Comcast 2010 Annual Report Download - page 54

Table of Contents
Comcast 2010 Annual Report on Form 10-K
48
amounts due to third parties under these arrangements are
accounted for as participations and residual liabilities.
GE Redemption Rights
In connection with the terms of the NBCUniversal Holdings
operating agreement, during the six month period beginning
July 28, 2014, GE has the right to cause NBCUniversal
Holdings to redeem half of GE’s interest in NBCUniversal
Holdings, and during the six month period beginning January
28, 2018, GE has the right to cause NBCUniversal Holdings
to redeem GE’s remaining interest, if any. Subject to various
limitations, we are committed to fund up to $2.875 billion in
cash or our common stock for each of the two redemptions
(for an aggregate of up to $5.75 billion, with amounts not
used in the first redemption to be available for the second
redemption) to the extent NBCUniversal Holdings cannot
fund the redemptions. None of these amounts are included in
either of the tables above. See “NBCUniversal Transaction”
under “Introduction and Overview” for additional details.
Off
-
Balance Sheet Arrangements
As of December 31, 2010, we did not have any significant off
-
balance sheet arrangements that are reasonably likely to
have a current or future effect on our financial condition,
results of operations, liquidity, capital expenditures or capital
resources.
NBCUniversal Trade Receivables Monetization
As of December 31, 2010, NBCUniversal monetized its trade
accounts receivable through two programs established with
GE and various GE subsidiaries. Through these programs,
NBCUniversal retained limited interests in the assets sold
and provided reserves for all expected losses with respect to
these interests. As a result of the NBCUniversal transaction,
NBCUniversal has terminated its existing programs and has
since established new third party monetization programs with
a syndicate of banks, of which the primary relationship is with
General Electric Capital Corporation, a subsidiary of GE, and
another third-party bank.