Stock Analysis on Net
Stock Analysis on Net
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Comcast Corp. (NASDAQ:CMCSA)

Adjustments to Financial Statements

Advanced level

Adjustments to Current Assets

Comcast Corp., adjusted current assets

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Current assets 26,741  25,392  21,848  16,060  16,361 
Adjustments
Add: Allowance for doubtful accounts 807  419  352  288  250 
After Adjustment
Adjusted current assets 27,548  25,811  22,200  16,348  16,611 

Based on: 10-K (filing date: 2021-02-04), 10-K (filing date: 2020-01-30), 10-K (filing date: 2019-01-31), 10-K (filing date: 2018-01-31), 10-K (filing date: 2017-02-03).


Adjustments to Total Assets

Comcast Corp., adjusted total assets

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Total assets 273,869  263,414  251,684  186,949  180,500 
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 —  —  4,384  3,335  3,189 
Add: Allowance for doubtful accounts 807  419  352  288  250 
Less: Deferred tax assets2 219  87  1,220  54  41 
After Adjustment
Adjusted total assets 274,457  263,746  255,200  190,518  183,898 

Based on: 10-K (filing date: 2021-02-04), 10-K (filing date: 2020-01-30), 10-K (filing date: 2019-01-31), 10-K (filing date: 2018-01-31), 10-K (filing date: 2017-02-03).

1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

2 Deferred tax assets. See details »


Adjustments to Current Liabilities

Comcast Corp., adjusted current liabilities

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Current liabilities 28,796  30,292  27,603  21,561  21,535 
Adjustments
Less: Current deferred revenue 2,963  2,768  2,182  1,552  1,132 
After Adjustment
Adjusted current liabilities 25,833  27,524  25,421  20,009  20,403 

Based on: 10-K (filing date: 2021-02-04), 10-K (filing date: 2020-01-30), 10-K (filing date: 2019-01-31), 10-K (filing date: 2018-01-31), 10-K (filing date: 2017-02-03).


Adjustments to Total Liabilities

Comcast Corp., adjusted total liabilities

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Total liabilities 180,851  178,168  177,866  116,143  122,880 
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1 —  —  4,384  3,335  3,189 
Less: Deferred tax liabilities2 28,051  28,180  27,589  24,256  34,854 
Less: Deferred revenue 3,713  3,386  2,832  1,552  1,132 
After Adjustment
Adjusted total liabilities 149,087  146,602  151,829  93,670  90,083 

Based on: 10-K (filing date: 2021-02-04), 10-K (filing date: 2020-01-30), 10-K (filing date: 2019-01-31), 10-K (filing date: 2018-01-31), 10-K (filing date: 2017-02-03).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Deferred tax liabilities. See details »


Adjustments to Stockholders’ Equity

Comcast Corp., adjusted total Comcast Corporation shareholders’ equity

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Total Comcast Corporation shareholders’ equity 90,323  82,726  71,613  68,606  53,943 
Adjustments
Less: Net deferred tax asset (liability)1 (27,832) (28,093) (26,369) (24,202) (34,813)
Add: Allowance for doubtful accounts 807  419  352  288  250 
Add: Deferred revenue 3,713  3,386  2,832  1,552  1,132 
Add: Redeemable noncontrolling interests and redeemable subsidiary preferred stock 1,280  1,372  1,316  1,357  1,446 
Add: Noncontrolling interests 1,415  1,148  889  843  2,231 
After Adjustment
Adjusted total equity 125,370  117,144  103,371  96,848  93,815 

Based on: 10-K (filing date: 2021-02-04), 10-K (filing date: 2020-01-30), 10-K (filing date: 2019-01-31), 10-K (filing date: 2018-01-31), 10-K (filing date: 2017-02-03).

1 Net deferred tax asset (liability). See details »


Adjustments to Capitalization Table

Comcast Corp., adjusted capitalization table

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Current portion of long-term debt 3,146  4,452  4,398  5,134  5,480 
Long-term debt, less current portion 100,614  97,765  107,345  59,422  55,566 
Total reported debt 103,760  102,217  111,743  64,556  61,046 
Total Comcast Corporation shareholders’ equity 90,323  82,726  71,613  68,606  53,943 
Total reported capital 194,083  184,943  183,356  133,162  114,989 
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1 —  —  4,384  3,335  3,189 
Add: Current operating lease liability (included in Accrued expenses and other current liabilities)2 718  715  —  —  — 
Add: Noncurrent operating lease liability (included in Other noncurrent liabilities)3 3,740  3,891  —  —  — 
Adjusted total debt 108,218  106,823  116,127  67,891  64,235 
Adjustments to Equity
Less: Net deferred tax asset (liability)4 (27,832) (28,093) (26,369) (24,202) (34,813)
Add: Allowance for doubtful accounts 807  419  352  288  250 
Add: Deferred revenue 3,713  3,386  2,832  1,552  1,132 
Add: Redeemable noncontrolling interests and redeemable subsidiary preferred stock 1,280  1,372  1,316  1,357  1,446 
Add: Noncontrolling interests 1,415  1,148  889  843  2,231 
Adjusted total equity 125,370  117,144  103,371  96,848  93,815 
After Adjustment
Adjusted total capital 233,588  223,967  219,498  164,739  158,050 

Based on: 10-K (filing date: 2021-02-04), 10-K (filing date: 2020-01-30), 10-K (filing date: 2019-01-31), 10-K (filing date: 2018-01-31), 10-K (filing date: 2017-02-03).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Current operating lease liability (included in Accrued expenses and other current liabilities). See details »

3 Noncurrent operating lease liability (included in Other noncurrent liabilities). See details »

4 Net deferred tax asset (liability). See details »


Adjustments to Revenues

Comcast Corp., adjusted revenue

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Revenue 103,564  108,942  94,507  84,526  80,403 
Adjustment
Add: Increase (decrease) in deferred revenue 327  554  648  420  (170)
After Adjustment
Adjusted revenue 103,891  109,496  95,155  84,946  80,233 

Based on: 10-K (filing date: 2021-02-04), 10-K (filing date: 2020-01-30), 10-K (filing date: 2019-01-31), 10-K (filing date: 2018-01-31), 10-K (filing date: 2017-02-03).


Adjustments to Reported Income

Comcast Corp., adjusted net income attributable to Comcast Corporation

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016
As Reported
Net income attributable to Comcast Corporation 10,534  13,057  11,731  22,714  8,695 
Adjustments
Add: Deferred income tax expense (benefit)1 (550) 563  290  (10,655) 1,444 
Add: Increase (decrease) in allowance for doubtful accounts 388  67  64  38  24 
Add: Increase (decrease) in deferred revenue 327  554  648  420  (170)
Add: Other comprehensive income (loss) 897  1,402  (864) 168  346 
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest 227  253  90  267  424 
After Adjustment
Adjusted net income 11,823  15,896  11,959  12,952  10,763 

Based on: 10-K (filing date: 2021-02-04), 10-K (filing date: 2020-01-30), 10-K (filing date: 2019-01-31), 10-K (filing date: 2018-01-31), 10-K (filing date: 2017-02-03).

1 Deferred income tax expense (benefit). See details »