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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, 2008
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.
Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting
company. See definition of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.
(Check one):
Large accelerated filer ÈAccelerated filer Non-accelerated filer Small reporting company
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, 2008, the aggregate market value of the Class A common stock and Class A Special common stock held by non-affiliates
of the Registrant was $39.033 billion and $15.656 billion, respectively.
As of December 31, 2008, there were 2,060,982,734 shares of Class A common stock, 810,211,190 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 2009.

Table of contents

  • Page 1
    ... 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) 286-1700 SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT: Title of Each Class Class A Common Stock...

  • Page 2
    ... Executive Compensation Security Ownership of Certain Beneficial Owners and Management Certain Relationships and Related Transactions Principal Accountant Fees and Services 80 81 81 81 81 PART IV Item 15 Exhibits and Financial Statement Schedules Signatures 82 85 This Annual Report on Form...

  • Page 3
    ... stock and Class A Special common stock for approximately $2.8 billion under our share repurchase authorization Available Information and Web Sites Our phone number is (215) 286-1700, and our principal executive offices are located at One Comcast Center, Philadelphia, PA 19103-2838. The public...

  • Page 4
    ...is located. (c) Penetration is calculated by dividing the number of customers by the number of homes passed or available homes, as appropriate. The number of customers includes our small and medium-sized business customers. (d) Digital video customers are those who receive any level of video service...

  • Page 5
    ...-resolution picture quality, improved audio quality and a wide-screen format. Our HDTV service offers our digital video customers a broad selection of high-definition programming, including most major broadcast networks, leading national cable networks, premium channels and regional sports networks...

  • Page 6
    ... number of suppliers that we use in providing our video services. For our high-speed Internet portal, Comcast.net, we license software products (such as e-mail and security software) and content (such as news feeds) from a variety of suppliers under contracts in which we generally pay on a fixed-fee...

  • 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
    ... offered by our cable systems. In addition, some SMATV operators offer packages of video, Internet and phone services to residential and commercial developments. Local broadcast services Local broadcast stations have the ability to broadcast multiple streams of free programming in their digital...

  • Page 9
    ... networks; home video, pay-per-view and video on demand services; and Internet sites. Finally, our programming networks compete for advertising revenue with other national and local media, including other television networks, television stations, radio stations, newspapers, Internet sites and direct...

  • Page 10
    ..., video customer rates, carriage of broadcast television stations, the way we sell our programming packages to customers, 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...

  • Page 11
    ... regulations aimed at promoting the retail sale of set-top boxes and other equipment that can be used to receive digital video services. Effective July 2007, cable operators were prohibited from acquiring for deployment set-top boxes that perform both channel navigation and security functions. Set...

  • Page 12
    ... generally 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 local phone companies' entry into cable services. In December 2006, the FCC adopted...

  • Page 13
    ... Internet-related regulations. Furthermore, Congress, the FCC and certain state and local governments are also considering proposals to impose customer 11 Comcast 2008 Annual Report on Form 10-K High-Speed Internet Services We provide high-speed Internet services by means of our existing cable...

  • Page 14
    .... Phone Services We currently offer phone services using interconnected VoIP technology. Upon receipt of requested approvals for two remaining service areas, we will no longer provide circuit-switched phone service. The FCC has adopted a number of orders addressing regulatory issues relating to...

  • Page 15
    ..., fiberoptic-based networks and, in some cases, are using IP technology to provide video services in substantial portions of their service areas. Local phone companies and various other companies also offer DSL and other Internet services. We expect other advances in communications technology, as...

  • Page 16
    ... to regulation by federal, state and local governments, which may impose additional costs and restrictions. Federal, state and local governments extensively regulate the video services industry and may increase the regulation of the Internet service and digital phone service industries. We expect...

  • Page 17
    ...degradation or disruption of our cable services, excessive call volume to call centers or damage to our equipment and data. These network and information systems-related events also could result in large expenditures to repair or replace the damaged networks or information systems or to protect them...

