Document And Entity Information
Document And Entity Information - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2016 | Feb. 09, 2017 | Jun. 30, 2016 | |
Entity Registrant Name | Discovery Communications, Inc. | ||
Entity Central Index Key | 1,437,107 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Large Accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 9 | ||
Series A Common Stock [Member] | |||
Entity Common Stock, Shares Outstanding | 152,634,023 | ||
Series B Common Stock [Member] | |||
Entity Common Stock, Shares Outstanding | 6,512,379 | ||
Series C Common Stock [Member] | |||
Entity Common Stock, Shares Outstanding | 229,509,862 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 300 | $ 390 |
Receivables, net | 1,495 | 1,479 |
Content rights, net | 310 | 313 |
Deferred income taxes | 97 | 68 |
Prepaid expenses and other current assets | 397 | 346 |
Total current assets | 2,599 | 2,596 |
Noncurrent content rights, net | 2,089 | 2,030 |
Property and equipment, net | 482 | 488 |
Goodwill | 8,040 | 8,164 |
Intangible assets, net | 1,512 | 1,730 |
Equity method investments, including note receivable | 557 | 567 |
Other noncurrent assets | 479 | 289 |
Total assets | 15,758 | 15,864 |
Current liabilities: | ||
Accounts payable | 241 | 282 |
Accrued liabilities | 1,075 | 988 |
Deferred revenues | 163 | 190 |
Current portion of debt | 82 | 119 |
Total current liabilities | 1,561 | 1,579 |
Noncurrent portion of debt | 7,841 | 7,616 |
Deferred income taxes | 553 | 556 |
Other noncurrent liabilities | 393 | 421 |
Total liabilities | 10,348 | 10,172 |
Commitments and contingencies (See Note 20) | ||
Redeemable noncontrolling interests | 243 | 241 |
Discovery Communications, Inc. stockholders' equity | ||
Additional paid-in capital | 7,046 | 7,021 |
Treasury stock, at cost | (6,356) | (5,461) |
Retained earnings | 5,232 | 4,517 |
Accumulated other comprehensive loss | (762) | (633) |
Total equity | 5,167 | 5,451 |
Total liabilities and equity | 15,758 | 15,864 |
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 | $ 4 |
Treasury stock, at cost | $ (6,200) |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - $ / shares | Dec. 31, 2016 | Dec. 31, 2015 |
Stock authorized (in shares) | 150,000,000 | |
Series A Convertible Preferred Stock [Member] | ||
Convertible preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Stock authorized (in shares) | 75,000,000 | |
Preferred stock authorized (in shares) | 75,000,000 | 75,000,000 |
Preferred stock issued (in shares) | 71,000,000 | 71,000,000 |
Series C Convertible Preferred Stock [Member] | ||
Convertible preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Stock authorized (in shares) | 75,000,000 | |
Preferred stock authorized (in shares) | 75,000,000 | 75,000,000 |
Preferred stock issued (in shares) | 28,000,000 | 38,000,000 |
Series A Common Stock [Member] | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock authorized (in shares) | 1,700,000,000 | 1,700,000,000 |
Common stock issued (in shares) | 155,000,000 | 153,000,000 |
Series B Common Stock [Member] | ||
Stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Stock authorized (in shares) | 100,000,000 | 100,000,000 |
Stock issued (in shares) | 100,000,000 | 7,000,000 |
Series C Common Stock [Member] | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock authorized (in shares) | 2,000,000,000 | 2,000,000,000 |
Common stock issued (in shares) | 381,000,000 | 376,000,000 |
Consolidated Statements Of Oper
Consolidated Statements Of Operations - USD ($) shares in Millions, $ in Millions | May 30, 2014 | Dec. 31, 2016 | [1],[2] | Sep. 30, 2016 | [1],[2] | Jun. 30, 2016 | [1],[2] | Mar. 31, 2016 | [1],[2] | Dec. 31, 2015 | [1],[2] | Sep. 30, 2015 | [1],[2] | Jun. 30, 2015 | [1],[2] | Mar. 31, 2015 | [1],[2] | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Revenues: | ||||||||||||||||||||
Distribution | $ 3,213 | $ 3,068 | $ 2,842 | |||||||||||||||||
Advertising | 2,970 | 3,004 | 3,089 | |||||||||||||||||
Other | 314 | 322 | 334 | |||||||||||||||||
Total revenues | $ 1,672 | $ 1,556 | $ 1,708 | $ 1,561 | $ 1,646 | $ 1,557 | $ 1,654 | $ 1,537 | 6,497 | 6,394 | 6,265 | |||||||||
Costs and expenses: | ||||||||||||||||||||
Costs of revenues, excluding depreciation and amortization | 2,432 | 2,343 | 2,124 | |||||||||||||||||
Selling, general and administrative | 1,690 | 1,669 | 1,692 | |||||||||||||||||
Depreciation and amortization | 322 | 330 | 329 | |||||||||||||||||
Restructuring and other charges | 58 | 50 | 90 | |||||||||||||||||
(Gain) loss on disposition | $ (31) | (63) | 17 | (31) | ||||||||||||||||
Total costs and expenses | 4,439 | 4,409 | 4,204 | |||||||||||||||||
Operating income | 525 | 458 | 586 | 489 | 441 | 505 | 557 | 482 | 2,058 | 1,985 | 2,061 | |||||||||
Interest expense | (353) | (330) | (328) | |||||||||||||||||
(Loss) income from equity investees, net | (38) | 1 | 23 | |||||||||||||||||
Other income (expense), net | 4 | (97) | (9) | |||||||||||||||||
Income before income taxes | 1,671 | 1,559 | 1,747 | |||||||||||||||||
Income taxes | (453) | (511) | (610) | |||||||||||||||||
Net income | 309 | 225 | 415 | 269 | 226 | 283 | 289 | 250 | 1,218 | 1,048 | 1,137 | |||||||||
Net income attributable to noncontrolling interests | (1) | (1) | (2) | |||||||||||||||||
Net (income) loss attributable to redeemable noncontrolling interests | (23) | (13) | 4 | |||||||||||||||||
Net income attributable to Discovery Communications, Inc. | $ 304 | $ 219 | $ 408 | $ 263 | $ 219 | $ 279 | $ 286 | $ 250 | $ 1,194 | $ 1,034 | $ 1,139 | |||||||||
Series A, B and C Common Stock [Member] | ||||||||||||||||||||
Net income per share available to Discovery Communications, Inc. Series A, B and C common stockholders: | ||||||||||||||||||||
Basic (in dollars per share) | $ 0.52 | $ 0.37 | $ 0.66 | $ 0.42 | $ 0.34 | $ 0.43 | $ 0.44 | $ 0.38 | $ 1.97 | $ 1.59 | $ 1.67 | |||||||||
Diluted (in dollars per share) | $ 0.52 | $ 0.36 | $ 0.66 | $ 0.42 | $ 0.34 | $ 0.43 | $ 0.44 | $ 0.37 | $ 1.96 | $ 1.58 | $ 1.66 | |||||||||
Weighted average shares outstanding: | ||||||||||||||||||||
Basic (in shares) | 401 | 432 | 454 | |||||||||||||||||
Diluted (in shares) | 610 | 656 | 687 | |||||||||||||||||
[1] | (b) 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. On March 31, 2015, the Company completed its acquisition of an additional 31% interest in Eurosport France upon resolution of certain regulatory matters. On June 30, 2015, the Company disposed of its radio operations in SBS Nordic. (See Note 3.) | |||||||||||||||||||
[2] | ) |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Operating Activities | |||
Net income | $ 1,218 | $ 1,048 | $ 1,137 |
Adjustments to reconcile net income to cash provided by operating activities: | |||
Equity-based compensation expense | 69 | 35 | 78 |
Depreciation and amortization | 322 | 330 | 329 |
Content amortization and impairment expense | 1,773 | 1,709 | 1,557 |
(Gain) loss on disposition | (63) | 17 | (31) |
Remeasurement gain on previously held equity interests | 0 | (2) | (29) |
Equity in losses (earnings) of investee companies, net of cash distributions | 44 | 8 | (1) |
Deferred income taxes | (27) | 2 | (181) |
Realized loss from derivative instruments | 3 | 5 | 0 |
Other-than-temporary impairment of AFS investments | 62 | 0 | 0 |
Other, net | 50 | 30 | 44 |
Changes in operating assets and liabilities, net of business combinations: | |||
Receivables, net | (25) | (44) | 6 |
Content rights, net | (1,904) | (1,773) | (1,683) |
Accounts payable and accrued liabilities | (12) | 11 | 138 |
Equity-based compensation liabilities | (5) | (25) | (81) |
Income taxes receivable and prepaid income taxes | (31) | (64) | 40 |
Other, net | (101) | (10) | (5) |
Cash provided by operating activities | 1,373 | 1,277 | 1,318 |
Investing Activities | |||
Payments for investments, net | (272) | (272) | (180) |
Purchases of property and equipment | (88) | (103) | (120) |
Distributions from equity method investees, net | 87 | 87 | 61 |
Proceeds from dispositions, net of cash disposed | 19 | 61 | 45 |
Payments for derivative instruments, net | 0 | (9) | 0 |
Business acquisitions, net of cash acquired | 0 | (80) | (372) |
Other investing activities, net | (2) | 15 | (2) |
Cash used in investing activities | (256) | (301) | (568) |
Financing Activities | |||
Commercial paper (repayments) borrowings, net | (45) | (136) | 229 |
Borrowings under revolving credit facility | 613 | 1,016 | 698 |
Principal repayments of revolving credit facility | (835) | (265) | (660) |
Borrowings from debt, net of discount | 498 | 936 | 415 |
Principal repayments of debt | 0 | (849) | 0 |
Principal repayments of capital lease obligations | (28) | (27) | (19) |
Repurchases of stock and stock settlements of common stock repurchase contracts | (1,374) | (951) | (1,422) |
Prepayments for outstanding common stock repurchase contracts | (57) | 0 | 0 |
Purchase of redeemable noncontrolling interests | 0 | (548) | (1) |
Payments to redeemable noncontrolling interests | (22) | (42) | (2) |
Equity-based plan proceeds, net | 46 | 6 | 44 |
Hedge of borrowings from debt instruments | 40 | (29) | 0 |
Other financing activities, net | (13) | (13) | (16) |
Cash used in financing activities | (1,177) | (902) | (734) |
Effect of exchange rate changes on cash and cash equivalents | (30) | (51) | (57) |
Net change in cash and cash equivalents | (90) | 23 | (41) |
Cash and cash equivalents, beginning of period | 390 | 367 | 408 |
Cash and cash equivalents, end of period | $ 300 | $ 390 | $ 367 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||||||||||
Dec. 31, 2016 | [1],[2] | Sep. 30, 2016 | [1],[2] | Jun. 30, 2016 | [1],[2] | Mar. 31, 2016 | [1],[2] | Dec. 31, 2015 | [1],[2] | Sep. 30, 2015 | [1],[2] | Jun. 30, 2015 | [1],[2] | Mar. 31, 2015 | [1],[2] | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Statement of Comprehensive Income [Abstract] | |||||||||||||||||||
Net income | $ 309 | $ 225 | $ 415 | $ 269 | $ 226 | $ 283 | $ 289 | $ 250 | $ 1,218 | $ 1,048 | $ 1,137 | ||||||||
Other comprehensive (loss) income, net of tax | |||||||||||||||||||
Currency translation adjustments | (191) | (201) | (399) | ||||||||||||||||
Market value adjustments | 38 | (25) | (2) | ||||||||||||||||
Derivative adjustments | 24 | (1) | (11) | ||||||||||||||||
Comprehensive income | 1,089 | 821 | 725 | ||||||||||||||||
Comprehensive income attributable to noncontrolling interests | (1) | (1) | (2) | ||||||||||||||||
Comprehensive (income) loss attributable to redeemable noncontrolling interests | (23) | 10 | 44 | ||||||||||||||||
Comprehensive income attributable to Discovery Communications Inc. | $ 1,065 | $ 830 | $ 767 | ||||||||||||||||
[1] | (b) 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. On March 31, 2015, the Company completed its acquisition of an additional 31% interest in Eurosport France upon resolution of certain regulatory matters. On June 30, 2015, the Company disposed of its radio operations in SBS Nordic. (See Note 3.) | ||||||||||||||||||
[2] | ) |
Consolidated Statements Of Equi
Consolidated Statements Of Equity - USD ($) shares in Millions, $ in Millions | 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] |
Beginning Balance (in shares) at Dec. 31, 2013 | 115 | ||||||||
Beginning Balance (in shares) at Dec. 31, 2013 | 308 | ||||||||
Beginning Balance at Dec. 31, 2013 | $ 6,197 | $ 2 | $ 3 | $ 6,826 | $ (3,531) | $ 2,892 | $ 4 | $ 6,196 | $ 1 |
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 preferred stock, shares | (2) | 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 | |||||||
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 | |||||||
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 |
Purchase of redeemable noncontrolling interest | 5 | 0 | 0 | 5 | 0 | 0 | 0 | 5 | 0 |
Cash distributions to noncontrolling interests | (1) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (1) |
Other adjustments to stockholders' equity | (1) | $ 0 | $ 0 | 0 | 0 | (1) | 0 | (1) | 0 |
Ending Balance (in shares) at Dec. 31, 2014 | 113 | ||||||||
Ending Balance (in shares) at Dec. 31, 2014 | 533 | ||||||||
Ending Balance at Dec. 31, 2014 | 5,604 | $ 2 | $ 5 | 6,917 | (4,763) | 3,809 | (368) | 5,602 | 2 |
Net income | 1,035 | 0 | 0 | 0 | 0 | 1,034 | 0 | 1,034 | 1 |
Other comprehensive income | (204) | $ 0 | $ 0 | 0 | 0 | 0 | (204) | (204) | 0 |
Repurchases of preferred stock, shares | (4) | 0 | |||||||
Repurchases of stock | (951) | $ 0 | $ 0 | 0 | (698) | (253) | 0 | (951) | 0 |
Equity-based compensation | 39 | 0 | 0 | 39 | 0 | 0 | 0 | 39 | 0 |
Excess tax benefits from equity-based compensation | 12 | 0 | 0 | 12 | 0 | 0 | 0 | 12 | 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 | 3 | |||||||
Issuance of common stock in connection with equity-based plans | 21 | $ 0 | $ 0 | 21 | 0 | 0 | 0 | 21 | 0 |
Other adjustments for equity-based plans | (2) | 0 | 0 | (2) | 0 | 0 | 0 | (2) | 0 |
Redeemable noncontrolling interest adjustments to redemption value | (73) | 0 | 0 | 0 | 0 | (73) | 0 | (73) | 0 |
Purchase of redeemable noncontrolling interest | 0 | 0 | 0 | 61 | 0 | 0 | (61) | 0 | 0 |
Other adjustments to stockholders' equity | (3) | $ 0 | $ 0 | 0 | 0 | 0 | 0 | 0 | (3) |
Ending Balance (in shares) at Dec. 31, 2015 | 109 | ||||||||
Ending Balance (in shares) at Dec. 31, 2015 | 536 | ||||||||
Ending Balance at Dec. 31, 2015 | 5,451 | $ 2 | $ 5 | 7,021 | (5,461) | 4,517 | (633) | 5,451 | 0 |
Net income | 1,195 | 0 | 0 | 0 | 0 | 1,194 | 0 | 1,194 | 1 |
Other comprehensive income | (129) | $ 0 | $ 0 | 0 | 0 | 0 | (129) | (129) | 0 |
Repurchases of preferred stock, shares | (9) | 0 | |||||||
Repurchases of stock | (1,374) | $ 0 | $ 0 | 0 | (895) | (479) | 0 | (1,374) | 0 |
Prepayment for common stock repurchase contract | (57) | 0 | 0 | (57) | 0 | 0 | 0 | (57) | 0 |
Equity-based compensation | 35 | 0 | 0 | 35 | 0 | 0 | 0 | 35 | 0 |
Excess tax benefits from equity-based compensation | 7 | 0 | 0 | 7 | 0 | 0 | 0 | 7 | 0 |
Tax settlements associated with equity-based plans | (11) | $ 0 | $ 0 | (11) | 0 | 0 | 0 | (11) | 0 |
Issuance of common stock in connection with equity-based plans (in shares) | 0 | 5 | |||||||
Issuance of common stock in connection with equity-based plans | 51 | $ 0 | $ 0 | 51 | 0 | 0 | 0 | 51 | 0 |
Cash distributions to noncontrolling interests | (1) | $ 0 | $ 0 | 0 | 0 | 0 | 0 | 0 | (1) |
Share conversion (in shares) | (1) | 2 | |||||||
Share conversion | 0 | $ 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
Ending Balance (in shares) at Dec. 31, 2016 | 99 | ||||||||
Ending Balance (in shares) at Dec. 31, 2016 | 543 | ||||||||
Ending Balance at Dec. 31, 2016 | $ 5,167 | $ 2 | $ 5 | $ 7,046 | $ (6,356) | $ 5,232 | $ (762) | $ 5,167 | $ 0 |
Description Of Business And Bas
Description Of Business And Basis Of Presentation | 12 Months Ended |
Dec. 31, 2016 | |
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 We are a global media company that provides content across multiple distribution platforms, including linear platforms such as pay-television ("pay-TV"), free-to-air ("FTA") and broadcast television, various digital distribution platforms and content licensing agreements. We also operate a portfolio of websites, digital direct-to-consumer products, production studios and curriculum-based education products and services. The Company presents the following segments: U.S. Networks, consisting principally of domestic television networks and digital content services, and International Networks, consisting principally of international television networks and digital content services; and 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 21. Basis of Presentation The consolidated financial statements include the accounts of Discovery and its majority-owned subsidiaries in which a controlling interest is maintained. For each non-wholly owned subsidiary, 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 makes judgments in determining whether the entity is a variable interest entity ("VIE") and, if so, whether it is the primary beneficiary of the VIE and is thus required to consolidate the entity. (See Note 4.) Inter-company accounts and transactions between consolidated entities have been eliminated in consolidation. |
Summary Of Significant Accounti
Summary Of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Summary Of Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Accounting and Reporting Pronouncements Adopted Presentation of Financial Statements - Going Concern In August 2014 , the Financial Accounting Standards Board ("FASB") issued guidance requiring the Company 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 for a period of one year after the financial statements are issued, and to provide related disclosures, if applicable. If such conditions or events exist, an entity should disclose that there is substantial doubt about the entity's ability to continue as a going concern for a period of one year after the financial statements are issued , along with the principal conditions or events that raise substantial doubt, management's evaluation of the significance of those conditions or events in relation to the entity's ability to meet its obligations, and management's plans that are intended to mitigate those conditions or events. The Company adopted this guidance for the year ended December 31, 2016 , and concluded that there were no conditions or events that raise substantial doubt about the Company's ability to continue as a going concern for one year after the financial statements are issued. Business Consolidation In February 2015 , the FASB issued guidance that amends the analysis that a reporting entity performs to determine whether it should consolidate certain legal entities. The changes in this guidance include how related parties and de facto agents are considered in the primary beneficiary determination and the analysis for determining whether a fee paid to a decision maker or service provider is a variable interest. The Company adopted this guidance effective January 1, 2016 , and there was no effect on the consolidated financial statements. Business Combinations In September 2015 , the FASB issued new guidance on adjustments to provisional amounts recognized in a business combination, which were recognized on a retrospective basis. Under the new requirements, adjustments will be recognized in the reporting period in which the adjustments are determined. The effects of changes in depreciation, amortization, or other income arising from changes to the provisional amounts, if any, are included in earnings of the reporting period in which the adjustments to the provisional amounts are determined. An entity is also required to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. The Company adopted this guidance effective January 1, 2016 , and there was no effect on the consolidated financial statements. Accounting for Fees Paid in a Cloud Computing Arrangement In April 2015 , the FASB issued explicit guidance on the recognition of fees paid by a customer for cloud computing arrangements as either the acquisition of a software license or a service contract. The Company adopted this guidance effective October 1, 2015 , and there was no effect on the consolidated financial statements. Reporting Discontinued Operations In April 2014, the 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 must represent a strategic shift with a major effect on its operations and financial results in order to be classified as a discontinued operation. The Company's policy is to present the results of operations of a component classified as discontinued operations, as well as any gain or loss on the disposal transaction, 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. The Company adopted the new guidance on July 1, 2014. Accounting and Reporting Pronouncements Not Yet Adopted Goodwill In January 2017, the FASB issued guidance that simplifies the subsequent measurement of goodwill. The new guidance eliminates Step 2 from the goodwill impairment test, and eliminates the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment. Therefore, an entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, and the same impairment assessment applies to all reporting units. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017 . The amendments in this update should be adopted on a prospective basis for the annual or any interim goodwill impairment tests beginning after December 15, 2019 . Income Taxes In October 2016 , the FASB issued guidance that simplifies the accounting for the income tax consequences of intra-entity transfers of assets other than inventory. The new guidance includes requirements to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs, and therefore eliminates the exception for an intra-entity transfer of an asset other than inventory. The new standard is effective for reporting periods beginning after December 15, 2017 , and can be adopted early in any interim period, with any adjustments applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company is currently evaluating the impact that the pronouncement will have on the consolidated financial statements. Statement of Cash Flows In August 2016, the FASB issued guidance to reduce diversity in practice in how specific transactions are classified in the statement of cash flows. The update provides guidance on the following eight types of transactions: debt prepayment or debt extinguishment costs, settlement of zero-coupon debt instruments, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies, distributions received from equity method investments, beneficial interests in securitization transactions, separately identifiable cash flows and application of the predominance principle. The amendments in this update are effective for reporting periods beginning after December 15, 2017 , including interim periods within those fiscal years. Early adoption is permitted, provided that all of the amendments are adopted in the same period. The guidance requires application using a retrospective transition method. The Company is currently evaluating the impact that the pronouncement will have on the consolidated financial statements. Share-Based Payments In March 2016 , the FASB issued guidance that simplifies how share-based payments are accounted for and presented in the financial statements. The Company is assessing the complete impact to the financial statements. Currently, the implementation of the new the accounting guidance effective January 1, 2017, is expected to impact the financial statements as follows: • Actual forfeitures will be used in the calculations of stock-based compensation expense instead of estimated forfeitures. The prior period impact is not expected to be material and will be recorded in retained earnings using the modified retrospective method as of January 1, 2017. • Windfall tax benefits or deficiencies will be recorded in income tax expense in the period in which they occur, whereas current guidance requires windfall benefits to be recorded in accumulated paid-in capital (“APIC”) with shortfalls offset against available windfall benefits. This change will be applied prospectively. The amounts recorded to APIC for net windfalls for the years ended December 31, 2016 , 2015 and 2014 are $7 million , $12 million and $30 million , respectively. • Cash flows from windfall tax benefits will no longer factor into the calculation of the number of shares for diluted earnings per share. This change will be applied prospectively and is not expected to have a material impact on diluted earnings per share. Cash flows from windfall tax benefits reduced diluted earnings per share by zero , zero and $0.01 per share for the years ended December 31, 2016 , 2015 and 2014 , respectively. • Windfall tax benefits will be reclassified from financing activities to operating activities in the statement of cash flows presentation. This change will be applied retrospectively, resulting in the adjustment of prior period amounts. Cash flows from operating activities and cash used in financing activities will increase by $7 million , $12 million and $30 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. The table below summarizes the expected effects of this new guidance on the Company's consolidated financial statements (in millions). Year Ended December 31, 2016 Year Ended December 31, 2015 Year Ended December 31, 2014 As reported As adjusted As reported As adjusted As reported As reported Consolidated Statement of Cash Flows Cash flows from operating activities $ 1,373 $ 1,380 $ 1,277 $ 1,289 $ 1,318 $ 1,348 Cash used in financing activities $ (1,177 ) $ (1,184 ) $ (902 ) $ (914 ) $ (734 ) $ (764 ) Leases In February 2016 , the FASB issued guidance on leases that will require lessees to recognize almost all of their leases on the balance sheet by recording a right-of-use asset and liability. The new standard will be effective for reporting periods beginning after December 15, 2018 , and requires application of the new accounting guidance at the beginning of the earliest comparative period presented in the year of adoption. The Company is currently evaluating the impact that the pronouncement will have on the consolidated financial statements, however it is expected that assets and liabilities will increase materially when operating leases are recorded under the new standard. Recognition and Measurement of Financial Instruments In January 2016 , the FASB issued guidance regarding the classification and measurement of financial instruments. The standard requires equity securities, including available-for-sale ("AFS") securities, to be measured at fair value with changes in the fair value recognized through net income, superseding the guidance permitting entities to record gains and losses on equity securities with readily determinable fair values in accumulated other comprehensive income. Investments accounted for under the equity method of accounting or that result in consolidation are not included within the scope of this update. The new standard will affect the Company's accounting for AFS securities for reporting periods beginning after December 15, 2017 . Balance Sheet Classification of Deferred Taxes In November 2015 , the FASB issued guidance to simplify the presentation of deferred income taxes, which removes the requirement to separate deferred tax liabilities and assets into current and noncurrent amounts and instead requires all such amounts be classified as noncurrent on the Company's consolidated balance sheets. As a result, each tax jurisdiction will now only have one net noncurrent deferred tax asset or liability. The new guidance does not change the existing requirement that prohibits offsetting deferred tax liabilities from one jurisdiction against deferred tax assets of another jurisdiction. The Company will retrospectively adopt the new guidance effective January 1, 2017. The following table summarizes the adjustments the Company expects to make to conform prior period classifications to the new guidance: December 31, 2016 December 31, 2015 As reported As adjusted As reported As adjusted Current deferred income tax assets $ 97 $ — $ 68 $ — Noncurrent deferred income tax assets (included within other noncurrent assets) 9 20 18 25 Noncurrent deferred income tax liabilities (553 ) (467 ) (556 ) (495 ) Total $ (447 ) $ (447 ) $ (470 ) $ (470 ) 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, as amended, contains principles with respect to the measurement and timing of recognition of revenue. 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. The new standard is effective for annual reporting periods beginning after December 15, 2017 . The Company will apply the new revenue standard beginning January 1, 2018 , and will not early adopt. The Company has identified the advertising sales and distribution revenue streams as significant and is currently in the process of analyzing each of these in accordance with the new guidance to determine the impact on the consolidated financial statements. The guidance permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the cumulative catch-up transition method). When the Company has completed its evaluation, it will determine the method of transition that will be used in adopting the new standard. 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 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 19.) Investments The Company holds investments in equity method investees, cost method investees and available-for-sale 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 typically 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. For the Company's equity method investments in renewable energy limited liability companies where the capital structure of the equity investment results in different liquidation rights and priorities than what is reflected by the underlying percentage ownership interests, the Company's proportionate share of net earnings is accounted for using the Hypothetical Liquidation at Book Value ("HLBV") methodology available under the equity method of accounting. When applying HLBV, the Company determines the amount that would be received if the investment were to liquidate all of its assets and distribute the resulting cash to the investors based on contractually defined liquidation priorities. The change in the Company's claim on the investee's book value in accordance with GAAP at the beginning and the end of the reporting period, after adjusting for any contributions or distributions, is the Company's share of the earnings or losses for the period.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.) Cost method investments include ownership rights that either (i) do not meet the definition of in-substance common stock or (ii) do not provide the Company with control or significant influence and these investments do not have readily determinable fair values. Cost method investments are recorded at the lower of cost or fair value. Investments in entities or other securities in which the Company has no control or significant influence and is not the primary beneficiary and have a readily determinable fair value are accounted for at fair value based on quoted market prices are 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 income (expense), net , on the consolidated statements of operations. For investments classified as AFS, which include investments in common stock, 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 AFS securities are determined to be other-than-temporary, a loss is recorded in earnings in the current period as a component of other income (expense), net on the consolidated statements of operations. (See "Asset Impairment Analysis" below.) For purposes of computing realized gains and losses, the Company determines cost on a specific identification basis. 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 income (expense), net , and totaled a gain of $75 million , a loss of $ 103 million , and a loss of $ 22 million for 2016 , 2015 and 2014 , respectively. Cash flows from the Company's operations in foreign countries are generally translated at the weighted average rate for the applicable period in the consolidated statements of cash flows. The impacts of material transactions are recorded at the applicable spot rates as of the transaction date 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 90 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, films 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 includes advance payments for rights to air sporting events that will take place in the future and advance payments for acquired films and television series. 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 costs. 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 license period for the programs has commenced and the programs are available for air 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 when the right to air the content is received are recognized as in-production produced, 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: (i) the grouping of content by network, (ii) the application of a quantitative revenue forecast model based on the adequacy of a network's historical data, (iii) determining the appropriate historical periods to utilize and the relative weighting of those historical periods in the revenue forecast model, and (iv) 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 in determining the film 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 event or season based on the estimated relative value of each event or season. The result of the revenue forecast model is either an accelerated method or a straight-line amortization method over the estimated useful lives of primarily three to four 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. Amortization of 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, including prepaid sports rights, 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. 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 if an event or other circumstance indicates that we may not recover the carrying value of the asset. 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. The Company performs a quantitative impairment test every three years, irrespective of the outcome of the Company's qualitative assessment. The quantitative goodwill impairment test is performed using a two-step process. The first step of the process is to compare the fair value of a reporting unit with its carrying amount, including goodwill. 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 impairme |
Acquisitions And Dispositions
Acquisitions And Dispositions | 12 Months Ended |
Dec. 31, 2016 | |
Business Combinations [Abstract] | |
Acquisitions And Dispositions | ACQUISITIONS AND DISPOSITIONS Acquisitions Eurosport International and France On December 21, 2012, the Company acquired a 20% equity method investment in Eurosport, which includes both Eurosport International and Eurosport France. On May 30, 2014 , the Company acquired an additional 31% equity in Eurosport International to obtain a controlling interest in Eurosport International for € 259 million ($ 351 million ). On March 31, 2015 the Company acquired an additional 31% interest in Eurosport France for €36 million ( $38 million ). These transactions gave the Company a 51% controlling stake in Eurosport. The Company recognized gains of $2 million and $29 million for the years ended December 31, 2015 and 2014 , respectively, to account for the difference between the carrying value and the fair value of the previously held 20% equity method investments in Eurosport France and Eurosport International. The gains were included in other income (expense), net in the Company's consolidated statements of operations. (See Note 18.) On October 1, 2015 , TF1 put its remaining 49% interest in Eurosport to the Company for €491 million ( $548 million ). (See Note 11.) Eurosport is a leading pan-European sports media platform. 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 and Eurosportnews. The acquisitions are intended to enhance the Company's pay-TV offerings in Europe and increase the growth of Eurosport. The Company used a discounted cash flow ("DCF") analysis, which represent Level 3 fair value measurements, to assess certain components of the Eurosport purchase price allocations. The fair value of the assets acquired, liabilities assumed, noncontrolling interests recognized and the remeasurement gains recorded on the previously held equity interests is presented in the table below (in millions). Eurosport France Eurosport International March 31, 2015 May 30, 2014 Goodwill $ 69 $ 785 Intangible assets 40 467 Other assets acquired 25 169 Cash 35 47 Removal of TF1 put right 2 27 Currency translation adjustment (6 ) 7 Remeasurement gain on previously held equity interest (2 ) (29 ) Liabilities assumed (30 ) (169 ) Deferred tax liabilities (14 ) (164 ) Redeemable noncontrolling interest (Note 11) (60 ) (558 ) Carrying value of previously held equity interest (21 ) (231 ) Net assets acquired $ 38 $ 351 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 is included in the International Networks reportable segment and 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. 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-TV 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 of acquiring a controlling interest, 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 of the Company's previously held equity interest in Discovery Family was equal to the carrying amount 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 Company rebranded the network to Discovery Family 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). September 23, 2014 Goodwill $ 310 Intangible assets 301 Other assets acquired 96 Cash 33 Liabilities assumed (125 ) Redeemable noncontrolling interest (Note 11) (238 ) Carrying value of previously held equity interest (313 ) Net assets acquired $ 64 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 is included in the U.S. Networks reportable segment and 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. Other In 2015 , the Company acquired several other unrelated businesses for total cash and contingent consideration of $91 million , net of cash acquired. Total consideration, net of cash acquired, included contingent consideration of $13 million as of December 31, 2015 , $2 million of which was paid during 2016 . The Company recorded $54 million and $43 million of goodwill and intangible assets, respectively, in connection with these acquisitions. The acquisitions included FTA networks in Italy and Turkey, cable networks in Denmark and a pay-TV sports channel in Asia. The goodwill reflects the synergies and regional market penetration from combining the operations of these acquisitions with the Company's operations. 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 included $2 million of contingent consideration. 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 company in the U.K. and cable networks in New Zealand. The goodwill reflects the synergies and market expansion from combining the operations of these acquisitions with the Company's operations. Pro Forma Financial Information The following table presents the unaudited pro forma results of the Company as though all of the business combinations from 2014 had been made on January 1, 2013. The Company had no 2016 business combinations, and the Company's 2015 business combinations are not material individually or in the aggregate and have not been included in the pro forma table. These pro forma results do not necessarily represent what would have occurred if all the business combinations had taken place on January 1, 2014, 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 for the full year 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, 2014, 4) the Company removed content impairments resulting from the consolidation and subsequent rebranding of Discovery Family from 2014, 5) the Company removed the gains recognized upon the consolidation of previously held equity interests in 2014, 6) the Company removed losses on derivative instruments and other market value adjustments recognized in connection with business combinations and previously held equity interests, 7) the Company adjusted for transaction costs of $4 million incurred in 2014, 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 Revenues $ 6,559 Net income $ 1,168 Impact 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 their revenue and earnings as reported within the consolidated financial statements for the year ended December 31, 2014 (in millions). Year Ended December 31, 2014 Revenues: Distribution $ 220 Advertising 84 Other 72 Total revenues 376 Net income $ 9 Dispositions Seeker and SourceFed On December 2, 2016 , the Company recorded a pre-tax gain of $50 million upon deconsolidation of its digital network Seeker and production studio SourceFed, following its contribution of the businesses and $100 million in cash for the formation of a new joint venture, Group Nine Media, Inc. ("Group Nine Media"). Group Nine Media includes Thrillist Media Group, NowThis Media and TheDodo.com. As a result of the transaction, Discovery obtained a 39% ownership interest in the preferred stock of Group Nine Media, which is accounted for under the cost method of accounting. (See Note 4.) The gain on contribution of the digital networks business included the write off of $32 million in net assets, including $22 million of goodwill allocated to the transaction based on the relative fair values of the digital networks business disposed and the portion of the U.S. Networks reporting unit that was retained. Russia On October 7, 2015 , Discovery recorded a loss of $5 million upon the deconsolidation of its Russian business following its contribution to a joint venture (the “New Russian Business”) with a Russian media company, National Media Group ("NMG"). The New Russian Business was established to comply with changes in Russian legislation that limit foreign ownership of media companies in Russia. No cash consideration was exchanged in the transaction. NMG contributed a FTA license which enables advertising for the New Russian Business. As part of the transaction, Discovery obtained a 20% ownership interest in the New Russian Business, which is accounted for under the equity method of accounting. The loss on contribution of the Russian business included $15 million of goodwill allocated to the transaction based on the relative fair values of the Russian business disposed of and the portion of the reporting unit that was retained. Although Discovery no longer consolidates the Russian business, Discovery earns revenue by providing content and brands to the New Russian Business under long-term licensing arrangements (Note 19). The Russian business was included in the International Networks reportable segment; the licensing arrangements with the New Russian Business are reported as distribution revenue in the International Networks reportable segment. (See Note 21.) Radio On June 30, 2015 , Discovery sold its radio businesses in Northern Europe to Bauer Media Group ("Bauer") for total consideration, net of cash disposed of €72 million ( $80 million ), which included €54 million ( $61 million ) in cash and €18 million ( $19 million ) of contingent consideration. The cumulative gain on the disposal of $1 million included $26 million of goodwill allocated to the transaction based on the relative fair values of the radio business disposed of and the portion of the reporting unit that was retained. The Company recorded a $12 million loss including estimated contingent consideration as disclosed for the year ended December 31, 2015 . Based on the final resolution and receipt of contingent consideration payable, Discovery recorded a pre-tax gain of $13 million for the year ended December 31, 2016 . The Company determined that the disposal did not meet the definition of a discontinued operation because it did not represent a strategic shift that had a significant impact on the Company's operations and consolidated financial results. The income before income taxes impact of the Company's radio businesses was zero and a loss of $5 million and for the years ended December 31, 2015 and 2014 , respectively. The Company's radio businesses were included in the International Networks reportable segment. 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 included in the U.S. Networks reportable segment. The Company determined that the disposal did not meet the definition of a discontinued operation due to the migration of sales to its remaining digital businesses. |
Investments
Investments | 12 Months Ended |
Dec. 31, 2016 | |
Investments [Abstract] | |
