What changed in this filing

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Item 1. Financial Statements

2024-05-09 compared with 2024-02-08 · 150 added, 163 removed, 742 unchanged (30% of the section changed)

4 unchanged sentences

For the three months ended

December 31, For the six months ended

March 31, For the nine months ended

Notes 2024 2023 2024 2023

17 unchanged sentences

Net income attributable to News Corporation stockholders $ 30 $ 50 $ 216 $ 157

Net income attributable to News Corporation stockholders per share:

Basic $ 0.27 $ 0.12 $ 0.33 $ 0.18

Diluted $ 0.27 $ 0.12 $ 0.32 $ 0.18

Net income attributable to News Corporation stockholders per share, basic and diluted 8 $ 0.05 $ 0.09 $ 0.38 $ 0.27

The accompanying notes are an integral part of these unaudited consolidated financial statements.

NEWS CORPORATION

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME

For the three months ended

December 31, For the six months ended

March 31, For the nine months ended

2024 2023 2024 2023

Net income $ 42 $ 59 $ 283 $ 219

Other comprehensive income:

Other comprehensive loss:

Foreign currency translation adjustments ( 141 ) ( 33 ) ( 71 ) ( 34 )

2 unchanged sentences

Benefit plan adjustments, net (b)

( 2 ) ( 6 ) 13 6

Other comprehensive income 196 269 65 18

Comprehensive income 379 363 306 178

Other comprehensive loss ( 131 ) ( 41 ) ( 66 ) ( 23 )

Comprehensive (loss) income ( 89 ) 18 217 196

Net income attributable to noncontrolling interests ( 12 ) ( 9 ) ( 67 ) ( 62 )

Other comprehensive income attributable to noncontrolling interests (c)

( 49 ) ( 59 ) ( 18 ) ( 3 )

Comprehensive income attributable to News Corporation stockholders $ 303 $ 277 $ 233 $ 122

(a) Net of income tax expense (benefit) of $( 6 ) million and $( 2 ) million for the three months ended December 31, 2023 and 2022, respectively, and $( 7 ) million and $ 4 million for the six months ended December 31, 2023 and 2022, respectively.

(b) Net of income tax expense (benefit) of $( 1 ) million and ($ 3 ) million for the three months ended December 31, 2023 and 2022, respectively, and $ 4 million and $ 1 million for the six months ended December 31, 2023 and 2022, respectively.

Other comprehensive loss attributable to noncontrolling interests (c)

Comprehensive (loss) income attributable to News Corporation stockholders $ ( 62 ) $ 26 $ 171 $ 148

(a) Net of income tax expense (benefit) of $ 2 million and $( 2 ) million for the three months ended March 31, 2024 and 2023, respectively, and $( 5 ) million and $ 2 million for the nine months ended March 31, 2024 and 2023, respectively.

(b) Net of income tax expense of $ 2 million for the three months ended March 31, 2024 and $ 6 million and $ 1 million for the nine months ended March 31, 2024 and 2023, respectively.

3 unchanged sentences

(Millions, except share and per share amounts)

December 31, 2023 As of

March 31, 2024 As of

June 30, 2023

39 unchanged sentences

Total liabilities and equity $ 16,544 $ 16,921

(a) Class A common stock , $ 0.01 par value per share (“Class A Common Stock”), 1,500,000,000 shares authorized, 380,210,295 and 379,945,907 shares issued and outstanding, net of 27,368,413 treasury shares at par, at December 31, 2023 and June 30, 2023, respectively.

(b) Class B common stock , $ 0.01 par value per share (“Class B Common Stock”), 750,000,000 shares authorized, 191,177,032 and 192,013,909 shares issued and outstanding, net of 78,430,424 treasury shares at par, at December 31, 2023 and June 30, 2023, respectively.

(a) Class A common stock , $ 0.01 par value per share (“Class A Common Stock”), 1,500,000,000 shares authorized, 379,582,130 and 379,945,907 shares issued and outstanding, net of 27,368,413 treasury shares at par, at March 31, 2024 and June 30, 2023, respectively.

(b) Class B common stock , $ 0.01 par value per share (“Class B Common Stock”), 750,000,000 shares authorized, 190,867,055 and 192,013,909 shares issued and outstanding, net of 78,430,424 treasury shares at par, at March 31, 2024 and June 30, 2023, respectively.

The accompanying notes are an integral part of these unaudited consolidated financial statements.

1 unchanged sentence

CONSOLIDATED STATEMENTS OF CASH FLOWS

For the six months ended

For the nine months ended

Notes 2024 2023

32 unchanged sentences

Effect of exchange rate changes on cash and cash equivalents

( 13 ) ( 11 )

Cash and cash equivalents, end of period $ 1,943 $ 1,659

19 unchanged sentences

Fiscal 2024 and fiscal 2023 include 52 weeks.

All references to the three and six months ended December 31, 2023 and 2022 relate to the three and six months ended December 31, 2023 and January 1, 2023, respectively.

For convenience purposes, the Company continues to date its Consolidated Financial Statements as of December 31.

All references to the three and nine months ended March 31, 2024 and 2023 relate to the three and nine months ended March 31, 2024 and April 2, 2023, respectively.

For convenience purposes, the Company continues to date its Consolidated Financial Statements as of March 31.

Recently Issued Accounting Pronouncements

12 unchanged sentences

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

The following tables present the Company’s disaggregated revenues by type and segment for the three and six months ended December 31, 2023 and 2022:

For the three months ended December 31, 2023

The following tables present the Company’s disaggregated revenues by type and segment for the three and nine months ended March 31, 2024 and 2023:

For the three months ended March 31, 2024

Services Subscription

8 unchanged sentences

Total Revenues $ 388 $ 455 $ 544 $ 506 $ 530 $ — $ 2,423

For the three months ended December 31, 2022

For the three months ended March 31, 2023

Services Subscription

8 unchanged sentences

Total Revenues $ 363 $ 477 $ 529 $ 515 $ 563 $ — $ 2,447

For the six months ended December 31, 2023

For the nine months ended March 31, 2024

Services Subscription

10 unchanged sentences

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

For the six months ended December 31, 2022

For the nine months ended March 31, 2023

Services Subscription

10 unchanged sentences

The Company’s deferred revenue balance primarily relates to amounts received from customers for subscriptions paid in advance of the services being provided.

