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Condensed Consolidating Financial Information | 3 Months Ended
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Mar. 31, 2019
Condensed Financial Information Disclosure [Abstract] |
Condensed Consolidating Financial Information | Condensed Consolidating Financial Information Comcast (“Comcast Parent”), Comcast Cable Communications, LLC (“CCCL Parent”) and NBCUniversal (“NBCUniversal Media Parent”) have fully and unconditionally guaranteed each other’s debt. See Note 5 for additional information on the cross-guarantee structure. Condensed Consolidating Statement of Income For the Three Months Ended March 31, 2019
(in millions) | Comcast Parent | Comcast Holdings | CCCL Parent | NBCUniversal Media Parent | Non- Guarantor Subsidiaries | Elimination and Consolidation Adjustments | Consolidated Comcast Corporation
Revenue: |  |  |  |  |  |  |
Service revenue | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 26,859 |  | $ | — |  | $ | 26,859 |
Management fee revenue | 305 |  | — |  | 299 |  | — |  | — |  | (604 | ) | — |
Total revenue | 305 |  | — |  | 299 |  | — |  | 26,859 |  | (604 | ) | 26,859 |
Costs and Expenses: |  |  |  |  |  |  |
Programming and production | — |  | — |  | — |  | — |  | 8,569 |  | — |  | 8,569 |
Other operating and administrative | 188 |  | — |  | 299 |  | 271 |  | 7,746 |  | (604 | ) | 7,900 |
Advertising, marketing and promotion | — |  | — |  | — |  | — |  | 1,888 |  | — |  | 1,888 |
Depreciation | 14 |  | — |  | — |  | — |  | 2,226 |  | — |  | 2,240 |
Amortization | 1 |  | — |  | — |  | — |  | 1,079 |  | — |  | 1,080 |
Total cost and expenses | 203 |  | — |  | 299 |  | 271 |  | 21,508 |  | (604 | ) | 21,677 |
Operating income (loss) | 102 |  | — |  | — |  | (271 | ) | 5,351 |  | — |  | 5,182 |
Interest expense | (896 | ) | (3 | ) | (49 | ) | (120 | ) | (82 | ) | — |  | (1,150 | )
Investment and other income (loss), net | 4,215 |  | 4,143 |  | 3,314 |  | 2,181 |  | 2,238 |  | (15,415 | ) | 676 |
Income (loss) before income taxes | 3,421 |  | 4,140 |  | 3,265 |  | 1,790 |  | 7,507 |  | (15,415 | ) | 4,708 |
Income tax (expense) benefit | 132 |  | (6 | ) | 10 |  | (6 | ) | (1,206 | ) | — |  | (1,076 | )
Net income (loss) | 3,553 |  | 4,134 |  | 3,275 |  | 1,784 |  | 6,301 |  | (15,415 | ) | 3,632 |
Less: Net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock | — |  | — |  | — |  | — |  | 79 |  | — |  | 79 |
Net income (loss) attributable to Comcast Corporation | $ | 3,553 |  | $ | 4,134 |  | $ | 3,275 |  | $ | 1,784 |  | $ | 6,222 |  | $ | (15,415 | ) | $ | 3,553 |
Comprehensive income (loss) attributable to Comcast Corporation | $ | 4,343 |  | $ | 4,122 |  | $ | 3,275 |  | $ | 1,752 |  | $ | 7,160 |  | $ | (16,309 | ) | $ | 4,343 |
Condensed Consolidating Statement of Income For the Three Months Ended March 31, 2018
(in millions) | Comcast Parent | Comcast Holdings | CCCL Parent | NBCUniversal Media Parent | Non- Guarantor Subsidiaries | Elimination and Consolidation Adjustments | Consolidated Comcast Corporation
Revenue: |  |  |  |  |  |  |
Service revenue | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 22,791 |  | $ | — |  | $ | 22,791 |
Management fee revenue | 292 |  | — |  | 286 |  | — |  | — |  | (578 | ) | — |
Total revenue | 292 |  | — |  | 286 |  | — |  | 22,791 |  | (578 | ) | 22,791 |
Costs and Expenses: |  |  |  |  |  |  |
Programming and production | — |  | — |  | — |  | — |  | 7,429 |  | — |  | 7,429 |
