DIS » Topics » Net Interest Expense

This excerpt taken from the DIS 8-K filed Feb 9, 2010.

Net Interest Expense

Net interest expense was as follows (in millions):

 

     Quarter Ended  
     Jan. 2,
2010
    Dec. 27,
2008
 

Interest expense

   $ (118   $ (168

Interest and investment income

     15        29   
                

Net interest expense

   $ (103   $ (139
                

The decrease in net interest expense for the quarter was primarily due to lower average debt balances.

 

5


These excerpts taken from the DIS 10-K filed Dec 2, 2009.

Net Interest Expense

Net interest expense is detailed below:

 

(in millions)                                    

   2009    2008    % Change
Better/(Worse)
 

Interest expense

     $         (588)          $         (712)        17    

Interest and investment income

     122           188         (35)   
                

Net interest expense

     $         (466)          $         (524)        11    
                

The decrease in interest expense and interest and investment income for the year was driven by lower effective interest rates.

Net Interest Expense

Net interest expense is detailed below:

 

(in millions)                                                                             

   2008    2007    % Change
Better/(Worse)
 

Interest expense

     $         (712)          $         (746)        5    

Interest and investment income

     188           153         23    
                

Net interest expense

     $ (524)          $ (593)        12    
                

Net interest expense decreased 12% for the year driven by lower effective interest rates and a gain on the sale of an investment, partially offset by higher average debt balances.

This excerpt taken from the DIS 8-K filed Nov 12, 2009.

Net Interest Expense

Net interest expense was as follows (in millions):

 

     Year Ended     Quarter Ended  
     Oct. 3,
2009
    Sept. 27,
2008
    Oct. 3,
2009
    Sept. 27,
2008
 

Interest expense

   $ (588   $ (712   $ (136   $ (149

Interest and investment income

     122        188        12        36   
                                

Net interest expense

   $ (466   $ (524   $ (124   $ (113
                                

The decrease in interest expense for the year and quarter was driven by lower effective interest rates.

The decrease in interest and investment income for the year and quarter was driven by lower effective interest rates.

This excerpt taken from the DIS 8-K filed Jul 30, 2009.

Net Interest Expense

Net interest expense was as follows (in millions):

 

     Quarter Ended  
     June 27,
2009
    June 28,
2008
 

Interest expense

   $ (134   $ (161

Interest and investment income

     59        20   
                

Net interest expense

   $ (75   $ (141
                

The decrease in interest expense for the quarter was due to lower effective interest rates.

The increase in interest and investment income for the quarter was due to a gain on the sale of an investment.

This excerpt taken from the DIS 10-Q filed May 5, 2009.

Net Interest Expense

Net interest expense is as follows:

 

     Quarter Ended         Six Months Ended     
(in millions)      March 28,  
2009
     March 29,  
2008
     Change        March 28,  
2009
     March 29,  
2008
     Change  

Interest expense

     $ (150)          $ (186)        19   %          $ (318)          $ (402)        21   %    

Interest and investment income

     22           39         (44)  %          51           132         (61)  %    
                                 

Net interest expense

     $ (128)          $ (147)        13   %          $ (267)          $ (270)        1   %    
                                 

The decrease in interest expense for the quarter and six months was primarily due to lower effective interest rates.

Interest and investment income for the quarter decreased primarily due to lower effective interest rates. Interest and investment income for the six months decreased as the prior-year quarter included a gain on the sale of an investment and a recovery in connection with the Company’s leveraged lease investment with Delta Air Lines which had been written off previously.

 

32


MANAGEMENT’S DISCUSSION AND ANALYSIS OF

FINANCIAL CONDITION AND RESULTS OF OPERATIONS – (continued)

 

This excerpt taken from the DIS 8-K filed May 5, 2009.

Net Interest Expense

Net interest expense was as follows (in millions):

 

     Quarter Ended  
     March 28,
2009
    March 29,
2008
 

Interest expense

   $ (150 )   $ (186 )

Interest and investment income

     22       39  
                

Net interest expense

   $ (128 )   $ (147 )
                

The decrease in net interest expense for the quarter was primarily due to lower effective interest rates.

 

5


This excerpt taken from the DIS 8-K filed Feb 3, 2009.

Net Interest Expense

Net interest expense was as follows (in millions):

 

     Quarter Ended  
     Dec. 27,
2008
    Dec. 29,
2007
 

Interest expense

   $ (168 )   $ (216 )

Interest and investment income

     29       93  
                

Net interest expense

   $ (139 )   $ (123 )
                

The decrease in interest expense for the quarter was primarily due to lower effective interest rates.

Interest and investment income for the quarter decreased as the prior-year quarter included a gain related to the sale of an investment and a recovery in connection with the Company’s leveraged lease investment with Delta Air Lines which had been written off previously.

