Comcast (CMCSA)

Amortization

Amortization expense for the three and nine month interim periods in 2005 remained essentially unchanged from the same periods in 2004. This reflects an ongoing reduction in amortization of approximately $100 million in 2005 associated with intangibles acquired in the Broadband acquisition and a non-recurring adjustment reducing our intangible amortization associated with obtaining updated valuation reports for certain recent acquisitions, partially offset by the effects of the write off in the first quarter of 2005 of approximately $20 million of acquired in-process research and development from our transaction with Motorola (see Note 4) and other additions to intangible assets. The acquired in-process research and development was immediately expensed since the related technology had not reached technological feasibility as of the transaction date.

31

COMCAST CORPORATION AND SUBSIDIARIES

FORM 10-Q

QUARTER ENDED SEPTEMBER 30, 2005

Amortization

Amortization expense for the three month interim period in 2005 decreased $17 million or 5.9% from the same period in 2004. The decrease reflects an ongoing reduction in annual amortization of approximately $100 million associated with intangibles acquired in the Broadband acquisition and a non-recurring adjustment reducing our intangible amortization associated with obtaining updated valuation reports for certain recent acquisitions. Amortization expense for the six month interim period in 2005 remained essentially unchanged from the same period in 2004 as a result of the adjustments described above, offset by the effects of the write off of approximately $20 million of acquired in-process research and development from our transaction with Motorola (see Note 4). The acquired in-process research and development was immediately expensed since the related technology had not reached technological feasibility as of the transaction date.

30

COMCAST CORPORATION AND SUBSIDIARIES
FORM 10-Q
QUARTER ENDED JUNE 30, 2005

Amortization

Amortization expense for the first quarter of 2005 increased $14 million, or 5.1%, from the same quarter in 2004, primarily as a result of recognizing as an expense of the current period $20 million of the purchase price allocated to acquired in-process research and development from our transaction with Motorola. The acquired in-process research and development was immediately expensed since the related technology had not reached technological feasibility as of the transaction date.

Amortization

The changes in amortization expense for the years 2004 and 2003 are primarily attributable to our cable segment. The decrease in our cable segment for the year 2004 compared to the previous year relates to decreases in the amortization of our franchise-related customer relationship intangible assets. As a result of the Broadband acquisition, we recorded approximately $3.4 billion of franchise-related customer relationship intangible assets, which we are amortizing over their average estimated useful life of approximately four years. In the fourth quarter of 2003, we reduced the value of these intangible assets because we obtained updated valuation reports, which resulted in lower amortization expense. This decrease was partially offset by amortization associated with intangibles acquired in the Gemstar transaction. This decrease was also offset by our content segment, principally associated with intangibles acquired in the TechTV and Liberty exchange transactions. (See Note 5 to our consolidated financial statements included in Item 8 for further discussion about these transactions). The increase in our cable segment for the year 2003 compared to the previous year relates principally to the effects of the Broadband acquisition.