Condensed Consolidating Financial Information

6 Months Ended

Jun. 30, 2013

Condensed Consolidating Financial Information [Abstract]

Condensed Consolidating Financial Information

Note 15: Condensed Consolidating Financial Information

Comcast Corporation (“Comcast Parent”) and four of our 100% owned cable holding company subsidiaries, Comcast Cable Communications, LLC (“CCCL Parent”), Comcast MO Group, Inc. (“Comcast MO Group”), Comcast Cable Holdings, LLC (“CCH”) and Comcast MO of Delaware, LLC (“Comcast MO of Delaware”) (collectively, the “cable guarantors”),have fully and unconditionally guaranteed each other's debt securities. Comcast MO Group, CCH and Comcast MO of Delaware are collectively referred to as the “Combined CCHMO Parents.”

On March 27, 2013, Comcast Parent, the cable guarantors and NBCUniversal Media, LLC (referred to as “NBCUniversal Media Parent” in the tables below) entered into a series of agreements and supplemental indentures to include NBCUniversal Media, LLC as part of our existing cross-guarantee structure. As members of the cross-guarantee structure, Comcast Parent and the cable guarantors fully and unconditionally guarantee NBCUniversal Media, LLC's public debt securities, and NBCUniversal Media, LLC fully and unconditionally guarantees all of Comcast's and the cable guarantors' public debt securities, as well as the Comcast and Comcast Cable Communications, LLC $6.25 billion revolving credit facility.

Comcast Parent and the cable guarantors also fully and unconditionally guarantee NBCUniversal Enterprise's $4 billion of senior notes and its $1.35 billion credit facility due March 2018. NBCUniversal Media, LLC does not guarantee the NBCUniversal Enterprise senior notes or credit facility.

Comcast Parentprovides an unconditional subordinated guarantee ofthe $185 million principal amount currently outstanding of Comcast Holdings' ZONES due October 2029.Neither the cable guarantors nor NBCUniversal Media, LLC guarantee the Comcast Holdings ZONES due October 2029. None of Comcast Parent, the cable guarantors nor NBCUniversal Media, LLC guarantee the $62 million principal amount currently outstanding of Comcast Holdings' ZONES due November 2029.

Condensed Consolidating Balance Sheet
June 30, 2013
(in millions)			Comcast Parent		Comcast Holdings		CCCL Parent		Combined CCHMO Parents		NBCUniversal Media Parent		Non- Guarantor Subsidiaries		Elimination and Consolidation Adjustments		Consolidated Comcast Corporation
Assets
	Cash and cash equivalents	$	-	$	-	$	-	$	-	$	351	$	1,038	$	-	$	1,389
	Investments		-		-		-		-		-		3,765		-		3,765
	Receivables, net		-		-		-		-		-		5,507		-		5,507
	Programming rights		-		-		-		-		-		859		-		859
	Other current assets		237		-		2		2		58		916		-		1,215
Total current assets			237		-		2		2		409		12,085		-		12,735
Film and television costs			-		-		-		-		-		4,340		-		4,340
Investments			8		-		-		-		381		4,910		-		5,299
Investments in and amounts due from subsidiaries eliminated upon consolidation			77,490		93,560		98,253		52,060		40,426		80,780		(442,569)		-
Property and equipment, net			229		-		-		-		-		28,026		-		28,255
Franchise rights			-		-		-		-		-		59,364		-		59,364
Goodwill			-		-		-		-		-		27,075		-		27,075
Other intangible assets, net			10		-		-		-		-		17,430		-		17,440
Other noncurrent assets, net			1,023		145		-		-		108		1,911		(876)		2,311
Total assets		$	78,997	$	93,705	$	98,255	$	52,062	$	41,324	$	235,921	$	(443,445)	$	156,819
Liabilities and Equity
	Accounts payable and accrued expenses related to  trade creditors	$	11	$	-	$	-	$	-	$	-	$	6,066	$	-	$	6,077
	Accrued participations and residuals		-		-		-		-		-		1,625		-		1,625
	Accrued expenses and other current liabilities		1,421		266		162		54		276		6,186		-		8,365
	Current portion of long-term debt		1,371		-		-		239		904		21		-		2,535
Total current liabilities			2,803		266		162		293		1,180		13,898		-		18,602
Long-term debt, less current portion			25,096		113		1,827		1,509		10,225		5,344		-		44,114
Deferred income taxes			-		769		-		-		76		31,193		(735)		31,303
Other noncurrent liabilities			2,007		-		-		-		990		9,605		(141)		12,461
Redeemable noncontrolling interests and redeemable subsidiary preferred stock			-		-		-		-		-		853		-		853
Equity:
	Common stock		31		-		-		-		-		-		-		31
	Other shareholders’ equity		49,060		92,557		96,266		50,260		28,853		174,633		(442,569)		49,060
Total Comcast Corporation
	shareholders’ equity		49,091		92,557		96,266		50,260		28,853		174,633		(442,569)		49,091
Noncontrolling interests			-		-		-		-		-		395		-		395
Total equity			49,091		92,557		96,266		50,260		28,853		175,028		(442,569)		49,486
Total liabilities and equity		$	78,997	$	93,705	$	98,255	$	52,062	$	41,324	$	235,921	$	(443,445)	$	156,819

