Document and Entity Information
Document and Entity Information - Jun. 30, 2015 - shares | Total |
Document Type | 10-Q |
Amendment Flag | false |
Document Period End Date | Jun. 30, 2015 |
Document Fiscal Year Focus | 2,015 |
Document Fiscal Period Focus | Q2 |
Trading Symbol | cmcsa |
Entity Registrant Name | COMCAST CORP |
Entity Central Index Key | 1,166,691 |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Large Accelerated Filer |
NBCUniversal Media, LLC [Member] | |
Entity Registrant Name | NBCUniversal Media, LLC |
Entity Central Index Key | 902,739 |
Entity Filer Category | Non-accelerated Filer |
Class A Common Stock [Member] | |
Entity Common Stock, Shares Outstanding | 2,114,785,430 |
Class A Special Common Stock [Member] | |
Entity Common Stock, Shares Outstanding | 368,198,461 |
Class B Common Stock [Member] | |
Entity Common Stock, Shares Outstanding | 9,444,375 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheet - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Current Assets: | ||
Cash and cash equivalents | $ 3,486 | $ 3,910 |
Investments [Current] | 144 | 602 |
Receivables, net | 7,016 | 6,321 |
Programming rights | 847 | 839 |
Other current assets | 1,826 | 1,859 |
Total current assets | 13,319 | 13,531 |
Film and television costs | 5,751 | 5,727 |
Investments | 2,999 | 3,135 |
Property and equipment, net | 31,572 | 30,953 |
Franchise rights | 59,364 | 59,364 |
Goodwill | 27,422 | 27,316 |
Other intangible assets, net | 16,802 | 16,980 |
Other noncurrent assets, net | 2,445 | 2,333 |
Total assets | 159,674 | 159,339 |
Current Liabilities: | ||
Accounts payable and accrued expenses related to trade creditors | 5,880 | 5,638 |
Accrued participations and residuals | 1,583 | 1,347 |
Deferred revenue | 1,122 | 915 |
Accrued expenses and other current liabilities | 5,093 | 5,293 |
Current portion of long-term debt | 3,887 | 4,217 |
Total current liabilities | 17,565 | 17,410 |
Long-term debt, less current portion | 44,636 | 44,017 |
Deferred income taxes | 33,198 | 32,959 |
Other noncurrent liabilities | $ 10,438 | $ 10,819 |
Commitments and contingencies | ||
Redeemable noncontrolling interests and redeemable subsidiary preferred stock | $ 1,108 | $ 1,066 |
Equity: | ||
Preferred stock - authorized, 20,000,000 shares; issued, zero | 0 | 0 |
Common stock | 29 | 30 |
Additional paid-in capital | 38,741 | 38,805 |
Retained earnings | 21,313 | 21,539 |
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) | (166) | (146) |
Total Comcast Corporation shareholders' equity | 52,400 | 52,711 |
Noncontrolling interests | 329 | 357 |
Total equity | 52,729 | 53,068 |
Total liabilities and equity | 159,674 | 159,339 |
NBCUniversal Media, LLC [Member] | ||
Current Assets: | ||
Cash and cash equivalents | 1,013 | 1,248 |
Receivables, net | 5,548 | 4,842 |
Programming rights | 831 | 825 |
Other current assets | 668 | 823 |
Total current assets | 8,060 | 7,738 |
Film and television costs | 5,744 | 5,714 |
Investments | 741 | 882 |
Property and equipment, net | 8,325 | 8,138 |
Goodwill | 14,950 | 14,908 |
Intangible assets, net | 13,820 | 14,187 |
Other noncurrent assets, net | 1,076 | 1,050 |
Total assets | 52,716 | 52,617 |
Current Liabilities: | ||
Accounts payable and accrued expenses related to trade creditors | 1,365 | 1,388 |
Accrued participations and residuals | 1,583 | 1,347 |
Program obligations | 567 | 687 |
Deferred revenue | 1,025 | 821 |
Accrued expenses and other current liabilities | 1,345 | 1,422 |
Note payable to Comcast | 597 | 865 |
Current portion of long-term debt | 1,021 | 1,023 |
Total current liabilities | 7,503 | 7,553 |
Long-term debt, less current portion | 8,222 | 9,226 |
Accrued participations, residuals and program obligations | 1,203 | 1,149 |
Other noncurrent liabilities | $ 3,828 | $ 3,722 |
Commitments and contingencies | ||
Redeemable noncontrolling interests | $ 337 | $ 330 |
Equity: | ||
Member's capital | 31,553 | 30,529 |
Accumulated other comprehensive income (loss) | (186) | (159) |
Total NBCUniversal member's equity | 31,367 | 30,370 |
Noncontrolling interests | 256 | 267 |
Total equity | 31,623 | 30,637 |
Total liabilities and equity | 52,716 | 52,617 |
Class A Common Stock [Member] | ||
Equity: | ||
Common stock | 25 | 25 |
Class B Common Stock [Member] | ||
Equity: | ||
Common stock | 0 | 0 |
Class A Special Common Stock [Member] | ||
Equity: | ||
Common stock | $ 4 | $ 5 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Preferred stock, authorized | 20,000,000 | 20,000,000 |
Preferred stock, issued | 0 | 0 |
Accumulated depreciation | $ 46,738 | $ 45,410 |
Accumulated amortization | 10,855 | 10,170 |
NBCUniversal Media, LLC [Member] | ||
Accumulated depreciation | 2,460 | 2,167 |
Accumulated amortization | $ 5,238 | $ 4,829 |
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 | 2,480,246,180 | 2,496,598,612 |
Common stock, outstanding | 2,114,785,430 | 2,131,137,862 |
Treasury stock common shares | 365,460,750 | 365,460,750 |
Class A 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 | 439,133,225 | 471,419,601 |
Common stock, outstanding | 368,198,461 | 400,484,837 |
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 Statemen
Condensed Consolidated Statement of Income - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Revenue | $ 18,743 | $ 16,844 | $ 36,596 | $ 34,252 |
Costs and Expenses: | ||||
Programming and production | 5,669 | 4,874 | 11,132 | 10,782 |
Other operating and administrative | 5,280 | 4,922 | 10,359 | 9,671 |
Advertising, marketing and promotion | 1,528 | 1,244 | 2,883 | 2,457 |
Depreciation | 1,674 | 1,599 | 3,308 | 3,168 |
Amortization | 487 | 401 | 919 | 802 |
Total costs and expenses | 14,638 | 13,040 | 28,601 | 26,880 |
Operating income | 4,105 | 3,804 | 7,995 | 7,372 |
Other Income (Expense): | ||||
Interest expense | (713) | (648) | (1,369) | (1,290) |
Investment income (loss), net | 17 | 120 | 50 | 233 |
Equity in net income (losses) of investees, net | (236) | 22 | (203) | 54 |
Other income (expense), net | 315 | (39) | 417 | (54) |
Nonoperating income (expense) | (617) | (545) | (1,105) | (1,057) |
Income before income taxes | 3,488 | 3,259 | 6,890 | 6,315 |
Income tax expense | (1,313) | (1,234) | (2,574) | (2,352) |
Net income | 2,175 | 2,025 | 4,316 | 3,963 |
Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock | (38) | (33) | (120) | (100) |
Net income attributable to Parent | $ 2,137 | $ 1,992 | $ 4,196 | $ 3,863 |
Basic earnings per common share attributable to Comcast Corporation shareholders | $ 0.85 | $ 0.77 | $ 1.67 | $ 1.49 |
Diluted earnings per common share attributable to Comcast Corporation shareholders | 0.84 | 0.76 | 1.65 | 1.47 |
Dividends declared per common share | $ 0.25 | $ 0.225 | $ 0.5 | $ 0.45 |
NBCUniversal Media, LLC [Member] | ||||
Revenue | $ 7,230 | $ 6,016 | $ 13,834 | $ 12,892 |
Costs and Expenses: | ||||
Programming and production | 3,339 | 2,742 | 6,510 | 6,484 |
Other operating and administrative | 1,438 | 1,340 | 2,772 | 2,614 |
Advertising, marketing and promotion | 741 | 500 | 1,346 | 1,049 |
Depreciation | 170 | 176 | 330 | 338 |
Amortization | 235 | 194 | 439 | 397 |
Total costs and expenses | 5,923 | 4,952 | 11,397 | 10,882 |
Operating income | 1,307 | 1,064 | 2,437 | 2,010 |
Other Income (Expense): | ||||
Interest expense | (121) | (127) | (245) | (256) |
Investment income (loss), net | (2) | 9 | (4) | 15 |
Equity in net income (losses) of investees, net | (247) | 11 | (227) | 29 |
Other income (expense), net | 70 | (41) | 12 | (77) |
Nonoperating income (expense) | (300) | (148) | (464) | (289) |
Income before income taxes | 1,007 | 916 | 1,973 | 1,721 |
Income tax expense | (63) | (74) | (111) | (138) |
Net income | 944 | 842 | 1,862 | 1,583 |
Net income attributable to Parent | $ 912 | $ 814 | $ 1,764 | $ 1,496 |
Condensed Consolidated Stateme5
Condensed Consolidated Statement of Income (NBCUniversal) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Revenue | $ 18,743 | $ 16,844 | $ 36,596 | $ 34,252 |
Costs and Expenses: | ||||
Programming and production | 5,669 | 4,874 | 11,132 | 10,782 |
Other operating and administrative | 5,280 | 4,922 | 10,359 | 9,671 |
Advertising, marketing and promotion | 1,528 | 1,244 | 2,883 | 2,457 |
Depreciation | 1,674 | 1,599 | 3,308 | 3,168 |
Amortization | 487 | 401 | 919 | 802 |
Total costs and expenses | 14,638 | 13,040 | 28,601 | 26,880 |
Operating income | 4,105 | 3,804 | 7,995 | 7,372 |
Other Income (Expense): | ||||
Interest expense | (713) | (648) | (1,369) | (1,290) |
Investment income (loss), net | 17 | 120 | 50 | 233 |
Equity in net income (losses) of investees, net | (236) | 22 | (203) | 54 |
Other income (expense), net | 315 | (39) | 417 | (54) |
Nonoperating income (expense) | (617) | (545) | (1,105) | (1,057) |
Income before income taxes | 3,488 | 3,259 | 6,890 | 6,315 |
Income tax expense | (1,313) | (1,234) | (2,574) | (2,352) |
Net income | 2,175 | 2,025 | 4,316 | 3,963 |
Net income attributable to Parent | 2,137 | 1,992 | 4,196 | 3,863 |
NBCUniversal Media, LLC [Member] | ||||
Revenue | 7,230 | 6,016 | 13,834 | 12,892 |
Costs and Expenses: | ||||
Programming and production | 3,339 | 2,742 | 6,510 | 6,484 |
Other operating and administrative | 1,438 | 1,340 | 2,772 | 2,614 |
Advertising, marketing and promotion | 741 | 500 | 1,346 | 1,049 |
Depreciation | 170 | 176 | 330 | 338 |
Amortization | 235 | 194 | 439 | 397 |
Total costs and expenses | 5,923 | 4,952 | 11,397 | 10,882 |
Operating income | 1,307 | 1,064 | 2,437 | 2,010 |
Other Income (Expense): | ||||
Interest expense | (121) | (127) | (245) | (256) |
Investment income (loss), net | (2) | 9 | (4) | 15 |
Equity in net income (losses) of investees, net | (247) | 11 | (227) | 29 |
Other income (expense), net | 70 | (41) | 12 | (77) |
Nonoperating income (expense) | (300) | (148) | (464) | (289) |
Income before income taxes | 1,007 | 916 | 1,973 | 1,721 |
Income tax expense | (63) | (74) | (111) | (138) |
Net income | 944 | 842 | 1,862 | 1,583 |
Net (income) loss attributable to noncontrolling interests | (32) | (28) | (98) | (87) |
Net income attributable to Parent | $ 912 | $ 814 | $ 1,764 | $ 1,496 |
Condensed Consolidated Stateme6
Condensed Consolidated Statement of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Net income | $ 2,175 | $ 2,025 | $ 4,316 | $ 3,963 |
Unrealized gains (losses) on marketable securities, net of deferred taxes | 0 | 4 | 0 | 34 |
Deferred gains (losses) on cash flow hedges, net of deferred taxes | 22 | 4 | (17) | 2 |
Amounts reclassified to net income: | ||||
Realized (gains) losses on marketable securities, net of deferred taxes | 0 | (47) | 0 | (97) |
Realized (gains) losses on cash flow hedges, net of deferred taxes | (27) | (17) | 10 | (20) |
Employee benefit obligations, net of deferred taxes | 0 | (1) | 0 | (1) |
Currency translation adjustments, net of deferred taxes | 27 | 10 | (13) | 12 |
Comprehensive income | 2,197 | 1,978 | 4,296 | 3,893 |
Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock | (38) | (33) | (120) | (100) |
Comprehensive income attributable to Parent | 2,159 | 1,945 | 4,176 | 3,793 |
NBCUniversal Media, LLC [Member] | ||||
Net income | 944 | 842 | 1,862 | 1,583 |
Unrealized gains (losses) on marketable securities, net of deferred taxes | 0 | 5 | 0 | 5 |
Deferred gains (losses) on cash flow hedges, net of deferred taxes | (18) | (2) | (6) | (2) |
Amounts reclassified to net income: | ||||
Currency translation adjustments, net of deferred taxes | 42 | 15 | (21) | 18 |
Comprehensive income | 968 | 860 | 1,835 | 1,604 |
Net (income) loss attributable to noncontrolling interests | (32) | (28) | (98) | (87) |
Comprehensive income attributable to Parent | $ 936 | $ 832 | $ 1,737 | $ 1,517 |
Condensed Consolidated Stateme7
Condensed Consolidated Statement of Comprehensive Income (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Unrealized gains (losses) on marketable securities, deferred taxes | $ 0 | $ (2) | $ 0 | $ (19) |
Deferred gains (losses) on cash flow hedges, deferred taxes | (13) | (2) | 10 | (1) |
Realized (gains) losses on marketable securities, deferred taxes | 0 | 28 | 0 | 58 |
Realized (gains) losses on cash flow hedges, deferred taxes | 16 | 10 | (6) | 12 |
Employee benefit obligations, deferred taxes | 0 | 0 | 0 | 0 |
Currency translation adjustments, deferred taxes | $ (15) | $ (6) | $ 8 | $ (7) |
Condensed Consolidated Stateme8
Condensed Consolidated Statement of Cash Flows - USD ($) $ in Millions | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Operating Activities | ||
Net cash provided by operating activities | $ 8,834 | $ 7,547 |
Investing Activities | ||
Capital expenditures | (3,697) | (3,246) |
Cash paid for intangible assets | (600) | (477) |
Acquisitions and construction of real estate properties | (65) | (10) |
Acquisitions, net of cash acquired | (179) | (406) |
Proceeds from sales of businesses and investments | 395 | 481 |
Purchases of investments | (272) | (77) |
Other | 182 | (153) |
Net cash provided by (used in) investing activities | (4,236) | (3,888) |
Financing Activities | ||
Proceeds from (repayments of) short-term borrowings, net | (137) | (343) |
Proceeds from borrowings | 3,996 | 2,187 |
Repurchases and repayments of debt | (3,666) | (3,163) |
Repurchases and retirements of common stock | (3,585) | (1,500) |
Dividends paid | (1,200) | (1,092) |
Issuances of common stock | 32 | 29 |
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock | (114) | (117) |
Other | (348) | 151 |
Net cash provided by (used in) financing activities | (5,022) | (3,848) |
Increase (decrease) in cash and cash equivalents | (424) | (189) |
Cash and cash equivalents, beginning of period | 3,910 | 1,718 |
Cash and cash equivalents, end of period | 3,486 | 1,529 |
NBCUniversal Media, LLC [Member] | ||
Operating Activities | ||
Net cash provided by operating activities | 2,621 | 1,789 |
Investing Activities | ||
Capital expenditures | (540) | (589) |
Cash paid for intangible assets | (64) | (58) |
Proceeds from sales of businesses and investments | 217 | 1 |
Purchases of investments | (209) | (10) |
Other | 126 | (187) |
Net cash provided by (used in) investing activities | (470) | (843) |
Financing Activities | ||
Proceeds from (repayments of) borrowings from Comcast, net | (299) | 733 |
Repurchases and repayments of debt | (1,003) | (903) |
Distributions to noncontrolling interests | (93) | (95) |
Distributions to member | (991) | (817) |
Other | 0 | (4) |
Net cash provided by (used in) financing activities | (2,386) | (1,086) |
Increase (decrease) in cash and cash equivalents | (235) | (140) |
Cash and cash equivalents, beginning of period | 1,248 | 967 |
Cash and cash equivalents, end of period | $ 1,013 | $ 827 |
Condensed Consolidated Stateme9
Condensed Consolidated Statement of Changes in Equity - USD ($) $ in Millions | Total | NBCUniversal Media, LLC [Member] | Redeemable Noncontrolling Interests And Redeemable Subsidiary Preferred Stock [Member] | Class A Common Stock [Member] | Class A 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]NBCUniversal Media, LLC [Member] | Noncontrolling Interests [Member] | Noncontrolling Interests [Member]NBCUniversal Media, LLC [Member] | Redeemable Noncontrolling Interest [Member]NBCUniversal Media, LLC [Member] | Member's Capital [Member]NBCUniversal Media, LLC [Member] |
Beginning Balance at Dec. 31, 2013 | $ 51,058 | $ 957 | $ 25 | $ 5 | $ 0 | $ 38,890 | $ 19,235 | $ (7,517) | $ 56 | $ 364 | |||||
Beginning balance at Dec. 31, 2013 | $ 29,327 | $ (16) | $ 287 | $ 231 | $ 29,056 | ||||||||||
Stock compensation plans | 99 | 442 | (343) | ||||||||||||
Repurchases and retirements of common stock | (1,500) | (345) | (1,155) | ||||||||||||
Employee stock purchase plans | 60 | 60 | |||||||||||||
Dividends declared | (1,168) | (817) | (1,168) | (817) | |||||||||||
Other comprehensive income (loss) | (70) | 21 | (70) | 21 | |||||||||||
Issuance of subsidiary shares to noncontrolling interests | 13 | 85 | 13 | 85 | |||||||||||
Contributions from (distributions to) noncontrolling interests, net | (74) | (82) | (8) | (74) | (82) | (13) | |||||||||
Other | (14) | 3 | (14) | (7) | (7) | 4 | (1) | ||||||||
Net income (loss) | 3,928 | 1,567 | 35 | 3,863 | 65 | 71 | 16 | 1,496 | |||||||
Ending balance at Jun. 30, 2014 | 30,019 | 5 | 280 | 319 | 29,734 | ||||||||||
Ending Balance at Jun. 30, 2014 | 52,332 | 1,055 | 25 | 5 | 0 | 39,040 | 20,432 | (7,517) | (14) | 361 | |||||
Beginning Balance at Dec. 31, 2014 | 53,068 | 1,066 | 25 | 5 | 0 | 38,805 | 21,539 | (7,517) | (146) | 357 | |||||
Beginning balance at Dec. 31, 2014 | 30,637 | (159) | 267 | 330 | 30,529 | ||||||||||
Stock compensation plans | 128 | 436 | (308) | ||||||||||||
Repurchases and retirements of common stock | (3,585) | (1) | (724) | (2,860) | |||||||||||
Employee stock purchase plans | 71 | 71 | |||||||||||||
Dividends declared | (1,254) | (991) | (1,254) | (991) | |||||||||||
Contribution from member | 252 | 252 | |||||||||||||
Other comprehensive income (loss) | (20) | (27) | (20) | (27) | |||||||||||
Contributions from (distributions to) noncontrolling interests, net | (73) | (79) | 4 | (73) | (79) | (14) | |||||||||
Other | 118 | (10) | (2) | 153 | (35) | (9) | (1) | ||||||||
Net income (loss) | 4,276 | 1,841 | 40 | 4,196 | 80 | 77 | 21 | 1,764 | |||||||
Ending balance at Jun. 30, 2015 | $ 31,623 | $ (186) | $ 256 | $ 337 | $ 31,553 | ||||||||||
Ending Balance at Jun. 30, 2015 | $ 52,729 | $ 1,108 | $ 25 | $ 4 | $ 0 | $ 38,741 | $ 21,313 | $ (7,517) | $ (166) | $ 329 |
Condensed Consolidated Financia
Condensed Consolidated Financial Statements | 6 Months Ended |
Jun. 30, 2015 | |
Condensed Consolidated Financial Statements | Note 1 : Condensed Consolidated Financial Statements Basis of Presentation We have prepared these unaudited condensed consolidated financial statements based on 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, in cluding 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 au dited financial statements but does not include all disclosures required by generally accepted accounting principles in the United States (“GAAP”). For a more complete discussion of our accounting policies and certain other information, refer to our consol idated financial statements included in our 2014 Annual Report on Form 10-K. Reclassifications Reclassifications have been made to our condensed consolidated financial statements for the prior year period s to conform to classifications used in 2015. |
NBCUniversal Media, LLC [Member] | |
Condensed Consolidated Financial Statements | Note 1 : Condensed Consolidated Financial Statements Basis of Presentation Unless indicated otherwise, throughout these notes to the condensed consolidated financial statements, we refer to NBCUniversal and its consolidated subsidiaries as “we,” “us” and “our.” We have prepared these unaudited condensed consolidated financial statements based on 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 result s 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 (“GAAP”). For a more complete discussion of our accounting policies and certain other information, refer to our consolidated financial statements included in our 2014 Annual Report on Form 1 0-K. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2015 | |
