Attached files
| file | filename |
|---|---|
| EX-21 - SUBSIDIARIES OF THE COMPANY - WALT DISNEY CO/ | fy2016_q4x10kxex21.htm |
| EX-3.1 - RESTATED CERTIFICATE OF INCORPORATION OF THE REGISTRANT - WALT DISNEY CO/ | fy2016_q4x10kxex31.htm |
| EX-23 - CONSENT OF PRICEWATERHOUSECOOPERS LLP - WALT DISNEY CO/ | fy2016_q4x10kxex23.htm |
| EX-32.A - SECTION 906 CERTIFICATION OF CHIEF EXECUTIVE OFFICER - WALT DISNEY CO/ | fy2016_q4x10kxex32a.htm |
| EX-32.B - SECTION 906 CERTIFICATION OF CHIEF FINANCIAL OFFICER - WALT DISNEY CO/ | fy2016_q4x10kxex32b.htm |
| EX-31.B - SECTION 302 CERTIFICATION OF CHIEF FINANCIAL OFFICER - WALT DISNEY CO/ | fy2016_q4x10kxex31b.htm |
| 10-K - FORM 10-K - WALT DISNEY CO/ | fy2016_q4x10k.htm |
| EX-31.A - SECTION 302 CERTIFICATION OF CHIEF EXECUTIVE OFFICER - WALT DISNEY CO/ | fy2016_q4x10kxex31a.htm |
Exhibit 12.1
THE WALT DISNEY COMPANY
RATIO OF EARNINGS TO FIXED CHARGES
(AMOUNTS IN MILLIONS, EXCEPT RATIOS)
Fiscal Year Ended | |||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||
EARNINGS | |||||||||||||||||||
Income from continuing operations before income taxes | $ | 14,868 | $ | 13,868 | $ | 12,246 | $ | 9,620 | $ | 9,260 | |||||||||
Equity in the income of investees | (926 | ) | (814 | ) | (854 | ) | (688 | ) | (627 | ) | |||||||||
Cash distributions received from equity investees | 799 | 752 | 718 | 694 | 663 | ||||||||||||||
Interest expense, amortization of debt discounts and premiums on all indebtedness and amortization of capitalized interest | 433 | 325 | 360 | 415 | 525 | ||||||||||||||
Imputed interest on operating leases (1) | 282 | 286 | 294 | 292 | 288 | ||||||||||||||
TOTAL EARNINGS | $ | 15,456 | $ | 14,417 | $ | 12,764 | $ | 10,333 | $ | 10,109 | |||||||||
FIXED CHARGES | |||||||||||||||||||
Interest expense and amortization of debt discounts and premiums on all indebtedness | $ | 354 | $ | 265 | $ | 294 | $ | 349 | $ | 472 | |||||||||
Capitalized interest | 139 | 110 | 73 | 77 | 92 | ||||||||||||||
Imputed interest on operating leases (1) | 282 | 286 | 294 | 292 | 288 | ||||||||||||||
TOTAL FIXED CHARGES | $ | 775 | $ | 661 | $ | 661 | $ | 718 | $ | 852 | |||||||||
RATIO OF EARNINGS TO FIXED CHARGES (2) | 19.9 | 21.8 | 19.3 | 14.4 | 11.9 | ||||||||||||||
(1) | The portion of operating rental expense which management believes is representative of the interest component of rent expense. |
(2) | The ratio does not adjust for interest on unrecognized tax benefits that are recorded as a component of income tax expense. |