Comcast (CMCSA) 10-K 23 Feb 10 2009 FY Annual report Financial data

Statement Of Financial Position

Statement Of Financial Position Classified (USD $)
In Millions	Dec. 31, 2009	Dec. 31, 2008
Current Assets:
Cash and cash equivalents	$671	$1,195
Investments	50	59
Accounts receivable, less allowance for doubtful accounts of $175 and $190	1,711	1,626
Deferred income taxes	240	292
Other current assets	551	544
Total current assets	3,223	3,716
Investments	5,947	4,783
Property and equipment, net of accumulated depreciation of $27,810 and $23,235	23,855	24,444
Franchise rights	59,452	59,449
Goodwill	14,933	14,889
Other intangible assets, net of accumulated amortization of $8,711 and $8,160	4,105	4,558
Other noncurrent assets, net	1,218	1,178
Total assets	112,733	113,017
Current Liabilities:
Accounts payable and accrued expenses related to trade creditors	3,094	3,393
Accrued expenses and other current liabilities	2,999	3,268
Current portion of long-term debt	1,156	2,278
Total current liabilities	7,249	8,939
Long-term debt, less current portion	27,940	30,178
Deferred income taxes	27,800	26,982
Other noncurrent liabilities	6,767	6,171
Commitments and contingencies (Note 17)
Redeemable noncontrolling interests	166	171
Equity:
Preferred stock - authorized, 20,000,000 shares; issued, zero	0	0
Additional paid-in capital	40,247	40,620
Retained earnings	10,005	7,427
Treasury stock, 365,460,750 Class A common shares and 70,934,764 Class A Special common shares	(7,517)	(7,517)
Accumulated other comprehensive income (loss)	(46)	(113)
Total Comcast Corporation shareholders' equity	42,721	40,450
Noncontrolling interests	90	126
Total equity	42,811	40,576
Total liabilities and equity	$112,733	$113,017

1_Statement Of Financial Positi

Statement Of Financial Position Classified (Parenthetical) (USD $)
In Millions, except Share data	Dec. 31, 2009	Dec. 31, 2008
Accounts receivable, allowance for doubtful accounts	$175	$190
Property and equipment, accumulated depreciation	27,810	23,235
Other intangible assets, accumulated amortization	$8,711	$8,160
Preferred stock, authorized	20,000,000	20,000,000
Preferred stock, issued	0	0

Statement Of Income Alternative

Statement Of Income Alternative (USD $)
In Millions, except Per Share data	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Revenue	$35,756	$34,423	$31,060
Costs and Expenses:
Operating (excluding depreciation and amortization)	14,396	13,639	12,334
Selling, general and administrative	7,646	7,652	6,940
Depreciation	5,483	5,457	5,107
Amortization	1,017	943	1,101
Costs and Expenses, Total	28,542	27,691	25,482
Operating income	7,214	6,732	5,578
Other Income (Expense):
Interest expense	(2,348)	(2,439)	(2,289)
Investment income (loss), net	282	89	601
Equity in net income (losses) of affiliates, net	(64)	(39)	(63)
Other income (expense)	22	(285)	522
Nonoperating Income (Expense), Total	(2,108)	(2,674)	(1,229)
Income before income taxes	5,106	4,058	4,349
Income tax expense	(1,478)	(1,533)	(1,800)
Net income from consolidated operations	3,628	2,525	2,549
Net (income) loss attributable to noncontrolling interests	10	22	38
Net income attributable to Comcast Corporation	$3,638	$2,547	$2,587
Basic earnings per common share attributable to Comcast Corporation shareholders	1.27	0.87	0.84
Diluted earnings per common share attributable to Comcast Corporation shareholders	1.26	0.86	0.83
Dividends declared per common share attributable to Comcast Corporation shareholders	0.297	0.25	$0

Statement Of Cash Flows Indirec

Statement Of Cash Flows Indirect (USD $)
In Millions	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Operating Activities
Net income from consolidated operations	$3,628	$2,525	$2,549
Adjustments to reconcile net income from consolidated operations to net cash provided by operating activities:
Depreciation	5,483	5,457	5,107
Amortization	1,017	943	1,101
Share-based compensation	257	258	212
Noncash interest expense (income), net	160	209	114
Equity in net (income) losses of affiliates, net	64	39	63
(Gains) losses on investments and noncash other (income) expense, net	(201)	321	(938)
Noncash contribution expense	0	0	11
Deferred income taxes	832	495	247
Changes in operating assets and liabilities, net of effects of acquisitions and divestitures:
Change in accounts receivable, net	(84)	39	(100)
Change in accounts payable and accrued expenses related to trade creditors	(136)	(38)	175
Change in other operating assets and liabilities	(739)	(17)	(352)
Net cash provided by (used in) operating activities	10,281	10,231	8,189
Investing Activities
Capital expenditures	(5,117)	(5,750)	(6,158)
Cash paid for intangible assets	(522)	(527)	(406)
Acquisitions, net of cash acquired	(88)	(738)	(1,319)
Proceeds from sales of investments	102	737	1,761
Purchases of investments	(346)	(1,167)	(2,089)
Other	74	(32)	62
Net cash provided by (used in) investing activities	(5,897)	(7,477)	(8,149)
Financing Activities
Proceeds from borrowings	1,564	3,535	3,713
Repurchases and repayments of debt	(4,738)	(2,610)	(1,401)
Repurchases of common stock	(765)	(2,800)	(3,102)
Dividends paid	(761)	(547)	0
Issuances of common stock	1	53	412
Other	(209)	(153)	62
Net cash provided by (used in) financing activities	(4,908)	(2,522)	(316)
Increase (decrease) in cash and cash equivalents	(524)	232	(276)
Cash and cash equivalents, beginning of year	1,195	963	1,239
Cash and cash equivalents, end of year	$671	$1,195	$963

