The Walt Disney Company

Financial Data ($ millions) 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000

Revenue Eisner Lion King ABC

Parks & Resorts 1097 1258 1524 1834 2042 2595 3020 2974 3307 3441 3464 3960 4502 5014 5532 6141 6809
Merch., Food, Bev. 1860 2094
Admissions 1878 2006
Studio Entertainment 245 320 512 876 1149 1588 2250 2594 3115 3673 4793 6001 6471 6981 6586 6176 6011
Consumer Products 110 123 130 167 247 411 574 724 1082 1425 1798 2151 3688 3782 3165 3126 2762
Media Networks 0 0 0 0 0 0 0 0 0 0 0 0 4078 6522 7433 8012 9836
Advertising 5486 6637
Affiliate Fees
Internet & Direct Mkt 0 0 0 0 0 0 0 0 0 0 0 0 0 174 260 206 368
Total 1452 1701 2166 2877 3438 4594 5844 6292 7504 8539 10055 12112 18739 22490 22999 23455 25418

Parks & Resorts 76% 74% 70% 64% 59% 56% 52% 47% 44% 40% 34% 33% 24% 22% 24% 26% 27%
Studio Entertainment 17% 19% 24% 30% 33% 35% 39% 41% 42% 43% 48% 50% 35% 31% 29% 26% 24%
Consumer Products 8% 7% 6% 6% 7% 9% 10% 12% 14% 17% 18% 18% 20% 17% 14% 13% 11%
Media Networks 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 22% 29% 32% 34% 39%
Internet & Direct Mkt 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 1% 1% 1% 1%

vs. 20% growth target ### 17.1% 27.3% 32.8% 19.5% 33.6% 27.2% 7.7% 19.3% 13.8% 17.8% 20.5% 54.7% 20.0% 2.3% 2.0% 8.4%
Operating Income
Parks & Resorts 186 255 404 549 565 785 889 547 644 747 684 861 990 1136 1288 1494 1615
Capital Expenditures 1699 1524
Studio Entertainment 1 34 52 131 186 257 313 318 508 622 856 1074 895 1079 749 162 126
Film & TV Costs 4215

Bus ines s
100%
Capital Expenditures 51 50 90%
Consumer Products 54 56 72 97 134 187 223 230 283 355 426 511 577 893 810 592 386 80%
Capital Expenditures 114 73 70%
Media Networks 0 0 0 0 0 0 0 0 0 0 0 0 871 1699 1757 1512 1985 60%
Broadcasting 571 1033 50%
40%
Cable 941 1015
30%
Capital Expenditures 168 249 20%
Internet & Direct Mkt 0 0 0 0 0 0 0 0 0 0 0 0 0 (56) (94) (93) (402) 10%
Corp. Capital Exp. 102 117 0%
Total Op. Inc. 241 345 528 777 885 1229 1425 1095 1435 1724 1966 2446 3333 4751 4510 3667 3710
43.2% 53.0% 47.2% 13.9% 38.9% 15.9% -23.2% 31.1% 20.1% 14.0% 24.4% 36.3% 42.5% -5.1% -18.7% 1.2%

Parks & Resorts 77% 74% 77% 71% 64% 64% 62% 50% 45% 43% 35% 35% 30% 24% 29% 41% 44%
Studio Entertainment 0% 10% 10% 17% 21% 21% 22% 29% 35% 36% 44% 44% 27% 23% 17% 4% 3%
Consumer Products 22% 16% 14% 12% 15% 15% 16% 21% 20% 21% 22% 21% 17% 19% 18% 16% 10%
Media Networks 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 26% 36% 39% 41% 54%
Internet & Direct Mkt 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% -1% -2% -3% -11%
Net Income 98 174 247 445 522 703 824 637 817 300 1110 1380 1214 1966 1850 1300 920
77.6% 42.0% 80.2% 17.3% 34.7% 17.2% -22.7% 28.3% -63.3% 270.0% 24.3% -12.0% 61.9% -5.9% -29.7% -29.2%
Assets
Parks & Resorts 10884
Studio Entertainment 7298
Consumer Products 1173
Media Networks 21932
Corporate 3740
Intangible Assets* 311 318 18045 16011 15787 15695 16117
Goodwill
Total Assets 2739 2897 3121 3806 5109 6657 8022 9429 10862 11751 12826 14606 36626 38497 41378 43679 45027
US & Canada 43083
Europe 1545
Asia Pacific 281
Latin America & Other 118
Ratios
Operating Margin 11.0% 17.0% 21.0% 25.0% 23.0% 24.0% 22.0% 16.0% 17.0% 18.0% 18.0% 19.0% 16.0% 18.0% 16.0% 0.0% 0.0%
ROA 3.6% 6.0% 7.9% 11.7% 10.2% 10.6% 10.3% 6.8% 7.5% 2.6% 8.7% 9.4% 3.3% 5.1% 4.5% 3.0% 2.0%
Total Equity 17285 19388 20975 24100
vs. ROE (20% target) 9.0% 15.0% 17.0% 24.0% 25.0% 26.0% 25.0% 17.0% 19.0% 6.0% 21.0% 23.0% 11.0% 11.4% 9.5% 6.2% 3.8%
Total Borrowings 11693 9461
Total Debt/Assets 31.0% 28.0% 18.0% 15.0% 9.0% 13.0% 20.0% 23.0% 20.0% 20.0% 23.0% 20.0% 34.0% 29.0% 30.0% 26.8% 21.0%
Stock Performance
Adj. Close (first day next year) 0.41 1.33 2.81 3.06 4.27 6.28 6.97 9.45 13.00 13.71 15.08 19.42 22.49 33.62 31.39 34.91 29.48
224.4% 111.3% 8.9% 39.5% 47.1% 11.0% 35.6% 37.6% 5.5% 10.0% 28.8% 15.8% 49.5% -6.6% 11.2% -15.6%
*Intangible Assets include rights to the name, likeness and portrait of Walt Disney, goodwill, trademark, FCC licenses, etc. and are amortized over periods ranging from two to forty years. 1996 includes $16,079 for costs in excess
of ABC's net assets aquired.

