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Comcast Corp (CMCSA) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2019

Comcast Corp

CIK: 1166691 Ticker: CMCSA
 
 
 
        comcastlogo2a02.jpg  
 
PRESS RELEASE

COMCAST REPORTS 4th QUARTER AND FULL YEAR 2019 RESULTS
PHILADELPHIA - January 23, 2020 Comcast Corporation (NASDAQ: CMCSA) today reported results for the quarter and year ended December 31, 2019.
 
Brian L. Roberts, Chairman and Chief Executive Officer of Comcast Corporation, said, "We delivered strong operational and financial results in the fourth quarter, capping another great year for Comcast, including double-digit growth in full-year adjusted EPS, record free cash flow and 1.4 million broadband net additions in the U.S. Our teams at Cable, NBCUniversal and Sky continued to execute at a high level, strengthening our leadership position in our markets. Looking ahead, in 2020 we are leaning into exciting opportunities, including: further differentiating our broadband product in the U.S. through innovations like Flex and xFi Advanced Security; accelerating the deployment of Sky Q; launching a new broadband service in Italy; debuting Super Nintendo World at Universal Studios Japan; and introducing a world-class streaming service - Peacock - which leverages capabilities from across Comcast. Underscoring our confidence in the continued success of our company, we are pleased to announce a 10% increase in our dividend, our 12th consecutive annual increase."
 
 
 
 
 
 
 
 
 
 
 
 
($ in millions, except per share data)
 
 
 
 
 
 
 
 
 
 
 
4th Quarter
 
 
Full Year
 
 
Consolidated Results
2018 5

2019

Growth

 
 
2018 5

2019

Growth

 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue

$27,846


$28,398

2.0
%
 
 

$94,507


$108,942

15.3
%
 
 
Net Income Attributable to Comcast

$2,511


$3,162

25.9
%
 
 

$11,731


$13,057

11.3
%
 
 
Adjusted EBITDA1

$8,191


$8,436

3.0
%
 
 

$30,165


$34,258

13.6
%
 
 
Earnings per Share2

$0.55


$0.68

23.6
%
 
 

$2.53


$2.83

11.9
%
 
 
Earnings per Share, Adjusted Basis3 (see Table 5)

$0.72


$0.79

9.7
%
 
 

$2.73


$3.13

14.7
%
 
 
Net Cash Provided by Operating Activities

$5,790


$6,235

7.7
%
 
 

$24,297


$25,697

5.8
%
 
 
Free Cash Flow4

$2,063


$2,484

20.4
%
 
 

$12,588


$13,394

6.4
%
 
 
 
 
 
 
 
 
 
 
 
 
For additional detail on segment revenue and expenses, customer metrics, capital expenditures, and free cash flow, please refer to the trending schedules on Comcast’s Investor Relations website at www.cmcsa.com.
Full Year 2019 Highlights:
Consolidated Adjusted EBITDA Increased 13.6%; Earnings per Share Increased 14.7% to $3.13, on an Adjusted Basis; Generated Free Cash Flow of $13.4 Billion
Cable Communications Adjusted EBITDA Increased 7.3% and Adjusted EBITDA per Customer Relationship Increased 3.5%
Cable Communications Total Customer Relationships Increased by 1.1 Million, the Best Result on Record; Total High-Speed Internet Customers Increased by 1.4 Million, the Best Result in 12 Years
NBCUniversal Filmed Entertainment Adjusted EBITDA Increased 13.5%
Sky Adjusted EBITDA Increased 7.1% on a Pro Forma Basis to $3.1 Billion; Excluding the Impact of Currency, Adjusted EBITDA Increased 12.2% on a Pro Forma Basis
4th Quarter 2019 Highlights:
Consolidated Adjusted EBITDA Increased 3.0%; Earnings per Share Increased 9.7% to $0.79, on an Adjusted Basis; Generated Free Cash Flow of $2.5 Billion
Cable Communications Adjusted EBITDA Increased 5.4%
Cable Communications Total Customer Relationship Net Additions were 372,000, the Best Quarterly Net Additions on Record; Total High-Speed Internet Customer Net Additions were 442,000
NBCUniversal Broadcast Television Adjusted EBITDA Increased 14.2%
Sky Total Customer Relationships Increased 1.7% Year-Over-Year to 24.0 Million, Including Net Additions of 77,000 in the Quarter
Dividends:
Dividends Paid Totaled $3.7 Billion in 2019; Increased Dividend by 10% to $0.92 per Share on an Annualized Basis for 2020