Recent Accounting Pronouncements | Note 2 : Recent Accounting Pronouncements Revenue Recognition In May 2014, the Financial Accounting Standards Board (“FASB”) and the International Accounting Standards Board updated the accounting guidance related to revenue recognition. The updated accounting guidance provides a single, contract-based revenue recognition model to help improve financial reporting by providing clearer guidance on when an entity should recognize revenue, and by reducing the number of standards to which an entity has to refer. In July 2015, FASB voted to defer the effective date by one year to December 15, 2017 for annual reporting periods beginning after that date. The updated accounting guidance provides companies with alternative methods of adoption. We are cur rently in the process of determining the impact that the updated accounting guidance will have on our consolidated financial statements and our method of adoption. Debt Issuance Costs In April 2015, FASB updated t he accounting guidance related to the balan ce sheet presentation of debt issuance costs. The updated accounting guidance requires that debt issuance costs be presented as a direct deduction from the associated debt liability . The updated accounting guidance will be effective for us on January 1, 20 16, and early adoption is permitted. The updated accounting guidance will be applied retrospectively to all prior periods presented. T he updated accounting guidance will not have a material impact on our consolidated balance she et . |
NBCUniversal Media, LLC [Member] | |
Recent Accounting Pronouncements | Note 2 : Recent Accounting Pronouncements Revenue Recognition In May 2014, the Financial Accounting Standards Board (“FASB”) and the International Accounting Standards Board updated the accounting guidance related to revenue recognition. The updated accounting guidance provides a single, contract-based revenue recognition model to help improve financial reporting by providing clearer guidance on when an entity should recognize revenue, and by reducing the number of standards to which an entity has to refer. In July 2015, FASB voted to defer the effective date by one year to December 15, 2017 for annual reporting periods beginning after that date. The updated accounting guidance provides companies with alternative methods of adoption. We are cur rently in the process of determining the impact that the updated accounting guidance will have on our consolidated financial statements and our method of adoption. Debt Issuance Costs In April 2015, FASB updated the accounting guidance related to the balan ce sheet presentation of debt issuance costs. The updated accounting guidance requires that debt issuance costs be presented as a direct deduction from the associated debt liability. The updated accounting guidance will be effective for us on January 1, 20 16, and early adoption is permitted. The updated accounting guidance will be applied retrospectively to all prior periods presented. The updated accounting guidance will not have a material impact on our consolidated balance she et. |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share | |
Earnings Per Share | Note 3: Earnings Per Share Computation of Diluted EPS Three Months Ended June 30 2015 2014 (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 $ 2,137 2,500 $ 0.85 $ 1,992 2,594 $ 0.77 Effect of dilutive securities: Assumed exercise or issuance of shares relating to stock plans 31 34 Diluted EPS attributable to Comcast Corporation shareholders $ 2,137 2,531 $ 0.84 $ 1,992 2,628 $ 0.76 Six Months Ended June 30 2015 2014 (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 $ 4,196 2,510 $ 1.67 $ 3,863 2,598 $ 1.49 Effect of dilutive securities: Assumed exercise or issuance of shares relating to stock plans 34 38 Diluted EPS attributable to Comcast Corporation shareholders $ 4,196 2,544 $ 1.65 $ 3,863 2,636 $ 1.47 Diluted earnings per common share attributable to Comcast Corporation shareholders (“diluted EPS”) considers the impact of potentially dilutive securities using the treasury stock method. Our potentially dilutive securities include potential common shares related to our stock options and our restricted share units (“RSUs”). The amount of potential common shares related to our share-based compensation plans that were excluded from diluted EPS because their effect would have been antidilutive was not materia l for the three and six months ended June 30, 2015 and 2014 . |
Significant Transactions
Significant Transactions | 6 Months Ended |
Jun. 30, 2015 | |
Significant Transactions | Note 4: Significant Transactions Time Warner Cable Merger and Related Divestiture Transactions On April 24, 2015, we and Time Warner Cable Inc. terminated our planned merger , and we terminated our related agreem ent with Charter Communications, Inc. to spin-off, exchange and sell certain cable systems. In connection with these proposed transactions, we incurred incremental transaction- related expenses of $ 99 million and $ 198 million for the three and six months ended June 30, 2015 , respectively, and $ 44 million and $ 61 million for the three and six months ended June 30, 2014 , respectively . The transaction-related expenses are reflected primarily in other operating and administrat ive expenses, with $ 20 million recorded in depreciation and amortization expenses associated with the write-off of certain capit a lized costs in the three and six months ended June 30, 2015 . |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2015 | |
NBCUniversal Media, LLC [Member] | |
Related Party Transactions | Note 3: Related Party Transactions In the ordinary course of our business, we enter into transactions with 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. Comcast is also the counterparty to one of our contractual obligations. As of June 30, 2015 , the carrying value of the liability associated wi th 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 June 30, December 31, (in millions) 2015 2014 Transactions with Comcast and Consolidated Subsidiaries Receivables, net $ 236 $ 229 Accounts payable and accrued expenses related to trade creditors $ 34 $ 47 Accrued expenses and other current liabilities $ 6 $ 8 Note payable to Comcast $ 597 $ 865 Other noncurrent liabilities $ 411 $ 383 Condensed Consolidated Statement of Income Three Months Ended Six Months Ended June 30 June 30 (in millions) 2015 2014 2015 2014 Transactions with Comcast and Consolidated Subsidiaries Revenue $ 330 $ 331 $ 672 $ 685 Operating costs and expenses $ (43) $ (40) $ (93) $ (64) Other income (expense) $ (9) $ (13) $ (18) $ (22) |
Film and Television Costs
Film and Television Costs | 6 Months Ended |
Jun. 30, 2015 | |
Film And Television Costs Disclosure [Text Block] | Note 5: Film and Television Costs June 30, December 31, (in millions) 2015 2014 Film Costs: Released, less amortization $ 1,499 $ 1,371 Completed, not released 138 71 In production and in development 856 1,189 2,493 2,631 Television Costs: Released, less amortization 1,407 1,273 In production and in development 624 505 2,031 1,778 Programming rights, less amortization 2,074 2,157 6,598 6,566 Less: Current portion of programming rights 847 839 Film and television costs $ 5,751 $ 5,727 |
NBCUniversal Media, LLC [Member] | |
Film And Television Costs Disclosure [Text Block] | Note 4 : Film and Television Costs June 30, December 31, (in millions) 2015 2014 Film Costs: Released, less amortization $ 1,499 $ 1,371 Completed, not released 138 71 In production and in development 856 1,189 2,493 2,631 Television Costs: Released, less amortization 1,407 1,273 In production and in development 624 505 2,031 1,778 Programming rights, less amortization 2,051 2,130 6,575 6,539 Less: Current portion of programming rights 831 825 Film and television costs $ 5,744 $ 5,714 |
Investments
Investments | 6 Months Ended |
Jun. 30, 2015 | |
Investments | Note 6: Investments June 30, December 31, (in millions) 2015 2014 Fair Value Method $ 181 $ 662 Equity Method: The Weather Channel 86 335 Hulu 267 167 Other 491 517 844 1,019 Cost Method: AirTouch 1,575 1,568 Other 543 488 2,118 2,056 Total investments 3,143 3,737 Less: Current investments 144 602 Noncurrent investments $ 2,999 $ 3,135 Investment Income (Loss), Net Three Months Ended Six Months Ended June 30 June 30 (in millions) 2015 2014 2015 2014 Gains on sales and exchanges of investments, net $ 4 $ 90 $ 4 $ 173 Investment impairment losses (16) (19) (31) (24) Unrealized gains (losses) on securities underlying prepaid forward sale agreements - 85 42 (28) Mark to market adjustments on derivative component of prepaid forward sale agreements and indexed debt instruments 1 (85) (37) 32 Interest and dividend income 28 28 56 56 Other, net - 21 16 24 Investment income (loss), net $ 17 $ 120 $ 50 $ 233 Fair Value Method During the six months ended June 30, 2015 , we settled $ 517 million of our obligations under prepaid forward sale agreements by delivering equity securities. As of June 30, 2015 , we have no remaining liabilities related to obligations under prepaid forward sale agreements . Equity Method During the three months ended June 30, 2015 , The Weather Channel recorded an impairment charge relate d to goodwill. We recorded an expense of $ 252 million representing NBCUniversal’s proportionate share of this impairment charge in equity in net income (losses) of investees, net in our condensed consolidated statement of income. 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 June 30, 2015 , the estimated fair value of the AirTouch preferred stock and the estimated fair value of the associated liability related to the redeemable subsidiary preferred shares issued by one of our consolidated subsidiaries were each $ 1.7 billion. The estimated fair values are based on Level 2 inputs that use 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 5 : Investments June 30, December 31, (in millions) 2015 2014 Fair Value Method $ 10 $ 10 Equity Method: The Weather Channel 86 335 Hulu 267 167 Other 307 338 660 840 Cost Method 71 32 Total investments $ 741 $ 882 Equity Method During the three months ended June 30, 2015 , The Weather Channel recorded an impairment charge related t o goodwill. We recorded expense of $ 252 million representing our proportionate share of this impairment charge in equity in net income (losses) of investees, net in our condensed consolidated statement of income . |
Long-Term Debt
Long-Term Debt | 6 Months Ended |
Jun. 30, 2015 | |
Long-Term Debt | Note 7: Long-Term Debt As of June 30, 2015 , our debt had a carrying value of $ 48.5 billion and an estimated fair value of $ 53.2 billion. The estimated fair value of our publicly traded debt is primarily based on Level 1 inputs that use quoted market values for the debt. The estimated fair value of debt for which there are no quoted market prices is based on Level 2 inputs that use interest rates available to us for debt with similar terms and remaining maturities. Debt Borrowings, Redem ptions and Repayments In May 2015, we issued $1.5 b illion aggregate principal amount of 3.375% senior notes due 202 5 , $800 million aggregate principal amount of 4.400% senior notes due 203 5 and $1.7 billion aggregate principal amount of 4.600% senior notes due 204 5 . The proceeds from this offering were used for working capital and general corporate purposes, including the redemption in June 2015 of our $750 million aggregate principal amount of 5.85% senior notes due November 2015 and our $1.0 billion aggre gate principal amount of 5.90% senior notes due March 2016. The early redemption resulted in $ 47 million of additional interest expense in our condensed consolidated statement of income. In January 2015, we repaid at maturity $900 million aggregate principal amount of 6.50% senior notes due 2015. In April 2015, we repaid at maturity $1 billion aggregate principal amount of 3.65% senior notes due 2015. Revolving Credit Facilities As of June 30, 2015 , amounts available under our consolidated revolving credit facilities, net of amounts outstanding under our commercial paper programs and outstanding letters of credit, totaled $ 6.7 billion, which included $ 645 million available under NBCUniversal Enterprise Inc.’s (“ NBCUniversal Enterprise”) revolving credit facility. Commercial Paper Progra ms As of June 30, 2015 , NBCUniversal Enterprise had $ 705 million face amount of commerci al paper outstanding. |
NBCUniversal Media, LLC [Member] | |
Long-Term Debt | Note 6 : Long-Term Debt As of June 30, 2015 , our debt , excluding the note payable to Comcast, had a carrying value of $ 9.2 billion and an estimated fair value of $ 10.1 billion. The estimated fair value of our publicly traded debt is primarily based on Level 1 inputs that use quoted market values for the debt. The estimated fair value of debt for which there are no quoted market prices is based on Level 2 inputs that use interest rates available to us for debt with similar terms and remaining maturities. Debt Repayments In April 2015, we repaid at maturity $1 billion aggregate principal amount of 3.65% senior notes due 2015. 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 de bt securities, and we fully and unconditionally guarantee all of Comcast’s and the cable guarantors’ public debt securities. As of June 30, 2015 , we guaranteed $ 33.9 billion of outstanding debt securities of Comcast and the cable guaran tors. We also fully and unconditionally guarantee the $6.25 billion Comcast revolving credit facility due 2017, of which no amounts were outstanding as of June 30, 2015 . We do not, however, guarantee the obligations of NBCUniversal Enterprise with re spect to its $4 billion aggregate principal amount of senior notes, $1.35 billion revolving credit facility and associated commercial paper program, or $725 million liquidation preference of Series A cumulative preferred stock. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Measurements | Note 8: 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 financi al 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 sig nificant 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 th at are accounted for at fair value on a recurring basis are presented in the table below. Recurring Fair Value Measures Fair Value as of June 30, December 31, 2015 2014 (in millions) Level 1 Level 2 Level 3 Total Total Assets Trading securities $ 37 $ - $ - $ 37 $ 523 Available-for-sale securities 2 122 10 134 132 Interest rate swap agreements - 71 - 71 84 Other - 60 10 70 71 Total $ 39 $ 253 $ 20 $ 312 $ 810 Liabilities Derivative component of prepaid forward sale agreements and indexed debt instruments $ - $ 4 $ - $ 4 $ 361 Contractual obligations - - 980 980 883 Contingent consideration - - - - 644 Other - 10 - 10 8 Total $ - $ 14 $ 980 $ 994 $ 1,896 Contractual Obligations and Contingent Consideration In June 2015, we settled a contingent consideration liability related to the acquisition of NBCUniversal , which was based upon future net tax benefits realized by us that would affect future payments to General Electric Company, for a payment of $ 450 million, which is included as a financing activity in the condensed consol idated statement of cash flow s . The settlement resulted in a gain of $ 240 million which was recorded to other income (expense), net in our condensed consolidated statement of income. The estimated fair values of the contractual obligations in the table below 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 include our estimates of th e future revenue we expect to generate from certain NBCUniversal businesses. The discount rates used in the measurements of fair value as of June 30, 2015 were between 12 % and 13 % and are based on the underlyi ng risk associated with our estimate of future revenue and the terms of the respective contracts. The fair value adjustments to the contractual obligations are sensitive to the assumptions related to future revenue, as well as to current interest rates, an d therefore the adjustments are recorded to other income (expense), net in our condensed consolidated statement of income. Changes in Contractual Obligations (in millions) Contractual Obligations Balance, December 31, 2014 $ 883 Fair value adjustments 136 Payments (39) Balance, June 30, 2015 $ 980 Fair Value of Redeemable Subsidiary Preferred Stock As of June 30, 2015 , the fair value of the NBCUniversal Enterprise redeemable subsidiary preferred stock was $ 748 million. The estimated fair value is based on Level 2 inputs that use 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] | |
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). 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 clas sification 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 liabilities associated with our contractual obligations. The fair va lues of the contractual obligations in the table below are primarily based on certain expected future discounted cash flows, the determination of which involves the use of significant unobservable inputs. Since the inputs used are not quoted market prices or observable inputs, we classify these contractual obligations as Level 3 financial instruments. The most significant unobservable inputs we use include our estimates of the future revenue we expect to generate from certain of our businesses. The discount rat es used in the measurements of fair value as of June 30, 2015 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 s . The fair value adjustments to the contractual obligations are 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 Obligations (in millions) Contractual Obligations Balance, December 31, 2014 $ 883 Fair value adjustments 136 Payments (39) Balance, June 30, 2015 $ 980 |
Share-Based Compensation
Share-Based Compensation | 6 Months Ended |
Jun. 30, 2015 | |
Share-Based Compensation | Note 9: 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 2015 , we granted 17.6 million stock options and 5.1 million RSUs related to our annual management awards. The weighted-average fair values associated with these grants were $11.79 per stock option and $59.50 per RSU. Recognized Share-Based Compensation Expense Three Months Ended Six Months Ended June 30 June 30 (in millions) 2015 2014 2015 2014 Stock options $ 43 $ 47 $ 78 $ 83 Restricted share units 80 68 138 116 Employee stock purchase plans 6 7 14 13 Total $ 129 $ 122 $ 230 $ 212 As of June 30, 2015 , we had unrecognized pretax compensation expense of $ 424 million and $ 647 million related to nonvested stock options and nonvested RSUs, respectively. |
NBCUniversal Media, LLC [Member] | |
Share-Based Compensation | Note 8: Share-Based Compensation Comcast maintains share-based compensation plans that primarily consist of awards of stock options and restricted share units to certain employees and directors as part of its approach to long-term incentive compensation. Additionally, through its employee stock purchase plans, employees are able to purchase shares of Comcast Class A common stock at a discount through payroll deductions. Certain of our employees participate in these plans and the exp ense associated with thei r participation is settled in cash with Comcast. Recognized Share-Based Compensation Expense Three Months Ended Six Months Ended June 30 June 30 (in millions) 2015 2014 2015 2014 Stock options $ 3 $ 6 $ 5 $ 9 Restricted share units 24 24 41 37 Employee stock purchase plans 2 2 4 4 Total $ 29 $ 32 $ 50 $ 50 |
Supplemental Financial Informat
