Overview Organizations must manage their working capital management to meet their short-term obligations. It's important to consider working capital problems such as excess credit or a low cash balance. This is especially important when you propose new projects or investments. A business can get a competitive advantage in the marketplace if they manage these issues early. Directions Look at the business you selected in the Module Two Journal and its financial statements for the most recent fiscal quarter. Complete the calculations for determining working capital. Then tell how the financial statements help determine financial health. Specifically, you must address the following rubric criteria: Financial Statements: Explain the various financial statements needed to calculate a business's working capital. Also explain how to use each financial statement for the calculation. Give examples to support your claims. Working Capital's Role: Discuss how businesses that manage their working capital well stay healthy. Working Capital Interpretation: Use the correct formula to calculate working capital. Then discuss the business's current financial liquidity position. o For example, does the business have enough working capital ready to address bills to suppliers? Will there be potential cash inflow at the end of the year? Working Capital Management Trend: Discuss the business's trend in how they manage their working capital. o Remember that financial statements reflect a specific period of time and the value of the business's working capital during that period. Use Mergent Online to find financial statements for earlier periods. This will give you a better sense of the business's trend. As Reported Quarterly Balance Sheet Report Date Currency Audit Status Consolidated Scale Cash & cash equivalents Receivables, net Inventories Content advances Licensed content costs & advances Other current assets Assets held for sale Total current assets Produced & licensed content costs Investments Parks, resorts & other property - attractions, buildings & equipment Parks, resorts & other property-accumulated depreciation - attractions, buildings & equipment Parks, resorts & other property before projects in progress & land - total Parks, resorts & other property - projects in progress Parks, resorts & other property - land Parks, resorts & other property, net Intangible assets, net Goodwill Noncurrent assets held for sale Other assets Total assets Accounts payable & other accrued liabilities Current portion of borrowings Deferred revenue & other current liabilities Liabilities held for sale Total current liabilities Commercial paper borrowings U.S. & European medium-term notes U.S. dollar denominated notes Asia International Theme Parks borrowings Asia Theme Parks borrowings Foreign currency denominated debt & other borrowings Total borrowings before current portion Less: current portion of borrowings Borrowings Deferred income taxes Noncurrent liabilities held for sale Other long-term liabilities Redeemable noncontrolling interests Common stock 07/01/2023 3rd Quarter USD Unaudited Yes Thousands 11,458,000 13,112,000 1,900,000 2,369,000 1,335,000 30,174,000 34,607,000 3,082,000 69,819,000 42,112,000 27,707,000 5,689,000 1,181,000 34,577,000 13,478,000 77,881.000 10,004,000 203,783,000 19,115,000 2,645,000 6,474,000 28,234,000 - 44,544,000 7,304,000 12,750,000 8,886,000 57,138,000 04/01/2023 2nd Quarter USD Unaudited Yes Thousands 10,399,000 12,770,000 1,848,000 1,872,000 1,374,000 28,263,000 36,949,000 3,387,000 69,695,000 41,452,000 28,243,000 5,175,000 1,161,000 34,579,000 13,887,000 77,878.000 9.915.000 204,858,000 18,591,000 3,452,000 6,013,000 28,056,000 - - 45,066,000 8,134,000 13,232,000 8,814,000 56,919,000 12/31/2022 1st Quarter USD Unaudited Yes Thousands 8,470,000 13,993,000 1,830,000 1,300,000 1,319,000 26,912,000 36,266,000 3,169,000 68,253,000 40,641,000 27,612,000 5,430,000 1,158,000 34,200,000 14,347,000 77,867,000 9,363.000 202,124,000 18,149,000 3,249,000 5,672,000 27.070,000 45,128,000 8,236,000 12,812,000 8,743,000 56,579,000 07/02/2022 3rd Quarter