Dispositions and Other Income/(Expense)

12 Months Ended

Oct. 01, 2016

Other Income and Expenses [Abstract]

Dispositions and Other Income/(Expense)

Dispositions and Other Expense, net

Other expense, net is as follows:

	2016		2015		2014
Venezuelan foreign currency translation loss	$	—	$	—	$	(143	)
Gain on sale of property and other	—		—		112
Other expense, net	$	—	$	—	$	(31	)

Venezuela foreign currency loss

The Company has operations in Venezuela, including film and television distribution and merchandise licensing and has net monetary assets denominated in Venezuelan bolivares (BsF), which primarily consist of cash. The Venezuelan government (Government) has foreign currency exchange controls, which provide different exchange mechanisms that impact the Company’s ability to convert its BsF denominated monetary assets to U.S. dollars. During fiscal 2014, the Government launched a new currency exchange mechanism, and the Company began translating its BsF denominated net monetary assets at the rates determined in this market resulting in a loss of $143 million reported in “Other expense, net” in the Consolidated Statement of Income. In fiscal 2015 and 2016, the Government introduced additional exchange mechanisms (including the Divisa Comercial “DICOM”) resulting in immaterial losses in those fiscal years, which are included in “Costs and expenses” in the Consolidated Statements of Income. At October 1, 2016, the Company translated its approximately 4.3 billion BsF denominated net monetary assets using rates determined by the Venezuelan DICOM market (656 BsF per U.S. dollar).

Gain on sale of property and other

In fiscal 2014, the Company recognized $83 million of gains primarily due to the sale of a property and $29 million for a portion of a settlement of an affiliate contract dispute.