Condensed Consolidating Financial Information

12 Months Ended

Dec. 31, 2019

Condensed Financial Information 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”) fully and unconditionally guarantee each other’s debt. See Note 7 for additional information on the cross-guarantee structure.

Condensed Consolidating Statement of Income

For the Year Ended December 31, 2019 (in millions)	Comcast Parent			Comcast Holdings			CCCL Parent			NBCUniversal Media Parent			Non- Guarantor Subsidiaries			Elimination and Consolidation Adjustments			Consolidated Comcast Corporation
Revenue:
Service revenue	$	—		$	—		$	—		$	—		$	108,942		$	—		$	108,942
Management fee revenue	1,262			—			1,236			—			—			(2,498		)	—
Total revenue	1,262			—			1,236			—			108,942			(2,498		)	108,942
Costs and Expenses:
Programming and production	—			—			—			—			34,440			—			34,440
Other operating and administrative	801			16			1,236			957			32,295			(2,498		)	32,807
Advertising, marketing and promotion	—			—			—			—			7,617			—			7,617
Depreciation	61			—			—			—			8,602			—			8,663
Amortization	5			—			—			—			4,285			—			4,290
Other operating gains	—			—			—			—			—			—			—
Total costs and expenses	867			16			1,236			957			87,239			(2,498		)	87,817
Operating income (loss)	395			(16		)	—			(957		)	21,703			—			21,125
Interest expense	(3,511		)	(13		)	(190		)	(474		)	(379		)	—			(4,567		)
Investment and other income (loss), net	15,581			15,366			13,787			7,260			5,755			(57,311		)	438
Income (loss) before income taxes	12,465			15,337			13,597			5,829			27,079			(57,311		)	16,996
Income tax (expense) benefit	592			(9		)	40			(45		)	(4,251		)	—			(3,673		)
Net income (loss)	13,057			15,328			13,637			5,784			22,828			(57,311		)	13,323
Less: Net income attributable to noncontrolling interests and redeemable subsidiary preferred stock	—			—			—			—			266			—			266
Net income (loss) attributable to Comcast Corporation	$	13,057		$	15,328		$	13,637		$	5,784		$	22,562		$	(57,311	)	$	13,057
Comprehensive income (loss) attributable to Comcast Corporation	$	14,472		$	15,321		$	13,641		$	5,744		$	24,210		$	(58,916	)	$	14,472

Condensed Consolidating Statement of Income

For the Year Ended December 31, 2018 (in millions)	Comcast Parent			Comcast Holdings			CCCL Parent			NBCUniversal Media Parent			Non- Guarantor Subsidiaries			Elimination and Consolidation Adjustments			Consolidated Comcast Corporation
Revenue:
Service revenue	$	—		$	—		$	—		$	—		$	94,507		$	—		$	94,507
Management fee revenue	1,197			—			1,175			—			—			(2,372		)	—
Total revenue	1,197			—			1,175			—			94,507			(2,372		)	94,507
Costs and Expenses:
Programming and production	—			—			—			—			29,692			—			29,692
Other operating and administrative	947			—			1,175			1,023			27,321			(2,372		)	28,094
Advertising, marketing and promotion	—			—			—			—			7,036			—			7,036
Depreciation	46			—			—			—			8,235			—			8,281
Amortization	5			—			—			—			2,731			—			2,736
Other operating gains	—			—			—			—			(341		)	—			(341		)
Total costs and expenses	998			—			1,175			1,023			74,674			(2,372		)	75,498
Operating income (loss)	199			—			—			(1,023		)	19,833			—			19,009
Interest expense	(2,644		)	(12		)	(190		)	(430		)	(266		)	—			(3,542		)
Investment and other income (loss), net	13,638			13,604			12,021			6,694			5,054			(51,236		)	(225		)
Income (loss) before income taxes	11,193			13,592			11,831			5,241			24,621			(51,236		)	15,242
Income tax (expense) benefit	538			8			40			(4		)	(3,962		)	—			(3,380		)
Net income (loss)	11,731			13,600			11,871			5,237			20,659			(51,236		)	11,862
Less: Net income loss attributable to noncontrolling interests and redeemable subsidiary preferred stock	—			—			—			—			131			—			131
Net income (loss) attributable to Comcast Corporation	$	11,731		$	13,600		$	11,871		$	5,237		$	20,528		$	(51,236	)	$	11,731
Comprehensive income (loss) attributable to Comcast Corporation	$	10,908		$	13,623		$	11,873		$	5,279		$	19,553		$	(50,328	)	$	10,908