USD Unaudited Yes Thousands 12,950,000 13,685,000 1,590,000 1,902,000 1,286,000 31,422,000 34,077,000 3,236,000 65,599,000 39,089,000 26,510,000 5.956,000 1.117,000 33,583,000 15,334,000 77,945,000 8,477,000 204,074,000 20,858,000 5,580,000 4,266,000 30,704.000 46,022,000 8,034,000 13,456,000 9,425,000 56,087,000 04/02/2022 2nd Quarter USD Unaudited Yes Thousands 13,272,000 13,746,000 1,428,000 1,796,000 1,185,000 31,427,000 32,349,000 3.356,000 65,247,000 38,783,000 26,464,000 5,327,000 1,126,000 32,917,000 15,875,000 78,019,000 8,510,000 202,453,000 19,669,000 5.399,000 4,533,000 29,601,000 - 46.624,000 8,407,000 13,808,000 9,354,000 55,823,000 01/01/2022 1st Quarter USD Unaudited Yes Thousands 14,444,000 14,882,000 1,345,000 1,125,000 1.117.000 32,913,000 30,669,000 3,549.000 65,257,000 38,505,000 26,752,000 4,808,000 1,121,000 32,681,000 16,574.000 78.052.000 8,873,000 203,311,000 18,709,000 6,783.000 4,545,000 30,037,000 47,349,000 8,124,000 14,208.000 9,283,000 55,500,000 07/03/2021 3rd Quarter USD Unaudited Yes Thousands 16,070,000 13,355,000 1,344,000 - 2,367,000 830,000 33,966,000 27,889,000 4.045,000 64,023,000 37,579,000 26,444,000 4,856,000 1,077,000 32,377,000 17,601,000 77,835,000 8,508,000 202,221,000 18,317,000 4,728,000 4,368,000 27,413,000 - - - 51,110,000 6,835,000 16,249,000 9.492,000 55,174,000 04/03/2021 2nd Quarter USD Unaudited Yes Thousands 15,890,000 12,533,000 1,406,000 2,204,000 844.000 32,877,000 26,858,000 4,309.000 63,037,000 36,866,000 26,171,000 4,891,000 1,075,000 32,137,000 18,123,000 77,861,000 8,085,000 200,250,000 17,062,000 5,243.000 4,337,000 26,642,000 - - 50,903,000 6,894,000 16,615.000 9,410,000 55,000,000 01/02/2021 1st Quarter USD Unaudited Yes Thousands 17,088,000 14.051,000 1,480,000 1,423,000 852,000 34,874,000 25,929,000 4,037,000 63,017,000 36,380,000 26,637,000 4,547,000 1,079,000 32,263,000 18,642,000 77,800,000 8,343,000 201,888,000 16,846,000 5,397,000 4,303,000 26,546,000 52,878,000 7,201,000 17,205,000 9,330,000 54,663,000 06/27/2020 3rd Quarter USD Unaudited Yes Thousands 23,115,000 12,622,000 1,559,000 3,135,000 899,000 41,330,000 25,560,000 3,611,000 61,130,000 34,639,000 26,491,000 4,380,000 1,020,000 31,891,000 19,580,000 77,233,000 8,435,000 207,649,000 16,986,000 10,224,000 3,707,000 30,917,000 - - 54,197,000 7,055,000 15,855,000 9,162,000 54,386,000 03/28/2020 2nd Quarter USD Unaudited Yes Thousands 14,339,000 14,532,000 1,531,000 - 1,869,000 1,003,000 33,274,000 26,757,000 3,180,000 60,929.000 33,713,000 27,216.000 3,916,000 1,010,000 32,151,000 22,037,000 80,320,000 8,575.000 206,294,000 17,900,000 12,676,000 4,891,000 35,473.000 8,483,000 44,289.000 1,185.000 1,489,000 55,446,000 12,676,000 42,770,000 7,965,000 16,113,000 9,096,000 54,230,000 12/28/2019 1st Quarter USD Unaudited Yes Thousands 6.833,000 17,100,000 1,571,000 - 1,334,000 938,000 27,776,000 26,539,000 3,312,000 59,910,000 33,057,000 26,853,000 4,023,000 1.019,000 31,895,000 22,689,000 80,314,000 8.443.000 200,948,000 19.755,000 10.018,000 5,024,000 34,797.000 6.534,000 39,380,000 1,146,000 1,015,000 48,075,000 10.018,000 38,057,000 8,364,000 15,928,000 9,029,000 53.995,000 06/29/2019 3rd Quarter USD Unaudited Yes Thousands 6,728,000 15,673,000 1,516,000 4,526,000 1,035,000 1,892,000 31,370,000 22,552,000 3,872,000 57,457,000 32,088,000 25,369.000 4,853,000 1,170,000 31,392,000 25,114,000 77,801.000 12,591,000 4,783.000 209,475.000 17,647.000 21,923,000 4,730,000 293,000 44,593,000 - 36,311,000 10,404,000 2,353,000 10,561,000 8,897,000 53,718,000 03/30/2019 2nd Quarter USD Unaudited Yes Thousands 10,108.000 14,593,000 1,445,000 5,408.000 1,257,000 1,466.000 34,277,000 24,353,000 4,080,000 57,991.000 33,132,000 24,859.000 4,984.000 1,174.000 31,017,000 26,985,000 75,057,000 13,182,000 5,391.000 214,342.000 20,503,000 19,158.000 4,281,000 434,000 44,376,000 37,803,000 11,208,000 2,659,000 12,854,000 1,103.000 53,419.000 12/29/2018 1st Quarter USD Unaudited Yes Thousands 4,455,000 10,123,000 1,357,000 824,000 778,000 17,537,000 8.177.000 2.970,000 55.385,000 31,069,000 24,316,000 4,336,000 1,145,000 29.797,000 6.747,000 