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FORM 10-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
(Mark One)
ÈANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
FOR THE FISCAL YEAR ENDED DECEMBER 31, 2007
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
FOR THE TRANSITION PERIOD FROM TO
Commission file number 001-32871
COMCAST CORPORATION
(Exact name of registrant as specified in its charter)
PENNSYLVANIA
(State or other jurisdiction of incorporation or organization)
27-0000798
(I.R.S. Employer Identification No.)
One Comcast Center, Philadelphia, PA
(Address of principal executive offices)
19103-2838
(Zip Code)
Registrant’s telephone number, including area code: (215) 286-1700
SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:
Title of Each Class Name of Each Exchange on which Registered
Class A Common Stock, $0.01 par value
Class A Special Common Stock, $0.01 par value
2.0% Exchangeable Subordinated Debentures due 2029
6.625% Notes due 2056
7.00% Notes due 2055
7.00% Notes due 2055, Series B
8.375% Guaranteed Notes due 2013
9.455% Guaranteed Notes due 2022
Nasdaq Global Select Market
Nasdaq Global Select Market
New York Stock Exchange
New York Stock Exchange
New York Stock Exchange
New York Stock Exchange
New York Stock Exchange
New York Stock Exchange
SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT:
NONE
Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ÈNo
Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes No È
Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports) and (2) has
been subject to such filing requirements for the past 90 days. Yes ÈNo
Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be
contained, to the best of Registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this
Form 10-K or any amendments to this Form 10-K. È
Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of
“accelerated filer and large accelerated filer” in Rule 12b-2 of the Exchange Act. (Check one):
Large accelerated filer ÈAccelerated filer Non-accelerated filer
Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes No È
As of June 30, 2007, the aggregate market value of the Class A common stock and Class A Special common stock held by non-affiliates
of the Registrant was $58.283 billion and $27.777 billion, respectively.
As of December 31, 2007, there were 2,053,564,909 shares of Class A common stock, 948,025,699 shares of Class A Special common
stock and 9,444,375 shares of Class B common stock outstanding.
DOCUMENTS INCORPORATED BY REFERENCE
Part III—The Registrant’s definitive Proxy Statement for its annual meeting of shareholders presently scheduled to be held in May 2008.

Table of contents

  • Page 1
    ... its charter) PENNSYLVANIA 27-0000798 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) One Comcast Center, Philadelphia, PA 19103-2838 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (215) 286...

  • Page 2
    ... and Management Certain Relationships and Related Transactions Principal Accountant Fees and Services 78 79 79 79 79 PART IV Item 15 Exhibits and Financial Statement Schedules Signatures 80 84 This Annual Report on Form 10-K is for the year ended December 31, 2007. This Annual Report on Form 10...

  • Page 3
    ... Texas and Kansas City Cable Partners (the "Houston transaction"), in January 2007 and (ii) the cable system of Patriot Media serving approximately 81,000 video subscribers in central New Jersey, in August 2007 1 Comcast 2007 Annual Report on Form 10-K Available Information and Web Sites Our phone...

  • Page 4
    ... site and movie-ticket service, in April 2007 and (ii) Rainbow Media Holdings' 60% interest in Bay Area SportsNet and its 50% interest in Sports Channel New England, expanding our regional sports networks, in June 2007 • repurchase of approximately 133 million shares of our Class A common stock...

  • Page 5
    ...View Programming. Our pay-per-view service allows our cable subscribers to order, for a separate fee, individual movies and special-event programs, such as professional boxing, professional wrestling and concerts, on an unedited, commercialfree basis. High-Speed Internet Services We offer high-speed...

  • Page 6
    ...In support of our bundled services strategy, we are developing features that operate across two or more of our services. For example, we are developing an online application that integrates key features of our video, high-speed Internet and digital phone services. Comcast 2007 Annual Report on Form...

  • Page 7
    .... Sales and Marketing We offer our products and services directly to customers through our call centers, door-to-door selling, direct mail advertising, television advertising, local media advertising, telemarketing and retail outlets. We also market our video, high-speed Internet and digital phone...

  • Page 8
    ...residential and commercial developments. Broadcast Subscription Services. Local television broadcasters in a few of our service areas sell digital subscription services. These services typically include a limited number of video programming services for a monthly fee. High-Speed Internet Services We...

  • Page 9
    ... for high-speed Internet service subscribers to remain intense, with companies competing on service availability, price, product features, customer service, transmission speeds and bundled services. Phone Services Our digital phone service and our circuit-switched local phone service compete...

