XML 41 R29.htm IDEA: XBRL DOCUMENT v3.19.1
Revenues (Tables)
 6 Months Ended
Mar. 30, 2019
Revenue from Contract with Customer [Abstract]  
Cumulative Effect of Adoption on the Condensed Consolidated Balance Sheet The cumulative effect of adoption at September 29, 2018 and the impact at March 30, 2019 (had we not applied the new revenue guidance) on the Condensed Consolidated Balance Sheet is as follows:
 
September 29, 2018
 
March 30, 2019
 
Fiscal 2018 Ending Balances as Reported
 
Effect of Adoption
 
Q1 2019 Opening Balances
 
Balances Assuming
Historical Accounting
 
Impact of New Revenue guidance
 
Q2 2019 Ending Balances as Reported
Assets
 
 
 
 
 
 
 
 
 
 
 
Receivables - current/non-current
$
11,262

 
$
(241
)
 
$
11,021

 
16,735

 
$
(130
)
 
$
16,605

Film and television costs and advances - current/non-current
9,202

 
48

 
9,250

 
29,737

 
24

 
29,761

 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
Accounts payable and other accrued liabilities
9,479

 
1,039

 
10,518

 
19,369

 
1,134

 
20,503

Deferred revenue and other
4,591

 
(1,082
)
 
3,509

 
5,446

 
(1,165
)
 
4,281

Deferred income taxes
3,109

 
(34
)
 
3,075

 
11,236

 
(28
)
 
11,208

 
 
 
 
 
 
 
 
 
 
 
 
Equity
52,832

 
(116
)
 
52,716

 
104,387

 
(48
)
 
104,339
Financial Statement Impact Presented Under Previous Guidance The impact on the Condensed Consolidated Statement of Income for the quarter and six months ended March 30, 2019, due to the adoption of the new revenue guidance is as follows:
 
Quarter Ended March 30, 2019
 
Six Months Ended March 30, 2019
 
Results Assuming
Historical Accounting
 
Impact of New Revenue guidance
 
Reported
 
Results Assuming
Historical Accounting
 
Impact of New Revenue guidance
 
Reported
Revenues
$
14,901

 
$
21

 
$
14,922

 
$
30,010

 
$
215

 
$
30,225

Cost and Expenses
(11,483
)
 
(48
)
 
(11,531
)
 
(23,289
)
 
(127
)
 
(23,416
)
Income Taxes
(1,653
)
 
6

 
(1,647
)
 
(2,272
)
 
(20
)
 
(2,292
)
Consolidated Net Income
5,632

 
(21
)
 
5,611

 
8,329

 
68

 
8,397
Disaggregation of Revenue by Major Source The following table presents our revenues by segment and major source:
 
Quarter Ended March 30, 2019
 
Media
Networks
 
Parks, Experiences and Products
 
Studio
Entertainment
 
Direct-to-Consumer & International
 
21CF
 
Eliminations
 
Consolidated
Affiliate fees
$
3,177

 
$
—

 
$
—

 
$
335

 
$
134

 
$
(12
)
 
$
3,634

Advertising
1,596

 
1

 
—

 
357

 
118

 
—

 
2,072

Theme park admissions
—

 
1,768

 
—

 
—

 
—

 
—

 
1,768

Resort and vacations
—

 
1,502

 
—

 
—

 
—

 
—

 
1,502

Retail and wholesale sales of merchandise, food and beverage
—

 
1,768

 
—

 
—

 
—

 
—

 
1,768

TV/SVOD distribution licensing
678

 
—

 
709

 
24

 
91

 
(222
)
 
1,280

Theatrical distribution licensing
—

 
—

 
745

 
—

 
7

 
—

 
752

Merchandise licensing
—

 
635

 
126

 
12

 
—

 
—

 
773

Home entertainment
—

 
—

 
263

 
21

 
10

 
—

 
294

Other
74

 
495

 
291

 
206

 
13

 
—

 
1,079

Total revenues
$
5,525

 
$
6,169

 
$
2,134

 
$
955

 
$
373

 
$
(234
)
 
$
14,922

 
Quarter Ended March 31, 2018(1)
 
Media
Networks
 
Parks, Experiences and Products
 
Studio
Entertainment
 
Direct-to-Consumer & International
 
21CF
 
Eliminations
 
Consolidated
Affiliate fees
$
3,043

 
$
—

 
$
—

 
$
354

 
$
—

 
$
—

 
$
3,397

Advertising
1,643

 
2

 
—

 
301

 
—

 
—

 
1,946

Theme park admissions
—

 
1,690

 
—

 
—

 
—

 
—

 
1,690

Resort and vacations
—

 
1,461

 
—

 
—

 
—

 
—

 
1,461

Retail and wholesale sales of merchandise, food and beverage
—

 
1,707

 
—

 
—

 
—

 
—

 
1,707

TV/SVOD distribution licensing
761

 
—

 
619

 
28

 
—

 
(193
)
 
1,215

Theatrical distribution licensing
—

 
—

 
956

 
—

 
—

 
—

 
956

Merchandise licensing
—

 
625

 
139

 
19

 
—

 
—

 
783

Home entertainment
—

 
—

 
471

 
24

 
—

 
—

 
495

Other
61

 
418

 
314

 
105

 
—

 
—

 
898

Total revenues
$
5,508

 
$
5,903

 
$
2,499

 
$
831

 
$
—

 
$
(193
)
 
$
14,548

(1) 
Amounts presented are based on our historical accounting prior to the adoption of the new revenue guidance.
 
