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Segment Information
 9 Months Ended
Jun. 28, 2014
Segment Information
Segment Information
The operating segments reported below are the segments of the Company for which separate financial information is available and for which segment results are evaluated regularly by the Chief Executive Officer in deciding how to allocate resources and in assessing performance. The Company reports the performance of its operating segments including equity in the income of investees. Equity in the income of investees included in segment operating results is as follows:
 
 
Quarter Ended
 
Nine Months Ended
 
June 28,
2014
 
June 29,
2013
 
June 28,
2014
 
June 29,
2013
Media Networks
 
 
 
 
 
 
 
Cable Networks
$
230

 
$
237

 
$
710

 
$
609

Broadcasting
(8
)
 
(5
)
 
(32
)
 
(28
)
Equity in the income of investees included in segment operating income
$
222

 
$
232

 
$
678

 
$
581



During the nine months ended June 29, 2013, the Company recorded a $55 million charge for our share of expense related to an equity redemption at Hulu LLC (Hulu Equity Redemption). This charge is recorded in "Equity in the income of investees" in the Condensed Consolidated Statements of Income but has been excluded from segment operating income. See Note 3 for further discussion of the transaction.
 
Quarter Ended
 
Nine Months Ended
 
June 28,
2014
 
June 29,
2013
 
June 28,
2014
 
June 29,
2013
Revenues (1):
 
 
 
 
 
 
 
Media Networks
$
5,511

 
$
5,352

 
$
15,935

 
$
15,410

Parks and Resorts
3,980

 
3,678

 
11,139

 
10,371

Studio Entertainment
1,807

 
1,590

 
5,500

 
4,473

Consumer Products
902

 
775

 
2,913

 
2,551

Interactive
266

 
183

 
937

 
668

 
$
12,466

 
$
11,578

 
$
36,424

 
$
33,473

Segment operating income (loss) (1):
 
 
 
 
 
 
 
Media Networks
$
2,296

 
$
2,300

 
$
5,884

 
$
5,376

Parks and Resorts
848

 
689

 
1,976

 
1,649

Studio Entertainment
411

 
201

 
1,295

 
553

Consumer Products
273

 
219

 
977

 
765

Interactive
29

 
(58
)
 
98

 
(103
)
 
$
3,857

 
$
3,351

 
$
10,230

 
$
8,240


(1) Studio Entertainment segment revenues and operating income include an allocation of Consumer Products revenues, which is meant to reflect royalties on sales of merchandise based on certain film properties. The increase to Studio Entertainment revenues and operating income and corresponding decrease to Consumer Products revenues and operating income totaled $66 million and $62 million for the quarters ended June 28, 2014 and June 29, 2013, respectively, and $187 million and $165 million for the nine months ended June 28, 2014 and June 29, 2013, respectively.
A reconciliation of segment operating income to income before income taxes is as follows:
 
Quarter Ended
 
Nine Months Ended
 
June 28,
2014
 
June 29,
2013
 
June 28,
2014
 
June 29,
2013
Segment operating income
$
3,857

 
$
3,351

 
$
10,230

 
$
8,240

Corporate and unallocated shared expenses
(137
)
 
(115
)
 
(408
)
 
(367
)
Restructuring and impairment charges
—

 
(60
)
 
(67
)
 
(121
)
Other income/(expense), net
—

 
—

 
(31
)
 
(92
)
Interest income/(expense), net
(50
)
 
(83
)
 
61

 
(209
)
Hulu Equity Redemption
—

 
—

 
—

 
(55
)
Income before income taxes
$
3,670

 
$
3,093

 
$
9,785

 
$
7,396