Prompt Using the Project Two Financial Formulas Spreadsheet spreadsheet and the balance sheet, income statement, and cash flow statement from Mergent Online for your chosen company, calculate the financial ratios for the most recent fiscal quarter. Then, compare those ratios with the same ratios for the same fiscal quarter from one year prior in Mergent Online, and analyze your results. Specifically, you must address the following rubric criteria: Financial Calculations: Calculate accurate financial ratios to assess the business's current financial health. Specifically, calculate the following ratios: . Working capital o Current ratio o Debt ratio Earnings per share o Price/earnings ratio o Total asset turnover ratio o Financial leverage Net profit margin o Return on assets . Return on equity Fiscal Quarter Comparison: Using Mergent Online, summarize the differences between the results from your financial calculations of the most recent fiscal quarter and the results of the same financial calculations of the same fiscal quarter from a year before for your chosen business. . For example, if the most recent fiscal quarter available is the 3rd quarter in 2020, then you will compare those results to the same financial calculations from the 3rd quarter in 2019. Comparison Analysis: Explain what the results of your calculations and your comparison indicate about the business's current financial health, providing examples to support your explanation. You might consider the following questions: Do the results indicate the business is financially healthy or financially unhealthy? Which results indicate this? What might be the cause(s) of the business's financial success or failure? Is more information needed to determine the business's financial health? If so, which pieces of information might still be needed? Short-Term Financing: Explain how potential short-term financing sources could help the business raise needed funds to improve its financial health. Base your response on the business's current financial information. 17,689,000 80,293,000 8,433,000 201,549,000 12,663,000 2,925,000 1,213,000 16,801,000 5,711,000 4,116,000 26,628,000 2,023,000 4,715,000 193,984,000 13,778,000 3,010,000 974,000 17,762,000 8,857,000 4,722,000 31,341,000 5,342,000 Goodwill Receivables Prepaid expenses Other non-current assets Other assets Total assets Accounts payable Payroll & employee benefits Other accounts payable & accrued liabilities Accounts payable & other accrued liabilities Current portion of borrowings Deferred revenue & other current liabilities Total current liabilities Commercial paper U.S. & european medium-term notes Capital Cities/ABC, Inc. debt U.S. dollar denominated notes Foreign currency denominated debt Other borrowings Total long-term borrowings - Disney Co. Asia Theme Parks borrowings Total borrowings Less current portion Borrowings Deferred income taxes Pension & postretirement medical plan liabilities Other long-term liabilities Other long-term liabilities Redeemable noncontrolling interests Common stock Retained earnings (accumulated deficit) Market value adjustments for investments Market value adjustments for cash flow hedges Market value adjustments Unrecognized pension & postretirement medical expense Foreign currency translation & other accumulated other comprehensive income (oss) Foreign currency translation adjustments Accumulated other comprehensive income (loss) Stockholders' equity subtotal Treasury stock, at cost Total The Walt Disney Company shareholders' equity Noncontrolling interests Total equity 52,736,000 1,983,000 583,000 57,325,000 1,303,000 58,628,000 5,711,000 52,917,000 7,288,000 6,451,000 10,753,000 17,204,000 9,249,000 54,497,000 38,315,000 39,424,000 1,044,000 62,000 45,872,000 1,114,000 46,986,000 8,857,000 38,129,000 7,902,000 4,783,000 8,977,000 13,760,000 8,963,000 53,907,000 42,494,000 (2,000) 102,000 (151,000) (7,222,000) (5,746,000) (971,000) (949,000) (8,322,000) (6,617,000) 907,000 83,583,000 4,680,000 88,263,000 907,000 88,877,000 5,012,000 93,889,000 10/03/2020 USD Not Qualified Yes Thousands 17,914,000 09/28/2019 USD Not Qualified Yes Thousands 5,418,000 12,882,000 2,894,000 295,000 15,481,000 1,649,000 4,597,000 12,708,000 1,583,000 2,171,000 As Reported Annual