The Walt Disney Company (DIS) 10-Q 5 Feb 25 2025 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Dec. 28, 2024	Jan. 29, 2025
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 28, 2024
Document Transition Report	false
Entity File Number	001-38842
Entity Registrant Name	WALT DISNEY CO/
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-0940635
Entity Address, Address Line One	500 South Buena Vista Street
Entity Address, City or Town	Burbank
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	91521
City Area Code	818
Local Phone Number	560-1000
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	DIS
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		1,807,788,865
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001744489
Current Fiscal Year End Date	--09-27
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions		3 Months Ended
		Dec. 28, 2024	Dec. 30, 2023
Revenues		$ 24,690	$ 23,549
Selling, general, administrative and other		(3,930)	(3,783)
Depreciation and amortization		(1,276)	(1,243)
Total costs and expenses		(20,612)	(20,613)
Restructuring and impairment charges	[1]	(143)	0
Interest expense, net		(367)	(246)
Equity in the income of investees		92	181
Income before income taxes		3,660	2,871
Income taxes		(1,016)	(720)
Net income		2,644	2,151
Net income attributable to noncontrolling interests		(90)	(240)
Net income attributable to The Walt Disney Company (Disney)		$ 2,554	$ 1,911
Earnings (Loss) Per Share [Abstract]
Diluted		$ 1.40	$ 1.04
Basic		$ 1.41	$ 1.04
Weighted average number of common and common equivalent shares outstanding:
Diluted (shares)		1,818	1,835
Basic (shares)		1,812	1,832
Service
Revenues		$ 22,048	$ 20,975
Cost of Goods and Services Sold		(13,789)	(13,922)
Product
Revenues		2,642	2,574
Cost of Goods and Services Sold		$ (1,617)	$ (1,665)
[1] See Note 4 for a discussion of amounts in restructuring and impairment charges.

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Net income	$ 2,644	$ 2,151
Other Comprehensive Income/(Loss), Net of Tax:
Market value adjustments for hedges	362	(319)
Pension and postretirement medical plan adjustments	25	(21)
Foreign currency translation and other	552	174
Other comprehensive income (loss)	939	(166)
Comprehensive income	3,583	1,985
Net income attributable to noncontrolling interests	(90)	(240)
Other comprehensive income (loss) attributable to noncontrolling interests	72	(44)
Comprehensive income attributable to Disney	$ 3,565	$ 1,701

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 28, 2024	Sep. 28, 2024
Current assets
Cash and Cash Equivalents	$ 5,486	$ 6,002
Receivables, net	13,767	12,729
Inventories	2,018	2,022
Content advances	1,157	2,097
Other current assets	1,239	2,391
Total current assets	23,667	25,241
Produced and licensed content costs	32,505	32,312
Investments	8,902	4,459
Parks Resorts And Other Property, Gross Excluding Projects And Land	78,328	76,674
Accumulated depreciation	(45,898)	(45,506)
Parks, resorts and other property before projects in progress and land, Total	32,430	31,168
Projects in progress	4,581	4,728
Land	1,129	1,145
Parks, resorts and other property	38,140	37,041
Intangible assets, net	10,372	10,739
Goodwill	73,312	73,326
Other assets	10,148	13,101
Total assets	197,046	196,219
Current liabilities
Accounts payable and other accrued liabilities	21,635	21,070
Current portion of borrowings	6,620	6,845
Deferred revenue and other	6,591	6,684
Total current liabilities	34,846	34,599
Borrowings	38,688	38,970
Deferred income taxes	6,336	6,277
Other long-term liabilities	10,437	10,851
Commitments and contingencies
Equity
Preferred stock	0	0
Common stock, $0.01 par value, Authorized – 4.6 billion shares, Issued – 1.9 billion shares	58,868	58,592
Retained earnings	50,468	49,722
Accumulated other comprehensive loss	(2,688)	(3,699)
Treasury stock, at cost, 54 million shares at December 28, 2024 and 47 million shares at September 28, 2024	(4,715)	(3,919)
Total Disney Shareholders' equity	101,933	100,696
Noncontrolling interests	4,806	4,826
Total equity	106,739	105,522
Total liabilities and equity	$ 197,046	$ 196,219

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Millions	Dec. 28, 2024	Sep. 28, 2024
Common stock, par value	$ 0.01	$ 0.01
Common stock, authorized	4,600	4,600
Common stock, issued	1,900	1,900
Common Stock, Outstanding	1,900	1,900
Treasury Stock, Common, Shares	54	47

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Net Income	$ 2,644	$ 2,151
OPERATING ACTIVITIES
Depreciation and amortization	1,276	1,243
Deferred income taxes	25	(51)
Equity in the income of investees	(92)	(181)
Cash distributions received from equity investees	33	153
Net change in produced and licensed content costs and advances	1,141	2,642
Equity-based compensation	317	308
Other, net	206	(64)
Changes in operating assets and liabilities:
Receivables	(1,277)	(1,554)
Inventories	4	8
Other assets	(116)	30
Accounts payable and other liabilities	(1,533)	(1,396)
Income taxes	577	(1,104)
Net Cash Provided by Operating Activities	3,205	2,185
INVESTING ACTIVITIES
Investments in parks, resorts and other property	(2,466)	(1,299)
Other, net	(109)	53
Cash used in investing activities	(2,575)	(1,246)
FINANCING ACTIVITIES
Commercial paper borrowings, net	(169)	1,046
Borrowings	1,057	0
Reduction of borrowings	(951)	(309)
Repurchases of Common Stock	(794)	0
Acquisition of redeemable noncontrolling interests	0	(8,610)
Other, net	(140)	(133)
Cash used in financing activities	(997)	(8,006)
Impact of Exchange Rate on Cash, Cash Equivalents and Restricted Cash	(153)	79
Change in Cash, Cash Equivalents and Restricted Cash	(520)	(6,988)
Cash, Cash Equivalents and Restricted Cash, Beginning of Period	6,102	14,235
Cash, Cash Equivalents and Restricted Cash, End of Period	$ 5,582	$ 7,247

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY - USD ($) shares in Thousands, $ in Millions		Total	Common Stock		Retained Earnings	AOCI Attributable to Parent	Treasury Stock	Disney Shareholders	Non-controlling Interests	[2]	Total excluding redeemable noncontrolling interest
BEGINNING BALANCE (in shares) at Sep. 30, 2023	[1]		1,830,000
Beginning Balance at Sep. 30, 2023			$ 57,383		$ 46,093	$ (3,292)	$ (907)	$ 99,277	$ 4,680		$ 103,957
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)		$ 1,985			1,911	(210)		1,701	129		1,830
Equity compensation activity (in shares)			4,000
Equity compensation activity			$ 250					250			250
Dividends					(549)			(549)			(549)
Distributions and other			$ 7		35			42	(29)		13
ENDING BALANCE (in shares) at Dec. 30, 2023	[1]		1,834,000
Ending Balance at Dec. 30, 2023			$ 57,640		47,490	(3,502)	(907)	100,721	4,780		105,501
BEGINNING BALANCE (in shares) at Sep. 28, 2024		1,900,000	1,812,000	[1]
Beginning Balance at Sep. 28, 2024		$ 105,522	$ 58,592		49,722	(3,699)	(3,919)	100,696	4,826		105,522
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Comprehensive income (loss)		$ 3,583			2,554	1,011		3,565	18		3,583
Equity compensation activity (in shares)			5,000
Equity compensation activity			$ 276					276			276
Dividends					(1,807)			(1,807)			(1,807)
Common stock repurchases, Shares, Acquired		(7,000)	(7,000)
Common stock repurchases		$ (800)					(794)	(794)			(794)
Distributions and other					(1)		(2)	(3)	(38)		(41)
ENDING BALANCE (in shares) at Dec. 28, 2024		1,900,000	1,810,000	[1]
Ending Balance at Dec. 28, 2024		$ 106,739	$ 58,868		$ 50,468	$ (2,688)	$ (4,715)	$ 101,933	$ 4,806		$ 106,739
[1] Shares are net of treasury shares. Excludes redeemable noncontrolling interests.

Principles of Consolidation

Principles of Consolidation	3 Months Ended
	Dec. 28, 2024
Principles of Consolidation	Principles of Consolidation These Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) for interim financial information and the instructions to Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. We believe that we have included all normal recurring adjustments necessary for a fair statement of the results for the interim period. Operating results for the quarter ended December 28, 2024 are not necessarily indicative of the results that may be expected for the year ending September 27, 2025. The terms “Company,” “Disney,” “we,” “us,” and “our” are used in this report to refer collectively to the parent company, The Walt Disney Company, as well as the subsidiaries through which its various businesses are actually conducted. These financial statements should be read in conjunction with the Company’s 2024 Annual Report on Form 10-K. Variable Interest Entities The Company enters into relationships with or makes investments in other entities that may be variable interest entities (VIE). A VIE is consolidated in our financial statements if the Company has the power to direct activities that most significantly impact the economic performance of the VIE and has the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant (as defined by ASC 810-10-25-38) to the VIE. Hong Kong Disneyland Resort and Shanghai Disney Resort (together the Asia Theme Parks, see Note 6) are VIEs in which the Company has less than 50% equity ownership. Company subsidiaries (the Management Companies) have management agreements with the Asia Theme Parks, which provide the Management Companies, subject to certain protective rights of joint venture partners, with the ability to direct the day-to-day operating activities and the development of business strategies that we believe most significantly impact the economic performance of the Asia Theme Parks. In addition, the Management Companies receive management fees under these arrangements that we believe could be significant to the Asia Theme Parks. Therefore, the Company has consolidated the Asia Theme Parks in its financial statements. Redeemable Noncontrolling Interest Hulu LLC The Company has a 67% ownership interest in Hulu LLC (Hulu), a direct-to-consumer (DTC) streaming service provider. In November 2023, NBC Universal (NBCU) exercised its right to require the Company to purchase NBCU’s 33% interest in Hulu at a redemption value based on NBCU’s equity ownership percentage of the greater of Hulu’s equity fair value or a guaranteed floor value of $27.5 billion. In connection with the redemption, the Company will pay NBCU 50% of the future tax benefits from the amortization of the purchase of NBCU’s interest in Hulu as the Company’s cash tax benefits are realized, generally over a 15-year period. In December 2023, the Company paid NBCU $8.6 billion, which reflected the guaranteed floor value less NBCU’s unpaid capital call contributions. If Hulu’s equity fair value is determined pursuant to a contractual appraisal process to be higher than the guaranteed floor value, the Company is required to pay NBCU its share of the difference between the equity fair value and the guaranteed floor value. In May 2024, the Company and NBCU entered into a confidential arbitration to resolve a dispute regarding the contractual appraisal process, in which the parties seek declaratory relief, equitable relief and unspecified damages. The Company expects a decision in that arbitration in fiscal 2025. The outcome of the arbitration is uncertain, and we cannot reasonably estimate the impact of the arbitration on the appraisal process, and thus any impact on the determination of Hulu’s equity fair value and any additional amount we may be required to pay to acquire NBCU’s interest in Hulu. As part of the arbitration the Company disputes the validity of aspects of NBCU’s appraisal and the corresponding process. Consequently, completion of the appraisal process, including the manner of determining any such additional amount payable by the Company, awaits the resolution of the confidential arbitration. During the initial phase of the appraisal process, the Company’s appraiser arrived at a valuation that falls below the guaranteed floor value, while NBCU’s appraiser arrived at a valuation substantially in excess of the guaranteed floor value. Once the arbitration is completed, determination of the final equity fair value will take into account the valuation of a third appraiser pursuant to the appraisal process as resolved by the arbitration. If the third appraiser’s equity fair value determination were equal to or below the guaranteed floor value, the Company would not be required to pay NBCU any additional amount. Conversely, if NBCU’s appraiser’s valuation were deemed to be valid and the third appraiser’s equity fair value determination were consistent with the NBCU’s appraiser’s valuation, the Company would be required to pay NBCU an additional amount of approximately $5 billion as its share of the difference between the equity fair value and the guaranteed floor value. If the third appraiser’s equity fair value determination were between the valuations of the Company’s and NBCU’s appraisers, the incremental amount would likewise be between zero and approximately $5 billion. Any incremental amount determined to be payable to NBCU to acquire NBCU’s interest in Hulu would be recorded as “Net income attributable to noncontrolling interests” and thus reduce “Net income attributable to Disney” in the Condensed Consolidated Statements of Income in the period recorded. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and footnotes thereto. Actual results may differ from those estimates. Reclassifications Certain reclassifications have been made in the fiscal 2024 financial statements and notes to conform to the fiscal 2025 presentation.

Segment Information

Segment Information	3 Months Ended
	Dec. 28, 2024
Segment Information	Segment Information The Company’s operations are reported in three segments: Entertainment, Sports and Experiences, for which separate financial information is evaluated regularly by the Chief Executive Officer to allocate resources and assess performance. Segment operating results reflect earnings before corporate and unallocated shared expenses, restructuring and impairment charges, net other income/expense, net interest expense, income taxes and noncontrolling interests. Segment operating income generally includes equity in the income of investees and excludes amortization of intangible assets and the fair value step-up for film and television costs recognized in connection with the acquisition of TFCF Corporation (TFCF) and Hulu in fiscal 2019 (TFCF and Hulu Acquisition Amortization). Corporate and unallocated shared expenses principally consist of corporate functions, executive management and certain unallocated administrative support functions. Segment operating results include allocations of certain costs, including information technology, pension, legal and other shared services costs, which are allocated based on metrics designed to correlate with consumption. Segment revenues and segment operating income are as follows: Quarter Ended December 28, December 30, Revenues: Entertainment Third parties $ 10,761 $ 9,881 Intersegment 111 100 10,872 9,981 Sports Third parties 4,514 4,536 Intersegment 336 299 4,850 4,835 Experiences 9,415 9,132 Eliminations (447) (399) Total segment revenues $ 24,690 $ 23,549 Segment operating income (loss): Entertainment $ 1,703 $ 874 Sports 247 (103) Experiences 3,110 3,105 Total segment operating income $ 5,060 $ 3,876 Equity in the income of investees is included in segment operating income as follows: Quarter Ended December 28, December 30, Entertainment $ 118 $ 171 Sports 10 13 Equity in the income of investees included in segment operating income 128 184 Equity in the loss of India joint venture (33) — Amortization of TFCF intangible assets related to an equity investee (3) (3) Equity in the income of investees, net $ 92 $ 181 A reconciliation of segment operating income to income before income taxes is as follows: Quarter Ended December 28, December 30, Segment operating income $ 5,060 $ 3,876 Corporate and unallocated shared expenses (460) (308) Equity in the loss of India joint venture (33) — Restructuring and impairment charges (1) (143) — Interest expense, net (367) (246) TFCF and Hulu Acquisition Amortization (2) (397) (451) Income (loss) before income taxes $ 3,660 $ 2,871 (1) See Note 4 for a discussion of amounts in restructuring and impairment charges. (2) TFCF and Hulu Acquisition Amortization is as follows: Quarter Ended December 28, December 30, Amortization of intangible assets $ 327 $ 380 Step-up of film and television costs 67 68 Intangibles related to a TFCF equity investee 3 3 $ 397 $ 451 Goodwill The changes in the carrying amount of goodwill are as follows: Entertainment Sports Experiences Total Balance at September 28, 2024 $ 51,290 $ 16,486 $ 5,550 $ 73,326 Currency translation adjustments and other, net (14) — — (14) Balance at December 28, 2024 $ 51,276 $ 16,486 $ 5,550 $ 73,312