  • Page 10
    ... of broadcast television stations, the way we sell our programming packages to subscribers, access to cable system channels by franchising authorities and other parties, the use of utility poles and conduits, and the offering of our high-speed Internet and phone services. Our Programming segment is...

  • Page 11
    ... offers, promotions or other discounts that aim to retain existing subscribers or regain those we have lost. Must-Carry/Retransmission Consent Cable operators are currently required to carry, without compensation, the programming transmitted by most local commercial and noncommercial television...

  • Page 12
    ... are favorable. There has been considerable activity at both the federal and state levels addressing franchise requirements imposed on new entrants. This activity is primarily directed at facilitating ILEC entry into cable service. In December 2006, the FCC adopted new rules designed to ease the...

  • Page 13
    ... that our high-speed Internet network management practices violate the FCC's "net neutrality" principles and requested that the 11 Phone Services We currently offer phone services using interconnected VoIP technology and circuit-switched technology. The FCC has adopted a number of orders addressing...

  • Page 14
    ...and new entrants. It is unclear how Comcast 2007 Annual Report on Form 10-K 12 these proceedings will affect our phone services. We plan to phase out our circuit-switched phone service in 2008, in accordance with applicable federal and state regulatory rules. Other Areas The FCC actively regulates...

  • Page 15
    ...including DBS companies, phone companies, companies that build competing cable systems in the same communities we serve, and companies that offer programming and other communications services to our subscribers and potential subscribers, including high-speed Internet and VoIP service providers. This...

  • Page 16
    ... was the number of shares of Class B common stock outstanding on the date of our 2002 acquisition of AT&T Corp.'s cable business, subject to adjustment in specified situations. Stock dividends payable on the Class B common stock in the form of Class B or Class A Special common stock do not decrease...

  • Page 17
    ... equipment that is used to provide services (such as e-mail, news and web services) to our high-speed Internet subscribers and digital phone service subscribers. In addition, we maintain a network operations center with equipment necessary to monitor and manage the status of our high-speed Internet...

  • Page 18
    ... one of our current officers have been named as defendants in a purported class action lawsuit filed in the Eastern District in February 2008. The alleged class comprises participants in our retirement-investment (401(k)) plan that invested in the plan's company stock account. The plaintiff asserts...

  • Page 19
    ... fully utilize our remaining share repurchase authorization by the end of 2009, subject to market conditions. The total number of shares purchased during 2007 includes 1,248,341 shares received in the administration of employee share-based compensation plans. 17 Comcast 2007 Annual Report on Form...

  • Page 20
    ... high and low sales prices of our Class A and Class A Special common stock. Class A High Low Class A Special High Low Stock Performance Graph The following graph compares the yearly percentage change in the cumulative total shareholder return on our Class A common stock and Class A Special common...

  • Page 21
    ... or before December 31, 2006 (see Item 8, Note 5 to our consolidated financial statements). (b) In September 2003, we sold our interest in QVC to Liberty Media Corporation. QVC is presented as a discontinued operation for the year ended December 31, 2003. 19 Comcast 2007 Annual Report on Form 10-K

  • Page 22
    ...premium and pay-per-view channels; video on demand (which allows access to a library of movies, sports and news and the ability to start a selection at any time and to pause, rewind and fast-forward selections); music channels; and an interactive, on-screen program guide (which allows the subscriber...

  • Page 23
    ...video subscribers in central New Jersey, in August 2007 • other acquisitions of (i) Fandango, an online entertainment site and movie-ticket service, in April 2007 and (ii) Rainbow Media Holdings LLC's 60% interest in Bay Area SportsNet and its 50% interest in Sports Channel New England, expanding...

  • Page 24
    ...Segment Operating Results." The remaining changes relate to our other business activities, including expanding our Comcast Interactive Media business, the settlement of litigation in 2007 and player contract termination costs at Comcast Spectacor in 2007. Comcast 2007 Annual Report on Form 10-K 22

  • Page 25
    ... high-speed Internet and phone services to our subscribers. The majority of our Cable segment revenue is earned from subscriptions to these cable services. Subscribers typically pay us monthly, based on their chosen level of service, number of services and features and the type of equipment they use...

  • Page 26
    ... 24.2 2.0 6.2 High-Speed Internet. We offer high-speed Internet service with Internet access at downstream speeds of up to 16 Mbps depending on the level of service selected. This service also includes our interactive portal, Comcast.net, which provides multiple e-mail addresses and online storage...

