Disney dramatic changes with the most recent annual financials being the comparison point

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DisneyBalancesheet.xlsx

Balance Sheet

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Disney (Walt) Co. (The) (NYS: DIS)
Exchange rate used is that of the Year End reported date
As Reported Annual Balance Sheet Cash Difference between 2020-2021 Cash difference between 2019-2020 Percentage difference in 2020-2021 Percentage difference in 2019-2020
Report Date 10/02/2021 10/03/2020 09/28/2019 2021 2020 2021 2020
Cash & cash equivalents $ 15,959,000,000.00 $ 17,914,000,000.00 $ 5,418,000,000.00 $ (1,955,000,000.00) $ (12,496,000,000.00) -10.91% 230.64%
Receivables, net $ 13,367,000,000.00 $ 12,708,000,000.00 $ 15,481,000,000.00 $ 659,000,000.00 $ 2,773,000,000.00 5.19% -17.91%
Inventories $ 1,331,000,000.00 $ 1,583,000,000.00 $ 1,649,000,000.00 $ (252,000,000.00) $ 66,000,000.00 -15.92% -4.00%
Other current assets $ 817,000,000.00 $ 875,000,000.00 $ 979,000,000.00 $ (58,000,000.00) $ 104,000,000.00 -6.63% -10.62%
Total current assets $ 33,657,000,000.00 $ 35,251,000,000.00 $ 28,124,000,000.00 $ (1,594,000,000.00) $ (7,127,000,000.00) -4.52% 25.34%
Produced & licensed content costs $ 29,549,000,000.00 $ 25,022,000,000.00 $ 22,810,000,000.00 $ 4,527,000,000.00 $ (2,212,000,000.00) 18.09% 9.70%
Investments $ 3,935,000,000.00 $ 3,903,000,000.00 $ 3,224,000,000.00 $ 32,000,000.00 $ (679,000,000.00) 0.82% 21.06%
Attractions, buildings & improvements $ 32,765,000,000.00 $ 31,279,000,000.00 $ 29,509,000,000.00 $ 1,486,000,000.00 $ (1,770,000,000.00) 4.75% 6.00%
Furniture, fixtures & equipment $ 24,008,000,000.00 $ 22,976,000,000.00 $ 21,265,000,000.00 $ 1,032,000,000.00 $ (1,711,000,000.00) 4.49% 8.05%
Land improvements $ 7,061,000,000.00 $ 6,828,000,000.00 $ 6,649,000,000.00 $ 233,000,000.00 $ (179,000,000.00) 3.41% 2.69%
Leasehold improvements $ 1,058,000,000.00 $ 1,028,000,000.00 $ 1,166,000,000.00 $ 30,000,000.00 $ 138,000,000.00 2.92% -11.84%
Attractions, buildings & equipment, at cost $ 64,892,000,000.00 $ 62,111,000,000.00 $ 58,589,000,000.00 $ 2,781,000,000.00 $ (3,522,000,000.00) 4.48% 6.01%
Accumulated depreciation $ 37,920,000,000.00 $ 35,517,000,000.00 $ 32,415,000,000.00 $ 2,403,000,000.00 $ (3,102,000,000.00) 6.77% 9.57%
Parks, resorts & other property, before projects in progress & land $ 26,972,000,000.00 $ 26,594,000,000.00 $ 26,174,000,000.00 $ 378,000,000.00 $ (420,000,000.00) 1.42% 1.60%
Projects in progress $ 4,521,000,000.00 $ 4,449,000,000.00 $ 4,264,000,000.00 $ 72,000,000.00 $ (185,000,000.00) 1.62% 4.34%
Land $ 1,131,000,000.00 $ 1,035,000,000.00 $ 1,165,000,000.00 $ 96,000,000.00 $ 130,000,000.00 9.28% -11.16%
Parks, resorts & other property, net $ 32,624,000,000.00 $ 32,078,000,000.00 $ 31,603,000,000.00 $ 546,000,000.00 $ (475,000,000.00) 1.70% 1.50%
Intangible assets, net $ 17,115,000,000.00 $ 19,173,000,000.00 $ 23,215,000,000.00 $ (2,058,000,000.00) $ 4,042,000,000.00 -10.73% -17.41%
Goodwill $ 78,071,000,000.00 $ 77,689,000,000.00 $ 80,293,000,000.00 $ 382,000,000.00 $ 2,604,000,000.00 0.49% -3.24%
Other assets $ 8,658,000,000.00 $ 8,433,000,000.00 $ 4,715,000,000.00 $ 225,000,000.00 $ (3,718,000,000.00) 2.67% 78.85%
Total assets $ 203,609,000,000.00 $ 201,549,000,000.00 $ 193,984,000,000.00 $ 2,060,000,000.00 $ (7,565,000,000.00) 1.02% 3.90%
Cash and Cash equivalent: Cash equivalents are assets that are readily convertible into cash, such as money market holdings, short-term government bonds or Treasury bills, marketable securities, and commercial paper. From the table above we can clearly see that the cash and cash equivalent rose significantly from 5.4 billion to 17.9 billion. This fluctuation is due to acquiring Hulu subscription streaming service for 10.5 billion in 2019. Other assets: The main reason for the significant change in other total assets is Disney's acquisition of Hulu in 2019. Hulu is one of the top streaming services in the world and the pandemic brought a significant rise in business for subscription-based streaming services like Hulu.