Other operating and administrative | 228 |  | — |  | 286 |  | 318 |  | 6,260 |  | (578 | ) | 6,514 |
Advertising, marketing and promotion | — |  | — |  | — |  | — |  | 1,604 |  | — |  | 1,604 |
Depreciation | 11 |  | — |  | — |  | — |  | 2,000 |  | — |  | 2,011 |
Amortization | 1 |  | — |  | — |  | — |  | 587 |  | — |  | 588 |
Total costs and expenses | 240 |  | — |  | 286 |  | 318 |  | 17,880 |  | (578 | ) | 18,146 |
Operating income (loss) | 52 |  | — |  | — |  | (318 | ) | 4,911 |  | — |  | 4,645 |
Interest expense | (561 | ) | (3 | ) | (47 | ) | (106 | ) | (60 | ) | — |  | (777 | )
Investment and other income (loss), net | 3,520 |  | 3,319 |  | 2,826 |  | 1,942 |  | 1,588 |  | (13,069 | ) | 126 |
Income (loss) before income taxes | 3,011 |  | 3,316 |  | 2,779 |  | 1,518 |  | 6,439 |  | (13,069 | ) | 3,994 |
Income tax (expense) benefit | 107 |  | — |  | 9 |  | (5 | ) | (929 | ) | — |  | (818 | )
Net income (loss) | 3,118 |  | 3,316 |  | 2,788 |  | 1,513 |  | 5,510 |  | (13,069 | ) | 3,176 |
Less: Net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock | — |  | — |  | — |  | — |  | 58 |  | — |  | 58 |
Net income (loss) attributable to Comcast Corporation | $ | 3,118 |  | $ | 3,316 |  | $ | 2,788 |  | $ | 1,513 |  | $ | 5,452 |  | $ | (13,069 | ) | $ | 3,118 |
Comprehensive income (loss) attributable to Comcast Corporation | $ | 3,271 |  | $ | 3,369 |  | $ | 2,789 |  | $ | 1,696 |  | $ | 5,791 |  | $ | (13,645 | ) | $ | 3,271 |
Condensed Consolidating Statement of Cash Flows For the Three Months Ended March 31, 2019
(in millions) | Comcast Parent | Comcast Holdings | CCCL Parent | NBCUniversal Media Parent | Non- Guarantor Subsidiaries | Elimination and Consolidation Adjustments | Consolidated Comcast Corporation
Net cash provided by (used in) operating activities | $ | (759 | ) | $ | 135 |  | $ | (119 | ) | $ | (279 | ) | $ | 8,253 |  | $ | — |  | $ | 7,231 |
Investing Activities: |  |  |  |  |  |  |
Net transactions with affiliates | 3,908 |  | (135 | ) | 119 |  | 140 |  | (4,032 | ) | — |  | — |
Capital expenditures | (2 | ) | — |  | — |  | — |  | (2,090 | ) | — |  | (2,092 | )
Cash paid for intangible assets | (1 | ) | — |  | — |  | — |  | (546 | ) | — |  | (547 | )
Acquisitions and construction of real estate properties | (13 | ) | — |  | — |  | — |  | (3 | ) | — |  | (16 | )
Construction of Universal Beijing Resort | — |  | — |  | — |  | — |  | (220 | ) | — |  | (220 | )
Acquisitions, net of cash acquired | — |  | — |  | — |  | — |  | (48 | ) | — |  | (48 | )
Proceeds from sales of investments | — |  | — |  | — |  | — |  | 37 |  | — |  | 37 |
Purchases of investments | (13 | ) | — |  | — |  | (58 | ) | (368 | ) | — |  | (439 | )
Other | — |  | — |  | — |  | — |  | 99 |  | — |  | 99 |
Net cash provided by (used in) investing activities | 3,879 |  | (135 | ) | 119 |  | 82 |  | (7,171 | ) | — |  | (3,226 | )
Financing Activities: |  |  |  |  |  |  |
Proceeds from (repayments of) short-term borrowings, net | — |  | — |  | — |  | — |  | (1,288 | ) | — |  | (1,288 | )
Proceeds from borrowings | — |  | — |  | — |  | — |  | 222 |  | — |  | 222 |
Repurchases and repayments of debt | (2,000 | ) | — |  | — |  | (5 | ) | (79 | ) | — |  | (2,084 | )
Repurchases of common stock under repurchase program and employee plans | (247 | ) | — |  | — |  | — |  | — |  | — |  | (247 | )
Dividends paid | (869 | ) | — |  | — |  | — |  | — |  | — |  | (869 | )
