Condensed Consolidating Financial Information | Note 20 : Condensed Consolidating Financial Information Comcast (“Comcast Parent”), Comcast Cable Communications, LLC (“CCCL Parent”) and NBCUniversal ( “ NBCUniversal Media Parent ”) have fully and unconditionally guaranteed each other’s debt securities. In addition, the Comcast revolving credit facility and the Comcast commercial paper program are also fully and unconditionally guaranteed by NBCUniversal . The Comcast commercial paper program is supported by the Co mcast revolving credit facility. The debt securities within the guarantee structure total $ 44.3 billion, of which $ 10.7 billion will mature within the next five years. In October 2015, we merged three of our wholly owned subsidiaries, Comcast MO Group, LLC (“Comcast MO Group”), Comcast Cable Holdings, LLC (“CCH”) and Comcast MO of Delaware, LLC (“Comcast MO of Delaware”), with and into CCCL Parent . Comcast MO Group, CCH and Comcast MO of Delaware were guarantors pri or to the merger and were collectively referred to as the “ Combined CCHMO Parents .” Accordingly, the financial information for CCCL Parent reflects both the former Combined CCHMO Parents and the CCCL Parent for all periods presented. Comcast Parent and CCC L Parent also fully and unconditionally guarantee NBCUniversal Enterprise’s $4 billion of senior notes , as well as the NBCUniversal Enterprise revolving credit facility and the associated commercial paper program . NBCUniversal Media Parent does not guarant ee the NBCUniversal Enterprise senior notes , credit facility or commercial paper program . Comcast Parent provides an unconditional subordinated guarantee of the $185 million principal amount currently outstanding of Comcast Holdings’ ZONES due October 2029 . Neither CCCL Parent nor NBCUniversal Media Parent guarantee the Comcast Holdings ’ ZONES due October 2029. None of Comcast Parent, CCCL Parent nor NBCUniversal Media Parent guarantee the $62 million principal amount currently outstanding of Comcast Holdin gs’ ZONES due November 2029 or the $3.3 billion of Universal Studios Japan term loans. Condensed Consolidating Balance Sheet December 31, 2015 (in millions) Comcast Parent Comcast Holdings CCCL Parent NBCUniversal Media Parent Non- Guarantor Subsidiaries Elimination and Consolidation Adjustments Consolidated Comcast Corporation Assets Cash and cash equivalents $ - $ - $ - $ 414 $ 1,881 $ - $ 2,295 Investments - - - - 106 - 106 Receivables, net - - - - 6,896 - 6,896 Programming rights - - - - 1,213 - 1,213 Other current assets 69 - - 17 1,707 - 1,793 Total current assets 69 - - 431 11,803 - 12,303 Film and television costs - - - - 5,855 - 5,855 Investments 33 - - 430 2,761 - 3,224 Investments in and amounts due from subsidiaries eliminated upon consolidation 87,142 111,241 119,354 42,441 109,598 (469,776) - Property and equipment, net 210 - - - 33,455 - 33,665 Franchise rights - - - - 59,364 - 59,364 Goodwill - - - - 32,945 - 32,945 Other intangible assets, net 12 - - - 16,934 - 16,946 Other noncurrent assets, net 1,301 147 - 78 2,114 (1,368) 2,272 Total assets $ 88,767 $ 111,388 $ 119,354 $ 43,380 $ 274,829 $ (471,144) $ 166,574 Liabilities and Equity Accounts payable and accrued expenses related to trade creditors $ 16 $ - $ - $ - $ 6,199 $ - $ 6,215 Accrued participations and residuals - - - - 1,572 - 1,572 Accrued expenses and other current liabilities 1,789 335 290 389 3,961 - 6,764 Current portion of long-term debt 1,149 - - 1,005 1,473 - 3,627 Total current liabilities 2,954 335 290 1,394 13,205 - 18,178 Long-term debt, less current portion 31,106 130 2,650 8,211 6,897 - 48,994 Deferred income taxes - 624 - 66 34,098 (1,222) 33,566 Other noncurrent liabilities 2,438 - - 1,087 7,258 (146) 10,637 Redeemable noncontrolling interests and redeemable subsidiary preferred stock - - - - 1,221 - 1,221 Equity: Common stock 29 - - - - - 29 Other shareholders’ equity 52,240 110,299 116,414 32,622 