← Walt Disney Co

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net Income From Continuing Operations — — — — — — $3.6b $3.4b $5.8b $13.4b
Net Income (Loss) Attributable to Parent $9.8b $9.4b $13.1b $11.1b ($2.9b) $2.0b $3.1b $2.4b $5.0b $12.4b
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest — — — $11.6b ($2.5b) $2.5b $3.5b $3.4b $5.8b $13.4b
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest — — — $10.9b ($2.4b) $2.5b $3.6b $3.4b $5.8b —
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest — — — $671.0m ($32.0m) ($29.0m) ($48.0m) $0 $0 —
Net Income (Loss) Attributable to Noncontrolling Interest — — — $530.0m $390.0m $512.0m $360.0m $1.0b $801.0m $1.0b
Depreciation, Depletion and Amortization $2.5b $2.8b $3.0b $4.2b $5.3b $5.1b $5.2b $5.4b $5.0b $5.3b
Amortization of Intangible Assets — — — $1.3b $2.2b $2.0b $2.0b $1.7b $1.6b $1.5b
Depreciation $2.5b $2.8b $3.0b $2.8b $3.1b $3.1b $3.2b $3.6b $3.4b $3.9b
Amortization Cash Flow — — — — — — $3.2b $3.6b $3.4b $3.9b
Amortization Of Intangibles — — — — — — $3.2b $3.6b $3.4b $3.9b
Depreciation Amortization Depletion — — — — — — $5.2b $5.4b $5.0b $5.3b
Deferred Income Tax Expense (Benefit) — — — $2.1b ($275.0m) ($1.3b) $168.0m ($1.4b) ($807.0m) ($2.6b)
Deferred income taxes $1.2b $334.0m ($1.6b) $117.0m ($392.0m) ($1.2b) $200.0m ($1.3b) ($821.0m) ($2.7b)
Deferred Income Tax — — — — — — $200.0m ($1.3b) ($821.0m) ($2.7b)
Deferred Tax — — — — — — $200.0m ($1.3b) ($821.0m) ($2.7b)
Share-based Payment Arrangement, Noncash Expense — — — $711.0m $525.0m $600.0m $977.0m $1.1b $1.4b $1.4b
Share-based Payment Arrangement, Expense — — — $711.0m $525.0m $600.0m $977.0m $1.1b $1.4b $1.4b
Equity Method Investment, Other than Temporary Impairment — — — $538.0m $0 $0 — — — —
Goodwill and Intangible Asset Impairment — — — — $5.0b $0 $0 $3.0b $3.5b $871.0m
Goodwill, Impairment Loss — — — — $3.1b — — $721.0m $2.6b —
Impairment of Intangible Assets (Excluding Goodwill) — — — $538.0m $5.2b $300.0m $200.0m $3.0b — —
Restructuring Costs and Asset Impairment Charges — — — $1.2b $5.7b $654.0m $237.0m $3.8b $3.6b $819.0m
Impairments of goodwill, produced and licensed content and other assets — — $0 $0 $5.0b $0 $0 $3.0b $3.5b $871.0m
Asset Impairment Charge — — — — — — $212.0m $3.1b $3.5b $871.0m
Equity Method Investment, Realized Gain (Loss) on Disposal — — — — $65.0m $0 — — — —
Gain (Loss) on Extinguishment of Debt — — — ($511.0m) $0 $0 — — — —
Income (Loss) from Equity Method Investments — — — ($103.0m) $651.0m $761.0m $816.0m $782.0m $575.0m $295.0m
Income Tax Expense (Benefit) — — — $3.0b $699.0m $25.0m $1.7b $1.4b $1.8b ($1.4b)
Operating Lease, Expense — — — — $899.0m $853.0m $796.0m $820.0m — —
Operating Lease, Lease Income — — — — — — — — $600.0m $600.0m
Other Nonoperating Income (Expense) — — — — — — ($4.0m) ($73.0m) — —
Gain on acquisitions and dispositions ($26.0m) ($289.0m) ($560.0m) — — — — — — —
Earnings (Loss)es From Equity Investments — — — — — — ($816.0m) ($782.0m) ($575.0m) ($295.0m)
Changes in operating assets and liabilities:
Additional Financial Items
