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The Walt Disney Company Reports Fourth Quarter And Full Year Earnings For Fiscal 2012

Stocks in this article: DIS

Depreciation expense was as follows (in millions):

  Year Ended

Sept. 29,2012


Oct. 1,2011

Media Networks
Cable Networks $ 141 $ 134
Broadcasting   100   95
Total Media Networks   241   229
Parks and Resorts
Domestic 927 842
International   314   323
Total Parks and Resorts   1,241   1,165
Studio Entertainment 48 53
Consumer Products 55 48
Interactive 17 16
Corporate   182   148
Total depreciation expense $ 1,784 $ 1,659


Total borrowings and net borrowings are detailed below (in millions):


Sept. 29,2012


Oct. 1,2011

Current portion of borrowings $ 3,614 $ 3,055 $ 559
Long-term borrowings   10,697     10,922     (225 )
Total borrowings 14,311 13,977 334
Less: cash and cash equivalents   (3,387 )   (3,185 )   (202 )
Net borrowings (1) $ 10,924   $ 10,792   $ 132  

(1) Net borrowings is a non-GAAP financial measure. See the discussion of non-GAAP financial measures that follows.

The total borrowings shown above include $267 million and $2,311 million attributable to our consolidated international theme parks as of September 29, 2012 and October 1, 2011, respectively. Cash and cash equivalents attributable to our consolidated international theme parks totaled $548 million and $778 million as of September 29, 2012 and October 1, 2011, respectively.

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