Comcast 2011 Annual Report Download - page 30

Employees
As of December 31, 2011, we employed approximately 126,000 employees, including part-time employees.
Of these employees, approximately 85,000 were associated with our Cable Communications business and
the remainder were associated with our NBCUniversal and other businesses. We also use freelance and
temporary employees in the normal course of our business.
Caution Concerning Forward-Looking Statements
The SEC encourages companies to disclose forward-looking information so that investors can better under-
stand a company’s future prospects and make informed investment decisions. In this Annual Report on Form
10-K, we state our beliefs of future events and of our future financial performance, including as a result of the
NBCUniversal transaction. In some cases, you can identify these so-called “forward-looking statements” by
words such as “may,” “will,” “should,” “expects,” “believes,” “estimates,” “potential,” or “continue,” or the
negative of these words, and other comparable words. You should be aware that these statements are only
our predictions. In evaluating these statements, you should consider various factors, including the risks and
uncertainties listed in “Risk Factors” and in other reports we file with the SEC.
Additionally, we operate in a highly competitive, consumer-driven and rapidly changing environment. The
environment is affected by government regulation; economic, strategic, political and social conditions; con-
sumer response to new and existing products and services; technological developments; and, particularly in
view of new technologies, the ability to develop and protect intellectual property rights. Our actual results
could differ materially from our forward-looking statements or as a result of any of such factors, which could
adversely affect our business, results of operations or financial condition. We undertake no obligation to
update any forward-looking statements.
Item 1A: Risk Factors
Our businesses currently face a wide range of competition, and our business and results of operations
could be adversely affected if we do not compete effectively.
All of our businesses operate in intensely competitive industries and compete with a growing number of
companies that provide a broad range of entertainment, information and communication products and serv-
ices to consumers. Moreover, in recent years, Congress and various states have enacted legislation and the
FCC has adopted regulatory policies that have had the effect of providing a more favorable operating
environment for some of our existing and potential new competitors.
While competition for the cable services we offer consists primarily of DBS operators and phone companies,
we also directly compete against other providers of traditional cable services, including SMATV systems and
companies that build competing cable systems in the same communities that we serve, as well as other
companies that offer programming and other communications services, including high-speed Internet and
phone services, to our customers and potential customers. These companies typically offer features, pricing
and packaging for services comparable to our cable services. Furthermore, we began offering Verizon Wire-
less’ products and services in addition to our cable services in certain of our service areas in 2012, some of
our phone company competitors, including Verizon, have their own wireless facilities, which we do not have,
and have expanded or may expand their cable service offerings to include bundled wireless offerings, which
may adversely affect our business and results of operations. Technological changes are further intensifying
and complicating the competitive landscape, as companies continue to emerge that offer services or devices
that enable Internet video streaming and downloading of movies, television shows and other video program-
Comcast 2011 Annual Report on Form 10-K 28