SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. | | | | | | | | | | | | | | | | | |
| | | | | THE WALT DISNEY COMPANY |
| | | | | (Registrant) |
| Date: | November 13, 2025 | | By: | | /s/ ROBERT A. IGER |
| | | | | (Robert A. Iger |
| | | | | Chief Executive Officer and Director) |
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
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| Signature | | Title | | Date |
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| Principal Executive Officer | | | | |
| /s/ ROBERT A. IGER | | Chief Executive Officer and Director | | November 13, 2025 |
| (Robert A. Iger) | | | |
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| Principal Financial and Accounting Officers | | | | |
| /s/ HUGH F. JOHNSTON | | Senior Executive Vice President and
Chief Financial Officer | | November 13, 2025 |
| (Hugh F. Johnston) | | | |
| | |
| /s/ BRENT A. WOODFORD | | Executive Vice President-Controllership, Financial Planning and Tax | | November 13, 2025 |
| (Brent A. Woodford) | | | |
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| Directors | | | | |
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| /s/ MARY T. BARRA | | Director | | November 13, 2025 |
| (Mary T. Barra) | | | | |
| | |
| /s/ AMY L. CHANG | | Director | | November 13, 2025 |
| (Amy L. Chang) | | | | |
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/s/ D. JEREMY DARROCH | | Director | | November 13, 2025 |
(D. Jeremy Darroch) | | | | |
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| /s/ CAROLYN N. EVERSON | | Director | | November 13, 2025 |
| (Carolyn N. Everson) | | | | |
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| /s/ MICHAEL B.G. FROMAN | | Director | | November 13, 2025 |
| (Michael B.G. Froman) | | | | |
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/s/ JAMES P. GORMAN | | Chairman of the Board and Director | | November 13, 2025 |
(James P. Gorman) | | | | |
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| /s/ MARIA ELENA LAGOMASINO | | Director | | November 13, 2025 |
| (Maria Elena Lagomasino) | | | | |
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| /s/ CALVIN R. MCDONALD | | Director | | November 13, 2025 |
| (Calvin R. McDonald) | | | | |
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| /s/ DERICA W. RICE | | Director | | November 13, 2025 |
| (Derica W. Rice) | | | | |
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THE WALT DISNEY COMPANY AND SUBSIDIARIES
INDEX TO FINANCIAL STATEMENTS AND SUPPLEMENTAL DATA
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| | Page |
Management’s Report on Internal Control Over Financial Reporting | |
Report of Independent Registered Public Accounting Firm (PCAOB ID: 238) | |
Consolidated Financial Statements of The Walt Disney Company and Subsidiaries | |
| Consolidated Statements of Income for the Years Ended September 27, 2025, September 28, 2024 and September 30, 2023 | |
| Consolidated Statements of Comprehensive Income for the Years Ended September 27, 2025, September 28, 2024 and September 30, 2023 | |
| Consolidated Balance Sheets as of September 27, 2025 and September 28, 2024 | |
| Consolidated Statements of Cash Flows for the Years Ended September 27, 2025, September 28, 2024 and September 30, 2023 | |
| Consolidated Statements of Shareholders’ Equity for the Years Ended September 27, 2025, September 28, 2024 and September 30, 2023 | |
Notes to Consolidated Financial Statements | |
All schedules are omitted for the reason that they are not applicable or the required information is included in the financial statements or notes.
MANAGEMENT’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING
Management is responsible for establishing and maintaining adequate internal control over financial reporting, as such term is defined in Exchange Act Rule 13a-15(f). The Company’s internal control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and directors of the Company; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Company’s assets that could have a material effect on the financial statements.
Internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements prepared for external purposes in accordance with generally accepted accounting principles. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
Under the supervision and with the participation of management, including our principal executive officer and principal financial officer, we conducted an evaluation of the effectiveness of our internal control over financial reporting based on the framework in Internal Control - Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission in 2013. Based on our evaluation under the framework in Internal Control - Integrated Framework, management concluded that our internal control over financial reporting was effective as of September 27, 2025.
The effectiveness of our internal control over financial reporting as of September 27, 2025 has been audited by PricewaterhouseCoopers LLP, an independent registered public accounting firm, as stated in their report, which is included herein.