Investments | INVESTMENTS The Company’s investments consisted of the following (in millions). December 31, Category Balance Sheet Location 2016 2015 Trading securities: Mutual funds Prepaid expenses and other current assets $ 160 $ 149 Equity method investments Equity method investments, including note receivable 557 567 Available-for-sale securities: Common stock Other noncurrent assets 64 81 Common stock - pledged Other noncurrent assets 64 81 Cost method investments Other noncurrent assets 245 43 Total investments $ 1,090 $ 921 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 14.) Equity Method Investments 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. 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 Oprah Winfrey Network ("OWN"), because the Company has recorded losses in excess of its ownership interest, and certain investments in renewable energy projects accounted for using the HLBV methodology under the equity method of accounting. Certain of the Company's equity method investments are VIEs, for which the Company is not the primary beneficiary. As of December 31, 2016 , the Company’s maximum estimated exposure for all its VIEs including the investment carrying values, unfunded contractual commitments, and guarantees made on behalf of VIEs was approximately $709 million . The Company's maximum estimated exposure excludes the non-contractual future funding of VIEs. The aggregate carrying values of these VIE equity method investments were $426 million and $423 million as of December 31, 2016 and 2015 , respectively. The Company recognized its portion of net earnings generated by VIEs of $7 million , $30 million and $45 million for 2016 , 2015 and 2014 , respectively, in income from equity investees, net on the consolidated statements of operations. OWN OWN is a pay-TV 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, 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 content licenses and services, such as distribution, sales and administrative support, for a fee and has provided OWN funding. (See Note 19.) The carrying value of the Company's investment in OWN of $320 million and $373 million as of December 31, 2016 and December 31, 2015 , respectively, includes the Company's note receivable and accumulated investment losses. The Company's combined advances to and note receivable from OWN, including accrued interest, were $311 million and $384 million as of December 31, 2016 and December 31, 2015 , respectively. On April 30, 2015 , Oprah Winfrey agreed to extend her exclusivity agreement with OWN and the note receivable agreement was modified to reduce its interest rate, compounded annually, from 7.5% to 5.0% , retroactive to January 1, 2014. During 2016 , the Company received net repayments of $87 million from OWN and accrued interest on the note receivable of $14 million . During 2015 , the Company received net repayments of $82 million from OWN and accrued interest on the note receivable of $23 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. 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. In accordance with the venture agreement, losses generated by OWN are allocated to both investors based on their proportionate ownership interests. However, the Company has recorded its portion of OWN’s losses based upon accounting rules 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 record 100% of any net losses to the extent they occur resulting from OWN's 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 net income has been and will continue to be recorded by the Company until the Company recovers losses absorbed in excess of the Company's equity ownership interest. The Company also 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. Based on the joint venture agreement, as amended on April 1, 2016, 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 during a 90-day windows beginning on April 1, 2017 and every two and a half years commencing July 1, 2018 through January 1, 2026. The maximum put amount ranges from $100 million on the first put exercise date up to a cumulative cap of $400 million on the fifth 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, 2016 and December 31, 2015 . Renewable Energy Investments During December 2016 , the Company invested $63 million in limited liability companies that sponsor renewable energy projects related to solar energy. The Company expects this investment to result in tax benefits received, which reduce the Company's tax liability, and cash flows from the operation of the investee. These investments are considered VIEs of the Company. The Company does not consolidate the investments as the Company does not have the power to direct the activities that will most significantly impact their economic performance such as the investee's ability to obtain sufficient customers. Once a stipulated return on investment is garnered by the Company, the investment allocations to the Company are significantly reduced. Accordingly, the Company accounts for these investments under the equity method of accounting and applies the HLBV method for recognizing the Company's proportionate share of the investments' net earnings or losses. (See Note 2.) During 2016 , the Company recognized $24 million of losses on these investments as part of (loss) income from equity investees, net in the consolidated statements of operations. The Company received $26 million of benefit from the entities' investment tax credits and passive losses recorded, which are recorded as a component of income tax expense. As of December 31, 2016 , the Company's carrying value of renewable energy investments was $39 million and the Company has made $238 million of future funding commitments for these investments. Other Equity Method Investments The Company acquired other equity method investments and made additional contributions to existing equity method investments totaling $91 million during 2016 . At December 31, 2016 , the Company's other equity method investments included Mega TV, a FTA channel in Chile, a digital publisher in Latin America, the New Russian Business, All3Media and certain joint ventures in Canada. On March 31, 2015 and May 30, 2014 , the Company acquired from TF1 a controlling interest in each of its Eurosport France and Eurosport International equity method investments, respectively, by increasing its ownership stake from 20% to 51% . As a result, the Company changed its accounting for Eurosport France and Eurosport International from equity method investments to consolidated subsidiaries as of their respective acquisition dates. (See Note 3.) On October 1, 2015 , the Company acquired the remaining 49% of Eurosport upon TF1's exercise of its right to put. (See Note 11.) Available-for-Sale Securities ("AFS") On November 12, 2015, the Company acquired 5 million shares, or 3.4% , of Lions Gate Entertainment Corp. ("Lionsgate"), an entertainment company, for $195 million . Lionsgate operates in the motion picture production and distribution, television programming and syndication, home entertainment, family entertainment and digital distribution businesses. As the shares have a readily determinable fair value and the Company has the intent to retain the investment, the shares are classified as AFS securities. The accumulated amounts associated with the components of the Company's AFS securities, which are included in other non-current assets, are summarized in the table below. December 31, 2016 2015 Cost $ 195 $ 195 Change in value of the hedged AFS recognized in other income (expense), net (19 ) (2 ) Other-than-temporary impairment of AFS securities (62 ) — Unhedged AFS - other comprehensive (loss) income 14 (31 ) Carrying value $ 128 $ 162 The Company hedged 50% of the shares with an equity collar (the “Lionsgate Collar”) and pledged those shares as collateral to the derivative counter party. In the application of hedge accounting, when the share price of Lionsgate is within the boundaries of the collar and the hedge has no intrinsic value, the Company records the gains or losses on the Lionsgate AFS securities as a component of other comprehensive (loss) income . When the share price of the Lionsgate AFS is outside the boundaries of the collar and the hedge has intrinsic value, the Company records a gain or loss for the change in the fair value of the hedged portion of Lionsgate shares that correspond to the change in intrinsic value of the hedge as a component of other income (expense), net . (See Note 10.) As of September 30, 2016 , the Company determined that the decline in value of AFS securities related to its investment in Lionsgate was other-than-temporary in nature and, as such, the cost basis was adjusted to fair value. The impairment determination was based on the sustained decline in the stock price of Lionsgate in relation to the purchase price and the prolonged length of time the fair value of the investment has been less than the carrying value. Based on the other-than-temporary impairment determination, unrealized pre-tax losses of $62 million previously recorded as a component of other comprehensive (loss) income were recognized as an impairment charge that is included as a component of other income (expense), net for the year ended December 31, 2016 . Since September 30, 2016, the increase in stock price has been recorded as a component of other comprehensive (loss) income . Cost Method Investments The Company's cost method investments as of December 31, 2016 primarily include its 39% minority interest in Group Nine Media (see Note 3), which is valued at $182 million as of December 31, 2016 . Although Discovery has significant influence through its voting rights in the preferred stock of Group Nine Media, the Company will apply the cost method for its ownership interest, which does not meet the definition of in-substance common stock. The Company also has investments in an educational website and an electric car racing series. The Company increased its cost method investments by $18 million for the year ended December 31, 2016 , primarily from additional investments in the electric car racing series. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Dec. 31, 2016 | |
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, 2016 Category Balance Sheet Location Level 1 Level 2 Level 3 Total Assets: Trading securities - mutual funds Prepaid expenses and other current assets $ 160 $ — $ — $ 160 Available-for-sale securities: Common stock Other noncurrent assets 64 — — 64 Common stock - pledged Other noncurrent assets 64 — — 64 Derivatives: Cash flow hedges: Foreign exchange Prepaid expenses and other current assets — 31 — 31 Net investment hedges: Cross-currency swaps Other noncurrent assets — 35 — 35 Fair value hedges: Equity (Lionsgate Collar) Other noncurrent assets — 25 — 25 No hedging designation: Cross-currency swaps Other noncurrent assets — 1 — 1 Total $ 288 $ 92 $ — $ 380 Liabilities: Deferred compensation plan Accrued liabilities $ 160 $ — $ — $ 160 Derivatives: Cash flow hedges: Foreign exchange Accrued liabilities — 18 — 18 Net investment hedges: Cross-currency swaps Accrued liabilities — 3 — 3 Cross-currency swaps Other noncurrent liabilities — 31 — 31 Total $ 160 $ 52 $ — $ 212 December 31, 2015 Category Balance Sheet Location Level 1 Level 2 Level 3 Total Assets: Trading securities - mutual funds Prepaid expenses and other current assets $ 149 $ — $ — $ 149 Available-for-sale securities: Common stock Other noncurrent assets 81 — — 81 Common stock - pledged Other noncurrent assets 81 — — 81 Derivatives: Cash flow hedges: Foreign exchange Prepaid expenses and other current assets — 21 — 21 Foreign exchange Other noncurrent assets — 2 — 2 Fair value hedges: Equity (Lionsgate Collar) Other noncurrent assets — 15 — 15 Total $ 311 $ 38 $ — $ 349 Liabilities: Deferred compensation plan Accrued liabilities $ 149 $ — $ — $ 149 Derivatives: Foreign exchange Accrued liabilities — 4 — 4 Total $ 149 $ 4 $ — $ 153 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 deferred compensation plan liability was determined based on the fair value of the related investments elected by employees. AFS securities represent equity investments with readily determinable fair values. The fair value of Level 1 AFS 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. (See Note 4). Derivative financial instruments are comprised of foreign exchange, interest rate and equity contracts. See Note 10 for the determination of the fair value of the Level 2 derivatives. In addition to the financial instruments listed in the tables above, the Company has 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 senior notes, each approximated their fair values as of December 31, 2016 and December 31, 2015 . The estimated fair value of the Company’s outstanding senior notes using quoted prices from over the counter markets, considered Level 2 inputs, was $7.4 billion and $ 6.6 billion as of December 31, 2016 and 2015 , respectively. |
Content Rights
Content Rights | 12 Months Ended |
Dec. 31, 2016 | |
Content Rights [Abstract] | |
Content Rights | CONTENT RIGHTS The following table presents the components of content rights (in millions). December 31, 2016 2015 Produced content rights: Completed $ 3,920 $ 3,624 In-production 420 376 Coproduced content rights: Completed 632 691 In-production 57 62 Licensed content rights: Acquired 1,090 1,078 Prepaid 129 96 Content rights, at cost 6,248 5,927 Accumulated amortization (3,849 ) (3,584 ) Total content rights, net 2,399 2,343 Current portion (310 ) (313 ) Noncurrent portion $ 2,089 $ 2,030 Content expense is included in costs of revenues on the consolidated statements of operations and consisted of the following (in millions). For the year ended December 31, 2016 2015 2014 Content amortization $ 1,701 $ 1,628 $ 1,462 Other production charges 272 231 155 Content impairments (a) 72 81 95 Total content expense $ 2,045 $ 1,940 $ 1,712 (a) Content impairments are generally recorded as a component of costs of revenue. However during the years ended December 31, 2016, 2015 and 2014 , content impairments of $ 7 million , $21 million , and $55 million , respectively, were reflected as a component of restructuring and other charges. These charges resulted from the cancellation of certain series due to legal circumstances pertaining to the associated talent and from the consolidation and subsequent rebranding of The Hub Network to Discovery Family in 2014. (See Note 15.) As of December 31, 2016 , the Company estimates that approximately 96% 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, 2016 , the Company will amortize $ 958 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, 2016 | |
Property, Plant and Equipment [Abstract] | |
Property And Equipment | PROPERTY AND EQUIPMENT Property and equipment consisted of the following (in millions). December 31, 2016 2015 Land, buildings and leasehold improvements $ 327 $ 338 Broadcast equipment 607 603 Capitalized software costs 347 311 Office equipment, furniture, fixtures and other 333 309 Property and equipment, at cost 1,614 1,561 Accumulated depreciation (1,132 ) (1,073 ) Property and equipment, net $ 482 $ 488 Property and equipment includes assets acquired under capital lease arrangements, primarily satellite transponders classified as broadcast equipment, with gross carrying values of $284 million and $271 million as of December 31, 2016 and 2015 , respectively. The related accumulated amortization for capital lease assets was $155 million and $142 million as of December 31, 2016 and 2015 , respectively. The net book value of capitalized software costs was $96 million and $90 million as of December 31, 2016 and 2015 , respectively. Depreciation expense for property and equipment, including amortization of capitalized software costs and capital lease assets, totaled $139 million , $138 million and $131 million for 2016 , 2015 and 2014 , 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 $122 million , $134 million and $143 million for 2016 , 2015 and 2014 , respectively. |
Goodwill And Intangible Assets
Goodwill And Intangible Assets | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill And Intangible Assets | GOODWILL AND INTANGIBLE ASSETS Goodwill Changes in the carrying value of goodwill were as follows (in millions). U.S. Networks International Networks Education and Other Total December 31, 2014 $ 5,287 $ 2,869 $ 80 $ 8,236 Acquisitions (Note 3) — 123 — 123 Dispositions (Note 3) — (41 ) — (41 ) Foreign currency translation — (151 ) (3 ) (154 ) December 31, 2015 5,287 2,800 77 8,164 Dispositions (Note 3) (22 ) — — (22 ) Foreign currency translation — (92 ) (10 ) (102 ) December 31, 2016 $ 5,265 $ 2,708 $ 67 $ 8,040 The carrying amount of goodwill at the U.S. Networks segment included accumulated impairments of $20 million as of December 31, 2016 and 2015 , respectively. Intangible Assets Finite-lived intangible assets consisted of the following (in millions, except years). Weighted Average Amortization Period (Years) December 31, 2016 December 31, 2015 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Intangible assets subject to amortization: Trademarks 10 $ 412 $ (165 ) $ 247 $ 433 $ (130 ) $ 303 Customer relationships 17 1,632 (594 ) 1,038 1,664 (481 ) 1,183 Other 14 97 (34 ) 63 105 (25 ) 80 Total $ 2,141 $ (793 ) $ 1,348 $ 2,202 $ (636 ) $ 1,566 Indefinite-lived intangible assets not subject to amortization (in millions): December 31, 2016 2015 Intangible assets not subject to amortization: Trademarks $ 164 $ 164 Straight-line amortization expense for finite-lived intangible assets reflects the pattern in which the assets' economic benefits are consumed over their estimated useful lives. Amortization expense related to finite-lived intangible assets was $183 million , $192 million and $198 million for 2016 , 2015 and 2014 , 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). 2017 2018 2019 2020 2021 Thereafter Amortization expense $ 165 $ 155 $ 151 $ 147 $ 125 $ 605 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 As of November 30, 2016 , the Company performed a quantitative goodwill impairment assessment for all reporting units. Due to the period of time elapsed since the last quantitative impairment test in 2013, the Company elected to proceed to the first step of the quantitative goodwill impairment test. 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. 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. The market-based valuation models utilized multiples of earnings before interest, taxes, depreciation and amortization. Both the DCF and market-based models resulted in substantially similar fair values. As of November 30, 2015 and 2014 , the Company performed a qualitative goodwill impairment assessment for all reporting units, and determined that it was more likely than not that the fair value of those reporting units exceeded their carrying values. |
Debt
Debt | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Debt | DEBT The table below presents the components of outstanding debt (in millions). December 31, 2016 2015 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 314 328 3.30% Senior notes, semi-annual interest, due May 2022 500 500 3.25% Senior notes, semi-annual interest, due April 2023 350 350 3.45% Senior notes, semi-annual interest, due March 2025 300 300 4.90% Senior notes, semi-annual interest, due March 2026 500 — 1.90% Senior notes, euro denominated, annual interest, due March 2027 627 656 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 550 782 Commercial paper 48 93 Capital lease obligations 151 142 Total debt 7,990 7,801 Unamortized discount and debt issuance costs (67 ) (66 ) Debt, net 7,923 7,735 Current portion of debt (82 ) (119 ) Noncurrent portion of debt $ 7,841 $ 7,616 Senior Notes On March 11, 2016 , Discovery Communications, LLC ("DCL"), a wholly-owned subsidiary of the Company, issued $ 500 million principal amount of 4.90% senior notes due March 11, 2026 (the "2016 USD Notes"). The proceeds received by DCL from the offering were net of a $2 million issuance discount and $3 million of debt issuance costs. Interest on the 2016 USD Notes is payable semi-annually on March 11 and September 11 of each year. All senior notes are unsecured and are fully and unconditionally guaranteed by Discovery. Revolving Credit Facility On February 4, 2016 , DCL amended its $1.5 billion revolving credit facility to allow DCL and certain designated foreign subsidiaries of DCL to borrow up to $2.0 billion , including a $100 million sublimit for the issuance of standby letters of credit and a $50 million sublimit for swingline loans. Borrowing capacity under this agreement is reduced by any outstanding borrowings under the commercial paper program discussed below. The revolving credit facility agreement provides for a maturity date of February 4, 2021 , and the option for up to two additional 364-day renewal periods. As of December 31, 2016 , the Company had outstanding borrowings under the revolving credit facility of $550 million at a weighted average interest rate of 2.05% , none of which were denominated in foreign currencies. As of December 31, 2015 , the Company had outstanding borrowings under the revolving credit facility of $782 million at a weighted average interest rate of 1.55% , of which $207 million was denominated in foreign currencies. The interest rate on borrowings under the revolving credit facility is variable based on DCL's then-current credit ratings for its publicly traded debt and changes in financial index rates. 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. For borrowings denominated in foreign currencies, the interest rate is based on adjusted LIBOR, plus a margin. The current margins are 1.30% and 0.30% , 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 0.20% 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, 2016 , 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 The Company's commercial paper program is supported by the revolving credit facility described above. Outstanding commercial paper borrowings were $48 million with a weighted average interest rate of approximately 1.20% as of December 31, 2016 and $93 million with a weighted average interest rate of approximately 1.10% as of December 31, 2015 . The Company's outstanding commercial paper borrowings as of December 31, 2016 and 2015 had 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, 2016 (in millions). 2017 2018 2019 2020 2021 Thereafter Long-term debt repayments $ — $ — $ 500 $ 1,300 $ 650 $ 4,791 Scheduled payments for capital lease obligations outstanding as of December 31, 2016 are disclosed in Note 20. |
Derivative Financial Instrument
Derivative Financial Instruments | 12 Months Ended |
Dec. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | DERIVATIVE FINANCIAL INSTRUMENTS The Company uses derivative financial instruments to modify its exposure to market risks from changes in foreign currency exchange rates, interest rates and the fair value of investments classified as AFS securities. At the inception of a derivative contract, the Company designates the derivative as (i) a cash flow hedge, (ii) a net investment hedge, (iii) a fair value hedge, or (iv) an instrument with no hedging designation. The Company does not enter into or hold derivative financial instruments for speculative trading purposes. Cash Flow Hedges The Company designates foreign currency forward and option contracts as cash flow hedges to mitigate foreign currency risk arising from third-party revenue and inter-company licensing agreements. The Company also designates interest rate contracts used to hedge the pricing for certain senior notes as cash flow hedges. The total notional amount of outstanding foreign exchange contracts designated as cash flow hedges as of December 31, 2016 and 2015 was $677 million and $868 million , respectively. During the three months ended December 31, 2016, the Company terminated and settled its outstanding interest rate cash flow hedges which resulted in a $40 million pretax gain. As the hedges were considered to be effective and the forecasted transactions are considered probable of occurring, the gain will remain in accumulated other comprehensive loss and will be amortized as a reduction to interest expense over the term of the forecasted senior notes. There were no interest rate contracts outstanding as of December 31, 2015 . During the three months ended September 30, 2016, the Company discontinued hedge accounting for certain foreign currency forward and option cash flow hedges with notional and fair value amounts of $125 million and $14 million , respectively. At that time, the occurrence of the forecasted intercompany transactions was no longer considered probable, but was still reasonably possible of occurring. The change in probability was the result of new tax regulations that impacted the planned intercompany transactions that were hedged. As a result of the change in probability, subsequent changes in the fair value of these hedges were reflected immediately in other income (expense), net on the consolidated statements of operations. The result was a $1 million gain recognized on the consolidated statements of operations for the period until November 1, 2016, when the forecasted transactions were once again considered probable, as it was determined that no changes to the forecasted intercompany transactions would occur. Accordingly, any changes in the fair value of these hedges subsequent to that date will remain in accumulated other comprehensive loss until earnings are impacted by the forecasted transaction, at which time they will be reclassified to other income (expense), net on the consolidated statements of operations. During the three months ended March 31, 2015 , the Company terminated and settled its interest rate cash flow hedges following the pricing of its 3.45% senior notes due March 15, 2025 (the "2015 USD Notes"). The total notional value of the interest rate forward contracts at the termination date was $490 million , which exceeded the $300 million principal amount of the 2015 USD Notes. Of the $40 million pretax loss recorded in accumulated other comprehensive loss at the termination date, $29 million was an effective cash flow hedge that will be amortized as an adjustment to interest expense over the ten year term of the 2015 USD Notes consistent with amortization of the debt discount. The remaining $11 million was reclassified into other income (expense), net on the consolidated statements of operations during the year ended December 31, 2015, because the forecasted borrowing transaction was no longer probable. Net Investment Hedges In 2016, the Company entered into a series of cross-currency swaps designated as hedges of net investments in foreign operations. Changes in the fair value of these cross-currency swaps, including the accrual and periodic cash settlement of interest, are reported in the same manner as translation adjustments to the extent that they are effective. Changes in the value of the investment due to changes in spot rates are offset by fair value changes in the effective portion of the derivative instruments. The notional amount of net investment hedges outstanding as of December 31, 2016 was $751 million . There were no derivative contracts designated as net investment hedges outstanding as of December 31, 2015 . Fair Value Hedges The Company designates derivative instruments used to mitigate the risk of changes in the fair value of its AFS securities as fair value hedges. On November 12, 2015, the Company entered into the Lionsgate Collar, designed to mitigate the risk of market fluctuations with respect to 50% of the Lionsgate shares held by the Company. (See Note 4.) The collar, which qualifies for hedge accounting, settles in three tranches starting in 2019 and ending in 2022. The notional amount of fair value hedges outstanding was $97 million as of December 31, 2016 and 2015 . No Hedging Designation The Company may also enter into derivative financial instruments that do not qualify for hedge accounting and are not designated as hedges. These instruments are intended to mitigate economic exposures of the Company. The total notional amount of outstanding cross-currency and interest rate contracts with no hedging designation as of December 31, 2016 was $64 million and $25 million , respectively. There were no derivative contracts that did not receive hedging designation outstanding as of December 31, 2015 . Financial Statement Presentation The Company records all unsettled derivative contracts at their gross fair values on the consolidated balance sheets. (See Note 5.) The portion of the fair value that represents cash flows occurring within one year are classified as current, and the portion related to cash flows occurring beyond one year are classified as noncurrent. The following table summarizes the impact of derivative financial instruments on the Company's consolidated balance sheets (in millions). There were no amounts eligible to be offset under master netting agreements as of December 31, 2016 and December 31, 2015 . Fair Value Category Balance Sheet Location December 31, 2016 December 31, 2015 Cash flow hedges: Foreign exchange Prepaid expenses and other current assets $ 31 $ 21 Foreign exchange Other noncurrent assets — 2 Foreign exchange Accrued liabilities 18 4 Net investment hedges: Cross-currency swaps Other noncurrent assets 35 — Cross-currency swaps Accrued liabilities 3 — Cross-currency swaps Other noncurrent liabilities 31 — Fair value hedges: Equity (Lionsgate collar) Other noncurrent assets 25 15 No hedging designation: Cross-currency swaps Other noncurrent assets 1 — 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, 2016 2015 2014 (Losses) gains recognized in accumulated other comprehensive loss Foreign exchange - derivative adjustments $ (1 ) $ 34 $ 14 Interest rate - derivative adjustments 40 (11 ) (28 ) (Losses) gains reclassified into income from accumulated other comprehensive loss (effective portion) Foreign exchange - distribution revenue (25 ) 23 — Foreign exchange - advertising revenue (2 ) 2 — Foreign exchange - costs of revenues 27 9 1 Foreign exchange - other income (expense), net 3 4 3 Interest rate - interest expense (3 ) (3 ) — Gains (losses) reclassified into income from accumulated other comprehensive loss (ineffective portion) Foreign exchange - other income (expense), net 1 — — Interest rate - other income (expense), net — (11 ) — Fair value excluded from effectiveness assessment: Foreign exchange - other income (expense), net (5 ) — — If current fair values of designated cash flow hedges as of December 31, 2016 remained static over the next twelve months, the Company would reclassify $9 million of net deferred gains from accumulated other comprehensive loss into income in the next twelve months. The following table presents the pretax impact of derivatives designated as net investment hedges on other comprehensive (loss) income (in millions). Year Ended December 31, 2016 2015 2014 Gains recognized in accumulated other comprehensive loss: Cross-currency swaps - changes in fair value $ 1 $ — $ — Cross-currency swaps - interest settlements 2 — — Total in other comprehensive loss $ 3 $ — $ — The following table presents the pretax impact of derivatives designated as fair value hedges on income, including offsetting changes in fair value of the hedged items and amounts excluded from the assessment of effectiveness (in millions). The Company recognized $1 million of ineffectiveness on fair value hedges for the year ended December 31, 2016 . The Company had no outstanding fair value hedges during the year ended December 31, 2014. Year Ended December 31, 2016 2015 2014 Losses on changes in fair value of hedged AFS $ (17 ) $ (2 ) $ — Gains on changes in the intrinsic value of equity contracts 16 2 — Fair value of equity contracts excluded from effectiveness assessment (6 ) 10 — Total in other income (expense), net $ (7 ) $ 10 $ — The following table presents the pretax (losses) gains on derivatives not designated as hedges and recognized in other expense, net in the consolidated statements of operations (in millions). Year Ended December 31, 2016 2015 2014 Foreign exchange derivatives $ (1 ) $ 6 $ 1 |
Redeemable Noncontrolling Inter
Redeemable Noncontrolling Interest | 12 Months Ended |
Dec. 31, 2016 | |
Noncontrolling Interest [Abstract] | |
Redeemable Noncontrolling Interest | REDEEMABLE NONCONTROLLING INTERESTS 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 including any remeasurement necessary 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. Any adjustment of redemption value to the floor that reflects a redemption in excess of fair value is included as an adjustment to net income available to Discovery stockholders in the calculation of earnings per share. There were no current period adjustments to reflect a redemption in excess of fair value. (See Note 17.) The table below presents the reconciliation of changes in redeemable noncontrolling interests (in millions). December 31, 2016 2015 2014 Beginning balance $ 241 $ 747 $ 36 Initial fair value of redeemable noncontrolling interests of acquired businesses — 60 796 Purchase of subsidiary shares at fair value — (551 ) (6 ) Cash distributions to redeemable noncontrolling interests (22 ) (42 ) (2 ) Comprehensive (loss) income adjustments: Net income (loss) attributable to redeemable noncontrolling interests 23 13 (4 ) Other comprehensive earnings (loss) attributable to redeemable noncontrolling interests — (23 ) (40 ) Currency translation on redemption values 1 (36 ) (64 ) Retained earnings adjustments: Adjustments to redemption value — 73 31 Ending balance $ 243 $ 241 $ 747 Redeemable noncontrolling interests consist of the arrangements described below: In connection with the acquisition of a controlling interest in Eurosport France on March 31, 2015 and Eurosport International on May 30, 2014 , the Company recognized $60 million and $ 558 million , respectively, for TF1's 49% redeemable noncontrolling interest in each entity. On July 22, 2015, TF1 exercised its right to put the entirety of its remaining 49% noncontrolling interest in both Eurosport France and Eurosport International to the Company for €491 million ( $551 million as of the date redemption became mandatory, and $548 million on October 1, 2015 when the transaction closed). The difference between the carrying amount of the redeemable noncontrolling interest and its fair value at the date of exercise resulted in a €25 million ( $28 million ) adjustment to retained earnings, recognized as a component of redeemable noncontrolling interest adjustments to redemption value on the consolidated statements of equity for the year ended December 31, 2015 . Upon acquisition of TF1's noncontrolling interest on October 1, 2015 , the Company adjusted the accumulated other comprehensive income balance of $61 million attributable to TF1 and allocated it to Discovery stockholders. In connection with its non-controlling 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 redeemable noncontrolling interest is a function of the then current fair market value of the redeemable noncontrolling 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. In connection with its non-controlling interest in Discovery Japan, Jupiter Telecommunications Co., Ltd. ("J:COM") has the right to put all, but not less than all, of its 20% noncontrolling interest to Discovery at any time for cash. Through January 10, 2017 , the redemption value is the January 10, 2013 fair value denominated in Japanese yen; thereafter, as chosen by J:COM, the redemption value is the then current fair value or the January 10, 2013 fair value denominated in Japanese yen. |
Equity
Equity | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Equity | EQUITY Common Stock The Company has three series of common stock authorized, issued and outstanding as of December 31, 2016 : 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 CEO, certain voting and purchase rights with respect to the approximately 6 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, privately negotiated transactions at prevailing prices, 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. As of December 31, 2016 , the total amount authorized under the stock repurchase program was $7.5 billion , and the Company had remaining authorization of approximately $1.1 billion for future repurchases under the existing stock repurchase program, which will expire on October 8, 2017 . All common stock repurchases, including prepaid common stock repurchase contracts, during 2016 , 2015 and 2014 were made through open market transactions. As of December 31, 2016 , the Company had repurchased over the life of the program 3 million and 150 million shares of Series A and Series C common stock, respectively, for the aggregate purchase price of $171 million and $6.2 billion , respectively. The table below presents a summary of common stock repurchases (in millions). Year Ended December 31, 2016 2015 2014 Series C Common Stock: Shares repurchased 34.8 23.7 21.3 Purchase price (a) $ 895 $ 698 $ 1,232 (a) The purchase price for Series C common stock includes repurchases made pursuant to a common stock repurchase contract that was executed on August 22, 2016 and settled on December 2, 2016 at a cost of $71 million , resulting in the receipt of 2.8 million shares of Series C common stock at the then current market price equal to $75 million . See below for additional details. Repurchased common stock is recorded as treasury stock on the consolidated balance sheet. The Company's 2 for 1 stock split in the form of a share dividend distributed on August 6, 2014 was not applied to the Company's treasury shares. 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. Common Stock Repurchase Contracts In 2016 the Company entered into two common stock repurchase contracts for the Company's Series C common stock. On December 15, 2016 , the Company made an up front cash payment of $57 million for a Series C common stock repurchase contract, with a strike price of $28.16 , that will settle during the quarter ended March 31, 2017 . If Discovery's Series C common stock price is below the strike price at expiry, the Company will receive 2 million shares of its Series C common stock. If Discovery's Series C common stock price is above the strike price at expiry, the Company can elect to receive $60 million in cash or the number of shares of Series C common stock at the then current market price equal to $60 million . On December 2, 2016 , the Company settled an August 22, 2016 common stock repurchase contract with a net notional value of $71 million whose strike price of $25.86 was below the Series C common stock price at expiry. The Company elected to settle the contract through receipt of 2.8 million shares of Series C common stock at the then current market price equal to $75 million . The receipt of shares is reflected as a component of treasury stock and reclassified from additional paid-in capital at the prepaid cost of $71 million . Convertible Preferred Stock The Company has two series of preferred stock authorized, issued and outstanding as of December 31, 2016 : 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 shares 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, 2016 , 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 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, following the August 2014 stock split in the form of a stock dividend, into one share of Series A common stock and one share of Series C common stock, subject to anti-dilution adjustments. The Series C preferred stock is convertible, at the option of the holder, into two shares of Series C common stock. At the request of Advance/Newhouse and in accordance with the Company's Articles of Incorporation, the Company converted 292,500 and 961,538 shares of Advance/Newhouse Series C convertible preferred stock into 585,000 and 1,923,076 shares of Series C common stock on February 25, 2016 and December 2, 2016 , respectively. 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. 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 Repurchases On May 22, 2014 , the Company entered into 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. 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. The table below presents a summary of Series C convertible preferred stock repurchases made under the repurchase agreement (in millions). Year Ended December 31, 2016 2015 Series C Convertible Preferred Stock: Shares repurchased 9.1 3.9 Purchase price $ 479 $ 253 Based on the number of shares of Series C common stock purchased during the three months ended December 31, 2016 , the Company expects Advance/Newhouse to effectively convert and sell to the Company 1 million shares of its Series C convertible preferred stock for an aggregate purchase price of $60 million on or about February 16, 2017 . The expected purchase of these shares has not been recognized as a liability on the Company's consolidated balance sheet as of December 31, 2016 due to certain termination rights in the repurchase agreement held by Discovery and Advance/Newhouse. Stock Repurchases As of December 31, 2016 , total shares repurchased, on a split-adjusted and as-converted basis, under these programs represent 36% of the Company's outstanding shares from the time the repurchase programs were authorized or 31% net of issuances for equity based compensation. 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, 2016 Year Ended December 31, 2015 Year Ended December 31, 2014 Pretax Tax Benefit (Expense) Net-of-tax Pretax Tax Benefit (Expense) Net-of-tax Pretax Tax Benefit(Expense) Net-of-tax Currency translation adjustments: Unrealized losses - foreign currency $ (234 ) $ 41 $ (193 ) $ (249 ) $ 19 $ (230 ) $ (401 ) $ 9 $ (392 ) Unrealized gains - net investment hedge 3 (1 ) 2 — — — — — — Reclassifications: Gain on disposition — — — 23 — 23 — — — Other income (expense), net — — — 6 — 6 (7 ) — (7 ) Total currency translation adjustments (231 ) 40 (191 ) (220 ) 19 (201 ) (408 ) 9 (399 ) Market value adjustments: Unrealized (losses) gains - AFS securities (34 ) 6 (28 ) (33 ) 6 (27 ) 2 (1 ) 1 Reclassifications: Gain on disposition — — — — — — (5 ) 2 (3 ) Other-than-temporary-impairment AFS securities 62 (10 ) 52 — — — — — — Hedged portion of AFS securities 17 (3 ) 14 2 — 2 — — — Total market value adjustments 45 (7 ) 38 (31 ) 6 (25 ) (3 ) 1 (2 ) Derivative adjustments: Gains (losses) in other comprehensive loss 39 (14 ) 25 23 (8 ) 15 (14 ) 6 (8 ) Reclassifications: Distribution revenue 25 (7 ) 18 (23 ) 8 (15 ) — — — Advertising revenue 2 — 2 (2 ) — (2 ) — — — Costs of revenues (27 ) 7 (20 ) (9 ) 3 (6 ) (1 ) — (1 ) Interest expense 3 (1 ) 2 3 (1 ) 2 — — — Other income (expense), net (4 ) 1 (3 ) 7 (2 ) 5 (3 ) 1 (2 ) Total derivative adjustments 38 (14 ) 24 (1 ) — (1 ) (18 ) 7 (11 ) Other comprehensive loss $ (148 ) $ 19 $ (129 ) $ (252 ) $ 25 $ (227 ) $ (429 ) $ 17 $ (412 ) Accumulated Other Comprehensive Loss The table below presents the changes in the components of accumulated other comprehensive loss, net of taxes (in millions). Currency Translation Adjustments Market Value Adjustments Derivative Adjustments Accumulated Other Comprehensive Income (Loss) December 31, 2013 $ (8 ) $ — $ 12 $ 4 Other comprehensive (loss) income before reclassifications (392 ) 1 (8 ) (399 ) Reclassifications from accumulated other comprehensive loss to net income (7 ) (3 ) (3 ) (13 ) Other comprehensive loss (399 ) (2 ) (11 ) (412 ) Other comprehensive loss attributable to redeemable noncontrolling interests 40 — — 40 December 31, 2014 (367 ) (2 ) 1 (368 ) Other comprehensive (loss) income before reclassifications (230 ) (27 ) 15 (242 ) Reclassifications from accumulated other comprehensive loss to net income 29 2 (16 ) 15 Other comprehensive loss (201 ) (25 ) (1 ) (227 ) Purchase of redeemable noncontrolling interest (61 ) — — (61 ) Other comprehensive loss attributable to redeemable noncontrolling interests 23 — — 23 December 31, 2015 (606 ) (27 ) — (633 ) Other comprehensive (loss) income before reclassifications (191 ) (28 ) 25 (194 ) Reclassifications from accumulated other comprehensive loss to net income — 66 (1 ) 65 Other comprehensive (loss) income (191 ) 38 24 (129 ) December 31, 2016 $ (797 ) $ 11 $ 24 $ (762 ) |
Equity-Based Compensation
Equity-Based Compensation | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Equity-Based Compensation | EQUITY-BASED COMPENSATION The Company has various incentive plans under which stock options, RSUs, PRSUs, SARs and unit awards have been issued. As of December 31, 2016 , the Company has reserved a total of 120 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 99 million shares of common stock in reserves that were available for future grant under the incentive plans as of December 31, 2016 . Equity-Based Compensation Expense The table below presents the components of equity-based compensation expense (in millions). Year Ended December 31, 2016 2015 2014 PRSUs $ 34 $ 16 $ 46 RSUs 17 17 14 Stock options 13 17 23 SARs 4 (14 ) (11 ) ESPP 1 1 1 Unit awards — (2 ) 5 Total equity-based compensation expense $ 69 $ 35 $ 78 Tax benefit recognized $ 25 $ 13 $ 27 Compensation expense for all awards was recorded in selling, general and administrative expense on the consolidated statements of operations. Liability-classified equity-based compensation awards include certain PRSUs, SARS and unit awards. The Company recorded total liabilities for cash-settled and other liability-classified equity-based compensation awards of $83 million and $54 million as of December 31, 2016 and 2015 , respectively. The current portion of the liability for cash-settled awards was $31 million and $5 million as of December 31, 2016 and 2015 , respectively. Equity-Based Award Activity PRSUs The table below presents PRSU activity (in millions, except years and weighted-average grant price). PRSUs Weighted-Average Grant Price Weighted-Average Remaining Contractual Term (years) Aggregate Fair Value Outstanding as of December 31, 2015 4.2 $ 35.07 Granted 1.0 $ 25.15 Converted (0.6 ) $ 22.32 $ 15 Forfeited (0.1 ) $ 36.05 Outstanding as of December 31, 2016 4.5 $ 34.44 0.6 $ 121 Vested and expected to vest as of December 31, 2016 4.4 $ 34.56 0.6 $ 119 Convertible as of December 31, 2016 0.9 $ 30.23 — $ 23 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 21), 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 certain 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 or in situations where the executive is able to withhold taxes in excess of the minimum statutory requirement, 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, 2016 , unrecognized compensation cost, net of expected forfeitures, related to PRSUs was $20 million , which is expected to be recognized over a weighted-average period of 0.7 years based on the Company’s current assessment of the PRSUs that will vest, which may differ from actual results. RSUs The table below presents RSU activity (in millions, except years and weighted-average grant price). RSUs Weighted-Average Grant Price Weighted-Average Remaining Contractual Term (years) Aggregate Fair Value Outstanding as of December 31, 2015 2.0 $ 34.62 Granted 1.4 $ 25.22 Converted (0.4 ) $ 33.41 $ 10 Forfeited (0.4 ) $ 32.45 Outstanding as of December 31, 2016 2.6 $ 30.03 2.7 $ 73 Vested and expected to vest as of December 31, 2016 2.4 $ 30.17 2.6 $ 64 RSUs represent the contingent right to receive shares of the Company's Series A and C common stock, substantially all of which vest ratably each year over periods of one to four years based on continuous service. As of December 31, 2016 , there was $43 million of unrecognized compensation cost, net of expected forfeitures, related to RSUs, which is expected to be recognized over a weighted-average period of 2.8 years . Stock Options The table below presents stock option activity (in millions, except years and weighted-average exercise price). Stock Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (years) Aggregate Intrinsic Value Outstanding as of December 31, 2015 15.3 $ 24.01 Granted 3.0 $ 25.71 Exercised (3.4 ) $ 13.95 $ 42 Forfeited (1.2 ) $ 33.67 Outstanding as of December 31, 2016 13.7 $ 26.05 3.5 $ 59 Vested and expected to vest as of December 31, 2016 13.2 $ 25.94 3.6 $ 59 Exercisable as of December 31, 2016 8.0 $ 23.21 2.2 $ 54 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 seven 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 $46 million , $16 million and $35 million during 2016 , 2015 and 2014 , respectively. As of December 31, 2016 , there was $29 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 2.1 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 2016 , 2015 and 2014 were as follows. Year Ended December 31, 2016 2015 2014 Risk-free interest rate 1.26 % 1.54 % 1.53 % Expected term (years) 5.0 5.0 5.0 Expected volatility 28.74 % 26.78 % 26.20 % Dividend yield — — — The weighted-average grant date fair value of options granted during 2016 , 2015 and 2014 was $7.09 , $8.44 and $19.73 , respectively, per option. The total intrinsic value of options exercised during 2016 , 2015 and 2014 was $42 million , $28 million and $63 million , respectively. SARs The table below presents SAR award activity (in millions, except years and weighted-average grant price). SARs Weighted- Average Grant Price Weighted- Average Remaining Contractual Term (years) Aggregate Intrinsic Value Outstanding as of December 31, 2015 10.4 $ 37.38 Granted 2.4 $ 25.79 Settled (0.9 ) $ 20.67 $ 5 Forfeited (3.3 ) $ 38.65 Outstanding as of December 31, 2016 8.6 $ 35.29 1.0 $ 3 Vested and expected to vest as of December 31, 2016 8.6 $ 35.30 1.0 $ 3 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. 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, 2016 2015 2014 Risk-free interest rate 0.95 % 0.83 % 0.59 % Expected term (years) 0.9 1.0 1.3 Expected volatility 29.46 % 31.59 % 27.72 % Dividend yield — — — As of December 31, 2016 and 2015, the weighted-average fair value of SARs outstanding was $1.79 and $1.15 per award. The Company made cash payments of $5 million , $11 million and $29 million to settle exercised SARs during 2016 , 2015 and 2014 , respectively. As of December 31, 2016 , there was $8 million of unrecognized compensation cost, net of estimated forfeitures, related to SARs, which is expected to be recognized over a weighted-average period of 0.8 years . Unit Awards 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. During the year ended December 31, 2015 , the Company made cash payments of $14 million to settle all 1.2 million remaining unit awards, which had a weighted-average grant price of $20.59 . 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 9 million shares of the Company’s common stock to be issued under the DESPP. During the years ended December 31, 2016 , 2015 and 2014 the Company issued 191 thousand , 208 thousand and 191 thousand shares under the DESPP, respectively, and received cash totaling $4 million , $ 5 million and $6 million , respectively. |
Retirement Savings Plans
Retirement Savings Plans | 12 Months Ended |
Dec. 31, 2016 | |
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 makes contributions including discretionary contributions, subject to plan provisions, which vest immediately. The Company made total contributions of $29 million , $36 million and $33 million during 2016 , 2015 and 2014 , 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 5.) |