  • Page 18
    ...Our high-speed Internet network consists of fiber-optic cables owned by us and related equipment. We also operate regional data centers with equipment that is used to provide services (such as e-mail, news and web services) to our high-speed Internet customers and digital phone service customers. In...

  • Page 19
    ...class comprises participants in our retirement-investment (401(k)) plan that invested in the plan's company stock account. The plaintiff asserts that the defendants breached their fiduciary duties in managing the plan. The plaintiff seeks unspecified damages. The plaintiff filed an amended complaint...

  • Page 20
    ... ultimate liability with respect to such actions is not expected to materially affect our financial position, results of operations or cash flows, any litigation resulting from any such legal proceedings or claims could be time consuming, costly and injure our reputation. Comcast 2008 Annual Report...

  • Page 21
    ... that we will complete our share repurchase authorization by the end of 2009 as previously planned. The total number of shares purchased during 2008 includes 728,894 shares received in the administration of employee share-based compensation plans. 19 Comcast 2008 Annual Report on Form 10-K

  • Page 22
    ... and media industries. This peer group consists of Cablevision Systems Corporation (Class A), DISH Network Corporation, DirecTV Inc., Time Warner Cable Inc. and Time Warner Inc. The graph assumes $100 was invested on December 31, 2003 in our Class A common stock and Class A Special common stock and...

  • Page 23
    ...operations Discontinued operations(a) Net income Dividends declared per common share Balance Sheet Data (at year end) Total assets Long-term debt Stockholders' equity Statement of Cash Flows Data Net cash provided by (used in): Operating activities Financing activities Investing activities $ 34,256...

  • Page 24
    ...a full digital service with access to hundreds of channels, including premium and pay-per-view channels; On Demand; music channels; and an interactive, on-screen program guide. Digital video customers may also subscribe to advanced digital video services, including digital video recorder ("DVR") and...

  • Page 25
    ...the acquisition of Internet-related businesses, which include Plaxo and DailyCandy, and the purchase of an additional ownership interest in Comcast SportsNet Bay Area • the repurchase of approximately 141 million shares of our Class A common stock and Class A Special common stock for approximately...

  • Page 26
    ... million in 2008 and 2007, respectively, related to our other business activities, primarily growth in Comcast Interactive Media and revenue generated in 2008 by Comcast Spectacor's professional sports teams. Cable segment revenue and Programming segment revenue are discussed separately in "Segment...

  • Page 27
    ...continued demand for our services (including our bundled and advanced service offerings), as well as other factors discussed below. Of our total customers, in 2008 the newly acquired cable systems accounted for 696,000 video customers, 370,000 high-speed Internet customers and 74,000 phone customers...

  • Page 28
    ... continuing. High-Speed Internet Customers (in millions) 13.2 11.5 $110 2006 2007 2008 Video We offer video services ranging from a limited analog service to a full digital service with access to hundreds of channels, including premium and pay-per-view channels. Digital video customers may also...

  • Page 29
    ...), Comcast SportsNet Northwest (Portland), Comcast SportsNet New England (Boston), Comcast SportsNet Bay Area (San Francisco) and MountainWest Sports Network. These networks generate revenue through programming license agreements with multichannel video providers and the sale of advertising time...

  • Page 30
    ... 2006 to 2007 Video programming Technical labor costs High-speed Internet Phone Other Total Video programming expenses, our largest operating expense, are the fees we pay to programming networks to license the programming we package, offer and distribute to our video customers. These expenses are...

  • Page 31
    ... Network Description E! Golf Channel VERSUS G4 Style 85 73 66 57 51 Pop culture and entertainment-related programming Golf and golf-related programming Sports and leisure programming Gamer lifestyle programming Lifestyle-related programming We also own interests in MGM (20%), iN DEMAND...