-0.10913252204979346 5.1857097891092226E-2 -0.15919140871762477 -6.6285714285714281E-2 -4.5218575359564264E-2 0.18092078970505954 8.1988214194209583E-3 4.7507912657054251E-2 4.4916434540389974E-2 3.4124194493263031E-2 2.9182879377431907E-2 4.4774677593340952E-2 6.7657741363290821E-2 1.4213732420846807E-2 1.6183412002697236E-2 9.2753623188405798E-2 1.7021011284992831E-2 -0.10733844468784227 4.9170410225385834E-3 2.6680896478121666E-2 1.0220839597318766E-2 2.3063861203396088 -0.17912279568503325 -4.0024257125530621E-2 -0.10623084780388151 0.25341345470061155 9.6975010960105218E-2 0.21060794044665013 5.9981700498153108E-2 8.0460851163884323E-2 2.6921341555121072E-2 -0.1183533447684391 6.0113673215108639E-2 9.5696436834798698E-2 1.6046458317414226E-2 4.3386491557223267E-2 -0.11158798283261803 1.5030218650128152E-2 -0.17411156579797546 -3.2431220654353429E-2 0.78854718981972427 3.8998061695809966E-2

Cash Flow

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Disney (Walt) Co. (The) (NYS: DIS)
Exchange rate used is that of the Year End reported date
As Reported Annual Cash Flow
Report Date 10/02/2021 10/03/2020 09/28/2019 Cash Difference between 2020-2021 Cash difference between 2019-2020 Percentage difference in 2020-2021 Percentage difference in 2019-2020
Net income (loss) from continuing operations $ 2,536,000,000.00 $ (2,442,000,000.00) $ 10,913,000,000.00 $ 4,978,000,000.00 $ (13,355,000,000.00) 203.85% -122.38%
Depreciation & amortization $ 5,111,000,000.00 $ 5,345,000,000.00 $ 4,160,000,000.00 $ (234,000,000.00) $ 1,185,000,000.00 -4.38% 28.49%
Deferred income taxes $ (1,241,000,000.00) $ (392,000,000.00) $ 117,000,000.00 $ (849,000,000.00) $ (509,000,000.00) -216.58% -435.04%
Equity in the loss (income) of investees $ (761,000,000.00) $ (651,000,000.00) $ 103,000,000.00 $ (110,000,000.00) $ (754,000,000.00) -16.90% -732.04%
Cash distributions received from equity investees $ 754,000,000.00 $ 774,000,000.00 $ 754,000,000.00 $ (20,000,000.00) $ 20,000,000.00 -2.58% 2.65%
Net change in produced & licensed content costs & advances $ (4,301,000,000.00) $ 397,000,000.00 $ (542,000,000.00) $ (4,698,000,000.00) $ 939,000,000.00 -1183.38% 173.25%
Equity-based compensation $ 600,000,000.00 $ 525,000,000.00 $ 711,000,000.00 $ 75,000,000.00 $ (186,000,000.00) 14.29% -26.16%
Other adjustments $ 144,000,000.00 $ 641,000,000.00 $ 206,000,000.00 $ (497,000,000.00) $ 435,000,000.00 -77.54% 211.17%
Receivables $ (357,000,000.00) $ 1,943,000,000.00 $ 55,000,000.00 $ (2,300,000,000.00) $ 1,888,000,000.00 -118.37% 3432.73%
Inventories $ 252,000,000.00 $ 14,000,000.00 $ (223,000,000.00) $ 238,000,000.00 $ 237,000,000.00 1700.00% 106.28%
Other assets $ 171,000,000.00 $ (157,000,000.00) $ 932,000,000.00 $ 328,000,000.00 $ (1,089,000,000.00) 208.92% -116.85%
Income taxes $ (282,000,000.00) $ (152,000,000.00) $ (6,599,000,000.00) $ (130,000,000.00) $ 6,447,000,000.00 -85.53% 97.70%
