10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

x Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended September 30, 2018

OR

c Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the Transition Period from                      to 

Commission File Number	Exact Name of Registrant; State of Incorporation; Address and Telephone Number of Principal Executive Offices	I.R.S. Employer Identification No.
001-32871	COMCAST CORPORATION	27-0000798
	PENNSYLVANIA One Comcast Center Philadelphia, PA 19103-2838 (215) 286-1700
001-36438	NBCUNIVERSAL MEDIA, LLC	14-1682529
	DELAWARE 30 Rockefeller Plaza New York, NY 10112-0015 (212) 664-4444

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding twelve months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Comcast Corporation	Yes	x	No	c
NBCUniversal Media, LLC	Yes	x	No	c

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such period that the registrant was required to submit and post such files).

Comcast Corporation	Yes	x	No	c
NBCUniversal Media, LLC	Yes	x	No	c

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Comcast Corporation	Large accelerated filer	x	Accelerated filer	c	Non-accelerated filer	c	Smaller reporting company	c	Emerging growth company	c
NBCUniversal Media, LLC	Large accelerated filer	c	Accelerated filer	c	Non-accelerated filer	x	Smaller reporting company	c	Emerging growth company	c

If an emerging growth company, indicate by check mark whether the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Comcast Corporation	c
NBCUniversal Media, LLC	c

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).

Comcast Corporation	Yes	c	No	x
NBCUniversal Media, LLC	Yes	c	No	x

Indicate the number of shares outstanding of each of the registrant’s classes of stock, as of the latest practical date:

As of September 30, 2018, there were 4,540,060,394 shares of Comcast Corporation Class A common stock and 9,444,375 shares of Comcast Corporation Class B common stock outstanding.

Not applicable for NBCUniversal Media, LLC.

NBCUniversal Media, LLC meets the conditions set forth in General Instruction H(1)(a) and (b) of Form 10-Q and is therefore filing this form with the reduced disclosure format.

TABLE OF CONTENTS

		Page Number
PART I. FINANCIAL INFORMATION
Item 1.	Comcast Corporation Financial Statements	1
	Condensed Consolidated Statement of Income (Unaudited)	1
	Condensed Consolidated Statement of Comprehensive Income (Unaudited)	2
	Condensed Consolidated Statement of Cash Flows (Unaudited)	3
	Condensed Consolidated Balance Sheet (Unaudited)	4
	Condensed Consolidated Statement of Changes in Equity (Unaudited)	5
	Notes to Condensed Consolidated Financial Statements (Unaudited)	6
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	31
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	47
Item 4.	Controls and Procedures	47
PART II. OTHER INFORMATION
Item 1.	Legal Proceedings	49
Item 1A.	Risk Factors	49
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	49
Item 5.	Other Information	49
Item 6.	Exhibits	50
SIGNATURES		52
NBCUniversal Media, LLC Financial Statements		53

Explanatory Note

This Quarterly Report on Form 10-Q is a combined report being filed separately by Comcast Corporation (“Comcast”) and NBCUniversal Media, LLC (“NBCUniversal”). Comcast owns all of the common equity interests in NBCUniversal, and NBCUniversal meets the conditions set forth in General Instruction H(1)(a) and (b) of Form 10-Q and is therefore filing its information within this Form 10-Q with the reduced disclosure format. Each of Comcast and NBCUniversal is filing on its own behalf the information contained in this report that relates to itself, and neither company makes any representation as to information relating to the other company. Where information or an explanation is provided that is substantially the same for each company, such information or explanation has been combined in this report. Where information or an explanation is not substantially the same for each company, separate information and explanation has been provided. In addition, separate condensed consolidated financial statements for each company, along with notes to the condensed consolidated financial statements, are included in this report. Unless indicated otherwise, throughout this Quarterly Report on Form 10-Q, we refer to Comcast and its consolidated subsidiaries, including NBCUniversal and its consolidated subsidiaries, as “we,” “us” and “our;” Comcast Cable Communications, LLC and its consolidated subsidiaries as “Comcast Cable;” Comcast Holdings Corporation as “Comcast Holdings;” NBCUniversal, LLC as “NBCUniversal Holdings;” and NBCUniversal Enterprise, Inc. as “NBCUniversal Enterprise.”

This Quarterly Report on Form 10-Q is for the three and nine months ended September 30, 2018. This Quarterly Report on Form 10-Q modifies and supersedes documents filed before it. The Securities and Exchange Commission (“SEC”) allows us to “incorporate by reference” information that we file with it, which means that we can disclose important information to you by referring you directly to those documents. Information incorporated by reference is considered to be part of this Quarterly Report on Form 10-Q. In addition, information that we file with the SEC in the future will automatically update and supersede information contained in this Quarterly Report on Form 10-Q.

You should carefully review the information contained in this Quarterly Report on Form 10-Q and particularly consider any risk factors set forth in this Quarterly Report on Form 10-Q and in other reports or documents that we file from time to time with the SEC. In this Quarterly Report on Form 10-Q, we state our beliefs of future events and of our future financial performance. In some cases, you can identify these so-called “forward-looking statements” by words such as “may,” “will,” “should,” “expects,” “believes,” “estimates,” “potential,” or “continue,” or the negative of these words, and other comparable words. You should be aware that these statements are only our predictions. In evaluating these statements, you should consider various factors, including

the risks outlined below and in other reports we file with the SEC. Actual events or our actual results could differ materially from our forward-looking statements as a result of any such factors, which could adversely affect our businesses, results of operations or financial condition. We undertake no obligation to update any forward-looking statements.

Our businesses may be affected by, among other things, the following:

• our businesses currently face a wide range of competition, and our businesses and results of operations could be adversely affected if we do not compete effectively

• changes in consumer behavior driven by online distribution platforms for viewing content could adversely affect our businesses and challenge existing business models

• a decline in advertisers’ expenditures or changes in advertising markets could negatively impact our businesses

• our businesses depend on keeping pace with technological developments

• we are subject to regulation by federal, state, local and foreign authorities, which impose additional costs and restrictions on our businesses

• programming expenses for our video services are increasing, which could adversely affect our Cable Communications segment’s video business

• NBCUniversal’s success depends on consumer acceptance of its content, and its businesses may be adversely affected if its content fails to achieve sufficient consumer acceptance or the costs to create or acquire content increase

• the loss of NBCUniversal’s programming distribution agreements, or the renewal of these agreements on less favorable terms, could adversely affect its businesses

• we rely on network and information systems and other technologies, as well as key properties, and a disruption, cyber attack, failure or destruction of such networks, systems, technologies or properties may disrupt our businesses

• our businesses depend on using and protecting certain intellectual property rights and on not infringing the intellectual property rights of others

• we may be unable to obtain necessary hardware, software and operational support

• weak economic conditions may have a negative impact on our businesses

• acquisitions, including our acquisition of Sky plc, and other strategic initiatives present many risks, and we may not realize the financial and strategic goals that we had contemplated

• labor disputes, whether involving employees or sports organizations, may disrupt our operations and adversely affect our businesses

• the loss of key management personnel or popular on-air and creative talent could have an adverse effect on our businesses

• we face risks relating to doing business internationally that could adversely affect our businesses

• our Class B common stock has substantial voting rights and separate approval rights over several potentially material transactions, and our Chairman and CEO has considerable influence over our company through his beneficial ownership of our Class B common stock

PART I: FINANCIAL INFORMATION

ITEM 1: FINANCIAL STATEMENTS

Comcast Corporation

Condensed Consolidated Statement of Income

(Unaudited)

	Three Months Ended September 30						Nine Months Ended September 30
(in millions, except per share data)	2018			2017			2018			2017
Revenue	$	22,135		$	21,081		$	66,661		$	62,954
Costs and Expenses:
Programming and production	6,711			6,059			20,440			18,450
Other operating and administrative	6,444			6,535			19,323			18,642
Advertising, marketing and promotion	1,667			1,604			4,924			4,894
Depreciation	2,038			1,991			6,070			5,876
Amortization	580			555			1,750			1,645
Other operating gains	(141		)	(442		)	(341		)	(442		)
Total costs and expenses	17,299			16,302			52,166			49,065
Operating income	4,836			4,779			14,495			13,889
Interest expense	(830		)	(766		)	(2,413		)	(2,279		)
Investment and other income (loss), net	(111		)	70			92			299
Income before income taxes	3,895			4,083			12,174			11,909
Income tax expense	(999		)	(1,409		)	(2,894		)	(4,038		)
Net income	2,896			2,674			9,280			7,871
Less: Net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock	10			32			60			135
Net income attributable to Comcast Corporation	$	2,886		$	2,642		$	9,220		$	7,736
Basic earnings per common share attributable to Comcast Corporation shareholders	$	0.63		$	0.56		$	2.00		$	1.64
Diluted earnings per common share attributable to Comcast Corporation shareholders	$	0.62		$	0.55		$	1.98		$	1.61
Dividends declared per common share	$	0.19		$	0.1575		$	0.57		$	0.4725

See accompanying notes to condensed consolidated financial statements.

1

Comcast Corporation

Condensed Consolidated Statement of Comprehensive Income

(Unaudited)

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Net income	$	2,896		$	2,674		$	9,280		$	7,871
Unrealized gains (losses) on marketable securities, net of deferred taxes of $(1), $35, $(1), and $26	2			(59		)	—			(42		)
Deferred gains (losses) on cash flow hedges, net of deferred taxes of $5, $(9), $8, and $(16)	(15		)	16			(26		)	28
Amounts reclassified to net income:
Realized (gains) losses on marketable securities, net of deferred taxes of $—, $—, $— and $—	—			(1		)	—			(1		)
Realized (gains) losses on cash flow hedges, net of deferred taxes of $(5), $7, $(13) and $15	17			(12		)	43			(26		)
Employee benefit obligations, net of deferred taxes of $2, $3, $7 and $(30)	(8		)	(6		)	(24		)	51
Currency translation adjustments, net of deferred taxes of $25, $(8), $22 and $(47)	(103		)	20			(119		)	166
Comprehensive income	2,789			2,632			9,154			8,047
Less: Net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock	10			32			60			135
Less: Other comprehensive income (loss) attributable to noncontrolling interests	(20		)	5			(45		)	87
Comprehensive income attributable to Comcast Corporation	$	2,799		$	2,595		$	9,139		$	7,825

See accompanying notes to condensed consolidated financial statements.

2

Comcast Corporation

Condensed Consolidated Statement of Cash Flows

(Unaudited)

	Nine Months Ended September 30
(in millions)	2018			2017
Operating Activities
Net income	$	9,280		$	7,871
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and other operating gains	7,479			7,079
Share-based compensation	607			594
Noncash interest expense (income), net	289			187
Net (gain) loss on investment activity and other	118			(133		)
Deferred income taxes	877			681
Changes in operating assets and liabilities, net of effects of acquisitions and divestitures:
Current and noncurrent receivables, net	(225		)	123
Film and television costs, net	64			(71		)
Accounts payable and accrued expenses related to trade creditors	(85		)	(20		)
Other operating assets and liabilities	103			(454		)
Net cash provided by operating activities	18,507			15,857
Investing Activities
Capital expenditures	(6,607		)	(6,839		)
Cash paid for intangible assets	(1,375		)	(1,136		)
Acquisitions and construction of real estate properties	(129		)	(325		)
Construction of Universal Beijing Resort	(257		)	(47		)
Acquisitions, net of cash acquired	(88		)	(429		)
Proceeds from sales of investments	127			120
Purchases of investments	(840		)	(2,064		)
Other	579			797
Net cash provided by (used in) investing activities	(8,590		)	(9,923		)
Financing Activities
Proceeds from (repayments of) short-term borrowings, net	2,909			(2,807		)
Proceeds from borrowings	9,850			11,460
Repurchases and repayments of debt	(4,405		)	(5,021		)
Repurchases of common stock under repurchase program and employee plans	(4,282		)	(4,212		)
Dividends paid	(2,487		)	(2,147		)
Purchase of Universal Studios Japan noncontrolling interests	—			(2,299		)
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock	(209		)	(198		)
Other	(242		)	103
Net cash provided by (used in) financing activities	1,134			(5,121		)
Increase (decrease) in cash, cash equivalents and restricted cash	11,051			813
Cash, cash equivalents and restricted cash, beginning of period	3,571			3,415
Cash, cash equivalents and restricted cash, end of period	$	14,622		$	4,228

See accompanying notes to condensed consolidated financial statements.

3

Comcast Corporation

Condensed Consolidated Balance Sheet

(Unaudited)

(in millions, except share data)	September 30, 2018			December 31, 2017
Assets
Current Assets:
Cash and cash equivalents	$	10,616		$	3,428
Receivables, net	8,983			8,834
Programming rights	1,223			1,613
Other current assets	2,384			2,468
Total current assets	23,206			16,343
Film and television costs	7,377			7,087
Investments	7,724			6,931
Property and equipment, net of accumulated depreciation of $50,934 and $49,916	39,855			38,470
Franchise rights	59,365			59,364
Goodwill	36,703			36,780
Other intangible assets, net of accumulated amortization of $13,391 and $11,950	18,649			18,133
Other noncurrent assets, net	7,756			4,354
Total assets	$	200,635		$	187,462
Liabilities and Equity
Current Liabilities:
Accounts payable and accrued expenses related to trade creditors	$	7,036		$	6,908
Accrued participations and residuals	1,809			1,644
Deferred revenue	1,633			1,687
Accrued expenses and other current liabilities	5,976			6,620
Current portion of long-term debt	3,173			5,134
Total current liabilities	19,627			21,993
Long-term debt, less current portion	69,711			59,422
Deferred income taxes	25,167			24,259
Other noncurrent liabilities	12,468			10,972
Commitments and contingencies (Note 11)
Redeemable noncontrolling interests and redeemable subsidiary preferred stock	1,317			1,357
Equity:
Preferred stock—authorized, 20,000,000 shares; issued, zero	—			—
Class A common stock, $0.01 par value—authorized, 7,500,000,000 shares; issued, 5,412,851,422 and 5,507,854,670; outstanding, 4,540,060,394 and 4,635,063,642	54			55
Class B common stock, $0.01 par value—authorized, 75,000,000 shares; issued and outstanding, 9,444,375	—			—
Additional paid-in capital	37,394			37,497
Retained earnings	41,218			38,202
Treasury stock, 872,791,028 Class A common shares	(7,517		)	(7,517		)
Accumulated other comprehensive income (loss)	374			379
Total Comcast Corporation shareholders’ equity	71,523			68,616
Noncontrolling interests	822			843
Total equity	72,345			69,459
Total liabilities and equity	$	200,635		$	187,462

See accompanying notes to condensed consolidated financial statements.

4

Comcast Corporation

Condensed Consolidated Statement of Changes in Equity

(Unaudited)

	Redeemable Noncontrolling Interests and Redeemable Subsidiary Preferred Stock			Common Stock					Additional Paid-In Capital			Retained Earnings			Treasury Stock at Cost			Accumulated Other Comprehensive Income (Loss)			Non- controlling Interests			Total Equity
(in millions)				A			B
Balance, December 31, 2016	$	1,446		$	56		$	—	$	38,230		$	23,065		$	(7,517	)	$	98		$	2,231		$	56,163
Stock compensation plans									440															440
Repurchases of common stock under repurchase program and employee plans				(1		)			(633		)	(3,587		)										(4,221		)
Employee stock purchase plans									140															140
Dividends declared												(2,239		)										(2,239		)
Other comprehensive income (loss)																		89			87			176
Contributions from (distributions to) noncontrolling interests, net	(31		)																		(81		)	(81		)
Purchase of Universal Studios Japan noncontrolling interests									(696		)							194			(1,736		)	(2,238		)
Other	(114		)						48			(1		)							252			299
Net income (loss)	52											7,736									83			7,819
Balance, September 30, 2017	$	1,353		$	55		$	—	$	37,529		$	24,974		$	(7,517	)	$	381		$	836		$	56,258
Balance, December 31, 2017	$	1,357		$	55		$	—	$	37,497		$	38,202		$	(7,517	)	$	379		$	843		$	69,459
Cumulative effects of adoption of accounting standards												(43		)				76						33
Stock compensation plans									434															434
Repurchases of common stock under repurchase program and employee plans				(1		)			(757		)	(3,530		)										(4,288		)
Employee stock purchase plans									161															161
Dividends declared												(2,631		)										(2,631		)
Other comprehensive income (loss)																		(81		)	(45		)	(126		)
Contributions from (distributions to) noncontrolling interests, net	(42		)																		277			277
Other	(35		)						59												(276		)	(217		)
Net income (loss)	37											9,220									23			9,243
Balance, September 30, 2018	$	1,317		$	54		$	—	$	37,394		$	41,218		$	(7,517	)	$	374		$	822		$	72,345

See accompanying notes to condensed consolidated financial statements.

5

Comcast Corporation

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

Note 1: Condensed Consolidated Financial Statements

Business and Basis of Presentation

We have prepared these unaudited condensed consolidated financial statements based on SEC rules that permit reduced disclosure for interim periods. These financial statements include all adjustments that are necessary for a fair presentation of our consolidated results of operations, cash flows and financial condition for the periods shown, including normal, recurring accruals and other items. The consolidated results of operations for the interim periods presented are not necessarily indicative of results for the full year.

The year-end condensed consolidated balance sheet was derived from audited financial statements but does not include all disclosures required by generally accepted accounting principles in the United States (“GAAP”). For a more complete discussion of our accounting policies and certain other information, refer to our consolidated financial statements included in our 2017 Annual Report on Form 10-K and the footnotes within this Form 10-Q.

On October 9, 2018, we acquired a controlling interest in Sky plc. Beginning in the fourth quarter of 2018, Sky’s results will be included in our consolidated financial statements. See Note 6 for additional information on the transaction.

Reclassifications

Reclassifications have been made to our condensed consolidated financial statements for the prior year periods to conform to classifications used in 2018. See Note 7 for a discussion of the effects of the adoption of new accounting pronouncements and tax reform on our condensed consolidated financial statements.

Note 2: Segment Information

We present our operations in five reportable business segments:

• Cable Communications: Consists of the operations of Comcast Cable, which is one of the nation’s largest providers of video, high-speed Internet, voice, and security and automation services (“cable services”) to residential customers under the XFINITY brand; we also provide these and other services to business customers and sell advertising.

• Cable Networks:Consists primarily 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 various digital properties.

• Broadcast Television: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 various digital properties.

• Filmed Entertainment:Consists primarily of the operations of Universal Pictures, which produces, acquires, markets and distributes filmed entertainment worldwide; our films are also produced under the Illumination, DreamWorks Animation and Focus Features names.

• Theme Parks: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 Comcast Corporation excluded from Adjusted EBITDA are not separately evaluated. Our financial data by business segment is presented in the tables below.

6

Comcast Corporation

	Three Months Ended September 30, 2018
(in millions)	Revenue			Adjusted EBITDA(d)			Depreciation and Amortization		Capital Expenditures		Cash Paid for Intangible Assets
Cable Communications	$	13,787		$	5,615		$	2,071	$	1,944	$	353
NBCUniversal
Cable Networks	2,884			968			180		11		6
Broadcast Television	2,452			321			32		37		—
Filmed Entertainment	1,819			214			26		9		6
Theme Parks	1,528			725			170		269		23
Headquarters and Other(a)	15			(161		)	106		79		43
Eliminations(b)	(73		)	(1		)	—		—		—
NBCUniversal	8,625			2,066			514		405		78
Corporate and Other(c)	276			(378		)	33		35		14
Eliminations(b)	(553		)	10			—		—		—
Comcast Consolidated	$	22,135		$	7,313		$	2,618	$	2,384	$	445

	Three Months Ended September 30, 2017
(in millions)	Revenue			Adjusted EBITDA(d)			Depreciation and Amortization		Capital Expenditures		Cash Paid for Intangible Assets
Cable Communications	$	13,339		$	5,216		$	2,015	$	2,061	$	284
NBCUniversal
Cable Networks	2,603			906			179		5		4
Broadcast Television	2,125			316			33		66		4
Filmed Entertainment	1,753			383			32		18		6
Theme Parks	1,550			775			166		199		18
Headquarters and Other(a)	15			(122		)	97		66		37
Eliminations(b)	(70		)	(1		)	—		—		—
NBCUniversal	7,976			2,257			507		354		69
Corporate and Other(c)	266			(349		)	24		19		12
Eliminations(b)	(500		)	9			—		—		—
Comcast Consolidated	$	21,081		$	7,133		$	2,546	$	2,434	$	365

	Nine Months Ended September 30, 2018
(in millions)	Revenue			Adjusted EBITDA(d)			Depreciation and Amortization		Capital Expenditures		Cash Paid for Intangible Assets
Cable Communications	$	41,015		$	16,668		$	6,171	$	5,398	$	950
NBCUniversal
Cable Networks(e)	8,994			3,422			548		22		15
Broadcast Television(e)	8,340			1,245			106		99		75
Filmed Entertainment	5,176			555			117		24		20
Theme Parks	4,170			1,789			492		811		158
Headquarters and Other(a)	44			(497		)	314		179		106
Eliminations(b)(e)	(256		)	(3		)	—		—		—
NBCUniversal	26,468			6,511			1,577		1,135		374
Corporate and Other(c)	922			(1,167		)	72		74		51
Eliminations(b)(e)	(1,744		)	(38		)	—		—		—
Comcast Consolidated	$	66,661		$	21,974		$	7,820	$	6,607	$	1,375

7

Comcast Corporation

	Nine Months Ended September 30, 2017
(in millions)	Revenue			Adjusted EBITDA(d)			Depreciation and Amortization		Capital Expenditures		Cash Paid for Intangible Assets
Cable Communications	$	39,646		$	15,683		$	5,928	$	5,798	$	897
NBCUniversal
Cable Networks	7,939			3,076			574		15		11
Broadcast Television	6,574			1,054			96		125		11
Filmed Entertainment	5,862			1,041			79		47		17
Theme Parks	3,982			1,723			494		671		57
Headquarters and Other(a)	32			(542		)	292		119		101
Eliminations(b)	(242		)	(2		)	—		—		—
NBCUniversal	24,147			6,350			1,535		977		197
Corporate and Other(c)	679			(845		)	58		64		42
Eliminations(b)	(1,518		)	30			—		—		—
Comcast Consolidated	$	62,954		$	21,218		$	7,521	$	6,839	$	1,136

(a) NBCUniversal Headquarters and Other activities include costs associated with overhead, allocations, personnel costs and headquarter initiatives.

(b) 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

(c) 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.

(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 Comcast Corporation before net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock, 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. 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.

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Adjusted EBITDA	$	7,313		$	7,133		$	21,974		$	21,218
Adjustment for legal settlement	—			(250		)	—			(250		)
Depreciation	(2,038		)	(1,991		)	(6,070		)	(5,876		)
Amortization	(580		)	(555		)	(1,750		)	(1,645		)
Other operating gains	141			442			341			442
Interest expense	(830		)	(766		)	(2,413		)	(2,279		)
Investment and other income (loss), net	(111		)	70			92			299
Income before income taxes	$	3,895		$	4,083		$	12,174		$	11,909

(e) The revenue and operating costs and expenses associated with our broadcast of the 2018 PyeongChang 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.

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Note 3: Revenue

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Residential:
Video	$	5,591		$	5,760		$	16,878		$	17,206
High-Speed Internet	4,321			3,942			12,740			11,682
Voice	982			1,013			2,982			3,081
Business services	1,803			1,629			5,290			4,757
Advertising	684			594			1,932			1,774
Other	406			401			1,193			1,146
Total Cable Communications(a)	13,787			13,339			41,015			39,646
Distribution	1,680			1,533			5,251			4,645
Advertising	820			787			2,746			2,519
Content licensing and other	384			283			997			775
Total Cable Networks	2,884			2,603			8,994			7,939
Advertising	1,355			1,241			5,107			3,790
Content licensing	538			432			1,541			1,458
Distribution and other	559			452			1,692			1,326
Total Broadcast Television	2,452			2,125			8,340			6,574
Theatrical	601			515			1,564			2,003
Content licensing	719			662			2,100			2,080
Home entertainment	260			299			733			919
Other	239			277			779			860
Total Filmed Entertainment	1,819			1,753			5,176			5,862
Total Theme Parks	1,528			1,550			4,170			3,982
Headquarters and Other	15			15			44			32
Eliminations(b)	(73		)	(70		)	(256		)	(242		)
Total NBCUniversal	8,625			7,976			26,468			24,147
Corporate and Other	276			266			922			679
Eliminations(b)	(553		)	(500		)	(1,744		)	(1,518		)
Total revenue	$	22,135		$	21,081		$	66,661		$	62,954

(a) For the three and nine months ended September 30, 2018, 2.6% and 2.7%, respectively, of Cable Communications segment revenue was derived from franchise and other regulatory fees. For both the three and nine months ended September 30, 2017, 2.8% of Cable Communications segment revenue was derived from franchise and other regulatory fees.

(b) Included in Eliminations are transactions that our segments enter into with one another. See Note 2 for a description of these transactions.

We operate primarily in the United States, but also in select international markets, primarily in Europe and Asia. The table below summarizes revenue by geographic location.

	Three Months Ended September 30				Nine Months Ended September 30
(in millions)	2018		2017		2018		2017
United States	$	20,244	$	19,142	$	61,060	$	57,047
Foreign	1,891		1,939		5,601		5,907
Total revenue	$	22,135	$	21,081	$	66,661	$	62,954

No single customer accounted for a significant amount of revenue in any period presented.

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Cable Communications Segment

Residential

Our Cable Communications segment generates revenue from residential customers subscribing to our video, high-speed Internet, voice, and security and automation services, which we market individually and as bundled services at a discounted rate in the United States. Revenue from residential customers that purchase bundled services at a discounted rate is allocated between the separate services based on the respective stand-alone selling prices. The stand-alone selling prices are determined based on the current prices at which we separately sell the cable services. Significant judgment is used to determine performance obligations that should be accounted for separately and the allocation of revenue when services are combined in a bundle. Revenue related to our security and automation services is reported in other revenue.

We recognize revenue from residential cable services as the services are provided on a monthly basis. Subscription rates and related charges vary according to the services and features customers receive. Customers are typically billed in advance and pay on a monthly basis. Installation fees are deferred and recognized as revenue over the period of benefit to the customer, which is less than a year for residential customers. While a portion of our residential customers are subject to contracts for their cable services, which are typically 2 years in length, based on our evaluation of the terms of these contracts, we recognize revenue for these cable services on a basis that is consistent with our customers that are not subject to contracts. Our cable services generally involve customer premise equipment, such as set-top boxes, cable modems and wireless gateways. The timing and pattern of recognition for customer premise equipment revenue are consistent with those of our residential cable services. Sales commissions related to our residential customers are expensed as incurred, as the related period of benefit is less than a year.

Under the terms of our cable franchise agreements, we are generally required to pay the cable franchising authority an amount based on our gross video revenue. We generally pass these and other similar fees through to our cable services customers and classify these fees in the respective cable service revenue, with the corresponding costs included in other operating and administrative expenses.

Business Services

Our Cable Communications segment generates revenue from business customers subscribing to a variety of products and services. Our small business services offerings primarily include high-speed Internet services, as well as voice and video services, similar to those that we provide to our residential customers, and also include cloud-based solutions that provide file sharing, online backup and web conferencing, among other features. We also offer Ethernet network services that connect multiple locations and provide higher downstream and upstream speed options to medium-sized customers and larger enterprises, as well as advanced voice services. In addition, we provide cellular backhaul services to mobile network operators to help these customers manage their network bandwidth.

Recently, we have expanded our enterprise service offerings to include a software-defined networking product and our managed solutions business to offer enterprise customers support related to Wi-Fi networks, router management, network security, business continuity risks and other services. We primarily offer our enterprise service offerings to Fortune 1000 companies and other large enterprises with multiple locations both within and outside of our cable distribution footprint where we have agreements with other companies to use their networks to provide coverage.

We recognize revenue from business services as the services are provided on a monthly basis. Substantially all of our business customers are initially under contracts, with terms typically ranging from 2 years for small and medium-sized businesses to up to 5 years for larger enterprises. At any given time, the amount of future revenue to be earned related to fixed pricing under existing agreements is equal to approximately half of our annual business services revenue, of which the substantial majority will be recognized within 2 years. Customers with contracts may only discontinue service in accordance with the terms of their contracts. We receive payments from business customers based on a billing schedule established in our contracts, which is typically on a monthly basis. Installation revenue related to our business services customers and sales commissions are generally deferred and recognized over the respective contract terms.

Advertising

Our Cable Communications segment generates revenue from the sale of advertising and from our advanced advertising business. As part of our distribution agreements with cable networks, we generally receive an allocation of scheduled advertising time on cable networks that we sell to local, regional and national advertisers. In most cases, the available advertising units are sold by our sales force. We also represent the advertising sales efforts of other multichannel video providers in some markets. Since we are acting as the principal in these arrangements, we record the advertising that is sold in advertising revenue and the fees paid to multichannel video providers in other operating and administrative expenses. In some cases, we work with representation firms as an extension of our sales force to sell a portion of the advertising units allocated to us and record the revenue net of agency commissions. In addition, we generate revenue from the sale of advertising online and on our On Demand service. We enter into advertising arrangements with customers and have determined that a contract exists once all terms and conditions are agreed upon, typically when the number of advertising units is specifically identified and the timing of airing is scheduled. Advertisements are

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generally aired or viewed within one year once all terms and conditions are agreed upon. Advertising revenue is recognized in the period in which advertisements are aired or viewed. Payment terms vary by contract, although terms generally require payment within 30 to 60 days from when advertisements are aired or viewed. Our advanced advertising business provide technology, tools, marketplace solutions and data-driven insights to various customers in the media industry to more effectively engage with their targeted audiences. Revenue earned from our advanced advertising business is recognized when services are provided.

NBCUniversal Segments

Distribution

Our Cable Networks segment generates distribution revenue from the distribution of our cable network programming to traditional and virtual multichannel video providers. Our Broadcast Television segment generates distribution revenue from the fees received under retransmission consent agreements and associated fees received from NBC-affiliated local broadcast television stations.

Distribution revenue is recognized as programming is provided on a monthly basis, generally under multiyear agreements. Monthly fees received under distribution agreements with multichannel video providers are generally based on the number of subscribers. Payment terms and conditions vary by contract type, although terms generally include payment within 30 to 60 days.

Advertising

Our Cable Networks and Broadcast Television segments generate advertising revenue from the sale of advertising on our cable and broadcast networks, our owned local broadcast television stations, and various digital properties.

We enter into advertising arrangements with customers and have determined that a contract exists once all terms and conditions are agreed upon, typically when the number of advertising units is specifically identified and the timing of airing is scheduled. Advertisements are generally aired or viewed within one year once all terms are agreed upon. Advertising revenue is recognized, net of agency commissions, in the period in which advertisements are aired or viewed and payment occurs thereafter, generally within 30 days. In some instances, we guarantee audience ratings for the advertisements. To the extent there is a shortfall in contracts where the ratings were guaranteed, a portion of the revenue is deferred until the shortfall is settled, typically by providing additional advertising units generally within one year of the original airing.

Theatrical

Our Filmed Entertainment segment theatrical revenue is generated from the worldwide theatrical release of our produced and acquired films for exhibition in movie theaters and is affected by the timing, nature and number of films released in movie theaters and their acceptance by audiences. Theatrical revenue is also affected by the number of exhibition screens, ticket prices, the percentage of ticket sale retention by the exhibitors and the popularity of competing films at the time our films are released. We recognize theatrical revenue as the films are viewed and exhibited in theaters and payment generally occurs within 60 days after exhibition.

Content Licensing

Our Cable Networks, Broadcast Television and Filmed Entertainment segments generate revenue from the licensing of our owned film and television content in the United States and internationally to cable, broadcast and premium networks and subscription video on demand services. Our content licensing agreements generally include fixed pricing and span multiple years. For example, following a film’s theatrical release, our Filmed Entertainment segment may license the exhibition rights of a film to different customers over multiple successive distribution windows.

We recognize revenue when the content is delivered and available for use by the licensee. When the term of an existing agreement is renewed or extended, we recognize revenue at the later of when the content is available or when the renewal or extension period begins. Payment terms and conditions vary by contract type, although payments are generally collected over the license term. The amount of future revenue to be earned related to fixed pricing under existing agreements primarily relates to our Filmed Entertainment segment, which at any given time equals approximately 1 to 2 years of our annual Filmed Entertainment content licensing revenue. The substantial majority of this revenue will be recognized within 2 years. This amount may fluctuate from period to period depending on the timing of the release and the availability of content under existing agreements and may not represent the total content licensing revenue expected to be recognized as it does not include revenue from future agreements or from variable pricing or optional purchases under existing agreements.

For our content licensing agreements that include variable pricing, such as pricing based on the number of subscribers to a subscription video on demand service sold by our customers, we generally recognize revenue as our customers sell to their subscribers.

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Home Entertainment

Our Filmed Entertainment segment generates revenue from the sale of our produced and acquired films on standard-definition digital video discs and Blu-ray discs (together, “DVDs”) and through digital distribution services. Our Cable Networks and Broadcast Television networks also generate revenue from the sale of owned programming on DVDs and through digital distribution services, which is reported in other revenue. We recognize revenue from DVD sales, net of estimated returns and customer incentives, on the date that DVDs are delivered to and made available for sale by retailers. Payment terms generally include payment within 60 to 90 days from delivery to the retailer.

Theme Parks

Our Theme Parks segment generates revenue primarily from ticket sales and guest spending at our Universal theme parks in Orlando, Florida; Hollywood, California; and Osaka, Japan. Guest spending includes in-park spending on food, beverages and merchandise. We recognize revenue from theme park ticket sales when the tickets are used, generally within a year from the date of purchase. For annual passes, we generally recognize revenue on a straight-line basis over the period the pass is available to be used. We recognize revenue from guest spending at the point of sale.

Condensed Consolidated Balance Sheet

The following tables summarize our accounts receivable and other balances that are not separately presented in our condensed consolidated balance sheet that relate to the recognition of revenue and collection of the related cash, as well as deferred costs associated with our contracts with customers.

(in millions)	September 30, 2018		December 31, 2017
Receivables, gross	$	9,300	$	9,122
Less: Allowance for doubtful accounts	317		288
Receivables, net	$	8,983	$	8,834

(in millions)	September 30, 2018		December 31, 2017
Noncurrent receivables, net (included in other noncurrent assets, net)	$	1,207	$	1,184
Contract acquisition and fulfillment costs (included in other noncurrent assets, net)	$	928	$	922
Noncurrent deferred revenue (included in other noncurrent liabilities)	$	572	$	497

In our Cable Communications segment, we manage credit risk by screening applicants through the use of internal customer information, identification verification tools and credit bureau data, as well as offering customers the opportunity to establish automatic monthly payments. If a customer’s account is delinquent, various measures are used to collect outstanding amounts, including termination of the customer’s cable services.

Note 4: Earnings Per Share

Computation of Diluted EPS

	Three Months Ended September 30
	2018					2017
(in millions, except per share data)	Net Income Attributable to Comcast Corporation		Shares	Per Share Amount		Net Income Attributable to Comcast Corporation		Shares	Per Share Amount
Basic EPS attributable to Comcast Corporation shareholders	$	2,886	4,564	$	0.63	$	2,642	4,698	$	0.56
Effect of dilutive securities:
Assumed exercise or issuance of shares relating to stock plans			55					79
Diluted EPS attributable to Comcast Corporation shareholders	$	2,886	4,619	$	0.62	$	2,642	4,777	$	0.55

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Comcast Corporation

	Nine Months Ended September 30
	2018					2017
(in millions, except per share data)	Net Income Attributable to Comcast Corporation		Shares	Per Share Amount		Net Income Attributable to Comcast Corporation		Shares	Per Share Amount
Basic EPS attributable to Comcast Corporation shareholders	$	9,220	4,599	$	2.00	$	7,736	4,725	$	1.64
Effect of dilutive securities:
Assumed exercise or issuance of shares relating to stock plans			56					81
Diluted EPS attributable to Comcast Corporation shareholders	$	9,220	4,655	$	1.98	$	7,736	4,806	$	1.61

Diluted earnings per common share attributable to Comcast Corporation shareholders (“diluted EPS”) considers the impact of potentially dilutive securities using the treasury stock method. Our potentially dilutive securities include potential common shares related to our stock options and our restricted share units (“RSUs”). The amount of potential common shares related to our share-based compensation plans that were excluded from diluted EPS because their effect would have been antidilutive was not material for the three and nine months ended September 30, 2018 and 2017.

Note 5: Long-Term Debt

As of September 30, 2018, our debt had a carrying value of $72.9 billion and an estimated fair value of $74.5 billion. The estimated fair value of our publicly traded debt was primarily based on Level 1 inputs that use quoted market values for the debt. The estimated fair value of debt for which there are no quoted market prices was based on Level 2 inputs that use interest rates available to us for debt with similar terms and remaining maturities. See Note 6 for information regarding the financing of the Sky transaction.

Debt Borrowings
(in millions)	Nine Months Ended September 30, 2018
Comcast sterling-denominated term loan due 2021 (see Note 6)	$	3,913
Comcast revolving credit facility (see Note 6)	1,500
Comcast 3.90% senior notes due 2038	1,200
Comcast 3.55% senior notes due 2028	1,000
Comcast 4.00% senior notes due 2048	1,000
Comcast 4.25% senior notes due 2053	800
Universal Beijing Resort term loans (see Note 6)	386
Other	51
Total	$	9,850

Debt Repayments
(in millions)	Nine Months Ended September 30, 2018
NBCUniversal Enterprise 1.662% senior notes due 2018	$	1,100
Comcast 5.70% senior notes due 2018	1,000
Comcast 5.875% senior notes due 2018	900
NBCUniversal Enterprise senior floating rate notes due 2018	700
Universal Studios Japan term loans maturing 2022	362
Other	343
Total	$	4,405

Revolving Credit Facilities

As of September 30, 2018, $1.5 billion was outstanding under our consolidated revolving credit facilities. Amounts available under our consolidated revolving credit facilities, net of amounts outstanding under our commercial paper programs and outstanding letters of credit, totaled $3.8 billion, which included $823 million available under NBCUniversal Enterprise’s revolving credit facility.

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Commercial Paper Programs

As of September 30, 2018, Comcast had $3 billion face amount of commercial paper outstanding. As of September 30, 2018, NBCUniversal Enterprise had $794 million face amount of commercial paper outstanding.

Note 6: Significant Transactions

Sky Transaction

On October 9, 2018, in connection with our offer to acquire the share capital of Sky, we acquired a controlling interest in Sky through a series of purchases of Sky shares and acceptances of the offer at our offer price of £17.28 per Sky share.Because shareholders owning over 90% of the fully diluted share capital of Sky have either accepted our offer or sold their Sky shares to us, we have exercised, in accordance with applicable U.K. law, our right to acquire the remaining shares of Sky, which we expect will be completed in the fourth quarter of 2018.The consideration under our offer implies a value of approximately£30.2 billion (approximately $39.4 billionusing the exchange rate on October 9, 2018) for the fully diluted share capital of Sky.As of October 9, 2018, Sky had outstanding indebtedness that will be consolidated in our financial statements with an aggregate principal amount of approximately$11 billionusing the exchange rates as of such date, which is not guaranteed by us, Comcast Cable Communications, LLC or NBCUniversal.

Sky is one of Europe’s leading media and entertainment companies, connecting customers to a broad range of video content through its pay television services. It also provides communication services, including residential high-speed Internet, voice, and wireless phone services. Sky operates the Sky News broadcast network and sports and entertainment networks, produces original content, and has exclusive content rights.

To finance our acquisition, in September 2018, we borrowed £3.0 billion ($3.9 billion using the exchange rate on the date of borrowing) under our £7.0 billion unsecured sterling-denominated term loan credit agreement and $1.5 billion under Comcast’s revolving credit facility, and issued $3.0 billion of commercial paper under Comcast’s commercial paper program, all of which were classified as long-term debt at September 30, 2018. The proceeds from the term loan borrowing were restricted as to use for purchase of Sky shares and were classified as restricted cash in other noncurrent assets, net.Additionally, in October 2018, we issued$27.0 billionaggregate amount of senior unsecured fixed and floating rate notes that will mature between 2020 and 2058, and borrowed£3.6 billion ($4.8 billionusing the exchange rates on the dates of borrowings) under our£7.0 billionunsecured sterling-denominated term loan credit agreement and$3.0 billionunder our$3.0 billionunsecured dollar-denominated term loan credit agreement. The unsecured term loans and senior notes are guaranteed by Comcast Cable Communications, LLC and NBCUniversal. In October 2018, we used a portion of the net proceeds from the senior notes offering to repay the commercial paper outstanding and revolving credit facility borrowings, and to replenish a portion of our cash, in each case, that had been previously used for purchases of Sky shares.

Acquisition-Related Expenses

As a result of the Sky transaction, we have incurred incremental expenses related to legal, accounting, valuation and other professional services, which are reflected in other operating and administrative expenses. We also incurred certain financing costs associated with our borrowings, which are reflected in interest expense. The table below presents the amounts related to these expenses included in our consolidated statement of operations. Additional acquisition-related fees are expected in the fourth quarter of 2018.

	Three Months Ended September 30		Nine Months Ended September 30
(in millions)	2018		2018
Other operating and administrative expenses	$	8	$	29
Interest expense	$	34	$	45

Preliminary Purchase Price Allocation and Unaudited Pro Forma Information

We will apply acquisition accounting to Sky and its results of operations will be included in our consolidated results of operations from the date of acquisition. The assets and liabilities acquired as a result of the transaction will be recorded at their estimated fair values. Due to the limited time since the acquisition date and limitations on access to Sky information prior to the acquisition date, the initial accounting for the transaction is incomplete at this time. As a result, we are unable to provide amounts recognized as of the acquisition date for assets and liabilities acquired. Also, because the initial accounting for the transaction is incomplete, we are unable to provide supplemental pro forma revenue and earnings of the combined entity. We will include this information in future filings.

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Universal Beijing Resort

We entered into an agreement with a consortium of Chinese state-owned companies to build and operate a Universal theme park and resort in Beijing, China (“Universal Beijing Resort”). We own a 30% interest in Universal Beijing Resort and the construction will be funded through a combination of debt financing and equity contributions from the investors in accordance with their equity interests. The debt financing, which is being provided by a syndicate of Chinese financial institutions, contains certain financial and operating covenants and a maximum borrowing limit of ¥26.6 billion RMB (approximately $4 billion as of quarter end). The debt financing is secured by the assets of Universal Beijing Resort and the equity interests of the investors. For the nine months ended September 30, 2018, Universal Beijing Resort borrowed $386 million of term loans under the debt financing agreements.

We have concluded that Universal Beijing Resort is a variable interest entity based on its governance structure, and we consolidate it because we have the power to direct activities that most significantly impact its economic performance. There are no liquidity arrangements, guarantees or other financial commitments between us and Universal Beijing Resort, and therefore our maximum risk of financial loss is our 30% interest. Universal Beijing Resort’s results of operations are reported in our Theme Parks segment. Our condensed consolidated statement of cash flows includes the costs of construction and related borrowings in the "construction of Universal Beijing Resort" and "proceeds from borrowings" captions, respectively, and equity contributions from our investing partner are included in other financing activities.

In March 2018, Universal Beijing Resort received initial equity investments through a combination of cash and noncash contributions from the investors. As of September 30, 2018, our condensed consolidated balance sheet included assets, primarily property and equipment, and liabilities, including the term loans, of Universal Beijing Resort totaling $1.2 billion and $728 million, respectively.

FCC Spectrum Auction

On April 13, 2017, the Federal Communications Commission announced the results of its spectrum auction. In the auction, NBCUniversal relinquished its spectrum rights in the New York, Philadelphia and Chicago designated market areas (“DMAs”) where NBC and Telemundo had overlapping spectrum. NBCUniversal received proceeds of $482 million in July 2017, which were recorded in other investing activities in our condensed consolidated statement of cash flows. NBCUniversal recognized a pretax gain of $337 million in other operating gains for the three and nine months ended September 30, 2017 in our condensed consolidated statement of income. NBC and Telemundo stations share broadcast signals in these DMAs. In connection with the auction, we also acquired the rights to $1.7 billion of spectrum, which were recorded to other intangible assets, net in our condensed consolidated balance sheet. We had previously made a deposit of $1.8 billion to participate in the auction in the third quarter of 2016 and received a refund for amounts in excess of the purchase price in the second quarter of 2017.

Universal Studios Japan

On April 6, 2017, we acquired the remaining interests in Universal Studios Japan that we did not already own for $2.3 billion. The acquisition was funded through cash on hand and borrowings under our commercial paper program. Because we maintained control of Universal Studios Japan, the difference between the consideration transferred and the recorded value of the noncontrolling interests, as well as the related tax and accumulated other comprehensive income impacts, were recorded to additional paid-in capital.

Note 7: Recent Accounting Pronouncements and Tax Reform

Revenue Recognition

In May 2014, the Financial Accounting Standards Board (“FASB”) updated the accounting guidance related to revenue recognition. The updated accounting guidance provides a single, contract-based revenue recognition model to help improve financial reporting by providing clearer guidance on when an entity should recognize revenue and by reducing the number of standards to which an entity has to refer. The core principle of the new standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services.

We adopted the updated guidance on January 1, 2018 on a full retrospective basis, which required us to reflect the impact of the updated guidance for all periods presented. Upon adoption, we also implemented changes in our presentation of certain revenues and expenses, primarily in our Cable Communications segment.

The adoption of the new standard did not have a material impact on our consolidated results of operations or financial position for any period presented. The updated guidance also requires additional disclosures regarding the nature, timing and uncertainty of our revenue transactions (see Note 3).

The tables below present the effects on our condensed consolidated statement of income and balance sheet for the prior year periods presented.

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Condensed Consolidated Statement of Income

	Three Months Ended September 30, 2017							Nine Months Ended September 30, 2017
(in millions)	Previously Reported		Effects of Adoption			As Adjusted		Previously Reported		Effects of Adoption		As Adjusted
Revenue	$	20,983	$	98		$	21,081	$	62,611	$	343	$	62,954
Total costs and expenses	$	16,191	$	111		$	16,302	$	48,731	$	334	$	49,065
Operating income	$	4,792	$	(13	)	$	4,779	$	13,880	$	9	$	13,889
Net income attributable to Comcast Corporation	$	2,650	$	(8	)	$	2,642	$	7,729	$	7	$	7,736

Condensed Consolidated Balance Sheet

	December 31, 2017
(in millions)	Previously Reported		Effects of Adoption			As Adjusted
Total current assets	$	16,060	$	283		$	16,343
Film and television costs	$	7,076	$	11		$	7,087
Other intangible assets, net	$	18,779	$	(646	)	$	18,133
Other noncurrent assets, net	$	3,489	$	865		$	4,354
Total assets	$	186,949	$	513		$	187,462
Total current liabilities	$	21,561	$	432		$	21,993
Deferred income taxes	$	24,256	$	3		$	24,259
Other noncurrent liabilities	$	10,904	$	68		$	10,972
Total equity	$	69,449	$	10		$	69,459
Total liabilities and equity	$	186,949	$	513		$	187,462

Cable Communications

A summary of the changes implemented for the Cable Communications segment is presented below.

Changes to Presentation of Revenue and Related Costs

• Revenue from our residential video services decreased with corresponding increases to high-speed Internet and voice revenue due to a change in the allocation of revenue among our cable services included in a bundle that our residential customers purchase at a discount.

• Revenue from franchise and other regulatory fees, which was previously presented in other revenue, is now presented with the corresponding cable services. This resulted in increases to video, voice and business services revenue.

• Residential customer late fees are now presented in other revenue. These fees were previously presented as a reduction to other operating costs and expenses.

• Certain costs, including costs related to the fulfillment of contracts with customers, are now presented as other assets and the related costs are recognized over time in operating costs and expenses, which are comprised of total costs and expenses, excluding depreciation and amortization expense and other operating gains. These amounts were previously presented as intangible assets, and the expenses were previously presented in amortization expense. The payments related to these assets are now presented in net cash provided by operating activities rather than in cash paid for intangible assets in our consolidated statement of cash flows.

Changes to the Timing of Recognition of Revenue and Related Costs

• Installation revenue and commission expense are now recognized as revenue and operating costs and expenses, respectively, over a period of time rather than recognized immediately as they were previously. We recorded a deferred revenue liability related to upfront installation fees that are not distinct services, which required us to allocate the installation fees to the respective service. The installation fees are generally recognized as revenue over the period that the fee would influence a customer to renew their service. This period is less than a year for residential customers and the term of the related contract for business services customers. Incremental costs to obtain a contract with a customer, such as commissions for our business customers, are now deferred and recognized over the contract term. Sales commissions related to our residential customers are expensed as incurred as the related period of benefit is less than a year.

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The table below presents the effects these changes had on our Cable Communications segment revenue, operating costs and expenses, and depreciation and amortization expense as a result of the updated guidance for the prior year periods. Previously reported amounts are based on amounts previously presented in the segment information footnote.

	Three Months Ended September 30, 2017							Nine Months Ended September 30, 2017
(in millions)	Previously Reported		Effects of Adoption			As Adjusted		Previously Reported		Effects of Adoption			As Adjusted
Residential:
Video	$	5,825	$	(65	)	$	5,760	$	17,396	$	(190	)	$	17,206
High-speed Internet	3,709		233			3,942		10,994		688			11,682
Voice	840		173			1,013		2,559		522			3,081
Business services	1,575		54			1,629		4,596		161			4,757
Advertising	542		52			594		1,628		146			1,774
Other	712		(311		)	401		2,064		(918		)	1,146
Total Cable Communications revenue	$	13,203	$	136		$	13,339	$	39,237	$	409		$	39,646
Operating costs and expenses	$	7,957	$	166		$	8,123	$	23,473	$	490		$	23,963
Depreciation and amortization expense	$	2,049	$	(34	)	$	2,015	$	6,030	$	(102	)	$	5,928

NBCUniversal Segments

The adoption of the updated guidance impacted the timing of recognition for some of our revenue contracts, primarily for content licensing agreements. As a result of the adoption of the updated guidance, when the term of existing content licensing agreements is renewed or extended, revenue is not recognized until the date when the renewal or extension period begins. Under the prior guidance, revenue for the content licensing renewal period was recognized on the date that the renewal was agreed to contractually. This change resulted in delayed revenue recognition for content licensing renewals or extensions in our Cable Networks, Broadcast Television and Filmed Entertainment segments. This change also impacted the timing of the related amortization of our film and television costs and participations and residuals expenses. The adoption of the updated guidance did not have a material impact on the results of operations or financial position for the NBCUniversal segments.

Financial Assets and Financial Liabilities

In January 2016, the FASB updated the accounting guidance related to the recognition and measurement of financial assets and financial liabilities. The updated accounting guidance, among other things, requires that all nonconsolidated equity investments, except those accounted for under the equity method, be measured at fair value and the changes in fair value be recognized in net income. On January 1, 2018, we adopted the updated guidance prospectively along with a related clarifying update and as a result, we recorded an immaterial cumulative effect adjustment to retained earnings, accumulated other comprehensive income (loss) and investments. See Note 9 for further information.

Tax Reform

On December 22, 2017, new federal tax reform legislation was enacted in the United States (“2017 Tax Act”), resulting in significant changes from previous tax law. The new legislation reduced the federal corporate income tax rate to 21% from 35% effective January 1, 2018. In the fourth quarter of 2017, we recorded a net income tax benefit of approximately $12.7 billion on the date of enactment of the new legislation, primarily relating to a reduction of our net deferred tax liabilities as a result of the rate change. This amount also includes the reversal of our net deferred tax liabilities related to cumulative undistributed foreign earnings and deferred tax assets for related foreign tax credits, partially offset by the one-time deemed repatriation tax on undistributed foreign earnings and profits.

The adjustments to deferred tax assets and liabilities, and the liability related to the transition tax, are provisional amounts based on information available as of September 30, 2018. These amounts are subject to change as we obtain information necessary to complete the calculations. During the nine months ended September 30, 2018, we recorded immaterial adjustments to the provisional amounts related to the cumulative temporary differences and the one-time deemed repatriation tax on undistributed foreign earnings and profits. We expect to complete our analysis of the provisional items in the fourth quarter of 2018.

In February 2018, the FASB issued guidance that permits companies to reclassify disproportionate tax effects recorded in accumulated other comprehensive income as a result of the 2017 Tax Act to retained earnings. We adopted the guidance as of January 1, 2018 and, as a result, we recorded an immaterial cumulative effect adjustment to retained earnings and accumulated other comprehensive income (loss).

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Comcast Corporation

In February 2018, the Bipartisan Budget Act of 2018 was enacted. As part of this legislation, various tax provisions that had expired on December 31, 2016 were retroactively extended to December 31, 2017, including the statute permitting the immediate deduction for certain film and television production costs. We recorded an income tax benefit of $128 million in the first quarter of 2018 as a result of the enactment of this legislation.

Restricted Cash

In November 2016, the FASB updated the accounting guidance related to restricted cash. The new standard requires that the statement of cash flows present the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents, and a reconciliation of such total to amounts on the balance sheet. We adopted the updated guidance on January 1, 2018 and as required applied the retrospective transition method. The adoption did not have a material impact for any period presented.

Leases

In February 2016, the FASB updated the accounting guidance related to leases. The updated accounting guidance requires lessees to recognize a right-of-use asset and a lease liability on the balance sheet for all leases with the exception of short-term leases. The asset and liability are initially measured based on the present value of committed lease payments. For a lessee, the recognition, measurement and presentation of expenses and cash flows arising from a lease do not significantly change from previous guidance. For a lessor, the accounting applied is also largely unchanged from previous guidance. We will adopt the updated accounting guidance in the first quarter of 2019 and prior periods will not be adjusted. We are currently in the process of determining the impact that the updated accounting guidance will have on our consolidated financial statements.

Note 8: Film and Television Costs

(in millions)	September 30, 2018		December 31, 2017
Film Costs:
Released, less amortization	$	1,573	$	1,734
Completed, not released	242		50
In production and in development	1,010		1,149
	2,825		2,933
Television Costs:
Released, less amortization	2,286		2,260
In production and in development	905		818
	3,191		3,078
Programming rights, less amortization	2,584		2,689
	8,600		8,700
Less: Current portion of programming rights	1,223		1,613
Film and television costs	$	7,377	$	7,087

Note 9: Investments

(in millions)	September 30, 2018		December 31, 2017
Equity method	$	4,163	$	3,546
Marketable equity securities	322		433
Nonmarketable equity securities	1,528		1,186
Other investments	1,798		1,785
Total investments	7,811		6,950
Less: Current investments	87		19
Noncurrent investments	$	7,724	$	6,931

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Comcast Corporation

Investment and Other Income (Loss), Net

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Equity in net income (losses) of investees, net	$	(76	)	$	(39	)	$	(56	)	$	12
Realized and unrealized gains (losses) on equity securities, net	(38		)	7			(50		)	—
Other income (loss), net	3			102			198			287
Investment and other income (loss), net	$	(111	)	$	70		$	92		$	299

Beginning January 1, 2018, in connection with our adoption of the updated accounting guidance related to the recognition and measurement of financial assets and financial liabilities (see Note 7), we updated the presentation and accounting policies for our investments previously classified as fair value and cost method investments. The investment categories presented in the table above are based on the new guidance and updated policies, where applicable, are presented below.

Equity Method

Atairos

In February 2018, we amended our agreement with Atairos, which primarily increases our commitment to fund Atairos from up to $4 billion to up to $5 billion in the aggregate at any one time, subject to certain offsets.

As of September 30, 2018 and December 31, 2017, we had an investment in Atairos of $2.9 billion and $2.4 billion, respectively. For the nine months ended September 30, 2018 and 2017, we made cash capital contributions to Atairos totaling $133 million and $994 million, respectively. Atairos follows investment company accounting and records its investments at their fair values each reporting period with the net gains or losses reflected in its statement of income. We recognize our share of Atairos’ income and losses in equity in net income (losses) of investees, net. For the three and nine months ended September 30, 2018, our share of Atairos’ income was $38 million and $224 million, respectively. For the three and nine months ended September 30, 2017, our share of Atairos’ income was $7 million and $106 million, respectively.

