Segment Information (Tables)
|
12 Months Ended |
Dec. 31, 2018 |
|---|
| Segment Reporting Information [Line Items] |
|
| Financial Data by Business Segment |
We use Adjusted EBITDA to evaluate the profitability of our operating segments, and the components of net income attributable to Comcast Corporation excluded from Adjusted EBITDA are not separately evaluated. To be consistent with our current management reporting presentation, certain 2018, 2017 and 2016 operating results were reclassified related to certain NBCUniversal businesses now presented in the Sky segment. We do not present a measure of total assets for our reportable business segments as this information is not used by management to allocate resources and capital. Our financial data by business segment is presented in the tables below. | | | | | | | | | | | | | | | | | (in millions) | Revenue |
| Adjusted EBITDA(e) |
| Depreciation and
Amortization |
| Capital
Expenditures |
| Cash Paid for
Intangible
Assets |
| 2018 | | | | | | Cable Communications | $ | 55,143 |
| $ | 22,447 |
| $ | 8,264 |
| $ | 7,716 |
| $ | 1,282 |
| NBCUniversal | | | | | | Cable Networks(a) | 11,773 |
| 4,428 |
| 738 |
| 42 |
| 23 |
| Broadcast Television(a) | 11,439 |
| 1,657 |
| 146 |
| 204 |
| 81 |
| Filmed Entertainment | 7,152 |
| 734 |
| 145 |
| 35 |
| 25 |
| Theme Parks | 5,683 |
| 2,455 |
| 660 |
| 1,143 |
| 173 |
| Headquarters and Other(b) | 63 |
| (680 | ) | 419 |
| 306 |
| 146 |
| Eliminations(a)(c) | (349 | ) | 4 |
| — |
| — |
| — |
| NBCUniversal | 35,761 |
| 8,598 |
| 2,108 |
| 1,730 |
| 448 |
| Sky | 4,587 |
| 692 |
| 539 |
| 222 |
| 137 |
| Corporate and Other(d) | 1,403 |
| (1,545 | ) | 106 |
| 106 |
| 68 |
| Eliminations(a)(c) | (2,387 | ) | (27 | ) | — |
| — |
| — |
| Comcast Consolidated | $ | 94,507 |
| $ | 30,165 |
| $ | 11,017 |
| $ | 9,774 |
| $ | 1,935 |
|
| | | | | | | | | | | | | | | | | (in millions) | Revenue |
| Adjusted EBITDA(e) |
| Depreciation and
Amortization |
| Capital
Expenditures |
| Cash Paid for
Intangible
Assets |
| 2017 | | | | | | Cable Communications | $ | 53,070 |
| $ | 21,068 |
| $ | 8,006 |
| $ | 7,952 |
| $ | 1,241 |
| NBCUniversal | | | | | | Cable Networks | 10,497 |
| 4,053 |
| 755 |
| 33 |
| 19 |
| Broadcast Television | 9,563 |
| 1,251 |
| 133 |
| 180 |
| 22 |
| Filmed Entertainment | 7,595 |
| 1,276 |
| 109 |
| 58 |
| 23 |
| Theme Parks | 5,443 |
| 2,384 |
| 648 |
| 960 |
| 78 |
| Headquarters and Other(b) | 45 |
| (741 | ) | 396 |
| 271 |
| 153 |
| Eliminations(c) | (307 | ) | (5 | ) | — |
| — |
| — |
| NBCUniversal | 32,836 |
| 8,218 |
| 2,041 |
| 1,502 |
| 295 |
| Corporate and Other(d) | 1,193 |
| (1,372 | ) | 83 |
| 96 |
| 69 |
| Eliminations(c) | (2,070 | ) | 42 |
| — |
| — |
| — |
| Comcast Consolidated | $ | 85,029 |
| $ | 27,956 |
| $ | 10,130 |
| $ | 9,550 |
| $ | 1,605 |
|
| | | | | | | | | | | | | | | | | (in millions) | Revenue |
| Adjusted EBITDA(e) |
| Depreciation and
Amortization |
| Capital
Expenditures |
| Cash Paid for
Intangible
Assets |
| 2016 | | | | | | Cable Communications | $ | 50,577 |
| $ | 20,014 |
| $ | 7,538 |
| $ | 7,596 |
| $ | 1,243 |
| NBCUniversal | | | | | | Cable Networks(a) | 10,324 |
| 3,681 |
| 745 |
| 32 |
| 20 |
| Broadcast Television(a) | 10,085 |
| 1,293 |
| 125 |
| 153 |
| 19 |
| Filmed Entertainment | 6,229 |
| 662 |
| 47 |
| 33 |
| 16 |
| Theme Parks | 4,946 |
| 2,190 |
| 512 |
| 922 |
| 72 |
| Headquarters and Other(b) | 20 |
| (699 | ) | 376 |
| 312 |
| 156 |
| Eliminations(a)(c) | (328 | ) | 11 |
| — |
| — |
| — |
| NBCUniversal | 31,276 |
| 7,138 |
| 1,805 |
| 1,452 |
| 283 |
