The Walt Disney Company 2003 Annual Report
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(In millions, except per share data) 2003  2002

Revenues
$27,061
 $25,329
Segment operating income
3,174
  2,822
Diluted earnings per share before the cumulative effect
of accounting changes
0.65
  0.60
Cash flow provided by operations
2,901
  2,286
Borrowings
Total
Net(1)

13,100
11,517
 
14,130
12,891
Stockholders' equity
23,791
  23,445
(1)Net borrowings represent total borrowings of $13,100 million less cash and cash equivalents of $1,583 million.
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