Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
In Billions, except Share data, unless otherwise specified | Dec. 31, 2014 | Jun. 30, 2014 | Feb. 09, 2015 |
Document Type | 10-K | ||
Document Period End Date | 31-Dec-14 | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | FALSE | ||
Entity Registrant Name | Discovery Communications, Inc. | ||
Entity Central Index Key | 1437107 | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Public Float | $16 | ||
Series A Common Stock [Member] | |||
Entity Common Stock, Shares Outstanding | 148,638,919 | ||
Series B Common Stock [Member] | |||
Entity Common Stock, Shares Outstanding | 6,542,457 | ||
Series C Common Stock [Member] | |||
Entity Common Stock, Shares Outstanding | 284,070,868 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Current assets: | ||
Cash and cash equivalents | $367 | $408 |
Receivables, net | 1,433 | 1,371 |
Content rights, net | 329 | 277 |
Deferred income taxes | 87 | 73 |
Prepaid expenses and other current assets | 275 | 281 |
Total current assets | 2,491 | 2,410 |
Noncurrent content rights, net | 1,973 | 1,883 |
Property and equipment, net | 554 | 514 |
Goodwill | 8,236 | 7,341 |
Intangible assets, net | 1,971 | 1,565 |
Equity method investments | 644 | 1,087 |
Other noncurrent assets | 145 | 179 |
Total assets | 16,014 | 14,979 |
Current liabilities: | ||
Accounts payable | 225 | 141 |
Accrued liabilities | 1,094 | 992 |
Deferred revenues | 178 | 144 |
Current portion of debt | 1,107 | 17 |
Total current liabilities | 2,604 | 1,294 |
Noncurrent portion of debt | 6,046 | 6,482 |
Deferred income taxes | 588 | 637 |
Other noncurrent liabilities | 425 | 333 |
Total liabilities | 9,663 | 8,746 |
Commitments and contingencies (See Note 21.) | ||
Redeemable noncontrolling interests | 747 | 36 |
Discovery Communications, Inc. stockholders' equity | ||
Additional paid-in capital | 6,917 | 6,826 |
Treasury stock, at cost | -4,763 | -3,531 |
Retained earnings | 3,809 | 2,892 |
Accumulated other comprehensive (loss) income | -368 | 4 |
Total Discovery Communications, Inc. stockholders' equity | 5,602 | 6,196 |
Noncontrolling interests | 2 | 1 |
Total equity | 5,604 | 6,197 |
Total liabilities and equity | 16,014 | 14,979 |
Series A Convertible Preferred Stock [Member] | ||
Discovery Communications, Inc. stockholders' equity | ||
Convertible preferred stock | 1 | 1 |
Series C Convertible Preferred Stock [Member] | ||
Discovery Communications, Inc. stockholders' equity | ||
Convertible preferred stock | 1 | 1 |
Series A Common Stock [Member] | ||
Discovery Communications, Inc. stockholders' equity | ||
Common stock | 1 | 1 |
Treasury stock, at cost | -171 | |
Series B Common Stock [Member] | ||
Discovery Communications, Inc. stockholders' equity | ||
Convertible common stock | 0 | 0 |
Series C Common Stock [Member] | ||
Discovery Communications, Inc. stockholders' equity | ||
Common stock | 4 | 2 |
Treasury stock, at cost | ($4,600) |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Stock, shares authorized | 150,000,000 | |
Series A Convertible Preferred Stock [Member] | ||
Stock, par value | $0.01 | $0.01 |
Stock, shares authorized | 75,000,000 | 75,000,000 |
Stock, shares issued | 71,000,000 | 71,000,000 |
Series C Convertible Preferred Stock [Member] | ||
Stock, par value | $0.01 | $0.01 |
Stock, shares authorized | 75,000,000 | 75,000,000 |
Stock, shares issued | 42,000,000 | 44,000,000 |
Series A Common Stock [Member] | ||
Stock, par value | $0.01 | $0.01 |
Stock, shares authorized | 1,700,000,000 | 1,700,000,000 |
Stock, shares issued | 151,000,000 | 150,000,000 |
Series B Common Stock [Member] | ||
Stock, par value | $0.01 | $0.01 |
Stock, shares authorized | 100,000,000 | 100,000,000 |
Stock, shares issued | 7,000,000 | 7,000,000 |
Series C Common Stock [Member] | ||
Stock, par value | $0.01 | $0.01 |
Stock, shares authorized | 2,000,000,000 | 2,000,000,000 |
Stock, shares issued | 375,000,000 | 151,000,000 |
Consolidated_Statements_Of_Ope
Consolidated Statements Of Operations (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||||||||||
In Millions, except Per Share data, unless otherwise specified | 30-May-14 | Jul. 16, 2013 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||||||
Revenues: | |||||||||||||||||||||
Distribution | $2,842 | $2,536 | $2,206 | ||||||||||||||||||
Advertising | 3,089 | 2,739 | 2,037 | ||||||||||||||||||
Other | 334 | 260 | 244 | ||||||||||||||||||
Total revenues | 1,676 | [1] | 1,568 | [1] | 1,610 | 1,411 | 1,537 | [2] | 1,375 | [2] | 1,467 | [2] | 1,156 | 6,265 | 5,535 | 4,487 | |||||
Costs and expenses: | |||||||||||||||||||||
Costs of revenues, excluding depreciation and amortization | 2,124 | 1,689 | 1,218 | ||||||||||||||||||
Selling, general and administrative | 1,692 | 1,598 | 1,287 | ||||||||||||||||||
Depreciation and amortization | 329 | 276 | 117 | ||||||||||||||||||
Restructuring and other charges | 90 | 16 | 6 | ||||||||||||||||||
Gain on disposition | -31 | -19 | -31 | -19 | 0 | ||||||||||||||||
Total costs and expenses | 4,204 | 3,560 | 2,628 | ||||||||||||||||||
Operating income | 476 | [1] | 511 | [1] | 640 | 434 | 522 | [2] | 488 | [2] | 549 | [2] | 416 | 2,061 | 1,975 | 1,859 | |||||
Interest expense | -328 | -306 | -248 | ||||||||||||||||||
Income (loss) from equity investees, net | 23 | 18 | -86 | ||||||||||||||||||
Other (expense) income, net | -9 | 49 | -7 | ||||||||||||||||||
Income from continuing operations before income taxes | 1,747 | 1,736 | 1,518 | ||||||||||||||||||
Provision for income taxes | -610 | -659 | -562 | ||||||||||||||||||
Income from continuing operations, net of taxes | 1,137 | 1,077 | 956 | ||||||||||||||||||
Loss from discontinued operations, net of taxes | 0 | 0 | -11 | ||||||||||||||||||
Net income | 235 | [1] | 287 | [1] | 384 | 231 | 290 | [2] | 256 | [2] | 300 | [2] | 231 | 1,137 | 1,077 | 945 | |||||
Net income attributable to nonredeemable noncontrolling interests | -2 | -1 | -2 | ||||||||||||||||||
Net loss (income) attributable to redeemable noncontrolling interests | 4 | -1 | 0 | ||||||||||||||||||
Net income attributable to Discovery Communications, Inc. | 250 | [1] | 280 | [1] | 379 | 230 | 289 | [2] | 255 | [2] | 300 | [2] | 231 | 1,139 | 1,075 | 943 | |||||
Basic earnings per share available to Discovery Communications, Inc. stockholders | |||||||||||||||||||||
Net income | $0.38 | [3] | $0.41 | [3] | $0.55 | [3] | $0.33 | [3] | $0.41 | [3] | $0.36 | [3] | $0.41 | [3] | $0.32 | [3] | |||||
Diluted earnings per share available to Discovery Communications, Inc. stockholders | |||||||||||||||||||||
Net income | $0.38 | [3] | $0.41 | [3] | $0.54 | [3] | $0.33 | [3] | $0.41 | [3] | $0.35 | [3] | $0.41 | [3] | $0.32 | [3] | |||||
Series A, B and C Common Stock [Member] | |||||||||||||||||||||
Costs and expenses: | |||||||||||||||||||||
Loss from discontinued operations, net of taxes | $0 | $0 | ($7) | ||||||||||||||||||
Basic earnings per share available to Discovery Communications, Inc. stockholders | |||||||||||||||||||||
Continuing operations | $1.67 | $1.50 | $1.27 | ||||||||||||||||||
Discontinued operations | $0 | $0 | ($0.01) | ||||||||||||||||||
Net income | $1.67 | $1.50 | $1.25 | ||||||||||||||||||
Diluted earnings per share available to Discovery Communications, Inc. stockholders | |||||||||||||||||||||
Continuing operations | $1.66 | $1.49 | $1.26 | ||||||||||||||||||
Discontinued operations | $0 | $0 | ($0.01) | ||||||||||||||||||
Net income | $1.66 | $1.49 | $1.24 | ||||||||||||||||||
Weighted average shares outstanding: | |||||||||||||||||||||
Basic | 454 | 484 | 498 | ||||||||||||||||||
Diluted | 687 | 722 | 759 | ||||||||||||||||||
[1] | (a) On September 23, 2014, the Company acquired an additional 10% ownership interest in Discovery Family and, as a result, the accounting for Discovery Family was changed from an equity method investment to a consolidated subsidiary. On May 30, 2014, the Company acquired a controlling interest in Eurosport and, as a result, the accounting for Eurosport was changed from an equity method investment to a consolidated subsidiary. (See Note 3.) | ||||||||||||||||||||
[2] | (b)On April 9, 2013, the Company acquired SBS Nordic. The Company included the operations of this acquisition in the Company's consolidated financial statements as of the acquisition date. (See Note 3.) | ||||||||||||||||||||
[3] | (c) Per share data for earnings per share has been retroactively adjusted to give effect to the 2-for-1 split of the Companybs common stock on AugustB 6, 2014. (See Note 18.) |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||||
Statement of Comprehensive Income [Abstract] | ||||||||||||||||
Net income | $235 | [1] | $287 | [1] | $384 | $231 | $290 | [2] | $256 | [2] | $300 | [2] | $231 | $1,137 | $1,077 | $945 |
Other comprehensive (loss) income, net of tax | ||||||||||||||||
Currency translation adjustments | -399 | -11 | 28 | |||||||||||||
Derivative and market value adjustments | -13 | 8 | -1 | |||||||||||||
Comprehensive income | 725 | 1,074 | 972 | |||||||||||||
Comprehensive income attributable to noncontrolling interests | -2 | -1 | -2 | |||||||||||||
Comprehensive loss attributable to redeemable noncontrolling interests | 44 | 2 | 0 | |||||||||||||
Comprehensive income attributable to Discovery Communications Inc. | $767 | $1,075 | $970 | |||||||||||||
[1] | (a) On September 23, 2014, the Company acquired an additional 10% ownership interest in Discovery Family and, as a result, the accounting for Discovery Family was changed from an equity method investment to a consolidated subsidiary. On May 30, 2014, the Company acquired a controlling interest in Eurosport and, as a result, the accounting for Eurosport was changed from an equity method investment to a consolidated subsidiary. (See Note 3.) | |||||||||||||||
[2] | (b)On April 9, 2013, the Company acquired SBS Nordic. The Company included the operations of this acquisition in the Company's consolidated financial statements as of the acquisition date. (See Note 3.) |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Operating Activities | |||
Net income | $1,137 | $1,077 | $945 |
Adjustments to reconcile net income to cash provided by operating activities: | |||
Equity-based compensation expense | 78 | 190 | 154 |
Depreciation and amortization | 329 | 276 | 117 |
Content amortization and impairment expense | 1,557 | 1,190 | 865 |
(Gain) loss on dispositions | -31 | -19 | 6 |
Remeasurement gain on previously held equity interests | -29 | -92 | 0 |
Equity in (earnings) losses and distributions from investee companies, net of cash distributions | -1 | -4 | 106 |
Deferred income tax (benefit) expense | -181 | 83 | -70 |
Launch amortization expense | 11 | 18 | 20 |
Loss from hedging instruments, net | 0 | 55 | 0 |
Other, net | 33 | 32 | 12 |
Changes in operating assets and liabilities, net of business combinations: | |||
Receivables, net | 6 | -120 | -59 |
Content rights | -1,683 | -1,426 | -1,091 |
Accounts payable and accrued liabilities | 138 | 106 | 171 |
Equity-based compensation liabilities | -81 | -64 | -45 |
Income tax receivable | 40 | -5 | -11 |
Other, net | -5 | -12 | -21 |
Cash provided by operating activities | 1,318 | 1,285 | 1,099 |
Investing Activities | |||
Purchases of property and equipment | -120 | -115 | -77 |
Business acquisitions, net of cash acquired | -372 | -1,861 | -149 |
Hedging instruments, net | 0 | -55 | 0 |
Proceeds from dispositions | 45 | 28 | 0 |
Distributions from equity method investees | 61 | 47 | 17 |
Investments in equity method investees, net | -177 | -28 | -404 |
Other investing activities, net | -5 | -3 | -30 |
Cash used in investing activities | -568 | -1,987 | -643 |
Financing Activities | |||
Borrowings from debt, net of discount | 415 | 1,198 | 992 |
Borrowings under revolving credit facility, net | 38 | 0 | 0 |
Commercial paper, net | 229 | 0 | 0 |
Debt issuance cost | -6 | -12 | -11 |
Principal repayments of capital lease obligations | -19 | -32 | -22 |
Repurchases of stock | -1,422 | -1,305 | -1,380 |
Cash proceeds from equity-based plans, net | 44 | 73 | 119 |
Other financing activities, net | -13 | -7 | -3 |
Cash used in financing activities | -734 | -85 | -305 |
Effect of exchange rate changes on cash and cash equivalents | -57 | -6 | 2 |
Net change in cash and cash equivalents | -41 | -793 | 153 |
Cash and cash equivalents, beginning of period | 408 | 1,201 | 1,048 |
Cash and cash equivalents, end of period | 367 | 408 | 1,201 |
Supplemental Cash Flow Information | |||
Cash paid for interest, net | 315 | 299 | 244 |
Cash paid for taxes, net | 686 | 484 | 485 |
Noncash Investing and Financing Transactions | |||
Assets acquired under capital lease arrangements | 43 | 87 | 25 |
Accrued purchases of property and equipment | $13 | $11 | $11 |
Consolidated_Statements_Of_Equ
Consolidated Statements Of Equity (USD $) | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-In Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive (Loss)/Income [Member] | Discovery Communications, Inc. Stockholders' Equity [Member] | Noncontrolling Interests [Member] |
In Millions, except Share data | |||||||||
Beginning Balance at Dec. 31, 2011 | $6,519 | $2 | $3 | $6,505 | ($1,102) | $1,132 | ($23) | $6,517 | $2 |
Beginning Balance (in shares) at Dec. 31, 2011 | 128,000,000 | ||||||||
Beginning Balance (in shares) at Dec. 31, 2011 | 291,000,000 | ||||||||
Net income | 945 | 0 | 0 | 0 | 0 | 943 | 0 | 943 | 2 |
Other comprehensive income | 27 | 0 | 0 | 0 | 0 | 0 | 27 | 27 | 0 |
Repurchases of stock | -1,380 | 0 | 0 | 0 | -1,380 | 0 | 0 | -1,380 | 0 |
Equity-based compensation | 65 | 0 | 0 | 65 | 0 | 0 | 0 | 65 | 0 |
Excess tax benefits from equity-based compensation | 38 | 0 | 0 | 38 | 0 | 0 | 0 | 38 | 0 |
Tax settlements associated with equity-based plans | -3 | 0 | 0 | -3 | 0 | 0 | 0 | -3 | 0 |
Issuance of common stock in connection with equity-based plans (in shares) | 0 | 5,000,000 | |||||||
Issuance of common stock in connection with equity-based plans | 84 | 0 | 0 | 84 | 0 | 0 | 0 | 84 | 0 |
Cash distributions to noncontrolling interests | -2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -2 |
Share conversion (in shares) | -8,000,000 | 8,000,000 | |||||||
Share conversion | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Ending Balance at Dec. 31, 2012 | 6,293 | 2 | 3 | 6,689 | -2,482 | 2,075 | 4 | 6,291 | 2 |
Ending Balance (in shares) at Dec. 31, 2012 | 120,000,000 | ||||||||
Ending Balance (in shares) at Dec. 31, 2012 | 304,000,000 | ||||||||
Net income | 1,076 | 0 | 0 | 0 | 0 | 1,075 | 0 | 1,075 | 1 |
Repurchases of stock (in shares) | -4,000,000 | 0 | |||||||
Repurchases of stock | -1,305 | 0 | 0 | 0 | -1,049 | -256 | 0 | -1,305 | 0 |
Equity-based compensation | 67 | 0 | 0 | 67 | 0 | 0 | 0 | 67 | 0 |
Excess tax benefits from equity-based compensation | 44 | 0 | 0 | 44 | 0 | 0 | 0 | 44 | 0 |
Tax settlements associated with equity-based plans | -22 | 0 | 0 | -22 | 0 | 0 | 0 | -22 | 0 |
Issuance of common stock in connection with equity-based plans (in shares) | 0 | 3,000,000 | |||||||
Issuance of common stock in connection with equity-based plans | 51 | 0 | 0 | 51 | 0 | 0 | 0 | 51 | 0 |
Other adjustments for equity-based plans | -3 | 0 | 0 | -3 | 0 | 0 | 0 | -3 | 0 |
Redeemable noncontrolling interest adjustments to redemption value | -2 | 0 | 0 | 0 | 0 | -2 | 0 | -2 | 0 |
Cash distributions to noncontrolling interests | -2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -2 |
Share conversion (in shares) | -1,000,000 | 1,000,000 | |||||||
Share conversion | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Ending Balance at Dec. 31, 2013 | 6,197 | 2 | 3 | 6,826 | -3,531 | 2,892 | 4 | 6,196 | 1 |
Ending Balance (in shares) at Dec. 31, 2013 | 115,000,000 | ||||||||
Ending Balance (in shares) at Dec. 31, 2013 | 308,000,000 | ||||||||
Net income | 1,141 | 0 | 0 | 0 | 0 | 1,139 | 0 | 1,139 | 2 |
Other comprehensive income | -372 | 0 | 0 | 0 | 0 | 0 | -372 | -372 | 0 |
Repurchases of stock (in shares) | -2,000,000 | 0 | |||||||
Repurchases of stock | -1,422 | 0 | 0 | 0 | -1,232 | -190 | 0 | -1,422 | 0 |
Stock split effected in the form of a share dividend (in shares) | 0 | 224,000,000 | |||||||
Stock split effected in the form of a share dividend | 0 | 0 | 2 | -2 | 0 | 0 | 0 | 0 | 0 |
Equity-based compensation | 50 | 0 | 0 | 50 | 0 | 0 | 0 | 50 | 0 |
Excess tax benefits from equity-based compensation | 30 | 0 | 0 | 30 | 0 | 0 | 0 | 30 | 0 |
Tax settlements associated with equity-based plans | -27 | 0 | 0 | -27 | 0 | 0 | 0 | -27 | 0 |
Issuance of common stock in connection with equity-based plans (in shares) | 0 | 1,000,000 | |||||||
Issuance of common stock in connection with equity-based plans | 41 | 0 | 0 | 41 | 0 | 0 | 0 | 41 | 0 |
Other adjustments for equity-based plans | -6 | 0 | 0 | -6 | 0 | 0 | 0 | -6 | 0 |
Redeemable noncontrolling interest adjustments to redemption value | -31 | 0 | 0 | 0 | 0 | -31 | 0 | -31 | 0 |
Cash distributions to noncontrolling interests | -1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1 |
Purchase of redeemable noncontrolling interest | 5 | 0 | 0 | 5 | 0 | 0 | 0 | 5 | 0 |
Stockholders' Equity, Other | -1 | 0 | 0 | 0 | 0 | -1 | 0 | -1 | 0 |
Ending Balance at Dec. 31, 2014 | $5,604 | $2 | $5 | $6,917 | ($4,763) | $3,809 | ($368) | $5,602 | $2 |
Ending Balance (in shares) at Dec. 31, 2014 | 113,000,000 | ||||||||
Ending Balance (in shares) at Dec. 31, 2014 | 533,000,000 |
Description_Of_Business_And_Ba
Description Of Business And Basis Of Presentation | 12 Months Ended |
Dec. 31, 2014 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Description Of Business And Basis Of Presentation | DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION |
Description of Business | |
Discovery Communications, Inc. (“Discovery” or the “Company”) is a global media company that provides content across multiple distribution platforms, including pay-TV, free-to-air and broadcast television, websites, digital distribution arrangements and content licensing agreements. The Company also develops and sells curriculum-based education products and services and operates production studios. The Company classifies its operations as follows: in two reportable segments: U.S. Networks, consisting principally of domestic television networks and websites and International Networks, consisting principally of international television networks, radio stations and websites; and two combined operating segments referred to as Education and Other, consisting principally of curriculum-based product and service offerings and production studios. Financial information for Discovery’s reportable segments is discussed in Note 22. | |
Basis of Presentation | |
The consolidated financial statements include the accounts of Discovery and its majority-owned subsidiaries in which a controlling interest is maintained. Inter-company accounts and transactions between consolidated entities have been eliminated in consolidation. | |
Reclassifications | |
Transactions denominated in currencies other than subsidiaries' functional currencies are recorded based on exchange rates at the time such transactions arise. Changes in exchange rates with respect to monetary assets and liabilities denominated in a foreign currency will result in foreign currency transaction gains and losses based upon the differences between the transaction date rates and the period-end exchange rates. Beginning January 1, 2014, the Company reclassified foreign currency gains (losses), net as described above from selling, general and administrative expense to other (expense) income, net on the consolidated statements of operations for all periods presented. For the years ended December 31, 2013 and 2012, foreign currency gains of $23 million and losses of $4 million, respectively, were reclassified from selling, general and administrative expense to other (expense) income, net to conform to the current year presentation. (See Note 19.) | |
Recasting of Certain Prior Period Information | |
The Company’s reportable segments are determined based on (i) financial information reviewed by its chief operating decision maker (“CODM”), the Chief Executive Officer ("CEO"), (ii) internal management and related reporting structure, and (iii) the basis upon which the CEO makes resource allocation decisions. During the year-end December 31, 2014, the Company changed its organizational structure and reorganized its production studios into an operating segment. Previously, components of this segment were part of the U.S. Networks and International Networks segments. The Company has recast all prior period amounts to conform to the current structure for internally managing and monitoring segment performance as of the year-ended December 31, 2014. The segment does not meet the quantitative thresholds of a separate reportable segment and has been combined with the Education segment, referred to as Education and Other, for financial statement presentation in all periods as a reconciling item to consolidated figures. (See Note 22.) | |
Stock Split Effected in the Form of a Share Dividend | |
On May 16, 2014, Discovery's Board of Directors approved a stock split effected in the form of a share dividend (the "2014 Share Dividend") of one share of the Company's Series C common stock on each issued and outstanding share of Series A, Series B, and Series C common stock. The stock split did not change the number of treasury shares or the number of outstanding preferred shares, but the conversion ratio on the preferred shares doubled. (See Note 13.) The 2014 Share Dividend was provided on August 6, 2014 to stockholders of record on July 28, 2014 and has been accounted for as a 2 for 1 stock split. All share and per share data for earnings per share and equity-based compensation have been retroactively adjusted to give effect to the 2014 Share Dividend. The impact on the consolidated balance sheet was an increase of $2 million to common stock and an offsetting reduction in additional paid-in capital, which has been recognized in the current period. |
Summary_Of_Significant_Account
Summary Of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2014 | |
Accounting Policies [Abstract] | |
Summary Of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Accounting and Reporting Pronouncements Adopted | |
Reporting Discontinued Operations | |
In April 2014, the Financial Accounting Standards Board ("FASB") issued guidance that changes the criteria for reporting discontinued operations and requires additional disclosures about discontinued operations and disposals of components of an entity that do not qualify for discontinued operations reporting. Under the new pronouncement, disposal of a component of an entity representing a strategic shift with a major effect on its operations and financial results is a discontinued operation. The Company adopted the new guidance on July 1, 2014. | |
The component of an entity that has been disposed or meets the criteria to be classified as held for sale and is presented as a discontinued operation, must represent a strategic shift that has or will have a major effect on the Company's operations and financial results. The results of operations of a component classified as discontinued operations, as well as any gain or loss on the disposal transaction, are aggregated for presentation apart from continuing operating results of the Company in the consolidated statements of operations for all periods presented. If a discontinued operation is classified as held for sale, the assets and liabilities of the discontinued operation will be presented separately in the statement of financial position for all periods presented. Cash flows from discontinued operations are combined with continuing operations on the consolidated statements of cash flow. | |
Presentation of Unrecognized Tax Benefits | |
In July 2013, the FASB issued guidance stating that a liability related to an unrecognized tax benefit should be presented as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carry forward to the extent such deferred tax asset is available at the reporting date to settle any additional income taxes that would result from the disallowance of a tax position. The Company prospectively adopted the new guidance effective January 1, 2014. As of December 31, 2014, there are no unrecognized tax benefits reducing deferred tax assets on the consolidated balance sheet. | |
Accounting and Reporting Pronouncements Not Yet Adopted | |
Presentation of Financial Statements - Going Concern | |
In August 2014, the FASB issued guidance requiring management to perform interim and annual assessments regarding conditions or events that raise substantial doubt about the Company's ability to continue as a going concern and to provide related disclosures, if applicable. The new standard will be effective for reporting periods beginning after December 15, 2016, with early adoption permitted. The adoption of this standard is not expected to have a material effect on the Company's consolidated financial statements. | |
Revenue from Contracts with Customers | |
In May 2014, the FASB issued an accounting pronouncement related to revenue recognition, which applies a single, comprehensive revenue recognition model for all contracts with customers. This standard contains principles with respect to the measurement of revenue and timing of recognition. The Company will recognize revenue to reflect the transfer of goods or services to customers at an amount that it expects to be entitled to receive in exchange for those goods or services. This pronouncement is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. Early adoption is not permitted. The Company is currently evaluating the impact that the pronouncement will have on the consolidated financial statements. | |
Use of Estimates | |
The preparation of financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates, judgments and assumptions that affect the amounts and disclosures reported in the consolidated financial statements and accompanying notes. Management continually re-evaluates its estimates, judgments and assumptions and management’s evaluations could change. These estimates are sometimes complex, sensitive to changes in assumptions and require fair value determinations using Level 3 fair value measurements. Actual results may differ materially from those estimates. | |
Estimates inherent in the preparation of the consolidated financial statements include accounting for asset impairments, revenue recognition, allowances for doubtful accounts, content rights, depreciation and amortization, business combinations, equity-based compensation, income taxes, other financial instruments, contingencies, and the determination of whether the Company is the primary beneficiary of entities in which it holds variable interests. | |
Consolidation | |
The Company has ownership and other interests in various entities, including corporations, partnerships, and limited liability companies. For each such entity, the Company evaluates its ownership and other interests to determine whether it should consolidate the entity or account for its ownership interest as an investment. As part of its evaluation, the Company initially determines whether the entity is a variable interest entity ("VIE") and, if so, whether it is the primary beneficiary of the VIE. An entity is generally a VIE if it meets any of the following criteria: (i) the entity has insufficient equity to finance its activities without additional subordinated financial support from other parties, (ii) the equity investors cannot make significant decisions about the entity’s operations, or (iii) the voting rights of some investors are not proportional to their obligations to absorb the expected losses of the entity or receive the expected returns of the entity and substantially all of the entity’s activities involve or are conducted on behalf of the investor with disproportionately few voting rights. The Company consolidates VIEs for which it is the primary beneficiary, regardless of its ownership or voting interests. The primary beneficiary is the party involved with the VIE that (i) has the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, and (ii) has the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. Upon inception of a variable interest or the occurrence of a reconsideration event, the Company makes judgments in determining whether entities in which it invests are VIEs. If so, the Company makes judgments to determine whether it is the primary beneficiary and is thus required to consolidate the entity. | |
If it is concluded that an entity is not a VIE, then the Company considers its proportional voting interests in the entity. The Company consolidates majority-owned subsidiaries in which a controlling financial interest is maintained. A controlling financial interest is determined by majority ownership and the absence of significant third-party participating rights. | |
Ownership interests in entities for which the Company has significant influence that are not consolidated under the Company’s consolidation policy are accounted for as equity method investments. Related party transactions between the Company and its equity method investees have not been eliminated. (See Note 20.) | |
Investments | |
The Company holds investments in equity method investees and other marketable securities. Investments in equity method investees are those for which the Company has the ability to exercise significant influence but does not control and is not the primary beneficiary. Significant influence typically exists if the Company has a 20% to 50% ownership interest in the venture unless persuasive evidence to the contrary exists. Under this method of accounting, the Company records its proportionate share of the net earnings or losses of equity method investees and a corresponding increase or decrease to the investment balances. Cash payments to equity method investees such as additional investments, loans and advances and expenses incurred on behalf of investees, as well as payments from equity method investees such as dividends, distributions and repayments of loans and advances are recorded as adjustments to investment balances. The Company evaluates its equity method investments for impairment whenever events or changes in circumstances indicate that the carrying amounts of such investments may not be recoverable. (See "Asset Impairment Analysis" below.) | |
Investments in entities or other securities in which the Company has no control or significant influence and is not the primary beneficiary are accounted for at fair value or cost. Investments in equity securities with readily determinable fair values are accounted for at fair value, based on quoted market prices, and classified as either trading securities or available-for-sale securities. For investments classified as trading securities, which include securities held in a separate trust in connection with the Company’s deferred compensation plan, unrealized and realized gains and losses related to the investment and corresponding liability are recorded in earnings as a component of other (expense) income, net on the consolidated statements of operations. For investments classified as available-for-sale securities, which include investments in mutual funds, unrealized gains and losses are recorded net of income taxes in other comprehensive (loss) income until the security is sold or considered impaired. If declines in the value of available-for-sale securities are determined to be other than temporary, a loss is recorded in earnings in the current period as a component of other (expense) income, net on the consolidated statements of operations. Impairments are determined based on, among other factors, the length of time the fair value of the investment has been less than the carrying value, future business prospects for the investee, and information regarding market and industry trends for the investee’s business, if available. For purposes of computing realized gains and losses, the Company determines cost on a specific identification basis. Cost method investments are recorded at the lower of cost or fair value. If declines in the value of cost method investments are determined to be other than temporary, a loss is recorded in earnings in the current period as a component of other (expense) income, net on the consolidated statements of operations. | |
Foreign Currency | |
The reporting currency of the Company is the U.S. dollar. The functional currency of most of the Company’s international subsidiaries is the local currency. Assets and liabilities, including inter-company balances for which settlement is anticipated in the foreseeable future, denominated in foreign currencies are translated at exchange rates in effect at the balance sheet date. Foreign currency equity balances are translated at historical rates. Revenues and expenses denominated in foreign currencies are translated at average exchange rates for the respective periods. Foreign currency translation adjustments are recorded in accumulated other comprehensive income. | |
Transactions denominated in currencies other than subsidiaries’ functional currencies are recorded based on exchange rates at the time such transactions arise. Changes in exchange rates with respect to amounts recorded in the consolidated balance sheets related to these items will result in unrealized foreign currency transaction gains and losses based upon period-end exchange rates. The Company also records realized foreign currency transaction gains and losses upon settlement of the transactions. Foreign currency transaction gains and losses are included in other (expense) income, net and totaled a loss of $22 million, a gain of $23 million, and a loss of $4 million for 2014, 2013 and 2012, respectively. | |
With the exception of certain material transactions, the cash flows from the Company's operations in foreign countries are translated at the weighted average rate for the applicable period in the consolidated statements of cash flows. The impacts of material transactions generally are recorded at the applicable spot rates in the consolidated statements of operations and cash flows. The effects of exchange rates on cash balances held in foreign currencies are separately reported in the Company's consolidated statements of cash flows. | |
Cash and Cash Equivalents | |
Cash and cash equivalents include cash on hand and highly liquid investments with original maturities of ninety days or less. | |
Receivables | |
Receivables include amounts billed and currently due from customers and are presented net of an estimate for uncollectible accounts. The Company evaluates outstanding receivables to assess collectability. In performing this evaluation, the Company analyzes market trends, economic conditions, the aging of receivables and customer specific risks. Using this information, the Company reserves an amount that it estimates may not be collected. The Company does not require collateral with respect to trade receivables. | |
Content Rights | |
Content rights principally consist of television series, specials and sporting events. Content aired on the Company’s television networks is sourced from a wide range of third-party producers, wholly owned and equity method investee production studios and sports associations. Content is classified either as produced, coproduced or licensed. The Company owns most or all of the rights to produced content. The Company collaborates with third parties to finance and develop coproduced content, and it retains significant rights to exploit the programs. Licensed content is comprised of films or series that have been previously produced by third parties and the Company retains limited airing rights over a contractual term. Prepaid licensed content also includes advance payments for rights to air sporting events that will take place in the future. | |
Costs of produced and coproduced content consist of development costs, acquired production costs, direct production costs, certain production overhead costs and participation costs. Costs incurred for produced and coproduced content are capitalized if the Company has previously generated revenues from similar content in established markets and the content will be used and revenues will be generated for a period of at least one year. The Company’s coproduction arrangements generally provide for the sharing of production cost. The Company records its costs, but does not record the costs borne by the other party as the Company does not share any associated economics of exploitation. Program licenses typically have fixed terms and require payments during the term of the license. The cost of licensed content is capitalized when the programs are delivered or the Company has paid for the programs. The Company pays in advance of delivery for television series, specials, films and sports rights. Payments made in advance of the season are recognized as in-production produced or coproduced content or prepaid licensed content. Content distribution, advertising, marketing, general and administrative costs are expensed as incurred. | |
Content amortization expense for each period is recognized based on the revenue forecast model, which approximates the proportion that estimated distribution and advertising revenues for the current period represent in relation to the estimated remaining total lifetime revenues. The Company annually, or on an as needed basis, prepares analyses to support its content amortization expense by network and by region. Critical assumptions used in determining content amortization include: 1) the application of a quantitative revenue forecast model based the adequacy of a network's historical data, 2) determining the appropriate historical periods to utilize and the relative weighting of those historical periods in the revenue forecast model, and 3) assessing the accuracy of the Company's revenue forecasts. The Company then considers the appropriate application of the quantitative assessment given forecasted content use, expected content investment and market trends. Content use and future revenues may differ from estimates based on changes in expectations related to market acceptance, network affiliate fee rates, advertising demand, the number of cable and satellite television subscribers receiving the Company’s networks, and program usage. Accordingly, the Company continually reviews revenue estimates and planned usage and revises its assumptions if necessary. As part of the Company's annual assessment of the revenue forecast model, the Company compares the calculated amortization rates to those that have been utilized during the year. If the calculated rates do not deviate materially from the applied amortization rates, no adjustment is recorded for the current year amortization expense. The Company allocates the cost of multi-year sports programming arrangements over the contract period to each season based on the estimated relative value of each season using the revenue-forecast model. If planned usage patterns of content or estimated relative values of a sports season were to change significantly, content amortization expense may be accelerated. | |
The result of the revenue forecast model is either an accelerated method or a straight-line amortization method over the estimated useful lives of up to five years for produced, coproduced and licensed content. Amortization of capitalized costs for produced and coproduced content begins when a program has been aired. Amortization of capitalized costs for licensed content commences when the license period begins and the program is available for use. Expense for sports rights takes place when the content airs. | |
Capitalized content costs are stated at the lower of cost less accumulated amortization or net realizable value. The Company periodically evaluates the net realizable value of content by considering expected future revenue generation. Estimates of future revenues consider historical airing patterns and future plans for airing content, including any changes in strategy. Given the significant estimates and judgments involved, actual demand or market conditions may be less favorable than those projected, requiring a write-down to net realizable value. Development costs for programs that the Company has determined will not be produced, are fully expensed in the period the determination is made. | |
All produced and coproduced content is classified as long-term. The portion of the unamortized licensed content balance that will be amortized within one year is classified as a current asset. | |
Property and Equipment | |
Property and equipment are stated at cost less accumulated depreciation and impairments. The cost of property and equipment acquired under capital lease arrangements represents the lesser of the present value of the minimum lease payments or the fair value of the leased asset as of the inception of the lease. The Company leases fixed assets and software. Substantially all capitalized software costs are for internal use. Capitalization of software costs occurs during the application development stage. Software costs incurred during the preliminary project and post implementation stages are expensed as incurred. Repairs and maintenance expenditures that do not enhance the use or extend the life of property and equipment are expensed as incurred. | |
Depreciation for most property and equipment is recognized using the straight-line method over the estimated useful lives of the assets, which is 15 to 39 years for buildings, three to five years for broadcast equipment, two to five years for capitalized software costs and three to five years for office equipment, furniture, fixtures and other property and equipment. Assets acquired under capital lease arrangements and leasehold improvements are amortized using the straight-line method over the lesser of the estimated useful lives of the assets or the terms of the related leases, which is one to 15 years. Depreciation commences when property or equipment is ready for its intended use. | |
Asset Impairment Analysis | |
Goodwill and Indefinite-lived Intangible Assets | |
Goodwill is allocated to the Company's reporting units, which are its operating segments or one level below its operating segments. The Company evaluates goodwill and other indefinite-lived intangible assets for impairment annually as of November 30 and earlier upon the occurrence of substantive changes in circumstances, such as a significant deterioration in economic conditions, industry changes, increases in costs, declining cash flows, or a significant, ongoing decline in market capitalization. If the Company believes that as a result of its qualitative assessment it is more likely than not that the fair value of a reporting unit or other indefinite-lived intangible asset is greater than its carrying amount, the quantitative impairment test is not required. | |
Following a qualitative assessment indicating that it is not more likely than not that the fair value of the reporting unit exceeds its carrying amount, goodwill impairment is determined using a two-step quantitative process. The first step of the process is to compare the fair value of a reporting unit with its carrying amount, including goodwill. In performing the first step, the Company determines the fair value of a reporting unit by using a combination of a discounted cash flow (“DCF”) analysis and, if possible, market-based valuation methodologies. Determining fair value requires the Company to make judgments about appropriate discount rates, perpetual growth rates, relevant comparable company earnings multiples and the amount and timing of expected future cash flows. The cash flows employed in the DCF analysis are based on the Company’s budget, long-term business plan, and recent operating performance. Discount rate assumptions are based on an assessment of the risk inherent in future cash flows of the respective reporting unit and market conditions. In assessing the reasonableness of its determined fair values, the Company may also evaluate its results against other value indicators, such as comparable company public trading values, research analyst estimates and values observed in market transactions. | |
If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not impaired and the second step of the quantitative impairment test is not necessary. If the carrying amount of a reporting unit exceeds its fair value, the second step of the quantitative goodwill impairment test is required to be performed to measure the amount of impairment loss, if any. The second step of the quantitative goodwill impairment test compares the implied fair value of the reporting unit’s goodwill with the carrying amount of that goodwill. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination. In other words, the estimated fair value of the reporting unit’s identifiable net assets excluding goodwill is compared to the fair value of the reporting unit as if the reporting unit had been acquired in a business combination and the fair value of the reporting unit was the purchase price paid. If the carrying amount of the reporting unit’s goodwill exceeds the implied fair value of that goodwill, an impairment loss is recognized in an amount equal to that excess. | |
Following a qualitative assessment indicating that it is not more likely than not that the fair value of the indefinite lived intangible asset exceeds its carrying amount, impairment of other intangible assets not subject to amortization involves a comparison of the estimated fair value of the intangible asset with its carrying value. If the carrying value of the intangible asset exceeds its fair value, an impairment loss is recognized in an amount equal to that excess. The estimates of fair value of intangible assets not subject to amortization are determined using a DCF valuation analysis, a market-based valuation analysis, or both. Determining fair value requires the exercise of judgment about appropriate discount rates, perpetual growth rates and the amount and timing of expected future cash flows. | |
Long-lived Assets | |
Long-lived assets such as amortizing trademarks, customer lists, other intangible assets, and property and equipment are not required to be tested for impairment annually. Instead, long-lived assets are tested for impairment whenever circumstances indicate that the carrying amount of the asset may not be recoverable, such as when the disposal of such assets is likely or there is an adverse change in the market involving the business employing the related assets. If an impairment analysis is required, the impairment test employed is based on whether the Company’s intent is to hold the asset for continued use or to hold the asset for sale. If the intent is to hold the asset for continued use, the impairment test first requires a comparison of undiscounted future cash flows to the carrying value of the asset. If the carrying value of the asset exceeds the undiscounted cash flows, the asset would not be deemed to be recoverable. Impairment would then be measured as the excess of the asset’s carrying value over its fair value. Fair value is typically determined by discounting the future cash flows associated with that asset. If the intent is to hold the asset for sale and certain other criteria are met, the impairment test involves comparing the asset’s carrying value to its fair value less costs to sell. To the extent the carrying value is greater than the asset’s fair value less costs to sell, an impairment loss is recognized in an amount equal to the difference. Significant judgments used for long-lived asset impairment assessments include determining whether events or circumstances indicate that the carrying amount of the asset may not be recoverable, determining the future cash flows for the assets involved and determining the proper discount rate to be applied in determining fair value. | |
Equity Method Investments | |
Equity method investments are reviewed for indicators of other-than-temporary impairment on a quarterly basis. An equity method investment is written down to fair value if there is evidence of a loss in value which is other than temporary. The Company may estimate the fair value of its equity method investments by considering recent investee equity transactions, discounted cash flow analysis, recent operating results, comparable public company operating cash flow multiples and in certain situations, balance sheet liquidation values. If the fair value of the investment has dropped below the carrying amount, management considers several factors when determining whether an other-than-temporary decline has occurred, such as: the length of the time and the extent to which the estimated fair value or market value has been below the carrying value, the financial condition and the near-term prospects of the investee, the intent and ability of the Company to retain its investment in the investee for a period of time sufficient to allow for any anticipated recovery in market value and general market conditions. The estimation of fair value and whether an other-than temporary impairment has occurred requires the application of significant judgment and future results may vary from current assumptions. (See Note 4.) | |
Derivative Instruments | |
The Company uses derivative financial instruments from time to time to modify its exposure to market risks from changes in interest rates and foreign exchange rates. The Company may designate derivative instruments as cash flow hedges or fair value hedges, as appropriate. The Company records all derivative instruments at fair value on a gross basis. For those derivative instruments designated as cash flow hedges that qualify for hedge accounting, gains or losses on the effective portion of derivative instruments are initially recorded in accumulated other comprehensive income on the consolidated balance sheets and reclassified to the same account on the consolidated statements of operations in which the hedged item is recognized on the consolidated statements of operations. The Company may also enter into derivative instruments that are not designated as hedges and do not qualify for hedge accounting. These contracts are intended to mitigate economic exposures of the Company. The changes in fair value of derivatives not designated as hedges and the ineffective portion of derivatives designated as hedging instruments are immediately recorded in other (expense) income, net. | |
Treasury Stock | |
When stock is acquired for purposes other than formal or constructive retirement, the purchase price of the acquired stock is recorded in a separate treasury stock account, which is separately reported as a reduction of equity. | |
When stock is retired or purchased for constructive retirement, the purchase price is initially recorded as a reduction to the par value of the shares repurchased, with any excess purchase price over par value recorded as a reduction to additional paid-in capital related to the series of shares repurchased and any remainder excess purchase price recorded as a reduction to retained earnings. If the purchase price exceeds the amounts allocated to par value and additional paid-in capital related to the series of shares repurchased and retained earnings, the remainder is allocated to additional paid-in capital related to other series of shares. | |
Revenue Recognition | |
The Company generates revenues principally from (i) fees charged to distributors of its network content, which include cable, direct-to-home ("DTH") satellite, telecommunications and digital service providers, (ii) advertising sold on its television networks and websites, (iii) transactions for curriculum-based products and services, (iv) production studios content development and services, (v) affiliate and advertising sales representation services and (vi) the licensing of the Company's brands for consumer products. | |
Revenue is recognized when persuasive evidence of a sales arrangement exists, services are rendered or delivery occurs, the sales price is fixed or determinable and collectability is reasonably assured. Revenues do not include taxes collected from customers on behalf of taxing authorities such as sales tax and value-added tax. However, certain revenues include taxes that customers pay to taxing authorities on the Company’s behalf, such as foreign withholding tax. Revenue recognition for each source of revenue is also based on the following policies. | |
Distribution | |
Cable operators, DTH satellite and telecommunications service providers typically pay a per-subscriber fee for the right to distribute the Company’s programming under the terms of distribution contracts. The majority of the Company’s distribution fees are collected monthly throughout the year. Distribution revenues from cable operators and DTH service providers are recognized over the term of the contracts based on contracted programming rates and reported subscriber levels. The amount of distribution fees due to the Company are reported by distributors based on actual subscriber levels. Such information is generally not received until after the close of the reporting period. In these cases, the Company estimates the number of subscribers receiving the Company’s programming. Historical adjustments to recorded estimates have not been material. | |
Distribution revenues are recognized net of incentives the Company provides to operators in exchange for carrying its networks. Incentives include cash payments to operators (“launch incentives”). Launch incentives are capitalized as assets upon launch of the Company’s network by the operator and are amortized on a straight-line basis as a reduction of revenue over the term of the contract, including free periods. In instances where the distribution agreement is extended prior to the expiration of the original term, the Company evaluates the economics of the extended term and, if it is determined that the launch asset continues to benefit the Company over the extended term, then the Company will adjust the amortization period of the remaining launch incentives accordingly. Other incentives are recognized as a reduction of revenue as incurred. Amortization of launch incentives was $11 million, $18 million and $20 million for 2014, 2013 and 2012, respectively. | |
Revenues associated with digital distribution arrangements are recognized when the Company transfers control of the content and the rights to distribute the content to the customer. If multiple programs are included in the arrangement, the Company allocates the fee to each program based on its relative fair value. | |
Advertising | |
Advertising revenues are principally generated from the sale of bundled commercial time on television networks and websites. Advertising revenues are recognized net of agency commissions in the period advertising spots are aired. A substantial portion of the advertising contracts in the U.S. guarantee the advertiser a minimum audience level that either the program in which their advertisements are aired or the advertisement will reach. Revenues are recognized for the actual audience level delivered. The Company provides the advertiser with additional advertising spots in future periods if the guaranteed audience level is not delivered. Revenues are deferred for any shortfall in the guaranteed audience level until the guaranteed audience level is delivered or the rights associated with the guarantee lapse. Audience guarantees are initially developed internally based on planned programming, historical audience levels, the success of pilot programs, and market trends. In the U.S., actual audience and delivery information is published by independent ratings services. In certain instances, the independent ratings information is not received until after the close of the reporting period. In these cases, reported advertising revenue and related deferred revenue are based upon the Company’s estimates of the audience level delivered. Historical adjustments to recorded estimates have not been material. | |
Advertising revenues from online properties are recognized as impressions are delivered or the services are performed. | |
Other | |
Revenue for curriculum-based services is recognized ratably over the contract term. Royalties from brand licensing arrangements are earned as products are sold by the licensee. Revenue from the production studios segment is recognized when the content is delivered and available for airing by the customer. | |
Deferred Revenue | |
Deferred revenue primarily consists of cash received for television advertising for which the advertising spots have not yet fully delivered the ratings guaranteed, product licensing arrangements and advanced billings to subscribers for access to the Company’s curriculum-based streaming services. The amounts classified as current are expected to be earned within the next year. | |
Equity-Based Compensation Expense | |
The Company has incentive plans under which unit awards, stock appreciation rights (“SARs”), performance based restricted stock units (“PRSUs”), service based restricted stock units (“RSUs”) and stock options are issued. | |
The Company measures the cost of employee services received in exchange for SARs and unit awards based on the fair value of the award less estimated forfeitures. Because certain SARs and all unit awards are cash-settled, the Company remeasures the fair value of these awards each reporting period until settlement. Compensation expense, including changes in fair value, for SARs and unit awards is recognized during the vesting period in proportion to the requisite service that has been rendered as of the reporting date. For awards with graded vesting, the Company measures fair value and records compensation expense separately for each vesting tranche. | |
Compensation expense for stock options is measured based on the fair value on the date of grant less estimated forfeitures. Compensation expense for stock options is recognized ratably during the vesting period. | |
The fair values of SARs, unit awards and stock options are estimated using the Black-Scholes option-pricing model. Because the Black-Scholes option-pricing model requires the use of subjective assumptions, changes in these assumptions can materially affect the fair value of awards. For SARs and unit awards the expected term is the period from the grant date to the end of the contractual term of the award unless the terms of the award allow for cash-settlement automatically on the date the awards vest, in which case the vesting date is used. For stock options, the expected term is determined using the simplified method that considers the period from the date of grant through the mid-point between the vesting date and the end of the contractual term of the award. Expected volatility is based on a combination of implied volatilities from traded options on the Company’s common stock and historical realized volatility of the Company’s common stock. The dividend yield is assumed to be zero because the Company has no history of paying cash dividends and no present intention to pay dividends. The risk-free interest rate is based on U.S. Treasury zero-coupon issues with a remaining term equal to the expected term of the award. | |
Vesting for certain PRSUs is subject to satisfying objective operating performance conditions, while vesting for other PRSUs is based on the achievement of a combination of objective and subjective operating performance conditions. Compensation expense for PRSUs that vest based on achieving objective operating performance conditions is measured based on the fair value of the Company’s Series A common stock on the date of grant less estimated forfeitures. Compensation expense for PRSUs that vest based on achieving subjective operating performance conditions is remeasured at fair value of the Company’s Series A and Series C common stock as applicable less estimated forfeitures each reporting period until the date of vesting. Compensation expense for all PRSUs is recognized ratably, following a graded vesting pattern during the vesting period only when it is probable that the operating performance conditions will be achieved. The Company records a cumulative adjustment to compensation expense for PRSUs if there is a change in the determination of whether or not it is probable the operating performance conditions will be achieved. | |
The Company measures the cost of employee services received in exchange for RSUs based on the fair value of the Company’s Series A common stock on the date of grant less estimated forfeitures. Compensation expense for RSUs is recognized ratably during the vesting period. | |
When recording compensation cost for equity-based awards, the Company is required to estimate the number of awards granted that are expected to be forfeited. In estimating forfeitures, the Company considers historical and expected forfeiture rates and anticipated events. On an ongoing basis, the Company adjusts compensation expense based on actual forfeitures and revises the forfeiture rate as necessary. | |
The Employee Stock Purchase Plan (the “DESPP”) enables eligible employees to purchase shares of the Company’s common stock through payroll deductions or other permitted means. The Company recognizes the fair value of the discount associated with shares purchased under the plan as equity-based compensation expense. | |