Condensed Consolidating Statement of Income

For the Year Ended December 31, 2017 (in millions)	Comcast Parent			Comcast Holdings			CCCL Parent			NBCUniversal Media Parent			Non- Guarantor Subsidiaries			Elimination and Consolidation Adjustments			Consolidated Comcast Corporation
Revenue:
Service revenue	$	—		$	—		$	—		$	—		$	85,029		$	—		$	85,029
Management fee revenue	1,128			—			1,109			—			—			(2,237		)	—
Total revenue	1,128			—			1,109			—			85,029			(2,237		)	85,029
Costs and Expenses:
Programming and production	—			—			—			—			25,355			—			25,355
Other operating and administrative	766			—			1,109			1,044			24,767			(2,237		)	25,449
Advertising, marketing and promotion	—			—			—			—			6,519			—			6,519
Depreciation	31			—			—			—			7,883			—			7,914
Amortization	6			—			—			—			2,210			—			2,216
Other operating gains	—			—			—			—			(442		)	—			(442		)
Total costs and expenses	803			—			1,109			1,044			66,292			(2,237		)	67,011
Operating income (loss)	325			—			—			(1,044		)	18,737			—			18,018
Interest expense	(2,172		)	(12		)	(207		)	(456		)	(239		)	—			(3,086		)
Investment and other income (loss), net	24,076			21,767			19,610			6,584			5,545			(77,161		)	421
Income (loss) before income taxes	22,229			21,755			19,403			5,084			24,043			(77,161		)	15,353
Income tax (expense) benefit	506			156			71			(4		)	6,840			—			7,569
Net income (loss)	22,735			21,911			19,474			5,080			30,883			(77,161		)	22,922
Less: Net income attributable to noncontrolling interests and redeemable subsidiary preferred stock	—			—			—			—			187			—			187
Net income (loss) attributable to Comcast Corporation	$	22,735		$	21,911		$	19,474		$	5,080		$	30,696		$	(77,161	)	$	22,735
Comprehensive income (loss) attributable to Comcast Corporation	$	22,822		$	21,909		$	19,477		$	5,054		$	30,558		$	(76,998	)	$	22,822

Condensed Consolidating Statement of Cash Flows

For the Year Ended December 31, 2019 (in millions)	Comcast Parent			Comcast Holdings			CCCL Parent			NBCUniversal Media Parent			Non- Guarantor Subsidiaries			Elimination and Consolidation Adjustments		Consolidated Comcast Corporation
Net cash provided by (used in) operating activities	$	(1,693	)	$	318		$	(119	)	$	(1,232	)	$	28,423		$	—	$	25,697
Investing Activities:
Net transactions with affiliates	10,218			(318		)	119			3,354			(13,373		)	—		—
Capital expenditures	(42		)	—			—			—			(9,911		)	—		(9,953		)
Cash paid for intangible assets	(4		)	—			—			—			(2,471		)	—		(2,475		)
Acquisitions and construction of real estate properties	(51		)	—			—			—			(3		)	—		(54		)
Construction of Universal Beijing Resort	—			—			—			—			(1,116		)	—		(1,116		)
Acquisitions, net of cash acquired	—			—			—			—			(370		)	—		(370		)
Proceeds from sales of businesses and investments	—			—			—			—			886			—		886
Purchases of investments	(36		)	—			—			(72		)	(1,791		)	—		(1,899		)
Other	—			—			—			—			140			—		140
Net cash provided by (used in) investing activities	10,085			(318		)	119			3,282			(28,009		)	—		(14,841		)
Financing Activities:
Proceeds from (repayments of) short-term borrowings, net	—			—			—			—			(1,288		)	—		(1,288		)
Proceeds from borrowings	4,741			—			—			—			738			—		5,479
Proceeds from collateralized obligation	—			—			—			—			5,175			—		5,175
Repurchases and repayments of debt	(8,821		)	—			—			(2,010		)	(3,523		)	—		(14,354		)
Repurchases of common stock under repurchase program and employee plans	(504		)	—			—			—			—			—		(504		)
Dividends paid	(3,735		)	—			—			—			—			—		(3,735		)
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock	—			—			—			—			(311		)	—		(311		)
Other	(78		)	—			—			(40		)	475			—		357
Net cash provided by (used in) financing activities	(8,397		)	—			—			(2,050		)	1,266			—		(9,181		)
Impact of foreign currency on cash, cash equivalents and restricted cash	5			—			—			—			—			—		5
Increase (decrease) in cash and cash equivalents and restricted cash	—			—			—			—			1,680			—		1,680
Cash, cash equivalents and restricted cash, beginning of year	—			—			—			416			3,493			—		3,909
Cash, cash equivalents and restricted cash, end of year	$	—		$	—		$	—		$	416		$	5,173		$	—	$	5,589

