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4 MERNOUSH BANTON

EXHIBIT 3 Consolidated Balance Sheets (in millions, except per share data)
September 27, September 29,
2008 2007
ASSETS
Current assets
Cash and cash equivalents $ 3,001 $ 3,670
Receivables 5,373 5,032
Inventories 1,124 641
Television costs 541 559
Deferred income taxes 1,024 862
Other current assets 603 550
Total current assets 11,666 11,314
Film and television costs 5,394 5,123
Investments 1,563 995
Parks, resorts and other property, at cost
Attractions, buildings and equipment 31,493 30,260
Accumulated depreciation (16,310) (15,145)
15,183 15,115
Projects in progress 1,169 1,147
Land 1,180 1,171

17,532 17,433
Intangible assets, net 2,428 2,494
Goodwill 22,151 22,085
Other assets 1,763 1,484
Total Assets $ 62,497 $ 60,928

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable and other accrued liabilities $ 5,980 $ 5,949
Current portion of borrowings 3,529 3,280
Unearned royalties and other advances 2,082 2,162
Total current liabilities 11,591 11,391
Borrowings 11,110 11,892
Deferred income taxes 2,350 2,573
Other long-term liabilities 3,779 3,024
Minority interests 1,344 1,295
Commitments and contingencies
Shareholder’s equity
Preferred stock, $.01 par value Authorized–100 million shares,
Issued–none — —
Common stock, $.01 par value Authorized–3.6 billion shares,
Issued–2.6 billion shares 26,546 24,207
Retained earnings 28,413 24,805
Accumulated other comprehensive loss (81) (157)
54,878 48,855
Treasury stock, at cost, 777.1 million shares at September 27, 2008,
and 637.8 million shares at September 29, 2007 (22,555) (18,102)
32,323 30,753
Total Liabilities and SE $ 62,497 $ 60,928

Source: Walt Disney Company, Annual Report (2008).