Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - WALT DISNEY CO/ | fy2018_q1x10qxdoc.htm |
| EX-32.B - SECTION 906 CERTIFICATION OF CHIEF FINANCIAL OFFICER - WALT DISNEY CO/ | fy2018_q1x10qxex32b.htm |
| EX-32.A - SECTION 906 CERTIFICATION OF CHIEF EXECUTIVE OFFICER - WALT DISNEY CO/ | fy2018_q1x10qxex32a.htm |
| EX-31.B - SECTION 302 CERTIFICATION OF CHIEF FINANCIAL OFFICER - WALT DISNEY CO/ | fy2018_q1x10qxex31b.htm |
| EX-31.A - SECTION 302 CERTIFICATION OF CHIEF EXECUTIVE OFFICER - WALT DISNEY CO/ | fy2018_q1x10qxex31a.htm |
| EX-10.4 - PERFORMANCE-BASED STOCK UNIT AWARD FOR ROBERT A. IGER - WALT DISNEY CO/ | fy2018_q1x10qex104.htm |
| EX-10.3 - PERFORMANCE-BASED STOCK UNIT AWARD (SUBJECT TO TSR TEST) FOR ROBERT A. IGER - WALT DISNEY CO/ | fy2018_q1x10qex103.htm |
Exhibit 12.1
THE WALT DISNEY COMPANY
RATIO OF EARNINGS TO FIXED CHARGES
(AMOUNTS IN MILLIONS, EXCEPT RATIOS)
Quarter Ended | Fiscal Year Ended | ||||||||||||||||||||||||||
Dec. 30, 2017 | Dec. 31, 2016 | 2017 | 2016 | 2015 | 2014 | 2013 | |||||||||||||||||||||
EARNINGS | |||||||||||||||||||||||||||
Income from continuing operations before income taxes | $ | 3,745 | $ | 3,725 | $ | 13,788 | $ | 14,868 | $ | 13,868 | $ | 12,246 | $ | 9,620 | |||||||||||||
Equity in the income of investees | (43 | ) | (118 | ) | (320 | ) | (926 | ) | (814 | ) | (854 | ) | (688 | ) | |||||||||||||
Cash distributions received from equity investees | 170 | 203 | 788 | 799 | 752 | 718 | 694 | ||||||||||||||||||||
Interest expense, amortization of debt discounts and premiums on all indebtedness and amortization of capitalized interest | 170 | 139 | 589 | 433 | 325 | 360 | 415 | ||||||||||||||||||||
Imputed interest on operating leases (1) | 75 | 70 | 289 | 282 | 286 | 294 | 292 | ||||||||||||||||||||
TOTAL EARNINGS | $ | 4,117 | $ | 4,019 | $ | 15,134 | $ | 15,456 | $ | 14,417 | $ | 12,764 | $ | 10,333 | |||||||||||||
FIXED CHARGES | |||||||||||||||||||||||||||
Interest expense and amortization of debt discounts and premiums on all indebtedness | $ | 146 | $ | 121 | $ | 507 | $ | 354 | $ | 265 | $ | 294 | $ | 349 | |||||||||||||
Capitalized interest | 26 | 21 | 87 | 139 | 110 | 73 | 77 | ||||||||||||||||||||
Imputed interest on operating leases (1) | 75 | 70 | 289 | 282 | 286 | 294 | 292 | ||||||||||||||||||||
TOTAL FIXED CHARGES | $ | 247 | $ | 212 | $ | 883 | $ | 775 | $ | 661 | $ | 661 | $ | 718 | |||||||||||||
RATIO OF EARNINGS TO FIXED CHARGES (2) | 16.7 | 19.0 | 17.1 | 19.9 | 21.8 | 19.3 | 14.4 | ||||||||||||||||||||
(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. |