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Financial Data by Business Segment
 12 Months Ended
Dec. 31, 2013
Financial Data by Business Segment

Note 19: Financial Data by Business Segment

We present our operations in one reportable business segment for Cable Communications and four reportable business segments for NBCUniversal. The Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks segments comprise the NBCUniversal businesses and are collectively referred to as the “NBCUniversal segments.” Our financial data by reportable business segment is presented in the tables below.

(in millions) Revenue(f) Operating Income (Loss) Before Depreciation and Amortization(g) Depreciation and Amortization Operating Income (Loss) Capital Expenditures Assets
2013            
Cable Communications(a)$ 41,836$ 17,205$ 6,394$ 10,811$ 5,403$ 132,082
NBCUniversal            
 Cable Networks  9,201  3,501  734  2,767  67  29,413
 Broadcast Television  7,120  345  98  247  65  6,723
 Filmed Entertainment  5,452  483  15  468  9  3,549
 Theme Parks  2,235  1,004  300  704  580  6,608
 Headquarters and Other(d)  31  (588)  264  (852)  439  6,002
 Eliminations(e)  (389)  (13)  -  (13)  -  (556)
NBCUniversal  23,650  4,732  1,411  3,321  1,160  51,739
Corporate and Other  600  (489)  66  (555)  33  8,152
Eliminations(e)  (1,429)  (14)  -  (14)  -  (33,160)
Comcast Consolidated$ 64,657$ 21,434$ 7,871$ 13,563$ 6,596$ 158,813
              
(in millions) Revenue(f) Operating Income (Loss) Before Depreciation and Amortization(g) Depreciation and Amortization Operating Income (Loss) Capital Expenditures Assets
2012            
Cable Communications(a)$ 39,604$ 16,255$ 6,405$ 9,850$ 4,921$ 127,044
NBCUniversal            
 Cable Networks  8,727  3,303  735  2,568  150  29,636
 Broadcast Television(b)  8,200  358  97  261  65  6,414
 Filmed Entertainment  5,159  79  16  63  7  3,769
 Theme Parks  2,085  953  268  685  272  6,266
 Headquarters and Other(d)  43  (603)  210  (813)  269  8,938
 Eliminations(e)  (402)  17  -  17  -  (561)
NBCUniversal  23,812  4,107  1,326  2,781  763  54,462
Corporate and Other  498  (376)  67  (443)  30  6,000
Eliminations(e)  (1,344)  (9)  -  (9)  -  (22,535)
Comcast Consolidated$ 62,570$ 19,977$ 7,798$ 12,179$ 5,714$ 164,971

(in millions) Revenue(f) Operating Income (Loss) Before Depreciation and Amortization(g) Depreciation and Amortization Operating Income (Loss) Capital Expenditures
2011          
Cable Communications(a)$ 37,226$ 15,288$ 6,395$ 8,893$ 4,806
NBCUniversal          
 Cable Networks  8,061  3,199  712  2,487  48
 Broadcast Television  5,982  124  85  39  61
 Filmed Entertainment  4,239  27  19  8  6
 Theme Parks(c)  1,874  830  201  629  154
 Headquarters and Other(d)  45  (484)  168  (652)  165
 Eliminations(e)  (941)  (234)  (53)  (181)  -
NBCUniversal  19,260  3,462  1,132  2,330  434
Corporate and Other  558  (416)  93  (509)  67
Eliminations(e)  (1,202)  23  16  7  -
Comcast Consolidated$ 55,842$ 18,357$ 7,636$ 10,721$ 5,307

(a)        For the years ended December 31, 2013, 2012 and 2011, Cable Communications segment revenue was derived from the following sources:

  2013 2012 2011 
Residential:      
 Video 49.1%50.4%52.3%
 High-speed Internet 24.7%24.1%23.5%
 Voice 8.7%9.0%9.4%
Business services 7.7%6.5%5.2%
Advertising 5.2%5.8%5.4%
Other 4.6%4.2%4.2%
Total100%100%100%

Subscription revenue received from customers who purchase bundled services at a discounted rate is allocated proportionally to each service based on the individual service's price on a stand-alone basis. Beginning in 2013, revenue from certain business customers, such as hotels, restaurants and bars, is presented in business services revenue rather than in video revenue. Reclassifications have been made to the prior year periods to conform to this presentation.