  • Page 27
    ..., Comcast SportsNet Chicago, Comcast SportsNet West (Sacramento), Comcast SportsNet NorthWest, Comcast SportsNet New England (Boston), Bay Area SportsNet (San Francisco) and Comcast MountainWest Sports Network. These networks earn revenue through the sale of advertising time and receive programming...

  • Page 28
    ... are the fees we pay to programming networks to license the programming we package, offer and distribute to our cable subscribers. These expenses are affected by changes in the rates charged by programming networks, the number of subscribers and the programming options we offer to subscribers. Cable...

  • Page 29
    ... 2007, 2006 and 2005 are presented in a table in Note 6 to our consolidated financial statements. In connection with the Adelphia and Time Warner transactions, we recognized investment income of approximately $646 million for the year ended December 31, 2006. 27 Comcast 2007 Annual Report on Form...

  • Page 30
    ... capital expenditures, invest in business opportunities and return capital to investors, through stock repurchases and dividends. The credit markets have been and continue to be volatile due primarily to difficulties in the residential mortgage markets as well as the slowing economy. We do not hold...

  • Page 31
    ... of federal and state tax audits. Financing Activities Net cash provided by (used in) financing activities consists primarily of our proceeds from borrowings offset by our debt repayments and our repurchases of our Class A and Class A Special common stock. We have made, and may from time to time in...

  • Page 32
    ... Texas and Kansas City Cable Partners. (a) Customer premise equipment includes costs incurred to connect our services at the subscriber's home. The equipment deployed typically includes standard digital converters, HD converters, digital video recorders, remote controls, high-speed Internet modems...

  • Page 33
    ... to our Cable segment, including contracts with programming networks, customer premise equipment manufacturers, communication vendors, other cable operators for which we provide advertising sales representation, and other contracts entered into in the normal course of business. We also have purchase...

  • Page 34
    ... and operate a cable business within a specified geographic area. The value of a franchise is derived from the economic benefits we receive from the right to solicit new subscribers and to market new services, such as additional digital cable services and high-speed Internet and phone services, in...

  • Page 35
    ...upon ultimate resolution, individually or in the aggregate, are not expected to have a material adverse effect on our consolidated financial position but could possibly be material to our consolidated results of operations or cash flow for any one period. 33 Comcast 2007 Annual Report on Form 10-K

  • Page 36
    ... changes in interest rates. In order to manage the cost and volatility relating to the interest cost of our outstanding debt, we enter into various interest rate risk management derivative transactions in accordance with our policies. We monitor our interest rate risk exposures using techniques...

  • Page 37
    ... to Note 2 to our consolidated financial statements for a discussion of our accounting policies for derivative financial instruments and to Note 6 and Note 8 to our consolidated financial statements for discussions of our derivative financial instruments. 35 Comcast 2007 Annual Report on Form 10-K

  • Page 38
    ... Consolidated Balance Sheet Consolidated Statement of Operations Consolidated Statement of Cash Flows Consolidated Statement of Stockholders' Equity Consolidated Statement of Comprehensive Income Notes to Consolidated Financial Statements 37 38 39 40 41 42 42 43 Comcast 2007 Annual Report on Form...

  • Page 39
    ... consolidated financial statements be included in this Form 10-K. Brian L. Roberts Chairman and CEO Michael J. Angelakis Executive Vice President, Chief Financial Officer Lawrence J. Salva Senior Vice President, Chief Accounting Officer and Controller 37 Comcast 2007 Annual Report on Form...

  • Page 40
    ... in Note 2 to the consolidated financial statements, the Company adopted Statement of Financial Accounting Standards No. 123R, "Share Based Payments," effective January 1, 2006. /s/ Deloitte & Touche LLP Philadelphia, Pennsylvania February 20, 2008 Comcast 2007 Annual Report on Form 10-K 38

  • Page 41
    ... - 24 10 - 41,688 7,191 (7,517) (56) 41,340 $ 113,417 - 24 11 - 42,401 6,214 (7,517) 34 41,167 $ 110,405 See notes to consolidated financial statements. 39 Comcast 2007 Annual Report on Form 10-K

  • Page 42
    ... common share Income from continuing operations Income from discontinued operations Gain on discontinued operations Net income See notes to consolidated financial statements. 4,349 (1,800) 2,549 38 2,587 - - $ 2,587 $ 0.84 - - 0.84 0.83 - - 0.83 $ $ $ $ $ $ $ $ $ Comcast 2007 Annual Report...

