Condensed Consolidating Financial Information | 9 Months Ended |
Sep. 30, 2014 |
Condensed Consolidating Financial Information [Abstract] | ' |
Condensed Consolidating Financial Information | ' |
Note 14: Condensed Consolidating Financial Information |
Comcast Corporation (“Comcast Parent”), our cable guarantors and NBCUniversal Media, LLC (referred to as “NBCUniversal Media Parent” in the tables below) have fully and unconditionally guaranteed each other’s debt securities. Comcast MO Group, CCH and Comcast MO of Delaware are collectively referred to as the “Combined CCHMO Parents.” |
Comcast Parent and the cable guarantors also fully and unconditionally guarantee NBCUniversal Enterprise’s $4 billion aggregate principal amount of senior notes, its $1.35 billion revolving credit facility due March 2018 and the associated commercial paper program. NBCUniversal Media Parent does not guarantee the NBCUniversal Enterprise senior notes, credit facility or commercial paper program. |
Comcast Parent provides an unconditional subordinated guarantee of the $185 million principal amount currently outstanding of Comcast Holdings’ ZONES due October 2029. Neither the cable guarantors nor NBCUniversal Media Parent guarantee the Comcast Holdings’ ZONES due October 2029. None of Comcast Parent, the cable guarantors nor NBCUniversal Media Parent guarantee the $62 million principal amount currently outstanding of Comcast Holdings’ ZONES due November 2029. |
Condensed Consolidating Balance Sheet |
30-Sep-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 | $ | - | $ | - | $ | - | $ | - | $ | 196 | $ | 4,351 | $ | - | $ | 4,547 |
| Investments | | - | | - | | - | | - | | 5 | | 526 | | - | | 531 |
| Receivables, net | | - | | - | | - | | - | | - | | 6,172 | | - | | 6,172 |
| Programming rights | | - | | - | | - | | - | | - | | 992 | | - | | 992 |
| Other current assets | | 222 | | - | | - | | - | | 43 | | 1,429 | | - | | 1,694 |
Total current assets | | 222 | | - | | - | | - | | 244 | | 13,470 | | - | | 13,936 |
Film and television costs | | - | | - | | - | | - | | - | | 5,560 | | - | | 5,560 |
Investments | | 21 | | - | | - | | - | | 373 | | 2,735 | | - | | 3,129 |
Investments in and amounts due from subsidiaries eliminated upon consolidation | | 84,503 | | 103,462 | | 110,327 | | 59,160 | | 41,038 | | 95,665 | | -494,155 | | - |
Property and equipment, net | | 202 | | - | | - | | - | | - | | 30,160 | | - | | 30,362 |
Franchise rights | | - | | - | | - | | - | | - | | 59,364 | | - | | 59,364 |
Goodwill | | - | | - | | - | | - | | - | | 27,323 | | - | | 27,323 |
Other intangible assets, net | | 9 | | - | | - | | - | | - | | 17,080 | | - | | 17,089 |
Other noncurrent assets, net | | 1,187 | | 148 | | - | | - | | 94 | | 2,059 | | -1,014 | | 2,474 |
Total assets | $ | 86,144 | $ | 103,610 | $ | 110,327 | $ | 59,160 | $ | 41,749 | $ | 253,416 | $ | -495,169 | $ | 159,237 |
| | | | | | | | | | | | | | | | | |
Liabilities and Equity | | | | | | | | | | | | | | | | |
| Accounts payable and accrued expenses related to trade creditors | $ | 11 | $ | - | $ | - | $ | - | $ | - | $ | 5,669 | $ | - | $ | 5,680 |
