Stock Analysis on Net
Stock Analysis on Net

Walt Disney Co. (NYSE:DIS)

Income Statement
Quarterly Data

Beginner level

The income statement presents information on the financial results of a company’s business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Walt Disney Co., consolidated income statement (quarterly data)

US$ in millions

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3 months ended: Oct 3, 2020 Jun 27, 2020 Mar 28, 2020 Dec 28, 2019 Sep 28, 2019 Jun 29, 2019 Mar 30, 2019 Dec 29, 2018 Sep 29, 2018 Jun 30, 2018 Mar 31, 2018 Dec 30, 2017 Sep 30, 2017 Jul 1, 2017 Apr 1, 2017 Dec 31, 2016 Oct 1, 2016 Jul 2, 2016 Apr 2, 2016 Jan 2, 2016 Oct 3, 2015 Jun 27, 2015 Mar 28, 2015 Dec 27, 2014
Services 13,781  11,235  16,174  18,075  16,648  18,022  13,006  12,866  12,223  13,142  12,520  12,984  10,853  12,097  11,487  12,406  11,224  12,113  11,171  12,622  11,307  11,308  10,552  10,727 
Products 961  544  1,835  2,783  2,452  2,223  1,916  2,437  2,084  2,086  2,028  2,367  1,926  2,141  1,849  2,378  1,918  2,164  1,798  2,622  2,205  1,793  1,909  2,664 
Revenues 14,742  11,779  18,009  20,858  19,100  20,245  14,922  15,303  14,307  15,228  14,548  15,351  12,779  14,238  13,336  14,784  13,142  14,277  12,969  15,244  13,512  13,101  12,461  13,391 
Cost of services, exclusive of depreciation and amortization (10,156) (7,209) (10,664) (11,377) (10,274) (11,445) (7,167) (7,564) (6,766) (7,124) (6,304) (7,334) (5,992) (6,469) (5,839) (7,020) (6,085) (5,946) (5,566) (7,056) (5,967) (5,547) (5,543) (6,134)
Cost of products, exclusive of depreciation and amortization (894) (687) (1,254) (1,639) (1,548) (1,374) (1,209) (1,437) (1,342) (1,224) (1,229) (1,403) (1,222) (1,248) (1,130) (1,386) (1,220) (1,255) (1,298) (1,567) (1,388) (1,116) (1,147) (1,522)
Cost of revenues, exclusive of depreciation and amortization (11,050) (7,896) (11,918) (13,016) (11,822) (12,819) (8,376) (9,001) (8,108) (8,348) (7,533) (8,737) (7,214) (7,717) (6,969) (8,406) (7,305) (7,201) (6,864) (8,623) (7,355) (6,663) (6,690) (7,656)
Gross profit 3,692  3,883  6,091  7,842  7,278  7,426  6,546  6,302  6,199  6,880  7,015  6,614  5,565  6,521  6,367  6,378  5,837  7,076  6,105  6,621  6,157  6,438  5,771  5,735 
Selling, general, administrative and other (2,823) (2,455) (3,388) (3,703) (3,700) (3,362) (2,327) (2,152) (2,322) (2,212) (2,247) (2,079) (2,228) (2,022) (1,941) (1,985) (2,287) (2,305) (2,137) (2,025) (2,406) (2,101) (2,081) (1,935)
Depreciation and amortization (1,337) (1,377) (1,333) (1,298) (1,296) (1,304) (828) (732) (794) (744) (731) (742) (708) (711) (676) (687) (689) (626) (605) (607) (603) (575) (584) (592)
Restructuring and impairment charges (393) (5,047) (145) (150) (314) (207) (662) —  (5) —  (13) (15) (98) —  —  —  (31) (44) —  (81) (53) —  —  — 
Operating income (loss) (861) (4,996) 1,225  2,691  1,968  2,553  2,729  3,418  3,078  3,924  4,024  3,778  2,531  3,788  3,750  3,706  2,830  4,101  3,363  3,908  3,095  3,762  3,106  3,208 
Other income (expense), net 656  382  —  —  (483) (123) 4,963  —  507  —  41  53  255  (177) —  —  —  —  —  —  —  —  —  — 
Interest income (expense), net (496) (412) (300) (283) (361) (411) (143) (63) (159) (143) (143) (129) (85) (117) (84) (99) (99) (70) (67) (24) (55) (12) (58)
Equity in the income (loss) of investees 106  186  135  224  134  (1) (312) 76  (224) 73  43  (7) 124  85  118  150  152  150  474  184  212  206  212 
Income (loss) from continuing operations before income taxes (595) (4,840) 1,060  2,632  1,258  2,018  7,237  3,431  3,202  3,854  3,928  3,745  2,694  3,618  3,751  3,725  2,881  4,183  3,446  4,358  3,224  3,962  3,320  3,362 
Income taxes on continuing operations (46) 331  (525) (459) (344) (395) (1,647) (645) (783) (795) (813) 728  (829) (1,144) (1,212) (1,237) (989) (1,471) (1,170) (1,448) (1,483) (1,323) (1,092) (1,118)
Net income (loss) from continuing operations (641) (4,509) 535  2,173  914  1,623  5,590  2,786  2,419  3,059  3,115  4,473  1,865  2,474  2,539  2,488  1,892  2,712  2,276  2,910  1,741  2,639  2,228  2,244 
Income (loss) from discontinued operations, net of income tax 12  (3) (15) (26) 291  359  21  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Net income (loss) (629) (4,512) 520  2,147  1,205  1,982  5,611  2,786  2,419  3,059  3,115  4,473  1,865  2,474  2,539  2,488  1,892  2,712  2,276  2,910  1,741  2,639  2,228  2,244 
Net (income) loss attributable to noncontrolling interests (81) (209) (60) (40) (151) (222) (159) (97) (143) (178) (50) (118) (108) (151) (9) (121) (115) (133) (30) (132) (156) (120) (62)
Net income (loss) attributable to The Walt Disney Company (Disney) (710) (4,721) 460  2,107  1,054  1,760  5,452  2,788  2,322  2,916  2,937  4,423  1,747  2,366  2,388  2,479  1,771  2,597  2,143  2,880  1,609  2,483  2,108  2,182 

