Q2 Media & Entertainment Distribution Results
Total Segment Operating Income
(In millions)
The following are reconciliations of income from continuing operations before income taxes to total segment operating income (in millions):
Quarter Ended
April 1, 2023
April 2, 2023
Change
$2,123
$1,102
Income from continuing operations before income taxes
93 %
Add (subtract):
Content license early termination (1)
1,023
100%
Corporate and unallocated shared expenses
279
272
(3%)
Restructuring and impairment charges
152
195
(22%)
Other (income) expense, net
(149)
158
nm
Interest expense, net
322
355
9%
Amortization of TFCF and Hulu intangible assets and fair value
step-up on film and television costs
558
594
6%
Total segment operating income
$3,285
$3,699
(11%)
(1) In February 2022, the Company terminated certain license agreements with a customer for film and television content, which was delivered in previous years, in order for the Company to use the content primarily on our direct-toconsumer services
(Content License Early Termination).
©Disney
Second Fiscal Quarter Ended April 1, 2023
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