v2.4.0.8

Condensed Consolidating Financial Information

9 Months Ended

Sep. 30, 2014

Condensed Consolidating Financial Information [Abstract]

Condensed Consolidating Financial Information

Note 14: Condensed Consolidating Financial Information

Comcast Corporation (“Comcast Parent”), our cable guarantors and NBCUniversal Media, LLC (referred to as “NBCUniversal Media Parent” in the tables below) have fully and unconditionally guaranteed each other’s debt securities. Comcast MO Group, CCH and Comcast MO of Delaware are collectively referred to as the “Combined CCHMO Parents.”

Comcast Parent and the cable guarantors also fully and unconditionally guarantee NBCUniversal Enterprise’s $4 billion aggregate principal amount of senior notes, its $1.35 billion revolving credit facility due March 2018 and the associated commercial paper program. NBCUniversal Media Parent does not guarantee the NBCUniversal Enterprise senior notes, credit facility or commercial paper program.

Comcast Parent provides an unconditional subordinated guarantee of the $185 million principal amount currently outstanding of Comcast Holdings’ ZONES due October 2029. Neither the cable guarantors nor NBCUniversal Media Parent guarantee the Comcast Holdings’ ZONES due October 2029. None of Comcast Parent, the cable guarantors nor NBCUniversal Media Parent guarantee the $62 million principal amount currently outstanding of Comcast Holdings’ ZONES due November 2029.

Condensed Consolidating Balance Sheet
September 30, 2014
(in millions)			Comcast Parent		Comcast Holdings		CCCL Parent		Combined CCHMO Parents		NBCUniversal Media Parent		Non- Guarantor Subsidiaries		Elimination and Consolidation Adjustments		Consolidated Comcast Corporation
Assets
	Cash and cash equivalents	$	-	$	-	$	-	$	-	$	196	$	4,351	$	-	$	4,547
	Investments		-		-		-		-		5		526		-		531
	Receivables, net		-		-		-		-		-		6,172		-		6,172
	Programming rights		-		-		-		-		-		992		-		992
	Other current assets		222		-		-		-		43		1,429		-		1,694
Total current assets			222		-		-		-		244		13,470		-		13,936
Film and television costs			-		-		-		-		-		5,560		-		5,560
Investments			21		-		-		-		373		2,735		-		3,129
Investments in and amounts due from subsidiaries eliminated upon consolidation			84,503		103,462		110,327		59,160		41,038		95,665		(494,155)		-
Property and equipment, net			202		-		-		-		-		30,160		-		30,362
Franchise rights			-		-		-		-		-		59,364		-		59,364
Goodwill			-		-		-		-		-		27,323		-		27,323
Other intangible assets, net			9		-		-		-		-		17,080		-		17,089
Other noncurrent assets, net			1,187		148		-		-		94		2,059		(1,014)		2,474
Total assets		$	86,144	$	103,610	$	110,327	$	59,160	$	41,749	$	253,416	$	(495,169)	$	159,237
Liabilities and Equity
	Accounts payable and accrued expenses related to  trade creditors	$	11	$	-	$	-	$	-	$	-	$	5,669	$	-	$	5,680
	Accrued participations and residuals		-		-		-		-		-		1,444		-		1,444
	Accrued expenses and other current liabilities		1,374		283		347		21		415		3,997		-		6,437
	Current portion of long-term debt		900		-		-		679		1,008		936		-		3,523
Total current liabilities			2,285		283		347		700		1,423		12,046		-		17,084
Long-term debt, less current portion			28,401		131		1,827		822		9,219		4,427		-		44,827
Deferred income taxes			-		719		-		-		59		32,319		(870)		32,227
Other noncurrent liabilities			2,160		-		-		-		945		7,427		(144)		10,388
Redeemable noncontrolling interests and redeemable subsidiary preferred stock			-		-		-		-		-		1,058		-		1,058
Equity:
	Common stock		30		-		-		-		-		-		-		30
	Other shareholders’ equity		53,268		102,477		108,153		57,638		30,103		195,784		(494,155)		53,268
Total Comcast Corporation
	shareholders’ equity		53,298		102,477		108,153		57,638		30,103		195,784		(494,155)		53,298
Noncontrolling interests			-		-		-		-		-		355		-		355
Total equity			53,298		102,477		108,153		57,638		30,103		196,139		(494,155)		53,653
Total liabilities and equity		$	86,144	$	103,610	$	110,327	$	59,160	$	41,749	$	253,416	$	(495,169)	$	159,237

