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Financial Data by Business Segment
 6 Months Ended
Jun. 30, 2017
Segment Reporting Information [Line Items]  
Financial Data by Business Segment
Financial Data by Business Segment
We present our operations in five reportable business segments:
•
Cable Communications: Consists of the operations of Comcast Cable, which is one of the nation’s largest providers of video, high-speed Internet, voice, and security and automation services to residential customers under the XFINITY brand; we also provide these and other services to business customers and sell advertising.
•
Cable Networks: Consists primarily of our national cable networks, our regional sports and news networks, our international cable networks, and our cable television studio production operations.
•
Broadcast Television: Consists primarily of the NBC and Telemundo broadcast networks, our NBC and Telemundo owned local broadcast television stations, the NBC Universo national cable network, and our broadcast television studio production operations.
•
Filmed Entertainment: 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, Focus Features and DreamWorks Animation names.
•
Theme Parks: Consists primarily of our Universal theme parks in Orlando, Florida; Hollywood, California; and Osaka, Japan.
We use Adjusted EBITDA (formerly operating income before depreciation and amortization) to evaluate the profitability of our operating segments and the components of net income attributable to Comcast Corporation below Adjusted EBITDA are not separately evaluated. Our financial data by business segment is presented in the tables below.
 
Three Months Ended June 30, 2017
(in millions)
Revenue(e)
Adjusted EBITDA(f)
Depreciation
and Amortization
Operating
Income (Loss)
Capital
Expenditures
Cash Paid for Intangible Assets
Cable Communications(a)
$
13,122

$
5,320

$
2,001

$
3,319

$
1,956

$
327

NBCUniversal
 
 
 
 
 
 
Cable Networks
2,696

1,055

181

874

8

4

Broadcast Television
2,241

416

31

385

30

4

Filmed Entertainment
2,155

285

26

259

19

6

Theme Parks
1,314

551

186

365

243

26

Headquarters and Other(b)
9

(235
)
96

(331
)
38

33

Eliminations(c)
(84
)
(1
)
—

(1
)
—

—

NBCUniversal
8,331

2,071

520

1,551

338

73

Corporate and Other(d)
205

(302
)
20

(322
)
33

20

Eliminations(c)
(493
)
10

—

10

—

—

Comcast Consolidated
$
21,165

$
7,099

$
2,541

$
4,558

$
2,327

$
420

 
Three Months Ended June 30, 2016
(in millions)
Revenue(e)
Adjusted EBITDA(f)
Depreciation
and Amortization
Operating
Income (Loss)
Capital
Expenditures
Cash Paid for Intangible Assets
Cable Communications(a)
$
12,444

$
5,048

$
1,904

$
3,144

$
1,881

$
289

NBCUniversal
 
 
 
 
 
 
Cable Networks
2,566

944

187

757

7

3

Broadcast Television
2,128

394

30

364

30

3

Filmed Entertainment
1,351

56

12

44

5

3

Theme Parks
1,136

469

145

324

240

20

Headquarters and Other(b)
6

(175
)
91

(266
)
78

33

Eliminations(c)
(84
)
1

—

1

—

—

NBCUniversal
7,103

1,689

465

1,224

360

62

Corporate and Other(d)
180

(291
)
20

(311
)
30

8

Eliminations(c)
(458
)
9

—

9

—

—

Comcast Consolidated
$
19,269

$
6,455

$
2,389

$
4,066

$
2,271

$
359

 
Six Months Ended June 30, 2017
(in millions)
Revenue(e)
Adjusted EBITDA(f)
Depreciation
and Amortization
Operating
Income (Loss)
Capital
Expenditures
Cash Paid for Intangible Assets
Cable Communications(a)
$
26,034

$
10,518

$
3,981

$
6,537

$
3,737

$
679

NBCUniversal
 
 
 
 
 

Cable Networks
5,337

2,171

395

1,776

10

7

Broadcast Television
4,449

738

63

675

59

7

Filmed Entertainment
4,136

653

47

606

29

11

Theme Parks
2,432

948

328

620

472

39

Headquarters and Other(b)
17

(420
)
195

(615
)
53

64

Eliminations(c)
(172
)
(2
)
—

(2
)
—

—

NBCUniversal
16,199

4,088

1,028

3,060

623

128

Corporate and Other(d)
413

(496
)
34

(530
)
45

29

Eliminations(c)
(1,018
)
21

—

21

—

—

Comcast Consolidated
$
41,628

$
14,131

$
5,043

$
9,088

$
4,405

$
836

 
Six Months Ended June 30, 2016
(in millions)
Revenue(e)
Adjusted EBITDA(f)
Depreciation
and Amortization
Operating
Income (Loss)
Capital
Expenditures
Cash Paid for Intangible Assets
Cable Communications(a)
$
24,648

