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•	Cable Communications: Consists of the operations of Comcast Cable, which is one of the nation’s largest providers of video, high-speed Internet, voice, and security and automation services (“cable services”) to residential customers under the Xfinity brand; we also provide these and other services to business customers and sell advertising.

•	Cable Networks: Consists primarily of our national cable networks that provide a variety of entertainment, news and information, and sports content, our regional sports and news networks, our international cable networks, our cable television studio production operations, and various digital properties.

•	Broadcast Television: Consists primarily of the NBC and Telemundo broadcast networks, our NBC and Telemundo owned local broadcast television stations, the NBC Universo national cable network, our broadcast television studio production operations, and various digital properties.

•	Filmed Entertainment: Consists primarily of the operations of Universal Pictures, which produces, acquires, markets and distributes filmed entertainment worldwide; our films are also produced under the Illumination, DreamWorks Animation and Focus Features names.

•	Theme Parks: Consists primarily of our Universal theme parks in Orlando, Florida; Hollywood, California; and Osaka, Japan.

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(a)	Homes and businesses are considered passed if we can connect them to our distribution system without further extending the transmission lines. Homes and businesses passed is estimated based on the best available information.

(b)

Generally, a home or business receiving video programming from our distribution system counts as one video customer. For multiple dwelling units (“MDUs”), including buildings located on college campuses, whose residents have the ability to receive additional cable services, such as additional programming choices or our high-definition video (“HD”) or digital video recorder (“DVR”) advanced services, we count and report customers based on the number of potential billable relationships within each MDU. For MDUs whose residents are not able to receive additional cable services, the MDU is counted as a single customer.

(c)	In 2017, we began to offer prepaid services that allow customers to prepay for at least 30 days of service. Residential video and high-speed Internet customers as of December 31, 2017 included prepaid customers totaling approximately 3,000 and 60,000, respectively.

(d)	Penetration is calculated by dividing the number of customers by the number of homes and businesses passed.

(e)	Customer relationships represent the number of residential and business customers that subscribe to at least one of our cable services. Beginning in 2017, we include customers subscribing to our security and automation services in customer relationship information. All periods presented have been adjusted for the inclusion of security and automation customers.

(f)	Single product customers, double product customers, and triple and quad product customers represent residential customers that subscribe to one, two, or three and four primary services, respectively.

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(a)

Household data is based on The Nielsen Company’s January 2018 report, which is derived from information available during the period from November 27, 2017 through December 25, 2017, except for The Olympic Channel, which is derived from information provided by multichannel video providers. The Nielsen report now includes estimates based on subscribers to both traditional and certain virtual multichannel video providers. The Nielsen report is not based on information provided by us and is included solely to permit comparisons between our cable networks and those operated by our peers.

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(a)	DMA served is defined by Nielsen Media Research as a geographic market for the sale of national spot and local advertising time.

(b)	General market rank is based on the relative size of the DMA among the 210 generally recognized DMAs in the United States based on Nielsen estimates for the 2017-18 season.

(c)	Based on Nielsen estimates for the 2017-18 season. The percentage of U.S. television households does not reflect the calculation of national audience reach under the Federal Communications Commission’s (“FCC”) national television ownership cap limits. See “Legislation and Regulation — Broadcast Television — Ownership Limits — National Television Ownership.”

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(a)	DMA served is defined by Nielsen Media Research as a geographic market for the sale of national spot and local advertising time.

(b)	Hispanic market rank is based on the relative size of the DMA among approximately 15 million U.S. Hispanic households based on Nielsen estimates for the 2017-18 season.

(c)	Based on Nielsen estimates for the 2017-18 season. The percentage of U.S. Hispanic television households does not reflect the calculation of national audience reach under the FCC’s national television ownership cap limits. See “Legislation and Regulation — Broadcast Television — Ownership Limits — National Television Ownership.”

(d)	Operated by a third party that provides certain non-network programming and operations services under a time brokerage agreement.

