Comcast 2012 Annual Report Download - page 88

Table of Contents
Note 3: Earnings Per Share
Computation of Diluted EPS
Our potentially dilutive securities include potential common shares related to our stock options and our restricted share units
(“RSUs”). Diluted earnings per common share attributable to Comcast Corporation shareholders (“diluted EPS”)
considers the impact
of potentially dilutive securities using the treasury stock method. Diluted EPS excludes the impact of potential common shares
related to our stock options in periods in which the option exercise price is greater than the average market price of our Class A
common stock or our Class A Special common stock, as applicable.
Diluted EPS for 2012, 2011 and 2010 excludes 1 million, 45 million and 168 million, respectively, of potential common shares related
to our share-
based compensation plans, because the inclusion of the potential common shares would have had an antidilutive effect.
Note 4: Acquisitions
NBCUniversal Transaction
On January 28, 2011, we closed our transaction with GE to form a new company named NBCUniversal, LLC (“
NBCUniversal
Holdings”).
We now control and own 51% of NBCUniversal Holdings, and GE owns the remaining 49%. As part of the NBCUniversal
transaction, GE contributed the businesses of NBCUniversal, which is a wholly owned subsidiary of NBCUniversal Holdings. We
contributed our national 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. We have received and expect to continue to receive tax benefits
related to the transaction and have agreed to share with GE certain of these future tax benefits as they are realized.
Under the terms of the operating agreement of NBCUniversal Holdings, during the six month period beginning on July 28, 2014, GE
has the right to cause NBCUniversal Holdings to redeem, in cash, half of GE’
s interest in NBCUniversal Holdings, and we would
have the immediate right to purchase the remainder of GE’
s interest. If, however, we elect not to exercise this right, during the six
month period beginning January 28, 2018, GE has the right to cause NBCUniversal Holdings to redeem GE’
s remaining interest, if
any. If GE does not exercise its first redemption right, we have the right, during the six month period beginning January 28, 2016, to
purchase half of GE’s interest in NBCUniversal Holdings, and during the six month period beginning
2012
2011 2010
Year ended December 31
(in millions, except per share data)
Net Income
Attributable
to Comcast
Corporation
Shares
Per Share
Amount
Net Income
Attributable
to Comcast
Corporation
Shares
Per Share
Amount
Net Income
Attributable
to Comcast
Corporation
Shares
Per Share
Amount
Basic EPS attributable to Comcast Corporation
shareholders
$
6,203
2,678
$
2.32
$
4,160
2,746
$
1.51
$
3,635
2,808
$
1.29
Effect of dilutive securities:
Assumed exercise or issuance of shares relating
to stock plans
39
32
12
Diluted EPS attributable to Comcast Corporation
shareholders
$
6,203
2,717
$
2.28
$
4,160
2,778
$
1.50
$
3,635
2,820
$
1.29
85
Comcast 2012 Annual Report on Form 10-
K