Net cash flows from operating activities $ 5,566,000,000.00 $ 7,616,000,000.00 $ 5,984,000,000.00 $ (2,050,000,000.00) $ 1,632,000,000.00 -26.92% 27.27%
Investments in parks, resorts & other property $ (3,578,000,000.00) $ (4,022,000,000.00) $ (4,876,000,000.00) $ 444,000,000.00 $ 854,000,000.00 11.04% 17.51%
Other investing activities $ 407,000,000.00 $ 172,000,000.00 $ (319,000,000.00) $ 235,000,000.00 $ 491,000,000.00 136.63% 153.92%
Net cash flows from investing activities $ (3,171,000,000.00) $ (3,850,000,000.00) $ (15,096,000,000.00) $ 679,000,000.00 $ 11,246,000,000.00 17.64% 74.50%
Commercial paper borrowings (payments), net $ (26,000,000.00) $ (3,354,000,000.00) $ 4,318,000,000.00 $ 3,328,000,000.00 $ (7,672,000,000.00) 99.22% -177.67%
Borrowings $ 64,000,000.00 $ 18,120,000,000.00 $ 38,240,000,000.00 $ (18,056,000,000.00) $ (20,120,000,000.00) -99.65% -52.62%
Reduction of borrowings $ (3,737,000,000.00) $ (3,533,000,000.00) $ (38,881,000,000.00) $ (204,000,000.00) $ 35,348,000,000.00 -5.77% 90.91%
Proceeds from exercise of stock options $ 435,000,000.00 $ 305,000,000.00 $ 318,000,000.00 $ 130,000,000.00 $ (13,000,000.00) 42.62% -4.09%
Contributions from or sales of noncontrolling interests $ 91,000,000.00 $ 94,000,000.00 $ 737,000,000.00 $ (3,000,000.00) $ (643,000,000.00) -3.19% -87.25%
Other financing activities $ (862,000,000.00) $ (1,565,000,000.00) $ (871,000,000.00) $ 703,000,000.00 $ (694,000,000.00) 44.92% -79.68%
Net cash flows from financing actvities $ (4,385,000,000.00) $ 8,480,000,000.00 $ (464,000,000.00) $ (12,865,000,000.00) $ 8,944,000,000.00 -151.71% 1927.59%
Cash flows from operating activities of discontinued operations $ 1,000,000.00 $ 2,000,000.00 $ 622,000,000.00 $ (1,000,000.00) $ (620,000,000.00) -50.00% -99.68%
Cash flows from investing activities of discontinued operations $ 8,000,000.00 $ 213,000,000.00 $ 10,978,000,000.00 $ (205,000,000.00) $ (10,765,000,000.00) -96.24% -98.06%
Cash from (used in) discontinued operations $ 9,000,000.00 $ 215,000,000.00 $ 10,974,000,000.00 $ (206,000,000.00) $ (10,759,000,000.00) -95.81% -98.04%
Impact of exchange rates on cash, cash equivalents & restricted cash $ 30,000,000.00 $ 38,000,000.00 $ (98,000,000.00) $ (8,000,000.00) $ 136,000,000.00 -21.05% 138.78%
Change in cash, cash equivalents & restricted cash $ (1,951,000,000.00) $ 12,499,000,000.00 $ 1,300,000,000.00 $ (14,450,000,000.00) $ 11,199,000,000.00 -115.61% 861.46%
Cash, cash equivalents & restricted cash, beginning of year $ 17,954,000,000.00 $ 5,455,000,000.00 $ 4,155,000,000.00 $ 12,499,000,000.00 $ 1,300,000,000.00 229.13% 31.29%
Cash, cash equivalents & restricted cash, end of year $ 16,003,000,000.00 $ 17,954,000,000.00 $ 5,455,000,000.00 $ (1,951,000,000.00) $ 12,499,000,000.00 -10.87% 229.13%
Interest paid $ 1,892,000,000.00 $ 1,559,000,000.00 $ 1,142,000,000.00 $ 333,000,000.00 $ 417,000,000.00 21.36% 36.51%
Income taxes paid $ 1,638,000,000.00 $ 738,000,000.00 $ 9,259,000,000.00 $ 900,000,000.00 $ (8,521,000,000.00) 121.95% -92.03%