Statement Of Shareholders Equit

Statement Of Shareholders Equity And Other Comprehensive Income (USD $)
In Millions	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Class A common stock	Class A Special common stock	Class B common stock	Redeemable Non-controlling Interests	Retained Earnings	Treasury Stock at Cost	Non-controlling Interests	Total
Beginning Balance at Dec. 31, 2006	$42,401	$34	$24	$11	$0	$63	$6,214	($7,517)	$178	$41,345
Cumulative effect related to change in accounting principle							60			60
Stock compensation plans	688						(28)			660
Repurchase and retirement of common stock	(1,459)			(1)			(1,642)			(3,102)
Employee stock purchase plan	58									58
Other comprehensive income (loss)		(90)								(90)
Sale (purchase) of subsidiary shares to (from) noncontrolling interests, net						40			(1)	(1)
Contributions from (distributions to) noncontrolling interests						18			(10)	(10)
Net income (loss)						(20)	2,587		(18)	2,569
Ending Balance at Dec. 31, 2007	41,688	(56)	24	10	0	101	7,191	(7,517)	149	41,489
Cumulative effect related to change in accounting principle							(132)			(132)
Stock compensation plans	265						(49)			216
Repurchase and retirement of common stock	(1,562)			(1)			(1,237)			(2,800)
Employee stock purchase plan	63									63
Share exchange	166						(166)			0
Dividends declared							(727)			(727)
Other comprehensive income (loss)		(57)								(57)
Sale (purchase) of subsidiary shares to (from) noncontrolling interests, net						88				0
Contributions from (distributions to) noncontrolling interests						2			(21)	(21)
Net income (loss)						(20)	2,547		(2)	2,545
Ending Balance at Dec. 31, 2008	40,620	(113)	24	9	0	171	7,427	(7,517)	126	40,576
Stock compensation plans	159									159
Repurchase and retirement of common stock	(554)			(1)			(210)			(765)
Employee stock purchase plan	61									61
Dividends declared							(850)			(850)
Other comprehensive income (loss)		67								67
Sale (purchase) of subsidiary shares to (from) noncontrolling interests, net	(39)								(12)	(51)
Contributions from (distributions to) noncontrolling interests						9			(28)	(28)
Net income (loss)						(14)	3,638		4	3,642
Ending Balance at Dec. 31, 2009	$40,247	($46)	$24	$8	$0	$166	$10,005	($7,517)	$90	$42,811

Statement Of Other Comprehensiv

Statement Of Other Comprehensive Income (USD $)
In Millions	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Net income from consolidated operations	$3,628	$2,525	$2,549
Holding gains (losses) during the period, net of deferred taxes of $(4), $7 and $23	8	(13)	(42)
Reclassification adjustments for losses (gains) included in net income, net of deferred taxes of $(18), $(10) and $46	30	18	(85)
Employee benefit obligations, net of deferred taxes of $(15), $30 and $(16)	25	(55)	29
Cumulative translation adjustments	4	(7)	8
Comprehensive income	3,695	2,468	2,459
Net (income) loss attributable to noncontrolling interests	10	22	38
Comprehensive income attributable to Comcast Corporation	$3,705	$2,490	$2,497

2_Statement Of Other Comprehens

Statement Of Other Comprehensive Income (Parenthetical) (USD $)
In Millions	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Holding gains (losses) during the period, deferred taxes	($4)	$7	$23
Reclassification adjustments for losses (gains) included in net income, deferred taxes	(18)	(10)	46
Employee benefit obligations, deferred taxes	($15)	$30	($16)

Organization and Business

Organization and Business
	12 Months Ended Dec. 31, 2009 USD / shares
Organization and Business	Note 1: Organization and Business We are a Pennsylvania corporation and were incorporated in December 2001. Through our predecessors, we have developed, managed and operated cable systems since 1963. We classify our operations in two reportable segments: Cable and Programming. Our Cable segment is primarily involved in the management and operation of cable systems in the United States. As of December31, 2009, we served approximately 23.6million video customers, 15.9million high-speed Internet customers and 7.6million phone customers. Our regional sports networks are also included in our Cable segment. Our Programming segment consists primarily of our consolidated national programming networks, E!, Golf Channel, VERSUS, G4 and Style. Our other business interests include Comcast Interactive Media and Comcast Spectacor. Comcast Interactive Media develops and operates our Internet businesses including Comcast.net, Fancast, Fandango, Plaxo and DailyCandy. Comcast Spectacor owns two professional sports teams, the Philadelphia 76ers and the Philadelphia Flyers, and a large, multipurpose arena in Philadelphia, the Wachovia Center, and manages other facilities for sporting events, concerts and other events. We also own equity method investments in other programming networks and wireless-related companies.

Summary of Significant Accounti

Summary of Significant Accounting Policies
	12 Months Ended Dec. 31, 2009 USD / shares
Summary of Significant Accounting Policies	Note 2: Summary of Significant Accounting Policies Basis of Consolidation The accompanying consolidated financial statements include (i)all of our accounts, (ii)all entities in which we have a controlling voting interest (subsidiaries) and (iii)variable interest entities (VIEs) required to be consolidated in accordance with generally accepted accounting principles in the United States (GAAP). We have eliminated intercompany accounts and transactions among consolidated entities. Our Use of Estimates We prepare our consolidated financial statements in conformity with GAAP, which requires us to make estimates and assumptions that affect the reported amounts and disclosures. Actual results could differ from those estimates. Estimates are used when accounting for various items, such as allowances for doubtful accounts, investments, derivative financial instruments, asset impairments, nonmonetary transactions, certain acquisition-related liabilities, programming-related liabilities, pensions and other postretirement benefits, revenue recognition, depreciation and amortization, income taxes, and legal contingencies. See Note 10 for our discussion on fair value estimates. Cash Equivalents The carrying amounts of our cash equivalents approximate their fair value. Our cash equivalents consist primarily of money market funds and U.S. government obligations, as well as commercial paper and certificates of deposit with maturities of less than three months when purchased. Investments We classify publicly traded investments as available-for-sale (AFS) or trading securities and record them at fair value. For AFS securities, we record unrealized gains or losses resulting from changes in fair value between measurement dates as a component of other comprehensive income (loss), except when we consider declines in value to be other than temporary. For trading securities, we record unrealized gains or losses resulting from changes in fair value between measurement dates as a component of investment income (loss), net. We recognize realized gains and losses associated with our fair value method investments using the specific identification method. We classify the cash flows related to purchases of, and proceeds from the sale of, trading securities based on the nature of the securities and purpose for which they were acquired. Investments in privately held companies are stated at cost. We use the equity method to account for investments in which we have the ability to exercise significant influence over the investees operating and financial policies. Equity method investments are recorded at cost and are adjusted to recognize (i)our proportionate share of the investees net income or losses after the date of investment, (ii)amortization of basis differences, (iii)additional contributions made and dividends received, and (iv)impairments resulting from other-than-temporary declines in fair value. We generally record our share of the investees net income or loss one quarter in arrears due to the timing of our receipt of such information. Gains or losses on the sale of equity method investments are recorded to other income (expense). We revi

