NBCUniversal is one of the world's leading media and entertainment companies in the development, production and marketing of entertainment, news and information to a global audience. NBCUniversal owns and operates a valuable portfolio of news and entertainment television networks, a premier motion picture company, significant television production operations, a leading television stations group and world-renowned theme parks.

Revenue 6

NBCUniversal revenue increased 4% to $21.1 billion. Excluding the $782 million of revenue from the Olympics in 2010, revenue increased 8%.

Operating Cash Flow 2, 6

Operating cash flow increased 2% to $3.8 billion. Excluding the Olympics in 2010 and acquisition-related accounting revisions and costs totaling $340 million in 2011, operating cash flow increased 5%. These results reflect strong performance at Cable Networks, which generated $3.3 billion of operating cash flow, and Theme Parks, which generated $867 million.

Cable Networks 7

Operating cash flow increased 2% to $3.8 billion. Excluding the Olympics in 2010 and acquisition-related accounting revisions and costs totaling $340 million in 2011, operating cash flow increased 5%. These results reflect strong performance at Cable Networks, which generated $3.3 billion of operating cash flow, and Theme Parks, which generated $867 million.

Broadcast Television

The Broadcast Television segment includes the NBC broadcast network, its 10 owned local television stations and TV production studio, and Telemundo, its 15 owned local television stations, and cable network mun2.

Recent highlights of the Broadcast Television segment include the launch of The Voice, on NBC, which is currently one of the top-rated shows in U.S. television, and Telemundo's La Reina del Sur, the top-rated telenovela in the network's history. NBC News programs are the ratings leaders in total viewers across the board, with Today, NBC Nightly News with Brian Williams, and Meet the Press, while NBC Sports continues to bring audiences some of the most-watched events on television, including the top-rated NBC Sunday Night Football telecasts. NBC Sports' broadcast of Super Bowl XLVI was the most-watched program in U.S. television history, with 111.3 million viewers tuning in. Late-night perennial Saturday Night Live is the most-nominated show in Emmy Award history, with 142 nominations over its 37 seasons.

Filmed Entertainment

The Filmed Entertainment segment includes the operations of Universal Pictures and Focus Features, its specialty film studio.

Recent highlights include 2011's Fast Five, with global box office receipts of nearly $630 million, and Bridesmaids, which garnered nearly $290 million in global box office receipts and also became a video On Demand success, with nearly five million rentals in its first four months of availability. In March 2012, the animated feature Dr. Seuss' The Lorax garnered more than $70 million in domestic box office receipts in its opening weekend. Notable recent releases from Focus include Beginners and Tinker, Tailor, Soldier, Spy. Universal and Focus both have extensive international production and distribution operations.

Theme Parks

The Theme Parks segment consists primarily of Universal Orlando and Universal Studios Hollywood. In addition, the company licenses the Universal Studios brand name and other intellectual property to third parties that own and operate Universal theme parks in Japan and Singapore. The 2010 opening of The Wizarding World of Harry PotterTM, a new attraction at Universal Orlando, has proven to be transformative for the company, leading to new highs in attendance and per-capita spending. Building on this success, we recently announced plans to extend the Harry Potter franchise in our theme parks.


2 Operating Cash Flow is defined as operating income (loss) before depreciation and amortization, excluding impairment charges related to fixed and intangible assets and gains or losses on sale of assets, if any. Please refer to our Form 8-K (Quarterly Earnings Release) filed on February 15, 2012 for a reconciliation of consolidated operating cash flow, a non-GAAP financial measure.
6 Cable Communications and NBCUniversal financial results are presented on a pro forma basis. Pro forma results are presented as if the NBCUniversal transaction, which closed on January 28, 2011, and the acquisition of the remaining 50% interest of Universal Orlando, which closed on July 1, 2011, were effective on January 1, 2010. These results are based on historical results of operations, adjusted for the effects of acquisition accounting and eliminating the costs and expenses directly related to the transactions, and are not necessarily indicative of what the results would have been had we operated NBCUniversal and Universal Orlando since January 1, 2010.
Pro forma Cable Communications results include our Video, High-Speed Internet, Voice, Advertising and Business Services operations and the businesses of Comcast Interactive Media that were not contributed to NBCUniversal. Cable Communications results exclude our Regional Sports Networks, which were contributed to NBCUniversal.
Pro forma NBCUniversal results include its national cable programming networks, the NBC network and its owned NBC affiliated local television stations, the Telemundo network and its owned Telemundo affiliated local television stations, Universal Pictures filmed entertainment, the Universal Studios Hollywood and Orlando theme parks, and other related assets. Comcast’s national cable programming networks, Regional Sports Networks, DailyCandy and Fandango, which were contributed to NBCUniversal, are also included in these results.
Please refer to our Form 8-K filed on February 15, 2012 (Quarterly Earnings Release) for more information on our pro forma financial data.
7 Approximate U.S. subscribers at 12/31/11, based on The Nielsen Company's 2012 report, except for Universal HD and the Comcast SportsNet group, whose subscriber numbers were derived from information provided by multichannel video programming distributors.