Increase (Decrease) in Inventories — — — $223.0m ($14.0m) ($252.0m) $420.0m $183.0m $42.0m $114.0m
Gain (Loss) on Investments — — — — $973.0m — — — — —
Gain (Loss) on Sale of Properties — — — $28.0m $0 $0 — — — —
Gain (Loss) Related to Litigation Settlement — — — $46.0m $0 $0 — — — —
Goodwill — — — $80.3b $77.7b $78.1b $77.9b $77.1b $73.3b $73.3b
Nonoperating Income (Expense) — — — $4.4b $1.0b $201.0m ($667.0m) $96.0m ($65.0m) $0
Operating Costs and Expenses — — — $42.0b — — — — — —
Proceeds from Stock Options Exercised $259.0m $276.0m $210.0m $318.0m $305.0m $435.0m $127.0m $52.0m $88.0m $233.0m
Stock or Unit Option Plan Expense — — — $84.0m $101.0m $95.0m $88.0m $76.0m $71.0m $70.0m
Equity in the income of investees ($926.0m) ($320.0m) $102.0m $103.0m ($651.0m) ($761.0m) ($816.0m) ($782.0m) ($575.0m) ($295.0m)
Cash distributions received from equity investees $799.0m $788.0m $775.0m $754.0m $774.0m $754.0m $779.0m $720.0m $437.0m $145.0m
Net change in produced and licensed content costs and advances ($101.0m) ($1.1b) ($523.0m) ($542.0m) $397.0m ($4.3b) ($6.3b) ($1.9b) $1.0b $577.0m
Equity-based compensation $393.0m $364.0m $393.0m $711.0m $525.0m $600.0m $977.0m $1.1b $1.4b $1.4b
Other, net $674.0m $503.0m $441.0m $206.0m $641.0m $144.0m ($839.0m) ($828.0m) ($929.0m) ($1.0b)
Receivables ($393.0m) $107.0m ($720.0m) $55.0m $1.9b ($357.0m) $605.0m $358.0m ($565.0m) ($283.0m)
Inventories $186.0m ($5.0m) ($17.0m) ($223.0m) $14.0m $252.0m ($420.0m) ($183.0m) ($42.0m) ($114.0m)
Other assets ($443.0m) ($52.0m) ($927.0m) $932.0m ($157.0m) $171.0m ($707.0m) ($201.0m) $265.0m ($42.0m)
Accounts payable and other liabilities $40.0m ($368.0m) $235.0m $191.0m ($2.3b) $2.4b $964.0m ($1.1b) $156.0m $237.0m
Income taxes ($598.0m) $208.0m $592.0m ($6.6b) ($152.0m) ($282.0m) $46.0m $1.3b ($1.4b) ($228.0m)
Cash provided by operations $13.1b $12.3b $14.3b — — — — $9.9b $14.0b $18.1b
Investments in parks, resorts and other property ($4.8b) ($3.6b) ($4.5b) ($4.9b) ($4.0b) ($3.6b) ($4.9b) ($5.0b) ($5.4b) ($8.0b)
Cash used in investing activities ($5.8b) ($4.1b) ($5.3b) — — — ($5.0b) ($4.6b) ($6.9b) ($8.0b)
Commercial paper borrowings (payments), net — — ($1.8b) $4.3b ($3.4b) ($26.0m) ($334.0m) ($191.0m) $1.5b ($943.0m)
Borrowings $6.1b $4.8b $1.1b $38.2b $18.1b $64.0m $333.0m $83.0m $132.0m $1.1b
Reduction of borrowings ($2.2b) ($2.4b) ($1.9b) ($38.9b) ($3.5b) ($3.7b) ($4.0b) ($1.7b) ($3.1b) ($3.7b)
Cash used in financing activities ($7.2b) ($9.0b) ($8.8b) — — — — ($2.7b) ($15.3b) ($10.4b)
Acquisitions ($850.0m) ($417.0m) ($1.6b) — — — — — — —
Other ($135.0m) ($71.0m) $710.0m — — — — — — —
Commercial paper borrowings/(payments), net ($920.0m) $1.2b ($1.8b) $4.3b $3.4b $26.0m $334.0m $191.0m $1.5b $943.0m
Proceeds from exercise of stock options $259.0m $276.0m $210.0m — — — — — — —
Beginning Cash Position — — — — — — $16.0b $11.7b $14.2b $6.1b
Cash Flow From Continuing Financing Activities — — — — — — ($4.7b) ($2.7b) ($15.3b) ($10.4b)
Cash Flow From Continuing Investing Activities — — — — — — ($5.0b) ($4.6b) ($6.9b) ($8.0b)
Cash From Discontinued Financing Activities — — — — — $0 ($12.0m) $0 $0 —