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock | — |  | — |  | — |  | — |  | (85 | ) | — |  | (85 | )
Other | (3 | ) | — |  | — |  | — |  | 29 |  | — |  | 26 |
Net cash provided by (used in) financing activities | (3,119 | ) | — |  | — |  | (5 | ) | (1,201 | ) | — |  | (4,325 | )
Impact of foreign currency on cash, cash equivalents and restricted cash | (1 | ) | — |  | — |  | — |  | 9 |  | — |  | 8 |
Increase (decrease) in cash, cash equivalents and restricted cash | — |  | — |  | — |  | (202 | ) | (110 | ) | — |  | (312 | )
Cash, cash equivalents and restricted cash, beginning of period | — |  | — |  | — |  | 416 |  | 3,493 |  | — |  | 3,909 |
Cash, cash equivalents and restricted cash, end of period | $ | — |  | $ | — |  | $ | — |  | $ | 214 |  | $ | 3,383 |  | $ | — |  | $ | 3,597 |
Condensed Consolidating Statement of Cash Flows For the Three Months Ended March 31, 2018
(in millions) | Comcast Parent | Comcast Holdings | CCCL Parent | NBCUniversal Media Parent | Non- Guarantor Subsidiaries | Elimination and Consolidation Adjustments | Consolidated Comcast Corporation
Net cash provided by (used in) operating activities | $ | (270 | ) | $ | 453 |  | $ | (149 | ) | $ | (382 | ) | $ | 5,822 |  | $ | — |  | $ | 5,474 |
Investing Activities: |  |  |  |  |  |  |
Net transactions with affiliates | 640 |  | (897 | ) | 149 |  | 347 |  | (239 | ) | — |  | — |
Capital expenditures | — |  | — |  | — |  | — |  | (1,973 | ) | — |  | (1,973 | )
Cash paid for intangible assets | (2 | ) | — |  | — |  | — |  | (417 | ) | — |  | (419 | )
Acquisitions and construction of real estate properties | (39 | ) | — |  | — |  | — |  | (20 | ) | — |  | (59 | )
Construction of Universal Beijing Resort | — |  | — |  | — |  | — |  | (42 | ) | — |  | (42 | )
Acquisitions, net of cash acquired | — |  | — |  | — |  | — |  | (89 | ) | — |  | (89 | )
Proceeds from sales of investments | — |  | — |  | — |  | 57 |  | 24 |  | — |  | 81 |
Purchases of investments | (11 | ) | — |  | — |  | (5 | ) | (204 | ) | — |  | (220 | )
Other | — |  | 444 |  | — |  | — |  | (15 | ) | — |  | 429 |
Net cash provided by (used in) investing activities | 588 |  | (453 | ) | 149 |  | 399 |  | (2,975 | ) | — |  | (2,292 | )
Financing Activities: |  |  |  |  |  |  |
Proceeds from (repayments of) short-term borrowings, net | (902 | ) | — |  | — |  | — |  | — |  | — |  | (902 | )
Proceeds from borrowings | 3,973 |  | — |  | — |  | — |  | 70 |  | — |  | 4,043 |
Repurchases and repayments of debt | (900 | ) | — |  | — |  | (3 | ) | (362 | ) | — |  | (1,265 | )
Repurchases of common stock under repurchase program and employee plans | (1,729 | ) | — |  | — |  | — |  | — |  | — |  | (1,729 | )
Dividends paid | (738 | ) | — |  | — |  | — |  | — |  | — |  | (738 | )
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock | — |  | — |  | — |  | — |  | (79 | ) | — |  | (79 | )
Other | (22 | ) | — |  | — |  | — |  | 116 |  | — |  | 94 |
Net cash provided by (used in) financing activities | (318 | ) | — |  | — |  | (3 | ) | (255 | ) | — |  | (576 | )
Increase (decrease) in cash, cash equivalents and restricted cash | — |  | — |  | — |  | 14 |  | 2,592 |  | — |  | 2,606 |
Cash, cash equivalents and restricted cash, beginning of period | — |  | — |  | — |  | 496 |  | 3,075 |  | — |  | 3,571 |
Cash, cash equivalents and restricted cash, end of period | $ | — |  | $ | — |  | $ | — |  | $ | 510 |  | $ | 5,667 |  | $ | — |  | $ | 6,177 |
