Borrowings (Tables)

12 Months Ended

Oct. 01, 2011

Borrowings Iincluding the Impact of Interest Rate Swaps Designated as Hedges

The Company’s borrowings at October 1, 2011 and October 2, 2010, including the impact of interest rate swaps designated as hedges, are summarized below:


					2011
							Interest rate and Cross-Currency Swaps ⁽²⁾
	2011		2010		Stated Interest Rate ⁽¹⁾		Pay Floating		Pay Fixed		Effective Interest Rate ⁽³⁾		Swap Maturities
Commercial paper borrowings	$	1,583	$	1,190		0.15%	$	—	$	—		0.15%
U.S. medium-term notes		8,400		6,815		4.84%		1,050		—		3.87%		2012-2018
European medium-term notes		91		273		1.65%		91		—		0.87%		2013
Other foreign currency denominated debt		1,020		965		0.86%		1,020		—		0.79%		2013
Capital Cities/ABC debt		114		115		8.75%		—		—		6.09%
Other⁽⁴⁾		458		536		—		—		—		—

		11,666		9,894		3.68%		2,161		—		2.94%
Disneyland Paris (DLP) and Hong Kong Disneyland Resort (HKDL):
DLP – CDC loans		1,440		1,417		5.04%		—		—		5.11%
DLP – Credit facilities & other		116		228		4.55%		—		—		5.83%
DLP – Other advances		425		468		3.04%		—		—		3.10%
HKDL – Borrowings		330		473		3.25%		—		—		2.81%

		2,311		2,586		4.39%		—		—		4.45%

Total borrowings		13,977		12,480		3.80%		2,161		—		3.21%

Less current portion		3,055		2,350		2.69%		50		—		2.17%

Total long-term borrowings	$	10,922	$	10,130			$	2,111	$	—

⁽¹⁾	The stated interest rate represents the weighted-average coupon rate for each category of borrowings. For floating rate borrowings, interest rates are based upon the rates at October 1, 2011; these rates are not necessarily an indication of future interest rates.

⁽²⁾	Amounts represent notional values of interest rate and cross-currency swaps as of October 1, 2011.

⁽³⁾

The effective interest rate includes the impact of existing and terminated interest rate and cross-currency swaps on the stated rate of interest and reflects the estimated market interest rate for certain Disneyland Paris borrowings as of the time that they were modified during the 2005 Financial Restructuring. Other adjustments to the stated interest rate such as purchase accounting adjustments and debt issuance costs did not have a material impact on the overall effective interest rate.

⁽⁴⁾	Includes market value adjustments for debt with qualifying hedges totaling $284 million and $315 million at October 1, 2011 and October 2, 2010, respectively.

Disneyland Paris Borrowings

Disneyland Paris Borrowings


	October 1, 2011		October 2, 2010
CDC senior debt	$	322	$	326
CDC subordinated debt – original and 1994 financing		369		373
CDC subordinated debt – Walt Disney Studios Park financing		749		718

CDC loans		1,440		1,417

Credit facilities and other		116		228
Other advances		425		468

	$	1,981	$	2,113

Total Borrowings Excluding Market Value Adjustments, Scheduled Maturities

Total borrowings excluding market value adjustments, have the following scheduled maturities:


	Before International Theme Parks Consolidation		International Theme Parks		Total
2012	$	2,857	$	188	$	3,045
2013		1,871		166		2,037
2014		1,466		47		1,513
2015		67		132		199
2016		1,504		45		1,549
Thereafter		3,617		1,733		5,350

	$	11,382	$	2,311	$	13,693