Analysis: Deferred Assets and Liabilities, Net

Entity Registrant Name TWENTY-FIRST CENTURY FOX, INC.
CIK 0001308161
Accession number 0001564590-14-003642
Link to XBRL instance http://www.sec.gov/Archives/edgar/data/1308161/000156459014003642/fox-20140630.xml
Fiscal year end --06-30
Fiscal year focus 2014
Fiscal period focus FY
Current balance sheet date 2014-06-30
Current year-to-date income statement start date 2013-07-01
Commentary Conforms with all rules.
Level 3 Text Block concept us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock

The following is a summary of the components of the deferred tax accounts:

 

 

As of June 30,

 

 

2014

 

 

2013

 

 

(in millions)

 

Deferred tax assets:

 

 

 

 

 

 

 

Net operating loss carryforwards

$

284

 

 

$

1,109

 

Capital loss carryforwards

 

1,360

 

 

 

1,676

 

Foreign tax credit carryforwards

 

561

 

 

 

474

 

Accrued liabilities

 

733

 

 

 

653

 

Other

 

293

 

 

 

231

 

Total deferred tax assets

 

3,231

 

 

 

4,143

 

Deferred tax liabilities:

 

 

 

 

 

 

 

Basis difference and amortization

 

(2,898

)

 

 

(2,449

)

Revenue recognition

 

(528

)

 

 

(505

)

Sports rights contracts

 

(135

)

 

 

(128

)

Total deferred tax liabilities

 

(3,561

)

 

 

(3,082

)

Net deferred tax (liability) asset before valuation allowance

 

(330

)

 

 

1,061

 

Less: valuation allowance

 

(2,338

)

 

 

(3,284

)

Total net deferred tax liabilities

$

(2,668

)

 

$

(2,223

)

 

Level 4 Details Key Concepts: Deferred tax assets (liabilities)

Description Fact value US GAAP XBRL Concept
Deferred tax assets, gross 3,231,000,000 us-gaap:DeferredTaxAssetsGross
Valuation allowance -2,338,000,000 us-gaap:DeferredTaxAssetsValuationAllowance
Deferred tax assets, net 893,000,000
Deferred tax liabilities -3,561,000,000 us-gaap:DeferredIncomeTaxLiabilities
Deferred tax assets (liabilities), net -2,668,000,000
CHECK 0

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(Classified balance sheet) Deferred tax assets (liabilities), net components current/noncurrent asset/liability

Description Fact value US GAAP XBRL Concept
Deferred tax assets, net, current 0 us-gaap:DeferredTaxAssetsNetCurrent
Deferred tax assets, net, noncurrent 61,000,000 us-gaap:DeferredTaxAssetsNetNoncurrent
Deferred tax liabilities, net, current 0
Deferred tax liabilities, net, noncurrent -2,729,000,000 us-gaap:DeferredIncomeTaxLiabilities
Deferred tax assets (liabilities), net -2,668,000,000
CHECK 0

*

(Unclassified balance sheet) Deferred tax assets (liabilities), net components asset/liability

Description Fact value US GAAP XBRL Concept
Deferred tax assets 893,000,000 us-gaap:DeferredTaxAssetsNetCurrent
Deferred tax liabilities, net -3,561,000,000 us-gaap:DeferredIncomeTaxLiabilities
Deferred tax assets (liabilities), net -2,668,000,000
CHECK 0

*

*

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