Comcast 2009 Annual Report Download - page 79

Download and view the complete annual report

Please find page 79 of the 2009 Comcast annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 231

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204
  • 205
  • 206
  • 207
  • 208
  • 209
  • 210
  • 211
  • 212
  • 213
  • 214
  • 215
  • 216
  • 217
  • 218
  • 219
  • 220
  • 221
  • 222
  • 223
  • 224
  • 225
  • 226
  • 227
  • 228
  • 229
  • 230
  • 231

Table of Contents
Note 19: Quarterly Financial Information (Unaudited)
(a) Reclassifications have been made to prior years to conform to classifications used in 2009.
Note 20: Condensed Consolidating Financial Information
Comcast Corporation and four of our wholly owned cable holding company subsidiaries, Comcast Cable Communications, LLC
(“CCCL”), 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.”
On August 31, 2009, we merged our wholly owned subsidiary, Comcast Cable Communications Holdings, Inc. (“CCCH”),
a
guarantor prior to the merger, with and into CCCL. Accordingly, the financial information for the CCCL parent reflects both the
former CCCH parent and the CCCL parent for all periods presented.
Comcast Corporation provides an unconditional subordinated guarantee of $211 million principal amount currently outstanding of
Comcast Holdings’ ZONES due October 2029 and $202 million principal amount currently outstanding of Comcast Holdings’ 10
/
% senior subordinated debentures due 2012. Comcast Corporation does not guarantee the $71 million principal amount
outstanding of Comcast Holdings’ ZONES due November 2029. We have included Comcast Holdings’
condensed consolidated
financial information for all periods presented. Our condensed consolidating financial information is presented in the tables below.
(in millions, except per share data)
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Total
Year
2009
Revenue
$
8,866
$
8,978
$
8,845
$
9,067
$
35,756
Operating income
$
1,811
$
1,875
$
1,711
$
1,817
$
7,214
Net income attributable to Comcast Corporation
$
772
$
967
$
944
$
955
$
3,638
Basic earnings per common share attributable to Comcast Corporation
shareholders
$
0.27
$
0.33
$
0.33
$
0.33
$
1.27
Diluted earnings per common share attributable to Comcast
Corporation shareholders
$
0.27
$
0.33
$
0.33
$
0.33
$
1.26
Dividends declared per common share attributable to Comcast
Corporation shareholders
$
0.0675
$
0.0675
$
0.0675
$
0.0945
$
0.297
2008
Revenue
$
8,423
$
8,597
$
8,592
$
8,811
$
34,423
Operating income
$
1,555
$
1,750
$
1,670
$
1,757
$
6,732
Net income attributable to Comcast Corporation
$
732
$
632
$
771
$
412
$
2,547
Basic earnings per common share attributable to Comcast Corporation
shareholders
$
0.24
$
0.21
$
0.26
$
0.14
$
0.87
Diluted earnings per common share attributable to Comcast
Corporation shareholders
$
0.24
$
0.21
$
0.26
$
0.14
$
0.86
Dividends declared per common share attributable to Comcast
Corporation shareholders
$
0.0625
$
0.0625
$
0.0625
$
0.0625
$
0.250
Comcast 2009 Annual Report on Form 10-K
70
(a)
(a)
5
8