Nielsen (NLSN) 10-Q 28 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - Jun. 30, 2015 - shares	Total
Document Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	NLSNNV
Entity Registrant Name	Nielsen N.V.
Entity Central Index Key	1,492,633
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	366,859,970

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Revenues	$ 1,559	$ 1,594	$ 3,017	$ 3,083
Cost of revenues, exclusive of depreciation and amortization shown separately below	648	677	1,270	1,319
Selling, general and administrative expenses, exclusive of depreciation and amortization shown separately below	465	482	946	971
Depreciation and amortization	146	145	288	286
Restructuring charges	14	13	28	37
Operating income	286	277	485	470
Interest income	1	1	2	2
Interest expense	(79)	(78)	(152)	(155)
Foreign currency exchange transaction losses, net	(6)	(6)	(32)	(33)
Other expense, net	0	(45)	0	(48)
Income from continuing operations before income taxes and equity in net income of affiliates	202	149	303	236
Provision for income taxes	(86)	(74)	(124)	(107)
Equity in net income of affiliates		1		2
Net income	116	76	179	131
Net income/(loss) attributable to noncontrolling interests	2	2	2	(1)
Net income attributable to Nielsen stockholders	$ 114	$ 74	$ 177	$ 132
Net income per share of common stock, basic
Income from continuing operations	$ 0.31	$ 0.19	$ 0.48	$ 0.35
Net income attributable to Nielsen stockholders	0.31	0.19	0.48	0.35
Net income per share of common stock, diluted
Income from continuing operations	0.31	0.19	0.47	0.34
Net income attributable to Nielsen stockholders	$ 0.31	$ 0.19	$ 0.47	$ 0.34
Weighted-average shares of common stock outstanding, basic	368,364,597	379,755,766	369,759,375	379,386,349
Dilutive shares of common stock	4,216,436	5,601,047	4,204,371	5,624,779
Weighted-average shares of common stock outstanding, diluted	372,581,033	385,356,813	373,963,746	385,011,128
Dividends declared per common share	$ 0.28	$ 0.25	$ 0.53	$ 0.45

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement Of Income And Comprehensive Income [Abstract]
Net income		$ 116	$ 76	$ 179	$ 131
Other comprehensive income/(loss), net of tax
Foreign currency translation adjustments	[1]	35	41	(137)	33
Available for sale securities	[2]	1	2	4	4
Changes in the fair value of cash flow hedges	[3]	1	(1)	(2)	(1)
Defined benefit pension plan adjustments	[4]	4	(1)	10	2
Total other comprehensive income/(loss)		41	41	(125)	38
Total comprehensive income		157	117	54	169
Less: comprehensive income/(loss) attributable to noncontrolling interests		1	2	(2)	(1)
Total comprehensive income attributable to Nielsen stockholders		$ 156	$ 115	$ 56	$ 170
[1]	Net of tax of zero and $(2) million for the three months ended June 30, 2015 and 2014, respectively, and $(12) million and $(1) million for the six months ended June 30, 2015 and 2014, respectively
[2]	Net of tax of $(1) million for each of the three months ended June 30, 2015 and 2014, and $(3) million for each of the six months ended June 30, 2015 and 2014
[3]	Net of tax of $(1) million and zero for the three months ended June 30, 2015 and 2014, respectively, and $1 million and zero for the six months ended June 30, 2015 and 2014, respectively
[4]	Net of tax of $(1) million and $1 million for the three months ended June 30, 2015 and 2014, respectively, and $(2) million and $1 million for the six months ended June 30, 2015 and 2014, respectively

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement Of Income And Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax	$ 0	$ (2)	$ (12)	$ (1)
Available-for-sale securities, tax	(1)	(1)	(3)	(3)
Changes in the fair value of cash flow hedges, tax	(1)	0	1	0
Defined benefit pension plan adjustments, tax	$ (1)	$ 1	$ (2)	$ 1

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Current assets
Cash and cash equivalents	$ 331	$ 273
Trade and other receivables, net of allowances for doubtful accounts and sales returns of $28 and $29 as of June 30, 2015 and December 31, 2014, respectively	1,227	1,241
Prepaid expenses and other current assets	556	505
Total current assets	2,114	2,019
Non-current assets
Property, plant and equipment, net	508	533
Goodwill	7,690	7,671
Other intangible assets, net	4,702	4,715
Deferred tax assets	70	83
Other non-current assets	381	355
Total assets	15,465	15,376
Current liabilities
Accounts payable and other current liabilities	831	1,035
Deferred revenues	332	304
Income tax liabilities	139	62
Current portion of long-term debt, capital lease obligations and short-term borrowings	331	397
Total current liabilities	1,633	1,798
Non-current liabilities
Long-term debt and capital lease obligations	7,142	6,465
Deferred tax liabilities	1,017	1,025
Other non-current liabilities	921	955
Total liabilities	$ 10,713	$ 10,243
Commitments and contingencies (Note 11)
Nielsen stockholders’ equity
Common stock, €0.07 par value, 1,185,800,000 and 1,185,800,000 shares authorized; 382,675,950 and 382,622,922 shares issued and 366,859,970 and 372,757,598 shares outstanding at June 30, 2015 and December 31, 2014, respectively	$ 32	$ 32
Additional paid-in capital	6,179	6,344
Treasury stock, at cost	(685)	(415)
Retained earnings/(accumulated deficit)	49	(128)
Accumulated other comprehensive loss, net of income taxes	(898)	(777)
Total Nielsen stockholders’ equity	4,677	5,056
Noncontrolling interests	75	77
Total equity	4,752	5,133
Total liabilities and equity	$ 15,465	$ 15,376

Condensed Consolidated Balance6

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) $ in Millions	Jun. 30, 2015USD ($)shares	Jun. 30, 2015€ / shares	Dec. 31, 2014USD ($)shares	Dec. 31, 2014€ / shares
Statement Of Financial Position [Abstract]
Trade and other receivables, allowances for doubtful accounts and sales returns | $	$ 28		$ 29
Common stock, par value | € / shares		€ 0.07		€ 0.07
Common stock, shares authorized	1,185,800,000		1,185,800,000
Common stock, shares issued	382,675,950		382,622,922
Common stock, shares outstanding	366,859,970		372,757,598

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Operating Activities
Net income	$ 179	$ 131
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation expense	27	24
Excess tax benefits from stock-based compensation	(28)
Currency exchange rate differences on financial transactions and other losses	34	81
Equity in net income of affiliates, net of dividends received	1	(2)
Depreciation and amortization	288	286
Changes in operating assets and liabilities, net of effect of businesses acquired and divested:
Trade and other receivables, net	4	(47)
Prepaid expenses and other current assets	(59)	(48)
Accounts payable and other current liabilities and deferred revenues	(187)	(167)
Other non-current liabilities	(4)	(4)
Interest payable	12	8
Income taxes	59	38
Net cash provided by operating activities	326	300
Investing Activities
Acquisition of subsidiaries and affiliates, net of cash acquired	(197)	(192)
Additions to property, plant and equipment and other assets	(69)	(54)
Additions to intangible assets	(130)	(117)
Other investing activities	3
Net cash used in investing activities	(393)	(363)
Financing Activities
Net (payments)/borrowings under revolving credit facility	(72)	25
Proceeds from issuances of debt, net of issuance costs	746	3,748
Repayment of debt	(49)	(3,748)
Cash dividends paid to stockholders	(192)	(167)
Repurchase of common stock	(320)	(48)
Proceeds from exercise of stock options	26	57
Excess tax benefits from stock-based compensation	28
Other financing activities	(12)	(41)
Net cash provided by/(used in) financing activities	155	(174)
Effect of exchange-rate changes on cash and cash equivalents	(30)	(17)
Net increase/(decrease) in cash and cash equivalents	58	(254)
Cash and cash equivalents at beginning of period	273	564
Cash and cash equivalents at end of period	331	310
Supplemental Cash Flow Information
Cash paid for income taxes	(65)	(69)
Cash paid for interest, net of amounts capitalized	$ (140)	$ (147)

Background and Basis of Present

Background and Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Background and Basis of Presentation	1. Background and Basis of Presentation Background Nielsen N.V. (formerly Nielsen Holdings N.V.) (“Nielsen” or the “Company”), together with its subsidiaries, is a leading global information and measurement company that provides clients with a comprehensive understanding of consumers and consumer behavior. Nielsen is aligned into two reporting segments: what consumers buy (“Buy”) and what consumers watch and listen to (“Watch”). Nielsen has a presence in more than 100 countries, with its headquarters located in Diemen, the Netherlands and New York, USA. The Company was formed by several private equity groups through Valcon Acquisition Holding (Luxembourg) S.à r.l. (“Luxco”). As of December 31, 2014, Luxco owned approximately 15% of the Company’s common stock. During the six months ended June 30, 2015, Luxco sold 46.7 million shares of the Company’s common stock. As of June 30, 2015, Luxco owned approximately 2% of the Company’s common stock. On February 26, 2015, Nielsen announced that its Board of Directors unanimously approved a proposal that would result in a change in domicile of the Company from the Netherlands to the United Kingdom. Under the proposal, the Company’s principal executive offices would continue to be located in the United States. The proposed change in domicile was approved by the Company’s shareholders on June 26, 2015 and is expected to occur during the third quarter of 2015 subject to the satisfaction of various customary conditions. Basis of Presentation The accompanying condensed consolidated financial statements are unaudited but, in the opinion of management, contain all the adjustments (consisting of those of a normal recurring nature) considered necessary to present fairly the Company’s financial position and the results of operations and cash flows for the periods presented in conformity with accounting principles generally accepted in the U.S. (“U.S. GAAP”) applicable to interim periods. For a more complete discussion of significant accounting policies, commitments and contingencies and certain other information, refer to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. All amounts are presented in U.S. Dollars (“$”), except for share data or where expressly stated as being in other currencies, e.g., Euros (“€”). The condensed consolidated financial statements include the accounts of Nielsen and all subsidiaries and other controlled entities. The Company has evaluated events occurring subsequent to June 30, 2015 for potential recognition or disclosure in the condensed consolidated financial statements and concluded there were no subsequent events that required recognition or disclosure other than those provided. Earnings per Share Basic net income per share is computed using the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share is computed using the weighted-average number of shares of common stock and dilutive potential shares of common stock outstanding during the period. Dilutive potential shares of common stock consist of employee stock options and restricted stock. The effect of 2,349,596 and 81,000 shares of common stock equivalents under stock compensation plans were excluded from the calculation of diluted earnings per share for the three months ended June 30, 2015 and 2014, respectively, as such shares would have been anti-dilutive. The effect of 2,383,850 and 81,000 shares of common stock equivalents under stock compensation plans were excluded from the calculation of diluted earnings per share for the six months ended June 30, 2015 and 2014, respectively, as such shares would have been anti-dilutive. D evaluation of Venezuelan Currency Nielsen has operations in both the Buy and Watch segments in Venezuela and the functional currency for these operations was the Venezuelan Bolivares Fuertes. Venezuela’s currency has been considered hyperinflationary since January 1, 2010 and, accordingly, the local currency transactions have been denominated in U.S. dollars since January 1, 2010 and will continue to be until Venezuela’s currency is deemed to be non-hyperinflationary. During the period between the first quarter of 2013 through the second quarter of 2015, there have been a number of changes in the foreign exchange regime in Venezuela that have impacted the conversion rates used by the Company for the conversion of Venezuelan Bolivares Fuertes into U.S. Dollars in its financial statements, resulting in foreign currency exchange transaction losses in the condensed consolidated statement of operations, reflecting the write-down of monetary assets and liabilities in our Venezuelan operations. In February 2013, the official exchange rate was moved from 4.30 to 6.30 and the regulated System of Transactions with Securities in Foreign Currency market was suspended. Based on facts and circumstances present at March 31, 2014, Nielsen began using the exchange rate determined by periodic auctions for U.S. dollars conducted under Venezuela’s Complementary System of Foreign Currency Administration (“SICAD I”) as the SICAD I exchange rate represented what was the most realistic official exchange rate at which to remeasure the U.S. dollar value of the bolivar-denominated monetary assets and liabilities of Nielsen’s Venezuelan operations at that time. At March 31, 2014, the SICAD I exchange rate was 10.8 bolivars to the U.S. dollar. As a result of this change, Nielsen recorded a pre-tax charge of $20 million during the first quarter of 2014. Due to the lack of access to the SICAD I auction system throughout the remainder of 2014, as of December 31, 2014 the Company decided it was more likely that it would be able to gain access to U.S. dollars through the SICAD II mechanism to settle transactions conducted by the Company in Venezuela as SICAD II was created to provide a more open mechanism that was designed to permit any company to request U.S. dollars for any purpose. At December 31, 2014, the SICAD II exchange rate was 50.0 bolivars to the U.S. dollar. As a result of the changes in exchange rate assumptions in the fourth quarter 2014, Nielsen recorded a pre-tax charge of $32 million, for a total of $52 million for the year ended December 31, 2014. On February 12, 2015, the Venezuelan government replaced SICAD II with a new foreign exchange market mechanism (“SIMADI”). Nielsen currently expects to be able to access U.S. dollars through the SIMADI market. SIMADI has significantly higher foreign exchange rates than those available through the other foreign exchange mechanisms. At June 30, 2015, the SIMADI exchange rate was 197.0 bolivars to the U.S. dollar. As a result of this change, Nielsen recorded a pre-tax charge of $8 million during the six months ended June 30, 2015. The Company will continue to assess the appropriate conversion rate based on events in Venezuela and the Company’s specific facts and circumstances. Total net monetary assets in U.S. dollars at the June 30, 2015 SIMADI rate totaled $3 million.

Summary of Recent Accounting Pr

Summary of Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Summary of Recent Accounting Pronouncements	2. Summary of Recent Accounting Pronouncements Consolidation In Debt Issuance Costs In April 2015, the FASB issued an ASU, “Simplifying the Presentation of Debt Issuance Costs”. The new standard changes the presentation of debt issuance costs in financial statements. Under the ASU, an entity will present such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs is reported as interest expense. This guidance will be effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2015; however, early adoption is permitted. Nielsen is currently assessing the impact of the adoption of this ASU will have on the Company’s condensed consolidated financial statements. Revenue Recognition In May 2014, the FASB issued an ASU, “Revenue from Contracts with Customers”. The new revenue recognition standard provides a five step analysis of transactions to determine when and how revenue is recognized. The new model will require revenue recognition to depict the transfer of promised goods or services to customers in an amount that reflects the consideration a company expects to receive in exchange for those goods or services and shall be applied retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. The FASB has approved a one year deferral of this standard and is now effective for annual periods beginning after December 15, 2017. Nielsen is currently assessing the impact of the adoption of this ASU will have on our condensed consolidated financial statements.

Business Acquisitions

Business Acquisitions	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Business Acquisitions	3. Business Acquisitions For the six months ended June 30, 2015, Nielsen paid cash consideration of $197 million associated with both current period and previously executed acquisitions, net of cash acquired. Had these current period acquisitions occurred as of January 1, 2015, the impact on Nielsen’s consolidated results of operations would not have been material. For the six months ended June 30, 2014, Nielsen paid cash consideration of $192 million associated with both current period and previously executed acquisitions, net of cash acquired. Had these current period acquisitions occurred as of January 1, 2014, the impact on Nielsen’s consolidated results of operations would not have been material.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	4. Goodwill and Other Intangible Assets Goodwill The table below summarizes the changes in the carrying amount of goodwill by reportable segment for the six months ended June 30, 2015. (IN MILLIONS) Buy Watch Total Balance, December 31, 2014 $ 3,014 $ 4,657 $ 7,671 Acquisitions, divestitures and other adjustments 5 142 147 Effect of foreign currency translation (113 ) (15 ) (128 ) Balance, June 30, 2015 $ 2,906 $ 4,784 $ 7,690 At June 30, 2015, $69 million of the goodwill is expected to be deductible for income tax purposes. Other Intangible Assets Gross Amounts Accumulated Amortization June 30, December 31, June 30, December 31, (IN MILLIONS) 2015 2014 2015 2014 Indefinite-lived intangibles: Trade names and trademarks $ 1,921 $ 1,921 — — Amortized intangibles: Trade names and trademarks 167 166 (77 ) (68 ) Customer-related intangibles 2,972 2,938 (1,136 ) (1,054 ) Covenants-not-to-compete 38 36 (34 ) (30 ) Computer software 2,091 1,935 (1,264 ) (1,157 ) Patents and other 105 105 (81 ) (77 ) Total $ 5,373 $ 5,180 $ (2,592 ) $ (2,386 ) Amortization expense associated with the above intangible assets was $103 million and $104 million for the three months ended June 30, 2015 and 2014, respectively. These amounts included amortization expense associated with computer software of $55 million and $57 million for the three months ended June 30, 2015 and 2014, respectively. Amortization expense associated with the above intangible assets was $203 million and $201 million for the six months ended June 30, 2015 and 2014, respectively. These amounts included amortization expense associated with computer software of $109 million and $108 million for the six months ended June 30, 2015 and 2014, respectively.

