Comcast Corp. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Comcast Corporation filed its quarterly 10-Q report for the period ending March 31, 2024, detailing financial statement components and debt instruments.</b>

AI Summary

COMCAST CORP (CCZ) filed a Quarterly Report (10-Q) with the SEC on April 25, 2024. Comcast Corporation filed a 10-Q report for the quarterly period ended March 31, 2024. The filing covers the period from January 1, 2024, to March 31, 2024. Key financial statement items such as Common Stock, Additional Paid-In Capital, Retained Earnings, Treasury Stock, and Accumulated Other Comprehensive Income are detailed. The report includes data for the current period and comparative periods, including December 31, 2023, and March 31, 2023. Specific debt instruments like Notes with varying interest rates and maturity dates are referenced.

Why It Matters

For investors and stakeholders tracking COMCAST CORP, this filing contains several important signals. This filing provides investors with an updated view of Comcast's financial health and capital structure as of the end of Q1 2024. The detailed breakdown of equity and debt components is crucial for understanding the company's financial leverage and stability.

Risk Assessment

Risk Level: low — COMCAST CORP shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not indicate any immediate or significant financial distress or unusual events.

Analyst Insight

Review the detailed financial statements and notes within the 10-Q to assess Comcast's performance and financial position in Q1 2024.

Key Numbers

• 2024-03-31 — Period End Date (Quarterly period)
• 2024-01-01 — Period Start Date (Quarterly period)
• 2023-03-31 — Comparative Period End Date (Prior year quarter)
• 2023-01-01 — Comparative Period Start Date (Prior year quarter)

Key Players & Entities

• COMCAST CORP (company) — Filer name
• 2024-03-31 (date) — Period of report
• 2024-04-25 (date) — Filed as of date
• PA (location) — State of incorporation
• PHILADELPHIA (location) — Business address city
• 19103-2838 (postal_code) — Business address zip
• 215-286-1700 (phone_number) — Business phone
• AT&T COMCAST CORP (company) — Former company name

FAQ

Industry Context

Comcast operates in the cable and telecommunications industry, providing broadband internet, video, voice, and wireless services.

Regulatory Implications

The filing is a standard Form 10-Q, which is a quarterly report required by the SEC for publicly traded companies.

What Investors Should Do

1. Analyze the balance sheet for changes in assets, liabilities, and equity compared to the previous quarter and year.
2. Review the statement of cash flows to understand operating, investing, and financing activities during Q1 2024.
3. Examine the notes to the financial statements for any significant disclosures regarding debt, commitments, or contingencies.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-04-25: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal year 2024, providing the first quarterly update after the year-end report.

Key Financial Figures

• $0.01 — which registered Class A Common Stock, $0.01 par value CMCSA The Nasdaq Stock Market

Filing Documents

• cmcsa-20240331.htm (10-Q) — 1248KB
• ex31-3312024.htm (EX-31) — 18KB
• ex32-3312024.htm (EX-32) — 6KB
• cmcsa-20240331_g1.jpg (GRAPHIC) — 32KB
• 0001166691-24-000031.txt (&nbsp;) — 5413KB
• cmcsa-20240331.xsd (EX-101.SCH) — 40KB
• cmcsa-20240331_cal.xml (EX-101.CAL) — 77KB
• cmcsa-20240331_def.xml (EX-101.DEF) — 165KB
• cmcsa-20240331_lab.xml (EX-101.LAB) — 400KB
• cmcsa-20240331_pre.xml (EX-101.PRE) — 282KB
• cmcsa-20240331_htm.xml (XML) — 680KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements 1 Condensed Consolidated Statements of Income (Unaudited) 1 Condensed Consolidated Statements of Comprehensive Income (Unaudited) 2 Condensed Consolidated Statements of Cash Flows (Unaudited) 3 Condensed Consolidated Balance Sheets (Unaudited) 4 Condensed Consolidated Statements of Changes in Equity (Unaudited) 5 Notes to Condensed Consolidated Financial Statements (Unaudited) 6 Note 1: Condensed Consolidated Financial Statements 6 Note 2: Segment Information 6 Note 3: Revenue 8 Note 4: Programming and Production Costs 9 Note 5: Debt 9 Note 6: Investments and Variable Interest Entities 9 Note 7 : Equity and Share-Based Compensation 1 1 Note 8 : Supplemental Financial Information 1 1 Note 9 : Commitments and Contingencies 1 2