Revenues

Revenues	3 Months Ended
	Dec. 28, 2024
Revenue from Contract with Customer [Abstract]
Revenue from Contract with Customer	Revenues The following table presents revenues by segment and major source: Quarter Ended December 28, 2024 Entertainment Sports Experiences Eliminations Total Subscription fees $ 5,065 $ 427 $ — $ — $ 5,492 Affiliate fees 1,655 2,630 — (321) 3,964 Advertising 1,898 1,342 — — 3,240 Theme park admissions — — 3,087 — 3,087 Resorts and vacations — — 2,221 — 2,221 Retail and wholesale sales of merchandise, food and beverage — — 2,572 — 2,572 Merchandise licensing 165 — 927 — 1,092 TV/VOD and home entertainment distribution 943 78 — — 1,021 Theatrical distribution licensing 642 — — — 642 Other 504 373 608 (126) 1,359 $ 10,872 $ 4,850 $ 9,415 $ (447) $ 24,690 Quarter Ended December 30, 2023 Entertainment Sports Experiences Eliminations Total Subscription fees $ 4,507 $ 415 $ — $ — $ 4,922 Affiliate fees 1,766 2,669 — (293) 4,142 Advertising 1,997 1,351 — — 3,348 Theme park admissions — — 2,982 — 2,982 Resorts and vacations — — 2,118 — 2,118 Retail and wholesale sales of merchandise, food and beverage — — 2,477 — 2,477 Merchandise licensing 192 — 967 — 1,159 TV/VOD and home entertainment distribution 745 57 — — 802 Theatrical distribution licensing 251 — — — 251 Other 523 343 588 (106) 1,348 $ 9,981 $ 4,835 $ 9,132 $ (399) $ 23,549 The following table presents revenues by segment and primary geographical markets: Quarter Ended December 28, 2024 Entertainment Sports Experiences Eliminations Total Americas $ 8,492 $ 4,716 $ 7,121 $ (447) $ 19,882 Europe 1,651 77 1,127 — 2,855 Asia Pacific 729 57 1,167 — 1,953 Total revenues $ 10,872 $ 4,850 $ 9,415 $ (447) $ 24,690 Quarter Ended December 30, 2023 Entertainment Sports Experiences Eliminations Total Americas $ 7,588 $ 4,358 $ 7,037 $ (399) $ 18,584 Europe 1,409 179 1,022 — 2,610 Asia Pacific 984 298 1,073 — 2,355 Total revenues $ 9,981 $ 4,835 $ 9,132 $ (399) $ 23,549 Revenues recognized in the current and prior-year periods from performance obligations satisfied (or partially satisfied) in previous reporting periods primarily relate to revenues earned on TV/VOD licenses for titles made available to the licensee in previous reporting periods. For the quarter ended December 28, 2024, $0.3 billion was recognized related to performance obligations satisfied as of September 28, 2024. For the quarter ended December 30, 2023, $0.3 billion was recognized related to performance obligations satisfied as of September 30, 2023. As of December 28, 2024, revenue for unsatisfied performance obligations expected to be recognized in the future is $15 billion, primarily for IP to be made available in the future under existing agreements with merchandise and co-branding licensees and sponsors, television station affiliates, DTC wholesalers and sports sublicensees. Of this amount, we expect to recognize approximately $5 billion in the remainder of fiscal 2025, $4 billion in fiscal 2026, $3 billion in fiscal 2027 and $3 billion thereafter. These amounts include only fixed consideration or minimum guarantees and do not include amounts related to (i) contracts with an original expected term of one year or less or (ii) licenses of IP that are solely based on the sales of the licensee. When the timing of the Company’s revenue recognition is different from the timing of customer payments, the Company recognizes either a contract asset (customer payment is subsequent to revenue recognition and subject to the Company satisfying additional performance obligations) or deferred revenue (customer payment precedes the Company satisfying the performance obligations). Consideration due under contracts with payment in arrears is recognized as accounts receivable. Deferred revenues are recognized as (or when) the Company performs under the contract. The Company’s contract assets and activity for the current and prior-year periods were not material. Accounts receivable and deferred revenues from contracts with customers are as follows: December 28, September 28, Accounts receivable Current $ 11,783 $ 10,463 Non-current 1,040 1,040 Allowance for credit losses (114) (118) Deferred revenues Current 6,050 5,587 Non-current 884 858 For the quarter ended December 28, 2024, the Company recognized revenue of $3.6 billion that was included in the September 28, 2024 deferred revenue balance. For the quarter ended December 30, 2023, the Company recognized revenue of $3.4 billion that was included in the September 30, 2023 deferred revenue balance. Amounts deferred generally relate to theme park admissions and vacation packages, DTC subscriptions and advances related to merchandise and TV/VOD licenses. We evaluate our allowance for credit losses and estimate collectability of current and non-current accounts receivable based on historical bad debt experience, our assessment of the financial condition of individual companies with which we do business, current market conditions and reasonable and supportable forecasts of future economic conditions. In times of economic turmoil, our estimates and judgments with respect to the collectability of our receivables are subject to greater uncertainty than in more stable periods. The Company has accounts receivable with original maturities greater than one year related to the sale of vacation club properties and film and television program rights (TV/VOD licensing). The balance of vacation club receivables recorded in other non-current assets was $0.7 billion at both December 28, 2024 and September 28, 2024. The balance of TV/VOD licensing receivables recorded in other non-current assets was $0.3 billion at both December 28, 2024 and September 28, 2024. The allowance for credit losses for vacation club and TV/VOD licensing receivables and related activity for the periods ended December 28, 2024 and September 28, 2024 were not material.

Acquisitions and Dispositions

Acquisitions and Dispositions	3 Months Ended
	Dec. 28, 2024
Business Combinations [Abstract]
Business Combinations and Dispositions	Acquisitions and Dispositions fuboTV Inc. On January 6, 2025, the Company and fuboTV Inc. (Fubo), a publicly traded virtual multichannel video distributor (vMVPD), entered into a definitive agreement to combine certain of Hulu Live TV’s assets, including its carriage agreements, subscription agreements and related data, advertising and sponsorship agreements and intellectual property exclusively related to the “Live TV” brand, with Fubo (the Fubo Transaction). As a result, the Company will have a 70% interest in Fubo and the right to appoint a majority of Fubo’s Board of Directors, with the remaining 30% interest retained by Fubo shareholders. The Fubo Transaction is expected to close in the first half of calendar year 2026, subject to customary closing conditions, including regulatory approvals and approval by Fubo shareholders. If closing has not occurred by April 2026 (extended to October 2026 if all other closing conditions, except those relating to regulatory approvals, have been satisfied), the Company or Fubo may terminate the transaction. A $130 million termination fee will be payable by the Company to Fubo if the transaction is terminated under certain circumstances, including due to the Company’s breach of the definitive agreement or the failure to obtain certain regulatory approvals. A $50 million termination fee will be payable by Fubo to the Company if the transaction is terminated under certain other circumstances, including if Fubo shareholders do not approve the transaction under certain conditions. Upon completion of the Fubo Transaction, the Company will be the exclusive distributor of the Hulu Live TV service under a five year distribution agreement and will pay a wholesale fee to Fubo based on Fubo’s cost to program Hulu Live TV. In addition, the Company will sell advertising for the Hulu Live TV service and Fubo platform and pay Fubo a share of the advertising revenue. In addition, the Company, Fox Corporation (Fox) and Warner Bros. Discovery, Inc. (WBD) reached a settlement with Fubo related to Fubo’s antitrust claims (See Note 13 for additional detail) and collectively paid $220 million to Fubo in January 2025. Fox and WBD have also agreed to reimburse a portion of the $130 million termination fee to the Company if it becomes payable. Further, the Company agreed to provide Fubo a senior unsecured term loan of up to $145 million (expected to be funded in January 2026) (the Fubo Term Loan). If the Company funds the Fubo Term Loan and the Fubo Transaction is not consummated, Fox and WBD will participate in a portion of the Fubo Term Loan by providing loans to the Company with substantially the same economic terms as the Fubo Term Loan. Star India On November 14, 2024, the Company and Reliance Industries Limited (RIL) completed their transaction to form a joint venture (India joint venture) that combines the Company’s Star-branded and other general entertainment and sports television channels and direct-to-consumer Disney+ Hotstar service in India (Star India) and certain media and entertainment businesses controlled by RIL (the Star India Transaction). RIL has an effective 56% controlling interest in the joint venture with 37% held by the Company and 7% by Bodhi Tree Systems, a third party investment company. Star India’s assets and liabilities were deconsolidated on November 14, 2024, and the Company recognized the fair value of its interest in the India joint venture as an equity method investment. We recorded non-cash impairment charges of $0.1 billion and $1.5 billion in “Restructuring and impairment charges” in the first quarter of fiscal 2025 and in fiscal 2024, respectively, to reflect Star India’s assets and liabilities at fair value less costs to sell. The measurement of these impairment charges included non-cash cumulative foreign currency translation losses of $0.8 billion net of tax. In addition, we recognized a non-cash tax charge of $0.2 billion in the first quarter of fiscal 2025 in connection with the close of the transaction.

Cash, Cash Equivalents, Restric

Cash, Cash Equivalents, Restricted Cash and Borrowings	3 Months Ended
	Dec. 28, 2024
Disclosure of Cash, Cash Equivalents, Restricted Cash and Borrowings	Cash, Cash Equivalents, Restricted Cash and Borrowings Cash, Cash Equivalents and Restricted Cash The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the Condensed Consolidated Balance Sheets to the total of the amounts reported in the Condensed Consolidated Statements of Cash Flows. December 28, September 28, Cash and cash equivalents $ 5,486 $ 6,002 Restricted cash included in other assets 96 100 Total cash, cash equivalents and restricted cash in the statement of cash flows $ 5,582 $ 6,102 Borrowings During the quarter ended December 28, 2024, the Company’s borrowing activity was as follows: September 28, Borrowings Payments Other December 28, Commercial paper with original maturities less than three months (1) $ 727 $ 1,283 $ — $ 4 $ 2,014 Commercial paper with original maturities greater than three months 2,313 49 (1,501) (19) 842 U.S. dollar denominated borrowings 40,496 1,057 — (70) 41,483 Asia Theme Parks borrowings 1,292 — (26) (107) 1,159 Foreign currency denominated borrowings and other (2) 987 — (925) (252) (190) $ 45,815 $ 2,389 $ (2,452) $ (444) $ 45,308 (1) Borrowings and reductions of borrowings are reported net. (2) The other activity is attributable to market value adjustments for debt with qualifying hedges. At December 28, 2024, the Company’s bank facilities, which are with a syndicate of lenders and support our commercial paper borrowings, were as follows: Committed Capacity Unused Facility expiring February 2025 $ 5,250 $ — $ 5,250 Facility expiring March 2027 4,000 — 4,000 Facility expiring March 2029 3,000 — 3,000 Total $ 12,250 $ — $ 12,250 These facilities allow for borrowings at rates based on the Secured Overnight Financing Rate (SOFR) and at other variable rates for non-U.S. dollar denominated borrowings, plus a fixed spread that varies with the Company’s debt ratings assigned by Moody’s Ratings and S&P Global Ratings ranging from 0.655% to 1.225%. The bank facilities contain only one financial covenant relating to interest coverage of three times earnings before interest, taxes, depreciation and amortization, including both intangible amortization and amortization of our film and television production and programming costs. On December 28, 2024, the Company met this covenant by a significant margin. The bank facilities specifically exclude certain entities, including the Asia Theme Parks, from any representations, covenants or events of default. The Company also has the ability to issue up to $500 million of letters of credit under the facility expiring in March 2027, which if utilized, reduces available borrowings under this facility. As of December 28, 2024, the Company has $0.4 billion of outstanding letters of credit, of which none were issued under this facility. Outstanding letters of credit at Star India totaling $1.3 billion at December 28, 2024 that were entered into prior to the Star India Transaction are guaranteed by the Company through calendar 2025. Cruise Ship Credit Facilities In November 2024, in connection with the delivery of the Disney Treasure , the Company borrowed $1.1 billion with a fixed interest rate of 3.80%. Payments are due semi-annually over a 12-year term. The Company has a credit facility for $1.1 billion that may be utilized to finance a significant portion of the contract price of the Disney Destiny , which is currently scheduled to be delivered in 2026. If utilized, the loan will have a fixed interest rate of 3.74%, payable semi-annually over a 12-year term. Interest expense, net Interest expense (net of amounts capitalized), interest and investment income, and net periodic pension and postretirement benefit costs (other than service costs) (see Note 9) are reported net in the Condensed Consolidated Statements of Income and consist of the following: Quarter Ended December 28, December 30, Interest expense $ (487) $ (528) Interest and investment income 54 182 Net periodic pension and postretirement benefit costs (other than service costs) 66 100 Interest expense, net $ (367) $ (246) Interest and investment income includes gains and losses on certain publicly traded and non-public investments, investment impairments and interest earned on cash and cash equivalents and certain receivables.

International Theme Parks

International Theme Parks	3 Months Ended
	Dec. 28, 2024
Equity Method Investments and Joint Ventures [Abstract]
International Theme Parks	International Theme Parks The Company has a 48% ownership interest in the operations of Hong Kong Disneyland Resort and a 43% ownership interest in the operations of Shanghai Disney Resort. The Asia Theme Parks together with Disneyland Paris are collectively referred to as the International Theme Parks. The following table summarizes the carrying amounts of the Asia Theme Parks’ assets and liabilities included in the Company’s Condensed Consolidated Balance Sheets: December 28, September 28, Cash and cash equivalents $ 438 $ 510 Other current assets 199 178 Total current assets 637 688 Parks, resorts and other property 5,943 6,141 Other assets 265 217 Total assets $ 6,845 $ 7,046 Current liabilities $ 700 $ 695 Long-term borrowings 1,159 1,292 Other long-term liabilities 453 409 Total liabilities $ 2,312 $ 2,396 The following table summarizes the International Theme Parks’ revenues and costs and expenses included in the Company’s Condensed Consolidated Statements of Income for the quarter ended December 28, 2024: Revenues $ 1,531 Costs and expenses (1,199) Asia Theme Parks’ royalty and management fees of $69 million for the quarter ended December 28, 2024 are eliminated in consolidation, but are considered in calculating earnings attributable to noncontrolling interests. International Theme Parks’ cash flows included in the Company’s Condensed Consolidated Statements of Cash Flows for the quarter ended December 28, 2024 were $511 million provided by operating activities, $288 million used in investing activities and $24 million used in financing activities. Hong Kong Disneyland Resort The Government of the Hong Kong Special Administrative Region (HKSAR) and the Company have a 52% and a 48% equity interest in Hong Kong Disneyland Resort, respectively. The Company and HKSAR have provided loans to Hong Kong Disneyland Resort with outstanding balances of $64 million and $43 million, respectively. The interest rate on both loans is three month HIBOR (Hong Kong Interbank Offered Rate) plus 2 The Company has provided Hong Kong Disneyland Resort with a revolving credit facility of HK $2.7 billion ($348 million), which bears interest at a rate of three month HIBOR plus 1.25 Shanghai Disney Resort Shanghai Shendi (Group) Co., Ltd (Shendi) and the Company have 57% and 43% equity interests in Shanghai Disney Resort, respectively. A management company, in which the Company has a 70% interest and Shendi a 30% interest, operates Shanghai Disney Resort. The Company has provided Shanghai Disney Resort with loans totaling $929 million bearing interest at 8% and are scheduled to mature in 2036 with earlier payments required based on available cash flows. In addition, early repayment is permitted. The loan is eliminated in consolidation. The Company has also provided Shanghai Disney Resort with a 1.9 billion yuan (approximately $0.3 billion) line of credit bearing interest at 8% and matures in 2033. The line of credit does not have a balance outstanding. Shendi has provided Shanghai Disney Resort with loans totaling 8.2 billion yuan (approximately $1.1 billion), bearing interest at 8% and are scheduled to mature in 2036 with earlier payments required based on available cash flows. In addition, early repayment is permitted. Shendi has also provided Shanghai Disney Resort with a 2.6 billion yuan (approximately $0.4 billion) line of credit bearing interest at 8% and matures in 2033. The line of credit does not have a balance outstanding.

