2015 Form 10-K Financial Statement

#000119312516452423 Filed on February 05, 2016

View on sec.gov

Income Statement

Concept 2015 2014 Q4 2014 Q3
Revenue $74.51B $17.73B $16.79B
YoY Change 8.34% 4.76% 3.96%
Cost Of Revenue $22.55B $5.358B $4.772B
YoY Change 7.83% 2.02% -0.31%
Gross Profit $51.96B $12.37B $12.02B
YoY Change 8.56% 6.0% 5.76%
Gross Profit Margin 69.74% 69.78% 71.58%
Selling, General & Admin $27.28B $6.497B $6.315B
YoY Change 9.39% 7.76% 4.66%
% of Gross Profit 52.51% 52.51% 52.54%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $6.781B $2.090B $1.539B
YoY Change 7.01% 4.6% 1.25%
% of Gross Profit 13.05% 16.89% 12.8%
Operating Expenses $35.96B $8.587B $8.274B
YoY Change 9.11% 6.98% 4.08%
Operating Profit $16.00B $3.787B $3.745B
YoY Change 7.34% 3.84% 9.7%
Interest Expense $2.702B -$603.0M $663.0M
YoY Change 3.25% -2.58% 3.76%
% of Operating Profit 16.89% -15.92% 17.7%
Other Income/Expense, Net -$2.626B -$54.00M -$705.0M
YoY Change 7.67% -22.86% 14.63%
Pretax Income $13.37B $3.110B $3.040B
YoY Change 7.28% 5.28% 8.61%
Income Tax $4.959B $1.114B $407.0M
% Of Pretax Income 37.08% 35.82% 13.39%
Net Earnings $8.163B $1.925B $2.592B
YoY Change -2.59% 0.63% 49.65%
Net Earnings / Revenue 10.96% 10.86% 15.44%
Basic Earnings Per Share $1.64 $0.75 $1.00
Diluted Earnings Per Share $1.62 $0.74 $0.99
COMMON SHARES
Basic Shares Outstanding 4.972B shares 2.580B shares
Diluted Shares Outstanding 5.035B shares 2.616B shares

Balance Sheet

Concept 2015 2014 Q4 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.401B $4.572B $5.135B
YoY Change -46.79% -24.59% -19.68%
Cash & Equivalents $2.295B $3.910B $4.547B
Short-Term Investments $106.0M $662.0M $588.0M
Other Short-Term Assets $3.006B $1.859B $1.694B
YoY Change 11.42% 25.61% -21.97%
Inventory
Prepaid Expenses
Receivables $6.896B $6.321B $6.172B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $12.30B $13.53B $13.94B
YoY Change -9.08% -3.87% 3.95%
LONG-TERM ASSETS
Property, Plant & Equipment $33.67B $30.95B $30.36B
YoY Change 8.76% 3.73% 5.4%
Goodwill $27.32B $27.32B
YoY Change 0.8%
Intangibles
YoY Change
Long-Term Investments $3.224B $1.019B $1.024B
YoY Change 2.84% 3.03% -1.54%
Other Assets $2.272B $2.180B $2.474B
YoY Change 4.22% -6.96% 5.5%
Total Long-Term Assets $154.3B $145.7B $145.3B
YoY Change 5.92% 0.63% 1.48%
TOTAL ASSETS
Total Short-Term Assets $12.30B $13.53B $13.94B
Total Long-Term Assets $154.3B $145.7B $145.3B
Total Assets $166.6B $159.2B $159.2B
YoY Change 4.64% 0.23% 1.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.215B $5.638B $5.680B
YoY Change 10.23% 1.99% -5.84%
Accrued Expenses $7.034B $5.293B $5.461B
YoY Change 5.93% -33.56% -41.25%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $3.627B $4.217B $3.523B
YoY Change -13.99% 28.57% 50.75%
Total Short-Term Liabilities $18.18B $17.41B $17.08B
YoY Change 4.41% -7.94% -8.48%
LONG-TERM LIABILITIES
Long-Term Debt $48.99B $43.86B $44.83B
YoY Change 11.7% -1.58% 1.45%
Other Long-Term Liabilities $10.64B $10.82B $10.39B
YoY Change -1.68% -4.96% -9.61%
Total Long-Term Liabilities $59.63B $10.82B $10.39B
YoY Change 9.05% -4.96% -81.34%
TOTAL LIABILITIES
Total Short-Term Liabilities $18.18B $17.41B $17.08B
Total Long-Term Liabilities $59.63B $10.82B $10.39B
Total Liabilities $114.3B $28.23B $27.47B
YoY Change 7.35% -6.82% -74.3%
SHAREHOLDERS EQUITY
Retained Earnings $21.54B $21.81B
YoY Change 11.98%
Common Stock $30.00M $30.00M
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $7.517B $7.517B
YoY Change 0.0%
Treasury Stock Shares
Shareholders Equity $52.27B $52.71B $53.30B
YoY Change
Total Liabilities & Shareholders Equity $166.6B $159.2B $159.2B
YoY Change 4.64% 0.23% 1.69%

