SEC Info - Disney Enterprises Inc - ‘10-K/A’ for 9/30/94

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Disney Enterprises Inc – ‘10-K/A’ for 9/30/94

As of: Friday, 6/30/95 · For: 9/30/94 · Accession #: 29082-95-16 · File #: 1-04083

  As Of                Filer                Filing    For·On·As Docs:Size

 6/30/95  Disney Enterprises Inc            10-K/A      9/30/94    1:27K

Amendment to Annual Report — Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K/A      Amendment to Annual Report                            19     56K 

10-K/A 1st Page of 19 TOC ↑Top Previous Next ↓Bottom Just 1st
 
DISNEY SALARIED SAVINGS AND   
INVESTMENT PLAN     

REPORT AND FINANCIAL    
STATEMENTS    

DECEMBER 31, 1994 AND 1993    

10-K/A 2nd Page of 19 TOC 1st Previous Next ↓Bottom Just 2nd
DISNEY SALARIED SAVINGS AND INVESTMENT PLAN   

INDEX TO FINANCIAL STATEMENTS   

DECEMBER 31, 1994   

Report of Independent Accountants                                       F-2     

Statement of Net Assets Available for Benefits                          F-3     

Statement of Changes in Net Assets Available for Benefits               F-4     

Notes to Financial Statements                                           F-5     

Supplementary Schedules                                                         

Schedule   I - Schedule of Assets Held for Investment Purposes        F-17  

Schedule   V - Plan Transactions or Series of Transactions                  
in Excess of 5 Percent of the Current Value 
              of Assets at the Beginning of the Plan Year           F-18

Other schedules required by Section 2520.103-10 of the Department               
of Labor Rules and Regulations for Reporting and Disclosure under               
ERISA have been ommitted because they not applicable.                           

F-1       

10-K/A 3rd Page of 19 TOC 1st Previous Next ↓Bottom Just 3rd
REPORT OF INDEPENDENT ACCOUNTANTS     

June 5, 1995                                                                    

To the Participants and Investment and                                          
Administrative Committee of                                                     
the Disney Salaried Savings and Investment Plan                                 

In our opinion, the accompanying statements of net assets available             
for benefits and the related statements of changes in net assets                
available for benefits present fairly, in all material respects,                
the financial status of the Disney Salaried Savings and Investment              
Plan (the "Plan") at December 31, 1994 and 1993 and the changes in              
its financial status for each of the three years in the period ended            
December 31, 1994, in conformity with generally accepted accounting             
principles.  These financial statements are the responsibility of the Plan's    
management; our responsibility is to express an opinion on these                
financial statements based on our audits.  We conducted our audits              
of these statements in accordance with generally accepted auditing              
standards which require that we plan and perform the audit to                   
obtain reasonable assurance about whether the financial statements              
are free of material misstatement.  An audit includes examining, on             
a test basis, evidence supporting the amounts and disclosures in                
the financial statements, assessing the accounting principles used              
and significant estimates made by management, and evaluating the                
overall financial statement presentation.  We believe that our                  
audits provide a reasonable basis for the opinion expressed above.              

Our audit was performed for the purpose of forming an opinion on                
the basic financial statements taken as a whole.  The additional                
information included in Notes 5, 6, and 7 and Schedules I and V is              
presented for purposes of additional analysis and is not a required             
part of the basic financial statements but is additional                        
information required by ERISA. Such information has been subjected              
to the auditing procedures applied in the audit of the basic                    
financial statements and, in our opinion, is fairly stated in all               
material respects in relation to the basic financial statements                 
taken as a whole.                                                               

F-2             

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DISNEY SALARIED SAVINGS AND INVESTMENT PLAN     

STATEMENT OF NET ASSETS AVAILABLE FOR BENEFITS    

(In thousands)      

                                                                [Download Table]

                                                        December 31,     
                                                     1994          1993  
                                                                         
  Investments, at market value                                           
    The Walt Disney Company Common Stock Fund      $153,872      $132,643
    Interest in pooled funds                         84,772        66,858
    Guaranteed Interest Contracts                                        
    (Interest rates range from 8.92% to 9.24%)        3,245         7,144
    Participant loans                                 7,066         6,343

                                                    248,955       212,988

    Contributions receivable                          3,874         3,682

Net Assets Available for Benefits                  $252,829      $216,670

The accompanying notes are an integral part of these financial statements.      