Fin Data
 The Walt Disney Company
Top Amusement Parks Worldwide (attendance in millions)

Rank Pak and Location 1983 1991 1999 CAGR CAGR

Attendance Attendance Attendance 1983-1991 1991-1999
1 Tokyo Disneyland 10.2 15.8 17.5 5.6% 1.3%
2 Magic Kingdon, Walt Disney World, FL 12.6 18.0 15.2 4.5% -2.1%
3 Disneyland Anaheim, CA 9.9 11.6 13.4 2.0% 1.8%
4 Disneyland Paris no no 12.5
5 Epcot, Wlatz Disney World, FL 10.1 14.4 10.1 4.5% -4.3%
6 Disney-MGM Studios, FL no 6.8 8.7 3.1%
7 Everland, Kyonggi-Do, South Korea na na 8.6 na na
8 Animal Kingdom, Walt Disney World no no 8.6 na na
9 Universal Studios Florida, Orlando no 6.9 8.1 2.0%
10 Backpool (England) Pleasure Beach na na 6.9 na na
11 Lotte World, Seoul, South Korea no 4.5 6.1 3.9%
12 Yokohama (japan) Sea Paradise no no 6.7
13 Universal Studios, Universal City, CA 3.6 4.6 5.1 3.1% 1.3%
14 Seaworld, Florida, Orlando 3.0 3.9 4.7 3.3% 2.4%
15 Huis Ten Boschm Sasebo, Japan no no 4.0
16 Nagashima Spa Land, Kuwana, Japan no no 4.0
17 Busch Gardens, Tampa Bay, FL 3.0 2.9 3.9 -0.4% 3.8%
18 Six Flags Great Adventure, Jackson, NJ 3.1 3.0 3.8 -0.4% 3.0%
19 Seawood California, San Diego 2.9 3.8 3.6 3.4% -0.7%
20 Knott's Berry Farm, Bueno Park, CA 3.2 4.0 3.6 2.8% -1.3%
21 Universal's Islands of Adventure, Orlando no no 3.4
22 Paramount's Kings Island, OH 2.6 2.9 3.3 1.4% 1.6%
23 Cedar Point, Sandusky, OH 2.4 3.0 3.3 2.8% 1.2%
24 Morey's Piers, Wildwood, NJ na na 3.3 na na
25 Ocean Park, Hong Kong na 2.5 3.3 na na
26 Six Flags Magic Mountain, Valencia, CA 2.5 3.2 3.2 3.1% 0.0%
27 Suzuka (Japan) Circuit no no 3.2
28 Tivoli Gardens, Copenhagen, Denmark 5.0 4.0 3.1 -2.8% -3.1%
29 Six Flag Great America, Gumee, IL 2.3 2.6 3.1 1.5% 2.2%
30 Santa Cruz Beach Boardwalk, CA 2.3 3.0 3.0 3.4% 0.0%
na not available
no not yet open

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 The Walt Disney Company

Box Office Rev.

Distributor 2001 2002 2003 2004 2005 (mill) 2005
Domestic Box Office Market Share in Percent
Warner* 16.8% 21.2% 22.9% 17.5% 20.4% $1,482
Fox 9.5% 10.1% 8.4% 9.9% 15.3% $1,354
Disney** 21.8% 16.0% 24.0% 16.3% 14.6% $1,290
Universal 14.1% 9.5% 11.6% 9.5% 11.4% $1,010
Sony 9.2% 17.2% 13.0% 14.3% 10.4% $918
Paramount 10.6% 7.4% 7.1% 6.7% 9.4% $832
Dreamworks 10.3% 5.2% 3.0% 10.0% 5.7% $502
Lion's Gate 3.2% 3.2% $284
MGM/UA 1.4% 4.0% 4.0% 2.1% 2.1% $182
Total $7,853

Avge. Rev.
Distributor 2001 2002 2003 2004 2005 (mill.) 2005
Number of Movie Releases
Warner 36 38 33 32 29 $51.10
Fox 13 14 16 14 18 $75.22
Disney** 46 47 42 33 37 $34.86
Universal 14 14 14 14 19 $53.17
Sony 33 33 24 17 23 $39.90
Paramount 16 20 15 14 12 $69.35
Dreamworks 10 7 7 10 9 $55.76
Lion's Gate 18 18 $15.78
MGM/UA 7 19 15 15 9 $20.17

*Includes New
**Includes BuenaLine Cinema
Vista, Miramax, and Dimension; Dimension was part of Disney-owned Miramax
until October 2005
Source: http://www.boxofficemojo.com/studio/

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