Equity-based compensation expense is recorded as a component of selling, general and administrative expense. The Company classifies the intrinsic value of SARs and unit awards that are vested or will become vested within one year as a current liability. | |
Excess tax benefits realized from the exercise of stock options and vested RSUs, PRSUs and the DESPP are reported as cash inflows from financing activities rather than as a reduction of taxes paid in cash flows from operating activities on the consolidated statements of cash flows. | |
Advertising Costs | |
Advertising costs are expensed as promotional services are delivered. Advertising costs paid to third parties totaled $145 million, $156 million and $124 million for 2014, 2013 and 2012, respectively. | |
Income Taxes | |
Income taxes are recorded using the asset and liability method of accounting for income taxes. Deferred income taxes reflect the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Deferred taxes are measured using rates the Company expects to apply to taxable income in years in which those temporary differences are expected to reverse. A valuation allowance is provided for deferred tax assets if it is more likely than not such assets will be unrealized. | |
From time to time, the Company engages in transactions in which the tax consequences may be uncertain. Significant judgment is required in assessing and estimating the tax consequences of these transactions. The Company prepares and files tax returns based on its interpretation of tax laws and regulations. In the normal course of business, the Company's tax returns are subject to examination by various taxing authorities. Such examinations may result in future tax and interest assessments by these taxing authorities. | |
In determining the Company's tax provision for financial reporting purposes, the Company establishes a reserve for uncertain tax positions unless the Company determines that such positions are more likely than not to be sustained upon examination based on their technical merits, including the resolution of any appeals or litigations processes. There is considerable judgment involved in determining whether positions taken on the Company's tax returns are more likely than not to be sustained. The Company adjusts its tax reserve estimates periodically because of ongoing examinations by, and settlements with, various taxing authorities, as well as changes in tax laws, regulations and interpretations. | |
Concentrations Risk | |
Customers | |
The Company has long-term contracts with distributors around the world, including the largest distributors in the U.S. and major international distributors. In the U.S., approximately 90% of distribution revenues come from the top 10 distributors. Outside of the U.S., approximately 45% of distribution revenue comes from the top 10 distributors. Agreements in place with the major cable and satellite operators in the U.S. expire at various times beginning in 2015 through 2021. Failure to secure a renewal or a renewal on less favorable terms may have a material adverse effect on the Company’s financial condition and results of operations. Not only could the Company experience a reduction in distribution revenue, but it could also experience a reduction in advertising revenue which is impacted by affiliate subscriber levels and viewership. | |
No individual customer accounted for more than 10% of total consolidated revenues for 2014, 2013 and 2012. As of December 31, 2014 and 2013, the Company’s trade receivables do not represent a significant concentration of credit risk as the customers and markets in which the Company operates are varied and dispersed across many geographic areas. | |
Financial Institutions | |
Cash and cash equivalents are maintained with several financial institutions. The Company has deposits held with banks that exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions of reputable credit and, therefore, bear minimal credit risk. | |
Lender Counterparties | |
There is a risk that the counterparties associated with the Company’s revolving credit facility will not be available to fund as obligated under the terms of the facility. If funding under the revolving credit facility is unavailable, the Company may have to acquire a replacement credit facility from different counterparties at a higher cost or may be unable to find a suitable replacement and may have limited or no access to the commercial paper market. Typically, the Company seeks to manage these exposures by contracting with experienced large financial institutions and monitoring the credit quality of its lenders. As of December 31, 2014, the Company did not anticipate nonperformance by any of its counterparties. |
Acquisitions_And_Dispositions
Acquisitions And Dispositions | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Business Combinations [Abstract] | |||||||||||||
Acquisitions And Dispositions | ACQUISITIONS AND DISPOSITIONS | ||||||||||||
Acquisitions | |||||||||||||
Discovery Family (formerly known as the Hub Network) | |||||||||||||
On September 23, 2014, the Company acquired an additional 10% ownership interest in Discovery Family from Hasbro, Inc. ("Hasbro") for $64 million and obtained financial operating control of the joint venture. Discovery Family is a pay television network in the U.S. that provides entertainment for children and families. The purchase increased the Company's ownership interest from 50% to 60%. As a result, the Company changed its accounting for Discovery Family from an equity method investment to a consolidated subsidiary. There was no gain or loss recorded at the time of acquisition as the fair value was equal to the carrying amount of the Company's previously held equity interest in Discovery Family as of the acquisition date. The acquisition of Discovery Family supports the Company's strategic priority of broadening the scope of the network to increase viewership. The network rebrand to Discovery Family occurred on October 13, 2014. | |||||||||||||
The Company used DCF analyses, which represent Level 3 fair value measurements, to assess certain components of its purchase price allocation. The fair value of the assets acquired, liabilities assumed and noncontrolling interest recognized is presented in the table below (in millions). | |||||||||||||
23-Sep-14 | |||||||||||||
Goodwill | $ | 310 | |||||||||||
Intangible assets | 301 | ||||||||||||
Other assets acquired | 96 | ||||||||||||
Cash | 33 | ||||||||||||
Liabilities assumed | (125 | ) | |||||||||||
Redeemable noncontrolling interest | (238 | ) | |||||||||||
Carrying value of previously held equity interest | (313 | ) | |||||||||||
Net assets acquired | $ | 64 | |||||||||||
Hasbro has the right to put the entirety of its remaining 40% non-controlling interest to the Company for one year after December 31, 2021, or if Discovery does not meet a performance obligation related to the network. As Hasbro's put right is outside the control of the Company, Hasbro's 40% noncontrolling interest is presented as redeemable noncontrolling interest outside of permanent equity on the Company's consolidated balance sheet (see Note 12). Embedded in the redeemable noncontrolling interest is the value of a Discovery call right exercisable for one year after December 31, 2021. Upon the exercise of the put or call options, the price to be paid for the interest being purchased is generally a function of the then fair market value of the interest, to which certain discounts and floor values may apply in specified situations, depending upon the party exercising the put or call, the basis for the exercise of the put or call, and the determined fair market value of the network at the time of exercise. | |||||||||||||
The goodwill reflects the workforce and synergies expected from combining the operations of Discovery Family with the Company's existing U.S. Networks. The goodwill recorded as part of this acquisition will be assigned to the U.S. Networks reporting unit. It is not amortizable for tax purposes. Intangible assets primarily consist of distribution customer relationships with an estimated useful life of 25 years, based on three renewals and a contractual renewal term of 8 years. | |||||||||||||
Eurosport | |||||||||||||
On May 30, 2014, the Company acquired from TF1 a controlling interest in Eurosport International ("Eurosport"), a leading pan-European sports media platform, by increasing Discovery’s ownership stake from 20% to 51% for cash of approximately €259 million ($351 million) and recognized a gain of $29 million to account for the difference between the carrying value and the fair value of the previously held 20% equity interest. The gain is included in other (expense) income, net in the Company's consolidated statements of operations (see Note 19). Due to regulatory constraints, the acquisition initially excludes Eurosport France, formerly a subsidiary of Eurosport. The Company has retained a 20% equity interest in Eurosport France with a conditional commitment to acquire another 31% ownership interest beginning in 2015 for approximately €35 million ($48 million), contingent upon resolution of all regulatory matters. The flagship Eurosport network focuses on regionally popular sports, such as tennis, skiing, cycling and motor sports. Eurosport’s brands and platforms also include Eurosport HD (high definition simulcast), Eurosport 2, Eurosport 2 HD (high definition simulcast), Eurosport Asia-Pacific, and Eurosportnews. The acquisition is intended to increase the growth of Eurosport and enhance the Company's pay television offerings in Europe. Eurosport is a component of the Company's International Networks segment. | |||||||||||||
The Company used DCF analyses, which represent Level 3 fair value measurements, to assess certain components of its purchase price allocation. The fair value of the assets acquired, liabilities assumed, noncontrolling interest recognized and the remeasurement gain recorded on the previously held equity interest is presented in the table below (in millions). | |||||||||||||
May 30, 2014 | |||||||||||||
Goodwill | $ | 785 | |||||||||||
Intangible assets | 467 | ||||||||||||
Other assets acquired | 169 | ||||||||||||
Cash | 47 | ||||||||||||
Removal of TF1 put right | 27 | ||||||||||||
Currency translation adjustment | 7 | ||||||||||||
Remeasurement gain on previously held equity interest | (29 | ) | |||||||||||
Liabilities assumed | (169 | ) | |||||||||||
Deferred tax liabilities | (164 | ) | |||||||||||
Redeemable noncontrolling interest | (558 | ) | |||||||||||
Carrying value of previously held equity interest | (231 | ) | |||||||||||
Net assets acquired | $ | 351 | |||||||||||
TF1 has the right to put the entirety of its remaining 49% non-controlling interest to the Company during two 90-day windows in the two and a half years after May 30, 2014. If the put right is exercised during the first 90-day window beginning July 1, 2015, it has a floor value equal to the fair value per share of Eurosport on May 30, 2014. If the put right is exercised during the second 90-day window beginning July 1, 2016, it will be priced at the then-current fair value per share of Eurosport, or as may be agreed between the Company and TF1. As TF1's put right is outside the control of the Company, TF1's 49% noncontrolling interest is presented as redeemable noncontrolling interest outside of permanent equity on the Company's consolidated balance sheet (see Note 12). | |||||||||||||
The goodwill reflects the workforce and synergies expected from increased pan-European market penetration as the operations of Eurosport and the Company are combined. The goodwill recorded as part of this acquisition will be assigned to the Eurosport reporting unit. The goodwill recorded as part of this acquisition is not amortizable for tax purposes. Intangible assets primarily consist of distribution and advertising customer relationships, advertiser backlog and trademarks with a weighted average estimated useful life of 10 years. | |||||||||||||
SBS Nordic | |||||||||||||
On April 9, 2013, the Company acquired the Nordic general entertainment television and radio business operations ("SBS Nordic") of Prosiebensat.1 Media AG for cash of approximately €1.4 billion ($1.8 billion) including closing purchase price adjustments. SBS Nordic has operations in Sweden, Norway, Denmark, Finland and England. The acquisition of SBS Nordic supports the Company’s strategic priority of increasing its presence in key international markets and is a component of the Company's International Networks segment. | |||||||||||||
The Company used DCF analyses, which represent Level 3 fair value measurements, to assess the components of its purchase price allocation. The table below presents the fair value allocation of the purchase price to the assets and liabilities acquired (in millions). | |||||||||||||
9-Apr-13 | |||||||||||||
Goodwill | $ | 779 | |||||||||||
Intangible assets | 1,001 | ||||||||||||
Content | 248 | ||||||||||||
Other assets acquired | 212 | ||||||||||||
Cash | 106 | ||||||||||||
Liabilities assumed | (278 | ) | |||||||||||
Deferred tax liabilities | (243 | ) | |||||||||||
Redeemable noncontrolling interest | (6 | ) | |||||||||||
Net assets acquired | $ | 1,819 | |||||||||||
The goodwill reflects the workforce, synergies expected from combining the operations of SBS Nordic and the Company and the pricing benefits of increased Nordic region market penetration. The goodwill recorded as part of this acquisition is included in the International Networks reportable segment and is not amortizable for tax purposes. Intangible assets primarily consist of broadcast licenses, distribution and advertising customer relationships, advertiser backlog and trademarks with a weighted average estimated useful life of 8 years. | |||||||||||||
Discovery Japan | |||||||||||||
On January 10, 2013, the Company purchased an additional 30% of Discovery Japan for $53 million. Discovery Japan operates Discovery Channel and Animal Planet in Japan. As of December 31, 2013, Discovery and Jupiter Telecommunications Co., Ltd ("J:COM") each owned a 50% interest in Discovery Japan, and Discovery accounted for its 50% interest using the equity method of accounting. Discovery consolidated Discovery Japan on January 10, 2013 and recognized a gain of $92 million to account for the difference between the carrying value and the fair value of the previously held 50% equity interest. The gain is included in other (expense) income, net in the Company's consolidated statements of operations (see Note 19). | |||||||||||||
The Company used a combination of a DCF analysis and market-based valuation methodology, which represent Level 3 | |||||||||||||
fair value measurements, to measure the fair value of Discovery Japan and to perform its purchase price allocation. The table | |||||||||||||
below presents the allocation of the purchase price to the assets acquired, liabilities assumed, redeemable noncontrolling interest recognized and remeasurement gain recorded on consolidation of previously held equity interest (in millions). | |||||||||||||
10-Jan-13 | |||||||||||||
Goodwill | $ | 103 | |||||||||||
Intangible assets | 100 | ||||||||||||
Other assets acquired | 25 | ||||||||||||
Currency translation adjustment | 6 | ||||||||||||
Cash | 4 | ||||||||||||
Remeasurement gain on previously held equity interest | (92 | ) | |||||||||||
Liabilities assumed | (55 | ) | |||||||||||
Redeemable noncontrolling interest | (35 | ) | |||||||||||
Carrying value of previously held equity interest | (3 | ) | |||||||||||
Net assets acquired | $ | 53 | |||||||||||
The terms of the agreement provide J:COM with a right to put its 20% noncontrolling interest to Discovery for cash at any time and Discovery with the right to call J:COM's 20% noncontrolling interest beginning January 2018. As J:COM's put right is outside the control of the Company, J:COM's 20% noncontrolling interest is presented as redeemable noncontrolling interest outside of stockholders' equity on the Company's consolidated balance sheet (see Note 12). | |||||||||||||
The goodwill reflects the synergies and increased flexibility expected from controlling the operations of Discovery Japan and is included in the International Networks segment. The goodwill recorded as part of this acquisition is included in the International Networks reportable segment and is not amortizable for tax purposes. Intangible assets are primarily distribution customer relationships with a useful life of 20 years. | |||||||||||||
Other | |||||||||||||
In 2014 the Company acquired several other unrelated businesses for total consideration of $40 million, net of cash acquired. Total consideration, net of cash acquired includes $2 million of consideration not yet paid. The Company recorded $37 million and $10 million of goodwill and intangible assets, respectively, in connection with these acquisitions. The acquisitions included a factual entertainment production studio in the U.K. and cable networks in New Zealand. The goodwill reflects the synergies and market expansion expected from combining the operations of these acquisitions with the Company. | |||||||||||||
In 2013, the Company acquired several other unrelated businesses for total consideration of $88 million, net of cash acquired. Total consideration, net of cash acquired includes $2 million consideration that was paid in 2014. The Company recorded $67 million and $24 million of goodwill and intangible assets, respectively, in connection with these acquisitions. The acquisitions included a television station in Sweden and an education business in the U.K. The goodwill reflects the synergies and market expansion expected from combining the operations of these acquisitions with the Company. | |||||||||||||
In 2012, the Company acquired businesses for total consideration of $173 million, net of cash acquired, including $15 million paid during the year ended December 31, 2013. The Company recorded $108 million and $70 million of goodwill and intangible assets, respectively, in connection with these acquisitions. The acquisitions included Switchover Media, a group of five Italian television channels with children's and entertainment programming, a digital media company in the U.S., a television station in Dubai, and certain affiliate agreements in Latin America. | |||||||||||||
Pro Forma Financial Information | |||||||||||||
The following table presents the unaudited pro forma results of the Company as though all of the business combinations discussed above for 2014 had been made on January 1, 2013, and for 2013 had been made on January 1, 2012. These pro forma results do not necessarily represent what would have occurred if all the business combinations had taken place on January 1, 2013 and 2012 as applicable, nor do they represent the results that may occur in the future. This pro forma financial information includes the historical financial statement amounts of Discovery and its business combinations with the following adjustments: 1) the Company converted historical financial statements to GAAP, 2) the Company applied its accounting policies, 3) the Company adjusted for amortization expense assuming the fair value adjustments to intangible assets had been applied beginning January 1, 2013 and 2012, as applicable, 4) the Company removed content impairments resulting from the consolidation and subsequent rebranding of Discovery Family from 2014 and reclassified them to 2013, 5) the Company removed the gains recognized upon the consolidation of previously held equity interests in 2014 and 2013 and reclassified them to 2013 and 2012 as applicable, 6) the Company removed losses on derivative instruments and other market value adjustments recognized in connection with business combinations and previously held equity interests and reclassified them to 2013 and 2012 as applicable, 7) the Company adjusted for transaction costs of $4 million and $3 million incurred in 2014 and 2013 and reclassified them to 2013 and 2012, respectively, as applicable, and 8) the Company included adjustments for income taxes associated with these pro forma adjustments. | |||||||||||||
The pro forma adjustments were based on available information and upon assumptions that the Company believes are reasonable to reflect the impact of these acquisitions on the Company's historical financial information on a supplemental pro forma basis (in millions). | |||||||||||||
Pro Forma | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Revenues | $ | 6,559 | $ | 6,413 | $ | 5,315 | |||||||
Net income | $ | 1,168 | $ | 1,084 | $ | 992 | |||||||
Consolidation of Business Combinations | |||||||||||||
The operations of each of the business combinations discussed above were included in the consolidated financial statements as of each of their respective acquisition dates. The following table presents the revenue and earnings of the business combinations as reported within the consolidated financial statements for the year ended December 31, 2014 and 2013 (in millions). Amounts for the year ended December 31, 2012 were immaterial. | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Revenues: | |||||||||||||
Distribution | $ | 449 | $ | 187 | |||||||||
Advertising | 687 | 460 | |||||||||||
Other | 117 | 19 | |||||||||||
Total revenues | $ | 1,253 | $ | 666 | |||||||||
Net income | $ | 85 | $ | — | |||||||||
Dispositions | |||||||||||||
HowStuffWorks, LLC | |||||||||||||
On May 30, 2014, Discovery sold HowStuffWorks, LLC ("HSW"), a commercial website which uses various media to explain complex concepts, terminology and mechanisms, to Blucora, Inc. (“Blucora”). Blucora paid Discovery $45 million, and Discovery recorded a pretax gain of $31 million upon completion of the sale. HSW was part of the U.S. Networks segment. | |||||||||||||
Petfinder | |||||||||||||
On July 15, 2013, the Company sold the domain name and business operations of the Petfinder.com website ("Petfinder"). The sale of Petfinder resulted in a $19 million pretax gain, which has been reflected in gain on disposition in the consolidated statements of operations. Petfinder was part of the U.S. Networks segment. | |||||||||||||
Postproduction Audio Business | |||||||||||||
On September 17, 2012, the Company sold its postproduction audio business, CSS Studios, LLC. The results of which have been reflected in loss from discontinued operations, net of taxes, in the consolidated statements of operations. The postproduction audio business was an operating segment that did not meet the quantitative thresholds of a separate reportable segment and was combined with the Education segment, and presented as Education and Other. |
Variable_Interest_Entities
Variable Interest Entities | 12 Months Ended |
Dec. 31, 2014 | |
Equity Method Investments and Joint Ventures [Abstract] | |
Variable Interest Entities | VARIABLE INTEREST ENTITIES |
In the normal course of business, the Company makes investments that support its underlying business strategy and enable it to enter new markets and develop programming. In certain instances, an investment may be a VIE. (See Note 2.) The Company's investments in VIEs primarily consisted of equity method investments in OWN for all periods presented and Discovery Family prior to its acquisition on September 23, 2014. | |
The aggregate carrying values of these VIE equity method investments were $461 million and $789 million as of December 31, 2014 and 2013, respectively. The Company recognized its portion of net income and losses generated by VIEs of $45 million and $10 million in income and $92 million in losses for 2014, 2013 and 2012, respectively, in income (loss) from equity investees, net on the consolidated statements of operations. As of December 31, 2014, the Company’s estimated risk of loss for investment carrying values, unfunded contractual commitments and guarantees made on behalf of investments in VIEs was approximately $488 million. The Company's estimated risk of loss excludes any non-contractual future funding of OWN or other investments in VIEs. | |
OWN | |
OWN is a pay television network and website that provides adult lifestyle content, which is focused on self-discovery, self-improvement and entertainment. Since the initial equity was not sufficient to fund OWN's activities without additional subordinated financial support in the form of a note receivable held by the Company, OWN is a VIE. While the Company and Harpo, Inc. ("Harpo") are partners who share equally in voting control, power is not shared because Harpo holds operational rights related to programming and marketing, as well as selection and retention of key management personnel that significantly impact OWN’s economic performance. Accordingly, the Company has determined that it is not the primary beneficiary of OWN and accounts for its investment in OWN using the equity method. However, the Company provides OWN funding, content licenses, and services, such as distribution, sales and administrative support for a fee (see Note 20). | |
The Company’s combined advances to and note receivable from OWN, including accrued interest, were $457 million and $483 million as of December 31, 2014 and 2013, respectively. During 2014, the Company received net repayments of $59 million from OWN and recognized net interest earned and accrued on the note receivable of $33 million. During 2013, the Company received net repayments of $34 million from OWN and accrued interest on the note receivable of $35 million. The note receivable is secured by the net assets of OWN. While the Company has no further funding commitments, the Company will provide additional funding to OWN, if necessary, and expects to recoup amounts funded. The funding to OWN accrues interest at 7.5% compounded annually. There can be no event of default on the borrowing until 2023. However, borrowings are scheduled for repayment four years after the borrowing date to the extent that OWN has excess cash to repay the borrowings then due. Following such repayment, OWN’s subsequent cash distributions will be shared equally between the Company and Harpo. OWN began repaying amounts owed to the Company during 2013. | |
In accordance with the venture agreement, losses generated by OWN are generally allocated to both investors based on their proportionate ownership interests. However, the Company has recorded its portion of OWN’s losses based upon accounting policies for equity method investments. Prior to the contribution of the Discovery Health network to OWN at its launch, the Company had recognized $104 million or 100% of OWN’s net losses. During the three months ended March 31, 2012, accumulated operating losses at OWN exceeded the equity contributed to OWN, and Discovery began again to record 100% of OWN’s net losses. Although OWN has become profitable, the Company will continue to record 100% of OWN's results of operations as long as Discovery has provided all funding to OWN and OWN’s accumulated losses continue to exceed the equity contributed. All of OWN's future net income will initially be recorded by the Company until the Company recovers losses absorbed in excess of the Company's equity ownership interest. | |
The carrying value of the Company’s investment in OWN as of December 31, 2014 and 2013, is $424 million and $449 million, respectively, and includes the Company's note receivable and accumulated investment losses. There is a possibility that the results of OWN’s future operations will fall below the long-term projections. The Company monitors the financial results of OWN along with other relevant business information to assess the recoverability of the OWN note receivable. There has been no impairment of the OWN note receivable. | |
Harpo has the right to require the Company to purchase all or part of Harpo’s interest in OWN at fair market value up to a maximum put amount every two and a half years commencing January 1, 2016. The maximum put amount ranges from $100 million on the first put exercise date up to a cumulative cap of $400 million on the fourth put exercise date. The Company has not recorded amounts for the put right because the fair value of this put right was zero as of December 31, 2014 and 2013. | |
Discovery Family (formerly known as the Hub Network) | |
Prior to September 23, 2014, the Discovery Family joint venture was a VIE because the initial equity was not sufficient to fund its activities without additional subordinated financial support in the form of a funding commitment. Discovery and Hasbro shared equally in voting control and jointly consented to decisions about programming and marketing strategy and thereby jointly directed the activities of the joint venture that most significantly impacted its economic performance. Accordingly, the Company determined that it was not the primary beneficiary of the joint venture and accounted for its investment using the equity method. The carrying value of the Company's equity method investment in the joint venture was $312 million as of December 31, 2013. | |
On September 23, 2014, the Company acquired 10% of Hasbro’s ownership in Discovery Family for $64 million. This was a reconsideration event, requiring a reassessment of the joint venture's classification as a VIE. As of the reconsideration date, Discovery Family is not expected to require additional subordinated financial support to fund its ongoing activities. Accordingly, Discovery Family is no longer considered to be a VIE. Since the transaction provided Discovery with control over the voting rights and operating activities of Discovery Family, the Company consolidated it as of the acquisition date (see Note 3). |
Investments
Investments | 12 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
Investments [Abstract] | |||||||||||
Investments | INVESTMENTS | ||||||||||
The Company’s investments consisted of the following (in millions). | |||||||||||
December 31, | |||||||||||
Category | Balance Sheet Location | 2014 | 2013 | ||||||||
Trading securities: | |||||||||||
Mutual funds | Prepaid expenses and other current assets | $ | 147 | $ | 129 | ||||||
Available-for-sale securities: | |||||||||||
Common stock | Other noncurrent assets | — | 4 | ||||||||
Equity method investments | Equity method investments | 644 | 1,087 | ||||||||
Cost method investments | Other noncurrent assets | 29 | 34 | ||||||||
Total investments | $ | 820 | $ | 1,254 | |||||||
Trading Securities | |||||||||||
Trading securities include investments in mutual funds held in a separate trust, which are owned as part of the Company’s supplemental retirement plan. (See Note 15.) | |||||||||||
Equity Method Investments | |||||||||||
On September 23, 2014, the Company acquired a 50% equity method ownership interest in All3Media, a production studio company with an enterprise value of £556 million (approximately $912 million), for a cash payment of approximately £90 million ($147 million). All3Media recapitalized its debt structure to effect the transaction. | |||||||||||
On September 23, 2014, the Company acquired an additional 10% ownership interest in Discovery Family for $64 million and obtained a controlling financial interest. The purchase increased the Company's interest from 50% to 60%. As a result, the Company changed its accounting for Discovery Family from an equity method investment to a consolidated subsidiary (see Note 3 and Note 4). The carrying value of the previously held equity interest in the Discovery Family was $312 million at December 31, 2013. | |||||||||||
On May 30, 2014, the Company increased its ownership interest in Eurosport from 20% to 51% for cash of approximately €259 million ($351 million) and obtained a controlling financial interest. As a result, the Company changed its accounting for Eurosport from an equity method investment to a consolidated subsidiary. The carrying value of the previously held equity interest in Eurosport was $271 million at December 31, 2013. The acquisition excludes Eurosport France, a former consolidated subsidiary of Eurosport. The Company recorded an equity investment balance of $26 million for Eurosport France upon the acquisition date (see Note 3 and Note 6). | |||||||||||
Other equity method investments include ownership interests in unconsolidated ventures, mostly VIEs. All equity method investees are privately owned. The carrying values of the Company’s equity method investments are consistent with its ownership in the underlying net assets of the investees, except for OWN because the Company has recorded losses in excess of its ownership interest. (See Note 4.) |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||
Fair Value Measurements | FAIR VALUE MEASUREMENTS | ||||||||||||||||||
Fair value is defined as the amount that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants. Assets and liabilities carried at fair value are classified in the following three categories: | |||||||||||||||||||
Level 1 | – | Quoted prices for identical instruments in active markets. | |||||||||||||||||
Level 2 | – | Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. | |||||||||||||||||
Level 3 | – | Valuations derived from techniques in which one or more significant inputs are unobservable. | |||||||||||||||||
The table below presents assets and liabilities measured at fair value on a recurring basis (in millions). | |||||||||||||||||||
December 31, 2014 | |||||||||||||||||||
Category | Balance Sheet Location | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets: | |||||||||||||||||||
Trading securities: | |||||||||||||||||||
Mutual funds | Prepaid expenses and other current assets | $ | 147 | $ | — | $ | — | $ | 147 | ||||||||||
Derivatives: | |||||||||||||||||||
Foreign exchange | Prepaid expenses and other current assets | — | 17 | — | 17 | ||||||||||||||
Foreign exchange | Other noncurrent assets | — | 7 | — | 7 | ||||||||||||||
Total | $ | 147 | $ | 24 | $ | — | $ | 171 | |||||||||||
Liabilities: | |||||||||||||||||||
Deferred compensation plan | Accrued liabilities | $ | 147 | $ | — | $ | — | $ | 147 | ||||||||||
Derivatives: | |||||||||||||||||||
Foreign exchange | Accrued liabilities | — | 1 | — | 1 | ||||||||||||||
Interest Rate | Accrued liabilities | — | 28 | — | 28 | ||||||||||||||
TF1 Eurosport France put right | Accrued liabilities | — | — | 4 | 4 | ||||||||||||||
Total | $ | 147 | $ | 29 | $ | 4 | $ | 180 | |||||||||||
December 31, 2013 | |||||||||||||||||||
Category | Balance Sheet Location | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets: | |||||||||||||||||||
Trading securities: | |||||||||||||||||||
Mutual funds | Prepaid expenses and other current assets | $ | 129 | $ | — | $ | — | $ | 129 | ||||||||||
Available-for-sale securities: | |||||||||||||||||||
Common Stock | Other noncurrent assets | 4 | — | — | 4 | ||||||||||||||
Derivatives: | |||||||||||||||||||
Foreign exchange | Prepaid expenses and other current assets | — | 4 | — | 4 | ||||||||||||||
Foreign exchange | Other noncurrent assets | — | 9 | — | 9 | ||||||||||||||
Total | $ | 133 | $ | 13 | $ | — | $ | 146 | |||||||||||
Liabilities: | |||||||||||||||||||
Deferred compensation plan | Accrued liabilities | $ | 129 | $ | — | $ | — | $ | 129 | ||||||||||
Derivatives: | |||||||||||||||||||
Foreign exchange | Accrued liabilities | — | 1 | — | 1 | ||||||||||||||
TFI Eurosport put right | Accrued liabilities | — | — | 20 | 20 | ||||||||||||||
Total | $ | 129 | $ | 1 | $ | 20 | $ | 150 | |||||||||||
Trading securities are comprised of investments in mutual funds held in a separate trust which are owned as part of the Company’s deferred compensation plan. The fair value of Level 1 trading securities was determined by reference to the quoted market price per unit in active markets multiplied by the number of units held without consideration of transaction costs. The fair value of the related deferred compensation plan liability was determined based on the fair value of the related investments elected by employees. | |||||||||||||||||||
Available-for-sale securities represent equity investments in highly liquid instruments. The fair value of Level 1 available-for-sale securities was determined by reference to the quoted market price per unit in active markets multiplied by the number of units held without consideration of transaction costs. | |||||||||||||||||||
Derivative financial instruments are comprised of foreign exchange contracts used by the Company to modify its exposure to market risks from foreign exchange rates and interest rate contracts used to modify exposure to market risks from interest rates for forecasted issuances of debt. The fair value of Level 2 derivative financial instruments was determined using a market-based approach. | |||||||||||||||||||
As of December 31, 2014, TF1 had the conditional right to require the Company to purchase its remaining shares in Eurosport France at various dates should Discovery complete its planned acquisition of a controlling interest in Eurosport France. Previously, TF1 had the conditional right to require the Company to purchase its remaining shares in Eurosport, inclusive of Eurosport France. Following the consolidation of Eurosport, excluding Eurosport France, TF1 was provided a conditional right to require Discovery to purchase its remaining shares in Eurosport and a right to put a portion of its interest in Eurosport France to Discovery. The option on Eurosport, the value of which is embedded in the noncontrolling interest, is classified as a component of redeemable equity (see Note 12). The separate written put for Eurosport France does not qualify for redeemable equity classification, but as an accrued liability and is reported at fair value and subsequently marked to fair value through earnings. The fair value measurement as of December 31, 2014 of the TF1 put on Eurosport France of $4 million was determined through the use of a Monte Carlo simulation model. The Monte Carlo model simulates the various sources of uncertainty impacting the value of a financial instrument and uses those simulations to develop an estimated fair value for the instrument. The valuation methodology for the TF1 put for Eurosport France is based on unobservable estimates and judgments, and therefore represents a Level 3 fair value measurement. (See Note 3.) | |||||||||||||||||||
In addition to the financial instruments listed in the tables above, the Company holds other financial instruments, including cash deposits, accounts receivable, accounts payable, commercial paper, borrowings under the revolving credit facility, capital leases and senior notes. The carrying values for such financial instruments, other than borrowings under the revolving credit facility and the senior notes, each approximated their fair values. The estimated fair value of the Company’s outstanding borrowings under the revolving credit facility and senior notes using quoted prices from over the counter markets, considered Level 2 inputs, was $7.5 billion and $6.6 billion as of December 31, 2014 and 2013, respectively. |
Content_Rights
Content Rights | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Content Rights [Abstract] | |||||||||||||
Content Rights | CONTENT RIGHTS | ||||||||||||
The following table presents a summary of the components of content rights (in millions). | |||||||||||||
December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Produced content rights: | |||||||||||||
Completed | $ | 3,242 | $ | 3,566 | |||||||||
In-production | 377 | 334 | |||||||||||
Coproduced content rights: | |||||||||||||
Completed | 696 | 637 | |||||||||||
In-production | 83 | 84 | |||||||||||
Licensed content rights: | |||||||||||||
Acquired | 949 | 880 | |||||||||||
Prepaid | 82 | 48 | |||||||||||
Content rights, at cost | 5,429 | 5,549 | |||||||||||
Accumulated amortization | (3,127 | ) | (3,389 | ) | |||||||||
Total content rights, net | 2,302 | 2,160 | |||||||||||
Current portion | (329 | ) | (277 | ) | |||||||||
Noncurrent portion | $ | 1,973 | $ | 1,883 | |||||||||
Content expense consisted of the following (in millions). | |||||||||||||
For the year ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Content amortization | $ | 1,462 | $ | 1,157 | $ | 832 | |||||||
Other production charges | 155 | 100 | 75 | ||||||||||
Content impairments (a) | 95 | 33 | 33 | ||||||||||
Total content expense | $ | 1,712 | $ | 1,290 | $ | 940 | |||||||
(a) Content impairments are generally recorded as a component of costs of revenue. During the year ended December 31, 2014, of the $95 million in content impairments recorded, $55 million were classified as a component of restructuring and other charges. These charges resulted from the consolidation and subsequent rebranding of The Hub Network to Discovery Family and the cancellation of certain high profile series due to legal circumstances pertaining to the associated talent. (See Note 16.) | |||||||||||||
As of December 31, 2014, the Company estimates that approximately 95% of unamortized costs of content rights, excluding content in-production and prepaid licenses, will be amortized within the next three years. As of December 31, 2014, the Company will amortize $928 million of the above unamortized content rights, excluding content in-production and prepaid licenses, during the next twelve months. |
Property_And_Equipment
Property And Equipment | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Property, Plant and Equipment [Abstract] | ||||||||
Property And Equipment | PROPERTY AND EQUIPMENT | |||||||
Property and equipment consisted of the following (in millions). | ||||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Land, buildings and leasehold improvements | $ | 340 | $ | 318 | ||||
Broadcast equipment | 612 | 556 | ||||||
Capitalized software costs | 258 | 222 | ||||||
Office equipment, furniture, fixtures and other | 332 | 301 | ||||||
Property and equipment, at cost | 1,542 | 1,397 | ||||||
Accumulated depreciation | (988 | ) | (883 | ) | ||||
Property and equipment, net | $ | 554 | $ | 514 | ||||
Property and equipment includes assets acquired under capital lease arrangements, primarily satellite transponders classified as broadcast equipment, with gross carrying values of $274 million and $238 million as of December 31, 2014 and 2013, respectively. The related accumulated amortization for capital lease assets was $120 million and $98 million as of December 31, 2014 and 2013, respectively. | ||||||||
The net book value of capitalized software costs was $63 million and $48 million as of December 31, 2014 and 2013, respectively. | ||||||||
Depreciation expense for property and equipment, including amortization of capitalized software costs and capital lease assets, totaled $131 million, $111 million and $88 million for 2014, 2013 and 2012, respectively. | ||||||||
In addition to the capitalized property and equipment included in the above table, the Company rents certain facilities and equipment under operating lease arrangements. Rental expense for operating leases totaled $143 million, $94 million and $60 million for 2014, 2013 and 2012, respectively. |
Goodwill_And_Intangible_Assets
Goodwill And Intangible Assets | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||
Goodwill And Intangible Assets | GOODWILL AND INTANGIBLE ASSETS | |||||||||||||||||||||||||
Goodwill | ||||||||||||||||||||||||||
Changes in the carrying value of goodwill, by operating segment, were as follows (in millions). | ||||||||||||||||||||||||||
U.S. | International | Education and Other | Total | |||||||||||||||||||||||
Networks | Networks | |||||||||||||||||||||||||
31-Dec-12 | $ | 4,998 | $ | 1,371 | $ | 30 | $ | 6,399 | ||||||||||||||||||
Acquisitions (See Note 3.) | — | 924 | 25 | 949 | ||||||||||||||||||||||
Dispositions | (9 | ) | — | — | (9 | ) | ||||||||||||||||||||
Foreign currency translation | — | 1 | 1 | 2 | ||||||||||||||||||||||
31-Dec-13 | 4,989 | 2,296 | 56 | 7,341 | ||||||||||||||||||||||
Acquisitions (See Note 3.) | 310 | 794 | 28 | 1,132 | ||||||||||||||||||||||
Dispositions | (12 | ) | — | — | (12 | ) | ||||||||||||||||||||
Foreign currency translation | — | (221 | ) | (4 | ) | (225 | ) | |||||||||||||||||||
31-Dec-14 | $ | 5,287 | $ | 2,869 | $ | 80 | $ | 8,236 | ||||||||||||||||||
The carrying amount of goodwill at the U.S. Networks segment included accumulated impairments of $20 million at December 31, 2014 and 2013. | ||||||||||||||||||||||||||
Intangible Assets | ||||||||||||||||||||||||||
Finite-lived intangible assets consisted of the following (in millions, except years). | ||||||||||||||||||||||||||
Weighted | 31-Dec-14 | 31-Dec-13 | ||||||||||||||||||||||||
Average | ||||||||||||||||||||||||||
Amortization | ||||||||||||||||||||||||||
Period (Years) | Gross | Accumulated | Net | Gross | Accumulated | Net | ||||||||||||||||||||
Amortization | Amortization | |||||||||||||||||||||||||
Intangible assets subject to amortization: | ||||||||||||||||||||||||||
Trademarks | 10 | $ | 489 | $ | (99 | ) | $ | 390 | $ | 432 | $ | (58 | ) | $ | 374 | |||||||||||
Customer relationships | 18 | 1,701 | (370 | ) | 1,331 | 1,189 | (262 | ) | 927 | |||||||||||||||||
Other | 13 | 107 | (21 | ) | 86 | 112 | (12 | ) | 100 | |||||||||||||||||
Total | $ | 2,297 | $ | (490 | ) | $ | 1,807 | $ | 1,733 | $ | (332 | ) | $ | 1,401 | ||||||||||||
Indefinite-lived intangible assets not subject to amortization (in millions): | ||||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||
Intangible assets not subject to amortization: | ||||||||||||||||||||||||||
Trademarks | $ | 164 | $ | 164 | ||||||||||||||||||||||
During 2014, intangible assets, net increased $406 million primarily due to the recognition of $778 million of finite-lived intangible assets in connection with business acquisitions (see Note 3), partially offset by amortization expense and translation adjustments. Amortization expense for finite-lived intangible assets reflects the pattern in which the assets' economic benefits are consumed over their estimated useful lives, often using the straight-line method. Amortization expense related to finite-lived intangible assets was $198 million, $165 million and $29 million for 2014, 2013 and 2012, respectively. | ||||||||||||||||||||||||||
Amortization expense relating to intangible assets subject to amortization for each of the next five years and thereafter is estimated to be as follows (in millions). | ||||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | |||||||||||||||||||||
Amortization expense | $ | 199 | $ | 191 | $ | 180 | $ | 169 | $ | 162 | $ | 906 | ||||||||||||||
The amount and timing of the estimated expenses in the above table may vary due to future acquisitions, dispositions, impairments, changes in estimated useful lives or changes in foreign currency exchange rates. | ||||||||||||||||||||||||||
Impairment Analysis | ||||||||||||||||||||||||||
During the fourth quarter of 2014, the Company performed a qualitative goodwill impairment assessment for all goodwill reporting units. This assessment included, but was not limited to, consideration of the results of the Company's most recent quantitative impairment test, consideration of macroeconomic conditions, industry and market conditions, cost factors, cash flows, changes in key personnel and the Company's share price. Based on this assessment, the Company determined that it was more likely than not that the fair value of those reporting units exceeded their carrying values. Therefore, no goodwill impairment was recorded during 2014. | ||||||||||||||||||||||||||
During the fourth quarter of 2013, the Company completed its annual impairment review of goodwill. Due to the period of time elapsed since the last quantitative impairment test in 2010, the Company elected to proceed to the first step of the quantitative goodwill impairment test for all reporting units. The estimated fair value of each reporting unit exceeded its carrying value and, therefore, no impairment was recorded. The fair values of the reporting units were determined using DCF and market-based valuation models. The market-based valuation models utilized multiples of earnings before interest, taxes, depreciation and amortization (“EBITDA”). Both the DCF and market-based models resulted in substantially similar fair values. Cash flows were determined based on Company estimates of future operating results and discounted using an internal rate of return based on an assessment of the risk inherent in future cash flows of the respective reporting unit. | ||||||||||||||||||||||||||
During 2012 the Company performed a qualitative goodwill impairment assessment for all goodwill reporting units, and determined that it was more likely than not that the fair value of those reporting units exceeded their carrying values. Therefore no goodwill impairment was recorded during 2012. |
Debt
Debt | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||||
Debt | DEBT | ||||||||||||||||||||||||
The table below presents the components of outstanding debt (in millions). | |||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
3.70% Senior Notes, semi-annual interest, due June 2015 | $ | 850 | $ | 850 | |||||||||||||||||||||
5.625% Senior Notes, semi-annual interest, due August 2019 | 500 | 500 | |||||||||||||||||||||||
5.05% Senior Notes, semi-annual interest, due June 2020 | 1,300 | 1,300 | |||||||||||||||||||||||
4.375% Senior Notes, semi-annual interest, due June 2021 | 650 | 650 | |||||||||||||||||||||||
2.375% Senior Notes, euro denominated, annual interest, due March 2022 | 365 | — | |||||||||||||||||||||||
3.30% Senior Notes, semi-annual interest, due May 2022 | 500 | 500 | |||||||||||||||||||||||
3.25% Senior Notes, semi-annual interest, due April 2023 | 350 | 350 | |||||||||||||||||||||||
6.35% Senior Notes, semi-annual interest, due June 2040 | 850 | 850 | |||||||||||||||||||||||
4.95% Senior Notes, semi-annual interest, due May 2042 | 500 | 500 | |||||||||||||||||||||||
4.875% Senior Notes, semi-annual interest, due April 2043 | 850 | 850 | |||||||||||||||||||||||
Revolving credit facility | 38 | — | |||||||||||||||||||||||
Commercial paper | 229 | — | |||||||||||||||||||||||
Capital lease obligations | 187 | 165 | |||||||||||||||||||||||
Total debt | 7,169 | 6,515 | |||||||||||||||||||||||
Unamortized discount | (16 | ) | (16 | ) | |||||||||||||||||||||
Debt, net | 7,153 | 6,499 | |||||||||||||||||||||||
Current portion of debt | (1,107 | ) | (17 | ) | |||||||||||||||||||||
Noncurrent portion of debt | $ | 6,046 | $ | 6,482 | |||||||||||||||||||||
Senior Notes | |||||||||||||||||||||||||
On March 7, 2014, Discovery Communications, LLC ("DCL"), a wholly owned subsidiary of the Company, issued €300 million principal amount ($417 million at issuance based on the exchange rate of $1.39 per euro at March 7, 2014) of 2.375% Senior Notes due March 7, 2022 (the "2014 Notes"). The proceeds received by DCL from the offering were net of a $3 million issuance discount and $3 million of deferred financing costs. The current balance reflects changes in exchange rates and amortization for debt issuance discount; there have been no other changes to the balance. | |||||||||||||||||||||||||
DCL has the option to redeem some or all of the 2014 Notes at any time prior to their maturity by paying a make-whole premium plus accrued and unpaid interest, if any, through the date of repurchase. Interest on the 2014 Notes is payable annually on March 7 of each year. The 2014 Notes are unsecured and rank equally in right of payment with all of DCL's other unsecured senior indebtedness. All of DCL's outstanding senior notes are fully and unconditionally guaranteed on an unsecured and unsubordinated basis by Discovery and contain certain nonfinancial covenants, events of default and other customary provisions. The Company and DCL were in compliance with all covenants and customary provisions under the senior notes, and there were no events of default as of December 31, 2014. | |||||||||||||||||||||||||
Revolving Credit Facility | |||||||||||||||||||||||||
On June 20, 2014, DCL revised its $1.0 billion revolving credit facility to allow DCL and certain designated foreign subsidiaries of DCL to borrow up to $1.5 billion, including a $750 million sublimit for multi-currency borrowings, a $100 million sublimit for the issuance of standby letters of credit and a $50 million sublimit for swing line loans. Borrowing capacity under this agreement is reduced by the outstanding borrowings under the commercial paper program discussed below. DCL also has the ability to request an increase of the revolving credit facility up to an aggregate additional $1.0 billion, upon the satisfaction of certain conditions. The revolving credit facility agreement provides for a maturity date of June 20, 2019. | |||||||||||||||||||||||||
The Company had total outstanding borrowings of $38 million under the revolving credit facility as of December 31, 2014 at a weighted-average interest rate of 1.98% . There were no amounts borrowed under the revolving credit facility as of December 31, 2013. Issuance costs associated with the revolving credit facility were $3 million for the year ended December 31, 2014. The interest rate on borrowings under the revolving credit facility is variable based on DCL's then-current credit rating for its publicly traded debt. For dollar-denominated borrowings, the interest rate is based, at the Company's option, on either adjusted LIBOR, plus a margin, or an alternate base rate, plus a margin. The current margins are 1.10% and 0.10%, respectively, per annum for adjusted LIBOR and alternate base rate borrowings. A monthly facility fee is charged based on the total capacity of the facility, and interest is charged based on the amount borrowed on the facility. The current facility fee rate is 0.15% per annum and subject to change based on DCL's then-current credit ratings. All obligations of DCL and the other borrowers under the revolving credit facility are unsecured and are fully and unconditionally guaranteed by Discovery. | |||||||||||||||||||||||||
The credit agreement governing the revolving credit facility contains customary representations, warranties and events of default, as well as affirmative and negative covenants. As of December 31, 2014, the Company, DCL and the other borrowers were in compliance with all covenants and there were no events of default under the revolving credit facility. | |||||||||||||||||||||||||
Commercial Paper | |||||||||||||||||||||||||
On May 22, 2014, the Company entered into a commercial paper program. The commercial paper issued under this program is supported by the revolving credit facility described above. Outstanding commercial paper borrowings were $229 million as of December 31, 2014 and have a weighted average interest rate of approximately 0.6% and maturities of less than 90 days. | |||||||||||||||||||||||||
Long-term Debt Repayment Schedule | |||||||||||||||||||||||||
The following table presents a summary of scheduled and estimated debt payments, excluding the revolving credit facility, commercial paper borrowings and capital lease obligations, for the succeeding five years based on the amount of debt outstanding as of December 31, 2014 (in millions). | |||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | ||||||||||||||||||||
Long-term debt repayments | $ | 850 | $ | — | $ | — | $ | — | $ | 500 | $ | 5,365 | |||||||||||||
Scheduled payments for capital lease obligations outstanding as of December 31, 2014 are disclosed in Note 21. |
Derivative_Financial_Instrumen
Derivative Financial Instruments | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Text Block] | DERIVATIVE FINANCIAL INSTRUMENTS | ||||||||||||||||||
The Company uses derivative financial instruments to modify its exposure to market risks from changes in foreign exchange rates and interest rates. The Company does not enter into or hold derivative financial instruments for speculative trading purposes. | |||||||||||||||||||
During 2014 and 2013, the Company designated foreign currency forward contracts as cash flow hedges to mitigate foreign currency risk arising from third-party revenue and inter-company licensing agreements. The Company also designated interest rate contracts used to hedge the pricing for certain senior notes as cash flow hedges. Gains and losses on the effective portion of designated cash flow hedges are initially recorded in accumulated other comprehensive (loss) income on the consolidated balance sheet and reclassified to the statements of operations when the hedged item is recognized. | |||||||||||||||||||
During 2013, the Company entered into foreign exchange contracts in connection with the planned acquisition of SBS Nordic (see Note 3). These derivatives, which economically hedged the Company's exposure to fluctuations in certain foreign currency exchange rates, did not qualify for hedge accounting. There were no unsettled foreign exchange contracts held by the Company in connection with potential business combinations as of December 31, 2014 and 2013. Realized and unrealized gains and losses on foreign currency forward contracts that do not qualify for hedge accounting are reflected in other (expense) income, net on the consolidated statements of operations. | |||||||||||||||||||
The Company records all unsettled derivative contracts on the consolidated balance sheet at fair value (see Note 6); derivatives in an asset position are classified as assets, and derivatives in a liability position are classified as liabilities. The Company's master netting agreements allow the Company to settle derivative contracts denominated in the same currency with a single counterparty on the same day on a net basis. There were no amounts eligible to be offset under master netting agreements as of December 31, 2014 and 2013. | |||||||||||||||||||
The following table summarizes the notional amount and fair value of the Company's derivative positions (in millions). | |||||||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||||||
Balance Sheet Location | Notional | Fair Value | Notional | Fair Value | |||||||||||||||
Derivatives designated as hedges: | |||||||||||||||||||
Foreign exchange | Prepaid expenses and other current assets | $ | 425 | $ | 17 | $ | 16 | $ | 4 | ||||||||||
Foreign exchange | Other noncurrent assets | $ | 20 | $ | 7 | $ | 36 | $ | 9 | ||||||||||
Foreign exchange | Accrued liabilities | $ | 35 | $ | 1 | $ | — | $ | — | ||||||||||
Interest rate | Accrued liabilities | $ | 475 | $ | 28 | $ | — | $ | — | ||||||||||
Derivatives not designated as hedges: | |||||||||||||||||||
Foreign exchange | Prepaid expenses and other current assets | $ | 3 | $ | — | $ | — | $ | — | ||||||||||
Foreign exchange | Accrued liabilities | $ | — | $ | — | $ | 4 | $ | 1 | ||||||||||
Foreign exchange | Other noncurrent liabilities | $ | — | $ | — | $ | 3 | $ | — | ||||||||||
The following table presents the pretax impact of derivatives designated as cash flow hedges on income and other comprehensive (loss) income (in millions). | |||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||
Gains (losses) recognized in accumulated other comprehensive income | |||||||||||||||||||
Foreign exchange | $ | 14 | $ | 10 | $ | — | |||||||||||||
Interest rate | $ | (28 | ) | $ | — | $ | (2 | ) | |||||||||||
Gains reclassified into income from accumulated other comprehensive income (effective portion) | |||||||||||||||||||
Foreign exchange - costs of revenues | $ | 1 | $ | — | $ | — | |||||||||||||
Foreign exchange - selling, general and administrative expense | $ | — | $ | 1 | $ | — | |||||||||||||
Foreign exchange - other (expense) income, net | $ | 3 | $ | — | $ | — | |||||||||||||
The following table presents the pretax gains (losses) on derivatives not designated as hedges and recognized in other (expense) income, net in the consolidated statements of operations (in millions). | |||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||
Foreign exchange derivatives | $ | 1 | $ | (56 | ) | $ | (2 | ) | |||||||||||
Redeemable_Noncontrolling_Inte
Redeemable Noncontrolling Interest | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Noncontrolling Interest [Abstract] | |||||||||
Redeemable Noncontrolling Interest Disclosure [Text Block] | REDEEMABLE NONCONTROLLING INTERESTS | ||||||||
In connection with the acquisition of a controlling interest in Discovery Family on September 23, 2014, the Company recognized $238 million for Hasbro's noncontrolling interest in Discovery Family. Hasbro has the right to put the entirety of its remaining 40% non-controlling interest to the Company for one year after December 31, 2021, or in the event a Discovery performance obligation related to Discovery Family is not met. Embedded in the redeemable noncontrolling interest is also a Discovery call right that is exercisable for one year after December 31, 2021. Upon the exercise of the put or call options, the price to be paid for the interest being purchased is generally a function of the then current fair market value of the interest, to which certain discounts and floor values may apply in specified situations depending upon the party exercising the put or call and the basis for the exercise of the put or call. As Hasbro's put right is outside the control of the Company, Hasbro's 40% noncontrolling interest is presented as redeemable noncontrolling interest outside of permanent equity on the Company's consolidated balance sheet (see Note 3). | |||||||||
