Document_and_Entity_Informatio
Document and Entity Information | 3 Months Ended |
Mar. 31, 2014 | |
Document Type | '10-Q |
Amendment Flag | 'false |
Document Period End Date | 31-Mar-14 |
Document Fiscal Year Focus | '2014 |
Document Fiscal Period Focus | 'Q1 |
Trading Symbol | 'cmcsa |
Entity Registrant Name | 'COMCAST CORP |
Entity Central Index Key | '0001166691 |
Current Fiscal Year End Date | '--12-31 |
Entity Filer Category | 'Large Accelerated Filer |
NBCUniversal Media, LLC [Member] | ' |
Amendment Flag | 'false |
Entity Registrant Name | 'NBCUniversal Media, LLC |
Entity Central Index Key | '0000902739 |
Entity Filer Category | 'Non-accelerated Filer |
Class A Common Stock [Member] | ' |
Entity Common Stock, Shares Outstanding | 2,146,295,093 |
ClassA Special Common Stock [Member] | ' |
Entity Common Stock, Shares Outstanding | 444,064,771 |
Class B Common Stock [Member] | ' |
Entity Common Stock, Shares Outstanding | 9,444,375 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheet (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Current Assets: | ' | ' |
Cash and cash equivalents | $3,054 | $1,718 |
Investments [Current] | 2,389 | 3,573 |
Receivables, net | 6,151 | 6,376 |
Programming rights | 863 | 928 |
Other current assets | 1,586 | 1,480 |
Total current assets | 14,043 | 14,075 |
Film and television costs | 5,058 | 4,994 |
Investments | 3,090 | 3,770 |
Property and equipment, net | 29,588 | 29,840 |
Franchise rights | 59,364 | 59,364 |
Goodwill | 27,103 | 27,098 |
Other intangible assets, net | 17,145 | 17,329 |
Other noncurrent assets, net | 2,382 | 2,343 |
Total assets | 157,773 | 158,813 |
Current Liabilities: | ' | ' |
Accounts payable and accrued expenses related to trade creditors | 5,534 | 5,528 |
Accrued participations and residuals | 1,256 | 1,239 |
Deferred revenue | 776 | 898 |
Accrued expenses and other current liabilities | 7,418 | 7,967 |
Current portion of long-term debt | 2,819 | 3,280 |
Total current liabilities | 17,803 | 18,912 |
Long-term debt, less current portion | 44,581 | 44,567 |
Deferred income taxes | 31,595 | 31,935 |
Other noncurrent liabilities | 11,109 | 11,384 |
Commitments and contingencies | ' | ' |
Redeemable noncontrolling interests and redeemable subsidiary preferred stock | 1,053 | 957 |
Equity: | ' | ' |
Preferred stock - authorized, 20,000,000 shares; issued, zero | 0 | 0 |
Common stock | 30 | 30 |
Additional paid-in capital | 38,985 | 38,890 |
Retained earnings | 19,737 | 19,235 |
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) | 33 | 56 |
Total Comcast Corporation shareholders' equity | 51,268 | 50,694 |
Noncontrolling interests | 364 | 364 |
Total equity | 51,632 | 51,058 |
Total liabilities and equity | 157,773 | 158,813 |
NBCUniversal Media, LLC [Member] | ' | ' |
Current Assets: | ' | ' |
Cash and cash equivalents | 1,125 | 967 |
Receivables, net | 4,826 | 4,911 |
Programming rights | 843 | 903 |
Other current assets | 804 | 615 |
Total current assets | 7,598 | 7,396 |
Film and television costs | 5,048 | 4,983 |
Investments | 898 | 884 |
Property and equipment, net | 7,727 | 7,650 |
Goodwill | 14,887 | 14,882 |
Intangible assets, net | 14,688 | 14,857 |
Other noncurrent assets, net | 1,093 | 1,087 |
Total assets | 51,939 | 51,739 |
Current Liabilities: | ' | ' |
Accounts payable and accrued expenses related to trade creditors | 1,421 | 1,583 |
Accrued participations and residuals | 1,256 | 1,239 |
Program obligations | 654 | 657 |
Deferred revenue | 689 | 846 |
Accrued expenses and other current liabilities | 1,269 | 1,465 |
Note payable to Comcast | 938 | 799 |
Current portion of long-term debt | 905 | 906 |
Total current liabilities | 7,132 | 7,495 |
Long-term debt, less current portion | 10,255 | 10,259 |
Accrued participations residuals and program obligations | 1,055 | 1,015 |
Other noncurrent liabilities | 3,362 | 3,412 |
Commitments and contingencies | ' | ' |
Redeemable noncontrolling interests | 317 | 231 |
Equity: | ' | ' |
Member's capital | 29,542 | 29,056 |
Accumulated other comprehensive income (loss) | -13 | -16 |
Total NBCUniversal member's equity | 29,529 | 29,040 |
Noncontrolling interests | 289 | 287 |
Total NBCUniversal equity | 29,818 | 29,327 |
Total liabilities and equity | 51,939 | 51,739 |
Class A Common Stock [Member] | ' | ' |
Equity: | ' | ' |
Common stock | 25 | 25 |
Class B Common Stock [Member] | ' | ' |
Equity: | ' | ' |
Common stock | 0 | 0 |
ClassA Special Common Stock [Member] | ' | ' |
Equity: | ' | ' |
Common stock | $5 | $5 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheet (Parenthetical) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, except Share data, unless otherwise specified | ||
Preferred stock, authorized | 20,000,000 | 20,000,000 |
Preferred stock, issued | 0 | 0 |
Accumulated depreciation | $43,381 | $42,574 |
Accumulated amortization | 9,141 | 8,874 |
NBCUniversal Media, LLC [Member] | ' | ' |
Accumulated depreciation | 1,748 | 1,599 |
Accumulated amortization | $4,152 | $4,003 |
Class A Common Stock [Member] | ' | ' |
Common stock, par value | $0.01 | $0.01 |
Common stock, authorized | 7,500,000,000 | 7,500,000,000 |
Common stock, issued | 2,511,755,843 | 2,503,535,883 |
Common stock, outstanding | 2,146,295,093 | 2,138,075,133 |
Treasury stock common shares | 365,460,750 | 365,460,750 |
ClassA Special Common Stock [Member] | ' | ' |
Common stock, par value | $0.01 | $0.01 |
Common stock, authorized | 7,500,000,000 | 7,500,000,000 |
Common stock, issued | 514,999,535 | 529,964,944 |
Common stock, outstanding | 444,064,771 | 459,030,180 |
Treasury stock common shares | 70,934,764 | 70,934,764 |
Class B Common Stock [Member] | ' | ' |
Common stock, par value | $0.01 | $0.01 |
Common stock, authorized | 75,000,000 | 75,000,000 |
Common stock, issued | 9,444,375 | 9,444,375 |
Common stock, outstanding | 9,444,375 | 9,444,375 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statement of Income (USD $) | 3 Months Ended | |
In Millions, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Revenue | $17,408 | $15,310 |
Costs and Expenses: | ' | ' |
Programming and production | 5,908 | 4,663 |
Other operating and administrative | 4,752 | 4,466 |
Advertising, marketing and promotion | 1,210 | 1,147 |
Depreciation | 1,569 | 1,566 |
Amortization | 401 | 401 |
Total costs and expenses | 13,840 | 12,243 |
Operating income | 3,568 | 3,067 |
Other Income (Expense): | ' | ' |
Interest expense | -642 | -653 |
Investment income (loss), net | 113 | 72 |
Equity in net income (losses) of investees, net | 32 | 11 |
Other income (expense), net | -15 | 73 |
Nonoperating income (expense) | -512 | -497 |
Income before income taxes | 3,056 | 2,570 |
Income tax expense | -1,118 | -925 |
Net income | 1,938 | 1,645 |
Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock | -67 | -208 |
Net income attributable to Parent | 1,871 | 1,437 |
Basic earnings per common share attributable to Comcast Corporation shareholders | $0.72 | $0.55 |
Diluted earnings per common share attributable to Comcast Corporation shareholders | $0.71 | $0.54 |
Dividends declared per common share | $0.23 | $0.20 |
NBCUniversal Media, LLC [Member] | ' | ' |
Revenue | 6,876 | 5,340 |
Costs and Expenses: | ' | ' |
Programming and production | 3,742 | 2,701 |
Other operating and administrative | 1,274 | 1,168 |
Advertising, marketing and promotion | 549 | 518 |
Depreciation | 162 | 151 |
Amortization | 203 | 193 |
Total costs and expenses | 5,930 | 4,731 |
Operating income | 946 | 609 |
Other Income (Expense): | ' | ' |
Interest expense | -129 | -129 |
Investment income (loss), net | 6 | 3 |
Equity in net income (losses) of investees, net | 18 | 11 |
Other income (expense), net | -36 | -42 |
Nonoperating income (expense) | -141 | -157 |
Income before income taxes | 805 | 452 |
Income tax expense | -64 | -41 |
Net income | 741 | 411 |
Net income attributable to Parent | $682 | $355 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statement of Income (NBCUniversal) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Revenue | $17,408 | $15,310 |
Costs and Expenses: | ' | ' |
Programming and production | 5,908 | 4,663 |
Other operating and administrative | 4,752 | 4,466 |
Advertising, marketing and promotion | 1,210 | 1,147 |
Depreciation | 1,569 | 1,566 |
Amortization | 401 | 401 |
Total costs and expenses | 13,840 | 12,243 |
Operating income | 3,568 | 3,067 |
Other Income (Expense): | ' | ' |
Interest expense | -642 | -653 |
Investment income (loss), net | 113 | 72 |
Equity in net income (losses) of investees, net | 32 | 11 |
Other income (expense), net | -15 | 73 |
Nonoperating income (expense) | -512 | -497 |
Income before income taxes | 3,056 | 2,570 |
Income tax expense | -1,118 | -925 |
Net income | 1,938 | 1,645 |
Net income attributable to Parent | 1,871 | 1,437 |
N B C Universal Media L L C [Member] | ' | ' |
Revenue | 6,876 | 5,340 |
Costs and Expenses: | ' | ' |
Programming and production | 3,742 | 2,701 |
Other operating and administrative | 1,274 | 1,168 |
Advertising, marketing and promotion | 549 | 518 |
Depreciation | 162 | 151 |
Amortization | 203 | 193 |
Total costs and expenses | 5,930 | 4,731 |
Operating income | 946 | 609 |
Other Income (Expense): | ' | ' |
Interest expense | -129 | -129 |
Investment income (loss), net | 6 | 3 |
Equity in net income (losses) of investees, net | 18 | 11 |
Other income (expense), net | -36 | -42 |
Nonoperating income (expense) | -141 | -157 |
Income before income taxes | 805 | 452 |
Income tax expense | -64 | -41 |
Net income | 741 | 411 |
Net (income) loss attributable to noncontrolling interests | -59 | -56 |
Net income attributable to Parent | $682 | $355 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statement of Comprehensive Income (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Net income | $1,938 | $1,645 |
Unrealized gains (losses) on marketable securities, net of deferred taxes | 30 | 20 |
Deferred gains (losses) on cash flow hedges, net of deferred taxes | -2 | -36 |
Amounts Reclassified To Net Income: | ' | ' |
Realized (gains) losses on marketable securities, net of deferred taxes | -50 | -23 |
Realized (gains) losses on cash flow hedges, net of deferred taxes | -3 | 46 |
Employee benefit obligations, net of deferred taxes | ' | 1 |
Currency translation adjustments, net of deferred taxes | 2 | -17 |
Comprehensive income | 1,915 | 1,636 |
Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock | -67 | -208 |
Other comprehensive (income) loss attributable to noncontrolling interests | ' | 9 |
Comprehensive income attributable to Parent | 1,848 | 1,437 |
NBCUniversal Media, LLC [Member] | ' | ' |
Net income | 741 | 411 |
Amounts Reclassified To Net Income: | ' | ' |
Currency translation adjustments, net of deferred taxes | 3 | -22 |
Comprehensive income | 744 | 389 |
Net (income) loss attributable to noncontrolling interests | -59 | -56 |
Comprehensive income attributable to Parent | $685 | $333 |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statement of Comprehensive Income (Parenthetical) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Unrealized gains (losses) on marketable securities, deferred taxes | ($17) | ($12) |
Deferred gains (losses) on cash flow hedges, deferred taxes | 1 | 21 |
Realized (gains) losses on marketable securities, deferred taxes | 30 | 12 |
Realized (gains) losses on cash flow hedges, deferred taxes | 2 | -27 |
Employee benefit obligations, deferred taxes | ' | -1 |
Currency translation adjustments, deferred taxes | ($1) | $5 |
Condensed_Consolidated_Stateme4
Condensed Consolidated Statement of Cash Flows (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Operating Activities | ' | ' |
Net cash provided by (used in) operating activities | $4,486 | $4,369 |
Investing Activities | ' | ' |
Capital expenditures | -1,448 | -1,361 |
Cash paid for intangible assets | -217 | -182 |
Acquisitions and construction of real estate properties | ' | -1,311 |
Proceeds from sales of businesses and investments | 300 | 74 |
Purchases of investments | -37 | -88 |
Other | -103 | 105 |
Net cash provided by (used in) investing activities | -1,505 | -2,763 |
Financing Activities | ' | ' |
Proceeds from (repayments of) short-term borrowings, net | -364 | 491 |
Proceeds from borrowings | 2,187 | 2,933 |
Repurchases and repayments of debt | -2,260 | -1,811 |
Repurchases and retirements of common stock | -750 | -500 |
Dividends paid | -508 | -429 |
Issuances of common stock | 20 | 13 |
Purchase of NBCUniversal noncontrolling common equity interest | ' | -10,747 |
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock | -66 | -49 |
Settlement of Station Venture liability | ' | -602 |
Other | 96 | -17 |
Net cash provided by (used in) financing activities | -1,645 | -10,718 |
Increase (decrease) in cash and cash equivalents | 1,336 | -9,112 |
Cash and cash equivalents, beginning of period | 1,718 | 10,951 |
Cash and cash equivalents, end of period | 3,054 | 1,839 |
NBCUniversal Media, LLC [Member] | ' | ' |
Operating Activities | ' | ' |
Net cash provided by (used in) operating activities | 756 | 1,105 |
Investing Activities | ' | ' |
Capital expenditures | -291 | -263 |
Cash paid for intangible assets | -32 | -26 |
Note receivable from Comcast | ' | -400 |
Acquisitions of real estate properties | ' | -1,311 |
Purchases of investments | -7 | -37 |
Other | -153 | -9 |
Net cash provided by (used in) investing activities | -483 | -2,046 |
Financing Activities | ' | ' |
Proceeds from (repayments of) borrowings from Comcast, net | 139 | ' |
Repurchases and repayments of debt | -1 | -88 |
Redemption Transaction distribution | ' | -3,200 |
Distributions to noncontrolling interests | -54 | -48 |
Distributions to member | -195 | ' |
Settlement of Station Venture liability | ' | -602 |
Other | -4 | -39 |
Net cash provided by (used in) financing activities | -115 | -3,977 |
Increase (decrease) in cash and cash equivalents | 158 | -4,918 |
Cash and cash equivalents, beginning of period | 967 | 5,921 |
Cash and cash equivalents, end of period | $1,125 | $1,003 |
Condensed_Consolidated_Stateme5
Condensed Consolidated Statement of Changes in Equity (USD $) | Total | NBCUniversal Media, LLC [Member] | Redeemable Noncontrolling Interests And Redeemable Subisdiary Preferred Stock [Member] | Class A Common Stock [Member] | ClassA Special Common Stock [Member] | Class B Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Treasury Stock at Cost [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Noncontrolling Interests [Member] | Noncontrolling Interests [Member] | Redeemable Noncontrolling Interest [Member] | Member's Capital [Member] |
In Millions | NBCUniversal Media, LLC [Member] | NBCUniversal Media, LLC [Member] | NBCUniversal Media, LLC [Member] | NBCUniversal Media, LLC [Member] | |||||||||||
Beginning balance at Dec. 31, 2012 | ' | $32,254 | ' | ' | ' | ' | ' | ' | ' | ' | ($65) | ' | $419 | $131 | $31,900 |
Beginning Balance at Dec. 31, 2012 | 49,796 | ' | 16,998 | 25 | 6 | 0 | 40,547 | 16,280 | -7,517 | 15 | ' | 440 | ' | ' | ' |
Stock compensation plans | 21 | ' | ' | ' | ' | ' | 146 | -125 | ' | ' | ' | ' | ' | ' | ' |
Repurchases and retirements of common stock | -500 | ' | ' | ' | ' | ' | -152 | -348 | ' | ' | ' | ' | ' | ' | ' |
Employee stock purchase plans | 22 | ' | ' | ' | ' | ' | 22 | ' | ' | ' | ' | ' | ' | ' | ' |
Compensation Plans | ' | 7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7 |
Other comprehensive income (loss) | ' | -22 | -9 | ' | ' | ' | ' | ' | ' | ' | -22 | ' | ' | ' | ' |
Redemption Transaction distribution | ' | -3,200 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3,200 |
Dividends declared | -514 | ' | ' | ' | ' | ' | ' | -514 | ' | ' | ' | ' | ' | ' | ' |
Purchase of NBCUniversal noncontrolling common equity interest | -1,508 | ' | -17,006 | ' | ' | ' | -1,482 | ' | ' | -26 | ' | ' | ' | ' | ' |
Redeemable subsidiary preferred stock | ' | ' | 725 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contributions from (distributions to) noncontrolling interests, net | -31 | -39 | -9 | ' | ' | ' | ' | ' | ' | ' | ' | -31 | -39 | -9 | ' |
Other | -121 | -170 | -4 | ' | ' | ' | -124 | ' | ' | ' | ' | 3 | 2 | ' | -172 |
Net income (loss) | 1,486 | 405 | 159 | ' | ' | ' | ' | 1,437 | ' | ' | ' | 49 | 50 | 6 | 355 |
Ending Balance at Mar. 31, 2013 | 48,651 | ' | 854 | 25 | 6 | 0 | 38,957 | 16,730 | -7,517 | -11 | ' | 461 | ' | ' | ' |
Ending balance at Mar. 31, 2013 | ' | 29,235 | ' | ' | ' | ' | ' | ' | ' | ' | -87 | ' | 432 | 128 | 28,890 |
Beginning balance at Dec. 31, 2013 | ' | 29,327 | ' | ' | ' | ' | ' | ' | ' | ' | -16 | ' | 287 | 231 | 29,056 |
Beginning Balance at Dec. 31, 2013 | 51,058 | ' | 957 | 25 | 5 | 0 | 38,890 | 19,235 | -7,517 | 56 | ' | 364 | ' | ' | ' |
Stock compensation plans | 36 | ' | ' | ' | ' | ' | 242 | -206 | ' | ' | ' | ' | ' | ' | ' |
Repurchases and retirements of common stock | -750 | ' | ' | ' | ' | ' | -172 | -578 | ' | ' | ' | ' | ' | ' | ' |
Employee stock purchase plans | 26 | ' | ' | ' | ' | ' | 26 | ' | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income (loss) | -23 | 3 | ' | ' | ' | ' | ' | ' | ' | -23 | 3 | ' | ' | ' | ' |
Dividends declared | -585 | -195 | ' | ' | ' | ' | ' | -585 | ' | ' | ' | ' | ' | ' | -195 |
Issuance of subsidiary shares to noncontrolling interests | ' | ' | 82 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 82 | ' |
Contributions from (distributions to) noncontrolling interests, net | -37 | -44 | -5 | ' | ' | ' | ' | ' | ' | ' | ' | -37 | -44 | -10 | ' |
Other | -7 | ' | -5 | ' | ' | ' | -1 | ' | ' | ' | ' | -6 | 1 | ' | -1 |
Net income (loss) | 1,914 | 727 | 24 | ' | ' | ' | ' | 1,871 | ' | ' | ' | 43 | 45 | 14 | 682 |
Ending Balance at Mar. 31, 2014 | 51,632 | ' | 1,053 | 25 | 5 | 0 | 38,985 | 19,737 | -7,517 | 33 | ' | 364 | ' | ' | ' |
Ending balance at Mar. 31, 2014 | ' | $29,818 | ' | ' | ' | ' | ' | ' | ' | ' | ($13) | ' | $289 | $317 | $29,542 |
Condensed_Consolidated_Financi
Condensed Consolidated Financial Statements | 3 Months Ended |
Mar. 31, 2014 | |
Condensed Consolidated Financial Statements | ' |
Note 1: Condensed Consolidated Financial Statements | |
Basis of Presentation | |
We have prepared these unaudited condensed consolidated financial statements based on Securities and Exchange Commission (“SEC”) rules that permit reduced disclosure for interim periods. These financial statements include all adjustments that are necessary for a fair presentation of our consolidated results of operations, financial condition and cash flows for the periods shown, including normal, recurring accruals and other items. The consolidated results of operations for the interim periods presented are not necessarily indicative of results for the full year. | |
The year-end condensed consolidated balance sheet was derived from audited financial statements but does not include all disclosures required by generally accepted accounting principles in the United States of America (“GAAP”). For a more complete discussion of our accounting policies and certain other information, refer to our consolidated financial statements included in our 2013 Annual Report on Form 10-K. | |
NBCUniversal Media, LLC [Member] | ' |