Recent Accounting Pronouncement

Recent Accounting Pronouncements
	12 Months Ended Dec. 31, 2009 USD / shares
Recent Accounting Pronouncements	Note 3: Recent Accounting Pronouncements Business Combinations In November 2007, the Financial Accounting Standards Board (FASB) made changes to the accounting guidance related to business combinations. The updated guidance (i)continues to require that all business combinations be accounted for by applying the acquisition method, (ii)requires all transaction costs be expensed as incurred and (iii)rescinded the accounting guidance for uncertainties related to income taxes in a business combination. We have applied the updated guidance since January1, 2009, although none of our acquisitions in 2009 had a material impact on our consolidated financial statements. Noncontrolling Interests in Consolidated Financial Statements In November 2007, the FASB issued new accounting guidance that establishes accounting and reporting requirements for noncontrolling interests in consolidated financial statements. The guidance requires noncontrolling interests (previously referred to as minority interests) that are not redeemable to be separately reported in the equity section of an entitys consolidated balance sheet. Redeemable noncontrolling interests continue to be presented outside of equity. The guidance establishes accounting and reporting standards for (i)ownership interests in subsidiaries held by parties other than the parent, (ii)the amount of consolidated net income attributable to the parent and to the noncontrolling interests, (iii)changes in a parents ownership interest and (iv)the valuation of retained noncontrolling equity investments when a subsidiary is deconsolidated. In addition, it establishes disclosure requirements, including new financial statement captions that clearly distinguish between controlling and noncontrolling interests. These include a separate presentation of net income attributable to controlling and noncontrolling interests with the combined amounts labeled as Net income from consolidated operations in our statement of operations. Under the new guidance, Net income from consolidated operations is comparable to what was previously presented as Income from continuing operations before minority interest, and Net income attributable to Comcast Corporation is comparable to what was previously presented as Net income. The new accounting guidance requires the retrospective application of the new financial statement captions. We have applied the new guidance since January1, 2009. See Note 11 for further details on our noncontrolling interests. Consolidation of Variable Interest Entities In June 2009, the FASB updated the accounting guidance related to the consolidation of VIEs. The updated guidance (i)requires ongoing reassessments of whether an enterprise is the primary beneficiary of a VIE, (ii)changes the quantitative approach previously required for determining the primary beneficiary of a VIE and replaces it with a qualitative approach, and (iii)requires additional disclosure about an enterprises involvement in VIEs. The guidance will be effective for us on January1, 2010 and we do not expect it to have a material impact on our consolidated financial statements.

Earnings Per Share

Earnings Per Share
	12 Months Ended Dec. 31, 2009 USD / shares
Earnings Per Share	Note 4: Earnings Per Share Basic earnings per common share attributable to Comcast Corporation shareholders (Basic EPS) is computed by dividing net income attributable to Comcast Corporation by the weighted-average number of common shares outstanding during the period. Our potentially dilutive securities include potential common shares related to our stock options and our RSUs. Diluted earnings per common share attributable to Comcast Corporation shareholders (Diluted EPS) considers the impact of potentially dilutive securities using the treasury stock method, except in periods in which there is a loss, because the inclusion of the potential common shares would have an antidilutive effect. Diluted EPS excludes the impact of potential common shares related to our stock options in periods in which the option exercise price is greater than the average market price of our ClassA common stock or our ClassA Special common stock, as applicable (see Note 14). Diluted EPS for 2009, 2008 and 2007 excludes approximately 195million, 159million and 61million, respectively, of potential common shares related to our share-based compensation plans, because the inclusion of the potential common shares would have an antidilutive effect. 2009 2008 2007 Year ended December31 (in millions, except per share data) Net Income Attributable to Comcast Corporation Shares Per Share Amount Net Income Attributable to Comcast Corporation Shares Per Share Amount Net Income Attributable to Comcast Corporation Shares Per Share Amount Basic EPS attributable to Comcast Corporation shareholders $ 3,638 2,875 $ 1.27 $ 2,547 2,939 $ 0.87 $ 2,587 3,098 $ 0.84 Effect of dilutive securities: Assumed exercise or issuance of shares relating to stock plans 10 13 31 Diluted EPS attributable to Comcast Corporation shareholders $ 3,638 2,885 $ 1.26 $ 2,547 2,952 $ 0.86 $ 2,587 3,129 $ 0.83

Acquisitions and Other Signific

Acquisitions and Other Significant Events
	12 Months Ended Dec. 31, 2009 USD / shares
Acquisitions and Other Significant Events	Note 5: Acquisitions and Other Significant Events 2009 NBC Universal Transaction We entered into agreements with General Electric Company (GE) in December 2009 to form a new company of which we will own 51% and control, with the remaining 49% to be owned by GE. Under the terms of the transaction, GE will contribute NBC Universals businesses, including its cable and broadcast networks, filmed entertainment, televised entertainment, theme parks and unconsolidated investments, as well as other GE assets used primarily in NBC Universals business. NBC Universal will borrow $9.1 billion from third party lenders and distribute the proceeds to GE. We will contribute our national programming networks, our regional sports networks and certain of our Internet businesses, as well as other assets used primarily in those businesses, collectively valued at approximately $7.25 billion, and make a cash payment to GE of $7.1 billion less certain adjustments primarily based on the free cash flow generated by NBC Universal between December4, 2009 and the closing. GE will be entitled to cause the new company to redeem half of GEs interest three and a half years after the closing and its remaining interest seven years after the closing. If GE exercises its first redemption right, we have the right to purchase the remainder of GEs interest. If GE does not exercise its first redemption right, we have the right to purchase half of GEs interest five years after the closing. We also will have the right to purchase GEs remaining interest, if any, eight years after the closing. The redemption and purchase price will equal the ownership percentage being acquired multiplied by 120% of the fully distributed public market trading value of the new company, less half of the excess of 120% of that value over $28.15 billion. Subject to various limitations, we are committed to fund up to $2.875 billion in cash or common stock for each of the two redemptions (for an aggregate of up to $5.75 billion), with amounts not used in the first redemption to be available for the second redemption. The transaction is subject to various regulatory approvals and is expected to close by the end of 2010. The results of operations for the new company will be consolidated with our results of operations, as we will control the new company. When the transaction is completed, the NBC Universal businesses will be recorded at their fair value and the businesses we contribute will be recorded at their historical or carry-over basis. GEs interest will be recorded as a redeemable noncontrolling interest in our consolidated financial statements. 2008 Insight Transaction In April 2007, we and Insight Communications (Insight) agreed to divide the assets and liabilities of Insight Midwest, a 50%-50% cable system partnership with Insight (the Insight transaction). On December31, 2007, we contributed approximately $1.3 billion to Insight Midwest for our share of the partnerships debt. On January1, 2008, the distribution of the assets of Insight Midwest was completed without assumption of any of Insights debt by us and we received cable systems serving approximately 696,000 video customers in

