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Note 14: Statement of Cash Flows —
Supplemental Information
Cash Payments for Interest and Income Taxes
Year ended December 31 (in millions) 2008 2007 2006
Interest $ 2,256 $ 2,134 $ 1,880
Income taxes $ 762 $ 1,638 $ 1,284
Noncash Financing and Investing Activities
During 2008, we:
• exchanged our 50% interest in the Insight asset pool for
Insight’s 50% interest in the Comcast asset pool, which is a
noncash investing activity
• recorded a liability of approximately $180 million for a quarterly
cash dividend of $0.0625 per common share paid in January
2009, which is a noncash financing activity
• acquired approximately $559 million of property and equipment
and software that are accrued but unpaid, which is a noncash
investing activity
• issued an interest in a consolidated entity with a value of approx-
imately $145 million in exchange for certain programming rights,
which is a noncash investing activity
During 2007, we:
• exchanged our 50% interest in the Kansas City asset pool for
TWC’s 50% interest in the Houston asset pool, which is a non-
cash investing 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 a noncash financing and investing activity
• entered into capital leases totaling $46 million, which is a non-
cash investing and financing activity
• acquired approximately $593 million of property and equipment
and software that are accrued but unpaid, which is a noncash
investing activity
During 2006, we:
• exchanged investments for cable systems in the redemptions
with a fair value of approximately $3.2 billion and cable systems
for cable systems in the exchanges with a fair value of approx-
imately $8.5 billion, which are noncash investing activities
• acquired an additional equity interest with a fair value of $21 mil-
lion and recorded a liability for a corresponding amount in
connection with our achievement of certain customer launch
milestones, which is a noncash investing and operating activity
• assumed a $185 million principal amount variable-rate term loan
in connection with the Susquehanna transaction, which is a
noncash financing and investing activity
• acquired approximately $314 million of property and equipment
and software that are accrued but unpaid, which is a noncash
investing activity
Note 15: Commitments and Contingencies
Commitments
Our programming networks have entered into license agreements
for programs and sporting events that are available for telecast. In
addition, we, through Comcast Spectacor, have employment
agreements with both players and coaches of our professional
sports teams. Certain of these employment agreements, which
provide for payments that are guaranteed regardless of employee
injury or termination, are covered by disability insurance if certain
conditions are met.
One of our subsidiaries supports debt compliance with respect to
obligations of a cable television investment in which we hold an
ownership interest. The obligation expires March 2011. Although
there can be no assurance, we believe that we will not be required
to meet our obligation under such commitment. The total notional
amount of our commitment was $410 million as of December 31,
2008, at which time there were no quoted market prices for similar
agreements. This amount reflects a decrease of approximately
$555 million from December 31, 2007, primarily as a result of the
Insight transaction (see Note 5).
The table below summarizes our minimum annual commitments
under the programming license agreements of our programming
networks and regional sports networks and our minimum annual
rental commitments for office space, equipment and transponder
service agreements under noncancelable operating leases.
As of December 31, 2008 (in millions)
Program
License
Agreements
Operating
Leases
2009 $ 559 $ 385
2010 $ 593 $ 317
2011 $ 578 $ 225
2012 $ 510 $ 176
2013 $ 516 $ 152
Thereafter $ 5,145 $ 833
Comcast 2008 Annual Report on Form 10-K 66