Comcast Corp., balance sheet: debt

US$ in millions

	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Current portion of debt	5,958)	4,907)	2,069)	1,743)	2,132)
Noncurrent portion of debt	92,979)	94,186)	95,021)	93,068)	92,718)
Total debt (carrying amount)	98,937)	99,093)	97,090)	94,811)	94,850)

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

The carrying amount of total debt exhibited a generally increasing trend over the five-year period. While fluctuations occurred, the overall movement suggests a growing reliance on debt financing or a shift in debt maturity structures.

Total Debt Trend: Total debt stood at US$94.85 billion as of December 31, 2021, and experienced a slight decrease to US$94.811 billion by the end of 2022. A subsequent increase was observed in 2023, reaching US$97.090 billion. This upward trajectory continued into 2024, with total debt reaching US$99.093 billion, representing the highest value within the observed period. A modest decrease to US$98.937 billion was recorded by December 31, 2025.
Current vs. Noncurrent Portion: The composition of total debt reveals changes in the allocation between current and noncurrent portions. The current portion of debt decreased from US$2.132 billion in 2021 to US$1.743 billion in 2022, then increased to US$2.069 billion in 2023. A significant jump occurred in 2024, reaching US$4.907 billion, and continued to rise to US$5.958 billion in 2025. This indicates a growing proportion of debt due within one year. Conversely, the noncurrent portion of debt remained relatively stable between 2021 and 2023, fluctuating around US$93 billion. A slight decrease was noted in 2024 (US$94.186 billion) and 2025 (US$92.979 billion), potentially reflecting debt refinancing or repayments of long-term obligations.

The increasing current portion of debt, particularly in the latter years of the period, warrants further investigation. It could suggest a need for increased short-term liquidity management or a strategic decision to restructure debt obligations. The overall increase in total debt, coupled with the shift towards a larger current portion, should be considered in the context of the company’s broader financial strategy and its ability to meet its debt obligations.

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	Dec 31, 2025
Selected Financial Data (US$ in millions)
Total debt (fair value)	90,300)
Financial Ratio
Debt, fair value to carrying amount ratio	0.91

Based on: 10-K (reporting date: 2025-12-31).

Weighted-average effective interest rate on debt: 4.00%

Interest rate	Debt amount¹	Interest rate × Debt amount
4.00%	98,937)	3,957)
Total	98,937)	3,957)
4.00%

Based on: 10-K (reporting date: 2025-12-31).

¹ US$ in millions

² Weighted-average interest rate = 100 × 3,957 ÷ 98,937 = 4.00%

Comcast Corp. (NASDAQ:CMCSA)

Analysis of Debt

Total Debt (Carrying Amount)

Total Debt (Fair Value)

Weighted-average Interest Rate on Debt