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Table of Contents
Note 12: Postretirement, Pension and Other Employee Benefit Plans
2009
2008
2007
Year ended December 31 (in millions)
Postretirement
Benefits
Pension
Benefits
Postretirement
Benefits
Pension
Benefits
Postretirement
Benefits
Pension
Benefits
Benefit obligation
$
360
$
184
$
338
$
181
$
280
$
179
Fair value of plan assets
$
—
$
176
$
—
$
152
$
—
$
157
Plan funded status and recorded benefit
obligation
$
(360
)
$
(8
)
$
(338
)
$
(29
)
$
(280
)
$
(22
)
Portion of benefit obligation not yet
recognized in benefits expense
$
(36
)
$
46
$
(18
)
$
67
$
(39
)
$
1
Benefits expense
$
45
$
2
$
36
$
1
$
34
$
4
Discount rate
6.05
%
5.75
%
6.15
%
6.00
%
6.65
%
6.25
%
Expected return on plan assets
N/A
8.00
%
N/A
8.00
%
N/A
8.00
%
59
Comcast 2009 Annual Report on Form 10-
K
Note 11: Noncontrolling Interests
Certain of our subsidiaries that we consolidate are not wholly
owned. Some of the agreements with the minority partners of
these subsidiaries contain redemption features whereby
interests held by the minority partners are redeemable either
(i) at the option of the holder or (ii) upon the occurrence of an
event that is not solely within our control. If interests were to
be redeemed under these agreements, we would generally
be required to purchase the interest at fair value on the date
of redemption. These interests are presented on the balance
sheet outside of equity under the caption “Redeemable
noncontrolling interests.” Noncontrolling interests that do not
contain such redemption features are presented in equity.
In 2009, we acquired all of the noncontrolling interest of one
of our technology ventures, which had a carrying value of
approximately $35 million, for approximately $5 million and
rights to existing intellectual property. The difference between
the amount paid and the carrying value of the noncontrolling
interest resulted in an increase of approximately $30 million
to additional paid-in capital of Comcast Corporation.
Also in 2009, through a series of transactions, we acquired all
of the noncontrolling interest of one of our regional sports
networks, which had a carrying value of approximately $4
million, for approximately $73 million. The difference between
the amount paid and the carrying value of the noncontrolling
interests resulted in a decrease of approximately $69 million
to additional paid-in capital of Comcast Corporation.
The table below presents the changes in equity resulting from
net income attributable to Comcast Corporation and transfers
to or from noncontrolling interests.
Year ended December 31, 2009 (in millions)
Net income attributable to Comcast
Corporation
$
3,638
Transfers from (to) noncontrolling interests:
Increase in Comcast Corporation additional
paid-in capital resulting from the
purchase of noncontrolling interest
30
Decrease in Comcast Corporation additional
paid-in capital resulting from the
purchase of noncontrolling interest
(69
)
Changes from net income attributable to
Comcast Corporation and transfers from (to)
noncontrolling interests
$
3,599