Investments

Investments
	12 Months Ended Dec. 31, 2009 USD / shares
Investments	Note 6: Investments December31 (in millions) 2009 2008 Fair Value Method Equity securities $ 1,933 $ 940 Debt securities 3 1,933 943 Equity Method SpectrumCo, LLC 1,410 1,354 Clearwire LLC 530 421 Other 401 402 2,341 2,177 Cost Method AirTouch 1,494 1,479 Other 229 243 1,723 1,722 Total investments 5,997 4,842 Less: Current investments 50 59 Noncurrent investments $ 5,947 $ 4,783 Fair Value Method As of December31, 2009, we held $1.929 billion of fair value method equity securities related to our obligations under prepaid forward sale agreements as collateral. These obligations are recorded to other noncurrent liabilities and terminate between 2011 and 2015. At termination of these prepaid forward sale agreements, the counterparties are entitled to receive some or all of the equity securities, or an equivalent amount of cash at our option, based on the market value of the equity securities at that time. The net unrealized gains on investments accounted for as AFS securities as of December31, 2009 and 2008 were $ 34million and $ 29million, respectively. The amounts were reported as a component of accumulated other comprehensive income (loss), net of related deferred income taxes of $12 million and $10 million as of December31, 2009 and 2008, respectively. Available-For-Sale Securities Year ended December31 (in millions) 2009 2008 Cost $ 46 $ 60 Unrealized gains 34 34 Unrealized losses (5 ) Fair value $ 80 $ 89 Proceeds from the sale of AFS securities in 2009, 2008 and 2007 were $90 million, $638 million and $1.033 billion, respectively. Gross realized gains on these sales in 2009, 2008 and 2007 were $13 million, $1 million and $145 million, respectively. Sales of AFS securities in 2008 and 2007 consisted primarily of the sale of debt securities and sales of Time Warner Inc. common stock, respectively. Equity Method SpectrumCo, LLC SpectrumCo, LLC (SpectrumCo) is a joint venture in which we, along with TWC and Bright House Networks, are partners. SpectrumCo was the successful bidder for 137 wireless spectrum licenses for approximately $2.4 billion in the Federal Communications Commissions advanced wireless spectrum auction that concluded in September 2006. Our portion of the total cost to purchase the licenses was approximately $1.3 billion. Based on SpectrumCos currently planned activities, we have determined that it is not a VIE. We have and continue to account for this joint venture as an equity method investment based on its governance structure, notwithstanding our majority interest. Clearwire In November 2008, Sprint Nextel and the legal predecessor of Clearwire Corporation (old Clearwire) closed on a series of transactions (collectively, the Clearwire transaction) with an investor group made up of us, Intel, Google, TWC and Bright House Networks. As a result of the Clearwire transaction, Sprint Nextel and old Clearw

Property and Equipment

Property and Equipment
	12 Months Ended Dec. 31, 2009 USD / shares
Property and Equipment	Note 7: Property and Equipment December31 (in millions) WeightedAverage OriginalUsefulLifeat December31, 2009 2009 2008 Cable transmission equipment and distribution facilities 12years $ 16,059 $ 15,660 Customer premises equipment 6 years 20,154 17,788 Scalable infrastructure 7 years 6,525 5,776 Support capital 5 years 6,106 5,820 Buildings and building improvements 20 years 1,937 1,874 Land 206 205 Other 8 years 678 556 Property and equipment, at cost 51,665 47,679 Less: Accumulated depreciation (27,810 ) (23,235 ) Property and equipment, net $ 23,855 $ 24,444

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets
	12 Months Ended Dec. 31, 2009 USD / shares
Goodwill and Other Intangible Assets	Note 8: Goodwill and Other Intangible Assets The changes in the carrying amount of goodwill by business segment (see Note 18) are presented in the table below. (in millions) Cable Programming Corporate and Other Total Balance, December31, 2007 $ 12,842 $ 1,482 $ 381 $ 14,705 Acquisitions 306 139 209 654 Settlements and adjustments (475 ) (1 ) 6 (470 ) Balance, December31, 2008 $ 12,673 $ 1,620 $ 596 $ 14,889 Acquisitions 33 10 43 Settlements and adjustments 63 (62 ) 1 Balance, December31, 2009 $ 12,769 $ 1,630 $ 534 $ 14,933 Cable segment acquisitions in 2009 were primarily related to the acquisition of the remaining interest in New England Cable News that we did not already own. Programming segment acquisitions in 2009 were primarily related to the acquisitions of GolfNow and WorldGolf. Settlements and adjustments in 2009 were primarily related to the DailyCandy and Plaxo transactions. Cable segment acquisitions in 2008 were primarily related to the Insight transaction and the acquisition of an additional interest in Comcast SportsNet Bay Area. Programming segment acquisitions in 2008 were primarily related to the acquisition of the remaining interest in G4 that we did not already own. Corporate and Other acquisitions in 2008 were primarily related to Internet-related businesses, including Plaxo and DailyCandy. Settlements and adjustments in 2008 were primarily related to the settlement of an uncertain tax position of an acquired entity (see Note 15). The gross carrying amount and accumulated amortization of our intangible assets subject to amortization are presented in the table below. 2009 2008 December31 (in millions) Original Useful Life atDecember31,2009 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Customer relationships 4-12years $ 5,515 $ (4,370 ) $ 5,512 $ (4,030 ) Programming distribution rights 6-22 years 1,861 (1,119 ) 1,533 (859 ) Cable franchise renewal costs and contractual operating rights 5-15 years 968 (499 ) 1,154 (484 ) Software 3-5 years 2,283 (1,388 ) 1,887 (1,045 ) Patents and other technology rights 3-12 years 246 (148 ) 244 (119 ) Programming agreements and rights 1-10 years 1,094 (853 ) 1,508 (1,303 ) Other agreements and rights 2-25 years 849 (334 ) 880 (320 ) Total $ 12,816 $ (8,711 ) $ 12,718 $ (8,160 ) The estimated expenses for each of the next five years recognized in amortization expense and other accounts are presented in the table below. The amortization of certain intangible assets of our Programming segment are not recognized as amortization expense but as a reduction to revenue or a

Long-Term Debt

Long-Term Debt
	12 Months Ended Dec. 31, 2009 USD / shares
Long-Term Debt	Note 9: Long-Term Debt December31 (in millions) WeightedAverage Interest Rate as of December31,2009 2009 2008 Revolving bank credit facility due 2013 N/A $ $ 1,000 Senior notes with maturities of 5 years or less 6.82 % 6,861 9,425 Senior notes with maturities between 6 and 10 years 6.29 % 9,293 9,798 Senior notes with maturities greater than 10 years 7.00 % 12,287 11,284 Senior subordinated notes due 2012 10.63 % 202 202 ZONES due 2029 2.00 % 124 408 Other, including capital lease obligations 329 339 Total debt 6.41 %(a) $ 29,096 $ 32,456 Less: Current portion 1,156 2,278 Long-term debt $ 27,940 $ 30,178 (a) Includes the effects of our derivative financial instruments. As of December31, 2009 and 2008, our debt had an estimated fair value of $31.247 billion and $32.001 billion, respectively. The estimated fair value of our publicly traded debt is based on quoted market values on an active market for the debt. To estimate the fair value of debt issuances for which there are no quoted market prices, we use interest rates available to us for debt issuances with similar terms and remaining maturities. Some of our loan agreements require that we maintain certain financial ratios based on our debt and our operating income before depreciation and amortization. We were in compliance with all financial covenants for all periods presented. See Note 20 for a discussion of our subsidiary guarantee structures. As of December31, 2009 and 2008, accrued interest was $497 million and $520 million, respectively. Debt Maturities As of December31, 2009 (in millions) 2010 $ 1,156 2011 $ 1,809 2012 $ 832 2013 $ 2,450 2014 $ 1,091 Thereafter $ 21,758 Debt Borrowings Year ended December31, 2009 (in millions) 5.70% notes due 2019 $ 700 6.55% notes due 2039 800 Other 64 Total $ 1,564 We used the net proceeds of these borrowings, together with cash on hand, for the repurchase of debt securities prior to their scheduled maturities, the repayment of outstanding borrowings under our revolving credit facility, the repayment of debt at its maturity, as well as for working capital and general corporate purposes. Debt Repayments Year ended December31, 2009 (in millions) Revolving bank credit facility due 2013 $ 1,000 Floating rate notes due 2009 1,241 6.875% notes due 2009 750 8.375% notes due 2013 676 7.125% notes due 2013 367 7.875% senior debentures due 2013 312 ZONES due 2029 262 Other 130 Total $ 4,738 In July 2009, we completed a cash tender to purchase $1.3 billion aggregate principal amount of certain of our outstanding notes for approximately $1.5 billion. These notes consisted of approximately $621 million principal amount of our 8.375% notes due 2013, $367 million principal amount of our 7.125% notes due 2013 and $312 million princip