Changes in and Reclassification

Changes in and Reclassification out of Accumulated Other Comprehensive Loss by Component	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Changes in and Reclassification out of Accumulated Other Comprehensive Loss by Component	5. Changes in and Reclassification out of Accumulated Other Comprehensive Loss by Component The table below summarizes the changes in accumulated other comprehensive loss, net of tax, by component for the six months ended June 30, 2015 and 2014. Currency Available- Translation for-Sale Post Employment Adjustments Securities Cash Flow Hedges Benefits Total (IN MILLIONS) Balance December 31, 2014 $ (418 ) $ 19 $ (2 ) $ (376 ) $ (777 ) Other comprehensive (loss)/income before reclassifications (137 ) 4 (6 ) — (139 ) Amounts reclassified from accumulated other comprehensive loss — — 4 10 14 Net current period other comprehensive (loss)/income (137 ) 4 (2 ) 10 (125 ) Net current period other comprehensive loss attributable to noncontrolling interest (4 ) — — — (4 ) Net current period other comprehensive (loss)/income attributable to Nielsen stockholders (133 ) 4 (2 ) 10 (121 ) Balance June 30, 2015 $ (551 ) $ 23 $ (4 ) $ (366 ) $ (898 ) Currency Available- Translation for-Sale Post Employment Adjustments Securities Cash Flow Hedges Benefits Total (IN MILLIONS) Balance December 31, 2013 $ (124 ) $ 9 $ (5 ) $ (267 ) $ (387 ) Other comprehensive income/(loss) before reclassifications 33 4 (6 ) (2 ) 29 Amounts reclassified from accumulated other comprehensive loss — — 5 4 9 Net current period other comprehensive income/(loss) attributable to Nielsen stockholders 33 4 (1 ) 2 38 Balance June 30, 2014 $ (91 ) $ 13 $ (6 ) $ (265 ) $ (349 ) The table below summarizes the reclassification of accumulated other comprehensive loss by component for the three months ended June 30, 2015 and 2014, respectively. Amount Reclassified from Accumulated Other (IN MILLIONS) Comprehensive Loss Details about Accumulated Affected Line Item in the Other Comprehensive Three Months Ended Three Months Ended Condensed Consolidated Income components June 30, 2015 June 30, 2014 Statement of Operations Cash flow hedges Interest rate contracts $ 3 $ 4 Interest expense 1 1 Benefit for income taxes $ 2 $ 3 Total, net of tax Amortization of Post-Employment Benefits Actuarial loss $ 6 $ 3 (a) 1 1 Benefit for income taxes $ 5 $ 2 Total, net of tax Total reclassification for the period $ 7 $ 5 Net of tax (a) This accumulated other comprehensive loss component is included in the computation of net periodic pension cost. The table below summarizes the reclassification of accumulated other comprehensive loss by component for the six months ended June 30, 2015 and 2014, respectively. Amount Reclassified from Accumulated Other (IN MILLIONS) Comprehensive Loss Details about Accumulated Affected Line Item in the Other Comprehensive Six Months Ended Six Months Ended Condensed Consolidated Income components June 30, 2015 June 30, 2014 Statement of Operations Cash flow hedges Interest rate contracts $ 6 $ 8 Interest expense 2 3 Benefit for income taxes $ 4 $ 5 Total, net of tax Amortization of Post-Employment Benefits Actuarial loss $ 12 $ 6 (a) 2 2 Benefit for income taxes $ 10 $ 4 Total, net of tax Total reclassification for the period $ 14 $ 9 Net of tax (a) This accumulated other comprehensive loss component is included in the computation of net periodic pension cost.

Restructuring Activities

Restructuring Activities	6 Months Ended
	Jun. 30, 2015
Restructuring And Related Activities [Abstract]
Restructuring Activities	6. Restructuring Activities A summary of the changes in the liabilities for restructuring activities is provided below: Total (IN MILLIONS) Initiatives Balance at December 31, 2014 $ 72 Charges 28 Payments (48 ) Effect of foreign currency translation and reclassification adjustments (3 ) Balance at June 30, 2015 $ 49 Nielsen recorded $14 million and $13 million in restructuring charges for the three months ended June 30, 2015 and 2014, respectively, primarily relating to severance costs. Nielsen recorded $28 million and $37 million in restructuring charges for the six months ended June 30, 2015 and 2014, respectively, primarily relating to severance costs. Of the $49 million in remaining liabilities for restructuring actions, $39 million is expected to be paid within one year and is classified as a current liability within the condensed consolidated balance sheet as of June 30, 2015.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	7. Fair Value Measurements Fair value is defined as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining fair value, the Company considers the principal or most advantageous market in which the Company would transact, and also considers assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions, and risk of non-performance. There are three levels of inputs that may be used to measure fair value: Level 1: Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2: Pricing inputs other than quoted prices in active markets included in Level 1, which are either directly or indirectly observable as of the reporting date. Level 3: Pricing inputs that are generally unobservable and may not be corroborated by market data. Financial Assets and Liabilities Measured on a Recurring Basis The Company’s financial assets and liabilities are measured and recorded at fair value, except for equity method investments, cost method investments, and long-term debt. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurements. The Company’s assessment of the significance of a particular input to the fair value measurements requires judgment, and may affect the valuation of the assets and liabilities being measured and their placement within the fair value hierarchy. The following table summarizes the valuation of the Company’s material financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2015 and December 31, 2014: June 30, (IN MILLIONS) 2015 Level 1 Level 2 Level 3 Assets: Investments in equity securities (1) $ 52 $ 52 — — Plan assets for deferred compensation (2) 31 31 — — Investment in mutual funds (3) 2 2 — — Interest rate swap arrangements (4) 1 — 1 — Total $ 86 $ 85 $ 1 — Liabilities: Interest rate swap arrangements (4) $ 9 — $ 9 — Deferred compensation liabilities (5) 31 31 — — Total $ 40 $ 31 $ 9 — December 31, 2014 Level 1 Level 2 Level 3 Assets: Investments in equity securities (1) $ 45 $ 45 — — Plan assets for deferred compensation (2) 28 28 — — Investment in mutual funds (3) 2 2 — — Interest rate swap arrangements (4) 1 — 1 — Total $ 76 $ 75 1 — Liabilities: Interest rate swap arrangements (4) $ 6 — $ 6 — Deferred compensation liabilities (5) 28 28 — — Total $ 34 $ 28 $ 6 — (1) Investments in equity securities are carried at fair value, which is based on the quoted market price at period end in an active market. These investments are classified as available-for-sale with any unrealized gains or losses resulting from changes in fair value recorded, net of tax, as a component of accumulated other comprehensive income/(loss) until realized. Nielsen assesses declines in the value of individual investments to determine whether such decline is other than temporary and thus the investment is impaired by considering available evidence. No impairment charge was recorded for these available-for-sale securities during the six months ended June 30, 2015 and the year ended December 31, 2014. (2) Plan assets are comprised of investments in mutual funds, which are intended to fund liabilities arising from deferred compensation plans. These investments are carried at fair value, which is based on quoted market prices at period end in active markets. These investments are classified as trading securities with any gains or losses resulting from changes in fair value recorded in other expense, net. (3) Investments in mutual funds are money-market accounts held with the intention of funding certain specific retirement plans. (4) Derivative financial instruments include interest rate swap arrangements recorded at fair value based on externally-developed valuation models that use readily observable market parameters and the consideration of counterparty risk. (5) The Company offers certain employees the opportunity to participate in a deferred compensation plan. A participant’s deferrals are invested in a variety of participant directed stock and bond mutual funds and are classified as trading securities. Changes in the fair value of these securities are measured using quoted prices in active markets based on the market price per unit multiplied by the number of units held exclusive of any transaction costs. A corresponding adjustment for changes in fair value of the trading securities is also reflected in the changes in fair value of the deferred compensation obligation. Derivative Financial Instruments Nielsen primarily uses interest rate swap derivative instruments to manage risk that changes in interest rates will affect the cash flows of its underlying debt obligations. To qualify for hedge accounting, the hedging relationship must meet several conditions with respect to documentation, probability of occurrence, hedge effectiveness and reliability of measurement. Nielsen documents the relationship between hedging instruments and hedged items, as well as its risk management objective and strategy for undertaking various hedge transactions as well as the hedge effectiveness assessment, both at the hedge inception and on an ongoing basis. Nielsen recognizes all derivatives at fair value either as assets or liabilities in the consolidated balance sheets and changes in the fair values of such instruments are recognized currently in earnings unless specific hedge accounting criteria are met. If specific cash flow hedge accounting criteria are met, Nielsen recognizes the changes in fair value of these instruments in accumulated other comprehensive income/(loss). Nielsen manages exposure to possible defaults on derivative financial instruments by monitoring the concentration of risk that Nielsen has with any individual bank and through the use of minimum credit quality standards for all counterparties. Nielsen does not require collateral or other security in relation to derivative financial instruments. A derivative contract entered into between Nielsen or certain of its subsidiaries and a counterparty that was also a lender under Nielsen’s senior secured credit facilities at the time the derivative contract was entered into is guaranteed under the senior secured credit facilities by Nielsen and certain of its subsidiaries (see Note 8 - Long-term Debt and Other Financing Arrangements for more information). Since it is Nielsen’s policy to only enter into derivative contracts with banks of internationally acknowledged standing, Nielsen considers the counterparty risk to be remote. It is Nielsen’s policy to have an International Swaps and Derivatives Association (“ISDA”) Master Agreement established with every bank with which it has entered into any derivative contract. Under each of these ISDA Master Agreements, Nielsen agrees to settle only the net amount of the combined market values of all derivative contracts outstanding with any one counterparty should that counterparty default. Certain of the ISDA Master Agreements contain cross-default provisions where if the Company either defaults in payment obligations under its credit facility or if such obligations are accelerated by the lenders, then the Company could also be declared in default on its derivative obligations. At June 30, 2015, Nielsen had no material exposure to potential economic losses due to counterparty credit default risk or cross-default risk on its derivative financial instruments. Foreign Currency Exchange Risk Foreign currency translation risk is the risk that exchange rate gains or losses arise from translating foreign entities’ statements of earnings and balance sheets from functional currency to our reporting currency (the U.S. Dollar) for consolidation purposes. Nielsen manages translation risk exposure by creating “natural hedges” in its financing or by using derivative financial instruments aimed at offsetting certain exposures in the statement of earnings or the balance sheet. Nielsen does not trade derivative financial instruments for speculative purposes. During the six months ended June 30, 2015 and 2014, Nielsen recorded a net gain of $3 million and zero, respectively, associated with foreign currency derivative financial instruments within foreign currency exchange transactions losses, net in our condensed consolidated statements of operations. As of June 30, 2015 Nielsen has foreign currency derivative financial instruments with a total notional value of $15 million and a maturity date of July 31, 2015. As of December 31, 2014, there were no foreign currency derivative financial instruments outstanding. Interest Rate Risk Nielsen is exposed to cash flow interest rate risk on the floating-rate U.S. Dollar and Euro Term Loans, and uses floating-to-fixed interest rate swaps to hedge this exposure. For these derivatives, Nielsen reports the after-tax gain or loss from the effective portion of the hedge as a component of accumulated other comprehensive income/(loss) and reclassifies it into earnings in the same period or periods in which the hedged transaction affects earnings, and within the same income statement line item as the impact of the hedged transaction. In April 2015, the Company entered into a $150 million in notional amount of three-year forward interest rate swap agreement with a starting date in April 2016. This agreement fixes the LIBOR-related portion of the interest rates of a corresponding amount of the Company’s variable-rate debt at an average rate of 1.40%. This derivative instrument has been designated as an interest rate cash flow hedge. As of June 30, 2015 the Company had the following outstanding interest rate swaps utilized in the management of its interest rate risk: Notional Amount Maturity Date Currency Interest rate swaps designated as hedging instruments US Dollar term loan floating-to-fixed rate swaps $ 250,000,000 September 2015 US Dollar US Dollar term loan floating-to-fixed rate swaps $ 125,000,000 November 2015 US Dollar Euro term loan floating-to-fixed rate swaps € 125,000,000 November 2015 Euro US Dollar term loan floating-to-fixed rate swaps $ 1,575,000,000 May 2016 US Dollar US Dollar term loan floating-to-fixed rate swaps $ 500,000,000 November 2016 US Dollar US Dollar term loan floating-to-fixed rate swaps $ 250,000,000 September 2017 US Dollar US Dollar term loan floating-to-fixed rate swaps $ 250,000,000 May 2018 US Dollar US Dollar term loan floating-to-fixed rate swaps $ 150,000,000 April 2019 US Dollar Nielsen expects to recognize approximately $7 million of net pre-tax losses from accumulated other comprehensive loss to interest expense in the next 12 months associated with its interest-related derivative financial instruments. Fair Values of Derivative Instruments in the Consolidated Balance Sheets The fair values of the Company’s derivative instruments as of June 30, 2015 and December 31, 2014 were as follows: June 30, 2015 December 31, 2014 Accounts Payable Accounts Payable Derivatives Designated as Hedging Instruments Other Non-Current and Other Current Other Non-Current Other Non-Current and Other Current Other Non-Current (IN MILLIONS) Assets Liabilities Liabilities Assets Liabilities Liabilities Interest rate swaps $ 1 $ 5 $ 4 $ 1 $ 4 $ 2 Derivatives in Cash Flow Hedging Relationships The pre-tax effect of derivative instruments in cash flow hedging relationships for the three months ended June 30, 2015 and 2014 was as follows: Amount of Loss Amount of Loss Reclassified from AOCI Recognized in OCI Location of Loss into Income (Effective Portion) Reclassified from AOCI (Effective Portion) Derivatives in Cash Flow Three Months Ended into Income (Effective Three Months Ended Hedging Relationships June 30, Portion) June 30, (IN MILLIONS) 2015 2014 2015 2014 Interest rate swaps $ 2 $ 5 Interest expense $ 3 $ 4 The pre-tax effect of derivative instruments in cash flow hedging relationships for the six months ended June 30, 2015 and 2014 was as follows: Amount of Loss Amount of Loss Reclassified from AOCI Recognized in OCI Location of Loss into Income (Effective Portion) Reclassified from AOCI (Effective Portion) Derivatives in Cash Flow Six Months Ended into Income (Effective Six Months Ended Hedging Relationships June 30, Portion) June 30, (IN MILLIONS) 2015 2014 2015 2014 Interest rate swaps $ 10 $ 9 Interest expense $ 6 $ 8 Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis The Company is required, on a nonrecurring basis, to adjust the carrying value or provide valuation allowances for certain assets using fair value measurements. The Company’s equity method investments, cost method investments, and non-financial assets, such as goodwill, intangible assets, and property, plant and equipment, are measured at fair value when there is an indicator of impairment and recorded at fair value only when an impairment charge is recognized. The Company did not measure any material non-financial assets or liabilities at fair value during the six months ended June 30, 2015.

