dis-20231018

Exhibit 99.1

SEGMENT REPORTING CHANGES

This document provides summary recast segment financial information for the nine months ended July 1, 2023, fiscal year 2022 and fiscal year 2021 to reflect the following changes (which have no impact on our historically reported net income or earnings per share):

Media and Entertainment Reorganization

In February 2023, the Company announced that, to restore creativity to the center of our business, we will reorganize our media and entertainment businesses, which have been previously reported in one segment, Disney Media and Entertainment Distribution. As a result of the reorganization, effective with the fourth quarter of fiscal 2023, the financial results of the media and entertainment businesses will be reported in two segments, Entertainment and Sports, thereby providing increased transparency by giving incremental detail on our linear networks and sports businesses.

Consumer Products Revenue Share

Under our new segment financial reporting, the Entertainment segment will receive an intersegment allocation of revenues from the consumer products business, which is included in the Experiences segment (renamed from Disney Parks, Experiences and Products). This revenue allocation, which is now consistent with the approach taken prior to our last segment reporting changes in 2020, is meant to reflect royalties on merchandise licensing revenues generated on intellectual property (IP) created by the Entertainment segment, more consistent with certain of our industry peers and reflective of the value this IP brings to our consumer products business.


TABLE OF CONTENTS			Page
• Significant Operations and Major Revenue and Expense Categories by Segment			2 - 4
• Summary of Segment Reporting Changes			5 - 6
• Summary Recast Quarterly Segment Results for the nine months ended July 1, 2023 and fiscal year 2022			7 - 14

SIGNIFICANT OPERATIONS AND MAJOR REVENUE AND EXPENSE CATEGORIES BY SEGMENT

Entertainment

The Entertainment segment generally encompasses the Company’s non-sports focused global film, television and direct-to-consumer (DTC) video streaming content production and distribution activities.

The significant lines of business within Entertainment are as follows:

•Linear Networks

◦Domestic: ABC Television Network (ABC Network); Disney, Freeform, FX and National Geographic (owned 73% by the Company) branded television channels; and eight owned ABC television stations

◦International: Disney, Fox (will rebranded in fiscal 2024), FX, National Geographic (owned 73% by the Company) and Star branded general entertainment television networks outside of the U.S.

◦A 50% equity investment in A+E Television Networks (A+E), which operates cable channels including A&E, HISTORY and Lifetime

•Direct-to-Consumer includes the following DTC services:

◦Disney+ (including Star+ in Latin America, which includes general entertainment and sports programming)

◦Hulu (owned 67% by the Company and 33% by NBC Universal)

◦Disney+ Hotstar, which includes general entertainment and sports programming

•Content Sales/Licensing

◦Sale/licensing of film and television content to third-party television and subscription/advertising video-on-demand (TV/SVOD) services

◦Theatrical distribution

◦Staging and licensing of live entertainment events on Broadway and around the world

◦Home entertainment distribution: DVD and Blu-ray discs, electronic home video licenses and video-on-demand (VOD) rentals

◦Intersegment allocation of revenues from the Experiences segment, which is meant to reflect royalties on consumer products merchandise licensing revenues generated on intellectual property (“IP”) created by the Entertainment segment

◦Music distribution

◦Post-production services by Industrial Light & Magic and Skywalker Sound

Entertainment also includes the following activities that are reported with Content Sales/Licensing:

◦National Geographic magazine and online business

◦A 30% ownership interest in Tata Play Limited, which operates a direct-to-home satellite distribution platform in India

The significant revenues of Entertainment are as follows:

•Affiliate Fees - Fees charged to multi-channel video programming distributors (i.e. cable, satellite, telecommunications and digital over-the-top (e.g. YouTube TV) service providers) (MVPDs) for the right to deliver our programming to their customers. Linear Networks also generates revenues from fees charged to television stations affiliated with ABC Network.