  • Page 32
    ... reorganization of the issuing company to a security with a different volatility rate Other Income (Expense) Other expense for 2008 includes an impairment of approximately $600 million related to our investment in Clearwire (see Note 6 to our consolidated financial statements), partially offset by...

  • Page 33
    ... in a reduction in our tax payments of approximately $600 million. The increase in tax payments in 2007 was primarily due to the effects of increases in income, sales of investments, and the settlement of federal and state tax audits of $376 million. 31 Comcast 2008 Annual Report on Form 10-K

  • Page 34
    ...video on demand equipment) and equipment necessary to provide certain video, high-speed Internet and digital phone service features (e.g., voice mail and e-mail). (c) Line extensions include the costs of extending our distribution network into new service areas. These costs typically include network...

  • Page 35
    .... Cable capital expenditures increased 41.2% in 2007 primarily as a result of the continued rollout of our digital phone service and an increase in demand for advanced set-top boxes (including DVR and HDTV) and high-speed Internet modems. These increases were accelerated by the success of our triple...

  • Page 36
    ... 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 customers and to market new services, such as advanced digital video services and high-speed Internet and phone services, in a Comcast 2008...

  • Page 37
    .... On January 1, 2007, we adopted Financial Accounting Standards Board ("FASB") Interpretation ("FIN") No. 48, "Accounting for Uncertainty in Income Taxes - an Interpretation of FASB Statement No. 109," ("FIN 48"). We evaluate our tax positions using the 35 Comcast 2008 Annual Report on Form 10-K

  • Page 38
    ... swaps using the average implied forward London Interbank Offered Rate ("LIBOR") for the year of maturity based on the yield curve in effect on December 31, 2008, plus the applicable margin in effect on December 31, 2008. As a matter of practice, we typically do not structure our financial contracts...

  • Page 39
    ... to and benefits from price fluctuations in the common stock of some of our investments, we use equity derivative financial instruments. These derivative financial instruments, which are accounted for at fair value, include equity collar agreements, prepaid forward sales agreements and indexed...

  • Page 40
    ... 8: Financial Statements and Supplementary Data Index Page Report of Management Report of Independent Registered Public Accounting Firm Consolidated Balance Sheet Consolidated Statement of Operations Consolidated Statement of Cash Flows Consolidated Statement of Stockholders' Equity Consolidated...

  • Page 41
    ... of our consolidated financial statements and internal control over financial reporting. The Audit Committee meets regularly with management and with our internal auditors and independent registered public accounting firm (collectively, the "auditors") to review matters related to the quality and...

  • Page 42
    ... the consolidated financial statements, the Company adopted FASB Interpretation No. 48, "Accounting for Uncertainty in Income Taxes - an Interpretation of FASB Statement 109," effective January 1, 2007. /s/ Deloitte & Touche LLP Philadelphia, Pennsylvania February 20, 2009 Comcast 2008 Annual Report...

  • Page 43
    ...-in capital Retained earnings Treasury stock, 365,460,750 Class A common shares and 70,934,764 Class A Special common shares Accumulated other comprehensive income (loss) Total stockholders' equity Total liabilities and stockholders' equity See notes to consolidated financial statements. $ 1,195...

  • Page 44
    ... operations Gain on discontinued operations Net income Dividends declared per common share See notes to consolidated financial statements. 4,058 (1,533) 2,525 22 2,547 - - $ 2,547 $ 0.87 - - 0.87 0.86 - - 0.86 0.25 $ $ $ $ $ $ $ $ $ $ $ $ Comcast 2008 Annual Report on Form 10-K 42

  • Page 45
    ...of common stock Other Net cash provided by (used in) financing activities Investing Activities Capital expenditures Cash paid for intangible assets Acquisitions, net of cash acquired Proceeds from sales of investments Purchases of investments Other Net cash provided by (used in) investing activities...

  • Page 46
    Consolidated Statement of Stockholders' Equity Common 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, 2006 Stock compensation plans Repurchase and...

