Professional Documents
Culture Documents
CMCSA
Comcast Corporation
HEMSCOTT produces its data from sources believed by it to be reliable, and will endeavor to insure that such data is complete, accurate and timely. However,
HEMSCOTT does not represent or warrant such completeness, accuracy or timeliness, and shall have no liability whatsoever to CUSTOMER, to any of CUSTOMER’s
clients, or to any other party, on account of any incompleteness of, inaccuracies in or lateness of the data. HEMSCOTT expressly disclaims all warranties of fitness of
the data or any part thereof for a particular purpose. EXCEPT FOR WARRANTING THAT IT HAS THE RIGHT TO PROVIDE THE DATA, HEMSCOTT MAKES NO EXPRESS OR
IMPLIED WARRANTIES OF ANY KIND WITH RESPECT TO THE DATA. IN NO EVENT SHALL HEMSCOTT BE LIABLE FOR LOST PROFITS OR CONSEQUENTIAL DAMAGES,
EVEN IF ADVISED OF THE POSSIBILITY THEREOF. For questions please contact our Client Services Department at ReportHelp@hemscott.com.
50%
S&P 500
40%
30%
20%
10%
CMCSA
0%
-10%
-20%
2003 2004 2005 2006 2007 2008
Monthly Price History Price Monthly High/Low 200-Day Moving Average Price Change vs. Market
Price Performance Business
2 Years
-36.1% CMCSA Segment
1 Year One Week +10.0% +7.0%
-15.9%
Year-to-Date This Month +19.0% +5.0%
$40 -4.7% 3 Months +17.0% -7.0%
6 Months +20.0% -5.0%
9 Months +32.0% -11.0%
$30 12 Months +40.0% -6.0%
Year-to-Date +56.0% -3.0%
$20
Volume Data
$10 Current Week Total Volume 110.68 Million
On-Balance Volume Index 85%
Daily Volume as Percent of
$0 10-Day Average Volume 30%
Average This Week’s Dollar Volume 1.75 Billion
Volume
327.3 M Weekly Volume as Percent of
Shares Outstanding 5.37%
2004 2005 2006 2007 2008 Liquidity Ratio 86,376
13.1
11.8
Normalized Low P/E 19.1 17 13 11
1.8
1.4
2.1
1.3
9.7
6.3
Price to LTM Revenue 1.5 19 18 28 2004 2005 2006 2007 2004 2005 2006 2007
64.8
65.6
64.5
63.8
EBIT Margin 20.6 86 79 66
0.9
0.9
2.3
2.3
Net Profit Margin 8.2 78 76 47 2004 2005 2006 2007 2004 2005 2006 2007
0.6
0.6
0.7
0.8
1.9
1.9
2.7
2.9
Interest Coverage 2.8 29 44 19 2004 2005 2006 2007 2004 2005 2006 2007
0.4
0.4
0.7
0.5
2004 2005 2006 2007 2004 2005 2006 2007
113.9
Percent Earnings to Industry -32.5 34.4 39.6 41.0 21.1 23.9 27.8
97.5
86.7
Percent EPS to Industry -33.0 100.0 121.5 138.3 65.9 74.8 94.8
250.0
239.0
202.0
162.0
178.7
Percent Price to Industry 75.8 91.0 99.3 70.1 84.0 85.7 94.7
Percent P/E to Industry na 81.2 47.7 46.5 123.8 115.1 100.9 12/06 3/07 6/07 9/07 12/07 3/08 6/08 9/08
Percent Gross Profit Margin to Industry 111.5 113.5 113.0 110.8 109.4 107.0 105.5
192.0
191.8
180.0
144.1
146.9
109.0
112.9
126.4
Percent Price/Cash Flow to Industry 70.4 98.0 128.3 90.0 127.5 126.9 129.2
Percent Price/Free Cash Flow to Industry 84.6 -67.8 -50.3 225.6 52.9 88.2 119.3
12/06 3/07 6/07 9/07 12/07 3/08 6/08 9/08
Percent Debt/Equity to Industry 31.4 56.3 51.9 50.3 52.1 48.7 49.0