Supplemental Financial Information | 6 Months Ended |
Jun. 30, 2015 | |
Supplemental Financial Information | Note 10: Supplemental Financial Information Receivables June 30, December 31, (in millions) 2015 2014 Receivables, gross $ 7,529 $ 6,885 Less: Allowance for returns and customer incentives 288 359 Less: Allowance for doubtful accounts 225 205 Receivables, net $ 7,016 $ 6,321 Accumulated Other Comprehensive Income (Loss) June 30, June 30, (in millions) 2015 2014 Unrealized gains (losses) on marketable securities $ 1 $ 4 Deferred gains (losses) on cash flow hedges (11) (63) Unrecognized gains (losses) on employee benefit obligations (68) 70 Cumulative translation adjustments (88) (25) Accumulated other comprehensive income (loss), net of deferred taxes $ (166) $ (14) Net Cash Provided by Operating Activities Six Months Ended June 30 (in millions) 2015 2014 Net income $ 4,316 $ 3,963 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 4,227 3,970 Share-based compensation 294 266 Noncash interest expense (income), net 95 87 Equity in net (income) losses of investees, net 203 (54) Cash received from investees 52 50 Net (gain) loss on investment activity and other (437) (113) Deferred income taxes 111 (22) Changes in operating assets and liabilities, net of effects of acquisitions and divestitures: Current and noncurrent receivables, net (707) 60 Film and television costs, net 176 (28) Accounts payable and accrued expenses related to trade creditors 109 (168) Other operating assets and liabilities 395 (464) Net cash provided by operating activities $ 8,834 $ 7,547 Cash Payments for Interest and Income Taxes Three Months Ended Six Months Ended June 30 June 30 (in millions) 2015 2014 2015 2014 Interest $ 550 $ 541 $ 1,241 $ 1,164 Income taxes $ 1,881 $ 1,718 $ 1,999 $ 1,904 Noncash Investing and Financing Activities During the six months ended June 30, 2015 : • we acquired $ 964 million of property and equipment and intangible assets that were accrued but unpaid • we recorded a liability of $ 624 million for a quarterly cash dividend of $ 0.25 per common share paid in July 2015 • we used $ 517 million of equity securities to settle our obligations under prepaid forward sale agreements |
NBCUniversal Media, LLC [Member] | |
Supplemental Financial Information | Note 9 : Supplemental Financial Information Receivables June 30, December 31, (in millions) 2015 2014 Receivables, gross $ 5,897 $ 5,258 Less: Allowance for returns and customer incentives 285 356 Less: Allowance for doubtful accounts 64 60 Receivables, net $ 5,548 $ 4,842 Accumulated Other Comprehensive Income (Loss) June 30, June 30, (in millions) 2015 2014 Unrealized gains (losses) on marketable securities $ - $ 5 Deferred gains (losses) on cash flow hedges 14 (7) Unrecognized gains (losses) on employee benefit obligations (61) 45 Cumulative translation adjustments (139) (38) Accumulated other comprehensive income (loss) $ (186) $ 5 Net Cash Provided by Operating Activities Six Months Ended June 30 (in millions) 2015 2014 Net income $ 1,862 $ 1,583 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 769 735 Equity in net (income) losses of investees, net 227 (29) Cash received from investees 38 35 Net (gain) loss on investment activity and other (38) 45 Deferred income taxes (33) 44 Changes in operating assets and liabilities, net of effects of acquisitions and divestitures: Current and noncurrent receivables, net (726) 154 Film and television costs, net 172 (40) Accounts payable and accrued expenses related to trade creditors 6 (280) Other operating assets and liabilities 344 (458) Net cash provided by operating activities $ 2,621 $ 1,789 Cash Payments for Interest and Income Taxes Three Months Ended Six Months Ended June 30 June 30 (in millions) 2015 2014 2015 2014 Interest $ 209 $ 220 $ 242 $ 256 Income taxes $ 45 $ 57 $ 85 $ 110 Noncash Investing and Financing Activities During the six months ended June 30, 2015 : • we acquired $ 140 million of property and equipment and intangible assets that were accrued but unpai d • Comcast contributed the net assets of $ 252 million related to a recently acquired business, which was a noncash transaction |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2015 | |
Commitments and Contingencies | Note 11 : Commitments and Contingencies Contingencies 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 sub ject 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 positi on, any litigation resulting from any such legal proceedings or claims could be time-consuming and injure our reputation. |
Financial Data by Business Segm
Financial Data by Business Segment | 6 Months Ended |
Jun. 30, 2015 | |
Financial Data by Business Segment | Note 12: Financial Data by Business Segment We present our operations in five reportable business segments: • Cable Communications: Consists of the operations of Comcast Cabl e, which is a leading provider of video, high-speed Internet and voice services (“cable services”) to residential customers under the XFINITY brand; we also provide similar and other services to small a nd medium-sized businesses and sell advertising. • Cable Networks: Consists primarily of our national cable networks, our regional sports and news networks, our international cable networks and our cable television production operations. • Broadcast Telev ision: Consists primarily of the NBC and Telemundo broadcast networks, our NBC and Telemundo owned local broadcast television stations, the NBC Universo national cable network, and our broadcast television production operations. • Filmed Entertainment: Con sists 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, Florida and Hollywood, California. 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 pr esented in the tables below. Three Months Ended June 30, 2015 (in millions) Revenue (d) Operating Income (Loss) Before Depreciation and Amortization (e) Depreciation and Amortization Operating Income (Loss) Capital Expenditures Cable Communications (a) $ 11,729 $ 4,798 $ 1,726 $ 3,072 $ 1,676 NBCUniversal Cable Networks 2,450 872 211 661 5 Broadcast Television 1,813 231 30 201 14 Filmed Entertainment 2,266 422 6 416 4 Theme Parks 773 354 76 278 166 Headquarters and Other (b) 3 (169) 82 (251) 83 Eliminations (c) (75) 2 - 2 - NBCUniversal 7,230 1,712 405 1,307 272 Corporate and Other 176 (252) 30 (282) 23 Eliminations (c) (392) 8 - 8 - Comcast Consolidated $ 18,743 $ 6,266 $ 2,161 $ 4,105 $ 1,971 Three Months Ended June 30, 2014 (in millions) Revenue (d) Operating Income (Loss) Before Depreciation and Amortization (e) Depreciation and Amortization Operating Income (Loss) Capital Expenditures Cable Communications (a) $ 11,029 $ 4,564 $ 1,604 $ 2,960 $ 1,493 NBCUniversal Cable Networks 2,476 914 180 734 8 Broadcast Television 1,816 240 27 213 26 Filmed Entertainment 1,176 195 5 190 3 Theme Parks 615 244 73 171 158 Headquarters and Other (b) 4 (159) 85 (244) 103 Eliminations (c) (71) - - - - NBCUniversal 6,016 1,434 370 1,064 298 Corporate and Other 172 (182) 26 (208) 7 Eliminations (c) (373) (12) - (12) - Comcast Consolidated $ 16,844 $ 5,804 $ 2,000 $ 3,804 $ 1,798 Six Months Ended June 30, 2015 (in millions) Revenue (d) Operating Income (Loss) Before Depreciation and Amortization (e) Depreciation and Amortization Operating Income (Loss) Capital Expenditures Cable Communications (a) $ 23,159 $ 9,472 $ 3,401 $ 6,071 $ 3,121 NBCUniversal Cable Networks 4,809 1,770 395 1,375 11 Broadcast Television 4,061 413 59 354 25 Filmed Entertainment 3,712 715 11 704 5 Theme Parks 1,424 617 142 475 328 Headquarters and Other (b) 7 (309) 162 (471) 171 Eliminations (c) (179) - - - - NBCUniversal 13,834 3,206 769 2,437 540 Corporate and Other 380 (477) 57 (534) 36 Eliminations (c) (777) 21 - 21 - Comcast Consolidated $ 36,596 $ 12,222 $ 4,227 $ 7,995 $ 3,697 Six Months Ended June 30, 2014 (in millions) Revenue (d) Operating Income (Loss) Before Depreciation and Amortization (e) Depreciation and Amortization Operating Income (Loss) Capital Expenditures Cable Communications (a) $ 21,786 $ 8,964 $ 3,188 $ 5,776 $ 2,638 NBCUniversal Cable Networks 4,981 1,809 369 1,440 19 Broadcast Television 4,437 362 54 308 37 Filmed Entertainment 2,527 483 10 473 4 Theme Parks 1,102 414 142 272 302 Headquarters and Other (b) 6 (322) 160 (482) 227 Eliminations (c) (161) (1) - (1) - NBCUniversal 12,892 2,745 735 2,010 589 Corporate and Other 346 (335) 47 (382) 19 Eliminations (c) (772) (32) - (32) - Comcast Consolidated $ 34,252 $ 11,342 $ 3,970 $ 7,372 $ 3,246 For the three and six months ended June 30, 2015 and 2014 , Cable Communications segment revenue was derived from the following sources: Three Months Ended Six Months Ended June 30 June 30 2015 2014 2015 2014 Residential: Video 46.3 % 47.5 % 46.5 % 47.8 % High-speed Internet 26.4 % 25.6 % 26.5 % 25.6 % Voice 7.7 % 8.4 % 7.8 % 8.5 % Business services 9.9 % 8.7 % 9.8 % 8.6 % Advertising 5.0 % 5.3 % 4.7 % 5.0 % Other 4.7 % 4.5 % 4.7 % 4.5 % Total 100 % 100 % 100 % 100.0 % Subscription revenue received from customers who purchase bundled services at a discounted rate is allocated proportionally to each service based on the individual service’s price on a stand-alone basis. For both the three and six months ended June 30, 2015 and 2014 , 2.8 % of Cable Communications segment revenue was derived from franchise and other regulatory fees. NBCUniversal Headquarte rs and Other activities include 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 Co mmunications 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 s egment • 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 pr ofit 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 bus iness 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 a nd 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 wit h 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 10 : 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 and news 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, the NBC Uni verso national cable network, 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, Florida and Hollywood, California. 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 June 30, 2015 (in millions) Revenue (c) Operating Income (Loss) Before Depreciation and Amortization (d) Depreciation and Amortization Operating Income (Loss) Capital Expenditures Cable Networks $ 2,450 $ 872 $ 211 $ 661 $ 5 Broadcast Television 1,813 231 30 201 14 Filmed Entertainment 2,266 422 6 416 4 Theme Parks 773 354 76 278 166 Headquarters and Other (a) 3 (169) 82 (251) 83 Eliminations (b) (75) 2 - 2 - Total $ 7,230 $ 1,712 $ 405 $ 1,307 $ 272 Three Months Ended June 30, 2014 (in millions) Revenue (c) Operating Income (Loss) Before Depreciation and Amortization (d) Depreciation and Amortization Operating Income (Loss) Capital Expenditures Cable Networks $ 2,476 $ 914 $ 180 $ 734 $ 8 Broadcast Television 1,816 240 27 213 26 Filmed Entertainment 1,176 195 5 190 3 Theme Parks 615 244 73 171 158 Headquarters and Other (a) 4 (159) 85 (244) 103 Eliminations (b) (71) - - - - Total $ 6,016 $ 1,434 $ 370 $ 1,064 $ 298 Six Months Ended June 30, 2015 (in millions) Revenue (c) Operating Income (Loss) Before Depreciation and Amortization (d) Depreciation and Amortization Operating Income (Loss) Capital Expenditures Cable Networks $ 4,809 $ 1,770 $ 395 $ 1,375 $ 11 Broadcast Television 4,061 413 59 354 25 Filmed Entertainment 3,712 715 11 704 5 Theme Parks 1,424 617 142 475 328 Headquarters and Other (a) 7 (309) 162 (471) 171 Eliminations (b) (179) - - - - Total $ 13,834 $ 3,206 $ 769 $ 2,437 $ 540 Six Months Ended June 30, 2014 (in millions) Revenue (c) Operating Income (Loss) Before Depreciation and Amortization (d) Depreciation and Amortization Operating Income (Loss) Capital Expenditures Cable Networks $ 4,981 $ 1,809 $ 369 $ 1,440 $ 19 Broadcast Television 4,437 362 54 308 37 Filmed Entertainment 2,527 483 10 473 4 Theme Parks 1,102 414 142 272 302 Headquarters and Other (a) 6 (322) 160 (482) 227 Eliminations (b) (161) (1) - (1) - Total $ 12,892 $ 2,745 $ 735 $ 2,010 $ 589 Headquarters and Other activities include costs associated with overhead allocations , 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 ass ets, 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, althou gh 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 activi ties, or other measures of performance or liquidity we have reported in accordance with GAAP. |
Condensed Consolidating Financi
Condensed Consolidating Financial Information | 6 Months Ended |
Jun. 30, 2015 | |
Condensed Consolidating Financial Information [Abstract] | |
Condensed Consolidating Financial Information | Note 13: Condensed Consolidating Financial Information Comcast (“Comcast Parent”), 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”) and NBCUniversal (“NBCUniversal Media Parent”) have fully and unconditionally guaranteed each other’s debt securities. In addition, the Comcast and Comcast Cable Communications, LLC $6.25 bi llion revolving credit facility due June 2017 and the Comcast commercial paper program are also fully and unconditionally guaranteed by NBCUniversal Media Parent . The Comcast commercial paper program is supported by the Comcast and Comcast Cable Communications, LLC rev olving credit facility. 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 se nior notes, as well as 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 progra m. Comcast Parent provides an unconditiona l 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 Hol dings’ 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 June 30, 2015 (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 $ - $ - $ - $ - $ 299 $ 3,187 $ - $ 3,486 Investments - - - - - 144 - 144 Receivables, net - - - - - 7,016 - 7,016 Programming rights - - - - - 847 - 847 Other current assets 363 - - - 41 1,422 - 1,826 Total current assets 363 - - - 340 12,616 - 13,319 Film and television costs - - - - - 5,751 - 5,751 Investments 29 - - - 110 2,860 - 2,999 Investments in and amounts due from subsidiaries eliminated upon consolidation 85,330 107,732 114,403 62,010 41,566 103,682 (514,723) - Property and equipment, net 203 - - - - 31,369 - 31,572 Franchise rights - - - - - 59,364 - 59,364 Goodwill - - - - - 27,422 - 27,422 Other intangible assets, net 10 - - - - 16,792 - 16,802 Other noncurrent assets, net 1,223 148 - - 91 2,048 (1,065) 2,445 Total assets $ 87,158 $ 107,880 $ 114,403 $ 62,010 $ 42,107 $ 261,904 $ (515,788) $ 159,674 Liabilities and Equity Accounts payable and accrued expenses related to trade creditors $ 18 $ - $ - $ - $ - $ 5,862 $ - $ 5,880 Accrued participations and residuals - - - - - 1,583 - 1,583 Accrued expenses and other current liabilities 1,838 283 219 49 341 3,485 - 6,215 Current portion of long-term debt 750 - - 674 1,004 1,459 - 3,887 Total current liabilities 2,606 283 219 723 1,345 12,389 - 17,565 Long-term debt, less current portion 29,857 128 1,828 822 8,214 3,787 - 44,636 Deferred income taxes - 662 - - 59 33,398 (921) 33,198 Other noncurrent liabilities 2,295 - - - 1,122 7,165 (144) 10,438 Redeemable noncontrolling interests and redeemable subsidiary preferred stock - - - - - 1,108 - 1,108 Equity: Common stock 29 - - - - - - 29 Other shareholders’ equity 52,371 106,807 112,356 60,465 31,367 203,728 (514,723) 52,371 Total Comcast Corporation shareholders’ equity 52,400 106,807 112,356 60,465 31,367 203,728 (514,723) 52,400 Noncontrolling interests - - - - - 329 - 329 Total equity 52,400 106,807 112,356 60,465 31,367 204,057 (514,723) 52,729 Total liabilities and equity $ 87,158 $ 107,880 $ 114,403 $ 62,010 $ 42,107 $ 261,904 $ (515,788) $ 159,674 Condensed Consolidating Balance Sheet December 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 Assets Cash and cash equivalents $ - $ - $ - $ - $ 385 $ 3,525 $ - $ 3,910 Investments - - - - - 602 - 602 Receivables, net - - - - - 6,321 - 6,321 Programming rights - - - - - 839 - 839 Other current assets 267 - - - 41 1,551 - 1,859 Total current assets 267 - - - 426 12,838 - 13,531 Film and television costs - - - - - 5,727 - 5,727 Investments 36 - - - 378 2,721 - 3,135 Investments in and amounts due from subsidiaries eliminated upon consolidation 84,142 103,420 110,323 58,677 41,239 98,152 (495,953) - Property and equipment, net 199 - - - - 30,754 - 30,953 Franchise rights - - - - - 59,364 - 59,364 Goodwill - - - - - 27,316 - 27,316 Other intangible assets, net 11 - - - - 16,969 - 16,980 Other noncurrent assets, net 1,224 148 - - 92 1,949 (1,080) 2,333 Total assets $ 85,879 $ 103,568 $ 110,323 $ 58,677 $ 42,135 $ 255,790 $ (497,033) $ 159,339 Liabilities and Equity Accounts payable and accrued expenses related to trade creditors $ 19 $ - $ - $ 1 $ - $ 5,618 $ - $ 5,638 Accrued participations and residuals - - - - - 1,347 - 1,347 Accrued expenses and other current liabilities 1,547 283 233 47 331 3,767 - 6,208 Current portion of long-term debt 1,650 - - 677 1,006 884 - 4,217 Total current liabilities 3,216 283 233 725 1,337 11,616 - 17,410 Long-term debt, less current portion 27,616 126 1,827 822 9,218 4,408 - 44,017 Deferred income taxes - 701 - - 67 33,127 (936) 32,959 Other noncurrent liabilities 2,336 - - - 1,143 7,484 (144) 10,819 Redeemable noncontrolling interests and redeemable subsidiary preferred stock - - - - - 1,066 - 1,066 Equity: Common stock 30 - - - - - - 30 Other shareholders’ equity 52,681 102,458 108,263 57,130 30,370 197,732 (495,953) 52,681 Total Comcast Corporation shareholders’ equity 52,711 102,458 108,263 57,130 30,370 197,732 (495,953) 52,711 Noncontrolling interests - - - - - 357 - 357 Total equity 52,711 102,458 108,263 57,130 30,370 198,089 (495,953) 53,068 Total liabilities and equity $ 85,879 $ 103,568 $ 110,323 $ 58,677 $ 42,135 $ 255,790 $ (497,033) $ 159,339 Condensed Consolidating Statement of Income For the Three Months Ended June 30, 2015 (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 $ - $ - $ - $ - $ - $ 18,743 $ - $ 18,743 Management fee revenue 252 - 246 156 - - (654) - 252 - 246 156 - 18,743 (654) 18,743 Costs and Expenses: Programming and production - - - - - 5,669 - 5,669 Other operating and administrative 225 - 246 156 255 5,052 (654) 5,280 Advertising, marketing and promotion - - - - - 1,528 - 1,528 Depreciation 7 - - - - 1,667 - 1,674 Amortization 2 - - - - 485 - 487 234 - 246 156 255 14,401 (654) 14,638 Operating income (loss) 18 - - - (255) 4,342 - 4,105 Other Income (Expense): Interest expense (472) (3) (43) (30) (116) (49) - (713) Investment income (loss), net - (1) - - (8) 26 - 17 Equity in net income (losses) of investees, net 2,431 2,162 2,001 1,713 1,281 676 (10,500) (236) Other income (expense), net 2 - - - 16 297 - 315 1,961 2,158 1,958 1,683 1,173 950 (10,500) (617) Income (loss) before income taxes 1,979 2,158 1,958 1,683 918 5,292 (10,500) 3,488 Income tax (expense) benefit 158 2 15 11 (6) (1,493) - (1,313) Net income (loss) 2,137 2,160 1,973 1,694 912 3,799 (10,500) 2,175 Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock - - - - - (38) - (38) Net income (loss) attributable to Comcast Corporation $ 2,137 $ 2,160 $ 1,973 $ 1,694 $ 912 $ 3,761 $ (10,500) $ 2,137 Comprehensive income (loss) attributable to Comcast Corporation $ 2,159 $ 2,168 $ 1,973 $ 1,694 $ 936 $ 3,761 $ (10,532) $ 2,159 Condensed Consolidating Statement of Income For the Three Months Ended June 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 $ - $ - $ - $ - $ - $ 16,844 $ - $ 16,844 Management fee revenue 237 - 231 145 - - (613) - 237 - 231 145 - 16,844 (613) 16,844 Costs and Expenses: Programming and production - - - - - 4,874 - 4,874 Other operating and administrative 181 - 231 145 237 4,741 (613) 4,922 Advertising, marketing and promotion - - - - - 1,244 - 1,244 Depreciation 8 - - - - 1,591 - 1,599 Amortization 2 - - - - 399 - 401 191 - 231 145 237 12,849 (613) 13,040 Operating income (loss) 46 - - - (237) 3,995 - 3,804 Other Income (Expense): Interest expense (400) (3) (44) (30) (125) (46) - (648) Investment income (loss), net 1 - - - 4 115 - 120 Equity in net income (losses) of investees, net 2,222 1,908 1,774 1,554 1,171 836 (9,443) 22 Other income (expense), net - - - - 7 (46) - (39) 1,823 1,905 1,730 1,524 1,057 859 (9,443) (545) Income (loss) before income taxes 1,869 1,905 1,730 1,524 820 4,854 (9,443) 3,259 Income tax (expense) benefit 123 1 15 11 (6) (1,378) - (1,234) Net income (loss) 1,992 1,906 1,745 1,535 814 3,476 (9,443) 2,025 Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock - - - - - (33) - (33) Net income (loss) attributable to Comcast Corporation $ 1,992 $ 1,906 $ 1,745 $ 1,535 $ 814 $ 3,443 $ (9,443) $ 1,992 Comprehensive income (loss) attributable to Comcast Corporation $ 1,945 $ 1,912 $ 1,744 $ 1,535 $ 832 $ 3,401 $ (9,424) $ 1,945 Condensed Consolidating Statement of Income For the Six Months Ended June 30, 2015 (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 $ - $ - $ - $ - $ - $ 36,596 $ - $ 36,596 Management fee revenue 496 - 483 306 - - (1,285) - 496 - 483 306 - 36,596 (1,285) 36,596 Costs and Expenses: Programming and production - - - - - 11,132 - 11,132 Other operating and administrative 451 - 483 306 492 9,912 (1,285) 10,359 Advertising, marketing and promotion - - - - - 2,883 - 2,883 Depreciation 15 - - - - 3,293 - 3,308 Amortization 3 - - - - 916 - 919 469 - 483 306 492 28,136 (1,285) 28,601 Operating income (loss) 27 - - - (492) 8,460 - 7,995 Other Income (Expense): Interest expense (882) (6) (87) (59) (236) (99) - (1,369) Investment income (loss), net 1 1 - - (14) 62 - 50 Equity in net income (losses) of investees, net 4,753 4,388 3,974 3,359 2,512 1,561 (20,750) (203) Other income (expense), net (3) - - - 5 415 - 417 3,869 4,383 3,887 3,300 2,267 1,939 (20,750) (1,105) Income (loss) before income taxes 3,896 4,383 3,887 3,300 1,775 10,399 (20,750) 6,890 Income tax (expense) benefit 300 2 30 21 (11) (2,916) - (2,574) Net income (loss) 4,196 4,385 3,917 3,321 1,764 7,483 (20,750) 4,316 Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock - - - - - (120) - (120) Net income (loss) attributable to Comcast Corporation $ 4,196 $ 4,385 $ 3,917 $ 3,321 $ 1,764 $ 7,363 $ (20,750) $ 4,196 Comprehensive income (loss) attributable to Comcast Corporation $ 4,176 $ 4,377 $ 3,916 $ 3,320 $ 1,737 $ 7,362 $ (20,712) $ 4,176 Condensed Consolidating Statement of Income For the Six Months Ended June 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 $ - $ - $ - $ - $ - $ 34,252 $ - $ 34,252 Management fee revenue 467 - 454 286 - - (1,207) - 467 - 454 286 - 34,252 (1,207) 34,252 Costs and Expenses: Programming and production - - - - - 10,782 - 10,782 Other operating and administrative 274 - 454 286 494 9,370 (1,207) 9,671 Advertising, marketing and promotion - - - - - 2,457 - 2,457 Depreciation 15 - - - - 3,153 - 3,168 Amortization 3 - - - - 799 - 802 292 - 454 286 494 26,561 (1,207) 26,880 Operating income (loss) 175 - - - (494) 7,691 - 7,372 Other Income (Expense): Interest expense (787) (6) (89) (59) (249) (100) - (1,290) Investment income (loss), net 2 3 - - 5 223 - 233 Equity in net income (losses) of investees, net 4,260 4,175 3,939 3,065 2,242 1,550 (19,177) 54 Other income (expense), net - - - - 3 (57) - (54) 3,475 4,172 3,850 3,006 2,001 1,616 (19,177) (1,057) Income (loss) before income taxes 3,650 4,172 3,850 3,006 1,507 9,307 (19,177) 6,315 Income tax (expense) benefit 213 1 31 21 (11) (2,607) - (2,352) Net income (loss) 3,863 4,173 3,881 3,027 1,496 6,700 (19,177) 3,963 Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock - - - - - (100) - (100) Net income (loss) attributable to Comcast Corporation $ 3,863 $ 4,173 $ 3,881 $ 3,027 $ 1,496 $ 6,600 $ (19,177) $ 3,863 Comprehensive income (loss) attributable to Comcast Corporation $ 3,793 $ 4,181 $ 3,882 $ 3,028 $ 1,517 $ 6,535 $ (19,143) $ 3,793 Condensed Consolidating Statement of Cash Flows For the Six Months Ended June 30, 2015 (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 $ (398) $ (1) $ (69) $ (40) $ (751) $ 10,093 $ - $ 8,834 Investing Activities Net transactions with affiliates 3,661 1 69 40 1,670 (5,441) - - Capital expenditures (13) - - - - (3,684) - (3,697) Cash paid for intangible assets (1) - - - - (599) - (600) Acquisitions and construction of real estate properties - - - - - (65) - (65) Acquisitions, net of cash acquired - - - - - (179) - (179) Proceeds from sales of businesses and investments - - - - 1 394 - 395 Purchases of investments (2) - - - - (270) - (272) Other 7 - - - (5) 180 - 182 Net cash provided by (used in) investing activities 3,652 1 69 40 1,666 (9,664) - (4,236) Financing Activities Proceeds from (repayments of) short-term borrowings, net - - - - - (137) - (137) Proceeds from borrowings 3,996 - - - - - - 3,996 Repurchases and repayments of debt (2,650) - - - (1,001) (15) - (3,666) Repurchases and retirements of common stock (3,585) - - - - - - (3,585) Dividends paid (1,200) - - - - - - (1,200) Issuances of common stock 32 - - - - - - 32 Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock - - - - - (114) - (114) Other 153 - - - - (501) - (348) Net cash provided by (used in) financing activities (3,254) - - - (1,001) (767) - (5,022) Increase (decrease) in cash and cash equivalents - - - - (86) (338) - (424) Cash and cash equivalents, beginning of period - - - - 385 3,525 - 3,910 Cash and cash equivalents, end of period $ - $ - $ - $ - $ 299 $ 3,187 $ - $ 3,486 Condensed Consolidating Statement of Cash Flows For the Six Months Ended June 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 $ (147) $ 12 $ (43) $ (41) $ (711) $ 8,477 $ - $ 7,547 Investing Activities Net transactions with affiliates 2,674 (12) 43 41 1,583 (4,329) - - Capital expenditures (4) - - - - (3,242) - (3,246) Cash paid for intangible assets (2) - - - - (475) - (477) Acquisitions and construction of real estate properties - - - - - (10) - (10) Acquisitions, net of cash acquired - - - - - (406) - (406) Proceeds from sales of businesses and investments - - - - 2 479 - 481 Purchases of investments (10) - - - (6) (61) - (77) Other - - - - 4 (157) - (153) Net cash provided by (used in) investing activities 2,658 (12) 43 41 1,583 (8,201) - (3,888) Financing Activities Proceeds from (repayments of) short-term borrowings, net (1,350) - - - - 1,007 - (343) Proceeds from borrowings 2,184 - - - - 3 - 2,187 Repurchases and repayments of debt (1,000) - - - (901) (1,262) - (3,163) Repurchases and retirements of common stock (1,500) - - - - - - (1,500) Dividends paid (1,092) - - - - - - (1,092) Issuances of common stock 29 - - - - - - 29 Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock - - - - - (117) - (117) Other 218 - - - - (67) - 151 Net cash provided by (used in) financing activities (2,511) - - - (901) (436) - (3,848) Increase (decrease) in cash and cash equivalents - - - - (29) (160) - (189) Cash and cash equivalents, beginning of period - - - - 336 1,382 - 1,718 Cash and cash equivalents, end of period $ - $ - $ - $ - $ 307 $ 1,222 $ - $ 1,529 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Earnings Per Share | |
Computation of diluted EPS | Computation of Diluted EPS Three Months Ended June 30 2015 2014 (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 $ 2,137 2,500 $ 0.85 $ 1,992 2,594 $ 0.77 Effect of dilutive securities: Assumed exercise or issuance of shares relating to stock plans 31 34 Diluted EPS attributable to Comcast Corporation shareholders $ 2,137 2,531 $ 0.84 $ 1,992 2,628 $ 0.76 Six Months Ended June 30 2015 2014 (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 $ 4,196 2,510 $ 1.67 $ 3,863 2,598 $ 1.49 Effect of dilutive securities: Assumed exercise or issuance of shares relating to stock plans 34 38 Diluted EPS attributable to Comcast Corporation shareholders $ 4,196 2,544 $ 1.65 $ 3,863 2,636 $ 1.47 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
NBCUniversal Media, LLC [Member] | |
Related Party Transactions Condensed Financial Statements | Condensed Consolidated Balance Sheet June 30, December 31, (in millions) 2015 2014 Transactions with Comcast and Consolidated Subsidiaries Receivables, net $ 236 $ 229 Accounts payable and accrued expenses related to trade creditors $ 34 $ 47 Accrued expenses and other current liabilities $ 6 $ 8 Note payable to Comcast $ 597 $ 865 Other noncurrent liabilities $ 411 $ 383 Condensed Consolidated Statement of Income Three Months Ended Six Months Ended June 30 June 30 (in millions) 2015 2014 2015 2014 Transactions with Comcast and Consolidated Subsidiaries Revenue $ 330 $ 331 $ 672 $ 685 Operating costs and expenses $ (43) $ (40) $ (93) $ (64) Other income (expense) $ (9) $ (13) $ (18) $ (22) |
Film and Television Costs (Tabl
Film and Television Costs (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Film and Television Costs | June 30, December 31, (in millions) 2015 2014 Film Costs: Released, less amortization $ 1,499 $ 1,371 Completed, not released 138 71 In production and in development 856 1,189 2,493 2,631 Television Costs: Released, less amortization 1,407 1,273 In production and in development 624 505 2,031 1,778 Programming rights, less amortization 2,074 2,157 6,598 6,566 Less: Current portion of programming rights 847 839 Film and television costs $ 5,751 $ 5,727 |
NBCUniversal Media, LLC [Member] | |
Film and Television Costs | June 30, December 31, (in millions) 2015 2014 Film Costs: Released, less amortization $ 1,499 $ 1,371 Completed, not released 138 71 In production and in development 856 1,189 2,493 2,631 Television Costs: Released, less amortization 1,407 1,273 In production and in development 624 505 2,031 1,778 Programming rights, less amortization 2,051 2,130 6,575 6,539 Less: Current portion of programming rights 831 825 Film and television costs $ 5,744 $ 5,714 |
Investments (Tables)
Investments (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Investment Summary | June 30, December 31, (in millions) 2015 2014 Fair Value Method $ 181 $ 662 Equity Method: The Weather Channel 86 335 Hulu 267 167 Other 491 517 844 1,019 Cost Method: AirTouch 1,575 1,568 Other 543 488 2,118 2,056 Total investments 3,143 3,737 Less: Current investments 144 602 Noncurrent investments $ 2,999 $ 3,135 |
Investment Income (Loss), Net | Investment Income (Loss), Net Three Months Ended Six Months Ended June 30 June 30 (in millions) 2015 2014 2015 2014 Gains on sales and exchanges of investments, net $ 4 $ 90 $ 4 $ 173 Investment impairment losses (16) (19) (31) (24) Unrealized gains (losses) on securities underlying prepaid forward sale agreements - 85 42 (28) Mark to market adjustments on derivative component of prepaid forward sale agreements and indexed debt instruments 1 (85) (37) 32 Interest and dividend income 28 28 56 56 Other, net - 21 16 24 Investment income (loss), net $ 17 $ 120 $ 50 $ 233 |
NBCUniversal Media, LLC [Member] | |
Investment Summary | June 30, December 31, (in millions) 2015 2014 Fair Value Method $ 10 $ 10 Equity Method: The Weather Channel 86 335 Hulu 267 167 Other 307 338 660 840 Cost Method 71 32 Total investments $ 741 $ 882 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Fair Value Assets and Liabilities Measured on Recurring Basis | Recurring Fair Value Measures Fair Value as of June 30, December 31, 2015 2014 (in millions) Level 1 Level 2 Level 3 Total Total Assets Trading securities $ 37 $ - $ - $ 37 $ 523 Available-for-sale securities 2 122 10 134 132 Interest rate swap agreements - 71 - 71 84 Other - 60 10 70 71 Total $ 39 $ 253 $ 20 $ 312 $ 810 Liabilities Derivative component of prepaid forward sale agreements and indexed debt instruments $ - $ 4 $ - $ 4 $ 361 Contractual obligations - - 980 980 883 Contingent consideration - - - - 644 Other - 10 - 10 8 Total $ - $ 14 $ 980 $ 994 $ 1,896 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Changes in Contractual Obligations (in millions) Contractual Obligations Balance, December 31, 2014 $ 883 Fair value adjustments 136 Payments (39) Balance, June 30, 2015 $ 980 |
NBCUniversal Media, LLC [Member] | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Changes in Contractual Obligations (in millions) Contractual Obligations Balance, December 31, 2014 $ 883 Fair value adjustments 136 Payments (39) Balance, June 30, 2015 $ 980 |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Recognized Share-Based Compensation Expense | Recognized Share-Based Compensation Expense Three Months Ended Six Months Ended June 30 June 30 (in millions) 2015 2014 2015 2014 Stock options $ 43 $ 47 $ 78 $ 83 Restricted share units 80 68 138 116 Employee stock purchase plans 6 7 14 13 Total $ 129 $ 122 $ 230 $ 212 |
NBCUniversal Media, LLC [Member] | |
Recognized Share-Based Compensation Expense | Recognized Share-Based Compensation Expense Three Months Ended Six Months Ended June 30 June 30 (in millions) 2015 2014 2015 2014 Stock options $ 3 $ 6 $ 5 $ 9 Restricted share units 24 24 41 37 Employee stock purchase plans 2 2 4 4 Total $ 29 $ 32 $ 50 $ 50 |
Supplemental Financial Inform30
Supplemental Financial Information (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Receivables | Receivables June 30, December 31, (in millions) 2015 2014 Receivables, gross $ 7,529 $ 6,885 Less: Allowance for returns and customer incentives 288 359 Less: Allowance for doubtful accounts 225 205 Receivables, net $ 7,016 $ 6,321 |
Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income (Loss) June 30, June 30, (in millions) 2015 2014 Unrealized gains (losses) on marketable securities $ 1 $ 4 Deferred gains (losses) on cash flow hedges (11) (63) Unrecognized gains (losses) on employee benefit obligations (68) 70 Cumulative translation adjustments (88) (25) Accumulated other comprehensive income (loss), net of deferred taxes $ (166) $ (14) |
Schedule Of Adjustments To Reconcile Net Income To Net Cash Provided By Operating Activities | Net Cash Provided by Operating Activities Six Months Ended June 30 (in millions) 2015 2014 Net income $ 4,316 $ 3,963 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 4,227 3,970 Share-based compensation 294 266 Noncash interest expense (income), net 95 87 Equity in net (income) losses of investees, net 203 (54) Cash received from investees 52 50 Net (gain) loss on investment activity and other (437) (113) Deferred income taxes 111 (22) Changes in operating assets and liabilities, net of effects of acquisitions and divestitures: Current and noncurrent receivables, net (707) 60 Film and television costs, net 176 (28) Accounts payable and accrued expenses related to trade creditors 109 (168) Other operating assets and liabilities 395 (464) Net cash provided by operating activities $ 8,834 $ 7,547 |
Cash Payments For Interest and Income Taxes | Cash Payments for Interest and Income Taxes Three Months Ended Six Months Ended June 30 June 30 (in millions) 2015 2014 2015 2014 Interest $ 550 $ 541 $ 1,241 $ 1,164 Income taxes $ 1,881 $ 1,718 $ 1,999 $ 1,904 |
NBCUniversal Media, LLC [Member] | |
Receivables | Receivables June 30, December 31, (in millions) 2015 2014 Receivables, gross $ 5,897 $ 5,258 Less: Allowance for returns and customer incentives 285 356 Less: Allowance for doubtful accounts 64 60 Receivables, net $ 5,548 $ 4,842 |
Accumulated Other Comprehensive Income (Loss) | Accumulated Other Comprehensive Income (Loss) June 30, June 30, (in millions) 2015 2014 Unrealized gains (losses) on marketable securities $ - $ 5 Deferred gains (losses) on cash flow hedges 14 (7) Unrecognized gains (losses) on employee benefit obligations (61) 45 Cumulative translation adjustments (139) (38) Accumulated other comprehensive income (loss) $ (186) $ 5 |
Schedule Of Adjustments To Reconcile Net Income To Net Cash Provided By Operating Activities | Net Cash Provided by Operating Activities Six Months Ended June 30 (in millions) 2015 2014 Net income $ 1,862 $ 1,583 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 769 735 Equity in net (income) losses of investees, net 227 (29) Cash received from investees 38 35 Net (gain) loss on investment activity and other (38) 45 Deferred income taxes (33) 44 Changes in operating assets and liabilities, net of effects of acquisitions and divestitures: Current and noncurrent receivables, net (726) 154 Film and television costs, net 172 (40) Accounts payable and accrued expenses related to trade creditors 6 (280) Other operating assets and liabilities 344 (458) Net cash provided by operating activities $ 2,621 $ 1,789 |
Cash Payments For Interest and Income Taxes | Cash Payments for Interest and Income Taxes Three Months Ended Six Months Ended June 30 June 30 (in millions) 2015 2014 2015 2014 Interest $ 209 $ 220 $ 242 $ 256 Income taxes $ 45 $ 57 $ 85 $ 110 |
Financial Data by Business Se31
Financial Data by Business Segment (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Financial Data by Business Segment | Three Months Ended June 30, 2015 (in millions) Revenue (d) Operating Income (Loss) Before Depreciation and Amortization (e) Depreciation and Amortization Operating Income (Loss) Capital Expenditures Cable Communications (a) $ 11,729 $ 4,798 $ 1,726 $ 3,072 $ 1,676 NBCUniversal Cable Networks 2,450 872 211 661 5 Broadcast Television 1,813 231 30 201 14 Filmed Entertainment 2,266 422 6 416 4 Theme Parks 773 354 76 278 166 Headquarters and Other (b) 3 (169) 82 (251) 83 Eliminations (c) (75) 2 - 2 - NBCUniversal 7,230 1,712 405 1,307 272 Corporate and Other 176 (252) 30 (282) 23 Eliminations (c) (392) 8 - 8 - Comcast Consolidated $ 18,743 $ 6,266 $ 2,161 $ 4,105 $ 1,971 Three Months Ended June 30, 2014 (in millions) Revenue (d) Operating Income (Loss) Before Depreciation and Amortization (e) Depreciation and Amortization Operating Income (Loss) Capital Expenditures Cable Communications (a) $ 11,029 $ 4,564 $ 1,604 $ 2,960 $ 1,493 NBCUniversal Cable Networks 2,476 914 180 734 8 Broadcast Television 1,816 240 27 213 26 Filmed Entertainment 1,176 195 5 190 3 Theme Parks 615 244 73 171 158 Headquarters and Other (b) 4 (159) 85 (244) 103 Eliminations (c) (71) - - - - NBCUniversal 6,016 1,434 370 1,064 298 Corporate and Other 172 (182) 26 (208) 7 Eliminations (c) (373) (12) - (12) - Comcast Consolidated $ 16,844 $ 5,804 $ 2,000 $ 3,804 $ 1,798 Six Months Ended June 30, 2015 (in millions) Revenue (d) Operating Income (Loss) Before Depreciation and Amortization (e) Depreciation and Amortization Operating Income (Loss) Capital Expenditures Cable Communications (a) $ 23,159 $ 9,472 $ 3,401 $ 6,071 $ 3,121 NBCUniversal Cable Networks 4,809 1,770 395 1,375 11 Broadcast Television 4,061 413 59 354 25 Filmed Entertainment 3,712 715 11 704 5 Theme Parks 1,424 617 142 475 328 Headquarters and Other (b) 7 (309) 162 (471) 171 Eliminations (c) (179) - - - - NBCUniversal 13,834 3,206 769 2,437 540 Corporate and Other 380 (477) 57 (534) 36 Eliminations (c) (777) 21 - 21 - Comcast Consolidated $ 36,596 $ 12,222 $ 4,227 $ 7,995 $ 3,697 Six Months Ended June 30, 2014 (in millions) Revenue (d) Operating Income (Loss) Before Depreciation and Amortization (e) Depreciation and Amortization Operating Income (Loss) Capital Expenditures Cable Communications (a) $ 21,786 $ 8,964 $ 3,188 $ 5,776 $ 2,638 NBCUniversal Cable Networks 4,981 1,809 369 1,440 19 Broadcast Television 4,437 362 54 308 37 Filmed Entertainment 2,527 483 10 473 4 Theme Parks 1,102 414 142 272 302 Headquarters and Other (b) 6 (322) 160 (482) 227 Eliminations (c) (161) (1) - (1) - NBCUniversal 12,892 2,745 735 2,010 589 Corporate and Other 346 (335) 47 (382) 19 Eliminations (c) (772) (32) - (32) - Comcast Consolidated $ 34,252 $ 11,342 $ 3,970 $ 7,372 $ 3,246 |
