Comcast 2014 Annual Report Download - page 126

Table of Contents
Comcast Corporation
Note 19: Quarterly Financial Information (Unaudited)
(g)
We use operating income (loss) before depreciation and amortization, excluding impairment charges related to fixed and intangible assets and gains or losses from the
sale of assets, if any, as the measure of profit or loss for our operating segments. This measure eliminates the significant level of noncash depreciation and amortization
expense that results from the capital-
intensive nature of certain of our businesses and from intangible assets recognized in business combinations. Additionally, it is
unaffected by our capital structure or investment activities. We use this measure to evaluate our consolidated operating performance and the operating performance of our
operating segments and to allocate resources and capital to our operating segments. It is also a significant performance measure in our annual incentive compensation
programs. We believe that this measure is useful to investors because it is one of the bases for comparing our operating performance with that of other companies in our
industries, although our measure may not be directly comparable to similar measures used by other companies. This measure should not be considered a substitute for
operating income (loss), net income (loss) attributable to Comcast Corporation, net cash provided by operating activities, or other measures of performance or liquidity we
have reported in accordance with GAAP.
(in millions, except per share data)
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Total
Year
2014
Revenue
$
17,408
$
16,844
$
16,791
$
17,732
$
68,775
Operating income
$
3,568
$
3,804
$
3,745
$
3,787
$
14,904
Net income attributable to Comcast Corporation
$
1,871
$
1,992
$
2,592
$
1,925
$
8,380
Basic earnings per common share attributable to Comcast
Corporation shareholders
$
0.72
$
0.77
$
1.00
$
0.75
$
3.24
Diluted earnings per common share attributable to Comcast
Corporation shareholders
$
0.71
$
0.76
$
0.99
$
0.74
$
3.20
Dividends declared per common share
$
0.225
$
0.225
$
0.225
$
0.225
$
0.90
2013
Revenue
$
15,310
$
16,270
$
16,151
$
16,926
$
64,657
Operating income
$
3,067
$
3,435
$
3,414
$
3,647
$
13,563
Net income attributable to Comcast Corporation
$
1,437
$
1,734
$
1,732
$
1,913
$
6,816
Basic earnings per common share attributable to Comcast Corporation
shareholders
$
0.55
$
0.66
$
0.66
$
0.73
$
2.60
Diluted earnings per common share attributable to Comcast Corporation
shareholders
$
0.54
$
0.65
$
0.65
$
0.72
$
2.56
Dividends declared per common share
$
0.195
$
0.195
$
0.195
$
0.195
$
0.78
(a)
In the third quarter of 2014, net income attributable to Comcast Corporation included $724 million of favorable tax adjustments resulting from a reduction in our accruals
for uncertain tax positions and the related accrued interest on these tax positions. See Note 15 for additional information.
121
Comcast 2014 Annual Report on Form 10
-
K
(a)