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COMCAST CORP
FORM 10-K
(Annual Report)
Filed 02/21/13 for the Period Ending 12/31/12
CIK 0001166691
Symbol CMCSA
SIC Code 4841 - Cable and Other Pay Television Services
Industry Broadcasting & Cable TV
Sector Services
Fiscal Year 12/31
http://www.edgar-online.com
© Copyright 2013, EDGAR Online, Inc. All Rights Reserved.
Distribution and use of this document restricted under EDGAR Online, Inc. Terms of Use.

Table of contents

  • Page 1
    COMCAST CORP FORM 10-K (Annual Report) Filed 02/21/13 for the Period Ending 12/31/12 CIK Symbol SIC Code Industry Sector Fiscal Year 0001166691 CMCSA 4841 - Cable and Other Pay Television Services Broadcasting & Cable TV Services 12/31 http://www.edgar-online.com © Copyright 2013, EDGAR Online...

  • Page 2
    ... Code) One Comcast Center, Philadelphia, PA (Address of principal executive offices) Registrant's telephone number, including area code: (215) 286-1700 SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT: Title of Each Class Class A Common Stock, $0.01 par value Class A Special Common Stock...

  • Page 3
    ... and Related Transactions, and Director Independence Item 14 Principal Accountant Fees and Services PART IV Item 15 Exhibits and Financial Statement Schedules Signatures 40 43 44 70 73 127 127 127 128 129 129 129 129 130 135 This Annual Report on Form 10-K is for the year ended December 31, 2012...

  • Page 4
    ... Note 19 to our consolidated financial statements included in this Annual Report on Form 10-K. Available Information and Websites Our phone number is (215) 286-1700, and our principal executive offices are located at One Comcast Center, Philadelphia, PA 19103-2838. The public may read and copy any...

  • Page 5
    ...After closing, we will control and consolidate HoldCo and own all of its capital stock other than the preferred stock. HoldCo's debt securities and credit facility will be guaranteed by us and the cable holding company subsidiaries that guarantee our senior indebtedness. The preferred stock will pay...

  • Page 6
    ... broadcast networks, local broadcast stations, and national and regional cable networks, as well as governmental and public access programming. Our digital video services generally include access to our On Demand service and an interactive, on-screen program guide. We also offer packages that...

  • Page 7
    ... and store documents online, hosted voice services using cloud network servers, a business directory listing, and the added capacity for multiple phone lines that meet the needs of our business customers. In 2012, we began increasing the number of services we offer to medium-sized business customers...

  • Page 8
    ...also receive revenue related to our digital media center, commissions from electronic retailing networks, and fees from other newer services, such as our home security and automation services and expanded technical support services. Our cable franchise and regulatory fees represent the fees required...

  • Page 9
    ...our cable distribution system. Sales and Marketing We offer our services directly to residential and business customers through our call centers, door-to-door selling, direct mail advertising, television advertising, Internet advertising, local media advertising, telemarketing and retail outlets. We...

  • Page 10
    ... E! CNBC MSNBC Bravo Golf Channel Oxygen NBC Sports Network Style G4 Chiller CNBC World Cloo Universal HD 99 98 97 97 95 95 84 79 78 76 62 43 35 34 27 General entertainment Imagination-based entertainment Entertainment and pop culture Business and financial news 24 hour news Entertainment, culture...

  • Page 11
    ... these fees to increase in the future as we, as well as our NBC affiliated broadcast television stations, renegotiate distribution agreements with multichannel video providers. NBC Network The NBC network distributes more than 5,000 hours of entertainment, news and sports programming annually, and...

  • Page 12
    ...local television stations, the mun2 cable network and brand-aligned digital media properties. The Telemundo network is a leading Spanish-language broadcast television network featuring original telenovelas, theatrical films, news, specials and sporting events. Telemundo develops original programming...

  • Page 13
    ... our film productions. These arrangements can take various forms, but in most cases involve the grant of an economic interest in a film to an investor. Investors generally assume the full risks and rewards of ownership proportionate to their ownership in the film. Comcast 2012 Annual Report on Form...

  • Page 14
    ... from our film library to cable, broadcast and premium networks, digital distributors and to video-on-demand and pay-perview services. The volume of our content that is made available through digital distributors is increasing as consumers continue to seek alternative ways to view our content...

  • Page 15
    ... and devices have emerged that offer digital distribution of movies, television shows and other video programming, some of which charge a nominal or no fee for access. The success of these new services could negatively impact the demand for our video services, including for our DVR, premium network...

  • Page 16
    ... video programming online and through mobile apps available for smartphones and tablets • video rental services and home video products Some of these competitors offer their services for free or charge a nominal fee for access to their content. High-Speed Internet Services We compete with a number...

  • Page 17
    ... and audience share with all forms of programming provided to viewers, including cable, broadcast and premium networks, local broadcast television stations, home entertainment, pay-per-view and video-on-demand services, online activities, including digital distribution services and websites that...

  • Page 18
    ... business, cable networks, broadcast television networks, and owned local broadcast television stations compete for the sale of advertising time with other television networks and stations, as well as with all other advertising platforms, such as radio stations, print media and websites...

  • Page 19
    ... agreement with the cable operator. Such an agreement may involve payments to the station. We have recently begun paying certain local broadcast television stations in exchange for their required consent for the retransmission of the stations' broadcast programming to our video services customers...

  • Page 20
    ...and costs associated with complying with such regulations. Cable Equipment The FCC has adopted regulations aimed at promoting the retail sale of set-top boxes and other equipment that can be used to receive digital video services. With the exception of certain one-way devices, like digital transport...

  • Page 21
    ... certain additional payments, cable operators can limit the royalty calculation associated with retransmission of an out-of-market broadcast station to those cable subscribers who actually receive the out-of market station. The new law also clarifies that Comcast 2012 Annual Report on Form 10-K 18

  • Page 22
    ... applicable to broadband Internet service providers ("ISPs"). The regulations require broadband ISPs such as us to disclose information regarding network management, performance and commercial terms of the service; bar broadband ISPs from blocking access to lawful content, applications, services...

  • Page 23
    ... of Contents A federal program known as the Universal Service program generally requires telecommunications service providers to collect and pay a fee based on revenue from their services into a fund used to subsidize the provision of telecommunications services in highcost areas and Internet and...

  • Page 24
    ... companies that own multiple cable networks should be required to make each of their networks available to multichannel video providers on a stand-alone or "unbundled" basis when negotiating distribution agreements, although it has not further acted on that 21 Comcast 2012 Annual Report on Form...

  • Page 25
    ...our regional sports networks. In addition, under the NBCUniversal Order and NBCUniversal Consent Decree, we are required to make certain of our cable network, broadcast television and filmed entertainment programming available to bona fide online video distributors under certain conditions, and they...

  • Page 26
    ... control nationally. Under the rule, no entity may have an attributable interest in broadcast television stations that reach, in the aggregate, more than 39% of all U.S. television households. Our owned local television station reach does not exceed this limit. 23 Comcast 2012 Annual Report on Form...

  • Page 27
    ...of our owned local broadcast television stations. Internet Distribution Under the NBCUniversal Order and NBCUniversal Consent Decree, we are required to make certain of our cable network, broadcast television and filmed entertainment programming available to bona fide online video distributors under...

  • Page 28
    ...in certain areas. Filmed Entertainment Our filmed entertainment business is subject to the provisions of "trade practice laws" in effect in 25 states and Puerto Rico relating to theatrical distribution of motion pictures. These laws substantially restrict the 25 Comcast 2012 Annual Report on Form 10...

  • Page 29
    ... networks, broadcast television and filmed entertainment businesses. The unauthorized reproduction, distribution or display of copyrighted material over the Internet or through other methods of distribution, such as through devices, software or websites that allow the reproduction, viewing, sharing...

  • Page 30
    ... breach notification laws. These laws generally require that a business give notice to its customers whose financial account information has been disclosed because of a security breach. In addition, the FTC is applying the "red flag rules," which are designed to detect the warning signs of identity...

  • Page 31
    ... The FCC actively regulates other aspects of our businesses, including the mandatory blackout of syndicated, network and sports programming; customer service standards; loudness of commercial advertisements; political advertising; Emergency Alert System requirements; equal employment opportunity...

  • Page 32
    ...-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, while we began offering Verizon Wireless's products and services in addition to our cable services...

  • Page 33
    ... in ways that affect how content is viewed as consumers seek more control over when, where and how they consume content, which may have a negative impact on our business and results of operations. For example, the increased availability of DVRs, video-on-demand Comcast 2012 Annual Report on Form 10...

  • Page 34
    ... expenses. We have begun paying certain local broadcast television stations in exchange for their required consent for the retransmission of broadcast network programming to our video services customers and expect to continue to be subject to increasing demands for payment and other concessions from...

  • Page 35
    ... cost competitive services, such as Internet video streaming, or substitute services, such as wireless Internet devices and smartphones. Weak economic conditions also may have a negative impact on the advertising revenue of our cable communications, cable networks and broadcast television businesses...

  • Page 36
    ... our competitors offer may require that we offer certain of our existing services or enhancements at a lower or no cost to our customers or that we make additional research and development expenditures, which could have an adverse effect on our businesses. 33 Comcast 2012 Annual Report on Form 10-K

  • Page 37
    ... to our network management, customer service operations and programming delivery, are critical to our business activities. Network and information systems-related events, such as computer hackings, cyber attacks, computer viruses, worms or other destructive or disruptive software, process breakdowns...

  • Page 38
    ... challenges for our cable networks, broadcast television and filmed entertainment businesses. While piracy is a challenge in the United States, it is particularly prevalent in many parts of the world that lack developed copyright laws, effective enforcement of copyright laws and technical protective...

  • Page 39
    ...business internationally, including the current European debt crisis and other global financial market turmoil, economic volatility and the global economic slowdown, currency exchange rate fluctuations and inflationary pressures, the requirements of local laws and customs relating to the publication...

  • Page 40
    ..., our chairman and CEO, beneficially owns all of the outstanding shares of our Class B common stock and, accordingly, has considerable influence over our company and the ability to transfer potential effective control by selling the Class B common stock. 37 Comcast 2012 Annual Report on Form 10-K

  • Page 41
    ...assets were in good operating condition as of December 31, 2012. Our corporate headquarters and Cable Communications segment headquarters are located in Philadelphia, PA at One Comcast Center, a leased facility. We also lease locations for numerous business offices, warehouses and properties housing...

  • Page 42
    ... The Wells Fargo Center, a large, multipurpose arena that we own, was the principal physical operating asset of our other businesses as of December 31, 2012. Item 3: Legal Proceedings Refer to Note 18 to our consolidated financial statements included in this Annual Report on Form 10-K. In addition...