Condensed Consolidated Financial Statements | ' |
Note 1: Condensed Consolidated Financial Statements | |
Basis of Presentation | |
We have prepared these unaudited condensed consolidated financial statements based on Securities and Exchange Commission (“SEC”) rules that permit reduced disclosure for interim periods. These financial statements include all adjustments that are necessary for a fair presentation of our consolidated results of operations, financial condition and cash flows for the periods shown, including normal, recurring accruals and other items. The consolidated results of operations for the interim periods presented are not necessarily indicative of results for the full year. | |
The year-end condensed consolidated balance sheet was derived from audited financial statements but does not include all disclosures required by generally accepted accounting principles in the United States of America (“GAAP”). For a more complete discussion of our accounting policies and certain other information, refer to our consolidated financial statements included in our 2013 Annual Report on Form 10-K. | |
Earnings_Per_Share
Earnings Per Share | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Earnings Per Share | ' | ||||||||||||
Earnings Per Share | ' | ||||||||||||
Note 2: Earnings Per Share | |||||||||||||
Computation of Diluted EPS | |||||||||||||
Three Months Ended March 31 | |||||||||||||
2014 | 2013 | ||||||||||||
(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 | |||||||
Basic EPS attributable to Comcast Corporation shareholders | $ | 1,871 | 2,603 | $ | 0.72 | $ | 1,437 | 2,634 | $ | 0.55 | |||
Effect of dilutive securities: | |||||||||||||
Assumed exercise or issuance of shares relating to stock | |||||||||||||
plans | 42 | 41 | |||||||||||
Diluted EPS attributable to Comcast Corporation | |||||||||||||
shareholders | $ | 1,871 | 2,645 | $ | 0.71 | $ | 1,437 | 2,675 | $ | 0.54 | |||
Our potentially dilutive securities include potential common shares related to our stock options and our restricted share units (“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. Diluted EPS excludes the impact of potential common shares related to our stock options in periods in which the combination of the option exercise price and the associated unrecognized compensation expense is greater than the average market price of our Class A common stock or our Class A Special common stock, as applicable. | |||||||||||||
Diluted EPS for the three months ended March 31, 2014 and 2013 excludes 2 million of potential common shares related to our share-based compensation plans, because the inclusion of the potential common shares would have had an antidilutive effect. |
Significant_Transactions
Significant Transactions | 3 Months Ended |
Mar. 31, 2014 | |
Significant Transactions | ' |
Note 3: Significant Transactions | |
Time Warner Cable Transaction | |
On February 12, 2014, we entered into an agreement and plan of merger with Time Warner Cable Inc. (“Time Warner Cable”). As a result of this agreement, we will acquire 100% of Time Warner Cable's outstanding shares of common stock in exchange for shares of our Class A common stock. Time Warner Cable stockholders will receive, in exchange for each share of Time Warner Cable common stock owned immediately prior to the transaction, 2.875 shares of our Class A common stock. Time Warner Cable stockholders will then own approximately 23% of our common stock, estimated based on the number of shares outstanding as of the date of the agreement. Because the exchange ratio was fixed at the time of the merger agreement and the market value of our Class A common stock will continue to fluctuate, the number of shares of Class A common stock to be issued and the total value of the consideration exchanged will not be determinable until the closing date. Following the close of the transaction, Time Warner Cable will be our wholly owned subsidiary. The transaction remains subject to shareholder approval at both companies, regulatory review and other customary conditions and is expected to close by the end of 2014. |
Related_Party_Transactions
Related Party Transactions (NBCUniversal Media, LLC [Member]) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
NBCUniversal Media, LLC [Member] | ' | ||||||||
Related Party Transactions | ' | ||||||||
Note 2: Related Party Transactions | |||||||||
In the ordinary course of our business, we enter into transactions with Comcast Corporation (“Comcast”). | |||||||||
We generate revenue from Comcast primarily from the distribution of our cable network programming and, to a lesser extent, the sale of advertising and our owned programming, and we incur expenses primarily related to various support services provided by Comcast to us. | |||||||||
In 2013, as part of the Comcast cash management process, we and Comcast entered into a revolving credit agreement under which we can borrow up to $3 billion from Comcast and Comcast can borrow up to $3 billion from us. Amounts owed by us to Comcast under the revolving credit agreement, including accrued interest, are presented under the caption “note payable to Comcast” in our condensed consolidated balance sheet. The revolving credit agreements bear interest at floating rates equal to the interest rate under the Comcast and Comcast Cable Communications, LLC revolving credit facility (the “Comcast revolving credit facility”). The interest rate on the Comcast revolving credit facility consists of a base rate plus a borrowing margin that is determined based on Comcast's credit rating. As of March 31, 2014, the borrowing margin for London Interbank Offered Rate based borrowings was 1.00%. | |||||||||
In addition, Comcast is the counterparty to one of our contractual obligations. As of March 31, 2014, the carrying value of the liability associated with this contractual obligation was $383 million. | |||||||||
The following tables present transactions with Comcast and its consolidated subsidiaries that are included in our condensed consolidated financial statements. | |||||||||
Condensed Consolidated Balance Sheet | |||||||||
March 31, | December 31, | ||||||||
(in millions) | 2014 | 2013 | |||||||
Transactions with Comcast and consolidated subsidiaries | |||||||||
Receivables, net | $ | 234 | $ | 228 | |||||
Accounts payable and accrued expenses related to trade creditors | $ | 43 | $ | 56 | |||||
Accrued expenses and other current liabilities | $ | 9 | $ | 37 | |||||
Note payable to Comcast | $ | 938 | $ | 799 | |||||
Other noncurrent liabilities | $ | 383 | $ | 383 | |||||
Condensed Consolidated Statement of Income | |||||||||
Three Months Ended March 31 | |||||||||
(in millions) | 2014 | 2013 | |||||||
Transactions with Comcast and consolidated subsidiaries | |||||||||
Revenue | $ | 361 | $ | 352 | |||||
Operating costs and expenses | $ | -37 | $ | -62 | |||||
Other income (expense) | $ | -9 | $ | - | |||||
Distributions to NBCUniversal Holdings | |||||||||
In addition to the transactions above, we make distributions to NBCUniversal Holdings on a periodic basis to enable its owners to meet their obligations to pay taxes on taxable income generated by our businesses. We also make quarterly distributions to NBCUniversal Holdings to enable it to make its required quarterly payments to NBCUniversal Enterprise, Inc. at an initial annual rate of 8.25% on the $9.4 billion aggregate liquidation preference of preferred units. These distributions are presented under the caption “distributions to member” in our condensed consolidated statement of cash flows. |
Film_and_Television_Costs
Film and Television Costs | 3 Months Ended | |||||
Mar. 31, 2014 | ||||||
Film And Television Costs Disclosure [Text Block] | ' | |||||
Note 4: Film and Television Costs | ||||||
March 31, | December 31, | |||||
(in millions) | 2014 | 2013 | ||||
Film Costs: | ||||||
Released, less amortization | $ | 1,480 | $ | 1,630 | ||
Completed, not released | 40 | 70 | ||||
In production and in development | 865 | 658 | ||||
2,385 | 2,358 | |||||
Television Costs: | ||||||
Released, less amortization | 1,169 | 1,155 | ||||
In production and in development | 363 | 370 | ||||
1,532 | 1,525 | |||||
Programming rights, less amortization | 2,004 | 2,039 | ||||
5,921 | 5,922 | |||||
Less: Current portion of programming rights | 863 | 928 | ||||
Film and television costs | $ | 5,058 | $ | 4,994 | ||
NBCUniversal Media, LLC [Member] | ' | |||||
Film And Television Costs Disclosure [Text Block] | ' | |||||
Note 3: Film and Television Costs | ||||||
March 31, | December 31, | |||||
(in millions) | 2014 | 2013 | ||||
Film Costs: | ||||||
Released, less amortization | $ | 1,480 | $ | 1,630 | ||
Completed, not released | 40 | 70 | ||||
In production and in development | 865 | 658 | ||||
2,385 | 2,358 | |||||
Television Costs: | ||||||
Released, less amortization | 1,169 | 1,155 | ||||
In production and in development | 363 | 370 | ||||
1,532 | 1,525 | |||||
Programming rights, less amortization | 1,974 | 2,003 | ||||
5,891 | 5,886 | |||||
Less: Current portion of programming rights | 843 | 903 | ||||
Film and television costs | $ | 5,048 | $ | 4,983 | ||
Investments
Investments | 3 Months Ended | |||||
Mar. 31, 2014 | ||||||
Investments | ' | |||||
Note 5: Investments | ||||||
March 31, | December 31, | |||||
(in millions) | 2014 | 2013 | ||||
Fair Value Method | $ | 2,448 | $ | 4,345 | ||
Equity Method: | ||||||
The Weather Channel | 331 | 333 | ||||
Hulu | 191 | 187 | ||||
Other | 496 | 469 | ||||
1,018 | 989 | |||||
Cost Method: | ||||||
AirTouch | 1,556 | 1,553 | ||||
Other | 457 | 456 | ||||
2,013 | 2,009 | |||||
Total investments | 5,479 | 7,343 | ||||
Less: Current investments | 2,389 | 3,573 | ||||
Noncurrent investments | $ | 3,090 | $ | 3,770 | ||
Investment Income (Loss), Net | ||||||
Three Months Ended | ||||||
31-Mar | ||||||
(in millions) | 2014 | 2013 | ||||
Gains on sales and exchanges of investments, net | $ | 83 | $ | 35 | ||
Investment impairment losses | -5 | -9 | ||||
Unrealized gains (losses) on securities underlying prepaid forward sale agreements | -113 | 605 | ||||
Mark to market adjustments on derivative component of prepaid forward sale | ||||||
agreements and indexed debt instruments | 117 | -602 | ||||
Interest and dividend income | 28 | 30 | ||||
Other, net | 3 | 13 | ||||
Investment income (loss), net | $ | 113 | $ | 72 | ||
Fair Value Method | ||||||
As of March 31, 2014, the majority of our fair value method investments were equity securities held as collateral that were related to our obligations under prepaid forward sale agreements. | ||||||
Prepaid Forward Sale Agreements | ||||||
March 31, | December 31, | |||||
(in millions) | 2014 | 2013 | ||||
Assets: | ||||||
Fair value equity securities held as collateral | $ | 2,164 | $ | 3,959 | ||
Liabilities: | ||||||
Obligations under prepaid forward sale agreements | $ | 463 | $ | 811 | ||
Derivative component of prepaid forward sale agreements | 1,501 | 2,800 | ||||
Total liabilities | $ | 1,964 | $ | 3,611 | ||
During the three months ended March 31, 2014, we settled $1.5 billion of obligations under certain of our prepaid forward sale agreements by delivering equity securities. As of March 31, 2014, our remaining prepaid forward sale obligations had an estimated fair value of $2 billion. The estimated fair values are based on Level 2 inputs using pricing models whose inputs are derived primarily from or corroborated by observable market data through correlation or other means for substantially the full term of the financial instrument. | ||||||
Cost Method | ||||||
AirTouch | ||||||
We hold two series of preferred stock of AirTouch Communications, Inc. (“AirTouch”), a subsidiary of Verizon Communications Inc., which are redeemable in April 2020. As of March 31, 2014, the estimated fair values of the AirTouch preferred stock and the associated liability related to the redeemable preferred shares issued by one of our consolidated subsidiaries were each $1.7 billion. The estimated fair values are based on Level 2 inputs using pricing models whose inputs are derived primarily from or corroborated by observable market data through correlation or other means for substantially the full term of the financial instrument. | ||||||
NBCUniversal Media, LLC [Member] | ' | |||||
Investments | ' | |||||
Note 4: Investments | ||||||
March 31, | December 31, | |||||
(in millions) | 2014 | 2013 | ||||
Fair Value Method | $ | 11 | $ | 11 | ||
Equity Method: | ||||||
The Weather Channel | 331 | 333 | ||||
Hulu | 191 | 187 | ||||
Other | 343 | 332 | ||||
865 | 852 | |||||
Cost Method | 22 | 21 | ||||
Total investments | $ | 898 | $ | 884 | ||
LongTerm_Debt
Long-Term Debt | 3 Months Ended |
Mar. 31, 2014 | |
Long-Term Debt | ' |
Note 6: Long-Term Debt | |
As of March 31, 2014, our debt had a carrying value of $47.4 billion and an estimated fair value of $52.5 billion. The estimated fair value of our publicly traded debt is based on quoted market values for the debt. To estimate the fair value of debt for which there are no quoted market prices, we use interest rates available to us for debt with similar terms and remaining maturities. | |
Debt Borrowings and Repayments | |
In February 2014, we issued $1.2 billion aggregate principal amount of 3.60% senior notes due 2024 and $1 billion aggregate principal amount of 4.75% senior notes due 2044. The proceeds from this offering were used for working capital and general corporate purposes, including the repayment of a portion of our outstanding commercial paper and our $900 million aggregate principal amount of 2.10% senior notes in April 2014 at maturity. | |
In January 2014, we repaid at maturity $1 billion aggregate principal amount of 5.30% senior notes due 2014. In February 2014, we repaid $1.25 billion of borrowings outstanding under NBCUniversal Enterprise Inc.'s (“NBCUniversal Enterprise”) revolving credit facility with the proceeds from $990 million of borrowings under its new commercial paper program and cash on hand. | |
Revolving Credit Facilities | |
As of March 31, 2014, amounts available under our consolidated revolving credit facilities, net of amounts outstanding under our commercial paper program and outstanding letters of credit, totaled $6.3 billion, which included $360 million available under NBCUniversal Enterprise's credit facility. | |
Commercial Paper Program | |
In February 2014, NBCUniversal Enterprise entered into a commercial paper program. The maximum borrowing capacity under this commercial paper program is $1.35 billion, and it is supported by NBCUniversal Enterprise's existing $1.35 billion revolving credit facility due March 2018. The commercial paper program is fully and unconditionally guaranteed by us and our 100% owned cable holding company subsidiaries, Comcast Cable Communications, LLC (“CCCL Parent”), Comcast MO Group, Inc. (“Comcast MO Group”), Comcast Cable Holdings, LLC (“CCH”) and Comcast MO of Delaware, LLC (“Comcast MO of Delaware”) (collectively, the “cable guarantors”). As of March 31, 2014, NBCUniversal Enterprise had $990 million face amount of commercial paper outstanding. | |
NBCUniversal Media, LLC [Member] | ' |
Long-Term Debt | ' |
Note 5: Long-Term Debt | |
Senior Notes and Other Debt | |
As of March 31, 2014, our debt had a carrying value of $11.2 billion and an estimated fair value of $12.1 billion. The estimated fair value of our publicly traded debt is based on quoted market values for the debt. To estimate the fair value of debt for which there are no quoted market prices, we use interest rates available to us for debt with similar terms and remaining maturities. | |
Cross-Guarantee Structure | |
In 2013, we, Comcast and certain of Comcast's 100% owned cable holding company subsidiaries (the “cable guarantors”) entered into a series of agreements and supplemental indentures to include us as a part of Comcast's existing cross-guarantee structure. As members of the cross-guarantee structure, Comcast and the cable guarantors fully and unconditionally guarantee our public debt securities, and we fully and unconditionally guarantee all of Comcast's and the cable guarantors' public debt securities. As of March 31, 2014, we guaranteed $30.7 billion of outstanding debt securities of Comcast and the cable guarantors. We also fully and unconditionally guarantee the $6.25 billion Comcast revolving credit facility due 2017 of which no amounts were outstanding as of March 31, 2014. | |
We do not, however, guarantee the obligations of NBCUniversal Enterprise with respect to its $4 billion aggregate principal amount of senior notes, $1.35 billion credit facility and associated commercial paper program, or $725 million liquidation preference of Series A cumulative preferred stock. |
Fair_Value_Measurements
Fair Value Measurements | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Fair Value Measurements | ' | ||||||||||||
Note 7: Fair Value Measurements | |||||||||||||
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). Level 1 consists of financial instruments whose values are 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 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 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 | |||||||||||||
31-Mar-14 | 31-Dec-13 | ||||||||||||
(in millions) | Level 1 | Level 2 | Level 3 | Total | Total | ||||||||
Assets | |||||||||||||
Trading securities | $ | 2,168 | $ | - | $ | - | $ | 2,168 | $ | 3,956 | |||
Available-for-sale securities | 151 | 117 | 11 | 279 | 389 | ||||||||
Interest rate swap agreements | - | 101 | - | 101 | 110 | ||||||||
Other | - | 74 | 1 | 75 | 81 | ||||||||
Total | $ | 2,319 | $ | 292 | $ | 12 | $ | 2,623 | $ | 4,536 | |||
Liabilities | |||||||||||||
Derivative component of prepaid forward sale agreements | |||||||||||||
and indexed debt instruments | $ | - | $ | 1,515 | $ | - | $ | 1,515 | $ | 2,816 | |||
Contractual obligation | - | - | 761 | 761 | 747 | ||||||||
Contingent consideration | - | - | 677 | 677 | 684 | ||||||||
Other | - | 17 | - | 17 | 16 | ||||||||
Total | $ | - | $ | 1,532 | $ | 1,438 | $ | 2,970 | $ | 4,263 | |||
Fair Value of Redeemable Subsidiary Preferred Stock Financial Instrument | |||||||||||||
As of March 31, 2014, the fair value of the NBCUniversal Enterprise redeemable subsidiary preferred stock was $750 million. The estimated fair value is based on Level 2 inputs using pricing models whose inputs are derived primarily from or corroborated by observable market data through correlation or other means for substantially the full term of the financial instrument. | |||||||||||||
Contractual Obligation and Contingent Consideration | |||||||||||||
The fair values of the contractual obligation and contingent consideration in the table above are primarily based on certain expected future discounted cash flows, the determination of which involves the use of significant unobservable inputs. The most significant unobservable inputs we use are our estimates of the future revenue we expect to generate from certain NBCUniversal businesses, which are related to our contractual obligation, and future net tax benefits that will affect payments to GE, which are related to contingent consideration. The discount rates used in the measurements of fair value were between 5% and 13% and are based on the underlying risk associated with our estimate of future revenue and the terms of the respective contracts, and the uncertainty in the timing of our payments to GE. The fair value adjustments to contractual obligation and contingent consideration are sensitive to the assumptions related to future revenue and tax benefits, respectively, as well as to current interest rates, and therefore, the adjustments are recorded to other income (expense), net in our condensed consolidated statement of income. | |||||||||||||