210,441 (469,776) 52,240 Total Comcast Corporation shareholders’ equity 52,269 110,299 116,414 32,622 210,441 (469,776) 52,269 Noncontrolling interests - - - - 1,709 - 1,709 Total equity 52,269 110,299 116,414 32,622 212,150 (469,776) 53,978 Total liabilities and equity $ 88,767 $ 111,388 $ 119,354 $ 43,380 $ 274,829 $ (471,144) $ 166,574 Condensed Consolidating Balance Sheet December 31, 2014 (in millions) Comcast Parent Comcast Holdings CCCL Parent NBCUniversal Media Parent Non- Guarantor Subsidiaries Elimination and Consolidation Adjustments Consolidated Comcast Corporation Assets Cash and cash equivalents $ - $ - $ - $ 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 84,142 103,420 111,870 41,239 98,152 (438,823) - 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 1,086 145 - 80 1,949 (1,080) 2,180 Total assets $ 85,741 $ 103,565 $ 111,870 $ 42,123 $ 255,790 $ (439,903) $ 159,186 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 1,547 283 280 331 3,767 - 6,208 Current portion of long-term debt 1,650 - 677 1,006 884 - 4,217 Total current liabilities 3,216 283 958 1,337 11,616 - 17,410 Long-term debt, less current portion 27,478 123 2,649 9,206 4,408 - 43,864 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 30,370 197,732 (438,823) 52,681 Total Comcast Corporation shareholders’ equity 52,711 102,458 108,263 30,370 197,732 (438,823) 52,711 Noncontrolling interests - - - - 357 - 357 Total equity 52,711 102,458 108,263 30,370 198,089 (438,823) 53,068 Total liabilities and equity $ 85,741 $ 103,565 $ 111,870 $ 42,123 $ 255,790 $ (439,903) $ 159,186 Condensed Consolidating Statement of Income For the Year Ended December 31, 2015 (in millions) Comcast Parent Comcast Holdings CCCL Parent NBCUniversal Media Parent Non- Guarantor Subsidiaries Elimination and Consolidation Adjustments Consolidated Comcast Corporation Revenue: Service revenue $ - $ - $ - $ - $ 74,510 $ - $ 74,510 Management fee revenue 1,005 - 977 - - (1,982) - 1,005 - 977 - 74,510 (1,982) 74,510 Costs and Expenses: Programming and production - - - - 22,550 - 22,550 Other operating and administrative 760 - 977 922 20,662 (1,982) 21,339 Advertising, marketing and promotion - - - - 5,943 - 5,943 Depreciation 31 - - - 6,750 - 6,781 Amortization 6 - - - 1,893 - 1,899 797 - 977 922 57,798 (1,982) 58,512 Operating income (loss) 208 - - (922) 16,712 - 15,998 Other Income (Expense): Interest expense (1,744) (12) (270) (462) (214) - (2,702) Investment income (loss), net 6 (1) - (19) 95 - 81 Equity in net income (losses) of investees, net 9,159 8,651 8,040 4,852 3,089 (34,116) (325) Other income (expense), net (3) - - (31) 354 - 320 7,418 8,638 7,770 4,340 3,324 (34,116) (2,626) Income (loss) before income taxes 7,626 8,638 7,770 3,418 20,036 (34,116) 13,372 Income tax (expense) benefit 537 4 94 (4) (5,590) - (4,959) Net income (loss) 8,163 8,642 7,864 3,414 14,446 (34,116) 8,413 Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock - - - - (250) - (250) Net income (loss) attributable to Comcast Corporation $ 8,163 $ 8,642 $ 7,864 $ 3,414 $ 14,196 $ (34,116) $ 8,163 Comprehensive income (loss) attributable to Comcast Corporation $ 8,135 $ 8,625 $ 7,864 $ 3,361 $ 14,192 $ (34,042) $ 8,135 Condensed Consolidating Statement of Income For the Year Ended December 31, 2014 (in millions) Comcast Parent Comcast Holdings CCCL Parent NBCUniversal Media Parent Non- Guarantor Subsidiaries Elimination and Consolidation Adjustments Consolidated Comcast Corporation Revenue: Service revenue $ - $ - $ - $ - $ 68,775 $ - $ 68,775 Management fee revenue 947 - - 921 - - - (1,868) - 947 - 921 - 68,775 (1,868) 68,775 Costs and Expenses: Programming and production - - - - 20,912 - 20,912 Other operating and administrative 751 - 921 908 19,142 (1,868) 19,854 Advertising, marketing and promotion - - - - 5,086 - 5,086 Depreciation 34 - - - 6,303 - 6,337 Amortization 6 - - - 1,676 - 1,682 791 - 921 908 53,119 (1,868) 53,871 Operating