Balance Sheet Report Date Currency Audit Status Consolidated Scale Cash & cash equivalents Accounts receivable Other receivables Allowance for doubtful accounts Receivables Inventories Licensed content costs & advances Prepaid expenses Other current assets Other current assets Total current assets Produced & licensed content costs Investments Attractions, buildings & improvements Furniture, fixtures & equipment Land improvements Leasehold improvements Attractions, buildings & equipment, at cost Accumulated depreciation Parks, resorts & other property, before projects in progress & land Projects in progress Land Parks, resorts & other property, net Intangible assets, net Goodwill Receivables Prepaid expenses Other non-current assets Other assets Total assets Accounts payable Payroll & employee benefits Other accounts payable & accrued liabilities Accounts payable & other accrued liabilities Current portion of borrowings Deferred revenue & other current liabilities Total current liabilities Commercial paper 875,000 35,251,000 25,022,000 3,903,000 31,279,000 22,976,000 6,828,000 1,028,000 62,111,000 35,517,000 979,000 28, 124,000 22,810,000 3,224,000 29,509,000 21,265,000 6,649,000 1,166,000 58,589,000 32,415,000 26,594,000 4,449,000 1,035,000 32,078,000 19,173,000 77,689,000 26,174,000 4,264,000 1,165,000 31,603,000 23,215,000 80,293,000 8,433,000 201,549,000 12,663,000 2,925,000 1,213,000 16,801,000 5,711,000 4,116,000 26,628,000 2,023,000 4,715,000 193,984,000 13,778,000 3,010,000 974,000 17,762,000 8,857,000 4,722,000 31,341,000 5,342,000 10/03/2020 USD Not Qualified Yes Thousands (2,442,000) 5,345,000 4,953,000 09/28/2019 USD Not Qualified Yes Thousands 10,913,000 4,160,000 (4,794,000) 117,000 103,000 754,000 (542,000) (920,000) (392,000) (651,000) 774,000 397,000 31,000 525,000 641,000 1,943,000 14,000 (157,000) As Reported Annual Cash Flow Report Date Currency Audit Status Consolidated Scale Net income (loss) from continuing operations Depreciation & amortization Goodwill & intangible asset impairment Gain on acquisitions & dispositions Net loss (gain) on investments, acquisitions & dispositions 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 Other adjustments Receivables Inventories Other assets Accounts payable & other accrued liabilities Accounts payable & other liabilities Income taxes Net cash flows from operating activities Investments in parks, resorts & other property Acquisitions Other investing activities Net cash flows from investing activities Commercial paper borrowings (payments), net Borrowings Reduction of borrowings Dividends Repurchases of common stock Proceeds from exercise of stock options Contributions from or sales of noncontrolling interests Acquisitions of noncontrolling & redeemable noncontrolling interests Other financing activities Net cash flows from financing actvities Cash flows from operating activities of discontinued operations Cash flows from investing activities of discontinued operations Cash flows from financing activities of discontinued operations Cash from (used in) discontinued operations 711,000 206,000 55,000 (223,000) 932,000 191,000 (2,293,000) (152,000) 7,616,000 (4,022,000) 172,000 (3,850,000) (3,354,000) 18,120,000 (3,533,000) (1,587,000) (6,599,000) 5,984,000 (4,876,000) (9,901,000) (319,000) (15,096,000) 4,318,000 38,240,000 (38,881,000) (2,895,000) 305,000 94,000 318,000 737,000 (1,565,000) 8,480,000 2,000 213,000 (1,430,000) (871,000) (464,000) 622,000 10,978,000 (626,000) 10,974,000 215,000 (1,587,000) (2,895,000) 305,000 94,000 318,000 737,000 Dividends Repurchases of common stock Proceeds from exercise of stock options Contributions from or sales of noncontrolling interests Acquisitions of noncontrolling & redeemable noncontrolling interests Other financing activities Net cash flows from financing actvities Cash flows from operating activities of discontinued operations Cash flows from investing activities of discontinued operations Cash flows from financing activities of discontinued operations Cash from (used in) 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 year Cash, cash equivalents & restricted cash, end of year Interest paid Income taxes paid (1,565,000) 8,480,000 2,000 213,000 (1,430,000) (871,000) (464,000) 622,000 