Walt Disney Financial Report
1. Executive Summary
The purpose of this report is to examine the specific details of The Walt Disney Company. It will go in depth about the structure of the company and its finances. The results of this report showed that it is a very expansive and successful company. There are many different areas and sections of this company that need to be in tune in order to guarantee the success of the company, it all must work together. 2. Company Facts
a. The Walt Disney Company
b. 500 South Buena Vista St. Burbank, Californa
c. October 3rd
d. Theme parks, merchandise, movies, t.v. shows
e. Highest price of common stock: $120.07, Lowest price of common stock: $77.01
f. Current price of common stock: $103.77
g. New York Stock Exchange …show more content…
h. DIS
2. SEC Compliance
a. Annual report sections: Business, Risk Factors, Unresolved Staff Comments, Properties, Legal Proceedings, Mine Safety Disclosures, Market for the Company’s Common Equity, Selected Financial Data, Managements Discussion and Analysis of Financial Conditions and Results of Operations, Quantitative and Qualitative Disclosures about Market Risk, Financial Statements and Supplementary Data, Changes in Disagreements with Accountants on Accounting and Financial Disclosure, Controls and Procedures, Directors, Executive Officers and Corporate Governance, Executive Compensation, Security Ownership of Certain Beneficial Owners, Certain Relationships and Related Transactions, Principal Accounting Fees and Services, Exhibits and Financial Statement Schedules
b. Managements responsibility
c. Audit Committee: Robert Matschullat, Aylwin Lewis, John S. Chen, Fred K. Langhammer
d. The committee talked about Pricewatercoopers LLP and its independence, they talked about programs to maintain the strength of the Company’s structure and procedures and finally they encouraged the board to include audited financial statements in the annual report.
e. Interim report: Stock was up about 29% and net income rose 22%
3. Business and Strategy Analysis
a. SIC: 4832, 4841, 7812, 7996, 7011, 4833
b.
Entertainment; movies, theme parks, t.v. shows, etc
c. Competitors: Comcast(Universal theme parks and Dreamworks animation studios), NBC, CBS, Paramount, Seaworld, Lego Land, Merlin Entertainment
d. Future prospects
e. Goals and strategies
f. Recent Events Influencing: Comcast recently purchased Dreamworks animation studios, purchase of Marvel Entertainment
4. Accounting Analysis
a. Revenue and recognition policies
b. Major categories of expenses: Research and Development, Sales, General and Administrative, Restructuring, Merger and Acquisition, and other operating expenses
c. Accounts Receivable: 7.456 billion
d. Inventories: contains vacation timeshares, merchandise, materials and supplies
e. Property, Plant and Equipment: Attractions (useful life 25-40 yrs), Buildings and Improvements (useful life 20-40 yrs), Leasehold Improvements (useful life- life of lease), Land Improvements (useful life 20-40 yrs). Depreciation is calculated through the straight-line method.
f. Long Term Debt: 18.92 billion
g. Capital Structure: Financing is 18% debt and 82% equity. The debt is both long and short term. 10% of the debt is floating rate, 5% is foreign currency. The marginal tax rate is 40%. Earnings are stable, making bankruptcy risk
low.
The purpose of this report is to examine the specific details of The Walt Disney Company. It will go in depth about the structure of the company and its finances. The results of this report showed that it is a very expansive and successful company. There are many different areas and sections of this company that need to be in tune in order to guarantee the success of the company, it all must work together. 2. Company Facts
a. The Walt Disney Company
b. 500 South Buena Vista St. Burbank, Californa
c. October 3rd
d. Theme parks, merchandise, movies, t.v. shows
e. Highest price of common stock: $120.07, Lowest price of common stock: $77.01
f. Current price of common stock: $103.77
g. New York Stock Exchange …show more content…
h. DIS
2. SEC Compliance
a. Annual report sections: Business, Risk Factors, Unresolved Staff Comments, Properties, Legal Proceedings, Mine Safety Disclosures, Market for the Company’s Common Equity, Selected Financial Data, Managements Discussion and Analysis of Financial Conditions and Results of Operations, Quantitative and Qualitative Disclosures about Market Risk, Financial Statements and Supplementary Data, Changes in Disagreements with Accountants on Accounting and Financial Disclosure, Controls and Procedures, Directors, Executive Officers and Corporate Governance, Executive Compensation, Security Ownership of Certain Beneficial Owners, Certain Relationships and Related Transactions, Principal Accounting Fees and Services, Exhibits and Financial Statement Schedules
b. Managements responsibility
c. Audit Committee: Robert Matschullat, Aylwin Lewis, John S. Chen, Fred K. Langhammer
d. The committee talked about Pricewatercoopers LLP and its independence, they talked about programs to maintain the strength of the Company’s structure and procedures and finally they encouraged the board to include audited financial statements in the annual report.
e. Interim report: Stock was up about 29% and net income rose 22%
3. Business and Strategy Analysis
a. SIC: 4832, 4841, 7812, 7996, 7011, 4833
b.
Entertainment; movies, theme parks, t.v. shows, etc
c. Competitors: Comcast(Universal theme parks and Dreamworks animation studios), NBC, CBS, Paramount, Seaworld, Lego Land, Merlin Entertainment
d. Future prospects
e. Goals and strategies
f. Recent Events Influencing: Comcast recently purchased Dreamworks animation studios, purchase of Marvel Entertainment
4. Accounting Analysis
a. Revenue and recognition policies
b. Major categories of expenses: Research and Development, Sales, General and Administrative, Restructuring, Merger and Acquisition, and other operating expenses
c. Accounts Receivable: 7.456 billion
d. Inventories: contains vacation timeshares, merchandise, materials and supplies
e. Property, Plant and Equipment: Attractions (useful life 25-40 yrs), Buildings and Improvements (useful life 20-40 yrs), Leasehold Improvements (useful life- life of lease), Land Improvements (useful life 20-40 yrs). Depreciation is calculated through the straight-line method.
f. Long Term Debt: 18.92 billion
g. Capital Structure: Financing is 18% debt and 82% equity. The debt is both long and short term. 10% of the debt is floating rate, 5% is foreign currency. The marginal tax rate is 40%. Earnings are stable, making bankruptcy risk
low.