Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Walt Disney Co., consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

US$ in millions

	Sep 27, 2025	Jun 28, 2025	Mar 29, 2025	Dec 28, 2024	Sep 28, 2024	Jun 29, 2024	Mar 30, 2024	Dec 30, 2023	Sep 30, 2023	Jul 1, 2023	Apr 1, 2023	Dec 31, 2022	Oct 1, 2022	Jul 2, 2022	Apr 2, 2022	Jan 1, 2022	Oct 2, 2021	Jul 3, 2021	Apr 3, 2021	Jan 2, 2021	Oct 3, 2020	Jun 27, 2020	Mar 28, 2020	Dec 28, 2019
Accounts payable and other accrued liabilities	21,203)	20,500)	20,729)	21,635)	21,070)	20,216)	18,798)	18,676)	20,671)	19,115)	18,591)	18,149)	20,213)	20,858)	19,669)	18,709)	20,894)	18,317)	17,062)	16,846)	16,801)	16,986)	17,906)	19,755)
Current portion of borrowings	6,711)	5,732)	6,446)	6,620)	6,845)	8,060)	6,789)	6,087)	4,330)	2,645)	3,452)	3,249)	3,070)	5,580)	5,399)	6,783)	5,866)	4,728)	5,243)	5,397)	5,711)	10,224)	12,676)	10,018)
Deferred revenue and other	6,248)	6,740)	6,854)	6,591)	6,684)	7,336)	7,287)	6,270)	6,138)	6,474)	6,013)	5,672)	5,790)	4,266)	4,533)	4,545)	4,317)	4,368)	4,337)	4,303)	4,116)	3,707)	4,891)	5,024)
Current liabilities	34,162)	32,972)	34,029)	34,846)	34,599)	35,612)	32,874)	31,033)	31,139)	28,234)	28,056)	27,070)	29,073)	30,704)	29,601)	30,037)	31,077)	27,413)	26,642)	26,546)	26,628)	30,917)	35,473)	34,797)
Borrowings, excluding current portion	35,315)	36,531)	36,443)	38,688)	38,970)	39,524)	39,510)	41,603)	42,101)	44,544)	45,066)	45,128)	45,299)	46,022)	46,624)	47,349)	48,540)	51,110)	50,903)	52,878)	52,917)	54,197)	42,770)	38,057)
Deferred income taxes	3,524)	3,097)	6,298)	6,336)	6,277)	6,628)	6,860)	7,041)	7,258)	7,304)	8,134)	8,236)	8,363)	8,034)	8,407)	8,124)	7,246)	6,835)	6,894)	7,201)	7,288)	7,055)	7,965)	8,364)
Other long-term liabilities	9,901)	10,256)	10,297)	10,437)	10,851)	10,705)	12,103)	12,596)	12,069)	12,759)	13,232)	12,812)	12,518)	13,456)	13,808)	14,208)	14,522)	16,249)	16,615)	17,205)	17,204)	15,855)	16,113)	15,928)
Long-term liabilities	48,740)	49,884)	53,038)	55,461)	56,098)	56,857)	58,473)	61,240)	61,428)	64,607)	66,432)	66,176)	66,180)	67,512)	68,839)	69,681)	70,308)	74,194)	74,412)	77,284)	77,409)	77,107)	66,848)	62,349)
Total liabilities	82,902)	82,856)	87,067)	90,307)	90,697)	92,469)	91,347)	92,273)	92,567)	92,841)	94,488)	93,246)	95,253)	98,216)	98,440)	99,718)	101,385)	101,607)	101,054)	103,830)	104,037)	108,024)	102,321)	97,146)
Redeemable noncontrolling interests	—)	—)	—)	—)	—)	—)	—)	—)	9,055)	8,886)	8,814)	8,743)	9,499)	9,425)	9,354)	9,283)	9,213)	9,492)	9,410)	9,330)	9,249)	9,162)	9,096)	9,029)
Preferred stock	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Common stock, $0.01 par value	59,814)	59,515)	59,199)	58,868)	58,592)	58,252)	58,028)	57,640)	57,383)	57,136)	56,919)	56,579)	56,398)	56,087)	55,823)	55,500)	55,471)	55,174)	55,000)	54,663)	54,497)	54,386)	54,230)	53,995)
Retained earnings	60,410)	59,109)	53,733)	50,468)	49,722)	49,273)	46,649)	47,490)	46,093)	45,794)	46,236)	44,955)	43,636)	43,462)	42,032)	41,547)	40,429)	40,311)	39,365)	38,456)	38,315)	39,004)	43,721)	43,202)
Accumulated other comprehensive loss	(2,914)	(3,049)	(2,877)	(2,688)	(3,699)	(3,454)	(3,509)	(3,502)	(3,292)	(4,413)	(4,389)	(4,478)	(4,119)	(6,142)	(6,312)	(6,276)	(6,440)	(7,837)	(7,918)	(8,141)	(8,322)	(6,617)	(6,637)	(6,533)
Treasury stock, at cost	(7,441)	(6,430)	(5,716)	(4,715)	(3,919)	(3,449)	(1,916)	(907)	(907)	(907)	(907)	(907)	(907)	(907)	(907)	(907)	(907)	(907)	(907)	(907)	(907)	(907)	(907)	(907)
Total Disney Shareholders’ equity	109,869)	109,145)	104,339)	101,933)	100,696)	100,622)	99,252)	100,721)	99,277)	97,610)	97,859)	96,149)	95,008)	92,500)	90,636)	89,864)	88,553)	86,741)	85,540)	84,071)	83,583)	85,866)	90,407)	89,757)
Noncontrolling interests	4,743)	4,611)	4,427)	4,806)	4,826)	4,681)	4,511)	4,780)	4,680)	4,446)	3,697)	3,986)	3,871)	3,933)	4,023)	4,446)	4,458)	4,381)	4,246)	4,657)	4,680)	4,597)	4,470)	5,016)
Total equity	114,612)	113,756)	108,766)	106,739)	105,522)	105,303)	103,763)	105,501)	103,957)	102,056)	101,556)	100,135)	98,879)	96,433)	94,659)	94,310)	93,011)	91,122)	89,786)	88,728)	88,263)	90,463)	94,877)	94,773)
Total liabilities and equity	197,514)	196,612)	195,833)	197,046)	196,219)	197,772)	195,110)	197,774)	205,579)	203,783)	204,858)	202,124)	203,631)	204,074)	202,453)	203,311)	203,609)	202,221)	200,250)	201,888)	201,549)	207,649)	206,294)	200,948)