Condensed Consolidating Balance Sheet
December 31, 2012
(in millions)			Comcast Parent		Comcast Holdings		CCCL Parent		Combined CCHMO Parents		NBCUniversal Media Parent		Non- Guarantor Subsidiaries		Elimination and Consolidation Adjustments		Consolidated Comcast Corporation
Assets
	Cash and cash equivalents	$	-	$	-	$	-	$	-	$	5,129	$	5,822	$	-	$	10,951
	Investments		-		-		-		-		-		1,464		-		1,464
	Receivables, net		-		-		-		-		3		5,518		-		5,521
	Programming rights		-		-		-		-		-		909		-		909
	Other current assets		233		-		14		4		51		844		-		1,146
Total current assets			233		-		14		4		5,183		14,557		-		19,991
Film and television costs			-		-		-		-		-		5,054		-		5,054
Investments			-		-		-		-		529		5,796		-		6,325
Investments in and amounts due from subsidiaries eliminated upon consolidation			74,227		87,630		96,853		50,242		38,464		73,298		(420,714)		-
Property and equipment, net			242		-		-		-		-		26,990		-		27,232
Franchise rights			-		-		-		-		-		59,364		-		59,364
Goodwill			-		-		-		-		-		26,985		-		26,985
Other intangible assets, net			12		-		-		-		-		17,828		-		17,840
Other noncurrent assets, net			1,130		147		1		-		152		1,650		(900)		2,180
Total assets		$	75,844	$	87,777	$	96,868	$	50,246	$	44,328	$	231,522	$	(421,614)	$	164,971
Liabilities and Equity
	Accounts payable and accrued expenses related to trade creditors	$	8	$	-	$	-	$	-	$	-	$	6,198	$	-	$	6,206
	Accrued participations and residuals		-		-		-		-		-		1,350		-		1,350
	Accrued expenses and other current liabilities		1,290		275		210		54		263		4,690		-		6,782
	Current portion of long-term debt		-		-		2,105		241		7		23		-		2,376
Total current liabilities			1,298		275		2,315		295		270		12,261		-		16,714
Long-term debt, less current portion			23,306		113		1,827		1,512		11,219		105		-		38,082
Deferred income taxes			-		754		-		-		78		30,035		(757)		30,110
Other noncurrent liabilities			1,884		-		-		-		926		10,604		(143)		13,271
Redeemable noncontrolling interests and redeemable subsidiary preferred stock			-		-		-		-		-		16,998		-		16,998
Equity:
	Common stock		31		-		-		-		-		-		-		31
	Other shareholders’ equity		49,325		86,635		92,726		48,439		31,835		161,079		(420,714)		49,325
Total Comcast Corporation shareholders’ equity			49,356		86,635		92,726		48,439		31,835		161,079		(420,714)		49,356
Noncontrolling interests			-		-		-		-		-		440		-		440
Total equity			49,356		86,635		92,726		48,439		31,835		161,519		(420,714)		49,796
Total liabilities and equity		$	75,844	$	87,777	$	96,868	$	50,246	$	44,328	$	231,522	$	(421,614)	$	164,971

