XML 27 R12.htm IDEA: XBRL DOCUMENT v3.23.3
Revenues
 12 Months Ended
Sep. 30, 2023
Revenue from Contract with Customer [Abstract]  
Revenue from Contract with Customer [Text Block] Revenues
The following table presents our revenues by segment and major source:
2023
Entertainment
Sports
Experiences
Eliminations
Total
Affiliate fees$7,369$10,590$—$(1,084)$16,875
Subscription fees16,4201,517——17,937
Advertising7,5943,9204—11,518
Theme park admissions——10,423—10,423
Resort and vacations——7,949—7,949
Retail and wholesale sales of merchandise, food and beverage——8,921—8,921
Merchandise licensing619—2,509—3,128
TV/VOD distribution licensing
2,645347——2,992
Theatrical distribution licensing3,174———3,174
Home entertainment931———931
Other1,8837372,743(313)5,050
$40,635$17,111$32,549$(1,397)$88,898
2022
Entertainment
Sports
Experiences
Eliminations and Other
Total
Affiliate fees$7,739$10,796$—$(1,010)$17,525
Subscription fees14,1781,113——15,291
Advertising8,6744,3704—13,048
Theme park admissions——8,602—8,602
Resort and vacations——6,410—6,410
Retail and wholesale sales of merchandise, food and beverage——7,838—7,838
Merchandise licensing620—3,349—3,969
TV/VOD distribution licensing
3,551351—(1,023)2,879
Theatrical distribution licensing1,875———1,875
Home entertainment1,083———1,083
Other1,8496401,882(169)4,202
$39,569$17,270$28,085$(2,202)$82,722
2021
Entertainment
Sports
Experiences
Eliminations
Total
Affiliate fees$8,043$10,609$—$(892)$17,760
Subscription fees11,295725——12,020
Advertising8,7053,7204—12,429
Theme park admissions——3,848—3,848
Resort and vacations——2,701—2,701
Retail and wholesale sales of merchandise, food and beverage——4,957—4,957
Merchandise licensing603—2,995—3,598
TV/VOD distribution licensing
4,366429——4,795
Theatrical distribution licensing920———920
Home entertainment1,297———1,297
Other1,2604771,456(100)3,093
$36,489$15,960$15,961$(992)$67,418
The following table presents our revenues by segment and primary geographical markets:
2023
Entertainment
Sports
Experiences
Eliminations
Total
Americas$31,414$16,000$25,188$(1,397)$71,205
Europe5,4753703,688—9,533
Asia Pacific3,7467413,673—8,160
$40,635$17,111$32,549$(1,397)$88,898
2022
Entertainment
Sports
Experiences
Eliminations
Total
Americas$30,841$15,666$22,890$(1,179)$68,218
Europe5,0983963,186—8,680
Asia Pacific3,6301,2082,009—6,847
$39,569$17,270$28,085$(1,179)83,745
Content License Early Termination(1,023)
$82,722
2021
Entertainment
Sports
Experiences
Eliminations
Total
Americas28,469$14,533$12,147$(992)$54,157
Europe4,8363461,508—6,690
Asia Pacific3,1841,0812,306—6,571
$36,489$15,960$15,961$(992)$67,418
Revenues recognized in the current and prior year from performance obligations satisfied (or partially satisfied) in previous reporting periods primarily relate to revenues earned on TV/VOD licenses for titles made available to the licensee in previous reporting periods. For fiscal 2023, $0.9 billion was recognized related to performance obligations satisfied prior to October 1, 2022. For fiscal 2022, $1.1 billion was recognized related to performance obligations satisfied prior to October 2, 2021. For fiscal 2021, $1.3 billion was recognized related to performance obligations satisfied prior to October 3, 2020.
As of September 30, 2023, revenue for unsatisfied performance obligations expected to be recognized in the future is $15 billion, which primarily relates to content and other IP to be delivered in the future under existing agreements with merchandise and co-branding licensees and sponsors, television station affiliates, DTC wholesalers, sports sublicensees and advertisers. Of this amount, we expect to recognize approximately $6 billion in fiscal 2024, $4 billion in fiscal 2025, $2 billion in fiscal 2026 and $3 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. The Company’s contract assets and activity for the current and prior-year periods were not material. Accounts receivable and deferred revenues from contracts with customers are as follows:
September 30,
2023		October 1,
2022
Accounts Receivable
Current$10,279  $10,886  
Non-current1,212  1,226  
Allowance for credit losses(154) (179) 
Deferred revenues
Current5,568  5,531  
Non-current977  927  
For fiscal 2023, 2022 and 2021, the Company recognized revenues of $5.1 billion, $3.6 billion and $2.9 billion, respectively, that was included in the deferred revenue balance at October 1, 2022, October 2, 2021 and October 3, 2020, respectively. Amounts deferred generally relate to theme park admissions and vacation packages, DTC subscriptions and advances related to merchandise and TV/VOD licenses.
The Company has accounts receivable with original maturities greater than one year related to TV/VOD sales 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/VOD licensing receivables recorded in other non-current assets was $0.6 billion at both September 30, 2023 and October 1, 2022. The balance of vacation club receivables recorded in other non-current assets was $0.7 billion and $0.6 billion at September 30, 2023 and October 1, 2022, respectively. The allowance for credit losses and activity for fiscal 2023 and 2022 was not material.