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As of December 31, 2011 and 2010, accrued interest on our debt was $612 million and $524 million,
respectively, which is included in accrued expenses and other current liabilities.
As of the close of the NBCUniversal transaction on January 28, 2011, we consolidated $9.1 billion of NBCUni-
versal senior debt securities with maturities ranging from 2014 to 2041. We do not guarantee NBCUniversal’s
debt obligations. On July 1, 2011, we consolidated $1.5 billion of long-term debt obligations as a result of the
Universal Orlando transaction. In accordance with acquisition accounting, these debt securities were
recorded at fair value as of the respective acquisition dates. Borrowings under the NBCUniversal revolving
credit facility, along with cash on hand at Universal Orlando, were used to terminate Universal Orlando’s exist-
ing $801 million term loan immediately following the acquisition. In addition, on August 1, 2011, Universal
Orlando redeemed $140 million aggregate principal amount of its 8.875% senior notes due 2015 and $79
million aggregate principal amount of its 10.875% senior subordinated notes due 2016. As of December 31,
2011, the carrying value on our consolidated balance sheet of Universal Orlando’s senior notes and senior
subordinated notes was $418 million.
Debt Maturities
December 31, 2011 (in millions)
2012 $ 1,367
2013 $ 2,411
2014 $ 1,992
2015 $ 3,660
2016 $ 2,951
Thereafter $ 26,928
Debt Repayments and Repurchases
Year ended December 31, 2011 (in millions)
Comcast 6.75% notes due 2011 $ 1,000
Comcast 5.5% notes due 2011 750
Universal Orlando term loan 801
Comcast 7% notes due 2055 345
Universal Orlando 8.875% notes due 2015 140
Universal Orlando 10.875% notes due 2016 79
Other 101
Total $ 3,216
During the first quarter of 2012, we plan to redeem $563 million principal amount of our $1.1 billion aggregate
principal amount of 7% senior notes due 2055.
Debt Instruments
Commercial Paper Programs
Our commercial paper programs provide a lower cost source of borrowing to fund our short-term working
capital requirements and are supported by our revolving credit facilities. Comcast has a maximum borrowing
capacity of $2.25 billion and NBCUniversal has a maximum borrowing capacity of $1.5 billion. As of
December 31, 2011, NBCUniversal had $550 million face amount of commercial paper outstanding. The
proceeds from NBCUniversal’s issuances of commercial paper, along with cash from operations, were used
to repay the borrowings under the NBCUniversal revolving credit facility and fund NBCUniversal’s short-term
working capital requirements.
101 Comcast 2011 Annual Report on Form 10-K