Document and Entity Information
Document and Entity Information - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Jun. 30, 2016 | |
Document And Entity Information [Line Items] | ||
Document Type | 10-K | |
Amendment Flag | false | |
Document Period End Date | Dec. 31, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | FY | |
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 | |
Entity Public Float | $ 155,940 | |
Entity Current Reporting Status | Yes | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Voluntary Filers | No | |
NBCUniversal Media LLC [Member] | ||
Document And Entity Information [Line Items] | ||
Entity Registrant Name | NBCUniversal Media, LLC | |
Entity Central Index Key | 902,739 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Public Float | $ 0 | |
Entity Current Reporting Status | Yes | |
Entity Well-known Seasoned Issuer | Yes | |
Entity Voluntary Filers | No | |
Class A Common Stock [Member] | ||
Document And Entity Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 2,366,357,318 | |
Class B Common Stock [Member] | ||
Document And Entity Information [Line Items] | ||
Entity Common Stock, Shares Outstanding | 9,444,375 |
Consolidated Balance Sheet
Consolidated Balance Sheet - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Current Assets: | ||
Cash and cash equivalents | $ 3,301 | $ 2,295 |
Receivables, net | 7,955 | 6,896 |
Programming rights | 1,250 | 1,213 |
Deposits | 1,772 | 21 |
Other current assets | 2,083 | 1,878 |
Total current assets | 16,361 | 12,303 |
Film and television costs | 7,252 | 5,855 |
Investments | 5,247 | 3,224 |
Property and equipment, net | 36,253 | 33,665 |
Franchise rights | 59,364 | 59,364 |
Goodwill | 35,980 | 32,945 |
Other intangible assets, net | 17,274 | 16,946 |
Other noncurrent assets, net | 2,769 | 2,272 |
Total assets | 180,500 | 166,574 |
Current Liabilities: | ||
Accounts payable and accrued expenses related to trade creditors | 6,915 | 6,215 |
Accrued participations and residuals | 1,726 | 1,572 |
Deferred revenue | 1,132 | 1,302 |
Accrued expenses and other current liabilities | 6,282 | 5,462 |
Current portion of long-term debt | 5,480 | 3,627 |
Total current liabilities | 21,535 | 18,178 |
Long-term debt, less current portion | 55,566 | 48,994 |
Deferred income taxes | 34,854 | 33,566 |
Other noncurrent liabilities | 10,925 | 10,637 |
Commitments and contingencies | ||
Redeemable noncontrolling interests | 1,446 | 1,221 |
Equity: | ||
Preferred stock—authorized, 20,000,000 shares; issued, zero | 0 | 0 |
Common stock | 28 | 29 |
Additional paid-in capital | 38,258 | 38,518 |
Retained earnings | 23,076 | 21,413 |
Treasury stock, 436,395,514 Class A common shares | (7,517) | (7,517) |
Accumulated other comprehensive income (loss) | 98 | (174) |
Total Comcast Corporation shareholders’ equity | 53,943 | 52,269 |
Noncontrolling interests | 2,231 | 1,709 |
Total equity | 56,174 | 53,978 |
Total liabilities and equity | 180,500 | 166,574 |
NBCUniversal Media LLC [Member] | ||
Current Assets: | ||
Cash and cash equivalents | 1,966 | 1,410 |
Receivables, net | 6,302 | 5,411 |
Programming rights | 1,241 | 1,200 |
Other current assets | 938 | 841 |
Total current assets | 10,447 | 8,862 |
Film and television costs | 7,245 | 5,847 |
Investments | 1,263 | 965 |
Property and equipment, net | 10,511 | 9,521 |
Goodwill | 23,323 | 20,364 |
Intangible assets, net | 13,777 | 13,806 |
Other noncurrent assets, net | 1,688 | 1,325 |
Total assets | 68,254 | 60,690 |
Current Liabilities: | ||
Accounts payable and accrued expenses related to trade creditors | 1,647 | 1,564 |
Accrued participations and residuals | 1,726 | 1,572 |
Program obligations | 807 | 765 |
Deferred revenue | 1,016 | 1,242 |
Accrued expenses and other current liabilities | 1,888 | 1,675 |
Note payable to Comcast | 2,703 | 1,750 |
Current portion of long-term debt | 127 | 1,163 |
Total current liabilities | 9,914 | 9,731 |
Long-term debt, less current portion | 11,461 | 11,331 |
Accrued participations, residuals and program obligations | 1,202 | 1,163 |
Other noncurrent liabilities | 4,130 | 3,790 |
Commitments and contingencies | ||
Redeemable noncontrolling interests | 530 | 372 |
Equity: | ||
Member’s capital | 39,036 | 32,834 |
Accumulated other comprehensive income (loss) | (135) | (212) |
Total NBCUniversal member’s equity | 38,901 | 32,622 |
Noncontrolling interests | 2,116 | 1,681 |
Total equity | 41,017 | 34,303 |
Total liabilities and equity | 68,254 | 60,690 |
Class A Common Stock [Member] | ||
Equity: | ||
Common stock | 28 | 29 |
Class B Common Stock [Member] | ||
Equity: | ||
Common stock | $ 0 | $ 0 |
Consolidated Balance Sheet (Par
Consolidated Balance Sheet (Parenthetical) - $ / shares | Dec. 31, 2016 | Dec. 31, 2015 |
Preferred stock, shares authorized (in shares) | 20,000,000 | 20,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Class A Common Stock [Member] | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 7,500,000,000 | 7,500,000,000 |
Common stock, shares issued (in shares) | 2,802,752,832 | 2,869,349,502 |
Common stock, shares outstanding (in shares) | 2,366,357,318 | 2,432,953,988 |
Treasury stock (in shares) | 436,395,514 | 436,395,514 |
Class B Common Stock [Member] | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 75,000,000 | 75,000,000 |
Common stock, shares issued (in shares) | 9,444,375 | 9,444,375 |
Common stock, shares outstanding (in shares) | 9,444,375 | 9,444,375 |
Consolidated Statement of Incom
Consolidated Statement of Income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Revenue | $ 80,403 | $ 74,510 | $ 68,775 |
Costs and Expenses: | |||
Programming and production | 24,463 | 22,550 | 20,912 |
Other operating and administrative | 23,409 | 21,319 | 19,839 |
Advertising, marketing and promotion | 6,114 | 5,963 | 5,101 |
Depreciation | 7,464 | 6,781 | 6,337 |
Amortization | 2,094 | 1,899 | 1,682 |
Total costs and expenses | 63,544 | 58,512 | 53,871 |
Operating income | 16,859 | 15,998 | 14,904 |
Other Income (Expense): | |||
Interest expense | (2,942) | (2,702) | (2,617) |
Investment income (loss), net | 213 | 81 | 296 |
Equity in net income (losses) of investees, net | (104) | (325) | 97 |
Other income (expense), net | 327 | 320 | (215) |
Nonoperating income (expense) | (2,506) | (2,626) | (2,439) |
Income before income taxes | 14,353 | 13,372 | 12,465 |
Income tax expense | (5,308) | (4,959) | (3,873) |
Net income | 9,045 | 8,413 | 8,592 |
Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock | (350) | (250) | (212) |
Net income attributable to Parent | $ 8,695 | $ 8,163 | $ 8,380 |
Basic earnings per common share attributable to Comcast Corporation shareholders (in dollars per share) | $ 3.61 | $ 3.28 | $ 3.24 |
Diluted earnings per common share attributable to Comcast Corporation shareholders (in dollars per share) | 3.57 | 3.24 | 3.20 |
Dividends declared per common share (in dollars per share) | 1.10 | 1 | 0.90 |
Unaudited pro forma diluted earnings per common share attributable to Comcast Corporation shareholders, adjusted for the two for one stock split | $ 1.78 | $ 1.62 | $ 1.60 |
NBCUniversal Media LLC [Member] | |||
Revenue | $ 31,593 | $ 28,462 | $ 25,428 |
Costs and Expenses: | |||
Programming and production | 14,540 | 13,418 | 12,318 |
Other operating and administrative | 7,059 | 5,891 | 5,364 |
Advertising, marketing and promotion | 2,767 | 2,795 | 2,158 |
Depreciation | 861 | 669 | 654 |
Amortization | 944 | 870 | 841 |
Total costs and expenses | 26,171 | 23,643 | 21,335 |
Operating income | 5,422 | 4,819 | 4,093 |
Other Income (Expense): | |||
Interest expense | (595) | (495) | (508) |
Investment income (loss), net | 30 | 5 | 27 |
Equity in net income (losses) of investees, net | (99) | (376) | 46 |
Other income (expense), net | 93 | (102) | (218) |
Nonoperating income (expense) | (571) | (968) | (653) |
Income before income taxes | 4,851 | 3,851 | 3,440 |
Income tax expense | (305) | (227) | (143) |
Net income | 4,546 | 3,624 | 3,297 |
Net (income) loss attributable to noncontrolling interests | (311) | (210) | (182) |
Net income attributable to Parent | $ 4,235 | $ 3,414 | $ 3,115 |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Net income | $ 9,045 | $ 8,413 | $ 8,592 |
Unrealized gains (losses) on marketable securities, net of deferred taxes | 0 | 1 | 33 |
Deferred gains (losses) on cash flow hedges, net of deferred taxes | (60) | (106) | (5) |
Amounts reclassified to net income: | |||
Realized (gains) losses on marketable securities, net of deferred taxes | (1) | (1) | (99) |
Realized (gains) losses on cash flow hedges, net of deferred taxes | 92 | 64 | 46 |
Employee benefit obligations, net of deferred taxes | 213 | 74 | (139) |
Currency translation adjustments, net of deferred taxes | 102 | (89) | (38) |
Comprehensive income | 9,391 | 8,356 | 8,390 |
Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock | (350) | (250) | (212) |
Other comprehensive (income) loss attributable to noncontrolling interests | (74) | 29 | 0 |
Comprehensive income attributable to Parent | 8,967 | 8,135 | 8,178 |
NBCUniversal Media LLC [Member] | |||
Net income | 4,546 | 3,624 | 3,297 |
Deferred gains (losses) on cash flow hedges, net of deferred taxes | 24 | (21) | 25 |
Amounts reclassified to net income: | |||
Employee benefit obligations, net of deferred taxes | 15 | 60 | (106) |
Currency translation adjustments, net of deferred taxes | 112 | (121) | (62) |
Comprehensive income | 4,697 | 3,542 | 3,154 |
Net (income) loss attributable to noncontrolling interests | (311) | (210) | (182) |
Other comprehensive (income) loss attributable to noncontrolling interests | (74) | 29 | 0 |
Comprehensive income attributable to Parent | $ 4,312 | $ 3,361 | $ 2,972 |
Consolidated Statement of Comp6
Consolidated Statement of Comprehensive Income (Parenthetical) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Unrealized gains (losses) on marketable securities, deferred taxes | $ (1) | $ (1) | $ (19) |
Deferred gains (losses) on cash flow hedges, deferred taxes | 35 | 62 | 3 |
Realized (gains) losses on marketable securities, deferred taxes | 1 | 1 | 59 |
Realized (gains) losses on cash flow hedges, deferred taxes | (54) | (38) | (27) |
Employee benefit obligations, deferred taxes | (125) | (43) | 82 |
Currency translation adjustments, deferred taxes | $ (14) | $ 34 | $ 23 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Operating Activities | |||
Net income | $ 9,045 | $ 8,413 | $ 8,592 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 9,558 | 8,680 | 8,019 |
Share-based compensation | 640 | 567 | 513 |
Noncash interest expense (income), net | 230 | 205 | 180 |
Equity in net (income) losses of investees, net | 104 | 325 | (97) |
Cash received from investees | 85 | 168 | 104 |
Net (gain) loss on investment activity and other | (169) | (318) | 4 |
Deferred income taxes | 1,444 | 958 | 1,165 |
Changes in operating assets and liabilities, net of effects of acquisitions and divestitures: | |||
Current and noncurrent receivables, net | (782) | (708) | (33) |
Film and television costs, net | (495) | (299) | (562) |
Accounts payable and accrued expenses related to trade creditors | 374 | 384 | 153 |
Other operating assets and liabilities | (794) | 403 | (1,093) |
Net cash provided by operating activities | 19,240 | 18,778 | 16,945 |
Investing Activities | |||
Capital expenditures | (9,135) | (8,499) | (7,420) |
Cash paid for intangible assets | (1,686) | (1,370) | (1,122) |
Acquisitions and construction of real estate properties | (428) | (178) | (43) |
Acquisitions, net of cash acquired | (3,929) | (1,786) | (477) |
Proceeds from sales of businesses and investments | 218 | 433 | 666 |
Purchases of investments | (1,697) | (784) | (191) |
Deposits | (1,749) | (18) | 0 |
Other | 21 | 238 | (146) |
Net cash provided by (used in) investing activities | (18,385) | (11,964) | (8,733) |
Financing Activities | |||
Proceeds from (repayments of) short-term borrowings, net | 1,790 | 135 | (504) |
Proceeds from borrowings | 9,231 | 5,486 | 4,182 |
Repurchases and repayments of debt | (3,052) | (4,378) | (3,175) |
Repurchases and retirements of common stock | (5,000) | (6,750) | (4,251) |
Dividends paid | (2,601) | (2,437) | (2,254) |
Issuances of common stock | 23 | 36 | 35 |
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock | (253) | (232) | (220) |
Other | 13 | (289) | 167 |
Net cash provided by (used in) financing activities | 151 | (8,429) | (6,020) |
Increase (decrease) in cash and cash equivalents | 1,006 | (1,615) | 2,192 |
Cash and cash equivalents, beginning of year | 2,295 | 3,910 | 1,718 |
Cash and cash equivalents, end of year | 3,301 | 2,295 | 3,910 |
NBCUniversal Media LLC [Member] | |||
Operating Activities | |||
Net income | 4,546 | 3,624 | 3,297 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||
Depreciation and amortization | 1,805 | 1,539 | 1,495 |
Equity in net (income) losses of investees, net | 99 | 376 | (46) |
Cash received from investees | 68 | 60 | 74 |
Net (gain) loss on investment activity and other | (80) | 56 | 136 |
Deferred income taxes | 89 | (11) | (12) |
Changes in operating assets and liabilities, net of effects of acquisitions and divestitures: | |||
Current and noncurrent receivables, net | (635) | (718) | (25) |
Film and television costs, net | (502) | (304) | (571) |
Accounts payable and accrued expenses related to trade creditors | 51 | 97 | (88) |
Other operating assets and liabilities | (544) | 585 | 264 |
Net cash provided by operating activities | 4,897 | 5,304 | 4,524 |
Investing Activities | |||
Capital expenditures | (1,452) | (1,386) | (1,221) |
Cash paid for intangible assets | (283) | (211) | (130) |
Acquisitions, net of cash acquired | (205) | (1,522) | (118) |
Proceeds from sales of businesses and investments | 109 | 218 | 13 |
Purchases of investments | (290) | (649) | (35) |
Other | (123) | 150 | (122) |
Net cash provided by (used in) investing activities | (2,244) | (3,400) | (1,613) |
Financing Activities | |||
Repurchases and repayments of debt | (1,565) | (1,022) | (906) |
Proceeds from (repayments of) borrowings from Comcast, net | 928 | 854 | 97 |
Distributions to member | (1,606) | (1,385) | (1,641) |
Distributions to noncontrolling interests | (210) | (189) | (177) |
Other | 356 | 0 | (3) |
Net cash provided by (used in) financing activities | (2,097) | (1,742) | (2,630) |
Increase (decrease) in cash and cash equivalents | 556 | 162 | 281 |
Cash and cash equivalents, beginning of year | 1,410 | 1,248 | 967 |
Cash and cash equivalents, end of year | $ 1,966 | $ 1,410 | $ 1,248 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Equity - USD ($) $ in Millions | Total | Redeemable Noncontrolling Interests And Redeemable Subsidiary Preferred Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock at Cost [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Noncontrolling Interest [Member] | NBCUniversal Media LLC [Member] | NBCUniversal Media LLC [Member]Redeemable Noncontrolling Interest [Member] | NBCUniversal Media LLC [Member]Member's Capital [Member] | NBCUniversal Media LLC [Member]Accumulated Other Comprehensive Income (Loss) [Member] | NBCUniversal Media LLC [Member]Noncontrolling Interest [Member] | Class A Common Stock [Member]Common Stock [Member] | Class A Special Common Stock [Member]Common Stock [Member] | Class B Common Stock [Member]Common Stock [Member] |
Beginning Balance at Dec. 31, 2013 | $ 29,327 | $ 29,056 | $ (16) | $ 287 | |||||||||||
Beginning Balance at Dec. 31, 2013 | $ 51,058 | $ 38,890 | $ 19,235 | $ (7,517) | $ 56 | $ 364 | $ 25 | $ 5 | $ 0 | ||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||
Stock compensation plans | 299 | 732 | (433) | ||||||||||||
Repurchases and retirements of common stock | (4,251) | (928) | (3,323) | ||||||||||||
Employee stock purchase plans | 118 | 118 | |||||||||||||
Dividends declared | (2,320) | (2,320) | (1,641) | (1,641) | |||||||||||
Issuance of subsidiary shares to noncontrolling interests | 11 | 11 | 0 | ||||||||||||
Contributions From And Distributions To Noncontrolling Interests | (132) | (132) | (152) | (152) | |||||||||||
Other comprehensive income (loss) | (202) | (202) | (143) | (143) | |||||||||||
Other | (29) | (7) | (22) | (13) | (1) | (12) | |||||||||
Net income (loss) | 8,516 | 8,380 | 136 | 3,259 | 3,115 | 144 | |||||||||
Ending Balance at Dec. 31, 2014 | 53,068 | 38,805 | 21,539 | (7,517) | (146) | 357 | 25 | 5 | 0 | ||||||
Ending Balance at Dec. 31, 2014 | 30,637 | 30,529 | (159) | 267 | |||||||||||
Beginning Balance at Dec. 31, 2013 | $ 957 | $ 231 | |||||||||||||
Increase (Decrease) in Temporary Equity [Roll Forward] | |||||||||||||||
Issuance of subsidiary shares to noncontrolling interests, temporary equity | 85 | 85 | |||||||||||||
Contributions from (distributions to) noncontrolling interests, net | (19) | (24) | |||||||||||||
Other | (33) | ||||||||||||||
Net income (loss) | 76 | 38 | |||||||||||||
Ending Balance at Dec. 31, 2014 | 1,066 | 330 | |||||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||
Stock compensation plans | 337 | 739 | (402) | ||||||||||||
Repurchases and retirements of common stock | (6,750) | (1,345) | (5,404) | (1) | |||||||||||
Employee stock purchase plans | 136 | 136 | |||||||||||||
Dividends declared | (2,483) | (2,483) | (1,385) | (1,385) | |||||||||||
Contributions From And Distributions To Noncontrolling Interests | (146) | (146) | (159) | (159) | |||||||||||
Other comprehensive income (loss) | (57) | (28) | (29) | (82) | (53) | (29) | |||||||||
Contribution from member | 252 | 252 | |||||||||||||
Reclassification of Class A Special common stock | 0 | 4 | (4) | ||||||||||||
Universal Studios Japan | 1,440 | 1,440 | 1,429 | (11) | 1,440 | ||||||||||
Other | 106 | 183 | (77) | 31 | 35 | (4) | |||||||||
Net income (loss) | 8,327 | 8,163 | 164 | 3,580 | 3,414 | 166 | |||||||||
Ending Balance at Dec. 31, 2015 | 53,978 | 38,518 | 21,413 | (7,517) | (174) | 1,709 | 29 | 0 | 0 | ||||||
Ending Balance at Dec. 31, 2015 | 34,303 | 32,834 | (212) | 1,681 | |||||||||||
Increase (Decrease) in Temporary Equity [Roll Forward] | |||||||||||||||
Contributions from (distributions to) noncontrolling interests, net | 11 | (30) | |||||||||||||
Other | 58 | 28 | |||||||||||||
Net income (loss) | 86 | 44 | |||||||||||||
Ending Balance at Dec. 31, 2015 | 1,221 | 1,221 | 372 | 372 | |||||||||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||||||||
Stock compensation plans | 394 | 720 | (326) | ||||||||||||
Repurchases and retirements of common stock | (5,000) | (949) | (4,050) | (1) | |||||||||||
Employee stock purchase plans | 156 | 156 | |||||||||||||
Dividends declared | (2,656) | (2,656) | (1,606) | (1,606) | |||||||||||
Contributions From And Distributions To Noncontrolling Interests | (134) | (134) | (148) | (148) | |||||||||||
Other comprehensive income (loss) | 346 | 272 | 74 | 151 | 77 | 74 | |||||||||
Contribution from member | 3,655 | 3,566 | 89 | ||||||||||||
Other | 138 | (187) | 325 | 165 | 7 | 158 | |||||||||
Net income (loss) | 8,952 | 8,695 | 257 | 4,497 | 4,235 | 262 | |||||||||
Ending Balance at Dec. 31, 2016 | 56,174 | $ 38,258 | $ 23,076 | $ (7,517) | $ 98 | $ 2,231 | $ 28 | $ 0 | $ 0 | ||||||
Ending Balance at Dec. 31, 2016 | 41,017 | $ 39,036 | $ (135) | $ 2,116 | |||||||||||
Increase (Decrease) in Temporary Equity [Roll Forward] | |||||||||||||||
Contributions from (distributions to) noncontrolling interests, net | (16) | (59) | |||||||||||||
Other | 148 | 168 | |||||||||||||
Net income (loss) | 93 | 49 | |||||||||||||
Ending Balance at Dec. 31, 2016 | $ 1,446 | $ 1,446 | $ 530 | $ 530 |
Business and Basis of Presentat
Business and Basis of Presentation | 12 Months Ended |
Dec. 31, 2016 | |
Business And Basis Of Presentation [Line Items] | |
Business and Basis of Presentation | Note 1: Business and Basis of Presentation We are a global media and technology company with two primary businesses, Comcast Cable and NBCUniversal. We were incorporated under the laws of Pennsylvania in December 2001. Through our predecessors, we have developed, managed and operated cable systems since 1963. We present our operations for Comcast Cable in one reportable business segment, referred to as Cable Communications, and our operations for NBCUniversal in four reportable business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks (collectively, the “NBCUniversal segments”). See Note 17 for additional information on our reportable business segments. Our Cable Communications segment primarily manages and operates cable systems that serve residential and business customers in the United States. As of December 31, 2016 , our cable systems had 28.6 million total customer relationships and served 22.5 million video customers, 24.7 million high-speed Internet customers and 11.7 million voice customers. Our Cable Networks segment consists primarily of a diversified portfolio of cable television networks. Our cable networks are comprised of our national cable networks that provide a variety of entertainment, news and information, and sports content, our regional sports and news networks, our international cable networks, and our cable television studio production operations. Our Broadcast Television segment consists primarily of the NBC and Telemundo broadcast networks, our owned NBC and Telemundo local broadcast television stations, the NBC Universo national cable network, and our broadcast television studio production operations. Our Filmed Entertainment segment primarily produces, acquires, markets and distributes filmed entertainment worldwide. Our films are produced primarily under the Universal Pictures, Illumination and Focus Features names and in August 2016, we acquired DreamWorks Animation. See Note 5 for additional information on the acquisition. Our Theme Parks segment consists primarily of our Universal theme parks in Orlando, Florida and Hollywood, California and our 51% interest in the Universal Studios theme park in Osaka, Japan (“Universal Studios Japan”), which we acquired in November 2015. See Note 5 for additional information on the acquisition. Our other business interests, which are included in Corporate and Other, consist primarily of Comcast Spectacor, which owns the Philadelphia Flyers and the Wells Fargo Center arena in Philadelphia, Pennsylvania and operates arena management-related businesses. Basis of Presentation The accompanying consolidated financial statements include all entities in which we have a controlling voting interest and variable interest entities (“VIEs”) required to be consolidated in accordance with generally accepted accounting principles in the United States (“GAAP”). We translate assets and liabilities of our foreign operations where the functional currency is the local currency, primarily the Japanese yen, euro and British pound, into U.S. dollars at the exchange rate as of the balance sheet date and translate revenue and expenses using average monthly exchange rates. The related translation adjustments are recorded as a component of accumulated other comprehensive income (loss) in our consolidated balance sheet. Any foreign currency transaction gains or losses are included in our consolidated statement of income. Reclassifications Reclassifications have been made to our consolidated financial statements for the prior years to conform to classifications used in 2016 . Stock Split On January 24, 2017, our Board of Directors approved a two -for-one stock split in the form of a 100% stock dividend (the “Stock Split”) payable on February 17, 2017 to shareholders of record as of February 8, 2017. The Stock Split will be in the form of one additional share for every share held and will be payable in shares of Class A common stock on the outstanding Class A common stock and Class B common stock. The pro forma diluted earnings per common share attributable to Comcast Corporation shareholders in our consolidated statement of income has been adjusted to reflect the Stock Split for all periods presented. All other share-based data, including the number of shares outstanding and related prices, per share amounts, and share authorizations and conversions have not been adjusted to reflect the Stock Split for any of the periods presented. |
NBCUniversal Media LLC [Member] | |
Business And Basis Of Presentation [Line Items] | |
Business and Basis of Presentation | Note 1: Business and Basis of Presentation Unless indicated otherwise, throughout these notes to the consolidated financial statements, we refer to NBCUniversal and its consolidated subsidiaries as “we,” “us” and “our.” We are one of the world’s leading media and entertainment companies that develops, produces and distributes entertainment, news and information, sports, and other content for global audiences, and owns and operates theme parks worldwide. We present our operations as the following four reportable business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks. See Note 16 for additional information on our reportable business segments. Our Cable Networks segment consists primarily of a diversified portfolio of cable television networks. Our cable networks are comprised of our national cable networks that provide a variety of entertainment, news and information, and sports content, our regional sports and news networks, our international cable networks, and our cable television studio production operations. Our Broadcast Television segment consists primarily of the NBC and Telemundo broadcast networks, our owned NBC and Telemundo local broadcast television stations, the NBC Universo national cable network, and our broadcast television studio production operations. Our Filmed Entertainment segment primarily produces, acquires, markets and distributes filmed entertainment worldwide. Our films are produced primarily under the Universal Pictures, Illumination and Focus Features names and in August 2016, Comcast acquired DreamWorks Animation. See Note 4 for additional information on the acquisition. Our Theme Parks segment consists primarily of our Universal theme parks in Orlando, Florida and Hollywood, California and our 51% interest in the Universal Studios theme park in Osaka, Japan (“Universal Studios Japan”), which we acquired in November 2015. See Note 4 for additional information on the acquisition. Basis of Presentation The accompanying consolidated financial statements include all entities in which we have a controlling voting interest and variable interest entities (“VIEs”) required to be consolidated in accordance with generally accepted accounting principles in the United States (“GAAP”). Transactions between NBCUniversal and both Comcast and Comcast’s consolidated subsidiaries are reflected in these consolidated financial statements and disclosed as related party transactions when material. We translate assets and liabilities of our foreign operations where the functional currency is the local currency, primarily the Japanese yen, euro and British pound, into U.S. dollars at the exchange rate as of the balance sheet date and translate revenue and expenses using average monthly exchange rates. The related translation adjustments are recorded as a component of accumulated other comprehensive income (loss) in our consolidated balance sheet. Any foreign currency transaction gains or losses are included in our consolidated statement of income. |
Accounting Policies
Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Line Items] | |
Accounting Policies | Note 2: Accounting Policies Our consolidated financial statements are prepared in accordance with GAAP, which require us to select accounting policies, including in certain cases industry-specific policies, and make estimates that affect the reported amount of assets, liabilities, revenue and expenses, and the related disclosure of contingent assets and contingent liabilities. Actual results could differ from these estimates. We believe that the judgments and related estimates for the following items are critical in the preparation of our consolidated financial statements: • valuation and impairment testing of cable franchise rights (see Note 9) • film and television costs (see Note 6) In addition, the following accounting policies are specific to the industries in which we operate: • capitalization and amortization of film and television costs (see Note 6) • installation revenue and costs for connecting customers to our cable systems (see revenue recognition below and Note 8) Information on our other accounting policies and methods that are used in the preparation of our consolidated financial statements are included, where applicable, in their respective footnotes that follow. Below is a discussion of accounting policies and methods used in our consolidated financial statements that are not presented within other footnotes. Revenue Recognition Cable Communications Segment Our Cable Communications segment generates revenue primarily from subscriptions to our video, high-speed Internet and voice services (“cable services”) and from the sale of advertising. We recognize revenue from cable services as each service is provided. Customers are typically billed in advance on a monthly basis based on the services and features they receive and the type of equipment they use. Since installation revenue obtained from the connection of customers to our cable systems is less than the related direct selling costs, we recognize revenue as connections are completed. We manage credit risk by screening applicants through the use of internal customer information, identification verification tools and credit bureau data. If a customer’s account is delinquent, various measures are used to collect outstanding amounts, including termination of the customer’s cable services. As part of our distribution agreements with cable networks, we generally receive an allocation of scheduled advertising time on cable networks that we sell through our advertising business, Spotlight, to local, regional and national advertisers. We recognize advertising revenue when the advertising is aired or viewed. In most cases, the available advertising units are sold by our sales force. In some cases, we work with representation firms as an extension of our sales force to sell a portion of the advertising units allocated to us. We also represent the advertising sales efforts of other multichannel video providers in some markets. Since we are acting as the principal in these arrangements, we record the advertising that is sold in revenue and the fees paid to representation firms and multichannel video providers in other operating and administrative expenses. Revenue earned from other sources, such as our home security and automation services, is recognized when services are provided or events occur. Under the terms of our cable franchise agreements, we are generally required to pay to the cable franchising authority an amount based on our gross video revenue. We pass these fees through to our cable services customers and classify the fees as a component of revenue with the corresponding costs included in other operating and administrative expenses. Cable Networks and Broadcast Television Segments Our Cable Networks segment generates revenue primarily from the distribution of our cable network programming to multichannel video providers, from the sale of advertising on our cable networks and related digital media properties, from the licensing of our owned programming to cable and broadcast networks and subscription video on demand services, from the sale of our owned programming on standard-definition digital video discs and Blu-ray discs (together, “DVDs”) and through digital distribution services such as iTunes, and from the sale of programming by our cable television studio production operations to third-party networks and subscription video on demand services. Our Broadcast Television segment generates revenue primarily from the sale of advertising on our broadcast networks, owned local broadcast television stations and related digital media properties, from the licensing of our owned programming by our broadcast television studio production operations to various distribution platforms, including to cable and broadcast networks as well as to subscription video on demand services, from the fees received under retransmission consent agreements and associated fees received from NBC-affiliated local broadcast television stations, and from the sale of our owned programming on DVDs and through digital distribution services. We recognize revenue from distributors as programming is provided, generally under multiyear distribution agreements. From time to time, the distribution agreements expire while programming continues to be provided to the distributor based on interim arrangements while the parties negotiate new contract terms. Revenue recognition is generally limited to current payments being made by the distributor, typically under the prior contract terms, until a new contract is negotiated, sometimes with effective dates that affect prior periods. Differences between actual amounts determined upon resolution of negotiations and amounts recorded during these interim arrangements are recorded in the period of resolution. Advertising revenue for our Cable Networks and Broadcast Television segments is recognized in the period in which commercials are aired or viewed. In some instances, we guarantee audience ratings for the commercials. To the extent there is a shortfall in the ratings that were guaranteed, a portion of the revenue is deferred until the shortfall is settled, primarily by providing additional advertising units. We recognize revenue from the licensing of our owned programming and programming produced by our studios for third parties when the content is made available for use by the licensee, and when certain other conditions are met. When license fees include advertising time, we recognize the component of revenue associated with the advertisements when they are aired or viewed. Filmed Entertainment Segment Our Filmed Entertainment segment generates revenue primarily from the worldwide distribution of our produced and acquired films for exhibition in movie theaters, from the licensing of our owned and acquired films through various distribution platforms, and from the sale of our owned and acquired films on DVDs and through digital distribution services. Our Filmed Entertainment segment also generates revenue from producing and licensing live stage plays, from the distribution of filmed entertainment produced by third parties, and from Fandango, our movie ticketing and entertainment business. We recognize revenue from the distribution of films to movie theaters when the films are exhibited. We recognize revenue from the licensing of a film when the film is available for use by the licensee, and when certain other conditions are met. We recognize revenue from the sale of DVDs, net of estimated returns and customer incentives, on the date that the DVDs are delivered to and made available for sale by retailers. Theme Parks Segment Our Theme Parks segment generates revenue primarily from ticket sales and guest spending at our Universal theme parks. We recognize revenue from advance theme park ticket sales when the tickets are used. For annual passes, we recognize revenue on a straight-line basis over the period following the activation date. Cable Communications Programming Expenses Cable Communications programming expenses are the fees we pay to license the programming we distribute to our video customers. Programming is generally acquired under multiyear distribution agreements, with rates typically based on the number of customers that receive the programming, channel positioning and the extent of distribution. From time to time, these contracts expire and programming continues to be provided under interim arrangements while the parties negotiate new contract terms, sometimes with effective dates that affect prior periods. While payments are typically made under the prior contract’s terms, the amount of programming expenses recorded during the interim arrangement is based on our estimate of the ultimate contract terms expected to be negotiated. Differences between actual amounts determined upon resolution of negotiations and amounts recorded during these interim arrangements are recorded in the period of resolution. When our Cable Communications segment receives incentives from a cable network for the licensing of its programming, we defer a portion of these incentives, which are included in other current and noncurrent liabilities, and recognize them over the term of the contract as a reduction to programming expenses. Advertising Expenses Advertising costs are expensed as incurred. Cash Equivalents The carrying amounts of our cash equivalents approximate their fair values. Our cash equivalents consist primarily of money market funds and U.S. government obligations, as well as commercial paper and certificates of deposit with maturities of three months or less when purchased. Derivative Financial Instruments We use derivative financial instruments to manage our exposure to the risks associated with fluctuations in interest rates, foreign exchange rates and equity prices. Our objective is to manage the financial and operational exposure arising from these risks by offsetting gains and losses on the underlying exposures with gains and losses on the derivatives used to economically hedge them. Our derivative financial instruments are recorded in our consolidated balance sheet at fair value. The impact of our derivative financial instruments on our consolidated financial statements was not material in any of the periods presented. 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). The levels of the hierarchy are described below. • Level 1: Values are determined using quoted market prices for identical financial instruments in an active market • Level 2: Values are determined using quoted prices for similar financial instruments and valuation models whose inputs are observable • Level 3: Values are determined using pricing models that use significant inputs that are primarily unobservable, discounted cash flow methodologies or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation We use these levels of hierarchy for the measurement of fair value related to acquisitions, investments, long-term debt, redeemable subsidiary preferred stock and impairment testing, among others. Our assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation and classification within the fair value hierarchy. Our financial instruments that are accounted for at fair value on a recurring basis were not material as of December 31, 2016 and 2015. Asset Retirement Obligations Certain of our cable franchise agreements and lease agreements contain provisions requiring us to restore facilities or remove property in the event that the franchise or lease agreement is not renewed. We expect to continually renew our cable franchise agreements and therefore cannot reasonably estimate any liabilities associated with such agreements. A remote possibility exists that franchise agreements could be terminated unexpectedly, which could result in us incurring significant expense in complying with restoration or removal provisions. We do not have any significant liabilities related to asset retirements recorded in our consolidated financial statements. |
NBCUniversal Media LLC [Member] | |
Accounting Policies [Line Items] | |
Accounting Policies | Note 2: Accounting Policies Our consolidated financial statements are prepared in accordance with GAAP, which require us to select accounting policies, including in certain cases industry-specific policies, and make estimates that affect the reported amount of assets, liabilities, revenue and expenses, and the related disclosure of contingent assets and contingent liabilities. Actual results could differ from these estimates. We believe that the judgments and related estimates for the following items are critical in the preparation of our consolidated financial statements: • revenue recognition (see below) • film and television costs (see Note 6) • goodwill and intangible assets (see Note 9) In addition, the following accounting policy is specific to the industries in which we operate: • capitalization and amortization of film and television costs (see Note 6) Information on our other accounting policies and methods that are used in the preparation of our consolidated financial statements are included, where applicable, in their respective footnotes that follow. Below is a discussion of accounting policies and methods used in our consolidated financial statements that are not presented within other footnotes. Revenue Recognition Cable Networks and Broadcast Television Segments Our Cable Networks segment generates revenue primarily from the distribution of our cable network programming to multichannel video providers, from the sale of advertising on our cable networks and related digital media properties, from the licensing of our owned programming to cable and broadcast networks and subscription video on demand services, from the sale of our owned programming on standard-definition digital video discs and Blu-ray discs (together, “DVDs”) and through digital distribution services such as iTunes, and from the sale of programming by our cable television studio production operations to third-party networks and subscription video on demand services. Our Broadcast Television segment generates revenue primarily from the sale of advertising on our broadcast networks, owned local broadcast television stations and related digital media properties, from the licensing of our owned programming by our broadcast television studio production operations to various distribution platforms, including to cable and broadcast networks as well as to subscription video on demand services, from the fees received under retransmission consent agreements and associated fees received from NBC-affiliated local broadcast television stations, and from the sale of our owned programming on DVDs and through digital distribution services. We recognize revenue from distributors as programming is provided, generally under multiyear distribution agreements. From time to time, the distribution agreements expire while programming continues to be provided to the distributor based on interim arrangements while the parties negotiate new contract terms. Revenue recognition is generally limited to current payments being made by the distributor, typically under the prior contract terms, until a new contract is negotiated, sometimes with effective dates that affect prior periods. Differences between actual amounts determined upon resolution of negotiations and amounts recorded during these interim arrangements are recorded in the period of resolution. Advertising revenue for our Cable Networks and Broadcast Television segments is recognized in the period in which commercials are aired or viewed. In some instances, we guarantee audience ratings for the commercials. To the extent there is a shortfall in the ratings that were guaranteed, a portion of the revenue is deferred until the shortfall is settled, primarily by providing additional advertising units. We recognize revenue from the licensing of our owned programming and programming produced by our studios for third parties when the content is made available for use by the licensee, and when certain other conditions are met. When license fees include advertising time, we recognize the component of revenue associated with the advertisements when they are aired or viewed. Filmed Entertainment Segment Our Filmed Entertainment segment generates revenue primarily from the worldwide distribution of our produced and acquired films for exhibition in movie theaters, from the licensing of our owned and acquired films through various distribution platforms, and from the sale of our owned and acquired films on DVDs and through digital distribution services. Our Filmed Entertainment segment also generates revenue from producing and licensing live stage plays, from the distribution of filmed entertainment produced by third parties, and from Fandango, our movie ticketing and entertainment business. We recognize revenue from the distribution of films to movie theaters when the films are exhibited. We recognize revenue from the licensing of a film when the film is available for use by the licensee, and when certain other conditions are met. We recognize revenue from the sale of DVDs, net of estimated returns and customer incentives, on the date that the DVDs are delivered to and made available for sale by retailers. Theme Parks Segment Our Theme Parks segment generates revenue primarily from ticket sales and guest spending at our Universal theme parks. We recognize revenue from advance theme park ticket sales when the tickets are used. For annual passes, we recognize revenue on a straight-line basis over the period following the activation date. Advertising Expenses Advertising costs are expensed as incurred. Cash Equivalents The carrying amounts of our cash equivalents approximate their fair values. Our cash equivalents consist primarily of money market funds and U.S. government obligations, as well as commercial paper and certificates of deposit with maturities of three months or less when purchased. Derivative Financial Instruments We use derivative financial instruments to manage our exposure to the risks associated with fluctuations in foreign exchange rates and interest rates. Our objective is to manage the financial and operational exposure arising from these risks by offsetting gains and losses on the underlying exposures with gains and losses on the derivatives used to economically hedge them. Our derivative financial instruments are recorded in our consolidated balance sheet at fair value. The impact of our derivative financial instruments on our consolidated financial statements was not material for all periods presented. 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). The levels of the hierarchy are described below. • Level 1: Values are determined using quoted market prices for identical financial instruments in an active market • Level 2: Values are determined using quoted prices for similar financial instruments and valuation models whose inputs are observable • Level 3: Values are determined using pricing models that use significant inputs that are primarily unobservable, discounted cash flow methodologies or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation We use these levels of hierarchy for the measurement of fair value related to acquisitions, investments, long-term debt and impairment testing, among others. Our assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation and classification within the fair value hierarchy. Our financial instruments that are accounted for at fair value on a recurring basis were not material as of December 31, 2016 and 2015. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 12 Months Ended |
Dec. 31, 2016 | |
Recent Accounting Pronouncements [Line Items] | |
Recent Accounting Pronouncements | Note 3: Recent Accounting Pronouncements Revenue Recognition In May 2014, the Financial Accounting Standards Board (“FASB”) 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. The updated accounting guidance is effective for us as of January 1, 2018. We have reviewed a majority of our revenue arrangements and expect our review to be completed in the second quarter of 2017. As a result of our review, we do not expect any material impact on our consolidated financial statements. However, we do expect that the new standard will impact the timing of recognition for (1) our Cable Communications segment’s installation revenue and commission expenses, which upon adoption will be recognized as revenue and costs over a period of time instead of immediately, and (2) our Cable Networks, Broadcast Television and Filmed Entertainment segments’ content licensing revenue associated with renewals or extensions of existing program licensing agreements, which upon adoption will be recognized as revenue when the licensed content becomes available under the renewal or extension instead of when the agreement is renewed or extended. The guidance provides companies with alternative methods of adoption and we are in the process of determining our method of adoption, which depends in part upon our completion of the evaluation of our remaining revenue arrangements. Consolidations In February 2015, the FASB updated the accounting guidance related to consolidation under the variable interest entity and voting interest entity models. The updated accounting guidance modifies the consolidation guidance for VIEs, limited partnerships and similar legal entities. We have adopted this guidance as of January 1, 2016 and it did not have a material impact on our consolidated financial statements. Financial Assets and Financial Liabilities In January 2016, the FASB updated the accounting guidance related to the recognition and measurement of financial assets and financial liabilities. The updated accounting guidance, among other things, requires that all nonconsolidated equity investments, except those accounted for under the equity method, be measured at fair value and that the changes in fair value be recognized in net income. The updated guidance is effective for us as of January 1, 2018. The updated accounting guidance requires, with certain exceptions, a cumulative effect adjustment to beginning retained earnings when the guidance is adopted. We are currently in the process of determining the impact that the updated accounting guidance will have on our consolidated financial statements. Leases In February 2016, the FASB updated the accounting guidance related to leases. The updated accounting guidance requires lessees to recognize a right-of-use asset and a lease liability on the balance sheet for all leases with the exception of short-term leases. The asset and liability are initially measured based on the present value of committed lease payments. For a lessee, the recognition, measurement and presentation of expenses and cash flows arising from a lease do not significantly change from previous guidance. For a lessor, the accounting applied is also largely unchanged from previous guidance. The updated guidance is effective for us as of January 1, 2019 and early adoption is permitted. The updated accounting guidance must be adopted using a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. We are currently in the process of determining the impact that the updated accounting guidance will have on our consolidated financial statements. See Note 16 for a summary of our undiscounted minimum rental commitments under operating leases as of December 31, 2016. Share-Based Compensation In March 2016, the FASB updated the accounting guidance that affects several aspects of the accounting for share-based compensation. The most significant change for us relates to the presentation of the income and withholding tax consequences of share-based compensation in our consolidated financial statements. Among the changes, the updated guidance requires that the excess income tax benefits or deficiencies that arise when the tax consequences of share-based compensation differ from amounts previously recognized in the statement of income be recognized as income tax benefit or expense in the statement of income rather than as additional paid-in capital in the balance sheet. The guidance also states that excess income tax benefits should not be presented separately from other income taxes in the statement of cash flows and, thus, should be classified as an operating activity rather than a financing activity as they are under the current guidance. In addition, the updated guidance requires when an employer withholds shares upon exercise of options or the vesting of restricted stock for the purpose of meeting withholding tax requirements, that the cash paid for withholding taxes be classified as a financing activity. We currently record these amounts within operating activities. We will adopt the updated guidance in the first quarter of 2017. As required under the updated guidance, we will prospectively adopt the provisions of this guidance that relate to the recognition of the excess income tax benefits or deficiencies in the statement of income. If we had adopted the updated guidance in 2016, our income tax expense and effective tax rate would have decreased by $233 million and 1.6% , respectively, and our diluted earnings per common share attributable to Comcast Corporation shareholders in 2016 would have increased by $0.08 . In addition, upon adoption we will retrospectively adopt the provisions of this guidance related to changes to the statement of cash flows in any of the periods presented. The table below presents the effect on our consolidated statement of cash flows for each of the years ended December 31, 2016, 2015 and 2014. These amounts are not necessarily indicative of amounts that we will recognize in future years related to the excess income tax benefits or deficiencies nor the cash paid for withholding taxes. Year ended December 31 (in millions) As Reported Effect of Adoption Upon Adoption 2016 Net cash provided by operating activities $ 19,240 $ 585 $ 19,825 Net cash provided by (used in) financing activities $ 151 $ (585 ) $ (434 ) 2015 Net cash provided by operating activities $ 18,778 $ 708 $ 19,486 Net cash provided by (used in) financing activities $ (8,429 ) $ (708 ) $ (9,137 ) 2014 Net cash provided by operating activities $ 16,945 $ 652 $ 17,597 Net cash provided by (used in) financing activities $ (6,020 ) $ (652 ) $ (6,672 ) |
NBCUniversal Media LLC [Member] | |