  • Page 43
    ... and Class B common stock vote as one class except where class voting is required by law. Record holders as of December 31, 2012, are presented in the table below. Stock Class Record Holders Class A Common Stock Class A Special Common Stock Class B Common Stock Comcast 2012 Annual Report on Form 10...

  • Page 44
    ... number of shares purchased during 2012 includes 880,634 shares received in the administration of employee share-based compensation plans. Common Stock Sales Price Table The following table sets forth, for the indicated periods, the high and low sales prices of our Class A and Class A Special common...

  • Page 45
    ... and Class A Special common stock), as well as Cablevision Systems Corporation (Class A), DISH Network Corporation, DirecTV Inc. and Time Warner Cable Inc. (the "cable subgroup"), and Time Warner Inc., Walt Disney Company, Viacom Inc. (Class B), News Corporation (Class A), and CBS Corporation (Class...

  • Page 46
    ... to Management's Discussion and Analysis of Financial Condition and Results of Operations included in this Annual Report on Form 10-K for a discussion of the effects of items impacting net income attributable to Comcast Corporation. In 2012 and 2011, net income attributable to Comcast Corporation is...

  • Page 47
    ...and features they receive and the type of equipment they use. Residential customers may generally discontinue service at any time, while business customers may only discontinue service in accordance with the terms of their contracts, which typically have 2 to 5 year terms. Comcast 2012 Annual Report...

  • Page 48
    ... sports networks (Golf Channel and NBC Sports Network); our regional sports and news networks; our international cable networks (including CNBC Europe, CNBC Asia and our Universal Networks International portfolio of networks); our cable television production studio; and our related digital media...

  • Page 49
    ...After closing, we will control and consolidate HoldCo and own all of its capital stock other than the preferred stock. HoldCo's debt securities and credit facility will be guaranteed by us and the cable holding company subsidiaries that guarantee our senior indebtedness. The preferred stock will pay...

  • Page 50
    ... and Universal Orlando are included in our consolidated financial statements following their respective acquisition dates. 2012 Consolidated Operating Results by Segment Consolidated Revenue In 2012, our Cable Communications, Broadcast Television and Filmed Entertainment segments accounted for...

  • Page 51
    ... behavior. For example, companies continue to emerge that offer services or devices that enable digital distribution of movies, television shows and other video programming, and wireless services and devices continue to evolve. Moreover, newer services that distribute video programming are also...

  • Page 52
    ... our production costs and the amortization of the related rights fees. All of the revenue and operating costs and expenses associated with our broadcasts of the 2012 London Olympics and the 2012 Super Bowl are reported in our Broadcast Television segment. Revenue in our Filmed Entertainment segment...

  • Page 53
    ... 31, 2011 and 2010, respectively. As of December 31, 2012, 11.5 million customers subscribed to at least one of our HD video or DVR services, compared to 10.9 million customers and 10.1 million customers as of December 31, 2011 and 2010, respectively. Comcast 2012 Annual Report on Form 10-K 50

  • Page 54
    ... in 2011 due to lower political advertising. Other We receive revenue related to cable franchise and other regulatory fees, our digital media center, commissions from electronic retailing networks, and fees from other services. Cable franchise and regulatory fees represent the fees required to...

  • Page 55
    ...of local broadcast television stations' signals and by the number of video customers we serve and the amount of content we provide. Programming expenses increased in 2012 and 2011 primarily due to increases in programming license fees and fees incurred to secure rights for additional programming for...

  • Page 56
    ...below. 2012 Actual Actual (a) 2011 Pro Forma (b) NBCUniversal (in millions) Revenue Cable Networks Broadcast Television Filmed Entertainment Theme Parks Headquarters, other and eliminations Total revenue Operating Income Before Depreciation and Amortization Cable Networks Broadcast Television Filmed...

  • Page 57
    .... Distribution revenue increased in 2012 primarily due to contractual rate increases. Pro forma combined distribution revenue increased in 2011 primarily due to contractual rate increases and increases in the number of subscribers to our cable networks. Comcast 2012 Annual Report on Form 10-K 54

  • Page 58
    ... in promoting our cable networks and costs associated with digital media. Other operating and administrative costs and expenses include salaries, employee benefits, rent and other overhead expenses. Operating costs and expenses increased in 2012 primarily due to higher programming and production...

  • Page 59
    ... stations and related digital media properties. Our advertising revenue is generally based on audience ratings, the value of our viewer demographics to advertisers, and the number of advertising units we can place in our broadcast networks' and owned local television stations' programming schedules...

  • Page 60
    ... content originating on our broadcast networks and owned local broadcast television stations and include the amortization of owned and acquired programming costs, sports rights, direct production costs, residual and participation payments, production overhead, costs associated with the distribution...

  • Page 61
    ... our 2011 releases of Fast Five and Bridesmaids . Content Licensing Content licensing revenue is generated primarily from the licensing of our owned and acquired films to cable, broadcast and premium networks, as well as to digital distributors, such as Netflix. Comcast 2012 Annual Report on Form 10...

  • Page 62
    ... revenue is generated from the sale of our owned and acquired films on DVDs to retail stores, rental kiosks and subscription by mail services, and through digital distributors, such as iTunes. Home entertainment revenue is significantly affected by the timing and number of our releases and their...

  • Page 63
    ... heavily on the general environment for travel and tourism, including consumer spending on travel and other recreational activities. License and other fees relate primarily to our agreements with third parties that operate the Universal Studios Japan and the Universal Studios Singapore theme parks...

  • Page 64
    ... derivative • the change in the time value component of the derivative value during the period • the security to which the derivative relates changed due to a corporate reorganization of the issuing company to a security with a different volatility rate 61 Comcast 2012 Annual Report on Form 10-K

  • Page 65
    ... losses related to our investment in Clearwire LLC. Other Income (Expense), Net The change in other income (expense), net in 2012 was primarily due to a $1 billion gain related to the A&E Television Networks transaction. See Note 6 to our consolidated financial statements for additional information...

  • Page 66
    .... We and our Cable Communications subsidiaries that have provided guarantees are subject to the covenants and restrictions set forth in the indentures governing Comcast's public debt securities and in the credit agreements governing Comcast's and Comcast Cable Communications' credit facilities (see...

  • Page 67
    ...changes in technology, regulatory changes, and the timing and rate of deployment of new services and capacity for existing services. In addition, we have invested and expect to continue to invest in existing and new attractions at our Universal theme parks. Comcast 2012 Annual Report on Form 10-K 64

  • Page 68
    ... from A&E Television Networks, which were included in net cash provided by operating activities. In 2011, proceeds from sales of businesses and investments consisted primarily of the sale of the Philadelphia 76ers, NBCUniversal's sale of a Spanish-language local television station and the sale of...

  • Page 69
    ... cable networks and local broadcast television stations, contracts with customer premises equipment manufacturers, communication vendors and multichannel video providers for which we provide advertising sales representation, and other contracts entered into in the normal course of business. Cable...

  • Page 70
    ... personalities and executives, and various other television commitments. Purchase obligations do not include contracts with immaterial future commitments. (c) Other long-term obligations consist primarily of prepaid forward sale agreements of equity securities we hold; subsidiary preferred shares...

  • Page 71
    ... a cable business within a specified geographic area. The value of a franchise is derived from the economic benefits we receive from the right to solicit new customers and to market new services, such as advanced video services and highspeed Internet and voice services, in a particular service area...

  • Page 72
    ... direct costs, production overhead, print costs, development costs and interest. We amortize capitalized film and television production costs, including acquired libraries, and accrue costs associated with participation and residual payments to programming and production expense. We generally...

  • Page 73
    ... 2015 2016 2017 Thereafter Total December 31, 2012 Debt Fixed rate Average interest rate Variable rate Average interest rate Interest Rate Instruments Fixed to variable swaps Average pay rate Average receive rate Comcast 2012 Annual Report on Form 10-K $ 2,376 $ 1,969 $ 3,386 $ 2,813 $ 2,554 $ 27...

  • Page 74
    ... forward LIBOR through the year of maturity based on the yield curve in effect on December 31, 2012, plus the applicable borrowing margin on December 31, 2012. Certain of our financial contracts include credit-ratings-based triggers that could affect our liquidity. In the ordinary course of business...

  • Page 75
    .... The threshold levels in our collateral agreements are based on our and the counterparties' credit ratings. As of December 31, 2012 and 2011, neither we nor any of the counterparties were required to post collateral under the terms of the agreements. Comcast 2012 Annual Report on Form 10-K 72

  • Page 76
    ... of Contents Item 8: Financial Statements and Supplementary Data Index Page Report of Management Report of Independent Registered Public Accounting Firm Consolidated Balance Sheet Consolidated Statement of Income Consolidated Statement of Comprehensive Income Consolidated Statement of Cash Flows...

  • Page 77
    ...and free access and report directly to the Audit Committee. The Audit Committee recommended, and the Board of Directors approved, that the audited consolidated financial statements be included in this Form 10K. Brian L. Roberts Chairman and Chief Executive Officer Comcast 2012 Annual Report on Form...

  • Page 78
    ... Accounting Firm To the Board of Directors and Stockholders of Comcast Corporation Philadelphia, Pennsylvania We have audited the accompanying consolidated balance sheets of Comcast Corporation and subsidiaries (the "Company") as of December 31, 2012 and 2011, and the related consolidated statements...

  • Page 79
    ... millions, except share data) 2012 2011 Assets Current Assets: Cash and cash equivalents Investments Receivables, net Programming rights Other current assets Total current assets Film and television costs Investments Property and equipment, net Franchise rights Goodwill Other intangible assets, net...

  • Page 80
    ...Statement of Income Year ended December 31 (in millions, except per share data) 2012 2011 2010 Revenue Costs and Expenses: Programming and production Other operating and administrative Advertising, marketing and promotion...1.29 1.29 0.378 $ $ $ $ $ $ $ $ 77 Comcast 2012 Annual Report on Form 10-K

  • Page 81
    ... to Comcast Corporation See accompanying notes to consolidated financial statements. $ 7,865 161 58 - $ 5,157 4 (25) (8) $ 3,668 9 (80) (2) (15) 20 34 (31) (70) (13) - (12) (1) 8,038 5,066 3,615 (1,662) (997) (33) (6) 38 - $ 6,370 $ 4,107 $ 3,582 Comcast 2012 Annual Report on Form 10...

  • Page 82
    ... Change in film and television costs Change in accounts payable and accrued expenses related to trade creditors Change in other operating assets and liabilities Net cash provided by (used in) operating activities Investing Activities Capital expenditures Cash paid for intangible assets Acquisitions...