Changes in Contractual Obligation and Contingent Consideration | |||||||||||||
(in millions) | Contractual Obligation | Contingent Consideration | |||||||||||
Balance, December 31, 2013 | $ | 747 | $ | 684 | |||||||||
Fair value adjustments | 27 | 7 | |||||||||||
Payments | -13 | -14 | |||||||||||
Balance, March 31, 2014 | $ | 761 | $ | 677 | |||||||||
NBCUniversal Media, LLC [Member] | ' | ||||||||||||
Fair Value Measurements | ' | ||||||||||||
Note 6: Fair Value Measurements | |||||||||||||
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). 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. | |||||||||||||
Our financial instruments that are accounted for at fair value on a recurring basis were not material for all periods presented, except for the liability associated with our contractual obligation. The fair value of the contractual obligation is primarily based on certain expected future discounted cash flows, the determination of which involves the use of significant unobservable inputs. As the inputs used are not quoted market prices or observable inputs, we classify the contractual obligation as a Level 3 financial instrument. | |||||||||||||
The most significant unobservable inputs we use are our estimates of the future revenue we expect to generate from certain of our businesses. The discount rates used in the measurement of fair value were between 12% and 13% and are based on the underlying risk associated with our estimate of future revenue and the terms of the respective contract. The fair value adjustments to the contractual obligation is sensitive to the assumptions related to future revenue, as well as to current interest rates, and therefore, the adjustments are recorded to other income (expense), net in our condensed consolidated statement of income. | |||||||||||||
Changes in Contractual Obligation | |||||||||||||
(in millions) | Contractual Obligation | ||||||||||||
Balance, December 31, 2013 | $ | 747 | |||||||||||
Fair value adjustments | 27 | ||||||||||||
Payments | -13 | ||||||||||||
Balance, March 31, 2014 | $ | 761 | |||||||||||
ShareBased_Compensation
Share-Based Compensation | 3 Months Ended | ||||
Mar. 31, 2014 | |||||
Share-Based Compensation | ' | ||||
Note 8: Share-Based Compensation | |||||
Our share-based compensation primarily consists of awards of stock options and RSUs to certain employees and directors as part of our approach to long-term incentive compensation. Additionally, through our employee stock purchase plans, employees are able to purchase shares of Comcast Class A common stock at a discount through payroll deductions. | |||||
In March 2014, we granted 16.4 million stock options and 5.4 million RSUs related to our annual management awards. The weighted-average fair values associated with these grants were $11.09 per stock option and $46.57 per RSU. | |||||
Recognized Share-Based Compensation Expense | |||||
Three Months Ended | |||||
31-Mar | |||||
(in millions) | 2014 | 2013 | |||
Stock options | $ | 36 | $ | 32 | |
Restricted share units | 48 | 38 | |||
Employee stock purchase plans | 6 | 6 | |||
Total | $ | 90 | $ | 76 | |
As of March 31, 2014, we had unrecognized pretax compensation expense of $428 million and $575 million related to nonvested stock options and nonvested RSUs, respectively. | |||||
NBCUniversal Media, LLC [Member] | ' | ||||
Share-Based Compensation | ' | ||||
Note 7: Share-Based Compensation | |||||
Comcast maintains share-based compensation plans that primarily consist of awards of stock options and restricted share units (“RSUs”) to certain employees and directors as part of its approach to long-term incentive compensation. Additionally, through Comcast's employee stock purchase plans, employees are able to purchase shares of its Class A common stock at a discount through payroll deductions. Certain of our employees participate in these plans and the expense associated with their participation is settled in cash with Comcast. | |||||
Recognized Share-Based Compensation Expense | |||||
Three Months Ended | |||||
31-Mar | |||||
(in millions) | 2014 | 2013 | |||
Stock options | $ | 3 | $ | 3 | |
Restricted share units | 13 | 7 | |||
Employee stock purchase plans | 2 | 2 | |||
Total | $ | 18 | $ | 12 |
Supplemental_Financial_Informa
Supplemental Financial Information | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Supplemental Financial Information | ' | |||||||
Note 9: Supplemental Financial Information | ||||||||
Receivables | ||||||||
March 31, | December 31, | |||||||
(in millions) | 2014 | 2013 | ||||||
Receivables, gross | $ | 6,645 | $ | 6,972 | ||||
Less: Allowance for returns and customer incentives | 285 | 375 | ||||||
Less: Allowance for doubtful accounts | 209 | 221 | ||||||
Receivables, net | $ | 6,151 | $ | 6,376 | ||||
Accumulated Other Comprehensive Income (Loss) | ||||||||
March 31, | March 31, | |||||||
(in millions) | 2014 | 2013 | ||||||
Unrealized gains (losses) on marketable securities | $ | 47 | $ | 180 | ||||
Deferred gains (losses) on cash flow hedges | -50 | -57 | ||||||
Unrecognized gains (losses) on employee benefit obligations | 71 | -109 | ||||||
Cumulative translation adjustments | -35 | -25 | ||||||
Accumulated other comprehensive income (loss), net of deferred taxes | $ | 33 | $ | -11 | ||||
Net Cash Provided by Operating Activities | ||||||||
Three Months Ended | ||||||||
31-Mar | ||||||||
(in millions) | 2014 | 2013 | ||||||
Net income | $ | 1,938 | $ | 1,645 | ||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
Depreciation and amortization | 1,970 | 1,967 | ||||||
Amortization of film and television costs | 2,876 | 1,972 | ||||||
Share-based compensation | 119 | 102 | ||||||
Noncash interest expense (income), net | 42 | 42 | ||||||
Equity in net (income) losses of investees, net | -32 | -11 | ||||||
Cash received from investees | 18 | 23 | ||||||
Net (gain) loss on investment activity and other | -59 | -132 | ||||||
Deferred income taxes | -226 | -373 | ||||||
Changes in operating assets and liabilities, net of effects of acquisitions and divestitures: | ||||||||
Change in current and noncurrent receivables, net | 195 | 465 | ||||||
Change in film and television costs | -2,722 | -1,577 | ||||||
Change in accounts payable and accrued expenses related to trade creditors | 82 | -281 | ||||||
Change in other operating assets and liabilities | 285 | 527 | ||||||
Net cash provided by operating activities | $ | 4,486 | $ | 4,369 | ||||
Cash Payments for Interest and Income Taxes | ||||||||
Three Months Ended | ||||||||
31-Mar | ||||||||
(in millions) | 2014 | 2013 | ||||||
Interest | $ | 623 | $ | 617 | ||||
Income taxes | $ | 186 | $ | 461 | ||||
Noncash Investing and Financing Activities | ||||||||
During the three months ended March 31, 2014: | ||||||||
• we acquired $741 million of property and equipment and intangible assets that were accrued but unpaid | ||||||||
• we recorded a liability of $585 million for a quarterly cash dividend of $0.225 per common share paid in April 2014 | ||||||||
• we used $1.5 billion of equity securities to settle our obligations under prepaid forward sale agreements | ||||||||
NBCUniversal Media, LLC [Member] | ' | |||||||
Supplemental Financial Information | ' | |||||||
Note 8: Supplemental Financial Information | ||||||||
Receivables | ||||||||
March 31, | December 31, | |||||||
(in millions) | 2014 | 2013 | ||||||
Receivables, gross | $ | 5,172 | $ | 5,348 | ||||
Less: Allowance for returns and customer incentives | 282 | 372 | ||||||
Less: Allowance for doubtful accounts | 64 | 65 | ||||||
Receivables, net | $ | 4,826 | $ | 4,911 | ||||
Accumulated Other Comprehensive Income (Loss) | ||||||||
March 31, | March 31, | |||||||
(in millions) | 2014 | 2013 | ||||||
Deferred gains (losses) on cash flow hedges | $ | -6 | $ | - | ||||
Unrecognized gains (losses) on employee benefit obligations | 46 | -50 | ||||||
Cumulative translation adjustments | -53 | -37 | ||||||
Accumulated other comprehensive income (loss), net of deferred taxes | $ | -13 | $ | -87 | ||||
Net Cash Provided by Operating Activities | ||||||||
Three Months Ended | ||||||||
31-Mar | ||||||||
(in millions) | 2014 | 2013 | ||||||
Net income | $ | 741 | $ | 411 | ||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
Depreciation and amortization | 365 | 344 | ||||||
Amortization of film and television costs | 2,862 | 1,956 | ||||||
Share-based compensation | - | 7 | ||||||
Equity in net (income) losses of investees, net | -18 | -11 | ||||||
Cash received from investees | 12 | 15 | ||||||
Net (gain) loss on investment activity and other | 21 | 32 | ||||||
Deferred income taxes | 16 | -17 | ||||||
Changes in operating assets and liabilities, net of effects of acquisitions and divestitures: | ||||||||
Change in current and noncurrent receivables, net | 55 | 204 | ||||||
Change in film and television costs | -2,714 | -1,567 | ||||||
Change in accounts payable and accrued expenses related to trade creditors | -117 | -283 | ||||||
Change in other operating assets and liabilities | -467 | 14 | ||||||
Net cash provided by operating activities | $ | 756 | $ | 1,105 | ||||
Cash Payments for Interest and Income Taxes | ||||||||
Three Months Ended | ||||||||
31-Mar | ||||||||
(in millions) | 2014 | 2013 | ||||||
Interest | $ | 36 | $ | 20 | ||||
Income taxes | $ | 53 | $ | 55 | ||||
Noncash Investing and Financing Activities | ||||||||
During the three months ended March 31, 2014: | ||||||||
• we acquired $204 million of property and equipment and intangible assets that were accrued but unpaid | ||||||||
Commitments_and_Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2014 | |
Commitments and Contingencies | ' |
Note 10: Commitments and Contingencies | |
Contingencies | |
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 customer base in the “Boston Cluster” area, and the potential class in the Pennsylvania case is our customer base in the “Philadelphia and Chicago Clusters,” as those terms are defined in the complaints. In each case, the plaintiffs allege that certain customer exchange transactions with other cable providers resulted in unlawful horizontal market restraints in those areas and seek damages under antitrust statutes, including treble damages. | |
Classes of Chicago Cluster and Philadelphia Cluster customers were certified in October 2007 and January 2010, respectively. We appealed the class certification in the Philadelphia Cluster case to the Third Circuit Court of Appeals, which affirmed the class certification in August 2011. In June 2012, the U.S. Supreme Court granted our petition to review the Third Circuit Court of Appeals' ruling and in March 2013, the Supreme Court ruled that the class had been improperly certified and reversed the judgment of the Third Circuit. The matter has been returned to the District Court for action consistent with the Supreme Court's opinion. In August 2013, the plaintiffs in the Philadelphia Cluster case moved to certify a new, smaller class. The District Court denied our September 2013 motion to strike the plaintiffs' motion on procedural grounds. In April 2014, the District Court granted our unopposed motion to de-certify the Chicago class and the plaintiffs' unopposed motion to amend the Pennsylvania case so as to dismiss claims relating to the Chicago cluster. | |
In addition, we are the defendant in 22 purported class actions filed in federal district courts throughout the country. All of these actions have been consolidated by the Judicial Panel on Multidistrict Litigation in the United States District Court for the Eastern District of Pennsylvania for pre-trial proceedings. In a consolidated complaint filed in November 2009 on behalf of all plaintiffs in the multidistrict litigation, the plaintiffs allege that we improperly “tie” the rental of set-top boxes to the provision of premium cable services in violation of Section 1 of the Sherman Antitrust Act, various state antitrust laws and unfair/deceptive trade practices acts in California, Illinois and Alabama. The plaintiffs also allege a claim for unjust enrichment and seek relief on behalf of a nationwide class of our premium cable customers and on behalf of subclasses consisting of premium cable customers from California, Alabama, Illinois, Pennsylvania and Washington. In January 2010, we moved to compel arbitration of the plaintiffs' claims for unjust enrichment and violations of the unfair/deceptive trade practices acts of Illinois and Alabama. In September 2010, the plaintiffs filed an amended complaint alleging violations of additional state antitrust laws and unfair/deceptive trade practices acts on behalf of new subclasses in Connecticut, Florida, Minnesota, Missouri, New Jersey, New Mexico and West Virginia. In the amended complaint, plaintiffs omitted their unjust enrichment claim, as well as their state law claims on behalf of the Alabama, Illinois and Pennsylvania subclasses. In June 2011, the plaintiffs filed another amended complaint alleging only violations of Section 1 of the Sherman Antitrust Act, antitrust law in Washington and unfair/deceptive trade practices acts in California and Washington. The plaintiffs seek relief on behalf of a nationwide class of our premium cable customers and on behalf of subclasses consisting of premium cable customers from California and Washington. In July 2011, we moved to compel arbitration of most of the plaintiffs' claims and to stay the remaining claims pending arbitration. The West Virginia Attorney General also filed a complaint in West Virginia state court in July 2009 alleging that we improperly “tie” the rental of set-top boxes to the provision of digital cable services in violation of the West Virginia Antitrust Act and the West Virginia Consumer Credit and Protection Act. The Attorney General also alleges a claim for unjust enrichment/restitution. We removed the case to the United States District Court for West Virginia, and it was subsequently transferred to the United States District Court for the Eastern District of Pennsylvania and consolidated with the multidistrict litigation described above. In June 2013, a comprehensive settlement agreement for all 23 cases was submitted to the District Court for preliminary approval. Regardless of whether this settlement agreement is approved, we do not expect these cases to have a material effect on our results of operations, cash flows or financial position. | |
We believe the claims in each of the pending actions described above in this item are without merit, except as otherwise set forth above, and intend to defend the actions vigorously. We cannot predict the outcome of any of the actions described above, including a range of possible loss, or how the final resolution of any such actions would impact our results of operations or cash flows for any one period or our financial position. In addition, as any action nears a trial, there is an increased possibility that the action may be settled by the parties. Nevertheless, the final disposition of any of the above actions is not expected to have a material adverse effect on our consolidated financial position, but could possibly be material to our consolidated results of operations or cash flows for any one period. | |
Other | |
We are a defendant in several unrelated lawsuits claiming infringement of various patents relating to various aspects of our businesses. In certain of these cases other industry participants are also defendants, and also in certain of these cases we expect that any potential liability would be in part or in whole the responsibility of our equipment and technology vendors under applicable contractual indemnification provisions. We are also subject to other legal proceedings and claims that arise in the ordinary course of our business. While the amount of ultimate liability with respect to such actions is not expected to materially affect our results of operations, cash flows or financial position, any litigation resulting from any such legal proceedings or claims could be time consuming, costly and injure our reputation. |
Financial_Data_by_Business_Seg
Financial Data by Business Segment | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Financial Data by Business Segment | ' | |||||||||||
Note 11: Financial Data by Business Segment | ||||||||||||
We present our operations in five reportable business segments: | ||||||||||||
• Cable Communications: Consists of the operations of Comcast Cable, which is the nation's largest provider of video, high-speed Internet and voice services (“cable services”) to residential customers under the XFINITY brand, and we also provide similar services to businesses and sell advertising. | ||||||||||||
• Cable Networks: Consists primarily of our national cable networks, our regional sports networks, our international cable networks and our cable television production operations. | ||||||||||||
• Broadcast Television: Consists primarily of the NBC and Telemundo broadcast networks, our NBC and Telemundo owned local broadcast television stations, and our broadcast television production operations. | ||||||||||||
• Filmed Entertainment: Consists primarily of the studio operations of Universal Pictures, which produces, acquires, markets and distributes filmed entertainment worldwide. | ||||||||||||
• Theme Parks: Consists primarily of our Universal theme parks in Orlando and Hollywood. | ||||||||||||
In evaluating the profitability of our operating segments, the components of net income (loss) below operating income (loss) before depreciation and amortization are not separately evaluated by our management. Our financial data by business segment is presented in the tables below. | ||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||
(in millions) | Revenue(e) | Operating Income (Loss) Before Depreciation and Amortization(f) | Depreciation and Amortization | Operating Income (Loss) | Capital Expenditures | |||||||
Cable Communications(a) | $ | 10,757 | $ | 4,400 | $ | 1,584 | $ | 2,816 | $ | 1,145 | ||
NBCUniversal | ||||||||||||
Cable Networks(b) | 2,505 | 895 | 189 | 706 | 11 | |||||||
Broadcast Television | 2,621 | 122 | 27 | 95 | 11 | |||||||
Filmed Entertainment(b) | 1,351 | 288 | 5 | 283 | 1 | |||||||
Theme Parks | 487 | 170 | 69 | 101 | 144 | |||||||
Headquarters and Other(c) | 2 | -163 | 75 | -238 | 124 | |||||||
Eliminations(d) | -90 | -1 | - | -1 | - | |||||||
NBCUniversal | 6,876 | 1,311 | 365 | 946 | 291 | |||||||
Corporate and Other | 174 | -153 | 21 | -174 | 12 | |||||||
Eliminations(d) | -399 | -20 | - | -20 | - | |||||||
Comcast Consolidated | $ | 17,408 | $ | 5,538 | $ | 1,970 | $ | 3,568 | $ | 1,448 | ||