| Accrued participations and residuals | | - | | - | | - | | - | | - | | 1,444 | | - | | 1,444 |
| Accrued expenses and other current liabilities | | 1,374 | | 283 | | 347 | | 21 | | 415 | | 3,997 | | - | | 6,437 |
| Current portion of long-term debt | | 900 | | - | | - | | 679 | | 1,008 | | 936 | | - | | 3,523 |
Total current liabilities | | 2,285 | | 283 | | 347 | | 700 | | 1,423 | | 12,046 | | - | | 17,084 |
Long-term debt, less current portion | | 28,401 | | 131 | | 1,827 | | 822 | | 9,219 | | 4,427 | | - | | 44,827 |
Deferred income taxes | | - | | 719 | | - | | - | | 59 | | 32,319 | | -870 | | 32,227 |
Other noncurrent liabilities | | 2,160 | | - | | - | | - | | 945 | | 7,427 | | -144 | | 10,388 |
Redeemable noncontrolling interests and redeemable subsidiary preferred stock | | - | | - | | - | | - | | - | | 1,058 | | - | | 1,058 |
Equity: | | | | | | | | | | | | | | | | |
| Common stock | | 30 | | - | | - | | - | | - | | - | | - | | 30 |
| Other shareholders’ equity | | 53,268 | | 102,477 | | 108,153 | | 57,638 | | 30,103 | | 195,784 | | -494,155 | | 53,268 |
Total Comcast Corporation | | | | | | | | | | | | | | | | |
| shareholders’ equity | | 53,298 | | 102,477 | | 108,153 | | 57,638 | | 30,103 | | 195,784 | | -494,155 | | 53,298 |
Noncontrolling interests | | - | | - | | - | | - | | - | | 355 | | - | | 355 |
Total equity | | 53,298 | | 102,477 | | 108,153 | | 57,638 | | 30,103 | | 196,139 | | -494,155 | | 53,653 |
Total liabilities and equity | $ | 86,144 | $ | 103,610 | $ | 110,327 | $ | 59,160 | $ | 41,749 | $ | 253,416 | $ | -495,169 | $ | 159,237 |
Condensed Consolidating Balance Sheet |
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 September 30, 2013 |
| | | | | | | | | | | | | | | | | |
(in millions) | | Comcast Parent | | Comcast Holdings | | CCCL Parent | | Combined CCHMO Parents | | NBCUniversal Media Parent | | Non- Guarantor Subsidiaries | | Elimination and Consolidation Adjustments | | Consolidated Comcast Corporation |
Revenue: | | | | | | | | | | | | | | | | |
| Service revenue | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 16,151 | $ | - | $ | 16,151 |
| Management fee revenue | | 225 | | - | | 219 | | 137 | | - | | - | | -581 | | - |
| | | 225 | | - | | 219 | | 137 | | - | | 16,151 | | -581 | | 16,151 |
Costs and Expenses: | | | | | | | | | | | | | | | | |
| Programming and production | | - | | - | | - | | - | | - | | 4,787 | | - | | 4,787 |
| Other operating and administrative | | 92 | | - | | 219 | | 137 | | 211 | | 4,673 | | -581 | | 4,751 |
| Advertising, marketing and promotion | | - | | - | | - | | - | | - | | 1,283 | | - | | 1,283 |
| Depreciation | | 7 | | - | | - | | - | | - | | 1,513 | | - | | 1,520 |
| Amortization | | 1 | | - | | - | | - | | - | | 395 | | - | | 396 |
| | | 100 | | - | | 219 | | 137 | | 211 | | 12,651 | | -581 | | 12,737 |
Operating income (loss) | | 125 | | - | | - | | - | | -211 | | 3,500 | | - | | 3,414 |
Other Income (Expense): | | | | | | | | | | | | | | | | |
| Interest expense | | -382 | | -3 | | -45 | | -30 | | -123 | | -56 | | - | | -639 |