Six Months Ended March 30, 2019
 
Media
Networks
 
Parks, Experiences and Products
 
Studio
Entertainment
 
Direct-to-Consumer & International
 
21CF
 
Eliminations
 
Consolidated
Affiliate fees
$
6,252

 
$
—

 
$
—

 
$
658

 
$
134

 
$
(12
)
 
$
7,032

Advertising
3,619

 
3

 
—

 
774

 
118

 
—

 
4,514

Theme park admissions
—

 
3,701

 
—

 
—

 
—

 
—

 
3,701

Resort and vacations
—

 
3,033

 
—

 
—

 
—

 
—

 
3,033

Retail and wholesale sales of merchandise, food and beverage
—

 
3,890

 
—

 
—

 
—

 
—

 
3,890

TV/SVOD distribution licensing
1,400

 
—

 
1,314

 
58

 
91

 
(406
)
 
2,457

Theatrical distribution licensing
—

 
—

 
1,118

 
—

 
7

 
—

 
1,125

Merchandise licensing
—

 
1,376

 
280

 
27

 
—

 
—

 
1,683

Home entertainment
—

 
—

 
688

 
49

 
10

 
—

 
747

Other
175

 
990

 
558

 
307

 
13

 
—

 
2,043

Total revenues
$
11,446

 
$
12,993

 
$
3,958

 
$
1,873

 
$
373

 
$
(418
)
 
$
30,225

 
Six Months Ended March 31, 2018(1)
 
Media
Networks
 
Parks, Experiences and Products
 
Studio
Entertainment
 
Direct-to-Consumer & International
 
21CF
 
Eliminations
 
Consolidated
Affiliate fees
$
5,910

 
$
—

 
$
—

 
$
692

 
$
—

 
$
—

 
$
6,602

Advertising
3,606

 
4

 
—

 
712

 
—

 
—

 
4,322

Theme park admissions
—

 
3,522

 
—

 
—

 
—

 
—

 
3,522

Resort and vacations
—

 
2,924

 
—

 
—

 
—

 
—

 
2,924

Retail and wholesale sales of merchandise, food and beverage
—

 
3,766

 
—

 
—

 
—

 
—

 
3,766

TV/SVOD distribution licensing
1,385

 
—

 
1,138

 
53

 
—

 
(364
)
 
2,212

Theatrical distribution licensing
—

 
—

 
2,125

 
—

 
—

 
—

 
2,125

Merchandise licensing
—

 
1,401

 
310

 
37

 
—

 
—

 
1,748

Home entertainment
—

 
—

 
832

 
54

 
—

 
—

 
886

Other
162

 
813

 
603

 
214

 
—

 
—

 
1,792

Total revenues
$
11,063

 
$
12,430

 
$
5,008

 
$
1,762

 
$
—

 
$
(364
)
 
$
29,899

(1) 
Amounts presented are based on our historical accounting prior to the adoption of the new revenue guidance.
Disaggregation of Revenue by Geographical Markets The following table presents our revenues by segment and primary geographical markets:
 
Quarter Ended March 30, 2019
 
Media
Networks
 
Parks, Experiences and Products
 
Studio
Entertainment
 
Direct-to-Consumer & International
 
21CF
 
Eliminations
 
Consolidated
United States and Canada
$
5,307

 
$
4,700

 
$
1,066

 
$
294

 
$
149

 
$
(208
)
 
$
11,308

Europe
167

 
631

 
550

 
147

 
68

 
(22
)
 
1,541

Asia Pacific
47

 
789

 
393

 
135

 
121

 
(4
)
 
1,481

Latin America
4

 
49

 
125

 
379

 
35

 
—

 
592

Total revenues
$
5,525

 
$
6,169

 
$
2,134

 
$
955

 
$
373

 
$
(234
)
 
$
14,922

 
Six months ended March 30, 2019
 
Media
Networks
 
Parks, Experiences and Products
 
Studio
Entertainment
 
Direct-to-Consumer & International
 
21CF
 
Eliminations
 
Consolidated
United States and Canada
$
10,995

 
$
9,841

 
$
2,104

 
$
519

 
$
149

 
$
(372
)
 
$
23,236

Europe
309

 
1,486

 
963

 
336

 
68

 
(37
)
 
3,125

Asia Pacific
110

 
1,550

 
679

 
269

 
121

 
(9
)
 
2,720

Latin America
32

 
116

 
212

 
749

 
35

 
—

 
1,144

Total revenues
$
11,446

 
$
12,993

 
$
3,958

 
$
1,873

 
$
373

 
$
(418
)
 
$
30,225
Contract with Customer, Asset and Liability Contract assets, accounts receivable and deferred revenues from contracts with customers are as follows:
 
March 30,
2019
 
September 30,
2018
Contract assets
$
110

 
$
89

Accounts Receivable
 
 
 
Current
13,565

 
8,553

Non-current
2,318

 
1,640

Allowance for doubtful accounts
(263
)
 
(226
)
Deferred revenues
 
 
 
Current
3,950

 
2,926

Non-current
572

 
609