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•	DBS providers, including AT&T’s DIRECTV and DISH Network, that transmit satellite signals to substantially all U.S. households to provide video programming and other information similar to our video services

•	phone companies, including AT&T and Verizon, that have built and continue to build fiber-based networks that provide cable services similar to ours, which overlap a substantial portion of our service areas, and that in some cases offer bundled offerings that include wireless phone services

•	online video distributors including:

◦	virtual multichannel video providers who offer streaming services for linear programming that generally involve smaller packages of programming networks at prices lower than our traditional video service package offerings

◦	subscription video on demand services, such as those offered by Amazon, Hulu and Netflix, that offer online services and devices that enable Internet streaming and downloading of movies, television shows and other video programming

◦	premium, cable and broadcast networks that provide content directly to consumers

•	other providers that build and operate wireline communications systems in the same communities that we serve, including those operating as franchised cable operators

•	satellite master antenna television systems that offer to their subscribers both improved reception of local broadcast television stations and much of the programming offered by our cable systems and generally serve MDUs, office complexes and residential developments

•	other companies, such as local broadcast television stations, that provide multiple channels of free over-the-air programming, as well as video rental services and home entertainment and gaming products

•	wireline phone companies and other providers of wireline Internet service

•	wireless phone companies and other providers of wireless Internet service

•	municipal broadband networks and power companies

•	satellite broadband providers

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(a)	Effective January 1, 2017, our Board of Directors increased our share repurchase program authorization to $12 billion, which does not have an expiration date. As of December 31, 2017, $7 billion remained under this authorization.

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(a)

For 2017, 2016 and 2015, refer to Item 7: Management’s Discussion and Analysis of Financial Condition and Results of Operations included in this Annual Report on Form 10-K for a discussion of the effects of items impacting net income attributable to Comcast Corporation. In 2017, 2016, 2015, 2014 and 2013, net income attributable to Comcast Corporation is stated after deducting net income attributable to noncontrolling interests of $186 million, $350 million, $250 million, $212 million and $319 million, respectively.

(b)	Per share amounts are presented on a post-split basis (see Note 1 to Comcast’s consolidated financial statements).

(c)

2017 net income attributable to Comcast Corporation and earnings per common share attributable to Comcast Corporation shareholders included a $12.7 billion net income tax benefit as a result of the impacts of the 2017 tax reform legislation. Refer to Item 7: Management’s Discussion and Analysis of Financial Condition and Results of Operations and Note 14 to Comcast’s consolidated financial statements for further discussion.

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(a)	Adjusted EBITDA is a performance measure that is not defined by generally accepted accounting principles in the United States (“GAAP”). Refer to the “Non-GAAP Financial Measure” section on page 50 for additional information, including our definition and our use of Adjusted EBITDA, and for a reconciliation from net income attributable to Comcast Corporation to Adjusted EBITDA.

(a)	Charts exclude the results of NBCUniversal Headquarters and Other, Corporate and Other, and eliminations.

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•	An increase in revenue of 4.9% to $52.5 billion and an increase in Adjusted EBITDA of 5.3% to $21.2 billion

•	An increase in operating margin from 40.2% to 40.3% that reflects increases in high-speed Internet, video and business services revenue, offset by higher programming expenses

•	An increase in capital expenditures of 4.7% to $8.0 billion that reflects:

•	increased investments in scalable infrastructure to increase network capacity;

•	increased investments in line extensions, primarily for the expansion of our business services; and

•	decreased spending on customer premise equipment

•	An increase in total NBCUniversal revenue of 4.4% to $33.0 billion; total NBCUniversal revenue increased 10.1% excluding $1.6 billion of revenue associated with our broadcast of the Rio Olympics in August 2016

•	An increase in total NBCUniversal Adjusted EBITDA of 14.1% to $8.2 billion

•	An increase in Cable Networks segment revenue of 1.6% and a decrease in Broadcast Television segment revenue of 5.9%, including the impact of our broadcast of the 2016 Rio Olympics; excluding revenue associated with the Olympics, Cable Networks and Broadcast Television segments revenue increased 6.0% and 6.6%, respectively, primarily due to increases in distribution revenue

