Estimate book value of portion of equity investments sold in 2007.
(in millions, except per share data) September 29. September 30, 2007 2006 ASSETS Current assets Cash and cash equivalents $ 3.670 S 2,411 Receivables (net of $116 and $112 allowance for uncollectible accounts respectively) 5,032 4,707 Inventories 641 694 Television costs 559 415 Deferred income taxes 862 597 Other current assets 550 743 Total current assets 11,314 9.562 Film and television costs 5,123 5,235 Investments XXX XXX Parks, resorts and other property, net 17,433 17,167 Goodwill 22,085 22,505 Other assets XXX XXX $ 60.928 59.998 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable and other accrued liabilities $ 5.949 S 5,917 Current portion of borrowings 3.280 2.682 Unearned royalties and other advances 2,162 1,611 Total current liabilities 11,391 10,210 DELETED ITEMS XXX XXX Deferred income taxes 2,573 2,651 Minority interests 1,295 1,343 Shareholders' equity Preferred stock, $.01 par value Authorized - 100 million shares, Issued - none Common stock, $.01 par value Authorized - 3.6 billion shares, Issued - 2.6 billion shares at September 29, 2007 and 2.5 billion at September 30, 2006 24,207 22,377 Retained earnings 24,805 20,630 Accumulated other comprehensive loss (157) (8) 48,855 42,999 Treasury stock, at cost, 637.8 million shares at September 29, 2007 and 436.0 million shares at September 30, 2006 (18,102) (11,179) 30,753 31,820 $ 60,928 59.9982007 2000 2005 OPERATING ACTIVITIES OF CONTINUING OPERATIONS Net income S 4,687 $ 3,374 $ 2,533 Income from discontinued operations (13) (70) (109) Depreciation and amortization 1.491 1,437 1,341 Gains on sales of equity investments (1,052) (70) (26) Deferred income taxes XXX XXX XXX Equity in the income of equity investees (485) (473) (483) Cash distributions received from equity investees 420 458 402 Write-off of aircraft leveraged lease 101 Cumulative effect of accounting change 36 Minority interests 177 183 177 Net change in film and television costs 115 860 568 Equity-based compensation 419 373 370 Other (65) (54) (150) Changes in operating assets and liabilities DELETED ITEMS XXX XXX XXX Cash provided by continuing operations 5,398 5,960 4,139 INVESTING ACTIVITIES OF CONTINUING OPERATIONS Investments in parks, resorts and other property (1,566) (1,292) (1,813) Sales of investments 1,073 24 Working capital proceeds from spinoff 100 Proceeds from sales of equity investments 1.530 81 29 Acquisitions (588) (55) (9) Proceeds from sales of fixed assets and other 27) 13) Cash used in continuing investing activities 618) (220) (1,682) FINANCING ACTIVITIES OF CONTINUING OPERATIONS Commercial paper borrowings, net 1,847 85 654 Borrowings 3,143 2.806 422 Reduction of borrowings (2,294) (1,950) (1,775) Dividends (637) (519) (490) Repurchases of common stock (6,923) (6,898) (2,420) DELETED ITEMS XXX XXX XXX Cash used in continuing financing activities (3,619) 5,166) 2,899) CASH FLOWS OF DISCONTINUED OPERATIONS XXX XXX XXX Increase/(decrease) in cash and cash equivalents 1,259 688 (319) Cash and cash equivalents, beginning of year 2,411 1.723 2,042 Cash and cash equivalents, end of year $ 3,670 $ 2,411 $ 1,723 Supplemental disclosure of cash flow information: Interest paid $ 551 $ 617 641 Income taxes paid $ 2,796 $ 1.857 $ 1,572