Three Months Ended March 31, 2013 | ||||||||||||
(in millions) | Revenue(e) | Operating Income (Loss) Before Depreciation and Amortization(f) | Depreciation and Amortization | Operating Income (Loss) | Capital Expenditures | |||||||
Cable Communications(a) | $ | 10,217 | $ | 4,219 | $ | 1,608 | $ | 2,611 | $ | 1,094 | ||
NBCUniversal | ||||||||||||
Cable Networks(b) | 2,225 | 859 | 184 | 675 | 24 | |||||||
Broadcast Television | 1,517 | -35 | 25 | -60 | 8 | |||||||
Filmed Entertainment(b) | 1,216 | 69 | 4 | 65 | 2 | |||||||
Theme Parks | 462 | 173 | 72 | 101 | 138 | |||||||
Headquarters and Other(c) | 9 | -112 | 59 | -171 | 91 | |||||||
Eliminations(d) | -89 | -1 | - | -1 | - | |||||||
NBCUniversal | 5,340 | 953 | 344 | 609 | 263 | |||||||
Corporate and Other | 162 | -83 | 15 | -98 | 4 | |||||||
Eliminations(d) | -409 | -55 | - | -55 | - | |||||||
Comcast Consolidated | $ | 15,310 | $ | 5,034 | $ | 1,967 | $ | 3,067 | $ | 1,361 | ||
(a) For the three months ended March 31, 2014 and 2013, Cable Communications segment revenue was derived from the following sources: | ||||||||||||
Three Months Ended | ||||||||||||
31-Mar | ||||||||||||
2014 | 2013 | |||||||||||
Residential: | ||||||||||||
Video | 48.1 | % | 50 | % | ||||||||
High-speed Internet | 25.6 | % | 24.7 | % | ||||||||
Voice | 8.5 | % | 8.8 | % | ||||||||
Business services | 8.5 | % | 7.2 | % | ||||||||
Advertising | 4.8 | % | 4.8 | % | ||||||||
Other | 4.5 | % | 4.5 | % | ||||||||
Total | 100 | % | 100 | % | ||||||||
Subscription revenue received from customers who purchase bundled services at a discounted rate is allocated proportionally to each service based on the individual service's price on a stand-alone basis. | ||||||||||||
For the three months ended March 31, 2014 and 2013, 2.8% and 2.9%, respectively, of Cable Communications revenue was derived from franchise and other regulatory fees. | ||||||||||||
Beginning in 2014, Fandango, our movie ticketing and entertainment business that was previously presented in our Cable Networks segment, is now presented in the Filmed Entertainment segment to reflect the change in our management reporting presentation. Due to immateriality, prior period amounts have not been adjusted. The change in presentation resulted in the reclassification of $195 million of goodwill from our Cable Networks segment to our Filmed Entertainment segment. | ||||||||||||
NBCUniversal Headquarters and Other activities includes costs associated with overhead, allocations, personnel costs and headquarter initiatives. | ||||||||||||
Included in Eliminations are transactions that our segments enter into with one another. The most common types of transactions are the following: | ||||||||||||
• our Cable Networks and Broadcast Television segments generate revenue by selling programming to our Cable Communications segment, which represents a substantial majority of the revenue elimination amount | ||||||||||||
• our Cable Communications segment generates revenue by selling advertising and by selling the use of satellite feeds to our Cable Networks segment | ||||||||||||
• our Filmed Entertainment and Broadcast Television segments generate revenue by licensing content to our Cable Networks segment | ||||||||||||
• our Cable Communications segment receives incentives offered by our Cable Networks segment in connection with its distribution of the Cable Networks' content that are recorded as a reduction to programming expenses | ||||||||||||
No single customer accounted for a significant amount of revenue in any period. | ||||||||||||
We use operating income (loss) before depreciation and amortization, excluding impairment charges related to fixed and intangible assets and gains or losses on the sale of assets, if any, as the measure of profit or loss for our operating segments. This measure eliminates the significant level of noncash depreciation and amortization expense that results from the capital-intensive nature of certain of our businesses and from intangible assets recognized in business combinations. Additionally, it is unaffected by our capital structure or investment activities. We use this measure to evaluate our consolidated operating performance and the operating performance of our operating segments and to allocate resources and capital to our operating segments. It is also a significant performance measure in our annual incentive compensation programs. We believe that this measure is useful to investors because it is one of the bases for comparing our operating performance with that of other companies in our industries, although our measure may not be directly comparable to similar measures used by other companies. This measure should not be considered a substitute for operating income (loss), net income (loss) attributable to Comcast Corporation, net cash provided by operating activities, or other measures of performance or liquidity we have reported in accordance with GAAP. | ||||||||||||
NBCUniversal Media, LLC [Member] | ' | |||||||||||
Financial Data by Business Segment | ' | |||||||||||
Note 9: Financial Data by Business Segment | ||||||||||||
We present our operations in four reportable business segments: | ||||||||||||
• Cable Networks: Consists primarily of our national cable networks, our regional sports networks, our international cable networks and our cable television production operations. | ||||||||||||
• Broadcast Television: Consists primarily of the NBC and Telemundo broadcast networks, our NBC and Telemundo owned local broadcast television stations, and our broadcast television production operations. | ||||||||||||
• Filmed Entertainment: Consists primarily of the studio operations of Universal Pictures, which produces, acquires, markets and distributes filmed entertainment worldwide. | ||||||||||||
• Theme Parks: Consists primarily of our Universal theme parks in Orlando and Hollywood. | ||||||||||||
In evaluating the profitability of our operating segments, the components of net income (loss) below operating income (loss) before depreciation and amortization are not separately evaluated by our management. Our financial data by business segment is presented in the tables below. | ||||||||||||
Three Months Ended March 31, 2014 | ||||||||||||
(in millions) | Revenue(d) | Operating Income (Loss) Before Depreciation and Amortization(e) | Depreciation and Amortization | Operating Income (Loss) | Capital Expenditures | |||||||
Cable Networks(a) | $ | 2,505 | $ | 895 | $ | 189 | $ | 706 | $ | 11 | ||
Broadcast Television | 2,621 | 122 | 27 | 95 | 11 | |||||||
Filmed Entertainment(a) | 1,351 | 288 | 5 | 283 | 1 | |||||||
Theme Parks | 487 | 170 | 69 | 101 | 144 | |||||||
Headquarters and Other(b) | 2 | -163 | 75 | -238 | 124 | |||||||
Eliminations(c) | -90 | -1 | - | -1 | - | |||||||
Total | $ | 6,876 | $ | 1,311 | $ | 365 | $ | 946 | $ | 291 | ||
Three Months Ended March 31, 2013 | ||||||||||||
(in millions) | Revenue(d) | Operating Income (Loss) Before Depreciation and Amortization(e) | Depreciation and Amortization | Operating Income (Loss) | Capital Expenditures | |||||||
Cable Networks(a) | $ | 2,225 | $ | 859 | $ | 184 | $ | 675 | $ | 24 | ||
Broadcast Television | 1,517 | -35 | 25 | -60 | 8 | |||||||
Filmed Entertainment(a) | 1,216 | 69 | 4 | 65 | 2 | |||||||
Theme Parks | 462 | 173 | 72 | 101 | 138 | |||||||
Headquarters and Other(b) | 9 | -112 | 59 | -171 | 91 | |||||||
Eliminations(c) | -89 | -1 | - | -1 | - | |||||||
Total | $ | 5,340 | $ | 953 | $ | 344 | $ | 609 | $ | 263 | ||
Beginning in 2014, Fandango, our movie ticketing and entertainment business that was previously presented in our Cable Networks segment, is now presented in the Filmed Entertainment segment to reflect the change in our current management reporting presentation. Due to immateriality, prior period amounts have not been adjusted. The change in presentation resulted in the reclassification of $195 million of goodwill from our Cable Networks segment to our Filmed Entertainment segment. | ||||||||||||
Headquarters and Other activities include costs associated with overhead, personnel costs and headquarter initiatives. | ||||||||||||
Included in Eliminations are transactions that our segments enter into with one another, which consist primarily of the licensing of film and television content from our Filmed Entertainment and Broadcast Television segments to our Cable Networks segment. | ||||||||||||
No single customer accounted for a significant amount of revenue in any period. | ||||||||||||
We use operating income (loss) before depreciation and amortization, excluding impairment charges related to fixed and intangible assets and gains or losses on the sale of assets, if any, as the measure of profit or loss for our operating segments. This measure eliminates the significant level of noncash amortization expense that results from intangible assets recognized in business combinations. Additionally, it is unaffected by our capital structure or investment activities. We use this measure to evaluate our consolidated operating performance and the operating performance of our operating segments and to allocate resources and capital to our operating segments. It is also a significant performance measure in our annual incentive compensation programs. We believe that this measure is useful to investors because it is one of the bases for comparing our operating performance with that of other companies in our industries, although our measure may not be directly comparable to similar measures used by other companies. This measure should not be considered a substitute for operating income (loss), net income (loss) attributable to NBCUniversal, net cash provided by operating activities, or other measures of performance or liquidity we have reported in accordance with GAAP. | ||||||||||||
Condensed_Consolidating_Financ
Condensed Consolidating Financial Information | 3 Months Ended | |||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||
Condensed Consolidating Financial Information [Abstract] | ' | |||||||||||||||||
Condensed Consolidating Financial Information | ' | |||||||||||||||||
Note 12: 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 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 | ||||||||||||||||||
31-Mar-14 | ||||||||||||||||||
(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 | $ | - | $ | - | $ | - | $ | - | $ | 506 | $ | 2,548 | $ | - | $ | 3,054 | ||
Investments | - | - | - | - | - | 2,389 | - | 2,389 | ||||||||||
Receivables, net | - | - | - | - | - | 6,151 | - | 6,151 | ||||||||||
Programming rights | - | - | - | - | - | 863 | - | 863 | ||||||||||
Other current assets | 229 | - | - | - | 29 | 1,328 | - | 1,586 | ||||||||||
Total current assets | 229 | - | - | - | 535 | 13,279 | - | 14,043 | ||||||||||
Film and television costs | - | - | - | - | - | 5,058 | - | 5,058 | ||||||||||
Investments | 21 | - | - | - | 378 | 2,691 | - | 3,090 | ||||||||||
Investments in and amounts due from subsidiaries eliminated upon consolidation | 80,474 | 99,606 | 105,083 | 55,737 | 41,042 | 87,497 | -469,439 | - | ||||||||||
Property and equipment, net | 213 | - | - | - | - | 29,375 | - | 29,588 | ||||||||||
Franchise rights | - | - | - | - | - | 59,364 | - | 59,364 | ||||||||||
Goodwill | - | - | - | - | - | 27,103 | - | 27,103 | ||||||||||
Other intangible assets, net | 10 | - | - | - | - | 17,135 | - | 17,145 | ||||||||||
Other noncurrent assets, net | 1,114 | 145 | - | - | 101 | 1,937 | -915 | 2,382 | ||||||||||
Total assets | $ | 82,061 | $ | 99,751 | $ | 105,083 | $ | 55,737 | $ | 42,056 | $ | 243,439 | $ | -470,354 | $ | 157,773 | ||
Liabilities and Equity | ||||||||||||||||||
Accounts payable and accrued expenses related to trade creditors | $ | 7 | $ | - | $ | - | $ | - | $ | - | $ | 5,527 | $ | - | $ | 5,534 | ||
Accrued participations and residuals | - | - | - | - | - | 1,256 | - | 1,256 | ||||||||||
Accrued expenses and other current liabilities | 1,430 | 266 | 318 | 21 | 398 | 5,761 | - | 8,194 | ||||||||||
Current portion of long-term debt | 900 | - | - | - | 902 | 1,017 | - | 2,819 | ||||||||||
Total current liabilities | 2,337 | 266 | 318 | 21 | 1,300 | 13,561 | - | 17,803 | ||||||||||
Long-term debt, less current portion | 26,455 | 130 | 1,827 | 1,504 | 10,232 | 4,433 | - | 44,581 | ||||||||||
Deferred income taxes | - | 758 | - | - | 58 | 31,553 | -774 | 31,595 | ||||||||||
Other noncurrent liabilities | 2,001 | - | - | - | 937 | 8,312 | -141 | 11,109 | ||||||||||
Redeemable noncontrolling interests and redeemable subsidiary preferred stock | - | - | - | - | - | 1,053 | - | 1,053 | ||||||||||
Equity: | ||||||||||||||||||
Common stock | 30 | - | - | - | - | - | - | 30 | ||||||||||
Other shareholders’ equity | 51,238 | 98,597 | 102,938 | 54,212 | 29,529 | 184,163 | -469,439 | 51,238 | ||||||||||
Total Comcast Corporation | ||||||||||||||||||
shareholders’ equity | 51,268 | 98,597 | 102,938 | 54,212 | 29,529 | 184,163 | -469,439 | 51,268 | ||||||||||
Noncontrolling interests | - | - | - | - | - | 364 | - | 364 | ||||||||||
Total equity | 51,268 | 98,597 | 102,938 | 54,212 | 29,529 | 184,527 | -469,439 | 51,632 | ||||||||||
Total liabilities and equity | $ | 82,061 | $ | 99,751 | $ | 105,083 | $ | 55,737 | $ | 42,056 | $ | 243,439 | $ | -470,354 | $ | 157,773 | ||
Condensed Consolidating Balance Sheet | ||||||||||||||||||
31-Dec-13 | ||||||||||||||||||
(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 March 31, 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 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 17,408 | $ | - | $ | 17,408 | ||
Management fee revenue | 230 | - | 223 | 141 | - | - | -594 | - | ||||||||||
230 | - | 223 | 141 | - | 17,408 | -594 | 17,408 | |||||||||||
Costs and Expenses: | ||||||||||||||||||
Programming and production | - | - | - | - | - | 5,908 | - | 5,908 | ||||||||||
Other operating and administrative | 93 | - | 223 | 141 | 257 | 4,632 | -594 | 4,752 | ||||||||||
Advertising, marketing and promotion | - | - | - | - | - | 1,210 | - | 1,210 | ||||||||||
Depreciation | 7 | - | - | - | - | 1,562 | - | 1,569 | ||||||||||
Amortization | 1 | - | - | - | - | 400 | - | 401 | ||||||||||
101 | - | 223 | 141 | 257 | 13,712 | -594 | 13,840 | |||||||||||
Operating income (loss) | 129 | - | - | - | -257 | 3,696 | - | 3,568 | ||||||||||
Other Income (Expense): | ||||||||||||||||||
Interest expense | -387 | -3 | -45 | -29 | -124 | -54 | - | -642 | ||||||||||
Investment income (loss), net | 1 | 3 | - | - | 1 | 108 | - | 113 | ||||||||||
Equity in net income | ||||||||||||||||||
(losses) of investees, net | 2,038 | 2,267 | 2,165 | 1,511 | 1,071 | 714 | -9,734 | 32 | ||||||||||
Other income (expense), net | - | - | - | - | -4 | -11 | - | -15 | ||||||||||
1,652 | 2,267 | 2,120 | 1,482 | 944 | 757 | -9,734 | -512 | |||||||||||
Income (loss) before income taxes | 1,781 | 2,267 | 2,120 | 1,482 | 687 | 4,453 | -9,734 | 3,056 | ||||||||||
Income tax (expense) benefit | 90 | - | 16 | 10 | -5 | -1,229 | - | -1,118 | ||||||||||
Net income (loss) | 1,871 | 2,267 | 2,136 | 1,492 | 682 | 3,224 | -9,734 | 1,938 | ||||||||||
Net (income) loss attributable | ||||||||||||||||||
to noncontrolling interests and redeemable subsidiary preferred stock | - | - | - | - | - | -67 | - | -67 | ||||||||||
Net income (loss) attributable | ||||||||||||||||||
to Comcast Corporation | $ | 1,871 | $ | 2,267 | $ | 2,136 | $ | 1,492 | $ | 682 | $ | 3,157 | $ | -9,734 | $ | 1,871 | ||
Comprehensive income (loss) | ||||||||||||||||||
attributable to Comcast Corporation | $ | 1,848 | $ | 2,269 | $ | 2,138 | $ | 1,493 | $ | 685 | $ | 3,134 | $ | -9,719 | $ | 1,848 | ||
Condensed Consolidating Statement of Income | ||||||||||||||||||
For the Three Months Ended March 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 | ||||||||||
Revenue: | ||||||||||||||||||
Service revenue | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 15,310 | $ | - | $ | 15,310 | ||
Management fee revenue | 218 | - | 212 | 133 | - | - | -563 | - | ||||||||||
218 | - | 212 | 133 | - | 15,310 | -563 | 15,310 | |||||||||||
Costs and Expenses: | ||||||||||||||||||
Programming and production | - | - | - | - | - | 4,663 | - | 4,663 | ||||||||||
Other operating and administrative | 98 | - | 212 | 133 | 225 | 4,361 | -563 | 4,466 | ||||||||||
Advertising, marketing and promotion | - | - | - | - | - | 1,147 | - | 1,147 | ||||||||||
Depreciation | 7 | - | - | - | - | 1,559 | - | 1,566 | ||||||||||
Amortization | 1 | - | - | - | - | 400 | - | 401 | ||||||||||
106 | - | 212 | 133 | 225 | 12,130 | -563 | 12,243 | |||||||||||
Operating income (loss) | 112 | - | - | - | -225 | 3,180 | - | 3,067 | ||||||||||
Other Income (Expense): | ||||||||||||||||||
Interest expense | -376 | -3 | -78 | -33 | -120 | -43 | - | -653 | ||||||||||
Investment income (loss), net | 1 | -3 | - | - | -4 | 78 | - | 72 | ||||||||||
Equity in net income (losses) of | ||||||||||||||||||
investees, net | 1,608 | 1,742 | 1,763 | 1,262 | 709 | 366 | -7,439 | 11 | ||||||||||
Other income (expense), net | -1 | - | - | - | - | 74 | - | 73 | ||||||||||
1,232 | 1,736 | 1,685 | 1,229 | 585 | 475 | -7,439 | -497 | |||||||||||
Income (loss) before income taxes | 1,344 | 1,736 | 1,685 | 1,229 | 360 | 3,655 | -7,439 | 2,570 | ||||||||||
Income tax (expense) benefit | 93 | 2 | 27 | 11 | -5 | -1,053 | - | -925 | ||||||||||
Net income (loss) | 1,437 | 1,738 | 1,712 | 1,240 | 355 | 2,602 | -7,439 | 1,645 | ||||||||||
Net (income) loss attributable | ||||||||||||||||||
to noncontrolling interests and redeemable subsidiary preferred stock | - | - | - | - | - | -208 | - | -208 | ||||||||||
Net income (loss) | ||||||||||||||||||
attributable to Comcast Corporation | $ | 1,437 | $ | 1,738 | $ | 1,712 | $ | 1,240 | $ | 355 | $ | 2,394 | $ | -7,439 | $ | 1,437 | ||
Comprehensive | ||||||||||||||||||
income (loss) attributable to Comcast Corporation | $ | 1,437 | $ | 1,738 | $ | 1,714 | $ | 1,240 | $ | 333 | $ | 2,407 | $ | -7,432 | $ | 1,437 | ||
Condensed Consolidating Statement of Cash Flows | ||||||||||||||||||
For the Three Months Ended March 31, 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 | $ | -96 | $ | -2 | $ | 110 | $ | -47 | $ | -306 | $ | 4,827 | $ | - | $ | 4,486 | ||
Investing Activities | ||||||||||||||||||
Net transactions with affiliates | 1,370 | 2 | -110 | 47 | 483 | -1,792 | - | - | ||||||||||
Capital expenditures | - | - | - | - | - | -1,448 | - | -1,448 | ||||||||||
Cash paid for intangible assets | - | - | - | - | - | -217 | - | -217 | ||||||||||
Acquisitions and construction of real estate properties | - | - | - | - | - | - | - | - | ||||||||||
Proceeds from sales of businesses and investments | - | - | - | - | - | 300 | - | 300 | ||||||||||
Purchases of investments | -10 | - | - | - | -6 | -21 | - | -37 | ||||||||||
Other | - | - | - | - | - | -103 | - | -103 | ||||||||||
Net cash provided by (used in) investing activities | 1,360 | 2 | -110 | 47 | 477 | -3,281 | - | -1,505 | ||||||||||
Financing Activities | ||||||||||||||||||
Proceeds from (repayments of) short-term borrowings, net | -1,350 | - | - | - | - | 986 | - | -364 | ||||||||||
Proceeds from borrowings | 2,184 | - | - | - | - | 3 | - | 2,187 | ||||||||||