Condensed Consolidating Statement of Cash Flows  

For the Year Ended December 31, 2018 (in millions)	Comcast Parent			Comcast Holdings			CCCL Parent			NBCUniversal Media Parent			Non- Guarantor Subsidiaries			Elimination and Consolidation Adjustments		Consolidated Comcast Corporation
Net cash provided by (used in) operating activities	$	(2,245	)	$	126		$	(112	)	$	(1,430	)	$	27,958		$	—	$	24,297
Investing Activities:
Net transactions with affiliates	(26,179		)	(575		)	112			1,336			25,306			—		—
Capital expenditures	(27		)	—			—			—			(9,747		)	—		(9,774		)
Cash paid for intangible assets	(4		)	—			—			—			(1,931		)	—		(1,935		)
Acquisitions and construction of real estate properties	(105		)	—			—			—			(38		)	—		(143		)
Construction of Universal Beijing Resort	—			—			—			—			(460		)	—		(460		)
Acquisitions, net of cash acquired	—			—			—			—			(38,219		)	—		(38,219		)
Proceeds from sales of businesses and investments	—			—			—			68			73			—		141
Purchases of investments	(126		)	—			—			(50		)	(1,081		)	—		(1,257		)
Other	148			449			—			—			196			—		793
Net cash provided by (used in) investing activities	(26,293		)	(126		)	112			1,354			(25,901		)	—		(50,854		)
Financing Activities:
Proceeds from (repayments of) short-term borrowings, net	(902		)	—			—			—			1,281			—		379
Proceeds from borrowings	44,113			—			—			—			668			—		44,781
Repurchases and repayments of debt	(5,737		)	—			—			(4		)	(3,057		)	—		(8,798		)
Repurchases of common stock under repurchase program and employee plans	(5,320		)	—			—			—			—			—		(5,320		)
Dividends paid	(3,352		)	—			—			—			—			—		(3,352		)
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock	—			—			—			—			(277		)	—		(277		)
Other	(201		)	—			—			—			(72		)	—		(273		)
Net cash provided by (used in) financing activities	28,601			—			—			(4		)	(1,457		)	—		27,140
Impact of foreign currency on cash, cash equivalents and restricted cash	(63		)	—			—			—			(182		)	—		(245		)
Increase (decrease) in cash and cash equivalents and restricted cash	—			—			—			(80		)	418			—		338
Cash, cash equivalents and restricted cash, beginning of year	—			—			—			496			3,075			—		3,571
Cash, cash equivalents and restricted cash, end of year	$	—		$	—		$	—		$	416		$	3,493		$	—	$	3,909