•Subscription Fees - Fees charged to customers/subscribers for our DTC streaming services

•Advertising - Sales of advertising time/space

•TV/SVOD distribution - Licensing fees and other revenue for the right to use our film and television content

•Theatrical distribution - Rentals from licensing our film productions to theaters

•Home entertainment distribution - Sales and rentals of our film and television content to retailers and through distributors

•Other revenue - Revenues from licensing our music, ticket sales from stage play performances, fees from licensing our IP for use in stage plays, sales of post-production services and the allocation of consumer products merchandise licensing revenues

The significant expenses of Entertainment are as follows:

•Operating expenses, consisting primarily of programming and production costs, technical support costs, operating labor, distribution costs and costs of sales. Programming and production costs include the following:

◦Amortization of capitalized production costs

◦Amortization of licensed programming rights

◦Subscriber-based fees for programming our Hulu Live service, including fees paid by Hulu to the Sports segment and other Entertainment segment businesses for the right to air their linear networks on Hulu Live

◦Production costs related to live programming (primarily news)

◦Amortization of participations and residual obligations

◦Fees paid to the Sports segment to program ESPN on ABC and certain sports content on Star+

•Selling, general and administrative costs, including marketing costs

•Depreciation and amortization

Sports

The Sports segment generally encompasses the Company’s sports-focused global television and DTC video streaming content production and distribution activities.

The significant lines of business within Sports are as follows:

•ESPN (generally owned 80% by the Company)

◦Domestic:

▪Eight ESPN branded television channels

▪ESPN on ABC (sports programmed on the ABC Network by ESPN)

▪ESPN+ DTC video streaming service

◦International: ESPN branded channels outside of the U.S.

•Star: Star-branded sports channels in India

The significant revenues of Sports are as follows:

•Affiliate Fees

•Advertising

•Subscription Fees

•Other revenue - Fees from the following activities: pay-per-view events on ESPN+, programming ESPN on ABC, sub-licensing of sports rights, and licensing the ESPN brand

The significant expenses of Sports are as follows:

•Operating expenses, consisting primarily of programming and production costs, technical support costs, operating labor and distribution costs. Programming and production costs include amortization of licensed sports rights and production costs related to live sports and other sports-related programming.

•Selling, general and administrative costs, including marketing costs

•Depreciation and amortization

Experiences

The significant lines of business within Experiences are as follows:

•Parks & Experiences:

◦Domestic:

▪Theme parks and resorts:

•Walt Disney World Resort in Florida

•Disneyland Resort in California

▪Various other lines of business including: Disney Cruise Line, Disney Vacation Club, National Geographic Expeditions (owned 73% by the Company), Adventures by Disney and Aulani, a Disney Resort & Spa in Hawaii

◦International:

▪Theme parks and resorts:

•Disneyland Paris

•Hong Kong Disneyland Resort (48% ownership interest and consolidated in our financial results)

•Shanghai Disney Resort (43% ownership interest and consolidated in our financial results)

•In addition, the Company licenses its IP to a third party to operate Tokyo Disney Resort

•Consumer Products:

◦Licensing of our trade names, characters, visual, literary and other IP to various manufacturers, game developers, publishers and retailers throughout the world, for use on merchandise, published materials and games

◦Sale of branded merchandise through retail, online and wholesale businesses, and development and publishing of books, comic books and magazines (except National Geographic magazine, which is reported in Entertainment)

The significant revenues of Experiences are as follows:

•Theme park admissions - Sales of tickets for admission to our theme parks and for premium access to certain attractions (e.g. Genie+ and Lightning Lane)

•Parks & Experiences merchandise, food and beverage - Sales of merchandise, food and beverages at our theme parks and resorts and cruise ships

•Resorts and vacations - Sales of room nights at hotels, sales of cruise and other vacations and sales and rentals of vacation club properties

•Merchandise licensing and retail:

◦Merchandise licensing - Royalties from licensing our IP for use on consumer goods

◦Retail - Sales of merchandise at internet shopping sites generally branded shopDisney and at The Disney Store, as well as to wholesalers (including books, comic books and magazines)

•Parks licensing and other - Revenues from sponsorships and co-branding opportunities, real estate rent and sales and royalties on Tokyo Disney Resort revenues

The significant expenses of Experiences are as follows:

•Operating expenses, consisting primarily of operating labor, costs of goods sold, infrastructure costs, supplies, commissions and entertainment offerings. Infrastructure costs include technology support costs, repairs and maintenance, property taxes, utilities and fuel, retail occupancy costs, insurance and transportation

•Selling, general and administrative costs, including marketing costs

•Depreciation and amortization

Eliminations

To reconcile segment revenues to total Company revenues, we eliminate certain transactions between the Sports segment and Entertainment segment and between Entertainment segment businesses, which reflect the following:

•Fees paid by Hulu to the Sports segment and other Entertainment segment businesses for the right to air their linear networks on Hulu Live

•Fees paid by the Entertainment segment to the Sports segment to program ESPN on ABC and certain sports content on Star+

SUMMARY OF SEGMENT REPORTING CHANGES

The following tables present reconciliations of previously reported segment results to the recast segment results reflecting (1) the reorganization of media and entertainment businesses into the Entertainment and Sports segments and (2) an intersegment allocation of revenues from consumer products.