Produced and Acquired_Licensed

Produced and Acquired/Licensed Content Costs and Advances	3 Months Ended
	Dec. 28, 2024
Other Industries [Abstract]
Produced and Acquired/Licensed Content Costs and Advances Disclosure	Produced and Acquired/Licensed Content Costs and Advances The Company classifies its capitalized produced and acquired/licensed content costs as long-term assets and classifies advances for live programming rights made prior to the live event as short-term assets. For purposes of amortization and impairment, the capitalized content costs are classified based on their predominant monetization strategy as follows: • Individual - lifetime value is predominantly derived from third-party revenues that are directly attributable to the specific film or television title (e.g. theatrical revenues or sales to third-party television programmers) • Group - lifetime value is predominantly derived from third-party revenues that are attributable only to a bundle of titles (e.g. subscription revenue for a DTC service or affiliate fees for a cable television network) Total capitalized produced and licensed content by predominant monetization strategy is as follows: As of December 28, 2024 As of September 28, 2024 Predominantly Predominantly Total Predominantly Predominantly Total Produced content Released, less amortization $ 4,845 $ 13,950 $ 18,795 $ 4,568 $ 13,621 $ 18,189 Completed, not released 89 2,117 2,206 16 2,265 2,281 In-process 4,384 3,653 8,037 4,352 4,067 8,419 In development or pre-production 282 92 374 196 73 269 $ 9,600 $ 19,812 29,412 $ 9,132 $ 20,026 29,158 Licensed content - Television programming rights and advances 4,250 5,251 Total produced and licensed content $ 33,662 $ 34,409 Current portion $ 1,157 $ 2,097 Non-current portion $ 32,505 $ 32,312 Amortization of produced and licensed content is as follows: Quarter Ended December 28, December 30, Produced content Predominantly monetized individually $ 696 $ 768 Predominantly monetized as a group 1,813 1,794 2,509 2,562 Licensed programming rights and advances 4,097 4,590 Total produced and licensed content costs (1) $ 6,606 $ 7,152 (1) Primarily included in “Costs of services” in the Condensed Consolidated Statements of Income

Income Taxes

Income Taxes	3 Months Ended
	Dec. 28, 2024
Income Tax Disclosure [Abstract]
Income Tax Disclosure	Income Taxes Deferred Tax Assets and Liabilities The Company records deferred income tax assets and liabilities with respect to temporary differences in accounting treatment of items for financial reporting purposes and income tax purposes. The Company’s deferred tax assets and liabilities by major category as of December 28, 2024 and September 28, 2024 were as follows: December 28, September 28, Deferred tax assets Net operating losses and tax credit carryforwards (1) $ (3,176) $ (3,444) Accrued liabilities (1,173) (1,199) Lease liabilities (845) (862) Licensing revenues (119) (130) Other (489) (655) Total deferred tax assets (5,802) (6,290) Deferred tax liabilities Depreciable, amortizable and other property 6,128 6,584 Investment in U.S. entities (2) 1,068 1,102 Right-of-use lease assets 677 692 Investment in foreign entities 727 465 Other 66 78 Total deferred tax liabilities 8,666 8,921 Net deferred tax liability before valuation allowance 2,864 2,631 Valuation allowance 2,898 2,991 Net deferred tax liability $ 5,762 $ 5,622 (1) Further details on our net operating losses and tax credit carryforwards are as follows: December 28, 2024 International Theme Park net operating losses $ (1,424) U.S. foreign tax credits (810) State net operating losses and tax credit carryforwards (563) Other (379) Total net operating losses and tax credit carryforwards (a) $ (3,176) (a) Approximately $2.0 billion of these carryforwards do not expire. Approximately $1.1 billion expire between fiscal 2026 and fiscal 2035, primarily consisting of U.S. foreign tax credits. (2) Amounts are, in part, due to the tax status of these entities and if the tax status of certain legal entities changes, a significant portion of this balance may reverse. Valuation Allowance The Company records deferred income tax assets and liabilities with respect to temporary differences in the accounting treatment of items for financial reporting purposes and for income tax purposes. Where, based on the weight of available evidence, it is more likely than not that some amount of recorded deferred tax assets will not be realized, a valuation allowance is established for the amount that, in management’s judgment, is sufficient to reduce the deferred tax asset to an amount that is more likely than not to be realized. Unrecognized Tax Benefits The Company’s gross unrecognized tax benefits (before interest and penalties) decreased $0.2 billion, from $2.0 billion at September 28, 2024 to $1.8 billion at December 28, 2024. In the next twelve months, it is reasonably possible that our unrecognized tax benefits could change due to resolutions of open tax matters, which would reduce our unrecognized tax benefits by $0.8 billion.

Pension and Other Benefit Progr

Pension and Other Benefit Programs	3 Months Ended
	Dec. 28, 2024
Retirement Benefits [Abstract]
Pension and Other Benefit Programs	Pension and Other Benefit Programs The components of net periodic benefit cost (income) are as follows: Pension Plans Postretirement Medical Plans Quarter Ended Quarter Ended December 28, December 30, December 28, December 30, Service costs $ 65 $ 62 $ — $ — Other costs (benefits): Interest costs 195 208 11 14 Expected return on plan assets (290) (284) (15) (14) Amortization of previously deferred service costs (credits) — 2 (22) (22) Recognized net actuarial loss (gain) 62 5 (7) (9) Total other costs (benefits) (33) (69) (33) (31) Net periodic benefit cost (income) $ 32 $ (7) $ (33) $ (31) During the quarter ended December 28, 2024, the Company did not make any material contributions to its pension and postretirement medical plans and does not currently expect to make any material contributions for the remainder of fiscal 2025. Final minimum funding requirements for fiscal 2025 will be determined based on a January 1, 2025 funding actuarial valuation, which is expected to be received in the fourth quarter of fiscal 2025.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Dec. 28, 2024
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Diluted earnings per share amounts are based upon the weighted average number of common and common equivalent shares outstanding during the period and are calculated using the treasury stock method for equity-based compensation awards (Awards). A reconciliation of the weighted average number of common and common equivalent shares outstanding and the number of Awards excluded from the diluted earnings per share calculation, as they were anti-dilutive, are as follows: Quarter Ended December 28, December 30, Shares (in millions): Weighted average number of common and common equivalent shares outstanding (basic) 1,812 1,832 Weighted average dilutive impact of Awards 6 3 Weighted average number of common and common equivalent shares outstanding (diluted) 1,818 1,835 Awards excluded from diluted earnings per share 16 39

Equity

Equity	3 Months Ended
	Dec. 28, 2024
Equity [Abstract]
Equity	Equity The Company declared the following dividends in fiscal 2025 and 2024: Per Share Amount Payment Date $0.50 $0.9 billion July 23, 2025 (1) $0.50 $0.9 billion January 16, 2025 $0.45 $0.8 billion July 25, 2024 $0.30 $0.5 billion January 10, 2024 (1) Amount represents our estimate of the dividend that will be paid on July 23, 2025. The actual amount will be determined based on shareholders of record at June 24, 2025. Share Repurchase Program Effective February 7, 2024, the Board of Directors authorized the Company to repurchase a total of 400 million shares of its common stock. During the quarter ended December 28, 2024, the Company repurchased 7 million shares of its common stock for $0.8 billion (amount excludes the one percent excise tax on stock repurchases imposed by the Inflation Reduction Act of 2022). As of December 28, 2024, the Company had remaining authorization in place to repurchase approximately 365 million additional shares. The repurchase program does not have an expiration date. The following tables summarize the changes in each component of accumulated other comprehensive income (loss) (AOCI) including our proportional share of equity method investee amounts: Market Value Unrecognized Foreign AOCI AOCI, before tax First quarter of fiscal 2025 Balance at September 28, 2024 $ (319) $ (2,243) $ (1,855) $ (4,417) Quarter Ended December 28, 2024: Unrealized gains (losses) arising during the period 559 — (246) 313 Reclassifications of realized net (gains) losses to net income (88) 33 — (55) Star India Transaction — — 904 904 Balance at December 28, 2024 $ 152 $ (2,210) $ (1,197) $ (3,255) First quarter of fiscal 2024 Balance at September 30, 2023 $ 259 $ (2,172) $ (1,974) $ (3,887) Quarter Ended December 30, 2023: Unrealized gains (losses) arising during the period (277) (3) 137 (143) Reclassifications of realized net (gains) losses to net income (140) (24) — (164) Balance at December 30, 2023 $ (158) $ (2,199) $ (1,837) $ (4,194) Market Value Unrecognized Foreign AOCI Tax on AOCI First quarter of fiscal 2025 Balance at September 28, 2024 $ 71 $ 531 $ 116 $ 718 Quarter Ended December 28, 2024: Unrealized gains (losses) arising during the period (130) — 24 (106) Reclassifications of realized net (gains) losses to net income 21 (8) — 13 Star India Transaction — — (58) (58) Balance at December 28, 2024 $ (38) $ 523 $ 82 $ 567 First quarter of fiscal 2024 Balance at September 30, 2023 $ (64) $ 517 $ 142 $ 595 Quarter Ended December 30, 2023: Unrealized gains (losses) arising during the period 66 — (7) 59 Reclassifications of realized net (gains) losses to net income 32 6 — 38 Balance at December 30, 2023 $ 34 $ 523 $ 135 $ 692 Market Value Unrecognized Foreign AOCI AOCI, after tax First quarter of fiscal 2025 Balance at September 28, 2024 $ (248) $ (1,712) $ (1,739) $ (3,699) Quarter Ended December 28, 2024: Unrealized gains (losses) arising during the period 429 — (222) 207 Reclassifications of realized net (gains) losses to net income (67) 25 — (42) Star India Transaction — — 846 846 Balance at December 28, 2024 $ 114 $ (1,687) $ (1,115) $ (2,688) First quarter of fiscal 2024 Balance at September 30, 2023 $ 195 $ (1,655) $ (1,832) $ (3,292) Quarter Ended December 30, 2023: Unrealized gains (losses) arising during the period (211) (3) 130 (84) Reclassifications of realized net (gains) losses to net income (108) (18) — (126) Balance at December 30, 2023 $ (124) $ (1,676) $ (1,702) $ (3,502) Details about AOCI components reclassified to net income are as follows: Gain (loss) in net income: Affected line item in the Condensed Consolidated Statements of Operations: Quarter Ended December 28, December 30, Market value adjustments, primarily cash flow hedges Primarily revenue $ 88 $ 140 Estimated tax Income taxes (21) (32) 67 108 Pension and postretirement medical expense Interest expense, net (33) 24 Estimated tax Income taxes 8 (6) (25) 18 Total reclassifications for the period $ 42 $ 126

Equity-Based Compensation

Equity-Based Compensation	3 Months Ended
	Dec. 28, 2024
Share-Based Payment Arrangement [Abstract]
Equity-Based Compensation	Equity-Based Compensation Compensation expense related to stock options and restricted stock units (RSUs) is as follows: Quarter Ended December 28, December 30, Stock options $ 16 $ 17 RSUs 301 291 Total equity-based compensation expense (1) $ 317 $ 308 Equity-based compensation expense capitalized during the period $ 44 $ 44 (1) Equity-based compensation expense is net of capitalized equity-based compensation and estimated forfeitures and excludes amortization of previously capitalized equity-based compensation costs. Unrecognized compensation cost related to unvested stock options and RSUs was $66 million and $1.5 billion, respectively, as of December 28, 2024. Each fiscal year, generally in December or January, the Company awards stock options and restricted stock units to a broad-based group of management, technology and creative personnel (Annual Grant). Substantially all of the Annual Grant was issued in January 2025. The Annual Grant consisted of 2.4 million stock options and 14.2 million RSUs with weighted average grant date fair values of $37.98 and $109.20, respectively. During the quarter ended December 30, 2023, the weighted average grant date fair values for stock options and RSUs were $32.06 and $93.87, respectively.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Dec. 28, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Matters On May 12, 2023, a private securities class action lawsuit was filed in the U.S. District Court for the Central District of California against the Company, its former Chief Executive Officer, Robert Chapek, its former Chief Financial Officer, Christine M. McCarthy, and the former Chairman of the Disney Media and Entertainment Distribution segment, Kareem Daniel on behalf of certain purchasers of securities of the Company (the “Securities Class Action”). On November 6, 2023, a consolidated complaint was filed in the same action, adding Robert Iger, the Company’s Chief Executive Officer, as a defendant. Claims in the Securities Class Action include (i) violations of Section 10(b) of the Exchange Act and Rule 10b-5 promulgated thereunder against all defendants, (ii) violations of Section 20A of the Exchange Act against Iger and McCarthy, and (iii) violations of Section 20(a) of the Exchange Act against all defendants. Plaintiffs in the Securities Class Action allege purported misstatements and omissions concerning, and a scheme to conceal, accurate costs and subscriber growth of the Disney+ platform. Plaintiffs seek unspecified damages, plus interest and costs and fees. The Company intends to defend against the lawsuit vigorously and filed a motion to dismiss the complaint for failure to state a claim on December 21, 2023. A hearing on the motion to dismiss was held on September 27, 2024. The lawsuit is in the early stages and at this time we cannot reasonably estimate the amount of any possible loss. Three shareholder derivative complaints have been filed. The first, in which Hugues Gervat is the plaintiff, was filed on August 4, 2023, in the U.S. District Court for the Central District of California. The second, in which Stourbridge Investments LLC is the plaintiff, was filed on August 23, 2023 in the U.S. District Court for the District of Delaware. And the third, in which Audrey McAdams is the Plaintiff, was filed on December 15, 2023, in the U.S. District Court for the Central District of California. Each named The Walt Disney Company as a nominal defendant and alleged claims on its behalf against the Company’s Chief Executive Officer, Robert Iger; its former Chief Executive Officer, Robert Chapek; its former Chief Financial Officer, Christine M. McCarthy; the former Chairman of the Disney Media and Entertainment Distribution segment, Kareem Daniel, and ten current and former members of the Disney Board (Susan E. Arnold; Mary T. Barra; Safra A. Catz; Amy L. Chang; Francis A. deSouza; Michael B.G. Froman; Maria Elena Lagomasino; Calvin R. McDonald; Mark G. Parker; and Derica W. Rice). Along with alleged violations of Sections 10(b), 14(a), 20(a), and Rule 10b-5 of the Securities Exchange Act, premised on similar allegations as the Securities Class Action, plaintiffs seek to recover under various theories including breach of fiduciary duty, unjust enrichment, abuse of control, gross mismanagement and waste. On October 24, 2023, the Stourbridge action was voluntarily dismissed and, on November 16, 2023, was refiled in Delaware state court alleging analogous theories of liability based on state law. On October 30, 2023, the Gervat action was stayed pending a ruling on the motion to dismiss filed in the Securities Class Action. The Stourbridge action was likewise stayed under an order entered December 12, 2023 and the McAdams action was stayed under an order entered February 20, 2024. The actions seek declarative and injunctive relief, an award of unspecified damages to The Walt Disney Company and other costs and fees. The Company intends to defend against these lawsuits vigorously. The lawsuits are in the early stages, and at this time we cannot reasonably estimate the amount of any possible loss. On November 18, 2022, a private antitrust putative class action lawsuit was filed in the U.S. District Court for the Northern District of California against the Company on behalf of a putative class of certain subscribers to YouTube TV (the “Biddle Action”). The plaintiffs in the Biddle Action asserted a claim under Section 1 of the Sherman Act based on allegations that Disney uses certain pricing and packaging provisions in its carriage agreements with vMVPDs to increase prices for and reduce output of certain services offered by vMVPDs. On November 30, 2022, a second private antitrust putative class action lawsuit was filed in the U.S. District Court for the Northern District of California against the Company on behalf of a putative class of certain subscribers to DirecTV Stream (the “Fendelander Action”), making similar allegations. The Company filed motions to dismiss for failure to state a claim in both the Biddle Action and Fendelander Action on January 31, 2023. On September 30, 2023, the court issued an order granting in part and denying in part the Company’s motions to dismiss both cases and, on October 13, 2023, the court issued an order consolidating both cases. On October 16, 2023, plaintiffs filed a consolidated amended putative class action complaint (the “Consolidated Complaint”). The Consolidated Complaint asserts claims under Section 1 of the Sherman Act and certain Arizona, California, Florida, Illinois, Iowa, Massachusetts, Michigan, Nevada, New York, North Carolina, and Tennessee antitrust laws based on substantially similar allegations as the Biddle Action and the Fendelander Action. The Consolidated Complaint seeks injunctive relief, unspecified money damages and costs and fees. The Company intends to defend against the lawsuits vigorously and filed a motion to dismiss the Consolidated Complaint for failure to state a claim on December 1, 2023. The Company’s motion to dismiss the Consolidated Complaint was granted in part and denied in part on June 25, 2024. On September 12, 2024, the Court entered a case management order setting, among other dates, Plaintiffs’ deadline to file their class certification motion on March 27, 2026. On January 14, 2025, a private antitrust putative class action lawsuit was filed in the U.S. District Court for the Southern District of New York against the Company on behalf of a putative class of certain subscribers to fuboTV (the “Unger Action”), making similar allegations to those in the now-consolidated Biddle and Fendelander Actions. The consolidated lawsuit and the Unger Action are in the early stages, and at this time we cannot reasonably estimate the amount of any possible loss. On February 20, 2024, a private antitrust lawsuit was filed in the U.S. District Court for the Southern District of New York against the Company (including affiliates ESPN, Inc., ESPN Enterprises, Inc., and Hulu, LLC), Fox, and WBD (collectively, “Defendants”), by fuboTV Inc. and fuboTV Media Inc. (together, “Fubo”). Fubo asserted claims under Section 1 of the Sherman Act, Section 7 of the Clayton Act, and New York antitrust law based on the theories that (a) a then planned joint venture between ESPN, Inc., Fox, and WBD, which would have distributed certain of Defendants’ linear networks to consumers (the “Sports Streaming JV”), would have harmed competition in alleged markets for the licensing of networks that offer live sports content and for streaming live pay television, (b) certain alleged practices by which the Company and Fox license their networks to vMVPDs as a bundle increase prices and reduce output for services offered by vMVPDs, and (c) certain alleged pricing provisions in Defendants’ carriage agreements with YouTube TV and Hulu + Live TV, as well as in Hulu + Live TV’s carriage agreements with non-Defendant programmers, increase prices for services offered by vMVPDs. On April 8, 2024, Fubo filed a motion for a preliminary injunction against Defendants to prevent the formation of the Sports Streaming JV. On April 29, 2024, Fubo filed an amended complaint to add allegations of a purported market for “skinny sports bundles”, which Fubo claimed the Sports Streaming JV would have monopolized after its launch. After a hearing on Fubo’s motion for preliminary injunction, the district court granted Fubo’s motion on August 16, 2024, and enjoined the launch of the Sports Streaming JV. On August 19, 2024, Defendants filed a notice of appeal to the United States Court of Appeals for the Second Circuit from the order for a preliminary injunction. The United States Court of Appeals for the Second Circuit granted Defendants’ motion to expedite the appeal. Defendants filed their initial appeal brief on September 20, 2024, Fubo filed its brief in opposition on November 4, 2024, and Defendants filed their reply brief on December 9, 2024. Oral argument was scheduled for January 6, 2025. Fubo further sought injunctive relief, unspecified money damages and costs and fees. On September 26, 2024, the Company filed a motion to dismiss Fubo’s claims brought under Section 1 of the Sherman Act and New York antitrust law, unrelated to the joint venture. The district court denied Defendants’ motions to dismiss on December 13, 2024. The Defendants reached a settlement with Fubo to resolve this litigation, and on January 6, 2025, filed with the district court a joint stipulation voluntarily dismissing the action with prejudice and extinguishing the preliminary injunction issued on August 16, 2024. The parties also filed on January 6, 2025 a joint stipulation dismissing the appeal, which the United States Court of Appeals for the Second Circuit so ordered on January 8, 2025. In May 2024, the Company and NBCU entered into a confidential arbitration to resolve a dispute regarding the contractual appraisal process related to the determination of Hulu’s equity fair value, in which the parties seek declaratory relief, equitable relief and unspecified damages. See Note 1 for a more detailed discussion of the arbitration and the determination of Hulu’s equity fair value. The Company, together with, in some instances, certain of its directors and officers, is a defendant in various other legal actions involving copyright, breach of contract and various other claims incident to the conduct of its businesses. Management does not believe that the Company has incurred a probable material loss by reason of any of those actions.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Dec. 28, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is defined as the amount that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants and is generally classified in one of the following categories: Level 1 - Quoted prices for identical instruments in active markets Level 2 - Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations, in which all significant inputs and significant value drivers are observable in active markets Level 3 - Valuations derived from valuation techniques, in which one or more significant inputs or significant value drivers are unobservable The Company’s assets and liabilities measured at fair value are summarized in the following tables by fair value measurement Level: Fair Value Measurement at December 28, 2024 Level 1 Level 2 Level 3 Total Assets Investments $ — $ 100 $ — $ 100 Derivatives - Foreign exchange — 1,127 — 1,127 Liabilities Derivatives Interest rate — (1,239) — (1,239) Foreign exchange — (527) — (527) Other — (17) — (17) Other — (634) — (634) Total recorded at fair value $ — $ (1,190) $ — $ (1,190) Fair value of borrowings $ — $ 39,433 $ 2,201 $ 41,634 Fair Value Measurement at September 28, 2024 Level 1 Level 2 Level 3 Total Assets Investments $ — $ 94 $ — $ 94 Derivatives Foreign exchange — 569 — 569 Other — 18 — 18 Liabilities Derivatives Interest rate — (983) — (983) Foreign exchange — (588) — (588) Other — (8) — (8) Other — (591) — (591) Total recorded at fair value $ — $ (1,489) $ — $ (1,489) Fair value of borrowings $ — $ 42,392 $ 1,317 $ 43,709 The fair values of Level 2 investments are primarily determined based on an internal valuation model that uses observable inputs such as stock trading price, volatility and risk free rate. The fair values of Level 2 derivatives are primarily determined by internal discounted cash flow models that use observable inputs such as interest rates, yield curves and foreign currency exchange rates. Counterparty credit risk, which is mitigated by master netting agreements and collateral posting arrangements with certain counterparties, had an impact on derivative fair value estimates that was not material. The Company’s derivative financial instruments are discussed in Note 15. Level 2 other liabilities are primarily arrangements that are valued based on the fair value of underlying investments, which are generally measured using Level 1 and Level 2 fair value techniques. Level 2 borrowings, which include commercial paper, U.S. dollar denominated notes and certain foreign currency denominated borrowings, are valued based on quoted prices for similar instruments in active markets or identical instruments in markets that are not active. Level 3 borrowings include the Asia Theme Park and cruise ship borrowings, which are valued based on the current estimated borrowing costs, prevailing market interest rates and applicable credit risk. The Company’s financial instruments also include cash, cash equivalents, receivables and accounts payable. The carrying values of these financial instruments approximate the fair values.