  • Page 83
    ...Other Comprehensive Income (Loss) Noncontrolling Interests Total Equity Balance, January 1, 2010 $ 166 Stock compensation plans Repurchases and retirements of common stock Employee stock purchase plan Dividends declared Other comprehensive income (loss) Sale (purchase) of subsidiary shares to (from...

  • Page 84
    ... Universal Networks International portfolio of networks); our cable television production studio; and our related digital media properties, which are primarily brand-aligned and other websites. Our Broadcast Television segment consists primarily of the NBC and Telemundo broadcast networks, our NBC...

  • Page 85
    ... connection of customers to our cable systems is less than related direct selling costs, we recognize revenue as connections are completed. As part of our distribution agreements with cable networks, we generally receive an allocation of scheduled advertising time that we may sell to local, regional...

  • Page 86
    ... we pay to license the programming we distribute to our video customers. Programming is acquired for distribution to our video customers, generally under multiyear distribution agreements, with rates typically based on the number of customers that receive the 83 Comcast 2012 Annual Report on Form 10...

  • Page 87
    ... or removal provisions. The disposal obligations related to our properties are not material to our consolidated financial statements. We do not have any significant liabilities related to asset retirements recorded in our consolidated financial statements. Comcast 2012 Annual Report on Form 10-K 84

  • Page 88
    ... cable networks, our regional sports and news networks, certain of our Internet businesses and other related assets (the "Comcast Content Business"). In addition to contributing the Comcast Content Business, we also made a cash payment to GE of $6.2 billion, which included transaction-related costs...

  • Page 89
    ...to the Comcast Content Business. The tables below present the fair value of the consideration transferred and the allocation of purchase price to the assets and liabilities of the NBCUniversal businesses acquired as a result of the NBCUniversal transaction. Comcast 2012 Annual Report on Form 10-K 86

  • Page 90
    ... (in millions) $ 6,120 4,308 590 13,071 $ 24,089 Film and television costs Investments Property and equipment Intangible assets Working capital Long-term debt Deferred income tax liabilities Other noncurrent assets and liabilities Noncontrolling interests acquired Fair value of identifiable net...

  • Page 91
    ... value of 50% equity method investment in Universal Orlando Total Allocation of Purchase Price (in millions) $ 1,019 1,039 $ 2,058 Property and equipment Intangible assets Working capital Long-term debt Deferred revenue Other noncurrent assets and liabilities Noncontrolling interests acquired Fair...

  • Page 92
    ...per common share attributable to Comcast Corporation shareholders Note 5: Film and Television Costs December 31 (in millions) $ 57,661 $ 5,169 $ 4,149 $ 1.51 $ 1.49 $ 55,054 $ 4,584 $ 3,844 $ 1.37 $ 1.36 2012 2011 Film Costs: Released, less amortization Completed, not released In production and...

  • Page 93
    ... direct costs, production overhead, print costs, development costs and interest. We amortize capitalized film and television production costs, including acquired libraries, and accrue costs associated with participation and residual payments to programming and production expense. We generally...

  • Page 94
    .... We classify the cash flows related to purchases of and proceeds from the sale of trading securities based on the nature of the securities and the purpose for which they were acquired. Investments in privately held companies are generally stated at cost. 91 Comcast 2012 Annual Report on Form 10-K

  • Page 95
    ... of the prepaid forward sale agreements are equity derivative financial instruments embedded in the related contracts, which we use to manage our exposure to and benefits from price fluctuations in the common stock of the related investments. For these derivative financial instruments we separate...

  • Page 96
    ... both December 31, 2012 and 2011, the estimated fair value of the AirTouch preferred stock was $1.8 billion. The dividend and redemption activity of the AirTouch preferred stock determines the dividend and redemption payments associated with substantially all of the preferred shares issued by one of...

  • Page 97
    ... and deploying new customer premise equipment, and costs associated with installation of our services in accordance with accounting guidance related to cable television companies. Costs capitalized include all direct labor and materials, as well as various indirect costs. All costs incurred in...

  • Page 98
    ...Intangible Assets Goodwill NBCUniversal Broadcast (in millions) Cable Communications Cable Networks Television Filmed Entertainment Theme Parks Corporate and Other Total Balance, December 31, 2010 Acquisitions: NBCUniversal Universal Orlando Other Dispositions Adjustments Balance, December 31, 2011...

  • Page 99
    ...-lived intangible assets consist of our cable franchise rights, as well as trade names and FCC licenses. Our cable franchise rights represent the value we attributed to agreements with state and local authorities that allow access to homes and businesses in cable service areas acquired in business...

  • Page 100
    ... assets are amortized primarily on a straight-line basis over their estimated useful life or the term of the respective agreement. We capitalize direct development costs associated with internal-use software, including external direct costs of material and services and payroll costs for employees...

  • Page 101
    ... to fund our short-term working capital requirements and are supported by our revolving credit facilities. As of December 31, 2012, the borrowing capacity available under these programs totaled $2.25 billion for Comcast and $1.5 billion for NBCUniversal. Comcast 2012 Annual Report on Form 10...

  • Page 102
    ... using pricing models that use significant inputs that are primarily unobservable, discounted cash flow methodologies or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. 99 Comcast 2012 Annual Report on Form...

  • Page 103
    ... are sensitive to the assumptions related to future revenue and tax benefits, respectively, as well as to current interest rates, and therefore, the adjustments are recorded to other income (expense), net in our consolidated statement of income. Comcast 2012 Annual Report on Form 10-K 100

  • Page 104
    ...noncontrolling interest was in excess of the estimated redemption value as of December 31, 2012. On February 12, 2013, we entered into an agreement to acquire GE's 49% common equity interest in NBCUniversal Holdings. See Note 21 for additional information. 101 Comcast 2012 Annual Report on Form 10-K

  • Page 105
    ...% 8.00 % (a) The fair value of the plan assets are primarily based on Level 1 inputs using quoted market prices for identical financial instruments in an active market. (b) The 2012 and 2011 amounts included service costs related to our pension benefits of $139 million and $99 million, respectively...

  • Page 106
    ... the plans and applicable tax law. The table below presents the benefit obligation and expenses for our deferred compensation plans. Year ended December 31 (in millions) 2012 2011 2010 Benefit obligation Interest expense 103 $ 1,247 $ 1,059 $ 935 $ 107 $ 99 $ 88 Comcast 2012 Annual Report on Form...

  • Page 107
    ... 2 / 3 % of the voting power of our common stock and holders of our Class B common stock have 33 1 / 3 % of the voting power of our common stock. Our Class A Special common stock is generally nonvoting. Each share of our Class B common stock is entitled to Comcast 2012 Annual Report on Form 10-K 104

  • Page 108
    ... compensation plans Repurchases and retirements of common stock Employee stock purchase plans Balance, December 31, 2012 2,063 6 - 3 2,072 20 - 3 2,095 24 - 3 2,122 765 - (70) - 695 1 (95) - 601 3 (96) - 508 9 - - - 9 - - - 9 - - - 9 Share Repurchases In February 2012, our Board of Directors...

  • Page 109
    ...our various plans and the related weightedaverage valuation assumptions. 2012 2011 2010 RSUs fair value Stock options fair value Stock Option Valuation Assumptions: Dividend yield Expected volatility Risk-free interest rate Expected option life (in years) Comcast 2012 Annual Report on Form 10-K 106...

  • Page 110
    ... 31 (in millions) 2012 2011 2010 Federal tax at statutory rate State income taxes, net of federal benefit Foreign income taxes, net of federal credit Nontaxable income attributable to noncontrolling interests Adjustments to uncertain and effectively settled tax positions, net Accrued interest on...

  • Page 111
    ... or dispose of a cable franchise. Net deferred tax assets included in current assets are primarily related to our current investments and current liabilities. As of December 31, 2012, we had federal net operating loss carryforwards of $158 million and variComcast 2012 Annual Report on Form 10-K 108

  • Page 112
    ... on the completion of our tax examinations and the expiration of statutes of limitation. A majority of the amount of our uncertain tax positions relates to positions taken in years before 2007. Reconciliation of Unrecognized Tax Benefits (in millions) 2012 2011 2010 Balance, January 1 Additions...

  • Page 113
    ... the application of acquisition accounting for the Universal Orlando transaction (see Note 4 for additional information on the Universal Orlando transaction) • we acquired $1 billion of property and equipment and intangible assets that were accrued but unpaid Comcast 2012 Annual Report on Form 10...

  • Page 114
    ...as of December 31, 2012 and 2011, respectively. These amounts represent cash receipts that were not yet remitted to the monetization programs as of the balance sheet date and are recorded to accounts payable and accrued expenses related to trade creditors. 111 Comcast 2012 Annual Report on Form 10-K

  • Page 115
    ... the NBCUniversal transaction, GE indemnified NBCUniversal for all liabilities NBCUniversal may incur as a result of any credit support, risk of loss or similar arrangement related to the senior secured note in existence prior to the closing of that transComcast 2012 Annual Report on Form 10-K 112

  • Page 116
    ...customer base in the "Boston Cluster" area, and the potential class in the Pennsylvania case is our customer base in the "Philadelphia and Chicago Clusters," as those terms are defined in the complaints. In each case, the plaintiffs allege that certain customer exchange transactions with other cable...

  • Page 117
    ... with respect to such actions is not expected to materially affect our financial position, results of operations or cash flows, any litigation resulting from any such legal proceedings or claims could be time consuming, costly and injure our reputation. Comcast 2012 Annual Report on Form 10-K 114

  • Page 118
    ... Income (Loss) Capital Expenditures Assets (in millions) (g) 2011 Cable Communications (a) NBCUniversal Cable Networks (b) Broadcast Television Filmed Entertainment Theme Parks (d) Headquarters and Other (e) Eliminations (f) NBCUniversal Corporate and Other Eliminations (f) Comcast Consolidated...

  • Page 119
    ... our cable services business and the businesses of Comcast Interactive Media that were not contributed to NBCUniversal. For the years ended December 31, 2012, 2011 and 2010, Cable Communications segment revenue was derived from the following sources: 2012 Residential: Video High-speed Internet Voice...

  • Page 120
    ... hand; $4 billion of senior unsecured debt securities issued by a holding company ("HoldCo"), whose sole asset is its interests in NBCUniversal Holdings; $2 billion of cash funded through a combination of Comcast's existing credit facility and NBCUniversal's credit facility, which is expected to be...

  • Page 121
    ..."). Shares of preferred stock can be called for redemption by HoldCo at par one year following each Put Date applicable to such shares. Note 22: Condensed Consolidating Financial Information Comcast Corporation ("Comcast Parent") and four of our 100% owned cable holding company subsidiaries, Comcast...

