Comcast 2013 Annual Report Download - page 174

Table of Contents
NBCUniversal Media, LLC
Note 14: Income Taxes
Components of Income Tax Expense
We are a limited liability company, and our company is disregarded for U.S. federal income tax purposes as an entity separate from
NBCUniversal Holdings, a tax partnership. NBCUniversal and our subsidiaries are not expected to incur any significant current or
deferred U.S. domestic income taxes. Our tax liability is comprised primarily of withholding tax on foreign licensing activity and
income taxes on foreign earnings. As a result of our tax status, the deferred tax assets and liabilities included in our consolidated
balance sheet at December 31, 2013 and 2012 were not material.
In jurisdictions in which we are subject to income taxes, we base our provision for income taxes on our current period income,
changes in our deferred income tax assets and liabilities, income tax rates, changes in estimates of our uncertain tax positions, and
tax planning opportunities available in the jurisdictions in which we operate. We recognize deferred tax assets and liabilities when
there are temporary differences between the financial reporting basis and tax basis of our assets and liabilities and for the expected
benefits of using net operating loss carryforwards. When a change in the tax rate or tax law has an impact on deferred taxes, we
apply the change based on the years in which the temporary differences are expected to reverse. We record the change in our
consolidated financial statements in the period of enactment.
We classify interest and penalties, if any, associated with our uncertain tax positions as a component of income tax expense.
Uncertain Tax Positions
We retain liabilities for uncertain tax positions where we are the tax filer of record. GE and Comcast have indemnified
NBCUniversal Holdings and us with respect to our income tax obligations attributable to periods prior to the close of the Joint
Venture transaction, including indemnification of uncertain tax positions relating to filings made prior to the close of the Joint
Venture transaction. The liabilities for uncertain tax positions included in our consolidated balance sheet were not material as of
December 31, 2013 and 2012.
Various domestic and foreign taxing authorities are examining our tax returns through 2012. The majority of the periods under
examination relate to tax years 2004 and forward. All periods prior to January 28, 2011 that are subject to audit are covered by the
indemnification from GE or Comcast.
Successor
(in millions)
Year Ended
December 31,
2013
Year Ended
December 31,
2012
For the Period January 29,
2011 to December 31,
2011
Foreign
Current income tax expense
$
77
$
69
$
53
Deferred income tax expense
(16
)
16
29
Withholding tax expense
123
103
100
U.S. domestic tax expense
22
9
3
Income tax expense
$
206
$
197
$
185
169
Comcast 2013 Annual Report on Form 10
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