QUARTERLY FINANCIAL SUMMARY

12 Months Ended

Sep. 27, 2014

Quarterly Financial Information Disclosure [Abstract]

(in millions, except per share data)



(unaudited)	Q1⁽¹⁾		Q2 ⁽²⁾		Q3 ⁽³⁾		Q4 ⁽⁴⁾
2014
Revenues	$	12,309	$	11,649	$	12,466	$	12,389
Segment operating income ⁽⁵⁾	3,020		3,353		3,857		2,775
Net income	1,904		2,056		2,419		1,625
Net income attributable to Disney	1,840		1,917		2,245		1,499
Earnings per share:
Diluted	$	1.03	$	1.08	$	1.28	$	0.86
Basic	1.04		1.10		1.30		0.87
2013
Revenues	$	11,341	$	10,554	$	11,578	$	11,568
Segment operating income ⁽⁵⁾	2,380		2,509		3,351		2,484
Net income	1,438		1,621		2,034		1,543
Net income attributable to Disney	1,382		1,513		1,847		1,394
Earnings per share:
Diluted	$	0.77	$	0.83	$	1.01	$	0.77
Basic	0.78		0.84		1.02		0.78

⁽¹⁾

Results for the first quarter of fiscal 2014 include restructuring and impairment charges, which had an adverse impact of $0.01 on diluted earnings per share. The first quarter of fiscal 2013 includes charges related to the Celador litigation ($0.11 per diluted share) and our share of expense associated with the Hulu Equity Redemption ($0.02 per diluted share), partially offset by a gain on the sale of our 50% interest in ESS ($0.07 per diluted share) and a tax benefit related to an increase in the amount of prior-year foreign earnings considered to be indefinitely reinvested outside of the United States ($0.04 per diluted share). These items had a net adverse impact of $0.02 on diluted earnings per share.

⁽²⁾

Results for the second quarter of fiscal 2014 include a loss from Venezuelan foreign currency translation ($0.05 per diluted share) and restructuring and impairment charges ($0.02 per diluted share), partially offset by a gain on the sale of property ($0.03 per diluted share) and income related to a portion of a settlement of an affiliate contract dispute ($0.01 per diluted share). These items had a net adverse impact of $0.03 on diluted earnings per share. The second quarter of fiscal 2013 includes favorable tax adjustments related to pre-tax earnings in prior years ($0.06 per diluted share), partially offset by restructuring and impairment charges ($0.02 per diluted share). These items had a net positive impact of $0.04 on diluted earnings per share.


⁽³⁾	The third quarter of fiscal 2013 includes restructuring and impairment charges, which had an adverse impact of $0.02 on diluted earnings per share.

⁽⁴⁾

Results for the fourth quarter of fiscal 2014 include restructuring and impairment charges, which had an adverse impact of $0.03 on diluted earnings per share. The fourth quarter of fiscal 2013 includes restructuring and impairment charges ($0.03 per diluted share), offset by a tax benefit related to an increase in the amount of prior-year foreign earnings considered to be indefinitely reinvested outside of the United States ($0.02 per diluted share) and gains on the sale of various businesses ($0.01 per diluted share), which collectively had no net impact on earnings per share.


⁽⁵⁾	Segment operating results reflect earnings before corporate and unallocated shared expenses, restructuring and impairment charges, other income/(expense), interest income/(expense), income taxes and noncontrolling interests. Segment operating income includes equity in the income of investees.

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

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