Recent Accounting Pronouncements [Line Items] | |
Recent Accounting Pronouncements | Note 3: Recent Accounting Pronouncements Revenue Recognition In May 2014, the Financial Accounting Standards Board (“FASB”) 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. The updated accounting guidance is effective for us as of January 1, 2018. We have reviewed a majority of our revenue arrangements and expect our review to be completed in the second quarter of 2017. As a result of our review, we do not expect any material impact on our consolidated financial statements. However, we do expect that the new standard will impact the timing of recognition for our Cable Networks, Broadcast Television and Filmed Entertainment segments’ content licensing revenue associated with renewals or extensions of existing program licensing agreements, which upon adoption will be recognized as revenue when the licensed content becomes available under the renewal or extension instead of when the agreement is renewed or extended. The guidance provides companies with alternative methods of adoption and we are in the process of determining our method of adoption, which depends in part upon our completion of the evaluation of our remaining revenue arrangements. Consolidations In February 2015, the FASB updated the accounting guidance related to consolidation under the variable interest entity and voting interest entity models. The updated accounting guidance modifies the consolidation guidance for VIEs, limited partnerships and similar legal entities. We have adopted this guidance as of January 1, 2016 and it did not have a material impact on our consolidated financial statements. Financial Assets and Financial Liabilities In January 2016, the FASB updated the accounting guidance related to the recognition and measurement of financial assets and financial liabilities. The updated accounting guidance, among other things, requires that all nonconsolidated equity investments, except those accounted for under the equity method, be measured at fair value and that the changes in fair value be recognized in net income. The updated guidance is effective for us as of January 1, 2018. The updated accounting guidance requires, with certain exceptions, a cumulative effect adjustment to beginning retained earnings when the guidance is adopted. We are currently in the process of determining the impact that the updated accounting guidance will have on our consolidated financial statements. Leases In February 2016, the FASB updated the accounting guidance related to leases. The updated accounting guidance requires lessees to recognize a right-of-use asset and a lease liability on the balance sheet for all leases with the exception of short-term leases. The asset and liability are initially measured based on the present value of committed lease payments. For a lessee, the recognition, measurement and presentation of expenses and cash flows arising from a lease do not significantly change from previous guidance. For a lessor, the accounting applied is also largely unchanged from previous guidance. The updated guidance is effective for us as of January 1, 2019 and early adoption is permitted. The updated accounting guidance must be adopted using a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. We are currently in the process of determining the impact that the updated accounting guidance will have on our consolidated financial statements. See Note 15 for a summary of our undiscounted minimum rental commitments under operating leases as of December 31, 2016. Share-Based Compensation In March 2016, the FASB updated the accounting guidance that affects several aspects of the accounting for share-based compensation. Among the changes, the updated guidance requires that the excess income tax benefits or deficiencies that arise when the tax consequences of share-based compensation differ from amounts previously recognized in the statement of income be recognized as income tax benefit or expense in the statement of income rather than as additional paid-in capital in the balance sheet. The guidance also states that excess income tax benefits should not be presented separately from other income taxes in the statement of cash flows and, thus, should be classified as an operating activity rather than a financing activity as they are under the current guidance. In addition, the updated guidance requires when an employer withholds shares upon exercise of options or the vesting of restricted stock for the purpose of meeting withholding tax requirements, that the cash paid for withholding taxes be classified as a financing activity. We will adopt the updated guidance in the first quarter of 2017. As a limited liability company, the updated guidance related to the excess income tax benefits or deficiencies to be recognized in the statement of income will not have a material impact on our consolidated financial statements. In addition, as the share-based compensation expense is settled in cash with Comcast, we do not expect the updated accounting guidance to have a material impact on our statement of cash flows. |
Earnings Per Share
Earnings Per Share | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Note 4: Earnings Per Share Computation of Diluted EPS 2016 2015 2014 Year ended December 31 Net Income Shares Per Share Net Income Shares Per Share Net Income Shares Per Share Basic EPS attributable to Comcast Corporation shareholders $ 8,695 2,410 $ 3.61 $ 8,163 2,486 $ 3.28 $ 8,380 2,583 $ 3.24 Effect of dilutive securities: Assumed exercise or issuance of shares relating to stock plans 28 32 37 Diluted EPS attributable to Comcast Corporation shareholders $ 8,695 2,438 $ 3.57 $ 8,163 2,518 $ 3.24 $ 8,380 2,620 $ 3.20 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”). Diluted EPS excludes the impact of potential common shares related to our stock options in periods in which the combination of the option exercise price and the associated unrecognized compensation expense is greater than the average market price of our common stock. 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 material in any of the periods presented. |
Significant Transactions
Significant Transactions | 12 Months Ended |
Dec. 31, 2016 | |
Business Acquisition [Line Items] | |
Significant Transactions | Note 5: Significant Transactions 2016 DreamWorks Animation On August 22, 2016, we acquired all of the outstanding stock of DreamWorks Animation for $ 3.8 billion . DreamWorks Animation’s stockholders received $ 41 in cash for each share of DreamWorks Animation common stock. DreamWorks Animation creates animated feature films, television series and specials, live entertainment and related consumer products. The results of operations for DreamWorks Animation are reported in our Filmed Entertainment segment following the acquisition date. Preliminary Allocation of Purchase Price The transaction was accounted for under the acquisition method of accounting and, accordingly, the assets and liabilities are to be recorded at their fair market values as of the acquisition date. We recorded the acquired assets and liabilities of DreamWorks Animation at their estimated fair values based on preliminary valuation analyses. In valuing acquired assets and liabilities, fair value estimates are primarily based on Level 3 inputs including future expected cash flows, market rate assumptions and discount rates. The fair value of the assumed debt was primarily based on quoted market values. The fair value of the liability related to a tax receivable agreement that DreamWorks Animation had previously entered into with one of its former stockholders (the “tax receivable agreement”) was based on the contractual settlement provisions in the agreement. Further, we recorded the deferred income taxes based on our estimates of the tax basis of the acquired net assets and the valuation allowances based on the expected use of net operating loss carryforwards. The goodwill is not deductible for tax purposes. We will adjust the assets and liabilities as valuations are completed and we obtain information necessary to complete the analyses, but no later than one year from the acquisition date. The table below presents the preliminary allocation of the purchase price to the assets and liabilities of DreamWorks Animation. Preliminary Allocation of Purchase Price (in millions) Film and television costs (see Note 6) $ 854 Intangible assets (see Note 9) 164 Working capital 248 Debt (see Note 10) (381 ) Tax receivable agreement (146 ) Deferred income taxes (see Note 14) 366 Other noncurrent assets and liabilities 137 Identifiable net assets (liabilities) acquired 1,242 Noncontrolling interest (89 ) Goodwill (see Note 9) 2,620 Cash consideration transferred $ 3,773 The tax receivable agreement was settled immediately following the acquisition and the payment was recorded as an operating activity in our consolidated statement of cash flows. In addition, we repaid all of the assumed debt of DreamWorks Animation. Revenue and net income attributable to the acquisition of DreamWorks Animation were not material for 2016. 2015 Universal Studios Japan On November 13, 2015, NBCUniversal acquired a 51% economic interest in Universal Studios Japan for $1.5 billion . Universal Studios Japan is a VIE based on the governance structure and we consolidate Universal Studios Japan since we have the power to direct activities that most significantly impact its economic performance. There are no liquidity arrangements, guarantees or other financial commitments between us and Universal Studios Japan, and therefore our maximum risk of financial loss is NBCUniversal’s 51% interest. Universal Studios Japan’s results of operations are reported in our Theme Parks segment following the acquisition date. Allocation of Purchase Price The transaction was accounted for under the acquisition method of accounting and, accordingly, the acquired assets and liabilities and the 49% noncontrolling interest were recorded at their estimated fair values. In 2016, we updated the allocation of the purchase price for Universal Studios Japan based on final valuation analyses, which primarily resulted in increases to property and equipment and intangible assets and a decrease in goodwill. The changes did not have a material impact on our consolidated financial statements. The goodwill is not deductible for tax purposes. The table below presents the allocation of the purchase price to the assets and liabilities of Universal Studios Japan. Allocation of Purchase Price (in millions) Property and equipment (see Note 8) $ 780 Intangible assets (see Note 9) 323 Working capital (33 ) Debt (see Note 10) (3,271 ) Other noncurrent assets and liabilities 17 Identifiable net assets (liabilities) acquired (2,184 ) Noncontrolling interest (1,440 ) Goodwill (see Note 9) 5,123 Cash consideration transferred $ 1,499 Actual and Unaudited Pro Forma Results Our consolidated revenue in 2016 and 2015 included $1.4 billion and $169 million , respectively, from the acquisition of Universal Studios Japan. Our net income attributable to Comcast Corporation in 2016 and 2015 included $124 million and $18 million , respectively, from the acquisition of Universal Studios Japan. The following unaudited pro forma information has been presented as if the acquisition of Universal Studios Japan occurred on January 1, 2014. This information is primarily based on historical results of operations, adjusted for the allocation of purchase price, and is not necessarily indicative of what our results would have been had we operated Universal Studios Japan since January 1, 2014. No pro forma adjustments have been made for our transaction-related expenses. Year ended December 31 (in millions, except per share amounts) 2015 2014 Revenue $ 75,563 $ 69,860 Net income $ 8,591 $ 8,704 Net income attributable to Comcast Corporation $ 8,253 $ 8,435 Basic earnings per common share attributable to Comcast Corporation shareholders $ 3.32 $ 3.27 Diluted earnings per common share attributable to Comcast Corporation shareholders $ 3.28 $ 3.22 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 agreement 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 $198 million and $237 million in 2015 and 2014, respectively. The transaction-related expenses are included primarily in other operating and administrative expenses, with $20 million recorded in depreciation and amortization expenses associated with the write-off of certain capitalized costs in 2015. |
NBCUniversal Media LLC [Member] | |
Business Acquisition [Line Items] | |
Significant Transactions | Note 4: Significant Transactions 2016 DreamWorks Animation On August 22, 2016, Comcast acquired all of the outstanding stock of DreamWorks Animation for $ 3.8 billion . DreamWorks Animation’s stockholders received $ 41 in cash for each share of DreamWorks Animation common stock. DreamWorks Animation creates animated feature films, television series and specials, live entertainment and related consumer products. Following the acquisition, Comcast converted DreamWorks Animation to a limited liability company and contributed its equity to us as a capital contribution. The net assets contributed to us excluded deferred income taxes and other tax-related items recorded by Comcast. The results of operations for DreamWorks Animation are reported in our Filmed Entertainment segment following the acquisition date and are presented as if the equity contribution occurred on the date of Comcast’s acquisition. Preliminary Allocation of Purchase Price The transaction was accounted for under the acquisition method of accounting and, accordingly, the assets and liabilities are to be recorded at their fair market values as of the acquisition date. We recorded the acquired assets and liabilities of DreamWorks Animation at their estimated fair values based on preliminary valuation analyses. In valuing acquired assets and liabilities, fair value estimates are primarily based on Level 3 inputs including future expected cash flows, market rate assumptions and discount rates. The fair value of the assumed debt was primarily based on quoted market values. The fair value of the liability related to a tax receivable agreement that DreamWorks Animation had previously entered into with one of its former stockholders (the “tax receivable agreement”) was based on the contractual settlement provisions in the agreement. We will adjust the assets and liabilities as valuations are completed and we obtain information necessary to complete the analyses, but no later than one year from the acquisition date. The table below presents the preliminary allocation of the purchase price to the assets and liabilities of DreamWorks Animation. Preliminary Allocation of Purchase Price (in millions) Film and television costs (see Note 6) $ 854 Intangible assets (see Note 9) 164 Working capital 248 Debt (see Note 10) (381 ) Tax receivable agreement (a) (146 ) Other noncurrent assets and liabilities and other (b) 503 Identifiable net assets (liabilities) acquired 1,242 Noncontrolling interest (89 ) Goodwill (see Note 9) 2,620 Cash consideration transferred by Comcast $ 3,773 (a) The tax receivable agreement was settled immediately following the acquisition and the payment was recorded as an operating activity in our consolidated statement of cash flows. Comcast made a separate cash capital contribution of $146 million to fund the settlement which was recorded as a financing activity in our consolidated statement of cash flows. (b) Other included $353 million recorded to member’s capital that represented deferred income tax assets and other tax-related items recorded by Comcast but excluded from the net assets contributed to us. Revenue and net income attributable to the acquisition of DreamWorks Animation were not material for 2016. 2015 Universal Studios Japan On November 13, 2015, we acquired a 51% economic interest in Universal Studios Japan for $1.5 billion . Universal Studios Japan is a VIE based on the governance structure and we consolidate Universal Studios Japan since we have the power to direct activities that most significantly impact its economic performance. There are no liquidity arrangements, guarantees or other financial commitments between us and Universal Studios Japan, and therefore our maximum risk of financial loss is our 51% interest. Universal Studios Japan’s results of operations are reported in our Theme Parks segment following the acquisition date. Allocation of Purchase Price The transaction was accounted for under the acquisition method of accounting and, accordingly, the acquired assets and liabilities and the 49% noncontrolling interest were recorded at their estimated fair values. In 2016, we updated the allocation of the purchase price for Universal Studios Japan based on final valuation analyses, which primarily resulted in increases to property and equipment and intangible assets and a decrease in goodwill. The changes did not have a material impact on our consolidated financial statements. The table below presents the allocation of the purchase price to the assets and liabilities of Universal Studios Japan. Allocation of Purchase Price (in millions) Property and equipment (see Note 8) $ 780 Intangible assets (see Note 9) 323 Working capital (33 ) Debt (see Note 10) (3,271 ) Other noncurrent assets and liabilities and other 17 Identifiable net assets (liabilities) acquired (2,184 ) Noncontrolling interest (1,440 ) Goodwill (see Note 9) 5,123 Cash consideration transferred $ 1,499 Actual and Unaudited Pro Forma Results Our consolidated revenue in 2016 and 2015 included $1.4 billion and $169 million , respectively, from the acquisition of Universal Studios Japan. Our net income attributable to NBCUniversal in 2016 and 2015 included $124 million and $18 million , respectively, from the acquisition of Universal Studios Japan. The following unaudited pro forma information has been presented as if the acquisition of Universal Studios Japan occurred on January 1, 2014. This information is primarily based on historical results of operations, adjusted for the allocation of purchase price, and is not necessarily indicative of what our results would have been had we operated Universal Studios Japan since January 1, 2014. No pro forma adjustments have been made for our transaction-related expenses. Year ended December 31 (in millions) 2015 2014 Revenue $ 29,514 $ 26,513 Net income $ 3,801 $ 3,409 Net income attributable to NBCUniversal $ 3,503 $ 3,170 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2016 | |
NBCUniversal Media LLC [Member] | |
Related Party Transaction [Line Items] | |
Related Party Transactions | Note 5: 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, the fees received under retransmission consent agreements in our Broadcast Television segment and, to a lesser extent, the sale of advertising and our owned programming, and we incur expenses primarily related to advertising and various support services provided by Comcast to us. In September 2016, as part of the Comcast cash management process, we and Comcast amended and restated our revolving credit agreements to increase the amount that we can borrow from Comcast and that Comcast can borrow from us from $3 billion to $5 billion and to extend the maturity date to 2026. Amounts owed by us to Comcast or to us by Comcast under the revolving credit agreement, including accrued interest, are presented under the captions “note payable to Comcast” and “note receivable from Comcast,” respectively, in our consolidated balance sheet and are presented as current as there are daily borrowings and repayments throughout the year based on our working capital needs. The revolving credit agreements bear interest at floating rates equal to the interest rate calculation under Comcast’s revolving credit facility. The interest rate on Comcast’s revolving credit facility consists of a base rate plus a borrowing margin that is determined based on Comcast’s credit rating. As of December 31, 2016 , the borrowing margin for London Interbank Offered Rate-based borrowings was 1.00% . Comcast is also the counterparty to one of our contractual obligations. As of both December 31, 2016 and 2015 , the carrying value of the liability associated with this contractual obligation was $383 million . The following tables present transactions with Comcast and its consolidated subsidiaries that are included in our consolidated financial statements. Consolidated Balance Sheet December 31 (in millions) 2016 2015 Transactions with Comcast and Consolidated Subsidiaries Receivables, net $ 285 $ 239 Accounts payable and accrued expenses related to trade creditors $ 55 $ 68 Accrued expenses and other current liabilities $ 4 $ 51 Note payable to Comcast $ 2,703 $ 1,750 Other noncurrent liabilities $ 389 $ 383 Consolidated Statement of Income Year ended December 31 (in millions) 2016 2015 2014 Transactions with Comcast and Consolidated Subsidiaries Revenue $ 1,742 $ 1,349 $ 1,315 Operating costs and expenses $ (220 ) $ (246 ) $ (162 ) Other income (expense) $ (69 ) $ (37 ) $ (43 ) Distributions to NBCUniversal Holdings In addition to the transactions amounts presented in the table above, we make distributions to NBCUniversal Holdings on a periodic basis to enable its owners to meet their obligations to pay taxes on taxable income generated by our businesses. We also make quarterly distributions to NBCUniversal Holdings to enable it to make its required quarterly payments to NBCUniversal Enterprise at an annual rate of 8.25% on the $9.4 billion aggregate liquidation preference of its preferred units. These distributions are presented under the caption “distributions to member” in our consolidated statement of cash flows. |
Film and Television Costs
Film and Television Costs | 12 Months Ended |
Dec. 31, 2016 | |
Film And Television Cost [Line Items] | |
Film and Television Costs | Note 6: Film and Television Costs December 31 (in millions) 2016 2015 Film Costs: Released, less amortization $ 1,750 $ 1,275 Completed, not released 50 226 In production and in development 1,310 907 3,110 2,408 Television Costs: Released, less amortization 1,953 1,573 In production and in development 853 737 2,806 2,310 Programming rights, less amortization 2,586 2,350 8,502 7,068 Less: Current portion of programming rights 1,250 1,213 Film and television costs $ 7,252 $ 5,855 Based on our current estimates of the total remaining revenue from all sources (“ultimate revenue”), in 2017 we expect to amortize approximately $1.9 billion of film and television costs associated with our original film and television productions that have been released, or are completed and have not been released. Through 2019, we expect to amortize approximately 88% of unamortized film and television costs for our released productions, excluding amounts allocated to acquired libraries. As of December 31, 2016 , acquired film and television libraries, which are included within the “released, less amortization” captions in the table above, had remaining unamortized costs of $596 million . These costs are generally amortized over a period not to exceed 20 years, and approximately 45% of these costs are expected to be amortized through 2019. Capitalization of Film and Television Costs We capitalize film and television production costs, including direct costs, production overhead, print costs, development costs and interest. We amortize capitalized film and television production costs, including acquired libraries, and accrue costs associated with participation and residual payments to programming and production expenses. We generally record the amortization and the accrued costs using the individual film forecast computation method, which amortizes the costs in the same ratio as the associated ultimate revenue. Estimates of ultimate revenue and total costs are based on anticipated release patterns, public acceptance and historical results for similar productions. Unamortized film and television costs, including acquired film and television libraries, are stated at the lower of unamortized cost or fair value. We do not capitalize costs related to the distribution of a film in movie theaters or the licensing or sale of a film or television production, which are primarily costs associated with the marketing and distribution of them. In determining the method of amortization and estimated life of an acquired film or television library, we generally use the method and the life that most closely follow the undiscounted cash flows over the estimated life of the asset. When an event or a change in circumstance occurs that was known or knowable as of the balance sheet date and that indicates the fair value of a film is less than its unamortized costs, we determine the fair value of the film and record an impairment charge for the amount by which the unamortized capitalized costs exceed the film’s fair value. The estimated fair value of a production is based on Level 3 inputs that primarily use an analysis of future expected cash flows. Adjustments to capitalized film and stage play production costs of $14 million , $42 million and $26 million were recorded in 2016 , 2015 and 2014 , respectively. We enter into cofinancing arrangements with third parties to jointly finance or distribute certain of our film productions. Cofinancing arrangements can take various forms, but in most cases involve the grant of an economic interest in a film to an investor. The number of investors and the terms of these arrangements can vary, although investors generally assume the full risks and rewards for the portion of the film acquired in these arrangements. We account for the proceeds received from a third-party investor under these arrangements as a reduction to our capitalized film costs. Under these arrangements, the investor owns an undivided copyright interest in the film, and therefore in each period we record either a charge or a benefit to programming and production expenses to reflect the estimate of the third-party investor’s interest in the profit or loss of the film. The estimate of the third-party investor’s interest in the profit or loss of a film is determined using the ratio of actual revenue earned to date to the ultimate revenue expected to be recognized over the film’s useful life. We capitalize the costs of programming content that we license but do not own, including rights to multiyear, live-event sports programming, at the earlier of when payments are made for the programming or when the license period begins and the content is made available for use. We amortize capitalized programming costs as the associated programs are broadcast. We generally amortize multiyear, live-event sports programming rights using the ratio of the current period revenue to the estimated ultimate revenue or under the terms of the contract. Acquired programming costs are recorded at the lower of unamortized cost or net realizable value on a program by program, package, channel or daypart basis. A daypart is an aggregation of programs broadcast during a particular time of day or programs of a similar type. Programming acquired by our Cable Networks segment is primarily tested on a channel basis for impairment, whereas programming acquired by our Broadcast Television segment is tested on a daypart basis. If we determine that the estimates of future cash flows are insufficient or if there is no plan to broadcast certain programming, we recognize an impairment charge to programming and production expenses. |
NBCUniversal Media LLC [Member] | |
Film And Television Cost [Line Items] | |
Film and Television Costs | Note 6: Film and Television Costs December 31 (in millions) 2016 2015 Film Costs: Released, less amortization $ 1,750 $ 1,275 Completed, not released 50 226 In production and in development 1,310 907 3,110 2,408 Television Costs: Released, less amortization 1,953 1,573 In production and in development 853 737 2,806 2,310 Programming rights, less amortization 2,570 2,329 8,486 7,047 Less: Current portion of programming rights 1,241 1,200 Film and television costs $ 7,245 $ 5,847 Based on our current estimates of the total remaining revenue from all sources (“ultimate revenue”), in 2017 we expect to amortize approximately $1.9 billion of film and television costs associated with our original film and television productions that have been released, or are completed and have not been released. Through 2019, we expect to amortize approximately 88% of unamortized film and television costs for our released productions, excluding amounts allocated to acquired libraries. As of December 31, 2016 , acquired film and television libraries, which are included within the “released, less amortization” captions in the table above, had remaining unamortized costs of $596 million . These costs are generally amortized over a period not to exceed 20 years, and approximately 45% of these costs are expected to be amortized through 2019. Capitalization of Film and Television Costs We capitalize film and television production costs, including direct costs, production overhead, print costs, development costs and interest. We amortize capitalized film and television production costs, including acquired libraries, and accrue costs associated with participation and residual payments to programming and production expenses. We generally record the amortization and the accrued costs using the individual film forecast computation method, which amortizes the costs in the same ratio as the associated ultimate revenue. Estimates of ultimate revenue and total costs are based on anticipated release patterns, public acceptance and historical results for similar productions. Unamortized film and television costs, including acquired film and television libraries, are stated at the lower of unamortized cost or fair value. We do not capitalize costs related to the distribution of a film in movie theaters or the licensing or sale of a film or television production, which are primarily costs associated with the marketing and distribution of them. In determining the method of amortization and estimated life of an acquired film or television library, we generally use the method and the life that most closely follow the undiscounted cash flows over the estimated life of the asset. When an event or a change in circumstance occurs that was known or knowable as of the balance sheet date and that indicates the fair value of a film is less than its unamortized costs, we determine the fair value of the film and record an impairment charge for the amount by which the unamortized capitalized costs exceed the film’s fair value. The estimated fair value of a production is based on Level 3 inputs that primarily use an analysis of future expected cash flows. Adjustments to capitalized film and stage play production costs of $14 million , $42 million and $26 million were recorded in 2016 , 2015 and 2014 , respectively. We enter into cofinancing arrangements with third parties to jointly finance or distribute certain of our film productions. Cofinancing arrangements can take various forms, but in most cases involve the grant of an economic interest in a film to an investor. The number of investors and the terms of these arrangements can vary, although investors generally assume the full risks and rewards for the portion of the film acquired in these arrangements. We account for the proceeds received from a third-party investor under these arrangements as a reduction to our capitalized film costs. Under these arrangements, the investor owns an undivided copyright interest in the film, and therefore in each period we record either a charge or a benefit to programming and production expenses to reflect the estimate of the third-party investor’s interest in the profit or loss of the film. The estimate of the third-party investor’s interest in the profit or loss of a film is determined using the ratio of actual revenue earned to date to the ultimate revenue expected to be recognized over the film’s useful life. We capitalize the costs of programming content that we license but do not own, including rights to multiyear, live-event sports programming, at the earlier of when payments are made for the programming or when the license period begins and the content is made available for use. We amortize capitalized programming costs as the associated programs are broadcast. We generally amortize multiyear, live-event sports programming rights using the ratio of the current period revenue to the estimated ultimate revenue or under the terms of the contract. Acquired programming costs are recorded at the lower of unamortized cost or net realizable value on a program by program, package, channel or daypart basis. A daypart is an aggregation of programs broadcast during a particular time of day or programs of a similar type. Programming acquired by our Cable Networks segment is primarily tested on a channel basis for impairment, whereas programming acquired by our Broadcast Television segment is tested on a daypart basis. If we determine that the estimates of future cash flows are insufficient or if there is no plan to broadcast certain programming, we recognize an impairment charge to programming and production expenses. |
Investments
Investments | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value, Equity And Cost Method Investments [Line Items] | |
Investments | Note 7: Investments December 31 (in millions) 2016 2015 Fair Value Method $ 198 $ 167 Equity Method: Atairos 1,601 — Hulu 225 184 Other 550 494 2,376 678 Cost Method: AirTouch 1,599 1,583 BuzzFeed 400 200 Other 771 702 2,770 2,485 Total investments 5,344 3,330 Less: Current investments 97 106 Noncurrent investments $ 5,247 $ 3,224 Investment Income (Loss), Net Year ended December 31 (in millions) 2016 2015 2014 Gains on sales and exchanges of investments, net $ 46 $ 12 $ 192 Investment impairment losses (34 ) (59 ) (50 ) Unrealized gains on securities underlying prepaid forward sale agreements — 42 66 Mark to market adjustments on derivative component of prepaid forward sale agreements and indexed debt instruments (4 ) (42 ) (56 ) Interest and dividend income 123 115 116 Other, net 82 13 28 Investment income (loss), net $ 213 $ 81 $ 296 Fair Value Method We classify publicly traded investments that are not accounted for under the equity method as available-for-sale (“AFS”) or trading securities and record them at fair value. For AFS securities, we record unrealized gains or losses resulting from changes in fair value between measurement dates as a component of other comprehensive income (loss), except when we consider declines in value to be other than temporary. For trading securities, we record unrealized gains or losses resulting from changes in fair value between measurement dates as a component of investment income (loss), net. We recognize realized gains and losses associated with our fair value method investments using the specific identification method. We classify the cash flows related to purchases of and proceeds from the sale of trading securities based on the nature of the securities and the purpose for which they were acquired. Equity Method We use the equity method to account for investments in which we have the ability to exercise significant influence over the investee’s operating and financial policies or in which we hold a significant partnership or LLC interest. Equity method investments are recorded at cost and are adjusted to recognize (1) our proportionate share of the investee’s net income or loss after the date of investment, (2) amortization of the recorded investment that exceeds our share of the book value of the investee’s net assets, (3) additional contributions made and dividends received, and (4) impairments resulting from other-than-temporary declines in fair value. For some investments, we record our share of the investee’s net income or loss one quarter in arrears due to the timing of our receipt of such information. Gains or losses on the sale of equity method investments are recorded to other income (expense), net. If an equity method investee were to issue additional securities that would change our proportionate share of the entity, we would recognize the change, if any, as a gain or loss in our consolidated statement of income. Atairos In 2015, we entered into an agreement to establish Atairos Group, Inc., a strategic company focused on investing in and operating companies in a range of industries and business sectors, both domestically and internationally. The agreement became effective as of January 1, 2016. Atairos has a term of up to 12 years and is controlled by management companies led by our former CFO through interests that carry all of the voting rights. We are the only investor other than our former CFO and the other management company employees. We have committed to fund Atairos up to $4 billion in the aggregate at any one time, subject to certain offsets, and $40 million annually for a management fee, subject to certain adjustments, while the management company investors have committed to fund up to $100 million , with at least $40 million to be funded by our former CFO, subject to his continued role with Atairos. Our economic interests do not carry voting rights and obligate us to absorb approximately 99% of any losses and they provide us the right to receive approximately 86.5% of any residual returns in Atairos, in either case on a cumulative basis. We have concluded that Atairos is a VIE, that we do not have the power to direct the activities that most significantly impact the economic performance of Atairos as we have no voting rights and only certain consent rights, and that we are not a related party with our former CFO or the management companies. We therefore do not consolidate Atairos and account for our investment as an equity method investment. There are no other liquidity arrangements, guarantees or other financial commitments between Comcast and Atairos, and therefore our maximum risk of financial loss is our investment balance and remaining unfunded capital commitment. In 2016, we made cash capital contributions totaling $1.2 billion to Atairos. In addition, we recorded capital contributions of $447 million that were accrued in 2016 and paid in January 2017. Hulu In August 2016, Time Warner Inc. acquired a 10% interest in Hulu, LLC, which diluted our interest in Hulu from 33% to 30% . For a period not to exceed 3 years , Time Warner may put its shares to Hulu or Hulu may call Time Warner’s shares under certain limited circumstances arising from regulatory review. Given the contingent nature of the put and call options, we recorded a deferred gain of $159 million and a corresponding increase to our investment in Hulu as a result of the dilution. The deferred gain will be recognized in other income (expense), net if and when the options expire unexercised. In 2016 , 2015 and 2014 , we recognized our proportionate share of losses of $168 million , $106 million and $20 million , respectively, related to our investment in Hulu. The Weather Channel In January 2016, following a legal restructuring at The Weather Channel, we and the other investors sold the entity holding The Weather Channel’s product and technology businesses to IBM. Following the close of the transaction, we continue to hold an investment in The Weather Channel cable network through a new holding company. As a result of the sale of our investment, we recognized a pretax gain of $108 million in other income (expense), net. In June and December 2015, The Weather Channel recorded impairment charges related to goodwill. In 2015, we recorded expenses of $333 million that represented NBCUniversal’s proportionate share of these impairment charges in equity in net income (losses) of investees, net in our consolidated statement of income. Cost Method We use the cost method to account for investments not accounted for under the fair value method or the equity method. AirTouch We hold two series of preferred stock of Verizon Americas, Inc., formerly known as AirTouch Communications, Inc., a subsidiary of Verizon Communications Inc., which are redeemable in April 2020. As of both December 31, 2016 and 2015 , the estimated fair value of the AirTouch preferred stock was $1.7 billion . The dividend and redemption activity of the AirTouch preferred stock determines the dividend and redemption payments associated with substantially all of the preferred shares issued by one of our consolidated subsidiaries, which is a VIE. The subsidiary has three series of preferred stock outstanding with an aggregate redemption value of $1.75 billion . Substantially all of the AirTouch preferred stock is redeemable in April 2020 at a redemption value of $1.65 billion . As of both December 31, 2016 and 2015 , the two series of redeemable subsidiary preferred shares were recorded at $1.6 billion , and those amounts are included in other noncurrent liabilities. As of both December 31, 2016 and 2015 , the liability related to the redeemable subsidiary preferred shares had an aggregate estimated fair value of $1.7 billion . The estimated fair values of the AirTouch preferred stock and redeemable subsidiary preferred shares 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. The one series of nonredeemable subsidiary preferred shares was recorded at $100 million as of both December 31, 2016 and 2015 , and those amounts are included in noncontrolling interests in our consolidated balance sheet. The carrying amount of the nonredeemable subsidiary preferred stock approximates its fair value. BuzzFeed and Vox Media In September 2015, NBCUniversal acquired an interest in BuzzFeed, Inc. and made an additional investment in Vox Media, Inc. for $200 million each in cash. In November 2016, NBCUniversal made an additional investment of $200 million in BuzzFeed. BuzzFeed is a global media company that produces and distributes original news, entertainment and videos. Vox Media is a digital media company comprised of eight distinct brands. Impairment Testing of Investments We review our investment portfolio each reporting period to determine whether there are identified events or circumstances that would indicate there is a decline in the fair value that would be considered other than temporary. For our nonpublic investments, if there are no identified events or circumstances that would have a significant adverse effect on the fair value of the investment, then the fair value is not estimated. If an investment is deemed to have experienced an other-than-temporary decline below its cost basis, we reduce the carrying amount of the investment to its quoted or estimated fair value, as applicable, and establish a new cost basis for the investment. For our AFS securities and our cost method investments, we record the impairment to investment income (loss), net. For our equity method investments, we record the impairment to other income (expense), net. |
NBCUniversal Media LLC [Member] | |
Fair Value, Equity And Cost Method Investments [Line Items] | |
Investments | Note 7: Investments December 31 (in millions) 2016 2015 Fair Value Method $ 6 $ 10 Equity Method: Hulu 225 184 Other 336 313 561 497 Cost Method: BuzzFeed 400 200 Other 296 258 696 458 Total investments $ 1,263 $ 965 Equity Method We use the equity method to account for investments in which we have the ability to exercise significant influence over the investee’s operating and financial policies or in which we hold a significant partnership or LLC interest. Equity method investments are recorded at cost and are adjusted to recognize (1) our proportionate share of the investee’s net income or loss after the date of investment, (2) amortization of the recorded investment that exceeds our share of the book value of the investee’s net assets, (3) additional contributions made and dividends received, and (4) impairments resulting from other-than-temporary declines in fair value. For some investments, we record our share of the investee’s net income or loss one quarter in arrears due to the timing of our receipt of such information. Gains or losses on the sale of equity method investments are recorded to other income (expense), net. If an equity method investee were to issue additional securities that would change our proportionate share of the entity, we would recognize the change, if any, as a gain or loss in our consolidated statement of income. Hulu In August 2016, Time Warner Inc. acquired a 10% interest in Hulu, LLC, which diluted our interest in Hulu from 33% to 30% . For a period not to exceed 3 years , Time Warner may put its shares to Hulu or Hulu may call Time Warner’s shares under certain limited circumstances arising from regulatory review. Given the contingent nature of the put and call options, we recorded a deferred gain of $159 million and a corresponding increase to our investment in Hulu as a result of the dilution. The deferred gain will be recognized in other income (expense), net if and when the options expire unexercised. In 2016 , 2015 and 2014 , we recognized our proportionate share of losses of $168 million , $106 million and $20 million , respectively, related to our investment in Hulu. The Weather Channel In January 2016, following a legal restructuring at The Weather Channel, we and the other investors sold the entity holding The Weather Channel’s product and technology businesses to IBM. Following the close of the transaction, we continue to hold an investment in The Weather Channel cable network through a new holding company. As a result of the sale of our investment, we recognized a pretax gain of $108 million in other income (expense), net. In June and December 2015, The Weather Channel recorded impairment charges related to goodwill. In 2015, we recorded expenses of $333 million that represented NBCUniversal’s proportionate share of these impairment charges in equity in net income (losses) of investees, net in our consolidated statement of income. Summarized Financial Information The tables below present the summarized combined financial information of our equity method investments. December 31 (in millions) 2016 2015 Current assets $ 2,105 $ 1,904 Noncurrent assets $ 2,724 $ 3,584 Current liabilities $ 1,921 $ 1,225 Noncurrent liabilities $ 2,853 $ 4,879 Year ended December 31 (in millions) 2016 2015 2014 Revenue $ 4,285 $ 3,944 $ 3,756 Operating income (loss) $ (182 ) $ (1,609 ) $ 483 Net income (loss) $ (313 ) $ (1,820 ) $ 243 Cost Method We use the cost method to account for investments not accounted for under the fair value method or the equity method. In September 2015, we acquired an interest in BuzzFeed, Inc. and made an additional investment in Vox Media, Inc. for $200 million each in cash. In November 2016, NBCUniversal made an additional investment of $200 million in BuzzFeed. BuzzFeed is a global media company that produces and distributes original news, entertainment and videos. Vox Media is a digital media company comprised of eight distinct brands. Impairment Testing of Investments We review our investment portfolio each reporting period to determine whether there are identified events or circumstances that would indicate there is a decline in the fair value that would be considered other than temporary. For our nonpublic investments, if there are no identified events or circumstances that would have a significant adverse effect on the fair value of the investment, then the fair value is not estimated. If an investment is deemed to have experienced an other-than-temporary decline below its cost basis, we reduce the carrying amount of the investment to its quoted or estimated fair value, as applicable, and establish a new cost basis for the investment. For our available-for-sale securities and our cost method investments, we record the impairment to investment income (loss), net. For our equity method investments, we record the impairment to other income (expense), net. |
Property and Equipment
Property and Equipment | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Line Items] | |
Property and Equipment | Note 8: Property and Equipment December 31 (in millions) Weighted-Average 2016 2015 Cable distribution system 11 years $ 34,028 $ 32,586 Customer premise equipment 6 years 28,621 28,559 Other equipment 8 years 9,475 8,539 Buildings and leasehold improvements 29 years 12,550 10,829 Land N/A 1,273 1,252 Property and equipment, at cost 85,947 81,765 Less: Accumulated depreciation 49,694 48,100 Property and equipment, net $ 36,253 $ 33,665 Property and equipment are stated at cost. We capitalize improvements that extend asset lives and expense repairs and maintenance costs as incurred. We record depreciation using the straight-line method over the asset’s estimated useful life. For assets that are sold or retired, we remove the applicable cost and accumulated depreciation and, unless the gain or loss on disposition is presented separately, we recognize it as a component of depreciation expense. In accordance with the accounting guidance related to cable television companies, we capitalize the costs associated with the construction of and improvements to our cable transmission and distribution facilities, including scalable infrastructure and line extensions; costs associated with acquiring and deploying new customer premise equipment; and costs associated with installation of our services. Costs capitalized include all direct costs for labor and materials, as well as various indirect costs. Costs incurred in connection with subsequent disconnects and reconnects are expensed as they are incurred. We evaluate the recoverability of our property and equipment whenever events or substantive changes in circumstances indicate that the carrying amount may not be recoverable. The evaluation is based on the cash flows generated by the underlying asset groups, including estimated future operating results, trends or other determinants of fair value. If the total of the expected future undiscounted cash flows were less than the carrying amount of the asset group, we would recognize an impairment charge to the extent the carrying amount of the asset group exceeded its estimated fair value. Unless presented separately, the impairment charge is included as a component of depreciation expense. |
NBCUniversal Media LLC [Member] | |
Property, Plant and Equipment [Line Items] | |
Property and Equipment | Note 8: Property and Equipment December 31 (in millions) Weighted-Average 2016 2015 Buildings and leasehold improvements 30 years $ 7,543 $ 6,543 Furniture, fixtures and equipment 11 years 4,158 3,457 Construction in process N/A 1,176 1,339 Land N/A 984 961 Property and equipment, at cost 13,861 12,300 Less: Accumulated depreciation 3,350 2,779 Property and equipment, net $ 10,511 $ 9,521 Property and equipment are stated at cost. We capitalize improvements that extend asset lives and expense repairs and maintenance costs as incurred. We record depreciation using the straight-line method over the asset’s estimated useful life. For assets that are sold or retired, we remove the applicable cost and accumulated depreciation and, unless the gain or loss on disposition is presented separately, we recognize it as a component of depreciation expense. We evaluate the recoverability of our property and equipment whenever events or substantive changes in circumstances indicate that the carrying amount may not be recoverable. The evaluation is based on the cash flows generated by the underlying asset groups, including estimated future operating results, trends or other determinants of fair value. If the total of the expected future undiscounted cash flows were less than the carrying amount of the asset group, we would recognize an impairment charge to the extent the carrying amount of the asset group exceeded its estimated fair value. Unless presented separately, the impairment charge is included as a component of depreciation expense. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill And Intangible Assets [Line Items] | |
