Comcast 2011 Annual Report Download - page 93

Download and view the complete annual report

Please find page 93 of the 2011 Comcast annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 148

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148

Note 3: Earnings Per Share
Basic earnings per common share attributable to Comcast Corporation shareholders (“basic EPS”) is com-
puted by dividing net income attributable to Comcast Corporation by the weighted-average number of
common shares outstanding during the period.
Our potentially dilutive securities include potential common shares related to our stock options and our RSUs.
Diluted earnings per common share attributable to Comcast Corporation shareholders (“diluted EPS”) consid-
ers the impact of potentially dilutive securities using the treasury stock method. Diluted EPS excludes the
impact of potential common shares related to our stock options in periods in which the option exercise price
is greater than the average market price of our Class A common stock or our Class A Special common stock,
as applicable.
Diluted EPS for 2011, 2010 and 2009 excludes approximately 45 million, 168 million and 195 million,
respectively, of potential common shares related to our share-based compensation plans, because the
inclusion of the potential common shares would have had an antidilutive effect.
Computation of Diluted EPS
2011 2010 2009
Year ended December 31 (in millions,
except per share data)
Net Income
Attributable
to Comcast
Corporation Shares
Per Share
Amount
Net Income
Attributable
to Comcast
Corporation Shares
Per Share
Amount
Net Income
Attributable
to Comcast
Corporation Shares
Per Share
Amount
Basic EPS attributable to
Comcast Corporation
shareholders $ 4,160 2,746 $ 1.51 $ 3,635 2,808 $ 1.29 $ 3,638 2,875 $ 1.27
Effect of dilutive securities:
Assumed exercise or issuance
of shares relating to stock
plans 32 12 10
Diluted EPS attributable to
Comcast Corporation
shareholders $ 4,160 2,778 $ 1.50 $ 3,635 2,820 $ 1.29 $ 3,638 2,885 $ 1.26
Note 4: Acquisitions and Other Significant Events
2011
NBCUniversal Transaction
On January 28, 2011, we closed our transaction with GE to form a new company named NBCUniversal, LLC
(“NBCUniversal Holdings”). We now control and own 51% of NBCUniversal Holdings, and GE owns the
remaining 49%. As part of the NBCUniversal transaction, GE contributed the businesses of NBCUniversal,
which is now a wholly owned subsidiary of NBCUniversal Holdings. The NBCUniversal businesses that were
contributed included its national cable networks, the NBC and Telemundo broadcast networks and its NBC
and Telemundo owned local television stations, Universal Pictures, the Universal Studios Hollywood theme
park, and other related assets. We contributed our national cable networks, our regional sports and news
networks, certain of our Internet businesses, including DailyCandy and Fandango, and other related assets
(the “Comcast Content Business”). In addition to contributing the Comcast Content Business, we also made
91 Comcast 2011 Annual Report on Form 10-K