Percent Net Profit Margin to Industry -76.9 115.8 155.4 161.5 83.0 95.1 113.9
77.8
75.0
55.6
88.9
62.5
50.0
60.0
66.7
British Sky Broadcasting Group plc 11,827.3 nm 26.99 9,872.0 -2,238.5 12.6 3,691.9
Viacom, Incorporated Class B 8,854.1 6.2 15.92 10,382.0 268.8 na na 12/06 3/07 6/07 9/07 12/07 3/08 6/08 9/08
Shaw Communications Inc CL B 6,936.5 58.9 17.09 2,920.7 111.5 15.5 18.6
Liberty Media Corporation New- Ente 5,855.0 nm 11.87 1,031.0 na na na
DISH Network Corporation Shs -A 4,953.4 5.9 11.08 8,696.2 196.9 15.4 na
Scripps Networks Interactive, Incor 4,550.6 nm 27.79 1,179.1 na na na Leverage Ratio to Industry
Cablevision Systems Corporation 4,354.3 43.1 14.66 5,178.1 35.4 10.6 na
Discovery Communications, Incorpora 4,021.0 nm 15.00 383.8 -26.1 na na
Liberty Global, Incorporated Class 3,355.5 nm 14.14 na na na na
NDS Group plc ADS 2,778.1 17.5 47.68 850.1 1,046.2 17.9 16.6
77.1
76.5
76.5
77.1
75.0
77.8
73.7
73.7
Liberty Global, Incorporated Class 2,095.8 nm 14.49 7,990.6 -91.7 na na
12/06 3/07 6/07 9/07 12/07 3/08 6/08 9/08
Liberty Global Incorporated Class B 1,987.4 nm 13.40 na na na na
Virgin Media, Incorporated 1,552.0 nm 4.73 5,305.7 -374.0 na na
+
This graph represents the
5 Year Average Revenue Growth
area encompassing the
universe of companies in the Services Sector Gaining Momentum Maintaining Good Momentum
Market that fall within 2 70%
LNET
standard deviations of the Revenue Growth Last Year
Market mean.
NETC 60%
Company groupings of 2
standard deviations from the
mean for the Sector and 50%
Business Segment are called
out for further detail. CATV Systems PNTVE
30%
-
Companies with data that fall outside of 2 standard deviations of the Business Segment average are not
displayed on the chart above.
Arthur R. Block
Senior Vice President, General Counsel and Secretary
Arthur R. Block has served as our Senior Vice President, General
Counsel and Secretary since November 2002. Prior to November
2002, Mr. Block served as General Counsel of Comcast Holdings
since June 2000 and as Senior Vice President of Comcast Holdings
since January 2000. Mr.
Annual Income Statement Fiscal Year Ends December 31 Income Statement Data in Millions of US Dollars Year-to-Date Information
2007 2006 2005 2004 2003 2002 2008 YTD
Operating Revenue $30,895 $24,966 $21,075 $19,221 $18,348 $8,102 Revenue $25 Billion
Cost of Sales 11,175 8,871 7,260 6,764 7,041 3,012 Income from Total Operations $2 Billion
Gross Operating Profit $19,720 $16,095 $13,815 $12,457 $11,307 $5,090 EPS from Total Operations $0.72
Selling, Gen. & Administrative Expense 7,934 6,514 5,490 5,005 4,915 2,254 Year-to-Date values are as of previous Quarter end.
Operating Profit before Depreciation (EBITDA) $11,786 $9,581 $8,325 $7,452 $6,392 $2,836
The trend graphs below display year-over-year
Depreciation Income 6,208 4,962 4,804 4,623 4,438 1,915 growth percentages over four years.
