Comcast Corp 8-K, filed Mar 13, 2023

Comcast Corp (CMCSA)

8-K 2023-03-13 For: 2023-03-13

View Original

Added on April 07, 2026

About this 8-K

Comcast Corp filed this 8-K on March 13, 2023.

Items reported

Item 7.01: Regulation FD disclosure
Item 9.01: Financial statements and exhibits

Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →


	Year ended December 31, 2021								Year ended December 31, 2022
($ in millions; unaudited)	As Originally Reported		Cable Communications to Connectivity & Platforms Segments		Sky to New Segments		Recast		As Originally Reported		Cable Communications to Connectivity & Platforms Segments		Sky to New Segments		Recast

Revenue
Cable Communications	$	64,328	$	(64,328)			$	—	$	66,318	$	(66,318)			$	—
Residential Connectivity & Platforms			56,295		16,399		72,694				57,532		14,854		72,386
Business Services Connectivity			8,033		23		8,056				8,786		33		8,819
Total Connectivity & Platforms	—		64,328		16,423		80,750		—		66,318		14,887		81,205
NBCUniversal / Content & Experiences
Media	22,780				4,626		27,406		23,406				3,313		26,719
Studios	9,449				628		10,077		11,622				635		12,257
Theme Parks	5,051						5,051		7,541						7,541
Headquarters & Other	87						87		75						75
Eliminations	(3,048)						(3,048)		(3,442)						(3,442)
Total NBCUniversal / Content & Experiences	34,319		—		5,254		39,574		39,203		—		3,948		43,151
Sky	20,285				(20,285)		—		17,946				(17,946)		—
Corporate & Other	461				2,383		2,844		863				1,799		2,662
Eliminations	(3,008)				(3,775)		(6,783)		(2,903)				(2,688)		(5,590)
Total Consolidated Revenue	$	116,385	$	—	$	—	$	116,385	$	121,427	$	—	$	—	$	121,427

Adjusted EBITDA1
Cable Communications	$	28,097	$	(28,097)			$	—	$	29,403	$	(29,403)			$	—
Residential Connectivity & Platforms			23,401		1,787		25,188				24,327		1,785		26,111
Business Services Connectivity			4,696		(14)		4,682				5,077		(17)		5,060
Total Connectivity & Platforms	—		28,097		1,773		29,871		—		29,403		1,768		31,171
NBCUniversal / Content & Experiences
Media	4,569				564		5,133		3,212				386		3,598
Studios	884				(5)		879		942				19		961
Theme Parks	1,267						1,267		2,683						2,683
Headquarters & Other	(840)						(840)		(881)						(881)
Eliminations	(205)						(205)		(2)						(2)
Total NBCUniversal / Content & Experiences	5,675		—		559		6,234		5,955		—		405		6,360
Sky	2,359				(2,359)		—		2,526				(2,526)		—
Corporate & Other	(1,358)				27		(1,331)		(1,361)				352		(1,008)
Eliminations	(65)				—		(65)		(64)				—		(64)
Total Consolidated Adjusted EBITDA1	$	34,708	$	—	$	—	$	34,708	$	36,459	$	—	$	—	$	36,459


	2021										2022
($ in millions; unaudited)	1Q		2Q		3Q		4Q		FY		1Q			2Q			3Q			4Q			FY