Condensed Consolidating Balance Sheet
December 31, 2013
(in millions)			Comcast Parent		Comcast Holdings		CCCL Parent		Combined CCHMO Parents		NBCUniversal Media Parent		Non- Guarantor Subsidiaries		Elimination and Consolidation Adjustments		Consolidated Comcast Corporation
Assets
	Cash and cash equivalents	$	-	$	-	$	-	$	-	$	336	$	1,382	$	-	$	1,718
	Investments		-		-		-		-		-		3,573		-		3,573
	Receivables, net		-		-		-		-		-		6,376		-		6,376
	Programming rights		-		-		-		-		-		928		-		928
	Other current assets		237		-		-		-		35		1,208		-		1,480
Total current assets			237		-		-		-		371		13,467		-		14,075
Film and television costs			-		-		-		-		-		4,994		-		4,994
Investments			11		-		-		-		374		3,385		-		3,770
Investments in and amounts due from subsidiaries eliminated upon consolidation			79,956		97,429		102,673		54,724		40,644		85,164		(460,590)		-
Property and equipment, net			220		-		-		-		-		29,620		-		29,840
Franchise rights			-		-		-		-		-		59,364		-		59,364
Goodwill			-		-		-		-		-		27,098		-		27,098
Other intangible assets, net			11		-		-		-		-		17,318		-		17,329
Other noncurrent assets, net			1,078		145		-		-		103		1,899		(882)		2,343
Total assets		$	81,513	$	97,574	$	102,673	$	54,724	$	41,492	$	242,309	$	(461,472)	$	158,813
Liabilities and Equity
	Accounts payable and accrued expenses related to trade creditors	$	8	$	-	$	-	$	-	$	-	$	5,520	$	-	$	5,528
	Accrued participations and residuals		-		-		-		-		-		1,239		-		1,239
	Accrued expenses and other current liabilities		1,371		266		180		47		323		6,678		-		8,865
	Current portion of long-term debt		2,351		-		-		-		903		26		-		3,280
Total current liabilities			3,730		266		180		47		1,226		13,463		-		18,912
Long-term debt, less current portion			25,170		132		1,827		1,505		10,236		5,697		-		44,567
Deferred income taxes			-		777		-		-		59		31,840		(741)		31,935
Other noncurrent liabilities			1,919		-		-		-		931		8,675		(141)		11,384
Redeemable noncontrolling interests and redeemable subsidiary preferred stock			-		-		-		-		-		957		-		957
Equity:
	Common stock		30		-		-		-		-		-		-		30
	Other shareholders’ equity		50,664		96,399		100,666		53,172		29,040		181,313		(460,590)		50,664
Total Comcast Corporation shareholders’ equity			50,694		96,399		100,666		53,172		29,040		181,313		(460,590)		50,694
Noncontrolling interests			-		-		-		-		-		364		-		364
Total equity			50,694		96,399		100,666		53,172		29,040		181,677		(460,590)		51,058
Total liabilities and equity		$	81,513	$	97,574	$	102,673	$	54,724	$	41,492	$	242,309	$	(461,472)	$	158,813

Condensed Consolidating Statement of Income
For the Three Months Ended September 30, 2013
(in millions)			Comcast Parent		Comcast Holdings		CCCL Parent		Combined CCHMO Parents		NBCUniversal Media Parent		Non- Guarantor Subsidiaries		Elimination and Consolidation Adjustments		Consolidated Comcast Corporation
Revenue:
	Service revenue	$	-	$	-	$	-	$	-	$	-	$	16,151	$	-	$	16,151
	Management fee revenue		225		-		219		137		-		-		(581)		-
			225		-		219		137		-		16,151		(581)		16,151
Costs and Expenses:
	Programming and production		-		-		-		-		-		4,787		-		4,787
	Other operating and administrative		92		-		219		137		211		4,673		(581)		4,751
	Advertising, marketing and promotion		-		-		-		-		-		1,283		-		1,283
	Depreciation		7		-		-		-		-		1,513		-		1,520
	Amortization		1		-		-		-		-		395		-		396
			100		-		219		137		211		12,651		(581)		12,737
Operating income (loss)			125		-		-		-		(211)		3,500		-		3,414
Other Income (Expense):
	Interest expense		(382)		(3)		(45)		(30)		(123)		(56)		-		(639)
	Investment income (loss), net		1		(5)		-		-		(3)		471		-		464
	Equity in net income (losses) of
	investees, net		1,898		1,787		1,850		1,371		576		106		(7,718)		(130)
	Other income (expense), net		-		-		-		-		-		(310)		-		(310)
			1,517		1,779		1,805		1,341		450		211		(7,718)		(615)
Income (loss) before income taxes			1,642		1,779		1,805		1,341		239		3,711		(7,718)		2,799
Income tax (expense) benefit			90		3		15		11		(3)		(1,137)		-		(1,021)
Net income (loss)			1,732		1,782		1,820		1,352		236		2,574		(7,718)		1,778
Net (income) loss attributable
	to noncontrolling interests and redeemable subsidiary preferred stock		-		-		-		-		-		(46)		-		(46)
Net income (loss)
	attributable to Comcast Corporation	$	1,732	$	1,782	$	1,820	$	1,352	$	236	$	2,528	$	(7,718)	$	1,732
Comprehensive
	income (loss) attributable to Comcast Corporation	$	1,545	$	1,828	$	1,864	$	1,415	$	244	$	2,327	$	(7,678)	$	1,545