Condensed Consolidating Statement of Income
For the Three Months Ended June 30, 2013
(in millions)			Comcast Parent		Comcast Holdings		CCCL Parent		Combined CCHMO Parents		NBCUniversal Media Parent		Non- Guarantor Subsidiaries		Elimination and Consolidation Adjustments		Consolidated Comcast Corporation
Revenue:
	Service revenue	$	-	$	-	$	-	$	-	$	-	$	16,270	$	-	$	16,270
	Management fee revenue		225		-		219		137		-		-		(581)		-
			225		-		219		137		-		16,270		(581)		16,270
Costs and Expenses:
	Programming and production		-		-		-		-		-		4,968		-		4,968
	Other operating and administrative		101		-		219		137		205		4,489		(581)		4,570
	Advertising, marketing and promotion		-		-		-		-		-		1,307		-		1,307
	Depreciation		8		-		-		-		-		1,575		-		1,583
	Amortization		2		-		-		-		-		405		-		407
			111		-		219		137		205		12,744		(581)		12,835
Operating income (loss)			114		-		-		-		(205)		3,526		-		3,435
Other Income (Expense):
	Interest expense		(383)		(2)		(46)		(33)		(123)		(49)		-		(636)
	Investment income (loss), net		1		6		-		-		5		1		-		13
	Equity in net income
	(losses) of investees, net		1,910		1,909		1,835		1,349		951		646		(8,577)		23
	Other income (expense), net		(1)		-		2		-		-		(44)		-		(43)
			1,527		1,913		1,791		1,316		833		554		(8,577)		(643)
Income (loss) before income taxes			1,641		1,913		1,791		1,316		628		4,080		(8,577)		2,792
Income tax (expense) benefit			93		(1)		16		12		(5)		(1,163)		-		(1,048)
Net income (loss)			1,734		1,912		1,807		1,328		623		2,917		(8,577)		1,744
Net (income) loss attributable
	to noncontrolling interests and redeemable subsidiary preferred stock		-		-		-		-		-		(10)		-		(10)
Net income (loss) attributable
	to Comcast Corporation	$	1,734	$	1,912	$	1,807	$	1,328	$	623	$	2,907	$	(8,577)	$	1,734
Comprehensive income (loss)
	attributable to Comcast Corporation	$	1,822	$	1,905	$	1,808	$	1,328	$	599	$	3,007	$	(8,647)	$	1,822

Condensed Consolidating Statement of Income
For the Three Months Ended June 30, 2012
(in millions)			Comcast Parent		Comcast Holdings		CCCL Parent		Combined CCHMO Parents		NBCUniversal Media Parent		Non- Guarantor Subsidiaries		Elimination and Consolidation Adjustments		Consolidated Comcast Corporation
Revenue:
	Service revenue	$	-	$	-	$	-	$	-	$	-	$	15,211	$	-	$	15,211
	Management fee revenue		210		-		205		127		-		-		(542)		-
			210		-		205		127		-		15,211		(542)		15,211
Costs and Expenses:
	Programming and production		-		-		-		-		-		4,551		-		4,551
	Other operating and administrative		99		-		205		127		222		4,254		(542)		4,365
	Advertising, marketing and promotion		-		-		-		-		-		1,291		-		1,291
	Depreciation		8		-		-		-		-		1,508		-		1,516
	Amortization		1		-		-		-		-		408		-		409
			108		-		205		127		222		12,012		(542)		12,132
Operating income (loss)			102		-		-		-		(222)		3,199		-		3,079
Other Income (Expense):
	Interest expense		(354)		(8)		(83)		(33)		(105)		(42)		-		(625)
	Investment income (loss), net		2		1		-		-		-		5		-		8
	Equity in net income (losses) of
	investees, net		1,511		1,620		1,679		1,326		841		542		(7,490)		29
	Other income (expense), net		-		-		-		-		(12)		(35)		-		(47)
			1,159		1,613		1,596		1,293		724		470		(7,490)		(635)
Income (loss) before income taxes			1,261		1,613		1,596		1,293		502		3,669		(7,490)		2,444
Income tax (expense) benefit			87		2		29		11		11		(951)		-		(811)
Net income (loss)			1,348		1,615		1,625		1,304		513		2,718		(7,490)		1,633
Net (income) loss attributable
	to noncontrolling interests and redeemable subsidiary preferred stock		-		-		-		-		-		(285)		-		(285)
Net (income) loss
	attributable to Comcast Corporation	$	1,348	$	1,615	$	1,625	$	1,304	$	513	$	2,433	$	(7,490)	$	1,348
Comprehensive
	income (loss) attributable to Comcast Corporation	$	1,326	$	1,615	$	1,627	$	1,304	$	495	$	2,447	$	(7,488)	$	1,326