•	An increase in Filmed Entertainment segment revenue of 20.4% primarily due to the success of The Fate of the Furious, Despicable Me 3 and Fifty Shades Darker

•	An increase in Theme Parks segment revenue of 10.0% reflecting the continued success of The Wizarding World of Harry Potter™ attraction in Hollywood, which opened in April 2016, and the openings of Minion Park™ in Japan in April 2017 and Volcano Bay™ in Orlando in May 2017

•	The acquisition of the remaining interests in Universal Studios Japan that we did not already own for $2.3 billion

•	The launch of our wireless phone service in the second quarter of 2017 to our residential cable customers

•	The acquisition of rights to $1.7 billion of spectrum, as well as the receipt of proceeds of $482 million related to NBCUniversal’s relinquishment of spectrum rights

•	Cash capital contributions to Atairos totaling $994 million, which brought our investment in Atairos to $2.4 billion as of December 31, 2017

•	The enactment of new federal tax reform legislation in December 2017 which, among other things, reduced the federal corporate tax rate to 21% from 35%, effective January 1, 2018, resulting in a $12.7 billion net income tax benefit recorded in the fourth quarter of 2017 primarily due to a reduction of our net deferred tax liability

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(a)	Adjusted EBITDA is a non-GAAP performance measure. Refer to the “Non-GAAP Financial Measure” section on page 50 for additional information, including our definition and our use of Adjusted EBITDA, and for a reconciliation from net income attributable to Comcast Corporation to Adjusted EBITDA.

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•	Growth in our Cable Communications segment driven by revenue from residential high-speed Internet and video services and business services

•	Growth in our NBCUniversal segments driven by Filmed Entertainment and Theme Parks, partially offset by revenue in 2016 associated with our broadcast of the 2016 Rio Olympics

•	Growth in our Cable Communications segment driven by revenue from residential high-speed Internet and video services and business services

•	Our broadcast of the 2016 Rio Olympics, which was reported in our NBCUniversal segments

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•	An increase in programming expenses in our Cable Communications segment

•	An increase in programming and production expenses in our Filmed Entertainment segment, partially offset by expenses in 2016 associated with our broadcast of the 2016 Rio Olympics

•	An increase in Corporate and Other activities driven by the launch of our wireless phone service

•	An increase in programming expenses in our Cable Communications segment

•	Our broadcast of the 2016 Rio Olympics, which was reported in our NBCUniversal segments

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(a)

Pro forma adjustments are presented as if the acquisition of the 51% interest of Universal Studios Japan occurred on January 1, 2014. Pro forma information does not include adjustments for transaction-related costs, costs related to integration activities, or cost savings or synergies that have been or may be achieved by the combined businesses. The pro forma amounts are primarily based on historical results of operations, adjusted for the allocation of purchase price, and are not necessarily indicative of what our results would have been had we operated Universal Studios Japan since January 1, 2014, nor of our future results.

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(a)

Pro forma adjustments are presented as if the acquisition of the 51% interest of Universal Studios Japan occurred on January 1, 2014. Pro forma information does not include adjustments for transaction-related costs, costs related to integration activities, or cost savings or synergies that have been or may be achieved by the combined businesses. The pro forma amounts are primarily based on historical results of operations, adjusted for the allocation of purchase price, and are not necessarily indicative of what our results would have been had we operated Universal Studios Japan since January 1, 2014, nor of our future results.

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(a)	Excludes interest payments.