Restructuring And Other Charges
Restructuring And Other Charges | 12 Months Ended |
Dec. 31, 2016 | |
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, 2016 2015 2014 U.S. Networks $ 15 $ 33 $ 61 International Networks 26 14 24 Education and Other 3 2 3 Corporate 14 1 2 Total restructuring and other charges $ 58 $ 50 $ 90 Year Ended December 31, 2016 2015 2014 Restructuring charges $ 55 $ 29 $ 35 Other charges 3 21 55 Total restructuring and other charges $ 58 $ 50 $ 90 Restructuring charges relate to management changes, cost reduction efforts and contract terminations. Other charges during 2016 and 2015 result from content impairments primarily at the Company's U.S. Networks segment due to the cancellation of certain series as a result of legal circumstances pertaining to the associated talent. Additionally, the consolidation and subsequent rebranding of Discovery Family resulted in content impairments in 2014 that were reflected as a component of restructuring and other (See Note 6). Changes in restructuring and other liabilities by major category were as follows (in millions). Contract Terminations Employee Relocations/ Terminations Total December 31, 2013 $ 2 $ 5 $ 7 Net accruals 3 32 35 Cash paid (1 ) (22 ) (23 ) December 31, 2014 4 15 19 Net accruals 3 26 29 Cash paid (5 ) (20 ) (25 ) December 31, 2015 2 21 23 Net accruals 3 52 55 Cash paid (2 ) (37 ) (39 ) December 31, 2016 $ 3 $ 36 $ 39 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | INCOME TAXES The domestic and foreign components of income before income taxes were as follows (in millions). Year Ended December 31, 2016 2015 2014 Domestic $ 1,414 $ 1,281 $ 1,251 Foreign 257 278 496 Income before income taxes $ 1,671 $ 1,559 $ 1,747 The components of the provision for income taxes were as follows (in millions). Year Ended December 31, 2016 2015 2014 Current: Federal $ 384 $ 306 $ 529 State and local (56 ) 57 64 Foreign 152 146 198 480 509 791 Deferred: Federal 45 59 (112 ) State and local — (10 ) (16 ) Foreign (72 ) (47 ) (53 ) (27 ) 2 (181 ) Income taxes $ 453 $ 511 $ 610 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 $659 million at December 31, 2016 . 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, 2016 2015 2014 U.S. federal statutory income tax rate 35 % 35 % 35 % State and local income taxes, net of federal tax benefit (2 )% 2 % 2 % Effect of foreign operations (1 )% 1 % 2 % Domestic production activity deductions (4 )% (3 )% (3 )% Change in uncertain tax positions — % (1 )% (1 )% Renewable energy investments tax credits (1 )% — % — % Other, net — % (1 )% — % Effective income tax rate 27 % 33 % 35 % Components of deferred income tax assets and liabilities were as follows (in millions). December 31, 2016 2015 Deferred income tax assets: Accounts receivable $ 2 $ 2 Tax attribute carry-forward 67 46 Unrealized loss on derivatives and foreign currency translation adjustments — (5 ) Accrued liabilities and other 174 223 Total deferred income tax assets 243 266 Valuation allowance (25 ) (19 ) Net deferred income tax assets 218 247 Deferred income tax liabilities: Intangible assets (384 ) (460 ) Content rights (166 ) (143 ) Equity method investments (76 ) (88 ) Notes receivable (7 ) (8 ) Other (32 ) (18 ) Total deferred income tax liabilities (665 ) (717 ) Net deferred income tax liabilities $ (447 ) $ (470 ) The Company’s net deferred income tax assets and liabilities were reported on the consolidated balance sheets as follows (in millions). December 31, 2016 2015 Deferred income tax assets (a) $ 106 $ 86 Deferred income tax liabilities (553 ) (556 ) Net deferred income tax liabilities $ (447 ) $ (470 ) (a) As of December 31, 2016 and December 31, 2015 , deferred income tax assets include $9 million and $18 million in noncurrent deferred income tax assets, respectively, which are reflected as a component of other noncurrent assets on the consolidated balance sheet. The Company’s loss carry-forwards were reported on the consolidated balance sheets as follows (in millions). State Foreign Loss carry-forwards (a) $ 724 $ 169 Deferred tax asset related to loss carry-forwards 10 37 Valuation allowance against loss carry-forwards (7 ) (18 ) Earliest expiration date of loss carry-forwards 2017 2018 (a) The Company had no Federal loss carry-forwards reported on the consolidated balance sheets as of December 31, 2016 . A reconciliation of the beginning and ending amounts of unrecognized tax benefits (without related interest and penalty amounts) is as follows (in millions). Year Ended December 31, 2016 2015 2014 Beginning balance $ 173 $ 176 $ 185 Additions based on tax positions related to the current year 13 30 40 Additions for tax positions of prior years 19 17 82 Additions for tax positions acquired in business combinations — 3 6 Reductions for tax positions of prior years (60 ) (21 ) (129 ) Settlements (16 ) (16 ) — Reductions due to lapse of statutes of limitations (9 ) (13 ) (8 ) Reductions due to foreign currency exchange rates (3 ) (3 ) — Ending balance $ 117 $ 173 $ 176 The balances as of December 31, 2016 , 2015 and 2014 included $117 million , $173 million and $176 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, 2016 , increases in unrecognized tax benefits related to the uncertainty of allocation and taxation of income among multiple jurisdictions was offset by the movements of tax positions as a result of multiple audit resolutions and lapse of statutes of limitations. The Company and its subsidiaries file income tax returns in the U.S. and various state and foreign jurisdictions. The Internal Revenue Service recently completed audit procedures for its 2008 to 2011 tax years, the results of which should be finalized in the coming year. The Company is currently under audit by the Internal Revenue Service for its 2012 to 2014 consolidated federal income tax returns. It is difficult to predict the final outcome or timing of resolution of any particular tax matter. Accordingly, an estimate of any related impact to the reserve for uncertain tax positions cannot currently be determined. With few exceptions, the Company is no longer subject to audit by any jurisdiction for years prior to 2006. Adjustments that arose from the completion of audits for certain tax years have been included in the change in uncertain tax positions in the table above. During the year ended December 31, 2016 , the Company resolved multi-year state tax positions that resulted in a reduction of reserves related to uncertain tax positions. The effect is included within the effective tax rate reconciliation as a component of changes in state and local income taxes, net of federal tax benefit. 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 $16 million within the next twelve months as a result of ongoing audits, lapses of statutes of limitations or regulatory developments. As of December 31, 2016 , 2015 and 2014 , the Company had accrued approximately $11 million , $20 million and $17 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, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | EARNINGS PER SHARE In calculating earnings per share, the Company follows the two-class method, which distinguishes between the classes of 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 respect to income available to Discovery Communications, Inc. The table below sets forth the computation for income available to Discovery Communications, Inc. stockholders (in millions). Year Ended December 31, 2016 2015 2014 Numerator: Net income $ 1,218 $ 1,048 $ 1,137 Less: Allocation of undistributed income to Series A convertible preferred stock (278 ) (224 ) (236 ) Net income attributable to noncontrolling interests (1 ) (1 ) (2 ) Net (income) loss attributable to redeemable noncontrolling interests (23 ) (13 ) 4 Redeemable noncontrolling interest adjustments to redemption value — — (1 ) Net income available to Discovery Communications, Inc. Series A, B and C common and Series C convertible preferred stockholders for basic net income per share $ 916 $ 810 $ 902 Allocation of net income available to Discovery Communications Inc. Series A, B and C common stockholders and Series C convertible preferred stockholders for basic net income per share: Series A, B and C common stockholders 789 686 758 Series C convertible preferred stockholders 127 124 144 Total 916 810 902 Add: Allocation of undistributed income to Series A convertible preferred stockholders 278 224 236 Net income available to Discovery Communications, Inc. Series A, B and C common stockholders for diluted net income per share $ 1,194 $ 1,034 $ 1,138 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. For the years ended December 31, 2016 , 2015 and 2014 , net income available to Discovery Communications, Inc. Series C convertible preferred stockholders for diluted net income per share was $126 million , $123 million and $143 million , respectively. 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, 2016 2015 2014 Denominator: Weighted average Series A, B and C common shares outstanding — basic 401 432 454 Weighted average impact of assumed preferred stock conversion 206 219 227 Weighted average dilutive effect of equity awards 3 5 6 Weighted average Series A, B and C common shares outstanding — diluted 610 656 687 Weighted average Series C convertible preferred stock outstanding — basic and diluted 32 39 43 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 equity-based compensation. The table below sets forth the Company's calculated earnings per share. Year Ended December 31, 2016 2015 2014 Basic net income per share available to Discovery Communications, Inc. Series A, B and C common and Series C convertible preferred stockholders: Series A, B and C common stockholders $ 1.97 $ 1.59 $ 1.67 Series C convertible preferred stockholders $ 3.94 $ 3.18 $ 3.34 Diluted net income per share available to Discovery Communications, Inc. Series A, B and C common and Series C convertible preferred stockholders: Series A, B and C common stockholders $ 1.96 $ 1.58 $ 1.66 Series C convertible preferred stockholders $ 3.92 $ 3.16 $ 3.32 Series C convertible preferred earnings per share amounts may not recalculate due to rounding. 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, 2016 2015 2014 Anti-dilutive stock options and RSUs 8 6 4 PRSUs whose performance targets have not yet been achieved 4 3 3 Anti-dilutive common stock repurchase contracts (See Note 12.) 2 — — Anti-dilutive awards are not included in the dilutive effect calculation. 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. |
Supplemental Disclosures
Supplemental Disclosures | 12 Months Ended |
Dec. 31, 2016 | |
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 of Year Additions Write-offs Utilization End of Year 2016 Allowance for doubtful accounts $ 40 $ 13 $ (6 ) $ — $ 47 Deferred tax valuation allowance 19 9 (3 ) — 25 2015 Allowance for doubtful accounts 39 8 (7 ) — 40 Deferred tax valuation allowance 13 6 — — 19 2014 Allowance for doubtful accounts 16 28 (5 ) — 39 Deferred tax valuation allowance 18 1 (5 ) (1 ) 13 Accrued Liabilities Accrued liabilities consisted of the following (in millions). December 31, 2016 2015 Accrued payroll and related benefits $ 486 $ 449 Content rights payable 173 217 Accrued interest 67 61 Accrued income taxes 34 30 Current portion of equity-based compensation liabilities 31 5 Other accrued liabilities 284 226 Total accrued liabilities $ 1,075 $ 988 Other Income (Expense), net Other income (expense), net , consisted of the following (in millions). Year Ended December 31, 2016 2015 2014 Foreign currency gains (losses), net $ 75 $ (103 ) $ (22 ) (Losses) gains on derivative instruments (12 ) 5 1 Remeasurement gain on previously held equity interest — 2 29 Other expense, net: Other-than-temporary impairment of AFS investments (62 ) — — Other 3 (1 ) (17 ) Other expense, net (59 ) (1 ) (17 ) Total other income (expense), net $ 4 $ (97 ) $ (9 ) Equity-Based Plan Proceeds, Net Equity-based plan proceeds, net in the statement of cash flows consisted of the following (in millions). Year Ended December 31, 2016 2015 2014 Tax settlements associated with equity-based plans $ (11 ) $ (27 ) $ (27 ) Proceeds from issuance of common stock in connection with equity-based plans 50 21 41 Excess tax benefits from equity-based compensation 7 12 30 Total equity-based plan proceeds, net $ 46 $ 6 $ 44 Supplemental Cash Flow Information Year Ended December 31, 2016 2015 2014 Cash paid for taxes, net $ 527 $ 653 $ 686 Cash paid for interest, net 343 312 315 Noncash investing and financing activities: Contributions of business and assets for strategic ventures Fair value of investment received, net of cash paid 82 — — Net asset value of contributed business 32 — — Contingent consideration obligations from business acquisitions — 13 — Accrued purchases of property and equipment 42 12 13 Contingent consideration receivable from business dispositions — 6 — Assets acquired under capital lease arrangements 37 5 43 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2016 | |
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 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 24% of the aggregate voting power with respect to the election of directors of Liberty Global. Mr. Malone is also Chairman of the Board of Liberty Broadband and beneficially owns approximately 46% of the aggregate voting power with respect to the election of directors of Liberty Broadband. The majority of the revenue earned from the Liberty Group relates to multi-year network distribution arrangements. Related party transactions also include revenues and expenses for content and services provided to or acquired from equity method investees, such as OWN and All3Media and the New Russian Business or minority partners of consolidated subsidiaries. Following the Company's consolidation of Discovery Family on September 23, 2014, transactions with Hasbro Studios, a subsidiary of Hasbro, for content purchased are reflected as related party expenses. The table below presents a summary of the transactions with related parties (in millions). Year Ended December 31, 2016 2015 2014 Revenues and service charges: Liberty Group (a) $ 387 $ 171 $ 157 Equity method investees (b) 129 62 104 Other 32 35 34 Total revenues and service charges $ 548 $ 268 $ 295 Interest income (c) $ 17 $ 23 $ 33 Expenses $ (102 ) $ (67 ) $ (37 ) (a) The increase for the year ended December 31, 2016 reflects the May 2016 acquisition of Time Warner Cable, Inc. by Charter Communications, an equity method investee of the Liberty Group and other changes in Liberty Group's businesses. (b) The increases to revenue from equity method investees for the year ended December 31, 2016 and to the receivable balance as of December 31, 2016 both relate to the joint venture agreement with NMG in October 2015 for the New Russian Business. (See Note 3.) (c) The Company records interest earnings from loans to equity method investees as a component of income 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, 2016 2015 Receivables (b) $ 109 $ 37 Note receivable (See Note 4.) 311 384 |
Commitments And Contingencies
Commitments And Contingencies | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES Contractual Commitments As of December 31, 2016 , 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 2017 $ 56 $ 41 $ 939 $ 546 $ 1,582 2018 50 24 524 257 855 2019 37 22 438 199 696 2020 22 19 628 150 819 2021 12 17 244 41 314 Thereafter 21 61 825 121 1,028 Total minimum payments 198 184 3,598 1,314 5,294 Amounts representing interest — (33 ) — — (33 ) Total $ 198 $ 151 $ 3,598 $ 1,314 $ 5,261 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 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, but do not include compensation contingent on future events. Although the Company had funding commitments to equity method investees as of December 31, 2016 , the Company may also provide uncommitted additional funding to its equity method investments in the future. (See Note 4.) The Company also has the conditional obligation to issue or acquire additional shares of preferred stock. (See Note 12.) Contingencies Put Rights The Company has granted put rights related to an equity method investment and certain 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.) Hasbro and J:COM have the right to require the Company to purchase their remaining noncontrolling interests in Discovery Family and Discovery Japan, respectively. The Company recorded the value of the put rights for Discovery Family and Discovery Japan as a component of redeemable equity in the amounts of $216 million and $27 million , respectively. (See Note 11.) Legal Matters The Company is party to various other 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 other matters will have a material adverse effect on the Company's consolidated financial position, future results of operations or cash flows. Guarantees There were no guarantees recorded as of December 31, 2016 and December 31, 2015 . 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, 2016 and 2015 . |
Reportable Segments
Reportable Segments | 12 Months Ended |
Dec. 31, 2016 | |
Segment Reporting [Abstract] | |
Reportable Segments | REPORTABLE SEGMENTS The Company’s operating 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. 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 operating income 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, (vi) gains and losses on business and asset dispositions, and (vii) certain inter-segment eliminations related to production studios. 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. Total 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 Year Ended December 31, 2016 2015 2014 U.S. Networks $ 3,285 $ 3,131 $ 2,950 International Networks 3,040 3,092 3,157 Education and Other 174 173 160 Corporate and inter-segment eliminations (2 ) (2 ) (2 ) Total revenues $ 6,497 $ 6,394 $ 6,265 Adjusted OIBDA Year Ended December 31, 2016 2015 2014 U.S. Networks $ 1,922 $ 1,774 $ 1,680 International Networks 848 961 1,124 Education and Other (10 ) (2 ) 6 Corporate and inter-segment eliminations (334 ) (335 ) (319 ) Total Adjusted OIBDA $ 2,426 $ 2,398 $ 2,491 Reconciliation of Net Income available to Discovery Communications, Inc. to total Adjusted OIBDA Year Ended December 31, 2016 2015 2014 Net income available to Discovery Communications, Inc. $ 1,194 $ 1,034 $ 1,139 Net income attributable to redeemable noncontrolling interests 23 13 (4 ) Net income attributable to noncontrolling interests 1 1 2 Income tax expense 453 511 610 Income before income taxes 1,671 1,559 1,747 Other (income) expense, net (4 ) 97 9 Loss (income) from equity investees, net 38 (1 ) (23 ) Interest expense 353 330 328 Operating income 2,058 1,985 2,061 (Gain) loss on disposition (63 ) 17 (31 ) Restructuring and other charges 58 50 90 Depreciation and amortization 322 330 329 Mark-to-market equity-based compensation 38 — 31 Amortization of deferred launch incentives 13 16 11 Total Adjusted OIBDA $ 2,426 $ 2,398 $ 2,491 Total Assets December 31, 2016 2015 U.S. Networks $ 3,412 $ 3,295 International Networks 4,946 5,151 Education and Other 399 520 Corporate and inter-segment eliminations 7,001 6,898 Total assets $ 15,758 $ 15,864 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. The goodwill allocated from corporate assets to U.S. Networks and International Networks to account for goodwill is included in the goodwill balances disclosed in Note 8. Content Amortization and Impairment Expense Year Ended December 31, 2016 2015 2014 U.S. Networks $ 756 $ 771 $ 732 International Networks 1,008 931 826 Education and Other 9 7 4 Corporate and inter-segment eliminations — — (5 ) Total content amortization and impairment expense $ 1,773 $ 1,709 $ 1,557 Content amortization and impairment expenses are generally included in costs of revenues on the consolidated statements of operations (see Note 6). Revenues by Country Year Ended December 31, 2016 2015 2014 U.S. $ 3,411 $ 3,261 $ 3,081 Non-U.S. 3,086 3,133 3,184 Total revenues $ 6,497 $ 6,394 $ 6,265 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, 2016 2015 U.S. $ 258 $ 252 U.K. 107 129 Other non-U.S. 117 107 Total property and equipment, net $ 482 $ 488 Property and equipment balances are allocated to each country based on the location of the asset. |
Selected Quarterly Financial Da
Selected Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2016 | |
Selected Quarterly Financial Information [Abstract] | |
Selected Quarterly Financial Data (Unaudited) | SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) 2016 (a) 1 st quarter 2 nd quarter 3 rd quarter 4 th quarter Revenues $ 1,561 $ 1,708 $ 1,556 $ 1,672 Operating income 489 586 458 525 Net income 269 415 225 309 Net income available to Discovery Communications, Inc. 263 408 219 304 Earnings per share available to Discovery Communications, Inc. Series A, B and C common stockholders Basic $ 0.42 $ 0.66 $ 0.37 $ 0.52 Diluted $ 0.42 $ 0.66 $ 0.36 $ 0.52 2015 (b) 1 st quarter 2 nd quarter 3 rd quarter 4 th quarter Revenues $ 1,537 $ 1,654 $ 1,557 $ 1,646 Operating income 482 557 505 441 Net income 250 289 283 226 Net income available to Discovery Communications, Inc. 250 286 279 219 Earnings per share available to Discovery Communications, Inc. Series A, B and C common stockholders Basic $ 0.38 $ 0.44 $ 0.43 $ 0.34 Diluted $ 0.37 $ 0.44 $ 0.43 $ 0.34 (a) On September 30, 2016, the Company recorded an other-than-temporary impairment of $62 million related to its investment in Lionsgate. On December 2, 2016, the Company acquired a 39% minority interest in Group Nine Media, a newly formed media holding company, in exchange for contributions of $100 million and the Company's digital businesses Seeker and SourceFed, resulting in a gain of $50 million upon deconsolidation of the businesses. (See Note 3.) (b) 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. On March 31, 2015, the Company completed its acquisition of an additional 31% interest in Eurosport France upon resolution of certain regulatory matters. On June 30, 2015, the Company disposed of its radio operations in SBS Nordic. (See Note 3.) |
Condensed Consolidating Financi
Condensed Consolidating Financial Statements | 12 Months Ended |
Dec. 31, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Consolidating Financial Statements | CONDENSED CONSOLIDATING FINANCIAL INFORMATION Overview As of December 31, 2016 and 2015 , all of the outstanding senior notes have been issued by DCL, a wholly-owned subsidiary of Discovery Communications Holding LLC (“DCH”), which is a wholly-owned subsidiary of the Company, pursuant to one or more Registration Statements on Form S-3 filed with the U.S. Securities and Exchange Commission ("SEC"). (See Note 9.) The Company fully and unconditionally guarantees the senior notes on an unsecured basis. Each of the Company, DCH, and/or DCL (collectively the “Issuers”) may issue additional debt securities under the Company's current Registration Statement on Form S-3 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. The Company's 2016 minority investment in Group Nine Media and all related financial activity is included within the DCL issuer entity in the accompanying condensed consolidated financial statements. (See Note 4.) 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, 2016 (in millions) Discovery DCH DCL Non-Guarantor Other Non- Reclassifications Discovery and ASSETS Current assets: Cash and cash equivalents $ — $ — $ 20 $ 280 $ — $ — $ 300 Receivables, net — — 421 1,074 — — 1,495 Content rights, net — — 8 302 — — 310 Deferred income taxes — — 42 55 — — 97 Prepaid expenses and other current assets 62 36 180 119 — — 397 Inter-company trade receivables, net — — 195 — — (195 ) — Total current assets 62 36 866 1,830 — (195 ) 2,599 Investment in and advances to subsidiaries 5,106 5,070 7,450 — 3,417 (21,043 ) — Noncurrent content rights, net — — 663 1,426 — — 2,089 Goodwill, net — — 3,769 4,271 — — 8,040 Intangible assets, net — — 272 1,240 — — 1,512 Equity method investments, including note receivable — — 30 527 — — 557 Other noncurrent assets, including property and equipment, net — 20 306 655 — (20 ) 961 Total assets $ 5,168 $ 5,126 $ 13,356 $ 9,949 $ 3,417 $ (21,258 ) $ 15,758 LIABILITIES AND EQUITY Current liabilities: Current portion of debt $ — $ — $ 52 $ 30 $ — $ — $ 82 Other current liabilities — — 516 963 — — 1,479 Inter-company trade payables, net — — — 195 — (195 ) — Total current liabilities — — 568 1,188 — (195 ) 1,561 Noncurrent portion of debt — — 7,315 526 — — 7,841 Other noncurrent liabilities 1 — 403 542 20 (20 ) 946 Total liabilities 1 — 8,286 2,256 20 (215 ) 10,348 Redeemable noncontrolling interests — — — 243 — — 243 Total equity 5,167 5,126 5,070 7,450 3,397 (21,043 ) 5,167 Total liabilities and equity $ 5,168 $ 5,126 $ 13,356 $ 9,949 $ 3,417 $ (21,258 ) $ 15,758 CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2015 (in millions) Discovery DCH DCL Non-Guarantor Other Non- Reclassifications Discovery and ASSETS Current assets: Cash and cash equivalents $ — $ — $ 3 $ 387 $ — $ — $ 390 Receivables, net — — 435 1,044 — — 1,479 Content rights, net — — 9 304 — — 313 Deferred income taxes — — 36 32 — — 68 Prepaid expenses and other current assets 47 26 163 110 — — 346 Inter-company trade receivables, net — — 74 — — (74 ) — Total current assets 47 26 720 1,877 — (74 ) 2,596 Investment in and advances to subsidiaries 5,406 5,381 7,539 — 3,618 (21,944 ) — Noncurrent content rights, net — — 601 1,429 — — 2,030 Goodwill, net — — 3,769 4,395 — — 8,164 Intangible assets, net — — 290 1,440 — — 1,730 Equity method investments, including note receivable — — 25 542 — — 567 Other noncurrent assets, including property and equipment, net — 20 103 674 — (20 ) 777 Total assets $ 5,453 $ 5,427 $ 13,047 $ 10,357 $ 3,618 $ (22,038 ) $ 15,864 LIABILITIES AND EQUITY Current liabilities: Current portion of debt $ — $ — $ 98 $ 21 $ — $ — $ 119 Other current liabilities — — 470 990 — — 1,460 Inter-company trade payables, net — — — 74 — (74 ) — Total current liabilities — — 568 1,085 — (74 ) 1,579 Noncurrent portion of debt — — 6,724 892 — — 7,616 Other noncurrent liabilities 2 — 374 600 21 (20 ) 977 Total liabilities 2 — 7,666 2,577 21 (94 ) 10,172 Redeemable noncontrolling interests — — — 241 — — 241 Total equity 5,451 5,427 5,381 7,539 3,597 (21,944 ) 5,451 Total liabilities and equity $ 5,453 $ 5,427 $ 13,047 $ 10,357 $ 3,618 $ (22,038 ) $ 15,864 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the Year Ended December 31, 2016 (in millions) Discovery DCH DCL Non-Guarantor Other Non- Reclassifications Discovery and Revenues $ — $ — $ 1,963 $ 4,547 $ — $ (13 ) $ 6,497 Costs of revenues, excluding depreciation and amortization — — 466 1,970 — (4 ) 2,432 Selling, general and administrative 14 — 292 1,393 — (9 ) 1,690 Depreciation and amortization — — 41 281 — — 322 Restructuring and other charges — — 28 30 — — 58 Gain on disposition — — (50 ) (13 ) — — (63 ) Total costs and expenses 14 — 777 3,661 — (13 ) 4,439 Operating (loss) income (14 ) — 1,186 886 — — 2,058 Equity in earnings of subsidiaries 1,203 1,203 602 — 802 (3,810 ) — Interest expense — — (332 ) (21 ) — — (353 ) Loss from equity investees, net — — (3 ) (35 ) — — (38 ) Other income (expense), net — — 40 (36 ) — — 4 Income before income taxes 1,189 1,203 1,493 794 802 (3,810 ) 1,671 Income tax benefit (expense) 5 — (290 ) (168 ) — — (453 ) Net income 1,194 1,203 1,203 626 802 (3,810 ) 1,218 Net income attributable to noncontrolling interests — — — — — (1 ) (1 ) Net income attributable to redeemable noncontrolling interests — — — — — (23 ) (23 ) Net income available to Discovery Communications, Inc. $ 1,194 $ 1,203 $ 1,203 $ 626 $ 802 $ (3,834 ) $ 1,194 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the Year Ended December 31, 2015 (in millions) Discovery DCH DCL Non-Guarantor Other Non- Reclassifications Discovery and Revenues $ — $ — $ 1,909 $ 4,498 $ — $ (13 ) $ 6,394 Costs of revenues, excluding depreciation and amortization — — 500 1,847 — (4 ) 2,343 Selling, general and administrative 15 — 265 1,398 — (9 ) 1,669 Depreciation and amortization — — 35 295 — — 330 Restructuring and other charges — — 28 22 — — 50 Loss on disposition — — — 17 — — 17 Total costs and expenses 15 — 828 3,579 — (13 ) 4,409 Operating (loss) income (15 ) — 1,081 919 — — 1,985 Equity in earnings of subsidiaries 1,044 1,044 505 — 696 (3,289 ) — Interest expense — — (318 ) (12 ) — — (330 ) Income (loss) from equity method investees, net — — 4 (3 ) — — 1 Other income (expense), net — — 9 (106 ) — — (97 ) Income before income taxes 1,029 1,044 1,281 798 696 (3,289 ) 1,559 Income tax benefit (expense) 5 — (237 ) (279 ) — — (511 ) Net income 1,034 1,044 1,044 519 696 (3,289 ) 1,048 Net income attributable to noncontrolling interests — — — — — (1 ) (1 ) Net income attributable to redeemable noncontrolling interests — — — — — (13 ) (13 ) Net income available to Discovery Communications, Inc. $ 1,034 $ 1,044 $ 1,044 $ 519 $ 696 $ (3,303 ) $ 1,034 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the Year Ended December 31, 2014 (in millions) Discovery DCH DCL Non-Guarantor Other Non- Reclassifications Discovery and 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 method investees, net — — 10 13 — — 23 Other income (expense), net — — 36 (45 ) — — (9 ) Income before income taxes 1,133 1,148 1,431 892 765 (3,622 ) 1,747 Income tax benefit (expense) 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 loss 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 COMPREHENSIVE INCOME For the Year Ended to December 31, 2016 (in millions) Discovery DCH DCL Non-Guarantor Other Non- Reclassifications Discovery and Net income $ 1,194 $ 1,203 $ 1,203 $ 626 $ 802 $ (3,810 ) $ 1,218 Other comprehensive (loss) income, net of tax: Currency translation adjustments (191 ) (191 ) (191 ) (190 ) (127 ) 699 (191 ) Market value adjustments 38 38 38 38 25 (139 ) 38 Derivative adjustments 24 24 24 22 16 (86 ) 24 Comprehensive income 1,065 1,074 1,074 496 716 (3,336 ) 1,089 Comprehensive income attributable to noncontrolling interests — — — — — (1 ) (1 ) Comprehensive income attributable to redeemable noncontrolling interests (23 ) (23 ) (23 ) (23 ) (15 ) 84 (23 ) Comprehensive income attributable to Discovery Communications, Inc. $ 1,042 $ 1,051 $ 1,051 $ 473 $ 701 $ (3,253 ) $ 1,065 CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Year Ended to December 31, 2015 (in millions) Discovery DCH DCL Non-Guarantor Other Non- Reclassifications Discovery and Net income $ 1,034 $ 1,044 $ 1,044 $ 519 $ 696 $ (3,289 ) $ 1,048 Other comprehensive (loss) income, net of tax: Currency translation adjustments (201 ) (201 ) (201 ) (199 ) (134 ) 735 (201 ) Market value adjustments (25 ) (25 ) (25 ) (25 ) (17 ) 92 (25 ) Derivative adjustments (1 ) (1 ) (1 ) (3 ) (1 ) 6 (1 ) Comprehensive income 807 817 817 292 544 (2,456 ) 821 Comprehensive income attributable to noncontrolling interests — — — — — (1 ) (1 ) Comprehensive loss attributable to redeemable noncontrolling interests 23 23 23 23 15 (97 ) 10 Comprehensive income attributable to Discovery Communications, Inc. $ 830 $ 840 $ 840 $ 315 $ 559 $ (2,554 ) $ 830 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 Net income $ 1,139 $ 1,148 $ 1,148 $ 559 $ 765 $ (3,622 ) $ 1,137 Other comprehensive income (loss), net of tax: Currency translation adjustments (399 ) (399 ) (399 ) (397 ) (266 ) 1,461 (399 ) Market value adjustments (2 ) (2 ) (2 ) (2 ) (2 ) 8 (2 ) Derivative adjustments (11 ) (11 ) (11 ) 10 (7 ) 19 (11 ) 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 CASH FLOWS For the Year Ended December 31, 2016 (in millions) Discovery DCH DCL Non-Guarantor Other Non- Reclassifications Discovery and Operating Activities Cash (used in) provided by operating activities $ (27 ) $ (9 ) $ 249 $ 1,160 $ — $ — $ 1,373 Investing Activities Payments for investments, net — — (124 ) (148 ) — — (272 ) Purchases of property and equipment — — (18 ) (70 ) — — (88 ) Proceeds from dispositions, net of cash disposed — — — 19 — — 19 Distributions from equity method investees — — — 87 — — 87 Inter-company distributions — — 30 — — (30 ) — Other investing activities, net — — — (2 ) — — (2 ) Cash (used in) provided by investing activities — — (112 ) (114 ) — (30 ) (256 ) Financing Activities Commercial paper repayments, net — — (45 ) — — — (45 ) Borrowings under revolving credit facility — — 350 263 — — 613 Principal repayments of revolving credit facility — — (225 ) (610 ) — — (835 ) Borrowings from debt, net of discount — — 498 — — — 498 Principal repayments of capital lease obligations — — (5 ) (23 ) — — (28 ) Repurchases of stock and stock settlements of common stock repurchase contracts (1,374 ) — — — — — (1,374 ) Prepayments for outstanding common stock repurchase contracts (57 ) — — — — — (57 ) Distributions to redeemable noncontrolling interests — — — (22 ) — — (22 ) Equity-based plan payments, net 46 — — — — — 46 Hedge of borrowings from debt instruments — — 40 — — — 40 Inter-company distributions — — — (30 ) — 30 — Inter-company contributions and other financing activities, net 1,412 9 (733 ) (701 ) — — (13 ) Cash provided by (used in) financing activities 27 9 (120 ) (1,123 ) — 30 (1,177 ) Effect of exchange rate changes on cash and cash equivalents — — — (30 ) — — (30 ) Net change in cash and cash equivalents — — 17 (107 ) — — (90 ) Cash and cash equivalents, beginning of period — — 3 387 — — 390 Cash and cash equivalents, end of period $ — $ — $ 20 $ 280 $ — $ — $ 300 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Year Ended December 31, 2015 (in millions) Discovery DCH DCL Non-Guarantor Other Non- Reclassifications Discovery and Operating Activities Cash (used in) provided by operating activities $ (134 ) $ (15 ) $ 422 $ 1,004 $ — $ — $ 1,277 Investing Activities Payments for investments, net — — (10 ) (262 ) — — (272 ) Purchases of property and equipment — — (17 ) (86 ) — — (103 ) Business acquisitions, net of cash acquired — — — (80 ) — — (80 ) Payments for derivative instruments — — (11 ) 2 — — (9 ) Proceeds from dispositions, net of cash disposed — — — 61 — — 61 Distributions from equity method investees — — — 87 — — 87 Inter-company distributions — — 37 — — (37 ) — Other investing activities, net — — — 15 — — 15 Cash (used in) provided by investing activities — — (1 ) (263 ) — (37 ) (301 ) Financing Activities Commercial paper borrowings, net — — (136 ) — — — (136 ) Borrowings under revolving credit facility — — — 1,016 — — 1,016 Principal repayments of revolving credit facility — — (13 ) (252 ) — — (265 ) Borrowings from debt, net of discount — — 936 — — — 936 Principal repayments of debt — — (849 ) — — — (849 ) Principal repayments of capital lease obligations — — (5 ) (22 ) — — (27 ) Repurchases of stock (951 ) — — — — — (951 ) Purchase of redeemable noncontrolling interests — — — (548 ) — — (548 ) Distributions to redeemable noncontrolling interests — — — (42 ) — — (42 ) Equity-based plan proceeds, net 6 — — — — — 6 Hedge of borrowings from debt instruments — — (29 ) — — — (29 ) Inter-company distributions — — — (37 ) — 37 — Inter-company contributions and other financing activities, net 1,079 15 (330 ) (777 ) — — (13 ) Cash provided by (used in) financing activities 134 15 (426 ) (662 ) — 37 (902 ) Effect of exchange rate changes on cash and cash equivalents — — — (51 ) — — (51 ) Net change in cash and cash equivalents — — (5 ) 28 — — 23 Cash and cash equivalents, beginning of period — — 8 359 — — 367 Cash and cash equivalents, end of period $ — $ — $ 3 $ 387 $ — $ — $ 390 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 Operating Activities Cash provided by (used in) operating activities $ 111 $ (17 ) $ 269 $ 955 $ — $ — $ 1,318 Investing Activities Payments for investments, net — — (5 ) (175 ) — — (180 ) Purchases of property and equipment — — (16 ) (104 ) — — (120 ) Business acquisitions, net of cash acquired — — (64 ) (308 ) — — (372 ) Proceeds from disposition, net of cash acquired — — — 45 — — 45 Distributions from equity method investees — — — 61 — — 61 Other investing activities, net — — — (2 ) — — (2 ) Cash used in investing activities — — (85 ) (483 ) — — (568 ) Financing Activities Commercial paper borrowings, net — — 229 — — — 229 Borrowings under revolving credit facility — — 553 145 — — 698 Principal repayments of revolving credit facility — — (540 ) (120 ) — — (660 ) Borrowings from debt, net of discount — — 415 — — — 415 Principal repayments of capital lease obligations — — (4 ) (15 ) — — (19 ) Repurchases of stock (1,422 ) — — — — — (1,422 ) Distributions to redeemable noncontrolling interests — — — (2 ) — — (2 ) Equity-based plan proceeds, net 44 — — — — — 44 Inter-company contributions and other financing activities, net 1,267 17 (952 ) (349 ) — — (17 ) 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 |
Summary Of Significant Accoun31
Summary Of Significant Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Accounting and Reporting Pronouncements Adopted | Accounting and Reporting Pronouncements Adopted Presentation of Financial Statements - Going Concern In August 2014 , the Financial Accounting Standards Board ("FASB") issued guidance requiring the Company 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 for a period of one year after the financial statements are issued, and to provide related disclosures, if applicable. If such conditions or events exist, an entity should disclose that there is substantial doubt about the entity's ability to continue as a going concern for a period of one year after the financial statements are issued , along with the principal conditions or events that raise substantial doubt, management's evaluation of the significance of those conditions or events in relation to the entity's ability to meet its obligations, and management's plans that are intended to mitigate those conditions or events. The Company adopted this guidance for the year ended December 31, 2016 , and concluded that there were no conditions or events that raise substantial doubt about the Company's ability to continue as a going concern for one year after the financial statements are issued. Business Consolidation In February 2015 , the FASB issued guidance that amends the analysis that a reporting entity performs to determine whether it should consolidate certain legal entities. The changes in this guidance include how related parties and de facto agents are considered in the primary beneficiary determination and the analysis for determining whether a fee paid to a decision maker or service provider is a variable interest. The Company adopted this guidance effective January 1, 2016 , and there was no effect on the consolidated financial statements. Business Combinations In September 2015 , the FASB issued new guidance on adjustments to provisional amounts recognized in a business combination, which were recognized on a retrospective basis. Under the new requirements, adjustments will be recognized in the reporting period in which the adjustments are determined. The effects of changes in depreciation, amortization, or other income arising from changes to the provisional amounts, if any, are included in earnings of the reporting period in which the adjustments to the provisional amounts are determined. An entity is also required to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. The Company adopted this guidance effective January 1, 2016 , and there was no effect on the consolidated financial statements. Accounting for Fees Paid in a Cloud Computing Arrangement In April 2015 , the FASB issued explicit guidance on the recognition of fees paid by a customer for cloud computing arrangements as either the acquisition of a software license or a service contract. The Company adopted this guidance effective October 1, 2015 , and there was no effect on the consolidated financial statements. Reporting Discontinued Operations In April 2014, the 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 must represent a strategic shift with a major effect on its operations and financial results in order to be classified as a discontinued operation. The Company's policy is to present the results of operations of a component classified as discontinued operations, as well as any gain or loss on the disposal transaction, 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. The Company adopted the new guidance on July 1, 2014. |
Accounting and Reporting Pronouncements Not Yet Adopted | Accounting and Reporting Pronouncements Not Yet Adopted Goodwill In January 2017, the FASB issued guidance that simplifies the subsequent measurement of goodwill. The new guidance eliminates Step 2 from the goodwill impairment test, and eliminates the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment. Therefore, an entity should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, and the same impairment assessment applies to all reporting units. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017 . The amendments in this update should be adopted on a prospective basis for the annual or any interim goodwill impairment tests beginning after December 15, 2019 . Income Taxes In October 2016 , the FASB issued guidance that simplifies the accounting for the income tax consequences of intra-entity transfers of assets other than inventory. The new guidance includes requirements to recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs, and therefore eliminates the exception for an intra-entity transfer of an asset other than inventory. The new standard is effective for reporting periods beginning after December 15, 2017 , and can be adopted early in any interim period, with any adjustments applied on a modified retrospective basis through a cumulative-effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company is currently evaluating the impact that the pronouncement will have on the consolidated financial statements. Statement of Cash Flows In August 2016, the FASB issued guidance to reduce diversity in practice in how specific transactions are classified in the statement of cash flows. The update provides guidance on the following eight types of transactions: debt prepayment or debt extinguishment costs, settlement of zero-coupon debt instruments, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies, distributions received from equity method investments, beneficial interests in securitization transactions, separately identifiable cash flows and application of the predominance principle. The amendments in this update are effective for reporting periods beginning after December 15, 2017 , including interim periods within those fiscal years. Early adoption is permitted, provided that all of the amendments are adopted in the same period. The guidance requires application using a retrospective transition method. The Company is currently evaluating the impact that the pronouncement will have on the consolidated financial statements. Share-Based Payments In March 2016 , the FASB issued guidance that simplifies how share-based payments are accounted for and presented in the financial statements. The Company is assessing the complete impact to the financial statements. Currently, the implementation of the new the accounting guidance effective January 1, 2017, is expected to impact the financial statements as follows: • Actual forfeitures will be used in the calculations of stock-based compensation expense instead of estimated forfeitures. The prior period impact is not expected to be material and will be recorded in retained earnings using the modified retrospective method as of January 1, 2017. • Windfall tax benefits or deficiencies will be recorded in income tax expense in the period in which they occur, whereas current guidance requires windfall benefits to be recorded in accumulated paid-in capital (“APIC”) with shortfalls offset against available windfall benefits. This change will be applied prospectively. The amounts recorded to APIC for net windfalls for the years ended December 31, 2016 , 2015 and 2014 are $7 million , $12 million and $30 million , respectively. • Cash flows from windfall tax benefits will no longer factor into the calculation of the number of shares for diluted earnings per share. This change will be applied prospectively and is not expected to have a material impact on diluted earnings per share. Cash flows from windfall tax benefits reduced diluted earnings per share by zero , zero and $0.01 per share for the years ended December 31, 2016 , 2015 and 2014 , respectively. • Windfall tax benefits will be reclassified from financing activities to operating activities in the statement of cash flows presentation. This change will be applied retrospectively, resulting in the adjustment of prior period amounts. Cash flows from operating activities and cash used in financing activities will increase by $7 million , $12 million and $30 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. The table below summarizes the expected effects of this new guidance on the Company's consolidated financial statements (in millions). Year Ended December 31, 2016 Year Ended December 31, 2015 Year Ended December 31, 2014 As reported As adjusted As reported As adjusted As reported As reported Consolidated Statement of Cash Flows Cash flows from operating activities $ 1,373 $ 1,380 $ 1,277 $ 1,289 $ 1,318 $ 1,348 Cash used in financing activities $ (1,177 ) $ (1,184 ) $ (902 ) $ (914 ) $ (734 ) $ (764 ) Leases In February 2016 , the FASB issued guidance on leases that will require lessees to recognize almost all of their leases on the balance sheet by recording a right-of-use asset and liability. The new standard will be effective for reporting periods beginning after December 15, 2018 , and requires application of the new accounting guidance at the beginning of the earliest comparative period presented in the year of adoption. The Company is currently evaluating the impact that the pronouncement will have on the consolidated financial statements, however it is expected that assets and liabilities will increase materially when operating leases are recorded under the new standard. Recognition and Measurement of Financial Instruments In January 2016 , the FASB issued guidance regarding the classification and measurement of financial instruments. The standard requires equity securities, including available-for-sale ("AFS") securities, to be measured at fair value with changes in the fair value recognized through net income, superseding the guidance permitting entities to record gains and losses on equity securities with readily determinable fair values in accumulated other comprehensive income. Investments accounted for under the equity method of accounting or that result in consolidation are not included within the scope of this update. The new standard will affect the Company's accounting for AFS securities for reporting periods beginning after December 15, 2017 . Balance Sheet Classification of Deferred Taxes In November 2015 , the FASB issued guidance to simplify the presentation of deferred income taxes, which removes the requirement to separate deferred tax liabilities and assets into current and noncurrent amounts and instead requires all such amounts be classified as noncurrent on the Company's consolidated balance sheets. As a result, each tax jurisdiction will now only have one net noncurrent deferred tax asset or liability. The new guidance does not change the existing requirement that prohibits offsetting deferred tax liabilities from one jurisdiction against deferred tax assets of another jurisdiction. The Company will retrospectively adopt the new guidance effective January 1, 2017. The following table summarizes the adjustments the Company expects to make to conform prior period classifications to the new guidance: December 31, 2016 December 31, 2015 As reported As adjusted As reported As adjusted Current deferred income tax assets $ 97 $ — $ 68 $ — Noncurrent deferred income tax assets (included within other noncurrent assets) 9 20 18 25 Noncurrent deferred income tax liabilities (553 ) (467 ) (556 ) (495 ) Total $ (447 ) $ (447 ) $ (470 ) $ (470 ) 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, as amended, contains principles with respect to the measurement and timing of recognition of revenue. 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. The new standard is effective for annual reporting periods beginning after December 15, 2017 . The Company will apply the new revenue standard beginning January 1, 2018 , and will not early adopt. The Company has identified the advertising sales and distribution revenue streams as significant and is currently in the process of analyzing each of these in accordance with the new guidance to determine the impact on the consolidated financial statements. The guidance permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the cumulative catch-up transition method). When the Company has completed its evaluation, it will determine the method of transition that will be used in adopting the new standard. |