Revenue
Domestic Broadband	$	5,600	$	5,717	$	5,801	$	5,861	$	22,979	$	6,050		$	6,107		$	6,135		$	6,177		$	24,469
Domestic Wireless	513		556		603		709		2,380		677			722			789			883			3,071
International Connectivity	762		794		840		896		3,293		840			791			842			953			3,426
Residential Connectivity	6,875		7,067		7,245		7,466		28,652		7,568			7,620			7,766			8,013			30,966
Video	8,191		8,232		8,080		7,936		32,440		8,002			7,793			7,428			7,273			30,496
Advertising	1,001		1,128		1,097		1,282		4,507		1,073			1,112			1,079			1,283			4,546
Other	1,785		1,805		1,759		1,747		7,095		1,698			1,607			1,561			1,512			6,378
Residential Connectivity & Platforms	17,851		18,232		18,180		18,431		72,694		18,340			18,131			17,833			18,081			72,386
Business Services Connectivity	1,946		1,983		2,008		2,119		8,056		2,172			2,203			2,215			2,230			8,819
Total Connectivity & Platforms	19,797		20,215		20,188		20,550		80,750		20,512			20,335			20,048			20,311			81,205
Change											3.6		%	0.6		%	(0.7)		%	(1.2)		%	0.6		%
Constant Currency Change1											4.4		%	2.9		%	2.3		%	1.4		%	2.7		%
Domestic Advertising	2,072		2,161		3,230		2,714		10,177		3,310			2,131			2,089			2,829			10,360
Domestic Distribution	2,403		2,358		2,896		2,423		10,080		2,938			2,558			2,497			2,532			10,525
International Networks	1,268		1,288		1,221		1,282		5,060		995			970			872			893			3,729
Other	458		521		542		569		2,090		515			529			547			514			2,105
Total Media	6,202		6,328		7,889		6,988		27,406		7,758			6,188			6,005			6,768			26,719
Content Licensing	2,204		1,962		1,960		2,067		8,193		2,429			2,269			2,267			2,382			9,348
Theatrical	39		198		307		147		691		168			550			673			216			1,607
Other	282		245		273		392		1,193		310			298			356			339			1,302
Total Studios	2,525		2,406		2,540		2,606		10,077		2,907			3,117			3,296			2,938			12,257
Theme Parks	619		1,095		1,449		1,887		5,051		1,560			1,804			2,064			2,114			7,541
Headquarters & Other	16		22		28		22		87		16			8			22			29			75
Eliminations	(1,043)		(534)		(654)		(817)		(3,048)		(901)			(664)			(909)			(968)			(3,442)
Total Content & Experiences	8,319		9,316		11,252		10,686		39,574		11,339			10,453			10,477			10,881			43,151
Corporate & Other	723		731		650		740		2,844		713			617			601			731			2,662
Eliminations	(1,635)		(1,716)		(1,793)		(1,641)		(6,783)		(1,554)			(1,389)			(1,277)			(1,370)			(5,590)
Total Consolidated Revenue	$	27,205	$	28,546	$	30,298	$	30,336	$	116,385	$	31,010		$	30,016		$	29,849		$	30,552		$	121,427


	2021										2022
($ in millions; unaudited)	1Q		2Q		3Q		4Q		FY		1Q			2Q			3Q			4Q			FY

Costs and Expenses, Excluding Depreciation and Amortization1
Residential Connectivity & Platforms	$	11,674	$	11,707	$	11,805	$	12,320	$	47,506	$	11,729		$	11,399		$	11,138		$	12,009		$	46,275
Business Services Connectivity	792		830		827		925		3,374		938			941			927			953			3,759
Total Connectivity & Platforms	12,466		12,537		12,632		13,245		50,880		12,668			12,339			12,065			12,962			50,033
Change											1.6		%	(1.6)		%	(4.5)		%	(2.1)		%	(1.7)		%
Constant Currency Change2											2.7		%	1.5		%	(0.4)		%	1.6		%	1.4		%
Supplemental Connectivity & Platforms Detail
Programming	5,199		5,176		5,069		5,098		20,542		4,884			4,679			4,464			4,473			18,500
Marketing & Promotion	1,213		1,274		1,309		1,384		5,180		1,332			1,296			1,246			1,227			5,101
Direct Product Costs	1,122		1,152		1,200		1,427		4,901		1,339			1,329			1,377			1,553			5,598
Technical & Support	1,855		1,873		1,951		2,003		7,682		1,949			1,916			1,911			1,945			7,721
Customer Service	776		759		748		735		3,018		736			720			712			702			2,870
Other	2,301		2,303		2,354		2,598		9,557		2,429			2,399			2,354			3,062			10,244
Total Connectivity & Platforms	12,466		12,537		12,632		13,245		50,880		12,668			12,339			12,065			12,962			50,033
Programming & Production	3,742		3,838		5,220		4,599		17,398		5,221			3,405			3,919			5,104			17,650
Marketing & Promotion	222		238		382		422		1,264		426			291			365			439			1,520
Other	819		854		917		1,022		3,611		929			972			1,042			1,008			3,951
Total Media	4,783		4,930		6,518		6,042		22,273		6,577			4,669			5,326			6,550			23,121
Programming & Production	1,746		1,782		1,868		2,047		7,443		2,122			2,392			2,149			2,115			8,778
Marketing & Promotion	124		296		339		320		1,079		327			531			388			452			1,699
Other	162		172		148		195		677		213			196			207			203			819
Total Studios	2,032		2,250		2,355		2,562		9,198		2,662			3,120			2,744			2,770			11,296
Theme Parks	680		874		1,015		1,213		3,783		1,109			1,173			1,244			1,332			4,858
Headquarters & Other	225		208		276		219		927		208			145			221			382			956
Eliminations	(833)		(518)		(642)		(850)		(2,843)		(839)			(688)			(849)			(1,064)			(3,440)
Total Content & Experiences	6,888		7,743		9,522		9,185		33,340		9,716			8,419			8,686			9,970			36,791
Corporate & Other1	1,082		1,057		881		1,156		4,175		948			784			919			1,019			3,670
Eliminations	(1,644)		(1,717)		(1,695)		(1,662)		(6,718)		(1,472)			(1,353)			(1,303)			(1,398)			(5,526)
Total Consolidated Operating Costs and Expenses, Excluding Depreciation and Amortization1	$	18,792	$	19,620	$	21,341	$	21,925	$	81,677	$	21,859		$	20,189		$	20,367		$	22,552		$	84,968