For each of 2013, 2012 and 2011, 2.8% of Cable Communications revenue was derived from franchise and other regulatory fees.

(b)        For 2012, our Broadcast Television segment included all revenue and costs and expenses associated with our broadcast of the 2012 London Olympics, which generated $120 million of operating income before depreciation and amortization. This amount reflects the settlement of a $237 million liability associated with the unfavorable Olympics contract that had been recorded through the application of acquisition accounting in 2011.

(c)       For the period January 29, 2011 through June 30, 2011, we recorded Universal Orlando as an equity method investment in our consolidated results of operations. However, our Theme Parks segment included the results of operations for Universal Orlando for the period January 29, 2011 through June 30, 2011 to reflect our measure of operating performance for our Theme Parks segment.

(d) NBCUniversal Headquarters and Other activities includes costs associated with overhead, allocations, personnel costs and headquarter initiatives.

(e)       Included in Eliminations are transactions that our segments enter into with one another. The most common types of transactions are the following:

•       our Cable Networks and Broadcast Television segments generate revenue by selling programming to our Cable Communications segment, which represents a substantial majority of the revenue elimination amount

•       our Cable Communications segment generates revenue by selling advertising and by selling the use of satellite feeds to our Cable Networks segment

• our Filmed Entertainment and Broadcast Television segments generate revenue by licensing content to our Cable Networks segment

•       our Cable Communications segment receives incentives offered by our Cable Networks segment in connection with its distribution of the Cable Networks' content that are recorded as a reduction to programming expenses

NBCUniversal eliminations for 2011 included the eliminations of the results of operations for Universal Orlando for the period January 29, 2011 through June 30, 2011. These amounts were not included in NBCUniversal's total and our consolidated results of operations for the period January 29, 2011 through June 30, 2011 because we recorded Universal Orlando as an equity method investment during this period.

  • Revenue from customers located outside of the U.S., primarily in Europe and Asia, for the years ended December 31, 2013, 2012 and 2011 was $4.8 billion, $4.5 billion and $4.1 billion, respectively. No single customer accounted for a significant amount of our revenue in any period.
  • We use operating income (loss) before depreciation and amortization, excluding impairment charges related to fixed and intangible assets and gains or losses from the sale of assets, if any, as the measure of profit or loss for our operating segments. This measure eliminates the significant level of noncash depreciation and amortization expense that results from the capital-intensive nature of certain of our businesses and from intangible assets recognized in business combinations. Additionally, it is unaffected by our capital structure or investment activities. We use this measure to evaluate our consolidated operating performance and the operating performance of our operating segments and to allocate resources and capital to our operating segments. It is also a significant performance measure in our annual incentive compensation programs. We believe that this measure is useful to investors because it is one of the bases for comparing our operating performance with that of other companies in our industries, although our measure may not be directly comparable to similar measures used by other companies. This measure should not be considered a substitute for operating income (loss), net income (loss) attributable to Comcast Corporation, net cash provided by operating activities, or other measures of performance or liquidity we have reported in accordance with GAAP.

 

 
NBCUniversal Media, LLC [Member]
  
Financial Data by Business Segment

Note 18: Financial Data by Business Segment

We present our operations in four reportable business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks. Our financial data by reportable business segment is presented in the tables below.

Successor (in millions) Revenue(e)(g) Operating Income (Loss) Before Depreciation and Amortization(f) Depreciation and Amortization Operating Income (Loss) Capital Expenditures Assets
2013            
 Cable Networks$ 9,201$ 3,501$ 734$ 2,767$ 67$ 29,413
 Broadcast Television  7,120  345  98  247  65  6,723
 Filmed Entertainment  5,452  483  15  468  9  3,549
 Theme Parks  2,235  1,004  300  704  580  6,608
 Headquarters and Other(c)  31  (588)  264  (852)  439  6,002
 Eliminations(d)  (389)  (13)  -  (13)  -  (556)
Total$ 23,650$ 4,732$ 1,411$ 3,321$ 1,160$ 51,739
              