Cash From Discontinued Investing Activities — — — — — $8.0m $0 $0 — —
Change In Account Payable — — — — — — $964.0m ($1.1b) $156.0m $237.0m
Change In Inventory — — — — — — ($420.0m) ($183.0m) ($42.0m) ($114.0m)
Change In Other Current Assets — — — — — — ($707.0m) ($201.0m) $265.0m ($42.0m)
Change In Other Working Capital — — — — — — $46.0m $1.3b ($1.4b) ($228.0m)
Change In Payable — — — — — — $964.0m ($1.1b) $156.0m $237.0m
Change In Payables And Accrued Expense — — — — — — $964.0m ($1.1b) $156.0m $237.0m
Change In Receivables — — — — — — $605.0m $358.0m ($565.0m) ($283.0m)
Change In Working Capital — — — — — — $488.0m $177.0m ($1.6b) ($430.0m)
Changes In Cash — — — — — — ($3.7b) $2.5b ($8.2b) ($308.0m)
End Cash Position — — — — — — $11.7b $14.2b $6.1b $5.8b
Financing Cash Flow — — — — — — ($4.7b) ($2.7b) ($15.3b) ($10.4b)
Free Cash Flow — — — — — — $1.1b $4.9b $8.6b $10.1b
Gain Loss On Investment Securities — — — — — ($332.0m) $714.0m ($166.0m) $5.0m —
Investing Cash Flow — — — — — — ($5.0b) ($4.6b) ($6.9b) ($8.0b)
Net PPE Purchase And Sale — — — — — — ($4.9b) ($5.0b) ($5.4b) ($8.0b)
Operating Gains Losses — — — — — — $518.0m ($782.0m) ($575.0m) ($295.0m)
Other Non Cash Items — — — — — — ($5.9b) ($1.9b) $903.0m $429.0m
Pension And Employee Benefit Expense — — — — — $816.0m $620.0m $4.0m ($96.0m) —
Proceeds From Stock Option Exercised — — — — — $435.0m $127.0m $52.0m — —
Purchase Of PPE — — — $4.9b $4.0b $3.6b ($4.9b) ($5.0b) ($5.4b) ($8.0b)
Repurchase Of Capital Stock — — — — — — $0 $0 ($3.0b) ($3.5b)
Stock Based Compensation — — — — — — $977.0m $1.1b $1.4b $1.4b
Net Cash Provided by (Used in) Operating Activities — — — $6.0b $7.6b $5.6b $6.0b $9.9b $14.0b $18.1b
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment — — — $4.9b $4.0b $3.6b $4.9b $5.0b $5.4b $8.0b
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain (Loss), Net — — — $4.8b $0 $0 — — — —
Purchase of investments — — — — — — $0 $0 ($1.5b) ($98.0m)
Net Investment Purchase And Sale — — — — — — $52.0m $458.0m ($1.4b) ($94.0m)
Purchase Of Investment — — — — — — $0 $0 ($1.5b) ($98.0m)
Gain (Loss) on Sale of Investments — — — $4.8b $920.0m $332.0m ($714.0m) $166.0m ($5.0m) —
Proceeds from sales of investments — — — — — $337.0m $52.0m $458.0m $105.0m $4.0m
Sale Of Investment — — — — — — $52.0m $458.0m $105.0m $4.0m
Payments for (Proceeds from) Other Investing Activities — — — $319.0m ($172.0m) ($407.0m) $65.0m $130.0m $68.0m ($75.0m)
Net Other Investing Changes — — — — — — ($117.0m) ($130.0m) ($68.0m) $75.0m
Net Cash Provided by (Used in) Investing Activities ($5.8b) ($4.1b) ($5.3b) — — — ($5.0b) ($4.6b) ($6.9b) ($8.0b)
Cash flows from financing activities:
Proceeds from Issuance of Long-term Debt — — — $38.2b $18.1b $64.0m $333.0m $83.0m $132.0m $1.1b
Issuance Of Debt — — — — — — $333.0m $83.0m $132.0m $1.1b
Long Term Debt Issuance — — — — — — $333.0m $83.0m $132.0m $1.1b
Net Issuance Payments Of Debt — — — — — — ($4.0b) ($1.8b) ($1.4b) ($3.6b)
Net Long Term Debt Issuance — — — — — — ($3.7b) ($1.6b) ($2.9b) ($2.7b)