In connection with the acquisition of a controlling interest in Eurosport on May 30, 2014, the Company recognized $558 million for TF1's noncontrolling interest in Eurosport. TF1 has the right to put the entirety of its remaining 49% non-controlling interest to the Company during two 90-day windows in the two and a half years after May 30, 2014. If the put right is exercised during the first 90-day window beginning July 1, 2015, it has a floor value equal to the fair value denominated in euro per share of Eurosport on May 30, 2014. If the put right is exercised during the second 90-day window beginning July 1, 2016, it will be priced at the current fair value denominated in euro per share of Eurosport, or as may be agreed between the Company and TF1. As TF1's put right is outside the control of the Company, TF1's 49% noncontrolling interest is presented as redeemable noncontrolling interest outside of permanent equity on the Company's consolidated balance sheet. (See Note 3.) | |||||||||
In connection with the acquisition of SBS Nordic on April 9, 2013, the Company recognized an additional $6 million for the fair value of a noncontrolling interest in one of its Danish subsidiaries (see Note 3). On November 19, 2014, the Company purchased the 20% ownership interest from the noncontrolling interest holder for $1 million. The difference between the consideration transferred and the recorded value of the previous redeemable noncontrolling interest was recorded to additional paid-in capital. | |||||||||
In connection with the acquisition of a controlling interest in Discovery Japan on January 10, 2013, the Company recognized $35 million for the fair value of J:COM's noncontrolling interest. (See Note 3.) The terms of the agreement provide J:COM with a right to put all, but not less than all, of its 20% noncontrolling interest to Discovery at any time for cash. For the first four years, the redemption value is the January 10, 2013 fair value denominated in Japanese yen; thereafter, the redemption value is the greater of the then-current fair value or the January 10, 2013 fair value denominated in Japanese yen. | |||||||||
Redeemable noncontrolling interests reflected as of the balance sheet date are the greater of the noncontrolling interest balances adjusted for comprehensive income items and distributions or the redemption values remeasured at the period end foreign exchange rates (i.e. the "floor"). Adjustments to the carrying amount of redeemable noncontrolling interests to redemption value as a result of changes in exchange rates are reflected in currency translation adjustments, a component of other comprehensive (loss) income; however, such currency translation adjustments to redemption value are allocated to Discovery stockholders only. Redeemable noncontrolling interest adjustments of redemption value to the floor are reflected in retained earnings. The adjustment of redemption value to the floor that reflects a redemption in excess of fair value is included as an adjustment to income from continuing operations available to Discovery Communications, Inc. stockholders in the calculation of earnings per share. None of the current period adjustments reflect a redemption in excess of fair value (see Note 18). | |||||||||
The table below presents the reconciliation of changes in redeemable noncontrolling interests (in millions). | |||||||||
December 31, | |||||||||
2014 | 2013 | ||||||||
Beginning balance | $ | 36 | $ | — | |||||
Initial fair value of redeemable noncontrolling interests of acquired businesses | 796 | 41 | |||||||
Purchase of subsidiary shares at fair value | (6 | ) | — | ||||||
Cash distributions to redeemable noncontrolling interests | (2 | ) | — | ||||||
Comprehensive (loss) income adjustments: | |||||||||
Net (loss) income attributable to redeemable noncontrolling interests | (4 | ) | 1 | ||||||
Other comprehensive loss attributable to redeemable noncontrolling interests | (40 | ) | (3 | ) | |||||
Currency translation on redemption values | (64 | ) | (5 | ) | |||||
Retained earnings adjustments: | |||||||||
Adjustments to redemption value | 31 | 2 | |||||||
Ending balance | $ | 747 | $ | 36 | |||||
Equity
Equity | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||
Equity [Abstract] | ||||||||||||||||||||||||||||||||||||
Equity Note Disclosure [Text Block] | EQUITY | |||||||||||||||||||||||||||||||||||
Common Stock | ||||||||||||||||||||||||||||||||||||
The Company has three series of common stock authorized, issued and outstanding as of December 31, 2014: Series A common stock, Series B common stock and Series C common stock. Holders of these three series of common stock have equal rights, powers and privileges, except as otherwise noted. Holders of Series A common stock are entitled to one vote per share and holders of Series B common stock are entitled to ten votes per share on all matters voted on by stockholders, except for directors to be elected by holders of the Company’s Series A convertible preferred stock. Holders of Series C common stock are not entitled to any voting rights, except as required by Delaware law. Generally, holders of Series A common stock and Series B common stock and Series A convertible preferred stock vote as one class, except for certain preferential rights afforded to holders of Series A convertible preferred stock. | ||||||||||||||||||||||||||||||||||||
Holders of Series A common stock, Series B common stock and Series C common stock will participate equally in cash dividends if declared by the Board of Directors, subject to preferential rights of outstanding preferred stock. | ||||||||||||||||||||||||||||||||||||
Each share of Series B common stock is convertible, at the option of the holder, into one share of Series A common stock. Series A and Series C common stock are not convertible. | ||||||||||||||||||||||||||||||||||||
Generally, distributions made in shares of Series A common stock, Series B common stock or Series C common stock will be made proportionally to all common stockholders. In the event of a reclassification, subdivision or combination of any series of common stock, the shares of the other series of common stock will be equally reclassified, subdivided or combined. | ||||||||||||||||||||||||||||||||||||
In the event of a liquidation, dissolution, or winding up of Discovery, after payment of Discovery’s debts and liabilities and subject to preferential rights of outstanding preferred stock, holders of Series A common stock, Series B common stock and Series C common stock and holders of Series A and Series C preferred stock will share equally in any assets available for distribution to holders of common stock. | ||||||||||||||||||||||||||||||||||||
On February 13, 2014, John C. Malone, a member of Discovery’s Board of Directors, entered into an agreement granting David Zaslav, the Company’s President and Chief Executive Officer, certain voting and purchase rights with respect to the approximately 5.9 million shares of the Company’s Series B common stock owned by Mr. Malone. The agreement gives Mr. Zaslav the right to vote the Series B shares if Mr. Malone is not otherwise voting or directing the vote of those shares. The agreement also provides that if Mr. Malone proposes to sell the Series B shares, Mr. Zaslav will have the first right to negotiate for the purchase of the shares. If that negotiation is not successful and Mr. Malone proposes to sell the Series B shares to a third party, Mr. Zaslav will have the exclusive right to match that offer. The rights granted under the agreement will remain in effect for as long as Mr. Zaslav is either employed as the principal executive officer of the Company or serving on its Board of Directors. | ||||||||||||||||||||||||||||||||||||
Common Stock Repurchase Program | ||||||||||||||||||||||||||||||||||||
Under the Company's stock repurchase program, management is authorized to purchase shares of the Company's common stock from time to time through open market purchases or privately negotiated transactions at prevailing prices or pursuant to one or more accelerated stock repurchase agreements or other derivative arrangements as permitted by securities laws and other legal requirements, and subject to stock price, business and market conditions and other factors. Over the life of the program authorization under the stock repurchase program has totaled $5.5 billion. As of December 31, 2014, the Company had remaining authorization of $738 million for future repurchases under the stock repurchase program, which will expire on February 3, 2016. | ||||||||||||||||||||||||||||||||||||
Repurchased common stock is recorded in treasury stock on the consolidated balance sheet. The stock split in the form of a share dividend was not applied to the Company's treasury shares (see Note 1). Accordingly, the number of common shares | ||||||||||||||||||||||||||||||||||||
repurchased under the common stock repurchase program has not been retroactively adjusted to give effect to the stock split. | ||||||||||||||||||||||||||||||||||||
All common stock repurchases during 2014, 2013 and 2012 were made through open market transactions and were funded using cash on hand. As of December 31, 2014, the Company had repurchased over the life of the program 2.8 million and 91.3 million shares of Series A and Series C common stock for the aggregate purchase price of $171 million and $4.6 billion, respectively. | ||||||||||||||||||||||||||||||||||||
The table below presents a summary of stock repurchases (in millions). | ||||||||||||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Series A Common Stock: | ||||||||||||||||||||||||||||||||||||
Shares repurchased | — | 0.8 | 2 | |||||||||||||||||||||||||||||||||
Purchase price | $ | — | $ | 62 | $ | 109 | ||||||||||||||||||||||||||||||
Series C Common Stock: | ||||||||||||||||||||||||||||||||||||
Shares repurchased | 21.3 | 13.3 | 26.5 | |||||||||||||||||||||||||||||||||
Purchase price | $ | 1,232 | $ | 987 | $ | 1,271 | ||||||||||||||||||||||||||||||
Total shares repurchased | 21.3 | 14.1 | 28.5 | |||||||||||||||||||||||||||||||||
Total purchase price | $ | 1,232 | $ | 1,049 | $ | 1,380 | ||||||||||||||||||||||||||||||
Convertible Preferred Stock | ||||||||||||||||||||||||||||||||||||
The Company has two series of preferred stock authorized, issued and outstanding as of December 31, 2014: Series A convertible preferred stock and Series C convertible preferred stock. In addition to the 150 million shares authorized for Series A and Series C convertible preferred stock (75 million for each series) that is disclosed on the consolidated balance sheets, the Company has authorized 50 million shares of preferred stock that are undesignated and issuable in accordance with the provisions of the Company’s charter. In connection with the formation of Discovery, the Company issued shares of both its Series A convertible preferred stock and Series C convertible preferred stock to Advance/Newhouse Programming Partnership ("Advance/Newhouse"). As of December 31, 2014, all outstanding shares of Series A and Series C convertible preferred stock are held by Advance/Newhouse. | ||||||||||||||||||||||||||||||||||||
Holders of Series A and Series C convertible preferred stock have equal rights, powers and privileges, except as otherwise noted. Except for the election of common stock directors, the holders of Series A convertible preferred stock are entitled to vote on matters to which holders of Series A and Series B common stock are entitled to vote, and holders of Series C convertible preferred stock are entitled to vote on matters to which holders of Series C common stock are entitled to vote pursuant to Delaware law. Series A convertible preferred stockholders vote on an as converted to common stock basis together with the Series A and Series B common stockholders as a single class on all matters except the election of directors. | ||||||||||||||||||||||||||||||||||||
Additionally, through its ownership of the Series A convertible preferred stock, Advance/Newhouse has special voting rights on certain matters and the right to elect three directors. Holders of the Company’s common stock are not entitled to vote in the election of such directors. Advance/Newhouse retains these rights so long as it or its permitted transferees own or have the right to vote such shares that equal at least 80% of the shares of Series A convertible preferred stock issued to Advance/Newhouse in connection with the formation of Discovery plus any Series A convertible preferred stock released from escrow, as may be adjusted for certain capital transactions (the “Base Amount”). | ||||||||||||||||||||||||||||||||||||
Subject to the prior preferences and other rights of any senior stock, holders of Series A and Series C convertible preferred stock will participate equally with common stockholders on an as converted basis to common stock basis in any cash dividends declared by the Board of Directors. | ||||||||||||||||||||||||||||||||||||
Each share of Series A preferred stock is convertible, at the option of the holder, into one share of Series A common stock and one share of Series C common stock, subject to anti-dilution adjustments. The Series C conversion rate changed from one to two upon the August 6, 2014 effective date of the stock split in the form of a share dividend (see Note 1). Generally, each share of Series A and Series C convertible preferred stock will automatically convert into the applicable series of common stock if such shares are transferred from Advance/Newhouse to a third party and such transfer is not a permitted transfer. On December 28, 2012, Advance/Newhouse completed the transfer of 8.4 million shares of their Series C convertible preferred stock to a third party, which, pursuant to provisions in the Company's articles of incorporation, automatically converted into an equal number of shares of Series C common stock. Upon conversion, Discovery derecognized the preferred stock based on its carrying value and allocated that amount to common stock. Advance/Newhouse converted an additional 550 thousand shares of Series C convertible preferred stock on April 5, 2013. No gain or loss was recorded on either conversion. Additionally, all of the outstanding Series A and Series C convertible preferred stock will automatically convert into the applicable series of common stock at such time as the number of outstanding shares of Series A convertible preferred stock is less than 80% of the Base Amount. The Base Amount is the 70 million shares of Series A and Series C Preferred Stock initially issued to Advance/Newhouse, plus any shares released from escrow as of the date the Base Amount is calculated. | ||||||||||||||||||||||||||||||||||||
In the event of a liquidation, dissolution or winding up of Discovery, after payment of Discovery’s debts and liabilities and subject to the prior payment with respect to any stock ranking senior to Series A and Series C convertible preferred stock, the holders of Series A and Series C convertible preferred stock will receive, before any payment or distribution is made to the holders of any common stock or other junior stock, an amount (in cash or property) equal to $0.01 per share. Following payment of such amount and the payment in full of all amounts owing to the holders of securities ranking senior to Discovery’s common stock, holders of Series A and Series C convertible preferred stock will share equally on an as converted to common stock basis with the holders of common stock with respect to any assets remaining for distribution to such holders. | ||||||||||||||||||||||||||||||||||||
Preferred Stock Conversion and Repurchase | ||||||||||||||||||||||||||||||||||||
The Company has an agreement with Advance/Newhouse to repurchase, on a quarterly basis, a number of shares of Series C convertible preferred stock convertible into a number of shares of Series C common stock equal to 3/7 of all shares of Series C common stock purchased under the Company’s stock repurchase program during the then most recently completed fiscal quarter. The price paid per share is calculated as 99% of the average price paid for the Series C common shares repurchased by the Company during the applicable fiscal quarter multiplied by the Series C conversion rate. The Advance/Newhouse repurchases are made outside of the Company’s publicly announced stock repurchase program. During 2014, the Company converted and retired 2.4 million shares of its Series C convertible preferred stock under the preferred stock conversion and repurchase arrangement for an aggregate purchase price of $190 million. Based on the number of shares of Series C common stock purchased during the three months ended December 31, 2014, the Company expects Advance/Newhouse to effectively convert and sell to the Company 1.7 million shares of its Series C convertible preferred stock for an aggregate purchase price of $117 million on or about February 23, 2015. The expected purchase of these shares has not been recognized as a liability on the Company's consolidated balance sheet as of December 31, 2014 due to certain termination rights held by Discovery and Advance/Newhouse over the repurchase agreement. The repurchase transactions are recorded as a decrease of par value of preferred stock and retained earnings upon settlement using cash on hand as there is no remaining additional paid-in capital for this class of stock. | ||||||||||||||||||||||||||||||||||||
On April 5, 2013, the Company repurchased 4 million shares of its Series C convertible preferred stock from Advance/Newhouse for an aggregate purchase price of $256 million, which was recorded as a decrease of par value of preferred stock and retained earnings. The repurchase was made outside of the Company's publicly announced stock repurchase program, using cash on hand. | ||||||||||||||||||||||||||||||||||||
Other Comprehensive (Loss) Income | ||||||||||||||||||||||||||||||||||||
The table below presents the tax effects related to each component of other comprehensive (loss) income and reclassifications made into the consolidated statements of operations (in millions). | ||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2014 | Year Ended December 31, 2013 | Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||||
Pretax | Tax | Net-of-tax | Pretax | Tax Benefit (Provision) | Net-of-tax | Pretax | Tax Benefit (Provision) | Net-of-tax | ||||||||||||||||||||||||||||
Benefit (Provision) | ||||||||||||||||||||||||||||||||||||
Currency translation adjustments: | ||||||||||||||||||||||||||||||||||||
Unrealized (losses) gains | $ | (401 | ) | $ | 9 | $ | (392 | ) | $ | 16 | $ | (21 | ) | $ | (5 | ) | $ | 21 | $ | 7 | $ | 28 | ||||||||||||||
Reclassifications to other (expense) income, net | (7 | ) | — | (7 | ) | (9 | ) | 3 | (6 | ) | — | — | — | |||||||||||||||||||||||
Derivative and market value adjustments: | ||||||||||||||||||||||||||||||||||||
Unrealized losses | (12 | ) | 5 | (7 | ) | 13 | (4 | ) | 9 | (2 | ) | 1 | (1 | ) | ||||||||||||||||||||||
Reclassifications to costs of revenues | (1 | ) | — | (1 | ) | — | — | — | — | — | — | |||||||||||||||||||||||||
Reclassifications to selling, general and administrative expense | — | — | — | (1 | ) | — | (1 | ) | — | — | — | |||||||||||||||||||||||||
Reclassifications to gain on disposition | (5 | ) | 2 | (3 | ) | — | — | — | — | — | — | |||||||||||||||||||||||||
Reclassifications to other (expense) income, net | (3 | ) | 1 | (2 | ) | — | — | — | — | — | — | |||||||||||||||||||||||||
Other comprehensive (loss) income | $ | (429 | ) | $ | 17 | $ | (412 | ) | $ | 19 | $ | (22 | ) | $ | (3 | ) | $ | 19 | $ | 8 | $ | 27 | ||||||||||||||
Accumulated Other Comprehensive (Loss) Income | ||||||||||||||||||||||||||||||||||||
The table below presents the changes in the components of accumulated other comprehensive (loss) income, net of taxes (in millions). There were no reclassifications from accumulated other comprehensive income in 2012. | ||||||||||||||||||||||||||||||||||||
Currency Translation Adjustments | Derivative | Accumulated | ||||||||||||||||||||||||||||||||||
and Market | Other | |||||||||||||||||||||||||||||||||||
Value | Comprehensive (Loss) Income | |||||||||||||||||||||||||||||||||||
Adjustments | ||||||||||||||||||||||||||||||||||||
31-Dec-11 | $ | (29 | ) | $ | 6 | $ | (23 | ) | ||||||||||||||||||||||||||||
Other comprehensive income (loss) | 28 | (1 | ) | 27 | ||||||||||||||||||||||||||||||||
31-Dec-12 | (1 | ) | 5 | 4 | ||||||||||||||||||||||||||||||||
Other comprehensive (loss) income before reclassifications | (5 | ) | 9 | 4 | ||||||||||||||||||||||||||||||||
Reclassifications from accumulated other comprehensive (loss) income to net income | (6 | ) | (1 | ) | (7 | ) | ||||||||||||||||||||||||||||||
Other comprehensive (loss) income | (11 | ) | 8 | (3 | ) | |||||||||||||||||||||||||||||||
Other comprehensive loss (income) attributable to redeemable noncontrolling interests | 4 | (1 | ) | 3 | ||||||||||||||||||||||||||||||||
31-Dec-13 | (8 | ) | 12 | 4 | ||||||||||||||||||||||||||||||||
Other comprehensive loss before reclassifications | (392 | ) | (7 | ) | (399 | ) | ||||||||||||||||||||||||||||||
Reclassifications from accumulated other comprehensive (loss) income to net income | (7 | ) | (6 | ) | (13 | ) | ||||||||||||||||||||||||||||||
Other comprehensive loss | (399 | ) | (13 | ) | (412 | ) | ||||||||||||||||||||||||||||||
Other comprehensive loss attributable to redeemable noncontrolling interests | 40 | — | 40 | |||||||||||||||||||||||||||||||||
31-Dec-14 | $ | (367 | ) | $ | (1 | ) | $ | (368 | ) |
EquityBased_Compensation
Equity-Based Compensation | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||||||||
Stock-Based Compensation | EQUITY-BASED COMPENSATION | |||||||||||||
The Company has various incentive plans under which performance-based restricted stock units ("PRSUs"), time-based restricted stock units ("RSUs"), stock options, unit awards and stock appreciation rights ("SARs") have been issued. As of December 31, 2014, the Company has reserved a total of 126 million shares of its Series A and Series C common stock for future exercises of outstanding and future grants of stock options and stock-settled SARs and future vesting of outstanding and future grants of PRSUs and RSUs. Upon exercise of stock options and stock-settled SARs or vesting of PRSUs and RSUs, the Company issues new shares from its existing authorized but unissued shares. There were 105 million shares of common stock in reserves that were available for future grant under the incentive plans as of December 31, 2014. | ||||||||||||||
As a result of the 2014 Share Dividend (see Note 1), the Company adjusted historical per share data, the number of shares and the exercise or grant price of its equity-based compensation. | ||||||||||||||
Equity-Based Compensation Expense | ||||||||||||||
The table below presents the components of equity-based compensation expense (in millions). | ||||||||||||||
Year Ended December 31, | ||||||||||||||
2014 | 2013 | 2012 | ||||||||||||
PRSUs and RSUs | $ | 60 | $ | 41 | $ | 36 | ||||||||
Stock options | 23 | 25 | 29 | |||||||||||
Unit awards | 5 | 60 | 68 | |||||||||||
SARs | (11 | ) | 63 | 21 | ||||||||||
ESPP | 1 | 1 | — | |||||||||||
Total equity-based compensation expense | $ | 78 | $ | 190 | $ | 154 | ||||||||
Tax benefit recognized | $ | 27 | $ | 51 | $ | 45 | ||||||||
Compensation expense for all awards was recorded in selling, general and administrative expense on the consolidated statements of operations. The Company recorded total liabilities for cash-settled and other liability-classified equity-based compensation awards of $84 million and $138 million as of December 31, 2014 and 2013, respectively. The current portion of the liability for cash-settled awards was $32 million and $85 million as of December 31, 2014 and 2013, respectively. | ||||||||||||||
Equity-Based Award Activity | ||||||||||||||
PRSUs and RSUs | ||||||||||||||
The table below presents PRSU and RSU activity (in millions, except years and weighted-average grant price). | ||||||||||||||
PRSUs and | Weighted-Average | Weighted-Average | Aggregate | |||||||||||
RSUs | Grant | Remaining | Fair | |||||||||||
Price | Contractual | Value | ||||||||||||
Term | ||||||||||||||
(years) | ||||||||||||||
Outstanding as of December 31, 2013 | 4.8 | $ | 23 | |||||||||||
Granted | 3.3 | $ | 41.51 | |||||||||||
Converted | (1.4 | ) | $ | 19.49 | $ | 59 | ||||||||
Forfeited | (0.2 | ) | $ | 37.46 | ||||||||||
Outstanding as of December 31, 2014 | 6.5 | $ | 32.71 | 0.86 | $ | 220 | ||||||||
Vested and expected to vest as of December 31, 2014 | 6.2 | $ | 32.54 | 0.8 | $ | 212 | ||||||||
The Company has granted PRSUs to certain senior level executives. PRSUs represent the contingent right to receive shares of the Company’s Series A and C common stock, substantially all of which vest over three to four years based on continuous service and whether the Company achieves certain operating performance targets. The performance targets for substantially all PRSUs are cumulative measures of the Company’s adjusted operating income before depreciation and amortization (as defined in Note 22), free cash flows and revenues over a three year period. The number of PRSUs that vest principally range from 0% to 100% based on a sliding scale where achieving or exceeding the performance target will result in 100% of the PRSUs vesting and achieving less than 80% of the target will result in no portion of the PRSUs vesting. Additionally, for certain PRSUs the Company’s Compensation Committee has discretion in determining the final amount of units that vest, but may not increase the amount of any PRSU award above 100%. Upon vesting, each PRSU becomes convertible into one share of the Company’s Series A or Series C common stock as applicable. Holders of PRSUs do not receive payments of dividends in the event the Company pays a cash dividend until such PRSUs are converted into shares of the Company’s common stock. | ||||||||||||||
The Company records compensation expense for PRSUs ratably over the graded vesting service period once it is probable that the performance targets will be achieved. In any period in which the Company determines that achievement of the performance targets is not probable, the Company ceases recording compensation expense and all previously recognized compensation expense for the award is reversed. | ||||||||||||||
Compensation expense is separately recorded for each vesting tranche of PRSUs for a particular grant. For most PRSUs, the Company measures the fair value and related compensation cost based on the closing price of the Company’s Series A or C common stock on the grant date. For PRSUs for which the Company’s Compensation Committee has discretion in determining the final amount of units that vest, compensation cost is remeasured at each reporting date based on the closing price of the Company’s Series A or Series C common stock. | ||||||||||||||
As of December 31, 2014, there were approximately 5 million outstanding PRSUs with a weighted-average grant price of $32.23. As of December 31, 2014, unrecognized compensation cost, net of expected forfeitures, related to PRSUs was $53 million, which is expected to be recognized over a weighted-average period of 1.9 years based on the Company’s current assessment of the PRSUs that will vest, which may differ from actual results. | ||||||||||||||
RSUs vest ratably each year over periods of one to four years based on continuous service. As of December 31, 2014, there were approximately 2 million outstanding RSUs with a weighted-average grant price of $34.16. As of December 31, 2014, there was $30 million of unrecognized compensation cost, net of expected forfeitures, related to RSUs, which is expected to be recognized over a weighted-average period of 2.2 years. | ||||||||||||||
Stock Options | ||||||||||||||
The table below presents stock option activity (in millions, except years and weighted-average exercise price). | ||||||||||||||
Stock Options | Weighted- | Weighted- | Aggregate | |||||||||||
Average | Average | Intrinsic | ||||||||||||
Exercise | Remaining | Value | ||||||||||||
Price | Contractual | |||||||||||||
Term | ||||||||||||||
(years) | ||||||||||||||
Outstanding as of December 31, 2013 | 15.2 | $ | 18.23 | |||||||||||
Granted | 2.2 | $ | 40.85 | |||||||||||
Exercised | (2.4 | ) | $ | 14.04 | $ | 63 | ||||||||
Forfeited | (0.3 | ) | $ | 30.89 | ||||||||||
Outstanding as of December 31, 2014 | 14.7 | $ | 22.01 | 3.89 | $ | 202 | ||||||||
Vested and expected to vest as of December 31, 2014 | 14.3 | $ | 21.63 | 3.91 | $ | 197 | ||||||||
Exercisable as of December 31, 2014 | 10.4 | $ | 16.85 | 3.38 | $ | 187 | ||||||||
Stock options are granted with an exercise price equal to or in excess of the closing market price of the Company’s Series A or Series C common stock on the date of grant. Substantially all stock options vest ratably over three to four years from the grant date based on continuous service and expire three to ten years from the date of grant. Stock option awards generally provide for accelerated vesting upon retirement or after reaching a specified age and years of service. The Company received cash payments from the exercise of stock options totaling $35 million, $46 million and $80 million during 2014, 2013 and 2012, respectively. As of December 31, 2014, there was $28 million of unrecognized compensation cost, net of expected forfeitures, related to stock options, which is expected to be recognized over a weighted-average period of 1.9 years. | ||||||||||||||
The fair value of stock options is estimated using the Black-Scholes option-pricing model. The weighted-average assumptions used to determine the fair value of stock options as of the date of grant during 2014, 2013 and 2012 were as follows. | ||||||||||||||
Year Ended December 31, | ||||||||||||||
2014 | 2013 | 2012 | ||||||||||||
Risk-free interest rate | 1.53 | % | 0.79 | % | 1.02 | % | ||||||||
Expected term (years) | 4.97 | 4.97 | 4.97 | |||||||||||
Expected volatility | 26.2 | % | 35.97 | % | 38.33 | % | ||||||||
Dividend yield | — | — | — | |||||||||||
The weighted-average grant date fair value of options granted during 2014, 2013 and 2012 was $19.73, $24.46 and $16.94, respectively, per option. The total intrinsic value of options exercised during 2014, 2013 and 2012 was $63 million, $130 million and $148 million, respectively. | ||||||||||||||
Unit Awards | ||||||||||||||
The table below presents unit award activity (in millions, except years and weighted-average grant price). | ||||||||||||||
Unit Awards | Weighted- | Weighted- | Aggregate | |||||||||||
Average | Average | Intrinsic | ||||||||||||
Grant | Remaining | Value | ||||||||||||
Price | Contractual | |||||||||||||
Term | ||||||||||||||
(years) | ||||||||||||||
Outstanding as of December 31, 2013 | 3.3 | $ | 19.23 | |||||||||||
Settled | (2.1 | ) | $ | 18.48 | $ | 52 | ||||||||
Outstanding as of December 31, 2014 | 1.2 | $ | 20.59 | 0.01 | $ | 16 | ||||||||
Vested and expected to vest as of December 31, 2014 | 1.2 | $ | 20.59 | 0.01 | $ | 16 | ||||||||
Unit awards represent the contingent right to receive a cash payment for the amount by which the vesting price exceeds the grant price. Because unit awards are cash-settled, the Company remeasures the fair value and compensation expense of outstanding unit awards each reporting date until settlement. All outstanding awards vested and expected to vest as of December 31, 2014 were settled as of January 2, 2015 in the amount of $14.1 million. | ||||||||||||||
SARs | ||||||||||||||
The table below presents SAR award activity (in millions, except years and weighted-average grant price). | ||||||||||||||
SARs | Weighted- | Weighted- | Aggregate | |||||||||||
Average | Average | Intrinsic | ||||||||||||
Grant | Remaining | Value | ||||||||||||
Price | Contractual | |||||||||||||
Term | ||||||||||||||
(years) | ||||||||||||||
Outstanding as of December 31, 2013 | 6.4 | $ | 27.6 | |||||||||||
Granted | 7.5 | $ | 43.23 | |||||||||||
Settled | (1.8 | ) | $ | 26.78 | $ | 29 | ||||||||
Outstanding as of December 31, 2014 | 12.1 | $ | 37.38 | 1.3 | $ | 29 | ||||||||
Vested and expected to vest as of December 31, 2014 | 12.1 | $ | 37.38 | 1.29 | $ | 29 | ||||||||
The fair value of outstanding SARs is estimated using the Black-Scholes option-pricing model. The weighted-average assumptions used to determine the fair value of outstanding SARs were as follows. | ||||||||||||||
Year Ended December 31, | ||||||||||||||
2014 | 2013 | 2012 | ||||||||||||
Risk-free interest rate | 0.59 | % | 0.45 | % | 0.29 | % | ||||||||
Expected term (years) | 1.3 | 1.38 | 1.63 | |||||||||||
Expected volatility | 27.72 | % | 22.77 | % | 26.31 | % | ||||||||
Dividend yield | — | — | — | |||||||||||
SAR award grants include cash-settled SARs and stock-settled SARs. Cash-settled SARs entitle the holder to receive a cash payment for the amount by which the price of the Company’s Series A or Series C common stock exceeds the base price established on the grant date. Cash-settled SARs are granted with a base price equal to or greater than the closing market price of the Company’s Series A or Series C common stock on the date of grant. Stock-settled SARs entitle the holder to shares of Series A or Series C common stock in accordance with the award agreement terms. | ||||||||||||||
As of December 31, 2014, the weighted-average fair value of SARs outstanding was $4.12 per award. The Company made cash payments of $29 million, $11 million and $1 million to settle exercised SARs during 2014, 2013 and 2012, respectively. As of December 31, 2014, there was $17 million of unrecognized compensation cost, net of estimated forfeitures, related to SARs, which is expected to be recognized over a weighted-average period of 1.2 years. | ||||||||||||||
Employee Stock Purchase Plan | ||||||||||||||
Discovery’s Employee Stock Purchase Plan (the "DESPP") enables eligible employees to purchase shares of the Company’s common stock through payroll deductions or other permitted means. Unless otherwise determined by the Company’s Compensation Committee, the purchase price for shares offered under the DESPP is 85% of the closing price of the Company’s Series A common stock on the purchase date. The Company recognizes the fair value of the discount associated with shares purchased in selling, general and administrative expense on the consolidated statement of operations. The Company’s Board of Directors has authorized 5 million shares of the Company’s common stock to be issued under the DESPP. During the years ended December 31, 2014, 2013 and 2012 the Company issued 191 thousand, 141 thousand and 169 thousand shares under the DESPP and received cash totaling $6 million, $5 million and $4 million, respectively. |
Retirement_Savings_Plans
Retirement Savings Plans | 12 Months Ended |
Dec. 31, 2014 | |
Compensation and Retirement Disclosure [Abstract] | |
Retirement Savings Plans | RETIREMENT SAVINGS PLANS |
The Company has defined contribution and other savings plans for the benefit of its employees that meet eligibility requirements. Eligible employees may contribute a portion of their compensation to the plans, which may be subject to certain statutory limitations. For these plans, the Company also pays contributions including discretionary contributions, subject to plan provisions, which vest immediately. The Company paid total contributions of $33 million, $28 million, and $16 million during 2014, 2013 and 2012, respectively. The Company's contributions were recorded in selling, general and administrative expense in the consolidated statements of operations. | |
The Company’s savings plans include a deferred compensation plan through which members of the Company’s executive team in the U.S. may elect to defer up to 50% of their eligible compensation. The amounts deferred are invested in various mutual funds at the direction of the executive, which are used to finance payment of the deferred compensation obligation. Distributions from the deferred compensation plan are made upon termination or other events as specified in the plan. | |
The Company has established a separate trust to hold the investments that finance the deferred compensation obligation. The accounts of the separate trust are included in the Company’s consolidated financial statements. The investments are included in prepaid expenses and other current assets and the deferred compensation obligation is included in accrued liabilities in the consolidated balance sheets. The values of the investments and deferred compensation obligation are recorded at fair value. Changes in the fair value of the investments are offset by changes in the fair value of the deferred compensation obligation. (See Note 6.) |
Restructuring_And_Other_Charge
Restructuring And Other Charges | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Restructuring and Related Activities [Abstract] | |||||||||||||
Restructuring And Other Charges | RESTRUCTURING AND OTHER CHARGES | ||||||||||||
Restructuring and other charges, by reportable segment were as follows (in millions). | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
U.S. Networks | $ | 61 | $ | 4 | $ | 3 | |||||||
International Networks | 24 | 11 | 1 | ||||||||||
Education and Other | 3 | — | — | ||||||||||
Corporate | 2 | 1 | 2 | ||||||||||
Total restructuring and other charges | $ | 90 | $ | 16 | $ | 6 | |||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Restructuring charges | $ | 35 | $ | 16 | $ | 6 | |||||||
Other charges | 55 | — | — | ||||||||||
Total restructuring and other charges | $ | 90 | $ | 16 | $ | 6 | |||||||
Restructuring charges relate to management changes, cost reduction efforts and contract terminations. Other charges during 2014 result from content impairments primarily at the Company's U.S. Networks segment following the consolidation and subsequent rebranding of Discovery Family and the cancellation of certain high profile series due to legal circumstances pertaining to the associated talent (see Note 7). | |||||||||||||
Changes in restructuring and other liabilities by major category were as follows (in millions). | |||||||||||||
Contract | Employee | Total | |||||||||||
Terminations | Relocations/ | ||||||||||||
Terminations | |||||||||||||
31-Dec-11 | $ | 4 | $ | 5 | $ | 9 | |||||||
Net accruals | 1 | 5 | 6 | ||||||||||
Cash paid | (2 | ) | (7 | ) | (9 | ) | |||||||
December 31, 2012 | 3 | 3 | 6 | ||||||||||
Net accruals | — | 16 | 16 | ||||||||||
Cash paid | (1 | ) | (14 | ) | (15 | ) | |||||||
December 31, 2013 | 2 | 5 | 7 | ||||||||||
Net accruals | 3 | 32 | 35 | ||||||||||
Cash paid | (1 | ) | (22 | ) | (23 | ) | |||||||
December 31, 2014 | $ | 4 | $ | 15 | $ | 19 | |||||||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||
Income Taxes | INCOME TAXES | ||||||||||||
The domestic and foreign components of income from continuing operations before income taxes were as follows (in millions). | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Domestic | $ | 1,251 | $ | 1,104 | $ | 869 | |||||||
Foreign | 496 | 632 | 649 | ||||||||||
Income from continuing operations before income taxes | $ | 1,747 | $ | 1,736 | $ | 1,518 | |||||||
The components of the provision for income taxes were as follows (in millions). | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Current: | |||||||||||||
Federal | $ | 529 | $ | 333 | $ | 419 | |||||||
State and local | 64 | 68 | 95 | ||||||||||
Foreign | 198 | 175 | 118 | ||||||||||
791 | 576 | 632 | |||||||||||
Deferred: | |||||||||||||
Federal | (112 | ) | 113 | (69 | ) | ||||||||
State and local | (16 | ) | (2 | ) | 9 | ||||||||
Foreign | (53 | ) | (28 | ) | (10 | ) | |||||||
(181 | ) | 83 | (70 | ) | |||||||||
Provision for income taxes | $ | 610 | $ | 659 | $ | 562 | |||||||
The Company has a regional ownership structure for its international operations. The regional holding companies are foreign corporations whose earnings will not be taxed in the U.S. until the earnings are repatriated to the U.S. The Company has not recorded a provision for deferred U.S. tax expense on the undistributed earnings of these foreign subsidiaries since the Company intends to indefinitely reinvest the earnings of these foreign subsidiaries outside the U.S. The amount of such undistributed earnings was approximately $329 million at December 31, 2014. The determination of the amount of unrecognized U.S. deferred income tax liability with respect to these undistributed earnings is not practicable. | |||||||||||||
The following table reconciles the Company's effective income tax rate to the U.S. federal statutory income tax rate of 35%. | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
U.S. federal statutory income tax rate | 35 | % | 35 | % | 35 | % | |||||||
State and local income taxes, net of federal tax benefit | 2 | % | 3 | % | 5 | % | |||||||
Effect of foreign operations | 2 | % | 2 | % | (1 | )% | |||||||
Domestic production activity deductions | (3 | )% | (2 | )% | (3 | )% | |||||||
Change in uncertain tax positions | (1 | )% | — | % | — | % | |||||||
Remeasurement gain on previously held equity interest | — | % | (2 | )% | — | % | |||||||
Other, net | — | % | 2 | % | 1 | % | |||||||
Effective income tax rate | 35 | % | 38 | % | 37 | % | |||||||
Components of deferred income tax assets and liabilities were as follows (in millions). | |||||||||||||
December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Deferred income tax assets: | |||||||||||||
Accounts receivable | $ | 3 | $ | 3 | |||||||||
Tax attribute carry-forward | 30 | 126 | |||||||||||
Unrealized loss on derivatives and foreign currency translation adjustments | (16 | ) | 2 | ||||||||||
Accrued liabilities and other | 243 | 202 | |||||||||||
Total deferred income tax assets | 260 | 333 | |||||||||||
Valuation allowance | (13 | ) | (18 | ) | |||||||||
Net deferred income tax assets | 247 | 315 | |||||||||||
Deferred income tax liabilities: | |||||||||||||
Intangible assets | (521 | ) | (421 | ) | |||||||||
Content rights | (140 | ) | (280 | ) | |||||||||
Equity method investments | (64 | ) | (131 | ) | |||||||||
Notes receivable | (8 | ) | (16 | ) | |||||||||
Other | (15 | ) | (31 | ) | |||||||||
Total deferred income tax liabilities | (748 | ) | (879 | ) | |||||||||
Net deferred income tax liabilities | $ | (501 | ) | $ | (564 | ) | |||||||
The Company’s deferred income tax assets and liabilities were reported on the consolidated balance sheets as follows (in millions). | |||||||||||||
December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Deferred income tax assets | $ | 87 | $ | 73 | |||||||||
Deferred income tax liabilities | (588 | ) | (637 | ) | |||||||||
Net deferred income tax liabilities | $ | (501 | ) | $ | (564 | ) | |||||||
The Company’s operating loss carry-forwards were reported on the consolidated balance sheets as follows (in millions). | |||||||||||||
Federal(a) | State | Foreign | |||||||||||
Operating loss carry-forwards | $ | 8 | $ | 603 | $ | 39 | |||||||
Deferred tax asset related to loss carry-forwards | $ | 3 | $ | 11 | $ | 8 | |||||||
Valuation allowance against loss carry-forwards | $ | — | $ | (9 | ) | $ | (4 | ) | |||||
Earliest expiration date of loss carry-forwards | 2028 | 2015 | 2015 | ||||||||||
(a) The use of the federal operating loss carry-forwards is subject to annual limitations. | |||||||||||||
A reconciliation of the beginning and ending amounts of unrecognized tax benefits (without related interest amounts) is as follows (in millions). | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Beginning balance | $ | 185 | $ | 128 | $ | 46 | |||||||
Additions based on tax positions related to the current year | 40 | 25 | 48 | ||||||||||
Additions for tax positions of prior years | 82 | 36 | 39 | ||||||||||
Additions for tax positions acquired in business combinations | 6 | 9 | — | ||||||||||
Reductions for tax positions of prior years | (129 | ) | (8 | ) | (4 | ) | |||||||
Settlements | — | (3 | ) | (1 | ) | ||||||||
Reductions due to lapse of statutes of limitations | (8 | ) | (2 | ) | — | ||||||||
Ending balance | $ | 176 | $ | 185 | $ | 128 | |||||||
The balances as of December 31, 2014, 2013 and 2012 included $176 million, $131 million and $109 million, respectively, of unrecognized tax benefits that, if recognized, would reduce the Company’s income tax expense and effective tax rate after giving effect to interest deductions and offsetting benefits from other tax jurisdictions. For the year ended December 31, 2014, increases in unrecognized tax benefits related to the uncertainty of allocation and taxation of income among multiple jurisdictions was more than offset by the movements of tax positions for which the ultimate deductibility is highly certain but for which there was uncertainty regarding the timing of such deductibility. | |||||||||||||
The Company and its subsidiaries file income tax returns in the U.S. and various state and foreign jurisdictions. The Company is currently under examination by the IRS for its 2011 and 2010 consolidated federal income tax returns. The Company does not anticipate any material adjustments. With few exceptions, the Company is no longer subject to audit by any jurisdiction for years prior to 2006. | |||||||||||||
It is reasonably possible that the total amount of unrecognized tax benefits related to certain of the Company's uncertain tax positions could decrease by as much as $80 million within the next twelve months as a result of ongoing audits, lapses of statutes of limitations or regulatory developments. | |||||||||||||
As of December 31, 2014, 2013 and 2012, the Company had accrued approximately $17 million, $11 million and $9 million, respectively, of total interest and penalties payable related to unrecognized tax benefits. The Company recognizes interest and penalties related to unrecognized tax benefits as a component of income tax expense. |
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Earnings Per Share [Abstract] | |||||||||||||
Net Income Per Share Available To Discovery Communications, Inc. Stockholders | EARNINGS PER SHARE | ||||||||||||
The Company follows the two-class method in calculating earnings per share. The two-class method calculates earnings | |||||||||||||
per share by distinguishing between the classes of common securities based on the proportionate participation rights of each | |||||||||||||
security type in the Company's undistributed income. The Company's Series A, B and C common stock and the Series C convertible preferred stock are treated as one class for purposes of applying the two-class method, because they have substantially equal rights and share equally on an as converted basis with holders of Series A, B and C common stock with respect to income available to Discovery Communications, Inc. Following the 2014 Share Dividend on August 6, 2014, each share of Series C convertible preferred stock was convertible into two shares of Series C common stock. As a result of the change in conversion ratio, which did not impact the economic rights of any of the stockholders, and which occurred as a result of the 2014 Share Dividend, the Company recast all prior period earnings per share presentations to be consistent with the current period. | |||||||||||||
The table below sets forth the computation for income available to Discovery Communications, Inc. stockholders (in millions). | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Numerator: | |||||||||||||
Income from continuing operations, net of taxes | $ | 1,137 | $ | 1,077 | $ | 956 | |||||||
Less: | |||||||||||||
Allocation of undistributed income from continuing operations to Series A convertible preferred stock | (236 | ) | (212 | ) | (179 | ) | |||||||
Net income attributable to noncontrolling interests | (2 | ) | (1 | ) | (2 | ) | |||||||
Net loss (income) attributable to redeemable noncontrolling interests | 4 | (1 | ) | — | |||||||||
Redeemable noncontrolling interest adjustments to redemption value | (1 | ) | (2 | ) | — | ||||||||
Income from continuing operations available to Discovery Communications, Inc. Series A, B and C common stockholders and Series C convertible preferred stockholders, net of taxes | $ | 902 | $ | 861 | $ | 775 | |||||||
Loss from discontinued operations available to Discovery Communications, Inc. stockholders, net of taxes | $ | — | $ | — | $ | (11 | ) | ||||||
Add: | |||||||||||||
Allocation of undistributed loss from discontinued operations to Series A convertible preferred stock | — | — | 2 | ||||||||||
Loss from discontinued operations available to Discovery Communications, Inc. stockholders, net of taxes | $ | — | $ | — | $ | (9 | ) | ||||||
Net income available to Discovery Communications, Inc. stockholders, net of taxes | $ | 902 | $ | 861 | $ | 766 | |||||||
The table below sets forth the income allocations used in calculating basic income available to Series A, B and C common stockholders and Series C convertible preferred stockholders (in millions). | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Allocation of income from continuing operations available to Discovery Communications, Inc. stockholders, net of taxes: | |||||||||||||
Series A, B and C common stockholders | $ | 758 | $ | 727 | $ | 631 | |||||||
Series C convertible preferred stockholders | 144 | 134 | 144 | ||||||||||
Total | $ | 902 | $ | 861 | $ | 775 | |||||||
Allocation of loss from discontinued operations available to Discovery Communication, Inc. stockholders, net of taxes: | |||||||||||||
Series A, B and C common stockholders | $ | — | $ | — | $ | (7 | ) | ||||||
Series C convertible preferred stockholders | — | — | (2 | ) | |||||||||
Total | $ | — | $ | — | $ | (9 | ) | ||||||
Allocation of net income available to Discovery Communications Inc. stockholders, net of taxes: | |||||||||||||
Series A, B and C common stockholders | $ | 758 | $ | 727 | $ | 624 | |||||||
Series C convertible preferred stockholders | 144 | 134 | 142 | ||||||||||
Total | $ | 902 | $ | 861 | $ | 766 | |||||||
The table below sets forth the income allocations used in calculating diluted income available to Series A, B and C common stockholders (in millions). | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Numerator: | |||||||||||||
Income from continuing operations, net of taxes | $ | 1,137 | $ | 1,077 | $ | 956 | |||||||
Less: | |||||||||||||
Net income attributable to noncontrolling interests | (2 | ) | (1 | ) | (2 | ) | |||||||
Net loss (income) attributable to redeemable noncontrolling interests | 4 | (1 | ) | — | |||||||||
Redeemable noncontrolling interest adjustments to redemption value | (1 | ) | (2 | ) | — | ||||||||
Income from continuing operations available to Discovery Communications, Inc. stockholders, net of taxes | $ | 1,138 | $ | 1,073 | $ | 954 | |||||||
Loss from discontinued operations available to Discovery Communications, Inc. stockholders, net of taxes | — | — | (11 | ) | |||||||||
Net income available to Discovery Communications, Inc. stockholders, net of taxes | $ | 1,138 | $ | 1,073 | $ | 943 | |||||||
The table below sets forth the income allocations used in calculating diluted income available to Series C convertible preferred stockholders (in millions). Net income available to Discovery Communications, Inc. Series C convertible preferred stockholders for diluted net income per share is included in net income available to Discovery Communications, Inc. Series A, B and C common stockholders for diluted net income per share. | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Numerator: | |||||||||||||
Income from continuing operations, net of taxes | $ | 143 | $ | 133 | $ | 143 | |||||||
Loss from discontinued operations, net of taxes | — | — | (2 | ) | |||||||||
Net income | $ | 143 | $ | 133 | $ | 141 | |||||||
The table below sets forth the weighted-average number of shares outstanding utilized in determining the denominator for basic and diluted earnings per share (in millions). | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Denominator: | |||||||||||||
Weighted-average Series A, B and C common shares outstanding — basic | 454 | 484 | 498 | ||||||||||
Weighted-average impact of assumed preferred stock conversion | 227 | 231 | 254 | ||||||||||
Weighted-average dilutive effect of equity awards | 6 | 7 | 7 | ||||||||||
Weighted-average Series A, B and C common shares outstanding — diluted | 687 | 722 | 759 | ||||||||||
Weighted-average Series C convertible preferred stock outstanding — basic and diluted | 43 | 45 | 57 | ||||||||||
The weighted-average number of diluted shares outstanding adjusts the weighted-average number of shares of Series A, B and C common stock outstanding for the potential dilution that would occur if common stock equivalents, including convertible preferred stock and equity-based awards, were converted into common stock or exercised, calculated using the treasury stock | |||||||||||||
method. Series A, B and C diluted common stock includes the impact of the conversion of Series A preferred stock, the impact of the conversion of Series C preferred stock, and the impact of stock-based compensation. Only outstanding PRSUs whose performance targets have been achieved as of the last day of the most recent period are included in the dilutive effect calculation. | |||||||||||||
The table below sets forth the Company's calculated earnings per share. | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Basic net income per share available to Discovery Communications, Inc. Series A, B and C common and Series C convertible preferred stockholders: | |||||||||||||
Continuing Operations: | |||||||||||||
Series A, B and C common stockholders | $ | 1.67 | $ | 1.5 | $ | 1.27 | |||||||
Series C convertible preferred stockholders | $ | 3.34 | $ | 3 | $ | 2.54 | |||||||
Discontinued Operations: | |||||||||||||
Series A, B and C common stockholders | $ | — | $ | — | $ | (0.01 | ) | ||||||
Series C convertible preferred stockholders | $ | — | $ | — | $ | (0.02 | ) | ||||||
Net Income: | |||||||||||||
Series A, B and C common stockholders | $ | 1.67 | $ | 1.5 | $ | 1.25 | |||||||
Series C convertible preferred stockholders | $ | 3.34 | $ | 3 | $ | 2.5 | |||||||
Diluted earnings per share available to Discovery Communications, Inc. Series A, B and C common and Series C convertible preferred stockholders: | |||||||||||||
Continuing Operations: | |||||||||||||
Series A, B and C common stockholders | $ | 1.66 | $ | 1.49 | $ | 1.26 | |||||||
Series C convertible preferred stockholders | $ | 3.32 | $ | 2.98 | $ | 2.52 | |||||||
Discontinued Operations: | |||||||||||||
Series A, B and C common stockholders | $ | — | $ | — | $ | (0.01 | ) | ||||||
Series C convertible preferred stockholders | $ | — | $ | — | $ | (0.02 | ) | ||||||
Net Income: | |||||||||||||
Series A, B and C common stockholders | $ | 1.66 | $ | 1.49 | $ | 1.24 | |||||||
Series C convertible preferred stockholders | $ | 3.32 | $ | 2.98 | $ | 2.48 | |||||||
Income per share amounts may not sum since each is calculated independently. | |||||||||||||
Series C convertible preferred earnings per share amounts may not recalculate due to rounding. | |||||||||||||
The computation of the diluted earnings per share of Series A, B and C common stockholders assumes the conversion of Series A and C convertible preferred stock, while the diluted earnings per share amounts of Series C convertible preferred stockholders does not assume conversion of those shares. | |||||||||||||
The table below presents the details of the equity-based awards and preferred shares that were excluded from the calculation of diluted earnings per share (in millions). | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Anti-dilutive stock options and RSUs | 4 | 2 | — | ||||||||||
PRSUs whose performance targets are not achieved | 3 | 2 | 4 | ||||||||||
Supplemental_Disclosures
Supplemental Disclosures | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Disclosure Text Block Supplement [Abstract] | |||||||||||||||||||||
Supplemental Disclosures | SUPPLEMENTAL DISCLOSURES | ||||||||||||||||||||
Valuation and Qualifying Accounts | |||||||||||||||||||||
Changes in valuation and qualifying accounts consisted of the following (in millions). | |||||||||||||||||||||
Beginning | Additions | Write-offs | Utilization | End | |||||||||||||||||
of Year | of Year | ||||||||||||||||||||
2014 | |||||||||||||||||||||
Allowance for doubtful accounts | $ | 16 | $ | 28 | $ | (5 | ) | $ | — | $ | 39 | ||||||||||
Deferred tax valuation allowance | 18 | 1 | (5 | ) | (1 | ) | 13 | ||||||||||||||
2013 | |||||||||||||||||||||
Allowance for doubtful accounts | 12 | 6 | (2 | ) | — | 16 | |||||||||||||||
Deferred tax valuation allowance | 23 | 7 | (11 | ) | (1 | ) | 18 | ||||||||||||||
2012 | |||||||||||||||||||||
Allowance for doubtful accounts | 12 | 4 | (4 | ) | — | 12 | |||||||||||||||
Deferred tax valuation allowance | 24 | 8 | (9 | ) | — | 23 | |||||||||||||||
Accrued Liabilities | |||||||||||||||||||||
Accrued liabilities consisted of the following (in millions). | |||||||||||||||||||||
December 31, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Accrued payroll and related benefits | $ | 441 | $ | 373 | |||||||||||||||||
Content rights payable | 198 | 212 | |||||||||||||||||||
Current portion of equity-based compensation liabilities | 32 | 85 | |||||||||||||||||||
Accrued interest | 50 | 43 | |||||||||||||||||||
Accrued income taxes | 120 | 71 | |||||||||||||||||||
Other accrued liabilities | 253 | 208 | |||||||||||||||||||
Total accrued liabilities | $ | 1,094 | $ | 992 | |||||||||||||||||
Other (Expense) Income, Net | |||||||||||||||||||||
Other (expense) income, net consisted of the following (in millions). | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||
Foreign currency (losses) gains, net | $ | (22 | ) | $ | 23 | $ | (4 | ) | |||||||||||||
Gain (loss) on derivative instruments | 1 | (56 | ) | (2 | ) | ||||||||||||||||
Remeasurement gain on previously held equity interest | 29 | 92 | — | ||||||||||||||||||
Other expense, net | (17 | ) | (10 | ) | (1 | ) | |||||||||||||||
Total other (expense) income, net | $ | (9 | ) | $ | 49 | $ | (7 | ) | |||||||||||||
Cash proceeds from equity-based plans, net | |||||||||||||||||||||
Cash proceeds from equity-based plans, net consisted of the following (in millions). | |||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||
Tax settlements associated with equity-based plans | $ | (27 | ) | $ | (22 | ) | $ | (3 | ) | ||||||||||||
Proceeds from issuance of common stock in connection with equity based plans | 41 | 51 | 84 | ||||||||||||||||||
Excess tax benefits from equity-based compensation | 30 | 44 | 38 | ||||||||||||||||||
Total cash proceeds from equity-based plans, net | $ | 44 | $ | 73 | $ | 119 | |||||||||||||||
Related_Party_Transactions
Related Party Transactions | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Related Party Transactions [Abstract] | |||||||||||||
Related Party Transactions | RELATED PARTY TRANSACTIONS | ||||||||||||
In the normal course of business, the Company enters into transactions with related parties. Related parties include entities that share common directorship, such as Liberty Global plc (“Liberty Global”), Liberty Media Corporation ("Liberty Media"), Liberty Broadband Corporation ("Liberty Broadband") and their subsidiaries and equity method investees (together the “Liberty Group”). Discovery’s Board of Directors includes Mr. Malone, who is Chairman of the Board of Liberty Global and beneficially owns approximately 28% of the aggregate voting power with respect to the election of directors of Liberty Global. Mr. Malone is Chairman of the Board of Liberty Media and beneficially owns approximately 46% of the aggregate voting power with respect to the election of directors of Liberty Media. The majority of the revenue earned from the Liberty Group relates to multi-year network distribution arrangements. | |||||||||||||
Other related party transactions include revenues and expenses for content and services provided to or acquired from equity method investees, such as OWN and All3Media. On September 23, 2014, Liberty Global and the Company each acquired 50% of All3Media, a production studio company, and jointly control the equity method investment. | |||||||||||||
Other related party revenue and service charges included in the table below primarily consist of distribution revenue from J:COM earned by Discovery Japan. Following the consolidation of Discovery Japan (see Note 3), revenues earned from J:COM are reflected in related party revenues. | |||||||||||||
Following the Company's consolidation of Discovery Family on September 23, 2014, transactions with Hasbro Studios for content are reflected as related party expenses. Discovery Family has a seven year programming arrangement with Hasbro Studios. | |||||||||||||
The table below presents a summary of the transactions with related parties (in millions). | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Revenues and service charges: | |||||||||||||
Liberty Group(a) | $ | 157 | $ | 120 | $ | 54 | |||||||
Equity method investees | 104 | 75 | 94 | ||||||||||
Other | 34 | 28 | 7 | ||||||||||
Total revenues and service charges | $ | 295 | $ | 223 | $ | 155 | |||||||
Interest income(b) | $ | 33 | $ | 35 | $ | 29 | |||||||