The following table presents changes in the deferred revenue balance for the three and six months ended December 31, 2023 and 2022:

The following table presents changes in the deferred revenue balance for the three and nine months ended March 31, 2024 and 2023:

For the three months ended

December 31, For the six months ended

March 31, For the nine months ended

2024 2023 2024 2023

6 unchanged sentences

Balance, end of period $ 549 $ 623 $ 549 $ 623

(a) For the three and six months ended December 31, 2023, the Company recognized $ 330 million and $ 499 million, respectively, of revenue which was included in the opening deferred revenue balance.

For the three and six months ended December 31, 2022, the Company recognized $ 320 million and $ 490 million, respectively, of revenue which was included in the opening deferred revenue balance.

Contract assets were immaterial for disclosure as of December 31, 2023 and 2022.

(a) For the three and nine months ended March 31, 2024, the Company recognized $ 211 million and $ 564 million, respectively, of revenue which was included in the opening deferred revenue balance.

For the three and nine months ended March 31, 2023, the Company recognized $ 340 million and $ 540 million, respectively, of revenue which was included in the opening deferred revenue balance.

Contract assets were immaterial for disclosure as of March 31, 2024 and 2023.

Other revenue disclosures

The Company typically expenses sales commissions to obtain a customer contract as incurred as the amortization period is 12 months or less.

The Company typically expenses sales commissions to obtain a customer contract as incurred as the amortization period is twelve months or less.

These costs are recorded within Selling, general and administrative in the Statements of Operations.

The Company also does not capitalize significant financing components when the transfer of the good or service is paid within 12 months or less, or consideration is received within 12 months or less of the transfer of the good or service.

For the three and six months ended December 31, 2023, the Company recognized approximately $ 106 million and $ 210 million, respectively, in revenues related to performance obligations that were satisfied or partially satisfied in a prior reporting period.

The remaining transaction price related to unsatisfied performance obligations as of December 31, 2023 was approximately $ 1,240 million, of which approximately $ 263 million is expected to be recognized over the remainder of fiscal 2024, approximately $ 372 million is expected to be recognized in fiscal 2025 and approximately $ 212 million is expected to be recognized in fiscal 2026, with the remainder to be recognized thereafter.

The Company also does not capitalize significant financing components when the transfer of the good or service is paid within twelve months or less, or consideration is received within twelve months or less of the transfer of the good or service.

For the three and nine months ended March 31, 2024, the Company recognized approximately $ 116 million and $ 326 million, respectively, in revenues related to performance obligations that were satisfied or partially satisfied in a prior reporting period.

The remaining transaction price related to unsatisfied performance obligations as of March 31, 2024 was approximately $ 1,174 million, of which approximately $ 137 million is expected to be recognized over the remainder of fiscal 2024, approximately $ 405 million is expected to be recognized in fiscal 2025 and approximately $ 233 million is expected to be recognized in fiscal 2026, with the remainder to be recognized thereafter.

These amounts do not include (i) contracts with an expected duration of one year or less, (ii) contracts for which variable consideration is determined based on the customer’s subsequent sale or usage and (iii) variable consideration allocated to performance obligations accounted for under the series guidance that meets the allocation objective under Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers .

3 unchanged sentences

Fiscal 2024 Impairment

During the three and six months ended December 31, 2023, the Company recognized non-cash impairment charges of $ 1 million and $ 22 million, respectively, at the News Media segment related to the write-down of fixed assets associated with the proposed combination of certain United Kingdom (“U.K.”) printing operations with those of a third party.

During the nine months ended March 31, 2024, the Company recognized non-cash impairment charges of $ 22 million at the News Media segment related to the write-down of fixed assets associated with the combination of certain United Kingdom (“U.K.”) printing operations with those of a third party.

Fiscal 2024 Restructuring

During the three and six months ended December 31, 2023, the Company recorded restructuring charges of $ 10 million and $ 27 million, respectively, related to employee termination benefits.

The employee termination benefits recorded in fiscal 2024 resulted from actions taken by the Company’s businesses in response to the 5 % headcount reduction initiative announced in February 2023.

During the three and nine months ended March 31, 2024, the Company recorded restructuring charges of $ 35 million and $ 62 million, respectively, related to employee termination benefits.

The employee termination benefits recorded in the first half of fiscal 2024 resulted from actions taken by the Company’s businesses in response to the headcount reduction initiative announced in February 2023.

Fiscal 2023 Restructuring

During the three and six months ended December 31, 2022, the Company recorded restructuring charges of $ 19 million and $ 40 million, respectively.

The restructuring charges recorded in fiscal 2023 primarily related to employee termination benefits.

During the three and nine months ended March 31, 2023, the Company recorded restructuring charges of $ 25 million and $ 65 million, respectively, primarily related to employee termination benefits.

The employee termination benefits recorded in the three months ended March 31, 2023 mainly resulted from actions taken by the Company’s businesses in response to the headcount reduction initiative announced in February 2023.

Changes in restructuring program liabilities were as follows:

For the three months ended December 31,

For the three months ended March 31,

benefits Other costs Total One time

6 unchanged sentences

Balance, end of period $ 32 $ 38 $ 70 $ 27 $ 38 $ 65

For the six months ended December 31,

For the nine months ended March 31,

benefits Other costs Total One time

6 unchanged sentences

Balance, end of period $ 32 $ 38 $ 70 $ 27 $ 38 $ 65

As of December 31, 2023, restructuring liabilities of approximately $ 35 million were included in the Balance Sheet in Other current liabilities and $ 27 million were included in Other non-current liabilities.

As of March 31, 2024, restructuring liabilities of approximately $ 43 million and $ 27 million were included in the Balance Sheet in Other current liabilities and Other non-current liabilities, respectively.