  • Page 122
    ...Parent CCCL Parent CCHMO Parents NonComcast Guarantor Holdings Subsidiaries Elimination and Consolidation Adjustments Consolidated Comcast Corporation Assets Cash and cash equivalents Investments Receivables, net Programming rights Other current assets Total current assets Film and television costs...

  • Page 123
    ... Corporation (in millions) Comcast Parent CCCL Parent Combined CCHMO Parents Comcast Holdings NonGuarantor Subsidiaries Assets Cash and cash equivalents Investments Receivables, net Programming rights Other current assets Total current assets Film and television costs Investments Investments...

  • Page 124
    ... CCHMO Parents Comcast Holdings NonGuarantor Subsidiaries Elimination and Consolidation Adjustments Consolidated Comcast Corporation Revenue: Service revenue Management fee revenue Costs and Expenses: Programming and production Other operating and administrative Advertising, marketing and promotion...

  • Page 125
    ... 31, 2011 Combined (in millions) Comcast Parent CCCL Parent CCHMO Parents Comcast Holdings NonGuarantor Subsidiaries Elimination and Consolidation Adjustments Consolidated Comcast Corporation Revenue: Service revenue Management fee revenue Costs and Expenses: Programming and production Other...

  • Page 126
    ... CCHMO Parents Comcast Holdings NonGuarantor Subsidiaries Elimination and Consolidation Adjustments Consolidated Comcast Corporation Revenue: Service revenue Management fee revenue Costs and Expenses: Programming and production Other operating and administrative Advertising, marketing and promotion...

  • Page 127
    ... Comcast Corporation Net cash provided by (used in) operating activities $ (362) $ (177) $ Investing Activities: Net transactions with affiliates 3,845 177 Capital expenditures (10) - Cash paid for intangible assets (6) - Acquisitions, net of cash acquired - - Proceeds from sales of businesses...

  • Page 128
    ...Adjustments Consolidated Comcast Corporation Net cash provided by (used in) operating activities Investing Activities: Net transactions with affiliates Capital expenditures Cash paid for intangible assets Acquisitions, net of cash acquired Proceeds from sales of businesses and investments Return of...

  • Page 129
    ...Adjustments Consolidated Comcast Corporation Net cash provided by (used in) operating activities Investing Activities: Net transactions with affiliates Capital expenditures Cash paid for intangible assets Acquisitions, net of cash acquired Proceeds from sales of businesses and investments Return of...

  • Page 130
    ... effective. Management's annual report on internal control over financial reporting Refer to Management's Report on Internal Control Over Financial Reporting on page 74. Attestation report of the registered public accounting firm Refer to Report of Independent Registered Public Accounting Firm on...

  • Page 131
    ... Officer, Comcast Cable Senior Vice President; General Counsel; Secretary Senior Vice President; Chief Accounting Officer; Controller Brian L. Roberts has served as a director and as our President, Chief Executive Officer and Chairman of the Board for more than five years. As of December 31, 2012...

  • Page 132
    ...: Principal Accountant Fees and Services We incorporate the information required by this item by reference to our 2013 Proxy Statement. We intend to file our 2013 Proxy Statement for our annual meeting of shareholders with the SEC on or before April 5, 2013. 129 Comcast 2012 Annual Report on Form 10...

  • Page 133
    ...Report on Form 10K for the year ended December 31, 2002). Specimen Class A Special Common Stock Certificate (incorporated by reference to Exhibit 4.2 to our Annual Report on Form 10-K for the year ended December 31, 2002). Indenture, dated January 7, 2003, between Comcast Corporation, the subsidiary...

  • Page 134
    ... to Exhibit 10.5 to our Quarterly Report on Form 10-Q for the quarter ended March 31, 2011). Comcast Corporation Retirement-Investment Plan, as amended and restated effective January 1, 2013. Comcast Corporation 2002 Non-Employee Director Compensation Plan, as amended and restated effective May...

  • Page 135
    ... 10.21 to our Annual Report on Form 10-K for the year ended December 31, 2011). Amendment No. 7 to Employment Agreement between Comcast Corporation and Brian L. Roberts, effective as of June 30, 2012 (incorporated by reference to Exhibit 99.1 to our Current Report on Form 8-K filed on September 14...

  • Page 136
    ... 14, 2012, to the Employment Agreements with Brian L. Roberts, Michael J. Angelakis, Stephen B. Burke, Neil Smit and David L. Cohen. Form of Non-Qualified Stock Option under the Comcast Corporation 2003 Stock Option Plan (incorporated by reference to Exhibit 10.40 to our Annual Report on Form 10...

  • Page 137
    ... 28, 2011, to Master Agreement, dated as of December 3, 2009, by and among General Electric Company, NBC Universal, Inc. (n/k/a NBCUniversal Media, LLC), Comcast Corporation and Navy, LLC (n/k/a NBCUniversal, LLC) (incorporated by reference to Exhibit 10.49 to our Annual Report on Form 10-K for...

  • Page 138
    ... Rodgers Chairman and CEO; Director (Principal Executive Officer) Founder; Chairman Emeritus of the Board Vice Chairman and CFO (Principal Financial Officer) Senior Vice President, Chief Accounting Officer and Controller (Principal Accounting Officer) Director Director February 20, 2013 February...

  • Page 139
    ..., and the Company's internal control over financial reporting as of December 31, 2012, and have issued our report thereon dated February 20, 2013; such report is included elsewhere in this Form 10-K. Our audits also included the consolidated financial statement schedule of the Company listed in Item...

  • Page 140
    Table of Contents Comcast Corporation and Subsidiaries Schedule II - Valuation and Qualifying Accounts Year ended December 31, 2012, 2011 and 2010 Year Ended December 31 (in millions) Balance at Beginning Additions Charged to Deductions from Balance at End of Year Costs and Expenses Reserves of ...

  • Page 141
    ... retirement benefits and increased financial security available on a tax-favored basis to those individuals, the Board of Directors of Comcast Corporation, a Pennsylvania corporation (the "Board"), hereby amends and restates the Comcast Corporation 2005 Deferred Compensation Plan (the "Plan...

  • Page 142
    ... "under common control with," mean, with respect to any Person, the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities, by contract or otherwise. 2.5. " Annual Rate of Pay...

  • Page 143
    ... to amounts credited to the Company Stock Fund pursuant to deferral elections by Outside Directors or Directors Emeriti made pursuant to Section 3.1(a), Comcast Corporation Class A Common Stock, par value $0.01, including a fractional share, and such other securities issued by Comcast Corporation as...

  • Page 144
    ... be credited to the Income Fund. 2.15. " Compensation " means: (a) In the case of an Outside Director, the total remuneration payable in cash or payable in Company Stock (as elected by an Outside Director pursuant to the Comcast Corporation 2002 Non-Employee Director Compensation Plan) for services...

  • Page 145
    ... of child support, alimony payments or marital property rights to a spouse or former spouse of a Participant; and (b) Is made pursuant to a State domestic relations law (including a community property law). 2.24. " Eligible Comcast Employee " means: (a) For the 2012 Plan Year, each employee of...

  • Page 146
    ...the 2013 Plan Year: (i) Is not a member of NBCUniversal's Operating Committee; (ii) Transferred employment directly from the Company to NBCUniversal in 2011 or 2012; (iii) Was an Eligible Employee under the rules of the Plan as in effect immediately before transferring employment from the Company to...

  • Page 147
    ... (e) Each New Key Employee who is an employee of NBCUniversal. 2.27. " Fair Market Value " (a) If shares of Company Stock are listed on a stock exchange, Fair Market Value shall be determined based on the last reported sale price of a share on the principal exchange on which shares are listed on the...

  • Page 148
    ...and who has been in continuous service to the Company or an Affiliate since December 31, 1989. (ii) Each employee of a Participating Company other than NBCUniversal who was, at any time before January 1, 1995, eligible to participate in the Prior Plan and whose Annual Rate of Pay was $90,000 or more...

  • Page 149
    ...is not in active service as an Outside Director or Director Emeritus and is not actively employed by a Participating Company. 2.31. " Income Fund " means a hypothetical investment fund pursuant to which income, gains and losses are credited to a Participant's Account as if the Account, to the extent...

  • Page 150
    ... Employee's Account in the Plan, plus (y) the value of the Eligible Employee's Account in the Prior Plan, plus (z) the value of the Eligible Employee's Account in the Comcast Corporation 2002 Restricted Stock Plan (or any successor plan) to the extent such Account is credited to the "Income Fund...

  • Page 151
    ...Company as a retirement under its employment policies and practices as in effect from time to time; and (b) For a Participant who is an Outside Director or Director Emeritus immediately preceding his termination of service, the Participant's normal retirement from the Board. 2.36. " Outside Director...

  • Page 152
    ... business day preceding the first day of each calendar year beginning thereafter. 2.45. " Prior Plan " means the Comcast Corporation 2002 Deferred Compensation Plan. 2.46. " Protected Account Balance " means: (a) The amount credited to the Account of an Eligible Comcast Employee, Outside Director...

  • Page 153
    ... on which an employee (or former employee) is required to report for work for a Participating Company. 2.49. " Signing Bonus " means Compensation payable in cash and designated by the Administrator as a special bonus intended to induce an individual to accept initial employment (or re-employment) by...

  • Page 154
    ... Company), and credited, as a bookkeeping entry, to such Outside Director's, Director Emeritus's or Eligible Employee's Account in accordance with Section 5.1. Amounts credited to the Accounts of Outside Directors in the form of Company Stock shall be credited to the Company Stock Fund and credited...

  • Page 155
    ...Outside Director, Director Emeritus or Eligible Employee shall, contemporaneously with an Initial Election, also elect the time of payment of the amount of the deferred Compensation to which such Initial Election relates; provided, however, that, except as otherwise specifically provided by the Plan...

  • Page 156
    ... Participant or a Disabled Participant to make a Subsequent Election to defer the time of payment of any part or all of such Retired or Disabled Participant's Account that would not otherwise become payable within twelve (12) months of such Subsequent Election for a minimum of five (5) years and...

  • Page 157
    ... shall remit the amounts so withdrawn to the Personal Representative, who shall apply the same to the payment of the Decedent's Death Taxes, or the Administrator may pay such amounts directly to any taxing authority as payment on account of Decedent's Death Taxes, as the Administrator elects...

  • Page 158
    ...The total amount of Company Credits designated with respect to an Eligible Employee's Account for any Plan Year shall be credited to such Eligible Employee's Account as of the time or times designated by the Administrator, as a bookkeeping entry to such Eligible Employee's Account in accordance with...