| Investment income (loss), net | | 1 | | -5 | | - | | - | | -3 | | 471 | | - | | 464 |
| Equity in net income (losses) of | | | | | | | | | | | | | | | | |
| investees, net | | 1,898 | | 1,787 | | 1,850 | | 1,371 | | 576 | | 106 | | -7,718 | | -130 |
| Other income (expense), net | | - | | - | | - | | - | | - | | -310 | | - | | -310 |
| | | 1,517 | | 1,779 | | 1,805 | | 1,341 | | 450 | | 211 | | -7,718 | | -615 |
Income (loss) before income taxes | | 1,642 | | 1,779 | | 1,805 | | 1,341 | | 239 | | 3,711 | | -7,718 | | 2,799 |
Income tax (expense) benefit | | 90 | | 3 | | 15 | | 11 | | -3 | | -1,137 | | - | | -1,021 |
Net income (loss) | | 1,732 | | 1,782 | | 1,820 | | 1,352 | | 236 | | 2,574 | | -7,718 | | 1,778 |
Net (income) loss attributable | | | | | | | | | | | | | | | | |
| to noncontrolling interests and redeemable subsidiary preferred stock | | - | | - | | - | | - | | - | | -46 | | - | | -46 |
Net income (loss) | | | | | | | | | | | | | | | | |
| attributable to Comcast Corporation | $ | 1,732 | $ | 1,782 | $ | 1,820 | $ | 1,352 | $ | 236 | $ | 2,528 | $ | -7,718 | $ | 1,732 |
Comprehensive | | | | | | | | | | | | | | | | |
| income (loss) attributable to Comcast Corporation | $ | 1,545 | $ | 1,828 | $ | 1,864 | $ | 1,415 | $ | 244 | $ | 2,327 | $ | -7,678 | $ | 1,545 |
Condensed Consolidating Statement of Income |
For the Nine Months Ended September 30, 2013 |
| | | | | | | | | | | | | | | | | |
(in millions) | | Comcast Parent | | Comcast Holdings | | CCCL Parent | | Combined CCHMO Parents | | NBCUniversal Media Parent | | Non- Guarantor Subsidiaries | | Elimination and Consolidation Adjustments | | Consolidated Comcast Corporation |
Revenue: | | | | | | | | | | | | | | | | |
| Service revenue | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 47,731 | $ | - | $ | 47,731 |
| Management fee revenue | | 668 | | - | | 650 | | 407 | | - | | - | | -1,725 | | - |
| | | 668 | | - | | 650 | | 407 | | - | | 47,731 | | -1,725 | | 47,731 |
Costs and Expenses: | | | | | | | | | | | | | | | | |
| Programming and production | | - | | - | | - | | - | | - | | 14,418 | | - | | 14,418 |
| Other operating and administrative | | 291 | | - | | 650 | | 407 | | 641 | | 13,523 | | -1,725 | | 13,787 |
| Advertising, marketing and promotion | | - | | - | | - | | - | | - | | 3,737 | | - | | 3,737 |
| Depreciation | | 22 | | - | | - | | - | | - | | 4,647 | | - | | 4,669 |
| Amortization | | 4 | | - | | - | | - | | - | | 1,200 | | - | | 1,204 |
| | | 317 | | - | | 650 | | 407 | | 641 | | 37,525 | | -1,725 | | 37,815 |
Operating income (loss) | | 351 | | - | | - | | - | | -641 | | 10,206 | | - | | 9,916 |
Other Income (Expense): | | | | | | | | | | | | | | | | |
| Interest expense | | -1,141 | | -8 | | -169 | | -96 | | -366 | | -148 | | - | | -1,928 |
| Investment income (loss), net | | 3 | | -2 | | - | | - | | -2 | | 550 | | - | | 549 |
| Equity in net income | | | | | | | | | | | | | | | | |
| (losses) of investees, net | | 5,416 | | 5,438 | | 5,448 | | 3,982 | | 2,236 | | 1,118 | | -23,734 | | -96 |