NEWS CORPORATION

1 unchanged sentence

The Company’s investments were comprised of the following:

Ownership Percentage as of December 31, 2023 As of

December 31, 2023 As of

Ownership Percentage as of March 31, 2024 As of

March 31, 2024 As of

June 30, 2023

13 unchanged sentences

For the three months ended

December 31, For the six months ended

March 31, For the nine months ended

2024 2023 2024 2023

(in millions) (in millions)

Total gains (losses) recognized on equity securities $ 13 $ ( 11 ) $ ( 10 ) $ ( 14 )

Total losses recognized on equity securities $ ( 1 ) $ ( 2 ) $ ( 11 ) $ ( 16 )

Net gains recognized on equity securities sold — — — 2

Unrealized gains (losses) recognized on equity securities held at end of period $ 13 $ ( 13 ) $ ( 10 ) $ ( 16 )

Unrealized losses recognized on equity securities held at end of period $ ( 1 ) $ ( 2 ) $ ( 11 ) $ ( 18 )

Equity Losses of Affiliates

The Company’s share of the losses of its equity affiliates was $ 1 million and $ 3 million for the three and six months ended December 31, 2023, respectively, and $ 29 million and $ 33 million for the corresponding periods of fiscal 2023, respectively.

The Company’s share of the losses of its equity affiliates was $ 2 million and $ 5 million for the three and nine months ended March 31, 2024, respectively, and $ 10 million and $ 43 million for the corresponding periods of fiscal 2023, respectively.

The decrease was primarily due to the absence of losses from an investment in an Australian sports wagering venture in the prior year.

2 unchanged sentences

The Company’s total borrowings consist of the following:

Interest rate at December 31, 2023 Maturity at December 31, 2023 As of

December 31, 2023 As of

Interest rate at March 31, 2024 Maturity at March 31, 2024 As of

March 31, 2024 As of

June 30, 2023

32 unchanged sentences

— % Sep 16, 2025 — —

Finance Leases

Finance lease liability 25 42

5 unchanged sentences

(a) The Company entered into an interest rate swap derivative to fix the floating rate interest component of its Term A Loans at 2.083 %.

For the three months ended December 31, 2023 the Company was paying interest at an effective interest rate of 3.583 %.

For the three months ended March 31, 2024 the Company was paying interest at an effective interest rate of 3.583 %.

See Note 7—Financial Instruments and Fair Value Measurements.

(b) These borrowings were incurred by certain subsidiaries of NXE Australia Pty Limited (the “Foxtel Group” and together with such subsidiaries, the “Foxtel Debt Group”) and REA Group and certain of its subsidiaries (REA Group and certain of its subsidiaries, the “REA Debt Group”), consolidated but non wholly-owned subsidiaries of News Corp, and are only guaranteed by the Foxtel Group and REA Group and their respective subsidiaries, as applicable, and are non-recourse to News Corp.

(c) As of December 31, 2023, the Foxtel Debt Group had total undrawn commitments of A$ 255 million available under these facilities.

(c) As of March 31, 2024, the Foxtel Debt Group had total undrawn commitments of A$ 280 million available under these facilities.

(d) The Company entered into A$ 610 million of interest rate swap derivatives to fix the floating rate interest components of tranche 1 and tranche 3 of its 2024 Foxtel Credit Facility (described below) at approximately 4.30 %.

For the three months ended December 31, 2023 the Company was paying interest at an effective interest rate of 7.20 % and 7.30 % for tranche 1 and tranche 3, respectively.

For the three months ended March 31, 2024, the Company was paying interest at an effective interest rate of 7.19 % and 7.30 % for tranche 1 and tranche 3, respectively.

See Note 7—Financial Instruments and Fair Value Measurements.

(e) The Company entered into a cross-currency interest rate swap derivative to fix the floating rate interest component of tranche 2 of its 2024 Foxtel Credit Facility at 4.38 %.

For the three months ended December 31, 2023 the Company was paying interest at an effective interest rate of 7.64 %.

For the three months ended March 31, 2024, the Company was paying interest at an effective interest rate of 7.64 %.

See Note 7—Financial Instruments and Fair Value Measurements.

(f) These borrowings were repaid during the six months ended December 31, 2023 using proceeds from the 2024 Foxtel Credit Facility and 2024 REA Credit Facility (described below), as applicable.

(g) As of December 31, 2023, REA Group had total undrawn commitments of A$ 285 million available under these facilities.

(f) These borrowings were repaid during the nine months ended March 31, 2024 using proceeds from the 2024 Foxtel Credit Facility and 2024 REA Credit Facility (described below), as applicable.

(g) As of March 31, 2024, REA Group had total undrawn commitments of A$ 400 million available under these facilities.

(h) The Company classifies the current portion of long term debt as non-current liabilities on the Balance Sheets when it has the intent and ability to refinance the obligation on a long-term basis, in accordance with ASC 470-50, Debt .

$ 25 million and $ 27 million relates to the current portion of finance lease liabilities as of December 31, 2023 and June 30, 2023, respectively, with the remainder as of December 31, 2023 consisting of required principal repayments on the 2022 Term Loan A and 2024 Foxtel Credit Facility — tranches 2 and 3.

$ 24 million and $ 27 million relates to the current portion of finance lease liabilities as of March 31, 2024 and June 30, 2023, respectively, with the remainder as of March 31, 2024 consisting of required principal repayments on the 2022 Term Loan A and 2024 Foxtel Credit Facility — tranches 2 and 3.

NEWS CORPORATION

1 unchanged sentence

Foxtel Group Debt Refinancing

During the six months ended December 31, 2023, the Foxtel Group refinanced its A$ 610 million 2019 revolving credit facility, A$ 250 million term loan facility and tranche 3 of its 2012 U.S.

During the nine months ended March 31, 2024, the Foxtel Group refinanced its A$ 610 million 2019 revolving credit facility, A$ 250 million term loan facility and tranche 3 of its 2012 U.S.

private placement senior unsecured notes with the proceeds of a new A$ 1.2 billion syndicated credit facility (the “2024 Foxtel Credit Facility”).

7 unchanged sentences

Tranches 2 and 3 of the 2024 Foxtel Credit Facility amortize on a proportionate basis in an aggregate annual amount equal to A$ 35 million in each of the first two years following closing and A$ 40 million in each of the two years thereafter.

