Comcast 2014 Annual Report Download - page 115

Table of Contents
Comcast Corporation
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. In 2014, 2013 and 2012,
we recorded severance costs of $152 million, $160 million and $155 million, respectively.
Note 13: Equity
Common Stock
In the aggregate, holders of our Class A common stock have 66 /
% of the voting power of our common stock and holders of our
Class B common stock have 33 /
% of the voting power of our common stock. Our Class A Special common stock is generally
nonvoting. Each share of our Class B common stock is entitled to 15 votes. The number of votes held by each share of our Class A
common stock depends on the number of shares of Class A and Class B common stock outstanding at any given time. The 33 /
% aggregate voting power of our Class B common stock cannot be diluted by additional issuances of any other class of common
stock. Our Class B common stock is convertible, share for share, into Class A or Class A Special common stock, subject to certain
restrictions.
Shares of Common Stock Outstanding
Share Repurchases
As of December 31, 2014, we had $3.25 billion of availability remaining under the $7.5 billion share repurchase authorization
approved by our Board of Directors in 2014.
In February 2015, our Board of Directors increased our share repurchase program authorization to $10 billion, which does not have
an expiration date. Under this authorization, we may repurchase shares in the open market or in private transactions.
Share Repurchases
(in millions)
A
A Special
B
Balance, December 31, 2011
2,095
601
9
Stock compensation plans
24
3
—
Repurchases and retirements of common stock — (
96
)
—
Employee stock purchase plans
3
— —
Balance, December 31, 2012
2,122
508
9
Stock compensation plans
14
—
—
Repurchases and retirements of common stock
—
(
49
)
—
Employee stock purchase plans
2
—
—
Balance, December 31, 2013
2,138
459
9
Stock compensation plans
13
—
—
Repurchases and retirements of common stock
(22
)
(59
)
—
Employee stock purchase plans
2
—
—
Balance, December 31, 2014
2,131
400
9
Year ended December 31 (in millions)
2014
2013
2012
Cash consideration
$
4,251
$
2,000
$
3,000
Shares repurchased
81
49
96
Comcast 2014 Annual Report on Form 10
-
K
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