| Other income (expense), net | | -2 | | - | | 2 | | - | | - | | -280 | | - | | -280 |
| | | 4,276 | | 5,428 | | 5,281 | | 3,886 | | 1,868 | | 1,240 | | -23,734 | | -1,755 |
Income (loss) before income taxes | | 4,627 | | 5,428 | | 5,281 | | 3,886 | | 1,227 | | 11,446 | | -23,734 | | 8,161 |
Income tax (expense) benefit | | 276 | | 4 | | 58 | | 34 | | -13 | | -3,353 | | - | | -2,994 |
Net income (loss) | | 4,903 | | 5,432 | | 5,339 | | 3,920 | | 1,214 | | 8,093 | | -23,734 | | 5,167 |
Net (income) loss attributable | | | | | | | | | | | | | | | | |
| to noncontrolling interests and redeemable subsidiary preferred stock | | - | | - | | - | | - | | - | | -264 | | - | | -264 |
Net income (loss) attributable | | | | | | | | | | | | | | | | |
| to Comcast Corporation | $ | 4,903 | $ | 5,432 | $ | 5,339 | $ | 3,920 | $ | 1,214 | $ | 7,829 | $ | -23,734 | $ | 4,903 |
Comprehensive income (loss) | | | | | | | | | | | | | | | | |
| attributable to Comcast Corporation | $ | 4,804 | $ | 5,471 | $ | 5,386 | $ | 3,983 | $ | 1,176 | $ | 7,741 | $ | -23,757 | $ | 4,804 |
Condensed Consolidating Statement of Cash Flows |
For the Nine Months Ended September 30, 2014 |
(in millions) | | Comcast Parent | | Comcast Holdings | | CCCL Parent | | Combined CCHMO Parents | | NBCUniversal Media Parent | | Non-Guarantor Subsidiaries | | Elimination and Consolidation Adjustments | | Consolidated Comcast Corporation |
Net cash provided by (used in) operating activities | $ | -433 | $ | 11 | $ | 84 | $ | -88 | $ | -998 | $ | 13,726 | $ | - | $ | 12,302 |
Investing Activities | | | | | | | | | | | | | | | | |
| Net transactions with affiliates | | 2,349 | | -11 | | -84 | | 88 | | 1,761 | | -4,103 | | - | | - |
| Capital expenditures | | -3 | | - | | - | | - | | - | | -5,193 | | - | | -5,196 |
| Cash paid for intangible assets | | -2 | | - | | - | | - | | - | | -733 | | - | | -735 |
| Acquisitions and construction of real estate properties | | - | | - | | - | | - | | - | | -28 | | - | | -28 |
| Acquisitions, net of cash acquired | | - | | - | | - | | - | | - | | -477 | | - | | -477 |
| Proceeds from sales of businesses and investments | | - | | - | | - | | - | | 1 | | 621 | | - | | 622 |
| Return of capital from investees | | - | | - | | - | | - | | - | | 6 | | - | | 6 |
| Purchases of investments | | -10 | | - | | - | | - | | -6 | | -129 | | - | | -145 |
| Other | | - | | - | | - | | - | | 4 | | -131 | | - | | -127 |
Net cash provided by (used in) investing activities | | 2,334 | | -11 | | -84 | | 88 | | 1,760 | | -10,167 | | - | | -6,080 |
Financing Activities | | | | | | | | | | | | | | | | |
| Proceeds from (repayments of) short-term borrowings, net | | -1,350 | | - | | - | | - | | - | | 913 | | - | | -437 |
| Proceeds from borrowings | | 4,180 | | - | | - | | - | | - | | 2 | | - | | 4,182 |
| Repurchases and repayments of debt | | -1,000 | | - | | - | | - | | -902 | | -1,270 | | - | | -3,172 |
| Repurchases and retirements of common stock | | -2,250 | | - | | - | | - | | - | | - | | - | | -2,250 |
| Dividends paid | | -1,676 | | - | | - | | - | | - | | - | | - | | -1,676 |
