Comcast 2011 Annual Report Download - page 109

million in our Cable Networks segment representing the amount of excess of a reporting unit’s carrying
amount of goodwill over its implied fair value, which was determined using Level 3 measures.
Note 12: Noncontrolling Interests
Certain of the subsidiaries that we consolidate are not wholly owned. Some of the agreements with the minor-
ity partners of these subsidiaries contain redemption features whereby interests held by the minority partners
are redeemable either (i) at the option of the holder or (ii) upon the occurrence of an event that is not solely
within our control. If interests were to be redeemed under these agreements, we would generally be required
to purchase the interest at fair value on the date of redemption. These interests are presented on the balance
sheet outside of equity under the caption “Redeemable noncontrolling interests.” Noncontrolling interests that
do not contain such redemption features are presented in equity.
In connection with the NBCUniversal transaction in January 2011, GE obtained a 49% indirect noncontrolling
interest in the Comcast Content Business in exchange for a portion of our interest in NBCUniversal Holdings.
The difference between the fair value of the interest we received and the historical carrying value of the non-
controlling interest in the Comcast Content Business resulted in an increase of $1.7 billion, net of taxes, to
additional paid-in capital of Comcast Corporation.
GE’s 49% interest in NBCUniversal Holdings is recorded as a redeemable noncontrolling interest in our con-
solidated financial statements due to the redemption provisions discussed in Note 4. The initial value for the
redeemable noncontrolling interest was based on the fair value for the portion attributable to the net assets of
the NBCUniversal businesses we acquired and our historical cost for the portion attributable to the Comcast
Content Business. We adjust GE’s redeemable noncontrolling interest for its 49% interest in NBCUniversal
Holdings’ and NBCUniversal’s earnings and changes in other comprehensive income, as well as for other
capital transactions attributable to GE. The carrying amount of GE’s redeemable noncontrolling interest was
in excess of the redemption value as of December 31, 2011.
The table below presents the changes in equity resulting from net income attributable to Comcast Corpo-
ration and transfers to or from noncontrolling interests.
Year ended December 31 (in millions) 2011 2010
Net income attributable to Comcast Corporation $ 4,160 $ 3,635
Transfers from (to) noncontrolling interests:
Increase in Comcast Corporation additional paid-in capital resulting from the issuance of
noncontrolling equity interest 1,650 —
Increase in Comcast Corporation additional paid-in capital resulting from the purchase of
noncontrolling interest —11
Changes in equity resulting from net income attributable to Comcast Corporation and transfers
from (to) noncontrolling interests $ 5,810 $ 3,646
Note 13: Postretirement, Pension and Other Employee Benefit Plans
Postretirement Benefit Plans
The Comcast Postretirement Healthcare Stipend Program (the “stipend plan”) covers substantially all of our
employees, other than those of NBCUniversal, who meet certain age and service requirements. The stipend
plan provides an annual stipend for reimbursement of healthcare costs to each eligible employee based on
years of service. Under the stipend plan, we are not exposed to the increasing costs of healthcare because
107 Comcast 2011 Annual Report on Form 10-K