Condensed Consolidating Statement of Income
For the Nine Months Ended September 30, 2013
(in millions)			Comcast Parent		Comcast Holdings		CCCL Parent		Combined CCHMO Parents		NBCUniversal Media Parent		Non- Guarantor Subsidiaries		Elimination and Consolidation Adjustments		Consolidated Comcast Corporation
Revenue:
	Service revenue	$	-	$	-	$	-	$	-	$	-	$	47,731	$	-	$	47,731
	Management fee revenue		668		-		650		407		-		-		(1,725)		-
			668		-		650		407		-		47,731		(1,725)		47,731
Costs and Expenses:
	Programming and production		-		-		-		-		-		14,418		-		14,418
	Other operating and administrative		291		-		650		407		641		13,523		(1,725)		13,787
	Advertising, marketing and promotion		-		-		-		-		-		3,737		-		3,737
	Depreciation		22		-		-		-		-		4,647		-		4,669
	Amortization		4		-		-		-		-		1,200		-		1,204
			317		-		650		407		641		37,525		(1,725)		37,815
Operating income (loss)			351		-		-		-		(641)		10,206		-		9,916
Other Income (Expense):
	Interest expense		(1,141)		(8)		(169)		(96)		(366)		(148)		-		(1,928)
	Investment income (loss), net		3		(2)		-		-		(2)		550		-		549
	Equity in net income
	(losses) of investees, net		5,416		5,438		5,448		3,982		2,236		1,118		(23,734)		(96)
	Other income (expense), net		(2)		-		2		-		-		(280)		-		(280)
			4,276		5,428		5,281		3,886		1,868		1,240		(23,734)		(1,755)
Income (loss) before income taxes			4,627		5,428		5,281		3,886		1,227		11,446		(23,734)		8,161
Income tax (expense) benefit			276		4		58		34		(13)		(3,353)		-		(2,994)
Net income (loss)			4,903		5,432		5,339		3,920		1,214		8,093		(23,734)		5,167
Net (income) loss attributable
	to noncontrolling interests and redeemable subsidiary preferred stock		-		-		-		-		-		(264)		-		(264)
Net income (loss) attributable
	to Comcast Corporation	$	4,903	$	5,432	$	5,339	$	3,920	$	1,214	$	7,829	$	(23,734)	$	4,903
Comprehensive income (loss)
	attributable to Comcast Corporation	$	4,804	$	5,471	$	5,386	$	3,983	$	1,176	$	7,741	$	(23,757)	$	4,804

