Comcast 2010 Annual Report Download - page 92

Table of Contents
81
Comcast 2010 Annual Report on Form 10-
K
Note 17: Statement of Cash Flows
—
Supplemental
Information
Noncash Financing and Investing Activities
During 2010, we:
During 2009, we:
During 2008, we:
Year ended December 31
(in millions)
2010
2009
2008
Interest
$
1,983
$
2,040
$
2,256
Income taxes
$
1,864
$
1,303
$
762
•
recorded a liability of approximately $263 million for a
quarterly cash dividend of $0.0945 per common share paid
in January 2011, which is a noncash financing activity
•
acquired approximately $611 million of property and
equipment and software that were accrued but unpaid,
which is a noncash investing activity
•
recorded a liability of approximately $268 million for a
quarterly cash dividend of $0.0945 per common share paid
in January 2010, which is a noncash financing activity
•
acquired approximately $389 million of property and
equipment and software that were accrued but unpaid,
which is a noncash investing activity
•
exchanged our 50% interest in the Insight asset pool for
Insight’
s 50% interest in the Comcast asset pool, which is a
noncash investing activity
•
recorded a liability of approximately $180 million for a
quarterly cash dividend of $0.0625 per common share paid
in January 2009, which is a noncash financing activity
•
acquired approximately $559 million of property and
equipment and software that were accrued but unpaid,
which is a noncash investing activity
•
issued an interest in a consolidated entity with a value of
approximately $145 million in exchange for certain
programming rights, which is a noncash investing activity
Note 18: Commitments and Contingencies
Commitments
Our programming networks have entered into license
agreements for programs and sporting events that are
available for telecast. In addition, we, through Comcast
Spectacor, have employment agreements with both players
and coaches of our professional sports teams. Certain of
these employment agreements, which provide for payments
that are guaranteed regardless of employee injury or
termination, are covered by disability insurance if certain
conditions are met.
One of our subsidiaries supported debt compliance with
respect to obligations of a cable system in which we held an
ownership interest. We sold our interest in this cable system
during 2010 and no longer have this obligation.
The table below summarizes our minimum annual
commitments under the programming license agreements of
our programming networks and regional sports networks and
our minimum annual rental commitments for office space,
equipment and transponder service agreements under
operating leases.
The table below presents our rental expense and
programming license expense charged to operations.
Contingencies
We and the minority owner group in Comcast Spectacor each
have the right to initiate an exit process under which the fair
market value of Comcast Spectacor would be determined by
appraisal. Following such determination, we would have the
option to acquire the 24.3% interest in Comcast Spectacor
owned by the minority owner group based on the appraised
fair market value. In the event we do not exercise this option,
we and the minority owner group would then be required to
use our best efforts to sell Comcast Spectacor.
As of December 31, 2010 (in millions)
Programming
License
Agreements
Operating
Leases
2011
$
634
$
324
2012
$
597
$
261
2013
$
610
$
225
2014
$
608
$
195
2015
$
602
$
172
Thereafter
$
5,734
$
829
Year ended December 31 (in millions)
2010
2009
2008
Rental expense
$
424
$
418
$
436
Programming license
expense
$
731
$
671
$
548