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Description of the Business and Segment Information (Tables)
 12 Months Ended
Sep. 28, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Financial Information by Operating Segments
The following tables provide select segment and regional financial information:
 
2019
 
2018
 
2017
Revenues
 
 
 
 
 
Media Networks
$
24,827

 
$
21,922

 
$
21,299

Parks, Experiences and Products
 
 
 
 
 
Third parties
26,786

 
25,257

 
23,516

Intersegment
(561
)
 
(556
)
 
(492
)
 
26,225

 
24,701

 
23,024

Studio Entertainment
 
 
 
 
 
Third parties
10,566

 
9,509

 
7,860

Intersegment
561

 
556

 
492

 
11,127

 
10,065

 
8,352

 
 
 
 
 
 
Direct-to-Consumer & International
9,349

 
3,414

 
3,075

Eliminations(1)
(1,958
)
 
(668
)
 
(613
)
Total consolidated revenues
$
69,570

 
$
59,434

 
$
55,137

Segment operating income / (loss)
 
 
 
 
 
Media Networks
$
7,479

 
$
7,338

 
$
7,196

Parks, Experiences and Products
6,758

 
6,095

 
5,487

Studio Entertainment
2,686

 
3,004

 
2,363

Direct-to-Consumer & International
(1,814
)
 
(738
)
 
(284
)
Eliminations(1)
(241
)
 
(10
)
 
13

Total segment operating income(2)
$
14,868

 
$
15,689

 
$
14,775

Reconciliation of segment operating income to income from continuing operations before income taxes
 
 
 
 
 
Segment operating income
$
14,868

 
$
15,689

 
$
14,775

Corporate and unallocated shared expenses
(987
)
 
(744
)
 
(582
)
Restructuring and impairment charges
(1,183
)
 
(33
)
 
(98
)
Other income, net
4,357

 
601

 
78

Interest expense, net
(978
)
 
(574
)
 
(385
)
Amortization of TFCF and Hulu intangible assets and fair value step-up on film and television costs(3)
(1,595
)
 
—

 
—

Impairment of equity investments(4)
(538
)
 
(210
)
 
—

Income from continuing operations before income taxes
$
13,944

 
$
14,729

 
$
13,788

Capital expenditures
 
 
 
 
 
Media Networks
 
 
 
 
 
Cable Networks
$
93

 
$
96

 
$
64

Broadcasting
81

 
107

 
67

Parks, Experiences and Products
 
 
 
 
 
Domestic
3,294

 
3,223

 
2,392

International
852

 
677

 
827

Studio Entertainment
88

 
96

 
85

Direct-to-Consumer & International
258

 
107

 
30

Corporate
210

 
159

 
158

Total capital expenditures
$
4,876

 
$
4,465

 
$
3,623


 
2019
 
2018
 
2017
Depreciation expense
 
 
 
 
 
Media Networks
$
191

 
$
199

 
$
206

Parks, Experiences and Products
 
 
 
 
 
Domestic
1,474

 
1,449

 
1,371

International
724

 
768

 
679

Studio Entertainment
74

 
55

 
50

Direct-to-Consumer & International
207

 
106

 
74

Depreciation expense included in segment operating income
2,670

 
2,577

 
2,380

Corporate
167

 
181

 
206

Total depreciation expense
$
2,837

 
$
2,758

 
$
2,586

Amortization of intangible assets
 
 
 
 
 
Media Networks
$
—

 
$
—

 
$
—

Parks, Experiences and Products
108

 
110

 
111

Studio Entertainment
61

 
64

 
65

Direct-to-Consumer & International
111

 
79

 
20

Amortization of intangible assets included in segment operating income
280

 
253

 
196

TFCF and Hulu intangible assets
1,043

 
—

 
—

Total amortization of intangible assets
$
1,323

 
$
253

 
$
196

 
 
 
 
 
 
 
September 28, 2019
 
September 29, 2018
 
 
Identifiable assets(5)
 
 
 
 
 
Media Networks
$
63,519

 
$
30,205

 
 
Parks, Experiences and Products
41,923

 
39,171

 
 
Studio Entertainment
34,268

 
17,291

 
 
Direct-to-Consumer & International
48,606

 
7,257

 
 
Corporate(6)
6,135

 
4,977

 
 
Eliminations
(467
)
 