(b)

Purchase obligations consist of agreements to purchase goods and services that are legally binding on us and specify all significant terms, including fixed or minimum quantities to be purchased and price provisions. Our purchase obligations related to our Cable Communications segment and other business development initiatives include programming contracts with cable networks and local broadcast television stations; contracts with customer premise equipment manufacturers; contracts with communications vendors and multichannel video providers for which we provide advertising sales representation; contracts to acquire handsets and other equipment; and other contracts entered into in the normal course of business. Cable Communications programming contracts include amounts payable under fixed or minimum guaranteed commitments and do not represent the total fees that are expected to be paid under programming contracts, which we expect to be significantly higher because these contracts are generally based on the number of subscribers receiving the programming. Our purchase obligations related to our NBCUniversal segments consist primarily of commitments to acquire film and television programming, including the U.S. broadcast rights to future Olympic Games through 2032, Sunday Night Football through the 2022-23 season, including two Super Bowl games, the first of which is in 2018, NHL games through the 2020-21 season, Spanish-language U.S. broadcast rights to FIFA World Cup games through 2022, U.S broadcast rights to English Premier League soccer games through the 2021-22 season, certain NASCAR events through 2024, and certain PGA TOUR and other golf events through 2030, as well as obligations under various creative talent agreements, including obligations to actors, producers and television personalities, and various other television commitments. Purchase obligations do not include contracts with immaterial future commitments.

(c)

Other long-term liabilities reflected on the balance sheet consist primarily of subsidiary preferred shares; deferred compensation obligations; and postretirement, pension and postemployment benefit obligations. A contractual obligation with a carrying value of $1.1 billion is not included in the table above because it is uncertain if the arrangement will be settled. The contractual obligation involves an interest held by a third party in the revenue of certain theme parks. The arrangement provides the counterparty with the right to periodic payments associated with current period revenue and, beginning in June 2017, the option to require NBCUniversal to purchase the interest for cash in an amount based on a contractual formula. The contractual formula is based on an average of specified historical theme park revenue at the time of exercise, which amount could be significantly higher than the carrying value. As of December 31, 2017, the value of the contractual obligation was $1.5 billion, based on inputs to the contractual formula as of that date. See Note 16 to Comcast’s consolidated financial statements for additional information related to this arrangement. Liabilities for uncertain tax positions of $809 million and the associated interest and penalties are not included in the table above because it is uncertain if or when these amounts will become payable. Payments of $2.7 billion of participations and residuals are also not included in the table above because we cannot make a reliable estimate of the period in which these obligations will be settled.

(d)	Our contractual obligations do not include our commitment to invest up to $4 billion at any one time as an investor in Atairos due to our inability to estimate the timing of this funding. As of December 31, 2017, our remaining commitment is $2.0 billion based on the capital calls received as of that date (see Note 7

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(e)	Total contractual obligations are made up of the following components.

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•	Pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect our transactions and dispositions of our assets.

•	Provide reasonable assurance that our transactions are recorded as necessary to permit preparation of our financial statements in accordance with accounting principles generally accepted in the United States, and that our receipts and expenditures are being made only in accordance with authorizations of our management and our directors.

•	Provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our assets that could have a material effect on the financial statements.

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•	valuation and impairment testing of cable franchise rights (see Note 9)

•	film and television costs (see Note 6)

•	capitalization and amortization of film and television costs (see Note 6)

•	installation revenue and costs for connecting customers to our cable systems (see revenue recognition below and Note 8)

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•	Level 1: Values are determined using quoted market prices for identical financial instruments in an active market

•	Level 2: Values are determined using quoted prices for similar financial instruments and valuation models whose inputs are observable

•	Level 3: Values are determined using pricing models that use significant inputs that are primarily unobservable, discounted cash flow methodologies or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation

•	Revenue from our residential video services in our Cable Communications segment will decrease with corresponding increases to high-speed Internet and voice revenue due to a change in the allocation of revenue among our cable services included in a bundle that our residential customers purchase at a discount.

•	Revenue from franchise and other regulatory fees, which was previously presented in other revenue, will be presented with the corresponding cable services in our Cable Communications segment. This will result in increases to video, voice and business services revenue.

•	Customer late fees in our Cable Communications segment will now be presented in other and in business services revenue. These fees were previously presented as a reduction to other operating and administrative expenses.

•

Certain costs, including costs related to the fulfillment of contracts with customers, in our Cable Communications segment will be presented as other assets and the related costs will be recognized over time in operating costs and expenses, which are comprised of total costs and expenses, excluding depreciation and amortization expense and other operating gains. These amounts were previously presented as intangible assets, and the expenses were previously presented in amortization expense. The payments related to these assets will be presented in net cash provided by operating activities rather than in cash paid for intangible assets in our consolidated statement of cash flows.