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 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 19.) |
Investments | Investments The Company holds investments in equity method investees, cost method investees and available-for-sale 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 typically 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. For the Company's equity method investments in renewable energy limited liability companies where the capital structure of the equity investment results in different liquidation rights and priorities than what is reflected by the underlying percentage ownership interests, the Company's proportionate share of net earnings is accounted for using the Hypothetical Liquidation at Book Value ("HLBV") methodology available under the equity method of accounting. When applying HLBV, the Company determines the amount that would be received if the investment were to liquidate all of its assets and distribute the resulting cash to the investors based on contractually defined liquidation priorities. The change in the Company's claim on the investee's book value in accordance with GAAP at the beginning and the end of the reporting period, after adjusting for any contributions or distributions, is the Company's share of the earnings or losses for the period.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.) Cost method investments include ownership rights that either (i) do not meet the definition of in-substance common stock or (ii) do not provide the Company with control or significant influence and these investments do not have readily determinable fair values. Cost method investments are recorded at the lower of cost or fair value. Investments in entities or other securities in which the Company has no control or significant influence and is not the primary beneficiary and have a readily determinable fair value are accounted for at fair value based on quoted market prices are 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 income (expense), net , on the consolidated statements of operations. For investments classified as AFS, which include investments in common stock, 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 AFS securities are determined to be other-than-temporary, a loss is recorded in earnings in the current period as a component of other income (expense), net on the consolidated statements of operations. (See "Asset Impairment Analysis" below.) For purposes of computing realized gains and losses, the Company determines cost on a specific identification basis. |
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 income (expense), net , and totaled a gain of $75 million , a loss of $ 103 million , and a loss of $ 22 million for 2016 , 2015 and 2014 , respectively. Cash flows from the Company's operations in foreign countries are generally translated at the weighted average rate for the applicable period in the consolidated statements of cash flows. The impacts of material transactions are recorded at the applicable spot rates as of the transaction date 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 90 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, films 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 includes advance payments for rights to air sporting events that will take place in the future and advance payments for acquired films and television series. 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 costs. 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 license period for the programs has commenced and the programs are available for air 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 when the right to air the content is received are recognized as in-production produced, 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: (i) the grouping of content by network, (ii) the application of a quantitative revenue forecast model based on the adequacy of a network's historical data, (iii) determining the appropriate historical periods to utilize and the relative weighting of those historical periods in the revenue forecast model, and (iv) 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 in determining the film 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 event or season based on the estimated relative value of each event or season. The result of the revenue forecast model is either an accelerated method or a straight-line amortization method over the estimated useful lives of primarily three to four 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. Amortization of 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, including prepaid sports rights, 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. 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 if an event or other circumstance indicates that we may not recover the carrying value of the asset. 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. The Company performs a quantitative impairment test every three years, irrespective of the outcome of the Company's qualitative assessment. The quantitative goodwill impairment test is performed using a two-step process. The first step of the process is to compare the fair value of a reporting unit with its carrying amount, including goodwill. 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. 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 identifying the appropriate asset groupings and primary assets within those groupings, 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, AFS Securities and Cost Method Investments | Equity Method Investments, AFS Securities and Cost Method Investments Equity method investments, AFS securities and cost method investments are reviewed for indicators of other-than-temporary impairment on a quarterly basis. Equity method investments, AFS securities and cost method investments are 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. The Company may estimate the fair value of its AFS securities by considering the share price and other publicly available information about the the investment. 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.) If declines in the value of these investments are determined to be other-than-temporary, a loss is recorded in earnings in the current period as a component of other income (expense), net on the consolidated statements of operations. |
Derivative Instruments | Derivative Instruments The Company uses derivative financial instruments to modify its exposure to market risks from changes in foreign currency exchange rates, interest rates, and the fair value of investments classified as available-for-sale securities. At the inception of a derivative contract, the Company designates the derivative as one of four types based on the Company's intentions and expectations as to the likely effectiveness as a hedge. These four types are: (i) a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability ("cash flow hedge"), (ii) a hedge of net investments in foreign operations ("net investment hedge"), (iii) a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment ("fair value hedge"), or (iv) an instrument with no hedging designation. (See Note 10.) Cash Flow Hedges For those derivative instruments designated as cash flow hedges, gains or losses on the effective portion of derivative instruments are initially recorded in accumulated other comprehensive loss on the consolidated balance sheets and reclassified into the consolidated statements of operations in the same line item in which the hedged item is recognized and in the same period as the hedged item affects earnings. If it becomes probable that a forecasted transaction will not occur, any related gains and losses recorded in accumulated other comprehensive loss on the consolidated balance sheets are reclassified to other income (expense), net on the consolidated statements of operations in that period. Net Investment Hedges For those derivative instruments designated as net investment hedges, the changes in the fair value of the derivatives instruments are recorded as cumulative translation adjustments, a component of accumulated other comprehensive loss on the consolidated balance sheets, and are only recognized in earnings upon the liquidation or sale of the hedged investment. If the notional amount of the instrument designated as the hedge of a net investment is greater than the portion of the net investment being hedged, hedge ineffectiveness, which is the gain or loss of the portion over hedged, is reclassified to other income (expense), net on the consolidated statements of operations in that period. Fair Value Hedges For those derivative instruments designated as fair value hedges, the changes in the fair value of the derivative instruments, including offsetting changes in fair value of the hedged items and amounts excluded from the assessment of effectiveness are recorded in other income (expense), net . No Hedging Designation 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 income (expense), net . Financial Statement Presentation The Company records all unsettled derivative contracts at their gross fair values on the consolidated balance sheets. (See Note 5.) The portion of the fair value that represents cash flows occurring within one year are classified as current, and the portion related to cash flows occurring beyond one year are classified as noncurrent. The cash flows from the effective portion of derivative instruments used as hedges are classified in the consolidated statements of cash flows in the same section as the cash flows from the hedged item. For example, the cash paid or received to settle the effective portion of foreign exchange derivatives intended to hedge distribution revenue earned during the year ended December 31, 2016 is reported as an operating activity in the consolidated statements of cash flows consistent with the classification of cash received from customers. Also, the cash flows related to our interest rate contracts used to hedge the pricing for certain senior notes are reported as a financing activity in the consolidated statements of cash flows consistent with the cash proceeds from our debt offerings. The cash flows from the ineffective portion of derivative instruments used as hedges, periodic settlement of interest on cross-currency swaps, and derivative contracts not designated as hedges are reported as investing activities in the consolidated statements of cash flows. |
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 formal or 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. Common Stock Repurchase Contracts Under common stock repurchase contracts, the Company makes up front cash payments for the future settlement of the contract in either shares or in cash based on the Company's Series C common stock price at settlement in relation to the strike price of the contract. If the Company's Series C common stock price is below the strike price at expiry, the Company receives a predetermined number of its Series C common stock. If the Company's Series C common stock price is above the strike price at expiry, the Company can elect to settle the transaction in either cash or the equivalent value in shares of Series C common stock at the then current market price upon settlement, based on the notional value of the repurchase contract. The contracts represent a hybrid instrument consisting of a debt instrument and an embedded equity-linked derivative that does not require bifurcation because it is linked to the Company’s own stock. The Company accounts for these contracts as equity transactions. Prepayments are recorded as a reduction in additional paid-in capital. If the contract settles in shares of Series C common stock, that amount will be reclassified to treasury stock. If the contract settles in cash, the cash receipt will be recorded as an increase to additional paid-in capital. Repurchased common stock is recorded as 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 and distribution revenue is 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 $ 13 million , $ 16 million and $ 11 million for 2016 , 2015 and 2014 , 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. The Company allocates the ad sales arrangement consideration to each item based on its relative fair value. 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 as service is provided. 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, advanced billings to subscribers for access to the Company’s curriculum-based streaming services and advanced fees received related to the sublicensing of Olympic rights. 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 performance-based restricted stock units (“PRSUs”), service-based restricted stock units (“RSUs”) stock options, stock appreciation rights (“SARs”) and unit awards are issued. 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 and C common stock on the date of grant less estimated forfeitures. Compensation expense for PRSUs that vest based on achieving subjective operating performance conditions or in situations where the executive is able to withhold taxes in excess of the minimum statutory requirement, is remeasured at the 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 conversion. 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. Compensation expense for stock options is attributed to expense over the vesting period 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 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. 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 simplified method is utilized to calculate the expected term, since the Company does not have sufficient historical exercise data to provide a reasonable basis upon which to estimate the expected term. The simplified method 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. 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 in selling, general and administrative expenses. Advertising costs paid to third parties totaled $ 166 million , $ 148 million and $ 145 million for 2016 , 2015 and 2014 , 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. The Company also engages in transactions that make the Company eligible for federal investment tax credits. The Company accounts for federal investment tax credits under the flow-through method, under which the tax benefit generated from an investment tax credit is recorded in the period the credit is generated. 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. For the U.S. Networks segment, more than 90% of distribution revenue comes from the 10 largest distributors. For the International Networks segment, approximately 46% of distribution revenue comes from the 10 largest distributors. Agreements in place with the 10 largest cable and satellite operators with the U.S. Networks and International Networks expire at various times from 2017 through 2021 . Although the Company seeks to renew its agreements with its distributors prior to expiration of a contract, a delay in securing a renewal that results in a service disruption, a 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, as viewership is impacted by affiliate subscriber levels. No individual customer accounted for more than 10% of total consolidated revenues for 2016 , 2015 and 2014 . As of December 31, 2016 and 2015 , 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. Additionally, the Company has cash and cash equivalents held by its foreign subsidiaries that would result in U.S. tax consequences should the Company decide it needs to repatriate these funds to the U.S. 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 and that the Company may, at the time of such unavailability to fund, have limited or no access to the commercial paper market. 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. Typically, the Company seeks to manage such risks from its revolving credit facility by contracting with experienced large financial institutions and monitoring the credit quality of its lenders. As of December 31, 2016 , the Company did not anticipate nonperformance by any of its counterparties. |
Derivative Financial Instrume32
Derivative Financial Instruments (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments | Derivative Instruments The Company uses derivative financial instruments to modify its exposure to market risks from changes in foreign currency exchange rates, interest rates, and the fair value of investments classified as available-for-sale securities. At the inception of a derivative contract, the Company designates the derivative as one of four types based on the Company's intentions and expectations as to the likely effectiveness as a hedge. These four types are: (i) a hedge of a forecasted transaction or the variability of cash flows to be received or paid related to a recognized asset or liability ("cash flow hedge"), (ii) a hedge of net investments in foreign operations ("net investment hedge"), (iii) a hedge of the fair value of a recognized asset or liability or of an unrecognized firm commitment ("fair value hedge"), or (iv) an instrument with no hedging designation. (See Note 10.) Cash Flow Hedges For those derivative instruments designated as cash flow hedges, gains or losses on the effective portion of derivative instruments are initially recorded in accumulated other comprehensive loss on the consolidated balance sheets and reclassified into the consolidated statements of operations in the same line item in which the hedged item is recognized and in the same period as the hedged item affects earnings. If it becomes probable that a forecasted transaction will not occur, any related gains and losses recorded in accumulated other comprehensive loss on the consolidated balance sheets are reclassified to other income (expense), net on the consolidated statements of operations in that period. Net Investment Hedges For those derivative instruments designated as net investment hedges, the changes in the fair value of the derivatives instruments are recorded as cumulative translation adjustments, a component of accumulated other comprehensive loss on the consolidated balance sheets, and are only recognized in earnings upon the liquidation or sale of the hedged investment. If the notional amount of the instrument designated as the hedge of a net investment is greater than the portion of the net investment being hedged, hedge ineffectiveness, which is the gain or loss of the portion over hedged, is reclassified to other income (expense), net on the consolidated statements of operations in that period. Fair Value Hedges For those derivative instruments designated as fair value hedges, the changes in the fair value of the derivative instruments, including offsetting changes in fair value of the hedged items and amounts excluded from the assessment of effectiveness are recorded in other income (expense), net . No Hedging Designation 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 income (expense), net . Financial Statement Presentation The Company records all unsettled derivative contracts at their gross fair values on the consolidated balance sheets. (See Note 5.) The portion of the fair value that represents cash flows occurring within one year are classified as current, and the portion related to cash flows occurring beyond one year are classified as noncurrent. The cash flows from the effective portion of derivative instruments used as hedges are classified in the consolidated statements of cash flows in the same section as the cash flows from the hedged item. For example, the cash paid or received to settle the effective portion of foreign exchange derivatives intended to hedge distribution revenue earned during the year ended December 31, 2016 is reported as an operating activity in the consolidated statements of cash flows consistent with the classification of cash received from customers. Also, the cash flows related to our interest rate contracts used to hedge the pricing for certain senior notes are reported as a financing activity in the consolidated statements of cash flows consistent with the cash proceeds from our debt offerings. The cash flows from the ineffective portion of derivative instruments used as hedges, periodic settlement of interest on cross-currency swaps, and derivative contracts not designated as hedges are reported as investing activities in the consolidated statements of cash flows. |
Redeemable Noncontrolling Int33
Redeemable Noncontrolling Interest (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Noncontrolling Interest [Abstract] | |
Redeemable noncontrolling interest [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 including any remeasurement necessary 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. Any adjustment of redemption value to the floor that reflects a redemption in excess of fair value is included as an adjustment to net income available to Discovery stockholders in the calculation of earnings per share. There were no current period adjustments to reflect a redemption in excess of fair value. (See Note 17.) |
Equity (Policies)
Equity (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
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 formal or 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. Common Stock Repurchase Contracts Under common stock repurchase contracts, the Company makes up front cash payments for the future settlement of the contract in either shares or in cash based on the Company's Series C common stock price at settlement in relation to the strike price of the contract. If the Company's Series C common stock price is below the strike price at expiry, the Company receives a predetermined number of its Series C common stock. If the Company's Series C common stock price is above the strike price at expiry, the Company can elect to settle the transaction in either cash or the equivalent value in shares of Series C common stock at the then current market price upon settlement, based on the notional value of the repurchase contract. The contracts represent a hybrid instrument consisting of a debt instrument and an embedded equity-linked derivative that does not require bifurcation because it is linked to the Company’s own stock. The Company accounts for these contracts as equity transactions. Prepayments are recorded as a reduction in additional paid-in capital. If the contract settles in shares of Series C common stock, that amount will be reclassified to treasury stock. If the contract settles in cash, the cash receipt will be recorded as an increase to additional paid-in capital. Repurchased common stock is recorded as treasury stock on the consolidated balance sheet. |
Earnings Per Share (Policies)
Earnings Per Share (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share, Policy [Policy Text Block] | In calculating earnings per share, the Company follows the two-class method, which distinguishes between the classes of 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 respect to income available to Discovery Communications, Inc. |
Reportable Segments (Policies)
Reportable Segments (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Segment Reporting [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 operating income 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, (vi) gains and losses on business and asset dispositions, and (vii) certain inter-segment eliminations related to production studios. 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. Total 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. |
Summary Of Significant Accoun37
Summary Of Significant Accounting Policies Summary Of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements and Changes in Accounting Principles | The following table summarizes the adjustments the Company expects to make to conform prior period classifications to the new guidance: December 31, 2016 December 31, 2015 As reported As adjusted As reported As adjusted Current deferred income tax assets $ 97 $ — $ 68 $ — Noncurrent deferred income tax assets (included within other noncurrent assets) 9 20 18 25 Noncurrent deferred income tax liabilities (553 ) (467 ) (556 ) (495 ) Total $ (447 ) $ (447 ) $ (470 ) $ (470 ) The table below summarizes the expected effects of this new guidance on the Company's consolidated financial statements (in millions). Year Ended December 31, 2016 Year Ended December 31, 2015 Year Ended December 31, 2014 As reported As adjusted As reported As adjusted As reported As reported Consolidated Statement of Cash Flows Cash flows from operating activities $ 1,373 $ 1,380 $ 1,277 $ 1,289 $ 1,318 $ 1,348 Cash used in financing activities $ (1,177 ) $ (1,184 ) $ (902 ) $ (914 ) $ (734 ) $ (764 ) |
Acquisitions And Dispositions (
Acquisitions And Dispositions (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Business Acquisition [Line Items] | |
Schedule of Pro Forma Information | 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 Revenues $ 6,559 Net income $ 1,168 |
Schedule of Results of Operations for Business Combinations Included in Consolidated Results | The following table presents their revenue and earnings as reported within the consolidated financial statements for the year ended December 31, 2014 (in millions). Year Ended December 31, 2014 Revenues: Distribution $ 220 Advertising 84 Other 72 Total revenues 376 Net income $ 9 |
Eurosport [Member] | |
Business Acquisition [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The fair value of the assets acquired, liabilities assumed, noncontrolling interests recognized and the remeasurement gains recorded on the previously held equity interests is presented in the table below (in millions). Eurosport France Eurosport International March 31, 2015 May 30, 2014 Goodwill $ 69 $ 785 Intangible assets 40 467 Other assets acquired 25 169 Cash 35 47 Removal of TF1 put right 2 27 Currency translation adjustment (6 ) 7 Remeasurement gain on previously held equity interest (2 ) (29 ) Liabilities assumed (30 ) (169 ) Deferred tax liabilities (14 ) (164 ) Redeemable noncontrolling interest (Note 11) (60 ) (558 ) Carrying value of previously held equity interest (21 ) (231 ) Net assets acquired $ 38 $ 351 |
Discovery Family [Member] | |
Business Acquisition [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The fair value of the assets acquired, liabilities assumed and noncontrolling interest recognized is presented in the table below (in millions). September 23, 2014 Goodwill $ 310 Intangible assets 301 Other assets acquired 96 Cash 33 Liabilities assumed (125 ) Redeemable noncontrolling interest (Note 11) (238 ) Carrying value of previously held equity interest (313 ) Net assets acquired $ 64 |
SBS Nordic [Member] | |
Business Acquisition [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | |
Discovery Japan [Member] | |
Business Acquisition [Line Items] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed |
Investments (Tables)
Investments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Investments [Abstract] | |
Schedule Of Investments | The Company’s investments consisted of the following (in millions). December 31, Category Balance Sheet Location 2016 2015 Trading securities: Mutual funds Prepaid expenses and other current assets $ 160 $ 149 Equity method investments Equity method investments, including note receivable 557 567 Available-for-sale securities: Common stock Other noncurrent assets 64 81 Common stock - pledged Other noncurrent assets 64 81 Cost method investments Other noncurrent assets 245 43 Total investments $ 1,090 $ 921 |
Available-for-sale Securities | The accumulated amounts associated with the components of the Company's AFS securities, which are included in other non-current assets, are summarized in the table below. December 31, 2016 2015 Cost $ 195 $ 195 Change in value of the hedged AFS recognized in other income (expense), net (19 ) (2 ) Other-than-temporary impairment of AFS securities (62 ) — Unhedged AFS - other comprehensive (loss) income 14 (31 ) Carrying value $ 128 $ 162 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
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, 2016 Category Balance Sheet Location Level 1 Level 2 Level 3 Total Assets: Trading securities - mutual funds Prepaid expenses and other current assets $ 160 $ — $ — $ 160 Available-for-sale securities: Common stock Other noncurrent assets 64 — — 64 Common stock - pledged Other noncurrent assets 64 — — 64 Derivatives: Cash flow hedges: Foreign exchange Prepaid expenses and other current assets — 31 — 31 Net investment hedges: Cross-currency swaps Other noncurrent assets — 35 — 35 Fair value hedges: Equity (Lionsgate Collar) Other noncurrent assets — 25 — 25 No hedging designation: Cross-currency swaps Other noncurrent assets — 1 — 1 Total $ 288 $ 92 $ — $ 380 Liabilities: Deferred compensation plan Accrued liabilities $ 160 $ — $ — $ 160 Derivatives: Cash flow hedges: Foreign exchange Accrued liabilities — 18 — 18 Net investment hedges: Cross-currency swaps Accrued liabilities — 3 — 3 Cross-currency swaps Other noncurrent liabilities — 31 — 31 Total $ 160 $ 52 $ — $ 212 December 31, 2015 Category Balance Sheet Location Level 1 Level 2 Level 3 Total Assets: Trading securities - mutual funds Prepaid expenses and other current assets $ 149 $ — $ — $ 149 Available-for-sale securities: Common stock Other noncurrent assets 81 — — 81 Common stock - pledged Other noncurrent assets 81 — — 81 Derivatives: Cash flow hedges: Foreign exchange Prepaid expenses and other current assets — 21 — 21 Foreign exchange Other noncurrent assets — 2 — 2 Fair value hedges: Equity (Lionsgate Collar) Other noncurrent assets — 15 — 15 Total $ 311 $ 38 $ — $ 349 Liabilities: Deferred compensation plan Accrued liabilities $ 149 $ — $ — $ 149 Derivatives: Foreign exchange Accrued liabilities — 4 — 4 Total $ 149 $ 4 $ — $ 153 |
Content Rights (Tables)
Content Rights (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Content Rights [Abstract] | |
Schedule Of Content Rights | The following table presents the components of content rights (in millions). December 31, 2016 2015 Produced content rights: Completed $ 3,920 $ 3,624 In-production 420 376 Coproduced content rights: Completed 632 691 In-production 57 62 Licensed content rights: Acquired 1,090 1,078 Prepaid 129 96 Content rights, at cost 6,248 5,927 Accumulated amortization (3,849 ) (3,584 ) Total content rights, net 2,399 2,343 Current portion (310 ) (313 ) Noncurrent portion $ 2,089 $ 2,030 |
Schedule Of Content Expense | Content expense is included in costs of revenues on the consolidated statements of operations and consisted of the following (in millions). For the year ended December 31, 2016 2015 2014 Content amortization $ 1,701 $ 1,628 $ 1,462 Other production charges 272 231 155 Content impairments (a) 72 81 95 Total content expense $ 2,045 $ 1,940 $ 1,712 |
Property And Equipment (Tables)
Property And Equipment (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Property, Plant and Equipment [Abstract] | |
Components Of Property And Equipment | Property and equipment consisted of the following (in millions). December 31, 2016 2015 Land, buildings and leasehold improvements $ 327 $ 338 Broadcast equipment 607 603 Capitalized software costs 347 311 Office equipment, furniture, fixtures and other 333 309 Property and equipment, at cost 1,614 1,561 Accumulated depreciation (1,132 ) (1,073 ) Property and equipment, net $ 482 $ 488 |
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill By Reportable Segment | Changes in the carrying value of goodwill were as follows (in millions). U.S. Networks International Networks Education and Other Total December 31, 2014 $ 5,287 $ 2,869 $ 80 $ 8,236 Acquisitions (Note 3) — 123 — 123 Dispositions (Note 3) — (41 ) — (41 ) Foreign currency translation — (151 ) (3 ) (154 ) December 31, 2015 5,287 2,800 77 8,164 Dispositions (Note 3) (22 ) — — (22 ) Foreign currency translation — (92 ) (10 ) (102 ) December 31, 2016 $ 5,265 $ 2,708 $ 67 $ 8,040 |
Schedule Of Intangible Assets Subject To Amortization | Finite-lived intangible assets consisted of the following (in millions, except years). Weighted Average Amortization Period (Years) December 31, 2016 December 31, 2015 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Intangible assets subject to amortization: Trademarks 10 $ 412 $ (165 ) $ 247 $ 433 $ (130 ) $ 303 Customer relationships 17 1,632 (594 ) 1,038 1,664 (481 ) 1,183 Other 14 97 (34 ) 63 105 (25 ) 80 Total $ 2,141 $ (793 ) $ 1,348 $ 2,202 $ (636 ) $ 1,566 |
Schedule Of Intangible Assets Not Subject To Amortization | Indefinite-lived intangible assets not subject to amortization (in millions): December 31, 2016 2015 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). 2017 2018 2019 2020 2021 Thereafter Amortization expense $ 165 $ 155 $ 151 $ 147 $ 125 $ 605 |
Debt (Tables)
Debt (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Debt Disclosure [Abstract] | |
Outstanding Debt | The table below presents the components of outstanding debt (in millions). December 31, 2016 2015 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 314 328 3.30% Senior notes, semi-annual interest, due May 2022 500 500 3.25% Senior notes, semi-annual interest, due April 2023 350 350 3.45% Senior notes, semi-annual interest, due March 2025 300 300 4.90% Senior notes, semi-annual interest, due March 2026 500 — 1.90% Senior notes, euro denominated, annual interest, due March 2027 627 656 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 550 782 Commercial paper 48 93 Capital lease obligations 151 142 Total debt 7,990 7,801 Unamortized discount and debt issuance costs (67 ) (66 ) Debt, net 7,923 7,735 Current portion of debt (82 ) (119 ) Noncurrent portion of debt $ 7,841 $ 7,616 |
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, 2016 (in millions). 2017 2018 2019 2020 2021 Thereafter Long-term debt repayments $ — $ — $ 500 $ 1,300 $ 650 $ 4,791 |
Derivative Financial Instrume45
Derivative Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
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 impact of derivative financial instruments on the Company's consolidated balance sheets (in millions). There were no amounts eligible to be offset under master netting agreements as of December 31, 2016 and December 31, 2015 . Fair Value Category Balance Sheet Location December 31, 2016 December 31, 2015 Cash flow hedges: Foreign exchange Prepaid expenses and other current assets $ 31 $ 21 Foreign exchange Other noncurrent assets — 2 Foreign exchange Accrued liabilities 18 4 Net investment hedges: Cross-currency swaps Other noncurrent assets 35 — Cross-currency swaps Accrued liabilities 3 — Cross-currency swaps Other noncurrent liabilities 31 — Fair value hedges: Equity (Lionsgate collar) Other noncurrent assets 25 15 No hedging designation: Cross-currency swaps Other noncurrent assets 1 — |
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, 2016 2015 2014 (Losses) gains recognized in accumulated other comprehensive loss Foreign exchange - derivative adjustments $ (1 ) $ 34 $ 14 Interest rate - derivative adjustments 40 (11 ) (28 ) (Losses) gains reclassified into income from accumulated other comprehensive loss (effective portion) Foreign exchange - distribution revenue (25 ) 23 — Foreign exchange - advertising revenue (2 ) 2 — Foreign exchange - costs of revenues 27 9 1 Foreign exchange - other income (expense), net 3 4 3 Interest rate - interest expense (3 ) (3 ) — Gains (losses) reclassified into income from accumulated other comprehensive loss (ineffective portion) Foreign exchange - other income (expense), net 1 — — Interest rate - other income (expense), net — (11 ) — Fair value excluded from effectiveness assessment: Foreign exchange - other income (expense), net (5 ) — — |
Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The following table presents the pretax impact of derivatives designated as net investment hedges on other comprehensive (loss) income (in millions). Year Ended December 31, 2016 2015 2014 Gains recognized in accumulated other comprehensive loss: Cross-currency swaps - changes in fair value $ 1 $ — $ — Cross-currency swaps - interest settlements 2 — — Total in other comprehensive loss $ 3 $ — $ — |
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] | The following table presents the pretax impact of derivatives designated as fair value hedges on income, including offsetting changes in fair value of the hedged items and amounts excluded from the assessment of effectiveness (in millions). The Company recognized $1 million of ineffectiveness on fair value hedges for the year ended December 31, 2016 . The Company had no outstanding fair value hedges during the year ended December 31, 2014. Year Ended December 31, 2016 2015 2014 Losses on changes in fair value of hedged AFS $ (17 ) $ (2 ) $ — Gains on changes in the intrinsic value of equity contracts 16 2 — Fair value of equity contracts excluded from effectiveness assessment (6 ) 10 — Total in other income (expense), net $ (7 ) $ 10 $ — |
Schedule of Gains (Losses on Derivatives Not Designated as Hedges [Table Text Block] | The following table presents the pretax (losses) gains on derivatives not designated as hedges and recognized in other expense, net in the consolidated statements of operations (in millions). Year Ended December 31, 2016 2015 2014 Foreign exchange derivatives $ (1 ) $ 6 $ 1 |
Redeemable Noncontrolling Int46
Redeemable Noncontrolling Interest (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
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, 2016 2015 2014 Beginning balance $ 241 $ 747 $ 36 Initial fair value of redeemable noncontrolling interests of acquired businesses — 60 796 Purchase of subsidiary shares at fair value — (551 ) (6 ) Cash distributions to redeemable noncontrolling interests (22 ) (42 ) (2 ) Comprehensive (loss) income adjustments: Net income (loss) attributable to redeemable noncontrolling interests 23 13 (4 ) Other comprehensive earnings (loss) attributable to redeemable noncontrolling interests — (23 ) (40 ) Currency translation on redemption values 1 (36 ) (64 ) Retained earnings adjustments: Adjustments to redemption value — 73 31 Ending balance $ 243 $ 241 $ 747 |
Equity (Tables)
Equity (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Equity [Abstract] | |
Schedule of Stock Repurchases | The table below presents a summary of common stock repurchases (in millions). Year Ended December 31, 2016 2015 2014 Series C Common Stock: Shares repurchased 34.8 23.7 21.3 Purchase price (a) $ 895 $ 698 $ 1,232 |
Preferred Stock Repurchase [Table Text Block] | The table below presents a summary of Series C convertible preferred stock repurchases made under the repurchase agreement (in millions). Year Ended December 31, 2016 2015 Series C Convertible Preferred Stock: Shares repurchased 9.1 3.9 Purchase price $ 479 $ 253 |
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, 2016 Year Ended December 31, 2015 Year Ended December 31, 2014 Pretax Tax Benefit (Expense) Net-of-tax Pretax Tax Benefit (Expense) Net-of-tax Pretax Tax Benefit(Expense) Net-of-tax Currency translation adjustments: Unrealized losses - foreign currency $ (234 ) $ 41 $ (193 ) $ (249 ) $ 19 $ (230 ) $ (401 ) $ 9 $ (392 ) Unrealized gains - net investment hedge 3 (1 ) 2 — — — — — — Reclassifications: Gain on disposition — — — 23 — 23 — — — Other income (expense), net — — — 6 — 6 (7 ) — (7 ) Total currency translation adjustments (231 ) 40 (191 ) (220 ) 19 (201 ) (408 ) 9 (399 ) Market value adjustments: Unrealized (losses) gains - AFS securities (34 ) 6 (28 ) (33 ) 6 (27 ) 2 (1 ) 1 Reclassifications: Gain on disposition — — — — — — (5 ) 2 (3 ) Other-than-temporary-impairment AFS securities 62 (10 ) 52 — — — — — — Hedged portion of AFS securities 17 (3 ) 14 2 — 2 — — — Total market value adjustments 45 (7 ) 38 (31 ) 6 (25 ) (3 ) 1 (2 ) Derivative adjustments: Gains (losses) in other comprehensive loss 39 (14 ) 25 23 (8 ) 15 (14 ) 6 (8 ) Reclassifications: Distribution revenue 25 (7 ) 18 (23 ) 8 (15 ) — — — Advertising revenue 2 — 2 (2 ) — (2 ) — — — Costs of revenues (27 ) 7 (20 ) (9 ) 3 (6 ) (1 ) — (1 ) Interest expense 3 (1 ) 2 3 (1 ) 2 — — — Other income (expense), net (4 ) 1 (3 ) 7 (2 ) 5 (3 ) 1 (2 ) Total derivative adjustments 38 (14 ) 24 (1 ) — (1 ) (18 ) 7 (11 ) Other comprehensive loss $ (148 ) $ 19 $ (129 ) $ (252 ) $ 25 $ (227 ) $ (429 ) $ 17 $ (412 ) |
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, net of taxes (in millions). Currency Translation Adjustments Market Value Adjustments Derivative Adjustments Accumulated Other Comprehensive Income (Loss) December 31, 2013 $ (8 ) $ — $ 12 $ 4 Other comprehensive (loss) income before reclassifications (392 ) 1 (8 ) (399 ) Reclassifications from accumulated other comprehensive loss to net income (7 ) (3 ) (3 ) (13 ) Other comprehensive loss (399 ) (2 ) (11 ) (412 ) Other comprehensive loss attributable to redeemable noncontrolling interests 40 — — 40 December 31, 2014 (367 ) (2 ) 1 (368 ) Other comprehensive (loss) income before reclassifications (230 ) (27 ) 15 (242 ) Reclassifications from accumulated other comprehensive loss to net income 29 2 (16 ) 15 Other comprehensive loss (201 ) (25 ) (1 ) (227 ) Purchase of redeemable noncontrolling interest (61 ) — — (61 ) Other comprehensive loss attributable to redeemable noncontrolling interests 23 — — 23 December 31, 2015 (606 ) (27 ) — (633 ) Other comprehensive (loss) income before reclassifications (191 ) (28 ) 25 (194 ) Reclassifications from accumulated other comprehensive loss to net income — 66 (1 ) 65 Other comprehensive (loss) income (191 ) 38 24 (129 ) December 31, 2016 $ (797 ) $ 11 $ 24 $ (762 ) |
Equity-Based Compensation (Tabl
Equity-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
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, 2016 2015 2014 PRSUs $ 34 $ 16 $ 46 RSUs 17 17 14 Stock options 13 17 23 SARs 4 (14 ) (11 ) ESPP 1 1 1 Unit awards — (2 ) 5 Total equity-based compensation expense $ 69 $ 35 $ 78 Tax benefit recognized $ 25 $ 13 $ 27 |
Stock Options [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
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 2016 , 2015 and 2014 were as follows. Year Ended December 31, 2016 2015 2014 Risk-free interest rate 1.26 % 1.54 % 1.53 % Expected term (years) 5.0 5.0 5.0 Expected volatility 28.74 % 26.78 % 26.20 % Dividend yield — — — |
Stock-Based Compensation - Summary Of Activities | The table below presents stock option activity (in millions, except years and weighted-average exercise price). Stock Options Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (years) Aggregate Intrinsic Value Outstanding as of December 31, 2015 15.3 $ 24.01 Granted 3.0 $ 25.71 Exercised (3.4 ) $ 13.95 $ 42 Forfeited (1.2 ) $ 33.67 Outstanding as of December 31, 2016 13.7 $ 26.05 3.5 $ 59 Vested and expected to vest as of December 31, 2016 13.2 $ 25.94 3.6 $ 59 Exercisable as of December 31, 2016 8.0 $ 23.21 2.2 $ 54 |
Restricted Stock Units (RSUs) [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Stock-Based Compensation - Summary Of Activities | The table below presents RSU activity (in millions, except years and weighted-average grant price). RSUs Weighted-Average Grant Price Weighted-Average Remaining Contractual Term (years) Aggregate Fair Value Outstanding as of December 31, 2015 2.0 $ 34.62 Granted 1.4 $ 25.22 Converted (0.4 ) $ 33.41 $ 10 Forfeited (0.4 ) $ 32.45 Outstanding as of December 31, 2016 2.6 $ 30.03 2.7 $ 73 Vested and expected to vest as of December 31, 2016 2.4 $ 30.17 2.6 $ 64 |
Performance Shares [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Stock-Based Compensation - Summary Of Activities | The table below presents PRSU activity (in millions, except years and weighted-average grant price). PRSUs Weighted-Average Grant Price Weighted-Average Remaining Contractual Term (years) Aggregate Fair Value Outstanding as of December 31, 2015 4.2 $ 35.07 Granted 1.0 $ 25.15 Converted (0.6 ) $ 22.32 $ 15 Forfeited (0.1 ) $ 36.05 Outstanding as of December 31, 2016 4.5 $ 34.44 0.6 $ 121 Vested and expected to vest as of December 31, 2016 4.4 $ 34.56 0.6 $ 119 Convertible as of December 31, 2016 0.9 $ 30.23 — $ 23 |
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- Average Grant Price Weighted- Average Remaining Contractual Term (years) Aggregate Intrinsic Value Outstanding as of December 31, 2015 10.4 $ 37.38 Granted 2.4 $ 25.79 Settled (0.9 ) $ 20.67 $ 5 Forfeited (3.3 ) $ 38.65 Outstanding as of December 31, 2016 8.6 $ 35.29 1.0 $ 3 Vested and expected to vest as of December 31, 2016 8.6 $ 35.30 1.0 $ 3 |
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, 2016 2015 2014 Risk-free interest rate 0.95 % 0.83 % 0.59 % Expected term (years) 0.9 1.0 1.3 Expected volatility 29.46 % 31.59 % 27.72 % Dividend yield — — — |
Restructuring And Other Charg49
Restructuring And Other Charges (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
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, 2016 2015 2014 U.S. Networks $ 15 $ 33 $ 61 International Networks 26 14 24 Education and Other 3 2 3 Corporate 14 1 2 Total restructuring and other charges $ 58 $ 50 $ 90 |
Total Restructuring And Other Charges | Year Ended December 31, 2016 2015 2014 Restructuring charges $ 55 $ 29 $ 35 Other charges 3 21 55 Total restructuring and other charges $ 58 $ 50 $ 90 |