The reconciliation of previously reported segment results for the nine months ended July 1, 2023 to the recast segment results for the nine months ended July 1, 2023 is as follows:


(unaudited; in millions)	As Originally Reported		Reorganization of Media and Entertainment Businesses		Intersegment Allocation of Revenue from Consumer Products		Eliminations		As Recast
Revenues:
Entertainment(1)
Linear Networks	$	20,608	$	(11,535)	$	—	$	—	$	9,073
Direct-to-Consumer	16,346		(1,496)		—		—		14,850
Content Sales/Licensing and Other	6,739		—		449		—		7,188
Eliminations	(874)		—		—		874		—
Entertainment(1)	42,819		(13,031)		449		874		31,111
Sports	—		13,031		—		170		13,201
Experiences(2)	24,838		—		(449)		—		24,389
Eliminations	—		—		—		(1,044)		(1,044)


Segment operating income (loss):
Entertainment(1)
Linear Networks	$	4,972	$	(1,658)	$	—	$	—	$	3,314
Direct-to-Consumer	(2,224)		148		—		—		(2,076)
Content Sales/Licensing and Other	(505)		26		449		—		(30)

Entertainment(1)	2,243		(1,484)		449		—		1,208
Sports	—		1,484		—		—		1,484

Experiences(2)	7,644		—		(449)		—		7,195

(1)Originally reported as Disney Media and Entertainment Distribution

(2)Originally reported as Disney Parks, Experiences and Products

The reconciliation of previously reported segment results for fiscal year 2022 to the recast segment results for fiscal year 2022 is as follows:


(unaudited; in millions)	As Originally Reported		Reorganization of Media and Entertainment Businesses		Intersegment Allocation of Revenue from Consumer Products		Eliminations		As Recast
Revenues:
Entertainment(1)
Linear Networks	$	28,346	$	(15,518)	$	—	$	—	$	12,828
Direct-to-Consumer	19,558		(1,583)		—		—		17,975
Content Sales/Licensing and Other	8,146		—		620		—		8,766
Eliminations	(1,010)		—		—		1,010		—
Entertainment(1)	55,040		(17,101)		620		1,010		39,569
Sports	—		17,101		—		169		17,270
Experiences(2)	28,705		—		(620)		—		28,085
Eliminations	—		—		—		(1,179)		(1,179)


Segment operating income (loss):
Entertainment(1)
Linear Networks	$	8,518	$	(3,320)	$	—	$	—	$	5,198
Direct-to-Consumer	(4,015)		591		—		—		(3,424)
Content Sales/Licensing and Other	(287)		19		620		—		352

Entertainment(1)	4,216		(2,710)		620		—		2,126
Sports	—		2,710		—		—		2,710

Experiences(2)	7,905		—		(620)		—		7,285

(1)Originally reported as Disney Media and Entertainment Distribution

(2)Originally reported as Disney Parks, Experiences and Products

The reconciliation of previously reported segment results for fiscal year 2021 to the recast segment results for fiscal year 2021 is as follows:


(unaudited; in millions)	As Originally Reported		Reorganization of Media and Entertainment Businesses		Intersegment Allocation of Revenue from Consumer Products		Eliminations		As Recast
Revenues:
Entertainment(1)
Linear Networks	$	28,093	$	(14,577)	$	—	$	—	$	13,516
Direct-to-Consumer	16,319		(1,283)		—		—		15,036
Content Sales/Licensing and Other	7,346		—		591		—		7,937
Eliminations	(892)		—		—		892		—
Entertainment(1)	50,866		(15,860)		591		892		36,489
Sports	—		15,860		—		100		15,960
Experiences(2)	16,552		—		(591)		—		15,961
Eliminations	—		—		—		(992)		(992)