Expenses | $ | (37 | ) | $ | (27 | ) | $ | (22 | ) | ||||
| |||||||||||||
(a) The 2013 increase in revenue from transactions with the Liberty Group is primarily attributable to activity with Charter Communications, Inc. ("Charter") and Virgin Media, Inc. ("Virgin Media"). In May 2013, Liberty Media completed its equity method investment in Charter; Mr. Malone is on Charter's board of directors. In June 2013, Liberty Global announced it had completed its acquisition of Virgin Media. Transactions with Charter and Virgin Media have been reported as related party transactions since the date that they became related parties. | |||||||||||||
(b) The Company records interest earnings from loans to equity method investees as a component of income (loss) from equity method investees, net, in the consolidated statements of operations. (See Note 4.) | |||||||||||||
The table below presents receivables due from related parties (in millions). | |||||||||||||
December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Receivables | $ | 42 | $ | 41 | |||||||||
Note receivable (See Note 4.) | $ | 457 | $ | 483 | |||||||||
Commitments_And_Contingencies
Commitments And Contingencies | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES | ||||||||||||||||||||
Contractual Commitments | |||||||||||||||||||||
As of December 31, 2014, the Company’s significant contractual commitments, including related payments due by period, were as follows (in millions). | |||||||||||||||||||||
Leases | |||||||||||||||||||||
Year Ending December 31, | Operating | Capital | Content | Other | Total | ||||||||||||||||
2015 | $ | 77 | $ | 44 | $ | 735 | $ | 314 | $ | 1,170 | |||||||||||
2016 | 71 | 35 | 318 | 219 | 643 | ||||||||||||||||
2017 | 61 | 31 | 197 | 200 | 489 | ||||||||||||||||
2018 | 55 | 19 | 105 | 159 | 338 | ||||||||||||||||
2019 | 40 | 18 | 75 | 100 | 233 | ||||||||||||||||
Thereafter | 99 | 104 | 100 | 232 | 535 | ||||||||||||||||
Total minimum payments | 403 | 251 | 1,530 | 1,224 | 3,408 | ||||||||||||||||
Amounts representing interest | — | (64 | ) | — | — | (64 | ) | ||||||||||||||
Total | $ | 403 | $ | 187 | $ | 1,530 | $ | 1,224 | $ | 3,344 | |||||||||||
The Company enters into multi-year lease arrangements for transponders, office space, studio facilities, and other equipment. Leases are not cancelable prior to their expiration. | |||||||||||||||||||||
Content purchase commitments are associated with third-party producers and sports associations for content that airs on the television networks. Production contracts generally require: purchase of a specified number of episodes; payments over the term of the license; and include both programs that have been delivered and are available for airing and programs that have not yet been produced or sporting events that have not yet taken place. If the content is ultimately never produced, the Company's commitments expire without obligation. The commitments disclosed above exclude content liabilities recognized on the consolidated balance sheet. | |||||||||||||||||||||
Other purchase obligations include agreements with certain vendors and suppliers for the purchase of goods and services whereby the underlying agreements are enforceable, legally binding and specify all significant terms. Significant purchase obligations include transmission services, television rating services, marketing research, employment contracts, equipment purchases, and information technology and other services. Some of these contracts do not require the purchase of fixed or minimum quantities and generally may be terminated with a 30-day to 60-day advance notice without penalty, and are not included in the table above past the 30-day to 60-day advance notice period. Amounts related to employment contracts include base compensation and do not include compensation contingent on future events. | |||||||||||||||||||||
In addition to the amounts in the above table, the Company had funding commitments to certain equity method investees of $11 million as of December 31, 2014. The Company may provide uncommitted additional funding to its equity method investments. | |||||||||||||||||||||
Contingencies | |||||||||||||||||||||
Put Rights | |||||||||||||||||||||
The Company has granted put rights related to certain equity method investments and consolidated subsidiaries. Harpo has the right to require the Company to purchase all or part of its interest in OWN for fair value at various dates. No amounts have been recorded by the Company for the Harpo put right (see Note 4). TF1 has the right to require the Company to purchase its remaining shares in Eurosport (see Note 3). As of December 31, 2014, the TF1 put right is recorded at $558 million (see Note 12). The separate written put for Eurosport France does not qualify for redeemable equity classification, but as an accrued liability and is reported at a fair value of $4 million as of December 31, 2014. Hasbro has the right to put the entirety of its remaining 40% non-controlling interest to the Company for one year after December 31, 2021, or in the event a Discovery performance obligation related to Discovery Family is not met. The Company recorded the Hasbro put right as redeemable noncontrolling interest. (See Note 12.) Additionally, J:COM has the right to require the Company to purchase its redeemable interest in Discovery Japan. The Company recorded the J:COM put right as redeemable noncontrolling interest (see Note 12). | |||||||||||||||||||||
Legal Matters | |||||||||||||||||||||
The Company is party to various lawsuits and claims in the ordinary course of business, including claims related to employees, vendors, other business partners or patent issues. However, a determination as to the amount of the accrual required for such contingencies is highly subjective and requires judgment about future events. Although the outcome of these matters cannot be predicted with certainty and the impact of the final resolution of these matters on the Company's results of operations in a particular subsequent reporting period is not known, management does not believe that the resolution of these matters will have a material adverse effect on the Company's consolidated financial position, future results of operations or liquidity. | |||||||||||||||||||||
Guarantees | |||||||||||||||||||||
There were no guarantees recorded as of December 31, 2014 and December 31, 2013. | |||||||||||||||||||||
The Company may provide or receive indemnities intended to allocate business transaction risks. Similarly, the Company may remain contingently liable for certain obligations of a divested business in the event that a third party does not fulfill its obligations under an indemnification obligation. The Company records a liability for its indemnification obligations and other contingent liabilities when probable and estimable. There were no material amounts for indemnifications or other contingencies recorded as of December 31, 2014 and 2013. |
Reportable_Segments
Reportable Segments | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Segment Reporting [Abstract] | |||||||||||||
Reportable Segments | REPORTABLE SEGMENTS | ||||||||||||
The Company’s operating segments are determined based on (i) financial information reviewed by its CODM, the Chief Executive Officer ("CEO"), (ii) internal management and related reporting structure, and (iii) the basis upon which the CEO makes resource allocation decisions. For the year-end December 31, 2014, the Company changed its organizational structure and reorganized its production studios into an operating segment. Previously, components of this segment were classified in the U.S. Networks and International Networks reportable segments. Production Studios does not meet the quantitative thresholds for a separate reportable segment and has been combined with the Education segment, referred to as Education and Other for financial statement presentation. All prior period amounts have been recast to conform to the current year presentation. | |||||||||||||
The accounting policies of the reportable segments are the same as the Company’s, except that certain inter-segment transactions that are eliminated for consolidation are not eliminated at the segment level. Inter-segment transactions primarily include the purchase of advertising and content between segments. | |||||||||||||
The Company evaluates the operating performance of its segments based on financial measures such as revenues and adjusted operating income before depreciation and amortization (“Adjusted OIBDA”). Adjusted OIBDA is defined as revenues less costs of revenues and selling, general and administrative expenses excluding: (i) mark-to-market equity-based compensation, (ii) depreciation and amortization, (iii) amortization of deferred launch incentives, (iv) restructuring and other charges, (v) certain impairment charges and (vi) gains and losses on business and asset dispositions. The Company uses this measure to assess the operating results and performance of its segments, perform analytical comparisons, identify strategies to improve performance and allocate resources to each segment. The Company believes Adjusted OIBDA is relevant to investors because it allows them to analyze the operating performance of each segment using the same metric management uses. The Company excludes mark-to-market equity-based compensation, restructuring and other charges, certain impairment charges, and gains and losses on business and asset dispositions from the calculation of Adjusted OIBDA due to their volatility. The Company also excludes depreciation of fixed assets, amortization of intangible assets and deferred launch incentives, as these amounts do not represent cash payments in the current reporting period. Certain corporate expenses are excluded from segment results to enable executive management to evaluate segment performance based upon the decisions of segment executives. Adjusted OIBDA should be considered in addition to, but not a substitute for, operating income, net income and other measures of financial performance reported in accordance with GAAP. The tables below present summarized financial information for each of the Company’s reportable segments, other operating segments and corporate and inter-segment eliminations (in millions). | |||||||||||||
Revenues by Segment | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
U.S. Networks | $ | 2,950 | $ | 2,947 | $ | 2,746 | |||||||
International Networks | 3,157 | 2,459 | 1,618 | ||||||||||
Education and Other | 160 | 140 | 128 | ||||||||||
Corporate and inter-segment eliminations | (2 | ) | (11 | ) | (5 | ) | |||||||
Total revenues | $ | 6,265 | $ | 5,535 | $ | 4,487 | |||||||
Adjusted OIBDA by Segment | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
U.S. Networks | $ | 1,680 | $ | 1,712 | $ | 1,628 | |||||||
International Networks | 1,124 | 949 | 727 | ||||||||||
Education and Other | 6 | 30 | 19 | ||||||||||
Corporate and inter-segment eliminations | (319 | ) | (289 | ) | (275 | ) | |||||||
Total Adjusted OIBDA | $ | 2,491 | $ | 2,402 | $ | 2,099 | |||||||
Reconciliation of Total Adjusted OIBDA to Income from continuing operations before income taxes | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Total Adjusted OIBDA | $ | 2,491 | $ | 2,402 | $ | 2,099 | |||||||
Amortization of deferred launch incentives | (11 | ) | (18 | ) | (20 | ) | |||||||
Mark-to-market equity-based compensation | (31 | ) | (136 | ) | (97 | ) | |||||||
Depreciation and amortization | (329 | ) | (276 | ) | (117 | ) | |||||||
Restructuring and other charges | (90 | ) | (16 | ) | (6 | ) | |||||||
Gain on disposition | 31 | 19 | — | ||||||||||
Operating income | 2,061 | 1,975 | 1,859 | ||||||||||
Interest expense | (328 | ) | (306 | ) | (248 | ) | |||||||
Income (loss) from equity investees, net | 23 | 18 | (86 | ) | |||||||||
Other (expense) income, net | (9 | ) | 49 | (7 | ) | ||||||||
Income from continuing operations before income taxes | $ | 1,747 | $ | 1,736 | $ | 1,518 | |||||||
Total Assets by Segment | |||||||||||||
December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
U.S. Networks | $ | 3,315 | $ | 2,976 | |||||||||
International Networks | 5,577 | 4,776 | |||||||||||
Education and Other | 186 | 143 | |||||||||||
Corporate and inter-segment eliminations | 6,936 | 7,084 | |||||||||||
Total assets | $ | 16,014 | $ | 14,979 | |||||||||
Total assets for corporate and inter-segment eliminations include goodwill that is allocated to the Company's segments to account for goodwill. The presentation of segment assets in the table above is consistent with the financial reports that are reviewed by the Company's CEO. Goodwill for the U.S. Networks and International Networks reporting segments is disclosed in Note 9. | |||||||||||||
Content Amortization and Impairment Expense by Segment | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
U.S. Networks | $ | 732 | $ | 626 | $ | 558 | |||||||
International Networks | 826 | 564 | 302 | ||||||||||
Education and Other | 4 | 3 | 2 | ||||||||||
Corporate and inter-segment eliminations | (5 | ) | (3 | ) | 3 | ||||||||
Total content amortization and impairment expense | $ | 1,557 | $ | 1,190 | $ | 865 | |||||||
Content amortization and impairment expenses are generally included in costs of revenues on the consolidated statements of operations (see Note 7). | |||||||||||||
Revenues by Country | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
U.S. | $ | 3,081 | $ | 3,071 | $ | 2,871 | |||||||
Non-U.S. | 3,184 | 2,464 | 1,616 | ||||||||||
Total revenues | $ | 6,265 | $ | 5,535 | $ | 4,487 | |||||||
Distribution and advertising revenues are attributed to each country based on viewer location. Other revenues are attributed to each country based on customer location. | |||||||||||||
Property and Equipment by Country | |||||||||||||
December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
U.S. | $ | 261 | $ | 261 | |||||||||
U.K. | 152 | 115 | |||||||||||
Other non-U.S. | 141 | 138 | |||||||||||
Total property and equipment, net | $ | 554 | $ | 514 | |||||||||
Property and equipment balances are allocated to each country based on the location of the asset. |
Selected_Quarterly_Financial_D
Selected Quarterly Financial Data (Unaudited) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Selected Quarterly Financial Information [Abstract] | |||||||||||||||||
Selected Quarterly Financial Data (Unaudited) | SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) | ||||||||||||||||
2014(a)(c) | |||||||||||||||||
1st quarter | 2nd quarter | 3rd quarter | 4th quarter | ||||||||||||||
Revenues | $ | 1,411 | $ | 1,610 | $ | 1,568 | $ | 1,676 | |||||||||
Operating income | 434 | 640 | 511 | 476 | |||||||||||||
Net income | 231 | 384 | 287 | 235 | |||||||||||||
Net income available to Discovery Communications, Inc. | 230 | 379 | 280 | 250 | |||||||||||||
Earnings per share available to Discovery Communications, Inc. Series A, B and C common stockholders | |||||||||||||||||
Basic | $ | 0.33 | $ | 0.55 | $ | 0.41 | $ | 0.38 | |||||||||
Diluted | $ | 0.33 | $ | 0.54 | $ | 0.41 | $ | 0.38 | |||||||||
2013(b)(c) | |||||||||||||||||
1st quarter | 2nd quarter | 3rd quarter | 4th quarter | ||||||||||||||
Revenues | $ | 1,156 | $ | 1,467 | $ | 1,375 | $ | 1,537 | |||||||||
Operating income | 416 | 549 | 488 | 522 | |||||||||||||
Net income | 231 | 300 | 256 | 290 | |||||||||||||
Net income available to Discovery Communications, Inc. | 231 | 300 | 255 | 289 | |||||||||||||
Earnings per share available to Discovery Communications, Inc. Series A, B and C common stockholders | |||||||||||||||||
Basic | $ | 0.32 | $ | 0.41 | $ | 0.36 | $ | 0.41 | |||||||||
Diluted | $ | 0.32 | $ | 0.41 | $ | 0.35 | $ | 0.41 | |||||||||
(a) On September 23, 2014, the Company acquired an additional 10% ownership interest in Discovery Family and, as a result, the accounting for Discovery Family was changed from an equity method investment to a consolidated subsidiary. On May 30, 2014, the Company acquired a controlling interest in Eurosport and, as a result, the accounting for Eurosport was changed from an equity method investment to a consolidated subsidiary. (See Note 3.) | |||||||||||||||||
(b)On April 9, 2013, the Company acquired SBS Nordic. The Company included the operations of this acquisition in the Company's consolidated financial statements as of the acquisition date. (See Note 3.) | |||||||||||||||||
(c) Per share data for earnings per share has been retroactively adjusted to give effect to the 2-for-1 split of the Company’s common stock on August 6, 2014. (See Note 18.) |
Condensed_Consolidating_Financ
Condensed Consolidating Financial Statements | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||||||||||||||||||||||||||||
Condensed Consolidating Financial Statements | CONDENSED CONSOLIDATING FINANCIAL INFORMATION | ||||||||||||||||||||||||||||
Overview | |||||||||||||||||||||||||||||
As of December 31, 2014 and 2013, all of the outstanding senior notes (see Note 10) have been issued by DCL, a wholly owned subsidiary of the Company, pursuant to a Registration Statement on Form S-3 filed with the U.S. Securities and Exchange Commission ("SEC") (the “Shelf Registration”). The Company fully and unconditionally guarantees the senior notes on an unsecured basis. The Company, DCL, and/or Discovery Communications Holding LLC (“DCH”) (collectively the “Issuers”) may issue additional debt securities under the Shelf Registration that are fully and unconditionally guaranteed by the other Issuers. | |||||||||||||||||||||||||||||
Set forth below are condensed consolidating financial statements presenting the financial position, results of operations and comprehensive income and cash flows of (i) the Company, (ii) DCH, (iii) DCL, (iv) the non-guarantor subsidiaries of DCL on a combined basis, (v) the other non-guarantor subsidiaries of the Company on a combined basis, and (vi) reclassifications and eliminations necessary to arrive at the consolidated financial statement balances for the Company. DCL and the non-guarantor subsidiaries of DCL are the primary operating subsidiaries of the Company. DCL primarily includes the Discovery Channel and TLC networks in the U.S. The non-guarantor subsidiaries of DCL include substantially all of the Company’s other U.S. and international networks, education businesses, and most of the Company’s websites and digital distribution arrangements. The non-guarantor subsidiaries of DCL are wholly owned subsidiaries of DCL with the exception of certain equity method investments. DCL is a wholly owned subsidiary of DCH. The Company wholly owns DCH through a 33 1/3% direct ownership interest and a 66 2/3% indirect ownership interest through Discovery Holding Company (“DHC”), a wholly owned subsidiary of the Company. DHC is included in the other non-guarantor subsidiaries of the Company. | |||||||||||||||||||||||||||||
Basis of Presentation | |||||||||||||||||||||||||||||
Solely for purposes of presenting the condensed consolidating financial statements, investments in the Company’s subsidiaries have been accounted for by their respective parent company using the equity method. Accordingly, in the following condensed consolidating financial statements the equity method has been applied to (i) the Company’s interests in DCH and the other non-guarantor subsidiaries of the Company, (ii) DCH’s interest in DCL, and (iii) DCL’s interests in the non-guarantor subsidiaries of DCL. Inter-company accounts and transactions have been eliminated to arrive at the consolidated financial statement amounts for the Company. The Company’s accounting bases in all subsidiaries, including goodwill and recognized intangible assets, have been “pushed down” to the applicable subsidiaries. | |||||||||||||||||||||||||||||
The operations of certain of the Company’s international subsidiaries are excluded from the Company’s consolidated U.S. income tax return. Tax expense related to permanent differences has been allocated to the entity that created the difference. Tax expense related to temporary differences has been allocated to the entity that created the difference, where identifiable. The remaining temporary differences are allocated to each entity included in the Company’s consolidated U.S. income tax return based on each entity’s relative pretax income. Deferred taxes have been allocated based upon the temporary differences between the carrying amounts of the respective assets and liabilities of the applicable entities. | |||||||||||||||||||||||||||||
The condensed consolidating financial statements should be read in conjunction with the consolidated financial statements of the Company. | |||||||||||||||||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Discovery | DCH | DCL | Non-Guarantor | Other Non- | Reclassifications | Discovery and | |||||||||||||||||||||||
Subsidiaries of | Guarantor | and | Subsidiaries | ||||||||||||||||||||||||||
DCL | Subsidiaries of Discovery | Eliminations | |||||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | — | $ | 8 | $ | 359 | $ | — | $ | — | $ | 367 | |||||||||||||||
Receivables, net | — | — | 416 | 1,017 | — | — | 1,433 | ||||||||||||||||||||||
Content rights, net | — | — | 8 | 321 | — | — | 329 | ||||||||||||||||||||||
Deferred income taxes | — | — | 40 | 47 | — | — | 87 | ||||||||||||||||||||||
Prepaid expenses and other current assets | — | 11 | 164 | 100 | — | — | 275 | ||||||||||||||||||||||
Inter-company trade receivables, net | — | — | 151 | — | — | (151 | ) | — | |||||||||||||||||||||
Total current assets | — | 11 | 787 | 1,844 | — | (151 | ) | 2,491 | |||||||||||||||||||||
Investment in and advances to subsidiaries | 5,678 | 5,669 | 7,750 | — | 3,800 | (22,897 | ) | — | |||||||||||||||||||||
Noncurrent content rights, net | — | — | 613 | 1,360 | — | — | 1,973 | ||||||||||||||||||||||
Goodwill | — | — | 3,769 | 4,467 | — | — | 8,236 | ||||||||||||||||||||||
Intangible assets, net | — | — | 307 | 1,664 | — | — | 1,971 | ||||||||||||||||||||||
Equity method investments | — | — | 21 | 623 | — | — | 644 | ||||||||||||||||||||||
Other noncurrent assets | — | 20 | 150 | 549 | — | (20 | ) | 699 | |||||||||||||||||||||
Total assets | $ | 5,678 | $ | 5,700 | $ | 13,397 | $ | 10,507 | $ | 3,800 | $ | (23,068 | ) | $ | 16,014 | ||||||||||||||
LIABILITIES AND EQUITY | |||||||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||||||
Current portion of debt | $ | — | $ | — | $ | 1,084 | $ | 23 | $ | — | $ | — | $ | 1,107 | |||||||||||||||
Other current liabilities | 73 | — | 433 | 991 | — | — | 1,497 | ||||||||||||||||||||||
Inter-company trade payables, net | — | — | — | 151 | — | (151 | ) | — | |||||||||||||||||||||
Total current liabilities | 73 | — | 1,517 | 1,165 | — | (151 | ) | 2,604 | |||||||||||||||||||||
Noncurrent portion of debt | — | — | 5,868 | 178 | — | — | 6,046 | ||||||||||||||||||||||
Other noncurrent liabilities | 3 | — | 343 | 665 | 22 | (20 | ) | 1,013 | |||||||||||||||||||||
Total liabilities | 76 | — | 7,728 | 2,008 | 22 | (171 | ) | 9,663 | |||||||||||||||||||||
Redeemable noncontrolling interests | — | — | — | 747 | — | — | 747 | ||||||||||||||||||||||
Equity attributable to Discovery Communications, Inc. | 5,602 | 5,700 | 5,669 | 7,752 | 3,778 | (22,899 | ) | 5,602 | |||||||||||||||||||||
Noncontrolling interests | — | — | — | — | — | 2 | 2 | ||||||||||||||||||||||
Total equity | 5,602 | 5,700 | 5,669 | 7,752 | 3,778 | (22,897 | ) | 5,604 | |||||||||||||||||||||
Total liabilities and equity | $ | 5,678 | $ | 5,700 | $ | 13,397 | $ | 10,507 | $ | 3,800 | $ | (23,068 | ) | $ | 16,014 | ||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Discovery | DCH | DCL | Non-Guarantor | Other Non- | Reclassifications | Discovery and | |||||||||||||||||||||||
Subsidiaries of | Guarantor | and | Subsidiaries | ||||||||||||||||||||||||||
DCL | Subsidiaries of Discovery | Eliminations | |||||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | — | $ | 123 | $ | 285 | $ | — | $ | — | $ | 408 | |||||||||||||||
Receivables, net | — | — | 449 | 922 | — | — | 1,371 | ||||||||||||||||||||||
Content rights, net | — | — | 12 | 265 | — | — | 277 | ||||||||||||||||||||||
Deferred income taxes | — | — | 31 | 42 | — | — | 73 | ||||||||||||||||||||||
Prepaid expenses and other current assets | 52 | — | 143 | 86 | — | — | 281 | ||||||||||||||||||||||
Inter-company trade receivables, net | — | — | 286 | — | — | (286 | ) | — | |||||||||||||||||||||
Total current assets | 52 | — | 1,044 | 1,600 | — | (286 | ) | 2,410 | |||||||||||||||||||||
Investment in and advances to subsidiaries | 6,147 | 6,155 | 7,135 | — | 4,112 | (23,549 | ) | — | |||||||||||||||||||||
Noncurrent content rights, net | — | — | 615 | 1,268 | — | — | 1,883 | ||||||||||||||||||||||
Goodwill | — | — | 3,769 | 3,572 | — | — | 7,341 | ||||||||||||||||||||||
Intangible assets, net | — | — | 320 | 1,245 | — | — | 1,565 | ||||||||||||||||||||||
Equity method investments | — | — | 330 | 757 | — | — | 1,087 | ||||||||||||||||||||||
Other noncurrent assets | — | 19 | 173 | 521 | — | (20 | ) | 693 | |||||||||||||||||||||
Total assets | $ | 6,199 | $ | 6,174 | $ | 13,386 | $ | 8,963 | $ | 4,112 | $ | (23,855 | ) | $ | 14,979 | ||||||||||||||
LIABILITIES AND EQUITY | |||||||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||||||
Current portion of debt | $ | — | $ | — | $ | 5 | $ | 12 | $ | — | $ | — | $ | 17 | |||||||||||||||
Other current liabilities | 1 | 6 | 421 | 849 | — | — | 1,277 | ||||||||||||||||||||||
Inter-company trade payables, net | — | — | — | 286 | — | (286 | ) | — | |||||||||||||||||||||
Total current liabilities | 1 | 6 | 426 | 1,147 | — | (286 | ) | 1,294 | |||||||||||||||||||||
Noncurrent portion of debt | — | — | 6,343 | 139 | — | — | 6,482 | ||||||||||||||||||||||
Other noncurrent liabilities | 2 | — | 462 | 505 | 21 | (20 | ) | 970 | |||||||||||||||||||||
Total liabilities | 3 | 6 | 7,231 | 1,791 | 21 | (306 | ) | 8,746 | |||||||||||||||||||||
Redeemable noncontrolling interests | — | — | — | 36 | — | — | 36 | ||||||||||||||||||||||
Equity attributable to Discovery Communications, Inc. | 6,196 | 6,168 | 6,155 | 7,135 | 4,091 | (23,549 | ) | 6,196 | |||||||||||||||||||||
Noncontrolling interests | — | — | — | 1 | — | — | 1 | ||||||||||||||||||||||
Total equity | 6,196 | 6,168 | 6,155 | 7,136 | 4,091 | (23,549 | ) | 6,197 | |||||||||||||||||||||
Total liabilities and equity | $ | 6,199 | $ | 6,174 | $ | 13,386 | $ | 8,963 | $ | 4,112 | $ | (23,855 | ) | $ | 14,979 | ||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS | |||||||||||||||||||||||||||||
For the Year Ended December 31, 2014 | |||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Discovery | DCH | DCL | Non-Guarantor | Other Non- | Reclassifications | Discovery and | |||||||||||||||||||||||
Subsidiaries of | Guarantor | and | Subsidiaries | ||||||||||||||||||||||||||
DCL | Subsidiaries of Discovery | Eliminations | |||||||||||||||||||||||||||
Revenues | $ | — | $ | — | $ | 1,871 | $ | 4,396 | $ | — | $ | (2 | ) | $ | 6,265 | ||||||||||||||
Costs of revenues, excluding depreciation and amortization | — | — | 454 | 1,671 | — | (1 | ) | 2,124 | |||||||||||||||||||||
Selling, general and administrative | 15 | — | 223 | 1,455 | — | (1 | ) | 1,692 | |||||||||||||||||||||
Depreciation and amortization | — | — | 34 | 295 | — | — | 329 | ||||||||||||||||||||||
Restructuring and other charges | — | — | 17 | 73 | — | — | 90 | ||||||||||||||||||||||
Gain on disposition | — | — | — | (31 | ) | — | — | (31 | ) | ||||||||||||||||||||
Total costs and expenses | 15 | — | 728 | 3,463 | — | (2 | ) | 4,204 | |||||||||||||||||||||
Operating (loss) income | (15 | ) | — | 1,143 | 933 | — | — | 2,061 | |||||||||||||||||||||
Equity in earnings of subsidiaries | 1,148 | 1,148 | 561 | — | 765 | (3,622 | ) | — | |||||||||||||||||||||
Interest expense | — | — | (319 | ) | (9 | ) | — | — | (328 | ) | |||||||||||||||||||
Income from equity investees, net | — | — | 10 | 13 | — | — | 23 | ||||||||||||||||||||||
Other income (expense), net | — | — | 36 | (45 | ) | — | — | (9 | ) | ||||||||||||||||||||
Income from continuing operations before income taxes | 1,133 | 1,148 | 1,431 | 892 | 765 | (3,622 | ) | 1,747 | |||||||||||||||||||||
Benefit from (provision for) income taxes | 6 | — | (283 | ) | (333 | ) | — | — | (610 | ) | |||||||||||||||||||
Net income | 1,139 | 1,148 | 1,148 | 559 | 765 | (3,622 | ) | 1,137 | |||||||||||||||||||||
Net income attributable to noncontrolling interests | — | — | — | — | — | (2 | ) | (2 | ) | ||||||||||||||||||||
Net income attributable to redeemable noncontrolling interests | — | — | — | — | — | 4 | 4 | ||||||||||||||||||||||
Net income available to Discovery Communications, Inc. | $ | 1,139 | $ | 1,148 | $ | 1,148 | $ | 559 | $ | 765 | $ | (3,620 | ) | $ | 1,139 | ||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS | |||||||||||||||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Discovery | DCH | DCL | Non-Guarantor | Other Non- | Reclassifications | Discovery and | |||||||||||||||||||||||
Subsidiaries of | Guarantor | and | Subsidiaries | ||||||||||||||||||||||||||
DCL | Subsidiaries of Discovery | Eliminations | |||||||||||||||||||||||||||
Revenues | $ | — | $ | — | $ | 1,867 | $ | 3,678 | $ | — | $ | (10 | ) | $ | 5,535 | ||||||||||||||
Costs of revenues, excluding depreciation and amortization | — | — | 445 | 1,252 | — | (8 | ) | 1,689 | |||||||||||||||||||||
Selling, general and administrative | 15 | — | 270 | 1,315 | — | (2 | ) | 1,598 | |||||||||||||||||||||
Depreciation and amortization | — | — | 36 | 240 | — | — | 276 | ||||||||||||||||||||||
Restructuring and other charges | — | — | 1 | 15 | — | — | 16 | ||||||||||||||||||||||
Gain on disposition | — | — | — | (19 | ) | — | — | (19 | ) | ||||||||||||||||||||
Total costs and expenses | 15 | — | 752 | 2,803 | — | (10 | ) | 3,560 | |||||||||||||||||||||
Operating (loss) income | (15 | ) | — | 1,115 | 875 | — | — | 1,975 | |||||||||||||||||||||
Equity in earnings of subsidiaries | 1,084 | 1,084 | 620 | — | 723 | (3,511 | ) | — | |||||||||||||||||||||
Interest expense | — | — | (299 | ) | (7 | ) | — | — | (306 | ) | |||||||||||||||||||
Income (losses) from equity method investees, net | — | — | 4 | 14 | — | — | 18 | ||||||||||||||||||||||
Other (expense) income, net | — | — | (50 | ) | 99 | — | — | 49 | |||||||||||||||||||||
Income from continuing operations before income taxes | 1,069 | 1,084 | 1,390 | 981 | 723 | (3,511 | ) | 1,736 | |||||||||||||||||||||
Benefit from (provision for) income taxes | 6 | — | (306 | ) | (359 | ) | — | — | (659 | ) | |||||||||||||||||||
Net income | 1,075 | 1,084 | 1,084 | 622 | 723 | (3,511 | ) | 1,077 | |||||||||||||||||||||
Net income attributable to noncontrolling interests | — | — | — | — | — | (1 | ) | (1 | ) | ||||||||||||||||||||
Net income attributable to redeemable noncontrolling interests | — | — | — | — | — | (1 | ) | (1 | ) | ||||||||||||||||||||
Net income available to Discovery Communications, Inc. | $ | 1,075 | $ | 1,084 | $ | 1,084 | $ | 622 | $ | 723 | $ | (3,513 | ) | $ | 1,075 | ||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS | |||||||||||||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Discovery | DCH | DCL | Non-Guarantor | Other Non- | Reclassifications | Discovery and | |||||||||||||||||||||||
Subsidiaries of | Guarantor | and | Subsidiaries | ||||||||||||||||||||||||||
DCL | Subsidiaries of Discovery | Eliminations | |||||||||||||||||||||||||||
Revenues | $ | — | $ | — | $ | 1,796 | $ | 2,704 | $ | — | $ | (13 | ) | $ | 4,487 | ||||||||||||||
Costs of revenues, excluding depreciation and amortization | — | — | 399 | 830 | — | (11 | ) | 1,218 | |||||||||||||||||||||
Selling, general and administrative | 13 | — | 279 | 997 | — | (2 | ) | 1,287 | |||||||||||||||||||||
Depreciation and amortization | — | — | 36 | 81 | — | — | 117 | ||||||||||||||||||||||
Restructuring and other charges | — | — | 2 | 4 | — | — | 6 | ||||||||||||||||||||||
Total costs and expenses | 13 | — | 716 | 1,912 | — | (13 | ) | 2,628 | |||||||||||||||||||||
Operating (loss) income | (13 | ) | — | 1,080 | 792 | — | — | 1,859 | |||||||||||||||||||||
Equity in earnings of subsidiaries | 939 | 965 | 444 | — | 645 | (2,993 | ) | — | |||||||||||||||||||||
Interest expense | — | — | (242 | ) | (6 | ) | — | — | (248 | ) | |||||||||||||||||||
Income (loss) from equity investees, net | — | — | 3 | (89 | ) | — | — | (86 | ) | ||||||||||||||||||||
Other income (expense), net | 13 | 2 | (1 | ) | (4 | ) | — | (17 | ) | (7 | ) | ||||||||||||||||||
Income from continuing operations before income taxes | 939 | 967 | 1,284 | 693 | 645 | (3,010 | ) | 1,518 | |||||||||||||||||||||
Benefit from (provision for) income taxes | 4 | — | (319 | ) | (247 | ) | — | — | (562 | ) | |||||||||||||||||||
Income from continuing operations, net of taxes | 943 | 967 | 965 | 446 | 645 | (3,010 | ) | 956 | |||||||||||||||||||||
Loss from discontinued operations, net of taxes | — | — | — | — | (28 | ) | 17 | (11 | ) | ||||||||||||||||||||
Net income | 943 | 967 | 965 | 446 | 617 | (2,993 | ) | 945 | |||||||||||||||||||||
Net income attributable to noncontrolling interests | — | — | — | — | — | (2 | ) | (2 | ) | ||||||||||||||||||||
Net income available to Discovery Communications, Inc. | $ | 943 | $ | 967 | $ | 965 | $ | 446 | $ | 617 | $ | (2,995 | ) | $ | 943 | ||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME | |||||||||||||||||||||||||||||
For the Year Ended to December 31, 2014 | |||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Discovery | DCH | DCL | Non-Guarantor | Other Non- | Reclassifications | Discovery and | |||||||||||||||||||||||
Subsidiaries of | Guarantor | and | Subsidiaries | ||||||||||||||||||||||||||
DCL | Subsidiaries of Discovery | Eliminations | |||||||||||||||||||||||||||
Net income | $ | 1,139 | $ | 1,148 | $ | 1,148 | $ | 559 | $ | 765 | $ | (3,622 | ) | $ | 1,137 | ||||||||||||||
Other comprehensive (loss) income, net of tax: | |||||||||||||||||||||||||||||
Currency translation adjustments | (399 | ) | (399 | ) | (399 | ) | (397 | ) | (266 | ) | 1,461 | (399 | ) | ||||||||||||||||
Derivative and market value adjustments | (13 | ) | (13 | ) | (13 | ) | 8 | (9 | ) | 27 | (13 | ) | |||||||||||||||||
Comprehensive income | 727 | 736 | 736 | 170 | 490 | (2,134 | ) | 725 | |||||||||||||||||||||
Comprehensive income attributable to noncontrolling interests | — | — | — | — | — | (2 | ) | (2 | ) | ||||||||||||||||||||
Comprehensive loss attributable to redeemable noncontrolling interests | 40 | 40 | 40 | 40 | 27 | (143 | ) | 44 | |||||||||||||||||||||
Comprehensive income attributable to Discovery Communications, Inc. | $ | 767 | $ | 776 | $ | 776 | $ | 210 | $ | 517 | $ | (2,279 | ) | $ | 767 | ||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME | |||||||||||||||||||||||||||||
For the Year Ended to December 31, 2013 | |||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Discovery | DCH | DCL | Non-Guarantor | Other Non- | Reclassifications | Discovery and | |||||||||||||||||||||||
Subsidiaries of | Guarantor | and | Subsidiaries | ||||||||||||||||||||||||||
DCL | Subsidiaries of Discovery | Eliminations | |||||||||||||||||||||||||||
Net income | $ | 1,075 | $ | 1,084 | $ | 1,084 | $ | 622 | $ | 723 | $ | (3,511 | ) | $ | 1,077 | ||||||||||||||
Other comprehensive (loss) income, net of tax: | |||||||||||||||||||||||||||||
Currency translation adjustments | (11 | ) | (11 | ) | (11 | ) | (10 | ) | (7 | ) | 39 | (11 | ) | ||||||||||||||||
Derivative and market value adjustments | 8 | 8 | 8 | 11 | 5 | (32 | ) | 8 | |||||||||||||||||||||
Comprehensive income | 1,072 | 1,081 | 1,081 | 623 | 721 | (3,504 | ) | 1,074 | |||||||||||||||||||||
Comprehensive income attributable to noncontrolling interests | — | — | — | — | — | (1 | ) | (1 | ) | ||||||||||||||||||||
Comprehensive loss attributable to redeemable noncontrolling interests | 3 | 3 | 3 | 3 | 2 | (12 | ) | 2 | |||||||||||||||||||||
Comprehensive income attributable to Discovery Communications, Inc. | $ | 1,075 | $ | 1,084 | $ | 1,084 | $ | 626 | $ | 723 | $ | (3,517 | ) | $ | 1,075 | ||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME | |||||||||||||||||||||||||||||
For the Year Ended to December 31, 2012 | |||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Discovery | DCH | DCL | Non-Guarantor | Other Non- | Reclassifications | Discovery and | |||||||||||||||||||||||
Subsidiaries of | Guarantor | and | Subsidiaries | ||||||||||||||||||||||||||
DCL | Subsidiaries of Discovery | Eliminations | |||||||||||||||||||||||||||
Net income | $ | 943 | $ | 967 | $ | 965 | $ | 446 | $ | 617 | $ | (2,993 | ) | $ | 945 | ||||||||||||||
Other comprehensive income (loss), net of tax: | |||||||||||||||||||||||||||||
Currency translation adjustments | 28 | 28 | 28 | 26 | 19 | (101 | ) | 28 | |||||||||||||||||||||
Derivative and market value adjustments | (1 | ) | (1 | ) | (1 | ) | (1 | ) | (1 | ) | 4 | (1 | ) | ||||||||||||||||
Comprehensive income | 970 | 994 | 992 | 471 | 635 | (3,090 | ) | 972 | |||||||||||||||||||||
Comprehensive income attributable to noncontrolling interests | — | — | — | — | — | (2 | ) | (2 | ) | ||||||||||||||||||||
Comprehensive income attributable to Discovery Communications, Inc. | $ | 970 | $ | 994 | $ | 992 | $ | 471 | $ | 635 | $ | (3,092 | ) | $ | 970 | ||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||||||||||
For the Year Ended December 31, 2014 | |||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Discovery | DCH | DCL | Non-Guarantor | Other Non- | Reclassifications | Discovery and | |||||||||||||||||||||||
Subsidiaries of | Guarantor | and | Subsidiaries | ||||||||||||||||||||||||||
DCL | Subsidiaries of Discovery | Eliminations | |||||||||||||||||||||||||||
Operating Activities | |||||||||||||||||||||||||||||
Cash provided by (used in) operating activities | $ | 111 | $ | (17 | ) | $ | 269 | $ | 955 | $ | — | $ | — | $ | 1,318 | ||||||||||||||
Investing Activities | |||||||||||||||||||||||||||||
Purchases of property and equipment | — | — | (16 | ) | (104 | ) | — | — | (120 | ) | |||||||||||||||||||
Business acquisitions, net of cash acquired | — | — | (64 | ) | (308 | ) | — | — | (372 | ) | |||||||||||||||||||
Proceeds from disposition | — | — | — | 45 | — | — | 45 | ||||||||||||||||||||||
Distribution from equity method investees | — | — | — | 61 | — | — | 61 | ||||||||||||||||||||||
Investments in equity method investees, net | — | — | (5 | ) | (172 | ) | — | — | (177 | ) | |||||||||||||||||||
Other investing activities, net | — | — | — | (5 | ) | — | — | (5 | ) | ||||||||||||||||||||
Cash used in investing activities | — | — | (85 | ) | (483 | ) | — | — | (568 | ) | |||||||||||||||||||
Financing Activities | |||||||||||||||||||||||||||||
Borrowings from debt, net of discount | — | — | 415 | — | — | — | 415 | ||||||||||||||||||||||
Borrowings under revolving credit facility, net | — | — | 13 | 25 | — | — | 38 | ||||||||||||||||||||||
Commercial paper, net | — | — | 229 | — | — | — | 229 | ||||||||||||||||||||||
Debt Issuance cost | — | — | (6 | ) | — | — | — | (6 | ) | ||||||||||||||||||||
Principal repayments of capital lease obligations | — | — | (4 | ) | (15 | ) | — | — | (19 | ) | |||||||||||||||||||
Repurchases of stock | (1,422 | ) | — | — | — | — | — | (1,422 | ) | ||||||||||||||||||||
Cash proceeds from equity-based plans, net | 44 | — | — | — | — | — | 44 | ||||||||||||||||||||||
Inter-company contributions and other financing activities, net | 1,267 | 17 | (946 | ) | (351 | ) | — | — | (13 | ) | |||||||||||||||||||
Cash (used in) provided by financing activities | (111 | ) | 17 | (299 | ) | (341 | ) | — | — | (734 | ) | ||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | (57 | ) | — | — | (57 | ) | ||||||||||||||||||||
Net change in cash and cash equivalents | — | — | (115 | ) | 74 | — | — | (41 | ) | ||||||||||||||||||||
Cash and cash equivalents, beginning of period | — | — | 123 | 285 | — | — | 408 | ||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | — | $ | — | $ | 8 | $ | 359 | $ | — | $ | — | $ | 367 | |||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Discovery | DCH | DCL | Non-Guarantor | Other Non- | Reclassifications | Discovery and | |||||||||||||||||||||||
Subsidiaries of | Guarantor | and | Subsidiaries | ||||||||||||||||||||||||||
DCL | Subsidiaries of Discovery | Eliminations | |||||||||||||||||||||||||||
Operating Activities | |||||||||||||||||||||||||||||
Cash (used in) provided by operating activities | $ | (16 | ) | $ | (11 | ) | $ | 288 | $ | 1,024 | $ | — | $ | — | $ | 1,285 | |||||||||||||
Investing Activities | |||||||||||||||||||||||||||||
Purchases of property and equipment | — | — | (19 | ) | (96 | ) | — | — | (115 | ) | |||||||||||||||||||
Business acquisitions, net of cash acquired | — | — | — | (1,861 | ) | — | — | (1,861 | ) | ||||||||||||||||||||
Hedging instruments, net | — | — | (55 | ) | — | — | — | (55 | ) | ||||||||||||||||||||
Proceeds from disposition | — | — | — | 28 | — | — | 28 | ||||||||||||||||||||||
Distribution from equity method investees | — | — | — | 47 | — | — | 47 | ||||||||||||||||||||||
Investments in equity method investees, net | — | — | (1 | ) | (27 | ) | — | — | (28 | ) | |||||||||||||||||||
Other investing activities, net | — | — | — | (3 | ) | — | — | (3 | ) | ||||||||||||||||||||
Cash used in investing activities | — | — | (75 | ) | (1,912 | ) | — | — | (1,987 | ) | |||||||||||||||||||
Financing Activities | |||||||||||||||||||||||||||||
Borrowings from debt, net of discount | — | — | 1,198 | — | — | — | 1,198 | ||||||||||||||||||||||
Debt issuance cost | — | — | (12 | ) | — | — | — | (12 | ) | ||||||||||||||||||||
Principal repayments of capital lease obligations | — | — | (7 | ) | (25 | ) | — | — | (32 | ) | |||||||||||||||||||
Repurchases of stock | (1,305 | ) | — | — | — | — | — | (1,305 | ) | ||||||||||||||||||||
Cash proceeds from equity-based plans, net | 73 | — | — | — | — | — | 73 | ||||||||||||||||||||||
Inter-company contributions and other financing activities, net | 1,248 | 11 | (2,291 | ) | 1,025 | — | — | (7 | ) | ||||||||||||||||||||
Cash provided by (used in) financing activities | 16 | 11 | (1,112 | ) | 1,000 | — | — | (85 | ) | ||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | (6 | ) | — | — | (6 | ) | ||||||||||||||||||||
Net change in cash and cash equivalents | — | — | (899 | ) | 106 | — | — | (793 | ) | ||||||||||||||||||||
Cash and cash equivalents, beginning of period | — | — | 1,022 | 179 | — | — | 1,201 | ||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | — | $ | — | $ | 123 | $ | 285 | $ | — | $ | — | $ | 408 | |||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Discovery | DCH | DCL | Non-Guarantor | Other Non- | Reclassifications | Discovery and | |||||||||||||||||||||||
Subsidiaries of | Guarantor | and | Subsidiaries | ||||||||||||||||||||||||||
DCL | Subsidiaries of Discovery | Eliminations | |||||||||||||||||||||||||||
Operating Activities | |||||||||||||||||||||||||||||
Cash (used in) provided by operating activities | $ | (18 | ) | $ | 12 | $ | 307 | $ | 798 | $ | — | $ | — | $ | 1,099 | ||||||||||||||
Investing Activities | |||||||||||||||||||||||||||||
Purchases of property and equipment | — | — | (18 | ) | (58 | ) | (1 | ) | — | (77 | ) | ||||||||||||||||||
Business acquisitions, net of cash acquired | — | — | — | (149 | ) | — | — | (149 | ) | ||||||||||||||||||||
Distributions from equity method investees | — | — | — | 17 | — | — | 17 | ||||||||||||||||||||||
Investments in equity method investees, net | — | — | — | (404 | ) | — | — | (404 | ) | ||||||||||||||||||||
Other investing activities, net | — | — | (31 | ) | — | 1 | — | (30 | ) | ||||||||||||||||||||
Cash used in investing activities | — | — | (49 | ) | (594 | ) | — | — | (643 | ) | |||||||||||||||||||
Financing Activities | |||||||||||||||||||||||||||||
Borrowings from debt, net of discount | — | — | 992 | — | — | — | 992 | ||||||||||||||||||||||
Debt issuance cost | — | — | (11 | ) | — | — | — | (11 | ) | ||||||||||||||||||||
Principal repayments of capital lease obligations | — | — | (6 | ) | (16 | ) | — | — | (22 | ) | |||||||||||||||||||
Repurchases of stock | (1,380 | ) | — | — | — | — | — | (1,380 | ) | ||||||||||||||||||||
Cash proceeds from equity-based plans, net | 119 | — | — | — | — | — | 119 | ||||||||||||||||||||||
Inter-company contributions and other financing activities, net | 1,279 | (12 | ) | (1,175 | ) | (94 | ) | (1 | ) | — | (3 | ) | |||||||||||||||||
Cash provided (used in) by financing activities | 18 | (12 | ) | (200 | ) | (110 | ) | (1 | ) | — | (305 | ) | |||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | 2 | — | — | 2 | ||||||||||||||||||||||
Net change in cash and cash equivalents | — | — | 58 | 96 | (1 | ) | — | 153 | |||||||||||||||||||||
Cash and cash equivalents, beginning of period | — | — | 964 | 83 | 1 | — | 1,048 | ||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | — | $ | — | $ | 1,022 | $ | 179 | $ | — | $ | — | $ | 1,201 | |||||||||||||||
Summary_Of_Significant_Account1
Summary Of Significant Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2014 | |
Accounting Policies [Abstract] | |
Accounting and Reporting Pronouncements Adopted | Accounting and Reporting Pronouncements Adopted |
Reporting Discontinued Operations | |
In April 2014, the Financial Accounting Standards Board ("FASB") issued guidance that changes the criteria for reporting discontinued operations and requires additional disclosures about discontinued operations and disposals of components of an entity that do not qualify for discontinued operations reporting. Under the new pronouncement, disposal of a component of an entity representing a strategic shift with a major effect on its operations and financial results is a discontinued operation. The Company adopted the new guidance on July 1, 2014. | |
The component of an entity that has been disposed or meets the criteria to be classified as held for sale and is presented as a discontinued operation, must represent a strategic shift that has or will have a major effect on the Company's operations and financial results. The results of operations of a component classified as discontinued operations, as well as any gain or loss on the disposal transaction, are aggregated for presentation apart from continuing operating results of the Company in the consolidated statements of operations for all periods presented. If a discontinued operation is classified as held for sale, the assets and liabilities of the discontinued operation will be presented separately in the statement of financial position for all periods presented. Cash flows from discontinued operations are combined with continuing operations on the consolidated statements of cash flow. | |
Presentation of Unrecognized Tax Benefits | |
In July 2013, the FASB issued guidance stating that a liability related to an unrecognized tax benefit should be presented as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carry forward to the extent such deferred tax asset is available at the reporting date to settle any additional income taxes that would result from the disallowance of a tax position. The Company prospectively adopted the new guidance effective January 1, 2014. As of December 31, 2014, there are no unrecognized tax benefits reducing deferred tax assets on the consolidated balance sheet. | |
Accounting and Reporting Pronouncements Not Yet Adopted | Accounting and Reporting Pronouncements Not Yet Adopted |
Presentation of Financial Statements - Going Concern | |
In August 2014, the FASB issued guidance requiring management to perform interim and annual assessments regarding conditions or events that raise substantial doubt about the Company's ability to continue as a going concern and to provide related disclosures, if applicable. The new standard will be effective for reporting periods beginning after December 15, 2016, with early adoption permitted. The adoption of this standard is not expected to have a material effect on the Company's consolidated financial statements. | |
Revenue from Contracts with Customers | |
In May 2014, the FASB issued an accounting pronouncement related to revenue recognition, which applies a single, comprehensive revenue recognition model for all contracts with customers. This standard contains principles with respect to the measurement of revenue and timing of recognition. The Company will recognize revenue to reflect the transfer of goods or services to customers at an amount that it expects to be entitled to receive in exchange for those goods or services. This pronouncement is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. Early adoption is not permitted. The Company is currently evaluating the impact that the pronouncement will have on the consolidated financial statements. | |
Use Of Estimates | Use of Estimates |
The preparation of financial statements in accordance with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates, judgments and assumptions that affect the amounts and disclosures reported in the consolidated financial statements and accompanying notes. Management continually re-evaluates its estimates, judgments and assumptions and management’s evaluations could change. These estimates are sometimes complex, sensitive to changes in assumptions and require fair value determinations using Level 3 fair value measurements. Actual results may differ materially from those estimates. | |
Estimates inherent in the preparation of the consolidated financial statements include accounting for asset impairments, revenue recognition, allowances for doubtful accounts, content rights, depreciation and amortization, business combinations, equity-based compensation, income taxes, other financial instruments, contingencies, and the determination of whether the Company is the primary beneficiary of entities in which it holds variable interests. | |
Consolidation | Consolidation |
The Company has ownership and other interests in various entities, including corporations, partnerships, and limited liability companies. For each such entity, the Company evaluates its ownership and other interests to determine whether it should consolidate the entity or account for its ownership interest as an investment. As part of its evaluation, the Company initially determines whether the entity is a variable interest entity ("VIE") and, if so, whether it is the primary beneficiary of the VIE. An entity is generally a VIE if it meets any of the following criteria: (i) the entity has insufficient equity to finance its activities without additional subordinated financial support from other parties, (ii) the equity investors cannot make significant decisions about the entity’s operations, or (iii) the voting rights of some investors are not proportional to their obligations to absorb the expected losses of the entity or receive the expected returns of the entity and substantially all of the entity’s activities involve or are conducted on behalf of the investor with disproportionately few voting rights. The Company consolidates VIEs for which it is the primary beneficiary, regardless of its ownership or voting interests. The primary beneficiary is the party involved with the VIE that (i) has the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, and (ii) has the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. Upon inception of a variable interest or the occurrence of a reconsideration event, the Company makes judgments in determining whether entities in which it invests are VIEs. If so, the Company makes judgments to determine whether it is the primary beneficiary and is thus required to consolidate the entity. | |
If it is concluded that an entity is not a VIE, then the Company considers its proportional voting interests in the entity. The Company consolidates majority-owned subsidiaries in which a controlling financial interest is maintained. A controlling financial interest is determined by majority ownership and the absence of significant third-party participating rights. | |
Ownership interests in entities for which the Company has significant influence that are not consolidated under the Company’s consolidation policy are accounted for as equity method investments. Related party transactions between the Company and its equity method investees have not been eliminated. (See Note 20.) | |
Investments | Investments |
The Company holds investments in equity method investees and other marketable securities. Investments in equity method investees are those for which the Company has the ability to exercise significant influence but does not control and is not the primary beneficiary. Significant influence typically exists if the Company has a 20% to 50% ownership interest in the venture unless persuasive evidence to the contrary exists. Under this method of accounting, the Company records its proportionate share of the net earnings or losses of equity method investees and a corresponding increase or decrease to the investment balances. Cash payments to equity method investees such as additional investments, loans and advances and expenses incurred on behalf of investees, as well as payments from equity method investees such as dividends, distributions and repayments of loans and advances are recorded as adjustments to investment balances. The Company evaluates its equity method investments for impairment whenever events or changes in circumstances indicate that the carrying amounts of such investments may not be recoverable. (See "Asset Impairment Analysis" below.) | |
Investments in entities or other securities in which the Company has no control or significant influence and is not the primary beneficiary are accounted for at fair value or cost. Investments in equity securities with readily determinable fair values are accounted for at fair value, based on quoted market prices, and classified as either trading securities or available-for-sale securities. For investments classified as trading securities, which include securities held in a separate trust in connection with the Company’s deferred compensation plan, unrealized and realized gains and losses related to the investment and corresponding liability are recorded in earnings as a component of other (expense) income, net on the consolidated statements of operations. For investments classified as available-for-sale securities, which include investments in mutual funds, unrealized gains and losses are recorded net of income taxes in other comprehensive (loss) income until the security is sold or considered impaired. If declines in the value of available-for-sale securities are determined to be other than temporary, a loss is recorded in earnings in the current period as a component of other (expense) income, net on the consolidated statements of operations. Impairments are determined based on, among other factors, the length of time the fair value of the investment has been less than the carrying value, future business prospects for the investee, and information regarding market and industry trends for the investee’s business, if available. For purposes of computing realized gains and losses, the Company determines cost on a specific identification basis. Cost method investments are recorded at the lower of cost or fair value. If declines in the value of cost method investments are determined to be other than temporary, a loss is recorded in earnings in the current period as a component of other (expense) income, net on the consolidated statements of operations. | |
Foreign Currency | Foreign Currency |
The reporting currency of the Company is the U.S. dollar. The functional currency of most of the Company’s international subsidiaries is the local currency. Assets and liabilities, including inter-company balances for which settlement is anticipated in the foreseeable future, denominated in foreign currencies are translated at exchange rates in effect at the balance sheet date. Foreign currency equity balances are translated at historical rates. Revenues and expenses denominated in foreign currencies are translated at average exchange rates for the respective periods. Foreign currency translation adjustments are recorded in accumulated other comprehensive income. | |
Transactions denominated in currencies other than subsidiaries’ functional currencies are recorded based on exchange rates at the time such transactions arise. Changes in exchange rates with respect to amounts recorded in the consolidated balance sheets related to these items will result in unrealized foreign currency transaction gains and losses based upon period-end exchange rates. The Company also records realized foreign currency transaction gains and losses upon settlement of the transactions. Foreign currency transaction gains and losses are included in other (expense) income, net and totaled a loss of $22 million, a gain of $23 million, and a loss of $4 million for 2014, 2013 and 2012, respectively. | |
With the exception of certain material transactions, the cash flows from the Company's operations in foreign countries are translated at the weighted average rate for the applicable period in the consolidated statements of cash flows. The impacts of material transactions generally are recorded at the applicable spot rates in the consolidated statements of operations and cash flows. The effects of exchange rates on cash balances held in foreign currencies are separately reported in the Company's consolidated statements of cash flows. | |
Cash And Cash Equivalents | Cash and Cash Equivalents |
Cash and cash equivalents include cash on hand and highly liquid investments with original maturities of ninety days or less. | |
Accounts Receivable | Receivables |
Receivables include amounts billed and currently due from customers and are presented net of an estimate for uncollectible accounts. The Company evaluates outstanding receivables to assess collectability. In performing this evaluation, the Company analyzes market trends, economic conditions, the aging of receivables and customer specific risks. Using this information, the Company reserves an amount that it estimates may not be collected. The Company does not require collateral with respect to trade receivables. | |
Content Rights | Content Rights |
Content rights principally consist of television series, specials and sporting events. Content aired on the Company’s television networks is sourced from a wide range of third-party producers, wholly owned and equity method investee production studios and sports associations. Content is classified either as produced, coproduced or licensed. The Company owns most or all of the rights to produced content. The Company collaborates with third parties to finance and develop coproduced content, and it retains significant rights to exploit the programs. Licensed content is comprised of films or series that have been previously produced by third parties and the Company retains limited airing rights over a contractual term. Prepaid licensed content also includes advance payments for rights to air sporting events that will take place in the future. | |
Costs of produced and coproduced content consist of development costs, acquired production costs, direct production costs, certain production overhead costs and participation costs. Costs incurred for produced and coproduced content are capitalized if the Company has previously generated revenues from similar content in established markets and the content will be used and revenues will be generated for a period of at least one year. The Company’s coproduction arrangements generally provide for the sharing of production cost. The Company records its costs, but does not record the costs borne by the other party as the Company does not share any associated economics of exploitation. Program licenses typically have fixed terms and require payments during the term of the license. The cost of licensed content is capitalized when the programs are delivered or the Company has paid for the programs. The Company pays in advance of delivery for television series, specials, films and sports rights. Payments made in advance of the season are recognized as in-production produced or coproduced content or prepaid licensed content. Content distribution, advertising, marketing, general and administrative costs are expensed as incurred. | |
Content amortization expense for each period is recognized based on the revenue forecast model, which approximates the proportion that estimated distribution and advertising revenues for the current period represent in relation to the estimated remaining total lifetime revenues. The Company annually, or on an as needed basis, prepares analyses to support its content amortization expense by network and by region. Critical assumptions used in determining content amortization include: 1) the application of a quantitative revenue forecast model based the adequacy of a network's historical data, 2) determining the appropriate historical periods to utilize and the relative weighting of those historical periods in the revenue forecast model, and 3) assessing the accuracy of the Company's revenue forecasts. The Company then considers the appropriate application of the quantitative assessment given forecasted content use, expected content investment and market trends. Content use and future revenues may differ from estimates based on changes in expectations related to market acceptance, network affiliate fee rates, advertising demand, the number of cable and satellite television subscribers receiving the Company’s networks, and program usage. Accordingly, the Company continually reviews revenue estimates and planned usage and revises its assumptions if necessary. As part of the Company's annual assessment of the revenue forecast model, the Company compares the calculated amortization rates to those that have been utilized during the year. If the calculated rates do not deviate materially from the applied amortization rates, no adjustment is recorded for the current year amortization expense. The Company allocates the cost of multi-year sports programming arrangements over the contract period to each season based on the estimated relative value of each season using the revenue-forecast model. If planned usage patterns of content or estimated relative values of a sports season were to change significantly, content amortization expense may be accelerated. | |