| Issuances of common stock | | 33 | | - | | - | | - | | - | | - | | - | | 33 |
| Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock | | - | | - | | - | | - | | - | | -170 | | - | | -170 |
| Other | | 162 | | - | | - | | - | | - | | -65 | | - | | 97 |
Net cash provided by (used in) financing activities | | -1,901 | | - | | - | | - | | -902 | | -590 | | - | | -3,393 |
Increase (decrease) in cash and cash equivalents | | - | | - | | - | | - | | -140 | | 2,969 | | - | | 2,829 |
Cash and cash equivalents, beginning of period | | - | | - | | - | | - | | 336 | | 1,382 | | - | | 1,718 |
Cash and cash equivalents, end of period | $ | - | $ | - | $ | - | $ | - | $ | 196 | $ | 4,351 | $ | - | $ | 4,547 |
Condensed Consolidating Statement of Cash Flows |
For the Nine Months Ended September 30, 2013 |
(in millions) | | Comcast Parent | | Comcast Holdings | | CCCL Parent | | Combined CCHMO Parents | | NBCUniversal Media Parent | | Non-Guarantor Subsidiaries | | Elimination and Consolidation Adjustments | | Consolidated Comcast Corporation |
Net cash provided by (used in) operating activities | $ | -451 | $ | -7 | $ | -3 | $ | -99 | $ | -767 | $ | 13,006 | $ | - | $ | 11,679 |
Investing Activities | | | | | | | | | | | | | | | | |
| Net transactions with affiliates | | -116 | | 7 | | 2,100 | | 337 | | -900 | | -1,428 | | - | | - |
| Capital expenditures | | -3 | | - | | - | | - | | - | | -4,590 | | - | | -4,593 |
| Cash paid for intangible assets | | -1 | | - | | - | | - | | - | | -693 | | - | | -694 |
| Acquisitions and construction of real estate properties | | - | | - | | - | | - | | - | | -1,705 | | - | | -1,705 |
| Acquisitions, net of cash acquired | | - | | - | | - | | - | | - | | -42 | | - | | -42 |
| Proceeds from sales of businesses and investments | | - | | - | | - | | - | | - | | 655 | | - | | 655 |
| Return of capital from investees | | - | | - | | - | | - | | 128 | | 18 | | - | | 146 |
| Purchases of investments | | -8 | | - | | - | | - | | -2 | | -1,167 | | - | | -1,177 |
| Other | | - | | - | | - | | - | | -20 | | 103 | | - | | 83 |
Net cash provided by (used in) investing activities | | -128 | | 7 | | 2,100 | | 337 | | -794 | | -8,849 | | - | | -7,327 |
Financing Activities | | | | | | | | | | | | | | | | |
| Proceeds from (repayments of) short-term borrowings, net | | 400 | | - | | - | | - | | - | | -5 | | - | | 395 |
| Proceeds from borrowings | | 2,933 | | - | | - | | - | | - | | - | | - | | 2,933 |
| Repurchases and repayments of debt | | - | | - | | -2,097 | | -238 | | -88 | | -19 | | - | | -2,442 |
| Repurchases and retirements of common stock | | -1,500 | | - | | - | | - | | - | | - | | - | | -1,500 |
| Dividends paid | | -1,454 | | - | | - | | - | | - | | - | | - | | -1,454 |
| Issuances of common stock | | 35 | | - | | - | | - | | - | | - | | - | | 35 |
| Purchase of NBCUniversal noncontrolling common equity interest | | - | | - | | - | | - | | -3,200 | | -7,561 | | - | | -10,761 |
| Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock | | - | | - | | - | | - | | - | | -164 | | - | | -164 |
