What Comcast Corporation told the SEC could break it.

Comcast depends on third-party vendors for much of the hardware, software and operational support behind its services, and relies on third-party satellite transponder capacity to provide video services in Europe and on third-party wireless networks to offer wireless services in the U.S. and internationally — some of which are primary/sole sources.

“We also rely on third-party satellite transponder capacity to provide video services in Europe, as well as on third-party wireless networks to offer certain wireless services in the United States and internationally. Some of these vendors represent our primary source of supply”

Comcast purchases a significant amount of customer premise equipment (wireless gateways, set-top boxes), network equipment and services from a limited number of suppliers to provide its broadband and video services to residential and business customers.

“We purchase from a limited number of suppliers a significant amount of customer premise equipment, including wireless gateways and set-top boxes, network equipment, and services to provide our broadband and video services to residential and business customers.”

About 30% of Comcast's ~179,000 employees are in 30+ countries (concentrated in the UK, Western Europe, East and South Asia); it operates Sky in Europe and Universal Beijing Resort (China) jointly with a consortium of Chinese state-owned companies, exposing it to FX, political/social unrest and FCPA/UK Bribery Act compliance risk.

“Approximately 30% of our employees were located in over 30 countries outside the United States, with larger workforce concentrations in the United Kingdom, Western Europe, East Asia and South Asia.”

Comcast is subject to FCC and other federal/state/local and foreign enforcement actions and investigations (fines, sanctions, compliance plans), and U.S./foreign regulators or courts could adopt new competition/antitrust interpretations or laws that materially increase costs or restrict its businesses, including conditions on acquisitions.

“United States and foreign regulators and courts could adopt new interpretations of existing competition or antitrust laws or enact new competition or antitrust laws or regulatory tools that could negatively impact our businesses.”