10,978,000 (626,000) 10,974,000 215,000 38,000 12,499,000 5,455,000 17,954,000 1,559,000 738,000 (98,000) 1,300,000 4,155,000 5,455,000 1,142,000 9,259,000 10/03/2020 USD Not Qualified Yes Thousands 59,265,000 6,123,000 65,388,000 39,406,000 4,474,000 12,369,000 5,345,000 (61,594,000) 5,735,000 09/28/2019 USD Not Qualified Yes Thousands 60,542,000 9,028,000 69,570,000 36,450,000 5,568,000 11,541,000 4,160,000 (57,719,000) 1,183,000 4,794,000 973,000 (511,000) (46,000) 28,000 As Reported Annual Income Statement Report Date Currency Audit Status Consolidated Scale Revenues - services Revenues - products Total revenues Cost of services (exclusive of depreciation & amortization) Cost of products (exclusive of depreciation & amortization) Selling, general, administrative & other expenses Depreciation & amortization Total costs & expenses Restructuring & impairment charges Hulu LLC ("Hulu") gain DraftKings gain Charge for the extinguishment of a portion of the debt originally assumed in the TFCF acquisition Insurance recoveries (settlements) related to legal matters Gains on sale of real estate property rights & other Gain related to the acquisition of BAMTech LLC Gain on sale of an investment Other income (expense), net Interest expense Interest & investment income Interest income (expense), net Equity in the income (loss) of investees Income (loss) before income taxes - domestic (including U.S. exports) Income (loss) before income taxes - foreign subsidiaries Income (loss) from continuing operations before income taxes Current income tax expense (benefit) - federal Current income tax expense (benefit) - state Current income tax expense (benefit) - foreign Total current income tax expense (benefit) Deferred income tax expense (benefit) - federal Deferred income tax expense (benefit) - state Deferred income tax expense (benefit) - foreign Total deferred income tax expense (benefit) Income taxes on continuing operations Net income (loss) from continuing operations Income (loss) from discontinued operations Net income (oss) 65,000 1,038,000 1,647,000 156,000 (1,491,000) 651,000 4,357,000 1,246,000 268,000 (978,000) (103,000) 4,706,000 (6,449,000) (1,743,000) 95,000 148,000 731,000 974,000 279,000 (29,000) (525,000) (275,000) 699,000 (2,442,000) (32,000) (2,474,000) 12,389,000 1,555,000 13,944,000 14,000 112,000 824,000 950,000 1,829,000 259,000 (7,000) 2,081,000 3,031,000 10,913,000 671,000 11,584,000 As Reported Annual Retained Earnings Report Date Currency Audit Status Consolidated Scale Previous retained earnings (accumulated deficit) Dividends 10/03/2020 USD Not Qualified Yes Thousands 42,494,000 1,596,000 09/28/2019 USD Not Qualified Yes Thousands 82,679,000 2,913,000 691,000 192,000 Adoption of new accounting guidance - reclassification of certain tax effects from accumulated other comprehensive income Adoption of new accounting guidance - intra-entity transfers of assets other than inventory Adoption of new accounting guidance - revenues from contracts with customers Adoption of new accounting guidance - other Adoption of new lease accounting guidance Retirement of treasury stock Distributions & other retained earnings Retained earnings (accumulated deficit) (116,000) 22,000 197,000 84,000 38,315,000 49,118,000 3,000 42,494,000 10/03/2020 USD Not Qualified Yes Thousands 59,265,000 6,123,000 65,388,000 39,406,000 4,474,000 12,369,000 5,345,000 (61,594,000) 5,735,000 09/28/2019 USD Not Qualified Yes Thousands 60,542,000 9,028,000 69,570,000 36,450,000 5,568,000 11,541,000 4,160,000 (57,719,000) 1,183,000 4,794,000 973,000 (511,000) (46,000) 28,000 As Reported Annual Income Statement Report Date Currency Audit Status Consolidated Scale Revenues - services Revenues - products Total revenues Cost of services (exclusive of depreciation & amortization) Cost of products (exclusive of depreciation & amortization) Selling, general, administrative & other expenses Depreciation & amortization Total costs & expenses Restructuring & impairment charges Hulu LLC ("Hulu") gain DraftKings gain Charge for the extinguishment of a portion of the debt originally assumed in the TFCF acquisition Insurance recoveries (settlements) related to legal matters Gains on sale of real estate property rights & other Gain related to