In April 2018, we sold a controlling interest in our arena management-related businesses to Atairos and received as consideration additional equity interests in Atairos. We account for our retained ownership in the businesses as an equity method investment. In connection with the sale of the businesses, we recognized a pretax gain of $200 million in other operating gains in the second quarter of 2018.

In July 2017, we sold a business to a company owned by Atairos and received as consideration an investment in that company, which we account for as an equity method investment. In connection with the sale of the business, we recognized a pretax gain of $105 million in other operating gains in the third quarter of 2017.

Hulu

As of September 30, 2018 and December 31, 2017, we had an investment in Hulu of $219 million and $249 million, respectively. For the nine months ended September 30, 2018 and 2017, we made cash capital contributions to Hulu totaling $341 million and $198 million, respectively. We recognize our proportionate share of Hulu’s income and losses in equity in net income (losses) of investees, net. For the three and nine months ended September 30, 2018, we recognized our proportionate share of Hulu’s losses of $132 million and $370 million, respectively. For the three and nine months ended September 30, 2017, we recognized our proportionate share of Hulu’s losses of $62 million and $168 million, respectively.

The Weather Channel

In March 2018, we sold our investment in The Weather Channel cable network and recognized a pretax gain of $64 million in other income (loss), net.

Marketable Equity Securities

We classify publicly traded investments with readily determinable fair values that are not accounted for under the equity method as marketable equity securities. Marketable equity securities are recorded at cost and adjusted to fair value at each reporting period. The changes in fair value between measurement dates are recorded in realized and unrealized gains (losses) on equity securities, net. The fair values of our marketable equity securities are based on Level 1 inputs that use quoted market prices.

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Comcast Corporation

Snap

In March 2017, we acquired an interest in Snap Inc. for $500 million as part of its initial public offering, which we have classified as a marketable equity security. Snap is a camera company whose primary product is Snapchat, a camera app that was created to help people communicate through short videos and images. As of September 30, 2018 and December 31, 2017, we had an investment in Snap of $249 million and $430 million, respectively. For the three and nine months ended September 30, 2018, we recognized unrealized losses of $135 million and $180 million, respectively, in realized and unrealized gains (losses) on equity securities, net related to our investment in Snap.

Nonmarketable Equity Securities

We classify investments without readily determinable fair values that are not accounted for under the equity method as nonmarketable equity securities. The accounting guidance requires nonmarketable equity securities to be recorded at cost and adjusted to fair value at each reporting period. However, the guidance allows for a measurement alternative, which is to record the investments at cost, less impairment, if any, and subsequently adjust for observable price changes of identical or similar investments of the same issuer. We apply this measurement alternative to a majority of our nonmarketable equity securities. When an observable event occurs, we estimate the fair values of our nonmarketable equity securities based on Level 2 inputs that are derived from observable price changes of similar securities adjusted for insignificant differences in rights and obligations. The changes in value are recorded in realized and unrealized gains (losses) on equity securities, net.

Other Investments

AirTouch

We hold two series of preferred stock of Verizon Americas, Inc., formerly known as AirTouch Communications, Inc. (“AirTouch”), a subsidiary of Verizon Communications Inc., which are redeemable in April 2020. As of both September 30, 2018 and December 31, 2017, we had an investment in AirTouch of $1.6 billion. We account for our investment in AirTouch as a held to maturity investment using the cost method. As of September 30, 2018, the estimated fair value of the AirTouch preferred stock and the estimated fair value of the associated liability related to the redeemable subsidiary preferred shares issued by one of our consolidated subsidiaries were each $1.7 billion. The estimated fair values are based on Level 2 inputs that use pricing models whose inputs are derived primarily from or corroborated by observable market data through correlation or other means for substantially the full term of the financial instrument.

Note 10: Supplemental Financial Information

Share-Based Compensation

Our share-based compensation plans consist primarily of awards of RSUs and stock options to certain employees and directors as part of our approach to long-term incentive compensation. Additionally, through our employee stock purchase plans, employees are able to purchase shares of our common stock at a discount through payroll deductions.

In March 2018, we granted 12.1 million RSUs and 41.0 million stock options related to our annual management awards. The weighted-average fair values associated with these grants were $35.94 per RSU and $7.15 per stock option.

Recognized Share-Based Compensation Expense

	Three Months Ended September 30				Nine Months Ended September 30
(in millions)	2018		2017		2018		2017
Restricted share units	$	94	$	99	$	279	$	284
Stock options	50		52		155		155
Employee stock purchase plans	7		8		24		25
Total	$	151	$	159	$	458	$	464

As of September 30, 2018, we had unrecognized pretax compensation expense of $914 million and $489 million related to nonvested RSUs and nonvested stock options, respectively.

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Comcast Corporation

Cash Payments for Interest and Income Taxes

	Nine Months Ended September 30
(in millions)	2018		2017
Interest	$	2,240	$	2,277
Income taxes	$	1,533	$	3,415

Noncash Investing and Financing Activities

During the nine months ended September 30, 2018:

• we acquired $2.1 billion of property and equipment and intangible assets that were accrued but unpaid

• we recorded a liability of $864 million for a quarterly cash dividend of $0.19 per common share to be paid in October2018

• we received noncash contributions from noncontrolling interests totaling $391 million related to Universal Beijing Resort (see Note 6)

Cash, Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the condensed consolidated balance sheet to the total of the amounts reported in our condensed consolidated statement of cash flows.

(in millions)	September 30, 2018		December 31, 2017
Cash and cash equivalents	$	10,616	$	3,428
Restricted cash included in other current assets	47		60
Restricted cash included in other noncurrent assets, net	3,959		83
Cash, cash equivalents and restricted cash, end of period	$	14,622	$	3,571

Accumulated Other Comprehensive Income (Loss)

(in millions)	September 30, 2018		September 30, 2017
Unrealized gains (losses) on marketable securities	$	2	$	(43	)
Deferred gains (losses) on cash flow hedges	28		(12		)
Unrecognized gains (losses) on employee benefit obligations	294		270
Cumulative translation adjustments	50		166
Accumulated other comprehensive income (loss), net of deferred taxes	$	374	$	381

Note 11: Commitments and Contingencies

Redeemable Subsidiary Preferred Stock

As of September 30, 2018, the fair value of the NBCUniversal Enterprise redeemable subsidiary preferred stock was $742 million. The estimated fair value is based on Level 2 inputs that use pricing models whose inputs are derived primarily from or corroborated by observable market data through correlation or other means for substantially the full term of the financial instrument.

Contingencies

We are a defendant in several unrelated lawsuits claiming infringement of various patents relating to various aspects of our businesses. In certain of these cases, other industry participants are also defendants, and also in certain of these cases, we expect that any potential liability would be in part or in whole the responsibility of our equipment and technology vendors under applicable contractual indemnification provisions. In addition, we are subject to other legal proceedings and claims that arise in the ordinary course of our business. While the amount of ultimate liability with respect to such actions is not expected to materially affect our results of operations, cash flows or financial position, any litigation resulting from any such legal proceedings or claims could be time-consuming and injure our reputation.

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Comcast Corporation

Note 12: Condensed Consolidating Financial Information

Comcast (“Comcast Parent”), Comcast Cable Communications, LLC (“CCCL Parent”), and NBCUniversal (“NBCUniversal Media Parent”) have fully and unconditionally guaranteed each other’s debt securities, including the Comcast revolving credit facility.

Comcast Parent and CCCL Parent also fully and unconditionally guarantee NBCUniversal Enterprise’s $3 billion aggregate principal amount of senior notes and $1.6 billion revolving credit facility and commercial paper program. NBCUniversal Media Parent does not guarantee the NBCUniversal Enterprise senior notes, revolving credit facility or commercial paper program.

Comcast Parent provides an unconditional guarantee of the Universal Studios Japan $3.5 billion term loans with a final maturity of March 2022. Comcast Parent also provides an unconditional subordinated guarantee of the $185 million principal amount currently outstanding of Comcast Holdings’ ZONES due October 2029. Neither CCCL Parent nor NBCUniversal Media Parent guarantee the Comcast Holdings’ ZONES due October 2029. None of Comcast Parent, CCCL Parent nor NBCUniversal Media Parent guarantee the $62 million principal amount currently outstanding of Comcast Holdings’ ZONES due November 2029 or the Universal Beijing Resort term loans.

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Comcast Corporation

Condensed Consolidating Statement of Income

For theThree Months Ended September 30, 2018

(in millions)	Comcast Parent			Comcast Holdings			CCCL Parent			NBCUniversal Media Parent			Non- Guarantor Subsidiaries			Elimination and Consolidation Adjustments			Consolidated Comcast Corporation
Revenue:
Service revenue	$	—		$	—		$	—		$	—		$	22,135		$	—		$	22,135
Management fee revenue	299			—			294			—			—			(593		)	—
Total revenue	299			—			294			—			22,135			(593		)	22,135
Costs and Expenses:
Programming and production	—			—			—			—			6,711			—			6,711
Other operating and administrative	208			—			294			230			6,305			(593		)	6,444
Advertising, marketing and promotion	—			—			—			—			1,667			—			1,667
Depreciation	12			—			—			—			2,026			—			2,038
Amortization	1			—			—			—			579			—			580
Other operating gains	—			—			—			—			(141		)	—			(141		)
Total cost and expenses	221			—			294			230			17,147			(593		)	17,299
Operating income (loss)	78			—			—			(230		)	4,988			—			4,836
Interest expense	(600		)	(3		)	(48		)	(113		)	(66		)	—			(830		)
Investment and other income (loss), net	3,299			3,380			3,007			1,576			1,065			(12,438		)	(111		)
Income (loss) before income taxes	2,777			3,377			2,959			1,233			5,987			(12,438		)	3,895
Income tax (expense) benefit	109			(1		)	10			(2		)	(1,115		)	—			(999		)
Net income (loss)	2,886			3,376			2,969			1,231			4,872			(12,438		)	2,896
Less: Net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock	—			—			—			—			10			—			10
Net income (loss) attributable to Comcast Corporation	$	2,886		$	3,376		$	2,969		$	1,231		$	4,862		$	(12,438	)	$	2,886
Comprehensive income (loss) attributable to Comcast Corporation	$	2,799		$	3,349		$	2,974		$	1,112		$	4,663		$	(12,098	)	$	2,799

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Comcast Corporation

Condensed Consolidating Statement of Income

For the Three Months Ended September 30, 2017

(in millions)	Comcast Parent			Comcast Holdings			CCCL Parent			NBCUniversal Media Parent			Non- Guarantor Subsidiaries			Elimination and Consolidation Adjustments			Consolidated Comcast Corporation
Revenue:
Service revenue	$	—		$	—		$	—		$	—		$	21,081		$	—		$	21,081
Management fee revenue	285			—			280			—			—			(565		)	—
Total revenue	285			—			280			—			21,081			(565		)	21,081
Costs and Expenses:
Programming and production	—			—			—			—			6,059			—			6,059
Other operating and administrative	183			—			280			277			6,360			(565		)	6,535
Advertising, marketing and promotion	—			—			—			—			1,604			—			1,604
Depreciation	7			—			—			—			1,984			—			1,991
Amortization	1			—			—			—			554			—			555
Other operating gains	—			—			—			—			(442		)	—			(442		)
Total cost and expenses	191			—			280			277			16,119			(565		)	16,302
Operating income (loss)	94			—			—			(277		)	4,962			—			4,779
Interest expense	(544		)	(3		)	(48		)	(116		)	(55		)	—			(766		)
Investment and other income (loss), net	2,934			2,513			1,995			2,206			1,845			(11,423		)	70
Income (loss) before income taxes	2,484			2,510			1,947			1,813			6,752			(11,423		)	4,083
Income tax (expense) benefit	158			(10		)	17			(6		)	(1,568		)	—			(1,409		)
Net income (loss)	2,642			2,500			1,964			1,807			5,184			(11,423		)	2,674
Less: Net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock	—			—			—			—			32			—			32
Net income (loss) attributable to Comcast Corporation	$	2,642		$	2,500		$	1,964		$	1,807		$	5,152		$	(11,423	)	$	2,642
Comprehensive income (loss) attributable to Comcast Corporation	$	2,595		$	2,484		$	1,968		$	1,722		$	5,024		$	(11,198	)	$	2,595

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Comcast Corporation

Condensed Consolidating Statement of Income

For the Nine Months Ended September 30, 2018

(in millions)	Comcast Parent			Comcast Holdings			CCCL Parent			NBCUniversal Media Parent			Non- Guarantor Subsidiaries			Elimination and Consolidation Adjustments			Consolidated Comcast Corporation
Revenue:
Service revenue	$	—		$	—		$	—		$	—		$	66,661		$	—		$	66,661
Management fee revenue	889			—			873			—			—			(1,762		)	—
Total revenue	889			—			873			—			66,661			(1,762		)	66,661
Costs and Expenses:
Programming and production	—			—			—			—			20,440			—			20,440
Other operating and administrative	626			—			873			772			18,814			(1,762		)	19,323
Advertising, marketing and promotion	—			—			—			—			4,924			—			4,924
Depreciation	34			—			—			—			6,036			—			6,070
Amortization	4			—			—			—			1,746			—			1,750
Other operating gains	—			—			—			—			(341		)	—			(341		)
Total cost and expenses	664			—			873			772			51,619			(1,762		)	52,166
Operating income (loss)	225			—			—			(772		)	15,042			—			14,495
Interest expense	(1,739		)	(9		)	(143		)	(332		)	(190		)	—			(2,413		)
Investment and other income (loss), net	10,416			10,279			8,832			5,107			3,977			(38,519		)	92
Income (loss) before income taxes	8,902			10,270			8,689			4,003			18,829			(38,519		)	12,174
Income tax (expense) benefit	318			—			29			(12		)	(3,229		)	—			(2,894		)
Net income (loss)	9,220			10,270			8,718			3,991			15,600			(38,519		)	9,280
Less: Net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock	—			—			—			—			60			—			60
Net income (loss) attributable to Comcast Corporation	$	9,220		$	10,270		$	8,718		$	3,991		$	15,540		$	(38,519	)	$	9,220
Comprehensive income (loss) attributable to Comcast Corporation	$	9,139		$	10,245		$	8,723		$	3,877		$	15,357		$	(38,202	)	$	9,139

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Comcast Corporation

Condensed Consolidating Statement of Income

For the Nine Months Ended September 30, 2017

(in millions)	Comcast Parent			Comcast Holdings			CCCL Parent			NBCUniversal Media Parent			Non- Guarantor Subsidiaries			Elimination and Consolidation Adjustments			Consolidated Comcast Corporation
Revenue:
Service revenue	$	—		$	—		$	—		$	—		$	62,954		$	—		$	62,954
Management fee revenue	841			—			827			—			—			(1,668		)	—
Total revenue	841			—			827			—			62,954			(1,668		)	62,954
Costs and Expenses:
Programming and production	—			—			—			—			18,450			—			18,450
Other operating and administrative	553			—			827			844			18,086			(1,668		)	18,642
Advertising, marketing and promotion	—			—			—			—			4,894			—			4,894
Depreciation	21			—			—			—			5,855			—			5,876
Amortization	4			—			—			—			1,641			—			1,645
Other operating gains	—			—			—			—			(442		)	—			(442		)
Total costs and expenses	578			—			827			844			48,484			(1,668		)	49,065
Operating income (loss)	263			—			—			(844		)	14,470			—			13,889
Interest expense	(1,592		)	(9		)	(159		)	(344		)	(175		)	—			(2,279		)
Investment and other income (loss), net	8,600			7,841			6,628			5,493			4,476			(32,739		)	299
Income (loss) before income taxes	7,271			7,832			6,469			4,305			18,771			(32,739		)	11,909
Income tax (expense) benefit	465			(26		)	56			(17		)	(4,516		)	—			(4,038		)
Net income (loss)	7,736			7,806			6,525			4,288			14,255			(32,739		)	7,871
Less: Net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock	—			—			—			—			135			—			135
Net income (loss) attributable to Comcast Corporation	$	7,736		$	7,806		$	6,525		$	4,288		$	14,120		$	(32,739	)	$	7,736
Comprehensive income (loss) attributable to Comcast Corporation	$	7,825		$	7,804		$	6,531		$	4,253		$	13,993		$	(32,581	)	$	7,825

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Comcast Corporation

Condensed Consolidating Statement of Cash Flows

For the Nine Months Ended September 30, 2018

(in millions)	Comcast Parent			Comcast Holdings			CCCL Parent			NBCUniversal Media Parent			Non- Guarantor Subsidiaries			Elimination and Consolidation Adjustments		Consolidated Comcast Corporation
Net cash provided by (used in) operating activities	$	(1,461	)	$	137		$	(206	)	$	(1,047	)	$	21,084		$	—	$	18,507
Investing Activities:
Net transactions with affiliates	(1,087		)	(586		)	206			800			667			—		—
Capital expenditures	(15		)	—			—			—			(6,592		)	—		(6,607		)
Cash paid for intangible assets	(3		)	—			—			—			(1,372		)	—		(1,375		)
Acquisitions and construction of real estate properties	(94		)	—			—			—			(35		)	—		(129		)
Construction of Universal Beijing Resort	—			—			—			—			(257		)	—		(257		)
Acquisitions, net of cash acquired	—			—			—			—			(88		)	—		(88		)
Proceeds from sales of investments	—			—			—			67			60			—		127
Purchases of investments	(118		)	—			—			(50		)	(672		)	—		(840		)
Other	—			449			—			—			130			—		579
Net cash provided by (used in) investing activities	(1,317		)	(137		)	206			817			(8,159		)	—		(8,590		)
Financing Activities:
Proceeds from (repayments of) short-term borrowings, net	2,117			—			—			—			792			—		2,909
Proceeds from borrowings	9,386			—			—			—			464			—		9,850
Repurchases and repayments of debt	(1,900		)	—			—			(3		)	(2,502		)	—		(4,405		)
Repurchases of common stock under repurchase program and employee plans	(4,282		)	—			—			—			—			—		(4,282		)
Dividends paid	(2,487		)	—			—			—			—			—		(2,487		)
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock	—			—			—			—			(209		)	—		(209		)
Other	(56		)	—			—			—			(186		)	—		(242		)
Net cash provided by (used in) financing activities	2,778			—			—			(3		)	(1,641		)	—		1,134
Increase (decrease) in cash, cash equivalents and restricted cash	—			—			—			(233		)	11,284			—		11,051
Cash, cash equivalents and restricted cash, beginning of period	—			—			—			496			3,075			—		3,571
Cash, cash equivalents and restricted cash, end of period	$	—		$	—		$	—		$	263		$	14,359		$	—	$	14,622

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Comcast Corporation

Condensed Consolidating Statement of Cash Flows

For the Nine Months Ended September 30, 2017

(in millions)	Comcast Parent			Comcast Holdings			CCCL Parent			NBCUniversal Media Parent			Non- Guarantor Subsidiaries			Elimination and Consolidation Adjustments		Consolidated Comcast Corporation
Net cash provided by (used in) operating activities	$	(931	)	$	91		$	(233	)	$	(1,055	)	$	17,985		$	—	$	15,857
Investing Activities:
Net transactions with affiliates	4,216			(91		)	818			833			(5,776		)	—		—
Capital expenditures	(6		)	—			—			—			(6,833		)	—		(6,839		)
Cash paid for intangible assets	(2		)	—			—			—			(1,134		)	—		(1,136		)
Acquisitions and construction of real estate properties	(190		)	—			—			—			(135		)	—		(325		)
Construction of Universal Beijing Resort	—			—			—			—			(47		)	—		(47		)
Acquisitions, net of cash acquired	—			—			—			—			(429		)	—		(429		)
Proceeds from sales of investments	—			—			—			10			110			—		120
Purchases of investments	(56		)	—			(35		)	(57		)	(1,916		)	—		(2,064		)
Other	101			—			—			49			647			—		797
Net cash provided by (used in) investing activities	4,063			(91		)	783			835			(15,513		)	—		(9,923		)
Financing Activities:
Proceeds from (repayments of) short-term borrowings, net	(1,739		)	—			—			—			(1,068		)	—		(2,807		)
Proceeds from borrowings	5,997			—			—			—			5,463			—		11,460
Repurchases and repayments of debt	(1,000		)	—			(550		)	(3		)	(3,468		)	—		(5,021		)
Repurchases of common stock under repurchase program and employee plans	(4,212		)	—			—			—			—			—		(4,212		)
Dividends paid	(2,147		)	—			—			—			—			—		(2,147		)
Purchase of Universal Studios Japan noncontrolling interests	—			—			—			—			(2,299		)	—		(2,299		)
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock	—			—			—			—			(198		)	—		(198		)
Other	(31		)	—			—			—			134			—		103
Net cash provided by (used in) financing activities	(3,132		)	—			(550		)	(3		)	(1,436		)	—		(5,121		)
Increase (decrease) in cash, cash equivalents and restricted cash	—			—			—			(223		)	1,036			—		813
Cash, cash equivalents and restricted cash, beginning of period	—			—			—			482			2,933			—		3,415
Cash, cash equivalents and restricted cash, end of period	$	—		$	—		$	—		$	259		$	3,969		$	—	$	4,228

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Comcast Corporation

Condensed Consolidating Balance Sheet

September 30, 2018

(in millions)	Comcast Parent		Comcast Holdings		CCCL Parent		NBCUniversal Media Parent		Non- Guarantor Subsidiaries		Elimination and Consolidation Adjustments			Consolidated Comcast Corporation
Assets
Cash and cash equivalents	$	—	$	—	$	—	$	263	$	10,353	$	—		$	10,616
Receivables, net	—		—		—		—		8,983		—			8,983
Programming rights	—		—		—		—		1,223		—			1,223
Other current assets	58		8		—		34		2,284		—			2,384
Total current assets	58		8		—		297		22,843		—			23,206
Film and television costs	—		—		—		—		7,377		—			7,377
Investments	267		11		122		790		6,534		—			7,724
Investments in and amounts due from subsidiaries eliminated upon consolidation	129,360		146,297		132,562		53,078		103,526		(564,823		)	—
Property and equipment, net	649		—		—		—		39,206		—			39,855
Franchise rights	—		—		—		—		59,365		—			59,365
Goodwill	—		—		—		—		36,703		—			36,703
Other intangible assets, net	11		—		—		—		18,638		—			18,649
Other noncurrent assets, net	782		230		—		95		6,884		(235		)	7,756
Total assets	$	131,127	$	146,546	$	132,684	$	54,260	$	301,076	$	(565,058	)	$	200,635
Liabilities and Equity
Accounts payable and accrued expenses related to trade creditors	$	13	$	—	$	—	$	—	$	7,023	$	—		$	7,036
Accrued participations and residuals	—		—		—		—		1,809		—			1,809
Deferred revenue	—		—		—		—		1,633		—			1,633
Accrued expenses and other current liabilities	1,852		150		231		346		3,397		—			5,976
Current portion of long-term debt	699		—		—		4		2,470		—			3,173
Total current liabilities	2,564		150		231		350		16,332		—			19,627
Long-term debt, less current portion	54,120		144		2,100		7,748		5,599		—			69,711
Deferred income taxes	—		330		—		68		25,070		(301		)	25,167
Other noncurrent liabilities	2,920		—		—		1,225		8,257		66			12,468
Redeemable noncontrolling interests and redeemable subsidiary preferred stock	—		—		—		—		1,317		—			1,317
Equity:
Common stock	54		—		—		—		—		—			54
Other shareholders’ equity	71,469		145,922		130,353		44,869		243,679		(564,823		)	71,469
Total Comcast Corporation shareholders’ equity	71,523		145,922		130,353		44,869		243,679		(564,823		)	71,523
Noncontrolling interests	—		—		—		—		822		—			822
Total equity	71,523		145,922		130,353		44,869		244,501		(564,823		)	72,345
Total liabilities and equity	$	131,127	$	146,546	$	132,684	$	54,260	$	301,076	$	(565,058	)	$	200,635

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Comcast Corporation

Condensed Consolidating Balance Sheet

December 31, 2017

(in millions)	Comcast Parent		Comcast Holdings		CCCL Parent		NBCUniversal Media Parent		Non- Guarantor Subsidiaries		Elimination and Consolidation Adjustments			Consolidated Comcast Corporation
Assets
Cash and cash equivalents	$	—	$	—	$	—	$	496	$	2,932	$	—		$	3,428
Receivables, net	—		—		—		—		8,834		—			8,834
Programming rights	—		—		—		—		1,613		—			1,613
Other current assets	60		—		7		25		2,376		—			2,468
Total current assets	60		—		7		521		15,755		—			16,343
Film and television costs	—		—		—		—		7,087		—			7,087
Investments	146		21		108		693		5,963		—			6,931
Investments in and amounts due from subsidiaries eliminated upon consolidation	117,164		142,519		139,528		50,102		113,332		(562,645		)	—
Property and equipment, net	551		—		—		—		37,919		—			38,470
Franchise rights	—		—		—		—		59,364		—			59,364
Goodwill	—		—		—		—		36,780		—			36,780
Other intangible assets, net	12		—		—		—		18,121		—			18,133
Other noncurrent assets, net	435		708		—		88		3,437		(314		)	4,354
Total assets	$	118,368	$	143,248	$	139,643	$	51,404	$	297,758	$	(562,959	)	$	187,462
Liabilities and Equity
Accounts payable and accrued expenses related to trade creditors	$	16	$	—	$	—	$	—	$	6,892	$	—		$	6,908
Accrued participations and residuals	—		—		—		—		1,644		—			1,644
Deferred revenue	—		—		—		—		1,687		—			1,687
Accrued expenses and other current liabilities	1,888		92		333		326		3,981		—			6,620
Current portion of long-term debt	2,810		—		—		4		2,320		—			5,134
Total current liabilities	4,714		92		333		330		16,524		—			21,993
Long-term debt, less current portion	42,428		140		2,100		7,751		7,003		—			59,422
Deferred income taxes	—		285		—		67		24,250		(343		)	24,259
Other noncurrent liabilities	2,610		—		—		1,128		7,205		29			10,972
Redeemable noncontrolling interests and redeemable subsidiary preferred stock	—		—		—		—		1,357		—			1,357
Equity:
Common stock	55		—		—		—		—		—			55
Other shareholders’ equity	68,561		142,731		137,210		42,128		240,576		(562,645		)	68,561
Total Comcast Corporation shareholders’ equity	68,616		142,731		137,210		42,128		240,576		(562,645		)	68,616
Noncontrolling interests	—		—		—		—		843		—			843
Total equity	68,616		142,731		137,210		42,128		241,419		(562,645		)	69,459
Total liabilities and equity	$	118,368	$	143,248	$	139,643	$	51,404	$	297,758	$	(562,959	)	$	187,462

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ITEM 2: MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Overview

We are a global media and technology company with two primary businesses, Comcast Cable and NBCUniversal. We present our operations for Comcast Cable in one reportable business segment, referred to as Cable Communications, and our operations for NBCUniversal in four reportable business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks (collectively, the “NBCUniversal segments”).

We adopted the updated guidance related to revenue recognition on January 1, 2018 on a full retrospective basis, which required us to reflect the impact of the updated guidance for all periods presented (see Note 7 to Comcast’s condensed consolidated financial statements and Note 6 to NBCUniversal’s condensed consolidated financial statements).

On October 9, 2018, in connection with our offer to acquire the share capital of Sky, we acquired a controlling interest in Sky through a series of purchases of Sky shares and acceptances of the offer at our offer price of £17.28 per Sky share.The consideration under our offer implies a value of approximately£30.2 billion (approximately $39.4 billionusing the exchange rate on October 9, 2018) for the fully diluted share capital of Sky. Sky’s results will be included in our consolidated financial statements beginning in the fourth quarter of 2018. 

Cable Communications Segment

Comcast Cable is one of the nation’s largest providers of video, high-speed Internet, voice, and security and automation services (“cable services”) to residential customers under the XFINITY brand; we also provide these and other services to business customers and sell advertising. As of September 30, 2018, our cable systems had 30.1 million total customer relationships, including 27.8 million residential and 2.3 million business customer relationships, and passed more than 57 million homes and businesses. Our Cable Communications segment generates revenue primarily from residential and business customers that subscribe to our cable services, which we market individually and as bundled services, and from the sale of advertising.

NBCUniversal Segments

NBCUniversal is one of the world’s leading media and entertainment companies that develops, produces and distributes entertainment, news and information, sports, and other content for global audiences, and owns and operates theme parks worldwide.

Cable Networks

Our Cable Networks segment consists primarily of a diversified portfolio of cable television networks. Our cable networks are 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 Cable Networks segment generates revenue primarily from the distribution of our cable network programming to traditional and virtual multichannel video providers; from the sale of advertising on our cable networks and digital properties; from the licensing of our owned programming, including programming from our cable television studio production operations, to cable and broadcast networks and subscription video on demand services; and from the sale of our owned programming on standard-definition digital video discs and Blu-ray discs (together, “DVDs”) and through digital distribution services such as iTunes.

Broadcast Television

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 Broadcast Television segment generates revenue primarily from the sale of advertising on our broadcast networks, owned local broadcast television stations and digital properties; from the licensing of our owned programming by our broadcast television studio production operations to various distribution platforms, including to cable and broadcast networks as well as to subscription video on demand services; from the fees received under retransmission consent agreements and associated fees received from NBC-affiliated local broadcast television stations; and from the sale of our owned programming on DVDs and through digital distribution services.

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Filmed Entertainment

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 Filmed Entertainment segment generates revenue primarily from the worldwide distribution of our produced and acquired films for exhibition in movie theaters, from the licensing of produced and acquired films through various distribution platforms, and from the sale of produced and acquired films on DVDs and through digital distribution services. Our Filmed Entertainment segment also generates revenue from Fandango, our movie ticketing and entertainment business, the sale of consumer products, the production and licensing of live stage plays, and the distribution of filmed entertainment produced by third parties.

Theme Parks

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 theme park in Beijing, China. Our Theme Parks segment generates revenue primarily from ticket sales and guest spending at our Universal theme parks.

Corporate and Other

We are pursuing business development initiatives, such as our wireless phone service that we launched in the second quarter of 2017 using our virtual network operator rights to provide the service over Verizon’s wireless network and our existing network of in-home and outdoor Wi-Fi hotspots. We offer the wireless phone service only as part of our bundled service offerings to residential customers that subscribe to our high-speed Internet service within our cable distribution footprint and may in the future also offer wireless phone service to our small business customers on similar terms. The wireless phone service has success-based working capital requirements, primarily associated with the procurement of handsets, which customers are able to pay for upfront or finance interest-free over 24 months, and other equipment. 

Our other business interests consist of the operations of Comcast Spectacor, which owns the Philadelphia Flyers and the Wells Fargo Center arena in Philadelphia, Pennsylvania.

Competition

The results of operations of our reportable business segments are affected by competition, as all of our businesses operate in intensely competitive, consumer-driven and rapidly changing environments and compete with a growing number of companies that provide a broad range of communications products and services and entertainment, news and information content to consumers. Technological changes are further intensifying and complicating the competitive landscape and challenging existing business models. In particular, consumers are increasingly turning to online sources for viewing and purchasing content, which has and likely will continue to reduce the number of our video customers and subscribers to our cable networks even as it makes our high-speed Internet services more valuable to consumers. In addition, the increasing number of entertainment choices available has intensified audience fragmentation, which has and likely will continue to adversely affect the audience ratings of our cable networks and broadcast television programming.

For additional information on the competition our businesses face, see our 2017 Annual Report on Form 10-K and refer to Item 1: Business and Item 1A: Risk Factors. Within the Business section, refer to the “Competition” discussion, and within the Risk Factors section, refer to the risk factors entitled “Our businesses currently face a wide range of competition, and our businesses and results of operations could be adversely affected if we do not compete effectively” and “Changes in consumer behavior driven by online distribution platforms for viewing content could adversely affect our businesses and challenge existing business models.”

Seasonality and Cyclicality

Each of our businesses is subject to seasonal and cyclical variations. In our Cable Communications segment, our results are impacted by the seasonal nature of residential customers receiving our cable services in college and vacation markets. This generally results in fewer net customer relationship additions in the second quarter of each year.

Revenue in our Cable Communications, Cable Networks and Broadcast Television segments is subject to cyclical advertising patterns and changes in viewership levels. Advertising revenue in the U.S. is generally higher in the second and fourth quarters of each year, due in part to increases in consumer advertising in the spring and in the period leading up to and including the holiday season. Advertising revenue in the U.S. is also cyclical, with a benefit in even-numbered years due to advertising related to candidates running for political office and issue-oriented advertising. Revenue in our Cable Networks and Broadcast Television segments fluctuates depending on the timing of when our programming is aired, which typically results in higher advertising revenue in the second and fourth quarters of each year. Our revenue and operating costs and expenses (comprised of total costs and expenses, excluding depreciation and amortization expense and other operating gains) are cyclical as a result of our periodic broadcasts of major sporting events, such as the Olympic Games, which affect our Cable Networks and Broadcast Television segments, and the Super Bowl, which affects our Broadcast Television segment. In particular, our advertising revenue increases

32

due to increased demand for advertising time and our distribution revenue increases in the period of these broadcasts. Our operating costs and expenses also increase as a result of our production costs for these broadcasts and the amortization of the related rights fees.

Revenue in our Filmed Entertainment segment fluctuates due to the timing, nature and number of films released in movie theaters, on DVDs, and through various other distribution platforms. Release dates are determined by several factors, including competition and the timing of vacation and holiday periods. As a result, revenue tends to be seasonal, with increases experienced each year during the summer months and around the holiday season. Content licensing revenue in our Cable Networks, Broadcast Television and Filmed Entertainment segments also fluctuates due to the timing of when our content is made available to licensees.

Revenue in our Theme Parks segment fluctuates with changes in theme park attendance that result from the seasonal nature of vacation travel and weather variations, local entertainment offerings and the opening of new attractions, as well as with changes in currency exchange rates. Our theme parks generally experience peak attendance during the spring holiday period, the summer months when schools are closed and the holiday season.

Consolidated Operating Results

	Three Months Ended September 30						Increase/ (Decrease)		Nine Months Ended September 30						Increase/ (Decrease)
(in millions)	2018			2017					2018			2017
Revenue	$	22,135		$	21,081		5.0	%	$	66,661		$	62,954		5.9	%
Costs and Expenses:
Programming and production	6,711			6,059			10.8		20,440			18,450			10.8
Other operating and administrative	6,444			6,535			(1.4	)	19,323			18,642			3.7
Advertising, marketing and promotion	1,667			1,604			3.9		4,924			4,894			0.6
Depreciation	2,038			1,991			2.4		6,070			5,876			3.3
Amortization	580			555			4.9		1,750			1,645			6.5
Other operating gains	(141		)	(442		)	(67.9	)	(341		)	(442		)	(22.7	)
Operating income	4,836			4,779			1.2		14,495			13,889			4.4
Interest expense	(830		)	(766		)	8.4		(2,413		)	(2,279		)	5.9
Investment and other income (loss), net	(111		)	70			(256.2	)	92			299			(69.1	)
Income before income taxes	3,895			4,083			(4.6	)	12,174			11,909			2.2
Income tax expense	(999		)	(1,409		)	(29.1	)	(2,894		)	(4,038		)	(28.3	)
Net income	2,896			2,674			8.3		9,280			7,871			17.9
Less: Net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock	10			32			(70.9	)	60			135			(55.7	)
Net income attributable to Comcast Corporation	$	2,886		$	2,642		9.3	%	$	9,220		$	7,736		19.2	%
Adjusted EBITDA(a)	$	7,313		$	7,133		2.5	%	$	21,974		$	21,218		3.6	%

All percentages are calculated based on actual amounts. Minor differences may exist due to rounding.

(a) Adjusted EBITDA is a non-GAAP financial measure. Refer to the “Non-GAAP Financial Measure” section on page 44 for additional information, including our definition and our use of Adjusted EBITDA, and for a reconciliation from net income attributable to Comcast Corporation to Adjusted EBITDA.

Consolidated Revenue

Our Cable Communications, Cable Networks, Broadcast Television and Filmed Entertainment segments accounted for the increase in consolidated revenue for the three months ended September 30, 2018, which was partially offset by a decrease in revenue in our Theme Parks segment.

Our Cable Communications, Cable Networks, Broadcast Television and Theme Parks segments accounted for the increase in consolidated revenue for the nine months ended September 30, 2018, which were partially offset by a decrease in revenue in our Filmed Entertainment segment. Consolidated revenue for the nine months ended September 30, 2018 included revenue associated with our broadcasts of the 2018 PyeongChang Olympics and the 2018 Super Bowl in February 2018.

33

Revenue for our segments is discussed separately below under the heading “Segment Operating Results.” Revenue for our business development initiatives and other businesses is discussed separately below under the heading “Corporate and Other Results of Operations.”

Consolidated Costs and Expenses

Our Cable Networks, Broadcast Television and Filmed Entertainment segments accounted for the increase in consolidated operating costs and expenses for the three months ended September 30, 2018.

Our Cable Communications, Cable Networks, Broadcast Television and Theme Parks segments accounted for the increase in consolidated operating costs and expenses for the nine months ended September 30, 2018, which were partially offset by decreases in operating costs and expenses in our Filmed Entertainment segment.

Operating costs and expenses for our segments are discussed separately below under the heading “Segment Operating Results.” Operating costs and expenses for our corporate operations, businesses development initiatives and other businesses are discussed separately below under the heading “Corporate and Other Results of Operations.”

Consolidated Depreciation and Amortization Expense

	Three Months Ended September 30				Increase/ (Decrease)		Nine Months Ended September 30				Increase/ (Decrease)
(in millions)	2018		2017				2018		2017
Cable Communications	$	2,071	$	2,015	2.8	%	$	6,171	$	5,928	4.1	%
NBCUniversal	514		507		1.8		1,577		1,535		2.9
Corporate and Other	33		24		37.0		72		58		21.6
Total	$	2,618	$	2,546	2.9	%	$	7,820	$	7,521	4.0	%

Consolidated depreciation and amortization expense increased for the three and nine months ended September 30, 2018 primarily due to increases in both capital expenditures and expenditures for software in our Cable Communications segment in recent years. We continue to invest in our network capacity and in customer premise equipment, primarily for our X1 platform, cloud DVR technology and wireless gateways. Certain of these assets have relatively short estimated useful lives, which also contributed to the increase in depreciation expense for the three and nine months ended September 30, 2018 in our Cable Communications segment.

Consolidated Other Operating Gains

Consolidated other operating gains for the three and nine months ended September 30, 2018 included $141 million related to the sale of a business in our Filmed Entertainment segment. The nine months ended September 30, 2018 also included $200 million related to the sale of a controlling interest in our arena management-related businesses in Corporate and Other (see Note 9 to Comcast’s condensed consolidated financial statements). Consolidated other operating gains for both the three and nine months ended September 30, 2017 included $337 million related to NBCUniversal’s relinquishment of spectrum rights (see Note 6 to Comcast’s condensed consolidated financial statements and Note 5 to NBCUniversal’s condensed consolidated financial statements) and $105 million related to the sale of a business in Corporate and other (see Note 9 to Comcast’s condensed consolidated financial statements).

Segment Operating Results

Our segment operating results are presented based on how we assess operating performance and internally report financial information. We use Adjusted EBITDA as the measure of profit or loss for our operating segments. See Note 2 to both Comcast’s and NBCUniversal’s condensed consolidated financial statements for our definition of Adjusted EBITDA and a reconciliation from the aggregate amount of Adjusted EBITDA for our reportable business segments to consolidated income before income taxes.

To be consistent with our current management reporting presentation, certain 2017 operating results were reclassified within the Cable Communications segment.

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Cable Communications Segment Results of Operations

	Three Months Ended September 30				Increase/ (Decrease)
(in millions)	2018		2017		$			%
Revenue
Residential:
Video	$	5,591	$	5,760	$	(169	)	(2.9	)%
High-speed Internet	4,321		3,942		379			9.6
Voice	982		1,013		(31		)	(3.1	)
Business services	1,803		1,629		174			10.6
Advertising	684		594		90			15.2
Other	406		401		5			1.1
Total revenue	13,787		13,339		448			3.4
Operating costs and expenses
Programming	3,309		3,264		45			1.4
Technical and product support	1,624		1,602		22			1.3
Customer service	595		626		(31		)	(4.9	)
Advertising, marketing and promotion	935		952		(17		)	(1.8	)
Franchise and other regulatory fees	389		398		(9		)	(2.4	)
Other	1,320		1,281		39			3.1
Total operating costs and expenses	8,172		8,123		49			0.6
Adjusted EBITDA	$	5,615	$	5,216	$	399		7.6	%

	Nine Months Ended September 30				Increase/ (Decrease)
(in millions)	2018		2017		$			%
Revenue
Residential:
Video	$	16,878	$	17,206	$	(328	)	(1.9	)%
High-speed Internet	12,740		11,682		1,058			9.1
Voice	2,982		3,081		(99		)	(3.2	)
Business services	5,290		4,757		533			11.2
Advertising	1,932		1,774		158			8.9
Other	1,193		1,146		47			4.1
Total revenue	41,015		39,646		1,369			3.5
Operating costs and expenses
Programming	9,947		9,698		249			2.6
Technical and product support	4,823		4,681		142			3.0
Customer service	1,802		1,850		(48		)	(2.6	)
Advertising, marketing and promotion	2,802		2,779		23			0.9
Franchise and other regulatory fees	1,178		1,196		(18		)	(1.5	)
Other	3,795		3,759		36			0.9
Total operating costs and expenses	24,347		23,963		384			1.6
Adjusted EBITDA	$	16,668	$	15,683	$	985		6.3	%

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Customer Metrics

	Total Customers		Net Additional Customers
	September 30		Three Months Ended September 30				Nine Months Ended September 30
(in thousands, except per customer amounts)	2018	2017	2018		2017		2018		2017
Customer relationships
Residential customer relationships	27,817	26,957	258		83		649		424
Business services customer relationships	2,274	2,146	30		31		94		102
Total customer relationships	30,091	29,104	288		115		744		527
Residential customer relationships mix
Single product customers	8,912	8,055	284		125		716		299
Double product customers	9,045	8,983	(9	)	38		(12	)	186
Triple and quad product customers	9,860	9,919	(17	)	(79	)	(55	)	(61	)
Video
Residential customers	20,978	21,341	(95	)	(134	)	(325	)	(147	)
Business services customers	1,037	1,049	(11	)	9		(17	)	30
Total video customers	22,015	22,390	(106	)	(125	)	(342	)	(118	)
High-speed Internet
Residential customers	24,774	23,546	334		182		910		718
Business services customers	2,098	1,974	29		32		92		100
Total high-speed Internet customers	26,871	25,519	363		214		1,002		818
Voice
Residential customers	10,164	10,351	(49	)	(119	)	(151	)	(195	)
Business services customers	1,283	1,214	13		25		46		74
Total voice customers	11,447	11,565	(35	)	(94	)	(105	)	(122	)
Security and automation
Security and automation customers	1,277	1,079	42		51		147		188

Customer metrics are presented based on actual amounts. Minor differences may exist due to rounding. Customer relationships represent the number of residential and business customers that subscribe to at least one of our cable services. Single product, double product, and triple and quad product customers represent residential customers that subscribe to one, two, or three and four of our cable services, respectively. For multiple dwelling units (“MDUs”), including buildings located on college campuses, whose residents have the ability to receive additional cable services, such as additional programming choices or our high-definition video (“HD”) or digital video recorder (“DVR”) advanced services, we count and report customers based on the number of potential billable relationships within each MDU. For MDUs whose residents are not able to receive additional cable services, the MDU is counted as a single customer. Residential video and high-speed Internet customers as of September 30, 2018 included prepaid customers totaling approximately 5,000 and 119,000, respectively.

Average monthly total revenue per customer relationship for the three and nine months ended September 30, 2018 was $153.46 and $153.34, respectively. Average monthly total revenue per customer relationship for the three and nine months ended September 30, 2017 was $153.08 and $152.74, respectively. This metric is impacted by rate adjustments and changes in the types and levels of services received by our residential and business services customers, as well as changes in advertising revenue. While revenue from our residential video, high-speed Internet and voice services are also impacted by changes in the allocation of revenue among services sold in a bundle, the allocation does not impact average monthly total revenue per customer relationship.

Average monthly Adjusted EBITDA per customer relationship for the three and nine months ended September 30, 2018 was $62.49 and $62.32, respectively. Average monthly Adjusted EBITDA per customer relationship for the three and nine months ended September 30, 2017 was $59.86 and $60.42, respectively. Each of our cable services has a different contribution to operating margin. We use average monthly Adjusted EBITDA per customer relationship to evaluate the profitability of our customer base across all of our service offerings. We believe this metric is useful particularly as we continue to focus on growing our higher-margin businesses, including residential high-speed Internet and business services.

Cable Communications Segment—Revenue

Video

Video revenue decreased 2.9% and 1.9% for the three and nine months ended September 30, 2018, respectively, compared to the same periods in 2017. The decreases were primarily due to declines in the number of residential video customers, revenue associated with a boxing event available on pay-per-view in the prior year periods and, to a lesser extent, changes in average video rates. We have experienced, and expect that we will continue to experience, declines in the number of residential video customers due to competitive pressures, and we expect that our video revenue will continue to decline. Competition is intense, both from traditional multichannel video providers and from new technologies and distribution platforms for viewing content. We are responding to

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this competition through our X1 platform and sales and marketing programs, such as promotions, bundled service offerings and service offerings targeted at specific market segments.

High-Speed Internet

High-speed Internet revenue increased 9.6% and 9.1% for the three and nine months ended September 30, 2018, respectively, compared to the same periods in 2017. Increases in the number of residential customers receiving our high-speed Internet services accounted for increases in revenue of 4.9% for both the three and nine months ended September 30, 2018. The remaining increases in revenue for the three and nine months ended September 30, 2018 were primarily due to changes in average high-speed Internet rates. Our customer base continues to grow as consumers choose our high-speed Internet services and seek offerings with better speed, coverage and control.

Voice

Voice revenue decreased 3.1% and 3.2% for the three and nine months ended September 30, 2018, respectively, compared to the same periods in 2017 primarily due to decreases in the number of residential voice customers. We expect that the number of residential voice customers and voice revenue will continue to decline.

Business Services

Business services revenue increased 10.6% and 11.2% for the three and nine months ended September 30, 2018, respectively, compared to the same periods in 2017. The increases were primarily due to increases in the number of customers receiving our small and medium-sized business services offerings and rate adjustments. We believe the increases in the number of business customers are primarily the result of our efforts to gain market share from competitors by offering competitive services and pricing, although the rate of growth in the number of our small business customers may slow as the business matures.

Advertising

Advertising revenue increased 15.2% and 8.9% for the three and nine months ended September 30, 2018, respectively, compared to the same periods in 2017 primarily due to increases in political advertising revenue. Excluding political advertising revenue, advertising revenue was flat for the three months ended September 30, 2018 and increased 1.1% for the nine months ended September 30, 2018, compared to the same periods in 2017. The increase for the nine months ended September 30, 2018 was primarily due to increases in revenue from our advanced advertising business.

For both the three and nine months ended September 30, 2018, 4% of our Cable Communications segment advertising revenue was generated from our NBCUniversal segments. For both the three and nine months ended September 30, 2017, 5% of our Cable Communications segment advertising revenue was generated from our NBCUniversal segments. These amounts are eliminated in our condensed consolidated financial statements but are included in the amounts presented above.

Other

Other revenue increased 1.1% and 4.1% for the three and nine months ended September 30, 2018, respectively, compared to the same periods in 2017. The increase for the nine months ended September 30, 2018 was primarily due to the increase in revenue from our security and automation services.

Cable Communications Segment—Operating Costs and Expenses

Programming expenses increased for the three and nine months ended September 30, 2018 compared to the same periods in 2017 primarily due to increases in programming license fees, including retransmission consent fees and sports programming costs, which was partially offset by fees associated with a boxing event available on pay-per-view in the prior year periods.

Technical and product support expenses increased for the three and nine months ended September 30, 2018 compared to the same periods in 2017 primarily due to expenses related to the continued development, deployment and support of our X1 platform, cloud DVR technology and wireless gateways, and continued growth in business services and security and automation services.

Customer service expenses decreased for the three and nine months ended September 30, 2018 compared to the same periods in 2017 primarily due to lower personnel costs as a result of reduced call volumes.

Advertising, marketing and promotion expenses decreased for the three months ended September 30, 2018 compared to the same period in 2017 primarily due to a reduction in marketing spending. Advertising, marketing and promotion expenses remained flat for the nine months ended September 30, 2018 compared to the same period in 2017.

Franchise and other regulatory fees decreased for the three and nine months ended September 30, 2018 compared to the same periods in 2017 primarily due to decreases in the revenue to which the fees apply.

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Other costs and expenses increased for the three months ended September 30, 2018 compared to the same period in 2017 primarily due to increases in costs to support our advertising sales business. Other costs and expenses remained flat for the nine months ended September 30, 2018 compared to the same period in 2017.

Cable Communications Segment—Operating Margin

Our Cable Communications segment operating margin is Adjusted EBITDA as a percentage of revenue. The most significant operating costs and expenses for our Cable Communications segment are the programming expenses we incur to provide content to our video customers, which increased 1.4% and 2.6% for the three and nine months ended September 30, 2018, respectively.

Our Cable Communications segment operating margin for the three months ended September 30, 2018 and 2017 was 40.7% and 39.1%, respectively. Our Cable Communications segment operating margin for the nine months ended September 30, 2018 and 2017 was 40.6% and 39.6%, respectively. Adjusted EBITDA was negatively impacted by two hurricanes that affected our service areas in the third quarter of 2017. We will continue to focus on growing our higher-margin businesses, particularly residential high-speed Internet and business services, and on overall operating cost management.

NBCUniversal Segments Results of Operations

	Three Months Ended September 30						Increase/ (Decrease)
(in millions)	2018			2017			$			%
Revenue
Cable Networks	$	2,884		$	2,603		$	281		10.8	%
Broadcast Television	2,452			2,125			327			15.4
Filmed Entertainment	1,819			1,753			66			3.8
Theme Parks	1,528			1,550			(22		)	(1.4	)
Headquarters, other and eliminations	(58		)	(55		)	(3		)	NM
Total revenue	$	8,625		$	7,976		$	649		8.1	%
Adjusted EBITDA
Cable Networks	$	968		$	906		$	62		6.9	%
Broadcast Television	321			316			5			1.8
Filmed Entertainment	214			383			(169		)	(44.2	)
Theme Parks	725			775			(50		)	(6.5	)
Headquarters, other and eliminations	(162		)	(123		)	(39		)	NM
Total Adjusted EBITDA	$	2,066		$	2,257		$	(191	)	(8.5	)%

	Nine Months Ended September 30						Increase/ (Decrease)
(in millions)	2018			2017			$			%
Revenue
Cable Networks	$	8,994		$	7,939		$	1,055		13.3	%
Broadcast Television	8,340			6,574			1,766			26.9
Filmed Entertainment	5,176			5,862			(686		)	(11.7	)
Theme Parks	4,170			3,982			188			4.7
Headquarters, other and eliminations	(212		)	(210		)	(2		)	NM
Total revenue	$	26,468		$	24,147		$	2,321		9.6	%
Adjusted EBITDA
Cable Networks	$	3,422		$	3,076		$	346		11.3	%
Broadcast Television	1,245			1,054			191			18.2
Filmed Entertainment	555			1,041			(486		)	(46.7	)
Theme Parks	1,789			1,723			66			3.8
Headquarters, other and eliminations	(500		)	(544		)	44			NM
Total Adjusted EBITDA	$	6,511		$	6,350		$	161		2.5	%

Percentage changes that are considered not meaningful are denoted with NM.

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Cable Networks Segment Results of Operations

	Three Months Ended September 30				Increase/ (Decrease)
(in millions)	2018		2017		$			%
Revenue
Distribution	$	1,680	$	1,533	$	147		9.5	%
Advertising	820		787		33			4.2
Content licensing and other	384		283		101			36.1
Total revenue	2,884		2,603		281			10.8
Operating costs and expenses
Programming and production	1,410		1,219		191			15.7
Other operating and administrative	372		343		29			8.3
Advertising, marketing and promotion	134		135		(1		)	(1.2	)
Total operating costs and expenses	1,916		1,697		219			12.9
Adjusted EBITDA	$	968	$	906	$	62		6.9	%

	Nine Months Ended September 30				Increase/ (Decrease)
(in millions)	2018		2017		$			%
Revenue
Distribution	$	5,251	$	4,645	$	606		13.0	%
Advertising	2,746		2,519		227			9.0
Content licensing and other	997		775		222			28.7
Total revenue	8,994		7,939		1,055			13.3
Operating costs and expenses
Programming and production	4,082		3,499		583			16.7
Other operating and administrative	1,116		989		127			12.8
Advertising, marketing and promotion	374		375		(1		)	(0.4	)
Total operating costs and expenses	5,572		4,863		709			14.6
Adjusted EBITDA	$	3,422	$	3,076	$	346		11.3	%

Cable Networks Segment—Revenue

Cable Networks revenue increased for the three months ended September 30, 2018 compared to the same period in 2017 due to increases in distribution revenue, content licensing and other revenue, and advertising revenue. The increase in distribution revenue was primarily due to increases in the contractual rates charged under distribution agreements and the timing of contract renewals, which were partially offset by a decline in the number of subscribers at our cable networks. The increase in content licensing and other revenue was primarily due to the timing of content provided under our licensing agreements. The increase in advertising revenue was primarily due to higher prices for advertising units sold, which was partially offset by the impact of continued declines in audience ratings at our networks.

Cable Networks revenue increased for the nine months ended September 30, 2018 compared to the same period in 2017 due to increases in distribution revenue, advertising revenue, and content licensing and other revenue. The increase in distribution revenue was primarily due to $236 million of revenue associated with our broadcast of the 2018 PyeongChang Olympics. The increase in distribution revenue was also due to increases in the contractual rates charged under distribution agreements and the timing of contract renewals, which were partially offset by a decline in the number of subscribers at our cable networks. The increase in advertising revenue was primarily due to $142 million of revenue associated with our broadcast of the 2018 PyeongChang Olympics. The increase in advertising revenue was also due to higher prices for advertising units sold, which was partially offset by the impact of continued declines in audience ratings at our networks. The increase in content licensing and other revenue was primarily due to the timing of content provided under our licensing agreements. Excluding $378 million of revenue associated with our broadcast of the 2018 PyeongChang Olympics, Cable Networks segment revenue increased 8.5% for the nine months ended September 30, 2018.

For both the three and nine months ended September 30, 2018 and 2017, 15% of our Cable Networks segment revenue was generated from our Cable Communications segment. These amounts are eliminated in our condensed consolidated financial statements but are included in the amounts presented above.

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Cable Networks Segment—Operating Costs and Expenses

Operating costs and expenses increased for the three months ended September 30, 2018 compared to the same period in 2017 primarily due to increases in programming and production costs. The increase in programming and production costs was primarily due to increases in sports programming rights and our continued investment in original programming and an increase in studio production costs.

Operating costs and expenses increased for the nine months ended September 30, 2018 compared to the same period in 2017 primarily due to increases in programming and production costs and other operating and administrative costs. The increase in programming and production costs was primarily driven by our broadcast of the 2018 PyeongChang Olympics, as well as costs related to our continued investment in original programming and an increase in studio production costs. The increase in other operating and administrative costs was primarily due to costs related to our various digital properties, employee-related costs and costs related to our international channels.

