Comcast 2014 Annual Report Download - page 121

Table of Contents
Comcast Corporation
During 2013:
During 2012:
Note 17: Commitments and Contingencies
Commitments
NBCUniversal enters into long-
term commitments with third parties in the ordinary course of its business, including commitments to
acquire film and television programming, creative talent and employment agreements, and various other television-
related
commitments. Many of NBCUniversal’
s employees, including writers, directors, actors, technical and production personnel, and
others, as well as some of its on-
air and creative talent, are covered by collective bargaining agreements or works councils. As of
December 31, 2014, the total number of NBCUniversal full-time, part-
time and hourly employees on its payroll covered by collective
bargaining agreements was 7,400 full-time equivalent employees. Of this total, approximately 30% of these full-
time equivalent
employees were covered by collective bargaining agreements that have expired or are scheduled to expire during 2015.
We, through Comcast-
Spectacor, have employment agreements with both players and coaches of the Philadelphia Flyers. Certain
of these employment agreements, which provide for payments that are guaranteed regardless of employee injury or termination,
are covered by disability insurance if certain conditions are met.
•
we acquired GE
’
s 49% common equity interest in NBCUniversal Holdings that we did not already own for
total consideration of $16.7 billion, which included noncash consideration of $6 billion that was comprised
of $4 billion aggregate principal amount of senior notes issued by NBCUniversal Enterprise, $1.25 billion
of borrowings under NBCUniversal Enterprise’
s credit facility and $725 million aggregate liquidation
preference of NBCUniversal Enterprise Series A cumulative preferred stock (see Note 5 for additional
information on the NBCUniversal redemption transaction)
•
we acquired $872 million of property and equipment and intangible assets that were accrued but unpaid
•
we recorded a liability of $509 million for a quarterly cash dividend of $0.195 per common share paid in
January 2014
•
we used $1.4 billion of equity securities to settle a portion of our obligations under prepaid forward sale
agreements
•
we closed a transaction with Liberty Media that included, among other things, the delivery of Liberty
Media shares owned by us in exchange for Liberty Media’s interests in one of NBCUniversal’
s
contractual obligations (see Note 7 for additional information)
•
we acquired $757 million of property and equipment and intangible assets that were accrued but unpaid
•
we recorded a liability of $430 million for a quarterly cash dividend of $0.1625 per common share paid in
January 2013
•
NBCUniversal entered into a capital lease transaction that resulted in an increase in property and
equipment and debt of $85 million
Comcast 2014 Annual Report on Form 10
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