Repurchases and repayments of debt | -1,000 | - | - | - | -1 | -1,259 | - | -2,260 | ||||||||||
Repurchases and retirements of common stock | -750 | - | - | - | - | - | - | -750 | ||||||||||
Dividends paid | -508 | - | - | - | - | - | - | -508 | ||||||||||
Issuances of common stock | 20 | - | - | - | - | - | - | 20 | ||||||||||
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock | - | - | - | - | - | -66 | - | -66 | ||||||||||
Other | 140 | - | - | - | - | -44 | - | 96 | ||||||||||
Net cash provided by (used in) financing activities | -1,264 | - | - | - | -1 | -380 | - | -1,645 | ||||||||||
Increase (decrease) in cash and cash equivalents | - | - | - | - | 170 | 1,166 | - | 1,336 | ||||||||||
Cash and cash equivalents, beginning of period | - | - | - | - | 336 | 1,382 | - | 1,718 | ||||||||||
Cash and cash equivalents, end of period | $ | - | - | - | - | 506 | 2,548 | - | 3,054 | |||||||||
Condensed Consolidating Statement of Cash Flows | ||||||||||||||||||
For the Three Months Ended March 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 | ||||||||||
Net cash provided by (used in) operating activities | $ | -112 | $ | 3 | $ | 49 | $ | -53 | $ | -227 | $ | 4,709 | $ | - | $ | 4,369 | ||
Investing Activities | ||||||||||||||||||
Net transactions with affiliates | -2,480 | -6 | 1,665 | 53 | -1,251 | 2,019 | - | - | ||||||||||
Capital expenditures | - | - | - | - | - | -1,361 | - | -1,361 | ||||||||||
Cash paid for intangible assets | - | - | - | - | - | -182 | - | -182 | ||||||||||
Acquisitions and construction of real estate properties | - | - | - | - | - | -1,311 | - | -1,311 | ||||||||||
Proceeds from sales of businesses and investments | - | - | - | - | - | 74 | - | 74 | ||||||||||
Purchases of investments | - | - | - | - | -1 | -87 | - | -88 | ||||||||||
Other | - | 3 | - | - | -10 | 112 | - | 105 | ||||||||||
Net cash provided by (used in) investing activities | -2,480 | -3 | 1,665 | 53 | -1,262 | -736 | - | -2,763 | ||||||||||
Financing Activities | ||||||||||||||||||
Proceeds from (repayments of) short-term borrowings, net | 500 | - | - | - | - | -9 | - | 491 | ||||||||||
Proceeds from borrowings | 2,933 | - | - | - | - | - | - | 2,933 | ||||||||||
Repurchases and repayments of debt | - | - | -1,714 | - | -87 | -10 | - | -1,811 | ||||||||||
Repurchases and retirements of common stock | -500 | - | - | - | - | - | - | -500 | ||||||||||
Dividends paid | -429 | - | - | - | - | - | - | -429 | ||||||||||
Issuances of common stock | 13 | - | - | - | - | - | - | 13 | ||||||||||
Purchase of NBCUniversal noncontrolling common equity interest | - | - | - | - | -3,200 | -7,547 | - | -10,747 | ||||||||||
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock | - | - | - | - | - | -49 | - | -49 | ||||||||||
Settlement of Station Venture liability | - | - | - | - | - | -602 | - | -602 | ||||||||||
Other | 75 | - | - | - | -40 | -52 | - | -17 | ||||||||||
Net cash provided by (used in) financing activities | 2,592 | - | -1,714 | - | -3,327 | -8,269 | - | -10,718 | ||||||||||
Increase (decrease) in cash and cash equivalents | - | - | - | - | -4,816 | -4,296 | - | -9,112 | ||||||||||
Cash and cash equivalents, beginning of period | - | - | - | - | 5,129 | 5,822 | - | 10,951 | ||||||||||
Cash and cash equivalents, end of period | $ | - | $ | - | $ | - | $ | - | $ | 313 | $ | 1,526 | $ | - | $ | 1,839 | ||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Earnings Per Share | ' | ||||||||||||
Computation of diluted EPS | ' | ||||||||||||
Computation of Diluted EPS | |||||||||||||
Three Months Ended March 31 | |||||||||||||
2014 | 2013 | ||||||||||||
(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 | |||||||
Basic EPS attributable to Comcast Corporation shareholders | $ | 1,871 | 2,603 | $ | 0.72 | $ | 1,437 | 2,634 | $ | 0.55 | |||
Effect of dilutive securities: | |||||||||||||
Assumed exercise or issuance of shares relating to stock | |||||||||||||
plans | 42 | 41 | |||||||||||
Diluted EPS attributable to Comcast Corporation | |||||||||||||
shareholders | $ | 1,871 | 2,645 | $ | 0.71 | $ | 1,437 | 2,675 | $ | 0.54 |
Related_Party_Transactions_Tab
Related Party Transactions (Tables) (NBCUniversal Media, LLC [Member]) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
NBCUniversal Media, LLC [Member] | ' | ||||||||
Related Party Transactions Condensed Financial Statements | ' | ||||||||
Condensed Consolidated Balance Sheet | |||||||||
March 31, | December 31, | ||||||||
(in millions) | 2014 | 2013 | |||||||
Transactions with Comcast and consolidated subsidiaries | |||||||||
Receivables, net | $ | 234 | $ | 228 | |||||
Accounts payable and accrued expenses related to trade creditors | $ | 43 | $ | 56 | |||||
Accrued expenses and other current liabilities | $ | 9 | $ | 37 | |||||
Note payable to Comcast | $ | 938 | $ | 799 | |||||
Other noncurrent liabilities | $ | 383 | $ | 383 | |||||
Condensed Consolidated Statement of Income | |||||||||
Three Months Ended March 31 | |||||||||
(in millions) | 2014 | 2013 | |||||||
Transactions with Comcast and consolidated subsidiaries | |||||||||
Revenue | $ | 361 | $ | 352 | |||||
Operating costs and expenses | $ | -37 | $ | -62 | |||||
Other income (expense) | $ | -9 | $ | - |
Film_and_Television_Costs_Tabl
Film and Television Costs (Tables) | 3 Months Ended | |||||
Mar. 31, 2014 | ||||||
Film and Television Costs | ' | |||||
March 31, | December 31, | |||||
(in millions) | 2014 | 2013 | ||||
Film Costs: | ||||||
Released, less amortization | $ | 1,480 | $ | 1,630 | ||
Completed, not released | 40 | 70 | ||||
In production and in development | 865 | 658 | ||||
2,385 | 2,358 | |||||
Television Costs: | ||||||
Released, less amortization | 1,169 | 1,155 | ||||
In production and in development | 363 | 370 | ||||
1,532 | 1,525 | |||||
Programming rights, less amortization | 2,004 | 2,039 | ||||
5,921 | 5,922 | |||||
Less: Current portion of programming rights | 863 | 928 | ||||
Film and television costs | $ | 5,058 | $ | 4,994 | ||
NBCUniversal Media, LLC [Member] | ' | |||||
Film and Television Costs | ' | |||||
March 31, | December 31, | |||||
(in millions) | 2014 | 2013 | ||||
Film Costs: | ||||||
Released, less amortization | $ | 1,480 | $ | 1,630 | ||
Completed, not released | 40 | 70 | ||||
In production and in development | 865 | 658 | ||||
2,385 | 2,358 | |||||
Television Costs: | ||||||
Released, less amortization | 1,169 | 1,155 | ||||
In production and in development | 363 | 370 | ||||
1,532 | 1,525 | |||||
Programming rights, less amortization | 1,974 | 2,003 | ||||
5,891 | 5,886 | |||||
Less: Current portion of programming rights | 843 | 903 | ||||
Film and television costs | $ | 5,048 | $ | 4,983 | ||
Investments_Tables
Investments (Tables) | 3 Months Ended | |||||
Mar. 31, 2014 | ||||||
Investment Summary | ' | |||||
March 31, | December 31, | |||||
(in millions) | 2014 | 2013 | ||||
Fair Value Method | $ | 2,448 | $ | 4,345 | ||
Equity Method: | ||||||
The Weather Channel | 331 | 333 | ||||
Hulu | 191 | 187 | ||||
Other | 496 | 469 | ||||
1,018 | 989 | |||||
Cost Method: | ||||||
AirTouch | 1,556 | 1,553 | ||||
Other | 457 | 456 | ||||
2,013 | 2,009 | |||||
Total investments | 5,479 | 7,343 | ||||
Less: Current investments | 2,389 | 3,573 | ||||
Noncurrent investments | $ | 3,090 | $ | 3,770 | ||
Investment Income (Loss), Net | ' | |||||
Investment Income (Loss), Net | ||||||
Three Months Ended | ||||||
31-Mar | ||||||
(in millions) | 2014 | 2013 | ||||
Gains on sales and exchanges of investments, net | $ | 83 | $ | 35 | ||
Investment impairment losses | -5 | -9 | ||||
Unrealized gains (losses) on securities underlying prepaid forward sale agreements | -113 | 605 | ||||
Mark to market adjustments on derivative component of prepaid forward sale | ||||||
agreements and indexed debt instruments | 117 | -602 | ||||
Interest and dividend income | 28 | 30 | ||||
Other, net | 3 | 13 | ||||
Investment income (loss), net | $ | 113 | $ | 72 | ||
Prepaid Forward Sale Agreements | ' | |||||
Prepaid Forward Sale Agreements | ||||||
March 31, | December 31, | |||||
(in millions) | 2014 | 2013 | ||||
Assets: | ||||||
Fair value equity securities held as collateral | $ | 2,164 | $ | 3,959 | ||
Liabilities: | ||||||
Obligations under prepaid forward sale agreements | $ | 463 | $ | 811 | ||
Derivative component of prepaid forward sale agreements | 1,501 | 2,800 | ||||
Total liabilities | $ | 1,964 | $ | 3,611 | ||
NBCUniversal Media, LLC [Member] | ' | |||||
Investment Summary | ' | |||||
March 31, | December 31, | |||||
(in millions) | 2014 | 2013 | ||||
Fair Value Method | $ | 11 | $ | 11 | ||
Equity Method: | ||||||
The Weather Channel | 331 | 333 | ||||
Hulu | 191 | 187 | ||||
Other | 343 | 332 | ||||
865 | 852 | |||||
Cost Method | 22 | 21 | ||||
Total investments | $ | 898 | $ | 884 | ||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 3 Months Ended | ||||||||||||
Mar. 31, 2014 | |||||||||||||
Fair Value Assets and Liabilities Measured on Recurring Basis | ' | ||||||||||||
Recurring Fair Value Measures | |||||||||||||
Fair Value as of | |||||||||||||
31-Mar-14 | 31-Dec-13 | ||||||||||||
(in millions) | Level 1 | Level 2 | Level 3 | Total | Total | ||||||||
Assets | |||||||||||||
Trading securities | $ | 2,168 | $ | - | $ | - | $ | 2,168 | $ | 3,956 | |||
Available-for-sale securities | 151 | 117 | 11 | 279 | 389 | ||||||||
Interest rate swap agreements | - | 101 | - | 101 | 110 | ||||||||
Other | - | 74 | 1 | 75 | 81 | ||||||||
Total | $ | 2,319 | $ | 292 | $ | 12 | $ | 2,623 | $ | 4,536 | |||
Liabilities | |||||||||||||
Derivative component of prepaid forward sale agreements | |||||||||||||
and indexed debt instruments | $ | - | $ | 1,515 | $ | - | $ | 1,515 | $ | 2,816 | |||
Contractual obligation | - | - | 761 | 761 | 747 | ||||||||
Contingent consideration | - | - | 677 | 677 | 684 | ||||||||
Other | - | 17 | - | 17 | 16 | ||||||||
Total | $ | - | $ | 1,532 | $ | 1,438 | $ | 2,970 | $ | 4,263 | |||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | ||||||||||||
Changes in Contractual Obligation and Contingent Consideration | |||||||||||||
(in millions) | Contractual Obligation | Contingent Consideration | |||||||||||
Balance, December 31, 2013 | $ | 747 | $ | 684 | |||||||||
Fair value adjustments | 27 | 7 | |||||||||||
Payments | -13 | -14 | |||||||||||
Balance, March 31, 2014 | $ | 761 | $ | 677 | |||||||||
NBCUniversal Media, LLC [Member] | ' | ||||||||||||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | ' | ||||||||||||
Changes in Contractual Obligation | |||||||||||||
(in millions) | Contractual Obligation | ||||||||||||
Balance, December 31, 2013 | $ | 747 | |||||||||||
Fair value adjustments | 27 | ||||||||||||
Payments | -13 | ||||||||||||
Balance, March 31, 2014 | $ | 761 | |||||||||||
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 3 Months Ended | ||||
Mar. 31, 2014 | |||||
Recognized Share-Based Compensation Expense | ' | ||||
Recognized Share-Based Compensation Expense | |||||
Three Months Ended | |||||
31-Mar | |||||
(in millions) | 2014 | 2013 | |||
Stock options | $ | 36 | $ | 32 | |
Restricted share units | 48 | 38 | |||
Employee stock purchase plans | 6 | 6 | |||
Total | $ | 90 | $ | 76 | |
NBCUniversal Media, LLC [Member] | ' | ||||
Recognized Share-Based Compensation Expense | ' | ||||
Recognized Share-Based Compensation Expense | |||||
Three Months Ended | |||||
31-Mar | |||||
(in millions) | 2014 | 2013 | |||
Stock options | $ | 3 | $ | 3 | |
Restricted share units | 13 | 7 | |||
Employee stock purchase plans | 2 | 2 | |||
Total | $ | 18 | $ | 12 |
Supplemental_Financial_Informa1
Supplemental Financial Information (Tables) | 3 Months Ended | |||||||
Mar. 31, 2014 | ||||||||
Receivables | ' | |||||||
Receivables | ||||||||
March 31, | December 31, | |||||||
(in millions) | 2014 | 2013 | ||||||
Receivables, gross | $ | 6,645 | $ | 6,972 | ||||
Less: Allowance for returns and customer incentives | 285 | 375 | ||||||
Less: Allowance for doubtful accounts | 209 | 221 | ||||||
Receivables, net | $ | 6,151 | $ | 6,376 | ||||
Accumulated Other Comprehensive Income (Loss) | ' | |||||||
Accumulated Other Comprehensive Income (Loss) | ||||||||
March 31, | March 31, | |||||||
(in millions) | 2014 | 2013 | ||||||
Unrealized gains (losses) on marketable securities | $ | 47 | $ | 180 | ||||
Deferred gains (losses) on cash flow hedges | -50 | -57 | ||||||
Unrecognized gains (losses) on employee benefit obligations | 71 | -109 | ||||||
Cumulative translation adjustments | -35 | -25 | ||||||
Accumulated other comprehensive income (loss), net of deferred taxes | $ | 33 | $ | -11 | ||||
Schedule Of Adjustments To Reconcile Net Income To Net Cash Provided By Operating Activities | ' | |||||||
Net Cash Provided by Operating Activities | ||||||||
Three Months Ended | ||||||||
31-Mar | ||||||||
(in millions) | 2014 | 2013 | ||||||
Net income | $ | 1,938 | $ | 1,645 | ||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
Depreciation and amortization | 1,970 | 1,967 | ||||||
Amortization of film and television costs | 2,876 | 1,972 | ||||||
Share-based compensation | 119 | 102 | ||||||
Noncash interest expense (income), net | 42 | 42 | ||||||
Equity in net (income) losses of investees, net | -32 | -11 | ||||||
Cash received from investees | 18 | 23 | ||||||
Net (gain) loss on investment activity and other | -59 | -132 | ||||||
Deferred income taxes | -226 | -373 | ||||||
Changes in operating assets and liabilities, net of effects of acquisitions and divestitures: | ||||||||
Change in current and noncurrent receivables, net | 195 | 465 | ||||||
Change in film and television costs | -2,722 | -1,577 | ||||||
Change in accounts payable and accrued expenses related to trade creditors | 82 | -281 | ||||||
Change in other operating assets and liabilities | 285 | 527 | ||||||
Net cash provided by operating activities | $ | 4,486 | $ | 4,369 | ||||
Cash Payments For Interest and Income Taxes | ' | |||||||
Cash Payments for Interest and Income Taxes | ||||||||
Three Months Ended | ||||||||
31-Mar | ||||||||
(in millions) | 2014 | 2013 | ||||||
Interest | $ | 623 | $ | 617 | ||||
Income taxes | $ | 186 | $ | 461 | ||||
NBCUniversal Media, LLC [Member] | ' | |||||||
Receivables | ' | |||||||
Receivables | ||||||||
March 31, | December 31, | |||||||
(in millions) | 2014 | 2013 | ||||||
Receivables, gross | $ | 5,172 | $ | 5,348 | ||||
Less: Allowance for returns and customer incentives | 282 | 372 | ||||||
Less: Allowance for doubtful accounts | 64 | 65 | ||||||
Receivables, net | $ | 4,826 | $ | 4,911 | ||||
Accumulated Other Comprehensive Income (Loss) | ' | |||||||
Accumulated Other Comprehensive Income (Loss) | ||||||||
March 31, | March 31, | |||||||
(in millions) | 2014 | 2013 | ||||||
Deferred gains (losses) on cash flow hedges | $ | -6 | $ | - | ||||
Unrecognized gains (losses) on employee benefit obligations | 46 | -50 | ||||||
Cumulative translation adjustments | -53 | -37 | ||||||
Accumulated other comprehensive income (loss), net of deferred taxes | $ | -13 | $ | -87 | ||||
Schedule Of Adjustments To Reconcile Net Income To Net Cash Provided By Operating Activities | ' | |||||||
Net Cash Provided by Operating Activities | ||||||||
Three Months Ended | ||||||||
31-Mar | ||||||||
(in millions) | 2014 | 2013 | ||||||
Net income | $ | 741 | $ | 411 | ||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
Depreciation and amortization | 365 | 344 | ||||||
Amortization of film and television costs | 2,862 | 1,956 | ||||||
Share-based compensation | - | 7 | ||||||
Equity in net (income) losses of investees, net | -18 | -11 | ||||||
Cash received from investees | 12 | 15 | ||||||
Net (gain) loss on investment activity and other | 21 | 32 | ||||||
Deferred income taxes | 16 | -17 | ||||||
Changes in operating assets and liabilities, net of effects of acquisitions and divestitures: | ||||||||
Change in current and noncurrent receivables, net | 55 | 204 | ||||||
Change in film and television costs | -2,714 | -1,567 | ||||||
Change in accounts payable and accrued expenses related to trade creditors | -117 | -283 | ||||||
Change in other operating assets and liabilities | -467 | 14 | ||||||
Net cash provided by operating activities | $ | 756 | $ | 1,105 | ||||
Cash Payments For Interest and Income Taxes | ' | |||||||
Cash Payments for Interest and Income Taxes | ||||||||
Three Months Ended | ||||||||
31-Mar | ||||||||
(in millions) | 2014 | 2013 | ||||||
Interest | $ | 36 | $ | 20 | ||||
Income taxes | $ | 53 | $ | 55 |
Financial_Data_by_Business_Seg1
Financial Data by Business Segment (Tables) | 3 Months Ended | |||||||||||
Mar. 31, 2014 | ||||||||||||
Financial Data by Business Segment | ' | |||||||||||
Three Months Ended March 31, 2014 | ||||||||||||
(in millions) | Revenue(e) | Operating Income (Loss) Before Depreciation and Amortization(f) | Depreciation and Amortization | Operating Income (Loss) | Capital Expenditures | |||||||
Cable Communications(a) | $ | 10,757 | $ | 4,400 | $ | 1,584 | $ | 2,816 | $ | 1,145 | ||
NBCUniversal | ||||||||||||
Cable Networks(b) | 2,505 | 895 | 189 | 706 | 11 | |||||||
Broadcast Television | 2,621 | 122 | 27 | 95 | 11 | |||||||
Filmed Entertainment(b) | 1,351 | 288 | 5 | 283 | 1 | |||||||
Theme Parks | 487 | 170 | 69 | 101 | 144 | |||||||
Headquarters and Other(c) | 2 | -163 | 75 | -238 | 124 | |||||||
Eliminations(d) | -90 | -1 | - | -1 | - | |||||||
NBCUniversal | 6,876 | 1,311 | 365 | 946 | 291 | |||||||
Corporate and Other | 174 | -153 | 21 | -174 | 12 | |||||||
Eliminations(d) | -399 | -20 | - | -20 | - | |||||||
Comcast Consolidated | $ | 17,408 | $ | 5,538 | $ | 1,970 | $ | 3,568 | $ | 1,448 | ||
Three Months Ended March 31, 2013 | ||||||||||||
(in millions) | Revenue(e) | Operating Income (Loss) Before Depreciation and Amortization(f) | Depreciation and Amortization | Operating Income (Loss) | Capital Expenditures | |||||||
Cable Communications(a) | $ | 10,217 | $ | 4,219 | $ | 1,608 | $ | 2,611 | $ | 1,094 | ||
NBCUniversal | ||||||||||||
Cable Networks(b) | 2,225 | 859 | 184 | 675 | 24 | |||||||
Broadcast Television | 1,517 | -35 | 25 | -60 | 8 | |||||||
Filmed Entertainment(b) | 1,216 | 69 | 4 | 65 | 2 | |||||||
Theme Parks | 462 | 173 | 72 | 101 | 138 | |||||||
Headquarters and Other(c) | 9 | -112 | 59 | -171 | 91 | |||||||
Eliminations(d) | -89 | -1 | - | -1 | - | |||||||
NBCUniversal | 5,340 | 953 | 344 | 609 | 263 | |||||||
Corporate and Other | 162 | -83 | 15 | -98 | 4 | |||||||
Eliminations(d) | -409 | -55 | - | -55 | - | |||||||
Comcast Consolidated | $ | 15,310 | $ | 5,034 | $ | 1,967 | $ | 3,067 | $ | 1,361 | ||
Cable Segment Revenue Sources | ' | |||||||||||
Three Months Ended | ||||||||||||
31-Mar | ||||||||||||
2014 | 2013 | |||||||||||
Residential: | ||||||||||||
Video | 48.1 | % | 50 | % | ||||||||
High-speed Internet | 25.6 | % | 24.7 | % | ||||||||
Voice | 8.5 | % | 8.8 | % | ||||||||
Business services | 8.5 | % | 7.2 | % | ||||||||
Advertising | 4.8 | % | 4.8 | % | ||||||||
Other | 4.5 | % | 4.5 | % | ||||||||
Total | 100 | % | 100 | % | ||||||||
NBCUniversal Media, LLC [Member] | ' | |||||||||||
Financial Data by Business Segment | ' | |||||||||||
Three Months Ended March 31, 2014 | ||||||||||||
(in millions) | Revenue(d) | Operating Income (Loss) Before Depreciation and Amortization(e) | Depreciation and Amortization | Operating Income (Loss) | Capital Expenditures | |||||||