Long-term Debt and Other Financ

Long-term Debt and Other Financing Arrangements	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Long-term Debt and Other Financing Arrangements	8. Long-term Debt and Other Financing Arrangements Unless otherwise stated, interest rates are as of June 30, 2015. June 30, 2015 December 31, 2014 Weighted Weighted Interest Carrying Fair Interest Carrying Fair (IN MILLIONS) Rate Amount Value Rate Amount Value $1,580 million Senior secured term loan (LIBOR based variable rate of 2.18% ) due 2019 1,501 1,492 1,542 1,533 $500 million Senior secured term loan (LIBOR based variable rate of 2.43% ) due 2017 495 494 497 493 $1,100 million Senior secured term loan (LIBOR based variable rate of 3.18% ) due 2021 1,089 1,093 1,094 1,088 €286 million Senior secured term loan (Euro LIBOR based variable rate of 2.93%) due 2021 316 316 345 343 $575 million senior secured revolving credit facility (Euro LIBOR or LIBOR based variable rate) due 2019 208 206 280 274 Total senior secured credit facilities (with weighted-average interest rate) 2.68 % 3,609 3,601 2.65 % 3,758 3,731 $800 million 4.50% senior debenture loan due 2020 800 800 800 801 $1,550 million 5.00% senior debenture loan due 2022 — — 1,553 1,554 $625 million 5.50% senior debenture loan due 2021 625 630 625 633 $2,300 million 5.00% senior debenture loan due 2022 2,308 2,262 — — Total debenture loans (with weighted-average interest rate) 5.22 % 3,733 3,692 5.23 % 2,978 2,988 Other loans 9 9 8 8 Total long-term debt 3.97 % 7,351 7,302 3.79 % 6,744 6,727 Capital lease and other financing obligations 122 118 Total debt and other financing arrangements 7,473 6,862 Less: Current portion of long-term debt, capital lease and other financing obligations and other short-term borrowings 331 397 Non-current portion of long-term debt and capital lease and other financing obligations $ 7,142 $ 6,465 The fair value of the Company’s long-term debt instruments was based on the yield on public debt where available or current borrowing rates available for financings with similar terms and maturities and such fair value measurements are considered Level 1 or Level 2 in nature, respectively. Annual maturities of Nielsen’s long-term debt are as follows: (IN MILLIONS) For July 1, 2015 to December 31, 2015 $ 257 2016 123 2017 642 2018 212 2019 1,041 2020 814 Thereafter 4,262 $ 7,351 In February 2015, Nielsen completed the issuance of $750 million aggregate principal amount of their 5.0% Senior Notes due 2022. The notes are traded interchangeably with the $750 million and the $800 million aggregate principal amount of 5.00% Senior Notes due 2022 issued in April 2014 and July 2014, respectively. The proceeds from the issuances have been used to make repurchases of Nielsen’s outstanding common stock from time to time, in the open market or otherwise, pursuant to Nielsen’s existing share repurchase programs, to reduce outstanding amounts under its revolving credit facility, to pay related fees and expenses, and for general corporate purposes.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Stockholders' Equity	9. Stockholders’ Equity Common stock activity is as follows: Six Months Ended June 30, 2015 Actual number of shares of common stock outstanding Beginning of period 372,757,598 Shares of common stock issued through compensation plans 1,264,951 Repurchases of common stock (7,162,579 ) End of period 366,859,970 Cumulative shares of treasury stock were 15,815,980 and 9,865,324 with a corresponding value of $685 million and $415 million as of June 30, 2015 and December 31, 2014, respectively. On January 31, 2013, the Company’s Board of Directors adopted a cash dividend policy to pay quarterly cash dividends on its outstanding common stock. The below table summarizes the dividends declared on Nielsen’s common stock during 2014 and the six months ended June 30, 2015. Declaration Date Record Date Payment Date Dividend Per Share February 20, 2014 March 6, 2014 March 20, 2014 $ 0.20 May 1, 2014 June 5, 2014 June 19, 2014 $ 0.25 July 24, 2014 August 28, 2014 September 11, 2014 $ 0.25 October 30, 2014 November 25, 2014 December 9, 2014 $ 0.25 February 19, 2015 March 5, 2015 March 19, 2015 $ 0.25 April 20, 2015 June 4, 2015 June 18, 2015 $ 0.28 The dividend policy and the payment of future cash dividends are subject to the discretion of the Company’s Board of Directors. On July 23, 2015, the Company’s Board declared a cash dividend of $0.28 per share on our common stock. The dividend is payable on September 10, 2015 to stockholders of record at the close of business on August 27, 2015. On July 25, 2013, Nielsen’s Board approved a share repurchase program for up to $500 million of its outstanding common stock. The primary purpose of the program is to mitigate dilution associated with Nielsen’s equity compensation plans. On October 23, 2014, the Company announced that its board of directors approved a new share repurchase program for up to $1 billion of Nielsen’s outstanding common stock. This is in addition to the current authorization in place since July 2013 as described above. Repurchases are made in accordance with applicable securities laws from time to time in the open market or otherwise depending on Nielsen management’s evaluation of market conditions and other factors. This program has been executed within the limitations of the existing authority granted at Nielsen’s Annual General Meetings of Shareholders held in 2014 and 2015 . Total Number of Shares Purchased as Dollar Value of Shares Total Number Average Part of Publicly that may yet be of Shares Price Paid Announced Plans Purchased under the Period Purchased per Share or Programs Plans or Programs As of December 31, 2014 11,182,983 $ 42.67 11,182,983 $ 1,022,830,101 2015 Activity January 1- 31 1,611,203 44.09 1,611,203 $ 951,797,780 February 1- 28 814,753 $ 43.90 814,753 $ 916,031,448 March 1- 31 772,189 $ 43.76 772,189 $ 882,241,498 April 1-30 1,440,798 $ 45.30 1,440,798 $ 816,973,014 May 1-31 1,222,800 $ 45.37 1,222,800 $ 761,496,406 June 1-30 1,300,836 $ 45.14 1,300,836 $ 702,774,965 Total 18,345,562 $ 43.46 18,345,562

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	10. Income Taxes The effective tax rates for the three months ended June 30, 2015 and 2014 were 43% and 50%, respectively. The tax rate for the three months ended June 30, 2015 was higher than the statutory rate as a result of the impact of tax rate differences in other jurisdictions where the Company files tax returns and the effect of global licensing activities and foreign distributions offset by the favorable impact of certain financing activities. The tax rate for the three months ended June 30, 2014 was higher than the statutory rate as a result of the impact of tax rate differences in other jurisdictions where the Company files tax returns, the effect of global licensing activities and foreign distributions, and audit settlements offset by the favorable impact of certain financing activities and release of tax contingencies. The effective tax rates for the six months ended June 30, 2015 and 2014 were 41% and 45%, respectively. The tax rate for the six months ended June 30, 2015 was higher than the statutory rate as a result of the impact of tax rate differences in other jurisdictions where the Company files tax returns, the effect of global licensing activities and foreign distributions, and audit settlements offset by the favorable impact of certain financing activities and release of tax contingencies. The tax rate for the six months ended June 30, 2014 was higher than the statutory rate as a result of the impact of tax rate differences in other jurisdictions where the Company files tax returns, the effect of global licensing activities and foreign distributions, and audit settlements offset by the favorable impact of certain financing activities and release of tax contingencies. The estimated liability for unrecognized income tax benefits as of December 31, 2015 is $457 million and was $452 million as of December 31, 2014. If the Company’s tax positions are favorably sustained by the taxing authorities, the reversal of the underlying liabilities would reduce the Company’s effective tax rate in future periods. The Company files numerous consolidated and separate income tax returns in the U.S. and in many state and foreign jurisdictions. With few exceptions the Company is no longer subject to U.S. Federal income tax examination for 2006 and prior periods. In addition, the Company has subsidiaries in various states, provinces and countries that are currently under audit for years ranging from 2003 through 2014. To date, the Company is not aware of any material adjustments not already accrued related to any of the current Federal, state or foreign audits under examination.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	11. Commitments and Contingencies Legal Proceedings and Contingencies Nielsen is subject to litigation and other claims in the ordinary course of business, some of which include claims for substantial sums. Accruals have been recorded when the outcome is probable and can be reasonably estimated. While the ultimate results of claims and litigation cannot be determined, the Company does expect that the ultimate disposition of these matters will not have a material adverse effect on its operations or financial condition. However, depending on the amount and the timing, an unfavorable resolution of some or all of these matters could materially affect the Company’s future results of operations or cash flows in a particular period.

Segments

Segments	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Segments	12. Segments The Company aligns its operating segments in order to conform to management’s internal reporting structure, which is reflective of service offerings by industry. Management aggregates such operating segments into two reporting segments: what consumers buy (“Buy”), consisting principally of market research information and analytical services; and what consumers watch (“Watch”), consisting principally of television, radio, online and mobile audience and advertising measurement and corresponding analytics. Corporate consists principally of unallocated items such as certain facilities and infrastructure costs as well as intersegment eliminations. Certain corporate costs, other than those described above, including those related to selling, finance, legal, human resources, and information technology systems, are considered operating costs and are allocated to the Company’s segments based on either the actual amount of costs incurred or on a basis consistent with the operations of the underlying segment. Information with respect to the operations of each of Nielsen’s business segments is set forth below based on the nature of the services offered and geographic areas of operations. Business Segment Information (IN MILLIONS) Buy Watch Corporate Total Three Months Ended June 30, 2015 Revenues $ 852 $ 707 $ — $ 1,559 Depreciation and amortization $ 53 $ 92 $ 1 $ 146 Restructuring charges $ 10 $ 4 $ — $ 14 Stock-based compensation expense $ 4 $ 2 $ 7 $ 13 Other items (1) $ — $ — $ 9 $ 9 Operating income/(loss) $ 95 $ 216 $ (25 ) $ 286 Business segment income/(loss) (2) $ 162 $ 314 $ (8 ) $ 468 Total assets as of June 30, 2015 $ 6,769 $ 8,422 $ 274 $ 15,465 (IN MILLIONS) Three Months Ended June 30, 2014 Revenues $ 900 $ 694 $ — $ 1,594 Depreciation and amortization $ 57 $ 87 $ 1 $ 145 Restructuring charges $ 4 $ 7 $ 2 $ 13 Stock-based compensation expense $ 3 $ 2 $ 7 $ 12 Other items (1) $ — $ 2 $ 11 $ 13 Operating income/(loss) $ 103 $ 203 $ (29 ) $ 277 Business segment income/(loss) (2) $ 167 $ 301 $ (8 ) $ 460 Total assets as of December 31, 2014 $ 6,869 $ 8,156 $ 351 $ 15,376 (IN MILLIONS) Buy Watch Corporate Total Six Months Ended June 30, 2015 Revenues $ 1,650 $ 1,367 $ — $ 3,017 Depreciation and amortization $ 106 $ 180 $ 2 $ 288 Restructuring charges $ 17 $ 8 $ 3 $ 28 Stock-based compensation expense $ 9 $ 4 $ 14 $ 27 Other items (1) $ — $ — $ 20 $ 20 Operating income/(loss) $ 140 $ 400 $ (55 ) $ 485 Business segment income/(loss) (2) $ 272 $ 592 $ (16 ) $ 848 (IN MILLIONS) Six Months Ended June 30, 2014 Revenues $ 1,737 $ 1,346 $ — $ 3,083 Depreciation and amortization $ 111 $ 173 $ 2 $ 286 Restructuring charges $ 22 $ 10 $ 5 $ 37 Stock-based compensation expense $ 9 $ 6 $ 9 $ 24 Other items (1) $ — $ 3 $ 16 $ 19 Operating income/(loss) $ 143 $ 376 $ (49 ) $ 470 Business segment income/(loss) (2) $ 285 $ 568 $ (17 ) $ 836 (1) Other items primarily consist of non-recurring costs for the three and six months ended June 30, 2015 and 2014, respectively. (2) The Company’s chief operating decision making group uses business segment income/(loss) to measure performance from period to period both at the consolidated level as well as within its operating segments.