31,289,000 3.424.000 99,941,000 10.698,000 3,489,000 3,434,000 17,619,000 699,000 17.947.000 1,160,000 850,000 20.665,000 3,489,000 17,176,000 3,177,000 6.452,000 1,124,000 36,799,000 Common stock Retained earnings (accumulated deficit) Market value adjustments for investments Market value adjustments for hedges Market value adjustments Unrecognized pension & postretirement medical expense Foreign currency translation & other accumulated comprehensive income (loss) Accumulated other comprehensive income (loss) Shareholders' equity sub-total Treasury stock, at cost Total Disney (Walt) Co. shareholders' equity Noncontrolling interests Total equity As Reported Quarterly Income Statement Report Date Currency Audit Status Consolidated Scale Services revenues Products revenues Total revenues Cost of services (exclusive of depreciation & amortization) Cost of pro (exclusive of depreciation & amortization) Selling, general, administrative & other expenses Depreciation & amortization Total costs & expenses Restructuring & impairment charges Restructuring & impairment charges DraftKings, Inc. gain (loss) German free-to-air(FTA) television network gain (loss) Other income (expense) Other income (expense), net Other income Interest expense Interest & investment income Net periodic pension & postretirement benefit costs (other than service costs) Interest income, investment income & other interest income (expense) Interest income (expense), net Equity in the income (loss) of investees Income from continuing operations before income taxes Income taxes from continuing operations Net income (loss) from continuing operations Income (loss) from discontinued operations, net Net income (loss) Net income (loss) from continuing operations attributable to noncontrolling interests 57,136,000 45,794,000 11,000 (2,811,000) (1,613,000) (4,413,000) 907,000 97,610,000 4,446,000 102,056,000 56,919,000 46,236,000 1,000 (2,812,000) (1,578,000) (4,389,000) 907,000 97,859,000 3,697,000 101,556,000 07/01/2023 3rd Quarter USD Unaudited Yes 2,650,000 90,000 (101.000) (11.000) 503,000 111,000 87,000 (305.000) 191,000 (134,000) 19,000 (153,000) 56,579,000 44,955,000 (153,000) (307,000) 83,000 (2,868,000) (1,693,000) (4,478,000) 907,000 96,149,000 3,986,000 100,135,000 04/01/2023 2nd Quarter USD Unaudited Yes 152,000 149,000 149,000 504,000 98,000 84,000 (322,000) 173,000 2,123,000 635,000 1,488,000 56,087,000 43,462,000 1,488,000 (217,000) 396,000 (4.979,000) (1,559,000) (6,142,000) 907,000 92,500,000 3,933,000 96,433,000 12/31/2022 1st Quarter USD Unaudited 07/03/2021 3rd Quarter USD Unaudited Yes Thousands 20,008,000 2,322,000 19,542,000 2,277,000 Thousands 19,586,000 2,229,000 22,330,000 21,815,000 12,974,000 13,160,000 1,497,000 1,456,000 3,874,000 3,614,000 1,344,000 1,310,000 (19,689,000) (19,540,000) (21,519,000) (19,072,000) (17,649,000) (19,623,000) (15,667,000) Thousands Thousands Thousands Thousands 20,997,000 17,212,000 2,515,000 2,037,000 23.512,000 14,781,000 1,605,000 3,827,000 1,306,000 19,461,000 2,043,000 21,504,000 12,404,000 1,278,000 4,100,000 1,290,000 19,249,000 21,819,000 11,330,000 13,161,000 1,264,000 1,406,000 3.768,000 Thousands 15,585,000 1,437,000 17,022,000 10,251,000 982,000 3,168,000 1,266,000 3,787,000 1,269,000 1,287,000 69,000 Yes (70,000) 28,000 (42,000) 465,000 79,000 86,000 (300,000) 191,000 1.773,000 412,000 1,361,000 55,823,000 42,032,000 1,361,000 (82,000) (32,000) (5,098,000) (1,182,000) (6,312,000) 907,000 90,636,000 4,023,000 94,659,000 07/02/2022 3rd Quarter USD Unaudited Yes 42,000 (136,000) . (136,000) 380,000 7,000 13,000 (360,000) 225,000 2,119,000 617,000 1,502,000 55,500,000 41,547.000 1,502,000 (93,000) (5,217,000) (999,000) (6,276,000) (60,000) 907,000 89,864.000 4,448.000 94,310.000 04/02/2022 2nd Quarter USD Unaudited Yes 195,000 (158,000) - (158,000) 374,000 3,000 16,000 - (355,000) 210,000 1,102,000 505,000 597,000 597,000 (127,000) 55,174,000 40,311,000 (213,000) (6,712,000) (912.000) (7,837,000) 907,000 86,741,000 4,381,000 91,122,000 01/01/2022 1st Quarter USD Unaudited Yes (432,000) - (4,000) (436,000) 361,000 34,000 16,000 