Cable Networks(a) | $ | 2,505 | $ | 895 | $ | 189 | $ | 706 | $ | 11 | ||
Broadcast Television | 2,621 | 122 | 27 | 95 | 11 | |||||||
Filmed Entertainment(a) | 1,351 | 288 | 5 | 283 | 1 | |||||||
Theme Parks | 487 | 170 | 69 | 101 | 144 | |||||||
Headquarters and Other(b) | 2 | -163 | 75 | -238 | 124 | |||||||
Eliminations(c) | -90 | -1 | - | -1 | - | |||||||
Total | $ | 6,876 | $ | 1,311 | $ | 365 | $ | 946 | $ | 291 | ||
Three Months Ended March 31, 2013 | ||||||||||||
(in millions) | Revenue(d) | Operating Income (Loss) Before Depreciation and Amortization(e) | Depreciation and Amortization | Operating Income (Loss) | Capital Expenditures | |||||||
Cable Networks(a) | $ | 2,225 | $ | 859 | $ | 184 | $ | 675 | $ | 24 | ||
Broadcast Television | 1,517 | -35 | 25 | -60 | 8 | |||||||
Filmed Entertainment(a) | 1,216 | 69 | 4 | 65 | 2 | |||||||
Theme Parks | 462 | 173 | 72 | 101 | 138 | |||||||
Headquarters and Other(b) | 9 | -112 | 59 | -171 | 91 | |||||||
Eliminations(c) | -89 | -1 | - | -1 | - | |||||||
Total | $ | 5,340 | $ | 953 | $ | 344 | $ | 609 | $ | 263 | ||
Condensed_Consolidating_Financ1
Condensed Consolidating Financial Information (Tables) | 3 Months Ended | |||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||
Condensed Consolidating Financial Information [Abstract] | ' | |||||||||||||||||
Condensed Consolidating Financial Statements | ' | |||||||||||||||||
Condensed Consolidating Balance Sheet | ||||||||||||||||||
31-Mar-14 | ||||||||||||||||||
(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 | $ | - | $ | - | $ | - | $ | - | $ | 506 | $ | 2,548 | $ | - | $ | 3,054 | ||
Investments | - | - | - | - | - | 2,389 | - | 2,389 | ||||||||||
Receivables, net | - | - | - | - | - | 6,151 | - | 6,151 | ||||||||||
Programming rights | - | - | - | - | - | 863 | - | 863 | ||||||||||
Other current assets | 229 | - | - | - | 29 | 1,328 | - | 1,586 | ||||||||||
Total current assets | 229 | - | - | - | 535 | 13,279 | - | 14,043 | ||||||||||
Film and television costs | - | - | - | - | - | 5,058 | - | 5,058 | ||||||||||
Investments | 21 | - | - | - | 378 | 2,691 | - | 3,090 | ||||||||||
Investments in and amounts due from subsidiaries eliminated upon consolidation | 80,474 | 99,606 | 105,083 | 55,737 | 41,042 | 87,497 | -469,439 | - | ||||||||||
Property and equipment, net | 213 | - | - | - | - | 29,375 | - | 29,588 | ||||||||||
Franchise rights | - | - | - | - | - | 59,364 | - | 59,364 | ||||||||||
Goodwill | - | - | - | - | - | 27,103 | - | 27,103 | ||||||||||
Other intangible assets, net | 10 | - | - | - | - | 17,135 | - | 17,145 | ||||||||||
Other noncurrent assets, net | 1,114 | 145 | - | - | 101 | 1,937 | -915 | 2,382 | ||||||||||
Total assets | $ | 82,061 | $ | 99,751 | $ | 105,083 | $ | 55,737 | $ | 42,056 | $ | 243,439 | $ | -470,354 | $ | 157,773 | ||
Liabilities and Equity | ||||||||||||||||||
Accounts payable and accrued expenses related to trade creditors | $ | 7 | $ | - | $ | - | $ | - | $ | - | $ | 5,527 | $ | - | $ | 5,534 | ||
Accrued participations and residuals | - | - | - | - | - | 1,256 | - | 1,256 | ||||||||||
Accrued expenses and other current liabilities | 1,430 | 266 | 318 | 21 | 398 | 5,761 | - | 8,194 | ||||||||||
Current portion of long-term debt | 900 | - | - | - | 902 | 1,017 | - | 2,819 | ||||||||||
Total current liabilities | 2,337 | 266 | 318 | 21 | 1,300 | 13,561 | - | 17,803 | ||||||||||
Long-term debt, less current portion | 26,455 | 130 | 1,827 | 1,504 | 10,232 | 4,433 | - | 44,581 | ||||||||||
Deferred income taxes | - | 758 | - | - | 58 | 31,553 | -774 | 31,595 | ||||||||||
Other noncurrent liabilities | 2,001 | - | - | - | 937 | 8,312 | -141 | 11,109 | ||||||||||
Redeemable noncontrolling interests and redeemable subsidiary preferred stock | - | - | - | - | - | 1,053 | - | 1,053 | ||||||||||
Equity: | ||||||||||||||||||
Common stock | 30 | - | - | - | - | - | - | 30 | ||||||||||
Other shareholders’ equity | 51,238 | 98,597 | 102,938 | 54,212 | 29,529 | 184,163 | -469,439 | 51,238 | ||||||||||
Total Comcast Corporation | ||||||||||||||||||
shareholders’ equity | 51,268 | 98,597 | 102,938 | 54,212 | 29,529 | 184,163 | -469,439 | 51,268 | ||||||||||
Noncontrolling interests | - | - | - | - | - | 364 | - | 364 | ||||||||||
Total equity | 51,268 | 98,597 | 102,938 | 54,212 | 29,529 | 184,527 | -469,439 | 51,632 | ||||||||||
Total liabilities and equity | $ | 82,061 | $ | 99,751 | $ | 105,083 | $ | 55,737 | $ | 42,056 | $ | 243,439 | $ | -470,354 | $ | 157,773 | ||
Condensed Consolidating Balance Sheet | ||||||||||||||||||
31-Dec-13 | ||||||||||||||||||
(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 March 31, 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 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 17,408 | $ | - | $ | 17,408 | ||
Management fee revenue | 230 | - | 223 | 141 | - | - | -594 | - | ||||||||||
230 | - | 223 | 141 | - | 17,408 | -594 | 17,408 | |||||||||||
Costs and Expenses: | ||||||||||||||||||
Programming and production | - | - | - | - | - | 5,908 | - | 5,908 | ||||||||||
Other operating and administrative | 93 | - | 223 | 141 | 257 | 4,632 | -594 | 4,752 | ||||||||||
Advertising, marketing and promotion | - | - | - | - | - | 1,210 | - | 1,210 | ||||||||||
Depreciation | 7 | - | - | - | - | 1,562 | - | 1,569 | ||||||||||
Amortization | 1 | - | - | - | - | 400 | - | 401 | ||||||||||
101 | - | 223 | 141 | 257 | 13,712 | -594 | 13,840 | |||||||||||
Operating income (loss) | 129 | - | - | - | -257 | 3,696 | - | 3,568 | ||||||||||
Other Income (Expense): | ||||||||||||||||||
Interest expense | -387 | -3 | -45 | -29 | -124 | -54 | - | -642 | ||||||||||
Investment income (loss), net | 1 | 3 | - | - | 1 | 108 | - | 113 | ||||||||||
Equity in net income | ||||||||||||||||||
(losses) of investees, net | 2,038 | 2,267 | 2,165 | 1,511 | 1,071 | 714 | -9,734 | 32 | ||||||||||
Other income (expense), net | - | - | - | - | -4 | -11 | - | -15 | ||||||||||
1,652 | 2,267 | 2,120 | 1,482 | 944 | 757 | -9,734 | -512 | |||||||||||
Income (loss) before income taxes | 1,781 | 2,267 | 2,120 | 1,482 | 687 | 4,453 | -9,734 | 3,056 | ||||||||||
Income tax (expense) benefit | 90 | - | 16 | 10 | -5 | -1,229 | - | -1,118 | ||||||||||
Net income (loss) | 1,871 | 2,267 | 2,136 | 1,492 | 682 | 3,224 | -9,734 | 1,938 | ||||||||||
Net (income) loss attributable | ||||||||||||||||||
to noncontrolling interests and redeemable subsidiary preferred stock | - | - | - | - | - | -67 | - | -67 | ||||||||||
Net income (loss) attributable | ||||||||||||||||||
to Comcast Corporation | $ | 1,871 | $ | 2,267 | $ | 2,136 | $ | 1,492 | $ | 682 | $ | 3,157 | $ | -9,734 | $ | 1,871 | ||
Comprehensive income (loss) | ||||||||||||||||||
attributable to Comcast Corporation | $ | 1,848 | $ | 2,269 | $ | 2,138 | $ | 1,493 | $ | 685 | $ | 3,134 | $ | -9,719 | $ | 1,848 | ||
Condensed Consolidating Statement of Income | ||||||||||||||||||
For the Three Months Ended March 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 | ||||||||||
Revenue: | ||||||||||||||||||
Service revenue | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 15,310 | $ | - | $ | 15,310 | ||
Management fee revenue | 218 | - | 212 | 133 | - | - | -563 | - | ||||||||||
218 | - | 212 | 133 | - | 15,310 | -563 | 15,310 | |||||||||||
Costs and Expenses: | ||||||||||||||||||
Programming and production | - | - | - | - | - | 4,663 | - | 4,663 | ||||||||||
Other operating and administrative | 98 | - | 212 | 133 | 225 | 4,361 | -563 | 4,466 | ||||||||||
Advertising, marketing and promotion | - | - | - | - | - | 1,147 | - | 1,147 | ||||||||||
Depreciation | 7 | - | - | - | - | 1,559 | - | 1,566 | ||||||||||
Amortization | 1 | - | - | - | - | 400 | - | 401 | ||||||||||
106 | - | 212 | 133 | 225 | 12,130 | -563 | 12,243 | |||||||||||
Operating income (loss) | 112 | - | - | - | -225 | 3,180 | - | 3,067 | ||||||||||
Other Income (Expense): | ||||||||||||||||||
Interest expense | -376 | -3 | -78 | -33 | -120 | -43 | - | -653 | ||||||||||
Investment income (loss), net | 1 | -3 | - | - | -4 | 78 | - | 72 | ||||||||||
Equity in net income (losses) of | ||||||||||||||||||
investees, net | 1,608 | 1,742 | 1,763 | 1,262 | 709 | 366 | -7,439 | 11 | ||||||||||
Other income (expense), net | -1 | - | - | - | - | 74 | - | 73 | ||||||||||
1,232 | 1,736 | 1,685 | 1,229 | 585 | 475 | -7,439 | -497 | |||||||||||
Income (loss) before income taxes | 1,344 | 1,736 | 1,685 | 1,229 | 360 | 3,655 | -7,439 | 2,570 | ||||||||||
Income tax (expense) benefit | 93 | 2 | 27 | 11 | -5 | -1,053 | - | -925 | ||||||||||
Net income (loss) | 1,437 | 1,738 | 1,712 | 1,240 | 355 | 2,602 | -7,439 | 1,645 | ||||||||||
Net (income) loss attributable | ||||||||||||||||||
to noncontrolling interests and redeemable subsidiary preferred stock | - | - | - | - | - | -208 | - | -208 | ||||||||||
Net income (loss) | ||||||||||||||||||
attributable to Comcast Corporation | $ | 1,437 | $ | 1,738 | $ | 1,712 | $ | 1,240 | $ | 355 | $ | 2,394 | $ | -7,439 | $ | 1,437 | ||
Comprehensive | ||||||||||||||||||
income (loss) attributable to Comcast Corporation | $ | 1,437 | $ | 1,738 | $ | 1,714 | $ | 1,240 | $ | 333 | $ | 2,407 | $ | -7,432 | $ | 1,437 | ||
Condensed Consolidating Statement of Cash Flows | ||||||||||||||||||
For the Three Months Ended March 31, 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 | $ | -96 | $ | -2 | $ | 110 | $ | -47 | $ | -306 | $ | 4,827 | $ | - | $ | 4,486 | ||
Investing Activities | ||||||||||||||||||
Net transactions with affiliates | 1,370 | 2 | -110 | 47 | 483 | -1,792 | - | - | ||||||||||
Capital expenditures | - | - | - | - | - | -1,448 | - | -1,448 | ||||||||||
Cash paid for intangible assets | - | - | - | - | - | -217 | - | -217 | ||||||||||
Acquisitions and construction of real estate properties | - | - | - | - | - | - | - | - | ||||||||||
Proceeds from sales of businesses and investments | - | - | - | - | - | 300 | - | 300 | ||||||||||
Purchases of investments | -10 | - | - | - | -6 | -21 | - | -37 | ||||||||||
Other | - | - | - | - | - | -103 | - | -103 | ||||||||||
Net cash provided by (used in) investing activities | 1,360 | 2 | -110 | 47 | 477 | -3,281 | - | -1,505 | ||||||||||
Financing Activities | ||||||||||||||||||
Proceeds from (repayments of) short-term borrowings, net | -1,350 | - | - | - | - | 986 | - | -364 | ||||||||||
Proceeds from borrowings | 2,184 | - | - | - | - | 3 | - | 2,187 | ||||||||||
Repurchases and repayments of debt | -1,000 | - | - | - | -1 | -1,259 | - | -2,260 | ||||||||||
Repurchases and retirements of common stock | -750 | - | - | - | - | - | - | -750 | ||||||||||
Dividends paid | -508 | - | - | - | - | - | - | -508 | ||||||||||
Issuances of common stock | 20 | - | - | - | - | - | - | 20 | ||||||||||
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock | - | - | - | - | - | -66 | - | -66 | ||||||||||
Other | 140 | - | - | - | - | -44 | - | 96 | ||||||||||
Net cash provided by (used in) financing activities | -1,264 | - | - | - | -1 | -380 | - | -1,645 | ||||||||||
Increase (decrease) in cash and cash equivalents | - | - | - | - | 170 | 1,166 | - | 1,336 | ||||||||||
Cash and cash equivalents, beginning of period | - | - | - | - | 336 | 1,382 | - | 1,718 | ||||||||||
Cash and cash equivalents, end of period | $ | - | - | - | - | 506 | 2,548 | - | 3,054 | |||||||||
Condensed Consolidating Statement of Cash Flows | ||||||||||||||||||
For the Three Months Ended March 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 | ||||||||||
Net cash provided by (used in) operating activities | $ | -112 | $ | 3 | $ | 49 | $ | -53 | $ | -227 | $ | 4,709 | $ | - | $ | 4,369 | ||
Investing Activities | ||||||||||||||||||
Net transactions with affiliates | -2,480 | -6 | 1,665 | 53 | -1,251 | 2,019 | - | - | ||||||||||
Capital expenditures | - | - | - | - | - | -1,361 | - | -1,361 | ||||||||||
Cash paid for intangible assets | - | - | - | - | - | -182 | - | -182 | ||||||||||
Acquisitions and construction of real estate properties | - | - | - | - | - | -1,311 | - | -1,311 | ||||||||||
Proceeds from sales of businesses and investments | - | - | - | - | - | 74 | - | 74 | ||||||||||
Purchases of investments | - | - | - | - | -1 | -87 | - | -88 | ||||||||||
Other | - | 3 | - | - | -10 | 112 | - | 105 | ||||||||||
Net cash provided by (used in) investing activities | -2,480 | -3 | 1,665 | 53 | -1,262 | -736 | - | -2,763 | ||||||||||
Financing Activities | ||||||||||||||||||
Proceeds from (repayments of) short-term borrowings, net | 500 | - | - | - | - | -9 | - | 491 | ||||||||||
Proceeds from borrowings | 2,933 | - | - | - | - | - | - | 2,933 | ||||||||||
Repurchases and repayments of debt | - | - | -1,714 | - | -87 | -10 | - | -1,811 | ||||||||||
Repurchases and retirements of common stock | -500 | - | - | - | - | - | - | -500 | ||||||||||
Dividends paid | -429 | - | - | - | - | - | - | -429 | ||||||||||
Issuances of common stock | 13 | - | - | - | - | - | - | 13 | ||||||||||
Purchase of NBCUniversal noncontrolling common equity interest | - | - | - | - | -3,200 | -7,547 | - | -10,747 | ||||||||||
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock | - | - | - | - | - | -49 | - | -49 | ||||||||||
Settlement of Station Venture liability | - | - | - | - | - | -602 | - | -602 | ||||||||||
Other | 75 | - | - | - | -40 | -52 | - | -17 | ||||||||||
Net cash provided by (used in) financing activities | 2,592 | - | -1,714 | - | -3,327 | -8,269 | - | -10,718 | ||||||||||
Increase (decrease) in cash and cash equivalents | - | - | - | - | -4,816 | -4,296 | - | -9,112 | ||||||||||
Cash and cash equivalents, beginning of period | - | - | - | - | 5,129 | 5,822 | - | 10,951 | ||||||||||
Cash and cash equivalents, end of period | $ | - | $ | - | $ | - | $ | - | $ | 313 | $ | 1,526 | $ | - | $ | 1,839 | ||
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | |
In Millions, except Per Share data, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Earnings Per Share | ' | ' |
Excluded shares from diluted EPS because their inclusion would have an antidilutive effect | 2 | 2 |
Net income attributable to Parent | $1,871 | $1,437 |
Basic shares attributable to Comcast Corporation shareholders | 2,603 | 2,634 |
Assumed exercise or issuance of shares relating to stock plans | 42 | 41 |
Diluted shares attributable to Comcast Corporation shareholders | 2,645 | 2,675 |
Basic earnings per common share attributable to Comcast Corporation shareholders | $0.72 | $0.55 |
Diluted earnings per common share attributable to Comcast Corporation shareholders | $0.71 | $0.54 |
Significant_Transactions_Narra
Significant Transactions (Narrative) (Details) | 3 Months Ended |
Mar. 31, 2014 | |
Significant Transactions [Line Items] | ' |
Percentage Of Voting Interests To Be Acquired | 100.00% |
Company Shares Exchanged For Each Acquiree Share | 2.875 |
Acquiree Stockholders Percentage Ownership In Parent Company | 23.00% |
Related_Party_Transactions_Nar
Related Party Transactions (Narrative) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 |
NBCUniversal Media, LLC [Member] | NBCUniversal Media, LLC [Member] | Nbcuniversal Holdings Preferred Stock [Member] | Carrying Value Of Related Party Contractual Obligation [Member] | |||
NBCUniversal Media, LLC [Member] | NBCUniversal Media, LLC [Member] | |||||
Preferred stock liquidition preference value | ' | ' | ' | ' | $9,400,000,000 | ' |
Revolving Credit Agreement Capacity | ' | ' | 3,000,000,000 | ' | ' | ' |
Preferred stock dividend rate percentage | ' | ' | ' | ' | 8.25% | ' |
Borrowing margin for LIBOR based borrowings | ' | ' | 1.00% | ' | ' | ' |
Other noncurrent liabilities | $11,109,000,000 | $11,384,000,000 | $3,362,000,000 | $3,412,000,000 | ' | $383,000,000 |
Related_Party_Transactions_Con
Related Party Transactions - Consolidated Balance Sheet (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Receivables, net | $6,151 | $6,376 |
Accounts payable and accrued expenses related to trade creditors | 5,534 | 5,528 |
Accrued expenses and other current liabilities | 7,418 | 7,967 |
Other noncurrent liabilities | 11,109 | 11,384 |
NBCUniversal Media, LLC [Member] | ' | ' |
Receivables, net | 4,826 | 4,911 |
Accounts payable and accrued expenses related to trade creditors | 1,421 | 1,583 |
Accrued expenses and other current liabilities | 1,269 | 1,465 |
Note payable to Comcast | 938 | 799 |
Other noncurrent liabilities | 3,362 | 3,412 |
Transactions With Comcast And Consolidated Subsidiaries [Member] | NBCUniversal Media, LLC [Member] | ' | ' |
Receivables, net | 234 | 228 |
Accounts payable and accrued expenses related to trade creditors | 43 | 56 |
Accrued expenses and other current liabilities | 9 | 37 |
Note payable to Comcast | 938 | 799 |
Other noncurrent liabilities | $383 | $383 |
Related_Party_Transactions_Con1
Related Party Transactions - Consolidated Statement of Income (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Revenue | $17,408 | $15,310 |
NBCUniversal Media, LLC [Member] | ' | ' |
Revenue | 6,876 | 5,340 |
Transactions With Comcast And Consolidated Subsidiaries [Member] | NBCUniversal Media, LLC [Member] | ' | ' |
Revenue | 361 | 352 |
Operating costs and expenses | -37 | -62 |
Other income (expense) | ($9) | ' |
Film_and_Television_Costs_Film
Film and Television Costs (Film and Television Costs)(Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Film And Television Costs [Line Items] | ' | ' |
Total film costs | $2,385 | $2,358 |
Total television costs | 1,532 | 1,525 |
Programming rights, less amortization | 2,004 | 2,039 |
Total film costs, television costs and programming rights | 5,921 | 5,922 |
Less: Current portion of programming rights | 863 | 928 |
Film and television costs | 5,058 | 4,994 |
NBCUniversal Media, LLC [Member] | ' | ' |
Film And Television Costs [Line Items] | ' | ' |
Programming rights, less amortization | 1,974 | 2,003 |
Total film costs, television costs and programming rights | 5,891 | 5,886 |
Less: Current portion of programming rights | 843 | 903 |
Film and television costs | 5,048 | 4,983 |
Film Costs [Member] | ' | ' |
Film And Television Costs [Line Items] | ' | ' |
Released, less amortization | 1,480 | 1,630 |
Completed, not released | 40 | 70 |
In production and in development | 865 | 658 |
Film Costs [Member] | NBCUniversal Media, LLC [Member] | ' | ' |
Film And Television Costs [Line Items] | ' | ' |
Released, less amortization | 1,480 | 1,630 |
Completed, not released | 40 | 70 |
In production and in development | 865 | 658 |
Total film costs | 2,385 | 2,358 |
Television Costs [Member] | ' | ' |
Film And Television Costs [Line Items] | ' | ' |
Released, less amortization | 1,169 | 1,155 |
In production and in development | 363 | 370 |
Television Costs [Member] | NBCUniversal Media, LLC [Member] | ' | ' |
Film And Television Costs [Line Items] | ' | ' |
Released, less amortization | 1,169 | 1,155 |
In production and in development | 363 | 370 |
Total television costs | $1,532 | $1,525 |
Investments_Details
Investments (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Fair value method | $2,448 | $4,345 |
Equity method | 1,018 | 989 |
Cost method | 2,013 | 2,009 |
Total Investments | 5,479 | 7,343 |
Less: Current investments | 2,389 | 3,573 |
Noncurrent investments | 3,090 | 3,770 |