income (loss) 156 - - (908) 15,656 - 14,904 Other Income (Expense): Interest expense (1,621) (11) (294) (479) (212) - (2,617) Investment income (loss), net 3 12 - (7) 288 - 296 Equity in net income (losses) of investees, net 9,330 8,843 8,350 4,523 3,212 (34,161) 97 Other income (expense), net - - - (4) (211) - (215) 7,712 8,844 8,056 4,033 3,077 (34,161) (2,439) Income (loss) before income taxes 7,868 8,844 8,056 3,125 18,733 (34,161) 12,465 Income tax (expense) benefit 512 - 103 (10) (4,478) - (3,873) Net income (loss) 8,380 8,844 8,159 3,115 14,255 (34,161) 8,592 Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock - - - - (212) - (212) Net income (loss) attributable to Comcast Corporation $ 8,380 $ 8,844 $ 8,159 $ 3,115 $ 14,043 $ (34,161) $ 8,380 Comprehensive income (loss) attributable to Comcast Corporation $ 8,178 $ 8,807 $ 8,163 $ 2,972 $ 13,980 $ (33,922) $ 8,178 Condensed Consolidating Statement of Income For the Year Ended December 31, 2013 (in millions) Comcast Parent Comcast Holdings CCCL Parent NBCUniversal Media Parent Non- Guarantor Subsidiaries Elimination and Consolidation Adjustments Consolidated Comcast Corporation Revenue: Service revenue $ - $ - $ - $ - $ 64,657 $ - $ 64,657 Management fee revenue 897 - 874 - - (1,771) - 897 - 874 - 64,657 (1,771) 64,657 Costs and Expenses: Programming and production - - - - 19,670 - 19,670 Other operating and administrative 403 - 874 855 18,214 (1,771) 18,575 Advertising, marketing and promotion - - - - 4,978 - 4,978 Depreciation 30 - - - 6,224 - 6,254 Amortization 5 - - - 1,612 - 1,617 438 - 874 855 50,698 (1,771) 51,094 Operating income (loss) 459 - - (855) 13,959 - 13,563 Other Income (Expense): - Interest expense (1,523) (11) (338) (488) (214) - (2,574) Investment income (loss), net - (13) - 3 586 - 576 Equity in net income (losses) of investees, net 7,509 7,540 7,512 3,331 1,882 (27,860) (86) Other income (expense), net (2) - 2 (1) (363) - (364) 5,984 7,516 7,176 2,845 1,891 (27,860) (2,448) Income (loss) before income taxes 6,443 7,516 7,176 1,990 15,850 (27,860) 11,115 Income tax (expense) benefit 373 9 117 (22) (4,457) - (3,980) Net income (loss) 6,816 7,525 7,293 1,968 11,393 (27,860) 7,135 Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock - - - - (319) - (319) Net income (loss) attributable to Comcast Corporation $ 6,816 $ 7,525 $ 7,293 $ 1,968 $ 11,074 $ (27,860) $ 6,816 Comprehensive income (loss) attributable to Comcast Corporation $ 6,883 $ 7,521 $ 7,277 $ 2,017 $ 10,969 $ (27,784) $ 6,883 Condensed Consolidating Statement of Cash Flows For the Year Ended December 31, 2015 (in millions) Comcast Parent Comcast Holdings CCCL Parent NBCUniversal Media Parent Non- Guarantor Subsidiaries Elimination and Consolidation Adjustments Consolidated Comcast Corporation Net cash provided by (used in) operating activities $ (792) $ 48 $ (167) $ (1,398) $ 21,087 $ - $ 18,778 Investing Activities: Net transactions with affiliates 6,559 (48) 840 2,839 (10,190) - - Capital expenditures (27) - - - (8,472) - (8,499) Cash paid for intangible assets (6) - - - (1,364) - (1,370) Acquisitions and construction of real estate properties - - - - (178) - (178) Acquisitions, net of cash acquired - - - - (1,786) - (1,786) Proceeds from sales of businesses and investments - - - 4 429 - 433 Purchases of investments (7) - - (407) (370) - (784) Other 7 - - (5) 218 - 220 Net cash provided by (used in) investing activities 6,526 (48) 840 2,431 (21,713) - (11,964) Financing Activities: Proceeds from (repayments of) short-term borrowings, net 400 - - - (265) - 135 Proceeds from borrowings 5,486 - - - - - 5,486 Repurchases and repayments of debt (2,650) - (673) (1,004) (51) - (4,378) Repurchases and retirements of common stock (6,750) - - - - - (6,750) Dividends paid (2,437) - - - - - (2,437) Issuances of common stock 36 - - - - - 36 Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock - - - - (232) - (232) Other 181 - - - (470) - (289) Net