Broadcast Television Segment Results of Operations

	Three Months Ended September 30				Increase/ (Decrease)
(in millions)	2018		2017		$			%
Revenue
Advertising	$	1,355	$	1,241	$	114		9.2	%
Content licensing	538		432		106			24.7
Distribution and other	559		452		107			23.9
Total revenue	2,452		2,125		327			15.4
Operating costs and expenses
Programming and production	1,640		1,340		300			22.4
Other operating and administrative	373		336		37			11.4
Advertising, marketing and promotion	118		133		(15		)	(11.9	)
Total operating costs and expenses	2,131		1,809		322			17.8
Adjusted EBITDA	$	321	$	316	$	5		1.8	%

	Nine Months Ended September 30				Increase/ (Decrease)
(in millions)	2018		2017		$			%
Revenue
Advertising	$	5,107	$	3,790	$	1,317		34.7	%
Content licensing	1,541		1,458		83			5.7
Distribution and other	1,692		1,326		366			27.6
Total revenue	8,340		6,574		1,766			26.9
Operating costs and expenses
Programming and production	5,604		4,124		1,480			35.9
Other operating and administrative	1,129		1,021		108			10.5
Advertising, marketing and promotion	362		375		(13		)	(3.4	)
Total operating costs and expenses	7,095		5,520		1,575			28.5
Adjusted EBITDA	$	1,245	$	1,054	$	191		18.2	%

Broadcast Television Segment—Revenue

Broadcast Television revenue increased for the three months ended September 30, 2018 compared to the same period in 2017 due to increases in advertising revenue, distribution and other revenue, and content licensing revenue. The increase in advertising revenue was due to higher prices for advertising units sold and due to revenue associated with Telemundo’s broadcast of the 2018 FIFA World Cup Russia™, which was partially offset by the impact of continued declines in audience ratings. The increase in distribution and other revenue was primarily due to increases in fees recognized under our retransmission consent agreements. The increase in content licensing revenue was primarily due to timing of content provided under our licensing agreements.

Broadcast Television revenue increased for the nine months ended September 30, 2018 compared to the same period in 2017 due to increases in advertising revenue, distribution and other revenue and content licensing revenue. The increase in advertising revenue was primarily due to $1.1 billion of revenue associated with our broadcasts of the 2018 PyeongChang Olympics and the 2018 Super Bowl. The increase in advertising revenue was also due to higher prices for advertising units sold, which was partially offset by the impact of continued declines in audience ratings. The increase in distribution and other revenue was primarily due

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to increases in fees recognized under our retransmission consent agreements. The increase in distribution and other revenue was also due to $112 million of revenue associated with our broadcast of the 2018 PyeongChang Olympics. The increase in content licensing revenue was primarily due to the timing of content provided under our licensing agreements. Excluding $1.2 billion of revenue associated with our broadcasts of the 2018 PyeongChang Olympics and the 2018 Super Bowl, revenue increased 8.7% for the nine months ended September 30, 2018.

Broadcast Television Segment—Operating Costs and Expenses

Operating costs and expenses increased for the three months ended September 30, 2018 compared to the same period in 2017 primarily due to higher programming and production costs associated with Telemundo’s broadcast of the 2018 FIFA World Cup Russia™ and higher studio production costs.

Operating costs and expenses increased for the nine months ended September 30, 2018 compared to the same period in 2017 primarily due to higher programming and production costs. The increase in programming and production costs was primarily due to costs associated with our broadcasts of the 2018 PyeongChang Olympics and the 2018 Super Bowl.

Filmed Entertainment Segment Results of Operations

	Three Months Ended September 30				Increase/ (Decrease)
(in millions)	2018		2017		$			%
Revenue
Theatrical	$	601	$	515	$	86		16.7	%
Content licensing	719		662		57			8.6
Home entertainment	260		299		(39		)	(13.1	)
Other	239		277		(38		)	(13.3	)
Total revenue	1,819		1,753		66			3.8
Operating costs and expenses
Programming and production	914		773		141			18.2
Other operating and administrative	267		282		(15		)	(5.0	)
Advertising, marketing and promotion	424		315		109			34.6
Total operating costs and expenses	1,605		1,370		235			17.2
Adjusted EBITDA	$	214	$	383	$	(169	)	(44.2	)%

	Nine Months Ended September 30				Increase/ (Decrease)
(in millions)	2018		2017		$			%
Revenue
Theatrical	$	1,564	$	2,003	$	(439	)	(21.9	)%
Content licensing	2,100		2,080		20			1.0
Home entertainment	733		919		(186		)	(20.3	)
Other	779		860		(81		)	(9.3	)
Total revenue	5,176		5,862		(686		)	(11.7	)
Operating costs and expenses
Programming and production	2,492		2,712		(220		)	(8.1	)
Other operating and administrative	869		936		(67		)	(7.1	)
Advertising, marketing and promotion	1,260		1,173		87			7.4
Total operating costs and expenses	4,621		4,821		(200		)	(4.1	)
Adjusted EBITDA	$	555	$	1,041	$	(486	)	(46.7	)%

Filmed Entertainment Segment—Revenue

Filmed Entertainment revenue increased for the three months ended September 30, 2018 compared to the same period in 2017 due to increases in theatrical revenue and content licensing revenue, which were partially offset by decreases in home entertainment revenue and other revenue. The increase in theatrical revenue was primarily due to the timing and performance of releases in the current year period, including Mamma Mia! Here We Go Again and Jurassic World: Fallen Kingdom, which were partially offset by successful releases in the prior year period, including Despicable Me 3. The increase in content licensing revenue was primarily due to the timing of when content was made available under licensing agreements. The decrease in home entertainment revenue was primarily due to higher sales of 2017 releases, including The Fate of the Furious, which were partially offset by sales of 2018

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releases, including Jurassic World: Fallen Kingdom. The decrease in other revenue was primarily due to the sale of a business in the current year period.

Filmed Entertainment revenue decreased for the nine months ended September 30, 2018 compared to the same period in 2017 due to decreases in theatrical revenue, home entertainment revenue and other revenue, which were partially offset by an increase in content licensing revenue. Theatrical revenue decreased due to the strong performances of several releases in our 2017 film slate, including The Fate of the Furious and Despicable Me 3, which was partially offset by performances of several releases in our 2018 film slate, including Jurassic World: Fallen Kingdom and Mamma Mia! Here We Go Again. Home entertainment revenue decreased primarily due to higher sales of 2017 releases in the prior year period, including Sing and The Fate of the Furious, which were partially offset by sales of 2018 releases, including Jurassic World: Fallen Kingdom. The decrease in other revenue was primarily due to decreases in revenue as a result of the sale of a business and a decrease in revenue from consumer products. Content licensing revenue increased primarily due to the timing of when content was made available under licensing agreements.

Filmed Entertainment Segment—Operating Costs and Expenses

Operating costs and expenses increased for the three months ended September 30, 2018 compared to the same period in 2017 due to increases in programming and production costs and advertising, marketing and promotion expenses, which were partially offset by a decrease in other operating and administrative expenses. The increase in programming and production costs was primarily due to higher amortization of film production costs in the current year period. The increase in advertising, marketing and promotion expenses was primarily due to a higher number of releases in the current year period as compared to the prior year period and increased marketing in the current year period relating to future releases. The decrease in other operating and administrative expenses was primarily due to the sale of a business in the current year period.

Operating costs and expenses decreased for the nine months ended September 30, 2018 compared to the same period in 2017 primarily due to decreases in programming and production costs and other operating and administrative expenses, which were partially offset by an increase in advertising, marketing and promotion expenses. The decrease in programming and production costs was primarily due to higher amortization of film production costs in the prior year period compared to the current year period. The decrease in other operating and administrative expenses was primarily due to a reduction in employee-related costs and the sale of a business in the current year period. The increase in advertising, marketing and promotion expenses was primarily related to increased marketing in the current year period relating to future releases.

Theme Parks Segment Results of Operations

	Three Months Ended September 30				Increase/ (Decrease)
(in millions)	2018		2017		$			%
Revenue	$	1,528	$	1,550	$	(22	)	(1.4	)%
Operating costs and expenses	803		775		28			3.7
Adjusted EBITDA	$	725	$	775	$	(50	)	(6.5	)%

	Nine Months Ended September 30				Increase/ (Decrease)
(in millions)	2018		2017		$		%
Revenue	$	4,170	$	3,982	$	188	4.7	%
Operating costs and expenses	2,381		2,259		122		5.4
Adjusted EBITDA	$	1,789	$	1,723	$	66	3.8	%

Theme Parks Segment—Revenue

Theme Parks revenue decreased for the three months ended September 30, 2018 compared to the same period in 2017 primarily as a result of lower attendance driven by inclement weather conditions and natural disasters in Japan.

Theme Parks revenue increased for the nine months ended September 30, 2018 compared to the same period in 2017 primarily due to higher guest spending, driven by increased ticket prices and merchandise, food and beverage spend, partially offset by the impact of inclement weather conditions and natural disasters in Japan.

Theme Parks Segment—Operating Costs and Expenses

Operating costs and expenses increased for the three and nine months ended September 30, 2018 compared to the same periods in 2017 primarily due to higher operating costs related to newer rides and attractions, and for Volcano Bay^TM in Orlando, which was partially offset by the impact of inclement weather conditions and natural disasters in Japan.

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Corporate and Other Results of Operations

	Three Months Ended September 30						Increase/ (Decrease)
(in millions)	2018			2017			$			%
Revenue	$	276		$	266		$	10		4.2	%
Operating costs and expenses	654			865			(211		)	(24.4	)
Adjustment for legal settlement	—			(250		)	250			NM
Adjusted EBITDA	$	(378	)	$	(349	)	$	(29	)	(8.1	)%
	Nine Months Ended September 30						Increase/ (Decrease)
(in millions)	2018			2017			$			%
Revenue	$	922		$	679		$	243		35.8	%
Operating costs and expenses	2,089			1,774			315			17.8
Adjustment for legal settlement	—			(250		)	250			NM
Adjusted EBITDA	$	(1,167	)	$	(845	)	$	(322	)	(38.1	)%

Corporate and Other—Revenue

Other revenue primarily relates to revenue from business development initiatives, such as our wireless phone service that we launched in 2017, and from Comcast Spectacor, which owns the Philadelphia Flyers and the Wells Fargo Center arena in Philadelphia, Pennsylvania.

Corporate and Other revenue increased for the three and nine months ended September 30, 2018 primarily due to revenue associated with our wireless phone service, which was partially offset by decreases in revenue due to sales of businesses in the second quarter of 2018 and the third quarter of 2017.

Corporate and Other—Operating Costs and Expenses

Corporate and Other operating costs and expenses primarily include overhead, personnel costs, the costs of other business development initiatives, including our wireless phone service, and operating costs and expenses associated with Comcast Spectacor.

Corporate and Other operating costs and expenses decreased for the three months ended September 30, 2018 primarily due to sales of businesses in the second quarter of 2018 and the third quarter of 2017, partially offset by increased expenses associated with our wireless phone service and transaction-related costs associated with the Sky transaction.

Corporate and Other operating costs and expenses increased for the nine months ended September 30, 2018 primarily due to expenses associated with our wireless phone service and transaction-related costs associated with the Sky transaction, which were partially offset by declines in operating costs and expenses due to sales of businesses in the second quarter of 2018 and the third quarter of 2017. Corporate and Other Adjusted EBITDA excludes $250 million of expenses related to a legal settlement in the prior year periods.

Consolidated Interest Expense

Interest expense increased for the three and nine months ended September 30, 2018 compared to the same periods in 2017 primarily due to increases in our debt outstanding and included $34 million and $45 million of costs associated with the financing of the Sky transaction for the three and nine months ended September 30, 2018, respectively.

Consolidated Investment and Other Income (Loss), Net

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Equity in net income (losses) of investees, net	$	(76	)	$	(39	)	$	(56	)	$	12
Realized and unrealized gains (losses) on equity securities, net	(38		)	7			(50		)	—
Other income (loss), net	3			102			198			287
Total	$	(111	)	$	70		$	92		$	299

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Equity in Net Income (Losses) of Investees, Net

The changes in equity in net income (losses) of investees, net for the three and nine months ended September 30, 2018 compared to the same periods in 2017 were primarily related to our equity method investments in Atairos and Hulu. The losses at Hulu were primarily due to higher programming, advertising and marketing costs, and higher other administrative expenses. The equity in net income (losses) of Atairos and Hulu for the three and nine months ended September 30, 2018 and 2017 are presented in the table below.

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Atairos	$	38		$	7		$	224		$	106
Hulu	$	(132	)	$	(62	)	$	(370	)	$	(168	)

Realized and Unrealized Gains (Losses) on Equity Securities, Net

The changes in realized and unrealized gains (losses) on equity securities, net for the three and nine months ended September 30, 2018 compared to the same periods in 2017 were primarily due to the adoption of updated accounting guidance for our marketable equity securities, which primarily relates to our investment in Snap (see Note 9).

Other Income (Loss), Net

Other income (loss), net for the three and nine months ended September 30, 2018 decreased compared to the same periods in 2017 as a result of the sale of an investment in March 2018. Other income (loss), net for the three months ended September 30, 2018 included $60 million of pretax losses on foreign exchange as a result of the remeasurement of sterling-denominated cash balances to be used in the Sky transaction in October 2018. Other income (loss), net for the nine months ended September 30, 2018 also included a $64 million pretax gain related to the sale of our investment in The Weather Channel cable network (see Note 9).

Consolidated Income Tax Expense

Income tax expense for the three and nine months ended September 30, 2018 and 2017 reflects an effective income tax rate that differs from the federal statutory rate primarily due to state and foreign income taxes and adjustments associated with uncertain tax positions. The decreases in income tax expense for the three and nine months ended September 30, 2018 compared to the same periods in 2017 were primarily due to the effects of the 2017 Tax Act, which were partially offset by higher taxable income from operations and $148 million of income tax expense due to state and federal tax law changes that were enacted in the third quarter of 2018. The 2017 Tax Act, among other things, reduced the federal corporate income tax rate to 21% from 35%, effective January 1, 2018. We also recognized an income tax benefit of $128 million during the first quarter of 2018 related to the enactment of additional federal tax legislation in 2018. 

Non-GAAP Financial Measure

Consolidated Adjusted EBITDA is a non-GAAP financial measure and is the primary basis used to measure the operational strength and performance of our businesses as well as to assist in the evaluation of underlying trends in our businesses. This measure eliminates the significant level of noncash depreciation and amortization expense that results from the capital-intensive nature of certain of our businesses and from intangible assets recognized in business combinations. It is also unaffected by our capital and tax structures, and by our investment activities, including the results of entities that we do not consolidate, as our management excludes these results when evaluating our operating performance. Our management and Board of Directors use this financial measure to evaluate our consolidated operating performance and the operating performance of our operating segments and to allocate resources and capital to our operating segments. It is also a significant performance measure in our annual incentive compensation programs. Additionally, we believe that Adjusted EBITDA is useful to investors because it is one of the bases for comparing our operating performance with that of other companies in our industries, although our measure of consolidated Adjusted EBITDA may not be directly comparable to similar measures used by other companies.

We define consolidated Adjusted EBITDA as net income attributable to Comcast Corporation before net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock, 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.

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We reconcile consolidated Adjusted EBITDA to net income attributable to Comcast Corporation. This measure should not be considered a substitute for operating income, net income, net income attributable to Comcast Corporation, or net cash provided by operating activities that we have reported in accordance with GAAP.

Reconciliation from Net Income Attributable to Comcast Corporation to Adjusted EBITDA

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Net income attributable to Comcast Corporation	$	2,886		$	2,642		$	9,220		$	7,736
Net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock	10			32			60			135
Income tax expense	999			1,409			2,894			4,038
Interest expense	830			766			2,413			2,279
Investment and other (income) loss, net	111			(70		)	(92		)	(299		)
Depreciation	2,038			1,991			6,070			5,876
Amortization	580			555			1,750			1,645
Other operating gains	(141		)	(442		)	(341		)	(442		)
Adjustment for legal settlement	—			250			—			250
Adjusted EBITDA	$	7,313		$	7,133		$	21,974		$	21,218

Liquidity and Capital Resources

Our businesses generate significant cash flows from operating activities. We believe that we will be able to continue to meet our current and long-term liquidity and capital requirements, including fixed charges, through our cash flows from operating activities; existing cash, cash equivalents and investments; available borrowings under our existing credit facilities; and our ability to obtain future external financing. We anticipate that we will continue to use a substantial portion of our cash flows in repaying our debt obligations, funding our capital expenditures, investing in business opportunities and returning capital to shareholders.

On October 9, 2018, in connection with our offer to acquire the share capital of Sky, we acquired a controlling interest in Sky through a series of purchases of Sky shares and acceptances of the offer at our offer price of £17.28 per Sky share.Because shareholders owning over 90% of the fully diluted share capital of Sky have either accepted our offer or sold their Sky shares to us, we have exercised, in accordance with applicable U.K. law, our right to acquire the remaining shares of Sky, which we expect will be completed in the fourth quarter of 2018.The consideration under our offer implies a value of approximately£30.2 billion (approximately $39.4 billionusing the exchange rate on October 9, 2018) for the fully diluted share capital of Sky.As of October 9, 2018, Sky had outstanding indebtedness that will be consolidated in our financial statements with an aggregate principal amount of approximately$11 billionusing the exchange rates as of such date, which is not guaranteed by us, Comcast Cable Communications, LLC or NBCUniversal.

To finance our acquisition, in September 2018, we borrowed £3.0 billion ($3.9 billion using the exchange rate on the date of borrowing) under our £7.0 billion unsecured sterling-denominated term loan credit agreement and $1.5 billion under Comcast’s revolving credit facility, and issued $3.0 billion of commercial paper under Comcast’s commercial paper program, all of which were classified as long-term debt at September 30, 2018. The proceeds from the term loan borrowing were restricted as to use for purchase of Sky shares and were classified as restricted cash in other noncurrent assets, net.Additionally, in October 2018, we issued$27.0 billionaggregate amount of senior unsecured fixed and floating rate notes that will mature between 2020 and 2058, and borrowed£3.6 billion ($4.8 billionusing the exchange rates on the dates of borrowings) under our£7.0 billionunsecured sterling-denominated term loan credit agreement and$3.0 billionunder our$3.0 billionunsecured dollar-denominated term loan credit agreement. The unsecured term loans and senior notes are guaranteed by Comcast Cable Communications, LLC and NBCUniversal. In October 2018, we used a portion of the net proceeds from the senior notes offering to repay the commercial paper outstanding and revolving credit facility borrowings, and to replenish a portion of our cash, in each case, that had been previously used for purchases of Sky shares.

We entered into an agreement with a consortium of Chinese state-owned companies to build and operate a Universal theme park and resort in Beijing, China (“Universal Beijing Resort”). We own a 30% interest in Universal Beijing Resort and the construction will be funded through a combination of debt financing and equity contributions from the investors in accordance with their equity interests. The construction will take place over several years and debt financing and equity contributions will occur on a periodic basis. See Note 6 to Comcast’s condensed consolidated financial statements for additional information on Universal Beijing Resort, including the debt financing agreements.

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Operating Activities

Components of Net Cash Provided by Operating Activities

	Nine Months Ended September 30
(in millions)	2018			2017
Operating income	$	14,495		$	13,889
Depreciation, amortization and other operating gains	7,479			7,079
Noncash share-based compensation	607			594
Changes in operating assets and liabilities	(511		)	(179		)
Payments of interest	(2,240		)	(2,277		)
Payments of income taxes	(1,533		)	(3,415		)
Other	210			166
Net cash provided by operating activities	$	18,507		$	15,857

The variance in changes in operating assets and liabilities for the nine months ended September 30, 2018 compared to the same period in 2017 was primarily related to our broadcast of the 2018 PyeongChang Olympics and the timing of collections on our receivables, partially offset by our broadcast of the 2018 Super Bowl.

The decrease in income tax payments for the nine months ended September 30, 2018 compared to the same period in 2017 was primarily due to federal income tax overpayments of $824 million related to the 2017 tax year that were applied to reduce tax payments in the current year, as well as a reduction in the federal income tax rate and additional depreciation deductions allowed under the 2017 Tax Act.

Investing Activities

Net cash used in investing activities for the nine months ended September 30, 2018 consisted primarily of capital expenditures, cash paid for intangible assets and purchases of investments. Capital expenditures decreased for the nine months ended September 30, 2018 compared to the same period in 2017 primarily due to a decrease in spending by our Cable Communications segment on customer premise equipment, which was partially offset by increased investments in line extensions primarily for the expansion of business services and continued investments in scalable infrastructure to increase network capacity. NBCUniversal capital expenditures increased for the nine months ended September 30, 2018 compared to the same period in 2017 primarily due to an increase in spending at our Universal theme parks. Purchases of investments for the nine months ended September 30, 2018 consisted primarily of our cash capital contributions of $341 million to Hulu and $133 million to Atairos.

Financing Activities

Net cash provided by financing activities for the nine months ended September 30, 2018 consisted primarily of proceeds from borrowings, which were partially offset by repayments of debt, repurchases of common stock under our share repurchase program and employee plans, and dividend payments.

We have made, and may from time to time in the future make, optional repayments on our debt obligations, which may include repurchases or exchanges of our outstanding public notes and debentures, depending on various factors, such as market conditions. See Note 5 to Comcast’s condensed consolidated financial statements for additional information on our financing activities, including details of our debt repayments and borrowings.

Available Borrowings Under Credit Facilities

We also maintain significant availability under our lines of credit and commercial paper programs to meet our short-term liquidity requirements.

As of September 30, 2018, amounts available under our consolidated revolving credit facilities, net of amounts outstanding under our commercial paper programs and outstanding letters of credit, totaled $3.8 billion, which included $823 million available under the NBCUniversal Enterprise revolving credit facility.

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Share Repurchases and Dividends

Effective January 1, 2017, our Board of Directors increased our share repurchase program authorization to $12 billion, which does not have an expiration date. Under the authorization, we may repurchase shares in the open market or in private transactions. During the nine months ended September 30, 2018, we repurchased a total of 112 million shares of our Class A common stock for $4.0 billion. We expect to repurchase $1.0 billion more under this authorization during the fourth quarter of 2018, although we plan to pause our common stock repurchase program in 2019 to accelerate the reduction of indebtedness we incurred in connection with the acquisition of Sky.

In addition, we paid $282 million for the nine months ended September 30, 2018 related to employee taxes associated with the administration of our share-based compensation plans.

In January 2018, our Board of Directors approved a 21% increase in our dividend to $0.76 per share on an annualized basis. In July 2018, our Board of Directors approved our third quarter dividend of $0.19 per share to be paid in October 2018. We expect to continue to pay quarterly dividends, although each dividend is subject to approval by our Board of Directors.

Critical Accounting Judgments and Estimates

The preparation of our condensed consolidated financial statements requires us to make estimates that affect the reported amounts of assets, liabilities, revenue and expenses, and the related disclosure of contingent assets and contingent liabilities. We base our judgments on our historical experience and on various other assumptions that we believe are reasonable under the circumstances, the results of which form the basis for making estimates about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.

We believe our judgments and related estimates associated with the valuation and impairment testing of our cable franchise rights and accounting for film and television costs are critical in the preparation of our condensed consolidated financial statements. We performed our annual impairment testing of our cable franchise rights as of July 1, 2018 and no impairment charge was required.

For a more complete discussion of the accounting judgments and estimates that we have identified as critical in the preparation of our condensed consolidated financial statements, please refer to our Management’s Discussion and Analysis of Financial Condition and Results of Operations in our 2017 Annual Report on Form 10-K.

Recent Accounting Pronouncements

See Note 7 to Comcast’s condensed consolidated financial statements and see Note 6 to NBCUniversal’s condensed consolidated financial statements for additional information related to recent accounting pronouncements.

ITEM 3: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

We have evaluated the information required under this item that was disclosed in our 2017 Annual Report on Form 10-K and there have been no significant changes to this information.

ITEM 4: CONTROLS AND PROCEDURES

Comcast Corporation

Conclusions regarding disclosure controls and procedures

Our principal executive and principal financial officers, after evaluating the effectiveness of Comcast’s disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of the end of the period covered by this report, have concluded that, based on the evaluation of these controls and procedures required by paragraph (b) of Exchange Act Rules 13a-15 or 15d-15, Comcast’s disclosure controls and procedures were effective.

Changes in internal control over financial reporting

There were no changes in Comcast’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 Comcast’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, Comcast’s internal control over financial reporting.

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NBCUniversal Media, LLC

Conclusions regarding disclosure controls and procedures

Our principal executive and principal financial officers, after evaluating the effectiveness of NBCUniversal’s disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) of the Exchange Act) as of the end of the period covered by this report, have concluded that, based on the evaluation of these controls and procedures required by paragraph (b) of Exchange Act Rules 13a-15 or 15d-15, NBCUniversal’s disclosure controls and procedures were effective.

Changes in internal control over financial reporting

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 NBCUniversal’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, NBCUniversal’s internal control over financial reporting.

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PART II: OTHER INFORMATION

ITEM 1: LEGAL PROCEEDINGS

Refer to Note 11 to Comcast’s condensed consolidated financial statements included in this Quarterly Report on Form 10-Q for a discussion of legal proceedings.

NBCUniversal is subject to legal proceedings and claims that arise in the ordinary course of its business and does not expect the final disposition of these matters to have a material adverse effect on its results of operations, cash flows or financial condition, although any such matters could be time-consuming and costly and could injure its reputation.

ITEM 1A: RISK FACTORS

There have been no significant changes from the risk factors previously disclosed in Item 1A of our 2017 Annual Report on Form 10-K.

ITEM 2: UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

The table below summarizes Comcast’s common stock repurchases during the three months ended September 30, 2018.

Purchases of Equity Securities

Period	Total Number of Shares Purchased	Average Price Per Share		Total Number of Shares Purchased as Part of Publicly Announced Authorization	Total Dollar Amount Purchased Under the Publicly Announced Authorization		Maximum Dollar Value of Shares That May Yet Be Purchased Under the Publicly Announced Authorization(a)
July 1-31, 2018	—	$	—	—	$	—	$	4,250,000,013
August 1-31, 2018	18,310,297	$	34.13	18,310,297	$	625,000,000	$	3,625,000,013
September 1-30, 2018	17,317,433	$	36.09	17,317,433	$	625,000,000	$	3,000,000,013
Total	35,627,730	$	35.09	35,627,730	$	1,250,000,000	$	3,000,000,013

(a) Effective January 1, 2017, our Board of Directors increased our share repurchase program authorization to $12 billion, which does not have an expiration date. Under this authorization, we may repurchase shares in the open market or in private transactions.

The total number of shares purchased during the three months ended September 30, 2018 does not include any shares received in the administration of employee share-based compensation plans.

ITEM 5: OTHER INFORMATION

Iran Threat Reduction and Syria Human Rights Act Disclosure

Pursuant to Section 219 of the Iran Threat Reduction and Syria Human Rights Act of 2012, companies are required, among other things, to disclose certain activities, transactions or dealings with the Government of Iran or entities controlled directly or indirectly by the Government of Iran. Disclosure is generally required even where the activities, transactions or dealings are conducted in compliance with applicable laws and regulations and are de minimis. As of the date of this report, we are not aware of any activity, transaction or dealing during the three months ended September 30, 2018 that requires disclosure under the Act, except with respect to a January 2016 licensing agreement by a non-U.S. subsidiary of DreamWorks Animation prior to our August 2016 DreamWorks Animation acquisition. The agreement licensed a prior season of a children’s animated television series for a three-year, non-cancelable term and for a one-time fee of $5,200 to a broadcasting company that is owned and controlled by the Government of Iran. The broadcasting company paid the license fee in the first quarter of 2016. We believe that DreamWorks Animation conducted its licensing activity in compliance with applicable laws and that the license is for the permissible exportation of informational materials pursuant to certain statutory and regulatory exemptions from U.S. sanctions.

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ITEM 6: EXHIBITS

Comcast

Exhibit No.	Description
10.1	Term Loan Credit Agreement among Comcast, the financial institutions party thereto, Bank of America, N.A., as administrative agent, Wells Fargo Bank, National Association, as syndication agent, and Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities LLC, as joint lead arrangers and joint bookrunners, dated August 22, 2018 (incorporated by reference to Exhibit 10.1 to Comcast’s Current Report on Form 8-K filed on August 22, 2018).
10.2	Amendment No. 1 to 364-Day Bridge Credit Agreement among Comcast, the financial institutions party thereto, and Bank of America, N.A., as administrative agent, and Wells Fargo Bank, National Association, as syndication agent, dated as of August 22, 2018 (incorporated by reference to Exhibit 10.2 to Comcast’s Current Report on Form 8-K filed on August 22, 2018).
10.3	Comcast Revolving Credit Agreement Increased Revolving Commitment Activation Notice, dated September 21, 2018 (incorporated by reference to Exhibit 10.1 to Comcast’s Current Report on Form 8-K filed on September 24, 2018).
10.4	Comcast Revolving Credit Agreement New Lender Supplement, dated September 21, 2018 (incorporated by reference to Exhibit 10.2 to Comcast’s Current Report on Form 8-K filed on September 24, 2018).
10.5	Amendment No. 1 to Term Loan Credit Agreement, dated September 23, 2018 (incorporated by reference to Exhibit 10.3 to Comcast’s Current Report on Form 8-K filed on September 24, 2018).
31.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1	Certification of Chief Executive Officer and Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101	The following financial statements from Comcast Corporation’s Quarterly Report on Form 10-Q for the three and nine months ended September 30, 2018, filed with the Securities and Exchange Commission on October 25, 2018, formatted in XBRL (eXtensible Business Reporting Language): (i) the Condensed Consolidated Statement of Income; (ii) the Condensed Consolidated Statement of Comprehensive Income; (iii) the Condensed Consolidated Statement of Cash Flows; (iv) the Condensed Consolidated Balance Sheet; (v) the Condensed Consolidated Statement of Changes in Equity; and (vi) the Notes to Condensed Consolidated Financial Statements.

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NBCUniversal

Exhibit No.	Description
10.1	Term Loan Credit Agreement among Comcast, the financial institutions party thereto, Bank of America, N.A., as administrative agent, Wells Fargo Bank, National Association, as syndication agent, and Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities LLC, as joint lead arrangers and joint bookrunners, dated August 22, 2018 (incorporated by reference to Exhibit 10.1 to NBCUniversal’s Current Report on Form 8-K filed on August 22, 2018).
10.2	Amendment No. 1 to 364-Day Bridge Credit Agreement among Comcast, the financial institutions party thereto, and Bank of America, N.A., as administrative agent, and Wells Fargo Bank, National Association, as syndication agent, dated as of August 22, 2018 (incorporated by reference to Exhibit 10.2 to NBCUniversal’s Current Report on Form 8-K filed on August 22, 2018).
10.3	Comcast Revolving Credit Agreement Increased Revolving Commitment Activation Notice, dated September 21, 2018 (incorporated by reference to Exhibit 10.1 to NBCUniversal’s Current Report on Form 8-K filed on September 24, 2018).
10.4	Comcast Revolving Credit Agreement New Lender Supplement, dated September 21, 2018 (incorporated by reference to Exhibit 10.2 to NBCUniversal’s Current Report on Form 8-K filed on September 24, 2018).
10.5	Amendment No. 1 to Term Loan Credit Agreement, dated September 23, 2018 (incorporated by reference to Exhibit 10.3 to NBCUniversal’s Current Report on Form 8-K filed on September 24, 2018).
31.2	Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.2	Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101	The following financial statements from NBCUniversal Media, LLC’s Quarterly Report on Form 10-Q for the three and nine months ended September 30, 2018, filed with the Securities and Exchange Commission on October 25, 2018, formatted in XBRL (eXtensible Business Reporting Language): (i) the Condensed Consolidated Statement of Income; (ii) the Condensed Consolidated Statement of Comprehensive Income; (iii) the Condensed Consolidated Statement of Cash Flows; (iv) the Condensed Consolidated Balance Sheet; (v) the Condensed Consolidated Statement of Changes in Equity; and (vi) the Notes to Condensed Consolidated Financial Statements.

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SIGNATURES

Comcast

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	COMCAST CORPORATION
By:	/s/ DANIEL C. MURDOCK
	Daniel C. Murdock Senior Vice President, Chief Accounting Officer and Controller (Principal Accounting Officer)

Date: October 25, 2018

NBCUniversal

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	NBCUNIVERSAL MEDIA, LLC
By:	/s/ DANIEL C. MURDOCK
	Daniel C. Murdock Senior Vice President (Principal Accounting Officer)

Date: October 25, 2018

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NBCUniversal Media, LLC Financial Statements

Index	Page
Condensed Consolidated Statement of Income (Unaudited)	54
Condensed Consolidated Statement of Comprehensive Income (Unaudited)	55
Condensed Consolidated Statement of Cash Flows (Unaudited)	56
Condensed Consolidated Balance Sheet (Unaudited)	57
Condensed Consolidated Statement of Changes in Equity (Unaudited)	58
Notes to Condensed Consolidated Financial Statements (Unaudited)	59

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NBCUniversal Media, LLC

Condensed Consolidated Statement of Income

(Unaudited)

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Revenue	$	8,625		$	7,976		$	26,468		$	24,147
Costs and Expenses:
Programming and production	3,896			3,239			11,947			10,115
Other operating and administrative	1,959			1,856			5,886			5,574
Advertising, marketing and promotion	704			624			2,124			2,108
Depreciation	250			253			750			749
Amortization	264			254			827			786
Other operating gains	(141		)	(337		)	(141		)	(337		)
Total costs and expenses	6,932			5,889			21,393			18,995
Operating income	1,693			2,087			5,075			5,152
Interest expense	(134		)	(139		)	(394		)	(431		)
Investment and other income (loss), net	(205		)	(26		)	(377		)	(42		)
Income before income taxes	1,354			1,922			4,304			4,679
Income tax expense	(112		)	(98		)	(291		)	(289		)
Net income	1,242			1,824			4,013			4,390
Less: Net income (loss) attributable to noncontrolling interests	11			17			22			102
Net income attributable to NBCUniversal	$	1,231		$	1,807		$	3,991		$	4,288

See accompanying notes to condensed consolidated financial statements.

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NBCUniversal Media, LLC

Condensed Consolidated Statement of Comprehensive Income

(Unaudited)

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Net income	$	1,242		$	1,824		$	4,013		$	4,390
Unrealized gains (losses) on marketable securities, net	—			(94		)	—			(233		)
Deferred gains (losses) on cash flow hedges, net	(2		)	(5		)	(4		)	(27		)
Employee benefit obligations, net	(4		)	(3		)	(11		)	101
Currency translation adjustments, net	(133		)	22			(144		)	211
Comprehensive income	1,103			1,744			3,854			4,442
Less: Net income (loss) attributable to noncontrolling interests	11			17			22			102
Less: Other comprehensive income (loss) attributable to noncontrolling interests	(20		)	5			(45		)	87
Comprehensive income attributable to NBCUniversal	$	1,112		$	1,722		$	3,877		$	4,253

See accompanying notes to condensed consolidated financial statements.

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NBCUniversal Media, LLC

Condensed Consolidated Statement of Cash Flows

(Unaudited)

	Nine Months Ended September 30
(in millions)	2018			2017
Operating Activities
Net income	$	4,013		$	4,390
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and other operating gains	1,436			1,198
Net (gain) loss on investment activity and other	497			125
Deferred income taxes	21			(6		)
Changes in operating assets and liabilities, net of effects of acquisitions and divestitures:
Current and noncurrent receivables, net	90			247
Film and television costs, net	69			(77		)
Accounts payable and accrued expenses related to trade creditors	(123		)	(270		)
Other operating assets and liabilities	(165		)	(35		)
Net cash provided by operating activities	5,838			5,572
Investing Activities
Capital expenditures	(1,135		)	(977		)
Cash paid for intangible assets	(374		)	(197		)
Note receivable from Comcast	(1,522		)	—
Construction of Universal Beijing Resort	(257		)	(47		)
Purchases of investments	(450		)	(368		)
Other	(45		)	566
Net cash provided by (used in) investing activities	(3,783		)	(1,023		)
Financing Activities
Proceeds from borrowings	485			3,948
Repurchases and repayments of debt	(387		)	(3,450		)
Proceeds from (repayments of) borrowings from Comcast, net	(1,791		)	(898		)
Distributions to member	(1,228		)	(1,720		)
Distributions to noncontrolling interests	(163		)	(165		)
Purchase of Universal Studios Japan noncontrolling interests	—			(2,299		)
Other	(147		)	86
Net cash provided by (used in) financing activities	(3,231		)	(4,498		)
Increase (decrease) in cash, cash equivalents and restricted cash	(1,176		)	51
Cash, cash equivalents and restricted cash, beginning of period	2,377			1,987
Cash, cash equivalents and restricted cash, end of period	$	1,201		$	2,038

See accompanying notes to condensed consolidated financial statements.

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Condensed Consolidated Balance Sheet

(Unaudited)

(in millions)	September 30, 2018		December 31, 2017
Assets
Current Assets:
Cash and cash equivalents	$	1,181	$	2,347
Receivables, net	6,851		6,967
Programming rights	1,213		1,606
Note receivable from Comcast	1,522		—
Other current assets	1,103		1,037
Total current assets	11,870		11,957
Film and television costs	7,369		7,082
Investments	1,722		1,816
Property and equipment, net of accumulated depreciation of $4,816 and $4,166	12,427		11,346
Goodwill	23,918		23,989
Intangible assets, net of accumulated amortization of $8,358 and $7,585	13,829		13,306
Other noncurrent assets, net	1,799		1,804
Total assets	$	72,934	$	71,300
Liabilities and Equity
Current Liabilities:
Accounts payable and accrued expenses related to trade creditors	$	1,665	$	1,663
Accrued participations and residuals	1,809		1,644
Program obligations	615		745
Deferred revenue	1,336		1,457
Accrued expenses and other current liabilities	1,914		2,394
Note payable to Comcast	41		1,831
Current portion of long-term debt	162		198
Total current liabilities	7,542		9,932
Long-term debt, less current portion	12,401		12,275
Accrued participations, residuals and program obligations	1,703		1,490
Other noncurrent liabilities	5,189		4,153
Commitments and contingencies
Redeemable noncontrolling interests	387		409
Equity:
Member’s capital	44,771		42,148
Accumulated other comprehensive income (loss)	98		(20		)
Total NBCUniversal member’s equity	44,869		42,128
Noncontrolling interests	843		913
Total equity	45,712		43,041
Total liabilities and equity	$	72,934	$	71,300

See accompanying notes to condensed consolidated financial statements.

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NBCUniversal Media, LLC

Condensed Consolidated Statement of Changes in Equity

(Unaudited)

(in millions)	Redeemable Noncontrolling Interests			Member’s Capital			Accumulated Other Comprehensive Income (Loss)			Noncontrolling Interests			Total Equity
Balance, December 31, 2016	$	530		$	38,894		$	(135	)	$	2,116		$	40,875
Dividends declared				(1,720		)							(1,720		)
Contributions from (distributions to) noncontrolling interests, net	(56		)							(95		)	(95		)
Contribution from member				662									662
Other comprehensive income (loss)							(35		)	87			52
Purchase of Universal Studios Japan noncontrolling interests				(704		)	141			(1,736		)	(2,299		)
Other	(85		)	185						470			655
Net income (loss)	18			4,288						84			4,372
Balance, September 30, 2017	$	407		$	41,605		$	(29	)	$	926		$	42,502
Balance, December 31, 2017	$	409		$	42,148		$	(20	)	$	913		$	43,041
Cumulative effects of adoption of accounting standards				(232		)	232						—
Dividends declared				(1,228		)							(1,228		)
Contributions from (distributions to) noncontrolling interests, net	(43		)							272			272
Other comprehensive income (loss)							(114		)	(45		)	(159		)
Other	(5		)	92						(293		)	(201		)
Net income (loss)	26			3,991						(4		)	3,987
Balance, September 30, 2018	$	387		$	44,771		$	98		$	843		$	45,712

See accompanying notes to condensed consolidated financial statements.

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NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

(Unaudited)

Note 1: Condensed Consolidated Financial Statements

Basis of Presentation

Unless indicated otherwise, throughout these notes to the condensed consolidated financial statements, we refer to NBCUniversal and its consolidated subsidiaries as “we,” “us” and “our.” We have prepared these unaudited condensed consolidated financial statements based on SEC rules that permit reduced disclosure for interim periods. These financial statements include all adjustments that are necessary for a fair presentation of our consolidated results of operations, cash flows and financial condition for the periods shown, including normal, recurring accruals and other items. The consolidated results of operations for the interim periods presented are not necessarily indicative of results for the full year.

The year-end condensed consolidated balance sheet was derived from audited financial statements but does not include all disclosures required by generally accepted accounting principles in the United States (“GAAP”). For a more complete discussion of our accounting policies and certain other information, refer to our consolidated financial statements included in our 2017 Annual Report on Form 10-K and the footnotes within this Form 10-Q.

See Note 6 for a discussion of the effects of the adoption of new accounting pronouncements on our condensed consolidated financial statements.

Note 2: Segment Information

We present our operations in four reportable business segments:

• Cable Networks:Consists primarily 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 various digital properties.

• Broadcast Television: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 various digital properties.

• Filmed Entertainment:Consists primarily of the operations of Universal Pictures, which produces, acquires, markets and distributes filmed entertainment worldwide; our films are also produced under the Illumination, DreamWorks Animation and Focus Features names.

• Theme Parks: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. Our financial data by business segment is presented in the tables below.

	Three Months Ended September 30, 2018
(in millions)	Revenue			Adjusted EBITDA(c)			Depreciation and Amortization		Capital Expenditures		Cash Paid for Intangible Assets
Cable Networks	$	2,884		$	968		$	180	$	11	$	6
Broadcast Television	2,452			321			32		37		—
Filmed Entertainment	1,819			214			26		9		6
Theme Parks	1,528			725			170		269		23
Headquarters and Other(a)	15			(161		)	106		79		43
Eliminations(b)	(73		)	(1		)	—		—		—
Total	$	8,625		$	2,066		$	514	$	405	$	78

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	Three Months Ended September 30, 2017
(in millions)	Revenue			Adjusted EBITDA(c)			Depreciation and Amortization		Capital Expenditures		Cash Paid for Intangible Assets
Cable Networks	$	2,603		$	906		$	179	$	5	$	4
Broadcast Television	2,125			316			33		66		4
Filmed Entertainment	1,753			383			32		18		6
Theme Parks	1,550			775			166		199		18
Headquarters and Other(a)	15			(122		)	97		66		37
Eliminations(b)	(70		)	(1		)	—		—		—
Total	$	7,976		$	2,257		$	507	$	354	$	69

	Nine Months Ended September 30, 2018
(in millions)	Revenue			Adjusted EBITDA(c)			Depreciation and Amortization		Capital Expenditures		Cash Paid for Intangible Assets
Cable Networks(d)	$	8,994		$	3,422		$	548	$	22	$	15
Broadcast Television(d)	8,340			1,245			106		99		75
Filmed Entertainment	5,176			555			117		24		20
Theme Parks	4,170			1,789			492		811		158
Headquarters and Other(a)	44			(497		)	314		179		106
Eliminations(b)(d)	(256		)	(3		)	—		—		—
Total	$	26,468		$	6,511		$	1,577	$	1,135	$	374

	Nine Months Ended September 30, 2017
(in millions)	Revenue			Adjusted EBITDA(c)			Depreciation and Amortization		Capital Expenditures		Cash Paid for Intangible Assets
Cable Networks	$	7,939		$	3,076		$	574	$	15	$	11
Broadcast Television	6,574			1,054			96		125		11
Filmed Entertainment	5,862			1,041			79		47		17
Theme Parks	3,982			1,723			494		671		57
Headquarters and Other(a)	32			(542		)	292		119		101
Eliminations(b)	(242		)	(2		)	—		—		—
Total	$	24,147		$	6,350		$	1,535	$	977	$	197

(a) Headquarters and Other activities include costs associated with overhead, allocations, personnel costs and headquarter initiatives.

(b) Included in 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, this revenue is recognized as the programming rights asset for the licensed content is amortized based on third party revenue.

(c) 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. 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.

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Adjusted EBITDA	$	2,066		$	2,257		$	6,511		$	6,350
Depreciation	(250		)	(253		)	(750		)	(749		)
Amortization	(264		)	(254		)	(827		)	(786		)
Other operating gains	141			337			141			337
Interest expense	(134		)	(139		)	(394		)	(431		)
Investment and other income (loss), net	(205		)	(26		)	(377		)	(42		)
Income before income taxes	$	1,354		$	1,922		$	4,304		$	4,679

(d) The revenue and operating costs and expenses associated with our broadcast of the 2018 PyeongChang 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.

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Note 3: Revenue

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Distribution	$	1,680		$	1,533		$	5,251		$	4,645
Advertising	820			787			2,746			2,519
Content licensing and other	384			283			997			775
Total Cable Networks	2,884			2,603			8,994			7,939
Advertising	1,355			1,241			5,107			3,790
Content licensing	538			432			1,541			1,458
Distribution and other	559			452			1,692			1,326
Total Broadcast Television	2,452			2,125			8,340			6,574
Theatrical	601			515			1,564			2,003
Content licensing	719			662			2,100			2,080
Home entertainment	260			299			733			919
Other	239			277			779			860
Total Filmed Entertainment	1,819			1,753			5,176			5,862
Total Theme Parks	1,528			1,550			4,170			3,982
Headquarters and Other	15			15			44			32
Eliminations(a)	(73		)	(70		)	(256		)	(242		)
Total revenue	$	8,625		$	7,976		$	26,468		$	24,147

(a) Included in Eliminations are transactions that our segments enter into with one another. See Note 2 for a description of these transactions.

We operate primarily in the United States, but also in select international markets primarily in Europe and Asia. The table below summarizes revenue by geographic location.

	Three Months Ended September 30				Nine Months Ended September 30
(in millions)	2018		2017		2018		2017
United States	$	6,758	$	6,088	$	20,945	$	18,344
Foreign	1,867		1,888		5,523		5,803
Total revenue	$	8,625	$	7,976	$	26,468	$	24,147

No single customer accounted for a significant amount of revenue in any period presented.

Distribution

Our Cable Networks segment generates distribution revenue from the distribution of our cable network programming to traditional and virtual multichannel video providers. Our Broadcast Television segment generates distribution revenue from the fees received under retransmission consent agreements and associated fees received from NBC-affiliated local broadcast television stations.

Distribution revenue is recognized as programming is provided on a monthly basis, generally under multiyear agreements. Monthly fees received under distribution agreements with multichannel video providers are generally based on the number of subscribers. Payment terms and conditions vary by contract type, although terms generally include payment within 30 to 60 days.

Advertising

Our Cable Networks and Broadcast Television segments generate advertising revenue from the sale of advertising on our cable and broadcast networks, our owned local broadcast television stations, and various digital properties.

We enter into advertising arrangements with customers and have determined that a contract exists once all terms and conditions are agreed upon, typically when the number of advertising units is specifically identified and the timing of airing is scheduled. Advertisements are generally aired or viewed within one year once all terms are agreed upon. Advertising revenue is recognized, net of agency commissions, in the period in which advertisements are aired or viewed and payment occurs thereafter, generally within 30 days. In some instances, we guarantee audience ratings for the advertisements. To the extent there is a shortfall in contracts where the ratings were guaranteed, a portion of the revenue is deferred until the shortfall is settled, typically by providing additional advertising units generally within one year of the original airing.

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Theatrical

Our Filmed Entertainment segment theatrical revenue is generated from the worldwide theatrical release of our produced and acquired films for exhibition in movie theaters and is affected by the timing, nature and number of films released in movie theaters and their acceptance by audiences. Theatrical revenue is also affected by the number of exhibition screens, ticket prices, the percentage of ticket sale retention by the exhibitors and the popularity of competing films at the time our films are released. We recognize theatrical revenue as the films are viewed and exhibited in theaters and payment generally occurs within 60 days after exhibition.

Content Licensing

Our Cable Networks, Broadcast Television and Filmed Entertainment segments generate revenue from the licensing of our owned film and television content in the United States and internationally to cable, broadcast and premium networks and subscription video on demand services. Our content licensing agreements generally include fixed pricing and span multiple years. For example, following a film’s theatrical release, our Filmed Entertainment segment may license the exhibition rights of a film to different customers over multiple successive distribution windows.

We recognize revenue when the content is delivered and available for use by the licensee. When the term of an existing agreement is renewed or extended, we recognize revenue at the later of when the content is available or when the renewal or extension period begins. Payment terms and conditions vary by contract type, although payments are generally collected over the license term. The amount of future revenue to be earned related to fixed pricing under existing agreements primarily relates to our Filmed Entertainment segment, which at any given time equals approximately 1 to 2 years of our annual Filmed Entertainment content licensing revenue. The substantial majority of this revenue will be recognized within 2 years. This amount may fluctuate from period to period depending on the timing of the release and the availability of content under existing agreements and may not represent the total content licensing revenue expected to be recognized as it does not include revenue from future agreements or from variable pricing or optional purchases under existing agreements.

For our content licensing agreements that include variable pricing, such as pricing based on the number of subscribers to a subscription video on demand service sold by our customers, we generally recognize revenue as our customers sell to their subscribers.

Home Entertainment

Our Filmed Entertainment segment generates revenue from the sale of our produced and acquired films on standard-definition digital video discs and Blu-ray discs (together, “DVDs”) and through digital distribution services. Our Cable Networks and Broadcast Television networks also generate revenue from the sale of owned programming on DVDs and through digital distribution services, which is reported in other revenue. We recognize revenue from DVD sales, net of estimated returns and customer incentives, on the date that DVDs are delivered to and made available for sale by retailers. Payment terms generally include payment within 60 to 90 days from delivery to the retailer.

Theme Parks

Our Theme Parks segment generates revenue primarily from ticket sales and guest spending at our Universal theme parks in Orlando, Florida; Hollywood, California; and Osaka, Japan. Guest spending includes in-park spending on food, beverages and merchandise. We recognize revenue from theme park ticket sales when the tickets are used, generally within a year from the date of purchase. For annual passes, we generally recognize revenue on a straight-line basis over the period the pass is available to be used. We recognize revenue from guest spending at the point of sale.

Condensed Consolidated Balance Sheet

The following tables summarize our accounts receivable and other balances that are not separately presented in our condensed consolidated balance sheet that relate to the recognition of revenue and collection of the related cash.

(in millions)	September 30, 2018		December 31, 2017
Receivables, gross	$	6,951	$	7,055
Less: Allowance for doubtful accounts	100		88
Receivables, net	$	6,851	$	6,967

(in millions)	September 30, 2018		December 31, 2017
Noncurrent receivables, net (included in other noncurrent assets, net)	$	1,098	$	1,093
Noncurrent deferred revenue (included in other noncurrent liabilities)	$	451	$	392

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Note 4: Long-Term Debt

As of September 30, 2018, our debt, excluding the note payable to Comcast, had a carrying value of $12.6 billion and an estimated fair value of $12.9 billion. The estimated fair value of our publicly traded debt was primarily based on Level 1 inputs that use quoted market values for the debt. The estimated fair value of debt for which there are no quoted market prices was based on Level 2 inputs that use interest rates available to us for debt with similar terms and remaining maturities.

For the nine months ended September 30, 2018, Universal Beijing Resort borrowed $386 million under its debt financing agreement to fund the construction of a Universal theme park and resort in Beijing, China (see Note 5).

For the nine months ended September 30, 2018, we repaid $362 million of Universal Studios Japan term loans maturing 2022.

Cross-Guarantee Structure

We, Comcast and a 100% owned cable holding company subsidiary of Comcast (“CCCL Parent”) have fully and unconditionally guaranteed each other’s debt securities, including the $7.6 billion Comcast revolving credit facility due 2021 and the £3.0 billion of borrowings ($3.9 billion using the exchange rate on the date of borrowing) under Comcast’s £7.0 billion unsecured sterling-denominated term loan credit agreement. As of September 30, 2018, outstanding debt securities of $58.7 billion of Comcast and CCCL Parent were subject to the cross-guarantee structure.

In October 2018, in connection with Comcast’s acquisition of Sky on October 9, 2018, Comcast issued $27.0 billion aggregate amount of senior unsecured fixed and floating rate notes that will mature between 2020 and 2058, and borrowed £3.6 billion ($4.8 billion using the exchange rates on the dates of borrowings) under Comcast’s £7.0 billionunsecured sterling-denominated term loan credit agreement and$3.0 billion under Comcast’s $3.0 billion unsecured dollar-denominated term loan credit agreement. We also guarantee these senior notes and unsecured term loans under the cross-guarantee structure.

We do not, however, guarantee the obligations of NBCUniversal Enterprise with respect to its $3.0 billion aggregate principal amount of senior notes, $1.6 billion revolving credit facility and commercial paper program, or $725 million liquidation preference of Series A cumulative preferred stock. Additionally, the Universal Studios Japan and Universal Beijing Resort term loans are not subject to the cross-guarantee structure and are not guaranteed by us; however, the Universal Studios Japan term loans have a separate guarantee from Comcast.

Note 5: Significant Transactions

Universal Beijing Resort

We entered into an agreement with a consortium of Chinese state-owned companies to build and operate a Universal theme park and resort in Beijing, China (“Universal Beijing Resort”). We own a 30% interest in Universal Beijing Resort and the construction will be funded through a combination of debt financing and equity contributions from the investors in accordance with their equity interests. The debt financing, which is being provided by a syndicate of Chinese financial institutions, contains certain financial and operating covenants and a maximum borrowing limit of ¥26.6 billion RMB (approximately $4 billion as of quarter end). The debt financing is secured by the assets of Universal Beijing Resort and the equity interests of the investors. For the nine months ended September 30, 2018, Universal Beijing Resort borrowed $386 million of term loans under the debt financing agreements.

We have concluded that Universal Beijing Resort is a variable interest entity based on its governance structure, and we consolidate it because we have the power to direct activities that most significantly impact its economic performance. There are no liquidity arrangements, guarantees or other financial commitments between us and Universal Beijing Resort, and therefore our maximum risk of financial loss is our 30% interest. Universal Beijing Resort’s results of operations are reported in our Theme Parks segment. Our condensed consolidated statement of cash flows includes the costs of construction and related borrowings in the "construction of Universal Beijing Resort" and "proceeds from borrowings" captions, respectively, and equity contributions from our investing partner are included in other financing activities.

In March 2018, Universal Beijing Resort received initial equity investments through a combination of cash and noncash contributions from the investors. As of September 30, 2018, our condensed consolidated balance sheet included assets, primarily property and equipment, and liabilities, including the term loans, of Universal Beijing Resort totaling $1.2 billion and $728 million, respectively.

FCC Spectrum Auction

On April 13, 2017, the Federal Communications Commission announced the results of its spectrum auction. In the auction, we relinquished our spectrum rights in the New York, Philadelphia and Chicago designated market areas (“DMAs”) where NBC and Telemundo had overlapping spectrum. We received proceeds of $482 million in July 2017, which were recorded in other investing activities in our condensed consolidated statement of cash flows. We recognized a pretax gain of $337 million in other operating gains for the three and nine months ended September 30, 2017 in our condensed consolidated statement of income. NBC and Telemundo stations will share broadcast signals in these DMAs.

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Universal Studios Japan

On April 6, 2017, we acquired the remaining interests in Universal Studios Japan that we did not already own for $2.3 billion. The acquisition was funded through borrowings under our revolving credit agreement with Comcast. Because we maintained control of Universal Studios Japan, the difference between the consideration transferred and the recorded value of the noncontrolling interests, as well as the related accumulated other comprehensive income impact, were recorded to member’s capital.

Note 6: Recent Accounting Pronouncements

Revenue Recognition

In May 2014, the Financial Accounting Standards Board (“FASB”) updated the accounting guidance related to revenue recognition. The updated accounting guidance provides a single, contract-based revenue recognition model to help improve financial reporting by providing clearer guidance on when an entity should recognize revenue and by reducing the number of standards to which an entity has to refer. The core principle of the new standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services.

We adopted the updated guidance on January 1, 2018 on a full retrospective basis, which required us to reflect the impact of the updated guidance for all periods presented.

The adoption of the new standard did not have a material impact on our consolidated results of operations or financial position for any period presented. The updated guidance also requires additional disclosures regarding the nature, timing and uncertainty of our revenue transactions (see Note 3).

The tables below present the effects on our condensed consolidated statement of income and balance sheet for the prior year periods presented.

