SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 11-K
ANNUAL REPORT
Pursuant to Section 15(d) of the
Securities Exchange Act of 1934
COMCAST CORPORATION
(Mark One):
x | ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. |
For the fiscal year ended December 31, 2005.
OR
¨ | TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. |
For the transition period from to
Commission file number 000-50093
A. Full title of the plan and the address of the plan, if different from that of the issuer named below:
COMCAST CORPORATION RETIREMENT-INVESTMENT PLAN
B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:
Comcast Corporation
1500 Market Street
Philadelphia, PA 19102-2148
COMCAST CORPORATION RETIREMENT- INVESTMENT PLAN
Financial Statements as of
December 31, 2005 and 2004 and for
the Year Ended December 31, 2005;
Supplemental Schedule as of December 31, 2005;
and Report of Independent Registered Public
Accounting Firm
COMCAST CORPORATION RETIREMENT-INVESTMENT PLAN
Page | ||
1 | ||
FINANCIAL STATEMENTS: |
||
Statements of Net Assets Available for Benefits as of December 31, 2005 and 2004 |
2 | |
Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 2005 |
3 | |
4-9 | ||
SUPPLEMENTAL SCHEDULE: |
||
Schedule H - Line 4i - Schedule of Assets (Held at End of Year) as of December 31, 2005 |
10-11 | |
12 | ||
13 |
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Plan Administrator
Comcast Corporation Retirement-Investment Plan
Philadelphia, Pennsylvania
We have audited the accompanying statements of net assets available for benefits of the Comcast Corporation Retirement-Investment Plan (the Plan) as of December 31, 2005 and 2004, and the related statement of changes in net assets available for benefits for the year ended December 31, 2005. These financial statements are the responsibility of the Plans management. Our responsibility is to express an opinion on these financial statements based on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits as of December 31, 2005 and 2004, and the changes in net assets available for benefits for the year ended December 31, 2005 in conformity with accounting principles generally accepted in the United States of America.
Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedule of assets (held at end of year) as of December 31, 2005 (Schedule H - Line 4i) is presented for the purpose of additional analysis and is not a required part of the basic financial statements, but is supplementary information required by the Department of Labors Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental schedule is the responsibility of the Plans management. The supplemental schedule has been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, is fairly stated in all material respects, in relation to the basic financial statements taken as a whole.
/s/ MITCHELL & TITUS, LLP
Philadelphia, Pennsylvania
June 27, 2006
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COMCAST CORPORATION RETIREMENT-INVESTMENT PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
DECEMBER 31, 2005 AND 2004
(Thousands of Dollars)
December 31, | ||||||
2005 | 2004 | |||||
ASSETS: |
||||||
Cash |
$ | 216 | $ | 1,642 | ||
Contributions receivable |
| 8,716 | ||||
Investments, at fair or contract value |
1,765,775 | 1,628,745 | ||||
Loans receivable from participants |
57,164 | 47,952 | ||||
NET ASSETS AVAILABLE FOR BENEFITS |
$ | 1,823,155 | $ | 1,687,055 | ||
See notes to financial statements.
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COMCAST CORPORATION RETIREMENT-INVESTMENT PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
YEAR ENDED DECEMBER 31, 2005
(Thousands of Dollars)
Year Ended December 31, 2005 |
||||
ADDITIONS TO NET ASSETS ATTRIBUTED TO: |
||||
Investments: |
||||
Net realized and unrealized depreciation in fair value of investments |
$ | (22,407 | ) | |
Interest and dividends |
54,440 | |||
32,033 | ||||
Contributions: |
||||
Employee |
150,809 | |||
Employer |
108,539 | |||
259,348 | ||||
291,381 | ||||
DEDUCTIONS FROM NET ASSETS ATTRIBUTED TO: |
||||
Benefits paid to participants or beneficiaries |
(155,281 | ) | ||
(155,281 | ) | |||
Net increase |
136,100 | |||
NET ASSETS AVAILABLE FOR BENEFITS: |
||||
Beginning of year |
1,687,055 | |||
End of year |
$ | 1,823,155 | ||
See notes to financial statements.