  • Page 159
    ... other employer or otherwise, or to another deferred compensation plan, program or arrangement sponsored by the Company or an Affiliate. Following the completion of such transfer, with respect to the benefit transferred, the Participant shall have no further right to payment under this Plan. (b) The...

  • Page 160
    ... deemed transferred to the Income Fund. Distributions of amounts credited to the Company Stock Fund with respect to Outside Directors' Accounts shall be distributable in the form of Company Stock, rounded to the nearest whole share. (d) Timing of Credits . Compensation deferred pursuant to the Plan...

  • Page 161
    ... of whether or not the Company is a Participant's employer, an Account shall at all times represent a general obligation of the Company. The Participant shall be a general creditor of the Company with respect to this obligation, and shall not have a secured or preferred position with respect to the...

  • Page 162
    ... permitted by Section 409A, notwithstanding the terms of an Initial Election or Subsequent Election, distribution of all or part of a Participant's Account may be made: (a) To fulfill a domestic relations order (as defined in section 414(p)(1)(B) of the Code) to the extent permitted by Treasury...

  • Page 163
    ...persons for all purposes. 9.2. Claims Procedure . If an individual (hereinafter referred to as the "Applicant," which reference shall include the legal representative, if any, of the individual) does not receive timely payment of benefits to which the Applicant believes he is entitled under the Plan...

  • Page 164
    ... from time to time, to amend or modify this Plan. The Company, by action of the Board, shall have the right to terminate this Plan at any time. 10.2. Amendment of Rate of Credited Earnings . No amendment shall change the Applicable Interest Rate with respect to the portion of a Participant's Account...

  • Page 165
    ... the right to remain in service as an Outside Director or Director Emeritus or in the employment of a Participating Company as an executive or in any other capacity. 12.2. Expenses of Plan . All expenses of the Plan shall be paid by the Participating Companies. 12.3. Gender and Number . Whenever...

  • Page 166
    IN WITNESS WHEREOF, COMCAST CORPORATION has caused this Plan to be executed by its officers thereunto duly authorized, and its corporate seal to be affixed hereto, on the 1st day of December, 2012. COMCAST CORPORATION BY: /s/ David L. Cohen ATTEST: /s/ Arthur R. Block -26-

  • Page 167
    Exhibit 10.10 THE COMCAST CORPORATION RETIREMENT-INVESTMENT PLAN (Amended and Restated Effective January 1, 2013)

  • Page 168
    ... or Loss Accounting for Allocations General Separation from Service Death Total Disability Valuation for Distribution Timing of Distribution -i- 4 19 19 19 19 20 20 20 21 21 22 22 23 23 24 24 24 25 27 27 27 28 28 28 28 28 30 30 30 30 30 30 30 ARTICLE III CONTRIBUTIONS TO THE PLAN...

  • Page 169
    ... Mode of Retirement or Disability Benefit Death Benefits Explanations to Participants Beneficiary Designation Recalculation of Life Expectancy Transfer of Account to Other Plan Section 401(a)(9) Nonforfeitable Amounts Years of Service for Vesting Breaks in Service and Loss of Service Restoration of...

  • Page 170
    ... for Non-Key Employees Social Security No Employment Rights Governing Law Severability of Provisions No Interest in Fund Spendthrift Clause Incapacity Withholding Missing Persons/Uncashed Checks Notice Additional Service Credit Listed Employer Applicability Limitation General Eligibility and Vesting...

  • Page 171
    Page Section 16.3. Section 16.4. APPENDIX A Eligibility to Participate Separate Testing 71 71 73 77 78 81 -iv- SCHEDULE A MINIMUM DISTRIBUTION REQUIREMENTS EXHIBIT A PARTICIPATING COMPANIES/LISTED EMPLOYERS EXHIBIT B NBCUNIVERSAL, LLC

  • Page 172
    ...Cablevision Retirement-Investment Plan - May 1, 2000 Prime Communications - Potomac LLC 401(k) Retirement & Savings Plan and the Prime Cable 401(k) Savings and Security Plan - August 1, 2000 TGC, Inc. D/B/A The Golf Channel 401(k) Profit Sharing Plan - August 1, 2002 Effective April 1, 1998, assets...

  • Page 173
    ... Corporation Savings and Investment Plan - August 2, 2002 TKR Cable Company Defined Contribution Plan - October 4, 2002. Tech TV Savings and Profit Sharing Plan - December 31, 2007 401(k) Savings Plan for Certain Seymour Employees - December 31, 2007 ThePlatform for Media Retirement Savings Plan...

  • Page 174
    ... in this Comcast Corporation Retirement-Investment Plan (the "Plan"), subject to the eligibility requirements set forth herein. On or about the January 1, 2013, the assets of the NBCUniversal Capital Accumulation Plan representing the accounts of NBCUniversal, LLC employees who are eligible...

  • Page 175
    ... the meaning used in such provision of the Code, if necessary for the Plan to comply with such provision. " Account " means the entries maintained in the records of the Trustee which represent the Participant's interest in the Fund. The term "Account" shall refer, as the context indicates, to any...

  • Page 176
    ... are, in each case, allocated to this Account. " NBCU Retirement Contributions Account " - the Account to which are credited a Participant's NBCU Retirement Contributions, adjustments for withdrawals and distributions, and the earnings, losses and expenses attributable thereto. In addition, amounts...

  • Page 177
    ... retirement plan, other than an employee stock ownership plan as defined in section 4975(e)(7) of the Code or a tax credit employee stock ownership plan as defined in section 409(a) of the Code, maintained by the Participating Company or any Affiliated Company; to (b) the Early Entry Eligible...

  • Page 178
    ... any Participating Company: (a) In General. (1) any corporation that is a member of a controlled group of corporations, as determined under section 414(b) of the Code, which includes such Participating Company; (2) any trade or business (whether or not incorporated) that is under common control with...

  • Page 179
    ... any date, an employee's annualized base pay rate as reflected on the records of the Company. An employee's Annual Rate of Pay shall not include sales commissions or other similar payments or awards. " AT&T Broadband Transaction " means the combination of Comcast Corporation and AT&T Broadband Corp...

  • Page 180
    ... Comcast Corporation. " Company Stock " means Comcast Corporation Class A Common Stock. " Compensation " means, for any Eligible Employee, for any Plan Year or Limitation Year, as the case may be: (a) except as otherwise provided below in this definition, and subject to the limitations set forth...

  • Page 181
    ... Union Employees (Broadband), Compensation shall mean base pay (prior to reductions under sections 125 and 401(k) of the Code), bonuses (other than STIP and executive STIP listed below), payments received under the Company Sickness and Accident Disability Plan or short term disability payments under...

  • Page 182
    ... then applicable limit under section 401(a)(17) of the Code), (b) any Employee of NBCUniversal or its participating subsidiaries hired by NBCUniversal on or after January 29, 2011 and on or before December 31, 2012 (including Employees of NBCUniversal who transferred employment directly from Comcast...

  • Page 183
    ... owner, as defined in section 416(i) of the Code at any time during the Plan Year or preceding Plan Year; or (b) for the preceding Plan Year received more than $115,000 (as indexed) in Compensation from a Participating Company or an Affiliated Company. " Hour of Service " means, for any Employee...

  • Page 184
    ...assets of his Account. " Investment Stock " means Comcast Corporation Class A Special Common Stock. " Leased Employee " means any person, other than an employee of a Participating Company or an Affiliated Company, who, pursuant to an agreement between a Participating Company or an Affiliated Company...

  • Page 185
    ... on the Employee's Severance from Service Date during which the former Employee is credited with no Hours of Service. " Participant " means an individual for whom one or more Accounts are maintained under the Plan. " Participating Company " means the Company, each subsidiary of the Company which is...

  • Page 186
    ... and ending on the date on which the Employee is again entitled to be credited with an Hour of Service. " Plan " means The Comcast Corporation Retirement-Investment Plan, a profit sharing plan, as set forth herein. " Plan Year " means each 12-consecutive month period that begins on January 1st and...

  • Page 187
    ... credited to a separate sub-account in the Plan and attributable to matching contributions under the following plans that were previously merged into the Plan: (1) Jones Intercable, Inc. Profit Sharing\Retirement Savings Plan, (2) Lenfest Group Retirement Plan, and (3) the tax-qualified defined...

  • Page 188
    ... Storer Communications Pension Plan, or from the tax-qualified defined contribution plans of Adelphia Communications Corporation, Home Team Sports, AT&T, MidAtlantic Communications, or Cable Network Services LLC (in which Outdoor Life Network was a participating employer). " Total Disability " means...

  • Page 189
    " Valuation Date " means each day the New York Stock Exchange is open for trading, or such other day as the Committee shall determine. " Year of Service " means, for any Employee, a credit used to determine his vested status under the Plan, as further described in Section 6.2. -18-

  • Page 190
    ... Date shall, for all purposes of the Plan applicable to that Covered Employee, become an Eligible Employee on the Entry Date next following his completion of a Period of Service of three months. 2.2.3. If an individual is not a Covered Employee on the Entry Date next following the date he meets the...

  • Page 191
    ... of the acquisition of the business of such Eligible Employee's employer by a Participating Company (whether via a merger, stock acquisition or asset acquisition) and (ii) does not elect to make Pre-Tax Contributions or Roth Contributions and become an Active Participant pursuant to Section 2.3 will...

  • Page 192
    ... in the Plan. The Participating Company shall contribute an amount equal to such percentage of the Eligible Employee's Compensation to the Fund for credit to the Eligible Employee's Pre-Tax Matched Contribution Account and/or Pre-Tax Unmatched Contribution Account, as applicable, provided that...

  • Page 193
    ...Participants who are Covered Union Employees (Broadband), the total amount of PreTax Contributions and After-Tax Contributions credited to a Participant's Account may not exceed 50% of the Participant's Compensation. Section 3.3. Change of Percentage Rate . A Participant may, without penalty, change...

  • Page 194
    ... Participating Company shall contribute to the Fund for each Payroll Period: (a) with respect to each Active Participant (other than an Active Participant who is a Covered Union Employee (Comcast) and a member of Local Union 827, International Brotherhood of Electrical Workers and who is employed in...

  • Page 195
    ... contributions deposited by the Participating Company in the Fund in accordance with this Article shall constitute a fund held for the benefit of Participants and their eligible beneficiaries under and in accordance with this Plan. No part of the principal or income of the Fund shall be used for, or...

  • Page 196
    ... qualified retirement plan maintained by a Participating Company or any Affiliated Company to insure against exceeding the limits of Section 3.8. To the extent practicable, the Plan Administrator may prospectively limit (i) some or all of the Highly Compensated Early Entry Eligible Employees' Pre...