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•	Installation revenue and commission expenses in our Cable Communications segment will be recognized as revenue and costs, respectively, over a period of time. These amounts were previously recognized immediately.

•	Content licensing revenue associated with renewals or extensions of existing program licensing agreements in our Cable Networks, Broadcast Television and Filmed Entertainment segments will be recognized as revenue when the licensed content becomes available under the renewal or extension. These renewals or extensions were previously recognized as revenue when the agreement was executed.

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(a)	Acquisitions in 2016 in our Filmed Entertainment segment primarily included the DreamWorks Animation acquisition (see Note 5 for additional information).

(b)	Adjustments in 2016 primarily included the updated allocation of the purchase price for Universal Studios Japan in our Theme Parks segment and the reclassification of certain operations and businesses from Corporate and Other to our Cable Communications segment.

(c)	Adjustments in 2017 primarily included the updated allocation of the purchase price for DreamWorks Animation (see Note 5 for additional information).

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(a)	In 2017, we acquired the rights to spectrum in the FCC Spectrum auction (see Note 5 for additional information).

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(a)

The December 31, 2017 and 2016 amounts primarily consist of ¥435 billion and ¥382 billion, respectively, of Universal Studios Japan term loans translated using the exchange rates as of these dates. In May 2017, Universal Studios Japan entered into ¥450 billion of new term loans with a final maturity of March 2022. We used the proceeds from these borrowings to repay in full Universal Studios Japan’s existing yen-denominated term loans and a portion of amounts outstanding under our commercial paper program.

(b)	The December 31, 2017 and 2016 amounts include £625 million of 5.50% notes due 2029, which translated to $845 million and $771 million, respectively, using the exchange rates as of these dates.

(c)	The December 31, 2017 amount includes the difference between the principal amount of the new senior notes and the carrying amount of the exchanged senior notes at the time of the senior notes exchange. See below under the heading “Senior Notes Exchange” for additional information on this transaction.

(d)	Includes the effects of our derivative financial instruments.

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•	we acquired $1.2 billion of property and equipment and intangible assets that were accrued but unpaid

•	we recorded a liability of $732 million for a quarterly cash dividend of $0.1575 per common share paid in January 2018

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•	we completed a senior notes exchange in the fourth quarter of 2017 (see Note 10 for additional information)

•	we acquired $1.3 billion of property and equipment and intangible assets that were accrued but unpaid

•	we recorded a liability of $653 million for a quarterly cash dividend of $0.1375 per common share paid in January 2017

•	we recorded a liability of $447 million for capital contributions to Atairos that were accrued in December and paid in January 2017 (see Note 7 for additional information)

•	we acquired $1.1 billion of property and equipment and intangible assets that were accrued but unpaid

•	we recorded a liability of $612 million for a quarterly cash dividend of $0.125 per common share paid in January 2016

•	we assumed liabilities related to the Universal Studios Japan transaction (see Note 5 for additional information)

•	we used $517 million of equity securities to settle a portion of our obligations under prepaid forward sale agreements

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(a)	For the years ended December 31, 2017, 2016 and 2015, Cable Communications segment revenue was derived from the following sources:

(b)	NBCUniversal Headquarters and Other activities include costs associated with overhead, allocations, personnel costs and headquarter initiatives.

(c)	Included in Eliminations are transactions that our segments enter into with one another. The most common types of transactions are the following:

•	our Cable Networks segment generates revenue by selling programming to our Cable Communications segment, which represents a substantial majority of the revenue elimination amount

•	our Broadcast Television segment generates revenue from the fees received under retransmission consent agreements with our Cable Communications segment

•	our Cable Communications segment generates revenue by selling advertising and by selling the use of satellite feeds to our Cable Networks segment

•	our Filmed Entertainment and Broadcast Television segments generate revenue by licensing content to our Cable Networks segment; for segment reporting, this revenue is recognized as the programming rights asset for the licensed content is amortized based on third party revenue

(d)	Corporate and Other activities include costs associated with overhead and personnel, revenue and expenses associated with other business development initiatives, including our new wireless phone service, and the operations of Comcast Spectacor, which owns the Philadelphia Flyers and the Wells Fargo Center arena in Philadelphia, Pennsylvania and operates arena management-related businesses.

