Comcast 2015 Annual Report Download - page 157
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NBCUniversal Media, LLC
The table below presents the preliminary allocation of the purchase price to the assets and liabilities of Univer-
sal Studios Japan.
Preliminary Allocation of Purchase Price
(in millions)
Property and equipment (see Note 8) $ 642
Intangible assets (see Note 9) 57
Working capital (24)
Debt (see Note 10) (3,271)
Other noncurrent assets and liabilities and other 162
Identifiable net assets (liabilities) acquired (2,434)
Noncontrolling interest (1,440)
Goodwill (see Note 9) 5,373
Cash consideration transferred $ 1,499
Actual and Unaudited Pro Forma Results
Our consolidated revenue and net income attributable to NBCUniversal for the year ended December 31,
2015 included $169 million and $18 million, respectively, from the acquisition of Universal Studios Japan.
The following unaudited pro forma information has been presented as if the acquisition occurred on Jan-
uary 1, 2014. This information is based on historical results of operations and is subject to change as
valuations are completed and additional analysis is obtained. In addition, the unaudited pro forma accounting
adjustments are not necessarily indicative of what our results would have been had we operated Universal
Studios Japan since January 1, 2014. No pro forma adjustments have been made for our transaction-related
expenses.
Year ended December 31 (in millions) 2015 2014
Revenue $ 29,514 $ 26,513
Net income $ 3,851 $ 3,463
Net income attributable to NBCUniversal $ 3,529 $ 3,198
2013
Redemption Transaction
On March 19, 2013, Comcast acquired General Electric Company’s (“GE”) 49% common equity interest in
NBCUniversal Holdings that it did not already own for approximately $16.7 billion (the “redemption
transaction”). In addition to the redemption transaction, we purchased from GE certain properties we occupy
at 30 Rockefeller Plaza in New York City and CNBC’s headquarters in Englewood Cliffs, New Jersey for $1.4
billion.
The total consideration for these transactions consisted of $11.4 billion of cash on hand (of which we funded
$4.6 billion); $4 billion of senior debt securities issued by NBCUniversal Enterprise, Inc. (“NBCUniversal
Enterprise”), a holding company whose principal assets are its interests in NBCUniversal Holdings; $750 mil-
lion of cash funded through Comcast’s commercial paper program; $1.25 billion of borrowings under
NBCUniversal Enterprise’s credit facility, which replaced our credit facility; and $725 million aggregate liqui-
dation preference of Series A cumulative preferred stock of NBCUniversal Enterprise.
Comcast 2015 Annual Report on Form 10-K 154