Cashflow Statement

Concept 2015 2014 Q4 2014 Q3
OPERATING ACTIVITIES
Net Income $8.163B $1.925B $2.592B
YoY Change -2.59% 0.63% 49.65%
Depreciation, Depletion And Amortization $6.781B $2.090B $1.539B
YoY Change 7.01% 4.6% 1.25%
Cash From Operating Activities $19.49B $4.643B $4.755B
YoY Change 14.99% 87.14% 19.05%
INVESTING ACTIVITIES
Capital Expenditures $8.499B -$2.611B $1.950B
YoY Change 14.54% 12.64% 12.98%
Acquisitions $1.786B
YoY Change 274.42%
Other Investing Activities -$238.0M -$42.00M $16.00M
YoY Change -263.01% -132.06% -104.09%
Cash From Investing Activities -$11.96B -$2.653B -$2.192B
YoY Change 37.0% 21.31% -7.39%
FINANCING ACTIVITIES
Cash Dividend Paid $2.437B
YoY Change 8.12%
Common Stock Issuance & Retirement, Net $7.139B
YoY Change 69.33%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$9.136B -2.627B 455.0M
YoY Change 51.76% 1367.6% -132.2%
NET CHANGE
Cash From Operating Activities $19.49B 4.643B 4.755B
Cash From Investing Activities -$11.96B -2.653B -2.192B
Cash From Financing Activities -$9.136B -2.627B 455.0M
Net Change In Cash -$1.615B -637.0M 3.018B
YoY Change -173.68% -653.91% 1310.28%
FREE CASH FLOW
Cash From Operating Activities $19.49B $4.643B $4.755B
Capital Expenditures $8.499B -$2.611B $1.950B
Free Cash Flow $10.99B $7.254B $2.805B
YoY Change 15.34% 51.16% 23.68%

