Comcast 2013 Annual Report Download - page 75

Table of Contents
Share Repurchases and Dividends
In 2013, we repurchased 49 million shares of our Class A Special common stock for $2.0 billion. As of December
31, 2013, we had
$1.5 billion remaining under this authorization.
In January 2014, our Board of Directors increased our share repurchase program authorization to $7.5 billion, which does not have
an expiration date. Under this authorization, we may repurchase shares in the open market or in private transactions. We intend to
repurchase $3 billion of shares during 2014, subject to market conditions.
Our Board of Directors declared quarterly dividends totaling $2.0 billion in 2013. We paid dividends of $2.0 billion in 2013. In
January 2014, our Board of Directors approved a 15% increase in our dividend to $0.90 per share on an annualized basis and
approved our first quarter dividend of $0.225 per share to be paid in April 2014. We expect to continue to pay quarterly dividends,
although each dividend is subject to approval by our Board of Directors.
The table below sets forth information on our share repurchases and dividends paid in 2013, 2012 and 2011.
Contractual Obligations
The table below presents our future contractual obligations as of December 31, 2013 by the period in which the payments are due.
Refer to Note 9 (long-term debt) and Note 18 (commitments and contingencies) to our consolidated financial statements.
Payment Due by Period
(in millions)
Total
Year 1
Years 2-
3
Years 4-
5
More than 5
Debt obligations
$
47,810
$
3,273
$
6,910
$
7,946
$
29,681
Capital lease obligations
37
7
11
5
14
Operating lease obligations
2,144
385
628
458
673
Purchase obligations
46,867
8,434
9,488
7,573
21,372
Other long-term liabilities reflected on the balance sheet
10,184
3,674
1,757
814
3,939
Total
$
107,042
$
15,773
$
18,794
$
16,796
$
55,679
(a)
Excludes interest payments.
(b)
Purchase obligations consist of agreements to purchase goods and services that are legally binding on us and specify all significant terms, including fixed or minimum
quantities to be purchased and price provisions. Our purchase obligations related to our Cable Communications segment include programming contracts with cable
networks and local broadcast television stations, contracts with customer premise equipment manufacturers, communication vendors and multichannel video providers for
which we provide advertising sales representation, and other contracts entered into in the normal course of business. Cable Communications programming contracts in
the table above include amounts payable under fixed or minimum guaranteed commitments and do not represent the total fees that are expected to be paid under
programming contracts, which we expect to be higher because these contracts are generally based on
Comcast 2013 Annual Report on Form 10
-
K
70
(a)
(b)
(c)
(d)