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COMCAST CORPORATION RETIREMENT-INVESTMENT PLAN
YEARS ENDED DECEMBER 31, 2005 and 2004
1. | PLAN DESCRIPTION |
General
The following description of the Comcast Corporation Retirement-Investment Plan (the Plan) provides only general information. Plan participants should refer to the Plan document and applicable amendments for a more complete description of the Plans provisions. Copies of these documents are available from the Plan Administrator, Comcast Corporation (Comcast, the Company or the Plan Administrator). Generally, all costs associated with administering the Plan are paid by the Plan Administrator.
The Plan is a defined contribution plan qualified under Internal Revenue Code (the Code) Sections 401(a), 401(k) and 401(m). The original Plan has been amended and restated to reflect mergers of other plans with and into the Plan and to make certain other technical, compliance and design changes. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA).
Effective January 1, 2003, the Plan was amended such that full-time employees become eligible to participate in the Plan after completion of six months of service and part-time employees become eligible to participate in the Plan after one year and completion of 1,000 hours of service. Also, effective January 1, 2003, the Plan was amended to reduce the service requirement for full-time employees to become eligible for Company matching contributions from one year to six months except for certain collectively bargained employees.
Effective July 1, 2003, the Plan was amended to increase the maximum amount of eligible compensation that may be deferred from 17% to 50%, subject to certain limits imposed by the Code.
Effective January 1, 2003, the Plan was amended to increase the employer matching contribution rate so that the Company matches 100% of the participants contribution up to 6% of the participants eligible compensation for such payroll period except for certain collectively bargained employees.
Each participant has at all times a 100% nonforfeitable interest in the participants contributions and earnings attributable thereto. Company matching contributions for Plan years beginning after December 31, 2000 are fully and immediately vested. Company matching contributions for Plan years ended on or prior to December 31, 2000 vested according to years of service.
Each participant has the right, in accordance with the provisions of the Plan, to direct the investment by the Trustee of the Plan of all amounts allocated to the separate accounts of the participant under the Plan among any one or more of the investment fund options. The Trustee pays benefits and expenses upon the written direction of the Plan Administrator.
Amounts contributed by the Company which are forfeited by participants as a result of the participants separation from service prior to becoming 100% vested may be used to reduce the Companys required contributions. Pending application of the forfeitures, the Company may direct the Trustee to hold the forfeitures in cash or under investment in a suspense account. If the Plan should terminate with any forfeitures not applied against Company contributions, they will be allocated to then current participants in the proportion that each participants eligible compensation for that Plan year bears to the eligible compensation for all such participants for the Plan year. Forfeitures used for the years ended December 31, 2005 and 2004 amounted to $722,095 and $411,648, respectively.
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COMCAST CORPORATION RETIREMENT-INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
YEARS ENDED DECEMBER 31, 2005 and 2004 (Continued)
Any participant who has a separation from service for any reason except death, disability or attainment of age 65 shall be entitled to receive his/her vested account balance. Upon death, disability or attainment of age 65, a participants account becomes fully vested in all Company contributions regardless of the participants years of service. Generally, distribution will start no later than 60 days after the close of the Plan year in which the participants separation from service occurs, subject to certain deferral rights under the Plan. The distribution alternatives permitted are a lump sum payment, installments over a period of time, any combination of the foregoing or a rollover into another qualified plan.
Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of Plan termination, each affected participants account balance will become fully vested.
Effective on June 1, 2005, the Plan was amended to adopt the IRS Mandatory Cash Out Regulations. On December 13, 2005, the Plan was amended to provide that employee compensation shall not be deemed eligible Plan compensation when paid more than 75 days after an employees separation from service. This amendment became effective January 1, 2006.
Trustee
Fidelity Management Trust Company is the appointed Trustee of the Plan.
2. | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
The financial statements of the Plan are presented using the accrual basis of accounting. Contributions receivable at December 31, 2004 represent amounts due to the Plan relating to December 24, 2004 participant and employer matching contributions not remitted to the Plan until subsequent to year-end. Investments in mutual funds, the AT&T Stock Fund and the Comcast Corporation Stock Fund are carried at fair value. Fair value is determined by the last sale or closing price as of the last trading day of the Plan year for investments in securities traded on a securities exchange or the Nasdaq National Market. Investment contracts, which are included in the Comcast Stable Value Fund, are fully benefit-responsive and are carried at contract value. Contract value represents contributions made, plus interest at the contract rate and transfers, less distributions. Loans receivable from participants are valued at cost which approximates fair value. Net unrealized appreciation or depreciation in the financial statements reflects changes in fair value of investments held at year end, while net realized gains and losses associated with the disposition of investments are recorded as of the trade date and calculated based on fair value as of such date. Benefits are recorded when paid.
Investment securities are exposed to various risks, such as interest rate, market and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the amounts reported in the statement of net assets available for benefits.
The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.
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COMCAST CORPORATION RETIREMENT-INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
YEARS ENDED DECEMBER 31, 2005 and 2004 (Continued)
3. | INVESTMENTS |
The Plans investments are held by a trust fund and are presented in the following table (dollars in thousands, units/shares rounded to nearest whole unit or share).
December 31, 2005 | |||||||
Number of Units/Shares |
Amount | ||||||
Mutual Funds (at fair value) |
|||||||
Ariel Fund |
1,343,692 | units | $ | 67,279 | |||
Dodge and Cox Balanced Fund |
1,533,757 | units | 124,756 | * | |||
Fidelity Blue Chip Growth Fund |
4,086,204 | units | 176,361 | * | |||
Fidelity Diversified International Fund |
3,510,013 | units | 114,216 | * | |||
Fidelity Freedom 2010 Fund |
1,512,207 | units | 21,247 | ||||
Fidelity Freedom 2020 Fund |
3,769,738 | units | 55,453 | ||||
Fidelity Freedom 2030 Fund |
3,203,495 | units | 48,116 | ||||
Fidelity Freedom 2040 Fund |
1,940,863 | units | 17,138 | ||||
Fidelity Freedom Income Fund |
278,800 | units | 3,170 | ||||
Fidelity Growth Company |
47,402 | units | 3,016 | ||||
Fidelity Small Cap Stock Fund |
4,102,162 | units | 75,070 | ||||
Fidelity US Bond Index Fund |
2,114,083 | units | 23,043 | ||||
Pimco Total Return Institutional Fund |
3,720,318 | units | 39,063 | ||||
Spartan International Index Fund |
249,028 | units | 8,898 | ||||
Spartan US Equity Index Fund |
3,450,699 | units | 152,383 | * | |||
Templeton World Fund, Class A |
1,644,076 | units | 29,166 | ||||
Vanguard SM Cap Index Fund |
935,432 | units | 26,697 | ||||
Vanguard Total Stock Market Index Fund |
522,245 | units | 15,667 | ||||
Vanguard Windsor II Fund |
1,547,892 | units | 86,094 | * | |||
Wells Fargo Advantage Small Company Value Fund |
410,097 | units | 6,143 | ||||
1,092,976 | |||||||
Comcast Corporation Stock Fund (at fair value) |
|||||||
Class A Common Stock |
5,368,743 | shares | 139,158 | * | |||
Class A Special Common Stock |
2,178,717 | shares | 55,971 | ||||
195,129 | |||||||
Comcast Stable Value Fund (at contract value) |
|||||||
Fidelity Stable Value Fund |
7,577,642 | units | 7,578 | ||||
Other Investment Contracts |
470,092,649 | units | 470,092 | * | |||
477,670 | |||||||
$ | 1,765,775 | ||||||
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COMCAST CORPORATION RETIREMENT-INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