Segment operating income (loss):
Entertainment(1)
Linear Networks	$	8,407	$	(3,136)	$	—	$	—	$	5,271
Direct-to-Consumer	(1,679)		427		—		—		(1,252)
Content Sales/Licensing and Other	567		19		591		—		1,177

Entertainment(1)	7,295		(2,690)		591		—		5,196
Sports	—		2,690		—		—		2,690

Experiences(2)	471		—		(591)		—		(120)

(1)Originally reported as Disney Media and Entertainment Distribution

(2)Originally reported as Disney Parks, Experiences and Products

SUMMARY RECAST QUARTERLY SEGMENT RESULTS FOR THE NINE MONTHS ENDED JULY 1, 2023

The following is a summary of quarterly segment revenues and operating income (loss) presented under the new segment reporting structure for the nine months ended July 1, 2023:


	Quarter Ended						Nine Months Ended July 1, 2023
(unaudited; in millions)	Dec. 31, 2022		April 1, 2023		July 1, 2023
Revenues:
Entertainment	$	10,675	$	10,309	$	10,127	$	31,111
Sports	4,640		4,226		4,335		13,201
Experiences	8,545		7,646		8,198		24,389
Eliminations	(348)		(366)		(330)		(1,044)


Segment operating income (loss):
Entertainment	$	345	$	455	$	408	$	1,208
Sports	(164)		794		854		1,484
Experiences	2,862		2,036		2,297		7,195

Entertainment

Revenue and operating income (loss) for the Entertainment segment are as follows:


	Quarter Ended						Nine Months Ended July 1, 2023
(unaudited; in millions)	Dec. 31, 2022		April 1, 2023		July 1, 2023
Revenues:
Linear Networks	$	3,202	$	2,999	$	2,872	$	9,073
Direct-to-Consumer	4,822		4,983		5,045		14,850
Content Sales/Licensing and Other	2,651		2,327		2,210		7,188
	$	10,675	$	10,309	$	10,127	$	31,111

Operating income (loss):
Linear Networks	$	1,330	$	959	$	1,025	$	3,314
Direct-to-Consumer	(984)		(587)		(505)		(2,076)
Content Sales/Licensing and Other	(1)		83		(112)		(30)
	$	345	$	455	$	408	$	1,208

Operating results for Linear Networks are as follows:


	Quarter Ended						Nine Months Ended July 1, 2023
(unaudited; in millions)	Dec. 31, 2022		April 1, 2023		July 1, 2023
Revenues:
Affiliate fees	$	1,873	$	1,925	$	1,833	$	5,631
Advertising	1,267		1,031		1,005		3,303
Other	62		43		34		139
Total revenues	3,202		2,999		2,872		9,073
Operating expenses	(1,462)		(1,515)		(1,331)		(4,308)
Selling, general, administrative and other	(591)		(672)		(677)		(1,940)
Depreciation and amortization	(12)		(12)		(15)		(39)
Equity in the income of investees	193		159		176		528
Operating income	$	1,330	$	959	$	1,025	$	3,314

Operating results for Direct-to-Consumer are as follows:


	Quarter Ended						Nine Months Ended July 1, 2023
(unaudited; in millions)	Dec. 31, 2022		April 1, 2023		July 1, 2023
Revenues:
Subscription fees	$	3,861	$	4,225	$	4,157	$	12,243
Advertising	866		706		839		2,411
TV/SVOD distribution and other	95		52		49		196
Total revenues	4,822		4,983		5,045		14,850
Operating expenses	(4,623)		(4,530)		(4,490)		(13,643)
Selling, general, administrative and other	(1,087)		(955)		(991)		(3,033)
Depreciation and amortization	(96)		(85)		(69)		(250)
Operating loss	$	(984)	$	(587)	$	(505)	$	(2,076)

Operating results for Content Sales/Licensing and Other are as follows:


	Quarter Ended						Nine Months Ended July 1, 2023
(unaudited; in millions)	Dec. 31, 2022		April 1, 2023		July 1, 2023
Revenues:
TV/SVOD distribution	$	713	$	790	$	560	$	2,063
Theatrical distribution	1,140		767		838		2,745
Home entertainment distribution	185		202		252		639
Other	613		568		560		1,741
Total revenues	2,651		2,327		2,210		7,188
Operating expenses	(1,850)		(1,612)		(1,469)		(4,931)
Selling, general, administrative and other	(722)		(550)		(752)		(2,024)
Depreciation and amortization	(80)		(83)		(99)		(262)
Equity in the income (loss) of investees	—		1		(2)		(1)
Operating income (loss)	$	(1)	$	83	$	(112)	$	(30)