Changes In Exit And Restructuring Liabilities | Changes in restructuring and other liabilities by major category were as follows (in millions). Contract Terminations Employee Relocations/ Terminations Total December 31, 2013 $ 2 $ 5 $ 7 Net accruals 3 32 35 Cash paid (1 ) (22 ) (23 ) December 31, 2014 4 15 19 Net accruals 3 26 29 Cash paid (5 ) (20 ) (25 ) December 31, 2015 2 21 23 Net accruals 3 52 55 Cash paid (2 ) (37 ) (39 ) December 31, 2016 $ 3 $ 36 $ 39 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | INCOME TAXES The domestic and foreign components of income before income taxes were as follows (in millions). Year Ended December 31, 2016 2015 2014 Domestic $ 1,414 $ 1,281 $ 1,251 Foreign 257 278 496 Income before income taxes $ 1,671 $ 1,559 $ 1,747 The components of the provision for income taxes were as follows (in millions). Year Ended December 31, 2016 2015 2014 Current: Federal $ 384 $ 306 $ 529 State and local (56 ) 57 64 Foreign 152 146 198 480 509 791 Deferred: Federal 45 59 (112 ) State and local — (10 ) (16 ) Foreign (72 ) (47 ) (53 ) (27 ) 2 (181 ) Income taxes $ 453 $ 511 $ 610 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 $659 million at December 31, 2016 . 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, 2016 2015 2014 U.S. federal statutory income tax rate 35 % 35 % 35 % State and local income taxes, net of federal tax benefit (2 )% 2 % 2 % Effect of foreign operations (1 )% 1 % 2 % Domestic production activity deductions (4 )% (3 )% (3 )% Change in uncertain tax positions — % (1 )% (1 )% Renewable energy investments tax credits (1 )% — % — % Other, net — % (1 )% — % Effective income tax rate 27 % 33 % 35 % Components of deferred income tax assets and liabilities were as follows (in millions). December 31, 2016 2015 Deferred income tax assets: Accounts receivable $ 2 $ 2 Tax attribute carry-forward 67 46 Unrealized loss on derivatives and foreign currency translation adjustments — (5 ) Accrued liabilities and other 174 223 Total deferred income tax assets 243 266 Valuation allowance (25 ) (19 ) Net deferred income tax assets 218 247 Deferred income tax liabilities: Intangible assets (384 ) (460 ) Content rights (166 ) (143 ) Equity method investments (76 ) (88 ) Notes receivable (7 ) (8 ) Other (32 ) (18 ) Total deferred income tax liabilities (665 ) (717 ) Net deferred income tax liabilities $ (447 ) $ (470 ) The Company’s net deferred income tax assets and liabilities were reported on the consolidated balance sheets as follows (in millions). December 31, 2016 2015 Deferred income tax assets (a) $ 106 $ 86 Deferred income tax liabilities (553 ) (556 ) Net deferred income tax liabilities $ (447 ) $ (470 ) (a) As of December 31, 2016 and December 31, 2015 , deferred income tax assets include $9 million and $18 million in noncurrent deferred income tax assets, respectively, which are reflected as a component of other noncurrent assets on the consolidated balance sheet. The Company’s loss carry-forwards were reported on the consolidated balance sheets as follows (in millions). State Foreign Loss carry-forwards (a) $ 724 $ 169 Deferred tax asset related to loss carry-forwards 10 37 Valuation allowance against loss carry-forwards (7 ) (18 ) Earliest expiration date of loss carry-forwards 2017 2018 (a) The Company had no Federal loss carry-forwards reported on the consolidated balance sheets as of December 31, 2016 . A reconciliation of the beginning and ending amounts of unrecognized tax benefits (without related interest and penalty amounts) is as follows (in millions). Year Ended December 31, 2016 2015 2014 Beginning balance $ 173 $ 176 $ 185 Additions based on tax positions related to the current year 13 30 40 Additions for tax positions of prior years 19 17 82 Additions for tax positions acquired in business combinations — 3 6 Reductions for tax positions of prior years (60 ) (21 ) (129 ) Settlements (16 ) (16 ) — Reductions due to lapse of statutes of limitations (9 ) (13 ) (8 ) Reductions due to foreign currency exchange rates (3 ) (3 ) — Ending balance $ 117 $ 173 $ 176 The balances as of December 31, 2016 , 2015 and 2014 included $117 million , $173 million and $176 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, 2016 , increases in unrecognized tax benefits related to the uncertainty of allocation and taxation of income among multiple jurisdictions was offset by the movements of tax positions as a result of multiple audit resolutions and lapse of statutes of limitations. The Company and its subsidiaries file income tax returns in the U.S. and various state and foreign jurisdictions. The Internal Revenue Service recently completed audit procedures for its 2008 to 2011 tax years, the results of which should be finalized in the coming year. The Company is currently under audit by the Internal Revenue Service for its 2012 to 2014 consolidated federal income tax returns. It is difficult to predict the final outcome or timing of resolution of any particular tax matter. Accordingly, an estimate of any related impact to the reserve for uncertain tax positions cannot currently be determined. With few exceptions, the Company is no longer subject to audit by any jurisdiction for years prior to 2006. Adjustments that arose from the completion of audits for certain tax years have been included in the change in uncertain tax positions in the table above. During the year ended December 31, 2016 , the Company resolved multi-year state tax positions that resulted in a reduction of reserves related to uncertain tax positions. The effect is included within the effective tax rate reconciliation as a component of changes in state and local income taxes, net of federal tax benefit. 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 $16 million within the next twelve months as a result of ongoing audits, lapses of statutes of limitations or regulatory developments. As of December 31, 2016 , 2015 and 2014 , the Company had accrued approximately $11 million , $20 million and $17 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. |
Schedule Of Components Of Income From Continuing Operations Before Income Taxes | The domestic and foreign components of income before income taxes were as follows (in millions). Year Ended December 31, 2016 2015 2014 Domestic $ 1,414 $ 1,281 $ 1,251 Foreign 257 278 496 Income before income taxes $ 1,671 $ 1,559 $ 1,747 |
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, 2016 2015 2014 Current: Federal $ 384 $ 306 $ 529 State and local (56 ) 57 64 Foreign 152 146 198 480 509 791 Deferred: Federal 45 59 (112 ) State and local — (10 ) (16 ) Foreign (72 ) (47 ) (53 ) (27 ) 2 (181 ) Income taxes $ 453 $ 511 $ 610 |
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, 2016 2015 2014 U.S. federal statutory income tax rate 35 % 35 % 35 % State and local income taxes, net of federal tax benefit (2 )% 2 % 2 % Effect of foreign operations (1 )% 1 % 2 % Domestic production activity deductions (4 )% (3 )% (3 )% Change in uncertain tax positions — % (1 )% (1 )% Renewable energy investments tax credits (1 )% — % — % Other, net — % (1 )% — % Effective income tax rate 27 % 33 % 35 % |
Schedule Of Deferred Tax Assets And Liabilities | Components of deferred income tax assets and liabilities were as follows (in millions). December 31, 2016 2015 Deferred income tax assets: Accounts receivable $ 2 $ 2 Tax attribute carry-forward 67 46 Unrealized loss on derivatives and foreign currency translation adjustments — (5 ) Accrued liabilities and other 174 223 Total deferred income tax assets 243 266 Valuation allowance (25 ) (19 ) Net deferred income tax assets 218 247 Deferred income tax liabilities: Intangible assets (384 ) (460 ) Content rights (166 ) (143 ) Equity method investments (76 ) (88 ) Notes receivable (7 ) (8 ) Other (32 ) (18 ) Total deferred income tax liabilities (665 ) (717 ) Net deferred income tax liabilities $ (447 ) $ (470 ) |
Schedule Of Income Tax Assets And Liabilities Financial Position | The Company’s net deferred income tax assets and liabilities were reported on the consolidated balance sheets as follows (in millions). December 31, 2016 2015 Deferred income tax assets (a) $ 106 $ 86 Deferred income tax liabilities (553 ) (556 ) Net deferred income tax liabilities $ (447 ) $ (470 ) (a) As of December 31, 2016 and December 31, 2015 , deferred income tax assets include $9 million and $18 million in noncurrent deferred income tax assets, respectively, which are reflected as a component of other noncurrent assets on the consolidated balance sheet. |
Summary of Operating Loss Carryforwards [Table Text Block] | The Company’s loss carry-forwards were reported on the consolidated balance sheets as follows (in millions). State Foreign Loss carry-forwards (a) $ 724 $ 169 Deferred tax asset related to loss carry-forwards 10 37 Valuation allowance against loss carry-forwards (7 ) (18 ) Earliest expiration date of loss carry-forwards 2017 2018 (a) The Company had no Federal loss carry-forwards reported on the consolidated balance sheets as of December 31, 2016 . |
Schedule Of Unrecognized Tax Benefits | A reconciliation of the beginning and ending amounts of unrecognized tax benefits (without related interest and penalty amounts) is as follows (in millions). Year Ended December 31, 2016 2015 2014 Beginning balance $ 173 $ 176 $ 185 Additions based on tax positions related to the current year 13 30 40 Additions for tax positions of prior years 19 17 82 Additions for tax positions acquired in business combinations — 3 6 Reductions for tax positions of prior years (60 ) (21 ) (129 ) Settlements (16 ) (16 ) — Reductions due to lapse of statutes of limitations (9 ) (13 ) (8 ) Reductions due to foreign currency exchange rates (3 ) (3 ) — Ending balance $ 117 $ 173 $ 176 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Earnings Per Share [Abstract] | |
Schedule of Income Available to Discovery Stockholders [Table Text Block] | The table below sets forth the computation for income available to Discovery Communications, Inc. stockholders (in millions). Year Ended December 31, 2016 2015 2014 Numerator: Net income $ 1,218 $ 1,048 $ 1,137 Less: Allocation of undistributed income to Series A convertible preferred stock (278 ) (224 ) (236 ) Net income attributable to noncontrolling interests (1 ) (1 ) (2 ) Net (income) loss attributable to redeemable noncontrolling interests (23 ) (13 ) 4 Redeemable noncontrolling interest adjustments to redemption value — — (1 ) Net income available to Discovery Communications, Inc. Series A, B and C common and Series C convertible preferred stockholders for basic net income per share $ 916 $ 810 $ 902 Allocation of net income available to Discovery Communications Inc. Series A, B and C common stockholders and Series C convertible preferred stockholders for basic net income per share: Series A, B and C common stockholders 789 686 758 Series C convertible preferred stockholders 127 124 144 Total 916 810 902 Add: Allocation of undistributed income to Series A convertible preferred stockholders 278 224 236 Net income available to Discovery Communications, Inc. Series A, B and C common stockholders for diluted net income per share $ 1,194 $ 1,034 $ 1,138 |
Schedule Of Weighted Average Basic And Diluted Shares Outstanding [Table Text Block] | 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, 2016 2015 2014 Denominator: Weighted average Series A, B and C common shares outstanding — basic 401 432 454 Weighted average impact of assumed preferred stock conversion 206 219 227 Weighted average dilutive effect of equity awards 3 5 6 Weighted average Series A, B and C common shares outstanding — diluted 610 656 687 Weighted average Series C convertible preferred stock outstanding — basic and diluted 32 39 43 The table below sets forth the Company's calculated earnings per share. Year Ended December 31, 2016 2015 2014 Basic net income per share available to Discovery Communications, Inc. Series A, B and C common and Series C convertible preferred stockholders: Series A, B and C common stockholders $ 1.97 $ 1.59 $ 1.67 Series C convertible preferred stockholders $ 3.94 $ 3.18 $ 3.34 Diluted net income per share available to Discovery Communications, Inc. Series A, B and C common and Series C convertible preferred stockholders: Series A, B and C common stockholders $ 1.96 $ 1.58 $ 1.66 Series C convertible preferred stockholders $ 3.92 $ 3.16 $ 3.32 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | 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, 2016 2015 2014 Anti-dilutive stock options and RSUs 8 6 4 PRSUs whose performance targets have not yet been achieved 4 3 3 Anti-dilutive common stock repurchase contracts (See Note 12.) 2 — — |
Supplemental Disclosures (Table
Supplemental Disclosures (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Disclosure Text Block Supplement [Abstract] | |
Valuation And Qualifying Accounts | Changes in valuation and qualifying accounts consisted of the following (in millions). Beginning of Year Additions Write-offs Utilization End of Year 2016 Allowance for doubtful accounts $ 40 $ 13 $ (6 ) $ — $ 47 Deferred tax valuation allowance 19 9 (3 ) — 25 2015 Allowance for doubtful accounts 39 8 (7 ) — 40 Deferred tax valuation allowance 13 6 — — 19 2014 Allowance for doubtful accounts 16 28 (5 ) — 39 Deferred tax valuation allowance 18 1 (5 ) (1 ) 13 |
Schedule Of Accrued Liabilities | Accrued liabilities consisted of the following (in millions). December 31, 2016 2015 Accrued payroll and related benefits $ 486 $ 449 Content rights payable 173 217 Accrued interest 67 61 Accrued income taxes 34 30 Current portion of equity-based compensation liabilities 31 5 Other accrued liabilities 284 226 Total accrued liabilities $ 1,075 $ 988 |
Schedule Of Other Income (Expense), Net | Other income (expense), net , consisted of the following (in millions). Year Ended December 31, 2016 2015 2014 Foreign currency gains (losses), net $ 75 $ (103 ) $ (22 ) (Losses) gains on derivative instruments (12 ) 5 1 Remeasurement gain on previously held equity interest — 2 29 Other expense, net: Other-than-temporary impairment of AFS investments (62 ) — — Other 3 (1 ) (17 ) Other expense, net (59 ) (1 ) (17 ) Total other income (expense), net $ 4 $ (97 ) $ (9 ) |
Schedule of Cash Proceeds Received from Share-based Payment Awards [Table Text Block] | Equity-Based Plan Proceeds, Net Equity-based plan proceeds, net in the statement of cash flows consisted of the following (in millions). Year Ended December 31, 2016 2015 2014 Tax settlements associated with equity-based plans $ (11 ) $ (27 ) $ (27 ) Proceeds from issuance of common stock in connection with equity-based plans 50 21 41 Excess tax benefits from equity-based compensation 7 12 30 Total equity-based plan proceeds, net $ 46 $ 6 $ 44 |
Schedule of Supplemental Cash Flow Information | Supplemental Cash Flow Information Year Ended December 31, 2016 2015 2014 Cash paid for taxes, net $ 527 $ 653 $ 686 Cash paid for interest, net 343 312 315 Noncash investing and financing activities: Contributions of business and assets for strategic ventures Fair value of investment received, net of cash paid 82 — — Net asset value of contributed business 32 — — Contingent consideration obligations from business acquisitions — 13 — Accrued purchases of property and equipment 42 12 13 Contingent consideration receivable from business dispositions — 6 — Assets acquired under capital lease arrangements 37 5 43 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
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, 2016 2015 2014 Revenues and service charges: Liberty Group (a) $ 387 $ 171 $ 157 Equity method investees (b) 129 62 104 Other 32 35 34 Total revenues and service charges $ 548 $ 268 $ 295 Interest income (c) $ 17 $ 23 $ 33 Expenses $ (102 ) $ (67 ) $ (37 ) (a) The increase for the year ended December 31, 2016 reflects the May 2016 acquisition of Time Warner Cable, Inc. by Charter Communications, an equity method investee of the Liberty Group and other changes in Liberty Group's businesses. (b) The increases to revenue from equity method investees for the year ended December 31, 2016 and to the receivable balance as of December 31, 2016 both relate to the joint venture agreement with NMG in October 2015 for the New Russian Business. (See Note 3.) (c) The Company records interest earnings from loans to equity method investees as a component of income 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, 2016 2015 Receivables (b) $ 109 $ 37 Note receivable (See Note 4.) 311 384 |
Commitments And Contingencies (
Commitments And Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule Of Significant Contractual Commitments | As of December 31, 2016 , 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 2017 $ 56 $ 41 $ 939 $ 546 $ 1,582 2018 50 24 524 257 855 2019 37 22 438 199 696 2020 22 19 628 150 819 2021 12 17 244 41 314 Thereafter 21 61 825 121 1,028 Total minimum payments 198 184 3,598 1,314 5,294 Amounts representing interest — (33 ) — — (33 ) Total $ 198 $ 151 $ 3,598 $ 1,314 $ 5,261 |
Reportable Segments (Tables)
Reportable Segments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Segment Reporting [Abstract] | |
Schedule Of Revenues By Segment | Year Ended December 31, 2016 2015 2014 U.S. Networks $ 3,285 $ 3,131 $ 2,950 International Networks 3,040 3,092 3,157 Education and Other 174 173 160 Corporate and inter-segment eliminations (2 ) (2 ) (2 ) Total revenues $ 6,497 $ 6,394 $ 6,265 |
Schedule Of Adjusted OIBDA By Segment | Year Ended December 31, 2016 2015 2014 U.S. Networks $ 1,922 $ 1,774 $ 1,680 International Networks 848 961 1,124 Education and Other (10 ) (2 ) 6 Corporate and inter-segment eliminations (334 ) (335 ) (319 ) Total Adjusted OIBDA $ 2,426 $ 2,398 $ 2,491 |
Schedule Of Reconciliation Of Adjusted OIBDA To Operating Income | Year Ended December 31, 2016 2015 2014 Net income available to Discovery Communications, Inc. $ 1,194 $ 1,034 $ 1,139 Net income attributable to redeemable noncontrolling interests 23 13 (4 ) Net income attributable to noncontrolling interests 1 1 2 Income tax expense 453 511 610 Income before income taxes 1,671 1,559 1,747 Other (income) expense, net (4 ) 97 9 Loss (income) from equity investees, net 38 (1 ) (23 ) Interest expense 353 330 328 Operating income 2,058 1,985 2,061 (Gain) loss on disposition (63 ) 17 (31 ) Restructuring and other charges 58 50 90 Depreciation and amortization 322 330 329 Mark-to-market equity-based compensation 38 — 31 Amortization of deferred launch incentives 13 16 11 Total Adjusted OIBDA $ 2,426 $ 2,398 $ 2,491 |
Schedule Of Total Assets By Segment | December 31, 2016 2015 U.S. Networks $ 3,412 $ 3,295 International Networks 4,946 5,151 Education and Other 399 520 Corporate and inter-segment eliminations 7,001 6,898 Total assets $ 15,758 $ 15,864 |
Schedule Of Content Amortization And Impairment Expense By Segment | Year Ended December 31, 2016 2015 2014 U.S. Networks $ 756 $ 771 $ 732 International Networks 1,008 931 826 Education and Other 9 7 4 Corporate and inter-segment eliminations — — (5 ) Total content amortization and impairment expense $ 1,773 $ 1,709 $ 1,557 |
Schedule Of Revenues By Country | Year Ended December 31, 2016 2015 2014 U.S. $ 3,411 $ 3,261 $ 3,081 Non-U.S. 3,086 3,133 3,184 Total revenues $ 6,497 $ 6,394 $ 6,265 |
Schedule Of Property And Equipment By Country | December 31, 2016 2015 U.S. $ 258 $ 252 U.K. 107 129 Other non-U.S. 117 107 Total property and equipment, net $ 482 $ 488 |
Selected Quarterly Financial 56
Selected Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Selected Quarterly Financial Information [Abstract] | |
Selected Quarterly Financial Data (Unaudited) | SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) 2016 (a) 1 st quarter 2 nd quarter 3 rd quarter 4 th quarter Revenues $ 1,561 $ 1,708 $ 1,556 $ 1,672 Operating income 489 586 458 525 Net income 269 415 225 309 Net income available to Discovery Communications, Inc. 263 408 219 304 Earnings per share available to Discovery Communications, Inc. Series A, B and C common stockholders Basic $ 0.42 $ 0.66 $ 0.37 $ 0.52 Diluted $ 0.42 $ 0.66 $ 0.36 $ 0.52 2015 (b) 1 st quarter 2 nd quarter 3 rd quarter 4 th quarter Revenues $ 1,537 $ 1,654 $ 1,557 $ 1,646 Operating income 482 557 505 441 Net income 250 289 283 226 Net income available to Discovery Communications, Inc. 250 286 279 219 Earnings per share available to Discovery Communications, Inc. Series A, B and C common stockholders Basic $ 0.38 $ 0.44 $ 0.43 $ 0.34 Diluted $ 0.37 $ 0.44 $ 0.43 $ 0.34 (a) On September 30, 2016, the Company recorded an other-than-temporary impairment of $62 million related to its investment in Lionsgate. On December 2, 2016, the Company acquired a 39% minority interest in Group Nine Media, a newly formed media holding company, in exchange for contributions of $100 million and the Company's digital businesses Seeker and SourceFed, resulting in a gain of $50 million upon deconsolidation of the businesses. (See Note 3.) (b) 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. On March 31, 2015, the Company completed its acquisition of an additional 31% interest in Eurosport France upon resolution of certain regulatory matters. On June 30, 2015, the Company disposed of its radio operations in SBS Nordic. (See Note 3.) |
Condensed Consolidating Finan57
Condensed Consolidating Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Consolidating Balance Sheet | CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2016 (in millions) Discovery DCH DCL Non-Guarantor Other Non- Reclassifications Discovery and ASSETS Current assets: Cash and cash equivalents $ — $ — $ 20 $ 280 $ — $ — $ 300 Receivables, net — — 421 1,074 — — 1,495 Content rights, net — — 8 302 — — 310 Deferred income taxes — — 42 55 — — 97 Prepaid expenses and other current assets 62 36 180 119 — — 397 Inter-company trade receivables, net — — 195 — — (195 ) — Total current assets 62 36 866 1,830 — (195 ) 2,599 Investment in and advances to subsidiaries 5,106 5,070 7,450 — 3,417 (21,043 ) — Noncurrent content rights, net — — 663 1,426 — — 2,089 Goodwill, net — — 3,769 4,271 — — 8,040 Intangible assets, net — — 272 1,240 — — 1,512 Equity method investments, including note receivable — — 30 527 — — 557 Other noncurrent assets, including property and equipment, net — 20 306 655 — (20 ) 961 Total assets $ 5,168 $ 5,126 $ 13,356 $ 9,949 $ 3,417 $ (21,258 ) $ 15,758 LIABILITIES AND EQUITY Current liabilities: Current portion of debt $ — $ — $ 52 $ 30 $ — $ — $ 82 Other current liabilities — — 516 963 — — 1,479 Inter-company trade payables, net — — — 195 — (195 ) — Total current liabilities — — 568 1,188 — (195 ) 1,561 Noncurrent portion of debt — — 7,315 526 — — 7,841 Other noncurrent liabilities 1 — 403 542 20 (20 ) 946 Total liabilities 1 — 8,286 2,256 20 (215 ) 10,348 Redeemable noncontrolling interests — — — 243 — — 243 Total equity 5,167 5,126 5,070 7,450 3,397 (21,043 ) 5,167 Total liabilities and equity $ 5,168 $ 5,126 $ 13,356 $ 9,949 $ 3,417 $ (21,258 ) $ 15,758 CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2015 (in millions) Discovery DCH DCL Non-Guarantor Other Non- Reclassifications Discovery and ASSETS Current assets: Cash and cash equivalents $ — $ — $ 3 $ 387 $ — $ — $ 390 Receivables, net — — 435 1,044 — — 1,479 Content rights, net — — 9 304 — — 313 Deferred income taxes — — 36 32 — — 68 Prepaid expenses and other current assets 47 26 163 110 — — 346 Inter-company trade receivables, net — — 74 — — (74 ) — Total current assets 47 26 720 1,877 — (74 ) 2,596 Investment in and advances to subsidiaries 5,406 5,381 7,539 — 3,618 (21,944 ) — Noncurrent content rights, net — — 601 1,429 — — 2,030 Goodwill, net — — 3,769 4,395 — — 8,164 Intangible assets, net — — 290 1,440 — — 1,730 Equity method investments, including note receivable — — 25 542 — — 567 Other noncurrent assets, including property and equipment, net — 20 103 674 — (20 ) 777 Total assets $ 5,453 $ 5,427 $ 13,047 $ 10,357 $ 3,618 $ (22,038 ) $ 15,864 LIABILITIES AND EQUITY Current liabilities: Current portion of debt $ — $ — $ 98 $ 21 $ — $ — $ 119 Other current liabilities — — 470 990 — — 1,460 Inter-company trade payables, net — — — 74 — (74 ) — Total current liabilities — — 568 1,085 — (74 ) 1,579 Noncurrent portion of debt — — 6,724 892 — — 7,616 Other noncurrent liabilities 2 — 374 600 21 (20 ) 977 Total liabilities 2 — 7,666 2,577 21 (94 ) 10,172 Redeemable noncontrolling interests — — — 241 — — 241 Total equity 5,451 5,427 5,381 7,539 3,597 (21,944 ) 5,451 Total liabilities and equity $ 5,453 $ 5,427 $ 13,047 $ 10,357 $ 3,618 $ (22,038 ) $ 15,864 |
Condensed Consolidating Statement Of Operations | CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the Year Ended December 31, 2016 (in millions) Discovery DCH DCL Non-Guarantor Other Non- Reclassifications Discovery and Revenues $ — $ — $ 1,963 $ 4,547 $ — $ (13 ) $ 6,497 Costs of revenues, excluding depreciation and amortization — — 466 1,970 — (4 ) 2,432 Selling, general and administrative 14 — 292 1,393 — (9 ) 1,690 Depreciation and amortization — — 41 281 — — 322 Restructuring and other charges — — 28 30 — — 58 Gain on disposition — — (50 ) (13 ) — — (63 ) Total costs and expenses 14 — 777 3,661 — (13 ) 4,439 Operating (loss) income (14 ) — 1,186 886 — — 2,058 Equity in earnings of subsidiaries 1,203 1,203 602 — 802 (3,810 ) — Interest expense — — (332 ) (21 ) — — (353 ) Loss from equity investees, net — — (3 ) (35 ) — — (38 ) Other income (expense), net — — 40 (36 ) — — 4 Income before income taxes 1,189 1,203 1,493 794 802 (3,810 ) 1,671 Income tax benefit (expense) 5 — (290 ) (168 ) — — (453 ) Net income 1,194 1,203 1,203 626 802 (3,810 ) 1,218 Net income attributable to noncontrolling interests — — — — — (1 ) (1 ) Net income attributable to redeemable noncontrolling interests — — — — — (23 ) (23 ) Net income available to Discovery Communications, Inc. $ 1,194 $ 1,203 $ 1,203 $ 626 $ 802 $ (3,834 ) $ 1,194 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the Year Ended December 31, 2015 (in millions) Discovery DCH DCL Non-Guarantor Other Non- Reclassifications Discovery and Revenues $ — $ — $ 1,909 $ 4,498 $ — $ (13 ) $ 6,394 Costs of revenues, excluding depreciation and amortization — — 500 1,847 — (4 ) 2,343 Selling, general and administrative 15 — 265 1,398 — (9 ) 1,669 Depreciation and amortization — — 35 295 — — 330 Restructuring and other charges — — 28 22 — — 50 Loss on disposition — — — 17 — — 17 Total costs and expenses 15 — 828 3,579 — (13 ) 4,409 Operating (loss) income (15 ) — 1,081 919 — — 1,985 Equity in earnings of subsidiaries 1,044 1,044 505 — 696 (3,289 ) — Interest expense — — (318 ) (12 ) — — (330 ) Income (loss) from equity method investees, net — — 4 (3 ) — — 1 Other income (expense), net — — 9 (106 ) — — (97 ) Income before income taxes 1,029 1,044 1,281 798 696 (3,289 ) 1,559 Income tax benefit (expense) 5 — (237 ) (279 ) — — (511 ) Net income 1,034 1,044 1,044 519 696 (3,289 ) 1,048 Net income attributable to noncontrolling interests — — — — — (1 ) (1 ) Net income attributable to redeemable noncontrolling interests — — — — — (13 ) (13 ) Net income available to Discovery Communications, Inc. $ 1,034 $ 1,044 $ 1,044 $ 519 $ 696 $ (3,303 ) $ 1,034 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS For the Year Ended December 31, 2014 (in millions) Discovery DCH DCL Non-Guarantor Other Non- Reclassifications Discovery and 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 method investees, net — — 10 13 — — 23 Other income (expense), net — — 36 (45 ) — — (9 ) Income before income taxes 1,133 1,148 1,431 892 765 (3,622 ) 1,747 Income tax benefit (expense) 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 loss 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 Comprehensive Income | CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Year Ended to December 31, 2016 (in millions) Discovery DCH DCL Non-Guarantor Other Non- Reclassifications Discovery and Net income $ 1,194 $ 1,203 $ 1,203 $ 626 $ 802 $ (3,810 ) $ 1,218 Other comprehensive (loss) income, net of tax: Currency translation adjustments (191 ) (191 ) (191 ) (190 ) (127 ) 699 (191 ) Market value adjustments 38 38 38 38 25 (139 ) 38 Derivative adjustments 24 24 24 22 16 (86 ) 24 Comprehensive income 1,065 1,074 1,074 496 716 (3,336 ) 1,089 Comprehensive income attributable to noncontrolling interests — — — — — (1 ) (1 ) Comprehensive income attributable to redeemable noncontrolling interests (23 ) (23 ) (23 ) (23 ) (15 ) 84 (23 ) Comprehensive income attributable to Discovery Communications, Inc. $ 1,042 $ 1,051 $ 1,051 $ 473 $ 701 $ (3,253 ) $ 1,065 CONDENSED CONSOLIDATING STATEMENT OF COMPREHENSIVE INCOME For the Year Ended to December 31, 2015 (in millions) Discovery DCH DCL Non-Guarantor Other Non- Reclassifications Discovery and Net income $ 1,034 $ 1,044 $ 1,044 $ 519 $ 696 $ (3,289 ) $ 1,048 Other comprehensive (loss) income, net of tax: Currency translation adjustments (201 ) (201 ) (201 ) (199 ) (134 ) 735 (201 ) Market value adjustments (25 ) (25 ) (25 ) (25 ) (17 ) 92 (25 ) Derivative adjustments (1 ) (1 ) (1 ) (3 ) (1 ) 6 (1 ) Comprehensive income 807 817 817 292 544 (2,456 ) 821 Comprehensive income attributable to noncontrolling interests — — — — — (1 ) (1 ) Comprehensive loss attributable to redeemable noncontrolling interests 23 23 23 23 15 (97 ) 10 Comprehensive income attributable to Discovery Communications, Inc. $ 830 $ 840 $ 840 $ 315 $ 559 $ (2,554 ) $ 830 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 Net income $ 1,139 $ 1,148 $ 1,148 $ 559 $ 765 $ (3,622 ) $ 1,137 Other comprehensive income (loss), net of tax: Currency translation adjustments (399 ) (399 ) (399 ) (397 ) (266 ) 1,461 (399 ) Market value adjustments (2 ) (2 ) (2 ) (2 ) (2 ) 8 (2 ) Derivative adjustments (11 ) (11 ) (11 ) 10 (7 ) 19 (11 ) 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 Cash Flows | CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Year Ended December 31, 2016 (in millions) Discovery DCH DCL Non-Guarantor Other Non- Reclassifications Discovery and Operating Activities Cash (used in) provided by operating activities $ (27 ) $ (9 ) $ 249 $ 1,160 $ — $ — $ 1,373 Investing Activities Payments for investments, net — — (124 ) (148 ) — — (272 ) Purchases of property and equipment — — (18 ) (70 ) — — (88 ) Proceeds from dispositions, net of cash disposed — — — 19 — — 19 Distributions from equity method investees — — — 87 — — 87 Inter-company distributions — — 30 — — (30 ) — Other investing activities, net — — — (2 ) — — (2 ) Cash (used in) provided by investing activities — — (112 ) (114 ) — (30 ) (256 ) Financing Activities Commercial paper repayments, net — — (45 ) — — — (45 ) Borrowings under revolving credit facility — — 350 263 — — 613 Principal repayments of revolving credit facility — — (225 ) (610 ) — — (835 ) Borrowings from debt, net of discount — — 498 — — — 498 Principal repayments of capital lease obligations — — (5 ) (23 ) — — (28 ) Repurchases of stock and stock settlements of common stock repurchase contracts (1,374 ) — — — — — (1,374 ) Prepayments for outstanding common stock repurchase contracts (57 ) — — — — — (57 ) Distributions to redeemable noncontrolling interests — — — (22 ) — — (22 ) Equity-based plan payments, net 46 — — — — — 46 Hedge of borrowings from debt instruments — — 40 — — — 40 Inter-company distributions — — — (30 ) — 30 — Inter-company contributions and other financing activities, net 1,412 9 (733 ) (701 ) — — (13 ) Cash provided by (used in) financing activities 27 9 (120 ) (1,123 ) — 30 (1,177 ) Effect of exchange rate changes on cash and cash equivalents — — — (30 ) — — (30 ) Net change in cash and cash equivalents — — 17 (107 ) — — (90 ) Cash and cash equivalents, beginning of period — — 3 387 — — 390 Cash and cash equivalents, end of period $ — $ — $ 20 $ 280 $ — $ — $ 300 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Year Ended December 31, 2015 (in millions) Discovery DCH DCL Non-Guarantor Other Non- Reclassifications Discovery and Operating Activities Cash (used in) provided by operating activities $ (134 ) $ (15 ) $ 422 $ 1,004 $ — $ — $ 1,277 Investing Activities Payments for investments, net — — (10 ) (262 ) — — (272 ) Purchases of property and equipment — — (17 ) (86 ) — — (103 ) Business acquisitions, net of cash acquired — — — (80 ) — — (80 ) Payments for derivative instruments — — (11 ) 2 — — (9 ) Proceeds from dispositions, net of cash disposed — — — 61 — — 61 Distributions from equity method investees — — — 87 — — 87 Inter-company distributions — — 37 — — (37 ) — Other investing activities, net — — — 15 — — 15 Cash (used in) provided by investing activities — — (1 ) (263 ) — (37 ) (301 ) Financing Activities Commercial paper borrowings, net — — (136 ) — — — (136 ) Borrowings under revolving credit facility — — — 1,016 — — 1,016 Principal repayments of revolving credit facility — — (13 ) (252 ) — — (265 ) Borrowings from debt, net of discount — — 936 — — — 936 Principal repayments of debt — — (849 ) — — — (849 ) Principal repayments of capital lease obligations — — (5 ) (22 ) — — (27 ) Repurchases of stock (951 ) — — — — — (951 ) Purchase of redeemable noncontrolling interests — — — (548 ) — — (548 ) Distributions to redeemable noncontrolling interests — — — (42 ) — — (42 ) Equity-based plan proceeds, net 6 — — — — — 6 Hedge of borrowings from debt instruments — — (29 ) — — — (29 ) Inter-company distributions — — — (37 ) — 37 — Inter-company contributions and other financing activities, net 1,079 15 (330 ) (777 ) — — (13 ) Cash provided by (used in) financing activities 134 15 (426 ) (662 ) — 37 (902 ) Effect of exchange rate changes on cash and cash equivalents — — — (51 ) — — (51 ) Net change in cash and cash equivalents — — (5 ) 28 — — 23 Cash and cash equivalents, beginning of period — — 8 359 — — 367 Cash and cash equivalents, end of period $ — $ — $ 3 $ 387 $ — $ — $ 390 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 Operating Activities Cash provided by (used in) operating activities $ 111 $ (17 ) $ 269 $ 955 $ — $ — $ 1,318 Investing Activities Payments for investments, net — — (5 ) (175 ) — — (180 ) Purchases of property and equipment — — (16 ) (104 ) — — (120 ) Business acquisitions, net of cash acquired — — (64 ) (308 ) — — (372 ) Proceeds from disposition, net of cash acquired — — — 45 — — 45 Distributions from equity method investees — — — 61 — — 61 Other investing activities, net — — — (2 ) — — (2 ) Cash used in investing activities — — (85 ) (483 ) — — (568 ) Financing Activities Commercial paper borrowings, net — — 229 — — — 229 Borrowings under revolving credit facility — — 553 145 — — 698 Principal repayments of revolving credit facility — — (540 ) (120 ) — — (660 ) Borrowings from debt, net of discount — — 415 — — — 415 Principal repayments of capital lease obligations — — (4 ) (15 ) — — (19 ) Repurchases of stock (1,422 ) — — — — — (1,422 ) Distributions to redeemable noncontrolling interests — — — (2 ) — — (2 ) Equity-based plan proceeds, net 44 — — — — — 44 Inter-company contributions and other financing activities, net 1,267 17 (952 ) (349 ) — — (17 ) 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 |
Description Of Business And B58
Description Of Business And Basis Of Presentation (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred income taxes | $ 97 | $ 68 |
Other noncurrent assets | 479 | 289 |
Deferred income taxes | $ (553) | $ (556) |
Summary Of Significant Accoun59
Summary Of Significant Accounting Policies - Share-Based Payments (Details) - USD ($) $ / shares in Units, $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
New Accounting Pronouncement, Early Adoption [Line Items] | |||
Adjustments to APIC related to adoption of accounting pronouncements | $ 7 | $ 12 | $ 30 |
Reductions to diluted earnings per share (in dollars per share) | $ 0 | $ 0 | $ 0.01 |
Cash flows from operating activities | $ 1,373 | $ 1,277 | $ 1,318 |
Cash used in financing activities | (1,177) | (902) | (734) |
Adjustments for New Accounting Principle, Early Adoption [Member] | |||
New Accounting Pronouncement, Early Adoption [Line Items] | |||
Cash flows from operating activities | 1,380 | 1,289 | 1,348 |
Cash used in financing activities | $ (1,184) | $ (914) | $ (764) |
Summary Of Significant Accoun60
Summary Of Significant Accounting Policies - Balance Sheet Classification of Deferred Taxes (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
New Accounting Pronouncement, Early Adoption [Line Items] | ||
Current deferred income tax assets | $ 97 | $ 68 |
Noncurrent deferred income tax assets (included within other noncurrent assets) | 9 | 18 |
Noncurrent deferred income tax liabilities | (553) | (556) |
Deferred Tax Liabilities, Net | (447) | (470) |
Adjustments for New Accounting Principle, Early Adoption [Member] | ||
New Accounting Pronouncement, Early Adoption [Line Items] | ||
Current deferred income tax assets | 0 | 0 |
Noncurrent deferred income tax assets (included within other noncurrent assets) | 20 | 25 |
Noncurrent deferred income tax liabilities | (467) | (495) |
Deferred Tax Liabilities, Net | $ (447) | $ (470) |
Summary Of Significant Accoun61
Summary Of Significant Accounting Policies - Additional Information (Details) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016USD ($)Customers | Dec. 31, 2015USD ($)Customers | Dec. 31, 2014USD ($)Customers | |
Summary Of Significant Accounting Policies [Line Items] | |||
Foreign currency transaction gain (loss), before tax | $ 75 | $ (103) | $ (22) |
Launch amortization expense | $ 13 | 16 | 11 |
Dividend yield | 0.00% | ||
Advertising expense | $ 166 | $ 148 | $ 145 |
Number of cable and satellite operators, US | Customers | 10 | ||
Number of cable and satellite operators, Non-US | Customers | 10 | ||
Concentration risk, number of customers | 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 | 46.00% | ||
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] | |||
Useful life | 15 years | ||
Minimum [Member] | Broadcast Equipment [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Useful life | 3 years | ||
Minimum [Member] | Capitalized Software [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Useful life | 2 years | ||
Minimum [Member] | Office Equipment [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Useful life | 3 years | ||
Minimum [Member] | Assets Held under Capital Leases [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Useful life | 1 year | ||
Minimum [Member] | Media Content [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Content capitalization duration threshold | 1 year | ||
Content rights, useful life | 3 years | ||
Maximum [Member] | Buildings [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Useful life | 39 years | ||
Maximum [Member] | Broadcast Equipment [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Useful life | 5 years | ||
Maximum [Member] | Capitalized Software [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Useful life | 5 years | ||
Maximum [Member] | Office Equipment [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Useful life | 5 years | ||
Maximum [Member] | Assets Held under Capital Leases [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Useful life | 15 years | ||
Maximum [Member] | Media Content [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Content rights, useful life | 4 years | ||
Credit Risk [Member] | |||
Summary Of Significant Accounting Policies [Line Items] | |||
Derivative assets | $ 92 |
Acquisitions And Dispositions62
Acquisitions And Dispositions (Narrative) (Details) € in Millions | Dec. 02, 2016USD ($) | Oct. 07, 2015USD ($) | Oct. 01, 2015USD ($) | Oct. 01, 2015EUR (€) | Jun. 30, 2015USD ($) | Mar. 31, 2015USD ($) | Mar. 31, 2015EUR (€) | Sep. 23, 2014USD ($) | May 30, 2014USD ($) | May 30, 2014EUR (€) | Jun. 30, 2015USD ($) | Jun. 30, 2015EUR (€) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Mar. 31, 2017USD ($) | Apr. 01, 2016EUR (€) | Jun. 30, 2015EUR (€) | Jun. 30, 2014 | Dec. 21, 2012 |
Business Acquisition [Line Items] | ||||||||||||||||||||
Goodwill, Written off Related to Sale of Business Unit | $ 22,000,000 | $ 41,000,000 | ||||||||||||||||||
Remeasurement gain on previously held equity interests | 0 | 2,000,000 | $ 29,000,000 | |||||||||||||||||
Purchase of redeemable noncontrolling interests | 0 | 548,000,000 | 1,000,000 | |||||||||||||||||
Goodwill | 8,040,000,000 | 8,164,000,000 | 8,236,000,000 | |||||||||||||||||
Gain (loss) on disposition | $ (31,000,000) | (63,000,000) | 17,000,000 | (31,000,000) | ||||||||||||||||
Business Combination, Consideration Transferred, Other | 32,000,000 | 0 | 0 | |||||||||||||||||
Investments in equity method investees, net | 18,000,000 | |||||||||||||||||||
Proceeds from dispositions, net of cash disposed | 45,000,000 | 19,000,000 | 61,000,000 | 45,000,000 | ||||||||||||||||
Income before income taxes | (1,671,000,000) | (1,559,000,000) | (1,747,000,000) | |||||||||||||||||
SBS Radio [Member] | ||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||
Goodwill, Written off Related to Sale of Business Unit | $ 26,000,000 | |||||||||||||||||||
Gain (loss) on disposition | 1,000,000 | 13,000,000 | 12,000,000 | |||||||||||||||||
Disposal Group, Including Discontinued Operation, Consideration | $ 80,000,000 | $ 80,000,000 | € 72 | |||||||||||||||||
Proceeds from dispositions, net of cash disposed | $ 61,000,000 | € 54 | ||||||||||||||||||
Business disposal, contingent consideration, asset | € | € 18 | |||||||||||||||||||
Income before income taxes | 0 | 5,000,000 | ||||||||||||||||||
GroupNineMediaJV [Member] | ||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||
Goodwill, Written off Related to Sale of Business Unit | $ 22,000,000 | |||||||||||||||||||
Business Combination, Consideration Transferred | $ 100,000,000 | |||||||||||||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 39.00% | |||||||||||||||||||
Gain (loss) on disposition | $ 50,000,000 | |||||||||||||||||||
Business Combination, Consideration Transferred, Other | $ 32,000,000 | |||||||||||||||||||
RussiaJV [Member] | ||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||
Equity Method Investment, Ownership Percentage | 0.00% | |||||||||||||||||||
Goodwill, Written off Related to Sale of Business Unit | $ 15,000,000 | |||||||||||||||||||
Gain (loss) on disposition | 5,000,000 | |||||||||||||||||||
Investments in equity method investees, net | $ 0 | |||||||||||||||||||
Eurosport France [Member] | ||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||
Equity Method Investment, Ownership Percentage | 20.00% | |||||||||||||||||||
Increase or Decrease in ownership, percentage | 49.00% | 49.00% | 31.00% | 31.00% | ||||||||||||||||
Business Combination, Consideration Transferred | $ 38,000,000 | € 36 | ||||||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 51.00% | |||||||||||||||||||
Remeasurement gain on previously held equity interests | $ 2,000,000 | |||||||||||||||||||
Content rights, useful life | 10 years | 10 years | ||||||||||||||||||
Goodwill | $ 69,000,000 | |||||||||||||||||||
Intangible Assets | $ 40,000,000 | |||||||||||||||||||
Eurosport [Member] | ||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||
Increase or Decrease in ownership, percentage | 49.00% | 49.00% | ||||||||||||||||||
Purchase of redeemable noncontrolling interests | $ 548,000,000 | € 491 | ||||||||||||||||||
Eurosport International [Member] | ||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||
Increase or Decrease in ownership, percentage | 31.00% | 31.00% | ||||||||||||||||||
Business Combination, Consideration Transferred | 351,000,000 | € 259 | ||||||||||||||||||
Remeasurement gain on previously held equity interests | $ 29,000,000 | |||||||||||||||||||
Content rights, useful life | 10 years | 10 years | ||||||||||||||||||
Goodwill | $ 785,000,000 | |||||||||||||||||||
Intangible Assets | $ 467,000,000 | |||||||||||||||||||
Discovery Family [Member] | ||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||
Equity Method Investment, Ownership Percentage | 50.00% | |||||||||||||||||||
Increase or Decrease in ownership, percentage | 10.00% | |||||||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 60.00% | |||||||||||||||||||
Remeasurement gain on previously held equity interests | $ 0 | |||||||||||||||||||
Content rights, useful life | 25 years | |||||||||||||||||||
Finite Lived Intangible Asset Useful Life, Renewal Assumption | 3 | |||||||||||||||||||
Goodwill | $ 310,000,000 | |||||||||||||||||||
Intangible Assets | $ 301,000,000 | |||||||||||||||||||
Series of Individually Immaterial Business Acquisitions [Member] | ||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||
Business Combination, Consideration Transferred | $ 2,000,000 | 91,000,000 | 40,000,000 | |||||||||||||||||
Business Combination, Contingent Consideration, Liability | 13,000,000 | 2,000,000 | ||||||||||||||||||
Goodwill | 54,000,000 | 37,000,000 | ||||||||||||||||||
Intangible Assets | $ 43,000,000 | 10,000,000 | ||||||||||||||||||
Scenario, Forecast [Member] | SBS Radio [Member] | ||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||
Business disposal, contingent consideration, asset | $ 19,000,000 | |||||||||||||||||||
Pro Forma [Member] | ||||||||||||||||||||
Business Acquisition [Line Items] | ||||||||||||||||||||
Business Combination, Acquisition Related Costs | $ 4,000,000 |
Acquisitions And Dispositions63
Acquisitions And Dispositions (Schedule of Purchase Price Allocation) (Details) - USD ($) $ in Millions | Mar. 31, 2015 | Sep. 23, 2014 | May 30, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Business Acquisition [Line Items] | ||||||
Goodwill | $ 8,040 | $ 8,164 | $ 8,236 | |||
Remeasurement gain on previously held equity interests | 0 | (2) | $ (29) | |||
Redeemable noncontrolling interests | $ (243) | $ (241) | ||||
Discovery Family [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Goodwill | $ 310 | |||||
Intangible Assets | 301 | |||||
Other assets acquired | 96 | |||||
Cash | 33 | |||||
Remeasurement gain on previously held equity interests | 0 | |||||
Liabilities assumed | (125) | |||||
Redeemable noncontrolling interests | (238) | |||||
Carrying value of previously held equity interest | (313) | |||||
Net assets acquired | $ 64 | |||||
Eurosport International [Member] | ||||||
Business Acquisition [Line Items] | ||||||
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 interests | (29) | |||||
Liabilities assumed | (169) | |||||
Deferred tax liabilities | (164) | |||||
Redeemable noncontrolling interests | (558) | |||||
Carrying value of previously held equity interest | (231) | |||||
Net assets acquired | $ 351 | |||||
Eurosport France [Member] | ||||||
Business Acquisition [Line Items] | ||||||
Goodwill | $ 69 | |||||
Intangible Assets | 40 | |||||
Other assets acquired | 25 | |||||
Cash | 35 | |||||
Removal of TF1 Put Right | 2 | |||||
Currency translation adjustment | (6) | |||||
Remeasurement gain on previously held equity interests | (2) | |||||
Liabilities assumed | (30) | |||||
Deferred tax liabilities | (14) | |||||
Redeemable noncontrolling interests | (60) | |||||
Carrying value of previously held equity interest | (21) | |||||
Net assets acquired | $ 38 |
Acquisitions And Dispositions64
Acquisitions And Dispositions (Schedule of Pro Forma Financial Information) (Details) $ in Millions | 12 Months Ended |
Dec. 31, 2014USD ($) | |
Pro Forma Financial Information [Abstract] | |
Business Acquisition, Pro Forma Revenue | $ 6,559 |
Business Acquisition, Pro Forma Net Income | $ 1,168 |
Acquisitions And Dispositions65
Acquisitions And Dispositions (Schedule of Consolidation of Results of Business Combinations) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||||||||||
Dec. 31, 2016 | [1],[2] | Sep. 30, 2016 | [1],[2] | Jun. 30, 2016 | [1],[2] | Mar. 31, 2016 | [1],[2] | Dec. 31, 2015 | [1],[2] | Sep. 30, 2015 | [1],[2] | Jun. 30, 2015 | [1],[2] | Mar. 31, 2015 | [1],[2] | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Distribution | $ 3,213 | $ 3,068 | $ 2,842 | ||||||||||||||||
Advertising | 2,970 | 3,004 | 3,089 | ||||||||||||||||
Other | 314 | 322 | 334 | ||||||||||||||||