(e)	The revenue and operating costs and expenses associated with our broadcast of the 2016 Rio Olympics were reported in our Cable Networks and Broadcast Television segments. The revenue and operating costs and expenses associated with our broadcast of the 2015 Super Bowl were reported in our Broadcast Television segment.

(f)	Revenue from customers located outside of the United States, primarily in Europe and Asia, in 2017, 2016 and 2015 was $7.8 billion, $6.5 billion and $5.8 billion, respectively. No single customer accounted for a significant amount of revenue in any of the periods presented.

(g)

We use Adjusted EBITDA as the measure of profit or loss for our operating segments. Adjusted EBITDA is defined as net income attributable to Comcast Corporation before net (income) loss attributable to noncontrolling interests and redeemable subsidiary preferred stock, income tax benefit (expense), total other income (expense), depreciation and amortization expense, and other operating gains, and excluding impairment charges related to fixed and intangible assets and gains or losses on the sale of long-lived assets, if any. From time to time we may exclude from Adjusted EBITDA the impact of events, gains, losses or other charges (such as significant legal settlements) that affect the period-to-period comparability of our operating performance. This measure eliminates the significant level of noncash depreciation and amortization expense that results from the capital-intensive nature of certain of our businesses and from intangible assets recognized in business combinations. Additionally, it is unaffected by our capital and tax structures and by our investment activities. We use this measure to evaluate the operating performance of our operating segments and to allocate resources and capital to our operating segments. It is also a significant performance measure in our annual incentive compensation programs. We believe that this measure is useful to investors because it is one of the bases for comparing our operating performance with that of other companies in our industries, although our measure may not be directly comparable to similar measures used by other companies. This measure should not be considered a substitute for operating income (loss), net income (loss), net income (loss) attributable to Comcast Corporation, net cash provided by operating activities, or other measures we have reported in accordance with GAAP. Our reconciliation of the aggregate amount of Adjusted EBITDA for our reportable segments to consolidated income before income taxes is presented in the table below.

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(a)	In the fourth quarter of 2017, net income attributable to Comcast Corporation included a $12.7 billion net income tax benefit as a result of the impacts of the 2017 tax reform legislation. See Note 14 for additional information.

(b)	In the fourth quarter of 2016, net income attributable to Comcast Corporation included $225 million, $143 million net of tax, recognized in connection with the settlement of amounts owed to us under an agency agreement that had provided for, among other things, Verizon Wireless’ sale of our cable services.

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•	pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect our transactions and dispositions of our assets

•	provide reasonable assurance that our transactions are recorded as necessary to permit preparation of our financial statements in accordance with accounting principles generally accepted in the United States, and that our receipts and expenditures are being made only in accordance with authorizations of our management and our directors

•	provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of our assets that could have a material effect on the financial statements

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•	revenue recognition (see below)

•	film and television costs (see Note 6)

•	goodwill and intangible assets (see Note 9)

•	capitalization and amortization of film and television costs (see Note 6)

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•	Level 1: Values are determined using quoted market prices for identical financial instruments in an active market

•	Level 2: Values are determined using quoted prices for similar financial instruments and valuation models whose inputs are observable

•	Level 3: Values are determined using pricing models that use significant inputs that are primarily unobservable, discounted cash flow methodologies or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation

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(a)	The tax receivable agreement was settled immediately following the acquisition and the payment was recorded as an operating activity in our consolidated statement of cash flows in 2016. Comcast made a separate cash capital contribution of $146 million to fund the settlement, which was recorded as a financing activity in our consolidated statement of cash flows.

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(b)	Other included $279 million recorded to member’s capital that represented deferred income tax assets and other tax-related items recorded by Comcast but excluded from the net assets contributed to us.