Fair Value Measurements and Der

Fair Value Measurements and Derivative Financial Instruments
	12 Months Ended Dec. 31, 2009 USD / shares
Fair Value Measurements and Derivative Financial Instruments	Note 10: Fair Value Measurements and Derivative Financial Instruments The accounting guidance related to financial assets and financial liabilities (financial instruments) establishes a hierarchy that prioritizes fair value measurements based on the types of inputs used for the various valuation techniques (market approach, income approach and cost approach). The levels of the hierarchy are described below: Level 1: consists of financial instruments whose value is based on quoted market prices for identical financial instruments in an active market Level 2: consists of financial instruments that are valued using models or other valuation methodologies. These models use inputs that are observable either directly or indirectly; Level 2 inputs include (i)quoted prices for similar assets or liabilities in active markets, (ii)quoted prices for identical or similar assets or liabilities in markets that are not active, (iii)pricing models whose inputs are observable for substantially the full term of the financial instrument and (iv)pricing models whose inputs are derived principally from or corroborated by observable market data through correlation or other means for substantially the full term of the financial instrument Level 3: consists of financial instruments whose values are determined using pricing models that use significant inputs that are primarily unobservable, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation Our assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of financial instruments and their classification within the fair value hierarchy. Financial instruments are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. There have been no changes in the classification of any financial instruments within the fair value hierarchy in the periods presented. Our financial instruments that are accounted for at fair value on a recurring basis are presented in the table below. Recurring Fair Value Measures Fair value as of December 31, 2009 Fair value as of December 31, 2008 (in millions) Level 1 Level2 Level3 Total Level1 Level 2 Level3 Total Assets Trading securities $ 1,855 $ $ $ 1,855 $ 884 $ $ $ 884 Available-for-sale securities 76 76 55 3 58 Equity warrants 2 2 1 1 Interest rate swap agreements 143 143 291 291 $ 1,931 $ 143 $ 2 $ 2,076 $ 939 $ 294 $ 1 $ 1,234 Liabilities Derivative component of ZONES $ $ 15 $ $ 15 $ $ 23 $ $ 23 Derivative component of prepaid forward sale agreements 349

Noncontrolling Interests

Noncontrolling Interests
	12 Months Ended Dec. 31, 2009 USD / shares
Noncontrolling Interests	Note 11: Noncontrolling Interests Certain of our subsidiaries that we consolidate are not wholly owned. Some of the agreements with the minority partners of these subsidiaries contain redemption features whereby interests held by the minority partners are redeemable either (i)at the option of the holder or (ii)upon the occurrence of an event that is not solely within our control. If interests were to be redeemed under these agreements, we would generally be required to purchase the interest at fair value on the date of redemption. These interests are presented on the balance sheet outside of equity under the caption Redeemable noncontrolling interests. Noncontrolling interests that do not contain such redemption features are presented in equity. In 2009, we acquired all of the noncontrolling interest of one of our technology ventures, which had a carrying value of approximately $35 million, for approximately $5 million and rights to existing intellectual property. The difference between the amount paid and the carrying value of the noncontrolling interest resulted in an increase of approximately $30 million to additional paid-in capital of Comcast Corporation. Also in 2009, through a series of transactions, we acquired all of the noncontrolling interest of one of our regional sports networks, which had a carrying value of approximately $4 million, for approximately $73 million. The difference between the amount paid and the carrying value of the noncontrolling interests resulted in a decrease of approximately $69 million to additional paid-in capital of Comcast Corporation. The table below presents the changes in equity resulting from net income attributable to Comcast Corporation and transfers to or from noncontrolling interests. Year ended December31, 2009 (in millions) Net income attributable to Comcast Corporation $ 3,638 Transfers from (to) noncontrolling interests: Increase in Comcast Corporation additional paid-in capital resulting from the purchase of noncontrolling interest 30 Decrease in Comcast Corporation additional paid-in capital resulting from the purchase of noncontrolling interest (69 ) Changes from net income attributable to Comcast Corporation and transfers from (to) noncontrolling interests $ 3,599

Postretirement, Pension and Oth

Postretirement, Pension and Other Employee Benefit Plans
	12 Months Ended Dec. 31, 2009 USD / shares
Postretirement, Pension and Other Employee Benefit Plans	Note 12: Postretirement, Pension and Other Employee Benefit Plans 2009 2008 2007 Year ended December31 (in millions) Postretirement Benefits Pension Benefits Postretirement Benefits Pension Benefits Postretirement Benefits Pension Benefits Benefit obligation $ 360 $ 184 $ 338 $ 181 $ 280 $ 179 Fair value of plan assets $ $ 176 $ $ 152 $ $ 157 Plan funded status and recorded benefit obligation $ (360 ) $ (8 ) $ (338 ) $ (29 ) $ (280 ) $ (22 ) Portion of benefit obligation not yet recognized in benefits expense $ (36 ) $ 46 $ (18 ) $ 67 $ (39 ) $ 1 Benefits expense $ 45 $ 2 $ 36 $ 1 $ 34 $ 4 Discount rate 6.05 % 5.75 % 6.15 % 6.00 % 6.65 % 6.25 % Expected return on plan assets N/A 8.00 % N/A 8.00 % N/A 8.00 % Postretirement Benefit Plans Our postretirement medical benefits cover substantially all of our employees who meet certain age and service requirements. The majority of eligible employees participate in the Comcast Postretirement Healthcare Stipend Program (the stipend plan), and a small number of eligible employees participate in legacy plans of acquired companies. The stipend plan provides an annual stipend for reimbursement of healthcare costs to each eligible employee based on years of service. Under the stipend plan, we are not exposed to the increasing costs of healthcare because the benefits are fixed at a predetermined amount. Substantially all of our postretirement benefit obligations are recorded to noncurrent liabilities. Pension Benefit Plans We sponsor two pension plans that together provide benefits to substantially all former employees of a previously acquired company. Future benefits for both plans have been frozen. Other Employee Benefits Deferred Compensation Plans We maintain unfunded, nonqualified deferred compensation plans for certain members of management and nonemployee directors (each a participant). The amount of compensation deferred by each participant is based on participant elections. Participant accounts are credited with income primarily based on a fixed annual rate. Participants are eligible to receive distributions of the amounts credited to their account based on elected deferral periods that are consistent with the plans and applicable tax law. We have purchased life insurance policies to fund a portion of the unfunded obligation related to our deferred compensation plans. As of December31, 2009 and 2008, the cash surrender value of these policies, which are recorded to other noncurrent assets, was approximately $264 million and $147 million, respectively. Year ended December31 (in millions) 2009 2008 2007 Benefit obligation $ 849 $ 797 $ 672 Interest expense $ 79 $ 76 $ 65 Split-Dollar Life Insurance We have collateral assignment

