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QuestionsCategory: Financials QuadrantFinancial Statements Questions – Extraordinary Items / SGA expenses / CAPEX / Dividends
Adeline Ling asked 8 months ago

Hi All, I\\\’m carrying out on the financial analysis for Disney and am still confused on the following when working on the following:

  1. I\\\’ve attached the income statement of 2019 for Disney. I\\\’ve boxed up 2 items in red on the statement, may I check if these are considered extraordinary items? Are there any that I\\\’ve missed out and should include?
  2. Also, for earlier years of Disney\\\’s income statements, there is no separate item called SGA expenses. Does that mean that I would need to go into each segment to add all the SGA expenses for each segment?
  3. Have also attached the balance sheet of 2019 for Disney. May I check if the box up in blue is the CAPEX? And the box up in green is the Dividends?

Appreciate your help.
Thank you.

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3 Answers
Adeline Ling answered 8 months ago

Sorry, submitted the question without uploading the balance sheet. Thank you.

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Adeline Ling answered 8 months ago

Sorry, submitted the question without uploading the balance sheet. Thank you.

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Victor Chng answered 8 months ago

Hi Adeline,
 
1.The two items are correct except that you have missed out restructuring and impairment charges

2.If they did not total the SGA, you need to add up the SGA by yourself.

3.The statement that you had attached is the cash flow statement not the balance sheet. Their capex is investment in parks, resorts and other property. 
 
4.If you are looking for their dividends, you cannot take from cash flow statements as it shows the dividend based on previous financial years. You can get it from the annual report page 28. (https://thewaltdisneycompany.com/app/uploads/2020/01/2019-Annual-Report.pdf)