The agreements governing the Foxtel Debt Group’s external borrowings contain customary affirmative and negative covenants and events of default, with customary exceptions, including specified financial and non-financial covenants calculated in accordance with Australian International Financial Reporting Standards.

Subject to certain exceptions, these covenants restrict or prohibit members of the Foxtel Debt Group from, among other things, undertaking certain transactions, disposing of certain properties or assets (including subsidiary stock), merging or consolidating with any other person, making financial accommodation available, giving guarantees, entering into certain other financing arrangements, creating or permitting certain liens, engaging in transactions with affiliates, making repayments of certain other loans and undergoing fundamental business changes.

In addition, the agreements require the Foxtel Debt Group to maintain a ratio of net debt to Earnings Before Interest, Tax, Depreciation and Amortization (“EBITDA”), as adjusted under the applicable agreements, of not more than 3.25 to 1.0.

The agreements governing the Foxtel Debt Group’s external borrowings contain customary affirmative and negative covenants and events of default, with customary exceptions, including specified non-financial covenants and financial covenants calculated in accordance with Australian International Financial Reporting Standards.

In addition, the agreements require the Foxtel Debt Group to maintain a ratio of net debt to Earnings Before Interest, Tax, Depreciation and Amortization, as adjusted under the applicable agreements, of not more than 3.25 to 1.0.

The agreements also require the Foxtel Debt Group to maintain a net interest coverage ratio of not less than 3.5 to 1.0.

2 unchanged sentences

REA Group Debt Refinancing

During the six months ended December 31, 2023, REA Group entered into a new unsecured syndicated credit facility (the “2024 REA Credit Facility”) which replaces the 2022 Credit Facility and consists of two sub-facilities:

During the nine months ended March 31, 2024, REA Group entered into a new unsecured syndicated credit facility (the “2024 REA Credit Facility”) which replaced the 2022 Credit Facility and consists of two sub-facilities:

(i) a five-year A$ 400 million revolving loan facility (the “2024 REA Credit Facility—tranche 1”) which was used to refinance tranche 1 of the 2022 Credit Facility and (ii) an A$ 200 million revolving loan facility representing the continuation of tranche 2 of the 2022 Credit Facility (the “2024 REA Credit Facility—tranche 2”).

9 unchanged sentences

Subsidiary Financing

During the six months ended December 31, 2023, REA Group entered into an A$ 83 million unsecured bilateral revolving credit facility (the “2024 Subsidiary Facility”).

Proceeds of the 2024 Subsidiary Facility will be used to refinance an existing facility at one of its subsidiaries and to fund its business of providing short-term financing to real estate agents and vendors.

During the nine months ended March 31, 2024, REA Group entered into an A$ 83 million unsecured bilateral revolving credit facility (the “2024 Subsidiary Facility”).

Proceeds of the 2024 Subsidiary Facility were used to refinance an existing facility at one of its subsidiaries and to fund its business of providing short-term financing to real estate agents and vendors.

Borrowings under the 2024 Subsidiary Facility accrue interest at a rate of the Australian BBSY plus a margin of 1.40 % and undrawn balances carry a commitment fee of 40 % of the applicable margin.

3 unchanged sentences

If any of the events of default occur and are not cured within applicable grace periods or waived, any unpaid amounts under the applicable debt agreements may be declared immediately due and payable.

The Company was in compliance with all such covenants at December 31, 2023.

The following tables summarize changes in equity for the three and six months ended December 31, 2023 and 2022:

For the three months ended December 31, 2023

The Company was in compliance with all such covenants at March 31, 2024.

The following tables summarize changes in equity for the three and nine months ended March 31, 2024 and 2023:

For the three months ended March 31, 2024

Class A Common

8 unchanged sentences

(in millions)

Balance, September 30, 2023 381 $ 4 192 $ 2 $ 11,347 $ ( 2,114 ) $ ( 1,347 ) $ 7,892 $ 844 $ 8,736

Balance, December 31, 2023 380 $ 4 191 $ 2 $ 11,334 $ ( 1,958 ) $ ( 1,200 ) $ 8,182 $ 920 $ 9,102

Net income — — — — — 30 — 30 12 42

Other comprehensive income — — — — — — 147 147 49 196

Other comprehensive loss — — — — — — ( 92 ) ( 92 ) ( 39 ) ( 131 )

Dividends — — — — ( 57 ) — — ( 57 ) ( 29 ) ( 86 )

1 unchanged sentence

Other 1 — 1 — 15 — — 15 ( 7 ) 8

Balance, December 31, 2023 380 $ 4 191 $ 2 $ 11,334 $ ( 1,958 ) $ ( 1,200 ) $ 8,182 $ 920 $ 9,102

For the three months ended December 31, 2022

Balance, March 31, 2024 380 $ 4 191 $ 2 $ 11,270 $ ( 1,933 ) $ ( 1,292 ) $ 8,051 $ 857 $ 8,908

For the three months ended March 31, 2023

Class A Common

8 unchanged sentences

(in millions)

Balance, September 30, 2022 384 $ 4 194 $ 2 $ 11,584 $ ( 2,253 ) $ ( 1,465 ) $ 7,872 $ 856 $ 8,728

Balance, December 31, 2022 382 $ 4 193 $ 2 $ 11,550 $ ( 2,186 ) $ ( 1,255 ) $ 8,115 $ 941 $ 9,056

Net income — — — — — 50 — 50 9 59

Other comprehensive income — — — — — — 210 210 59 269

Other comprehensive loss — — — — — — ( 24 ) ( 24 ) ( 17 ) ( 41 )

Dividends — — — — ( 58 ) — — ( 58 ) ( 27 ) ( 85 )

1 unchanged sentence

Other 1 — — — 14 — — 14 1 15

Balance, December 31, 2022 382 $ 4 193 $ 2 $ 11,550 $ ( 2,186 ) $ ( 1,255 ) $ 8,115 $ 941 $ 9,056

Balance, March 31, 2023 382 $ 4 193 $ 2 $ 11,486 $ ( 2,136 ) $ ( 1,279 ) $ 8,077 $ 907 $ 8,984

