: Net income attributable to noncontrolling interests (a) ( 6 ) ( 8 ) ( 14 ) ( 16 ) Comprehensive income attributable to Fox Corporation stockholders $ 114 $ 322 $ 519 $ 925 (a) Net incom

View Full Filing

View this 10-Q filing on SEC EDGAR