the acquisition of BAMTech LLC Gain on sale of an investment Other income (expense), net Interest expense Interest & investment income Interest income (expense), net Equity in the income (loss) of investees Income (loss) before income taxes - domestic (including U.S. exports) Income (loss) before income taxes - foreign subsidiaries Income (loss) from continuing operations before income taxes Current income tax expense (benefit) - federal Current income tax expense (benefit) - state Current income tax expense (benefit) - foreign Total current income tax expense (benefit) Deferred income tax expense (benefit) - federal Deferred income tax expense (benefit) - state Deferred income tax expense (benefit) - foreign Total deferred income tax expense (benefit) Income taxes on continuing operations Net income (loss) from continuing operations Income (loss) from discontinued operations Net income (oss) 65,000 1,038,000 1,647,000 156,000 (1,491,000) 651,000 4,357,000 1,246,000 268,000 (978,000) (103,000) 4,706,000 (6,449,000) (1,743,000) 95,000 148,000 731,000 974,000 279,000 (29,000) (525,000) (275,000) 699,000 (2,442,000) (32,000) (2,474,000) 12,389,000 1,555,000 13,944,000 14,000 112,000 824,000 950,000 1,829,000 259,000 (7,000) 2,081,000 3,031,000 10,913,000 671,000 11,584,000 As Reported Annual Retained Earnings Report Date Currency Audit Status Consolidated Scale Previous retained earnings (accumulated deficit) Dividends 10/03/2020 USD Not Qualified Yes Thousands 42,494,000 1,596,000 09/28/2019 USD Not Qualified Yes Thousands 82,679,000 2,913,000 691,000 192,000 Adoption of new accounting guidance - reclassification of certain tax effects from accumulated other comprehensive income Adoption of new accounting guidance - intra-entity transfers of assets other than inventory Adoption of new accounting guidance - revenues from contracts with customers Adoption of new accounting guidance - other Adoption of new lease accounting guidance Retirement of treasury stock Distributions & other retained earnings Retained earnings (accumulated deficit) (116,000) 22,000 197,000 84,000 38,315,000 49,118,000 3,000 42,494,000 Prompt Using the Project Two Financial Formulas Spreadsheet spreadsheet and the balance sheet, income statement, and cash flow statement from Mergent Online for your chosen company, calculate the financial ratios for the most recent fiscal quarter. Then, compare those ratios with the same ratios for the same fiscal quarter from one year prior in Mergent Online, and analyze your results. Specifically, you must address the following rubric criteria: Financial Calculations: Calculate accurate financial ratios to assess the business's current financial health. Specifically, calculate the following ratios: . Working capital o Current ratio o Debt ratio Earnings per share o Price/earnings ratio o Total asset turnover ratio o Financial leverage Net profit margin o Return on assets . Return on equity Fiscal Quarter Comparison: Using Mergent Online, summarize the differences between the results from your financial calculations of the most recent fiscal quarter and the results of the same financial calculations of the same fiscal quarter from a year before for your chosen business. . For example, if the most recent fiscal quarter available is the 3rd quarter in 2020, then you will compare those results to the same financial calculations from the 3rd quarter in 2019. Comparison Analysis: Explain what the results of your calculations and your comparison indicate about the business's current financial health, providing examples to support your explanation. You might consider the following questions: Do the results indicate the business is financially healthy or financially unhealthy? Which results indicate this? What might be the cause(s) of the business's financial success or failure? Is more information needed to determine the business's financial health? If so, which pieces of information might still be needed? Short-Term Financing: Explain how potential short-term financing sources could help the business raise needed funds to improve its financial health. Base your response on the business's current financial information. 