Interest Income 167 0 0 0 166 0
Earnings from Equity Interest (63) (124) (42) (81) (60) (63)
Other Income 960 1,163 36 869 (179) (542)
Income Statement Trends (%)
Other Special Charges (4) 0 0 0 0 0 Operating Revenue Gross Margin
Special Income Charges (4) 0 0 0 0 0
Interest Expense 2,289 2,064 1,795 1,874 2,018 870 23.8 22.5
Pretax Income (EBT) $4,349 $3,594 $1,720 $1,743 ($137) ($554) 18.5 16.5
9.7 10.9
4.8 10.2
Income Taxes 1,800 1,347 873 801 (16) (128)
Minority Interest Income (38) 12 19 14 97 43
Net Income from Continuing Operations $2,587 $2,235 $828 $928 ($218) ($469)
07 06 05 04 07 06 05 04
Net Income from Total Operations 2,587 2,533 928 970 3,240 (195)
Total Net Income $2,587 $2,533 $928 $970 $3,240 ($195)
Normalized Income $2,591 $2,235 $828 $928 ($218) ($469) Interest Income Cost of Sales
nm 26.0
22.2
7.3 3.9
07 06 05 04 07 06 05 04
Detailed EPS Analysis Shares in Millions, EPS Data in US Dollars EPS Analysis Trends (%)
2007 2006 2005 2004 2003 2002 Shares Outstanding Cont. Ops. EPS
Basic Weighted Shares Outstanding 3,098 3,160 3,295 3,360 3,382 1,664
Diluted Weighted Shares Outstanding 3,129 3,180 3,312 3,375 3,382 1,664 1.9 0.7 18.3
2.0 4.1
184
Basic EPS from Continuing Operations $0.84 $0.71 $0.25 $0.28 ($0.07) ($0.28)
Basic EPS from Discontinued Operations 0.00 0.09 0.03 0.01 1.03 0.11
Basic EPS from Total Operations 0.84 0.80 0.28 0.29 0.96 (0.17) 10.7 nm
Basic EPS Total 0.84 0.80 0.28 0.29 0.96 (0.17)
07 06 05 04 07 06 05 04
Basic EPS Normalized $0.84 $0.71 $0.25 $0.28 ($0.07) ($0.28)
Diluted EPS from Continuing Operations 0.83 0.70 0.25 0.28 (0.07) (0.28)
Diluted EPS from Discontinued Operations 0.00 0.09 0.03 0.01 1.03 0.11 Basic EPS Total EPS Normalized
Diluted EPS from Total Operations 0.83 0.79 0.28 0.29 0.96 (0.17)
Diluted EPS Total 0.83 0.79 0.28 0.29 0.96 (0.17)
5.0 186 18.3
184
Diluted EPS Normalized $0.83 $0.70 $0.25 $0.28 ($0.07) ($0.28)
07 06 05 04 07 06 05 04
Fiscal Year 2005 For the twelve months ending December 31, 2005
Segment Name % of Total Operating % of Total Total % of All % of Total Net Fixed % of Total
(SIC/Hemscott Code) Revenue Revenue Income Oper. Income Assets Total Assets Depreciation Depreciation Assets Fixed Assets
Cable (4841/725) 21,158,000 94.46 3,860,000 104.89 100,774,000 95.01 4,598,000 95.33 3,567,000 98.51
Corporate (0/725) 323,000 1.44 -308,000 -8.37 2,760,000 2.60 70,000 1.45 38,000 1.05
Content (0/725) 919,000 4.10 128,000 3.48 2,530,000 2.39 155,000 3.21 16,000 0.44
Third Quarter 2008 For the three months ending September 30, 2008
Cable (4841/725) 8,131,000 95.91 3,251,000 96.87 0 na 0 na 0 na
Corporate (0/725) 0 0.00 0 0.00 0 na 0 na 0 na
Programming (0/725) 347,000 4.09 105,000 3.13 0 na 0 na 0 na
x (0/725) 0 0.00 0 0.00 0 na 0 na 0 na
Second Quarter 2008 For the three months ending June 30, 2008
Cable (4841/725) 8,100,000 95.68 1,825,000 97.65 0 na 3,085,000 96.89 2,609,000 99.62
Corporate (0/725) 0 0.00 0 0.00 0 na 0 0.00 0 0.00
Programming (0/725) 366,000 4.32 44,000 2.35 0 na 99,000 3.11 10,000 0.38
x (0/725) 0 0.00 0 0.00 0 na 0 0.00 0 0.00
First Quarter 2008 For the three months ending March 31, 2008
Cable (4841/725) 7,916,000 95.62 1,594,000 96.43 0 na 1,548,000 96.63 1,355,000 99.71
Corporate (0/725) 0 0.00 0 0.00 0 na 0 0.00 0 0.00