F-3       

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DISNEY SALARIED SAVINGS AND INVESTMENT PLAN       

STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS       

(In thousands)        

                                                                [Download Table]

                                                    For the Year Ended    
                                                       December 31,       
                                                1994       1993       1992
                                                                          
Sources of Net Assets                                                     

  Investment income                                                       
    Interest                                $    908   $  1,209   $  1,819
    Dividends                                  3,739      4,264      2,075
    Realized (loss) gain on sale of assets      (548)      (212)    10,003
                                               4,099      5,261     13,897

  Unrealized appreciation in investments       7,879      2,708     24,671

  Contributions                                                           
    Participants                              33,650     30,171     24,078
    Company                                    9,036      8,402      7,433
                                              42,686     38,573     31,511

  Total Sources of Net Assets                 54,664     46,542     70,079

Applications of Net Assets                                                

  Payments to participants                    18,501     11,125      6,607
  Investment expense                               4         16        115

  Total Applications of Net Assets            18,505     11,141      6,722

Increase in net assets                        36,159     35,401     63,357

Net Assets Available for Benefits                                         
  Beginning of year                          216,670    181,269    117,912

  End of year                               $252,829   $216,670   $181,269

The accompanying notes are an integral part of these financial              
statements.             

F-4     

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DISNEY SALARIED SAVINGS AND INVESTMENT PLAN     

NOTES TO FINANCIAL STATEMENTS     

DECEMBER 31, 1994     

(Tabular dollars in thousands, except per share/unit amounts)     

1.  Description of the Plan                                                     

General                                                                         
The Walt Disney Company (the "Company") implemented the Disney                  
Salaried Savings and Investment Plan (the "Plan") on January 1,                 
1985.  The Plan is a defined contribution plan designed to provide              
participating employees the opportunity to accumulate retirement                
funds through a tax-deferred contribution arrangement pursuant to               
Section 401(k) of the Internal Revenue Code of 1986, as amended                 
(the "Code").  In addition to the Code, the Plan is subject to the              
provisions of the Employee Retirement Income Security Act of 1974               
("ERISA").                                                                      

Administration of the Plan                                                      
The Board of Directors of the Company has appointed the Investment              
and Administrative Committee of The Walt Disney Company Sponsored               
Qualified Benefit Plans and Key Employees Deferred Compensation and             
Retirement Plan (the "Committee" or "Plan Administrator") to                    
administer the Plan, interpret its provisions and resolve all                   
issues arising in the administration of the Plan.                               

The assets of the Plan are administered under a trust agreement                 
between the Company and Fidelity Institutional Retirement Services              
Company ("Fidelity" or the "Trustee").  The trust agreement                     
provides that assets of the Plan may be invested in the following               
pooled investment funds established by Fidelity:  the Institutional             
Short-Intermediate Government Portfolio Fund, the U.S. Equity Index             
Commingled Pool Fund, the U.S. Bond Index Portfolio Fund, the                   
Balanced Fund and the Magellan Fund.  Additionally, the trust                   
agreement provides that assets of the Plan may be invested in The               
Walt Disney Company Common Stock Fund, and the Guaranteed Interest              
Contract Fund (collectively the seven funds are referred to as the              
"Investment Funds").  Fidelity directs the investment of the                    
Institutional Short-Intermediate Government Portfolio Fund, the                 
U.S. Equity Index Commingled Pool Fund, the U.S. Bond Index                     
Portfolio Fund, the Balanced Fund, the Magellan Fund and The Walt               
Disney Company Common Stock Fund, and is the custodian of the records           
for the Guaranteed Interest Contract Fund established with Allstate             
Life Insurance Company and New York Life Insurance Company.  Effective          
July 1, 1992, the Guaranteed Interest Contract Fund was closed to               
contributions and transfers from other funds.  As the Guaranteed                
Interest Contracts mature, the corresponding fund balances are                  
reinvested in the Institutional Short-Intermediate Government                   
Portfolio Fund.                                                                 

