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Segment Information
 6 Months Ended
Jun. 30, 2019
Segment Reporting Information [Line Items]  
Segment Information Segment Information
We present our operations in six reportable business segments: (1) Comcast Cable in one reportable business segment, referred to as Cable Communications; (2) NBCUniversal in four reportable business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks (collectively, the “NBCUniversal segments”); and (3) Sky in one reportable business segment.
Our Cable Communications segment consists of the operations of Comcast Cable, which is one of the nation’s largest providers of high-speed internet, video, voice, wireless, and security and automation services (“cable services”) to residential customers under the Xfinity brand; we also provide these and other services to business customers and sell advertising.
Our Cable Networks segment consists primarily 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, our cable television studio production operations, and various digital properties.
Our Broadcast Television segment consists primarily of the NBC and Telemundo broadcast networks, our NBC and Telemundo owned local broadcast television stations, the NBC Universo national cable network, our broadcast television studio production operations, and various digital properties.
Our Filmed Entertainment segment consists primarily of the operations of Universal Pictures, which produces, acquires, markets and distributes filmed entertainment worldwide; our films are also produced under the Illumination, DreamWorks Animation and Focus Features names.
Our Theme Parks segment consists primarily of our Universal theme parks in Orlando, Florida; Hollywood, California; and Osaka, Japan. In addition, along with a consortium of Chinese state-owned companies, we are developing a Universal theme park and resort in Beijing, China.
Our Sky segment consists of the operations of Sky, one of Europe’s leading entertainment companies, which primarily includes a direct-to-consumer business, providing video, high-speed internet, voice and wireless phone services, and a content business, operating entertainment networks, the Sky News broadcast network and Sky Sports networks.
Our other business interests consist primarily of the operations of Comcast Spectacor, which owns the Philadelphia Flyers and the Wells Fargo Center arena in Philadelphia, Pennsylvania.
We use Adjusted EBITDA to evaluate the profitability of our operating segments and the components of net income attributable to Comcast Corporation excluded from Adjusted EBITDA are not separately evaluated. Beginning in the first quarter of 2019, Comcast Cable’s wireless phone service and certain other Cable-related business development initiatives are now presented in the Cable Communications segment. Results were previously presented in Corporate and Other. Prior periods have been adjusted to reflect this presentation.
To be consistent with our current management reporting presentation, certain 2018 operating results were reclassified related to certain NBCUniversal businesses now presented in the Sky segment. Our financial data by business segment is presented in the tables below.
 
Three Months Ended June 30, 2019
(in millions)
Revenue
Adjusted EBITDA(d)
Depreciation and Amortization
Capital
Expenditures
Cash Paid for Intangible Assets
Cable Communications
$
14,450

$
5,854

$
2,036

$
1,594

$
303

NBCUniversal
 
 
 
 
 
Cable Networks
2,947

1,201

183

6

4

Broadcast Television
2,402

534

40

37

3

Filmed Entertainment
1,457

183

20

4

6

Theme Parks
1,464

590

170

378

17

Headquarters and Other(a)
22

(182
)
114

48

35

Eliminations(b)
(86
)
(2
)
—

—

—

NBCUniversal
8,206

2,324

527

473

65

Sky
4,828

772

673

177

152

Corporate and Other(c)
56

(213
)
40

19

11

Eliminations(b)
(682
)
(21
)
—

—

—

Comcast Consolidated
$
26,858

$
8,716

$
3,276

$
2,263

$
531

 
Three Months Ended June 30, 2018
(in millions)
Revenue
Adjusted EBITDA(d)
Depreciation and Amortization
Capital
Expenditures
Cash Paid for Intangible Assets
Cable Communications
$
13,912

$
5,449

$
2,023

$
1,767

$
344

NBCUniversal
 
 
 
 
 
Cable Networks
2,874

1,176

179

8

5

Broadcast Television
2,391

417

40

32

3

Filmed Entertainment
1,710

138

63

8

8

Theme Parks
1,361

569

167

360

119

Headquarters and Other(a)
15

(148
)
104

53

31

Eliminations(b)
(78
)
(2
)
—

—

—

NBCUniversal
8,273

2,150

553

461

166

Corporate and Other(c)
96

(192
)
27

22

1

Eliminations(b)
(546
)
10

—

—

—

Comcast Consolidated
$
21,735

$
7,417

$
2,603

$
2,250

$
511

 
Six Months Ended June 30, 2019
(in millions)
Revenue
Adjusted EBITDA(d)
Depreciation and Amortization
Capital
Expenditures
Cash Paid for Intangible Assets
Cable Communications
$
28,730

$
11,582

$
4,071

$
2,957

$
626

NBCUniversal
 
 
 
 