Accounts payable and other accrued liabilities: The balance shows a decline from late 2019 through mid-2020, reflecting a reduction from $19.8 billion to about $16.8 billion, likely influenced by operational adjustments. From late 2020 onwards, there is a general upward trend, peaking around $21.1 billion in late 2024, suggesting increasing payables and accrued liabilities in recent periods.
Current portion of borrowings: This item displays significant fluctuations, initially increasing sharply from $10 billion to $12.7 billion in early 2020, then sharply decreasing to around $3 billion by late 2022. It rises again to a peak of about $8.1 billion mid-2024 before declining slightly towards early 2025. The variation may reflect debt restructuring, repayments, or refinancing activities.
Deferred revenue and other: The amounts start at approximately $5 billion in 2019 and decline through mid-2020, likely due to the pandemic's effect on activities. Beginning late 2021, there's a steady rise reaching a peak around $7.3 billion mid-2024, followed by a modest decline. This indicates an increasing level of unearned revenue or advances over time.
Current liabilities: Current liabilities decreased sharply from $34.8 billion in late 2019 to $26.6 billion by late 2020, coinciding with the initial pandemic period. Subsequently, the figure increases, with peaks near $35.6 billion in mid-2024, reflecting the patterns seen in related liabilities and borrowings.
Borrowings, excluding current portion: Long-term borrowings rose markedly from $38.1 billion at the end of 2019 to a peak of about $54.2 billion in mid-2020, then gradually declined to approximately $35.3 billion by late 2025. This trend suggests increased debt issuance during the pandemic followed by steady repayments or refinancings over subsequent years.
Deferred income taxes: Deferred income tax liabilities decreased somewhat from around $8.4 billion in late 2019 to approximately $7 billion by late 2025, with some variability. A notable drop to about $3.1 billion is observed in late 2024, possibly indicating tax-related adjustments or valuation changes.
Other long-term liabilities: Other long-term liabilities fluctuate moderately, decreasing from $15.9 billion in 2019 to just under $10 billion by late 2025. This steady decline may reflect amortization of obligations or other long-term liability reductions.
Long-term liabilities: Total long-term liabilities increased from $62.3 billion in 2019 reaching a high near $77.4 billion in late 2020, followed by a consistent downward trend to approximately $48.7 billion by late 2025. This aligns with a reduction in long-term borrowings and other liabilities over the period.
Total liabilities: Total liabilities peaked at about $108 billion in mid-2020, then trended downward to around $82.9 billion by late 2025. The initial rise corresponds with increased borrowings during the pandemic, followed by a gradual liability reduction consistent with debt repayment and overall liability management.
Redeemable noncontrolling interests: This category remained relatively stable at around $9 billion until late 2022, after which disclosures appear to cease or values are unavailable.
Common stock, $0.01 par value: Common stock value incrementally increased from approximately $54 billion in late 2019 to nearly $60 billion by late 2025, reflecting ongoing share issuance or accounting adjustments.
Retained earnings: Retained earnings exhibited a decrease early in the period from $43.2 billion to about $38.3 billion by late 2020, likely impacted by operational challenges. Subsequently, there was a consistent recovery and growth, reaching over $60 billion by late 2025, signaling improving profitability and earnings retention.
Accumulated other comprehensive loss: The accumulated other comprehensive loss started at approximately negative $6.5 billion, worsened through early 2020 to over negative $8 billion, then improved to around negative $2.9 billion by late 2025. This trend suggests volatility in other comprehensive income components but an overall reduction in losses.
Treasury stock, at cost: Treasury stock remained constant at roughly negative $0.9 billion until early 2022, after which it increased substantially in magnitude, reaching a cost of about negative $7.4 billion by late 2025. This indicates significant share repurchase activity during this latter period.
Total Disney Shareholders’ equity: Shareholders' equity initially declined from about $89.8 billion in late 2019 to approximately $83.6 billion by mid-2020. Afterward, there was a steady recovery and growth to nearly $110 billion by late 2025. This reflects improved earnings, equity issuance, and share repurchases balance.
Noncontrolling interests: Noncontrolling interests showed modest fluctuations, decreasing overall from about $5 billion in 2019 to around $4.7 billion by late 2025, indicating slight changes in ownership stakes in subsidiaries.
Total equity: Total equity followed a similar pattern to shareholders’ equity, declining in early 2020, then growing steadily to exceed $114 billion by late 2025. This indicates strengthening of the company's net assets over the period.
Total liabilities and equity: The combined total fluctuated slightly around $200 billion throughout the entire period, reflecting relatively stable total capitalization despite shifts between liabilities and equity components.

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Walt Disney Co. (NYSE:DIS)

Balance Sheet: Liabilities and Stockholders’ Equity Quarterly Data

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data