Cable Communications Segment Revenue Sources | Three Months Ended Six Months Ended June 30 June 30 2015 2014 2015 2014 Residential: Video 46.3 % 47.5 % 46.5 % 47.8 % High-speed Internet 26.4 % 25.6 % 26.5 % 25.6 % Voice 7.7 % 8.4 % 7.8 % 8.5 % Business services 9.9 % 8.7 % 9.8 % 8.6 % Advertising 5.0 % 5.3 % 4.7 % 5.0 % Other 4.7 % 4.5 % 4.7 % 4.5 % Total 100 % 100 % 100 % 100.0 % |
NBCUniversal Media, LLC [Member] | |
Financial Data by Business Segment | Three Months Ended June 30, 2015 (in millions) Revenue (c) Operating Income (Loss) Before Depreciation and Amortization (d) Depreciation and Amortization Operating Income (Loss) Capital Expenditures Cable Networks $ 2,450 $ 872 $ 211 $ 661 $ 5 Broadcast Television 1,813 231 30 201 14 Filmed Entertainment 2,266 422 6 416 4 Theme Parks 773 354 76 278 166 Headquarters and Other (a) 3 (169) 82 (251) 83 Eliminations (b) (75) 2 - 2 - Total $ 7,230 $ 1,712 $ 405 $ 1,307 $ 272 Three Months Ended June 30, 2014 (in millions) Revenue (c) Operating Income (Loss) Before Depreciation and Amortization (d) Depreciation and Amortization Operating Income (Loss) Capital Expenditures Cable Networks $ 2,476 $ 914 $ 180 $ 734 $ 8 Broadcast Television 1,816 240 27 213 26 Filmed Entertainment 1,176 195 5 190 3 Theme Parks 615 244 73 171 158 Headquarters and Other (a) 4 (159) 85 (244) 103 Eliminations (b) (71) - - - - Total $ 6,016 $ 1,434 $ 370 $ 1,064 $ 298 Six Months Ended June 30, 2015 (in millions) Revenue (c) Operating Income (Loss) Before Depreciation and Amortization (d) Depreciation and Amortization Operating Income (Loss) Capital Expenditures Cable Networks $ 4,809 $ 1,770 $ 395 $ 1,375 $ 11 Broadcast Television 4,061 413 59 354 25 Filmed Entertainment 3,712 715 11 704 5 Theme Parks 1,424 617 142 475 328 Headquarters and Other (a) 7 (309) 162 (471) 171 Eliminations (b) (179) - - - - Total $ 13,834 $ 3,206 $ 769 $ 2,437 $ 540 Six Months Ended June 30, 2014 (in millions) Revenue (c) Operating Income (Loss) Before Depreciation and Amortization (d) Depreciation and Amortization Operating Income (Loss) Capital Expenditures Cable Networks $ 4,981 $ 1,809 $ 369 $ 1,440 $ 19 Broadcast Television 4,437 362 54 308 37 Filmed Entertainment 2,527 483 10 473 4 Theme Parks 1,102 414 142 272 302 Headquarters and Other (a) 6 (322) 160 (482) 227 Eliminations (b) (161) (1) - (1) - Total $ 12,892 $ 2,745 $ 735 $ 2,010 $ 589 |
Condensed Consolidating Finan32
Condensed Consolidating Financial Information (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Condensed Consolidating Financial Information [Abstract] | |
Condensed Consolidating Financial Statements | Condensed Consolidating Balance Sheet June 30, 2015 (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 $ - $ - $ - $ - $ 299 $ 3,187 $ - $ 3,486 Investments - - - - - 144 - 144 Receivables, net - - - - - 7,016 - 7,016 Programming rights - - - - - 847 - 847 Other current assets 363 - - - 41 1,422 - 1,826 Total current assets 363 - - - 340 12,616 - 13,319 Film and television costs - - - - - 5,751 - 5,751 Investments 29 - - - 110 2,860 - 2,999 Investments in and amounts due from subsidiaries eliminated upon consolidation 85,330 107,732 114,403 62,010 41,566 103,682 (514,723) - Property and equipment, net 203 - - - - 31,369 - 31,572 Franchise rights - - - - - 59,364 - 59,364 Goodwill - - - - - 27,422 - 27,422 Other intangible assets, net 10 - - - - 16,792 - 16,802 Other noncurrent assets, net 1,223 148 - - 91 2,048 (1,065) 2,445 Total assets $ 87,158 $ 107,880 $ 114,403 $ 62,010 $ 42,107 $ 261,904 $ (515,788) $ 159,674 Liabilities and Equity Accounts payable and accrued expenses related to trade creditors $ 18 $ - $ - $ - $ - $ 5,862 $ - $ 5,880 Accrued participations and residuals - - - - - 1,583 - 1,583 Accrued expenses and other current liabilities 1,838 283 219 49 341 3,485 - 6,215 Current portion of long-term debt 750 - - 674 1,004 1,459 - 3,887 Total current liabilities 2,606 283 219 723 1,345 12,389 - 17,565 Long-term debt, less current portion 29,857 128 1,828 822 8,214 3,787 - 44,636 Deferred income taxes - 662 - - 59 33,398 (921) 33,198 Other noncurrent liabilities 2,295 - - - 1,122 7,165 (144) 10,438 Redeemable noncontrolling interests and redeemable subsidiary preferred stock - - - - - 1,108 - 1,108 Equity: Common stock 29 - - - - - - 29 Other shareholders’ equity 52,371 106,807 112,356 60,465 31,367 203,728 (514,723) 52,371 Total Comcast Corporation shareholders’ equity 52,400 106,807 112,356 60,465 31,367 203,728 (514,723) 52,400 Noncontrolling interests - - - - - 329 - 329 Total equity 52,400 106,807 112,356 60,465 31,367 204,057 (514,723) 52,729 Total liabilities and equity $ 87,158 $ 107,880 $ 114,403 $ 62,010 $ 42,107 $ 261,904 $ (515,788) $ 159,674 Condensed Consolidating Balance Sheet December 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 Assets Cash and cash equivalents $ - $ - $ - $ - $ 385 $ 3,525 $ - $ 3,910 Investments - - - - - 602 - 602 Receivables, net - - - - - 6,321 - 6,321 Programming rights - - - - - 839 - 839 Other current assets 267 - - - 41 1,551 - 1,859 Total current assets 267 - - - 426 12,838 - 13,531 Film and television costs - - - - - 5,727 - 5,727 Investments 36 - - - 378 2,721 - 3,135 Investments in and amounts due from subsidiaries eliminated upon consolidation 84,142 103,420 110,323 58,677 41,239 98,152 (495,953) - Property and equipment, net 199 - - - - 30,754 - 30,953 Franchise rights - - - - - 59,364 - 59,364 Goodwill - - - - - 27,316 - 27,316 Other intangible assets, net 11 - - - - 16,969 - 16,980 Other noncurrent assets, net 1,224 148 - - 92 1,949 (1,080) 2,333 Total assets $ 85,879 $ 103,568 $ 110,323 $ 58,677 $ 42,135 $ 255,790 $ (497,033) $ 159,339 Liabilities and Equity Accounts payable and accrued expenses related to trade creditors $ 19 $ - $ - $ 1 $ - $ 5,618 $ - $ 5,638 Accrued participations and residuals - - - - - 1,347 - 1,347 Accrued expenses and other current liabilities 1,547 283 233 47 331 3,767 - 6,208 Current portion of long-term debt 1,650 - - 677 1,006 884 - 4,217 Total current liabilities 3,216 283 233 725 1,337 11,616 - 17,410 Long-term debt, less current portion 27,616 126 1,827 822 9,218 4,408 - 44,017 Deferred income taxes - 701 - - 67 33,127 (936) 32,959 Other noncurrent liabilities 2,336 - - - 1,143 7,484 (144) 10,819 Redeemable noncontrolling interests and redeemable subsidiary preferred stock - - - - - 1,066 - 1,066 Equity: Common stock 30 - - - - - - 30 Other shareholders’ equity 52,681 102,458 108,263 57,130 30,370 197,732 (495,953) 52,681 Total Comcast Corporation shareholders’ equity 52,711 102,458 108,263 57,130 30,370 197,732 (495,953) 52,711 Noncontrolling interests - - - - - 357 - 357 Total equity 52,711 102,458 108,263 57,130 30,370 198,089 (495,953) 53,068 Total liabilities and equity $ 85,879 $ 103,568 $ 110,323 $ 58,677 $ 42,135 $ 255,790 $ (497,033) $ 159,339 Condensed Consolidating Statement of Income For the Three Months Ended June 30, 2015 (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 $ - $ - $ - $ - $ - $ 18,743 $ - $ 18,743 Management fee revenue 252 - 246 156 - - (654) - 252 - 246 156 - 18,743 (654) 18,743 Costs and Expenses: Programming and production - - - - - 5,669 - 5,669 Other operating and administrative 225 - 246 156 255 5,052 (654) 5,280 Advertising, marketing and promotion - - - - - 1,528 - 1,528 Depreciation 7 - - - - 1,667 - 1,674 Amortization 2 - - - - 485 - 487 234 - 246 156 255 14,401 (654) 14,638 Operating income (loss) 18 - - - (255) 4,342 - 4,105 Other Income (Expense): Interest expense (472) (3) (43) (30) (116) (49) - (713) Investment income (loss), net - (1) - - (8) 26 - 17 Equity in net income (losses) of investees, net 2,431 2,162 2,001 1,713 1,281 676 (10,500) (236) Other income (expense), net 2 - - - 16 297 - 315 1,961 2,158 1,958 1,683 1,173 950 (10,500) (617) Income (loss) before income taxes 1,979 2,158 1,958 1,683 918 5,292 (10,500) 3,488 Income tax (expense) benefit 158 2 15 11 (6) (1,493) - (1,313) Net income (loss) 2,137 2,160 1,973 1,694 912 3,799 (10,500) 2,175 Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock - - - - - (38) - (38) Net income (loss) attributable to Comcast Corporation $ 2,137 $ 2,160 $ 1,973 $ 1,694 $ 912 $ 3,761 $ (10,500) $ 2,137 Comprehensive income (loss) attributable to Comcast Corporation $ 2,159 $ 2,168 $ 1,973 $ 1,694 $ 936 $ 3,761 $ (10,532) $ 2,159 Condensed Consolidating Statement of Income For the Three Months Ended June 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 $ - $ - $ - $ - $ - $ 16,844 $ - $ 16,844 Management fee revenue 237 - 231 145 - - (613) - 237 - 231 145 - 16,844 (613) 16,844 Costs and Expenses: Programming and production - - - - - 4,874 - 4,874 Other operating and administrative 181 - 231 145 237 4,741 (613) 4,922 Advertising, marketing and promotion - - - - - 1,244 - 1,244 Depreciation 8 - - - - 1,591 - 1,599 Amortization 2 - - - - 399 - 401 191 - 231 145 237 12,849 (613) 13,040 Operating income (loss) 46 - - - (237) 3,995 - 3,804 Other Income (Expense): Interest expense (400) (3) (44) (30) (125) (46) - (648) Investment income (loss), net 1 - - - 4 115 - 120 Equity in net income (losses) of investees, net 2,222 1,908 1,774 1,554 1,171 836 (9,443) 22 Other income (expense), net - - - - 7 (46) - (39) 1,823 1,905 1,730 1,524 1,057 859 (9,443) (545) Income (loss) before income taxes 1,869 1,905 1,730 1,524 820 4,854 (9,443) 3,259 Income tax (expense) benefit 123 1 15 11 (6) (1,378) - (1,234) Net income (loss) 1,992 1,906 1,745 1,535 814 3,476 (9,443) 2,025 Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock - - - - - (33) - (33) Net income (loss) attributable to Comcast Corporation $ 1,992 $ 1,906 $ 1,745 $ 1,535 $ 814 $ 3,443 $ (9,443) $ 1,992 Comprehensive income (loss) attributable to Comcast Corporation $ 1,945 $ 1,912 $ 1,744 $ 1,535 $ 832 $ 3,401 $ (9,424) $ 1,945 Condensed Consolidating Statement of Income For the Six Months Ended June 30, 2015 (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 $ - $ - $ - $ - $ - $ 36,596 $ - $ 36,596 Management fee revenue 496 - 483 306 - - (1,285) - 496 - 483 306 - 36,596 (1,285) 36,596 Costs and Expenses: Programming and production - - - - - 11,132 - 11,132 Other operating and administrative 451 - 483 306 492 9,912 (1,285) 10,359 Advertising, marketing and promotion - - - - - 2,883 - 2,883 Depreciation 15 - - - - 3,293 - 3,308 Amortization 3 - - - - 916 - 919 469 - 483 306 492 28,136 (1,285) 28,601 Operating income (loss) 27 - - - (492) 8,460 - 7,995 Other Income (Expense): Interest expense (882) (6) (87) (59) (236) (99) - (1,369) Investment income (loss), net 1 1 - - (14) 62 - 50 Equity in net income (losses) of investees, net 4,753 4,388 3,974 3,359 2,512 1,561 (20,750) (203) Other income (expense), net (3) - - - 5 415 - 417 3,869 4,383 3,887 3,300 2,267 1,939 (20,750) (1,105) Income (loss) before income taxes 3,896 4,383 3,887 3,300 1,775 10,399 (20,750) 6,890 Income tax (expense) benefit 300 2 30 21 (11) (2,916) - (2,574) Net income (loss) 4,196 4,385 3,917 3,321 1,764 7,483 (20,750) 4,316 Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock - - - - - (120) - (120) Net income (loss) attributable to Comcast Corporation $ 4,196 $ 4,385 $ 3,917 $ 3,321 $ 1,764 $ 7,363 $ (20,750) $ 4,196 Comprehensive income (loss) attributable to Comcast Corporation $ 4,176 $ 4,377 $ 3,916 $ 3,320 $ 1,737 $ 7,362 $ (20,712) $ 4,176 Condensed Consolidating Statement of Income For the Six Months Ended June 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 $ - $ - $ - $ - $ - $ 34,252 $ - $ 34,252 Management fee revenue 467 - 454 286 - - (1,207) - 467 - 454 286 - 34,252 (1,207) 34,252 Costs and Expenses: Programming and production - - - - - 10,782 - 10,782 Other operating and administrative 274 - 454 286 494 9,370 (1,207) 9,671 Advertising, marketing and promotion - - - - - 2,457 - 2,457 Depreciation 15 - - - - 3,153 - 3,168 Amortization 3 - - - - 799 - 802 292 - 454 286 494 26,561 (1,207) 26,880 Operating income (loss) 175 - - - (494) 7,691 - 7,372 Other Income (Expense): Interest expense (787) (6) (89) (59) (249) (100) - (1,290) Investment income (loss), net 2 3 - - 5 223 - 233 Equity in net income (losses) of investees, net 4,260 4,175 3,939 3,065 2,242 1,550 (19,177) 54 Other income (expense), net - - - - 3 (57) - (54) 3,475 4,172 3,850 3,006 2,001 1,616 (19,177) (1,057) Income (loss) before income taxes 3,650 4,172 3,850 3,006 1,507 9,307 (19,177) 6,315 Income tax (expense) benefit 213 1 31 21 (11) (2,607) - (2,352) Net income (loss) 3,863 4,173 3,881 3,027 1,496 6,700 (19,177) 3,963 Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock - - - - - (100) - (100) Net income (loss) attributable to Comcast Corporation $ 3,863 $ 4,173 $ 3,881 $ 3,027 $ 1,496 $ 6,600 $ (19,177) $ 3,863 Comprehensive income (loss) attributable to Comcast Corporation $ 3,793 $ 4,181 $ 3,882 $ 3,028 $ 1,517 $ 6,535 $ (19,143) $ 3,793 Condensed Consolidating Statement of Cash Flows For the Six Months Ended June 30, 2015 (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 $ (398) $ (1) $ (69) $ (40) $ (751) $ 10,093 $ - $ 8,834 Investing Activities Net transactions with affiliates 3,661 1 69 40 1,670 (5,441) - - Capital expenditures (13) - - - - (3,684) - (3,697) Cash paid for intangible assets (1) - - - - (599) - (600) Acquisitions and construction of real estate properties - - - - - (65) - (65) Acquisitions, net of cash acquired - - - - - (179) - (179) Proceeds from sales of businesses and investments - - - - 1 394 - 395 Purchases of investments (2) - - - - (270) - (272) Other 7 - - - (5) 180 - 182 Net cash provided by (used in) investing activities 3,652 1 69 40 1,666 (9,664) - (4,236) Financing Activities Proceeds from (repayments of) short-term borrowings, net - - - - - (137) - (137) Proceeds from borrowings 3,996 - - - - - - 3,996 Repurchases and repayments of debt (2,650) - - - (1,001) (15) - (3,666) Repurchases and retirements of common stock (3,585) - - - - - - (3,585) Dividends paid (1,200) - - - - - - (1,200) Issuances of common stock 32 - - - - - - 32 Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock - - - - - (114) - (114) Other 153 - - - - (501) - (348) Net cash provided by (used in) financing activities (3,254) - - - (1,001) (767) - (5,022) Increase (decrease) in cash and cash equivalents - - - - (86) (338) - (424) Cash and cash equivalents, beginning of period - - - - 385 3,525 - 3,910 Cash and cash equivalents, end of period $ - $ - $ - $ - $ 299 $ 3,187 $ - $ 3,486 Condensed Consolidating Statement of Cash Flows For the Six Months Ended June 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 $ (147) $ 12 $ (43) $ (41) $ (711) $ 8,477 $ - $ 7,547 Investing Activities Net transactions with affiliates 2,674 (12) 43 41 1,583 (4,329) - - Capital expenditures (4) - - - - (3,242) - (3,246) Cash paid for intangible assets (2) - - - - (475) - (477) Acquisitions and construction of real estate properties - - - - - (10) - (10) Acquisitions, net of cash acquired - - - - - (406) - (406) Proceeds from sales of businesses and investments - - - - 2 479 - 481 Purchases of investments (10) - - - (6) (61) - (77) Other - - - - 4 (157) - (153) Net cash provided by (used in) investing activities 2,658 (12) 43 41 1,583 (8,201) - (3,888) Financing Activities Proceeds from (repayments of) short-term borrowings, net (1,350) - - - - 1,007 - (343) Proceeds from borrowings 2,184 - - - - 3 - 2,187 Repurchases and repayments of debt (1,000) - - - (901) (1,262) - (3,163) Repurchases and retirements of common stock (1,500) - - - - - - (1,500) Dividends paid (1,092) - - - - - - (1,092) Issuances of common stock 29 - - - - - - 29 Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock - - - - - (117) - (117) Other 218 - - - - (67) - 151 Net cash provided by (used in) financing activities (2,511) - - - (901) (436) - (3,848) Increase (decrease) in cash and cash equivalents - - - - (29) (160) - (189) Cash and cash equivalents, beginning of period - - - - 336 1,382 - 1,718 Cash and cash equivalents, end of period $ - $ - $ - $ - $ 307 $ 1,222 $ - $ 1,529 |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Earnings Per Share | ||||
Net income attributable to Parent | $ 2,137 | $ 1,992 | $ 4,196 | $ 3,863 |
Basic shares attributable to Comcast Corporation shareholders | 2,500 | 2,594 | 2,510 | 2,598 |
Assumed exercise or issuance of shares relating to stock plans | 31 | 34 | 34 | 38 |
Diluted shares attributable to Comcast Corporation shareholders | 2,531 | 2,628 | 2,544 | 2,636 |
Basic earnings per common share attributable to Comcast Corporation shareholders | $ 0.85 | $ 0.77 | $ 1.67 | $ 1.49 |
Diluted earnings per common share attributable to Comcast Corporation shareholders | $ 0.84 | $ 0.76 | $ 1.65 | $ 1.47 |
Significant Transactions (Narra
Significant Transactions (Narrative) (Details) - Entity [Domain] - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Significant Transactions [Line Items] | ||||
Transaction costs and transaction-related costs | $ 99 | $ 44 | $ 198 | $ 61 |
Write-off of assets related to merger agreement termination | $ 20 | $ 20 |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Other noncurrent liabilities | $ 10,438 | $ 10,819 |
NBCUniversal Media, LLC [Member] | ||
Other noncurrent liabilities | 3,828 | $ 3,722 |
Carrying Value Of Related Party Contractual Obligation [Member] | NBCUniversal Media, LLC [Member] | ||
Other noncurrent liabilities | $ 383 |
Related Party Transactions - Co
Related Party Transactions - Condensed Consolidated Balance Sheet (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Receivables, net | $ 7,016 | $ 6,321 |
Accounts payable and accrued expenses related to trade creditors | 5,880 | 5,638 |
Accrued expenses and other current liabilities | 5,093 | 5,293 |
Other noncurrent liabilities | 10,438 | 10,819 |
NBCUniversal Media, LLC [Member] | ||
Receivables, net | 5,548 | 4,842 |
Accounts payable and accrued expenses related to trade creditors | 1,365 | 1,388 |
Accrued expenses and other current liabilities | 1,345 | 1,422 |
Note payable to Comcast | 597 | 865 |
Other noncurrent liabilities | 3,828 | 3,722 |
Transactions With Comcast And Consolidated Subsidiaries [Member] | NBCUniversal Media, LLC [Member] | ||
Receivables, net | 236 | 229 |
Accounts payable and accrued expenses related to trade creditors | 34 | 47 |
Accrued expenses and other current liabilities | 6 | 8 |
Note payable to Comcast | 597 | 865 |
Other noncurrent liabilities | $ 411 | $ 383 |
Related Party Transactions - 37
Related Party Transactions - Condensed Consolidated Statement of Income (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Revenue | $ 18,743 | $ 16,844 | $ 36,596 | $ 34,252 |
NBCUniversal Media, LLC [Member] | ||||
Revenue | 7,230 | 6,016 | 13,834 | 12,892 |