  • Page 43
    ... liabilities Net cash provided by (used in) operating activities Financing Activities Proceeds from borrowings Retirements and repayments of debt Repurchases of common stock Issuances of common stock Other Net cash provided by (used in) financing activities Investing Activities Capital expenditures...

  • Page 44
    ... Stock Class Shares (in millions) A A Special B A Amount A Special B Additional Capital Retained Earnings Treasury Stock at Cost Accumulated Other Comprehensive Income (Loss) Total Balance, January 1, 2005 Stock compensation plans Repurchase and retirement of common stock Employee stock purchase...

  • Page 45
    ... video subscribers, 13.2 million high-speed Internet subscribers and 4.6 million phone subscribers. Our regional sports and news networks are also included in our Cable segment. Our Programming segment operates our consolidated national programming networks, including E!, The Golf Channel, VERSUS...

  • Page 46
    ... to agreements with local authorities that allow access to homes in cable service areas acquired in business combinations. Sports franchise rights represent the value attributed to our professional sports teams. We do not amortize cable franchise rights Comcast 2007 Annual Report on Form 10-K 44

  • Page 47
    ...identified benefit as an operating expense in the period in which it is received. Software. We capitalize direct development costs associated with internal-use software, including external direct costs of material and services, and payroll costs for employees devoting time to these software projects...

  • Page 48
    ...our consolidated financial statements. Revenue Recognition Cable revenues are primarily derived from subscriber fees received for our video, high-speed Internet and phone services ("cable services") and from advertising. We recognize revenues from cable services as the service is provided. We manage...

  • Page 49
    ... from the market value of certain publicly traded common stock. We have also sold call options on some of our investments in equity securities. We use equity hedges to manage exposure to changes in equity prices associated with stock appreciation rights of acquired companies. These equity hedges are...

  • Page 50
    ... costs. Equity warrants and equity collars are adjusted to estimated fair value on a current basis with the result included in investment income (loss), net in our consolidated statement of operations. Derivative instruments embedded in other contracts, such as our ZONES and prepaid forward sales...

  • Page 51
    ...average market price of our Class A common stock and our Class A Special common stock (see Note 11). Diluted EPS for 2007, 2006 and 2005 excludes approximately 61 million, 116 million and 126 million, respectively, of potential common shares related to our share-based compensation plans, because the...

  • Page 52
    ... the cable system serving Houston, Texas ("Houston Asset Pool") and Time Warner Cable received the cable systems serving Kansas City, south and west Texas, and New Mexico ("Kansas City Asset Pool"). We accounted for the distribution of assets by Texas and Kansas City Cable Partners as a sale of...

  • Page 53
    ...discontinued operations, net of tax Gain on discontinued operations, net of tax Net Income Basic earnings per common share Diluted earnings per common share $ 27,526 $ 2,225 $ 103 $ 23,672 $ 770 $ $ $ $ $ 100 - 870 0.26 0.26 $ 195 $ 2,523 $ $ 0.80 0.79 51 Comcast 2007 Annual Report on Form 10-K

  • Page 54
    ... Systems Corporation Discovery Holding Company Embarq Corporation Liberty Capital Liberty Global Liberty Interactive Sprint Nextel Time Warner Inc. Vodafone Tax exempt municipal securities Other Equity method Insight Midwest SpectrumCo, LLC Texas and Kansas City Cable Partners Other Cost method...

  • Page 55
    ... equity investments in publicly traded companies that we account for as AFS or trading securities. As of December 31, 2007, $2.049 billion of our fair value method securities support our obligations under our prepaid forward contracts that terminate between 2011 and 2015. The net unrealized gains on...

  • Page 56
    ... a summary of the financial information as reported by Texas and Kansas City Cable Partners: Year ended December 31 (in millions) 2006 2005 Operating Results: Total revenue Operating income Net Income December 31 (in millions) $ 1,705 402 84 2006 $1,470 198 81 shares are redeemable in April...

  • Page 57
    ... (in millions) Useful Life Customer relationships Cable and satellite television distribution rights Cable franchise renewal costs and contractual operating rights Computer software Patents and other technology rights Programming agreements and rights Other agreements and rights Total 4-12 years...

  • Page 58
    ..., net $ 2,000 1,000 575 138 $ 3,713 We used the net proceeds of these offerings for the repayment of certain debt obligations, the funding of acquisitions, working capital and general corporate purposes, including the repayment of commercial paper obligations. Comcast 2007 Annual Report on Form...