YEARS ENDED DECEMBER 31, 2005 and 2004 (Continued)
December 31, 2004 | |||||||
Number of Units/Shares |
Amount | ||||||
Mutual Funds (at fair value) |
|||||||
Ariel Fund |
1,075,778 | units | $ | 57,199 | |||
Dodge and Cox Balanced Fund |
1,166,954 | units | 92,598 | * | |||
Fidelity Blue Chip Growth Fund |
4,080,098 | units | 170,181 | * | |||
Fidelity Brokeragelink |
3,031,352 | units | 3,031 | ||||
Fidelity Diversified International Fund |
2,787,517 | units | 79,835 | * | |||
Fidelity Freedom 2010 Fund |
1,443,587 | units | 19,662 | ||||
Fidelity Freedom 2020 Fund |
3,428,061 | units | 47,856 | ||||
Fidelity Freedom 2030 Fund |
2,840,574 | units | 39,995 | ||||
Fidelity Freedom 2040 Fund |
1,416,316 | units | 11,713 | ||||
Fidelity Freedom Income Fund |
235,316 | units | 2,652 | ||||
Fidelity Small Cap Stock Fund |
3,625,073 | units | 65,831 | ||||
Fidelity US Bond Index Fund |
1,734,600 | units | 19,323 | ||||
Pimco Total Return Institutional Fund |
2,914,725 | units | 31,100 | ||||
Spartan International Index Fund |
141,615 | units | 4,535 | ||||
Spartan US Equity Index Fund |
3,357,883 | units | 143,919 | * | |||
Templeton World Fund, Class A |
1,072,250 | units | 19,032 | ||||
Vanguard SM Cap Index Fund |
834,378 | units | 22,386 | ||||
Vanguard Total Stock Market Index Fund |
407,846 | units | 11,734 | ||||
Vanguard Windsor II Fund |
1,265,769 | units | 69,048 | ||||
911,630 | |||||||
AT&T Stock Fund (at fair value) |
1,320,328 | shares | 25,165 | ||||
Comcast Corporation Stock Fund (at fair value) |
|||||||
Class A Common Stock |
5,208,900 | shares | 173,352 | * | |||
Class A Special Common Stock |
2,455,409 | shares | 80,636 | * | |||
253,988 | |||||||
Comcast Stable Value Fund (at contract value) |
|||||||
Fidelity Stable Value Fund |
6,678,942 | units | 6,679 | ||||
Other Investment Contracts |
431,283,490 | units | 431,283 | * | |||
437,962 | |||||||
$ | 1,628,745 | ||||||
* | Represents amounts greater than 5% of the Plans net assets. |
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COMCAST CORPORATION RETIREMENT-INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
YEARS ENDED DECEMBER 31, 2005 and 2004 (Continued)
During 2005, the Plans investments (including gains and losses on investments bought and sold, as well as held during the year) appreciated (depreciated) in value as follows (in thousands):
Mutual Funds |
$ | 32,451 | ||
Common Stock |
(54,858 | ) | ||
$ | (22,407 | ) | ||
The fair value of assets included in the Comcast Stable Value Fund was $468,843,000 and $438,147,000 as of December 31, 2005 and 2004, respectively. The average yield of investment contracts held as of December 31, 2005 and 2004 was 3.64% and 3.49%, respectively. The average yield on investment contracts for the year ended December 31, 2005 was 3.66%.
4. | PARTICIPANT LOANS AND HARDSHIP WITHDRAWALS |
A participant may borrow from his/her Plan account subject to the approval of the Plan Administrator in accordance with applicable regulations issued by the Internal Revenue Service (IRS) and the Department of Labor. In general, a participant may borrow a minimum of $500 up to a maximum of the lesser of $50,000 or 50% of the participants nonforfeitable accrued benefit on the valuation date (as defined by the Plan) last preceding the date on which the loan request is processed by the Plan Administrator. The maximum term of a loan made pursuant to the Plan is five years (loans with terms of greater than five years exist under the Plan as a result of rollovers from merged plans). Interest accrues at the prime rate plus 1% of the month the loan application is approved. Principal and interest are paid through payroll deductions or participant initiated payments. Interest rates ranged from 4.25% to 11.5% for the years ended December 31, 2005 and 2004, respectively. Maturities on active outstanding loans ranged from 2004 to 2024 for the years ended December 31, 2005 and 2004. Loan transactions are treated as a transfer from (to) the investment fund to (from) the participant loan fund.
