Tax regulations will allow Disney to recover the write-down in value of the Galactic Starcruiser hotel and, in the process, pay less tax on the property overall. Though on the surface, this depreciation may sound negative, the company is pleased with the value reduction because of taxation. “I don’t think we’ve talked about this before, but in both Q3 and Q4 as we accelerate depreciation on that Starcruiser, we should expect about $100-150 million acceleration in depreciation,” stated D’Amaro. Excess earnings are now expected to be 22,000 a capitalization rate of 25 is deemed appropriate for valuation purposes. Speaking during the recent JP Morgan Global Technology, Media & Communications Conference, D’Amaro reported the closure of the Star Wars: Galactic Starcruiser this fall will enable Disney to claim a tax write-off of approximately $300 million.įollowing the hotel’s closure, depreciation is expected to accelerate at a rate of $100 million to $150 million per quarter over a span of two quarters. Total SE announced an 8.1 billion writedown after the push to curb carbon emissions and the coronavirus pandemic challenged assumptions about the long-term viability of some oil and gas assets. Disney Parks Chairman Josh D’Amaro states that although the experience did not perform as well as Disney had hoped, it will ultimately lead to a significant tax break for the company. Last week Disney announced that Star Wars: Galactic Starcruiser will permanently close in September 2023.
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