Condensed Consolidated Statement of Income

	Three Months Ended September 30, 2017							Nine Months Ended September 30, 2017
(in millions)	Previously Reported		Effects of Adoption			As Adjusted		Previously Reported		Effects of Adoption			As Adjusted
Revenue	$	8,014	$	(38	)	$	7,976	$	24,213	$	(66	)	$	24,147
Total costs and expenses	$	5,909	$	(20	)	$	5,889	$	19,048	$	(53	)	$	18,995
Operating income	$	2,105	$	(18	)	$	2,087	$	5,165	$	(13	)	$	5,152
Net income attributable to NBCUniversal	$	1,825	$	(18	)	$	1,807	$	4,301	$	(13	)	$	4,288

Condensed Consolidated Balance Sheet

	December 31, 2017
(in millions)	Previously Reported		Effects of Adoption			As Adjusted
Total current assets	$	11,673	$	284		$	11,957
Film and television costs	$	7,071	$	11		$	7,082
Other noncurrent assets, net	$	1,872	$	(68	)	$	1,804
Total assets	$	71,073	$	227		$	71,300
Total current liabilities	$	9,602	$	330		$	9,932
Other noncurrent liabilities	$	4,109	$	44		$	4,153
Total equity	$	43,188	$	(147	)	$	43,041
Total liabilities and equity	$	71,073	$	227		$	71,300

The adoption of the updated guidance impacted the timing of recognition for some of our revenue contracts, primarily for content licensing agreements. As a result of the adoption of the updated guidance, when the term of existing content licensing agreements is renewed or extended, revenue is not recognized until the date when the renewal or extension period begins. Under the prior guidance, revenue for the content licensing renewal period was recognized on the date that the renewal was agreed to contractually. This change resulted in delayed revenue recognition for content licensing renewals or extensions in our Cable Networks, Broadcast Television and Filmed Entertainment segments. This change also impacted the timing of the related amortization of our film and television costs and participations and residuals expenses. The adoption of the updated guidance did not have a material impact on the results of operations or financial position for our reportable segments.

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Financial Assets and Financial Liabilities

In January 2016, the FASB updated the accounting guidance related to the recognition and measurement of financial assets and financial liabilities. The updated accounting guidance, among other things, requires that all nonconsolidated equity investments, except those accounted for under the equity method, be measured at fair value and the changes in fair value be recognized in net income. On January 1, 2018, we adopted the updated guidance prospectively along with a related clarifying update and as a result, we recorded a $232 million cumulative effect adjustment to member’s capital and accumulated other comprehensive income (loss). See Note 8 for further information.

Restricted Cash

In November 2016, the FASB updated the accounting guidance related to restricted cash. The new standard requires that the statement of cash flows present the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents, and a reconciliation of such total to amounts on the balance sheet. We adopted the updated guidance on January 1, 2018 and as required applied the retrospective transition method. The adoption did not have a material impact for any period presented.

Leases

In February 2016, the FASB updated the accounting guidance related to leases. The updated accounting guidance requires lessees to recognize a right-of-use asset and a lease liability on the balance sheet for all leases with the exception of short-term leases. The asset and liability are initially measured based on the present value of committed lease payments. For a lessee, the recognition, measurement and presentation of expenses and cash flows arising from a lease do not significantly change from previous guidance. For a lessor, the accounting applied is also largely unchanged from previous guidance. We will adopt the updated accounting guidance in the first quarter of 2019 and prior periods will not be adjusted. We are currently in the process of determining the impact that the updated accounting guidance will have on our consolidated financial statements.

Note 7: Film and Television Costs

(in millions)	September 30, 2018		December 31, 2017
Film Costs:
Released, less amortization	$	1,573	$	1,734
Completed, not released	242		50
In production and in development	1,010		1,149
	2,825		2,933
Television Costs:
Released, less amortization	2,286		2,260
In production and in development	905		818
	3,191		3,078
Programming rights, less amortization	2,566		2,677
	8,582		8,688
Less: Current portion of programming rights	1,213		1,606
Film and television costs	$	7,369	$	7,082

Note 8: Investments

(in millions)	September 30, 2018		December 31, 2017
Equity method	$	660	$	690
Marketable equity securities	249		430
Nonmarketable equity securities	813		696
Total investments	$	1,722	$	1,816

65

NBCUniversal Media, LLC

Investment and Other Income (Loss), Net

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Equity in net income (losses) of investees, net	$	(119	)	$	(52	)	$	(306	)	$	(107	)
Realized and unrealized gains (losses) on equity securities, net	(91		)	—			(128		)	2
Other income (loss), net	5			26			57			63
Investment and other income (loss), net	$	(205	)	$	(26	)	$	(377	)	$	(42	)

Beginning January 1, 2018, in connection with our adoption of the updated accounting guidance related to the recognition and measurement of financial assets and financial liabilities (see Note 6), we updated the presentation and accounting policies for our investments previously classified as fair value and cost method investments. The investment categories presented in the table above are based on the new guidance and updated policies, where applicable, are presented below.

Equity Method

Hulu

As of September 30, 2018 and December 31, 2017, we had an investment in Hulu of $219 million and $249 million, respectively. For the nine months ended September 30, 2018 and 2017, we made cash capital contributions to Hulu totaling $341 million and $198 million, respectively. We recognize our proportionate share of Hulu’s income and losses in equity in net income (losses) of investees, net. For the three and nine months ended September 30, 2018, we recognized our proportionate share of Hulu’s losses of $132 million and $370 million, respectively. For the three and nine months ended September 30, 2017, we recognized our proportionate share of Hulu’s losses of $62 million and $168 million, respectively.

The Weather Channel

In March 2018, we sold our investment in The Weather Channel cable network and recognized a pretax gain of $64 million in other income (loss), net.

Marketable Equity Securities

We classify publicly traded investments with readily determinable fair values that are not accounted for under the equity method as marketable equity securities. Marketable equity securities are recorded at cost and adjusted to fair value at each reporting period. The changes in fair value between measurement dates are recorded in realized and unrealized gains (losses) on equity securities, net. The fair values of our marketable equity securities are based on Level 1 inputs that use quoted market prices.

Snap

In March 2017, Comcast acquired an interest in Snap Inc. as part of its initial public offering. On March 31, 2017, Comcast contributed its investment in Snap to us as an equity contribution of $662 million, which was recorded in our condensed consolidated statement of equity based on the fair value of the investment as of March 31, 2017. We have classified our investment as a marketable equity security. Snap is a camera company whose primary product is Snapchat, a camera app that was created to help people communicate through short videos and images. As of September 30, 2018 and December 31, 2017, we had an investment in Snap of $249 million and $430 million, respectively. For the three and nine months ended September 30, 2018, we recognized unrealized losses of $135 million and $180 million, respectively, in realized and unrealized gains (losses) on equity securities, net related to our investment in Snap.

Nonmarketable Equity Securities

We classify investments without readily determinable fair values that are not accounted for under the equity method as nonmarketable equity securities. The accounting guidance requires nonmarketable equity securities to be recorded at cost and adjusted to fair value at each reporting period. However, the guidance allows for a measurement alternative, which is to record the investments at cost, less impairment, if any, and subsequently adjust for observable price changes of identical or similar investments of the same issuer. We apply this measurement alternative toour nonmarketable equity securities. When an observable event occurs, we estimate the fair values of our nonmarketable equity securities based on Level 2 inputs that are derived from observable price changes of similar securities adjusted for insignificant differences in rights and obligations. The changes in value are recorded in realized and unrealized gains (losses) on equity securities, net.

66

NBCUniversal Media, LLC

Note 9: Supplemental Financial Information

Cash Payments for Interest and Income Taxes 

	Nine Months Ended September 30
(in millions)	2018		2017
Interest	$	253	$	340
Income taxes	$	373	$	213

Noncash Investing and Financing Activities

During the nine months ended September 30, 2018:

• we acquired $1.2 billion of property and equipment and intangible assets that were accrued but unpaid

• we received noncash contributions from noncontrolling interests totaling $391 million related to Universal Beijing Resort (see Note 5)

Cash, Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the condensed consolidated balance sheet to the total of the amounts reported in our condensed consolidated statement of cash flows.

(in millions)	September 30, 2018		December 31, 2017
Cash and cash equivalents	$	1,181	$	2,347
Restricted cash included in other noncurrent assets, net	20		30
Cash, cash equivalents and restricted cash, end of period	$	1,201	$	2,377

Accumulated Other Comprehensive Income (Loss)

(in millions)	September 30, 2018			September 30, 2017
Unrealized gains (losses) on marketable securities	$	—		$	(233	)
Deferred gains (losses) on cash flow hedges	5			(4		)
Unrecognized gains (losses) on employee benefit obligations	115			115
Cumulative translation adjustments	(22		)	93
Accumulated other comprehensive income (loss)	$	98		$	(29	)

Note 10: Related Party Transactions

In the ordinary course of our business, we enter into transactions with Comcast.

We generate revenue from Comcast primarily from the distribution of our cable network programming, the fees received under retransmission consent agreements in our Broadcast Television segment and, to a lesser extent, the sale of advertising and our owned programming, and we incur expenses primarily related to advertising and various support services provided by Comcast to us.

Comcast is also the counterparty to one of our contractual obligations. As of September 30, 2018, the carrying value of the liability associated with this contractual obligation was $383 million.

The following tables present transactions with Comcast and its consolidated subsidiaries that are included in our condensed consolidated financial statements.

Condensed Consolidated Statement of Income

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Transactions with Comcast and Consolidated Subsidiaries
Revenue	$	506		$	463		$	1,580		$	1,382
Total costs and expenses	$	(59	)	$	(38	)	$	(162	)	$	(148	)
Interest expense and investment and other income (loss), net	$	(9	)	$	(20	)	$	(52	)	$	(67	)

67

NBCUniversal Media, LLC

Condensed Consolidated Balance Sheet

(in millions)	September 30, 2018		December 31, 2017
Transactions with Comcast and Consolidated Subsidiaries
Receivables, net	$	350	$	326
Note receivable from Comcast	$	1,522	$	—
Accounts payable and accrued expenses related to trade creditors	$	48	$	54
Accrued expenses and other current liabilities	$	20	$	50
Note payable to Comcast	$	41	$	1,831
Long-term debt	$	698	$	610
Other noncurrent liabilities	$	394	$	389

Share-Based Compensation

Comcast maintains share-based compensation plans that consist primarily of awards of restricted share units and stock options to certain employees and directors as part of its approach to long-term incentive compensation. Additionally, through its employee stock purchase plans, employees are able to purchase shares of Comcast common stock at a discount through payroll deductions. Certain of our employees participate in these plans and the expense associated with their participation is settled in cash with Comcast. For the three months ended September 30, 2018 and 2017, we recognized share-based compensation expense of $37 million and $38 million, respectively. For the nine months ended September 30, 2018 and 2017, we recognized share-based compensation expense of $115 million and $103 million, respectively.

68

EX-31.1

Exhibit 31.1

CERTIFICATIONS

I, Brian L. Roberts, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Comcast Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an Annual Report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: October 25, 2018

/s/ BRIAN L. ROBERTS

Name: Brian L. Roberts

Title: Chief Executive Officer

I, Michael J. Cavanagh, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Comcast Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an Annual Report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: October 25, 2018

/s/ MICHAEL J. CAVANAGH

Name: Michael J. Cavanagh

Title: Chief Financial Officer

EX-31.2

Exhibit 31.2

CERTIFICATIONS

I, Brian L. Roberts, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of NBCUniversal Media, LLC;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an Annual Report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: October 25, 2018

/s/ BRIAN L. ROBERTS

Name: Brian L. Roberts

Title: Principal Executive Officer

I, Michael J. Cavanagh, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of NBCUniversal Media, LLC;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an Annual Report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: October 25, 2018

/s/ MICHAEL J. CAVANAGH

Name: Michael J. Cavanagh

Title: Principal Financial Officer

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT

October 25, 2018

Securities and Exchange Commission

100 F Street, N.E.

Washington, D.C. 20549

Ladies and Gentlemen:

The certification set forth below is being submitted in connection with the Quarterly Report on Form 10-Q of Comcast Corporation (the “Report”) for the purpose of complying with Rule 13a-14(b) or Rule 15d-14(b) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Section 1350 of Chapter 63 of Title 18 of the United States Code.

Brian L. Roberts, the Chief Executive Officer and Michael J. Cavanagh, the Chief Financial Officer of Comcast Corporation, each certifies that, to the best of his knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Exchange Act; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Comcast Corporation.

/s/ BRIAN L. ROBERTS

Name: Brian L. Roberts

Title: Chief Executive Officer

/s/ MICHAEL J. CAVANAGH

Name: Michael J. Cavanagh

Title: Chief Financial Officer

EX-32.2

Exhibit 32.2

CERTIFICATION PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT

October 25, 2018

Securities and Exchange Commission

100 F Street, N.E.

Washington, D.C. 20549

Ladies and Gentlemen:

The certification set forth below is being submitted in connection with the Quarterly Report on Form 10-Q of NBCUniversal Media, LLC (the “Report”) for the purpose of complying with Rule 13a-14(b) or Rule 15d-14(b) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Section 1350 of Chapter 63 of Title 18 of the United States Code.

Brian L. Roberts, the Principal Executive Officer and Michael J. Cavanagh, the Principal Financial Officer of NBCUniversal Media, LLC, each certifies that, to the best of his knowledge:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Exchange Act; and

2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of NBCUniversal Media, LLC.

/s/ BRIAN L. ROBERTS

Name: Brian L. Roberts

Title: Principal Executive Officer

/s/ MICHAEL J. CAVANAGH

Name: Michael J. Cavanagh

Title: Principal Financial Officer

XML

Document and Entity Information	9 Months Ended
	Sep. 30, 2018 shares
Document And Entity Information [Line Items]
Entity Registrant Name	COMCAST CORP
Entity Central Index Key	0001166691
Trading Symbol	cmcsa
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q3
Amendment Flag	false
NBCUniversal Media LLC [Member]
Document And Entity Information [Line Items]
Entity Registrant Name	NBCUniversal Media, LLC
Entity Central Index Key	0000902739
Entity Filer Category	Non-accelerated Filer
Class A Common Stock [Member]
Document And Entity Information [Line Items]
Entity Common Stock, Shares Outstanding	4,540,060,394
Class B Common Stock [Member]
Document And Entity Information [Line Items]
Entity Common Stock, Shares Outstanding	9,444,375

XML

Condensed Consolidated Statement of Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue	$ 22,135	$ 21,081	$ 66,661	$ 62,954
Costs and Expenses:
Programming and production	6,711	6,059	20,440	18,450
Other operating and administrative	6,444	6,535	19,323	18,642
Advertising, marketing and promotion	1,667	1,604	4,924	4,894
Depreciation	2,038	1,991	6,070	5,876
Amortization	580	555	1,750	1,645
Other operating gains	(141)	(442)	(341)	(442)
Total costs and expenses	17,299	16,302	52,166	49,065
Operating income	4,836	4,779	14,495	13,889
Interest expense	(830)	(766)	(2,413)	(2,279)
Investment and other income (loss), net	(111)	70	92	299
Income before income taxes	3,895	4,083	12,174	11,909
Income tax expense	(999)	(1,409)	(2,894)	(4,038)
Net income	2,896	2,674	9,280	7,871
Less: Net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock	10	32	60	135
Net income attributable to Comcast Corporation	$ 2,886	$ 2,642	$ 9,220	$ 7,736
Basic earnings per common share attributable to Comcast Corporation shareholders (in dollars per share)	$ 0.63	$ 0.56	$ 2.00	$ 1.64
Diluted earnings per common share attributable to Comcast Corporation shareholders (in dollars per share)	0.62	0.55	1.98	1.61
Dividends declared per common share (in dollars per share)	$ 0.19	$ 0.1575	$ 0.57	$ 0.4725
NBCUniversal Media LLC [Member]
Revenue	$ 8,625	$ 7,976	$ 26,468	$ 24,147
Costs and Expenses:
Programming and production	3,896	3,239	11,947	10,115
Other operating and administrative	1,959	1,856	5,886	5,574
Advertising, marketing and promotion	704	624	2,124	2,108
Depreciation	250	253	750	749
Amortization	264	254	827	786
Other operating gains	(141)	(337)	(141)	(337)
Total costs and expenses	6,932	5,889	21,393	18,995
Operating income	1,693	2,087	5,075	5,152
Interest expense	(134)	(139)	(394)	(431)
Investment and other income (loss), net	(205)	(26)	(377)	(42)
Income before income taxes	1,354	1,922	4,304	4,679
Income tax expense	(112)	(98)	(291)	(289)
Net income	1,242	1,824	4,013	4,390
Less: Net income (loss) attributable to noncontrolling interests	11	17	22	102
Net income attributable to Comcast Corporation	$ 1,231	$ 1,807	$ 3,991	$ 4,288

XML

Condensed Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Net income	$ 2,896	$ 2,674	$ 9,280	$ 7,871
Unrealized gains (losses) on marketable securities, net of deferred taxes	2	(59)	0	(42)
Deferred gains (losses) on cash flow hedges, net of deferred taxes	(15)	16	(26)	28
Amounts reclassified to net income:
Realized (gains) losses on marketable securities, net of deferred taxes	0	(1)	0	(1)
Realized (gains) losses on cash flow hedges, net of deferred taxes	17	(12)	43	(26)
Employee benefit obligations, net of deferred taxes	(8)	(6)	(24)	51
Currency translation adjustments, net of deferred taxes	(103)	20	(119)	166
Comprehensive income	2,789	2,632	9,154	8,047
Less: Net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock	10	32	60	135
Less: Other comprehensive income (loss) attributable to noncontrolling interests	(20)	5	(45)	87
Comprehensive income (loss) attributable to Comcast Corporation	2,799	2,595	9,139	7,825
NBCUniversal Media LLC [Member]
Net income	1,242	1,824	4,013	4,390
Unrealized gains (losses) on marketable securities, net of deferred taxes	0	(94)	0	(233)
Deferred gains (losses) on cash flow hedges, net of deferred taxes	(2)	(5)	(4)	(27)
Amounts reclassified to net income:
Employee benefit obligations, net of deferred taxes	(4)	(3)	(11)	101
Currency translation adjustments, net of deferred taxes	(133)	22	(144)	211
Comprehensive income	1,103	1,744	3,854	4,442
Less: Net income (loss) attributable to noncontrolling interests	11	17	22	102
Less: Other comprehensive income (loss) attributable to noncontrolling interests	(20)	5	(45)	87
Comprehensive income (loss) attributable to Comcast Corporation	$ 1,112	$ 1,722	$ 3,877	$ 4,253

XML

Condensed Consolidated Statement of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Statement of Comprehensive Income [Abstract]
Unrealized gains (losses) on marketable securities, deferred taxes	$ (1)	$ 35	$ (1)	$ 26
Deferred gains (losses) on cash flow hedges, deferred taxes	5	(9)	8	(16)
Realized (gains) losses on marketable securities, deferred taxes	0	0	0	0
Realized (gains) losses on cash flow hedges, deferred taxes	(5)	7	(13)	15
Employee benefit obligations, deferred taxes	2	3	7	(30)
Currency translation adjustments, deferred taxes	$ 25	$ (8)	$ 22	$ (47)

XML

Condensed Consolidated Statement of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Operating Activities
Net income	$ 9,280	$ 7,871
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and other operating gains	7,479	7,079
Share-based compensation	607	594
Noncash interest expense (income), net	289	187
Net (gain) loss on investment activity and other	118	(133)
Deferred income taxes	877	681
Changes in operating assets and liabilities, net of effects of acquisitions and divestitures:
Current and noncurrent receivables, net	(225)	123
Film and television costs, net	64	(71)
Accounts payable and accrued expenses related to trade creditors	(85)	(20)
Other operating assets and liabilities	103	(454)
Net cash provided by operating activities	18,507	15,857
Investing Activities
Capital expenditures	(6,607)	(6,839)
Cash paid for intangible assets	(1,375)	(1,136)
Acquisitions and construction of real estate properties	(129)	(325)
Construction of Universal Beijing Resort	(257)	(47)
Acquisitions, net of cash acquired	(88)	(429)
Proceeds from sales of investments	127	120
Purchases of investments	(840)	(2,064)
Other	579	797
Net cash provided by (used in) investing activities	(8,590)	(9,923)
Financing Activities
Proceeds from (repayments of) short-term borrowings, net	2,909	(2,807)
Proceeds from borrowings	9,850	11,460
Repurchases and repayments of debt	(4,405)	(5,021)
Repurchases of common stock under repurchase program and employee plans	(4,282)	(4,212)
Dividends paid	(2,487)	(2,147)
Purchase of Universal Studios Japan noncontrolling interests	0	(2,299)
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock	(209)	(198)
Other	(242)	103
Net cash provided by (used in) financing activities	1,134	(5,121)
Increase (decrease) in cash, cash equivalents and restricted cash	11,051	813
Cash, cash equivalents and restricted cash, beginning of period	3,571	3,415
Cash, cash equivalents and restricted cash, end of period	14,622	4,228
NBCUniversal Media LLC [Member]
Operating Activities
Net income	4,013	4,390
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization and other operating gains	1,436	1,198
Net (gain) loss on investment activity and other	497	125
Deferred income taxes	21	(6)
Changes in operating assets and liabilities, net of effects of acquisitions and divestitures:
Current and noncurrent receivables, net	90	247
Film and television costs, net	69	(77)
Accounts payable and accrued expenses related to trade creditors	(123)	(270)
Other operating assets and liabilities	(165)	(35)
Net cash provided by operating activities	5,838	5,572
Investing Activities
Capital expenditures	(1,135)	(977)
Cash paid for intangible assets	(374)	(197)
Note receivable from Comcast	(1,522)	0
Construction of Universal Beijing Resort	(257)	(47)
Purchases of investments	(450)	(368)
Other	(45)	566
Net cash provided by (used in) investing activities	(3,783)	(1,023)
Financing Activities
Proceeds from borrowings	485	3,948
Repurchases and repayments of debt	(387)	(3,450)
Proceeds from (repayments of) borrowings from Comcast, net	(1,791)	(898)
Distributions to member	(1,228)	(1,720)
Distributions to noncontrolling interests	(163)	(165)
Purchase of Universal Studios Japan noncontrolling interests	0	(2,299)
Other	(147)	86
Net cash provided by (used in) financing activities	(3,231)	(4,498)
Increase (decrease) in cash, cash equivalents and restricted cash	(1,176)	51
Cash, cash equivalents and restricted cash, beginning of period	2,377	1,987
Cash, cash equivalents and restricted cash, end of period	$ 1,201	$ 2,038

XML

Condensed Consolidated Balance Sheet - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Current Assets:
Cash and cash equivalents	$ 10,616	$ 3,428
Receivables, net	8,983	8,834
Programming rights	1,223	1,613
Other current assets	2,384	2,468
Total current assets	23,206	16,343
Film and television costs	7,377	7,087
Investments	7,724	6,931
Property and equipment, net	39,855	38,470
Franchise rights	59,365	59,364
Goodwill	36,703	36,780
Other intangible assets, net	18,649	18,133
Other noncurrent assets, net	7,756	4,354
Total assets	200,635	187,462
Current Liabilities:
Accounts payable and accrued expenses related to trade creditors	7,036	6,908
Accrued participations and residuals	1,809	1,644
Deferred revenue	1,633	1,687
Accrued expenses and other current liabilities	5,976	6,620
Current portion of long-term debt	3,173	5,134
Total current liabilities	19,627	21,993
Long-term debt, less current portion	69,711	59,422
Deferred income taxes	25,167	24,259
Other noncurrent liabilities	12,468	10,972
Commitments and contingencies (Note 11)
Redeemable noncontrolling interests	1,317	1,357
Equity:
Preferred stock—authorized, 20,000,000 shares; issued, zero	0	0
Common stock	54	55
Additional paid-in capital	37,394	37,497
Retained earnings	41,218	38,202
Treasury stock, 872,791,028 Class A common shares	(7,517)	(7,517)
Accumulated other comprehensive income (loss)	374	379
Total Comcast Corporation shareholders’ equity	71,523	68,616
Noncontrolling interests	822	843
Total equity	72,345	69,459
Total liabilities and equity	200,635	187,462
NBCUniversal Media LLC [Member]
Current Assets:
Cash and cash equivalents	1,181	2,347
Receivables, net	6,851	6,967
Programming rights	1,213	1,606
Note receivable from Comcast	1,522	0
Other current assets	1,103	1,037
Total current assets	11,870	11,957
Film and television costs	7,369	7,082
Investments	1,722	1,816
Property and equipment, net	12,427	11,346
Goodwill	23,918	23,989
Intangible assets, net	13,829	13,306
Other noncurrent assets, net	1,799	1,804
Total assets	72,934	71,300
Current Liabilities:
Accounts payable and accrued expenses related to trade creditors	1,665	1,663
Accrued participations and residuals	1,809	1,644
Program obligations	615	745
Deferred revenue	1,336	1,457
Accrued expenses and other current liabilities	1,914	2,394
Note payable to Comcast	41	1,831
Current portion of long-term debt	162	198
Total current liabilities	7,542	9,932
Long-term debt, less current portion	12,401	12,275
Accrued participations, residuals and program obligations	1,703	1,490
Other noncurrent liabilities	5,189	4,153
Commitments and contingencies (Note 11)
Redeemable noncontrolling interests	387	409
Equity:
Member’s capital	44,771	42,148
Accumulated other comprehensive income (loss)	98	(20)
Total NBCUniversal member’s equity	44,869	42,128
Noncontrolling interests	843	913
Total equity	45,712	43,041
Total liabilities and equity	72,934	71,300
Class A Common Stock [Member]
Equity:
Common stock	54	55
Class B Common Stock [Member]
Equity:
Common stock	$ 0	$ 0

XML

Condensed Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Property and equipment - accumulated depreciation	$ 50,934	$ 49,916
Other intangible assets - accumulated amortization	$ 13,391	$ 11,950
Preferred stock, shares authorized (in shares)	20,000,000	20,000,000
Preferred stock, shares issued (in shares)	0	0
NBCUniversal Media LLC [Member]
Property and equipment - accumulated depreciation	$ 4,816	$ 4,166
Other intangible assets - accumulated amortization	$ 8,358	$ 7,585
Class A Common Stock [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	7,500,000,000	7,500,000,000
Common stock, shares issued (in shares)	5,412,851,422	5,507,854,670
Common stock, shares outstanding (in shares)	4,540,060,394	4,635,063,642
Treasury stock (in shares)	872,791,028	872,791,028
Class B Common Stock [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	75,000,000	75,000,000
Common stock, shares issued (in shares)	9,444,375	9,444,375
Common stock, shares outstanding (in shares)	9,444,375	9,444,375

XML

Condensed Consolidated Statement of Changes in Equity - USD ($) $ in Millions	Total	Redeemable Noncontrolling Interests and Redeemable Subsidiary Preferred Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock at Cost [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Noncontrolling Interest [Member]	NBCUniversal Media LLC [Member]	NBCUniversal Media LLC [Member] Redeemable Noncontrolling Interest [Member]	NBCUniversal Media LLC [Member] Member's Capital [Member]	NBCUniversal Media LLC [Member] Accumulated Other Comprehensive Income (Loss) [Member]	NBCUniversal Media LLC [Member] Noncontrolling Interest [Member]	Class A Common Stock [Member] Common Stock [Member]	Class B Common Stock [Member] Common Stock [Member]
Beginning balance at Dec. 31, 2016	$ 56,163		$ 38,230	$ 23,065	$ (7,517)	$ 98	$ 2,231						$ 56	$ 0
Beginning balance at Dec. 31, 2016								$ 40,875		$ 38,894	$ (135)	$ 2,116
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation plans	440		440
Repurchases of common stock under repurchase program and employee plans	(4,221)		(633)	(3,587)									(1)
Employee stock purchase plans	140		140
Dividends declared	(2,239)			(2,239)				(1,720)		(1,720)
Other comprehensive income (loss)	176					89	87	52			(35)	87
Contributions from (distributions to) noncontrolling interests, net	(81)						(81)	(95)				(95)
Contribution from member								662		662
Purchase of Universal Studios Japan noncontrolling interests	(2,238)		(696)			194	(1,736)	(2,299)		(704)	141	(1,736)
Other	299		48	(1)			252	655		185		470
Net income (loss)	7,819			7,736			83	4,372		4,288		84
Ending balance at Sep. 30, 2017	56,258		37,529	24,974	(7,517)	381	836						55	0
Ending balance at Sep. 30, 2017								42,502		41,605	(29)	926
Beginning balance at Dec. 31, 2016		$ 1,446							$ 530
Increase (Decrease) in Temporary Equity [Roll Forward]
Contributions from (distributions to) noncontrolling interests, net		(31)							(56)
Other		(114)							(85)
Net income (loss)		52							18
Ending balance at Sep. 30, 2017		1,353							407
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effects of adoption of accounting standards	33			(43)		76		0		(232)	232
Beginning balance at Dec. 31, 2017	69,459		37,497	38,202	(7,517)	379	843						55	0
Beginning balance at Dec. 31, 2017								43,041		42,148	(20)	913
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock compensation plans	434		434
Repurchases of common stock under repurchase program and employee plans	(4,288)		(757)	(3,530)									(1)
Employee stock purchase plans	161		161
Dividends declared	(2,631)			(2,631)				(1,228)		(1,228)
Other comprehensive income (loss)	(126)					(81)	(45)	(159)			(114)	(45)
Contributions from (distributions to) noncontrolling interests, net	277						277	272				272
Other	(217)		59				(276)	(201)		92		(293)
Net income (loss)	9,243			9,220			23	3,987		3,991		(4)
Ending balance at Sep. 30, 2018	72,345		$ 37,394	$ 41,218	$ (7,517)	$ 374	$ 822						$ 54	$ 0
Ending balance at Sep. 30, 2018								45,712		$ 44,771	$ 98	$ 843
Beginning balance at Dec. 31, 2017	1,357	1,357						409	409
Increase (Decrease) in Temporary Equity [Roll Forward]
Contributions from (distributions to) noncontrolling interests, net		(42)							(43)
Other		(35)							(5)
Net income (loss)		37							26
Ending balance at Sep. 30, 2018	$ 1,317	$ 1,317						$ 387	$ 387

XML

Condensed Consolidated Financial Statements

9 Months Ended

Sep. 30, 2018

Condensed Consolidated Financial Statements [Line Items]

Condensed Consolidated Financial Statements

Condensed Consolidated Financial Statements

Business and Basis of Presentation

We have prepared these unaudited condensed consolidated financial statements based on SEC rules that permit reduced disclosure for interim periods. These financial statements include all adjustments that are necessary for a fair presentation of our consolidated results of operations, cash flows and financial condition for the periods shown, including normal, recurring accruals and other items. The consolidated results of operations for the interim periods presented are not necessarily indicative of results for the full year.

The year-end condensed consolidated balance sheet was derived from audited financial statements but does not include all disclosures required by generally accepted accounting principles in the United States (“GAAP”). For a more complete discussion of our accounting policies and certain other information, refer to our consolidated financial statements included in our 2017 Annual Report on Form 10-K and the footnotes within this Form 10-Q.

On October 9, 2018, we acquired a controlling interest in Sky plc. Beginning in the fourth quarter of 2018, Sky’s results will be included in our consolidated financial statements. See Note 6 for additional information on the transaction.

Reclassifications

Reclassifications have been made to our condensed consolidated financial statements for the prior year periods to conform to classifications used in 2018. See Note 7 for a discussion of the effects of the adoption of new accounting pronouncements and tax reform on our condensed consolidated financial statements.

NBCUniversal Media LLC [Member]

Condensed Consolidated Financial Statements [Line Items]

Condensed Consolidated Financial Statements

Condensed Consolidated Financial Statements

Basis of Presentation

Unless indicated otherwise, throughout these notes to the condensed consolidated financial statements, we refer to NBCUniversal and its consolidated subsidiaries as “we,” “us” and “our.” We have prepared these unaudited condensed consolidated financial statements based on SEC rules that permit reduced disclosure for interim periods. These financial statements include all adjustments that are necessary for a fair presentation of our consolidated results of operations, cash flows and financial condition for the periods shown, including normal, recurring accruals and other items. The consolidated results of operations for the interim periods presented are not necessarily indicative of results for the full year.

The year-end condensed consolidated balance sheet was derived from audited financial statements but does not include all disclosures required by generally accepted accounting principles in the United States (“GAAP”). For a more complete discussion of our accounting policies and certain other information, refer to our consolidated financial statements included in our 2017 Annual Report on Form 10-K and the footnotes within this Form 10-Q.

See Note 6 for a discussion of the effects of the adoption of new accounting pronouncements on our condensed consolidated financial statements.

XML

Segment Information

9 Months Ended

Sep. 30, 2018

Segment Reporting Information [Line Items]

Segment Information

Segment Information

We present our operations in five reportable business segments:

• Cable Communications: Consists of the operations of Comcast Cable, which is one of the nation’s largest providers of video, high-speed Internet, voice, and security and automation services (“cable services”) to residential customers under the XFINITY brand; we also provide these and other services to business customers and sell advertising.

• Cable Networks:Consists primarily 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 various digital properties.

• Broadcast Television: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 various digital properties.

• Filmed Entertainment:Consists primarily of the operations of Universal Pictures, which produces, acquires, markets and distributes filmed entertainment worldwide; our films are also produced under the Illumination, DreamWorks Animation and Focus Features names.

• Theme Parks: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 Comcast Corporation excluded from Adjusted EBITDA are not separately evaluated. Our financial data by business segment is presented in the tables below.

	Three Months Ended September 30, 2018
(in millions)	Revenue			Adjusted EBITDA(d)			Depreciation and Amortization		Capital Expenditures		Cash Paid for Intangible Assets
Cable Communications	$	13,787		$	5,615		$	2,071	$	1,944	$	353
NBCUniversal
Cable Networks	2,884			968			180		11		6
Broadcast Television	2,452			321			32		37		—
Filmed Entertainment	1,819			214			26		9		6
Theme Parks	1,528			725			170		269		23
Headquarters and Other(a)	15			(161		)	106		79		43
Eliminations(b)	(73		)	(1		)	—		—		—
NBCUniversal	8,625			2,066			514		405		78
Corporate and Other(c)	276			(378		)	33		35		14
Eliminations(b)	(553		)	10			—		—		—
Comcast Consolidated	$	22,135		$	7,313		$	2,618	$	2,384	$	445

	Three Months Ended September 30, 2017
(in millions)	Revenue			Adjusted EBITDA(d)			Depreciation and Amortization		Capital Expenditures		Cash Paid for Intangible Assets
Cable Communications	$	13,339		$	5,216		$	2,015	$	2,061	$	284
NBCUniversal
Cable Networks	2,603			906			179		5		4
Broadcast Television	2,125			316			33		66		4
Filmed Entertainment	1,753			383			32		18		6
Theme Parks	1,550			775			166		199		18
Headquarters and Other(a)	15			(122		)	97		66		37
Eliminations(b)	(70		)	(1		)	—		—		—
NBCUniversal	7,976			2,257			507		354		69
Corporate and Other(c)	266			(349		)	24		19		12
Eliminations(b)	(500		)	9			—		—		—
Comcast Consolidated	$	21,081		$	7,133		$	2,546	$	2,434	$	365

	Nine Months Ended September 30, 2018
(in millions)	Revenue			Adjusted EBITDA(d)			Depreciation and Amortization		Capital Expenditures		Cash Paid for Intangible Assets
Cable Communications	$	41,015		$	16,668		$	6,171	$	5,398	$	950
NBCUniversal
Cable Networks(e)	8,994			3,422			548		22		15
Broadcast Television(e)	8,340			1,245			106		99		75
Filmed Entertainment	5,176			555			117		24		20
Theme Parks	4,170			1,789			492		811		158
Headquarters and Other(a)	44			(497		)	314		179		106
Eliminations(b)(e)	(256		)	(3		)	—		—		—
NBCUniversal	26,468			6,511			1,577		1,135		374
Corporate and Other(c)	922			(1,167		)	72		74		51
Eliminations(b)(e)	(1,744		)	(38		)	—		—		—
Comcast Consolidated	$	66,661		$	21,974		$	7,820	$	6,607	$	1,375

	Nine Months Ended September 30, 2017
(in millions)	Revenue			Adjusted EBITDA(d)			Depreciation and Amortization		Capital Expenditures		Cash Paid for Intangible Assets
Cable Communications	$	39,646		$	15,683		$	5,928	$	5,798	$	897
NBCUniversal
Cable Networks	7,939			3,076			574		15		11
Broadcast Television	6,574			1,054			96		125		11
Filmed Entertainment	5,862			1,041			79		47		17
Theme Parks	3,982			1,723			494		671		57
Headquarters and Other(a)	32			(542		)	292		119		101
Eliminations(b)	(242		)	(2		)	—		—		—
NBCUniversal	24,147			6,350			1,535		977		197
Corporate and Other(c)	679			(845		)	58		64		42
Eliminations(b)	(1,518		)	30			—		—		—
Comcast Consolidated	$	62,954		$	21,218		$	7,521	$	6,839	$	1,136

(a) NBCUniversal Headquarters and Other activities include costs associated with overhead, allocations, personnel costs and headquarter initiatives.

(b) 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

(c) 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.

(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 Comcast Corporation before net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock, 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. 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.

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Adjusted EBITDA	$	7,313		$	7,133		$	21,974		$	21,218
Adjustment for legal settlement	—			(250		)	—			(250		)
Depreciation	(2,038		)	(1,991		)	(6,070		)	(5,876		)
Amortization	(580		)	(555		)	(1,750		)	(1,645		)
Other operating gains	141			442			341			442
Interest expense	(830		)	(766		)	(2,413		)	(2,279		)
Investment and other income (loss), net	(111		)	70			92			299
Income before income taxes	$	3,895		$	4,083		$	12,174		$	11,909

(e) The revenue and operating costs and expenses associated with our broadcast of the 2018 PyeongChang 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.

NBCUniversal Media LLC [Member]

Segment Reporting Information [Line Items]

Segment Information

Segment Information

We present our operations in four reportable business segments:

• Cable Networks:Consists primarily 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 various digital properties.

• Broadcast Television: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 various digital properties.

• Filmed Entertainment:Consists primarily of the operations of Universal Pictures, which produces, acquires, markets and distributes filmed entertainment worldwide; our films are also produced under the Illumination, DreamWorks Animation and Focus Features names.

• Theme Parks: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. Our financial data by business segment is presented in the tables below.

	Three Months Ended September 30, 2018
(in millions)	Revenue			Adjusted EBITDA(c)			Depreciation and Amortization		Capital Expenditures		Cash Paid for Intangible Assets
Cable Networks	$	2,884		$	968		$	180	$	11	$	6
Broadcast Television	2,452			321			32		37		—
Filmed Entertainment	1,819			214			26		9		6
Theme Parks	1,528			725			170		269		23
Headquarters and Other(a)	15			(161		)	106		79		43
Eliminations(b)	(73		)	(1		)	—		—		—
Total	$	8,625		$	2,066		$	514	$	405	$	78

	Three Months Ended September 30, 2017
(in millions)	Revenue			Adjusted EBITDA(c)			Depreciation and Amortization		Capital Expenditures		Cash Paid for Intangible Assets
Cable Networks	$	2,603		$	906		$	179	$	5	$	4
Broadcast Television	2,125			316			33		66		4
Filmed Entertainment	1,753			383			32		18		6
Theme Parks	1,550			775			166		199		18
Headquarters and Other(a)	15			(122		)	97		66		37
Eliminations(b)	(70		)	(1		)	—		—		—
Total	$	7,976		$	2,257		$	507	$	354	$	69

	Nine Months Ended September 30, 2018
(in millions)	Revenue			Adjusted EBITDA(c)			Depreciation and Amortization		Capital Expenditures		Cash Paid for Intangible Assets
Cable Networks(d)	$	8,994		$	3,422		$	548	$	22	$	15
Broadcast Television(d)	8,340			1,245			106		99		75
Filmed Entertainment	5,176			555			117		24		20
Theme Parks	4,170			1,789			492		811		158
Headquarters and Other(a)	44			(497		)	314		179		106
Eliminations(b)(d)	(256		)	(3		)	—		—		—
Total	$	26,468		$	6,511		$	1,577	$	1,135	$	374

	Nine Months Ended September 30, 2017
(in millions)	Revenue			Adjusted EBITDA(c)			Depreciation and Amortization		Capital Expenditures		Cash Paid for Intangible Assets
Cable Networks	$	7,939		$	3,076		$	574	$	15	$	11
Broadcast Television	6,574			1,054			96		125		11
Filmed Entertainment	5,862			1,041			79		47		17
Theme Parks	3,982			1,723			494		671		57
Headquarters and Other(a)	32			(542		)	292		119		101
Eliminations(b)	(242		)	(2		)	—		—		—
Total	$	24,147		$	6,350		$	1,535	$	977	$	197

(a) Headquarters and Other activities include costs associated with overhead, allocations, personnel costs and headquarter initiatives.

(b) Included in 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, this revenue is recognized as the programming rights asset for the licensed content is amortized based on third party revenue.

(c) 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. 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.

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Adjusted EBITDA	$	2,066		$	2,257		$	6,511		$	6,350
Depreciation	(250		)	(253		)	(750		)	(749		)
Amortization	(264		)	(254		)	(827		)	(786		)
Other operating gains	141			337			141			337
Interest expense	(134		)	(139		)	(394		)	(431		)
Investment and other income (loss), net	(205		)	(26		)	(377		)	(42		)
Income before income taxes	$	1,354		$	1,922		$	4,304		$	4,679

(d) The revenue and operating costs and expenses associated with our broadcast of the 2018 PyeongChang 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.

XML

Revenue

9 Months Ended

Sep. 30, 2018

Revenue [Line Items]

Revenue

Revenue

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Residential:
Video	$	5,591		$	5,760		$	16,878		$	17,206
High-Speed Internet	4,321			3,942			12,740			11,682
Voice	982			1,013			2,982			3,081
Business services	1,803			1,629			5,290			4,757
Advertising	684			594			1,932			1,774
Other	406			401			1,193			1,146
Total Cable Communications(a)	13,787			13,339			41,015			39,646
Distribution	1,680			1,533			5,251			4,645
Advertising	820			787			2,746			2,519
Content licensing and other	384			283			997			775
Total Cable Networks	2,884			2,603			8,994			7,939
Advertising	1,355			1,241			5,107			3,790
Content licensing	538			432			1,541			1,458
Distribution and other	559			452			1,692			1,326
Total Broadcast Television	2,452			2,125			8,340			6,574
Theatrical	601			515			1,564			2,003
Content licensing	719			662			2,100			2,080
Home entertainment	260			299			733			919
Other	239			277			779			860
Total Filmed Entertainment	1,819			1,753			5,176			5,862
Total Theme Parks	1,528			1,550			4,170			3,982
Headquarters and Other	15			15			44			32
Eliminations(b)	(73		)	(70		)	(256		)	(242		)
Total NBCUniversal	8,625			7,976			26,468			24,147
Corporate and Other	276			266			922			679
Eliminations(b)	(553		)	(500		)	(1,744		)	(1,518		)
Total revenue	$	22,135		$	21,081		$	66,661		$	62,954

(a) For the three and nine months ended September 30, 2018, 2.6% and 2.7%, respectively, of Cable Communications segment revenue was derived from franchise and other regulatory fees. For both the three and nine months ended September 30, 2017, 2.8% of Cable Communications segment revenue was derived from franchise and other regulatory fees.

(b) Included in Eliminations are transactions that our segments enter into with one another. See Note 2 for a description of these transactions.

We operate primarily in the United States, but also in select international markets, primarily in Europe and Asia. The table below summarizes revenue by geographic location.

	Three Months Ended September 30				Nine Months Ended September 30
(in millions)	2018		2017		2018		2017
United States	$	20,244	$	19,142	$	61,060	$	57,047
Foreign	1,891		1,939		5,601		5,907
Total revenue	$	22,135	$	21,081	$	66,661	$	62,954

No single customer accounted for a significant amount of revenue in any period presented.

Cable Communications Segment

Residential

Our Cable Communications segment generates revenue from residential customers subscribing to our video, high-speed Internet, voice, and security and automation services, which we market individually and as bundled services at a discounted rate in the United States. Revenue from residential customers that purchase bundled services at a discounted rate is allocated between the separate services based on the respective stand-alone selling prices. The stand-alone selling prices are determined based on the current prices at which we separately sell the cable services. Significant judgment is used to determine performance obligations that should be accounted for separately and the allocation of revenue when services are combined in a bundle. Revenue related to our security and automation services is reported in other revenue.

We recognize revenue from residential cable services as the services are provided on a monthly basis. Subscription rates and related charges vary according to the services and features customers receive. Customers are typically billed in advance and pay on a monthly basis. Installation fees are deferred and recognized as revenue over the period of benefit to the customer, which is less than a year for residential customers. While a portion of our residential customers are subject to contracts for their cable services, which are typically 2 years in length, based on our evaluation of the terms of these contracts, we recognize revenue for these cable services on a basis that is consistent with our customers that are not subject to contracts. Our cable services generally involve customer premise equipment, such as set-top boxes, cable modems and wireless gateways. The timing and pattern of recognition for customer premise equipment revenue are consistent with those of our residential cable services. Sales commissions related to our residential customers are expensed as incurred, as the related period of benefit is less than a year.

Under the terms of our cable franchise agreements, we are generally required to pay the cable franchising authority an amount based on our gross video revenue. We generally pass these and other similar fees through to our cable services customers and classify these fees in the respective cable service revenue, with the corresponding costs included in other operating and administrative expenses.

Business Services

Our Cable Communications segment generates revenue from business customers subscribing to a variety of products and services. Our small business services offerings primarily include high-speed Internet services, as well as voice and video services, similar to those that we provide to our residential customers, and also include cloud-based solutions that provide file sharing, online backup and web conferencing, among other features. We also offer Ethernet network services that connect multiple locations and provide higher downstream and upstream speed options to medium-sized customers and larger enterprises, as well as advanced voice services. In addition, we provide cellular backhaul services to mobile network operators to help these customers manage their network bandwidth.

Recently, we have expanded our enterprise service offerings to include a software-defined networking product and our managed solutions business to offer enterprise customers support related to Wi-Fi networks, router management, network security, business continuity risks and other services. We primarily offer our enterprise service offerings to Fortune 1000 companies and other large enterprises with multiple locations both within and outside of our cable distribution footprint where we have agreements with other companies to use their networks to provide coverage.

We recognize revenue from business services as the services are provided on a monthly basis. Substantially all of our business customers are initially under contracts, with terms typically ranging from 2 years for small and medium-sized businesses to up to 5 years for larger enterprises. At any given time, the amount of future revenue to be earned related to fixed pricing under existing agreements is equal to approximately half of our annual business services revenue, of which the substantial majority will be recognized within 2 years. Customers with contracts may only discontinue service in accordance with the terms of their contracts. We receive payments from business customers based on a billing schedule established in our contracts, which is typically on a monthly basis. Installation revenue related to our business services customers and sales commissions are generally deferred and recognized over the respective contract terms.

Advertising

Our Cable Communications segment generates revenue from the sale of advertising and from our advanced advertising business. As part of our distribution agreements with cable networks, we generally receive an allocation of scheduled advertising time on cable networks that we sell to local, regional and national advertisers. In most cases, the available advertising units are sold by our sales force. We also represent the advertising sales efforts of other multichannel video providers in some markets. Since we are acting as the principal in these arrangements, we record the advertising that is sold in advertising revenue and the fees paid to multichannel video providers in other operating and administrative expenses. In some cases, we work with representation firms as an extension of our sales force to sell a portion of the advertising units allocated to us and record the revenue net of agency commissions. In addition, we generate revenue from the sale of advertising online and on our On Demand service. We enter into advertising arrangements with customers and have determined that a contract exists once all terms and conditions are agreed upon, typically when the number of advertising units is specifically identified and the timing of airing is scheduled. Advertisements are generally aired or viewed within one year once all terms and conditions are agreed upon. Advertising revenue is recognized in the period in which advertisements are aired or viewed. Payment terms vary by contract, although terms generally require payment within 30 to 60 days from when advertisements are aired or viewed. Our advanced advertising business provide technology, tools, marketplace solutions and data-driven insights to various customers in the media industry to more effectively engage with their targeted audiences. Revenue earned from our advanced advertising business is recognized when services are provided.

NBCUniversal Segments

Distribution

Our Cable Networks segment generates distribution revenue from the distribution of our cable network programming to traditional and virtual multichannel video providers. Our Broadcast Television segment generates distribution revenue from the fees received under retransmission consent agreements and associated fees received from NBC-affiliated local broadcast television stations.

Distribution revenue is recognized as programming is provided on a monthly basis, generally under multiyear agreements. Monthly fees received under distribution agreements with multichannel video providers are generally based on the number of subscribers. Payment terms and conditions vary by contract type, although terms generally include payment within 30 to 60 days.

Advertising

Our Cable Networks and Broadcast Television segments generate advertising revenue from the sale of advertising on our cable and broadcast networks, our owned local broadcast television stations, and various digital properties.

We enter into advertising arrangements with customers and have determined that a contract exists once all terms and conditions are agreed upon, typically when the number of advertising units is specifically identified and the timing of airing is scheduled. Advertisements are generally aired or viewed within one year once all terms are agreed upon. Advertising revenue is recognized, net of agency commissions, in the period in which advertisements are aired or viewed and payment occurs thereafter, generally within 30 days. In some instances, we guarantee audience ratings for the advertisements. To the extent there is a shortfall in contracts where the ratings were guaranteed, a portion of the revenue is deferred until the shortfall is settled, typically by providing additional advertising units generally within one year of the original airing.

Theatrical

Our Filmed Entertainment segment theatrical revenue is generated from the worldwide theatrical release of our produced and acquired films for exhibition in movie theaters and is affected by the timing, nature and number of films released in movie theaters and their acceptance by audiences. Theatrical revenue is also affected by the number of exhibition screens, ticket prices, the percentage of ticket sale retention by the exhibitors and the popularity of competing films at the time our films are released. We recognize theatrical revenue as the films are viewed and exhibited in theaters and payment generally occurs within 60 days after exhibition.

Content Licensing

Our Cable Networks, Broadcast Television and Filmed Entertainment segments generate revenue from the licensing of our owned film and television content in the United States and internationally to cable, broadcast and premium networks and subscription video on demand services. Our content licensing agreements generally include fixed pricing and span multiple years. For example, following a film’s theatrical release, our Filmed Entertainment segment may license the exhibition rights of a film to different customers over multiple successive distribution windows.

We recognize revenue when the content is delivered and available for use by the licensee. When the term of an existing agreement is renewed or extended, we recognize revenue at the later of when the content is available or when the renewal or extension period begins. Payment terms and conditions vary by contract type, although payments are generally collected over the license term. The amount of future revenue to be earned related to fixed pricing under existing agreements primarily relates to our Filmed Entertainment segment, which at any given time equals approximately 1 to 2 years of our annual Filmed Entertainment content licensing revenue. The substantial majority of this revenue will be recognized within 2 years. This amount may fluctuate from period to period depending on the timing of the release and the availability of content under existing agreements and may not represent the total content licensing revenue expected to be recognized as it does not include revenue from future agreements or from variable pricing or optional purchases under existing agreements.

For our content licensing agreements that include variable pricing, such as pricing based on the number of subscribers to a subscription video on demand service sold by our customers, we generally recognize revenue as our customers sell to their subscribers.

Home Entertainment

Our Filmed Entertainment segment generates revenue from the sale of our produced and acquired films on standard-definition digital video discs and Blu-ray discs (together, “DVDs”) and through digital distribution services. Our Cable Networks and Broadcast Television networks also generate revenue from the sale of owned programming on DVDs and through digital distribution services, which is reported in other revenue. We recognize revenue from DVD sales, net of estimated returns and customer incentives, on the date that DVDs are delivered to and made available for sale by retailers. Payment terms generally include payment within 60 to 90 days from delivery to the retailer.

Theme Parks

Our Theme Parks segment generates revenue primarily from ticket sales and guest spending at our Universal theme parks in Orlando, Florida; Hollywood, California; and Osaka, Japan. Guest spending includes in-park spending on food, beverages and merchandise. We recognize revenue from theme park ticket sales when the tickets are used, generally within a year from the date of purchase. For annual passes, we generally recognize revenue on a straight-line basis over the period the pass is available to be used. We recognize revenue from guest spending at the point of sale.

Condensed Consolidated Balance Sheet

The following tables summarize our accounts receivable and other balances that are not separately presented in our condensed consolidated balance sheet that relate to the recognition of revenue and collection of the related cash, as well as deferred costs associated with our contracts with customers.

(in millions)	September 30, 2018		December 31, 2017
Receivables, gross	$	9,300	$	9,122
Less: Allowance for doubtful accounts	317		288
Receivables, net	$	8,983	$	8,834

(in millions)	September 30, 2018		December 31, 2017
Noncurrent receivables, net (included in other noncurrent assets, net)	$	1,207	$	1,184
Contract acquisition and fulfillment costs (included in other noncurrent assets, net)	$	928	$	922
Noncurrent deferred revenue (included in other noncurrent liabilities)	$	572	$	497

In our Cable Communications segment, we manage credit risk by screening applicants through the use of internal customer information, identification verification tools and credit bureau data, as well as offering customers the opportunity to establish automatic monthly payments. If a customer’s account is delinquent, various measures are used to collect outstanding amounts, including termination of the customer’s cable services.

Accounting Standards Update 2014-09 [Member] | NBCUniversal Media LLC [Member]

Revenue [Line Items]

Revenue

Revenue

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Distribution	$	1,680		$	1,533		$	5,251		$	4,645
Advertising	820			787			2,746			2,519
Content licensing and other	384			283			997			775
Total Cable Networks	2,884			2,603			8,994			7,939
Advertising	1,355			1,241			5,107			3,790
Content licensing	538			432			1,541			1,458
Distribution and other	559			452			1,692			1,326
Total Broadcast Television	2,452			2,125			8,340			6,574
Theatrical	601			515			1,564			2,003
Content licensing	719			662			2,100			2,080
Home entertainment	260			299			733			919
Other	239			277			779			860
Total Filmed Entertainment	1,819			1,753			5,176			5,862
Total Theme Parks	1,528			1,550			4,170			3,982
Headquarters and Other	15			15			44			32
Eliminations(a)	(73		)	(70		)	(256		)	(242		)
Total revenue	$	8,625		$	7,976		$	26,468		$	24,147

(a) Included in Eliminations are transactions that our segments enter into with one another. See Note 2 for a description of these transactions.

We operate primarily in the United States, but also in select international markets primarily in Europe and Asia. The table below summarizes revenue by geographic location.

	Three Months Ended September 30				Nine Months Ended September 30
(in millions)	2018		2017		2018		2017
United States	$	6,758	$	6,088	$	20,945	$	18,344
Foreign	1,867		1,888		5,523		5,803
Total revenue	$	8,625	$	7,976	$	26,468	$	24,147

No single customer accounted for a significant amount of revenue in any period presented.

Distribution

Our Cable Networks segment generates distribution revenue from the distribution of our cable network programming to traditional and virtual multichannel video providers. Our Broadcast Television segment generates distribution revenue from the fees received under retransmission consent agreements and associated fees received from NBC-affiliated local broadcast television stations.

Distribution revenue is recognized as programming is provided on a monthly basis, generally under multiyear agreements. Monthly fees received under distribution agreements with multichannel video providers are generally based on the number of subscribers. Payment terms and conditions vary by contract type, although terms generally include payment within 30 to 60 days.

Advertising

Our Cable Networks and Broadcast Television segments generate advertising revenue from the sale of advertising on our cable and broadcast networks, our owned local broadcast television stations, and various digital properties.

We enter into advertising arrangements with customers and have determined that a contract exists once all terms and conditions are agreed upon, typically when the number of advertising units is specifically identified and the timing of airing is scheduled. Advertisements are generally aired or viewed within one year once all terms are agreed upon. Advertising revenue is recognized, net of agency commissions, in the period in which advertisements are aired or viewed and payment occurs thereafter, generally within 30 days. In some instances, we guarantee audience ratings for the advertisements. To the extent there is a shortfall in contracts where the ratings were guaranteed, a portion of the revenue is deferred until the shortfall is settled, typically by providing additional advertising units generally within one year of the original airing.