The result of the revenue forecast model is either an accelerated method or a straight-line amortization method over the estimated useful lives of up to five years for produced, coproduced and licensed content. Amortization of capitalized costs for produced and coproduced content begins when a program has been aired. Amortization of capitalized costs for licensed content commences when the license period begins and the program is available for use. Expense for sports rights takes place when the content airs. | |
Capitalized content costs are stated at the lower of cost less accumulated amortization or net realizable value. The Company periodically evaluates the net realizable value of content by considering expected future revenue generation. Estimates of future revenues consider historical airing patterns and future plans for airing content, including any changes in strategy. Given the significant estimates and judgments involved, actual demand or market conditions may be less favorable than those projected, requiring a write-down to net realizable value. Development costs for programs that the Company has determined will not be produced, are fully expensed in the period the determination is made. | |
All produced and coproduced content is classified as long-term. The portion of the unamortized licensed content balance that will be amortized within one year is classified as a current asset. | |
Property And Equipment | Property and Equipment |
Property and equipment are stated at cost less accumulated depreciation and impairments. The cost of property and equipment acquired under capital lease arrangements represents the lesser of the present value of the minimum lease payments or the fair value of the leased asset as of the inception of the lease. The Company leases fixed assets and software. Substantially all capitalized software costs are for internal use. Capitalization of software costs occurs during the application development stage. Software costs incurred during the preliminary project and post implementation stages are expensed as incurred. Repairs and maintenance expenditures that do not enhance the use or extend the life of property and equipment are expensed as incurred. | |
Depreciation for most property and equipment is recognized using the straight-line method over the estimated useful lives of the assets, which is 15 to 39 years for buildings, three to five years for broadcast equipment, two to five years for capitalized software costs and three to five years for office equipment, furniture, fixtures and other property and equipment. Assets acquired under capital lease arrangements and leasehold improvements are amortized using the straight-line method over the lesser of the estimated useful lives of the assets or the terms of the related leases, which is one to 15 years. Depreciation commences when property or equipment is ready for its intended use. | |
Goodwill And Indefinite-Lived Intangible Assets | Goodwill and Indefinite-lived Intangible Assets |
Goodwill is allocated to the Company's reporting units, which are its operating segments or one level below its operating segments. The Company evaluates goodwill and other indefinite-lived intangible assets for impairment annually as of November 30 and earlier upon the occurrence of substantive changes in circumstances, such as a significant deterioration in economic conditions, industry changes, increases in costs, declining cash flows, or a significant, ongoing decline in market capitalization. If the Company believes that as a result of its qualitative assessment it is more likely than not that the fair value of a reporting unit or other indefinite-lived intangible asset is greater than its carrying amount, the quantitative impairment test is not required. | |
Following a qualitative assessment indicating that it is not more likely than not that the fair value of the reporting unit exceeds its carrying amount, goodwill impairment is determined using a two-step quantitative process. The first step of the process is to compare the fair value of a reporting unit with its carrying amount, including goodwill. In performing the first step, the Company determines the fair value of a reporting unit by using a combination of a discounted cash flow (“DCF”) analysis and, if possible, market-based valuation methodologies. Determining fair value requires the Company to make judgments about appropriate discount rates, perpetual growth rates, relevant comparable company earnings multiples and the amount and timing of expected future cash flows. The cash flows employed in the DCF analysis are based on the Company’s budget, long-term business plan, and recent operating performance. Discount rate assumptions are based on an assessment of the risk inherent in future cash flows of the respective reporting unit and market conditions. In assessing the reasonableness of its determined fair values, the Company may also evaluate its results against other value indicators, such as comparable company public trading values, research analyst estimates and values observed in market transactions. | |
If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not impaired and the second step of the quantitative impairment test is not necessary. If the carrying amount of a reporting unit exceeds its fair value, the second step of the quantitative goodwill impairment test is required to be performed to measure the amount of impairment loss, if any. The second step of the quantitative goodwill impairment test compares the implied fair value of the reporting unit’s goodwill with the carrying amount of that goodwill. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination. In other words, the estimated fair value of the reporting unit’s identifiable net assets excluding goodwill is compared to the fair value of the reporting unit as if the reporting unit had been acquired in a business combination and the fair value of the reporting unit was the purchase price paid. If the carrying amount of the reporting unit’s goodwill exceeds the implied fair value of that goodwill, an impairment loss is recognized in an amount equal to that excess. | |
Following a qualitative assessment indicating that it is not more likely than not that the fair value of the indefinite lived intangible asset exceeds its carrying amount, impairment of other intangible assets not subject to amortization involves a comparison of the estimated fair value of the intangible asset with its carrying value. If the carrying value of the intangible asset exceeds its fair value, an impairment loss is recognized in an amount equal to that excess. The estimates of fair value of intangible assets not subject to amortization are determined using a DCF valuation analysis, a market-based valuation analysis, or both. Determining fair value requires the exercise of judgment about appropriate discount rates, perpetual growth rates and the amount and timing of expected future cash flows. | |
Long-lived Assets | Long-lived Assets |
Long-lived assets such as amortizing trademarks, customer lists, other intangible assets, and property and equipment are not required to be tested for impairment annually. Instead, long-lived assets are tested for impairment whenever circumstances indicate that the carrying amount of the asset may not be recoverable, such as when the disposal of such assets is likely or there is an adverse change in the market involving the business employing the related assets. If an impairment analysis is required, the impairment test employed is based on whether the Company’s intent is to hold the asset for continued use or to hold the asset for sale. If the intent is to hold the asset for continued use, the impairment test first requires a comparison of undiscounted future cash flows to the carrying value of the asset. If the carrying value of the asset exceeds the undiscounted cash flows, the asset would not be deemed to be recoverable. Impairment would then be measured as the excess of the asset’s carrying value over its fair value. Fair value is typically determined by discounting the future cash flows associated with that asset. If the intent is to hold the asset for sale and certain other criteria are met, the impairment test involves comparing the asset’s carrying value to its fair value less costs to sell. To the extent the carrying value is greater than the asset’s fair value less costs to sell, an impairment loss is recognized in an amount equal to the difference. Significant judgments used for long-lived asset impairment assessments include determining whether events or circumstances indicate that the carrying amount of the asset may not be recoverable, determining the future cash flows for the assets involved and determining the proper discount rate to be applied in determining fair value. | |
Equity Method Investments | Equity Method Investments |
Equity method investments are reviewed for indicators of other-than-temporary impairment on a quarterly basis. An equity method investment is written down to fair value if there is evidence of a loss in value which is other than temporary. The Company may estimate the fair value of its equity method investments by considering recent investee equity transactions, discounted cash flow analysis, recent operating results, comparable public company operating cash flow multiples and in certain situations, balance sheet liquidation values. If the fair value of the investment has dropped below the carrying amount, management considers several factors when determining whether an other-than-temporary decline has occurred, such as: the length of the time and the extent to which the estimated fair value or market value has been below the carrying value, the financial condition and the near-term prospects of the investee, the intent and ability of the Company to retain its investment in the investee for a period of time sufficient to allow for any anticipated recovery in market value and general market conditions. The estimation of fair value and whether an other-than temporary impairment has occurred requires the application of significant judgment and future results may vary from current assumptions. (See Note 4.) | |
Derivative Instruments | Derivative Instruments |
The Company uses derivative financial instruments from time to time to modify its exposure to market risks from changes in interest rates and foreign exchange rates. The Company may designate derivative instruments as cash flow hedges or fair value hedges, as appropriate. The Company records all derivative instruments at fair value on a gross basis. For those derivative instruments designated as cash flow hedges that qualify for hedge accounting, gains or losses on the effective portion of derivative instruments are initially recorded in accumulated other comprehensive income on the consolidated balance sheets and reclassified to the same account on the consolidated statements of operations in which the hedged item is recognized on the consolidated statements of operations. The Company may also enter into derivative instruments that are not designated as hedges and do not qualify for hedge accounting. These contracts are intended to mitigate economic exposures of the Company. The changes in fair value of derivatives not designated as hedges and the ineffective portion of derivatives designated as hedging instruments are immediately recorded in other (expense) income, net. | |
The Company uses derivative financial instruments to modify its exposure to market risks from changes in foreign exchange rates and interest rates. The Company does not enter into or hold derivative financial instruments for speculative trading purposes. | |
Treasury Stock | Treasury Stock |
When stock is acquired for purposes other than formal or constructive retirement, the purchase price of the acquired stock is recorded in a separate treasury stock account, which is separately reported as a reduction of equity. | |
When stock is retired or purchased for constructive retirement, the purchase price is initially recorded as a reduction to the par value of the shares repurchased, with any excess purchase price over par value recorded as a reduction to additional paid-in capital related to the series of shares repurchased and any remainder excess purchase price recorded as a reduction to retained earnings. If the purchase price exceeds the amounts allocated to par value and additional paid-in capital related to the series of shares repurchased and retained earnings, the remainder is allocated to additional paid-in capital related to other series of shares. | |
Repurchased common stock is recorded in treasury stock on the consolidated balance sheet. | |
Revenue Recognition | Revenue Recognition |
The Company generates revenues principally from (i) fees charged to distributors of its network content, which include cable, direct-to-home ("DTH") satellite, telecommunications and digital service providers, (ii) advertising sold on its television networks and websites, (iii) transactions for curriculum-based products and services, (iv) production studios content development and services, (v) affiliate and advertising sales representation services and (vi) the licensing of the Company's brands for consumer products. | |
Revenue is recognized when persuasive evidence of a sales arrangement exists, services are rendered or delivery occurs, the sales price is fixed or determinable and collectability is reasonably assured. Revenues do not include taxes collected from customers on behalf of taxing authorities such as sales tax and value-added tax. However, certain revenues include taxes that customers pay to taxing authorities on the Company’s behalf, such as foreign withholding tax. Revenue recognition for each source of revenue is also based on the following policies. | |
Distribution | |
Cable operators, DTH satellite and telecommunications service providers typically pay a per-subscriber fee for the right to distribute the Company’s programming under the terms of distribution contracts. The majority of the Company’s distribution fees are collected monthly throughout the year. Distribution revenues from cable operators and DTH service providers are recognized over the term of the contracts based on contracted programming rates and reported subscriber levels. The amount of distribution fees due to the Company are reported by distributors based on actual subscriber levels. Such information is generally not received until after the close of the reporting period. In these cases, the Company estimates the number of subscribers receiving the Company’s programming. Historical adjustments to recorded estimates have not been material. | |
Distribution revenues are recognized net of incentives the Company provides to operators in exchange for carrying its networks. Incentives include cash payments to operators (“launch incentives”). Launch incentives are capitalized as assets upon launch of the Company’s network by the operator and are amortized on a straight-line basis as a reduction of revenue over the term of the contract, including free periods. In instances where the distribution agreement is extended prior to the expiration of the original term, the Company evaluates the economics of the extended term and, if it is determined that the launch asset continues to benefit the Company over the extended term, then the Company will adjust the amortization period of the remaining launch incentives accordingly. Other incentives are recognized as a reduction of revenue as incurred. Amortization of launch incentives was $11 million, $18 million and $20 million for 2014, 2013 and 2012, respectively. | |
Revenues associated with digital distribution arrangements are recognized when the Company transfers control of the content and the rights to distribute the content to the customer. If multiple programs are included in the arrangement, the Company allocates the fee to each program based on its relative fair value. | |
Advertising | |
Advertising revenues are principally generated from the sale of bundled commercial time on television networks and websites. Advertising revenues are recognized net of agency commissions in the period advertising spots are aired. A substantial portion of the advertising contracts in the U.S. guarantee the advertiser a minimum audience level that either the program in which their advertisements are aired or the advertisement will reach. Revenues are recognized for the actual audience level delivered. The Company provides the advertiser with additional advertising spots in future periods if the guaranteed audience level is not delivered. Revenues are deferred for any shortfall in the guaranteed audience level until the guaranteed audience level is delivered or the rights associated with the guarantee lapse. Audience guarantees are initially developed internally based on planned programming, historical audience levels, the success of pilot programs, and market trends. In the U.S., actual audience and delivery information is published by independent ratings services. In certain instances, the independent ratings information is not received until after the close of the reporting period. In these cases, reported advertising revenue and related deferred revenue are based upon the Company’s estimates of the audience level delivered. Historical adjustments to recorded estimates have not been material. | |
Advertising revenues from online properties are recognized as impressions are delivered or the services are performed. | |
Other | |
Revenue for curriculum-based services is recognized ratably over the contract term. Royalties from brand licensing arrangements are earned as products are sold by the licensee. Revenue from the production studios segment is recognized when the content is delivered and available for airing by the customer. | |
Deferred Revenues | Deferred Revenue |
Deferred revenue primarily consists of cash received for television advertising for which the advertising spots have not yet fully delivered the ratings guaranteed, product licensing arrangements and advanced billings to subscribers for access to the Company’s curriculum-based streaming services. The amounts classified as current are expected to be earned within the next year. | |
Equity-Based Compensation Expense | Equity-Based Compensation Expense |
The Company has incentive plans under which unit awards, stock appreciation rights (“SARs”), performance based restricted stock units (“PRSUs”), service based restricted stock units (“RSUs”) and stock options are issued. | |
The Company measures the cost of employee services received in exchange for SARs and unit awards based on the fair value of the award less estimated forfeitures. Because certain SARs and all unit awards are cash-settled, the Company remeasures the fair value of these awards each reporting period until settlement. Compensation expense, including changes in fair value, for SARs and unit awards is recognized during the vesting period in proportion to the requisite service that has been rendered as of the reporting date. For awards with graded vesting, the Company measures fair value and records compensation expense separately for each vesting tranche. | |
Compensation expense for stock options is measured based on the fair value on the date of grant less estimated forfeitures. Compensation expense for stock options is recognized ratably during the vesting period. | |
The fair values of SARs, unit awards and stock options are estimated using the Black-Scholes option-pricing model. Because the Black-Scholes option-pricing model requires the use of subjective assumptions, changes in these assumptions can materially affect the fair value of awards. For SARs and unit awards the expected term is the period from the grant date to the end of the contractual term of the award unless the terms of the award allow for cash-settlement automatically on the date the awards vest, in which case the vesting date is used. For stock options, the expected term is determined using the simplified method that considers the period from the date of grant through the mid-point between the vesting date and the end of the contractual term of the award. Expected volatility is based on a combination of implied volatilities from traded options on the Company’s common stock and historical realized volatility of the Company’s common stock. The dividend yield is assumed to be zero because the Company has no history of paying cash dividends and no present intention to pay dividends. The risk-free interest rate is based on U.S. Treasury zero-coupon issues with a remaining term equal to the expected term of the award. | |
Vesting for certain PRSUs is subject to satisfying objective operating performance conditions, while vesting for other PRSUs is based on the achievement of a combination of objective and subjective operating performance conditions. Compensation expense for PRSUs that vest based on achieving objective operating performance conditions is measured based on the fair value of the Company’s Series A common stock on the date of grant less estimated forfeitures. Compensation expense for PRSUs that vest based on achieving subjective operating performance conditions is remeasured at fair value of the Company’s Series A and Series C common stock as applicable less estimated forfeitures each reporting period until the date of vesting. Compensation expense for all PRSUs is recognized ratably, following a graded vesting pattern during the vesting period only when it is probable that the operating performance conditions will be achieved. The Company records a cumulative adjustment to compensation expense for PRSUs if there is a change in the determination of whether or not it is probable the operating performance conditions will be achieved. | |
The Company measures the cost of employee services received in exchange for RSUs based on the fair value of the Company’s Series A common stock on the date of grant less estimated forfeitures. Compensation expense for RSUs is recognized ratably during the vesting period. | |
When recording compensation cost for equity-based awards, the Company is required to estimate the number of awards granted that are expected to be forfeited. In estimating forfeitures, the Company considers historical and expected forfeiture rates and anticipated events. On an ongoing basis, the Company adjusts compensation expense based on actual forfeitures and revises the forfeiture rate as necessary. | |
The Employee Stock Purchase Plan (the “DESPP”) enables eligible employees to purchase shares of the Company’s common stock through payroll deductions or other permitted means. The Company recognizes the fair value of the discount associated with shares purchased under the plan as equity-based compensation expense. | |
Equity-based compensation expense is recorded as a component of selling, general and administrative expense. The Company classifies the intrinsic value of SARs and unit awards that are vested or will become vested within one year as a current liability. | |
Excess tax benefits realized from the exercise of stock options and vested RSUs, PRSUs and the DESPP are reported as cash inflows from financing activities rather than as a reduction of taxes paid in cash flows from operating activities on the consolidated statements of cash flows. | |
Advertising Costs | Advertising Costs |
Advertising costs are expensed as promotional services are delivered. Advertising costs paid to third parties totaled $145 million, $156 million and $124 million for 2014, 2013 and 2012, respectively. | |
Income Taxes | Income Taxes |
Income taxes are recorded using the asset and liability method of accounting for income taxes. Deferred income taxes reflect the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Deferred taxes are measured using rates the Company expects to apply to taxable income in years in which those temporary differences are expected to reverse. A valuation allowance is provided for deferred tax assets if it is more likely than not such assets will be unrealized. | |
From time to time, the Company engages in transactions in which the tax consequences may be uncertain. Significant judgment is required in assessing and estimating the tax consequences of these transactions. The Company prepares and files tax returns based on its interpretation of tax laws and regulations. In the normal course of business, the Company's tax returns are subject to examination by various taxing authorities. Such examinations may result in future tax and interest assessments by these taxing authorities. | |
In determining the Company's tax provision for financial reporting purposes, the Company establishes a reserve for uncertain tax positions unless the Company determines that such positions are more likely than not to be sustained upon examination based on their technical merits, including the resolution of any appeals or litigations processes. There is considerable judgment involved in determining whether positions taken on the Company's tax returns are more likely than not to be sustained. The Company adjusts its tax reserve estimates periodically because of ongoing examinations by, and settlements with, various taxing authorities, as well as changes in tax laws, regulations and interpretations. | |
Concentrations Risk | Concentrations Risk |
Customers | |
The Company has long-term contracts with distributors around the world, including the largest distributors in the U.S. and major international distributors. In the U.S., approximately 90% of distribution revenues come from the top 10 distributors. Outside of the U.S., approximately 45% of distribution revenue comes from the top 10 distributors. Agreements in place with the major cable and satellite operators in the U.S. expire at various times beginning in 2015 through 2021. Failure to secure a renewal or a renewal on less favorable terms may have a material adverse effect on the Company’s financial condition and results of operations. Not only could the Company experience a reduction in distribution revenue, but it could also experience a reduction in advertising revenue which is impacted by affiliate subscriber levels and viewership. | |
No individual customer accounted for more than 10% of total consolidated revenues for 2014, 2013 and 2012. As of December 31, 2014 and 2013, the Company’s trade receivables do not represent a significant concentration of credit risk as the customers and markets in which the Company operates are varied and dispersed across many geographic areas. | |
Financial Institutions | |
Cash and cash equivalents are maintained with several financial institutions. The Company has deposits held with banks that exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions of reputable credit and, therefore, bear minimal credit risk. | |
Lender Counterparties | |
There is a risk that the counterparties associated with the Company’s revolving credit facility will not be available to fund as obligated under the terms of the facility. If funding under the revolving credit facility is unavailable, the Company may have to acquire a replacement credit facility from different counterparties at a higher cost or may be unable to find a suitable replacement and may have limited or no access to the commercial paper market. Typically, the Company seeks to manage these exposures by contracting with experienced large financial institutions and monitoring the credit quality of its lenders. As of December 31, 2014, the Company did not anticipate nonperformance by any of its counterparties. |
Derivative_Financial_Instrumen1
Derivative Financial Instruments Derivative Financial Instruments (Policies) | 12 Months Ended |
Dec. 31, 2014 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives, Policy [Policy Text Block] | Derivative Instruments |
The Company uses derivative financial instruments from time to time to modify its exposure to market risks from changes in interest rates and foreign exchange rates. The Company may designate derivative instruments as cash flow hedges or fair value hedges, as appropriate. The Company records all derivative instruments at fair value on a gross basis. For those derivative instruments designated as cash flow hedges that qualify for hedge accounting, gains or losses on the effective portion of derivative instruments are initially recorded in accumulated other comprehensive income on the consolidated balance sheets and reclassified to the same account on the consolidated statements of operations in which the hedged item is recognized on the consolidated statements of operations. The Company may also enter into derivative instruments that are not designated as hedges and do not qualify for hedge accounting. These contracts are intended to mitigate economic exposures of the Company. The changes in fair value of derivatives not designated as hedges and the ineffective portion of derivatives designated as hedging instruments are immediately recorded in other (expense) income, net. | |
The Company uses derivative financial instruments to modify its exposure to market risks from changes in foreign exchange rates and interest rates. The Company does not enter into or hold derivative financial instruments for speculative trading purposes. | |
Derivatives, Offsetting Fair Value Amounts, Policy [Policy Text Block] | The Company records all unsettled derivative contracts on the consolidated balance sheet at fair value (see Note 6); derivatives in an asset position are classified as assets, and derivatives in a liability position are classified as liabilities. The Company's master netting agreements allow the Company to settle derivative contracts denominated in the same currency with a single counterparty on the same day on a net basis. |
Redeemable_Noncontrolling_Inte1
Redeemable Noncontrolling Interest (Policies) | 12 Months Ended |
Dec. 31, 2014 | |
Redeemable Noncontrolling Interest (Policies) [Abstract] | |
Redeemable noncontrolling interests [Policy Text Block] | Redeemable noncontrolling interests reflected as of the balance sheet date are the greater of the noncontrolling interest balances adjusted for comprehensive income items and distributions or the redemption values remeasured at the period end foreign exchange rates (i.e. the "floor"). Adjustments to the carrying amount of redeemable noncontrolling interests to redemption value as a result of changes in exchange rates are reflected in currency translation adjustments, a component of other comprehensive (loss) income; however, such currency translation adjustments to redemption value are allocated to Discovery stockholders only. Redeemable noncontrolling interest adjustments of redemption value to the floor are reflected in retained earnings. The adjustment of redemption value to the floor that reflects a redemption in excess of fair value is included as an adjustment to income from continuing operations available to Discovery Communications, Inc. stockholders in the calculation of earnings per share. None of the current period adjustments reflect a redemption in excess of fair value (see Note 18). |
Equity_Policies
Equity (Policies) | 12 Months Ended |
Dec. 31, 2014 | |
Equity [Abstract] | |
Treasury Stock | Treasury Stock |
When stock is acquired for purposes other than formal or constructive retirement, the purchase price of the acquired stock is recorded in a separate treasury stock account, which is separately reported as a reduction of equity. | |
When stock is retired or purchased for constructive retirement, the purchase price is initially recorded as a reduction to the par value of the shares repurchased, with any excess purchase price over par value recorded as a reduction to additional paid-in capital related to the series of shares repurchased and any remainder excess purchase price recorded as a reduction to retained earnings. If the purchase price exceeds the amounts allocated to par value and additional paid-in capital related to the series of shares repurchased and retained earnings, the remainder is allocated to additional paid-in capital related to other series of shares. | |
Repurchased common stock is recorded in treasury stock on the consolidated balance sheet. |
Earnings_Per_Share_Policies
Earnings Per Share (Policies) | 12 Months Ended |
Dec. 31, 2014 | |
Accounting Policies [Abstract] | |
Earnings Per Share, Policy [Policy Text Block] | The Company follows the two-class method in calculating earnings per share. The two-class method calculates earnings |
per share by distinguishing between the classes of common securities based on the proportionate participation rights of each | |
security type in the Company's undistributed income. The Company's Series A, B and C common stock and the Series C convertible preferred stock are treated as one class for purposes of applying the two-class method, because they have substantially equal rights and share equally on an as converted basis with holders of Series A, B and C common stock with respect to income available to Discovery Communications, Inc. Following the 2014 Share Dividend on August 6, 2014, each share of Series C convertible preferred stock was convertible into two shares of Series C common stock. As a result of the change in conversion ratio, which did not impact the economic rights of any of the stockholders, and which occurred as a result of the 2014 Share Dividend, the Company recast all prior period earnings per share presentations to be consistent with the current period. | |
The computation of the diluted earnings per share of Series A, B and C common stockholders assumes the conversion of Series A and C convertible preferred stock, while the diluted earnings per share amounts of Series C convertible preferred stockholders does not assume conversion of those shares. | |
Net income available to Discovery Communications, Inc. Series C convertible preferred stockholders for diluted net income per share is included in net income available to Discovery Communications, Inc. Series A, B and C common stockholders for diluted net income per share. | |
The weighted-average number of diluted shares outstanding adjusts the weighted-average number of shares of Series A, B and C common stock outstanding for the potential dilution that would occur if common stock equivalents, including convertible preferred stock and equity-based awards, were converted into common stock or exercised, calculated using the treasury stock | |
method. Series A, B and C diluted common stock includes the impact of the conversion of Series A preferred stock, the impact of the conversion of Series C preferred stock, and the impact of stock-based compensation. Only outstanding PRSUs whose performance targets have been achieved as of the last day of the most recent period are included in the dilutive effect calculation. |
Reportable_Segments_Policies
Reportable Segments (Policies) | 12 Months Ended |
Dec. 31, 2014 | |
Accounting Policies [Abstract] | |
Segment Reporting, Policy [Policy Text Block] | The accounting policies of the reportable segments are the same as the Company’s, except that certain inter-segment transactions that are eliminated for consolidation are not eliminated at the segment level. Inter-segment transactions primarily include the purchase of advertising and content between segments. |
Adjusted OIBDA [Policy Text Block] | The Company evaluates the operating performance of its segments based on financial measures such as revenues and adjusted operating income before depreciation and amortization (“Adjusted OIBDA”). Adjusted OIBDA is defined as revenues less costs of revenues and selling, general and administrative expenses excluding: (i) mark-to-market equity-based compensation, (ii) depreciation and amortization, (iii) amortization of deferred launch incentives, (iv) restructuring and other charges, (v) certain impairment charges and (vi) gains and losses on business and asset dispositions. The Company uses this measure to assess the operating results and performance of its segments, perform analytical comparisons, identify strategies to improve performance and allocate resources to each segment. The Company believes Adjusted OIBDA is relevant to investors because it allows them to analyze the operating performance of each segment using the same metric management uses. The Company excludes mark-to-market equity-based compensation, restructuring and other charges, certain impairment charges, and gains and losses on business and asset dispositions from the calculation of Adjusted OIBDA due to their volatility. The Company also excludes depreciation of fixed assets, amortization of intangible assets and deferred launch incentives, as these amounts do not represent cash payments in the current reporting period. Certain corporate expenses are excluded from segment results to enable executive management to evaluate segment performance based upon the decisions of segment executives. Adjusted OIBDA should be considered in addition to, but not a substitute for, operating income, net income and other measures of financial performance reported in accordance with GAAP. |
Acquisitions_And_Dispositions_
Acquisitions And Dispositions (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Schedule of Pro Forma Information [Table Text Block] | |||||||||||||
Pro Forma | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Revenues | $ | 6,559 | $ | 6,413 | $ | 5,315 | |||||||
Net income | $ | 1,168 | $ | 1,084 | $ | 992 | |||||||
Schedule of Results of Operations for Business Combinations Included in Consolidated Results [Table Text Block] | The following table presents the revenue and earnings of the business combinations as reported within the consolidated financial statements for the year ended December 31, 2014 and 2013 (in millions). Amounts for the year ended December 31, 2012 were immaterial. | ||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Revenues: | |||||||||||||
Distribution | $ | 449 | $ | 187 | |||||||||
Advertising | 687 | 460 | |||||||||||
Other | 117 | 19 | |||||||||||
Total revenues | $ | 1,253 | $ | 666 | |||||||||
Net income | $ | 85 | $ | — | |||||||||
Hub [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The fair value of the assets acquired, liabilities assumed and noncontrolling interest recognized is presented in the table below (in millions). | ||||||||||||
23-Sep-14 | |||||||||||||
Goodwill | $ | 310 | |||||||||||
Intangible assets | 301 | ||||||||||||
Other assets acquired | 96 | ||||||||||||
Cash | 33 | ||||||||||||
Liabilities assumed | (125 | ) | |||||||||||
Redeemable noncontrolling interest | (238 | ) | |||||||||||
Carrying value of previously held equity interest | (313 | ) | |||||||||||
Net assets acquired | $ | 64 | |||||||||||
Eurosport International [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The fair value of the assets acquired, liabilities assumed, noncontrolling interest recognized and the remeasurement gain recorded on the previously held equity interest is presented in the table below (in millions). | ||||||||||||
May 30, 2014 | |||||||||||||
Goodwill | $ | 785 | |||||||||||
Intangible assets | 467 | ||||||||||||
Other assets acquired | 169 | ||||||||||||
Cash | 47 | ||||||||||||
Removal of TF1 put right | 27 | ||||||||||||
Currency translation adjustment | 7 | ||||||||||||
Remeasurement gain on previously held equity interest | (29 | ) | |||||||||||
Liabilities assumed | (169 | ) | |||||||||||
Deferred tax liabilities | (164 | ) | |||||||||||
Redeemable noncontrolling interest | (558 | ) | |||||||||||
Carrying value of previously held equity interest | (231 | ) | |||||||||||
Net assets acquired | $ | 351 | |||||||||||
SBS Nordic [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The table below presents the fair value allocation of the purchase price to the assets and liabilities acquired (in millions). | ||||||||||||
9-Apr-13 | |||||||||||||
Goodwill | $ | 779 | |||||||||||
Intangible assets | 1,001 | ||||||||||||
Content | 248 | ||||||||||||
Other assets acquired | 212 | ||||||||||||
Cash | 106 | ||||||||||||
Liabilities assumed | (278 | ) | |||||||||||
Deferred tax liabilities | (243 | ) | |||||||||||
Redeemable noncontrolling interest | (6 | ) | |||||||||||
Net assets acquired | $ | 1,819 | |||||||||||
Discovery Japan [Member] | |||||||||||||
Business Acquisition [Line Items] | |||||||||||||
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | |||||||||||||
10-Jan-13 | |||||||||||||
Goodwill | $ | 103 | |||||||||||
Intangible assets | 100 | ||||||||||||
Other assets acquired | 25 | ||||||||||||
Currency translation adjustment | 6 | ||||||||||||
Cash | 4 | ||||||||||||
Remeasurement gain on previously held equity interest | (92 | ) | |||||||||||
Liabilities assumed | (55 | ) | |||||||||||
Redeemable noncontrolling interest | (35 | ) | |||||||||||
Carrying value of previously held equity interest | (3 | ) | |||||||||||
Net assets acquired | $ | 53 | |||||||||||
Investments_Tables
Investments (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2014 | |||||||||||
Investments [Abstract] | |||||||||||
Schedule Of Investments | The Company’s investments consisted of the following (in millions). | ||||||||||
December 31, | |||||||||||
Category | Balance Sheet Location | 2014 | 2013 | ||||||||
Trading securities: | |||||||||||
Mutual funds | Prepaid expenses and other current assets | $ | 147 | $ | 129 | ||||||
Available-for-sale securities: | |||||||||||
Common stock | Other noncurrent assets | — | 4 | ||||||||
Equity method investments | Equity method investments | 644 | 1,087 | ||||||||
Cost method investments | Other noncurrent assets | 29 | 34 | ||||||||
Total investments | $ | 820 | $ | 1,254 | |||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||
Fair Value Assets And Liabilities | The table below presents assets and liabilities measured at fair value on a recurring basis (in millions). | ||||||||||||||||||
December 31, 2014 | |||||||||||||||||||
Category | Balance Sheet Location | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets: | |||||||||||||||||||
Trading securities: | |||||||||||||||||||
Mutual funds | Prepaid expenses and other current assets | $ | 147 | $ | — | $ | — | $ | 147 | ||||||||||
Derivatives: | |||||||||||||||||||
Foreign exchange | Prepaid expenses and other current assets | — | 17 | — | 17 | ||||||||||||||
Foreign exchange | Other noncurrent assets | — | 7 | — | 7 | ||||||||||||||
Total | $ | 147 | $ | 24 | $ | — | $ | 171 | |||||||||||
Liabilities: | |||||||||||||||||||
Deferred compensation plan | Accrued liabilities | $ | 147 | $ | — | $ | — | $ | 147 | ||||||||||
Derivatives: | |||||||||||||||||||
Foreign exchange | Accrued liabilities | — | 1 | — | 1 | ||||||||||||||
Interest Rate | Accrued liabilities | — | 28 | — | 28 | ||||||||||||||
TF1 Eurosport France put right | Accrued liabilities | — | — | 4 | 4 | ||||||||||||||
Total | $ | 147 | $ | 29 | $ | 4 | $ | 180 | |||||||||||
December 31, 2013 | |||||||||||||||||||
Category | Balance Sheet Location | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||
Assets: | |||||||||||||||||||
Trading securities: | |||||||||||||||||||
Mutual funds | Prepaid expenses and other current assets | $ | 129 | $ | — | $ | — | $ | 129 | ||||||||||
Available-for-sale securities: | |||||||||||||||||||
Common Stock | Other noncurrent assets | 4 | — | — | 4 | ||||||||||||||
Derivatives: | |||||||||||||||||||
Foreign exchange | Prepaid expenses and other current assets | — | 4 | — | 4 | ||||||||||||||
Foreign exchange | Other noncurrent assets | — | 9 | — | 9 | ||||||||||||||
Total | $ | 133 | $ | 13 | $ | — | $ | 146 | |||||||||||
Liabilities: | |||||||||||||||||||
Deferred compensation plan | Accrued liabilities | $ | 129 | $ | — | $ | — | $ | 129 | ||||||||||
Derivatives: | |||||||||||||||||||
Foreign exchange | Accrued liabilities | — | 1 | — | 1 | ||||||||||||||
TFI Eurosport put right | Accrued liabilities | — | — | 20 | 20 | ||||||||||||||
Total | $ | 129 | $ | 1 | $ | 20 | $ | 150 | |||||||||||
Content_Rights_Tables
Content Rights (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Content Rights [Abstract] | |||||||||||||
Schedule Of Content Rights | The following table presents a summary of the components of content rights (in millions). | ||||||||||||
December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Produced content rights: | |||||||||||||
Completed | $ | 3,242 | $ | 3,566 | |||||||||
In-production | 377 | 334 | |||||||||||
Coproduced content rights: | |||||||||||||
Completed | 696 | 637 | |||||||||||
In-production | 83 | 84 | |||||||||||
Licensed content rights: | |||||||||||||
Acquired | 949 | 880 | |||||||||||
Prepaid | 82 | 48 | |||||||||||
Content rights, at cost | 5,429 | 5,549 | |||||||||||
Accumulated amortization | (3,127 | ) | (3,389 | ) | |||||||||
Total content rights, net | 2,302 | 2,160 | |||||||||||
Current portion | (329 | ) | (277 | ) | |||||||||
Noncurrent portion | $ | 1,973 | $ | 1,883 | |||||||||
Schedule Of Content Expense | Content expense consisted of the following (in millions). | ||||||||||||
For the year ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Content amortization | $ | 1,462 | $ | 1,157 | $ | 832 | |||||||
Other production charges | 155 | 100 | 75 | ||||||||||
Content impairments (a) | 95 | 33 | 33 | ||||||||||
Total content expense | $ | 1,712 | $ | 1,290 | $ | 940 | |||||||
Property_And_Equipment_Tables
Property And Equipment (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Property, Plant and Equipment [Abstract] | ||||||||
Components Of Property And Equipment | Property and equipment consisted of the following (in millions). | |||||||
December 31, | ||||||||
2014 | 2013 | |||||||
Land, buildings and leasehold improvements | $ | 340 | $ | 318 | ||||
Broadcast equipment | 612 | 556 | ||||||
Capitalized software costs | 258 | 222 | ||||||
Office equipment, furniture, fixtures and other | 332 | 301 | ||||||
Property and equipment, at cost | 1,542 | 1,397 | ||||||
Accumulated depreciation | (988 | ) | (883 | ) | ||||
Property and equipment, net | $ | 554 | $ | 514 | ||||
Goodwill_And_Intangible_Assets1
Goodwill And Intangible Assets (Tables) | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||
Goodwill By Reportable Segment | Changes in the carrying value of goodwill, by operating segment, were as follows (in millions). | |||||||||||||||||||||||||
U.S. | International | Education and Other | Total | |||||||||||||||||||||||
Networks | Networks | |||||||||||||||||||||||||
31-Dec-12 | $ | 4,998 | $ | 1,371 | $ | 30 | $ | 6,399 | ||||||||||||||||||
Acquisitions (See Note 3.) | — | 924 | 25 | 949 | ||||||||||||||||||||||
Dispositions | (9 | ) | — | — | (9 | ) | ||||||||||||||||||||
Foreign currency translation | — | 1 | 1 | 2 | ||||||||||||||||||||||
31-Dec-13 | 4,989 | 2,296 | 56 | 7,341 | ||||||||||||||||||||||
Acquisitions (See Note 3.) | 310 | 794 | 28 | 1,132 | ||||||||||||||||||||||
Dispositions | (12 | ) | — | — | (12 | ) | ||||||||||||||||||||
Foreign currency translation | — | (221 | ) | (4 | ) | (225 | ) | |||||||||||||||||||
31-Dec-14 | $ | 5,287 | $ | 2,869 | $ | 80 | $ | 8,236 | ||||||||||||||||||
Schedule Of Intangible Assets Subject To Amortization | Finite-lived intangible assets consisted of the following (in millions, except years). | |||||||||||||||||||||||||
Weighted | 31-Dec-14 | 31-Dec-13 | ||||||||||||||||||||||||
Average | ||||||||||||||||||||||||||
Amortization | ||||||||||||||||||||||||||
Period (Years) | Gross | Accumulated | Net | Gross | Accumulated | Net | ||||||||||||||||||||
Amortization | Amortization | |||||||||||||||||||||||||
Intangible assets subject to amortization: | ||||||||||||||||||||||||||
Trademarks | 10 | $ | 489 | $ | (99 | ) | $ | 390 | $ | 432 | $ | (58 | ) | $ | 374 | |||||||||||
Customer relationships | 18 | 1,701 | (370 | ) | 1,331 | 1,189 | (262 | ) | 927 | |||||||||||||||||
Other | 13 | 107 | (21 | ) | 86 | 112 | (12 | ) | 100 | |||||||||||||||||
Total | $ | 2,297 | $ | (490 | ) | $ | 1,807 | $ | 1,733 | $ | (332 | ) | $ | 1,401 | ||||||||||||
Schedule Of Intangible Assets Not Subject To Amortization | Indefinite-lived intangible assets not subject to amortization (in millions): | |||||||||||||||||||||||||
December 31, | ||||||||||||||||||||||||||
2014 | 2013 | |||||||||||||||||||||||||
Intangible assets not subject to amortization: | ||||||||||||||||||||||||||
Trademarks | $ | 164 | $ | 164 | ||||||||||||||||||||||
Amortization Expense For Intangible Assets | Amortization expense relating to intangible assets subject to amortization for each of the next five years and thereafter is estimated to be as follows (in millions). | |||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | |||||||||||||||||||||
Amortization expense | $ | 199 | $ | 191 | $ | 180 | $ | 169 | $ | 162 | $ | 906 | ||||||||||||||
Debt_Tables
Debt (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||||
Outstanding Debt | The table below presents the components of outstanding debt (in millions). | ||||||||||||||||||||||||
December 31, | |||||||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||||||
3.70% Senior Notes, semi-annual interest, due June 2015 | $ | 850 | $ | 850 | |||||||||||||||||||||
5.625% Senior Notes, semi-annual interest, due August 2019 | 500 | 500 | |||||||||||||||||||||||
5.05% Senior Notes, semi-annual interest, due June 2020 | 1,300 | 1,300 | |||||||||||||||||||||||
4.375% Senior Notes, semi-annual interest, due June 2021 | 650 | 650 | |||||||||||||||||||||||
2.375% Senior Notes, euro denominated, annual interest, due March 2022 | 365 | — | |||||||||||||||||||||||
3.30% Senior Notes, semi-annual interest, due May 2022 | 500 | 500 | |||||||||||||||||||||||
3.25% Senior Notes, semi-annual interest, due April 2023 | 350 | 350 | |||||||||||||||||||||||
6.35% Senior Notes, semi-annual interest, due June 2040 | 850 | 850 | |||||||||||||||||||||||
4.95% Senior Notes, semi-annual interest, due May 2042 | 500 | 500 | |||||||||||||||||||||||
4.875% Senior Notes, semi-annual interest, due April 2043 | 850 | 850 | |||||||||||||||||||||||
Revolving credit facility | 38 | — | |||||||||||||||||||||||
Commercial paper | 229 | — | |||||||||||||||||||||||
Capital lease obligations | 187 | 165 | |||||||||||||||||||||||
Total debt | 7,169 | 6,515 | |||||||||||||||||||||||
Unamortized discount | (16 | ) | (16 | ) | |||||||||||||||||||||
Debt, net | 7,153 | 6,499 | |||||||||||||||||||||||
Current portion of debt | (1,107 | ) | (17 | ) | |||||||||||||||||||||
Noncurrent portion of debt | $ | 6,046 | $ | 6,482 | |||||||||||||||||||||
Debt Repayment Schedule | The following table presents a summary of scheduled and estimated debt payments, excluding the revolving credit facility, commercial paper borrowings and capital lease obligations, for the succeeding five years based on the amount of debt outstanding as of December 31, 2014 (in millions). | ||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | ||||||||||||||||||||
Long-term debt repayments | $ | 850 | $ | — | $ | — | $ | — | $ | 500 | $ | 5,365 | |||||||||||||
Derivative_Financial_Instrumen2
Derivative Financial Instruments (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block] | The following table summarizes the notional amount and fair value of the Company's derivative positions (in millions). | ||||||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||||||
Balance Sheet Location | Notional | Fair Value | Notional | Fair Value | |||||||||||||||
Derivatives designated as hedges: | |||||||||||||||||||
Foreign exchange | Prepaid expenses and other current assets | $ | 425 | $ | 17 | $ | 16 | $ | 4 | ||||||||||
Foreign exchange | Other noncurrent assets | $ | 20 | $ | 7 | $ | 36 | $ | 9 | ||||||||||
Foreign exchange | Accrued liabilities | $ | 35 | $ | 1 | $ | — | $ | — | ||||||||||
Interest rate | Accrued liabilities | $ | 475 | $ | 28 | $ | — | $ | — | ||||||||||
Derivatives not designated as hedges: | |||||||||||||||||||
Foreign exchange | Prepaid expenses and other current assets | $ | 3 | $ | — | $ | — | $ | — | ||||||||||
Foreign exchange | Accrued liabilities | $ | — | $ | — | $ | 4 | $ | 1 | ||||||||||
Foreign exchange | Other noncurrent liabilities | $ | — | $ | — | $ | 3 | $ | — | ||||||||||
Schedule of Derivative Instruments Designated as Cash Flow Hedges, Effect on Other Comprehensive Income (Loss) [Table Text Block] | The following table presents the pretax impact of derivatives designated as cash flow hedges on income and other comprehensive (loss) income (in millions). | ||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||
Gains (losses) recognized in accumulated other comprehensive income | |||||||||||||||||||
Foreign exchange | $ | 14 | $ | 10 | $ | — | |||||||||||||
Interest rate | $ | (28 | ) | $ | — | $ | (2 | ) | |||||||||||
Gains reclassified into income from accumulated other comprehensive income (effective portion) | |||||||||||||||||||
Foreign exchange - costs of revenues | $ | 1 | $ | — | $ | — | |||||||||||||
Foreign exchange - selling, general and administrative expense | $ | — | $ | 1 | $ | — | |||||||||||||
Foreign exchange - other (expense) income, net | $ | 3 | $ | — | $ | — | |||||||||||||
Schedule of Gains (Losses on Derivatives Not Designated as Hedges [Table Text Block] | The following table presents the pretax gains (losses) on derivatives not designated as hedges and recognized in other (expense) income, net in the consolidated statements of operations (in millions). | ||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||
Foreign exchange derivatives | $ | 1 | $ | (56 | ) | $ | (2 | ) | |||||||||||
Redeemable_Noncontrolling_Inte2
Redeemable Noncontrolling Interest (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2014 | |||||||||
Noncontrolling Interest [Abstract] | |||||||||
Redeemable noncontrolling interests [Table Text Block] | The table below presents the reconciliation of changes in redeemable noncontrolling interests (in millions). | ||||||||
December 31, | |||||||||
2014 | 2013 | ||||||||
Beginning balance | $ | 36 | $ | — | |||||
Initial fair value of redeemable noncontrolling interests of acquired businesses | 796 | 41 | |||||||
Purchase of subsidiary shares at fair value | (6 | ) | — | ||||||
Cash distributions to redeemable noncontrolling interests | (2 | ) | — | ||||||
Comprehensive (loss) income adjustments: | |||||||||
Net (loss) income attributable to redeemable noncontrolling interests | (4 | ) | 1 | ||||||
Other comprehensive loss attributable to redeemable noncontrolling interests | (40 | ) | (3 | ) | |||||
Currency translation on redemption values | (64 | ) | (5 | ) | |||||
Retained earnings adjustments: | |||||||||
Adjustments to redemption value | 31 | 2 | |||||||
Ending balance | $ | 747 | $ | 36 | |||||
Equity_Tables
Equity (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||
Equity [Abstract] | ||||||||||||||||||||||||||||||||||||
Schedule of Stock Repurchases | The table below presents a summary of stock repurchases (in millions). | |||||||||||||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||
Series A Common Stock: | ||||||||||||||||||||||||||||||||||||
Shares repurchased | — | 0.8 | 2 | |||||||||||||||||||||||||||||||||
Purchase price | $ | — | $ | 62 | $ | 109 | ||||||||||||||||||||||||||||||
Series C Common Stock: | ||||||||||||||||||||||||||||||||||||
Shares repurchased | 21.3 | 13.3 | 26.5 | |||||||||||||||||||||||||||||||||
Purchase price | $ | 1,232 | $ | 987 | $ | 1,271 | ||||||||||||||||||||||||||||||
Total shares repurchased | 21.3 | 14.1 | 28.5 | |||||||||||||||||||||||||||||||||
Total purchase price | $ | 1,232 | $ | 1,049 | $ | 1,380 | ||||||||||||||||||||||||||||||
Schedule of Other Comprehensive (Loss) Income | The table below presents the tax effects related to each component of other comprehensive (loss) income and reclassifications made into the consolidated statements of operations (in millions). | |||||||||||||||||||||||||||||||||||
Year Ended December 31, 2014 | Year Ended December 31, 2013 | Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||||
Pretax | Tax | Net-of-tax | Pretax | Tax Benefit (Provision) | Net-of-tax | Pretax | Tax Benefit (Provision) | Net-of-tax | ||||||||||||||||||||||||||||
Benefit (Provision) | ||||||||||||||||||||||||||||||||||||
Currency translation adjustments: | ||||||||||||||||||||||||||||||||||||
Unrealized (losses) gains | $ | (401 | ) | $ | 9 | $ | (392 | ) | $ | 16 | $ | (21 | ) | $ | (5 | ) | $ | 21 | $ | 7 | $ | 28 | ||||||||||||||
Reclassifications to other (expense) income, net | (7 | ) | — | (7 | ) | (9 | ) | 3 | (6 | ) | — | — | — | |||||||||||||||||||||||
Derivative and market value adjustments: | ||||||||||||||||||||||||||||||||||||
Unrealized losses | (12 | ) | 5 | (7 | ) | 13 | (4 | ) | 9 | (2 | ) | 1 | (1 | ) | ||||||||||||||||||||||
Reclassifications to costs of revenues | (1 | ) | — | (1 | ) | — | — | — | — | — | — | |||||||||||||||||||||||||
Reclassifications to selling, general and administrative expense | — | — | — | (1 | ) | — | (1 | ) | — | — | — | |||||||||||||||||||||||||
Reclassifications to gain on disposition | (5 | ) | 2 | (3 | ) | — | — | — | — | — | — | |||||||||||||||||||||||||
Reclassifications to other (expense) income, net | (3 | ) | 1 | (2 | ) | — | — | — | — | — | — | |||||||||||||||||||||||||
Other comprehensive (loss) income | $ | (429 | ) | $ | 17 | $ | (412 | ) | $ | 19 | $ | (22 | ) | $ | (3 | ) | $ | 19 | $ | 8 | $ | 27 | ||||||||||||||
Schedule Of Change In Components Of Accumulated Other Comprehensive (Loss) Income | The table below presents the changes in the components of accumulated other comprehensive (loss) income, net of taxes (in millions). There were no reclassifications from accumulated other comprehensive income in 2012. | |||||||||||||||||||||||||||||||||||
Currency Translation Adjustments | Derivative | Accumulated | ||||||||||||||||||||||||||||||||||
and Market | Other | |||||||||||||||||||||||||||||||||||
Value | Comprehensive (Loss) Income | |||||||||||||||||||||||||||||||||||
Adjustments | ||||||||||||||||||||||||||||||||||||
31-Dec-11 | $ | (29 | ) | $ | 6 | $ | (23 | ) | ||||||||||||||||||||||||||||
Other comprehensive income (loss) | 28 | (1 | ) | 27 | ||||||||||||||||||||||||||||||||
31-Dec-12 | (1 | ) | 5 | 4 | ||||||||||||||||||||||||||||||||
Other comprehensive (loss) income before reclassifications | (5 | ) | 9 | 4 | ||||||||||||||||||||||||||||||||
Reclassifications from accumulated other comprehensive (loss) income to net income | (6 | ) | (1 | ) | (7 | ) | ||||||||||||||||||||||||||||||
Other comprehensive (loss) income | (11 | ) | 8 | (3 | ) | |||||||||||||||||||||||||||||||
Other comprehensive loss (income) attributable to redeemable noncontrolling interests | 4 | (1 | ) | 3 | ||||||||||||||||||||||||||||||||
31-Dec-13 | (8 | ) | 12 | 4 | ||||||||||||||||||||||||||||||||
Other comprehensive loss before reclassifications | (392 | ) | (7 | ) | (399 | ) | ||||||||||||||||||||||||||||||
Reclassifications from accumulated other comprehensive (loss) income to net income | (7 | ) | (6 | ) | (13 | ) | ||||||||||||||||||||||||||||||
Other comprehensive loss | (399 | ) | (13 | ) | (412 | ) | ||||||||||||||||||||||||||||||
Other comprehensive loss attributable to redeemable noncontrolling interests | 40 | — | 40 | |||||||||||||||||||||||||||||||||
31-Dec-14 | $ | (367 | ) | $ | (1 | ) | $ | (368 | ) |
EquityBased_Compensation_Table
Equity-Based Compensation (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||
Stock-Based Compensation Expense | The table below presents the components of equity-based compensation expense (in millions). | |||||||||||||
Year Ended December 31, | ||||||||||||||
2014 | 2013 | 2012 | ||||||||||||
PRSUs and RSUs | $ | 60 | $ | 41 | $ | 36 | ||||||||
Stock options | 23 | 25 | 29 | |||||||||||
Unit awards | 5 | 60 | 68 | |||||||||||
SARs | (11 | ) | 63 | 21 | ||||||||||
ESPP | 1 | 1 | — | |||||||||||
Total equity-based compensation expense | $ | 78 | $ | 190 | $ | 154 | ||||||||
Tax benefit recognized | $ | 27 | $ | 51 | $ | 45 | ||||||||
PRSUs And RSUs [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||
Stock-Based Compensation - Summary Of Activities | PRSUs and RSUs | |||||||||||||
The table below presents PRSU and RSU activity (in millions, except years and weighted-average grant price). | ||||||||||||||
PRSUs and | Weighted-Average | Weighted-Average | Aggregate | |||||||||||
RSUs | Grant | Remaining | Fair | |||||||||||
Price | Contractual | Value | ||||||||||||
Term | ||||||||||||||
(years) | ||||||||||||||
Outstanding as of December 31, 2013 | 4.8 | $ | 23 | |||||||||||
