v3.24.3
Segment Information
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Segment Information Segment Information
We are a global media and technology company with five segments: Residential Connectivity & Platforms, Business Services Connectivity, Media, Studios and Theme Parks.
Our financial data by segment is presented in the tables below. We do not present asset information for our segments as this information is not used to allocate resources.
Three Months Ended September 30, 2024
(in millions)
Residential Connectivity & Platforms
Business Services Connectivity
Media
Studios
Theme Parks
Total
Revenue from external customers
$17,807 $2,419 $6,926 $1,993 $2,289 $31,434 
Intersegment revenue(a)
59 6 1,305 833 — 2,203 
17,866 2,425 8,231 2,826 2,289 33,637 
Reconciliation of Revenue
Other revenue(b)
686 
Eliminations(a)
(2,253)
Total consolidated revenue$32,070 
Segment Adjusted EBITDA(c)
$6,904 $1,391 $650 $468 $847 $10,259 
Reconciliation of total segment Adjusted EBITDA
Media, Studios and Theme Parks headquarters and other(d)
(200)
Corporate and other(b)(c)
(300)
Eliminations
(21)
Depreciation(2,219)
Amortization(1,659)
Interest expense(1,037)
Investment and other income (loss), net(3)
Income before income taxes
$4,819 
Three Months Ended September 30, 2023
(in millions)
Residential Connectivity & Platforms
Business Services Connectivity
Media
Studios
Theme Parks
Total
Revenue from external customers$17,901 $2,314 $4,869 $1,994 $2,419 $29,497 
Intersegment revenue(a)
50 6 1,160 524 (1)1,739 
17,951 2,320 6,029 2,518 2,418 31,236 
Reconciliation of Revenue
Other revenue(b)
656 
Eliminations(a)
(1,777)
Total consolidated revenue$30,115 
Segment Adjusted EBITDA(c)
$6,886 $1,335 $723 $429 $983 $10,356 
Reconciliation of total segment Adjusted EBITDA
Media, Studios and Theme Parks headquarters and other(d)
(178)
Corporate and other(b)(c)
(244)
Eliminations
33 
Depreciation(2,203)
Amortization(1,290)
Interest expense(1,060)
Investment and other income (loss), net50 
Income before income taxes
$5,465 
Nine Months Ended September 30, 2024
(in millions)
Residential Connectivity & Platforms
Business Services Connectivity
Media
Studios
Theme Parks
Total
Revenue from external customers
$53,431 $7,236 $17,338 $5,555 $6,242 $89,802 
Intersegment revenue(a)
127 17 3,588 2,268 1 6,001 
53,558 7,253 20,926 7,822 6,243 95,803 
Reconciliation of Revenue
Other revenue(b)
2,181 
Eliminations(a)
(6,167)
Total consolidated revenue$91,817 
Segment Adjusted EBITDA(c)
$20,859 $4,137 $2,832 $835 $2,111 $30,774 
Reconciliation of total segment Adjusted EBITDA
Media, Studios and Theme Parks headquarters and other(d)
(642)
Corporate and other(b)(c)
(881)
Eliminations
22 
Depreciation(6,548)
Amortization(4,421)
Interest expense(3,065)
Investment and other income (loss), net(140)
Income before income taxes
$15,099 
Nine Months Ended September 30, 2023
(in millions)
Residential Connectivity & Platforms
Business Services Connectivity
Media
Studios
Theme Parks
Total
Revenue from external customers$53,742 $6,878 $14,884 $6,328 $6,577 $88,409 
Intersegment revenue(a)
146 17 3,492 2,233 (1)5,886 
53,888 6,894 18,376 8,561 6,576 94,296 
Reconciliation of Revenue
Other revenue(b)
2,048 
Eliminations(a)
(6,025)
Total consolidated revenue$90,319 
Segment Adjusted EBITDA(c)
$20,672 $3,988 $2,847 $961 $2,473 $30,941 
Reconciliation of total segment Adjusted EBITDA
Media, Studios and Theme Parks headquarters and other(d)
(610)
Corporate and other(b)(c)
(824)
Eliminations
131 
Depreciation(6,662)
Amortization(4,146)
Interest expense(3,068)
Investment and other income (loss), net672 
Income before income taxes
$16,434 
(a)Our most significant intersegment revenue transactions include distribution revenue in Media related to fees from Residential Connectivity & Platforms for the rights to distribute television programming, and content licensing revenue in Studios for licenses of owned content to Media.
(b)Includes the operations of our Sky-branded video services and television networks in Germany; Comcast Spectacor, which owns the Philadelphia Flyers and the Wells Fargo Center arena in Philadelphia, Pennsylvania; and Xumo, our consolidated streaming platform joint venture with Charter Communications. Corporate and other also includes overhead and personnel costs for Corporate.
(c)We use Adjusted EBITDA as the measure of profit or loss for our segments. From time to time we may report the impact of certain events, gains, losses or other charges related to our segments within Corporate and other.
(d)Includes overhead, personnel costs and costs associated with corporate initiatives for our Media, Studios and Theme Park segments.