55,000,000 39,365,000 (311,000) 239,000 1,688,000 488,000 1,200,000 (48,000) 1.152,000 (48,000) (214,000) (6,881.000) (823,000) (7,918,000) 907.000 85,540,000 4,246,000 89,786,000 35,000 (217,000) 126,000 (91,000) - 404,000 (9,000) (32,000) (445,000) 211,000 995,000 (133,000) 1,128,000 (5,000) 1,123,000 (205,000) 54,663,000 38,456,000 (7.072,000) (745,000) (8,141,000) 04/03/2021 2nd Quarter USD Unaudited 907,000 84,071,000 4,657,000 88,728,000 Yes 414,000 - 305,000 - (324,000) - 415,000 131,000 (36,000) 06/27/2020 3rd Quarter USD Unaudited Yes Thousands Thousands 14,871,000 11,235,000 1,378,000 544,000 16,249,000 11,779,000 10,738,000 7,209,000 1,037,000 687,000 2,917,000 2,455,000 1,298,000 1,377,000 (14,167,000) (15,990,000) 11,728.000 Thousands 14,522,000 1,091,000 15,613,000 8,932,000 850,000 3,113,000 1,272,000 (320,000) 213,000 1,230,000 108,000 1,122,000 (11.000) 1,111,000 (210,000) 01/02/2021 1st Quarter USD Unaudited Yes 113,000 - - - 404,000 - - 54,386,000 39,004,000 (6.000) 80,000 (324,000) 224,000 46,000 16,000 - (5,469,000) (1,142,000) (6,617,000) . 907,000 85,866,000 4,597,000 90,463.000 5,047,000 . - 382,000 456,000 41,000 3.000 (412,000) 186.000 (4,840,000) (331,000) 30,000 (4,509,000) (12,000) (3.000) 18,000 (4,512,000) (1.000) (209,000) 54,230,000 43,721,000 122,000 (5,566,000) (1,193,000) (6,637,000) 907.000 90,407,000 4,470.000 94,877.000 03/28/2020 2nd Quarter USD Unaudited Yes 145.000 - - 365.000 63.000 2,000 53.995,000 43,202,000 (300,000) 135.000 1,080.000 525.000 535.000 (15,000) 520.000 (60,000) (7.000) - (5,639,000) (887,000) (6,533,000) 907,000 89,757,000 5,016,000 94,773,000 12/28/2019 1st Quarter USD Unaudited Yes Thousands Thousands Thousands 16,174,000 18,075,000 18,022,000 1,835,000 2,783,000 2,223,000 18,000,000 20,858,000 20,245,000 10,664,000 11,377,000 11,445,000 1,254,000 1,639,000 1,374,000 3,388,000 3,703,000 3,362,000 1,333.000 1,298,000 1,304,000 16,639,000 18,017,000 (17,485,000) 150,000 - - 362,000 53,718,000 41,382,000 (1,000) 33,000 79,000 (283,000) 224,000 2,632,000 459,000 2,173,000 (26,000) 2,147,000 (40,000) - (3,155,000) (598,000) (3,721,000) 907.000 90,472,000 5,884,000 96,356,000 06/29/2019 3rd Quarter USD Unaudited Yes 207,000 (123,000) - 472,000 34,000 27,000 (411,000) (1,000) 2,018,000 395,000 1,623,000 359,000 1,982,000 53,419.000 41,212,000 (4,000) 48.000 (3.179,000) (651,000) (3.786,000) 90,845.000 907,000 89,938,000 14,401.000 104,339,000 03/30/2019 2nd Quarter USD Unaudited Yes - - 4,963,000 198,000 30,000 25,000 36,799,000 84,887,000 (143,000) (312,000) 7,237,000 1,647,000 5,590,000 21,000 5.611,000 (159,000) 128,000 Thousands Thousands 13,006,000 12,866,000 1,916,000 2,437,000 14,922,000 15,303,000 7,167,000 7,584,000 1,209,000 1,437,000 2,327,000 2,152,000 828,000 732,000 11,531,000 (11,885,000) 662,000 (3,247.000) (663,000) (3,782,000) 117,904,000 67,588,000 50,316,000 4,077.000 54,393,000 12/29/2018 1st Quarter USD Unaudited Yes - 163,000 75,000 25,000 (63,000) 76,000 3,431,000 645,000 - 2,786,000 2,000 Income (loss) from discontinued operations, net Net income (loss) Net income (loss) from continuing operations attributable to noncontrolling interests Less: net income from continuing operations attributable to noncontrolling & redeemable noncontrolling interests Less: net income from discontinued operations attributable to noncontrolling interests Net income (loss) attributable to The Walt Disney Company (Disney) Weighted average shares outstanding - basic Weighted average shares outstanding - diluted Year end shares outstanding Earnings (loss) per share - continuing operations - basic Earnings (loss) per share - discontinued operations - basic Net earnings (loss) per share basic Earnings (loss) per share - continuing operations - diluted Earnings (loss) per share - discontinued operations - diluted Net earnings (loss) per share - diluted Dividends declared per common share As Reported Quarterly Retained Earnings Report Date Currency Audit Status Consolidated Scale Previous retained earnings (accumulated deficit) Dividends Reclassification of certain tax effects from accumulated