Revenues | $ 1,672 | $ 1,556 | $ 1,708 | $ 1,561 | $ 1,646 | $ 1,557 | $ 1,654 | $ 1,537 | 6,497 | 6,394 | 6,265 | ||||||||
Net income | $ 309 | $ 225 | $ 415 | $ 269 | $ 226 | $ 283 | $ 289 | $ 250 | $ 1,218 | $ 1,048 | 1,137 | ||||||||
Business Combinations [Member] | |||||||||||||||||||
Distribution | 220 | ||||||||||||||||||
Advertising | 84 | ||||||||||||||||||
Other | 72 | ||||||||||||||||||
Revenues | 376 | ||||||||||||||||||
Net income | $ 9 | ||||||||||||||||||
[1] | (b) 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. On March 31, 2015, the Company completed its acquisition of an additional 31% interest in Eurosport France upon resolution of certain regulatory matters. On June 30, 2015, the Company disposed of its radio operations in SBS Nordic. (See Note 3.) | ||||||||||||||||||
[2] | ) |
Investments (Narrative) (Detail
Investments (Narrative) (Details) € in Millions, shares in Millions | Dec. 02, 2016USD ($) | Nov. 12, 2015USD ($)shares | Oct. 01, 2015 | Mar. 31, 2015USD ($) | Mar. 31, 2015EUR (€) | Sep. 23, 2014 | May 30, 2014USD ($) | May 30, 2014EUR (€) | Jan. 02, 2011USD ($) | Dec. 31, 2015USD ($) | Mar. 31, 2012 | Sep. 30, 2016USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2016USD ($) | Jan. 01, 2026USD ($) | Jan. 01, 2016USD ($) | Jun. 30, 2014 | Dec. 21, 2012 |
Investments [Line Items] | ||||||||||||||||||||
Other-than-temporary impairment of AFS investments | $ 62,000,000 | $ 0 | $ 0 | |||||||||||||||||
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | 709,000,000 | $ 709,000,000 | ||||||||||||||||||
Carrying value of investments in VIE's accounted for using the equity method | $ 423,000,000 | 426,000,000 | 423,000,000 | 426,000,000 | ||||||||||||||||
Income taxes | 453,000,000 | 511,000,000 | 610,000,000 | |||||||||||||||||
Variable Interest Entity Equity Losses | 7,000,000 | 30,000,000 | 45,000,000 | |||||||||||||||||
Put Right Obligations | 0 | 0 | 0 | 0 | ||||||||||||||||
Investments in equity method investees, net | 18,000,000 | |||||||||||||||||||
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | $ 31,000,000 | 63,000,000 | (17,000,000) | 31,000,000 | ||||||||||||||||
various equity method investments, aggregated [Member] | ||||||||||||||||||||
Investments [Line Items] | ||||||||||||||||||||
Investments in equity method investees, net | $ 91,000,000 | |||||||||||||||||||
Lionsgate [Member] | ||||||||||||||||||||
Investments [Line Items] | ||||||||||||||||||||
Available-for-sale Securities, Noncurrent | 162,000,000 | 128,000,000 | 162,000,000 | 128,000,000 | ||||||||||||||||
Other-than-temporary impairment of AFS investments | 0 | 62,000,000 | 0 | 0 | 62,000,000 | |||||||||||||||
Purchase of Available for Sale Securities, Shares | shares | 5 | |||||||||||||||||||
Percentage ownership acquired of AFS security | 3.40% | |||||||||||||||||||
Available-for-sale Securities, Amortized Cost Basis | $ 195,000,000 | |||||||||||||||||||
Unrealized Gain (Loss) on Investments | (31,000,000) | 14,000,000 | ||||||||||||||||||
Increase (Decrease) in Fair Value of Hedged Item in Price Risk Fair Value Hedge | (2,000,000) | (19,000,000) | ||||||||||||||||||
GroupNineMediaJV [Member] | ||||||||||||||||||||
Investments [Line Items] | ||||||||||||||||||||
Business Combination, Consideration Transferred | $ 100,000,000 | |||||||||||||||||||
Other Investments and Securities, at Cost | $ 182,000,000 | |||||||||||||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 39.00% | |||||||||||||||||||
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | $ (50,000,000) | |||||||||||||||||||
Eurosport International [Member] | ||||||||||||||||||||
Investments [Line Items] | ||||||||||||||||||||
Business Combination, Consideration Transferred | $ 351,000,000 | € 259 | ||||||||||||||||||
Increase or Decrease in ownership, percentage | 31.00% | 31.00% | ||||||||||||||||||
Eurosport [Member] | ||||||||||||||||||||
Investments [Line Items] | ||||||||||||||||||||
Increase or Decrease in ownership, percentage | 49.00% | |||||||||||||||||||
Eurosport France [Member] | ||||||||||||||||||||
Investments [Line Items] | ||||||||||||||||||||
Business Combination, Consideration Transferred | $ 38,000,000 | € 36 | ||||||||||||||||||
Equity Method Investment, Ownership Percentage | 20.00% | |||||||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 51.00% | 51.00% | ||||||||||||||||||
Increase or Decrease in ownership, percentage | 49.00% | 31.00% | 31.00% | |||||||||||||||||
Discovery Family [Member] | ||||||||||||||||||||
Investments [Line Items] | ||||||||||||||||||||
Equity Method Investment, Ownership Percentage | 50.00% | |||||||||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 60.00% | |||||||||||||||||||
Increase or Decrease in ownership, percentage | 10.00% | |||||||||||||||||||
Series of Individually Immaterial Business Acquisitions [Member] | ||||||||||||||||||||
Investments [Line Items] | ||||||||||||||||||||
Business Combination, Consideration Transferred | 2,000,000 | 91,000,000 | 40,000,000 | |||||||||||||||||
OWN Joint Venture [Member] | ||||||||||||||||||||
Investments [Line Items] | ||||||||||||||||||||
Carrying value of investments in VIE's accounted for using the equity method | 373,000,000 | 320,000,000 | 373,000,000 | 320,000,000 | ||||||||||||||||
Advances to and note receivable from OWN | $ 384,000,000 | $ 311,000,000 | $ 384,000,000 | $ 311,000,000 | ||||||||||||||||
Debt instrument interest rate | 7.50% | 5.00% | 7.50% | 5.00% | ||||||||||||||||
Proceeds from Collection of Advance to Affiliate | $ 87,000,000 | $ 82,000,000 | ||||||||||||||||||
Interest and Other Income | $ 14,000,000 | 23,000,000 | ||||||||||||||||||
Borrowings schedule repayment period, in years | 4 | |||||||||||||||||||
OWN losses recognized at 100% | $ (104,000,000) | |||||||||||||||||||
Proportion of OWN's net loss allocated to Discovery Communications Inc | 100.00% | 100.00% | ||||||||||||||||||
Cumulative cap of put amount for purchase of Harpo's interest in Own, fourth put exercise date | $ 100,000,000 | |||||||||||||||||||
Put Right Obligations | $ 0 | 0 | ||||||||||||||||||
Solar Ventures [Member] [Member] | ||||||||||||||||||||
Investments [Line Items] | ||||||||||||||||||||
Variable Interest Entity, Reporting Entity Involvement, Maximum Loss Exposure, Amount | $ 238,000,000 | $ 238,000,000 | ||||||||||||||||||
Carrying value of investments in VIE's accounted for using the equity method | 39,000,000 | $ 39,000,000 | ||||||||||||||||||
Income taxes | 26,000,000 | |||||||||||||||||||
Variable Interest Entity Equity Losses | (24,000,000) | |||||||||||||||||||
Investments in equity method investees, net | 63,000,000 | |||||||||||||||||||
Scenario, Forecast [Member] | OWN Joint Venture [Member] | ||||||||||||||||||||
Investments [Line Items] | ||||||||||||||||||||
Cumulative cap of put amount for purchase of Harpo's interest in Own, fourth put exercise date | $ 400,000,000 | |||||||||||||||||||
Equity Method Investments [Member] | ||||||||||||||||||||
Investments [Line Items] | ||||||||||||||||||||
Interest and Other Income | $ 17,000,000 | $ 23,000,000 | $ 33,000,000 |
Investments Investments (Schedu
Investments Investments (Schedule of Investments) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Investments [Abstract] | ||
Trading securities - mutual funds | $ 160 | $ 149 |
Equity method investments | 557 | 567 |
Available-for-sale securities | 64 | 81 |
Available-for-sale Securities Pledged as Collateral | 64 | 81 |
Cost Method Investments | 245 | 43 |
Investments | $ 1,090 | $ 921 |
Investments Investments (Sche68
Investments Investments (Schedule of Available for Sale Investments) (Details) - USD ($) $ in Millions | 2 Months Ended | 12 Months Ended | 14 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2016 | Nov. 12, 2015 | |
Schedule of Available-for-sale Securities [Line Items] | ||||||
Other-than-temporary impairment of AFS investments | $ 62 | $ 0 | $ 0 | |||
Lionsgate [Member] | ||||||
Schedule of Available-for-sale Securities [Line Items] | ||||||
Available-for-sale Securities, Amortized Cost Basis | $ 195 | |||||
Unrealized Gain (Loss) on Investments | $ (31) | $ 14 | ||||
Available-for-sale Securities, Noncurrent | 162 | 128 | 162 | 128 | ||
Other-than-temporary impairment of AFS investments | 0 | $ 62 | $ 0 | $ 0 | 62 | |
Increase (Decrease) in Fair Value of Hedged Item in Price Risk Fair Value Hedge | $ (2) | $ (19) |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) $ in Billions | Dec. 31, 2016 | Dec. 31, 2015 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Senior notes, fair value | $ 7.4 | $ 6.6 |
Fair Value Measurements (Schedu
Fair Value Measurements (Schedule Of Assets And Liabilities Measured On Recurring Basis) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities - mutual funds | $ 160 | $ 149 |
Available-for-sale securities | 64 | 81 |
Available-for-sale Securities Pledged as Collateral | 64 | 81 |
Total assets | 380 | 349 |
Deferred compensation plan | 160 | 149 |
Total liabilities | 212 | 153 |
Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 288 | 311 |
Total liabilities | 160 | 149 |
Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 92 | 38 |
Total liabilities | 52 | 4 |
Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Total assets | 0 | 0 |
Total liabilities | 0 | 0 |
Prepaid expenses and other current assets [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities - mutual funds | 160 | 149 |
Derivative assets | 21 | |
Other Assets [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 15 | |
Other Noncurrent Assets [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale securities | 64 | |
Available-for-sale Securities Pledged as Collateral | 64 | |
Foreign Exchange Contract [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Liabilities | 18 | 4 |
Foreign Exchange Contract [Member] | Prepaid expenses and other current assets [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 31 | |
Equity Contract [Member] | Other Assets [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Asset, Noncurrent | 25 | |
Fair Value, Measurements, Recurring [Member] | Other Noncurrent Assets [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale securities | 0 | |
Available-for-sale Securities Pledged as Collateral | 0 | |
Fair Value, Measurements, Recurring [Member] | Other Noncurrent Assets [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale securities | 0 | |
Available-for-sale Securities Pledged as Collateral | 0 | |
Fair Value, Measurements, Recurring [Member] | Other Noncurrent Assets [Member] | Currency Swap [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 1 | |
Fair Value, Measurements, Recurring [Member] | Other Noncurrent Assets [Member] | Currency Swap [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 0 | |
Fair Value, Measurements, Recurring [Member] | Other Noncurrent Assets [Member] | Currency Swap [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 1 | |
Fair Value, Measurements, Recurring [Member] | Other Noncurrent Assets [Member] | Currency Swap [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 0 | |
Fair Value, Measurements, Recurring [Member] | Accrued Liabilities [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deferred compensation plan | 160 | 149 |
Fair Value, Measurements, Recurring [Member] | Accrued Liabilities [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deferred compensation plan | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Accrued Liabilities [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Deferred compensation plan | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Accrued Liabilities [Member] | Foreign Exchange Contract [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability | 0 | |
Fair Value, Measurements, Recurring [Member] | Accrued Liabilities [Member] | Foreign Exchange Contract [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability | 4 | |
Fair Value, Measurements, Recurring [Member] | Accrued Liabilities [Member] | Foreign Exchange Contract [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability | 0 | |
Fair Value, Measurements, Recurring [Member] | Other Assets [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale securities | 81 | |
Fair Value, Measurements, Recurring [Member] | Other Assets [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale securities | 64 | 81 |
Available-for-sale Securities Pledged as Collateral | 64 | 81 |
Fair Value, Measurements, Recurring [Member] | Other Assets [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale securities | 0 | |
Fair Value, Measurements, Recurring [Member] | Other Assets [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available-for-sale securities | 0 | |
Fair Value, Measurements, Recurring [Member] | Prepaid expenses and other current assets [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities - mutual funds | 160 | 149 |
Fair Value, Measurements, Recurring [Member] | Prepaid expenses and other current assets [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities - mutual funds | 0 | 0 |
Fair Value, Measurements, Recurring [Member] | Prepaid expenses and other current assets [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Trading securities - mutual funds | 0 | 0 |
Designated as Hedging Instrument [Member] | Accrued Liabilities [Member] | Foreign Exchange Contract [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability | 18 | 4 |
Designated as Hedging Instrument [Member] | Accrued Liabilities [Member] | Currency Swap [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability | 3 | 0 |
Designated as Hedging Instrument [Member] | Fair Value, Measurements, Recurring [Member] | Accrued Liabilities [Member] | Foreign Exchange Contract [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability | 0 | |
Designated as Hedging Instrument [Member] | Fair Value, Measurements, Recurring [Member] | Accrued Liabilities [Member] | Foreign Exchange Contract [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability | 18 | |
Designated as Hedging Instrument [Member] | Fair Value, Measurements, Recurring [Member] | Accrued Liabilities [Member] | Foreign Exchange Contract [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability | 0 | |
Designated as Hedging Instrument [Member] | Fair Value, Measurements, Recurring [Member] | Accrued Liabilities [Member] | Currency Swap [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability | 3 | |
Designated as Hedging Instrument [Member] | Fair Value, Measurements, Recurring [Member] | Accrued Liabilities [Member] | Currency Swap [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability | 0 | |
Designated as Hedging Instrument [Member] | Fair Value, Measurements, Recurring [Member] | Accrued Liabilities [Member] | Currency Swap [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability | 3 | |
Designated as Hedging Instrument [Member] | Fair Value, Measurements, Recurring [Member] | Accrued Liabilities [Member] | Currency Swap [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability | 0 | |
Designated as Hedging Instrument [Member] | Fair Value, Measurements, Recurring [Member] | Other Liabilities [Member] | Currency Swap [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability | 31 | |
Designated as Hedging Instrument [Member] | Fair Value, Measurements, Recurring [Member] | Other Liabilities [Member] | Currency Swap [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability | 0 | |
Designated as Hedging Instrument [Member] | Fair Value, Measurements, Recurring [Member] | Other Liabilities [Member] | Currency Swap [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability | 31 | |
Designated as Hedging Instrument [Member] | Fair Value, Measurements, Recurring [Member] | Other Liabilities [Member] | Currency Swap [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative Liability, Fair Value, Gross Liability | 0 | |
Designated as Hedging Instrument [Member] | Fair Value, Measurements, Recurring [Member] | Other Assets [Member] | Foreign Exchange Contract [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 2 | |
Designated as Hedging Instrument [Member] | Fair Value, Measurements, Recurring [Member] | Other Assets [Member] | Foreign Exchange Contract [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 0 | |
Designated as Hedging Instrument [Member] | Fair Value, Measurements, Recurring [Member] | Other Assets [Member] | Foreign Exchange Contract [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 2 | |
Designated as Hedging Instrument [Member] | Fair Value, Measurements, Recurring [Member] | Other Assets [Member] | Foreign Exchange Contract [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 0 | |
Designated as Hedging Instrument [Member] | Fair Value, Measurements, Recurring [Member] | Other Assets [Member] | Currency Swap [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 35 | |
Designated as Hedging Instrument [Member] | Fair Value, Measurements, Recurring [Member] | Other Assets [Member] | Currency Swap [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 0 | |
Designated as Hedging Instrument [Member] | Fair Value, Measurements, Recurring [Member] | Other Assets [Member] | Currency Swap [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 35 | |
Designated as Hedging Instrument [Member] | Fair Value, Measurements, Recurring [Member] | Other Assets [Member] | Currency Swap [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 0 | |
Designated as Hedging Instrument [Member] | Fair Value, Measurements, Recurring [Member] | Prepaid expenses and other current assets [Member] | Foreign Exchange Contract [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 0 | 0 |
Designated as Hedging Instrument [Member] | Fair Value, Measurements, Recurring [Member] | Prepaid expenses and other current assets [Member] | Foreign Exchange Contract [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 31 | 21 |
Designated as Hedging Instrument [Member] | Fair Value, Measurements, Recurring [Member] | Prepaid expenses and other current assets [Member] | Foreign Exchange Contract [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 0 | 0 |
Lionsgate [Member] | Designated as Hedging Instrument [Member] | Fair Value, Measurements, Recurring [Member] | Other Assets [Member] | Equity Contract [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 0 | 0 |
Lionsgate [Member] | Designated as Hedging Instrument [Member] | Fair Value, Measurements, Recurring [Member] | Other Assets [Member] | Equity Contract [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | 25 | 15 |
Lionsgate [Member] | Designated as Hedging Instrument [Member] | Fair Value, Measurements, Recurring [Member] | Other Assets [Member] | Equity Contract [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivative assets | $ 0 | $ 0 |
Content Rights (Narrative) (Det
Content Rights (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Percentage of unamortized content rights | 96.00% | |
Years from date of balance sheet | P3Y | |
Scenario, Forecast [Member] | ||
Amortization of unamortized content rights | $ 958 |
Content Rights (Schedule Of Con
Content Rights (Schedule Of Content Rights) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Licensed content rights: | ||
Content rights, at cost | $ 2,141 | $ 2,202 |
Accumulated amortization | (3,849) | (3,584) |
Total content rights, net | 2,399 | 2,343 |
Current portion | (310) | (313) |
Noncurrent portion | 2,089 | 2,030 |
Media Content [Member] | ||
Produced content rights: | ||
Completed | 3,920 | 3,624 |
In-production | 420 | 376 |
Coproduced content rights: | ||
Completed | 632 | 691 |
In-production | 57 | 62 |
Licensed content rights: | ||
Acquired | 1,090 | 1,078 |
Prepaid | 129 | 96 |
Content rights, at cost | $ 6,248 | $ 5,927 |
Content Rights Content Rights (
Content Rights Content Rights (Schedule of Content Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | ||
ContentImpairmentsInRestructuringAndOtherCharges | $ 3 | $ 21 | $ 55 | |
Content amortization | 1,701 | 1,628 | 1,462 | |
Other production charges | 272 | 231 | 155 | |
Content impairments | 72 | 81 | 95 | [1] |
Total content expense | 2,045 | 1,940 | 1,712 | |
Other Restructuring [Member] | ||||
ContentImpairmentsInRestructuringAndOtherCharges | $ 7 | $ 21 | $ 55 | |
[1] | (a) Content impairments are generally recorded as a component of costs of revenue. However during the years ended December 31, 2016, 2015 and 2014, content impairments of $7 million, $21 million, and $55 million, respectively, were reflected as a component of restructuring and other charges. These charges resulted from the cancellation of certain series due to legal circumstances pertaining to the associated talent and from the consolidation and subsequent rebranding of The Hub Network to Discovery Family in 2014. (See Note 15.) |
Property And Equipment (Narrati
Property And Equipment (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Property and Equipment [Line Items] | |||
Capital leased assets, gross | $ 284 | $ 271 | |
Capital Lease, Accumulated Amortization | 155 | 142 | |
Capitalized software costs, net | 96 | 90 | |
Depreciation expense | 322 | 330 | $ 329 |
Rental expense for operating leases | 122 | 134 | 143 |
Property and Equipment [Member] | |||
Property and Equipment [Line Items] | |||
Depreciation expense | $ 139 | $ 138 | $ 131 |
Property And Equipment (Compone
Property And Equipment (Components Of Property And Equipment) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Property, Plant and Equipment [Abstract] | ||
Land, buildings and leasehold improvements | $ 327 | $ 338 |
Broadcast equipment | 607 | 603 |
Capitalized software costs | 347 | 311 |
Office equipment, furniture, fixtures and other | 333 | 309 |
Property and equipment, at cost | 1,614 | 1,561 |
Accumulated depreciation | (1,132) | (1,073) |
Property and equipment, net | $ 482 | $ 488 |
Goodwill And Intangible Asset76
Goodwill And Intangible Assets (Narrative) (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Amortization expense, excluding impairment charges, related to finite-lived intangible assets | $ 183,000,000 | $ 192,000,000 | $ 198,000,000 |
Goodwill, Impairment Loss | 0 | $ 0 | |
U.S. Networks [Member] | |||
Accumulated impairments | $ 20,000,000 |
Goodwill And Intangible Asset77
Goodwill And Intangible Assets (Goodwill By Reportable Segment) (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | $ 8,164,000,000 | $ 8,236,000,000 |
Acquisitions | 123,000,000 | |
Dispositions | (22,000,000) | (41,000,000) |
Foreign currency translation | (102,000,000) | (154,000,000) |
Goodwill, Ending Balance | 8,040,000,000 | 8,164,000,000 |
Goodwill, Impairment Loss | 0 | 0 |
U.S. Networks [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | 5,287,000,000 | 5,287,000,000 |
Acquisitions | 0 | |
Dispositions | (22,000,000) | 0 |
Foreign currency translation | 0 | 0 |
Goodwill, Ending Balance | 5,265,000,000 | 5,287,000,000 |
International Networks [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | 2,800,000,000 | 2,869,000,000 |
Acquisitions | 123,000,000 | |
Dispositions | 0 | (41,000,000) |
Foreign currency translation | (92,000,000) | (151,000,000) |
Goodwill, Ending Balance | 2,708,000,000 | 2,800,000,000 |
Education And Other [Member] | ||
Goodwill [Line Items] | ||
Goodwill, Beginning Balance | 77,000,000 | 80,000,000 |
Acquisitions | 0 | |
Dispositions | 0 | 0 |
Foreign currency translation | (10,000,000) | (3,000,000) |
Goodwill, Ending Balance | $ 67,000,000 | $ 77,000,000 |
Goodwill And Intangible Asset78
Goodwill And Intangible Assets (Schedule Of Intangible Assets Subject To Amortization) (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | $ 2,141 | $ 2,202 |
Accumulated Amortization | (793) | (636) |
Finite-lived intangible assets net | $ 1,348 | 1,566 |
Trademarks [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted Average Amortization Period (Years) | 10 years | |
Finite-Lived Intangible Assets, Gross | $ 412 | 433 |
Accumulated Amortization | (165) | (130) |
Finite-lived intangible assets net | $ 247 | 303 |
Customer Relationships [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted Average Amortization Period (Years) | 17 years | |
Finite-Lived Intangible Assets, Gross | $ 1,632 | 1,664 |
Accumulated Amortization | (594) | (481) |
Finite-lived intangible assets net | $ 1,038 | 1,183 |
Others [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Weighted Average Amortization Period (Years) | 14 years | |
Finite-Lived Intangible Assets, Gross | $ 97 | 105 |
Accumulated Amortization | (34) | (25) |
Finite-lived intangible assets net | $ 63 | $ 80 |
Goodwill And Intangible Asset79
Goodwill And Intangible Assets (Schedule Of Intangible Assets Not Subject To Amortization) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Indefinite-lived Intangible Assets by Major Class [Line Items] | ||
Indefinite-lived intangible assets net (Trademarks) | $ 164 | $ 164 |
Goodwill And Intangible Asset80
Goodwill And Intangible Assets (Amortization Expense For Intangible Assets) (Details) $ in Millions | Dec. 31, 2016USD ($) |
Goodwill and Intangible Assets Disclosure [Abstract] | |
2,015 | $ 165 |
2,017 | 155 |
2,018 | 151 |
2,019 | 147 |
2,020 | 125 |
Thereafter | $ 605 |
Debt (Narrative) (Details)
Debt (Narrative) (Details) - USD ($) $ in Millions | Mar. 11, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2016 | Mar. 02, 2015 |
Debt Instrument [Line Items] | ||||||
Long-term Debt, Gross | $ 7,990 | $ 7,801 | ||||
Line of Credit Facility, Expiration Date | Feb. 4, 2021 | |||||
Line of Credit Facility, Amount Outstanding | $ 550 | 782 | ||||
Long-termlineofcreditforeigndenominated | 207 | |||||
Line of Credit Facility, Collateral Fees | 0.002 | |||||
Borrowings under revolving credit facility | $ 613 | 1,016 | $ 698 | |||
Commercial Paper | 48 | 93 | ||||
1.90% Euro Senior Notes [Member] [Domain] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Gross | $ 627 | 656 | ||||
Debt instrument interest rate | 1.90% | |||||
Debt Instrument, Maturity Date | Mar. 19, 2027 | |||||
3.45% Senior Notes [Member] [Domain] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Gross | $ 300 | 300 | $ 300 | |||
Debt instrument interest rate | 3.45% | |||||
Debt Instrument, Maturity Date | Mar. 15, 2025 | |||||
2.375% Senior Notes [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Gross | $ 314 | 328 | ||||
Debt instrument interest rate | 2.375% | |||||
Debt Instrument, Maturity Date | Mar. 7, 2022 | |||||
4.90 Senior Notes [Member] [Domain] [Domain] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Gross | $ 500 | $ 500 | 0 | |||
Debt instrument interest rate | 4.90% | 4.90% | ||||
Debt Instrument, Maturity Date | Mar. 11, 2026 | |||||
Payments of Debt Issuance Costs | $ 3 | |||||
Debt instrument total discount | $ 2 | |||||
Revolving Credit Facility [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,500 | $ 2,000 | ||||
Debt, Weighted Average Interest Rate | 2.05% | 1.55% | ||||
Revolver sublimit for standby letters of credit [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | 100 | |||||
Revolver sublimit for swing line loans [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 50 | |||||
Commercial Paper [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Debt, Weighted Average Interest Rate | 1.20% | 1.10% | ||||
London Interbank Offered Rate (LIBOR) [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 1.30% | |||||
Base Rate [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate | 0.30% | |||||
Discovery Family [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 40.00% | |||||
Discovery Japan [Member] | ||||||
Debt Instrument [Line Items] | ||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 20.00% |
Debt (Outstanding Debt) (Detail
Debt (Outstanding Debt) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Mar. 11, 2016 | Dec. 31, 2015 | Mar. 02, 2015 |
Debt Instrument [Line Items] | ||||
Line of Credit Facility, Amount Outstanding | $ 550 | $ 782 | ||
Commercial Paper | 48 | 93 | ||
Capital Lease Obligations | 151 | 142 | ||
Total debt | 7,990 | 7,801 | ||
Unamortized discount | (67) | (66) | ||
Debt, net | 7,923 | 7,735 | ||
Current portion of debt | (82) | (119) | ||
Noncurrent portion of debt | 7,841 | 7,616 | ||
5.625% Senior Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Total debt | 500 | 500 | ||
5.05% Senior Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Total debt | 1,300 | 1,300 | ||
4.375% Senior Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Total debt | 650 | 650 | ||
2.375% Senior Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Total debt | 314 | 328 | ||
3.30% Senior Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Total debt | 500 | 500 | ||
3.25% Percent Senior Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Total debt | 350 | 350 | ||
3.45% Senior Notes [Member] [Domain] | ||||
Debt Instrument [Line Items] | ||||
Total debt | 300 | 300 | $ 300 | |
4.90 Senior Notes [Member] [Domain] [Domain] | ||||
Debt Instrument [Line Items] | ||||
Total debt | 500 | $ 500 | 0 | |
1.90% Euro Senior Notes [Member] [Domain] | ||||
Debt Instrument [Line Items] | ||||
Total debt | 627 | 656 | ||
6.35% Senior Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Total debt | 850 | 850 | ||
4.95% Senior Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Total debt | 500 | 500 | ||
4.875% Senior Notes [Member] | ||||
Debt Instrument [Line Items] | ||||
Total debt | $ 850 | $ 850 |
Debt (Outstanding Debt, Additio
Debt (Outstanding Debt, Additional Information) (Details) | 12 Months Ended | |
Dec. 31, 2016 | Mar. 11, 2016 | |
4.90 Senior Notes [Member] [Domain] [Domain] | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 4.90% | 4.90% |
Long-term debt, frequency of periodic payments | semi-annual | |
Debt Instrument, Maturity Date | Mar. 11, 2026 | |
5.625% Senior Notes [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 5.625% | |
Long-term debt, frequency of periodic payments | semi-annual | |
Debt Instrument, Maturity Date | Aug. 15, 2019 | |
5.05% Senior Notes [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 5.05% | |
Long-term debt, frequency of periodic payments | semi-annual | |
Debt Instrument, Maturity Date | Jun. 1, 2020 | |
4.375% Senior Notes [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 4.375% | |
Long-term debt, frequency of periodic payments | semi-annual | |
Debt Instrument, Maturity Date | Jun. 15, 2021 | |
2.375% Senior Notes [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 2.375% | |
Long-term debt, frequency of periodic payments | annual | |
Debt Instrument, Maturity Date | Mar. 7, 2022 | |
3.25% Percent Senior Notes [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 3.25% | |
Long-term debt, frequency of periodic payments | semi-annual | |
Debt Instrument, Maturity Date | Apr. 1, 2023 | |
3.45% Senior Notes [Member] [Domain] | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 3.45% | |
Long-term debt, frequency of periodic payments | semi-annual | |
Debt Instrument, Maturity Date | Mar. 15, 2025 | |
1.90% Euro Senior Notes [Member] [Domain] | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 1.90% | |
Long-term debt, frequency of periodic payments | annual | |
Debt Instrument, Maturity Date | Mar. 19, 2027 | |
6.35% Senior Notes [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 6.35% | |
Long-term debt, frequency of periodic payments | semi-annual | |
Debt Instrument, Maturity Date | Jun. 1, 2040 | |
3.30% Senior Notes [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 3.30% | |
Long-term debt, frequency of periodic payments | semi-annual | |
Debt Instrument, Maturity Date | May 15, 2022 | |
4.95% Senior Notes [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 4.95% | |
Long-term debt, frequency of periodic payments | semi-annual | |
Debt Instrument, Maturity Date | May 15, 2042 | |
4.875% Senior Notes [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument interest rate | 4.875% | |
Long-term debt, frequency of periodic payments | semi-annual | |
Debt Instrument, Maturity Date | Apr. 1, 2043 |
Debt (Schedule Of Debt Payments
Debt (Schedule Of Debt Payments) (Details) $ in Millions | Dec. 31, 2016USD ($) |
Extinguishment of Debt [Line Items] | |
2,015 | $ 0 |
2,016 | 0 |
2,017 | 500 |
2,018 | 1,300 |
2,019 | 650 |
Thereafter | $ 4,791 |
Derivative Financial Instrume85
Derivative Financial Instruments (Narrative) (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | 120 Months Ended | |||||
Oct. 31, 2016 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Mar. 31, 2025 | Nov. 10, 2016 | Sep. 30, 2016 | Feb. 27, 2015 | |
Derivative [Line Items] | |||||||||
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | $ 9,000,000 | ||||||||
Long-term Debt, Gross | 7,990,000,000 | $ 7,801,000,000 | |||||||
Derivative Asset, Fair Value, Amount Offset Against Collateral | 0 | 0 | |||||||
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net | 1,000,000 | ||||||||
Interest Rate Contract [Member] | |||||||||
Derivative [Line Items] | |||||||||
Derivative Instruments Not Designated as Hedging Instruments, Gain | $ 1,000,000 | ||||||||
AOCI Including Portion Attributable to Noncontrolling Interest, before Tax | $ (40,000,000) | $ 40,000,000 | |||||||
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net | $ 11,000,000 | ||||||||
Foreign Exchange Forward and Forward Exchange Option [Member] | |||||||||
Derivative [Line Items] | |||||||||
Derivative, Notional Amount | $ 125,000,000 | ||||||||
Derivative Asset, Fair Value, Gross Asset | $ 14,000,000 | ||||||||
Equity Contract [Member] | |||||||||
Derivative [Line Items] | |||||||||
Derivative, Notional Amount | $ 0 | ||||||||
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | |||||||||
Derivative [Line Items] | |||||||||
Derivative, Notional Amount | 677,000,000 | 868,000,000 | |||||||
Designated as Hedging Instrument [Member] | Currency Swap [Member] | |||||||||
Derivative [Line Items] | |||||||||
Derivative, Notional Amount | 751,000,000 | 0 | |||||||
Designated as Hedging Instrument [Member] | Equity Contract [Member] | |||||||||
Derivative [Line Items] | |||||||||
Derivative, Notional Amount | 97,000,000 | ||||||||
Not Designated as Hedging Instrument [Member] | |||||||||
Derivative [Line Items] | |||||||||
Derivative, Notional Amount | 0 | ||||||||
Not Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | |||||||||
Derivative [Line Items] | |||||||||
Derivative, Notional Amount | 25,000,000 | ||||||||
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | |||||||||
Derivative [Line Items] | |||||||||
Derivative, Notional Amount | 64,000,000 | ||||||||
Accrued Liabilities [Member] | Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | |||||||||
Derivative [Line Items] | |||||||||
Derivative, Notional Amount | $ 490,000,000 | ||||||||
Interest Expense [Member] | Interest Rate Contract [Member] | |||||||||
Derivative [Line Items] | |||||||||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | $ 3,000,000 | $ 3,000,000 | $ 0 | ||||||
Scenario, Forecast [Member] | Interest Expense [Member] | Interest Rate Contract [Member] | |||||||||
Derivative [Line Items] | |||||||||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | $ 29,000,000 |
Derivative Financial Instrume86
Derivative Financial Instruments (Schedule of Derivative Instruments, Fair Value) (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 | Feb. 27, 2015 | Dec. 31, 2014 |
Not Designated as Hedging Instrument [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative, Notional Amount | $ 0 | |||
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative, Notional Amount | $ 677,000,000 | 868,000,000 | ||
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Prepaid Expenses and Other Current Assets [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 31,000,000 | 21,000,000 | ||
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Other Noncurrent Assets [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 0 | 2,000,000 | ||
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member] | Accrued Liabilities [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Liability, Fair Value, Gross Liability | 18,000,000 | 4,000,000 | ||
Foreign Exchange Contract [Member] | Not Designated as Hedging Instrument [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative, Notional Amount | 64,000,000 | |||
Currency Swap [Member] | Designated as Hedging Instrument [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative, Notional Amount | 751,000,000 | 0 | ||
Currency Swap [Member] | Designated as Hedging Instrument [Member] | Other Noncurrent Assets [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 35,000,000 | 0 | ||
Currency Swap [Member] | Designated as Hedging Instrument [Member] | Accrued Liabilities [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Liability, Fair Value, Gross Liability | 3,000,000 | 0 | ||
Currency Swap [Member] | Designated as Hedging Instrument [Member] | Other Noncurrent Liabilities [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Liability, Fair Value, Gross Liability | 31,000,000 | 0 | ||
Currency Swap [Member] | Not Designated as Hedging Instrument [Member] | Other Noncurrent Assets [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 1,000,000 | 0 | ||
Equity Contract [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative, Notional Amount | $ 0 | |||
Equity Contract [Member] | Designated as Hedging Instrument [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative, Notional Amount | 97,000,000 | |||
Equity Contract [Member] | Designated as Hedging Instrument [Member] | Other Noncurrent Assets [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative Asset, Fair Value, Gross Asset | 25,000,000 | $ 15,000,000 | ||
Interest Rate Contract [Member] | Designated as Hedging Instrument [Member] | Accrued Liabilities [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative, Notional Amount | $ 490,000,000 | |||
Interest Rate Contract [Member] | Not Designated as Hedging Instrument [Member] | ||||
Derivatives, Fair Value [Line Items] | ||||
Derivative, Notional Amount | $ 25,000,000 |
Derivative Financial Instrume87
Derivative Financial Instruments (Schedule of Comprehensive Income Impact of Items Designated as Hedges (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Foreign Exchange Contract [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | $ (1) | $ 34 | $ 14 |
Interest Rate Contract [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | 40 | (11) | (28) |
Distribution Revenue [Member] | Foreign Exchange Contract [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | (25) | 23 | 0 |
Advertising Revenue [Member] | Foreign Exchange Contract [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | (2) | 2 | 0 |
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 | 27 | 9 | 1 |
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 | 4 | 3 |
Derivative, Net Hedge Ineffectiveness Gain (Loss) | 1 | 0 | 0 |
Gain (Loss) from Components Excluded from Assessment of Cash Flow Hedge Effectiveness, Net | (5) | 0 | 0 |
Other Expense [Member] | Interest Rate Contract [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative, Net Hedge Ineffectiveness Gain (Loss) | 0 | (11) | 0 |
Interest Expense [Member] | Interest Rate Contract [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net | $ (3) | $ (3) | $ 0 |
Derivative Financial Instrume88
Derivative Financial Instruments Schedule of Comprehensive Income Impact of Items Designated as Net Investment Hedges (Details) - Currency Swap [Member] - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Derivative [Line Items] | |||
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net | $ 1 | $ 0 | $ 0 |
Interest Paid, Net | (2) | 0 | 0 |
Derivatives used in Net Investment Hedge, Increase (Decrease), Gross of Tax | $ 3 | $ 0 | $ 0 |
Derivative Financial Instrume89
Derivative Financial Instruments (Schedule of Pre-Tax Gains (Losses) of Items Designated as Fair Value Hedges) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net | $ (1) | ||
Equity Contract [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Change in Unrealized Gain (Loss) on Hedged Item in Fair Value Hedge | (17) | $ (2) | $ 0 |
Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments | 16 | 2 | 0 |
Gain (Loss) from Components Excluded from Assessment of Fair Value Hedge Effectiveness, Net | (6) | 10 | 0 |
Equity Contract [Member] | Other Expense [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net | $ (7) | $ 10 | $ 0 |
Derivative Financial Instrume90
Derivative Financial Instruments (Schedule of Pre-Tax Gains (Losses) of Items Not Designated as Hedges) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ (1) | $ 6 | |
Foreign Exchange Contract [Member] | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ 1 |
Redeemable Noncontrolling Int91
Redeemable Noncontrolling Interest (Narrative) (Details) € in Millions, $ in Millions | Oct. 01, 2015USD ($) | Oct. 01, 2015EUR (€) | Mar. 31, 2015USD ($) | Sep. 23, 2014 | May 30, 2014USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2016EUR (€) | Sep. 30, 2015USD ($) | Dec. 31, 2022 | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Sep. 30, 2015EUR (€) |
Redeemable Noncontrolling Interest [Line Items] | |||||||||||||
Initial fair value of redeemable noncontrolling interests of acquired businesses | $ 0 | $ 60 | $ 796 | ||||||||||
Purchase of redeemable noncontrolling interests | 0 | 548 | 1 | ||||||||||
Purchase of redeemable noncontrolling interest | 0 | 5 | |||||||||||
RedeemableNoncontrollingInterestDecreaseFromRedemptions | $ 551 | 0 | 551 | 6 | |||||||||
Adjustments of redemption values to the floor | $ 0 | 73 | 31 | ||||||||||
Terms Of Put Arrangement | 1 year | ||||||||||||
Additional Paid-In Capital [Member] | |||||||||||||
Redeemable Noncontrolling Interest [Line Items] | |||||||||||||
Purchase of redeemable noncontrolling interest | 61 | 5 | |||||||||||
Accumulated Other Comprehensive (Loss)/Income [Member] | |||||||||||||
Redeemable Noncontrolling Interest [Line Items] | |||||||||||||
Purchase of redeemable noncontrolling interest | $ (61) | $ 0 | |||||||||||
Eurosport France [Member] | |||||||||||||
Redeemable Noncontrolling Interest [Line Items] | |||||||||||||
Initial fair value of redeemable noncontrolling interests of acquired businesses | $ 60 | ||||||||||||
Increase or Decrease in ownership, percentage | 49.00% | 49.00% | 31.00% | ||||||||||
Discovery Family [Member] | |||||||||||||
Redeemable Noncontrolling Interest [Line Items] | |||||||||||||
Increase or Decrease in ownership, percentage | 10.00% | ||||||||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 40.00% | 40.00% | 40.00% | ||||||||||
Eurosport International [Member] | |||||||||||||
Redeemable Noncontrolling Interest [Line Items] | |||||||||||||
Initial fair value of redeemable noncontrolling interests of acquired businesses | $ 558 | ||||||||||||
Increase or Decrease in ownership, percentage | 31.00% | ||||||||||||
Eurosport [Member] | |||||||||||||
Redeemable Noncontrolling Interest [Line Items] | |||||||||||||
Increase or Decrease in ownership, percentage | 49.00% | 49.00% | |||||||||||
Purchase of redeemable noncontrolling interests | $ 548 | € 491 | |||||||||||
MandatorilyRedeemableNoncontrollinginterestreclassifiedtocurrentliabilities | € | € 491 | ||||||||||||
Adjustments of redemption values to the floor | $ 28 | € 25 | |||||||||||
Discovery Japan [Member] | |||||||||||||
Redeemable Noncontrolling Interest [Line Items] | |||||||||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 20.00% | 20.00% | 20.00% | ||||||||||
Scenario, Forecast [Member] | Discovery Family [Member] | |||||||||||||
Redeemable Noncontrolling Interest [Line Items] | |||||||||||||
Terms Of Put Arrangement | 1 year |
Redeemable Noncontrolling Int92
Redeemable Noncontrolling Interest (Schedule of Redeemable Noncontrolling Interest) (Details) - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Increase (Decrease) In Redeemable Noncontrolling Interest [Roll Forward] | ||||
Beginning Balance | $ 747 | $ 241 | $ 747 | $ 36 |
Initial fair value of redeemable noncontrolling interests of acquired businesses | 0 | 60 | 796 | |
Purchase of subsidiary shares at fair value | $ (551) | 0 | (551) | (6) |
Cash distributions to redeemable noncontrolling interests | (22) | (42) | (2) | |
Net income attributable to redeemable noncontrolling interests | 23 | 13 | (4) | |
Other comprehensive loss attributable to redeemable noncontrolling interests | 0 | (23) | (40) | |
Currency translation on redemption values | 1 | (36) | (64) | |
Adjustments of redemption values to the floor | 0 | 73 | 31 | |
Ending Balance | $ 243 | $ 241 | $ 747 |
Equity (Narrative) (Details)
Equity (Narrative) (Details) $ / shares in Units, $ in Millions | Dec. 02, 2016USD ($)shares | Feb. 25, 2016shares | Aug. 06, 2014 | Mar. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2016USD ($)$ / sharesshares | Dec. 31, 2016USD ($)shares$ / shares | Dec. 31, 2015USD ($)shares | Dec. 31, 2014USD ($)shares | Dec. 15, 2016USD ($) | Aug. 22, 2016USD ($) | Sep. 17, 2008shares |
Voting and purchase rights subject to agreement between Dr. Malone and David Zaslav | 6,000,000 | 6,000,000 | |||||||||
Authorization under the stock repurchase program | $ | $ 7,500 | $ 7,500 | |||||||||
Treasury Stock, Value | $ | $ 6,356 | $ 6,356 | $ 5,461 | ||||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 2 | ||||||||||
Stock authorized (in shares) | 150,000,000 | 150,000,000 | |||||||||
Share Conversion (in shares) | 961,538 | 292,500 | |||||||||
Repurchases of stock and stock settlements of common stock repurchase contracts | $ | $ 1,374 | $ 951 | $ 1,422 | ||||||||
historical stock repurchases, gross, as a percent of shares outstanding at inception of stock repurchase program | 36.00% | 36.00% | |||||||||
Convertible Preferred Stock, Shares Issued upon Conversion | 1,923,076 | 585,000 | |||||||||
historical stock repurchases, net of new issuances, as a percentage of shares outstanding at inception of stock repurchase program | 31.00% | 31.00% | |||||||||
Prepaidcommonstockrepurchaseinitialshareamount | 2,000,000 | 0 | 0 | ||||||||
Common Stock [Member] | |||||||||||
Number of stock classes | 3 | ||||||||||
Series A Common Stock [Member] | |||||||||||
Common Stock, Voting Rights | 1 | ||||||||||
Treasury Stock, Shares | 3,000,000 | 3,000,000 | |||||||||
Treasury Stock, Value | $ | $ 171 | $ 171 | |||||||||
Series B Common Stock [Member] | |||||||||||
Common Stock, Voting Rights | 10 | ||||||||||
Common Stock Conversion Option | 1 | ||||||||||
Stock authorized (in shares) | 100,000,000 | 100,000,000 | 100,000,000 | ||||||||
Preferred stock released from escrow (in shares) | 100,000,000 | 100,000,000 | 7,000,000 | ||||||||
Series C Common Stock [Member] | |||||||||||
Treasury Stock, Shares | 150,000,000 | 150,000,000 | |||||||||
Treasury Stock, Value | $ | $ 6,200 | $ 6,200 | |||||||||
Series A Convertible Preferred Stock [Member] | |||||||||||
Stock authorized (in shares) | 75,000,000 | 75,000,000 | |||||||||
Temporary equity automatic conversion, percentage | 80.00% | 80.00% | |||||||||
Preferred Stock Conversion Option | 1 | ||||||||||
Convertible preferred stock, liquidation preference | $ / shares | $ 0.01 | $ 0.01 | |||||||||
Preferred Stock, undesignated [Member] | |||||||||||
Stock authorized (in shares) | 50,000,000 | 50,000,000 | |||||||||
Series C Convertible Preferred Stock [Member] | |||||||||||
Stock authorized (in shares) | 75,000,000 | 75,000,000 | |||||||||
Convertible preferred stock, liquidation preference | $ / shares | $ 0.01 | $ 0.01 | |||||||||
Preferred Stock [Member] | |||||||||||
