Comcast Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Comcast Corporation has filed its 2023 annual report on Form 10-K, detailing its financial performance and operational data for the fiscal year ending December 31, 2023.</b>

AI Summary

COMCAST CORP (CCZ) filed a Annual Report (10-K) with the SEC on January 31, 2024. Comcast Corporation filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. Key financial data and disclosures are provided for the fiscal year 2023. The report includes information on common stock, including Class A and Class B members. Comcast Corporation is incorporated in Pennsylvania and operates in the Cable & Other Pay Television Services industry.

Why It Matters

For investors and stakeholders tracking COMCAST CORP, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Comcast's financial health, operational segments, and strategic initiatives for the past fiscal year, crucial for investors to assess performance and future outlook. The detailed financial statements and risk factors within the report offer insights into the company's market position, competitive landscape, and potential challenges in the evolving media and telecommunications industry.

Risk Assessment

Risk Level: medium — COMCAST CORP shows moderate risk based on this filing. The company operates in a highly competitive and rapidly evolving industry, facing challenges from technological advancements and changing consumer preferences, as detailed in its risk factors.

Analyst Insight

Investors should review the detailed financial statements and risk factor disclosures in the 10-K to understand Comcast's performance and strategic positioning in the current market.

Key Numbers

• 2023-12-31 — Fiscal Year End (Fiscal year end date)
• 2024-01-31 — Filing Date (Date the 10-K was filed)
• 132 — Document Count (Number of documents in the filing)
• 0001166691-24-000011 — Accession Number (Unique identifier for the filing)

Key Players & Entities

• COMCAST CORP (company) — Filer name
• 20231231 (date) — Period of report
• 20240131 (date) — Filed as of date
• PA (location) — State of incorporation
• CABLE & OTHER PAY TELEVISION SERVICES (industry) — Standard Industrial Classification
• 0001166691 (company) — Central Index Key
• AT&T COMCAST CORP (company) — Former company name
• 20020206 (date) — Date of name change

Forward-Looking Statements

• Comcast will likely face increased interest expenses in the coming years as lower-rate notes mature and are potentially refinanced at higher current market rates. (Comcast Corp) — medium confidence, target: 2026-2029

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-01-31: Filing Date — Date Comcast Corp. officially submitted its 10-K filing.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This is the primary document for investors to understand a company's financial health and operations over the past year.)

Fiscal Year

A 12-month period that a company uses for financial reporting and budgeting. (Understanding the fiscal year end is crucial for comparing financial data across different periods and companies.)

Key Financial Figures

• $0.01 — Which Registered Class A Common Stock, $0.01 par value CMCSA The Nasdaq Stock Mark

Filing Documents

• cmcsa-20231231.htm (10-K) — 2915KB
• exhibit311-pachangeofreg.htm (EX-3.1 1) — 4KB
• ex415-12312023.htm (EX-4.15) — 368KB
• ex107-12312023.htm (EX-10.7) — 243KB
• ex1023-12312023.htm (EX-10.23) — 90KB
• ex1024-12312023.htm (EX-10.24) — 84KB
• ex1028-12312023.htm (EX-10.28) — 25KB
• ex21-12312023.htm (EX-21) — 978KB
• ex22-12312023.htm (EX-22) — 5KB
• ex23-12312023.htm (EX-23) — 3KB
• ex31-12312023.htm (EX-31) — 18KB
• ex32-12312023.htm (EX-32) — 6KB
• ex97-12312023.htm (EX-97) — 8KB
• cmcsa-20231231_g1.jpg (GRAPHIC) — 11KB
• cmcsa-20231231_g10.jpg (GRAPHIC) — 11KB
• cmcsa-20231231_g11.jpg (GRAPHIC) — 11KB
• cmcsa-20231231_g12.jpg (GRAPHIC) — 4KB
• cmcsa-20231231_g13.jpg (GRAPHIC) — 46KB
• cmcsa-20231231_g14.jpg (GRAPHIC) — 35KB
• cmcsa-20231231_g15.jpg (GRAPHIC) — 29KB
• cmcsa-20231231_g16.jpg (GRAPHIC) — 31KB
• cmcsa-20231231_g2.jpg (GRAPHIC) — 95KB
• cmcsa-20231231_g3.jpg (GRAPHIC) — 73KB
• cmcsa-20231231_g4.jpg (GRAPHIC) — 17KB
• cmcsa-20231231_g5.jpg (GRAPHIC) — 8KB
• cmcsa-20231231_g6.jpg (GRAPHIC) — 10KB
• cmcsa-20231231_g7.jpg (GRAPHIC) — 42KB
• cmcsa-20231231_g8.jpg (GRAPHIC) — 18KB
• cmcsa-20231231_g9.jpg (GRAPHIC) — 11KB
• exhibit311-pachangeofreg001.jpg (GRAPHIC) — 192KB
• 0001166691-24-000011.txt (&nbsp;) — 15529KB
• cmcsa-20231231.xsd (EX-101.SCH) — 85KB
• cmcsa-20231231_cal.xml (EX-101.CAL) — 115KB
• cmcsa-20231231_def.xml (EX-101.DEF) — 377KB
• cmcsa-20231231_lab.xml (EX-101.LAB) — 902KB
• cmcsa-20231231_pre.xml (EX-101.PRE) — 597KB
• cmcsa-20231231_htm.xml (XML) — 1962KB