Administrative expenses of the Plan, such as benefit plan                       
consultation fees (exclusive of brokerage commissions on the                    
purchase or sale of Company stock) are paid by the Company.  These              
administrative expenses may be paid from the assets of the Plan                 
unless the Company, at its discretion, pays such expenses.                      
Investment expenses incurred by the Investment Funds are charged to             
the respective funds.                                                           

F-5             

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DISNEY SALARIED SAVINGS AND INVESTMENT PLAN             

NOTES TO FINANCIAL STATEMENTS             
(continued)             

1.  Description of the Plan (continued)                                         

Participation                                                                   
Participation in the Plan is available to all salaried employees of             
the Company and its subsidiaries participating in the Plan who are              
regularly scheduled to work 1,000 hours or more during a year.  To              
be eligible, employees must be age 18 or older and have completed               
one year of employment during which they must also work at least                
1,000 hours.  The Plan covers only domestic salaried employees.                 

Effective March 4, 1993, the Plan was amended to accept direct cash             
rollovers from other qualified plans, regardless of whether the                 
employee had met the one-year eligibility requirement.  However,                
such funds would not be available for hardship distributions or                 
loans until after the employee has met the one-year eligibility                 
requirement and has become a participant of the Plan.                           

Contributions                                                                   
Participants are permitted to authorize income deferrals in whole               
percentages, up to 10 percent of their base compensation on a pre-tax           
basis, through weekly payroll deductions.  A participant's total                
tax-deferred contributions and the Company's matching contributions,            
in any Plan year, cannot exceed the limits provided under Sections              
401(k) and 415 of the Code.                                                     

Effective January 1, 1987, the Plan ceased to accept voluntary post-            
tax contributions.  Post-tax contributions made prior to January 1,             
1987, may remain in the Plan and continue to share in the Plan's                
investment results on a tax-deferred basis.  Income earned on                   
voluntary contributions is not taxable for Federal income tax                   
purposes until withdrawal and such post-tax contributions are                   
recovered tax free when withdrawn or distributed.                               

The Company currently contributes a matching amount equal to 50                 
percent of a participant's pre-tax contributions up to a maximum of             
2 percent of such participant's base compensation.  The Company may             
make matching contributions either in cash, which is invested                   
exclusively in the Company's common stock, or directly in shares of             
the Company's common stock and, at its discretion, the Company may              
change the level of matching contributions or cease making matching             
contributions.                                                                  

Participants are fully vested immediately in all contributions                  
including the Company's matching contributions made to the Plan and             
all earnings thereon.                                                           

F-6             

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DISNEY SALARIED SAVINGS AND INVESTMENT PLAN             

NOTES TO FINANCIAL STATEMENTS             
(continued)             

1.  Description of the Plan (continued)                                         

Investments                                                                     
Participants may direct the investment of their contributions in                
any one or more investment funds established for the Plan.                      
Participants may elect to change the investment of their                        
contributions or to transfer all or part of their account balance among         
the various investment funds.  Only four of each type of such                   
elections may be made in any year and must be made in multiples of              
10 percent of the amounts in an investment fund.  Currently,                    
participants may direct the investment of their contributions and               
account balance among any of the following investment funds                     
administered by Fidelity:  Institutional Short-Intermediate Government          
Portfolio Fund, U.S. Equity Index Commingled Pool Fund, U.S. Bond               
Index Portfolio Fund, Balanced Fund, Magellan Fund, and The Walt                
Disney Company Common Stock Fund.  All funds are immediately and fully          
invested in permanent funds by Fidelity.                                        

Benefits, Distributions, Withdrawals and Loans                                  
A participant's entire account balance, adjusted for investment                 
gains or losses, is available for immediate distribution upon                   
termination of employment.  Participants' account balances under                
$3,500 are automatically distributed within 90 days following the               
participant's severance date.  Participants with account balances               
of $3,500 or more must elect, within a six month period after                   
severance or withdrawal, to receive their distribution or to defer              
their distribution until reaching age 55.  All amounts must be                  
distributed when the participant reaches age 65.                                

