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Comcast Corporation
Note 19: Quarterly Financial Information (Unaudited)
(in millions, except per share data)
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Total
Year
2015
Revenue $ 17,853 $ 18,743 $ 18,669 $ 19,245 $ 74,510
Operating income $ 3,890 $ 4,105 $ 4,001 $ 4,002 $ 15,998
Net income attributable to Comcast Corporation $ 2,059 $ 2,137 $ 1,996 $ 1,971 $ 8,163
Basic earnings per common share attributable to
Comcast Corporation shareholders $ 0.82 $ 0.85 $ 0.81 $ 0.80 $ 3.28
Diluted earnings per common share attributable
to Comcast Corporation shareholders $ 0.81 $ 0.84 $ 0.80 $ 0.79 $ 3.24
Dividends declared per common share $ 0.25 $ 0.25 $ 0.25 $ 0.25 $ 1.00
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(a) $ 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
(a) In the third quarter of 2014, net income attributable to Comcast Corporation included $759 million of favorable income 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.
Note 20: Condensed Consolidating Financial Information
Comcast (“Comcast Parent”), Comcast Cable Communications, LLC (“CCCL Parent”) and NBCUniversal
(“NBCUniversal Media Parent”) have fully and unconditionally guaranteed each other’s debt securities. In
addition, the Comcast revolving credit facility and the Comcast commercial paper program are also fully and
unconditionally guaranteed by NBCUniversal. The Comcast commercial paper program is supported by the
Comcast revolving credit facility. The debt securities within the guarantee structure total $44.3 billion, of
which $10.7 billion will mature within the next five years.
In October 2015, we merged three of our wholly owned subsidiaries, Comcast MO Group, LLC (“Comcast
MO Group”), Comcast Cable Holdings, LLC (“CCH”) and Comcast MO of Delaware, LLC (“Comcast MO of
Delaware”), with and into CCCL Parent. Comcast MO Group, CCH and Comcast MO of Delaware were guar-
antors prior to the merger and were collectively referred to as the “Combined CCHMO Parents.” Accordingly,
the financial information for CCCL Parent reflects both the former Combined CCHMO Parents and the CCCL
Parent for all periods presented.
Comcast Parent and CCCL Parent also fully and unconditionally guarantee NBCUniversal Enterprise’s $4 bil-
lion of senior notes, as well as the NBCUniversal Enterprise revolving credit facility and the associated
commercial paper program. NBCUniversal Media Parent does not guarantee the NBCUniversal Enterprise
senior notes, credit facility or commercial paper program.
Comcast Parent provides an unconditional subordinated guarantee of the $185 million principal amount cur-
rently outstanding of Comcast Holdings’ ZONES due October 2029. Neither CCCL Parent nor NBCUniversal
Media Parent guarantee the Comcast Holdings’ ZONES due October 2029. None of Comcast Parent, CCCL
Parent nor NBCUniversal Media Parent guarantee the $62 million principal amount currently outstanding of
Comcast Holdings’ ZONES due November 2029 or the $3.3 billion of Universal Studios Japan term loans.
Comcast 2015 Annual Report on Form 10-K 116