Transactions With Comcast And Consolidated Subsidiaries [Member] | NBCUniversal Media, LLC [Member] | ||||
Revenue | 330 | 331 | 672 | 685 |
Operating costs and expenses | (43) | (40) | (93) | (64) |
Other income (expense) | $ (9) | $ (13) | $ (18) | $ (22) |
Film and Television Costs (Film
Film and Television Costs (Film and Television Costs)(Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Film Costs | ||
Released, less amortization | $ 1,499 | $ 1,371 |
Completed, not released | 138 | 71 |
In production and in development | 856 | 1,189 |
Total film costs | 2,493 | 2,631 |
Television Costs | ||
Released, less amortization | 1,407 | 1,273 |
In production and in development | 624 | 505 |
Total television costs | 2,031 | 1,778 |
Programming rights, less amortization | 2,074 | 2,157 |
Total film costs, television costs and programming rights | 6,598 | 6,566 |
Less: Current portion of programming rights | 847 | 839 |
Film and television costs | 5,751 | 5,727 |
NBCUniversal Media, LLC [Member] | ||
Film Costs | ||
Released, less amortization | 1,499 | 1,371 |
Completed, not released | 138 | 71 |
In production and in development | 856 | 1,189 |
Total film costs | 2,493 | 2,631 |
Television Costs | ||
Released, less amortization | 1,407 | 1,273 |
In production and in development | 624 | 505 |
Total television costs | 2,031 | 1,778 |
Programming rights, less amortization | 2,051 | 2,130 |
Total film costs, television costs and programming rights | 6,575 | 6,539 |
Less: Current portion of programming rights | 831 | 825 |
Film and television costs | $ 5,744 | $ 5,714 |
Investments (Details)
Investments (Details) - Entity [Domain] - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Fair value method | $ 181 | $ 662 |
Equity method | 844 | 1,019 |
Cost method | 2,118 | 2,056 |
Total Investments | 3,143 | 3,737 |
Less: Current investments | 144 | 602 |
Noncurrent investments | 2,999 | 3,135 |
NBCUniversal Media, LLC [Member] | ||
Fair value method | 10 | 10 |
Equity method | 660 | 840 |
Cost method | 71 | 32 |
Total Investments | 741 | 882 |
Air Touch [Member] | ||
Cost method | 1,575 | 1,568 |
Other Investment [Member] | ||
Equity method | 491 | 517 |
Cost method | 543 | 488 |
Other Investment [Member] | NBCUniversal Media, LLC [Member] | ||
Equity method | 307 | 338 |
The Weather Channel [Member] | ||
Equity method | 86 | 335 |
The Weather Channel [Member] | NBCUniversal Media, LLC [Member] | ||
Equity method | 86 | 335 |
Hulu [Member] | ||
Equity method | 267 | 167 |
Hulu [Member] | NBCUniversal Media, LLC [Member] | ||
Equity method | $ 267 | $ 167 |
Investments (Investment Income
Investments (Investment Income (Loss), Net) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Gains on sales and exchanges of investments, net | $ 4 | $ 90 | $ 4 | $ 173 |
Investment impairment losses | (16) | (19) | (31) | (24) |
Unrealized gains (losses) on securities underlying prepaid forward sale agreements | 0 | 85 | 42 | (28) |
Mark to market adjustments on derivative component of prepaid forward sale agreements and indexed debt instruments | 1 | (85) | (37) | 32 |
Interest and dividend income | 28 | 28 | 56 | 56 |
Other, net | 0 | 21 | 16 | 24 |
Investment income (loss), net | 17 | 120 | 50 | 233 |
NBCUniversal Media, LLC [Member] | ||||
Investment income (loss), net | $ (2) | $ 9 | $ (4) | $ 15 |
Investments (Fair Value Method
Investments (Fair Value Method Investments) (Details) - Jun. 30, 2015 - Entity [Domain] - USD ($) $ in Millions | Total |
Prepaid forward sale liabilities carrying value | $ 0 |
Fair Value Equity Securities Settlement | $ 517 |
Investments (Equity Method Inve
Investments (Equity Method Investments) (Details) - The Weather Channel [Member] $ in Millions | 3 Months Ended |
Jun. 30, 2015USD ($) | |
Goodwill Impairment Loss From Equity Method Investments | $ 252 |
NBCUniversal Media, LLC [Member] | |
Goodwill Impairment Loss From Equity Method Investments | $ 252 |
Investments (Cost Method Invest
Investments (Cost Method Investments) (Details) - Air Touch [Member] $ in Billions | Jun. 30, 2015USD ($) |
Fair value of AirTouch preferred stock related to redeemable preferred shares | $ 1.7 |
Fair value of redeemable preferred shares | $ 1.7 |
Long-Term Debt (Narrative) (Det
Long-Term Debt (Narrative) (Details) - Jun. 30, 2015 - Debt Instrument, Name [Domain] - USD ($) $ in Millions | Total |
Total debt | $ 48,500 |
Long-term Debt, Fair Value | 53,200 |
Amounts available under revolving credit facilities | 6,700 |
NBCUniversal Media, LLC [Member] | |
Total debt | 9,200 |
Long-term Debt, Fair Value | $ 10,100 |
Comcast ownership in cable holding company subsidiaries | 100.00% |
NBCUniversal Enterprise Credit Facility [Member] | |
Amounts available under revolving credit facilities | $ 645 |
NBCUniversal Enterprise [Member] | |
Commercial paper | 705 |
NBCUniversal Enterprise [Member] | NBCUniversal Media, LLC [Member] | |
Related Party Aggregate Principal Amount Senior Notes Not Subject To Guarantee | 4,000 |
Related Party Credit Facility Not Subject To Guarantee | 1,350 |
Related Party Liquidation Preference Preferred Stock Not Subject To Guarantee | 725 |
Comcast And Comcast Cable Debt Securities [Member] | NBCUniversal Media, LLC [Member] | |
Guarantee Obligations Current Principal Balance | $ 33,900 |
Comcast And Comcast Cable Communications, LLC Revolving Credit Facility [Member] | NBCUniversal Media, LLC [Member] | |
Debt Instrument, Maturity Date, Description | 2,017 |
Revolver Line of credit amount outstanding | $ 0 |
Guarantee Obligations Current Principal Balance | $ 6,250 |
Long-Term Debt (Debt Borrowings
Long-Term Debt (Debt Borrowings)(Details) - Jun. 30, 2015 - USD ($) $ in Millions | Total |
Senior 3.375% Notes Due 2025 [Member] | |
Principal amount | $ 1,500 |
Interest rate | 3.375% |
Maturity date | 2,025 |
Senior 4.400% Notes Due 2035 [Member] | |
Principal amount | $ 800 |
Interest rate | 4.40% |
Maturity date | 2,035 |
Senior 4.600% Notes Due 2045 [Member] | |
Principal amount | $ 1,700 |
Interest rate | 4.60% |
Maturity date | 2,045 |
Long-term Debt (Debt Repayments
Long-term Debt (Debt Repayments) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2015 | Jun. 30, 2014 | |
Repurchases and repayments of debt | $ 3,666 | $ 3,163 | |
Loss on early extinguishment of debt | $ 47 | ||
NBCUniversal Media, LLC [Member] | |||
Repurchases and repayments of debt | 1,003 | $ 903 | |
Senior 6.50% Notes Due 2015 [Member] | |||
Repurchases and repayments of debt | $ 900 | ||
Interest rate | 6.50% | 6.50% | |
Maturity date | 2,015 | ||
Senior 3.65% Notes Due 2015 [Member] | |||
Repurchases and repayments of debt | $ 1,000 | ||
Interest rate | 3.65% | 3.65% | |
Maturity date | 2,015 | ||
Senior 3.65% Notes Due 2015 [Member] | NBCUniversal Media, LLC [Member] | |||
Repurchases and repayments of debt | $ 1,000 | ||
Interest rate | 3.65% | 3.65% | |
Maturity date | 2,015 | ||
Senior 5.85% Notes Due November 2015 [Member] | |||
Early repayment of senior debt | $ 750 | ||
Interest rate | 5.85% | 5.85% | |
Maturity date | November 2,015 | ||
Senior 5.90% Notes Due March 2016 [Member] | |||
Early repayment of senior debt | $ 1,000 | ||
Interest rate | 5.90% | 5.90% | |
Maturity date | March 2,016 |
Fair Value Measurements (Detail
Fair Value Measurements (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Trading securities | $ 37 | $ 523 |
Available-for-sale securities | 134 | 132 |
Interest rate swap agreements | 71 | 84 |
Other [assets] | 70 | 71 |
Fair Value, Assets Measured on Recurring Basis, Total | 312 | 810 |
Derivative component of prepaid forward sale agreements and indexed debt instruments | 4 | 361 |
Contractual obligations | 980 | 883 |
Contingent consideration | 0 | 644 |
Other [liabilities] | 10 | 8 |
Fair Value Liabilities Measured On Recurring Basis, Total | 994 | $ 1,896 |
Fair Value, Inputs, Level 1 [Member] | ||
Trading securities | 37 | |
Available-for-sale securities | 2 | |
Interest rate swap agreements | 0 | |
Other [assets] | 0 | |
Fair Value, Assets Measured on Recurring Basis, Total | 39 | |
Derivative component of prepaid forward sale agreements and indexed debt instruments | 0 | |
Contractual obligations | 0 | |
Contingent consideration | 0 | |
Other [liabilities] | 0 | |
Fair Value Liabilities Measured On Recurring Basis, Total | 0 | |
Fair Value, Inputs, Level 2 [Member] | ||
Trading securities | 0 | |
Available-for-sale securities | 122 | |
Interest rate swap agreements | 71 | |
Other [assets] | 60 | |
Fair Value, Assets Measured on Recurring Basis, Total | 253 | |
Derivative component of prepaid forward sale agreements and indexed debt instruments | 4 | |
Contractual obligations | 0 | |
Contingent consideration | 0 | |
Other [liabilities] | 10 | |
Fair Value Liabilities Measured On Recurring Basis, Total | 14 | |
Fair Value, Inputs, Level 3 [Member] | ||
Trading securities | 0 | |
Available-for-sale securities | 10 | |
Interest rate swap agreements | 0 | |
Other [assets] | 10 | |
Fair Value, Assets Measured on Recurring Basis, Total | 20 | |
Derivative component of prepaid forward sale agreements and indexed debt instruments | 0 | |
Contractual obligations | 980 | |
Contingent consideration | 0 | |
Other [liabilities] | 0 | |
Fair Value Liabilities Measured On Recurring Basis, Total | $ 980 |
Fair Value Disclosure Rollforwa
Fair Value Disclosure Rollforward (Details) - Jun. 30, 2015 - USD ($) $ in Millions | Total | Total |
NBCUniversal Enterprise [Member] | ||
Fair value of redeemable preferred stock | $ 748 | $ 748 |
Contingent Consideration Settlement [Member] | ||
Contingent Consideration, Amount of Settlement Payment | $ 450 | |
Gain related to contingent consideration settlement | 240 | |
Minimum [Member] | ||
Discount rate used to determine fair value | 12.00% | |
Minimum [Member] | NBCUniversal Media, LLC [Member] | ||
Discount rate used to determine fair value | 12.00% | |
Maximum [Member] | ||
Discount rate used to determine fair value | 13.00% | |
Maximum [Member] | NBCUniversal Media, LLC [Member] | ||
Discount rate used to determine fair value | 13.00% | |
Contractual Obligations [Member] | ||
Beginning balance | $ 883 | |
Fair value adjustments | 136 | |
Payments | (39) | |
Ending balance | 980 | 980 |
Contractual Obligations [Member] | NBCUniversal Media, LLC [Member] | ||
Beginning balance | 883 | |
Fair value adjustments | 136 | |
Payments | (39) | |
Ending balance | $ 980 | $ 980 |
Share-Based Compensation (Narra
Share-Based Compensation (Narrative) (Details) - Jun. 30, 2015 - USD ($) $ / shares in Units, shares in Millions, $ in Millions | Total |
Number of stock options granted | 17.6 |
Number of restricted share units granted | 5.1 |
Weighted average fair value of stock options granted | $ 11.79 |
Weighted average fair value of restricted share units granted | $ 59.5 |
Stock Options [Member] | |
Unrecognized pretax compensation expense on nonvested awards | $ 424 |
Restricted Share Units [Member] | |
Unrecognized pretax compensation expense on nonvested awards | $ 647 |
Share-Based Compensation (Recog
Share-Based Compensation (Recognized Share-Based Compensation Expense) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Recognized share-based compensation expense | $ 129 | $ 122 | $ 230 | $ 212 |
NBCUniversal Media, LLC [Member] | ||||
Recognized share-based compensation expense | 29 | 32 | 50 | 50 |
Stock Options [Member] | ||||
Recognized share-based compensation expense | 43 | 47 | 78 | 83 |
Stock Options [Member] | NBCUniversal Media, LLC [Member] | ||||
Recognized share-based compensation expense | 3 | 6 | 5 | 9 |
Restricted Share Units [Member] | ||||
Recognized share-based compensation expense | 80 | 68 | 138 | 116 |
Restricted Share Units [Member] | NBCUniversal Media, LLC [Member] | ||||
Recognized share-based compensation expense | 24 | 24 | 41 | 37 |
Employee Stock Purchase Plan [Member] | ||||
Recognized share-based compensation expense | 6 | 7 | 14 | 13 |
Employee Stock Purchase Plan [Member] | NBCUniversal Media, LLC [Member] | ||||
Recognized share-based compensation expense | $ 2 | $ 2 | $ 4 | $ 4 |
Supplemental Financial Inform51
Supplemental Financial Information (Receivables)(Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 |
Receivables, gross | $ 7,529 | $ 6,885 |
Less: Allowance for returns and customer incentives | 288 | 359 |
Less: Allowance for doubtful accounts | 225 | 205 |
Receivables, net | 7,016 | 6,321 |
NBCUniversal Media, LLC [Member] | ||
Receivables, gross | 5,897 | 5,258 |
Less: Allowance for returns and customer incentives | 285 | 356 |
Less: Allowance for doubtful accounts | 64 | 60 |
Receivables, net | $ 5,548 | $ 4,842 |
Supplemental Financial Inform52
Supplemental Financial Information (Components of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Unrealized gains (losses) on marketable securities | $ 1 | $ 4 | |
Deferred gains (losses) on cash flow hedges | (11) | (63) | |
Unrecognized gains (losses) on employee benefit obligations | (68) | 70 | |
Cumulative translation adjustments | (88) | (25) | |
Accumulated other comprehensive income (loss), net of deferred taxes | (166) | $ (146) | (14) |
NBCUniversal Media, LLC [Member] | |||
Unrealized gains (losses) on marketable securities | 0 | 5 | |
Deferred gains (losses) on cash flow hedges | 14 | (7) | |
Unrecognized gains (losses) on employee benefit obligations | (61) | 45 | |
Cumulative translation adjustments | (139) | (38) | |
Accumulated other comprehensive income (loss), net of deferred taxes | $ (186) | $ (159) | $ 5 |
Supplemental Financial Inform53
Supplemental Financial Information (Net Cash Provided by Operating Activities)(Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Net income | $ 2,175 | $ 2,025 | $ 4,316 | $ 3,963 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||
Depreciation and amortization | 2,161 | 2,000 | 4,227 | 3,970 |
Share-based compensation | 294 | 266 | ||
Noncash interest expense (income), net | 95 | 87 | ||
Equity in net (income) losses of investees, net | 236 | (22) | 203 | (54) |
Cash received from investees | 52 | 50 | ||
Net (gain) loss on investment activity and other | (437) | (113) | ||
Deferred income taxes | 111 | (22) | ||
Changes in operating assets and liabilities, net of effects of acquisitions and divestitures: | ||||
Current and noncurrent receivables, net | (707) | 60 | ||
Film and television costs, net | 176 | (28) | ||
Accounts payable and accrued expenses related to trade creditors (cash flow) | 109 | (168) | ||
Other operating assets and liabilities | 395 | (464) | ||
Net cash provided by operating activities | 8,834 | 7,547 | ||
NBCUniversal Media, LLC [Member] | ||||
Net income | 944 | 842 | 1,862 | 1,583 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||||
Depreciation and amortization | 405 | 370 | 769 | 735 |
Equity in net (income) losses of investees, net | $ 247 | $ (11) | 227 | (29) |
Cash received from investees | 38 | 35 | ||
Net (gain) loss on investment activity and other | (38) | 45 | ||
Deferred income taxes | (33) | 44 | ||
Changes in operating assets and liabilities, net of effects of acquisitions and divestitures: | ||||
Current and noncurrent receivables, net | (726) | 154 | ||
Film and television costs, net | 172 | (40) | ||
Accounts payable and accrued expenses related to trade creditors (cash flow) | 6 | (280) | ||
Other operating assets and liabilities | 344 | (458) | ||
Net cash provided by operating activities | $ 2,621 | $ 1,789 |
Supplemental Financial Inform54
Supplemental Financial Information (Cash Payments for Interest and Income Taxes)(Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Interest | $ 550 | $ 541 | $ 1,241 | $ 1,164 |
Income taxes | 1,881 | 1,718 | 1,999 | 1,904 |
NBCUniversal Media, LLC [Member] | ||||
Interest | 209 | 220 | 242 | 256 |
Income taxes | $ 45 | $ 57 | $ 85 | $ 110 |
Supplemental Financial Inform55
Supplemental Financial Information (Noncash Investing and Financing Activities)(Details) - Jun. 30, 2015 - Entity [Domain] - USD ($) $ / shares in Units, $ in Millions | Total |
Dividends payable, amount | $ 624 |
Dividends payable, amount per share | $ 0.25 |
Capital expenditures incurred but not yet paid | $ 964 |
Fair Value Equity Securities Settlement | 517 |
NBCUniversal Media, LLC [Member] | |
Capital expenditures incurred but not yet paid | 140 |
Contribution from member | $ 252 |
Financial Data by Business Se56
Financial Data by Business Segment (Details) - Consolidation Items [Domain] - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Revenue | $ 18,743 | $ 16,844 | $ 36,596 | $ 34,252 |
Operating income (loss) before depreciation and amortization | 6,266 | 5,804 | 12,222 | 11,342 |
Depreciation and amortization | 2,161 | 2,000 | 4,227 | 3,970 |
Operating income (loss) | 4,105 | 3,804 | 7,995 | 7,372 |
Capital expenditures | $ 1,971 | $ 1,798 | $ 3,697 | $ 3,246 |
Cable segment revenue types as percentage of total cable revenue | 100.00% | 100.00% | 100.00% | 100.00% |
NBCUniversal Media, LLC [Member] | ||||
Revenue | $ 7,230 | $ 6,016 | $ 13,834 | $ 12,892 |
Operating income (loss) before depreciation and amortization | 1,712 | 1,434 | 3,206 | 2,745 |
Depreciation and amortization | 405 | 370 | 769 | 735 |
Operating income (loss) | 1,307 | 1,064 | 2,437 | 2,010 |
Capital expenditures | 272 | 298 | 540 | 589 |
Cable Communications [Member] | ||||
Revenue | 11,729 | 11,029 | 23,159 | 21,786 |
Operating income (loss) before depreciation and amortization | 4,798 | 4,564 | 9,472 | 8,964 |
Depreciation and amortization | 1,726 | 1,604 | 3,401 | 3,188 |
Operating income (loss) | 3,072 | 2,960 | 6,071 | 5,776 |
Capital expenditures | 1,676 | 1,493 | 3,121 | 2,638 |
Cable Networks [Member] | ||||
Revenue | 2,450 | 2,476 | 4,809 | 4,981 |
Operating income (loss) before depreciation and amortization | 872 | 914 | 1,770 | 1,809 |
Depreciation and amortization | 211 | 180 | 395 | 369 |
Operating income (loss) | 661 | 734 | 1,375 | 1,440 |
Capital expenditures | 5 | 8 | 11 | 19 |
Cable Networks [Member] | NBCUniversal Media, LLC [Member] | ||||
Revenue | 2,450 | 2,476 | 4,809 | 4,981 |
Operating income (loss) before depreciation and amortization | 872 | 914 | 1,770 | 1,809 |
Depreciation and amortization | 211 | 180 | 395 | 369 |
Operating income (loss) | 661 | 734 | 1,375 | 1,440 |
Capital expenditures | 5 | 8 | 11 | 19 |
Broadcast Television [Member] | ||||
Revenue | 1,813 | 1,816 | 4,061 | 4,437 |
Operating income (loss) before depreciation and amortization | 231 | 240 | 413 | 362 |
Depreciation and amortization | 30 | 27 | 59 | 54 |
Operating income (loss) | 201 | 213 | 354 | 308 |
Capital expenditures | 14 | 26 | 25 | 37 |
Broadcast Television [Member] | NBCUniversal Media, LLC [Member] | ||||
Revenue | 1,813 | 1,816 | 4,061 | 4,437 |
Operating income (loss) before depreciation and amortization | 231 | 240 | 413 | 362 |
Depreciation and amortization | 30 | 27 | 59 | 54 |
Operating income (loss) | 201 | 213 | 354 | 308 |
Capital expenditures | 14 | 26 | 25 | 37 |
Filmed Entertainment [Member] | ||||
Revenue | 2,266 | 1,176 | 3,712 | 2,527 |
Operating income (loss) before depreciation and amortization | 422 | 195 | 715 | 483 |
Depreciation and amortization | 6 | 5 | 11 | 10 |
Operating income (loss) | 416 | 190 | 704 | 473 |
Capital expenditures | 4 | 3 | 5 | 4 |
Filmed Entertainment [Member] | NBCUniversal Media, LLC [Member] | ||||
Revenue | 2,266 | 1,176 | 3,712 | 2,527 |