Successor (in millions) Revenue(e)(g) Operating Income (Loss) Before Depreciation and Amortization(f) Depreciation and Amortization Operating Income (Loss) Capital Expenditures Assets
2012            
 Cable Networks$ 8,727$ 3,303$ 735$ 2,568$ 150$ 29,636
 Broadcast Television(a)  8,200  358  97  261  65  6,414
 Filmed Entertainment  5,159  79  16  63  7  3,769
 Theme Parks  2,085  953  268  685  272  6,266
 Headquarters and Other(c)  43  (603)  210  (813)  269  8,938
 Eliminations(d)  (402)  17  -  17  -  (561)
Total$ 23,812$ 4,107$ 1,326$ 2,781$ 763$ 54,462

Successor (in millions) Revenue(e)(g) Operating Income (Loss) Before Depreciation and Amortization(f) Depreciation and Amortization Operating Income (Loss) Capital Expenditures
For the Period January 29, 2011 to December 31, 2011          
 Cable Networks$ 7,829$ 3,133$ 694$ 2,439$ 46
 Broadcast Television  5,982  124  85  39  61
 Filmed Entertainment  4,239  27  19  8  6
 Theme Parks(b)  1,874  830  201  629  154
 Headquarters and Other(c)  45  (484)  114  (598)  165
 Eliminations(d)  (941)  (234)  -  (234)  -
Total$ 19,028$ 3,396$ 1,113$ 2,283$ 432
            
Predecessor (in millions) Revenue(e)(g) Operating Income (Loss) Before Depreciation and Amortization(f) Depreciation and Amortization Operating Income (Loss) Capital Expenditures
For the Period January 1, 2011 to January 28, 2011          
 Cable Networks$ 385$ 145$ 3$ 142$ 1
 Broadcast Television  468  (18)  6  (24)  1
 Filmed Entertainment  353  1  2  (1)  1
 Theme Parks(b)  115  37  14  23  9
 Headquarters and Other(c)  5  (99)  2  (101)  4
 Eliminations(d)  (120)  (31)  -  (31)  -
Total$ 1,206$ 35$ 27$ 8$ 16

  • For 2012, our Broadcast Television segment included all revenue and costs and expenses associated with our broadcast of the 2012 London Olympics, which generated $120 million of operating income before depreciation and amortization. This amount reflects the settlement of a $237 million liability associated with the unfavorable Olympics contract that had been recorded through the application of acquisition accounting in 2011.
  • For the periods January 1, 2011 through January 28, 2011 and January 29, 2011 through June 30, 2011, our Theme Parks segment included the results of operations for Universal Orlando to reflect our measure of operating performance for our Theme Parks segment.
  • Headquarters and Other activities includes costs associated with overhead, allocations, personnel costs and corporate initiatives.
  • Eliminations for the periods January 1, 2011 through January 28, 2011 and January 29, 2011 through June 30, 2011 included the eliminations of the results of operations for Universal Orlando for these periods. These results were not included in our consolidated results of operations because we recorded Universal Orlando as an equity method investment during those periods.

    Also included in Eliminations are transactions that our segments enter into with one another, which consisted primarily of the licensing of film and television content from our Filmed Entertainment and Broadcast Television segments to our Cable Networks segment.

  • No single customer accounted for a significant amount of revenue in any period.
  • We use operating income (loss) before depreciation and amortization, excluding impairment charges related to fixed and intangible assets and gains or losses from the sale of assets, if any, as the measure of profit or loss for our operating segments. This measure eliminates the significant level of noncash amortization expense that results from intangible assets recognized in connection with the Joint Venture transaction and other business combinations. Additionally, it is unaffected by our capital structure or investment activities. We use this measure to evaluate our consolidated operating performance and the operating performance of our operating segments and to allocate resources and capital to our operating segments. It is also a significant performance measure in our annual incentive compensation programs. We believe that this measure is useful to investors because it is one of the bases for comparing our operating performance with that of other companies in our industries, although our measure may not be directly comparable to similar measures used by other companies. This measure should not be considered a substitute for operating income (loss), net income (loss) attributable to NBCUniversal, net cash provided by operating activities, or other measures of performance or liquidity we have reported in accordance with GAAP.
  • We operate primarily in the United States, but also in select international markets primarily in Europe and Asia. The table below summarizes revenue by geographic location.

 

  Successor  Predecessor
   Year Ended December 31,  Year Ended December 31,  For the Period January 29, 2011 to December 31, 2011  For the Period January 1, 2011 to January 28, 2011
 (in millions) 2013 2012    
 Revenue:          
  United States$ 18,887$ 19,348$ 14,927  $ 935
  Foreign$ 4,763$ 4,464$ 4,101  $ 271