Guarantor Financial Information

Guarantor Financial Information	6 Months Ended
	Jun. 30, 2015
Guarantees [Abstract]
Guarantor Financial Information	13. Guarantor Financial Information The following supplemental financial information is being provided for purposes of compliance with reporting covenants contained in certain debt obligations of Nielsen and its subsidiaries. The financial information sets forth for Nielsen, its subsidiaries that have issued certain debt securities (the “Issuers”) and its guarantor and non-guarantor subsidiaries, the consolidating balance sheet as of June 30, 2015 and December 31, 2014 and consolidating statements of operations and cash flows for the periods ended June 30, 2015 and 2014. The issued debt securities are jointly and severally guaranteed on a full and unconditional basis by Nielsen and subject to certain exceptions, each of the direct and indirect 100% owned subsidiaries of Nielsen, in each case to the extent that such entities provide a guarantee under the senior secured credit facilities. The issuers are also 100% owned indirect subsidiaries of Nielsen: Nielsen Finance LLC and Nielsen Finance Co. for certain series of debt obligations, and The Nielsen Company (Luxembourg) S ar l., for the other series of debt obligations. Each issuer is a guarantor of the debt obligations not issued by it. Nielsen is a holding company and does not have any material assets or operations other than ownership of the capital stock of its direct and indirect subsidiaries. All of Nielsen’s operations are conducted through its subsidiaries, and, therefore, Nielsen is expected to continue to be dependent upon the cash flows of its subsidiaries to meet its obligations. The senior secured credit facilities contain certain limitations on the ability of Nielsen to receive the cash flows of its subsidiaries. While all subsidiary guarantees of the issued debt securities are full and unconditional, these guarantees contain customary release provisions including when (i) the subsidiary is sold or sells all of its assets, (ii) the subsidiary is declared “unrestricted” for covenant purposes, (iii) the subsidiary’s guarantee under the senior secured credit facilities is released and (iv) the requirements for discharge of the indenture have been satisfied. Nielsen N.V. Condensed Consolidating Statement of Comprehensive Income (Unaudited) For the three months ended June 30, 2015 (IN MILLIONS) Parent Issuers Guarantor Non- Elimination Consolidated Revenues $ — $ — $ 899 $ 660 $ — $ 1,559 Cost of revenues, exclusive of depreciation and amortization shown separately below — — 320 328 — 648 Selling, general and administrative expenses, exclusive of depreciation and amortization shown separately below 2 — 249 214 — 465 Depreciation and amortization — — 120 26 — 146 Restructuring charges — — 8 6 — 14 Operating (loss)/income (2 ) — 202 86 — 286 Interest income — 217 9 2 (227 ) 1 Interest expense — (75 ) (220 ) (11 ) 227 (79 ) Foreign currency exchange transaction losses, net — — — (6 ) — (6 ) Other income/(expense), net — — 99 (99 ) — — (Loss)/income from continuing operations before income taxes and equity in net income of subsidiaries and affiliates (2 ) 142 90 (28 ) — 202 (Provision)/benefit for income taxes — (50 ) (49 ) 13 — (86 ) Equity in net income of subsidiaries 116 20 75 129 (340 ) — Net income 114 112 116 114 (340 ) 116 Less net income attributable to noncontrolling interests — — — 2 — 2 Net income attributable to controlling interest 114 112 116 112 (340 ) 114 Total other comprehensive income 42 45 42 46 (134 ) 41 Total other comprehensive loss attributable to noncontrolling interests — — — (1 ) — (1 ) Total other comprehensive income attributable to controlling interests 42 45 42 47 (134 ) 42 Total comprehensive income 156 157 158 160 (474 ) 157 Comprehensive income attributable to noncontrolling interests — — — 1 — 1 Total comprehensive income attributable to controlling interest $ 156 157 158 159 (474 ) 156 Nielsen N.V. Condensed Consolidating Statement of Comprehensive Income (Unaudited) For the three months ended June 30, 2014 (IN MILLIONS) Parent Issuers Guarantor Non- Elimination Consolidated Revenues $ — $ — $ 851 $ 743 $ — $ 1,594 Cost of revenues, exclusive of depreciation and amortization shown separately below — — 329 348 — 677 Selling, general and administrative expenses, exclusive of depreciation and amortization shown separately below 1 — 239 242 — 482 Depreciation and amortization — — 115 30 — 145 Restructuring charges — — 12 1 — 13 Operating (loss)/income (1 ) — 156 122 — 277 Interest income — 213 11 3 (226 ) 1 Interest expense — (74 ) (217 ) (13 ) 226 (78 ) Foreign currency exchange transaction losses, net — — (1 ) (5 ) — (6 ) Other (expense)/income, net — (45 ) 158 (158 ) — (45 ) (Loss)/income from continuing operations before income taxes and equity in net income of subsidiaries and affiliates (1 ) 94 107 (51 ) — 149 Benefit/(provision) for income taxes 1 (10 ) (68 ) 3 — (74 ) Equity in net income of subsidiaries 74 196 35 125 (430 ) — Equity in net income of affiliates — — — 1 — 1 Net income 74 280 74 78 (430 ) 76 Less net income attributable to noncontrolling interests — — — 2 — 2 Net income attributable to controlling interest 74 280 74 76 (430 ) 74 Total other comprehensive income 41 34 41 34 (109 ) 41 Total comprehensive income 115 314 115 112 (539 ) 117 Comprehensive income attributable to noncontrolling interests — — — 2 — 2 Total comprehensive income attributable to controlling interest $ 115 314 115 110 (539 ) 115 Nielsen N.V. Condensed Consolidated Statement of Comprehensive Income (Unaudited) For the six months ended June 30, 2015 (IN MILLIONS) Parent Issuer Guarantor Non- Elimination Consolidated Revenues $ — $ — $ 1,745 $ 1,272 $ — $ 3,017 Cost of revenues, exclusive of depreciation and amortization shown separately below — — 632 638 — 1,270 Selling, general and administrative expenses, exclusive of depreciation and amortization shown 3 — 507 436 — 946 Depreciation and amortization — — 233 55 — 288 Restructuring charges — — 19 9 — 28 Operating (loss)/income (3 ) — 354 134 — 485 Interest income — 437 20 3 (458 ) 2 Interest expense — (143 ) (444 ) (23 ) 458 (152 ) Foreign currency exchange transaction losses, net — — (11 ) (21 ) — (32 ) Other income/(expense), net — — 91 (91 ) — — (Loss)/income from continuing operations before income taxes and equity in net income of subsidiaries and affiliates (3 ) 294 10 2 — 303 Provision for income taxes — (103 ) (14 ) (7 ) — (124 ) Equity in net income of subsidiaries 180 5 184 197 (566 ) — Net income 177 196 180 192 (566 ) 179 Less net income attributable to noncontrolling — — — 2 — 2 Net income attributable to controlling interest 177 196 180 190 (566 ) 177 Total other comprehensive loss (121 ) (118 ) (121 ) (122 ) 357 (125 ) Total other comprehensive loss attributable to noncontrolling interests — — — (4 ) — (4 ) Total other comprehensive loss attributable to controlling interests (121 ) (118 ) (121 ) (118 ) 357 (121 ) Total comprehensive income 56 78 59 70 (209 ) 54 Comprehensive loss attributable to noncontrolling interests — — — (2 ) — (2 ) Total comprehensive income attributable to controlling interests $ 56 78 59 72 (209 ) 56 Nielsen N.V. Condensed Consolidated Statement of Comprehensive Income (Unaudited) For the six months ended June 30, 2014 (IN MILLIONS) Parent Issuer Guarantor Non- Elimination Consolidated Revenues $ — $ — $ 1,654 $ 1,429 $ — $ 3,083 Cost of revenues, exclusive of depreciation and amortization shown separately below — — 636 683 — 1,319 Selling, general and administrative expenses, exclusive of depreciation and amortization shown 1 — 487 483 — 971 Depreciation and amortization — — 225 61 — 286 Restructuring charges — — 24 13 — 37 Operating (loss)/income (1 ) — 282 189 — 470 Interest income — 421 23 5 (447 ) 2 Interest expense — (147 ) (430 ) (25 ) 447 (155 ) Foreign currency exchange transaction losses, net — — — (33 ) — (33 ) Other (expense)/income, net — (45 ) 148 (151 ) — (48 ) (Loss)/income from continuing operations before income taxes and equity in net income/(loss) of subsidiaries and affiliates (1 ) 229 23 (15 ) — 236 Benefit/(provision) for income taxes 5 (57 ) (47 ) (8 ) — (107 ) Equity in net income of subsidiaries 128 160 153 147 (588 ) — Equity in net (loss)/income of affiliates — — (1 ) 3 — 2 Net income 132 332 128 127 (588 ) 131 Less net loss attributable to noncontrolling — — — (1 ) — (1 ) Net income attributable to controlling interest 132 332 128 128 (588 ) 132 Total other comprehensive income 38 22 38 22 (82 ) 38 Total comprehensive income 170 354 166 149 (670 ) 169 Comprehensive loss attributable to noncontrolling interests — — — (1 ) — (1 ) Total comprehensive income attributable to controlling interest $ 170 354 166 150 (670 ) 170 Nielsen N.V. Condensed Consolidating Balance Sheet (Unaudited) June 30, 2015 (IN MILLIONS) Parent Issuers Guarantor Non- Elimination Consolidated Assets: Current assets Cash and cash equivalents $ 29 — 40 262 — 331 Trade and other receivables, net — — 536 691 — 1,227 Prepaid expenses and other current assets — 9 381 166 — 556 Intercompany receivables 1 411 299 126 (837 ) — Total current assets 30 420 1,256 1,245 (837 ) 2,114 Non-current assets Property, plant and equipment, net — — 332 176 — 508 Goodwill — — 5,724 1,966 — 7,690 Other intangible assets, net — — 4,351 351 — 4,702 Deferred tax assets 1 — 24 45 — 70 Other non-current assets — 48 207 126 — 381 Equity investment in subsidiaries 4,711 1,457 6,111 2,934 (15,213 ) — Intercompany loans — 10,835 530 187 (11,552 ) — Total assets $ 4,742 $ 12,760 $ 18,535 $ 7,030 $ (27,602 ) $ 15,465 Liabilities and equity: Current liabilities Accounts payable and other current liabilities $ 13 $ 52 $ 314 $ 452 $ — $ 831 Deferred revenues — — 186 146 — 332 Income tax liabilities — — 90 49 — 139 Current portion of long-term debt, capital lease obligations and short-term borrowings — 98 232 1 — 331 Intercompany payables 15 124 523 175 (837 ) — Total current liabilities 28 274 1,345 823 (837 ) 1,633 Non-current liabilities Long-term debt and capital lease obligations — 7,036 85 21 — 7,142 Deferred tax liabilities — 74 878 65 — 1,017 Intercompany loans 35 61 10,952 504 (11,552 ) — Other non-current liabilities 2 4 564 351 — 921 Total liabilities 65 7,449 13,824 1,764 (12,389 ) 10,713 Total stockholders’ equity 4,677 5,311 4,711 5,191 (15,213 ) 4,677 Noncontrolling interests — — — 75 — 75 Total equity 4,677 5,311 4,711 5,266 (15,213 ) 4,752 Total liabilities and equity $ 4,742 $ 12,760 $ 18,535 $ 7,030 $ (27,602 ) $ 15,465 Nielsen N.V. Condensed Consolidating Balance Sheet December 31, 2014 (IN MILLIONS) Parent Issuers Guarantor Non-Guarantor Elimination Consolidated Assets: Current assets Cash and cash equivalents $ 49 $ 1 $ (51 ) $ 274 $ — $ 273 Trade and other receivables, net 1 — 526 714 — 1,241 Prepaid expenses and other current assets — 8 339 158 — 505 Intercompany receivables 1 228 141 190 (560 ) — Total current assets 51 237 955 1,336 (560 ) 2,019 Non-current assets — Property, plant and equipment, net — — 335 198 — 533 Goodwill — — 5,588 2,083 — 7,671 Other intangible assets, net — — 4,318 397 — 4,715 Deferred tax assets 1 — 25 57 — 83 Other non-current assets — 44 171 140 — 355 Equity investment in subsidiaries 5,017 1,124 6,548 2,795 (15,484 ) — Intercompany receivables — 10,493 560 191 (11,244 ) — Total assets $ 5,069 $ 11,898 $ 18,500 $ 7,197 $ (27,288 ) $ 15,376 Liabilities and equity: Current liabilities Accounts payable and other current liabilities $ 10 $ 44 $ 418 $ 563 $ — $ 1,035 Deferred revenues — — 159 145 — 304 Income tax liabilities 1 — 18 43 — 62 Current portion of long-term debt, capital lease obligations and short-term borrowings — 98 298 1 — 397 Intercompany payables — — 428 132 (560 ) — Total current liabilities 11 142 1,321 884 (560 ) 1,798 Non-current liabilities Long-term debt and capital lease obligations — 6,358 87 20 — 6,465 Deferred tax liabilities — 74 895 56 — 1,025 Intercompany loans — 61 10,613 570 (11,244 ) — Other non-current liabilities 2 2 567 384 — 955 Total liabilities 13 6,637 13,483 1,914 (11,804 ) 10,243 Total stockholders’ equity 5,056 5,261 5,017 5,206 (15,484 ) 5,056 Noncontrolling interests — — — 77 — 77 Total equity 5,056 5,261 5,017 5,283 (15,484 ) 5,133 Total liabilities and equity $ 5,069 $ 11,898 $ 18,500 $ 7,197 $ (27,288 ) $ 15,376 Nielsen N.V. Condensed Consolidating Statement of Cash Flows (Unaudited) For the six months ended June 30, 2015 (IN MILLIONS) Parent Issuers Guarantor Non- Consolidated Net cash provided by operating activities $ — $ 258 $ 46 $ 22 $ 326 Investing activities: Acquisition of subsidiaries and affiliates, — — (196 ) (1 ) (197 ) Additions to property, plant and equipment and — — (49 ) (20 ) (69 ) Additions to intangible assets — — (117 ) (13 ) (130 ) Other investing activities — — 3 — 3 Net cash used in investing activities — — (359 ) (34 ) (393 ) Financing activities: Net borrowings under revolving credit facility — — (72 ) — (72 ) Repayments of debt — (49 ) — — (49 ) Proceeds from the issuance of debt, net of issuance costs 746 746 Cash dividends paid to stockholders (192 ) — — — (192 ) Repurchase of common stock (320 ) — — — (320 ) Activity under stock plans 28 — (2 ) — 26 Excess tax benefits from stock-based compensation — — 28 — 28 Settlement of intercompany and other financing activities 464 (956 ) 453 27 (12 ) Net cash (used in)/provided by financing activities (20 ) (259 ) 407 27 155 Effect of exchange-rate changes on cash — — (3 ) (27 ) (30 ) Net (decrease)/increase in cash and cash equivalents (20 ) (1 ) 91 (12 ) 58 Cash and cash equivalents at beginning of period 49 1 (51 ) 274 273 Cash and cash equivalents at end of period $ 29 $ — $ 40 $ 262 $ 331 Nielsen N.V. Condensed Consolidated Statement of Cash Flows (Unaudited) For the six months ended June 30, 2014 (IN MILLIONS) Parent Issuers Guarantor Non- Consolidated Net cash provided by/(used in) operating activities $ 1 $ 299 $ (17 ) $ 17 $ 300 Investing activities: Acquisition of subsidiaries and affiliates, — — (118 ) (74 ) (192 ) Additions to property, plant and equipment and — — (38 ) (16 ) (54 ) Additions to intangible assets — — (106 ) (11 ) (117 ) Other investing activities 9 — (9 ) — — Net cash provided by/(used in) investing activities 9 — (271 ) (101 ) (363 ) Financing activities: Net borrowings under revolving credit facility — — 25 — 25 Repayments of debt — (3,747 ) — (1 ) (3,748 ) Proceeds from the issuance of debt, net of issuance costs — 3,748 — — 3,748 Cash dividends paid to stockholders (167 ) — — — (167 ) Repurchase of common stock (48 ) — — — (48 ) Activity under stock plans 60 (3 ) 57 Settlement of intercompany and other financing activities 154 (300 ) 79 26 (41 ) Net cash (used in)/provided by financing activities (1 ) (299 ) 104 22 (174 ) Effect of exchange-rate changes on cash — — — (17 ) (17 ) Net increase/(decrease) in cash and cash equivalents 9 — (184 ) (79 ) (254 ) Cash and cash equivalents at beginning of period 12 — 205 347 564 Cash and cash equivalents at end of period $ 21 $ — $ 21 $ 268 $ 310

Background and Basis of Prese21

Background and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements are unaudited but, in the opinion of management, contain all the adjustments (consisting of those of a normal recurring nature) considered necessary to present fairly the Company’s financial position and the results of operations and cash flows for the periods presented in conformity with accounting principles generally accepted in the U.S. (“U.S. GAAP”) applicable to interim periods. For a more complete discussion of significant accounting policies, commitments and contingencies and certain other information, refer to the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014. All amounts are presented in U.S. Dollars (“$”), except for share data or where expressly stated as being in other currencies, e.g., Euros (“€”). The condensed consolidated financial statements include the accounts of Nielsen and all subsidiaries and other controlled entities. The Company has evaluated events occurring subsequent to June 30, 2015 for potential recognition or disclosure in the condensed consolidated financial statements and concluded there were no subsequent events that required recognition or disclosure other than those provided.
Earnings per Share	Earnings per Share Basic net income per share is computed using the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share is computed using the weighted-average number of shares of common stock and dilutive potential shares of common stock outstanding during the period. Dilutive potential shares of common stock consist of employee stock options and restricted stock. The effect of 2,349,596 and 81,000 shares of common stock equivalents under stock compensation plans were excluded from the calculation of diluted earnings per share for the three months ended June 30, 2015 and 2014, respectively, as such shares would have been anti-dilutive. The effect of 2,383,850 and 81,000 shares of common stock equivalents under stock compensation plans were excluded from the calculation of diluted earnings per share for the six months ended June 30, 2015 and 2014, respectively, as such shares would have been anti-dilutive.
Devaluation of Venezuelan Currency	D evaluation of Venezuelan Currency Nielsen has operations in both the Buy and Watch segments in Venezuela and the functional currency for these operations was the Venezuelan Bolivares Fuertes. Venezuela’s currency has been considered hyperinflationary since January 1, 2010 and, accordingly, the local currency transactions have been denominated in U.S. dollars since January 1, 2010 and will continue to be until Venezuela’s currency is deemed to be non-hyperinflationary. During the period between the first quarter of 2013 through the second quarter of 2015, there have been a number of changes in the foreign exchange regime in Venezuela that have impacted the conversion rates used by the Company for the conversion of Venezuelan Bolivares Fuertes into U.S. Dollars in its financial statements, resulting in foreign currency exchange transaction losses in the condensed consolidated statement of operations, reflecting the write-down of monetary assets and liabilities in our Venezuelan operations. In February 2013, the official exchange rate was moved from 4.30 to 6.30 and the regulated System of Transactions with Securities in Foreign Currency market was suspended. Based on facts and circumstances present at March 31, 2014, Nielsen began using the exchange rate determined by periodic auctions for U.S. dollars conducted under Venezuela’s Complementary System of Foreign Currency Administration (“SICAD I”) as the SICAD I exchange rate represented what was the most realistic official exchange rate at which to remeasure the U.S. dollar value of the bolivar-denominated monetary assets and liabilities of Nielsen’s Venezuelan operations at that time. At March 31, 2014, the SICAD I exchange rate was 10.8 bolivars to the U.S. dollar. As a result of this change, Nielsen recorded a pre-tax charge of $20 million during the first quarter of 2014. Due to the lack of access to the SICAD I auction system throughout the remainder of 2014, as of December 31, 2014 the Company decided it was more likely that it would be able to gain access to U.S. dollars through the SICAD II mechanism to settle transactions conducted by the Company in Venezuela as SICAD II was created to provide a more open mechanism that was designed to permit any company to request U.S. dollars for any purpose. At December 31, 2014, the SICAD II exchange rate was 50.0 bolivars to the U.S. dollar. As a result of the changes in exchange rate assumptions in the fourth quarter 2014, Nielsen recorded a pre-tax charge of $32 million, for a total of $52 million for the year ended December 31, 2014. On February 12, 2015, the Venezuelan government replaced SICAD II with a new foreign exchange market mechanism (“SIMADI”). Nielsen currently expects to be able to access U.S. dollars through the SIMADI market. SIMADI has significantly higher foreign exchange rates than those available through the other foreign exchange mechanisms. At June 30, 2015, the SIMADI exchange rate was 197.0 bolivars to the U.S. dollar. As a result of this change, Nielsen recorded a pre-tax charge of $8 million during the six months ended June 30, 2015. The Company will continue to assess the appropriate conversion rate based on events in Venezuela and the Company’s specific facts and circumstances. Total net monetary assets in U.S. dollars at the June 30, 2015 SIMADI rate totaled $3 million.
Consolidation	Consolidation In
Debt Issuance Costs	Debt Issuance Costs In April 2015, the FASB issued an ASU, “Simplifying the Presentation of Debt Issuance Costs”. The new standard changes the presentation of debt issuance costs in financial statements. Under the ASU, an entity will present such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs is reported as interest expense. This guidance will be effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2015; however, early adoption is permitted. Nielsen is currently assessing the impact of the adoption of this ASU will have on the Company’s condensed consolidated financial statements.
Revenue Recognition	Revenue Recognition In May 2014, the FASB issued an ASU, “Revenue from Contracts with Customers”. The new revenue recognition standard provides a five step analysis of transactions to determine when and how revenue is recognized. The new model will require revenue recognition to depict the transfer of promised goods or services to customers in an amount that reflects the consideration a company expects to receive in exchange for those goods or services and shall be applied retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. The FASB has approved a one year deferral of this standard and is now effective for annual periods beginning after December 15, 2017. Nielsen is currently assessing the impact of the adoption of this ASU will have on our condensed consolidated financial statements.