other comprehensive income Intra-entity transfers of assets other than inventory Revenues from contracts with customers Adoption of new lease accounting guidance Retirement of treasury stock Distributions & other retained earnings Retained earnings (accumulated deficit) As Reported Quarterly Cash Flow Report Date Currency Audit Status Consolidated Scale Net income (loss) Net income (loss) from continuing operations Depreciation & amortization Impairment of produced & licensed content costs Net loss (gain) on investments Goodwill & intangible asset impairment 07/01/2023 3rd Quarter USD Unaudited Yes Thousands 2,696,000 3,960,000 2,266,000 07/01/2023 3rd Quarter USD Unaudited Thousands 46,238.000 18,000 45,794,000 04/01/2023 2nd Quarter USD Unaudited Yes Thousands 2,849,000 2,616,000 (88,000) (153,000) (307.000) (460,000) 1,829,000 1,829,000 1,781,000 (0.25) (0.25) (0.25) (0.25) 04/01/2023 2nd Quarter USD Unaudited Yes Thousands 44,955,000 . 10,000 46,236,000 12/31/2022 1st Quarter USD Unaudited Yes Thousands 1,361,000 1,306,000 68,000 1,488,000 (217,000) - 1,271,000 1,828,000 1,831,000 1,808,000 0.7 - 0.7 0.69 - 0.69 12/31/2022 1st Quarter USD Unaudited Yes Thousands 43,636,000 - 40,000 44,955,000 07/02/2022 3rd Quarter USD Unaudited Yes Thousands 1.361,000 (82,000) 07/02/2022 3rd Quarter USD Unaudited Yes 3,299.000 3,846,000 1,279,000 1.825,000 1,827,000 1,781,000 0.7 779,000 0.7 0.7 Thousands 42,032,000 - 0.7 - - - 21,000 43,462,000 1,502,000 (93.000) 1,409,000 1,823,000 1,825,000 1.781,000 0.77 04/02/2022 2nd Quarter USD 04/02/2022 2nd Quarter USD Unaudited Unaudited - Yes Thousands 41,547,000 Thousands 0.77 0.77 15,000 42,032,000 1,797,000 2,556,000 0.77 632,000 . Yes 597,000 (127,000) 470,000 1,822,000 1,828,000 1.781,000 0.26 01/01/2022 1st Quarter USD Unaudited 01/01/2022 1st Quarter USD Unaudited Yes 0.26 0.26 Thousands 40,429,000 Thousands 0.26 1,200,000 1,269,000 . 41.547.000 436,000 Yes 14.000 (48,000) 1.152,000 (48,000) 1,104,000 1,819,000 1,828,000 1,781,000 0.63 (0.03) 0.6 0.63 (0.03) 0.61 07/03/2021 3rd Quarter USD Unaudited Yes Thousands 39,365,000 07/03/2021 3rd Quarter USD Unaudited Yes - Thousands 25,000 40,311,000 2,280,000 3,836,000 (325,000) - 3.000 . (5,000) 1,123,000 (205,000) 918,000 1,818,000 1,830,000 1,781,000 0.51 0.5 0.5 - 0.5 - 04/03/2021 2nd Quarter USD Unaudited Thousands 38,456,000 04/03/2021 2nd Quarter USD 13,000 39,365,000 Unaudited Yes Thousands Yes 1,152,000 2,570,000 (481,000) (5.000) (11,000) 1,111,000 (210,000) 901,000 1,817,000 1,829,000 1,781,000 0.5 (0.01) 0.5 0.5 (0.01) 0.49 01/02/2021 1st Quarter USD Unaudited Thousands 38,315,000 110,000 14,000 38,456,000 01/02/2021 1st Quarter USD Unaudited Yes Thousands Yes 30,000 1,298,000 (80,000) (12,000) 18,000 (1.000) 17,000 1,812,000 1,823,000 1,781,000 0.02 (0.01) 0.01 0.02 (0.01) 0.01 - - 06/27/2020 3rd Quarter USD Unaudited Yes Thousands 43,721,000 06/27/2020 3rd Quarter USD Unaudited Yes (3.000) (4.512,000) (209,000) 4,000 39,004,000 Thousands (1,813,000) 4,010,000 (4,721,000) 1,809,000 1,800,000 1,781,000 (2.61) 4,953,000 - - - (2.61) (2.61) (2.61) 0.88 03/28/2020 2nd Quarter USD Unaudited Yes Thousands 43,202,000 9,000 03/28/2020 2nd Quarter USD Unaudited 68,000 43,721,000 Yes Thousands (15,000) 520,000 (60,000) 2,708,000 2,631,000 - 460,000 1,808,000 1,816,000 1,781.000 0.26 (0.01) 0.25 0.26 (0.01) 0.25 0.88 . - (26,000) 2,147,000 (40,000) 2,107,000 1,805,000 1,817,000 1,781,000 1.18 (0.01) 1.17 1.17 (0.01) 1.16 0.88 12/28/2019 1st Quarter USD Unaudited Yes Thousands 42,494,000 1,587,000 197,000 (9.000) 43,202,000 12/28/2019 1st Quarter USD Unaudited Yes Thousands . 