Comcast Files Q3 2024 10-Q, Details Debt Maturities

TL;DR

Comcast's Q3 10-Q shows significant debt due between 2026-2040 with varying interest rates.

AI Summary

Comcast Corporation filed its 10-Q for the period ending September 30, 2024, reporting on its financial performance. The filing details various debt instruments, including notes due in 2026, 2027, 2029, 2032, 2036, and 2040, with interest rates ranging from 0.250% to 5.50%. The company's fiscal year ends on December 31.

Why It Matters

This filing provides insight into Comcast's debt structure and upcoming financial obligations, which can impact its borrowing costs and financial flexibility.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report and does not indicate any immediate or significant new risks.

Key Numbers

• 2024-09-30 — Reporting Period End Date (Indicates the financial data covers the first nine months of 2024.)
• 2026-2040 — Debt Maturity Years (Highlights the range of years in which Comcast's notes are due.)
• 0.250% — Lowest Note Interest Rate (Represents the lowest coupon rate on a debt issuance due in 2027.)

Key Players & Entities

• Comcast Corporation (company) — Filer of the 10-Q report
• 2024-09-30 (date) — End of the reporting period
• 2026 (date) — Maturity year for some notes
• 5.50% (dollar_amount) — Highest interest rate on notes due 2029

FAQ

Key Financial Figures

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

Filing Documents

• cmcsa-20240930.htm (10-Q) — 1721KB
• ex31-9302024.htm (EX-31) — 18KB
• ex32-9302024.htm (EX-32) — 6KB
• cmcsa-20240930_g1.jpg (GRAPHIC) — 8KB
• 0001166691-24-000056.txt ( ) — 6381KB
• cmcsa-20240930.xsd (EX-101.SCH) — 40KB
• cmcsa-20240930_cal.xml (EX-101.CAL) — 73KB
• cmcsa-20240930_def.xml (EX-101.DEF) — 162KB
• cmcsa-20240930_lab.xml (EX-101.LAB) — 414KB
• cmcsa-20240930_pre.xml (EX-101.PRE) — 275KB
• cmcsa-20240930_htm.xml (XML) — 956KB

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 7 Note 3: Revenue 9 Note 4: Programming and Production Costs 10 Note 5: Debt 10 Note 6: Investments and Variable Interest Entities 11 Note 7: Equity and Share-Based Compensation 1 2 Note 8: Supplemental Financial Information 1 3 Note 9: Commitments and Contingencies 1 3

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 14

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 31

Controls and Procedures

Item 4. Controls and Procedures 31

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 32

Risk Factors

Item 1A. Risk Factors 32

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32

Exhibits

Item 6. Exhibits 32

SIGNATURES

SIGNATURES 33 Explanatory Note This Quarterly Report on Form 10-Q is for the three and nine months ended September 30, 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 words such as "believe," "project

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION

: FINANCIAL STATEMENTS

ITEM 1: FINANCIAL STATEMENTS Comcast Corporation Condensed Consolidated Statements of Income (Unaudited) Three Months Ended September 30, Nine Months Ended September 30, (in millions, except per share data) 2024 2023 2024 2023 Revenue $ 32,070 $ 30,115 $ 91,817 $ 90,319 Costs and Expenses: Programming and production 10,216 8,652 27,000 26,506 Marketing and promotion 1,989 1,866 5,929 5,929 Other operating and administrative 10,128 9,629 29,615 28,247 Depreciation 2,219 2,203 6,548 6,662 Amortization 1,659 1,290 4,421 4,146 Total costs and expenses 26,211 23,640 73,512 71,489 Operating income 5,859 6,475 18,304 18,830 Interest expense ( 1,037 ) ( 1,060 ) ( 3,065 ) ( 3,068 ) Investment and other income (loss), net ( 3 ) 50 ( 140 ) 672 Income before income taxes 4,819 5,465 15,099 16,434 Income tax expense ( 1,243 ) ( 1,468 ) ( 3,906 ) ( 4,481 ) Net income 3,576 3,997 11,192 11,954 Less: Net income (loss) attributable to noncontrolling interests ( 53 ) ( 49 ) ( 222 ) ( 175 ) Net income attributable to Comcast Corporation $ 3,629 $ 4,046 $ 11,415 $ 12,128 Basic earnings per common share attributable to Comcast Corporation shareholders $ 0.94 $ 0.98 $ 2.92 $ 2.92 Diluted earnings per common share attributable to Comcast Corporation shareholders $ 0.94 $ 0.98 $ 2.90 $ 2.90 See accompanying notes to condensed consolidated financial statements. 1 Table of Contents Comcast Corporation Condensed Consolidated Statements of Comprehensive Income (Unaudited) Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2024 2023 2024 2023 Net income $ 3,576 $ 3,997 $ 11,192 $ 11,954 Other comprehensive income (loss), net of tax (expense) benefit: Currency translation adjustments, net of deferred taxes of $( 31 ), $( 20 ), $( 74 ) and $( 42 ) 1,889 ( 1,154 ) 1,322 114 Cash flow hedges: Deferred gains (losses), net of deferred taxes of $ 3 , $( 19 ), $ 1 , and $ 4 ( 19 ) 62 5 41 Realized (gains) losses reclassified

View Full Filing

View this 10-Q filing on SEC EDGAR