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Revenues
 9 Months Ended
Jul. 02, 2022
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer Revenues
The following table presents our revenues by segment and major source:
Quarter Ended July 2, 2022Quarter Ended July 3, 2021
DMEDDPEPContent License Early TerminationTotalDMEDDPEPTotal
Affiliate fees$4,337$— $— $4,337 $4,431 $— $4,431 
Advertising3,5341 — 3,535 3,163 — 3,163 
Subscription fees3,889— — 3,889 3,156 — 3,156 
Theme park admissions—2,312 — 2,312 — 1,152 1,152 
Resort and vacations—1,805 — 1,805 — 776 776 
Retail and wholesale sales of merchandise, food and beverage—1,896    —    1,896    —    1,262 1,262 
TV/SVOD distribution licensing1,119— — 1,119 1,230 —    1,230    
Theatrical distribution licensing620— — 620 140 — 140 
Merchandise licensing—916 — 916 1 789 790 
Home entertainment149— — 149 236 — 236 
Other462464 — 926 324 362 686 
$14,110$7,394 $— $21,504 $12,681 $4,341 $17,022 
Nine Months Ended July 2, 2022Nine Months Ended July 3, 2021
DMEDDPEPContent License Early TerminationTotalDMEDDPEPTotal
Affiliate fees$13,310$— $— $13,310 $13,427 $— $13,427 
Advertising10,4253 — 10,428 9,508 2 9,510 
Subscription fees11,374— — 11,374 8,702 — 8,702 
Theme park admissions—6,437—6,437 — 2,298 2,298 
Resort and vacations—4,701—4,701 — 1,722 1,722 
Retail and wholesale sales of merchandise, food and beverage—5,801—5,801 —    3,336 3,336 
TV/SVOD distribution licensing3,639—(1,023)2,616 4,023 —    4,023    
Theatrical distribution licensing1,373——1,373 280 — 280 
Merchandise licensing—2,928— 2,928 11 2,670 2,681 
Home entertainment673—— 673 755 — 755 
Other1,5211,410— 2,931 1,076 1,074 2,150 
$42,315$21,280$(1,023)$62,572 $37,782 $11,102 $48,884 
The following table presents our revenues by segment and primary geographical markets:
Quarter Ended July 2, 2022Quarter Ended July 3, 2021
DMEDDPEPTotalDMEDDPEPTotal
Americas$11,444 $6,130 $17,574 $10,409 $3,295 $13,704 
Europe1,230    897    2,127    1,209    308    1,517    
Asia Pacific1,436 367 1,803 1,063 738 1,801 
Total revenues$14,110 $7,394 $21,504 $12,681 $4,341 $17,022 
Content License Early Termination— 
$21,504 
Nine Months Ended July 2, 2022Nine Months Ended July 3, 2021
DMEDDPEPTotalDMEDDPEPTotal
Americas$34,465 $17,400 $51,865 $30,993 $8,165 $39,158 
Europe4,111    2,389    6,500    3,721    1,062    4,783    
Asia Pacific3,739 1,491 5,230 3,068 1,875 4,943 
Total revenues$42,315 $21,280 $63,595 $37,782 $11,102 $48,884 
Content License Early Termination(1,023)
$62,572 
Revenues recognized in the current and prior-year periods from performance obligations satisfied (or partially satisfied) in previous reporting periods primarily relate to revenues earned on TV/SVOD licenses for titles made available to the licensee in previous reporting periods. For the quarter ended July 2, 2022, $0.3 billion was recognized related to performance obligations satisfied as of April 2, 2022. For the nine months ended July 2, 2022, $0.9 billion was recognized related to performance obligations satisfied as of October 2, 2021. For the quarter ended July 3, 2021, $0.3 billion was recognized related to performance obligations satisfied as of April 3, 2021. For the nine months ended July 3, 2021, $1.0 billion was related to performance obligations satisfied as of October 3, 2020.
As of July 2, 2022, revenue for unsatisfied performance obligations expected to be recognized in the future is $12 billion, primarily for content and other IP to be made available in the future under existing agreements with television station affiliates, merchandise licensees and DTC subscribers. Of this amount, we expect to recognize approximately $2 billion in the remainder of fiscal 2022, $5 billion in fiscal 2023, $3 billion in fiscal 2024 and $2 billion thereafter. These amounts include only fixed consideration or minimum guarantees and do not include amounts related to (i) contracts with an original expected term of one year or less (such as most advertising contracts) or (ii) licenses of IP that are solely based on the sales of the licensee.
When the timing of the Company’s revenue recognition is different from the timing of customer payments, the Company recognizes either a contract asset (customer payment is subsequent to revenue recognition and subject to the Company satisfying additional performance obligations) or deferred revenue (customer payment precedes the Company satisfying the performance obligations). Consideration due under contracts with payment in arrears is recognized as accounts receivable. Deferred revenues are recognized as (or when) the Company performs under the contract.
Contract assets, accounts receivable and deferred revenues from contracts with customers are as follows:
July 2,
2022		October 2,
2021
Contract assets$74 $155 
Accounts receivable
Current11,891   11,190   
Non-current1,284 1,359 
Allowance for credit losses(198)(194)
Deferred revenues
Current4,060 4,067 
Non-current448 581 
Contract assets primarily relate to certain multi-season TV/SVOD licensing contracts. Activity for the current and prior-year periods related to contract assets was not material.
For the quarter and nine months ended July 2, 2022, the Company recognized revenue of $0.4 billion and $3.2 billion, respectively, that was included in the October 2, 2021 deferred revenue balance. For the quarter and nine months ended July 3, 2021, the Company recognized revenue of $0.4 billion and $2.5 billion, respectively, that was included in the October 3, 2020 deferred revenue balance. Amounts deferred generally relate to DTC subscriptions, TV/SVOD licenses and advances from merchandise licensees.
We evaluate our allowance for credit losses and estimate collectability of current and non-current accounts receivable based on historical bad debt experience, our assessment of the financial condition of individual companies with which we do business, current market conditions, and reasonable and supportable forecasts of future economic conditions. In times of economic turmoil, our estimates and judgments with respect to the collectability of our receivables are subject to greater uncertainty than in more stable periods.
The Company has accounts receivable with original maturities greater than one year related to the sale of film and television program rights (TV/SVOD licensing) and vacation club properties. These receivables are discounted to present value at contract inception and the related revenues are recognized at the discounted amount. The balance of TV/SVOD licensing receivables recorded in other non-current assets was $0.7 billion and $0.8 billion at July 2, 2022 and October 2, 2021, respectively. The balance of vacation club receivables recorded in other non-current assets was $0.6 billion at both July 2, 2022 and October 2, 2021. The allowance for credit losses and activity for the period ended July 2, 2022 was not material.