| Corporate and Other(d) | 886 |
| (849 | ) | 83 |
| 87 |
| 26 |
| Eliminations(a)(c) | (2,003 | ) | (46 | ) | — |
| — |
| — |
| Comcast Consolidated | $ | 80,736 |
| $ | 26,257 |
| $ | 9,426 |
| $ | 9,135 |
| $ | 1,552 |
|
| | (a) | The revenue and operating costs and expenses associated with our broadcast of the 2018 PyeongChang Olympics and the 2016 Rio Olympics were reported in our Cable Networks and Broadcast Television segments. The revenue and operating costs and expenses associated with our broadcast of the 2018 Super Bowl were reported in our Broadcast Television segment. Included in Eliminations are transactions relating to these events that our Broadcast Television and Cable Networks segments enter into with our other segments. |
| | (b) | NBCUniversal Headquarters and Other activities include costs associated with overhead, allocations, personnel and headquarter initiatives. |
| | (c) | Included in Eliminations are transactions that our segments enter into with one another. The most common types of transactions are the following: |
| | • | our Cable Networks segment generates revenue by selling programming to our Cable Communications segment, which represents a substantial majority of the revenue elimination amount |
| | • | our Broadcast Television segment generates revenue from the fees received under retransmission consent agreements with our Cable Communications segment |
| | • | our Cable Communications segment generates revenue by selling advertising and by selling the use of satellite feeds to our Cable Networks segment |
| | • | our Cable Networks and Broadcast Television segments generate revenue by selling advertising to our Cable Communications segment |
| | • | our Filmed Entertainment and Broadcast Television segments generate revenue by licensing content to our Cable Networks segment; for segment reporting, this revenue is recognized as the programming rights asset for the licensed content is amortized based on third-party revenue |
| | • | our Filmed Entertainment, Cable Networks and Broadcast Television segments generate revenue by licensing content to our Sky segment |
| | (d) | Corporate and Other activities include costs associated with overhead and personnel, revenue and expenses associated with other business development initiatives, including our wireless phone service, and the operations of Comcast Spectacor, which owns the Philadelphia Flyers and the Wells Fargo Center arena in Philadelphia, Pennsylvania. |
| | (e) | We use Adjusted EBITDA as the measure of profit or loss for our operating segments. Adjusted EBITDA is defined as net income attributable to Comcast Corporation before net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock, income tax benefit (expense), investment and other income (loss), net, interest expense, depreciation and amortization expense, and other operating gains and losses (such as impairment charges related to fixed and intangible assets and gains or losses on the sale of long-lived assets), if any. From time to time we may exclude from Adjusted EBITDA the impact of certain events, gains, losses or other charges (such as significant legal settlements) that affect the period-to-period comparability of our operating performance. |
|
| Reconciliation of Adjusted EBITDA from Segments to Consolidated |
Our reconciliation of the aggregate amount of Adjusted EBITDA for our reportable segments to consolidated income before income taxes is presented in the table below. | | | | | | | | | | | Year ended December 31 (in millions) | 2018 |
| 2017 |
| 2016 |