Granted | 3.3 | $ | 41.51 | |||||||||||
Converted | (1.4 | ) | $ | 19.49 | $ | 59 | ||||||||
Forfeited | (0.2 | ) | $ | 37.46 | ||||||||||
Outstanding as of December 31, 2014 | 6.5 | $ | 32.71 | 0.86 | $ | 220 | ||||||||
Vested and expected to vest as of December 31, 2014 | 6.2 | $ | 32.54 | 0.8 | $ | 212 | ||||||||
Stock Options [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||
Stock-Based Compensation - Summary Of Activities | Stock Options | |||||||||||||
The table below presents stock option activity (in millions, except years and weighted-average exercise price). | ||||||||||||||
Stock Options | Weighted- | Weighted- | Aggregate | |||||||||||
Average | Average | Intrinsic | ||||||||||||
Exercise | Remaining | Value | ||||||||||||
Price | Contractual | |||||||||||||
Term | ||||||||||||||
(years) | ||||||||||||||
Outstanding as of December 31, 2013 | 15.2 | $ | 18.23 | |||||||||||
Granted | 2.2 | $ | 40.85 | |||||||||||
Exercised | (2.4 | ) | $ | 14.04 | $ | 63 | ||||||||
Forfeited | (0.3 | ) | $ | 30.89 | ||||||||||
Outstanding as of December 31, 2014 | 14.7 | $ | 22.01 | 3.89 | $ | 202 | ||||||||
Vested and expected to vest as of December 31, 2014 | 14.3 | $ | 21.63 | 3.91 | $ | 197 | ||||||||
Exercisable as of December 31, 2014 | 10.4 | $ | 16.85 | 3.38 | $ | 187 | ||||||||
Scheduled Of Weighted-Average Assumptions Used To Determine Fair Value Of Stock Options | The fair value of stock options is estimated using the Black-Scholes option-pricing model. The weighted-average assumptions used to determine the fair value of stock options as of the date of grant during 2014, 2013 and 2012 were as follows. | |||||||||||||
Year Ended December 31, | ||||||||||||||
2014 | 2013 | 2012 | ||||||||||||
Risk-free interest rate | 1.53 | % | 0.79 | % | 1.02 | % | ||||||||
Expected term (years) | 4.97 | 4.97 | 4.97 | |||||||||||
Expected volatility | 26.2 | % | 35.97 | % | 38.33 | % | ||||||||
Dividend yield | — | — | — | |||||||||||
SARs [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||
Stock-Based Compensation - Summary Of Activities | The table below presents SAR award activity (in millions, except years and weighted-average grant price). | |||||||||||||
SARs | Weighted- | Weighted- | Aggregate | |||||||||||
Average | Average | Intrinsic | ||||||||||||
Grant | Remaining | Value | ||||||||||||
Price | Contractual | |||||||||||||
Term | ||||||||||||||
(years) | ||||||||||||||
Outstanding as of December 31, 2013 | 6.4 | $ | 27.6 | |||||||||||
Granted | 7.5 | $ | 43.23 | |||||||||||
Settled | (1.8 | ) | $ | 26.78 | $ | 29 | ||||||||
Outstanding as of December 31, 2014 | 12.1 | $ | 37.38 | 1.3 | $ | 29 | ||||||||
Vested and expected to vest as of December 31, 2014 | 12.1 | $ | 37.38 | 1.29 | $ | 29 | ||||||||
Scheduled Of Weighted-Average Assumptions Used To Determine, Fair Value Of SARs | The fair value of outstanding SARs is estimated using the Black-Scholes option-pricing model. The weighted-average assumptions used to determine the fair value of outstanding SARs were as follows. | |||||||||||||
Year Ended December 31, | ||||||||||||||
2014 | 2013 | 2012 | ||||||||||||
Risk-free interest rate | 0.59 | % | 0.45 | % | 0.29 | % | ||||||||
Expected term (years) | 1.3 | 1.38 | 1.63 | |||||||||||
Expected volatility | 27.72 | % | 22.77 | % | 26.31 | % | ||||||||
Dividend yield | — | — | — | |||||||||||
Unit Awards [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||||||
Stock-Based Compensation - Summary Of Activities | Unit Awards | |||||||||||||
The table below presents unit award activity (in millions, except years and weighted-average grant price). | ||||||||||||||
Unit Awards | Weighted- | Weighted- | Aggregate | |||||||||||
Average | Average | Intrinsic | ||||||||||||
Grant | Remaining | Value | ||||||||||||
Price | Contractual | |||||||||||||
Term | ||||||||||||||
(years) | ||||||||||||||
Outstanding as of December 31, 2013 | 3.3 | $ | 19.23 | |||||||||||
Settled | (2.1 | ) | $ | 18.48 | $ | 52 | ||||||||
Outstanding as of December 31, 2014 | 1.2 | $ | 20.59 | 0.01 | $ | 16 | ||||||||
Vested and expected to vest as of December 31, 2014 | 1.2 | $ | 20.59 | 0.01 | $ | 16 | ||||||||
Restructuring_And_Other_Charge1
Restructuring And Other Charges (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Restructuring and Related Activities [Abstract] | |||||||||||||
Restructuring and Other Charges, By Reporting Segment | Restructuring and other charges, by reportable segment were as follows (in millions). | ||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
U.S. Networks | $ | 61 | $ | 4 | $ | 3 | |||||||
International Networks | 24 | 11 | 1 | ||||||||||
Education and Other | 3 | — | — | ||||||||||
Corporate | 2 | 1 | 2 | ||||||||||
Total restructuring and other charges | $ | 90 | $ | 16 | $ | 6 | |||||||
Total Restructuring And Other Charges | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Restructuring charges | $ | 35 | $ | 16 | $ | 6 | |||||||
Other charges | 55 | — | — | ||||||||||
Total restructuring and other charges | $ | 90 | $ | 16 | $ | 6 | |||||||
Changes In Exit And Restructuring Liabilities | Changes in restructuring and other liabilities by major category were as follows (in millions). | ||||||||||||
Contract | Employee | Total | |||||||||||
Terminations | Relocations/ | ||||||||||||
Terminations | |||||||||||||
31-Dec-11 | $ | 4 | $ | 5 | $ | 9 | |||||||
Net accruals | 1 | 5 | 6 | ||||||||||
Cash paid | (2 | ) | (7 | ) | (9 | ) | |||||||
December 31, 2012 | 3 | 3 | 6 | ||||||||||
Net accruals | — | 16 | 16 | ||||||||||
Cash paid | (1 | ) | (14 | ) | (15 | ) | |||||||
December 31, 2013 | 2 | 5 | 7 | ||||||||||
Net accruals | 3 | 32 | 35 | ||||||||||
Cash paid | (1 | ) | (22 | ) | (23 | ) | |||||||
December 31, 2014 | $ | 4 | $ | 15 | $ | 19 | |||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||
Schedule Of Components Of Income From Continuing Operations Before Income Taxes | The domestic and foreign components of income from continuing operations before income taxes were as follows (in millions). | ||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Domestic | $ | 1,251 | $ | 1,104 | $ | 869 | |||||||
Foreign | 496 | 632 | 649 | ||||||||||
Income from continuing operations before income taxes | $ | 1,747 | $ | 1,736 | $ | 1,518 | |||||||
Schedule Of Components Of Provision For Income Taxes | The components of the provision for income taxes were as follows (in millions). | ||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Current: | |||||||||||||
Federal | $ | 529 | $ | 333 | $ | 419 | |||||||
State and local | 64 | 68 | 95 | ||||||||||
Foreign | 198 | 175 | 118 | ||||||||||
791 | 576 | 632 | |||||||||||
Deferred: | |||||||||||||
Federal | (112 | ) | 113 | (69 | ) | ||||||||
State and local | (16 | ) | (2 | ) | 9 | ||||||||
Foreign | (53 | ) | (28 | ) | (10 | ) | |||||||
(181 | ) | 83 | (70 | ) | |||||||||
Provision for income taxes | $ | 610 | $ | 659 | $ | 562 | |||||||
Schedule Of Effective Income Tax Rate Reconciliation | The following table reconciles the Company's effective income tax rate to the U.S. federal statutory income tax rate of 35%. | ||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
U.S. federal statutory income tax rate | 35 | % | 35 | % | 35 | % | |||||||
State and local income taxes, net of federal tax benefit | 2 | % | 3 | % | 5 | % | |||||||
Effect of foreign operations | 2 | % | 2 | % | (1 | )% | |||||||
Domestic production activity deductions | (3 | )% | (2 | )% | (3 | )% | |||||||
Change in uncertain tax positions | (1 | )% | — | % | — | % | |||||||
Remeasurement gain on previously held equity interest | — | % | (2 | )% | — | % | |||||||
Other, net | — | % | 2 | % | 1 | % | |||||||
Effective income tax rate | 35 | % | 38 | % | 37 | % | |||||||
Schedule Of Deferred Tax Assets And Liabilities | Components of deferred income tax assets and liabilities were as follows (in millions). | ||||||||||||
December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Deferred income tax assets: | |||||||||||||
Accounts receivable | $ | 3 | $ | 3 | |||||||||
Tax attribute carry-forward | 30 | 126 | |||||||||||
Unrealized loss on derivatives and foreign currency translation adjustments | (16 | ) | 2 | ||||||||||
Accrued liabilities and other | 243 | 202 | |||||||||||
Total deferred income tax assets | 260 | 333 | |||||||||||
Valuation allowance | (13 | ) | (18 | ) | |||||||||
Net deferred income tax assets | 247 | 315 | |||||||||||
Deferred income tax liabilities: | |||||||||||||
Intangible assets | (521 | ) | (421 | ) | |||||||||
Content rights | (140 | ) | (280 | ) | |||||||||
Equity method investments | (64 | ) | (131 | ) | |||||||||
Notes receivable | (8 | ) | (16 | ) | |||||||||
Other | (15 | ) | (31 | ) | |||||||||
Total deferred income tax liabilities | (748 | ) | (879 | ) | |||||||||
Net deferred income tax liabilities | $ | (501 | ) | $ | (564 | ) | |||||||
Schedule Of Income Tax Assets And Liabilities Financial Position | The Company’s deferred income tax assets and liabilities were reported on the consolidated balance sheets as follows (in millions). | ||||||||||||
December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Deferred income tax assets | $ | 87 | $ | 73 | |||||||||
Deferred income tax liabilities | (588 | ) | (637 | ) | |||||||||
Net deferred income tax liabilities | $ | (501 | ) | $ | (564 | ) | |||||||
Summary of Operating Loss Carryforwards [Table Text Block] | The Company’s operating loss carry-forwards were reported on the consolidated balance sheets as follows (in millions). | ||||||||||||
Federal(a) | State | Foreign | |||||||||||
Operating loss carry-forwards | $ | 8 | $ | 603 | $ | 39 | |||||||
Deferred tax asset related to loss carry-forwards | $ | 3 | $ | 11 | $ | 8 | |||||||
Valuation allowance against loss carry-forwards | $ | — | $ | (9 | ) | $ | (4 | ) | |||||
Earliest expiration date of loss carry-forwards | 2028 | 2015 | 2015 | ||||||||||
(a) The use of the federal operating loss carry-forwards is subject to annual limitations. | |||||||||||||
Schedule Of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amounts of unrecognized tax benefits (without related interest amounts) is as follows (in millions). | ||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Beginning balance | $ | 185 | $ | 128 | $ | 46 | |||||||
Additions based on tax positions related to the current year | 40 | 25 | 48 | ||||||||||
Additions for tax positions of prior years | 82 | 36 | 39 | ||||||||||
Additions for tax positions acquired in business combinations | 6 | 9 | — | ||||||||||
Reductions for tax positions of prior years | (129 | ) | (8 | ) | (4 | ) | |||||||
Settlements | — | (3 | ) | (1 | ) | ||||||||
Reductions due to lapse of statutes of limitations | (8 | ) | (2 | ) | — | ||||||||
Ending balance | $ | 176 | $ | 185 | $ | 128 | |||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Earnings Per Share [Abstract] | |||||||||||||
Schedule Of Basic Income Available To Series A, B and C Common and Series C Convertible Preferred Stockholders | The table below sets forth the computation for income available to Discovery Communications, Inc. stockholders (in millions). | ||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Numerator: | |||||||||||||
Income from continuing operations, net of taxes | $ | 1,137 | $ | 1,077 | $ | 956 | |||||||
Less: | |||||||||||||
Allocation of undistributed income from continuing operations to Series A convertible preferred stock | (236 | ) | (212 | ) | (179 | ) | |||||||
Net income attributable to noncontrolling interests | (2 | ) | (1 | ) | (2 | ) | |||||||
Net loss (income) attributable to redeemable noncontrolling interests | 4 | (1 | ) | — | |||||||||
Redeemable noncontrolling interest adjustments to redemption value | (1 | ) | (2 | ) | — | ||||||||
Income from continuing operations available to Discovery Communications, Inc. Series A, B and C common stockholders and Series C convertible preferred stockholders, net of taxes | $ | 902 | $ | 861 | $ | 775 | |||||||
Loss from discontinued operations available to Discovery Communications, Inc. stockholders, net of taxes | $ | — | $ | — | $ | (11 | ) | ||||||
Add: | |||||||||||||
Allocation of undistributed loss from discontinued operations to Series A convertible preferred stock | — | — | 2 | ||||||||||
Loss from discontinued operations available to Discovery Communications, Inc. stockholders, net of taxes | $ | — | $ | — | $ | (9 | ) | ||||||
Net income available to Discovery Communications, Inc. stockholders, net of taxes | $ | 902 | $ | 861 | $ | 766 | |||||||
Schedule Of Allocations Of Basic Income To Series A, B and C Common and Series C Convertible Preferred Stockholders | The table below sets forth the income allocations used in calculating basic income available to Series A, B and C common stockholders and Series C convertible preferred stockholders (in millions). | ||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Allocation of income from continuing operations available to Discovery Communications, Inc. stockholders, net of taxes: | |||||||||||||
Series A, B and C common stockholders | $ | 758 | $ | 727 | $ | 631 | |||||||
Series C convertible preferred stockholders | 144 | 134 | 144 | ||||||||||
Total | $ | 902 | $ | 861 | $ | 775 | |||||||
Allocation of loss from discontinued operations available to Discovery Communication, Inc. stockholders, net of taxes: | |||||||||||||
Series A, B and C common stockholders | $ | — | $ | — | $ | (7 | ) | ||||||
Series C convertible preferred stockholders | — | — | (2 | ) | |||||||||
Total | $ | — | $ | — | $ | (9 | ) | ||||||
Allocation of net income available to Discovery Communications Inc. stockholders, net of taxes: | |||||||||||||
Series A, B and C common stockholders | $ | 758 | $ | 727 | $ | 624 | |||||||
Series C convertible preferred stockholders | 144 | 134 | 142 | ||||||||||
Total | $ | 902 | $ | 861 | $ | 766 | |||||||
Schedule Of Diluted Income Available To Series A, B and C Common Stockholders | The table below sets forth the income allocations used in calculating diluted income available to Series A, B and C common stockholders (in millions). | ||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Numerator: | |||||||||||||
Income from continuing operations, net of taxes | $ | 1,137 | $ | 1,077 | $ | 956 | |||||||
Less: | |||||||||||||
Net income attributable to noncontrolling interests | (2 | ) | (1 | ) | (2 | ) | |||||||
Net loss (income) attributable to redeemable noncontrolling interests | 4 | (1 | ) | — | |||||||||
Redeemable noncontrolling interest adjustments to redemption value | (1 | ) | (2 | ) | — | ||||||||
Income from continuing operations available to Discovery Communications, Inc. stockholders, net of taxes | $ | 1,138 | $ | 1,073 | $ | 954 | |||||||
Loss from discontinued operations available to Discovery Communications, Inc. stockholders, net of taxes | — | — | (11 | ) | |||||||||
Net income available to Discovery Communications, Inc. stockholders, net of taxes | $ | 1,138 | $ | 1,073 | $ | 943 | |||||||
Schedule Of Diluted Income Available To Series C Convertible Preferred Stockholders | The table below sets forth the income allocations used in calculating diluted income available to Series C convertible preferred stockholders (in millions). Net income available to Discovery Communications, Inc. Series C convertible preferred stockholders for diluted net income per share is included in net income available to Discovery Communications, Inc. Series A, B and C common stockholders for diluted net income per share. | ||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Numerator: | |||||||||||||
Income from continuing operations, net of taxes | $ | 143 | $ | 133 | $ | 143 | |||||||
Loss from discontinued operations, net of taxes | — | — | (2 | ) | |||||||||
Net income | $ | 143 | $ | 133 | $ | 141 | |||||||
Schedule Of Weighted Average Basic And Diluted Shares Outstanding | The table below sets forth the weighted-average number of shares outstanding utilized in determining the denominator for basic and diluted earnings per share (in millions). | ||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Denominator: | |||||||||||||
Weighted-average Series A, B and C common shares outstanding — basic | 454 | 484 | 498 | ||||||||||
Weighted-average impact of assumed preferred stock conversion | 227 | 231 | 254 | ||||||||||
Weighted-average dilutive effect of equity awards | 6 | 7 | 7 | ||||||||||
Weighted-average Series A, B and C common shares outstanding — diluted | 687 | 722 | 759 | ||||||||||
Weighted-average Series C convertible preferred stock outstanding — basic and diluted | 43 | 45 | 57 | ||||||||||
Schedule Of Basic and Diluted Earnings Per Share | The table below sets forth the Company's calculated earnings per share. | ||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Basic net income per share available to Discovery Communications, Inc. Series A, B and C common and Series C convertible preferred stockholders: | |||||||||||||
Continuing Operations: | |||||||||||||
Series A, B and C common stockholders | $ | 1.67 | $ | 1.5 | $ | 1.27 | |||||||
Series C convertible preferred stockholders | $ | 3.34 | $ | 3 | $ | 2.54 | |||||||
Discontinued Operations: | |||||||||||||
Series A, B and C common stockholders | $ | — | $ | — | $ | (0.01 | ) | ||||||
Series C convertible preferred stockholders | $ | — | $ | — | $ | (0.02 | ) | ||||||
Net Income: | |||||||||||||
Series A, B and C common stockholders | $ | 1.67 | $ | 1.5 | $ | 1.25 | |||||||
Series C convertible preferred stockholders | $ | 3.34 | $ | 3 | $ | 2.5 | |||||||
Diluted earnings per share available to Discovery Communications, Inc. Series A, B and C common and Series C convertible preferred stockholders: | |||||||||||||
Continuing Operations: | |||||||||||||
Series A, B and C common stockholders | $ | 1.66 | $ | 1.49 | $ | 1.26 | |||||||
Series C convertible preferred stockholders | $ | 3.32 | $ | 2.98 | $ | 2.52 | |||||||
Discontinued Operations: | |||||||||||||
Series A, B and C common stockholders | $ | — | $ | — | $ | (0.01 | ) | ||||||
Series C convertible preferred stockholders | $ | — | $ | — | $ | (0.02 | ) | ||||||
Net Income: | |||||||||||||
Series A, B and C common stockholders | $ | 1.66 | $ | 1.49 | $ | 1.24 | |||||||
Series C convertible preferred stockholders | $ | 3.32 | $ | 2.98 | $ | 2.48 | |||||||
Income per share amounts may not sum since each is calculated independently. | |||||||||||||
Series C convertible preferred earnings per share amounts may not recalculate due to rounding. | |||||||||||||
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The table below presents the details of the equity-based awards and preferred shares that were excluded from the calculation of diluted earnings per share (in millions). | ||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Anti-dilutive stock options and RSUs | 4 | 2 | — | ||||||||||
PRSUs whose performance targets are not achieved | 3 | 2 | 4 | ||||||||||
Supplemental_Disclosures_Table
Supplemental Disclosures (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Disclosure Text Block Supplement [Abstract] | |||||||||||||||||||||
Valuation And Qualifying Accounts | Changes in valuation and qualifying accounts consisted of the following (in millions). | ||||||||||||||||||||
Beginning | Additions | Write-offs | Utilization | End | |||||||||||||||||
of Year | of Year | ||||||||||||||||||||
2014 | |||||||||||||||||||||
Allowance for doubtful accounts | $ | 16 | $ | 28 | $ | (5 | ) | $ | — | $ | 39 | ||||||||||
Deferred tax valuation allowance | 18 | 1 | (5 | ) | (1 | ) | 13 | ||||||||||||||
2013 | |||||||||||||||||||||
Allowance for doubtful accounts | 12 | 6 | (2 | ) | — | 16 | |||||||||||||||
Deferred tax valuation allowance | 23 | 7 | (11 | ) | (1 | ) | 18 | ||||||||||||||
2012 | |||||||||||||||||||||
Allowance for doubtful accounts | 12 | 4 | (4 | ) | — | 12 | |||||||||||||||
Deferred tax valuation allowance | 24 | 8 | (9 | ) | — | 23 | |||||||||||||||
Schedule Of Accrued Liabilities | Accrued liabilities consisted of the following (in millions). | ||||||||||||||||||||
December 31, | |||||||||||||||||||||
2014 | 2013 | ||||||||||||||||||||
Accrued payroll and related benefits | $ | 441 | $ | 373 | |||||||||||||||||
Content rights payable | 198 | 212 | |||||||||||||||||||
Current portion of equity-based compensation liabilities | 32 | 85 | |||||||||||||||||||
Accrued interest | 50 | 43 | |||||||||||||||||||
Accrued income taxes | 120 | 71 | |||||||||||||||||||
Other accrued liabilities | 253 | 208 | |||||||||||||||||||
Total accrued liabilities | $ | 1,094 | $ | 992 | |||||||||||||||||
Schedule Of Other Income (Expense), Net | Other (expense) income, net consisted of the following (in millions). | ||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||
Foreign currency (losses) gains, net | $ | (22 | ) | $ | 23 | $ | (4 | ) | |||||||||||||
Gain (loss) on derivative instruments | 1 | (56 | ) | (2 | ) | ||||||||||||||||
Remeasurement gain on previously held equity interest | 29 | 92 | — | ||||||||||||||||||
Other expense, net | (17 | ) | (10 | ) | (1 | ) | |||||||||||||||
Total other (expense) income, net | $ | (9 | ) | $ | 49 | $ | (7 | ) | |||||||||||||
Cash proceeds from equity-based plans, net | Cash proceeds from equity-based plans, net consisted of the following (in millions). | ||||||||||||||||||||
Year Ended December 31, | |||||||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||||||
Tax settlements associated with equity-based plans | $ | (27 | ) | $ | (22 | ) | $ | (3 | ) | ||||||||||||
Proceeds from issuance of common stock in connection with equity based plans | 41 | 51 | 84 | ||||||||||||||||||
Excess tax benefits from equity-based compensation | 30 | 44 | 38 | ||||||||||||||||||
Total cash proceeds from equity-based plans, net | $ | 44 | $ | 73 | $ | 119 | |||||||||||||||
Related_Party_Transactions_Tab
Related Party Transactions (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Related Party Transactions [Abstract] | |||||||||||||
Schedule Of Related Party Transactions, Revenues Text Block | The table below presents a summary of the transactions with related parties (in millions). | ||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Revenues and service charges: | |||||||||||||
Liberty Group(a) | $ | 157 | $ | 120 | $ | 54 | |||||||
Equity method investees | 104 | 75 | 94 | ||||||||||
Other | 34 | 28 | 7 | ||||||||||
Total revenues and service charges | $ | 295 | $ | 223 | $ | 155 | |||||||
Interest income(b) | $ | 33 | $ | 35 | $ | 29 | |||||||
Expenses | $ | (37 | ) | $ | (27 | ) | $ | (22 | ) | ||||
| |||||||||||||
(a) The 2013 increase in revenue from transactions with the Liberty Group is primarily attributable to activity with Charter Communications, Inc. ("Charter") and Virgin Media, Inc. ("Virgin Media"). In May 2013, Liberty Media completed its equity method investment in Charter; Mr. Malone is on Charter's board of directors. In June 2013, Liberty Global announced it had completed its acquisition of Virgin Media. Transactions with Charter and Virgin Media have been reported as related party transactions since the date that they became related parties. | |||||||||||||
(b) The Company records interest earnings from loans to equity method investees as a component of income (loss) from equity method investees, net, in the consolidated statements of operations. (See Note 4.) | |||||||||||||
Schedule Of Related Party Transactions Receivables, Text Block | The table below presents receivables due from related parties (in millions). | ||||||||||||
December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
Receivables | $ | 42 | $ | 41 | |||||||||
Note receivable (See Note 4.) | $ | 457 | $ | 483 | |||||||||
Commitments_And_Contingencies_
Commitments And Contingencies (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||
Schedule Of Significant Contractual Commitments | As of December 31, 2014, the Company’s significant contractual commitments, including related payments due by period, were as follows (in millions). | ||||||||||||||||||||
Leases | |||||||||||||||||||||
Year Ending December 31, | Operating | Capital | Content | Other | Total | ||||||||||||||||
2015 | $ | 77 | $ | 44 | $ | 735 | $ | 314 | $ | 1,170 | |||||||||||
2016 | 71 | 35 | 318 | 219 | 643 | ||||||||||||||||
2017 | 61 | 31 | 197 | 200 | 489 | ||||||||||||||||
2018 | 55 | 19 | 105 | 159 | 338 | ||||||||||||||||
2019 | 40 | 18 | 75 | 100 | 233 | ||||||||||||||||
Thereafter | 99 | 104 | 100 | 232 | 535 | ||||||||||||||||
Total minimum payments | 403 | 251 | 1,530 | 1,224 | 3,408 | ||||||||||||||||
Amounts representing interest | — | (64 | ) | — | — | (64 | ) | ||||||||||||||
Total | $ | 403 | $ | 187 | $ | 1,530 | $ | 1,224 | $ | 3,344 | |||||||||||
Reportable_Segments_Tables
Reportable Segments (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2014 | |||||||||||||
Segment Reporting [Abstract] | |||||||||||||
Schedule Of Revenues By Segment | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
U.S. Networks | $ | 2,950 | $ | 2,947 | $ | 2,746 | |||||||
International Networks | 3,157 | 2,459 | 1,618 | ||||||||||
Education and Other | 160 | 140 | 128 | ||||||||||
Corporate and inter-segment eliminations | (2 | ) | (11 | ) | (5 | ) | |||||||
Total revenues | $ | 6,265 | $ | 5,535 | $ | 4,487 | |||||||
Schedule Of Adjusted OIBDA By Segment | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
U.S. Networks | $ | 1,680 | $ | 1,712 | $ | 1,628 | |||||||
International Networks | 1,124 | 949 | 727 | ||||||||||
Education and Other | 6 | 30 | 19 | ||||||||||
Corporate and inter-segment eliminations | (319 | ) | (289 | ) | (275 | ) | |||||||
Total Adjusted OIBDA | $ | 2,491 | $ | 2,402 | $ | 2,099 | |||||||
Schedule Of Reconciliation Of Adjusted OIBDA To Operating Income | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
Total Adjusted OIBDA | $ | 2,491 | $ | 2,402 | $ | 2,099 | |||||||
Amortization of deferred launch incentives | (11 | ) | (18 | ) | (20 | ) | |||||||
Mark-to-market equity-based compensation | (31 | ) | (136 | ) | (97 | ) | |||||||
Depreciation and amortization | (329 | ) | (276 | ) | (117 | ) | |||||||
Restructuring and other charges | (90 | ) | (16 | ) | (6 | ) | |||||||
Gain on disposition | 31 | 19 | — | ||||||||||
Operating income | 2,061 | 1,975 | 1,859 | ||||||||||
Interest expense | (328 | ) | (306 | ) | (248 | ) | |||||||
Income (loss) from equity investees, net | 23 | 18 | (86 | ) | |||||||||
Other (expense) income, net | (9 | ) | 49 | (7 | ) | ||||||||
Income from continuing operations before income taxes | $ | 1,747 | $ | 1,736 | $ | 1,518 | |||||||
Schedule Of Total Assets By Segment | |||||||||||||
December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
U.S. Networks | $ | 3,315 | $ | 2,976 | |||||||||
International Networks | 5,577 | 4,776 | |||||||||||
Education and Other | 186 | 143 | |||||||||||
Corporate and inter-segment eliminations | 6,936 | 7,084 | |||||||||||
Total assets | $ | 16,014 | $ | 14,979 | |||||||||
Schedule Of Content Amortization And Impairment Expense By Segment | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
U.S. Networks | $ | 732 | $ | 626 | $ | 558 | |||||||
International Networks | 826 | 564 | 302 | ||||||||||
Education and Other | 4 | 3 | 2 | ||||||||||
Corporate and inter-segment eliminations | (5 | ) | (3 | ) | 3 | ||||||||
Total content amortization and impairment expense | $ | 1,557 | $ | 1,190 | $ | 865 | |||||||
Schedule Of Revenues By Country | |||||||||||||
Year Ended December 31, | |||||||||||||
2014 | 2013 | 2012 | |||||||||||
U.S. | $ | 3,081 | $ | 3,071 | $ | 2,871 | |||||||
Non-U.S. | 3,184 | 2,464 | 1,616 | ||||||||||
Total revenues | $ | 6,265 | $ | 5,535 | $ | 4,487 | |||||||
Schedule Of Property And Equipment By Country | |||||||||||||
December 31, | |||||||||||||
2014 | 2013 | ||||||||||||
U.S. | $ | 261 | $ | 261 | |||||||||
U.K. | 152 | 115 | |||||||||||
Other non-U.S. | 141 | 138 | |||||||||||
Total property and equipment, net | $ | 554 | $ | 514 | |||||||||
Selected_Quarterly_Financial_D1
Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Selected Quarterly Financial Information [Abstract] | |||||||||||||||||
Selected Quarterly Financial Data (Unaudited) | SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) | ||||||||||||||||
2014(a)(c) | |||||||||||||||||
1st quarter | 2nd quarter | 3rd quarter | 4th quarter | ||||||||||||||
Revenues | $ | 1,411 | $ | 1,610 | $ | 1,568 | $ | 1,676 | |||||||||
Operating income | 434 | 640 | 511 | 476 | |||||||||||||
Net income | 231 | 384 | 287 | 235 | |||||||||||||
Net income available to Discovery Communications, Inc. | 230 | 379 | 280 | 250 | |||||||||||||
Earnings per share available to Discovery Communications, Inc. Series A, B and C common stockholders | |||||||||||||||||
Basic | $ | 0.33 | $ | 0.55 | $ | 0.41 | $ | 0.38 | |||||||||
Diluted | $ | 0.33 | $ | 0.54 | $ | 0.41 | $ | 0.38 | |||||||||
2013(b)(c) | |||||||||||||||||
1st quarter | 2nd quarter | 3rd quarter | 4th quarter | ||||||||||||||
Revenues | $ | 1,156 | $ | 1,467 | $ | 1,375 | $ | 1,537 | |||||||||
Operating income | 416 | 549 | 488 | 522 | |||||||||||||
Net income | 231 | 300 | 256 | 290 | |||||||||||||
Net income available to Discovery Communications, Inc. | 231 | 300 | 255 | 289 | |||||||||||||
Earnings per share available to Discovery Communications, Inc. Series A, B and C common stockholders | |||||||||||||||||
Basic | $ | 0.32 | $ | 0.41 | $ | 0.36 | $ | 0.41 | |||||||||
Diluted | $ | 0.32 | $ | 0.41 | $ | 0.35 | $ | 0.41 | |||||||||
(a) On September 23, 2014, the Company acquired an additional 10% ownership interest in Discovery Family and, as a result, the accounting for Discovery Family was changed from an equity method investment to a consolidated subsidiary. On May 30, 2014, the Company acquired a controlling interest in Eurosport and, as a result, the accounting for Eurosport was changed from an equity method investment to a consolidated subsidiary. (See Note 3.) | |||||||||||||||||
(b)On April 9, 2013, the Company acquired SBS Nordic. The Company included the operations of this acquisition in the Company's consolidated financial statements as of the acquisition date. (See Note 3.) | |||||||||||||||||
(c) Per share data for earnings per share has been retroactively adjusted to give effect to the 2-for-1 split of the Company’s common stock on August 6, 2014. (See Note 18.) |
Condensed_Consolidating_Financ1
Condensed Consolidating Financial Statements (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||||||||||||||
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |||||||||||||||||||||||||||||
Condensed Consolidating Balance Sheet | CONDENSED CONSOLIDATING BALANCE SHEET | ||||||||||||||||||||||||||||
December 31, 2014 | |||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Discovery | DCH | DCL | Non-Guarantor | Other Non- | Reclassifications | Discovery and | |||||||||||||||||||||||
Subsidiaries of | Guarantor | and | Subsidiaries | ||||||||||||||||||||||||||
DCL | Subsidiaries of Discovery | Eliminations | |||||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | — | $ | 8 | $ | 359 | $ | — | $ | — | $ | 367 | |||||||||||||||
Receivables, net | — | — | 416 | 1,017 | — | — | 1,433 | ||||||||||||||||||||||
Content rights, net | — | — | 8 | 321 | — | — | 329 | ||||||||||||||||||||||
Deferred income taxes | — | — | 40 | 47 | — | — | 87 | ||||||||||||||||||||||
Prepaid expenses and other current assets | — | 11 | 164 | 100 | — | — | 275 | ||||||||||||||||||||||
Inter-company trade receivables, net | — | — | 151 | — | — | (151 | ) | — | |||||||||||||||||||||
Total current assets | — | 11 | 787 | 1,844 | — | (151 | ) | 2,491 | |||||||||||||||||||||
Investment in and advances to subsidiaries | 5,678 | 5,669 | 7,750 | — | 3,800 | (22,897 | ) | — | |||||||||||||||||||||
Noncurrent content rights, net | — | — | 613 | 1,360 | — | — | 1,973 | ||||||||||||||||||||||
Goodwill | — | — | 3,769 | 4,467 | — | — | 8,236 | ||||||||||||||||||||||
Intangible assets, net | — | — | 307 | 1,664 | — | — | 1,971 | ||||||||||||||||||||||
Equity method investments | — | — | 21 | 623 | — | — | 644 | ||||||||||||||||||||||
Other noncurrent assets | — | 20 | 150 | 549 | — | (20 | ) | 699 | |||||||||||||||||||||
Total assets | $ | 5,678 | $ | 5,700 | $ | 13,397 | $ | 10,507 | $ | 3,800 | $ | (23,068 | ) | $ | 16,014 | ||||||||||||||
LIABILITIES AND EQUITY | |||||||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||||||
Current portion of debt | $ | — | $ | — | $ | 1,084 | $ | 23 | $ | — | $ | — | $ | 1,107 | |||||||||||||||
Other current liabilities | 73 | — | 433 | 991 | — | — | 1,497 | ||||||||||||||||||||||
Inter-company trade payables, net | — | — | — | 151 | — | (151 | ) | — | |||||||||||||||||||||
Total current liabilities | 73 | — | 1,517 | 1,165 | — | (151 | ) | 2,604 | |||||||||||||||||||||
Noncurrent portion of debt | — | — | 5,868 | 178 | — | — | 6,046 | ||||||||||||||||||||||
Other noncurrent liabilities | 3 | — | 343 | 665 | 22 | (20 | ) | 1,013 | |||||||||||||||||||||
Total liabilities | 76 | — | 7,728 | 2,008 | 22 | (171 | ) | 9,663 | |||||||||||||||||||||
Redeemable noncontrolling interests | — | — | — | 747 | — | — | 747 | ||||||||||||||||||||||
Equity attributable to Discovery Communications, Inc. | 5,602 | 5,700 | 5,669 | 7,752 | 3,778 | (22,899 | ) | 5,602 | |||||||||||||||||||||
Noncontrolling interests | — | — | — | — | — | 2 | 2 | ||||||||||||||||||||||
Total equity | 5,602 | 5,700 | 5,669 | 7,752 | 3,778 | (22,897 | ) | 5,604 | |||||||||||||||||||||
Total liabilities and equity | $ | 5,678 | $ | 5,700 | $ | 13,397 | $ | 10,507 | $ | 3,800 | $ | (23,068 | ) | $ | 16,014 | ||||||||||||||
CONDENSED CONSOLIDATING BALANCE SHEET | |||||||||||||||||||||||||||||
December 31, 2013 | |||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Discovery | DCH | DCL | Non-Guarantor | Other Non- | Reclassifications | Discovery and | |||||||||||||||||||||||
Subsidiaries of | Guarantor | and | Subsidiaries | ||||||||||||||||||||||||||
DCL | Subsidiaries of Discovery | Eliminations | |||||||||||||||||||||||||||
ASSETS | |||||||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | — | $ | 123 | $ | 285 | $ | — | $ | — | $ | 408 | |||||||||||||||
Receivables, net | — | — | 449 | 922 | — | — | 1,371 | ||||||||||||||||||||||
Content rights, net | — | — | 12 | 265 | — | — | 277 | ||||||||||||||||||||||
Deferred income taxes | — | — | 31 | 42 | — | — | 73 | ||||||||||||||||||||||
Prepaid expenses and other current assets | 52 | — | 143 | 86 | — | — | 281 | ||||||||||||||||||||||
Inter-company trade receivables, net | — | — | 286 | — | — | (286 | ) | — | |||||||||||||||||||||
Total current assets | 52 | — | 1,044 | 1,600 | — | (286 | ) | 2,410 | |||||||||||||||||||||
Investment in and advances to subsidiaries | 6,147 | 6,155 | 7,135 | — | 4,112 | (23,549 | ) | — | |||||||||||||||||||||
Noncurrent content rights, net | — | — | 615 | 1,268 | — | — | 1,883 | ||||||||||||||||||||||
Goodwill | — | — | 3,769 | 3,572 | — | — | 7,341 | ||||||||||||||||||||||
Intangible assets, net | — | — | 320 | 1,245 | — | — | 1,565 | ||||||||||||||||||||||
Equity method investments | — | — | 330 | 757 | — | — | 1,087 | ||||||||||||||||||||||
Other noncurrent assets | — | 19 | 173 | 521 | — | (20 | ) | 693 | |||||||||||||||||||||
Total assets | $ | 6,199 | $ | 6,174 | $ | 13,386 | $ | 8,963 | $ | 4,112 | $ | (23,855 | ) | $ | 14,979 | ||||||||||||||
LIABILITIES AND EQUITY | |||||||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||||||
Current portion of debt | $ | — | $ | — | $ | 5 | $ | 12 | $ | — | $ | — | $ | 17 | |||||||||||||||
Other current liabilities | 1 | 6 | 421 | 849 | — | — | 1,277 | ||||||||||||||||||||||
Inter-company trade payables, net | — | — | — | 286 | — | (286 | ) | — | |||||||||||||||||||||
Total current liabilities | 1 | 6 | 426 | 1,147 | — | (286 | ) | 1,294 | |||||||||||||||||||||
Noncurrent portion of debt | — | — | 6,343 | 139 | — | — | 6,482 | ||||||||||||||||||||||
Other noncurrent liabilities | 2 | — | 462 | 505 | 21 | (20 | ) | 970 | |||||||||||||||||||||
Total liabilities | 3 | 6 | 7,231 | 1,791 | 21 | (306 | ) | 8,746 | |||||||||||||||||||||
Redeemable noncontrolling interests | — | — | — | 36 | — | — | 36 | ||||||||||||||||||||||
Equity attributable to Discovery Communications, Inc. | 6,196 | 6,168 | 6,155 | 7,135 | 4,091 | (23,549 | ) | 6,196 | |||||||||||||||||||||
Noncontrolling interests | — | — | — | 1 | — | — | 1 | ||||||||||||||||||||||
Total equity | 6,196 | 6,168 | 6,155 | 7,136 | 4,091 | (23,549 | ) | 6,197 | |||||||||||||||||||||
Total liabilities and equity | $ | 6,199 | $ | 6,174 | $ | 13,386 | $ | 8,963 | $ | 4,112 | $ | (23,855 | ) | $ | 14,979 | ||||||||||||||
Condensed Consolidating Statement Of Operations | CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS | ||||||||||||||||||||||||||||
For the Year Ended December 31, 2014 | |||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Discovery | DCH | DCL | Non-Guarantor | Other Non- | Reclassifications | Discovery and | |||||||||||||||||||||||
Subsidiaries of | Guarantor | and | Subsidiaries | ||||||||||||||||||||||||||
DCL | Subsidiaries of Discovery | Eliminations | |||||||||||||||||||||||||||
Revenues | $ | — | $ | — | $ | 1,871 | $ | 4,396 | $ | — | $ | (2 | ) | $ | 6,265 | ||||||||||||||
Costs of revenues, excluding depreciation and amortization | — | — | 454 | 1,671 | — | (1 | ) | 2,124 | |||||||||||||||||||||
Selling, general and administrative | 15 | — | 223 | 1,455 | — | (1 | ) | 1,692 | |||||||||||||||||||||
Depreciation and amortization | — | — | 34 | 295 | — | — | 329 | ||||||||||||||||||||||
Restructuring and other charges | — | — | 17 | 73 | — | — | 90 | ||||||||||||||||||||||
Gain on disposition | — | — | — | (31 | ) | — | — | (31 | ) | ||||||||||||||||||||
Total costs and expenses | 15 | — | 728 | 3,463 | — | (2 | ) | 4,204 | |||||||||||||||||||||
Operating (loss) income | (15 | ) | — | 1,143 | 933 | — | — | 2,061 | |||||||||||||||||||||
Equity in earnings of subsidiaries | 1,148 | 1,148 | 561 | — | 765 | (3,622 | ) | — | |||||||||||||||||||||
Interest expense | — | — | (319 | ) | (9 | ) | — | — | (328 | ) | |||||||||||||||||||
Income from equity investees, net | — | — | 10 | 13 | — | — | 23 | ||||||||||||||||||||||
Other income (expense), net | — | — | 36 | (45 | ) | — | — | (9 | ) | ||||||||||||||||||||
Income from continuing operations before income taxes | 1,133 | 1,148 | 1,431 | 892 | 765 | (3,622 | ) | 1,747 | |||||||||||||||||||||
Benefit from (provision for) income taxes | 6 | — | (283 | ) | (333 | ) | — | — | (610 | ) | |||||||||||||||||||
Net income | 1,139 | 1,148 | 1,148 | 559 | 765 | (3,622 | ) | 1,137 | |||||||||||||||||||||
Net income attributable to noncontrolling interests | — | — | — | — | — | (2 | ) | (2 | ) | ||||||||||||||||||||
Net income attributable to redeemable noncontrolling interests | — | — | — | — | — | 4 | 4 | ||||||||||||||||||||||
Net income available to Discovery Communications, Inc. | $ | 1,139 | $ | 1,148 | $ | 1,148 | $ | 559 | $ | 765 | $ | (3,620 | ) | $ | 1,139 | ||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS | |||||||||||||||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Discovery | DCH | DCL | Non-Guarantor | Other Non- | Reclassifications | Discovery and | |||||||||||||||||||||||
Subsidiaries of | Guarantor | and | Subsidiaries | ||||||||||||||||||||||||||
DCL | Subsidiaries of Discovery | Eliminations | |||||||||||||||||||||||||||
Revenues | $ | — | $ | — | $ | 1,867 | $ | 3,678 | $ | — | $ | (10 | ) | $ | 5,535 | ||||||||||||||
Costs of revenues, excluding depreciation and amortization | — | — | 445 | 1,252 | — | (8 | ) | 1,689 | |||||||||||||||||||||
Selling, general and administrative | 15 | — | 270 | 1,315 | — | (2 | ) | 1,598 | |||||||||||||||||||||
Depreciation and amortization | — | — | 36 | 240 | — | — | 276 | ||||||||||||||||||||||
Restructuring and other charges | — | — | 1 | 15 | — | — | 16 | ||||||||||||||||||||||
Gain on disposition | — | — | — | (19 | ) | — | — | (19 | ) | ||||||||||||||||||||
Total costs and expenses | 15 | — | 752 | 2,803 | — | (10 | ) | 3,560 | |||||||||||||||||||||
Operating (loss) income | (15 | ) | — | 1,115 | 875 | — | — | 1,975 | |||||||||||||||||||||
Equity in earnings of subsidiaries | 1,084 | 1,084 | 620 | — | 723 | (3,511 | ) | — | |||||||||||||||||||||
Interest expense | — | — | (299 | ) | (7 | ) | — | — | (306 | ) | |||||||||||||||||||
Income (losses) from equity method investees, net | — | — | 4 | 14 | — | — | 18 | ||||||||||||||||||||||
Other (expense) income, net | — | — | (50 | ) | 99 | — | — | 49 | |||||||||||||||||||||
Income from continuing operations before income taxes | 1,069 | 1,084 | 1,390 | 981 | 723 | (3,511 | ) | 1,736 | |||||||||||||||||||||
Benefit from (provision for) income taxes | 6 | — | (306 | ) | (359 | ) | — | — | (659 | ) | |||||||||||||||||||
Net income | 1,075 | 1,084 | 1,084 | 622 | 723 | (3,511 | ) | 1,077 | |||||||||||||||||||||
Net income attributable to noncontrolling interests | — | — | — | — | — | (1 | ) | (1 | ) | ||||||||||||||||||||
Net income attributable to redeemable noncontrolling interests | — | — | — | — | — | (1 | ) | (1 | ) | ||||||||||||||||||||
Net income available to Discovery Communications, Inc. | $ | 1,075 | $ | 1,084 | $ | 1,084 | $ | 622 | $ | 723 | $ | (3,513 | ) | $ | 1,075 | ||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS | |||||||||||||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Discovery | DCH | DCL | Non-Guarantor | Other Non- | Reclassifications | Discovery and | |||||||||||||||||||||||
Subsidiaries of | Guarantor | and | Subsidiaries | ||||||||||||||||||||||||||
DCL | Subsidiaries of Discovery | Eliminations | |||||||||||||||||||||||||||
Revenues | $ | — | $ | — | $ | 1,796 | $ | 2,704 | $ | — | $ | (13 | ) | $ | 4,487 | ||||||||||||||
Costs of revenues, excluding depreciation and amortization | — | — | 399 | 830 | — | (11 | ) | 1,218 | |||||||||||||||||||||
Selling, general and administrative | 13 | — | 279 | 997 | — | (2 | ) | 1,287 | |||||||||||||||||||||
Depreciation and amortization | — | — | 36 | 81 | — | — | 117 | ||||||||||||||||||||||
Restructuring and other charges | — | — | 2 | 4 | — | — | 6 | ||||||||||||||||||||||
Total costs and expenses | 13 | — | 716 | 1,912 | — | (13 | ) | 2,628 | |||||||||||||||||||||
Operating (loss) income | (13 | ) | — | 1,080 | 792 | — | — | 1,859 | |||||||||||||||||||||
Equity in earnings of subsidiaries | 939 | 965 | 444 | — | 645 | (2,993 | ) | — | |||||||||||||||||||||
Interest expense | — | — | (242 | ) | (6 | ) | — | — | (248 | ) | |||||||||||||||||||
Income (loss) from equity investees, net | — | — | 3 | (89 | ) | — | — | (86 | ) | ||||||||||||||||||||
Other income (expense), net | 13 | 2 | (1 | ) | (4 | ) | — | (17 | ) | (7 | ) | ||||||||||||||||||
Income from continuing operations before income taxes | 939 | 967 | 1,284 | 693 | 645 | (3,010 | ) | 1,518 | |||||||||||||||||||||
Benefit from (provision for) income taxes | 4 | — | (319 | ) | (247 | ) | — | — | (562 | ) | |||||||||||||||||||
Income from continuing operations, net of taxes | 943 | 967 | 965 | 446 | 645 | (3,010 | ) | 956 | |||||||||||||||||||||
Loss from discontinued operations, net of taxes | — | — | — | — | (28 | ) | 17 | (11 | ) | ||||||||||||||||||||
Net income | 943 | 967 | 965 | 446 | 617 | (2,993 | ) | 945 | |||||||||||||||||||||
Net income attributable to noncontrolling interests | — | — | — | — | — | (2 | ) | (2 | ) | ||||||||||||||||||||
Net income available to Discovery Communications, Inc. | $ | 943 | $ | 967 | $ | 965 | $ | 446 | $ | 617 | $ | (2,995 | ) | $ | 943 | ||||||||||||||
Condensed Consolidating Statement Of Comprehensive Income | CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME | ||||||||||||||||||||||||||||
For the Year Ended to December 31, 2014 | |||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Discovery | DCH | DCL | Non-Guarantor | Other Non- | Reclassifications | Discovery and | |||||||||||||||||||||||
Subsidiaries of | Guarantor | and | Subsidiaries | ||||||||||||||||||||||||||
DCL | Subsidiaries of Discovery | Eliminations | |||||||||||||||||||||||||||
Net income | $ | 1,139 | $ | 1,148 | $ | 1,148 | $ | 559 | $ | 765 | $ | (3,622 | ) | $ | 1,137 | ||||||||||||||
Other comprehensive (loss) income, net of tax: | |||||||||||||||||||||||||||||
Currency translation adjustments | (399 | ) | (399 | ) | (399 | ) | (397 | ) | (266 | ) | 1,461 | (399 | ) | ||||||||||||||||
Derivative and market value adjustments | (13 | ) | (13 | ) | (13 | ) | 8 | (9 | ) | 27 | (13 | ) | |||||||||||||||||
Comprehensive income | 727 | 736 | 736 | 170 | 490 | (2,134 | ) | 725 | |||||||||||||||||||||
Comprehensive income attributable to noncontrolling interests | — | — | — | — | — | (2 | ) | (2 | ) | ||||||||||||||||||||
Comprehensive loss attributable to redeemable noncontrolling interests | 40 | 40 | 40 | 40 | 27 | (143 | ) | 44 | |||||||||||||||||||||
Comprehensive income attributable to Discovery Communications, Inc. | $ | 767 | $ | 776 | $ | 776 | $ | 210 | $ | 517 | $ | (2,279 | ) | $ | 767 | ||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME | |||||||||||||||||||||||||||||
For the Year Ended to December 31, 2013 | |||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Discovery | DCH | DCL | Non-Guarantor | Other Non- | Reclassifications | Discovery and | |||||||||||||||||||||||
Subsidiaries of | Guarantor | and | Subsidiaries | ||||||||||||||||||||||||||
DCL | Subsidiaries of Discovery | Eliminations | |||||||||||||||||||||||||||
Net income | $ | 1,075 | $ | 1,084 | $ | 1,084 | $ | 622 | $ | 723 | $ | (3,511 | ) | $ | 1,077 | ||||||||||||||
Other comprehensive (loss) income, net of tax: | |||||||||||||||||||||||||||||
Currency translation adjustments | (11 | ) | (11 | ) | (11 | ) | (10 | ) | (7 | ) | 39 | (11 | ) | ||||||||||||||||
Derivative and market value adjustments | 8 | 8 | 8 | 11 | 5 | (32 | ) | 8 | |||||||||||||||||||||
Comprehensive income | 1,072 | 1,081 | 1,081 | 623 | 721 | (3,504 | ) | 1,074 | |||||||||||||||||||||
Comprehensive income attributable to noncontrolling interests | — | — | — | — | — | (1 | ) | (1 | ) | ||||||||||||||||||||
Comprehensive loss attributable to redeemable noncontrolling interests | 3 | 3 | 3 | 3 | 2 | (12 | ) | 2 | |||||||||||||||||||||
Comprehensive income attributable to Discovery Communications, Inc. | $ | 1,075 | $ | 1,084 | $ | 1,084 | $ | 626 | $ | 723 | $ | (3,517 | ) | $ | 1,075 | ||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME | |||||||||||||||||||||||||||||
For the Year Ended to December 31, 2012 | |||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Discovery | DCH | DCL | Non-Guarantor | Other Non- | Reclassifications | Discovery and | |||||||||||||||||||||||
Subsidiaries of | Guarantor | and | Subsidiaries | ||||||||||||||||||||||||||
DCL | Subsidiaries of Discovery | Eliminations | |||||||||||||||||||||||||||
Net income | $ | 943 | $ | 967 | $ | 965 | $ | 446 | $ | 617 | $ | (2,993 | ) | $ | 945 | ||||||||||||||
Other comprehensive income (loss), net of tax: | |||||||||||||||||||||||||||||
Currency translation adjustments | 28 | 28 | 28 | 26 | 19 | (101 | ) | 28 | |||||||||||||||||||||
Derivative and market value adjustments | (1 | ) | (1 | ) | (1 | ) | (1 | ) | (1 | ) | 4 | (1 | ) | ||||||||||||||||
Comprehensive income | 970 | 994 | 992 | 471 | 635 | (3,090 | ) | 972 | |||||||||||||||||||||
Comprehensive income attributable to noncontrolling interests | — | — | — | — | — | (2 | ) | (2 | ) | ||||||||||||||||||||
Comprehensive income attributable to Discovery Communications, Inc. | $ | 970 | $ | 994 | $ | 992 | $ | 471 | $ | 635 | $ | (3,092 | ) | $ | 970 | ||||||||||||||
Condensed Consolidating Statement Of Cash Flows | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | ||||||||||||||||||||||||||||
For the Year Ended December 31, 2014 | |||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Discovery | DCH | DCL | Non-Guarantor | Other Non- | Reclassifications | Discovery and | |||||||||||||||||||||||
Subsidiaries of | Guarantor | and | Subsidiaries | ||||||||||||||||||||||||||
DCL | Subsidiaries of Discovery | Eliminations | |||||||||||||||||||||||||||
Operating Activities | |||||||||||||||||||||||||||||
Cash provided by (used in) operating activities | $ | 111 | $ | (17 | ) | $ | 269 | $ | 955 | $ | — | $ | — | $ | 1,318 | ||||||||||||||
Investing Activities | |||||||||||||||||||||||||||||
Purchases of property and equipment | — | — | (16 | ) | (104 | ) | — | — | (120 | ) | |||||||||||||||||||
Business acquisitions, net of cash acquired | — | — | (64 | ) | (308 | ) | — | — | (372 | ) | |||||||||||||||||||
Proceeds from disposition | — | — | — | 45 | — | — | 45 | ||||||||||||||||||||||
Distribution from equity method investees | — | — | — | 61 | — | — | 61 | ||||||||||||||||||||||
Investments in equity method investees, net | — | — | (5 | ) | (172 | ) | — | — | (177 | ) | |||||||||||||||||||
Other investing activities, net | — | — | — | (5 | ) | — | — | (5 | ) | ||||||||||||||||||||
Cash used in investing activities | — | — | (85 | ) | (483 | ) | — | — | (568 | ) | |||||||||||||||||||
Financing Activities | |||||||||||||||||||||||||||||
Borrowings from debt, net of discount | — | — | 415 | — | — | — | 415 | ||||||||||||||||||||||
Borrowings under revolving credit facility, net | — | — | 13 | 25 | — | — | 38 | ||||||||||||||||||||||
Commercial paper, net | — | — | 229 | — | — | — | 229 | ||||||||||||||||||||||
Debt Issuance cost | — | — | (6 | ) | — | — | — | (6 | ) | ||||||||||||||||||||
Principal repayments of capital lease obligations | — | — | (4 | ) | (15 | ) | — | — | (19 | ) | |||||||||||||||||||
Repurchases of stock | (1,422 | ) | — | — | — | — | — | (1,422 | ) | ||||||||||||||||||||
Cash proceeds from equity-based plans, net | 44 | — | — | — | — | — | 44 | ||||||||||||||||||||||
Inter-company contributions and other financing activities, net | 1,267 | 17 | (946 | ) | (351 | ) | — | — | (13 | ) | |||||||||||||||||||
Cash (used in) provided by financing activities | (111 | ) | 17 | (299 | ) | (341 | ) | — | — | (734 | ) | ||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | (57 | ) | — | — | (57 | ) | ||||||||||||||||||||
Net change in cash and cash equivalents | — | — | (115 | ) | 74 | — | — | (41 | ) | ||||||||||||||||||||
Cash and cash equivalents, beginning of period | — | — | 123 | 285 | — | — | 408 | ||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | — | $ | — | $ | 8 | $ | 359 | $ | — | $ | — | $ | 367 | |||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Discovery | DCH | DCL | Non-Guarantor | Other Non- | Reclassifications | Discovery and | |||||||||||||||||||||||
Subsidiaries of | Guarantor | and | Subsidiaries | ||||||||||||||||||||||||||
DCL | Subsidiaries of Discovery | Eliminations | |||||||||||||||||||||||||||
Operating Activities | |||||||||||||||||||||||||||||
Cash (used in) provided by operating activities | $ | (16 | ) | $ | (11 | ) | $ | 288 | $ | 1,024 | $ | — | $ | — | $ | 1,285 | |||||||||||||
Investing Activities | |||||||||||||||||||||||||||||
Purchases of property and equipment | — | — | (19 | ) | (96 | ) | — | — | (115 | ) | |||||||||||||||||||
Business acquisitions, net of cash acquired | — | — | — | (1,861 | ) | — | — | (1,861 | ) | ||||||||||||||||||||
Hedging instruments, net | — | — | (55 | ) | — | — | — | (55 | ) | ||||||||||||||||||||
Proceeds from disposition | — | — | — | 28 | — | — | 28 | ||||||||||||||||||||||
Distribution from equity method investees | — | — | — | 47 | — | — | 47 | ||||||||||||||||||||||
Investments in equity method investees, net | — | — | (1 | ) | (27 | ) | — | — | (28 | ) | |||||||||||||||||||
Other investing activities, net | — | — | — | (3 | ) | — | — | (3 | ) | ||||||||||||||||||||
Cash used in investing activities | — | — | (75 | ) | (1,912 | ) | — | — | (1,987 | ) | |||||||||||||||||||
Financing Activities | |||||||||||||||||||||||||||||
Borrowings from debt, net of discount | — | — | 1,198 | — | — | — | 1,198 | ||||||||||||||||||||||
Debt issuance cost | — | — | (12 | ) | — | — | — | (12 | ) | ||||||||||||||||||||
Principal repayments of capital lease obligations | — | — | (7 | ) | (25 | ) | — | — | (32 | ) | |||||||||||||||||||
Repurchases of stock | (1,305 | ) | — | — | — | — | — | (1,305 | ) | ||||||||||||||||||||
Cash proceeds from equity-based plans, net | 73 | — | — | — | — | — | 73 | ||||||||||||||||||||||
Inter-company contributions and other financing activities, net | 1,248 | 11 | (2,291 | ) | 1,025 | — | — | (7 | ) | ||||||||||||||||||||
Cash provided by (used in) financing activities | 16 | 11 | (1,112 | ) | 1,000 | — | — | (85 | ) | ||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | (6 | ) | — | — | (6 | ) | ||||||||||||||||||||
Net change in cash and cash equivalents | — | — | (899 | ) | 106 | — | — | (793 | ) | ||||||||||||||||||||
Cash and cash equivalents, beginning of period | — | — | 1,022 | 179 | — | — | 1,201 | ||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | — | $ | — | $ | 123 | $ | 285 | $ | — | $ | — | $ | 408 | |||||||||||||||
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS | |||||||||||||||||||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||||||||||||||||||
(in millions) | |||||||||||||||||||||||||||||
Discovery | DCH | DCL | Non-Guarantor | Other Non- | Reclassifications | Discovery and | |||||||||||||||||||||||
Subsidiaries of | Guarantor | and | Subsidiaries | ||||||||||||||||||||||||||
DCL | Subsidiaries of Discovery | Eliminations | |||||||||||||||||||||||||||
Operating Activities | |||||||||||||||||||||||||||||
Cash (used in) provided by operating activities | $ | (18 | ) | $ | 12 | $ | 307 | $ | 798 | $ | — | $ | — | $ | 1,099 | ||||||||||||||
Investing Activities | |||||||||||||||||||||||||||||
Purchases of property and equipment | — | — | (18 | ) | (58 | ) | (1 | ) | — | (77 | ) | ||||||||||||||||||
Business acquisitions, net of cash acquired | — | — | — | (149 | ) | — | — | (149 | ) | ||||||||||||||||||||
Distributions from equity method investees | — | — | — | 17 | — | — | 17 | ||||||||||||||||||||||
Investments in equity method investees, net | — | — | — | (404 | ) | — | — | (404 | ) | ||||||||||||||||||||
Other investing activities, net | — | — | (31 | ) | — | 1 | — | (30 | ) | ||||||||||||||||||||
Cash used in investing activities | — | — | (49 | ) | (594 | ) | — | — | (643 | ) | |||||||||||||||||||
Financing Activities | |||||||||||||||||||||||||||||
Borrowings from debt, net of discount | — | — | 992 | — | — | — | 992 | ||||||||||||||||||||||
Debt issuance cost | — | — | (11 | ) | — | — | — | (11 | ) | ||||||||||||||||||||
Principal repayments of capital lease obligations | — | — | (6 | ) | (16 | ) | — | — | (22 | ) | |||||||||||||||||||
Repurchases of stock | (1,380 | ) | — | — | — | — | — | (1,380 | ) | ||||||||||||||||||||
Cash proceeds from equity-based plans, net | 119 | — | — | — | — | — | 119 | ||||||||||||||||||||||
Inter-company contributions and other financing activities, net | 1,279 | (12 | ) | (1,175 | ) | (94 | ) | (1 | ) | — | (3 | ) | |||||||||||||||||
Cash provided (used in) by financing activities | 18 | (12 | ) | (200 | ) | (110 | ) | (1 | ) | — | (305 | ) | |||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | 2 | — | — | 2 | ||||||||||||||||||||||
Net change in cash and cash equivalents | — | — | 58 | 96 | (1 | ) | — | 153 | |||||||||||||||||||||
Cash and cash equivalents, beginning of period | — | — | 964 | 83 | 1 | — | 1,048 | ||||||||||||||||||||||
Cash and cash equivalents, end of period | $ | — | $ | — | $ | 1,022 | $ | 179 | $ | — | $ | — | $ | 1,201 | |||||||||||||||
Description_Of_Business_And_Ba1
Description Of Business And Basis Of Presentation (Details) (USD $) | 0 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Aug. 06, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
segments | ||||
Number Of Reportable Segments | 2 | |||
Foreign Currency Transaction Gain (Loss), before Tax | ($22) | $23 | ($4) | |
Stockholders' Equity Note, Stock Split, Conversion Ratio | 2 | |||
Stock split effected in the form of a share dividend | 0 | |||
Series C Common Stock [Member] | ||||
Stock split effected in the form of a share dividend | 2 | |||
Education And Other [Member] | ||||
Number of Operating Segments | 2 |
Summary_Of_Significant_Account2
Summary Of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Customers | Customers | Customers | |
Summary Of Significant Accounting Policies [Line Items] | |||
Unrecognized Tax Benefits Resulting in Net Operating Loss Carryforward | $0 | ||
Foreign Currency Transaction Gain (Loss), before Tax | -22 | 23 | -4 |
Launch amortization expense | 11 | 18 | 20 |
Dividend yield | 0.00% | ||
Advertising expense | $145 | $156 | $124 |
Number of cable and satellite operators, US | 10 | ||
Number of cable and satellite operators, Non-US | 10 | ||
Concentration risk, number of customers | 0 | 0 | 0 |
Distribution Revenue [Member] | United States [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Concentration risk, percentage | 90.00% | ||
Distribution Revenue [Member] | Other Non United States [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Concentration risk, percentage | 45.00% | ||
Sales [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Concentration risk, percentage | 10.00% | 10.00% | 10.00% |
Minimum [Member] | Buildings [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Useful Life | 15 years | ||
Minimum [Member] | Broadcast Equipment [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
Minimum [Member] | Capitalized Software [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Useful Life | 2 years | ||
Minimum [Member] | Office Equipment [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
Minimum [Member] | Assets Held under Capital Leases [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Useful Life | 1 year | ||
Minimum [Member] | Media Content [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Content Rights, Useful Life | 1 year | ||
Maximum [Member] | Buildings [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Useful Life | 39 years | ||
Maximum [Member] | Broadcast Equipment [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Useful Life | 5 years | ||
Maximum [Member] | Capitalized Software [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Useful Life | 5 years | ||
Maximum [Member] | Office Equipment [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Useful Life | 5 years | ||
Maximum [Member] | Assets Held under Capital Leases [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Property, Plant and Equipment, Useful Life | 15 years | ||
Maximum [Member] | Media Content [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Content Rights, Useful Life | 5 years |
Acquisitions_And_Dispositions_1
Acquisitions And Dispositions (Narrative) (Details) | 0 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 27 Months Ended | 6 Months Ended | |||||||||||||||||||
In Millions, unless otherwise specified | 30-May-14 | Jul. 16, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 23, 2014 | Dec. 31, 2014 | Sep. 23, 2014 | Jun. 30, 2014 | 30-May-14 | 30-May-14 | Dec. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2014 | Apr. 09, 2013 | Apr. 09, 2013 | Jan. 10, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2022 | Sep. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2015 |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Pro Forma [Member] | Pro Forma [Member] | Hub [Member] | Hub [Member] | Hub [Member] | Hub [Member] | Eurosport International [Member] | Eurosport International [Member] | Eurosport International [Member] | Eurosport International [Member] | Eurosport France [Member] | SBS Nordic [Member] | SBS Nordic [Member] | Discovery Japan [Member] | Discovery Japan [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Switchover Media and Other [Member] | Forecast [Member] | Forecast [Member] | Forecast [Member] | Forecast [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | USD ($) | EUR (€) | USD ($) | USD ($) | USD ($) | USD ($) | channels | Hub [Member] | Eurosport International [Member] | Eurosport France [Member] | Eurosport France [Member] | ||||||||||||
USD ($) | EUR (€) | |||||||||||||||||||||||||||
Significant Acquisitions and Disposals [Line Items] | ||||||||||||||||||||||||||||
Derivative, Term of Contract | 1 year 0 months | 2 years 6 months | ||||||||||||||||||||||||||
Increase or Decrease in ownership, percentage | 10.00% | 30.00% | ||||||||||||||||||||||||||
Business Combination, Consideration Transferred | $64 | $351 | € 259 | $1,800 | € 1,400 | $53 | $40 | $88 | $173 | $48 | € 35 | |||||||||||||||||
Equity Method Investment, Ownership Percentage | 50.00% | 20.00% | ||||||||||||||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 60.00% | 51.00% | 51.00% | |||||||||||||||||||||||||
Remeasurement gain on previously held equity interests | 29 | 92 | 0 | 0 | 29 | 92 | ||||||||||||||||||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 40.00% | 49.00% | 20.00% | |||||||||||||||||||||||||
Finite-Lived Intangible Assets, Useful Life | 25 years | 10 years | 10 years | 8 years | 8 years | 20 years | ||||||||||||||||||||||
Finite Lived Intangible Asset Useful Life, Renewal Assumption | 3 | |||||||||||||||||||||||||||
Finite Lived Intangible Asset Useful Life Contract Term Assumption | 8 years | |||||||||||||||||||||||||||
Noncontrolling interest subject to call option | 31.00% | |||||||||||||||||||||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage | 50.00% | |||||||||||||||||||||||||||
Business Combination, Contingent Consideration, Liability | 2 | |||||||||||||||||||||||||||
