Attached files
| file | filename |
|---|---|
| EX-32.A - SECTION 906 CERTIFICATION OF CHIEF EXECUTIVE OFFICER - WALT DISNEY CO/ | fy2016_q1x10qxex32a.htm |
| EX-31.A - SECTION 302 CERTIFICATION OF CHIEF EXECUTIVE OFFICER - WALT DISNEY CO/ | fy2016_q1x10qxex31a.htm |
| EX-31.B - SECTION 302 CERTIFICATION OF CHIEF FINANCIAL OFFICER - WALT DISNEY CO/ | fy2016_q1x10qxex31b.htm |
| 10-Q - FORM 10-Q - WALT DISNEY CO/ | fy2016_q1x10qxdoc.htm |
| EX-32.B - SECTION 906 CERTIFICATION OF CHIEF FINANCIAL OFFICER - WALT DISNEY CO/ | fy2016_q1x10qxex32b.htm |
Exhibit 12.1
THE WALT DISNEY COMPANY
RATIO OF EARNINGS TO FIXED CHARGES
(AMOUNTS IN MILLIONS, EXCEPT RATIOS)
Quarter Ended | Fiscal Year Ended | ||||||||||||||||||||||||||
Jan. 2, 2016 | Dec. 27, 2014 | 2015 | 2014 | 2013 | 2012 | 2011 | |||||||||||||||||||||
EARNINGS | |||||||||||||||||||||||||||
Income from continuing operations before income taxes | $ | 4,358 | $ | 3,362 | $ | 13,868 | $ | 12,246 | $ | 9,620 | $ | 9,260 | $ | 8,043 | |||||||||||||
Equity in the income of investees | (474 | ) | (212 | ) | (814 | ) | (854 | ) | (688 | ) | (627 | ) | (585 | ) | |||||||||||||
Cash distributions received from equity investees | 206 | 197 | 752 | 718 | 694 | 663 | 608 | ||||||||||||||||||||
Interest expense, amortization of debt discounts and premiums on all indebtedness and amortization of capitalized interest | 86 | 85 | 325 | 360 | 415 | 525 | 497 | ||||||||||||||||||||
Imputed interest on operating leases (1) | 72 | 72 | 286 | 294 | 292 | 288 | 273 | ||||||||||||||||||||
TOTAL EARNINGS | $ | 4,248 | $ | 3,504 | $ | 14,417 | $ | 12,764 | $ | 10,333 | $ | 10,109 | $ | 8,836 | |||||||||||||
FIXED CHARGES | |||||||||||||||||||||||||||
Interest expense and amortization of debt discounts and premiums on all indebtedness | $ | 66 | $ | 69 | $ | 265 | $ | 294 | $ | 349 | $ | 472 | $ | 435 | |||||||||||||
Capitalized interest | 34 | 20 | 68 | 73 | 77 | 92 | 91 | ||||||||||||||||||||
Imputed interest on operating leases (1) | 72 | 72 | 286 | 294 | 292 | 288 | 273 | ||||||||||||||||||||
TOTAL FIXED CHARGES | $ | 172 | $ | 161 | $ | 619 | $ | 661 | $ | 718 | $ | 852 | $ | 799 | |||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES (2) | 24.7 | 21.8 | 23.3 | 19.3 | 14.4 | 11.9 | 11.1 | ||||||||||||||||||||
(1) | The portion of operating rental expense which management believes is representative of the interest component of rent expense. |
(2) | The ratio does not adjust for interest on unrecognized tax benefits that are recorded as a component of income tax expense. |