Condensed Consolidating Statement of Cash Flows

For the Year Ended December 31, 2017 (in millions)	Comcast Parent			Comcast Holdings			CCCL Parent			NBCUniversal Media Parent			Non- Guarantor Subsidiaries			Elimination and Consolidation Adjustments		Consolidated Comcast Corporation
Net cash provided by (used in) operating activities	$	151		$	15		$	(147	)	$	(1,439	)	$	22,681		$	—	$	21,261
Investing Activities:
Net transactions with affiliates	5,578			(5		)	757			1,447			(7,777		)	—		—
Capital expenditures	(12		)	—			—			—			(9,538		)	—		(9,550		)
Cash paid for intangible assets	(4		)	—			—			—			(1,601		)	—		(1,605		)
Acquisitions and construction of real estate properties	(267		)	—			—			—			(151		)	—		(418		)
Construction of Universal Beijing Resort	—			—			—			—			(71		)	—		(71		)
Acquisitions, net of cash acquired	—			—			—			—			(532		)	—		(532		)
Proceeds from sales of businesses and investments	—			—			—			14			136			—		150
Purchases of investments	(70		)	(10		)	(60		)	(62		)	(2,090		)	—		(2,292		)
Other	101			—			—			58			626			—		785
Net cash provided by (used in) investing activities	5,326			(15		)	697			1,457			(20,998		)	—		(13,533		)
Financing Activities:
Proceeds from (repayments of) short-term borrowings, net	(837		)	—			—			—			(1,068		)	—		(1,905		)
Proceeds from borrowings	5,997			—			—			—			5,469			—		11,466
Repurchases and repayments of debt	(2,288		)	—			(550		)	(4		)	(3,522		)	—		(6,364		)
Repurchases of common stock under repurchase program and employee plans	(5,435		)	—			—			—			—			—		(5,435		)
Dividends paid	(2,883		)	—			—			—			—			—		(2,883		)
Purchase of Universal Studios Japan noncontrolling interests	—			—			—			—			(2,299		)	—		(2,299		)
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock	—			—			—			—			(252		)	—		(252		)
Other	(31		)	—			—			—			131			—		100
Net cash provided by (used in) financing activities	(5,477		)	—			(550		)	(4		)	(1,541		)	—		(7,572		)
Increase (decrease) in cash and cash equivalents and restricted cash	—			—			—			14			142			—		156
Cash, cash equivalents and restricted cash, beginning of year	—			—			—			482			2,933			—		3,415
Cash, cash equivalents and restricted cash, end of year	$	—		$	—		$	—		$	496		$	3,075		$	—	$	3,571

Condensed Consolidating Balance Sheet

December 31, 2019 (in millions)	Comcast Parent		Comcast Holdings		CCCL Parent		NBCUniversal Media Parent		Non- Guarantor Subsidiaries		Elimination and Consolidation Adjustments			Consolidated Comcast Corporation
Assets
Cash and cash equivalents	$	—	$	—	$	—	$	416	$	5,084	$	—		$	5,500
Receivables, net	—		—		—		—		11,292		—			11,292
Programming rights	—		—		—		—		3,877		—			3,877
Other current assets	115		19		—		24		4,565		—			4,723
Total current assets	115		19		—		440		24,818		—			25,392
Film and television costs	—		—		—		—		8,933		—			8,933
Investments	270		12		156		1,085		5,466		—			6,989
Investment securing collateralized obligation	—		—		—		—		694		—			694
Investments in and amounts due from subsidiaries eliminated upon consolidation	164,754		152,179		135,536		55,472		92,925		(600,866		)	—
Property and equipment, net	660		—		—		—		47,662		—			48,322
Goodwill	—		—		—		—		68,725		—			68,725
Franchise rights	—		—		—		—		59,365		—			59,365
Other intangible assets, net	9		—		—		—		36,119		—			36,128
Other noncurrent assets, net	1,058		327		—		97		7,919		(535		)	8,866
Total assets	$	166,866	$	152,537	$	135,692	$	57,094	$	352,626	$	(601,401	)	$	263,414
Liabilities and Equity
Accounts payable and accrued expenses related to trade creditors	$	58	$	—	$	—	$	—	$	10,768	$	—		$	10,826
Accrued participations and residuals	—		—		—		—		1,730		—			1,730
Deferred revenue	—		—		—		—		2,768		—			2,768
Accrued expenses and other current liabilities	2,333		245		388		380		7,170		—			10,516
Current portion of long-term debt	2,731		—		—		7		1,714		—			4,452
Total current liabilities	5,122		245		388		387		24,150		—			30,292
Long-term debt, less current portion	75,786		154		2,100		5,752		13,973		—			97,765
Collateralized obligation	—		—		—		—		5,166		—			5,166
Deferred income taxes	—		350		—		67		28,298		(535		)	28,180
Other noncurrent liabilities	3,232		145		—		1,634		11,754		—			16,765
Redeemable noncontrolling interests and redeemable subsidiary preferred stock	—		—		—		—		1,372		—			1,372
Equity:
Common stock	54		—		—		—		—		—			54
Other shareholders’ equity	82,672		151,643		133,204		49,254		266,765		(600,866		)	82,672
Total Comcast Corporation shareholders’ equity	82,726		151,643		133,204		49,254		266,765		(600,866		)	82,726
Noncontrolling interests	—		—		—		—		1,148		—			1,148
Total equity	82,726		151,643		133,204		49,254		267,913		(600,866		)	83,874
Total liabilities and equity	$	166,866	$	152,537	$	135,692	$	57,094	$	352,626	$	(601,401	)	$	263,414