NBCUniversal Media, LLC [Member] | ' | ' |
Fair value method | 11 | 11 |
Equity method | 865 | 852 |
Cost method | 22 | 21 |
Total Investments | 898 | 884 |
Other Equity Method Investments [Member] | ' | ' |
Equity method | 496 | 469 |
Other Equity Method Investments [Member] | NBCUniversal Media, LLC [Member] | ' | ' |
Equity method | 343 | 332 |
Air Touch [Member] | ' | ' |
Cost method | 1,556 | 1,553 |
Other Cost Method Investment [Member] | ' | ' |
Cost method | 457 | 456 |
The Weather Channel [Member] | ' | ' |
Equity method | 331 | 333 |
The Weather Channel [Member] | NBCUniversal Media, LLC [Member] | ' | ' |
Equity method | 331 | 333 |
Hulu [Member] | ' | ' |
Equity method | 191 | 187 |
Hulu [Member] | NBCUniversal Media, LLC [Member] | ' | ' |
Equity method | $191 | $187 |
Investments_Investment_Income_
Investments (Investment Income (Loss), Net) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Gains on sales and exchanges of investments, net | $83 | $35 |
Investment impairment losses | -5 | -9 |
Unrealized gains (losses) on securities underlying prepaid forward sale agreements | -113 | 605 |
Mark to market adjustments on derivative component of prepaid forward sale agreements and indexed debt instruments | 117 | -602 |
Interest and dividend income | 28 | 30 |
Other, net | 3 | 13 |
Investment income (loss), net | 113 | 72 |
NBCUniversal Media, LLC [Member] | ' | ' |
Investment income (loss), net | $6 | $3 |
Investments_Fair_Value_Method_
Investments (Fair Value Method Investments) (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Dec. 31, 2013 | |
Fair value equity securities held as collateral | $2,164,000,000 | $3,959,000,000 |
Obligations under prepaid forward sale agreements | 463,000,000 | 811,000,000 |
Derivative component of prepaid forward sale agreements | 1,501,000,000 | 2,800,000,000 |
Total liabilities associated with prepaid forward sale agreements | 1,964,000,000 | 3,611,000,000 |
Prepaid forward sale obligations fair value | 2,000,000,000 | ' |
Prepaid Forward Obligations Settlement | $1,500,000,000 | ' |
Investments_Cost_Method_Invest
Investments (Cost Method Investments) (Details) (Air Touch [Member], USD $) | Mar. 31, 2014 |
Air Touch [Member] | ' |
Fair value of AirTouch preferred stock related to redeemable preferred shares | $1,700,000,000 |
Fair value amount of redeemable preferred stock | $1,700,000,000 |
LongTerm_Debt_Narrative_Detail
Long-Term Debt (Narrative) (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Total debt | $47,400,000,000 | ' |
Long-term Debt, Fair Value | 52,500,000,000 | ' |
Amounts available under revolving credit facilities | 6,300,000,000 | ' |
Repurchases and repayments of debt | 2,260,000,000 | 1,811,000,000 |
Holding company ownership in subsidiaries | 100.00% | ' |
Proceeds from (repayments of) short-term borrowings, net | -364,000,000 | 491,000,000 |
NBCUniversal Media, LLC [Member] | ' | ' |
Total debt | 11,200,000,000 | ' |
Long-term Debt, Fair Value | 12,100,000,000 | ' |
Holding company ownership in subsidiaries | 100.00% | ' |
Related Party Aggregate Principal Amount Senior Notes Not Subject To Guarantee | 4,000,000,000 | ' |
Related Party Credit Facility Not Subject To Guarantee | 1,350,000,000 | ' |
Related Party Liquidation Preference Preferred Stock Not Subject To Guarantee | 725,000,000 | ' |
NBCUniversal Enterprise Credit Facility | ' | ' |
Debt Instrument, Maturity Date, Description | 'March 2018 | ' |
Credit facility borrowing capacity | 1,350,000,000 | ' |
Amounts available under revolving credit facilities | 360,000,000 | ' |
Repurchases and repayments of debt | 1,250,000,000 | ' |
Comcast And Comcast Cable Communications LLC [Member] | NBCUniversal Media, LLC [Member] | ' | ' |
Debt Instrument, Maturity Date, Description | ' 2017 | ' |
Guarantee Obligations Current Principal Balance | 30,700,000,000 | ' |
Guarantee Obligations Revolving Credit Facility | 6,250,000,000 | ' |
NBCUniversal Enterprise [Member] | ' | ' |
Commercial paper | 990,000,000 | ' |
Proceeds from (repayments of) short-term borrowings, net | 990,000,000 | ' |
NBCUniversal Enterprise Commercial Paper [Member] | ' | ' |
Credit facility borrowing capacity | 1,350,000,000 | ' |
Senior 3.60% Notes Due 2024 [Member] | ' | ' |
Principal amount | 1,200,000,000 | ' |
Interest rate | 3.60% | ' |
Debt Instrument, Maturity Date, Description | '2024 | ' |
Senior 4.75% Notes Due 2044 [Member] | ' | ' |
Principal amount | 1,000,000,000 | ' |
Interest rate | 4.75% | ' |
Debt Instrument, Maturity Date, Description | '2044 | ' |
Senior 5.3% Notes Due 2014 [Member] | ' | ' |
Interest rate | 5.30% | ' |
Debt Instrument, Maturity Date, Description | '2014 | ' |
Repurchases and repayments of debt | 1,000,000,000 | ' |
Senior 2.1% Notes Due 2014 [Member] | ' | ' |
Principal amount | $900,000,000 | ' |
Interest rate | 2.10% | ' |
Debt Instrument, Maturity Date, Description | 'April 2014 | ' |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Trading securities | $2,168 | $3,956 |
Available-for-sale Securities | 279 | 389 |
Interest rate swap agreements | 101 | 110 |
Other [assets] | 75 | 81 |
Fair value, assets measured on recurring basis, total | 2,623 | 4,536 |
Derivative component of prepaid forward sale agreements and indexed debt instruments | 1,515 | 2,816 |
Contractual obligation | 761 | 747 |
Contingent consideration | 677 | 684 |
Other [liabilities] | 17 | 16 |
Fair value liabilities measured on recurring basis | 2,970 | 4,263 |
Fair Value, Inputs, Level 1 [Member] | ' | ' |
Trading securities | 2,168 | ' |
Available-for-sale Securities | 151 | ' |
Fair value, assets measured on recurring basis, total | 2,319 | ' |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Available-for-sale Securities | 117 | ' |
Interest rate swap agreements | 101 | ' |
Other [assets] | 74 | ' |
Fair value, assets measured on recurring basis, total | 292 | ' |
Derivative component of prepaid forward sale agreements and indexed debt instruments | 1,515 | ' |
Other [liabilities] | 17 | ' |
Fair value liabilities measured on recurring basis | 1,532 | ' |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Available-for-sale Securities | 11 | ' |
Other [assets] | 1 | ' |
Fair value, assets measured on recurring basis, total | 12 | ' |
Contractual obligation | 761 | ' |
Contingent consideration | 677 | ' |
Fair value liabilities measured on recurring basis | $1,438 | ' |
Fair_Value_Disclosure_Rollforw
Fair Value Disclosure Rollforward (Details) (USD $) | 3 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2014 |
Discount rate used to determine fair value, minimum | 5.00% |
Discount rate used to determine fair value, maximum | 13.00% |
NBCUniversal Media, LLC [Member] | ' |
Discount rate used to determine fair value, minimum | 12.00% |
Discount rate used to determine fair value, maximum | 13.00% |
NBCUniversal Enterprise [Member] | ' |
Fair Value Amount Of Redeemable Preferred Stock | $750 |
Contractual Obligation [Member] | ' |
Beginning balance | 747 |
Fair value adjustments | 27 |
Payments | -13 |
Ending balance | 761 |
Contractual Obligation [Member] | NBCUniversal Media, LLC [Member] | ' |
Beginning balance | 747 |
Fair value adjustments | 27 |
Payments | -13 |
Ending balance | 761 |
Contingent Consideration [Member] | ' |
Beginning balance | 684 |
Fair value adjustments | 7 |
Payments | -14 |
Ending balance | $677 |
ShareBased_Compensation_Narrat
Share-Based Compensation (Narrative) (Details) (USD $) | 3 Months Ended |
In Millions, except Per Share data, unless otherwise specified | Mar. 31, 2014 |
Number of stock options granted | 16.4 |
Number of restricted share units granted | 5.4 |
Weighted average fair value of stock options granted | $11.09 |
Weighed average fair value of restricted share units granted | $46.57 |
Stock Options [Member] | ' |
Unrecognized pretax compensation expense on nonvested awards | $428 |
Restricted Share Units [Member] | ' |
Unrecognized pretax compensation expense on nonvested awards | $575 |
ShareBased_Compensation_Recogn
Share-Based Compensation (Recognized Share-Based Compensation Expense) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Recognized share-based compensation expense | $90 | $76 |
NBCUniversal Media, LLC [Member] | ' | ' |
Recognized share-based compensation expense | 18 | 12 |
Stock Options [Member] | ' | ' |
Recognized share-based compensation expense | 36 | 32 |
Stock Options [Member] | NBCUniversal Media, LLC [Member] | ' | ' |
Recognized share-based compensation expense | 3 | 3 |
Restricted Share Units [Member] | ' | ' |
Recognized share-based compensation expense | 48 | 38 |
Restricted Share Units [Member] | NBCUniversal Media, LLC [Member] | ' | ' |
Recognized share-based compensation expense | 13 | 7 |
Employee Stock Purchase Plan [Member] | ' | ' |
Recognized share-based compensation expense | 6 | 6 |
Employee Stock Purchase Plan [Member] | NBCUniversal Media, LLC [Member] | ' | ' |
Recognized share-based compensation expense | $2 | $2 |
Supplemental_Financial_Informa2
Supplemental Financial Information (Receivables)(Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Receivables, gross | $6,645 | $6,972 |
Less: Allowance for returns and customer incentives | 285 | 375 |
Less: Allowance for doubtful accounts | 209 | 221 |
Receivables, net | 6,151 | 6,376 |
NBCUniversal Media, LLC [Member] | ' | ' |
Receivables, gross | 5,172 | 5,348 |
Less: Allowance for returns and customer incentives | 282 | 372 |
Less: Allowance for doubtful accounts | 64 | 65 |
Receivables, net | $4,826 | $4,911 |
Supplemental_Financial_Informa3
Supplemental Financial Information (Components of Accumulated Other Comprehensive Income (Loss)) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 |
In Millions, unless otherwise specified | |||
Unrealized gains (losses) on marketable securities | $47 | ' | $180 |
Deferred gains (losses) on cash flow hedges | -50 | ' | -57 |
Unrecognized gains (losses) on employee benefit obligations | 71 | ' | -109 |
Cumulative translation adjustments | -35 | ' | -25 |
Accumulated other comprehensive income (loss), net of deferred taxes | 33 | 56 | -11 |
NBCUniversal Media, LLC [Member] | ' | ' | ' |
Deferred gains (losses) on cash flow hedges | -6 | ' | ' |
Unrecognized gains (losses) on employee benefit obligations | 46 | ' | -50 |
Cumulative translation adjustments | -53 | ' | -37 |
Accumulated other comprehensive income (loss), net of deferred taxes | ($13) | ($16) | ($87) |
Supplemental_Financial_Informa4
Supplemental Financial Information (Net Cash Provided by Operating Activities)(Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Net income | $1,938 | $1,645 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 1,970 | 1,967 |
Amortization Of Film And Television Costs | 2,876 | 1,972 |
Share-based compensation | 119 | 102 |
Noncash interest expense (income), net | 42 | 42 |
Equity in net (income) losses of investees, net | -32 | -11 |
Cash received from investees | 18 | 23 |
Net (gain) loss on investment activity and other | -59 | -132 |
Deferred income taxes | -226 | -373 |
Change in current and noncurrent receivables, net | 195 | 465 |
Change in film and television costs | -2,722 | -1,577 |
Change in accounts payable and accrued expenses related to trade creditors | 82 | -281 |
Change in other operating assets and liabilities | 285 | 527 |
Net cash provided by (used in) operating activities | 4,486 | 4,369 |
NBCUniversal Media, LLC [Member] | ' | ' |
Net income | 741 | 411 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation and amortization | 365 | 344 |
Amortization Of Film And Television Costs | 2,862 | 1,956 |
Share-based compensation | ' | 7 |
Equity in net (income) losses of investees, net | -18 | -11 |
Cash received from investees | 12 | 15 |
Net (gain) loss on investment activity and other | 21 | 32 |
Deferred income taxes | 16 | -17 |
Change in current and noncurrent receivables, net | 55 | 204 |
Change in film and television costs | -2,714 | -1,567 |
Change in accounts payable and accrued expenses related to trade creditors | -117 | -283 |
Change in other operating assets and liabilities | -467 | 14 |
Net cash provided by (used in) operating activities | $756 | $1,105 |
Supplemental_Financial_Informa5
Supplemental Financial Information (Cash Payments for Interest and Income Taxes)(Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Interest | $623 | $617 |
Income taxes | 186 | 461 |
NBCUniversal Media, LLC [Member] | ' | ' |
Interest | 36 | 20 |
Income taxes | $53 | $55 |
Supplemental_Financial_Informa6
Supplemental Financial Information (Noncash Investing and Financing Activities)(Details) (USD $) | 3 Months Ended |
Mar. 31, 2014 | |
Dividends payable, amount | $585,000,000 |
Dividends payable, amount per share | $0.23 |
Capital expenditures incurred but not yet paid | 741,000,000 |
Fair Value Equity Securities Settlement | 1,500,000,000 |
NBCUniversal Media, LLC [Member] | ' |
Capital expenditures incurred but not yet paid | $204,000,000 |
Financial_Data_by_Business_Seg2
Financial Data by Business Segment (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Revenue | $17,408 | $15,310 |
Operating income (loss) before depreciation and amortization | 5,538 | 5,034 |
Depreciation and amortization | 1,970 | 1,967 |
Operating income (loss) | 3,568 | 3,067 |
Capital expenditures | 1,448 | 1,361 |
NBCUniversal Media, LLC [Member] | ' | ' |
Revenue | 6,876 | 5,340 |
Operating income (loss) before depreciation and amortization | 1,311 | 953 |
Depreciation and amortization | 365 | 344 |
Operating income (loss) | 946 | 609 |
Capital expenditures | 291 | 263 |
Cable Communications [Member] | ' | ' |
Revenue | 10,757 | 10,217 |
Operating income (loss) before depreciation and amortization | 4,400 | 4,219 |
Depreciation and amortization | 1,584 | 1,608 |
Operating income (loss) | 2,816 | 2,611 |
Capital expenditures | 1,145 | 1,094 |
Cable segment revenue types as percentage of total cable revenue | 100.00% | 100.00% |
Cable Networks [Member] | ' | ' |
Revenue | 2,505 | 2,225 |
Operating income (loss) before depreciation and amortization | 895 | 859 |
Depreciation and amortization | 189 | 184 |
Operating income (loss) | 706 | 675 |
Capital expenditures | 11 | 24 |
Cable Networks [Member] | NBCUniversal Media, LLC [Member] | ' | ' |
Revenue | 2,505 | 2,225 |
Operating income (loss) before depreciation and amortization | 895 | 859 |
Depreciation and amortization | 189 | 184 |
Operating income (loss) | 706 | 675 |
Capital expenditures | 11 | 24 |
Broadcast Television [Member] | ' | ' |
Revenue | 2,621 | 1,517 |
Operating income (loss) before depreciation and amortization | 122 | -35 |
Depreciation and amortization | 27 | 25 |
Operating income (loss) | 95 | -60 |
Capital expenditures | 11 | 8 |
Broadcast Television [Member] | NBCUniversal Media, LLC [Member] | ' | ' |
Revenue | 2,621 | 1,517 |
Operating income (loss) before depreciation and amortization | 122 | -35 |
Depreciation and amortization | 27 | 25 |
Operating income (loss) | 95 | -60 |
Capital expenditures | 11 | 8 |
Filmed Entertainment [Member] | ' | ' |
Revenue | 1,351 | 1,216 |
Operating income (loss) before depreciation and amortization | 288 | 69 |
Depreciation and amortization | 5 | 4 |
Operating income (loss) | 283 | 65 |
Capital expenditures | 1 | 2 |
Goodwill adjustment | 195 | ' |
Filmed Entertainment [Member] | NBCUniversal Media, LLC [Member] | ' | ' |
Revenue | 1,351 | 1,216 |
Operating income (loss) before depreciation and amortization | 288 | 69 |
Depreciation and amortization | 5 | 4 |
Operating income (loss) | 283 | 65 |
Capital expenditures | 1 | 2 |
Goodwill adjustment | 195 | ' |
Theme Parks [Member] | ' | ' |
Revenue | 487 | 462 |
Operating income (loss) before depreciation and amortization | 170 | 173 |
Depreciation and amortization | 69 | 72 |
Operating income (loss) | 101 | 101 |
Capital expenditures | 144 | 138 |
Theme Parks [Member] | NBCUniversal Media, LLC [Member] | ' | ' |
Revenue | 487 | 462 |
Operating income (loss) before depreciation and amortization | 170 | 173 |
Depreciation and amortization | 69 | 72 |
Operating income (loss) | 101 | 101 |
Capital expenditures | 144 | 138 |
Headquarters And Other [Member] | ' | ' |
Revenue | 2 | 9 |
Operating income (loss) before depreciation and amortization | -163 | -112 |
Depreciation and amortization | 75 | 59 |
Operating income (loss) | -238 | -171 |
Capital expenditures | 124 | 91 |
Headquarters And Other [Member] | NBCUniversal Media, LLC [Member] | ' | ' |
Revenue | 2 | 9 |
Operating income (loss) before depreciation and amortization | -163 | -112 |
Depreciation and amortization | 75 | 59 |
Operating income (loss) | -238 | -171 |
Capital expenditures | 124 | 91 |
NBCUniversal Eliminations [Member] | ' | ' |
Revenue | -90 | -89 |
Operating income (loss) before depreciation and amortization | -1 | -1 |
Operating income (loss) | -1 | -1 |
NBCUniversal Eliminations [Member] | NBCUniversal Media, LLC [Member] | ' | ' |
Revenue | -90 | -89 |
Operating income (loss) before depreciation and amortization | -1 | -1 |
Operating income (loss) | -1 | -1 |
NBCUniversal [Member] | ' | ' |
Revenue | 6,876 | 5,340 |
Operating income (loss) before depreciation and amortization | 1,311 | 953 |
Depreciation and amortization | 365 | 344 |
Operating income (loss) | 946 | 609 |
Capital expenditures | 291 | 263 |
Corporate and Other [Member] | ' | ' |
Revenue | 174 | 162 |
Operating income (loss) before depreciation and amortization | -153 | -83 |
Depreciation and amortization | 21 | 15 |
Operating income (loss) | -174 | -98 |
Capital expenditures | 12 | 4 |
Eliminations [Member] | ' | ' |
Revenue | -399 | -409 |
Operating income (loss) before depreciation and amortization | -20 | -55 |
Operating income (loss) | ($20) | ($55) |
Cable Communications Segment Revenue Percentage-Video [Member] | ' | ' |
Cable segment revenue types as percentage of total cable revenue | 48.10% | 50.00% |
Cable Communications Segment Revenue Percentage - High-speed Internet [Member] | ' | ' |
Cable segment revenue types as percentage of total cable revenue | 25.60% | 24.70% |
Cable Communications Segment Revenue Percentage- Voice [Member] | ' | ' |
Cable segment revenue types as percentage of total cable revenue | 8.50% | 8.80% |
Cable Communications Segment Revenue Percentage- Business Services [Member] | ' | ' |
Cable segment revenue types as percentage of total cable revenue | 8.50% | 7.20% |
Cable Communications Segment Revenue Percentage- Advertising [Member] | ' | ' |
Cable segment revenue types as percentage of total cable revenue | 4.80% | 4.80% |
Cable Communications Segment Revenue Percentage- Other [Member] | ' | ' |
Cable segment revenue types as percentage of total cable revenue | 4.50% | 4.50% |
Cable Communications Segment Revenue Percentage- Franchise and other regulatory fees [Member] | ' | ' |
Cable segment revenue types as percentage of total cable revenue | 2.80% | 2.90% |
Condensed_Consolidating_Financ2
Condensed Consolidating Financial Information (Narrative) (Details) (USD $) | Mar. 31, 2014 |
Comcast Holdings' ZONES due October 2029 [Member] | ' |
Principal amount of debt securities subject to guarantee | $185,000,000 |
Comcast Holdings' ZONES due November 2029 [Member] | ' |
