Cable EBITDA margins at the high end of peers, which we expect to remain in the 40% area over the next few years; Leading subscriber operating metrics compared to peers; Significant scale in cable, providing benefits in the areas of programming expenses, equipment procurement, and the addressable market for business services; and Moderate diversity and good performance at NBCUniversal's (NBCU) film, broadcast, and theme park segments, with cable networks providing predictable ongoing cash flows from long-term contracts with cable and satellite TV providers. Our expectation that adjusted debt to EBITDA will be in the low-2x area over the next couple of years; Funds from operations (FFO) to debt in the mid-30% area; and Discretionary cash flow to debt in the
