Summary
Comcast Corporation (CMCSA) filed an 8-K on January 28, 2014, primarily to report its financial and operational results for the fourth quarter and full year ended December 31, 2013. The filing itself does not contain the detailed financial statements but rather references a press release (Exhibit 99.1) that provides these results. Investors should note that the press release includes non-GAAP financial measures, and Comcast has provided an explanation (Exhibit 99.2) for their use and reconciliation to GAAP figures, emphasizing their belief that these measures offer valuable insights into the company's performance.
Key Highlights
- 1Comcast reported its Q4 and full-year 2013 financial results on January 28, 2014.
- 2The 8-K filing primarily serves to incorporate by reference a press release containing the detailed results.
- 3Exhibit 99.1 is the press release detailing the financial and operational outcomes for the periods ending December 31, 2013.
- 4Exhibit 99.2 provides an explanation of the non-GAAP financial measures used in the press release.
- 5Comcast asserts that its non-GAAP measures offer useful information to investors regarding financial condition and operations.
- 6A reconciliation between non-GAAP and GAAP financial measures is included within the press release.
- 7The filing explicitly states that these documents are not considered 'filed' for purposes of the Securities Exchange Act.
Frequently Asked Questions
The main purpose of this 8-K filing by Comcast is to publicly report its financial and operational results for the fourth quarter and the full year ended December 31, 2013. It incorporates a press release that contains these details.
The detailed financial results are provided in the press release filed as Exhibit 99.1 with this 8-K. Investors should refer to this exhibit for the specific figures.
Yes, Comcast uses non-GAAP financial measures in its earnings reporting. They believe these measures provide useful information to investors for understanding the company's financial condition and results of operations, beyond what is presented under standard GAAP. An explanation and reconciliation are provided in Exhibit 99.2 and the press release.
No, Comcast explicitly states in the filing that the press release and the explanation of non-GAAP measures are not intended to be treated as 'filed' under the Securities Exchange Act of 1934. This means they are furnished for informational purposes rather than subject to the same regulatory liabilities as officially filed information.