v3.25.1
Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Millions
Mar. 29, 2025
Sep. 28, 2024
Deferred Tax Assets    
Net Operating Losses and Tax Credit Carryforwards [1] $ (3,230) $ (3,444)
Accrued Liabilities (1,033) (1,199)
Lease Liabilities (827) (862)
Licensing Revenues (109) (130)
Other (512) (655)
Deferred Tax Assets, Gross (5,711) (6,290)
Deferred Tax Liabilities    
Depreciable, amortizable and other property 5,965 6,584
Investment in U.S. entities [2] 1,037 1,102
Investment in foreign entities 759 465
Right-of-Use Assets 662 692
Other 70 78
Deferred Tax Liabilities, Gross 8,493 8,921
Net deferred tax liability before valuation allowance 2,782 2,631
Valuation Allowance 2,948 2,991
Net Deferred Deferred Tax Liabilities $ 5,730 $ 5,622
[1] Further details on our net operating losses and tax credit carryforwards are as follows:
March 29, 2025
International Theme Park net operating losses
$(1,441) 
U.S. foreign tax credits(836) 
State net operating losses and tax credit carryforwards(602) 
Other(351) 
Total net operating losses and tax credit carryforwards(a)
$(3,230) 
(a)    Approximately $2.0 billion of these carryforwards do not expire. Approximately $1.1 billion expire between fiscal 2026 and fiscal 2035, primarily related to U.S. foreign tax credits.
[2] Amounts are, in part, due to the tax status of these entities. In the third quarter of the current fiscal year, the Company expects to complete the acquisition of NBCU’s interest in Hulu. Concurrently, Hulu’s partnership tax status will terminate, and, as a result, the Company expects to recognize a non-cash tax benefit of approximately $3.3 billion.