Number of stock classes | 2 | ||||||||||
Advance Newhouse [Member] | Series A Convertible Preferred Stock [Member] | |||||||||||
Preferred stock released from escrow (in shares) | 70,000,000 | ||||||||||
Advance Programming Holdings, LLC [Member] | Series C Convertible Preferred Stock [Member] | |||||||||||
Preferred stock released from escrow (in shares) | 70,000,000 | ||||||||||
Repurchases of preferred stock, shares | 9,100,000 | 3,900,000 | |||||||||
Repurchases of stock and stock settlements of common stock repurchase contracts | $ | $ 479 | $ 253 | |||||||||
Expiration of repurchase program1 [Member] | |||||||||||
Remaining authorization | $ | $ 1,100 | $ 1,100 | |||||||||
Scenario, Forecast [Member] | Advance Programming Holdings, LLC [Member] | Series C Convertible Preferred Stock [Member] | |||||||||||
Repurchases of preferred stock, shares | 1,000,000 | ||||||||||
Repurchases of stock and stock settlements of common stock repurchase contracts | $ | $ 60 | ||||||||||
prepaid stock repurchase contract [Member] | |||||||||||
Prepaidrepurchaseofcommonstock | $ | $ 71 | $ 57 | $ 71 | ||||||||
Cappriceprepaidstockrepurchasecontract | $ / shares | $ 25.86 | ||||||||||
PrepaidStockRepurchaseContractValue | $ | $ 75 | ||||||||||
Prepaidcommonstockrepurchaseinitialshareamount | 2,800,000 | ||||||||||
Subsequent Event [Member] | prepaid stock repurchase contract [Member] | |||||||||||
Cappriceprepaidstockrepurchasecontract | $ / shares | $ 28.16 | ||||||||||
PrepaidStockRepurchaseContractValue | $ | $ 60 | ||||||||||
Prepaidcommonstockrepurchaseinitialshareamount | 2,000,000 |
Equity (Stock Repurchase Progra
Equity (Stock Repurchase Program) (Details) - USD ($) shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Equity, Class of Treasury Stock [Line Items] | |||
Repurchases of stock and stock settlements of common stock repurchase contracts | $ 1,374 | $ 951 | $ 1,422 |
Series C Common Stock [Member] | |||
Equity, Class of Treasury Stock [Line Items] | |||
Shares Repurchased | 34.8 | 23.7 | 21.3 |
Payments for Repurchase of Common Stock | $ 895 | $ 698 | $ 1,232 |
Advance Programming Holdings, LLC [Member] | Series C Convertible Preferred Stock [Member] | |||
Equity, Class of Treasury Stock [Line Items] | |||
Repurchases of preferred stock, shares | 9.1 | 3.9 | |
Repurchases of stock and stock settlements of common stock repurchase contracts | $ 479 | $ 253 |
Equity (Tax Effects Related To
Equity (Tax Effects Related To Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss), before Reclassification and Tax | $ (234) | $ (249) | $ (401) |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, before Tax | (34) | (33) | 2 |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax | 39 | 23 | (14) |
Other Comprehensive Income (Loss), before Tax | (148) | (252) | (429) |
Other Comprehensive Income (Loss), Foreign Currency Translation Gain (Loss) Arising During Period, Tax | 41 | 19 | 9 |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Tax | 6 | 6 | (1) |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax | (14) | (8) | 6 |
Other Comprehensive Income (Loss), Tax | 19 | 25 | 17 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax | (193) | (230) | (392) |
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax | (28) | (27) | 1 |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | 25 | 15 | (8) |
Other Comprehensive Income (Loss), Net Of Tax Including Portion Attributable To Redeemable | (129) | (227) | (412) |
Currency Translation Adjustments [Member] | |||
Other Comprehensive Income (Loss), before Tax | (231) | (220) | (408) |
Other Comprehensive Income (Loss), Tax | 40 | 19 | 9 |
Other Comprehensive Income (Loss), Net Of Tax Including Portion Attributable To Redeemable | (191) | (201) | (399) |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | |||
Other Comprehensive Income (Loss), before Tax | 45 | (31) | (3) |
Other Comprehensive Income (Loss), Tax | (7) | 6 | 1 |
Other Comprehensive Income (Loss), Net Of Tax Including Portion Attributable To Redeemable | 38 | (25) | (2) |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | |||
Other Comprehensive Income (Loss), before Tax | 38 | (1) | (18) |
Other Comprehensive Income (Loss), Tax | (14) | 0 | 7 |
Other Comprehensive Income (Loss), Net Of Tax Including Portion Attributable To Redeemable | 24 | (1) | (11) |
Gain on Disposition [Member] | |||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment Realized upon Sale or Liquidation, before Tax | 0 | 23 | 0 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, before Tax | 0 | 0 | (5) |
Other Comprehensive Income (Loss), Foreign Currency Translation Reclassification Adjustment Realized upon Sale or Liquidation, Tax | 0 | 0 | 0 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Tax | 0 | 0 | 2 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment Realized upon Sale or Liquidation, Net of Tax | 0 | 23 | 0 |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | 0 | 0 | 3 |
Other Expense [Member] | |||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment Realized upon Sale or Liquidation, before Tax | 0 | 6 | (7) |
Market Value Adjustments And Reclassifications For Securities And Derivatives Before Tax | (4) | 7 | 3 |
Other Comprehensive Income (Loss), Foreign Currency Translation Reclassification Adjustment Realized upon Sale or Liquidation, Tax | 0 | 0 | 0 |
Market Value Adjustment And Reclassification For Securities And Derivatives Tax Amount | 1 | (2) | 1 |
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment Realized upon Sale or Liquidation, Net of Tax | 0 | 6 | (7) |
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax | 14 | 2 | 0 |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI for Write-down of Securities, before Tax | 62 | 0 | 0 |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI for Write-down of Securities, Tax | (10) | 0 | 0 |
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI for Write-down of Securities, Net of Tax | 52 | 0 | 0 |
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Net of Tax | (3) | 5 | (2) |
Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, before Tax | 17 | 2 | 0 |
Other Comprehensive Income (Loss), Available-for-sale Securities, Tax | (3) | 0 | 0 |
Distribution Revenue [Member] | |||
Market Value Adjustments And Reclassifications For Securities And Derivatives Before Tax | 25 | (23) | 0 |
Market Value Adjustment And Reclassification For Securities And Derivatives Tax Amount | (7) | 8 | 0 |
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Net of Tax | 18 | (15) | 0 |
Advertising Revenue [Member] | |||
Market Value Adjustments And Reclassifications For Securities And Derivatives Before Tax | 2 | (2) | 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 | 2 | (2) | 0 |
Cost of Sales [Member] | |||
Market Value Adjustments And Reclassifications For Securities And Derivatives Before Tax | (27) | (9) | (1) |
Market Value Adjustment And Reclassification For Securities And Derivatives Tax Amount | 7 | 3 | 0 |
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Net of Tax | (20) | (6) | (1) |
Interest Expense [Member] | |||
Market Value Adjustments And Reclassifications For Securities And Derivatives Before Tax | 3 | 3 | 0 |
Market Value Adjustment And Reclassification For Securities And Derivatives Tax Amount | (1) | (1) | 0 |
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Net of Tax | 2 | 2 | 0 |
Net Investment Hedging [Member] | |||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax | (1) | 0 | 0 |
Other Comprehensive Income (Loss), before Reclassifications, before Tax | 3 | 0 | 0 |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, 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 ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Beginning balance | $ (633) | $ (368) | $ 4 |
Other comprehensive (loss) income before reclassifications | (194) | (242) | (399) |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 65 | 15 | (13) |
Other Comprehensive Income (Loss), Net Of Tax Including Portion Attributable To Redeemable | (129) | (227) | (412) |
Purchase of redeemable noncontrolling interest | 0 | 5 | |
Other comprehensive loss (income) attributable to redeemable noncontrolling interests | 23 | 40 | |
Ending balance | (762) | (633) | (368) |
Currency Translation Adjustments [Member] | |||
Beginning balance | (606) | (367) | (8) |
Other comprehensive (loss) income before reclassifications | (191) | (230) | (392) |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 0 | 29 | (7) |
Other Comprehensive Income (Loss), Net Of Tax Including Portion Attributable To Redeemable | (191) | (201) | (399) |
Purchase of redeemable noncontrolling interest | (61) | ||
Other comprehensive loss (income) attributable to redeemable noncontrolling interests | 23 | 40 | |
Ending balance | (797) | (606) | (367) |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | |||
Beginning balance | (27) | (2) | 0 |
Other comprehensive (loss) income before reclassifications | (28) | (27) | 1 |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 66 | 2 | (3) |
Other Comprehensive Income (Loss), Net Of Tax Including Portion Attributable To Redeemable | 38 | (25) | (2) |
Purchase of redeemable noncontrolling interest | 0 | ||
Other comprehensive loss (income) attributable to redeemable noncontrolling interests | 0 | 0 | |
Ending balance | 11 | (27) | (2) |
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member] | |||
Beginning balance | 0 | 1 | 12 |
Other comprehensive (loss) income before reclassifications | 25 | 15 | (8) |
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | (1) | (16) | (3) |
Other Comprehensive Income (Loss), Net Of Tax Including Portion Attributable To Redeemable | 24 | (1) | (11) |
Purchase of redeemable noncontrolling interest | 0 | ||
Other comprehensive loss (income) attributable to redeemable noncontrolling interests | 0 | 0 | |
Ending balance | $ 24 | 0 | 1 |
Accumulated Other Comprehensive (Loss)/Income [Member] | |||
Purchase of redeemable noncontrolling interest | (61) | 0 | |
Additional Paid-In Capital [Member] | |||
Purchase of redeemable noncontrolling interest | $ 61 | $ 5 |
Equity-Based Compensation (Narr
Equity-Based Compensation (Narrative) (Details) $ / shares in Units, shares in Thousands, $ in Millions | 12 Months Ended | ||
Dec. 31, 2016USD ($)yr$ / sharesshares | Dec. 31, 2015USD ($)$ / sharesshares | Dec. 31, 2014USD ($)$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | shares | 120,000 | ||
Future grant under the incentive plans | shares | 99,000 | ||
Total liabilities for cash-settled awards | $ 83 | $ 54 | |
Current portion of equity-based compensation liabilities | $ 31 | $ 5 | |
Performance target for measurement period, years | yr | 3 | ||
PRSU vesting range minimum percentage | 0.00% | ||
PRSU vesting range maximum percentage | 100.00% | ||
Share-based performance target, percentage | 80.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 7.09 | $ 8.44 | $ 19.73 |
Cash proceeds from equity-based plans, net | $ 46 | $ 16 | $ 35 |
Weighted-average fair value Of SARs outstanding | $ / shares | $ 1.79 | $ 1.15 | |
Cash payments made to settle vested SARs and Unit Awards | $ (5) | $ (11) | $ (29) |
Percentage of common stock closing price for DESPP purchase price | 85.00% | ||
Shares issued under DESPP | shares | 191 | 208 | 191 |
Proceeds from Issuance of Shares under Incentive and Share-based Compensation Plans, Excluding Stock Options | $ 4 | $ 5 | $ 6 |
Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Settled in period (unit awards) | shares | 400 | ||
Settled, Weighted-Average Grant Price | $ / shares | $ 33.41 | ||
Unrecognized compensation cost | $ 43 | ||
Weighted average period of time, in years, compensation expense related to units is expected to be recognized | 2 years 292 days | ||
Performance Shares [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Settled in period (unit awards) | shares | 600 | ||
Settled, Weighted-Average Grant Price | $ / shares | $ 22.32 | ||
Unrecognized compensation cost | $ 20 | ||
Weighted average period of time, in years, compensation expense related to units is expected to be recognized | 256 days | ||
Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Unrecognized compensation cost | $ 29 | ||
Weighted average period of time, in years, compensation expense related to units is expected to be recognized | 2 years 37 days | ||
Exercised, Aggregate Intrinsic Value | $ 42 | $ 28 | $ 63 |
Unit Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Settled in period (unit awards) | shares | 1,200 | ||
Settled, Weighted-Average Grant Price | $ / shares | $ 20.59 | ||
Cash payments made to settle vested SARs and Unit Awards | $ (14) | ||
SARs [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Settled in period (unit awards) | shares | 900 | ||
Settled, Weighted-Average Grant Price | $ / shares | $ 20.67 | ||
Unrecognized compensation cost | $ 8 | ||
Weighted average period of time, in years, compensation expense related to units is expected to be recognized | 292 days | ||
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 | shares | 9,000 | ||
Minimum [Member] | Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | ||
Minimum [Member] | Performance Shares [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||
Minimum [Member] | Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 7 years | ||
Maximum [Member] | Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||
Maximum [Member] | Performance Shares [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||
Maximum [Member] | Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years |
Equity-Based Compensation (Equi
Equity-Based Compensation (Equity-Based Compensation Expense) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total equity-based compensation expense | $ 69 | $ 35 | $ 78 |
Tax benefit recognized | 25 | 13 | 27 |
SARs [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total equity-based compensation expense | 4 | (14) | (11) |
Unit Awards [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total equity-based compensation expense | 0 | (2) | 5 |
Stock Options [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total equity-based compensation expense | 13 | 17 | 23 |
Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total equity-based compensation expense | 17 | 17 | 14 |
Performance Shares [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total equity-based compensation expense | 34 | 16 | 46 |
Employee Stock Purchase Plan [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Total equity-based compensation expense | $ 1 | $ 1 | $ 1 |
Equity-Based Compensation (Stoc
Equity-Based Compensation (Stock Options) (Details) - Stock Options [Member] - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Outstanding as of beginning of period | 15.3 | ||
Granted, Stock Options | 3 | ||
Exercised, Stock Options | (3.4) | ||
Forfeited, Stock Options | (1.2) | ||
Outstanding as of end of period | 13.7 | 15.3 | |
Vested and expected to vest as of beginning of period | 13.2 | ||
Exercisable as of end of period | 8 | ||
Outstanding as of beginning of period, Weighted-Average Grant Price | $ 24.01 | ||
Granted, Weighted-Average Grant Price | 25.71 | ||
Exercised, Weighted-Average Grant Price | 13.95 | ||
Outstanding as of end of period, Weighted-Average Grant Price | 26.05 | $ 24.01 | |
Vested and expected to vest, Weighted Average Exercise Price | 25.94 | ||
Exercisable as of end of period, Weighted-Average Grant Price | $ 23.21 | ||
Outstanding as of end of period, Weighted-Average Remaining Contractual Term (years) | 3 years 183 days | ||
Vested and expected to vest as of end of period, Weighted-Average Remaining Contractual Term (years) | 3 years 219 days | ||
Exercisable as of end of period, Weighted-Average Remaining Contractual Term (years) | 2 years 73 days | ||
Exercised, Aggregate Intrinsic Value | $ 42 | $ 28 | $ 63 |
Outstanding as of end of period, Aggregate Intrinsic Value | 59 | ||
Vested and expected to vest as of end of period, Aggregate Intrinsic Value | 59 | ||
Exercisable as of end of period, Aggregate Intrinsic Value | $ 54 | ||
Forfeited, Weighted-Average Grant Price | $ 33.67 |
Equity-Based Compensation (Weig
Equity-Based Compensation (Weighted-Average Assumptions Used to Determine Fair Value, Stock Options) (Details) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
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 | 1.26% | 1.54% | 1.53% |
Expected term (years) | 5 years | 5 years | 4 years 354 days |
Expected volatility | 28.74% | 26.78% | 26.20% |
Dividend yield | 0.00% | 0.00% | 0.00% |
Equity-Based Compensation (RSUs
Equity-Based Compensation (RSUs) (Details) - Restricted Stock Units (RSUs) [Member] $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended |
Dec. 31, 2016USD ($)$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Outstanding, Beginning of Period | shares | 2 |
Number of awards granted in period | shares | 1.4 |
Converted in period | shares | (0.4) |
Forfeited in Period | shares | (0.4) |
Outstanding, End of Period | shares | 2.6 |
Vested and expected to vest as of end of period | shares | 2.4 |
Outstanding as of beginning of period, Weighted-Average Grant Price | $ / shares | $ 34.62 |
Outstanding as of end of period, Weighted-average grant price | $ / shares | 30.03 |
Granted, Weighted-Average Grant Price | $ / shares | 25.22 |
Settled, Weighted-Average Grant Price | $ / shares | 33.41 |
Forfeited, Weighted-Average Grant Price | $ / shares | $ 32.45 |
Vested and expected to vest as of end of period, Weighted-Average Remaining Contractual Term (years) | 2 years 256 days |
Vested and expected to vest as of end of period, Weighted-Average Grant Price | $ / shares | $ 30.17 |
Outstanding as of end of period, Weighted-Average Remaining Contractual Term (years) | 2 years 234 days |
Converted, Aggregate Fair Value | $ | $ 10 |
Outstanding as of end of period, Aggregate Fair Value | $ | 73 |
Vested and expected to vest as of end of period, Aggregate Fair Value | $ | $ 64 |
Equity-Based Compensation (PRSU
Equity-Based Compensation (PRSUs) (Details) $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended |
Dec. 31, 2016USD ($)$ / sharesshares | |
Performance Shares [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Outstanding, Beginning of Period | shares | 4.2 |
Outstanding as of beginning of period, Weighted-Average Grant Price | $ / shares | $ 35.07 |
Outstanding as of end of period, Weighted-Average Remaining Contractual Term (years) | 219 days |
Share Based Compensation Arrangement By Share Based Payment Award Other Than Options Unvested Outstanding Aggregate Fair Value | $ | $ 121 |
Number of awards granted in period | shares | 1 |
Granted, Weighted-Average Grant Price | $ / shares | $ 25.15 |
Converted in period | shares | (0.6) |
Settled, Weighted-Average Grant Price | $ / shares | $ 22.32 |
Converted, Aggregate Fair Value | $ | $ 15 |
Outstanding, End of Period | shares | 4.5 |
Outstanding as of end of period, Weighted-average grant price | $ / shares | $ 34.44 |
Vested and expected to vest as of end of period | shares | 4.4 |
Vested and expected to vest as of end of period, Weighted-Average Grant Price | $ / shares | $ 34.56 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 219 days |
Vested and expected to vest as of end of period, Aggregate Fair Value | $ | $ 119 |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | shares | 0.9 |
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested And Expected To Vest In Period, Exercisable Weighted Average Grant Date Fair Value | $ / shares | $ 30.23 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value | $ | $ 23 |
Forfeited in Period | shares | (0.1) |
Forfeited, Weighted-Average Grant Price | $ / shares | $ 36.05 |
SARs [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Outstanding, Beginning of Period | shares | 10.4 |
Outstanding as of beginning of period, Weighted-Average Grant Price | $ / shares | $ 37.38 |
Outstanding as of end of period, Weighted-Average Remaining Contractual Term (years) | 354 days |
Number of awards granted in period | shares | 2.4 |
Granted, Weighted-Average Grant Price | $ / shares | $ 25.79 |
Converted in period | shares | (0.9) |
Settled, Weighted-Average Grant Price | $ / shares | $ 20.67 |
Outstanding, End of Period | shares | 8.6 |
Outstanding as of end of period, Weighted-average grant price | $ / shares | $ 35.29 |
Vested and expected to vest as of end of period | shares | 8.6 |
Vested and expected to vest as of end of period, Weighted-Average Grant Price | $ / shares | $ 35.30 |
Vested and expected to vest as of end of period, Weighted-Average Remaining Contractual Term (years) | 350 days |
Vested and expected to vest as of end of period, Aggregate Fair Value | $ | $ 3 |
Forfeited in Period | shares | (3.3) |
Forfeited, Weighted-Average Grant Price | $ / shares | $ 38.65 |
Equity-Based Compensation (SARs
Equity-Based Compensation (SARs) (Details) - SARs [Member] $ / shares in Units, shares in Millions, $ in Millions | 12 Months Ended |
Dec. 31, 2016USD ($)$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Outstanding, Beginning of Period | shares | 10.4 |
Number of awards granted in period | shares | 2.4 |
Settled in period | shares | (0.9) |
Forfeited in Period | shares | (3.3) |
Outstanding, End of Period | shares | 8.6 |
Vested and expected to vest as of end of period | shares | 8.6 |
Outstanding as of beginning of period, Weighted-Average Grant Price | $ / shares | $ 37.38 |
Granted, Weighted-Average Grant Price | $ / shares | 25.79 |
Settled, Weighted-Average Grant Price | $ / shares | 20.67 |
Forfeited, Weighted-Average Grant Price | $ / shares | 38.65 |
Outstanding as of end of period, Weighted-average grant price | $ / shares | 35.29 |
Vested and expected to vest as of end of period, Weighted-Average Grant Price | $ / shares | $ 35.30 |
Outstanding as of end of period, Weighted-Average Remaining Contractual Term (years) | 354 days |
Vested and expected to vest as of end of period, Weighted-Average Remaining Contractual Term (years) | 350 days |
Settled, Aggregate Intrinsic Value | $ | $ 5 |
Outstanding as of end of period, Aggregate Intrinsic Value | $ | 3 |
Vested and expected to vest as of end of period, Aggregate Fair Value | $ | $ 3 |
Equity-Based Compensation (W104
Equity-Based Compensation (Weighted-Average Assumptions Used to Determine Fair Value, SARs) (Details) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
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 | 0.95% | 0.83% | 0.59% |
Expected term (years) | 324 days | 1 year 7 days | 1 year 110 days |
Expected volatility | 29.46% | 31.59% | 27.72% |
Dividend yield | 0.00% | 0.00% | 0.00% |
Retirement Savings Plans (Detai
Retirement Savings Plans (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Compensation and Retirement Disclosure [Abstract] | |||
Employer matching contributions | $ 29 | $ 36 | $ 33 |
Maximum percentage of compensation to SRP | 50.00% |
Restructuring And Other Char106
Restructuring And Other Charges (Restructuring And Other Charges, By Reporting Segment) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Restructuring Cost and Reserve [Line Items] | |||
Total restructuring and other charges | $ 58 | $ 50 | $ 90 |
U.S. Networks [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Total restructuring and other charges | 15 | 33 | 61 |
International Networks [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Total restructuring and other charges | 26 | 14 | 24 |
Education And Other [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Total restructuring and other charges | 3 | 2 | 3 |
Corporate [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Total restructuring and other charges | $ 14 | $ 1 | $ 2 |
Restructuring And Other Char107
Restructuring And Other Charges (Total Restructuring And Other Charges) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Restructuring and Related Activities [Abstract] | |||
Restructuring and other charges | $ 55 | $ 29 | $ 35 |
ContentImpairmentsInRestructuringAndOtherCharges | 3 | 21 | 55 |
Total restructuring and other charges | $ 58 | $ 50 | $ 90 |
Restructuring And Other Char108
Restructuring And Other Charges (Restructuring And Other Liabilities) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and other liabilities, Beginning Balance | $ 23 | $ 19 | $ 7 |
Restructuring and other charges, net accruals | 55 | 29 | 35 |
Restructuring and other charges, cash paid | (39) | (25) | (23) |
Restructuring and other liabilities, Beginning Balance, Ending Balance | 39 | 23 | 19 |
Contract Termination Costs [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and other liabilities, Beginning Balance | 2 | 4 | 2 |
Restructuring and other charges, net accruals | 3 | 3 | 3 |
Restructuring and other charges, cash paid | (2) | (5) | (1) |
Restructuring and other liabilities, Beginning Balance, Ending Balance | 3 | 2 | 4 |
Employee Relocation/Terminations [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and other liabilities, Beginning Balance | 21 | 15 | 5 |
Restructuring and other charges, net accruals | 52 | 26 | 32 |
Restructuring and other charges, cash paid | (37) | (20) | (22) |
Restructuring and other liabilities, Beginning Balance, Ending Balance | $ 36 | $ 21 | $ 15 |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Deferred tax assets, net, noncurrent | $ 9 | $ 18 | |
Undistributed foreign earnings | $ 659 | ||
Federal statutory tax rate | 35.00% | 35.00% | 35.00% |
Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $ 117 | $ 173 | $ 176 |
Unrecognized tax benefits related to tax positions could decrease in next twelve months | 16 | ||
Accrued interest and penalties on unrecognized tax benefits | $ 11 | $ 20 | $ 17 |
Income Taxes (Schedule Of Compo
Income Taxes (Schedule Of Components Of Income From Continuing Operations Before Income Taxes) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||
Domestic | $ 1,414 | $ 1,281 | $ 1,251 |
Foreign | 257 | 278 | 496 |
Income before income taxes | $ 1,671 | $ 1,559 | $ 1,747 |
Income Taxes (Schedule Of Co111
Income Taxes (Schedule Of Components Of Provision For Income Taxes) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||
Federal current | $ 384 | $ 306 | $ 529 |
State and local taxes, current | (56) | 57 | 64 |
Foreign current | 152 | 146 | 198 |
Current income tax expense | 480 | 509 | 791 |
Federal deferred | 45 | 59 | (112) |
State and local taxes deferred | 0 | (10) | (16) |
Foreign deferred | (72) | (47) | (53) |
Deferred income tax expense (benefit) | (27) | 2 | (181) |
Income taxes | $ 453 | $ 511 | $ 610 |
Income Taxes (Schedule Of Effec
Income Taxes (Schedule Of Effective Tax Rate Reconciliation) (Details) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
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%) | 2.00% | 2.00% |
Effect of foreign operations | (1.00%) | 1.00% | 2.00% |
Domestic production activity deductions | (4.00%) | (3.00%) | (3.00%) |
Change in uncertain tax positions | 0.00% | (1.00%) | (1.00%) |
Other, net | 0.00% | (1.00%) | 0.00% |
Effective income tax rate | 27.00% | 33.00% | 35.00% |
Effective Income Tax Reconciliation, Renewable Energy Investments Tax Credits, Percent | (1.00%) | 0.00% | 0.00% |
Income Taxes (Components Of Def
Income Taxes (Components Of Deferred Tax Assets And Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Income Tax Disclosure [Abstract] | ||
Accounts receivable | $ 2 | $ 2 |
Tax attribute carry-forward | 67 | 46 |
Deferred Tax Assets Derivative Instruments And Unrealized Currency Losses | 0 | (5) |
Accrued liabilities and other | 174 | 223 |
Total deferred income tax assets | 243 | 266 |
Valuation allowance | (25) | (19) |
Net deferred income tax assets | 218 | 247 |
Intangible assets | (384) | (460) |
Content rights | (166) | (143) |
Equity method investments | (76) | (88) |
Notes receivable | (7) | (8) |
Other | (32) | (18) |
Total deferred income tax liabilities | (665) | (717) |
Deferred Tax Liabilities, Net | $ (447) | $ (470) |
Income Taxes (Schedule Of Defer
Income Taxes (Schedule Of Deferred Income Tax Assets And Liabilities In Statement Of Financial Position) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Income Tax Disclosure [Abstract] | ||
Deferred tax assets, net, noncurrent | $ 9 | $ 18 |
Deferred Tax Assets, Net | 106 | 86 |
Noncurrent deferred income tax liabilities | 553 | 556 |
Deferred Tax Liabilities, Net | $ (447) | $ (470) |
Income Taxes (Schedule of Opera
Income Taxes (Schedule of Operating Loss Carryforwards) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | ||
Operating Loss Carryforwards [Line Items] | |||
Valuation Allowance, Amount | $ (25) | $ (19) | |
Federal [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Operating Loss Carryforwards | [1] | 0 | |
State [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Operating Loss Carryforwards | 724 | ||
Deferred Tax Assets, Tax Deferred Expense, Other | 10 | ||
Valuation Allowance, Amount | (7) | ||
Foreign [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Operating Loss Carryforwards | 169 | ||
Deferred Tax Assets, Tax Deferred Expense, Other | 37 | ||
Valuation Allowance, Amount | $ (18) | ||
Minimum [Member] | State [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Operating Loss Carryforwards, Expiration Dates | Jan. 1, 2017 | ||
Minimum [Member] | Foreign [Member] | |||
Operating Loss Carryforwards [Line Items] | |||
Operating Loss Carryforwards, Expiration Dates | Jan. 1, 2018 | ||
[1] | {F|ahBzfndlYmZpbGluZ3MtaHJkcmoLEgZYTUxEb2MiXlhCUkxEb2NHZW5JbmZvOjk2ZmYzZDc2MTIxZDRhODlhZTJlODNmNDM3Mjk2NjFifFRleHRTZWxlY3Rpb246QUQ3MEYwOTdDNDE3QzY3NzNFNEM0QUI1ODJDNzM4RUEM} |
Income Taxes (Schedule Of Unrec
Income Taxes (Schedule Of Unrecognized Tax Benefits Reconciliation) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Income Tax Disclosure [Abstract] | |||
Beginning balance, unrecognized tax benefits | $ 173 | $ 176 | $ 185 |
Additions based on tax positions related to the current year | 13 | 30 | 40 |
Additions for tax positions of prior years | 19 | 17 | 82 |
Unrecognized Tax Benefits, Increases Resulting from Acquisition | 0 | 3 | 6 |
Reductions for tax positions of prior years | (60) | (21) | (129) |
Settlements | (16) | (16) | 0 |
Reductions as result of statute lapse | (9) | (13) | (8) |
Unrecognized Tax Benefits Additions For Foreign Currency Exchange Rates | (3) | (3) | 0 |
Ending balance, unrecognized tax benefits | $ 117 | $ 173 | $ 176 |
Earnings Per Share (Narrative)
Earnings Per Share (Narrative) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Series C Convertible Preferred Stock [Member] | |||
Net income available to Discovery Communications, Inc. stockholders, Diluted | $ 126 | $ 123 | $ 143 |
Earnings Per Share (Reconciliat
Earnings Per Share (Reconciliation of Income) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Net Income available to Discovery Communications, Inc. stockholders | $ 916 | $ 810 | $ 902 |
Net income attributable to noncontrolling interests | (1) | (1) | (2) |
Net income | 1,218 | 1,048 | 1,137 |
Undistributed Earnings (Loss) Allocated to Participating Securities, Basic | (278) | (224) | (236) |
Net income attributable to noncontrolling interests | (1) | (1) | (2) |
Net (income) loss attributable to redeemable noncontrolling interests | (23) | (13) | 4 |
Redeemable noncontrolling interest adjustments to redemption value | 0 | 0 | (1) |
Allocation of undistributed income to Series A convertible preferred stockholders | 278 | 224 | 236 |
Series A, B and C Common Stock [Member] | |||
Net Income available to Discovery Communications, Inc. stockholders | 789 | 686 | 758 |
Net income available to Discovery Communications, Inc. stockholders, Diluted | 1,194 | 1,034 | 1,138 |
Series C Convertible Preferred Stock [Member] | |||
Net Income available to Discovery Communications, Inc. stockholders | 127 | 124 | 144 |
Net income available to Discovery Communications, Inc. stockholders, Diluted | $ 126 | $ 123 | $ 143 |
Earnings Per Share (Schedule Of
Earnings Per Share (Schedule Of Weighted Average Basic And Diluted Shares Outstanding) (Details) - shares shares in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Series A, B and C Common Stock [Member] | |||
Basic (in shares) | 401 | 432 | 454 |
Weighted average impact of assumed preferred stock conversion | 206 | 219 | 227 |
Weighted average dilutive effect of equity awards | 3 | 5 | 6 |
Weighted average number of shares outstanding, diluted (in shares) | 610 | 656 | 687 |
Series C Convertible Preferred Stock [Member] | |||
Basic (in shares) | 32 | 39 | 43 |
Weighted average number of shares outstanding, diluted (in shares) | 32 | 39 | 43 |
Earnings Per Share (Schedule120
Earnings Per Share (Schedule of Basic and Dilutive Earnings Per Share) (Details) - $ / shares | 3 Months Ended | 12 Months Ended | |||||||||||||||||
Dec. 31, 2016 | [1],[2] | Sep. 30, 2016 | [1],[2] | Jun. 30, 2016 | [1],[2] | Mar. 31, 2016 | [1],[2] | Dec. 31, 2015 | [1],[2] | Sep. 30, 2015 | [1],[2] | Jun. 30, 2015 | [1],[2] | Mar. 31, 2015 | [1],[2] | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Series A, B and C Common Stock [Member] | |||||||||||||||||||
Net income per share (in dollars per share) | $ 0.52 | $ 0.37 | $ 0.66 | $ 0.42 | $ 0.34 | $ 0.43 | $ 0.44 | $ 0.38 | $ 1.97 | $ 1.59 | $ 1.67 | ||||||||
Diluted (in dollars per share) | $ 0.52 | $ 0.36 | $ 0.66 | $ 0.42 | $ 0.34 | $ 0.43 | $ 0.44 | $ 0.37 | 1.96 | 1.58 | 1.66 | ||||||||
Series C Convertible Preferred Stock [Member] | |||||||||||||||||||
Net income per share (in dollars per share) | 3.94 | 3.18 | 3.34 | ||||||||||||||||
Diluted (in dollars per share) | $ 3.92 | $ 3.16 | $ 3.32 | ||||||||||||||||
[1] | (b) 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. On March 31, 2015, the Company completed its acquisition of an additional 31% interest in Eurosport France upon resolution of certain regulatory matters. On June 30, 2015, the Company disposed of its radio operations in SBS Nordic. (See Note 3.) | ||||||||||||||||||
[2] | ) |
Earnings Per Share (Schedule121
Earnings Per Share (Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share) (Details) - shares shares in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Prepaidcommonstockrepurchaseinitialshareamount | 2 | 0 | 0 |
Stock Options and RSU [Member] [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Securities excluded from computation of earnings per share, amount | 8 | 6 | 4 |
Performance Shares [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Securities excluded from computation of earnings per share, amount | 4 | 3 | 3 |
Supplemental Disclosures (Valua
Supplemental Disclosures (Valuation And Qualifying Accounts) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Allowance For Doubtful Accounts [Member] | |||
Beginning of Year | $ 40 | $ 39 | $ 16 |
Additions | 13 | 8 | 28 |
Write-offs | (6) | (7) | (5) |
Utilization | 0 | 0 | 0 |
End of Year | 47 | 40 | 39 |
Deferred Tax Valuation Allowance [Member] | |||
Beginning of Year | 19 | 13 | 18 |
Additions | 9 | 6 | 1 |
Write-offs | (3) | 0 | (5) |
Utilization | 0 | 0 | (1) |
End of Year | $ 25 | $ 19 | $ 13 |
Supplemental Disclosures (Sched
Supplemental Disclosures (Schedule Of Accrued Liabilities) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Disclosure Text Block Supplement [Abstract] | ||
Accrued payroll and related benefits | $ 486 | $ 449 |
Program Rights Obligations, Current | 173 | 217 |
Accrued Interest | 67 | 61 |
Accrued Income Taxes | 34 | 30 |
Current portion of equity-based compensation liabilities | 31 | 5 |
Other accrued liabilities | 284 | 226 |
Total accrued liabilities | $ 1,075 | $ 988 |
Supplemental Disclosures (Sc124
Supplemental Disclosures (Schedule Of Other (Expense) Income, Net) (Details) - USD ($) $ in Millions | 2 Months Ended | 12 Months Ended | 14 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2016 | |
Disclosure Text Block Supplement [Abstract] | |||||
Foreign currency transaction gain (loss), before tax | $ 75 | $ (103) | $ (22) | ||
Remeasurement gain on previously held equity interests | 0 | 2 | 29 | ||
Other than Temporary Impairment Losses, Investments | (62) | 0 | 0 | ||
Other Nonoperating Income (Expense) Other Net Misc | 3 | (1) | (17) | ||
Other, net | (59) | (1) | (17) | ||
Other (expense) income, net | 4 | (97) | (9) | ||
Derivative, Gain (Loss) on Derivative, Net | (3) | (5) | 0 | ||
Other Expense [Member] | |||||
Derivative, Gain (Loss) on Derivative, Net | (12) | 5 | 1 | ||
Lionsgate [Member] | |||||
Disclosure Text Block Supplement [Abstract] | |||||
Other than Temporary Impairment Losses, Investments | $ 0 | $ (62) | $ 0 | $ 0 | $ (62) |
Supplemental Disclosures (Sc125
Supplemental Disclosures (Schedule of Equity-Based Compensation Financing Activities) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Supplemental Cash Flow Elements [Abstract] | |||
Tax settlements associated with equity-based plans | $ (11) | $ (27) | $ (27) |
Proceeds from Issuance or Sale of Equity | 50 | 21 | 41 |
Excess tax benefits from stock-based compensation | 7 | 12 | 30 |
Equity-based plan proceeds, net | $ 46 | $ 6 | $ 44 |
Supplemental Disclosures (Suppl
Supplemental Disclosures (Supplemental Cash Flow Information) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Supplemental Cash Flow Information [Abstract] | |||
Income Taxes Paid, Net | $ 527 | $ 653 | $ 686 |
Interest Paid | 343 | 312 | 315 |
Fair value of noncash investment | 82 | 0 | 0 |
Business Combination, Consideration Transferred, Other | 32 | 0 | 0 |
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability | 0 | 13 | 0 |
Capital Expenditures Incurred but Not yet Paid | 42 | 12 | 13 |
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Asset | 0 | 6 | 0 |
Capital Lease Obligations Incurred | $ 37 | $ 5 | $ 43 |
Related Party Transactions (Nar
Related Party Transactions (Narrative) (Details) - Board of Directors Chairman [Member] | Dec. 31, 2016 |
Liberty Global [Member] | |
Related Party Transaction [Line Items] | |
Aggregate equity voting power percentage | 24.00% |
Liberty Broadband [Member] | |
Related Party Transaction [Line Items] | |
Aggregate equity voting power percentage | 46.00% |
Related Party Transactions (Sch
Related Party Transactions (Schedule of Related Party Transactions, Revenue) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Related Party Transaction [Line Items] | |||
Related Party Transaction, Revenues from Transactions with Related Party | $ 548 | $ 268 | $ 295 |
Related Party Transaction, Expenses from Transactions with Related Party | (102) | (67) | (37) |
Liberty Group [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction, Revenues from Transactions with Related Party | 387 | 171 | 157 |
Equity Method Investments [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction, Revenues from Transactions with Related Party | 129 | 62 | 104 |
Interest and Other Income | 17 | 23 | 33 |
Other Related Parties [Member] | |||
Related Party Transaction [Line Items] | |||
Related Party Transaction, Revenues from Transactions with Related Party | $ 32 | $ 35 | $ 34 |
Related Party Transactions (129
Related Party Transactions (Schedule of Related Party Transactions Receivables) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Related Party Transaction [Line Items] | ||
Due from Related Parties, Current | $ 109 | $ 37 |
OWN Joint Venture [Member] | ||
Related Party Transaction [Line Items] | ||
Advances to and note receivable from OWN | $ 311 | $ 384 |
Commitments And Contingencie130
Commitments And Contingencies (Narrative) (Details) € in Millions | Oct. 01, 2015USD ($) | Oct. 01, 2015EUR (€) | Mar. 31, 2015 | Sep. 23, 2014 | Sep. 30, 2015USD ($) | Dec. 31, 2022 | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Sep. 30, 2015EUR (€) | May 30, 2014USD ($) | Dec. 31, 2013USD ($) |
Commitments and Contingencies [Line Items] | ||||||||||||
Put right obligations | $ 0 | $ 0 | ||||||||||
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests | $ 243,000,000 | 241,000,000 | $ 747,000,000 | $ 36,000,000 | ||||||||
Derivative, Term of Contract | 1 year | |||||||||||
RedeemableNoncontrollingInterestDecreaseFromRedemptions | $ 551,000,000 | $ 0 | 551,000,000 | 6,000,000 | ||||||||
Purchase of redeemable noncontrolling interests | 0 | 548,000,000 | $ 1,000,000 | |||||||||
Material amounts for indemnifications or other contingencies | 0 | 0 | ||||||||||
Loss Contingency Accrual, at Carrying Value | 0 | $ 0 | ||||||||||
Eurosport [Member] | ||||||||||||
Commitments and Contingencies [Line Items] | ||||||||||||
Increase or Decrease in ownership, percentage | 49.00% | 49.00% | ||||||||||
MandatorilyRedeemableNoncontrollinginterestreclassifiedtocurrentliabilities | € | € 491 | |||||||||||
Purchase of redeemable noncontrolling interests | $ 548,000,000 | € 491 | ||||||||||
Discovery Family [Member] | ||||||||||||
Commitments and Contingencies [Line Items] | ||||||||||||
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests | 216,000,000 | |||||||||||
Increase or Decrease in ownership, percentage | 10.00% | |||||||||||
Discovery Japan [Member] | ||||||||||||
Commitments and Contingencies [Line Items] | ||||||||||||
Temporary Equity, Carrying Amount, Including Portion Attributable to Noncontrolling Interests | $ 27,000,000 | |||||||||||
Eurosport International [Member] | ||||||||||||
Commitments and Contingencies [Line Items] | ||||||||||||
TF1 put right | $ 27,000,000 | |||||||||||
Increase or Decrease in ownership, percentage | 31.00% | |||||||||||
Scenario, Forecast [Member] | Discovery Family [Member] | ||||||||||||
Commitments and Contingencies [Line Items] | ||||||||||||
Derivative, Term of Contract | 1 year |
Commitments And Contingencie131
Commitments And Contingencies (Schedule Of Significant Contractual Commitments) (Details) $ in Millions | Dec. 31, 2016USD ($) |
2,017 | $ 1,582 |
2,018 | 855 |
2,019 | 696 |
2,020 | 819 |
2,021 | 314 |
Thereafter | 1,028 |
Total minimum payments | 5,294 |
Less amounts representing interest | (33) |
Total | 5,261 |
Operating Lease [Member] | |
2,017 | 56 |
2,018 | 50 |
2,019 | 37 |
2,020 | 22 |
2,021 | 12 |
Thereafter | 21 |
Operating Leases, Future Minimum Payments Due | 198 |
Less amounts representing interest | 0 |
Total | 198 |
Capital Lease [Member] | |
2,017 | 41 |
2,018 | 24 |
2,019 | 22 |
2,020 | 19 |
2,021 | 17 |
Thereafter | 61 |
Capital Leases, Future Minimum Payments Due | 184 |
Less amounts representing interest | (33) |
Total | 151 |
Content [Member] | |
2,017 | 939 |
2,018 | 524 |
2,019 | 438 |
2,020 | 628 |
2,021 | 244 |
Thereafter | 825 |
Total minimum payments | 3,598 |
Less amounts representing interest | 0 |
Total | 3,598 |
Other Credit Derivatives [Member] | |
2,017 | 546 |
2,018 | 257 |
2,019 | 199 |
2,020 | 150 |
2,021 | 41 |
Thereafter | 121 |
Total minimum payments | 1,314 |
Less amounts representing interest | 0 |
Total | $ 1,314 |
Reportable Segments (Schedule O
Reportable Segments (Schedule Of Revenues By Segment) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||||||||||
Dec. 31, 2016 | [1],[2] | Sep. 30, 2016 | [1],[2] | Jun. 30, 2016 | [1],[2] | Mar. 31, 2016 | [1],[2] | Dec. 31, 2015 | [1],[2] | Sep. 30, 2015 | [1],[2] | Jun. 30, 2015 | [1],[2] | Mar. 31, 2015 | [1],[2] | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | |||||||||||||||||||
Total revenues | $ 1,672 | $ 1,556 | $ 1,708 | $ 1,561 | $ 1,646 | $ 1,557 | $ 1,654 | $ 1,537 | $ 6,497 | $ 6,394 | $ 6,265 | ||||||||
U.S. Networks [Member] | |||||||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||||||
Revenues by Segment | 3,285 | 3,131 | 2,950 | ||||||||||||||||
International Networks [Member] | |||||||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||||||
Revenues by Segment | 3,040 | 3,092 | 3,157 | ||||||||||||||||
Education And Other [Member] | |||||||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||||||
Revenues by Segment | 174 | 173 | 160 | ||||||||||||||||
Corporate And Inter-Segment Eliminations [Member] | |||||||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||||||
Revenues by Segment | $ (2) | $ (2) | $ (2) | ||||||||||||||||
[1] | (b) 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. On March 31, 2015, the Company completed its acquisition of an additional 31% interest in Eurosport France upon resolution of certain regulatory matters. On June 30, 2015, the Company disposed of its radio operations in SBS Nordic. (See Note 3.) | ||||||||||||||||||
[2] | ) |
Reportable Segments (Schedul133
Reportable Segments (Schedule Of Adjusted OIBDA By Segment) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | |||
Total Adjusted OIBDA | $ 2,426 | $ 2,398 | $ 2,491 |
U.S. Networks [Member] | |||
Segment Reporting Information [Line Items] | |||
Total Adjusted OIBDA | 1,922 | 1,774 | 1,680 |
International Networks [Member] | |||
Segment Reporting Information [Line Items] | |||
Total Adjusted OIBDA | 848 | 961 | 1,124 |
Education And Other [Member] | |||
Segment Reporting Information [Line Items] | |||
Total Adjusted OIBDA | (10) | (2) | 6 |
Corporate And Inter-Segment Eliminations [Member] | |||
Segment Reporting Information [Line Items] | |||
Total Adjusted OIBDA | $ (334) | $ (335) | $ (319) |
Reportable Segments (Schedul134
Reportable Segments (Schedule Of Reconciliation Of Adjusted OIDBA To Operating Income) (Details) - USD ($) $ in Millions | May 30, 2014 | Dec. 31, 2016 | [1],[2] | Sep. 30, 2016 | [1],[2] | Jun. 30, 2016 | [1],[2] | Mar. 31, 2016 | [1],[2] | Dec. 31, 2015 | [1],[2] | Sep. 30, 2015 | [1],[2] | Jun. 30, 2015 | [1],[2] | Mar. 31, 2015 | [1],[2] | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Segment Reporting [Abstract] | ||||||||||||||||||||
Net income attributable to Discovery Communications, Inc. | $ 304 | $ 219 | $ 408 | $ 263 | $ 219 | $ 279 | $ 286 | $ 250 | $ 1,194 | $ 1,034 | $ 1,139 | |||||||||
Net (income) loss attributable to redeemable noncontrolling interests | 23 | 13 | (4) | |||||||||||||||||
Net Income (Loss) Attributable to Nonredeemable Noncontrolling Interest | 1 | 1 | 2 | |||||||||||||||||
Income taxes | 453 | 511 | 610 | |||||||||||||||||
Income before income taxes | 1,671 | 1,559 | 1,747 | |||||||||||||||||
Other (expense) income, net | (4) | 97 | 9 | |||||||||||||||||
Income from equity investees, net | 38 | (1) | (23) | |||||||||||||||||
Interest Expense, Debt | 353 | 330 | 328 | |||||||||||||||||
Operating income | $ 525 | $ 458 | $ 586 | $ 489 | $ 441 | $ 505 | $ 557 | $ 482 | 2,058 | 1,985 | 2,061 | |||||||||
Gain (loss) on disposition | $ (31) | (63) | 17 | (31) | ||||||||||||||||
Restructuring and impairment charges | 58 | 50 | 90 | |||||||||||||||||
Depreciation and amortization | 322 | 330 | 329 | |||||||||||||||||
Mark-to-market stock-based compensation | 38 | 0 | 31 | |||||||||||||||||
Amortization of deferred launch incentives | 13 | 16 | 11 | |||||||||||||||||
Total Adjusted OIBDA | $ 2,426 | $ 2,398 | $ 2,491 | |||||||||||||||||
[1] | (b) 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. On March 31, 2015, the Company completed its acquisition of an additional 31% interest in Eurosport France upon resolution of certain regulatory matters. On June 30, 2015, the Company disposed of its radio operations in SBS Nordic. (See Note 3.) | |||||||||||||||||||
[2] | ) |
Reportable Segments (Schedul135
Reportable Segments (Schedule Of Total Assets By Segment) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Segment Reporting Information [Line Items] | ||
Total assets | $ 15,758 | $ 15,864 |
U.S. Networks [Member] | ||
Segment Reporting Information [Line Items] | ||
Total assets | 3,412 | 3,295 |
International Networks [Member] | ||
Segment Reporting Information [Line Items] | ||
