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Long-Term Debt | 9 Months Ended
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Sep. 30, 2014
Long-Term Debt | Note 7: Long-Term Debt As of September 30, 2014, our debt had a carrying value of $48.4 billion and an estimated fair value of $54.4 billion. The estimated fair value of our publicly traded debt is primarily based on Level 1 inputs that use quoted market values for the debt. The estimated fair value of debt for which there are no quoted market prices is based on Level 2 inputs that use interest rates available to us for debt with similar terms and remaining maturities. Debt Borrowings In Fe bruary 201 4, we issued $1.2 billion aggregate principal amount of 3.60% senior notes due 202 4 and $1 billion aggregate principal amount of 4.75% senior notes due 20 44. The proceeds from this offering were used for working capital and general corporate purp oses, including the repayment of a portion of our outstanding commercial paper and $900 million aggregate principal amount of our 2.10% senior notes due April 2014 at maturity. In August 2014, we issued $1 billion aggregate principal amount of 3.375% senio r notes due 2025 and $1 billion aggregate principal amount of 4.20% senior notes due 2034. The proceeds from this offering were used for working capital and general corporate purposes, which may, in the future, include the repayment of certain of our senio r notes. Debt Repayments In January 2014, w e repaid at maturity $1 billion aggregate principal amount of 5.30% senior notes due 20 14. In February 2014, we repaid $1.25 billion of borrowings outstanding under NBCUniversal Enterprise Inc.’s (“NBCUniversal E nterprise”) revolving credit facility with the proceeds from $990 million of borrowings under its new commercial paper program and cash on hand. Revolving Credit Facilities As of September 30, 2014, amounts available under our consolidated revolving credit facilities, net of amounts outstanding under our commercial paper programs and outstanding letters of credit, totaled $6.4 billion, which included $440 million available under NBCUniversal Enterprise’s revolving cred it facility. Commercial Paper Progra m s In February 2014, NBCUniversal Enterprise entered into a commercial paper program. The maximum borrowing capacity under this commercial paper program is $1.35 billion, and it is supported by NBCUniversal Enterprise’s existing $1.35 billion revolving credit facility due March 2018. The commercial paper program is fully and unconditionally guaranteed by us and our 100% owned cable holding company subsidiaries, Comcast Cable Communications, LLC (“CCCL Parent”), Comcast MO Group, Inc. (“Comcast MO Group”), Comcast Cable Holdings, LLC (“CCH”) and Comcast MO of Delaware, LLC (“Comcast MO of Delaware”) (collectively, the “cable guarantors”). As of September 30, 2014, NBCUniversal Enterprise had $910 million face amount of commercial paper outstanding.
NBCUniversal Media, LLC [Member] |
Long-Term Debt | Note 6: Long-Term Debt As of September 30, 2014, our debt, excluding the note payable to Comcast, had a carrying value of $10.3 billion and an estimated fair value of $11.3 billion. The estimated fair value of our publicly traded debt is based primarily on Level 1 inputs that use quoted market va lues for the debt. T he estimated fair value of debt for which there are no quoted market prices is based on Level 2 inputs that use interest rates available to us for debt with similar terms and remaining maturities. Debt Repayments In April 2014, we repaid $900 million aggregate principal amount of 2.10% senior notes due April 2014 at maturity. Cross-Guarantee Structure In 2013, we, Comcast and certain of Comcast’s 100% owned cable holding company subsidiaries (the “cable guarantors”) entered into a series of agreements and supplemental indentures to include us as a part of Comcast’s existing cross-guarantee structure. As members of the cross-guarantee structure, Comcast and the cable guarantors fully and unconditionally guarantee our public debt securities, and we fully and unconditionally guarantee all of Comcast’s and the cable guarantors’ public debt securities. As of September 30, 2014, we guaranteed $32.6 billion of outstanding debt securities of Comcast and the cable guarantors. We also fully and unconditionally guarantee the $6.25 billion Comcast revolving credit facility due 2017, of which no amounts were outstanding as of September 30, 2014. We do not, however, guarantee the obligations of NBCUniversal Enterprise with respect to its $4 billion aggregate principal amount of senior notes, $1.35 billion revolving credit facility and associated commerci al paper program, or $725 million liquidation preference of Series A cumulative preferred stock.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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