Theatrical

Our Filmed Entertainment segment theatrical revenue is generated from the worldwide theatrical release of our produced and acquired films for exhibition in movie theaters and is affected by the timing, nature and number of films released in movie theaters and their acceptance by audiences. Theatrical revenue is also affected by the number of exhibition screens, ticket prices, the percentage of ticket sale retention by the exhibitors and the popularity of competing films at the time our films are released. We recognize theatrical revenue as the films are viewed and exhibited in theaters and payment generally occurs within 60 days after exhibition.

Content Licensing

Our Cable Networks, Broadcast Television and Filmed Entertainment segments generate revenue from the licensing of our owned film and television content in the United States and internationally to cable, broadcast and premium networks and subscription video on demand services. Our content licensing agreements generally include fixed pricing and span multiple years. For example, following a film’s theatrical release, our Filmed Entertainment segment may license the exhibition rights of a film to different customers over multiple successive distribution windows.

We recognize revenue when the content is delivered and available for use by the licensee. When the term of an existing agreement is renewed or extended, we recognize revenue at the later of when the content is available or when the renewal or extension period begins. Payment terms and conditions vary by contract type, although payments are generally collected over the license term. The amount of future revenue to be earned related to fixed pricing under existing agreements primarily relates to our Filmed Entertainment segment, which at any given time equals approximately 1 to 2 years of our annual Filmed Entertainment content licensing revenue. The substantial majority of this revenue will be recognized within 2 years. This amount may fluctuate from period to period depending on the timing of the release and the availability of content under existing agreements and may not represent the total content licensing revenue expected to be recognized as it does not include revenue from future agreements or from variable pricing or optional purchases under existing agreements.

For our content licensing agreements that include variable pricing, such as pricing based on the number of subscribers to a subscription video on demand service sold by our customers, we generally recognize revenue as our customers sell to their subscribers.

Home Entertainment

Our Filmed Entertainment segment generates revenue from the sale of our produced and acquired films on standard-definition digital video discs and Blu-ray discs (together, “DVDs”) and through digital distribution services. Our Cable Networks and Broadcast Television networks also generate revenue from the sale of owned programming on DVDs and through digital distribution services, which is reported in other revenue. We recognize revenue from DVD sales, net of estimated returns and customer incentives, on the date that DVDs are delivered to and made available for sale by retailers. Payment terms generally include payment within 60 to 90 days from delivery to the retailer.

Theme Parks

Our Theme Parks segment generates revenue primarily from ticket sales and guest spending at our Universal theme parks in Orlando, Florida; Hollywood, California; and Osaka, Japan. Guest spending includes in-park spending on food, beverages and merchandise. We recognize revenue from theme park ticket sales when the tickets are used, generally within a year from the date of purchase. For annual passes, we generally recognize revenue on a straight-line basis over the period the pass is available to be used. We recognize revenue from guest spending at the point of sale.

Condensed Consolidated Balance Sheet

The following tables summarize our accounts receivable and other balances that are not separately presented in our condensed consolidated balance sheet that relate to the recognition of revenue and collection of the related cash.

(in millions)	September 30, 2018		December 31, 2017
Receivables, gross	$	6,951	$	7,055
Less: Allowance for doubtful accounts	100		88
Receivables, net	$	6,851	$	6,967

(in millions)	September 30, 2018		December 31, 2017
Noncurrent receivables, net (included in other noncurrent assets, net)	$	1,098	$	1,093
Noncurrent deferred revenue (included in other noncurrent liabilities)	$	451	$	392

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Earnings Per Share

9 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

Computation of Diluted EPS

	Three Months Ended September 30
	2018					2017
(in millions, except per share data)	Net Income Attributable to Comcast Corporation		Shares	Per Share Amount		Net Income Attributable to Comcast Corporation		Shares	Per Share Amount
Basic EPS attributable to Comcast Corporation shareholders	$	2,886	4,564	$	0.63	$	2,642	4,698	$	0.56
Effect of dilutive securities:
Assumed exercise or issuance of shares relating to stock plans			55					79
Diluted EPS attributable to Comcast Corporation shareholders	$	2,886	4,619	$	0.62	$	2,642	4,777	$	0.55

	Nine Months Ended September 30
	2018					2017
(in millions, except per share data)	Net Income Attributable to Comcast Corporation		Shares	Per Share Amount		Net Income Attributable to Comcast Corporation		Shares	Per Share Amount
Basic EPS attributable to Comcast Corporation shareholders	$	9,220	4,599	$	2.00	$	7,736	4,725	$	1.64
Effect of dilutive securities:
Assumed exercise or issuance of shares relating to stock plans			56					81
Diluted EPS attributable to Comcast Corporation shareholders	$	9,220	4,655	$	1.98	$	7,736	4,806	$	1.61

Diluted earnings per common share attributable to Comcast Corporation shareholders (“diluted EPS”) considers the impact of potentially dilutive securities using the treasury stock method. Our potentially dilutive securities include potential common shares related to our stock options and our restricted share units (“RSUs”). The amount of potential common shares related to our share-based compensation plans that were excluded from diluted EPS because their effect would have been antidilutive was not material for the three and nine months ended September 30, 2018 and 2017.

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Long-Term Debt

9 Months Ended

Sep. 30, 2018

Debt Instrument [Line Items]

Long-Term Debt

Long-Term Debt

As of September 30, 2018, our debt had a carrying value of $72.9 billion and an estimated fair value of $74.5 billion. The estimated fair value of our publicly traded debt was primarily based on Level 1 inputs that use quoted market values for the debt. The estimated fair value of debt for which there are no quoted market prices was based on Level 2 inputs that use interest rates available to us for debt with similar terms and remaining maturities. See Note 6 for information regarding the financing of the Sky transaction.

Debt Borrowings
(in millions)	Nine Months Ended September 30, 2018
Comcast sterling-denominated term loan due 2021 (see Note 6)	$	3,913
Comcast revolving credit facility (see Note 6)	1,500
Comcast 3.90% senior notes due 2038	1,200
Comcast 3.55% senior notes due 2028	1,000
Comcast 4.00% senior notes due 2048	1,000
Comcast 4.25% senior notes due 2053	800
Universal Beijing Resort term loans (see Note 6)	386
Other	51
Total	$	9,850

Debt Repayments
(in millions)	Nine Months Ended September 30, 2018
NBCUniversal Enterprise 1.662% senior notes due 2018	$	1,100
Comcast 5.70% senior notes due 2018	1,000
Comcast 5.875% senior notes due 2018	900
NBCUniversal Enterprise senior floating rate notes due 2018	700
Universal Studios Japan term loans maturing 2022	362
Other	343
Total	$	4,405

Revolving Credit Facilities

As of September 30, 2018, $1.5 billion was outstanding under our consolidated revolving credit facilities. Amounts available under our consolidated revolving credit facilities, net of amounts outstanding under our commercial paper programs and outstanding letters of credit, totaled $3.8 billion, which included $823 million available under NBCUniversal Enterprise’s revolving credit facility.

Commercial Paper Programs

As of September 30, 2018, Comcast had $3 billion face amount of commercial paper outstanding. As of September 30, 2018, NBCUniversal Enterprise had $794 million face amount of commercial paper outstanding.

NBCUniversal Media LLC [Member]

Debt Instrument [Line Items]

Long-Term Debt

Long-Term Debt

As of September 30, 2018, our debt, excluding the note payable to Comcast, had a carrying value of $12.6 billion and an estimated fair value of $12.9 billion. The estimated fair value of our publicly traded debt was primarily based on Level 1 inputs that use quoted market values for the debt. The estimated fair value of debt for which there are no quoted market prices was based on Level 2 inputs that use interest rates available to us for debt with similar terms and remaining maturities.

For the nine months ended September 30, 2018, Universal Beijing Resort borrowed $386 million under its debt financing agreement to fund the construction of a Universal theme park and resort in Beijing, China (see Note 5).

For the nine months ended September 30, 2018, we repaid $362 million of Universal Studios Japan term loans maturing 2022.

Cross-Guarantee Structure

We, Comcast and a 100% owned cable holding company subsidiary of Comcast (“CCCL Parent”) have fully and unconditionally guaranteed each other’s debt securities, including the $7.6 billion Comcast revolving credit facility due 2021 and the £3.0 billion of borrowings ($3.9 billion using the exchange rate on the date of borrowing) under Comcast’s £7.0 billion unsecured sterling-denominated term loan credit agreement. As of September 30, 2018, outstanding debt securities of $58.7 billion of Comcast and CCCL Parent were subject to the cross-guarantee structure.

In October 2018, in connection with Comcast’s acquisition of Sky on October 9, 2018, Comcast issued $27.0 billion aggregate amount of senior unsecured fixed and floating rate notes that will mature between 2020 and 2058, and borrowed £3.6 billion ($4.8 billion using the exchange rates on the dates of borrowings) under Comcast’s £7.0 billionunsecured sterling-denominated term loan credit agreement and$3.0 billion under Comcast’s $3.0 billion unsecured dollar-denominated term loan credit agreement. We also guarantee these senior notes and unsecured term loans under the cross-guarantee structure.

We do not, however, guarantee the obligations of NBCUniversal Enterprise with respect to its $3.0 billion aggregate principal amount of senior notes, $1.6 billion revolving credit facility and commercial paper program, or $725 million liquidation preference of Series A cumulative preferred stock. Additionally, the Universal Studios Japan and Universal Beijing Resort term loans are not subject to the cross-guarantee structure and are not guaranteed by us; however, the Universal Studios Japan term loans have a separate guarantee from Comcast.

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Significant Transactions

9 Months Ended

Sep. 30, 2018

Business Acquisition [Line Items]

Significant Transactions

Significant Transactions

Sky Transaction

On October 9, 2018, in connection with our offer to acquire the share capital of Sky, we acquired a controlling interest in Sky through a series of purchases of Sky shares and acceptances of the offer at our offer price of £17.28 per Sky share.Because shareholders owning over 90% of the fully diluted share capital of Sky have either accepted our offer or sold their Sky shares to us, we have exercised, in accordance with applicable U.K. law, our right to acquire the remaining shares of Sky, which we expect will be completed in the fourth quarter of 2018.The consideration under our offer implies a value of approximately£30.2 billion (approximately $39.4 billionusing the exchange rate on October 9, 2018) for the fully diluted share capital of Sky.As of October 9, 2018, Sky had outstanding indebtedness that will be consolidated in our financial statements with an aggregate principal amount of approximately$11 billionusing the exchange rates as of such date, which is not guaranteed by us, Comcast Cable Communications, LLC or NBCUniversal.

Sky is one of Europe’s leading media and entertainment companies, connecting customers to a broad range of video content through its pay television services. It also provides communication services, including residential high-speed Internet, voice, and wireless phone services. Sky operates the Sky News broadcast network and sports and entertainment networks, produces original content, and has exclusive content rights.

To finance our acquisition, in September 2018, we borrowed £3.0 billion ($3.9 billion using the exchange rate on the date of borrowing) under our £7.0 billion unsecured sterling-denominated term loan credit agreement and $1.5 billion under Comcast’s revolving credit facility, and issued $3.0 billion of commercial paper under Comcast’s commercial paper program, all of which were classified as long-term debt at September 30, 2018. The proceeds from the term loan borrowing were restricted as to use for purchase of Sky shares and were classified as restricted cash in other noncurrent assets, net.Additionally, in October 2018, we issued$27.0 billionaggregate amount of senior unsecured fixed and floating rate notes that will mature between 2020 and 2058, and borrowed£3.6 billion ($4.8 billionusing the exchange rates on the dates of borrowings) under our£7.0 billionunsecured sterling-denominated term loan credit agreement and$3.0 billionunder our$3.0 billionunsecured dollar-denominated term loan credit agreement. The unsecured term loans and senior notes are guaranteed by Comcast Cable Communications, LLC and NBCUniversal. In October 2018, we used a portion of the net proceeds from the senior notes offering to repay the commercial paper outstanding and revolving credit facility borrowings, and to replenish a portion of our cash, in each case, that had been previously used for purchases of Sky shares.

Acquisition-Related Expenses

As a result of the Sky transaction, we have incurred incremental expenses related to legal, accounting, valuation and other professional services, which are reflected in other operating and administrative expenses. We also incurred certain financing costs associated with our borrowings, which are reflected in interest expense. The table below presents the amounts related to these expenses included in our consolidated statement of operations. Additional acquisition-related fees are expected in the fourth quarter of 2018.

	Three Months Ended September 30		Nine Months Ended September 30
(in millions)	2018		2018
Other operating and administrative expenses	$	8	$	29
Interest expense	$	34	$	45

Preliminary Purchase Price Allocation and Unaudited Pro Forma Information

We will apply acquisition accounting to Sky and its results of operations will be included in our consolidated results of operations from the date of acquisition. The assets and liabilities acquired as a result of the transaction will be recorded at their estimated fair values. Due to the limited time since the acquisition date and limitations on access to Sky information prior to the acquisition date, the initial accounting for the transaction is incomplete at this time. As a result, we are unable to provide amounts recognized as of the acquisition date for assets and liabilities acquired. Also, because the initial accounting for the transaction is incomplete, we are unable to provide supplemental pro forma revenue and earnings of the combined entity. We will include this information in future filings.

Universal Beijing Resort

We entered into an agreement with a consortium of Chinese state-owned companies to build and operate a Universal theme park and resort in Beijing, China (“Universal Beijing Resort”). We own a 30% interest in Universal Beijing Resort and the construction will be funded through a combination of debt financing and equity contributions from the investors in accordance with their equity interests. The debt financing, which is being provided by a syndicate of Chinese financial institutions, contains certain financial and operating covenants and a maximum borrowing limit of ¥26.6 billion RMB (approximately $4 billion as of quarter end). The debt financing is secured by the assets of Universal Beijing Resort and the equity interests of the investors. For the nine months ended September 30, 2018, Universal Beijing Resort borrowed $386 million of term loans under the debt financing agreements.

We have concluded that Universal Beijing Resort is a variable interest entity based on its governance structure, and we consolidate it because we have the power to direct activities that most significantly impact its economic performance. There are no liquidity arrangements, guarantees or other financial commitments between us and Universal Beijing Resort, and therefore our maximum risk of financial loss is our 30% interest. Universal Beijing Resort’s results of operations are reported in our Theme Parks segment. Our condensed consolidated statement of cash flows includes the costs of construction and related borrowings in the "construction of Universal Beijing Resort" and "proceeds from borrowings" captions, respectively, and equity contributions from our investing partner are included in other financing activities.

In March 2018, Universal Beijing Resort received initial equity investments through a combination of cash and noncash contributions from the investors. As of September 30, 2018, our condensed consolidated balance sheet included assets, primarily property and equipment, and liabilities, including the term loans, of Universal Beijing Resort totaling $1.2 billion and $728 million, respectively.

FCC Spectrum Auction

On April 13, 2017, the Federal Communications Commission announced the results of its spectrum auction. In the auction, NBCUniversal relinquished its spectrum rights in the New York, Philadelphia and Chicago designated market areas (“DMAs”) where NBC and Telemundo had overlapping spectrum. NBCUniversal received proceeds of $482 million in July 2017, which were recorded in other investing activities in our condensed consolidated statement of cash flows. NBCUniversal recognized a pretax gain of $337 million in other operating gains for the three and nine months ended September 30, 2017 in our condensed consolidated statement of income. NBC and Telemundo stations share broadcast signals in these DMAs. In connection with the auction, we also acquired the rights to $1.7 billion of spectrum, which were recorded to other intangible assets, net in our condensed consolidated balance sheet. We had previously made a deposit of $1.8 billion to participate in the auction in the third quarter of 2016 and received a refund for amounts in excess of the purchase price in the second quarter of 2017.

Universal Studios Japan

On April 6, 2017, we acquired the remaining interests in Universal Studios Japan that we did not already own for $2.3 billion. The acquisition was funded through cash on hand and borrowings under our commercial paper program. Because we maintained control of Universal Studios Japan, the difference between the consideration transferred and the recorded value of the noncontrolling interests, as well as the related tax and accumulated other comprehensive income impacts, were recorded to additional paid-in capital.

NBCUniversal Media LLC [Member]

Business Acquisition [Line Items]

Significant Transactions

Significant Transactions

Universal Beijing Resort

We entered into an agreement with a consortium of Chinese state-owned companies to build and operate a Universal theme park and resort in Beijing, China (“Universal Beijing Resort”). We own a 30% interest in Universal Beijing Resort and the construction will be funded through a combination of debt financing and equity contributions from the investors in accordance with their equity interests. The debt financing, which is being provided by a syndicate of Chinese financial institutions, contains certain financial and operating covenants and a maximum borrowing limit of ¥26.6 billion RMB (approximately $4 billion as of quarter end). The debt financing is secured by the assets of Universal Beijing Resort and the equity interests of the investors. For the nine months ended September 30, 2018, Universal Beijing Resort borrowed $386 million of term loans under the debt financing agreements.

We have concluded that Universal Beijing Resort is a variable interest entity based on its governance structure, and we consolidate it because we have the power to direct activities that most significantly impact its economic performance. There are no liquidity arrangements, guarantees or other financial commitments between us and Universal Beijing Resort, and therefore our maximum risk of financial loss is our 30% interest. Universal Beijing Resort’s results of operations are reported in our Theme Parks segment. Our condensed consolidated statement of cash flows includes the costs of construction and related borrowings in the "construction of Universal Beijing Resort" and "proceeds from borrowings" captions, respectively, and equity contributions from our investing partner are included in other financing activities.

In March 2018, Universal Beijing Resort received initial equity investments through a combination of cash and noncash contributions from the investors. As of September 30, 2018, our condensed consolidated balance sheet included assets, primarily property and equipment, and liabilities, including the term loans, of Universal Beijing Resort totaling $1.2 billion and $728 million, respectively.

FCC Spectrum Auction

On April 13, 2017, the Federal Communications Commission announced the results of its spectrum auction. In the auction, we relinquished our spectrum rights in the New York, Philadelphia and Chicago designated market areas (“DMAs”) where NBC and Telemundo had overlapping spectrum. We received proceeds of $482 million in July 2017, which were recorded in other investing activities in our condensed consolidated statement of cash flows. We recognized a pretax gain of $337 million in other operating gains for the three and nine months ended September 30, 2017 in our condensed consolidated statement of income. NBC and Telemundo stations will share broadcast signals in these DMAs.

Universal Studios Japan

On April 6, 2017, we acquired the remaining interests in Universal Studios Japan that we did not already own for $2.3 billion. The acquisition was funded through borrowings under our revolving credit agreement with Comcast. Because we maintained control of Universal Studios Japan, the difference between the consideration transferred and the recorded value of the noncontrolling interests, as well as the related accumulated other comprehensive income impact, were recorded to member’s capital.

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Recent Accounting Pronouncements and Tax Reform

9 Months Ended

Sep. 30, 2018

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Recent Accounting Pronouncements and Tax Reform

Recent Accounting Pronouncements and Tax Reform

Revenue Recognition

In May 2014, the Financial Accounting Standards Board (“FASB”) updated the accounting guidance related to revenue recognition. The updated accounting guidance provides a single, contract-based revenue recognition model to help improve financial reporting by providing clearer guidance on when an entity should recognize revenue and by reducing the number of standards to which an entity has to refer. The core principle of the new standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services.

We adopted the updated guidance on January 1, 2018 on a full retrospective basis, which required us to reflect the impact of the updated guidance for all periods presented. Upon adoption, we also implemented changes in our presentation of certain revenues and expenses, primarily in our Cable Communications segment.

The adoption of the new standard did not have a material impact on our consolidated results of operations or financial position for any period presented. The updated guidance also requires additional disclosures regarding the nature, timing and uncertainty of our revenue transactions (see Note 3).

The tables below present the effects on our condensed consolidated statement of income and balance sheet for the prior year periods presented.

Condensed Consolidated Statement of Income

	Three Months Ended September 30, 2017							Nine Months Ended September 30, 2017
(in millions)	Previously Reported		Effects of Adoption			As Adjusted		Previously Reported		Effects of Adoption		As Adjusted
Revenue	$	20,983	$	98		$	21,081	$	62,611	$	343	$	62,954
Total costs and expenses	$	16,191	$	111		$	16,302	$	48,731	$	334	$	49,065
Operating income	$	4,792	$	(13	)	$	4,779	$	13,880	$	9	$	13,889
Net income attributable to Comcast Corporation	$	2,650	$	(8	)	$	2,642	$	7,729	$	7	$	7,736

Condensed Consolidated Balance Sheet

	December 31, 2017
(in millions)	Previously Reported		Effects of Adoption			As Adjusted
Total current assets	$	16,060	$	283		$	16,343
Film and television costs	$	7,076	$	11		$	7,087
Other intangible assets, net	$	18,779	$	(646	)	$	18,133
Other noncurrent assets, net	$	3,489	$	865		$	4,354
Total assets	$	186,949	$	513		$	187,462
Total current liabilities	$	21,561	$	432		$	21,993
Deferred income taxes	$	24,256	$	3		$	24,259
Other noncurrent liabilities	$	10,904	$	68		$	10,972
Total equity	$	69,449	$	10		$	69,459
Total liabilities and equity	$	186,949	$	513		$	187,462

Cable Communications

A summary of the changes implemented for the Cable Communications segment is presented below.

Changes to Presentation of Revenue and Related Costs

• Revenue from our residential video services decreased with corresponding increases to high-speed Internet and voice revenue due to a change in the allocation of revenue among our cable services included in a bundle that our residential customers purchase at a discount.

• Revenue from franchise and other regulatory fees, which was previously presented in other revenue, is now presented with the corresponding cable services. This resulted in increases to video, voice and business services revenue.

• Residential customer late fees are now presented in other revenue. These fees were previously presented as a reduction to other operating costs and expenses.

• Certain costs, including costs related to the fulfillment of contracts with customers, are now presented as other assets and the related costs are recognized over time in operating costs and expenses, which are comprised of total costs and expenses, excluding depreciation and amortization expense and other operating gains. These amounts were previously presented as intangible assets, and the expenses were previously presented in amortization expense. The payments related to these assets are now presented in net cash provided by operating activities rather than in cash paid for intangible assets in our consolidated statement of cash flows.

Changes to the Timing of Recognition of Revenue and Related Costs

• Installation revenue and commission expense are now recognized as revenue and operating costs and expenses, respectively, over a period of time rather than recognized immediately as they were previously. We recorded a deferred revenue liability related to upfront installation fees that are not distinct services, which required us to allocate the installation fees to the respective service. The installation fees are generally recognized as revenue over the period that the fee would influence a customer to renew their service. This period is less than a year for residential customers and the term of the related contract for business services customers. Incremental costs to obtain a contract with a customer, such as commissions for our business customers, are now deferred and recognized over the contract term. Sales commissions related to our residential customers are expensed as incurred as the related period of benefit is less than a year.

The table below presents the effects these changes had on our Cable Communications segment revenue, operating costs and expenses, and depreciation and amortization expense as a result of the updated guidance for the prior year periods. Previously reported amounts are based on amounts previously presented in the segment information footnote.

	Three Months Ended September 30, 2017							Nine Months Ended September 30, 2017
(in millions)	Previously Reported		Effects of Adoption			As Adjusted		Previously Reported		Effects of Adoption			As Adjusted
Residential:
Video	$	5,825	$	(65	)	$	5,760	$	17,396	$	(190	)	$	17,206
High-speed Internet	3,709		233			3,942		10,994		688			11,682
Voice	840		173			1,013		2,559		522			3,081
Business services	1,575		54			1,629		4,596		161			4,757
Advertising	542		52			594		1,628		146			1,774
Other	712		(311		)	401		2,064		(918		)	1,146
Total Cable Communications revenue	$	13,203	$	136		$	13,339	$	39,237	$	409		$	39,646
Operating costs and expenses	$	7,957	$	166		$	8,123	$	23,473	$	490		$	23,963
Depreciation and amortization expense	$	2,049	$	(34	)	$	2,015	$	6,030	$	(102	)	$	5,928

NBCUniversal Segments

The adoption of the updated guidance impacted the timing of recognition for some of our revenue contracts, primarily for content licensing agreements. As a result of the adoption of the updated guidance, when the term of existing content licensing agreements is renewed or extended, revenue is not recognized until the date when the renewal or extension period begins. Under the prior guidance, revenue for the content licensing renewal period was recognized on the date that the renewal was agreed to contractually. This change resulted in delayed revenue recognition for content licensing renewals or extensions in our Cable Networks, Broadcast Television and Filmed Entertainment segments. This change also impacted the timing of the related amortization of our film and television costs and participations and residuals expenses. The adoption of the updated guidance did not have a material impact on the results of operations or financial position for the NBCUniversal segments.

Financial Assets and Financial Liabilities

In January 2016, the FASB updated the accounting guidance related to the recognition and measurement of financial assets and financial liabilities. The updated accounting guidance, among other things, requires that all nonconsolidated equity investments, except those accounted for under the equity method, be measured at fair value and the changes in fair value be recognized in net income. On January 1, 2018, we adopted the updated guidance prospectively along with a related clarifying update and as a result, we recorded an immaterial cumulative effect adjustment to retained earnings, accumulated other comprehensive income (loss) and investments. See Note 9 for further information.

Tax Reform

On December 22, 2017, new federal tax reform legislation was enacted in the United States (“2017 Tax Act”), resulting in significant changes from previous tax law. The new legislation reduced the federal corporate income tax rate to 21% from 35% effective January 1, 2018. In the fourth quarter of 2017, we recorded a net income tax benefit of approximately $12.7 billion on the date of enactment of the new legislation, primarily relating to a reduction of our net deferred tax liabilities as a result of the rate change. This amount also includes the reversal of our net deferred tax liabilities related to cumulative undistributed foreign earnings and deferred tax assets for related foreign tax credits, partially offset by the one-time deemed repatriation tax on undistributed foreign earnings and profits.

The adjustments to deferred tax assets and liabilities, and the liability related to the transition tax, are provisional amounts based on information available as of September 30, 2018. These amounts are subject to change as we obtain information necessary to complete the calculations. During the nine months ended September 30, 2018, we recorded immaterial adjustments to the provisional amounts related to the cumulative temporary differences and the one-time deemed repatriation tax on undistributed foreign earnings and profits. We expect to complete our analysis of the provisional items in the fourth quarter of 2018.

In February 2018, the FASB issued guidance that permits companies to reclassify disproportionate tax effects recorded in accumulated other comprehensive income as a result of the 2017 Tax Act to retained earnings. We adopted the guidance as of January 1, 2018 and, as a result, we recorded an immaterial cumulative effect adjustment to retained earnings and accumulated other comprehensive income (loss).

In February 2018, the Bipartisan Budget Act of 2018 was enacted. As part of this legislation, various tax provisions that had expired on December 31, 2016 were retroactively extended to December 31, 2017, including the statute permitting the immediate deduction for certain film and television production costs. We recorded an income tax benefit of $128 million in the first quarter of 2018 as a result of the enactment of this legislation.

Restricted Cash

In November 2016, the FASB updated the accounting guidance related to restricted cash. The new standard requires that the statement of cash flows present the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents, and a reconciliation of such total to amounts on the balance sheet. We adopted the updated guidance on January 1, 2018 and as required applied the retrospective transition method. The adoption did not have a material impact for any period presented.

Leases

In February 2016, the FASB updated the accounting guidance related to leases. The updated accounting guidance requires lessees to recognize a right-of-use asset and a lease liability on the balance sheet for all leases with the exception of short-term leases. The asset and liability are initially measured based on the present value of committed lease payments. For a lessee, the recognition, measurement and presentation of expenses and cash flows arising from a lease do not significantly change from previous guidance. For a lessor, the accounting applied is also largely unchanged from previous guidance. We will adopt the updated accounting guidance in the first quarter of 2019 and prior periods will not be adjusted. We are currently in the process of determining the impact that the updated accounting guidance will have on our consolidated financial statements.

NBCUniversal Media LLC [Member]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Recent Accounting Pronouncements and Tax Reform

Recent Accounting Pronouncements

Revenue Recognition

In May 2014, the Financial Accounting Standards Board (“FASB”) updated the accounting guidance related to revenue recognition. The updated accounting guidance provides a single, contract-based revenue recognition model to help improve financial reporting by providing clearer guidance on when an entity should recognize revenue and by reducing the number of standards to which an entity has to refer. The core principle of the new standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services.

We adopted the updated guidance on January 1, 2018 on a full retrospective basis, which required us to reflect the impact of the updated guidance for all periods presented.

The adoption of the new standard did not have a material impact on our consolidated results of operations or financial position for any period presented. The updated guidance also requires additional disclosures regarding the nature, timing and uncertainty of our revenue transactions (see Note 3).

The tables below present the effects on our condensed consolidated statement of income and balance sheet for the prior year periods presented.

Condensed Consolidated Statement of Income

	Three Months Ended September 30, 2017							Nine Months Ended September 30, 2017
(in millions)	Previously Reported		Effects of Adoption			As Adjusted		Previously Reported		Effects of Adoption			As Adjusted
Revenue	$	8,014	$	(38	)	$	7,976	$	24,213	$	(66	)	$	24,147
Total costs and expenses	$	5,909	$	(20	)	$	5,889	$	19,048	$	(53	)	$	18,995
Operating income	$	2,105	$	(18	)	$	2,087	$	5,165	$	(13	)	$	5,152
Net income attributable to NBCUniversal	$	1,825	$	(18	)	$	1,807	$	4,301	$	(13	)	$	4,288

Condensed Consolidated Balance Sheet

	December 31, 2017
(in millions)	Previously Reported		Effects of Adoption			As Adjusted
Total current assets	$	11,673	$	284		$	11,957
Film and television costs	$	7,071	$	11		$	7,082
Other noncurrent assets, net	$	1,872	$	(68	)	$	1,804
Total assets	$	71,073	$	227		$	71,300
Total current liabilities	$	9,602	$	330		$	9,932
Other noncurrent liabilities	$	4,109	$	44		$	4,153
Total equity	$	43,188	$	(147	)	$	43,041
Total liabilities and equity	$	71,073	$	227		$	71,300

The adoption of the updated guidance impacted the timing of recognition for some of our revenue contracts, primarily for content licensing agreements. As a result of the adoption of the updated guidance, when the term of existing content licensing agreements is renewed or extended, revenue is not recognized until the date when the renewal or extension period begins. Under the prior guidance, revenue for the content licensing renewal period was recognized on the date that the renewal was agreed to contractually. This change resulted in delayed revenue recognition for content licensing renewals or extensions in our Cable Networks, Broadcast Television and Filmed Entertainment segments. This change also impacted the timing of the related amortization of our film and television costs and participations and residuals expenses. The adoption of the updated guidance did not have a material impact on the results of operations or financial position for our reportable segments.

Financial Assets and Financial Liabilities

In January 2016, the FASB updated the accounting guidance related to the recognition and measurement of financial assets and financial liabilities. The updated accounting guidance, among other things, requires that all nonconsolidated equity investments, except those accounted for under the equity method, be measured at fair value and the changes in fair value be recognized in net income. On January 1, 2018, we adopted the updated guidance prospectively along with a related clarifying update and as a result, we recorded a $232 million cumulative effect adjustment to member’s capital and accumulated other comprehensive income (loss). See Note 8 for further information.

Restricted Cash

In November 2016, the FASB updated the accounting guidance related to restricted cash. The new standard requires that the statement of cash flows present the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents, and a reconciliation of such total to amounts on the balance sheet. We adopted the updated guidance on January 1, 2018 and as required applied the retrospective transition method. The adoption did not have a material impact for any period presented.

Leases

In February 2016, the FASB updated the accounting guidance related to leases. The updated accounting guidance requires lessees to recognize a right-of-use asset and a lease liability on the balance sheet for all leases with the exception of short-term leases. The asset and liability are initially measured based on the present value of committed lease payments. For a lessee, the recognition, measurement and presentation of expenses and cash flows arising from a lease do not significantly change from previous guidance. For a lessor, the accounting applied is also largely unchanged from previous guidance. We will adopt the updated accounting guidance in the first quarter of 2019 and prior periods will not be adjusted. We are currently in the process of determining the impact that the updated accounting guidance will have on our consolidated financial statements.

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Film and Television Costs

9 Months Ended

Sep. 30, 2018

Film And Television Cost [Line Items]

Film And Television Costs

Film and Television Costs

(in millions)	September 30, 2018		December 31, 2017
Film Costs:
Released, less amortization	$	1,573	$	1,734
Completed, not released	242		50
In production and in development	1,010		1,149
	2,825		2,933
Television Costs:
Released, less amortization	2,286		2,260
In production and in development	905		818
	3,191		3,078
Programming rights, less amortization	2,584		2,689
	8,600		8,700
Less: Current portion of programming rights	1,223		1,613
Film and television costs	$	7,377	$	7,087

NBCUniversal Media LLC [Member]

Film And Television Cost [Line Items]

Film And Television Costs

Film and Television Costs

(in millions)	September 30, 2018		December 31, 2017
Film Costs:
Released, less amortization	$	1,573	$	1,734
Completed, not released	242		50
In production and in development	1,010		1,149
	2,825		2,933
Television Costs:
Released, less amortization	2,286		2,260
In production and in development	905		818
	3,191		3,078
Programming rights, less amortization	2,566		2,677
	8,582		8,688
Less: Current portion of programming rights	1,213		1,606
Film and television costs	$	7,369	$	7,082

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Investments

9 Months Ended

Sep. 30, 2018

Investments [Line Items]

Investments

Investments

(in millions)	September 30, 2018		December 31, 2017
Equity method	$	4,163	$	3,546
Marketable equity securities	322		433
Nonmarketable equity securities	1,528		1,186
Other investments	1,798		1,785
Total investments	7,811		6,950
Less: Current investments	87		19
Noncurrent investments	$	7,724	$	6,931

Investment and Other Income (Loss), Net

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Equity in net income (losses) of investees, net	$	(76	)	$	(39	)	$	(56	)	$	12
Realized and unrealized gains (losses) on equity securities, net	(38		)	7			(50		)	—
Other income (loss), net	3			102			198			287
Investment and other income (loss), net	$	(111	)	$	70		$	92		$	299

Beginning January 1, 2018, in connection with our adoption of the updated accounting guidance related to the recognition and measurement of financial assets and financial liabilities (see Note 7), we updated the presentation and accounting policies for our investments previously classified as fair value and cost method investments. The investment categories presented in the table above are based on the new guidance and updated policies, where applicable, are presented below.

Equity Method

Atairos

In February 2018, we amended our agreement with Atairos, which primarily increases our commitment to fund Atairos from up to $4 billion to up to $5 billion in the aggregate at any one time, subject to certain offsets.

As of September 30, 2018 and December 31, 2017, we had an investment in Atairos of $2.9 billion and $2.4 billion, respectively. For the nine months ended September 30, 2018 and 2017, we made cash capital contributions to Atairos totaling $133 million and $994 million, respectively. Atairos follows investment company accounting and records its investments at their fair values each reporting period with the net gains or losses reflected in its statement of income. We recognize our share of Atairos’ income and losses in equity in net income (losses) of investees, net. For the three and nine months ended September 30, 2018, our share of Atairos’ income was $38 million and $224 million, respectively. For the three and nine months ended September 30, 2017, our share of Atairos’ income was $7 million and $106 million, respectively.

In April 2018, we sold a controlling interest in our arena management-related businesses to Atairos and received as consideration additional equity interests in Atairos. We account for our retained ownership in the businesses as an equity method investment. In connection with the sale of the businesses, we recognized a pretax gain of $200 million in other operating gains in the second quarter of 2018.

In July 2017, we sold a business to a company owned by Atairos and received as consideration an investment in that company, which we account for as an equity method investment. In connection with the sale of the business, we recognized a pretax gain of $105 million in other operating gains in the third quarter of 2017.

Hulu

As of September 30, 2018 and December 31, 2017, we had an investment in Hulu of $219 million and $249 million, respectively. For the nine months ended September 30, 2018 and 2017, we made cash capital contributions to Hulu totaling $341 million and $198 million, respectively. We recognize our proportionate share of Hulu’s income and losses in equity in net income (losses) of investees, net. For the three and nine months ended September 30, 2018, we recognized our proportionate share of Hulu’s losses of $132 million and $370 million, respectively. For the three and nine months ended September 30, 2017, we recognized our proportionate share of Hulu’s losses of $62 million and $168 million, respectively.

The Weather Channel

In March 2018, we sold our investment in The Weather Channel cable network and recognized a pretax gain of $64 million in other income (loss), net.

Marketable Equity Securities

We classify publicly traded investments with readily determinable fair values that are not accounted for under the equity method as marketable equity securities. Marketable equity securities are recorded at cost and adjusted to fair value at each reporting period. The changes in fair value between measurement dates are recorded in realized and unrealized gains (losses) on equity securities, net. The fair values of our marketable equity securities are based on Level 1 inputs that use quoted market prices.

Snap

In March 2017, we acquired an interest in Snap Inc. for $500 million as part of its initial public offering, which we have classified as a marketable equity security. Snap is a camera company whose primary product is Snapchat, a camera app that was created to help people communicate through short videos and images. As of September 30, 2018 and December 31, 2017, we had an investment in Snap of $249 million and $430 million, respectively. For the three and nine months ended September 30, 2018, we recognized unrealized losses of $135 million and $180 million, respectively, in realized and unrealized gains (losses) on equity securities, net related to our investment in Snap.

Nonmarketable Equity Securities

We classify investments without readily determinable fair values that are not accounted for under the equity method as nonmarketable equity securities. The accounting guidance requires nonmarketable equity securities to be recorded at cost and adjusted to fair value at each reporting period. However, the guidance allows for a measurement alternative, which is to record the investments at cost, less impairment, if any, and subsequently adjust for observable price changes of identical or similar investments of the same issuer. We apply this measurement alternative to a majority of our nonmarketable equity securities. When an observable event occurs, we estimate the fair values of our nonmarketable equity securities based on Level 2 inputs that are derived from observable price changes of similar securities adjusted for insignificant differences in rights and obligations. The changes in value are recorded in realized and unrealized gains (losses) on equity securities, net.

Other Investments

AirTouch

We hold two series of preferred stock of Verizon Americas, Inc., formerly known as AirTouch Communications, Inc. (“AirTouch”), a subsidiary of Verizon Communications Inc., which are redeemable in April 2020. As of both September 30, 2018 and December 31, 2017, we had an investment in AirTouch of $1.6 billion. We account for our investment in AirTouch as a held to maturity investment using the cost method. As of September 30, 2018, the estimated fair value of the AirTouch preferred stock and the estimated fair value of the associated liability related to the redeemable subsidiary preferred shares issued by one of our consolidated subsidiaries were each $1.7 billion. The estimated fair values are based on Level 2 inputs that use pricing models whose inputs are derived primarily from or corroborated by observable market data through correlation or other means for substantially the full term of the financial instrument.

NBCUniversal Media LLC [Member]

Investments [Line Items]

Investments

Investments

(in millions)	September 30, 2018		December 31, 2017
Equity method	$	660	$	690
Marketable equity securities	249		430
Nonmarketable equity securities	813		696
Total investments	$	1,722	$	1,816

Investment and Other Income (Loss), Net

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Equity in net income (losses) of investees, net	$	(119	)	$	(52	)	$	(306	)	$	(107	)
Realized and unrealized gains (losses) on equity securities, net	(91		)	—			(128		)	2
Other income (loss), net	5			26			57			63
Investment and other income (loss), net	$	(205	)	$	(26	)	$	(377	)	$	(42	)

Beginning January 1, 2018, in connection with our adoption of the updated accounting guidance related to the recognition and measurement of financial assets and financial liabilities (see Note 6), we updated the presentation and accounting policies for our investments previously classified as fair value and cost method investments. The investment categories presented in the table above are based on the new guidance and updated policies, where applicable, are presented below.

Equity Method

Hulu

As of September 30, 2018 and December 31, 2017, we had an investment in Hulu of $219 million and $249 million, respectively. For the nine months ended September 30, 2018 and 2017, we made cash capital contributions to Hulu totaling $341 million and $198 million, respectively. We recognize our proportionate share of Hulu’s income and losses in equity in net income (losses) of investees, net. For the three and nine months ended September 30, 2018, we recognized our proportionate share of Hulu’s losses of $132 million and $370 million, respectively. For the three and nine months ended September 30, 2017, we recognized our proportionate share of Hulu’s losses of $62 million and $168 million, respectively.

The Weather Channel

In March 2018, we sold our investment in The Weather Channel cable network and recognized a pretax gain of $64 million in other income (loss), net.

Marketable Equity Securities

We classify publicly traded investments with readily determinable fair values that are not accounted for under the equity method as marketable equity securities. Marketable equity securities are recorded at cost and adjusted to fair value at each reporting period. The changes in fair value between measurement dates are recorded in realized and unrealized gains (losses) on equity securities, net. The fair values of our marketable equity securities are based on Level 1 inputs that use quoted market prices.

Snap

In March 2017, Comcast acquired an interest in Snap Inc. as part of its initial public offering. On March 31, 2017, Comcast contributed its investment in Snap to us as an equity contribution of $662 million, which was recorded in our condensed consolidated statement of equity based on the fair value of the investment as of March 31, 2017. We have classified our investment as a marketable equity security. Snap is a camera company whose primary product is Snapchat, a camera app that was created to help people communicate through short videos and images. As of September 30, 2018 and December 31, 2017, we had an investment in Snap of $249 million and $430 million, respectively. For the three and nine months ended September 30, 2018, we recognized unrealized losses of $135 million and $180 million, respectively, in realized and unrealized gains (losses) on equity securities, net related to our investment in Snap.

Nonmarketable Equity Securities

We classify investments without readily determinable fair values that are not accounted for under the equity method as nonmarketable equity securities. The accounting guidance requires nonmarketable equity securities to be recorded at cost and adjusted to fair value at each reporting period. However, the guidance allows for a measurement alternative, which is to record the investments at cost, less impairment, if any, and subsequently adjust for observable price changes of identical or similar investments of the same issuer. We apply this measurement alternative toour nonmarketable equity securities. When an observable event occurs, we estimate the fair values of our nonmarketable equity securities based on Level 2 inputs that are derived from observable price changes of similar securities adjusted for insignificant differences in rights and obligations. The changes in value are recorded in realized and unrealized gains (losses) on equity securities, net.

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Supplemental Financial Information

9 Months Ended

Sep. 30, 2018

Supplemental Financial Information [Line Items]

Supplemental Financial Information

Supplemental Financial Information

Share-Based Compensation

Our share-based compensation plans consist primarily of awards of RSUs and stock options to certain employees and directors as part of our approach to long-term incentive compensation. Additionally, through our employee stock purchase plans, employees are able to purchase shares of our common stock at a discount through payroll deductions.

In March 2018, we granted 12.1 million RSUs and 41.0 million stock options related to our annual management awards. The weighted-average fair values associated with these grants were $35.94 per RSU and $7.15 per stock option.

Recognized Share-Based Compensation Expense

	Three Months Ended September 30				Nine Months Ended September 30
(in millions)	2018		2017		2018		2017
Restricted share units	$	94	$	99	$	279	$	284
Stock options	50		52		155		155
Employee stock purchase plans	7		8		24		25
Total	$	151	$	159	$	458	$	464

As of September 30, 2018, we had unrecognized pretax compensation expense of $914 million and $489 million related to nonvested RSUs and nonvested stock options, respectively.

Cash Payments for Interest and Income Taxes

	Nine Months Ended September 30
(in millions)	2018		2017
Interest	$	2,240	$	2,277
Income taxes	$	1,533	$	3,415

Noncash Investing and Financing Activities

During the nine months ended September 30, 2018:

• we acquired $2.1 billion of property and equipment and intangible assets that were accrued but unpaid

• we recorded a liability of $864 million for a quarterly cash dividend of $0.19 per common share to be paid in October2018

• we received noncash contributions from noncontrolling interests totaling $391 million related to Universal Beijing Resort (see Note 6)

Cash, Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the condensed consolidated balance sheet to the total of the amounts reported in our condensed consolidated statement of cash flows.

(in millions)	September 30, 2018		December 31, 2017
Cash and cash equivalents	$	10,616	$	3,428
Restricted cash included in other current assets	47		60
Restricted cash included in other noncurrent assets, net	3,959		83
Cash, cash equivalents and restricted cash, end of period	$	14,622	$	3,571

Accumulated Other Comprehensive Income (Loss)

(in millions)	September 30, 2018		September 30, 2017
Unrealized gains (losses) on marketable securities	$	2	$	(43	)
Deferred gains (losses) on cash flow hedges	28		(12		)
Unrecognized gains (losses) on employee benefit obligations	294		270
Cumulative translation adjustments	50		166
Accumulated other comprehensive income (loss), net of deferred taxes	$	374	$	381

NBCUniversal Media LLC [Member]

Supplemental Financial Information [Line Items]

Supplemental Financial Information

Supplemental Financial Information

Cash Payments for Interest and Income Taxes 

	Nine Months Ended September 30
(in millions)	2018		2017
Interest	$	253	$	340
Income taxes	$	373	$	213

Noncash Investing and Financing Activities

During the nine months ended September 30, 2018:

• we acquired $1.2 billion of property and equipment and intangible assets that were accrued but unpaid

• we received noncash contributions from noncontrolling interests totaling $391 million related to Universal Beijing Resort (see Note 5)

Cash, Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the condensed consolidated balance sheet to the total of the amounts reported in our condensed consolidated statement of cash flows.

(in millions)	September 30, 2018		December 31, 2017
Cash and cash equivalents	$	1,181	$	2,347
Restricted cash included in other noncurrent assets, net	20		30
Cash, cash equivalents and restricted cash, end of period	$	1,201	$	2,377

Accumulated Other Comprehensive Income (Loss)

(in millions)	September 30, 2018			September 30, 2017
Unrealized gains (losses) on marketable securities	$	—		$	(233	)
Deferred gains (losses) on cash flow hedges	5			(4		)
Unrecognized gains (losses) on employee benefit obligations	115			115
Cumulative translation adjustments	(22		)	93
Accumulated other comprehensive income (loss)	$	98		$	(29	)

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Related Party Transactions

9 Months Ended

Sep. 30, 2018

NBCUniversal Media LLC [Member]

Related Party Transaction [Line Items]

Related Party Transactions

Related Party Transactions

In the ordinary course of our business, we enter into transactions with Comcast.

We generate revenue from Comcast primarily from the distribution of our cable network programming, the fees received under retransmission consent agreements in our Broadcast Television segment and, to a lesser extent, the sale of advertising and our owned programming, and we incur expenses primarily related to advertising and various support services provided by Comcast to us.

Comcast is also the counterparty to one of our contractual obligations. As of September 30, 2018, the carrying value of the liability associated with this contractual obligation was $383 million.

The following tables present transactions with Comcast and its consolidated subsidiaries that are included in our condensed consolidated financial statements.

Condensed Consolidated Statement of Income

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Transactions with Comcast and Consolidated Subsidiaries
Revenue	$	506		$	463		$	1,580		$	1,382
Total costs and expenses	$	(59	)	$	(38	)	$	(162	)	$	(148	)
Interest expense and investment and other income (loss), net	$	(9	)	$	(20	)	$	(52	)	$	(67	)

Condensed Consolidated Balance Sheet

(in millions)	September 30, 2018		December 31, 2017
Transactions with Comcast and Consolidated Subsidiaries
Receivables, net	$	350	$	326
Note receivable from Comcast	$	1,522	$	—
Accounts payable and accrued expenses related to trade creditors	$	48	$	54
Accrued expenses and other current liabilities	$	20	$	50
Note payable to Comcast	$	41	$	1,831
Long-term debt	$	698	$	610
Other noncurrent liabilities	$	394	$	389

Share-Based Compensation

Comcast maintains share-based compensation plans that consist primarily of awards of restricted share units and stock options to certain employees and directors as part of its approach to long-term incentive compensation. Additionally, through its employee stock purchase plans, employees are able to purchase shares of Comcast common stock at a discount through payroll deductions. Certain of our employees participate in these plans and the expense associated with their participation is settled in cash with Comcast. For the three months ended September 30, 2018 and 2017, we recognized share-based compensation expense of $37 million and $38 million, respectively. For the nine months ended September 30, 2018 and 2017, we recognized share-based compensation expense of $115 million and $103 million, respectively.

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Commitments and Contingencies

9 Months Ended

Sep. 30, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments and Contingencies

Redeemable Subsidiary Preferred Stock

As of September 30, 2018, the fair value of the NBCUniversal Enterprise redeemable subsidiary preferred stock was $742 million. The estimated fair value is based on Level 2 inputs that use pricing models whose inputs are derived primarily from or corroborated by observable market data through correlation or other means for substantially the full term of the financial instrument.

Contingencies

We are a defendant in several unrelated lawsuits claiming infringement of various patents relating to various aspects of our businesses. In certain of these cases, other industry participants are also defendants, and also in certain of these cases, we expect that any potential liability would be in part or in whole the responsibility of our equipment and technology vendors under applicable contractual indemnification provisions. In addition, we are subject to other legal proceedings and claims that arise in the ordinary course of our business. While the amount of ultimate liability with respect to such actions is not expected to materially affect our results of operations, cash flows or financial position, any litigation resulting from any such legal proceedings or claims could be time-consuming and injure our reputation.

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Condensed Consolidating Financial Information

9 Months Ended

Sep. 30, 2018

Condensed Financial Information Disclosure [Abstract]

Condensed Consolidating Financial Information

Condensed Consolidating Financial Information

Comcast (“Comcast Parent”), Comcast Cable Communications, LLC (“CCCL Parent”), and NBCUniversal (“NBCUniversal Media Parent”) have fully and unconditionally guaranteed each other’s debt securities, including the Comcast revolving credit facility.

Comcast Parent and CCCL Parent also fully and unconditionally guarantee NBCUniversal Enterprise’s $3 billion aggregate principal amount of senior notes and $1.6 billion revolving credit facility and commercial paper program. NBCUniversal Media Parent does not guarantee the NBCUniversal Enterprise senior notes, revolving credit facility or commercial paper program.

Comcast Parent provides an unconditional guarantee of the Universal Studios Japan $3.5 billion term loans with a final maturity of March 2022. Comcast Parent also provides an unconditional subordinated guarantee of the $185 million principal amount currently outstanding of Comcast Holdings’ ZONES due October 2029. Neither CCCL Parent nor NBCUniversal Media Parent guarantee the Comcast Holdings’ ZONES due October 2029. None of Comcast Parent, CCCL Parent nor NBCUniversal Media Parent guarantee the $62 million principal amount currently outstanding of Comcast Holdings’ ZONES due November 2029 or the Universal Beijing Resort term loans.

