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Exhibit 99(c)

The pro forma worksheet which follows takes into account the new Statement of Financial Accounting Standard No. 142. This accounting standard eliminates the amortization of goodwill and certain intangible assets. The Walt Disney Company will adopt this standard effective October 1, 2001.

The Walt Disney Company
PRO FORMA CONSOLIDATED INCOME STATEMENT WORKSHEET
(unaudited; in millions, except per share data)

Quarter ended		Dec 31 2000			Mar 31 2001			Jun 30 2001			Sep 30 2001			FY 2001
Revenues:
	Media Networks	$	2,956		$	2,256		$	2,169		$	2,175		$	9,556
	Parks & Resorts		1,724			1,650			1,946			1,684			7,004
	Studio Entertainment		1,850			1,573			1,342			1,341			6,106
	Consumer Products		892			568			518			612			2,590
		$	7,422		$	6,047		$	5,975		$	5,812		$	25,256
Segment Operating Income:
	Media Networks	$	547		$	457		$	439		$	348		$	1,791
	Parks & Resorts		384			329			560			313			1,586
	Studio Entertainment		152			164			65			(121	)		260
	Consumer Products		169			87			58			87			401
			1,252			1,037			1,122			627			4,038
Amortization of Intangible Assets			(8	)		(5	)		(5	)		(5	)		(23	)
Corporate and unallocated share expenses			(81	)		(109	)		(94	)		(122	)		(406	)
Gain on sale of businesses			22			—			—			—			22
Net interest expense and other			(109	)		(98	)		(80	)		(130	)		(417	)
Equity in the income of investees			84			68			88			69			309
Restructuring and impairment charges			(194	)		(134	)		(138	)		(110	)		(576	)
Income before income taxes, minority interests and accounting changes			966			759			893			329			2,947
Income taxes			(405	)		(284	)		(346	)		(109	)		(1,144	)
Minority interests			(30	)		(33	)		(20	)		(21	)		(104	)
Income before cumulative effect of accounting changes			531			442			527			199			1,699
Cumulative effect of accounting changes:
	Film accounting		(228	)		—			—			—			(228	)
	Derivative accounting		(50	)		—			—			—			(50	)
Net income		$	253		$	442		$	527		$	199		$	1,421
Earnings per share before cumulative effect of accounting changes:
	Diluted	$	0.25		$	0.21		$	0.25		$	0.10		$	0.81
	Basic	$	0.25		$	0.21		$	0.25		$	0.10		$	0.81
Earnings per share including cumulative effect of accounting changes:
	Diluted	$	0.12		$	0.21		$	0.25		$	0.10		$	0.68
	Basic	$	0.12		$	0.21		$	0.25		$	0.10		$	0.68
Earnings before cumulative effect of accounting changes, excluding restructuring and impairment charges and gains on sale of businesses		$	659		$	526		$	614		$	268		$	2,067
Earnings per share before cumulative effect of accounting changes, excluding restructuring and impairment charges and gains on sale of businesses
	Diluted	$	0.31		$	0.25		$	0.29		$	0.13		$	0.98
	Basic	$	0.32		$	0.25		$	0.29		$	0.13		$	0.99
Average number of common and common equivalent shares outstanding:
	Diluted		2,111			2,105			2,107			2,093			2,104
	Basic		2,090			2,089			2,091			2,085			2,089

Pro forma results assume that the issuance of shares for the conversion of the Internet Group common stock and the closing of the GO.com property occurred at the beginning of fiscal 2001 excluding the one-time impact of those events. The pro forma results also exclude amortization of goodwill and certain intangible assets as if the new goodwill accounting rules were in effect during fiscal 2001.

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Exhibit 99(c)
The Walt Disney Company PRO FORMA CONSOLIDATED INCOME STATEMENT WORKSHEET (unaudited; in millions, except per share data)