Under Section 401(k) of the Code, withdrawals of tax-deferred                   
contributions by participants are available only in amounts                     
necessary to satisfy a financial hardship and will be made if the               
Committee determines that the reason for the hardship complies with             
applicable requirements under the Code.  A participant may withdraw             
his or her post-tax contributions twice each Plan Year.  The                    
minimum amount of each post-tax contribution withdrawal is $500.                

Participants are permitted to borrow from their accounts subject to             
certain limitations and conditions established to comply with the               
current requirements of the Code.  All loans made to participants               
are secured by their accounts with a right of set-off.  Voluntary               
post-tax contributions and any earnings thereon are not available               
for loans.  Participants may borrow up to 50 percent of their                   
account balance not to exceed $50,000 in any consecutive twelve                 
month period.  A participant may only have one loan outstanding.                

Loans may have a term of up to four years.  However, the term can               
be extended to ten years if the loan is used to acquire or                      
construct a principal residence of the participant.  The interest               
rate on loans is currently prime plus 1 percent.                                

F-7             

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DISNEY SALARIED SAVINGS AND INVESTMENT PLAN             

NOTES TO FINANCIAL STATEMENTS             
(continued)             

1.  Description of the Plan (continued)                                         

Plan Amendment or Termination                                                   
The Company reserves the right to amend or modify, at any time, the             
provisions of the Plan.  Although the Company expects to continue               
the Plan indefinitely, the Board of Directors of the Company may                
terminate the Plan for any reason.  If the Plan is terminated each              
participant will receive, as prescribed by ERISA and its related                
regulations, and in the form and manner determined by the                       
Committee, a payment equal to the value of the participant's                    
account at the time of liquidation.                                             

2.  Summary of Significant Accounting Policies                                  

Basis of Accounting                                                             
The financial statements of the Plan are prepared using the accrual             
basis of accounting.                                                            

Contribution Policy                                                             
Participants' tax-deferred contributions are deposited with the                 
Trustee at or after the end of the month in which such amounts are              
deducted from participants' compensation.  The Company currently                
contributes its matching contributions for deposit into                         
participants' accounts at the end of each month.                                

Investment Valuation                                                            
Investments in securities traded on national security exchanges are             
valued on the basis of the closing price on the last trading day of             
the year.  Investments in commingled funds are valued at the                    
redemption prices established by the Trustee, which are based on                
the market value of the fund assets.  Investments in guaranteed                 
interest contracts are valued at cost which approximates market.                

Realized Gains and Losses on Security Transactions                              
Realized gains and losses on security transactions are computed                 
based upon the sales proceeds less the fair value of the investments            
at the beginning of the year or the acquisition cost, if acquired during        
the year.                                                                       

Unrealized Appreciation/Depreciation in Fair Value of Investments               
The appreciation or depreciation in the fair value of investments               
held at year end is based on values established at the most recent              
year-end valuation date as compared to the previous year-end                    
valuation or the purchase cost if the investment was acquired                   
within the year.                                                                

F-8             

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DISNEY SALARIED SAVINGS AND INVESTMENT PLAN             

NOTES TO FINANCIAL STATEMENTS             
(continued)             

3.  Information Certified by Trustee                                            

The Trustee holds all of the Plan's assets, receives contributions              
from the Company, and executes all investment and disbursement                  
transactions based upon instructions from the Plan Administrator.               
The Plan Administrator has obtained certification from the Trustee              
that the investment information provided to the Plan Administrator              
by the Trustee is complete and accurate.  The investment                        
information included in the accompanying financial statements, in               
Notes 4, 5, 6, and 7 and in the accompanying supplemental                       
schedules, has been prepared from the data certified by the Trustee             
and includes adjustments made by the Plan Administrator for the                 
purpose of conforming the Trustee-certified financial information               
to the accrual basis of accounting.                                             