The following information was filed by Comcast Corp (CMCSA) on Thursday, January 23, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheet
Consolidated Balance Sheet (Parenthetical)
Consolidated Statement Of Cash Flows
Consolidated Statement Of Changes In Equity
Consolidated Statement Of Comprehensive Income
Consolidated Statement Of Comprehensive Income (Parenthetical)
Consolidated Statement Of Income
Basis Of Presentation And Summary Of Significant Accounting Policies
Basis Of Presentation And Summary Of Significant Accounting Policies (Details)
Commitments And Contingencies
Commitments And Contingencies (Minimum Annual Commitments Under The Programming License Agreements) (Details)
Commitments And Contingencies (Narrative) (Details)
Commitments And Contingencies (Rental Expense) (Details)
Commitments And Contingencies (Summary Of Future Minimum Rental Commitments For Operating Leases Under New Accounting Guidance) (Details)
Commitments And Contingencies (Summary Of Future Minimum Rental Commitments For Operating Leases Under Previous Accounting Guidance And Rent Expense) (Details)
Commitments And Contingencies (Summary Of Operating Lease Assets And Liabilities Recorded In The Consolidated Balance Sheets) (Details)
Commitments And Contingencies (Tables)
Condensed Consolidating Financial Information
Condensed Consolidating Financial Information (Condensed Consolidating Balance Sheet) (Details)
Condensed Consolidating Financial Information (Condensed Consolidating Statement Of Cash Flows) (Details)
Condensed Consolidating Financial Information (Condensed Consolidating Statement Of Income) (Details)
Condensed Consolidating Financial Information (Tables)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Employee Benefit Plans
Employee Benefit Plans (Deferred Compensation Plans) (Details)
Employee Benefit Plans (Narrative) (Details)
Employee Benefit Plans (Tables)
Equity
Equity (Aggregate Share Repurchases) (Details)
Equity (Changes In Common Stock) (Details)
Equity (Components Of Accumulated Other Comprehensive Income (Loss)) (Details)
Equity (Narrative) (Details)
Equity (Tables)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Amortization Of Intangible Assets) (Details)
Goodwill And Intangible Assets (Intangible Assets) (Details)
Goodwill And Intangible Assets (Narrative) (Details)
Goodwill And Intangible Assets (Schedule Of Change In Goodwill) (Details)
Goodwill And Intangible Assets (Tables)
Income Taxes
Income Taxes (Components Of Income Tax Expense) (Details)
Income Taxes (Components Of Net Deferred Tax Liability) (Details)
Income Taxes (Federal Statutory) (Details)
Income Taxes (Income Before Income Taxes) (Details)
Income Taxes (Narrative) (Details)
Income Taxes (Reconciliation Of Unrecognized Tax Benefits) (Details)
Income Taxes (Tables)
Investments
Investments (Equity Method Investments) (Details)
Investments (Investment And Other Income (Loss), Net) (Details)
Investments (Marketable Equity Securities) (Details)
Investments (Other Investments) (Details)
Investments (Schedule Of Investments) (Details)
Investments (Tables)
Long-Term Debt
Long-Term Debt (Debt Maturities) (Details)
Long-Term Debt (Narrative) (Details)
Long-Term Debt (Schedule Of Debt Outstanding) (Details)
Long-Term Debt (Tables)
Programming And Production Costs
Programming And Production Costs (Narrative) (Details)
Programming And Production Costs (Schedule) (Details)
Programming And Production Costs (Tables)
Property And Equipment
Property And Equipment (Details)
Property And Equipment (Tables)
Quarterly Financial Information (Unaudited)
Quarterly Financial Information (Unaudited) (Details)
Quarterly Financial Information (Unaudited) (Tables)
Recent Accounting Pronouncements
Recent Accounting Pronouncements (Narrative) (Details)
Recent Accounting Pronouncements (Policies)
Related Party Transactions
Related Party Transactions (Condensed Consolidated Balance Sheet) (Details)
Related Party Transactions (Condensed Consolidated Statement Of Income) (Details)
Related Party Transactions (Narrative) (Details)
Related Party Transactions (Tables)
Revenue
Revenue (Condensed Consolidated Balance Sheet) (Details)
Revenue (Details)
Revenue (Narrative) (Details)
Revenue (Revenue By Geographic Location) (Details)
Revenue (Tables)
Schedule Ii Valuation And Qualifying Accounts
Schedule Ii Valuation And Qualifying Accounts (Details)
Segment Information
Segment Information (Details)
Segment Information (Narrative) (Details)
Segment Information (Reconciliation Of Adjusted Ebitda From Segment To Consolidated Statements) (Details)
Segment Information (Tables)
Share-Based Compensation
Share-Based Compensation (Narrative) (Details)
Share-Based Compensation (Recognized Share-Based Compensation Expense) (Details)
Share-Based Compensation (Restricted Share Units And Stock Option Fair Value) (Details)
Share-Based Compensation (Stock Options And Restricted Share Units) (Details)
Share-Based Compensation (Stock Options And Restricted Stock Units) (Tables)
Significant Transactions
Significant Transactions (Acquisition-Related Costs) (Details)
Significant Transactions (Allocation Of Purchase Price) (Details)
Significant Transactions (Fcc Spectrum Auction) (Details)
Significant Transactions (Sky Transaction) (Details)
Significant Transactions (Tables)
Significant Transactions (Unaudited Pro Forma Information) (Details)
Significant Transactions (Universal Beijing Resort) (Details)
Significant Transactions (Universal Studios Japan) (Details)
Supplemental Financial Information
Supplemental Financial Information (Cash Payments For Interest And Income Taxes) (Details)
Supplemental Financial Information (Cash, Cash Equivalents And Restricted Cash) (Details)
Supplemental Financial Information (Noncash Investing And Financing Activities) (Details)
Supplemental Financial Information (Tables)
Supplemental Financial Information Supplemental Financial Information (Components Of Accumulated Other Comprehensive Income (Loss)) (Details)
Ticker: CMCSA
CIK: 1166691
Form Type: 10-K Annual Report
Accession Number: 0001166691-20-000008
Submitted to the SEC: Thu Jan 30 2020 4:41:57 PM EST
Accepted by the SEC: Thu Jan 30 2020
Period: Tuesday, December 31, 2019
Industry: Cable And Other Pay Television Services

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