(unaudited) | Q1(1) | Q2 (2) | Q3 (3) | Q4 (4) | ||||||||||||
2013 | ||||||||||||||||
Revenues | $ | 11,341 | $ | 10,554 | $ | 11,578 | $ | 11,568 | ||||||||
Net income | 1,438 | 1,621 | 2,034 | 1,543 | ||||||||||||
Net income attributable to Disney | 1,382 | 1,513 | 1,847 | 1,394 | ||||||||||||
Earnings per share: | ||||||||||||||||
Diluted | $ | 0.77 | $ | 0.83 | $ | 1.01 | $ | 0.77 | ||||||||
Basic | 0.78 | 0.84 | 1.02 | 0.78 | ||||||||||||
2012 | ||||||||||||||||
Revenues | $ | 10,779 | $ | 9,629 | $ | 11,088 | $ | 10,782 | ||||||||
Net income | 1,521 | 1,226 | 2,036 | 1,390 | ||||||||||||
Net income attributable to Disney | 1,464 | 1,143 | 1,831 | 1,244 | ||||||||||||
Earnings per share: | ||||||||||||||||
Diluted | $ | 0.80 | $ | 0.63 | $ | 1.01 | $ | 0.68 | ||||||||
Basic | 0.81 | 0.64 | 1.02 | 0.69 | ||||||||||||
(1) | Results for the first quarter of fiscal 2013 include charges related to the Celador litigation ($0.11 per diluted share) and our share of expense associated with the Hulu Equity Redemption ($0.02 per diluted share), partially offset by a gain on the sale of our 50% interest in ESS ($0.07 per diluted share) and a tax benefit related to an increase in the amount of prior-year foreign earnings considered to be indefinitely reinvested outside of the United States ($0.04 per diluted share). These items had a net adverse impact of $0.02 on diluted earnings per share. The first quarter of fiscal 2012 includes restructuring charges, which had no net impact on earnings per share. |
(2) | Results for the second quarter of fiscal 2013 include favorable tax adjustments related to pre-tax earnings in prior years ($0.06 per diluted share), partially offset by restructuring and impairment charges ($0.02 per diluted share). These items collectively had a net positive impact of $0.04 on diluted earnings per share. The second quarter of fiscal 2012 includes a non-cash gain on the Company’s equity investment in UTV, which arose in connection with the acquisition of a controlling interest in UTV ($0.06 per diluted share) and restructuring and impairment charges ($0.01 per diluted share). These items had a net positive impact of $0.05 on diluted earnings per share. |
(3) | Results for the third quarter of fiscal 2013 include restructuring and impairment charges, which had an adverse impact of $0.02 on diluted earnings per share. The third quarter of fiscal 2012 includes restructuring charges, which had no net impact on earnings per share. |
(4) | Results for the fourth quarter of fiscal 2013 include restructuring and impairment charges ($0.03 per diluted share), offset by a tax benefit related to an increase in the amount of prior-year foreign earnings considered to be indefinitely reinvested outside of the United States ($0.02 per diluted share) and gains on the sale of various businesses ($0.01 per diluted share), which collectively had no net impact on earnings per share. The fourth quarter of fiscal 2012 includes the Lehman recovery ($0.03 per diluted share) offset by restructuring and impairment charges ($0.02 per diluted share) and the DLP debt charge (rounds to $0.00 per diluted share), which collectively had no net impact on earnings per share. |