Comcast 2010 Annual Report Download - page 97

Table of Contents
Note 20: Quarterly Financial Information (Unaudited)
(h)
To measure the performance of our operating segments, we use operating income (loss) before depreciation and amortization, excluding impairments related to fixed and
intangible assets, and gains or losses from the sale of assets, if any. This measure eliminates the significant level of noncash depreciation and amortization expense that
results from the capital-
intensive nature of our businesses and from intangible assets recognized in business combinations. It is also unaffected by our capital structure or
investment activities. We use this measure to evaluate our consolidated operating performance, the operating performance of our operating segments, and to allocate
resources and capital to our operating segments. It is also a significant performance measure in our annual incentive compensation programs. We believe that this
measure is useful to investors because it is one of the bases for comparing our operating performance with other companies in our industries, although our measure may
not be directly comparable to similar measures used by other companies. This measure should not be considered a substitute for operating income (loss), net income
(loss) attributable to Comcast Corporation, net cash provided by operating activities or other measures of performance or liquidity reported in accordance with GAAP.
(i)
The 2009 and 2008 Cable segment and Corporate and Other amounts have been adjusted for segment reclassifications to be consistent with our 2010 management
reporting presentation. The adjustments resulted in the reclassification of revenue, operating income (loss) before depreciation and amortization, depreciation and
amortization, and operating income from Corporate and Other to our Cable segment for the amounts presented below.
Year ended December 31 (in millions)
2009
2008
Revenue
$
10
$
12
Operating income (loss) before depreciation and amortization
$
(8
)
$
(7
)
Depreciation and amortization
$
12
$
12
Operating income (loss)
$
(20
)
$
(19
)
(in millions, except per share data)
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Total
Year
2010
Revenue
$
9,202
$
9,525
$
9,489
$
9,721
$
37,937
Operating income
$
1,935
$
2,078
$
1,954
$
2,013
$
7,980
Net income attributable to Comcast Corporation
$
866
$
884
$
867
$
1,018
$
3,635
Basic earnings per common share attributable to Comcast
Corporation shareholders
$
0.31
$
0.31
$
0.31
$
0.37
$
1.29
Diluted earnings per common share attributable to Comcast
Corporation shareholders
$
0.31
$
0.31
$
0.31
$
0.36
$
1.29
Dividends declared per common share attributable to Comcast
Corporation shareholders
$
0.0945
$
0.0945
$
0.0945
$
0.0945
$
0.378
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
85
Comcast 2010 Annual Report on Form 10-
K