Condensed Consolidating Statement of Income

For theThree Months Ended September 30, 2018

(in millions)	Comcast Parent			Comcast Holdings			CCCL Parent			NBCUniversal Media Parent			Non- Guarantor Subsidiaries			Elimination and Consolidation Adjustments			Consolidated Comcast Corporation
Revenue:
Service revenue	$	—		$	—		$	—		$	—		$	22,135		$	—		$	22,135
Management fee revenue	299			—			294			—			—			(593		)	—
Total revenue	299			—			294			—			22,135			(593		)	22,135
Costs and Expenses:
Programming and production	—			—			—			—			6,711			—			6,711
Other operating and administrative	208			—			294			230			6,305			(593		)	6,444
Advertising, marketing and promotion	—			—			—			—			1,667			—			1,667
Depreciation	12			—			—			—			2,026			—			2,038
Amortization	1			—			—			—			579			—			580
Other operating gains	—			—			—			—			(141		)	—			(141		)
Total cost and expenses	221			—			294			230			17,147			(593		)	17,299
Operating income (loss)	78			—			—			(230		)	4,988			—			4,836
Interest expense	(600		)	(3		)	(48		)	(113		)	(66		)	—			(830		)
Investment and other income (loss), net	3,299			3,380			3,007			1,576			1,065			(12,438		)	(111		)
Income (loss) before income taxes	2,777			3,377			2,959			1,233			5,987			(12,438		)	3,895
Income tax (expense) benefit	109			(1		)	10			(2		)	(1,115		)	—			(999		)
Net income (loss)	2,886			3,376			2,969			1,231			4,872			(12,438		)	2,896
Less: Net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock	—			—			—			—			10			—			10
Net income (loss) attributable to Comcast Corporation	$	2,886		$	3,376		$	2,969		$	1,231		$	4,862		$	(12,438	)	$	2,886
Comprehensive income (loss) attributable to Comcast Corporation	$	2,799		$	3,349		$	2,974		$	1,112		$	4,663		$	(12,098	)	$	2,799

Condensed Consolidating Statement of Income

For the Three Months Ended September 30, 2017

(in millions)	Comcast Parent			Comcast Holdings			CCCL Parent			NBCUniversal Media Parent			Non- Guarantor Subsidiaries			Elimination and Consolidation Adjustments			Consolidated Comcast Corporation
Revenue:
Service revenue	$	—		$	—		$	—		$	—		$	21,081		$	—		$	21,081
Management fee revenue	285			—			280			—			—			(565		)	—
Total revenue	285			—			280			—			21,081			(565		)	21,081
Costs and Expenses:
Programming and production	—			—			—			—			6,059			—			6,059
Other operating and administrative	183			—			280			277			6,360			(565		)	6,535
Advertising, marketing and promotion	—			—			—			—			1,604			—			1,604
Depreciation	7			—			—			—			1,984			—			1,991
Amortization	1			—			—			—			554			—			555
Other operating gains	—			—			—			—			(442		)	—			(442		)
Total cost and expenses	191			—			280			277			16,119			(565		)	16,302
Operating income (loss)	94			—			—			(277		)	4,962			—			4,779
Interest expense	(544		)	(3		)	(48		)	(116		)	(55		)	—			(766		)
Investment and other income (loss), net	2,934			2,513			1,995			2,206			1,845			(11,423		)	70
Income (loss) before income taxes	2,484			2,510			1,947			1,813			6,752			(11,423		)	4,083
Income tax (expense) benefit	158			(10		)	17			(6		)	(1,568		)	—			(1,409		)
Net income (loss)	2,642			2,500			1,964			1,807			5,184			(11,423		)	2,674
Less: Net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock	—			—			—			—			32			—			32
Net income (loss) attributable to Comcast Corporation	$	2,642		$	2,500		$	1,964		$	1,807		$	5,152		$	(11,423	)	$	2,642
Comprehensive income (loss) attributable to Comcast Corporation	$	2,595		$	2,484		$	1,968		$	1,722		$	5,024		$	(11,198	)	$	2,595

Condensed Consolidating Statement of Income

For the Nine Months Ended September 30, 2018

(in millions)	Comcast Parent			Comcast Holdings			CCCL Parent			NBCUniversal Media Parent			Non- Guarantor Subsidiaries			Elimination and Consolidation Adjustments			Consolidated Comcast Corporation
Revenue:
Service revenue	$	—		$	—		$	—		$	—		$	66,661		$	—		$	66,661
Management fee revenue	889			—			873			—			—			(1,762		)	—
Total revenue	889			—			873			—			66,661			(1,762		)	66,661
Costs and Expenses:
Programming and production	—			—			—			—			20,440			—			20,440
Other operating and administrative	626			—			873			772			18,814			(1,762		)	19,323
Advertising, marketing and promotion	—			—			—			—			4,924			—			4,924
Depreciation	34			—			—			—			6,036			—			6,070
Amortization	4			—			—			—			1,746			—			1,750
Other operating gains	—			—			—			—			(341		)	—			(341		)
Total cost and expenses	664			—			873			772			51,619			(1,762		)	52,166
Operating income (loss)	225			—			—			(772		)	15,042			—			14,495
Interest expense	(1,739		)	(9		)	(143		)	(332		)	(190		)	—			(2,413		)
Investment and other income (loss), net	10,416			10,279			8,832			5,107			3,977			(38,519		)	92
Income (loss) before income taxes	8,902			10,270			8,689			4,003			18,829			(38,519		)	12,174
Income tax (expense) benefit	318			—			29			(12		)	(3,229		)	—			(2,894		)
Net income (loss)	9,220			10,270			8,718			3,991			15,600			(38,519		)	9,280
Less: Net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock	—			—			—			—			60			—			60
Net income (loss) attributable to Comcast Corporation	$	9,220		$	10,270		$	8,718		$	3,991		$	15,540		$	(38,519	)	$	9,220
Comprehensive income (loss) attributable to Comcast Corporation	$	9,139		$	10,245		$	8,723		$	3,877		$	15,357		$	(38,202	)	$	9,139

Condensed Consolidating Statement of Income

For the Nine Months Ended September 30, 2017

(in millions)	Comcast Parent			Comcast Holdings			CCCL Parent			NBCUniversal Media Parent			Non- Guarantor Subsidiaries			Elimination and Consolidation Adjustments			Consolidated Comcast Corporation
Revenue:
Service revenue	$	—		$	—		$	—		$	—		$	62,954		$	—		$	62,954
Management fee revenue	841			—			827			—			—			(1,668		)	—
Total revenue	841			—			827			—			62,954			(1,668		)	62,954
Costs and Expenses:
Programming and production	—			—			—			—			18,450			—			18,450
Other operating and administrative	553			—			827			844			18,086			(1,668		)	18,642
Advertising, marketing and promotion	—			—			—			—			4,894			—			4,894
Depreciation	21			—			—			—			5,855			—			5,876
Amortization	4			—			—			—			1,641			—			1,645
Other operating gains	—			—			—			—			(442		)	—			(442		)
Total costs and expenses	578			—			827			844			48,484			(1,668		)	49,065
Operating income (loss)	263			—			—			(844		)	14,470			—			13,889
Interest expense	(1,592		)	(9		)	(159		)	(344		)	(175		)	—			(2,279		)
Investment and other income (loss), net	8,600			7,841			6,628			5,493			4,476			(32,739		)	299
Income (loss) before income taxes	7,271			7,832			6,469			4,305			18,771			(32,739		)	11,909
Income tax (expense) benefit	465			(26		)	56			(17		)	(4,516		)	—			(4,038		)
Net income (loss)	7,736			7,806			6,525			4,288			14,255			(32,739		)	7,871
Less: Net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock	—			—			—			—			135			—			135
Net income (loss) attributable to Comcast Corporation	$	7,736		$	7,806		$	6,525		$	4,288		$	14,120		$	(32,739	)	$	7,736
Comprehensive income (loss) attributable to Comcast Corporation	$	7,825		$	7,804		$	6,531		$	4,253		$	13,993		$	(32,581	)	$	7,825

Condensed Consolidating Statement of Cash Flows

For the Nine Months Ended September 30, 2018

(in millions)	Comcast Parent			Comcast Holdings			CCCL Parent			NBCUniversal Media Parent			Non- Guarantor Subsidiaries			Elimination and Consolidation Adjustments		Consolidated Comcast Corporation
Net cash provided by (used in) operating activities	$	(1,461	)	$	137		$	(206	)	$	(1,047	)	$	21,084		$	—	$	18,507
Investing Activities:
Net transactions with affiliates	(1,087		)	(586		)	206			800			667			—		—
Capital expenditures	(15		)	—			—			—			(6,592		)	—		(6,607		)
Cash paid for intangible assets	(3		)	—			—			—			(1,372		)	—		(1,375		)
Acquisitions and construction of real estate properties	(94		)	—			—			—			(35		)	—		(129		)
Construction of Universal Beijing Resort	—			—			—			—			(257		)	—		(257		)
Acquisitions, net of cash acquired	—			—			—			—			(88		)	—		(88		)
Proceeds from sales of investments	—			—			—			67			60			—		127
Purchases of investments	(118		)	—			—			(50		)	(672		)	—		(840		)
Other	—			449			—			—			130			—		579
Net cash provided by (used in) investing activities	(1,317		)	(137		)	206			817			(8,159		)	—		(8,590		)
Financing Activities:
Proceeds from (repayments of) short-term borrowings, net	2,117			—			—			—			792			—		2,909
Proceeds from borrowings	9,386			—			—			—			464			—		9,850
Repurchases and repayments of debt	(1,900		)	—			—			(3		)	(2,502		)	—		(4,405		)
Repurchases of common stock under repurchase program and employee plans	(4,282		)	—			—			—			—			—		(4,282		)
Dividends paid	(2,487		)	—			—			—			—			—		(2,487		)
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock	—			—			—			—			(209		)	—		(209		)
Other	(56		)	—			—			—			(186		)	—		(242		)
Net cash provided by (used in) financing activities	2,778			—			—			(3		)	(1,641		)	—		1,134
Increase (decrease) in cash, cash equivalents and restricted cash	—			—			—			(233		)	11,284			—		11,051
Cash, cash equivalents and restricted cash, beginning of period	—			—			—			496			3,075			—		3,571
Cash, cash equivalents and restricted cash, end of period	$	—		$	—		$	—		$	263		$	14,359		$	—	$	14,622

Condensed Consolidating Statement of Cash Flows

For the Nine Months Ended September 30, 2017

(in millions)	Comcast Parent			Comcast Holdings			CCCL Parent			NBCUniversal Media Parent			Non- Guarantor Subsidiaries			Elimination and Consolidation Adjustments		Consolidated Comcast Corporation
Net cash provided by (used in) operating activities	$	(931	)	$	91		$	(233	)	$	(1,055	)	$	17,985		$	—	$	15,857
Investing Activities:
Net transactions with affiliates	4,216			(91		)	818			833			(5,776		)	—		—
Capital expenditures	(6		)	—			—			—			(6,833		)	—		(6,839		)
Cash paid for intangible assets	(2		)	—			—			—			(1,134		)	—		(1,136		)
Acquisitions and construction of real estate properties	(190		)	—			—			—			(135		)	—		(325		)
Construction of Universal Beijing Resort	—			—			—			—			(47		)	—		(47		)
Acquisitions, net of cash acquired	—			—			—			—			(429		)	—		(429		)
Proceeds from sales of investments	—			—			—			10			110			—		120
Purchases of investments	(56		)	—			(35		)	(57		)	(1,916		)	—		(2,064		)
Other	101			—			—			49			647			—		797
Net cash provided by (used in) investing activities	4,063			(91		)	783			835			(15,513		)	—		(9,923		)
Financing Activities:
Proceeds from (repayments of) short-term borrowings, net	(1,739		)	—			—			—			(1,068		)	—		(2,807		)
Proceeds from borrowings	5,997			—			—			—			5,463			—		11,460
Repurchases and repayments of debt	(1,000		)	—			(550		)	(3		)	(3,468		)	—		(5,021		)
Repurchases of common stock under repurchase program and employee plans	(4,212		)	—			—			—			—			—		(4,212		)
Dividends paid	(2,147		)	—			—			—			—			—		(2,147		)
Purchase of Universal Studios Japan noncontrolling interests	—			—			—			—			(2,299		)	—		(2,299		)
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock	—			—			—			—			(198		)	—		(198		)
Other	(31		)	—			—			—			134			—		103
Net cash provided by (used in) financing activities	(3,132		)	—			(550		)	(3		)	(1,436		)	—		(5,121		)
Increase (decrease) in cash, cash equivalents and restricted cash	—			—			—			(223		)	1,036			—		813
Cash, cash equivalents and restricted cash, beginning of period	—			—			—			482			2,933			—		3,415
Cash, cash equivalents and restricted cash, end of period	$	—		$	—		$	—		$	259		$	3,969		$	—	$	4,228

Condensed Consolidating Balance Sheet

September 30, 2018

(in millions)	Comcast Parent		Comcast Holdings		CCCL Parent		NBCUniversal Media Parent		Non- Guarantor Subsidiaries		Elimination and Consolidation Adjustments			Consolidated Comcast Corporation
Assets
Cash and cash equivalents	$	—	$	—	$	—	$	263	$	10,353	$	—		$	10,616
Receivables, net	—		—		—		—		8,983		—			8,983
Programming rights	—		—		—		—		1,223		—			1,223
Other current assets	58		8		—		34		2,284		—			2,384
Total current assets	58		8		—		297		22,843		—			23,206
Film and television costs	—		—		—		—		7,377		—			7,377
Investments	267		11		122		790		6,534		—			7,724
Investments in and amounts due from subsidiaries eliminated upon consolidation	129,360		146,297		132,562		53,078		103,526		(564,823		)	—
Property and equipment, net	649		—		—		—		39,206		—			39,855
Franchise rights	—		—		—		—		59,365		—			59,365
Goodwill	—		—		—		—		36,703		—			36,703
Other intangible assets, net	11		—		—		—		18,638		—			18,649
Other noncurrent assets, net	782		230		—		95		6,884		(235		)	7,756
Total assets	$	131,127	$	146,546	$	132,684	$	54,260	$	301,076	$	(565,058	)	$	200,635
Liabilities and Equity
Accounts payable and accrued expenses related to trade creditors	$	13	$	—	$	—	$	—	$	7,023	$	—		$	7,036
Accrued participations and residuals	—		—		—		—		1,809		—			1,809
Deferred revenue	—		—		—		—		1,633		—			1,633
Accrued expenses and other current liabilities	1,852		150		231		346		3,397		—			5,976
Current portion of long-term debt	699		—		—		4		2,470		—			3,173
Total current liabilities	2,564		150		231		350		16,332		—			19,627
Long-term debt, less current portion	54,120		144		2,100		7,748		5,599		—			69,711
Deferred income taxes	—		330		—		68		25,070		(301		)	25,167
Other noncurrent liabilities	2,920		—		—		1,225		8,257		66			12,468
Redeemable noncontrolling interests and redeemable subsidiary preferred stock	—		—		—		—		1,317		—			1,317
Equity:
Common stock	54		—		—		—		—		—			54
Other shareholders’ equity	71,469		145,922		130,353		44,869		243,679		(564,823		)	71,469
Total Comcast Corporation shareholders’ equity	71,523		145,922		130,353		44,869		243,679		(564,823		)	71,523
Noncontrolling interests	—		—		—		—		822		—			822
Total equity	71,523		145,922		130,353		44,869		244,501		(564,823		)	72,345
Total liabilities and equity	$	131,127	$	146,546	$	132,684	$	54,260	$	301,076	$	(565,058	)	$	200,635

Condensed Consolidating Balance Sheet

December 31, 2017

(in millions)	Comcast Parent		Comcast Holdings		CCCL Parent		NBCUniversal Media Parent		Non- Guarantor Subsidiaries		Elimination and Consolidation Adjustments			Consolidated Comcast Corporation
Assets
Cash and cash equivalents	$	—	$	—	$	—	$	496	$	2,932	$	—		$	3,428
Receivables, net	—		—		—		—		8,834		—			8,834
Programming rights	—		—		—		—		1,613		—			1,613
Other current assets	60		—		7		25		2,376		—			2,468
Total current assets	60		—		7		521		15,755		—			16,343
Film and television costs	—		—		—		—		7,087		—			7,087
Investments	146		21		108		693		5,963		—			6,931
Investments in and amounts due from subsidiaries eliminated upon consolidation	117,164		142,519		139,528		50,102		113,332		(562,645		)	—
Property and equipment, net	551		—		—		—		37,919		—			38,470
Franchise rights	—		—		—		—		59,364		—			59,364
Goodwill	—		—		—		—		36,780		—			36,780
Other intangible assets, net	12		—		—		—		18,121		—			18,133
Other noncurrent assets, net	435		708		—		88		3,437		(314		)	4,354
Total assets	$	118,368	$	143,248	$	139,643	$	51,404	$	297,758	$	(562,959	)	$	187,462
Liabilities and Equity
Accounts payable and accrued expenses related to trade creditors	$	16	$	—	$	—	$	—	$	6,892	$	—		$	6,908
Accrued participations and residuals	—		—		—		—		1,644		—			1,644
Deferred revenue	—		—		—		—		1,687		—			1,687
Accrued expenses and other current liabilities	1,888		92		333		326		3,981		—			6,620
Current portion of long-term debt	2,810		—		—		4		2,320		—			5,134
Total current liabilities	4,714		92		333		330		16,524		—			21,993
Long-term debt, less current portion	42,428		140		2,100		7,751		7,003		—			59,422
Deferred income taxes	—		285		—		67		24,250		(343		)	24,259
Other noncurrent liabilities	2,610		—		—		1,128		7,205		29			10,972
Redeemable noncontrolling interests and redeemable subsidiary preferred stock	—		—		—		—		1,357		—			1,357
Equity:
Common stock	55		—		—		—		—		—			55
Other shareholders’ equity	68,561		142,731		137,210		42,128		240,576		(562,645		)	68,561
Total Comcast Corporation shareholders’ equity	68,616		142,731		137,210		42,128		240,576		(562,645		)	68,616
Noncontrolling interests	—		—		—		—		843		—			843
Total equity	68,616		142,731		137,210		42,128		241,419		(562,645		)	69,459
Total liabilities and equity	$	118,368	$	143,248	$	139,643	$	51,404	$	297,758	$	(562,959	)	$	187,462

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Recent Accounting Pronouncements and Tax Reform (Policies)

9 Months Ended

Sep. 30, 2018

Accounting Policies [Line Items]

Basis of Presentation

We have prepared these unaudited condensed consolidated financial statements based on SEC rules that permit reduced disclosure for interim periods. These financial statements include all adjustments that are necessary for a fair presentation of our consolidated results of operations, cash flows and financial condition for the periods shown, including normal, recurring accruals and other items. The consolidated results of operations for the interim periods presented are not necessarily indicative of results for the full year.

The year-end condensed consolidated balance sheet was derived from audited financial statements but does not include all disclosures required by generally accepted accounting principles in the United States (“GAAP”). For a more complete discussion of our accounting policies and certain other information, refer to our consolidated financial statements included in our 2017 Annual Report on Form 10-K and the footnotes within this Form 10-Q.

Revenue Recognition

Cable Communications Segment

Residential

Our Cable Communications segment generates revenue from residential customers subscribing to our video, high-speed Internet, voice, and security and automation services, which we market individually and as bundled services at a discounted rate in the United States. Revenue from residential customers that purchase bundled services at a discounted rate is allocated between the separate services based on the respective stand-alone selling prices. The stand-alone selling prices are determined based on the current prices at which we separately sell the cable services. Significant judgment is used to determine performance obligations that should be accounted for separately and the allocation of revenue when services are combined in a bundle. Revenue related to our security and automation services is reported in other revenue.

We recognize revenue from residential cable services as the services are provided on a monthly basis. Subscription rates and related charges vary according to the services and features customers receive. Customers are typically billed in advance and pay on a monthly basis. Installation fees are deferred and recognized as revenue over the period of benefit to the customer, which is less than a year for residential customers. While a portion of our residential customers are subject to contracts for their cable services, which are typically 2 years in length, based on our evaluation of the terms of these contracts, we recognize revenue for these cable services on a basis that is consistent with our customers that are not subject to contracts. Our cable services generally involve customer premise equipment, such as set-top boxes, cable modems and wireless gateways. The timing and pattern of recognition for customer premise equipment revenue are consistent with those of our residential cable services. Sales commissions related to our residential customers are expensed as incurred, as the related period of benefit is less than a year.

Under the terms of our cable franchise agreements, we are generally required to pay the cable franchising authority an amount based on our gross video revenue. We generally pass these and other similar fees through to our cable services customers and classify these fees in the respective cable service revenue, with the corresponding costs included in other operating and administrative expenses.

Business Services

Our Cable Communications segment generates revenue from business customers subscribing to a variety of products and services. Our small business services offerings primarily include high-speed Internet services, as well as voice and video services, similar to those that we provide to our residential customers, and also include cloud-based solutions that provide file sharing, online backup and web conferencing, among other features. We also offer Ethernet network services that connect multiple locations and provide higher downstream and upstream speed options to medium-sized customers and larger enterprises, as well as advanced voice services. In addition, we provide cellular backhaul services to mobile network operators to help these customers manage their network bandwidth.

Recently, we have expanded our enterprise service offerings to include a software-defined networking product and our managed solutions business to offer enterprise customers support related to Wi-Fi networks, router management, network security, business continuity risks and other services. We primarily offer our enterprise service offerings to Fortune 1000 companies and other large enterprises with multiple locations both within and outside of our cable distribution footprint where we have agreements with other companies to use their networks to provide coverage.

We recognize revenue from business services as the services are provided on a monthly basis. Substantially all of our business customers are initially under contracts, with terms typically ranging from 2 years for small and medium-sized businesses to up to 5 years for larger enterprises. At any given time, the amount of future revenue to be earned related to fixed pricing under existing agreements is equal to approximately half of our annual business services revenue, of which the substantial majority will be recognized within 2 years. Customers with contracts may only discontinue service in accordance with the terms of their contracts. We receive payments from business customers based on a billing schedule established in our contracts, which is typically on a monthly basis. Installation revenue related to our business services customers and sales commissions are generally deferred and recognized over the respective contract terms.

Advertising

Our Cable Communications segment generates revenue from the sale of advertising and from our advanced advertising business. As part of our distribution agreements with cable networks, we generally receive an allocation of scheduled advertising time on cable networks that we sell to local, regional and national advertisers. In most cases, the available advertising units are sold by our sales force. We also represent the advertising sales efforts of other multichannel video providers in some markets. Since we are acting as the principal in these arrangements, we record the advertising that is sold in advertising revenue and the fees paid to multichannel video providers in other operating and administrative expenses. In some cases, we work with representation firms as an extension of our sales force to sell a portion of the advertising units allocated to us and record the revenue net of agency commissions. In addition, we generate revenue from the sale of advertising online and on our On Demand service. We enter into advertising arrangements with customers and have determined that a contract exists once all terms and conditions are agreed upon, typically when the number of advertising units is specifically identified and the timing of airing is scheduled. Advertisements are generally aired or viewed within one year once all terms and conditions are agreed upon. Advertising revenue is recognized in the period in which advertisements are aired or viewed. Payment terms vary by contract, although terms generally require payment within 30 to 60 days from when advertisements are aired or viewed. Our advanced advertising business provide technology, tools, marketplace solutions and data-driven insights to various customers in the media industry to more effectively engage with their targeted audiences. Revenue earned from our advanced advertising business is recognized when services are provided.

NBCUniversal Segments

Distribution

Our Cable Networks segment generates distribution revenue from the distribution of our cable network programming to traditional and virtual multichannel video providers. Our Broadcast Television segment generates distribution revenue from the fees received under retransmission consent agreements and associated fees received from NBC-affiliated local broadcast television stations.

Distribution revenue is recognized as programming is provided on a monthly basis, generally under multiyear agreements. Monthly fees received under distribution agreements with multichannel video providers are generally based on the number of subscribers. Payment terms and conditions vary by contract type, although terms generally include payment within 30 to 60 days.

Advertising

Our Cable Networks and Broadcast Television segments generate advertising revenue from the sale of advertising on our cable and broadcast networks, our owned local broadcast television stations, and various digital properties.

We enter into advertising arrangements with customers and have determined that a contract exists once all terms and conditions are agreed upon, typically when the number of advertising units is specifically identified and the timing of airing is scheduled. Advertisements are generally aired or viewed within one year once all terms are agreed upon. Advertising revenue is recognized, net of agency commissions, in the period in which advertisements are aired or viewed and payment occurs thereafter, generally within 30 days. In some instances, we guarantee audience ratings for the advertisements. To the extent there is a shortfall in contracts where the ratings were guaranteed, a portion of the revenue is deferred until the shortfall is settled, typically by providing additional advertising units generally within one year of the original airing.

Theatrical

Our Filmed Entertainment segment theatrical revenue is generated from the worldwide theatrical release of our produced and acquired films for exhibition in movie theaters and is affected by the timing, nature and number of films released in movie theaters and their acceptance by audiences. Theatrical revenue is also affected by the number of exhibition screens, ticket prices, the percentage of ticket sale retention by the exhibitors and the popularity of competing films at the time our films are released. We recognize theatrical revenue as the films are viewed and exhibited in theaters and payment generally occurs within 60 days after exhibition.

Content Licensing

Our Cable Networks, Broadcast Television and Filmed Entertainment segments generate revenue from the licensing of our owned film and television content in the United States and internationally to cable, broadcast and premium networks and subscription video on demand services. Our content licensing agreements generally include fixed pricing and span multiple years. For example, following a film’s theatrical release, our Filmed Entertainment segment may license the exhibition rights of a film to different customers over multiple successive distribution windows.

We recognize revenue when the content is delivered and available for use by the licensee. When the term of an existing agreement is renewed or extended, we recognize revenue at the later of when the content is available or when the renewal or extension period begins. Payment terms and conditions vary by contract type, although payments are generally collected over the license term. The amount of future revenue to be earned related to fixed pricing under existing agreements primarily relates to our Filmed Entertainment segment, which at any given time equals approximately 1 to 2 years of our annual Filmed Entertainment content licensing revenue. The substantial majority of this revenue will be recognized within 2 years. This amount may fluctuate from period to period depending on the timing of the release and the availability of content under existing agreements and may not represent the total content licensing revenue expected to be recognized as it does not include revenue from future agreements or from variable pricing or optional purchases under existing agreements.

For our content licensing agreements that include variable pricing, such as pricing based on the number of subscribers to a subscription video on demand service sold by our customers, we generally recognize revenue as our customers sell to their subscribers.

Home Entertainment

Our Filmed Entertainment segment generates revenue from the sale of our produced and acquired films on standard-definition digital video discs and Blu-ray discs (together, “DVDs”) and through digital distribution services. Our Cable Networks and Broadcast Television networks also generate revenue from the sale of owned programming on DVDs and through digital distribution services, which is reported in other revenue. We recognize revenue from DVD sales, net of estimated returns and customer incentives, on the date that DVDs are delivered to and made available for sale by retailers. Payment terms generally include payment within 60 to 90 days from delivery to the retailer.

Theme Parks

Our Theme Parks segment generates revenue primarily from ticket sales and guest spending at our Universal theme parks in Orlando, Florida; Hollywood, California; and Osaka, Japan. Guest spending includes in-park spending on food, beverages and merchandise. We recognize revenue from theme park ticket sales when the tickets are used, generally within a year from the date of purchase. For annual passes, we generally recognize revenue on a straight-line basis over the period the pass is available to be used. We recognize revenue from guest spending at the point of sale.

Recent Accounting Pronouncements

Revenue Recognition

In May 2014, the Financial Accounting Standards Board (“FASB”) updated the accounting guidance related to revenue recognition. The updated accounting guidance provides a single, contract-based revenue recognition model to help improve financial reporting by providing clearer guidance on when an entity should recognize revenue and by reducing the number of standards to which an entity has to refer. The core principle of the new standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services.

We adopted the updated guidance on January 1, 2018 on a full retrospective basis, which required us to reflect the impact of the updated guidance for all periods presented. Upon adoption, we also implemented changes in our presentation of certain revenues and expenses, primarily in our Cable Communications segment.

The adoption of the new standard did not have a material impact on our consolidated results of operations or financial position for any period presented. The updated guidance also requires additional disclosures regarding the nature, timing and uncertainty of our revenue transactions (see Note 3).

The tables below present the effects on our condensed consolidated statement of income and balance sheet for the prior year periods presented.

Condensed Consolidated Statement of Income

	Three Months Ended September 30, 2017							Nine Months Ended September 30, 2017
(in millions)	Previously Reported		Effects of Adoption			As Adjusted		Previously Reported		Effects of Adoption		As Adjusted
Revenue	$	20,983	$	98		$	21,081	$	62,611	$	343	$	62,954
Total costs and expenses	$	16,191	$	111		$	16,302	$	48,731	$	334	$	49,065
Operating income	$	4,792	$	(13	)	$	4,779	$	13,880	$	9	$	13,889
Net income attributable to Comcast Corporation	$	2,650	$	(8	)	$	2,642	$	7,729	$	7	$	7,736

Condensed Consolidated Balance Sheet

	December 31, 2017
(in millions)	Previously Reported		Effects of Adoption			As Adjusted
Total current assets	$	16,060	$	283		$	16,343
Film and television costs	$	7,076	$	11		$	7,087
Other intangible assets, net	$	18,779	$	(646	)	$	18,133
Other noncurrent assets, net	$	3,489	$	865		$	4,354
Total assets	$	186,949	$	513		$	187,462
Total current liabilities	$	21,561	$	432		$	21,993
Deferred income taxes	$	24,256	$	3		$	24,259
Other noncurrent liabilities	$	10,904	$	68		$	10,972
Total equity	$	69,449	$	10		$	69,459
Total liabilities and equity	$	186,949	$	513		$	187,462

Cable Communications

A summary of the changes implemented for the Cable Communications segment is presented below.

Changes to Presentation of Revenue and Related Costs

• Revenue from our residential video services decreased with corresponding increases to high-speed Internet and voice revenue due to a change in the allocation of revenue among our cable services included in a bundle that our residential customers purchase at a discount.

• Revenue from franchise and other regulatory fees, which was previously presented in other revenue, is now presented with the corresponding cable services. This resulted in increases to video, voice and business services revenue.

• Residential customer late fees are now presented in other revenue. These fees were previously presented as a reduction to other operating costs and expenses.

• Certain costs, including costs related to the fulfillment of contracts with customers, are now presented as other assets and the related costs are recognized over time in operating costs and expenses, which are comprised of total costs and expenses, excluding depreciation and amortization expense and other operating gains. These amounts were previously presented as intangible assets, and the expenses were previously presented in amortization expense. The payments related to these assets are now presented in net cash provided by operating activities rather than in cash paid for intangible assets in our consolidated statement of cash flows.

Changes to the Timing of Recognition of Revenue and Related Costs

• Installation revenue and commission expense are now recognized as revenue and operating costs and expenses, respectively, over a period of time rather than recognized immediately as they were previously. We recorded a deferred revenue liability related to upfront installation fees that are not distinct services, which required us to allocate the installation fees to the respective service. The installation fees are generally recognized as revenue over the period that the fee would influence a customer to renew their service. This period is less than a year for residential customers and the term of the related contract for business services customers. Incremental costs to obtain a contract with a customer, such as commissions for our business customers, are now deferred and recognized over the contract term. Sales commissions related to our residential customers are expensed as incurred as the related period of benefit is less than a year.

The table below presents the effects these changes had on our Cable Communications segment revenue, operating costs and expenses, and depreciation and amortization expense as a result of the updated guidance for the prior year periods. Previously reported amounts are based on amounts previously presented in the segment information footnote.

	Three Months Ended September 30, 2017							Nine Months Ended September 30, 2017
(in millions)	Previously Reported		Effects of Adoption			As Adjusted		Previously Reported		Effects of Adoption			As Adjusted
Residential:
Video	$	5,825	$	(65	)	$	5,760	$	17,396	$	(190	)	$	17,206
High-speed Internet	3,709		233			3,942		10,994		688			11,682
Voice	840		173			1,013		2,559		522			3,081
Business services	1,575		54			1,629		4,596		161			4,757
Advertising	542		52			594		1,628		146			1,774
Other	712		(311		)	401		2,064		(918		)	1,146
Total Cable Communications revenue	$	13,203	$	136		$	13,339	$	39,237	$	409		$	39,646
Operating costs and expenses	$	7,957	$	166		$	8,123	$	23,473	$	490		$	23,963
Depreciation and amortization expense	$	2,049	$	(34	)	$	2,015	$	6,030	$	(102	)	$	5,928

NBCUniversal Segments

The adoption of the updated guidance impacted the timing of recognition for some of our revenue contracts, primarily for content licensing agreements. As a result of the adoption of the updated guidance, when the term of existing content licensing agreements is renewed or extended, revenue is not recognized until the date when the renewal or extension period begins. Under the prior guidance, revenue for the content licensing renewal period was recognized on the date that the renewal was agreed to contractually. This change resulted in delayed revenue recognition for content licensing renewals or extensions in our Cable Networks, Broadcast Television and Filmed Entertainment segments. This change also impacted the timing of the related amortization of our film and television costs and participations and residuals expenses. The adoption of the updated guidance did not have a material impact on the results of operations or financial position for the NBCUniversal segments.

Financial Assets and Financial Liabilities

In January 2016, the FASB updated the accounting guidance related to the recognition and measurement of financial assets and financial liabilities. The updated accounting guidance, among other things, requires that all nonconsolidated equity investments, except those accounted for under the equity method, be measured at fair value and the changes in fair value be recognized in net income. On January 1, 2018, we adopted the updated guidance prospectively along with a related clarifying update and as a result, we recorded an immaterial cumulative effect adjustment to retained earnings, accumulated other comprehensive income (loss) and investments. See Note 9 for further information.

Tax Reform

On December 22, 2017, new federal tax reform legislation was enacted in the United States (“2017 Tax Act”), resulting in significant changes from previous tax law. The new legislation reduced the federal corporate income tax rate to 21% from 35% effective January 1, 2018. In the fourth quarter of 2017, we recorded a net income tax benefit of approximately $12.7 billion on the date of enactment of the new legislation, primarily relating to a reduction of our net deferred tax liabilities as a result of the rate change. This amount also includes the reversal of our net deferred tax liabilities related to cumulative undistributed foreign earnings and deferred tax assets for related foreign tax credits, partially offset by the one-time deemed repatriation tax on undistributed foreign earnings and profits.

The adjustments to deferred tax assets and liabilities, and the liability related to the transition tax, are provisional amounts based on information available as of September 30, 2018. These amounts are subject to change as we obtain information necessary to complete the calculations. During the nine months ended September 30, 2018, we recorded immaterial adjustments to the provisional amounts related to the cumulative temporary differences and the one-time deemed repatriation tax on undistributed foreign earnings and profits. We expect to complete our analysis of the provisional items in the fourth quarter of 2018.

In February 2018, the FASB issued guidance that permits companies to reclassify disproportionate tax effects recorded in accumulated other comprehensive income as a result of the 2017 Tax Act to retained earnings. We adopted the guidance as of January 1, 2018 and, as a result, we recorded an immaterial cumulative effect adjustment to retained earnings and accumulated other comprehensive income (loss).

In February 2018, the Bipartisan Budget Act of 2018 was enacted. As part of this legislation, various tax provisions that had expired on December 31, 2016 were retroactively extended to December 31, 2017, including the statute permitting the immediate deduction for certain film and television production costs. We recorded an income tax benefit of $128 million in the first quarter of 2018 as a result of the enactment of this legislation.

Restricted Cash

In November 2016, the FASB updated the accounting guidance related to restricted cash. The new standard requires that the statement of cash flows present the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents, and a reconciliation of such total to amounts on the balance sheet. We adopted the updated guidance on January 1, 2018 and as required applied the retrospective transition method. The adoption did not have a material impact for any period presented.

Leases

In February 2016, the FASB updated the accounting guidance related to leases. The updated accounting guidance requires lessees to recognize a right-of-use asset and a lease liability on the balance sheet for all leases with the exception of short-term leases. The asset and liability are initially measured based on the present value of committed lease payments. For a lessee, the recognition, measurement and presentation of expenses and cash flows arising from a lease do not significantly change from previous guidance. For a lessor, the accounting applied is also largely unchanged from previous guidance. We will adopt the updated accounting guidance in the first quarter of 2019 and prior periods will not be adjusted. We are currently in the process of determining the impact that the updated accounting guidance will have on our consolidated financial statements.

Investments

Nonmarketable Equity Securities

We classify investments without readily determinable fair values that are not accounted for under the equity method as nonmarketable equity securities. The accounting guidance requires nonmarketable equity securities to be recorded at cost and adjusted to fair value at each reporting period. However, the guidance allows for a measurement alternative, which is to record the investments at cost, less impairment, if any, and subsequently adjust for observable price changes of identical or similar investments of the same issuer. We apply this measurement alternative to a majority of our nonmarketable equity securities. When an observable event occurs, we estimate the fair values of our nonmarketable equity securities based on Level 2 inputs that are derived from observable price changes of similar securities adjusted for insignificant differences in rights and obligations. The changes in value are recorded in realized and unrealized gains (losses) on equity securities, net.

Marketable Equity Securities

We classify publicly traded investments with readily determinable fair values that are not accounted for under the equity method as marketable equity securities. Marketable equity securities are recorded at cost and adjusted to fair value at each reporting period. The changes in fair value between measurement dates are recorded in realized and unrealized gains (losses) on equity securities, net. The fair values of our marketable equity securities are based on Level 1 inputs that use quoted market prices.

NBCUniversal Media LLC [Member]

Accounting Policies [Line Items]

Basis of Presentation

Unless indicated otherwise, throughout these notes to the condensed consolidated financial statements, we refer to NBCUniversal and its consolidated subsidiaries as “we,” “us” and “our.” We have prepared these unaudited condensed consolidated financial statements based on SEC rules that permit reduced disclosure for interim periods. These financial statements include all adjustments that are necessary for a fair presentation of our consolidated results of operations, cash flows and financial condition for the periods shown, including normal, recurring accruals and other items. The consolidated results of operations for the interim periods presented are not necessarily indicative of results for the full year.

The year-end condensed consolidated balance sheet was derived from audited financial statements but does not include all disclosures required by generally accepted accounting principles in the United States (“GAAP”). For a more complete discussion of our accounting policies and certain other information, refer to our consolidated financial statements included in our 2017 Annual Report on Form 10-K and the footnotes within this Form 10-Q.

Revenue Recognition

Distribution

Our Cable Networks segment generates distribution revenue from the distribution of our cable network programming to traditional and virtual multichannel video providers. Our Broadcast Television segment generates distribution revenue from the fees received under retransmission consent agreements and associated fees received from NBC-affiliated local broadcast television stations.

Distribution revenue is recognized as programming is provided on a monthly basis, generally under multiyear agreements. Monthly fees received under distribution agreements with multichannel video providers are generally based on the number of subscribers. Payment terms and conditions vary by contract type, although terms generally include payment within 30 to 60 days.

Advertising

Our Cable Networks and Broadcast Television segments generate advertising revenue from the sale of advertising on our cable and broadcast networks, our owned local broadcast television stations, and various digital properties.

We enter into advertising arrangements with customers and have determined that a contract exists once all terms and conditions are agreed upon, typically when the number of advertising units is specifically identified and the timing of airing is scheduled. Advertisements are generally aired or viewed within one year once all terms are agreed upon. Advertising revenue is recognized, net of agency commissions, in the period in which advertisements are aired or viewed and payment occurs thereafter, generally within 30 days. In some instances, we guarantee audience ratings for the advertisements. To the extent there is a shortfall in contracts where the ratings were guaranteed, a portion of the revenue is deferred until the shortfall is settled, typically by providing additional advertising units generally within one year of the original airing.

Theatrical

Our Filmed Entertainment segment theatrical revenue is generated from the worldwide theatrical release of our produced and acquired films for exhibition in movie theaters and is affected by the timing, nature and number of films released in movie theaters and their acceptance by audiences. Theatrical revenue is also affected by the number of exhibition screens, ticket prices, the percentage of ticket sale retention by the exhibitors and the popularity of competing films at the time our films are released. We recognize theatrical revenue as the films are viewed and exhibited in theaters and payment generally occurs within 60 days after exhibition.

Content Licensing

Our Cable Networks, Broadcast Television and Filmed Entertainment segments generate revenue from the licensing of our owned film and television content in the United States and internationally to cable, broadcast and premium networks and subscription video on demand services. Our content licensing agreements generally include fixed pricing and span multiple years. For example, following a film’s theatrical release, our Filmed Entertainment segment may license the exhibition rights of a film to different customers over multiple successive distribution windows.

We recognize revenue when the content is delivered and available for use by the licensee. When the term of an existing agreement is renewed or extended, we recognize revenue at the later of when the content is available or when the renewal or extension period begins. Payment terms and conditions vary by contract type, although payments are generally collected over the license term. The amount of future revenue to be earned related to fixed pricing under existing agreements primarily relates to our Filmed Entertainment segment, which at any given time equals approximately 1 to 2 years of our annual Filmed Entertainment content licensing revenue. The substantial majority of this revenue will be recognized within 2 years. This amount may fluctuate from period to period depending on the timing of the release and the availability of content under existing agreements and may not represent the total content licensing revenue expected to be recognized as it does not include revenue from future agreements or from variable pricing or optional purchases under existing agreements.

For our content licensing agreements that include variable pricing, such as pricing based on the number of subscribers to a subscription video on demand service sold by our customers, we generally recognize revenue as our customers sell to their subscribers.

Home Entertainment

Our Filmed Entertainment segment generates revenue from the sale of our produced and acquired films on standard-definition digital video discs and Blu-ray discs (together, “DVDs”) and through digital distribution services. Our Cable Networks and Broadcast Television networks also generate revenue from the sale of owned programming on DVDs and through digital distribution services, which is reported in other revenue. We recognize revenue from DVD sales, net of estimated returns and customer incentives, on the date that DVDs are delivered to and made available for sale by retailers. Payment terms generally include payment within 60 to 90 days from delivery to the retailer.

Theme Parks

Our Theme Parks segment generates revenue primarily from ticket sales and guest spending at our Universal theme parks in Orlando, Florida; Hollywood, California; and Osaka, Japan. Guest spending includes in-park spending on food, beverages and merchandise. We recognize revenue from theme park ticket sales when the tickets are used, generally within a year from the date of purchase. For annual passes, we generally recognize revenue on a straight-line basis over the period the pass is available to be used. We recognize revenue from guest spending at the point of sale.

Recent Accounting Pronouncements

Revenue Recognition

In May 2014, the Financial Accounting Standards Board (“FASB”) updated the accounting guidance related to revenue recognition. The updated accounting guidance provides a single, contract-based revenue recognition model to help improve financial reporting by providing clearer guidance on when an entity should recognize revenue and by reducing the number of standards to which an entity has to refer. The core principle of the new standard is that a company should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services.

We adopted the updated guidance on January 1, 2018 on a full retrospective basis, which required us to reflect the impact of the updated guidance for all periods presented.

The adoption of the new standard did not have a material impact on our consolidated results of operations or financial position for any period presented. The updated guidance also requires additional disclosures regarding the nature, timing and uncertainty of our revenue transactions (see Note 3).

The tables below present the effects on our condensed consolidated statement of income and balance sheet for the prior year periods presented.

Condensed Consolidated Statement of Income

	Three Months Ended September 30, 2017							Nine Months Ended September 30, 2017
(in millions)	Previously Reported		Effects of Adoption			As Adjusted		Previously Reported		Effects of Adoption			As Adjusted
Revenue	$	8,014	$	(38	)	$	7,976	$	24,213	$	(66	)	$	24,147
Total costs and expenses	$	5,909	$	(20	)	$	5,889	$	19,048	$	(53	)	$	18,995
Operating income	$	2,105	$	(18	)	$	2,087	$	5,165	$	(13	)	$	5,152
Net income attributable to NBCUniversal	$	1,825	$	(18	)	$	1,807	$	4,301	$	(13	)	$	4,288

Condensed Consolidated Balance Sheet

	December 31, 2017
(in millions)	Previously Reported		Effects of Adoption			As Adjusted
Total current assets	$	11,673	$	284		$	11,957
Film and television costs	$	7,071	$	11		$	7,082
Other noncurrent assets, net	$	1,872	$	(68	)	$	1,804
Total assets	$	71,073	$	227		$	71,300
Total current liabilities	$	9,602	$	330		$	9,932
Other noncurrent liabilities	$	4,109	$	44		$	4,153
Total equity	$	43,188	$	(147	)	$	43,041
Total liabilities and equity	$	71,073	$	227		$	71,300

The adoption of the updated guidance impacted the timing of recognition for some of our revenue contracts, primarily for content licensing agreements. As a result of the adoption of the updated guidance, when the term of existing content licensing agreements is renewed or extended, revenue is not recognized until the date when the renewal or extension period begins. Under the prior guidance, revenue for the content licensing renewal period was recognized on the date that the renewal was agreed to contractually. This change resulted in delayed revenue recognition for content licensing renewals or extensions in our Cable Networks, Broadcast Television and Filmed Entertainment segments. This change also impacted the timing of the related amortization of our film and television costs and participations and residuals expenses. The adoption of the updated guidance did not have a material impact on the results of operations or financial position for our reportable segments.

Financial Assets and Financial Liabilities

In January 2016, the FASB updated the accounting guidance related to the recognition and measurement of financial assets and financial liabilities. The updated accounting guidance, among other things, requires that all nonconsolidated equity investments, except those accounted for under the equity method, be measured at fair value and the changes in fair value be recognized in net income. On January 1, 2018, we adopted the updated guidance prospectively along with a related clarifying update and as a result, we recorded a $232 million cumulative effect adjustment to member’s capital and accumulated other comprehensive income (loss). See Note 8 for further information.

Restricted Cash

In November 2016, the FASB updated the accounting guidance related to restricted cash. The new standard requires that the statement of cash flows present the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents, and a reconciliation of such total to amounts on the balance sheet. We adopted the updated guidance on January 1, 2018 and as required applied the retrospective transition method. The adoption did not have a material impact for any period presented.

Leases

In February 2016, the FASB updated the accounting guidance related to leases. The updated accounting guidance requires lessees to recognize a right-of-use asset and a lease liability on the balance sheet for all leases with the exception of short-term leases. The asset and liability are initially measured based on the present value of committed lease payments. For a lessee, the recognition, measurement and presentation of expenses and cash flows arising from a lease do not significantly change from previous guidance. For a lessor, the accounting applied is also largely unchanged from previous guidance. We will adopt the updated accounting guidance in the first quarter of 2019 and prior periods will not be adjusted. We are currently in the process of determining the impact that the updated accounting guidance will have on our consolidated financial statements.

Investments

Marketable Equity Securities

We classify publicly traded investments with readily determinable fair values that are not accounted for under the equity method as marketable equity securities. Marketable equity securities are recorded at cost and adjusted to fair value at each reporting period. The changes in fair value between measurement dates are recorded in realized and unrealized gains (losses) on equity securities, net. The fair values of our marketable equity securities are based on Level 1 inputs that use quoted market prices.

Nonmarketable Equity Securities

We classify investments without readily determinable fair values that are not accounted for under the equity method as nonmarketable equity securities. The accounting guidance requires nonmarketable equity securities to be recorded at cost and adjusted to fair value at each reporting period. However, the guidance allows for a measurement alternative, which is to record the investments at cost, less impairment, if any, and subsequently adjust for observable price changes of identical or similar investments of the same issuer. We apply this measurement alternative toour nonmarketable equity securities. When an observable event occurs, we estimate the fair values of our nonmarketable equity securities based on Level 2 inputs that are derived from observable price changes of similar securities adjusted for insignificant differences in rights and obligations. The changes in value are recorded in realized and unrealized gains (losses) on equity securities, net.

XML

Segment Information (Tables)

9 Months Ended

Sep. 30, 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. Our financial data by business segment is presented in the tables below.

	Three Months Ended September 30, 2018
(in millions)	Revenue			Adjusted EBITDA(d)			Depreciation and Amortization		Capital Expenditures		Cash Paid for Intangible Assets
Cable Communications	$	13,787		$	5,615		$	2,071	$	1,944	$	353
NBCUniversal
Cable Networks	2,884			968			180		11		6
Broadcast Television	2,452			321			32		37		—
Filmed Entertainment	1,819			214			26		9		6
Theme Parks	1,528			725			170		269		23
Headquarters and Other(a)	15			(161		)	106		79		43
Eliminations(b)	(73		)	(1		)	—		—		—
NBCUniversal	8,625			2,066			514		405		78
Corporate and Other(c)	276			(378		)	33		35		14
Eliminations(b)	(553		)	10			—		—		—
Comcast Consolidated	$	22,135		$	7,313		$	2,618	$	2,384	$	445

	Three Months Ended September 30, 2017
(in millions)	Revenue			Adjusted EBITDA(d)			Depreciation and Amortization		Capital Expenditures		Cash Paid for Intangible Assets
Cable Communications	$	13,339		$	5,216		$	2,015	$	2,061	$	284
NBCUniversal
Cable Networks	2,603			906			179		5		4
Broadcast Television	2,125			316			33		66		4
Filmed Entertainment	1,753			383			32		18		6
Theme Parks	1,550			775			166		199		18
Headquarters and Other(a)	15			(122		)	97		66		37
Eliminations(b)	(70		)	(1		)	—		—		—
NBCUniversal	7,976			2,257			507		354		69
Corporate and Other(c)	266			(349		)	24		19		12
Eliminations(b)	(500		)	9			—		—		—
Comcast Consolidated	$	21,081		$	7,133		$	2,546	$	2,434	$	365

	Nine Months Ended September 30, 2018
(in millions)	Revenue			Adjusted EBITDA(d)			Depreciation and Amortization		Capital Expenditures		Cash Paid for Intangible Assets
Cable Communications	$	41,015		$	16,668		$	6,171	$	5,398	$	950
NBCUniversal
Cable Networks(e)	8,994			3,422			548		22		15
Broadcast Television(e)	8,340			1,245			106		99		75
Filmed Entertainment	5,176			555			117		24		20
Theme Parks	4,170			1,789			492		811		158
Headquarters and Other(a)	44			(497		)	314		179		106
Eliminations(b)(e)	(256		)	(3		)	—		—		—
NBCUniversal	26,468			6,511			1,577		1,135		374
Corporate and Other(c)	922			(1,167		)	72		74		51
Eliminations(b)(e)	(1,744		)	(38		)	—		—		—
Comcast Consolidated	$	66,661		$	21,974		$	7,820	$	6,607	$	1,375

	Nine Months Ended September 30, 2017
(in millions)	Revenue			Adjusted EBITDA(d)			Depreciation and Amortization		Capital Expenditures		Cash Paid for Intangible Assets
Cable Communications	$	39,646		$	15,683		$	5,928	$	5,798	$	897
NBCUniversal
Cable Networks	7,939			3,076			574		15		11
Broadcast Television	6,574			1,054			96		125		11
Filmed Entertainment	5,862			1,041			79		47		17
Theme Parks	3,982			1,723			494		671		57
Headquarters and Other(a)	32			(542		)	292		119		101
Eliminations(b)	(242		)	(2		)	—		—		—
NBCUniversal	24,147			6,350			1,535		977		197
Corporate and Other(c)	679			(845		)	58		64		42
Eliminations(b)	(1,518		)	30			—		—		—
Comcast Consolidated	$	62,954		$	21,218		$	7,521	$	6,839	$	1,136

(a) NBCUniversal Headquarters and Other activities include costs associated with overhead, allocations, personnel costs and headquarter initiatives.

(b) 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

(c) 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.

(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 Comcast Corporation before net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock, 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. 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.

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Adjusted EBITDA	$	7,313		$	7,133		$	21,974		$	21,218
Adjustment for legal settlement	—			(250		)	—			(250		)
Depreciation	(2,038		)	(1,991		)	(6,070		)	(5,876		)
Amortization	(580		)	(555		)	(1,750		)	(1,645		)
Other operating gains	141			442			341			442
Interest expense	(830		)	(766		)	(2,413		)	(2,279		)
Investment and other income (loss), net	(111		)	70			92			299
Income before income taxes	$	3,895		$	4,083		$	12,174		$	11,909

(e) The revenue and operating costs and expenses associated with our broadcast of the 2018 PyeongChang 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.

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.

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Adjusted EBITDA	$	7,313		$	7,133		$	21,974		$	21,218
Adjustment for legal settlement	—			(250		)	—			(250		)
Depreciation	(2,038		)	(1,991		)	(6,070		)	(5,876		)
Amortization	(580		)	(555		)	(1,750		)	(1,645		)
Other operating gains	141			442			341			442
Interest expense	(830		)	(766		)	(2,413		)	(2,279		)
Investment and other income (loss), net	(111		)	70			92			299
Income before income taxes	$	3,895		$	4,083		$	12,174		$	11,909

NBCUniversal Media LLC [Member]

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 NBCUniversal excluded from Adjusted EBITDA are not separately evaluated. Our financial data by business segment is presented in the tables below.

	Three Months Ended September 30, 2018
(in millions)	Revenue			Adjusted EBITDA(c)			Depreciation and Amortization		Capital Expenditures		Cash Paid for Intangible Assets
Cable Networks	$	2,884		$	968		$	180	$	11	$	6
Broadcast Television	2,452			321			32		37		—
Filmed Entertainment	1,819			214			26		9		6
Theme Parks	1,528			725			170		269		23
Headquarters and Other(a)	15			(161		)	106		79		43
Eliminations(b)	(73		)	(1		)	—		—		—
Total	$	8,625		$	2,066		$	514	$	405	$	78

	Three Months Ended September 30, 2017
(in millions)	Revenue			Adjusted EBITDA(c)			Depreciation and Amortization		Capital Expenditures		Cash Paid for Intangible Assets
Cable Networks	$	2,603		$	906		$	179	$	5	$	4
Broadcast Television	2,125			316			33		66		4
Filmed Entertainment	1,753			383			32		18		6
Theme Parks	1,550			775			166		199		18
Headquarters and Other(a)	15			(122		)	97		66		37
Eliminations(b)	(70		)	(1		)	—		—		—
Total	$	7,976		$	2,257		$	507	$	354	$	69

	Nine Months Ended September 30, 2018
(in millions)	Revenue			Adjusted EBITDA(c)			Depreciation and Amortization		Capital Expenditures		Cash Paid for Intangible Assets
Cable Networks(d)	$	8,994		$	3,422		$	548	$	22	$	15
Broadcast Television(d)	8,340			1,245			106		99		75
Filmed Entertainment	5,176			555			117		24		20
Theme Parks	4,170			1,789			492		811		158
Headquarters and Other(a)	44			(497		)	314		179		106
Eliminations(b)(d)	(256		)	(3		)	—		—		—
Total	$	26,468		$	6,511		$	1,577	$	1,135	$	374

	Nine Months Ended September 30, 2017
(in millions)	Revenue			Adjusted EBITDA(c)			Depreciation and Amortization		Capital Expenditures		Cash Paid for Intangible Assets
Cable Networks	$	7,939		$	3,076		$	574	$	15	$	11
Broadcast Television	6,574			1,054			96		125		11
Filmed Entertainment	5,862			1,041			79		47		17
Theme Parks	3,982			1,723			494		671		57
Headquarters and Other(a)	32			(542		)	292		119		101
Eliminations(b)	(242		)	(2		)	—		—		—
Total	$	24,147		$	6,350		$	1,535	$	977	$	197

(a) Headquarters and Other activities include costs associated with overhead, allocations, personnel costs and headquarter initiatives.

(b) Included in 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, this revenue is recognized as the programming rights asset for the licensed content is amortized based on third party revenue.

(c) 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. 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.

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Adjusted EBITDA	$	2,066		$	2,257		$	6,511		$	6,350
Depreciation	(250		)	(253		)	(750		)	(749		)
Amortization	(264		)	(254		)	(827		)	(786		)
Other operating gains	141			337			141			337
Interest expense	(134		)	(139		)	(394		)	(431		)
Investment and other income (loss), net	(205		)	(26		)	(377		)	(42		)
Income before income taxes	$	1,354		$	1,922		$	4,304		$	4,679

(d) The revenue and operating costs and expenses associated with our broadcast of the 2018 PyeongChang 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.

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.

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Adjusted EBITDA	$	2,066		$	2,257		$	6,511		$	6,350
Depreciation	(250		)	(253		)	(750		)	(749		)
Amortization	(264		)	(254		)	(827		)	(786		)
Other operating gains	141			337			141			337
Interest expense	(134		)	(139		)	(394		)	(431		)
Investment and other income (loss), net	(205		)	(26		)	(377		)	(42		)
Income before income taxes	$	1,354		$	1,922		$	4,304		$	4,679

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Revenue (Tables)

9 Months Ended

Sep. 30, 2018

Revenue [Line Items]

Schedule of receivables, net

(in millions)	September 30, 2018		December 31, 2017
Receivables, gross	$	9,300	$	9,122
Less: Allowance for doubtful accounts	317		288
Receivables, net	$	8,983	$	8,834

NBCUniversal Media LLC [Member]

Revenue [Line Items]

Schedule of receivables, net

(in millions)	September 30, 2018		December 31, 2017
Receivables, gross	$	6,951	$	7,055
Less: Allowance for doubtful accounts	100		88
Receivables, net	$	6,851	$	6,967

Accounting Standards Update 2014-09 [Member]

Revenue [Line Items]

Disaggregation of revenue

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Residential:
Video	$	5,591		$	5,760		$	16,878		$	17,206
High-Speed Internet	4,321			3,942			12,740			11,682
Voice	982			1,013			2,982			3,081
Business services	1,803			1,629			5,290			4,757
Advertising	684			594			1,932			1,774
Other	406			401			1,193			1,146
Total Cable Communications(a)	13,787			13,339			41,015			39,646
Distribution	1,680			1,533			5,251			4,645
Advertising	820			787			2,746			2,519
Content licensing and other	384			283			997			775
Total Cable Networks	2,884			2,603			8,994			7,939
Advertising	1,355			1,241			5,107			3,790
Content licensing	538			432			1,541			1,458
Distribution and other	559			452			1,692			1,326
Total Broadcast Television	2,452			2,125			8,340			6,574
Theatrical	601			515			1,564			2,003
Content licensing	719			662			2,100			2,080
Home entertainment	260			299			733			919
Other	239			277			779			860
Total Filmed Entertainment	1,819			1,753			5,176			5,862
Total Theme Parks	1,528			1,550			4,170			3,982
Headquarters and Other	15			15			44			32
Eliminations(b)	(73		)	(70		)	(256		)	(242		)
Total NBCUniversal	8,625			7,976			26,468			24,147
Corporate and Other	276			266			922			679
Eliminations(b)	(553		)	(500		)	(1,744		)	(1,518		)
Total revenue	$	22,135		$	21,081		$	66,661		$	62,954

(a) For the three and nine months ended September 30, 2018, 2.6% and 2.7%, respectively, of Cable Communications segment revenue was derived from franchise and other regulatory fees. For both the three and nine months ended September 30, 2017, 2.8% of Cable Communications segment revenue was derived from franchise and other regulatory fees.

(b) Included in Eliminations are transactions that our segments enter into with one another. See Note 2 for a description of these transactions.

We operate primarily in the United States, but also in select international markets, primarily in Europe and Asia. The table below summarizes revenue by geographic location.

	Three Months Ended September 30				Nine Months Ended September 30
(in millions)	2018		2017		2018		2017
United States	$	20,244	$	19,142	$	61,060	$	57,047
Foreign	1,891		1,939		5,601		5,907
Total revenue	$	22,135	$	21,081	$	66,661	$	62,954

Other balance sheet accounts

(in millions)	September 30, 2018		December 31, 2017
Noncurrent receivables, net (included in other noncurrent assets, net)	$	1,207	$	1,184
Contract acquisition and fulfillment costs (included in other noncurrent assets, net)	$	928	$	922
Noncurrent deferred revenue (included in other noncurrent liabilities)	$	572	$	497

Accounting Standards Update 2014-09 [Member] | NBCUniversal Media LLC [Member]

Revenue [Line Items]

Disaggregation of revenue

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Distribution	$	1,680		$	1,533		$	5,251		$	4,645
Advertising	820			787			2,746			2,519
Content licensing and other	384			283			997			775
Total Cable Networks	2,884			2,603			8,994			7,939
Advertising	1,355			1,241			5,107			3,790
Content licensing	538			432			1,541			1,458
Distribution and other	559			452			1,692			1,326
Total Broadcast Television	2,452			2,125			8,340			6,574
Theatrical	601			515			1,564			2,003
Content licensing	719			662			2,100			2,080
Home entertainment	260			299			733			919
Other	239			277			779			860
Total Filmed Entertainment	1,819			1,753			5,176			5,862
Total Theme Parks	1,528			1,550			4,170			3,982
Headquarters and Other	15			15			44			32
Eliminations(a)	(73		)	(70		)	(256		)	(242		)
Total revenue	$	8,625		$	7,976		$	26,468		$	24,147

(a) Included in Eliminations are transactions that our segments enter into with one another. See Note 2 for a description of these transactions.

We operate primarily in the United States, but also in select international markets primarily in Europe and Asia. The table below summarizes revenue by geographic location.