Effective after a calendar quarter of non-repayment, a loan is considered to be in default. Defaulted loans are treated as distributions for tax purposes and become taxable income to the participant for the year in which the default occurs.
A participant may withdraw all or a portion of his/her benefits derived from salary reduction, rollovers or the vested portion of pre-January 1, 2001 employer contributions, and earnings thereon, on account of hardship, as defined by the Plan and applicable IRS regulations. Under these rules, the participant must exhaust the possibilities of all other distributions, loans, etc. available under the Plan and meet certain other requirements. Upon receiving a hardship withdrawal, the participants elective contributions are suspended for six calendar months.
5. | ADMINISTRATION OF THE PLAN |
The Company, as Plan Administrator, has the authority to control and manage the operation and administration of the Plan and may delegate all or a portion of the responsibilities of controlling and managing the operation and administration of the Plan to one or more persons.
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COMCAST CORPORATION RETIREMENT-INVESTMENT PLAN
NOTES TO FINANCIAL STATEMENTS
YEARS ENDED DECEMBER 31, 2005 and 2004 (Concluded)
6. | FEDERAL TAX CONSIDERATIONS |
a. | Income Tax Status of the Plan - The Plan received a determination letter dated December 19, 1995 in which the IRS stated that the Plan, as amended and restated effective January 1, 1993, is qualified and that the trust established under the Plan is tax-exempt. The Plan has been amended since receiving the determination letter (see Note 1). A request for an updated determination letter, which considers the 2002 amendments, was filed with the IRS on February 27, 2002. On March 14, 2003, the Plan received a favorable determination letter with respect to the Companys request indicating that the form of the Plan as amended and restated, effective January 1, 1997 satisfies the applicable requirements of the Code and the form of the related trust satisfies the applicable requirements for exemption from federal income tax under the Code. On September 10, 2003 a request for an updated determination letter, which considers the 2003 amendments, was filed with the IRS. On April 21, 2005, the Plan received a favorable determination letter with respect to the Companys request indicating that the form of the Plan as amended and restated, effective January 1, 2003 satisfies the applicable requirements for exemption from federal income tax under the Code. On December 27, 2005, the Company filed a request for an updated determination letter for the Plans July 1, 2003 amendment and restatements. To date, no response has been received on this filing. The Company believes that the Plan continues to comply in form and operation with the applicable requirements of the Code. Therefore, the Company believes that the Plan was qualified and the related trust was tax-exempt as of December 31, 2005 and 2004. Therefore, no provision for income taxes has been included in the Plans financial statements. |
b. | Impact on Plan Participants - Matching contributions and salary reduction contributions, as well as earnings on Plan assets, are generally not subject to federal income tax until distributed from a qualified plan that meets the requirements of Sections 401(a), 401(k) and 401(m) of the Code. |
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COMCAST CORPORATION RETIREMENT-INVESTMENT PLAN
SCHEDULE H - LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2005
FEIN #27-0000798
PLAN #001
Identity of Issue, Borrower, Lessor, or Similar Party |
Description of Investment, Rate of Interest, Collateral, Par, or | ||||
Current Value | |||||
($ in thousands) | |||||
Mutual Funds (at fair value) |
|||||
Ariel Fund |
1,343,692 units | $ | 67,279 | ||
Dodge and Cox Balanced Fund |
1,533,757 units | 124,756 | |||
Fidelity Blue Chip Growth Fund |
