Comcast 2011 Annual Report Download - page 122

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Effect on Income from Receivables Monetization and Cash Flows on Transfers
Year ended December 31 (in millions) 2011
Net (loss) gain on sale(a) $ (36)
Net cash proceeds (payments) on transfers(b) $ (237)
(a) Net (loss) gain on sale is included in other income (expense), net in our consolidated statement of income.
(b) Net cash proceeds (payments) on transfers are included within net cash provided by operating activities in our consolidated statement of
cash flows.
Receivables Monetized and Deferred Consideration
December 31 (in millions) 2011
Monetized receivables sold $ 961
Deferred consideration $ 268
In addition to the amounts presented above, we had $781 million payable to our securitization programs as of
December 31, 2011. This amount represents cash receipts that are not yet remitted to the securitization
program as of the balance sheet date and is recorded to accounts payable and accrued expenses related to
trade creditors.
Note 19: Commitments and Contingencies
Commitments
NBCUniversal enters into long-term commitments with third parties in the ordinary course of its business,
including commitments to acquire film and television programming, take or pay creative talent and employ-
ment agreements, and various other television commitments. Many of NBCUniversal’s employees, including
writers, directors, actors, technical and production personnel, and others, as well as some of its on-air and
creative talent, are covered by collective bargaining agreements or works councils. As of December 31, 2011,
the total number of NBCUniversal employees on its payroll covered by collective bargaining agreements was
approximately 4,000 full-time equivalent employees. Of this total, approximately 46% of these full-time equiv-
alent employees were covered by collective bargaining agreements that have expired or are scheduled to
expire during 2012.
We, through Comcast Spectacor, have employment agreements with both players and coaches of the Phila-
delphia Flyers. 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.
The table below summarizes our minimum annual programming and talent commitments and our minimum
annual rental commitments for office space, equipment and transponder service agreements under operating
leases. Programming and talent commitments include acquired film and television programming, including
U.S. television rights to the future Olympic Games through 2020, NBC’s Sunday Night Football through the
2022-23 season, and other programming commitments, as well as our various contracts with creative talent
and employment agreements under take-or-pay contracts.
As of December 31, 2011 (in millions)
Programming and
Talent Commitments Operating Leases
2012 $ 4,793 $ 548
2013 $ 2,388 $ 448
2014 $ 2,887 $ 388
2015 $ 1,976 $ 333
2016 $ 3,104 $ 320
Thereafter $ 17,301 $ 1,410
Comcast 2011 Annual Report on Form 10-K 120