Comcast 2013 Annual Report Download - page 108

Table of Contents
Comcast Corporation
Changes in Contractual Obligations and Contingent Consideration
Nonrecurring Fair Value Measures
We have assets and liabilities that are required to be recorded at fair value on a nonrecurring basis when certain circumstances
occur. In the case of film or stage play production costs, upon the occurrence of an event or change in circumstance that may
indicate that the fair value of a production is less than its unamortized costs, we determine the fair value of the production and
record an adjustment for the amount by which the unamortized capitalized costs exceed the production’
s fair value. The estimate of
fair value of a production is determined using Level 3 inputs, primarily an analysis of future expected cash flows. Adjustments to
capitalized film and stage play production costs of $167 million and $161 million were recorded in 2013 and 2012, respectively.
Note 11: Noncontrolling Interests
Certain of the subsidiaries that we consolidate are not wholly owned. Some of the agreements with the minority partners of these
subsidiaries contain redemption features whereby interests held by the minority partners are redeemable either (i) at the option of
the holder or (ii) upon the occurrence of an event that is not solely within our control. If interests were to be redeemed under these
agreements, we would generally be required to purchase the interest at fair value on the date of redemption. These interests are
presented on the balance sheet outside of equity under the caption “
redeemable noncontrolling interests and redeemable
subsidiary preferred stock.” Noncontrolling interests that do not contain such redemption features are presented in equity.
We acquired GE’
s remaining 49% common equity interest in NBCUniversal Holdings, which had previously been presented as a
redeemable noncontrolling interest in our consolidated balance sheet. See Note 4 for additional information on the Redemption
Transaction. The difference between the consideration transferred and the recorded value of GE’
s 49% redeemable noncontrolling
common equity interest, as well as the related tax impacts, were recorded to additional paid-
in capital. The table below includes the
impact of the Redemption Transaction on our changes in equity.
Changes in Equity
(in millions)
Contractual
Obligations
Contingent
Consideration
Balance, December 31, 2012
$
1,055
$
587
Fair value adjustments
158
106
Payments
(83
)
(214
)
Redemption Transaction (see Note 4 for additional information) —
205
Liberty Media transaction (see Note 6 for additional information)
(383
)
—
Balance, December 31, 2013
$
747
$
684
Year ended December 31 (in millions)
2013
Net income attributable to Comcast Corporation
$
6,816
Transfers from (to) noncontrolling interests:
Decrease in Comcast Corporation additional paid-in capital resulting from the purchase of GE’s redeemable
noncontrolling common equity interest
(1,651
)
Other
(26
)
Changes in equity resulting from net income attributable to Comcast Corporation and transfers from (to) noncontrolling
interests
$
5,139
103
Comcast 2013 Annual Report on Form 10
-
K