Percentage change

2.0384930384930384 -4.3779232927970063E-2 -2.1658163265306123 -0.16897081413210446 -2.5839793281653745E-2 -11.83375314861461 0.14285714285714285 -0.77535101404056161 -1.1837364899639733 17 2.089171974522293 -0.85526315789473684 -0.26917016806722688 0.11039283938339135 1.3662790697674418 0.17636363636363636 0.99224806201550386 -0.99646799116997797 -5.774129634871214E-2 0.42622950819672129 -3.1914893617021274E-2 0.44920127795527154 -1.5170990566037736 -0.5 -0.96244131455399062 -0.95813953488372094 -0.21052631578947367 -1.156092487398992 2.2912923923006416 -0.10866659240280717 0.21359846055163567 1.2195121951219512 -1.2237698158159993 0.28485576923076922 -4.3504273504273501 -7.3203883495145634 2.6525198938992044E-2 1.7324723247232472 -0.26160337552742619 2.1116504854368934 34.327272727272728 1.0627802690582959 -1.1684549356223175 0.97696620700106074 0.27272727272727271 0.17514356029532405 1.5391849529780564 0.74496555378908325 -1.77674849467346 -0.52615062761506282 0.90913299555052596 -4.0880503144654086E-2 -0.8724559023066486 -0.79678530424799077 19.275862068965516 -0.99678456591639875 -0.98059755875387133 -0.98040823765263352 1.3877551020408163 8.6146153846153855 0.3128760529482551 2.2912923923006416 0.36514886164623467 -0.92029376822551034