Sports

Operating results for the Sports segment are as follows:


	Quarter Ended						Nine Months Ended July 1, 2023
(unaudited; in millions)	Dec. 31, 2022		April 1, 2023		July 1, 2023
Revenues:
Affiliate fees	$	2,653	$	2,766	$	2,633	$	8,052
Advertising	1,262		781		1,153		3,196
Subscription fees	379		380		380		1,139
Other	346		299		169		814
Total revenues	4,640		4,226		4,335		13,201
Operating expenses	(4,501)		(3,072)		(3,164)		(10,737)
Selling, general, administrative and other	(296)		(357)		(312)		(965)
Depreciation and amortization	(10)		(19)		(25)		(54)
Equity in the income of investees	3		16		20		39
Operating income (loss)	$	(164)	$	794	$	854	$	1,484

The following table provides supplemental revenue and operating income (loss) detail for Sports:


	Quarter Ended						Nine Months Ended July 1, 2023
(unaudited; in millions)	Dec. 31, 2022		April 1, 2023		July 1, 2023
Supplemental revenue detail
ESPN
Domestic	$	4,049	$	3,733	$	3,708	$	11,490
International	358		366		350		1,074
	4,407		4,099		4,058		12,564
Star (India)	233		127		277		637
	$	4,640	$	4,226	$	4,335	$	13,201

Supplemental operating income (loss) detail
ESPN
Domestic	$	(41)	$	858	$	1,077	$	1,894
International	3		19		(27)		(5)
	(38)		877		1,050		1,889
Star (India)	(129)		(99)		(216)		(444)
Equity in the income of investees	3		16		20		39
	$	(164)	$	794	$	854	$	1,484

Experiences

Operating results for the Experiences segment are as follows:


	Quarter Ended						Nine Months Ended July 1, 2023
(unaudited; in millions)	Dec. 31, 2022		April 1, 2023		July 1, 2023
Revenues:
Theme park admissions	$	2,641	$	2,428	$	2,731	$	7,800
Parks & Experiences merchandise, food and beverage	1,980		1,903		1,963		5,846
Resorts and vacations	1,980		1,949		1,990		5,919
Merchandise licensing and retail	1,355		881		1,010		3,246
Parks licensing and other	589		485		504		1,578
Total revenues	8,545		7,646		8,198		24,389
Operating expenses	(4,139)		(4,106)		(4,279)		(12,524)
Selling, general, administrative and other	(899)		(853)		(900)		(2,652)
Depreciation and amortization	(643)		(651)		(722)		(2,016)
Equity in the income (loss) of investees	(2)		—		—		(2)
Operating income	$	2,862	$	2,036	$	2,297	$	7,195

The following table provides supplemental revenue and operating income detail for Experiences:


	Quarter Ended						Nine Months Ended July 1, 2023
(unaudited; in millions)	Dec. 31, 2022		April 1, 2023		July 1, 2023
Supplemental revenue detail
Parks & Experiences
Domestic	$	6,072	$	5,572	$	5,649	$	17,293
International	1,094		1,184		1,532		3,810
Consumer Products	1,379		890		1,017		3,286
	$	8,545	$	7,646	$	8,198	$	24,389

Supplemental operating income detail
Parks & Experiences
Domestic	$	2,113	$	1,519	$	1,436	$	5,068
International	79		156		428		663
Consumer Products	670		361		433		1,464
	$	2,862	$	2,036	$	2,297	$	7,195

SUMMARY RECAST FISCAL 2022 QUARTERLY SEGMENT RESULTS

The following is a summary of quarterly fiscal 2022 segment revenues and operating income (loss) presented under the new segment reporting structure:


	Quarter Ended								Year Ended Oct. 1, 2022
(unaudited; in millions)	Jan. 1, 2022		April 2, 2022		July 2, 2022		October 1, 2022
Revenues:
Entertainment	$	10,348	$	9,890	$	10,037	$	9,294	$	39,569
Sports	4,678		4,215		4,477		3,900		17,270
Experiences	7,082		6,505		7,245		7,253		28,085
Eliminations	(289)		(338)		(255)		(297)		(1,179)