Goodwill and Intangible Assets | Note 9: Goodwill and Intangible Assets Goodwill NBCUniversal (in millions) Cable Cable Broadcast Filmed Theme Corporate Total Balance, December 31, 2014 $ 12,217 $ 12,948 $ 767 $ 211 $ 982 $ 191 $ 27,316 Acquisitions (a) 173 17 39 58 5,373 1 5,661 Adjustments (1 ) — — — — — (1 ) Foreign currency translation — (18 ) — (2 ) (11 ) — (31 ) Balance, December 31, 2015 12,389 12,947 806 267 6,344 192 32,945 Acquisitions (b) 82 232 — 2,717 — 1 3,032 Adjustments (c) 174 — — — (250 ) (181 ) (257 ) Foreign currency translation — 4 — 9 247 — 260 Balance, December 31, 2016 $ 12,645 $ 13,183 $ 806 $ 2,993 $ 6,341 $ 12 $ 35,980 (a) Acquisitions in 2015 in our Theme Parks segment included the Universal Studios Japan transaction (see Note 5 for additional information). (b) Acquisitions in 2016 in our Filmed Entertainment segment primarily included the DreamWorks Animation acquisition (see Note 5 for additional information). (c) Adjustments in 2016 primarily included the updated allocation of the purchase price for Universal Studios Japan in our Theme Parks segment (see Note 5 for additional information) and the reclassification of certain operations and businesses from Corporate and Other to our Cable Communications segment. Goodwill is calculated as the excess of the consideration transferred over the identifiable net assets acquired in a business combination and represents the future economic benefits expected to arise from anticipated synergies and intangible assets acquired that do not qualify for separate recognition, including assembled workforce, noncontractual relationships and other agreements. We assess the recoverability of our goodwill annually, or more frequently whenever events or substantive changes in circumstances indicate that the carrying amount of a reporting unit may exceed its fair value. We test goodwill for impairment at the reporting unit level. To determine our reporting units, we evaluate the components one level below the segment level and we aggregate the components if they have similar economic characteristics. As a result of this assessment, our reporting units are the same as our five reportable segments. We evaluate the determination of our reporting units used to test for impairment periodically or whenever events or substantive changes in circumstances occur. The assessment of recoverability may first consider qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. A quantitative assessment is performed if the qualitative assessment results in a more-likely-than-not determination or if a qualitative assessment is not performed. The quantitative assessment considers whether the carrying amount of a reporting unit exceeds its fair value, in which case an impairment charge is recorded to the extent the carrying amount of the reporting unit’s goodwill exceeds its implied fair value. Unless presented separately, the impairment charge is included as a component of amortization expense. We did not recognize any impairment charges in any of the periods presented. Intangible Assets 2016 2015 December 31 (in millions) Weighted-Average Original Useful Life as of December 31, 2016 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Indefinite-Lived Intangible Assets: Franchise rights N/A $ 59,364 $ 59,364 Trade names N/A 2,981 2,857 FCC licenses N/A 651 651 Finite-Lived Intangible Assets: Customer relationships 19 years 13,478 $ (5,110 ) 13,396 $ (4,442 ) Software 4 years 7,017 (3,997 ) 6,008 (3,429 ) Cable franchise renewal costs and contractual operating rights 9 years 1,460 (800 ) 1,499 (849 ) Patents and other technology rights 7 years 257 (208 ) 409 (350 ) Other agreements and rights 15 years 2,443 (898 ) 1,994 (798 ) Total $ 87,651 $ (11,013 ) $ 86,178 $ (9,868 ) Indefinite-Lived Intangible Assets Indefinite-lived intangible assets consist primarily of our cable franchise rights. Our cable franchise rights represent the values we attributed to agreements with state and local authorities that allow access to homes and businesses in cable service areas acquired in business combinations. We do not amortize our cable franchise rights because we have determined that they meet the definition of indefinite-lived intangible assets since there are no legal, regulatory, contractual, competitive, economic or other factors which limit the period over which these rights will contribute to our cash flows. We reassess this determination periodically or whenever events or substantive changes in circumstances occur. Costs we incur in negotiating and renewing cable franchise agreements are included in other intangible assets and are generally amortized on a straight-line basis over the term of the franchise agreement. We assess the recoverability of our cable franchise rights and other indefinite-lived intangible assets annually, or more frequently whenever events or substantive changes in circumstances indicate that the assets might be impaired. Our three Cable Communications divisions represent the unit of account we use to test for impairment of our cable franchise rights. We evaluate the unit of account used to test for impairment of our cable franchise rights and other indefinite-lived intangible assets periodically or whenever events or substantive changes in circumstances occur to ensure impairment testing is performed at an appropriate level. The assessment of recoverability may first consider qualitative factors to determine whether it is more likely than not that the fair value of an indefinite-lived intangible asset is less than its carrying amount. A quantitative assessment is performed if the qualitative assessment results in a more-likely-than-not determination or if a qualitative assessment is not performed. When performing a quantitative assessment, we estimate the fair value of our cable franchise rights and other indefinite-lived intangible assets primarily based on a discounted cash flow analysis that involves significant judgment. When analyzing the fair values indicated under the discounted cash flow models, we also consider multiples of operating income before depreciation and amortization generated by the underlying assets, current market transactions, and profitability information. If the fair value of our cable franchise rights or other indefinite-lived intangible assets was less than the carrying amount, we would recognize an impairment charge for the difference between the estimated fair value and the carrying value of the assets. Unless presented separately, the impairment charge is included as a component of amortization expense. We did not recognize any material impairment charges in any of the periods presented. Finite-Lived Intangible Assets Estimated Amortization Expense of Finite-Lived Intangible Assets (in millions) 2017 $ 2,077 2018 $ 1,828 2019 $ 1,475 2020 $ 1,168 2021 $ 939 Finite-lived intangible assets are subject to amortization and consist primarily of customer relationships acquired in business combinations, software, cable franchise renewal costs, contractual operating rights and intellectual property rights. Our finite-lived intangible assets are amortized primarily on a straight-line basis over their estimated useful life or the term of the associated agreement. We capitalize direct development costs associated with internal-use software, including external direct costs of material and services and payroll costs for employees devoting time to these software projects. We also capitalize costs associated with the purchase of software licenses. We include these costs in other intangible assets and generally amortize them on a straight-line basis over a period not to exceed five years . We expense maintenance and training costs, as well as costs incurred during the preliminary stage of a project, as they are incurred. We capitalize initial operating system software costs and amortize them over the life of the associated hardware. We evaluate the recoverability of our finite-lived intangible assets whenever events or substantive changes in circumstances indicate that the carrying amount may not be recoverable. The evaluation is based on the cash flows generated by the underlying asset groups, including estimated future operating results, trends or other determinants of fair value. If the total of the expected future undiscounted cash flows were less than the carrying amount of the asset group, we would recognize an impairment charge to the extent the carrying amount of the asset group exceeded its estimated fair value. Unless presented separately, the impairment charge is included as a component of amortization expense. |
NBCUniversal Media LLC [Member] | |
Goodwill And Intangible Assets [Line Items] | |
Goodwill and Intangible Assets | Note 9: Goodwill and Intangible Assets Goodwill (in millions) Cable Broadcast Filmed Theme Total Balance, December 31, 2014 $ 12,948 $ 767 $ 211 $ 982 $ 14,908 Acquisitions (a) 17 39 58 5,373 5,487 Foreign currency translation (18 ) — (2 ) (11 ) (31 ) Balance, December 31, 2015 12,947 806 267 6,344 20,364 Acquisitions (b) 232 — 2,717 — 2,949 Adjustments (c) — — — (250 ) (250 ) Foreign currency translation 4 — 9 247 260 Balance, December 31, 2016 $ 13,183 $ 806 $ 2,993 $ 6,341 $ 23,323 (a) Acquisitions in 2015 in our Theme Parks segment included the Universal Studios Japan transaction (see Note 4 for additional information). (b) Acquisitions in 2016 in our Filmed Entertainment segment primarily included the DreamWorks Animation acquisition (see Note 4 for additional information). (c) Adjustments in 2016 included the updated allocation of the purchase price for Universal Studios Japan in our Theme Parks segment (see Note 4 for additional information). Goodwill is calculated as the excess of the consideration transferred over the identifiable net assets acquired in a business combination and represents the future economic benefits expected to arise from anticipated synergies and intangible assets acquired that do not qualify for separate recognition, including assembled workforce, noncontractual relationships and other agreements. We assess the recoverability of our goodwill annually, or more frequently whenever events or substantive changes in circumstances indicate that the carrying amount of a reporting unit may exceed its fair value. We test goodwill for impairment at the reporting unit level. To determine our reporting units, we evaluate the components one level below the segment level and we aggregate the components if they have similar economic characteristics. As a result of this assessment, our reporting units are the same as our four reportable segments. We evaluate the determination of our reporting units used to test for impairment periodically or whenever events or substantive changes in circumstances occur. The assessment of recoverability may first consider qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. A quantitative assessment is performed if the qualitative assessment results in a more-likely-than-not determination or if a qualitative assessment is not performed. The quantitative assessment considers whether the carrying amount of a reporting unit exceeds its fair value, in which case an impairment charge is recorded to the extent the carrying amount of the reporting unit’s goodwill exceeds its implied fair value. Unless presented separately, the impairment charge is included as a component of amortization expense. We did not recognize any impairment charges in any of the periods presented. Intangible Assets 2016 2015 December 31 (in millions) Weighted-Average Gross Accumulated Gross Accumulated Finite-Lived Intangible Assets: Customer relationships 19 years $ 13,173 $ (4,952 ) $ 13,107 $ (4,291 ) Software 5 years 1,195 (563 ) 849 (431 ) Other 15 years 2,345 (1,053 ) 1,996 (932 ) Indefinite-Lived Intangible Assets: Trade names N/A 2,981 2,857 FCC licenses N/A 651 651 Total $ 20,345 $ (6,568 ) $ 19,460 $ (5,654 ) Indefinite-Lived Intangible Assets Indefinite-lived intangible assets consist of trade names and FCC licenses. We assess the recoverability of our indefinite-lived intangible assets annually, or more frequently whenever events or substantive changes in circumstances indicate that the assets might be impaired. We evaluate the unit of account used to test for impairment of our indefinite-lived intangible assets periodically or whenever events or substantive changes in circumstances occur to ensure impairment testing is performed at an appropriate level. The assessment of recoverability may first consider qualitative factors to determine whether it is more likely than not that the fair value of an indefinite-lived intangible asset is less than its carrying amount. A quantitative assessment is performed if the qualitative assessment results in a more-likely-than-not determination or if a qualitative assessment is not performed. When performing a quantitative assessment, we estimate the fair value of our indefinite-lived intangible assets primarily based on a discounted cash flow analysis that involves significant judgment. When analyzing the fair values indicated under the discounted cash flow models, we also consider multiples of operating income before depreciation and amortization generated by the underlying assets, current market transactions, and profitability information. If the fair value of our indefinite-lived intangible assets was less than the carrying amount, we would recognize an impairment charge for the difference between the estimated fair value and the carrying value of the assets. Unless presented separately, the impairment charge is included as a component of amortization expense. We did not recognize any material impairment charges in any of the periods presented. Finite-Lived Intangible Assets Estimated Amortization Expense of Finite-Lived Intangible Assets (in millions) 2017 $ 946 2018 $ 929 2019 $ 900 2020 $ 873 2021 $ 804 Finite-lived intangible assets are subject to amortization and consist primarily of customer relationships acquired in business combinations, intellectual property rights and software. Our finite-lived intangible assets are amortized primarily on a straight-line basis over their estimated useful life or the term of the associated agreement. We capitalize direct development costs associated with internal-use software, including external direct costs of material and services and payroll costs for employees devoting time to these software projects. We also capitalize costs associated with the purchase of software licenses. We include these costs in intangible assets and generally amortize them on a straight-line basis over a period not to exceed five years . We expense maintenance and training costs, as well as costs incurred during the preliminary stage of a project, as they are incurred. We capitalize initial operating system software costs and amortize them over the life of the associated hardware. We evaluate the recoverability of our finite-lived intangible assets whenever events or substantive changes in circumstances indicate that the carrying amount may not be recoverable. The evaluation is based on the cash flows generated by the underlying asset groups, including estimated future operating results, trends or other determinants of fair value. If the total of the expected future undiscounted cash flows were less than the carrying amount of the asset group, we would recognize an impairment charge to the extent the carrying amount of the asset group exceeded its estimated fair value. Unless presented separately, the impairment charge is included as a component of amortization expense. |
Long-Term Debt
Long-Term Debt | 12 Months Ended |
Dec. 31, 2016 | |
Debt Instrument [Line Items] | |
Long-Term Debt | Note 10: Long-Term Debt Long-Term Debt Outstanding December 31 (in millions) Weighted-Average Interest Rate as of December 31, 2016 2016 2015 Commercial paper 1.01 % $ 2,781 $ 975 Revolving bank credit facilities — % — — Term loans (a) 2.93 % 3,262 3,259 Senior notes with maturities of 5 years or less, at face value 4.68 % 13,850 14,300 Senior notes with maturities between 5 and 10 years, at face value 3.86 % 12,049 9,630 Senior notes with maturities greater than 10 years, at face value (b) 5.19 % 28,587 23,925 Other, including capital lease obligations — 842 794 Debt issuance costs, premiums, discounts and fair value adjustments for hedged positions, net — (325 ) (262 ) Total debt 4.50 % (c) 61,046 52,621 Less: Current portion 5,480 3,627 Long-term debt $ 55,566 $ 48,994 (a) The December 31, 2016 and 2015 amounts consist of ¥382 billion and ¥400 billion , respectively, of Universal Studios Japan term loans translated using the exchange rates as of these dates. (b) The December 31, 2016 and 2015 amounts include £625 million of 5.50% notes due 2029, which translated to $771 million and $921 million , respectively, using the exchange rates as of these dates. (c) Includes the effects of our derivative financial instruments. As of December 31, 2016 and 2015 , our debt had an estimated fair value of $66.3 billion and $58.0 billion , respectively. 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. See Note 19 for additional information on our cross-guarantee structure. Principal Maturities of Debt (in millions) Weighted-Average 2017 4.22 % $ 5,483 2018 4.05 % $ 4,203 2019 3.11 % $ 2,466 2020 4.18 % $ 6,217 2021 4.36 % $ 2,043 Thereafter 4.82 % $ 40,959 2016 Debt Borrowings Year ended December 31, 2016 (in millions) Comcast 3.15% senior notes due 2026 $ 2,200 Comcast 4.05% senior notes due 2046 1,430 Comcast 2.35% senior notes due 2027 1,400 Comcast 3.40% senior notes due 2046 1,400 Comcast 2.75% senior notes due 2023 1,100 Comcast 3.20% senior notes due 2036 1,000 Comcast 1.625% senior notes due 2022 700 Other 1 Total $ 9,231 2016 Debt Redemptions and Repayments Year ended December 31, 2016 (in millions) NBCUniversal 2.875% senior notes due 2016 $ 1,000 Comcast 4.95% senior notes due 2016 750 NBCUniversal Enterprise senior notes due 2016 700 DreamWorks Animation assumed debt (see Note 5) 381 Other 221 Total $ 3,052 Debt Instruments Revolving Bank Credit Facilities In May 2016, we entered into a new $7 billion revolving credit facility due 2021 with a syndicate of banks (“Comcast revolving credit facility”) that may be used for general corporate purposes. We may increase the commitment under the Comcast revolving credit facility up to a total of $10 billion , as well as extend the expiration date to a date no later than 2023, subject to approval of the lenders. In addition, NBCUniversal Enterprise entered into a new $1.5 billion revolving credit facility due 2021 with a syndicate of banks (“NBCUniversal Enterprise revolving credit facility”) that may be used for general corporate purposes. We may increase the commitment under the NBCUniversal Enterprise revolving credit facility up to a total of $2 billion , as well as extend the expiration date to a date no later than 2023, subject to approval of the lenders. The new revolving credit facilities replaced Comcast’s $6.25 billion and NBCUniversal Enterprise’s $1.35 billion revolving credit facilities, which were terminated in connection with the execution of the new revolving credit facilities. The interest rates on the new revolving credit facilities consist of a base rate plus a borrowing margin that is determined based on Comcast’s credit rating. As of December 31, 2016 , the borrowing margin for borrowings based on the London Interbank Offered Rate was 1.00% . Similar to the Comcast and NBCUniversal Enterprise prior revolving credit facilities, each of the new revolving credit facilities require that we maintain certain financial ratios based on their respective debt and operating income before depreciation and amortization, as defined in the credit facility. We were in compliance with all financial covenants for all periods presented. As of December 31, 2016 , amounts available under our consolidated credit facilities, net of amounts outstanding under our commercial paper programs and outstanding letters of credit, totaled $5.5 billion , which included $460 million available under the NBCUniversal Enterprise revolving credit facility. Commercial Paper Programs Our commercial paper programs provide a lower-cost source of borrowing to fund our short-term working capital requirements. The maximum borrowing capacity under the Comcast commercial paper program is $6.25 billion . We support this commercial paper program with unused capacity under the Comcast revolving credit facility. The maximum borrowing capacity under the NBCUniversal Enterprise commercial paper program is $1.35 billion . We support this commercial paper program with unused capacity under the NBCUniversal Enterprise revolving credit facility. Term Loans Our term loans consist of the Universal Studios Japan term loans, which have a final maturity of November 2020 . These term loans contain financial and operating covenants and are secured by the assets of Universal Studios Japan and the equity interests of the other investors. We do not guarantee these term loans and they are otherwise nonrecourse to us. Letters of Credit As of December 31, 2016 , we and certain of our subsidiaries had unused irrevocable standby letters of credit totaling $443 million to cover potential fundings under various agreements. |
NBCUniversal Media LLC [Member] | |
Debt Instrument [Line Items] | |
Long-Term Debt | Note 10: Long-Term Debt Long-Term Debt Outstanding December 31 (in millions) Weighted-Average Interest Rate as of December 31, 2016 2016 2015 Term loans (a) 2.93 % $ 3,262 $ 3,259 Senior notes with maturities of 5 years or less, at face value 4.76 % 4,000 3,000 Senior notes with maturities between 5 and 10 years, at face value 2.88 % 1,000 3,000 Senior notes with maturities greater than 10 years, at face value 5.62 % 3,200 3,200 Other, including capital lease obligations — 138 47 Debt issuance costs, premiums, discounts and fair value adjustments for hedged positions, net — (12 ) (12 ) Total debt 4.38 % (b) 11,588 12,494 Less: Current portion 127 1,163 Long-term debt $ 11,461 $ 11,331 (a) The December 31, 2016 and 2015 amounts consist of ¥382 billion and ¥400 billion , respectively, of Universal Studios Japan term loans translated using the exchange rates as of these dates. (b) Includes the effects of our derivative financial instruments. As of December 31, 2016 and 2015 , our debt, excluding the note payable to Comcast, had an estimated fair value of $12.6 billion and $13.4 billion , respectively. 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. Principal Maturities of Debt (in millions) Weighted-Average 2017 2.94 % $ 127 2018 3.15 % $ 148 2019 2.74 % $ 247 2020 3.90 % $ 4,797 2021 4.40 % $ 2,008 Thereafter 5.04 % $ 4,273 Term Loans Our term loans consist of the Universal Studios Japan term loans, which have a final maturity of November 2020 . These term loans contain financial and operating covenants and are secured by the assets of Universal Studios Japan and the equity interests of the other investors. We do not guarantee these term loans and they are otherwise nonrecourse to us. Debt Repayments Following Comcast’s acquisition of DreamWorks Animation, we paid $381 million to settle all of the debt we assumed in the DreamWorks Animation acquisition. In April 2016, we repaid at maturity $1 billion aggregate principal amount of 2.875% senior notes due 2016 . Cross-Guarantee Structure We, Comcast and a 100% owned cable holding company subsidiary of Comcast (“CCCL Parent”) fully and unconditionally guarantee each other’s debt securities, including the $7 billion Comcast revolving credit facility due 2021. As of December 31, 2016 , outstanding debt securities of $44.7 billion of Comcast and CCCL Parent were subject to the guarantee structure. We do not, however, guarantee the obligations of NBCUniversal Enterprise with respect to its $3.3 billion aggregate principal amount of senior notes, $1.5 billion revolving credit facility, commercial paper program, or $725 million liquidation preference of Series A cumulative preferred stock. |
Postretirement, Pension and Oth
Postretirement, Pension and Other Employee Benefit Plans | 12 Months Ended |
Dec. 31, 2016 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Postretirement, Pension and Other Employee Benefit Plans | Note 11: Postretirement, Pension and Other Employee Benefit Plans Postretirement Benefit Plans Year ended December 31 (in millions) 2016 2015 2014 Benefit obligation $ 538 $ 820 $ 837 Plan funded status and recorded benefit obligation $ (538 ) $ (820 ) $ (837 ) Portion of benefit obligation not yet recognized in benefits expense $ (372 ) $ (33 ) $ 46 Benefits expense $ 70 $ 75 $ 59 Discount rate 4.07-4.56% 4.70-4.73% 4.25 % We sponsor various benefit plans that provide postretirement benefits to eligible employees based on years of service. The Comcast Postretirement Healthcare Stipend Program (the “stipend plan”) provides an annual stipend for reimbursement of healthcare costs to each eligible employee based on years of service. Under the stipend plan, we are not exposed to the increasing costs of healthcare because the benefits are fixed at a predetermined amount. In December 2016, the stipend plan was amended primarily to reduce the benefits of active employees who retire after December 31, 2017. The plan amendments reduced our benefit obligation in 2016 by $361 million . NBCUniversal’s postretirement medical and life insurance plans provide continuous coverage to employees eligible to receive such benefits. A small number of eligible employees also participate in legacy plans of acquired companies. All of our postretirement benefit plans are unfunded and substantially all of our postretirement benefit obligations are recorded to noncurrent liabilities. The expense we recognize for our postretirement benefit plans is determined using certain assumptions, including the discount rate. Pension Plans NBCUniversal sponsors various qualified and nonqualified defined benefit pension plans for domestic employees. Since the future benefits have been frozen since the beginning of 2013, we did not recognize service costs related to the pension plans for all periods presented. The benefits expense we recognized for our defined benefit plans was not material for all periods presented. In addition to the defined benefit plans it sponsors, NBCUniversal is also obligated to reimburse General Electric (“GE”) for future benefit payments to those participants who were vested in the supplemental pension plan sponsored by GE at the time of the NBCUniversal transaction in 2011. These pension plans are currently unfunded and we recorded a benefit obligation of $314 million and $309 million as of December 31, 2016 and 2015 , respectively, which consists primarily of our obligations to reimburse GE. Other Employee Benefits Deferred Compensation Plans We maintain unfunded, nonqualified deferred compensation plans for certain members of management and nonemployee directors (each, a “participant”). The amount of compensation deferred by each participant is based on participant elections. Participant accounts, except for those in the NBCUniversal plan, are credited with income primarily based on a fixed annual rate. Participants in the NBCUniversal plan designate one or more valuation funds, independently established funds or indices that are used to determine the amount of investment gain or loss in the participant’s account. Participants are eligible to receive distributions from their account based on elected deferral periods that are consistent with the plans and applicable tax law. The table below presents the benefit obligation and interest expense for our deferred compensation plans. Year ended December 31 (in millions) 2016 2015 2014 Benefit obligation $ 2,164 $ 2,038 $ 1,774 Interest expense $ 178 $ 171 $ 149 We have purchased life insurance policies to recover a portion of the future payments related to our deferred compensation plans. As of December 31, 2016 and 2015 , the cash surrender value of these policies, which is recorded to other noncurrent assets, was $709 million and $658 million , respectively. Retirement Investment Plans We sponsor several 401(k) defined contribution retirement plans that allow eligible employees to contribute a portion of their compensation through payroll deductions in accordance with specified plan guidelines. We make contributions to the plans that include matching a percentage of the employees’ contributions up to certain limits. In 2016 , 2015 and 2014 , expenses related to these plans totaled $446 million , $416 million and $379 million , respectively. Multiemployer Benefit Plans We participate in various multiemployer benefit plans, including pension and postretirement benefit plans, that cover some of our employees and temporary employees who are represented by labor unions. We also participate in other multiemployer benefit plans that provide health and welfare and retirement savings benefits to active and retired participants. We make periodic contributions to these plans in accordance with the terms of applicable collective bargaining agreements and laws but do not sponsor or administer these plans. We do not participate in any multiemployer benefit plans for which we consider our contributions to be individually significant, and the largest plans in which we participate are funded at a level of 80% or greater. In 2016 , 2015 and 2014 , the total contributions we made to multiemployer pension plans were $84 million , $77 million and $58 million , respectively. In 2016 , 2015 and 2014 , the total contributions we made to multiemployer postretirement and other benefit plans were $136 million , $119 million and $125 million , respectively. If we cease to be obligated to make contributions or were to otherwise withdraw from participation in any of these plans, applicable law would require us to fund our allocable share of the unfunded vested benefits, which is known as a withdrawal liability. In addition, actions taken by other participating employers may lead to adverse changes in the financial condition of one of these plans, which could result in an increase in our withdrawal liability. Severance Benefits We provide severance benefits to certain former employees. A liability is recorded when payment is probable, the amount is reasonably estimable, and the obligation relates to rights that have vested or accumulated. In 2016 , 2015 and 2014 , we recorded severance costs of $315 million , $181 million and $152 million , respectively. Severance costs in 2016 included $61 million of severance costs associated with the acquisition of DreamWorks Animation. |
NBCUniversal Media LLC [Member] | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Postretirement, Pension and Other Employee Benefit Plans | Note 11: Postretirement, Pension and Other Employee Benefit Plans Postretirement Benefit Plans Year ended December 31 (in millions) 2016 2015 2014 Benefit obligation $ 192 $ 197 $ 209 Plan funded status and recorded benefit obligation $ (192 ) $ (197 ) $ (209 ) Portion of benefit obligation not yet recognized in benefits expense $ (42 ) $ (27 ) $ (3 ) Benefits expense $ 13 $ 15 $ 12 Discount rate 4.56 % 4.73 % 4.25 % We have postretirement medical and life insurance plans that provide continuous coverage to employees eligible to receive such benefits and give credit for length of service provided before Comcast’s acquisition of a controlling interest in NBCUniversal Holdings in 2011 (the “joint venture transaction”). Substantially all of the employees that were contributed by Comcast as part of the joint venture transaction participate in a postretirement healthcare stipend program (the “stipend plan”). The stipend plan provides an annual stipend for reimbursement of healthcare costs to each eligible employee based on years of service. Under the stipend plan, we are not exposed to the increasing costs of healthcare because the benefits are fixed at a predetermined amount. All of our postretirement benefit plans are unfunded and substantially all of our postretirement benefit obligations are recorded to noncurrent liabilities. The expense we recognize for our postretirement benefit plans is determined using certain assumptions, including the discount rate. Pension Plans We sponsor various qualified and nonqualified defined benefit pension plans for domestic employees. Since the future benefits have been frozen since the beginning of 2013, we did not recognize service costs related to our pension plans for all periods presented. The benefits expense we recognized for our defined benefit plans was not material for all periods presented. In addition to the defined benefit plans we sponsor, we are also obligated to reimburse General Electric (“GE”) for future benefit payments to those participants who were vested in the supplemental pension plan sponsored by GE at the time of the joint venture transaction. These pension plans are currently unfunded and we recorded a benefit obligation of $314 million and $309 million as of December 31, 2016 and 2015 , respectively, which consists primarily of our obligations to reimburse GE. Our consolidated balance sheet also includes the assets and liabilities of certain legacy pension plans, as well as the assets and liabilities for pension plans of certain foreign subsidiaries. As of December 31, 2016 and 2015 , the benefit obligations associated with these plans exceeded the fair value of the plan assets by $62 million and $67 million , respectively. Other Employee Benefits Deferred Compensation Plans We maintain unfunded, nonqualified deferred compensation plans for certain members of management (each, a “participant”). The amount of compensation deferred by each participant is based on participant elections. Participants in the plan designate one or more valuation funds, independently established funds or indices that are used to determine the amount of investment gain or loss in the participant’s account. Additionally, certain members of management participate in Comcast’s unfunded, nonqualified deferred compensation plan. The amount of compensation deferred by each participant is based on participant elections. Participant accounts are credited with income primarily based on a fixed annual rate. In the case of both deferred compensation plans, participants are eligible to receive distributions from their account based on elected deferral periods that are consistent with the plans and applicable tax law. The table below presents the benefit obligation and interest expense for our deferred compensation plans. Year ended December 31 (in millions) 2016 2015 2014 Benefit obligation $ 494 $ 417 $ 349 Interest expense $ 48 $ 28 $ 24 Retirement Investment Plans We sponsor several 401(k) defined contribution retirement plans that allow eligible employees to contribute a portion of their compensation through payroll deductions in accordance with specified plan guidelines. We make contributions to the plans that include matching a percentage of the employees’ contributions up to certain limits. In 2016 , 2015 and 2014 , expenses related to these plans totaled $185 million , $174 million and $165 million , respectively. Multiemployer Benefit Plans We participate in various multiemployer benefit plans, including pension and postretirement benefit plans, that cover some of our employees and temporary employees who are represented by labor unions. We also participate in other multiemployer benefit plans that provide health and welfare and retirement savings benefits to active and retired participants. We make periodic contributions to these plans in accordance with the terms of applicable collective bargaining agreements and laws but do not sponsor or administer these plans. We do not participate in any multiemployer benefit plans for which we consider our contributions to be individually significant, and the largest plans in which we participate are funded at a level of 80% or greater. In 2016 , 2015 and 2014 , the total contributions we made to multiemployer pension plans were $84 million , $77 million and $58 million , respectively. In 2016 , 2015 and 2014 , the total contributions we made to multiemployer postretirement and other benefit plans were $136 million , $119 million and $125 million , respectively. If we cease to be obligated to make contributions or were to otherwise withdraw from participation in any of these plans, applicable law would require us to fund our allocable share of the unfunded vested benefits, which is known as a withdrawal liability. In addition, actions taken by other participating employers may lead to adverse changes in the financial condition of one of these plans, which could result in an increase in our withdrawal liability. Severance Benefits We provide severance benefits to certain former employees. A liability is recorded when payment is probable, the amount is reasonably estimable, and the obligation relates to rights that have vested or accumulated. In 2016 , 2015 and 2014 , we recorded severance costs of $165 million , $113 million and $113 million , respectively. Severance costs in 2016 included $61 million of severance costs associated with the acquisition of DreamWorks Animation. |
Equity
Equity | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Equity | Note 12: Equity Common Stock In the aggregate, holders of our Class A common stock have 66 2 / 3 % of the voting power of our common stock and holders of our Class B common stock have 33 1 / 3 % of the voting power of our common stock. Each share of our Class B common stock is entitled to 15 votes. The number of votes held by each share of our Class A common stock depends on the number of shares of Class A and Class B common stock outstanding at any given time. The 33 1 / 3 % aggregate voting power of our Class B common stock cannot be diluted by additional issuances of any other class of common stock. Our Class B common stock is convertible, share for share, into Class A common stock, subject to certain restrictions. Class A Special Common Stock Reclassification In December 2015, our shareholders approved a proposal to amend and restate our Amended and Restated Certificate of Incorporation in order to reclassify each issued share of our Class A Special common stock into one share of our Class A common stock. This reclassification became effective as of the close of business on December 11, 2015, at which time our Class A Special common stock was no longer outstanding and ceased trading on the NASDAQ under the symbol CMCSK and instead became listed on the NASDAQ under the symbol CMCSA. There was no impact on basic and diluted EPS or the carrying value of total common stock as presented in our consolidated balance sheet because it was a one -for-one stock exchange. Shares of Common Stock Outstanding (in millions) A A Special B Balance, December 31, 2013 2,138 459 9 Stock compensation plans 13 — — Repurchases and retirements of common stock (22 ) (59 ) — Employee stock purchase plans 2 — — Balance, December 31, 2014 2,131 400 9 Stock compensation plans 12 — — Repurchases and retirements of common stock (62 ) (54 ) — Employee stock purchase plans 2 — — Reclassification of Class A Special common stock 346 (346 ) — Other 4 — — Balance, December 31, 2015 2,433 — 9 Stock compensation plans 11 — — Repurchases and retirements of common stock (81 ) — — Employee stock purchase plans 3 — — Balance, December 31, 2016 2,366 — 9 Share Repurchases Effective January 1, 2017, our Board of Directors increased our share repurchase program authorization to a total of $12 billion , which does not have an expiration date. Under the authorization, we may repurchase shares in the open market or in private transactions. Share Repurchases Year ended December 31 (in millions) 2016 2015 2014 Cash consideration $ 5,000 $ 6,750 $ 4,251 Shares repurchased 81 116 81 Accumulated Other Comprehensive Income (Loss) December 31 (in millions) 2016 2015 Unrealized gains (losses) on marketable securities $ — $ 1 Deferred gains (losses) on cash flow hedges (14 ) (46 ) Unrecognized gains (losses) on employee benefit obligations 219 6 Cumulative translation adjustments (107 ) (135 ) Accumulated other comprehensive income (loss), net of deferred taxes $ 98 $ (174 ) |
Share-Based Compensation
Share-Based Compensation | 12 Months Ended |
Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Share-Based Compensation | Note 13: Share-Based Compensation The tables below provide condensed information on our share-based compensation. Recognized Share-Based Compensation Expense Year ended December 31 (in millions) 2016 2015 2014 Restricted share units $ 306 $ 273 $ 231 Stock options 173 157 160 Employee stock purchase plans 28 25 23 Total $ 507 $ 455 $ 414 As of December 31, 2016 , we had unrecognized pretax compensation expense of $712 million related to nonvested RSUs and unrecognized pretax compensation expense of $375 million related to nonvested stock options that will be recognized over a weighted-average period of approximately 1.7 years and 1.8 years, respectively. In 2016 , 2015 and 2014 , we recorded increases to additional paid-in capital of $233 million , $311 million and $299 million , respectively, which were the result of tax benefits associated with our share-based compensation plans. Stock Options and Restricted Share Units As of December 31, 2016, unless otherwise stated (in millions, except per share data) Stock Options RSUs Awards granted during 2016 21 8 Weighted-average exercise price of awards granted during 2016 $ 60.01 Stock options outstanding and nonvested RSUs 95 22 Weighted-average exercise price of stock options outstanding $ 42.60 Weighted-average fair value at grant date of nonvested RSUs $ 52.11 As of December 31, 2016 , substantially all of our stock options outstanding were net settled stock options. Net settled stock options, as opposed to stock options exercised with a cash payment, result in fewer shares being issued and no cash proceeds being received by us when the options are exercised. Our share-based compensation primarily consists of awards of RSUs and stock options to certain employees and directors as part of our approach to long-term incentive compensation. Awards generally vest over a period of 5 years and in the case of stock options, have a 10 year term. Additionally, through our employee stock purchase plans, employees are able to purchase shares of Comcast common stock at a discount through payroll deductions. The cost associated with our share-based compensation is based on an award’s estimated fair value at the date of grant and is recognized over the period in which any related services are provided. RSUs are valued based on the closing price of our common stock on the date of grant and are discounted for the lack of dividends, if any, during the vesting period. We use the Black-Scholes option pricing model to estimate the fair value of stock option awards. The table below presents the weighted-average fair value on the date of grant of RSUs and stock options awarded under our various plans and the related weighted-average valuation assumptions. Year ended December 31 2016 2015 2014 RSUs fair value $ 60.03 $ 58.81 $ 47.91 Stock options fair value $ 11.55 $ 11.78 $ 11.11 Stock Option Valuation Assumptions: Dividend yield 1.8 % 1.7 % 1.8 % Expected volatility 23.0 % 23.0 % 24.0 % Risk-free interest rate 1.5 % 1.6 % 2.2 % Expected option life (in years) 6.1 6.0 6.5 |
NBCUniversal Media LLC [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Share-Based Compensation | Note 12: Share-Based Compensation The tables below provide condensed information on our share-based compensation. Recognized Share-Based Compensation Expense Year ended December 31 (in millions) 2016 2015 2014 Restricted share units $ 82 $ 78 $ 69 Stock options 9 10 16 Employee stock purchase plans 8 6 6 Total $ 99 $ 94 $ 91 As of December 31, 2016 , we had unrecognized pretax compensation expense of $204 million related to nonvested Comcast restricted share units (“RSUs”) and unrecognized pretax compensation expense of $28 million related to nonvested Comcast stock options that will be recognized over a weighted-average period of approximately 1.9 years and 1.8 years, respectively. Comcast maintains share-based compensation plans that primarily consist of awards of RSUs and stock options to certain employees and directors as part of its approach to long-term incentive compensation. Awards generally vest over a period of 5 years and in the case of stock options, have a 10 year term. Additionally, through its employee stock purchase plans, employees are able to purchase shares of Comcast common stock at a discount through payroll deductions. Certain of our employees participate in these plans and the expense associated with their participation is settled in cash with Comcast. The cost associated with Comcast’s share-based compensation is based on an award’s estimated fair value at the date of grant and is recognized over the period in which any related services are provided. RSUs are valued based on the closing price of Comcast common stock on the date of grant and are discounted for the lack of dividends, if any, during the vesting period. Comcast uses the Black-Scholes option pricing model to estimate the fair value of stock option awards. The table below presents the weighted-average fair value on the date of grant of RSUs and stock options awarded under Comcast’s various plans to employees of NBCUniversal and the related weighted-average valuation assumptions. Year ended December 31 2016 2015 2014 RSUs fair value $ 59.58 $ 59.37 $ 48.04 Stock options fair value $ 13.17 $ 11.79 $ 11.09 Stock Option Valuation Assumptions: Dividend yield 1.7 % 1.7 % 1.8 % Expected volatility 23.2 % 23.0 % 24.0 % Risk-free interest rate 1.5 % 1.6 % 2.2 % Expected option life (in years) 7.5 6.0 6.5 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Income Taxes [Line Items] | |
Income Taxes | Note 14: Income Taxes Components of Income Tax Expense Year ended December 31 (in millions) 2016 2015 2014 Current Expense (Benefit): Federal $ 3,190 $ 3,210 $ 2,392 State 480 570 174 Foreign 194 221 142 3,864 4,001 2,708 Deferred Expense (Benefit): Federal 1,192 890 1,000 State 154 66 173 Foreign 98 2 (8 ) 1,444 958 1,165 Income tax expense $ 5,308 $ 4,959 $ 3,873 Our income tax expense differs from the federal statutory amount because of the effect of the items detailed in the table below. Year ended December 31 (in millions) 2016 2015 2014 Federal tax at statutory rate $ 5,024 $ 4,680 $ 4,363 State income taxes, net of federal benefit 373 326 329 Foreign income taxes, net of federal credit 65 13 — Nontaxable income attributable to noncontrolling interests (128 ) (69 ) (62 ) Adjustments to uncertain and effectively settled tax positions, net 24 15 (408 ) Accrued interest on uncertain and effectively settled tax positions, net 17 73 (235 ) Other (67 ) (79 ) (114 ) Income tax expense $ 5,308 $ 4,959 $ 3,873 We base our provision for income taxes on our current period income, changes in our deferred income tax assets and liabilities, income tax rates, changes in estimates of our uncertain tax positions, and tax planning opportunities available in the jurisdictions in which we operate. We recognize deferred tax assets and liabilities when there are temporary differences between the financial reporting basis and tax basis of our assets and liabilities and for the expected benefits of using net operating loss carryforwards. When a change in the tax rate or tax law has an impact on deferred taxes, we apply the change based on the years in which the temporary differences are expected to reverse. We record the change in our consolidated financial statements in the period of enactment. The determination of the income tax consequences of a business combination includes identifying the tax basis of assets and liabilities acquired and any contingencies associated with uncertain tax positions assumed or resulting from the business combination. Deferred tax assets and liabilities related to temporary differences of an acquired entity are recorded as of the date of the business combination and are based on our estimate of the ultimate tax basis that will be accepted by the various tax authorities. We record liabilities for contingencies associated with prior tax returns filed by the acquired entity based on criteria set forth in the appropriate accounting guidance. We adjust the deferred tax accounts and the liabilities periodically to reflect any revised estimated tax basis and any estimated settlements with the various tax authorities. The effects of these adjustments are recorded to income tax expense. From time to time, we engage in transactions in which the tax consequences may be subject to uncertainty. In these cases, we evaluate our tax position using the recognition threshold and the measurement attribute in accordance with the accounting guidance related to uncertain tax positions. Examples of these transactions include business acquisitions and dispositions, including consideration paid or received in connection with these transactions, certain financing transactions, and the allocation of income among state and local tax jurisdictions. Significant judgment is required in assessing and estimating the tax consequences of these transactions. We determine whether it is more likely than not that a tax position will be sustained on examination, including the resolution of any related appeals or litigation processes, based on the technical merits of the position. A tax position that meets the more-likely-than-not recognition threshold is measured to determine the amount of benefit to be recognized in our consolidated financial statements. We classify interest and penalties, if any, associated with our uncertain tax positions as a component of income tax expense. NBCUniversal For U.S. federal income tax purposes, NBCUniversal Holdings is treated as a partnership and NBCUniversal is disregarded as an entity separate from NBCUniversal Holdings. Accordingly, neither NBCUniversal Holdings nor NBCUniversal and its subsidiaries incur any material current or deferred domestic income taxes. We are indemnified by GE for any income tax liability attributable to the NBCUniversal contributed businesses for periods prior to the close of the NBCUniversal transaction in January 2011 and also for any income tax liability attributable to NBCUniversal Enterprise for periods prior to the date of the NBCUniversal redemption transaction in March 2013. We have indemnified GE for any income tax liability attributable to the businesses we contributed to NBCUniversal for periods prior to the close of the NBCUniversal transaction. Current and deferred foreign income taxes are incurred by NBCUniversal’s foreign subsidiaries. In 2016 , 2015 and 2014 , NBCUniversal had foreign income before taxes of $871 million , $704 million and $385 million , respectively, on which foreign income tax expense was recorded. We recorded U.S. income tax expense on our allocable share of our subsidiaries’ income before domestic and foreign taxes, which was reduced by a U.S. tax credit equal to our allocable share of our subsidiaries’ foreign income tax expense. Components of Net Deferred Tax Liability December 31 (in millions) 2016 2015 Deferred Tax Assets: Net operating loss carryforwards $ 544 $ 551 Differences between book and tax basis of investments — 101 Nondeductible accruals and other 3,789 3,704 Less: Valuation allowance 266 342 4,067 4,014 Deferred Tax Liabilities: Differences between book and tax basis of property and equipment and intangible assets 37,401 36,392 Differences between book and tax basis of investments 144 — Differences between book and tax basis of indexed debt securities 375 457 Differences between book and tax basis of foreign subsidiaries and undistributed foreign earnings 960 731 38,880 37,580 Net deferred tax liability $ 34,813 $ 33,566 Changes in our net deferred tax liability in 2016 that were not recorded as deferred income tax expense are primarily related to an increase of $158 million associated with items included in other comprehensive income (loss), a decrease of $226 million related to acquisitions and a decrease of $129 million associated with our purchase of a noncontrolling interest. Our net deferred tax liability includes $23 billion related to cable franchise rights that will remain unchanged unless we recognize an impairment or dispose of a cable franchise or there is a change in the tax law. As of December 31, 2016 , we had federal net operating loss carryforwards of $598 million , including losses of DreamWorks Animation, and various state net operating loss carryforwards that expire in periods through 2036. As of December 31, 2016 , we also had foreign net operating loss carryforwards of $431 million that are related to the foreign operations of NBCUniversal, the majority of which expire in periods through 2026. The determination of the realization of the state and foreign net operating loss carryforwards is dependent on our subsidiaries’ taxable income or loss, apportionment percentages, redetermination from taxing authorities, and state and foreign laws that can change from year to year and impact the amount of such carryforwards. We recognize a valuation allowance if we determine it is more likely than not that some portion, or all, of a deferred tax asset will not be realized. As of December 31, 2016 and 2015 , our valuation allowance was primarily related to state and foreign net operating loss carryforwards. Uncertain Tax Positions Our uncertain tax positions as of December 31, 2016 totaled $1.1 billion , which exclude the federal benefits on state tax positions that were recorded as deferred income taxes. Included in our uncertain tax positions was $181 million related to tax positions of NBCUniversal and NBCUniversal Enterprise for which we have been indemnified by GE. If we were to recognize the tax benefit for our uncertain tax positions in the future, $600 million would impact our effective tax rate and the remaining amount would increase our deferred income tax liability. The amount and timing of the recognition of any such tax benefit is dependent on the completion of examinations of our tax filings by the various tax authorities and the expiration of statutes of limitations. In 2014, we reduced our accruals for uncertain tax positions and the related accrued interest on these tax positions and, as a result, our income tax expense decreased by $759 million . It is reasonably possible that certain tax contests could be resolved within the next 12 months that may result in a decrease in our effective tax rate. Reconciliation of Unrecognized Tax Benefits (in millions) 2016 2015 2014 Balance, January 1 $ 1,136 $ 1,171 $ 1,701 Additions based on tax positions related to the current year 74 67 63 Additions based on tax positions related to prior years 67 98 111 Additions from acquired subsidiaries 13 — — Reductions for tax positions of prior years (62 ) (84 ) (220 ) Reductions due to expiration of statutes of limitations (44 ) (41 ) (448 ) Settlements with tax authorities (81 ) (75 ) (36 ) Balance, December 31 $ 1,103 $ 1,136 $ 1,171 As of December 31, 2016 and 2015 , our accrued interest associated with uncertain tax positions was $483 million and $510 million , respectively. As of December 31, 2016 and 2015 , $39 million and $49 million , respectively, of these amounts were related to tax positions of NBCUniversal and NBCUniversal Enterprise for which we have been indemnified by GE. During 2016 , the IRS completed its examination of our income tax returns for the year 2014. Various states are examining our tax returns, with most of the periods relating to tax years 2000 and forward. The tax years of our state tax returns currently under examination vary by state. |
