Walt Disney Company (The)

Filing receipts

“Other operating expense increased primarily due to new guest offerings, higher volumes and an unfavorable foreign exchange impact.”

“Interest expense, net Interest expense, net is as follows: Six Months Ended (in millions) March 28, 2026 March 29, 2025 % Change Better (Worse) Interest expense $ (916) $ (958) 4 % Interest income, investment income and other 401 245 64 % Interest expense, net $ (515) $ (713) 28 % The decrease in interest expense was primarily due to lower average rates.”

“Significant items impacting the change in the effective income tax rate included the following: • The current quarter included a non-cash tax charge of approximately 3 percentage points in connection with the NFL Transaction 32 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS — (continued) • The prior-year quarter included a favorable impact of approximately 33 percentage points from the resolution of a tax matter Noncontrolling Interests Quarter Ended (in millions) March 28, 2026 March 29, 2025 % Change Better (Worse) Net income attributable to noncontrolling interests $ (218) $ (126) (73) % The increase in net income attributable to noncontrolling inte...”