Goodwill and Other Intangible22

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
Summary of Changes in Carrying Amount of Goodwill	The table below summarizes the changes in the carrying amount of goodwill by reportable segment for the six months ended June 30, 2015. (IN MILLIONS) Buy Watch Total Balance, December 31, 2014 $ 3,014 $ 4,657 $ 7,671 Acquisitions, divestitures and other adjustments 5 142 147 Effect of foreign currency translation (113 ) (15 ) (128 ) Balance, June 30, 2015 $ 2,906 $ 4,784 $ 7,690
Other Intangible Assets	Gross Amounts Accumulated Amortization June 30, December 31, June 30, December 31, (IN MILLIONS) 2015 2014 2015 2014 Indefinite-lived intangibles: Trade names and trademarks $ 1,921 $ 1,921 — — Amortized intangibles: Trade names and trademarks 167 166 (77 ) (68 ) Customer-related intangibles 2,972 2,938 (1,136 ) (1,054 ) Covenants-not-to-compete 38 36 (34 ) (30 ) Computer software 2,091 1,935 (1,264 ) (1,157 ) Patents and other 105 105 (81 ) (77 ) Total $ 5,373 $ 5,180 $ (2,592 ) $ (2,386 )

Changes in and Reclassificati23

Changes in and Reclassification out of Accumulated Other Comprehensive Loss by Component (Tables)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Summary of Changes in Accumulated Other Comprehensive Loss, Net of Tax by Component	The table below summarizes the changes in accumulated other comprehensive loss, net of tax, by component for the six months ended June 30, 2015 and 2014. Currency Available- Translation for-Sale Post Employment Adjustments Securities Cash Flow Hedges Benefits Total (IN MILLIONS) Balance December 31, 2014 $ (418 ) $ 19 $ (2 ) $ (376 ) $ (777 ) Other comprehensive (loss)/income before reclassifications (137 ) 4 (6 ) — (139 ) Amounts reclassified from accumulated other comprehensive loss — — 4 10 14 Net current period other comprehensive (loss)/income (137 ) 4 (2 ) 10 (125 ) Net current period other comprehensive loss attributable to noncontrolling interest (4 ) — — — (4 ) Net current period other comprehensive (loss)/income attributable to Nielsen stockholders (133 ) 4 (2 ) 10 (121 ) Balance June 30, 2015 $ (551 ) $ 23 $ (4 ) $ (366 ) $ (898 ) Currency Available- Translation for-Sale Post Employment Adjustments Securities Cash Flow Hedges Benefits Total (IN MILLIONS) Balance December 31, 2013 $ (124 ) $ 9 $ (5 ) $ (267 ) $ (387 ) Other comprehensive income/(loss) before reclassifications 33 4 (6 ) (2 ) 29 Amounts reclassified from accumulated other comprehensive loss — — 5 4 9 Net current period other comprehensive income/(loss) attributable to Nielsen stockholders 33 4 (1 ) 2 38 Balance June 30, 2014 $ (91 ) $ 13 $ (6 ) $ (265 ) $ (349 )
Summary of Reclassification of Accumulated Other Comprehensive Loss by Component	The table below summarizes the reclassification of accumulated other comprehensive loss by component for the three months ended June 30, 2015 and 2014, respectively. Amount Reclassified from Accumulated Other (IN MILLIONS) Comprehensive Loss Details about Accumulated Affected Line Item in the Other Comprehensive Three Months Ended Three Months Ended Condensed Consolidated Income components June 30, 2015 June 30, 2014 Statement of Operations Cash flow hedges Interest rate contracts $ 3 $ 4 Interest expense 1 1 Benefit for income taxes $ 2 $ 3 Total, net of tax Amortization of Post-Employment Benefits Actuarial loss $ 6 $ 3 (a) 1 1 Benefit for income taxes $ 5 $ 2 Total, net of tax Total reclassification for the period $ 7 $ 5 Net of tax (a) This accumulated other comprehensive loss component is included in the computation of net periodic pension cost. The table below summarizes the reclassification of accumulated other comprehensive loss by component for the six months ended June 30, 2015 and 2014, respectively. Amount Reclassified from Accumulated Other (IN MILLIONS) Comprehensive Loss Details about Accumulated Affected Line Item in the Other Comprehensive Six Months Ended Six Months Ended Condensed Consolidated Income components June 30, 2015 June 30, 2014 Statement of Operations Cash flow hedges Interest rate contracts $ 6 $ 8 Interest expense 2 3 Benefit for income taxes $ 4 $ 5 Total, net of tax Amortization of Post-Employment Benefits Actuarial loss $ 12 $ 6 (a) 2 2 Benefit for income taxes $ 10 $ 4 Total, net of tax Total reclassification for the period $ 14 $ 9 Net of tax (a) This accumulated other comprehensive loss component is included in the computation of net periodic pension cost.

Restructuring Activities (Table

Restructuring Activities (Tables)	6 Months Ended
	Jun. 30, 2015
Restructuring And Related Activities [Abstract]
Summary of Changes in Liabilities for Restructuring Activities	A summary of the changes in the liabilities for restructuring activities is provided below: Total (IN MILLIONS) Initiatives Balance at December 31, 2014 $ 72 Charges 28 Payments (48 ) Effect of foreign currency translation and reclassification adjustments (3 ) Balance at June 30, 2015 $ 49

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Measured on Recurring Basis	The following table summarizes the valuation of the Company’s material financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2015 and December 31, 2014: June 30, (IN MILLIONS) 2015 Level 1 Level 2 Level 3 Assets: Investments in equity securities (1) $ 52 $ 52 — — Plan assets for deferred compensation (2) 31 31 — — Investment in mutual funds (3) 2 2 — — Interest rate swap arrangements (4) 1 — 1 — Total $ 86 $ 85 $ 1 — Liabilities: Interest rate swap arrangements (4) $ 9 — $ 9 — Deferred compensation liabilities (5) 31 31 — — Total $ 40 $ 31 $ 9 — December 31, 2014 Level 1 Level 2 Level 3 Assets: Investments in equity securities (1) $ 45 $ 45 — — Plan assets for deferred compensation (2) 28 28 — — Investment in mutual funds (3) 2 2 — — Interest rate swap arrangements (4) 1 — 1 — Total $ 76 $ 75 1 — Liabilities: Interest rate swap arrangements (4) $ 6 — $ 6 — Deferred compensation liabilities (5) 28 28 — — Total $ 34 $ 28 $ 6 — (1) Investments in equity securities are carried at fair value, which is based on the quoted market price at period end in an active market. These investments are classified as available-for-sale with any unrealized gains or losses resulting from changes in fair value recorded, net of tax, as a component of accumulated other comprehensive income/(loss) until realized. Nielsen assesses declines in the value of individual investments to determine whether such decline is other than temporary and thus the investment is impaired by considering available evidence. No impairment charge was recorded for these available-for-sale securities during the six months ended June 30, 2015 and the year ended December 31, 2014. (2) Plan assets are comprised of investments in mutual funds, which are intended to fund liabilities arising from deferred compensation plans. These investments are carried at fair value, which is based on quoted market prices at period end in active markets. These investments are classified as trading securities with any gains or losses resulting from changes in fair value recorded in other expense, net. (3) Investments in mutual funds are money-market accounts held with the intention of funding certain specific retirement plans. (4) Derivative financial instruments include interest rate swap arrangements recorded at fair value based on externally-developed valuation models that use readily observable market parameters and the consideration of counterparty risk. (5) The Company offers certain employees the opportunity to participate in a deferred compensation plan. A participant’s deferrals are invested in a variety of participant directed stock and bond mutual funds and are classified as trading securities. Changes in the fair value of these securities are measured using quoted prices in active markets based on the market price per unit multiplied by the number of units held exclusive of any transaction costs. A corresponding adjustment for changes in fair value of the trading securities is also reflected in the changes in fair value of the deferred compensation obligation.
Outstanding Interest Rate Swaps	As of June 30, 2015 the Company had the following outstanding interest rate swaps utilized in the management of its interest rate risk: Notional Amount Maturity Date Currency Interest rate swaps designated as hedging instruments US Dollar term loan floating-to-fixed rate swaps $ 250,000,000 September 2015 US Dollar US Dollar term loan floating-to-fixed rate swaps $ 125,000,000 November 2015 US Dollar Euro term loan floating-to-fixed rate swaps € 125,000,000 November 2015 Euro US Dollar term loan floating-to-fixed rate swaps $ 1,575,000,000 May 2016 US Dollar US Dollar term loan floating-to-fixed rate swaps $ 500,000,000 November 2016 US Dollar US Dollar term loan floating-to-fixed rate swaps $ 250,000,000 September 2017 US Dollar US Dollar term loan floating-to-fixed rate swaps $ 250,000,000 May 2018 US Dollar US Dollar term loan floating-to-fixed rate swaps $ 150,000,000 April 2019 US Dollar
Fair Values of Derivative Instruments in Consolidated Balance Sheets	The fair values of the Company’s derivative instruments as of June 30, 2015 and December 31, 2014 were as follows: June 30, 2015 December 31, 2014 Accounts Payable Accounts Payable Derivatives Designated as Hedging Instruments Other Non-Current and Other Current Other Non-Current Other Non-Current and Other Current Other Non-Current (IN MILLIONS) Assets Liabilities Liabilities Assets Liabilities Liabilities Interest rate swaps $ 1 $ 5 $ 4 $ 1 $ 4 $ 2
Derivatives in Cash Flow Hedging Relationships	The pre-tax effect of derivative instruments in cash flow hedging relationships for the three months ended June 30, 2015 and 2014 was as follows: Amount of Loss Amount of Loss Reclassified from AOCI Recognized in OCI Location of Loss into Income (Effective Portion) Reclassified from AOCI (Effective Portion) Derivatives in Cash Flow Three Months Ended into Income (Effective Three Months Ended Hedging Relationships June 30, Portion) June 30, (IN MILLIONS) 2015 2014 2015 2014 Interest rate swaps $ 2 $ 5 Interest expense $ 3 $ 4 The pre-tax effect of derivative instruments in cash flow hedging relationships for the six months ended June 30, 2015 and 2014 was as follows: Amount of Loss Amount of Loss Reclassified from AOCI Recognized in OCI Location of Loss into Income (Effective Portion) Reclassified from AOCI (Effective Portion) Derivatives in Cash Flow Six Months Ended into Income (Effective Six Months Ended Hedging Relationships June 30, Portion) June 30, (IN MILLIONS) 2015 2014 2015 2014 Interest rate swaps $ 10 $ 9 Interest expense $ 6 $ 8

Long-term Debt and Other Fina26

Long-term Debt and Other Financing Arrangements (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Summary of Long-Term Debt	Unless otherwise stated, interest rates are as of June 30, 2015. June 30, 2015 December 31, 2014 Weighted Weighted Interest Carrying Fair Interest Carrying Fair (IN MILLIONS) Rate Amount Value Rate Amount Value $1,580 million Senior secured term loan (LIBOR based variable rate of 2.18% ) due 2019 1,501 1,492 1,542 1,533 $500 million Senior secured term loan (LIBOR based variable rate of 2.43% ) due 2017 495 494 497 493 $1,100 million Senior secured term loan (LIBOR based variable rate of 3.18% ) due 2021 1,089 1,093 1,094 1,088 €286 million Senior secured term loan (Euro LIBOR based variable rate of 2.93%) due 2021 316 316 345 343 $575 million senior secured revolving credit facility (Euro LIBOR or LIBOR based variable rate) due 2019 208 206 280 274 Total senior secured credit facilities (with weighted-average interest rate) 2.68 % 3,609 3,601 2.65 % 3,758 3,731 $800 million 4.50% senior debenture loan due 2020 800 800 800 801 $1,550 million 5.00% senior debenture loan due 2022 — — 1,553 1,554 $625 million 5.50% senior debenture loan due 2021 625 630 625 633 $2,300 million 5.00% senior debenture loan due 2022 2,308 2,262 — — Total debenture loans (with weighted-average interest rate) 5.22 % 3,733 3,692 5.23 % 2,978 2,988 Other loans 9 9 8 8 Total long-term debt 3.97 % 7,351 7,302 3.79 % 6,744 6,727 Capital lease and other financing obligations 122 118 Total debt and other financing arrangements 7,473 6,862 Less: Current portion of long-term debt, capital lease and other financing obligations and other short-term borrowings 331 397 Non-current portion of long-term debt and capital lease and other financing obligations $ 7,142 $ 6,465
Annual Maturities of Long-Term Debt	Annual maturities of Nielsen’s long-term debt are as follows: (IN MILLIONS) For July 1, 2015 to December 31, 2015 $ 257 2016 123 2017 642 2018 212 2019 1,041 2020 814 Thereafter 4,262 $ 7,351

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Common Stock Activity	Common stock activity is as follows: Six Months Ended June 30, 2015 Actual number of shares of common stock outstanding Beginning of period 372,757,598 Shares of common stock issued through compensation plans 1,264,951 Repurchases of common stock (7,162,579 ) End of period 366,859,970
Summary of Dividends Declared on Nielsen's Common Stock	The below table summarizes the dividends declared on Nielsen’s common stock during 2014 and the six months ended June 30, 2015. Declaration Date Record Date Payment Date Dividend Per Share February 20, 2014 March 6, 2014 March 20, 2014 $ 0.20 May 1, 2014 June 5, 2014 June 19, 2014 $ 0.25 July 24, 2014 August 28, 2014 September 11, 2014 $ 0.25 October 30, 2014 November 25, 2014 December 9, 2014 $ 0.25 February 19, 2015 March 5, 2015 March 19, 2015 $ 0.25 April 20, 2015 June 4, 2015 June 18, 2015 $ 0.28
Summary of Open Market Share Repurchases Activity	The activity during the three months ended June 30, 2015 consisted of open market share repurchases and is summarized in the following table: Total Number of Shares Purchased as Dollar Value of Shares Total Number Average Part of Publicly that may yet be of Shares Price Paid Announced Plans Purchased under the Period Purchased per Share or Programs Plans or Programs As of December 31, 2014 11,182,983 $ 42.67 11,182,983 $ 1,022,830,101 2015 Activity January 1- 31 1,611,203 44.09 1,611,203 $ 951,797,780 February 1- 28 814,753 $ 43.90 814,753 $ 916,031,448 March 1- 31 772,189 $ 43.76 772,189 $ 882,241,498 April 1-30 1,440,798 $ 45.30 1,440,798 $ 816,973,014 May 1-31 1,222,800 $ 45.37 1,222,800 $ 761,496,406 June 1-30 1,300,836 $ 45.14 1,300,836 $ 702,774,965 Total 18,345,562 $ 43.46 18,345,562

Segments (Tables)

Segments (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information (IN MILLIONS) Buy Watch Corporate Total Three Months Ended June 30, 2015 Revenues $ 852 $ 707 $ — $ 1,559 Depreciation and amortization $ 53 $ 92 $ 1 $ 146 Restructuring charges $ 10 $ 4 $ — $ 14 Stock-based compensation expense $ 4 $ 2 $ 7 $ 13 Other items (1) $ — $ — $ 9 $ 9 Operating income/(loss) $ 95 $ 216 $ (25 ) $ 286 Business segment income/(loss) (2) $ 162 $ 314 $ (8 ) $ 468 Total assets as of June 30, 2015 $ 6,769 $ 8,422 $ 274 $ 15,465 (IN MILLIONS) Three Months Ended June 30, 2014 Revenues $ 900 $ 694 $ — $ 1,594 Depreciation and amortization $ 57 $ 87 $ 1 $ 145 Restructuring charges $ 4 $ 7 $ 2 $ 13 Stock-based compensation expense $ 3 $ 2 $ 7 $ 12 Other items (1) $ — $ 2 $ 11 $ 13 Operating income/(loss) $ 103 $ 203 $ (29 ) $ 277 Business segment income/(loss) (2) $ 167 $ 301 $ (8 ) $ 460 Total assets as of December 31, 2014 $ 6,869 $ 8,156 $ 351 $ 15,376 (IN MILLIONS) Buy Watch Corporate Total Six Months Ended June 30, 2015 Revenues $ 1,650 $ 1,367 $ — $ 3,017 Depreciation and amortization $ 106 $ 180 $ 2 $ 288 Restructuring charges $ 17 $ 8 $ 3 $ 28 Stock-based compensation expense $ 9 $ 4 $ 14 $ 27 Other items (1) $ — $ — $ 20 $ 20 Operating income/(loss) $ 140 $ 400 $ (55 ) $ 485 Business segment income/(loss) (2) $ 272 $ 592 $ (16 ) $ 848 (IN MILLIONS) Six Months Ended June 30, 2014 Revenues $ 1,737 $ 1,346 $ — $ 3,083 Depreciation and amortization $ 111 $ 173 $ 2 $ 286 Restructuring charges $ 22 $ 10 $ 5 $ 37 Stock-based compensation expense $ 9 $ 6 $ 9 $ 24 Other items (1) $ — $ 3 $ 16 $ 19 Operating income/(loss) $ 143 $ 376 $ (49 ) $ 470 Business segment income/(loss) (2) $ 285 $ 568 $ (17 ) $ 836 (1) Other items primarily consist of non-recurring costs for the three and six months ended June 30, 2015 and 2014, respectively. (2) The Company’s chief operating decision making group uses business segment income/(loss) to measure performance from period to period both at the consolidated level as well as within its operating segments.