NBCUniversal Media LLC [Member] | |
Income Taxes [Line Items] | |
Income Taxes | Note 13: Income Taxes Components of Income Tax Expense Year ended December 31 (in millions) 2016 2015 2014 Foreign Current income tax expense $ 38 $ 81 $ 33 Deferred income tax expense 96 2 (8 ) Withholding tax expense 158 139 108 U.S. domestic tax expense 13 5 10 Income tax expense $ 305 $ 227 $ 143 We are a limited liability company, and our company is disregarded for U.S. federal income tax purposes as an entity separate from NBCUniversal Holdings, a tax partnership. We are not expected to incur any significant current or deferred U.S. domestic income taxes. Our tax liability is comprised primarily of withholding tax on foreign licensing activity and income taxes on foreign earnings. As a result of our tax status, the deferred tax assets and liabilities included in our consolidated balance sheet at December 31, 2016 and 2015 were not material. In jurisdictions in which we are subject to income taxes, we base our provision for income taxes on our current period income, changes in our deferred income tax assets and liabilities, income tax rates, changes in estimates of our uncertain tax positions, and tax planning opportunities available in the jurisdictions in which we operate. We recognize deferred tax assets and liabilities when there are temporary differences between the financial reporting basis and tax basis of our assets and liabilities and for the expected benefits of using net operating loss carryforwards. When a change in the tax rate or tax law has an impact on deferred taxes, we apply the change based on the years in which the temporary differences are expected to reverse. We record the change in our consolidated financial statements in the period of enactment. We classify interest and penalties, if any, associated with our uncertain tax positions as a component of income tax expense. Uncertain Tax Positions We retain liabilities for uncertain tax positions where we are the tax filer of record. GE and Comcast have indemnified NBCUniversal Holdings and us with respect to our income tax obligations attributable to periods prior to the close of the joint venture transaction, including indemnification of uncertain tax positions for these periods. The liabilities for uncertain tax positions included in our consolidated balance sheet were not material as of December 31, 2016 and 2015 . Various domestic and foreign tax authorities are examining our tax returns through tax year 2015. The majority of the periods under examination relate to tax years 2009 and forward. |
Supplemental Financial Informat
Supplemental Financial Information | 12 Months Ended |
Dec. 31, 2016 | |
Supplemental Financial Information [Line Items] | |
Supplemental Financial Information | Note 15: Supplemental Financial Information Receivables December 31 (in millions) 2016 2015 Receivables, gross $ 8,622 $ 7,595 Less: Allowance for returns and customer incentives 417 473 Less: Allowance for doubtful accounts 250 226 Receivables, net $ 7,955 $ 6,896 In addition to the amounts in the table above, as of December 31, 2016 and 2015 , noncurrent receivables of $939 million and $721 million , respectively, are included in other noncurrent assets, net that primarily relate to the licensing of our television and film productions to third parties. Cash Payments for Interest and Income Taxes Year ended December 31 (in millions) 2016 2015 2014 Interest $ 2,565 $ 2,443 $ 2,389 Income taxes $ 3,693 $ 3,726 $ 3,668 Noncash Investing and Financing Activities During 2016 : • we acquired $1.3 billion of property and equipment and intangible assets that were accrued but unpaid • we recorded a liability of $653 million for a quarterly cash dividend of $0.275 per common share paid in January 2017 • we recorded a liability for capital contributions for an investment that were accrued in December and paid in January 2017 (see Note 7 for additional information) During 2015 : • we acquired $1.1 billion of property and equipment and intangible assets that were accrued but unpaid • we recorded a liability of $612 million for a quarterly cash dividend of $0.25 per common share paid in January 2016 • we assumed liabilities related to the Universal Studios Japan transaction (see Note 5 for additional information) • we used $517 million of equity securities to settle a portion of our obligations under prepaid forward sale agreements During 2014 : • we acquired $797 million of property and equipment and intangible assets that were accrued but unpaid • we recorded a liability of $572 million for a quarterly cash dividend of $0.225 per common share paid in January 2015 • we used $3.2 billion of equity securities to settle a portion of our obligations under prepaid forward sale agreements |
NBCUniversal Media LLC [Member] | |
Supplemental Financial Information [Line Items] | |
Supplemental Financial Information | Note 14: Supplemental Financial Information Receivables December 31 (in millions) 2016 2015 Receivables, gross $ 6,799 $ 5,949 Less: Allowance for returns and customer incentives 413 469 Less: Allowance for doubtful accounts 84 69 Receivables, net $ 6,302 $ 5,411 In addition to the amounts in the table above, as of December 31, 2016 and 2015 , noncurrent receivables of $939 million and $721 million , respectively, are included in other noncurrent assets, net that primarily relate to the licensing of our television and film productions to third parties. Accumulated Other Comprehensive Income (Loss) December 31 (in millions) 2016 2015 Deferred gains (losses) on cash flow hedges $ 23 $ (1 ) Unrecognized gains (losses) on employee benefit obligations 14 (1 ) Cumulative translation adjustments (172 ) (210 ) Accumulated other comprehensive income (loss) $ (135 ) $ (212 ) Cash Payments for Interest and Income Taxes Year ended December 31 (in millions) 2016 2015 2014 Interest $ 548 $ 456 $ 485 Income taxes $ 208 $ 182 $ 174 Noncash Investing and Financing Activities During 2016 : • we acquired $189 million of property and equipment and intangible assets that were accrued but unpaid • Comcast contributed the net assets of DreamWorks Animation to us, which was primarily a noncash transaction (see Note 4 for additional information) During 2015 : • we acquired $287 million of property and equipment and intangible assets that were accrued but unpaid • Comcast contributed the net assets of $252 million related to an acquired business, which was a noncash transaction • we assumed liabilities related to the Universal Studios Japan transaction (see Note 4 for additional information) During 2014 : • we acquired $148 million of property and equipment and intangible assets that were accrued but unpaid |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2016 | |
Commitment And Contingencies [Line Items] | |
Commitments and Contingencies | Note 16: Commitments and Contingencies Commitments NBCUniversal enters into long-term commitments with third parties in the ordinary course of its business, including commitments to acquire film and television programming, obligations under various creative talent agreements, and various other television-related commitments. Many of NBCUniversal’s employees, including writers, directors, actors, technical and production personnel, and others, as well as some of its on-air and creative talent, are covered by collective bargaining agreements or works councils. As of December 31, 2016 , the total number of NBCUniversal full-time, part-time and hourly employees on its payroll covered by collective bargaining agreements was 8,500 full-time equivalent employees. Approximately 15% of these full-time equivalent employees were covered by collective bargaining agreements that have expired or are scheduled to expire during 2017. We, through Comcast Spectacor, have employment agreements with both players and coaches of the Philadelphia Flyers. Certain of these employment agreements, which provide for payments that are guaranteed regardless of employee injury or termination, are covered by disability insurance if certain conditions are met. The table below summarizes our minimum annual programming and talent commitments and our minimum annual rental commitments for office space, equipment and transponder service agreements under operating leases. Programming and talent commitments include acquired film and television programming, including U.S. broadcast rights to the Olympic Games through 2032, Sunday Night Football through the 2022-23 season , Thursday Night Football through the 2017-18 season , certain NASCAR events through 2024 and other programming commitments, as well as various contracts with creative talent. As of December 31, 2016 (in millions) Programming and Talent Commitments Operating Leases 2017 $ 5,222 $ 517 2018 $ 4,879 $ 485 2019 $ 3,503 $ 433 2020 $ 4,587 $ 378 2021 $ 3,177 $ 321 Thereafter $ 20,847 $ 1,873 The table below presents our rental expense charged to operations. Year ended December 31 (in millions) 2016 2015 2014 Rental expense $ 744 $ 608 $ 580 Contractual Obligation We are party to a contractual obligation that involves an interest held by a third party in the revenue of certain theme parks. The arrangement provides the counterparty with the right to periodic payments associated with current period revenue and, beginning in June 2017, the option to require NBCUniversal to purchase the interest for cash in an amount based on a contractual formula. The contractual formula is based on an average of specified historical theme park revenue at the time of exercise, which amount could be significantly higher than our carrying value. As of December 31, 2016 , our carrying value was $1.1 billion , and if the option had been exercisable as of December 31, 2016 , the estimated value of the contractual obligation would have been approximately $1.4 billion , based on inputs to the contractual formula as of that date. 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 GE, for a payment of $450 million , which is included as a financing activity in our consolidated statement of cash flows. The settlement resulted in a gain of $240 million , which was recorded to other income (expense), net in our consolidated statement of income. Redeemable Subsidiary Preferred Stock NBCUniversal Enterprise is a holding company that we control and consolidate whose principal assets are its interests in NBCUniversal Holdings. The NBCUniversal Enterprise preferred stock pays dividends at a fixed rate of 5.25% per annum. The holders have the right to cause NBCUniversal Enterprise to redeem their shares at a price equal to the liquidation preference plus accrued but unpaid dividends for a 30 day period beginning on March 19, 2020 and thereafter on every third anniversary of such date (each such date, a “put date”). Shares of preferred stock can be called for redemption by NBCUniversal Enterprise at a price equal to the liquidation preference plus accrued but unpaid dividends one year following the put date applicable to such shares. Because certain of these redemption provisions are outside of our control, the NBCUniversal Enterprise preferred stock is presented outside of equity under the caption “redeemable noncontrolling interests and redeemable subsidiary preferred stock” in our consolidated balance sheet. Its initial value was based on the liquidation preference of the preferred stock and is adjusted for accrued but unpaid dividends. As of December 31, 2016 and 2015, the fair value of the NBCUniversal Enterprise redeemable subsidiary preferred stock was $741 million and $758 million , respectively. 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. 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 subject to other legal proceedings and claims that arise in the ordinary course of our business. While the amount of ultimate liability with respect to such actions is not expected to materially affect our results of operations, cash flows or financial position, any litigation resulting from any such legal proceedings or claims could be time-consuming and injure our reputation. |
NBCUniversal Media LLC [Member] | |
Commitment And Contingencies [Line Items] | |
Commitments and Contingencies | Note 15: Commitments and Contingencies Commitments We enter into long-term commitments with third parties in the ordinary course of our business, including commitments to acquire film and television programming, obligations under various creative talent agreements, and various other television-related commitments. Many of our employees, including writers, directors, actors, technical and production personnel, and others, as well as some of our on-air and creative talent, are covered by collective bargaining agreements or works councils. As of December 31, 2016 , the total number of full-time, part-time and hourly employees on our payroll covered by collective bargaining agreements was 8,500 full-time equivalent employees. Approximately 15% of these full-time equivalent employees were covered by collective bargaining agreements that have expired or are scheduled to expire during 2017. The table below summarizes our minimum annual programming and talent commitments and our minimum annual rental commitments for office space and equipment under operating leases. Programming and talent commitments include acquired film and television programming, including U.S. broadcast rights to the Olympic Games through 2032, Sunday Night Football through the 2022-23 season , Thursday Night Football through the 2017-18 season , certain NASCAR events through 2024 and other programming commitments, as well as various contracts with creative talent. As of December 31, 2016 (in millions) Programming and Talent Commitments Operating Leases 2017 $ 5,213 $ 198 2018 $ 4,876 $ 182 2019 $ 3,503 $ 173 2020 $ 4,587 $ 163 2021 $ 3,177 $ 147 Thereafter $ 20,847 $ 1,238 The table below presents our rental expense charged to operations. Year ended December 31 (in millions) 2016 2015 2014 Rental expense $ 259 $ 213 $ 222 Contractual Obligation We are party to a contractual obligation that involves an interest held by a third party in the revenue of certain theme parks. The arrangement provides the counterparty with the right to periodic payments associated with current period revenue and, beginning in June 2017, the option to require NBCUniversal to purchase the interest for cash in an amount based on a contractual formula. The contractual formula is based on an average of specified historical theme park revenue at the time of exercise, which amount could be significantly higher than our carrying value. As of December 31, 2016 , our carrying value was $1.1 billion , and if the option had been exercisable as of December 31, 2016 , the estimated value of the contractual obligation would have been approximately $1.4 billion , based on inputs to the contractual formula as of that date. |
Financial Data by Business Segm
Financial Data by Business Segment | 12 Months Ended |
Dec. 31, 2016 | |
Segment Reporting Information [Line Items] | |
Financial Data by Business Segment | Note 17: Financial Data by Business Segment We present our operations in one reportable business segment for Cable Communications and four reportable business segments for NBCUniversal. The Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks segments comprise the NBCUniversal businesses and are collectively referred to as the NBCUniversal segments. Our financial data by reportable business segment is presented in the tables below. We do not present a measure of total assets for our reportable business segments as this information is not used by management to allocate resources and capital. (in millions) Revenue (f) Operating (g) Depreciation Operating Capital Cash Paid for Intangible Assets 2016 Cable Communications (a)(b) $ 50,048 $ 20,109 $ 7,670 $ 12,439 $ 7,596 $ 1,377 NBCUniversal Cable Networks (c) 10,464 3,709 745 2,964 32 20 Broadcast Television (c) 10,147 1,320 125 1,195 153 19 Filmed Entertainment 6,360 697 47 650 33 16 Theme Parks 4,946 2,190 512 1,678 922 72 Headquarters and Other (d) 20 (699 ) 376 (1,075 ) 312 156 Eliminations (e) (344 ) 10 — 10 — — NBCUniversal 31,593 7,227 1,805 5,422 1,452 283 Corporate and Other (b) 750 (874 ) 83 (957 ) 87 26 Eliminations (e) (1,988 ) (45 ) — (45 ) — — Comcast Consolidated $ 80,403 $ 26,417 $ 9,558 $ 16,859 $ 9,135 $ 1,686 (in millions) Revenue (f) Operating (g) Depreciation Operating Capital Cash Paid for Intangible Assets 2015 Cable Communications (a)(b) $ 46,928 $ 19,037 $ 7,051 $ 11,986 $ 7,040 $ 1,151 NBCUniversal Cable Networks 9,628 3,499 784 2,715 44 22 Broadcast Television (c) 8,530 780 111 669 117 17 Filmed Entertainment 7,287 1,234 26 1,208 14 20 Theme Parks 3,339 1,464 292 1,172 833 54 Headquarters and Other (d) 14 (625 ) 326 (951 ) 378 98 Eliminations (e) (336 ) — — — — — NBCUniversal 28,462 6,352 1,539 4,813 1,386 211 Corporate and Other (b) 713 (815 ) 90 (905 ) 73 8 Eliminations (e) (1,593 ) 104 — 104 — — Comcast Consolidated $ 74,510 $ 24,678 $ 8,680 $ 15,998 $ 8,499 $ 1,370 (in millions) Revenue (f) Operating (g) Depreciation Operating Capital Cash Paid for Intangible Assets 2014 Cable Communications (a)(b) $ 44,165 $ 18,097 $ 6,436 $ 11,661 $ 6,156 $ 979 NBCUniversal Cable Networks (c) 9,563 3,589 748 2,841 49 21 Broadcast Television (c) 8,542 734 127 607 76 12 Filmed Entertainment 5,008 711 21 690 11 7 Theme Parks 2,623 1,096 273 823 671 15 Headquarters and Other (d) 13 (613 ) 326 (939 ) 414 75 Eliminations (e) (321 ) (1 ) — (1 ) — — NBCUniversal 25,428 5,516 1,495 4,021 1,221 130 Corporate and Other (b) 683 (763 ) 88 (851 ) 43 13 Eliminations (e) (1,501 ) 73 — 73 — — Comcast Consolidated $ 68,775 $ 22,923 $ 8,019 $ 14,904 $ 7,420 $ 1,122 (a) For the years ended December 31, 2016 , 2015 and 2014 , Cable Communications segment revenue was derived from the following sources: 2016 2015 2014 Residential: Video 44.7 % 45.9 % 47.1 % High-speed Internet 27.0 % 26.6 % 25.6 % Voice 7.1 % 7.7 % 8.3 % Business services 11.0 % 10.1 % 9.0 % Advertising 5.0 % 4.9 % 5.4 % Other 5.2 % 4.8 % 4.6 % Total 100 % 100 % 100 % Subscription revenue received from customers who purchase bundled services at a discounted rate is allocated proportionally to each service based on the individual service’s price on a stand-alone basis. For each of 2016 , 2015 and 2014 , 2.8% of Cable Communications revenue was derived from franchise and other regulatory fees. (b) Beginning in 2016, certain operations and businesses, including several strategic business initiatives, that were previously presented in Corporate and Other are now presented in our Cable Communications segment to reflect a change in our management reporting presentation. For segment reporting purposes, we have adjusted all periods presented to reflect this change. (c) The revenue and operating costs and expenses associated with our broadcast of the 2016 Rio Olympics and 2014 Sochi Olympics were reported in our Cable Networks and Broadcast Television segments. The revenue and operating costs and expenses associated with our broadcast of the 2015 Super Bowl were reported in our Broadcast Television segment. (d) NBCUniversal Headquarters and Other activities include costs associated with overhead, allocations, personnel costs and headquarter initiatives. (e) 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 segment generates revenue by selling programming to our Cable Communications segment, which represents a substantial majority of the revenue elimination amount • our Broadcast Television segment generates revenue from the fees received under retransmission consent agreements with our Cable Communications segment • our Cable Communications segment generates revenue by selling advertising and by selling the use of satellite feeds to our Cable Networks segment • our Filmed Entertainment and Broadcast Television segments generate revenue by licensing content to our Cable Networks segment (f) Revenue from customers located outside of the United States, primarily in Europe and Asia, in 2016 , 2015 and 2014 was $6.5 billion , $5.8 billion and $4.4 billion , respectively. No single customer accounted for a significant amount of revenue in any period. (g) We use operating income (loss) before depreciation and amortization, excluding impairment charges related to fixed and intangible assets and gains or losses from the sale of assets, if any, as the measure of profit or loss for our operating segments. This measure eliminates the significant level of noncash depreciation and amortization expense that results from the capital-intensive nature of certain of our businesses and from intangible assets recognized in business combinations. Additionally, it is unaffected by our capital structure or investment activities. We use this measure to evaluate our consolidated operating performance and the operating performance of our operating segments and to allocate resources and capital to our operating segments. It is also a significant performance measure in our annual incentive compensation programs. We believe that this measure is useful to investors because it is one of the bases for comparing our operating performance with that of other companies in our industries, although our measure may not be directly comparable to similar measures used by other companies. This measure should not be considered a substitute for operating income (loss), net income (loss) attributable to Comcast Corporation, net cash provided by operating activities, or other measures of performance or liquidity we have reported in accordance with GAAP. |
NBCUniversal Media LLC [Member] | |
Segment Reporting Information [Line Items] | |
Financial Data by Business Segment | Note 16: Financial Data by Business Segment We present our operations in four reportable business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks. Our financial data by reportable business segment is presented in the tables below. We do not present a measure of total assets for our reportable business segments as this information is not used by management to allocate resources and capital. (in millions) Revenue (d) Operating (e) Depreciation Operating Capital Cash Paid for Intangible Assets 2016 Cable Networks (a) $ 10,464 $ 3,709 $ 745 $ 2,964 $ 32 $ 20 Broadcast Television (a) 10,147 1,320 125 1,195 153 19 Filmed Entertainment 6,360 697 47 650 33 16 Theme Parks 4,946 2,190 512 1,678 922 72 Headquarters and Other (b) 20 (699 ) 376 (1,075 ) 312 156 Eliminations (c) (344 ) 10 — 10 — — Total $ 31,593 $ 7,227 $ 1,805 $ 5,422 $ 1,452 $ 283 (in millions) Revenue (d) Operating (e) Depreciation Operating Capital Cash Paid for Intangible Assets 2015 Cable Networks $ 9,628 $ 3,499 $ 784 $ 2,715 $ 44 $ 22 Broadcast Television (a) 8,530 780 111 669 117 17 Filmed Entertainment 7,287 1,234 26 1,208 14 20 Theme Parks 3,339 1,464 292 1,172 833 54 Headquarters and Other (b) 14 (625 ) 326 (951 ) 378 98 Eliminations (c) (336 ) 6 — 6 — — Total $ 28,462 $ 6,358 $ 1,539 $ 4,819 $ 1,386 $ 211 (in millions) Revenue (d) Operating (e) Depreciation Operating Capital Cash Paid for Intangible Assets 2014 Cable Networks (a) $ 9,563 $ 3,589 $ 748 $ 2,841 $ 49 $ 21 Broadcast Television (a) 8,542 734 127 607 76 12 Filmed Entertainment 5,008 711 21 690 11 7 Theme Parks 2,623 1,096 273 823 671 15 Headquarters and Other (b) 13 (613 ) 326 (939 ) 414 75 Eliminations (c) (321 ) 71 — 71 — — Total $ 25,428 $ 5,588 $ 1,495 $ 4,093 $ 1,221 $ 130 (a) The revenue and operating costs and expenses associated with our broadcast of the 2016 Rio Olympics and 2014 Sochi Olympics were reported in our Cable Networks and Broadcast Television segments. The revenue and operating costs and expenses associated with our broadcast of the 2015 Super Bowl were reported in our Broadcast Television segment. (b) Headquarters and Other activities include costs associated with overhead, allocations, personnel costs and headquarter initiatives. (c) Eliminations are transactions that our segments enter into with one another, which consisted primarily of the licensing of film and television content from our Filmed Entertainment and Broadcast Television segments to our Cable Networks segment. (d) We operate primarily in the United States, but also in select international markets primarily in Europe and Asia. The table below summarizes revenue by geographic location. No single customer accounted for a significant amount of revenue in any period. Year ended December 31 (in millions) 2016 2015 2014 Revenue: United States $ 25,076 $ 22,663 $ 20,995 Foreign $ 6,517 $ 5,799 $ 4,433 (e) We use operating income (loss) before depreciation and amortization, excluding impairment charges related to fixed and intangible assets and gains or losses from the sale of assets, if any, as the measure of profit or loss for our operating segments. This measure eliminates the significant level of noncash amortization expense that results from intangible assets recognized in connection with the joint venture transaction and other business combinations. Additionally, it is unaffected by our capital structure or investment activities. We use this measure to evaluate our consolidated operating performance and the operating performance of our operating segments and to allocate resources and capital to our operating segments. It is also a significant performance measure in our annual incentive compensation programs. We believe that this measure is useful to investors because it is one of the bases for comparing our operating performance with that of other companies in our industries, although our measure may not be directly comparable to similar measures used by other companies. This measure should not be considered a substitute for operating income (loss), net income (loss) attributable to NBCUniversal, net cash provided by operating activities, or other measures of performance or liquidity we have reported in accordance with GAAP. |
Quarterly Financial Information
Quarterly Financial Information (Unaudited) | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Information [Line Items] | |
Quarterly Financial Information (Unaudited) | Note 18: Quarterly Financial Information (Unaudited) (in millions, except per share data) First Second Third Fourth Total 2016 Revenue $ 18,790 $ 19,269 $ 21,319 $ 21,025 $ 80,403 Operating income $ 4,089 $ 4,066 $ 4,440 $ 4,264 $ 16,859 Net income attributable to Comcast Corporation (a) $ 2,134 $ 2,028 $ 2,237 $ 2,296 $ 8,695 Basic earnings per common share attributable to Comcast Corporation shareholders $ 0.88 $ 0.84 $ 0.93 $ 0.96 $ 3.61 Diluted earnings per common share attributable to Comcast Corporation shareholders $ 0.87 $ 0.83 $ 0.92 $ 0.95 $ 3.57 Dividends declared per common share $ 0.275 $ 0.275 $ 0.275 $ 0.275 $ 1.10 2015 Revenue $ 17,853 $ 18,743 $ 18,669 $ 19,245 $ 74,510 Operating income $ 3,890 $ 4,105 $ 4,001 $ 4,002 $ 15,998 Net income attributable to Comcast Corporation $ 2,059 $ 2,137 $ 1,996 $ 1,971 $ 8,163 Basic earnings per common share attributable to Comcast Corporation shareholders $ 0.82 $ 0.85 $ 0.81 $ 0.80 $ 3.28 Diluted earnings per common share attributable to Comcast Corporation shareholders $ 0.81 $ 0.84 $ 0.80 $ 0.79 $ 3.24 Dividends declared per common share $ 0.25 $ 0.25 $ 0.25 $ 0.25 $ 1.00 (a) In the fourth quarter of 2016, net income attributable to Comcast Corporation included $225 million , $143 million net of tax, recognized in connection with the settlement of amounts owed to us under an agency agreement that had provided for, among other things, Verizon Wireless’ sale of our cable services . |
Condensed Consolidating Financi
Condensed Consolidating Financial Information | 12 Months Ended |
Dec. 31, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Consolidating Financial Information | Note 19: 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, including the Comcast revolving credit facility. The principal amount of debt securities within the guarantee structure total $52.9 billion , of which $12.3 billion will mature within the next five years . Comcast Parent and CCCL Parent also fully and unconditionally guarantee NBCUniversal Enterprise’s $3.3 billion principal amount of senior notes, revolving credit facility and commercial paper program. NBCUniversal Media Parent does not guarantee the NBCUniversal Enterprise senior notes, revolving 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 Holdings’ ZONES due November 2029 or the $3.3 billion of Universal Studios Japan term loans. Condensed Consolidating Balance Sheet December 31, 2016 (in millions) Comcast Comcast CCCL NBCUniversal Non- Elimination Consolidated Assets Cash and cash equivalents $ — $ — $ — $ 482 $ 2,819 $ — $ 3,301 Receivables, net — — — — 7,955 — 7,955 Programming rights — — — — 1,250 — 1,250 Deposits — — — — 1,772 — 1,772 Other current assets 151 — — 36 1,896 — 2,083 Total current assets 151 — — 518 15,692 — 16,361 Film and television costs — — — — 7,252 — 7,252 Investments 75 — — 651 4,521 — 5,247 Investments in and amounts due from subsidiaries eliminated upon consolidation 98,350 120,071 117,696 47,393 97,704 (481,214 ) — Property and equipment, net 298 — — — 35,955 — 36,253 Franchise rights — — — — 59,364 — 59,364 Goodwill — — — — 35,980 — 35,980 Other intangible assets, net 13 — — — 17,261 — 17,274 Other noncurrent assets, net 1,138 638 — 89 1,921 (1,017 ) 2,769 Total assets $ 100,025 $ 120,709 $ 117,696 $ 48,651 $ 275,650 $ (482,231 ) $ 180,500 Liabilities and Equity Accounts payable and accrued expenses related to trade creditors $ 23 $ — $ — $ — $ 6,892 $ — $ 6,915 Accrued participations and residuals — — — — 1,726 — 1,726 Accrued expenses and other current liabilities 1,726 — 341 302 5,045 — 7,414 Current portion of long-term debt 3,739 — 550 4 1,187 — 5,480 Total current liabilities 5,488 — 891 306 14,850 — 21,535 Long-term debt, less current portion 38,123 141 2,100 8,208 6,994 — 55,566 Deferred income taxes — 542 — 70 35,259 (1,017 ) 34,854 Other noncurrent liabilities 2,471 — — 1,166 7,288 — 10,925 Redeemable noncontrolling interests and redeemable subsidiary preferred stock — — — — 1,446 — 1,446 Equity: Common stock 28 — — — — — 28 Other shareholders’ equity 53,915 120,026 114,705 38,901 207,582 (481,214 ) 53,915 Total Comcast Corporation shareholders’ equity 53,943 120,026 114,705 38,901 207,582 (481,214 ) 53,943 Noncontrolling interests — — — — 2,231 — 2,231 Total equity 53,943 120,026 114,705 38,901 209,813 (481,214 ) 56,174 Total liabilities and equity $ 100,025 $ 120,709 $ 117,696 $ 48,651 $ 275,650 $ (482,231 ) $ 180,500 Condensed Consolidating Balance Sheet December 31, 2015 (in millions) Comcast Comcast CCCL NBCUniversal Non- Elimination Consolidated Assets Cash and cash equivalents $ — $ — $ — $ 414 $ 1,881 $ — $ 2,295 Receivables, net — — — — 6,896 — 6,896 Programming rights — — — — 1,213 — 1,213 Deposits — — — — 21 — 21 Other current assets 69 — — 17 1,792 — 1,878 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 Statement of Income For the Year Ended December 31, 2016 (in millions) Comcast Comcast CCCL NBCUniversal Non- Elimination Consolidated Revenue: Service revenue $ — $ — $ — $ — $ 80,403 $ — $ 80,403 Management fee revenue 1,067 — 1,049 — — (2,116 ) — 1,067 — 1,049 — 80,403 (2,116 ) 80,403 Costs and Expenses: Programming and production — — — — 24,463 — 24,463 Other operating and administrative 813 — 1,049 932 22,731 (2,116 ) 23,409 Advertising, marketing and promotion — — — — 6,114 — 6,114 Depreciation 28 — — — 7,436 — 7,464 Amortization 6 — — — 2,088 — 2,094 847 — 1,049 932 62,832 (2,116 ) 63,544 Operating income (loss) 220 — — (932 ) 17,571 — 16,859 Other Income (Expense): Interest expense (1,941 ) (12 ) (239 ) (456 ) (294 ) — (2,942 ) Investment income (loss), net 7 (5 ) — (25 ) 236 — 213 Equity in net income (losses) of investees, net 9,809 9,286 8,679 5,545 4,131 (37,554 ) (104 ) Other income (expense), net — — — 116 211 — 327 7,875 9,269 8,440 5,180 4,284 (37,554 ) (2,506 ) Income (loss) before income taxes 8,095 9,269 8,440 4,248 21,855 (37,554 ) 14,353 Income tax (expense) benefit 600 6 84 (13 ) (5,985 ) — (5,308 ) Net income (loss) 8,695 9,275 8,524 4,235 15,870 (37,554 ) 9,045 Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock — — — — (350 ) — (350 ) Net income (loss) attributable to Comcast Corporation $ 8,695 $ 9,275 $ 8,524 $ 4,235 $ 15,520 $ (37,554 ) $ 8,695 Comprehensive income (loss) attributable to Comcast Corporation $ 8,967 $ 9,317 $ 8,530 $ 4,312 $ 15,610 $ (37,769 ) $ 8,967 Condensed Consolidating Statement of Income For the Year Ended December 31, 2015 (in millions) Comcast Comcast CCCL NBCUniversal Non- Elimination Consolidated 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 20,642 (1,982 ) 21,319 Advertising, marketing and promotion — — — — 5,963 — 5,963 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 Comcast CCCL NBCUniversal Non- Elimination Consolidated 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 19,127 (1,868 ) 19,839 Advertising, marketing and promotion — — — — 5,101 — 5,101 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 Cash Flows For the Year Ended December 31, 2016 (in millions) Comcast Comcast CCCL NBCUniversal Non- Elimination Consolidated Net cash provided by (used in) operating activities $ (1,332 ) $ (189 ) $ (100 ) $ (1,453 ) $ 22,314 $ — $ 19,240 Investing Activities: Net transactions with affiliates (860 ) 189 100 2,642 (2,071 ) — — Capital expenditures (13 ) — — — (9,122 ) — (9,135 ) Cash paid for intangible assets (9 ) — — — (1,677 ) — (1,686 ) Acquisitions and construction of real estate properties (35 ) — — — (393 ) — (428 ) Acquisitions, net of cash acquired — — — — (3,929 ) — (3,929 ) Proceeds from sales of businesses and investments — — — 104 114 — 218 Purchases of investments (40 ) — — (210 ) (1,447 ) — (1,697 ) Deposits — — — — (1,749 ) — (1,749 ) Other (108 ) — — (35 ) 164 — 21 Net cash provided by (used in) investing activities (1,065 ) 189 100 2,501 (20,110 ) — (18,385 ) Financing Activities: Proceeds from (repayments of) short-term borrowings, net 1,339 — — — 451 — 1,790 Proceeds from borrowings 9,231 — — — — — 9,231 Repurchases and repayments of debt (750 ) — — (1,005 ) (1,297 ) — (3,052 ) Repurchases and retirements of common stock (5,000 ) — — — — — (5,000 ) Dividends paid (2,601 ) — — — — — (2,601 ) Issuances of common stock 23 — — — — — 23 Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock — — — — (253 ) — (253 ) Other 155 — — 25 (167 ) — 13 Net cash provided by (used in) financing activities 2,397 — — (980 ) (1,266 ) — 151 Increase (decrease) in cash and cash equivalents — — — 68 938 — 1,006 Cash and cash equivalents, beginning of year — — — 414 1,881 — 2,295 Cash and cash equivalents, end of year $ — $ — $ — $ 482 $ 2,819 $ — $ 3,301 Condensed Consolidating Statement of Cash Flows For the Year Ended December 31, 2015 (in millions) Comcast Comcast CCCL NBCUniversal Non- Elimination Consolidated 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 ) Deposits — — — — (18 ) — (18 ) Other 7 — — (5 ) 236 — 238 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 Comcast CCCL NBCUniversal Non- Elimination Consolidated 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 ) Deposits — — — — — — — 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 |
Schedule II Valuation and Quali
Schedule II Valuation and Qualifying Accounts | 12 Months Ended |
Dec. 31, 2016 | |
Valuation and Qualifying Accounts Disclosure [Line Items] | |
Schedule II - Valuation and Qualifying Accounts | Comcast Corporation and Subsidiaries Schedule II – Valuation and Qualifying Accounts Year ended December 31, 2016 , 2015 and 2014 Year Ended December 31 (in millions) Balance at Beginning Additions Charged to Deductions from Balance at End 2016 Allowance for doubtful accounts $ 226 $ 86 $ 62 $ 250 Allowance for returns and customer incentives 473 1,041 1,097 417 Valuation allowance on deferred tax assets 342 23 99 266 2015 Allowance for doubtful accounts $ 205 $ 166 $ 145 $ 226 Allowance for returns and customer incentives 359 1,236 1,122 473 Valuation allowance on deferred tax assets 375 4 37 342 2014 Allowance for doubtful accounts $ 221 $ 162 $ 178 $ 205 Allowance for returns and customer incentives 375 932 948 359 Valuation allowance on deferred tax assets 405 33 63 375 |
NBCUniversal Media LLC [Member] | |
Valuation and Qualifying Accounts Disclosure [Line Items] | |
Schedule II - Valuation and Qualifying Accounts | NBCUniversal Media, LLC Schedule II– Valuation and Qualifying Accounts Year ended December 31, 2016 , 2015 and 2014 Year Ended December 31 (in millions) Balance at Beginning Additions Charged to Deductions from Balance at End 2016 Allowance for doubtful accounts $ 69 $ 26 $ 11 $ 84 Allowance for returns and customer incentives 469 1,040 1,096 413 Valuation allowance on deferred tax assets 71 23 22 72 2015 Allowance for doubtful accounts $ 60 $ 27 $ 18 $ 69 Allowance for returns and customer incentives 356 1,233 1,120 469 Valuation allowance on deferred tax assets 87 4 20 71 2014 Allowance for doubtful accounts $ 65 $ 11 $ 16 $ 60 Allowance for returns and customer incentives 372 930 946 356 Valuation allowance on deferred tax assets 60 33 6 87 (a) Additions and deductions related to allowance for returns and customer incentives include amounts for distribution on behalf of third parties. |
Accounting Policies (Policies)
Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Line Items] | |
Impairment Testing of Investments | Impairment Testing of Investments We review our investment portfolio each reporting period to determine whether there are identified events or circumstances that would indicate there is a decline in the fair value that would be considered other than temporary. For our nonpublic investments, if there are no identified events or circumstances that would have a significant adverse effect on the fair value of the investment, then the fair value is not estimated. If an investment is deemed to have experienced an other-than-temporary decline below its cost basis, we reduce the carrying amount of the investment to its quoted or estimated fair value, as applicable, and establish a new cost basis for the investment. For our AFS securities and our cost method investments, we record the impairment to investment income (loss), net. For our equity method investments, we record the impairment to other income (expense), net. |
Goodwill | Goodwill is calculated as the excess of the consideration transferred over the identifiable net assets acquired in a business combination and represents the future economic benefits expected to arise from anticipated synergies and intangible assets acquired that do not qualify for separate recognition, including assembled workforce, noncontractual relationships and other agreements. We assess the recoverability of our goodwill annually, or more frequently whenever events or substantive changes in circumstances indicate that the carrying amount of a reporting unit may exceed its fair value. We test goodwill for impairment at the reporting unit level. To determine our reporting units, we evaluate the components one level below the segment level and we aggregate the components if they have similar economic characteristics. As a result of this assessment, our reporting units are the same as our five reportable segments. We evaluate the determination of our reporting units used to test for impairment periodically or whenever events or substantive changes in circumstances occur. The assessment of recoverability may first consider qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. A quantitative assessment is performed if the qualitative assessment results in a more-likely-than-not determination or if a qualitative assessment is not performed. The quantitative assessment considers whether the carrying amount of a reporting unit exceeds its fair value, in which case an impairment charge is recorded to the extent the carrying amount of the reporting unit’s goodwill exceeds its implied fair value. Unless presented separately, the impairment charge is included as a component of amortization expense. |
Cost Method Investments | Cost Method We use the cost method to account for investments not accounted for under the fair value method or the equity method. |
Basis of Presentation | The accompanying consolidated financial statements include all entities in which we have a controlling voting interest and variable interest entities (“VIEs”) required to be consolidated in accordance with generally accepted accounting principles in the United States (“GAAP”). |
Foreign Currency Translation | We translate assets and liabilities of our foreign operations where the functional currency is the local currency, primarily the Japanese yen, euro and British pound, into U.S. dollars at the exchange rate as of the balance sheet date and translate revenue and expenses using average monthly exchange rates. The related translation adjustments are recorded as a component of accumulated other comprehensive income (loss) in our consolidated balance sheet. Any foreign currency transaction gains or losses are included in our consolidated statement of income. |
Use of Estimates | Our consolidated financial statements are prepared in accordance with GAAP, which require us to select accounting policies, including in certain cases industry-specific policies, and make estimates that affect the reported amount of assets, liabilities, revenue and expenses, and the related disclosure of contingent assets and contingent liabilities. Actual results could differ from these estimates. We believe that the judgments and related estimates for the following items are critical in the preparation of our consolidated financial statements: • valuation and impairment testing of cable franchise rights (see Note 9) • film and television costs (see Note 6) In addition, the following accounting policies are specific to the industries in which we operate: • capitalization and amortization of film and television costs (see Note 6) • installation revenue and costs for connecting customers to our cable systems (see revenue recognition below and Note 8) |
New Accounting Pronouncements | Revenue Recognition In May 2014, the Financial Accounting Standards Board (“FASB”) 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. The updated accounting guidance is effective for us as of January 1, 2018. We have reviewed a majority of our revenue arrangements and expect our review to be completed in the second quarter of 2017. As a result of our review, we do not expect any material impact on our consolidated financial statements. However, we do expect that the new standard will impact the timing of recognition for (1) our Cable Communications segment’s installation revenue and commission expenses, which upon adoption will be recognized as revenue and costs over a period of time instead of immediately, and (2) our Cable Networks, Broadcast Television and Filmed Entertainment segments’ content licensing revenue associated with renewals or extensions of existing program licensing agreements, which upon adoption will be recognized as revenue when the licensed content becomes available under the renewal or extension instead of when the agreement is renewed or extended. The guidance provides companies with alternative methods of adoption and we are in the process of determining our method of adoption, which depends in part upon our completion of the evaluation of our remaining revenue arrangements. Consolidations In February 2015, the FASB updated the accounting guidance related to consolidation under the variable interest entity and voting interest entity models. The updated accounting guidance modifies the consolidation guidance for VIEs, limited partnerships and similar legal entities. We have adopted this guidance as of January 1, 2016 and it did not have a material impact on our consolidated financial statements. Financial Assets and Financial Liabilities In January 2016, the FASB updated the accounting guidance related to the recognition and measurement of financial assets and financial liabilities. The updated accounting guidance, among other things, requires that all nonconsolidated equity investments, except those accounted for under the equity method, be measured at fair value and that the changes in fair value be recognized in net income. The updated guidance is effective for us as of January 1, 2018. The updated accounting guidance requires, with certain exceptions, a cumulative effect adjustment to beginning retained earnings when the guidance is adopted. We are currently in the process of determining the impact that the updated accounting guidance will have on our consolidated financial statements. Leases In February 2016, the FASB updated the accounting guidance related to leases. The updated accounting guidance requires lessees to recognize a right-of-use asset and a lease liability on the balance sheet for all leases with the exception of short-term leases. The asset and liability are initially measured based on the present value of committed lease payments. For a lessee, the recognition, measurement and presentation of expenses and cash flows arising from a lease do not significantly change from previous guidance. For a lessor, the accounting applied is also largely unchanged from previous guidance. The updated guidance is effective for us as of January 1, 2019 and early adoption is permitted. The updated accounting guidance must be adopted using a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. We are currently in the process of determining the impact that the updated accounting guidance will have on our consolidated financial statements. See Note 16 for a summary of our undiscounted minimum rental commitments under operating leases as of December 31, 2016. Share-Based Compensation In March 2016, the FASB updated the accounting guidance that affects several aspects of the accounting for share-based compensation. The most significant change for us relates to the presentation of the income and withholding tax consequences of share-based compensation in our consolidated financial statements. Among the changes, the updated guidance requires that the excess income tax benefits or deficiencies that arise when the tax consequences of share-based compensation differ from amounts previously recognized in the statement of income be recognized as income tax benefit or expense in the statement of income rather than as additional paid-in capital in the balance sheet. The guidance also states that excess income tax benefits should not be presented separately from other income taxes in the statement of cash flows and, thus, should be classified as an operating activity rather than a financing activity as they are under the current guidance. In addition, the updated guidance requires when an employer withholds shares upon exercise of options or the vesting of restricted stock for the purpose of meeting withholding tax requirements, that the cash paid for withholding taxes be classified as a financing activity. We currently record these amounts within operating activities. We will adopt the updated guidance in the first quarter of 2017. As required under the updated guidance, we will prospectively adopt the provisions of this guidance that relate to the recognition of the excess income tax benefits or deficiencies in the statement of income. If we had adopted the updated guidance in 2016, our income tax expense and effective tax rate would have decreased by $233 million and 1.6% , respectively, and our diluted earnings per common share attributable to Comcast Corporation shareholders in 2016 would have increased by $0.08 . In addition, upon adoption we will retrospectively adopt the provisions of this guidance related to changes to the statement of cash flows in any of the periods presented. The table below presents the effect on our consolidated statement of cash flows for each of the years ended December 31, 2016, 2015 and 2014. These amounts are not necessarily indicative of amounts that we will recognize in future years related to the excess income tax benefits or deficiencies nor the cash paid for withholding taxes. |
Revenue Recognition | Revenue Recognition Cable Communications Segment Our Cable Communications segment generates revenue primarily from subscriptions to our video, high-speed Internet and voice services (“cable services”) and from the sale of advertising. We recognize revenue from cable services as each service is provided. Customers are typically billed in advance on a monthly basis based on the services and features they receive and the type of equipment they use. Since installation revenue obtained from the connection of customers to our cable systems is less than the related direct selling costs, we recognize revenue as connections are completed. We manage credit risk by screening applicants through the use of internal customer information, identification verification tools and credit bureau data. If a customer’s account is delinquent, various measures are used to collect outstanding amounts, including termination of the customer’s cable services. As part of our distribution agreements with cable networks, we generally receive an allocation of scheduled advertising time on cable networks that we sell through our advertising business, Spotlight, to local, regional and national advertisers. We recognize advertising revenue when the advertising is aired or viewed. In most cases, the available advertising units are sold by our sales force. In some cases, we work with representation firms as an extension of our sales force to sell a portion of the advertising units allocated to us. We also represent the advertising sales efforts of other multichannel video providers in some markets. Since we are acting as the principal in these arrangements, we record the advertising that is sold in revenue and the fees paid to representation firms and multichannel video providers in other operating and administrative expenses. Revenue earned from other sources, such as our home security and automation services, is recognized when services are provided or events occur. Under the terms of our cable franchise agreements, we are generally required to pay to the cable franchising authority an amount based on our gross video revenue. We pass these fees through to our cable services customers and classify the fees as a component of revenue with the corresponding costs included in other operating and administrative expenses. Cable Networks and Broadcast Television Segments Our Cable Networks segment generates revenue primarily from the distribution of our cable network programming to multichannel video providers, from the sale of advertising on our cable networks and related digital media properties, from the licensing of our owned programming to cable and broadcast networks and subscription video on demand services, from the sale of our owned programming on standard-definition digital video discs and Blu-ray discs (together, “DVDs”) and through digital distribution services such as iTunes, and from the sale of programming by our cable television studio production operations to third-party networks and subscription video on demand services. Our Broadcast Television segment generates revenue primarily from the sale of advertising on our broadcast networks, owned local broadcast television stations and related digital media properties, from the licensing of our owned programming by our broadcast television studio production operations to various distribution platforms, including to cable and broadcast networks as well as to subscription video on demand services, from the fees received under retransmission consent agreements and associated fees received from NBC-affiliated local broadcast television stations, and from the sale of our owned programming on DVDs and through digital distribution services. We recognize revenue from distributors as programming is provided, generally under multiyear distribution agreements. From time to time, the distribution agreements expire while programming continues to be provided to the distributor based on interim arrangements while the parties negotiate new contract terms. Revenue recognition is generally limited to current payments being made by the distributor, typically under the prior contract terms, until a new contract is negotiated, sometimes with effective dates that affect prior periods. Differences between actual amounts determined upon resolution of negotiations and amounts recorded during these interim arrangements are recorded in the period of resolution. Advertising revenue for our Cable Networks and Broadcast Television segments is recognized in the period in which commercials are aired or viewed. In some instances, we guarantee audience ratings for the commercials. To the extent there is a shortfall in the ratings that were guaranteed, a portion of the revenue is deferred until the shortfall is settled, primarily by providing additional advertising units. We recognize revenue from the licensing of our owned programming and programming produced by our studios for third parties when the content is made available for use by the licensee, and when certain other conditions are met. When license fees include advertising time, we recognize the component of revenue associated with the advertisements when they are aired or viewed. Filmed Entertainment Segment Our Filmed Entertainment segment generates revenue primarily from the worldwide distribution of our produced and acquired films for exhibition in movie theaters, from the licensing of our owned and acquired films through various distribution platforms, and from the sale of our owned and acquired films on DVDs and through digital distribution services. Our Filmed Entertainment segment also generates revenue from producing and licensing live stage plays, from the distribution of filmed entertainment produced by third parties, and from Fandango, our movie ticketing and entertainment business. We recognize revenue from the distribution of films to movie theaters when the films are exhibited. We recognize revenue from the licensing of a film when the film is available for use by the licensee, and when certain other conditions are met. We recognize revenue from the sale of DVDs, net of estimated returns and customer incentives, on the date that the DVDs are delivered to and made available for sale by retailers. Theme Parks Segment Our Theme Parks segment generates revenue primarily from ticket sales and guest spending at our Universal theme parks. We recognize revenue from advance theme park ticket sales when the tickets are used. For annual passes, we recognize revenue on a straight-line basis over the period following the activation date. |