Programming (0/725) 363,000 4.38 59,000 3.57 0 na 54,000 3.37 4,000 0.29
x (0/725) 0 0.00 0 0.00 0 na 0 0.00 0 0.00
Annual Balance Sheet Fiscal Year Ends December 31 Balance Sheet Data in Millions of US Dollars Balance Sheet Trends (%)
2007 2006 2005 2004 2003 2002 Cash & Equivalents Current Assets
Cash and Equivalents $963 $1,239 $947 $452 $1,550 $505
Marketable Securities 98 1,735 148 1,555 2,493 3,258 30.8 82.7
Receivables 1,645 1,450 1,008 959 907 862 22.3 110 29.5
Prepaid Expenses 0 0 0 261 0 0 34.6
19.4
Current Deferred Income Taxes Asset 214 0 0 0 0 0
70.8
Other Current Assets + 747 778 745 308 453 2,474
Total Current Assets = $3,667 $5,202 $2,848 $3,535 $5,403 $7,099
07 06 05 04 07 06 05 04
Land and Improvements 202 163 148 152 152 0
Buildings and Improvements 1,667 33,236 27,016 25,604 23,864 0
Machinery, Furniture, and Equipment 30,351 0 0 2,371 1,020 0
Other Fixed Assets 11,212 3,355 2,619 0 0 22,236 Non-Current Assets Total Assets
Gross Fixed Assets 43,432 36,754 29,783 28,127 25,036 22,236
Accumulated Depreciation and Depletion 19,808 15,506 12,079 9,416 6,563 3,855
4.3 4.6 2.7 6.8
Intangibles 62,816 60,808 51,922 68,942 69,750 70,213 0.6 2.5 1.2 4.1
Cost in Excess 14,705 13,768 13,498 0 0 0
Other Non-Current Assets + 8,605 9,379 17,428 13,506 15,533 17,435
Total Non-Current Assets = $109,750 $105,203 $100,552 $101,159 $103,756 $106,029
Accounts Payable 3,336 2,862 2,239 2,041 2,355 1,296 Accounts Payable Current Liabilities
Short Term Debt 1,495 983 1,689 3,499 3,161 6,953
Accrued Expenses 0 0 0 0 3,459 5,236
Accrued Liabilities 494 453 360 337 0 0 16.6 10.6
27.8 10.6
Current Deferred Income Taxes Liabilities 0 314 2 360 679 1,105 10.2
24.5
9.7
Other Current Liabilities + 2,627 2,579 2,234 2,398 0 816 13.3
Total Current Liabilities = $7,952 $7,191 $6,524 $8,635 $9,654 $15,406
07 06 05 04 07 06 05 04
Annual Balance Sheet, continued Fiscal Year Ends December 31 Balance Sheet Data in Millions of US Dollars Balance Sheet Trends (%)
2007 2006 2005 2004 2003 2002 Other Curr. Assets Long-Term Debt
Total Liabilities $72,077 $69,238 $63,181 $63,272 $67,497 $74,800
Total Equity + 41,340 41,167 40,219 41,422 41,662 38,329 4.4 6.6
4.0 142 29.1
Total Liabilities & Stock Equity = $113,417 $110,405 $103,400 $104,694 $109,159 $113,129
7.9 15.7
32.0
07 06 05 04 07 06 05 04
Annual Cash Flow Fiscal Year Ends December 31 Cash Flow Data in Millions of US Dollars Cash Flow Trends (%)
2007 2006 2005 2004 2003 2002 Net Income From Operations
Net Income (Loss) $2,587 $2,533 $928 $970 ($218) ($469)
Depreciation Cash Flow 5,107 3,967 3,666 3,469 3,166 1,694 2.1 173 32.9
Amortization Cash Flow 1,101 995 1,138 1,154 1,272 221
36.9 113
Deferred Income Taxes Cash Flow 247 674 183 531 820 (95)
20.5
Operating Gains (Losses) (310) (843) 7 (608) (1,806) 720
4.3 nm
Increase (Decrease) in Receivables (100) (357) (97) (54) (45) 80
Increase (Decrease) in Payables 175 560 (152) (163) 35 220
Increase (Decrease) in Other Working Capital (352) (497) (912) 12 (370) 50
07 06 05 04 07 06 05 04
Other Non-Cash Items 337 322 74 771 0 0
Net Cash from Discontinued Operations + 0 (736) 0 0 0 0
Net Cash from Operating Activities = $8,792 $6,618 $4,835 $6,082 $2,854 $2,421
From Investing Short Term Invst.
