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Note 17: Condensed 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 MO of Delaware, LLC (“Comcast MO of Delaware”), 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.”
In September 2005, Comcast Corporation unconditionally guaranteed Comcast Holdings’ (our immediate predecessor and now a sub-
sidiary) ZONES due October 2029 and its 105/8% Senior Subordinated Debentures due 2012, both of which were issued by Comcast
Holdings; accordingly, we have included Comcast Holdings’ condensed consolidated financial information for all periods presented. Our
condensed consolidating financial information is as follows:
Condensed Consolidating Balance Sheet
As of December 31, 2007
(in millions)
Comcast
Parent
CCCL
Parent
CCCH
Parent
Combined
CCHMO
Parents
Comcast
Holdings
Non-
Guarantor
Subsidiaries
Elimination
and
Consolidation
Adjustments
Consolidated
Comcast
Corporation
Assets
Cashandcashequivalents $—$—$—$—$—$963$ —$963
Investments ——— —— 98 — 98
Accounts receivable, net — — — — — 1,645 — 1,645
Other current assets 100 — — — — 861 — 961
Total current assets 100 — — — — 3,567 — 3,667
Investments — — — — — 7,963 — 7,963
Investments in and amounts due
from subsidiaries eliminated
upon consolidation 67,903 32,760 40,240 43,356 25,815 2,244 (212,318) —
Property and equipment, net 208 — — — — 23,416 — 23,624
Franchise rights — — — — — 58,077 — 58,077
Goodwill — — — — — 14,705 — 14,705
Other intangible assets, net — — — — — 4,739 — 4,739
Other noncurrent assets, net 281 11 17 — 30 303 — 642
Total assets $ 68,492 $ 32,771 $ 40,257 $ 43,356 $ 25,845 $ 115,014 $ (212,318) $ 113,417
Liabilities and Stockholders’ Equity
Accounts payable and accrued
expenses related
to trade creditors $ 10 $ 3 $ — $ — $ — $ 3,323 $ — $ 3,336
Accrued expenses and other
current liabilities 694 267 75 98 74 1,913 — 3,121
Current portion of long-term debt — 1,142 — 305 — 48 — 1,495
Total current liabilities 704 1,412 75 403 74 5,284 — 7,952
Long-term debt, less current portion 19,133 3,294 3,498 2,713 908 282 — 29,828
Deferred income taxes 6,256 — — — 1,015 19,609 — 26,880
Other noncurrent liabilities 1,059 6 — — 116 5,986 — 7,167
Minority interest — — — — — 250 — 250
Stockholders’ Equity
Commonstock 34—— —— — — 34
Other stockholders’ equity 41,306 28,059 36,684 40,240 23,732 83,603 (212,318) 41,306
Total stockholders’ equity 41,340 28,059 36,684 40,240 23,732 83,603 (212,318) 41,340
Total liabilities and
stockholders’ equity $ 68,492 $ 32,771 $ 40,257 $ 43,356 $ 25,845 $ 115,014 $ (212,318) $ 113,417
69 Comcast 2007 Annual Report on Form 10-K