Cable Communications Programming Expenses | Cable Communications Programming Expenses Cable Communications programming expenses are the fees we pay to license the programming we distribute to our video customers. Programming is generally acquired under multiyear distribution agreements, with rates typically based on the number of customers that receive the programming, channel positioning and the extent of distribution. From time to time, these contracts expire and programming continues to be provided under interim arrangements while the parties negotiate new contract terms, sometimes with effective dates that affect prior periods. While payments are typically made under the prior contract’s terms, the amount of programming expenses recorded during the interim arrangement is based on our estimate of the ultimate contract terms expected to be negotiated. Differences between actual amounts determined upon resolution of negotiations and amounts recorded during these interim arrangements are recorded in the period of resolution. When our Cable Communications segment receives incentives from a cable network for the licensing of its programming, we defer a portion of these incentives, which are included in other current and noncurrent liabilities, and recognize them over the term of the contract as a reduction to programming expenses. |
Advertising Expenses | Advertising Expenses Advertising costs are expensed as incurred. |
Cash Equivalents | Cash Equivalents The carrying amounts of our cash equivalents approximate their fair values. Our cash equivalents consist primarily of money market funds and U.S. government obligations, as well as commercial paper and certificates of deposit with maturities of three months or less when purchased. |
Derivative Financial Instruments | Derivative Financial Instruments We use derivative financial instruments to manage our exposure to the risks associated with fluctuations in interest rates, foreign exchange rates and equity prices. Our objective is to manage the financial and operational exposure arising from these risks by offsetting gains and losses on the underlying exposures with gains and losses on the derivatives used to economically hedge them. Our derivative financial instruments are recorded in our consolidated balance sheet at fair value. The impact of our derivative financial instruments on our consolidated financial statements was not material in any of the periods presented. |
Fair Value Measurements | 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). The levels of the hierarchy are described below. • Level 1: Values are determined using quoted market prices for identical financial instruments in an active market • Level 2: Values are determined using quoted prices for similar financial instruments and valuation models whose inputs are observable • Level 3: Values are determined using pricing models that use significant inputs that are primarily unobservable, discounted cash flow methodologies or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation We use these levels of hierarchy for the measurement of fair value related to acquisitions, investments, long-term debt, redeemable subsidiary preferred stock and impairment testing, among others. Our assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation and classification within the fair value hierarchy. Our financial instruments that are accounted for at fair value on a recurring basis were not material as of December 31, 2016 and 2015. |
Asset Retirement Obligations | Asset Retirement Obligations Certain of our cable franchise agreements and lease agreements contain provisions requiring us to restore facilities or remove property in the event that the franchise or lease agreement is not renewed. We expect to continually renew our cable franchise agreements and therefore cannot reasonably estimate any liabilities associated with such agreements. A remote possibility exists that franchise agreements could be terminated unexpectedly, which could result in us incurring significant expense in complying with restoration or removal provisions. We do not have any significant liabilities related to asset retirements recorded in our consolidated financial statements. |
Film And Television Costs | Capitalization of Film and Television Costs We capitalize film and television production costs, including direct costs, production overhead, print costs, development costs and interest. We amortize capitalized film and television production costs, including acquired libraries, and accrue costs associated with participation and residual payments to programming and production expenses. We generally record the amortization and the accrued costs using the individual film forecast computation method, which amortizes the costs in the same ratio as the associated ultimate revenue. Estimates of ultimate revenue and total costs are based on anticipated release patterns, public acceptance and historical results for similar productions. Unamortized film and television costs, including acquired film and television libraries, are stated at the lower of unamortized cost or fair value. We do not capitalize costs related to the distribution of a film in movie theaters or the licensing or sale of a film or television production, which are primarily costs associated with the marketing and distribution of them. In determining the method of amortization and estimated life of an acquired film or television library, we generally use the method and the life that most closely follow the undiscounted cash flows over the estimated life of the asset. When an event or a change in circumstance occurs that was known or knowable as of the balance sheet date and that indicates the fair value of a film is less than its unamortized costs, we determine the fair value of the film and record an impairment charge for the amount by which the unamortized capitalized costs exceed the film’s fair value. The estimated fair value of a production is based on Level 3 inputs that primarily use an analysis of future expected cash flows. Adjustments to capitalized film and stage play production costs of $14 million , $42 million and $26 million were recorded in 2016 , 2015 and 2014 , respectively. We enter into cofinancing arrangements with third parties to jointly finance or distribute certain of our film productions. Cofinancing arrangements can take various forms, but in most cases involve the grant of an economic interest in a film to an investor. The number of investors and the terms of these arrangements can vary, although investors generally assume the full risks and rewards for the portion of the film acquired in these arrangements. We account for the proceeds received from a third-party investor under these arrangements as a reduction to our capitalized film costs. Under these arrangements, the investor owns an undivided copyright interest in the film, and therefore in each period we record either a charge or a benefit to programming and production expenses to reflect the estimate of the third-party investor’s interest in the profit or loss of the film. The estimate of the third-party investor’s interest in the profit or loss of a film is determined using the ratio of actual revenue earned to date to the ultimate revenue expected to be recognized over the film’s useful life. We capitalize the costs of programming content that we license but do not own, including rights to multiyear, live-event sports programming, at the earlier of when payments are made for the programming or when the license period begins and the content is made available for use. We amortize capitalized programming costs as the associated programs are broadcast. We generally amortize multiyear, live-event sports programming rights using the ratio of the current period revenue to the estimated ultimate revenue or under the terms of the contract. Acquired programming costs are recorded at the lower of unamortized cost or net realizable value on a program by program, package, channel or daypart basis. A daypart is an aggregation of programs broadcast during a particular time of day or programs of a similar type. Programming acquired by our Cable Networks segment is primarily tested on a channel basis for impairment, whereas programming acquired by our Broadcast Television segment is tested on a daypart basis. If we determine that the estimates of future cash flows are insufficient or if there is no plan to broadcast certain programming, we recognize an impairment charge to programming and production expenses. |
Investments | Fair Value Method We classify publicly traded investments that are not accounted for under the equity method as available-for-sale (“AFS”) or trading securities and record them at fair value. For AFS securities, we record unrealized gains or losses resulting from changes in fair value between measurement dates as a component of other comprehensive income (loss), except when we consider declines in value to be other than temporary. For trading securities, we record unrealized gains or losses resulting from changes in fair value between measurement dates as a component of investment income (loss), net. We recognize realized gains and losses associated with our fair value method investments using the specific identification method. We classify the cash flows related to purchases of and proceeds from the sale of trading securities based on the nature of the securities and the purpose for which they were acquired. Equity Method We use the equity method to account for investments in which we have the ability to exercise significant influence over the investee’s operating and financial policies or in which we hold a significant partnership or LLC interest. Equity method investments are recorded at cost and are adjusted to recognize (1) our proportionate share of the investee’s net income or loss after the date of investment, (2) amortization of the recorded investment that exceeds our share of the book value of the investee’s net assets, (3) additional contributions made and dividends received, and (4) impairments resulting from other-than-temporary declines in fair value. For some investments, we record our share of the investee’s net income or loss one quarter in arrears due to the timing of our receipt of such information. Gains or losses on the sale of equity method investments are recorded to other income (expense), net. If an equity method investee were to issue additional securities that would change our proportionate share of the entity, we would recognize the change, if any, as a gain or loss in our consolidated statement of income. |
Property and Equipment | Property and equipment are stated at cost. We capitalize improvements that extend asset lives and expense repairs and maintenance costs as incurred. We record depreciation using the straight-line method over the asset’s estimated useful life. For assets that are sold or retired, we remove the applicable cost and accumulated depreciation and, unless the gain or loss on disposition is presented separately, we recognize it as a component of depreciation expense. In accordance with the accounting guidance related to cable television companies, we capitalize the costs associated with the construction of and improvements to our cable transmission and distribution facilities, including scalable infrastructure and line extensions; costs associated with acquiring and deploying new customer premise equipment; and costs associated with installation of our services. Costs capitalized include all direct costs for labor and materials, as well as various indirect costs. Costs incurred in connection with subsequent disconnects and reconnects are expensed as they are incurred. We evaluate the recoverability of our property and equipment whenever events or substantive changes in circumstances indicate that the carrying amount may not be recoverable. The evaluation is based on the cash flows generated by the underlying asset groups, including estimated future operating results, trends or other determinants of fair value. If the total of the expected future undiscounted cash flows were less than the carrying amount of the asset group, we would recognize an impairment charge to the extent the carrying amount of the asset group exceeded its estimated fair value. Unless presented separately, the impairment charge is included as a component of depreciation expense. |
Indefinite-Lived Intangible Assets | Indefinite-Lived Intangible Assets Indefinite-lived intangible assets consist primarily of our cable franchise rights. Our cable franchise rights represent the values we attributed to agreements with state and local authorities that allow access to homes and businesses in cable service areas acquired in business combinations. We do not amortize our cable franchise rights because we have determined that they meet the definition of indefinite-lived intangible assets since there are no legal, regulatory, contractual, competitive, economic or other factors which limit the period over which these rights will contribute to our cash flows. We reassess this determination periodically or whenever events or substantive changes in circumstances occur. Costs we incur in negotiating and renewing cable franchise agreements are included in other intangible assets and are generally amortized on a straight-line basis over the term of the franchise agreement. We assess the recoverability of our cable franchise rights and other indefinite-lived intangible assets annually, or more frequently whenever events or substantive changes in circumstances indicate that the assets might be impaired. Our three Cable Communications divisions represent the unit of account we use to test for impairment of our cable franchise rights. We evaluate the unit of account used to test for impairment of our cable franchise rights and other indefinite-lived intangible assets periodically or whenever events or substantive changes in circumstances occur to ensure impairment testing is performed at an appropriate level. The assessment of recoverability may first consider qualitative factors to determine whether it is more likely than not that the fair value of an indefinite-lived intangible asset is less than its carrying amount. A quantitative assessment is performed if the qualitative assessment results in a more-likely-than-not determination or if a qualitative assessment is not performed. When performing a quantitative assessment, we estimate the fair value of our cable franchise rights and other indefinite-lived intangible assets primarily based on a discounted cash flow analysis that involves significant judgment. When analyzing the fair values indicated under the discounted cash flow models, we also consider multiples of operating income before depreciation and amortization generated by the underlying assets, current market transactions, and profitability information. If the fair value of our cable franchise rights or other indefinite-lived intangible assets was less than the carrying amount, we would recognize an impairment charge for the difference between the estimated fair value and the carrying value of the assets. Unless presented separately, the impairment charge is included as a component of amortization expense. We did not recognize any material impairment charges in any of the periods presented. |
Definite-Lived Intangible Assets | Finite-lived intangible assets are subject to amortization and consist primarily of customer relationships acquired in business combinations, software, cable franchise renewal costs, contractual operating rights and intellectual property rights. Our finite-lived intangible assets are amortized primarily on a straight-line basis over their estimated useful life or the term of the associated agreement. We capitalize direct development costs associated with internal-use software, including external direct costs of material and services and payroll costs for employees devoting time to these software projects. We also capitalize costs associated with the purchase of software licenses. We include these costs in other intangible assets and generally amortize them on a straight-line basis over a period not to exceed five years . We expense maintenance and training costs, as well as costs incurred during the preliminary stage of a project, as they are incurred. We capitalize initial operating system software costs and amortize them over the life of the associated hardware. We evaluate the recoverability of our finite-lived intangible assets whenever events or substantive changes in circumstances indicate that the carrying amount may not be recoverable. The evaluation is based on the cash flows generated by the underlying asset groups, including estimated future operating results, trends or other determinants of fair value. If the total of the expected future undiscounted cash flows were less than the carrying amount of the asset group, we would recognize an impairment charge to the extent the carrying amount of the asset group exceeded its estimated fair value. Unless presented separately, the impairment charge is included as a component of amortization expense. |
Share-Based Compensation | As of December 31, 2016 , substantially all of our stock options outstanding were net settled stock options. Net settled stock options, as opposed to stock options exercised with a cash payment, result in fewer shares being issued and no cash proceeds being received by us when the options are exercised. Our share-based compensation primarily consists of awards of RSUs and stock options to certain employees and directors as part of our approach to long-term incentive compensation. Awards generally vest over a period of 5 years and in the case of stock options, have a 10 year term. Additionally, through our employee stock purchase plans, employees are able to purchase shares of Comcast common stock at a discount through payroll deductions. The cost associated with our share-based compensation is based on an award’s estimated fair value at the date of grant and is recognized over the period in which any related services are provided. RSUs are valued based on the closing price of our common stock on the date of grant and are discounted for the lack of dividends, if any, during the vesting period. We use the Black-Scholes option pricing model to estimate the fair value of stock option awards. The table below presents the weighted-average fair value on the date of grant of RSUs and stock options awarded under our various plans and the related weighted-average valuation assumptions. |
Postretirement and Pension Benefits | All of our postretirement benefit plans are unfunded and substantially all of our postretirement benefit obligations are recorded to noncurrent liabilities. The expense we recognize for our postretirement benefit plans is determined using certain assumptions, including the discount rate. Pension Plans NBCUniversal sponsors various qualified and nonqualified defined benefit pension plans for domestic employees. Since the future benefits have been frozen since the beginning of 2013, we did not recognize service costs related to the pension plans for all periods presented. The benefits expense we recognized for our defined benefit plans was not material for all periods presented. In addition to the defined benefit plans it sponsors, NBCUniversal is also obligated to reimburse General Electric (“GE”) for future benefit payments to those participants who were vested in the supplemental pension plan sponsored by GE at the time of the NBCUniversal transaction in 2011. |
Income Taxes | We base our provision for income taxes on our current period income, changes in our deferred income tax assets and liabilities, income tax rates, changes in estimates of our uncertain tax positions, and tax planning opportunities available in the jurisdictions in which we operate. We recognize deferred tax assets and liabilities when there are temporary differences between the financial reporting basis and tax basis of our assets and liabilities and for the expected benefits of using net operating loss carryforwards. When a change in the tax rate or tax law has an impact on deferred taxes, we apply the change based on the years in which the temporary differences are expected to reverse. We record the change in our consolidated financial statements in the period of enactment. The determination of the income tax consequences of a business combination includes identifying the tax basis of assets and liabilities acquired and any contingencies associated with uncertain tax positions assumed or resulting from the business combination. Deferred tax assets and liabilities related to temporary differences of an acquired entity are recorded as of the date of the business combination and are based on our estimate of the ultimate tax basis that will be accepted by the various tax authorities. We record liabilities for contingencies associated with prior tax returns filed by the acquired entity based on criteria set forth in the appropriate accounting guidance. We adjust the deferred tax accounts and the liabilities periodically to reflect any revised estimated tax basis and any estimated settlements with the various tax authorities. The effects of these adjustments are recorded to income tax expense. From time to time, we engage in transactions in which the tax consequences may be subject to uncertainty. In these cases, we evaluate our tax position using the recognition threshold and the measurement attribute in accordance with the accounting guidance related to uncertain tax positions. Examples of these transactions include business acquisitions and dispositions, including consideration paid or received in connection with these transactions, certain financing transactions, and the allocation of income among state and local tax jurisdictions. Significant judgment is required in assessing and estimating the tax consequences of these transactions. We determine whether it is more likely than not that a tax position will be sustained on examination, including the resolution of any related appeals or litigation processes, based on the technical merits of the position. A tax position that meets the more-likely-than-not recognition threshold is measured to determine the amount of benefit to be recognized in our consolidated financial statements. We classify interest and penalties, if any, associated with our uncertain tax positions as a component of income tax expense. |
Earnings Per Share | 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”). Diluted EPS excludes the impact of potential common shares related to our stock options in periods in which the combination of the option exercise price and the associated unrecognized compensation expense is greater than the average market price of our common stock. |
NBCUniversal Media LLC [Member] | |
Accounting Policies [Line Items] | |
Impairment Testing of Investments | Impairment Testing of Investments We review our investment portfolio each reporting period to determine whether there are identified events or circumstances that would indicate there is a decline in the fair value that would be considered other than temporary. For our nonpublic investments, if there are no identified events or circumstances that would have a significant adverse effect on the fair value of the investment, then the fair value is not estimated. If an investment is deemed to have experienced an other-than-temporary decline below its cost basis, we reduce the carrying amount of the investment to its quoted or estimated fair value, as applicable, and establish a new cost basis for the investment. For our available-for-sale securities and our cost method investments, we record the impairment to investment income (loss), net. For our equity method investments, we record the impairment to other income (expense), net. |
Goodwill | Goodwill is calculated as the excess of the consideration transferred over the identifiable net assets acquired in a business combination and represents the future economic benefits expected to arise from anticipated synergies and intangible assets acquired that do not qualify for separate recognition, including assembled workforce, noncontractual relationships and other agreements. We assess the recoverability of our goodwill annually, or more frequently whenever events or substantive changes in circumstances indicate that the carrying amount of a reporting unit may exceed its fair value. We test goodwill for impairment at the reporting unit level. To determine our reporting units, we evaluate the components one level below the segment level and we aggregate the components if they have similar economic characteristics. As a result of this assessment, our reporting units are the same as our four reportable segments. We evaluate the determination of our reporting units used to test for impairment periodically or whenever events or substantive changes in circumstances occur. The assessment of recoverability may first consider qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. A quantitative assessment is performed if the qualitative assessment results in a more-likely-than-not determination or if a qualitative assessment is not performed. The quantitative assessment considers whether the carrying amount of a reporting unit exceeds its fair value, in which case an impairment charge is recorded to the extent the carrying amount of the reporting unit’s goodwill exceeds its implied fair value. Unless presented separately, the impairment charge is included as a component of amortization expense. |
Cost Method Investments | Cost Method We use the cost method to account for investments not accounted for under the fair value method or the equity method. |
Basis of Presentation | Basis of Presentation The accompanying consolidated financial statements include all entities in which we have a controlling voting interest and variable interest entities (“VIEs”) required to be consolidated in accordance with generally accepted accounting principles in the United States (“GAAP”). Transactions between NBCUniversal and both Comcast and Comcast’s consolidated subsidiaries are reflected in these consolidated financial statements and disclosed as related party transactions when material. |
Foreign Currency Translation | We translate assets and liabilities of our foreign operations where the functional currency is the local currency, primarily the Japanese yen, euro and British pound, into U.S. dollars at the exchange rate as of the balance sheet date and translate revenue and expenses using average monthly exchange rates. The related translation adjustments are recorded as a component of accumulated other comprehensive income (loss) in our consolidated balance sheet. Any foreign currency transaction gains or losses are included in our consolidated statement of income. |
Use of Estimates | Our consolidated financial statements are prepared in accordance with GAAP, which require us to select accounting policies, including in certain cases industry-specific policies, and make estimates that affect the reported amount of assets, liabilities, revenue and expenses, and the related disclosure of contingent assets and contingent liabilities. Actual results could differ from these estimates. We believe that the judgments and related estimates for the following items are critical in the preparation of our consolidated financial statements: • revenue recognition (see below) • film and television costs (see Note 6) • goodwill and intangible assets (see Note 9) In addition, the following accounting policy is specific to the industries in which we operate: • capitalization and amortization of film and television costs (see Note 6) Information on our other accounting policies and methods that are used in the preparation of our consolidated financial statements are included, where applicable, in their respective footnotes that follow. Below is a discussion of accounting policies and methods used in our consolidated financial statements that are not presented within other footnotes. |
New Accounting Pronouncements | Revenue Recognition In May 2014, the Financial Accounting Standards Board (“FASB”) 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. The updated accounting guidance is effective for us as of January 1, 2018. We have reviewed a majority of our revenue arrangements and expect our review to be completed in the second quarter of 2017. As a result of our review, we do not expect any material impact on our consolidated financial statements. However, we do expect that the new standard will impact the timing of recognition for our Cable Networks, Broadcast Television and Filmed Entertainment segments’ content licensing revenue associated with renewals or extensions of existing program licensing agreements, which upon adoption will be recognized as revenue when the licensed content becomes available under the renewal or extension instead of when the agreement is renewed or extended. The guidance provides companies with alternative methods of adoption and we are in the process of determining our method of adoption, which depends in part upon our completion of the evaluation of our remaining revenue arrangements. Consolidations In February 2015, the FASB updated the accounting guidance related to consolidation under the variable interest entity and voting interest entity models. The updated accounting guidance modifies the consolidation guidance for VIEs, limited partnerships and similar legal entities. We have adopted this guidance as of January 1, 2016 and it did not have a material impact on our consolidated financial statements. Financial Assets and Financial Liabilities In January 2016, the FASB updated the accounting guidance related to the recognition and measurement of financial assets and financial liabilities. The updated accounting guidance, among other things, requires that all nonconsolidated equity investments, except those accounted for under the equity method, be measured at fair value and that the changes in fair value be recognized in net income. The updated guidance is effective for us as of January 1, 2018. The updated accounting guidance requires, with certain exceptions, a cumulative effect adjustment to beginning retained earnings when the guidance is adopted. We are currently in the process of determining the impact that the updated accounting guidance will have on our consolidated financial statements. Leases In February 2016, the FASB updated the accounting guidance related to leases. The updated accounting guidance requires lessees to recognize a right-of-use asset and a lease liability on the balance sheet for all leases with the exception of short-term leases. The asset and liability are initially measured based on the present value of committed lease payments. For a lessee, the recognition, measurement and presentation of expenses and cash flows arising from a lease do not significantly change from previous guidance. For a lessor, the accounting applied is also largely unchanged from previous guidance. The updated guidance is effective for us as of January 1, 2019 and early adoption is permitted. The updated accounting guidance must be adopted using a modified retrospective approach for leases that exist or are entered into after the beginning of the earliest comparative period in the financial statements. We are currently in the process of determining the impact that the updated accounting guidance will have on our consolidated financial statements. See Note 15 for a summary of our undiscounted minimum rental commitments under operating leases as of December 31, 2016. Share-Based Compensation In March 2016, the FASB updated the accounting guidance that affects several aspects of the accounting for share-based compensation. Among the changes, the updated guidance requires that the excess income tax benefits or deficiencies that arise when the tax consequences of share-based compensation differ from amounts previously recognized in the statement of income be recognized as income tax benefit or expense in the statement of income rather than as additional paid-in capital in the balance sheet. The guidance also states that excess income tax benefits should not be presented separately from other income taxes in the statement of cash flows and, thus, should be classified as an operating activity rather than a financing activity as they are under the current guidance. In addition, the updated guidance requires when an employer withholds shares upon exercise of options or the vesting of restricted stock for the purpose of meeting withholding tax requirements, that the cash paid for withholding taxes be classified as a financing activity. We will adopt the updated guidance in the first quarter of 2017. As a limited liability company, the updated guidance related to the excess income tax benefits or deficiencies to be recognized in the statement of income will not have a material impact on our consolidated financial statements. In addition, as the share-based compensation expense is settled in cash with Comcast, we do not expect the updated accounting guidance to have a material impact on our statement of cash flows. |
Revenue Recognition | Revenue Recognition Cable Networks and Broadcast Television Segments Our Cable Networks segment generates revenue primarily from the distribution of our cable network programming to multichannel video providers, from the sale of advertising on our cable networks and related digital media properties, from the licensing of our owned programming to cable and broadcast networks and subscription video on demand services, from the sale of our owned programming on standard-definition digital video discs and Blu-ray discs (together, “DVDs”) and through digital distribution services such as iTunes, and from the sale of programming by our cable television studio production operations to third-party networks and subscription video on demand services. Our Broadcast Television segment generates revenue primarily from the sale of advertising on our broadcast networks, owned local broadcast television stations and related digital media properties, from the licensing of our owned programming by our broadcast television studio production operations to various distribution platforms, including to cable and broadcast networks as well as to subscription video on demand services, from the fees received under retransmission consent agreements and associated fees received from NBC-affiliated local broadcast television stations, and from the sale of our owned programming on DVDs and through digital distribution services. We recognize revenue from distributors as programming is provided, generally under multiyear distribution agreements. From time to time, the distribution agreements expire while programming continues to be provided to the distributor based on interim arrangements while the parties negotiate new contract terms. Revenue recognition is generally limited to current payments being made by the distributor, typically under the prior contract terms, until a new contract is negotiated, sometimes with effective dates that affect prior periods. Differences between actual amounts determined upon resolution of negotiations and amounts recorded during these interim arrangements are recorded in the period of resolution. Advertising revenue for our Cable Networks and Broadcast Television segments is recognized in the period in which commercials are aired or viewed. In some instances, we guarantee audience ratings for the commercials. To the extent there is a shortfall in the ratings that were guaranteed, a portion of the revenue is deferred until the shortfall is settled, primarily by providing additional advertising units. We recognize revenue from the licensing of our owned programming and programming produced by our studios for third parties when the content is made available for use by the licensee, and when certain other conditions are met. When license fees include advertising time, we recognize the component of revenue associated with the advertisements when they are aired or viewed. Filmed Entertainment Segment Our Filmed Entertainment segment generates revenue primarily from the worldwide distribution of our produced and acquired films for exhibition in movie theaters, from the licensing of our owned and acquired films through various distribution platforms, and from the sale of our owned and acquired films on DVDs and through digital distribution services. Our Filmed Entertainment segment also generates revenue from producing and licensing live stage plays, from the distribution of filmed entertainment produced by third parties, and from Fandango, our movie ticketing and entertainment business. We recognize revenue from the distribution of films to movie theaters when the films are exhibited. We recognize revenue from the licensing of a film when the film is available for use by the licensee, and when certain other conditions are met. We recognize revenue from the sale of DVDs, net of estimated returns and customer incentives, on the date that the DVDs are delivered to and made available for sale by retailers. Theme Parks Segment Our Theme Parks segment generates revenue primarily from ticket sales and guest spending at our Universal theme parks. We recognize revenue from advance theme park ticket sales when the tickets are used. For annual passes, we recognize revenue on a straight-line basis over the period following the activation date. |
Advertising Expenses | Advertising Expenses Advertising costs are expensed as incurred. |
Cash Equivalents | Cash Equivalents The carrying amounts of our cash equivalents approximate their fair values. Our cash equivalents consist primarily of money market funds and U.S. government obligations, as well as commercial paper and certificates of deposit with maturities of three months or less when purchased. |
Derivative Financial Instruments | Derivative Financial Instruments We use derivative financial instruments to manage our exposure to the risks associated with fluctuations in foreign exchange rates and interest rates. Our objective is to manage the financial and operational exposure arising from these risks by offsetting gains and losses on the underlying exposures with gains and losses on the derivatives used to economically hedge them. Our derivative financial instruments are recorded in our consolidated balance sheet at fair value. The impact of our derivative financial instruments on our consolidated financial statements was not material for all periods presented. |
Fair Value Measurements | 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). The levels of the hierarchy are described below. • Level 1: Values are determined using quoted market prices for identical financial instruments in an active market • Level 2: Values are determined using quoted prices for similar financial instruments and valuation models whose inputs are observable • Level 3: Values are determined using pricing models that use significant inputs that are primarily unobservable, discounted cash flow methodologies or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation We use these levels of hierarchy for the measurement of fair value related to acquisitions, investments, long-term debt and impairment testing, among others. Our assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation and classification within the fair value hierarchy. Our financial instruments that are accounted for at fair value on a recurring basis were not material as of December 31, 2016 and 2015. |
Film And Television Costs | Capitalization of Film and Television Costs We capitalize film and television production costs, including direct costs, production overhead, print costs, development costs and interest. We amortize capitalized film and television production costs, including acquired libraries, and accrue costs associated with participation and residual payments to programming and production expenses. We generally record the amortization and the accrued costs using the individual film forecast computation method, which amortizes the costs in the same ratio as the associated ultimate revenue. Estimates of ultimate revenue and total costs are based on anticipated release patterns, public acceptance and historical results for similar productions. Unamortized film and television costs, including acquired film and television libraries, are stated at the lower of unamortized cost or fair value. We do not capitalize costs related to the distribution of a film in movie theaters or the licensing or sale of a film or television production, which are primarily costs associated with the marketing and distribution of them. In determining the method of amortization and estimated life of an acquired film or television library, we generally use the method and the life that most closely follow the undiscounted cash flows over the estimated life of the asset. When an event or a change in circumstance occurs that was known or knowable as of the balance sheet date and that indicates the fair value of a film is less than its unamortized costs, we determine the fair value of the film and record an impairment charge for the amount by which the unamortized capitalized costs exceed the film’s fair value. The estimated fair value of a production is based on Level 3 inputs that primarily use an analysis of future expected cash flows. Adjustments to capitalized film and stage play production costs of $14 million , $42 million and $26 million were recorded in 2016 , 2015 and 2014 , respectively. We enter into cofinancing arrangements with third parties to jointly finance or distribute certain of our film productions. Cofinancing arrangements can take various forms, but in most cases involve the grant of an economic interest in a film to an investor. The number of investors and the terms of these arrangements can vary, although investors generally assume the full risks and rewards for the portion of the film acquired in these arrangements. We account for the proceeds received from a third-party investor under these arrangements as a reduction to our capitalized film costs. Under these arrangements, the investor owns an undivided copyright interest in the film, and therefore in each period we record either a charge or a benefit to programming and production expenses to reflect the estimate of the third-party investor’s interest in the profit or loss of the film. The estimate of the third-party investor’s interest in the profit or loss of a film is determined using the ratio of actual revenue earned to date to the ultimate revenue expected to be recognized over the film’s useful life. We capitalize the costs of programming content that we license but do not own, including rights to multiyear, live-event sports programming, at the earlier of when payments are made for the programming or when the license period begins and the content is made available for use. We amortize capitalized programming costs as the associated programs are broadcast. We generally amortize multiyear, live-event sports programming rights using the ratio of the current period revenue to the estimated ultimate revenue or under the terms of the contract. Acquired programming costs are recorded at the lower of unamortized cost or net realizable value on a program by program, package, channel or daypart basis. A daypart is an aggregation of programs broadcast during a particular time of day or programs of a similar type. Programming acquired by our Cable Networks segment is primarily tested on a channel basis for impairment, whereas programming acquired by our Broadcast Television segment is tested on a daypart basis. If we determine that the estimates of future cash flows are insufficient or if there is no plan to broadcast certain programming, we recognize an impairment charge to programming and production expenses. |
Investments | Equity Method We use the equity method to account for investments in which we have the ability to exercise significant influence over the investee’s operating and financial policies or in which we hold a significant partnership or LLC interest. Equity method investments are recorded at cost and are adjusted to recognize (1) our proportionate share of the investee’s net income or loss after the date of investment, (2) amortization of the recorded investment that exceeds our share of the book value of the investee’s net assets, (3) additional contributions made and dividends received, and (4) impairments resulting from other-than-temporary declines in fair value. For some investments, we record our share of the investee’s net income or loss one quarter in arrears due to the timing of our receipt of such information. Gains or losses on the sale of equity method investments are recorded to other income (expense), net. If an equity method investee were to issue additional securities that would change our proportionate share of the entity, we would recognize the change, if any, as a gain or loss in our consolidated statement of income. |
Property and Equipment | Property and equipment are stated at cost. We capitalize improvements that extend asset lives and expense repairs and maintenance costs as incurred. We record depreciation using the straight-line method over the asset’s estimated useful life. For assets that are sold or retired, we remove the applicable cost and accumulated depreciation and, unless the gain or loss on disposition is presented separately, we recognize it as a component of depreciation expense. We evaluate the recoverability of our property and equipment whenever events or substantive changes in circumstances indicate that the carrying amount may not be recoverable. The evaluation is based on the cash flows generated by the underlying asset groups, including estimated future operating results, trends or other determinants of fair value. If the total of the expected future undiscounted cash flows were less than the carrying amount of the asset group, we would recognize an impairment charge to the extent the carrying amount of the asset group exceeded its estimated fair value. Unless presented separately, the impairment charge is included as a component of depreciation expense. |
Indefinite-Lived Intangible Assets | Indefinite-Lived Intangible Assets Indefinite-lived intangible assets consist of trade names and FCC licenses. We assess the recoverability of our indefinite-lived intangible assets annually, or more frequently whenever events or substantive changes in circumstances indicate that the assets might be impaired. We evaluate the unit of account used to test for impairment of our indefinite-lived intangible assets periodically or whenever events or substantive changes in circumstances occur to ensure impairment testing is performed at an appropriate level. The assessment of recoverability may first consider qualitative factors to determine whether it is more likely than not that the fair value of an indefinite-lived intangible asset is less than its carrying amount. A quantitative assessment is performed if the qualitative assessment results in a more-likely-than-not determination or if a qualitative assessment is not performed. When performing a quantitative assessment, we estimate the fair value of our indefinite-lived intangible assets primarily based on a discounted cash flow analysis that involves significant judgment. When analyzing the fair values indicated under the discounted cash flow models, we also consider multiples of operating income before depreciation and amortization generated by the underlying assets, current market transactions, and profitability information. If the fair value of our indefinite-lived intangible assets was less than the carrying amount, we would recognize an impairment charge for the difference between the estimated fair value and the carrying value of the assets. Unless presented separately, the impairment charge is included as a component of amortization expense. We did not recognize any material impairment charges in any of the periods presented. |
Definite-Lived Intangible Assets | Finite-lived intangible assets are subject to amortization and consist primarily of customer relationships acquired in business combinations, intellectual property rights and software. Our finite-lived intangible assets are amortized primarily on a straight-line basis over their estimated useful life or the term of the associated agreement. We capitalize direct development costs associated with internal-use software, including external direct costs of material and services and payroll costs for employees devoting time to these software projects. We also capitalize costs associated with the purchase of software licenses. We include these costs in intangible assets and generally amortize them on a straight-line basis over a period not to exceed five years . We expense maintenance and training costs, as well as costs incurred during the preliminary stage of a project, as they are incurred. We capitalize initial operating system software costs and amortize them over the life of the associated hardware. We evaluate the recoverability of our finite-lived intangible assets whenever events or substantive changes in circumstances indicate that the carrying amount may not be recoverable. The evaluation is based on the cash flows generated by the underlying asset groups, including estimated future operating results, trends or other determinants of fair value. If the total of the expected future undiscounted cash flows were less than the carrying amount of the asset group, we would recognize an impairment charge to the extent the carrying amount of the asset group exceeded its estimated fair value. Unless presented separately, the impairment charge is included as a component of amortization expense. |
Share-Based Compensation | Comcast maintains share-based compensation plans that primarily consist of awards of RSUs and stock options to certain employees and directors as part of its approach to long-term incentive compensation. Awards generally vest over a period of 5 years and in the case of stock options, have a 10 year term. Additionally, through its employee stock purchase plans, employees are able to purchase shares of Comcast common stock at a discount through payroll deductions. Certain of our employees participate in these plans and the expense associated with their participation is settled in cash with Comcast. The cost associated with Comcast’s share-based compensation is based on an award’s estimated fair value at the date of grant and is recognized over the period in which any related services are provided. RSUs are valued based on the closing price of Comcast common stock on the date of grant and are discounted for the lack of dividends, if any, during the vesting period. Comcast uses the Black-Scholes option pricing model to estimate the fair value of stock option awards. The table below presents the weighted-average fair value on the date of grant of RSUs and stock options awarded under Comcast’s various plans to employees of NBCUniversal and the related weighted-average valuation assumptions. |
Postretirement and Pension Benefits | All of our postretirement benefit plans are unfunded and substantially all of our postretirement benefit obligations are recorded to noncurrent liabilities. The expense we recognize for our postretirement benefit plans is determined using certain assumptions, including the discount rate. Pension Plans We sponsor various qualified and nonqualified defined benefit pension plans for domestic employees. Since the future benefits have been frozen since the beginning of 2013, we did not recognize service costs related to our pension plans for all periods presented. The benefits expense we recognized for our defined benefit plans was not material for all periods presented. In addition to the defined benefit plans we sponsor, we are also obligated to reimburse General Electric (“GE”) for future benefit payments to those participants who were vested in the supplemental pension plan sponsored by GE at the time of the joint venture transaction. |
Recent Accounting Pronounceme31