Condensed Consolidating Balance Sheet March 31, 2019
(in millions) | Comcast Parent | Comcast Holdings | CCCL Parent | NBCUniversal Media Parent | Non- Guarantor Subsidiaries | Elimination and Consolidation Adjustments | Consolidated Comcast Corporation
Assets |  |  |  |  |  |  |
Cash and cash equivalents | $ | — |  | $ | — |  | $ | — |  | $ | 214 |  | $ | 3,284 |  | $ | — |  | $ | 3,498 |
Receivables, net | — |  | — |  | — |  | — |  | 10,736 |  | — |  | 10,736 |
Programming rights | — |  | — |  | — |  | — |  | 2,942 |  | — |  | 2,942 |
Other current assets | 72 |  | 25 |  | — |  | 26 |  | 2,974 |  | — |  | 3,097 |
Total current assets | 72 |  | 25 |  | — |  | 240 |  | 19,936 |  | — |  | 20,273 |
Film and television costs | — |  | — |  | — |  | — |  | 8,051 |  | — |  | 8,051 |
Investments | 280 |  | 11 |  | 147 |  | 895 |  | 7,826 |  | — |  | 9,159 |
Investments in and amounts due from subsidiaries eliminated upon consolidation | 158,868 |  | 147,534 |  | 129,829 |  | 56,005 |  | 98,613 |  | (590,849 | ) | — |
Property and equipment, net | 663 |  | — |  | — |  | — |  | 45,058 |  | — |  | 45,721 |
Franchise rights | — |  | — |  | — |  | — |  | 59,365 |  | — |  | 59,365 |
Goodwill | — |  | — |  | — |  | — |  | 68,073 |  | — |  | 68,073 |
Other intangible assets, net | 10 |  | — |  | — |  | — |  | 36,892 |  | — |  | 36,902 |
Other noncurrent assets, net | 1,163 |  | 233 |  | — |  | 93 |  | 7,642 |  | (486 | ) | 8,645 |
Total assets | $ | 161,056 |  | $ | 147,803 |  | $ | 129,976 |  | $ | 57,233 |  | $ | 351,456 |  | $ | (591,335 | ) | $ | 256,189 |
Liabilities and Equity |  |  |  |  |  |  |
Accounts payable and accrued expenses related to trade creditors | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 10,232 |  | $ | — |  | $ | 10,232 |
Accrued participations and residuals | — |  | — |  | — |  | — |  | 1,739 |  | — |  | 1,739 |
Deferred revenue | — |  | — |  | — |  | — |  | 2,485 |  | — |  | 2,485 |
Accrued expenses and other current liabilities | 2,405 |  | 149 |  | 245 |  | 438 |  | 5,595 |  | — |  | 8,832 |
Current portion of long-term debt | 2,099 |  | — |  | — |  | 7 |  | 2,523 |  | — |  | 4,629 |
Total current liabilities | 4,504 |  | 149 |  | 245 |  | 445 |  | 22,574 |  | — |  | 27,917 |
Long-term debt, less current portion | 78,460 |  | 149 |  | 2,100 |  | 7,756 |  | 15,999 |  | — |  | 104,464 |
Deferred income taxes | — |  | 324 |  | — |  | 67 |  | 27,980 |  | (552 | ) | 27,819 |
Other noncurrent liabilities | 3,133 |  | — |  | — |  | 1,579 |  | 14,033 |  | 66 |  | 18,811 |
Redeemable noncontrolling interests and redeemable subsidiary preferred stock | — |  | — |  | — |  | — |  | 1,316 |  | — |  | 1,316 |
Equity: |  |  |  |  |  |  |
Common stock | 54 |  | — |  | — |  | — |  | — |  | — |  | 54 |
Other shareholders’ equity | 74,905 |  | 147,181 |  | 127,631 |  | 47,386 |  | 268,651 |  | (590,849 | ) | 74,905 |
Total Comcast Corporation shareholders’ equity | 74,959 |  | 147,181 |  | 127,631 |  | 47,386 |  | 268,651 |  | (590,849 | ) | 74,959 |
Noncontrolling interests | — |  | — |  | — |  | — |  | 903 |  | — |  | 903 |
Total equity | 74,959 |  | 147,181 |  | 127,631 |  | 47,386 |  | 269,554 |  | (590,849 | ) | 75,862 |
Total liabilities and equity | $ | 161,056 |  | $ | 147,803 |  | $ | 129,976 |  | $ | 57,233 |  | $ | 351,456 |  | $ | (591,335 | ) | $ | 256,189 |
Condensed Consolidating Balance Sheet December 31, 2018
