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Notes to Consolidated Financial Statements Comcast 2006 Annual Report 68
Note 16: Condensed Consolidating Financial Information
Comcast Corporation and five of our cable holding company sub-
sidiaries, Comcast Cable Communications, LLC (“CCCL”), Comcast
Cable Communications Holdings, Inc. (“CCCH”), Comcast MO
Group, Inc. (“Comcast MO Group”), Comcast Cable Holdings, LLC
(“CCH”), and Comcast MO of Delaware, LLC (“Comcast MO of
Delaware”) 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.”
In September 2005, Comcast Corporation unconditionally guaran-
teed Comcast Holdings’ ZONES due October 2029 and its 10
5⁄8%
Senior Subordinated Debentures due 2012, both of which were
issued by Comcast Holdings; accordingly, we have added Com-
cast Holdings’ condensed consolidated financial information for all
periods presented. Our condensed consolidating financial informa-
tion is as follows:
Condensed Consolidating Balance Sheet
As of December 31, 2006
Elimination
Combined Non- and Consolidated
Comcast CCCL CCCH CCHMO Comcast Guarantor Consolidation Comcast
(in millions) Parent Parent Parent Parents Holdings Subsidiaries Adjustments Corporation
Assets
Cash and cash equivalents $ 77 $ — $ — $ — $ — $ 1,162 $ — $ 1,239
Investments — — — — — 1,735 — 1,735
Accounts receivable, net — — — — — 1,450 — 1,450
Other current assets 15 1 — — — 762 — 778
Total current assets 92 1 — — — 5,109 — 5,202
Investments — — — — — 8,847 — 8,847
Investments in and amounts due from
subsidiaries eliminated upon consolidation 62,622 31,152 37,757 41,151 23,984 1,895 (198,561) —
Property and equipment, net 17 — 1 — — 21,230 — 21,248
Franchise rights — — — — — 55,927 — 55,927
Goodwill — — — — — 13,768 — 13,768
Other intangible assets, net — — — — — 4,881 — 4,881
Other noncurrent assets, net 176 16 20 — 31 289 — 532
Total assets $ 62,907 $ 31,169 $ 37,778 $ 41,151 $ 24,015 $ 111,946 $ (198,561) $ 110,405
Liabilities and Stockholders’ Equity
Accounts payable and accrued expenses
related to trade creditors $ 11 $ — $ — $ — $ — $ 2,851 $ — $ 2,862
Accrued expenses and other current
liabilities 616 247 83 106 69 1,911 — 3,032
Deferred income taxes — — — — — 563 — 563
Current portion of long-term debt — 600 — 242 — 141 — 983
Total current liabilities 627 847 83 348 69 5,466 — 7,440
Long-term debt, less current portion 15,358 4,397 3,498 3,046 683 1,010 — 27,992
Deferred income taxes 4,638 — — — 887 21,564 — 27,089
Other noncurrent liabilities 1,117 46 — — 76 5,237 — 6,476
Minority interest — — — — — 241 — 241
Stockholders’ Equity
Common stock 35 — — — — — — 35
Other stockholders’ equity 41,132 25,879 34,197 37,757 22,300 78,428 (198,561) 41,132
Total stockholders’ equity 41,167 25,879 34,197 37,757 22,300 78,428 (198,561) 41,167
Total liabilities and
stockholders’ equity $ 62,907 $ 31,169 $ 37,778 $ 41,151 $ 24,015 $ 111,946 $ (198,561) $ 110,405