Comcast 2014 Annual Report Download - page 4

Table of Contents
Comcast Corporation
2014 Annual Report on Form 10-K
Table of Contents
Explanatory Note
This Annual Report on Form 10-K is a combined report being filed separately by Comcast Corporation (“Comcast”)
and
NBCUniversal Media, LLC (“NBCUniversal”).
Comcast owns all of the common equity interests in NBCUniversal, and
NBCUniversal meets the conditions set forth in General Instruction I(1)(a), (b) and (d) of Form 10-
K and is therefore filing its
information within this Form 10-
K with the reduced disclosure format. Each of Comcast and NBCUniversal is filing on its own behalf
the information contained in this report that relates to itself, and neither company makes any representation as to information
relating to the other company. Where information or an explanation is provided that is substantially the same for each company,
such information or explanation has been combined in this report. Where information or an explanation is not substantially the same
for each company, separate information and explanation has been provided. In addition, separate consolidated financial statements
for each company, along with notes to the consolidated financial statements, are included in this report. Unless indicated otherwise,
throughout this Annual Report on Form 10-
K, we refer to Comcast and its consolidated subsidiaries, including NBCUniversal and its
consolidated subsidiaries, as “we,” “us” and “our;” Comcast Cable Communications, LLC and its subsidiaries as “Comcast Cable;”
Comcast Holdings Corporation as “Comcast Holdings;” and NBCUniversal, LLC as “NBCUniversal Holdings.”
PART I
Item 1 Business
1
Item 1A
Risk Factors
30
Item 1B
Unresolved Staff Comments
39
Item 2 Properties
39
Item 3 Legal Proceedings
40
Item 4 Mine Safety Disclosures
40
PART II
Item 5 Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer
Purchases of Equity Securities
41
Item 6
Selected Financial Data
45
Item 7 Management’s Discussion and Analysis of Financial Condition and Results of Operations
46
Item 7A
Quantitative and Qualitative Disclosures About Market Risk
79
Item 8 Comcast Corporation Financial Statements and Supplementary Data
81
Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
131
Item 9A
Controls and Procedures
131
Item 9B
Other Information
132
PART III
Item 10
Directors, Executive Officers and Corporate Governance
133
Item 11
Executive Compensation
134
Item 12
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
134
Item 13
Certain Relationships and Related Transactions, and Director Independence
134
Item 14
Principal Accountant Fees and Services
135
PART IV
Item 15
Exhibits and Financial Statement Schedules
136
Signatures
146
NBCUniversal Media, LLC Financial Statements and Supplementary Data
148