“We are also seeing continued cost pressures in the fourth quarter, predominantly from labor wage rate growth, coupled with $150 million of remaining accelerated depreciation for the Galactic Starcruiser.”

In context

“against last year's strong trends coming out of the 50th anniversary at Walt Disney World. Per cap spending was comparable to the prior year with contributions from pricing, Genie+ and higher food and beverage spend offset by attendance composition changes and lower merchandise spend. Excluding the impact of the Starcruiser accelerated depreciation, domestic parks and Experiences operating margins in Q3 were roughly 3 percentage points below the prior year, and DPEP margins were slightly higher than the prior year. We continue to expect some moderation in demand at our domestic parks, as we compare against our highly successful 50th anniversary celebration at Walt Disney World and the burn-off of pent-up demand persists, while elevated travel costs are impacting international visitation. We are also seeing continued cost pressures in the fourth quarter, predominantly from labor wage rate growth, coupled with $150 million of remaining accelerated depreciation for the Galactic Starcruiser. However, we still expect all-in Q4 operating margins at DPEP to exceed the prior year due to the ongoing strength of recovery at our international parks and Cruise Line. Putting this all together, excluding the impact of accelerated depreciation for the Starcruiser, we are still expecting full year total company revenue and segment operating income to grow at a high-single digit percentage rate versus the prior year. We currently expect fiscal 2023 content spend to come in at approximately $27 billion, which is lower than we previously guided due to lower spend on produced content, in part due to the writers' and actors' strikes. We now expect capital expenditures for the year to total $5 billion. This is lower than our prior guide, primarily due to spending timing shifts for various proj”