XML 25 R9.htm IDEA: XBRL DOCUMENT v3.25.0.1
Segment Information
 3 Months Ended
Dec. 28, 2024
Segment Information Segment Information
The Company’s operations are reported in three segments: Entertainment, Sports and Experiences, for which separate financial information is evaluated regularly by the Chief Executive Officer to allocate resources and assess performance.
Segment operating results reflect earnings before corporate and unallocated shared expenses, restructuring and impairment charges, net other income/expense, net interest expense, income taxes and noncontrolling interests. Segment operating income generally includes equity in the income of investees and excludes amortization of intangible assets and the fair value step-up for film and television costs recognized in connection with the acquisition of TFCF Corporation (TFCF) and Hulu in fiscal 2019 (TFCF and Hulu Acquisition Amortization). Corporate and unallocated shared expenses principally consist of corporate functions, executive management and certain unallocated administrative support functions.
Segment operating results include allocations of certain costs, including information technology, pension, legal and other shared services costs, which are allocated based on metrics designed to correlate with consumption.
Segment revenues and segment operating income are as follows:
 Quarter Ended
 December 28,
2024		December 30,
2023
Revenues:
Entertainment
Third parties$10,761   $9,881   
Intersegment111   100   
10,872   9,981   
Sports
Third parties4,514   4,536   
Intersegment336   299   
4,850   4,835   
Experiences9,415   9,132   
Eliminations(447)  (399)  
Total segment revenues$24,690   $23,549   
Segment operating income (loss):
Entertainment$1,703   $874   
Sports247   (103)  
Experiences3,110   3,105   
Total segment operating income
$5,060   $3,876   
Equity in the income of investees is included in segment operating income as follows:
 Quarter Ended
 December 28,
2024		December 30,
2023
Entertainment$118   $171   
Sports10 13  
Equity in the income of investees included in segment operating income128 184 
Equity in the loss of India joint venture
(33)— 
Amortization of TFCF intangible assets related to an equity investee
(3)(3)
Equity in the income of investees, net$92 $181 
A reconciliation of segment operating income to income before income taxes is as follows:
 Quarter Ended
 December 28,
2024		December 30,
2023
Segment operating income$5,060 $3,876   
Corporate and unallocated shared expenses(460)  (308)
Equity in the loss of India joint venture(33)— 
Restructuring and impairment charges(1)
(143)— 
Interest expense, net(367)(246)
TFCF and Hulu Acquisition Amortization(2)
(397)(451)
Income (loss) before income taxes
$3,660 $2,871 
(1)See Note 4 for a discussion of amounts in restructuring and impairment charges.
(2)TFCF and Hulu Acquisition Amortization is as follows:
Quarter Ended
December 28,
2024		December 30,
2023
Amortization of intangible assets$327 $380   
Step-up of film and television costs67   68 
Intangibles related to a TFCF equity investee
3   3 
$397 $451 
Goodwill
The changes in the carrying amount of goodwill are as follows:
EntertainmentSportsExperiencesTotal
Balance at September 28, 2024$51,290 $16,486 $5,550 $73,326 
Currency translation adjustments and other, net(14)— — (14)
Balance at December 28, 2024$51,276 $16,486 $5,550 $73,312