| Adjusted EBITDA | $ | 30,165 |
| $ | 27,956 |
| $ | 26,257 |
| Adjustment for legal settlement | (125 | ) | (250 | ) | — |
| Adjustment for Sky transaction-related costs | (355 | ) | — |
| — |
| Depreciation | (8,281 | ) | (7,914 | ) | (7,464 | ) | Amortization | (2,736 | ) | (2,216 | ) | (1,962 | ) | Other operating gains | 341 |
| 442 |
| — |
| Interest expense | (3,542 | ) | (3,086 | ) | (2,942 | ) | Investment and other income (loss), net | (225 | ) | 421 |
| 437 |
| Income before income taxes | $ | 15,242 |
| $ | 15,353 |
| $ | 14,326 |
|
|
| NBCUniversal Media LLC [Member] |
|
| Segment Reporting Information [Line Items] |
|
| Financial Data by Business Segment |
Our Cable Networks segment consists primarily of a diversified portfolio of cable television networks. Our Cable Networks segment is comprised of our national cable networks that provide a variety of entertainment, news and information, and sports content; our regional sports and news networks; our international cable networks; our cable television studio production operations; and our various digital properties. Our Broadcast Television segment consists primarily of the NBC and Telemundo broadcast networks, our NBC and Telemundo owned local broadcast television stations, the NBC Universo national cable network, our broadcast television studio production operations, and our various digital properties. Our Filmed Entertainment segment primarily produces, acquires, markets and distributes filmed entertainment worldwide. Our films are produced primarily under the Universal Pictures, Illumination, DreamWorks Animation and Focus Features names. Our Theme Parks segment consists primarily of our Universal theme parks in Orlando, Florida; Hollywood, California; and Osaka, Japan. In addition, along with a consortium of Chinese state-owned companies, we are developing a Universal theme park and resort in Beijing, China. We use Adjusted EBITDA to evaluate the profitability of our operating segments, and the components of net income attributable to NBCUniversal excluded from Adjusted EBITDA are not separately evaluated. To be consistent with our current management reporting presentation, certain 2018, 2017 and 2016 operating results were reclassified related to certain NBCUniversal businesses now presented in Headquarters and Other. We do not present a measure of total assets for our reportable business segments as this information is not used by management to allocate resources and capital. Our financial data by business segment is presented in the tables below. | | | | | | | | | | | | | | | | | (in millions) | Revenue |
| Adjusted EBITDA(d) |
| Depreciation and
Amortization |
| Capital
Expenditures |
| Cash Paid for
Intangible
Assets |
| 2018 | | | | | | Cable Networks(a) | $ | 11,773 |
| $ | 4,428 |
| $ | 738 |
| $ | 42 |
| $ | 23 |
| Broadcast Television(a) | 11,439 |
| 1,657 |
| 146 |
| 204 |
| 81 |
| Filmed Entertainment | 7,152 |
| 734 |
| 145 |
| 35 |
| 25 |
| Theme Parks | 5,683 |
| 2,455 |
| 660 |
| 1,143 |
| 173 |
| Headquarters and Other(b) | 212 |
| (645 | ) | 419 |
| 306 |
| 146 |
| Eliminations(a)(c) | (364 | ) | 4 |
| — |
| — |
| — |
| Total | $ | 35,895 |
| $ | 8,633 |
| $ | 2,108 |
| $ | 1,730 |
| $ | 448 |
|
| | | | | | | | | | | | | | | | | (in millions) | Revenue |
| Adjusted EBITDA(d) |
| Depreciation and
Amortization |
| Capital
Expenditures |
| Cash Paid for
Intangible
Assets |
| 2017 | | | | | | Cable Networks | $ | 10,497 |
| $ | 4,053 |
| $ | 755 |
| $ | 33 |
| $ | 19 |
| Broadcast Television | 9,563 |
| 1,251 |
| 133 |
| 180 |
| 22 |