Segment operating income (loss):
Entertainment	$	1,273	$	880	$	581	$	(608)	$	2,126
Sports	(313)		1,211		949		863		2,710
Experiences	2,298		1,608		2,037		1,342		7,285

Entertainment

Revenue and operating income (loss) for the Entertainment segment are as follows:


	Quarter Ended								Year Ended Oct. 1, 2022
(unaudited; in millions)	Jan. 1, 2022		April 2, 2022		July 2, 2022		October 1, 2022
Revenues:
Linear Networks	$	3,440	$	3,368	$	3,128	$	2,892	$	12,828
Direct-to-Consumer	4,323		4,509		4,649		4,494		17,975
Content Sales/Licensing and Other	2,585		2,013		2,260		1,908		8,766
	$	10,348	$	9,890	$	10,037	$	9,294	$	39,569

Operating income (loss):
Linear Networks	$	1,604	$	1,388	$	1,400	$	806	$	5,198
Direct-to-Consumer	(388)		(683)		(947)		(1,406)		(3,424)
Content Sales/Licensing and Other	57		175		128		(8)		352
	$	1,273	$	880	$	581	$	(608)	$	2,126

Operating results for Linear Networks are as follows:


	Quarter Ended								Year Ended Oct. 1, 2022
(unaudited; in millions)	Jan. 1, 2022		April 2, 2022		July 2, 2022		October 1, 2022
Revenues:
Affiliate fees	$	1,937	$	2,063	$	1,915	$	1,824	$	7,739
Advertising	1,421		1,261		1,162		1,033		4,877
Other	82		44		51		35		212
Total revenues	3,440		3,368		3,128		2,892		12,828
Operating expenses	(1,499)		(1,533)		(1,342)		(1,403)		(5,777)
Selling, general, administrative and other	(560)		(638)		(574)		(799)		(2,571)
Depreciation and amortization	(16)		(15)		(18)		(16)		(65)
Equity in the income of investees	239		206		206		132		783
Operating income	$	1,604	$	1,388	$	1,400	$	806	$	5,198

Operating results for Direct-to-Consumer are as follows:


	Quarter Ended								Year Ended Oct. 1, 2022
(unaudited; in millions)	Jan. 1, 2022		April 2, 2022		July 2, 2022		October 1, 2022
Revenues:
Subscription fees	$	3,348	$	3,614	$	3,608	$	3,608	$	14,178
Advertising	947		858		991		818		3,614
TV/SVOD distribution and other	28		37		50		68		183
Total revenues	4,323		4,509		4,649		4,494		17,975
Operating expenses	(3,439)		(3,897)		(4,086)		(4,219)		(15,641)
Selling, general, administrative and other	(1,189)		(1,200)		(1,425)		(1,581)		(5,395)
Depreciation and amortization	(83)		(95)		(85)		(100)		(363)
Operating loss	$	(388)	$	(683)	$	(947)	$	(1,406)	$	(3,424)

Operating results for Content Sales/Licensing and Other are as follows:


	Quarter Ended								Year Ended Oct. 1, 2022
(unaudited; in millions)	Jan. 1, 2022		April 2, 2022		July 2, 2022		October 1, 2022
Revenues:
TV/SVOD distribution	$	1,106	$	906	$	883	$	625	$	3,520
Theatrical distribution	529		224		620		502		1,875
Home entertainment distribution	385		305		201		192		1,083
Other	565		578		556		589		2,288
Total revenues	2,585		2,013		2,260		1,908		8,766
Operating expenses	(1,629)		(1,228)		(1,415)		(1,236)		(5,508)
Selling, general, administrative and other	(833)		(533)		(643)		(601)		(2,610)
Depreciation and amortization	(69)		(74)		(76)		(77)		(296)
Equity in the income (loss) of investees	3		(3)		2		(2)		—
Operating income (loss)	$	57	$	175	$	128	$	(8)	$	352

Sports

Operating results for the Sports segment are as follows:


