Comcast 2013 Annual Report Download - page 96

Table of Contents
Comcast Corporation
We agreed to share with GE certain tax benefits as they are realized that relate to the form and structure of the transaction. These
payments to GE are contingent on us realizing tax benefits in the future and are accounted for as contingent consideration. See
Note 10 for additional information on our contingent consideration liability.
Universal Orlando Transaction
On July 1, 2011, NBCUniversal acquired the remaining 50% equity interest in Universal Orlando that it did not already own for $1
billion. Following the close of the transaction, Universal Orlando is a wholly owned consolidated subsidiary of NBCUniversal, and its
operations are reported in our Theme Parks segment. We recorded $982 million of goodwill in our allocation of purchase price for
this transaction, which was fully allocated to our Theme Parks segment.
Note 5: Film and Television Costs
Based on our estimates of the ratio of the current period’
s actual revenue to the estimated total remaining gross revenue from all
sources (“ultimate revenue”),
as of December 31, 2013, approximately $1.3 billion of film and television costs associated with our
original film and television productions that have been released, or completed and not yet released, are expected to be amortized
during 2014. Approximately 85% of unamortized film and television costs for our released productions, excluding amounts allocated
to acquired libraries, are expected to be amortized through 2016.
As of December 31, 2013, acquired film and television libraries, which are included within the “released, less amortization”
captions
in the table above, had remaining unamortized costs of $711 million. These costs are generally amortized over a period not to
exceed 20 years, and approximately 49% of these costs are expected to be amortized through 2016.
Capitalization of Film and Television Costs
We capitalize film and television production costs, including direct costs, production overhead, print costs, development costs and
interest. We amortize capitalized film and television production costs, including acquired libraries, and accrue costs associated with
participation and residual payments to programming and production expense. We generally record the amortization and the
accrued costs using the individual film forecast computation method, which amortizes such costs in the same ratio as the
associated ultimate rev-
December 31 (in millions)
2013
2012
Film Costs:
Released, less amortization
$
1,630
$
1,472
Completed, not released
70
99
In production and in development
658
1,048
2,358
2,619
Television Costs:
Released, less amortization
1,155
1,124
In production and in development
370
334
1,525
1,458
Programming rights, less amortization
2,039
1,886
5,922
5,963
Less: Current portion of programming rights
928
909
Film and television costs
$
4,994
$
5,054
91
Comcast 2013 Annual Report on Form 10
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