Sale of Long Term Investments 1,158 2,720 0 0 0 0
Sale of Short Term Investments 0 33 861 228 7,971 1,263 11.4 163 16.9 nm 0.0 nm 132 27.8
Purchase of Property/Plant/Equipment (6,564) (4,701) (3,621) (3,660) (4,161) (1,852)
Acquisitions (1,319) (5,110) (199) (296) (152) (251)
Purchase of Long Term Investments (2,089) (2,812) 0 0 0 0
Purchase of Short Term Investments 0 0 (392) (169) (234) (88)
Net Other Investment Changes + 62 (2) (397) (615) 1,815 (197)
Net Cash from Investment Activities = ($8,752) ($9,872) ($3,748) ($4,512) $5,239 ($1,125)
07 06 05 04 07 06 05 04
Issuance of Debt 3,713 7,497 3,978 1,030 9,398 8,759
Issuance of Capital Stock 412 410 93 113 67 19
Repayment of Long Term Debt (1,401) (2,039) (2,706) (2,323) (16,465) (9,508) Stock Issuance From Financing
Repurchase of Capital Stock (3,102) (2,347) (2,313) (1,361) (14) 0
Net Other Finance Charges + 62 25 15 25 (34) (275)
= 0.5 341 nm
Net Cash from Financing Activities ($316) $3,546 ($933) ($2,516) ($7,048) ($1,005)
Net Cash from Operating Activities 8,792 6,618 4,835 6,082 2,854 2,421
Net Cash from Investment Activities (8,752) (9,872) (3,748) (4,512) 5,239 (1,125) nm 62.9 64.3
+ 17.7 68.7
Net Cash from Financing Activities (316) 3,546 (933) (2,516) (7,048) (1,005)
Net Change in Cash = ($276) $292 $154 ($946) $1,045 $291
07 06 05 04 07 06 05 04
Cash at Beginning of Period 1,239 947 793 1,739 505 214
Net Change in Cash + (276) 292 154 (946) 1,045 291
Cash at End of Period = $963 $1,239 $947 $793 $1,550 $505
Change in Cash Ending Cash
89.6 30.8
nm
nm nm 22.3 19.4
48.8
07 06 05 04 07 06 05 04
Quarterly Income Statement Fiscal Year Ends December 31 Income Statement Data in Millions of US Dollars Most Recent Qtr. Information
Q3 2008 Q2 2008 Q1 2008 Q4 2007 Q3 2007 Q2 2007 2008 MRQ
Operating Revenue $8,549 $8,553 $8,389 $8,014 $7,781 $7,712 Revenue $9 Billion
Cost of Sales 3,095 3,091 3,107 2,903 2,759 2,754 Income from Total Operations $2 Billion
Gross Operating Profit $5,454 $5,462 $5,282 $5,111 $5,022 $4,958 EPS from Total Operations $0.26
Selling, Gen. & Administrative Expense 2,217 2,111 2,108 2,029 2,093 1,946
Operating Profit before Depreciation (EBITDA) $3,237 $3,351 $3,174 $3,082 $2,929 $3,012
The trend graphs below display quarter-over-
Depreciation Income 1,567 1,601 1,619 1,624 1,538 1,544
quarter growth percentages over four quarters.