F-9             

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            DISNEY SALARIED SAVINGS AND INVESTMENT PLAN                                                       

                   NOTES TO FINANCIAL STATEMENTS                                                              
                            (continued)                                                                       

4.  Investments                                                                                               

Investments held by the Plan are as follows:                                                                  

                                     December 31, 1994                         December 31, 1993              

                             Number     Market                         Number     Market                      
                               of       Value                            of       Value                       
                             Shares/     Per                           Shares/     Per                        
                              Units   Share/Unit   Cost    Market       Units   Share/Unit    Cost    Market  
                                                                                                              
The Walt Disney Company                                                                                       
  Common Stock Fund        3,345,044  $  46.00   $108,208  $153,872  3,111,872   $42.62     $ 98,142  $132,643

Fidelity Pooled Funds:                                                                                        
  Inst. Short-Inter Gov't                                                                                     
    Portfolio Fund         2,362,063      9.18     22,985    21,684  1,755,101     9.88       17,428    17,340
  U.S. Equity Index                                                                                           
    Commingled Pool Fund   1,411,996     11.98     14,740    16,916  1,296,361    11.82       13,365    15,323
  U.S. Bond Index                                                                                             
    Portfolio Fund           231,562      9.97      2,476     2,309    142,268    11.00        1,585     1,565
  Balanced Fund              556,339     12.29      7,295     6,837    313,527    13.39        4,213     4,198
  Magellan Fund              554,282     66.80     37,297    37,026    401,293    70.85       27,004    28,432
                                                   84,793    84,772                           63,595    66,858

Guaranteed Interest                                                                                           
  Contract Fund            3,245,399      1.00      3,245     3,245  7,144,177     1.00        7,144     7,144
  Participant loans                                 7,066     7,066                            6,343     6,343

                                                 $203,312  $248,955                         $175,224  $212,988

F-10      

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                                                                [Download Table]
                 DISNEY SALARIED SAVINGS AND INVESTMENT PLAN                

                        NOTES TO FINANCIAL STATEMENTS                       
                                (continued)                                 

4.  Investments (continued)                                                 

Net unrealized appreciation/(depreciation) in the fair value of             
investments held by the Plan is as follows:                                 


                                                      December 31,          
                                                1994       1993       1992  
                                                                            
The Walt Disney Company Common Stock Fund     $11,163    $  (172)   $34,673 

Pooled Funds:                                                               
  Institutional Short-Intermediate                                          
    Government Portfolio Fund                  (1,213)      (115)        27 
  U.S. Equity Index Commingled Pool Fund          218      1,195        763 
  U.S. Bond Index Portfolio Fund                 (147)       (14)        (6)
  Balanced Fund                                  (443)        (6)        (9)
  Magellan Fund                                (1,699)     1,820       (392)
  High Growth Equity Fund                           -          -     (7,026)
  Equity Index Fund                                 -          -     (3,359)

Net Unrealized Appreciation                    $7,879     $2,708    $24,671 

F-11

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                                  DISNEY SALARIED SAVINGS AND INVESTMENT PLAN                                            

                                         NOTES TO FINANCIAL STATEMENTS                                                   
                                                 (continued)                                                             

5. Allocation of Plan Assets by Investment Program                                                                       


                                                              December 31, 1994                                          

                       The Walt     Inst.     US Equity                                                                  
                        Disney   Short-Inter    Index      US Bond                         Guaranteed                    
                       Company      Gov't     Commingled    Index                           Interest                     
                        Common    Portfolio     Pool      Portfolio    Balanced  Magellan   Contract     Loan            
                      Stock Fund    Fund        Fund        Fund         Fund      Fund       Fund       Fund     Total  
                                                                                                                         
Investments at                                                                                                           
 market value          $154,036    $ 21,723    $ 16,938    $  2,312    $  6,847  $ 37,078   $  3,245   $  6,776  $248,955