Income Statement

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Disney (Walt) Co. (The) (NYS: DIS)
Exchange rate used is that of the Year End reported date
As Reported Annual Income Statement Cash Difference between 2020-2021 Cash difference between 2019-2020 Percentage difference in 2020-2021 Percentage difference in 2019-2020
Report Date 10/02/2021 10/03/2020 09/28/2019 2021 2020 2021 2020
Revenues - services $ 61,768,000,000.00 $ 59,265,000,000.00 $ 60,542,000,000.00 $ 2,503,000,000.00 $ (1,277,000,000.00) 4.22% -2.11%
Revenues - products $ 5,650,000,000.00 $ 6,123,000,000.00 $ 9,028,000,000.00 $ (473,000,000.00) $ (2,905,000,000.00) -7.72% -32.18%
Total revenues $ 67,418,000,000.00 $ 65,388,000,000.00 $ 69,570,000,000.00 $ 2,030,000,000.00 $ (4,182,000,000.00) 3.10% -6.01%
Cost of services (exclusive of depreciation & amortization) $ 41,129,000,000.00 $ 39,406,000,000.00 $ 36,450,000,000.00 $ 1,723,000,000.00 $ 2,956,000,000.00 4.37% 8.11%
Cost of products (exclusive of depreciation & amortization) $ 4,002,000,000.00 $ 4,474,000,000.00 $ 5,568,000,000.00 $ (472,000,000.00) $ (1,094,000,000.00) -10.55% -19.65%
Selling, general, administrative & other expenses $ 13,517,000,000.00 $ 12,369,000,000.00 $ 11,541,000,000.00 $ 1,148,000,000.00 $ 828,000,000.00 9.28% 7.17%
Depreciation & amortization $ 5,111,000,000.00 $ 5,345,000,000.00 $ 4,160,000,000.00 $ (234,000,000.00) $ 1,185,000,000.00 -4.38% 28.49%
Total costs & expenses $ (63,759,000.00) $ (61,594,000,000.00) $ (57,719,000,000.00) $ 61,530,241,000.00 $ (3,875,000,000.00) -99.90% -6.71%
Restructuring & impairment charges $ 654,000,000.00 $ 5,735,000,000.00 $ 1,183,000,000.00 $ (5,081,000,000.00) $ 4,552,000,000.00 -88.60% 384.78%
Other income (expense), net $ 201,000,000.00 $ 1,038,000,000.00 $ 4,357,000,000.00 $ (837,000,000.00) $ (3,319,000,000.00) -80.64% -76.18%
Interest expense $ 1,546,000,000.00 $ 1,647,000,000.00 $ 1,246,000,000.00 $ (101,000,000.00) $ 401,000,000.00 -6.13% 32.18%
Interest & investment income $ 140,000,000.00 $ 156,000,000.00 $ 268,000,000.00 $ (16,000,000.00) $ (112,000,000.00) -10.26% -41.79%
Interest income (expense), net $ (1,406,000,000.00) $ (1,491,000,000.00) $ (978,000,000.00) $ 85,000,000.00 $ (513,000,000.00) -5.70% -52.45%
Equity in the income (loss) of investees $ 761,000,000.00 $ 651,000,000.00 $ (103,000,000.00) $ 110,000,000.00 $ 754,000,000.00 16.90% 732.04%
Income (loss) before income taxes - domestic (including U.S. exports) $ 5,241,000,000.00 $ 4,706,000,000.00 $ 12,389,000,000.00 $ 535,000,000.00 $ (7,683,000,000.00) 11.37% -62.01%
Income (loss) before income taxes - foreign subsidiaries $ (2,680,000,000.00) $ (6,449,000,000.00) $ 1,555,000,000.00 $ 3,769,000,000.00 $ (8,004,000,000.00) -58.44% -514.73%
Income (loss) from continuing operations before income taxes $ 2,561,000,000.00 $ (1,743,000,000.00) $ 13,944,000,000.00 $ 4,304,000,000.00 $ (15,687,000,000.00) -246.93% -112.50%
Current income tax expense (benefit) - federal $ 594,000,000.00 $ 95,000,000.00 $ 14,000,000.00 $ 499,000,000.00 $ 81,000,000.00 525.26% 578.57%
Current income tax expense (benefit) - state $ 129,000,000.00 $ 148,000,000.00 $ 112,000,000.00 $ (19,000,000.00) $ 36,000,000.00 -12.84% 32.14%
Current income tax expense (benefit) - foreign $ 554,000,000.00 $ 731,000,000.00 $ 824,000,000.00 $ (177,000,000.00) $ (93,000,000.00) -24.21% -11.29%
Total current income tax expense (benefit) $ 1,277,000,000.00 $ 974,000,000.00 $ 950,000,000.00 $ 303,000,000.00 $ 24,000,000.00 31.11% 2.53%
Deferred income tax expense (benefit) - federal $ (526,000,000.00) $ 279,000,000.00 $ 1,829,000,000.00 $ (805,000,000.00) $ (1,550,000,000.00) -288.53% -84.75%
Deferred income tax expense (benefit) - state $ (220,000,000.00) $ (29,000,000.00) $ 259,000,000.00 $ (191,000,000.00) $ (288,000,000.00) 658.62% -111.20%
Deferred income tax expense (benefit) - foreign $ (506,000,000.00) $ (525,000,000.00) $ (7,000,000.00) $ 19,000,000.00 $ (518,000,000.00) -3.62% -7400.00%
Total deferred income tax expense (benefit) $ (1,252,000,000.00) $ (275,000,000.00) $ 2,081,000,000.00 $ (977,000,000.00) $ (2,356,000,000.00) 355.27% -113.21%
Income taxes on continuing operations $ 25,000,000.00 $ 699,000,000.00 $ 3,031,000,000.00 $ (674,000,000.00) $ (2,332,000,000.00) -96.42% -76.94%
Net income (loss) from continuing operations $ 2,536,000,000.00 $ (2,442,000,000.00) $ 10,913,000,000.00 $ 4,978,000,000.00 $ (13,355,000,000.00) -203.85% -122.38%
Income (loss) from discontinued operations $ (29,000,000.00) $ (32,000,000.00) $ 671,000,000.00 $ 3,000,000.00 $ (703,000,000.00) -9.38% -104.77%
Net income (loss) $ 2,507,000,000.00 $ (2,474,000,000.00) $ 11,584,000,000.00 $ 4,981,000,000.00 $ (14,058,000,000.00) -201.33% -121.36%
Deferred income tax expense (benefit) - state: This is caused by the change in tax law (covid tax break) during the pandemic. Either the tax was reduced or forgiven Deferred income tax expenses (benefit) foreign:

4.2234033577997133E-2 -7.7249714192389352E-2 3.1045451764849821E-2 4.3724305943257373E-2 -0.10549843540455968 9.2812676853423884E-2 -4.377923 2927970063E-2 -0.99896485047244865 -0.88596338273757624 -0.80635838150289019 -6.1323618700667881E-2 -0.10256410256410256 -5.7008718980549968E-2 0.16897081413210446 0.11368465788355291 -0.58443169483640878 -2.4693057946069996 5.2526315789473683 -0.12837837837837837 -0.24213406292749659 0.31108829568788499 -2.8853046594982077 6.5862068965517242 -3.619047619047619E-2 3.5527272727272727 -0.96423462088698142 -2.0384930384930384 -9.375E-2 -2.0133387227162491 -2.1092795084404214E-2 -0.32177669472751441 -6.0112117291936176E-2 8.109739368998628E-2 -0.19647988505747127 7.1744216272420072E-2 0.28485576923076922 -6.7135605259966383E-2 3.8478444632290785 -0.76176268074363096 0.3218298555377207 -0.41791044776119401 -0.52453987730061347 7.3203883495145634 -0.62014690451206711 -5.1472668810289388 -1.125 5.7857142857142856 0.32142857142857145 -0.11286407766990292 2.5263157894736842E-2 -0.84745762711864403 -1.111969111969112 -74 -1.1321480057664584 -0.76938304190036289 -1.2237698158159993 -1.0476900149031296 -1.2135704419889504