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Note 18: 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.”
Comcast Corporation has unconditionally guaranteed Comcast Holdings’ ZONES due October 2029 and its 105/8% Senior Subordinated
Debentures due 2012. Our condensed consolidating financial information is presented in the tables below.
Condensed Consolidating Balance Sheet
As of December 31, 2008
(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 $—$—$—$—$—$1,195$ —$1,195
Investments ————— 59 — 59
Accounts receivable, net — — — — — 1,626 — 1,626
Other current assets 171 8 — — — 657 — 836
Total current assets 171 8 — — — 3,537 — 3,716
Investments — — — — — 4,783 — 4,783
Investments in and amounts due from
subsidiaries eliminated upon
consolidation 70,076 34,499 43,536 46,314 26,519 4,471 (225,415) —
Property and equipment, net 306 — — — — 24,138 — 24,444
Franchise rights — — — — — 59,449 — 59,449
Goodwill — — — — — 14,889 — 14,889
Other intangible assets, net 1 — — — — 4,557 — 4,558
Other noncurrent assets, net 603 7 14 — 17 537 — 1,178
Total assets $ 71,157 $ 34,514 $ 43,550 $ 46,314 $ 26,536 $ 116,361 $ (225,415) $ 113,017
Liabilities and Stockholders’ Equity
Accounts payable and accrued
expenses related to trade creditors $ 196 $ — $ — $ — $ — $ 3,197 $ — $ 3,393
Accrued expenses and other current
liabilities 810 224 73 87 129 1,945 — 3,268
Current portion of long-term debt 1,242 1,006 — — — 30 — 2,278
Total current liabilities 2,248 1,230 73 87 129 5,172 — 8,939
Long-term debt, less current portion 19,839 2,294 4,462 2,691 610 282 — 30,178
Deferred income taxes 7,160 — — — 656 19,166 — 26,982
Other noncurrent liabilities 1,460 — — — 119 4,592 — 6,171
Minority interest — — — — — 297 — 297
Stockholders’ Equity
Commonstock 33———— — — 33
Other stockholders’ equity 40,417 30,990 39,015 43,536 25,022 86,852 (225,415) 40,417
Total stockholders’ equity 40,450 30,990 39,015 43,536 25,022 86,852 (225,415) 40,450
Total liabilities and
stockholders’ equity $ 71,157 $ 34,514 $ 43,550 $ 46,314 $ 26,536 $ 116,361 $ (225,415) $ 113,017
71 Comcast 2008 Annual Report on Form 10-K