Payments for Previous Acquisition | 2 | 15 | ||||||||||||||||||||||||||
Goodwill | 8,236 | 7,341 | 6,399 | 310 | 785 | 779 | 103 | 37 | 67 | 108 | ||||||||||||||||||
Intangible Assets | 301 | 467 | 1,001 | 100 | 10 | 24 | 70 | |||||||||||||||||||||
Number of television channels | 5 | |||||||||||||||||||||||||||
Business Combination, Acquisition Related Costs | 4 | 3 | ||||||||||||||||||||||||||
Proceeds from dispositions | 45 | 45 | 28 | 0 | ||||||||||||||||||||||||
Gain on disposition, Not Discontinued Operations | $31 | $19 | $31 | $19 | $0 |
Acquisitions_And_Dispositions_2
Acquisitions And Dispositions (Schedule of Purchase Price Allocation) (Details) (USD $) | 12 Months Ended | 0 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 23, 2014 | 30-May-14 | Jan. 10, 2013 | Apr. 09, 2013 |
Business Acquisition [Line Items] | |||||||
Goodwill | $8,236 | $7,341 | $6,399 | ||||
Redeemable Noncontrolling Interest | -747 | -36 | |||||
Removal of TF1 Put Right | -4 | -20 | |||||
Currency Translation Adjustment | 7 | 6 | 0 | ||||
Remeasurement gain on previously held equity interests | -29 | -92 | 0 | ||||
Hub [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Goodwill | 310 | ||||||
Intangible Assets | 301 | ||||||
Other Assets Acquired | 96 | ||||||
Cash | 33 | ||||||
Liabilities Assumed | -125 | ||||||
Redeemable Noncontrolling Interest | -238 | ||||||
Carrying value previously held equity interest | -313 | ||||||
Remeasurement gain on previously held equity interests | 0 | ||||||
Net assets acquired | 64 | ||||||
Eurosport International [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Goodwill | 785 | ||||||
Intangible Assets | 467 | ||||||
Other Assets Acquired | 169 | ||||||
Cash | 47 | ||||||
Liabilities Assumed | -169 | ||||||
Redeemable Noncontrolling Interest | -558 | ||||||
Carrying value previously held equity interest | -231 | ||||||
Removal of TF1 Put Right | 27 | ||||||
Currency Translation Adjustment | 7 | ||||||
Remeasurement gain on previously held equity interests | -29 | ||||||
Deferred Tax Liabilities | -164 | ||||||
Net assets acquired | 351 | ||||||
SBS Nordic [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Goodwill | 779 | ||||||
Intangible Assets | 1,001 | ||||||
Other Assets Acquired | 212 | ||||||
Cash | 106 | ||||||
Liabilities Assumed | -278 | ||||||
Redeemable Noncontrolling Interest | -6 | ||||||
Deferred Tax Liabilities | -243 | ||||||
Content | 248 | ||||||
Net assets acquired | 1,819 | ||||||
Discovery Japan [Member] | |||||||
Business Acquisition [Line Items] | |||||||
Goodwill | 103 | ||||||
Intangible Assets | 100 | ||||||
Other Assets Acquired | 25 | ||||||
Cash | 4 | ||||||
Liabilities Assumed | -55 | ||||||
Redeemable Noncontrolling Interest | -35 | ||||||
Carrying value previously held equity interest | -3 | ||||||
Currency Translation Adjustment | 6 | ||||||
Remeasurement gain on previously held equity interests | -92 | ||||||
Net assets acquired | $53 |
Acquisitions_And_Dispositions_3
Acquisitions And Dispositions (Schedule of Pro Forma Financial Information) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Pro Forma Financial Information [Abstract] | |||
Business Acquisition, Pro Forma Revenue | $6,559 | $6,413 | $5,315 |
Business Acquisition, Pro Forma Net Income | $1,168 | $1,084 | $992 |
Acquisitions_And_Dispositions_4
Acquisitions And Dispositions (Schedule of Consolidation of Results of Business Combinations) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||||
Distribution | $2,842 | $2,536 | $2,206 | |||||||||||||
Advertising | 3,089 | 2,739 | 2,037 | |||||||||||||
Other | 334 | 260 | 244 | |||||||||||||
Revenues | 1,676 | [1] | 1,568 | [1] | 1,610 | 1,411 | 1,537 | [2] | 1,375 | [2] | 1,467 | [2] | 1,156 | 6,265 | 5,535 | 4,487 |
Net income | 235 | [1] | 287 | [1] | 384 | 231 | 290 | [2] | 256 | [2] | 300 | [2] | 231 | 1,137 | 1,077 | 945 |
Business Combinations [Member] | ||||||||||||||||
Distribution | 449 | 187 | ||||||||||||||
Advertising | 687 | 460 | ||||||||||||||
Other | 117 | 19 | ||||||||||||||
Revenues | 1,253 | 666 | ||||||||||||||
Net income | $85 | $0 | ||||||||||||||
[1] | (a) On September 23, 2014, the Company acquired an additional 10% ownership interest in Discovery Family and, as a result, the accounting for Discovery Family was changed from an equity method investment to a consolidated subsidiary. On May 30, 2014, the Company acquired a controlling interest in Eurosport and, as a result, the accounting for Eurosport was changed from an equity method investment to a consolidated subsidiary. (See Note 3.) | |||||||||||||||
[2] | (b)On April 9, 2013, the Company acquired SBS Nordic. The Company included the operations of this acquisition in the Company's consolidated financial statements as of the acquisition date. (See Note 3.) |
Variable_Interest_Entities_Det
Variable Interest Entities (Details) (USD $) | 12 Months Ended | 0 Months Ended | 3 Months Ended | 12 Months Ended | 90 Months Ended | ||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Sep. 23, 2014 | Jan. 02, 2011 | Mar. 31, 2012 | Dec. 31, 2022 | Jul. 01, 2023 | Jan. 01, 2016 | |
Variable Interest Entity [Line Items] | |||||||||
Aggregate carrying value of investments in VIE's accounted for using the equity method | $461,000,000 | $789,000,000 | |||||||
Income (losses) generated by variable interest entities | 45,000,000 | 10,000,000 | -92,000,000 | ||||||
Variable interest, maximum exposure to loss | 488,000,000 | ||||||||
Put Right Obligations | 0 | 0 | |||||||
Hub [Member] | |||||||||
Variable Interest Entity [Line Items] | |||||||||
Increase or Decrease in ownership, percentage | 10.00% | ||||||||
Business Combination, Consideration Transferred | 64,000,000 | ||||||||
OWN Joint Venture [Member] | |||||||||
Variable Interest Entity [Line Items] | |||||||||
Aggregate carrying value of investments in VIE's accounted for using the equity method | 424,000,000 | 449,000,000 | |||||||
Variable Interest Entity, Funded Notes Receivable | 457,000,000 | 483,000,000 | |||||||
Variable interest entity net cash received (paid) | -59,000,000 | -34,000,000 | |||||||
Interest Income | 33,000,000 | 35,000,000 | |||||||
VIE Funding Obligation, Carrying Value | 0 | ||||||||
Debt instrument interest rate | 7.50% | ||||||||
Borrowings Scheduled Repayment, Period | 4 | ||||||||
Future allocated net income amount from variable interest entity | 104,000,000 | ||||||||
Loss Allocation Percentage | 100.00% | 100.00% | 100.00% | ||||||
Variable interest entity, Other than Temporary Impairment | 0 | ||||||||
Put Right Obligations | 0 | 0 | |||||||
Hub [Member] | |||||||||
Variable Interest Entity [Line Items] | |||||||||
Aggregate carrying value of investments in VIE's accounted for using the equity method | 312,000,000 | ||||||||
Forecast [Member] | Hub [Member] | |||||||||
Variable Interest Entity [Line Items] | |||||||||
Derivative, Term of Contract | 1 year 0 months | ||||||||
Forecast [Member] | OWN Joint Venture [Member] | |||||||||
Variable Interest Entity [Line Items] | |||||||||
Minimum put amount for purchase of Harpo's joint venture interest in OWN, first put exercise date | 100,000,000 | ||||||||
Maximum put amount for purchase of Harpo's joint venture interest in OWN, fourth put exercise date | $400,000,000 | ||||||||
Derivative, Term of Contract | 2 years 6 months |
Investments_Narrative_Details
Investments (Narrative) (Details) | 12 Months Ended | 0 Months Ended | 0 Months Ended | 0 Months Ended | ||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | 30-May-14 | 30-May-14 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 23, 2014 | Sep. 23, 2014 | Jun. 30, 2014 | Sep. 23, 2014 | Sep. 23, 2014 | Sep. 23, 2014 | Sep. 23, 2014 | Dec. 31, 2014 |
USD ($) | USD ($) | USD ($) | Series of Individually Immaterial Business Acquisitions [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Series of Individually Immaterial Business Acquisitions [Member] | Eurosport International [Member] | Eurosport International [Member] | Eurosport International [Member] | Eurosport International [Member] | Hub [Member] | Hub [Member] | Hub [Member] | All3Media [Member] | All3Media [Member] | All3Media [Member] | All3Media [Member] | Eurosport France [Member] | |
USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | USD ($) | GBP (£) | USD ($) | GBP (£) | USD ($) | |||||||
Schedule of Investment Income, Reported Amounts, by Category [Line Items] | ||||||||||||||||||
Equity Method Investment, Ownership Percentage | 20.00% | 50.00% | 50.00% | 50.00% | ||||||||||||||
Equity Method Investment, Business Enterprise Value | $912 | £ 556 | ||||||||||||||||
Payments to Acquire Equity Method Investments | 177 | 28 | 404 | 147 | 90 | |||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 51.00% | 51.00% | 60.00% | |||||||||||||||
Business Combination, Consideration Transferred | 40 | 88 | 173 | 351 | 259 | 64 | ||||||||||||
Increase or Decrease in ownership, percentage | 10.00% | |||||||||||||||||
Aggregate carrying value of investments in VIE's accounted for using the equity method | 461 | 789 | ||||||||||||||||
Equity method investments | $271 | $26 |
Investments_Investments_Schedu
Investments Investments (Schedule of Investments) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Investments [Abstract] | ||
Trading securities | $147 | $129 |
Available-for-sale securities | 0 | 4 |
Equity method investments | 644 | 1,087 |
Cost Method Investments | 29 | 34 |
Investments | $820 | $1,254 |
Fair_Value_Measurements_Narrat
Fair Value Measurements (Narrative) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
TF1 put right | $4,000,000 | $20,000,000 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
TF1 put right | 0 | 0 |
Long-term debt, fair value | 7,500,000,000 | 6,600,000,000 |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
TF1 put right | $4,000,000 | $20,000,000 |
Fair_Value_Measurements_Schedu
Fair Value Measurements (Schedule Of Assets And Liabilities Measured On Recurring Basis) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | $147 | $129 |
Available-for-sale securities | 0 | 4 |
Total assets | 171 | 146 |
Deferred compensation plan | 147 | 129 |
Derivative Liabilities | 1 | |
TF1 put right | 4 | 20 |
Total liabilities | 180 | 150 |
Prepaid expenses and other current assets [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Assets | 17 | 4 |
Other Assets [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Assets | 7 | 9 |
Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 147 | 129 |
Available-for-sale securities | 4 | |
Total assets | 147 | 133 |
Deferred compensation plan | 147 | 129 |
Derivative Liabilities | 0 | |
TF1 put right | 0 | 0 |
Total liabilities | 147 | 129 |
Level 1 [Member] | Prepaid expenses and other current assets [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Assets | 0 | 0 |
Level 1 [Member] | Other Assets [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Assets | 0 | 0 |
Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 0 | 0 |
Available-for-sale securities | 0 | |
Total assets | 24 | 13 |
Deferred compensation plan | 0 | 0 |
Derivative Liabilities | 1 | |
TF1 put right | 0 | 0 |
Total liabilities | 29 | 1 |
Level 2 [Member] | Prepaid expenses and other current assets [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Assets | 17 | 4 |
Level 2 [Member] | Other Assets [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Assets | 7 | 9 |
Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities | 0 | 0 |
Available-for-sale securities | 0 | |
Total assets | 0 | 0 |
Deferred compensation plan | 0 | 0 |
Derivative Liabilities | 0 | |
TF1 put right | 4 | 20 |
Total liabilities | 4 | 20 |
Level 3 [Member] | Prepaid expenses and other current assets [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Assets | 0 | 0 |
Level 3 [Member] | Other Assets [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Assets | 0 | 0 |
Foreign Exchange Contract [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Liabilities | 1 | |
Foreign Exchange Contract [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Liabilities | 0 | |
Foreign Exchange Contract [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Liabilities | 1 | |
Foreign Exchange Contract [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Liabilities | 0 | |
Interest Rate Contract [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Liabilities | 28 | |
Interest Rate Contract [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Liabilities | 0 | |
Interest Rate Contract [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Liabilities | 28 | |
Interest Rate Contract [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Liabilities | $0 |
Content_Rights_Narrative_Detai
Content Rights (Narrative) (Details) (USD $) | 12 Months Ended | ||||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2015 | |||
Content impairments | $95 | [1] | $33 | [1] | $33 | [1] | |
Content impairments in restructuring and other charges | 55 | 0 | 0 | ||||
Percentage of unamortized content rights | 95.00% | ||||||
Years from date of balance sheet | P3Y | ||||||
Forecast [Member] | |||||||
Amortization of unamortized content rights | $928 | ||||||
[1] | (a) Content impairments are generally recorded as a component of costs of revenue. During the year ended DecemberB 31, 2014, of the $95 million in content impairments recorded, $55 million were classified as a component of restructuring and other charges. These charges resulted from the consolidation and subsequent rebranding of The Hub Network to Discovery Family and the cancellation of certain high profile series due to legal circumstances pertaining to the associated talent. (See Note 16.) |
Content_Rights_Schedule_Of_Con
Content Rights (Schedule Of Content Rights) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Licensed content rights: | ||
Content rights, at cost | $2,297 | $1,733 |
Accumulated amortization | -3,127 | -3,389 |
Total content rights, net | 2,302 | 2,160 |
Current portion | -329 | -277 |
Noncurrent portion | 1,973 | 1,883 |
Media Content [Member] | ||
Produced content rights: | ||
Completed | 3,242 | 3,566 |
In-production | 377 | 334 |
Coproduced content rights: | ||
Completed | 696 | 637 |
In-production | 83 | 84 |
Licensed content rights: | ||
Acquired | 949 | 880 |
Prepaid | 82 | 48 |
Content rights, at cost | $5,429 | $5,549 |
Content_Rights_Content_Rights_
Content Rights Content Rights (Schedule of Content Expense) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Content Rights [Abstract] | ||||||
Content amortization | $1,462 | $1,157 | $832 | |||
Other production charges | 155 | 100 | 75 | |||
Content impairments | 95 | [1] | 33 | [1] | 33 | [1] |
Total content expense | $1,712 | $1,290 | $940 | |||
[1] | (a) Content impairments are generally recorded as a component of costs of revenue. During the year ended DecemberB 31, 2014, of the $95 million in content impairments recorded, $55 million were classified as a component of restructuring and other charges. These charges resulted from the consolidation and subsequent rebranding of The Hub Network to Discovery Family and the cancellation of certain high profile series due to legal circumstances pertaining to the associated talent. (See Note 16.) |
Property_And_Equipment_Narrati
Property And Equipment (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Property and Equipment [Line Items] | |||
Capital leased assets, gross | $274 | $238 | |
Capital Lease, Accumulated Amortization | 120 | 98 | |
Capitalized software costs, net | 63 | 48 | |
Depreciation expense | 329 | 276 | 117 |
Rental expense for operating leases | 143 | 94 | 60 |
Property and Equipment [Member] | |||
Property and Equipment [Line Items] | |||
Depreciation expense | $131 | $111 | $88 |
Property_And_Equipment_Compone
Property And Equipment (Components Of Property And Equipment) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Property, Plant and Equipment [Abstract] | ||
Land, buildings and leasehold improvements | $340 | $318 |
Broadcast equipment | 612 | 556 |
Capitalized software costs | 258 | 222 |
Office equipment, furniture, fixtures and other | 332 | 301 |
Property and equipment, at cost | 1,542 | 1,397 |
Accumulated depreciation | -988 | -883 |
Property and equipment, net | $554 | $514 |
Goodwill_And_Intangible_Assets2
Goodwill And Intangible Assets (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Finite-Lived Intangible Assets, Period Increase (Decrease) | $406,000,000 | ||
Finite-lived Intangible Assets Acquired | 778,000,000 | ||
Amortization expense, excluding impairment charges, related to finite-lived intangible assets | 198,000,000 | 165,000,000 | 29,000,000 |
Goodwill, Impairment Loss | 0 | 0 | 0 |
U.S. Networks [Member] | |||
Accumulated impairments | $20,000,000 | $20,000,000 |
Goodwill_And_Intangible_Assets3
Goodwill And Intangible Assets (Goodwill By Reportable Segment) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | $7,341 | $6,399 |
Acquisitions | 1,132 | 949 |
Dispositions | -12 | -9 |
Foreign currency translation | -225 | 2 |
Goodwill, Ending Balance | 8,236 | 7,341 |
U.S. Networks [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | 4,989 | 4,998 |
Acquisitions | 310 | 0 |
Dispositions | -12 | -9 |
Foreign currency translation | 0 | 0 |
Goodwill, Ending Balance | 5,287 | 4,989 |
International Networks [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | 2,296 | 1,371 |
Acquisitions | 794 | 924 |
Dispositions | 0 | 0 |
Foreign currency translation | -221 | 1 |
Goodwill, Ending Balance | 2,869 | 2,296 |
Education And Other [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | 56 | 30 |
Acquisitions | 28 | 25 |
Dispositions | 0 | 0 |
Foreign currency translation | -4 | 1 |
Goodwill, Ending Balance | $80 | $56 |
Goodwill_And_Intangible_Assets4
Goodwill And Intangible Assets (Schedule Of Intangible Assets Subject To Amortization) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | $2,297 | $1,733 |
Accumulated Amortization | -490 | -332 |
Finite-lived intangible assets net | 1,807 | 1,401 |
Trademarks [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted Average Amortization Period (Years) | 10 years | |
Finite-Lived Intangible Assets, Gross | 489 | 432 |
Accumulated Amortization | -99 | -58 |
Finite-lived intangible assets net | 390 | 374 |
Customer Relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted Average Amortization Period (Years) | 18 years | |
Finite-Lived Intangible Assets, Gross | 1,701 | 1,189 |
Accumulated Amortization | -370 | -262 |
Finite-lived intangible assets net | 1,331 | 927 |
Others [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted Average Amortization Period (Years) | 13 years | |
Finite-Lived Intangible Assets, Gross | 107 | 112 |
Accumulated Amortization | -21 | -12 |
Finite-lived intangible assets net | $86 | $100 |
Goodwill_And_Intangible_Assets5
Goodwill And Intangible Assets (Schedule Of Intangible Assets Not Subject To Amortization) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Indefinite-lived Intangible Assets by Major Class [Line Items] | ||
Indefinite-lived intangible assets net (Trademarks) | $164 | $164 |
Goodwill_And_Intangible_Assets6
Goodwill And Intangible Assets (Amortization Expense For Intangible Assets) (Details) (USD $) | Dec. 31, 2014 |
In Millions, unless otherwise specified | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
2015 | $199 |
2016 | 191 |
2017 | 180 |
2018 | 169 |
2019 | 162 |
Thereafter | $906 |
Debt_Narrative_Details
Debt (Narrative) (Details) | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||
Jun. 20, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Mar. 07, 2014 | Dec. 31, 2014 | Mar. 07, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | |
USD ($) | USD ($) | USD ($) | 2.375% Senior Notes [Member] | 2.375% Senior Notes [Member] | 2.375% Senior Notes [Member] | 2.375% Senior Notes [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolver sublimit for multi-currency borrowings [Member] | Revolver sublimit for standby letters of credit [Member] | Revolver sublimit for swing line loans [Member] | Commercial Paper [Member] | London Interbank Offered Rate (LIBOR) [Member] | Base Rate [Member] | ||
USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Debt Instrument, Issuance Date | 7-Mar-14 | |||||||||||||||
Long-term Debt, Gross | $7,169,000,000 | $6,515,000,000 | $417,000,000 | $365,000,000 | € 300,000,000 | $0 | ||||||||||
Foreign Currency Exchange Rate, Remeasurement | 1.39 | |||||||||||||||
Debt instrument interest rate | 2.38% | 2.38% | ||||||||||||||
Debt Instrument, Maturity Date | 7-Mar-22 | 7-Mar-22 | ||||||||||||||
Debt instrument total discount | 3,000,000 | |||||||||||||||
Deferred financing costs | 6,000,000 | 12,000,000 | 11,000,000 | 3,000,000 | 3,000,000 | |||||||||||
Line of Credit Facility, Initiation Date | 20-Jun-14 | |||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 1,500,000,000 | 1,000,000,000 | 750,000,000 | 100,000,000 | 50,000,000 | |||||||||||
Increase to revolving credit facility | 1,000,000,000 | |||||||||||||||
Line of Credit Facility, Expiration Date | 20-Jun-19 | |||||||||||||||
Line of Credit Facility, Amount Outstanding | 38,000,000 | 0 | ||||||||||||||
Debt, Weighted Average Interest Rate | 1.98% | 0.60% | ||||||||||||||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 1.10% | 0.10% | ||||||||||||||
Line of Credit Facility, Collateral Fees | 0.0015 | |||||||||||||||
Commercial Paper | $229,000,000 | $0 | ||||||||||||||
maximum period of maturities outstanding | 90 days |
Debt_Outstanding_Debt_Details
Debt (Outstanding Debt) (Details) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Mar. 07, 2014 | Mar. 07, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | USD ($) | USD ($) | 3.70% Senior Notes [Member] | 3.70% Senior Notes [Member] | 5.625% Senior Notes [Member] | 5.625% Senior Notes [Member] | 5.05% Senior Notes [Member] | 5.05% Senior Notes [Member] | 4.375% Senior Notes [Member] | 4.375% Senior Notes [Member] | 2.375% Senior Notes [Member] | 2.375% Senior Notes [Member] | 2.375% Senior Notes [Member] | 2.375% Senior Notes [Member] | 3.30% Senior Notes [Member] | 3.30% Senior Notes [Member] | 3.25% Percent Senior Notes [Member] | 3.25% Percent Senior Notes [Member] | 6.35% Senior Notes [Member] | 6.35% Senior Notes [Member] | 4.95% Senior Notes [Member] | 4.95% Senior Notes [Member] | 4.875% Senior Notes [Member] | 4.875% Senior Notes [Member] |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |||
Debt Instrument [Line Items] | ||||||||||||||||||||||||
Line of Credit Facility, Amount Outstanding | $38 | $0 | ||||||||||||||||||||||
Capital Lease Obligations | 187 | 165 | ||||||||||||||||||||||
Commercial Paper | 229 | 0 | ||||||||||||||||||||||
Total debt | 7,169 | 6,515 | 850 | 850 | 500 | 500 | 1,300 | 1,300 | 650 | 650 | 365 | 417 | 300 | 0 | 500 | 500 | 350 | 350 | 850 | 850 | 500 | 500 | 850 | 850 |
Unamortized discount | -16 | -16 | ||||||||||||||||||||||
Debt, net | 7,153 | 6,499 | ||||||||||||||||||||||
Current portion of debt | -1,107 | -17 | ||||||||||||||||||||||
Noncurrent portion of debt | $6,046 | $6,482 |
Debt_Parenthetical_Details
Debt (Parenthetical) (Details) | 0 Months Ended | 12 Months Ended |
Mar. 07, 2014 | Dec. 31, 2014 | |
3.70% Senior Notes [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt, stated interest rate | 3.70% | |
Long-term debt, frequency of periodic payments | semi-annual | |
Debt Instrument, Maturity Date | 1-Jun-15 | |
5.625% Senior Notes [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt, stated interest rate | 5.63% | |
Long-term debt, frequency of periodic payments | semi-annual | |
Debt Instrument, Maturity Date | 15-Aug-19 | |
5.05% Senior Notes [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt, stated interest rate | 5.05% | |
Long-term debt, frequency of periodic payments | semi-annual | |
Debt Instrument, Maturity Date | 1-Jun-20 | |
4.375% Senior Notes [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt, stated interest rate | 4.38% | |
Long-term debt, frequency of periodic payments | semi-annual | |
Debt Instrument, Maturity Date | 15-Jun-21 | |
2.375% Senior Notes [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt, stated interest rate | 2.38% | 2.38% |
Long-term debt, frequency of periodic payments | annual | |
Debt Instrument, Maturity Date | 7-Mar-22 | 7-Mar-22 |
3.25% Percent Senior Notes [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt, stated interest rate | 3.25% | |
Long-term debt, frequency of periodic payments | semi-annual | |
Debt Instrument, Maturity Date | 1-Apr-23 | |
6.35% Senior Notes [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt, stated interest rate | 6.35% | |
Long-term debt, frequency of periodic payments | semi-annual | |
Debt Instrument, Maturity Date | 1-Jun-40 | |
3.30% Senior Notes [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt, stated interest rate | 3.30% | |
Long-term debt, frequency of periodic payments | semi-annual | |
Debt Instrument, Maturity Date | 15-May-22 | |
4.95% Senior Notes [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt, stated interest rate | 4.95% | |
Long-term debt, frequency of periodic payments | semi-annual | |
Debt Instrument, Maturity Date | 15-May-42 | |
4.875% Senior Notes [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt, stated interest rate | 4.88% | |
Long-term debt, frequency of periodic payments | semi-annual | |
Debt Instrument, Maturity Date | 1-Apr-43 |
Debt_Schedule_Of_Debt_Payments
Debt (Schedule Of Debt Payments) (Details) (USD $) | Dec. 31, 2014 |
In Millions, unless otherwise specified | |
Extinguishment of Debt [Line Items] | |
2015 | $850 |
2016 | 0 |
2017 | 0 |
2018 | 0 |
2019 | 500 |
Thereafter | $5,365 |
Derivative_Financial_Instrumen3
Derivative Financial Instruments (Narrative) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Derivative [Line Items] | ||
Derivative Asset, Fair Value, Amount Offset Against Collateral | $0 | $0 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | ||
Derivative [Line Items] | ||
Derivatives, Notional Amount, Used to Hedge to Business Combinations | $0 |
Derivative_Financial_Instrumen4
Derivative Financial Instruments Derivative Financial Instruments (Schedule of Derivative Instruments, Fair Value) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Prepaid expenses and other current assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | $425,000,000 | $16,000,000 |
Derivative Asset, Fair Value, Gross Liability | 17,000,000 | 4,000,000 |
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other noncurrent assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | 20,000,000 | 36,000,000 |
Derivative Asset, Fair Value, Gross Liability | 7,000,000 | 9,000,000 |
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Accrued liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | 35,000,000 | 0 |
Derivative Liability, Fair Value, Gross Asset | 1,000,000 | 0 |
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Accrued liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | 475,000,000 | 0 |
Derivative Liability, Fair Value, Gross Asset | 28,000,000 | 0 |
Not Designated as Hedging Instrument [Member] | Prepaid expenses and other current assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | 3,000,000 | 0 |
Derivative Asset, Fair Value, Gross Liability | 0 | 0 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | 0 | |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Accrued liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | 0 | 4,000,000 |
Derivative Liability, Fair Value, Gross Asset | 0 | 1,000,000 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other noncurrent liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative, Notional Amount | 0 | 3,000,000 |
Derivative Liability, Fair Value, Gross Asset | $0 | $0 |
Derivative_Financial_Instrumen5
Derivative Financial Instruments (Schedule of Comprehensive Income Impact of Items Designated as Hedges (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Foreign Exchange Contract [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | $14 | $10 | $0 |
Interest Rate Contract [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | -28 | 0 | -2 |
Cost of Sales [Member] | Foreign Exchange Contract [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | 1 | 0 | 0 |
Selling, General and Administrative Expenses [Member] | Foreign Exchange Contract [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | 0 | 1 | 0 |
Other Expense [Member] | Foreign Exchange Contract [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | $3 | $0 | $0 |
Derivative_Financial_Instrumen6
Derivative Financial Instruments Derivative Financial Instruments (Schedule of Pre-Tax Gains (Losses) of Items Not Designated as Hedges) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $1 | ($56) | ($2) |
Foreign Exchange Contract [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $1 | ($56) | ($2) |
Redeemable_Noncontrolling_Inte3
Redeemable Noncontrolling Interest (Narrative) (Details) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 27 Months Ended | 0 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 23, 2014 | Dec. 31, 2022 | 30-May-14 | Sep. 30, 2016 | Jan. 10, 2013 | Nov. 19, 2014 | Apr. 09, 2013 |
Redeemable Noncontrolling Interest [Line Items] | |||||||||
Redeemable Noncontrolling Interest, Equity, Common, Carrying Amount | $747 | $36 | |||||||
Initial fair value of redeemable noncontrolling interests of acquired businesses | 796 | 41 | |||||||
Hub [Member] | |||||||||
Redeemable Noncontrolling Interest [Line Items] | |||||||||
Redeemable Noncontrolling Interest, Equity, Common, Carrying Amount | 238 | ||||||||
Initial fair value of redeemable noncontrolling interests of acquired businesses | 238 | ||||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 40.00% | ||||||||
Hub [Member] | Forecast [Member] | |||||||||
Redeemable Noncontrolling Interest [Line Items] | |||||||||
Terms Of Put Arrangement | 1 year 0 months | ||||||||
Eurosport International [Member] | |||||||||
Redeemable Noncontrolling Interest [Line Items] | |||||||||
Redeemable Noncontrolling Interest, Equity, Common, Carrying Amount | 558 | ||||||||
Initial fair value of redeemable noncontrolling interests of acquired businesses | 558 | ||||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 49.00% | ||||||||
Eurosport International [Member] | Forecast [Member] | |||||||||
Redeemable Noncontrolling Interest [Line Items] | |||||||||
Terms Of Put Arrangement | 2 years 6 months | ||||||||
Discovery Japan [Member] | |||||||||
Redeemable Noncontrolling Interest [Line Items] | |||||||||
Redeemable Noncontrolling Interest, Equity, Common, Carrying Amount | 35 | ||||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 20.00% | ||||||||
SBS Nordic [Member] | |||||||||
Redeemable Noncontrolling Interest [Line Items] | |||||||||
Redeemable Noncontrolling Interest, Equity, Common, Carrying Amount | 6 | ||||||||
Discovery Japan [Member] | |||||||||
Redeemable Noncontrolling Interest [Line Items] | |||||||||
Initial fair value of redeemable noncontrolling interests of acquired businesses | 35 | ||||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 20.00% | ||||||||
Terms Of Put Arrangement | 4 years | ||||||||
SBS Nordic [Member] | |||||||||
Redeemable Noncontrolling Interest [Line Items] | |||||||||
Initial fair value of redeemable noncontrolling interests of acquired businesses | 6 | ||||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 20.00% | ||||||||
Payments for Repurchase of Redeemable Noncontrolling Interest | $1 |
Redeemable_Noncontrolling_Inte4
Redeemable Noncontrolling Interest (Schedule of Redeemable Noncontrolling Interest) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Increase (Decrease) In Redeemable Noncontrolling Interest [Roll Forward] | ||
Beginning Balance | $36 | $0 |
Initial fair value of redeemable noncontrolling interests of acquired businesses | 796 | 41 |
Purchase of subsidiary shares at fair value | -6 | 0 |
Cash distributions to redeemable noncontrolling interests | -2 | 0 |
Net income attributable to redeemable noncontrolling interests | -4 | 1 |
Other comprehensive loss attributable to redeemable noncontrolling interests | -40 | -3 |
Currency translation on redemption values | -64 | -5 |
Adjustments to redemption value | 31 | 2 |
Ending Balance | $747 | $36 |
Equity_Narrative_Details
Equity (Narrative) (Details) (USD $) | 0 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | |||||
Apr. 05, 2013 | Dec. 31, 2014 | Dec. 28, 2012 | Mar. 31, 2015 | Aug. 06, 2014 | Jun. 30, 2014 | Dec. 31, 2013 | Sep. 17, 2008 | Feb. 13, 2014 | |
Authorization under the stock repurchase program | $5,500,000,000 | ||||||||
Treasury Stock, Value | 4,763,000,000 | 3,531,000,000 | |||||||
Preferred stock, shares authorized | 150,000,000 | ||||||||
Convertible Preferred Stock, Shares Issued upon Conversion | 2 | 1 | |||||||
Gain or loss on conversion of preferred stock | 0 | ||||||||
Common Stock [Member] | |||||||||
Number of stock classes | 3 | ||||||||
Series A Common Stock [Member] | |||||||||
Common Stock, Voting Rights | 1 | ||||||||
Treasury Stock, Shares | 2,800,000 | ||||||||
Treasury Stock, Value | 171,000,000 | ||||||||
Series B Common Stock [Member] | |||||||||
Common Stock, Voting Rights | 10 | ||||||||
Common Stock Conversion Option | 1 | ||||||||
Preferred stock, shares authorized | 100,000,000 | 100,000,000 | |||||||
Preferred stock released from escrow | 7,000,000 | 7,000,000 | |||||||
Series C Common Stock [Member] | |||||||||
Treasury Stock, Shares | 91,300,000 | ||||||||
Treasury Stock, Value | 4,600,000,000 | ||||||||
Series A Convertible Preferred Stock [Member] | |||||||||
Preferred stock, shares authorized | 75,000,000 | 75,000,000 | |||||||
Temporary equity automatic conversion, percentage | 80.00% | ||||||||
Preferred Stock Conversion Option | 1 | ||||||||
Preferred stock released from escrow | 71,000,000 | 71,000,000 | |||||||
Convertible preferred stock, liquidation preference | $0.01 | ||||||||
Series C Convertible Preferred Stock [Member] | |||||||||
Preferred stock, shares authorized | 75,000,000 | 75,000,000 | |||||||
Share Conversion (in shares) | 550,000 | 8,400,000 | |||||||
Preferred stock released from escrow | 42,000,000 | 44,000,000 | |||||||
Convertible preferred stock, liquidation preference | $0.01 | ||||||||
Preferred Stock, undesignated [Member] | |||||||||
Preferred stock, shares authorized | 50,000,000 | ||||||||
Preferred Stock [Member] | |||||||||
Number of stock classes | 2 | ||||||||
Advance Programming Holdings, LLC [Member] | Series C Convertible Preferred Stock [Member] | |||||||||
Preferred stock released from escrow | 70,000,000 | ||||||||
Repurchases of preferred stock, shares | 4,000,000 | 2,400,000 | |||||||
Payment for repurchase of preferred stock | 256,000,000 | 190,000,000 | |||||||
Advance Newhouse [Member] | Series A Convertible Preferred Stock [Member] | |||||||||
Preferred stock released from escrow | 70,000,000 | ||||||||
Expiration of repurchase program on February 3, 2016 [Member] | |||||||||
Remaining authorization | 738,000,000 | ||||||||
Chief Executive Officer [Member] | Series B Common Stock [Member] | |||||||||
Voting and purchase rights subject to agreement between Dr. Malone and David Zaslav | 5,900,000 | ||||||||
Forecast [Member] | Advance Programming Holdings, LLC [Member] | Series C Convertible Preferred Stock [Member] | |||||||||
Repurchases of preferred stock, shares | 1,700,000 | ||||||||
Payment for repurchase of preferred stock | $117,000,000 |
Equity_Stock_Repurchase_Progra
Equity (Stock Repurchase Program) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Equity, Class of Treasury Stock [Line Items] | |||
Shares Repurchased | 21.3 | 14.1 | 28.5 |
Payments for Repurchase of Common Stock | $1,232 | $1,049 | $1,380 |
Series A Common Stock [Member] | |||
Equity, Class of Treasury Stock [Line Items] | |||
Shares Repurchased | 0 | 0.8 | 2 |
Payments for Repurchase of Common Stock | 0 | 62 | 109 |
Series C Common Stock [Member] | |||
Equity, Class of Treasury Stock [Line Items] | |||
Shares Repurchased | 21.3 | 13.3 | 26.5 |
Payments for Repurchase of Common Stock | $1,232 | $987 | $1,271 |
Equity_Tax_Effects_Related_To_
Equity (Tax Effects Related To Other Comprehensive Income (Loss)) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss), before Reclassification and Tax | ($401) | $16 | $21 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment Realized upon Sale or Liquidation, before Tax | -7 | -9 | 0 |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax | -12 | 13 | -2 |
Other Comprehensive Income (Loss), before Tax | -429 | 19 | 19 |
Other Comprehensive Income (Loss), Foreign Currency Translation Gain (Loss) Arising During Period, Tax | 9 | -21 | 7 |
Other Comprehensive Income (Loss), Foreign Currency Translation Reclassification Adjustment Realized upon Sale or Liquidation, Tax | 0 | 3 | 0 |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax | 5 | -4 | 1 |
Other Comprehensive Income (Loss), Tax | 17 | -22 | 8 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | -392 | -5 | 28 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment Realized upon Sale or Liquidation, Net of Tax | -7 | -6 | 0 |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | -7 | 9 | -1 |
Other Comprehensive Income (Loss), Net Of Tax Including Portion Attributable To Redeemable | -412 | -3 | 27 |
Cost of Sales [Member] | |||
Market Value Adjustments And Reclassifications For Securities And Derivatives Before Tax | -1 | 0 | 0 |
Market Value Adjustment And Reclassification For Securities And Derivatives Tax Amount | 0 | 0 | 0 |
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Net of Tax | -1 | 0 | 0 |
Selling, General and Administrative Expenses [Member] | |||
Market Value Adjustments And Reclassifications For Securities And Derivatives Before Tax | 0 | -1 | 0 |
Market Value Adjustment And Reclassification For Securities And Derivatives Tax Amount | 0 | 0 | 0 |
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Net of Tax | 0 | -1 | 0 |
Gain on Disposition [Member] | |||
Market Value Adjustments And Reclassifications For Securities And Derivatives Before Tax | -5 | 0 | 0 |
Market Value Adjustment And Reclassification For Securities And Derivatives Tax Amount | 2 | 0 | 0 |
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Net of Tax | -3 | 0 | 0 |
Other Expense [Member] | |||
Market Value Adjustments And Reclassifications For Securities And Derivatives Before Tax | -3 | 0 | 0 |
Market Value Adjustment And Reclassification For Securities And Derivatives Tax Amount | 1 | 0 | 0 |
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Net of Tax | ($2) | $0 | $0 |
Equity_Schedule_Of_Change_In_C
Equity (Schedule Of Change In Components Of Accumulated Other Comprehensive Income, Net of Taxes) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Beginning balance | $4 | $4 | ($23) |
Other comprehensive (loss) income before reclassifications | -399 | 4 | |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | -13 | -7 | |
Other Comprehensive Income (Loss), Net Of Tax Including Portion Attributable To Redeemable | -412 | -3 | 27 |
Other comprehensive loss (income) attributable to redeemable noncontrolling interests | 40 | 3 | |
Ending balance | -368 | 4 | 4 |
Currency Translation Adjustments [Member] | |||
Beginning balance | -8 | -1 | -29 |
Other comprehensive (loss) income before reclassifications | -392 | -5 | |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | -7 | -6 | |
Other Comprehensive Income (Loss), Net Of Tax Including Portion Attributable To Redeemable | -399 | -11 | 28 |
Other comprehensive loss (income) attributable to redeemable noncontrolling interests | 40 | 4 | |
Ending balance | -367 | -8 | -1 |
Derivative and Market Value Adjustments [Member] | |||
Beginning balance | 12 | 5 | 6 |
Other comprehensive (loss) income before reclassifications | -7 | 9 | |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | -6 | -1 | |
Other Comprehensive Income (Loss), Net Of Tax Including Portion Attributable To Redeemable | -13 | 8 | -1 |
Other comprehensive loss (income) attributable to redeemable noncontrolling interests | 0 | -1 | |
Ending balance | ($1) | $12 | $5 |
EquityBased_Compensation_Narra
Equity-Based Compensation (Narrative) (Details) (USD $) | 12 Months Ended | 0 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 02, 2015 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 126,000,000 | |||
Future grant under the incentive plans | 105,000,000 | |||
Total liabilities for cash-settled awards | $84 | $138 | ||
Current portion of equity-based compensation liabilities | 32 | 85 | ||
Cash proceeds from equity-based plans, net | 41 | 51 | 84 | |
Performance Based Restricted Stock Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Performance target for measurement period, years | 3 | |||
PRSU vesting range minimum percentage | 0.00% | |||
PRSU vesting range maximum percentage | 100.00% | |||
Share-based performance target, percentage | 80.00% | |||
Outstanding, End of Period | 5,000,000 | |||
Outstanding as of end of period, Weighted-average grant price | $32.23 | |||
Unrecognized compensation cost | 53 | |||
Weighted average period of time, in years, compensation expense related to units is expected to be recognized | 1 year 335 days | |||
Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Outstanding, End of Period | 2,000,000 | |||
Outstanding as of end of period, Weighted-average grant price | $34.16 | |||
Unrecognized compensation cost | 30 | |||
Weighted average period of time, in years, compensation expense related to units is expected to be recognized | 2 years 80 days | |||
Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Unrecognized compensation cost | 28 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $19.73 | $24.46 | $16.94 | |
Weighted average period of time, in years, compensation expense related to units is expected to be recognized | 1 year 336 days | |||
Cash proceeds from equity-based plans, net | 35 | 46 | 80 | |
Exercised, Aggregate Intrinsic Value | 63 | 130 | 148 | |
Unit Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Outstanding, End of Period | 1,200,000 | 3,300,000 | ||
Outstanding as of end of period, Weighted-average grant price | $20.59 | $19.23 | ||
Units settled after balance sheet date | 14.1 | |||
SARs [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Outstanding, End of Period | 12,100,000 | 6,400,000 | ||
Outstanding as of end of period, Weighted-average grant price | $37.38 | $27.60 | ||
Unrecognized compensation cost | 17 | |||
Weighted average period of time, in years, compensation expense related to units is expected to be recognized | 1 year 88 days | |||
Weighted-average fair value Of SARs outstanding | $4.12 | |||
Cash payments made to settle vested SARs and Unit Awards | 29 | 11 | 1 | |
Employee Stock Purchase Plan [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 5,000,000 | |||
Percentage of common stock closing price for DESPP purchase price | 85.00% | |||
Shares issued under DESPP | 191,000 | 141,000 | 169,000 | |
Proceeds from Issuance of Shares under Incentive and Share-based Compensation Plans, Excluding Stock Options | $6 | $5 | $4 | |
Minimum [Member] | Performance Based Restricted Stock Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award Vesting Period | 3 | |||
Minimum [Member] | Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award Vesting Period | 1 | |||
Minimum [Member] | Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award Vesting Period | 3 | |||
Stock option expiration term (years) | 3 | |||
Maximum [Member] | Performance Based Restricted Stock Units [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award Vesting Period | 4 | |||
Maximum [Member] | Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award Vesting Period | 4 | |||
Maximum [Member] | Stock Options [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award Vesting Period | 4 | |||
Stock option expiration term (years) | 10 |
EquityBased_Compensation_Equit
Equity-Based Compensation (Equity-Based Compensation Expense) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total equity-based compensation expense | $78 | $190 | $154 |
Tax benefit recognized | 27 | 51 | 45 |
SARs [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total equity-based compensation expense | -11 | 63 | 21 |
Unit Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total equity-based compensation expense | 5 | 60 | 68 |
PRSUs And RSUs [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total equity-based compensation expense | 60 | 41 | 36 |
Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total equity-based compensation expense | 23 | 25 | 29 |
Employee Stock Purchase Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total equity-based compensation expense | $1 | $1 | $0 |
EquityBased_Compensation_PRSUs
Equity-Based Compensation (PRSUs And RSUs) (Details) (PRSUs And RSUs [Member], USD $) | 12 Months Ended |
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2014 |
PRSUs And RSUs [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Outstanding, Beginning of Period | 4.8 |
Granted | 3.3 |
Converted | -1.4 |
Forfeited | -0.2 |
Outstanding, End of Period | 6.5 |
Vested and expected to vest as of end of period | 6.2 |
Outstanding as of beginning of period, Weighted-Average Grant Price | $23 |
Granted, Weighted-Average Grant Price | $41.51 |
Converted, Weighted-Average Grant Price | $19.49 |
Forfeited, Weighted-Average Grant Price | $37.46 |
Outstanding as of end of period, Weighted-average grant price | $32.71 |
Vested and expected to vest as of end of period, Weighted-Average Grant Price | $32.54 |
Outstanding as of end of period, Weighted-Average Remaining Contractual Term (years) | 314 days |
Vested and expected to vest as of end of period, Weighted-Average Remaining Contractual Term (years) | 292 days |
Converted, Aggregate Fair Value | $59 |
Outstanding as of end of period, Aggregate Fair Value | 220 |
Vested and expected to vest as of end of period, Aggregate Fair Value | $212 |
EquityBased_Compensation_Stock
Equity-Based Compensation (Stock Options) (Details) (Stock Options [Member], USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Outstanding as of beginning of period | 15.2 | ||
Granted, Stock Options | 2.2 | ||
Exercised, Stock Options | -2.4 | ||
Forfeited, Stock Options | -0.3 | ||
Outstanding as of end of period | 14.7 | 15.2 | |
Vested and expected to vest as of beginning of period | 14.3 | ||
Exercisable as of end of period | 10.4 | ||
Outstanding as of beginning of period, Weighted-Average Grant Price | $18.23 | ||
Granted, Weighted-Average Grant Price | $40.85 | ||
Exercised, Weighted-Average Grant Price | $14.04 | ||
Forfeited, Weighted-Average Grant Price | $30.89 | ||
Outstanding as of end of period, Weighted-Average Grant Price | $22.01 | $18.23 | |
Vested and expected to vest, Weighted Average Exercise Price | $21.63 | ||
Exercisable as of end of period, Weighted-Average Grant Price | $16.85 | ||
Outstanding as of end of period, Weighted-Average Remaining Contractual Term (years) | 3 years 325 days | ||
Vested and expected to vest as of end of period, Weighted-Average Remaining Contractual Term (years) | 3 years 332 days | ||
Exercisable as of end of period, Weighted-Average Remaining Contractual Term (years) | 3 years 139 days | ||
Exercised, Aggregate Intrinsic Value | $63 | $130 | $148 |
Outstanding as of end of period, Aggregate Intrinsic Value | 202 | ||
Vested and expected to vest as of end of period, Aggregate Intrinsic Value | 197 | ||
Exercisable as of end of period, Aggregate Intrinsic Value | $187 |
EquityBased_Compensation_Weigh
Equity-Based Compensation (Weighted-Average Assumptions Used to Determine Fair Value, Stock Options) (Details) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Dividend yield | 0.00% | ||
Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk-free interest rate | 1.53% | 0.79% | 1.02% |
Expected term (years) | 4 years 354 days | 4 years 354 days | 4 years 354 days |
Expected volatility | 26.20% | 35.97% | 38.33% |
Dividend yield | 0.00% | 0.00% | 0.00% |
EquityBased_Compensation_Unit_
Equity-Based Compensation (Unit Awards) (Details) (Unit Awards [Member], USD $) | 12 Months Ended |
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2014 |
Unit Awards [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Outstanding, Beginning of Period | 3.3 |
Settled | -2.1 |
Outstanding, End of Period | 1.2 |
Vested and expected to vest as of end of period | 1.2 |
Outstanding as of beginning of period, Weighted-Average Grant Price | $19.23 |
Settled, Weighted-Average Grant Price | $18.48 |
Outstanding as of end of period, Weighted-average grant price | $20.59 |
Vested and expected to vest as of end of period, Weighted-Average Grant Price | $20.59 |
Outstanding as of end of period, Weighted-Average Remaining Contractual Term (years) | 4 days |
Vested and expected to vest as of end of period, Weighted-Average Remaining Contractual Term (years) | 4 days |
Settled, Aggregate Intrinsic Value | $52 |
Outstanding as of end of period, Aggregate Intrinsic Value | 16 |
Vested and expected to vest as of end of period, Aggregate Intrinsic Value | $16 |
EquityBased_Compensation_SARs_
Equity-Based Compensation (SARs) (Details) (SARs [Member], USD $) | 12 Months Ended |
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2014 |
SARs [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Outstanding, Beginning of Period | 6.4 |
Granted | 7.5 |
Settled | -1.8 |
Outstanding, End of Period | 12.1 |
Vested and expected to vest as of end of period | 12.1 |
Outstanding as of beginning of period, Weighted-Average Grant Price | $27.60 |
Granted, Weighted-Average Grant Price | $43.23 |
Settled, Weighted-Average Grant Price | $26.78 |
Outstanding as of end of period, Weighted-average grant price | $37.38 |
Vested and expected to vest as of end of period, Weighted-Average Grant Price | $37.38 |
Outstanding as of end of period, Weighted-Average Remaining Contractual Term (years) | 1 year 109 days |
Vested and expected to vest as of end of period, Weighted-Average Remaining Contractual Term (years) | 1 year 106 days |
Settled, Aggregate Intrinsic Value | $29 |
Outstanding as of end of period, Aggregate Intrinsic Value | 29 |
Vested and expected to vest as of end of period, Aggregate Fair Value | $29 |
EquityBased_Compensation_Weigh1
Equity-Based Compensation (Weighted-Average Assumptions Used to Determine Fair Value, SARs) (Details) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Dividend yield | 0.00% | ||
SARs [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Risk-free interest rate | 0.59% | 0.45% | 0.29% |
Expected term (years) | 1 year 110 days | 504 days | 595 days |
Expected volatility | 27.72% | 22.77% | 26.31% |
Dividend yield | 0.00% | 0.00% | 0.00% |
Retirement_Savings_Plans_Detai
Retirement Savings Plans (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Compensation and Retirement Disclosure [Abstract] | |||
Employer matching contributions | $33 | $28 | $16 |
Maximum percentage of compensation to SRP | 50.00% |
Restructuring_And_Other_Charge2
Restructuring And Other Charges (Restructuring And Other Charges, By Reporting Segment) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Restructuring Cost and Reserve [Line Items] | |||
Total restructuring and other charges | $90 | $16 | $6 |
U.S. Networks [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Total restructuring and other charges | 61 | 4 | 3 |
International Networks [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Total restructuring and other charges | 24 | 11 | 1 |
Education And Other [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Total restructuring and other charges | 3 | 0 | 0 |
Corporate [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Total restructuring and other charges | $2 | $1 | $2 |
Restructuring_And_Other_Charge3
Restructuring And Other Charges (Total Restructuring And Other Charges) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Restructuring and Related Activities [Abstract] | |||
Restructuring and other charges | $35 | $16 | $6 |
Other charges | 55 | 0 | 0 |
Total restructuring and other charges | $90 | $16 | $6 |
Restructuring_And_Other_Charge4
Restructuring And Other Charges (Restructuring And Other Liabilities) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and other liabilities, Beginning Balance | $7 | $6 | $9 |
Restructuring and other charges, net accruals | 35 | 16 | 6 |
Restructuring and other charges, cash paid | -23 | -15 | -9 |
Restructuring and other liabilities, Beginning Balance, Ending Balance | 19 | 7 | 6 |
Contract Termination Costs [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and other liabilities, Beginning Balance | 2 | 3 | 4 |
Restructuring and other charges, net accruals | 3 | 0 | 1 |
Restructuring and other charges, cash paid | -1 | -1 | -2 |
Restructuring and other liabilities, Beginning Balance, Ending Balance | 4 | 2 | 3 |
Employee Relocation/Terminations [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and other liabilities, Beginning Balance | 5 | 3 | 5 |
Restructuring and other charges, net accruals | 32 | 16 | 5 |
Restructuring and other charges, cash paid | -22 | -14 | -7 |
Restructuring and other liabilities, Beginning Balance, Ending Balance | $15 | $5 | $3 |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2015 |
Undistributed foreign earnings | $329 | |||
Federal statutory tax rate | 35.00% | 35.00% | 35.00% | |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | 176 | 131 | 109 | |
Accrued interest and penalties on unrecognized tax benefits | 17 | 11 | 9 | |
Forecast [Member] | ||||
Unrecognized tax benefits related to tax positions could decrease in next twelve months | $80 |
Income_Taxes_Schedule_Of_Compo
Income Taxes (Schedule Of Components Of Income From Continuing Operations Before Income Taxes) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Disclosure [Abstract] | |||
Domestic | $1,251 | $1,104 | $869 |
Foreign | 496 | 632 | 649 |
Income from continuing operations before income taxes | $1,747 | $1,736 | $1,518 |
Income_Taxes_Schedule_Of_Compo1
Income Taxes (Schedule Of Components Of Provision For Income Taxes) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Disclosure [Abstract] | |||
Federal current | $529 | $333 | $419 |
State and local taxes, current | 64 | 68 | 95 |
Foreign current | 198 | 175 | 118 |
Current income tax expense | 791 | 576 | 632 |
Federal deferred | -112 | 113 | -69 |
State and local taxes deferred | -16 | -2 | 9 |
Foreign deferred | -53 | -28 | -10 |
Deferred income tax expense (benefit) | -181 | 83 | -70 |
Provision for income taxes | $610 | $659 | $562 |
Income_Taxes_Schedule_Of_Effec
Income Taxes (Schedule Of Effective Tax Rate Reconciliation) (Details) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Income Tax Disclosure [Abstract] | |||
U.S. federal statutory income tax rate | 35.00% | 35.00% | 35.00% |
State and local income taxes, net of federal income taxes | 2.00% | 3.00% | 5.00% |
Effect of foreign operations | 2.00% | 2.00% | -1.00% |
Domestic production activity deductions | -3.00% | -2.00% | -3.00% |
Change in uncertain tax positions | -1.00% | 0.00% | 0.00% |
Remeasurement gain on previously held equity interest | 0.00% | -2.00% | 0.00% |
Other, net | 0.00% | 2.00% | 1.00% |
Effective income tax rate | 35.00% | 38.00% | 37.00% |
Income_Taxes_Components_Of_Def
Income Taxes (Components Of Deferred Tax Assets And Liabilities) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Income Tax Disclosure [Abstract] | ||
Accounts receivable | $3 | $3 |
Tax attribute carry-forward | 30 | 126 |
Unrealized loss on derivatives, investments and foreign currency translation adjustments | -16 | 2 |
Accrued liabilities and other | 243 | 202 |
Total deferred income tax assets | 260 | 333 |
Valuation allowance | -13 | -18 |
Net deferred income tax assets | 247 | 315 |
Intangible assets | -521 | -421 |
Content rights | -140 | -280 |
Equity method investments | -64 | -131 |
Notes receivable | -8 | -16 |
Other | -15 | -31 |
Total deferred income tax liabilities | -748 | -879 |
Deferred Tax Liabilities, Net | ($501) | ($564) |
Income_Taxes_Schedule_Of_Defer
Income Taxes (Schedule Of Deferred Income Tax Assets And Liabilities In Statement Of Financial Position) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Income Tax Disclosure [Abstract] | ||
Deferred income tax assets | $87 | $73 |
Deferred income tax liabilities | -588 | -637 |
Deferred Tax Liabilities, Net | ($501) | ($564) |
Income_Taxes_Income_Taxes_Sche
Income Taxes Income Taxes (Schedule of Operating Loss Carryforwards) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | |
Operating Loss Carryforwards [Line Items] | |||
Valuation Allowance, Amount | -13 | ($18) | |
Federal [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Operating Loss Carryforwards | 8 | [1] | |
Deferred Tax Assets, Tax Deferred Expense, Other | 3 | [1] | |
Valuation Allowance, Amount | 0 | [1] | |
State [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Operating Loss Carryforwards | 603 | ||
Deferred Tax Assets, Tax Deferred Expense, Other | 11 | ||
Valuation Allowance, Amount | -9 | ||
Foreign [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Operating Loss Carryforwards | 39 | ||
Deferred Tax Assets, Tax Deferred Expense, Other | 8 | ||
Valuation Allowance, Amount | -4 | ||
Minimum [Member] | Federal [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Operating Loss Carryforwards, Expiration Dates | 1-Jan-28 | [1] | |
Minimum [Member] | State [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Operating Loss Carryforwards, Expiration Dates | 1-Jan-15 | ||
Minimum [Member] | Foreign [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Operating Loss Carryforwards, Expiration Dates | 1-Jan-15 | ||
[1] | (a) The use of the federal operating loss carry-forwards is subject to annual limitations. |
Income_Taxes_Schedule_Of_Unrec
Income Taxes (Schedule Of Unrecognized Tax Benefits Reconciliation) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income Tax Disclosure [Abstract] | |||
Beginning balance, unrecognized tax benefits | $185 | $128 | $46 |
Additions based on tax positions related to the current year | 40 | 25 | 48 |
Additions for tax positions of prior years | 82 | 36 | 39 |
Unrecognized Tax Benefits, Increases Resulting from Acquisition | 6 | 9 | 0 |
Reductions for tax positions of prior years | -129 | -8 | -4 |
Settlements | 0 | -3 | -1 |
Reductions as result of statute lapse | -8 | -2 | 0 |
Ending balance, unrecognized tax benefits | $176 | $185 | $128 |
Earnings_Per_Share_Earnings_Pe
Earnings Per Share Earnings Per Share (Narrative) (Details) | Aug. 06, 2014 | Jun. 30, 2014 |
Earnings Per Share [Abstract] | ||
Convertible Preferred Stock, Shares Issued upon Conversion | 2 | 1 |
Earnings_Per_Share_Schedule_Of
Earnings Per Share (Schedule Of Basic Income Available To Series A, B and C Common and Series C Convertible Preferred Stockholders) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income from continuing operations, net of taxes | $1,137 | $1,077 | $956 |
Net income attributable to nonredeemable noncontrolling interests | -2 | -1 | -2 |
Net loss (income) attributable to redeemable noncontrolling interests | 4 | -1 | 0 |
Redeemable noncontrolling interest adjustments to redemption value | -1 | -2 | 0 |
Loss from discontinued operations available to Discovery Communications, Inc. stockholders, net of taxes | 0 | 0 | -11 |
Continuing Operations [Member] | |||
Allocation of undistributed income to Series A convertible preferred stock | -236 | -212 | -179 |
Discontinued Operations [Member] | |||
Allocation of undistributed income to Series A convertible preferred stock | 0 | 0 | 2 |
Series A, B and C Common and Series C Convertible Preferred Stock [Member] | |||
Income from continuing operations available to Discovery Communications, Inc. stockholders, net of taxes | 902 | 861 | 775 |
Loss from discontinued operations available to Discovery Communications, Inc. stockholders, net of taxes | 0 | 0 | -9 |
Net income available to Discovery Communications, Inc. stockholders, net of taxes | $902 | $861 | $766 |
Earnings_Per_Share_Schedule_Of1
Earnings Per Share (Schedule Of Allocations Of Basic Income To Series A, B and C Common and Series C Convertible Preferred Stockholders) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Loss from discontinued operations available to Discovery Communications, Inc. stockholders, net of taxes | $0 | $0 | ($11) |
Series A, B and C Common Stock [Member] | |||
Income from continuing operations available to Discovery Communications, Inc. stockholders, net of taxes | 758 | 727 | 631 |
Loss from discontinued operations available to Discovery Communications, Inc. stockholders, net of taxes | 0 | 0 | -7 |
Net income available to Discovery Communications, Inc. stockholders, net of taxes | 758 | 727 | 624 |
Series C Convertible Preferred Stock [Member] | |||
Income from continuing operations available to Discovery Communications, Inc. stockholders, net of taxes | 144 | 134 | 144 |
Loss from discontinued operations available to Discovery Communications, Inc. stockholders, net of taxes | 0 | 0 | -2 |
Net income available to Discovery Communications, Inc. stockholders, net of taxes | 144 | 134 | 142 |
Series A, B and C Common and Series C Convertible Preferred Stock [Member] | |||