| Filmed Entertainment | 7,595 |
| 1,276 |
| 109 |
| 58 |
| 23 |
| Theme Parks | 5,443 |
| 2,384 |
| 648 |
| 960 |
| 78 |
| Headquarters and Other(b) | 179 |
| (779 | ) | 396 |
| 271 |
| 153 |
| Eliminations(c) | (327 | ) | (4 | ) | — |
| — |
| — |
| Total | $ | 32,950 |
| $ | 8,181 |
| $ | 2,041 |
| $ | 1,502 |
| $ | 295 |
|
| | | | | | | | | | | | | | | | | (in millions) | Revenue |
| Adjusted EBITDA(d) |
| Depreciation and
Amortization |
| Capital
Expenditures |
| Cash Paid for
Intangible
Assets |
| 2016 | | | | | | Cable Networks(a) | $ | 10,324 |
| $ | 3,681 |
| $ | 745 |
| $ | 32 |
| $ | 20 |
| Broadcast Television(a) | 10,085 |
| 1,293 |
| 125 |
| 153 |
| 19 |
| Filmed Entertainment | 6,229 |
| 662 |
| 47 |
| 33 |
| 16 |
| Theme Parks | 4,946 |
| 2,190 |
| 512 |
| 922 |
| 72 |
| Headquarters and Other(b) | 157 |
| (674 | ) | 376 |
| 312 |
| 156 |
| Eliminations(a)(c) | (343 | ) | 11 |
| — |
| — |
| — |
| Total | $ | 31,398 |
| $ | 7,163 |
| $ | 1,805 |
| $ | 1,452 |
| $ | 283 |
|
| | (a) | The revenue and operating costs and expenses associated with our broadcast of the 2018 PyeongChang Olympics and the 2016 Rio Olympics were reported in our Cable Networks and Broadcast Television segments. The revenue and operating costs and expenses associated with our broadcast of the 2018 Super Bowl were reported in our Broadcast Television segment. Included in Eliminations are transactions relating to these events that our Broadcast Television and Cable Networks segments enter into with our other segments. |
| | (b) | Headquarters and Other activities include costs associated with overhead, allocations, personnel and headquarter initiatives. |
| | (c) | Eliminations are transactions that our segments enter into with one another, which consisted primarily of the licensing of film and television content from our Filmed Entertainment and Broadcast Television segments to our Cable Networks segment; for segment reporting, revenue is recognized as the programming rights asset for the licensed content is amortized based on third-party revenue. |
| | (d) | We use Adjusted EBITDA as the measure of profit or loss for our operating segments. Adjusted EBITDA is defined as net income attributable to NBCUniversal before net (income) loss attributable to noncontrolling interests, income tax expense, investment and other income (loss), net, interest expense, depreciation and amortization expense, and other operating gains and losses (such as impairment charges related to fixed and intangible assets and gains or losses on the sale of long-lived assets), if any. From time to time we may exclude from Adjusted EBITDA the impact of certain events, gains, losses or other charges (such as significant legal settlements) that affect the period-to-period comparability of our operating performance. |
|
| Reconciliation of Adjusted EBITDA from Segments to Consolidated |
Our reconciliation of the aggregate amount of Adjusted EBITDA for our reportable segments to consolidated income before income taxes is presented in the table below. | | | | | | | | | | | Year ended December 31 (in millions) | 2018 |
| 2017 |
| 2016 |
| Adjusted EBITDA | $ | 8,633 |
| $ | 8,181 |
| $ | 7,163 |
| Depreciation | (1,001 | ) | (994 | ) | (861 | ) | Amortization | (1,107 | ) | (1,047 | ) | (944 | ) | Other operating gains | 141 |
| 337 |
| — |
| Interest expense | (489 | ) | (727 | ) | (595 | ) | Investment and other income (loss), net | (521 | ) | (144 | ) | 24 |
| Income before income taxes | $ | 5,656 |
| $ | 5,606 |
| $ | 4,787 |
|
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