Comcast 2013 Annual Report Download - page 104

Table of Contents
Comcast Corporation
Finite-Lived Intangible Assets
Estimated Amortization Expense of Finite-Lived Intangibles
Finite-
lived intangible assets are subject to amortization and consist primarily of customer relationships acquired in business
combinations, cable franchise renewal costs, contractual operating rights, intellectual property rights and software. Our finite-
lived
intangible 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 devoting time to these software projects. We also capitalize costs associated with the
purchase of software licenses. We include these costs in other intangible assets and amortize them on a straight-
line basis over a
period not to exceed five years. We expense maintenance and training costs, as well as costs incurred during the preliminary stage
of a project, as they are incurred. We capitalize initial operating system software costs and amortize them over the life of the
associated hardware.
We evaluate the recoverability of our intangible assets subject to amortization whenever events or substantive changes in
circumstances indicate that the carrying amount may not be recoverable. The evaluation is based on the cash flows generated by
the underlying asset groups, including estimated future operating results, trends or other determinants of fair value. If the total of the
expected future undiscounted cash flows were less than the carrying amount of the asset group, we would recognize an impairment
charge to the extent the carrying amount of the asset group exceeded its estimated fair value. Unless presented separately, the
impairment charge is included as a component of amortization expense.
Note 9: Long-Term Debt
Long-Term Debt Outstanding
(in millions)
2014
$
1,487
2015
$
1,345
2016
$
1,196
2017
$
1,046
2018
$
893
December 31 (in millions)
Weighted-
Average
Interest Rate as of
December 31,
2013
2013
2012
Commercial paper
0.295
%
$
1,350
$
—
Revolving bank credit facilities
1.166
%
1,250
—
Senior notes with maturities of 5 years or less
4.718
%
15,080
12,991
Senior notes with maturities between 6 and 10 years
4.558
%
11,533
10,334
Senior notes with maturities greater than 10 years
5.971
%
18,010
16,801
Other, including capital lease obligations —
624
332
Total debt
4.80
%
47,847
40,458
Less: Current portion
3,280
2,376
Long
-
term debt
$
44,567
$
38,082
(a)
Both the December 31, 2013 and 2012 amounts include £625 million of 5.50% notes due 2029 translated at $1 billion, using the exchange rates as of these dates.
(b)
Includes the effects of our derivative financial instruments.
99
Comcast 2013 Annual Report on Form 10-
K
(a)
(b)