Although the film grossed nearly $300 million worldwide, it lost a considerable amount of money due to its cost. At the time of its release, Disney claimed the film's production budget was $250 million, although tax returns released in 2014 revealed its exact budget was $263.7 million after taking tax credits into account. Before the film opened, analysts predicted the film would be a huge financial failure due to its exorbitant combined production and marketing costs of $350 million, with Paul Dergarabedian, president of Hollywood.com, noting ""John Carter"'s bloated budget would have required it to generate worldwide tickets sales of more than $600 million to break even ... a height reached by only 63 films in the history of moviemaking". On May 8, 2012, the Walt Disney Company released a statement on its earnings which attributed the $161 million deterioration in the operating income of their Studio Entertainment division to a loss of $84 million in the quarter ending March 2012 "primarily" to the performance of "John Carter" and the associated cost write-down. The film resulted in a $200 million writedown for Disney, ranking it among the biggest box-office bombs of all time.