Condensed Consolidating Statement of Income
For the Six Months Ended June 30, 2013
(in millions)			Comcast Parent		Comcast Holdings		CCCL Parent		Combined CCHMO Parents		NBCUniversal Media Parent		Non- Guarantor Subsidiaries		Elimination and Consolidation Adjustments		Consolidated Comcast Corporation
Revenue:
	Service revenue	$	-	$	-	$	-	$	-	$	-	$	31,580	$	-	$	31,580
	Management fee revenue		443		-		431		270		-		-		(1,144)		-
			443		-		431		270		-		31,580		(1,144)		31,580
Costs and Expenses:
	Programming and production		-		-		-		-		-		9,631		-		9,631
	Other operating and administrative		199		-		431		270		430		8,850		(1,144)		9,036
	Advertising, marketing and promotion		-		-		-		-		-		2,454		-		2,454
	Depreciation		15		-		-		-		-		3,134		-		3,149
	Amortization		3		-		-		-		-		805		-		808
			217		-		431		270		430		24,874		(1,144)		25,078
Operating income (loss)			226		-		-		-		(430)		6,706		-		6,502
Other Income (Expense):
	Interest expense		(759)		(5)		(124)		(66)		(243)		(92)		-		(1,289)
	Investment income (loss), net		2		3		-		-		1		79		-		85
	Equity in net income
	(losses) of investees, net		3,518		3,651		3,598		2,611		1,660		1,012		(16,016)		34
	Other income (expense), net		(2)		-		2		-		-		30		-		30
			2,759		3,649		3,476		2,545		1,418		1,029		(16,016)		(1,140)
Income (loss) before income taxes			2,985		3,649		3,476		2,545		988		7,735		(16,016)		5,362
Income tax (expense) benefit			186		1		43		23		(10)		(2,216)		-		(1,973)
Net income (loss)			3,171		3,650		3,519		2,568		978		5,519		(16,016)		3,389
Net (income) loss attributable
	to noncontrolling interests and redeemable subsidiary preferred stock		-		-		-		-		-		(218)		-		(218)
Net income (loss) attributable
	to Comcast Corporation	$	3,171	$	3,650	$	3,519	$	2,568	$	978	$	5,301	$	(16,016)	$	3,171
Comprehensive income (loss)
	attributable to Comcast Corporation	$	3,259	$	3,643	$	3,522	$	2,568	$	932	$	5,414	$	(16,079)	$	3,259

Condensed Consolidating Statement of Income
For the Six Months Ended June 30, 2012
(in millions)			Comcast Parent		Comcast Holdings		CCCL Parent		Combined CCHMO Parents		NBCUniversal Media Parent		Non- Guarantor Subsidiaries		Elimination and Consolidation Adjustments		Consolidated Comcast Corporation
Revenue:
	Service revenue	$	-	$	-	$	-	$	-	$	-	$	30,089	$	-	$	30,089
	Management fee revenue		414		-		405		252		-		-		(1,071)		-
			414		-		405		252		-		30,089		(1,071)		30,089
Costs and Expenses:
	Programming and production		-		-		-		-		-		9,287		-		9,287
	Other operating and administrative		191		-		405		252		475		8,358		(1,071)		8,610
	Advertising, marketing and promotion		-		-		-		-		-		2,500		-		2,500
	Depreciation		15		-		-		-		-		3,030		-		3,045
	Amortization		2		-		-		-		-		808		-		810
			208		-		405		252		475		23,983		(1,071)		24,252
Operating income (loss)			206		-		-		-		(475)		6,106		-		5,837
Other Income (Expense):
	Interest expense		(721)		(16)		(165)		(69)		(207)		(87)		-		(1,265)
	Investment income (loss), net		3		1		-		-		-		96		-		100
	Equity in net income
	(losses) of investees, net		2,905		3,124		3,222		2,375		1,584		930		(14,108)		32
	Other income (expense), net		-		-		-		-		(13)		(50)		-		(63)
			2,187		3,109		3,057		2,306		1,364		889		(14,108)		(1,196)
Income (loss) before income taxes			2,393		3,109		3,057		2,306		889		6,995		(14,108)		4,641
Income tax (expense) benefit			179		5		58		24		9		(1,836)		-		(1,561)
Net income (loss)			2,572		3,114		3,115		2,330		898		5,159		(14,108)		3,080
Net (income) loss attributable
	to noncontrolling interests and redeemable subsidiary preferred stock		-		-		-		-		-		(508)		-		(508)
Net income (loss) attributable
	to Comcast Corporation	$	2,572	$	3,114	$	3,115	$	2,330	$	898	$	4,651	$	(14,108)	$	2,572
Comprehensive income (loss)
	attributable to Comcast Corporation	$	2,554	$	3,114	$	3,119	$	2,330	$	881	$	4,663	$	(14,107)	$	2,554