Interest Income 12 18 19 41 35 34
Earnings from Equity Interest 2 (13) (35) (14) (12) (16)
Other Income 77 (63) 330 115 122 93
Income Statement Trends (%)
Other Special Charges (3) 0 (2) (4) 0 0 Operating Revenue Gross Margin
Special Income Charges (3) 0 (2) (4) 0 0
Interest Expense 601 618 621 600 571 550 0.1 2.0 0.2 3.4
4.7 3.0 3.4 1.8
Pretax Income (EBT) $1,157 $1,074 $1,246 $996 $965 $1,029
Normalized Income $774 $632 $734 $606 $560 $588 Interest Income Cost of Sales
Basic EPS from Continuing Operations $0.26 $0.21 $0.24 $0.20 $0.18 $0.19
Basic EPS from Total Operations 0.26 0.21 0.24 0.20 0.18 0.19 Normalized Income Total Income
Basic EPS Total 0.26 0.21 0.24 0.20 0.18 0.19
22.5 21.1 22.0 21.6
Basic EPS Normalized $0.26 $0.21 $0.24 $0.20 $0.18 $0.19
13.9 8.2 13.7 7.5
Diluted EPS from Continuing Operations 0.26 0.21 0.24 0.20 0.18 0.19
Diluted EPS from Total Operations 0.26 0.21 0.24 0.20 0.18 0.19
Diluted EPS Total 0.26 0.21 0.24 0.20 0.18 0.19
Diluted EPS Normalized $0.26 $0.21 $0.24 $0.20 $0.18 $0.19 9/08 6/08 3/08 12/07 9/08 6/08 3/08 12/07
Quarterly Balance Sheet Fiscal Year Ends December 31 Balance Sheet Data in Millions of US Dollars Balance Sheet Trends (%)
Qundefined 2008 Qundefined 2008 Qundefined 2008 Qundefined 2007 Qundefined 2007 Qundefined 2007 Cash & Equivalents Current Assets
Cash and Equivalents $2,714 $1,767 $635 $963 $2,949 $828
Marketable Securities 203 295 86 98 65 395 53.6 18.6
Receivables 1,658 1,665 1,497 1,645 1,598 1,441 49.7
Current Deferred Income Taxes Asset 0 0 0 214 0 0 178 32.1
15.4
Other Current Assets + 938 920 886 747 785 878
= 67.3
Total Current Assets $5,513 $4,647 $3,104 $3,667 $5,397 $3,542 34.1
Total Current Liabilities 9,259 8,089 7,403 7,952 6,704 6,839 Total Equity Total Liabilities
Total Non-Current Liabilities + 65,033 65,471 64,623 64,125 64,579 62,092
Total Liabilities = $74,292 $73,560 $72,026 $72,077 $71,283 $68,931 0.3 1.1 1.3 1.3 1.0 2.1 0.1 1.1
Quarterly Balance Sheet, continued Fiscal Year Ends December 31 Balance Sheet Data in Millions of US Dollars Balance Sheet Trends (%)
Qundefined 2008 Qundefined 2008 Qundefined 2008 Qundefined 2007 Qundefined 2007 Qundefined 2007 Other Curr. Assets Long-Term Debt
Total Liabilities $74,292 $73,560 $72,026 $72,077 $71,283 $68,931
Total Equity + 40,204 40,337 40,798 41,340 41,888 41,825 2.0 0.1 2.1
3.8 18.6 0.6 1.7
Total Liabilities & Stock Equity = $114,496 $113,897 $112,824 $113,417 $113,171 $110,756 4.8
Quarterly Cash Flow Fiscal Year Ends December 31 Cash Flow Data in Millions of US Dollars Cash Flow Trends (%)
Q3 2008 Q2 2008 Q1 2008 Q4 2007 Q3 2007 Q2 2007 Net Income From Operations
Net Income (Loss) $2,135 $1,364 $732 $2,587 $1,985 $1,425
Depreciation Cash Flow 4,093 2,761 1,390 5,107 3,768 2,477 30.3 43.9
Amortization Cash Flow 694 459 229 1,101 816 569 56.5 49.6
Deferred Income Taxes Cash Flow 609 403 232 247 160 197
86.3 118
Operating Gains (Losses) (273) (202) (275) (310) (240) (242)
Increase (Decrease) in Receivables 4 (7) 162 (100) (51) 72 71.7 74.3
Increase (Decrease) in Payables (21) (69) (144) 175 10 (80)
Increase (Decrease) in Other Working Capital (227) (36) (186) (352) (592) (163)
9/08 6/08 3/08 12/07 9/08 6/08 3/08 12/07
Other Non-Cash Items + 359 255 119 337 252 135
Net Cash from Operating Activities = $7,373 $4,928 $2,259 $8,792 $6,108 $4,390
Sale of Long Term Investments 0 0 0 1,158 1,123 805 From Investing Short Term Invst.