Condensed Consolidating Statement of Cash Flows
For the Nine Months Ended September 30, 2014
(in millions)			Comcast Parent		Comcast Holdings		CCCL Parent		Combined CCHMO Parents		NBCUniversal Media Parent		Non-Guarantor Subsidiaries		Elimination and Consolidation Adjustments		Consolidated Comcast Corporation
Net cash provided by (used in) operating activities		$	(433)	$	11	$	84	$	(88)	$	(998)	$	13,726	$	-	$	12,302
Investing Activities
	Net transactions with affiliates		2,349		(11)		(84)		88		1,761		(4,103)		-		-
	Capital expenditures		(3)		-		-		-		-		(5,193)		-		(5,196)
	Cash paid for intangible assets		(2)		-		-		-		-		(733)		-		(735)
	Acquisitions and construction of real estate properties		-		-		-		-		-		(28)		-		(28)
	Acquisitions, net of cash acquired		-		-		-		-		-		(477)		-		(477)
	Proceeds from sales of businesses and investments		-		-		-		-		1		621		-		622
	Return of capital from investees		-		-		-		-		-		6		-		6
	Purchases of investments		(10)		-		-		-		(6)		(129)		-		(145)
	Other		-		-		-		-		4		(131)		-		(127)
Net cash provided by (used in) investing activities			2,334		(11)		(84)		88		1,760		(10,167)		-		(6,080)
Financing Activities
	Proceeds from (repayments of) short-term borrowings, net		(1,350)		-		-		-		-		913		-		(437)
	Proceeds from borrowings		4,180		-		-		-		-		2		-		4,182
	Repurchases and repayments of debt		(1,000)		-		-		-		(902)		(1,270)		-		(3,172)
	Repurchases and retirements of common stock		(2,250)		-		-		-		-		-		-		(2,250)
	Dividends paid		(1,676)		-		-		-		-		-		-		(1,676)
	Issuances of common stock		33		-		-		-		-		-		-		33
	Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock		-		-		-		-		-		(170)		-		(170)
	Other		162		-		-		-		-		(65)		-		97
Net cash provided by (used in) financing activities			(1,901)		-		-		-		(902)		(590)		-		(3,393)
Increase (decrease) in cash and cash equivalents			-		-		-		-		(140)		2,969		-		2,829
Cash and cash equivalents, beginning of period			-		-		-		-		336		1,382		-		1,718
Cash and cash equivalents, end of period		$	-	$	-	$	-	$	-	$	196	$	4,351	$	-	$	4,547

Condensed Consolidating Statement of Cash Flows
For the Nine Months Ended September 30, 2013
(in millions)			Comcast Parent		Comcast Holdings		CCCL Parent		Combined CCHMO Parents		NBCUniversal Media Parent		Non-Guarantor Subsidiaries		Elimination and Consolidation Adjustments		Consolidated Comcast Corporation
Net cash provided by (used in) operating activities		$	(451)	$	(7)	$	(3)	$	(99)	$	(767)	$	13,006	$	-	$	11,679
Investing Activities
	Net transactions with affiliates		(116)		7		2,100		337		(900)		(1,428)		-		-
	Capital expenditures		(3)		-		-		-		-		(4,590)		-		(4,593)
	Cash paid for intangible assets		(1)		-		-		-		-		(693)		-		(694)
	Acquisitions and construction of real estate properties		-		-		-		-		-		(1,705)		-		(1,705)
	Acquisitions, net of cash acquired		-		-		-		-		-		(42)		-		(42)
	Proceeds from sales of businesses and investments		-		-		-		-		-		655		-		655
	Return of capital from investees		-		-		-		-		128		18		-		146
	Purchases of investments		(8)		-		-		-		(2)		(1,167)		-		(1,177)
	Other		-		-		-		-		(20)		103		-		83
Net cash provided by (used in) investing activities			(128)		7		2,100		337		(794)		(8,849)		-		(7,327)
Financing Activities
	Proceeds from (repayments of) short-term borrowings, net		400		-		-		-		-		(5)		-		395
	Proceeds from borrowings		2,933		-		-		-		-		-		-		2,933
	Repurchases and repayments of debt		-		-		(2,097)		(238)		(88)		(19)		-		(2,442)
	Repurchases and retirements of common stock		(1,500)		-		-		-		-		-		-		(1,500)
	Dividends paid		(1,454)		-		-		-		-		-		-		(1,454)
	Issuances of common stock		35		-		-		-		-		-		-		35
	Purchase of NBCUniversal noncontrolling common equity interest		-		-		-		-		(3,200)		(7,561)		-		(10,761)
	Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock		-		-		-		-		-		(164)		-		(164)
	Settlement of Station Venture liability		-		-		-		-		-		(602)		-		(602)
	Other		165		-		-		-		(40)		(265)		-		(140)
Net cash provided by (used in) financing activities			579		-		(2,097)		(238)		(3,328)		(8,616)		-		(13,700)
Increase (decrease) in cash and cash equivalents			-		-		-		-		(4,889)		(4,459)		-		(9,348)
Cash and cash equivalents, beginning of period			-		-		-		-		5,129		5,822		-		10,951
Cash and cash equivalents, end of period		$	-	$	-	$	-	$	-	$	240	$	1,363	$	-	$	1,603