  • Page 197
    ... order of priority, the Highly Compensated Early Entry Eligible Employees' Matching Contributions and employee contributions and employer matching contributions under any other qualified retirement plan maintained by the Participating Company or an Affiliated Company, in order beginning with the...

  • Page 198
    ...If the amounts otherwise allocable to a Participant's Account under the Plan exceed the limitations set forth in section 415(c) of the Code, then the Plan shall correct such excess in accordance with the Employee Plans Compliance Resolution System (EPCRS) as set forth in Revenue Procedure 2008-50 or...

  • Page 199
    ... of Participants in accordance with the general concepts of the Plan and the provisions of this Article. 4.4.2. Accounting and Other Procedures Regarding Company Stock and Investment Stock . (a) Company Stock required for purposes of the Plan shall either be transferred or sold to the Trustee by...

  • Page 200
    ... elections to reallocate the investment of funds held in Participants' Accounts to the Investment Medium that holds Company Stock pursuant to the real time trading guidelines established by agreement between the Company and the Trustee. Shares of Company Stock and Investment Stock shall be converted...

  • Page 201
    ... (as defined in Code §414(u)), the survivors of such Participant shall be entitled to any benefit, including but not limited to any acceleration of vesting, that would be provided under the Plan had the Participant resumed employment with his employer and then terminated employment on account of...

  • Page 202
    ...spouse, the maximum number of years permitted by section 401 (a)(9) of the Code and the applicable regulations; or (b) a single sum payment in cash, except that a Participant may elect to receive the portion of his Account invested in Company Stock and/or Investment Stock in the form of shares. -31-

  • Page 203
    ...with either of the following modes of payment: (1) a single sum payment in cash, except that a beneficiary may elect to receive the portion of the Account invested in Company Stock and/or Investment Stock in the form of shares; or (2) approximately equal annual installments over the remainder of the...

  • Page 204
    ... of: 5.10.1. the terms and conditions of each optional mode of payment, including information explaining the relative values of each mode of benefit, in accordance with applicable governmental regulations under section 401(a)(11) of the Code; 5.10.2. the Participant's right to elect an optional mode...

  • Page 205
    ... representative or notary public; (b) the Participant: (1) establishes to the satisfaction of the Committee that his spouse cannot be located; or (2) furnishes a court order to the Committee establishing that the Participant is legally separated or has been abandoned (within the meaning of local law...

  • Page 206
    ... of the Code, (2) a Roth individual retirement account described in section 408A of the Code, (3) an individual retirement annuity described in section 408(b) of the Code (other than an endowment contract), (4) a qualified retirement plan described in section 401(a) of the Code, the terms of which...

  • Page 207
    ... distributions from the individual retirement account that receives the non-spouse beneficiary's distribution. 5.13.2. The Participant or beneficiary must specify the name of the plan or account to which the Participant or beneficiary wishes to have the amount transferred, on a form and in a manner...

  • Page 208
    retirement account or annuity described in section 408(a) or (b) of the Code, to a qualified plan described in section 401(a) or 403(a) of the Code, or to a 403(b) plan that agrees to separately account for amounts so transferred, including separately accounting for the portion of such distribution ...

  • Page 209
    ... Plan to the contrary, an Employee shall not be credited with Years of Service for the same period twice. 6.2.6. CIC Development Corp . Effective December 14, 1999, any Active Participant who transfers employment directly from a Participating Company to CIC Development Corp., shall have his service...

  • Page 210
    ... Retirement Date and at a time when he has no Accounts under the Plan. Section 6.4. Restoration of Service . The Years of Service of an Employee whose Years of Service have been canceled pursuant to Section 6.3 shall be restored to his credit if he thereafter completes an Hour of Service at a time...

  • Page 211
    ... of zero, shall be established as a separate account, and he shall at all times have a nonforfeitable interest therein. If the Participant is later reemployed as a Covered Employee, any allocations to him shall be credited to a new account, and his nonforfeitable interest therein shall be determined...

  • Page 212
    ...in the distributing plan. In addition, a Covered Employee who has established an individual retirement account to hold distributions received from qualified retirement plans of former employers may transfer all of the assets of such individual retirement account to the Fund. 7.1.2. The Trustee shall...

  • Page 213
    ... Account . 7.2.1. The distributions transferred by or for a Covered Employee from another qualified retirement plan or from an individual retirement account shall be credited to the Covered Employee's After-Tax Rollover Account, Roth Rollover Account and/or Taxable Rollover Account, as applicable...

  • Page 214
    ... they were credited in the Plan Year of withdrawal or the two preceding Plan Years. Section 8.2. Withdrawals Subject to Section 401(k) Restrictions . 8.2.1. In addition to the withdrawals permitted under Section 8.1, a Participant who is an active Employee may withdraw, under the rules set forth in...

  • Page 215
    ... care; (b) costs directly related to the purchase (excluding mortgage payments) of a principal residence of the Participant; (c) the payment of tuition and related educational fees for the next 12 months of post-secondary education for the Participant, his spouse, children, dependents (as defined...

  • Page 216
    ... Contribution Account, Roth Matched Contribution Account or Roth Unmatched Contribution Account pursuant to Section 8.2.1, or withdraws any elective deferrals under any other qualified retirement plan maintained by the Participating Company or any Affiliated Company, which other plan conditions such...

  • Page 217
    ... any health or welfare plan, including a health or welfare plan that is part of a cafeteria plan described in section 125 of the Code) or any qualified or non-qualified employee stock purchase plan maintained by the Participating Company or an Affiliated Company for a period of 6 months commencing...

  • Page 218
    ... is performing active duty service in the uniformed services (as defined in chapter 43 of title 38, United States Code) for a period of more than 30 days shall, solely for purposes of section 401(k)(2)(B)(i)(I), be treated as having had a severance from employment with the Participating Company and...

  • Page 219
    ...the terms and conditions set forth in this Section. Withdrawals shall be made in a single sum payment in cash, except that a Participant making a withdrawal pursuant to Section 8.1 or 8.3 may elect to receive all or a portion of the withdrawal in the form of shares of Company Stock and/or Investment...

  • Page 220
    ...in a normal commercial setting by an entity in the business of making loans and as the Committee determines necessary to safeguard the Fund. Section 9.3. Amount of Loan . 9.3.1. Generally, a Participant shall not be permitted to have more than one loan outstanding at any time from this Plan; however...

  • Page 221
    ...at any time by notifying the Committee of his intent to do so and by forwarding to the Committee payment in full of the then outstanding balance, plus interest accrued to the date of payment. The amount of principal and interest repaid by a Participant shall be credited to a Participant's Account as...

  • Page 222
    ... any remaining amounts in his Account shall be used to reduce the Participant's indebtedness at such time as the Participant has a Severance from Service Date. Such action shall not operate as a waiver of the rights of the Company, the Committee, the Trustee, or the Plan under applicable law. -51-

  • Page 223
    ... property other than the Participant's Account pledged as security for the loan or to otherwise enforce collection of the outstanding balance of the loan. Section 9.6. Additional Rules . The Committee may establish additional rules relating to Participant loans under the Plan, which rules shall be...

  • Page 224
    ...The Committee shall be the Administrator and the "named fiduciary" of the Plan, as defined in section 402(a)(2) of ERISA. Each member of the Committee may, but need not be, a director, officer or Employee of a Participating Company and each shall serve until his or her successor is appointed in like...

  • Page 225
    ... management of the Plan's assets, including any voting rights for any securities held by the Trustee; (d) direct the Trustee to pay investment-related expenses properly chargeable to the Plan, including Trustee expenses; (e) enter into a trust agreement with such Trustee(s) on behalf of the Company...

  • Page 226
    ... of plan assets; and (g) appoint, monitor and remove one or more investment manager(s), as defined in section 3(38) of ERISA, to manage any portion of the Trust or an insurance company single-client or pooled separate account, including the exercise of any voting rights of any securities managed by...

  • Page 227
    ... Committee to make such determinations. In such case, such other person shall have the duties and powers as the Committee as set forth above, including the complete discretion to interpret and construe the provisions of the Plan. Section 10.3. Functioning of Committee . 10.3.1. The Committee shall...

  • Page 228
    ... investment, Trustee, management, and administrative fees and expenses may be paid out of the Trust or any other Plan asset to the extent that it is legally permissible for these fees and expenses to be so paid. A Participating Company may, but is not required, to pay such fees and expenses directly...

  • Page 229
    ...'s benefit claim will be deemed permanently waived and abandoned, and the claimant will be precluded from reasserting it. Section 10.8. Indemnification . Each member (or former member) of the Committee, and any other person who is an Employee or director of a Participating Company or an Affiliated...

  • Page 230
    ... have any interest in or right to any part of the assets or income of the Fund, except to the extent expressly provided in this Plan and in the Trust Agreement. Section 11.4. Trustee . The Trustee shall be the named fiduciary with respect to management and control of Plan assets held by it and shall...

  • Page 231
    ... Medium, or (c) to transfer amounts between particular Investment Media, if such limitation is required under the terms establishing an Investment Medium or to facilitate the merger of any other plan with and into this Plan, or the transfer or rollover of benefits into this Plan. 11.5.7. Prior to...

  • Page 232
    ...be permanent. However, each Participating Company reserves the right to terminate its participation in this Plan at any time by action of its board of directors or other governing body. Furthermore, the Company reserves the power to amend or terminate the Plan at any time and to any extent by action...

  • Page 233
    ...Code or a simplified employee pension plan as defined in Section 408(k) of the Code), Accounts shall be distributed in accordance with applicable law. Section 12.2. Merger . The Plan shall not be merged with or consolidated with, nor shall its assets be transferred to, any other qualified retirement...

  • Page 234
    ... deceased Employee) who at any time during the Plan Year that includes the Determination Date was an officer of a Participating Company having Compensation for a Plan Year greater than $165,000 (as adjusted under section 415(i)(1) of the Code), a 5% owner of a Participating Company, or a 1% owner of...

  • Page 235
    ... (or fund to fund transfers) to the Plan by an Employee after December 31, 1983 from a plan sponsored by an employer which is not a Participating Company or an Affiliated Company; (2) any amount that is included in Sections 13.2.4(a) or 13.2.4(b) for a person who is a Non-Key Employee as to the Plan...

  • Page 236
    ... is an Employee on the last day of such Plan Year will receive a total minimum Participating Company or Affiliated Company contribution (including forfeitures) under all plans described in Sections 13.2.1(a) and (b) of not less than three percent (3%) of the Eligible Employee's Compensation for the...

  • Page 237
    .... In such event, the Non-Key Employee shall not receive the minimum contribution described in this Section if he has the minimum benefit required by section 416 of the Code under the defined benefit TopHeavy Plan. Section 13.4. Social Security . The Plan, for each Plan Year in which it is a Top...