  • Page 59
    ... presented in the table above are used to measure interest to be paid or received and do not represent the amount of exposure to credit loss. The estimated fair value approximates the proceeds or payments required to settle the outstanding contracts. 57 Comcast 2007 Annual Report on Form 10-K

  • Page 60
    ... not yet recognized as a component of net periodic benefit cost Discount rate Expected return on plan assets $ 179 $ 157 $ (22) $ 1 6.25% 8.00% $ 280 $ - $ (280) $ $ 184 $ 122 $ (62) $ 280 $ - $ (280) $ (4) 6.00% N/A (39) $ 12 6.65% 5.75% N/A 7.00% Comcast 2007 Annual Report on Form 10-K 58

  • Page 61
    ...A Special common stock on the existing Class A Special common stock and Class B common stock with cash being paid in lieu of fractional shares. The number of shares outstanding and related prices, per share amounts, share conversions and share-based data have been adjusted to reflect the Stock Split...

  • Page 62
    ...Stock Split modification, the remaining unrecognized compensation costs related to all awards are recognized on a straight-line basis over the remaining requisite service period. The impact of this change was not material to our consolidated financial statements. Before January 1, 2006, we accounted...

  • Page 63
    ... with a cash payment ("cash settled stock options"). In net settled stock options, an employee receives the number of shares equal to the number of options being exercised less the number of shares necessary to satisfy the cost to exercise the options and, if applicable, taxes due on exercise...

  • Page 64
    ... Stock Purchase Plan that offers employees the opportunity to purchase shares of Class A common stock at a 15% discount. We recognize the fair value of the discount associated with shares purchased under the plan as share-based compensation expense in accordance with SFAS No. 123R. The employee cost...

  • Page 65
    ...) 2007 2006 Deferred tax assets: Net operating loss carryforwards Differences between book and tax basis of long-term debt Nondeductible accruals and other $ 252 163 1,225 1,640 $ 309 177 742 1,228 Deferred tax liabilities: Differences between book and tax basis of property and equipment and...

  • Page 66
    ... activity • settled the remaining outstanding $49 million face amount of exchangeable notes by delivering approximately 1.8 million of the 2.2 million underlying Vodafone ADRs to the counterparty, which is considered a noncash financing and investing activity Comcast 2007 Annual Report on Form...

  • Page 67
    ... of high-speed Internet services that filed for bankruptcy protection in September 2001. Filed actions were: (i) class action lawsuits against us, AT&T (the former controlling shareholder of At Home and also a former distributor of the At Home service) and others in the United States District...

  • Page 68
    ... one of our current officers have been named as defendants in a purported class action lawsuit filed in the Eastern District in February 2008. The alleged class comprises participants in our retirement-investment (401(k)) plan that invested in the plan's company stock account. The plaintiff asserts...

  • Page 69
    ... Comcast Network, Comcast SportsNet Chicago, MountainWest Sports Network, Comcast SportsNet West (Sacramento), Comcast SportsNet New England (Boston), Comcast SportsNet Northwest and Bay Area SportsNet (San Francisco)) are included in our Cable segment. To be consistent with our management reporting...

  • Page 70
    Note 16: Quarterly Financial Information (Unaudited) (in millions, except per share data) First Quarter Second Quarter Third Quarter Fourth Quarter Total Year 2007 Revenues Operating income Net income Basic earnings per common share Diluted earnings per common share 2006 Revenues Operating income ...

  • Page 71
    ... Consolidating Financial Information Comcast Corporation and five of our cable holding company subsidiaries, 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...

  • Page 72
    ... Subsidiaries Elimination and Consolidation Adjustments Consolidated Comcast Corporation (in millions) Comcast Parent CCCL Parent CCCH Parent Comcast Holdings Assets Cash and cash equivalents Investments Accounts receivable, net Other current assets Total current assets Investments Investments...

  • Page 73
    ... For the Year Ended December 31, 2007 Combined CCHMO Parents NonGuarantor Subsidiaries Elimination and Consolidation Adjustments Consolidated Comcast Corporation (in millions) Comcast Parent CCCL Parent CCCH Parent Comcast Holdings Revenues Service revenues Management fee revenue $ - 630 630...

  • Page 74
    ... 31, 2006 Combined CCHMO Parents NonGuarantor Subsidiaries Elimination and Consolidation Adjustments Consolidated Comcast Corporation (in millions) Comcast Parent CCCL Parent CCCH Parent Comcast Holdings Revenues Service revenues Management fee revenue $ - 526 526 $ - 193 193 - 193 - - 193...