  • Page 47
    ... million high-speed Internet customers and 6.5 million phone customers. Our regional sports networks are also included in our Cable segment. Our Programming segment operates our consolidated national programming networks, including E!, Golf Channel, VERSUS, G4 and Style. Our other businesses consist...

  • Page 48
    ... costs. We capitalize initial customer installation costs directly attributable to installation of the drop, including material, labor and overhead cost, in accordance with SFAS No. 51, "Financial Reporting by Cable Television Companies." All costs incurred in connection with subsequent service...

  • Page 49
    ... of our financial and strategic planning process, including the preparation of long-term projections, from completion in the early part of each calendar year to a midyear completion. These longterm financial projections are used as the basis for performing our annual impairment testing. As a result...

  • Page 50
    ...from customer fees received for our video, high-speed Internet and phone services ("cable services") and from advertising. We recognize revenue from cable services as the service is provided. We manage credit risk by screening applicants through the use of credit bureau data. If a customer's account...

  • Page 51
    ... related to the interest payments on an anticipated issuance or assumption of fixed-rate debt may be adversely affected by interest-rate fluctuations. We manage our exposure to and benefits from price fluctuations in the common stock of some of our investments by using equity derivative financial...

  • Page 52
    ...number of common shares outstanding during the period. Our potentially dilutive securities include potential common shares related to our stock options and restricted share units ("RSUs"). Diluted earnings per common share ("Diluted EPS") considers the impact of potentially dilutive securities using...

  • Page 53
    ... per share data) Revenue Net income Basic EPS Diluted EPS $31,582 $ 2,627 $ 0.85 $ 0.84 Other 2008 Acquisitions In April 2008, we acquired an additional interest in Comcast SportsNet Bay Area. In July 2008, we acquired Plaxo, an address book management and social networking Web site service. In...

  • Page 54
    ... acquired the cable system of Patriot Media serving approximately 81,000 video customers in central New Jersey. The results of operations of Patriot Media, Comcast SportsNet Bay Area and Comcast SportsNet New England have been included in our consolidated financial statements since their acquisition...

  • Page 55
    ... our consolidated financial statements for the year ended December 31, 2006. Property and equipment Franchise-related customer relationships Cable franchise rights Goodwill Other assets Total liabilities Net assets acquired $ 2,640 1,627 6,730 420 111 (351) $11,177 53 Comcast 2008 Annual Report...

  • Page 56
    ... their nextgeneration wireless broadband businesses and formed a new independent holding company, Clearwire Corporation, and its operating subsidiary, Clearwire Communications LLC ("Clearwire 54 Fair Value Method We hold equity investments in publicly traded companies that we account for as AFS or...

  • Page 57
    ...to the value that would be obtained by exchanging our investment into Clearwire Corporation's publicly traded Class A shares. Cost Method AirTouch Communications, Inc. We hold two series of preferred stock of AirTouch Communications, Inc. ("AirTouch"), a subsidiary of Vodafone, which are redeemable...

  • Page 58
    ... on sales and exchanges of investments, net" caption in the table above. Note 7: Goodwill and Other Intangible Assets The changes in the carrying amount of goodwill by business segment (see Note 16) are presented in the table below. (in millions) Cable Programming Corporate and Other Total Balance...

  • Page 59
    ... whose value is based on quoted market prices for identical financial instruments in an active market Recurring Fair Value Measures Fair value as of December 31, 2008 (in millions) Level 1 Level 2 Level 3 Total Assets Trading securities Available-for-sale securities Equity warrants Cash surrender...

  • Page 60
    ... adjust our cost basis in our investment in Clearwire LLC of approximately $1 billion to its estimated fair value (see Note 6). Our valuation methodology utilized a combination of the quoted market value of Clearwire Corporation's publicly traded Class A shares and unobservable inputs related to the...