Guarantor Financial Informati29

Guarantor Financial Information (Tables)	6 Months Ended
	Jun. 30, 2015
Guarantees [Abstract]
Consolidating Statement of Comprehensive Income	Nielsen N.V. Condensed Consolidating Statement of Comprehensive Income (Unaudited) For the three months ended June 30, 2015 (IN MILLIONS) Parent Issuers Guarantor Non- Elimination Consolidated Revenues $ — $ — $ 899 $ 660 $ — $ 1,559 Cost of revenues, exclusive of depreciation and amortization shown separately below — — 320 328 — 648 Selling, general and administrative expenses, exclusive of depreciation and amortization shown separately below 2 — 249 214 — 465 Depreciation and amortization — — 120 26 — 146 Restructuring charges — — 8 6 — 14 Operating (loss)/income (2 ) — 202 86 — 286 Interest income — 217 9 2 (227 ) 1 Interest expense — (75 ) (220 ) (11 ) 227 (79 ) Foreign currency exchange transaction losses, net — — — (6 ) — (6 ) Other income/(expense), net — — 99 (99 ) — — (Loss)/income from continuing operations before income taxes and equity in net income of subsidiaries and affiliates (2 ) 142 90 (28 ) — 202 (Provision)/benefit for income taxes — (50 ) (49 ) 13 — (86 ) Equity in net income of subsidiaries 116 20 75 129 (340 ) — Net income 114 112 116 114 (340 ) 116 Less net income attributable to noncontrolling interests — — — 2 — 2 Net income attributable to controlling interest 114 112 116 112 (340 ) 114 Total other comprehensive income 42 45 42 46 (134 ) 41 Total other comprehensive loss attributable to noncontrolling interests — — — (1 ) — (1 ) Total other comprehensive income attributable to controlling interests 42 45 42 47 (134 ) 42 Total comprehensive income 156 157 158 160 (474 ) 157 Comprehensive income attributable to noncontrolling interests — — — 1 — 1 Total comprehensive income attributable to controlling interest $ 156 157 158 159 (474 ) 156 Nielsen N.V. Condensed Consolidating Statement of Comprehensive Income (Unaudited) For the three months ended June 30, 2014 (IN MILLIONS) Parent Issuers Guarantor Non- Elimination Consolidated Revenues $ — $ — $ 851 $ 743 $ — $ 1,594 Cost of revenues, exclusive of depreciation and amortization shown separately below — — 329 348 — 677 Selling, general and administrative expenses, exclusive of depreciation and amortization shown separately below 1 — 239 242 — 482 Depreciation and amortization — — 115 30 — 145 Restructuring charges — — 12 1 — 13 Operating (loss)/income (1 ) — 156 122 — 277 Interest income — 213 11 3 (226 ) 1 Interest expense — (74 ) (217 ) (13 ) 226 (78 ) Foreign currency exchange transaction losses, net — — (1 ) (5 ) — (6 ) Other (expense)/income, net — (45 ) 158 (158 ) — (45 ) (Loss)/income from continuing operations before income taxes and equity in net income of subsidiaries and affiliates (1 ) 94 107 (51 ) — 149 Benefit/(provision) for income taxes 1 (10 ) (68 ) 3 — (74 ) Equity in net income of subsidiaries 74 196 35 125 (430 ) — Equity in net income of affiliates — — — 1 — 1 Net income 74 280 74 78 (430 ) 76 Less net income attributable to noncontrolling interests — — — 2 — 2 Net income attributable to controlling interest 74 280 74 76 (430 ) 74 Total other comprehensive income 41 34 41 34 (109 ) 41 Total comprehensive income 115 314 115 112 (539 ) 117 Comprehensive income attributable to noncontrolling interests — — — 2 — 2 Total comprehensive income attributable to controlling interest $ 115 314 115 110 (539 ) 115 Nielsen N.V. Condensed Consolidated Statement of Comprehensive Income (Unaudited) For the six months ended June 30, 2015 (IN MILLIONS) Parent Issuer Guarantor Non- Elimination Consolidated Revenues $ — $ — $ 1,745 $ 1,272 $ — $ 3,017 Cost of revenues, exclusive of depreciation and amortization shown separately below — — 632 638 — 1,270 Selling, general and administrative expenses, exclusive of depreciation and amortization shown 3 — 507 436 — 946 Depreciation and amortization — — 233 55 — 288 Restructuring charges — — 19 9 — 28 Operating (loss)/income (3 ) — 354 134 — 485 Interest income — 437 20 3 (458 ) 2 Interest expense — (143 ) (444 ) (23 ) 458 (152 ) Foreign currency exchange transaction losses, net — — (11 ) (21 ) — (32 ) Other income/(expense), net — — 91 (91 ) — — (Loss)/income from continuing operations before income taxes and equity in net income of subsidiaries and affiliates (3 ) 294 10 2 — 303 Provision for income taxes — (103 ) (14 ) (7 ) — (124 ) Equity in net income of subsidiaries 180 5 184 197 (566 ) — Net income 177 196 180 192 (566 ) 179 Less net income attributable to noncontrolling — — — 2 — 2 Net income attributable to controlling interest 177 196 180 190 (566 ) 177 Total other comprehensive loss (121 ) (118 ) (121 ) (122 ) 357 (125 ) Total other comprehensive loss attributable to noncontrolling interests — — — (4 ) — (4 ) Total other comprehensive loss attributable to controlling interests (121 ) (118 ) (121 ) (118 ) 357 (121 ) Total comprehensive income 56 78 59 70 (209 ) 54 Comprehensive loss attributable to noncontrolling interests — — — (2 ) — (2 ) Total comprehensive income attributable to controlling interests $ 56 78 59 72 (209 ) 56 Nielsen N.V. Condensed Consolidated Statement of Comprehensive Income (Unaudited) For the six months ended June 30, 2014 (IN MILLIONS) Parent Issuer Guarantor Non- Elimination Consolidated Revenues $ — $ — $ 1,654 $ 1,429 $ — $ 3,083 Cost of revenues, exclusive of depreciation and amortization shown separately below — — 636 683 — 1,319 Selling, general and administrative expenses, exclusive of depreciation and amortization shown 1 — 487 483 — 971 Depreciation and amortization — — 225 61 — 286 Restructuring charges — — 24 13 — 37 Operating (loss)/income (1 ) — 282 189 — 470 Interest income — 421 23 5 (447 ) 2 Interest expense — (147 ) (430 ) (25 ) 447 (155 ) Foreign currency exchange transaction losses, net — — — (33 ) — (33 ) Other (expense)/income, net — (45 ) 148 (151 ) — (48 ) (Loss)/income from continuing operations before income taxes and equity in net income/(loss) of subsidiaries and affiliates (1 ) 229 23 (15 ) — 236 Benefit/(provision) for income taxes 5 (57 ) (47 ) (8 ) — (107 ) Equity in net income of subsidiaries 128 160 153 147 (588 ) — Equity in net (loss)/income of affiliates — — (1 ) 3 — 2 Net income 132 332 128 127 (588 ) 131 Less net loss attributable to noncontrolling — — — (1 ) — (1 ) Net income attributable to controlling interest 132 332 128 128 (588 ) 132 Total other comprehensive income 38 22 38 22 (82 ) 38 Total comprehensive income 170 354 166 149 (670 ) 169 Comprehensive loss attributable to noncontrolling interests — — — (1 ) — (1 ) Total comprehensive income attributable to controlling interest $ 170 354 166 150 (670 ) 170
Consolidating Balance Sheet	Nielsen N.V. Condensed Consolidating Balance Sheet (Unaudited) June 30, 2015 (IN MILLIONS) Parent Issuers Guarantor Non- Elimination Consolidated Assets: Current assets Cash and cash equivalents $ 29 — 40 262 — 331 Trade and other receivables, net — — 536 691 — 1,227 Prepaid expenses and other current assets — 9 381 166 — 556 Intercompany receivables 1 411 299 126 (837 ) — Total current assets 30 420 1,256 1,245 (837 ) 2,114 Non-current assets Property, plant and equipment, net — — 332 176 — 508 Goodwill — — 5,724 1,966 — 7,690 Other intangible assets, net — — 4,351 351 — 4,702 Deferred tax assets 1 — 24 45 — 70 Other non-current assets — 48 207 126 — 381 Equity investment in subsidiaries 4,711 1,457 6,111 2,934 (15,213 ) — Intercompany loans — 10,835 530 187 (11,552 ) — Total assets $ 4,742 $ 12,760 $ 18,535 $ 7,030 $ (27,602 ) $ 15,465 Liabilities and equity: Current liabilities Accounts payable and other current liabilities $ 13 $ 52 $ 314 $ 452 $ — $ 831 Deferred revenues — — 186 146 — 332 Income tax liabilities — — 90 49 — 139 Current portion of long-term debt, capital lease obligations and short-term borrowings — 98 232 1 — 331 Intercompany payables 15 124 523 175 (837 ) — Total current liabilities 28 274 1,345 823 (837 ) 1,633 Non-current liabilities Long-term debt and capital lease obligations — 7,036 85 21 — 7,142 Deferred tax liabilities — 74 878 65 — 1,017 Intercompany loans 35 61 10,952 504 (11,552 ) — Other non-current liabilities 2 4 564 351 — 921 Total liabilities 65 7,449 13,824 1,764 (12,389 ) 10,713 Total stockholders’ equity 4,677 5,311 4,711 5,191 (15,213 ) 4,677 Noncontrolling interests — — — 75 — 75 Total equity 4,677 5,311 4,711 5,266 (15,213 ) 4,752 Total liabilities and equity $ 4,742 $ 12,760 $ 18,535 $ 7,030 $ (27,602 ) $ 15,465 Nielsen N.V. Condensed Consolidating Balance Sheet December 31, 2014 (IN MILLIONS) Parent Issuers Guarantor Non-Guarantor Elimination Consolidated Assets: Current assets Cash and cash equivalents $ 49 $ 1 $ (51 ) $ 274 $ — $ 273 Trade and other receivables, net 1 — 526 714 — 1,241 Prepaid expenses and other current assets — 8 339 158 — 505 Intercompany receivables 1 228 141 190 (560 ) — Total current assets 51 237 955 1,336 (560 ) 2,019 Non-current assets — Property, plant and equipment, net — — 335 198 — 533 Goodwill — — 5,588 2,083 — 7,671 Other intangible assets, net — — 4,318 397 — 4,715 Deferred tax assets 1 — 25 57 — 83 Other non-current assets — 44 171 140 — 355 Equity investment in subsidiaries 5,017 1,124 6,548 2,795 (15,484 ) — Intercompany receivables — 10,493 560 191 (11,244 ) — Total assets $ 5,069 $ 11,898 $ 18,500 $ 7,197 $ (27,288 ) $ 15,376 Liabilities and equity: Current liabilities Accounts payable and other current liabilities $ 10 $ 44 $ 418 $ 563 $ — $ 1,035 Deferred revenues — — 159 145 — 304 Income tax liabilities 1 — 18 43 — 62 Current portion of long-term debt, capital lease obligations and short-term borrowings — 98 298 1 — 397 Intercompany payables — — 428 132 (560 ) — Total current liabilities 11 142 1,321 884 (560 ) 1,798 Non-current liabilities Long-term debt and capital lease obligations — 6,358 87 20 — 6,465 Deferred tax liabilities — 74 895 56 — 1,025 Intercompany loans — 61 10,613 570 (11,244 ) — Other non-current liabilities 2 2 567 384 — 955 Total liabilities 13 6,637 13,483 1,914 (11,804 ) 10,243 Total stockholders’ equity 5,056 5,261 5,017 5,206 (15,484 ) 5,056 Noncontrolling interests — — — 77 — 77 Total equity 5,056 5,261 5,017 5,283 (15,484 ) 5,133 Total liabilities and equity $ 5,069 $ 11,898 $ 18,500 $ 7,197 $ (27,288 ) $ 15,376
Consolidating Statement of Cash Flows	Nielsen N.V. Condensed Consolidating Statement of Cash Flows (Unaudited) For the six months ended June 30, 2015 (IN MILLIONS) Parent Issuers Guarantor Non- Consolidated Net cash provided by operating activities $ — $ 258 $ 46 $ 22 $ 326 Investing activities: Acquisition of subsidiaries and affiliates, — — (196 ) (1 ) (197 ) Additions to property, plant and equipment and — — (49 ) (20 ) (69 ) Additions to intangible assets — — (117 ) (13 ) (130 ) Other investing activities — — 3 — 3 Net cash used in investing activities — — (359 ) (34 ) (393 ) Financing activities: Net borrowings under revolving credit facility — — (72 ) — (72 ) Repayments of debt — (49 ) — — (49 ) Proceeds from the issuance of debt, net of issuance costs 746 746 Cash dividends paid to stockholders (192 ) — — — (192 ) Repurchase of common stock (320 ) — — — (320 ) Activity under stock plans 28 — (2 ) — 26 Excess tax benefits from stock-based compensation — — 28 — 28 Settlement of intercompany and other financing activities 464 (956 ) 453 27 (12 ) Net cash (used in)/provided by financing activities (20 ) (259 ) 407 27 155 Effect of exchange-rate changes on cash — — (3 ) (27 ) (30 ) Net (decrease)/increase in cash and cash equivalents (20 ) (1 ) 91 (12 ) 58 Cash and cash equivalents at beginning of period 49 1 (51 ) 274 273 Cash and cash equivalents at end of period $ 29 $ — $ 40 $ 262 $ 331 Nielsen N.V. Condensed Consolidated Statement of Cash Flows (Unaudited) For the six months ended June 30, 2014 (IN MILLIONS) Parent Issuers Guarantor Non- Consolidated Net cash provided by/(used in) operating activities $ 1 $ 299 $ (17 ) $ 17 $ 300 Investing activities: Acquisition of subsidiaries and affiliates, — — (118 ) (74 ) (192 ) Additions to property, plant and equipment and — — (38 ) (16 ) (54 ) Additions to intangible assets — — (106 ) (11 ) (117 ) Other investing activities 9 — (9 ) — — Net cash provided by/(used in) investing activities 9 — (271 ) (101 ) (363 ) Financing activities: Net borrowings under revolving credit facility — — 25 — 25 Repayments of debt — (3,747 ) — (1 ) (3,748 ) Proceeds from the issuance of debt, net of issuance costs — 3,748 — — 3,748 Cash dividends paid to stockholders (167 ) — — — (167 ) Repurchase of common stock (48 ) — — — (48 ) Activity under stock plans 60 (3 ) 57 Settlement of intercompany and other financing activities 154 (300 ) 79 26 (41 ) Net cash (used in)/provided by financing activities (1 ) (299 ) 104 22 (174 ) Effect of exchange-rate changes on cash — — — (17 ) (17 ) Net increase/(decrease) in cash and cash equivalents 9 — (184 ) (79 ) (254 ) Cash and cash equivalents at beginning of period 12 — 205 347 564 Cash and cash equivalents at end of period $ 21 $ — $ 21 $ 268 $ 310