$
9,937

$
3,747

$
6,190

$
3,457

$
613

NBCUniversal
 
 
 
 
 

Cable Networks
5,019

1,900

377

1,523

8

4

Broadcast Television
4,212

678

62

616

49

6

Filmed Entertainment
2,734

223

20

203

8

6

Theme Parks
2,162

844

243

601

440

29

Headquarters and Other(b)
9

(335
)
177

(512
)
150

69

Eliminations(c)
(172
)
1

—

1

—

—

NBCUniversal
13,964

3,311

879

2,432

655

114

Corporate and Other(d)
379

(445
)
41

(486
)
44

10

Eliminations(c)
(932
)
19

—

19

—

—

Comcast Consolidated
$
38,059

$
12,822

$
4,667

$
8,155

$
4,156

$
737


(a)
For the three and six months ended June 30, 2017 and 2016, Cable Communications segment revenue was derived from the following sources:
 
Three Months Ended
June 30
 
Six Months Ended
June 30
  
2017
 
2016
 
2017
 
2016
Residential:
 
 
 
 
 
 
 
Video
44.2
%
 
44.9
%
 
44.4
%
 
45.1
%
High-speed Internet
28.0
%
 
27.1
%
 
28.0
%
 
27.0
%
Voice
6.5
%
 
7.2
%
 
6.6
%
 
7.3
%
Business services
11.7
%
 
10.9
%
 
11.6
%
 
10.8
%
Advertising
4.4
%
 
4.7
%
 
4.2
%
 
4.6
%
Other
5.2
%
 
5.2
%
 
5.2
%
 
5.2
%
Total
100.0
%
 
100.0
%
 
100.0
%
 
100.0
%

Subscription revenue received from residential customers who purchase bundled services at a discounted rate is allocated proportionally to each cable service based on the individual service’s price on a stand-alone basis.
For the three and six months ended June 30, 2017 and 2016, 2.8% of Cable Communications segment revenue was derived from franchise and other regulatory fees.
(b)
NBCUniversal Headquarters and Other activities include costs associated with overhead, allocations, personnel costs and headquarter initiatives.
(c)
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 from the licensing of film and television content to our Cable Networks segment
(d)
Corporate and Other activities include costs associated with overhead and personnel, the costs of other business initiatives, including our new wireless phone service, and the operations of Comcast Spectacor, which owns the Philadelphia Flyers and the Wells Fargo Center arena in Philadelphia, Pennsylvania and operates arena management-related businesses.
(e)
No single customer accounted for a significant amount of revenue in any period.
(f)
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, other income (expense) items, net, and depreciation and amortization, and excluding impairment charges related to fixed and intangible assets and gains or losses on the sale of long-lived assets, if any. Other income (expense) items, net include interest expense, investment income (loss), equity in net income (losses) of investees, and other income (expense), net (as stated in our condensed consolidated statement of income). 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 and tax structures and by our 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), 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. 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)
2017
 
2016
 
2017
 
2016
Adjusted EBITDA
$
7,099

 
$
6,455

 
$
14,131

 
$
12,822

Depreciation
(1,970
)
 
(1,868
)
 
(3,885
)
 
(3,653
)
Amortization
(571
)
 
(521
)
 
(1,158
)
 
(1,014
)
Other income (expense) items, net
(659
)
 
(708
)
 
(1,284
)
 
(1,262
)
Income before income taxes
$
3,899

 
$
3,358

 
$
7,804

 
$
6,893
NBCUniversal Media LLC [Member]  
Segment Reporting Information [Line Items]  
Financial Data by Business Segment
Financial Data by Business Segment
We present our operations in four reportable business segments:
•
Cable Networks: Consists primarily of our national cable networks, our regional sports and news networks, our international cable networks, and our cable television studio production operations.
•
Broadcast Television: Consists primarily of the NBC and Telemundo broadcast networks, our NBC and Telemundo owned local broadcast television stations, the NBC Universo national cable network, and our broadcast television studio production operations.
•
Filmed Entertainment: 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, Focus Features and DreamWorks Animation names.
•
Theme Parks: Consists primarily of our Universal theme parks in Orlando, Florida; Hollywood, California; and Osaka, Japan.
We use Adjusted EBITDA (formerly operating income before depreciation and amortization) to evaluate the profitability of our operating segments and the components of net income attributable to NBCUniversal below Adjusted EBITDA are not separately evaluated. Our financial data by business segment is presented in the tables below.
 
