Restructuring and Impairment Charges

9 Months Ended

Jun. 29, 2019

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure

Restructuring Charges

The Company has begun implementing a restructuring and integration plan as a part of its initiative to realize cost synergies from the acquisition of 21CF. Although our plans are not yet finalized, we currently anticipate that the total severance and related costs could be on the order of $1.5 billion. To date, we have recorded severance and related costs totaling $608 million in connection with the plan. In addition, we recorded charges totaling $261 million for equity based compensation, primarily for 21CF awards that were accelerated to vest upon the closing of the 21CF acquisition. These charges are recorded in “Restructuring and impairment charges” in the Condensed Consolidated Statements of Income. The Company may incur other costs in connection with the plan such as lease termination costs, but is unable to estimate those amounts at this time. For the prior-year quarter and nine-month period, restructuring and impairment charges were not material.

The following table summarizes the changes in restructuring reserves related to 21CF integration efforts and excludes approximately $20 million of prior restructuring activities:

	Quarter Ended June 29, 2019									Nine Months Ended June 29, 2019
	One-time Termination Benefits			Contract Termination			Total			One-time Termination Benefits			Contract Termination			Total
Beginning Balance:	$	288		$	115		$	403		$	—		$	—		$	—
Additions:
Media Networks	8			8			16			41			29			70
Parks, Experiences and Products	1			—			1			5			3			8
Studio Entertainment	24			32			56			94			55			149
Direct-to-Consumer & International	81			21			102			174			54			228
Corporate	19			11			30			107			46			153
Total Additions	133			72			205			421			187			608
Payments	(53		)	(10		)	(63		)	(53		)	(10		)	(63		)
Other	—			—			—			—			—			—
Ending Balance:	$	368		$	177		$	545		$	368		$	177		$	545