Remaining unfunded capital commitment

[Table of Contents](#i81c7d83168aa4548b44fb8034fe87b3c_7)  
Comcast CorporationNote 7: Investments and Variable Interest EntitiesInvestment and Other Income (Loss), Net

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|   | Three Months EndedSeptember 30, |  | Nine Months EndedSeptember 30, |
| (in millions) | 2022 |  | 2021 |  | 2022 |  | 2021 |
| Equity in net income (losses) of investees, net | $ | (242) |  |  | $ | 602  |  |  | $ | (523) |  |  | $ | 1,696  |  |
| Realized and unrealized gains (losses) on equity securities, net | (2) |  |  | 106  |  |  | (207) |  |  | 532  |  |
| Other income (loss), net | (21) |  |  | 59  |  |  | (245) |  |  | 146  |  |
| Investment and other income (loss), net | $ | (266) |  |  | $ | 766  |  |  | $ | (975) |  |  | $ | 2,374  |  |

The amount of unrealized gains (losses), net recognized in the three months ended September 30, 2022 and 2021 that related to marketable and nonmarketable equity securities still held as of the end of each reporting period were $(43) million and $(165) million, respectively. The amount of unrealized gains (losses), net recognized in the nine months ended September 30, 2022 and 2021 that related to marketable and nonmarketable equity securities still held as of the end of each reporting period were $(283) million and $91 million, respectively.Investments

|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
| (in millions) | September 30,2022 |  | December 31,2021 |
| Equity method | $ | 5,487  |  |  | $ | 6,111  |  |
| Marketable equity securities | 143  |  |  | 406  |  |
| Nonmarketable equity securities | 1,704  |  |  | 1,735  |  |
| Other investments | 1,645  |  |  | 803  |  |
| Total investments | 8,979  |  |  | 9,055  |  |
| Less: Current investments | 1,122  |  |  | 368  |  |
| Less: Investment securing collateralized obligation | 539  |  |  | 605  |  |
| Noncurrent investments | $ | 7,318  |  |  | $ | 8,082  |  |

Equity Method InvestmentsThe amount of cash distributions received from equity method investments presented within operating activities in the condensed consolidated statement of cash flows in the nine months ended September 30, 2022 and 2021 was $114 million and $298 million, respectively.AtairosAtairos is a variable interest entity (“VIE”) that follows investment company accounting and records its investments at their fair values each reporting period with the net gains or losses reflected in its statement of operations. We recognize our share of these gains and losses in equity in net income (losses) of investees, net. For the nine months ended September 30, 2022 and 2021, we made cash capital contributions to Atairos totaling $39 million and $36 million, respectively. As of September 30, 2022 and December 31, 2021, our investment in Atairos, inclusive of certain distributions retained by Atairos on our behalf and classified as advances within other investments, was $4.3 billion and $4.7 billion, respectively. As of September 30, 2022, our remaining unfunded capital commitment was $1.5 billion.Hulu and Collateralized ObligationIn 2019, we borrowed $5.2 billion under a term loan facility due March 2024 which is fully collateralized by the minimum guaranteed proceeds of the put/call option related to our investment in Hulu. As of September 30, 2022 and December 31, 2021, the carrying value and estimated fair value of our collateralized obligation were $5.2 billion. The estimated fair value was based on Level 2 inputs that use interest rates for debt with similar terms and remaining maturities. We present our investment in Hulu and the term loan separately in our condensed consolidated balance sheet in the captions “investment securing collateralized obligation” and “collateralized obligation,” respectively. The recorded value of our investment reflects our historical cost in applying the equity method, and as a result, is less than its fair value.11
