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:	Sep 30, 2023	Oct 1, 2022	Oct 2, 2021	Oct 3, 2020	Sep 28, 2019	Sep 29, 2018
Net income (loss) from continuing operations	3,390)	3,553)	2,536)	(2,442)	10,913)	13,066)
Depreciation and amortization	5,369)	5,163)	5,111)	5,345)	4,160)	3,011)
Impairments of produced and licensed content costs and goodwill	2,987)	—)	—)	4,953)	—)	—)
Net (gain) loss on investments	(166)	714)	(332)	(920)	(4,794)	(560)
Deferred income taxes	(1,346)	200)	(1,241)	(392)	117)	(1,573)
Equity in the (income) loss of investees	(782)	(816)	(761)	(651)	103)	102)
Cash distributions received from equity investees	720)	779)	754)	774)	754)	775)
Net change in produced and licensed content costs and advances	(1,908)	(6,271)	(4,301)	397)	(542)	(523)
Equity-based compensation	1,143)	977)	600)	525)	711)	393)
Pension and postretirement medical cost amortization	4)	620)	816)	547)	278)	—)
Other, net	278)	595)	190)	125)	(72)	441)
Receivables	358)	605)	(357)	1,943)	55)	(720)
Inventories	(183)	(420)	252)	14)	(223)	(17)
Other assets	(201)	(707)	171)	(157)	932)	(927)
Accounts payable and other liabilities	(1,142)	964)	2,410)	(2,293)	191)	235)
Income taxes	1,345)	46)	(282)	(152)	(6,599)	592)
Changes in operating assets and liabilities	177)	488)	2,194)	(645)	(5,644)	(837)
Cash provided by operations	9,866)	6,002)	5,566)	7,616)	5,984)	14,295)
Investments in parks, resorts and other property	(4,969)	(4,943)	(3,578)	(4,022)	(4,876)	(4,465)
Proceeds from sales of investments	458)	52)	337)	—)	—)	—)
Acquisitions	—)	—)	—)	—)	(9,901)	(1,581)
Other, net	(130)	(117)	70)	172)	(319)	710)
Cash used in investing activities	(4,641)	(5,008)	(3,171)	(3,850)	(15,096)	(5,336)
Commercial paper borrowings (payments), net	(191)	(334)	(26)	(3,354)	4,318)	(1,768)
Borrowings	83)	333)	64)	18,120)	38,240)	1,056)
Reduction of borrowings	(1,675)	(4,016)	(3,737)	(3,533)	(38,881)	(1,871)
Dividends	—)	—)	—)	(1,587)	(2,895)	(2,515)
Repurchases of common stock	—)	—)	—)	—)	—)	(3,577)
Proceeds from exercise of stock options	52)	127)	435)	305)	318)	210)
Contributions from/sales of noncontrolling interests	735)	74)	91)	—)	—)	—)
Acquisition of redeemable noncontrolling interests	(900)	—)	(350)	—)	(1,430)	—)
Other, net	(828)	(913)	(862)	(1,471)	(134)	(378)
Cash provided by (used in) financing activities	(2,724)	(4,729)	(4,385)	8,480)	(464)	(8,843)
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	73)	(603)	30)	38)	(98)	(25)
Change in cash, cash equivalents and restricted cash	2,574)	(4,342)	(1,951)	12,499)	1,300)	91)
Cash, cash equivalents and restricted cash, beginning of year	11,661)	16,003)	17,954)	5,455)	4,155)	4,064)
Cash, cash equivalents and restricted cash, end of year	14,235)	11,661)	16,003)	17,954)	5,455)	4,155)

Based on: 10-K (reporting date: 2023-09-30), 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).

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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 increased from 2021 to 2022 and from 2022 to 2023.
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 decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.
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 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Walt Disney Co. (NYSE:DIS)

Cash Flow Statement