NEWS CORPORATION

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

For the six months ended December 31, 2023

For the nine months ended March 31, 2024

Class A Common

10 unchanged sentences

Net income — — — — — 216 — 216 67 283

Other comprehensive income — — — — — — 47 47 18 65

Other comprehensive loss — — — — — — ( 45 ) ( 45 ) ( 21 ) ( 66 )

Dividends — — — — ( 114 ) — — ( 114 ) ( 57 ) ( 171 )

1 unchanged sentence

Other 3 — — — 12 — — 12 ( 13 ) ( 1 )

Balance, December 31, 2023 380 $ 4 191 $ 2 $ 11,334 $ ( 1,958 ) $ ( 1,200 ) $ 8,182 $ 920 $ 9,102

For the six months ended December 31, 2022

Balance, March 31, 2024 380 $ 4 191 $ 2 $ 11,270 $ ( 1,933 ) $ ( 1,292 ) $ 8,051 $ 857 $ 8,908

For the nine months ended March 31, 2023

Common Stock Class B

9 unchanged sentences

Net income — — — — — 157 — 157 62 219

Other comprehensive income — — — — — — 15 15 3 18

Other comprehensive loss — — — — — — ( 9 ) ( 9 ) ( 14 ) ( 23 )

Dividends — — — — ( 116 ) — — ( 116 ) ( 58 ) ( 174 )

1 unchanged sentence

Other 2 — — — 17 — — 17 ( 4 ) 13

Balance, December 31, 2022 382 $ 4 193 $ 2 $ 11,550 $ ( 2,186 ) $ ( 1,255 ) $ 8,115 $ 941 $ 9,056

Balance, March 31, 2023 382 $ 4 193 $ 2 $ 11,486 $ ( 2,136 ) $ ( 1,279 ) $ 8,077 $ 907 $ 8,984

Stock Repurchases

2 unchanged sentences

The Repurchase Program has no time limit and may be modified, suspended or discontinued at any time.

As of December 31, 2023, the remaining authorized amount under the Repurchase Program was approximately $ 522 million.

During the three and six months ended December 31, 2023, the Company repurchased and subsequently retired 0.8 million and 1.8 million shares, respectively, of Class A Common Stock for approximately $ 18 million and $ 38 million, respectively, and 0.4 million and 0.8 million shares, respectively, of Class B Common Stock for approximately $ 8 million and $ 17 million, respectively.

During the three and six months ended December 31, 2022, the Company repurchased and subsequently retired 1.9 million and 6.9 million shares, respectively, of Class A Common Stock for approximately $ 31 million and $ 115 million, respectively, and 1.0 million and 3.5 million shares, respectively, of Class B Common Stock for approximately $ 16 million and $ 59 million, respectively.

As of March 31, 2024, the remaining authorized amount under the Repurchase Program was approximately $ 495 million.

During the three and nine months ended March 31, 2024, the Company repurchased and subsequently retired 0.7 million and 2.5 million shares, respectively, of Class A Common Stock for approximately $ 18 million and $ 56 million, respectively, and 0.3 million and 1.1 million shares, respectively, of Class B Common Stock for approximately $ 9 million and $ 26 million, respectively.

During the three and nine months ended March 31, 2023, the Company repurchased and subsequently retired 0.8 million and 7.7 million shares, respectively, of Class A Common Stock for approximately $ 14 million and $ 129 million, respectively, and 0.4 million and 3.9 million shares, respectively, of Class B Common Stock for approximately $ 6 million and $ 65 million, respectively.

NEWS CORPORATION

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

In August 2023, the Board of Directors declared a semi-annual cash dividend of $ 0.10 per share for Class A Common Stock and Class B Common Stock.

The dividend was paid on October 11, 2023 to stockholders of record as of September 13, 2023.

In February 2024, the Board of Directors declared a semi-annual cash dividend of $ 0.10 per share for Class A Common Stock and Class B Common Stock.

The dividend was paid on April 10, 2024 to stockholders of record as of March 13, 2024.

The timing, declaration, amount and payment of future dividends to stockholders, if any, is within the discretion of the Board of Directors.

8 unchanged sentences

Under ASC 820, certain assets and liabilities are required to be remeasured to fair value at the end of each reporting period.

NEWS CORPORATION

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

The following table summarizes those assets and liabilities measured at fair value on a recurring basis:

As of December 31, 2023 As of June 30, 2023

As of March 31, 2024 As of June 30, 2023

Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total

9 unchanged sentences

Interest rate derivatives - cash flow hedges $ — $ ( 4 ) $ — $ ( 4 ) $ — $ — $ — $ —

Foreign currency derivatives - cash flow hedges $ — $ ( 1 ) $ — $ ( 1 ) $ — $ — $ — $ —

Cross-currency interest rate derivatives - fair value hedges — — — — — ( 1 ) — ( 1 )

5 unchanged sentences

Hedge accounting for these derivatives was discontinued as of December 31, 2020.

NEWS CORPORATION

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

Equity and other securities

4 unchanged sentences

A rollforward of the Company’s equity and other securities classified as Level 3 is as follows:

For the six months ended

For the nine months ended

(in millions)

6 unchanged sentences

Balance - end of period $ 132 $ 130

(a) The additions for the six months ended December 31, 2022 primarily relate to Dow Jones’ investment in an artificial intelligence-focused data analytics company.

NEWS CORPORATION

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

(a) The additions for the nine months ended March 31, 2023 primarily relate to Dow Jones’ investment in an artificial intelligence-focused data analytics company.

Derivative Instruments

6 unchanged sentences

arising from fixed and floating rate Foxtel Debt Group and News Corporation borrowings.

During the six months ended December 31, 2023, in connection with the 2024 Foxtel Credit Facility, the Company entered into (i) a cross-currency interest rate swap derivative with a notional amount of $ 49 million to exchange the U.S.

During the nine months ended March 31, 2024, in connection with the 2024 Foxtel Credit Facility, the Company entered into (i) a cross-currency interest rate swap derivative with a notional amount of $ 49 million to exchange the U.S.

dollar-denominated floating rate interest component of its 2024 Foxtel Credit Facility — Tranche 2 for an Australian dollar-denominated fixed rate of 4.375 % and (ii) interest rate swap derivatives with notional amounts totaling A$ 610 million to exchange the floating rate interest component of the remaining tranches to fixed rates ranging from 4.248 % to 4.338 %.