Three Months Ended June 30, 2017
(in millions)
Revenue(c)
Adjusted EBITDA(d)
Depreciation 
and Amortization
Operating 
Income (Loss)
Capital
Expenditures
Cash Paid for Intangible Assets
Cable Networks
$
2,696

$
1,055

$
181

$
874

$
8

$
4

Broadcast Television
2,241

416

31

385

30

4

Filmed Entertainment
2,155

285

26

259

19

6

Theme Parks
1,314

551

186

365

243

26

Headquarters and Other(a)
9

(235
)
96

(331
)
38

33

Eliminations(b)
(84
)
(1
)
—

(1
)
—

—

Total
$
8,331

$
2,071

$
520

$
1,551

$
338

$
73

 
Three Months Ended June 30, 2016
(in millions)
Revenue(c)
Adjusted EBITDA(d)
Depreciation 
and Amortization
Operating 
Income (Loss)
Capital
Expenditures
Cash Paid for Intangible Assets
Cable Networks
$
2,566

$
944

$
187

$
757

$
7

$
3

Broadcast Television
2,128

394

30

364

30

3

Filmed Entertainment
1,351

56

12

44

5

3

Theme Parks
1,136

469

145

324

240

20

Headquarters and Other(a)
6

(175
)
91

(266
)
78

33

Eliminations(b)
(84
)
1

—

1

—

—

Total
$
7,103

$
1,689

$
465

$
1,224

$
360

$
62

 
Six Months Ended June 30, 2017
(in millions)
Revenue(c)
Adjusted EBITDA(d)
Depreciation 
and Amortization
Operating 
Income (Loss)
Capital
Expenditures
Cash Paid for Intangible Assets
Cable Networks
$
5,337

$
2,171

$
395

$
1,776

$
10

$
7

Broadcast Television
4,449

738

63

675

59

7

Filmed Entertainment
4,136

653

47

606

29

11

Theme Parks
2,432

948

328

620

472

39

Headquarters and Other(a)
17

(420
)
195

(615
)
53

64

Eliminations(b)
(172
)
(2
)
—

(2
)
—

—

Total
$
16,199

$
4,088

$
1,028

$
3,060

$
623

$
128

 
 
Six Months Ended June 30, 2016
(in millions)
Revenue(c)
Adjusted EBITDA(d)
Depreciation 
and Amortization
Operating 
Income (Loss)
Capital
Expenditures
Cash Paid for Intangible Assets
Cable Networks
$
5,019

$
1,900

$
377

$
1,523

$
8

$
4

Broadcast Television
4,212

678

62

616

49

6

Filmed Entertainment
2,734

223

20

203

8

6

Theme Parks
2,162

844

243

601

440

29

Headquarters and Other(a)
9

(335
)
177

(512
)
150

69

Eliminations(b)
(172
)
1

—

1

—

—

Total
$
13,964

$
3,311

$
879

$
2,432

$
655

$
114

(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 consist primarily of the licensing of film and television content from our Filmed Entertainment and Broadcast Television segments to our Cable Networks segment.
(c)
No single customer accounted for a significant amount of revenue in any period.
(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 NBCUniversal before net (income) loss attributable to noncontrolling interests, income tax expense, other income (expense) items, net, and depreciation and amortization, and excluding impairment charges related to fixed and intangible assets and gains or losses on the sale of long-lived assets, if any. Other income (expense) items, net include interest expense, investment income (loss), equity in net income (losses) of investees, and other income (expense), net (as stated in our condensed consolidated statement of income). This measure eliminates the significant level of noncash amortization expense that results from intangible assets recognized in business combinations. Additionally, it is unaffected by our capital and tax structures and by our 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), 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. 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)
2017
 
2016
 
2017
 
2016
Adjusted EBITDA
$
2,071

 
$
1,689

 
$
4,088

 
$
3,311

Depreciation
(265
)
 
(223
)
 
(496
)
 
(415
)
Amortization
(255
)
 
(242
)
 
(532
)
 
(464
)
Other income (expense) items, net
(164
)
 
(175
)
 
(308
)
 
(203
)
Income before income taxes
$
1,387

 
$
1,049

 
$
2,752

 
$
2,229