Comcast 2013 Annual Report Download - page 111

Table of Contents
Comcast Corporation
The table below presents the benefit obligation and expenses related to our split-dollar life insurance agreements.
Multiemployer Benefit Plans
We also participate in various multiemployer pension and other postretirement benefit plans through the activities of NBCUniversal
that cover some of our employees and temporary employees who are represented by labor unions. We make periodic contributions
to these plans in accordance with the terms of applicable collective bargaining agreements and laws but do not sponsor or
administer these plans. We do not participate in any multiemployer benefit plans for which we consider our contributions to be
individually significant, and the largest plans in which we participate are funded at a level of 80% or greater. In 2013, 2012 and
2011, the total contributions we made to multiemployer pension and other postretirement benefit plans were $66 million, $53 million
and $42 million, respectively.
If we cease to be obligated to make contributions or otherwise withdraw from participation in any of these plans, applicable law
requires us to fund our allocable share of the unfunded vested benefits, which is known as a withdrawal liability. In addition, actions
taken by other participating employers may lead to adverse changes in the financial condition of one of these plans, which could
result in an increase in our withdrawal liability.
Severance Benefits
We provide severance benefits to certain former employees. A liability is recorded for benefits provided when payment is probable,
the amount is reasonably estimable, and the obligation relates to rights that have vested or accumulated. During 2013, 2012 and
2011, we recorded $160 million, $155 million and $128 million, respectively, of severance costs.
Note 13: Equity
Common Stock
In the aggregate, holders of our Class A common stock have 66 /
% of the voting power of our common stock and holders of our
Class B common stock have 33 /
% 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 15 votes. The number of votes held by each share of our Class A
common stock depends on the number of shares of Class A and Class B common stock outstanding at any given time. The 33 /
% aggregate voting power of our Class B common stock cannot be diluted by additional issuances of any other class of common
stock. Our Class B common stock is convertible, share for share, into Class A or Class A Special common stock, subject to certain
restrictions.
Year ended December 31 (in millions)
2013
2012
2011
Benefit obligation
$
212
$
202
$
169
Other operating and administrative expenses
$
50
$
58
$
27
Comcast 2013 Annual Report on Form 10
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K
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