These cross-currency interest rate swap and interest rate swap derivatives are accounted for as cash flow hedges under ASC 815, Derivatives and Hedging.

During the six months ended December 31, 2023, the Company settled its hedges and derivatives related to the 2019 Credit facility and the 2012 U.S.

During the nine months ended March 31, 2024, the Company settled its hedges and derivatives related to the 2019 Credit facility and the 2012 U.S.

private placement - USD portion - tranche 3.

2 unchanged sentences

The Company does not use derivative financial instruments for trading or speculative purposes.

NEWS CORPORATION

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

Derivatives are classified as current or non-current in the Balance Sheets based on their maturity dates.

1 unchanged sentence

Balance Sheet Classification

December 31, 2023 As of

March 31, 2024 As of

June 30, 2023

12 unchanged sentences

Other non-current assets — 36

Foreign currency derivatives - cash flow hedges

Other current liabilities ( 1 ) —

Cross-currency interest rate derivatives - fair value hedges

8 unchanged sentences

Hedge accounting for these derivatives was discontinued as of December 31, 2020.

NEWS CORPORATION

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

Cash flow hedges

The Company utilizes a combination of interest rate derivatives, foreign currency derivatives and cross-currency interest rate derivatives to mitigate currency exchange rate risk and interest rate risk in relation to future interest and principal payments and payments for customer premise equipment, certain programming rights, product development costs and inventory purchases.

The total notional value of interest rate swap derivatives designated for hedging was approximately $ 491 million and A$ 610 million as of December 31, 2023 for News Corporation and Foxtel Debt Group borrowings, respectively.

The total notional value of interest rate swap derivatives designated for hedging was approximately $ 488 million and A$ 610 million as of March 31, 2024 for News Corporation and Foxtel Debt Group borrowings, respectively.

The maximum hedged term over which the Company is hedging exposure to variability in interest payments is to July 2027.

As of December 31, 2023, the Company estimates that approximately $ 13 million of net derivative gains related to its interest rate swap derivative cash flow hedges included in Accumulated other comprehensive loss will be reclassified into the Statements of Operations within the next 12 months.

The total notional value of foreign currency contract derivatives designated for hedging was $ 63 million as of December 31, 2023.

As of March 31, 2024, the Company estimates that approximately $ 14 million of net derivative gains related to its interest rate swap derivative cash flow hedges included in Accumulated other comprehensive loss will be reclassified into the Statements of Operations within the next twelve months.

The total notional value of foreign currency contract derivatives designated for hedging was $ 40 million as of March 31, 2024.

The maximum hedged term over which the Company is hedging exposure to foreign currency fluctuations is less than one year .

As of December 31, 2023, the Company estimates that approximately $ 1 million of net derivative losses related to its foreign currency contract derivative cash flow hedges included in Accumulated other comprehensive loss will be reclassified into the Statements of Operations within the next 12 months.

The total notional value of cross-currency interest rate swap derivatives designated for hedging was approximately $ 49 million as of December 31, 2023.

As of March 31, 2024, the Company estimates that approximately $ 1 million of net derivative losses related to its foreign currency contract derivative cash flow hedges included in Accumulated other comprehensive loss will be reclassified into the Statements of Operations within the next twelve months.

The total notional value of cross-currency interest rate swap derivatives designated for hedging was approximately $ 49 million as of March 31, 2024.

The maximum hedged term over which the Company is hedging exposure to variability in interest and principal payments is to July 2027.

As of December 31, 2023, the Company estimates that approximately nil of net derivative gains related to its cross-currency interest rate swap derivative cash flow hedges included in Accumulated other comprehensive loss will be reclassified into the Statements of Operations within the next 12 months.

The following tables present the impact that changes in the fair values had on Accumulated other comprehensive loss and the Statements of Operations during the three and six months ended December 31, 2023 and 2022 for both derivatives designated as cash flow hedges that continue to be highly effective and derivatives initially designated as cash flow hedges but for which hedge accounting was discontinued as of December 31, 2020:

Gains (losses) recognized in Accumulated other comprehensive loss for the three and six months ended December 31, 2023 and 2022, by derivative instrument:

As of March 31, 2024, the Company estimates that approximately nil of net derivative gains related to its cross-currency interest rate swap derivative cash flow hedges included in Accumulated other comprehensive loss will be reclassified into the Statements of Operations within the next twelve months.

NEWS CORPORATION

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

The following tables present the impact that changes in the fair values had on Accumulated other comprehensive loss and the Statements of Operations during the three and nine months ended March 31, 2024 and 2023 for both derivatives designated as cash flow hedges that continue to be highly effective and derivatives initially designated as cash flow hedges but for which hedge accounting was discontinued as of December 31, 2020:

Gains (losses) recognized in Accumulated other comprehensive loss for the three and nine months ended March 31, 2024 and 2023, by derivative instrument:

For the three months ended

December 31, For the six months ended

March 31, For the nine months ended

2024 2023 2024 2023

4 unchanged sentences

Total $ 14 $ ( 6 ) $ 4 $ 14

NEWS CORPORATION

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

(Gains) losses reclassified from Accumulated other comprehensive loss into the Statements of Operations for the three and six months ended December 31, 2023 and 2022, by derivative instrument:

(Gains) losses reclassified from Accumulated other comprehensive loss into the Statements of Operations for the three and nine months ended March 31, 2024 and 2023, by derivative instrument:

Income Statement

1 unchanged sentence

For the three months ended

December 31, For the six months ended

March 31, For the nine months ended

2024 2023 2024 2023

9 unchanged sentences

Hedge accounting for these derivatives was discontinued as of December 31, 2020.

The amounts recognized in Other, net in the Statements of Operations resulting from the changes in fair value of cross-currency interest rate derivatives that were discontinued as cash flow hedges due to hedge ineffectiveness as of December 31, 2020 was a gain of approximately nil and $ 3 million for the three and six months ended December 31, 2023, respectively, and a loss of approximately $ 1 million and a gain of approximately $ 2 million for the three and six months ended December 31, 2022, respectively.