	2021										2022
($ in millions; unaudited)	1Q		2Q		3Q		4Q		FY		1Q			2Q			3Q			4Q			FY

Adjusted EBITDA1
Residential Connectivity & Platforms	$	6,177	$	6,525	$	6,375	$	6,111	$	25,188	$	6,611		$	6,733		$	6,695		$	6,073		$	26,111
Business Services Connectivity	1,154		1,153		1,181		1,195		4,682		1,233			1,263			1,288			1,276			5,060
Total Connectivity & Platforms	7,331		7,678		7,556		7,306		29,871		7,844			7,995			7,983			7,349			31,171
Change											7.0		%	4.1		%	5.6		%	0.6		%	4.4		%
Constant Currency Change2											7.2		%	5.0		%	6.6		%	1.0		%	5.0		%
Media	1,418		1,398		1,371		946		5,133		1,181			1,520			679			218			3,598
Studios	492		156		186		45		879		245			(3)			551			168			961
Theme Parks	(61)		221		434		674		1,267		451			632			819			782			2,683
Headquarters & Other	(209)		(186)		(248)		(197)		(840)		(191)			(137)			(199)			(353)			(881)
Eliminations	(210)		(15)		(12)		33		(205)		(62)			23			(59)			97			(2)
Total Content & Experiences	1,431		1,573		1,730		1,501		6,234		1,623			2,034			1,791			911			6,360
Corporate & Other	(358)		(326)		(231)		(416)		(1,331)		(235)			(167)			(318)			(288)			(1,008)
Eliminations	10		2		(98)		21		(65)		(82)			(36)			26			28			(64)
Total Consolidated Adjusted EBITDA1	$	8,413	$	8,927	$	8,957	$	8,411	$	34,708	$	9,150		$	9,827		$	9,482		$	8,000		$	36,459


	2021										2022
($ in millions; unaudited)	1Q		2Q		3Q		4Q		FY		1Q		2Q		3Q		4Q		FY
Net income attributable to Comcast Corporation	$	3,329	$	3,738	$	4,035	$	3,057	$	14,159	$	3,549	$	3,396	$	(4,598)	$	3,024	$	5,370
Net income (loss) attributable to noncontrolling interests	(37)		(108)		(104)		(77)		(325)		(73)		(155)		(68)		(150)		(445)
Income tax expense	1,119		2,000		1,235		905		5,259		1,288		1,261		1,014		797		4,359
Investment and other (income) loss, net	(391)		(1,216)		(766)		(183)		(2,557)		(188)		897		266		(114)		861
Interest expense	1,018		1,093		1,050		1,120		4,281		993		968		960		974		3,896
Depreciation	2,117		2,113		2,177		2,220		8,628		2,213		2,162		2,150		2,199		8,724
Amortization	1,245		1,270		1,301		1,361		5,176		1,335		1,306		1,183		1,273		5,097
Goodwill and long-lived asset impairments	—		—		—		—		—		—		—		8,583		—		8,583
Adjustments	12		36		30		9		87		33		(9)		(9)		(2)		13

Adjusted EBITDA	$	8,413	$	8,927	$	8,957	$	8,411	$	34,708	$	9,150	$	9,827	$	9,482	$	8,000	$	36,459



($ in millions; unaudited)	2021
Revenue		1Q		2Q		3Q		4Q		FY
As reported		$	19,797	$	20,215	$	20,188	$	20,550	$	80,750
Effects of foreign currency		(143)		(444)		(594)		(520)		(1,702)
Constant currency amounts		$	19,654	$	19,770	$	19,594	$	20,030	$	79,049


($ in millions; unaudited)	2021
Costs and expenses, excluding depreciation and amortization		1Q		2Q		3Q		4Q		FY
As reported		$	12,466	$	12,537	$	12,632	$	13,245	$	50,880
Effects of foreign currency		(130)		(383)		(523)		(490)		(1,527)
Constant currency amounts		$	12,335	$	12,154	$	12,109	$	12,754	$	49,353


($ in millions; unaudited)	2021
Adjusted EBITDA		1Q		2Q		3Q		4Q		FY
As reported		$	7,331	$	7,678	$	7,556	$	7,306	$	29,871
Effects of foreign currency		(13)		(62)		(71)		(30)		(175)
Constant currency amounts		$	7,318	$	7,616	$	7,485	$	7,276	$	29,696