Facts In Submission

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<div><p style='text-align:left;margin-top:0pt;margin-bottom:5.4pt;line-height:13pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >Our consolidated financial statements are prepared in accordance with GAAP, which requires us to select accounting policies, including in certain cases industry-specific policies, and make estimates that affect the </font><font style='font-family:Times New Roman;font-size:10pt;' >reported amount of assets, liabilities, revenue and expenses, and the related disclosure of contingent assets and contingent liabilities. Actual results could differ from these estimates. We believe that the judgments and related estimates for the followin</font><font style='font-family:Times New Roman;font-size:10pt;' >g items are critical in the preparation of our consolidated financial statements:</font></p><ul><li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:5.4pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >valuation and impairment testing of cable franchise rights (see Note 9)</font></li><li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:5.4pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >film and television costs (see Note 6)</font></li></ul><p style='text-align:left;margin-top:0pt;margin-bottom:5.4pt;line-height:13pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >In addition, the following accounting </font><font style='font-family:Times New Roman;font-size:10pt;' >policies are </font><font style='font-family:Times New Roman;font-size:10pt;' >specific to the industries in which we operate:</font></p><ul><li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:5.4pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >capitalization and amortization of film and television costs (see Note 6)</font></li><li style='list-style:disc;text-align:left;margin-top:0pt;margin-bottom:5.4pt;' ><font style='font-family:Times New Roman;font-size:10pt;' >installation revenue and costs for connecting customers to our cable systems (see revenue recognition below and Note 8)</font></li></ul><p style='text-align:left;margin-top:0pt;margin-bottom:5.4pt;line-height:13pt;' ><font style='font-family:Times New Roman;font-size:10pt;margin-left:0pt;' >In</font><font style='font-family:Times New Roman;font-size:10pt;' >formation on our other accounting policies and methods that are used in the preparation of our consolidated financial statements are included, where applicable, in their respective footnotes that follow. </font><font style='font-family:Times New Roman;font-size:10pt;' >Below is a discussion of accounting policies and met</font><font style='font-family:Times New Roman;font-size:10pt;' >hods used in our consolidated financial statements that are not presented within other footnotes.</font></p><p style='text-align:left;margin-top:5.4pt;margin-bottom:5.4pt;line-height:13pt;' ></p></div>
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UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
111000000 USD
CY2013Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
509000000 USD
CY2014 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
192000000 USD
CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1365000000 USD
CY2015 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
3210000000 USD
CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
36000000 USD
CY2013Q4 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.195
CY2015 us-gaap Depreciation And Amortization
DepreciationAndAmortization
8680000000 USD
CY2014 cmcsa Noncash Interest Expense Income Net
NoncashInterestExpenseIncomeNet
180000000 USD
CY2014Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
3568000000 USD
CY2014Q4 us-gaap Net Income Loss
NetIncomeLoss
1925000000 USD
CY2014Q1 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.225
CY2015Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
48100000000 USD
CY2015 cmcsa Payments For Acquisitions And Construction Of Real Estate Properties
PaymentsForAcquisitionsAndConstructionOfRealEstateProperties
178000000 USD
CY2013 us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Net Of Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
301000000 USD
CY2014 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
797000000 USD
CY2014Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
572000000 USD
CY2012Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10951000000 USD
CY2014Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
3804000000 USD
CY2014Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
3745000000 USD
CY2014Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.225
CY2014Q4 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.225
CY2015Q4 us-gaap Accounts Receivable Net Noncurrent
AccountsReceivableNetNoncurrent
721000000 USD
CY2014Q2 us-gaap Revenues
Revenues
16844000000 USD
CY2014Q3 us-gaap Net Income Loss
NetIncomeLoss
2592000000 USD
CY2013 us-gaap Income Tax Effects Allocated Directly To Equity Other
IncomeTaxEffectsAllocatedDirectlyToEquityOther
244000000 USD
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P5Y0M0D
CY2014Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
1896000000 USD
CY2015Q4 cmcsa Percentage Of Employees Covered Under Collective Bargaining Agreements Expired Or Scheduled To Expire During Next Year
PercentageOfEmployeesCoveredUnderCollectiveBargainingAgreementsExpiredOrScheduledToExpireDuringNextYear
0.1 pure
CY2014Q1 us-gaap Revenues
Revenues
17408000000 USD
CY2015Q4 us-gaap Commercial Paper
CommercialPaper
975000000 USD
CY2014Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
32764000000 USD
CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2295000000 USD
CY2015Q4 cmcsa Totalcustomerrelationships
Totalcustomerrelationships
27700000
CY2015Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.82
CY2015Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.81
CY2015Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.85
CY2015Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.84
CY2015Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.81