| Settlement of Station Venture liability | | - | | - | | - | | - | | - | | -602 | | - | | -602 |
| Other | | 165 | | - | | - | | - | | -40 | | -265 | | - | | -140 |
Net cash provided by (used in) financing activities | | 579 | | - | | -2,097 | | -238 | | -3,328 | | -8,616 | | - | | -13,700 |
Increase (decrease) in cash and cash equivalents | | - | | - | | - | | - | | -4,889 | | -4,459 | | - | | -9,348 |
Cash and cash equivalents, beginning of period | | - | | - | | - | | - | | 5,129 | | 5,822 | | - | | 10,951 |
Cash and cash equivalents, end of period | $ | - | $ | - | $ | - | $ | - | $ | 240 | $ | 1,363 | $ | - | $ | 1,603 |
Condensed Consolidating Statement of Income |
For the Three Months Ended September 30, 2014 |
| | | | | | | | | | | | | | | | | |
(in millions) | | Comcast Parent | | Comcast Holdings | | CCCL Parent | | Combined CCHMO Parents | | NBCUniversal Media Parent | | Non- Guarantor Subsidiaries | | Elimination and Consolidation Adjustments | | Consolidated Comcast Corporation |
Revenue: | | | | | | | | | | | | | | | | |
| Service revenue | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 16,791 | $ | - | $ | 16,791 |
| Management fee revenue | | 237 | | - | | 237 | | 146 | | - | | - | | -620 | | - |
| | | 237 | | - | | 237 | | 146 | | - | | 16,791 | | -620 | | 16,791 |
Costs and Expenses: | | | | | | | | | | | | | | | | |
| Programming and production | | - | | - | | - | | - | | - | | 4,772 | | - | | 4,772 |
| Other operating and administrative | | 197 | | - | | 237 | | 146 | | 203 | | 4,856 | | -620 | | 5,019 |
| Advertising, marketing and promotion | | - | | - | | - | | - | | - | | 1,296 | | - | | 1,296 |
| Depreciation | | 10 | | - | | - | | - | | - | | 1,529 | | - | | 1,539 |
| Amortization | | 1 | | - | | - | | - | | - | | 419 | | - | | 420 |
| | | 208 | | - | | 237 | | 146 | | 203 | | 12,872 | | -620 | | 13,046 |
Operating income (loss) | | 29 | | - | | - | | - | | -203 | | 3,919 | | - | | 3,745 |
Other Income (Expense): | | | | | | | | | | | | | | | | |
| Interest expense | | -412 | | -2 | | -43 | | -29 | | -111 | | -66 | | - | | -663 |
| Investment income (loss), net | | 1 | | 2 | | - | | - | | -14 | | 32 | | - | | 21 |
| Equity in net income | | | | | | | | | | | | | | | | |
| (losses) of investees, net | | 2,840 | | 2,556 | | 2,362 | | 1,801 | | 1,144 | | 835 | | -11,505 | | 33 |
| Other income (expense), net | | - | | - | | - | | - | | -3 | | -93 | | - | | -96 |
| | | 2,429 | | 2,556 | | 2,319 | | 1,772 | | 1,016 | | 708 | | -11,505 | | -705 |
Income (loss) before income taxes | | 2,458 | | 2,556 | | 2,319 | | 1,772 | | 813 | | 4,627 | | -11,505 | | 3,040 |
Income tax (expense) benefit | | 134 | | - | | 15 | | 10 | | -11 | | -555 | | - | | -407 |
Net income (loss) | | 2,592 | | 2,556 | | 2,334 | | 1,782 | | 802 | | 4,072 | | -11,505 | | 2,633 |
Net (income) loss attributable | | | | | | | | | | | | | | | | |
| to noncontrolling interests and redeemable subsidiary preferred stock | | - | | - | | - | | - | | - | | -41 | | - | | -41 |
Net income (loss) attributable | | | | | | | | | | | | | | | | |