cash provided by (used in) financing activities (5,734) - (673) (1,004) (1,018) - (8,429) Increase (decrease) in cash and cash equivalents - - - 29 (1,644) - (1,615) Cash and cash equivalents, beginning of year - - - 385 3,525 - 3,910 Cash and cash equivalents, end of year $ - $ - $ - $ 414 $ 1,881 $ - $ 2,295 Condensed Consolidating Statement of Cash Flows For the Year Ended December 31, 2014 (in millions) Comcast Parent Comcast Holdings CCCL Parent NBCUniversal Media Parent Non- Guarantor Subsidiaries Elimination and Consolidation Adjustments Consolidated Comcast Corporation Net cash provided by (used in) operating activities $ (354) $ 9 $ (139) $ (1,299) $ 18,728 $ - $ 16,945 Investing Activities: Net transactions with affiliates 4,784 (9) 139 2,247 (7,161) - - Capital expenditures (3) - - - (7,417) - (7,420) Cash paid for intangible assets (6) - - - (1,116) - (1,122) Acquisitions and construction of real estate properties - - - - (43) - (43) Acquisitions, net of cash acquired - - - - (477) - (477) Proceeds from sales of businesses and investments - - - 8 658 - 666 Purchases of investments (19) - - (10) (162) - (191) Other - - - 5 (151) - (146) Net cash provided by (used in) investing activities 4,756 (9) 139 2,250 (15,869) - (8,733) Financing Activities: Proceeds from (repayments of) short-term borrowings, net (1,350) - - - 846 - (504) Proceeds from borrowings 4,180 - - - 2 - 4,182 Repurchases and repayments of debt (1,000) - - (902) (1,273) - (3,175) Repurchases and retirements of common stock (4,251) - - - - - (4,251) Dividends paid (2,254) - - - - - (2,254) Issuances of common stock 35 - - - - - 35 Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock - - - - (220) - (220) Other 238 - - - (71) - 167 Net cash provided by (used in) financing activities (4,402) - - (902) (716) - (6,020) Increase (decrease) in cash and cash equivalents - - - 49 2,143 - 2,192 Cash and cash equivalents, beginning of year - - - 336 1,382 - 1,718 Cash and cash equivalents, end of year $ - - - 385 3,525 - 3,910 Condensed Consolidating Statement of Cash Flows For the Year Ended December 31, 2013 (in millions) Comcast Parent Comcast Holdings CCCL Parent NBCUniversal Media Parent Non- Guarantor Subsidiaries Elimination and Consolidation Adjustments Consolidated Comcast Corporation Net cash provided by (used in) operating activities $ (600) $ (3) $ (245) $ (1,102) $ 16,110 $ - $ 14,160 Investing Activities: Net transactions with affiliates 66 3 2,580 (470) (2,179) - - Capital expenditures (7) - - - (6,589) - (6,596) Cash paid for intangible assets (4) - - - (1,005) - (1,009) Acquisitions and construction of real estate properties - - - - (1,904) - (1,904) Acquisitions, net of cash acquired - - - - (99) - (99) Proceeds from sales of businesses and investments - - - 2 1,081 - 1,083 Purchases of investments (11) - - (3) (1,209) - (1,223) Other - - - 108 126 - 234 Net cash provided by (used in) investing activities 44 3 2,580 (363) (11,778) - (9,514) Financing Activities: Proceeds from (repayments of) short-term borrowings, net 1,349 - - - (4) - 1,345 Proceeds from borrowings 2,933 - - - - - 2,933 Repurchases and repayments of debt - - (2,335) (88) (21) - (2,444) Repurchases and retirements of common stock (2,000) - - - - - (2,000) Dividends paid (1,964) - - - - - (1,964) Issuances of common stock 40 - - - - - 40 Purchase of NBCUniversal noncontrolling common equity interest - - - (3,200) (7,561) - (10,761) Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock - - - - (215) - (215) Settlement of Station Venture liability - - - - (602) - (602) Other 198 - - (40) (369) - (211) Net cash provided by (used in) financing activities 556 - (2,335) (3,328) (8,772) - (13,879) Increase (decrease) in cash and cash equivalents - - - (4,793) (4,440) - (9,233) Cash and cash equivalents, beginning of year - - - 5,129 5,822 - 10,951 Cash and cash equivalents, end of year $ - $ - $ - $ 336 $ 1,382 $ - $ 1,718 |