Recent Accounting Pronouncements (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Changes and Error Corrections [Abstract] | |
Schedule of changes related to adoption of new accounting pronouncement | The table below presents the effect on our consolidated statement of cash flows for each of the years ended December 31, 2016, 2015 and 2014. These amounts are not necessarily indicative of amounts that we will recognize in future years related to the excess income tax benefits or deficiencies nor the cash paid for withholding taxes. Year ended December 31 (in millions) As Reported Effect of Adoption Upon Adoption 2016 Net cash provided by operating activities $ 19,240 $ 585 $ 19,825 Net cash provided by (used in) financing activities $ 151 $ (585 ) $ (434 ) 2015 Net cash provided by operating activities $ 18,778 $ 708 $ 19,486 Net cash provided by (used in) financing activities $ (8,429 ) $ (708 ) $ (9,137 ) 2014 Net cash provided by operating activities $ 16,945 $ 652 $ 17,597 Net cash provided by (used in) financing activities $ (6,020 ) $ (652 ) $ (6,672 ) |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Computation of diluted EPS | Computation of Diluted EPS 2016 2015 2014 Year ended December 31 Net Income Shares Per Share Net Income Shares Per Share Net Income Shares Per Share Basic EPS attributable to Comcast Corporation shareholders $ 8,695 2,410 $ 3.61 $ 8,163 2,486 $ 3.28 $ 8,380 2,583 $ 3.24 Effect of dilutive securities: Assumed exercise or issuance of shares relating to stock plans 28 32 37 Diluted EPS attributable to Comcast Corporation shareholders $ 8,695 2,438 $ 3.57 $ 8,163 2,518 $ 3.24 $ 8,380 2,620 $ 3.20 |
Significant Transactions (Table
Significant Transactions (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Business Acquisition [Line Items] | |
Unaudited Pro Forma Information | Year ended December 31 (in millions, except per share amounts) 2015 2014 Revenue $ 75,563 $ 69,860 Net income $ 8,591 $ 8,704 Net income attributable to Comcast Corporation $ 8,253 $ 8,435 Basic earnings per common share attributable to Comcast Corporation shareholders $ 3.32 $ 3.27 Diluted earnings per common share attributable to Comcast Corporation shareholders $ 3.28 $ 3.22 |
NBCUniversal Media LLC [Member] | |
Business Acquisition [Line Items] | |
Unaudited Pro Forma Information | Year ended December 31 (in millions) 2015 2014 Revenue $ 29,514 $ 26,513 Net income $ 3,801 $ 3,409 Net income attributable to NBCUniversal $ 3,503 $ 3,170 |
DreamWorks Animation [Member] | |
Business Acquisition [Line Items] | |
Schedule of Business Acquisitions, by Acquisition | Preliminary Allocation of Purchase Price (in millions) Film and television costs (see Note 6) $ 854 Intangible assets (see Note 9) 164 Working capital 248 Debt (see Note 10) (381 ) Tax receivable agreement (146 ) Deferred income taxes (see Note 14) 366 Other noncurrent assets and liabilities 137 Identifiable net assets (liabilities) acquired 1,242 Noncontrolling interest (89 ) Goodwill (see Note 9) 2,620 Cash consideration transferred $ 3,773 |
DreamWorks Animation [Member] | NBCUniversal Media LLC [Member] | |
Business Acquisition [Line Items] | |
Schedule of Business Acquisitions, by Acquisition | Preliminary Allocation of Purchase Price (in millions) Film and television costs (see Note 6) $ 854 Intangible assets (see Note 9) 164 Working capital 248 Debt (see Note 10) (381 ) Tax receivable agreement (a) (146 ) Other noncurrent assets and liabilities and other (b) 503 Identifiable net assets (liabilities) acquired 1,242 Noncontrolling interest (89 ) Goodwill (see Note 9) 2,620 Cash consideration transferred by Comcast $ 3,773 (a) The tax receivable agreement was settled immediately following the acquisition and the payment was recorded as an operating activity in our consolidated statement of cash flows. Comcast made a separate cash capital contribution of $146 million to fund the settlement which was recorded as a financing activity in our consolidated statement of cash flows. (b) Other included $353 million recorded to member’s capital that represented deferred income tax assets and other tax-related items recorded by Comcast but excluded from the net assets contributed to us. |
Universal Studios Japan [Member] | |
Business Acquisition [Line Items] | |
Schedule of Business Acquisitions, by Acquisition | Allocation of Purchase Price (in millions) Property and equipment (see Note 8) $ 780 Intangible assets (see Note 9) 323 Working capital (33 ) Debt (see Note 10) (3,271 ) Other noncurrent assets and liabilities 17 Identifiable net assets (liabilities) acquired (2,184 ) Noncontrolling interest (1,440 ) Goodwill (see Note 9) 5,123 Cash consideration transferred $ 1,499 |
Universal Studios Japan [Member] | NBCUniversal Media LLC [Member] | |
Business Acquisition [Line Items] | |
Schedule of Business Acquisitions, by Acquisition | Allocation of Purchase Price (in millions) Property and equipment (see Note 8) $ 780 Intangible assets (see Note 9) 323 Working capital (33 ) Debt (see Note 10) (3,271 ) Other noncurrent assets and liabilities and other 17 Identifiable net assets (liabilities) acquired (2,184 ) Noncontrolling interest (1,440 ) Goodwill (see Note 9) 5,123 Cash consideration transferred $ 1,499 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
NBCUniversal Media LLC [Member] | |
Related Party Transaction [Line Items] | |
Related Party Transactions Condensed Financial Statements | The following tables present transactions with Comcast and its consolidated subsidiaries that are included in our consolidated financial statements. Consolidated Balance Sheet December 31 (in millions) 2016 2015 Transactions with Comcast and Consolidated Subsidiaries Receivables, net $ 285 $ 239 Accounts payable and accrued expenses related to trade creditors $ 55 $ 68 Accrued expenses and other current liabilities $ 4 $ 51 Note payable to Comcast $ 2,703 $ 1,750 Other noncurrent liabilities $ 389 $ 383 Consolidated Statement of Income Year ended December 31 (in millions) 2016 2015 2014 Transactions with Comcast and Consolidated Subsidiaries Revenue $ 1,742 $ 1,349 $ 1,315 Operating costs and expenses $ (220 ) $ (246 ) $ (162 ) Other income (expense) $ (69 ) $ (37 ) $ (43 ) |
Film and Television Costs (Tabl
Film and Television Costs (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Film And Television Cost [Line Items] | |
Film and Television Costs | December 31 (in millions) 2016 2015 Film Costs: Released, less amortization $ 1,750 $ 1,275 Completed, not released 50 226 In production and in development 1,310 907 3,110 2,408 Television Costs: Released, less amortization 1,953 1,573 In production and in development 853 737 2,806 2,310 Programming rights, less amortization 2,586 2,350 8,502 7,068 Less: Current portion of programming rights 1,250 1,213 Film and television costs $ 7,252 $ 5,855 |
NBCUniversal Media LLC [Member] | |
Film And Television Cost [Line Items] | |
Film and Television Costs | December 31 (in millions) 2016 2015 Film Costs: Released, less amortization $ 1,750 $ 1,275 Completed, not released 50 226 In production and in development 1,310 907 3,110 2,408 Television Costs: Released, less amortization 1,953 1,573 In production and in development 853 737 2,806 2,310 Programming rights, less amortization 2,570 2,329 8,486 7,047 Less: Current portion of programming rights 1,241 1,200 Film and television costs $ 7,245 $ 5,847 |
Investments (Tables)
Investments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Fair Value, Equity And Cost Method Investments [Line Items] | |
Investment Summary | December 31 (in millions) 2016 2015 Fair Value Method $ 198 $ 167 Equity Method: Atairos 1,601 — Hulu 225 184 Other 550 494 2,376 678 Cost Method: AirTouch 1,599 1,583 BuzzFeed 400 200 Other 771 702 2,770 2,485 Total investments 5,344 3,330 Less: Current investments 97 106 Noncurrent investments $ 5,247 $ 3,224 |
Investment Income (Loss), Net | Investment Income (Loss), Net Year ended December 31 (in millions) 2016 2015 2014 Gains on sales and exchanges of investments, net $ 46 $ 12 $ 192 Investment impairment losses (34 ) (59 ) (50 ) Unrealized gains on securities underlying prepaid forward sale agreements — 42 66 Mark to market adjustments on derivative component of prepaid forward sale agreements and indexed debt instruments (4 ) (42 ) (56 ) Interest and dividend income 123 115 116 Other, net 82 13 28 Investment income (loss), net $ 213 $ 81 $ 296 |
NBCUniversal Media LLC [Member] | |
Fair Value, Equity And Cost Method Investments [Line Items] | |
Investment Summary | December 31 (in millions) 2016 2015 Fair Value Method $ 6 $ 10 Equity Method: Hulu 225 184 Other 336 313 561 497 Cost Method: BuzzFeed 400 200 Other 296 258 696 458 Total investments $ 1,263 $ 965 |
Summarized Financial Information | The tables below present the summarized combined financial information of our equity method investments. December 31 (in millions) 2016 2015 Current assets $ 2,105 $ 1,904 Noncurrent assets $ 2,724 $ 3,584 Current liabilities $ 1,921 $ 1,225 Noncurrent liabilities $ 2,853 $ 4,879 Year ended December 31 (in millions) 2016 2015 2014 Revenue $ 4,285 $ 3,944 $ 3,756 Operating income (loss) $ (182 ) $ (1,609 ) $ 483 Net income (loss) $ (313 ) $ (1,820 ) $ 243 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Line Items] | |
Property and Equipment | December 31 (in millions) Weighted-Average 2016 2015 Cable distribution system 11 years $ 34,028 $ 32,586 Customer premise equipment 6 years 28,621 28,559 Other equipment 8 years 9,475 8,539 Buildings and leasehold improvements 29 years 12,550 10,829 Land N/A 1,273 1,252 Property and equipment, at cost 85,947 81,765 Less: Accumulated depreciation 49,694 48,100 Property and equipment, net $ 36,253 $ 33,665 |
NBCUniversal Media LLC [Member] | |
Property, Plant and Equipment [Line Items] | |
Property and Equipment | December 31 (in millions) Weighted-Average 2016 2015 Buildings and leasehold improvements 30 years $ 7,543 $ 6,543 Furniture, fixtures and equipment 11 years 4,158 3,457 Construction in process N/A 1,176 1,339 Land N/A 984 961 Property and equipment, at cost 13,861 12,300 Less: Accumulated depreciation 3,350 2,779 Property and equipment, net $ 10,511 $ 9,521 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill And Intangible Assets [Line Items] | |
Schedule of Goodwill | Goodwill NBCUniversal (in millions) Cable Cable Broadcast Filmed Theme Corporate Total Balance, December 31, 2014 $ 12,217 $ 12,948 $ 767 $ 211 $ 982 $ 191 $ 27,316 Acquisitions (a) 173 17 39 58 5,373 1 5,661 Adjustments (1 ) — — — — — (1 ) Foreign currency translation — (18 ) — (2 ) (11 ) — (31 ) Balance, December 31, 2015 12,389 12,947 806 267 6,344 192 32,945 Acquisitions (b) 82 232 — 2,717 — 1 3,032 Adjustments (c) 174 — — — (250 ) (181 ) (257 ) Foreign currency translation — 4 — 9 247 — 260 Balance, December 31, 2016 $ 12,645 $ 13,183 $ 806 $ 2,993 $ 6,341 $ 12 $ 35,980 (a) Acquisitions in 2015 in our Theme Parks segment included the Universal Studios Japan transaction (see Note 5 for additional information). (b) Acquisitions in 2016 in our Filmed Entertainment segment primarily included the DreamWorks Animation acquisition (see Note 5 for additional information). (c) Adjustments in 2016 primarily included the updated allocation of the purchase price for Universal Studios Japan in our Theme Parks segment (see Note 5 for additional information) and the reclassification of certain operations and businesses from Corporate and Other to our Cable Communications segment. |
Other Intangible Assets | Intangible Assets 2016 2015 December 31 (in millions) Weighted-Average Original Useful Life as of December 31, 2016 Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Indefinite-Lived Intangible Assets: Franchise rights N/A $ 59,364 $ 59,364 Trade names N/A 2,981 2,857 FCC licenses N/A 651 651 Finite-Lived Intangible Assets: Customer relationships 19 years 13,478 $ (5,110 ) 13,396 $ (4,442 ) Software 4 years 7,017 (3,997 ) 6,008 (3,429 ) Cable franchise renewal costs and contractual operating rights 9 years 1,460 (800 ) 1,499 (849 ) Patents and other technology rights 7 years 257 (208 ) 409 (350 ) Other agreements and rights 15 years 2,443 (898 ) 1,994 (798 ) Total $ 87,651 $ (11,013 ) $ 86,178 $ (9,868 ) |
Amortization of Intangible Assets | Estimated Amortization Expense of Finite-Lived Intangible Assets (in millions) 2017 $ 2,077 2018 $ 1,828 2019 $ 1,475 2020 $ 1,168 2021 $ 939 |
NBCUniversal Media LLC [Member] | |
Goodwill And Intangible Assets [Line Items] | |
Schedule of Goodwill | Goodwill (in millions) Cable Broadcast Filmed Theme Total Balance, December 31, 2014 $ 12,948 $ 767 $ 211 $ 982 $ 14,908 Acquisitions (a) 17 39 58 5,373 5,487 Foreign currency translation (18 ) — (2 ) (11 ) (31 ) Balance, December 31, 2015 12,947 806 267 6,344 20,364 Acquisitions (b) 232 — 2,717 — 2,949 Adjustments (c) — — — (250 ) (250 ) Foreign currency translation 4 — 9 247 260 Balance, December 31, 2016 $ 13,183 $ 806 $ 2,993 $ 6,341 $ 23,323 (a) Acquisitions in 2015 in our Theme Parks segment included the Universal Studios Japan transaction (see Note 4 for additional information). (b) Acquisitions in 2016 in our Filmed Entertainment segment primarily included the DreamWorks Animation acquisition (see Note 4 for additional information). (c) Adjustments in 2016 included the updated allocation of the purchase price for Universal Studios Japan in our Theme Parks segment (see Note 4 for additional information). |
Other Intangible Assets | Intangible Assets 2016 2015 December 31 (in millions) Weighted-Average Gross Accumulated Gross Accumulated Finite-Lived Intangible Assets: Customer relationships 19 years $ 13,173 $ (4,952 ) $ 13,107 $ (4,291 ) Software 5 years 1,195 (563 ) 849 (431 ) Other 15 years 2,345 (1,053 ) 1,996 (932 ) Indefinite-Lived Intangible Assets: Trade names N/A 2,981 2,857 FCC licenses N/A 651 651 Total $ 20,345 $ (6,568 ) $ 19,460 $ (5,654 ) |
Amortization of Intangible Assets | Estimated Amortization Expense of Finite-Lived Intangible Assets (in millions) 2017 $ 946 2018 $ 929 2019 $ 900 2020 $ 873 2021 $ 804 |
Long-Term Debt (Tables)
Long-Term Debt (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Debt Instrument [Line Items] | |
Schedule of Long-Term Debt | Long-Term Debt Outstanding December 31 (in millions) Weighted-Average Interest Rate as of December 31, 2016 2016 2015 Commercial paper 1.01 % $ 2,781 $ 975 Revolving bank credit facilities — % — — Term loans (a) 2.93 % 3,262 3,259 Senior notes with maturities of 5 years or less, at face value 4.68 % 13,850 14,300 Senior notes with maturities between 5 and 10 years, at face value 3.86 % 12,049 9,630 Senior notes with maturities greater than 10 years, at face value (b) 5.19 % 28,587 23,925 Other, including capital lease obligations — 842 794 Debt issuance costs, premiums, discounts and fair value adjustments for hedged positions, net — (325 ) (262 ) Total debt 4.50 % (c) 61,046 52,621 Less: Current portion 5,480 3,627 Long-term debt $ 55,566 $ 48,994 (a) The December 31, 2016 and 2015 amounts consist of ¥382 billion and ¥400 billion , respectively, of Universal Studios Japan term loans translated using the exchange rates as of these dates. (b) The December 31, 2016 and 2015 amounts include £625 million of 5.50% notes due 2029, which translated to $771 million and $921 million , respectively, using the exchange rates as of these dates. (c) Includes the effects of our derivative financial instruments. |
Debt Maturities | Principal Maturities of Debt (in millions) Weighted-Average 2017 4.22 % $ 5,483 2018 4.05 % $ 4,203 2019 3.11 % $ 2,466 2020 4.18 % $ 6,217 2021 4.36 % $ 2,043 Thereafter 4.82 % $ 40,959 |
Debt Borrowings | 2016 Debt Borrowings Year ended December 31, 2016 (in millions) Comcast 3.15% senior notes due 2026 $ 2,200 Comcast 4.05% senior notes due 2046 1,430 Comcast 2.35% senior notes due 2027 1,400 Comcast 3.40% senior notes due 2046 1,400 Comcast 2.75% senior notes due 2023 1,100 Comcast 3.20% senior notes due 2036 1,000 Comcast 1.625% senior notes due 2022 700 Other 1 Total $ 9,231 |
Debt Repayments and Repurchases | 2016 Debt Redemptions and Repayments Year ended December 31, 2016 (in millions) NBCUniversal 2.875% senior notes due 2016 $ 1,000 Comcast 4.95% senior notes due 2016 750 NBCUniversal Enterprise senior notes due 2016 700 DreamWorks Animation assumed debt (see Note 5) 381 Other 221 Total $ 3,052 |
NBCUniversal Media LLC [Member] | |
Debt Instrument [Line Items] | |
Schedule of Long-Term Debt | Long-Term Debt Outstanding December 31 (in millions) Weighted-Average Interest Rate as of December 31, 2016 2016 2015 Term loans (a) 2.93 % $ 3,262 $ 3,259 Senior notes with maturities of 5 years or less, at face value 4.76 % 4,000 3,000 Senior notes with maturities between 5 and 10 years, at face value 2.88 % 1,000 3,000 Senior notes with maturities greater than 10 years, at face value 5.62 % 3,200 3,200 Other, including capital lease obligations — 138 47 Debt issuance costs, premiums, discounts and fair value adjustments for hedged positions, net — (12 ) (12 ) Total debt 4.38 % (b) 11,588 12,494 Less: Current portion 127 1,163 Long-term debt $ 11,461 $ 11,331 (a) The December 31, 2016 and 2015 amounts consist of ¥382 billion and ¥400 billion , respectively, of Universal Studios Japan term loans translated using the exchange rates as of these dates. (b) Includes the effects of our derivative financial instruments. |
Debt Maturities | Principal Maturities of Debt (in millions) Weighted-Average 2017 2.94 % $ 127 2018 3.15 % $ 148 2019 2.74 % $ 247 2020 3.90 % $ 4,797 2021 4.40 % $ 2,008 Thereafter 5.04 % $ 4,273 |
Postretirement, Pension and O40
Postretirement, Pension and Other Employee Benefit Plans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Postretirement and Pension Benefits | Year ended December 31 (in millions) 2016 2015 2014 Benefit obligation $ 538 $ 820 $ 837 Plan funded status and recorded benefit obligation $ (538 ) $ (820 ) $ (837 ) Portion of benefit obligation not yet recognized in benefits expense $ (372 ) $ (33 ) $ 46 Benefits expense $ 70 $ 75 $ 59 Discount rate 4.07-4.56% 4.70-4.73% 4.25 % |
Deferred Compensation Plans | The table below presents the benefit obligation and interest expense for our deferred compensation plans. Year ended December 31 (in millions) 2016 2015 2014 Benefit obligation $ 2,164 $ 2,038 $ 1,774 Interest expense $ 178 $ 171 $ 149 |
NBCUniversal Media LLC [Member] | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |
Postretirement and Pension Benefits | Year ended December 31 (in millions) 2016 2015 2014 Benefit obligation $ 192 $ 197 $ 209 Plan funded status and recorded benefit obligation $ (192 ) $ (197 ) $ (209 ) Portion of benefit obligation not yet recognized in benefits expense $ (42 ) $ (27 ) $ (3 ) Benefits expense $ 13 $ 15 $ 12 Discount rate 4.56 % 4.73 % 4.25 % |
Deferred Compensation Plans | The table below presents the benefit obligation and interest expense for our deferred compensation plans. Year ended December 31 (in millions) 2016 2015 2014 Benefit obligation $ 494 $ 417 $ 349 Interest expense $ 48 $ 28 $ 24 |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Schedule of common stock outstanding | Shares of Common Stock Outstanding (in millions) A A Special B Balance, December 31, 2013 2,138 459 9 Stock compensation plans 13 — — Repurchases and retirements of common stock (22 ) (59 ) — Employee stock purchase plans 2 — — Balance, December 31, 2014 2,131 400 9 Stock compensation plans 12 — — Repurchases and retirements of common stock (62 ) (54 ) — Employee stock purchase plans 2 — — Reclassification of Class A Special common stock 346 (346 ) — Other 4 — — Balance, December 31, 2015 2,433 — 9 Stock compensation plans 11 — — Repurchases and retirements of common stock (81 ) — — Employee stock purchase plans 3 — — Balance, December 31, 2016 2,366 — 9 |
Schedule of shares repurchased | Share Repurchases Year ended December 31 (in millions) 2016 2015 2014 Cash consideration $ 5,000 $ 6,750 $ 4,251 Shares repurchased 81 116 81 |
Schedule of accumulated other comprehensive income (loss) | Accumulated Other Comprehensive Income (Loss) December 31 (in millions) 2016 2015 Unrealized gains (losses) on marketable securities $ — $ 1 Deferred gains (losses) on cash flow hedges (14 ) (46 ) Unrecognized gains (losses) on employee benefit obligations 219 6 Cumulative translation adjustments (107 ) (135 ) Accumulated other comprehensive income (loss), net of deferred taxes $ 98 $ (174 ) |
Share-Based Compensation, Stock
Share-Based Compensation, Stock Options and Restricted Stock Units (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule of recognized share-based compensation expense | The tables below provide condensed information on our share-based compensation. Recognized Share-Based Compensation Expense Year ended December 31 (in millions) 2016 2015 2014 Restricted share units $ 306 $ 273 $ 231 Stock options 173 157 160 Employee stock purchase plans 28 25 23 Total $ 507 $ 455 $ 414 |
Schedule of stock option and restricted share units activity | Stock Options and Restricted Share Units As of December 31, 2016, unless otherwise stated (in millions, except per share data) Stock Options RSUs Awards granted during 2016 21 8 Weighted-average exercise price of awards granted during 2016 $ 60.01 Stock options outstanding and nonvested RSUs 95 22 Weighted-average exercise price of stock options outstanding $ 42.60 Weighted-average fair value at grant date of nonvested RSUs $ 52.11 |
Schedule of stock option and restricted share units fair value and significant assumptions | The table below presents the weighted-average fair value on the date of grant of RSUs and stock options awarded under our various plans and the related weighted-average valuation assumptions. Year ended December 31 2016 2015 2014 RSUs fair value $ 60.03 $ 58.81 $ 47.91 Stock options fair value $ 11.55 $ 11.78 $ 11.11 Stock Option Valuation Assumptions: Dividend yield 1.8 % 1.7 % 1.8 % Expected volatility 23.0 % 23.0 % 24.0 % Risk-free interest rate 1.5 % 1.6 % 2.2 % Expected option life (in years) 6.1 6.0 6.5 |
NBCUniversal Media LLC [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Schedule of recognized share-based compensation expense | The tables below provide condensed information on our share-based compensation. Recognized Share-Based Compensation Expense Year ended December 31 (in millions) 2016 2015 2014 Restricted share units $ 82 $ 78 $ 69 Stock options 9 10 16 Employee stock purchase plans 8 6 6 Total $ 99 $ 94 $ 91 |
Schedule of stock option and restricted share units fair value and significant assumptions | The table below presents the weighted-average fair value on the date of grant of RSUs and stock options awarded under Comcast’s various plans to employees of NBCUniversal and the related weighted-average valuation assumptions. Year ended December 31 2016 2015 2014 RSUs fair value $ 59.58 $ 59.37 $ 48.04 Stock options fair value $ 13.17 $ 11.79 $ 11.09 Stock Option Valuation Assumptions: Dividend yield 1.7 % 1.7 % 1.8 % Expected volatility 23.2 % 23.0 % 24.0 % Risk-free interest rate 1.5 % 1.6 % 2.2 % Expected option life (in years) 7.5 6.0 6.5 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Taxes [Line Items] | |
Schedule for the components of income tax expense | Components of Income Tax Expense Year ended December 31 (in millions) 2016 2015 2014 Current Expense (Benefit): Federal $ 3,190 $ 3,210 $ 2,392 State 480 570 174 Foreign 194 221 142 3,864 4,001 2,708 Deferred Expense (Benefit): Federal 1,192 890 1,000 State 154 66 173 Foreign 98 2 (8 ) 1,444 958 1,165 Income tax expense $ 5,308 $ 4,959 $ 3,873 |
Schedule of items that effect income tax expense | Our income tax expense differs from the federal statutory amount because of the effect of the items detailed in the table below. Year ended December 31 (in millions) 2016 2015 2014 Federal tax at statutory rate $ 5,024 $ 4,680 $ 4,363 State income taxes, net of federal benefit 373 326 329 Foreign income taxes, net of federal credit 65 13 — Nontaxable income attributable to noncontrolling interests (128 ) (69 ) (62 ) Adjustments to uncertain and effectively settled tax positions, net 24 15 (408 ) Accrued interest on uncertain and effectively settled tax positions, net 17 73 (235 ) Other (67 ) (79 ) (114 ) Income tax expense $ 5,308 $ 4,959 $ 3,873 |
Schedule of the components of net deferred tax liability | Components of Net Deferred Tax Liability December 31 (in millions) 2016 2015 Deferred Tax Assets: Net operating loss carryforwards $ 544 $ 551 Differences between book and tax basis of investments — 101 Nondeductible accruals and other 3,789 3,704 Less: Valuation allowance 266 342 4,067 4,014 Deferred Tax Liabilities: Differences between book and tax basis of property and equipment and intangible assets 37,401 36,392 Differences between book and tax basis of investments 144 — Differences between book and tax basis of indexed debt securities 375 457 Differences between book and tax basis of foreign subsidiaries and undistributed foreign earnings 960 731 38,880 37,580 Net deferred tax liability $ 34,813 $ 33,566 |
Reconciliation of unrecognized tax benefits | Reconciliation of Unrecognized Tax Benefits (in millions) 2016 2015 2014 Balance, January 1 $ 1,136 $ 1,171 $ 1,701 Additions based on tax positions related to the current year 74 67 63 Additions based on tax positions related to prior years 67 98 111 Additions from acquired subsidiaries 13 — — Reductions for tax positions of prior years (62 ) (84 ) (220 ) Reductions due to expiration of statutes of limitations (44 ) (41 ) (448 ) Settlements with tax authorities (81 ) (75 ) (36 ) Balance, December 31 $ 1,103 $ 1,136 $ 1,171 |
NBCUniversal Media LLC [Member] | |
Income Taxes [Line Items] | |
Schedule for the components of income tax expense | Components of Income Tax Expense Year ended December 31 (in millions) 2016 2015 2014 Foreign Current income tax expense $ 38 $ 81 $ 33 Deferred income tax expense 96 2 (8 ) Withholding tax expense 158 139 108 U.S. domestic tax expense 13 5 10 Income tax expense $ 305 $ 227 $ 143 |
Supplemental Financial Inform44
Supplemental Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Supplemental Financial Information [Line Items] | |
Schedule of receivables, net | Receivables December 31 (in millions) 2016 2015 Receivables, gross $ 8,622 $ 7,595 Less: Allowance for returns and customer incentives 417 473 Less: Allowance for doubtful accounts 250 226 Receivables, net $ 7,955 $ 6,896 |
Schedule of accumulated other comprehensive income (loss) | Accumulated Other Comprehensive Income (Loss) December 31 (in millions) 2016 2015 Unrealized gains (losses) on marketable securities $ — $ 1 Deferred gains (losses) on cash flow hedges (14 ) (46 ) Unrecognized gains (losses) on employee benefit obligations 219 6 Cumulative translation adjustments (107 ) (135 ) Accumulated other comprehensive income (loss), net of deferred taxes $ 98 $ (174 ) |
Schedule of cash payments for interest and income taxes | Cash Payments for Interest and Income Taxes Year ended December 31 (in millions) 2016 2015 2014 Interest $ 2,565 $ 2,443 $ 2,389 Income taxes $ 3,693 $ 3,726 $ 3,668 |
NBCUniversal Media LLC [Member] | |
Supplemental Financial Information [Line Items] | |
Schedule of receivables, net | Receivables December 31 (in millions) 2016 2015 Receivables, gross $ 6,799 $ 5,949 Less: Allowance for returns and customer incentives 413 469 Less: Allowance for doubtful accounts 84 69 Receivables, net $ 6,302 $ 5,411 |
Schedule of accumulated other comprehensive income (loss) | Accumulated Other Comprehensive Income (Loss) December 31 (in millions) 2016 2015 Deferred gains (losses) on cash flow hedges $ 23 $ (1 ) Unrecognized gains (losses) on employee benefit obligations 14 (1 ) Cumulative translation adjustments (172 ) (210 ) Accumulated other comprehensive income (loss) $ (135 ) $ (212 ) |
Schedule of cash payments for interest and income taxes | Cash Payments for Interest and Income Taxes Year ended December 31 (in millions) 2016 2015 2014 Interest $ 548 $ 456 $ 485 Income taxes $ 208 $ 182 $ 174 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Commitment And Contingencies [Line Items] | |
Schedule of minimum annual programming and talent commitments | The table below summarizes our minimum annual programming and talent commitments and our minimum annual rental commitments for office space, equipment and transponder service agreements under operating leases. Programming and talent commitments include acquired film and television programming, including U.S. broadcast rights to the Olympic Games through 2032, Sunday Night Football through the 2022-23 season , Thursday Night Football through the 2017-18 season , certain NASCAR events through 2024 and other programming commitments, as well as various contracts with creative talent. As of December 31, 2016 (in millions) Programming and Talent Commitments Operating Leases 2017 $ 5,222 $ 517 2018 $ 4,879 $ 485 2019 $ 3,503 $ 433 2020 $ 4,587 $ 378 2021 $ 3,177 $ 321 Thereafter $ 20,847 $ 1,873 |
Schedule of rental expenses charged to operations | The table below presents our rental expense charged to operations. Year ended December 31 (in millions) 2016 2015 2014 Rental expense $ 744 $ 608 $ 580 |
NBCUniversal Media LLC [Member] | |
Commitment And Contingencies [Line Items] | |
Schedule of minimum annual programming and talent commitments | The table below summarizes our minimum annual programming and talent commitments and our minimum annual rental commitments for office space and equipment under operating leases. Programming and talent commitments include acquired film and television programming, including U.S. broadcast rights to the Olympic Games through 2032, Sunday Night Football through the 2022-23 season , Thursday Night Football through the 2017-18 season , certain NASCAR events through 2024 and other programming commitments, as well as various contracts with creative talent. As of December 31, 2016 (in millions) Programming and Talent Commitments Operating Leases 2017 $ 5,213 $ 198 2018 $ 4,876 $ 182 2019 $ 3,503 $ 173 2020 $ 4,587 $ 163 2021 $ 3,177 $ 147 Thereafter $ 20,847 $ 1,238 |
Schedule of rental expenses charged to operations | The table below presents our rental expense charged to operations. Year ended December 31 (in millions) 2016 2015 2014 Rental expense $ 259 $ 213 $ 222 |
Financial Data by Business Se46
Financial Data by Business Segment (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Segment Reporting Information [Line Items] | |
Financial Data by Business Segment | Our financial data by reportable business segment is presented in the tables below. We do not present a measure of total assets for our reportable business segments as this information is not used by management to allocate resources and capital. (in millions) Revenue (f) Operating (g) Depreciation Operating Capital Cash Paid for Intangible Assets 2016 Cable Communications (a)(b) $ 50,048 $ 20,109 $ 7,670 $ 12,439 $ 7,596 $ 1,377 NBCUniversal Cable Networks (c) 10,464 3,709 745 2,964 32 20 Broadcast Television (c) 10,147 1,320 125 1,195 153 19 Filmed Entertainment 6,360 697 47 650 33 16 Theme Parks 4,946 2,190 512 1,678 922 72 Headquarters and Other (d) 20 (699 ) 376 (1,075 ) 312 156 Eliminations (e) (344 ) 10 — 10 — — NBCUniversal 31,593 7,227 1,805 5,422 1,452 283 Corporate and Other (b) 750 (874 ) 83 (957 ) 87 26 Eliminations (e) (1,988 ) (45 ) — (45 ) — — Comcast Consolidated $ 80,403 $ 26,417 $ 9,558 $ 16,859 $ 9,135 $ 1,686 (in millions) Revenue (f) Operating (g) Depreciation Operating Capital Cash Paid for Intangible Assets 2015 Cable Communications (a)(b) $ 46,928 $ 19,037 $ 7,051 $ 11,986 $ 7,040 $ 1,151 NBCUniversal Cable Networks 9,628 3,499 784 2,715 44 22 Broadcast Television (c) 8,530 780 111 669 117 17 Filmed Entertainment 7,287 1,234 26 1,208 14 20 Theme Parks 3,339 1,464 292 1,172 833 54 Headquarters and Other (d) 14 (625 ) 326 (951 ) 378 98 Eliminations (e) (336 ) — — — — — NBCUniversal 28,462 6,352 1,539 4,813 1,386 211 Corporate and Other (b) 713 (815 ) 90 (905 ) 73 8 Eliminations (e) (1,593 ) 104 — 104 — — Comcast Consolidated $ 74,510 $ 24,678 $ 8,680 $ 15,998 $ 8,499 $ 1,370 (in millions) Revenue (f) Operating (g) Depreciation Operating Capital Cash Paid for Intangible Assets 2014 Cable Communications (a)(b) $ 44,165 $ 18,097 $ 6,436 $ 11,661 $ 6,156 $ 979 NBCUniversal Cable Networks (c) 9,563 3,589 748 2,841 49 21 Broadcast Television (c) 8,542 734 127 607 76 12 Filmed Entertainment 5,008 711 21 690 11 7 Theme Parks 2,623 1,096 273 823 671 15 Headquarters and Other (d) 13 (613 ) 326 (939 ) 414 75 Eliminations (e) (321 ) (1 ) — (1 ) — — NBCUniversal 25,428 5,516 1,495 4,021 1,221 130 Corporate and Other (b) 683 (763 ) 88 (851 ) 43 13 Eliminations (e) (1,501 ) 73 — 73 — — Comcast Consolidated $ 68,775 $ 22,923 $ 8,019 $ 14,904 $ 7,420 $ 1,122 (a) For the years ended December 31, 2016 , 2015 and 2014 , Cable Communications segment revenue was derived from the following sources: 2016 2015 2014 Residential: Video 44.7 % 45.9 % 47.1 % High-speed Internet 27.0 % 26.6 % 25.6 % Voice 7.1 % 7.7 % 8.3 % Business services 11.0 % 10.1 % 9.0 % Advertising 5.0 % 4.9 % 5.4 % Other 5.2 % 4.8 % 4.6 % Total 100 % 100 % 100 % Subscription revenue received from customers who purchase bundled services at a discounted rate is allocated proportionally to each service based on the individual service’s price on a stand-alone basis. For each of 2016 , 2015 and 2014 , 2.8% of Cable Communications revenue was derived from franchise and other regulatory fees. (b) Beginning in 2016, certain operations and businesses, including several strategic business initiatives, that were previously presented in Corporate and Other are now presented in our Cable Communications segment to reflect a change in our management reporting presentation. For segment reporting purposes, we have adjusted all periods presented to reflect this change. (c) The revenue and operating costs and expenses associated with our broadcast of the 2016 Rio Olympics and 2014 Sochi Olympics were reported in our Cable Networks and Broadcast Television segments. The revenue and operating costs and expenses associated with our broadcast of the 2015 Super Bowl were reported in our Broadcast Television segment. (d) NBCUniversal Headquarters and Other activities include costs associated with overhead, allocations, personnel costs and headquarter initiatives. (e) 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 segment generates revenue by selling programming to our Cable Communications segment, which represents a substantial majority of the revenue elimination amount • our Broadcast Television segment generates revenue from the fees received under retransmission consent agreements with our Cable Communications segment • our Cable Communications segment generates revenue by selling advertising and by selling the use of satellite feeds to our Cable Networks segment • our Filmed Entertainment and Broadcast Television segments generate revenue by licensing content to our Cable Networks segment (f) Revenue from customers located outside of the United States, primarily in Europe and Asia, in 2016 , 2015 and 2014 was $6.5 billion , $5.8 billion and $4.4 billion , respectively. No single customer accounted for a significant amount of revenue in any period. (g) We use operating income (loss) before depreciation and amortization, excluding impairment charges related to fixed and intangible assets and gains or losses from the sale of assets, if any, as the measure of profit or loss for our operating segments. This measure eliminates the significant level of noncash depreciation and amortization expense that results from the capital-intensive nature of certain of our businesses and from intangible assets recognized in business combinations. Additionally, it is unaffected by our capital structure or investment activities. We use this measure to evaluate our consolidated operating performance and the operating performance of our operating segments and to allocate resources and capital to our operating segments. It is also a significant performance measure in our annual incentive compensation programs. We believe that this measure is useful to investors because it is one of the bases for comparing our operating performance with that of other companies in our industries, although our measure may not be directly comparable to similar measures used by other companies. This measure should not be considered a substitute for operating income (loss), net income (loss) attributable to Comcast Corporation, net cash provided by operating activities, or other measures of performance or liquidity we have reported in accordance with GAAP. |
Cable Communications Segment Revenue Sources | 2016 2015 2014 Residential: Video 44.7 % 45.9 % 47.1 % High-speed Internet 27.0 % 26.6 % 25.6 % Voice 7.1 % 7.7 % 8.3 % Business services 11.0 % 10.1 % 9.0 % Advertising 5.0 % 4.9 % 5.4 % Other 5.2 % 4.8 % 4.6 % Total 100 % 100 % 100 % |
NBCUniversal Media LLC [Member] | |
Segment Reporting Information [Line Items] | |
Financial Data by Business Segment | Our financial data by reportable business segment is presented in the tables below. We do not present a measure of total assets for our reportable business segments as this information is not used by management to allocate resources and capital. (in millions) Revenue (d) Operating (e) Depreciation Operating Capital Cash Paid for Intangible Assets 2016 Cable Networks (a) $ 10,464 $ 3,709 $ 745 $ 2,964 $ 32 $ 20 Broadcast Television (a) 10,147 1,320 125 1,195 153 19 Filmed Entertainment 6,360 697 47 650 33 16 Theme Parks 4,946 2,190 512 1,678 922 72 Headquarters and Other (b) 20 (699 ) 376 (1,075 ) 312 156 Eliminations (c) (344 ) 10 — 10 — — Total $ 31,593 $ 7,227 $ 1,805 $ 5,422 $ 1,452 $ 283 (in millions) Revenue (d) Operating (e) Depreciation Operating Capital Cash Paid for Intangible Assets 2015 Cable Networks $ 9,628 $ 3,499 $ 784 $ 2,715 $ 44 $ 22 Broadcast Television (a) 8,530 780 111 669 117 17 Filmed Entertainment 7,287 1,234 26 1,208 14 20 Theme Parks 3,339 1,464 292 1,172 833 54 Headquarters and Other (b) 14 (625 ) 326 (951 ) 378 98 Eliminations (c) (336 ) 6 — 6 — — Total $ 28,462 $ 6,358 $ 1,539 $ 4,819 $ 1,386 $ 211 (in millions) Revenue (d) Operating (e) Depreciation Operating Capital Cash Paid for Intangible Assets 2014 Cable Networks (a) $ 9,563 $ 3,589 $ 748 $ 2,841 $ 49 $ 21 Broadcast Television (a) 8,542 734 127 607 76 12 Filmed Entertainment 5,008 711 21 690 11 7 Theme Parks 2,623 1,096 273 823 671 15 Headquarters and Other (b) 13 (613 ) 326 (939 ) 414 75 Eliminations (c) (321 ) 71 — 71 — — Total $ 25,428 $ 5,588 $ 1,495 $ 4,093 $ 1,221 $ 130 (a) The revenue and operating costs and expenses associated with our broadcast of the 2016 Rio Olympics and 2014 Sochi Olympics were reported in our Cable Networks and Broadcast Television segments. The revenue and operating costs and expenses associated with our broadcast of the 2015 Super Bowl were reported in our Broadcast Television segment. (b) Headquarters and Other activities include costs associated with overhead, allocations, personnel costs and headquarter initiatives. (c) Eliminations are transactions that our segments enter into with one another, which consisted primarily of the licensing of film and television content from our Filmed Entertainment and Broadcast Television segments to our Cable Networks segment. (d) We operate primarily in the United States, but also in select international markets primarily in Europe and Asia. The table below summarizes revenue by geographic location. No single customer accounted for a significant amount of revenue in any period. Year ended December 31 (in millions) 2016 2015 2014 Revenue: United States $ 25,076 $ 22,663 $ 20,995 Foreign $ 6,517 $ 5,799 $ 4,433 (e) We use operating income (loss) before depreciation and amortization, excluding impairment charges related to fixed and intangible assets and gains or losses from the sale of assets, if any, as the measure of profit or loss for our operating segments. This measure eliminates the significant level of noncash amortization expense that results from intangible assets recognized in connection with the joint venture transaction and other business combinations. Additionally, it is unaffected by our capital structure or investment activities. We use this measure to evaluate our consolidated operating performance and the operating performance of our operating segments and to allocate resources and capital to our operating segments. It is also a significant performance measure in our annual incentive compensation programs. We believe that this measure is useful to investors because it is one of the bases for comparing our operating performance with that of other companies in our industries, although our measure may not be directly comparable to similar measures used by other companies. This measure should not be considered a substitute for operating income (loss), net income (loss) attributable to NBCUniversal, net cash provided by operating activities, or other measures of performance or liquidity we have reported in accordance with GAAP. |
Revenue From External Customers By Geographic Areas | The table below summarizes revenue by geographic location. No single customer accounted for a significant amount of revenue in any period. Year ended December 31 (in millions) 2016 2015 2014 Revenue: United States $ 25,076 $ 22,663 $ 20,995 Foreign $ 6,517 $ 5,799 $ 4,433 |
Quarterly Financial Informati47
Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of quarterly financial information | (in millions, except per share data) First Second Third Fourth Total 2016 Revenue $ 18,790 $ 19,269 $ 21,319 $ 21,025 $ 80,403 Operating income $ 4,089 $ 4,066 $ 4,440 $ 4,264 $ 16,859 Net income attributable to Comcast Corporation (a) $ 2,134 $ 2,028 $ 2,237 $ 2,296 $ 8,695 Basic earnings per common share attributable to Comcast Corporation shareholders $ 0.88 $ 0.84 $ 0.93 $ 0.96 $ 3.61 Diluted earnings per common share attributable to Comcast Corporation shareholders $ 0.87 $ 0.83 $ 0.92 $ 0.95 $ 3.57 Dividends declared per common share $ 0.275 $ 0.275 $ 0.275 $ 0.275 $ 1.10 2015 Revenue $ 17,853 $ 18,743 $ 18,669 $ 19,245 $ 74,510 Operating income $ 3,890 $ 4,105 $ 4,001 $ 4,002 $ 15,998 Net income attributable to Comcast Corporation $ 2,059 $ 2,137 $ 1,996 $ 1,971 $ 8,163 Basic earnings per common share attributable to Comcast Corporation shareholders $ 0.82 $ 0.85 $ 0.81 $ 0.80 $ 3.28 Diluted earnings per common share attributable to Comcast Corporation shareholders $ 0.81 $ 0.84 $ 0.80 $ 0.79 $ 3.24 Dividends declared per common share $ 0.25 $ 0.25 $ 0.25 $ 0.25 $ 1.00 (a) In the fourth quarter of 2016, net income attributable to Comcast Corporation included $225 million , $143 million net of tax, recognized in connection with the settlement of amounts owed to us under an agency agreement that had provided for, among other things, Verizon Wireless’ sale of our cable services . |
Condensed Consolidating Finan48
Condensed Consolidating Financial Information (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Consolidating Financial Statements | Condensed Consolidating Balance Sheet December 31, 2016 (in millions) Comcast Comcast CCCL NBCUniversal Non- Elimination Consolidated Assets Cash and cash equivalents $ — $ — $ — $ 482 $ 2,819 $ — $ 3,301 Receivables, net — — — — 7,955 — 7,955 Programming rights — — — — 1,250 — 1,250 Deposits — — — — 1,772 — 1,772 Other current assets 151 — — 36 1,896 — 2,083 Total current assets 151 — — 518 15,692 — 16,361 Film and television costs — — — — 7,252 — 7,252 Investments 75 — — 651 4,521 — 5,247 Investments in and amounts due from subsidiaries eliminated upon consolidation 98,350 120,071 117,696 47,393 97,704 (481,214 ) — Property and equipment, net 298 — — — 35,955 — 36,253 Franchise rights — — — — 59,364 — 59,364 Goodwill — — — — 35,980 — 35,980 Other intangible assets, net 13 — — — 17,261 — 17,274 Other noncurrent assets, net 1,138 638 — 89 1,921 (1,017 ) 2,769 Total assets $ 100,025 $ 120,709 $ 117,696 $ 48,651 $ 275,650 $ (482,231 ) $ 180,500 Liabilities and Equity Accounts payable and accrued expenses related to trade creditors $ 23 $ — $ — $ — $ 6,892 $ — $ 6,915 Accrued participations and residuals — — — — 1,726 — 1,726 Accrued expenses and other current liabilities 1,726 — 341 302 5,045 — 7,414 Current portion of long-term debt 3,739 — 550 4 1,187 — 5,480 Total current liabilities 5,488 — 891 306 14,850 — 21,535 Long-term debt, less current portion 38,123 141 2,100 8,208 6,994 — 55,566 Deferred income taxes — 542 — 70 35,259 (1,017 ) 34,854 Other noncurrent liabilities 2,471 — — 1,166 7,288 — 10,925 Redeemable noncontrolling interests and redeemable subsidiary preferred stock — — — — 1,446 — 1,446 Equity: Common stock 28 — — — — — 28 Other shareholders’ equity 53,915 120,026 114,705 38,901 207,582 (481,214 ) 53,915 Total Comcast Corporation shareholders’ equity 53,943 120,026 114,705 38,901 207,582 (481,214 ) 53,943 Noncontrolling interests — — — — 2,231 — 2,231 Total equity 53,943 120,026 114,705 38,901 209,813 (481,214 ) 56,174 Total liabilities and equity $ 100,025 $ 120,709 $ 117,696 $ 48,651 $ 275,650 $ (482,231 ) $ 180,500 Condensed Consolidating Balance Sheet December 31, 2015 (in millions) Comcast Comcast CCCL NBCUniversal Non- Elimination Consolidated Assets Cash and cash equivalents $ — $ — $ — $ 414 $ 1,881 $ — $ 2,295 Receivables, net — — — — 6,896 — 6,896 Programming rights — — — — 1,213 — 1,213 Deposits — — — — 21 — 21 Other current assets 69 — — 17 1,792 — 1,878 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 Statement of Income For the Year Ended December 31, 2016 (in millions) Comcast Comcast CCCL NBCUniversal Non- Elimination Consolidated Revenue: Service revenue $ — $ — $ — $ — $ 80,403 $ — $ 80,403 Management fee revenue 1,067 — 1,049 — — (2,116 ) — 1,067 — 1,049 — 80,403 (2,116 ) 80,403 Costs and Expenses: Programming and production — — — — 24,463 — 24,463 Other operating and administrative 813 — 1,049 932 22,731 (2,116 ) 23,409 Advertising, marketing and promotion — — — — 6,114 — 6,114 Depreciation 28 — — — 7,436 — 7,464 Amortization 6 — — — 2,088 — 2,094 847 — 1,049 932 62,832 (2,116 ) 63,544 Operating income (loss) 220 — — (932 ) 17,571 — 16,859 Other Income (Expense): Interest expense (1,941 ) (12 ) (239 ) (456 ) (294 ) — (2,942 ) Investment income (loss), net 7 (5 ) — (25 ) 236 — 213 Equity in net income (losses) of investees, net 9,809 9,286 8,679 5,545 4,131 (37,554 ) (104 ) Other income (expense), net — — — 116 211 — 327 7,875 9,269 8,440 5,180 4,284 (37,554 ) (2,506 ) Income (loss) before income taxes 8,095 9,269 8,440 4,248 21,855 (37,554 ) 14,353 Income tax (expense) benefit 600 6 84 (13 ) (5,985 ) — (5,308 ) Net income (loss) 8,695 9,275 8,524 4,235 15,870 (37,554 ) 9,045 Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock — — — — (350 ) — (350 ) Net income (loss) attributable to Comcast Corporation $ 8,695 $ 9,275 $ 8,524 $ 4,235 $ 15,520 $ (37,554 ) $ 8,695 Comprehensive income (loss) attributable to Comcast Corporation $ 8,967 $ 9,317 $ 8,530 $ 4,312 $ 15,610 $ (37,769 ) $ 8,967 Condensed Consolidating Statement of Income For the Year Ended December 31, 2015 (in millions) Comcast Comcast CCCL NBCUniversal Non- Elimination Consolidated 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 20,642 (1,982 ) 21,319 Advertising, marketing and promotion — — — — 5,963 — 5,963 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 Comcast CCCL NBCUniversal Non- Elimination Consolidated 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 19,127 (1,868 ) 19,839 Advertising, marketing and promotion — — — — 5,101 — 5,101 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 Cash Flows For the Year Ended December 31, 2016 (in millions) Comcast Comcast CCCL NBCUniversal Non- Elimination Consolidated Net cash provided by (used in) operating activities $ (1,332 ) $ (189 ) $ (100 ) $ (1,453 ) $ 22,314 $ — $ 19,240 Investing Activities: Net transactions with affiliates (860 ) 189 100 2,642 (2,071 ) — — Capital expenditures (13 ) — — — (9,122 ) — (9,135 ) Cash paid for intangible assets (9 ) — — — (1,677 ) — (1,686 ) Acquisitions and construction of real estate properties (35 ) — — — (393 ) — (428 ) Acquisitions, net of cash acquired — — — — (3,929 ) — (3,929 ) Proceeds from sales of businesses and investments — — — 104 114 — 218 Purchases of investments (40 ) — — (210 ) (1,447 ) — (1,697 ) Deposits — — — — (1,749 ) — (1,749 ) Other (108 ) — — (35 ) 164 — 21 Net cash provided by (used in) investing activities (1,065 ) 189 100 2,501 (20,110 ) — (18,385 ) Financing Activities: Proceeds from (repayments of) short-term borrowings, net 1,339 — — — 451 — 1,790 Proceeds from borrowings 9,231 — — — — — 9,231 Repurchases and repayments of debt (750 ) — — (1,005 ) (1,297 ) — (3,052 ) Repurchases and retirements of common stock (5,000 ) — — — — — (5,000 ) Dividends paid (2,601 ) — — — — — (2,601 ) Issuances of common stock 23 — — — — — 23 Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock — — — — (253 ) — (253 ) Other 155 — — 25 (167 ) — 13 Net cash provided by (used in) financing activities 2,397 — — (980 ) (1,266 ) — 151 Increase (decrease) in cash and cash equivalents — — — 68 938 — 1,006 Cash and cash equivalents, beginning of year — — — 414 1,881 — 2,295 Cash and cash equivalents, end of year $ — $ — $ — $ 482 $ 2,819 $ — $ 3,301 Condensed Consolidating Statement of Cash Flows For the Year Ended December 31, 2015 (in millions) Comcast Comcast CCCL NBCUniversal Non- Elimination Consolidated 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 ) Deposits — — — — (18 ) — (18 ) Other 7 — — (5 ) 236 — 238 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 Comcast CCCL NBCUniversal Non- Elimination Consolidated 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 ) Deposits — — — — — — — 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 |
Business and Basis of Present49
Business and Basis of Presentation (Details) customer in Millions | Jan. 24, 2017 | Dec. 31, 2016customersegment | Nov. 30, 2015 |
Business And Basis Of Presentation [Line Items] | |||
Number of reportable segments | segment | 5 | ||
NBCUniversal Media LLC [Member] | |||
Business And Basis Of Presentation [Line Items] | |||
Number of reportable segments | segment | 4 | ||
Cable Communications [Member] | |||
Business And Basis Of Presentation [Line Items] | |||
Number of reportable segments | segment | 1 | ||
Total customer relationships | customer | 28.6 | ||
NBCUniversal [Member] | |||
Business And Basis Of Presentation [Line Items] | |||
Number of reportable segments | segment | 4 | ||
Video Customers [Member] | Cable Communications [Member] | |||
Business And Basis Of Presentation [Line Items] | |||
Number of customers | customer | 22.5 | ||
High-speed Internet Customers [Member] | Cable Communications [Member] | |||
Business And Basis Of Presentation [Line Items] | |||
Number of customers | customer | 24.7 | ||
Voice Customers [Member] | Cable Communications [Member] | |||
Business And Basis Of Presentation [Line Items] | |||
Number of customers | customer | 11.7 | ||
Universal Studios Japan [Member] | Theme Parks [Member] | |||
Business And Basis Of Presentation [Line Items] | |||
Ownership percentage | 51.00% | ||
Universal Studios Japan [Member] | Theme Parks [Member] | NBCUniversal Media LLC [Member] | |||
Business And Basis Of Presentation [Line Items] | |||
Ownership percentage | 51.00% | ||
Subsequent Event [Member] | |||
Business And Basis Of Presentation [Line Items] | |||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 2 |
Recent Accounting Pronounceme50
Recent Accounting Pronouncements (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Net cash provided by operating activities | $ 19,240 | $ 18,778 | $ 16,945 |
Net cash provided by (used in) financing activities | 151 | (8,429) | (6,020) |
Share Based Compensation New Accounting Pronouncement [Member] | As Reported [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Net cash provided by operating activities | 19,240 | 18,778 | 16,945 |
Net cash provided by (used in) financing activities | 151 | (8,429) | (6,020) |
Share Based Compensation New Accounting Pronouncement [Member] | Effect of Adoption [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Decrease in income tax expense | $ 233 | ||
Decrease in effective income tax rate | 1.60% | ||
Increase in diluted earnings per share (in dollars per share) | $ 0.08 | ||
Net cash provided by operating activities | $ 585 | 708 | 652 |
Net cash provided by (used in) financing activities | (585) | (708) | (652) |
Share Based Compensation New Accounting Pronouncement [Member] | Upon Adoption [Member] | |||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | |||
Net cash provided by operating activities | 19,825 | 19,486 | 17,597 |
Net cash provided by (used in) financing activities | $ (434) | $ (9,137) | $ (6,672) |
Earnings Per Share (Details)
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Earnings Per Share [Abstract] | |||||||||||
Net income attributable to Parent | $ 2,296 | $ 2,237 | $ 2,028 | $ 2,134 | $ 1,971 | $ 1,996 | $ 2,137 | $ 2,059 | $ 8,695 | $ 8,163 | $ 8,380 |
Basic EPS attributable to Comcast Corporation shareholders (in shares) | 2,410 | 2,486 | 2,583 | ||||||||
Assumed exercise or issuance of shares relating to stock plans (in shares) | 28 | 32 | 37 | ||||||||
Diluted EPS attributable to Comcast Corporation shareholders (in shares) | 2,438 | 2,518 | 2,620 | ||||||||
Basic earnings per common share attributable to Comcast Corporation shareholders (in dollars per share) | $ 0.96 | $ 0.93 | $ 0.84 | $ 0.88 | $ 0.80 | $ 0.81 | $ 0.85 | $ 0.82 | $ 3.61 | $ 3.28 | $ 3.24 |
