Disney Results Presentation Deck
Diluted EPS Excluding Certain Items
(In millions except EPS)
The following table reconciles reported diluted EPS from continuing operations to diluted EPS excluding certain items:
Tax Benefit/
(1)
Expense
Diluted EPS (3)
(in millions except EPS)
Quarter Ended April 1, 2023
As reported
Exclude:
(4)
Amortization of TFCF and Hulu intangible assets
and fair value step-up on film and television costs
(5)
Restructuring and impairment charges
Other Income, net
(6)
Excluding certain items
Quarter Ended April 2, 2022
As reported
Exclude:
Content license early termination
(4)
Amortization of TFCF and Hulu intangible assets
and fair value step-up on film and television costs
Restructuring and impairment charges
Other expense, net
Excluding certain items
Pre-Tax
Income/ Loss
$2,123
558
152
(149)
$2,684
$1,102
1,023
594
195
158
$3,072
($635)
(130)
(35)
35
($765)
($505)
(238)
(138)
(45)
(37)
($963)
After-Tax
Income/Loss
(2)
$1,488
428
117
(114)
$1,919
$597
785
456
150
121
$2,109
$0.69
(5) Charges for the current quarter were primarily for severance. Charges for the prior-year quarter were due to the impairment of an intangible asset related to the Disney Channel in Russia.
(6) In the current quarter, other income, net was due to the DraftKings gain ($149 million). For the prior-year quarter, other expense, net was due to the DraftKings loss ($158 million).
ⒸDisney
0.23
0.06
(0.06)
$0.93
$0.26
0.43
0.24
0.08
0.07
$1.08
Change vs. prior
year period
>100 %
(14%)
(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) For the current quarter, intangible asset amortization was $408 million, step-up amortization was $147 million and amortization of intangible assets related to TFCF equity investees was $3 million. For the prior-year quarter, intangible asset amortization
was $435 million, step-up amortization was $156 million and amortization of intangible assets related to TFCF equity investees was $3 million
Second Fiscal Quarter Ended April 1, 2023 16View entire presentation