Name: Twenty-First Century Fox Inc. (NASDAQ:FOX) | Liabilities and Stockholders’ Equity
Creator: Stock Analysis on Net

Balance Sheet: Liabilities and Stockholders’ Equity

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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Twenty-First Century Fox Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Jun 30, 2018	Jun 30, 2017	Jun 30, 2016	Jun 30, 2015	Jun 30, 2014	Jun 30, 2013
Current borrowings	1,054)	457)	427)	244)	799)	137)
Accrued expenses	2,439)	2,432)	2,476)	—)	—)	—)
Accounts payable	443)	406)	270)	—)	—)	—)
Other current liabilities	366)	613)	435)	3,937)	4,183)	4,434)
Accounts payable, accrued expenses and other current liabilities	3,248)	3,451)	3,181)	3,937)	4,183)	4,434)
Participations, residuals and royalties payable	1,748)	1,657)	1,672)	1,632)	1,546)	1,663)
Program rights payable	1,368)	1,093)	1,283)	1,001)	1,638)	1,524)
Deferred revenue	826)	580)	505)	448)	690)	677)
Current liabilities	8,244)	7,238)	7,068)	7,262)	8,856)	8,435)
Non-current borrowings	18,469)	19,456)	19,298)	18,795)	18,259)	16,321)
Other liabilities	3,664)	3,616)	3,678)	3,105)	3,507)	3,264)
Deferred income taxes	1,892)	2,782)	2,888)	2,082)	2,729)	2,280)
Non-current liabilities	24,025)	25,854)	25,864)	23,982)	24,495)	21,865)
Total liabilities	32,269)	33,092)	32,932)	31,244)	33,351)	30,300)
Redeemable noncontrolling interests	764)	694)	552)	621)	541)	519)
Class A common stock, $0.01 par value per share	11)	11)	11)	12)	14)	15)
Class B common stock, $0.01 par value per share	8)	8)	8)	8)	8)	8)
Additional paid-in capital	12,612)	12,406)	12,211)	13,427)	15,041)	15,840)
Retained earnings	8,934)	5,315)	3,575)	5,343)	2,389)	1,454)
Accumulated other comprehensive loss	(2,001)	(2,018)	(2,144)	(1,570)	(34)	(319)
Total Twenty-First Century Fox, Inc. stockholders’ equity	19,564)	15,722)	13,661)	17,220)	17,418)	16,998)
Noncontrolling interests	1,234)	1,216)	1,220)	966)	3,483)	3,127)
Total equity	20,798)	16,938)	14,881)	18,186)	20,901)	20,125)
Total liabilities and equity	53,831)	50,724)	48,365)	50,051)	54,793)	50,944)

Based on: 10-K (reporting date: 2018-06-30), 10-K (reporting date: 2017-06-30), 10-K (reporting date: 2016-06-30), 10-K (reporting date: 2015-06-30), 10-K (reporting date: 2014-06-30), 10-K (reporting date: 2013-06-30).

The financial position of the entity over the six-year period reflects a stable level of total liabilities coupled with a volatile but ultimately recovering equity base. Total liabilities remained relatively consistent, fluctuating between 30.3 billion and 33.1 billion US dollars, while total equity experienced a significant contraction in 2016 before rebounding to 20.8 billion US dollars by June 30, 2018.

Liability Structure and Debt Trends: Total liabilities exhibited minimal variance over the analyzed period. Non-current borrowings remained the primary driver of the liability profile, peaking at 19.5 billion US dollars in 2017. Current liabilities showed a moderate decline between 2013 and 2016, dropping from 8.4 billion to 7.1 billion US dollars, before rising again to 8.2 billion US dollars in 2018. A notable increase in current borrowings is observed in 2018, reaching 1.05 billion US dollars, the highest level in the six-year sequence.
Current Liability Composition: A shift in reporting granularity occurred in 2016, where accrued expenses began to be disclosed separately. Prior to 2016, these amounts were largely aggregated within other current liabilities. Post-2016, accrued expenses stabilized at approximately 2.4 billion US dollars. Participations, residuals, and royalties payable remained remarkably consistent, averaging approximately 1.6 billion US dollars throughout the period.
Equity and Retained Earnings: The equity profile is characterized by a substantial increase in retained earnings, which grew from 1.45 billion US dollars in 2013 to 8.93 billion US dollars in 2018. This growth suggests a strong capacity for internal capital generation. Conversely, additional paid-in capital showed a general downward trend, decreasing from 15.8 billion US dollars in 2013 to 12.6 billion US dollars in 2018, indicating a potential reduction in contributed capital or share-related adjustments over time.
Comprehensive Loss and Volatility: Accumulated other comprehensive loss expanded significantly, moving from 319 million US dollars in 2013 to a peak loss of 2.1 billion US dollars in 2016. This trend contributed to the reduction in total stockholders' equity during the mid-period. However, the total equity position recovered strongly by 2018, surpassing the initial 2013 levels.
Overall Capitalization Pattern: The relationship between total liabilities and total equity indicates a peak in financial leverage during 2016, coinciding with the lowest total equity point of 14.9 billion US dollars. By 2018, the capitalization structure returned to a state similar to 2013, with total liabilities and equity totaling 53.8 billion US dollars, representing a stabilization of the balance sheet after mid-period volatility.

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