Diluted earnings per common share attributable to Comcast Corporation shareholders (in dollars per share) | $ 0.95 | $ 0.92 | $ 0.83 | $ 0.87 | $ 0.79 | $ 0.80 | $ 0.84 | $ 0.81 | $ 3.57 | $ 3.24 | $ 3.20 |
Significant Transactions (Narra
Significant Transactions (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions | Aug. 22, 2016 | Nov. 13, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
NBCUniversal Media LLC [Member] | |||||
Business Acquisition [Line Items] | |||||
Contribution from member | $ 3,655 | $ 252 | |||
DreamWorks Animation [Member] | |||||
Business Acquisition [Line Items] | |||||
Cash consideration transferred | $ 3,773 | ||||
Business acquisition share price (in dollars per share) | $ 41 | ||||
DreamWorks Animation [Member] | NBCUniversal Media LLC [Member] | |||||
Business Acquisition [Line Items] | |||||
Cash consideration transferred | $ 3,773 | ||||
DreamWorks Animation [Member] | NBCUniversal Media LLC [Member] | Member's contribution that represented Deferred Income Tax Assets and Other Tax-related Items recorded by Parent but excluded from net assets contributed | |||||
Business Acquisition [Line Items] | |||||
Contribution from member | 353 | ||||
Universal Studios Japan [Member] | |||||
Business Acquisition [Line Items] | |||||
Cash consideration transferred | $ 1,499 | ||||
Ownership percentage | 51.00% | ||||
Ownership percentage by noncontrolling owners | 49.00% | ||||
Universal Studios Japan [Member] | NBCUniversal Media LLC [Member] | |||||
Business Acquisition [Line Items] | |||||
Cash consideration transferred | $ 1,499 | ||||
Ownership percentage | 51.00% | ||||
Ownership percentage by noncontrolling owners | 49.00% | ||||
Time Warner Cable Merger and Related Divestiture Transactions [Member] | |||||
Business Acquisition [Line Items] | |||||
Transaction costs and transaction-related costs | 198 | $ 237 | |||
Write-off of assets related to merger agreement termination | $ 20 | ||||
Tax Receivable Agreement [Member] | DreamWorks Animation [Member] | NBCUniversal Media LLC [Member] | |||||
Business Acquisition [Line Items] | |||||
Contribution from member | 146 | ||||
Cash Consideration Transferred By Comcast [Member] | DreamWorks Animation [Member] | NBCUniversal Media LLC [Member] | |||||
Business Acquisition [Line Items] | |||||
Cash consideration transferred | $ 3,800 | ||||
Business acquisition share price (in dollars per share) | $ 41 |
Significant Transactions (Preli
Significant Transactions (Preliminary Allocation of Purchase Price) (Details) - USD ($) $ in Millions | Aug. 22, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Business Acquisition [Line Items] | ||||
Goodwill | $ 35,980 | $ 32,945 | $ 27,316 | |
NBCUniversal Media LLC [Member] | ||||
Business Acquisition [Line Items] | ||||
Goodwill | $ 23,323 | $ 20,364 | $ 14,908 | |
DreamWorks Animation [Member] | ||||
Business Acquisition [Line Items] | ||||
Film and television costs (see Note 6) | $ 854 | |||
Intangible assets (see Note 9) | 164 | |||
Working capital | 248 | |||
Debt (see Note 10) | (381) | |||
Tax receivable agreement | (146) | |||
Deferred income taxes (see Note 14) | 366 | |||
Other noncurrent assets and liabilities and other | 137 | |||
Identifiable net assets (liabilities) acquired | 1,242 | |||
Noncontrolling interest | (89) | |||
Goodwill | 2,620 | |||
Cash consideration transferred by Comcast | 3,773 | |||
DreamWorks Animation [Member] | NBCUniversal Media LLC [Member] | ||||
Business Acquisition [Line Items] | ||||
Film and television costs (see Note 6) | 854 | |||
Intangible assets (see Note 9) | 164 | |||
Working capital | 248 | |||
Debt (see Note 10) | (381) | |||
Tax receivable agreement | (146) | |||
Other noncurrent assets and liabilities and other | 503 | |||
Identifiable net assets (liabilities) acquired | 1,242 | |||
Noncontrolling interest | (89) | |||
Goodwill | 2,620 | |||
Cash consideration transferred by Comcast | $ 3,773 |
Significant Transactions (Alloc
Significant Transactions (Allocation of Purchase Price) (Details) - USD ($) $ in Millions | Nov. 13, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Business Acquisition [Line Items] | ||||
Goodwill | $ 35,980 | $ 32,945 | $ 27,316 | |
NBCUniversal Media LLC [Member] | ||||
Business Acquisition [Line Items] | ||||
Goodwill | $ 23,323 | $ 20,364 | $ 14,908 | |
Universal Studios Japan [Member] | ||||
Business Acquisition [Line Items] | ||||
Property and equipment (see Note 8) | $ 780 | |||
Intangible assets (see Note 9) | 323 | |||
Working capital | (33) | |||
Debt (see Note 10) | (3,271) | |||
Other noncurrent assets and liabilities and other | 17 | |||
Identifiable net assets (liabilities) acquired | (2,184) | |||
Noncontrolling interest | (1,440) | |||
Goodwill | 5,123 | |||
Cash consideration transferred | 1,499 | |||
Universal Studios Japan [Member] | NBCUniversal Media LLC [Member] | ||||
Business Acquisition [Line Items] | ||||
Property and equipment (see Note 8) | 780 | |||
Intangible assets (see Note 9) | 323 | |||
Working capital | (33) | |||
Debt (see Note 10) | (3,271) | |||
Other noncurrent assets and liabilities and other | 17 | |||
Identifiable net assets (liabilities) acquired | (2,184) | |||
Noncontrolling interest | (1,440) | |||
Goodwill | 5,123 | |||
Cash consideration transferred | $ 1,499 |
Significant Transactions (Pro F
Significant Transactions (Pro Forma Information) (Details) - Universal Studios Japan [Member] - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Business Acquisition [Line Items] | |||
Revenue | $ 75,563 | $ 69,860 | |
Net income | 8,591 | 8,704 | |
Net income attributable to parent company | $ 8,253 | $ 8,435 | |
Basic earnings per common share attributable to Comcast Corporation shareholders (in dollars per share) | $ 3.32 | $ 3.27 | |
Diluted earnings per common share attributable to Comcast Corporation shareholders (in dollars per share) | $ 3.28 | $ 3.22 | |
Revenue of Acquiree Since Acquisition Date | $ 1,400 | $ 169 | |
Net income of Acquiree Since Acquisition Date | 124 | 18 | |
NBC Universal Media LLC [Member] | |||
Business Acquisition [Line Items] | |||
Revenue | 29,514 | $ 26,513 | |
Net income | 3,801 | 3,409 | |
Net income attributable to parent company | 3,503 | $ 3,170 | |
Revenue of Acquiree Since Acquisition Date | 1,400 | 169 | |
Net income of Acquiree Since Acquisition Date | $ 124 | $ 18 |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Sep. 30, 2016 | Dec. 31, 2015 | |
Related Party Transaction [Line Items] | |||
Other noncurrent liabilities | $ 10,925 | $ 10,637 | |
NBCUniversal Media LLC [Member] | |||
Related Party Transaction [Line Items] | |||
Other noncurrent liabilities | 4,130 | 3,790 | |
NBCUniversal Media LLC [Member] | Carrying Value Of Related Party Contractual Obligation [Member] | |||
Related Party Transaction [Line Items] | |||
Other noncurrent liabilities | $ 383 | $ 383 | |
NBCUniversal Media LLC [Member] | NBCUniversal Holdings Preferred Stock [Member] | |||
Related Party Transaction [Line Items] | |||
Preferred stock, dividend rate | 8.25% | ||
Preferred stock liquidation preference value | $ 9,400 | ||
NBCUniversal Media LLC [Member] | Former Comcast And NBCUniversal Revolving Credit Agreements [Member] | |||
Related Party Transaction [Line Items] | |||
Revolving credit agreement capacity | $ 3,000 | ||
NBCUniversal Media LLC [Member] | Comcast and NBCUniversal Revolving Credit Agreements [Member] | |||
Related Party Transaction [Line Items] | |||
Revolving credit agreement capacity | $ 5,000 | ||
Borrowing margin for LIBOR based borrowings | 1.00% |
Related Party Transactions (Con
Related Party Transactions (Condensed Consolidated Balance Sheet) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Related Party Transaction [Line Items] | ||
Receivables, net | $ 7,955 | $ 6,896 |
Accounts payable and accrued expenses related to trade creditors | 6,915 | 6,215 |
Accrued expenses and other current liabilities | 6,282 | 5,462 |
Other noncurrent liabilities | 10,925 | 10,637 |
NBCUniversal Media LLC [Member] | ||
Related Party Transaction [Line Items] | ||
Receivables, net | 6,302 | 5,411 |
Accounts payable and accrued expenses related to trade creditors | 1,647 | 1,564 |
Accrued expenses and other current liabilities | 1,888 | 1,675 |
Other noncurrent liabilities | 4,130 | 3,790 |
Comcast And Consolidated Subsidiaries [Member] | NBCUniversal Media LLC [Member] | ||
Related Party Transaction [Line Items] | ||
Receivables, net | 285 | 239 |
Accounts payable and accrued expenses related to trade creditors | 55 | 68 |
Accrued expenses and other current liabilities | 4 | 51 |
Note payable to Comcast | 2,703 | 1,750 |
Other noncurrent liabilities | $ 389 | $ 383 |
Related Party Transactions (C58
Related Party Transactions (Condensed Consolidated Statement of Income) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Related Party Transaction [Line Items] | |||||||||||
Revenue | $ 21,025 | $ 21,319 | $ 19,269 | $ 18,790 | $ 19,245 | $ 18,669 | $ 18,743 | $ 17,853 | $ 80,403 | $ 74,510 | $ 68,775 |
NBCUniversal Media LLC [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Revenue | 31,593 | 28,462 | 25,428 | ||||||||
Comcast And Consolidated Subsidiaries [Member] | NBCUniversal Media LLC [Member] | |||||||||||
Related Party Transaction [Line Items] | |||||||||||
Revenue | 1,742 | 1,349 | 1,315 | ||||||||
Operating costs and expenses | (220) | (246) | (162) | ||||||||
Other income (expense) | $ (69) | $ (37) | $ (43) |
Film and Television Costs (Sche
Film and Television Costs (Schedule) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Film Costs: | ||
Released, less amortization | $ 1,750 | $ 1,275 |
Completed, not released | 50 | 226 |
In production and in development | 1,310 | 907 |
Total film costs | 3,110 | 2,408 |
Television Costs: | ||
Released, less amortization | 1,953 | 1,573 |
In production and in development | 853 | 737 |
Total television costs | 2,806 | 2,310 |
Programming rights, less amortization | 2,586 | 2,350 |
Total film costs, television costs and programming rights | 8,502 | 7,068 |
Less: Current portion of programming rights | 1,250 | 1,213 |
Film and television costs | 7,252 | 5,855 |
NBCUniversal Media LLC [Member] | ||
Film Costs: | ||
Released, less amortization | 1,750 | 1,275 |
Completed, not released | 50 | 226 |
In production and in development | 1,310 | 907 |
Total film costs | 3,110 | 2,408 |
Television Costs: | ||
Released, less amortization | 1,953 | 1,573 |
In production and in development | 853 | 737 |
Total television costs | 2,806 | 2,310 |
Programming rights, less amortization | 2,570 | 2,329 |
Total film costs, television costs and programming rights | 8,486 | 7,047 |
Less: Current portion of programming rights | 1,241 | 1,200 |
Film and television costs | $ 7,245 | $ 5,847 |
Film and Television Costs (Narr
Film and Television Costs (Narrative)(Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Film And Television Cost [Line Items] | |||
Amortization of completed film and television production expected to be amortized during the next fiscal year | $ 1,900 | ||
Expected amortization percentage of released and unamortized film and television costs during the next three fiscal years | 88.00% | ||
Remaining unamortized costs of acquired film and television libraries | $ 596 | ||
Expected amortization percentage of unamortized acquired film and television library costs during the next three fiscal years | 45.00% | ||
Maximum [Member] | |||
Film And Television Cost [Line Items] | |||
Amortization period of acquired film and television library costs | 20 years | ||
NBCUniversal Media LLC [Member] | |||
Film And Television Cost [Line Items] | |||
Amortization of completed film and television production expected to be amortized during the next fiscal year | $ 1,900 | ||
Expected amortization percentage of released and unamortized film and television costs during the next three fiscal years | 88.00% | ||
Remaining unamortized costs of acquired film and television libraries | $ 596 | ||
Expected amortization percentage of unamortized acquired film and television library costs during the next three fiscal years | 45.00% | ||
NBCUniversal Media LLC [Member] | Maximum [Member] | |||
Film And Television Cost [Line Items] | |||
Amortization period of acquired film and television library costs | 20 years | ||
Adjustments To Capitalized Film And Stage Play Production Costs [Member] | |||
Film And Television Cost [Line Items] | |||
Adjustments to capitalized film and stage play production costs | $ 14 | $ 42 | $ 26 |
Adjustments To Capitalized Film And Stage Play Production Costs [Member] | NBCUniversal Media LLC [Member] | |||
Film And Television Cost [Line Items] | |||
Adjustments to capitalized film and stage play production costs | $ 14 | $ 42 | $ 26 |
Investments (Schedule of Invest
Investments (Schedule of Investments) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Fair Value, Equity And Cost Method Investments [Line Items] | ||
Fair Value Method | $ 198 | $ 167 |
Equity method | 2,376 | 678 |
Cost method | 2,770 | 2,485 |
Total Investments | 5,344 | 3,330 |
Less: Current investments | 97 | 106 |
Noncurrent investments | 5,247 | 3,224 |
Atairos [Member] | ||
Fair Value, Equity And Cost Method Investments [Line Items] | ||
Equity method | 1,601 | 0 |
Hulu [Member] | ||
Fair Value, Equity And Cost Method Investments [Line Items] | ||
Equity method | 225 | 184 |
Other Equity Method Investments [Member] | ||
Fair Value, Equity And Cost Method Investments [Line Items] | ||
Equity method | 550 | 494 |
Air Touch [Member] | ||
Fair Value, Equity And Cost Method Investments [Line Items] | ||
Cost method | 1,599 | 1,583 |
BuzzFeed [Member] | ||
Fair Value, Equity And Cost Method Investments [Line Items] | ||
Cost method | 400 | 200 |
Other Cost Method Investments [Member] | ||
Fair Value, Equity And Cost Method Investments [Line Items] | ||
Cost method | 771 | 702 |
NBCUniversal Media LLC [Member] | ||
Fair Value, Equity And Cost Method Investments [Line Items] | ||
Fair Value Method | 6 | 10 |
Equity method | 561 | 497 |
Cost method | 696 | 458 |
Noncurrent investments | 1,263 | 965 |
NBCUniversal Media LLC [Member] | Hulu [Member] | ||
Fair Value, Equity And Cost Method Investments [Line Items] | ||
Equity method | 225 | 184 |
NBCUniversal Media LLC [Member] | Other Equity Method Investments [Member] | ||
Fair Value, Equity And Cost Method Investments [Line Items] | ||
Equity method | 336 | 313 |
NBCUniversal Media LLC [Member] | BuzzFeed [Member] | ||
Fair Value, Equity And Cost Method Investments [Line Items] | ||
Cost method | 400 | 200 |
NBCUniversal Media LLC [Member] | Other Cost Method Investments [Member] | ||
Fair Value, Equity And Cost Method Investments [Line Items] | ||
Cost method | $ 296 | $ 258 |
Investments (Investment Income
Investments (Investment Income (Loss), Net) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Investments, Debt and Equity Securities [Abstract] | |||
Gains on sales and exchanges of investments, net | $ 46 | $ 12 | $ 192 |
Investment impairment losses | (34) | (59) | (50) |
Unrealized gains (losses) on securities underlying prepaid forward sale agreements | 0 | 42 | 66 |
Mark to market adjustments on derivative component of prepaid forward sale agreements and indexed debt instruments | (4) | (42) | (56) |
Interest and dividend income | 123 | 115 | 116 |
Other, net | 82 | 13 | 28 |
Investment income (loss), net | $ 213 | $ 81 | $ 296 |
Investments (Equity Method Inve
Investments (Equity Method Investments) (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | ||||
Aug. 31, 2016 | Jan. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Jul. 31, 2016 | |
Schedule of Equity Method Investments [Line Items] | ||||||
Equity in net losses of investees | $ 104 | $ 325 | $ (97) | |||
NBCUniversal Media LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Equity in net losses of investees | $ 99 | 376 | (46) | |||
Atairos [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Term of agreement | 12 years | |||||
Funding commitment | $ 4,000 | |||||
Management fee funding commitment | $ 40 | |||||
Percent of losses | 99.00% | |||||
Percentage of residual returns | 86.50% | |||||
Purchases of investments | $ 1,200 | |||||
Capital Contribution to VIE accrued but not yet paid | 447 | |||||
Atairos [Member] | Maximum [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Funding commitment by management company investors | 100 | |||||
Atairos [Member] | Former CFO [Member] | Minimum [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Funding commitment by management company investors | 40 | |||||
Hulu [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership percentage | 30.00% | 33.00% | ||||
Put/Call Period | 3 years | |||||
Deferred gain | $ 159 | |||||
Equity in net losses of investees | 168 | 106 | 20 | |||
Hulu [Member] | NBCUniversal Media LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership percentage | 30.00% | 33.00% | ||||
Put/Call Period | 3 years | |||||
Deferred gain | $ 159 | |||||
Equity in net losses of investees | $ 168 | 106 | $ 20 | |||
The Weather Channel [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Pretax gain on sale of investment | $ 108 | |||||
Goodwill impairment loss from equity method investments | 333 | |||||
The Weather Channel [Member] | NBCUniversal Media LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Pretax gain on sale of investment | $ 108 | |||||
Goodwill impairment loss from equity method investments | $ 333 | |||||
Time Warner, Inc. [Member] | Hulu [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership percentage | 10.00% | |||||
Time Warner, Inc. [Member] | Hulu [Member] | NBCUniversal Media LLC [Member] | ||||||
Schedule of Equity Method Investments [Line Items] | ||||||
Ownership percentage | 10.00% |
Investments (Equity Method In64
Investments (Equity Method Investments Summarized Financial Information) (Details) - NBCUniversal Media LLC [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Schedule of Equity Method Investments [Line Items] | |||
Current assets | $ 2,105 | $ 1,904 | |
Noncurrent assets | 2,724 | 3,584 | |
Current liabilities | 1,921 | 1,225 | |
Noncurrent liabilities | 2,853 | 4,879 | |
Revenue | 4,285 | 3,944 | $ 3,756 |
Operating income (loss) | (182) | (1,609) | 483 |
Net income (loss) | $ (313) | $ (1,820) | $ 243 |
Investments (Cost Method Invest
Investments (Cost Method Investments) (Details) $ in Millions | 12 Months Ended | |||
Dec. 31, 2016USD ($)preferred_stock_series | Nov. 30, 2016USD ($) | Dec. 31, 2015USD ($) | Sep. 30, 2015USD ($) | |
BuzzFeed [Member] | ||||
Schedule of Cost-method Investments [Line Items] | ||||
Purchases of investments | $ 200 | $ 200 | ||
Air Touch [Member] | ||||
Schedule of Cost-method Investments [Line Items] | ||||
Number of preferred stock series | preferred_stock_series | 2 | |||
Preferred stock aggregate redemption value | $ 1,650 | |||
NBCUniversal Media LLC [Member] | Vox Media [Member] | ||||
Schedule of Cost-method Investments [Line Items] | ||||
Purchases of investments | 200 | |||
NBCUniversal Media LLC [Member] | BuzzFeed [Member] | ||||
Schedule of Cost-method Investments [Line Items] | ||||
Purchases of investments | $ 200 | $ 200 | ||
Air Touch [Member] | ||||
Schedule of Cost-method Investments [Line Items] | ||||
Number of preferred stock series | preferred_stock_series | 3 | |||
Preferred stock aggregate redemption value | $ 1,750 | |||
Redeemable subsidiary preferred shares | 1,600 | $ 1,600 | ||
Nonredeemable subsidiary preferred shares | 100 | 100 | ||
Level 2 [Member] | Air Touch [Member] | ||||
Schedule of Cost-method Investments [Line Items] | ||||
Fair value of cost method Investment redeemable preferred shares | 1,700 | 1,700 | ||
Level 2 [Member] | Air Touch [Member] | ||||
Schedule of Cost-method Investments [Line Items] | ||||
Fair value of redeemable preferred shares | $ 1,700 | $ 1,700 |
Property and Equipment (Details
Property and Equipment (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Property, Plant and Equipment [Line Items] | ||
Property and equipment, at cost | $ 85,947 | $ 81,765 |
Less: Accumulated depreciation | 49,694 | 48,100 |
Property and equipment, net | 36,253 | 33,665 |
NBCUniversal Media LLC [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, at cost | 13,861 | 12,300 |
Less: Accumulated depreciation | 3,350 | 2,779 |
Property and equipment, net | $ 10,511 | 9,521 |
Cable Distribution System [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Weighted-Average Original Useful Life | 11 years | |
Property and equipment, at cost | $ 34,028 | 32,586 |
Customer Premise Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Weighted-Average Original Useful Life | 6 years | |
Property and equipment, at cost | $ 28,621 | 28,559 |
Other Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Weighted-Average Original Useful Life | 8 years | |
Property and equipment, at cost | $ 9,475 | 8,539 |
Building and Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Weighted-Average Original Useful Life | 29 years | |
Property and equipment, at cost | $ 12,550 | 10,829 |
Building and Leasehold Improvements [Member] | NBCUniversal Media LLC [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Weighted-Average Original Useful Life | 30 years | |
Property and equipment, at cost | $ 7,543 | 6,543 |
Furniture, Fixtures and Equipment [Member] | NBCUniversal Media LLC [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Weighted-Average Original Useful Life | 11 years | |
Property and equipment, at cost | $ 4,158 | 3,457 |
Construction in Process [Member] | NBCUniversal Media LLC [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, at cost | 1,176 | 1,339 |
Land [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, at cost | 1,273 | 1,252 |
Land [Member] | NBCUniversal Media LLC [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, at cost | $ 984 | $ 961 |
Goodwill and Intangible Asset67
Goodwill and Intangible Assets (Schedule of Change in Goodwill) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Goodwill [Roll Forward] | ||
Balance, beginning of period | $ 32,945 | $ 27,316 |
Acquisitions | 3,032 | 5,661 |
Adjustments | (257) | (1) |
Foreign currency translation | (260) | 31 |
Balance, end of period | 35,980 | 32,945 |
NBCUniversal Media LLC [Member] | ||
Goodwill [Roll Forward] | ||
Balance, beginning of period | 20,364 | 14,908 |
Acquisitions | 2,949 | 5,487 |
Adjustments | (250) | |
Foreign currency translation | (260) | 31 |
Balance, end of period | 23,323 | 20,364 |
Operating Segments [Member] | Cable Communications [Member] | ||
Goodwill [Roll Forward] | ||
Balance, beginning of period | 12,389 | 12,217 |
Acquisitions | 82 | 173 |
Adjustments | 174 | (1) |
Foreign currency translation | 0 | 0 |
Balance, end of period | 12,645 | 12,389 |
Operating Segments [Member] | Cable Networks [Member] | ||
Goodwill [Roll Forward] | ||
Balance, beginning of period | 12,947 | 12,948 |
Acquisitions | 232 | 17 |
Adjustments | 0 | 0 |
Foreign currency translation | (4) | 18 |
Balance, end of period | 13,183 | 12,947 |
Operating Segments [Member] | Cable Networks [Member] | NBCUniversal Media LLC [Member] | ||
Goodwill [Roll Forward] | ||
Balance, beginning of period | 12,947 | 12,948 |
Acquisitions | 232 | 17 |
Adjustments | 0 | |
Foreign currency translation | (4) | 18 |
Balance, end of period | 13,183 | 12,947 |
Operating Segments [Member] | Broadcast Television [Member] | ||
Goodwill [Roll Forward] | ||
Balance, beginning of period | 806 | 767 |
Acquisitions | 0 | 39 |
Adjustments | 0 | 0 |
Foreign currency translation | 0 | 0 |
Balance, end of period | 806 | 806 |
Operating Segments [Member] | Broadcast Television [Member] | NBCUniversal Media LLC [Member] | ||
Goodwill [Roll Forward] | ||
Balance, beginning of period | 806 | 767 |
Acquisitions | 0 | 39 |
Adjustments | 0 | |
Foreign currency translation | 0 | 0 |
Balance, end of period | 806 | 806 |
Operating Segments [Member] | Filmed Entertainment [Member] | ||
Goodwill [Roll Forward] | ||
Balance, beginning of period | 267 | 211 |
Acquisitions | 2,717 | 58 |
Adjustments | 0 | 0 |
Foreign currency translation | (9) | 2 |
Balance, end of period | 2,993 | 267 |
Operating Segments [Member] | Filmed Entertainment [Member] | NBCUniversal Media LLC [Member] | ||
Goodwill [Roll Forward] | ||
Balance, beginning of period | 267 | 211 |
Acquisitions | 2,717 | 58 |
Adjustments | 0 | |
Foreign currency translation | (9) | 2 |
Balance, end of period | 2,993 | 267 |
Operating Segments [Member] | Theme Parks [Member] | ||
Goodwill [Roll Forward] | ||
Balance, beginning of period | 6,344 | 982 |
Acquisitions | 0 | 5,373 |
Adjustments | (250) | 0 |
Foreign currency translation | (247) | 11 |
Balance, end of period | 6,341 | 6,344 |
Operating Segments [Member] | Theme Parks [Member] | NBCUniversal Media LLC [Member] | ||
Goodwill [Roll Forward] | ||
Balance, beginning of period | 6,344 | 982 |
Acquisitions | 0 | 5,373 |
Adjustments | (250) | |
Foreign currency translation | (247) | 11 |
Balance, end of period | 6,341 | 6,344 |
Corporate, Non-Segment [Member] | ||
Goodwill [Roll Forward] | ||
Balance, beginning of period | 192 | 191 |
Acquisitions | 1 | 1 |
Adjustments | (181) | 0 |
Foreign currency translation | 0 | 0 |
Balance, end of period | $ 12 | $ 192 |
Goodwill and Intangible Asset68
Goodwill and Intangible Assets (Intangible Assets) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Schedule of Indefinite and Finite-Lived Intangible Assets [Line Items] | ||
Total | $ 87,651 | $ 86,178 |
Finite-Lived Intangible Assets [Line Items] | ||
Accumulated Amortization | $ (11,013) | (9,868) |
Customer Relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Original Useful Life | 19 years | |
Gross Carrying Amount | $ 13,478 | 13,396 |
Accumulated Amortization | $ (5,110) | (4,442) |
Software [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Original Useful Life | 4 years | |
Gross Carrying Amount | $ 7,017 | 6,008 |
Accumulated Amortization | $ (3,997) | (3,429) |
Cable franchise renewal costs and contractual operating rights [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Original Useful Life | 9 years | |
Gross Carrying Amount | $ 1,460 | 1,499 |
Accumulated Amortization | $ (800) | (849) |
Patents and other technology rights [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Original Useful Life | 7 years | |
Gross Carrying Amount | $ 257 | 409 |
Accumulated Amortization | $ (208) | (350) |
Other agreements and rights [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Original Useful Life | 15 years | |
Gross Carrying Amount | $ 2,443 | 1,994 |
Accumulated Amortization | (898) | (798) |
Franchise Rights [Member] | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 59,364 | 59,364 |
Trade Names [Member] | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 2,981 | 2,857 |
FCC Licenses [Member] | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 651 | 651 |
NBCUniversal Media LLC [Member] | ||
Schedule of Indefinite and Finite-Lived Intangible Assets [Line Items] | ||
Total | 20,345 | 19,460 |
Finite-Lived Intangible Assets [Line Items] | ||
Accumulated Amortization | $ (6,568) | (5,654) |
NBCUniversal Media LLC [Member] | Customer Relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Original Useful Life | 19 years | |
Gross Carrying Amount | $ 13,173 | 13,107 |
Accumulated Amortization | $ (4,952) | (4,291) |
NBCUniversal Media LLC [Member] | Software [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Original Useful Life | 5 years | |
Gross Carrying Amount | $ 1,195 | 849 |
Accumulated Amortization | $ (563) | (431) |
NBCUniversal Media LLC [Member] | Other agreements and rights [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted-Average Original Useful Life | 15 years | |
Gross Carrying Amount | $ 2,345 | 1,996 |
Accumulated Amortization | (1,053) | (932) |
NBCUniversal Media LLC [Member] | Trade Names [Member] | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 2,981 | 2,857 |
NBCUniversal Media LLC [Member] | FCC Licenses [Member] | ||
Indefinite-lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 651 | $ 651 |
Goodwill and Intangible Asset69
Goodwill and Intangible Assets (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2016divisionsegment | |
Segment Reporting Information [Line Items] | |
Number of reportable segments | 5 |
NBCUniversal Media LLC [Member] | |
Segment Reporting Information [Line Items] | |
Number of reportable segments | 4 |
Cable Communications [Member] | |
Segment Reporting Information [Line Items] | |
Number of reportable segments | 1 |
Cable Communications [Member] | Operating Segments [Member] | |
Segment Reporting Information [Line Items] | |
Number of divisions | division | 3 |
Software [Member] | |
Segment Reporting Information [Line Items] | |
Finite-lived intangible asset amortization period | 4 years |
Software [Member] | Maximum [Member] | |
Segment Reporting Information [Line Items] | |
Finite-lived intangible asset amortization period | 5 years |
Software [Member] | NBCUniversal Media LLC [Member] | |
Segment Reporting Information [Line Items] | |
Finite-lived intangible asset amortization period | 5 years |
Software [Member] | NBCUniversal Media LLC [Member] | Maximum [Member] | |
Segment Reporting Information [Line Items] | |
Finite-lived intangible asset amortization period | 5 years |
Goodwill and Intangible Asset70
Goodwill and Intangible Assets (Amortization of Intangible Assets) (Details) $ in Millions | Dec. 31, 2016USD ($) |
Estimated Amortization Expense of Finite-Lived Intangible Assets | |
2,017 | $ 2,077 |
2,018 | 1,828 |
2,019 | 1,475 |
2,020 | 1,168 |
2,021 | 939 |
NBCUniversal Media LLC [Member] | |
Estimated Amortization Expense of Finite-Lived Intangible Assets | |
2,017 | 946 |
2,018 | 929 |
2,019 | 900 |
2,020 | 873 |
2,021 | $ 804 |
Long-Term Debt (Schedule of Deb
Long-Term Debt (Schedule of Debt Outstanding) (Details) £ in Millions, $ in Millions, ¥ in Billions | Dec. 31, 2016USD ($) | Dec. 31, 2016JPY (¥) | Dec. 31, 2016GBP (£) | Dec. 31, 2015USD ($) | Dec. 31, 2015JPY (¥) | Dec. 31, 2015GBP (£) |
Debt Instrument [Line Items] | ||||||
Weighted-Average Interest Rate | 4.50% | 4.50% | 4.50% | |||
Commercial paper | $ 2,781 | $ 975 | ||||
Revolving bank credit facilities | 0 | 0 | ||||
Debt issuance costs, premiums, discounts and fair value adjustments for hedged positions, net | (325) | (262) | ||||
Total debt | 61,046 | 52,621 | ||||
Less: Current portion | 5,480 | 3,627 | ||||
Long-term debt | $ 55,566 | 48,994 | ||||
Commercial Paper [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Weighted-Average Interest Rate | 1.01% | 1.01% | 1.01% | |||
Universal Studios Japan Term Loans [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Weighted-Average Interest Rate | 2.93% | 2.93% | 2.93% | |||
Term loans | $ 3,262 | ¥ 382 | 3,259 | ¥ 400 | ||
Senior notes with maturities of 5 years or less, at face value [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Weighted-Average Interest Rate | 4.68% | 4.68% | 4.68% | |||
Senior notes | $ 13,850 | 14,300 | ||||
Senior notes with maturities between 5 and 10 years, at face value [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Weighted-Average Interest Rate | 3.86% | 3.86% | 3.86% | |||
Senior notes | $ 12,049 | 9,630 | ||||
Senior notes with maturities greater than 10 years, at face value [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Weighted-Average Interest Rate | 5.19% | 5.19% | 5.19% | |||
Senior notes | $ 28,587 | 23,925 | ||||
Other Including Capital Lease Obligations [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Other, including capital lease obligations | 842 | 794 | ||||
Notes 5.50% Due 2029 [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Senior notes | $ 771 | £ 625 | $ 921 | £ 625 | ||
Interest rate | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% | 5.50% |
NBCUniversal Media LLC [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Weighted-Average Interest Rate | 4.38% | 4.38% | 4.38% | |||
Debt issuance costs, premiums, discounts and fair value adjustments for hedged positions, net | $ (12) | $ (12) | ||||
Total debt | 11,588 | 12,494 | ||||
Less: Current portion | 127 | 1,163 | ||||
Long-term debt | $ 11,461 | 11,331 | ||||
NBCUniversal Media LLC [Member] | Universal Studios Japan Term Loans [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Weighted-Average Interest Rate | 2.93% | 2.93% | 2.93% | |||
Term loans | $ 3,262 | ¥ 382 | 3,259 | ¥ 400 | ||
NBCUniversal Media LLC [Member] | Senior notes with maturities of 5 years or less, at face value [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Weighted-Average Interest Rate | 4.76% | 4.76% | 4.76% | |||
Senior notes | $ 4,000 | 3,000 | ||||
NBCUniversal Media LLC [Member] | Senior notes with maturities between 5 and 10 years, at face value [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Weighted-Average Interest Rate | 2.88% | 2.88% | 2.88% | |||
Senior notes | $ 1,000 | 3,000 | ||||
NBCUniversal Media LLC [Member] | Senior notes with maturities greater than 10 years, at face value [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Weighted-Average Interest Rate | 5.62% | 5.62% | 5.62% | |||
Senior notes | $ 3,200 | 3,200 | ||||
NBCUniversal Media LLC [Member] | Other Including Capital Lease Obligations [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Other, including capital lease obligations | $ 138 | $ 47 |
Long-Term Debt (Debt Maturities
Long-Term Debt (Debt Maturities) (Details) $ in Millions | Dec. 31, 2016USD ($) |
Long-term Debt, Fiscal Year Maturity [Abstract] | |
2,017 | $ 5,483 |
2,018 | 4,203 |
2,019 | 2,466 |
2,020 | 6,217 |
2,021 | 2,043 |
Thereafter | $ 40,959 |
Long-term Debt, Weighted-average Interest Rate, Fiscal Year Maturity [Abstract] | |
2,017 | 4.22% |
2,018 | 4.05% |
2,019 | 3.11% |
2,020 | 4.18% |
2,021 | 4.36% |
Thereafter | 4.82% |
NBCUniversal Media LLC [Member] | |
Long-term Debt, Fiscal Year Maturity [Abstract] | |
2,017 | $ 127 |
2,018 | 148 |
2,019 | 247 |
2,020 | 4,797 |
2,021 | 2,008 |
Thereafter | $ 4,273 |
Long-term Debt, Weighted-average Interest Rate, Fiscal Year Maturity [Abstract] | |
2,017 | 2.94% |
2,018 | 3.15% |
2,019 | 2.74% |
2,020 | 3.90% |
2,021 | 4.40% |
Thereafter | 5.04% |
Long-Term Debt (Debt Borrowings
Long-Term Debt (Debt Borrowings) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Debt Instrument [Line Items] | |||
Proceeds from borrowings | $ 9,231 | $ 5,486 | $ 4,182 |
Senior 3.15% Notes Due 2026 [Member] | |||
Debt Instrument [Line Items] | |||
Debt face amount | $ 2,200 | ||
Interest rate | 3.15% | ||
Senior 4.05% Notes Due 2046 [Member] | |||
Debt Instrument [Line Items] | |||
Debt face amount | $ 1,430 | ||
Interest rate | 4.05% | ||
Senior 2.35% Notes Due 2027 [Member] | |||
Debt Instrument [Line Items] | |||
Debt face amount | $ 1,400 | ||
Interest rate | 2.35% | ||
Senior 3.40% Notes Due 2046 [Member] | |||
Debt Instrument [Line Items] | |||
Debt face amount | $ 1,400 | ||
Interest rate | 3.40% | ||
Senior 2.75% Notes Due 2023 [Member] | |||
Debt Instrument [Line Items] | |||
Debt face amount | $ 1,100 | ||
Interest rate | 2.75% | ||
Senior 3.20% Notes Due 2036 [Member] | |||
Debt Instrument [Line Items] | |||
Debt face amount | $ 1,000 | ||
Interest rate | 3.20% | ||
Senior 1.625% Notes Due 2022 [Member] | |||
Debt Instrument [Line Items] | |||
Debt face amount | $ 700 | ||
Interest rate | 1.625% | ||
Other Borrowings [Member] | |||
Debt Instrument [Line Items] | |||
Other Borrowings | $ 1 |
Long-Term Debt (Debt Repayments
Long-Term Debt (Debt Repayments) (Details) - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | ||
Apr. 30, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Debt Instrument [Line Items] | ||||
Repurchases and repayments of debt | $ 3,052 | $ 4,378 | $ 3,175 | |
NBCUniversal Media LLC [Member] | ||||
Debt Instrument [Line Items] | ||||
Repurchases and repayments of debt | 1,565 | $ 1,022 | $ 906 | |
Senior 2.875% Notes Due 2016 [Member] | ||||
Debt Instrument [Line Items] | ||||
Repurchases and repayments of debt | $ 1,000 | |||
Interest rate | 2.875% | |||
Senior 2.875% Notes Due 2016 [Member] | NBCUniversal Media LLC [Member] | ||||
Debt Instrument [Line Items] | ||||
Repurchases and repayments of debt | $ 1,000 | |||
Interest rate | 2.875% | |||
Senior 4.95% Notes Due 2016 [Member] | ||||
Debt Instrument [Line Items] | ||||
Repurchases and repayments of debt | $ 750 | |||
Interest rate | 4.95% | |||
NBCUniversal Enterprise Senior Notes Due 2016 [Member] | ||||
Debt Instrument [Line Items] | ||||
Repurchases and repayments of debt | $ 700 | |||
DreamWorks Assumed Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Repayments of Assumed Debt | 381 | |||
Other Long-Term Debt [Member] | ||||
Debt Instrument [Line Items] | ||||
Repurchases and repayments of debt | 221 | |||
DreamWorks Animation [Member] | NBCUniversal Media LLC [Member] | ||||
Debt Instrument [Line Items] | ||||
Repayments of Assumed Debt | $ 381 |
Long-Term Debt (Narrative) (Det
Long-Term Debt (Narrative) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | May 31, 2016 | Dec. 31, 2015 | |
Debt Instrument [Line Items] | |||
Fair value of debt | $ 66,300,000,000 | $ 58,000,000,000 | |
Amounts available under revolving credit facilities | 5,500,000,000 | ||
Unused irrevocable standby letters of credit | $ 443,000,000 | ||
NBCUniversal Enterprise Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Maximum borrowing capacity | $ 1,500,000,000 | ||
Potential increase of maximum borrowing capacity | 2,000,000,000 | ||
Borrowing margin for LIBOR based borrowings | 1.00% | ||
Amounts available under revolving credit facilities | $ 460,000,000 | ||
Former Comcast And Comcast Cable Communications, LLC Revolving Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Maximum borrowing capacity | 6,250,000,000 | ||
Former NBCUniversal Enterprise Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Maximum borrowing capacity | 1,350,000,000 | ||
Commercial Paper [Member] | |||
Debt Instrument [Line Items] | |||
Commercial paper capacity | 6,250,000,000 | ||
NBCUniversal Enterprise Commercial Paper [Member] | |||
Debt Instrument [Line Items] | |||
Commercial paper capacity | 1,350,000,000 | ||
Comcast Revolving Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Maximum borrowing capacity | 7,000,000,000 | ||
Potential increase of maximum borrowing capacity | $ 10,000,000,000 | ||
NBCUniversal Media LLC [Member] | |||
Debt Instrument [Line Items] | |||
Fair value of debt | $ 12,600,000,000 | $ 13,400,000,000 | |
Ownership in cable holding company subsidiaries | 100.00% | ||
NBCUniversal Media LLC [Member] | Comcast And Comcast Cable Debt Securities [Member] | |||
Debt Instrument [Line Items] | |||
Principal amount of debt securities subject to guarantee | $ 44,700,000,000 | ||
NBCUniversal Media LLC [Member] | Comcast Revolving Credit Facility [Member] | |||
Debt Instrument [Line Items] | |||
Principal amount of debt securities subject to guarantee | 7,000,000,000 | ||
NBCUniversal Enterprise [Member] | NBCUniversal Media LLC [Member] | |||
Debt Instrument [Line Items] | |||
Related party aggregate principal amount senior notes not subject to guarantee | 3,300,000,000 | ||
Related party credit facility not subject to guarantee | 1,500,000,000 | ||
Related party liquidation preference preferred stock not subject to guarantee | $ 725,000,000 |
Postretirement, Pension and O76
Postretirement, Pension and Other Employee Benefit Plans (Information On Our Pension Benefit Plans) (Details) - Postretirement Benefit Plan [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Benefit obligation | $ 538 | $ 820 | $ 837 |
Plan funded status and recorded benefit obligation | (538) | (820) | (837) |
Portion of benefit obligation not yet recognized in benefits expense | (372) | (33) | 46 |
Benefits expense | 70 | 75 | $ 59 |
Discount rate | 4.25% | ||
NBCUniversal Media LLC [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Benefit obligation | 192 | 197 | $ 209 |
Plan funded status and recorded benefit obligation | (192) | (197) | (209) |
Portion of benefit obligation not yet recognized in benefits expense | (42) | (27) | (3) |
Benefits expense | $ 13 | $ 15 | $ 12 |
Discount rate | 4.56% | 4.73% | 4.25% |
Minimum [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Discount rate | 4.07% | 4.70% | |
Maximum [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Discount rate | 4.56% | 4.73% |
Postretirement, Pension and O77
Postretirement, Pension and Other Employee Benefit Plans (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Multiemployer Plans, Funded Status | At least 80 percent | ||
Severance Costs | $ 315 | $ 181 | $ 152 |
Minimum [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Funded percentage | 80.00% | ||
DreamWorks Animation [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Severance Costs | $ 61 | ||
NBCUniversal Media LLC [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Multiemployer Plans, Funded Status | At least 80 percent | ||
Severance Costs | $ 165 | 113 | 113 |
NBCUniversal Media LLC [Member] | Minimum [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Funded percentage | 80.00% | ||
NBCUniversal Media LLC [Member] | DreamWorks Animation [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Severance Costs | $ 61 | ||
Pension Plan [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Benefit obligation | 314 | 309 | |
Mutliemployer plan contributions | 84 | 77 | 58 |
Pension Plan [Member] | NBCUniversal Media LLC [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Benefit obligation | 314 | 309 | |
Mutliemployer plan contributions | 84 | 77 | 58 |
NBCUniversal Legacy Qualified Pension Plans [Member] | NBCUniversal Media LLC [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Benefit obligations in excess of plan assets | 62 | 67 | |
Deferred Compensation Plans [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Cash surrender value of life insurance policies | 709 | 658 | |
Retirement Investment Plans [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Expenses related to retirement investment plans | 446 | 416 | 379 |
Retirement Investment Plans [Member] | NBCUniversal Media LLC [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Expenses related to retirement investment plans | 185 | 174 | 165 |
Postretirement and Other Benefits [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Mutliemployer plan contributions | 136 | 119 | 125 |
Postretirement and Other Benefits [Member] | NBCUniversal Media LLC [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Mutliemployer plan contributions | 136 | $ 119 | $ 125 |
Stipend Plan [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Reduction of benefit obligations due to plan amendments | $ 361 |
Postretirement, Pension and O78
Postretirement, Pension and Other Employee Benefit Plans (Deferred Compensation Plans) (Details) - Deferred Compensation Plans [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Benefit obligation | $ 2,164 | $ 2,038 | $ 1,774 |
Interest expense | 178 | 171 | 149 |
NBCUniversal Media LLC [Member] | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Benefit obligation | 494 | 417 | 349 |
Interest expense | $ 48 | $ 28 | $ 24 |
Equity (Narrative) (Details)
Equity (Narrative) (Details) $ in Billions | Dec. 11, 2015shares | Dec. 31, 2016USD ($)vote |
Equity [Line Items] | ||
Number of votes entitled of each class B common stock | vote | 15 | |
Shares awarded per exchanged share (in shares) | shares | 1 | |
New Authorization [Member] | ||
Equity [Line Items] | ||
Stock repurchase program, authorized amount | $ | $ 12 | |
Class A Common Stock [Member] | ||
Equity [Line Items] | ||
Voting power | 66.67% | |
Class B Common Stock [Member] | ||
Equity [Line Items] | ||
Voting power | 33.33% |
Equity (Changes in Common Stock
Equity (Changes in Common Stock) (Details) - shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Class A Common Stock [Member] | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Common stock, shares outstanding at beginning of period (in shares) | 2,432,953,988 | 2,131,000,000 | 2,138,000,000 |
Stock compensation plans (in shares) | 11,000,000 | 12,000,000 | 13,000,000 |
Repurchases and retirements of common stock (in shares) | (81,000,000) | (62,000,000) | (22,000,000) |
Employee stock purchase plan (in shares) | 3,000,000 | 2,000,000 | 2,000,000 |
Reclassification of Class A Special common stock (in shares) | 346,000,000 | ||
Other (in shares) | 4,000,000 | ||
Common stock, shares outstanding at end of period (in shares) | 2,366,357,318 | 2,432,953,988 | 2,131,000,000 |
Class A Special Common Stock [Member] | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Common stock, shares outstanding at beginning of period (in shares) | 0 | 400,000,000 | 459,000,000 |
Stock compensation plans (in shares) | 0 | 0 | 0 |
Repurchases and retirements of common stock (in shares) | 0 | (54,000,000) | (59,000,000) |
Employee stock purchase plan (in shares) | 0 | 0 | 0 |
Reclassification of Class A Special common stock (in shares) | (346,000,000) | ||
Other (in shares) | 0 | ||
Common stock, shares outstanding at end of period (in shares) | 0 | 0 | 400,000,000 |
Class B Common Stock [Member] | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||
Common stock, shares outstanding at beginning of period (in shares) | 9,444,375 | 9,000,000 | 9,000,000 |
Stock compensation plans (in shares) | 0 | 0 | 0 |
Repurchases and retirements of common stock (in shares) | 0 | 0 | 0 |
Employee stock purchase plan (in shares) | 0 | 0 | 0 |
Reclassification of Class A Special common stock (in shares) | 0 | ||
Other (in shares) | 0 | ||
Common stock, shares outstanding at end of period (in shares) | 9,444,375 | 9,444,375 | 9,000,000 |
Equity (Aggregate Share Repurch
Equity (Aggregate Share Repurchases) (Details) - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Equity, Class of Treasury Stock [Line Items] | |||
Cash consideration | $ 5,000 | $ 6,750 | $ 4,251 |
New Authorization [Member] | |||
Equity, Class of Treasury Stock [Line Items] | |||
Cash consideration | $ 5,000 | $ 6,750 | $ 4,251 |
Shares repurchased (in shares) | 81 | 116 | 81 |
Equity (Components of Accumulat
Equity (Components of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Equity [Abstract] | ||
Unrealized gains (losses) on marketable securities | $ 0 | $ 1 |
Deferred gains (losses) on cash flow hedges | (14) | (46) |
Unrecognized gains (losses) on employee benefit obligations | 219 | 6 |
Cumulative translation adjustments | (107) | (135) |
Accumulated other comprehensive income (loss) | $ 98 | $ (174) |
Share-Based Compensation (Narra
Share-Based Compensation (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Adjustments to Additional Paid in Capital, Income Tax Benefit from Share-based Compensation | $ 233 | $ 311 | $ 299 |
Share-based compensation arrangement by share-based payment award, award vesting period in years | 5 years | ||
NBCUniversal Media LLC [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based compensation arrangement by share-based payment award, award vesting period in years | 5 years | ||
Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Unrecognized pretax compensation expense on nonvested awards | $ 712 | ||
Unrecognized pretax compensation expense on nonvested awards, weighted average period of recognition (in years) | 1 year 8 months | ||
Restricted Stock Units (RSUs) [Member] | NBCUniversal Media LLC [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Unrecognized pretax compensation expense on nonvested awards | $ 204 | ||
Unrecognized pretax compensation expense on nonvested awards, weighted average period of recognition (in years) | 1 year 11 months | ||
Employee Stock Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Unrecognized pretax compensation expense on nonvested awards | $ 375 | ||
Unrecognized pretax compensation expense on nonvested awards, weighted average period of recognition (in years) | 1 year 9 months | ||
Period from grant date that an equity-based award expires | 10 years | ||
Employee Stock Option [Member] | NBCUniversal Media LLC [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Unrecognized pretax compensation expense on nonvested awards | $ 28 | ||
Unrecognized pretax compensation expense on nonvested awards, weighted average period of recognition (in years) | 1 year 9 months | ||
Period from grant date that an equity-based award expires | 10 years |
Share-Based Compensation (Recog
Share-Based Compensation (Recognized Share-Based Compensation Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Recognized share-based compensation expense | $ 507 | $ 455 | $ 414 |
NBCUniversal Media LLC [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Recognized share-based compensation expense | 99 | 94 | 91 |
Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Recognized share-based compensation expense | 306 | 273 | 231 |
Restricted Stock Units (RSUs) [Member] | NBCUniversal Media LLC [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Recognized share-based compensation expense | 82 | 78 | 69 |
Employee Stock Option [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Recognized share-based compensation expense | 173 | 157 | 160 |
Employee Stock Option [Member] | NBCUniversal Media LLC [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Recognized share-based compensation expense | 9 | 10 | 16 |
Employee Stock Purchase Plans [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Recognized share-based compensation expense | 28 | 25 | 23 |
Employee Stock Purchase Plans [Member] | NBCUniversal Media LLC [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Recognized share-based compensation expense | $ 8 | $ 6 | $ 6 |
Share-Based Compensation (Stock
Share-Based Compensation (Stock Options and Restricted Share Units) (Details) shares in Millions | 12 Months Ended |
Dec. 31, 2016$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Stock options granted (in shares) | 21 |
Weighted-average exercise price of awards granted during the year (in dollars per share) | $ / shares | $ 60.01 |
Stock options outstanding (in shares) | 95 |
Weighted-average exercise price of shares outstanding (in dollars per share) | $ / shares | $ 42.60 |
Restricted Stock Units (RSUs) [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Awards granted (in shares) | 8 |
Awards nonvested (in shares) | 22 |
Weighted-average fair value at grant date of nonvested awards (in dollars per share) | $ / shares | $ 52.11 |
Share-Based Compensation (Restr
Share-Based Compensation (Restricted Share Units and Stock Option Fair Value) (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock option fair value (in dollars per share) | $ 11.55 | $ 11.78 | $ 11.11 |
Stock Option Valuation Assumptions: | |||
Dividend yield | 1.80% | 1.70% | 1.80% |
Expected volatility | 23.00% | 23.00% | 24.00% |
Risk-free interest rate | 1.50% | 1.60% | 2.20% |
Expected option life (in years) | 6 years 1 month | 6 years | 6 years 6 months |
NBCUniversal Media LLC [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock option fair value (in dollars per share) | $ 13.17 | $ 11.79 | $ 11.09 |
Stock Option Valuation Assumptions: | |||
Dividend yield | 1.70% | 1.70% | 1.80% |
Expected volatility | 23.20% | 23.00% | 24.00% |
Risk-free interest rate | 1.50% | 1.60% | 2.20% |
Expected option life (in years) | 7 years 6 months | 6 years | 6 years 6 months |
Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Weighted average fair value of RSUs (in dollars per share) | $ 60.03 | $ 58.81 | $ 47.91 |
Restricted Stock Units (RSUs) [Member] | NBCUniversal Media LLC [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Weighted average fair value of RSUs (in dollars per share) | $ 59.58 | $ 59.37 | $ 48.04 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Taxes [Line Items] | |||
Deferred Tax Impact of a Purchase of Noncontrolling Interest | $ 129 | ||
Foreign income before taxes | 871 | $ 704 | $ 385 |
Deferred tax liability attributable to temporary differences in other comprehensive income | 158 | ||
Decrease in deferred income tax liabilities related to acquisitions | 226 | ||
Net deferred tax liability, franchise rights | 23,000 | ||
Liability for uncertain tax positions | 1,100 | ||
Unrecognized tax benefits that would impact effective tax rate | 600 | ||
Change in income tax expense related to effectively settled uncertain tax positions | $ 759 | ||
Unrecognized tax benefits, interest on income taxes accrued | 483 | 510 | |
Domestic Tax Authority [Member] | |||
Income Taxes [Line Items] | |||
Operating loss carryforwards | 598 | ||
Foreign Tax Authority [Member] | |||
Income Taxes [Line Items] | |||
Operating loss carryforwards | 431 | ||
Uncertain Tax Positions Indemnified By GE [Member] | |||
Income Taxes [Line Items] | |||
Liability for uncertain tax positions | 181 | ||
Unrecognized tax benefits, interest on income taxes accrued | $ 39 | $ 49 |
Income Taxes (Components of Inc
Income Taxes (Components of Income Tax Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Current Expense (Benefit): | |||
Federal | $ 3,190 | $ 3,210 | $ 2,392 |
State | 480 | 570 | 174 |
Foreign | 194 | 221 | 142 |
Current income tax expense (benefit) | 3,864 | 4,001 | 2,708 |
Deferred Expense (Benefit): | |||
Federal | 1,192 | 890 | 1,000 |
State | 154 | 66 | 173 |
Foreign | 98 | 2 | (8) |
Deferred income tax expense (benefit) | 1,444 | 958 | 1,165 |
Income tax expense | 5,308 | 4,959 | 3,873 |
NBCUniversal Media LLC [Member] | |||
Current Expense (Benefit): | |||
Foreign | 38 | 81 | 33 |
Deferred Expense (Benefit): | |||
Foreign | 96 | 2 | (8) |
Deferred income tax expense (benefit) | 89 | (11) | (12) |
Withholding tax expense | 158 | 139 | 108 |
