6.	*International Theme Park Investments*

The Company has a 51% effective ownership interest in the operations of Disneyland Paris, a 47% ownership interest in the operations of Hong Kong Disneyland Resort and a 43% ownership interest in the operations of Shanghai Disney Resort (collectively the “International Theme Parks”), all of which are consolidated in the Company’s financial statements.

The following tables present summarized balance sheet information for the Company as of December 31, 2011 and October 1, 2011, reflecting the impact of consolidating the balance sheets of the International Theme Parks.


	As of December 31, 2011
	Before International Theme Parks Consolidation		International Theme Parks and Adjustments		Total
Cash and cash equivalents	$	3,141	$	625	$	3,766
Other current assets		11,072		222		11,294

Total current assets		14,213		847		15,060
Investments		4,046		(1,361)		2,685
Fixed assets		15,520		4,240		19,760
Other assets		36,287		85		36,372

Total assets	$	70,066	$	3,811	$	73,877


Current portion of borrowings	$	2,943	$	217	$	3,160
Other current liabilities		9,920		444		10,364

Total current liabilities		12,863		661		13,524
Borrowings		9,298		1,928		11,226
Deferred income taxes and other long-term liabilities		9,564		140		9,704
Equity		38,341		1,082		39,423

Total liabilities and equity	$	70,066	$	3,811	$	73,877


	As of October 1, 2011
	Before International Theme Parks Consolidation		International Theme Parks and Adjustments		Total
Cash and cash equivalents	$	2,407	$	778	$	3,185
Other current assets		10,323		249		10,572

Total current assets		12,730		1,027		13,757
Investments		3,791		(1,356)		2,435
Fixed assets		15,386		4,309		19,695
Other assets		36,137		100		36,237

Total assets	$	68,044	$	4,080	$	72,124


Current portion of borrowings	$	2,866	$	189	$	3,055
Other current liabilities		8,459		574		9,033

Total current liabilities		11,325		763		12,088
Borrowings		8,800		2,122		10,922
Deferred income taxes and other long-term liabilities		9,507		154		9,661
Equity		38,412		1,041		39,453

Total liabilities and equity	$	68,044	$	4,080	$	72,124

The following table presents summarized income statement information of the Company for the quarter ended December 31, 2011, reflecting the impact of consolidating the income statements of the International Theme Parks.


	Before International Theme Parks Consolidation ⁽¹⁾		International Theme Parks and Adjustments		Total
Revenues	$	10,218	$	561	$	10,779
Cost and expenses		(8,053)		(534)		(8,587)
Restructuring and impairment charges		(6)		–		(6)
Other income		–		–		–
Net interest expense		(71)		(19)		(90)
Equity in the income of investees		151		(6)		145

Income before income taxes		2,239		2		2,241
Income taxes		(720)		–		(720)

Net income	$	1,519	$	2	$	1,521

⁽¹⁾

These amounts include the International Theme Parks under the equity method of accounting. As such, royalty and management fee income from these operations is included in Revenues and our share of their net income/(loss) is included in Equity in the income of investees. There were no royalties and management fees recognized for the quarter ended December 31, 2011.

The following table presents summarized cash flow statement information of the Company for the quarter ended December 31, 2011, reflecting the impact of consolidating the cash flow statements of the International Theme Parks.


	Before International Theme Parks Consolidation		International Theme Parks and Adjustments		Total
Cash provided by operations	$	1,725	$	9	$	1,734
Investments in parks, resorts and other property		(511)		(123 )		(634)
Other investing activities		(392)		48		(344)
Cash used by financing activities		(66)		(64 )		(130)
Impact of exchange rates on cash and cash equivalents		(22)		(23 )		(45)

Increase/(decrease) in cash and cash equivalents		734		(153 )		581
Cash and cash equivalents, beginning of period		2,407		778		3,185


Cash and cash equivalents, end of period	$	3,141	$	625	$	3,766