  • Page 61
    ...notes due 2038 Other, net Total $ 1,510 1,000 1,000 25 $ 3,535 We used the net proceeds of these issuances and borrowings for the repayment of certain debt obligations, the repurchase of our common stock, the purchase of investments, working capital and general corporate purposes. Debt Redemptions...

  • Page 62
    ...all former employees of a previously acquired company. Future benefits for both plans have been frozen. Comcast 2008 Annual Report on Form 10-K 60 Other Employee Benefits Deferred Compensation Plans We maintain unfunded, nonqualified deferred compensation plans for certain members of management and...

  • Page 63
    ...of our common stock and holders of our Class B common stock have 331/3% of the voting power of our common stock. Our Class A Special common stock is generally nonvoting. Each share of our Class B common stock is entitled to 15 votes. The number of votes held by each share of our Class A common stock...

  • Page 64
    ...share units Employee stock purchase plan Total Tax benefit $ 99 96 13 $208 $ 71 $ 74 79 11 $164 $ 56 $120 62 8 $190 $ 66 We use the Black-Scholes option pricing model to estimate the fair value of each stock option on the date of grant. The Black-Scholes option pricing model uses the assumptions...

  • Page 65
    ... were issued under a stock option liquidity program in 2005 and will expire by the end of 2012. We also maintain a deferred stock option plan for certain employees and directors that provided the optionees with the opportunity to defer the receipt of shares of Class A or Class A Special common stock...

  • Page 66
    ... and 89,000 shares of Class A common stock and Class A Special common stock, respectively, were issuable under vested RSU awards, the receipt of which was irrevocably deferred by participants. Federal tax at statutory rate State income taxes, net of federal benefit Nondeductible losses from joint...

  • Page 67
    ... earnings by $60 million. Our uncertain tax positions as of December 31, 2008 totaled $1.45 billion, excluding the federal benefits on state tax positions that have been recorded as deferred income taxes. If we were to recognize the tax benefit for 65 Comcast 2008 Annual Report on Form 10-K

  • Page 68
    ... networks and regional sports networks and our minimum annual rental commitments for office space, equipment and transponder service agreements under noncancelable operating leases. Program License Agreements Operating Leases As of December 31, 2008 (in millions) 2009 2010 2011 2012 2013...

  • Page 69
    ...class comprises participants in our retirement-investment (401(k)) plan that invested in the plan's company stock account. The plaintiff asserts that the defendants breached their fiduciary duties in managing the plan. The plaintiff seeks unspecified damages. The plaintiff filed an amended complaint...

  • Page 70
    ... invested in company stock. We filed an answer to the amended complaint on December 11, 2008, and discovery is proceeding in the action. Patent Litigation We are a defendant in several unrelated lawsuits claiming infringement of various patents relating to various aspects of our businesses...

  • Page 71
    ... services: Video High-speed Internet Phone Advertising Franchise fees Other Total 58.0% 22.3% 8.2% 4.7% 2.8% 4.0% 100.0% 60.4% 21.9% 6.0% 5.2% 2.8% 3.7% 100.0% 62.6% 20.6% 3.8% 6.1% 3.0% 3.9% 100.0% Subscription revenue received from customers who purchase bundled services at a discounted rate...

  • Page 72
    ...: Quarterly Financial Information (Unaudited) (in millions, except per share data) First Quarter Second Quarter Third Quarter Fourth Quarter Total Year 2008 Revenue Operating income Net income Basic earnings per common share Diluted earnings per common share Dividends declared per common share 2007...

  • Page 73
    ... 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 in and...

  • Page 74
    ... 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 in and...

  • Page 75
    ...2008 Combined CCHMO Parents NonGuarantor Subsidiaries Elimination and Consolidation Adjustments Consolidated Comcast Corporation (in millions) Comcast Parent CCCL Parent CCCH Parent Comcast Holdings Revenue Service revenue Management fee revenue $ - 735 735 $ - 226 226 - 226 - - 226 - (298...

