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  "docSlug": "90f942664dc4b257b81b443a064a153d",
  "documentTitle": "Disney | Shareholder Engagement Presentation Deck | 66 slides",
  "authorId": "disney",
  "authorName": "The Walt Disney Company",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
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  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2024-03-01 00:00:00",
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  "pageNumber": 24,
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  "density": "balanced",
  "nDataPoints": 5,
  "notes": "Slide 6 of an activist deck, likely from Disney management defending their capital allocation track record.",
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      "kind": "chart",
      "text": "AVERAGE RETURN OF CAPITAL DURING IGER'S CEO TENURE ($BN)",
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      "text": "SIGNIFICANTLY IMPROVING FCF PROFILE POST-COVID ($BN)",
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      "text": "Disney has long maintained a disciplined and balanced approach to capital allocation. As a result of the global pandemic, we suspended our dividend in Spring 2020. We are trending to exceed our FY24 free cash flow guidance of ~$8bn. We have re-initiated our capital return program.",
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      "kind": "source-note",
      "text": "Source: Company data, FactSet. Free cash flow reflects cash provided by operations less investments in parks, resorts and other property.",
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      "text": "Disney restored robust FCF, enabling capital return to shareholders",
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