Attached files
file | filename |
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EX-32.B - SECTION 906 CERTIFICATION OF CHIEF FINANCIAL OFFICER - WALT DISNEY CO/ | fy2017_q2x10qxex32b.htm |
EX-32.A - SECTION 906 CERTIFICATION OF CHIEF EXECUTIVE OFFICER - WALT DISNEY CO/ | fy2017_q2x10qxex32a.htm |
EX-31.B - SECTION 302 CERTIFICATION OF CHIEF FINANCIAL OFFICER - WALT DISNEY CO/ | fy2017_q2x10qxex31b.htm |
EX-31.A - SECTION 302 CERTIFICATION OF CHIEF EXECUTIVE OFFICER - WALT DISNEY CO/ | fy2017_q2x10qxex31a.htm |
10-Q - FORM 10-Q - WALT DISNEY CO/ | fy2017_q2x10qxdoc.htm |
Exhibit 12.1
THE WALT DISNEY COMPANY
RATIO OF EARNINGS TO FIXED CHARGES
(AMOUNTS IN MILLIONS, EXCEPT RATIOS)
Six Months Ended | Fiscal Year Ended | ||||||||||||||||||||||||||
Apr. 1, 2017 | Apr. 2, 2016 | 2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||||||||
EARNINGS | |||||||||||||||||||||||||||
Income from continuing operations before income taxes | $ | 7,476 | $ | 7,804 | $ | 14,868 | $ | 13,868 | $ | 12,246 | $ | 9,620 | $ | 9,260 | |||||||||||||
Equity in the income of investees | (203 | ) | (624 | ) | (926 | ) | (814 | ) | (854 | ) | (688 | ) | (627 | ) | |||||||||||||
Cash distributions received from equity investees | 397 | 383 | 799 | 752 | 718 | 694 | 663 | ||||||||||||||||||||
Interest expense, amortization of debt discounts and premiums on all indebtedness and amortization of capitalized interest | 262 | 185 | 433 | 325 | 360 | 415 | 525 | ||||||||||||||||||||
Imputed interest on operating leases (1) | 143 | 142 | 282 | 286 | 294 | 292 | 288 | ||||||||||||||||||||
TOTAL EARNINGS | $ | 8,075 | $ | 7,890 | $ | 15,456 | $ | 14,417 | $ | 12,764 | $ | 10,333 | $ | 10,109 | |||||||||||||
FIXED CHARGES | |||||||||||||||||||||||||||
Interest expense and amortization of debt discounts and premiums on all indebtedness | $ | 236 | $ | 147 | $ | 354 | $ | 265 | $ | 294 | $ | 349 | $ | 472 | |||||||||||||
Capitalized interest | 45 | 74 | 139 | 110 | 73 | 77 | 92 | ||||||||||||||||||||
Imputed interest on operating leases (1) | 143 | 142 | 282 | 286 | 294 | 292 | 288 | ||||||||||||||||||||
TOTAL FIXED CHARGES | $ | 424 | $ | 363 | $ | 775 | $ | 661 | $ | 661 | $ | 718 | $ | 852 | |||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES (2) | 19.0 | 21.7 | 19.9 | 21.8 | 19.3 | 14.4 | 11.9 |
(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. |