Condensed Consolidating Statement of Cash Flows
For the Six Months Ended June 30, 2013
(in millions)		Comcast Parent		Comcast Holdings		CCCL Parent		Combined CCHMO Parents		NBCUniversal Media Parent		Non-Guarantor Subsidiaries		Elimination and Consolidation Adjustments		Consolidated Comcast Corporation
Net cash provided by (used in) operating activities	$	(181)	$	(8)	$	(120)	$	(47)	$	(582)	$	8,623	$	-	$	7,685
Investing Activities:
Net transactions with affiliates		(1,301)		8		2,217		47		(984)		13		-		-
Capital expenditures		(2)		-		-		-		-		(2,865)		-		(2,867)
Cash paid for intangible assets		(1)		-		-		-		-		(443)		-		(444)
Acquisition of 30 Rockefeller Plaza properties		-		-		-		-		-		(1,311)		-		(1,311)
Proceeds from sales of businesses and investments		-		-		-		-		-		91		-		91
Return of capital from investees		-		-		-		-		128		18		-		146
Purchases of investments		(8)		-		-		-		(2)		(631)		-		(641)
Other		-		-		-		-		(10)		76		-		66
Net cash provided by (used in) investing activities		(1,312)		8		2,217		47		(868)		(5,052)		-		(4,960)
Financing Activities:
Proceeds from (repayments of) short-term borrowings, net		350		-		-		-		-		(2)		-		348
Proceeds from borrowings		2,933		-		-		-		-		-		-		2,933
Repurchases and repayments of debt		-		-		(2,097)		-		(88)		(10)		-		(2,195)
Repurchases and retirements of common stock		(1,000)		-		-		-		-		-		-		(1,000)
Dividends paid		(942)		-		-		-		-		-		-		(942)
Issuances of common stock		24		-		-		-		-		-		-		24
Purchase of NBCUniversal noncontrolling common equity interest		-		-		-		-		(3,200)		(7,561)		-		(10,761)
Distributions (to) from noncontrolling interests and dividends for redeemable subsidiary preferred stock		-		-		-		-		-		(116)		-		(116)
Settlement of Station Venture liability										-		(602)				(602)
Other		128		-		-		-		(40)		(64)		-		24
Net cash provided by (used in) financing activities		1,493		-		(2,097)		-		(3,328)		(8,355)		-		(12,287)
Increase (decrease) in cash and cash equivalents		-		-		-		-		(4,778)		(4,784)		-		(9,562)
Cash and cash equivalents, beginning of period		-		-		-		-		5,129		5,822		-		10,951
Cash and cash equivalents, end of period	$	-	$	-	$	-	$	-	$	351	$	1,038	$	-	$	1,389

Condensed Consolidating Statement of Cash Flows
For the Six Months Ended June 30, 2012
(in millions)		Comcast Parent		Comcast Holdings		CCCL Parent		Combined CCHMO Parents		NBCUniversal Media Parent		Non-Guarantor Subsidiaries		Elimination and Consolidation Adjustments		Consolidated Comcast Corporation
Net cash provided by (used in) operating activities	$	(194)	$	6	$	(100)	$	(71)	$	(739)	$	8,913	$	-	$	7,815
Investing Activities:
Net transactions with affiliates		3,317		(6)		100		624		1,708		(5,743)		-		-
Capital expenditures		(4)		-		-		-		-		(2,457)		-		(2,461)
Cash paid for intangible assets		(4)		-		-		-		-		(410)		-		(414)
Proceeds from sales of businesses and investments		-		-		-		-		-		64		-		64
Return of capital from investees		-		-		-		-		-		7		-		7
Purchases of investments		-		-		-		-		(3)		(105)		-		(108)
Other		-		-		-		-		(12)		95		-		83
Net cash provided by (used in) investing activities		3,309		(6)		100		624		1,693		(8,549)		-		(2,829)
Financing Activities:
Proceeds from (repayments of) short-term borrowings, net		(1)		-		-		-		(550)		(3)		-		(554)
Repurchases and repayments of debt		(1,125)		-		-		(553)		-		(14)		-		(1,692)
Repurchases and retirements of common stock		(1,500)		-		-		-		-		-		-		(1,500)
Dividends paid		(741)		-		-		-		-		-		-		(741)
Issuances of common stock		184		-		-		-		-		-		-		184
Distributions (to) from noncontrolling interests and dividends for redeemable subsidiary preferred stock		-		-		-		-		-		(233)		-		(233)
Other		68		-		-		-		-		(37)		-		31
Net cash provided by (used in) financing activities		(3,115)		-		-		(553)		(550)		(287)		-		(4,505)
Increase (decrease) in cash and cash equivalents		-		-		-		-		404		77		-		481
Cash and cash equivalents, beginning of period		-		-		-		-		238		1,382		-		1,620
Cash and cash equivalents, end of period	$	-	$	-	$	-	$	-	$	642	$	1,459	$	-	$	2,101