Derivative Instruments

Derivative Instruments	3 Months Ended
	Dec. 28, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments The Company manages its exposure to various risks relating to its ongoing business operations according to a risk management policy. The primary risks managed with derivative instruments are interest rate risk and foreign exchange risk. The Company’s derivative positions measured at fair value (see Note 14) are summarized in the following tables: As of December 28, 2024 Current Investments/ Other Current Other Long- Derivatives designated as hedges Foreign exchange $ 586 $ 323 $ (176) $ (139) Interest rate — — (1,239) — Other — — (5) — Derivatives not designated as hedges Foreign exchange 216 2 (210) (2) Other — 100 (12) — Gross fair value of derivatives 802 425 (1,642) (141) Counterparty netting (618) (239) 722 135 Cash collateral (received) paid (74) — 675 — Net derivative positions $ 110 $ 186 $ (245) $ (6) As of September 28, 2024 Current Investments/ Other Current Other Long- Derivatives designated as hedges Foreign exchange $ 273 $ 184 $ (164) $ (149) Interest rate — — (983) — Other — — (7) (1) Derivatives not designated as hedges Foreign exchange 110 2 (273) (2) Other 18 94 — — Gross fair value of derivatives 401 280 (1,427) (152) Counterparty netting (330) (182) 396 116 Cash collateral (received) paid (27) — 679 — Net derivative positions $ 44 $ 98 $ (352) $ (36) Interest Rate Risk Management The Company is exposed to the impact of interest rate changes primarily through its borrowing activities. The Company’s objective is to mitigate the impact of interest rate changes on earnings and cash flows and on the market value of its borrowings. In accordance with its policy, the Company targets its fixed-rate debt as a percentage of its net debt between a minimum and maximum percentage. The Company primarily uses pay-floating and pay-fixed interest rate swaps to facilitate its interest rate risk management activities. The Company designates pay-floating interest rate swaps as fair value hedges of fixed-rate borrowings effectively converting fixed-rate borrowings to variable-rate borrowings. The total notional amount of the Company’s pay-floating interest rate swaps at both December 28, 2024 and September 28, 2024 was $11.0 billion and $12.0 billion, respectively. The following table summarizes fair value hedge adjustments to hedged borrowings: Carrying Amount of Hedged Borrowings Fair Value Adjustments Included December 28, September 28, December 28, September 28, Borrowings: Current $ 495 $ 1,414 $ (5) $ (10) Long-term 9,874 10,128 (1,109) (913) $ 10,369 $ 11,542 $ (1,114) $ (923) The following amounts are included in “Interest expense, net” in the Condensed Consolidated Statements of Income: Quarter Ended December 28, December 30, Gain (loss) on: Pay-floating swaps $ (195) $ 432 Borrowings hedged with pay-floating swaps 195 (432) Expense associated with interest accruals on pay-floating swaps (111) (154) The Company may designate pay-fixed interest rate swaps as cash flow hedges of interest payments on floating-rate borrowings. Pay-fixed interest rate swaps effectively convert floating-rate borrowings to fixed-rate borrowings. The unrealized gains or losses from these cash flow hedges are deferred in AOCI and recognized in interest expense as the interest payments occur. The Company did not have pay-fixed interest rate swaps that were designated as cash flow hedges of interest payments at December 28, 2024 or at September 28, 2024, and gains and losses related to pay-fixed interest rate swaps recognized in earnings were not material for the quarters ended December 28, 2024 and December 30, 2023. Foreign Exchange Risk Management The Company transacts business globally and is subject to risks associated with foreign currency exchange rates. The Company’s objective is to reduce earnings and cash flow fluctuations associated with changes in foreign currency exchange rates, enabling management to focus on core business operations. The Company enters into option and forward contracts to protect the value of its existing foreign currency assets, liabilities, firm commitments and forecasted but not firmly committed foreign currency transactions. In accordance with policy, the Company hedges its forecasted foreign currency transactions for periods generally not to exceed four years within an established minimum and maximum range of annual exposure. The gains and losses on these contracts offset changes in the U.S. dollar equivalent value of the related forecasted transaction, asset, liability or firm commitment. The principal currencies hedged are the euro, Canadian dollar, Japanese yen, British pound and Chinese yuan. Cross-currency swaps are used to effectively convert foreign currency denominated borrowings into U.S. dollar denominated borrowings. The Company designates foreign exchange forward and option contracts as cash flow hedges of firmly committed and forecasted foreign currency transactions. As of December 28, 2024 and September 28, 2024, the notional amounts of the Company’s net foreign exchange cash flow hedges were $8.4 billion and $9.9 billion, respectively. Mark-to-market gains and losses on these contracts are deferred in AOCI and are recognized in earnings when the hedged transactions occur, offsetting changes in the value of the foreign currency transactions. Net deferred gains recorded in AOCI for contracts that will mature in the next twelve months total $501 million. The following table summarizes the effect of foreign exchange cash flow hedges on AOCI: Quarter Ended December 28, December 30, Gain (loss) recognized in Other Comprehensive Income $ 562 $ (264) Gain reclassified from AOCI into the Statements of Operations (1) 89 141 (1) Primarily recorded in revenue. The Company may designate cross currency swaps as fair value hedges of foreign currency denominated borrowings. The impact from the change in foreign currency on both the cross currency swap and borrowing is recorded to “Interest expense, net.” The impact from interest rate changes is recorded in AOCI and is amortized over the life of the cross currency swap. As of December 28, 2024 and September 28, 2024, the total notional amount of the Company’s designated cross currency swaps was Canadian $1.3 billion ($0.9 billion) and Canadian $1.3 billion ($1.0 billion), respectively. The related gains or losses recognized in earnings for the quarters ended December 28, 2024 and December 30, 2023 were not material. Foreign exchange risk management contracts with respect to foreign currency denominated assets and liabilities are not designated as hedges and do not qualify for hedge accounting. The net notional amount of these foreign exchange contracts at December 28, 2024 and September 28, 2024 were $2.9 billion and $3.4 billion, respectively. The Company recognized net foreign exchange gains of $0.2 billion on the foreign exchange contracts in costs and expenses for the quarter ended December 28, 2024 that mitigated our exposure with respect to foreign currency denominated assets and liabilities. The related gains or losses for the quarter ended December 30, 2023 were not material. Commodity Price Risk Management The Company is subject to the volatility of commodities prices and the Company designates certain commodity forward contracts as cash flow hedges of forecasted commodity purchases. Mark-to-market gains and losses on these contracts are deferred in AOCI and are recognized in earnings when the hedged transactions occur, offsetting changes in the value of commodity purchases. The notional amount of these commodities contracts at December 28, 2024 and September 28, 2024 and related gains or losses recognized in earnings for the quarters ended December 28, 2024 and December 30, 2023 were not material. Risk Management – Other Derivatives Not Designated as Hedges The Company enters into certain other risk management contracts that are not designated as hedges and do not qualify for hedge accounting. These contracts, which include certain total return swap contracts, are intended to offset economic exposures of the Company and are carried at market value with any changes in value recorded in earnings. The notional amounts of these contracts at December 28, 2024 and September 28, 2024 were $0.6 billion and $0.5 billion, respectively. The related gains or losses recognized in earnings for the quarters ended December 28, 2024 and December 30, 2023 were not material. Contingent Features and Cash Collateral The Company has master netting arrangements by counterparty with respect to certain derivative financial instrument contracts. The Company may be required to post collateral in the event that a net liability position with a counterparty exceeds limits defined by contract and that vary with the Company’s credit rating. In addition, these contracts may require a counterparty to post collateral to the Company in the event that a net receivable position with a counterparty exceeds limits defined by contract and that vary with the counterparty’s credit rating. If the Company’s or the counterparty’s credit ratings were to fall below investment grade, such counterparties or the Company would also have the right to terminate our derivative contracts, which could lead to a net payment to or from the Company for the aggregate net value by counterparty of our derivative contracts. The aggregate fair values of derivative instruments with credit-risk-related contingent features in a net liability position by counterparty were $0.9 billion and $1.1 billion at December 28, 2024 and September 28, 2024.

New Accounting Pronouncements

New Accounting Pronouncements	3 Months Ended
	Dec. 28, 2024
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements and Other Disclosure Rules Improvements to Reportable Segments Disclosures In November 2023, the FASB issued guidance to enhance reportable segment disclosures by requiring the disclosure of significant expenses that are regularly provided to the chief operating decision maker (CODM) and included in the segment’s measure of profit or loss. It also requires an explanation of how the CODM uses the segment’s measure of profit or loss to assess segment performance and allocate resources. The guidance is effective for the Company for annual periods beginning in fiscal year 2025 and for interim periods beginning in fiscal year 2026 and requires retrospective adoption (with early adoption permitted). While the guidance will not have an effect on the Company’s Consolidated Statements of Operations or Consolidated Balance Sheets upon adoption, it will affect certain segment reporting disclosures in the Company’s fiscal 2025 annual report. Improvements to Income Tax Disclosures In December 2023, the FASB issued guidance to enhance income tax disclosures. The new guidance requires an expanded effective tax rate reconciliation, the disclosure of cash taxes paid segregated between U.S. federal, U.S. state and foreign, with further disaggregation by jurisdiction if certain thresholds are met and eliminates certain disclosures related to uncertain tax benefits. The Company will adopt the new guidance, including the expanded disclosures, beginning with the Company’s 2026 fiscal year. Disaggregation of Income Statement Expense In November 2024, the FASB issued guidance that requires the disclosure of additional information related to certain costs and expenses, including amounts of inventory purchases, employee compensation, and depreciation and amortization included in each income statement line item. The guidance also requires disclosure of the total amount of selling expenses and the Company’s definition of selling expenses. The guidance is effective for the Company for annual periods beginning in fiscal year 2028 and for interim periods beginning in fiscal year 2029. The Company is currently assessing the impacts of the new guidance on its financial statement disclosures. Enhancement and Standardization of Climate-Related Disclosures In March 2024, the Securities and Exchange Commission adopted new rules that will require disclosure of: • Certain climate-related information including climate-related risks, targets and goals that are reasonably likely to have a material impact, as applicable, on a company’s strategy, business, results of operations or financial condition; • Certain greenhouse gas emissions, if material; and • Certain financial information regarding the effects of severe weather events and other natural conditions, within the notes to the financial statements The new rules are applicable to annual reporting periods and will be phased in beginning with the Company’s 2026 fiscal year. In April 2024, given pending legal challenges, the Securities and Exchange Commission issued an order to voluntarily stay the new rules. The Company is evaluating the impacts of the new rules on its financial statement disclosures.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Pay vs Performance Disclosure
Net income attributable to The Walt Disney Company (Disney)	$ 2,554	$ 1,911

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 28, 2024 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On December 13, 2024, Brent A. Woodford, the Company’s Executive Vice President, Controllership, Financial Planning and Tax, adopted a trading plan intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended. Mr. Woodford’s trading plan provides for the potential exercise of vested stock options granted to Mr. Woodford on December 17, 2015, December 21, 2016 and December 19, 2017, which will expire on December 17, 2025, December 21, 2026 and December 19, 2027, respectively, and the associated sale of up to 61,245 shares of the Company’s common stock, excluding any shares used to effect a cashless exercise or withheld to satisfy tax withholding obligations in connection with the exercise or net settlement of the option awards. Mr. Woodford’s trading plan is scheduled to terminate on December 21, 2026, subject to early termination .
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Brent A. Woodford [Member]
Trading Arrangements, by Individual
Name	Brent A. Woodford
Title	Executive Vice President, Controllership, Financial Planning and Tax
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 13, 2024
Expiration Date	December 21, 2026
Aggregate Available	61,245

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Dec. 28, 2024
Financial Information by Operating Segments	Segment revenues and segment operating income are as follows: Quarter Ended December 28, December 30, Revenues: Entertainment Third parties $ 10,761 $ 9,881 Intersegment 111 100 10,872 9,981 Sports Third parties 4,514 4,536 Intersegment 336 299 4,850 4,835 Experiences 9,415 9,132 Eliminations (447) (399) Total segment revenues $ 24,690 $ 23,549 Segment operating income (loss): Entertainment $ 1,703 $ 874 Sports 247 (103) Experiences 3,110 3,105 Total segment operating income $ 5,060 $ 3,876
Equity In Income of Investees By Segment	Equity in the income of investees is included in segment operating income as follows: Quarter Ended December 28, December 30, Entertainment $ 118 $ 171 Sports 10 13 Equity in the income of investees included in segment operating income 128 184 Equity in the loss of India joint venture (33) — Amortization of TFCF intangible assets related to an equity investee (3) (3) Equity in the income of investees, net $ 92 $ 181
Reconciliation of Segment Operating Income to Income before Income Taxes	A reconciliation of segment operating income to income before income taxes is as follows: Quarter Ended December 28, December 30, Segment operating income $ 5,060 $ 3,876 Corporate and unallocated shared expenses (460) (308) Equity in the loss of India joint venture (33) — Restructuring and impairment charges (1) (143) — Interest expense, net (367) (246) TFCF and Hulu Acquisition Amortization (2) (397) (451) Income (loss) before income taxes $ 3,660 $ 2,871 (1) See Note 4 for a discussion of amounts in restructuring and impairment charges. (2) TFCF and Hulu Acquisition Amortization is as follows: Quarter Ended December 28, December 30, Amortization of intangible assets $ 327 $ 380 Step-up of film and television costs 67 68 Intangibles related to a TFCF equity investee 3 3 $ 397 $ 451
Components of TFCF and Hulu Acquisition Amortization	TFCF and Hulu Acquisition Amortization is as follows: Quarter Ended December 28, December 30, Amortization of intangible assets $ 327 $ 380 Step-up of film and television costs 67 68 Intangibles related to a TFCF equity investee 3 3 $ 397 $ 451
Schedule of Goodwill	The changes in the carrying amount of goodwill are as follows: Entertainment Sports Experiences Total Balance at September 28, 2024 $ 51,290 $ 16,486 $ 5,550 $ 73,326 Currency translation adjustments and other, net (14) — — (14) Balance at December 28, 2024 $ 51,276 $ 16,486 $ 5,550 $ 73,312