(in millions) | Comcast Parent | Comcast Holdings | CCCL Parent | NBCUniversal Media Parent | Non- Guarantor Subsidiaries | Elimination and Consolidation Adjustments | Consolidated Comcast Corporation
Assets |  |  |  |  |  |  |
Cash and cash equivalents | $ | — |  | $ | — |  | $ | — |  | $ | 416 |  | $ | 3,398 |  | $ | — |  | $ | 3,814 |
Receivables, net | — |  | — |  | — |  | — |  | 11,104 |  | — |  | 11,104 |
Programming rights | — |  | — |  | — |  | — |  | 3,746 |  | — |  | 3,746 |
Other current assets | 66 |  | 20 |  | — |  | 28 |  | 3,070 |  | — |  | 3,184 |
Total current assets | 66 |  | 20 |  | — |  | 444 |  | 21,318 |  | — |  | 21,848 |
Film and television costs | — |  | — |  | — |  | — |  | 7,837 |  | — |  | 7,837 |
Investments | 270 |  | 11 |  | 143 |  | 790 |  | 6,669 |  | — |  | 7,883 |
Investments in and amounts due from subsidiaries eliminated upon consolidation | 157,264 |  | 147,028 |  | 130,214 |  | 53,853 |  | 97,872 |  | (586,231 | ) | — |
Property and equipment, net | 670 |  | — |  | — |  | — |  | 43,767 |  | — |  | 44,437 |
Franchise rights | — |  | — |  | — |  | — |  | 59,365 |  | — |  | 59,365 |
Goodwill | — |  | — |  | — |  | — |  | 66,154 |  | — |  | 66,154 |
Other intangible assets, net | 11 |  | — |  | — |  | — |  | 38,347 |  | — |  | 38,358 |
Other noncurrent assets, net | 1,057 |  | 208 |  | — |  | 85 |  | 4,910 |  | (458 | ) | 5,802 |
Total assets | $ | 159,338 |  | $ | 147,267 |  | $ | 130,357 |  | $ | 55,172 |  | $ | 346,239 |  | $ | (586,689 | ) | $ | 251,684 |
Liabilities and Equity |  |  |  |  |  |  |
Accounts payable and accrued expenses related to trade creditors | $ | 2 |  | $ | — |  | $ | — |  | $ | — |  | $ | 8,492 |  | $ | — |  | $ | 8,494 |
Accrued participations and residuals | — |  | — |  | — |  | — |  | 1,808 |  | — |  | 1,808 |
Deferred revenue | — |  | — |  | — |  | — |  | 2,182 |  | — |  | 2,182 |
Accrued expenses and other current liabilities | 2,357 |  | 150 |  | 360 |  | 282 |  | 7,572 |  | — |  | 10,721 |
Current portion of long-term debt | 699 |  | — |  | — |  | 4 |  | 3,695 |  | — |  | 4,398 |
Total current liabilities | 3,058 |  | 150 |  | 360 |  | 286 |  | 23,749 |  | — |  | 27,603 |
Long-term debt, less current portion | 81,661 |  | 146 |  | 2,100 |  | 7,748 |  | 15,690 |  | — |  | 107,345 |
Deferred income taxes | — |  | 314 |  | — |  | 65 |  | 27,734 |  | (524 | ) | 27,589 |
Other noncurrent liabilities | 3,006 |  | — |  | — |  | 1,201 |  | 11,056 |  | 66 |  | 15,329 |
Redeemable noncontrolling interests and redeemable subsidiary preferred stock | — |  | — |  | — |  | — |  | 1,316 |  | — |  | 1,316 |
Equity: |  |  |  |  |  |  |
Common stock | 54 |  | — |  | — |  | — |  | — |  | — |  | 54 |
Other shareholders’ equity | 71,559 |  | 146,657 |  | 127,897 |  | 45,872 |  | 265,805 |  | (586,231 | ) | 71,559 |
Total Comcast Corporation shareholders’ equity | 71,613 |  | 146,657 |  | 127,897 |  | 45,872 |  | 265,805 |  | (586,231 | ) | 71,613 |
Noncontrolling interests | — |  | — |  | — |  | — |  | 889 |  | — |  | 889 |
Total equity | 71,613 |  | 146,657 |  | 127,897 |  | 45,872 |  | 266,694 |  | (586,231 | ) | 72,502 |
Total liabilities and equity | $ | 159,338 |  | $ | 147,267 |  | $ | 130,357 |  | $ | 55,172 |  | $ | 346,239 |  | $ | (586,689 | ) | $ | 251,684 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 235 -Section S99 -Paragraph 2 -Subparagraph (SX 210.9-06) -URI http://asc.fasb.org/extlink&oid=6882215&loc=d3e537971-122884 + Details
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