Sale of Short Term Investments 452 320 49 0 52 56
Purchase of Property/Plant/Equipment (4,413) (2,976) (1,557) (6,564) (4,897) (3,287) 55.3 97.3 82.4 72.2 63.4 57.7 nm 0.0
Acquisitions (700) (331) (29) (1,319) (1,277) (770)
Purchase of Long Term Investments 0 0 0 (2,089) (129) (52)
Purchase of Short Term Investments (67) (41) (26) 0 0 0
Net Other Investment Changes + (2) (17) 20 62 46 43
Net Cash from Investment Activities = ($4,730) ($3,045) ($1,543) ($8,752) ($5,082) ($3,205)
Issuance of Debt 3,513 2,009 192 3,713 3,610 590 9/08 6/08 3/08 12/07 9/08 6/08 3/08 12/07
Issuance of Capital Stock 53 42 10 412 404 334
Repayment of Long Term Debt (1,143) (831) (218) (1,401) (1,529) (1,320)
Repurchase of Capital Stock (2,800) (1,979) (1,000) (3,102) (1,852) (1,252) Stock Issuance From Financing
Payment of Cash Dividends (367) (185) 0 0 0 0
Net Other Finance Charges + (148) (135) (28) 62 51 52
= 2.0 17.3 3.4 230 nm
Net Cash from Financing Activities ($892) ($1,079) ($1,044) ($316) $684 ($1,596)
Net Cash from Operating Activities 7,373 4,928 2,259 8,792 6,108 4,390
Net Cash from Investment Activities (4,730) (3,045) (1,543) (8,752) (5,082) (3,205)
Net Cash from Financing Activities + (892) (1,079) (1,044) (316) 684 (1,596) 26.2 320
Net Change in Cash = $1,751 $804 ($328) ($276) $1,710 ($411) 97.6
9/08 6/08 3/08 12/07 9/08 6/08 3/08 12/07
Cash at Beginning of Period 963 963 963 1,239 1,239 1,239
Net Change in Cash + 1,751 804 (328) (276) 1,710 (411)
Cash at End of Period = $2,714 $1,767 $635 $963 $2,949 $828
Change in Cash Ending Cash
118 53.6
nm 178
67.3
18.8 nm 34.1
49.2
46.0
47.0
71.5
50.1
47.7
57.5
52.9
Insider 0.00 0.01 3.16 3.03 3.42 0.65 0.84
0.21 0.34 0.33 0.27 0.18
Shares Jul Aug Aug Sep Sep Oct Oct Nov
Sold
in Millions
2.4
2.0
3.1
3.7
1.9
1.2
1.8
1.9
October November December January '08 February March April May June July August September Jul Aug Aug Sep Sep Oct Oct Nov
Institutional Holdings
An Increasing Short Interest indicates a greater
Shares number of people who are anticipating the price
Bought
in Millions of the stock to go down. The Average Short
Interest Ratio in the S&P 500 is 2.5%.
152 150 227 286 284 272 369 371 354 86.33 85.64 98.09
Shares 172 171 163 253 254 255 115 115 123 319 320 332 Stock Split History
Sold
in Millions Split Date Split Factor
2/22/2007 1.5 for 1
5/6/1999 2 for 1
2/3/1994 1.5 for 1
10/25/1989 1.5 for 1
4/11/1988 1.5 for 1
Total
12/19/1986 1.5 for 1
Shares
Held 6/28/1985 1.5 for 1
in Billions 9/19/1984 1.5 for 1
1/6/1983 1.5 for 1
1.61 1.61 1.69 1.65 1.63 1.63 1.86 1.86 1.86 1.63 1.64 1.64
1,016 1,012 982 984 982 980 952 953 973 966 964 958 Number of Institutions
November December January '08 February March April May June July August September October Holding Shares of CMCSA