Revenues (Tables)

Revenues (Tables)	3 Months Ended
	Dec. 28, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue by Major Source	The following table presents revenues by segment and major source: Quarter Ended December 28, 2024 Entertainment Sports Experiences Eliminations Total Subscription fees $ 5,065 $ 427 $ — $ — $ 5,492 Affiliate fees 1,655 2,630 — (321) 3,964 Advertising 1,898 1,342 — — 3,240 Theme park admissions — — 3,087 — 3,087 Resorts and vacations — — 2,221 — 2,221 Retail and wholesale sales of merchandise, food and beverage — — 2,572 — 2,572 Merchandise licensing 165 — 927 — 1,092 TV/VOD and home entertainment distribution 943 78 — — 1,021 Theatrical distribution licensing 642 — — — 642 Other 504 373 608 (126) 1,359 $ 10,872 $ 4,850 $ 9,415 $ (447) $ 24,690 Quarter Ended December 30, 2023 Entertainment Sports Experiences Eliminations Total Subscription fees $ 4,507 $ 415 $ — $ — $ 4,922 Affiliate fees 1,766 2,669 — (293) 4,142 Advertising 1,997 1,351 — — 3,348 Theme park admissions — — 2,982 — 2,982 Resorts and vacations — — 2,118 — 2,118 Retail and wholesale sales of merchandise, food and beverage — — 2,477 — 2,477 Merchandise licensing 192 — 967 — 1,159 TV/VOD and home entertainment distribution 745 57 — — 802 Theatrical distribution licensing 251 — — — 251 Other 523 343 588 (106) 1,348 $ 9,981 $ 4,835 $ 9,132 $ (399) $ 23,549
Disaggregation of Revenue by Geographical Markets	The following table presents revenues by segment and primary geographical markets: Quarter Ended December 28, 2024 Entertainment Sports Experiences Eliminations Total Americas $ 8,492 $ 4,716 $ 7,121 $ (447) $ 19,882 Europe 1,651 77 1,127 — 2,855 Asia Pacific 729 57 1,167 — 1,953 Total revenues $ 10,872 $ 4,850 $ 9,415 $ (447) $ 24,690 Quarter Ended December 30, 2023 Entertainment Sports Experiences Eliminations Total Americas $ 7,588 $ 4,358 $ 7,037 $ (399) $ 18,584 Europe 1,409 179 1,022 — 2,610 Asia Pacific 984 298 1,073 — 2,355 Total revenues $ 9,981 $ 4,835 $ 9,132 $ (399) $ 23,549
Contract with Customer, Asset and Liability	Accounts receivable and deferred revenues from contracts with customers are as follows: December 28, September 28, Accounts receivable Current $ 11,783 $ 10,463 Non-current 1,040 1,040 Allowance for credit losses (114) (118) Deferred revenues Current 6,050 5,587 Non-current 884 858

Cash, Cash Equivalents, Restr_2

Cash, Cash Equivalents, Restricted Cash and Borrowings (Tables)	3 Months Ended
	Dec. 28, 2024
Reconciliation of Cash, Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the Condensed Consolidated Balance Sheets to the total of the amounts reported in the Condensed Consolidated Statements of Cash Flows. December 28, September 28, Cash and cash equivalents $ 5,486 $ 6,002 Restricted cash included in other assets 96 100 Total cash, cash equivalents and restricted cash in the statement of cash flows $ 5,582 $ 6,102
Borrowing Activity	During the quarter ended December 28, 2024, the Company’s borrowing activity was as follows: September 28, Borrowings Payments Other December 28, Commercial paper with original maturities less than three months (1) $ 727 $ 1,283 $ — $ 4 $ 2,014 Commercial paper with original maturities greater than three months 2,313 49 (1,501) (19) 842 U.S. dollar denominated borrowings 40,496 1,057 — (70) 41,483 Asia Theme Parks borrowings 1,292 — (26) (107) 1,159 Foreign currency denominated borrowings and other (2) 987 — (925) (252) (190) $ 45,815 $ 2,389 $ (2,452) $ (444) $ 45,308 (1) Borrowings and reductions of borrowings are reported net. (2) The other activity is attributable to market value adjustments for debt with qualifying hedges.
Line of Credit Facilities	At December 28, 2024, the Company’s bank facilities, which are with a syndicate of lenders and support our commercial paper borrowings, were as follows: Committed Capacity Unused Facility expiring February 2025 $ 5,250 $ — $ 5,250 Facility expiring March 2027 4,000 — 4,000 Facility expiring March 2029 3,000 — 3,000 Total $ 12,250 $ — $ 12,250
Interest Expense, net	Interest expense (net of amounts capitalized), interest and investment income, and net periodic pension and postretirement benefit costs (other than service costs) (see Note 9) are reported net in the Condensed Consolidated Statements of Income and consist of the following: Quarter Ended December 28, December 30, Interest expense $ (487) $ (528) Interest and investment income 54 182 Net periodic pension and postretirement benefit costs (other than service costs) 66 100 Interest expense, net $ (367) $ (246)

International Theme Parks (Tabl

International Theme Parks (Tables)	3 Months Ended
	Dec. 28, 2024
Consolidating Balance Sheets
Impact of Consolidating Financial Statements of International Theme Parks	The following table summarizes the carrying amounts of the Asia Theme Parks’ assets and liabilities included in the Company’s Condensed Consolidated Balance Sheets: December 28, September 28, Cash and cash equivalents $ 438 $ 510 Other current assets 199 178 Total current assets 637 688 Parks, resorts and other property 5,943 6,141 Other assets 265 217 Total assets $ 6,845 $ 7,046 Current liabilities $ 700 $ 695 Long-term borrowings 1,159 1,292 Other long-term liabilities 453 409 Total liabilities $ 2,312 $ 2,396
Consolidating Income Statements
Impact of Consolidating Financial Statements of International Theme Parks	The following table summarizes the International Theme Parks’ revenues and costs and expenses included in the Company’s Condensed Consolidated Statements of Income for the quarter ended December 28, 2024: Revenues $ 1,531 Costs and expenses (1,199)

Produced and Acquired_License_2

Produced and Acquired/Licensed Content Costs and Advances (Tables)	3 Months Ended
	Dec. 28, 2024
Other Industries [Abstract]
Balances of Produced and Licensed Content Costs	Total capitalized produced and licensed content by predominant monetization strategy is as follows: As of December 28, 2024 As of September 28, 2024 Predominantly Predominantly Total Predominantly Predominantly Total Produced content Released, less amortization $ 4,845 $ 13,950 $ 18,795 $ 4,568 $ 13,621 $ 18,189 Completed, not released 89 2,117 2,206 16 2,265 2,281 In-process 4,384 3,653 8,037 4,352 4,067 8,419 In development or pre-production 282 92 374 196 73 269 $ 9,600 $ 19,812 29,412 $ 9,132 $ 20,026 29,158 Licensed content - Television programming rights and advances 4,250 5,251 Total produced and licensed content $ 33,662 $ 34,409 Current portion $ 1,157 $ 2,097 Non-current portion $ 32,505 $ 32,312
Amortization of Produced and Licensed Content Costs	Amortization of produced and licensed content is as follows: Quarter Ended December 28, December 30, Produced content Predominantly monetized individually $ 696 $ 768 Predominantly monetized as a group 1,813 1,794 2,509 2,562 Licensed programming rights and advances 4,097 4,590 Total produced and licensed content costs (1) $ 6,606 $ 7,152 (1) Primarily included in “Costs of services” in the Condensed Consolidated Statements of Income

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Dec. 28, 2024
Income Tax Disclosure [Abstract]
Schedule of Deferred Tax Assets and Liabilities	The Company’s deferred tax assets and liabilities by major category as of December 28, 2024 and September 28, 2024 were as follows: December 28, September 28, Deferred tax assets Net operating losses and tax credit carryforwards (1) $ (3,176) $ (3,444) Accrued liabilities (1,173) (1,199) Lease liabilities (845) (862) Licensing revenues (119) (130) Other (489) (655) Total deferred tax assets (5,802) (6,290) Deferred tax liabilities Depreciable, amortizable and other property 6,128 6,584 Investment in U.S. entities (2) 1,068 1,102 Right-of-use lease assets 677 692 Investment in foreign entities 727 465 Other 66 78 Total deferred tax liabilities 8,666 8,921 Net deferred tax liability before valuation allowance 2,864 2,631 Valuation allowance 2,898 2,991 Net deferred tax liability $ 5,762 $ 5,622 (1) Further details on our net operating losses and tax credit carryforwards are as follows: December 28, 2024 International Theme Park net operating losses $ (1,424) U.S. foreign tax credits (810) State net operating losses and tax credit carryforwards (563) Other (379) Total net operating losses and tax credit carryforwards (a) $ (3,176) (a) Approximately $2.0 billion of these carryforwards do not expire. Approximately $1.1 billion expire between fiscal 2026 and fiscal 2035, primarily consisting of U.S. foreign tax credits. (2) Amounts are, in part, due to the tax status of these entities and if the tax status of certain legal entities changes, a significant portion of this balance may reverse.
Summary of Net Operating Loss and Tax Credit Carryforwards	Further details on our net operating losses and tax credit carryforwards are as follows: December 28, 2024 International Theme Park net operating losses $ (1,424) U.S. foreign tax credits (810) State net operating losses and tax credit carryforwards (563) Other (379) Total net operating losses and tax credit carryforwards (a) $ (3,176) (a) Approximately $2.0 billion of these carryforwards do not expire. Approximately $1.1 billion expire between fiscal 2026 and fiscal 2035, primarily consisting of U.S. foreign tax credits.

Pension and Other Benefit Pro_2

Pension and Other Benefit Programs (Tables)	3 Months Ended
	Dec. 28, 2024
Retirement Benefits [Abstract]
Net Periodic Benefit Cost	The components of net periodic benefit cost (income) are as follows: Pension Plans Postretirement Medical Plans Quarter Ended Quarter Ended December 28, December 30, December 28, December 30, Service costs $ 65 $ 62 $ — $ — Other costs (benefits): Interest costs 195 208 11 14 Expected return on plan assets (290) (284) (15) (14) Amortization of previously deferred service costs (credits) — 2 (22) (22) Recognized net actuarial loss (gain) 62 5 (7) (9) Total other costs (benefits) (33) (69) (33) (31) Net periodic benefit cost (income) $ 32 $ (7) $ (33) $ (31)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Dec. 28, 2024
Earnings Per Share [Abstract]
Reconciliation of Weighted Average Number of Common and Common Equivalent Shares Outstanding and Awards Excluded from Diluted Earnings Per Share Calculation	A reconciliation of the weighted average number of common and common equivalent shares outstanding and the number of Awards excluded from the diluted earnings per share calculation, as they were anti-dilutive, are as follows: Quarter Ended December 28, December 30, Shares (in millions): Weighted average number of common and common equivalent shares outstanding (basic) 1,812 1,832 Weighted average dilutive impact of Awards 6 3 Weighted average number of common and common equivalent shares outstanding (diluted) 1,818 1,835 Awards excluded from diluted earnings per share 16 39

Equity (Tables)

Equity (Tables)	3 Months Ended
	Dec. 28, 2024
Equity [Abstract]
Dividends Declared	The Company declared the following dividends in fiscal 2025 and 2024: Per Share Amount Payment Date $0.50 $0.9 billion July 23, 2025 (1) $0.50 $0.9 billion January 16, 2025 $0.45 $0.8 billion July 25, 2024 $0.30 $0.5 billion January 10, 2024 (1) Amount represents our estimate of the dividend that will be paid on July 23, 2025. The actual amount will be determined based on shareholders of record at June 24, 2025.
Changes in Accumulated Other Comprehensive Income (Loss)	The following tables summarize the changes in each component of accumulated other comprehensive income (loss) (AOCI) including our proportional share of equity method investee amounts: Market Value Unrecognized Foreign AOCI AOCI, before tax First quarter of fiscal 2025 Balance at September 28, 2024 $ (319) $ (2,243) $ (1,855) $ (4,417) Quarter Ended December 28, 2024: Unrealized gains (losses) arising during the period 559 — (246) 313 Reclassifications of realized net (gains) losses to net income (88) 33 — (55) Star India Transaction — — 904 904 Balance at December 28, 2024 $ 152 $ (2,210) $ (1,197) $ (3,255) First quarter of fiscal 2024 Balance at September 30, 2023 $ 259 $ (2,172) $ (1,974) $ (3,887) Quarter Ended December 30, 2023: Unrealized gains (losses) arising during the period (277) (3) 137 (143) Reclassifications of realized net (gains) losses to net income (140) (24) — (164) Balance at December 30, 2023 $ (158) $ (2,199) $ (1,837) $ (4,194) Market Value Unrecognized Foreign AOCI Tax on AOCI First quarter of fiscal 2025 Balance at September 28, 2024 $ 71 $ 531 $ 116 $ 718 Quarter Ended December 28, 2024: Unrealized gains (losses) arising during the period (130) — 24 (106) Reclassifications of realized net (gains) losses to net income 21 (8) — 13 Star India Transaction — — (58) (58) Balance at December 28, 2024 $ (38) $ 523 $ 82 $ 567 First quarter of fiscal 2024 Balance at September 30, 2023 $ (64) $ 517 $ 142 $ 595 Quarter Ended December 30, 2023: Unrealized gains (losses) arising during the period 66 — (7) 59 Reclassifications of realized net (gains) losses to net income 32 6 — 38 Balance at December 30, 2023 $ 34 $ 523 $ 135 $ 692 Market Value Unrecognized Foreign AOCI AOCI, after tax First quarter of fiscal 2025 Balance at September 28, 2024 $ (248) $ (1,712) $ (1,739) $ (3,699) Quarter Ended December 28, 2024: Unrealized gains (losses) arising during the period 429 — (222) 207 Reclassifications of realized net (gains) losses to net income (67) 25 — (42) Star India Transaction — — 846 846 Balance at December 28, 2024 $ 114 $ (1,687) $ (1,115) $ (2,688) First quarter of fiscal 2024 Balance at September 30, 2023 $ 195 $ (1,655) $ (1,832) $ (3,292) Quarter Ended December 30, 2023: Unrealized gains (losses) arising during the period (211) (3) 130 (84) Reclassifications of realized net (gains) losses to net income (108) (18) — (126) Balance at December 30, 2023 $ (124) $ (1,676) $ (1,702) $ (3,502)
Details about AOCI Components Reclassified to Net Income	Details about AOCI components reclassified to net income are as follows: Gain (loss) in net income: Affected line item in the Condensed Consolidated Statements of Operations: Quarter Ended December 28, December 30, Market value adjustments, primarily cash flow hedges Primarily revenue $ 88 $ 140 Estimated tax Income taxes (21) (32) 67 108 Pension and postretirement medical expense Interest expense, net (33) 24 Estimated tax Income taxes 8 (6) (25) 18 Total reclassifications for the period $ 42 $ 126

Equity-Based Compensation (Tabl

Equity-Based Compensation (Tables)	3 Months Ended
	Dec. 28, 2024
Share-Based Payment Arrangement [Abstract]
Compensation Expense Related to Stock Options, Stock Appreciation Rights and Restricted Stock Units (RSUs)	Compensation expense related to stock options and restricted stock units (RSUs) is as follows: Quarter Ended December 28, December 30, Stock options $ 16 $ 17 RSUs 301 291 Total equity-based compensation expense (1) $ 317 $ 308 Equity-based compensation expense capitalized during the period $ 44 $ 44 (1) Equity-based compensation expense is net of capitalized equity-based compensation and estimated forfeitures and excludes amortization of previously capitalized equity-based compensation costs.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Dec. 28, 2024
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value	The Company’s assets and liabilities measured at fair value are summarized in the following tables by fair value measurement Level: Fair Value Measurement at December 28, 2024 Level 1 Level 2 Level 3 Total Assets Investments $ — $ 100 $ — $ 100 Derivatives - Foreign exchange — 1,127 — 1,127 Liabilities Derivatives Interest rate — (1,239) — (1,239) Foreign exchange — (527) — (527) Other — (17) — (17) Other — (634) — (634) Total recorded at fair value $ — $ (1,190) $ — $ (1,190) Fair value of borrowings $ — $ 39,433 $ 2,201 $ 41,634 Fair Value Measurement at September 28, 2024 Level 1 Level 2 Level 3 Total Assets Investments $ — $ 94 $ — $ 94 Derivatives Foreign exchange — 569 — 569 Other — 18 — 18 Liabilities Derivatives Interest rate — (983) — (983) Foreign exchange — (588) — (588) Other — (8) — (8) Other — (591) — (591) Total recorded at fair value $ — $ (1,489) $ — $ (1,489) Fair value of borrowings $ — $ 42,392 $ 1,317 $ 43,709