Equity

Equity
	12 Months Ended Dec. 31, 2009 USD / shares
Equity	Note 13: Equity Common Stock In the aggregate, holders of our ClassA common stock have 662 /3% of the voting power of our common stock and holders of our Class B common stock have 331/3% of the voting power of our common stock. Our ClassA Special common stock is generally nonvoting. Each share of our Class B common stock is entitled to 15 votes. The number of votes held by each share of our ClassA common stock depends on the number of shares of ClassA and Class B common stock outstanding at any given time. The 331/3% aggregate voting power of our Class B common stock cannot be diluted by additional issuances of any other class of common stock. Our Class B common stock is convertible, share for share, into ClassA or ClassA Special common stock, subject to certain restrictions. Share Repurchases In 2007, our Board of Directors authorized a $7 billion addition to our existing share repurchase authorization. Under this authorization, we may repurchase shares in the open market or in private transactions, subject to market conditions. The share repurchase program does not have an expiration date. As of December31, 2009, we had approximately $3.3 billion of availability remaining under our share repurchase authorization. We intend to complete repurchases under the current share repurchase authorization by the end of 2012, subject to market conditions. Aggregate Share Repurchases (in millions) 2009 2008 2007 Aggregate consideration $ 765 $ 2,800 $ 3,102 Shares repurchased 50 141 133 Changes in Common Stock Common Stock Share Class (shares, in millions) A ASpecial B Balance, January1, 2007 2,060 1,050 9 Stock compensation plans 17 6 Repurchase and retirement of common stock (25 ) (108 ) Employee stock purchase plan 2 Balance, December31, 2007 2,054 948 9 Stock compensation plans 4 3 Repurchase and retirement of common stock (20 ) (121 ) Employee stock purchase plan 3 Share exchange 20 (20 ) Balance, December31, 2008 2,061 810 9 Stock compensation plans 3 Repurchase and retirement of common stock (5 ) (45 ) Employee stock purchase plan 4 Balance, December31, 2009 2,063 765 9 Dividends Period Declared PerShare Amount February $ 0.0675 $ 195 May 0.0675 194 August 0.0675 193 December (paid in January 2010) 0.0945 268 Total $ 0.2970 $ 850 In December 2009, our Board of Directors increased the quarterly dividend paid in January 2010 from $0.0675 per share to $0.0945 per share. We expect to continue to pay quarterly dividends, though each dividend is subject to approval by our Board of Directors. Accumulated Other Comprehensive Income (Loss) December31 (in millions) 2009 2008 Unrealized gains (losses) on marketable securities $ 22 $ 19 Deferred gains (losses) on cash flow hedges (62 ) (97 ) Unreali

Share-Based Compensation

Share-Based Compensation
	12 Months Ended Dec. 31, 2009 USD / shares
Share-Based Compensation	Note 14: Share-Based Compensation Our approach to long-term incentive compensation includes the awarding of stock options and RSUs to certain employees and directors. We grant these awards under various plans. Additionally, through our employee stock purchase plan, employees are able to purchase shares of Comcast ClassA common stock at a discount through payroll deductions. Recognized Share-Based Compensation Expense Year ended December31 (in millions) 2009 2008 2007 Stock options $ 103 $ 99 $ 74 Restricted share units 93 96 79 Employee stock purchase plan 13 13 11 Total $ 209 $ 208 $ 164 Tax benefit $ 73 $ 71 $ 56 As of December31, 2009, we had unrecognized pretax compensation expense of $320 million related to nonvested stock options and unrecognized pretax compensation expense of $307 million related to nonvested RSUs that will be recognized over a weighted average period of approximately 2.0 years and 1.7 years, respectively. The amount of share-based compensation capitalized was not material to our consolidated financial statements for the periods presented. When stock options are exercised or RSU awards are settled through the issuance of shares, any income tax benefit realized in excess of the amount associated with compensation expense that was previously recognized for financial reporting purposes is presented as a financing activity rather than as an operating activity in our consolidated statement of cash flows. There was no excess cash income tax benefit classified as a financing cash inflow in 2009. In 2008 and 2007, there was approximately $15 million and $33 million, respectively, of excess cash income tax benefit classified as a financing cash inflow. Option Plans We maintain stock option plans for certain employees under which fixed-price stock options may be granted and the option price is generally not less than the fair value of a share of the underlying stock at the date of grant. Under our stock option plans, a combined total of approximately 254million shares of our ClassA and ClassA Special common stock are reserved for the exercise of stock options, including those outstanding as of December31, 2009. Option terms are generally 10 years, with options generally becoming exercisable within 5 years from the date of grant. We use the Black-Scholes option pricing model to estimate the fair value of each stock option on the date of grant. The Black-Scholes option pricing model uses the assumptions summarized in the table below. Dividend yield is based on the yield at the date of grant. Expected volatility is based on a blend of implied and historical volatility of our ClassA common stock. The risk-free rate is based on the U.S. Treasury yield curve in effect at the date of grant. We use historical data on the exercise of stock options and other factors expected to impact holders behavior to estimate the expected term of the options granted. The table below summarizes the weighted-average fair values at the date of grant of a ClassA common stock option granted under our stock option plans

Income Taxes

Income Taxes
	12 Months Ended Dec. 31, 2009 USD / shares
Income Taxes	Note 15: Income Taxes Components of Income Tax Expense Year ended December31 (in millions) 2009 2008 2007 Current expense (benefit) Federal $ 802 $ 751 $ 1,280 State (156 ) 287 273 646 1,038 1,553 Deferred expense (benefit) Federal 945 547 128 State (113 ) (52 ) 119 832 495 247 Income tax expense $ 1,478 $ 1,533 $ 1,800 Our income tax expense differs from the federal statutory amount because of the effect of the items detailed in the table below. Year ended December31 (in millions) 2009 2008 2007 Federal tax at statutory rate $ 1,787 $ 1,420 $ 1,522 State income taxes, net of federal benefit 174 45 153 Nondeductible losses from joint ventures and equity in net income (losses) of affiliates, net 1 (1 ) (3 ) Benefit related to certain subsidiary reorganizations (151 ) Adjustments to uncertain and effectively settled tax positions (178 ) 34 35 Accrued interest on uncertain and effectively settled tax positions, net (120 ) 65 110 Other (35 ) (30 ) (17 ) Income tax expense $ 1,478 $ 1,533 $ 1,800 Components of Net Deferred Tax Liability December31 (in millions) 2009 2008 Deferred Tax Assets: Net operating loss carryforwards $ 375 $ 445 Differences between book and tax basis of long-term debt 137 153 Nondeductible accruals and other 1,188 1,351 Less: Valuation allowance (214 ) (225 ) 1,486 1,724 Deferred Tax Liabilities: Differences between book and tax basis of property and equipment and intangible assets 27,870 27,354 Differences between book and tax basis of investments 662 588 Differences between book and tax basis of indexed debt securities 514 472 29,046 28,414 Net deferred tax liability $ 27,560 $ 26,690 Changes in net deferred income tax liabilities in 2009 that were not recorded as deferred income tax expense are related to increases of approximately $37 million associated with items included in other comprehensive income (loss). Our net deferred tax liability includes approximately $23 billion related to franchise rights that will remain unchanged unless we recognize an impairment or dispose of a franchise. Net deferred tax assets included in current assets are primarily related to our current investments and current liabilities. As of December31, 2009, we had federal net operating loss carryforwards of $185 million and various state net operating loss carryforwards that expire in periods through 2029. The determination of the state net operating loss carryforwards is dependent on our subsidiaries taxable income or loss, apportionment percentages, and state laws that can change from year to year and impact the amoun

