Comcast 2013 Annual Report Download - page 102

Table of Contents
Comcast Corporation
Acquisitions of Real Estate Properties
Real estate acquisitions for 2013 primarily included NBCUniversal’
s purchase from GE of certain properties NBCUniversal occupies
at 30 Rockefeller Plaza in New York City and CNBC’
s headquarters in Englewood Cliffs, New Jersey. The CNBC property was
previously recorded as a capital lease in our consolidated balance sheet. Other acquisitions included NBCUniversal’
s purchase in
September 2013 of a business whose primary asset is a property located at 10 Universal City Plaza, which is adjacent to Universal
Studios in Hollywood, California, and Comcast’
s purchase in December 2013 of an 80% interest in a business whose primary asset
is our corporate headquarters in Philadelphia, Pennsylvania. These purchases resulted in increases of $2.2 billion in property and
equipment which are included, as applicable, within the captions “buildings and leasehold improvements” and “land”
in the table
above.
Note 8: Goodwill and Intangible Assets
Goodwill
We assess the recoverability of our goodwill annually, or more frequently whenever events or substantive changes in
circumstances indicate that the carrying amount of a reporting unit may exceed its fair value. We test goodwill for impairment at the
reporting unit level. To determine our reporting units, we evaluate the components one level below the segment level and we
aggregate the components if they have similar economic characteristics. As a result of this assessment, our reporting units are the
same as our five reportable segments. We evaluate the determination of our reporting units used to test for impairment periodically
or whenever events or substantive changes in circumstances occur. The assessment of recoverability may first consider qualitative
factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that
the fair value of a reporting unit is less than its carrying amount. A quantitative assessment is performed if the qualitative
assessment results in a more-likely-than-
not determination or if a qualitative assessment is not performed. The quantitative
assessment considers if the carrying amount of a reporting unit exceeds its fair value, in which case an impairment charge is
recorded to the extent the carrying amount of the reporting unit’
s goodwill exceeds its implied fair value. Unless presented
separately, the impairment charge is included as a component of amortization expense.
NBCUniversal
(in millions)
Cable
Communications
Cable
Networks
Broadcast
Television
Filmed
Entertainment
Theme
Parks
Corporate
and Other
Total
Balance, December 31, 2011
$
12,208
$
12,744
$
772
$
1
$
1,140
$
9
$
26,874
Acquisitions:
MSNBC.com
—
227
—
—
—
—
227
Other
—
79
—
—
—
—
79
Dispositions
(1
)
— —
—
—
—
(
1
)
Adjustments
(1
)
(24
)
(11
)
—
(
158
)
—
(
194
)
Balance, December 31, 2012
12,206
13,026
761
1
982
9
26,985
Acquisitions
—
39
3
—
—
—
42
Adjustments
—
65
5
—
—
1
71
Balance, December 31, 2013
$
12,206
$
13,130
$
769
$
1
$
982
$
10
$
27,098
(a)
Adjustments to goodwill in 2013 were primarily related to an immaterial correction to the allocation of purchase price associated with the NBCUniversal transaction.
Adjustments to goodwill in 2012 were primarily related to the adjustments to the allocation of purchase price associated with the Universal Orlando transaction in 2011.
97
Comcast 2013 Annual Report on Form 10
-
K
(a)
(a)