Derivative Instruments (Tables)

Derivative Instruments (Tables)	3 Months Ended
	Dec. 28, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gross Fair Value of Derivative Positions	The Company’s derivative positions measured at fair value (see Note 14) are summarized in the following tables: As of December 28, 2024 Current Investments/ Other Current Other Long- Derivatives designated as hedges Foreign exchange $ 586 $ 323 $ (176) $ (139) Interest rate — — (1,239) — Other — — (5) — Derivatives not designated as hedges Foreign exchange 216 2 (210) (2) Other — 100 (12) — Gross fair value of derivatives 802 425 (1,642) (141) Counterparty netting (618) (239) 722 135 Cash collateral (received) paid (74) — 675 — Net derivative positions $ 110 $ 186 $ (245) $ (6) As of September 28, 2024 Current Investments/ Other Current Other Long- Derivatives designated as hedges Foreign exchange $ 273 $ 184 $ (164) $ (149) Interest rate — — (983) — Other — — (7) (1) Derivatives not designated as hedges Foreign exchange 110 2 (273) (2) Other 18 94 — — Gross fair value of derivatives 401 280 (1,427) (152) Counterparty netting (330) (182) 396 116 Cash collateral (received) paid (27) — 679 — Net derivative positions $ 44 $ 98 $ (352) $ (36)
Carrying Amount and Cumulative Basis Adjustments for Fair Value Hedges Recorded on the Balance Sheet	The following table summarizes fair value hedge adjustments to hedged borrowings: Carrying Amount of Hedged Borrowings Fair Value Adjustments Included December 28, September 28, December 28, September 28, Borrowings: Current $ 495 $ 1,414 $ (5) $ (10) Long-term 9,874 10,128 (1,109) (913) $ 10,369 $ 11,542 $ (1,114) $ (923)
Adjustments Related to Fair Value Hedges Included in Interest Expense, net in the Consolidated Statements of Income	The following amounts are included in “Interest expense, net” in the Condensed Consolidated Statements of Income: Quarter Ended December 28, December 30, Gain (loss) on: Pay-floating swaps $ (195) $ 432 Borrowings hedged with pay-floating swaps 195 (432) Expense associated with interest accruals on pay-floating swaps (111) (154)
Effect of Foreign Exchange Cash Flow Hedges on AOCI	The following table summarizes the effect of foreign exchange cash flow hedges on AOCI: Quarter Ended December 28, December 30, Gain (loss) recognized in Other Comprehensive Income $ 562 $ (264) Gain reclassified from AOCI into the Statements of Operations (1) 89 141 (1) Primarily recorded in revenue.

Principles of Consolidation Pri

Principles of Consolidation Principles of Consolidation - Additional Information (Details) - Hulu LLC - USD ($) $ in Billions	Dec. 31, 2023	Dec. 28, 2024	May 31, 2024	Nov. 30, 2023
Schedule of Equity Method Investments
Equity Method Investment, Ownership Percentage		67%
Equity Interest Held by NBC Universal
Schedule of Equity Method Investments
Equity Method Investment, Ownership Percentage				33%
Redeemable Noncontrolling Interest, Equity, Redemption Value				$ 27.5
Percentage of Tax Benefit Shared Arising from Noncontrolling Interest Acquisition				50%
Tax Benefit Amortization Period Arising from Noncontrolling Interest Acquisition				15 years
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests	$ 8.6
Equity Interest Held by NBC Universal | Minimum | Appraisal Fair Value Between the Company and NBCU
Schedule of Equity Method Investments
Redeemable Noncontrolling Interest, Equity, Redemption Value			$ 0
Equity Interest Held by NBC Universal | Maximum | Appraisal Fair Value Between the Company and NBCU
Schedule of Equity Method Investments
Redeemable Noncontrolling Interest, Equity, Redemption Value			5
Equity Interest Held by NBC Universal | Pro Forma
Schedule of Equity Method Investments
Redeemable Noncontrolling Interest, Equity, Redemption Value			$ 5

Financial Information by Operat

Financial Information by Operating Segments (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Segment Reporting Information
Revenues	$ 24,690	$ 23,549
Segment operating income	5,060	3,876
Total Segments
Segment Reporting Information
Revenues	24,690	23,549
Entertainment Segment
Segment Reporting Information
Revenues	10,872	9,981
Segment operating income	1,703	874
Entertainment Segment | Entertainment Third Party
Segment Reporting Information
Revenues	10,761	9,881
Entertainment Segment | Intersegment Eliminations
Segment Reporting Information
Revenues	111	100
Sports Segment
Segment Reporting Information
Revenues	4,850	4,835
Segment operating income	247	(103)
Sports Segment | Sports Third Party
Segment Reporting Information
Revenues	4,514	4,536
Sports Segment | Intersegment Eliminations
Segment Reporting Information
Revenues	336	299
Experiences Segment
Segment Reporting Information
Revenues	9,415	9,132
Segment operating income	3,110	3,105
Segment Eliminations
Segment Reporting Information
Revenues	$ (447)	$ (399)

Equity in the Income of Investe

Equity in the Income of Investees included in Segment Operating Results (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Schedule of Equity Method Investments
Equity in the income of investees	$ 92	$ 181
Amortization of Intangible Assets Held by Equity Investees	(3)	(3)
India Joint Venture
Schedule of Equity Method Investments
Equity in the income of investees	(33)	0
Entertainment Segment
Schedule of Equity Method Investments
Equity in the income of investees	118	171
Sports Segment
Schedule of Equity Method Investments
Equity in the income of investees	10	13
Total Segments
Schedule of Equity Method Investments
Equity in the income of investees	$ 128	$ 184

Reconciliation of Segment Opera

Reconciliation of Segment Operating Income to Income before Income Taxes (Details) - USD ($) $ in Millions		3 Months Ended
		Dec. 28, 2024	Dec. 30, 2023
Reconciling Items for Operating Income (Loss) from Segment to Consolidated
Segment operating income		$ 5,060	$ 3,876
Corporate and unallocated shared expenses		(460)	(308)
Income (Loss) from Equity Method Investments		92	181
Restructuring and impairment charges	[1]	(143)	0
Interest expense, net		(367)	(246)
Amortization of Intangible Assets	[2]	(397)	(451)
Income before income taxes		3,660	2,871
India Joint Venture
Reconciling Items for Operating Income (Loss) from Segment to Consolidated
Income (Loss) from Equity Method Investments		$ (33)	$ 0
[1] See Note 4 for a discussion of amounts in restructuring and impairment charges. TFCF and Hulu Acquisition Amortization is as follows: Quarter Ended December 28, December 30, Amortization of intangible assets $ 327 $ 380 Step-up of film and television costs 67 68 Intangibles related to a TFCF equity investee 3 3 $ 397 $ 451

TFCF and Hulu Acquisition Amort

TFCF and Hulu Acquisition Amortization (Details) - USD ($) $ in Millions		3 Months Ended
		Dec. 28, 2024	Dec. 30, 2023
Amortization of Intangible Assets	[1]	$ 397	$ 451
Amortization of Intangible Assets Held by Equity Investees		(3)	(3)
TFCF and Hulu
Amortization of Intangible Assets		327	380
Amortization		67	68
Amortization of Intangible Assets Held by Equity Investees		$ 3	$ 3
[1] TFCF and Hulu Acquisition Amortization is as follows: Quarter Ended December 28, December 30, Amortization of intangible assets $ 327 $ 380 Step-up of film and television costs 67 68 Intangibles related to a TFCF equity investee 3 3 $ 397 $ 451

Acquisitions Changes in Carry A

Acquisitions Changes in Carry Amount of Goodwill (Details) $ in Millions	3 Months Ended
	Dec. 28, 2024 USD ($)
Goodwill [Line Items]
Beginning balance	$ 73,326
Currency translation adjustments and other, net	(14)
Ending balance	73,312
Entertainment Segment
Goodwill [Line Items]
Beginning balance	51,290
Currency translation adjustments and other, net	(14)
Ending balance	51,276
Sports Segment
Goodwill [Line Items]
Beginning balance	16,486
Currency translation adjustments and other, net	0
Ending balance	16,486
Experiences Segment
Goodwill [Line Items]
Beginning balance	5,550
Currency translation adjustments and other, net	0
Ending balance	$ 5,550

Description of Business and Seg

Description of Business and Segment Information - Additional Information (Details)	3 Months Ended
	Dec. 28, 2024
Segment Reporting Information
Number of Operating Segments	3

Disaggregation of Revenue by Ma

Disaggregation of Revenue by Major Source (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Disaggregation of Revenue [Line Items]
Revenues	$ 24,690	$ 23,549
Subscription fees
Disaggregation of Revenue [Line Items]
Revenues	5,492	4,922
Affiliate fees
Disaggregation of Revenue [Line Items]
Revenues	3,964	4,142
Advertising
Disaggregation of Revenue [Line Items]
Revenues	3,240	3,348
Theme park admissions
Disaggregation of Revenue [Line Items]
Revenues	3,087	2,982
Resorts and vacations
Disaggregation of Revenue [Line Items]
Revenues	2,221	2,118
Retail and wholesale sales of merchandise, food and beverage
Disaggregation of Revenue [Line Items]
Revenues	2,572	2,477
Merchandise licensing
Disaggregation of Revenue [Line Items]
Revenues	1,092	1,159
TV/VOD and home entertainment distribution
Disaggregation of Revenue [Line Items]
Revenues	1,021	802
Theatrical distribution licensing
Disaggregation of Revenue [Line Items]
Revenues	642	251
Other
Disaggregation of Revenue [Line Items]
Revenues	1,359	1,348
Entertainment Segment
Disaggregation of Revenue [Line Items]
Revenues	10,872	9,981
Entertainment Segment | Subscription fees
Disaggregation of Revenue [Line Items]
Revenues	5,065	4,507
Entertainment Segment | Affiliate fees
Disaggregation of Revenue [Line Items]
Revenues	1,655	1,766
Entertainment Segment | Advertising
Disaggregation of Revenue [Line Items]
Revenues	1,898	1,997
Entertainment Segment | Merchandise licensing
Disaggregation of Revenue [Line Items]
Revenues	165	192
Entertainment Segment | TV/VOD and home entertainment distribution
Disaggregation of Revenue [Line Items]
Revenues	943	745
Entertainment Segment | Theatrical distribution licensing
Disaggregation of Revenue [Line Items]
Revenues	642	251
Entertainment Segment | Other
Disaggregation of Revenue [Line Items]
Revenues	504	523
Sports Segment
Disaggregation of Revenue [Line Items]
Revenues	4,850	4,835
Sports Segment | Subscription fees
Disaggregation of Revenue [Line Items]
Revenues	427	415
Sports Segment | Affiliate fees
Disaggregation of Revenue [Line Items]
Revenues	2,630	2,669
Sports Segment | Advertising
Disaggregation of Revenue [Line Items]
Revenues	1,342	1,351
Sports Segment | TV/VOD and home entertainment distribution
Disaggregation of Revenue [Line Items]
Revenues	78	57
Sports Segment | Other
Disaggregation of Revenue [Line Items]
Revenues	373	343
Experiences Segment
Disaggregation of Revenue [Line Items]
Revenues	9,415	9,132
Experiences Segment | Theme park admissions
Disaggregation of Revenue [Line Items]
Revenues	3,087	2,982
Experiences Segment | Resorts and vacations
Disaggregation of Revenue [Line Items]
Revenues	2,221	2,118
Experiences Segment | Retail and wholesale sales of merchandise, food and beverage
Disaggregation of Revenue [Line Items]
Revenues	2,572	2,477
Experiences Segment | Merchandise licensing
Disaggregation of Revenue [Line Items]
Revenues	927	967
Experiences Segment | Other
Disaggregation of Revenue [Line Items]
Revenues	608	588
Segment Eliminations
Disaggregation of Revenue [Line Items]
Revenues	(447)	(399)
Segment Eliminations | Affiliate fees
Disaggregation of Revenue [Line Items]
Revenues	(321)	(293)
Segment Eliminations | Other
Disaggregation of Revenue [Line Items]
Revenues	$ (126)	$ (106)

Disaggregation of Revenue by Ge

Disaggregation of Revenue by Geographical Markets (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Disaggregation of Revenue [Line Items]
Revenues	$ 24,690	$ 23,549
Americas
Disaggregation of Revenue [Line Items]
Revenues	19,882	18,584
Europe
Disaggregation of Revenue [Line Items]
Revenues	2,855	2,610
Asia Pacific
Disaggregation of Revenue [Line Items]
Revenues	1,953	2,355
Entertainment Segment
Disaggregation of Revenue [Line Items]
Revenues	10,872	9,981
Entertainment Segment | Americas
Disaggregation of Revenue [Line Items]
Revenues	8,492	7,588
Entertainment Segment | Europe
Disaggregation of Revenue [Line Items]
Revenues	1,651	1,409
Entertainment Segment | Asia Pacific
Disaggregation of Revenue [Line Items]
Revenues	729	984
Sports Segment
Disaggregation of Revenue [Line Items]
Revenues	4,850	4,835
Sports Segment | Americas
Disaggregation of Revenue [Line Items]
Revenues	4,716	4,358
Sports Segment | Europe
Disaggregation of Revenue [Line Items]
Revenues	77	179
Sports Segment | Asia Pacific
Disaggregation of Revenue [Line Items]
Revenues	57	298
Experiences Segment
Disaggregation of Revenue [Line Items]
Revenues	9,415	9,132
Experiences Segment | Americas
Disaggregation of Revenue [Line Items]
Revenues	7,121	7,037
Experiences Segment | Europe
Disaggregation of Revenue [Line Items]
Revenues	1,127	1,022
Experiences Segment | Asia Pacific
Disaggregation of Revenue [Line Items]
Revenues	1,167	1,073
Segment Eliminations
Disaggregation of Revenue [Line Items]
Revenues	(447)	(399)
Segment Eliminations | Americas
Disaggregation of Revenue [Line Items]
Revenues	(447)	(399)
Segment Eliminations | Europe
Disaggregation of Revenue [Line Items]
Revenues	0	0
Segment Eliminations | Asia Pacific
Disaggregation of Revenue [Line Items]
Revenues	$ 0	$ 0

Contract with Customer, Asset a

Contract with Customer, Asset and Liability (Details) - USD ($) $ in Millions	Dec. 28, 2024	Sep. 28, 2024
Accounts Receivable, before Allowance for Credit Loss, Current	$ 11,783	$ 10,463
Accounts Receivable, before Allowance for Credit Loss, Noncurrent	1,040	1,040
Contract with Customer, Asset, Allowance for Credit Loss	(114)	(118)
Contract with Customer, Liability, Current	6,050	5,587
Contract with Customer, Liability, Noncurrent	$ 884	$ 858

Revenues - Additional Informati

Revenues - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023	Sep. 28, 2024
Contract with Customer, Performance Obligation Satisfied in Previous Period	$ 300	$ 300
Revenue, Remaining Performance Obligation, Amount	15,000
Contract with Customer, Liability, Revenue Recognized	3,600	$ 3,400
Syndicated programming
Long-term receivables, net of allowance for credit losses	300		$ 300
Mortgage Receivable
Long-term receivables, net of allowance for credit losses	700		$ 700
Unsatisfied performance obligation recognized in fiscal 2025
Revenue, Remaining Performance Obligation, Amount	5,000
Unsatisfied performance obligation recognized in fiscal 2026
Revenue, Remaining Performance Obligation, Amount	4,000
Unsatisfied performance obligation recognized in fiscal 2027
Revenue, Remaining Performance Obligation, Amount	3,000
Unsatisfied performance obligation recognized thereafter
Revenue, Remaining Performance Obligation, Amount	$ 3,000