Total assets | 4,946 | 5,151 |
Education And Other [Member] | ||
Segment Reporting Information [Line Items] | ||
Total assets | 399 | 520 |
Corporate And Inter-Segment Eliminations [Member] | ||
Segment Reporting Information [Line Items] | ||
Total assets | $ 7,001 | $ 6,898 |
Reportable Segments (Schedul136
Reportable Segments (Schedule Of Content Amortization And Impairment Expense By Segment) (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | |||
Total content amortization and impairment expense | $ 1,773 | $ 1,709 | $ 1,557 |
U.S. Networks [Member] | |||
Segment Reporting Information [Line Items] | |||
Total content amortization and impairment expense | 756 | 771 | 732 |
International Networks [Member] | |||
Segment Reporting Information [Line Items] | |||
Total content amortization and impairment expense | 1,008 | 931 | 826 |
Education And Other [Member] | |||
Segment Reporting Information [Line Items] | |||
Total content amortization and impairment expense | 9 | 7 | 4 |
Corporate And Inter-Segment Eliminations [Member] | |||
Segment Reporting Information [Line Items] | |||
Total content amortization and impairment expense | $ 0 | $ 0 | $ (5) |
Reportable Segments (Schedul137
Reportable Segments (Schedule Of Revenues By Country) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||||||||||
Dec. 31, 2016 | [1],[2] | Sep. 30, 2016 | [1],[2] | Jun. 30, 2016 | [1],[2] | Mar. 31, 2016 | [1],[2] | Dec. 31, 2015 | [1],[2] | Sep. 30, 2015 | [1],[2] | Jun. 30, 2015 | [1],[2] | Mar. 31, 2015 | [1],[2] | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Segment Reporting Information [Line Items] | |||||||||||||||||||
Total revenues | $ 1,672 | $ 1,556 | $ 1,708 | $ 1,561 | $ 1,646 | $ 1,557 | $ 1,654 | $ 1,537 | $ 6,497 | $ 6,394 | $ 6,265 | ||||||||
United States [Member] | |||||||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||||||
Total revenues | 3,411 | 3,261 | 3,081 | ||||||||||||||||
Non-U.S [Member] | |||||||||||||||||||
Segment Reporting Information [Line Items] | |||||||||||||||||||
Total revenues | $ 3,086 | $ 3,133 | $ 3,184 | ||||||||||||||||
[1] | (b) 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. On March 31, 2015, the Company completed its acquisition of an additional 31% interest in Eurosport France upon resolution of certain regulatory matters. On June 30, 2015, the Company disposed of its radio operations in SBS Nordic. (See Note 3.) | ||||||||||||||||||
[2] | ) |
Reportable Segments (Schedul138
Reportable Segments (Schedule Of Property And Equipment By Country) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 |
Segment Reporting Information [Line Items] | ||
Property and equipment, net | $ 482 | $ 488 |
United States [Member] | ||
Segment Reporting Information [Line Items] | ||
Property and equipment, net | 258 | 252 |
United Kingdom | ||
Segment Reporting Information [Line Items] | ||
Property and equipment, net | 107 | 129 |
Other Non U.S. | ||
Segment Reporting Information [Line Items] | ||
Property and equipment, net | $ 117 | $ 107 |
Selected Quarterly Financial139
Selected Quarterly Financial Data (Unaudited) (Details) $ / shares in Units, € in Millions, $ in Millions | Dec. 02, 2016USD ($) | Oct. 01, 2015 | Mar. 31, 2015 | Sep. 23, 2014 | May 30, 2014USD ($) | May 30, 2014EUR (€) | Dec. 31, 2016USD ($)$ / shares | [1],[2] | Sep. 30, 2016USD ($)$ / shares | [1],[2] | Jun. 30, 2016USD ($)$ / shares | [1],[2] | Mar. 31, 2016USD ($)$ / shares | [1],[2] | Dec. 31, 2015USD ($)$ / shares | [1],[2] | Sep. 30, 2015USD ($)$ / shares | [1],[2] | Jun. 30, 2015USD ($)$ / shares | [1],[2] | Mar. 31, 2015USD ($)$ / shares | [1],[2] | Dec. 31, 2016USD ($)$ / shares | Dec. 31, 2015USD ($)$ / shares | Dec. 31, 2014USD ($)$ / shares |
Other-than-temporary impairment of AFS investments | $ 62 | $ 0 | $ 0 | ||||||||||||||||||||||
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | $ 31 | 63 | (17) | 31 | |||||||||||||||||||||
Business Combination, Consideration Transferred, Other | 32 | 0 | 0 | ||||||||||||||||||||||
Total revenues | $ 1,672 | $ 1,556 | $ 1,708 | $ 1,561 | $ 1,646 | $ 1,557 | $ 1,654 | $ 1,537 | 6,497 | 6,394 | 6,265 | ||||||||||||||
Operating income | 525 | 458 | 586 | 489 | 441 | 505 | 557 | 482 | 2,058 | 1,985 | 2,061 | ||||||||||||||
Net income | 309 | 225 | 415 | 269 | 226 | 283 | 289 | 250 | 1,218 | 1,048 | 1,137 | ||||||||||||||
Net income attributable to Discovery Communications, Inc. | $ 304 | $ 219 | $ 408 | $ 263 | $ 219 | $ 279 | $ 286 | $ 250 | 1,194 | 1,034 | 1,139 | ||||||||||||||
Net income | $ 1,218 | $ 1,048 | $ 1,137 | ||||||||||||||||||||||
Series A, B and C Common Stock [Member] | |||||||||||||||||||||||||
Basic earnings per share available to Discovery Communications, Inc. stockholders | |||||||||||||||||||||||||
Net income per share (in dollars per share) | $ / shares | $ 0.52 | $ 0.37 | $ 0.66 | $ 0.42 | $ 0.34 | $ 0.43 | $ 0.44 | $ 0.38 | $ 1.97 | $ 1.59 | $ 1.67 | ||||||||||||||
Diluted earnings per share available to Discovery Communications, Inc. stockholders | |||||||||||||||||||||||||
Diluted (in dollars per share) | $ / shares | $ 0.52 | $ 0.36 | $ 0.66 | $ 0.42 | $ 0.34 | $ 0.43 | $ 0.44 | $ 0.37 | $ 1.96 | $ 1.58 | $ 1.66 | ||||||||||||||
Eurosport International [Member] | |||||||||||||||||||||||||
Business Combination, Consideration Transferred | $ 351 | € 259 | |||||||||||||||||||||||
Increase or Decrease in ownership, percentage | 31.00% | ||||||||||||||||||||||||
Eurosport [Member] | |||||||||||||||||||||||||
Increase or Decrease in ownership, percentage | 49.00% | ||||||||||||||||||||||||
Discovery Family [Member] | |||||||||||||||||||||||||
Increase or Decrease in ownership, percentage | 10.00% | ||||||||||||||||||||||||
GroupNineMediaJV [Member] | |||||||||||||||||||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 39.00% | ||||||||||||||||||||||||
Business Combination, Consideration Transferred | $ 100 | ||||||||||||||||||||||||
Disposal Group, Not Discontinued Operation, Gain (Loss) on Disposal | (50) | ||||||||||||||||||||||||
Business Combination, Consideration Transferred, Other | $ 32 | ||||||||||||||||||||||||
[1] | (b) 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. On March 31, 2015, the Company completed its acquisition of an additional 31% interest in Eurosport France upon resolution of certain regulatory matters. On June 30, 2015, the Company disposed of its radio operations in SBS Nordic. (See Note 3.) | ||||||||||||||||||||||||
[2] | ) |
Condensed Consolidating Fina140
Condensed Consolidating Financial Statements (Narrative) (Details) | Dec. 31, 2016 |
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 Fina141
Condensed Consolidating Financial Statements (Condensed Consolidating Balance Sheet) (Details) - USD ($) $ in Millions | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Cash and cash equivalents | $ 300 | $ 390 | $ 367 | $ 408 |
Receivables, net | 1,495 | 1,479 | ||
Content rights, net | 310 | 313 | ||
Deferred income taxes | 97 | 68 | ||
Prepaid expenses and other current assets | 397 | 346 | ||
Total current assets | 2,599 | 2,596 | ||
Noncurrent content rights, net | 2,089 | 2,030 | ||
Goodwill | 8,040 | 8,164 | 8,236 | |
Intangible assets, net | 1,512 | 1,730 | ||
Equity method investments | 557 | 567 | ||
Other noncurrent assets | 479 | 289 | ||
Total assets | 15,758 | 15,864 | ||
Current portion of debt | 82 | 119 | ||
Total current liabilities | 1,561 | 1,579 | ||
Noncurrent portion of debt | 7,841 | 7,616 | ||
Other noncurrent liabilities | 393 | 421 | ||
Total liabilities | 10,348 | 10,172 | ||
Redeemable noncontrolling interests | 243 | 241 | ||
Total liabilities and equity | 15,758 | 15,864 | ||
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 | (195) | (74) | ||
Total current assets | (195) | (74) | ||
Investment in and advances to subsidiaries | (21,043) | (21,944) | ||
Noncurrent content rights, net | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Intangible assets, net | 0 | 0 | ||
Equity method investments | 0 | 0 | ||
Other noncurrent assets | (20) | (20) | ||
Total assets | (21,258) | (22,038) | ||
Current portion of debt | 0 | 0 | ||
Other current liabilities | 0 | 0 | ||
Intercompany Trade Payables, Net | (195) | (74) | ||
Total current liabilities | (195) | (74) | ||
Noncurrent portion of debt | 0 | 0 | ||
Other noncurrent liabilities | (20) | (20) | ||
Total liabilities | (215) | (94) | ||
Redeemable noncontrolling interests | 0 | 0 | ||
Equity attributable to Discovery Communications, Inc. | (21,043) | (21,944) | ||
Total liabilities and equity | (21,258) | (22,038) | ||
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 | 62 | 47 | ||
Intercompany Trade Receivables, Net | 0 | 0 | ||
Total current assets | 62 | 47 | ||
Investment in and advances to subsidiaries | 5,106 | 5,406 | ||
Noncurrent content rights, net | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Intangible assets, net | 0 | 0 | ||
Equity method investments | 0 | 0 | ||
Other noncurrent assets | 0 | 0 | ||
Total assets | 5,168 | 5,453 | ||
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 | 1 | 2 | ||
Total liabilities | 1 | 2 | ||
Redeemable noncontrolling interests | 0 | 0 | ||
Equity attributable to Discovery Communications, Inc. | 5,167 | 5,451 | ||
Total liabilities and equity | 5,168 | 5,453 | ||
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 | 36 | 26 | ||
Intercompany Trade Receivables, Net | 0 | 0 | ||
Total current assets | 36 | 26 | ||
Investment in and advances to subsidiaries | 5,070 | 5,381 | ||
Noncurrent content rights, net | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Intangible assets, net | 0 | 0 | ||
Equity method investments | 0 | 0 | ||
Other noncurrent assets | 20 | 20 | ||
Total assets | 5,126 | 5,427 | ||
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 | 0 | 0 | ||
Total liabilities | 0 | 0 | ||
Redeemable noncontrolling interests | 0 | 0 | ||
Equity attributable to Discovery Communications, Inc. | 5,126 | 5,427 | ||
Total liabilities and equity | 5,126 | 5,427 | ||
DCL [Member] | ||||
Cash and cash equivalents | 20 | 3 | 8 | 123 |
Receivables, net | 421 | 435 | ||
Content rights, net | 8 | 9 | ||
Deferred income taxes | 42 | 36 | ||
Prepaid expenses and other current assets | 180 | 163 | ||
Intercompany Trade Receivables, Net | 195 | 74 | ||
Total current assets | 866 | 720 | ||
Investment in and advances to subsidiaries | 7,450 | 7,539 | ||
Noncurrent content rights, net | 663 | 601 | ||
Goodwill | 3,769 | 3,769 | ||
Intangible assets, net | 272 | 290 | ||
Equity method investments | 30 | 25 | ||
Other noncurrent assets | 306 | 103 | ||
Total assets | 13,356 | 13,047 | ||
Current portion of debt | 52 | 98 | ||
Other current liabilities | 516 | 470 | ||
Intercompany Trade Payables, Net | 0 | 0 | ||
Total current liabilities | 568 | 568 | ||
Noncurrent portion of debt | 7,315 | 6,724 | ||
Other noncurrent liabilities | 403 | 374 | ||
Total liabilities | 8,286 | 7,666 | ||
Redeemable noncontrolling interests | 0 | 0 | ||
Equity attributable to Discovery Communications, Inc. | 5,070 | 5,381 | ||
Total liabilities and equity | 13,356 | 13,047 | ||
Non-Guarantor Subsidiaries Of DCL [Member] | ||||
Cash and cash equivalents | 280 | 387 | 359 | 285 |
Receivables, net | 1,074 | 1,044 | ||
Content rights, net | 302 | 304 | ||
Deferred income taxes | 55 | 32 | ||
Prepaid expenses and other current assets | 119 | 110 | ||
Intercompany Trade Receivables, Net | 0 | 0 | ||
Total current assets | 1,830 | 1,877 | ||
Investment in and advances to subsidiaries | 0 | 0 | ||
Noncurrent content rights, net | 1,426 | 1,429 | ||
Goodwill | 4,271 | 4,395 | ||
Intangible assets, net | 1,240 | 1,440 | ||
Equity method investments | 527 | 542 | ||
Other noncurrent assets | 655 | 674 | ||
Total assets | 9,949 | 10,357 | ||
Current portion of debt | 30 | 21 | ||
Other current liabilities | 963 | 990 | ||
Intercompany Trade Payables, Net | 195 | 74 | ||
Total current liabilities | 1,188 | 1,085 | ||
Noncurrent portion of debt | 526 | 892 | ||
Other noncurrent liabilities | 542 | 600 | ||
Total liabilities | 2,256 | 2,577 | ||
Redeemable noncontrolling interests | 243 | 241 | ||
Equity attributable to Discovery Communications, Inc. | 7,450 | 7,539 | ||
Total liabilities and equity | 9,949 | 10,357 | ||
Other Non - Guarantor Subsidiaries Of 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 | 0 | ||
Intercompany Trade Receivables, Net | 0 | 0 | ||
Total current assets | 0 | 0 | ||
Investment in and advances to subsidiaries | 3,417 | 3,618 | ||
Noncurrent content rights, net | 0 | 0 | ||
Goodwill | 0 | 0 | ||
Intangible assets, net | 0 | 0 | ||
Equity method investments | 0 | 0 | ||
Other noncurrent assets | 0 | 0 | ||
Total assets | 3,417 | 3,618 | ||
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 | 20 | 21 | ||
Total liabilities | 20 | 21 | ||
Redeemable noncontrolling interests | 0 | 0 | ||
Equity attributable to Discovery Communications, Inc. | 3,397 | 3,597 | ||
Total liabilities and equity | 3,417 | 3,618 | ||
Discovery and Subsidiaries [Member] | ||||
Cash and cash equivalents | 300 | 390 | $ 367 | $ 408 |
Receivables, net | 1,495 | 1,479 | ||
Content rights, net | 310 | 313 | ||
Deferred income taxes | 97 | 68 | ||
Prepaid expenses and other current assets | 397 | 346 | ||
Intercompany Trade Receivables, Net | 0 | 0 | ||
Total current assets | 2,599 | 2,596 | ||
Investment in and advances to subsidiaries | 0 | 0 | ||
Noncurrent content rights, net | 2,089 | 2,030 | ||
Goodwill | 8,040 | 8,164 | ||
Intangible assets, net | 1,512 | 1,730 | ||
Equity method investments | 557 | 567 | ||
Other noncurrent assets | 961 | 777 | ||
Total assets | 15,758 | 15,864 | ||
Current portion of debt | 82 | 119 | ||
Other current liabilities | 1,479 | 1,460 | ||
Intercompany Trade Payables, Net | 0 | 0 | ||
Total current liabilities | 1,561 | 1,579 | ||
Noncurrent portion of debt | 7,841 | 7,616 | ||
Other noncurrent liabilities | 946 | 977 | ||
Total liabilities | 10,348 | 10,172 | ||
Redeemable noncontrolling interests | 243 | 241 | ||
Equity attributable to Discovery Communications, Inc. | 5,167 | 5,451 | ||
Total liabilities and equity | $ 15,758 | $ 15,864 |
Condensed Consolidating Fina142
Condensed Consolidating Financial Statements (Condensed Consolidating Statement Of Operations) (Details) - USD ($) $ in Millions | May 30, 2014 | Dec. 31, 2016 | [1],[2] | Sep. 30, 2016 | [1],[2] | Jun. 30, 2016 | [1],[2] | Mar. 31, 2016 | [1],[2] | Dec. 31, 2015 | [1],[2] | Sep. 30, 2015 | [1],[2] | Jun. 30, 2015 | [1],[2] | Mar. 31, 2015 | [1],[2] | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Revenues | $ 1,672 | $ 1,556 | $ 1,708 | $ 1,561 | $ 1,646 | $ 1,557 | $ 1,654 | $ 1,537 | $ 6,497 | $ 6,394 | $ 6,265 | |||||||||
Costs of revenues, excluding depreciation and amortization | 2,432 | 2,343 | 2,124 | |||||||||||||||||
Selling, general and administrative | 1,690 | 1,669 | 1,692 | |||||||||||||||||
Depreciation and amortization | 322 | 330 | 329 | |||||||||||||||||
Restructuring and other charges | 58 | 50 | 90 | |||||||||||||||||
(Gain) loss on disposition | $ (31) | (63) | 17 | (31) | ||||||||||||||||
Total costs and expenses | 4,439 | 4,409 | 4,204 | |||||||||||||||||
Operating income | 525 | 458 | 586 | 489 | 441 | 505 | 557 | 482 | 2,058 | 1,985 | 2,061 | |||||||||
Interest expense | (353) | (330) | (328) | |||||||||||||||||
(Loss) income from equity investees, net | (38) | 1 | 23 | |||||||||||||||||
Other (expense) income, net | 4 | (97) | (9) | |||||||||||||||||
Income before income taxes | 1,671 | 1,559 | 1,747 | |||||||||||||||||
Income taxes | (453) | (511) | (610) | |||||||||||||||||
Net income | 309 | 225 | 415 | 269 | 226 | 283 | 289 | 250 | 1,218 | 1,048 | 1,137 | |||||||||
Net income attributable to noncontrolling interests | (1) | (1) | (2) | |||||||||||||||||
Net (income) loss attributable to redeemable noncontrolling interests | (23) | (13) | 4 | |||||||||||||||||
Net income attributable to Discovery Communications, Inc. | $ 304 | $ 219 | $ 408 | $ 263 | $ 219 | $ 279 | $ 286 | $ 250 | 1,194 | 1,034 | 1,139 | |||||||||
Reclassifications and Eliminations [Member] | ||||||||||||||||||||
Revenues | (13) | (13) | (2) | |||||||||||||||||
Costs of revenues, excluding depreciation and amortization | (4) | (4) | (1) | |||||||||||||||||
Selling, general and administrative | (9) | (9) | (1) | |||||||||||||||||
Depreciation and amortization | 0 | 0 | 0 | |||||||||||||||||
Restructuring and other charges | 0 | 0 | 0 | |||||||||||||||||
(Gain) loss on disposition | 0 | 0 | 0 | |||||||||||||||||
Total costs and expenses | (13) | (13) | (2) | |||||||||||||||||
Operating income | 0 | 0 | 0 | |||||||||||||||||
Equity in earnings of subsidiaries | (3,810) | (3,289) | (3,622) | |||||||||||||||||
Interest expense | 0 | 0 | 0 | |||||||||||||||||
(Loss) income from equity investees, net | 0 | 0 | 0 | |||||||||||||||||
Other (expense) income, net | 0 | 0 | 0 | |||||||||||||||||
Income before income taxes | (3,810) | (3,289) | (3,622) | |||||||||||||||||
Income taxes | 0 | 0 | 0 | |||||||||||||||||
Net income | (3,810) | (3,289) | (3,622) | |||||||||||||||||
Net income attributable to noncontrolling interests | (1) | (1) | (2) | |||||||||||||||||
Net (income) loss attributable to redeemable noncontrolling interests | (23) | (13) | 4 | |||||||||||||||||
Net income attributable to Discovery Communications, Inc. | (3,834) | (3,303) | (3,620) | |||||||||||||||||
Discovery [Member] | ||||||||||||||||||||
Revenues | 0 | 0 | 0 | |||||||||||||||||
Costs of revenues, excluding depreciation and amortization | 0 | 0 | 0 | |||||||||||||||||
Selling, general and administrative | 14 | 15 | 15 | |||||||||||||||||
Depreciation and amortization | 0 | 0 | 0 | |||||||||||||||||
Restructuring and other charges | 0 | 0 | 0 | |||||||||||||||||
(Gain) loss on disposition | 0 | 0 | 0 | |||||||||||||||||
Total costs and expenses | 14 | 15 | 15 | |||||||||||||||||
Operating income | (14) | (15) | (15) | |||||||||||||||||
Equity in earnings of subsidiaries | 1,203 | 1,044 | 1,148 | |||||||||||||||||
Interest expense | 0 | 0 | 0 | |||||||||||||||||
(Loss) income from equity investees, net | 0 | 0 | 0 | |||||||||||||||||
Other (expense) income, net | 0 | 0 | 0 | |||||||||||||||||
Income before income taxes | 1,189 | 1,029 | 1,133 | |||||||||||||||||
Income taxes | 5 | 5 | 6 | |||||||||||||||||
Net income | 1,194 | 1,034 | 1,139 | |||||||||||||||||
Net income attributable to noncontrolling interests | 0 | 0 | 0 | |||||||||||||||||
Net (income) loss attributable to redeemable noncontrolling interests | 0 | 0 | 0 | |||||||||||||||||
Net income attributable to Discovery Communications, Inc. | 1,194 | 1,034 | 1,139 | |||||||||||||||||
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) loss on disposition | 0 | 0 | 0 | |||||||||||||||||
Total costs and expenses | 0 | 0 | 0 | |||||||||||||||||
Operating income | 0 | 0 | 0 | |||||||||||||||||
Equity in earnings of subsidiaries | 1,203 | 1,044 | 1,148 | |||||||||||||||||
Interest expense | 0 | 0 | 0 | |||||||||||||||||
(Loss) income from equity investees, net | 0 | 0 | 0 | |||||||||||||||||
Other (expense) income, net | 0 | 0 | 0 | |||||||||||||||||
Income before income taxes | 1,203 | 1,044 | 1,148 | |||||||||||||||||
Income taxes | 0 | 0 | 0 | |||||||||||||||||
Net income | 1,203 | 1,044 | 1,148 | |||||||||||||||||
Net income attributable to noncontrolling interests | 0 | 0 | 0 | |||||||||||||||||
Net (income) loss attributable to redeemable noncontrolling interests | 0 | 0 | 0 | |||||||||||||||||
Net income attributable to Discovery Communications, Inc. | 1,203 | 1,044 | 1,148 | |||||||||||||||||
DCL [Member] | ||||||||||||||||||||
Revenues | 1,963 | 1,909 | 1,871 | |||||||||||||||||
Costs of revenues, excluding depreciation and amortization | 466 | 500 | 454 | |||||||||||||||||
Selling, general and administrative | 292 | 265 | 223 | |||||||||||||||||
Depreciation and amortization | 41 | 35 | 34 | |||||||||||||||||
Restructuring and other charges | 28 | 28 | 17 | |||||||||||||||||
(Gain) loss on disposition | (50) | 0 | 0 | |||||||||||||||||
Total costs and expenses | 777 | 828 | 728 | |||||||||||||||||
Operating income | 1,186 | 1,081 | 1,143 | |||||||||||||||||
Equity in earnings of subsidiaries | 602 | 505 | 561 | |||||||||||||||||
Interest expense | (332) | (318) | (319) | |||||||||||||||||
(Loss) income from equity investees, net | (3) | 4 | 10 | |||||||||||||||||
Other (expense) income, net | 40 | 9 | 36 | |||||||||||||||||
Income before income taxes | 1,493 | 1,281 | 1,431 | |||||||||||||||||
Income taxes | (290) | (237) | (283) | |||||||||||||||||
Net income | 1,203 | 1,044 | 1,148 | |||||||||||||||||
Net income attributable to noncontrolling interests | 0 | 0 | 0 | |||||||||||||||||
Net (income) loss attributable to redeemable noncontrolling interests | 0 | 0 | 0 | |||||||||||||||||
Net income attributable to Discovery Communications, Inc. | 1,203 | 1,044 | 1,148 | |||||||||||||||||
Non-Guarantor Subsidiaries Of DCL [Member] | ||||||||||||||||||||
Revenues | 4,547 | 4,498 | 4,396 | |||||||||||||||||
Costs of revenues, excluding depreciation and amortization | 1,970 | 1,847 | 1,671 | |||||||||||||||||
Selling, general and administrative | 1,393 | 1,398 | 1,455 | |||||||||||||||||
Depreciation and amortization | 281 | 295 | 295 | |||||||||||||||||
Restructuring and other charges | 30 | 22 | 73 | |||||||||||||||||
(Gain) loss on disposition | (13) | 17 | (31) | |||||||||||||||||
Total costs and expenses | 3,661 | 3,579 | 3,463 | |||||||||||||||||
Operating income | 886 | 919 | 933 | |||||||||||||||||
Equity in earnings of subsidiaries | 0 | 0 | 0 | |||||||||||||||||
Interest expense | (21) | (12) | (9) | |||||||||||||||||
(Loss) income from equity investees, net | (35) | (3) | 13 | |||||||||||||||||
Other (expense) income, net | (36) | (106) | (45) | |||||||||||||||||
Income before income taxes | 794 | 798 | 892 | |||||||||||||||||
Income taxes | (168) | (279) | (333) | |||||||||||||||||
Net income | 626 | 519 | 559 | |||||||||||||||||
Net income attributable to noncontrolling interests | 0 | 0 | 0 | |||||||||||||||||
Net (income) loss attributable to redeemable noncontrolling interests | 0 | 0 | 0 | |||||||||||||||||
Net income attributable to Discovery Communications, Inc. | 626 | 519 | 559 | |||||||||||||||||
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) loss on disposition | 0 | 0 | 0 | |||||||||||||||||
Total costs and expenses | 0 | 0 | 0 | |||||||||||||||||
Operating income | 0 | 0 | 0 | |||||||||||||||||
Equity in earnings of subsidiaries | 802 | 696 | 765 | |||||||||||||||||
Interest expense | 0 | 0 | 0 | |||||||||||||||||
(Loss) income from equity investees, net | 0 | 0 | 0 | |||||||||||||||||
Other (expense) income, net | 0 | 0 | 0 | |||||||||||||||||
Income before income taxes | 802 | 696 | 765 | |||||||||||||||||
Income taxes | 0 | 0 | 0 | |||||||||||||||||
Net income | 802 | 696 | 765 | |||||||||||||||||
Net income attributable to noncontrolling interests | 0 | 0 | 0 | |||||||||||||||||
Net (income) loss attributable to redeemable noncontrolling interests | 0 | 0 | 0 | |||||||||||||||||
Net income attributable to Discovery Communications, Inc. | 802 | 696 | 765 | |||||||||||||||||
Discovery and Subsidiaries [Member] | ||||||||||||||||||||
Revenues | 6,497 | 6,394 | 6,265 | |||||||||||||||||
Costs of revenues, excluding depreciation and amortization | 2,432 | 2,343 | 2,124 | |||||||||||||||||
Selling, general and administrative | 1,690 | 1,669 | 1,692 | |||||||||||||||||
Depreciation and amortization | 322 | 330 | 329 | |||||||||||||||||
Restructuring and other charges | 58 | 50 | 90 | |||||||||||||||||
(Gain) loss on disposition | (63) | 17 | (31) | |||||||||||||||||
Total costs and expenses | 4,439 | 4,409 | 4,204 | |||||||||||||||||
Operating income | 2,058 | 1,985 | 2,061 | |||||||||||||||||
Equity in earnings of subsidiaries | 0 | 0 | 0 | |||||||||||||||||
Interest expense | (353) | (330) | (328) | |||||||||||||||||
(Loss) income from equity investees, net | (38) | 1 | 23 | |||||||||||||||||
Other (expense) income, net | 4 | (97) | (9) | |||||||||||||||||
Income before income taxes | 1,671 | 1,559 | 1,747 | |||||||||||||||||
Income taxes | (453) | (511) | (610) | |||||||||||||||||
Net income | 1,218 | 1,048 | 1,137 | |||||||||||||||||
Net income attributable to noncontrolling interests | (1) | (1) | (2) | |||||||||||||||||
Net (income) loss attributable to redeemable noncontrolling interests | (23) | (13) | 4 | |||||||||||||||||
Net income attributable to Discovery Communications, Inc. | $ 1,194 | $ 1,034 | $ 1,139 | |||||||||||||||||
[1] | (b) 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. On March 31, 2015, the Company completed its acquisition of an additional 31% interest in Eurosport France upon resolution of certain regulatory matters. On June 30, 2015, the Company disposed of its radio operations in SBS Nordic. (See Note 3.) | |||||||||||||||||||
[2] | ) |
Condensed Consolidating Fina143
Condensed Consolidating Financial Statements (Condensed Consolidating Statement of Other Comprehensive Income) (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |||||||||||||||||
Dec. 31, 2016 | [1],[2] | Sep. 30, 2016 | [1],[2] | Jun. 30, 2016 | [1],[2] | Mar. 31, 2016 | [1],[2] | Dec. 31, 2015 | [1],[2] | Sep. 30, 2015 | [1],[2] | Jun. 30, 2015 | [1],[2] | Mar. 31, 2015 | [1],[2] | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Condensed Financial Statements, Captions [Line Items] | |||||||||||||||||||
Payments of Ordinary Dividends, Noncontrolling Interest | $ 22 | $ 42 | $ 2 | ||||||||||||||||
Payments for investments, net | (272) | (272) | (180) | ||||||||||||||||
Net income | $ 309 | $ 225 | $ 415 | $ 269 | $ 226 | $ 283 | $ 289 | $ 250 | 1,218 | 1,048 | 1,137 | ||||||||
Currency translation adjustments | (191) | (201) | (399) | ||||||||||||||||
Market value adjustments | 38 | (25) | (2) | ||||||||||||||||
Derivative adjustments | 24 | (1) | (11) | ||||||||||||||||
Comprehensive income | 1,089 | 821 | 725 | ||||||||||||||||
Comprehensive income attributable to noncontrolling interests | (1) | (1) | (2) | ||||||||||||||||
Comprehensive (income) loss attributable to redeemable noncontrolling interests | (23) | 10 | 44 | ||||||||||||||||
Comprehensive income attributable to Discovery Communications Inc. | 1,065 | 830 | 767 | ||||||||||||||||
Reclassifications and Eliminations [Member] | |||||||||||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||||||||||
Payments of Ordinary Dividends, Noncontrolling Interest | 0 | 0 | 0 | ||||||||||||||||
Payments for investments, net | 0 | 0 | 0 | ||||||||||||||||
Net income | (3,810) | (3,289) | (3,622) | ||||||||||||||||
Currency translation adjustments | 699 | 735 | 1,461 | ||||||||||||||||
Market value adjustments | (139) | 92 | 8 | ||||||||||||||||
Derivative adjustments | (86) | 6 | 19 | ||||||||||||||||
Comprehensive income | (3,336) | (2,456) | (2,134) | ||||||||||||||||
Comprehensive income attributable to noncontrolling interests | (1) | (1) | (2) | ||||||||||||||||
Comprehensive (income) loss attributable to redeemable noncontrolling interests | 84 | (97) | (143) | ||||||||||||||||
Comprehensive income attributable to Discovery Communications Inc. | (3,253) | (2,554) | (2,279) | ||||||||||||||||
Discovery [Member] | |||||||||||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||||||||||
Payments of Ordinary Dividends, Noncontrolling Interest | 0 | 0 | 0 | ||||||||||||||||
Payments for investments, net | 0 | 0 | 0 | ||||||||||||||||
Net income | 1,194 | 1,034 | 1,139 | ||||||||||||||||
Currency translation adjustments | (191) | (201) | (399) | ||||||||||||||||
Market value adjustments | 38 | (25) | (2) | ||||||||||||||||
Derivative adjustments | 24 | (1) | (11) | ||||||||||||||||
Comprehensive income | 1,065 | 807 | 727 | ||||||||||||||||
Comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 | ||||||||||||||||
Comprehensive (income) loss attributable to redeemable noncontrolling interests | (23) | 23 | 40 | ||||||||||||||||
Comprehensive income attributable to Discovery Communications Inc. | 1,042 | 830 | 767 | ||||||||||||||||
DCH [Member] | |||||||||||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||||||||||
Payments of Ordinary Dividends, Noncontrolling Interest | 0 | 0 | 0 | ||||||||||||||||
Payments for investments, net | 0 | 0 | 0 | ||||||||||||||||
Net income | 1,203 | 1,044 | 1,148 | ||||||||||||||||
Currency translation adjustments | (191) | (201) | (399) | ||||||||||||||||
Market value adjustments | 38 | (25) | (2) | ||||||||||||||||
Derivative adjustments | 24 | (1) | (11) | ||||||||||||||||
Comprehensive income | 1,074 | 817 | 736 | ||||||||||||||||
Comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 | ||||||||||||||||
Comprehensive (income) loss attributable to redeemable noncontrolling interests | (23) | 23 | 40 | ||||||||||||||||
Comprehensive income attributable to Discovery Communications Inc. | 1,051 | 840 | 776 | ||||||||||||||||
DCL [Member] | |||||||||||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||||||||||
Payments of Ordinary Dividends, Noncontrolling Interest | 0 | 0 | 0 | ||||||||||||||||
Payments for investments, net | (124) | (10) | (5) | ||||||||||||||||
Net income | 1,203 | 1,044 | 1,148 | ||||||||||||||||
Currency translation adjustments | (191) | (201) | (399) | ||||||||||||||||
Market value adjustments | 38 | (25) | (2) | ||||||||||||||||
Derivative adjustments | 24 | (1) | (11) | ||||||||||||||||
Comprehensive income | 1,074 | 817 | 736 | ||||||||||||||||
Comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 | ||||||||||||||||
Comprehensive (income) loss attributable to redeemable noncontrolling interests | (23) | 23 | 40 | ||||||||||||||||
Comprehensive income attributable to Discovery Communications Inc. | 1,051 | 840 | 776 | ||||||||||||||||
Non-Guarantor Subsidiaries Of DCL [Member] | |||||||||||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||||||||||
Payments of Ordinary Dividends, Noncontrolling Interest | 22 | 42 | 2 | ||||||||||||||||
Payments for investments, net | (148) | (262) | (175) | ||||||||||||||||
Net income | 626 | 519 | 559 | ||||||||||||||||
Currency translation adjustments | (190) | (199) | (397) | ||||||||||||||||
Market value adjustments | 38 | (25) | (2) | ||||||||||||||||
Derivative adjustments | 22 | (3) | 10 | ||||||||||||||||
Comprehensive income | 496 | 292 | 170 | ||||||||||||||||
Comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 | ||||||||||||||||
Comprehensive (income) loss attributable to redeemable noncontrolling interests | (23) | 23 | 40 | ||||||||||||||||
Comprehensive income attributable to Discovery Communications Inc. | 473 | 315 | 210 | ||||||||||||||||
Other Non - Guarantor Subsidiaries Of Discovery [Member] | |||||||||||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||||||||||
Payments of Ordinary Dividends, Noncontrolling Interest | 0 | 0 | 0 | ||||||||||||||||
Payments for investments, net | 0 | 0 | 0 | ||||||||||||||||
Net income | 802 | 696 | 765 | ||||||||||||||||
Currency translation adjustments | (127) | (134) | (266) | ||||||||||||||||
Market value adjustments | 25 | (17) | (2) | ||||||||||||||||
Derivative adjustments | 16 | (1) | (7) | ||||||||||||||||
Comprehensive income | 716 | 544 | 490 | ||||||||||||||||
Comprehensive income attributable to noncontrolling interests | 0 | 0 | 0 | ||||||||||||||||
Comprehensive (income) loss attributable to redeemable noncontrolling interests | (15) | 15 | 27 | ||||||||||||||||
Comprehensive income attributable to Discovery Communications Inc. | 701 | 559 | 517 | ||||||||||||||||
Discovery and Subsidiaries [Member] | |||||||||||||||||||
Condensed Financial Statements, Captions [Line Items] | |||||||||||||||||||
Payments of Ordinary Dividends, Noncontrolling Interest | 22 | 42 | 2 | ||||||||||||||||
Payments for investments, net | (272) | (272) | (180) | ||||||||||||||||
Net income | 1,218 | 1,048 | 1,137 | ||||||||||||||||
Currency translation adjustments | (191) | (201) | (399) | ||||||||||||||||
Market value adjustments | 38 | (25) | (2) | ||||||||||||||||
Derivative adjustments | 24 | (1) | (11) | ||||||||||||||||
Comprehensive income | 1,089 | 821 | 725 | ||||||||||||||||
Comprehensive income attributable to noncontrolling interests | (1) | (1) | (2) | ||||||||||||||||
Comprehensive (income) loss attributable to redeemable noncontrolling interests | (23) | 10 | 44 | ||||||||||||||||
Comprehensive income attributable to Discovery Communications Inc. | $ 1,065 | $ 830 | $ 767 | ||||||||||||||||
[1] | (b) 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. On March 31, 2015, the Company completed its acquisition of an additional 31% interest in Eurosport France upon resolution of certain regulatory matters. On June 30, 2015, the Company disposed of its radio operations in SBS Nordic. (See Note 3.) | ||||||||||||||||||
[2] | ) |
Condensed Consolidating Fina144
Condensed Consolidating Financial Statements (Condensed Consolidating Statement Of Cash Flows) (Details) - USD ($) $ in Millions | May 30, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Operating Activities | ||||
Cash provided by operating activities | $ 1,373 | $ 1,277 | $ 1,318 | |
Investing Activities | ||||
Payments for investments, net | (272) | (272) | (180) | |
Purchases of property and equipment | (88) | (103) | (120) | |
Business acquisitions, net of cash acquired | 0 | (80) | (372) | |
Payments for derivative instruments, net | 0 | (9) | 0 | |
Proceeds from dispositions, net of cash disposed | $ 45 | 19 | 61 | 45 |
Distributions from equity method investees, net | 87 | 87 | 61 | |
Investments in equity method investees, net | (18) | |||
Other investing activities, net | (2) | 15 | (2) | |
Cash used in investing activities | (256) | (301) | (568) | |
Financing Activities | ||||
Commercial paper (repayments) borrowings, net | (45) | (136) | 229 | |
Borrowings under revolving credit facility | 613 | 1,016 | 698 | |
Principal repayments of revolving credit facility | (835) | (265) | (660) | |
Borrowings from debt, net of discount | 498 | 936 | 415 | |
Principal repayments of debt | 0 | (849) | 0 | |
Principal repayments of capital lease obligations | (28) | (27) | (19) | |
Repurchases of stock and stock settlements of common stock repurchase contracts | (1,374) | (951) | (1,422) | |
Prepayments for outstanding common stock repurchase contracts | (57) | 0 | 0 | |
Purchase of redeemable noncontrolling interests | 0 | (548) | (1) | |
Payments to redeemable noncontrolling interests | (22) | (42) | (2) | |
Equity-based plan proceeds, net | 46 | 6 | 44 | |
Hedge of borrowings from debt instruments | 40 | (29) | 0 | |
Other financing activities, net | (13) | (13) | (16) | |
Cash used in financing activities | (1,177) | (902) | (734) | |
Effect of exchange rate changes on cash and cash equivalents | (30) | (51) | (57) | |
Net change in cash and cash equivalents | (90) | 23 | (41) | |
Cash and cash equivalents, beginning of period | 390 | 367 | 408 | |
Cash and cash equivalents, end of period | 300 | 390 | 367 | |
Reclassifications and Eliminations [Member] | ||||
Operating Activities | ||||
Cash provided by operating activities | 0 | 0 | 0 | |
Investing Activities | ||||
Payments for investments, net | 0 | 0 | 0 | |
Purchases of property and equipment | 0 | 0 | 0 | |
Business acquisitions, net of cash acquired | 0 | 0 | ||
Payments for derivative instruments, net | 0 | |||
Proceeds from dispositions, net of cash disposed | 0 | 0 | 0 | |
Distributions from equity method investees, net | 0 | 0 | 0 | |
Inter-company distributions | (30) | (37) | ||
Other investing activities, net | 0 | 0 | 0 | |
Cash used in investing activities | (30) | (37) | 0 | |
Financing Activities | ||||
Commercial paper (repayments) borrowings, net | 0 | 0 | 0 | |
Borrowings under revolving credit facility | 0 | 0 | 0 | |
Principal repayments of revolving credit facility | 0 | 0 | 0 | |
Borrowings from debt, net of discount | 0 | 0 | 0 | |
Principal repayments of debt | 0 | |||
Principal repayments of capital lease obligations | 0 | 0 | 0 | |
Repurchases of stock and stock settlements of common stock repurchase contracts | 0 | 0 | 0 | |
Prepayments for outstanding common stock repurchase contracts | 0 | |||
Purchase of redeemable noncontrolling interests | 0 | |||
Payments to redeemable noncontrolling interests | 0 | 0 | 0 | |
Equity-based plan proceeds, net | 0 | 0 | 0 | |
Inter-company contributions and other financing activities, net | 0 | |||
Hedge of borrowings from debt instruments | 0 | 0 | ||
Inter-company distributions, financing activities | 30 | 37 | ||
Other financing activities, net | 0 | 0 | ||
Cash used in financing activities | 30 | 37 | 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] | ||||
Operating Activities | ||||
Cash provided by operating activities | (27) | (134) | 111 | |
Investing Activities | ||||
Payments for investments, net | 0 | 0 | 0 | |
Purchases of property and equipment | 0 | 0 | 0 | |
Business acquisitions, net of cash acquired | 0 | 0 | ||
Payments for derivative instruments, net | 0 | |||
Proceeds from dispositions, net of cash disposed | 0 | 0 | 0 | |
Distributions from equity method investees, net | 0 | 0 | 0 | |
Inter-company distributions | 0 | 0 | ||
Other investing activities, net | 0 | 0 | 0 | |
Cash used in investing activities | 0 | 0 | 0 | |
Financing Activities | ||||
Commercial paper (repayments) borrowings, net | 0 | 0 | 0 | |
Borrowings under revolving credit facility | 0 | 0 | 0 | |
Principal repayments of revolving credit facility | 0 | 0 | 0 | |
Borrowings from debt, net of discount | 0 | 0 | 0 | |
Principal repayments of debt | 0 | |||
Principal repayments of capital lease obligations | 0 | 0 | 0 | |
Repurchases of stock and stock settlements of common stock repurchase contracts | (1,374) | (951) | (1,422) | |
Prepayments for outstanding common stock repurchase contracts | (57) | |||
Purchase of redeemable noncontrolling interests | 0 | |||
Payments to redeemable noncontrolling interests | 0 | 0 | 0 | |
Equity-based plan proceeds, net | 46 | 6 | 44 | |
Inter-company contributions and other financing activities, net | 1,267 | |||
Hedge of borrowings from debt instruments | 0 | 0 | ||
Inter-company distributions, financing activities | 0 | 0 | ||
Other financing activities, net | 1,412 | 1,079 | ||
Cash used in financing activities | 27 | 134 | (111) | |
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] | ||||
Operating Activities | ||||
Cash provided by operating activities | (9) | (15) | (17) | |
Investing Activities | ||||
Payments for investments, net | 0 | 0 | 0 | |
Purchases of property and equipment | 0 | 0 | 0 | |
Business acquisitions, net of cash acquired | 0 | 0 | ||
Payments for derivative instruments, net | 0 | |||
Proceeds from dispositions, net of cash disposed | 0 | 0 | 0 | |
Distributions from equity method investees, net | 0 | 0 | 0 | |
Inter-company distributions | 0 | 0 | ||
Other investing activities, net | 0 | 0 | 0 | |
Cash used in investing activities | 0 | 0 | 0 | |
Financing Activities | ||||
Commercial paper (repayments) borrowings, net | 0 | 0 | 0 | |
Borrowings under revolving credit facility | 0 | 0 | 0 | |
Principal repayments of revolving credit facility | 0 | 0 | 0 | |
Borrowings from debt, net of discount | 0 | 0 | 0 | |
Principal repayments of debt | 0 | |||
Principal repayments of capital lease obligations | 0 | 0 | 0 | |
Repurchases of stock and stock settlements of common stock repurchase contracts | 0 | 0 | 0 | |
Prepayments for outstanding common stock repurchase contracts | 0 | |||
Purchase of redeemable noncontrolling interests | 0 | |||
Payments to redeemable noncontrolling interests | 0 | 0 | 0 | |
Equity-based plan proceeds, net | 0 | 0 | 0 | |
Inter-company contributions and other financing activities, net | 17 | |||
Hedge of borrowings from debt instruments | 0 | 0 | ||
Inter-company distributions, financing activities | 0 | 0 | ||
Other financing activities, net | 9 | 15 | ||
Cash used in financing activities | 9 | 15 | 17 | |
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] | ||||
Operating Activities | ||||
Cash provided by operating activities | 249 | 422 | 269 | |
Investing Activities | ||||
Payments for investments, net | (124) | (10) | (5) | |
Purchases of property and equipment | (18) | (17) | (16) | |
Business acquisitions, net of cash acquired | 0 | (64) | ||
Payments for derivative instruments, net | (11) | |||
Proceeds from dispositions, net of cash disposed | 0 | 0 | 0 | |
Distributions from equity method investees, net | 0 | 0 | 0 | |
Inter-company distributions | 30 | 37 | ||
Other investing activities, net | 0 | 0 | 0 | |
Cash used in investing activities | (112) | (1) | (85) | |
Financing Activities | ||||
Commercial paper (repayments) borrowings, net | (45) | (136) | 229 | |
Borrowings under revolving credit facility | 350 | 0 | 553 | |
Principal repayments of revolving credit facility | (225) | (13) | (540) | |
Borrowings from debt, net of discount | 498 | 936 | 415 | |
Principal repayments of debt | (849) | |||
Principal repayments of capital lease obligations | (5) | (5) | (4) | |
Repurchases of stock and stock settlements of common stock repurchase contracts | 0 | 0 | 0 | |
Prepayments for outstanding common stock repurchase contracts | 0 | |||
Purchase of redeemable noncontrolling interests | 0 | |||
Payments to redeemable noncontrolling interests | 0 | 0 | 0 | |
Equity-based plan proceeds, net | 0 | 0 | 0 | |
Inter-company contributions and other financing activities, net | (952) | |||
Hedge of borrowings from debt instruments | 40 | (29) | ||
Inter-company distributions, financing activities | 0 | 0 | ||
Other financing activities, net | (733) | (330) | ||
Cash used in financing activities | (120) | (426) | (299) | |
Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | 0 | |
Net change in cash and cash equivalents | 17 | (5) | (115) | |
Cash and cash equivalents, beginning of period | 3 | 8 | 123 | |
Cash and cash equivalents, end of period | 20 | 3 | 8 | |
Non-Guarantor Subsidiaries Of DCL [Member] | ||||
Operating Activities | ||||
Cash provided by operating activities | 1,160 | 1,004 | 955 | |
Investing Activities | ||||
Payments for investments, net | (148) | (262) | (175) | |
Purchases of property and equipment | (70) | (86) | (104) | |
Business acquisitions, net of cash acquired | (80) | (308) | ||
Payments for derivative instruments, net | 2 | |||
Proceeds from dispositions, net of cash disposed | 19 | 61 | 45 | |
Distributions from equity method investees, net | 87 | 87 | 61 | |
Inter-company distributions | 0 | 0 | ||
Other investing activities, net | (2) | 15 | (2) | |
Cash used in investing activities | (114) | (263) | (483) | |
Financing Activities | ||||
Commercial paper (repayments) borrowings, net | 0 | 0 | 0 | |
Borrowings under revolving credit facility | 263 | 1,016 | 145 | |
Principal repayments of revolving credit facility | (610) | (252) | (120) | |
Borrowings from debt, net of discount | 0 | 0 | 0 | |
Principal repayments of debt | 0 | |||
Principal repayments of capital lease obligations | (23) | (22) | (15) | |
Repurchases of stock and stock settlements of common stock repurchase contracts | 0 | 0 | 0 | |
Prepayments for outstanding common stock repurchase contracts | 0 | |||
Purchase of redeemable noncontrolling interests | (548) | |||
Payments to redeemable noncontrolling interests | (22) | (42) | (2) | |
Equity-based plan proceeds, net | 0 | 0 | 0 | |
Inter-company contributions and other financing activities, net | (349) | |||
Hedge of borrowings from debt instruments | 0 | 0 | ||
Inter-company distributions, financing activities | (30) | (37) | ||
Other financing activities, net | (701) | (777) | ||
Cash used in financing activities | (1,123) | (662) | (341) | |
Effect of exchange rate changes on cash and cash equivalents | (30) | (51) | (57) | |
Net change in cash and cash equivalents | (107) | 28 | 74 | |
Cash and cash equivalents, beginning of period | 387 | 359 | 285 | |
Cash and cash equivalents, end of period | 280 | 387 | 359 | |
Other Non - Guarantor Subsidiaries Of Discovery [Member] | ||||
Operating Activities | ||||
Cash provided by operating activities | 0 | 0 | 0 | |
Investing Activities | ||||
Payments for investments, net | 0 | 0 | 0 | |
Purchases of property and equipment | 0 | 0 | 0 | |
Business acquisitions, net of cash acquired | 0 | 0 | ||
Payments for derivative instruments, net | 0 | |||
Proceeds from dispositions, net of cash disposed | 0 | 0 | 0 | |
Distributions from equity method investees, net | 0 | 0 | 0 | |
Inter-company distributions | 0 | 0 | ||
Other investing activities, net | 0 | 0 | 0 | |
Cash used in investing activities | 0 | 0 | 0 | |
Financing Activities | ||||
Commercial paper (repayments) borrowings, net | 0 | 0 | 0 | |
Borrowings under revolving credit facility | 0 | 0 | 0 | |
Principal repayments of revolving credit facility | 0 | 0 | 0 | |
Borrowings from debt, net of discount | 0 | 0 | 0 | |
Principal repayments of debt | 0 | |||
Principal repayments of capital lease obligations | 0 | 0 | 0 | |
Repurchases of stock and stock settlements of common stock repurchase contracts | 0 | 0 | 0 | |
Prepayments for outstanding common stock repurchase contracts | 0 | |||
Purchase of redeemable noncontrolling interests | 0 | |||
Payments to redeemable noncontrolling interests | 0 | 0 | 0 | |
Equity-based plan proceeds, net | 0 | 0 | 0 | |
Inter-company contributions and other financing activities, net | 0 | |||
Hedge of borrowings from debt instruments | 0 | 0 | ||
Inter-company distributions, financing activities | 0 | 0 | ||
Other financing activities, net | 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 and Subsidiaries [Member] | ||||
Operating Activities | ||||
Cash provided by operating activities | 1,373 | 1,277 | 1,318 | |
Investing Activities | ||||
Payments for investments, net | (272) | (272) | (180) | |
Purchases of property and equipment | (88) | (103) | (120) | |
Business acquisitions, net of cash acquired | (80) | (372) | ||
Payments for derivative instruments, net | (9) | |||
Proceeds from dispositions, net of cash disposed | 19 | 61 | 45 | |
Distributions from equity method investees, net | 87 | 87 | 61 | |
Inter-company distributions | 0 | 0 | ||
Other investing activities, net | (2) | 15 | (2) | |
Cash used in investing activities | (256) | (301) | (568) | |
Financing Activities | ||||
Commercial paper (repayments) borrowings, net | (45) | (136) | 229 | |
Borrowings under revolving credit facility | 613 | 1,016 | 698 | |
Principal repayments of revolving credit facility | (835) | (265) | (660) | |
Borrowings from debt, net of discount | 498 | 936 | 415 | |
Principal repayments of debt | (849) | |||
Principal repayments of capital lease obligations | (28) | (27) | (19) | |
Repurchases of stock and stock settlements of common stock repurchase contracts | (1,374) | (951) | (1,422) | |
Prepayments for outstanding common stock repurchase contracts | (57) | |||
Purchase of redeemable noncontrolling interests | (548) | |||
Payments to redeemable noncontrolling interests | (22) | (42) | (2) | |
Equity-based plan proceeds, net | 46 | 6 | 44 | |
Inter-company contributions and other financing activities, net | (17) | |||
Hedge of borrowings from debt instruments | 40 | (29) | ||
Inter-company distributions, financing activities | 0 | 0 | ||
Other financing activities, net | (13) | (13) | ||
Cash used in financing activities | (1,177) | (902) | (734) | |
Effect of exchange rate changes on cash and cash equivalents | (30) | (51) | (57) | |
Net change in cash and cash equivalents | (90) | 23 | (41) | |
Cash and cash equivalents, beginning of period | 390 | 367 | 408 | |
Cash and cash equivalents, end of period | $ 300 | $ 390 | $ 367 |