  • Page 238
    ... be construed as giving to any Employee the right to be retained in the employ of the Company or any Participating Company, or any right to payment except to the extent of the benefits provided in the Plan to be paid from the Fund. Section 14.2. Governing Law . Except to the extent superseded by...

  • Page 239
    ...or beneficiary does not claim his benefits by the applicable required beginning date in accordance with section 401(a)(9) of the Code and the regulations thereunder, the Plan shall forfeit the Account. If and when a claim for benefits is made after such forfeiture, the Account balance as of the date...

  • Page 240
    ... any individual who becomes an employee of a Participating Company directly from Susquehanna Cable Co. ("Susquehanna") or any of the Selling Subsidiaries as defined in the Asset Purchase Agreement between Susquehanna and Comcast Corporation dated October 31, 2005 (the "Susquehanna APA"), during the...

  • Page 241
    ... any provision of this Article to the contrary, the application of this Article shall not cause any Employee to become a Participant in the Plan prior to the effective date of an entity being designated as a Listed Employer with which he was employed, unless he would have become a Participant at an...

  • Page 242
    ... General . Comcast Sports Network (Philadelphia) L.P., a Pennsylvania limited partnership (formerly known as Philadelphia Sports Media LP) ("CSN") and each of its subsidiaries that are members of the controlled group of trades or businesses that includes CSN, became a Participating Company hereunder...

  • Page 243
    Executed as of the 29th of August, 2012 COMCAST CORPORATION BY: /s/ David L. Cohen ATTEST: /s/ Arthur R. Block -72-

  • Page 244
    ...other provisions of this Schedule A, distributions may be made under a designation made before January 1, 1984, in accordance with section 242(b)(2) of the Tax Equity and Fiscal Responsibility Act (TEFRA) and the provisions of the Plan that relate to section 242(b)(2) of TEFRA. 2. Time and Manner of...

  • Page 245
    ...form of an annuity purchased from an insurance company, distributions thereunder will be made in accordance with the requirements of section 401(a)(9) of the Code and the Treasury Regulations. 3. Required... Participant's Account Balance by the number in the Joint and Last Survivor Table set forth in...

  • Page 246
    ...the Participant's death is the quotient obtained by dividing the Participant's Account Balance by the Participant's remaining Life Expectancy calculated using the age of...distribution of the Participant's entire interest will be completed by December 31 of the calendar year containing the fifth anniversary of ...

  • Page 247
    ... and decreased by distributions made in the valuation calendar year after the valuation date. The Account Balance for the valuation calendar year includes any amounts rolled over or transferred to the Plan either in the valuation calendar year or in the Distribution Calendar Year if distributed or...

  • Page 248
    ... Participating Company Listed Employer Effective Date Ad Sales Acquisitions TeleMedia Charter Communications Mediacom Cox Communications YES YES December 29, 2003 Gemstar TV Guide US Cable Coastal of Texas LP (Georgia and South Carolina properties only) Tech TV, Inc. (formerly Tech TV LLC...

  • Page 249
    ... 1, 2013. Time Warner NY Cable LLC NO YES thePlatform for Media, Inc. Insight Media E! Entertainment Television, Inc. New England Cable News NBCUniversal, LLC and its subsidiaries YES NO NO YES NO, except with respect to employees who are on a payroll administered by Comcast Corporation (as...

  • Page 250
    NON-PARTICIPATING COMPANIES Company Effective Date THOG Productions, LLC * Previously excluded by action of the Board. -79- August 1, 2002*

  • Page 251
    ... in the Plan: (i) E! Entertainment Television, Inc. Profit Sharing/401(k) Plan, (ii) NBCUniversal Capital Accumulation Plan, (iii) Universal Studios Hollywood 401(k) Plan, (iv) Wet N' Wild 401(k) Plan, (v) Savings Plan for WNJU Union Employees of Telemundo, or (vi) Universal Orlando 401(k) Plan. -80...

  • Page 252
    ... subsequent Plan Year of the date on which such Eligible Employee was first enrolled in the Plan. The Participating Company shall contribute an amount equal to such percentage of the Eligible Employee's Compensation to the Fund for credit to the Eligible Employee's Pre-Tax Contribution Account. -81...

  • Page 253
    ...Tax Contribution and/or Pre-Tax Catch-Up Contributions the Eligible Employee is otherwise eligible to make under the Plan; and (ii) treated by the Participating Company as includible in the Eligible Employee's income at the time the Participant would have received that amount in cash if the Eligible...

  • Page 254
    ... Employee's Compensation for that Plan Year. Notwithstanding the foregoing, no Eligible Employee shall be eligible to receive an NBCU Retirement Contribution pursuant to this Section 3.3 if such Employee is either (i) eligible to participate in the Comcast Corporation 2005 Deferred Compensation Plan...

  • Page 255
    ...receiving workers' compensation benefits; (4) any Participant who is on a leave of absence as a result of performing active duty service in the uniformed services (as defined in chapter 43 of title 38, United States Code); (5) any Participant who is not actively employed with a Participating Company...

  • Page 256
    ...COMCAST CORPORATION, a Pennsylvania corporation (together with its subsidiaries, the "Company"), and BRIAN L. ROBERTS ("Employee"). BACKGROUND WHEREAS, the parties entered into an Employment Agreement dated as of January 1, 2005, as amended (the "Agreement"), that sets forth the terms and conditions...

  • Page 257
    ... COMCAST CORPORATION, a Pennsylvania corporation (together with its subsidiaries, the "Company"), and [ ] ("Employee"). BACKGROUND WHEREAS, the parties entered into an Employment Agreement dated as of [ conditions of Employee's employment with the Company, and ] (the "Agreement"), that sets forth...

  • Page 258
    IN WITNESS WHEREOF, the parties hereto have executed and delivered this Amendment as of the date first-above written. COMCAST CORPORATION By: Date: EMPLOYEE: Date: 2

  • Page 259
    ... (the "Date of Grant"). This Schedule is intended to be, and shall at all times be interpreted as, a part of your Comcast Corporation Restricted Stock Unit Award document. Restricted Stock Unit Award Grantee: Date of Grant: Common Stock: Number of Restricted Stock Units Granted: [Year 1] RSUs [[Year...

  • Page 260
    ... our consolidated subsidiaries. Preferred security dividend is the amount of pretax earnings that is required to pay the dividends on outstanding preference securities. Interest associated with our uncertain tax positions is a component of income tax expense. Comcast 2012 Annual Report on Form 10-K

  • Page 261
    .... CCF Management Services, Inc. Century-TCI California Communications, L.P. Century-TCI Holdings, LLC Classic Services, Inc. Clinton Cable TV Investors, LLC Colorado Terrace Tower II Corporation COM Indiana, LLC COM Indianapolis, LLC COM Inkster, LLC COM South, LLC Comcast 38GHZ, Inc. Comcast A/TW...

  • Page 262
    ... Class Security, LLC Comcast Business Communications of Virginia, LLC Comcast Business Communications, LLC Comcast Cable Communications Canada, Inc. Comcast Cable Communications Holdings, LLC Comcast Cable Communications Management, LLC Comcast Cable Communications, LLC Comcast Cable EP Services...

  • Page 263
    ...LLC Comcast Directory Services, Inc. Comcast Encore, Inc. Comcast Entertainment Networks Holdings, LLC Comcast Financial Agency Corporation Comcast Florida Programming Investments, Inc. Comcast Funding I, Inc. Comcast Garden State, LLC Comcast Gary Holdings, LLC Comcast Gateway Holdings, LLC Comcast...

  • Page 264
    ... MO Group Funding, Inc. Comcast MO Group, Inc. Comcast MO Holdings I, LLC Comcast MO Holdings II, Inc. Comcast MO Information Technology Systems, Inc. Comcast MO Interactive Services, Inc. Comcast MO International Holdings II, Inc. Comcast MO International Programming, Inc. MO DE DE DE DE PA DE DE...

  • Page 265
    ..., LLC Comcast Nashville Finance Comcast National Communications Services, LLC Comcast Navy Acquisition, LLC Comcast Navy Contribution, LLC Comcast NCC Holdings I, LLC Comcast NCC Holdings II, LLC Comcast NCC Holdings III, LLC Comcast Netherlands, Inc. Comcast New Media Development, Inc. Comcast New...

  • Page 266
    ...Comcast of Baltimore City, LLC Comcast of Boston, Inc. Comcast of Brockton, Inc. Comcast of Bryant, Inc. Comcast of Burlington County, LLC Comcast of California I, Inc. Comcast of California II, Inc. Comcast of California II, LLC Comcast of California III, Inc. Comcast of California III, LLC Comcast...

  • Page 267
    ...Colorado XII, Inc. Comcast of Colorado, LP Comcast of Colorado/Florida, Inc. Comcast of Colorado/Pennsylvania/West Virginia, LLC Comcast of Connecticut II, Inc. Comcast of Connecticut, Inc. Comcast of Connecticut, LLC Comcast of Connecticut/Georgia/Massachusetts/New Hampshire/New York/North Carolina...

  • Page 268
    ... of Indianapolis, LLC Comcast of Inkster, LLC Comcast of Jersey City, LLC Comcast of Kentucky/Tennessee/Virginia, LLC Comcast of Laurel, Inc. Comcast of Lawrence, LLC Comcast of Levittown, LLC Comcast of Little Rock, Inc. Comcast of Lompoc, LLC Comcast of Long Beach Island, LLC Comcast of Louisiana...

  • Page 269
    ... Inc. Comcast of Mississippi Call Center, LLC Comcast of Missouri, LLC Comcast of Monmouth County, LLC Comcast of Montana I, Inc. Comcast of Montana II, Inc. Comcast of Montana III, Inc. Comcast of Mt. Clemens I, LLC Comcast of Mt. Clemens, LLC Comcast of Muncie, LLC Comcast of Muncie, LP Comcast of...

  • Page 270
    ..., Inc. Comcast of Southern New England, Inc. Comcast of Southern Tennessee, LLC Comcast of Spokane, LLC Comcast of St. Paul, Inc. Comcast of Sterling Heights, LLC Comcast of Tacoma, Inc. Comcast of Tallahassee, LLC Comcast of Taylor, LLC Comcast of Tennessee, LP Comcast of the District Holdings, Inc...

  • Page 271
    ...II, LLC Comcast Phone Management, LLC Comcast Phone of Alabama, LLC Comcast Phone of Arizona, LLC Comcast Phone of Arkansas, LLC Comcast Phone of California, LLC Comcast Phone of Central Indiana, LLC Comcast Phone of Colorado, LLC Comcast Phone of Connecticut, Inc. Comcast Phone of D.C., LLC Comcast...