The amounts recognized in Other, net in the Statements of Operations resulting from the changes in fair value of cross-currency interest rate derivatives that were discontinued as cash flow hedges due to hedge ineffectiveness as of December 31, 2020 was a gain of approximately $ 3 million for the nine months ended March 31, 2024 and a gain of approximately $ 1 million and $ 3 million for the three and nine months ended March 31, 2023, respectively.

Other Fair Value Measurements

As of December 31, 2023, the carrying value of the Company’s outstanding borrowings approximates the fair value.

As of March 31, 2024, the carrying value of the Company’s outstanding borrowings approximates the fair value.

The 2022 Senior Notes and the 2021 Senior Notes are classified as Level 2 and the remaining borrowings are classified as Level 3 in the fair value hierarchy.

NEWS CORPORATION

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

EARNINGS (LOSS) PER SHARE

1 unchanged sentence

For the three months ended

December 31, For the six months ended

March 31, For the nine months ended

2024 2023 2024 2023

6 unchanged sentences

Weighted-average number of shares of common stock outstanding - diluted 573.6 577.9 573.7 579.6

Net income attributable to News Corporation stockholders per share - basic $ 0.27 $ 0.12 $ 0.33 $ 0.18

Net income attributable to News Corporation stockholders per share - diluted $ 0.27 $ 0.12 $ 0.32 $ 0.18

NEWS CORPORATION

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

Net income attributable to News Corporation stockholders per share - basic and diluted $ 0.05 $ 0.09 $ 0.38 $ 0.27

COMMITMENTS AND CONTINGENCIES

1 unchanged sentence

These firm commitments secure the current and future rights to various assets and services to be used in the normal course of operations.

As a result of entering into the 2024 Foxtel Credit Facility, the 2024 REA Credit Facility and the 2024 Subsidiary Facility during the six months ended December 31, 2023, the Company has presented its commitments associated with its borrowings and the related interest payments in the table below.

As of December 31, 2023

As a result of entering into the 2024 Foxtel Credit Facility, the 2024 REA Credit Facility and the 2024 Subsidiary Facility during the nine months ended March 31, 2024, the Company has presented its commitments associated with its borrowings and the related interest payments in the table below.

As of March 31, 2024

Payments Due by Period

5 unchanged sentences

(a) See Note 5—Borrowings.

(b) Reflects the Company’s expected future interest payments based on borrowings outstanding and interest rates applicable at December 31, 2023.

(b) Reflects the Company’s expected future interest payments based on borrowings outstanding and interest rates applicable at March 31, 2024.

Such rates are subject to change in future periods.

The Company’s other commitments as of December 31, 2023 have not changed significantly from the disclosures included in the 2023 Form 10-K.

The Company’s other commitments as of March 31, 2024 have not changed significantly from the disclosures included in the 2023 Form 10-K.

Contingencies

2 unchanged sentences

Fees, expenses, fines, penalties, judgments or settlement costs which might be incurred by the Company in connection with the various proceedings could adversely affect its results of operations and financial condition.

NEWS CORPORATION

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

The Company establishes an accrued liability for legal claims when it determines that a loss is probable and the amount of the loss can be reasonably estimated.

13 unchanged sentences

In July 2022, the parties agreed to settle the litigation and Insignia’s claims were dismissed with prejudice.

NEWS CORPORATION

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

HarperCollins

5 unchanged sentences

The complaints seek treble damages, injunctive relief and attorneys’ fees and costs.

In September 2022, the N.Y.

District Court granted Amazon and the Publishers’ motions to dismiss the complaints but gave the plaintiffs leave to amend.

The plaintiffs filed amended complaints in both cases in November 2022, and in January 2023, Amazon and the Publishers filed motions to dismiss the amended complaints.

In August 2023, the N.Y.

District Court dismissed the complaints in one of the cases with prejudice.

District Court dismissed the complaints in one of the cases with prejudice and in March 2024, the court dismissed the complaint against the Publishers in the remaining case with prejudice.

However, the plaintiffs’ time to appeal the N.Y.

District Court’s decision to dismiss in the latter case does not expire until the complaint against Amazon in that case has been finally determined.

While it is not possible at this time to predict with any degree of certainty the ultimate outcome of these actions, HarperCollins believes it has been compliant with applicable laws and intends to defend itself vigorously.

10 unchanged sentences

Newspaper Matters.

NEWS CORPORATION

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

The net expense related to the U.K.

Newspaper Matters in Selling, general and administrative was $ 2 million and $ 3 million for the three months ended December 31, 2023 and 2022, respectively, and $ 5 million and $ 9 million for the six months ended December 31, 2023 and 2022, respectively.

As of December 31, 2023, the Company has provided for its best estimate of the liability for the claims that have been filed and costs incurred, including liabilities associated with employment taxes, and has accrued approximately $ 81 million.

The amount to be indemnified by FOX of approximately $ 89 million was recorded as a receivable in Other current assets on the Balance Sheet as of December 31, 2023.

Newspaper Matters in Selling, general and administrative was $ 2 million and $ 4 million for the three months ended March 31, 2024 and 2023, respectively, and $ 7 million and $ 13 million for the nine months ended March 31, 2024 and 2023, respectively.

As of March 31, 2024, the Company has provided for its best estimate of the liability for the claims that have been filed and costs incurred, including liabilities associated with employment taxes, and has accrued approximately $ 70 million.

The amount to be indemnified by FOX of approximately $ 71 million was recorded as a receivable in Other current assets on the Balance Sheet as of March 31, 2024.

It is not possible to estimate the liability or corresponding receivable for any additional claims that may be filed given the information that is currently available to the Company.

5 unchanged sentences

In addition, the effects of changes in enacted tax laws or rates or tax status are recognized in the interim period in which the change occurs.

NEWS CORPORATION

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

For the three months ended December 31, 2023, the Company recorded income tax expense of $ 94 million on pre-tax income of $ 277 million, resulting in an effective tax rate that was higher than the U.S.

