 |
The Company defines "net borrowings" as total borrowings less cash and cash equivalents. The consolidation of Euro Disney and Hong Kong Disneyland pursuant to FIN 46R increases net borrowings because the borrowings of those operations are now included in our consolidated borrowings, so for comparability purposes, we also look at net borrowings excluding net borrowings of those operations. Net borrowings and net borrowings excluding net borrowings of Euro Disney and Hong Kong Disneyland are non-GAAP financial metrics. The following table reconciles total borrowings to net borrowings and net borrowings excluding the net borrowings of Euro Disney and Hong Kong Disneyland.
| As of September 30 |
2000 |
2001 |
2002 |
2003 |
2004 |
 |
Current borrowings
Long-term
borrowings
|
$2,502
6,959 |
$829
8,940 |
$1,663
12,467 |
$2,457
10,643 |
$4,093
9,395 |
|
|
Total borrowings
Cash and cash
equivalents |
$9,461
(842) |
$9,769
(618) |
$14,130
(1,239) |
$13,100
(1,583) |
$13,488
(2,042) |
|
|
Net borrowings
Less net borrowings
of Euro Disney
and Hong Kong
Disneyland
|
$8,619
— |
$9,151
— |
$12,891
— |
$11,517
— |
$11,446
(2,454) |
|
|
Net borrowings
excluding Euro
Disney and
Hong Kong
Disneyland |
$ 8,619 |
$ 9,151 |
$ 12,891 |
$ 11,517 |
$ 8,992 |
|
|
|
|
 |