4,086,204 units | 176,361 | |||
Fidelity Diversified International Fund |
3,510,013 units | 114,216 | |||
Fidelity Freedom 2010 Fund |
1,512,207 units | 21,247 | |||
Fidelity Freedom 2020 Fund |
3,769,738 units | 55,453 | |||
Fidelity Freedom 2030 Fund |
3,203,495 units | 48,116 | |||
Fidelity Freedom 2040 Fund |
1,940,863 units | 17,138 | |||
Fidelity Freedom Income Fund |
278,800 units | 3,170 | |||
Fidelity Growth Company |
47,402 units | 3,016 | |||
Fidelity Small Cap Stock Fund |
4,102,162 units | 75,070 | |||
Fidelity US Bond Index Fund |
2,114,083 units | 23,043 | |||
Pimco Total Return Institutional Fund |
3,720,318 units | 39,063 | |||
Spartan International Index Fund |
249,028 units | 8,898 | |||
Spartan US Equity Index Fund |
3,450,699 units | 152,383 | |||
Templeton World Fund, Class A |
1,644,076 units | 29,166 | |||
Vanguard SM Cap Index Fund |
935,432 units | 26,697 | |||
Vanguard Total Stock Market Index Fund |
522,245 units | 15,667 | |||
Vanguard Windsor II Fund |
1,547,892 units | 86,094 | |||
Wells Fargo Advantage Small Company Value Fund |
410,097 units | 6,143 | |||
1,092,976 | |||||
Comcast Corporation Stock Fund (at fair value)* |
|||||
Class A Common Stock |
5,368,743 shares | 139,158 | |||
Class A Special Common Stock |
2,178,717 shares | 55,971 | |||
195,129 | |||||
Comcast Stable Value Fund (at contract value) |
|||||
Fidelity Stable Value Fund; 4.10% |
7,577,642 units | 7,578 | |||
Traditional Investment Contracts |
|||||
Travelers Life & Annuity; 03/01/07 Maturity; 4.22% |
3,808,907 units | 3,809 | |||
Canada Life Insurance; 06/01/07 Maturity; 4.84% |
3,592,204 units | 3,592 | |||
John Hancock Mutual Life Insurance; 03/01/06 Maturity; 5.64% |
818,772 units | 819 |
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COMCAST CORPORATION RETIREMENT-INVESTMENT PLAN
SCHEDULE H - LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
DECEMBER 31, 2005 (continued)
FEIN # 27-0000798
PLAN #001
Identity of Issue, Borrower, Lessor, or Similar Party |
Description of Investment, Including Maturity Date, Rate of Interest, Collateral, Par, or Maturity Value | ||||
Current Value | |||||
($ in thousands) | |||||
Prudential Insurance Company America; 08/01/07 Maturity; 4.48% |
3,461,757 units | 3,462 | |||
11,682 | |||||
Security-Backed Investment Contracts |
|||||
Bank of America; 3.81% |
114,604,319 units | 114,604 | |||
Morgan Guaranty; 3.81% |
114,604,366 units | 114,604 | |||
Rabobank Netherland; 3.81% |
114,598,381 units | 114,598 | |||
State Street Bank & Trust Company; 3.81% |
114,604,317 units | 114,604 | |||
458,410 | |||||
477,670 | |||||
Participant Loan Fund (at cost, which approximates fair value) (interest rates from 4.25% to 11.0%; maturities from 2005 to 2024) |
57,164 | ||||
$ | 1,822,939 | ||||
* | Represents a party-in-interest to the Plan. |
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CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
We consent to the incorporation by reference in the Registration Statement No. 333-101295 of Comcast Corporation on Form S-8 of our report dated June 27, 2006, relating to the statements of net assets available for benefits as of December 31, 2005 and 2004, the related statement of changes in net assets available for benefits for the year then ended December 31, 2005 and the related supplemental information of Schedule H - Line 4i - schedule of assets (held at end of year) as of December 31, 2005, which report appears in the December 31, 2005 Annual Report on Form 11-K of the Comcast Corporation Retirement-Investment Plan.
/s/ Mitchell & Titus, LLP
Philadelphia, PA
June 27, 2006
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Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
COMCAST CORPORATION RETIREMENT-INVESTMENT PLAN | ||
By: | Comcast Corporation Plan Administrator |
June 29, 2006
By: |
/s/ Lawrence J. Salva | |
Lawrence J. Salva Senior Vice President, Chief Accounting Officer and Controller |
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