Net Short Term Debt Issuance — — — — — — ($334.0m) ($191.0m) $1.5b ($943.0m)
Repayments of Long-term Debt — — — $38.9b $3.5b $3.7b $4.0b $1.7b $3.1b $3.7b
Long Term Debt Payments — — — — — — ($4.0b) ($1.7b) ($3.1b) ($3.7b)
Repayment Of Debt — — — — — — ($4.0b) ($1.7b) ($3.1b) ($3.7b)
Net Common Stock Issuance — — — — — — $0 $0 ($3.0b) ($3.5b)
Payments for Repurchase of Common Stock — — — $0 $0 — — — $3.0b $3.5b
Payments of Ordinary Dividends, Common Stock — — — $2.9b $1.6b $0 $0 — $1.4b $1.8b
Repurchases of common stock ($7.5b) ($9.4b) ($3.6b) $0 $0 — $0 $0 ($3.0b) ($3.5b)
Common Stock Payments — — — — — — $0 $0 ($3.0b) ($3.5b)
Proceeds from Noncontrolling Interests — — — $737.0m $94.0m $91.0m — $735.0m $9.0m $12.0m
Contributions from noncontrolling interests $0 $17.0m $399.0m $737.0m $94.0m $91.0m $74.0m $735.0m $9.0m $12.0m
Acquisition of redeemable noncontrolling interests — $0 $0 ($1.4b) $0 ($350.0m) $0 ($900.0m) ($8.6b) ($439.0m)
Dividends ($2.3b) ($2.4b) ($2.5b) ($2.9b) ($1.6b) $0 $0 $0 ($1.4b) ($1.8b)
Cash Dividends Paid — — — — — — $0 $0 ($1.4b) ($1.8b)
Common Stock Dividend Paid — — — — — — $0 $0 ($1.4b) ($1.8b)
Dividend Received CFO — — — — — — $779.0m $720.0m $437.0m $145.0m
Proceeds from (Payments for) Other Financing Activities — — — ($871.0m) ($1.6b) ($862.0m) ($839.0m) ($828.0m) ($929.0m) ($1.0b)
Net Other Financing Charges — — — — — — ($712.0m) ($941.0m) ($9.5b) ($1.4b)
Net Cash Provided by (Used in) Financing Activities ($7.2b) ($9.0b) ($8.8b) — — — — ($2.7b) ($15.3b) ($10.4b)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents — — — ($98.0m) $38.0m $30.0m ($603.0m) $73.0m $65.0m $5.0m
Effect of Exchange Rate on Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Including Discontinued Operation — — — — $38.0m $30.0m ($603.0m) $73.0m $65.0m $5.0m
Impact of exchange rates on cash, cash equivalents and restricted cash ($123.0m) $31.0m ($25.0m) — — — — — — —
Effect Of Exchange Rate Changes — — — — — — ($603.0m) $73.0m $65.0m $5.0m
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect — — — $1.3b $12.5b ($2.0b) ($4.3b) $2.6b ($8.1b) ($303.0m)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $35.0m ($696.0m) $91.0m $5.5b $18.0b $16.0b $11.7b $14.2b $6.1b $5.8b
Restricted Cash and Investments, Current — — — $26.0m $3.0m $3.0m $3.0m $0 $0 —
Change in Cash, Cash Equivalents and Restricted Cash $35.0m ($696.0m) $91.0m $1.3b $12.5b ($2.0b) ($4.3b) $2.6b ($8.1b) ($303.0m)
Cash, cash equivalents and restricted cash, beginning of year $4.7b $4.1b $4.2b $5.5b $18.0b $16.0b $11.7b $14.2b $6.1b $5.8b
Cash and Cash Equivalents and Restricted Cash, Beginning of Year $4.7b $4.8b $4.2b $5.5b $18.0b $16.0b $11.7b $14.2b $6.1b $5.8b
Supplemental disclosure of cash flow information:
Change In Cash Supplemental As Reported — — — — — — ($4.3b) $2.6b ($8.1b) ($303.0m)
Interest Paid, Excluding Capitalized Interest, Operating Activities $395.0m $466.0m $631.0m $1.1b $1.6b $1.9b $1.7b $2.1b $2.1b $2.0b
Income taxes paid $4.1b $3.8b $2.5b $9.3b $738.0m $1.6b $1.1b $1.2b $4.0b $1.2b

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.