	Quarter Ended								Year Ended Oct. 1, 2022
(unaudited; in millions)	Jan. 1, 2022		April 2, 2022		July 2, 2022		October 1, 2022
Revenues:
Affiliate fees	$	2,678	$	2,804	$	2,670	$	2,644	$	10,796
Advertising	1,451		855		1,335		729		4,370
Subscription fees	250		273		281		309		1,113
Other	299		283		191		218		991
Total revenues	4,678		4,215		4,477		3,900		17,270
Operating expenses	(4,681)		(2,633)		(3,205)		(2,565)		(13,084)
Selling, general, administrative and other	(288)		(362)		(325)		(466)		(1,441)
Depreciation and amortization	(25)		(24)		(20)		(21)		(90)
Equity in the income of investees	3		15		22		15		55
Operating income (loss)	$	(313)	$	1,211	$	949	$	863	$	2,710

The following table provides supplemental revenue and operating income (loss) detail for Sports:


	Quarter Ended								Year Ended Oct. 1, 2022
(unaudited; in millions)	Jan. 1, 2022		April 2, 2022		July 2, 2022		October 1, 2022
Supplemental revenue detail
ESPN
Domestic	$	3,944	$	3,629	$	3,636	$	3,427	$	14,636
International	352		363		362		357		1,434
	4,296		3,992		3,998		3,784		16,070
Star (India)	382		223		479		116		1,200
	$	4,678	$	4,215	$	4,477	$	3,900	$	17,270

Supplemental operating income (loss) detail
ESPN
Domestic	$	(286)	$	1,230	$	1,020	$	850	$	2,814
International	78		20		(1)		(19)		78
	(208)		1,250		1,019		831		2,892
Star (India)	(108)		(54)		(92)		17		(237)
Equity in the income of investees	3		15		22		15		55
	$	(313)	$	1,211	$	949	$	863	$	2,710

Experiences

Operating results for the Experiences segment are as follows:


	Quarter Ended								Year Ended Oct. 1, 2022
(unaudited; in millions)	Jan. 1, 2022		April 2, 2022		July 2, 2022		October 1, 2022
Revenues:
Theme park admissions	$	2,152	$	1,973	$	2,312	$	2,165	$	8,602
Parks & Experiences merchandise, food and beverage	1,626		1,515		1,688		1,750		6,579
Resorts and vacations	1,445		1,451		1,805		1,709		6,410
Merchandise licensing and retail	1,411		1,017		1,026		1,155		4,609
Parks licensing and other	448		549		414		474		1,885
Total revenues	7,082		6,505		7,245		7,253		28,085
Operating expenses	(3,451)		(3,485)		(3,729)		(4,271)		(14,936)
Selling, general, administrative and other	(737)		(809)		(855)		(1,002)		(3,403)
Depreciation and amortization	(593)		(598)		(622)		(638)		(2,451)
Equity in the loss of investees	(3)		(5)		(2)		—		(10)
Operating income	$	2,298	$	1,608	$	2,037	$	1,342	$	7,285

The following table provides supplemental revenue and operating income (loss) detail for Experiences:


	Quarter Ended								Year Ended Oct. 1, 2022
(unaudited; in millions)	Jan. 1, 2022		April 2, 2022		July 2, 2022		October 1, 2022
Supplemental revenue detail
Parks & Experiences
Domestic	$	4,800	$	4,898	$	5,423	$	5,010	$	20,131
International	861		574		788		1,074		3,297
Consumer Products	1,421		1,033		1,034		1,169		4,657
	$	7,082	$	6,505	$	7,245	$	7,253	$	28,085

Supplemental operating income (loss) detail
Parks & Experiences
Domestic	$	1,555	$	1,385	$	1,651	$	741	$	5,332
International	21		(268)		(64)		74		(237)
Consumer Products	722		491		450		527		$	2,190
	$	2,298	$	1,608	$	2,037	$	1,342	$	7,285


Delaware	001-38842	83-0940635
(State or other jurisdiction	(Commission File Number)	(IRS Employer
of incorporation)		Identification No.)


Exhibit Number						Description
99.1						Information regarding recast segment financial information for the nine months ended July 1, 2023, fiscal year 2022 and fiscal year 2021
104						Cover Page Interactive Data File (embedded within the Inline XBRL document)



						The Walt Disney Company

By:						/s/ Brent A. Woodford
						Brent A. Woodford
						Executive Vice President Controllership, Financial Planning and Tax


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


Emerging growth company			☐