  Contributions                                                                                                          
    receivable            2,091         291         311         106         276       799          -          -     3,874

Net Assets Available                                                                                                     
  for Benefits         $156,127    $ 22,014    $ 17,249    $  2,418    $  7,123  $ 37,877   $  3,245   $  6,776  $252,829

                                    F-12

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                                   DISNEY SALARIED SAVINGS AND INVESTMENT PLAN                                           

                                           NOTES TO FINANCIAL STATEMENTS                                                 
                                                     (continued)                                                         

5. Allocation of Plan Assets by Investment Program (continued)                                                           


                                                        DECEMBER 31, 1993                                                

                       The Walt     Inst.     US Equity                                                                  
                        Disney   Short-Inter    Index      US Bond                         Guaranteed                    
                       Company      Gov't     Commingled    Index                           Interest                     
                        Common    Portfolio     Pool      Portfolio    Balanced  Magellan   Contract     Loan            
                      Stock Fund    Fund        Fund        Fund         Fund      Fund       Fund       Fund     Total  
                                                                                                                         
Investments at                                                                                                           
  market value         $132,789    $ 17,374    $ 15,345    $  1,567    $  4,203  $ 28,473   $  7,144   $  6,093  $212,988

  Contributions                                                                                                          
    receivables           2,159         345         296          80         168       634          -          -     3,682

Net Assets Available                                                                                                     
  for Benefits         $134,948    $ 17,719    $ 15,641    $  1,647    $  4,371  $ 29,107   $  7,144   $  6,093  $216,670

                    F-13

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                 DISNEY SALARIED SAVINGS AND INVESTMENT PLAN

                 NOTES TO FINANCIAL STATEMENTS
                 (continued)

6. Allocation of Plan Income and Changes in Plan Equity by Investment Program   

                                                   DECEMBER 31, 1994

                                                        [Enlarge/Download Table]

                       The Walt     Inst.    US Equity                                                                      
                        Disney   Short-Inter   Index       US Bond                           Guaranteed                     
                       Company      Gov't    Commingled     Index                             Interest                      
                        Common    Portfolio     Pool      Portfolio   Balanced    Magellan    Contract     Loan             
                      Stock Fund    Fund        Fund        Fund        Fund        Fund        Fund       Fund     Total   
                                                                                                                            

Sources of Net Assets                                                                                                       

Investment Income                                                                                                           
  Interest             $      -    $      -    $      -    $      -    $          $           $    502   $    406  $    908 
  Dividends                 931       1,249           -         139         185      1,235           -          -     3,739 
  Realized (loss) gain                                                                                                      
   on sale of assets        (86)       (196)         14         (40)        (60)      (180)          -          -      (548)
                            845       1,053          14          99         125      1,055         502        406     4,099 

Unrealized appreciation                                                                                                     
(depreciation) in                                                                                                           
investments              11,163      (1,213)        218        (147)       (443)    (1,699)          -          -     7,879 

Contributions                                                                                                               
  Participants           14,101       3,642       3,307       1,101       2,665      8,834           -          -    33,650 
  Company                 9,036           -           -           -           -          -           -          -     9,036 
                         23,137       3,642       3,307       1,101       2,665      8,834           -          -    42,686 

Total Sources            35,145       3,482       3,539       1,053       2,347      8,190         502        406    54,664 

Payments to participants 11,263       1,982       1,270         138         582      2,391         461        414    18,501 
Investment expense            -           -           -           -           -          -           4          -         4 
                         11,263       1,982       1,270         138         582      2,391         465        414    18,505 

Inter-fund Transfers     (2,703)      2,795        (661)       (144)        987      2,971      (3,936)       691         - 

Increase (decrease) in net                                                                                                  
  assets for the year    21,179       4,295       1,608         771       2,752      8,770      (3,899)       683    36,159 

Net Assets Available for                                                                                                    
  Benefits                                                                                                                  
    Beginning of year   134,948      17,719      15,641       1,647       4,371     29,107       7,144      6,093   216,670 
    End of year        $156,127      22,014      17,249       2,418       7,123     37,877       3,245      6,776   252,829 