Income from continuing operations available to Discovery Communications, Inc. stockholders, net of taxes | 902 | 861 | 775 |
Loss from discontinued operations available to Discovery Communications, Inc. stockholders, net of taxes | 0 | 0 | -9 |
Net income available to Discovery Communications, Inc. stockholders, net of taxes | $902 | $861 | $766 |
Earnings_Per_Share_Schedule_Of2
Earnings Per Share (Schedule Of Diluted Income Available To Series A, B and C Common Stockholders) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Income from continuing operations, net of taxes | $1,137 | $1,077 | $956 |
Net income attributable to nonredeemable noncontrolling interests | -2 | -1 | -2 |
Net loss (income) attributable to redeemable noncontrolling interests | 4 | -1 | 0 |
Redeemable noncontrolling interest adjustments to redemption value | -1 | -2 | 0 |
Loss from discontinued operations available to Discovery Communications, Inc. stockholders, net of taxes | 0 | 0 | -11 |
Series A, B and C Common Stock, Diluted [Member] | |||
Income from continuing operations available to Discovery Communications, Inc. stockholders, net of taxes | 1,138 | 1,073 | 954 |
Loss from discontinued operations available to Discovery Communications, Inc. stockholders, net of taxes | 0 | 0 | -11 |
Net income available to Discovery Communications, Inc. stockholders, net of taxes, diluted | $1,138 | $1,073 | $943 |
Earnings_Per_Share_Schedule_Of3
Earnings Per Share (Schedule Of Diluted Income Available To Series C Convertible Preferred Stockholders) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Loss from discontinued operations available to Discovery Communications, Inc. stockholders, net of taxes | $0 | $0 | ($11) |
Series C Preferred Stock, Diluted [Member] | |||
Income from continuing operations available to Discovery Communications, Inc. stockholders, net of taxes | 143 | 133 | 143 |
Loss from discontinued operations available to Discovery Communications, Inc. stockholders, net of taxes | 0 | 0 | -2 |
Net income available to Discovery Communications, Inc. stockholders, net of taxes, diluted | $143 | $133 | $141 |
Earnings_Per_Share_Schedule_Of4
Earnings Per Share (Schedule Of Weighted Average Basic And Diluted Shares Outstanding) (Details) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Series A, B and C Common Stock [Member] | |||
Weighted average number of shares outstanding, basic | 454 | 484 | 498 |
Weighted average impact of assumed preferred stock conversion | 227 | 231 | 254 |
Weighted average dilutive effect of equity awards | 6 | 7 | 7 |
Weighted average number of shares outstanding, diluted | 687 | 722 | 759 |
Series C Convertible Preferred Stock [Member] | |||
Weighted average number of shares outstanding, basic | 43 | 45 | 57 |
Recovered_Sheet1
Earnings Per Share (Schedule of Earnings Per Share) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||||||||
Basic earnings per share available to Discovery Communications, Inc. stockholders | |||||||||||||||||||
Net income | $0.38 | [1] | $0.41 | [1] | $0.55 | [1] | $0.33 | [1] | $0.41 | [1] | $0.36 | [1] | $0.41 | [1] | $0.32 | [1] | |||
Diluted earnings per share available to Discovery Communications, Inc. stockholders | |||||||||||||||||||
Net income | $0.38 | [1] | $0.41 | [1] | $0.54 | [1] | $0.33 | [1] | $0.41 | [1] | $0.35 | [1] | $0.41 | [1] | $0.32 | [1] | |||
Series A, B and C Common Stock [Member] | |||||||||||||||||||
Basic earnings per share available to Discovery Communications, Inc. stockholders | |||||||||||||||||||
Continuing operations | $1.67 | $1.50 | $1.27 | ||||||||||||||||
Discontinued operations | $0 | $0 | ($0.01) | ||||||||||||||||
Net income | $1.67 | $1.50 | $1.25 | ||||||||||||||||
Diluted earnings per share available to Discovery Communications, Inc. stockholders | |||||||||||||||||||
Continuing operations | $1.66 | $1.49 | $1.26 | ||||||||||||||||
Discontinued operations | $0 | $0 | ($0.01) | ||||||||||||||||
Net income | $1.66 | $1.49 | $1.24 | ||||||||||||||||
Series C Convertible Preferred Stock [Member] | |||||||||||||||||||
Basic earnings per share available to Discovery Communications, Inc. stockholders | |||||||||||||||||||
Continuing operations | $3.34 | $3 | $2.54 | ||||||||||||||||
Discontinued operations | $0 | $0 | ($0.02) | ||||||||||||||||
Net income | $3.34 | $3 | $2.50 | ||||||||||||||||
Diluted earnings per share available to Discovery Communications, Inc. stockholders | |||||||||||||||||||
Continuing operations | $3.32 | $2.98 | $2.52 | ||||||||||||||||
Discontinued operations | $0 | $0 | ($0.02) | ||||||||||||||||
Net income | $3.32 | $2.98 | $2.48 | ||||||||||||||||
[1] | (c) Per share data for earnings per share has been retroactively adjusted to give effect to the 2-for-1 split of the Companybs common stock on AugustB 6, 2014. (See Note 18.) |
Recovered_Sheet2
Earnings Per Share (Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share) (Details) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Stock Options and RSU [Member] [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Anti-dilutive securities excluded from computation of earnings per share, amount | 4 | 2 | 0 |
Performance Based Restricted Stock Units [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Anti-dilutive securities excluded from computation of earnings per share, amount | 3 | 2 | 4 |
Supplemental_Disclosures_Valua
Supplemental Disclosures (Valuation And Qualifying Accounts) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Allowance For Doubtful Accounts [Member] | |||
Beginning of Year | $16 | $12 | $12 |
Additions | 28 | 6 | 4 |
Write-offs | -5 | -2 | -4 |
Utilization | 0 | 0 | 0 |
End of Year | 39 | 16 | 12 |
Deferred Tax Valuation Allowance [Member] | |||
Beginning of Year | 18 | 23 | 24 |
Additions | 1 | 7 | 8 |
Write-offs | -5 | -11 | -9 |
Utilization | -1 | -1 | 0 |
End of Year | $13 | $18 | $23 |
Supplemental_Disclosures_Sched
Supplemental Disclosures (Schedule Of Accrued Liabilities) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Disclosure Text Block Supplement [Abstract] | ||
Accrued payroll and related benefits | $441 | $373 |
Content rights payable | 198 | 212 |
Current portion of equity-based compensation liabilities | 32 | 85 |
Accrued Interest | 50 | 43 |
Accrued income taxes | 120 | 71 |
Other accrued liabilities | 253 | 208 |
Total accrued liabilities | $1,094 | $992 |
Supplemental_Disclosures_Sched1
Supplemental Disclosures (Schedule Of Other (Expense) Income, Net) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Disclosure Text Block Supplement [Abstract] | |||
Foreign Currency Transaction Gain (Loss), before Tax | ($22) | $23 | ($4) |
Remeasurement gain on previously held equity interests | 29 | 92 | 0 |
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | 1 | -56 | -2 |
Other, net | -17 | -10 | -1 |
Other income (expense), net | ($9) | $49 | ($7) |
Supplemental_Disclosures_Sched2
Supplemental Disclosures (Schedule of Equity-Based Compensation Financing Activities) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Supplemental Cash Flow Elements [Abstract] | |||
Tax settlements associated with equity-based plans | ($27) | ($22) | ($3) |
Cash proceeds from equity-based plans, net | 41 | 51 | 84 |
Excess tax benefits from stock-based compensation | 30 | 44 | 38 |
Proceeds from equity-based plans, net | $44 | $73 | $119 |
Related_Party_Transactions_Nar
Related Party Transactions (Narrative) (Details) | Dec. 31, 2014 | Sep. 23, 2014 |
Board of Directors Chairman [Member] | Liberty Global [Member] | ||
Related Party Transaction [Line Items] | ||
Aggregate equity voting power percentage | 28.00% | |
Board of Directors Chairman [Member] | Liberty Media [Member] | ||
Related Party Transaction [Line Items] | ||
Aggregate equity voting power percentage | 46.00% | |
All3Media [Member] | ||
Related Party Transaction [Line Items] | ||
Equity Method Investment, Ownership Percentage | 50.00% |
Related_Party_Transactions_Sch
Related Party Transactions (Schedule of Related Party Transactions, Revenue) (Details) (USD $) | 12 Months Ended | |||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||
Related Party Transaction [Line Items] | ||||||
Related Party Transaction, Revenues from Transactions with Related Party | $295 | $223 | $155 | |||
Related Party Transaction, Expenses from Transactions with Related Party | -37 | -27 | -22 | |||
Liberty Group [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Related Party Transaction, Revenues from Transactions with Related Party | 157 | [1] | 120 | [1] | 54 | [1] |
Equity Method Investments [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Related Party Transaction, Revenues from Transactions with Related Party | 104 | 75 | 94 | |||
Interest Income | 33 | [2] | 35 | [2] | 29 | [2] |
Other Related Parties [Member] | ||||||
Related Party Transaction [Line Items] | ||||||
Related Party Transaction, Revenues from Transactions with Related Party | $34 | $28 | $7 | |||
[1] | (a) The 2013 increase in revenue from transactions with the Liberty Group is primarily attributable to activity with Charter Communications, Inc. ("Charter") and Virgin Media, Inc. ("Virgin Media"). In May 2013, Liberty Media completed its equity method investment in Charter; Mr. Malone is on Charter's board of directors. In June 2013, Liberty Global announced it had completed its acquisition of Virgin Media. Transactions with Charter and Virgin Media have been reported as related party transactions since the date that they became related parties. | |||||
[2] | (b) The Company records interest earnings from loans to equity method investees as a component of income (loss) from equity method investees, net, in the consolidated statements of operations. (See Note 4.) |
Related_Party_Schedule_of_Rela
Related Party (Schedule of Related Party Transactions Receivables) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Related Party Transaction [Line Items] | ||
Due from Related Parties, Current | $42 | $41 |
OWN Joint Venture [Member] | ||
Related Party Transaction [Line Items] | ||
Variable Interest Entity, Funded Notes Receivable | $457 | $483 |
Commitments_And_Contingencies_1
Commitments And Contingencies (Narrative) (Details) (USD $) | 12 Months Ended | 27 Months Ended | ||||
Dec. 31, 2022 | Sep. 30, 2016 | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 23, 2014 | 30-May-14 | |
Commitments and Contingencies [Line Items] | ||||||
Put right obligations | $0 | $0 | ||||
Redeemable noncontrolling interests | 747,000,000 | 36,000,000 | ||||
TF1 put right | 4,000,000 | 20,000,000 | ||||
Future Funding Commitment to Equity Method Investees | 11,000,000 | |||||
Material amounts for indemnifications or other contingencies | 0 | 0 | ||||
Loss Contingency Accrual, at Carrying Value | 0 | 0 | ||||
Hub [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Redeemable noncontrolling interests | 238,000,000 | |||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 40.00% | |||||
Hub [Member] | Forecast [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Derivative, Term of Contract | 1 year 0 months | |||||
Eurosport International [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Redeemable noncontrolling interests | 558,000,000 | |||||
TF1 put right | -27,000,000 | |||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 49.00% | |||||
Eurosport International [Member] | Forecast [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
Derivative, Term of Contract | 2 years 6 months | |||||
Level 3 [Member] | ||||||
Commitments and Contingencies [Line Items] | ||||||
TF1 put right | $4,000,000 | $20,000,000 |
Commitments_And_Contingencies_2
Commitments And Contingencies (Schedule Of Significant Contractual Commitments) (Details) (USD $) | Dec. 31, 2014 |
In Millions, unless otherwise specified | |
2015 | $1,170 |
2016 | 643 |
2017 | 489 |
2018 | 338 |
2019 | 233 |
Thereafter | 535 |
Total minimum payments | 3,408 |
Less amounts representing interest | -64 |
Total | 3,344 |
Operating Lease [Member] | |
2015 | 77 |
2016 | 71 |
2017 | 61 |
2018 | 55 |
2019 | 40 |
Thereafter | 99 |
Operating Leases, Future Minimum Payments Due | 403 |
Less amounts representing interest | 0 |
Total | 403 |
Capital Lease [Member] | |
2015 | 44 |
2016 | 35 |
2017 | 31 |
2018 | 19 |
2019 | 18 |
Thereafter | 104 |
Capital Leases, Future Minimum Payments Due | 251 |
Less amounts representing interest | -64 |
Total | 187 |
Content [Member] | |
2015 | 735 |
2016 | 318 |
2017 | 197 |
2018 | 105 |
2019 | 75 |
Thereafter | 100 |
Total minimum payments | 1,530 |
Less amounts representing interest | 0 |
Total | 1,530 |
Other Credit Derivatives [Member] | |
2015 | 314 |
2016 | 219 |
2017 | 200 |
2018 | 159 |
2019 | 100 |
Thereafter | 232 |
Total minimum payments | 1,224 |
Less amounts representing interest | 0 |
Total | $1,224 |
Reportable_Segments_Schedule_O
Reportable Segments (Schedule Of Revenues By Segment) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||||
Segment Reporting Information [Line Items] | ||||||||||||||||
Total revenues | $1,676 | [1] | $1,568 | [1] | $1,610 | $1,411 | $1,537 | [2] | $1,375 | [2] | $1,467 | [2] | $1,156 | $6,265 | $5,535 | $4,487 |
U.S. Networks [Member] | ||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||
Revenues by Segment | 2,950 | 2,947 | 2,746 | |||||||||||||
International Networks [Member] | ||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||
Revenues by Segment | 3,157 | 2,459 | 1,618 | |||||||||||||
Education And Other [Member] | ||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||
Revenues by Segment | 160 | 140 | 128 | |||||||||||||
Corporate And Inter-Segment Eliminations [Member] | ||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||
Revenues by Segment | ($2) | ($11) | ($5) | |||||||||||||
[1] | (a) On September 23, 2014, the Company acquired an additional 10% ownership interest in Discovery Family and, as a result, the accounting for Discovery Family was changed from an equity method investment to a consolidated subsidiary. On May 30, 2014, the Company acquired a controlling interest in Eurosport and, as a result, the accounting for Eurosport was changed from an equity method investment to a consolidated subsidiary. (See Note 3.) | |||||||||||||||
[2] | (b)On April 9, 2013, the Company acquired SBS Nordic. The Company included the operations of this acquisition in the Company's consolidated financial statements as of the acquisition date. (See Note 3.) |
Reportable_Segments_Schedule_O1
Reportable Segments (Schedule Of Adjusted OIBDA By Segment) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Segment Reporting Information [Line Items] | |||
Total Adjusted OIBDA | $2,491 | $2,402 | $2,099 |
U.S. Networks [Member] | |||
Segment Reporting Information [Line Items] | |||
Total Adjusted OIBDA | 1,680 | 1,712 | 1,628 |
International Networks [Member] | |||
Segment Reporting Information [Line Items] | |||
Total Adjusted OIBDA | 1,124 | 949 | 727 |
Education And Other [Member] | |||
Segment Reporting Information [Line Items] | |||
Total Adjusted OIBDA | 6 | 30 | 19 |
Corporate And Inter-Segment Eliminations [Member] | |||
Segment Reporting Information [Line Items] | |||
Total Adjusted OIBDA | ($319) | ($289) | ($275) |
Reportable_Segments_Schedule_O2
Reportable Segments (Schedule Of Reconciliation Of Adjusted OIDBA To Operating Income) (Details) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||||
In Millions, unless otherwise specified | 30-May-14 | Jul. 16, 2013 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||||
Segment Reporting Information [Line Items] | ||||||||||||||||||
Interest Expense, Debt | $328 | $306 | $248 | |||||||||||||||
Income (loss) from equity investees, net | 23 | 18 | -86 | |||||||||||||||
Other (expense) income, net | -9 | 49 | -7 | |||||||||||||||
Income from continuing operations before income taxes | 1,747 | 1,736 | 1,518 | |||||||||||||||
Total Adjusted OIBDA | 2,491 | 2,402 | 2,099 | |||||||||||||||
Amortization of deferred launch incentives | -11 | -18 | -20 | |||||||||||||||
Mark-to-market stock-based compensation | -31 | -136 | -97 | |||||||||||||||
Depreciation and amortization | -329 | -276 | -117 | |||||||||||||||
Restructuring and impairment charges | -90 | -16 | -6 | |||||||||||||||
Gain on disposition | 31 | 19 | 31 | 19 | 0 | |||||||||||||
Operating income | $476 | [1] | $511 | [1] | $640 | $434 | $522 | [2] | $488 | [2] | $549 | [2] | $416 | $2,061 | $1,975 | $1,859 | ||
[1] | (a) On September 23, 2014, the Company acquired an additional 10% ownership interest in Discovery Family and, as a result, the accounting for Discovery Family was changed from an equity method investment to a consolidated subsidiary. On May 30, 2014, the Company acquired a controlling interest in Eurosport and, as a result, the accounting for Eurosport was changed from an equity method investment to a consolidated subsidiary. (See Note 3.) | |||||||||||||||||
[2] | (b)On April 9, 2013, the Company acquired SBS Nordic. The Company included the operations of this acquisition in the Company's consolidated financial statements as of the acquisition date. (See Note 3.) |
Reportable_Segments_Schedule_O3
Reportable Segments (Schedule Of Total Assets By Segment) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Segment Reporting Information [Line Items] | ||
Total assets | $16,014 | $14,979 |
U.S. Networks [Member] | ||
Segment Reporting Information [Line Items] | ||
Total assets | 3,315 | 2,976 |
International Networks [Member] | ||
Segment Reporting Information [Line Items] | ||
Total assets | 5,577 | 4,776 |
Education And Other [Member] | ||
Segment Reporting Information [Line Items] | ||
Total assets | 186 | 143 |
Corporate And Inter-Segment Eliminations [Member] | ||
Segment Reporting Information [Line Items] | ||
Total assets | $6,936 | $7,084 |
Reportable_Segments_Schedule_O4
Reportable Segments (Schedule Of Content Amortization And Impairment Expense By Segment) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Segment Reporting Information [Line Items] | |||
Total content amortization and impairment expense | $1,557 | $1,190 | $865 |
U.S. Networks [Member] | |||
Segment Reporting Information [Line Items] | |||
Total content amortization and impairment expense | 732 | 626 | 558 |
International Networks [Member] | |||
Segment Reporting Information [Line Items] | |||
Total content amortization and impairment expense | 826 | 564 | 302 |
Education And Other [Member] | |||
Segment Reporting Information [Line Items] | |||
Total content amortization and impairment expense | 4 | 3 | 2 |
Corporate And Inter-Segment Eliminations [Member] | |||
Segment Reporting Information [Line Items] | |||
Total content amortization and impairment expense | ($5) | ($3) | $3 |
Reportable_Segments_Schedule_O5
Reportable Segments (Schedule Of Revenues By Country) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||||
Segment Reporting Information [Line Items] | ||||||||||||||||
Total revenues | $1,676 | [1] | $1,568 | [1] | $1,610 | $1,411 | $1,537 | [2] | $1,375 | [2] | $1,467 | [2] | $1,156 | $6,265 | $5,535 | $4,487 |
United States [Member] | ||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||
Total revenues | 3,081 | 3,071 | 2,871 | |||||||||||||
Non-U.S [Member] | ||||||||||||||||
Segment Reporting Information [Line Items] | ||||||||||||||||
Total revenues | $3,184 | $2,464 | $1,616 | |||||||||||||
[1] | (a) On September 23, 2014, the Company acquired an additional 10% ownership interest in Discovery Family and, as a result, the accounting for Discovery Family was changed from an equity method investment to a consolidated subsidiary. On May 30, 2014, the Company acquired a controlling interest in Eurosport and, as a result, the accounting for Eurosport was changed from an equity method investment to a consolidated subsidiary. (See Note 3.) | |||||||||||||||
[2] | (b)On April 9, 2013, the Company acquired SBS Nordic. The Company included the operations of this acquisition in the Company's consolidated financial statements as of the acquisition date. (See Note 3.) |
Reportable_Segments_Schedule_O6
Reportable Segments (Schedule Of Property And Equipment By Country) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Segment Reporting Information [Line Items] | ||
Property and equipment, net | $554 | $514 |
United States [Member] | ||
Segment Reporting Information [Line Items] | ||
Property and equipment, net | 261 | 261 |
United Kingdom | ||
Segment Reporting Information [Line Items] | ||
Property and equipment, net | 152 | 115 |
Other Non U.S. | ||
Segment Reporting Information [Line Items] | ||
Property and equipment, net | $141 | $138 |
Selected_Quarterly_Financial_D2
Selected Quarterly Financial Data (Unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | ||||||||
Total revenues | $1,676 | [1] | $1,568 | [1] | $1,610 | $1,411 | $1,537 | [2] | $1,375 | [2] | $1,467 | [2] | $1,156 | $6,265 | $5,535 | $4,487 | |||
Operating income | 476 | [1] | 511 | [1] | 640 | 434 | 522 | [2] | 488 | [2] | 549 | [2] | 416 | 2,061 | 1,975 | 1,859 | |||
Net income | 235 | [1] | 287 | [1] | 384 | 231 | 290 | [2] | 256 | [2] | 300 | [2] | 231 | 1,137 | 1,077 | 945 | |||
Net income attributable to Discovery Communications, Inc. | $250 | [1] | $280 | [1] | $379 | $230 | $289 | [2] | $255 | [2] | $300 | [2] | $231 | $1,139 | $1,075 | $943 | |||
Basic earnings per share available to Discovery Communications, Inc. stockholders | |||||||||||||||||||
Net income | $0.38 | [3] | $0.41 | [3] | $0.55 | [3] | $0.33 | [3] | $0.41 | [3] | $0.36 | [3] | $0.41 | [3] | $0.32 | [3] | |||
Diluted earnings per share available to Discovery Communications, Inc. stockholders | |||||||||||||||||||
Net income | $0.38 | [3] | $0.41 | [3] | $0.54 | [3] | $0.33 | [3] | $0.41 | [3] | $0.35 | [3] | $0.41 | [3] | $0.32 | [3] | |||
[1] | (a) On September 23, 2014, the Company acquired an additional 10% ownership interest in Discovery Family and, as a result, the accounting for Discovery Family was changed from an equity method investment to a consolidated subsidiary. On May 30, 2014, the Company acquired a controlling interest in Eurosport and, as a result, the accounting for Eurosport was changed from an equity method investment to a consolidated subsidiary. (See Note 3.) | ||||||||||||||||||
[2] | (b)On April 9, 2013, the Company acquired SBS Nordic. The Company included the operations of this acquisition in the Company's consolidated financial statements as of the acquisition date. (See Note 3.) | ||||||||||||||||||
[3] | (c) Per share data for earnings per share has been retroactively adjusted to give effect to the 2-for-1 split of the Companybs common stock on AugustB 6, 2014. (See Note 18.) |
Condensed_Consolidating_Financ2
Condensed Consolidating Financial Statements (Narrative) (Details) | Dec. 31, 2014 |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Direct ownership percentage in Discovery Communications Holding, LLC | 33.30% |
Indirect ownership percentage in Discovery Communications Holding, LLC | 66.70% |
Condensed_Consolidating_Financ3
Condensed Consolidating Financial Statements (Condensed Consolidating Balance Sheet) (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | ||||
Cash and cash equivalents | $367 | $408 | $1,201 | $1,048 |
Receivables, net | 1,433 | 1,371 | ||
Content rights, net | 329 | 277 | ||
Deferred income taxes | 87 | 73 | ||
Prepaid expenses and other current assets | 275 | 281 | ||
Total current assets | 2,491 | 2,410 | ||
Noncurrent content rights, net | 1,973 | 1,883 | ||
Goodwill | 8,236 | 7,341 | 6,399 | |
Intangible Assets, net (Excluding Goodwill) | 1,971 | 1,565 | ||
Equity method investments | 644 | 1,087 | ||
Other noncurrent assets | 145 | 179 | ||
Total assets | 16,014 | 14,979 | ||
Current portion of debt | 1,107 | 17 | ||
Total current liabilities | 2,604 | 1,294 | ||
Noncurrent portion of debt | 6,046 | 6,482 | ||
Other noncurrent liabilities | 425 | 333 | ||
Total liabilities | 9,663 | 8,746 | ||
Redeemable noncontrolling interests | 747 | 36 | ||
Noncontrolling interests | 2 | 1 | ||
Total equity | 5,604 | 6,197 | 6,293 | 6,519 |
Total liabilities and equity | 16,014 | 14,979 | ||
Reclassifications and Eliminations [Member] | ||||
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Receivables, net | 0 | 0 | ||
Content rights, net | 0 | 0 | ||
Deferred income taxes | 0 | 0 | ||
Prepaid expenses and other current assets | 0 | 0 | ||
Intercompany Trade Receivables, Net | -151 | -286 | ||
Total current assets | -151 | -286 | ||
Investment in and advances to consolidated subsidiaries | -22,897 | -23,549 | ||
Noncurrent content rights, net | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Intangible Assets, net (Excluding Goodwill) | 0 | 0 | ||
Equity method investments | 0 | 0 | ||
Other noncurrent assets | -20 | -20 | ||
Total assets | -23,068 | -23,855 | ||
Current portion of debt | 0 | 0 | ||
Other current liabilities | 0 | 0 | ||
Intercompany Trade Payables, Net | -151 | -286 | ||
Total current liabilities | -151 | -286 | ||
Noncurrent portion of debt | 0 | 0 | ||
Other noncurrent liabilities | -20 | -20 | ||
Total liabilities | -171 | -306 | ||
Redeemable noncontrolling interests | 0 | 0 | ||
Equity attributable to Discovery Communications, Inc. | -22,899 | -23,549 | ||
Noncontrolling interests | 2 | 0 | ||
Total equity | -22,897 | -23,549 | ||
Total liabilities and equity | -23,068 | -23,855 | ||
Discovery [Member] | ||||
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Receivables, net | 0 | 0 | ||
Content rights, net | 0 | 0 | ||
Deferred income taxes | 0 | 0 | ||
Prepaid expenses and other current assets | 0 | 52 | ||
Intercompany Trade Receivables, Net | 0 | 0 | ||
Total current assets | 0 | 52 | ||
Investment in and advances to consolidated subsidiaries | 5,678 | 6,147 | ||
Noncurrent content rights, net | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Intangible Assets, net (Excluding Goodwill) | 0 | 0 | ||
Equity method investments | 0 | 0 | ||
Other noncurrent assets | 0 | 0 | ||
Total assets | 5,678 | 6,199 | ||
Current portion of debt | 0 | 0 | ||
Other current liabilities | 73 | 1 | ||
Intercompany Trade Payables, Net | 0 | 0 | ||
Total current liabilities | 73 | 1 | ||
Noncurrent portion of debt | 0 | 0 | ||
Other noncurrent liabilities | 3 | 2 | ||
Total liabilities | 76 | 3 | ||
Redeemable noncontrolling interests | 0 | 0 | ||
Equity attributable to Discovery Communications, Inc. | 5,602 | 6,196 | ||
Noncontrolling interests | 0 | 0 | ||
Total equity | 5,602 | 6,196 | ||
Total liabilities and equity | 5,678 | 6,199 | ||
DCH [Member] | ||||
Cash and cash equivalents | 0 | 0 | 0 | 0 |
Receivables, net | 0 | 0 | ||
Content rights, net | 0 | 0 | ||
Deferred income taxes | 0 | 0 | ||
Prepaid expenses and other current assets | 11 | 0 | ||
Intercompany Trade Receivables, Net | 0 | 0 | ||
Total current assets | 11 | 0 | ||
Investment in and advances to consolidated subsidiaries | 5,669 | 6,155 | ||
Noncurrent content rights, net | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Intangible Assets, net (Excluding Goodwill) | 0 | 0 | ||
Equity method investments | 0 | 0 | ||
Other noncurrent assets | 20 | 19 | ||
Total assets | 5,700 | 6,174 | ||
Current portion of debt | 0 | 0 | ||
Other current liabilities | 0 | 6 | ||
Intercompany Trade Payables, Net | 0 | 0 | ||
Total current liabilities | 0 | 6 | ||
Noncurrent portion of debt | 0 | 0 | ||
Other noncurrent liabilities | 0 | 0 | ||
Total liabilities | 0 | 6 | ||
Redeemable noncontrolling interests | 0 | 0 | ||
Equity attributable to Discovery Communications, Inc. | 5,700 | 6,168 | ||
Noncontrolling interests | 0 | 0 | ||
Total equity | 5,700 | 6,168 | ||
Total liabilities and equity | 5,700 | 6,174 | ||
DCL [Member] | ||||
Cash and cash equivalents | 8 | 123 | 1,022 | 964 |
Receivables, net | 416 | 449 | ||
Content rights, net | 8 | 12 | ||
Deferred income taxes | 40 | 31 | ||
Prepaid expenses and other current assets | 164 | 143 | ||
Intercompany Trade Receivables, Net | 151 | 286 | ||
Total current assets | 787 | 1,044 | ||
Investment in and advances to consolidated subsidiaries | 7,750 | 7,135 | ||
Noncurrent content rights, net | 613 | 615 | ||
Goodwill | 3,769 | 3,769 | ||
Intangible Assets, net (Excluding Goodwill) | 307 | 320 | ||
Equity method investments | 21 | 330 | ||
Other noncurrent assets | 150 | 173 | ||
Total assets | 13,397 | 13,386 | ||
Current portion of debt | 1,084 | 5 | ||
Other current liabilities | 433 | 421 | ||
Intercompany Trade Payables, Net | 0 | 0 | ||
Total current liabilities | 1,517 | 426 | ||
Noncurrent portion of debt | 5,868 | 6,343 | ||
Other noncurrent liabilities | 343 | 462 | ||
Total liabilities | 7,728 | 7,231 | ||
Redeemable noncontrolling interests | 0 | 0 | ||
Equity attributable to Discovery Communications, Inc. | 5,669 | 6,155 | ||
Noncontrolling interests | 0 | 0 | ||
Total equity | 5,669 | 6,155 | ||
Total liabilities and equity | 13,397 | 13,386 | ||
Non-Guarantor Subsidiaries Of DCL [Member] | ||||
Cash and cash equivalents | 359 | 285 | 179 | 83 |
Receivables, net | 1,017 | 922 | ||
Content rights, net | 321 | 265 | ||
Deferred income taxes | 47 | 42 | ||
Prepaid expenses and other current assets | 100 | 86 | ||
Intercompany Trade Receivables, Net | 0 | 0 | ||
Total current assets | 1,844 | 1,600 | ||
Investment in and advances to consolidated subsidiaries | 0 | 0 | ||
Noncurrent content rights, net | 1,360 | 1,268 | ||
Goodwill | 4,467 | 3,572 | ||
Intangible Assets, net (Excluding Goodwill) | 1,664 | 1,245 | ||
Equity method investments | 623 | 757 | ||
Other noncurrent assets | 549 | 521 | ||
Total assets | 10,507 | 8,963 | ||
Current portion of debt | 23 | 12 | ||
Other current liabilities | 991 | 849 | ||
Intercompany Trade Payables, Net | 151 | 286 | ||
Total current liabilities | 1,165 | 1,147 | ||
Noncurrent portion of debt | 178 | 139 | ||
Other noncurrent liabilities | 665 | 505 | ||
Total liabilities | 2,008 | 1,791 | ||
Redeemable noncontrolling interests | 747 | 36 | ||
Equity attributable to Discovery Communications, Inc. | 7,752 | 7,135 | ||
Noncontrolling interests | 0 | 1 | ||
Total equity | 7,752 | 7,136 | ||
Total liabilities and equity | 10,507 | 8,963 | ||
Other Non - Guarantor Subsidiaries Of Discovery [Member] | ||||
Cash and cash equivalents | 0 | 0 | 0 | 1 |
Receivables, net | 0 | 0 | ||
Content rights, net | 0 | 0 | ||
Deferred income taxes | 0 | 0 | ||
Prepaid expenses and other current assets | 0 | 0 | ||
Intercompany Trade Receivables, Net | 0 | 0 | ||
Total current assets | 0 | 0 | ||
Investment in and advances to consolidated subsidiaries | 3,800 | 4,112 | ||
Noncurrent content rights, net | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Intangible Assets, net (Excluding Goodwill) | 0 | 0 | ||
Equity method investments | 0 | 0 | ||
Other noncurrent assets | 0 | 0 | ||
Total assets | 3,800 | 4,112 | ||
Current portion of debt | 0 | 0 | ||
Other current liabilities | 0 | 0 | ||
Intercompany Trade Payables, Net | 0 | 0 | ||
Total current liabilities | 0 | 0 | ||
Noncurrent portion of debt | 0 | 0 | ||
Other noncurrent liabilities | 22 | 21 | ||
Total liabilities | 22 | 21 | ||
Redeemable noncontrolling interests | 0 | 0 | ||
Equity attributable to Discovery Communications, Inc. | 3,778 | 4,091 | ||
Noncontrolling interests | 0 | 0 | ||
Total equity | 3,778 | 4,091 | ||
Total liabilities and equity | 3,800 | 4,112 | ||
Discovery and Subsidiaries [Member] | ||||
Cash and cash equivalents | 367 | 408 | 1,201 | 1,048 |
Receivables, net | 1,433 | 1,371 | ||
Content rights, net | 329 | 277 | ||
Deferred income taxes | 87 | 73 | ||
Prepaid expenses and other current assets | 275 | 281 | ||
Intercompany Trade Receivables, Net | 0 | 0 | ||
Total current assets | 2,491 | 2,410 | ||
Investment in and advances to consolidated subsidiaries | 0 | 0 | ||
Noncurrent content rights, net | 1,973 | 1,883 | ||
Goodwill | 8,236 | 7,341 | ||
Intangible Assets, net (Excluding Goodwill) | 1,971 | 1,565 | ||
Equity method investments | 644 | 1,087 | ||
Other noncurrent assets | 699 | 693 | ||
Total assets | 16,014 | 14,979 | ||
Current portion of debt | 1,107 | 17 | ||
Other current liabilities | 1,497 | 1,277 | ||
Intercompany Trade Payables, Net | 0 | 0 | ||
Total current liabilities | 2,604 | 1,294 | ||
Noncurrent portion of debt | 6,046 | 6,482 | ||
Other noncurrent liabilities | 1,013 | 970 | ||
Total liabilities | 9,663 | 8,746 | ||
Redeemable noncontrolling interests | 747 | 36 | ||
Equity attributable to Discovery Communications, Inc. | 5,602 | 6,196 | ||
Noncontrolling interests | 2 | 1 | ||
Total equity | 5,604 | 6,197 | ||
Total liabilities and equity | $16,014 | $14,979 |
Condensed_Consolidating_Financ4
Condensed Consolidating Financial Statements (Condensed Consolidating Statement Of Operations) (Details) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | |||||||||||||||
In Millions, unless otherwise specified | 30-May-14 | Jul. 16, 2013 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||||
Revenues | $1,676 | [1] | $1,568 | [1] | $1,610 | $1,411 | $1,537 | [2] | $1,375 | [2] | $1,467 | [2] | $1,156 | $6,265 | $5,535 | $4,487 | ||
Costs of revenues, excluding depreciation and amortization | 2,124 | 1,689 | 1,218 | |||||||||||||||
Selling, general and administrative | 1,692 | 1,598 | 1,287 | |||||||||||||||
Depreciation and amortization | 329 | 276 | 117 | |||||||||||||||
Restructuring and other charges | 90 | 16 | 6 | |||||||||||||||
Gain on disposition | -31 | -19 | -31 | -19 | 0 | |||||||||||||
Total costs and expenses | 4,204 | 3,560 | 2,628 | |||||||||||||||
Operating (loss) income | 476 | [1] | 511 | [1] | 640 | 434 | 522 | [2] | 488 | [2] | 549 | [2] | 416 | 2,061 | 1,975 | 1,859 | ||
Interest expense | -328 | -306 | -248 | |||||||||||||||
Income (loss) from equity investees, net | 23 | 18 | -86 | |||||||||||||||
Other income (expense), net | -9 | 49 | -7 | |||||||||||||||
Income from continuing operations before income taxes | 1,747 | 1,736 | 1,518 | |||||||||||||||
Benefit from (provision for) income taxes | -610 | -659 | -562 | |||||||||||||||
Income from continuing operations, net of taxes | 1,137 | 1,077 | 956 | |||||||||||||||
Loss from discontinued operations, net of taxes | 0 | 0 | -11 | |||||||||||||||
Net income | 235 | [1] | 287 | [1] | 384 | 231 | 290 | [2] | 256 | [2] | 300 | [2] | 231 | 1,137 | 1,077 | 945 | ||
Net income attributable to nonredeemable noncontrolling interests | -2 | -1 | -2 | |||||||||||||||
Net loss (income) attributable to redeemable noncontrolling interests | 4 | -1 | 0 | |||||||||||||||
Net income attributable to Discovery Communications, Inc. | 250 | [1] | 280 | [1] | 379 | 230 | 289 | [2] | 255 | [2] | 300 | [2] | 231 | 1,139 | 1,075 | 943 | ||
Reclassifications and Eliminations [Member] | ||||||||||||||||||
Revenues | -2 | -10 | -13 | |||||||||||||||
Costs of revenues, excluding depreciation and amortization | -1 | -8 | -11 | |||||||||||||||
Selling, general and administrative | -1 | -2 | -2 | |||||||||||||||
Depreciation and amortization | 0 | 0 | 0 | |||||||||||||||
Restructuring and other charges | 0 | 0 | 0 | |||||||||||||||
Gain on disposition | 0 | 0 | ||||||||||||||||
Total costs and expenses | -2 | -10 | -13 | |||||||||||||||
Operating (loss) income | 0 | 0 | 0 | |||||||||||||||
Equity in earnings of subsidiaries | -3,622 | -3,511 | -2,993 | |||||||||||||||
Interest expense | 0 | 0 | 0 | |||||||||||||||
Income (loss) from equity investees, net | 0 | 0 | 0 | |||||||||||||||
Other income (expense), net | 0 | 0 | -17 | |||||||||||||||
Income from continuing operations before income taxes | -3,622 | -3,511 | -3,010 | |||||||||||||||
Benefit from (provision for) income taxes | 0 | 0 | 0 | |||||||||||||||
Income from continuing operations, net of taxes | -3,010 | |||||||||||||||||
Loss from discontinued operations, net of taxes | 17 | |||||||||||||||||
Net income | -3,622 | -3,511 | -2,993 | |||||||||||||||
Net income attributable to nonredeemable noncontrolling interests | -2 | -1 | -2 | |||||||||||||||
Net loss (income) attributable to redeemable noncontrolling interests | 4 | -1 | ||||||||||||||||
Net income attributable to Discovery Communications, Inc. | -3,620 | -3,513 | -2,995 | |||||||||||||||
Discovery [Member] | ||||||||||||||||||
Revenues | 0 | 0 | 0 | |||||||||||||||
Costs of revenues, excluding depreciation and amortization | 0 | 0 | 0 | |||||||||||||||
Selling, general and administrative | 15 | 15 | 13 | |||||||||||||||
Depreciation and amortization | 0 | 0 | 0 | |||||||||||||||
Restructuring and other charges | 0 | 0 | 0 | |||||||||||||||
Gain on disposition | 0 | 0 | ||||||||||||||||
Total costs and expenses | 15 | 15 | 13 | |||||||||||||||
Operating (loss) income | -15 | -15 | -13 | |||||||||||||||
Equity in earnings of subsidiaries | 1,148 | 1,084 | 939 | |||||||||||||||
Interest expense | 0 | 0 | 0 | |||||||||||||||
Income (loss) from equity investees, net | 0 | 0 | 0 | |||||||||||||||
Other income (expense), net | 0 | 0 | 13 | |||||||||||||||
Income from continuing operations before income taxes | 1,133 | 1,069 | 939 | |||||||||||||||
Benefit from (provision for) income taxes | 6 | 6 | 4 | |||||||||||||||
Income from continuing operations, net of taxes | 943 | |||||||||||||||||
Loss from discontinued operations, net of taxes | 0 | |||||||||||||||||
Net income | 1,139 | 1,075 | 943 | |||||||||||||||
Net income attributable to nonredeemable noncontrolling interests | 0 | 0 | 0 | |||||||||||||||
Net loss (income) attributable to redeemable noncontrolling interests | 0 | 0 | ||||||||||||||||
Net income attributable to Discovery Communications, Inc. | 1,139 | 1,075 | 943 | |||||||||||||||
DCH [Member] | ||||||||||||||||||
Revenues | 0 | 0 | 0 | |||||||||||||||
Costs of revenues, excluding depreciation and amortization | 0 | 0 | 0 | |||||||||||||||
Selling, general and administrative | 0 | 0 | 0 | |||||||||||||||
Depreciation and amortization | 0 | 0 | 0 | |||||||||||||||
Restructuring and other charges | 0 | 0 | 0 | |||||||||||||||
Gain on disposition | 0 | 0 | ||||||||||||||||
Total costs and expenses | 0 | 0 | 0 | |||||||||||||||
Operating (loss) income | 0 | 0 | 0 | |||||||||||||||
Equity in earnings of subsidiaries | 1,148 | 1,084 | 965 | |||||||||||||||
Interest expense | 0 | 0 | 0 | |||||||||||||||
Income (loss) from equity investees, net | 0 | 0 | 0 | |||||||||||||||
Other income (expense), net | 0 | 0 | 2 | |||||||||||||||
Income from continuing operations before income taxes | 1,148 | 1,084 | 967 | |||||||||||||||
Benefit from (provision for) income taxes | 0 | 0 | 0 | |||||||||||||||
Income from continuing operations, net of taxes | 967 | |||||||||||||||||
Loss from discontinued operations, net of taxes | 0 | |||||||||||||||||
Net income | 1,148 | 1,084 | 967 | |||||||||||||||
Net income attributable to nonredeemable noncontrolling interests | 0 | 0 | 0 | |||||||||||||||
Net loss (income) attributable to redeemable noncontrolling interests | 0 | 0 | ||||||||||||||||
Net income attributable to Discovery Communications, Inc. | 1,148 | 1,084 | 967 | |||||||||||||||
DCL [Member] | ||||||||||||||||||
Revenues | 1,871 | 1,867 | 1,796 | |||||||||||||||
Costs of revenues, excluding depreciation and amortization | 454 | 445 | 399 | |||||||||||||||
Selling, general and administrative | 223 | 270 | 279 | |||||||||||||||
Depreciation and amortization | 34 | 36 | 36 | |||||||||||||||
Restructuring and other charges | 17 | 1 | 2 | |||||||||||||||
Gain on disposition | 0 | 0 | ||||||||||||||||
Total costs and expenses | 728 | 752 | 716 | |||||||||||||||
Operating (loss) income | 1,143 | 1,115 | 1,080 | |||||||||||||||
Equity in earnings of subsidiaries | 561 | 620 | 444 | |||||||||||||||
Interest expense | -319 | -299 | -242 | |||||||||||||||
Income (loss) from equity investees, net | 10 | 4 | 3 | |||||||||||||||
Other income (expense), net | 36 | -50 | -1 | |||||||||||||||
Income from continuing operations before income taxes | 1,431 | 1,390 | 1,284 | |||||||||||||||
Benefit from (provision for) income taxes | -283 | -306 | -319 | |||||||||||||||
Income from continuing operations, net of taxes | 965 | |||||||||||||||||
Loss from discontinued operations, net of taxes | 0 | |||||||||||||||||
Net income | 1,148 | 1,084 | 965 | |||||||||||||||
Net income attributable to nonredeemable noncontrolling interests | 0 | 0 | 0 | |||||||||||||||
Net loss (income) attributable to redeemable noncontrolling interests | 0 | 0 | ||||||||||||||||
Net income attributable to Discovery Communications, Inc. | 1,148 | 1,084 | 965 | |||||||||||||||
Non-Guarantor Subsidiaries Of DCL [Member] | ||||||||||||||||||
Revenues | 4,396 | 3,678 | 2,704 | |||||||||||||||
Costs of revenues, excluding depreciation and amortization | 1,671 | 1,252 | 830 | |||||||||||||||
Selling, general and administrative | 1,455 | 1,315 | 997 | |||||||||||||||
Depreciation and amortization | 295 | 240 | 81 | |||||||||||||||
Restructuring and other charges | 73 | 15 | 4 | |||||||||||||||
Gain on disposition | -31 | -19 | ||||||||||||||||
Total costs and expenses | 3,463 | 2,803 | 1,912 | |||||||||||||||
Operating (loss) income | 933 | 875 | 792 | |||||||||||||||
Equity in earnings of subsidiaries | 0 | 0 | 0 | |||||||||||||||
Interest expense | -9 | -7 | -6 | |||||||||||||||
Income (loss) from equity investees, net | 13 | 14 | -89 | |||||||||||||||
Other income (expense), net | -45 | 99 | -4 | |||||||||||||||
Income from continuing operations before income taxes | 892 | 981 | 693 | |||||||||||||||
Benefit from (provision for) income taxes | -333 | -359 | -247 | |||||||||||||||
Income from continuing operations, net of taxes | 446 | |||||||||||||||||
Loss from discontinued operations, net of taxes | 0 | |||||||||||||||||
Net income | 559 | 622 | 446 | |||||||||||||||
Net income attributable to nonredeemable noncontrolling interests | 0 | 0 | 0 | |||||||||||||||
Net loss (income) attributable to redeemable noncontrolling interests | 0 | 0 | ||||||||||||||||
Net income attributable to Discovery Communications, Inc. | 559 | 622 | 446 | |||||||||||||||
Other Non - Guarantor Subsidiaries Of Discovery [Member] | ||||||||||||||||||
Revenues | 0 | 0 | 0 | |||||||||||||||
Costs of revenues, excluding depreciation and amortization | 0 | 0 | 0 | |||||||||||||||
Selling, general and administrative | 0 | 0 | 0 | |||||||||||||||
Depreciation and amortization | 0 | 0 | 0 | |||||||||||||||
Restructuring and other charges | 0 | 0 | 0 | |||||||||||||||
Gain on disposition | 0 | 0 | ||||||||||||||||
Total costs and expenses | 0 | 0 | 0 | |||||||||||||||
Operating (loss) income | 0 | 0 | 0 | |||||||||||||||
Equity in earnings of subsidiaries | 765 | 723 | 645 | |||||||||||||||
Interest expense | 0 | 0 | 0 | |||||||||||||||
Income (loss) from equity investees, net | 0 | 0 | 0 | |||||||||||||||
Other income (expense), net | 0 | 0 | 0 | |||||||||||||||
Income from continuing operations before income taxes | 765 | 723 | 645 | |||||||||||||||
Benefit from (provision for) income taxes | 0 | 0 | 0 | |||||||||||||||
Income from continuing operations, net of taxes | 645 | |||||||||||||||||
Loss from discontinued operations, net of taxes | -28 | |||||||||||||||||
Net income | 765 | 723 | 617 | |||||||||||||||
Net income attributable to nonredeemable noncontrolling interests | 0 | 0 | 0 | |||||||||||||||
Net loss (income) attributable to redeemable noncontrolling interests | 0 | 0 | ||||||||||||||||
Net income attributable to Discovery Communications, Inc. | 765 | 723 | 617 | |||||||||||||||
Discovery and Subsidiaries [Member] | ||||||||||||||||||
Revenues | 6,265 | 5,535 | 4,487 | |||||||||||||||
Costs of revenues, excluding depreciation and amortization | 2,124 | 1,689 | 1,218 | |||||||||||||||
Selling, general and administrative | 1,692 | 1,598 | 1,287 | |||||||||||||||
Depreciation and amortization | 329 | 276 | 117 | |||||||||||||||
Restructuring and other charges | 90 | 16 | 6 | |||||||||||||||
Gain on disposition | -31 | -19 | ||||||||||||||||
Total costs and expenses | 4,204 | 3,560 | 2,628 | |||||||||||||||
Operating (loss) income | 2,061 | 1,975 | 1,859 | |||||||||||||||
Equity in earnings of subsidiaries | 0 | 0 | 0 | |||||||||||||||
Interest expense | -328 | -306 | -248 | |||||||||||||||
Income (loss) from equity investees, net | 23 | 18 | -86 | |||||||||||||||
Other income (expense), net | -9 | 49 | -7 | |||||||||||||||
Income from continuing operations before income taxes | 1,747 | 1,736 | 1,518 | |||||||||||||||
Benefit from (provision for) income taxes | -610 | -659 | -562 | |||||||||||||||
Income from continuing operations, net of taxes | 956 | |||||||||||||||||
Loss from discontinued operations, net of taxes | -11 | |||||||||||||||||
Net income | 1,137 | 1,077 | 945 | |||||||||||||||
Net income attributable to nonredeemable noncontrolling interests | -2 | -1 | -2 | |||||||||||||||
Net loss (income) attributable to redeemable noncontrolling interests | 4 | -1 | ||||||||||||||||
Net income attributable to Discovery Communications, Inc. | $1,139 | $1,075 | $943 | |||||||||||||||
[1] | (a) On September 23, 2014, the Company acquired an additional 10% ownership interest in Discovery Family and, as a result, the accounting for Discovery Family was changed from an equity method investment to a consolidated subsidiary. On May 30, 2014, the Company acquired a controlling interest in Eurosport and, as a result, the accounting for Eurosport was changed from an equity method investment to a consolidated subsidiary. (See Note 3.) | |||||||||||||||||
[2] | (b)On April 9, 2013, the Company acquired SBS Nordic. The Company included the operations of this acquisition in the Company's consolidated financial statements as of the acquisition date. (See Note 3.) |
Condensed_Consolidating_Financ5
Condensed Consolidating Financial Statements (Condensed Consolidating Statement of Other Comprehensive Income) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |||||
Condensed Financial Statements, Captions [Line Items] | ||||||||||||||||
Net income | $235 | [1] | $287 | [1] | $384 | $231 | $290 | [2] | $256 | [2] | $300 | [2] | $231 | $1,137 | $1,077 | $945 |
Currency translation adjustments | -399 | -11 | 28 | |||||||||||||
Derivative and market value adjustments | -13 | 8 | -1 | |||||||||||||
Comprehensive income | 725 | 1,074 | 972 | |||||||||||||
Comprehensive income attributable to noncontrolling interests | -2 | -1 | -2 | |||||||||||||
Comprehensive loss attributable to redeemable noncontrolling interests | 44 | 2 | 0 | |||||||||||||
Comprehensive income attributable to Discovery Communications Inc. | 767 | 1,075 | 970 | |||||||||||||
Reclassifications and Eliminations [Member] | ||||||||||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||||||||||
Net income | -3,622 | -3,511 | -2,993 | |||||||||||||
Currency translation adjustments | 1,461 | 39 | -101 | |||||||||||||
Derivative and market value adjustments | 27 | -32 | 4 | |||||||||||||
Comprehensive income | -2,134 | -3,504 | -3,090 | |||||||||||||
Comprehensive income attributable to noncontrolling interests | -2 | -1 | -2 | |||||||||||||
Comprehensive loss attributable to redeemable noncontrolling interests | -143 | -12 | ||||||||||||||
Comprehensive income attributable to Discovery Communications Inc. | -2,279 | -3,517 | -3,092 | |||||||||||||
Discovery [Member] | ||||||||||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||||||||||
Net income | 1,139 | 1,075 | 943 | |||||||||||||
Currency translation adjustments | -399 | -11 | 28 | |||||||||||||
Derivative and market value adjustments | -13 | 8 | -1 | |||||||||||||
Comprehensive income | 727 | 1,072 | 970 | |||||||||||||
Comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 | |||||||||||||
Comprehensive loss attributable to redeemable noncontrolling interests | 40 | 3 | ||||||||||||||
Comprehensive income attributable to Discovery Communications Inc. | 767 | 1,075 | 970 | |||||||||||||
DCH [Member] | ||||||||||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||||||||||
Net income | 1,148 | 1,084 | 967 | |||||||||||||
Currency translation adjustments | -399 | -11 | 28 | |||||||||||||
Derivative and market value adjustments | -13 | 8 | -1 | |||||||||||||
Comprehensive income | 736 | 1,081 | 994 | |||||||||||||
Comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 | |||||||||||||
Comprehensive loss attributable to redeemable noncontrolling interests | 40 | 3 | ||||||||||||||
Comprehensive income attributable to Discovery Communications Inc. | 776 | 1,084 | 994 | |||||||||||||
DCL [Member] | ||||||||||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||||||||||
Net income | 1,148 | 1,084 | 965 | |||||||||||||
Currency translation adjustments | -399 | -11 | 28 | |||||||||||||
Derivative and market value adjustments | -13 | 8 | -1 | |||||||||||||
Comprehensive income | 736 | 1,081 | 992 | |||||||||||||
Comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 | |||||||||||||
Comprehensive loss attributable to redeemable noncontrolling interests | 40 | 3 | ||||||||||||||
Comprehensive income attributable to Discovery Communications Inc. | 776 | 1,084 | 992 | |||||||||||||
Non-Guarantor Subsidiaries Of DCL [Member] | ||||||||||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||||||||||
Net income | 559 | 622 | 446 | |||||||||||||
Currency translation adjustments | -397 | -10 | 26 | |||||||||||||
Derivative and market value adjustments | 8 | 11 | -1 | |||||||||||||
Comprehensive income | 170 | 623 | 471 | |||||||||||||
Comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 | |||||||||||||
Comprehensive loss attributable to redeemable noncontrolling interests | 40 | 3 | ||||||||||||||
Comprehensive income attributable to Discovery Communications Inc. | 210 | 626 | 471 | |||||||||||||
Other Non - Guarantor Subsidiaries Of Discovery [Member] | ||||||||||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||||||||||
Net income | 765 | 723 | 617 | |||||||||||||
Currency translation adjustments | -266 | -7 | 19 | |||||||||||||
Derivative and market value adjustments | -9 | 5 | -1 | |||||||||||||
Comprehensive income | 490 | 721 | 635 | |||||||||||||
Comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 | |||||||||||||
Comprehensive loss attributable to redeemable noncontrolling interests | 27 | 2 | ||||||||||||||
Comprehensive income attributable to Discovery Communications Inc. | 517 | 723 | 635 | |||||||||||||
Discovery and Subsidiaries [Member] | ||||||||||||||||
Condensed Financial Statements, Captions [Line Items] | ||||||||||||||||
Net income | 1,137 | 1,077 | 945 | |||||||||||||
Currency translation adjustments | -399 | -11 | 28 | |||||||||||||
Derivative and market value adjustments | -13 | 8 | -1 | |||||||||||||
Comprehensive income | 725 | 1,074 | 972 | |||||||||||||
Comprehensive income attributable to noncontrolling interests | -2 | -1 | -2 | |||||||||||||
Comprehensive loss attributable to redeemable noncontrolling interests | 44 | 2 | ||||||||||||||
Comprehensive income attributable to Discovery Communications Inc. | $767 | $1,075 | $970 | |||||||||||||
[1] | (a) On September 23, 2014, the Company acquired an additional 10% ownership interest in Discovery Family and, as a result, the accounting for Discovery Family was changed from an equity method investment to a consolidated subsidiary. On May 30, 2014, the Company acquired a controlling interest in Eurosport and, as a result, the accounting for Eurosport was changed from an equity method investment to a consolidated subsidiary. (See Note 3.) | |||||||||||||||
[2] | (b)On April 9, 2013, the Company acquired SBS Nordic. The Company included the operations of this acquisition in the Company's consolidated financial statements as of the acquisition date. (See Note 3.) |
Condensed_Consolidating_Financ6
Condensed Consolidating Financial Statements (Condensed Consolidating Statement Of Cash Flows) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Cash (used in) provided by operating activities | $1,318 | $1,285 | $1,099 |
Purchases of property and equipment | -120 | -115 | -77 |
Business acquisitions, net of cash acquired | -372 | -1,861 | -149 |
Hedging instruments, net | 0 | -55 | 0 |
Proceeds from disposition | 45 | 28 | 0 |
Distributions from equity method investees | 61 | 47 | 17 |
Investments in equity method investees, net | -177 | -28 | -404 |
Other investing activities, net | -5 | -3 | -30 |
Cash used in investing activities | -568 | -1,987 | -643 |
Borrowings from debt, net of discount | 415 | 1,198 | 992 |
Borrowings under revolving credit facility, net | 38 | 0 | 0 |
Commercial paper, net | 229 | 0 | 0 |
Debt issuance cost | -6 | -12 | -11 |
Principal repayments of capital lease obligations | -19 | -32 | -22 |
Repurchases of stock | -1,422 | -1,305 | -1,380 |
Cash proceeds from equity-based plans, net | 44 | 73 | 119 |
Cash used in financing activities | -734 | -85 | -305 |
Effect of exchange rate changes on cash and cash equivalents | -57 | -6 | 2 |
Net change in cash and cash equivalents | -41 | -793 | 153 |
Cash and cash equivalents, beginning of period | 408 | 1,201 | 1,048 |
Cash and cash equivalents, end of period | 367 | 408 | 1,201 |
Reclassifications and Eliminations [Member] | |||
Cash (used in) provided by operating activities | 0 | 0 | 0 |
Purchases of property and equipment | 0 | 0 | 0 |
Business acquisitions, net of cash acquired | 0 | 0 | 0 |
Hedging instruments, net | 0 | ||
Proceeds from disposition | 0 | 0 | |
Distributions from equity method investees | 0 | 0 | 0 |
Investments in equity method investees, net | 0 | 0 | 0 |
Other investing activities, net | 0 | 0 | 0 |
Cash used in investing activities | 0 | 0 | 0 |
Borrowings from debt, net of discount | 0 | 0 | 0 |
Borrowings under revolving credit facility, net | 0 | ||
Commercial paper, net | 0 | ||
Debt issuance cost | 0 | 0 | 0 |
Principal repayments of capital lease obligations | 0 | 0 | 0 |
Repurchases of stock | 0 | 0 | 0 |
Cash proceeds from equity-based plans, net | 0 | 0 | 0 |
Inter-company contributions and other financing activities, net | 0 | 0 | 0 |
Cash used in financing activities | 0 | 0 | 0 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | 0 |
Net change in cash and cash equivalents | 0 | 0 | 0 |
Cash and cash equivalents, beginning of period | 0 | 0 | 0 |
Cash and cash equivalents, end of period | 0 | 0 | 0 |
Discovery [Member] | |||
Cash (used in) provided by operating activities | 111 | -16 | -18 |
Purchases of property and equipment | 0 | 0 | 0 |
Business acquisitions, net of cash acquired | 0 | 0 | 0 |
Hedging instruments, net | 0 | ||
Proceeds from disposition | 0 | 0 | |
Distributions from equity method investees | 0 | 0 | 0 |
Investments in equity method investees, net | 0 | 0 | 0 |
Other investing activities, net | 0 | 0 | 0 |
Cash used in investing activities | 0 | 0 | 0 |
Borrowings from debt, net of discount | 0 | 0 | 0 |
Borrowings under revolving credit facility, net | 0 | ||
Commercial paper, net | 0 | ||
Debt issuance cost | 0 | 0 | 0 |
Principal repayments of capital lease obligations | 0 | 0 | 0 |
Repurchases of stock | -1,422 | -1,305 | -1,380 |
Cash proceeds from equity-based plans, net | 44 | 73 | 119 |
Inter-company contributions and other financing activities, net | 1,267 | 1,248 | 1,279 |
Cash used in financing activities | -111 | 16 | 18 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | 0 |
Net change in cash and cash equivalents | 0 | 0 | 0 |
Cash and cash equivalents, beginning of period | 0 | 0 | 0 |
Cash and cash equivalents, end of period | 0 | 0 | 0 |
DCH [Member] | |||
Cash (used in) provided by operating activities | -17 | -11 | 12 |
Purchases of property and equipment | 0 | 0 | 0 |
Business acquisitions, net of cash acquired | 0 | 0 | 0 |
Hedging instruments, net | 0 | ||
Proceeds from disposition | 0 | 0 | |
Distributions from equity method investees | 0 | 0 | 0 |
Investments in equity method investees, net | 0 | 0 | 0 |
Other investing activities, net | 0 | 0 | 0 |
Cash used in investing activities | 0 | 0 | 0 |
Borrowings from debt, net of discount | 0 | 0 | 0 |
Borrowings under revolving credit facility, net | 0 | ||
Commercial paper, net | 0 | ||
Debt issuance cost | 0 | 0 | 0 |
Principal repayments of capital lease obligations | 0 | 0 | 0 |
Repurchases of stock | 0 | 0 | 0 |
Cash proceeds from equity-based plans, net | 0 | 0 | 0 |
Inter-company contributions and other financing activities, net | 17 | 11 | -12 |
Cash used in financing activities | 17 | 11 | -12 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | 0 |
Net change in cash and cash equivalents | 0 | 0 | 0 |
Cash and cash equivalents, beginning of period | 0 | 0 | 0 |
Cash and cash equivalents, end of period | 0 | 0 | 0 |
DCL [Member] | |||
Cash (used in) provided by operating activities | 269 | 288 | 307 |
Purchases of property and equipment | -16 | -19 | -18 |
Business acquisitions, net of cash acquired | -64 | 0 | 0 |
Hedging instruments, net | -55 | ||
Proceeds from disposition | 0 | 0 | |
Distributions from equity method investees | 0 | 0 | 0 |
Investments in equity method investees, net | -5 | -1 | 0 |
Other investing activities, net | 0 | 0 | -31 |
Cash used in investing activities | -85 | -75 | -49 |
Borrowings from debt, net of discount | 415 | 1,198 | 992 |
Borrowings under revolving credit facility, net | 13 | ||
Commercial paper, net | 229 | ||
Debt issuance cost | -6 | -12 | 11 |
Principal repayments of capital lease obligations | -4 | -7 | -6 |
Repurchases of stock | 0 | 0 | 0 |
Cash proceeds from equity-based plans, net | 0 | 0 | 0 |
Inter-company contributions and other financing activities, net | -946 | -2,291 | -1,175 |
Cash used in financing activities | -299 | -1,112 | -200 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | 0 |
Net change in cash and cash equivalents | -115 | -899 | 58 |
Cash and cash equivalents, beginning of period | 123 | 1,022 | 964 |
Cash and cash equivalents, end of period | 8 | 123 | 1,022 |
Non-Guarantor Subsidiaries Of DCL [Member] | |||
Cash (used in) provided by operating activities | 955 | 1,024 | 798 |
Purchases of property and equipment | -104 | -96 | -58 |
Business acquisitions, net of cash acquired | -308 | -1,861 | -149 |
Hedging instruments, net | 0 | ||
Proceeds from disposition | 45 | 28 | |
Distributions from equity method investees | 61 | 47 | 17 |
Investments in equity method investees, net | -172 | -27 | -404 |
Other investing activities, net | -5 | -3 | 0 |
Cash used in investing activities | -483 | -1,912 | -594 |
Borrowings from debt, net of discount | 0 | 0 | 0 |
Borrowings under revolving credit facility, net | 25 | ||
Commercial paper, net | 0 | ||
Debt issuance cost | 0 | 0 | 0 |
Principal repayments of capital lease obligations | -15 | -25 | -16 |
Repurchases of stock | 0 | 0 | 0 |
Cash proceeds from equity-based plans, net | 0 | 0 | 0 |
Inter-company contributions and other financing activities, net | -351 | 1,025 | -94 |
Cash used in financing activities | -341 | 1,000 | -110 |
Effect of exchange rate changes on cash and cash equivalents | -57 | -6 | 2 |
Net change in cash and cash equivalents | 74 | 106 | 96 |
Cash and cash equivalents, beginning of period | 285 | 179 | 83 |
Cash and cash equivalents, end of period | 359 | 285 | 179 |
Other Non - Guarantor Subsidiaries Of Discovery [Member] | |||
Cash (used in) provided by operating activities | 0 | 0 | 0 |
Purchases of property and equipment | 0 | 0 | -1 |
Business acquisitions, net of cash acquired | 0 | 0 | 0 |
Hedging instruments, net | 0 | ||
Proceeds from disposition | 0 | 0 | |
Distributions from equity method investees | 0 | 0 | 0 |
Investments in equity method investees, net | 0 | 0 | 0 |
Other investing activities, net | 0 | 0 | 1 |
Cash used in investing activities | 0 | 0 | 0 |
Borrowings from debt, net of discount | 0 | 0 | 0 |
Borrowings under revolving credit facility, net | 0 | ||
Commercial paper, net | 0 | ||
Debt issuance cost | 0 | 0 | 0 |
Principal repayments of capital lease obligations | 0 | 0 | 0 |
Repurchases of stock | 0 | 0 | 0 |
Cash proceeds from equity-based plans, net | 0 | 0 | 0 |
Inter-company contributions and other financing activities, net | 0 | 0 | -1 |
Cash used in financing activities | 0 | 0 | -1 |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | 0 |
Net change in cash and cash equivalents | 0 | 0 | -1 |
Cash and cash equivalents, beginning of period | 0 | 0 | 1 |
Cash and cash equivalents, end of period | 0 | 0 | 0 |
Discovery and Subsidiaries [Member] | |||
Cash (used in) provided by operating activities | 1,318 | 1,285 | 1,099 |
Purchases of property and equipment | -120 | -115 | -77 |
Business acquisitions, net of cash acquired | -372 | -1,861 | -149 |
Hedging instruments, net | -55 | ||
Proceeds from disposition | 45 | 28 | |
Distributions from equity method investees | 61 | 47 | 17 |
Investments in equity method investees, net | -177 | -28 | -404 |
Other investing activities, net | -5 | -3 | -30 |
Cash used in investing activities | -568 | -1,987 | -643 |
Borrowings from debt, net of discount | 415 | 1,198 | 992 |
Borrowings under revolving credit facility, net | 38 | ||
Commercial paper, net | 229 | ||
Debt issuance cost | -6 | -12 | 11 |
Principal repayments of capital lease obligations | -19 | -32 | -22 |
Repurchases of stock | -1,422 | -1,305 | -1,380 |
Cash proceeds from equity-based plans, net | 44 | 73 | 119 |
Inter-company contributions and other financing activities, net | -13 | -7 | -3 |
Cash used in financing activities | -734 | -85 | -305 |
Effect of exchange rate changes on cash and cash equivalents | -57 | -6 | 2 |
Net change in cash and cash equivalents | -41 | -793 | 153 |
Cash and cash equivalents, beginning of period | 408 | 1,201 | 1,048 |
Cash and cash equivalents, end of period | $367 | $408 | $1,201 |