Statement of Cash Flows - Suppl

Statement of Cash Flows - Supplemental Information
	12 Months Ended Dec. 31, 2009 USD / shares
Statement of Cash Flows - Supplemental Information	Note 16: Statement of Cash Flows Supplemental Information Year ended December31 (in millions) 2009 2008 2007 Interest $ 2,040 $ 2,256 $ 2,134 Income taxes $ 1,303 $ 762 $ 1,638 Noncash Financing and Investing Activities During 2009, we: recorded a liability of approximately $268 million for a quarterly cash dividend of $0.0945 per common share paid in January 2010, which is a noncash financing activity acquired approximately $389 million of property and equipment and software that were accrued but unpaid, which is a noncash investing activity During 2008, we: exchanged our 50% interest in the Insight asset pool for Insights 50% interest in the Comcast asset pool, which is a noncash investing activity recorded a liability of approximately $180 million for a quarterly cash dividend of $0.0625 per common share paid in January 2009, which is a noncash financing activity acquired approximately $559 million of property and equipment and software that were accrued but unpaid, which is a noncash investing activity issued an interest in a consolidated entity with a value of approximately $145 million in exchange for certain programming rights, which is a noncash investing activity During 2007, we: exchanged our 50% interest in the Kansas City asset pool for TWCs 50% interest in the Houston asset pool, which is a noncash investing activity settled the remaining outstanding $49 million face amount of exchangeable notes by delivering approximately 1.8million of the 2.2million underlying Vodafone ADRs to the counterparty, which is a noncash financing and investing activity entered into capital leases totaling $46 million, which is a noncash investing and financing activity acquired approximately $593 million of property and equipment and software that were accrued but unpaid, which is a noncash investing activity

Commitments and Contingencies

Commitments and Contingencies
	12 Months Ended Dec. 31, 2009 USD / shares
Commitments and Contingencies	Note 17: Commitments and Contingencies Commitments Our programming networks have entered into license agreements for programs and sporting events that are available for telecast. In addition, we, through Comcast Spectacor, have employment agreements with both players and coaches of our professional sports teams. Certain of these employment agreements, which provide for payments that are guaranteed regardless of employee injury or termination, are covered by disability insurance if certain conditions are met. One of our subsidiaries supports debt compliance with respect to obligations of a cable system in which we hold an ownership interest. Although there can be no assurance, we believe that we will not be required to meet our obligation under this commitment, which expires March 2011. The total notional amount of our commitment was $410 million as of December31, 2009, at which time there were no quoted market prices for similar agreements. The table below summarizes our minimum annual commitments under the programming license agreements of our programming networks and regional sports networks and our minimum annual rental commitments for office space, equipment and transponder service agreements under noncancelable operating leases. As of December31, 2009 (in millions) Programming License Agreements Operating Leases 2010 $ 677 $ 333 2011 $ 654 $ 257 2012 $ 599 $ 214 2013 $ 604 $ 181 2014 $ 595 $ 151 Thereafter $ 5,822 $ 743 The following table summarizes our rental expense and programming license expense charged to operations: Year ended December31 (in millions) 2009 2008 2007 Rental expense $ 418 $ 436 $ 358 Programming license expense $ 671 $ 548 $ 484 Contingencies We and the minority owner group in Comcast Spectacor each have the right to initiate an exit process under which the fair market value of Comcast Spectacor would be determined by appraisal. Following such determination, we would have the option to acquire the 24.3% interest in Comcast Spectacor owned by the minority owner group based on the appraised fair market value. In the event we do not exercise this option, we and the minority owner group would then be required to use our best efforts to sell Comcast Spectacor. The minority owners in certain of our technology development ventures also have rights to trigger an exit process after a certain period of time based on the fair value of the entities at the time the exit process is triggered. Antitrust Cases We are defendants in two purported class actions originally filed in December 2003 in the United States District Courts for the District of Massachusetts and the Eastern District of Pennsylvania. The potential class in the Massachusetts case, which has been transferred to the Eastern District of Pennsylvania, is our subscriber base in the Boston Cluster area, and the potential class in the Pennsylvania case is our subscriber base in the Philadelphia and Chicago Clusters, as those terms are defined in the complaints. In each case, the plaintiffs alleg

Financial Data by Business Segm

Financial Data by Business Segment
	12 Months Ended Dec. 31, 2009 USD / shares
Financial Data by Business Segment	Note 18: Financial Data by Business Segment Our reportable segments consist of our Cable and Programming businesses. In evaluating the profitability of our segments, the components of net income (loss) below operating income (loss) before depreciation and amortization are not separately evaluated by our management.Assets are not allocated to segments for management reporting although approximately 95% of our assets relate to the Cable segment. Our financial data by business segment is presented in the table below. (in millions) Cable(a)(b) Programming(c) Corporateand Other(d)(e) Eliminations(e)(f) Total 2009 Revenue(g) $ 33,857 $ 1,496 $ 748 $ (345 ) $ 35,756 Operating income (loss) before depreciation and amortization(h) 13,694 389 (366 ) (3 ) 13,714 Depreciation and amortization 6,214 196 122 (32 ) 6,500 Operating income (loss) 7,480 193 (488 ) 29 7,214 Capital expenditures 5,037 34 46 5,117 2008 Revenue(g)(i) $ 32,610 $ 1,426 $ 644 $ (257 ) $ 34,423 Operating income (loss) before depreciation and amortization(h) 13,170 362 (399 ) (1 ) 13,132 Depreciation and amortization 6,125 199 107 (31 ) 6,400 Operating income (loss) 7,045 163 (506 ) 30 6,732 Capital expenditures 5,545 44 161 5,750 2007 Revenue(g)(i) $ 29,470 $ 1,314 $ 515 $ (239 ) $ 31,060 Operating income (loss) before depreciation and amortization(h) 11,922 286 (425 ) 3 11,786 Depreciation and amortization 5,924 223 100 (39 ) 6,208 Operating income (loss) 5,998 63 (525 ) 42 5,578 Capital expenditures 5,993 35 130 6,158 (a) For the years ended December31, 2009, 2008 and 2007, Cable segment revenue was derived from the following services: 2009 2008 2007 Video(i) 57.2 % 58.8 % 60.9 % High-speed Internet 22.9 % 22.2 % 21.7 % Phone 9.6 % 8.1 % 6.0 % Advertising(i) 4.3 % 5.2 % 5.9 % Franchise fees 2.8 % 2.8 % 2.8 % Other(i) 3.2 % 2.9 % 2.7 % Total 100.0 % 100.0 % 100.0 % Subscription revenue received from customers who purchase bundled services at a discounted rate is allocated proportionally to each service based on the individual services price on a stand-alone basis. (b) Our Cable segment includes our regional sports networks. (c) Our Programming segment consists primarily of our consolidated national programming networks, E!, Golf Channel, VERSUS, G4 and Style. (d) Corporate and Other activities include Comcast Interactive Media, Comcast Spectacor, a portion of operating results of our less than wholly owned t