                                  F-14

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                                   DISNEY SALARIED SAVINGS AND INVESTMENT PLAN

                                     NOTES TO FINANCIAL STATEMENTS
                                   (continued)

6. Allocation of Plan Income and Changes in Plan Equity by Investment Program   
(continued)                                                               

                                       DECEMBER 31, 1993

                                                        [Enlarge/Download Table]


                       The Walt     Inst.    US Equity                                                                      
                        Disney   Short-Inter   Index      US Bond                            Guaranteed                     
                       Company      Gov't    Commingled     Index                             Interest                      
                        Common    Portfolio     Pool      Portfolio   Balanced    Magellan    Contract      Loan            
                      Stock Fund    Fund        Fund        Fund        Fund        Fund        Fund        Fund     Total  
                                                                                                                            

Sources of Net Assets                                                                                                       

Investment Income                                                                                                           
  Interest             $      5    $      -    $      -    $      -   $       -   $      -   $    871    $    333  $  1,209 
  Dividends                 709         829           -          69         232       2,425         -           -     4,264 
  Realized (loss) gain                                                                                                      
   on sale of assets       (640)         15         110           8          29         266         -           -      (212)
                             74         844         110          77         261       2,691       871         333     5,261 

Unrealized appreciation/                                                                                                    
(depreciation) in                                                                                                           
investments                (172)       (115)      1,195         (14)         (6)      1,820         -           -     2,708 

Contributions                                                                                                               
  Participants           14,866       4,192       3,271         732       1,256       5,854         -           -    30,171 
  Company                 8,402           -           -           -           -           -         -           -     8,402 
                         23,268       4,192       3,271         732       1,256       5,854         -           -    38,573 

Total Sources            23,170       4,921       4,576         795       1,511      10,365       871         333    46,542 

Payments to participants  7,294         753         649          71         111       1,417       639         191    11,125 
Investment expense           10           -           -           -           -           6         -                    16 
                          7,304         753         649          71         111       1,423       639         191    11,141 

Inter-fund Transfers     (4,883)      2,301        (582)        543       2,300       3,227    (5,315)      2,409         - 

Increase (decrease) in net                                                                                                  
  assets for the year    10,983       6,469       3,345       1,267       3,700      12,169    (5,083)      2,551    35,401 

Net Assets Available for                                                                                                    
  Benefits                                                                                                                  
    Beginning of year   123,965      11,250      12,296         380         671      16,938    12,227       3,542   181,269 

    End of year        $134,948      17,719      15,641       1,647       4,371      29,107     7,144       6,093   216,670 

            F-15

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DISNEY SALARIED SAVINGS AND INVESTMENT PLAN   

NOTES TO FINANCIAL STATEMENTS     
(continued)       

7.  Realized Gain (Loss)                                                        

Net realized gain (loss) resulting from the sale of fund assets is              
as follows:                                                                     

                                                                [Download Table]

                                                     For the Year Ended      
                                                        December 31,         
                                                 1994       1993       1992  
                                                                             

The Walt Disney Company Common Stock Fund      $  (86)    $  (640)   $ 2,128 

Pooled Funds:                                                                
  Institutional Short-Intermediate Government                                
   Portfolio Fund                                (196)         15          2 
  U.S. Equity Index Commingled Pool Fund           14         110         13 
  U.S. Bond Index Portfolio Fund                  (40)          8          - 
  Balanced Fund                                   (60)         29         (1)
  Magellan Fund                                  (180)        266          4 
  High Growth Equity Fund                           -           -      4,529 
  Equity Index Fund                                 -           -      3,328 

Net Realized (Loss) Gain                       $ (548)    $  (212)   $10,003 

8.  Income Taxes                                                                

The Company has received an Internal Revenue Service determination letter       
stating that the Plan qualifies under Section 401(a) of the Code and is         
therefore exempt from Federal income tax under Section 501(a) of the Code.      
Since the Plan is qualified under Section 401(a) of the Code, under applicable  
state law it is exempt from state income taxes.                                 

