Comcast 2014 Annual Report Download - page 60

Table of Contents
Consolidated Costs and Expenses
The following graph illustrates the increase in consolidated costs and expenses, excluding depreciation and amortization
(“operating costs and expenses”) by our Cable Communications and NBCUniversal segments.
In 2014, our consolidated operating costs and expenses included transaction-
related costs associated with the Time Warner Cable
merger and the Charter divestiture transactions of $237 million, which is included in Corporate and Other, and operating costs and
expenses associated with our broadcast of the 2014 Sochi Olympics, which is included in the NBCUniversal segments. The
decrease in operating costs and expenses in our NBCUniversal segments in 2013 was primarily due to operating costs and
expenses recorded in 2012 attributable to our broadcasts of the 2012 Super Bowl and the 2012 London Olympics.
Operating costs and expenses for our segments is discussed separately below under the heading “Segment Operating Results.”
Operating costs and expenses for our other businesses is discussed separately below under the heading “
Corporate and Other
Results of Operations.”
Consolidated depreciation and amortization increased slightly in 2014 primarily due to increases in capital spending in our Cable
Communications and NBCUniversal segments, as well as increases related to our acquisitions in 2013 of our corporate
headquarters and real estate properties by NBCUniversal. Consolidated depreciation and amortization increased slightly in 2013
primarily due to increases in capital spending in our Cable Communications and Theme Parks segments, as well as depreciation
associated with the acquisition of real estate properties by NBCUniversal in 2013.
Segment Operating Results
Our segment operating results are presented based on how we assess operating performance and internally report financial
information. 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
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Comcast 2014 Annual Report on Form 10
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