Comcast 2013 Annual Report Download - page 172

Table of Contents
NBCUniversal Media, LLC
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 for the period January 29, 2011 to December 31, 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
for the period January 29, 2011 to December 31, 2011, we recorded $116 million, $90 million and $89 million, respectively, of
severance costs.
Note 12: Equity
NBCUniversal Holdings has caused us and will continue to cause us to make distributions or loans to NBCUniversal Holdings to
meet its cash requirements. These requirements include an obligation to make distributions on a quarterly basis to enable Comcast
to meet its obligations to pay taxes on taxable income generated by our businesses and quarterly payments from NBCUniversal
Holdings to NBCUniversal Enterprise on the liquidation preference of its preferred units. During 2013, 2012 and the period
January 29, 2011 through December 31, 2011, we made distributions to NBCUniversal Holdings of $1.4 billion, $964 million and
$244 million, respectively. In addition, we also made a distribution of $3.2 billion to NBCUniversal Holdings to fund a portion of the
Redemption Transaction. This distribution is presented separately on our consolidated statement of cash flows.
In the Predecessor period ended January 28, 2011, we distributed $7.4 billion to GE prior to the close of the Joint Venture
transaction.
Accumulated Other Comprehensive Income (Loss)
Successor
December 31 (in millions)
2013
2012
Deferred gains (losses) on cash flow hedges
$
(5
)
$
—
Unrecognized gains (losses) on employee benefit obligations
45
(50
)
Cumulative translation adjustments
(56
)
(15
)
Accumulated other comprehensive income (loss), net of deferred taxes
$
(16
)
$
(65
)
167
Comcast 2013 Annual Report on Form 10
-
K