Cable Networks
5,815

2,463

365

12

6

Broadcast Television
4,869

921

79

50

6

Filmed Entertainment
3,225

547

39

8

11

Theme Parks
2,740

1,088

332

772

36

Headquarters and Other(a)
39

(356
)
227

84

77

Eliminations(b)
(169
)
(2
)
—

—

—

NBCUniversal
16,519

4,661

1,042

926

136

Sky
9,625

1,435

1,414

436

303

Corporate and Other(c)
164

(400
)
69

36

13

Eliminations(b)
(1,321
)
(9
)
—

—

—

Comcast Consolidated
$
53,717

$
17,269

$
6,596

$
4,355

$
1,078

 
Six Months Ended June 30, 2018
(in millions)
Revenue
Adjusted EBITDA(d)
Depreciation and Amortization
Capital
Expenditures
Cash Paid for Intangible Assets
Cable Communications
$
27,615

$
10,666

$
4,084

$
3,458

$
631

NBCUniversal
 
 
 
 

Cable Networks(e)
6,031

2,430

368

11

9

Broadcast Television(e)
5,888

924

74

62

75

Filmed Entertainment
3,357

341

91

15

14

Theme Parks
2,642

1,064

322

542

135

Headquarters and Other(a)
29

(336
)
208

100

63

Eliminations(b)(e)
(177
)
(2
)
—

—

—

NBCUniversal
17,770

4,421

1,063

730

296

Corporate and Other(c)
339

(377
)
55

35

3

Eliminations(b)(e)
(1,198
)
(49
)
—

—

—

Comcast Consolidated
$
44,526

$
14,661

$
5,202

$
4,223

$
930


(a)
NBCUniversal Headquarters and Other activities include costs associated with overhead, allocations, personnel costs and headquarter initiatives.
(b)
Included in Eliminations are transactions that our segments entered 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 Cable Networks and Broadcast Television segments generate revenue by selling advertising to our Cable Communications segment
•
our Filmed Entertainment and Broadcast Television segments generate revenue by licensing content to our Cable Networks segment; for segment reporting, this revenue is recognized as the programming rights asset for the licensed content is amortized based on third party revenue
•
our Filmed Entertainment, Cable Networks and Broadcast Television segments generate revenue by licensing content to our Sky segment
(c)
Corporate and Other activities include costs associated with overhead and personnel, revenue and expenses associated with operations of Comcast Spectacor, which owns the Philadelphia Flyers and the Wells Fargo Center arena in Philadelphia, Pennsylvania, as well as other business development initiatives.
(d)
We use Adjusted EBITDA as the measure of profit or loss for our operating segments. Adjusted EBITDA is defined as net income attributable to Comcast Corporation before net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock, income tax expense, investment and other income (loss), net, interest expense, depreciation and amortization expense, and other operating gains and losses (such as impairment charges related to fixed and intangible assets and gains or losses on the sale of long-lived assets), if any. From time to time, we may exclude from Adjusted EBITDA the impact of certain events, gains, losses or other charges (such as significant legal settlements) that affect the period-to-period comparability of our operating performance. Our reconciliation of the aggregate amount of Adjusted EBITDA for our reportable segments to consolidated income before income taxes is presented in the table below.
 
Three Months Ended
June 30
 
Six Months Ended
June 30
(in millions)
2019
 
2018
 
2019
 
2018
Adjusted EBITDA
$
8,716

 
$
7,417

 
$
17,269

 
$
14,661

Adjustment for Sky transaction-related costs
(84
)
 
—

 
(135
)
 
—

Depreciation
(2,197
)
 
(2,021
)
 
(4,437
)
 
(4,032
)
Amortization
(1,079
)
 
(582
)
 
(2,159
)
 
(1,170
)
Other operating gains
—

 
200

 
—

 
200

Interest expense
(1,137
)
 
(806
)
 
(2,287
)
 
(1,583
)
Investment and other income (loss), net
(55
)
 
77

 
621

 
203

Income before income taxes
$
4,164

 
$
4,285

 
$
8,872

 
$
8,279


(e)
The revenue and operating costs and expenses associated with our broadcast of the 2018 PyeongChang Olympics were reported in our Cable Networks and Broadcast Television segments. The revenue and operating costs and expenses associated with our broadcast of the 2018 Super Bowl were reported in our Broadcast Television segment. Included in Eliminations are transactions relating to these events that our Broadcast Television and Cable Networks segments entered into with our other segments.
NBCUniversal Media LLC [Member]  
Segment Reporting Information [Line Items]  
Segment Information Segment Information
We present our operations in four reportable business segments:
Our Cable Networks segment consists primarily 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, our cable television studio production operations, and various digital properties.
Our Broadcast Television segment consists primarily of the NBC and Telemundo broadcast networks, our NBC and Telemundo owned local broadcast television stations, the NBC Universo national cable network, our broadcast television studio production operations, and various digital properties.
Our Filmed Entertainment segment consists primarily of the operations of Universal Pictures, which produces, acquires, markets and distributes filmed entertainment worldwide; our films are also produced under the Illumination, DreamWorks Animation and Focus Features names.
Our Theme Parks segment consists primarily of our Universal theme parks in Orlando, Florida; Hollywood, California; and Osaka, Japan. In addition, along with a consortium of Chinese state-owned companies, we are developing a Universal theme park and resort in Beijing, China.
We use Adjusted EBITDA to evaluate the profitability of our operating segments and the components of net income attributable to NBCUniversal excluded from Adjusted EBITDA are not separately evaluated. To be consistent with our current management reporting presentation, 2018 operating results were reclassified related to certain NBCUniversal businesses now presented in Headquarters and Other. Our financial data by business segment is presented in the tables below.
 
