Walt Disney Co. Files 10-Q for Period Ending December 30, 2023

TL;DR

<b>Walt Disney Co. filed its Q1 2024 10-Q report, detailing financial performance for the quarter ending December 30, 2023.</b>

AI Summary

Walt Disney Co (DIS) filed a Quarterly Report (10-Q) with the SEC on February 7, 2024. The Walt Disney Company filed a 10-Q report for the period ending December 30, 2023. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on September 28. The report details financial information for the periods ending December 30, 2023, and December 31, 2022. The company's principal executive offices are located in Burbank, California.

Why It Matters

For investors and stakeholders tracking Walt Disney Co, this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial results, offering insights into the company's performance and operational status. Understanding the details within this report is crucial for assessing Disney's current financial health, revenue streams, and potential future trajectory in the entertainment industry.

Risk Assessment

Risk Level: medium — Walt Disney Co shows moderate risk based on this filing. The filing is a standard quarterly report (10-Q), which typically contains routine financial information and does not indicate significant new risks or positive developments beyond normal business operations.

Analyst Insight

Review the detailed financial statements and segment reporting within the 10-Q to understand revenue trends and profitability across Disney's various business segments.

Key Numbers

• 2023-12-30 — Period End Date (Quarterly period ending date)
• 2024-02-07 — Filing Date (Date the 10-Q was filed)
• 0.655% — Variable Spread Minimum (Minimum fixed spread on borrowings based on debt ratings)
• 1.225% — Variable Spread Maximum (Maximum fixed spread on borrowings based on debt ratings)

Key Players & Entities

• Walt Disney Co (company) — Filer of the 10-Q report
• Moody's Investors Service (company) — Credit rating agency mentioned in relation to debt ratings
• Standard and Poor's (company) — Credit rating agency mentioned in relation to debt ratings

FAQ

Risk Factors

• Borrowing Facilities and Interest Rates [medium — financial]: The company utilizes borrowing facilities with variable rates based on SOFR and other rates, plus a fixed spread that ranges from 0.655% to 1.225% depending on its debt ratings.

Industry Context

The Walt Disney Company operates within the broad entertainment and media industry, encompassing theme parks, film production, television broadcasting, and direct-to-consumer streaming services.

Regulatory Implications

As a publicly traded company, Walt Disney Co. is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Analyze the revenue and profitability figures for each business segment (e.g., Entertainment, Sports, Experiences).
2. Examine the company's debt structure and liquidity position as detailed in the financial statements.
3. Compare the current quarter's performance against the same quarter in the previous year to identify trends and growth drivers.

Key Dates

• 2023-12-30: Quarter End — End of the reporting period for the 10-Q
• 2024-02-07: Filing Date — Date the 10-Q was officially submitted to the SEC

Glossary

SOFR

Secured Overnight Financing Rate (A key benchmark interest rate used for variable rate borrowings by the company.)

10-Q

Quarterly Report (A mandatory SEC filing providing a comprehensive overview of a company's financial performance during a specific quarter.)

Year-Over-Year Comparison

This filing represents the quarterly update for the period ending December 30, 2023, providing the latest financial data compared to the prior fiscal year's reporting periods.

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value DIS New York Stock Exchange

Filing Documents

• dis-20231230.htm (10-Q) — 2086KB
• fy2024_q1x10qxex101.htm (EX-10.1) — 48KB
• fy2024_q1x10qxex103.htm (EX-10.3) — 13KB
• fy2024_q1x10qxex104.htm (EX-10.4) — 49KB
• fy2024_q1x10qxex106.htm (EX-10.6) — 48KB
• fy2024_q1x10qxex107.htm (EX-10.7) — 48KB
• fy2024_q1x10qxex108.htm (EX-10.8) — 27KB
• fy2024_q1x10qxex109.htm (EX-10.9) — 62KB
• fy2024_q1x10qxex22.htm (EX-22) — 3KB
• fy2024_q1x10qxex31a.htm (EX-31.A) — 12KB
• fy2024_q1x10qxex31b.htm (EX-31.B) — 12KB
• fy2024_q1x10qxex32a.htm (EX-32.A) — 5KB
• fy2024_q1x10qxex32b.htm (EX-32.B) — 6KB
• dis-20231230_g1.jpg (GRAPHIC) — 70KB
• 0001744489-24-000081.txt (&nbsp;) — 10923KB
• dis-20231230.xsd (EX-101.SCH) — 61KB
• dis-20231230_cal.xml (EX-101.CAL) — 73KB
• dis-20231230_def.xml (EX-101.DEF) — 443KB
• dis-20231230_lab.xml (EX-101.LAB) — 698KB
• dis-20231230_pre.xml (EX-101.PRE) — 512KB
• dis-20231230_htm.xml (XML) — 1959KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

: Financial Statements

Item 1: Financial Statements THE WALT DISNEY COMPANY CONDENSED CONSOLIDATED STATEMENTS OF INCOME (unaudited; in millions, except per share data) Quarter Ended December 30, 2023 December 31, 2022 Revenues: Services $ 20,975 $ 20,997 Products 2,574 2,515 Total revenues 23,549 23,512 Costs and expenses: Cost of services (exclusive of depreciation and amortization) ( 13,922 ) ( 14,781 ) Cost of products (exclusive of depreciation and amortization) ( 1,665 ) ( 1,605 ) Selling, general, administrative and other ( 3,783 ) ( 3,827 ) Depreciation and amortization ( 1,243 ) ( 1,306 ) Total costs and expenses ( 20,613 ) ( 21,519 ) Restructuring and impairment charges — ( 69 ) Other expense, net — ( 42 ) Interest expense, net ( 246 ) ( 300 ) Equity in the income of investees 181 191 Income before income taxes 2,871 1,773 Income taxes ( 720 ) ( 412 ) Net income 2,151 1,361 Net income attributable to noncontrolling interests ( 240 ) ( 82 ) Net income attributable to Disney $ 1,911 $ 1,279 Earnings per share attributable to Disney: Diluted $ 1.04 $ 0.70 Basic $ 1.04 $ 0.70 Weighted average number of common and common equivalent shares outstanding: Diluted 1,835 1,827 Basic 1,832 1,825 See Notes to Condensed Consolidated Financial Statements 3 THE WALT DISNEY COMPANY CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited; in millions) Quarter Ended December 30, 2023 December 31, 2022 Net income $ 2,151 $ 1,361 Other comprehensive income (loss), net of tax: Market value adjustments for hedges ( 319 ) ( 542 ) Pension and postretirement medical plan adjustments ( 21 ) 1 Foreign currency translation and other 174 227 Other comprehensive loss ( 166 ) ( 314 ) Comprehensive income 1,985 1,047 Net income attributable to noncontrolling interests ( 240 ) ( 82 ) Other comprehensive income attributable to noncontrolling interests ( 44 ) ( 45 ) Comprehensive income attributable to Disney $ 1,701 $ 920 See Notes

View Full Filing

View this 10-Q filing on SEC EDGAR