Operating income (loss) before depreciation and amortization | 422 | 195 | 715 | 483 |
Depreciation and amortization | 6 | 5 | 11 | 10 |
Operating income (loss) | 416 | 190 | 704 | 473 |
Capital expenditures | 4 | 3 | 5 | 4 |
Theme Parks [Member] | ||||
Revenue | 773 | 615 | 1,424 | 1,102 |
Operating income (loss) before depreciation and amortization | 354 | 244 | 617 | 414 |
Depreciation and amortization | 76 | 73 | 142 | 142 |
Operating income (loss) | 278 | 171 | 475 | 272 |
Capital expenditures | 166 | 158 | 328 | 302 |
Theme Parks [Member] | NBCUniversal Media, LLC [Member] | ||||
Revenue | 773 | 615 | 1,424 | 1,102 |
Operating income (loss) before depreciation and amortization | 354 | 244 | 617 | 414 |
Depreciation and amortization | 76 | 73 | 142 | 142 |
Operating income (loss) | 278 | 171 | 475 | 272 |
Capital expenditures | 166 | 158 | 328 | 302 |
Headquarters And Other [Member] | ||||
Revenue | 3 | 4 | 7 | 6 |
Operating income (loss) before depreciation and amortization | (169) | (159) | (309) | (322) |
Depreciation and amortization | 82 | 85 | 162 | 160 |
Operating income (loss) | (251) | (244) | (471) | (482) |
Capital expenditures | 83 | 103 | 171 | 227 |
Headquarters And Other [Member] | NBCUniversal Media, LLC [Member] | ||||
Revenue | 3 | 4 | 7 | 6 |
Operating income (loss) before depreciation and amortization | (169) | (159) | (309) | (322) |
Depreciation and amortization | 82 | 85 | 162 | 160 |
Operating income (loss) | (251) | (244) | (471) | (482) |
Capital expenditures | 83 | 103 | 171 | 227 |
NBCUniversal Eliminations [Member] | ||||
Revenue | (75) | (71) | (179) | (161) |
Operating income (loss) before depreciation and amortization | 2 | 0 | 0 | (1) |
Depreciation and amortization | 0 | 0 | 0 | 0 |
Operating income (loss) | 2 | 0 | 0 | (1) |
Capital expenditures | 0 | 0 | 0 | 0 |
NBCUniversal Eliminations [Member] | NBCUniversal Media, LLC [Member] | ||||
Revenue | (75) | (71) | (179) | (161) |
Operating income (loss) before depreciation and amortization | 2 | 0 | 0 | (1) |
Depreciation and amortization | 0 | 0 | 0 | 0 |
Operating income (loss) | 2 | 0 | 0 | (1) |
Capital expenditures | 0 | 0 | 0 | 0 |
NBCUniversal [Member] | ||||
Revenue | 7,230 | 6,016 | 13,834 | 12,892 |
Operating income (loss) before depreciation and amortization | 1,712 | 1,434 | 3,206 | 2,745 |
Depreciation and amortization | 405 | 370 | 769 | 735 |
Operating income (loss) | 1,307 | 1,064 | 2,437 | 2,010 |
Capital expenditures | 272 | 298 | 540 | 589 |
Corporate and Other [Member] | ||||
Revenue | 176 | 172 | 380 | 346 |
Operating income (loss) before depreciation and amortization | (252) | (182) | (477) | (335) |
Depreciation and amortization | 30 | 26 | 57 | 47 |
Operating income (loss) | (282) | (208) | (534) | (382) |
Capital expenditures | 23 | 7 | 36 | 19 |
Eliminations [Member] | ||||
Revenue | (392) | (373) | (777) | (772) |
Operating income (loss) before depreciation and amortization | 8 | (12) | 21 | (32) |
Depreciation and amortization | 0 | 0 | 0 | 0 |
Operating income (loss) | 8 | (12) | 21 | (32) |
Capital expenditures | $ 0 | $ 0 | $ 0 | $ 0 |
Cable Communications Segment Revenue Percentage-Video [Member] | ||||
Cable segment revenue types as percentage of total cable revenue | 46.30% | 47.50% | 46.50% | 47.80% |
Cable Communications Segment Revenue Percentage - High-speed Internet [Member] | ||||
Cable segment revenue types as percentage of total cable revenue | 26.40% | 25.60% | 26.50% | 25.60% |
Cable Communications Segment Revenue Percentage- Voice [Member] | ||||
Cable segment revenue types as percentage of total cable revenue | 7.70% | 8.40% | 7.80% | 8.50% |
Cable Communications Segment Revenue Percentage- Business Services [Member] | ||||
Cable segment revenue types as percentage of total cable revenue | 9.90% | 8.70% | 9.80% | 8.60% |
Cable Communications Segment Revenue Percentage- Advertising [Member] | ||||
Cable segment revenue types as percentage of total cable revenue | 5.00% | 5.30% | 4.70% | 5.00% |
Cable Communications Segment Revenue Percentage- Other [Member] | ||||
Cable segment revenue types as percentage of total cable revenue | 4.70% | 4.50% | 4.70% | 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% | 2.80% | 2.80% | 2.80% |
Condensed Consolidating Finan57
Condensed Consolidating Financial Information (Narrative) (Details) - Jun. 30, 2015 - USD ($) $ in Millions | Total |
Comcast Holdings' ZONES due October 2029 [Member] | |
Debt Instrument, Maturity Date, Description | October 2,029 |
Principal amount of debt securities subject to guarantee | $ 185 |
Comcast Holdings' ZONES due November 2029 [Member] | |
Debt Instrument, Maturity Date, Description | November 2,029 |
Principal amount of debt securities not subject to guarantee | $ 62 |
NBCUniversal Enterprise Credit Facility [Member] | |
Debt Instrument, Maturity Date, Description | March 2,018 |
Principal amount of debt securities subject to guarantee | $ 1,350 |
Comcast And Comcast Cable Communications, LLC Revolving Credit Facility [Member] | |
Debt Instrument, Maturity Date, Description | June 2,017 |
Principal amount of debt securities subject to guarantee | $ 6,250 |
NBCUniversal Enterprise Senior Unsecured Debt Securities [Member] | |
Principal amount of debt securities subject to guarantee | $ 4,000 |
Condensed Consolidating Finan58
Condensed Consolidating Financial Information (Condensed Consolidating Balance Sheet) (Details) - USD ($) $ in Millions | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
Assets | ||||
Cash and cash equivalents | $ 3,486 | $ 3,910 | $ 1,529 | $ 1,718 |
Investments [Current] | 144 | 602 | ||
Receivables, net | 7,016 | 6,321 | ||
Programming rights | 847 | 839 | ||
Other current assets | 1,826 | 1,859 | ||
Total current assets | 13,319 | 13,531 | ||
Film and television costs | 5,751 | 5,727 | ||
Investments | 2,999 | 3,135 | ||
Investments in and amounts due from subsidiaries eliminated upon consolidation | 0 | 0 | ||
Property and equipment, net | 31,572 | 30,953 | ||
Franchise rights | 59,364 | 59,364 | ||
Goodwill | 27,422 | 27,316 | ||
Other intangible assets, net | 16,802 | 16,980 | ||
Other noncurrent assets, net | 2,445 | 2,333 | ||
Total assets | 159,674 | 159,339 | ||
Liabilities and Equity | ||||
Accounts payable and accrued expenses related to trade creditors | 5,880 | 5,638 | ||
Accrued participations and residuals | 1,583 | 1,347 | ||
Accrued expenses and other current liabilities [condensed] | 6,215 | 6,208 | ||
Current portion of long-term debt | 3,887 | 4,217 | ||
Total current liabilities | 17,565 | 17,410 | ||
Long-term debt, less current portion | 44,636 | 44,017 | ||
Deferred income taxes | 33,198 | 32,959 | ||
Other noncurrent liabilities | 10,438 | 10,819 | ||
Redeemable noncontrolling interests and redeemable subsidiary preferred stock | 1,108 | 1,066 | ||
Equity: | ||||
Common stock | 29 | 30 | ||
Other shareholders' equity | 52,371 | 52,681 | ||
Total Comcast Corporation shareholders' equity | 52,400 | 52,711 | ||
Noncontrolling interests | 329 | 357 | ||
Total equity | 52,729 | 53,068 | 52,332 | 51,058 |
Total liabilities and equity | 159,674 | 159,339 | ||
Comcast Parent [Member] | ||||
Assets | ||||
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Investments [Current] | 0 | 0 | ||
Receivables, net | 0 | 0 | ||
Programming rights | 0 | 0 | ||
Other current assets | 363 | 267 | ||
Total current assets | 363 | 267 | ||
Film and television costs | 0 | 0 | ||
Investments | 29 | 36 | ||
Investments in and amounts due from subsidiaries eliminated upon consolidation | 85,330 | 84,142 | ||
Property and equipment, net | 203 | 199 | ||
Franchise rights | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Other intangible assets, net | 10 | 11 | ||
Other noncurrent assets, net | 1,223 | 1,224 | ||
Total assets | 87,158 | 85,879 | ||
Liabilities and Equity | ||||
Accounts payable and accrued expenses related to trade creditors | 18 | 19 | ||
Accrued participations and residuals | 0 | 0 | ||
Accrued expenses and other current liabilities [condensed] | 1,838 | 1,547 | ||
Current portion of long-term debt | 750 | 1,650 | ||
Total current liabilities | 2,606 | 3,216 | ||
Long-term debt, less current portion | 29,857 | 27,616 | ||
Deferred income taxes | 0 | 0 | ||
Other noncurrent liabilities | 2,295 | 2,336 | ||
Redeemable noncontrolling interests and redeemable subsidiary preferred stock | 0 | 0 | ||
Equity: | ||||
Common stock | 29 | 30 | ||
Other shareholders' equity | 52,371 | 52,681 | ||
Total Comcast Corporation shareholders' equity | 52,400 | 52,711 | ||
Noncontrolling interests | 0 | 0 | ||
Total equity | 52,400 | 52,711 | ||
Total liabilities and equity | 87,158 | 85,879 | ||
Comcast Holdings [Member] | ||||
Assets | ||||
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Investments [Current] | 0 | 0 | ||
Receivables, net | 0 | 0 | ||
Programming rights | 0 | 0 | ||
Other current assets | 0 | 0 | ||
Total current assets | 0 | 0 | ||
Film and television costs | 0 | 0 | ||
Investments | 0 | 0 | ||
Investments in and amounts due from subsidiaries eliminated upon consolidation | 107,732 | 103,420 | ||
Property and equipment, net | 0 | 0 | ||
Franchise rights | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Other intangible assets, net | 0 | 0 | ||
Other noncurrent assets, net | 148 | 148 | ||
Total assets | 107,880 | 103,568 | ||
Liabilities and Equity | ||||
Accounts payable and accrued expenses related to trade creditors | 0 | 0 | ||
Accrued participations and residuals | 0 | 0 | ||
Accrued expenses and other current liabilities [condensed] | 283 | 283 | ||
Current portion of long-term debt | 0 | 0 | ||
Total current liabilities | 283 | 283 | ||
Long-term debt, less current portion | 128 | 126 | ||
Deferred income taxes | 662 | 701 | ||
Other noncurrent liabilities | 0 | 0 | ||
Redeemable noncontrolling interests and redeemable subsidiary preferred stock | 0 | 0 | ||
Equity: | ||||
Common stock | 0 | 0 | ||
Other shareholders' equity | 106,807 | 102,458 | ||
Total Comcast Corporation shareholders' equity | 106,807 | 102,458 | ||
Noncontrolling interests | 0 | 0 | ||
Total equity | 106,807 | 102,458 | ||
Total liabilities and equity | 107,880 | 103,568 | ||
CCCL Parent [Member] | ||||
Assets | ||||
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Investments [Current] | 0 | 0 | ||
Receivables, net | 0 | 0 | ||
Programming rights | 0 | 0 | ||
Other current assets | 0 | 0 | ||
Total current assets | 0 | 0 | ||
Film and television costs | 0 | 0 | ||
Investments | 0 | 0 | ||
Investments in and amounts due from subsidiaries eliminated upon consolidation | 114,403 | 110,323 | ||
Property and equipment, net | 0 | 0 | ||
Franchise rights | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Other intangible assets, net | 0 | 0 | ||
Other noncurrent assets, net | 0 | 0 | ||
Total assets | 114,403 | 110,323 | ||
Liabilities and Equity | ||||
Accounts payable and accrued expenses related to trade creditors | 0 | 0 | ||
Accrued participations and residuals | 0 | 0 | ||
Accrued expenses and other current liabilities [condensed] | 219 | 233 | ||
Current portion of long-term debt | 0 | 0 | ||
Total current liabilities | 219 | 233 | ||
Long-term debt, less current portion | 1,828 | 1,827 | ||
Deferred income taxes | 0 | 0 | ||
Other noncurrent liabilities | 0 | 0 | ||
Redeemable noncontrolling interests and redeemable subsidiary preferred stock | 0 | 0 | ||
Equity: | ||||
Common stock | 0 | 0 | ||
Other shareholders' equity | 112,356 | 108,263 | ||
Total Comcast Corporation shareholders' equity | 112,356 | 108,263 | ||
Noncontrolling interests | 0 | 0 | ||
Total equity | 112,356 | 108,263 | ||
Total liabilities and equity | 114,403 | 110,323 | ||
Combined CCHMO Parents [Member] | ||||
Assets | ||||
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Investments [Current] | 0 | 0 | ||
Receivables, net | 0 | 0 | ||
Programming rights | 0 | 0 | ||
Other current assets | 0 | 0 | ||
Total current assets | 0 | 0 | ||
Film and television costs | 0 | 0 | ||
Investments | 0 | 0 | ||
Investments in and amounts due from subsidiaries eliminated upon consolidation | 62,010 | 58,677 | ||
Property and equipment, net | 0 | 0 | ||
Franchise rights | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Other intangible assets, net | 0 | 0 | ||
Other noncurrent assets, net | 0 | 0 | ||
Total assets | 62,010 | 58,677 | ||
Liabilities and Equity | ||||
Accounts payable and accrued expenses related to trade creditors | 0 | 1 | ||
Accrued participations and residuals | 0 | 0 | ||
Accrued expenses and other current liabilities [condensed] | 49 | 47 | ||
Current portion of long-term debt | 674 | 677 | ||
Total current liabilities | 723 | 725 | ||
Long-term debt, less current portion | 822 | 822 | ||
Deferred income taxes | 0 | 0 | ||
Other noncurrent liabilities | 0 | 0 | ||
Redeemable noncontrolling interests and redeemable subsidiary preferred stock | 0 | 0 | ||
Equity: | ||||
Common stock | 0 | 0 | ||
Other shareholders' equity | 60,465 | 57,130 | ||
Total Comcast Corporation shareholders' equity | 60,465 | 57,130 | ||
Noncontrolling interests | 0 | 0 | ||
Total equity | 60,465 | 57,130 | ||
Total liabilities and equity | 62,010 | 58,677 | ||
NBCUniversal Media Parent [Member] | ||||
Assets | ||||
Cash and cash equivalents | 299 | 385 | 307 | 336 |
Investments [Current] | 0 | 0 | ||
Receivables, net | 0 | 0 | ||
Programming rights | 0 | 0 | ||
Other current assets | 41 | 41 | ||
Total current assets | 340 | 426 | ||
Film and television costs | 0 | 0 | ||
Investments | 110 | 378 | ||
Investments in and amounts due from subsidiaries eliminated upon consolidation | 41,566 | 41,239 | ||
Property and equipment, net | 0 | 0 | ||
Franchise rights | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Other intangible assets, net | 0 | 0 | ||
Other noncurrent assets, net | 91 | 92 | ||
Total assets | 42,107 | 42,135 | ||
Liabilities and Equity | ||||
Accounts payable and accrued expenses related to trade creditors | 0 | 0 | ||
Accrued participations and residuals | 0 | 0 | ||
Accrued expenses and other current liabilities [condensed] | 341 | 331 | ||
Current portion of long-term debt | 1,004 | 1,006 | ||
Total current liabilities | 1,345 | 1,337 | ||
Long-term debt, less current portion | 8,214 | 9,218 | ||
Deferred income taxes | 59 | 67 | ||
Other noncurrent liabilities | 1,122 | 1,143 | ||
Redeemable noncontrolling interests and redeemable subsidiary preferred stock | 0 | 0 | ||
Equity: | ||||
Common stock | 0 | 0 | ||
Other shareholders' equity | 31,367 | 30,370 | ||
Total Comcast Corporation shareholders' equity | 31,367 | 30,370 | ||
Noncontrolling interests | 0 | 0 | ||
Total equity | 31,367 | 30,370 | ||
Total liabilities and equity | 42,107 | 42,135 | ||
Comcast Non-Guarantor Subsidiaries [Member] | ||||
Assets | ||||
Cash and cash equivalents | 3,187 | 3,525 | 1,222 | 1,382 |
Investments [Current] | 144 | 602 | ||
Receivables, net | 7,016 | 6,321 | ||
Programming rights | 847 | 839 | ||
Other current assets | 1,422 | 1,551 | ||
Total current assets | 12,616 | 12,838 | ||
Film and television costs | 5,751 | 5,727 | ||
Investments | 2,860 | 2,721 | ||
Investments in and amounts due from subsidiaries eliminated upon consolidation | 103,682 | 98,152 | ||
Property and equipment, net | 31,369 | 30,754 | ||
Franchise rights | 59,364 | 59,364 | ||
Goodwill | 27,422 | 27,316 | ||
Other intangible assets, net | 16,792 | 16,969 | ||
Other noncurrent assets, net | 2,048 | 1,949 | ||
Total assets | 261,904 | 255,790 | ||
Liabilities and Equity | ||||
Accounts payable and accrued expenses related to trade creditors | 5,862 | 5,618 | ||
Accrued participations and residuals | 1,583 | 1,347 | ||
Accrued expenses and other current liabilities [condensed] | 3,485 | 3,767 | ||
Current portion of long-term debt | 1,459 | 884 | ||
Total current liabilities | 12,389 | 11,616 | ||
Long-term debt, less current portion | 3,787 | 4,408 | ||
Deferred income taxes | 33,398 | 33,127 | ||
Other noncurrent liabilities | 7,165 | 7,484 | ||
Redeemable noncontrolling interests and redeemable subsidiary preferred stock | 1,108 | 1,066 | ||
Equity: | ||||
Common stock | 0 | 0 | ||
Other shareholders' equity | 203,728 | 197,732 | ||
Total Comcast Corporation shareholders' equity | 203,728 | 197,732 | ||
Noncontrolling interests | 329 | 357 | ||
Total equity | 204,057 | 198,089 | ||
Total liabilities and equity | 261,904 | 255,790 | ||
Elimination and Consolidation Adjustments [Member] | ||||
Assets | ||||
Cash and cash equivalents | 0 | 0 | $ 0 | $ 0 |
Investments [Current] | 0 | 0 | ||
Receivables, net | 0 | 0 | ||
Programming rights | 0 | 0 | ||
Other current assets | 0 | 0 | ||
Total current assets | 0 | 0 | ||
Film and television costs | 0 | 0 | ||
Investments | 0 | 0 | ||
Investments in and amounts due from subsidiaries eliminated upon consolidation | (514,723) | (495,953) | ||
Property and equipment, net | 0 | 0 | ||
Franchise rights | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Other intangible assets, net | 0 | 0 | ||
Other noncurrent assets, net | (1,065) | (1,080) | ||
Total assets | (515,788) | (497,033) | ||
Liabilities and Equity | ||||
Accounts payable and accrued expenses related to trade creditors | 0 | 0 | ||
Accrued participations and residuals | 0 | 0 | ||
Accrued expenses and other current liabilities [condensed] | 0 | 0 | ||
Current portion of long-term debt | 0 | 0 | ||
Total current liabilities | 0 | 0 | ||
Long-term debt, less current portion | 0 | 0 | ||
Deferred income taxes | (921) | (936) | ||
Other noncurrent liabilities | (144) | (144) | ||
Redeemable noncontrolling interests and redeemable subsidiary preferred stock | 0 | 0 | ||
Equity: | ||||
Common stock | 0 | 0 | ||
Other shareholders' equity | (514,723) | (495,953) | ||
Total Comcast Corporation shareholders' equity | (514,723) | (495,953) | ||
Noncontrolling interests | 0 | 0 | ||
Total equity | (514,723) | (495,953) | ||
Total liabilities and equity | $ (515,788) | $ (497,033) |
Condensed Consolidating Finan59
Condensed Consolidating Financial Information (Condensed Consolidating Statement of Income) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Service revenue | $ 18,743 | $ 16,844 | $ 36,596 | $ 34,252 |
Management fee revenue | 0 | 0 | 0 | 0 |
Revenue | 18,743 | 16,844 | 36,596 | 34,252 |
Costs and Expenses: | ||||
Programming and production | 5,669 | 4,874 | 11,132 | 10,782 |
Other operating and administrative | 5,280 | 4,922 | 10,359 | 9,671 |
Advertising, marketing and promotion | 1,528 | 1,244 | 2,883 | 2,457 |
Depreciation | 1,674 | 1,599 | 3,308 | 3,168 |
Amortization | 487 | 401 | 919 | 802 |
Costs and expenses, total | 14,638 | 13,040 | 28,601 | 26,880 |
Operating income (loss) | 4,105 | 3,804 | 7,995 | 7,372 |
Other Income (Expense): | ||||
Interest expense | (713) | (648) | (1,369) | (1,290) |
Investment income (loss), net | 17 | 120 | 50 | 233 |
Equity in net income (losses) of investees, net | (236) | 22 | (203) | 54 |
Other income (expense), net | 315 | (39) | 417 | (54) |
Nonoperating income (Expense), Total | (617) | (545) | (1,105) | (1,057) |
Income (loss) before income taxes | 3,488 | 3,259 | 6,890 | 6,315 |
Income tax (expense) benefit | (1,313) | (1,234) | (2,574) | (2,352) |
Net income (loss) | 2,175 | 2,025 | 4,316 | 3,963 |
Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock | (38) | (33) | (120) | (100) |
Net income (loss) attributable to Parent | 2,137 | 1,992 | 4,196 | 3,863 |