Three Months Ended June 30, 2019
(in millions)
Revenue
Adjusted EBITDA(c)
Depreciation and Amortization
Capital
Expenditures
Cash Paid for Intangible Assets
Cable Networks
$
2,947

$
1,201

$
183

$
6

$
4

Broadcast Television
2,402

534

40

37

3

Filmed Entertainment
1,457

183

20

4

6

Theme Parks
1,464

590

170

378

17

Headquarters and Other(a)
45

(195
)
114

48

35

Eliminations(b)
(88
)
(2
)
—

—

—

Total
$
8,227

$
2,311

$
527

$
473

$
65

 
Three Months Ended June 30, 2018
(in millions)
Revenue
Adjusted EBITDA(c)
Depreciation and Amortization
Capital
Expenditures
Cash Paid for Intangible Assets
Cable Networks
$
2,874

$
1,176

$
179

$
8

$
5

Broadcast Television
2,391

417

40

32

3

Filmed Entertainment
1,710

138

63

8

8

Theme Parks
1,361

569

167

360

119

Headquarters and Other(a)
57

(138
)
104

53

31

Eliminations(b)
(80
)
(2
)
—

—

—

Total
$
8,313

$
2,160

$
553

$
461

$
166

 
Six Months Ended June 30, 2019
(in millions)
Revenue
Adjusted EBITDA(c)
Depreciation and Amortization
Capital
Expenditures
Cash Paid for Intangible Assets
Cable Networks
$
5,815

$
2,463

$
365

$
12

$
6

Broadcast Television
4,869

921

79

50

6

Filmed Entertainment
3,225

547

39

8

11

Theme Parks
2,740

1,088

332

772

36

Headquarters and Other(a)
96

(359
)
227

84

77

Eliminations(b)
(173
)
(2
)
—

—

—

Total
$
16,572

$
4,658

$
1,042

$
926

$
136

 
 
Six Months Ended June 30, 2018
(in millions)
Revenue
Adjusted EBITDA(c)
Depreciation and Amortization
Capital
Expenditures
Cash Paid for Intangible Assets
Cable Networks(d)
$
6,031

$
2,430

$
368

$
11

$
9

Broadcast Television(d)
5,888

924

74

62

75

Filmed Entertainment
3,357

341

91

15

14

Theme Parks
2,642

1,064

322

542

135

Headquarters and Other(a)
108

(312
)
208

100

63

Eliminations(b)(d)
(183
)
(2
)
—

—

—

Total
$
17,843

$
4,445

$
1,063

$
730

$
296

(a)
Headquarters and Other activities include costs associated with overhead, allocations, personnel costs and headquarter initiatives.
(b)
Included in 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; for segment reporting, this revenue is recognized as the programming rights asset for the licensed content is amortized based on third party revenue.
(c)
We use Adjusted EBITDA as the measure of profit or loss for our operating segments. Adjusted EBITDA is defined as net income attributable to NBCUniversal before net income (loss) attributable to noncontrolling interests, income tax expense, investment and other income (loss), net, interest expense, depreciation and amortization expense, and other operating gains and losses (such as impairment charges related to fixed and intangible assets and gains or losses on the sale of long-lived assets), if any. From time to time, we may exclude from Adjusted EBITDA the impact of certain events, gains, losses or other charges (such as significant legal settlements) that affect the period-to-period comparability of our operating performance. Our reconciliation of the aggregate amount of Adjusted EBITDA for our reportable segments to consolidated income before income taxes is presented in the table below.
 
Three Months Ended
June 30
 
Six Months Ended
June 30
(in millions)
2019
 
2018
 
2019
 
2018
Adjusted EBITDA
$
2,311

 
$
2,160

 
$
4,658

 
$
4,445

Depreciation
(253
)
 
(258
)
 
(496
)
 
(500
)
Amortization
(274
)
 
(295
)
 
(546
)
 
(563
)
Interest expense
(122
)
 
(133
)
 
(253
)
 
(260
)
Investment and other income (loss), net
40

 
(168
)
 
280

 
(172
)
Income before income taxes
$
1,702

 
$
1,306

 
$
3,643

 
$
2,950


(d)
The revenue and operating costs and expenses associated with our broadcast of the 2018 PyeongChang Olympics were reported in our Cable Networks and Broadcast Television segments. The revenue and operating costs and expenses associated with our broadcast of the 2018 Super Bowl were reported in our Broadcast Television segment. Included in Eliminations are transactions relating to these events that our Broadcast Television and Cable Networks segments entered into with our other segments.