(303
)
 
 
Total consolidated assets
$
193,984

 
$
98,598

 
 
 
 
 
 
 
 
 
2019
 
2018
 
2017
Revenues
 
 
 
 
 
United States and Canada
$
50,555

 
$
45,038

 
$
41,881

Europe
8,006

 
7,026

 
6,541

Asia Pacific
7,796

 
5,531

 
5,075

Latin America and Other
3,213

 
1,839

 
1,640

 
$
69,570

 
$
59,434

 
$
55,137

Segment operating income
 
 
 
 
 
United States and Canada
$
10,031

 
$
11,396

 
$
10,962

Europe
2,433

 
1,922

 
1,812

Asia Pacific
2,167

 
1,869

 
1,626

Latin America and Other
237

 
502

 
375

 
$
14,868

 
$
15,689


$
14,775

 
September 28, 2019
 
September 29, 2018
Long-lived assets(7)
 
 
 
United States and Canada
$
134,869

 
$
65,245

Europe
10,793

 
6,275

Asia Pacific
12,703

 
7,775

Latin America and Other
3,805

 
131

 
$
162,170

 
$
79,426


(1) 
Intersegment content transaction are as follows: 
 
2019
 
2018
 
2017
Revenues:
 
 
 
 
 
Studio Entertainment:
 
 
 
 
 
Content transactions with Media Networks
$
(106
)
 
$
(169
)
 
$
(137
)
Content transactions with Direct-to-Consumer & International
(272
)
 
(28
)
 
(22
)
Media Networks:
 
 
 
 
 
Content transactions with Direct-to-Consumer & International
(1,580
)
 
(471
)
 
(454
)
Total
$
(1,958
)
 
$
(668
)
 
$
(613
)
 
 
 
 
 
 
Operating Income:
 
 
 
 
 
Studio Entertainment:
 
 
 
 
 
Content transactions with Media Networks
$
(19
)
 
$
(8
)
 
$
15

Content transactions with Direct-to-Consumer & International
(80
)
 
—

 
—

Media Networks:
 
 
 
 
 
Content transactions with Direct-to-Consumer & International
(142
)
 
(2
)
 
(2
)
Total
$
(241
)
 
$
(10
)
 
$
13



(2) 
Equity in the income/(loss) of investees included in segment operating income is as follows:
 
2019
 
2018
 
2017
Media Networks
$
703

 
$
711

 
$
766

Parks, Experiences and Products
(13
)
 
(23
)
 
(25
)
Direct-to-Consumer & International
(240
)
 
(580
)
 
(421
)
Equity in the income of investees included in segment operating income
450

 
108

 
320

Impairment of equity investments
(538
)
 
(210
)
 
—

Amortization of TFCF intangible assets related to equity investees
(15
)
 
—

 
—

Equity in the income (loss) of investees, net
$
(103
)
 
$
(102
)
 
$
320


(3) 
For fiscal 2019, amortization of intangible assets and fair value step-up on film and television costs were $1,043 million and $552 million, respectively.
(4) 
Impairment of equity investments for fiscal 2019 primarily reflects the impairments of Vice Group Holding, Inc. and of an investment in a cable channel at A+E Television Networks ($353 million and $170 million, respectively). Impairment of equity investments for fiscal 2018 reflects impairments of Vice Group Holding, Inc. and Villages Nature ($157 million and $53 million, respectively).
(5) 
Equity method investments included in identifiable assets by segment are as follows:
 
September 28, 2019
 
September 29, 2018
Media Networks
$
2,018

 
$
2,430

Parks, Experiences and Products
3

 
1

Studio Entertainment
8

 
1

Direct-to-Consumer & International
821

 
320

Corporate
72

 
16

 
$
2,922

 
$
2,768

Intangible assets included in identifiable assets by segment are as follows:
 
September 28, 2019
 
September 29, 2018
Media Networks
$
7,861

 
$
1,546

Parks, Experiences and Products
3,122

 
3,167

Studio Entertainment
2,085

 
1,479

Direct-to-Consumer & International
9,962

 
490

Corporate
185

 
130

 
$
23,215

 
$
6,812

(6) 
Primarily fixed assets and cash and cash equivalents.
(7) 
Long-lived assets are total assets less: current assets, long-term receivables, deferred taxes, financial investments and the fair value of derivative instruments.