Background and Basis of Prese30

Background and Basis of Presentation - Additional Information (Detail) $ in Millions	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2015USD ($)CountryVEF / $shares	Dec. 31, 2014USD ($)VEF / $shares	Jun. 30, 2014shares	Mar. 31, 2014USD ($)VEF / $	Jun. 30, 2015USD ($)SegmentCountryVEF / $shares	Jun. 30, 2014shares	Dec. 31, 2014USD ($)VEF / $shares	Feb. 28, 2013VEF / $
Business And Basis Of Presentation [Line Items]
Number of reportable segments | Segment					2
Number of countries in which entity operates | Country	100				100
Common stock, shares issued | shares	382,675,950	382,622,922			382,675,950		382,622,922
Anti-dilutive shares excluded from calculation of earning per share under compensation plan | shares	2,349,596		81,000		2,383,850	81,000
Foreign currency exchange transaction gains (losses) | $		$ (32)		$ (20)	$ (8)		$ (52)
Before devaluation of currency
Business And Basis Of Presentation [Line Items]
Foreign currency exchange rate								4.30
After devaluation of currency
Business And Basis Of Presentation [Line Items]
Foreign currency exchange rate								6.30
SICAD I Exchange Rate
Business And Basis Of Presentation [Line Items]
Foreign currency exchange rate				10.8
SICAD II Exchange Rate
Business And Basis Of Presentation [Line Items]
Foreign currency exchange rate		50					50
SIMADI Exchange Rate
Business And Basis Of Presentation [Line Items]
Foreign currency exchange rate	197				197
Net monetary assets | $	$ 3				$ 3
Luxco
Business And Basis Of Presentation [Line Items]
Percentage of owned shares					2.00%		15.00%
Nielsen's common stock
Business And Basis Of Presentation [Line Items]
Common stock, shares issued | shares	46,700,000				46,700,000

Business Acquisitions - Additio

Business Acquisitions - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Business Combinations [Abstract]
Payments to acquire businesses, net of cash acquired	$ 197	$ 192

Goodwill and Other Intangible32

Goodwill and Other Intangible Assets - Summary of Changes in Carrying Amount of Goodwill (Detail) $ in Millions	6 Months Ended
	Jun. 30, 2015USD ($)
Goodwill [Line Items]
Balance beginning	$ 7,671
Acquisitions, divestitures and other adjustments	147
Effect of foreign currency translation	(128)
Balance ending	7,690
Buy
Goodwill [Line Items]
Balance beginning	3,014
Acquisitions, divestitures and other adjustments	5
Effect of foreign currency translation	(113)
Balance ending	2,906
Watch
Goodwill [Line Items]
Balance beginning	4,657
Acquisitions, divestitures and other adjustments	142
Effect of foreign currency translation	(15)
Balance ending	$ 4,784

Goodwill and Other Intangible33

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Goodwill deductible for income tax purposes	$ 69		$ 69
Amortization expense, intangible assets	103	$ 104	203	$ 201
Amortization expense, computer software	$ 55	$ 57	$ 109	$ 108

Goodwill and Other Intangible34

Goodwill and Other Intangible Assets - Other Intangible Assets (Detail) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Finite And Indefinite Lived Intangible Assets [Line Items]
Amortized intangibles, Accumulated Amortization	$ (2,592)	$ (2,386)
Amortized intangibles, Gross Amounts	5,373	5,180
Trade names and trademarks
Finite And Indefinite Lived Intangible Assets [Line Items]
Amortized intangibles, Accumulated Amortization	(77)	(68)
Amortized intangibles, Gross Amounts	167	166
Customer - related intangibles
Finite And Indefinite Lived Intangible Assets [Line Items]
Amortized intangibles, Accumulated Amortization	(1,136)	(1,054)
Amortized intangibles, Gross Amounts	2,972	2,938
Covenants-not-to-compete
Finite And Indefinite Lived Intangible Assets [Line Items]
Amortized intangibles, Accumulated Amortization	(34)	(30)
Amortized intangibles, Gross Amounts	38	36
Computer software
Finite And Indefinite Lived Intangible Assets [Line Items]
Amortized intangibles, Accumulated Amortization	(1,264)	(1,157)
Amortized intangibles, Gross Amounts	2,091	1,935
Patents and other
Finite And Indefinite Lived Intangible Assets [Line Items]
Amortized intangibles, Accumulated Amortization	(81)	(77)
Amortized intangibles, Gross Amounts	105	105
Trade names and trademarks
Finite And Indefinite Lived Intangible Assets [Line Items]
Indefinite-lived intangibles, Gross Amounts	$ 1,921	$ 1,921

Changes in and Reclassificati35

Changes in and Reclassification out of Accumulated Other Comprehensive Loss by Component - Summary of Changes in Accumulated Other Comprehensive Loss, Net of Tax by Component (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Beginning Balance			$ (777)	$ (387)
Other comprehensive (loss)/income before reclassifications			(139)	29
Amounts reclassified from accumulated other comprehensive loss			14	9
Net current period other comprehensive (loss)/income	$ 41	$ 41	(125)	38
Net current period other comprehensive loss attributable to noncontrolling interest	(1)		(4)
Net current period other comprehensive (loss)/income attributable to Nielsen stockholders	42		(121)	38
Ending Balance	(898)	(349)	(898)	(349)
Currency Translation Adjustments
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Beginning Balance			(418)	(124)
Other comprehensive (loss)/income before reclassifications			(137)	33
Net current period other comprehensive (loss)/income			(137)
Net current period other comprehensive loss attributable to noncontrolling interest			(4)
Net current period other comprehensive (loss)/income attributable to Nielsen stockholders			(133)	33
Ending Balance	(551)	(91)	(551)	(91)
Available-for-Sale Securities
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Beginning Balance			19	9
Other comprehensive (loss)/income before reclassifications			4	4
Net current period other comprehensive (loss)/income			4
Net current period other comprehensive (loss)/income attributable to Nielsen stockholders			4	4
Ending Balance	23	13	23	13
Cash Flow Hedges
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Beginning Balance			(2)	(5)
Other comprehensive (loss)/income before reclassifications			(6)	(6)
Amounts reclassified from accumulated other comprehensive loss			4	5
Net current period other comprehensive (loss)/income			(2)
Net current period other comprehensive (loss)/income attributable to Nielsen stockholders			(2)	(1)
Ending Balance	(4)	(6)	(4)	(6)
Post Employment Benefits
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Beginning Balance			(376)	(267)
Other comprehensive (loss)/income before reclassifications				(2)
Amounts reclassified from accumulated other comprehensive loss			10	4
Net current period other comprehensive (loss)/income			10
Net current period other comprehensive (loss)/income attributable to Nielsen stockholders			10	2
Ending Balance	$ (366)	$ (265)	$ (366)	$ (265)

Changes in and Reclassificati36

Changes in and Reclassification out of Accumulated Other Comprehensive Loss by Component - Summary of Reclassification of Accumulated Other Comprehensive Loss by Component (Detail) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Benefit for income taxes		$ 86	$ 74	$ 124	$ 107
Net income attributable to Nielsen stockholders		114	74	177	132
Amount reclassified from accumulated other comprehensive income, before tax
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Net income attributable to Nielsen stockholders		7	5	14	9
Cash Flow Hedges | Interest rate contracts
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Benefit for income taxes		1	1	2	3
Cash Flow Hedges | Interest rate contracts | Amount reclassified from accumulated other comprehensive income, before tax
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Interest expense		3	4	6	8
Net income attributable to Nielsen stockholders		2	3	4	5
Actuarial loss
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Benefit for income taxes		1	1	2	2
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Actuarial loss, before Tax	[1]	6	3	12	6
Actuarial loss | Amount reclassified from accumulated other comprehensive income, before tax
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Net income attributable to Nielsen stockholders		$ 5	$ 2	$ 10	$ 4
[1]	This accumulated other comprehensive loss component is included in the computation of net periodic pension cost.

Restructuring Activities - Summ

Restructuring Activities - Summary of Changes in Liabilities for Restructuring Activities (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Restructuring And Related Activities [Abstract]
Beginning Balance			$ 72
Charges	$ 14	$ 13	28	$ 37
Payments			(48)
Effect of foreign currency translation and reclassification adjustments			(3)
Ending Balance	$ 49		$ 49

Restructuring Activities - Addi

Restructuring Activities - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Restructuring And Related Activities [Abstract]
Restructuring charges	$ 14	$ 13	$ 28	$ 37
Restructuring reserve	49		49		$ 72
Restructuring actions for remaining liabilities, Current	$ 39		$ 39

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Measured on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Millions		Jun. 30, 2015	Dec. 31, 2014
Assets:
Asset		$ 86	$ 76
Liabilities:
Liabilities		40	34
Interest Rate Swap Arrangements
Assets:
Asset	[1]	1	1
Liabilities:
Liabilities	[1]	9	6
Deferred Compensation Liabilities
Liabilities:
Liabilities	[2]	31	28
Level 1
Assets:
Asset		85	75
Liabilities:
Liabilities		31	28
Level 1 | Deferred Compensation Liabilities
Liabilities:
Liabilities	[2]	31	28
Level 2
Assets:
Asset		1	1
Liabilities:
Liabilities		9	6
Level 2 | Interest Rate Swap Arrangements
Assets:
Asset	[1]	1	1
Liabilities:
Liabilities	[1]	9	6
Investments in Equity Securities
Assets:
Asset	[3]	52	45
Investments in Equity Securities | Level 1
Assets:
Asset	[3]	52	45
Plan Assets for Deferred Compensation
Assets:
Asset	[4]	31	28
Plan Assets for Deferred Compensation | Level 1
Assets:
Asset	[4]	31	28
Investment In Mutual Funds
Assets:
Asset	[5]	2	2
Investment In Mutual Funds | Level 1
Assets:
Asset	[5]	$ 2	$ 2
[1]	Derivative financial instruments include interest rate swap arrangements recorded at fair value based on externally-developed valuation models that use readily observable market parameters and the consideration of counterparty risk.
[2]	The Company offers certain employees the opportunity to participate in a deferred compensation plan. A participant’s deferrals are invested in a variety of participant directed stock and bond mutual funds and are classified as trading securities. Changes in the fair value of these securities are measured using quoted prices in active markets based on the market price per unit multiplied by the number of units held exclusive of any transaction costs. A corresponding adjustment for changes in fair value of the trading securities is also reflected in the changes in fair value of the deferred compensation obligation.
[3]	Investments in equity securities are carried at fair value, which is based on the quoted market price at period end in an active market. These investments are classified as available-for-sale with any unrealized gains or losses resulting from changes in fair value recorded, net of tax, as a component of accumulated other comprehensive income/(loss) until realized. Nielsen assesses declines in the value of individual investments to determine whether such decline is other than temporary and thus the investment is impaired by considering available evidence. No impairment charge was recorded for these available-for-sale securities during the six months ended June 30, 2015 and the year ended December 31, 2014.
[4]	Plan assets are comprised of investments in mutual funds, which are intended to fund liabilities arising from deferred compensation plans. These investments are carried at fair value, which is based on quoted market prices at period end in active markets. These investments are classified as trading securities with any gains or losses resulting from changes in fair value recorded in other expense, net.
[5]	Investments in mutual funds are money-market accounts held with the intention of funding certain specific retirement plans.

Fair Value Measurements - Fin40

Fair Value Measurements - Financial Assets and Liabilities Measured on Recurring Basis (Parenthetical) (Detail) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Measurements, Recurring
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Impairment in other expense	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($)	1 Months Ended	6 Months Ended
	Apr. 30, 2015	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Derivative Instruments Gain Loss [Line Items]
Pre-tax losses from accumulated other comprehensive loss to interest expense expected to be recognized in next twelve months		$ 7,000,000
Foreign Currency Exchange Contract
Derivative Instruments Gain Loss [Line Items]
Gain (loss) on derivative financial instruments		3,000,000	$ 0
Derivative financial instruments outstanding		$ 15,000,000		$ 0
Derivative maturity dates		Jul. 31, 2015
Forward Contracts | April 2015 | Designated As Hedging Instrument
Derivative Instruments Gain Loss [Line Items]
Derivative financial instruments outstanding	$ 150,000,000
Interest rate swap maturity term	3 years
Variable interest rate	1.40%

Fair Value Measurements - Outst

Fair Value Measurements - Outstanding Interest Rate Swaps (Detail) - Jun. 30, 2015	USD ($)	EUR (€)
US Dollar term loan floating-to-fixed rate swaps maturing on September 2015
Derivative Instruments Gain Loss [Line Items]
Derivative financial instruments outstanding	$ 250,000,000
Maturity Date	Sep. 1, 2015
US Dollar term loan floating-to-fixed rate swaps maturing on November 2015
Derivative Instruments Gain Loss [Line Items]
Derivative financial instruments outstanding	$ 125,000,000
Maturity Date	Nov. 1, 2015
Euro term loan floating-to-fixed rate swaps maturing on November 2015
Derivative Instruments Gain Loss [Line Items]
Derivative financial instruments outstanding | €		€ 125,000,000
Maturity Date	Nov. 1, 2015
US Dollar term loan floating-to-fixed rate swaps maturing on May 2016
Derivative Instruments Gain Loss [Line Items]
Derivative financial instruments outstanding	$ 1,575,000,000
Maturity Date	May 1, 2016
US Dollar term loan floating-to-fixed rate swaps maturing on November 2016
Derivative Instruments Gain Loss [Line Items]
Derivative financial instruments outstanding	$ 500,000,000
Maturity Date	Nov. 1, 2016
US Dollar term loan floating-to-fixed rate swaps maturing on September 2017
Derivative Instruments Gain Loss [Line Items]
Derivative financial instruments outstanding	$ 250,000,000
Maturity Date	Sep. 1, 2017
US Dollar term loan floating-to-fixed rate swaps maturing on May 2018
Derivative Instruments Gain Loss [Line Items]
Derivative financial instruments outstanding	$ 250,000,000
Maturity Date	May 1, 2018
US Dollar term loan floating-to-fixed rate swaps maturing on April 2019
Derivative Instruments Gain Loss [Line Items]
Derivative financial instruments outstanding	$ 150,000,000
Maturity Date	Apr. 1, 2019

Fair Value Measurements - Fair

Fair Value Measurements - Fair Values of Derivative Instruments in Consolidated Balance Sheets (Detail) - Interest Rate Swap Arrangements - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Other Noncurrent Assets
Derivatives Fair Value [Line Items]
Assets	$ 1	$ 1
Account Payable And Other Current Liabilities
Derivatives Fair Value [Line Items]
Liabilities	5	4
Account Payable And Other Non Current Liabilities
Derivatives Fair Value [Line Items]
Liabilities	$ 4	$ 2

Fair Value Measurements - Deriv

Fair Value Measurements - Derivatives in Cash Flow Hedging Relationships (Detail) - Interest Rate Swap Arrangements - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Derivative Instruments Gain Loss [Line Items]
Amount of Loss Recognized in OCI Derivatives (Effective Portion)	$ 2	$ 5	$ 10	$ 9
Interest Expense
Derivative Instruments Gain Loss [Line Items]
Amount of Loss Reclassified from AOCI into Income (Effective Portion)	$ 3	$ 4	$ 6	$ 8

