Comcast 2015 Annual Report Download - page 169

NBCUniversal Media, LLC
Our consolidated balance sheet also includes the assets and liabilities of certain legacy pension plans, as well
as the assets and liabilities for pension plans of certain foreign subsidiaries. As of December 31, 2015 and
2014, the benefit obligations associated with these plans exceeded the fair value of the plan assets by $67
million and $51 million, respectively.
Other Employee Benefits
Deferred Compensation Plans
We maintain unfunded, nonqualified deferred compensation plans for certain members of management (each,
a “participant”). The amount of compensation deferred by each participant is based on participant elections.
Participants in the plan designate one or more valuation funds, independently established funds or indices
that are used to determine the amount of investment gain or loss in the participant’s account.
Additionally, certain of our employees participate in Comcast’s unfunded, nonqualified deferred compensa-
tion plan. The amount of compensation deferred by each participant is based on participant elections.
Participant accounts are credited with income primarily based on a fixed annual rate.
In the case of both deferred compensation plans, participants are eligible to receive distributions from their
account based on elected deferral periods that are consistent with the plans and applicable tax law.
The table below presents the benefit obligation and interest expense for our deferred compensation plans.
Year ended December 31 (in millions) 2015 2014 2013
Benefit obligation $ 417 $ 349 $ 250
Interest expense $28 $24 $18
Retirement Investment Plans
We sponsor several 401(k) defined contribution retirement plans that allow eligible employees to contribute a
portion of their compensation through payroll deductions in accordance with specified plan guidelines. We
make contributions to the plans that include matching a percentage of the employees’ contributions up to
certain limits. In 2015, 2014 and 2013, expenses related to these plans totaled $174 million, $165 million and
$152 million, respectively.
Multiemployer Benefit Plans
We participate in various multiemployer benefit plans, including pension and postretirement benefit plans, that
cover some of our employees and temporary employees who are represented by labor unions. We also partic-
ipate in other multiemployer benefit plans that provide health and welfare and retirement savings benefits to
active and retired participants. We make periodic contributions to these plans in accordance with the terms
of applicable collective bargaining agreements and laws but do not sponsor or administer these plans. We do
not participate in any multiemployer benefit plans for which we consider our contributions to be individually
significant, and the largest plans in which we participate are funded at a level of 80% or greater.
In 2015, 2014 and 2013, the total contributions we made to multiemployer pension plans were $77 million,
$58 million and $59 million, respectively. In 2015, 2014 and 2013, the total contributions we made to multi-
employer postretirement and other benefit plans were $119 million, $125 million and $98 million, respectively.
If we cease to be obligated to make contributions or were to otherwise withdraw from participation in any of
these plans, applicable law would require us to fund our allocable share of the unfunded vested benefits,
which is known as a withdrawal liability. In addition, actions taken by other participating employers may lead
to adverse changes in the financial condition of one of these plans, which could result in an increase in our
withdrawal liability.
Comcast 2015 Annual Report on Form 10-K 166