	Three Months Ended September 30				Nine Months Ended September 30
(in millions)	2018		2017		2018		2017
United States	$	6,758	$	6,088	$	20,945	$	18,344
Foreign	1,867		1,888		5,523		5,803
Total revenue	$	8,625	$	7,976	$	26,468	$	24,147

Other balance sheet accounts

(in millions)	September 30, 2018		December 31, 2017
Noncurrent receivables, net (included in other noncurrent assets, net)	$	1,098	$	1,093
Noncurrent deferred revenue (included in other noncurrent liabilities)	$	451	$	392

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Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Computation of diluted EPS

Computation of Diluted EPS

	Three Months Ended September 30
	2018					2017
(in millions, except per share data)	Net Income Attributable to Comcast Corporation		Shares	Per Share Amount		Net Income Attributable to Comcast Corporation		Shares	Per Share Amount
Basic EPS attributable to Comcast Corporation shareholders	$	2,886	4,564	$	0.63	$	2,642	4,698	$	0.56
Effect of dilutive securities:
Assumed exercise or issuance of shares relating to stock plans			55					79
Diluted EPS attributable to Comcast Corporation shareholders	$	2,886	4,619	$	0.62	$	2,642	4,777	$	0.55

	Nine Months Ended September 30
	2018					2017
(in millions, except per share data)	Net Income Attributable to Comcast Corporation		Shares	Per Share Amount		Net Income Attributable to Comcast Corporation		Shares	Per Share Amount
Basic EPS attributable to Comcast Corporation shareholders	$	9,220	4,599	$	2.00	$	7,736	4,725	$	1.64
Effect of dilutive securities:
Assumed exercise or issuance of shares relating to stock plans			56					81
Diluted EPS attributable to Comcast Corporation shareholders	$	9,220	4,655	$	1.98	$	7,736	4,806	$	1.61

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Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2018

Debt Borrowings

Debt Borrowings
(in millions)	Nine Months Ended September 30, 2018
Comcast sterling-denominated term loan due 2021 (see Note 6)	$	3,913
Comcast revolving credit facility (see Note 6)	1,500
Comcast 3.90% senior notes due 2038	1,200
Comcast 3.55% senior notes due 2028	1,000
Comcast 4.00% senior notes due 2048	1,000
Comcast 4.25% senior notes due 2053	800
Universal Beijing Resort term loans (see Note 6)	386
Other	51
Total	$	9,850

Debt Repayments and Repurchases

Debt Repayments
(in millions)	Nine Months Ended September 30, 2018
NBCUniversal Enterprise 1.662% senior notes due 2018	$	1,100
Comcast 5.70% senior notes due 2018	1,000
Comcast 5.875% senior notes due 2018	900
NBCUniversal Enterprise senior floating rate notes due 2018	700
Universal Studios Japan term loans maturing 2022	362
Other	343
Total	$	4,405

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Significant Transactions (Tables)

9 Months Ended

Sep. 30, 2018

Business Combinations [Abstract]

Amounts Related to Expenses Included in Consolidated Statement of Operations

	Three Months Ended September 30		Nine Months Ended September 30
(in millions)	2018		2018
Other operating and administrative expenses	$	8	$	29
Interest expense	$	34	$	45

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Recent Accounting Pronouncements and Tax Reform (Tables)

9 Months Ended

Sep. 30, 2018

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Revenue From Contract With Customer Financial Statement Impact

The tables below present the effects on our condensed consolidated statement of income and balance sheet for the prior year periods presented.

Condensed Consolidated Statement of Income

	Three Months Ended September 30, 2017							Nine Months Ended September 30, 2017
(in millions)	Previously Reported		Effects of Adoption			As Adjusted		Previously Reported		Effects of Adoption		As Adjusted
Revenue	$	20,983	$	98		$	21,081	$	62,611	$	343	$	62,954
Total costs and expenses	$	16,191	$	111		$	16,302	$	48,731	$	334	$	49,065
Operating income	$	4,792	$	(13	)	$	4,779	$	13,880	$	9	$	13,889
Net income attributable to Comcast Corporation	$	2,650	$	(8	)	$	2,642	$	7,729	$	7	$	7,736

Condensed Consolidated Balance Sheet

	December 31, 2017
(in millions)	Previously Reported		Effects of Adoption			As Adjusted
Total current assets	$	16,060	$	283		$	16,343
Film and television costs	$	7,076	$	11		$	7,087
Other intangible assets, net	$	18,779	$	(646	)	$	18,133
Other noncurrent assets, net	$	3,489	$	865		$	4,354
Total assets	$	186,949	$	513		$	187,462
Total current liabilities	$	21,561	$	432		$	21,993
Deferred income taxes	$	24,256	$	3		$	24,259
Other noncurrent liabilities	$	10,904	$	68		$	10,972
Total equity	$	69,449	$	10		$	69,459
Total liabilities and equity	$	186,949	$	513		$	187,462

The table below presents the effects these changes had on our Cable Communications segment revenue, operating costs and expenses, and depreciation and amortization expense as a result of the updated guidance for the prior year periods. Previously reported amounts are based on amounts previously presented in the segment information footnote.

	Three Months Ended September 30, 2017							Nine Months Ended September 30, 2017
(in millions)	Previously Reported		Effects of Adoption			As Adjusted		Previously Reported		Effects of Adoption			As Adjusted
Residential:
Video	$	5,825	$	(65	)	$	5,760	$	17,396	$	(190	)	$	17,206
High-speed Internet	3,709		233			3,942		10,994		688			11,682
Voice	840		173			1,013		2,559		522			3,081
Business services	1,575		54			1,629		4,596		161			4,757
Advertising	542		52			594		1,628		146			1,774
Other	712		(311		)	401		2,064		(918		)	1,146
Total Cable Communications revenue	$	13,203	$	136		$	13,339	$	39,237	$	409		$	39,646
Operating costs and expenses	$	7,957	$	166		$	8,123	$	23,473	$	490		$	23,963
Depreciation and amortization expense	$	2,049	$	(34	)	$	2,015	$	6,030	$	(102	)	$	5,928

NBCUniversal Media LLC [Member]

New Accounting Pronouncements or Change in Accounting Principle [Line Items]

Revenue From Contract With Customer Financial Statement Impact

The tables below present the effects on our condensed consolidated statement of income and balance sheet for the prior year periods presented.

Condensed Consolidated Statement of Income

	Three Months Ended September 30, 2017							Nine Months Ended September 30, 2017
(in millions)	Previously Reported		Effects of Adoption			As Adjusted		Previously Reported		Effects of Adoption			As Adjusted
Revenue	$	8,014	$	(38	)	$	7,976	$	24,213	$	(66	)	$	24,147
Total costs and expenses	$	5,909	$	(20	)	$	5,889	$	19,048	$	(53	)	$	18,995
Operating income	$	2,105	$	(18	)	$	2,087	$	5,165	$	(13	)	$	5,152
Net income attributable to NBCUniversal	$	1,825	$	(18	)	$	1,807	$	4,301	$	(13	)	$	4,288

Condensed Consolidated Balance Sheet

	December 31, 2017
(in millions)	Previously Reported		Effects of Adoption			As Adjusted
Total current assets	$	11,673	$	284		$	11,957
Film and television costs	$	7,071	$	11		$	7,082
Other noncurrent assets, net	$	1,872	$	(68	)	$	1,804
Total assets	$	71,073	$	227		$	71,300
Total current liabilities	$	9,602	$	330		$	9,932
Other noncurrent liabilities	$	4,109	$	44		$	4,153
Total equity	$	43,188	$	(147	)	$	43,041
Total liabilities and equity	$	71,073	$	227		$	71,300

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Film and Television Costs (Tables)

9 Months Ended

Sep. 30, 2018

Film And Television Cost [Line Items]

Film and Television Costs

(in millions)	September 30, 2018		December 31, 2017
Film Costs:
Released, less amortization	$	1,573	$	1,734
Completed, not released	242		50
In production and in development	1,010		1,149
	2,825		2,933
Television Costs:
Released, less amortization	2,286		2,260
In production and in development	905		818
	3,191		3,078
Programming rights, less amortization	2,584		2,689
	8,600		8,700
Less: Current portion of programming rights	1,223		1,613
Film and television costs	$	7,377	$	7,087

NBCUniversal Media LLC [Member]

Film And Television Cost [Line Items]

Film and Television Costs

(in millions)	September 30, 2018		December 31, 2017
Film Costs:
Released, less amortization	$	1,573	$	1,734
Completed, not released	242		50
In production and in development	1,010		1,149
	2,825		2,933
Television Costs:
Released, less amortization	2,286		2,260
In production and in development	905		818
	3,191		3,078
Programming rights, less amortization	2,566		2,677
	8,582		8,688
Less: Current portion of programming rights	1,213		1,606
Film and television costs	$	7,369	$	7,082

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Investments (Tables)

9 Months Ended

Sep. 30, 2018

Investments [Line Items]

Investment Summary

(in millions)	September 30, 2018		December 31, 2017
Equity method	$	4,163	$	3,546
Marketable equity securities	322		433
Nonmarketable equity securities	1,528		1,186
Other investments	1,798		1,785
Total investments	7,811		6,950
Less: Current investments	87		19
Noncurrent investments	$	7,724	$	6,931

Investment and Other Income (Loss), Net

Investment and Other Income (Loss), Net

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Equity in net income (losses) of investees, net	$	(76	)	$	(39	)	$	(56	)	$	12
Realized and unrealized gains (losses) on equity securities, net	(38		)	7			(50		)	—
Other income (loss), net	3			102			198			287
Investment and other income (loss), net	$	(111	)	$	70		$	92		$	299

NBCUniversal Media LLC [Member]

Investments [Line Items]

Investment Summary

(in millions)	September 30, 2018		December 31, 2017
Equity method	$	660	$	690
Marketable equity securities	249		430
Nonmarketable equity securities	813		696
Total investments	$	1,722	$	1,816

Investment and Other Income (Loss), Net

Investment and Other Income (Loss), Net

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Equity in net income (losses) of investees, net	$	(119	)	$	(52	)	$	(306	)	$	(107	)
Realized and unrealized gains (losses) on equity securities, net	(91		)	—			(128		)	2
Other income (loss), net	5			26			57			63
Investment and other income (loss), net	$	(205	)	$	(26	)	$	(377	)	$	(42	)

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Supplemental Financial Information (Tables)

9 Months Ended

Sep. 30, 2018

Supplemental Financial Information [Line Items]

Schedule of recognized share-based compensation expense

Recognized Share-Based Compensation Expense

	Three Months Ended September 30				Nine Months Ended September 30
(in millions)	2018		2017		2018		2017
Restricted share units	$	94	$	99	$	279	$	284
Stock options	50		52		155		155
Employee stock purchase plans	7		8		24		25
Total	$	151	$	159	$	458	$	464

Schedule of cash payments for interest and income taxes

Cash Payments for Interest and Income Taxes

	Nine Months Ended September 30
(in millions)	2018		2017
Interest	$	2,240	$	2,277
Income taxes	$	1,533	$	3,415

Schedule of cash, cash equivalents and restricted cash

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the condensed consolidated balance sheet to the total of the amounts reported in our condensed consolidated statement of cash flows.

(in millions)	September 30, 2018		December 31, 2017
Cash and cash equivalents	$	10,616	$	3,428
Restricted cash included in other current assets	47		60
Restricted cash included in other noncurrent assets, net	3,959		83
Cash, cash equivalents and restricted cash, end of period	$	14,622	$	3,571

Schedule of accumulated other comprehensive income (loss)

Accumulated Other Comprehensive Income (Loss)

(in millions)	September 30, 2018		September 30, 2017
Unrealized gains (losses) on marketable securities	$	2	$	(43	)
Deferred gains (losses) on cash flow hedges	28		(12		)
Unrecognized gains (losses) on employee benefit obligations	294		270
Cumulative translation adjustments	50		166
Accumulated other comprehensive income (loss), net of deferred taxes	$	374	$	381

NBCUniversal Media LLC [Member]

Supplemental Financial Information [Line Items]

Schedule of cash payments for interest and income taxes

Cash Payments for Interest and Income Taxes 

	Nine Months Ended September 30
(in millions)	2018		2017
Interest	$	253	$	340
Income taxes	$	373	$	213

Schedule of cash, cash equivalents and restricted cash

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the condensed consolidated balance sheet to the total of the amounts reported in our condensed consolidated statement of cash flows.

(in millions)	September 30, 2018		December 31, 2017
Cash and cash equivalents	$	1,181	$	2,347
Restricted cash included in other noncurrent assets, net	20		30
Cash, cash equivalents and restricted cash, end of period	$	1,201	$	2,377

Schedule of accumulated other comprehensive income (loss)

Accumulated Other Comprehensive Income (Loss)

(in millions)	September 30, 2018			September 30, 2017
Unrealized gains (losses) on marketable securities	$	—		$	(233	)
Deferred gains (losses) on cash flow hedges	5			(4		)
Unrecognized gains (losses) on employee benefit obligations	115			115
Cumulative translation adjustments	(22		)	93
Accumulated other comprehensive income (loss)	$	98		$	(29	)

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Related Party Transactions (Tables)

9 Months Ended

Sep. 30, 2018

NBCUniversal Media LLC [Member]

Related Party Transaction [Line Items]

Related Party Transactions Condensed Financial Statements

The following tables present transactions with Comcast and its consolidated subsidiaries that are included in our condensed consolidated financial statements.

Condensed Consolidated Statement of Income

	Three Months Ended September 30						Nine Months Ended September 30
(in millions)	2018			2017			2018			2017
Transactions with Comcast and Consolidated Subsidiaries
Revenue	$	506		$	463		$	1,580		$	1,382
Total costs and expenses	$	(59	)	$	(38	)	$	(162	)	$	(148	)
Interest expense and investment and other income (loss), net	$	(9	)	$	(20	)	$	(52	)	$	(67	)

Condensed Consolidated Balance Sheet

(in millions)	September 30, 2018		December 31, 2017
Transactions with Comcast and Consolidated Subsidiaries
Receivables, net	$	350	$	326
Note receivable from Comcast	$	1,522	$	—
Accounts payable and accrued expenses related to trade creditors	$	48	$	54
Accrued expenses and other current liabilities	$	20	$	50
Note payable to Comcast	$	41	$	1,831
Long-term debt	$	698	$	610
Other noncurrent liabilities	$	394	$	389

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Condensed Consolidating Financial Information (Tables)

9 Months Ended

Sep. 30, 2018

Condensed Financial Information Disclosure [Abstract]

Condensed Consolidating Statement of Income

Condensed Consolidating Statement of Income

For theThree Months Ended September 30, 2018

(in millions)	Comcast Parent			Comcast Holdings			CCCL Parent			NBCUniversal Media Parent			Non- Guarantor Subsidiaries			Elimination and Consolidation Adjustments			Consolidated Comcast Corporation
Revenue:
Service revenue	$	—		$	—		$	—		$	—		$	22,135		$	—		$	22,135
Management fee revenue	299			—			294			—			—			(593		)	—
Total revenue	299			—			294			—			22,135			(593		)	22,135
Costs and Expenses:
Programming and production	—			—			—			—			6,711			—			6,711
Other operating and administrative	208			—			294			230			6,305			(593		)	6,444
Advertising, marketing and promotion	—			—			—			—			1,667			—			1,667
Depreciation	12			—			—			—			2,026			—			2,038
Amortization	1			—			—			—			579			—			580
Other operating gains	—			—			—			—			(141		)	—			(141		)
Total cost and expenses	221			—			294			230			17,147			(593		)	17,299
Operating income (loss)	78			—			—			(230		)	4,988			—			4,836
Interest expense	(600		)	(3		)	(48		)	(113		)	(66		)	—			(830		)
Investment and other income (loss), net	3,299			3,380			3,007			1,576			1,065			(12,438		)	(111		)
Income (loss) before income taxes	2,777			3,377			2,959			1,233			5,987			(12,438		)	3,895
Income tax (expense) benefit	109			(1		)	10			(2		)	(1,115		)	—			(999		)
Net income (loss)	2,886			3,376			2,969			1,231			4,872			(12,438		)	2,896
Less: Net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock	—			—			—			—			10			—			10
Net income (loss) attributable to Comcast Corporation	$	2,886		$	3,376		$	2,969		$	1,231		$	4,862		$	(12,438	)	$	2,886
Comprehensive income (loss) attributable to Comcast Corporation	$	2,799		$	3,349		$	2,974		$	1,112		$	4,663		$	(12,098	)	$	2,799

Condensed Consolidating Statement of Income

For the Three Months Ended September 30, 2017

(in millions)	Comcast Parent			Comcast Holdings			CCCL Parent			NBCUniversal Media Parent			Non- Guarantor Subsidiaries			Elimination and Consolidation Adjustments			Consolidated Comcast Corporation
Revenue:
Service revenue	$	—		$	—		$	—		$	—		$	21,081		$	—		$	21,081
Management fee revenue	285			—			280			—			—			(565		)	—
Total revenue	285			—			280			—			21,081			(565		)	21,081
Costs and Expenses:
Programming and production	—			—			—			—			6,059			—			6,059
Other operating and administrative	183			—			280			277			6,360			(565		)	6,535
Advertising, marketing and promotion	—			—			—			—			1,604			—			1,604
Depreciation	7			—			—			—			1,984			—			1,991
Amortization	1			—			—			—			554			—			555
Other operating gains	—			—			—			—			(442		)	—			(442		)
Total cost and expenses	191			—			280			277			16,119			(565		)	16,302
Operating income (loss)	94			—			—			(277		)	4,962			—			4,779
Interest expense	(544		)	(3		)	(48		)	(116		)	(55		)	—			(766		)
Investment and other income (loss), net	2,934			2,513			1,995			2,206			1,845			(11,423		)	70
Income (loss) before income taxes	2,484			2,510			1,947			1,813			6,752			(11,423		)	4,083
Income tax (expense) benefit	158			(10		)	17			(6		)	(1,568		)	—			(1,409		)
Net income (loss)	2,642			2,500			1,964			1,807			5,184			(11,423		)	2,674
Less: Net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock	—			—			—			—			32			—			32
Net income (loss) attributable to Comcast Corporation	$	2,642		$	2,500		$	1,964		$	1,807		$	5,152		$	(11,423	)	$	2,642
Comprehensive income (loss) attributable to Comcast Corporation	$	2,595		$	2,484		$	1,968		$	1,722		$	5,024		$	(11,198	)	$	2,595

Condensed Consolidating Statement of Income

For the Nine Months Ended September 30, 2018

(in millions)	Comcast Parent			Comcast Holdings			CCCL Parent			NBCUniversal Media Parent			Non- Guarantor Subsidiaries			Elimination and Consolidation Adjustments			Consolidated Comcast Corporation
Revenue:
Service revenue	$	—		$	—		$	—		$	—		$	66,661		$	—		$	66,661
Management fee revenue	889			—			873			—			—			(1,762		)	—
Total revenue	889			—			873			—			66,661			(1,762		)	66,661
Costs and Expenses:
Programming and production	—			—			—			—			20,440			—			20,440
Other operating and administrative	626			—			873			772			18,814			(1,762		)	19,323
Advertising, marketing and promotion	—			—			—			—			4,924			—			4,924
Depreciation	34			—			—			—			6,036			—			6,070
Amortization	4			—			—			—			1,746			—			1,750
Other operating gains	—			—			—			—			(341		)	—			(341		)
Total cost and expenses	664			—			873			772			51,619			(1,762		)	52,166
Operating income (loss)	225			—			—			(772		)	15,042			—			14,495
Interest expense	(1,739		)	(9		)	(143		)	(332		)	(190		)	—			(2,413		)
Investment and other income (loss), net	10,416			10,279			8,832			5,107			3,977			(38,519		)	92
Income (loss) before income taxes	8,902			10,270			8,689			4,003			18,829			(38,519		)	12,174
Income tax (expense) benefit	318			—			29			(12		)	(3,229		)	—			(2,894		)
Net income (loss)	9,220			10,270			8,718			3,991			15,600			(38,519		)	9,280
Less: Net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock	—			—			—			—			60			—			60
Net income (loss) attributable to Comcast Corporation	$	9,220		$	10,270		$	8,718		$	3,991		$	15,540		$	(38,519	)	$	9,220
Comprehensive income (loss) attributable to Comcast Corporation	$	9,139		$	10,245		$	8,723		$	3,877		$	15,357		$	(38,202	)	$	9,139

Condensed Consolidating Statement of Income

For the Nine Months Ended September 30, 2017

(in millions)	Comcast Parent			Comcast Holdings			CCCL Parent			NBCUniversal Media Parent			Non- Guarantor Subsidiaries			Elimination and Consolidation Adjustments			Consolidated Comcast Corporation
Revenue:
Service revenue	$	—		$	—		$	—		$	—		$	62,954		$	—		$	62,954
Management fee revenue	841			—			827			—			—			(1,668		)	—
Total revenue	841			—			827			—			62,954			(1,668		)	62,954
Costs and Expenses:
Programming and production	—			—			—			—			18,450			—			18,450
Other operating and administrative	553			—			827			844			18,086			(1,668		)	18,642
Advertising, marketing and promotion	—			—			—			—			4,894			—			4,894
Depreciation	21			—			—			—			5,855			—			5,876
Amortization	4			—			—			—			1,641			—			1,645
Other operating gains	—			—			—			—			(442		)	—			(442		)
Total costs and expenses	578			—			827			844			48,484			(1,668		)	49,065
Operating income (loss)	263			—			—			(844		)	14,470			—			13,889
Interest expense	(1,592		)	(9		)	(159		)	(344		)	(175		)	—			(2,279		)
Investment and other income (loss), net	8,600			7,841			6,628			5,493			4,476			(32,739		)	299
Income (loss) before income taxes	7,271			7,832			6,469			4,305			18,771			(32,739		)	11,909
Income tax (expense) benefit	465			(26		)	56			(17		)	(4,516		)	—			(4,038		)
Net income (loss)	7,736			7,806			6,525			4,288			14,255			(32,739		)	7,871
Less: Net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock	—			—			—			—			135			—			135
Net income (loss) attributable to Comcast Corporation	$	7,736		$	7,806		$	6,525		$	4,288		$	14,120		$	(32,739	)	$	7,736
Comprehensive income (loss) attributable to Comcast Corporation	$	7,825		$	7,804		$	6,531		$	4,253		$	13,993		$	(32,581	)	$	7,825

Condensed Consolidating Statement of Cash Flows

Condensed Consolidating Statement of Cash Flows

For the Nine Months Ended September 30, 2018

(in millions)	Comcast Parent			Comcast Holdings			CCCL Parent			NBCUniversal Media Parent			Non- Guarantor Subsidiaries			Elimination and Consolidation Adjustments		Consolidated Comcast Corporation
Net cash provided by (used in) operating activities	$	(1,461	)	$	137		$	(206	)	$	(1,047	)	$	21,084		$	—	$	18,507
Investing Activities:
Net transactions with affiliates	(1,087		)	(586		)	206			800			667			—		—
Capital expenditures	(15		)	—			—			—			(6,592		)	—		(6,607		)
Cash paid for intangible assets	(3		)	—			—			—			(1,372		)	—		(1,375		)
Acquisitions and construction of real estate properties	(94		)	—			—			—			(35		)	—		(129		)
Construction of Universal Beijing Resort	—			—			—			—			(257		)	—		(257		)
Acquisitions, net of cash acquired	—			—			—			—			(88		)	—		(88		)
Proceeds from sales of investments	—			—			—			67			60			—		127
Purchases of investments	(118		)	—			—			(50		)	(672		)	—		(840		)
Other	—			449			—			—			130			—		579
Net cash provided by (used in) investing activities	(1,317		)	(137		)	206			817			(8,159		)	—		(8,590		)
Financing Activities:
Proceeds from (repayments of) short-term borrowings, net	2,117			—			—			—			792			—		2,909
Proceeds from borrowings	9,386			—			—			—			464			—		9,850
Repurchases and repayments of debt	(1,900		)	—			—			(3		)	(2,502		)	—		(4,405		)
Repurchases of common stock under repurchase program and employee plans	(4,282		)	—			—			—			—			—		(4,282		)
Dividends paid	(2,487		)	—			—			—			—			—		(2,487		)
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock	—			—			—			—			(209		)	—		(209		)
Other	(56		)	—			—			—			(186		)	—		(242		)
Net cash provided by (used in) financing activities	2,778			—			—			(3		)	(1,641		)	—		1,134
Increase (decrease) in cash, cash equivalents and restricted cash	—			—			—			(233		)	11,284			—		11,051
Cash, cash equivalents and restricted cash, beginning of period	—			—			—			496			3,075			—		3,571
Cash, cash equivalents and restricted cash, end of period	$	—		$	—		$	—		$	263		$	14,359		$	—	$	14,622

Condensed Consolidating Statement of Cash Flows

For the Nine Months Ended September 30, 2017

(in millions)	Comcast Parent			Comcast Holdings			CCCL Parent			NBCUniversal Media Parent			Non- Guarantor Subsidiaries			Elimination and Consolidation Adjustments		Consolidated Comcast Corporation
Net cash provided by (used in) operating activities	$	(931	)	$	91		$	(233	)	$	(1,055	)	$	17,985		$	—	$	15,857
Investing Activities:
Net transactions with affiliates	4,216			(91		)	818			833			(5,776		)	—		—
Capital expenditures	(6		)	—			—			—			(6,833		)	—		(6,839		)
Cash paid for intangible assets	(2		)	—			—			—			(1,134		)	—		(1,136		)
Acquisitions and construction of real estate properties	(190		)	—			—			—			(135		)	—		(325		)
Construction of Universal Beijing Resort	—			—			—			—			(47		)	—		(47		)
Acquisitions, net of cash acquired	—			—			—			—			(429		)	—		(429		)
Proceeds from sales of investments	—			—			—			10			110			—		120
Purchases of investments	(56		)	—			(35		)	(57		)	(1,916		)	—		(2,064		)
Other	101			—			—			49			647			—		797
Net cash provided by (used in) investing activities	4,063			(91		)	783			835			(15,513		)	—		(9,923		)
Financing Activities:
Proceeds from (repayments of) short-term borrowings, net	(1,739		)	—			—			—			(1,068		)	—		(2,807		)
Proceeds from borrowings	5,997			—			—			—			5,463			—		11,460
Repurchases and repayments of debt	(1,000		)	—			(550		)	(3		)	(3,468		)	—		(5,021		)
Repurchases of common stock under repurchase program and employee plans	(4,212		)	—			—			—			—			—		(4,212		)
Dividends paid	(2,147		)	—			—			—			—			—		(2,147		)
Purchase of Universal Studios Japan noncontrolling interests	—			—			—			—			(2,299		)	—		(2,299		)
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock	—			—			—			—			(198		)	—		(198		)
Other	(31		)	—			—			—			134			—		103
Net cash provided by (used in) financing activities	(3,132		)	—			(550		)	(3		)	(1,436		)	—		(5,121		)
Increase (decrease) in cash, cash equivalents and restricted cash	—			—			—			(223		)	1,036			—		813
Cash, cash equivalents and restricted cash, beginning of period	—			—			—			482			2,933			—		3,415
Cash, cash equivalents and restricted cash, end of period	$	—		$	—		$	—		$	259		$	3,969		$	—	$	4,228

Condensed Consolidating Balance Sheet

Condensed Consolidating Balance Sheet

September 30, 2018

(in millions)	Comcast Parent		Comcast Holdings		CCCL Parent		NBCUniversal Media Parent		Non- Guarantor Subsidiaries		Elimination and Consolidation Adjustments			Consolidated Comcast Corporation
Assets
Cash and cash equivalents	$	—	$	—	$	—	$	263	$	10,353	$	—		$	10,616
Receivables, net	—		—		—		—		8,983		—			8,983
Programming rights	—		—		—		—		1,223		—			1,223
Other current assets	58		8		—		34		2,284		—			2,384
Total current assets	58		8		—		297		22,843		—			23,206
Film and television costs	—		—		—		—		7,377		—			7,377
Investments	267		11		122		790		6,534		—			7,724
Investments in and amounts due from subsidiaries eliminated upon consolidation	129,360		146,297		132,562		53,078		103,526		(564,823		)	—
Property and equipment, net	649		—		—		—		39,206		—			39,855
Franchise rights	—		—		—		—		59,365		—			59,365
Goodwill	—		—		—		—		36,703		—			36,703
Other intangible assets, net	11		—		—		—		18,638		—			18,649
Other noncurrent assets, net	782		230		—		95		6,884		(235		)	7,756
Total assets	$	131,127	$	146,546	$	132,684	$	54,260	$	301,076	$	(565,058	)	$	200,635
Liabilities and Equity
Accounts payable and accrued expenses related to trade creditors	$	13	$	—	$	—	$	—	$	7,023	$	—		$	7,036
Accrued participations and residuals	—		—		—		—		1,809		—			1,809
Deferred revenue	—		—		—		—		1,633		—			1,633
Accrued expenses and other current liabilities	1,852		150		231		346		3,397		—			5,976
Current portion of long-term debt	699		—		—		4		2,470		—			3,173
Total current liabilities	2,564		150		231		350		16,332		—			19,627
Long-term debt, less current portion	54,120		144		2,100		7,748		5,599		—			69,711
Deferred income taxes	—		330		—		68		25,070		(301		)	25,167
Other noncurrent liabilities	2,920		—		—		1,225		8,257		66			12,468
Redeemable noncontrolling interests and redeemable subsidiary preferred stock	—		—		—		—		1,317		—			1,317
Equity:
Common stock	54		—		—		—		—		—			54
Other shareholders’ equity	71,469		145,922		130,353		44,869		243,679		(564,823		)	71,469
Total Comcast Corporation shareholders’ equity	71,523		145,922		130,353		44,869		243,679		(564,823		)	71,523
Noncontrolling interests	—		—		—		—		822		—			822
Total equity	71,523		145,922		130,353		44,869		244,501		(564,823		)	72,345
Total liabilities and equity	$	131,127	$	146,546	$	132,684	$	54,260	$	301,076	$	(565,058	)	$	200,635

Condensed Consolidating Balance Sheet

December 31, 2017

(in millions)	Comcast Parent		Comcast Holdings		CCCL Parent		NBCUniversal Media Parent		Non- Guarantor Subsidiaries		Elimination and Consolidation Adjustments			Consolidated Comcast Corporation
Assets
Cash and cash equivalents	$	—	$	—	$	—	$	496	$	2,932	$	—		$	3,428
Receivables, net	—		—		—		—		8,834		—			8,834
Programming rights	—		—		—		—		1,613		—			1,613
Other current assets	60		—		7		25		2,376		—			2,468
Total current assets	60		—		7		521		15,755		—			16,343
Film and television costs	—		—		—		—		7,087		—			7,087
Investments	146		21		108		693		5,963		—			6,931
Investments in and amounts due from subsidiaries eliminated upon consolidation	117,164		142,519		139,528		50,102		113,332		(562,645		)	—
Property and equipment, net	551		—		—		—		37,919		—			38,470
Franchise rights	—		—		—		—		59,364		—			59,364
Goodwill	—		—		—		—		36,780		—			36,780
Other intangible assets, net	12		—		—		—		18,121		—			18,133
Other noncurrent assets, net	435		708		—		88		3,437		(314		)	4,354
Total assets	$	118,368	$	143,248	$	139,643	$	51,404	$	297,758	$	(562,959	)	$	187,462
Liabilities and Equity
Accounts payable and accrued expenses related to trade creditors	$	16	$	—	$	—	$	—	$	6,892	$	—		$	6,908
Accrued participations and residuals	—		—		—		—		1,644		—			1,644
Deferred revenue	—		—		—		—		1,687		—			1,687
Accrued expenses and other current liabilities	1,888		92		333		326		3,981		—			6,620
Current portion of long-term debt	2,810		—		—		4		2,320		—			5,134
Total current liabilities	4,714		92		333		330		16,524		—			21,993
Long-term debt, less current portion	42,428		140		2,100		7,751		7,003		—			59,422
Deferred income taxes	—		285		—		67		24,250		(343		)	24,259
Other noncurrent liabilities	2,610		—		—		1,128		7,205		29			10,972
Redeemable noncontrolling interests and redeemable subsidiary preferred stock	—		—		—		—		1,357		—			1,357
Equity:
Common stock	55		—		—		—		—		—			55
Other shareholders’ equity	68,561		142,731		137,210		42,128		240,576		(562,645		)	68,561
Total Comcast Corporation shareholders’ equity	68,616		142,731		137,210		42,128		240,576		(562,645		)	68,616
Noncontrolling interests	—		—		—		—		843		—			843
Total equity	68,616		142,731		137,210		42,128		241,419		(562,645		)	69,459
Total liabilities and equity	$	118,368	$	143,248	$	139,643	$	51,404	$	297,758	$	(562,959	)	$	187,462

XML

Segment Information (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018 USD ($)	Sep. 30, 2017 USD ($)	Sep. 30, 2018 USD ($) segment	Sep. 30, 2017 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment			5
Financial Data by Business Segment
Revenue	$ 22,135	$ 21,081	$ 66,661	$ 62,954
Adjusted EBITDA	7,313	7,133	21,974	21,218
Depreciation and Amortization	2,618	2,546	7,820	7,521
Capital Expenditures	2,384	2,434	6,607	6,839
Cash Paid for Intangible Assets	445	365	$ 1,375	1,136
NBCUniversal Media LLC [Member]
Segment Reporting Information [Line Items]
Number of reportable segments | segment			4
Financial Data by Business Segment
Revenue	8,625	7,976	$ 26,468	24,147
Adjusted EBITDA	2,066	2,257	6,511	6,350
Depreciation and Amortization	514	507	1,577	1,535
Capital Expenditures	405	354	1,135	977
Cash Paid for Intangible Assets	78	69	374	197
Cable Communications [Member]
Financial Data by Business Segment
Revenue	13,787	13,339	41,015	39,646
Depreciation and Amortization		2,015		5,928
Cable Networks [Member]
Financial Data by Business Segment
Revenue	2,884	2,603	8,994	7,939
Cable Networks [Member] | NBCUniversal Media LLC [Member]
Financial Data by Business Segment
Revenue	2,884	2,603	8,994	7,939
Broadcast Television [Member]
Financial Data by Business Segment
Revenue	2,452	2,125	8,340	6,574
Broadcast Television [Member] | NBCUniversal Media LLC [Member]
Financial Data by Business Segment
Revenue	2,452	2,125	8,340	6,574
Filmed Entertainment [Member]
Financial Data by Business Segment
Revenue	1,819	1,753	5,176	5,862
Filmed Entertainment [Member] | NBCUniversal Media LLC [Member]
Financial Data by Business Segment
Revenue	1,819	1,753	5,176	5,862
Theme Parks [Member]
Financial Data by Business Segment
Revenue	1,528	1,550	4,170	3,982
Theme Parks [Member] | NBCUniversal Media LLC [Member]
Financial Data by Business Segment
Revenue	1,528	1,550	4,170	3,982
NBCUniversal Segments [Member]
Financial Data by Business Segment
Revenue	8,625	7,976	26,468	24,147
Adjusted EBITDA	2,066	2,257	6,511	6,350
Depreciation and Amortization	514	507	1,577	1,535
Capital Expenditures	405	354	1,135	977
Cash Paid for Intangible Assets	78	69	374	197
Operating Segments [Member] | Cable Communications [Member]
Financial Data by Business Segment
Revenue	13,787	13,339	41,015	39,646
Adjusted EBITDA	5,615	5,216	16,668	15,683
Depreciation and Amortization	2,071	2,015	6,171	5,928
Capital Expenditures	1,944	2,061	5,398	5,798
Cash Paid for Intangible Assets	353	284	950	897
Operating Segments [Member] | Cable Networks [Member]
Financial Data by Business Segment
Revenue	2,884	2,603	8,994	7,939
Adjusted EBITDA	968	906	3,422	3,076
Depreciation and Amortization	180	179	548	574
Capital Expenditures	11	5	22	15
Cash Paid for Intangible Assets	6	4	15	11
Operating Segments [Member] | Cable Networks [Member] | NBCUniversal Media LLC [Member]
Financial Data by Business Segment
Revenue	2,884	2,603	8,994	7,939
Adjusted EBITDA	968	906	3,422	3,076
Depreciation and Amortization	180	179	548	574
Capital Expenditures	11	5	22	15
Cash Paid for Intangible Assets	6	4	15	11
Operating Segments [Member] | Broadcast Television [Member]
Financial Data by Business Segment
Revenue	2,452	2,125	8,340	6,574
Adjusted EBITDA	321	316	1,245	1,054
Depreciation and Amortization	32	33	106	96
Capital Expenditures	37	66	99	125
Cash Paid for Intangible Assets	0	4	75	11
Operating Segments [Member] | Broadcast Television [Member] | NBCUniversal Media LLC [Member]
Financial Data by Business Segment
Revenue	2,452	2,125	8,340	6,574
Adjusted EBITDA	321	316	1,245	1,054
Depreciation and Amortization	32	33	106	96
Capital Expenditures	37	66	99	125
Cash Paid for Intangible Assets	0	4	75	11
Operating Segments [Member] | Filmed Entertainment [Member]
Financial Data by Business Segment
Revenue	1,819	1,753	5,176	5,862
Adjusted EBITDA	214	383	555	1,041
Depreciation and Amortization	26	32	117	79
Capital Expenditures	9	18	24	47
Cash Paid for Intangible Assets	6	6	20	17
Operating Segments [Member] | Filmed Entertainment [Member] | NBCUniversal Media LLC [Member]
Financial Data by Business Segment
Revenue	1,819	1,753	5,176	5,862
Adjusted EBITDA	214	383	555	1,041
Depreciation and Amortization	26	32	117	79
Capital Expenditures	9	18	24	47
Cash Paid for Intangible Assets	6	6	20	17
Operating Segments [Member] | Theme Parks [Member]
Financial Data by Business Segment
Revenue	1,528	1,550	4,170	3,982
Adjusted EBITDA	725	775	1,789	1,723
Depreciation and Amortization	170	166	492	494
Capital Expenditures	269	199	811	671
Cash Paid for Intangible Assets	23	18	158	57
Operating Segments [Member] | Theme Parks [Member] | NBCUniversal Media LLC [Member]
Financial Data by Business Segment
Revenue	1,528	1,550	4,170	3,982
Adjusted EBITDA	725	775	1,789	1,723
Depreciation and Amortization	170	166	492	494
Capital Expenditures	269	199	811	671
Cash Paid for Intangible Assets	23	18	158	57
Corporate, Non-Segment [Member]
Financial Data by Business Segment
Revenue	276	266	922	679
Adjusted EBITDA	(378)	(349)	(1,167)	(845)
Depreciation and Amortization	33	24	72	58
Capital Expenditures	35	19	74	64
Cash Paid for Intangible Assets	14	12	51	42
Corporate, Non-Segment [Member] | NBCUniversal Media LLC [Member]
Financial Data by Business Segment
Revenue	15	15	44	32
Adjusted EBITDA	(161)	(122)	(497)	(542)
Depreciation and Amortization	106	97	314	292
Capital Expenditures	79	66	179	119
Cash Paid for Intangible Assets	43	37	106	101
Corporate, Non-Segment [Member] | NBCUniversal Segments [Member]
Financial Data by Business Segment
Revenue	15	15	44	32
Adjusted EBITDA	(161)	(122)	(497)	(542)
Depreciation and Amortization	106	97	314	292
Capital Expenditures	79	66	179	119
Cash Paid for Intangible Assets	43	37	106	101
Eliminations [Member]
Financial Data by Business Segment
Revenue	(553)	(500)	(1,744)	(1,518)
Adjusted EBITDA	10	9	(38)	30
Depreciation and Amortization	0	0	0	0
Capital Expenditures	0	0	0	0
Cash Paid for Intangible Assets	0	0	0	0
Eliminations [Member] | NBCUniversal Media LLC [Member]
Financial Data by Business Segment
Revenue	(73)	(70)	(256)	(242)
Adjusted EBITDA	(1)	(1)	(3)	(2)
Depreciation and Amortization	0	0	0	0
Capital Expenditures	0	0	0	0
Cash Paid for Intangible Assets	0	0	0	0
Eliminations [Member] | NBCUniversal Segments [Member]
Financial Data by Business Segment
Revenue	(73)	(70)	(256)	(242)
Adjusted EBITDA	(1)	(1)	(3)	(2)
Depreciation and Amortization	0	0	0	0
Capital Expenditures	0	0	0	0
Cash Paid for Intangible Assets	$ 0	$ 0	$ 0	$ 0

XML

Segment Information (Reconciliation of Adjusted EBITDA from Segment to Consolidated Statements) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted EBITDA	$ 7,313	$ 7,133	$ 21,974	$ 21,218
Adjustment for legal settlement	0	(250)	0	(250)
Depreciation	(2,038)	(1,991)	(6,070)	(5,876)
Amortization	(580)	(555)	(1,750)	(1,645)
Other operating gains	141	442	341	442
Interest expense	(830)	(766)	(2,413)	(2,279)
Investment and other income (loss), net	(111)	70	92	299
Income before income taxes	3,895	4,083	12,174	11,909
NBCUniversal Media LLC [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted EBITDA	2,066	2,257	6,511	6,350
Depreciation	(250)	(253)	(750)	(749)
Amortization	(264)	(254)	(827)	(786)
Other operating gains	141	337	141	337
Interest expense	(134)	(139)	(394)	(431)
Investment and other income (loss), net	(205)	(26)	(377)	(42)
Income before income taxes	$ 1,354	$ 1,922	$ 4,304	$ 4,679

XML

Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Disaggregation of Revenue [Line Items]
Revenue	$ 22,135	$ 21,081	$ 66,661	$ 62,954
Cable Communications [Member]
Disaggregation of Revenue [Line Items]
Revenue	13,787	13,339	41,015	39,646
Cable Communications [Member] | Residential, Video [Member]
Disaggregation of Revenue [Line Items]
Revenue	5,591	5,760	16,878	17,206
Cable Communications [Member] | Residential, High-Speed Internet [Member]
Disaggregation of Revenue [Line Items]
Revenue	4,321	3,942	12,740	11,682
Cable Communications [Member] | Residential, Voice [Member]
Disaggregation of Revenue [Line Items]
Revenue	982	1,013	2,982	3,081
Cable Communications [Member] | Business Services [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,803	1,629	5,290	4,757
Cable Communications [Member] | Advertising [Member]
Disaggregation of Revenue [Line Items]
Revenue	684	594	1,932	1,774
Cable Communications [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 406	$ 401	$ 1,193	$ 1,146
Cable Communications [Member] | Franchise And Other Regulatory Fees [Member]
Disaggregation of Revenue [Line Items]
Cable segment revenue types as percentage of total cable revenue	2.60%	2.80%	2.70%	2.80%
Cable Networks [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 2,884	$ 2,603	$ 8,994	$ 7,939
Cable Networks [Member] | Distribution [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,680	1,533	5,251	4,645
Cable Networks [Member] | Advertising [Member]
Disaggregation of Revenue [Line Items]
Revenue	820	787	2,746	2,519
Cable Networks [Member] | Content Licensing And Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	384	283	997	775
Broadcast Television [Member]
Disaggregation of Revenue [Line Items]
Revenue	2,452	2,125	8,340	6,574
Broadcast Television [Member] | Advertising [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,355	1,241	5,107	3,790
Broadcast Television [Member] | Content Licensing [Member]
Disaggregation of Revenue [Line Items]
Revenue	538	432	1,541	1,458
Broadcast Television [Member] | Distribution And Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	559	452	1,692	1,326
Filmed Entertainment [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,819	1,753	5,176	5,862
Filmed Entertainment [Member] | Theatrical [Member]
Disaggregation of Revenue [Line Items]
Revenue	601	515	1,564	2,003
Filmed Entertainment [Member] | Content Licensing [Member]
Disaggregation of Revenue [Line Items]
Revenue	719	662	2,100	2,080
Filmed Entertainment [Member] | Home Entertainment [Member]
Disaggregation of Revenue [Line Items]
Revenue	260	299	733	919
Filmed Entertainment [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	239	277	779	860
Theme Parks [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,528	1,550	4,170	3,982
NBCUniversal Segments [Member]
Disaggregation of Revenue [Line Items]
Revenue	8,625	7,976	26,468	24,147
Corporate, Non-Segment [Member]
Disaggregation of Revenue [Line Items]
Revenue	276	266	922	679
Corporate, Non-Segment [Member] | NBCUniversal Segments [Member]
Disaggregation of Revenue [Line Items]
Revenue	15	15	44	32
Eliminations [Member]
Disaggregation of Revenue [Line Items]
Revenue	(553)	(500)	(1,744)	(1,518)
Eliminations [Member] | NBCUniversal Segments [Member]
Disaggregation of Revenue [Line Items]
Revenue	(73)	(70)	(256)	(242)
NBCUniversal Media LLC [Member]
Disaggregation of Revenue [Line Items]
Revenue	8,625	7,976	26,468	24,147
NBCUniversal Media LLC [Member] | Cable Networks [Member]
Disaggregation of Revenue [Line Items]
Revenue	2,884	2,603	8,994	7,939
NBCUniversal Media LLC [Member] | Cable Networks [Member] | Distribution [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,680	1,533	5,251	4,645
NBCUniversal Media LLC [Member] | Cable Networks [Member] | Advertising [Member]
Disaggregation of Revenue [Line Items]
Revenue	820	787	2,746	2,519
NBCUniversal Media LLC [Member] | Cable Networks [Member] | Content Licensing And Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	384	283	997	775
NBCUniversal Media LLC [Member] | Broadcast Television [Member]
Disaggregation of Revenue [Line Items]
Revenue	2,452	2,125	8,340	6,574
NBCUniversal Media LLC [Member] | Broadcast Television [Member] | Advertising [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,355	1,241	5,107	3,790
NBCUniversal Media LLC [Member] | Broadcast Television [Member] | Content Licensing [Member]
Disaggregation of Revenue [Line Items]
Revenue	538	432	1,541	1,458
NBCUniversal Media LLC [Member] | Broadcast Television [Member] | Distribution And Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	559	452	1,692	1,326
NBCUniversal Media LLC [Member] | Filmed Entertainment [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,819	1,753	5,176	5,862
NBCUniversal Media LLC [Member] | Filmed Entertainment [Member] | Theatrical [Member]
Disaggregation of Revenue [Line Items]
Revenue	601	515	1,564	2,003
NBCUniversal Media LLC [Member] | Filmed Entertainment [Member] | Content Licensing [Member]
Disaggregation of Revenue [Line Items]
Revenue	719	662	2,100	2,080
NBCUniversal Media LLC [Member] | Filmed Entertainment [Member] | Home Entertainment [Member]
Disaggregation of Revenue [Line Items]
Revenue	260	299	733	919
NBCUniversal Media LLC [Member] | Filmed Entertainment [Member] | Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	239	277	779	860
NBCUniversal Media LLC [Member] | Theme Parks [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,528	1,550	4,170	3,982
NBCUniversal Media LLC [Member] | Corporate, Non-Segment [Member]
Disaggregation of Revenue [Line Items]
Revenue	15	15	44	32
NBCUniversal Media LLC [Member] | Eliminations [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ (73)	$ (70)	$ (256)	$ (242)

XML

Revenue (Revenue by Geographic Location) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Disaggregation of Revenue [Line Items]
Revenue	$ 22,135	$ 21,081	$ 66,661	$ 62,954
United States
Disaggregation of Revenue [Line Items]
Revenue	20,244	19,142	61,060	57,047
Foreign
Disaggregation of Revenue [Line Items]
Revenue	1,891	1,939	5,601	5,907
NBCUniversal Media LLC [Member]
Disaggregation of Revenue [Line Items]
Revenue	8,625	7,976	26,468	24,147
NBCUniversal Media LLC [Member] | United States
Disaggregation of Revenue [Line Items]
Revenue	6,758	6,088	20,945	18,344
NBCUniversal Media LLC [Member] | Foreign
Disaggregation of Revenue [Line Items]
Revenue	$ 1,867	$ 1,888	$ 5,523	$ 5,803

XML

Revenue (Narrative) (Details)	9 Months Ended
	Sep. 30, 2018
Cable Communications [Member] | Residential [Member]
Revenue [Line Items]
Term of contract	2 years
Cable Communications [Member] | Business Services [Member]
Revenue [Line Items]
Timing period of recognition	2 years
Annual revenue that estimates remaining performance obligations	6 months
Cable Communications [Member] | Business Services [Member] | Minimum [Member]
Revenue [Line Items]
Term of contract	2 years
Cable Communications [Member] | Business Services [Member] | Maximum [Member]
Revenue [Line Items]
Term of contract	5 years
Cable Communications [Member] | Advertising [Member] | Minimum [Member]
Revenue [Line Items]
Expected Payment Terms	30 days
Cable Communications [Member] | Advertising [Member] | Maximum [Member]
Revenue [Line Items]
Expected Payment Terms	60 days
Cable Networks [Member] | Distribution [Member] | Minimum [Member]
Revenue [Line Items]
Expected Payment Terms	30 days
Cable Networks [Member] | Distribution [Member] | Maximum [Member]
Revenue [Line Items]
Expected Payment Terms	60 days
Cable Networks [Member] | Advertising [Member]
Revenue [Line Items]
Expected Payment Terms	30 days
Broadcast Television [Member] | Distribution [Member] | Minimum [Member]
Revenue [Line Items]
Expected Payment Terms	30 days
Broadcast Television [Member] | Distribution [Member] | Maximum [Member]
Revenue [Line Items]
Expected Payment Terms	60 days
Broadcast Television [Member] | Advertising [Member]
Revenue [Line Items]
Expected Payment Terms	30 days
Filmed Entertainment [Member] | Theatrical [Member]
Revenue [Line Items]
Expected Payment Terms	60 days
Filmed Entertainment [Member] | Content Licensing [Member]
Revenue [Line Items]
Timing period of recognition	2 years
Filmed Entertainment [Member] | Content Licensing [Member] | Minimum [Member]
Revenue [Line Items]
Annual revenue that estimates remaining performance obligations	1 year
Filmed Entertainment [Member] | Content Licensing [Member] | Maximum [Member]
Revenue [Line Items]
Annual revenue that estimates remaining performance obligations	2 years
Filmed Entertainment [Member] | Home Entertainment [Member] | Minimum [Member]
Revenue [Line Items]
Expected Payment Terms	60 days
Filmed Entertainment [Member] | Home Entertainment [Member] | Maximum [Member]
Revenue [Line Items]
Expected Payment Terms	90 days
NBCUniversal Media LLC [Member] | Cable Networks [Member] | Distribution [Member] | Minimum [Member]
Revenue [Line Items]
Expected Payment Terms	30 days
NBCUniversal Media LLC [Member] | Cable Networks [Member] | Distribution [Member] | Maximum [Member]
Revenue [Line Items]
Expected Payment Terms	60 days
NBCUniversal Media LLC [Member] | Cable Networks [Member] | Advertising [Member]
Revenue [Line Items]
Expected Payment Terms	30 days
NBCUniversal Media LLC [Member] | Broadcast Television [Member] | Distribution [Member] | Minimum [Member]
Revenue [Line Items]
Expected Payment Terms	30 days
NBCUniversal Media LLC [Member] | Broadcast Television [Member] | Distribution [Member] | Maximum [Member]
Revenue [Line Items]
Expected Payment Terms	60 days
NBCUniversal Media LLC [Member] | Broadcast Television [Member] | Advertising [Member]
Revenue [Line Items]
Expected Payment Terms	30 days
NBCUniversal Media LLC [Member] | Filmed Entertainment [Member] | Theatrical [Member]
Revenue [Line Items]
Expected Payment Terms	60 days
NBCUniversal Media LLC [Member] | Filmed Entertainment [Member] | Content Licensing [Member]
Revenue [Line Items]
Timing period of recognition	2 years
NBCUniversal Media LLC [Member] | Filmed Entertainment [Member] | Content Licensing [Member] | Minimum [Member]
Revenue [Line Items]
Annual revenue that estimates remaining performance obligations	1 year
NBCUniversal Media LLC [Member] | Filmed Entertainment [Member] | Content Licensing [Member] | Maximum [Member]
Revenue [Line Items]
Annual revenue that estimates remaining performance obligations	2 years
NBCUniversal Media LLC [Member] | Filmed Entertainment [Member] | Home Entertainment [Member] | Minimum [Member]
Revenue [Line Items]
Expected Payment Terms	60 days
NBCUniversal Media LLC [Member] | Filmed Entertainment [Member] | Home Entertainment [Member] | Maximum [Member]
Revenue [Line Items]
Expected Payment Terms	90 days

XML

Revenue (Condensed Consolidated Balance Sheet) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Condensed Consolidated Balance Sheet [Line Items]
Receivables, gross	$ 9,300	$ 9,122
Less: Allowance for doubtful accounts	317	288
Receivables, net	8,983	8,834
NBCUniversal Media LLC [Member]
Condensed Consolidated Balance Sheet [Line Items]
Receivables, gross	6,951	7,055
Less: Allowance for doubtful accounts	100	88
Receivables, net	6,851	6,967
Accounting Standards Update 2014-09 [Member]
Condensed Consolidated Balance Sheet [Line Items]
Noncurrent receivables, net (included in other noncurrent assets, net)	1,207	1,184
Contract acquisition and fulfillment costs (included in other noncurrent assets, net)	928	922
Noncurrent deferred revenue (included in other noncurrent liabilities)	572	497
Accounting Standards Update 2014-09 [Member] | NBCUniversal Media LLC [Member]
Condensed Consolidated Balance Sheet [Line Items]
Noncurrent receivables, net (included in other noncurrent assets, net)	1,098	1,093
Noncurrent deferred revenue (included in other noncurrent liabilities)	$ 451	$ 392

XML

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Earnings Per Share [Abstract]
Net Income Attributable to Comcast Corporation	$ 2,886	$ 2,642	$ 9,220	$ 7,736
Basic EPS attributable to Comcast Corporation shareholders (in shares)	4,564	4,698	4,599	4,725
Basic earnings per common share attributable to Comcast Corporation shareholders (in dollars per share)	$ 0.63	$ 0.56	$ 2.00	$ 1.64
Effect of dilutive securities:
Net Income Attributable to Comcast Corporation	$ 2,886	$ 2,642	$ 9,220	$ 7,736
Assumed exercise or issuance of shares relating to stock plans (in shares)	55	79	56	81
Diluted EPS attributable to Comcast Corporation shareholders (in shares)	4,619	4,777	4,655	4,806
Diluted earnings per common share attributable to Comcast Corporation shareholders (in dollars per share)	$ 0.62	$ 0.55	$ 1.98	$ 1.61

XML

Long-Term Debt (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Debt Instrument [Line Items]
Total debt	$ 72,900
Fair value of debt	74,500
Proceeds from borrowings	9,850	$ 11,460
Repurchases and repayments of debt	4,405	5,021
NBCUniversal Media LLC [Member]
Debt Instrument [Line Items]
Total debt	12,600
Fair value of debt	12,900
Proceeds from borrowings	485	3,948
Repurchases and repayments of debt	387	$ 3,450
Universal Beijing Resort term loans [Member]
Debt Instrument [Line Items]
Proceeds from borrowings	386
Universal Beijing Resort term loans [Member] | NBCUniversal Media LLC [Member]
Debt Instrument [Line Items]
Proceeds from borrowings	386
Universal Studios Japan Term Loans Maturing 2022 [Member]
Debt Instrument [Line Items]
Repurchases and repayments of debt	362
Universal Studios Japan Term Loans Maturing 2022 [Member] | NBCUniversal Media LLC [Member]
Debt Instrument [Line Items]
Repurchases and repayments of debt	$ 362