Quarterly Financial Information

Quarterly Financial Information (Unaudited)
	12 Months Ended Dec. 31, 2009 USD / shares
Quarterly Financial Information (Unaudited)	Note 19: Quarterly Financial Information (Unaudited) (in millions, except per share data) First Quarter Second Quarter Third Quarter Fourth Quarter Total Year 2009 Revenue(a) $ 8,866 $ 8,978 $ 8,845 $ 9,067 $ 35,756 Operating income $ 1,811 $ 1,875 $ 1,711 $ 1,817 $ 7,214 Net income attributable to Comcast Corporation $ 772 $ 967 $ 944 $ 955 $ 3,638 Basic earnings per common share attributable to Comcast Corporation shareholders $ 0.27 $ 0.33 $ 0.33 $ 0.33 $ 1.27 Diluted earnings per common share attributable to Comcast Corporation shareholders $ 0.27 $ 0.33 $ 0.33 $ 0.33 $ 1.26 Dividends declared per common share attributable to Comcast Corporation shareholders $ 0.0675 $ 0.0675 $ 0.0675 $ 0.0945 $ 0.297 2008 Revenue(a) $ 8,423 $ 8,597 $ 8,592 $ 8,811 $ 34,423 Operating income $ 1,555 $ 1,750 $ 1,670 $ 1,757 $ 6,732 Net income attributable to Comcast Corporation $ 732 $ 632 $ 771 $ 412 $ 2,547 Basic earnings per common share attributable to Comcast Corporation shareholders $ 0.24 $ 0.21 $ 0.26 $ 0.14 $ 0.87 Diluted earnings per common share attributable to Comcast Corporation shareholders $ 0.24 $ 0.21 $ 0.26 $ 0.14 $ 0.86 Dividends declared per common share attributable to Comcast Corporation shareholders $ 0.0625 $ 0.0625 $ 0.0625 $ 0.0625 $ 0.250 (a) Reclassifications have been made to prior years to conform to classifications used in 2009.

Condensed Consolidating Financi

Condensed Consolidating Financial Information
	12 Months Ended Dec. 31, 2009 USD / shares
Condensed Consolidating Financial Information	Note 20: Condensed Consolidating Financial Information Comcast Corporation and four of our wholly owned cable holding company subsidiaries, Comcast Cable Communications, LLC (CCCL), Comcast MO Group, Inc. (Comcast MO Group), Comcast Cable Holdings, LLC (CCH) and Comcast MO of Delaware, LLC (Comcast MO of Delaware), have fully and unconditionally guaranteed each others debt securities. Comcast MO Group, CCH and Comcast MO of Delaware are collectively referred to as the Combined CCHMO Parents. On August31, 2009, we merged our wholly owned subsidiary, Comcast Cable Communications Holdings, Inc. (CCCH), a guarantor prior to the merger, with and into CCCL. Accordingly, the financial information for the CCCL parent reflects both the former CCCH parent and the CCCL parent for all periods presented. Comcast Corporation provides an unconditional subordinated guarantee of $211 million principal amount currently outstanding of Comcast Holdings ZONES due October 2029 and $202 million principal amount currently outstanding of Comcast Holdings 105 /8% senior subordinated debentures due 2012. Comcast Corporation does not guarantee the $71 million principal amount outstanding of Comcast Holdings ZONES due November 2029. We have included Comcast Holdings condensed consolidated financial information for all periods presented. Our condensed consolidating financial information is presented in the tables below. Condensed Consolidating Balance Sheet December31, 2009 (in millions) Comcast Parent CCCL Parent Combined CCHMO Parents Comcast Holdings Non- Guarantor Subsidiaries Elimination and Consolidation Adjustments Consolidated Comcast Corporation Assets Cash and cash equivalents $ $ $ $ $ 671 $ $ 671 Investments 50 50 Accounts receivable, net 1,711 1,711 Other current assets 169 2 620 791 Total current assets 169 2 3,052 3,223 Investments 5,947 5,947 Investments in and amounts due from subsidiaries eliminated upon consolidation 73,943 80,766 47,141 69,959 5,721 (277,530 ) Property and equipment, net 299 23,556 23,855 Franchise rights 59,452 59,452 Goodwill 14,933 14,933 Other intangible assets, net 11 4,094 4,105 Other noncurrent assets, net 419 13 6 780 1,218 Total assets $ 74,841 $ 80,781 $ 47,141 $ 69,965 $ 117,535 $ (277,530 ) $ 112,733 Liabilities and Equity Accounts payable and accrued expenses related totradecreditors $ 14 $ $ $ $ 3,080 $ $ 3,094 Accrued expenses and other current liabilities 1,009 176 75 131 1,608

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts
	12 Months Ended Dec. 31, 2009 USD / shares
Schedule II - Valuation and Qualifying Accounts	Comcast Corporation and Subsidiaries ScheduleIIValuation and Qualifying Accounts Years Ended December31, 2009, 2008 and 2007 Allowance for Doubtful Accounts (inmillions) Balanceat Beginning of Year Additions Chargedto Costsand Expenses Deductions from Reserves(a) Balance at End of Year 2009 $ 190 $ 385 $ 400 $ 175 2008 181 446 437 190 2007 157 418 394 181 (a) Uncollectible accounts written off.

Document Information

Document Information
	12 Months Ended Dec. 31, 2009 USD / shares
Document Type	10-K
Amendment Flag	false
Document Period End Date	2009-12-31

Entity Information

Entity Information (USD $)
	12 Months Ended Dec. 31, 2009	Jun. 30, 2009
Trading Symbol	CMCSA
Entity Registrant Name	COMCAST CORP
Entity Central Index Key	0001166691
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	2,063,073,161
Entity Public Float		$29,778,000,000
Class A Special common stock
Entity Common Stock, Shares Outstanding	765,056,270
Entity Public Float		$11,063,000,000
Class B common stock
Entity Common Stock, Shares Outstanding	9,444,375