Comcast 2015 Annual Report Download - page 129

Our internal control over financial reporting includes those policies and procedures that:
• pertain to the maintenance of records that, in reasonable detail, accurately and fairly
reflect our transactions and dispositions of our assets
• provide reasonable assurance that our transactions are recorded as necessary to
permit preparation of our financial statements in accordance with accounting princi-
ples generally accepted in the United States, and that our receipts and expenditures
are being made only in accordance with authorizations of our management and our
directors
• provide reasonable assurance regarding prevention or timely detection of
unauthorized acquisition, use or disposition of our assets that could have a material
effect on the financial statements
Because of its inherent limitations, a system of internal control over financial reporting can provide only rea-
sonable assurance and may not prevent or detect misstatements. Further, because of changes in conditions,
effectiveness of internal control over financial reporting may vary over time. Our system contains self-
monitoring mechanisms, and actions are taken to correct deficiencies as they are identified.
Our management conducted an evaluation of the effectiveness of the system of internal control over financial
reporting based on the framework in Internal Control — Integrated Framework issued in 2013 by the Commit-
tee of Sponsoring Organizations of the Treadway Commission. Based on this evaluation, our management
concluded that NBCUniversal’s system of internal control over financial reporting was effective as of
December 31, 2015. Our assessment of the effectiveness of internal control over financial reporting as of
December 31, 2015 did not include the internal controls of the Universal Studios Japan theme park, in which
NBCUniversal acquired a 51% interest on November 13, 2015, as permitted by Securities and Exchange
Commission guidelines that allow companies to exclude certain acquisitions from their assessment of internal
control over financial reporting during the first year of an acquisition. The total assets and total revenues of
Universal Studios Japan represented approximately 11% of NBCUniversal’s total assets as of December 31,
2015, and less than 1% of its total revenues for the year ended December 31, 2015.
Changes in internal control over financial reporting
As a result of NBCUniversal’s acquisition of Universal Studios Japan on November 13, 2015, NBCUniversal’s
internal control over financial reporting, subsequent to the date of acquisition, includes certain additional
internal controls relating to Universal Studios Japan. Except as described above, there were no changes in
NBCUniversal’s internal control over financial reporting identified in connection with the evaluation required by
paragraph (d) of Exchange Act Rules 13a-15 or 15d-15 that occurred during our last fiscal quarter that have
materially affected, or are reasonably likely to materially affect, NBCUniversal’s internal control over financial
reporting.
Item 9B: Other Information
None.
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