International Theme Park Investments (Tables)

3 Months Ended

Dec. 28, 2013

Consolidating Balance Sheets

Impact of Consolidating Financial Statements of International Theme Parks

The following tables present summarized balance sheet information for the Company as of December 28, 2013 and September 28, 2013, reflecting the impact of consolidating the International Theme Parks balance sheets.



	As of December 28, 2013
	Before International Theme Parks Consolidation		International Theme Parks and Adjustments			Total
Cash and cash equivalents	$	3,785	$	612		$	4,397
Other current assets	11,111		255			11,366
Total current assets	14,896		867			15,763
Investments/Advances	6,524		(3,740		)	2,784
Parks, resorts and other property	17,017		5,550			22,567
Other assets	42,021		31			42,052
Total assets	$	80,458	$	2,708		$	83,166

Current portion of borrowings	$	3,687	$	—		$	3,687
Other current liabilities	11,520		489			12,009
Total current liabilities	15,207		489			15,696
Borrowings	11,449		265			11,714
Deferred income taxes and other long-term liabilities	8,306		154			8,460
Equity	45,496		1,800			47,296
Total liabilities and equity	$	80,458	$	2,708		$	83,166



	As of September 28, 2013
	Before International Theme Parks Consolidation		International Theme Parks and Adjustments			Total
Cash and cash equivalents	$	3,325	$	606		$	3,931
Other current assets	9,896		282			10,178
Total current assets	13,221		888			14,109
Investments/Advances	6,415		(3,566		)	2,849
Parks, resorts and other property	17,117		5,263			22,380
Other assets	41,879		24			41,903
Total assets	$	78,632	$	2,609		$	81,241

Current portion of borrowings	$	1,512	$	—		$	1,512
Other current liabilities	9,622		570			10,192
Total current liabilities	11,134		570			11,704
Borrowings	12,501		275			12,776
Deferred income taxes and other long-term liabilities	8,466		145			8,611
Equity	46,531		1,619			48,150
Total liabilities and equity	$	78,632	$	2,609		$	81,241

Consolidating Income Statements

Impact of Consolidating Financial Statements of International Theme Parks

The following table presents summarized income statement information of the Company for the quarter ended December 28, 2013, reflecting the impact of consolidating the International Theme Parks income statements.



	Before International Theme Parks Consolidation⁽¹⁾			International Theme Parks and Adjustments			Total
Revenues	$	11,745		$	564		$	12,309
Cost and expenses	(9,086		)	(558		)	(9,644		)
Restructuring and impairment charges	(19		)	—			(19		)
Other income/(expense), net	6			—			6
Interest income/(expense), net	65			(16		)	49
Equity in the income of investees	235			4			239
Income before income taxes	2,946			(6		)	2,940
Income taxes	(1,036		)	—			(1,036		)
Net income	$	1,910		$	(6	)	$	1,904


⁽¹⁾	These amounts include the International Theme Parks under the equity method of accounting. As such, royalty and management fee income from these operations is included in Revenues and our share of their net income/(loss) is included in Equity in the income of investees. There were $14 million of royalties and management fees recognized for the quarter ended December 28, 2013.

Consolidating Cash Flow Statements

Impact of Consolidating Financial Statements of International Theme Parks

The following table presents summarized cash flow statement information of the Company for the quarter ended December 28, 2013, reflecting the impact of consolidating the International Theme Parks cash flow statements.



	Before International Theme Parks Consolidation			International Theme Parks and Adjustments			Total
Cash provided by/(used in) operations	$	1,268		$	(56	)	$	1,212
Investments in parks, resorts and other property	(334		)	(324		)	(658		)
Cash (used in)/provided by other investing activities	(71		)	202			131
Cash (used in)/provided by financing activities	(417		)	180			(237		)
Impact of exchange rates on cash and cash equivalents	14			4			18
Increase in cash and cash equivalents	460			6			466
Cash and cash equivalents, beginning of period	3,325			606			3,931
Cash and cash equivalents, end of period	$	3,785		$	612		$	4,397

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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