| to Comcast Corporation | $ | 2,592 | $ | 2,556 | $ | 2,334 | $ | 1,782 | $ | 802 | $ | 4,031 | $ | -11,505 | $ | 2,592 |
Comprehensive income (loss) | | | | | | | | | | | | | | | | |
| attributable to Comcast Corporation | $ | 2,609 | $ | 2,551 | $ | 2,335 | $ | 1,781 | $ | 785 | $ | 4,031 | $ | -11,483 | $ | 2,609 |
Condensed Consolidating Statement of Income |
For the Nine Months Ended September 30, 2014 |
| | | | | | | | | | | | | | | | | |
(in millions) | | Comcast Parent | | Comcast Holdings | | CCCL Parent | | Combined CCHMO Parents | | NBCUniversal Media Parent | | Non- Guarantor Subsidiaries | | Elimination and Consolidation Adjustments | | Consolidated Comcast Corporation |
Revenue: | | | | | | | | | | | | | | | | |
| Service revenue | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 51,043 | $ | - | $ | 51,043 |
| Management fee revenue | | 704 | | - | | 691 | | 432 | | - | | - | | -1,827 | | - |
| | | 704 | | - | | 691 | | 432 | | - | | 51,043 | | -1,827 | | 51,043 |
Costs and Expenses: | | | | | | | | | | | | | | | | |
| Programming and production | | - | | - | | - | | - | | - | | 15,554 | | - | | 15,554 |
| Other operating and administrative | | 471 | | - | | 691 | | 432 | | 697 | | 14,231 | | -1,827 | | 14,695 |
| Advertising, marketing and promotion | | - | | - | | - | | - | | - | | 3,748 | | - | | 3,748 |
| Depreciation | | 25 | | - | | - | | - | | - | | 4,682 | | - | | 4,707 |
| Amortization | | 4 | | - | | - | | - | | - | | 1,218 | | - | | 1,222 |
| | | 500 | | - | | 691 | | 432 | | 697 | | 39,433 | | -1,827 | | 39,926 |
Operating income (loss) | | 204 | | - | | - | | - | | -697 | | 11,610 | | - | | 11,117 |
Other Income (Expense): | | | | | | | | | | | | | | | | |
| Interest expense | | -1,199 | | -8 | | -132 | | -88 | | -360 | | -166 | | - | | -1,953 |
| Investment income (loss), net | | 3 | | 5 | | - | | - | | -9 | | 255 | | - | | 254 |
| Equity in net income | | | | | | | | | | | | | | | | |
| (losses) of investees, net | | 7,100 | | 6,731 | | 6,301 | | 4,866 | | 3,386 | | 2,385 | | -30,682 | | 87 |
| Other income (expense), net | | - | | - | | - | | - | | - | | -150 | | - | | -150 |
| | | 5,904 | | 6,728 | | 6,169 | | 4,778 | | 3,017 | | 2,324 | | -30,682 | | -1,762 |
Income (loss) before income taxes | | 6,108 | | 6,728 | | 6,169 | | 4,778 | | 2,320 | | 13,934 | | -30,682 | | 9,355 |
Income tax (expense) benefit | | 347 | | 1 | | 46 | | 31 | | -22 | | -3,162 | | - | | -2,759 |
Net income (loss) | | 6,455 | | 6,729 | | 6,215 | | 4,809 | | 2,298 | | 10,772 | | -30,682 | | 6,596 |
Net (income) loss attributable | | | | | | | | | | | | | | | | |
| to noncontrolling interests and redeemable subsidiary preferred stock | | - | | - | | - | | - | | - | | -141 | | - | | -141 |
Net income (loss) attributable | | | | | | | | | | | | | | | | |
| to Comcast Corporation | $ | 6,455 | $ | 6,729 | $ | 6,215 | $ | 4,809 | $ | 2,298 | $ | 10,631 | $ | -30,682 | $ | 6,455 |
Comprehensive income (loss) | | | | | | | | | | | | | | | | |
| attributable to Comcast Corporation | $ | 6,402 | $ | 6,732 | $ | 6,217 | $ | 4,809 | $ | 2,302 | $ | 10,566 | $ | -30,626 | $ | 6,402 |