Disney Results Presentation Deck
Reconciliation of Diluted EPS Excluding Certain Items for FY23
(In Millions except EPS)
The following table reconciles reported diluted EPS from continuing operations to diluted EPS excluding certain items for the year:
Pre-Tax
Income/ Loss
Tax Benefit/
(1)
Expense
After-Tax
Income/Loss"
(in millions except EPS)
Year Ended September 30, 2023
As reported
Exclude:
Restructuring and impairment charges
Amortization of TFCF and Hulu intangible assets and fair
value step-up on film and television costs
(5)
(6)
Other income, net
Excluding certain items
Year Ended October 1, 2022
As reported
Exclude:
Amortization of TFCF and Hulu intangible assets and fair
value step-up on film and television costs
(5)
Contract license early termination
(6)
Other income, net
Restructuring and impairment charges
Excluding certain items
(4)
$4,769
3,836
1,998
(96)
$10,507
$5,285
2,353
1,023
667
237
$9,565
($1,379)
(717)
(465)
13
($2,548)
($1,732)
(549)
(238)
(156)
(55)
($2,730)
(2)
$3,390
3,119
1,533
(83)
$7,959
$3,553
1,804
785
511
182
$6,835
Diluted EPS (3)
$1.29
1.69
0.82
(0.05)
$3.76
$1.75
0.97
0.43
0.28
0.10
$3.53
Change vs. prior
year
(26%)
7%
(1) Tax benefit/expense is determined using the tax rate applicable to the individual item.
(2)
Before noncontrolling interest share.
(3) Net of noncontrolling interest share, where applicable. Total may not equal the sum of the column due to rounding.
(4) Charges for the current year included content impairments ($2,577 million), severance ($357 million), impairments of goodwill ($721 million) and an investment ($141 million), and costs related to exiting our businesses in Russia ($69 million), net of the A+E
gain ($56 million). Charges for the prior year were due to impairments of an intangible and other assets related to exiting our businesses in Russia.
(5) For the current year, intangible asset amortization was $1,547 million, step-up amortization was $439 million and amortization of intangible assets related to TFCF equity investees was $12 million. For the prior year, intangible asset amortization was $1,707
million, step-up amortization was $634 million and amortization of intangible assets related to TFCF equity investees was $12 million.
(6) For the current year, other income, net was due to a DraftKings loss ($169 million) and a gain on the sale of a business ($28 million), partially offset by a charge related to a legal ruling ($101 million). For the prior year, other expense, net was due to a
DraftKings loss ($663 million).
ⒸDisney
Fourth Fiscal Quarter Ended September 30, 2023
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