CY2015Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.8
CY2014Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.72
CY2014Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.71
CY2014Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.77
CY2014Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.76
CY2014Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1
CY2014Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.99
CY2014Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.75
CY2014Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.74
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.022 pure
CY2014 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y6M0D
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y0M0D
CY2014 cmcsa Noncontrolling Interest Increase From Equity Issuance Or Sale Of Parent Equity Interest
NoncontrollingInterestIncreaseFromEquityIssuanceOrSaleOfParentEquityInterest
11000000 USD
CY2014Q4 us-gaap Theatrical Film Costs Released
TheatricalFilmCostsReleased
1371000000 USD
CY2014Q4 us-gaap Theatrical Film Costs Completed And Not Released
TheatricalFilmCostsCompletedAndNotReleased
71000000 USD
CY2014Q4 cmcsa Theatrical Film Costs In Production And In Development
TheatricalFilmCostsInProductionAndInDevelopment
1189000000 USD
CY2014Q4 us-gaap Theatrical Film Costs
TheatricalFilmCosts
2631000000 USD
CY2014Q4 us-gaap Direct To Television Film Costs Released
DirectToTelevisionFilmCostsReleased
1273000000 USD
CY2014Q4 cmcsa Direct To Television Film Costs In Production And In Development
DirectToTelevisionFilmCostsInProductionAndInDevelopment
505000000 USD
CY2014Q4 us-gaap Direct To Television Film Costs
DirectToTelevisionFilmCosts
1778000000 USD
CY2014Q4 cmcsa Programming Rights Less Amortization
ProgrammingRightsLessAmortization
2157000000 USD
CY2013 cmcsa Increasedecreaseinfilmandtelevisioncostnet
Increasedecreaseinfilmandtelevisioncostnet
-44000000 USD
CY2014 cmcsa Increasedecreaseinfilmandtelevisioncostnet
Increasedecreaseinfilmandtelevisioncostnet
562000000 USD
CY2013 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
2933000000 USD
CY2013 us-gaap Payments To Acquire Additional Interest In Subsidiaries
PaymentsToAcquireAdditionalInterestInSubsidiaries
10761000000 USD
CY2015 dei Document Type
DocumentType
10-K
CY2015 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2015 dei Entity Central Index Key
EntityCentralIndexKey
0001166691
CY2015 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2015 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2015 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes
CY2015 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2013 cmcsa Purchase Of Noncontrolling Common Equity Interest
PurchaseOfNoncontrollingCommonEquityInterest
-1677000000 USD
CY2015Q4 cmcsa Liabilities Related To Prepaid Forward Sale Agreements
LiabilitiesRelatedToPrepaidForwardSaleAgreements
0 USD
CY2015 cmcsa Proceeds From Sales Of Businesses And Investments
ProceedsFromSalesOfBusinessesAndInvestments
433000000 USD
CY2014 cmcsa Fair Value Equity Securities Settlement
FairValueEquitySecuritiesSettlement
3200000000 USD
CY2013 cmcsa Total Non Cash Consideration Transferred In Redemption Transaction
TotalNonCashConsiderationTransferredInRedemptionTransaction
6000000000 USD
CY2013 cmcsa Fair Value Equity Securities Settlement
FairValueEquitySecuritiesSettlement
1400000000 USD
CY2015 cmcsa Fair Value Equity Securities Settlement
FairValueEquitySecuritiesSettlement
517000000 USD
CY2015Q4 us-gaap Dividends Payable Amount Per Share
DividendsPayableAmountPerShare
0.25
CY2015Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
612000000 USD
CY2015 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1100000000 USD
CY2015Q4 us-gaap Line Of Credit
LineOfCredit
0 USD
CY2014Q4 us-gaap Line Of Credit
LineOfCredit
0 USD
CY2015 cmcsa Increasedecreaseinfilmandtelevisioncostnet
Increasedecreaseinfilmandtelevisioncostnet
299000000 USD
CY2014Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
86514000000 USD
CY2015Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
86178000000 USD
CY2015Q4 us-gaap Theatrical Film Costs Released
TheatricalFilmCostsReleased
1275000000 USD
CY2015Q4 us-gaap Theatrical Film Costs Completed And Not Released
TheatricalFilmCostsCompletedAndNotReleased
226000000 USD
CY2015Q4 cmcsa Theatrical Film Costs In Production And In Development
TheatricalFilmCostsInProductionAndInDevelopment
907000000 USD
CY2015Q4 us-gaap Theatrical Film Costs
TheatricalFilmCosts
2408000000 USD
CY2015Q4 us-gaap Direct To Television Film Costs Released
DirectToTelevisionFilmCostsReleased
1573000000 USD
CY2015Q4 cmcsa Direct To Television Film Costs In Production And In Development
DirectToTelevisionFilmCostsInProductionAndInDevelopment
737000000 USD
CY2015Q4 us-gaap Direct To Television Film Costs
DirectToTelevisionFilmCosts
2310000000 USD
CY2015 us-gaap Multiemployer Plans Funded Status
MultiemployerPlansFundedStatus
At least 80 percent
CY2015 us-gaap Debt Issuance Costs
DebtIssuanceCosts
176000000 USD
CY2015Q4 us-gaap Percentage Of Unamortized Film Costs
PercentageOfUnamortizedFilmCosts
0.87 pure
CY2015 us-gaap Film Costs Amortized In Next Operating Cycle
FilmCostsAmortizedInNextOperatingCycle
1500000000 USD
CY2015 cmcsa Reclassification Of Class A Special Common Stock
ReclassificationOfClassASpecialCommonStock
0 USD
CY2014Q4 cmcsa Debtissuancecostspremiumsdiscountsadjustments
Debtissuancecostspremiumsdiscountsadjustments
195000000 USD
CY2015Q4 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
52621000000 USD
CY2015Q4 cmcsa Debtissuancecostspremiumsdiscountsadjustments
Debtissuancecostspremiumsdiscountsadjustments
262000000 USD
CY2015Q2 dei Entity Public Float
EntityPublicFloat
148617000000 USD
CY2015 cmcsa Equityimpactrelatedtoacquisition
Equityimpactrelatedtoacquisition
1440000000 USD
CY2014Q3 cmcsa Change In Income Tax Expense Related To Effectively Settled Uncertain Tax Positions
ChangeInIncomeTaxExpenseRelatedToEffectivelySettledUncertainTaxPositions
759000000 USD
CY2015 cmcsa Loss On Early Extinguishment Of Debt
LossOnEarlyExtinguishmentOfDebt
47000000 USD

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