Disney 10-Q: Credit Facility Details and Debt Ratings
Ticker: DIS · Form: 10-Q · Filed: 2025-02-05T00:00:00.000Z
Sentiment: neutral
Topics: credit-facility, debt-ratings, interest-rates
TL;DR
Disney's credit facilities have variable rates tied to SOFR + 0.655%-1.225% spread based on debt ratings.
AI Summary
The Walt Disney Co. filed a 10-Q for the period ending December 28, 2024. The filing details their credit facilities, which allow for borrowings based on SOFR and other variable rates, with fixed spreads ranging from 0.655% to 1.225% depending on their debt ratings from Moody's and S&P Global Ratings. The company's fiscal year ends on September 27.
Why It Matters
This filing provides insight into Disney's borrowing costs and financial flexibility, which can impact its ability to fund operations and future projects.
Risk Assessment
Risk Level: low — The filing primarily details existing credit facilities and does not report significant new risks or negative financial developments.
Key Numbers
- 0.655% to 1.225% — Debt Spread (Varies with company's debt ratings)
Key Players & Entities
- Walt Disney Co (company) — Filer of the 10-Q
- Secured Overnight Financing Rate (SOFR) (financial_instrument) — Benchmark rate for borrowings
- Moody's Ratings (company) — Debt rating agency
- S&P Global Ratings (company) — Debt rating agency
- 0.655% (dollar_amount) — Minimum fixed spread on borrowings
- 1.225% (dollar_amount) — Maximum fixed spread on borrowings
- 20241228 (date) — End of reporting period
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is for the period ending December 28, 2024.
What are the primary interest rate benchmarks mentioned for Disney's credit facilities?
The primary interest rate benchmarks mentioned are the Secured Overnight Financing Rate (SOFR) and other variable rates for non-U.S. dollar denominated borrowings.
What is the range of the fixed spread on Disney's borrowings?
The fixed spread ranges from 0.655% to 1.225%, varying with the company's debt ratings.
Which agencies provide debt ratings that affect Disney's borrowing costs?
Moody's Ratings and S&P Global Ratings provide the debt ratings that affect Disney's borrowing costs.
When does The Walt Disney Co.'s fiscal year end?
The Walt Disney Co.'s fiscal year ends on September 27.
From the Filing
0001744489-25-000067.txt : 20250205 0001744489-25-000067.hdr.sgml : 20250205 20250205064316 ACCESSION NUMBER: 0001744489-25-000067 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 101 CONFORMED PERIOD OF REPORT: 20241228 FILED AS OF DATE: 20250205 DATE AS OF CHANGE: 20250205 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Walt Disney Co CENTRAL INDEX KEY: 0001744489 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 830940635 STATE OF INCORPORATION: DE FISCAL YEAR END: 0927 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-38842 FILM NUMBER: 25590804 BUSINESS ADDRESS: STREET 1: 500 SOUTH BUENA VISTA STREET CITY: BURBANK STATE: CA ZIP: 91521 BUSINESS PHONE: (818) 560-1000 MAIL ADDRESS: STREET 1: 500 SOUTH BUENA VISTA STREET CITY: BURBANK STATE: CA ZIP: 91521 FORMER COMPANY: FORMER CONFORMED NAME: TWDC Holdco 613 Corp. DATE OF NAME CHANGE: 20180702 FORMER COMPANY: FORMER CONFORMED NAME: TWDC Holdco 613 Corp DATE OF NAME CHANGE: 20180622 10-Q 1 dis-20241228.htm FORM 10-Q dis-20241228 FALSE 2025 Q1 WALT DISNEY CO/ 0001744489 --09-27 0.01 0.01 4.6 4.6 1.9 1.9 1.9 1.9 54 47 These facilities allow for borrowings at rates based on the Secured Overnight Financing Rate (SOFR) and at other variable rates for non-U.S. dollar denominated borrowings, plus a fixed spread that varies with the Company’s debt ratings assigned by Moody’s Ratings and S&P Global Ratings ranging from 0.655% to 1.225%. 0.655 1.225 2025-02-27 2027-03-31 2029-03-31 http://corporate.disney.go.com/20241228#HIBORMember http://corporate.disney.go.com/20241228#HIBORMember 2025-09-30 2028-12-31 2036-12-31 2033-12-31 2036-12-31 2033-12-31 2026-09-30 2035-09-30 4 xbrli:shares iso4217:USD iso4217:USD xbrli:shares xbrli:pure iso4217:HKD iso4217:CNY iso4217:CAD 0001744489 2024-09-29 2024-12-28 0001744489 2025-01-29 0001744489 us-gaap:ServiceMember 2024-09-29 2024-12-28 0001744489 us-gaap:ServiceMember 2023-10-01 2023-12-30 0001744489 us-gaap:ProductMember 2024-09-29 2024-12-28 0001744489 us-gaap:ProductMember 2023-10-01 2023-12-30 0001744489 2023-10-01 2023-12-30 0001744489 2024-12-28 0001744489 2024-09-28 0001744489 2023-09-30 0001744489 2023-12-30 0001744489 us-gaap:CommonStockMember 2024-09-28 0001744489 us-gaap:RetainedEarningsMember 2024-09-28 0001744489 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-09-28 0001744489 us-gaap:TreasuryStockCommonMember 2024-09-28 0001744489 us-gaap:ParentMember 2024-09-28 0001744489 us-gaap:NoncontrollingInterestMember 2024-09-28 0001744489 dis:TotalexcludingredeemablenoncontrollinginterestMember 2024-09-28 0001744489 us-gaap:RetainedEarningsMember 2024-09-29 2024-12-28 0001744489 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-09-29 2024-12-28 0001744489 us-gaap:ParentMember 2024-09-29 2024-12-28 0001744489 us-gaap:NoncontrollingInterestMember 2024-09-29 2024-12-28 0001744489 dis:TotalexcludingredeemablenoncontrollinginterestMember 2024-09-29 2024-12-28 0001744489 us-gaap:CommonStockMember 2024-09-29 2024-12-28 0001744489 us-gaap:TreasuryStockCommonMember 2024-09-29 2024-12-28 0001744489 us-gaap:CommonStockMember 2024-12-28 0001744489 us-gaap:RetainedEarningsMember 2024-12-28 0001744489 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2024-12-28 0001744489 us-gaap:TreasuryStockCommonMember 2024-12-28 0001744489 us-gaap:ParentMember 2024-12-28 0001744489 us-gaap:NoncontrollingInterestMember 2024-12-28 0001744489 dis:TotalexcludingredeemablenoncontrollinginterestMember 2024-12-28 0001744489 us-gaap:CommonStockMember 2023-09-30 0001744489 us-gaap:RetainedEarningsMember 2023-09-30 0001744489 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-09-30 0001744489 us-gaap:TreasuryStockCommonMember 2023-09-30 0001744489 us-gaap:ParentMember 2023-09-30 0001744489 us-gaap:NoncontrollingInterestMember 2023-09-30 0001744489 dis:TotalexcludingredeemablenoncontrollinginterestMember 2023-09-30 0001744489 us-gaap:Retai