  • Page 75
    ... CCHMO Parents NonGuarantor Subsidiaries Elimination and Consolidation Adjustments Consolidated Comcast Corporation (in millions) Comcast Parent CCCL Parent CCCH Parent Comcast Holdings Revenues Service revenues Management fee revenue Costs and Expenses Operating (excluding depreciation...

  • Page 76
    ... Consolidated Comcast Corporation (in millions) Comcast Parent CCCL Parent CCCH Parent Comcast Holdings Operating Activities Net cash provided by (used in) operating activities Financing Activities Proceeds from borrowings Retirements and repayments of debt Repurchases of common stock...

  • Page 77
    ... Consolidated Comcast Corporation (in millions) Comcast Parent CCCL Parent CCCH Parent Comcast Holdings Operating Activities Net cash provided by (used in) operating activities Financing Activities Proceeds from borrowings Retirements and repayments of debt Repurchases of common stock...

  • Page 78
    ... Consolidated Comcast Corporation (in millions) Comcast Parent CCCL Parent CCCH Parent Comcast Holdings Operating Activities Net cash provided by (used in) operating activities Financing Activities Proceeds from borrowings Retirements and repayments of debt Repurchases of common stock...

  • Page 79
    ... 15d-15, our disclosure controls and procedures were effective. Management's annual report on internal control over financial reporting Refer to Management's Report on Internal Control Over Financial Reporting on page 37. Item 9B: Other Information None. 77 Comcast 2007 Annual Report on Form 10-K

  • Page 80
    ... J. Angelakis has served as Executive Vice President and Co-Chief Financial Officer of Comcast Corporation since March 2007. Before March 2007, Mr. Angelakis served as Managing Director and as a member of the Management and Investment Committees of Providence Equity Partners for more than five years...

  • Page 81
    ...: Principal Accountant Fees and Services We incorporate the information required by this item by reference to our 2008 Proxy Statement. We will file our 2008 Proxy Statement for our annual meeting of shareholders with the SEC on or before April 30, 2008. 79 Comcast 2007 Annual Report on Form 10-K

  • Page 82
    ... Amended By-Laws of Comcast Corporation as of December 12, 2007. Specimen Class A Common Stock Certificate (incorporated by reference to Exhibit 4.1 to our Annual Report on Form 10-K for the year ended December 31, 2002). Specimen Class A Special Common Stock Certificate (incorporated by reference...

  • Page 83
    ... 3, 2007. Comcast Corporation 2002 Employee Stock Purchase Plan, as amended and restated effective December 14, 2005 (incorporated by reference to Exhibit 10.14 to our Annual Report on Form 10-K for the year ended December 31, 2005). Comcast Corporation Supplemental Executive Retirement Plan, as...

  • Page 84
    ... Exhibit 2.2 to our Current Report on Form 8-K filed on April 26, 2005). Redemption Agreement, dated as of April 20, 2005, by and among Comcast Cable Communications Holdings, Inc., MOC Holdco I, LLC, TWE Holdings I Trust, Cable Holdco III LLC, Time Warner Entertainment Company, L.P. and, for certain...

  • Page 85
    ... and among Comcast Corporation, Comcast Cable Communications Holdings, Inc., Comcast of Georgia, Inc., TCI Holdings, Inc., Time Warner Cable Inc., Time Warner NY Cable LLC and Urban Cable Works of Philadelphia, L.P. (incorporated by reference to Exhibit 2.4 to our Current Report on Form 8-K filed on...

  • Page 86
    ... Michael Cook /s/ JEFFREY A. HONICKMAN Jeffrey A. Honickman /s/ DR. JUDITH RODIN Dr. Judith Rodin /s/ MICHAEL I. SOVERN Michael I. Sovern Comcast 2007 Annual Report on Form 10-K Chairman and CEO; Director (Principal Executive Officer) Chairman of the Executive and Finance Committee of the Board of...

  • Page 87
    ... schedule, when considered in relation to the basic consolidated financial statements taken as a whole, presents fairly, in all material respects, the information set forth therein. /s/ DELOITTE & TOUCHE LLP Philadelphia, Pennsylvania February 20, 2008 85 Comcast 2007 Annual Report on Form...

  • Page 88
    ... Additions Charged to Costs and Expenses Deductions from Reserves(a) Balance at End of Year (in millions) Allowance for Doubtful Accounts 2007 2006 2005 (a) Uncollectible accounts written off. $ 157 132 127 $ 418 279 245 $ 394 254 240 $ 181 157 132 Comcast 2007 Annual Report on Form 10-K 86