Comcast 2011 Annual Report Download - page 95

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Consideration Transferred
(in millions)
Cash $ 6,120
Fair value of 49% of the Comcast Content Business 4,308
Fair value of contingent consideration 590
Fair value of redeemable noncontrolling interest associated with net assets acquired 13,071
$ 24,089
Allocation of Purchase Price
(in millions)
Film and television costs (see Note 5) $ 5,049
Investments (see Note 6) 4,339
Property and equipment (see Note 7) 2,322
Intangible assets (see Note 8) 14,585
Working capital (1,734)
Long-term debt (see Note 9) (9,115)
Deferred income tax liabilities (35)
Other noncurrent assets and liabilities (2,005)
Noncontrolling interests acquired (262)
Fair value of identifiable net assets acquired 13,144
Goodwill (see Note 8) 10,945
$ 24,089
Income Taxes
We are responsible for the tax matters of both NBCUniversal Holdings and NBCUniversal, including the filing
of returns and the administering of any proceedings with taxing authorities. See Note 16 for additional
information on the partnership structure of NBCUniversal Holdings and NBCUniversal. GE has indemnified us
and NBCUniversal Holdings for any income tax liability attributable to the NBCUniversal contributed busi-
nesses for periods prior to the acquisition date. We have also indemnified GE and NBCUniversal Holdings for
any income tax liability attributable to the Comcast Content Business for periods prior to the acquisition date.
NBCUniversal recognized net deferred income tax liabilities of $35 million in the allocation of purchase price
related primarily to acquired intangible assets in state and foreign jurisdictions. In addition, Comcast recog-
nized $576 million of deferred tax liabilities in connection with the NBCUniversal transaction. Because we
maintained control of the Comcast Content Business, the excess of fair value received over historical book
value and the related tax impact were recorded to additional paid-in capital.
We agreed to share with GE certain tax benefits as they are realized that relate to the form and structure of
the transaction. These payments to GE are contingent on us realizing tax benefits in the future and are
accounted for as contingent consideration. We have recorded $590 million in other current and noncurrent
liabilities in our acquisition accounting based on the present value of the expected future payments to GE.
93 Comcast 2011 Annual Report on Form 10-K