2,173,000 1,298,000 359,000 1,982,000 (186,000) (36,000) 1,760,000 1,802,000 1,814,000 1,781,000 06/29/2019 3rd Quarter USD Unaudited Yes 0.8 0.18 0.98 0.79 0.18 Thousands 41,212,000 1,585,000 06/29/2019 3rd Quarter USD Unaudited 0.97 0.88 Yes Thousands (5.000) 41,382,000 9.999,000 2,884,000 - - 21,000 5,611,000 (159,000) 5,452,000 1,530,000 1,537,000 1,779,000 3.55 0.01 3.56 3.53 0.01 3.55 03/30/2019 2nd Quarter USD Unaudited Yes Thousands 84,887,000 8.000 - 49,118.000 (1,000) 41,212,000 03/30/2019 2nd Quarter USD Unaudited Yes Thousands - 8,376.000 1,580,000 2,786,000 2,000 2,788,000 1,490,000 1,498,000 1,500,000 1.87 1.86 0.88 12/29/2018 1st Quarter USD Unaudited Thousands 82,679,000 1,310,000 691,000 129.000 (116,000) 22,000 4,000 84,887,000 12/29/2018 1st Quarter USD Unaudited Yes Thousands 2,786,000 732,000 - Currency Audit Status Consolidated Scale Net income (loss) Net income (loss) from continuing operations Depreciation & amortization Impairment of produced & licensed content costs Net loss (gain) on investments Goodwill & intangible asset impairment Net loss (gain) on acquisitions & investments Loss (gain) on acquisition Net loss (gain) on investments & disposition of businesses Deferred income taxes Equity in the loss (income) of investees Cash distributions received from equity investees Net change in produced & licensed content costs & advances Net change in operating lease right of use assets / liabilities Equity-based compensation Pension & postretirement medical benefit cost amortization Other adjustments, net Receivables Inventories Other assets Accounts payable & other accrued liabilities Accounts payable & other liabilities Income taxes Net cash flows from operations - continuing operations Net cash flows from operating activities Investments in parks, resorts & other property Acquisitions Proceeds from sales of investments Other investing activities, net Net cash flows from investing activities - continuing operations Net cash flows from investing activities Commercial paper borrowings (payments), net Borrowings Reduction of borrowings Contributions from or sale of noncontrolling interest Sale of noncontrolling interest Acquisition of redeemable noncontrolling interest Dividends Proceeds from exercise of stock options Acquisition of noncontrolling & redeemable noncontrolling interests Contributions from or sales of noncontrolling interests Other financing activities.net 3rd Quarter USD Unaudited Yes Thousands 2,696,000 3,960,000 2,266,000 (184,000) (899,000) (555,000) 531,000 (1,861,000) 861,000 3,000 (166,000) (744,000) (120,000) (64,000) (1,609,000) 949,000 5,064,000 (3,595,000) 458,000 (122,000) (3,259,000) 40,000 70.000 (1,319,000) 719,000 (900,000) (737.000) 2nd Quarter USD Unaudited Yes Thousands 2,849,000 2,616,000 (88.000) - (46,000) (364.000) 363,000 (824,000) - 570,000 2,000 (234,000) (413,000) (107.000) (345,000) (2,133,000) 416,000 2,262,000 (2,430,000) - (111.000) (2,541,000) 714,000 70,000 (1.000.000) 178,000 (900,000) (188.000) 1st Quarter USD Unaudited Yes Thousands 1,361,000 1,300,000 68,000 - - (15,000) (191,000) 176,000 558,000 270,000 1,000 (232,000) (1,423,000) (88,000) (443,000) (2.378,000) 56,000 (974,000) (974,000) (1,181,000) (111,000) (1.292,000) (1.292,000) 799,000 67,000 (1,000,000) 178,000 (900,000) (187.000) 3rd Quarter USD Unaudited Yes Thousands 3,299,000 3,846.000 779.000 605,000 (674,000) 575.000 (4,306,000) - 723.000 465.000 492,000 (506,000) (259,000) (684,000) (892,000) 15,000 3,478.000 3,478,000 (3,795,000) (77,000) (3,872,000) (3,872,000) (275,000) 152,000 (1,400,000) 100.000 (824.000) 2nd Quarter USD Unaudited Yes Thousands 1,797,000 2,556,000 632,000 - 983,000 (449,000) 406,000 (2,279,000) 450,000 310,000 264,000 (342,000) (97.000) (676.000) (1,349.000) (650,000) 1,556,000 (2,060,000) 36,000 - (2,024,000) (130,000) 70.000 (1,400,000) - 88,000 (725.000) 1st Quarter USD Unaudited Yes Thousands 1,200,000 1,269,000 436.000 726,000 (239,000) 223,000 507,000 - 196,000 155,000 (7.000) (1,401,000) (14,000) (115,000) (2.579,000) (566,000) (209,000) (209,000) (981,000) (6.000) (987,000) (987,000) (124,000) 33,000 33,000 (222.000) 3rd Quarter USD Unaudited Yes Thousands 2,280,000 3,836,000 (325,000) - (749,000) (648,000) 546,000 (3,192,000) 127,000 428,000 728,000 (301,000) 236.000 (113,000) 341,000 (260,000) 2,934,000 (2,468,000) 383,000 (2,085,000) (99,000) 43,000 (2.319,000) 405,000 (801.000) 2nd Quarter USD Unaudited Yes Thousands 1,152.000 2,570,000 (481,000) - (556,000) (437,000) 372,000 (1,685,000) 146,000 270,000 490,000 (37,000) 175.000 (131,000) (780,000) 400,000 1,468.000 (1,530,000) 203.000 (1,327,000) (87,000) 37.000 (1,816,000) - - 394,000 (769.000) 1st Quarter USD Unaudited Yes Thousands 30,000 1.298,000 (80,000) (105,000) (224,000) 193,000 771,000 36,000 134,000 90,000 (1,324,000) 94,000 (136,000) (642,000) (60,000) 75,000 (760,000) 28,000 (732,000) (179,000) 1,000 (139,000) 209,000 - (225.000) 3rd Quarter USD Unaudited Yes Thousands (1,813,000) 4,010,000 4,953,000 (370.000) (548,000) (545,000) 567,000 (1,483,000) 16,000 388,000 471,000 2,100,000 86.000 8,000 (1,986,000) 95,000 5.949,000 5.949,000 (3,293,000) (27.000) (3,320,000) (3,320,000) 1,373,000 18,030,000 (2,297,000) (1,587,000) 238,000 (838.000) 2nd Quarter USD Unaudited Yes Thousands 2,708,000 2,631,000 297,000 (359,000) 405,000 (925,000) (96,000) 246,000 156,000 828,000 70,000 (174,000) (888,000) (112,000) 4,787,000 (2.585,000) (21,000) (2.606,000) 3,138,000 6,071,000 (1.048,000) (1,587,000) 207,000 (165.000) 1st Quarter USD Unaudited Yes Thousands 2,173,000 1,298,000 - 534,000 (224,000) 219,000 (77.000) 115,000 65,000 (1,424,000) 81,000 (33.000) (841,000) (256,000) 1,630,000 (1,338,000) (12,000) (1,350.000) 1,172,000 51,000 (46,000) - - 126,000 (186.000) 3rd Quarter USD Unaudited Yes Thousands - 9.999,000 2,884,000 (4,794,000) 1,716,000 234,000 548,000 59,000 591,000 152,000 (1,428,000) (96,000) 450,000 219,000 (6,248,000) 4,266,000 4,286,000 (3,567,000) (9,901,000) - (317,000) (13,785,000) (13,785,000) 2,973,000 31,348,000 (19,039,000) - (1,310,000) 278,000 (1,430,000) 544,000 (831.000) 2nd Quarter USD Unaudited Yes Thousands 8,376.000 1,560,000 (4,917,000) 1,190,000 236.000 370.000 (281,000) - 475,000 121.000 (386,000) (19,000) 46,000 (283,000) (474,000) 6,014,000 (2,390,000) (9.901,000) (392,000) (12,683,000) 376.000 31,145,000 (17,398,000) - (1,310,000) 83,000 (200.000) 1st Quarter USD Unaudited Yes Thousands 2,786,000 732,000 46,000 (76.000) 170,000 468,000 92,000 61,000 (1,078,000) 32,000 25,000 (1,289,000) 130,000 - 2,090,000 (1,195,000) (141,000) (1,336,000) (302.000) 37.000 (146.000) Net loss (gain) on acquisitions & investments Loss (gain) on acquisition Net loss (gain) on investments & disposition of businesses Deferred income taxes Equity in the loss (income) of investees Cash distributions received from equity investees Net change in produced & licensed content costs & advances Net change in operating lease right of use assets / liabilities Equity-based compensation Pension & postretirement medical benefit cost amortization Other adjustments, net Receivables Inventories Other assets Accounts payable & other accrued liabilities Accounts payable & other liabilities Income taxes Net cash flows from operations - continuing operations Net cash flows from operating activities Investments in parks, resorts other property Acquisitions Proceeds from sales of investments Other investing activities, net Net cash flows from investing activities - continuing operations Net cash flows from investing activities Commercial paper borrowings (payments), net Borrowings Reduction of borrowings Contributions from or sale of noncontrolling interest Sale of noncontrolling interest Acquisition of redeemable noncontrolling interest Dividends Proceeds from exercise of stock options Acquisition of noncontrolling & redeemable noncontrolling interests Contributions from or sales of noncontrolling interests Other financing activities, net Net cash flows from financing activities - continuing operations Net cash flows from financing activities Net cash flows from operating activities - discontinued operations Net cash flows from investing activities - discontinued operations Net cash flows from financing activities - discontinued operations Cash flows from operations - discontinued operations Impact of exchange rates on cash, cash equivalents & restricted cash Change in cash, cash equivalents & restricted cash Cash, cash equivalents & restricted cash, beginning of period Cash, cash equivalents & restricted cash, end of period (184,000) (899,000) (555,000) 531,000 (1,861,000) 861,000 3.000 (166,000) (744,000) (120,000) (64,000) (1,609,000) 949.000 5,064,000 (3.595.000) 