Comcast 2010 Annual Report Download - page 100

Table of Contents
Note 22: Condensed Consolidating Financial Information
Comcast Corporation and four of our 100% 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.”
Comcast Corporation provides an unconditional subordinated guarantee of the $185 million principal amount currently outstanding
of Comcast Holdings’ ZONES due October 2029 and the $202 million principal amount currently outstanding of Comcast Holdings’
10 /
% senior subordinated debentures due 2012. Comcast Corporation does not guarantee the $62 million principal amount
currently outstanding of Comcast Holdings’
ZONES due November 2029. Our condensed consolidating financial information is
presented in the tables below.
Condensed Consolidating Balance Sheet
December 31, 2010
(in millions)
Comcast
Parent
CCCL
Parent
Combined
CCHMO
Parents
Comcast
Holdings
Non
-
Guarantor
Subsidiaries
Elimination
and
Consolidation
Adjustments
Consolidated
Comcast
Corporation
Assets
Cash and cash equivalents
$
—
$
—
$
—
$
—
$
5,984
$
—
$
5,984
Investments — — — —
81
—
81
Accounts receivable, net — — — —
1,855
—
1,855
Other current assets
162
— — —
804
—
966
Total current assets
162
— — —
8,724
—
8,886
Investments
— — — —
6,670
—
6,670
Investments in and amounts due from subsidiaries eliminated
upon consolidation
68,987
90,076
52,652
72,629
12,339
(296,683
)
—
Property and equipment, net
278
— — —
23,237
—
23,515
Franchise rights — — — —
59,442
—
59,442
Goodwill — — — —
14,958
—
14,958
Other intangible assets, net
10
— — —
3,592
—
3,602
Other noncurrent assets, net
1,128
45
—
148
959
(819
)
1,461
Total assets
$
70,565
$
90,121
$
52,652
$
72,777
$
129,921
$
(297,502
)
$
118,534
Liabilities and Equity
Accounts payable and accrued expenses related
to trade creditors
$
6
$
3
$
—
$
—
$
3,282
$
—
$
3,291
Accrued expenses and other current liabilities
1,038
187
74
266
1,578
—
3,143
Current portion of long-term debt
755
1,000
— —
45
—
1,800
Total current liabilities
1,799
1,190
74
266
4,905
—
8,234
Long-term debt, less current portion
22,754
3,963
2,339
310
249
—
29,615
Deferred income taxes — — —
704
28,218
(676
)
28,246
Other noncurrent liabilities
1,658
— — —
6,347
(143
)
7,862
Redeemable noncontrolling interests — — — —
143
—
143
Equity:
Common stock
32
— — — — —
32
Other shareholders’ equity
44,322
84,968
50,239
71,497
89,979
(296,683
)
44,322
Total Comcast Corporation shareholders’ equity
44,354
84,968
50,239
71,497
89,979
(296,683
)
44,354
Noncontrolling interests — — — —
80
—
80
Total equity
44,354
84,968
50,239
71,497
90,059
(296,683
)
44,434
Total liabilities and equity
$
70,565
$
90,121
$
52,652
$
72,777
$
129,921
$
(297,502
)
$
118,534
Comcast 2010 Annual Report on Form 10-K
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