Comprehensive income attributable to Parent | 2,159 | 1,945 | 4,176 | 3,793 |
Elimination and Consolidation Adjustments [Member] | ||||
Service revenue | 0 | 0 | 0 | 0 |
Management fee revenue | (654) | (613) | (1,285) | (1,207) |
Revenue | (654) | (613) | (1,285) | (1,207) |
Costs and Expenses: | ||||
Programming and production | 0 | 0 | 0 | 0 |
Other operating and administrative | (654) | (613) | (1,285) | (1,207) |
Advertising, marketing and promotion | 0 | 0 | 0 | 0 |
Depreciation | 0 | 0 | 0 | 0 |
Amortization | 0 | 0 | 0 | 0 |
Costs and expenses, total | (654) | (613) | (1,285) | (1,207) |
Operating income (loss) | 0 | 0 | 0 | 0 |
Other Income (Expense): | ||||
Interest expense | 0 | 0 | 0 | 0 |
Investment income (loss), net | 0 | 0 | 0 | 0 |
Equity in net income (losses) of investees, net | (10,500) | (9,443) | (20,750) | (19,177) |
Other income (expense), net | 0 | 0 | 0 | 0 |
Nonoperating income (Expense), Total | (10,500) | (9,443) | (20,750) | (19,177) |
Income (loss) before income taxes | (10,500) | (9,443) | (20,750) | (19,177) |
Income tax (expense) benefit | 0 | 0 | 0 | 0 |
Net income (loss) | (10,500) | (9,443) | (20,750) | (19,177) |
Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock | 0 | 0 | 0 | 0 |
Net income (loss) attributable to Parent | (10,500) | (9,443) | (20,750) | (19,177) |
Comprehensive income attributable to Parent | (10,532) | (9,424) | (20,712) | (19,143) |
Comcast Parent [Member] | ||||
Service revenue | 0 | 0 | 0 | 0 |
Management fee revenue | 252 | 237 | 496 | 467 |
Revenue | 252 | 237 | 496 | 467 |
Costs and Expenses: | ||||
Programming and production | 0 | 0 | 0 | 0 |
Other operating and administrative | 225 | 181 | 451 | 274 |
Advertising, marketing and promotion | 0 | 0 | 0 | 0 |
Depreciation | 7 | 8 | 15 | 15 |
Amortization | 2 | 2 | 3 | 3 |
Costs and expenses, total | 234 | 191 | 469 | 292 |
Operating income (loss) | 18 | 46 | 27 | 175 |
Other Income (Expense): | ||||
Interest expense | (472) | (400) | (882) | (787) |
Investment income (loss), net | 0 | 1 | 1 | 2 |
Equity in net income (losses) of investees, net | 2,431 | 2,222 | 4,753 | 4,260 |
Other income (expense), net | 2 | 0 | (3) | 0 |
Nonoperating income (Expense), Total | 1,961 | 1,823 | 3,869 | 3,475 |
Income (loss) before income taxes | 1,979 | 1,869 | 3,896 | 3,650 |
Income tax (expense) benefit | 158 | 123 | 300 | 213 |
Net income (loss) | 2,137 | 1,992 | 4,196 | 3,863 |
Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock | 0 | 0 | 0 | 0 |
Net income (loss) attributable to Parent | 2,137 | 1,992 | 4,196 | 3,863 |
Comprehensive income attributable to Parent | 2,159 | 1,945 | 4,176 | 3,793 |
Comcast Holdings [Member] | ||||
Service revenue | 0 | 0 | 0 | 0 |
Management fee revenue | 0 | 0 | 0 | 0 |
Revenue | 0 | 0 | 0 | 0 |
Costs and Expenses: | ||||
Programming and production | 0 | 0 | 0 | 0 |
Other operating and administrative | 0 | 0 | 0 | 0 |
Advertising, marketing and promotion | 0 | 0 | 0 | 0 |
Depreciation | 0 | 0 | 0 | 0 |
Amortization | 0 | 0 | 0 | 0 |
Costs and expenses, total | 0 | 0 | 0 | 0 |
Operating income (loss) | 0 | 0 | 0 | 0 |
Other Income (Expense): | ||||
Interest expense | (3) | (3) | (6) | (6) |
Investment income (loss), net | (1) | 0 | 1 | 3 |
Equity in net income (losses) of investees, net | 2,162 | 1,908 | 4,388 | 4,175 |
Other income (expense), net | 0 | 0 | 0 | 0 |
Nonoperating income (Expense), Total | 2,158 | 1,905 | 4,383 | 4,172 |
Income (loss) before income taxes | 2,158 | 1,905 | 4,383 | 4,172 |
Income tax (expense) benefit | 2 | 1 | 2 | 1 |
Net income (loss) | 2,160 | 1,906 | 4,385 | 4,173 |
Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock | 0 | 0 | 0 | 0 |
Net income (loss) attributable to Parent | 2,160 | 1,906 | 4,385 | 4,173 |
Comprehensive income attributable to Parent | 2,168 | 1,912 | 4,377 | 4,181 |
CCCL Parent [Member] | ||||
Service revenue | 0 | 0 | 0 | 0 |
Management fee revenue | 246 | 231 | 483 | 454 |
Revenue | 246 | 231 | 483 | 454 |
Costs and Expenses: | ||||
Programming and production | 0 | 0 | 0 | 0 |
Other operating and administrative | 246 | 231 | 483 | 454 |
Advertising, marketing and promotion | 0 | 0 | 0 | 0 |
Depreciation | 0 | 0 | 0 | 0 |
Amortization | 0 | 0 | 0 | 0 |
Costs and expenses, total | 246 | 231 | 483 | 454 |
Operating income (loss) | 0 | 0 | 0 | 0 |
Other Income (Expense): | ||||
Interest expense | (43) | (44) | (87) | (89) |
Investment income (loss), net | 0 | 0 | 0 | 0 |
Equity in net income (losses) of investees, net | 2,001 | 1,774 | 3,974 | 3,939 |
Other income (expense), net | 0 | 0 | 0 | 0 |
Nonoperating income (Expense), Total | 1,958 | 1,730 | 3,887 | 3,850 |
Income (loss) before income taxes | 1,958 | 1,730 | 3,887 | 3,850 |
Income tax (expense) benefit | 15 | 15 | 30 | 31 |
Net income (loss) | 1,973 | 1,745 | 3,917 | 3,881 |
Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock | 0 | 0 | 0 | 0 |
Net income (loss) attributable to Parent | 1,973 | 1,745 | 3,917 | 3,881 |
Comprehensive income attributable to Parent | 1,973 | 1,744 | 3,916 | 3,882 |
Combined CCHMO Parents [Member] | ||||
Service revenue | 0 | 0 | 0 | 0 |
Management fee revenue | 156 | 145 | 306 | 286 |
Revenue | 156 | 145 | 306 | 286 |
Costs and Expenses: | ||||
Programming and production | 0 | 0 | 0 | 0 |
Other operating and administrative | 156 | 145 | 306 | 286 |
Advertising, marketing and promotion | 0 | 0 | 0 | 0 |
Depreciation | 0 | 0 | 0 | 0 |
Amortization | 0 | 0 | 0 | 0 |
Costs and expenses, total | 156 | 145 | 306 | 286 |
Operating income (loss) | 0 | 0 | 0 | 0 |
Other Income (Expense): | ||||
Interest expense | (30) | (30) | (59) | (59) |
Investment income (loss), net | 0 | 0 | 0 | 0 |
Equity in net income (losses) of investees, net | 1,713 | 1,554 | 3,359 | 3,065 |
Other income (expense), net | 0 | 0 | 0 | 0 |
Nonoperating income (Expense), Total | 1,683 | 1,524 | 3,300 | 3,006 |
Income (loss) before income taxes | 1,683 | 1,524 | 3,300 | 3,006 |
Income tax (expense) benefit | 11 | 11 | 21 | 21 |
Net income (loss) | 1,694 | 1,535 | 3,321 | 3,027 |
Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock | 0 | 0 | 0 | 0 |
Net income (loss) attributable to Parent | 1,694 | 1,535 | 3,321 | 3,027 |
Comprehensive income attributable to Parent | 1,694 | 1,535 | 3,320 | 3,028 |
NBCUniversal Media Parent [Member] | ||||
Service revenue | 0 | 0 | 0 | 0 |
Management fee revenue | 0 | 0 | 0 | 0 |
Revenue | 0 | 0 | 0 | 0 |
Costs and Expenses: | ||||
Programming and production | 0 | 0 | 0 | 0 |
Other operating and administrative | 255 | 237 | 492 | 494 |
Advertising, marketing and promotion | 0 | 0 | 0 | 0 |
Depreciation | 0 | 0 | 0 | 0 |
Amortization | 0 | 0 | 0 | 0 |
Costs and expenses, total | 255 | 237 | 492 | 494 |
Operating income (loss) | (255) | (237) | (492) | (494) |
Other Income (Expense): | ||||
Interest expense | (116) | (125) | (236) | (249) |
Investment income (loss), net | (8) | 4 | (14) | 5 |
Equity in net income (losses) of investees, net | 1,281 | 1,171 | 2,512 | 2,242 |
Other income (expense), net | 16 | 7 | 5 | 3 |
Nonoperating income (Expense), Total | 1,173 | 1,057 | 2,267 | 2,001 |
Income (loss) before income taxes | 918 | 820 | 1,775 | 1,507 |
Income tax (expense) benefit | (6) | (6) | (11) | (11) |
Net income (loss) | 912 | 814 | 1,764 | 1,496 |
Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock | 0 | 0 | 0 | 0 |
Net income (loss) attributable to Parent | 912 | 814 | 1,764 | 1,496 |
Comprehensive income attributable to Parent | 936 | 832 | 1,737 | 1,517 |
Comcast Non-Guarantor Subsidiaries [Member] | ||||
Service revenue | 18,743 | 16,844 | 36,596 | 34,252 |
Management fee revenue | 0 | 0 | 0 | 0 |
Revenue | 18,743 | 16,844 | 36,596 | 34,252 |
Costs and Expenses: | ||||
Programming and production | 5,669 | 4,874 | 11,132 | 10,782 |
Other operating and administrative | 5,052 | 4,741 | 9,912 | 9,370 |
Advertising, marketing and promotion | 1,528 | 1,244 | 2,883 | 2,457 |
Depreciation | 1,667 | 1,591 | 3,293 | 3,153 |
Amortization | 485 | 399 | 916 | 799 |
Costs and expenses, total | 14,401 | 12,849 | 28,136 | 26,561 |
Operating income (loss) | 4,342 | 3,995 | 8,460 | 7,691 |
Other Income (Expense): | ||||
Interest expense | (49) | (46) | (99) | (100) |
Investment income (loss), net | 26 | 115 | 62 | 223 |
Equity in net income (losses) of investees, net | 676 | 836 | 1,561 | 1,550 |
Other income (expense), net | 297 | (46) | 415 | (57) |
Nonoperating income (Expense), Total | 950 | 859 | 1,939 | 1,616 |
Income (loss) before income taxes | 5,292 | 4,854 | 10,399 | 9,307 |
Income tax (expense) benefit | (1,493) | (1,378) | (2,916) | (2,607) |
Net income (loss) | 3,799 | 3,476 | 7,483 | 6,700 |
Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock | (38) | (33) | (120) | (100) |
Net income (loss) attributable to Parent | 3,761 | 3,443 | 7,363 | 6,600 |
Comprehensive income attributable to Parent | $ 3,761 | $ 3,401 | $ 7,362 | $ 6,535 |
Condensed Consolidating Finan60
Condensed Consolidating Financial Information (Condensed Consolidating Statement of Cash Flows) (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Operating Activities | ||||
Net cash provided by (used in) operating activities | $ 8,834 | $ 7,547 | ||
Investing Activities | ||||
Net transactions with affiliates | 0 | 0 | ||
Capital expenditures | $ (1,971) | $ (1,798) | (3,697) | (3,246) |
Cash paid for intangible assets | (600) | (477) | ||
Acquisitions and construction of real estate properties | (65) | (10) | ||
Acquisitions, net of cash acquired | (179) | (406) | ||
Proceeds from sales of businesses and investments | 395 | 481 | ||
Purchases of investments | (272) | (77) | ||
Other | 182 | (153) | ||
Net cash provided by (used in) investing activities | (4,236) | (3,888) | ||
Financing Activities | ||||
Proceeds from (repayments of) short-term borrowings, net | (137) | (343) | ||
Proceeds from borrowings | 3,996 | 2,187 | ||
Repurchases and repayments of debt | (3,666) | (3,163) | ||
Repurchases and retirements of common stock | (3,585) | (1,500) | ||
Dividends paid | (1,200) | (1,092) | ||
Issuances of common stock | 32 | 29 | ||
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock | (114) | (117) | ||
Other | (348) | 151 | ||
Net cash provided by (used in) financing activities | (5,022) | (3,848) | ||
Increase (decrease) in cash and cash equivalents | (424) | (189) | ||
Cash and cash equivalents, beginning of period | 3,910 | 1,718 | ||
Cash and cash equivalents, end of period | 3,486 | 1,529 | 3,486 | 1,529 |
Elimination and Consolidation Adjustments [Member] | ||||
Operating Activities | ||||
Net cash provided by (used in) operating activities | 0 | 0 | ||
Investing Activities | ||||
Net transactions with affiliates | 0 | 0 | ||
Capital expenditures | 0 | 0 | ||
Cash paid for intangible assets | 0 | 0 | ||
Acquisitions and construction of real estate properties | 0 | 0 | ||
Acquisitions, net of cash acquired | 0 | 0 | ||
Proceeds from sales of businesses and investments | 0 | 0 | ||
Purchases of investments | 0 | 0 | ||
Other | 0 | 0 | ||
Net cash provided by (used in) investing activities | 0 | 0 | ||
Financing Activities | ||||
Proceeds from (repayments of) short-term borrowings, net | 0 | 0 | ||
Proceeds from borrowings | 0 | 0 | ||
Repurchases and repayments of debt | 0 | 0 | ||
Repurchases and retirements of common stock | 0 | 0 | ||
Dividends paid | 0 | 0 | ||
Issuances of common stock | 0 | 0 | ||
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock | 0 | 0 | ||
Other | 0 | 0 | ||
Net cash provided by (used in) financing activities | 0 | 0 | ||
Increase (decrease) in cash and cash equivalents | 0 | 0 | ||
Cash and cash equivalents, beginning of period | 0 | 0 | ||
Cash and cash equivalents, end of period | 0 | 0 | 0 | 0 |
Comcast Parent [Member] | ||||
Operating Activities | ||||
Net cash provided by (used in) operating activities | (398) | (147) | ||
Investing Activities | ||||
Net transactions with affiliates | 3,661 | 2,674 | ||
Capital expenditures | (13) | (4) | ||
Cash paid for intangible assets | (1) | (2) | ||
Acquisitions and construction of real estate properties | 0 | 0 | ||
Acquisitions, net of cash acquired | 0 | 0 | ||
Proceeds from sales of businesses and investments | 0 | 0 | ||
Purchases of investments | (2) | (10) | ||
Other | 7 | 0 | ||
Net cash provided by (used in) investing activities | 3,652 | 2,658 | ||
Financing Activities | ||||
Proceeds from (repayments of) short-term borrowings, net | 0 | (1,350) | ||
Proceeds from borrowings | 3,996 | 2,184 | ||
Repurchases and repayments of debt | (2,650) | (1,000) | ||
Repurchases and retirements of common stock | (3,585) | (1,500) | ||
Dividends paid | (1,200) | (1,092) | ||
Issuances of common stock | 32 | 29 | ||
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock | 0 | 0 | ||
Other | 153 | 218 | ||
Net cash provided by (used in) financing activities | (3,254) | (2,511) | ||
Increase (decrease) in cash and cash equivalents | 0 | 0 | ||
Cash and cash equivalents, beginning of period | 0 | 0 | ||
Cash and cash equivalents, end of period | 0 | 0 | 0 | 0 |
Comcast Holdings [Member] | ||||
Operating Activities | ||||
Net cash provided by (used in) operating activities | (1) | 12 | ||
Investing Activities | ||||
Net transactions with affiliates | 1 | (12) | ||
Capital expenditures | 0 | 0 | ||
Cash paid for intangible assets | 0 | 0 | ||
Acquisitions and construction of real estate properties | 0 | 0 | ||
Acquisitions, net of cash acquired | 0 | 0 | ||
Proceeds from sales of businesses and investments | 0 | 0 | ||
Purchases of investments | 0 | 0 | ||
Other | 0 | 0 | ||
Net cash provided by (used in) investing activities | 1 | (12) | ||
Financing Activities | ||||
Proceeds from (repayments of) short-term borrowings, net | 0 | 0 | ||
Proceeds from borrowings | 0 | 0 | ||
Repurchases and repayments of debt | 0 | 0 | ||
Repurchases and retirements of common stock | 0 | 0 | ||
Dividends paid | 0 | 0 | ||
Issuances of common stock | 0 | 0 | ||
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock | 0 | 0 | ||
Other | 0 | 0 | ||
Net cash provided by (used in) financing activities | 0 | 0 | ||
Increase (decrease) in cash and cash equivalents | 0 | 0 | ||
Cash and cash equivalents, beginning of period | 0 | 0 | ||
Cash and cash equivalents, end of period | 0 | 0 | 0 | 0 |
CCCL Parent [Member] | ||||
Operating Activities | ||||
Net cash provided by (used in) operating activities | (69) | (43) | ||
Investing Activities | ||||
Net transactions with affiliates | 69 | 43 | ||
Capital expenditures | 0 | 0 | ||
Cash paid for intangible assets | 0 | 0 | ||
Acquisitions and construction of real estate properties | 0 | 0 | ||
Acquisitions, net of cash acquired | 0 | 0 | ||
Proceeds from sales of businesses and investments | 0 | 0 | ||
Purchases of investments | 0 | 0 | ||
Other | 0 | 0 | ||
Net cash provided by (used in) investing activities | 69 | 43 | ||
Financing Activities | ||||
Proceeds from (repayments of) short-term borrowings, net | 0 | 0 | ||
Proceeds from borrowings | 0 | 0 | ||
Repurchases and repayments of debt | 0 | 0 | ||
Repurchases and retirements of common stock | 0 | 0 | ||
Dividends paid | 0 | 0 | ||
Issuances of common stock | 0 | 0 | ||
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock | 0 | 0 | ||
Other | 0 | 0 | ||
Net cash provided by (used in) financing activities | 0 | 0 | ||
Increase (decrease) in cash and cash equivalents | 0 | 0 | ||
Cash and cash equivalents, beginning of period | 0 | 0 | ||
Cash and cash equivalents, end of period | 0 | 0 | 0 | 0 |
Combined CCHMO Parents [Member] | ||||
Operating Activities | ||||
Net cash provided by (used in) operating activities | (40) | (41) | ||
Investing Activities | ||||
Net transactions with affiliates | 40 | 41 | ||
Capital expenditures | 0 | 0 | ||
Cash paid for intangible assets | 0 | 0 | ||
Acquisitions and construction of real estate properties | 0 | 0 | ||
Acquisitions, net of cash acquired | 0 | 0 | ||
Proceeds from sales of businesses and investments | 0 | 0 | ||
Purchases of investments | 0 | 0 | ||
Other | 0 | 0 | ||
Net cash provided by (used in) investing activities | 40 | 41 | ||
Financing Activities | ||||
Proceeds from (repayments of) short-term borrowings, net | 0 | 0 | ||
Proceeds from borrowings | 0 | 0 | ||
Repurchases and repayments of debt | 0 | 0 | ||
Repurchases and retirements of common stock | 0 | 0 | ||
Dividends paid | 0 | 0 | ||
Issuances of common stock | 0 | 0 | ||
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock | 0 | 0 | ||
Other | 0 | 0 | ||
Net cash provided by (used in) financing activities | 0 | 0 | ||
Increase (decrease) in cash and cash equivalents | 0 | 0 | ||
Cash and cash equivalents, beginning of period | 0 | 0 | ||
Cash and cash equivalents, end of period | 0 | 0 | 0 | 0 |
NBCUniversal Media Parent [Member] | ||||
Operating Activities | ||||
Net cash provided by (used in) operating activities | (751) | (711) | ||
Investing Activities | ||||
Net transactions with affiliates | 1,670 | 1,583 | ||
Capital expenditures | 0 | 0 | ||
Cash paid for intangible assets | 0 | 0 | ||
Acquisitions and construction of real estate properties | 0 | 0 | ||
Acquisitions, net of cash acquired | 0 | 0 | ||
Proceeds from sales of businesses and investments | 1 | 2 | ||
Purchases of investments | 0 | (6) | ||
Other | (5) | 4 | ||
Net cash provided by (used in) investing activities | 1,666 | 1,583 | ||
Financing Activities | ||||
Proceeds from (repayments of) short-term borrowings, net | 0 | 0 | ||
Proceeds from borrowings | 0 | 0 | ||
Repurchases and repayments of debt | (1,001) | (901) | ||
Repurchases and retirements of common stock | 0 | 0 | ||
Dividends paid | 0 | 0 | ||
Issuances of common stock | 0 | 0 | ||
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock | 0 | 0 | ||
Other | 0 | 0 | ||
Net cash provided by (used in) financing activities | (1,001) | (901) | ||
Increase (decrease) in cash and cash equivalents | (86) | (29) | ||
Cash and cash equivalents, beginning of period | 385 | 336 | ||
Cash and cash equivalents, end of period | 299 | 307 | 299 | 307 |
Comcast Non-Guarantor Subsidiaries [Member] | ||||
Operating Activities | ||||
Net cash provided by (used in) operating activities | 10,093 | 8,477 | ||
Investing Activities | ||||
Net transactions with affiliates | (5,441) | (4,329) | ||
Capital expenditures | (3,684) | (3,242) | ||
Cash paid for intangible assets | (599) | (475) | ||
Acquisitions and construction of real estate properties | (65) | (10) | ||
Acquisitions, net of cash acquired | (179) | (406) | ||
Proceeds from sales of businesses and investments | 394 | 479 | ||
Purchases of investments | (270) | (61) | ||
Other | 180 | (157) | ||
Net cash provided by (used in) investing activities | (9,664) | (8,201) | ||
Financing Activities | ||||
Proceeds from (repayments of) short-term borrowings, net | (137) | 1,007 | ||
Proceeds from borrowings | 0 | 3 | ||
Repurchases and repayments of debt | (15) | (1,262) | ||
Repurchases and retirements of common stock | 0 | 0 | ||
Dividends paid | 0 | 0 | ||
Issuances of common stock | 0 | 0 | ||
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock | (114) | (117) | ||
Other | (501) | (67) | ||
Net cash provided by (used in) financing activities | (767) | (436) | ||
Increase (decrease) in cash and cash equivalents | (338) | (160) | ||
Cash and cash equivalents, beginning of period | 3,525 | 1,382 | ||
Cash and cash equivalents, end of period | $ 3,187 | $ 1,222 | $ 3,187 | $ 1,222 |