Comcast 2013 Annual Report Download - page 90

Table of Contents
Comcast Corporation
Notes to Consolidated Financial Statements
Note 1: Business and Basis of Presentation
We are a global media and technology company with two primary businesses, Comcast Cable and NBCUniversal. We were
incorporated under the laws of Pennsylvania in December 2001. Through our predecessors, we have developed, managed and
operated cable systems since 1963. In 2011, we closed the NBCUniversal transaction in which we acquired control of the
businesses of NBCUniversal Media, LLC (“NBCUniversal”), and in 2013, we acquired GE’
s remaining 49% common equity interest
in NBCUniversal.
We present our operations for Comcast Cable in one reportable business segment, referred to as Cable Communications, and our
operations for NBCUniversal in four reportable business segments. The Cable Networks, Broadcast Television, Filmed
Entertainment and Theme Parks segments comprise the NBCUniversal businesses and are collectively referred to as the
NBCUniversal segments. See Note 19 for additional information on our reportable business segments.
Our Cable Communications segment primarily manages and operates cable systems that serve residential and business customers
in the United States. As of December 31, 2013, we served 21.7 million video customers, 20.7 million high-
speed Internet customers
and 10.7 million voice customers.
Our Cable Networks segment consists primarily of a diversified portfolio of cable television networks. Our cable networks are
comprised of our national cable networks, which provide a variety of entertainment, news and information and sports content, our
regional sports and news networks, our international cable networks, and our cable television production operations.
Our Broadcast Television segment consists primarily of the NBC and Telemundo broadcast networks, our NBC and Telemundo
owned local television stations, and our broadcast television production operations.
Our Filmed Entertainment segment primarily produces, acquires, markets and distributes filmed entertainment worldwide. Our films
are produced primarily under the Universal Pictures, Focus Features and Illumination names.
Our Theme Parks segment consists primarily of our Universal theme parks in Orlando and Hollywood. We also receive fees from
third parties that own and operate Universal Studios Japan and Universal Studios Singapore for intellectual property licenses and
other services.
Our other business interests primarily include Comcast-
Spectacor, which owns the Philadelphia Flyers and the Wells Fargo Center
arena in Philadelphia and operates arena management-related businesses.
Basis of Presentation
The accompanying consolidated financial statements include all entities in which we have a controlling voting interest
(“subsidiaries”) and variable interest entities (“VIEs”)
required to be consolidated in accordance with generally accepted accounting
principles in the United States (“GAAP”).
We translate assets and liabilities of our foreign subsidiaries where the functional currency is the local currency, primarily the euro
and the British pound, into U.S. dollars at the exchange rate in effect as of the balance sheet date. The related translation
adjustments are recorded as a component of accumulated other comprehensive income (loss). We translate revenue and
expenses using average monthly exchange rates, and the related foreign currency transaction gains and losses are included in our
consolidated statement of income.
Reclassifications
Reclassifications have been made to our consolidated financial statements for the prior years to conform to classifications used in
2013.
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Comcast 2013 Annual Report on Form 10
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K