17,689,000 80,293,000 8,433,000 201,549,000 12,663,000 2,925,000 1,213,000 16,801,000 5,711,000 4,116,000 26,628,000 2,023,000 4,715,000 193,984,000 13,778,000 3,010,000 974,000 17,762,000 8,857,000 4,722,000 31,341,000 5,342,000 Goodwill Receivables Prepaid expenses Other non-current assets Other assets Total assets Accounts payable Payroll & employee benefits Other accounts payable & accrued liabilities Accounts payable & other accrued liabilities Current portion of borrowings Deferred revenue & other current liabilities Total current liabilities Commercial paper U.S. & european medium-term notes Capital Cities/ABC, Inc. debt U.S. dollar denominated notes Foreign currency denominated debt Other borrowings Total long-term borrowings - Disney Co. Asia Theme Parks borrowings Total borrowings Less current portion Borrowings Deferred income taxes Pension & postretirement medical plan liabilities Other long-term liabilities Other long-term liabilities Redeemable noncontrolling interests Common stock Retained earnings (accumulated deficit) Market value adjustments for investments Market value adjustments for cash flow hedges Market value adjustments Unrecognized pension & postretirement medical expense Foreign currency translation & other accumulated other comprehensive income (oss) Foreign currency translation adjustments Accumulated other comprehensive income (loss) Stockholders' equity subtotal Treasury stock, at cost Total The Walt Disney Company shareholders' equity Noncontrolling interests Total equity 52,736,000 1,983,000 583,000 57,325,000 1,303,000 58,628,000 5,711,000 52,917,000 7,288,000 6,451,000 10,753,000 17,204,000 9,249,000 54,497,000 38,315,000 39,424,000 1,044,000 62,000 45,872,000 1,114,000 46,986,000 8,857,000 38,129,000 7,902,000 4,783,000 8,977,000 13,760,000 8,963,000 53,907,000 42,494,000 (2,000) 102,000 (151,000) (7,222,000) (5,746,000) (971,000) (949,000) (8,322,000) (6,617,000) 907,000 83,583,000 4,680,000 88,263,000 907,000 88,877,000 5,012,000 93,889,000 10/03/2020 USD Not Qualified Yes Thousands 17,914,000 09/28/2019 USD Not Qualified Yes Thousands 5,418,000 12,882,000 2,894,000 295,000 15,481,000 1,649,000 4,597,000 12,708,000 1,583,000 2,171,000 As Reported Annual Balance Sheet Report Date Currency Audit Status Consolidated Scale Cash & cash equivalents Accounts receivable Other receivables Allowance for doubtful accounts Receivables Inventories Licensed content costs & advances Prepaid expenses Other current assets Other current assets Total current assets Produced & licensed content costs Investments Attractions, buildings & improvements Furniture, fixtures & equipment Land improvements Leasehold improvements Attractions, buildings & equipment, at cost Accumulated depreciation Parks, resorts & other property, before projects in progress & land Projects in progress Land Parks, resorts & other property, net Intangible assets, net Goodwill Receivables Prepaid expenses Other non-current assets Other assets Total assets Accounts payable Payroll & employee benefits Other accounts payable & accrued liabilities Accounts payable & other accrued liabilities Current portion of borrowings Deferred revenue & other current liabilities Total current liabilities Commercial paper 875,000 35,251,000 25,022,000 3,903,000 31,279,000 22,976,000 6,828,000 1,028,000 62,111,000 35,517,000 979,000 28, 124,000 22,810,000 3,224,000 29,509,000 21,265,000 6,649,000 1,166,000 58,589,000 32,415,000 26,594,000 4,449,000 1,035,000 32,078,000 19,173,000 77,689,000 26,174,000 4,264,000 1,165,000 31,603,000 23,215,000 80,293,000 8,433,000 201,549,000 12,663,000 2,925,000 1,213,000 16,801,000 5,711,000 4,116,000 26,628,000 2,023,000 4,715,000 193,984,000 13,778,000 3,010,000 974,000 17,762,000 8,857,000 4,722,000 31,341,000 5,342,000 10/03/2020 USD Not Qualified Yes Thousands (2,442,000) 5,345,000 4,953,000 09/28/2019 USD Not Qualified Yes Thousands 10,913,000 4,160,000 (4,794,000) 117,000 103,000 754,000 (542,000) (920,000) (392,000) (651,000) 774,000 397,000 31,000 525,000 641,000 1,943,000 14,000 (157,000) As Reported Annual Cash Flow Report Date Currency Audit Status Consolidated Scale Net income (loss) from continuing operations Depreciation & amortization Goodwill & intangible asset impairment Gain on acquisitions & dispositions Net loss (gain) on investments, acquisitions & dispositions 