According to a new SEC filing, Disney has plans to “nearly double” its planned capital expenditures as part of “turbo-charging” its theme parks division.
Senior Disney executives, including Chief Executive Officer Bob Iger and Disney Parks, Experiences and Products Chairman Josh D’Amaro, are meeting Tuesday with Wall Street analysts and investors at the Walt Disney World Resort in an “investor summit focused on Disney’s Parks business and its track record of investing aggressively and intelligently in experiences that leverage the powerful and ever-growing library of Disney stories, which has proven incredibly effective.”
Central to the business’s growth strategy will be a focus on stories, scale, and fans.
The Walt Disney Company is providing the following update regarding its plans for capital expenditures at its Disney Parks, Experiences and Products (“DPEP”) segment. The Company is developing plans to accelerate and expand investment in its DPEP segment, to nearly double, as compared to the previous approximately 10-year period, consolidated capital expenditures for the segment over the course of an approximately 10-year period to approximately $60 billion in aggregate, including by investing in expanding and enhancing domestic and international parks and cruise line capacity, prioritizing projects anticipated to generate strong returns, consistent with the Company’s continuing approach to allocate capital in a disciplined and balanced manner.
We believe that the Company’s financial condition is strong and that its cash balances, other liquid assets, operating cash flows, access to capital markets and borrowing capacity under current bank facilities, taken together, provide adequate resources to fund ongoing operating requirements, contractual obligations, upcoming debt maturities as well as future capital expenditures related to the expansion of existing businesses and development of new projects.
The Walt Disney company
Senior Editor for the DIS and DCL Fan | Disney Vacation Club Member | Thrilled to have been a '13/'14 Disney Parks Moms Panelist (now planDisney) | Lover of all things Disney; the Magic of Disneyland, Walt Disney World, and Disney Cruise Line | ºoº