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(a)	Acquisitions in 2016 in our Filmed Entertainment segment primarily included the DreamWorks Animation acquisition (see Note 4 for additional information).

(b)	Adjustments in 2016 included the updated allocation of the purchase price for Universal Studios Japan in our Theme Parks segment.

(c)	Adjustments in 2017 primarily included the updated allocation of the purchase price for DreamWorks Animation (see Note 4 for additional information).

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(a)

The December 31, 2017 and 2016 amounts consist of ¥435 billion and ¥382 billion, respectively, of Universal Studios Japan term loans translated using the exchange rates as of these dates. In May 2017, Universal Studios Japan entered into ¥450 billion of new term loans with a final maturity of March 2022. We used the proceeds from these borrowings to repay in full Universal Studios Japan’s existing yen-denominated term loans and a portion of amounts outstanding under our revolving credit agreement with Comcast.

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•	we acquired $325 million of property and equipment and intangible assets that were accrued but unpaid

•	Comcast contributed its investment in Snap to us at its fair value, which was a noncash transaction (see Note 7 for additional information)

•	we and Comcast completed a senior notes exchange in the fourth quarter of 2017 (see Note 10 for additional information)

•	we acquired $189 million of property and equipment and intangible assets that were accrued but unpaid

•	Comcast contributed the net assets of DreamWorks Animation to us, which was primarily a noncash transaction (see Note 4 for additional information)

•	we acquired $287 million of property and equipment and intangible assets that were accrued but unpaid

•	Comcast contributed the net assets of $252 million related to an acquired business, which was a noncash transaction

•	we assumed liabilities related to the Universal Studios Japan transaction

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(a)	Headquarters and Other activities include costs associated with overhead, allocations, personnel costs and headquarter initiatives.

(b)	Eliminations are transactions that our segments enter into with one another, which consisted primarily of the licensing of film and television content from our Filmed Entertainment and Broadcast Television segments to our Cable Networks segment; for segment reporting, revenue is recognized as the programming rights asset for the licensed content is amortized based on third party revenue.

(c)	The revenue and operating costs and expenses associated with our broadcast of the 2016 Rio Olympics were reported in our Cable Networks and Broadcast Television segments. The revenue and operating costs and expenses associated with our broadcast of the 2015 Super Bowl were reported in our Broadcast Television segment.

(d)	We operate primarily in the United States, but also in select international markets primarily in Europe and Asia. The table below summarizes revenue by geographic location. No single customer accounted for a significant amount of revenue in any of the periods presented.

(e)

We use Adjusted EBITDA as the measure of profit or loss for our operating segments. Adjusted EBITDA is defined as net income attributable to NBCUniversal before net (income) loss attributable to noncontrolling interests, income tax expense, total other income (expense), depreciation and amortization expense, and other operating gains, and excluding impairment charges related to fixed and intangible assets and gains or losses on the sale of long-lived assets, if any. From time to time we may exclude from Adjusted EBITDA the impact of events, gains, losses or other charges (such as significant legal settlements) that affect the period-to-period comparability of our operating performance. This measure eliminates the significant level of noncash amortization expense that results from intangible assets recognized in business combinations. Additionally, it is unaffected by our capital and tax structures and by our investment activities. We use this measure to evaluate the operating performance of our operating segments and to allocate resources and capital to our operating segments. It is also a significant performance measure in our annual incentive compensation programs. We believe that this measure is useful to investors because it is one of the bases for comparing our operating performance with that of other companies in our industries, although our measure may not be directly comparable to similar measures used by other companies. This measure should not be considered a substitute for operating income (loss), net income (loss), net income (loss) attributable to NBCUniversal, net cash provided by operating activities, or other measures we have reported in accordance with GAAP. Our reconciliation of the aggregate amount of Adjusted EBITDA for our reportable segments to consolidated income before income taxes is presented in the table below.

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(a)	Additions and deductions related to allowance for returns and customer incentives include amounts for distribution on behalf of third parties.