Cumulative translation adjustment, before Tax

  
FOX CORPORATIONNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSThe following tables summarize the activity within Other comprehensive income (loss):

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   | For the year ended June 30, 2022 |
|   | Before tax |  | Tax benefit(provision) |  | Net of tax |
|   | (in millions) |
| Benefit plan and cumulative translation adjustments |  |  |  |  |  |
| Unrealized gains | $ | 100  |  |  | $ | (25) |  |  | $ | 75  |  |
| Reclassifications realized in net income(a) | 32  |  |  | (8) |  |  | 24  |  |
| Cumulative translation adjustment | (7) |  |  | —  |  |  | (7) |  |
| Other comprehensive income | $ | 125  |  |  | $ | (33) |  |  | $ | 92  |  |



|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   | For the year ended June 30, 2021  |
|   | Before tax  |  | Tax benefit(provision) |  | Net of tax  |
|   | (in millions)  |
| Benefit plan adjustments |  |  |  |  |  |
| Unrealized gains | $ | 87  |  |  | $ | (21) |  |  | $ | 66  |  |
| Reclassifications realized in net income(a) | 45  |  |  | (12) |  |  | 33  |  |
| Other comprehensive income | $ | 132  |  |  | $ | (33) |  |  | $ | 99  |  |



|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   | For the year ended June 30, 2020  |
|   | Before tax  |  | Tax benefit(provision) |  | Net of tax  |
|   | (in millions)  |
| Benefit plan adjustments and other |  |  |  |  |  |
| Unrealized losses | $ | (175) |  |  | $ | 44  |  |  | $ | (131) |  |
| Reclassifications realized in net income(a) | 29  |  |  | (7) |  |  | 22  |  |
| Other comprehensive loss | $ | (146) |  |  | $ | 37  |  |  | $ | (109) |  |



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| --- | --- | --- |
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| --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |
| (a) | Reclassifications of amounts related to benefit plan adjustments are included in Other, net in the Statements of Operations (See Note 15—Pension and Other Postretirement Benefits for additional information). |

Accumulated other comprehensive lossThe following table summarizes the components of Accumulated other comprehensive loss, net of tax:

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   | As of June 30,  |
|   | 2022 |  | 2021 |  | 2020 |
|   | (in millions)  |
| Benefit plan adjustments and other | $ | (219) |  |  | $ | (318) |  |  | $ | (417) |  |
| Cumulative translation adjustment | (7) |  |  | —  |  |  | —  |  |
| Accumulated other comprehensive loss, net of tax | $ | (226) |  |  | $ | (318) |  |  | $ | (417) |  |

NOTE 12. EQUITY-BASED COMPENSATION2019 Shareholder Alignment PlanThe Company maintains the Fox Corporation 2019 Shareholder Alignment Plan (the "SAP"), under which equity-based compensation, including stock options (including performance-based stock options ("PSOs")), stock appreciation rights, restricted and unrestricted stock, RSUs, performance stock units "PSUs") and other 88