XML

Long-Term Debt (Debt Borrowings) (Details) $ in Millions, £ in Billions	9 Months Ended
	Sep. 30, 2018 USD ($)	Sep. 30, 2017 USD ($)	Sep. 30, 2018 GBP (£)
Debt Instrument [Line Items]
Proceeds from borrowings	$ 9,850	$ 11,460
Other [Member]
Debt Instrument [Line Items]
Other	51
Universal Beijing Resort term loans [Member]
Debt Instrument [Line Items]
Proceeds from borrowings	386
Unsecured Debt [Member] | Comcast Sterling-denominated term loan due 2021 [Member]
Debt Instrument [Line Items]
Debt face amount	3,913		£ 3.0
Senior Notes [Member] | Senior 3.90% notes due 2038 [Member]
Debt Instrument [Line Items]
Debt face amount	$ 1,200
Interest rate	3.90%		3.90%
Senior Notes [Member] | Senior 3.55% notes due 2028 [Member]
Debt Instrument [Line Items]
Debt face amount	$ 1,000
Interest rate	3.55%		3.55%
Senior Notes [Member] | Senior 4.00% notes due 2048 [Member]
Debt Instrument [Line Items]
Debt face amount	$ 1,000
Interest rate	4.00%		4.00%
Senior Notes [Member] | Senior 4.25% notes due 2053 [Member]
Debt Instrument [Line Items]
Debt face amount	$ 800
Interest rate	4.25%		4.25%
Comcast revolving credit facility [Member]
Debt Instrument [Line Items]
Revolving credit facility	$ 1,500

XML

Long-Term Debt (Debt Repayments) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Debt Instrument [Line Items]
Repurchases and repayments of debt	$ 4,405	$ 5,021
NBCUniversal Enterprise 1.662% senior notes due 2018 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Repurchases and repayments of debt	$ 1,100
Interest rate	1.662%
Senior 5.70% notes due 2018 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Repurchases and repayments of debt	$ 1,000
Interest rate	5.70%
Senior 5.875% notes due 2018 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Repurchases and repayments of debt	$ 900
Interest rate	5.875%
NBCUniveral Enterprise senior floating rate notes due 2018 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Repurchases and repayments of debt	$ 700
Universal Studios Japan term loans maturing 2022
Debt Instrument [Line Items]
Repurchases and repayments of debt	362
Other [Member]
Debt Instrument [Line Items]
Repurchases and repayments of debt	$ 343

XML

Long-Term Debt (Revolving Credit Facilities) (Details) - Revolving Credit Facility [Member] $ in Millions	Sep. 30, 2018 USD ($)
Line of Credit Facility [Line Items]
Amount outstanding	$ 1,500
Amounts available under revolving credit facilities	3,800
NBCUniversal Enterprise [Member]
Line of Credit Facility [Line Items]
Amounts available under revolving credit facilities	$ 823

XML

Long-Term Debt (Commercial Paper Programs) (Details) - Commercial Paper [Member] $ in Millions	Sep. 30, 2018 USD ($)
Short-term Debt [Line Items]
Commercial paper outstanding	$ 3,000
Comcast [Member]
Short-term Debt [Line Items]
Commercial paper outstanding	3,000
NBCUniversal Enterprise [Member]
Short-term Debt [Line Items]
Commercial paper outstanding	$ 794

XML

Long-Term Debt (Cross-Guarantee Structure) (Details) - NBCUniversal Media LLC [Member]	Oct. 31, 2018 USD ($)	Oct. 31, 2018 GBP (£)	Sep. 30, 2018 USD ($)	Sep. 30, 2018 GBP (£)
Debt Instrument [Line Items]
Ownership in cable holding company subsidiaries			100.00%	100.00%
NBCUniversal Enterprise [Member]
Debt Instrument [Line Items]
Related party aggregate principal amount senior notes not subject to guarantee			$ 3,000,000,000
Related party credit facility not subject to guarantee			1,600,000,000
Related party liquidation preference preferred stock not subject to guarantee			725,000,000
Comcast Unsecured Sterling-Denominated Term Loan Credit Agreement [Member] | Unsecured Debt [Member]
Debt Instrument [Line Items]
Borrowings of debt securities subject to guarantee			3,900,000,000	£ 3,000,000,000
Maximum borrowing capacity under term loan subject to guarantee | £				£ 7,000,000,000
Comcast Unsecured Sterling-Denominated Term Loan Credit Agreement [Member] | Unsecured Debt [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Borrowings of debt securities subject to guarantee	$ 4,800,000,000	£ 3,600,000,000
Comcast and Comcast Cable Debt Securities [Member]
Debt Instrument [Line Items]
Principal amount of debt securities subject to guarantee			58,700,000,000
Comcast Senior Notes, Fixed and Floating Rates [Member] | Senior Notes [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Borrowings of debt securities subject to guarantee	27,000,000,000
Comcast Unsecured Dollar-Denominated Term Loan Credit Agreement [Member] | Unsecured Debt [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Borrowings of debt securities subject to guarantee	3,000,000,000
Maximum borrowing capacity under term loan subject to guarantee	$ 3,000,000,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Guarantee obligations, maximum capacity			$ 7,600,000,000

XML

Significant Transactions (Sky Offer) (Details)	Oct. 09, 2018 USD ($)	Oct. 09, 2018 GBP (£)	Oct. 31, 2018 USD ($)	Oct. 31, 2018 GBP (£)	Oct. 09, 2018 £ / shares	Sep. 30, 2018 USD ($)	Sep. 30, 2018 GBP (£)
Commercial Paper [Member]
Business Acquisition [Line Items]
Commercial paper outstanding						$ 3,000,000,000
Revolving Credit Facility [Member]
Business Acquisition [Line Items]
Amount outstanding						1,500,000,000
Sky Outstanding Indebtedness [Member] | Subsequent Event [Member]
Business Acquisition [Line Items]
Principal amount of debt securities not subject to guarantee	$ 11,000,000,000
Unsecured Debt [Member] | Comcast Unsecured Sterling-Denominated Term Loan Credit Agreement [Member]
Business Acquisition [Line Items]
Debt issued to finance cash consideration						$ 3,913,000,000	£ 3,000,000,000
Maximum borrowing capacity under term loans | £							£ 7,000,000,000.0
Unsecured Debt [Member] | Comcast Unsecured Sterling-Denominated Term Loan Credit Agreement [Member] | Subsequent Event [Member]
Business Acquisition [Line Items]
Debt issued to finance cash consideration			$ 4,800,000,000	£ 3,600,000,000
Unsecured Debt [Member] | Comcast Unsecured Dollar-Denominated Term Loan Credit Agreement [Member] | Subsequent Event [Member]
Business Acquisition [Line Items]
Debt issued to finance cash consideration			3,000,000,000
Maximum borrowing capacity under term loans			3,000,000,000
Senior Notes [Member] | Comcast Senior Notes, Fixed and Floating Rates [Member] | Subsequent Event [Member]
Business Acquisition [Line Items]
Debt issued to finance cash consideration			$ 27,000,000,000
Sky PLC [Member] | Subsequent Event [Member]
Business Acquisition [Line Items]
Shares acquired, share price (in gbp per share) | £ / shares					£ 17.28
Minimum percentage of issued share capital acquired	90.00%
Cash consideration	$ 39,400,000,000	£ 30,200,000,000

XML

Significant Transactions (Acquisition-Related Expenses) (Details) - Sky PLC [Member] - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018
Business Acquisition [Line Items]
Transaction expenses	$ 8	$ 29
Interest expense	$ 34	$ 45

XML

Significant Transactions (Universal Beijing Resort) (Details) $ in Millions, ¥ in Billions	9 Months Ended
	Sep. 30, 2018 USD ($)	Sep. 30, 2017 USD ($)	Sep. 30, 2018 CNY (¥)
Variable Interest Entity [Line Items]
Proceeds from borrowings	$ 9,850	$ 11,460
Universal Beijing Resort [Member]
Variable Interest Entity [Line Items]
Ownership percentage in variable interest entity	30.00%		30.00%
Maximum borrowing capacity of variable interest entity	$ 4,000		¥ 26.6
Consolidated variable interest entity's assets included in condensed consolidated balance sheet	1,200
Consolidated variable interest entity's liabilities included in condensed consolidated balance sheet	728
Universal Beijing Resort term loans [Member]
Variable Interest Entity [Line Items]
Proceeds from borrowings	386
NBCUniversal Media LLC [Member]
Variable Interest Entity [Line Items]
Proceeds from borrowings	$ 485	$ 3,948
NBCUniversal Media LLC [Member] | Universal Beijing Resort [Member]
Variable Interest Entity [Line Items]
Ownership percentage in variable interest entity	30.00%		30.00%
Maximum borrowing capacity of variable interest entity	$ 4,000		¥ 26.6
Consolidated variable interest entity's assets included in condensed consolidated balance sheet	1,200
Consolidated variable interest entity's liabilities included in condensed consolidated balance sheet	728
NBCUniversal Media LLC [Member] | Universal Beijing Resort term loans [Member]
Variable Interest Entity [Line Items]
Proceeds from borrowings	$ 386

XML

Significant Transactions (FCC Spectrum Auction) (Details) - FCC Spectrum [Member] - USD ($) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Jul. 31, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017
Indefinite-lived Intangible Assets [Line Items]
Proceeds from FCC spectrum auction	$ 482
Gain on sale of spectrum rights		$ 337		$ 337
Amount of spectrum acquired		1,700		1,700
Deposit to acquire intangible asset			$ 1,800
NBCUniversal Media LLC [Member]
Indefinite-lived Intangible Assets [Line Items]
Proceeds from FCC spectrum auction	$ 482
Gain on sale of spectrum rights		$ 337		$ 337

XML

Significant Transaction (Universal Studios Japan) (Details) - USD ($) $ in Millions		9 Months Ended
	Apr. 06, 2017	Sep. 30, 2018	Sep. 30, 2017
Business Acquisition [Line Items]
Purchase of Universal Studios Japan noncontrolling interests		$ 0	$ 2,299
NBCUniversal Media LLC [Member]
Business Acquisition [Line Items]
Purchase of Universal Studios Japan noncontrolling interests		$ 0	$ 2,299
Universal Studios Japan [Member]
Business Acquisition [Line Items]
Purchase of Universal Studios Japan noncontrolling interests	$ 2,300
Universal Studios Japan [Member] | NBCUniversal Media LLC [Member]
Business Acquisition [Line Items]
Purchase of Universal Studios Japan noncontrolling interests	$ 2,300

XML

Recent Accounting Pronouncements and Tax Reform (Effect of Changes in Revenue Recognition - Statement of Income) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue	$ 22,135	$ 21,081	$ 66,661	$ 62,954
Total costs and expenses	17,299	16,302	52,166	49,065
Operating income	4,836	4,779	14,495	13,889
Net Income Attributable to Comcast Corporation	2,886	2,642	9,220	7,736
NBCUniversal Media LLC [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue	8,625	7,976	26,468	24,147
Total costs and expenses	6,932	5,889	21,393	18,995
Operating income	1,693	2,087	5,075	5,152
Net Income Attributable to Comcast Corporation	$ 1,231	1,807	$ 3,991	4,288
Previous Reported [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue		20,983		62,611
Total costs and expenses		16,191		48,731
Operating income		4,792		13,880
Net Income Attributable to Comcast Corporation		2,650		7,729
Previous Reported [Member] | NBCUniversal Media LLC [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue		8,014		24,213
Total costs and expenses		5,909		19,048
Operating income		2,105		5,165
Net Income Attributable to Comcast Corporation		1,825		4,301
Effects of Adoption [Member] | Accounting Standards Update 2014-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue		98		343
Total costs and expenses		111		334
Operating income		(13)		9
Net Income Attributable to Comcast Corporation		(8)		7
Effects of Adoption [Member] | Accounting Standards Update 2014-09 [Member] | NBCUniversal Media LLC [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue		(38)		(66)
Total costs and expenses		(20)		(53)
Operating income		(18)		(13)
Net Income Attributable to Comcast Corporation		$ (18)		$ (13)

XML

Recent Accounting Pronouncements and Tax Reform (Effects of Changes in Revenue Recognition - Balance Sheet) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total current assets	$ 23,206	$ 16,343
Film and television costs	7,377	7,087
Other intangible assets, net	18,649	18,133
Other noncurrent assets, net	7,756	4,354
Assets	200,635	187,462
Total current liabilities	19,627	21,993
Deferred income taxes	25,167	24,259
Other noncurrent liabilities	12,468	10,972
Total equity	72,345	69,459	$ 56,258	$ 56,163
Total liabilities and equity	200,635	187,462
NBCUniversal Media LLC [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total current assets	11,870	11,957
Film and television costs	7,369	7,082
Other noncurrent assets, net	1,799	1,804
Assets	72,934	71,300
Total current liabilities	7,542	9,932
Other noncurrent liabilities	5,189	4,153
Total equity	45,712	43,041	$ 42,502	$ 40,875
Total liabilities and equity	$ 72,934	71,300
Previous Reported [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total current assets		16,060
Film and television costs		7,076
Other intangible assets, net		18,779
Other noncurrent assets, net		3,489
Assets		186,949
Total current liabilities		21,561
Deferred income taxes		24,256
Other noncurrent liabilities		10,904
Total equity		69,449
Total liabilities and equity		186,949
Previous Reported [Member] | NBCUniversal Media LLC [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total current assets		11,673
Film and television costs		7,071
Other noncurrent assets, net		1,872
Assets		71,073
Total current liabilities		9,602
Other noncurrent liabilities		4,109
Total equity		43,188
Total liabilities and equity		71,073
Effects of Adoption [Member] | Accounting Standards Update 2014-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total current assets		283
Film and television costs		11
Other intangible assets, net		(646)
Other noncurrent assets, net		865
Assets		513
Total current liabilities		432
Deferred income taxes		3
Other noncurrent liabilities		68
Total equity		10
Total liabilities and equity		513
Effects of Adoption [Member] | Accounting Standards Update 2014-09 [Member] | NBCUniversal Media LLC [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Total current assets		284
Film and television costs		11
Other noncurrent assets, net		(68)
Assets		227
Total current liabilities		330
Other noncurrent liabilities		44
Total equity		(147)
Total liabilities and equity		$ 227

XML

Recent Accounting Pronouncements and Tax Reform (Effect of Changes in Revenue Recognition - Cable Communications Segment) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue	$ 22,135	$ 21,081	$ 66,661	$ 62,954
Depreciation and Amortization	2,618	2,546	7,820	7,521
Cable Communications [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue	13,787	13,339	41,015	39,646
Operating costs and expenses		8,123		23,963
Depreciation and Amortization		2,015		5,928
Residential, Video [Member] | Cable Communications [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue	5,591	5,760	16,878	17,206
Residential, High-Speed Internet [Member] | Cable Communications [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue	4,321	3,942	12,740	11,682
Residential, Voice [Member] | Cable Communications [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue	982	1,013	2,982	3,081
Business Services [Member] | Cable Communications [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue	1,803	1,629	5,290	4,757
Advertising [Member] | Cable Communications [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue	684	594	1,932	1,774
Other [Member] | Cable Communications [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue	$ 406	401	$ 1,193	1,146
Previous Reported [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue		20,983		62,611
Previous Reported [Member] | Cable Communications [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue		13,203		39,237
Operating costs and expenses		7,957		23,473
Depreciation and Amortization		2,049		6,030
Previous Reported [Member] | Residential, Video [Member] | Cable Communications [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue		5,825		17,396
Previous Reported [Member] | Residential, High-Speed Internet [Member] | Cable Communications [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue		3,709		10,994
Previous Reported [Member] | Residential, Voice [Member] | Cable Communications [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue		840		2,559
Previous Reported [Member] | Business Services [Member] | Cable Communications [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue		1,575		4,596
Previous Reported [Member] | Advertising [Member] | Cable Communications [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue		542		1,628
Previous Reported [Member] | Other [Member] | Cable Communications [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue		712		2,064
Effects of Adoption [Member] | Accounting Standards Update 2014-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue		98		343
Effects of Adoption [Member] | Accounting Standards Update 2014-09 [Member] | Cable Communications [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue		136		409
Operating costs and expenses		166		490
Depreciation and Amortization		(34)		(102)
Effects of Adoption [Member] | Accounting Standards Update 2014-09 [Member] | Residential, Video [Member] | Cable Communications [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue		(65)		(190)
Effects of Adoption [Member] | Accounting Standards Update 2014-09 [Member] | Residential, High-Speed Internet [Member] | Cable Communications [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue		233		688
Effects of Adoption [Member] | Accounting Standards Update 2014-09 [Member] | Residential, Voice [Member] | Cable Communications [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue		173		522
Effects of Adoption [Member] | Accounting Standards Update 2014-09 [Member] | Business Services [Member] | Cable Communications [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue		54		161
Effects of Adoption [Member] | Accounting Standards Update 2014-09 [Member] | Advertising [Member] | Cable Communications [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue		52		146
Effects of Adoption [Member] | Accounting Standards Update 2014-09 [Member] | Other [Member] | Cable Communications [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue		$ (311)		$ (918)

XML

Recent Accounting Pronouncements and Tax Reform (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Jan. 01, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Income tax benefit, 2017 tax reform legislation		$ 12,700
Income tax benefit, 2018 tax reform legislation	$ 128
Cumulative Effect of New Accounting Principle in Period of Adoption		33
NBCUniversal Media LLC [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect of New Accounting Principle in Period of Adoption		0
Member's Capital [Member] | NBCUniversal Media LLC [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect of New Accounting Principle in Period of Adoption		(232)
AOCI Attributable to Parent [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect of New Accounting Principle in Period of Adoption		76
AOCI Attributable to Parent [Member] | NBCUniversal Media LLC [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect of New Accounting Principle in Period of Adoption		$ 232
Accounting Standards Update 2016-01 [Member] | Member's Capital [Member] | NBCUniversal Media LLC [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect of New Accounting Principle in Period of Adoption			$ (232)
Accounting Standards Update 2016-01 [Member] | AOCI Attributable to Parent [Member] | NBCUniversal Media LLC [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative Effect of New Accounting Principle in Period of Adoption			$ 232

XML

Film and Television Costs (Film and Television Costs) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Film Costs:
Released, less amortization	$ 1,573	$ 1,734
Completed, not released	242	50
In production and in development	1,010	1,149
Total film costs	2,825	2,933
Television Costs:
Released, less amortization	2,286	2,260
In production and in development	905	818
Total television costs	3,191	3,078
Programming rights, less amortization	2,584	2,689
Total film costs, television costs and programming rights	8,600	8,700
Less: Current portion of programming rights	1,223	1,613
Film and television costs	7,377	7,087
NBCUniversal Media LLC [Member]
Film Costs:
Released, less amortization	1,573	1,734
Completed, not released	242	50
In production and in development	1,010	1,149
Total film costs	2,825	2,933
Television Costs:
Released, less amortization	2,286	2,260
In production and in development	905	818
Total television costs	3,191	3,078
Programming rights, less amortization	2,566	2,677
Total film costs, television costs and programming rights	8,582	8,688
Less: Current portion of programming rights	1,213	1,606
Film and television costs	$ 7,369	$ 7,082

XML

Investments (Schedule of Investments) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Schedule of Investments [Line Items]
Equity method	$ 4,163	$ 3,546
Marketable equity securities	322	433
Nonmarketable equity securities	1,528	1,186
Other investments	1,798	1,785
Total investments	7,811	6,950
Less: Current investments	87	19
Noncurrent investments	7,724	6,931
NBCUniversal Media LLC [Member]
Schedule of Investments [Line Items]
Equity method	660	690
Marketable equity securities	249	430
Nonmarketable equity securities	813	696
Total investments	1,722	1,816
Noncurrent investments	$ 1,722	$ 1,816

XML

Investments (Investment and Other Income (Loss), Net) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Investment and Other Income (Loss), Net [Line Items]
Equity in net income (losses) of investees, net	$ (76)	$ (39)	$ (56)	$ 12
Realized and unrealized gains (losses) on equity securities, net	(38)	7	(50)	0
Other income (loss), net	3	102	198	287
Investment and other income (loss), net	(111)	70	92	299
NBCUniversal Media LLC [Member]
Investment and Other Income (Loss), Net [Line Items]
Equity in net income (losses) of investees, net	(119)	(52)	(306)	(107)
Realized and unrealized gains (losses) on equity securities, net	(91)	0	(128)	2
Other income (loss), net	5	26	57	63
Investment and other income (loss), net	$ (205)	$ (26)	$ (377)	$ (42)

XML

Investments (Equity Method) (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended			9 Months Ended
	Mar. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Feb. 28, 2018	Jan. 31, 2018	Dec. 31, 2017
Schedule of Equity Method Investments [Line Items]
Equity method investments		$ 4,163			$ 4,163				$ 3,546
Equity in net income (losses) of investees, net		(76)		$ (39)	(56)	$ 12
NBCUniversal Media LLC [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investments		660			660				690
Equity in net income (losses) of investees, net		(119)		(52)	(306)	(107)
Atairos [Member]
Schedule of Equity Method Investments [Line Items]
Funding commitment							$ 5,000	$ 4,000
Equity method investments		2,900			2,900				2,400
Purchases of investments					133	994
Equity in net income (losses) of investees, net		38		7	224	106
Pretax gain, sale of business to Atairos			$ 200	105		105
Hulu [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investments		219			219				249
Cash contributions to equity method investments					341	198
Equity in net income (losses) of investees, net		(132)		(62)	(370)	(168)
Hulu [Member] | NBCUniversal Media LLC [Member]
Schedule of Equity Method Investments [Line Items]
Equity method investments		219			219				$ 249
Cash contributions to equity method investments					341	198
Equity in net income (losses) of investees, net		$ (132)		$ (62)	$ (370)	$ (168)
The Weather Channel [Member]
Schedule of Equity Method Investments [Line Items]
Pretax gain on sale of investment	$ 64
The Weather Channel [Member] | NBCUniversal Media LLC [Member]
Schedule of Equity Method Investments [Line Items]
Pretax gain on sale of investment	$ 64

XML

Investments (Marketable Equity Securities) (Details) - USD ($) $ in Millions		1 Months Ended	3 Months Ended	9 Months Ended
	Mar. 31, 2017	Mar. 31, 2017	Sep. 30, 2018	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Schedule of Marketable Equity Securities [Line Items]
Marketable equity securities			$ 322	$ 322		$ 433
NBCUniversal Media LLC [Member]
Schedule of Marketable Equity Securities [Line Items]
Contribution from member					$ 662
Marketable equity securities			249	249		430
Snap [Member]
Schedule of Marketable Equity Securities [Line Items]
Payments to acquire marketable securities		$ 500
Marketable equity securities			249	249		430
Marketable securities, recognized unrealized gains (losses)			(135)	(180)
Snap [Member] | NBCUniversal Media LLC [Member]
Schedule of Marketable Equity Securities [Line Items]
Contribution from member	$ 662
Marketable equity securities			249	249		$ 430
Marketable securities, recognized unrealized gains (losses)			$ (135)	$ (180)

XML

Investments (Other Investments) (Details) $ in Billions	Sep. 30, 2018 USD ($) preferred_stock_series	Dec. 31, 2017 USD ($)
Level 2 [Member] | AirTouch [Member]
Schedule of Other Investments [Line Items]
Fair value of redeemable preferred shares	$ 1.7
AirTouch [Member]
Schedule of Other Investments [Line Items]
Number of series of preferred stock | preferred_stock_series	2
Held to maturity investment	$ 1.6	$ 1.6
AirTouch [Member] | Level 2 [Member]
Schedule of Other Investments [Line Items]
Fair value of held to maturity investment redeemable preferred shares	$ 1.7

XML

Supplemental Financial Information (Share-Based Compensation) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Mar. 31, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized share-based compensation expense		$ 151	$ 159	$ 458	$ 464
Restricted share units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized share-based compensation expense		94	99	279	284
Unrecognized pretax compensation expense on nonvested awards		914		914
Stock options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized share-based compensation expense		50	52	155	155
Unrecognized pretax compensation expense on nonvested awards		489		489
Employee Stock purchase plans [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized share-based compensation expense		$ 7	$ 8	$ 24	$ 25
Management Grant [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options granted (in shares)	41.0
Weighted average fair value of stock options granted (in dollars per share)	$ 7.15
Management Grant [Member] | Restricted share units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted share units granted (in shares)	12.1
Weighted average fair value of restricted share units granted (in dollars per share)	$ 35.94

XML

Supplemental Financial Information (Cash Payments for Interest and Income Taxes) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Cash Payments for Interest and Income Taxes
Interest	$ 2,240	$ 2,277
Income taxes	1,533	3,415
NBCUniversal Media LLC [Member]
Cash Payments for Interest and Income Taxes
Interest	253	340
Income taxes	$ 373	$ 213

XML

Supplemental Financial Information (Noncash Investing and Financing Activities) (Details) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2018 USD ($) $ / shares
Supplemental Financial Information [Line Items]
Property and equipment and intangible assets accrued but not yet paid	$ 2,100
Dividends payable	$ 864
Dividends payable (in dollars per share) | $ / shares	$ 0.19
NBCUniversal Media LLC [Member]
Supplemental Financial Information [Line Items]
Property and equipment and intangible assets accrued but not yet paid	$ 1,200
Universal Beijing Resort [Member]
Supplemental Financial Information [Line Items]
Assets contributed to variable interest entity	391
Universal Beijing Resort [Member] | NBCUniversal Media LLC [Member]
Supplemental Financial Information [Line Items]
Assets contributed to variable interest entity	$ 391

XML

Supplemental Financial Information (Cash, Cash Equivalents and Restricted Cash) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
Supplemental Financial Information [Line Items]
Cash and cash equivalents	$ 10,616	$ 3,428
Restricted cash included in other current assets	47	60
Restricted cash included in other noncurrent assets, net	3,959	83
Cash, cash equivalents and restricted cash, end of period	14,622	3,571	$ 4,228	$ 3,415
NBCUniversal Media LLC [Member]
Supplemental Financial Information [Line Items]
Cash and cash equivalents	1,181	2,347
Restricted cash included in other noncurrent assets, net	20	30
Cash, cash equivalents and restricted cash, end of period	$ 1,201	$ 2,377	$ 2,038	$ 1,987

XML

Supplemental Financial Information (Components of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized gains (losses) on marketable securities	$ 2		$ (43)
Deferred gains (losses) on cash flow hedges	28		(12)
Unrecognized gains (losses) on employee benefit obligations	294		270
Cumulative translation adjustments	50		166
Accumulated other comprehensive income (loss), net of deferred taxes	374	$ 379	381
NBCUniversal Media LLC [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized gains (losses) on marketable securities	0		(233)
Deferred gains (losses) on cash flow hedges	5		(4)
Unrecognized gains (losses) on employee benefit obligations	115		115
Cumulative translation adjustments	(22)		93
Accumulated other comprehensive income (loss), net of deferred taxes	$ 98	$ (20)	$ (29)

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Related Party Transactions (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Related Party Transaction [Line Items]
Other noncurrent liabilities	$ 12,468		$ 12,468		$ 10,972
Recognized share-based compensation expense	151	$ 159	458	$ 464
NBCUniversal Media LLC [Member]
Related Party Transaction [Line Items]
Other noncurrent liabilities	5,189		5,189		$ 4,153
Recognized share-based compensation expense	37	$ 38	115	$ 103
Carrying Value of Related Party Contractual Obligation [Member] | NBCUniversal Media LLC [Member]
Related Party Transaction [Line Items]
Other noncurrent liabilities	$ 383		$ 383

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Related Party Transactions (Condensed Consolidated Statement of Income) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Related Party Transaction [Line Items]
Revenue	$ 22,135	$ 21,081	$ 66,661	$ 62,954
Total costs and expenses	(17,299)	(16,302)	(52,166)	(49,065)
NBCUniversal Media LLC [Member]
Related Party Transaction [Line Items]
Revenue	8,625	7,976	26,468	24,147
Total costs and expenses	(6,932)	(5,889)	(21,393)	(18,995)
Comcast and Consolidated Subsidiaries [Member] | NBCUniversal Media LLC [Member]
Related Party Transaction [Line Items]
Revenue	506	463	1,580	1,382
Total costs and expenses	(59)	(38)	(162)	(148)
Interest expense and investment and other income (loss), net	$ (9)	$ (20)	$ (52)	$ (67)

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Related Party Transactions (Condensed Consolidated Balance Sheet) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Receivables, net	$ 8,983	$ 8,834
Accounts payable and accrued expenses related to trade creditors	7,036	6,908
Accrued expenses and other current liabilities	5,976	6,620
Long-term debt, less current portion	69,711	59,422
Other noncurrent liabilities	12,468	10,972
NBCUniversal Media LLC [Member]
Related Party Transaction [Line Items]
Receivables, net	6,851	6,967
Note receivable from Comcast	1,522	0
Accounts payable and accrued expenses related to trade creditors	1,665	1,663
Accrued expenses and other current liabilities	1,914	2,394
Note payable to Comcast	41	1,831
Long-term debt, less current portion	12,401	12,275
Other noncurrent liabilities	5,189	4,153
Comcast and Consolidated Subsidiaries [Member] | NBCUniversal Media LLC [Member]
Related Party Transaction [Line Items]
Receivables, net	350	326
Note receivable from Comcast	1,522	0
Accounts payable and accrued expenses related to trade creditors	48	54
Accrued expenses and other current liabilities	20	50
Note payable to Comcast	41	1,831
Long-term debt, less current portion	698	610
Other noncurrent liabilities	$ 394	$ 389

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Commitments and Contingencies (Narrative) (Details) $ in Millions	Sep. 30, 2018 USD ($)
Redeemable Preferred Stock [Member] | Level 2 [Member]
Temporary Equity [Line Items]
Fair Value of Redeemable subsidiary preferred stock	$ 742

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Condensed Consolidating Financial Information (Narrative) (Details) $ in Millions	Sep. 30, 2018 USD ($)
NBCUniversal Enterprise Senior Debt Securities [Member]
Debt Instrument [Line Items]
Principal amount of debt securities subject to guarantee	$ 3,000
NBCUniversal Enterprise Credit Facility [Member]
Debt Instrument [Line Items]
Revolving credit facility subject to guarantee	1,600
Universal Studios Japan Term Loan Maturing March 2022 [Member]
Debt Instrument [Line Items]
Term loans subject to guarantee	3,500
Comcast Holdings' ZONES due October 2029 [Member]
Debt Instrument [Line Items]
Principal amount of debt securities subject to guarantee	185
Comcast Holdings' ZONES due November 2029 [Member]
Debt Instrument [Line Items]
Principal amount of debt securities not subject to guarantee	$ 62

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Condensed Consolidating Financial Information (Condensed Consolidating Statement of Income) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue:
Revenue	$ 22,135	$ 21,081	$ 66,661	$ 62,954
Costs and Expenses:
Programming and production	6,711	6,059	20,440	18,450
Other operating and administrative	6,444	6,535	19,323	18,642
Advertising, marketing and promotion	1,667	1,604	4,924	4,894
Depreciation	2,038	1,991	6,070	5,876
Amortization	580	555	1,750	1,645
Other operating gains	(141)	(442)	(341)	(442)
Total costs and expenses	17,299	16,302	52,166	49,065
Operating income	4,836	4,779	14,495	13,889
Interest expense	(830)	(766)	(2,413)	(2,279)
Investment and other income (loss), net	(111)	70	92	299
Income before income taxes	3,895	4,083	12,174	11,909
Income tax expense	(999)	(1,409)	(2,894)	(4,038)
Net income	2,896	2,674	9,280	7,871
Less: Net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock	10	32	60	135
Net income attributable to Comcast Corporation	2,886	2,642	9,220	7,736
Comprehensive income (loss) attributable to Comcast Corporation	2,799	2,595	9,139	7,825
Elimination and Consolidation Adjustments [Member]
Revenue:
Revenue	(593)	(565)	(1,762)	(1,668)
Costs and Expenses:
Programming and production	0	0	0	0
Other operating and administrative	(593)	(565)	(1,762)	(1,668)
Advertising, marketing and promotion	0	0	0	0
Depreciation	0	0	0	0
Amortization	0	0	0	0
Other operating gains	0	0	0	0
Total costs and expenses	(593)	(565)	(1,762)	(1,668)
Operating income	0	0	0	0
Interest expense	0	0	0	0
Investment and other income (loss), net	(12,438)	(11,423)	(38,519)	(32,739)
Income before income taxes	(12,438)	(11,423)	(38,519)	(32,739)
Income tax expense	0	0	0	0
Net income	(12,438)	(11,423)	(38,519)	(32,739)
Less: Net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock	0	0	0	0
Net income attributable to Comcast Corporation	(12,438)	(11,423)	(38,519)	(32,739)
Comprehensive income (loss) attributable to Comcast Corporation	(12,098)	(11,198)	(38,202)	(32,581)
Comcast Parent [Member] | Reportable Legal Entities [Member]
Revenue:
Revenue	299	285	889	841
Costs and Expenses:
Programming and production	0	0	0	0
Other operating and administrative	208	183	626	553
Advertising, marketing and promotion	0	0	0	0
Depreciation	12	7	34	21
Amortization	1	1	4	4
Other operating gains	0	0	0	0
Total costs and expenses	221	191	664	578
Operating income	78	94	225	263
Interest expense	(600)	(544)	(1,739)	(1,592)
Investment and other income (loss), net	3,299	2,934	10,416	8,600
Income before income taxes	2,777	2,484	8,902	7,271
Income tax expense	109	158	318	465
Net income	2,886	2,642	9,220	7,736
Less: Net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock	0	0	0	0
Net income attributable to Comcast Corporation	2,886	2,642	9,220	7,736
Comprehensive income (loss) attributable to Comcast Corporation	2,799	2,595	9,139	7,825
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Revenue:
Revenue	22,135	21,081	66,661	62,954
Costs and Expenses:
Programming and production	6,711	6,059	20,440	18,450
Other operating and administrative	6,305	6,360	18,814	18,086
Advertising, marketing and promotion	1,667	1,604	4,924	4,894
Depreciation	2,026	1,984	6,036	5,855
Amortization	579	554	1,746	1,641
Other operating gains	(141)	(442)	(341)	(442)
Total costs and expenses	17,147	16,119	51,619	48,484
Operating income	4,988	4,962	15,042	14,470
Interest expense	(66)	(55)	(190)	(175)
Investment and other income (loss), net	1,065	1,845	3,977	4,476
Income before income taxes	5,987	6,752	18,829	18,771
Income tax expense	(1,115)	(1,568)	(3,229)	(4,516)
Net income	4,872	5,184	15,600	14,255
Less: Net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock	10	32	60	135
Net income attributable to Comcast Corporation	4,862	5,152	15,540	14,120
Comprehensive income (loss) attributable to Comcast Corporation	4,663	5,024	15,357	13,993
Comcast Holdings [Member] | Subsidiary Issuer [Member] | Reportable Legal Entities [Member]
Revenue:
Revenue	0	0	0	0
Costs and Expenses:
Programming and production	0	0	0	0
Other operating and administrative	0	0	0	0
Advertising, marketing and promotion	0	0	0	0
Depreciation	0	0	0	0
Amortization	0	0	0	0
Other operating gains	0	0	0	0
Total costs and expenses	0	0	0	0
Operating income	0	0	0	0
Interest expense	(3)	(3)	(9)	(9)
Investment and other income (loss), net	3,380	2,513	10,279	7,841
Income before income taxes	3,377	2,510	10,270	7,832
Income tax expense	(1)	(10)	0	(26)
Net income	3,376	2,500	10,270	7,806
Less: Net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock	0	0	0	0
Net income attributable to Comcast Corporation	3,376	2,500	10,270	7,806
Comprehensive income (loss) attributable to Comcast Corporation	3,349	2,484	10,245	7,804
CCCL Parent [Member] | Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Revenue:
Revenue	294	280	873	827
Costs and Expenses:
Programming and production	0	0	0	0
Other operating and administrative	294	280	873	827
Advertising, marketing and promotion	0	0	0	0
Depreciation	0	0	0	0
Amortization	0	0	0	0
Other operating gains	0	0	0	0
Total costs and expenses	294	280	873	827
Operating income	0	0	0	0
Interest expense	(48)	(48)	(143)	(159)
Investment and other income (loss), net	3,007	1,995	8,832	6,628
Income before income taxes	2,959	1,947	8,689	6,469
Income tax expense	10	17	29	56
Net income	2,969	1,964	8,718	6,525
Less: Net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock	0	0	0	0
Net income attributable to Comcast Corporation	2,969	1,964	8,718	6,525
Comprehensive income (loss) attributable to Comcast Corporation	2,974	1,968	8,723	6,531
NBCUniversal Media Parent [Member] | Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Revenue:
Revenue	0	0	0	0
Costs and Expenses:
Programming and production	0	0	0	0
Other operating and administrative	230	277	772	844
Advertising, marketing and promotion	0	0	0	0
Depreciation	0	0	0	0
Amortization	0	0	0	0
Other operating gains	0	0	0	0
Total costs and expenses	230	277	772	844
Operating income	(230)	(277)	(772)	(844)
Interest expense	(113)	(116)	(332)	(344)
Investment and other income (loss), net	1,576	2,206	5,107	5,493
Income before income taxes	1,233	1,813	4,003	4,305
Income tax expense	(2)	(6)	(12)	(17)
Net income	1,231	1,807	3,991	4,288
Less: Net income (loss) attributable to noncontrolling interests and redeemable subsidiary preferred stock	0	0	0	0
Net income attributable to Comcast Corporation	1,231	1,807	3,991	4,288
Comprehensive income (loss) attributable to Comcast Corporation	1,112	1,722	3,877	4,253
Service [Member]
Revenue:
Revenue	22,135	21,081	66,661	62,954
Service [Member] | Elimination and Consolidation Adjustments [Member]
Revenue:
Revenue	0	0	0	0
Service [Member] | Comcast Parent [Member] | Reportable Legal Entities [Member]
Revenue:
Revenue	0	0	0	0
Service [Member] | Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Revenue:
Revenue	22,135	21,081	66,661	62,954
Service [Member] | Comcast Holdings [Member] | Subsidiary Issuer [Member] | Reportable Legal Entities [Member]
Revenue:
Revenue	0	0	0	0
Service [Member] | CCCL Parent [Member] | Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Revenue:
Revenue	0	0	0	0
Service [Member] | NBCUniversal Media Parent [Member] | Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Revenue:
Revenue	0	0	0	0
Management Fee [Member]
Revenue:
Revenue	0	0	0	0
Management Fee [Member] | Elimination and Consolidation Adjustments [Member]
Revenue:
Revenue	(593)	(565)	(1,762)	(1,668)
Management Fee [Member] | Comcast Parent [Member] | Reportable Legal Entities [Member]
Revenue:
Revenue	299	285	889	841
Management Fee [Member] | Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Revenue:
Revenue	0	0	0	0
Management Fee [Member] | Comcast Holdings [Member] | Subsidiary Issuer [Member] | Reportable Legal Entities [Member]
Revenue:
Revenue	0	0	0	0
Management Fee [Member] | CCCL Parent [Member] | Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Revenue:
Revenue	294	280	873	827
Management Fee [Member] | NBCUniversal Media Parent [Member] | Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Revenue:
Revenue	$ 0	$ 0	$ 0	$ 0

XML

Condensed Consolidating Financial Information (Condensed Consolidating Statement of Cash Flows) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash provided by operating activities			$ 18,507	$ 15,857
Investing Activities
Net transactions with affiliates			0	0
Capital expenditures	$ (2,384)	$ (2,434)	(6,607)	(6,839)
Cash paid for intangible assets	(445)	(365)	(1,375)	(1,136)
Acquisitions and construction of real estate properties			(129)	(325)
Construction of Universal Beijing Resort			(257)	(47)
Acquisitions, net of cash acquired			(88)	(429)
Proceeds from sales of investments			127	120
Purchases of investments			(840)	(2,064)
Other			579	797
Net cash provided by (used in) investing activities			(8,590)	(9,923)
Financing Activities
Proceeds from (repayments of) short-term borrowings, net			2,909	(2,807)
Proceeds from borrowings			9,850	11,460
Repurchases and repayments of debt			(4,405)	(5,021)
Repurchases of common stock under repurchase program and employee plans			(4,282)	(4,212)
Dividends paid			(2,487)	(2,147)
Purchase of Universal Studios Japan noncontrolling interests			0	(2,299)
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock			(209)	(198)
Other			(242)	103
Net cash provided by (used in) financing activities			1,134	(5,121)
Increase (decrease) in cash, cash equivalents and restricted cash			11,051	813
Cash, cash equivalents and restricted cash, beginning of period			3,571	3,415
Cash, cash equivalents and restricted cash, end of period	14,622	4,228	14,622	4,228
Elimination and Consolidation Adjustments [Member]
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash provided by operating activities			0	0
Investing Activities
Net transactions with affiliates			0	0
Capital expenditures			0	0
Cash paid for intangible assets			0	0
Acquisitions and construction of real estate properties			0	0
Construction of Universal Beijing Resort			0	0
Acquisitions, net of cash acquired			0	0
Proceeds from sales of investments			0	0
Purchases of investments			0	0
Other			0	0
Net cash provided by (used in) investing activities			0	0
Financing Activities
Proceeds from (repayments of) short-term borrowings, net			0	0
Proceeds from borrowings			0	0
Repurchases and repayments of debt			0	0
Repurchases of common stock under repurchase program and employee plans			0	0
Dividends paid			0	0
Purchase of Universal Studios Japan noncontrolling interests				0
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock			0	0
Other			0	0
Net cash provided by (used in) financing activities			0	0
Increase (decrease) in cash, cash equivalents and restricted cash			0	0
Cash, cash equivalents and restricted cash, beginning of period			0	0
Cash, cash equivalents and restricted cash, end of period	0	0	0	0
Comcast Parent [Member] | Reportable Legal Entities [Member]
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash provided by operating activities			(1,461)	(931)
Investing Activities
Net transactions with affiliates			(1,087)	4,216
Capital expenditures			(15)	(6)
Cash paid for intangible assets			(3)	(2)
Acquisitions and construction of real estate properties			(94)	(190)
Construction of Universal Beijing Resort			0	0
Acquisitions, net of cash acquired			0	0
Proceeds from sales of investments			0	0
Purchases of investments			(118)	(56)
Other			0	101
Net cash provided by (used in) investing activities			(1,317)	4,063
Financing Activities
Proceeds from (repayments of) short-term borrowings, net			2,117	(1,739)
Proceeds from borrowings			9,386	5,997
Repurchases and repayments of debt			(1,900)	(1,000)
Repurchases of common stock under repurchase program and employee plans			(4,282)	(4,212)
Dividends paid			(2,487)	(2,147)
Purchase of Universal Studios Japan noncontrolling interests				0
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock			0	0
Other			(56)	(31)
Net cash provided by (used in) financing activities			2,778	(3,132)
Increase (decrease) in cash, cash equivalents and restricted cash			0	0
Cash, cash equivalents and restricted cash, beginning of period			0	0
Cash, cash equivalents and restricted cash, end of period	0	0	0	0
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash provided by operating activities			21,084	17,985
Investing Activities
Net transactions with affiliates			667	(5,776)
Capital expenditures			(6,592)	(6,833)
Cash paid for intangible assets			(1,372)	(1,134)
Acquisitions and construction of real estate properties			(35)	(135)
Construction of Universal Beijing Resort			(257)	(47)
Acquisitions, net of cash acquired			(88)	(429)
Proceeds from sales of investments			60	110
Purchases of investments			(672)	(1,916)
Other			130	647
Net cash provided by (used in) investing activities			(8,159)	(15,513)
Financing Activities
Proceeds from (repayments of) short-term borrowings, net			792	(1,068)
Proceeds from borrowings			464	5,463
Repurchases and repayments of debt			(2,502)	(3,468)
Repurchases of common stock under repurchase program and employee plans			0	0
Dividends paid			0	0
Purchase of Universal Studios Japan noncontrolling interests				(2,299)
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock			(209)	(198)
Other			(186)	134
Net cash provided by (used in) financing activities			(1,641)	(1,436)
Increase (decrease) in cash, cash equivalents and restricted cash			11,284	1,036
Cash, cash equivalents and restricted cash, beginning of period			3,075	2,933
Cash, cash equivalents and restricted cash, end of period	14,359	3,969	14,359	3,969
Comcast Holdings [Member] | Subsidiary Issuer [Member] | Reportable Legal Entities [Member]
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash provided by operating activities			137	91
Investing Activities
Net transactions with affiliates			(586)	(91)
Capital expenditures			0	0
Cash paid for intangible assets			0	0
Acquisitions and construction of real estate properties			0	0
Construction of Universal Beijing Resort			0	0
Acquisitions, net of cash acquired			0	0
Proceeds from sales of investments			0	0
Purchases of investments			0	0
Other			449	0
Net cash provided by (used in) investing activities			(137)	(91)
Financing Activities
Proceeds from (repayments of) short-term borrowings, net			0	0
Proceeds from borrowings			0	0
Repurchases and repayments of debt			0	0
Repurchases of common stock under repurchase program and employee plans			0	0
Dividends paid			0	0
Purchase of Universal Studios Japan noncontrolling interests				0
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock			0	0
Other			0	0
Net cash provided by (used in) financing activities			0	0
Increase (decrease) in cash, cash equivalents and restricted cash			0	0
Cash, cash equivalents and restricted cash, beginning of period			0	0
Cash, cash equivalents and restricted cash, end of period	0	0	0	0
CCCL Parent [Member] | Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash provided by operating activities			(206)	(233)
Investing Activities
Net transactions with affiliates			206	818
Capital expenditures			0	0
Cash paid for intangible assets			0	0
Acquisitions and construction of real estate properties			0	0
Construction of Universal Beijing Resort			0	0
Acquisitions, net of cash acquired			0	0
Proceeds from sales of investments			0	0
Purchases of investments			0	(35)
Other			0	0
Net cash provided by (used in) investing activities			206	783
Financing Activities
Proceeds from (repayments of) short-term borrowings, net			0	0
Proceeds from borrowings			0	0
Repurchases and repayments of debt			0	(550)
Repurchases of common stock under repurchase program and employee plans			0	0
Dividends paid			0	0
Purchase of Universal Studios Japan noncontrolling interests				0
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock			0	0
Other			0	0
Net cash provided by (used in) financing activities			0	(550)
Increase (decrease) in cash, cash equivalents and restricted cash			0	0
Cash, cash equivalents and restricted cash, beginning of period			0	0
Cash, cash equivalents and restricted cash, end of period	0	0	0	0
NBCUniversal Media Parent [Member] | Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Net Cash Provided by (Used in) Operating Activities [Abstract]
Net cash provided by operating activities			(1,047)	(1,055)
Investing Activities
Net transactions with affiliates			800	833
Capital expenditures			0	0
Cash paid for intangible assets			0	0
Acquisitions and construction of real estate properties			0	0
Construction of Universal Beijing Resort			0	0
Acquisitions, net of cash acquired			0	0
Proceeds from sales of investments			67	10
Purchases of investments			(50)	(57)
Other			0	49
Net cash provided by (used in) investing activities			817	835
Financing Activities
Proceeds from (repayments of) short-term borrowings, net			0	0
Proceeds from borrowings			0	0
Repurchases and repayments of debt			(3)	(3)
Repurchases of common stock under repurchase program and employee plans			0	0
Dividends paid			0	0
Purchase of Universal Studios Japan noncontrolling interests				0
Distributions to noncontrolling interests and dividends for redeemable subsidiary preferred stock			0	0
Other			0	0
Net cash provided by (used in) financing activities			(3)	(3)
Increase (decrease) in cash, cash equivalents and restricted cash			(233)	(223)
Cash, cash equivalents and restricted cash, beginning of period			496	482
Cash, cash equivalents and restricted cash, end of period	$ 263	$ 259	$ 263	$ 259

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Condensed Consolidating Financial Information (Condensed Consolidating Balance Sheet) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
Assets
Cash and cash equivalents	$ 10,616	$ 3,428
Receivables, net	8,983	8,834
Programming rights	1,223	1,613
Other current assets	2,384	2,468
Total current assets	23,206	16,343
Film and television costs	7,377	7,087
Investments	7,724	6,931
Investments in and amounts due from subsidiaries eliminated upon consolidation	0	0
Property and equipment, net	39,855	38,470
Franchise rights	59,365	59,364
Goodwill	36,703	36,780
Other intangible assets, net	18,649	18,133
Other noncurrent assets, net	7,756	4,354
Total assets	200,635	187,462
Liabilities and Equity
Accounts payable and accrued expenses related to trade creditors	7,036	6,908
Accrued participations and residuals	1,809	1,644
Deferred revenue	1,633	1,687
Accrued expenses and other current liabilities	5,976	6,620
Current portion of long-term debt	3,173	5,134
Total current liabilities	19,627	21,993
Long-term debt, less current portion	69,711	59,422
Deferred income taxes	25,167	24,259
Other noncurrent liabilities	12,468	10,972
Redeemable noncontrolling interests	1,317	1,357
Equity:
Common stock	54	55
Other shareholders’ equity	71,469	68,561
Total Comcast Corporation shareholders’ equity	71,523	68,616
Noncontrolling interests	822	843
Total equity	72,345	69,459	$ 56,258	$ 56,163
Total liabilities and equity	200,635	187,462
Elimination and Consolidation Adjustments [Member]
Assets
Cash and cash equivalents	0	0
Receivables, net	0	0
Programming rights	0	0
Other current assets	0	0
Total current assets	0	0
Film and television costs	0	0
Investments	0	0
Investments in and amounts due from subsidiaries eliminated upon consolidation	(564,823)	(562,645)
Property and equipment, net	0	0
Franchise rights	0	0
Goodwill	0	0
Other intangible assets, net	0	0
Other noncurrent assets, net	(235)	(314)
Total assets	(565,058)	(562,959)
Liabilities and Equity
Accounts payable and accrued expenses related to trade creditors	0	0
Accrued participations and residuals	0	0
Deferred revenue	0	0
Accrued expenses and other current liabilities	0	0
Current portion of long-term debt	0	0
Total current liabilities	0	0
Long-term debt, less current portion	0	0
Deferred income taxes	(301)	(343)
Other noncurrent liabilities	66	29
Redeemable noncontrolling interests	0	0
Equity:
Common stock	0	0
Other shareholders’ equity	(564,823)	(562,645)
Total Comcast Corporation shareholders’ equity	(564,823)	(562,645)
Noncontrolling interests	0	0
Total equity	(564,823)	(562,645)
Total liabilities and equity	(565,058)	(562,959)
Comcast Parent [Member] | Reportable Legal Entities [Member]
Assets
Cash and cash equivalents	0	0
Receivables, net	0	0
Programming rights	0	0
Other current assets	58	60
Total current assets	58	60
Film and television costs	0	0
Investments	267	146
Investments in and amounts due from subsidiaries eliminated upon consolidation	129,360	117,164
Property and equipment, net	649	551
Franchise rights	0	0
Goodwill	0	0
Other intangible assets, net	11	12
Other noncurrent assets, net	782	435
Total assets	131,127	118,368
Liabilities and Equity
Accounts payable and accrued expenses related to trade creditors	13	16
Accrued participations and residuals	0	0
Deferred revenue	0	0
Accrued expenses and other current liabilities	1,852	1,888
Current portion of long-term debt	699	2,810
Total current liabilities	2,564	4,714
Long-term debt, less current portion	54,120	42,428
Deferred income taxes	0	0
Other noncurrent liabilities	2,920	2,610
Redeemable noncontrolling interests	0	0
Equity:
Common stock	54	55
Other shareholders’ equity	71,469	68,561
Total Comcast Corporation shareholders’ equity	71,523	68,616
Noncontrolling interests	0	0
Total equity	71,523	68,616
Total liabilities and equity	131,127	118,368
Non-Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Assets
Cash and cash equivalents	10,353	2,932
Receivables, net	8,983	8,834
Programming rights	1,223	1,613
Other current assets	2,284	2,376
Total current assets	22,843	15,755
Film and television costs	7,377	7,087
Investments	6,534	5,963
Investments in and amounts due from subsidiaries eliminated upon consolidation	103,526	113,332
Property and equipment, net	39,206	37,919
Franchise rights	59,365	59,364
Goodwill	36,703	36,780
Other intangible assets, net	18,638	18,121
Other noncurrent assets, net	6,884	3,437
Total assets	301,076	297,758
Liabilities and Equity
Accounts payable and accrued expenses related to trade creditors	7,023	6,892
Accrued participations and residuals	1,809	1,644
Deferred revenue	1,633	1,687
Accrued expenses and other current liabilities	3,397	3,981
Current portion of long-term debt	2,470	2,320
Total current liabilities	16,332	16,524
Long-term debt, less current portion	5,599	7,003
Deferred income taxes	25,070	24,250
Other noncurrent liabilities	8,257	7,205
Redeemable noncontrolling interests	1,317	1,357
Equity:
Common stock	0	0
Other shareholders’ equity	243,679	240,576
Total Comcast Corporation shareholders’ equity	243,679	240,576
Noncontrolling interests	822	843
Total equity	244,501	241,419
Total liabilities and equity	301,076	297,758
Comcast Holdings [Member] | Subsidiary Issuer [Member] | Reportable Legal Entities [Member]
Assets
Cash and cash equivalents	0	0
Receivables, net	0	0
Programming rights	0	0
Other current assets	8	0
Total current assets	8	0
Film and television costs	0	0
Investments	11	21
Investments in and amounts due from subsidiaries eliminated upon consolidation	146,297	142,519
Property and equipment, net	0	0
Franchise rights	0	0
Goodwill	0	0
Other intangible assets, net	0	0
Other noncurrent assets, net	230	708
Total assets	146,546	143,248
Liabilities and Equity
Accounts payable and accrued expenses related to trade creditors	0	0
Accrued participations and residuals	0	0
Deferred revenue	0	0
Accrued expenses and other current liabilities	150	92
Current portion of long-term debt	0	0
Total current liabilities	150	92
Long-term debt, less current portion	144	140
Deferred income taxes	330	285
Other noncurrent liabilities	0	0
Redeemable noncontrolling interests	0	0
Equity:
Common stock	0	0
Other shareholders’ equity	145,922	142,731
Total Comcast Corporation shareholders’ equity	145,922	142,731
Noncontrolling interests	0	0
Total equity	145,922	142,731
Total liabilities and equity	146,546	143,248
CCCL Parent [Member] | Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Assets
Cash and cash equivalents	0	0
Receivables, net	0	0
Programming rights	0	0
Other current assets	0	7
Total current assets	0	7
Film and television costs	0	0
Investments	122	108
Investments in and amounts due from subsidiaries eliminated upon consolidation	132,562	139,528
Property and equipment, net	0	0
Franchise rights	0	0
Goodwill	0	0
Other intangible assets, net	0	0
Other noncurrent assets, net	0	0
Total assets	132,684	139,643
Liabilities and Equity
Accounts payable and accrued expenses related to trade creditors	0	0
Accrued participations and residuals	0	0
Deferred revenue	0	0
Accrued expenses and other current liabilities	231	333
Current portion of long-term debt	0	0
Total current liabilities	231	333
Long-term debt, less current portion	2,100	2,100
Deferred income taxes	0	0
Other noncurrent liabilities	0	0
Redeemable noncontrolling interests	0	0
Equity:
Common stock	0	0
Other shareholders’ equity	130,353	137,210
Total Comcast Corporation shareholders’ equity	130,353	137,210
Noncontrolling interests	0	0
Total equity	130,353	137,210
Total liabilities and equity	132,684	139,643
NBCUniversal Media Parent [Member] | Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Assets
Cash and cash equivalents	263	496
Receivables, net	0	0
Programming rights	0	0
Other current assets	34	25
Total current assets	297	521
Film and television costs	0	0
Investments	790	693
Investments in and amounts due from subsidiaries eliminated upon consolidation	53,078	50,102
Property and equipment, net	0	0
Franchise rights	0	0
Goodwill	0	0
Other intangible assets, net	0	0
Other noncurrent assets, net	95	88
Total assets	54,260	51,404
Liabilities and Equity
Accounts payable and accrued expenses related to trade creditors	0	0
Accrued participations and residuals	0	0
Deferred revenue	0	0
Accrued expenses and other current liabilities	346	326
Current portion of long-term debt	4	4
Total current liabilities	350	330
Long-term debt, less current portion	7,748	7,751
Deferred income taxes	68	67
Other noncurrent liabilities	1,225	1,128
Redeemable noncontrolling interests	0	0
Equity:
Common stock	0	0
Other shareholders’ equity	44,869	42,128
Total Comcast Corporation shareholders’ equity	44,869	42,128
Noncontrolling interests	0	0
Total equity	44,869	42,128
Total liabilities and equity	$ 54,260	$ 51,404