Comcast 2009 Annual Report Download - page 40

Table of Contents
Contractual Obligations
Refer to Note 9 (long-term debt) and Note 17 (commitments) to our consolidated financial statements.
Payments Due by Period
(in millions)
Total
Year 1
Years
2-
3
Years
4-
5
More
than 5
Debt obligations
$
29,039
$
1,137
$
2,620
$
3,536
$
21,746
Capital lease obligations
57
19
21
5
12
Operating lease obligations
1,879
333
471
332
743
Purchase obligations
16,705
3,275
4,322
2,396
6,712
Other long
-
term liabilities reflected on the balance sheet:
Acquisition
-
related obligations
83
70
10
3
—
Other long
-
term obligations
4,964
271
664
1,844
2,185
Total
$
52,727
$
5,105
$
8,108
$
8,116
$
31,398
(a)
Excludes interest payments.
(b)
Purchase obligations consist of agreements to purchase goods and services that are legally binding on us and specify all significant terms, including fixed or minimum
quantities to be purchased and price provisions. Our purchase obligations are primarily related to our Cable segment, including contracts with programming networks,
CPE 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 obligations through Comcast Spectacor for the players and coaches of our professional sports teams. Purchase obligations
do not include contracts with immaterial future commitments.
(c)
Acquisition-related obligations consist primarily of costs related to exiting contractual obligations and other assumed contractual obligations of the acquired entity.
(d)
Other long-
term obligations consist primarily of prepaid forward sale agreements of equity securities we hold; subsidiary preferred shares; deferred compensation
obligations; pension, post-retirement and post-
employment benefit obligations; and programming rights payable under license agreements. Reserves for uncertain tax
positions of approximately $1.2 billion are not included in the table above. The liability for unrecognized tax benefits has been excluded because we cannot make a
reliable estimate of the period in which the unrecognized tax benefits will be realized.
Comcast 2009 Annual Report on Form 10-K
32
and 2008, we made $1.616 billion and $307 million,
respectively, of optional purchases of our outstanding public
bonds and ZONES debt. See Note 9 to our consolidated
financial statements for further discussion of our financing
activities, including details of our debt repayments and
borrowings.
Share Repurchases and Dividends
In 2009, we repurchased approximately 49.8 million shares of
our Class A and Class A Special common stock under our
share repurchase authorization for approximately $765
million. As of December 31, 2009, we had approximately $3.3
billion of availability remaining under our share repurchase
authorization. We intend to complete repurchases under the
current share repurchase authorization by the end of 2012,
subject to market conditions.
Our Board of Directors declared quarterly dividends of $850
million in 2009. Dividends paid in 2009 were $761 million. In
December 2009, our Board of Directors increased the
planned annual dividend by 40% to $0.378 per share, with
the first quarterly payment of $0.0945 per share occurring in
January 2010. We expect to continue to pay quarterly
dividends, although each dividend is subject to approval by
our Board of Directors.
The table below sets for information on our share
repurchases and dividends paid in 2009, 2008 and 2007.
(a)
(b)
(c)
(d)