For the three months ended March 31, 2024, the Company recorded income tax expense of $ 22 million on pre-tax income of $ 64 million, resulting in an effective tax rate that was higher than the U.S.

statutory tax rate.

The tax rate was impacted by foreign operations which are subject to higher tax rates and by valuation allowances recorded against tax benefits in certain businesses.

For the six months ended December 31, 2023, the Company recorded income tax expense of $ 131 million on pre-tax income of $ 372 million, resulting in an effective tax rate that was higher than the U.S.

For the nine months ended March 31, 2024, the Company recorded income tax expense of $ 153 million on pre-tax income of $ 436 million, resulting in an effective tax rate that was higher than the U.S.

statutory tax rate.

The tax rate was impacted by foreign operations which are subject to higher tax rates and by valuation allowances recorded against tax benefits in certain businesses.

For the three months ended December 31, 2022, the Company recorded income tax expense of $ 61 million on pre-tax income of $ 155 million, resulting in an effective tax rate that was higher than the U.S.

statutory tax rate.The tax rate was impacted by foreign operations which are subject to higher tax rates and by valuation allowances recorded against tax benefits in certain businesses.

For the six months ended December 31, 2022, the Company recorded income tax expense of $ 96 million on pre-tax income of $ 256 million, resulting in an effective tax rate that was higher than the U.S.

For the three months ended March 31, 2023, the Company recorded income tax expense of $ 32 million on pre-tax income of $ 91 million, resulting in an effective tax rate that was higher than the U.S.

statutory tax rate.

The tax rate was impacted by foreign operations which are subject to higher tax rates and by valuation allowances recorded against tax benefits in certain businesses.

For the nine months ended March 31, 2023, the Company recorded income tax expense of $ 128 million on pre-tax income of $ 347 million, resulting in an effective tax rate that was higher than the U.S.

statutory tax rate.

The tax rate was impacted by foreign operations which are subject to higher tax rates and by valuation allowances recorded against tax benefits in certain businesses.

Management assesses available evidence to determine whether sufficient future taxable income will be generated to permit the use of existing deferred tax assets.

6 unchanged sentences

However, the Company may need to accrue additional income tax expense and its liability may need to be adjusted as new information becomes known and as these tax examinations continue to progress, or as settlements or litigations occur.

NEWS CORPORATION

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

The Inflation Reduction Act (“IRA”), which was signed into law on August 16, 2022, imposes a 15% corporate minimum tax on corporations with over $1 billion of financial statement income.

11 unchanged sentences

The Company is currently evaluating the potential impact of the Pillar Two global minimum tax proposals on its consolidated financial statements and related disclosures.

NEWS CORPORATION

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

The Company paid gross income taxes of $ 74 million and $ 81 million during the six months ended December 31, 2023 and 2022, respectively, and received tax refunds of $ 9 million and $ 1 million, respectively.

The Company paid gross income taxes of $ 110 million and $ 114 million during the nine months ended March 31, 2024 and 2023, respectively, and received tax refunds of $ 9 million and $ 13 million, respectively.

SEGMENT INFORMATION

7 unchanged sentences

and primarily operates Realtor.com ® , a premier real estate information, advertising and services platform.

Move offers real estate advertising solutions to agents and brokers, including its Connections SM Plus, Market VIP SM and Advantage SM Pro products as well as its referral-based services, ReadyConnect Concierge SM and UpNest.

Move also offers online tools and services to do-it-yourself landlords and tenants.

5 unchanged sentences

The Foxtel Group’s other streaming services include BINGE , its entertainment streaming service, and Foxtel Now, a streaming service that provides access across Foxtel’s live and on-demand content.

NEWS CORPORATION

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

ANC operates the SKY NEWS network, Australia’s 24-hour multi-channel, multi-platform news service.

5 unchanged sentences

• Book Publishing —The Book Publishing segment consists of HarperCollins, the second largest consumer book publisher in the world, with operations in 15 countries and particular strengths in general fiction, nonfiction, children’s and religious publishing.

HarperCollins owns more than 120 branded publishing imprints, including Harper, William Morrow, Mariner, HarperCollins Children’s Books, Avon, Harlequin and Christian publishers Zondervan and Thomas Nelson, and publishes works by well-known authors such as Harper Lee, George Orwell,

NEWS CORPORATION

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

Agatha Christie and Zora Neale Hurston, as well as global author brands including J.R.R.

Tolkien, C.S.

18 unchanged sentences

For the three months ended

December 31, For the six months ended December 31,

March 31, For the nine months ended March 31,

2024 2023 2024 2023

22 unchanged sentences

Net income $ 42 $ 59 $ 283 $ 219

December 31, 2023 As of

March 31, 2024 As of

June 30, 2023

11 unchanged sentences

NOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2023 As of

March 31, 2024 As of

June 30, 2023

11 unchanged sentences

Receivables, net consist of:

December 31, 2023 As of

March 31, 2024 As of

June 30, 2023

5 unchanged sentences

The following table sets forth the components of Other non-current assets:

December 31, 2023 As of

March 31, 2024 As of

June 30, 2023

11 unchanged sentences

The following table sets forth the components of Other current liabilities:

December 31, 2023 As of

March 31, 2024 As of

June 30, 2023

3 unchanged sentences

Allowance for sales returns 138 154

Current tax payable 11 16

Programming rights payable

Other 289 370

1 unchanged sentence

The following table sets forth the components of Other, net:

For the three months ended December 31, For the six months ended December 31,

For the three months ended March 31, For the nine months ended March 31,

2024 2023 2024 2023

6 unchanged sentences

Supplemental Cash Flow Information

The following table sets forth the Company’s cash paid for taxes and interest:

For the six months ended December 31,

The following table sets forth the Company’s cash paid for interest and taxes:

For the nine months ended March 31,

(in millions)

1 unchanged sentence

Cash paid for taxes $ 110 $ 114

SUBSEQUENT EVENTS

Dividend declaration

In February 2024, the Company’s Board of Directors declared a semi-annual cash dividend of $ 0.10 per share for Class A Common Stock and Class B Common Stock.

The dividend is payable on April 10, 2024 to stockholders of record as of March 13, 2024.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements