Income Taxes (Tables)

6 Months Ended

Mar. 30, 2024

Schedule of Deferred Tax Assets and Liabilities

The Company’s deferred tax assets and liabilities by major category as of March 30, 2024 and September 30, 2023 were as follows:


	March 30, 2024		September 30, 2023
Deferred tax assets
Net operating losses and tax credit carryforwards(1)	$	(3,465)	$	(3,841)
Accrued liabilities	(1,289)		(1,335)
Lease liabilities	(820)		(852)
Licensing revenues	(110)		(115)
Other	(684)		(623)
Total deferred tax assets	(6,368)		(6,766)
Deferred tax liabilities
Depreciable, amortizable and other property	7,266		7,581
Investment in subsidiaries / equity investees(2)	1,547		1,753
Right-of-use lease assets	720		751



Other	72		81
Total deferred tax liabilities	9,605		10,166
Net deferred tax liability before valuation allowance	3,237		3,400
Valuation allowance	3,017		3,187
Net deferred tax liability	$	6,254	$	6,587

(1)Balances at March 30, 2024 and September 30, 2023 include approximately $1.5 billion and $1.6 billion, respectively, of International Theme Park net operating losses and include approximately $0.8 billion and $1.0 billion, respectively, of foreign tax credits in the U.S. The International Theme Park net operating losses are primarily in France and, to a lesser extent, Hong Kong and China. Losses in France and Hong Kong have an indefinite carryforward period and losses in China have a five-year carryforward period. China theme park net operating losses of $0.1 billion, if not used, expire between fiscal 2025 and fiscal 2028. Foreign tax credits of $0.8 billion in the U.S. have a ten-year carryforward period and, if not used, expire beginning in fiscal 2028.

(2)Deferred tax liabilities on investment in subsidiaries / equity investees are, in part, due to the tax status of these entities. If the Company were to change the tax status of certain legal entities, a significant portion of these deferred taxes may reverse.