This excerpt taken from the DIS 10-Q filed Feb 3, 2009.

Net Interest Expense

Net interest expense is as follows:

 

(in millions)

   Quarter Ended            
       December 27,    
2008
        December 29,    
2007
        Change    

Interest expense

   $ (168 )   $ (216 )   (22 )   %

Interest and investment income

     29       93     (69 )   %
                    

Net interest expense

   $ (139 )   $ (123 )   13     %
                    

The decrease in interest expense for the quarter was primarily due to lower effective interest rates.

Interest and investment income for the quarter decreased as the prior-year quarter included a gain on the sale of an investment and a recovery in connection with the Company’s leveraged lease investment with Delta Air Lines which had been written off previously.

This excerpt taken from the DIS 8-K filed Feb 3, 2009.

Net Interest Expense

Net interest expense is detailed below:

 

(in millions)

   2007     2006     % change  

Interest expense

   $ (746 )   $ (706 )   6 %

Interest and investment income

     153       114     34 %
                  

Net interest expense

   $ (593 )   $ (592 )   —   %
                  

Net interest expense was relatively flat as an increase in interest expense, primarily due to higher effective interest rates at Hong Kong Disneyland, was offset by higher interest and investment income reflecting higher average cash balances.

These excerpts taken from the DIS 10-K filed Nov 20, 2008.

Net Interest Expense

STYLE="margin-top:12px;margin-bottom:0px; text-indent:5%">Net interest expense is detailed below:











































































































(in
millions)                                    

  2008     2007       % change 

Interest expense

    $        (712)          $        (746)          (5)   %

Interest and investment income

   188          153           23    %
                

Net interest expense

    $        (524)          $        (593)          (12)   %
                

Net interest expense decreased 12% for the year driven by lower effective interest rates and a
gain on the sale of an investment, partially offset by higher average debt balances.

Net Interest Expense

Net interest expense is detailed below:

 

(in millions)

     2007      2006      % change  
              

Interest expense

      $         (746)           $         (706)          6     %

Interest and investment income

       153             114           34     %
                      

Net interest expense

      $ (593)           $ (592)          —     %
                      

Net interest expense was relatively flat as an increase in interest expense, primarily due to higher effective interest rates at Hong Kong Disneyland, was offset by higher interest and investment income reflecting higher average cash balances.

This excerpt taken from the DIS 8-K filed Nov 6, 2008.

Net Interest Expense

Net interest expense was as follows (in millions):

 

     Year Ended     Quarter Ended  
     Sept. 27,
2008
    Sept. 29,
2007
    Sept. 27,
2008
    Sept. 29,
2007
 

Interest expense

   $ (712 )   $ (746 )   $ (149 )   $ (208 )

Interest and investment income

     188       153       36       45  
                                

Net interest expense

   $ (524 )   $ (593 )   $ (113 )   $ (163 )
                                

The decrease in interest expense for the year was driven by lower effective interest rates, partially offset by higher average debt balances. For the quarter, the decrease in interest expense was primarily due to lower effective interest rates and lower average debt balances.

The increase in interest and investment income for the year was primarily due to a gain on the sale of an investment. The decrease in interest and investment income for the quarter was primarily due to lower average cash balances.

This excerpt taken from the DIS 8-K filed Jul 30, 2008.

Net Interest Expense

Net interest expense was as follows (in millions):

 

     Quarter Ended
         June 28,    
2008
       June 30,    
2007

Interest expense

     $ (161)          $ (183)    

Interest and investment income

     20            40      
             

Net interest expense

     $ (141)          $ (143)    
             

The decrease in interest expense for the quarter was primarily due to lower effective interest rates.

The decrease in interest and investment income for the quarter reflected a $13 million investment impairment.

This excerpt taken from the DIS 10-Q filed Jul 30, 2008.

Net Interest Expense

Net interest expense is as follows:

 

(in millions)    Quarter Ended         Change        Nine Months Ended         Change    
       June 28,    
2008
        June 30,    
2007
           June 28,    
2008
        June 30,    
2007
   

Interest expense

   $ (161 )   $ (183 )   (12 )   %    $ (563 )   $ (538 )   5     %

Interest and investment income

     20       40     (50 )   %      152       108     41     %
                                         

Net interest expense

   $ (141 )   $ (143 )   (1 )   %    $ (411 )   $ (430 )   (4 )   %
                                         

The decrease in interest expense for the quarter was primarily due to lower effective interest rates while the increase in interest expense for the nine months was primarily due to higher average debt balances.

The decrease in interest and investment income for the quarter reflected a $13 million investment impairment. The increase in interest and investment income for the nine months was primarily due to a gain on the sale of an investment.

 

28


MANAGEMENT’S DISCUSSION AND ANALYSIS OF

FINANCIAL CONDITION AND RESULTS OF OPERATIONS — (continued)

 

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