Comcast 2005 Annual Report

Year Ended December 31 (Dollars in millions, except per share data)		2005			2004			2003			2002	⁽¹⁾		2001
Statement of Operations Data:
Revenues	$	22,255		$	20,307		$	18,348		$	8,102		$	5,937
Operating income (loss)		3,690			2,908			1,954			921			(1,325	)
Income (loss) from continuing operations before cumulative effect of
accounting change		928			970			(218	)		(469	)		4
Discontinued operations⁽²⁾		–			—			3,458			195			220
Cumulative effect of accounting change⁽³⁾		–			—			—			—			385
Net income (loss)		928			970			3,240			(274	)		609
Basic earnings (loss) for common stockholders per common share
Income (loss) from continuing operations before cumulative effect of
accounting change	$	0.42		$	0.43		$	(0.10	)	$	(0.42	)	$	0.00
Discontinued operations⁽²⁾		–			—			1.54			0.17			0.24
Cumulative effect of accounting change⁽³⁾		–			—			—			—			0.40
Net income (loss)	$	0.42		$	0.43		$	1.44		$	(0.25	)	$	0.64
Diluted earnings (loss) for common stockholders per common share
Income (loss) from continuing operations before cumulative effect of
accounting change	$	0.42		$	0.43		$	(0.10	)	$	(0.42	)	$	0.00
Discontinued operations⁽²⁾		–			—			1.54			0.17			0.23
Cumulative effect of accounting change⁽³⁾		–			—			—			—			0.40
Net income (loss)	$	0.42		$	0.43		$	1.44		$	(0.25	)	$	0.63
Balance Sheet Data (at year end):
Total assets	$	103,146		$	104,694		$	109,159		$	113,128		$	38,261
Long term debt		21,682			20,093			23,835			27,956			11,679
Stockholders’ equity		40,219			41,422			41,662			38,329			14,473
Statement of Cash Flows Data
Net cash provided by (used in):
Operating activities from continuing operations	$	4,922		$	5,930		$	2,854		$	2,421		$	1,169
Financing activities from continuing operations		(933	)		(2,516	)		(7,048	)		(1,005	)		1,651
Investing activities from continuing operations		(3,748	)		(4,512	)		5,239			(1,125	)		(3,150	)
(1) On November 18, 2002, we completed the acquisition of AT&T’s broadband business, which has substantially increased the size of our cable operations.
(2) In September 2003, we sold our interest in QVC to Liberty Media Corporation. QVC is presented as a discontinued operation for the years ended on and before December 31, 2003 (see Note 5 to our consolidated financial statements).
(3) In 2001, we recognized as income a cumulative effect of accounting change upon adoption of SFAS No. 133, “Accounting for Derivative Instruments and Hedging Activities,” (“SFAS No. 133”).


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