Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Walt Disney Co., consolidated cash flow statement

US$ in millions

12 months ended:	Oct 1, 2022	Oct 2, 2021	Oct 3, 2020	Sep 28, 2019	Sep 29, 2018	Sep 30, 2017
Net income (loss) from continuing operations	3,553)	2,536)	(2,442)	10,913)	13,066)	9,366)
Depreciation and amortization	5,163)	5,111)	5,345)	4,160)	3,011)	2,782)
Goodwill and intangible asset impairments	—)	—)	4,953)	—)	—)	—)
Net (gain) loss on investments	714)	(332)	(920)	(4,794)	(560)	(289)
Deferred income taxes	200)	(1,241)	(392)	117)	(1,573)	334)
Equity in the (income) loss of investees	(816)	(761)	(651)	103)	102)	(320)
Cash distributions received from equity investees	779)	754)	774)	754)	775)	788)
Net change in produced and licensed content costs and advances	(6,271)	(4,301)	397)	(542)	(523)	(1,075)
Equity-based compensation	977)	600)	525)	711)	393)	364)
Pension and postretirement medical cost amortization	620)	816)	547)	278)	—)	—)
Other, net	595)	190)	125)	(72)	441)	503)
Receivables	605)	(357)	1,943)	55)	(720)	107)
Inventories	(420)	252)	14)	(223)	(17)	(5)
Other assets	(707)	171)	(157)	932)	(927)	(52)
Accounts payable and other liabilities	964)	2,410)	(2,293)	191)	235)	(368)
Income taxes	46)	(282)	(152)	(6,599)	592)	208)
Changes in operating assets and liabilities	488)	2,194)	(645)	(5,644)	(837)	(110)
Cash provided by operations	6,002)	5,566)	7,616)	5,984)	14,295)	12,343)
Investments in parks, resorts and other property	(4,943)	(3,578)	(4,022)	(4,876)	(4,465)	(3,623)
Acquisitions	—)	—)	—)	(9,901)	(1,581)	(417)
Other	(65)	407)	172)	(319)	710)	(71)
Cash used in investing activities	(5,008)	(3,171)	(3,850)	(15,096)	(5,336)	(4,111)
Commercial paper borrowings (payments), net	(334)	(26)	(3,354)	4,318)	(1,768)	1,247)
Borrowings	333)	64)	18,120)	38,240)	1,056)	4,820)
Reduction of borrowings	(4,016)	(3,737)	(3,533)	(38,881)	(1,871)	(2,364)
Dividends	—)	—)	(1,587)	(2,895)	(2,515)	(2,445)
Repurchases of common stock	—)	—)	—)	—)	(3,577)	(9,368)
Proceeds from exercise of stock options	127)	435)	305)	318)	210)	276)
Acquisition of redeemable noncontrolling interests	—)	(350)	—)	(1,430)	—)	—)
Other	(839)	(771)	(1,471)	(134)	(378)	(1,125)
Cash provided by (used in) financing activities	(4,729)	(4,385)	8,480)	(464)	(8,843)	(8,959)
Cash provided by operations, discontinued operations	8)	1)	2)	622)	—)	—)
Cash provided by investing activities, discontinued operations	—)	8)	213)	10,978)	—)	—)
Cash used in financing activities, discontinued operations	(12)	—)	—)	(626)	—)	—)
Cash provided by (used in) discontinued operations	(4)	9)	215)	10,974)	—)	—)
Impact of exchange rates on cash, cash equivalents and restricted cash	(603)	30)	38)	(98)	(25)	31)
Change in cash, cash equivalents and restricted cash	(4,342)	(1,951)	12,499)	1,300)	91)	(696)
Cash, cash equivalents and restricted cash, beginning of year	16,003)	17,954)	5,455)	4,155)	4,064)	4,760)
Cash, cash equivalents and restricted cash, end of year	11,661)	16,003)	17,954)	5,455)	4,155)	4,064)

Based on: 10-K (reporting date: 2022-10-01), 10-K (reporting date: 2021-10-02), 10-K (reporting date: 2020-10-03), 10-K (reporting date: 2019-09-28), 10-K (reporting date: 2018-09-29), 10-K (reporting date: 2017-09-30).

Cash flow statement item	Description	The company
Cash provided by operations	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Walt Disney Co. cash provided by operations decreased from 2020 to 2021 but then slightly increased from 2021 to 2022.
Cash used in investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Walt Disney Co. cash used in investing activities increased from 2020 to 2021 but then decreased significantly from 2021 to 2022.
Cash provided by (used in) financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Walt Disney Co. cash provided by (used in) financing activities decreased from 2020 to 2021 and from 2021 to 2022.

Walt Disney Co. (NYSE:DIS)

Cash Flow Statement