Comcast 2013 Annual Report Download - page 166

Table of Contents
NBCUniversal Media, LLC
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 four 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.
Intangible Assets
Successor (in millions)
Cable
Networks
Broadcast
Television
Filmed
Entertainment
Theme
Parks
Total
Balance, December 31, 2011
$
12,744
$
772
$
1
$
1,140
$
14,657
Acquisitions:
MSNBC.com
227
—
—
—
227
Other
79
—
—
—
79
Adjustments
(24
)
(11
)
—
(
158
)
(193
)
Balance, December 31, 2012
13,026
761
1
982
14,770
Acquisitions
39
3
—
—
42
Adjustments
65
5
—
—
70
Balance, December 31, 2013
$
13,130
$
769
$
1
$
982
$
14,882
(a)
Adjustments to goodwill in 2013 were primarily related to an immaterial correction to the allocation of purchase price associated with the Joint Venture 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.
Successor
2013
2012
December 31 (in millions)
Weighted-
Average
Original Useful Life
as of December 31, 2013
Gross
Carrying
Amount
Accumulated
Amortization
Gross
Carrying
Amount
Accumulated
Amortization
Finite
-
Lived Intangible Assets:
Customer relationships
19 years
$
13,086
$
(2,982
)
$
13,026
$
(2,328
)
Software
5 years
522
(240
)
409
(164
)
Other
21 years
1,511
(781
)
1,507
(746
)
Indefinite
-
Lived Intangible Assets:
Trade names
3,089
3,080
FCC licenses
652
636
Total
$
18,860
$
(4,003
)
$
18,658
$
(3,238
)
161
Comcast 2013 Annual Report on Form 10
-
K
(a)
(a)