9.  Accumulated Benefits                                                        

In accordance with guidance for accounting and disclosure by                    
employee benefit plans, participant distributions payable,                      
including loan distributions approved but not disbursed as of year              
end, are not presented as a liability in the statement of net                   
assets available for benefits or as benefit payments in the                     
statement of changes in net assets available for benefits.                      
Participant distributions payable and loan distributions approved               
but not disbursed at December 31, 1994 and 1993 are summarized as               
follows:                                                                        

                                                                [Download Table]

                                                    December 31,  
                                                  1994       1993 
                                                                  
Terminated participants                         $ 2,151    $   518
Participants' loans                                 271        201

  Total Liabilities                             $ 2,422    $   719

F-16    

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       DISNEY SALARIED SAVINGS AND INVESTMENT PLAN

      SCHEDULE I

       SCHEDULE OF ASSETS HELD FOR INVESTMENT AT
       DECEMBER 31, 1994

                                                                [Download Table]


 SHARES     DESCRIPTION OF INVESTMENTS          COST             VALUE    
                                                                          
3,345,044   The Walt Disney Company       $  108,208,186    $  153,872,004
              Common Stock Fund                                           

2,362,063   Fidelity Inst. Short-Inter        22,984,557        21,683,742
              Gov't Portfolio Fund                                        

1,411,996   Fidelity U.S. Equity Index        14,739,453        16,915,709
              Commingled Pool Fund                                        

  231,562   Fidelity U.S. Bond Index           2,476,415         2,308,672
              Portfolio Fund                                              

  556,339   Fidelity Balanced Fund             7,295,243         6,837,407

  554,282   Fidelity Magellan Fund            37,296,563        37,026,041

3,245,399   Guaranteed Interest Contract       3,245,399         3,245,399
              Fund                                                        

            Participant Loans                  7,066,166         7,066,166

                                          $  203,312,382    $  248,955,140

F-17              

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DISNEY SALARIED SAVINGS AND INVESTMENT PLAN 

SCHEDULE V    

PLAN TRANSACTIONS OR SERIES OF TRANSACTIONS 
IN EXCESS OF 5 PERCENT OF THE CURRENT VALUE OF ASSETS 
AT THE BEGINNING OF THE PLAN YEAR   

FOR THE YEAR ENDED DECEMBER 31, 1994    

                                                        [Enlarge/Download Table]


                                                     Selling      Cost of                
Description              Number of    Purchase    distribution  assets sold/             
of assets              transactions     price        price      distributed     Net gain 

                                                                                         
The Walt Disney Company                                                                  
  Common Stock Fund         118      $27,499,879                                         
                             84                   $17,347,515   $11,827,773   $ 5,519,742

Magellan Fund               210       14,511,971                                         
                             97                     4,038,151     4,014,179        23,972

Inst. Short-Inter.                                                                       
  Gov't Portfolio Fund      199       10,044,099                                         
                            163                     4,291,861     4,126,290       165,571

F-18

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Dates Referenced Herein and Documents Incorporated by Reference

		Referenced-On Page
This ‘10-K/A’ Filing	Date	First	Last	Other Filings

Filed on:	6/30/95			10-Q
	6/5/95	3
	12/31/94	1	19	10-Q
For Period End:	9/30/94			10-K
	12/31/93	1	17	10-Q
	3/4/93	7
	7/1/92	6
				List all Filings

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Filing Submission 0000029082-95-000016 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Disney Enterprises Inc – ‘10-K/A’ for 9/30/94

As of: Friday, 6/30/95 · For: 9/30/94 · Accession #: 29082-95-16 · File #: 1-04083

Previous ‘10-K’: ‘10-K’ on 12/15/94 for 9/30/94 · Next & Latest: ‘10-K’ on 12/19/95 for 9/30/95

Amendment to Annual Report — Form 10-KFiling Table of Contents

Dates Referenced Herein and Documents Incorporated by Reference

Amendment to Annual Report — Form 10-K
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