  • Page 272
    ...New England Holdings, LLC Comcast SportsNet Philadelphia Holdings, LLC Comcast Spotlight Charter Cable Advertising, LP Comcast Spotlight JV Holdings, LLC Comcast Spotlight, LP Comcast STB Software DVR, LLC Comcast STB Software I, LLC Comcast STB Software II, LLC Comcast STB Software MOT, LLC Comcast...

  • Page 273
    ... Org State Comcast STB Software PM, LLC Comcast STB Software TW, LLC Comcast Studio Investments, Inc. Comcast Support Services, LLC Comcast TCP Holdings, Inc. Comcast TCP Holdings, LLC Comcast Technology, Inc. Comcast Telephony Communications of California, Inc. Comcast Telephony Communications...

  • Page 274
    ..., Inc. Elbert County Cable Partners, L.P. Entertainment Systems, LLC Equity Resources Venture Erdos LLC FAB Communications, Inc. Feedback Holdings, LLC First Television Corporation Flyers Atlantic City Youth Hockey Club, Inc. Flyers Skate Zone, L.P. Four Flags Cable TV Four Flags Cablevision FPS...

  • Page 275
    ... Inc. Home Sports Network, Inc. IEC License Holdings, Inc. In Demand L.L.C. Interactive Technology Services, Inc. Intermedia Cable Investors, LLC Iowa Hockey, LLC Jones Cable Corporation Jones Cable Holdings, LLC Jones Communications, Inc. Jones Intercable Funds, Inc. Jones Programming Services, Inc...

  • Page 276
    ... Inc. New England Microwave, LLC New Global Telecom, Inc. New Hope Cable TV, Inc. Next Pursuit, LLC Northwest Illinois Cable Corporation NROCA Holdings, Inc. One Belmont Insurance Company Ovations Fanfare, L.P. Ovations Food Services I, Inc. Ovations Food Services of Oklahoma City, LLC Ovations Food...

  • Page 277
    ...L.P. Storer Cable TV of Radnor, Inc. Storer Disbursements, Inc. Strata Marketing, Inc. StreamSage, Inc. Taurus Properties, LLC TCI Adelphia Holdings, LLC TCI Atlantic, LLC TCI Bay, Inc. TCI Cable Investments, LLC TCI Cablevision Associates Inc. TCI Cablevision of California Century Holdings, LLC TCI...

  • Page 278
    ... Internet Holdings, Inc. TCI Internet Services, LLC TCI IP-VI, LLC TCI IT Holdings, Inc. TCI Lake II, LLC TCI Lake, Inc. TCI Lenfest, Inc. TCI Magma Holdings, Inc. TCI Materials Management, Inc. TCI Michigan, Inc. TCI Microwave, Inc. TCI National Digital Television Center - Hong Kong, Inc. TCI New...

  • Page 279
    ...of Florida, LLC Televents of Powder River, LLC Televents of Wyoming, LLC Tempo DBS, Inc. Tempo Development Corporation TEMPO Television, Inc. ThaTrunk, Inc. The Comcast Foundation thePlatform for media, inc. thePlatform for Media, Pty Ltd thePlatform UK Limited thePlatform, Inc. Tribune-United Cable...

  • Page 280
    ...Insurance Co. Western Satellite 2, Inc. WestMarc Cable Holding, Inc. WestMarc Development II, Inc. WestMarc Development III, LLC WestMarc Development IV, LLC WestMarc Development, LLC WestMarc Realty, Inc. Westmoreland Financial Corporation Wilmington Cellular Telephone Company, LLC WLT Systems, LLC...

  • Page 281
    ...Films LLC Asia NBC (ANBC) Services LLC B.E Musical Limited Banderole Development LLC Barricade Productions Limited Barter Music LLC Battleship Australia Pty Ltd Battleship Delta Investments L.L.C. Battleship Delta Productions L.L.C. Battleship LLC Beach City Productions LLC Beautiful Day Productions...

  • Page 282
    ... Holding LLC CNBC.com LLC CNBC/MSNBC, L.L.C. Comcast Amateur Sports, LLC Comcast Children's Network Holdings, LLC Comcast Entertainment Productions, LLC Comcast Hockey, LLC Comcast Horror Entertainment Holdings, LLC Comcast MO Cable News, LLC Comcast NECN Holdings, LLC Comcast Programming Management...

  • Page 283
    ..., LLC Comcast SportsNet Philadelphia, L.P. Comcast WG, LLC Compound Films (US) LLC Compound Films Limited Corpus Vivos Productions LLC CP Entertainment Services LLC Crater Lake Productions LLC Crazy Hill Productions Inc. Creative Park Productions LLC Creative Screen Productions LLC Creative Writing...

  • Page 284
    ..., LLC Exercise TV LLC Exhibition Music LLC Exmont Productions LLC Exposure Studios, LLC Fairest Films LLC Fandango Marketing, LLC Fandango, LLC Fantail Funding LLC Far North Entertainment Holdings, Inc. Farraday Films (UK) Limited Farraday Films Investments LLC Farraday Films LLC Fast Productions...

  • Page 285
    .... ID Theft Films LLC IFH-U Holding B.V. Illumination Mac Guff Imagine Films Entertainment LLC Incuborn Solutions, LLC Infobonn Text-, Informations- und Pressebüro Verwaltungsgesellschaft mbH Inheritance Pictures Limited Inittowinit LLC Intelligence Films Limited Interactive Business News Video LLC...

  • Page 286
    ... LLC Love Minky Television Development Inc. Lucky Cricket Productions LLC LX Networks LLC Mammoth Films LLC Marital Assets, LLC Matchbox Pictures Pty Ltd Matchbox Productions Pty Ltd MCA Toys Holdings LLC MCA Toys LLC McPhee Farmyard Productions Limited Memory Productions LLC Merchandising Company...

  • Page 287
    ...UNIVERSAL Films GmbH Music of Syfy Channel LLC Music of USA Cable Entertainment LLC Music of USA Network LLC Musica Telemundo, LLC Must See Music LLC MW Sports Holdings, LLC NATV Sales LLC NATV Sub LLC NBC (UK) Holdings Limited NBC Cable Holding LLC NBC Desktop LLC NBC Digital Health Network LLC NBC...

  • Page 288
    ... LLC NBC Telemundo License LLC NBC Telemundo LLC NBC Television Investments BV NBC TV Stations Sales & Marketing LLC NBC Universal (Singapore) Holdings I Pte. Ltd. NBC Universal (Singapore) Holdings II Pte. Ltd. NBC Universal Digital Solutions LLC NBC Universal Global Networks Australia (Services...

  • Page 289
    ... Programming Inc. Northern Entertainment Productions LLC Nueva Granada Investments, LLC Nuevo Mundo Music LLC NWI Network LLC O2 Holdings, LLC O2 Music, LLC October Films LLC OFI Holdings LLC Online Games LLC Open 4 Business Productions LLC Original Content Productions LLC Outlet Broadcasting LLC...

  • Page 290
    ... Paqu Films LLC Parks Holdings Acquisition LLC Parks Holdings Acquisition Sub LLC PE Productions LLC Pennebaker LLC PG Cable Channel Company LLC PG Filmed Entertainment LLC PG Television LLC Phenomenon Pictures Limited Prandial Productions LLC Private Productions Limited Producer Services Holdings...

  • Page 291
    ... Services Limited Speechless Features Limited Spirit Board Productions LLC Sports Ventures Sub LLC SportsChannel New England LLC SportsChannel Pacific Associates Sprout Michigan Productions, LLC St. Cloud Productions LLC St. Giles LLC St. Louis Productions LLC Stamford Media Center & Productions LLC...

  • Page 292
    ... Studios Productions LLLP Universal City Travel Partners Universal Film Exchanges Holdings II LLC Universal Film Exchanges LLC Universal Films of India B.V. Universal First-Run Productions LLC Universal First-Run Television LLC Universal HD LLC United States - Delaware United States - California...

  • Page 293
    ... Productions LLC Universal Home Entertainment Worldwide LLC Universal Interactive Entertainment LLC Universal International Films LLC Universal International Television Services Limited Universal Media Studios International Limited Universal Network Programming LLC Universal Network Television LLC...

  • Page 294
    ... LLC Universal Studios Digital Cinema Ventures, LLC Universal Studios Dubai Planning Services LLC Universal Studios Enterprises LLC Universal Studios Film Production LLC Universal Studios Fitness Center LLC Universal Studios Home Entertainment LLC Universal Studios Home Entertainment Productions LLC...

  • Page 295
    ... LLC Universal TV Pictures LLC Universal TV Talk Video LLC Universal VOD Venture Holdings LLC Universal Worldwide Television LLC UPI Development LLC UPI Productions LLC USA Brasil Enterprise LLC USA Brasil Holdings L.L.C. USA Cable Entertainment LLC USA Cable Entertainment Publishing LLC USA Network...

  • Page 296
    ... Productions LLC WKAQ Holdings LLC WKAQ of Puerto Rico Holdings I, Inc. WKAQ of Puerto Rico Holdings II, Inc. WNJU-TV Broadcasting LLC Wolf Man Productions Limited Women.com Networks LLC Working Title Films Limited Working Title Group LLC Working Title Music Limited Working Title Production Services...

  • Page 297
    WT Venture LLC WT2 Limited Xoom.com LLC Your Total Health LLC ZAP Television Beteiligungs GmbH ZAP Television GmbH & Co. KG United States - Delaware United Kingdom - England & Wales United States - Delaware United States - Delaware Germany Germany

  • Page 298
    ... and financial statement schedule of Comcast Corporation, and the effectiveness of Comcast Corporation's internal control over financial reporting, appearing in this Annual Report on Form 10-K of Comcast Corporation for the year ended December 31, 2012. / S / D ELOITTE & T OUCHE LLP Philadelphia...

  • Page 299
    ... or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. b) Date: February 20, 2013 / S / B RIAN L. R OBERTS Name: Brian L. Roberts Title: Chief Executive Officer Comcast 2012 Annual Report on Form 10-K

  • Page 300
    ...material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. b) Date: February 20, 2013 / S / M ICHAEL J. A NGELAKIS Name: Michael J. Angelakis Title: Chief Financial Officer Comcast 2012 Annual Report on Form 10-K

  • Page 301
    ... Annual Report on Form 10-K of Comcast Corporation (the "Report") for the purpose of complying with Rule 13a-14(b) or Rule 15d-14(b) of the Securities Exchange Act of 1934 (the "Exchange Act") and Section 1350 of Chapter 63 of Title 18 of the United States Code. Brian L. Roberts, the Chief Executive...