Based on: 10-K (filing date: 2020-11-25), 10-Q (filing date: 2020-08-04), 10-Q (filing date: 2020-05-05), 10-Q (filing date: 2020-02-04), 10-K (filing date: 2019-11-20), 10-Q (filing date: 2019-08-06), 10-Q (filing date: 2019-05-08), 10-Q (filing date: 2019-02-05), 10-K (filing date: 2018-11-21), 10-Q (filing date: 2018-08-07), 10-Q (filing date: 2018-05-08), 10-Q (filing date: 2018-02-06), 10-K (filing date: 2017-11-22), 10-Q (filing date: 2017-08-08), 10-Q (filing date: 2017-05-09), 10-Q (filing date: 2017-02-07), 10-K (filing date: 2016-11-23), 10-Q (filing date: 2016-08-09), 10-Q (filing date: 2016-05-10), 10-Q (filing date: 2016-02-09), 10-K (filing date: 2015-11-25), 10-Q (filing date: 2015-08-04), 10-Q (filing date: 2015-05-05), 10-Q (filing date: 2015-02-03).

Income statement item Description The company
Revenues Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. Walt Disney Co.’s revenues decreased from Q2 2020 to Q3 2020 but then slightly increased from Q3 2020 to Q4 2020.
Operating income (loss) The net result for the period of deducting operating expenses from operating revenues. Walt Disney Co.’s operating income (loss) decreased from Q2 2020 to Q3 2020 but then increased from Q3 2020 to Q4 2020 not reaching Q2 2020 level.
Income (loss) from continuing operations before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Walt Disney Co.’s income (loss) from continuing operations before income taxes decreased from Q2 2020 to Q3 2020 but then increased from Q3 2020 to Q4 2020 not reaching Q2 2020 level.
Net income (loss) attributable to The Walt Disney Company (Disney) The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Walt Disney Co.’s net income (loss) attributable to The Walt Disney Company (Disney) decreased from Q2 2020 to Q3 2020 but then increased from Q3 2020 to Q4 2020 not reaching Q2 2020 level.