458,000 (122,000) (3,259,000) 40,000 70,000 (1,319,000) 719,000 (900,000) (737,000) (2,127,000) - 174,000 (148,000) 11,661,000 11,513,000 (46.000) (364.000) 363,000 (824,000) 570,000 2,000 (234,000) (413,000) (107.000) (345.000) (2,133,000) 416,000 2,262,000 (2,430,000) (111,000) (2,541.000) 714,000 70,000 (1,000,000) 178,000 (900,000) - (188,000) (1,126,000) - 197,000 (1,208,000) 11,661,000 10,453,000 (15,000) (191,000) 176,000 558,000 - 270,000 1,000 (232,000) (1,423,000) (88,000) (443,000) (2.378,000) 56,000 (974,000) (974,000) (1,181,000) (111,000) (1.292,000) (1.292,000) 799,000 67,000 (1.000.000) 178,000 (900,000) - - (187,000) (1.043,000) (1.043,000) 164,000 (3.145,000) 11,661,000 8,516,000 605.000 (674,000) 575,000 (4,306,000) 723.000 465,000 492,000 (506,000) (259,000) (684,000) (892,000) 15.000 3,478.000 3,478,000 (3,795,000) (77,000) (3,872,000) (3,872,000) (275,000) 152,000 (1,400,000) 100,000 (824,000) (2,247,000) (2,247,000) 8.000 - (12,000) (4,000) (354,000) (2.999,000) 16,003,000 13,004,000 983,000 (449,000) 406,000 (2,279,000) 450,000 310,000 264,000 (342,000) (97.000) (676.000) (1,340.000) (650,000) 1,556,000 (2,060,000) 36,000 (2,024,000) (130,000) 70,000 (1,400,000) 88,000 (725.000) (2,097,000) 8,000 (12,000) (4.000) (116,000) (2,685,000) 16,003,000 13,318,000 726,000 (239,000) 223,000 507,000 - 196,000 155,000 (7.000) (1.401,000) (14,000) (115,000) (2,579,000) (566,000) (209,000) (200,000) (981,000) (6.000) (987.000) (987,000) (124,000) 33,000 33,000 (222,000) (280,000) (280,000) 8,000 (12,000) (4,000) (35,000) (1,515,000) 16,003,000 14,488,000 (749,000) (648,000) 546,000 3.192,000) 127,000 428,000 - 728,000 (301,000) 236,000 (113,000) 341,000 (260,000) 2.934,000 (2,468,000) 383,000 (2,085,000) (99,000) 43,000 (2.319,000) 405,000 (801,000) (2,771,000) (2,000) 8,000 6,000 77,000 (1.839,000) 17,954,000 16.115,000 (556,000) (437,000) 372,000 (1,685,000) 146.000 270.000 - 490,000 (37,000) 175,000 (131,000) (780,000) 400,000 1,468,000 (1,530,000) 203.000 (1,327,000) (87,000) 37.000 (1,816,000) - 394.000 (769,000) (2,241,000) 4.000 4,000 8,000 70,000 (2,022,000) 17,954,000 15,932,000 (105,000) (224,000) 193,000 771,000 36,000 134,000 90,000 (1,324,000) 94,000 (136,000) (642,000) (60,000) 75,000 (760,000) - - 28,000 (732,000) (179.000) 1,000 (139,000) - 209,000 - (225,000) (333,000) - 9,000 139,000 (842,000) 17,954,000 17,112,000 (370,000) (548,000) (545,000) 567,000 (1,483,000) 16,000 388,000 471,000 2,100,000 86,000 8,000 (1,986,000) 95,000 5,949,000 5.949,000 (3.293.000) (27,000) (3,320,000) (3,320,000) 1,373,000 18,030,000 (2,297,000) (1,587,000) 238,000 (838,000) 14,919.000 14,919,000 2,000 198,000 200,000 (49,000) 17,699,000 5,455,000 23,154,000 297,000 (359,000) 405,000 (925,000) (96,000) 246,000 156,000 828,000 70,000 (174,000) (888,000) (112,000) 4,787,000 (2,585,000) (21,000) (2.606,000) 3,138,000 6,071,000 (1.048,000) (1.587,000) 207,000 (165,000) 6,616,000 4,000 198,000 202,000 (76,000) 8,923,000 5,455,000 14,378,000 534.000 (224,000) 219,000 (77,000) 115,000 - 65,000 (1,424.000) 81,000 (33,000) (841.000) (256.000) 1,630,000 (1,338,000) (12.000) (1,350,000) 1,172,000 51,000 (46.000) - 126,000 - (186,000) 1,117,000 - (19,000) 41,000 1,419,000 5,455,000 6,874,000 (4,794,000) 1,716,000 234,000 548,000 59,000 591,000 152,000 (1,428,000) (98,000) 450,000 219,000 (6,248,000) 4,266,000 4,266,000 (3,567,000) (9.901,000) - (317,000) (13,785,000) (13,785,000) 2,973,000 31,348,000 (19,039,000) (1,310,000) 278,000 (1,430,000) 544.000 (831,000) 12.533,000 12,533,000 320,000 - (179.000) 141,000 47,000 3,202,000 4,155,000 7.357,000 (4,917,000) 1,190,000 236,000 370,000 (281,000) 475.000 121,000 (386,000) (19,000) 46.000 (283,000) (474,000) 6,014.000 (2,390,000) (9,901,000) (392,000) (12,683,000) 376.000 31,145.000 (17,398,000) (1,310,000) 83,000 (200,000) 12,696,000 (35,000) 75.000 6,067.000 4,155,000 10,222,000 - 46,000 (76.000) 170,000 468,000 92,000 61,000 (1,078,000) 32,000 25,000 (1,289,000) 130,000 2,099,000 (1,195,000) (141,000) - (1,336,000) (302,000) - - - 37,000 (148,000) (411,000) - (44,000) 308,000 4,155,000 4,463,000