Acquisitions and Dispositions -

Acquisitions and Dispositions - Additional Information (Details) - USD ($) $ in Millions			3 Months Ended	12 Months Ended
	Jan. 06, 2025	Nov. 14, 2024	Dec. 28, 2024	Sep. 28, 2024
Subsequent Event | Fubo | Business Acquisition Terminated
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on Contract Termination for Default	$ 130
Subsequent Event | Fubo | Fubo Termination Fee if Business Acquisition Terminated by Fubo
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on Contract Termination for Default	50
Subsequent Event | Fubo | Settlement Paid by the Company, Fox and WBD
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Payments for Legal Settlements	220
Subsequent Event | Fubo | Scenario, Plan | Loans Receivable
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Business Combination, Separately Recognized Transactions, Assets Recognized	$ 145
Fubo | Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Equity Method Investment, Ownership Percentage	70%
Star India
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Not Discontinued Operation, Equity Method Investment Retained After Disposal, Ownership Interest After Disposal			37%
Goodwill impairment and impairment of produced and licensed content			$ 100	$ 1,500
Goodwill, Foreign Currency Translation Gain (Loss)		$ 800
Non-cash Tax Charge		$ 200
Equity Interest Held by Fubo Shareholders | Fubo | Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Equity Method Investment, Ownership Percentage	30%
Equity Interest Held by RIL | Star India
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Equity Method Investment, Ownership Percentage			56%
Equity Interest Held by Bodhi Tree Systems | Star India
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Equity Method Investment, Ownership Percentage			7%

Reconciliation of Cash, Cash Eq

Reconciliation of Cash, Cash Equivalents and Restricted Cash Reported in the Condensed Consolidated Balance Sheet to the Total Amount in the Condensed Consolidated Statements of Cash Flows (Details) - USD ($) $ in Millions	Dec. 28, 2024	Sep. 28, 2024	Dec. 30, 2023	Sep. 30, 2023
Accounting Policies [Abstract]
Cash and Cash Equivalents	$ 5,486	$ 6,002
Restricted Cash and Investments, Noncurrent	96	100
Cash, Cash Equivalents and Restricted Cash in the Statement of Cash Flows	$ 5,582	$ 6,102	$ 7,247	$ 14,235

Borrowing Activity (Details)

Borrowing Activity (Details) $ in Millions	3 Months Ended
	Dec. 28, 2024 USD ($)
Borrowings [Roll Forward]
Borrowings beginning balance	$ 45,815
Borrowings	2,389
Payments	(2,452)
Other Activity	(444)
Borrowings ending balance	45,308
Commercial paper with original maturities less than three months
Borrowings [Roll Forward]
Borrowings beginning balance	727
Borrowings	1,283	[1]
Payments	0	[1]
Other Activity	4
Borrowings ending balance	2,014
Commercial paper with original maturities greater than three months
Borrowings [Roll Forward]
Borrowings beginning balance	2,313
Borrowings	49
Payments	(1,501)
Other Activity	(19)
Borrowings ending balance	842
U.S. dollar denominated borrowings
Borrowings [Roll Forward]
Borrowings beginning balance	40,496
Borrowings	1,057
Payments	0
Other Activity	(70)
Borrowings ending balance	41,483
Asia International Theme Parks borrowings
Borrowings [Roll Forward]
Borrowings beginning balance	1,292
Borrowings	0
Payments	(26)
Other Activity	(107)
Borrowings ending balance	1,159
Foreign currency denominated debt and other
Borrowings [Roll Forward]
Borrowings beginning balance	987
Borrowings	0
Payments	(925)
Other Activity	(252)	[2]
Borrowings ending balance	$ (190)
[1] Borrowings and reductions of borrowings are reported net. The other activity is attributable to market value adjustments for debt with qualifying hedges.

Cash, Cash Equivalents, Restr_3

Cash, Cash Equivalents, Restricted Cash and Borrowings Line of Credit Facilities (Details) $ in Millions	Dec. 28, 2024 USD ($)
Line of Credit Facility
Line of Credit Facility, Maximum Borrowing Capacity	$ 12,250
Line of Credit Facility, Amount Outstanding	0
Line of Credit Facility, Remaining Borrowing Capacity	12,250
Line of Credit Expiring February 2025
Line of Credit Facility
Line of Credit Facility, Maximum Borrowing Capacity	5,250
Line of Credit Facility, Amount Outstanding	0
Line of Credit Facility, Remaining Borrowing Capacity	5,250
Line of Credit Expiring March 2027
Line of Credit Facility
Line of Credit Facility, Maximum Borrowing Capacity	4,000
Line of Credit Facility, Amount Outstanding	0
Line of Credit Facility, Remaining Borrowing Capacity	4,000
Line of Credit Expiring March 2029
Line of Credit Facility
Line of Credit Facility, Maximum Borrowing Capacity	3,000
Line of Credit Facility, Amount Outstanding	0
Line of Credit Facility, Remaining Borrowing Capacity	$ 3,000

Cash, Cash Equivalents, Restr_4

Cash, Cash Equivalents, Restricted Cash and Borrowings Interest Expense, net (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Interest expense	$ (487)	$ (528)
Interest and investment income	54	182
Net periodic pension and postretirement benefit costs other than service costs	66	100
Interest expense, net	$ (367)	$ (246)

Cash, Cash Equivalents, Restr_5

Cash, Cash Equivalents, Restricted Cash and Borrowings - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 28, 2024	Nov. 30, 2024
Debt Instrument [Line Items]
Line of Credit Facility, Interest Rate Description	These facilities allow for borrowings at rates based on the Secured Overnight Financing Rate (SOFR) and at other variable rates for non-U.S. dollar denominated borrowings, plus a fixed spread that varies with the Company’s debt ratings assigned by Moody’s Ratings and S&P Global Ratings ranging from 0.655% to 1.225%.
Line of Credit Facility, Maximum Borrowing Capacity	$ 12,250
Letters of Credit Outstanding, Amount	400
Star India
Debt Instrument [Line Items]
Letters of Credit Outstanding, Amount	$ 1,300
Minimum
Debt Instrument [Line Items]
Variable Spread Above SOFR	0.655%
Maximum
Debt Instrument [Line Items]
Variable Spread Above SOFR	1.225%
Letter of Credit
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 500
Line of Credit Expiring February 2025
Debt Instrument [Line Items]
Line of Credit Facility, Expiration Date	Feb. 27, 2025
Line of Credit Facility, Maximum Borrowing Capacity	$ 5,250
Line of Credit Expiring March 2027
Debt Instrument [Line Items]
Line of Credit Facility, Expiration Date	Mar. 31, 2027
Line of Credit Facility, Maximum Borrowing Capacity	$ 4,000
Line of Credit Expiring March 2029
Debt Instrument [Line Items]
Line of Credit Facility, Expiration Date	Mar. 31, 2029
Line of Credit Facility, Maximum Borrowing Capacity	$ 3,000
Credit Facility Related to Cruise Ship Treasure | Disney Cruise Line
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 1,100
Debt Instrument, Interest Rate, Stated Percentage		3.80%
Credit Facility Related to Cruise Ship Destiny | Disney Cruise Line
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,100
Debt Instrument, Interest Rate, Stated Percentage	3.74%

Impact of Consolidating Balance

Impact of Consolidating Balance Sheets of Asia Theme Parks (Details) - USD ($) $ in Millions	Dec. 28, 2024	Sep. 28, 2024
Schedule of Condensed Consolidating Balance Sheets [Line Items]
Cash and Cash Equivalents	$ 5,486	$ 6,002
Other current assets	1,239	2,391
Total current assets	23,667	25,241
Parks, resorts and other property	38,140	37,041
Other assets	10,148	13,101
Total assets	197,046	196,219
Current liabilities	34,846	34,599
Long-term borrowings	38,688	38,970
Asia International Theme Parks
Schedule of Condensed Consolidating Balance Sheets [Line Items]
Cash and Cash Equivalents	438	510
Other current assets	199	178
Total current assets	637	688
Parks, resorts and other property	5,943	6,141
Other assets	265	217
Total assets	6,845	7,046
Current liabilities	700	695
Long-term borrowings	1,159	1,292
Other long-term liabilities	453	409
Total liabilities	$ 2,312	$ 2,396

Impact of Consolidating Income

Impact of Consolidating Income Statements of International Theme Parks (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Schedule of Condensed Consolidating Statement of Operations [Line Items]
Revenues	$ 24,690	$ 23,549
Cost and expenses	(20,612)	$ (20,613)
International Theme Parks
Schedule of Condensed Consolidating Statement of Operations [Line Items]
Revenues	1,531
Cost and expenses	$ (1,199)

International Theme Parks - Add

International Theme Parks - Additional Information (Details) $ in Millions, ¥ in Billions, $ in Billions	3 Months Ended
	Dec. 28, 2024 USD ($)	Dec. 28, 2024 HKD ($)	Dec. 28, 2024 CNY (¥)	Dec. 30, 2023 USD ($)
Noncontrolling Interest
Net Cash Provided by Operating Activities	$ 3,205			$ 2,185
Net Cash Used in Investing Activities	(2,575)			(1,246)
Net Cash Used in Financing Activities	(997)			$ (8,006)
Asia International Theme Parks
Noncontrolling Interest
Royalties And Management Fees	69
International Theme Parks
Noncontrolling Interest
Net Cash Provided by Operating Activities	511
Net Cash Used in Investing Activities	(288)
Net Cash Used in Financing Activities	(24)
Hong Kong Disneyland Resort | Loans
Noncontrolling Interest
Variable Interest Entity, Financial or Other Support, Amount	64
Variable Interest Entity, Financial or Other Support, Amount from Noncontrolling Interests	$ 43
Debt Instrument, Maturity Date	Sep. 30, 2025	Sep. 30, 2025	Sep. 30, 2025
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]	HIBOR [Member]	HIBOR [Member]	HIBOR [Member]
Variable Spread Above Reference Rate	2%	2%	2%
Hong Kong Disneyland Resort | Line of Credit
Noncontrolling Interest
Variable Interest Entity, Financial or Other Support, Amount	$ 348	$ 2.7
Debt Instrument, Maturity Date	Dec. 31, 2028	Dec. 31, 2028	Dec. 31, 2028
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]	HIBOR [Member]	HIBOR [Member]	HIBOR [Member]
Variable Spread Above Reference Rate	1.25%	1.25%	1.25%
Shanghai Disney Resort | Loans
Noncontrolling Interest
Variable Interest Entity, Financial or Other Support, Amount	$ 929
Debt Instrument, Interest Rate, Stated Percentage	8%	8%	8%
Debt Instrument, Maturity Date	Dec. 31, 2036	Dec. 31, 2036	Dec. 31, 2036
Shanghai Disney Resort | Line of Credit
Noncontrolling Interest
Variable Interest Entity, Financial or Other Support, Amount	$ 300		¥ 1.9
Debt Instrument, Interest Rate, Stated Percentage	8%	8%	8%
Debt Instrument, Maturity Date	Dec. 31, 2033	Dec. 31, 2033	Dec. 31, 2033
Shanghai Disney Resort | Shendi Loan
Noncontrolling Interest
Variable Interest Entity, Financial or Other Support, Amount from Noncontrolling Interests	$ 1,100		¥ 8.2
Debt Instrument, Interest Rate, Stated Percentage	8%	8%	8%
Shanghai Disney Resort | Shendi Line of Credit
Noncontrolling Interest
Variable Interest Entity, Financial or Other Support, Amount from Noncontrolling Interests	$ 400		¥ 2.6
Debt Instrument, Interest Rate, Stated Percentage	8%	8%	8%
Hong Kong Disneyland Resort
Noncontrolling Interest
Effective Ownership Interest	48%	48%	48%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	52%	52%	52%
Shanghai Disney Resort
Noncontrolling Interest
Effective Ownership Interest	43%	43%	43%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	57%	57%	57%
Shanghai Disney Resort Management Company
Noncontrolling Interest
Effective Ownership Interest	70%	70%	70%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	30%	30%	30%
Shanghai Disney Resort Management Company | Shanghai Disney Resort | Shendi Loan
Noncontrolling Interest
Debt Instrument, Maturity Date	Dec. 31, 2036	Dec. 31, 2036	Dec. 31, 2036
Shanghai Disney Resort Management Company | Shanghai Disney Resort | Shendi Line of Credit
Noncontrolling Interest
Debt Instrument, Maturity Date	Dec. 31, 2033	Dec. 31, 2033	Dec. 31, 2033

Balances of Produced and Licens

Balances of Produced and Licensed Content Costs (Details) - USD ($) $ in Millions	Dec. 28, 2024	Sep. 28, 2024
Film, Monetized on Its Own, Capitalized Cost [Abstract]
Released, less amortization	$ 4,845	$ 4,568
Completed, not released	89	16
In-process	4,384	4,352
In development or pre-production	282	196
Film, Monetized on Its Own, Capitalized Cost	9,600	9,132
Film, Monetized in Film Group, Capitalized Cost [Abstract]
Released, less amortization	13,950	13,621
Completed, not released	2,117	2,265
In-process	3,653	4,067
In development or pre-production	92	73
Film, Monetized in Film Group, Capitalized Cost	19,812	20,026
Film, Capitalized Cost [Abstract]
Released, less amortization	18,795	18,189
Completed, not released	2,206	2,281
In-process	8,037	8,419
In development or pre-production	374	269
Film, Capitalized Cost	29,412	29,158
Licensed television programming rights and advances	4,250	5,251
Produced and Licensed Content, Total	33,662	34,409
Current portion	1,157	2,097
Non-current portion	$ 32,505	$ 32,312

Amortization of Produced and Li

Amortization of Produced and Licensed Content Costs (Details) - USD ($) $ in Millions		3 Months Ended
		Dec. 28, 2024	Dec. 30, 2023
Amortization of Produced Content Costs		$ 2,509	$ 2,562
Amortization of Programming Rights and Advances		4,097	4,590
Amortization of Produced and Licensed Content Costs, Total	[1]	6,606	7,152
Monetized individually
Amortization of Produced Content Costs		696	768
Monetized as a group
Amortization of Produced Content Costs		$ 1,813	$ 1,794
[1] Primarily included in “Costs of services” in the Condensed Consolidated Statements of Income

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions		Dec. 28, 2024	Sep. 28, 2024
Deferred Tax Assets
Net Operating Losses and Tax Credit Carryforwards	[1]	$ (3,176)	$ (3,444)
Accrued Liabilities		(1,173)	(1,199)
Lease Liabilities		(845)	(862)
Licensing Revenues		(119)	(130)
Other		(489)	(655)
Deferred Tax Assets, Gross		(5,802)	(6,290)
Deferred Tax Liabilities
Depreciable, amortizable and other property		6,128	6,584
Investment in U.S. entities	[2]	1,068	1,102
Right-of-Use Assets		677	692
Investment in foreign entities		727	465
Other		66	78
Deferred Tax Liabilities, Gross		8,666	8,921
Net deferred tax liability before valuation allowance		2,864	2,631
Valuation Allowance		2,898	2,991
Net Deferred Deferred Tax Liabilities		$ 5,762	$ 5,622
[1] Further details on our net operating losses and tax credit carryforwards are as follows: December 28, 2024 International Theme Park net operating losses $ (1,424) U.S. foreign tax credits (810) State net operating losses and tax credit carryforwards (563) Other (379) Total net operating losses and tax credit carryforwards (a) $ (3,176) (a) Approximately $2.0 billion of these carryforwards do not expire. Approximately $1.1 billion expire between fiscal 2026 and fiscal 2035, primarily consisting of U.S. foreign tax credits. Amounts are, in part, due to the tax status of these entities and if the tax status of certain legal entities changes, a significant portion of this balance may reverse.

Income Taxes - Net Operating Lo

Income Taxes - Net Operating Loss and Tax Credit Carryforward (Details) - USD ($) $ in Millions		3 Months Ended
		Dec. 28, 2024	Sep. 28, 2024
Income Taxes [Line Items]
Net Operating Losses and Tax Credit Carryforwards	[1]	$ (3,176)	$ (3,444)
Deferred Tax Assets, Tax Credit Carryforwards, Foreign		(810)
State Net Operating Loss and Tax Credit Carryforward		(563)
Deferred Tax Assets, Tax Credit Carryforwards, Other		(379)
Deferred Tax Assets, Operating Loss and Tax, Not Subject to Expiration		2,000
Asia International Theme Parks borrowings
Income Taxes [Line Items]
Net Operating Losses and Tax Credit Carryforwards		(1,424)
Deferred Tax Assets, Net Operating Loss and Tax Credit Carryforward		$ 1,100
Asia International Theme Parks borrowings | Minimum
Income Taxes [Line Items]
Operating Loss and Tax Credit Carryforward, Expiration Date		Sep. 30, 2026
Asia International Theme Parks borrowings | Maximum
Income Taxes [Line Items]
Operating Loss and Tax Credit Carryforward, Expiration Date		Sep. 30, 2035
[1] Further details on our net operating losses and tax credit carryforwards are as follows: December 28, 2024 International Theme Park net operating losses $ (1,424) U.S. foreign tax credits (810) State net operating losses and tax credit carryforwards (563) Other (379) Total net operating losses and tax credit carryforwards (a) $ (3,176) (a) Approximately $2.0 billion of these carryforwards do not expire. Approximately $1.1 billion expire between fiscal 2026 and fiscal 2035, primarily consisting of U.S. foreign tax credits.