  • Page 76
    ...2007 Combined CCHMO Parents NonGuarantor Subsidiaries Elimination and Consolidation Adjustments Consolidated Comcast Corporation (in millions) Comcast Parent CCCL Parent CCCH Parent Comcast Holdings Revenue Service revenue Management fee revenue $ - 630 630 $ - 213 213 - 213 - - 213 - (363...

  • Page 77
    ...2006 Combined CCHMO Parents NonGuarantor Subsidiaries Elimination and Consolidation Adjustments Consolidated Comcast Corporation (in millions) Comcast Parent CCCL Parent CCCH Parent Comcast Holdings Revenue Service revenue Management fee revenue $ - 526 526 $ - 193 193 - 193 - - 193 - (400...

  • Page 78
    ...Issuances of common stock Other Net cash provided by (used in) financing activities Investing Activities Net transactions with affiliates Capital expenditures Cash paid for intangible assets Acquisitions, net of cash acquired Proceeds from sales of investments Purchases of investments Other Net cash...

  • Page 79
    ... common stock Issuances of common stock Other Net cash provided by (used in) financing activities Investing Activities Net transactions with affiliates Capital expenditures Cash paid for intangible assets Acquisitions, net of cash acquired Proceeds from sales of investments Purchases of investments...

  • Page 80
    ... common stock Issuances of common stock Other Net cash provided by (used in) financing activities Investing Activities Net transactions with affiliates Capital expenditures Cash paid for intangible assets Acquisitions, net of cash acquired Proceeds from sales of investments Purchases of investments...

  • Page 81
    ... over financial reporting. Item 9A: Controls and Procedures Conclusions regarding disclosure controls and procedures Our principal executive and principal financial officers, after evaluating the effectiveness of our disclosure controls and procedures (as defined in the Securities Exchange Act...

  • Page 82
    ... J. Angelakis has served as Executive Vice President and 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 83
    ...: Principal Accountant Fees and Services We incorporate the information required by this item by reference to our 2009 Proxy Statement. We will file our 2009 Proxy Statement for our annual meeting of shareholders with the SEC on or before April 30, 2009. 81 Comcast 2008 Annual Report on Form 10-K

  • Page 84
    ... Cable Communications Holdings, Inc., the Financial Institutions party thereto and JP Morgan Chase Bank, N.A., as Administrative Agent (incorporated by reference to Exhibit 10.53 to our Annual Report on Form 10-K for the year ended December 31, 2007). Comcast Corporation 2002 Stock Option Plan...

  • Page 85
    ... Comcast Corporation 2003 Cable Division Advertising/Sales Group Long Term Incentive Plan, as amended and restated effective January 1, 2007 (incorporated by reference to Exhibit 10.11 to our Annual Report on Form 10-K for the year ended December 31, 2007). Comcast Corporation Retirement Investment...

  • Page 86
    ... Plan. Form of Restricted Stock Unit Award under the Comcast Corporation 2002 Restricted Stock Plan. Statement of Earnings to fixed charges and earnings to combined fixed charges and preferred dividends. List of subsidiaries. Consent of Deloitte & Touche LLP. Certification of Chief Executive Officer...

  • Page 87
    ... its behalf by the undersigned, thereunto duly authorized in Philadelphia, Pennsylvania on February 20, 2009. By: /s/ BRIAN L. ROBERTS Brian L. Roberts Chairman and CEO Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on...

  • Page 88
    ... financial statement 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, 2009 Comcast 2008 Annual Report...

  • Page 89
    Comcast Corporation and Subsidiaries Schedule II - Valuation and Qualifying Accounts Years Ended December 31, 2008, 2007 and 2006 Balance at Beginning of Year Additions Charged to Costs and Expenses Deductions from Reserves(a) Balance at End of Year (in millions) Allowance for Doubtful Accounts ...