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 13

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 28

Controls and Procedures

Item 4. Controls and Procedures 28

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 29

Risk Factors

Item 1A. Risk Factors 29

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29

Exhibits

Item 6. Exhibits 29

SIGNATURES

SIGNATURES 30 Explanatory Note This Quarterly Report on Form 10-Q is for the three months ended March 31, 2024. This Quarterly Report on Form 10-Q 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 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. Unless indicated otherwise, throughout this Quarterly Report on Form 10-Q, we refer to Comcast and its consolidated subsidiaries as "Comcast," "we," "us" and "our." 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. CAUTION CONCERNING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q includes statements that may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are not historical facts or statements of current conditions, but instead represent only our beliefs regarding future events, many of which, by their nature, are inherently uncertain and outside of our control. These may include estimates, projections and statements relating to our business plans, objectives and expected operating results, which are based on current expectations and assumptions that are subject to risks and uncertainties that may cause actual results to differ materially. These forward-looking statements are generally identified by the words "believe," "project," "expect," "ant

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION

: FINANCIAL STATEMENTS

ITEM 1: FINANCIAL STATEMENTS Comcast Corporation Condensed Consolidated Statements of Income (Unaudited) Three Months Ended March 31, (in millions, except per share data) 2024 2023 Revenue $ 30,058 $ 29,691 Costs and Expenses: Programming and production 8,823 9,004 Marketing and promotion 2,018 1,963 Other operating and administrative 9,857 9,301 Depreciation 2,175 2,264 Amortization 1,376 1,513 Total costs and expenses 24,248 24,045 Operating income 5,810 5,646 Interest expense ( 1,002 ) ( 1,010 ) Investment and other income (loss), net 298 607 Income before income taxes 5,105 5,243 Income tax expense ( 1,328 ) ( 1,476 ) Net income 3,777 3,767 Less: Net income (loss) attributable to noncontrolling interests ( 79 ) ( 67 ) Net income attributable to Comcast Corporation $ 3,857 $ 3,834 Basic earnings per common share attributable to Comcast Corporation shareholders $ 0.97 $ 0.91 Diluted earnings per common share attributable to Comcast Corporation shareholders $ 0.97 $ 0.91 See accompanying notes to condensed consolidated financial statements. 1 Table of Contents Comcast Corporation Condensed Consolidated Statements of Comprehensive Income (Unaudited) Three Months Ended March 31, (in millions) 2024 2023 Net income $ 3,777 $ 3,767 Other comprehensive income (loss), net of tax (expense) benefit: Currency translation adjustments, net of deferred taxes of $( 21 ) and $( 2 ) ( 436 ) 778 Cash flow hedges: Deferred gains (losses), net of deferred taxes of $( 1 ) and $ 9 19 ( 14 ) Realized (gains) losses reclassified to net income, net of deferred taxes of $( 1 ) and $ 8 1 ( 47 ) Employee benefit obligations and other, net of deferred taxes of $ 5 and $ 1 ( 24 ) ( 6 ) Other comprehensive income (loss) ( 440 ) 711 Comprehensive income 3,337 4,478 Less: Net income (loss) attributable to noncontrolling interests ( 79 ) ( 67 ) Less: Other comprehensive income (loss) attributable to noncontrolling interests ( 13 ) ( 3 )

View Full Filing

View this 10-Q filing on SEC EDGAR