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 Other adjustments Receivables Inventories Other assets Accounts payable & other accrued liabilities Accounts payable & other liabilities Income taxes Net cash flows from operating activities Investments in parks, resorts & other property Acquisitions Other investing activities Net cash flows from investing activities Commercial paper borrowings (payments), net Borrowings Reduction of borrowings Dividends Repurchases of common stock Proceeds from exercise of stock options Contributions from or sales of noncontrolling interests Acquisitions of noncontrolling & redeemable noncontrolling interests Other financing activities Net cash flows from financing actvities Cash flows from operating activities of discontinued operations Cash flows from investing activities of discontinued operations Cash flows from financing activities of discontinued operations Cash from (used in) discontinued operations 711,000 206,000 55,000 (223,000) 932,000 191,000 (2,293,000) (152,000) 7,616,000 (4,022,000) 172,000 (3,850,000) (3,354,000) 18,120,000 (3,533,000) (1,587,000) (6,599,000) 5,984,000 (4,876,000) (9,901,000) (319,000) (15,096,000) 4,318,000 38,240,000 (38,881,000) (2,895,000) 305,000 94,000 318,000 737,000 (1,565,000) 8,480,000 2,000 213,000 (1,430,000) (871,000) (464,000) 622,000 10,978,000 (626,000) 10,974,000 215,000 (1,587,000) (2,895,000) 305,000 94,000 318,000 737,000 Dividends Repurchases of common stock Proceeds from exercise of stock options Contributions from or sales of noncontrolling interests Acquisitions of noncontrolling & redeemable noncontrolling interests Other financing activities Net cash flows from financing actvities Cash flows from operating activities of discontinued operations Cash flows from investing activities of discontinued operations Cash flows from financing activities of discontinued operations Cash from (used in) 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 year Cash, cash equivalents & restricted cash, end of year Interest paid Income taxes paid (1,565,000) 8,480,000 2,000 213,000 (1,430,000) (871,000) (464,000) 622,000 10,978,000 (626,000) 10,974,000 215,000 38,000 12,499,000 5,455,000 17,954,000 1,559,000 738,000 (98,000) 1,300,000 4,155,000 5,455,000 1,142,000 9,259,000 10/03/2020 USD Not Qualified Yes Thousands 59,265,000 6,123,000 65,388,000 39,406,000 4,474,000 12,369,000 5,345,000 (61,594,000) 5,735,000 09/28/2019 USD Not Qualified Yes Thousands 60,542,000 9,028,000 69,570,000 36,450,000 5,568,000 11,541,000 4,160,000 (57,719,000) 1,183,000 4,794,000 973,000 (511,000) (46,000) 28,000 As Reported Annual Income Statement Report Date Currency Audit Status Consolidated Scale Revenues - services Revenues - products Total revenues Cost of services (exclusive of depreciation & amortization) Cost of products (exclusive of depreciation & amortization) Selling, general, administrative & other expenses Depreciation & amortization Total costs & expenses Restructuring & impairment charges Hulu LLC ("Hulu") gain DraftKings gain Charge for the extinguishment of a portion of the debt originally assumed in the TFCF acquisition Insurance recoveries (settlements) related to legal matters Gains on sale of real estate property rights & other Gain related to the acquisition of BAMTech LLC Gain on sale of an investment Other income (expense), net Interest expense Interest & investment income Interest income (expense), net Equity in the income (loss) of investees Income (loss) before income taxes - domestic (including U.S. exports) Income (loss) before income taxes - foreign subsidiaries Income (loss) from continuing operations before income taxes Current income tax expense (benefit) - federal Current income tax expense (benefit) - state Current income tax expense (benefit) - foreign Total current income tax expense (benefit) Deferred income tax expense (benefit) - federal Deferred income tax expense (benefit) - state Deferred income tax expense (benefit) - foreign Total deferred income tax expense (benefit) Income taxes on continuing operations Net income (loss) from continuing operations Income (loss) from discontinued operations Net income (oss) 65,000 1,038,000 1,647,000 156,000 (1,491,000) 651,000 4,357,000 1,246,000 268,000 (978,000) (103,000) 4,706,000 (6,449,000) (1,743,000) 95,000 148,000 731,000 974,000 279,000 (29,000) (525,000) (275,000) 699,000 (2,442,000) (32,000) (2,474,000) 12,389,000 1,555,000 13,944,000 14,000 112,000 824,000 950,000 1,829,000 259,000 (7,000) 2,081,000 3,031,000 10,913,000 671,000 11,584,000 As Reported Annual Retained Earnings Report Date Currency Audit Status Consolidated Scale Previous retained earnings (accumulated deficit) Dividends 10/03/2020 USD Not Qualified Yes Thousands 42,494,000 1,596,000 09/28/2019 USD Not Qualified Yes Thousands 82,679,000 2,913,000 691,000 192,000 Adoption of new accounting guidance - reclassification of certain tax effects from accumulated other comprehensive income Adoption of new accounting guidance - intra-entity transfers of assets other than inventory Adoption of new accounting guidance - revenues from contracts with customers Adoption of new accounting guidance - other Adoption of new lease accounting guidance Retirement of treasury stock Distributions & other retained earnings Retained earnings (accumulated deficit) (116,000) 22,000 197,000 84,000 38,315,000 49,118,000 3,000 42,494,000 10/03/2020 USD Not Qualified Yes Thousands 59,265,000 6,123,000 65,388,000 39,406,000 4,474,000 12,369,000 5,345,000 (61,594,000) 5,735,000 09/28/2019 USD Not Qualified Yes Thousands 60,542,000 9,028,000 69,570,000 36,450,000 5,568,000 11,541,000 4,160,000 (57,719,000) 1,183,000 4,794,000 973,000 (511,000) (46,000) 28,000 As Reported Annual Income Statement Report Date Currency Audit Status Consolidated Scale Revenues - services Revenues - products Total revenues Cost of services (exclusive of depreciation & amortization) Cost of products (exclusive of depreciation & amortization) Selling, general, administrative & other expenses Depreciation & amortization Total costs & expenses Restructuring & impairment charges Hulu LLC ("Hulu") gain DraftKings gain Charge for the extinguishment of a portion of the debt originally assumed in the TFCF acquisition Insurance recoveries (settlements) related to legal matters Gains on sale of real estate property rights & other Gain related to the acquisition of BAMTech LLC Gain on sale of an investment Other income (expense), net Interest expense Interest & investment income Interest income (expense), net Equity in the income (loss) of investees Income (loss) before income taxes - domestic (including U.S. exports) Income (loss) before income taxes - foreign subsidiaries Income (loss) from continuing operations before income taxes Current income tax expense (benefit) - federal Current income tax expense (benefit) - state Current income tax expense (benefit) - foreign Total current income tax expense (benefit) Deferred income tax expense (benefit) - federal Deferred income tax expense (benefit) - state Deferred income tax expense (benefit) - foreign Total deferred income tax expense (benefit) Income taxes on continuing operations Net income (loss) from continuing operations Income (loss) from discontinued operations Net income (oss) 65,000 1,038,000 1,647,000 156,000 (1,491,000) 651,000 4,357,000 1,246,000 268,000 (978,000) (103,000) 4,706,000 (6,449,000) (1,743,000) 95,000 148,000 731,000 974,000 279,000 (29,000) (525,000) (275,000) 699,000 (2,442,000) (32,000) (2,474,000) 12,389,000 1,555,000 13,944,000 14,000 112,000 824,000 950,000 1,829,000 259,000 (7,000) 2,081,000 3,031,000 10,913,000 671,000 11,584,000 As Reported Annual Retained Earnings Report Date Currency Audit Status Consolidated Scale Previous retained earnings (accumulated deficit) Dividends 10/03/2020 USD Not Qualified Yes Thousands 42,494,000 1,596,000 09/28/2019 USD Not Qualified Yes Thousands 82,679,000 2,913,000 691,000 192,000 Adoption of new accounting guidance - reclassification of certain tax effects from accumulated other comprehensive income Adoption of new accounting guidance - intra-entity transfers of assets other than inventory Adoption of new accounting guidance - revenues from contracts with customers Adoption of new accounting guidance - other Adoption of new lease accounting guidance Retirement of treasury stock Distributions & other retained earnings Retained earnings (accumulated deficit) (116,000) 22,000 197,000 84,000 38,315,000 49,118,000 3,000 42,494,000