Condensed Consolidating Statement of Income
For the Three Months Ended September 30, 2014
(in millions)			Comcast Parent		Comcast Holdings		CCCL Parent		Combined CCHMO Parents		NBCUniversal Media Parent		Non- Guarantor Subsidiaries		Elimination and Consolidation Adjustments		Consolidated Comcast Corporation
Revenue:
	Service revenue	$	-	$	-	$	-	$	-	$	-	$	16,791	$	-	$	16,791
	Management fee revenue		237		-		237		146		-		-		(620)		-
			237		-		237		146		-		16,791		(620)		16,791
Costs and Expenses:
	Programming and production		-		-		-		-		-		4,772		-		4,772
	Other operating and administrative		197		-		237		146		203		4,856		(620)		5,019
	Advertising, marketing and promotion		-		-		-		-		-		1,296		-		1,296
	Depreciation		10		-		-		-		-		1,529		-		1,539
	Amortization		1		-		-		-		-		419		-		420
			208		-		237		146		203		12,872		(620)		13,046
Operating income (loss)			29		-		-		-		(203)		3,919		-		3,745
Other Income (Expense):
	Interest expense		(412)		(2)		(43)		(29)		(111)		(66)		-		(663)
	Investment income (loss), net		1		2		-		-		(14)		32		-		21
	Equity in net income
	(losses) of investees, net		2,840		2,556		2,362		1,801		1,144		835		(11,505)		33
	Other income (expense), net		-		-		-		-		(3)		(93)		-		(96)
			2,429		2,556		2,319		1,772		1,016		708		(11,505)		(705)
Income (loss) before income taxes			2,458		2,556		2,319		1,772		813		4,627		(11,505)		3,040
Income tax (expense) benefit			134		-		15		10		(11)		(555)		-		(407)
Net income (loss)			2,592		2,556		2,334		1,782		802		4,072		(11,505)		2,633
Net (income) loss attributable
	to noncontrolling interests and redeemable subsidiary preferred stock		-		-		-		-		-		(41)		-		(41)
Net income (loss) attributable
	to Comcast Corporation	$	2,592	$	2,556	$	2,334	$	1,782	$	802	$	4,031	$	(11,505)	$	2,592
Comprehensive income (loss)
	attributable to Comcast Corporation	$	2,609	$	2,551	$	2,335	$	1,781	$	785	$	4,031	$	(11,483)	$	2,609

Condensed Consolidating Statement of Income
For the Nine Months Ended September 30, 2014
(in millions)			Comcast Parent		Comcast Holdings		CCCL Parent		Combined CCHMO Parents		NBCUniversal Media Parent		Non- Guarantor Subsidiaries		Elimination and Consolidation Adjustments		Consolidated Comcast Corporation
Revenue:
	Service revenue	$	-	$	-	$	-	$	-	$	-	$	51,043	$	-	$	51,043
	Management fee revenue		704		-		691		432		-		-		(1,827)		-
			704		-		691		432		-		51,043		(1,827)		51,043
Costs and Expenses:
	Programming and production		-		-		-		-		-		15,554		-		15,554
	Other operating and administrative		471		-		691		432		697		14,231		(1,827)		14,695
	Advertising, marketing and promotion		-		-		-		-		-		3,748		-		3,748
	Depreciation		25		-		-		-		-		4,682		-		4,707
	Amortization		4		-		-		-		-		1,218		-		1,222
			500		-		691		432		697		39,433		(1,827)		39,926
Operating income (loss)			204		-		-		-		(697)		11,610		-		11,117
Other Income (Expense):
	Interest expense		(1,199)		(8)		(132)		(88)		(360)		(166)		-		(1,953)
	Investment income (loss), net		3		5		-		-		(9)		255		-		254
	Equity in net income
	(losses) of investees, net		7,100		6,731		6,301		4,866		3,386		2,385		(30,682)		87
	Other income (expense), net		-		-		-		-		-		(150)		-		(150)
			5,904		6,728		6,169		4,778		3,017		2,324		(30,682)		(1,762)
Income (loss) before income taxes			6,108		6,728		6,169		4,778		2,320		13,934		(30,682)		9,355
Income tax (expense) benefit			347		1		46		31		(22)		(3,162)		-		(2,759)
Net income (loss)			6,455		6,729		6,215		4,809		2,298		10,772		(30,682)		6,596
Net (income) loss attributable
	to noncontrolling interests and redeemable subsidiary preferred stock		-		-		-		-		-		(141)		-		(141)
Net income (loss) attributable
	to Comcast Corporation	$	6,455	$	6,729	$	6,215	$	4,809	$	2,298	$	10,631	$	(30,682)	$	6,455
Comprehensive income (loss)
	attributable to Comcast Corporation	$	6,402	$	6,732	$	6,217	$	4,809	$	2,302	$	10,566	$	(30,626)	$	6,402

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- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 06

-Article 9



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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-SubTopic 10

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 810

-SubTopic 10

-Section 45

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Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

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-Number 210

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-Section 04

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Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

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