Condensed Consolidating Balance Sheet

December 31, 2018 (in millions)	Comcast Parent		Comcast Holdings		CCCL Parent		NBCUniversal Media Parent		Non- Guarantor Subsidiaries		Elimination and Consolidation Adjustments			Consolidated Comcast Corporation
Assets
Cash and cash equivalents	$	—	$	—	$	—	$	416	$	3,398	$	—		$	3,814
Receivables, net	—		—		—		—		11,104		—			11,104
Programming rights	—		—		—		—		3,746		—			3,746
Other current assets	66		20		—		28		3,070		—			3,184
Total current assets	66		20		—		444		21,318		—			21,848
Film and television costs	—		—		—		—		7,837		—			7,837
Investments	270		11		143		790		6,669		—			7,883
Investments in and amounts due from subsidiaries eliminated upon consolidation	157,264		147,028		130,214		53,853		97,872		(586,231		)	—
Property and equipment, net	670		—		—		—		43,767		—			44,437
Goodwill	—		—		—		—		66,154		—			66,154
Franchise Rights	—		—		—		—		59,365		—			59,365
Other intangible assets, net	11		—		—		—		38,347		—			38,358
Other noncurrent assets, net	1,057		208		—		85		4,910		(458		)	5,802
Total assets	$	159,338	$	147,267	$	130,357	$	55,172	$	346,239	$	(586,689	)	$	251,684
Liabilities and Equity
Accounts payable and accrued expenses related to trade creditors	$	2	$	—	$	—	$	—	$	8,492	$	—		$	8,494
Accrued participations and residuals	—		—		—		—		1,808		—			1,808
Deferred revenue	—		—		—		—		2,182		—			2,182
Accrued expenses and other current liabilities	2,357		150		360		282		7,572		—			10,721
Current portion of long-term debt	699		—		—		4		3,695		—			4,398
Total current liabilities	3,058		150		360		286		23,749		—			27,603
Long-term debt, less current portion	81,661		146		2,100		7,748		15,690		—			107,345
Deferred income taxes	—		314		—		65		27,734		(524		)	27,589
Other noncurrent liabilities	3,006		—		—		1,201		11,056		66			15,329
Redeemable noncontrolling interests and redeemable subsidiary preferred stock	—		—		—		—		1,316		—			1,316
Equity:
Common stock	54		—		—		—		—		—			54
Other shareholders’ equity	71,559		146,657		127,897		45,872		265,805		(586,231		)	71,559
Total Comcast Corporation shareholders’ equity	71,613		146,657		127,897		45,872		265,805		(586,231		)	71,613
Noncontrolling interests	—		—		—		—		889		—			889
Total equity	71,613		146,657		127,897		45,872		266,694		(586,231		)	72,502
Total liabilities and equity	$	159,338	$	147,267	$	130,357	$	55,172	$	346,239	$	(586,689	)	$	251,684