1-What are Disneys parks and resort segments future external financing needs? 2- How sound is Disneys parks and resort segment financial structure given its level of profitability and cash flow, its level of business risk and its future need for finance? 3- how will Disney service its debt - to what extent is it counting on refinancing with debt or equity issue? 4- Does Disney have assured access on acceptable terms to the equity markets and how many shares could be sold and at what price in 'good times' and in periods of adversity? 5- What criteria is used by Disney's target sources of finance to determine whether finance will be provided - if so what terms?

Parks and Resorts Revenues Domestic International Total Revenues Operating expenses Selling,general, admin and other Depreciation and amortization equity in the loss of investees Operating income 2016 | 2015 |%change | 2014 14242 13611 2732 16974 -10039 -9730 19131884 -1721 5% 7% 5% -3% -2% -13% 2551 16162 15099 1517 -3 3298 3031 9% 2663 Gross profit margin Operating profit margin Net profit margin 19.43% Capital Expenditures Domesti International 2016 2180 2035 2147 2015 1457 2014 1184 1504