U.S. domestic tax expense | 13 | 5 | 10 |
Income tax expense | $ 305 | $ 227 | $ 143 |
Income Taxes (Federal Statutory
Income Taxes (Federal Statutory) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Taxes [Line Items] | |||
Federal tax at statutory rate | $ 5,024 | $ 4,680 | $ 4,363 |
State income taxes, net of federal benefit | 373 | 326 | 329 |
Foreign income taxes, net of federal credit | 65 | 13 | 0 |
Nontaxable income attributable to noncontrolling interests | (128) | (69) | (62) |
Other adjustments | (67) | (79) | (114) |
Income tax expense | 5,308 | 4,959 | 3,873 |
Uncertain And Effectively Settled Tax Positions, Net [Member] | |||
Income Taxes [Line Items] | |||
Other adjustments | 24 | 15 | (408) |
Accrued Interest On Uncertain And Effectively Settled Tax Positions Net [Member] | |||
Income Taxes [Line Items] | |||
Other adjustments | $ 17 | $ 73 | $ (235) |
Income Taxes (Components of Net
Income Taxes (Components of Net Deferred Tax Liability) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred Tax Assets: | ||
Net operating loss carryforwards | $ 544 | $ 551 |
Nondeductible accruals and other | 3,789 | 3,704 |
Less: Valuation allowance | 266 | 342 |
Total deferred tax assets, net of valuation allowance | 4,067 | 4,014 |
Deferred Tax Liabilities: | ||
Total deferred tax liabilities | 38,880 | 37,580 |
Net deferred tax liability | 34,813 | 33,566 |
Differences Between Book and Tax Basis of Property and Equipment and Intangible Assets [Member] | ||
Deferred Tax Liabilities: | ||
Deferred tax liabilities, other | 37,401 | 36,392 |
Differences Between Book and Tax Basis of Investments [Member] | ||
Deferred Tax Assets: | ||
Deferred tax asset, other | 0 | 101 |
Deferred Tax Liabilities: | ||
Deferred tax liabilities, other | 144 | 0 |
Differences Between Book and Tax Basis of Indexed Debt Securities [Member] | ||
Deferred Tax Liabilities: | ||
Deferred tax liabilities, other | 375 | 457 |
Differences Between Book and Tax Basis of Foreign Subsidiaries [Member] | ||
Deferred Tax Liabilities: | ||
Deferred tax liabilities, other | $ 960 | $ 731 |
Income Taxes (Reconciliation of
Income Taxes (Reconciliation of Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Balance, January 1 | $ 1,136 | $ 1,171 | $ 1,701 |
Additions based on tax positions related to the current year | 74 | 67 | 63 |
Additions based on tax positions related to prior years | 67 | 98 | 111 |
Additions from acquired subsidiaries | 13 | 0 | 0 |
Reductions for tax positions of prior years | (62) | (84) | (220) |
Reductions due to expiration of statutes of limitations | (44) | (41) | (448) |
Settlements with tax authorities | (81) | (75) | (36) |
Balance, December 31 | $ 1,103 | $ 1,136 | $ 1,171 |
Supplemental Financial Inform92
Supplemental Financial Information (Receivables)(Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Supplemental Financial Information [Line Items] | ||
Receivables, gross | $ 8,622 | $ 7,595 |
Less: Allowance for returns and customer incentives | 417 | 473 |
Less: Allowance for doubtful accounts | 250 | 226 |
Receivables, net | 7,955 | 6,896 |
Noncurrent receivables, net | 939 | 721 |
NBCUniversal Media LLC [Member] | ||
Supplemental Financial Information [Line Items] | ||
Receivables, gross | 6,799 | 5,949 |
Less: Allowance for returns and customer incentives | 413 | 469 |
Less: Allowance for doubtful accounts | 84 | 69 |
Receivables, net | 6,302 | 5,411 |
Noncurrent receivables, net | $ 939 | $ 721 |
Supplemental Financial Inform93
Supplemental Financial Information (Components of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Deferred gains (losses) on cash flow hedges | $ (14) | $ (46) |
Unrecognized gains (losses) on employee benefit obligations | 219 | 6 |
Cumulative translation adjustments | (107) | (135) |
Accumulated other comprehensive income (loss) | 98 | (174) |
NBCUniversal Media LLC [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Deferred gains (losses) on cash flow hedges | 23 | (1) |
Unrecognized gains (losses) on employee benefit obligations | 14 | (1) |
Cumulative translation adjustments | (172) | (210) |
Accumulated other comprehensive income (loss) | $ (135) | $ (212) |
Supplemental Financial Inform94
Supplemental Financial Information (Cash Payments for Interest and Income Taxes)(Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Cash Payments for Interest and Income Taxes | |||
Interest | $ 2,565 | $ 2,443 | $ 2,389 |
Income taxes | 3,693 | 3,726 | 3,668 |
NBCUniversal Media LLC [Member] | |||
Cash Payments for Interest and Income Taxes | |||
Interest | 548 | 456 | 485 |
Income taxes | $ 208 | $ 182 | $ 174 |
Supplemental Financial Inform95
Supplemental Financial Information (Noncash Investing and Financing Activities)(Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Supplemental Financial Information [Line Items] | |||
Capital expenditures incurred but not yet paid | $ 1,300 | $ 1,100 | $ 797 |
Dividends payable | $ 653 | $ 612 | $ 572 |
Dividends payable (in dollars per share) | $ 0.275 | $ 0.25 | $ 0.225 |
Fair value equity securities settlement | $ 517 | $ 3,200 | |
NBCUniversal Media LLC [Member] | |||
Supplemental Financial Information [Line Items] | |||
Capital expenditures incurred but not yet paid | $ 189 | 287 | $ 148 |
Contribution from member | $ 3,655 | $ 252 |
Commitments and Contingencies96
Commitments and Contingencies (Narrative) (Details) $ in Millions | 1 Months Ended | 12 Months Ended | |
Jun. 30, 2015USD ($) | Dec. 31, 2016USD ($)employee | Dec. 31, 2015USD ($) | |
Commitment And Contingencies [Line Items] | |||
Carrying value of contractual obligation | $ 1,100 | ||
Contractual value of a potential obligation if option had been exercisable | $ 1,400 | ||
Payment for contingent consideration | $ 450 | ||
Gain on settlement of contingent consideration | $ 240 | ||
Workforce Subject to Collective Bargaining Arrangements [Member] | |||
Commitment And Contingencies [Line Items] | |||
Number of employees covered under collective bargaining agreements | employee | 8,500 | ||
Workforce Subject to Collective Bargaining Arrangements Expiring within One Year [Member] | |||
Commitment And Contingencies [Line Items] | |||
Percentage Of Employees Covered Under Collective Bargaining Agreements Expired Or Scheduled To Expire During The Next Year | 15.00% | ||
NBCUniversal Media LLC [Member] | |||
Commitment And Contingencies [Line Items] | |||
Carrying value of contractual obligation | $ 1,100 | ||
Contractual value of a potential obligation if option had been exercisable | $ 1,400 | ||
NBCUniversal Media LLC [Member] | Workforce Subject to Collective Bargaining Arrangements [Member] | |||
Commitment And Contingencies [Line Items] | |||
Number of employees covered under collective bargaining agreements | employee | 8,500 | ||
NBCUniversal Media LLC [Member] | Workforce Subject to Collective Bargaining Arrangements Expiring within One Year [Member] | |||
Commitment And Contingencies [Line Items] | |||
Percentage Of Employees Covered Under Collective Bargaining Agreements Expired Or Scheduled To Expire During The Next Year | 15.00% | ||
Redeemable Subsidiary Preferred Stock [Member] | NBCUniversal Enterprise [Member] | |||
Commitment And Contingencies [Line Items] | |||
Redeemable subsidiary preferred stock, dividend rate | 5.25% | ||
Redeemable subsidiary preferred stock, put period | 30 days | ||
Redeemable subsidiary preferred stock, call period | 1 year | ||
Level 2 [Member] | Redeemable Subsidiary Preferred Stock [Member] | NBCUniversal Enterprise [Member] | |||
Commitment And Contingencies [Line Items] | |||
Temporary equity, fair value of redeemable subsidiary preferred stock | $ 741 | $ 758 |
Commitments and Contingencies97
Commitments and Contingencies (Minimum Annual Commitments under the Programming License Agreements and Operating Leases) (Details) $ in Millions | Dec. 31, 2016USD ($) |
Programming and Talent Commitments | |
2,017 | $ 5,222 |
2,018 | 4,879 |
2,019 | 3,503 |
2,020 | 4,587 |
2,021 | 3,177 |
Thereafter | 20,847 |
Operating Leases | |
2,017 | 517 |
2,018 | 485 |
2,019 | 433 |
2,020 | 378 |
2,021 | 321 |
Thereafter | 1,873 |
NBCUniversal Media LLC [Member] | |
Programming and Talent Commitments | |
2,017 | 5,213 |
2,018 | 4,876 |
2,019 | 3,503 |
2,020 | 4,587 |
2,021 | 3,177 |
Thereafter | 20,847 |
Operating Leases | |
2,017 | 198 |
2,018 | 182 |
2,019 | 173 |
2,020 | 163 |
2,021 | 147 |
Thereafter | $ 1,238 |
Commitments and Contingencies98
Commitments and Contingencies (Rental expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Commitment And Contingencies [Line Items] | |||
Rent expense | $ 744 | $ 608 | $ 580 |
NBCUniversal Media LLC [Member] | |||
Commitment And Contingencies [Line Items] | |||
Rent expense | $ 259 | $ 213 | $ 222 |
Financial Data by Business Se99
Financial Data by Business Segment (Details) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016USD ($) | Sep. 30, 2016USD ($) | Jun. 30, 2016USD ($) | Mar. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Sep. 30, 2015USD ($) | Jun. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2016USD ($)segment | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Segment Reporting Information [Line Items] | |||||||||||
Number of reportable segments | segment | 5 | ||||||||||
Revenue | $ 21,025 | $ 21,319 | $ 19,269 | $ 18,790 | $ 19,245 | $ 18,669 | $ 18,743 | $ 17,853 | $ 80,403 | $ 74,510 | $ 68,775 |
Operating income (loss) before depreciation and amortization | 26,417 | 24,678 | 22,923 | ||||||||
Depreciation and amortization | 9,558 | 8,680 | 8,019 | ||||||||
Operating income (loss) | $ 4,264 | $ 4,440 | $ 4,066 | $ 4,089 | $ 4,002 | $ 4,001 | $ 4,105 | $ 3,890 | 16,859 | 15,998 | 14,904 |
Capital Expenditures | 9,135 | 8,499 | 7,420 | ||||||||
Cash Paid for Intangible Assets | $ 1,686 | 1,370 | 1,122 | ||||||||
Segment Reporting, Disclosure of Major Customers | No single customer accounted for a significant amount of revenue in any period. | ||||||||||
NBCUniversal Media LLC [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Number of reportable segments | segment | 4 | ||||||||||
Revenue | $ 31,593 | 28,462 | 25,428 | ||||||||
Operating income (loss) before depreciation and amortization | 7,227 | 6,358 | 5,588 | ||||||||
Depreciation and amortization | 1,805 | 1,539 | 1,495 | ||||||||
Operating income (loss) | 5,422 | 4,819 | 4,093 | ||||||||
Capital Expenditures | 1,452 | 1,386 | 1,221 | ||||||||
Cash Paid for Intangible Assets | $ 283 | 211 | 130 | ||||||||
Segment Reporting, Disclosure of Major Customers | No single customer accounted for a significant amount of revenue in any period. | ||||||||||
Non United States [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenue | $ 6,500 | 5,800 | 4,400 | ||||||||
Non United States [Member] | NBCUniversal Media LLC [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenue | 6,517 | 5,799 | 4,433 | ||||||||
United States [Member] | NBCUniversal Media LLC [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenue | $ 25,076 | 22,663 | 20,995 | ||||||||
Cable Communications [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Number of reportable segments | segment | 1 | ||||||||||
NBCUniversal [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Number of reportable segments | segment | 4 | ||||||||||
Revenue | $ 31,593 | 28,462 | 25,428 | ||||||||
Operating income (loss) before depreciation and amortization | 7,227 | 6,352 | 5,516 | ||||||||
Depreciation and amortization | 1,805 | 1,539 | 1,495 | ||||||||
Operating income (loss) | 5,422 | 4,813 | 4,021 | ||||||||
Capital Expenditures | 1,452 | 1,386 | 1,221 | ||||||||
Cash Paid for Intangible Assets | 283 | 211 | 130 | ||||||||
Operating Segments [Member] | Cable Communications [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenue | 50,048 | 46,928 | 44,165 | ||||||||
Operating income (loss) before depreciation and amortization | 20,109 | 19,037 | 18,097 | ||||||||
Depreciation and amortization | 7,670 | 7,051 | 6,436 | ||||||||
Operating income (loss) | 12,439 | 11,986 | 11,661 | ||||||||
Capital Expenditures | 7,596 | 7,040 | 6,156 | ||||||||
Cash Paid for Intangible Assets | $ 1,377 | $ 1,151 | $ 979 | ||||||||
Cable segment revenue types as percentage of total cable revenue | 100.00% | 100.00% | 100.00% | ||||||||
Operating Segments [Member] | Cable Networks [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenue | $ 10,464 | $ 9,628 | $ 9,563 | ||||||||
Operating income (loss) before depreciation and amortization | 3,709 | 3,499 | 3,589 | ||||||||
Depreciation and amortization | 745 | 784 | 748 | ||||||||
Operating income (loss) | 2,964 | 2,715 | 2,841 | ||||||||
Capital Expenditures | 32 | 44 | 49 | ||||||||
Cash Paid for Intangible Assets | 20 | 22 | 21 | ||||||||
Operating Segments [Member] | Cable Networks [Member] | NBCUniversal Media LLC [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenue | 10,464 | 9,628 | 9,563 | ||||||||
Operating income (loss) before depreciation and amortization | 3,709 | 3,499 | 3,589 | ||||||||
Depreciation and amortization | 745 | 784 | 748 | ||||||||
Operating income (loss) | 2,964 | 2,715 | 2,841 | ||||||||
Capital Expenditures | 32 | 44 | 49 | ||||||||
Cash Paid for Intangible Assets | 20 | 22 | 21 | ||||||||
Operating Segments [Member] | Broadcast Television [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenue | 10,147 | 8,530 | 8,542 | ||||||||
Operating income (loss) before depreciation and amortization | 1,320 | 780 | 734 | ||||||||
Depreciation and amortization | 125 | 111 | 127 | ||||||||
Operating income (loss) | 1,195 | 669 | 607 | ||||||||
Capital Expenditures | 153 | 117 | 76 | ||||||||
Cash Paid for Intangible Assets | 19 | 17 | 12 | ||||||||
Operating Segments [Member] | Broadcast Television [Member] | NBCUniversal Media LLC [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenue | 10,147 | 8,530 | 8,542 | ||||||||
Operating income (loss) before depreciation and amortization | 1,320 | 780 | 734 | ||||||||
Depreciation and amortization | 125 | 111 | 127 | ||||||||
Operating income (loss) | 1,195 | 669 | 607 | ||||||||
Capital Expenditures | 153 | 117 | 76 | ||||||||
Cash Paid for Intangible Assets | 19 | 17 | 12 | ||||||||
Operating Segments [Member] | Filmed Entertainment [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenue | 6,360 | 7,287 | 5,008 | ||||||||
Operating income (loss) before depreciation and amortization | 697 | 1,234 | 711 | ||||||||
Depreciation and amortization | 47 | 26 | 21 | ||||||||
Operating income (loss) | 650 | 1,208 | 690 | ||||||||
Capital Expenditures | 33 | 14 | 11 | ||||||||
Cash Paid for Intangible Assets | 16 | 20 | 7 | ||||||||
Operating Segments [Member] | Filmed Entertainment [Member] | NBCUniversal Media LLC [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenue | 6,360 | 7,287 | 5,008 | ||||||||
Operating income (loss) before depreciation and amortization | 697 | 1,234 | 711 | ||||||||
Depreciation and amortization | 47 | 26 | 21 | ||||||||
Operating income (loss) | 650 | 1,208 | 690 | ||||||||
Capital Expenditures | 33 | 14 | 11 | ||||||||
Cash Paid for Intangible Assets | 16 | 20 | 7 | ||||||||
Operating Segments [Member] | Theme Parks [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenue | 4,946 | 3,339 | 2,623 | ||||||||
Operating income (loss) before depreciation and amortization | 2,190 | 1,464 | 1,096 | ||||||||
Depreciation and amortization | 512 | 292 | 273 | ||||||||
Operating income (loss) | 1,678 | 1,172 | 823 | ||||||||
Capital Expenditures | 922 | 833 | 671 | ||||||||
Cash Paid for Intangible Assets | 72 | 54 | 15 | ||||||||
Operating Segments [Member] | Theme Parks [Member] | NBCUniversal Media LLC [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenue | 4,946 | 3,339 | 2,623 | ||||||||
Operating income (loss) before depreciation and amortization | 2,190 | 1,464 | 1,096 | ||||||||
Depreciation and amortization | 512 | 292 | 273 | ||||||||
Operating income (loss) | 1,678 | 1,172 | 823 | ||||||||
Capital Expenditures | 922 | 833 | 671 | ||||||||
Cash Paid for Intangible Assets | 72 | 54 | 15 | ||||||||
Corporate, Non-Segment [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenue | 750 | 713 | 683 | ||||||||
Operating income (loss) before depreciation and amortization | (874) | (815) | (763) | ||||||||
Depreciation and amortization | 83 | 90 | 88 | ||||||||
Operating income (loss) | (957) | (905) | (851) | ||||||||
Capital Expenditures | 87 | 73 | 43 | ||||||||
Cash Paid for Intangible Assets | 26 | 8 | 13 | ||||||||
Corporate, Non-Segment [Member] | NBCUniversal Media LLC [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenue | 20 | 14 | 13 | ||||||||
Operating income (loss) before depreciation and amortization | (699) | (625) | (613) | ||||||||
Depreciation and amortization | 376 | 326 | 326 | ||||||||
Operating income (loss) | (1,075) | (951) | (939) | ||||||||
Capital Expenditures | 312 | 378 | 414 | ||||||||
Cash Paid for Intangible Assets | 156 | 98 | 75 | ||||||||
Corporate, Non-Segment [Member] | NBCUniversal [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenue | 20 | 14 | 13 | ||||||||
Operating income (loss) before depreciation and amortization | (699) | (625) | (613) | ||||||||
Depreciation and amortization | 376 | 326 | 326 | ||||||||
Operating income (loss) | (1,075) | (951) | (939) | ||||||||
Capital Expenditures | 312 | 378 | 414 | ||||||||
Cash Paid for Intangible Assets | 156 | 98 | 75 | ||||||||
Consolidation, Eliminations [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenue | (1,988) | (1,593) | (1,501) | ||||||||
Operating income (loss) before depreciation and amortization | (45) | 104 | 73 | ||||||||
Depreciation and amortization | 0 | 0 | 0 | ||||||||
Operating income (loss) | (45) | 104 | 73 | ||||||||
Capital Expenditures | 0 | 0 | 0 | ||||||||
Cash Paid for Intangible Assets | 0 | 0 | 0 | ||||||||
Consolidation, Eliminations [Member] | NBCUniversal Media LLC [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenue | (344) | (336) | (321) | ||||||||
Operating income (loss) before depreciation and amortization | 10 | 6 | 71 | ||||||||
Depreciation and amortization | 0 | 0 | 0 | ||||||||
Operating income (loss) | 10 | 6 | 71 | ||||||||
Capital Expenditures | 0 | 0 | 0 | ||||||||
Cash Paid for Intangible Assets | 0 | 0 | 0 | ||||||||
Consolidation, Eliminations [Member] | NBCUniversal [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Revenue | (344) | (336) | (321) | ||||||||
Operating income (loss) before depreciation and amortization | 10 | 0 | (1) | ||||||||
Depreciation and amortization | 0 | 0 | 0 | ||||||||
Operating income (loss) | 10 | 0 | (1) | ||||||||
Capital Expenditures | 0 | 0 | 0 | ||||||||
Cash Paid for Intangible Assets | $ 0 | $ 0 | $ 0 | ||||||||
Residential Video Products And Services [Member] | Cable Communications [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Cable segment revenue types as percentage of total cable revenue | 44.70% | 45.90% | 47.10% | ||||||||
Residential High-speed Internet Products And Services [Member] | Cable Communications [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Cable segment revenue types as percentage of total cable revenue | 27.00% | 26.60% | 25.60% | ||||||||
Residential Voice Products And Services [Member] | Cable Communications [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Cable segment revenue types as percentage of total cable revenue | 7.10% | 7.70% | 8.30% | ||||||||
Business Products And Services [Member] | Cable Communications [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Cable segment revenue types as percentage of total cable revenue | 11.00% | 10.10% | 9.00% | ||||||||
Advertising Products And Services [Member] | Cable Communications [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Cable segment revenue types as percentage of total cable revenue | 5.00% | 4.90% | 5.40% | ||||||||
Other Products And Services [Member] | Cable Communications [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Cable segment revenue types as percentage of total cable revenue | 5.20% | 4.80% | 4.60% | ||||||||
Franchise And Other Regulatory Fees [Member] | Operating Segments [Member] | Cable Communications [Member] | |||||||||||
Segment Reporting Information [Line Items] | |||||||||||
Cable segment revenue types as percentage of total cable revenue | 2.80% | 2.80% | 2.80% |
Quarterly Financial Informat100
Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Quarterly Financial Information [Line Items] | |||||||||||
Revenue | $ 21,025 | $ 21,319 | $ 19,269 | $ 18,790 | $ 19,245 | $ 18,669 | $ 18,743 | $ 17,853 | $ 80,403 | $ 74,510 | $ 68,775 |
Operating income | 4,264 | 4,440 | 4,066 | 4,089 | 4,002 | 4,001 | 4,105 | 3,890 | 16,859 | 15,998 | 14,904 |
Net Income (Loss) Attributable to Parent | $ 2,296 | $ 2,237 | $ 2,028 | $ 2,134 | $ 1,971 | $ 1,996 | $ 2,137 | $ 2,059 | $ 8,695 | $ 8,163 | $ 8,380 |
Basic earnings per common share attributable to Comcast Corporation shareholders (in dollars per share) | $ 0.96 | $ 0.93 | $ 0.84 | $ 0.88 | $ 0.80 | $ 0.81 | $ 0.85 | $ 0.82 | $ 3.61 | $ 3.28 | $ 3.24 |
Diluted earnings per common share attributable to Comcast Corporation shareholders (in dollars per share) | 0.95 | 0.92 | 0.83 | 0.87 | 0.79 | 0.80 | 0.84 | 0.81 | 3.57 | 3.24 | 3.20 |
Dividends declared per common share (in dollars per share) | $ 0.275 | $ 0.275 | $ 0.275 | $ 0.275 | $ 0.25 | $ 0.25 | $ 0.25 | $ 0.25 | $ 1.10 | $ 1 | $ 0.90 |
Verizon Wireless [Member] | |||||||||||
Quarterly Financial Information [Line Items] | |||||||||||
Income resulting from an agency agreement | $ 225 | ||||||||||
Income Resulting From An Agency Agreement, Net of Tax | $ 143 |
Condensed Consolidating Fina101
Condensed Consolidating Financial Information (Narrative) (Details) $ in Millions | Dec. 31, 2016USD ($) |
Guarantor Subsidiaries [Member] | |
Debt Instrument [Line Items] | |
Principal amount of debt securities subject to guarantee | $ 52,900 |
Maturing In Next Five Years [Member] | |
Debt Instrument [Line Items] | |
Principal amount of debt securities subject to guarantee | 12,300 |
NBCUniversal Enterprise Senior Debt Securities [Member] | |
Debt Instrument [Line Items] | |
Principal amount of debt securities subject to guarantee | 3,300 |
Comcast Holdings' ZONES due October 2029 [Member] | |
Debt Instrument [Line Items] | |
Principal amount of debt securities subject to guarantee | 185 |
Comcast Holdings' ZONES due November 2029 [Member] | |
Debt Instrument [Line Items] | |
Principal amount of debt securities not subject to guarantee | 62 |
Universal Studios Japan Term Loans [Member] | |
Debt Instrument [Line Items] | |
Principal amount of debt securities not subject to guarantee | $ 3,300 |
Condensed Consolidating Fina102
Condensed Consolidating Financial Information (Condensed Consolidating Balance Sheet) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Assets | ||||
Cash and cash equivalents | $ 3,301 | $ 2,295 | $ 3,910 | $ 1,718 |
Receivables, net | 7,955 | 6,896 | ||
Programming rights | 1,250 | 1,213 | ||
Deposits | 1,772 | 21 | ||
Other current assets | 2,083 | 1,878 | ||
Total current assets | 16,361 | 12,303 | ||
Film and television costs | 7,252 | 5,855 | ||
Investments | 5,247 | 3,224 | ||
Investments in and amounts due from subsidiaries eliminated upon consolidation | 0 | 0 | ||
Property and equipment, net | 36,253 | 33,665 | ||
Franchise rights | 59,364 | 59,364 | ||
Goodwill | 35,980 | 32,945 | 27,316 | |
Other intangible assets, net | 17,274 | 16,946 | ||
Other noncurrent assets, net | 2,769 | 2,272 | ||
Total assets | 180,500 | 166,574 | ||
Liabilities and Equity | ||||
Accounts payable and accrued expenses related to trade creditors | 6,915 | 6,215 | ||
Accrued participations and residuals | 1,726 | 1,572 | ||
Accrued expenses and other current liabilities | 7,414 | 6,764 | ||
Current portion of long-term debt | 5,480 | 3,627 | ||
Total current liabilities | 21,535 | 18,178 | ||
Long-term debt, less current portion | 55,566 | 48,994 | ||
Deferred income taxes | 34,854 | 33,566 | ||
Other noncurrent liabilities | 10,925 | 10,637 | ||
Redeemable noncontrolling interests | 1,446 | 1,221 | ||
Equity: | ||||
Common stock | 28 | 29 | ||
Other shareholders’ equity | 53,915 | 52,240 | ||
Total Comcast Corporation shareholders’ equity | 53,943 | 52,269 | ||
Noncontrolling interests | 2,231 | 1,709 | ||
Total equity | 56,174 | 53,978 | 53,068 | 51,058 |
Total liabilities and equity | 180,500 | 166,574 | ||
Comcast Parent [Member] | ||||
Assets | ||||
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Receivables, net | 0 | 0 | ||
Programming rights | 0 | 0 | ||
Deposits | 0 | 0 | ||
Other current assets | 151 | 69 | ||
Total current assets | 151 | 69 | ||
Film and television costs | 0 | 0 | ||
Investments | 75 | 33 | ||
Investments in and amounts due from subsidiaries eliminated upon consolidation | 98,350 | 87,142 | ||
Property and equipment, net | 298 | 210 | ||
Franchise rights | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Other intangible assets, net | 13 | 12 | ||
Other noncurrent assets, net | 1,138 | 1,301 | ||
Total assets | 100,025 | 88,767 | ||
Liabilities and Equity | ||||
Accounts payable and accrued expenses related to trade creditors | 23 | 16 | ||
Accrued participations and residuals | 0 | 0 | ||
Accrued expenses and other current liabilities | 1,726 | 1,789 | ||
Current portion of long-term debt | 3,739 | 1,149 | ||
Total current liabilities | 5,488 | 2,954 | ||
Long-term debt, less current portion | 38,123 | 31,106 | ||
Deferred income taxes | 0 | 0 | ||
Other noncurrent liabilities | 2,471 | 2,438 | ||
Redeemable noncontrolling interests | 0 | 0 | ||
Equity: | ||||
Common stock | 28 | 29 | ||
Other shareholders’ equity | 53,915 | 52,240 | ||
Total Comcast Corporation shareholders’ equity | 53,943 | 52,269 | ||
Noncontrolling interests | 0 | 0 | ||
Total equity | 53,943 | 52,269 | ||
Total liabilities and equity | 100,025 | 88,767 | ||
Comcast Holdings [Member] | ||||
Assets | ||||
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Receivables, net | 0 | 0 | ||
Programming rights | 0 | 0 | ||
Deposits | 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 | 120,071 | 111,241 | ||
Property and equipment, net | 0 | 0 | ||
Franchise rights | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Other intangible assets, net | 0 | 0 | ||
Other noncurrent assets, net | 638 | 147 | ||
Total assets | 120,709 | 111,388 | ||
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 | 0 | 335 | ||
Current portion of long-term debt | 0 | 0 | ||
Total current liabilities | 0 | 335 | ||
Long-term debt, less current portion | 141 | 130 | ||
Deferred income taxes | 542 | 624 | ||
Other noncurrent liabilities | 0 | 0 | ||
Redeemable noncontrolling interests | 0 | 0 | ||
Equity: | ||||
Common stock | 0 | 0 | ||
Other shareholders’ equity | 120,026 | 110,299 | ||
Total Comcast Corporation shareholders’ equity | 120,026 | 110,299 | ||
Noncontrolling interests | 0 | 0 | ||
Total equity | 120,026 | 110,299 | ||
Total liabilities and equity | 120,709 | 111,388 | ||
CCCL Parent [Member] | ||||
Assets | ||||
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Receivables, net | 0 | 0 | ||
Programming rights | 0 | 0 | ||
Deposits | 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 | 117,696 | 119,354 | ||
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 | 117,696 | 119,354 | ||
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 | 341 | 290 | ||
Current portion of long-term debt | 550 | 0 | ||
Total current liabilities | 891 | 290 | ||
Long-term debt, less current portion | 2,100 | 2,650 | ||
Deferred income taxes | 0 | 0 | ||
Other noncurrent liabilities | 0 | 0 | ||
Redeemable noncontrolling interests | 0 | 0 | ||
Equity: | ||||
Common stock | 0 | 0 | ||
Other shareholders’ equity | 114,705 | 116,414 | ||
Total Comcast Corporation shareholders’ equity | 114,705 | 116,414 | ||
Noncontrolling interests | 0 | 0 | ||
Total equity | 114,705 | 116,414 | ||
Total liabilities and equity | 117,696 | 119,354 | ||
NBCUniversal Media Parent [Member] | ||||
Assets | ||||
Cash and cash equivalents | 482 | 414 | 385 | 336 |
Receivables, net | 0 | 0 | ||
Programming rights | 0 | 0 | ||
Deposits | 0 | 0 | ||
Other current assets | 36 | 17 | ||
Total current assets | 518 | 431 | ||
Film and television costs | 0 | 0 | ||
Investments | 651 | 430 | ||
Investments in and amounts due from subsidiaries eliminated upon consolidation | 47,393 | 42,441 | ||
Property and equipment, net | 0 | 0 | ||
Franchise rights | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Other intangible assets, net | 0 | 0 | ||
Other noncurrent assets, net | 89 | 78 | ||
Total assets | 48,651 | 43,380 | ||
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 | 302 | 389 | ||
Current portion of long-term debt | 4 | 1,005 | ||
Total current liabilities | 306 | 1,394 | ||
Long-term debt, less current portion | 8,208 | 8,211 | ||
Deferred income taxes | 70 | 66 | ||
Other noncurrent liabilities | 1,166 | 1,087 | ||
Redeemable noncontrolling interests | 0 | 0 | ||
Equity: | ||||
Common stock | 0 | 0 | ||
Other shareholders’ equity | 38,901 | 32,622 | ||
Total Comcast Corporation shareholders’ equity | 38,901 | 32,622 | ||
Noncontrolling interests | 0 | 0 | ||
Total equity | 38,901 | 32,622 | ||
Total liabilities and equity | 48,651 | 43,380 | ||
Comcast Non-Guarantor Subsidiaries [Member] | ||||
Assets | ||||
Cash and cash equivalents | 2,819 | 1,881 | 3,525 | 1,382 |
Receivables, net | 7,955 | 6,896 | ||
Programming rights | 1,250 | 1,213 | ||
Deposits | 1,772 | 21 | ||
Other current assets | 1,896 | 1,792 | ||
Total current assets | 15,692 | 11,803 | ||
Film and television costs | 7,252 | 5,855 | ||
Investments | 4,521 | 2,761 | ||
Investments in and amounts due from subsidiaries eliminated upon consolidation | 97,704 | 109,598 | ||
Property and equipment, net | 35,955 | 33,455 | ||
Franchise rights | 59,364 | 59,364 | ||
Goodwill | 35,980 | 32,945 | ||
Other intangible assets, net | 17,261 | 16,934 | ||
Other noncurrent assets, net | 1,921 | 2,114 | ||
Total assets | 275,650 | 274,829 | ||
Liabilities and Equity | ||||
Accounts payable and accrued expenses related to trade creditors | 6,892 | 6,199 | ||
Accrued participations and residuals | 1,726 | 1,572 | ||
Accrued expenses and other current liabilities | 5,045 | 3,961 | ||
Current portion of long-term debt | 1,187 | 1,473 | ||
Total current liabilities | 14,850 | 13,205 | ||
Long-term debt, less current portion | 6,994 | 6,897 | ||
Deferred income taxes | 35,259 | 34,098 | ||
Other noncurrent liabilities | 7,288 | 7,258 | ||
Redeemable noncontrolling interests | 1,446 | 1,221 | ||
Equity: | ||||
Common stock | 0 | 0 | ||
Other shareholders’ equity | 207,582 | 210,441 | ||
Total Comcast Corporation shareholders’ equity | 207,582 | 210,441 | ||
Noncontrolling interests | 2,231 | 1,709 | ||
Total equity | 209,813 | 212,150 | ||
Total liabilities and equity | 275,650 | 274,829 | ||
Elimination and Consolidation Adjustments [Member] | ||||
Assets | ||||
Cash and cash equivalents | 0 | 0 | $ 0 | $ 0 |
Receivables, net | 0 | 0 | ||
Programming rights | 0 | 0 | ||
Deposits | 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 | (481,214) | (469,776) | ||
Property and equipment, net | 0 | 0 | ||
Franchise rights | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Other intangible assets, net | 0 | 0 | ||
Other noncurrent assets, net | (1,017) | (1,368) | ||
Total assets | (482,231) | (471,144) | ||
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 | 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 | (1,017) | (1,222) | ||
Other noncurrent liabilities | 0 | (146) | ||
Redeemable noncontrolling interests | 0 | 0 | ||
Equity: | ||||
Common stock | 0 | 0 | ||
Other shareholders’ equity | (481,214) | (469,776) | ||
Total Comcast Corporation shareholders’ equity | (481,214) | (469,776) | ||
Noncontrolling interests | 0 | 0 | ||
Total equity | (481,214) | (469,776) | ||
Total liabilities and equity | $ (482,231) | $ (471,144) |
Condensed Consolidating Fina103
Condensed Consolidating Financial Information (Condensed Consolidating Statement of Income) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Condensed Income Statements, Captions [Line Items] | |||||||||||
Service revenue | $ 80,403 | $ 74,510 | $ 68,775 | ||||||||
Management fee revenue | 0 | 0 | 0 | ||||||||
Revenue | $ 21,025 | $ 21,319 | $ 19,269 | $ 18,790 | $ 19,245 | $ 18,669 | $ 18,743 | $ 17,853 | 80,403 | 74,510 | 68,775 |
Costs and Expenses: | |||||||||||
Programming and production | 24,463 | 22,550 | 20,912 | ||||||||
Other operating and administrative | 23,409 | 21,319 | 19,839 | ||||||||
Advertising, marketing and promotion | 6,114 | 5,963 | 5,101 | ||||||||
Depreciation | 7,464 | 6,781 | 6,337 | ||||||||
Amortization | 2,094 | 1,899 | 1,682 | ||||||||
Costs and expenses, total | 63,544 | 58,512 | 53,871 | ||||||||
Operating income (loss) | 4,264 | 4,440 | 4,066 | 4,089 | 4,002 | 4,001 | 4,105 | 3,890 | 16,859 | 15,998 | 14,904 |
Other Income (Expense): | |||||||||||
Interest expense | (2,942) | (2,702) | (2,617) | ||||||||
Investment income (loss), net | 213 | 81 | 296 | ||||||||
Equity in net income (losses) of investees, net | (104) | (325) | 97 | ||||||||
Other income (expense), net | 327 | 320 | (215) | ||||||||
Nonoperating Income (Expense) | (2,506) | (2,626) | (2,439) | ||||||||
Income (loss) before income taxes | 14,353 | 13,372 | 12,465 | ||||||||
Income tax (expense) benefit | (5,308) | (4,959) | (3,873) | ||||||||
Net income (loss) | 9,045 | 8,413 | 8,592 | ||||||||
Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock | (350) | (250) | (212) | ||||||||
Net income attributable to Parent | $ 2,296 | $ 2,237 | $ 2,028 | $ 2,134 | $ 1,971 | $ 1,996 | $ 2,137 | $ 2,059 | 8,695 | 8,163 | 8,380 |
Comprehensive income attributable to Parent | 8,967 | 8,135 | 8,178 | ||||||||
Comcast Parent [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Service revenue | 0 | 0 | 0 | ||||||||
Management fee revenue | 1,067 | 1,005 | 947 | ||||||||
Revenue | 1,067 | 1,005 | 947 | ||||||||
Costs and Expenses: | |||||||||||
Programming and production | 0 | 0 | 0 | ||||||||
Other operating and administrative | 813 | 760 | 751 | ||||||||
Advertising, marketing and promotion | 0 | 0 | 0 | ||||||||
Depreciation | 28 | 31 | 34 | ||||||||
Amortization | 6 | 6 | 6 | ||||||||
Costs and expenses, total | 847 | 797 | 791 | ||||||||
Operating income (loss) | 220 | 208 | 156 | ||||||||
Other Income (Expense): | |||||||||||
Interest expense | (1,941) | (1,744) | (1,621) | ||||||||
Investment income (loss), net | 7 | 6 | 3 | ||||||||
Equity in net income (losses) of investees, net | 9,809 | 9,159 | 9,330 | ||||||||
Other income (expense), net | 0 | (3) | 0 | ||||||||
Nonoperating Income (Expense) | 7,875 | 7,418 | 7,712 | ||||||||
Income (loss) before income taxes | 8,095 | 7,626 | 7,868 | ||||||||
Income tax (expense) benefit | 600 | 537 | 512 | ||||||||
Net income (loss) | 8,695 | 8,163 | 8,380 | ||||||||
Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock | 0 | 0 | 0 | ||||||||
Net income attributable to Parent | 8,695 | 8,163 | 8,380 | ||||||||
Comprehensive income attributable to Parent | 8,967 | 8,135 | 8,178 | ||||||||
Comcast Holdings [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Service revenue | 0 | 0 | 0 | ||||||||
Management fee revenue | 0 | 0 | 0 | ||||||||
Revenue | 0 | 0 | 0 | ||||||||
Costs and Expenses: | |||||||||||
Programming and production | 0 | 0 | 0 | ||||||||
Other operating and administrative | 0 | 0 | 0 | ||||||||
Advertising, marketing and promotion | 0 | 0 | 0 | ||||||||
Depreciation | 0 | 0 | 0 | ||||||||
Amortization | 0 | 0 | 0 | ||||||||
Costs and expenses, total | 0 | 0 | 0 | ||||||||
Operating income (loss) | 0 | 0 | 0 | ||||||||
Other Income (Expense): | |||||||||||
Interest expense | (12) | (12) | (11) | ||||||||
Investment income (loss), net | (5) | (1) | 12 | ||||||||
Equity in net income (losses) of investees, net | 9,286 | 8,651 | 8,843 | ||||||||
Other income (expense), net | 0 | 0 | 0 | ||||||||
Nonoperating Income (Expense) | 9,269 | 8,638 | 8,844 | ||||||||
Income (loss) before income taxes | 9,269 | 8,638 | 8,844 | ||||||||
Income tax (expense) benefit | 6 | 4 | 0 | ||||||||
Net income (loss) | 9,275 | 8,642 | 8,844 | ||||||||
Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock | 0 | 0 | 0 | ||||||||
Net income attributable to Parent | 9,275 | 8,642 | 8,844 | ||||||||
Comprehensive income attributable to Parent | 9,317 | 8,625 | 8,807 | ||||||||
CCCL Parent [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Service revenue | 0 | 0 | 0 | ||||||||
Management fee revenue | 1,049 | 977 | 921 | ||||||||
Revenue | 1,049 | 977 | 921 | ||||||||
Costs and Expenses: | |||||||||||
Programming and production | 0 | 0 | 0 | ||||||||
Other operating and administrative | 1,049 | 977 | 921 | ||||||||
Advertising, marketing and promotion | 0 | 0 | 0 | ||||||||
Depreciation | 0 | 0 | 0 | ||||||||
Amortization | 0 | 0 | 0 | ||||||||
Costs and expenses, total | 1,049 | 977 | 921 | ||||||||
Operating income (loss) | 0 | 0 | 0 | ||||||||
Other Income (Expense): | |||||||||||
Interest expense | (239) | (270) | (294) | ||||||||
Investment income (loss), net | 0 | 0 | 0 | ||||||||
Equity in net income (losses) of investees, net | 8,679 | 8,040 | 8,350 | ||||||||
Other income (expense), net | 0 | 0 | 0 | ||||||||
Nonoperating Income (Expense) | 8,440 | 7,770 | 8,056 | ||||||||
Income (loss) before income taxes | 8,440 | 7,770 | 8,056 | ||||||||
Income tax (expense) benefit | 84 | 94 | 103 | ||||||||
Net income (loss) | 8,524 | 7,864 | 8,159 | ||||||||
Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock | 0 | 0 | 0 | ||||||||
Net income attributable to Parent | 8,524 | 7,864 | 8,159 | ||||||||
Comprehensive income attributable to Parent | 8,530 | 7,864 | 8,163 | ||||||||
NBCUniversal Media Parent [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Service revenue | 0 | 0 | 0 | ||||||||
Management fee revenue | 0 | 0 | 0 | ||||||||
Revenue | 0 | 0 | 0 | ||||||||
Costs and Expenses: | |||||||||||
Programming and production | 0 | 0 | 0 | ||||||||
Other operating and administrative | 932 | 922 | 908 | ||||||||
Advertising, marketing and promotion | 0 | 0 | 0 | ||||||||
Depreciation | 0 | 0 | 0 | ||||||||
Amortization | 0 | 0 | 0 | ||||||||
Costs and expenses, total | 932 | 922 | 908 | ||||||||
Operating income (loss) | (932) | (922) | (908) | ||||||||
Other Income (Expense): | |||||||||||
Interest expense | (456) | (462) | (479) | ||||||||
Investment income (loss), net | (25) | (19) | (7) | ||||||||
Equity in net income (losses) of investees, net | 5,545 | 4,852 | 4,523 | ||||||||
Other income (expense), net | 116 | (31) | (4) | ||||||||
Nonoperating Income (Expense) | 5,180 | 4,340 | 4,033 | ||||||||
Income (loss) before income taxes | 4,248 | 3,418 | 3,125 | ||||||||
Income tax (expense) benefit | (13) | (4) | (10) | ||||||||
Net income (loss) | 4,235 | 3,414 | 3,115 | ||||||||
Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock | 0 | 0 | 0 | ||||||||
Net income attributable to Parent | 4,235 | 3,414 | 3,115 | ||||||||
Comprehensive income attributable to Parent | 4,312 | 3,361 | 2,972 | ||||||||
Comcast Non-Guarantor Subsidiaries [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Service revenue | 80,403 | 74,510 | 68,775 | ||||||||
Management fee revenue | 0 | 0 | 0 | ||||||||
Revenue | 80,403 | 74,510 | 68,775 | ||||||||
Costs and Expenses: | |||||||||||
Programming and production | 24,463 | 22,550 | 20,912 | ||||||||
Other operating and administrative | 22,731 | 20,642 | 19,127 | ||||||||
Advertising, marketing and promotion | 6,114 | 5,963 | 5,101 | ||||||||
Depreciation | 7,436 | 6,750 | 6,303 | ||||||||
Amortization | 2,088 | 1,893 | 1,676 | ||||||||
Costs and expenses, total | 62,832 | 57,798 | 53,119 | ||||||||
Operating income (loss) | 17,571 | 16,712 | 15,656 | ||||||||
Other Income (Expense): | |||||||||||
Interest expense | (294) | (214) | (212) | ||||||||
Investment income (loss), net | 236 | 95 | 288 | ||||||||
Equity in net income (losses) of investees, net | 4,131 | 3,089 | 3,212 | ||||||||
Other income (expense), net | 211 | 354 | (211) | ||||||||
Nonoperating Income (Expense) | 4,284 | 3,324 | 3,077 | ||||||||
Income (loss) before income taxes | 21,855 | 20,036 | 18,733 | ||||||||
Income tax (expense) benefit | (5,985) | (5,590) | (4,478) | ||||||||
Net income (loss) | 15,870 | 14,446 | 14,255 | ||||||||
Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock | (350) | (250) | (212) | ||||||||
Net income attributable to Parent | 15,520 | 14,196 | 14,043 | ||||||||
Comprehensive income attributable to Parent | 15,610 | 14,192 | 13,980 | ||||||||
Elimination and Consolidation Adjustments [Member] | |||||||||||
Condensed Income Statements, Captions [Line Items] | |||||||||||
Service revenue | 0 | 0 | 0 | ||||||||
Management fee revenue | (2,116) | (1,982) | (1,868) | ||||||||
Revenue | (2,116) | (1,982) | (1,868) | ||||||||
Costs and Expenses: | |||||||||||
Programming and production | 0 | 0 | 0 | ||||||||
Other operating and administrative | (2,116) | (1,982) | (1,868) | ||||||||
Advertising, marketing and promotion | 0 | 0 | 0 | ||||||||
Depreciation | 0 | 0 | 0 | ||||||||
Amortization | 0 | 0 | 0 | ||||||||
Costs and expenses, total | (2,116) | (1,982) | (1,868) | ||||||||
Operating income (loss) | 0 | 0 | 0 | ||||||||
Other Income (Expense): | |||||||||||
Interest expense | 0 | 0 | 0 | ||||||||
Investment income (loss), net | 0 | 0 | 0 | ||||||||
Equity in net income (losses) of investees, net | (37,554) | (34,116) | (34,161) | ||||||||
Other income (expense), net | 0 | 0 | 0 | ||||||||
Nonoperating Income (Expense) | (37,554) | (34,116) | (34,161) | ||||||||
Income (loss) before income taxes | (37,554) | (34,116) | (34,161) | ||||||||
Income tax (expense) benefit | 0 | 0 | 0 | ||||||||
Net income (loss) | (37,554) | (34,116) | (34,161) | ||||||||
Net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock | 0 | 0 | 0 | ||||||||
Net income attributable to Parent | (37,554) | (34,116) | (34,161) | ||||||||
Comprehensive income attributable to Parent | $ (37,769) | $ (34,042) | $ (33,922) |
Condensed Consolidating Fina104
Condensed Consolidating Financial Information (Condensed Consolidating Statement of Cash Flows) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Operating Activities | |||
Net cash provided by operating activities | $ 19,240 | $ 18,778 | $ 16,945 |
Investing Activities | |||
Net transactions with affiliates | 0 | 0 | 0 |
Capital expenditures | (9,135) | (8,499) | (7,420) |
Cash paid for intangible assets | (1,686) | (1,370) | (1,122) |
Acquisitions and construction of real estate properties | (428) | (178) | (43) |
Acquisitions, net of cash acquired | (3,929) | (1,786) | (477) |
Proceeds from sales of businesses and investments | 218 | 433 | 666 |
Purchases of investments | (1,697) | (784) | (191) |
Deposits | (1,749) | (18) | 0 |
Other | 21 | 238 | (146) |
Net cash provided by (used in) investing activities | (18,385) | (11,964) | (8,733) |
Financing Activities | |||
Proceeds from (repayments of) short-term borrowings, net | 1,790 | 135 | (504) |
Proceeds from borrowings | 9,231 | 5,486 | 4,182 |
Repurchases and repayments of debt | (3,052) | (4,378) | (3,175) |
Repurchases and retirements of common stock | (5,000) | (6,750) | (4,251) |
Dividends paid | (2,601) | (2,437) | (2,254) |
Issuances of common stock | 23 | 36 | 35 |
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock | (253) | (232) | (220) |
Other | 13 | (289) | 167 |
Net cash provided by (used in) financing activities | 151 | (8,429) | (6,020) |
Increase (decrease) in cash and cash equivalents | 1,006 | (1,615) | 2,192 |
Cash and cash equivalents, beginning of year | 2,295 | 3,910 | 1,718 |
Cash and cash equivalents, end of year | 3,301 | 2,295 | 3,910 |
Comcast Parent [Member] | |||
Operating Activities | |||
Net cash provided by operating activities | (1,332) | (792) | (354) |
Investing Activities | |||
Net transactions with affiliates | (860) | 6,559 | 4,784 |
Capital expenditures | (13) | (27) | (3) |
Cash paid for intangible assets | (9) | (6) | (6) |
Acquisitions and construction of real estate properties | (35) | 0 | 0 |
Acquisitions, net of cash acquired | 0 | 0 | 0 |
Proceeds from sales of businesses and investments | 0 | 0 | 0 |
Purchases of investments | (40) | (7) | (19) |
Deposits | 0 | 0 | 0 |
Other | (108) | 7 | 0 |
Net cash provided by (used in) investing activities | (1,065) | 6,526 | 4,756 |
Financing Activities | |||
Proceeds from (repayments of) short-term borrowings, net | 1,339 | 400 | (1,350) |
Proceeds from borrowings | 9,231 | 5,486 | 4,180 |
Repurchases and repayments of debt | (750) | (2,650) | (1,000) |
Repurchases and retirements of common stock | (5,000) | (6,750) | (4,251) |
Dividends paid | (2,601) | (2,437) | (2,254) |
Issuances of common stock | 23 | 36 | 35 |
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock | 0 | 0 | 0 |
Other | 155 | 181 | 238 |
Net cash provided by (used in) financing activities | 2,397 | (5,734) | (4,402) |
Increase (decrease) in cash and cash equivalents | 0 | 0 | 0 |
Cash and cash equivalents, beginning of year | 0 | 0 | 0 |
Cash and cash equivalents, end of year | 0 | 0 | 0 |
Comcast Holdings [Member] | |||
Operating Activities | |||
Net cash provided by operating activities | (189) | 48 | 9 |
Investing Activities | |||
Net transactions with affiliates | 189 | (48) | (9) |
Capital expenditures | 0 | 0 | 0 |
Cash paid for intangible assets | 0 | 0 | 0 |
Acquisitions and construction of real estate properties | 0 | 0 | 0 |
Acquisitions, net of cash acquired | 0 | 0 | 0 |
Proceeds from sales of businesses and investments | 0 | 0 | 0 |
Purchases of investments | 0 | 0 | 0 |
Deposits | 0 | 0 | 0 |
Other | 0 | 0 | 0 |
Net cash provided by (used in) investing activities | 189 | (48) | (9) |
Financing Activities | |||
Proceeds from (repayments of) short-term borrowings, net | 0 | 0 | 0 |
Proceeds from borrowings | 0 | 0 | 0 |
Repurchases and repayments of debt | 0 | 0 | 0 |
Repurchases and retirements of common stock | 0 | 0 | 0 |
Dividends paid | 0 | 0 | 0 |
Issuances of common stock | 0 | 0 | 0 |
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock | 0 | 0 | 0 |
Other | 0 | 0 | 0 |
Net cash provided by (used in) financing activities | 0 | 0 | 0 |
Increase (decrease) in cash and cash equivalents | 0 | 0 | 0 |
Cash and cash equivalents, beginning of year | 0 | 0 | 0 |
Cash and cash equivalents, end of year | 0 | 0 | 0 |
CCCL Parent [Member] | |||
Operating Activities | |||
Net cash provided by operating activities | (100) | (167) | (139) |
Investing Activities | |||
Net transactions with affiliates | 100 | 840 | 139 |
Capital expenditures | 0 | 0 | 0 |
Cash paid for intangible assets | 0 | 0 | 0 |
Acquisitions and construction of real estate properties | 0 | 0 | 0 |
Acquisitions, net of cash acquired | 0 | 0 | 0 |
Proceeds from sales of businesses and investments | 0 | 0 | 0 |
Purchases of investments | 0 | 0 | 0 |
Deposits | 0 | 0 | 0 |
Other | 0 | 0 | 0 |
Net cash provided by (used in) investing activities | 100 | 840 | 139 |
Financing Activities | |||
Proceeds from (repayments of) short-term borrowings, net | 0 | 0 | 0 |
Proceeds from borrowings | 0 | 0 | 0 |
Repurchases and repayments of debt | 0 | (673) | 0 |
Repurchases and retirements of common stock | 0 | 0 | 0 |
Dividends paid | 0 | 0 | 0 |
Issuances of common stock | 0 | 0 | 0 |
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock | 0 | 0 | 0 |
Other | 0 | 0 | 0 |
Net cash provided by (used in) financing activities | 0 | (673) | 0 |
Increase (decrease) in cash and cash equivalents | 0 | 0 | 0 |
Cash and cash equivalents, beginning of year | 0 | 0 | 0 |
Cash and cash equivalents, end of year | 0 | 0 | 0 |
NBCUniversal Media Parent [Member] | |||
Operating Activities | |||
Net cash provided by operating activities | (1,453) | (1,398) | (1,299) |
Investing Activities | |||
Net transactions with affiliates | 2,642 | 2,839 | 2,247 |
Capital expenditures | 0 | 0 | 0 |
Cash paid for intangible assets | 0 | 0 | 0 |
Acquisitions and construction of real estate properties | 0 | 0 | 0 |
Acquisitions, net of cash acquired | 0 | 0 | 0 |
Proceeds from sales of businesses and investments | 104 | 4 | 8 |
Purchases of investments | (210) | (407) | (10) |
Deposits | 0 | 0 | 0 |
Other | (35) | (5) | 5 |
Net cash provided by (used in) investing activities | 2,501 | 2,431 | 2,250 |
Financing Activities | |||
Proceeds from (repayments of) short-term borrowings, net | 0 | 0 | 0 |
Proceeds from borrowings | 0 | 0 | 0 |
Repurchases and repayments of debt | (1,005) | (1,004) | (902) |
Repurchases and retirements of common stock | 0 | 0 | 0 |
Dividends paid | 0 | 0 | 0 |
Issuances of common stock | 0 | 0 | 0 |
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock | 0 | 0 | 0 |
Other | 25 | 0 | 0 |
Net cash provided by (used in) financing activities | (980) | (1,004) | (902) |
Increase (decrease) in cash and cash equivalents | 68 | 29 | 49 |
Cash and cash equivalents, beginning of year | 414 | 385 | 336 |
Cash and cash equivalents, end of year | 482 | 414 | 385 |
Comcast Non-Guarantor Subsidiaries [Member] | |||
Operating Activities | |||
Net cash provided by operating activities | 22,314 | 21,087 | 18,728 |
Investing Activities | |||
Net transactions with affiliates | (2,071) | (10,190) | (7,161) |
Capital expenditures | (9,122) | (8,472) | (7,417) |
Cash paid for intangible assets | (1,677) | (1,364) | (1,116) |
Acquisitions and construction of real estate properties | (393) | (178) | (43) |
Acquisitions, net of cash acquired | (3,929) | (1,786) | (477) |
Proceeds from sales of businesses and investments | 114 | 429 | 658 |
Purchases of investments | (1,447) | (370) | (162) |
Deposits | (1,749) | (18) | 0 |
Other | 164 | 236 | (151) |
Net cash provided by (used in) investing activities | (20,110) | (21,713) | (15,869) |
Financing Activities | |||
Proceeds from (repayments of) short-term borrowings, net | 451 | (265) | 846 |
Proceeds from borrowings | 0 | 0 | 2 |
Repurchases and repayments of debt | (1,297) | (51) | (1,273) |
Repurchases and retirements of common stock | 0 | 0 | 0 |
Dividends paid | 0 | 0 | 0 |
Issuances of common stock | 0 | 0 | 0 |
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock | (253) | (232) | (220) |
Other | (167) | (470) | (71) |
Net cash provided by (used in) financing activities | (1,266) | (1,018) | (716) |
Increase (decrease) in cash and cash equivalents | 938 | (1,644) | 2,143 |
Cash and cash equivalents, beginning of year | 1,881 | 3,525 | 1,382 |
Cash and cash equivalents, end of year | 2,819 | 1,881 | 3,525 |
Elimination and Consolidation Adjustments [Member] | |||
Operating Activities | |||
Net cash provided by operating activities | 0 | 0 | 0 |
Investing Activities | |||
Net transactions with affiliates | 0 | 0 | 0 |
Capital expenditures | 0 | 0 | 0 |
Cash paid for intangible assets | 0 | 0 | 0 |
Acquisitions and construction of real estate properties | 0 | 0 | 0 |
Acquisitions, net of cash acquired | 0 | 0 | 0 |
Proceeds from sales of businesses and investments | 0 | 0 | 0 |
Purchases of investments | 0 | 0 | 0 |
Deposits | 0 | 0 | 0 |
Other | 0 | 0 | 0 |
Net cash provided by (used in) investing activities | 0 | 0 | 0 |
Financing Activities | |||
Proceeds from (repayments of) short-term borrowings, net | 0 | 0 | 0 |
Proceeds from borrowings | 0 | 0 | 0 |
Repurchases and repayments of debt | 0 | 0 | 0 |
Repurchases and retirements of common stock | 0 | 0 | 0 |
Dividends paid | 0 | 0 | 0 |
Issuances of common stock | 0 | 0 | 0 |
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock | 0 | 0 | 0 |
Other | 0 | 0 | 0 |
Net cash provided by (used in) financing activities | 0 | 0 | 0 |
Increase (decrease) in cash and cash equivalents | 0 | 0 | 0 |
Cash and cash equivalents, beginning of year | 0 | 0 | 0 |
Cash and cash equivalents, end of year | $ 0 | $ 0 | $ 0 |
Schedule II Valuation and Qu105
Schedule II Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Allowance for doubtful accounts [Member] | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at Beginning of Year | $ 226 | $ 205 | $ 221 |
Additions Charged to Costs and Expenses | 86 | 166 | 162 |
Deductions from Reserves | 62 | 145 | 178 |
Balance at End of Year | 250 | 226 | 205 |
Allowance for doubtful accounts [Member] | NBCUniversal Media LLC [Member] | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at Beginning of Year | 69 | 60 | 65 |
Additions Charged to Costs and Expenses | 26 | 27 | 11 |
Deductions from Reserves | 11 | 18 | 16 |
Balance at End of Year | 84 | 69 | 60 |
Allowance for returns and customer incentives [Member] | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at Beginning of Year | 473 | 359 | 375 |
Additions Charged to Costs and Expenses | 1,041 | 1,236 | 932 |
Deductions from Reserves | 1,097 | 1,122 | 948 |
Balance at End of Year | 417 | 473 | 359 |
Allowance for returns and customer incentives [Member] | NBCUniversal Media LLC [Member] | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at Beginning of Year | 469 | 356 | 372 |
Additions Charged to Costs and Expenses | 1,040 | 1,233 | 930 |
Deductions from Reserves | 1,096 | 1,120 | 946 |
Balance at End of Year | 413 | 469 | 356 |
Valuation allowance on deferred tax assets [Member] | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at Beginning of Year | 342 | 375 | 405 |
Additions Charged to Costs and Expenses | 23 | 4 | 33 |
Deductions from Reserves | 99 | 37 | 63 |
Balance at End of Year | 266 | 342 | 375 |
Valuation allowance on deferred tax assets [Member] | NBCUniversal Media LLC [Member] | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at Beginning of Year | 71 | 87 | 60 |
Additions Charged to Costs and Expenses | 23 | 4 | 33 |
Deductions from Reserves | 22 | 20 | 6 |
Balance at End of Year | $ 72 | $ 71 | $ 87 |