Principal amount of debt securities not subject to guarantee | 62,000,000 |
NBCUniversal Enterprise Credit Facility | ' |
Credit facility borrowing capacity | 1,350,000,000 |
NBCUniversal Enterprise [Member] | ' |
Principal amount of debt securities subject to guarantee | $4,000,000,000 |
Condensed_Consolidating_Financ3
Condensed Consolidating Financial Information (Condensed Consolidating Balance Sheet) (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||||
Cash and cash equivalents | $3,054 | $1,718 | $1,839 | $10,951 |
Investments [Current] | 2,389 | 3,573 | ' | ' |
Receivables, net | 6,151 | 6,376 | ' | ' |
Programming rights | 863 | 928 | ' | ' |
Other current assets | 1,586 | 1,480 | ' | ' |
Total current assets | 14,043 | 14,075 | ' | ' |
Film and television costs | 5,058 | 4,994 | ' | ' |
Investments | 3,090 | 3,770 | ' | ' |
Property and equipment, net | 29,588 | 29,840 | ' | ' |
Franchise rights | 59,364 | 59,364 | ' | ' |
Goodwill | 27,103 | 27,098 | ' | ' |
Other intangible assets, net | 17,145 | 17,329 | ' | ' |
Other noncurrent assets, net | 2,382 | 2,343 | ' | ' |
Total assets | 157,773 | 158,813 | ' | ' |
Accounts payable and accrued expenses related to trade creditors | 5,534 | 5,528 | ' | ' |
Accrued participations and residuals | 1,256 | 1,239 | ' | ' |
Accrued expenses and other current liabilities [condensed] | 8,194 | 8,865 | ' | ' |
Current portion of long-term debt | 2,819 | 3,280 | ' | ' |
Total current liabilities | 17,803 | 18,912 | ' | ' |
Long-term debt, less current portion | 44,581 | 44,567 | ' | ' |
Deferred income taxes | 31,595 | 31,935 | ' | ' |
Other noncurrent liabilities | 11,109 | 11,384 | ' | ' |
Redeemable noncontrolling interests and redeemable subsidiary preferred stock | 1,053 | 957 | ' | ' |
Common stock | 30 | 30 | ' | ' |
Other shareholders' equity | 51,238 | 50,664 | ' | ' |
Total Parent Company equity | 51,268 | 50,694 | ' | ' |
Noncontrolling interests | 364 | 364 | ' | ' |
Total equity | 51,632 | 51,058 | 48,651 | 49,796 |
Total liabilities and equity | 157,773 | 158,813 | ' | ' |
Comcast [Member] | ' | ' | ' | ' |
Other current assets | 229 | 237 | ' | ' |
Total current assets | 229 | 237 | ' | ' |
Investments | 21 | 11 | ' | ' |
Investments in and amounts due from subsidiaries eliminated upon consolidation | 80,474 | 79,956 | ' | ' |
Property and equipment, net | 213 | 220 | ' | ' |
Other intangible assets, net | 10 | 11 | ' | ' |
Other noncurrent assets, net | 1,114 | 1,078 | ' | ' |
Total assets | 82,061 | 81,513 | ' | ' |
Accounts payable and accrued expenses related to trade creditors | 7 | 8 | ' | ' |
Accrued expenses and other current liabilities [condensed] | 1,430 | 1,371 | ' | ' |
Current portion of long-term debt | 900 | 2,351 | ' | ' |
Total current liabilities | 2,337 | 3,730 | ' | ' |
Long-term debt, less current portion | 26,455 | 25,170 | ' | ' |
Other noncurrent liabilities | 2,001 | 1,919 | ' | ' |
Common stock | 30 | 30 | ' | ' |
Other shareholders' equity | 51,238 | 50,664 | ' | ' |
Total Parent Company equity | 51,268 | 50,694 | ' | ' |
Total equity | 51,268 | 50,694 | ' | ' |
Total liabilities and equity | 82,061 | 81,513 | ' | ' |
Comcast Holdings [Member] | ' | ' | ' | ' |
Investments in and amounts due from subsidiaries eliminated upon consolidation | 99,606 | 97,429 | ' | ' |
Other noncurrent assets, net | 145 | 145 | ' | ' |
Total assets | 99,751 | 97,574 | ' | ' |
Accrued expenses and other current liabilities [condensed] | 266 | 266 | ' | ' |
Total current liabilities | 266 | 266 | ' | ' |
Long-term debt, less current portion | 130 | 132 | ' | ' |
Deferred income taxes | 758 | 777 | ' | ' |
Other shareholders' equity | 98,597 | 96,399 | ' | ' |
Total Parent Company equity | 98,597 | 96,399 | ' | ' |
Total equity | 98,597 | 96,399 | ' | ' |
Total liabilities and equity | 99,751 | 97,574 | ' | ' |
CCCL Parent [Member] | ' | ' | ' | ' |
Investments in and amounts due from subsidiaries eliminated upon consolidation | 105,083 | 102,673 | ' | ' |
Total assets | 105,083 | 102,673 | ' | ' |
Accrued expenses and other current liabilities [condensed] | 318 | 180 | ' | ' |
Total current liabilities | 318 | 180 | ' | ' |
Long-term debt, less current portion | 1,827 | 1,827 | ' | ' |
Other shareholders' equity | 102,938 | 100,666 | ' | ' |
Total Parent Company equity | 102,938 | 100,666 | ' | ' |
Total equity | 102,938 | 100,666 | ' | ' |
Total liabilities and equity | 105,083 | 102,673 | ' | ' |
Combined CCHMO Parents [Member] | ' | ' | ' | ' |
Investments in and amounts due from subsidiaries eliminated upon consolidation | 55,737 | 54,724 | ' | ' |
Total assets | 55,737 | 54,724 | ' | ' |
Accrued expenses and other current liabilities [condensed] | 21 | 47 | ' | ' |
Total current liabilities | 21 | 47 | ' | ' |
Long-term debt, less current portion | 1,504 | 1,505 | ' | ' |
Other shareholders' equity | 54,212 | 53,172 | ' | ' |
Total Parent Company equity | 54,212 | 53,172 | ' | ' |
Total equity | 54,212 | 53,172 | ' | ' |
Total liabilities and equity | 55,737 | 54,724 | ' | ' |
NBCUniversal Media Parent [Member] | ' | ' | ' | ' |
Cash and cash equivalents | 506 | 336 | 313 | 5,129 |
Other current assets | 29 | 35 | ' | ' |
Total current assets | 535 | 371 | ' | ' |
Investments | 378 | 374 | ' | ' |
Investments in and amounts due from subsidiaries eliminated upon consolidation | 41,042 | 40,644 | ' | ' |
Other noncurrent assets, net | 101 | 103 | ' | ' |
Total assets | 42,056 | 41,492 | ' | ' |
Accrued expenses and other current liabilities [condensed] | 398 | 323 | ' | ' |
Current portion of long-term debt | 902 | 903 | ' | ' |
Total current liabilities | 1,300 | 1,226 | ' | ' |
Long-term debt, less current portion | 10,232 | 10,236 | ' | ' |
Deferred income taxes | 58 | 59 | ' | ' |
Other noncurrent liabilities | 937 | 931 | ' | ' |
Other shareholders' equity | 29,529 | 29,040 | ' | ' |
Total Parent Company equity | 29,529 | 29,040 | ' | ' |
Total equity | 29,529 | 29,040 | ' | ' |
Total liabilities and equity | 42,056 | 41,492 | ' | ' |
Comcast Non-Guarantor Subsidiaries [Member] | ' | ' | ' | ' |
Cash and cash equivalents | 2,548 | 1,382 | 1,526 | 5,822 |
Investments [Current] | 2,389 | 3,573 | ' | ' |
Receivables, net | 6,151 | 6,376 | ' | ' |
Programming rights | 863 | 928 | ' | ' |
Other current assets | 1,328 | 1,208 | ' | ' |
Total current assets | 13,279 | 13,467 | ' | ' |
Film and television costs | 5,058 | 4,994 | ' | ' |
Investments | 2,691 | 3,385 | ' | ' |
Investments in and amounts due from subsidiaries eliminated upon consolidation | 87,497 | 85,164 | ' | ' |
Property and equipment, net | 29,375 | 29,620 | ' | ' |
Franchise rights | 59,364 | 59,364 | ' | ' |
Goodwill | 27,103 | 27,098 | ' | ' |
Other intangible assets, net | 17,135 | 17,318 | ' | ' |
Other noncurrent assets, net | 1,937 | 1,899 | ' | ' |
Total assets | 243,439 | 242,309 | ' | ' |
Accounts payable and accrued expenses related to trade creditors | 5,527 | 5,520 | ' | ' |
Accrued participations and residuals | 1,256 | 1,239 | ' | ' |
Accrued expenses and other current liabilities [condensed] | 5,761 | 6,678 | ' | ' |
Current portion of long-term debt | 1,017 | 26 | ' | ' |
Total current liabilities | 13,561 | 13,463 | ' | ' |
Long-term debt, less current portion | 4,433 | 5,697 | ' | ' |
Deferred income taxes | 31,553 | 31,840 | ' | ' |
Other noncurrent liabilities | 8,312 | 8,675 | ' | ' |
Redeemable noncontrolling interests and redeemable subsidiary preferred stock | 1,053 | 957 | ' | ' |
Other shareholders' equity | 184,163 | 181,313 | ' | ' |
Total Parent Company equity | 184,163 | 181,313 | ' | ' |
Noncontrolling interests | 364 | 364 | ' | ' |
Total equity | 184,527 | 181,677 | ' | ' |
Total liabilities and equity | 243,439 | 242,309 | ' | ' |
Elimination and Consolidation Adjustments [Member] | ' | ' | ' | ' |
Investments in and amounts due from subsidiaries eliminated upon consolidation | -469,439 | -460,590 | ' | ' |
Other noncurrent assets, net | -915 | -882 | ' | ' |
Total assets | -470,354 | -461,472 | ' | ' |
Deferred income taxes | -774 | -741 | ' | ' |
Other noncurrent liabilities | -141 | -141 | ' | ' |
Other shareholders' equity | -469,439 | -460,590 | ' | ' |
Total Parent Company equity | -469,439 | -460,590 | ' | ' |
Total equity | -469,439 | -460,590 | ' | ' |
Total liabilities and equity | ($470,354) | ($461,472) | ' | ' |
Condensed_Consolidating_Financ4
Condensed Consolidating Financial Information (Condensed Consolidating Statement of Income) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Service revenue | $17,408 | $15,310 |
Revenue | 17,408 | 15,310 |
Programming and production | 5,908 | 4,663 |
Other operating and administrative | 4,752 | 4,466 |
Advertising, marketing and promotion | 1,210 | 1,147 |
Depreciation | 1,569 | 1,566 |
Amortization | 401 | 401 |
Costs and expenses, total | 13,840 | 12,243 |
Operating income (loss) | 3,568 | 3,067 |
Interest expense | -642 | -653 |
Investment income (loss), net | 113 | 72 |
Equity in net income (losses) of investees, net | 32 | 11 |
Other income (expense), net | -15 | 73 |
Nonoperating income (Expense), Total | -512 | -497 |
Income (loss) before income taxes | 3,056 | 2,570 |
Income tax (expense) benefit | -1,118 | -925 |
Net income (loss) | 1,938 | 1,645 |
Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock | -67 | -208 |
Net income (loss) attributable to Parent | 1,871 | 1,437 |
Comprehensive income attributable to Parent | 1,848 | 1,437 |
Comcast [Member] | ' | ' |
Management fee revenue | 230 | 218 |
Revenue | 230 | 218 |
Other operating and administrative | 93 | 98 |
Depreciation | 7 | 7 |
Amortization | 1 | 1 |
Costs and expenses, total | 101 | 106 |
Operating income (loss) | 129 | 112 |
Interest expense | -387 | -376 |
Investment income (loss), net | 1 | 1 |
Equity in net income (losses) of investees, net | 2,038 | 1,608 |
Other income (expense), net | ' | -1 |
Nonoperating income (Expense), Total | 1,652 | 1,232 |
Income (loss) before income taxes | 1,781 | 1,344 |
Income tax (expense) benefit | 90 | 93 |
Net income (loss) | 1,871 | 1,437 |
Net income (loss) attributable to Parent | 1,871 | 1,437 |
Comprehensive income attributable to Parent | 1,848 | 1,437 |
Comcast Holdings [Member] | ' | ' |
Interest expense | -3 | -3 |
Investment income (loss), net | 3 | -3 |
Equity in net income (losses) of investees, net | 2,267 | 1,742 |
Nonoperating income (Expense), Total | 2,267 | 1,736 |
Income (loss) before income taxes | 2,267 | 1,736 |
Income tax (expense) benefit | ' | 2 |
Net income (loss) | 2,267 | 1,738 |
Net income (loss) attributable to Parent | 2,267 | 1,738 |
Comprehensive income attributable to Parent | 2,269 | 1,738 |
CCCL Parent [Member] | ' | ' |
Management fee revenue | 223 | 212 |
Revenue | 223 | 212 |
Other operating and administrative | 223 | 212 |
Costs and expenses, total | 223 | 212 |
Interest expense | -45 | -78 |
Equity in net income (losses) of investees, net | 2,165 | 1,763 |
Nonoperating income (Expense), Total | 2,120 | 1,685 |
Income (loss) before income taxes | 2,120 | 1,685 |
Income tax (expense) benefit | 16 | 27 |
Net income (loss) | 2,136 | 1,712 |
Net income (loss) attributable to Parent | 2,136 | 1,712 |
Comprehensive income attributable to Parent | 2,138 | 1,714 |
Combined CCHMO Parents [Member] | ' | ' |
Management fee revenue | 141 | 133 |
Revenue | 141 | 133 |
Other operating and administrative | 141 | 133 |
Costs and expenses, total | 141 | 133 |
Interest expense | -29 | -33 |
Equity in net income (losses) of investees, net | 1,511 | 1,262 |
Nonoperating income (Expense), Total | 1,482 | 1,229 |
Income (loss) before income taxes | 1,482 | 1,229 |
Income tax (expense) benefit | 10 | 11 |
Net income (loss) | 1,492 | 1,240 |
Net income (loss) attributable to Parent | 1,492 | 1,240 |
Comprehensive income attributable to Parent | 1,493 | 1,240 |
NBCUniversal Media Parent [Member] | ' | ' |
Other operating and administrative | 257 | 225 |
Costs and expenses, total | 257 | 225 |
Operating income (loss) | -257 | -225 |
Interest expense | -124 | -120 |
Investment income (loss), net | 1 | -4 |
Equity in net income (losses) of investees, net | 1,071 | 709 |
Other income (expense), net | -4 | ' |
Nonoperating income (Expense), Total | 944 | 585 |
Income (loss) before income taxes | 687 | 360 |
Income tax (expense) benefit | -5 | -5 |
Net income (loss) | 682 | 355 |
Net income (loss) attributable to Parent | 682 | 355 |
Comprehensive income attributable to Parent | 685 | 333 |
Comcast Non-Guarantor Subsidiaries [Member] | ' | ' |
Service revenue | 17,408 | 15,310 |
Revenue | 17,408 | 15,310 |
Programming and production | 5,908 | 4,663 |
Other operating and administrative | 4,632 | 4,361 |
Advertising, marketing and promotion | 1,210 | 1,147 |
Depreciation | 1,562 | 1,559 |
Amortization | 400 | 400 |
Costs and expenses, total | 13,712 | 12,130 |
Operating income (loss) | 3,696 | 3,180 |
Interest expense | -54 | -43 |
Investment income (loss), net | 108 | 78 |
Equity in net income (losses) of investees, net | 714 | 366 |
Other income (expense), net | -11 | 74 |
Nonoperating income (Expense), Total | 757 | 475 |
Income (loss) before income taxes | 4,453 | 3,655 |
Income tax (expense) benefit | -1,229 | -1,053 |
Net income (loss) | 3,224 | 2,602 |
Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock | -67 | -208 |
Net income (loss) attributable to Parent | 3,157 | 2,394 |
Comprehensive income attributable to Parent | 3,134 | 2,407 |
Elimination and Consolidation Adjustments [Member] | ' | ' |
Management fee revenue | -594 | -563 |
Revenue | -594 | -563 |
Other operating and administrative | -594 | -563 |
Costs and expenses, total | -594 | -563 |
Equity in net income (losses) of investees, net | -9,734 | -7,439 |
Nonoperating income (Expense), Total | -9,734 | -7,439 |
Income (loss) before income taxes | -9,734 | -7,439 |
Net income (loss) | -9,734 | -7,439 |
Net income (loss) attributable to Parent | -9,734 | -7,439 |
Comprehensive income attributable to Parent | ($9,719) | ($7,432) |
Condensed_Consolidating_Financ5
Condensed Consolidating Financial Information (Condensed Consolidating Statement of Cash Flows) (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2014 | Mar. 31, 2013 |
Operating Activities | ' | ' |
Net cash provided by (used in) operating activities | $4,486 | $4,369 |
Investing Activities | ' | ' |
Capital expenditures | -1,448 | -1,361 |
Cash paid for intangible assets | -217 | -182 |
Acquisitions and construction of real estate properties | ' | -1,311 |
Proceeds from sales of businesses and investments | 300 | 74 |
Purchases of investments | -37 | -88 |
Other | -103 | 105 |
Net cash provided by (used in) investing activities | -1,505 | -2,763 |
Financing Activities | ' | ' |
Proceeds from (repayments of) short-term borrowings, net | -364 | 491 |
Proceeds from borrowings | 2,187 | 2,933 |
Repurchases and repayments of debt | -2,260 | -1,811 |
Repurchases and retirements of common stock | -750 | -500 |
Dividends paid | -508 | -429 |
Issuances of common stock | 20 | 13 |
Purchase of NBCUniversal noncontrolling common equity interest | ' | -10,747 |
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock | -66 | -49 |
Settlement of Station Venture liability | ' | -602 |
Other | 96 | -17 |
Net cash provided by (used in) financing activities | -1,645 | -10,718 |
Increase (decrease) in cash and cash equivalents | 1,336 | -9,112 |
Cash and cash equivalents, beginning of period | 1,718 | 10,951 |
Cash and cash equivalents, end of period | 3,054 | 1,839 |
Comcast [Member] | ' | ' |
Operating Activities | ' | ' |
Net cash provided by (used in) operating activities | -96 | -112 |
Investing Activities | ' | ' |
Net transactions with affiliates | 1,370 | -2,480 |
Purchases of investments | -10 | ' |
Net cash provided by (used in) investing activities | 1,360 | -2,480 |
Financing Activities | ' | ' |
Proceeds from (repayments of) short-term borrowings, net | -1,350 | 500 |
Proceeds from borrowings | 2,184 | 2,933 |
Repurchases and repayments of debt | -1,000 | ' |
Repurchases and retirements of common stock | -750 | -500 |
Dividends paid | -508 | -429 |
Issuances of common stock | 20 | 13 |
Other | 140 | 75 |
Net cash provided by (used in) financing activities | -1,264 | 2,592 |
Comcast Holdings [Member] | ' | ' |
Operating Activities | ' | ' |
Net cash provided by (used in) operating activities | -2 | 3 |
Investing Activities | ' | ' |
Net transactions with affiliates | 2 | -6 |
Other | ' | 3 |
Net cash provided by (used in) investing activities | 2 | -3 |
CCCL Parent [Member] | ' | ' |
Operating Activities | ' | ' |
Net cash provided by (used in) operating activities | 110 | 49 |
Investing Activities | ' | ' |
Net transactions with affiliates | -110 | 1,665 |
Net cash provided by (used in) investing activities | -110 | 1,665 |
Financing Activities | ' | ' |
Repurchases and repayments of debt | ' | -1,714 |
Net cash provided by (used in) financing activities | ' | -1,714 |
Combined CCHMO Parents [Member] | ' | ' |
Operating Activities | ' | ' |
Net cash provided by (used in) operating activities | -47 | -53 |
Investing Activities | ' | ' |
Net transactions with affiliates | 47 | 53 |
Net cash provided by (used in) investing activities | 47 | 53 |
NBCUniversal Media Parent [Member] | ' | ' |
Operating Activities | ' | ' |
Net cash provided by (used in) operating activities | -306 | -227 |
Investing Activities | ' | ' |
Net transactions with affiliates | 483 | -1,251 |
Purchases of investments | -6 | -1 |
Other | ' | -10 |
Net cash provided by (used in) investing activities | 477 | -1,262 |
Financing Activities | ' | ' |
Repurchases and repayments of debt | -1 | -87 |
Purchase of NBCUniversal noncontrolling common equity interest | ' | -3,200 |
Other | ' | -40 |
Net cash provided by (used in) financing activities | -1 | -3,327 |
Increase (decrease) in cash and cash equivalents | 170 | -4,816 |
Cash and cash equivalents, beginning of period | 336 | 5,129 |
Cash and cash equivalents, end of period | 506 | 313 |
Comcast Non-Guarantor Subsidiaries [Member] | ' | ' |
Operating Activities | ' | ' |
Net cash provided by (used in) operating activities | 4,827 | 4,709 |
Investing Activities | ' | ' |
Net transactions with affiliates | -1,792 | 2,019 |
Capital expenditures | -1,448 | -1,361 |
Cash paid for intangible assets | -217 | -182 |
Acquisitions and construction of real estate properties | ' | -1,311 |
Proceeds from sales of businesses and investments | 300 | 74 |
Purchases of investments | -21 | -87 |
Other | -103 | 112 |
Net cash provided by (used in) investing activities | -3,281 | -736 |
Financing Activities | ' | ' |
Proceeds from (repayments of) short-term borrowings, net | 986 | -9 |
Proceeds from borrowings | 3 | ' |
Repurchases and repayments of debt | -1,259 | -10 |
Purchase of NBCUniversal noncontrolling common equity interest | ' | -7,547 |
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock | -66 | -49 |
Settlement of Station Venture liability | ' | -602 |
Other | -44 | -52 |
Net cash provided by (used in) financing activities | -380 | -8,269 |
Increase (decrease) in cash and cash equivalents | 1,166 | -4,296 |
Cash and cash equivalents, beginning of period | 1,382 | 5,822 |
Cash and cash equivalents, end of period | $2,548 | $1,526 |