Risk Factors

Item 1A Risk Factors 20

Unresolved Staff Comments

Item 1B Unresolved Staff Comments 27 Item 1C C ybersecurity 28

Properties

Item 2 Properties 29

Legal Proceedings

Item 3 Legal Proceedings 29

Mine Safety Disclosures

Item 4 Mine Safety Disclosures 29 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 30

[Reserved]

Item 6 [Reserved] 31

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7 Management's Discussion and Analysis of Financial Condition and Results of Operations 32

Quantitative and Qualitative Disclosures About Market Risk

Item 7A Quantitative and Qualitative Disclosures About Market Risk 57

Comcast Corporation Financial Statements and Supplementary Data

Item 8 Comcast Corporation Financial Statements and Supplementary Data 59

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 92

Controls and Procedures

Item 9A Controls and Procedures 92

Other Information

Item 9B Other Information 92

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 92 PART III

Directors, Executive Officers and Corporate Governance

Item 10 Directors, Executive Officers and Corporate Governance 93

Executive Compensation

Item 11 Executive Compensation 93

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12 Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 94

Certain Relationships and Related Transactions, and Director Independence

Item 13 Certain Relationships and Related Transactions, and Director Independence 94

Principal Accountant Fees and Services

Item 14 Principal Accountant Fees and Services 94 PART IV

Exhibits and Financial Statement Schedules

Item 15 Exhibits and Financial Statement Schedules 95

Form 10-K Summary

Item 16 Form 10-K Summary 98

Signatures

Signatures 99 Explanatory Note This Annual Report on Form 10-K is for the year ended December 31, 2023. This Annual Report on Form 10-K modifies and supersedes documents filed before it. The U.S 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 Annual Report on Form 10-K. In addition, information that we file with the SEC in the future will automatically update and supersede information contained in this Annual Report on Form 10-K. Unless indicated otherwise, throughout this Annual Report on Form 10-K, we refer to Comcast and its consolidated subsidiaries, as "Comcast," "we," "us" and "our." Table of Contents This Annual Report on Form 10-K contains trademarks, service marks and trade names owned by us, as well as those owned by others. Numerical information in this report is presented on a rounded basis using actual amounts. Minor differences in totals and percentage calculations may exist due to rounding. Table of Contents Part I

: Business

Item 1: Business We are a global media and technology company that reaches customers, viewers and guests worldwide through the connectivity and platforms services we provide and the content and experiences we create. We deliver broadband, wireless, video and voice services primarily under the Xfinity, Comcast Business and Sky brands; produce, distribute and stream leading entertainment, sports and news through brands including NBC, Telemundo, Universal, Peacock and Sky; and own and operate Universal theme parks. We operate two primary businesses: Connectivity & Platforms: Contains our broadband, wireless, video and wireline voice businesses in the United States, United Kingdom and Italy (collectively, the "Connectivity & Platforms markets"). Also includes the operations of our Sky-branded entertainment television networks in the United Kingdom and Italy. Our Connectivity & Platforms business is reported in two segments, Residential Connectivity & Platforms and Business Services Connectivity. Content & Experiences: Contains our media and entertainment businesses that produce and distribute entertainment, sports, news and other content for global audiences and that own and operate theme parks and attractions in the United States and Asia. Our Content & Experiences business is reported in three segments, Media, Studios and Theme Parks. For additional information on our businesses and segments, including our segment change in the first quarter of 2023, refer to Item 7: Management's Discussion and Analysis of Financial Condition and Results of Operations and Note 2 to the consolidated financial statements included in this Annual Report on Form 10-K. Description of Our Businesses Connectivity & Platforms Business Residential Connectivity & Platforms Segment Our Residential Connectivity & Platforms segment primarily includes: Residential broadband and wireless services (collectively, "Residential Connectivity") Residential and business video services, Sky-br

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View this 10-K filing on SEC EDGAR