Income Taxes Income Tax (Detail

Income Taxes Income Tax (Details) - USD ($) $ in Billions	3 Months Ended
	Dec. 28, 2024	Sep. 28, 2024
Income Tax [Line Items]
Unrecognized Tax Benefits, Period Increase (Decrease)	$ (0.2)
Unrecognized Tax Benefits	1.8	$ 2
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	$ 0.8

Net Periodic Benefit Cost (Deta

Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Defined Benefit Plan Disclosure [Line Items]
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component	$ (66)	$ (100)
Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Service costs	65	62
Interest costs	195	208
Expected return on plan assets	(290)	(284)
Amortization of previously deferred service costs (credits)	0	2
Recognized net actuarial loss (gain)	62	5
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component	(33)	(69)
Net periodic benefit cost (income)	32	(7)
Postretirement Medical Plans
Defined Benefit Plan Disclosure [Line Items]
Service costs	0	0
Interest costs	11	14
Expected return on plan assets	(15)	(14)
Amortization of previously deferred service costs (credits)	(22)	(22)
Recognized net actuarial loss (gain)	(7)	(9)
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component	(33)	(31)
Net periodic benefit cost (income)	$ (33)	$ (31)

Reconciliation of Weighted Aver

Reconciliation of Weighted Average Number of Common and Common Equivalent Shares Outstanding and Awards Excluded from Diluted Earnings Per Share Calculation (Details) - shares shares in Millions	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Shares (in millions):
Weighted average number of common and common equivalent shares outstanding (basic)	1,812	1,832
Weighed average dilutive impact of awards	6	3
Weighted average number of common and common equivalent shares outstanding (diluted)	1,818	1,835
Awards excluded from diluted earnings per share	16	39

Equity Dividends Declared (Deta

Equity Dividends Declared (Details) - USD ($) $ / shares in Units, $ in Billions	Jul. 23, 2025		Jan. 16, 2025	Jul. 25, 2024	Jan. 10, 2024
Class of Stock [Line Items]
Common Stock, Dividends, Per Share, Cash Paid				$ 0.45	$ 0.30
Dividends, Cash				$ 0.8	$ 0.5
Subsequent Event
Class of Stock [Line Items]
Dividends Declared Per Share	$ 0.50
Common Stock, Dividends, Per Share, Cash Paid			$ 0.50
Dividends, Cash	$ 0.9	[1]	$ 0.9
[1] Amount represents our estimate of the dividend that will be paid on July 23, 2025. The actual amount will be determined based on shareholders of record at June 24, 2025.

Equity Changes in Accumulated O

Equity Changes in Accumulated Other Comprehensive Loss, Before Tax (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI before Tax, Attributable to Parent, Beginning Balance	$ (4,417)	$ (3,887)
Unrealized gains (losses) arising during the period	313	(143)
Reclassifications of realized net (gains) losses to net income	(55)	(164)
AOCI reclassifications to comprehensive income, before tax	904
AOCI before Tax, Attributable to Parent, Ending Balance	(3,255)	(4,194)
Market Value Adjustments for Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI before Tax, Attributable to Parent, Beginning Balance	(319)	259
Unrealized gains (losses) arising during the period	559	(277)
Reclassifications of realized net (gains) losses to net income	(88)	(140)
AOCI reclassifications to comprehensive income, before tax	0
AOCI before Tax, Attributable to Parent, Ending Balance	152	(158)
Unrecognized Pension and  Postretirement Medical  Expense
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI before Tax, Attributable to Parent, Beginning Balance	(2,243)	(2,172)
Unrealized gains (losses) arising during the period	0	(3)
Reclassifications of realized net (gains) losses to net income	33	(24)
AOCI reclassifications to comprehensive income, before tax	0
AOCI before Tax, Attributable to Parent, Ending Balance	(2,210)	(2,199)
Foreign Currency Translation and Other
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI before Tax, Attributable to Parent, Beginning Balance	(1,855)	(1,974)
Unrealized gains (losses) arising during the period	(246)	137
Reclassifications of realized net (gains) losses to net income	0	0
AOCI reclassifications to comprehensive income, before tax	904
AOCI before Tax, Attributable to Parent, Ending Balance	$ (1,197)	$ (1,837)

Equity Changes in Accumulated_2

Equity Changes in Accumulated Other Comprehensive Loss, Tax (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI Tax, Attributable to Parent, Beginning Balance	$ 718	$ 595
Unrealized gains (losses) arising during the period	(106)	59
Reclassifications of realized net (gains) losses to net income	13	38
AOCI reclassifications to comprehensive income, tax	(58)
AOCI Tax, Attributable to Parent, Ending Balance	567	692
Market Value Adjustments for Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI Tax, Attributable to Parent, Beginning Balance	71	(64)
Unrealized gains (losses) arising during the period	(130)	66
Reclassifications of realized net (gains) losses to net income	21	32
AOCI reclassifications to comprehensive income, tax	0
AOCI Tax, Attributable to Parent, Ending Balance	(38)	34
Unrecognized Pension and  Postretirement Medical  Expense
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI Tax, Attributable to Parent, Beginning Balance	531	517
Unrealized gains (losses) arising during the period	0	0
Reclassifications of realized net (gains) losses to net income	(8)	6
AOCI reclassifications to comprehensive income, tax	0
AOCI Tax, Attributable to Parent, Ending Balance	523	523
Foreign Currency Translation and Other
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI Tax, Attributable to Parent, Beginning Balance	116	142
Unrealized gains (losses) arising during the period	24	(7)
Reclassifications of realized net (gains) losses to net income	0	0
AOCI reclassifications to comprehensive income, tax	(58)
AOCI Tax, Attributable to Parent, Ending Balance	$ 82	$ 135

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Loss, Net of Tax (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI, Beginning Balance	$ (3,699)	$ (3,292)
Unrealized gains (losses) arising during the period	207	(84)
Reclassifications of realized net (gains) losses to net income	(42)	(126)
AOCI reclassifications to comprehensive income, net of tax	846
AOCI, Ending Balance	(2,688)	(3,502)
Market Value Adjustments for Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI, Beginning Balance	(248)	195
Unrealized gains (losses) arising during the period	429	(211)
Reclassifications of realized net (gains) losses to net income	(67)	(108)
AOCI reclassifications to comprehensive income, net of tax	0
AOCI, Ending Balance	114	(124)
Unrecognized Pension and  Postretirement Medical  Expense
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI, Beginning Balance	(1,712)	(1,655)
Unrealized gains (losses) arising during the period	0	(3)
Reclassifications of realized net (gains) losses to net income	25	(18)
AOCI reclassifications to comprehensive income, net of tax	0
AOCI, Ending Balance	(1,687)	(1,676)
Foreign Currency Translation and Other
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCI, Beginning Balance	(1,739)	(1,832)
Unrealized gains (losses) arising during the period	(222)	130
Reclassifications of realized net (gains) losses to net income	0	0
AOCI reclassifications to comprehensive income, net of tax	846
AOCI, Ending Balance	$ (1,115)	$ (1,702)

Details about AOCI Components R

Details about AOCI Components Reclassified to Net Income (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Details about AOCI Components Reclassified to Net Income
Revenues	$ 24,690	$ 23,549
Interest expense, net	367	246
Income taxes	(1,016)	(720)
Net income attributable to The Walt Disney Company (Disney)	2,554	1,911
Reclassification out of Accumulated Other Comprehensive Income
Details about AOCI Components Reclassified to Net Income
Net income attributable to The Walt Disney Company (Disney)	42	126
Gain/(loss) in net income from Cash flow hedges | Reclassification out of Accumulated Other Comprehensive Income
Details about AOCI Components Reclassified to Net Income
Revenues	88	140
Income taxes	(21)	(32)
Net income attributable to The Walt Disney Company (Disney)	67	108
Gain/(loss) in net income from Pension and postretirement medical expense | Reclassification out of Accumulated Other Comprehensive Income
Details about AOCI Components Reclassified to Net Income
Interest expense, net	(33)	24
Income taxes	8	(6)
Net income attributable to The Walt Disney Company (Disney)	$ (25)	$ 18

Equity - Additional Information

Equity - Additional Information (Details) - USD ($) shares in Millions, $ in Billions	3 Months Ended
	Dec. 28, 2024	Feb. 07, 2024
Class of Stock [Line Items]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased		400
Treasury Stock, Shares, Acquired	7
Treasury Stock, Value, Acquired, Cost Method	$ 0.8
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	365

Compensation Expense Related to

Compensation Expense Related to Stock Options, Stock Appreciation Rights and Restricted Stock Units (Details) - USD ($) $ in Millions		3 Months Ended
		Dec. 28, 2024	Dec. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options		$ 16	$ 17
RSUs		301	291
Total equity-based compensation expense	[1]	317	308
Equity-based compensation expense capitalized during the period		$ 44	$ 44
[1] Equity-based compensation expense is net of capitalized equity-based compensation and estimated forfeitures and excludes amortization of previously capitalized equity-based compensation costs.

Equity-Based Compensation - Add

Equity-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended
	Jan. 31, 2025	Dec. 30, 2023	Dec. 28, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair values of options issued		$ 32.06
Weighted average grant date fair values of RSUs issued		$ 93.87
Pro Forma | Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair values of options issued	$ 37.98
Weighted average grant date fair values of RSUs issued	$ 109.20
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost			$ 66
Stock Options | Pro Forma | Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation granted, number of shares	2.4
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost			$ 1,500
Restricted Stock Units | Pro Forma | Subsequent Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation granted, number of shares	14.2

Assets and Liabilities Measured

Assets and Liabilities Measured at Fair Value (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Dec. 28, 2024	Sep. 28, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	$ 100	$ 94
Other Liabilities	(634)	(591)
Total	(1,190)	(1,489)
Fair value of borrowings	41,634	43,709
Interest rate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Liabilities	(1,239)	(983)
Foreign exchange
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset	1,127	569
Derivative Liabilities	(527)	(588)
Other Derivative
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset		18
Derivative Liabilities	(17)	(8)
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	0	0
Other Liabilities	0	0
Total	0	0
Fair value of borrowings	0	0
Level 1 | Interest rate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Liabilities	0	0
Level 1 | Foreign exchange
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset	0	0
Derivative Liabilities	0	0
Level 1 | Other Derivative
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset		0
Derivative Liabilities	0	0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	100	94
Other Liabilities	(634)	(591)
Total	(1,190)	(1,489)
Fair value of borrowings	39,433	42,392
Level 2 | Interest rate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Liabilities	(1,239)	(983)
Level 2 | Foreign exchange
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset	1,127	569
Derivative Liabilities	(527)	(588)
Level 2 | Other Derivative
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset		18
Derivative Liabilities	(17)	(8)
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	0	0
Other Liabilities	0	0
Total	0	0
Fair value of borrowings	2,201	1,317
Level 3 | Interest rate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Liabilities	0	0
Level 3 | Foreign exchange
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset	0	0
Derivative Liabilities	0	0
Level 3 | Other Derivative
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset		0
Derivative Liabilities	$ 0	$ 0

Gross Fair Value of Derivative

Gross Fair Value of Derivative Positions (Details) - USD ($) $ in Millions	Dec. 28, 2024	Sep. 28, 2024
Current Assets
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	$ 802	$ 401
Derivative Asset, Counterparty Netting Offset	(618)	(330)
Derivative Asset, Collateral, Obligation to Return Cash, Offset	(74)	(27)
Net derivative positions	110	44
Current Assets | Derivatives designated as hedges | Foreign exchange
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	586	273
Current Assets | Derivatives designated as hedges | Interest rate
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	0	0
Current Assets | Derivatives designated as hedges | Other Derivative
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	0	0
Current Assets | Derivatives not designated as hedges | Foreign exchange
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	216	110
Current Assets | Derivatives not designated as hedges | Other Derivative
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	0	18
Other Assets
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	425	280
Derivative Asset, Counterparty Netting Offset	(239)	(182)
Derivative Asset, Collateral, Obligation to Return Cash, Offset	0	0
Net derivative positions	186	98
Other Assets | Derivatives designated as hedges | Foreign exchange
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	323	184
Other Assets | Derivatives designated as hedges | Interest rate
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	0	0
Other Assets | Derivatives designated as hedges | Other Derivative
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	0	0
Other Assets | Derivatives not designated as hedges | Foreign exchange
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	2	2
Other Assets | Derivatives not designated as hedges | Other Derivative
Derivatives, Fair Value [Line Items]
Derivative Asset, Fair Value, Gross Asset Including Not Subject to Master Netting Arrangement	100	94
Other Current Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	(1,642)	(1,427)
Derivative Liability, Counterparty netting offset	722	396
Derivative Liability, Collateral, Right to Reclaim Cash, Offset	675	679
Net derivative positions	(245)	(352)
Other Current Liabilities | Derivatives designated as hedges | Foreign exchange
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	(176)	(164)
Other Current Liabilities | Derivatives designated as hedges | Interest rate
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	(1,239)	(983)
Other Current Liabilities | Derivatives designated as hedges | Other Derivative
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	(5)	(7)
Other Current Liabilities | Derivatives not designated as hedges | Foreign exchange
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	(210)	(273)
Other Current Liabilities | Derivatives not designated as hedges | Other Derivative
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	(12)	0
Other Long-Term Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	(141)	(152)
Derivative Liability, Counterparty netting offset	135	116
Derivative Liability, Collateral, Right to Reclaim Cash, Offset	0	0
Net derivative positions	(6)	(36)
Other Long-Term Liabilities | Derivatives designated as hedges | Foreign exchange
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	(139)	(149)
Other Long-Term Liabilities | Derivatives designated as hedges | Interest rate
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	0	0
Other Long-Term Liabilities | Derivatives designated as hedges | Other Derivative
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	0	(1)
Other Long-Term Liabilities | Derivatives not designated as hedges | Foreign exchange
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	(2)	(2)
Other Long-Term Liabilities | Derivatives not designated as hedges | Other Derivative
Derivatives, Fair Value [Line Items]
Derivative Liability, Fair Value, Gross Liability Including Not Subject to Master Netting Arrangement	$ 0	$ 0

Derivative Instruments Carrying

Derivative Instruments Carrying Amount and Cumulative Basis Adjustment for Fair Value Hedges (Details) - USD ($) $ in Millions	Dec. 28, 2024	Sep. 28, 2024
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Hedged Liability, Fair Value Hedge	$ 10,369	$ 11,542
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease)	(1,114)	(923)
Current Portion of Borrowings
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Hedged Liability, Fair Value Hedge	495	1,414
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease)	(5)	(10)
Borrowings
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Hedged Liability, Fair Value Hedge	9,874	10,128
Hedged Liability, Fair Value Hedge, Cumulative Increase (Decrease)	$ (1,109)	$ (913)

Adjustments Related to Fair Val

Adjustments Related to Fair Value Hedges Included in Net Interest Expense in Condensed Consolidated Statements of Income (Details) - Interest rate - Interest Expense - USD ($) $ in Millions	3 Months Ended
	Dec. 28, 2024	Dec. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on pay-floating swaps	$ (195)	$ 432
Gain (loss) on hedged borrowings	195	(432)
Derivative, Gain (Loss) on Derivative, Net	$ (111)	$ (154)

Derivative Instruments Effect o

Derivative Instruments Effect of Foreign Currency Cash Flow Hedges on AOCI (Details) - USD ($) $ in Millions		3 Months Ended
		Dec. 28, 2024	Dec. 30, 2023
Foreign Currency Fair Value Hedge Derivative [Line Items]
Unrealized Gain (Loss) on Foreign Currency Derivatives, Net, before Tax		$ 562	$ (264)
Foreign Currency Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	[1]	$ 89	$ 141
[1] Primarily recorded in revenue.

Derivative Instruments - Additi

Derivative Instruments - Additional Information (Details) $ in Millions, $ in Billions	3 Months Ended
	Dec. 28, 2024 USD ($)	Dec. 28, 2024 CAD ($)	Sep. 28, 2024 USD ($)	Sep. 28, 2024 CAD ($)
Derivative [Line Items]
Net deferred gains recorded in AOCI for contracts that will mature in the next twelve months	$ 501
Hedging Period for Foreign Currency Transactions, Maximum	4 years
Aggregate fair value of derivative instruments with credit-risk-related contingent features in a net liability position by counterparty	$ 900		$ 1,100
Costs and Expenses
Derivative [Line Items]
Net gain (loss) on foreign currency denominated assets and liabilities	200
Derivatives designated as hedges | Interest rate | Fair Value Hedging
Derivative [Line Items]
Derivative, Notional Amount	11,000		12,000
Derivatives designated as hedges | Foreign exchange | Cash Flow Hedging
Derivative [Line Items]
Derivative, Notional Amount	8,400		9,900
Derivatives designated as hedges | Currency Swap | Fair Value Hedging
Derivative [Line Items]
Derivative, Notional Amount	900	$ 1.3	1,000	$ 1.3
Not Designated as Hedging Instrument | Foreign exchange
Derivative [Line Items]
Derivative, Notional Amount	2,900		3,400
Not Designated as Hedging Instrument | Other Derivative
Derivative [Line Items]
Derivative, Notional Amount	$ 600		$ 500