Long-term Debt and Other Fina45

Long-term Debt and Other Financing Arrangements - Summary of Long-Term Debt (Detail) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Total long-term debt, Weighted average interest rate	3.97%	3.79%
Total long-term debt, Carrying Amount	$ 7,351	$ 6,744
Capital lease and other financing obligations, Carrying Amount	122	118
Total debt and other financing arrangements	7,473	6,862
Less: Current portion of long-term debt, capital lease and other financing obligations and other short-term borrowings	331	397
Long-term debt and capital lease obligations	7,142	6,465
Total long-term debt, Fair Value	$ 7,302	$ 6,727
Senior secured credit facilities
Debt Instrument [Line Items]
Total long-term debt, Weighted average interest rate	2.68%	2.65%
Total long-term debt, Carrying Amount	$ 3,609	$ 3,758
Total long-term debt, Fair Value	$ 3,601	$ 3,731
Debenture Loans
Debt Instrument [Line Items]
Total long-term debt, Weighted average interest rate	5.22%	5.23%
Total long-term debt, Carrying Amount	$ 3,733	$ 2,978
Total long-term debt, Fair Value	3,692	2,988
Senior Secured Term Loan Facility Due 2019 | Libor Based Variable Rate
Debt Instrument [Line Items]
Total long-term debt, Carrying Amount	1,501	1,542
Total long-term debt, Fair Value	1,492	1,533
Senior Secured Term Loan Facility Due 2019 | Euro LIBOR or LIBOR Based Variable Rate
Debt Instrument [Line Items]
Total long-term debt, Carrying Amount	208	280
Total long-term debt, Fair Value	206	274
Senior Secured Term Loan Due 2017 | Libor Based Variable Rate
Debt Instrument [Line Items]
Total long-term debt, Carrying Amount	495	497
Total long-term debt, Fair Value	494	493
Senior Secured Term Loan Facility Due 2021 | Libor Based Variable Rate
Debt Instrument [Line Items]
Total long-term debt, Carrying Amount	1,089	1,094
Total long-term debt, Fair Value	1,093	1,088
Senior Secured Term Loan Facility Due 2021 | Euro Libor Based Variable Rate
Debt Instrument [Line Items]
Total long-term debt, Carrying Amount	316	345
Total long-term debt, Fair Value	316	343
Senior Debenture Loan Due 2020
Debt Instrument [Line Items]
Total long-term debt, Carrying Amount	800	800
Total long-term debt, Fair Value	800	801
Senior Debenture Loan Due 2022
Debt Instrument [Line Items]
Total long-term debt, Carrying Amount	2,308	1,553
Total long-term debt, Fair Value	2,262	1,554
Senior Debenture Loan Due 2021
Debt Instrument [Line Items]
Total long-term debt, Carrying Amount	625	625
Total long-term debt, Fair Value	630	633
Other Loans
Debt Instrument [Line Items]
Total long-term debt, Carrying Amount	9	8
Total long-term debt, Fair Value	$ 9	$ 8

Long-term Debt and Other Fina46

Long-term Debt and Other Financing Arrangements - Summary of Long-Term Debt (Parenthetical) (Detail) € in Millions, $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2015USD ($)	Dec. 31, 2014USD ($)	Jun. 30, 2015EUR (€)	Dec. 31, 2014EUR (€)
Senior Secured Term Loan Facility Due 2019 | Libor Based Variable Rate
Debt Instrument [Line Items]
Debt instrument face value	$ 1,580	$ 1,580
Debt instrument, variable rate	2.18%	2.18%
Debt instrument, maturity year	2,019	2,019
Senior Secured Term Loan Facility Due 2019 | Euro LIBOR or LIBOR Based Variable Rate
Debt Instrument [Line Items]
Debt instrument face value		$ 575
Debt instrument, maturity year		2,019
Senior Secured Term Loan Due 2017 | Libor Based Variable Rate
Debt Instrument [Line Items]
Debt instrument face value	$ 500	$ 500
Debt instrument, variable rate	2.43%	2.43%
Debt instrument, maturity year	2,017	2,017
Senior Secured Term Loan Facility Due 2021 | Libor Based Variable Rate
Debt Instrument [Line Items]
Debt instrument face value	$ 1,100	$ 1,100
Debt instrument, variable rate	3.18%	3.18%
Debt instrument, maturity year	2,021	2,021
Senior Secured Term Loan Facility Due 2021 | Euro Libor Based Variable Rate
Debt Instrument [Line Items]
Debt instrument face value | €			€ 286	€ 286
Debt instrument, variable rate	2.93%	2.93%
Debt instrument, maturity year	2,021	2,021
Senior Debenture Loan Due 2020
Debt Instrument [Line Items]
Debt instrument face value	$ 800	$ 800
Debt instrument interest rate stated percentage	4.50%		4.50%
Debt instrument, maturity year	2,020
Senior Debenture Loan Due 2022
Debt Instrument [Line Items]
Debt instrument face value	$ 2,300	1,550
Debt instrument interest rate stated percentage	5.00%		5.00%
Debt instrument, maturity year	2,022
Senior Debenture Loan Due 2021
Debt Instrument [Line Items]
Debt instrument face value	$ 625	$ 625
Debt instrument interest rate stated percentage	5.50%		5.50%
Debt instrument, maturity year	2,021

Long-term Debt and Other Fina47

Long-term Debt and Other Financing Arrangements - Annual Maturities of Long-Term Debt (Detail) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Debt Disclosure [Abstract]
For July 1, 2015 to December 31, 2015	$ 257
2,016	123
2,017	642
2,018	212
2,019	1,041
2,020	814
Thereafter	4,262
Total	$ 7,351	$ 6,744

Long-term Debt and Other Fina48

Long-term Debt and Other Financing Arrangements - Additional Information (Detail) - Senior Debenture Loan Due 2022 - USD ($) $ in Millions	Feb. 28, 2015	Jul. 31, 2014	Apr. 30, 2014
Debt Instrument [Line Items]
Debt instrument face value	$ 750	$ 800	$ 750
Debt instrument interest rate stated percentage	5.00%	5.00%	5.00%
Debt instrument, maturity year	2,022	2,022	2,022

Stockholders' Equity - Common S

Stockholders' Equity - Common Stock Activity (Detail) - shares	1 Months Ended						6 Months Ended
	Jun. 30, 2015	May. 31, 2015	Apr. 30, 2015	Mar. 31, 2015	Feb. 28, 2015	Jan. 31, 2015	Jun. 30, 2015
Actual number of shares of common stock outstanding
Beginning of period						372,757,598	372,757,598
Shares of common stock issued through compensation plans							1,264,951
Repurchases of common stock	(1,300,836)	(1,222,800)	(1,440,798)	(772,189)	(814,753)	(1,611,203)	(7,162,579)
End of period	366,859,970						366,859,970

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	Jul. 23, 2015	Jun. 30, 2015	May. 31, 2015	Apr. 30, 2015	Mar. 31, 2015	Feb. 28, 2015	Jan. 31, 2015	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Oct. 23, 2014	Jul. 25, 2013
Stockholders Equity [Line Items]
Cumulative shares of treasury stock		15,815,980						15,815,980		15,815,980		9,865,324
Cost of treasury stock		$ 685,000,000						$ 685,000,000		$ 685,000,000		$ 415,000,000	$ 1,000,000,000
Dividends declared per common share								$ 0.28	$ 0.25	$ 0.53	$ 0.45
Cumulative shares repurchased		18,345,562						18,345,562		18,345,562		11,182,983
Average price of common stock purchased		$ 45.14	$ 45.37	$ 45.30	$ 43.76	$ 43.90	$ 44.09			$ 43.46		$ 42.67
Payments For Repurchase Of Common Stock		$ 797,000,000						$ 797,000,000		$ 797,000,000
Maximum
Stockholders Equity [Line Items]
Cost of treasury stock														$ 500,000,000
Subsequent Event
Stockholders Equity [Line Items]
Declaration Date	Jul. 23, 2015
Dividends declared per common share	$ 0.28
Payment Date	Sep. 10, 2015
Record Date	Aug. 27, 2015

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Dividends Paid (Detail) - $ / shares	Apr. 20, 2015	Feb. 19, 2015	Oct. 30, 2014	Jul. 24, 2014	May. 01, 2014	Feb. 20, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Dividends Payable [Line Items]
Dividend Per Share							$ 0.28	$ 0.25	$ 0.53	$ 0.45
Installment One
Dividends Payable [Line Items]
Declaration Date									Feb. 20, 2014
Record Date									Mar. 6, 2014
Payment Date									Mar. 20, 2014
Dividend Per Share						$ 0.20
Installment Two
Dividends Payable [Line Items]
Declaration Date									May 1, 2014
Record Date									Jun. 5, 2014
Payment Date									Jun. 19, 2014
Dividend Per Share					$ 0.25
Installment Three
Dividends Payable [Line Items]
Declaration Date									Jul. 24, 2014
Record Date									Aug. 28, 2014
Payment Date									Sep. 11, 2014
Dividend Per Share				$ 0.25
Installment Four
Dividends Payable [Line Items]
Declaration Date									Oct. 30, 2014
Record Date									Nov. 25, 2014
Payment Date									Dec. 9, 2014
Dividend Per Share			$ 0.25
Installment Five
Dividends Payable [Line Items]
Declaration Date									Feb. 19, 2015
Record Date									Mar. 5, 2015
Payment Date									Mar. 19, 2015
Dividend Per Share		$ 0.25
Installment Six
Dividends Payable [Line Items]
Declaration Date									Apr. 20, 2015
Record Date									Jun. 4, 2015
Payment Date									Jun. 18, 2015
Dividend Per Share	$ 0.28

Stockholders' Equity - Open Mar

Stockholders' Equity - Open Market Share Repurchases Activity (Detail) - USD ($)	1 Months Ended						6 Months Ended	12 Months Ended
	Jun. 30, 2015	May. 31, 2015	Apr. 30, 2015	Mar. 31, 2015	Feb. 28, 2015	Jan. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Condensed Financial Statements Captions [Line Items]
Total Number of Shares Purchased, beginning balance						11,182,983	11,182,983
Number of Shares Purchased	1,300,836	1,222,800	1,440,798	772,189	814,753	1,611,203	7,162,579
Total Number of Shares Purchased, ending balance	18,345,562						18,345,562	11,182,983
Average price of common stock purchased	$ 45.14	$ 45.37	$ 45.30	$ 43.76	$ 43.90	$ 44.09	$ 43.46	$ 42.67
Dollar Value of Shares that may yet be Purchased under the Plans or Programs	$ 702,774,965	$ 761,496,406	$ 816,973,014	$ 882,241,498	$ 916,031,448	$ 951,797,780	$ 702,774,965	$ 1,022,830,101
Publicly Announced Plans Or Programs
Condensed Financial Statements Captions [Line Items]
Total Number of Shares Purchased, beginning balance						11,182,983	11,182,983
Number of Shares Purchased	1,300,836	1,222,800	1,440,798	772,189	814,753	1,611,203
Total Number of Shares Purchased, ending balance	18,345,562						18,345,562	11,182,983

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2015	Dec. 31, 2014
Income Tax [Line Items]
Effective tax rates	43.00%	50.00%	41.00%	45.00%
Liabilities for unrecognized income tax benefits						$ 452
Scenario, Forecast
Income Tax [Line Items]
Liabilities for unrecognized income tax benefits					$ 457

Segments - Additional Informati

Segments - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2015Segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segments - Business Segment Inf

Segments - Business Segment Information (Detail) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Segment Reporting Information [Line Items]
Revenues		$ 1,559	$ 1,594	$ 3,017	$ 3,083
Depreciation and amortization		146	145	288	286
Restructuring charges		14	13	28	37
Stock-based compensation expense		13	12	27	24
Other items	[1]	9	13	20	19
Operating income/(loss)		286	277	485	470
Business segment income/(loss)	[2]	468	460	848	836
Total assets		15,465		15,465		$ 15,376
Operating Segments | Buy
Segment Reporting Information [Line Items]
Revenues		852	900	1,650	1,737
Depreciation and amortization		53	57	106	111
Restructuring charges		10	4	17	22
Stock-based compensation expense		4	3	9	9
Operating income/(loss)		95	103	140	143
Business segment income/(loss)	[2]	162	167	272	285
Total assets		6,769		6,769		6,869
Operating Segments | Watch
Segment Reporting Information [Line Items]
Revenues		707	694	1,367	1,346
Depreciation and amortization		92	87	180	173
Restructuring charges		4	7	8	10
Stock-based compensation expense		2	2	4	6
Other items	[1]		2		3
Operating income/(loss)		216	203	400	376
Business segment income/(loss)	[2]	314	301	592	568
Total assets		8,422		8,422		8,156
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Depreciation and amortization		1	1	2	2
Restructuring charges			2	3	5
Stock-based compensation expense		7	7	14	9
Other items	[1]	9	11	20	16
Operating income/(loss)		(25)	(29)	(55)	(49)
Business segment income/(loss)	[2]	(8)	$ (8)	(16)	$ (17)
Total assets		$ 274		$ 274		$ 351
[1]	Other items primarily consist of non-recurring costs for the three and six months ended June 30, 2015 and 2014, respectively.
[2]	The Company’s chief operating decision making group uses business segment income/(loss) to measure performance from period to period both at the consolidated level as well as within its operating segments.

Guarantor Financial Informati56

Guarantor Financial Information - Additional Information (Detail)	Jun. 30, 2015
Condensed Financial Information Of Parent Company Only Disclosure [Abstract]
Ownership percentage in subsidiaries	100.00%

Guarantor Financial Informati57

Guarantor Financial Information - Condensed Consolidating Statement of Comprehensive Income (Unaudited) (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Condensed Financial Statements Captions [Line Items]
Revenues	$ 1,559	$ 1,594	$ 3,017	$ 3,083
Cost of revenues, exclusive of depreciation and amortization shown separately below	648	677	1,270	1,319
Selling, general and administrative expenses, exclusive of depreciation and amortization shown separately below	465	482	946	971
Depreciation and amortization	146	145	288	286
Restructuring charges	14	13	28	37
Operating income	286	277	485	470
Interest income	1	1	2	2
Interest expense	(79)	(78)	(152)	(155)
Foreign currency exchange transaction losses, net	(6)	(6)	(32)	(33)
Other income/(expense), net	0	(45)	0	(48)
Income from continuing operations before income taxes and equity in net income of affiliates	202	149	303	236
Provision for income taxes	(86)	(74)	(124)	(107)
Equity in net income of subsidiaries	0		0
Net income	116	76	179	131
Less net income attributable to noncontrolling interests	2	2	2	(1)
Net income attributable to Nielsen stockholders	114	74	177	132
Total other comprehensive income	41	41	(125)	38
Net current period other comprehensive loss attributable to noncontrolling interest	(1)		(4)
Total other comprehensive income attributable to controlling interests	42		(121)	38
Total comprehensive income	157	117	54	169
Comprehensive income attributable to noncontrolling interests	1	2	(2)	(1)
Total comprehensive income attributable to Nielsen stockholders	156	115	56	170
Equity in net income of affiliates		1		2
Parent
Condensed Financial Statements Captions [Line Items]
Selling, general and administrative expenses, exclusive of depreciation and amortization shown separately below	2	1	3	1
Operating income	(2)	(1)	(3)	(1)
Income from continuing operations before income taxes and equity in net income of affiliates	(2)	(1)	(3)	(1)
Provision for income taxes		1		5
Equity in net income of subsidiaries	116	74	180	128
Net income	114	74	177	132
Net income attributable to Nielsen stockholders	114	74	177	132
Total other comprehensive income	42	41	(121)	38
Total other comprehensive income attributable to controlling interests	42		(121)
Total comprehensive income	156	115	56	170
Total comprehensive income attributable to Nielsen stockholders	156	115	56	170
Issuers
Condensed Financial Statements Captions [Line Items]
Interest income	217	213	437	421
Interest expense	(75)	(74)	(143)	(147)
Other income/(expense), net		(45)		(45)
Income from continuing operations before income taxes and equity in net income of affiliates	142	94	294	229
Provision for income taxes	(50)	(10)	(103)	(57)
Equity in net income of subsidiaries	20	196	5	160
Net income	112	280	196	332
Net income attributable to Nielsen stockholders	112	280	196	332
Total other comprehensive income	45	34	(118)	22
Total other comprehensive income attributable to controlling interests	45		(118)
Total comprehensive income	157	314	78	354
Total comprehensive income attributable to Nielsen stockholders	157	314	78	354
Guarantor
Condensed Financial Statements Captions [Line Items]
Revenues	899	851	1,745	1,654
Cost of revenues, exclusive of depreciation and amortization shown separately below	320	329	632	636
Selling, general and administrative expenses, exclusive of depreciation and amortization shown separately below	249	239	507	487
Depreciation and amortization	120	115	233	225
Restructuring charges	8	12	19	24
Operating income	202	156	354	282
Interest income	9	11	20	23
Interest expense	(220)	(217)	(444)	(430)
Foreign currency exchange transaction losses, net		(1)	(11)
Other income/(expense), net	99	158	91	148
Income from continuing operations before income taxes and equity in net income of affiliates	90	107	10	23
Provision for income taxes	(49)	(68)	(14)	(47)
Equity in net income of subsidiaries	75	35	184	153
Net income	116	74	180	128
Net income attributable to Nielsen stockholders	116	74	180	128
Total other comprehensive income	42	41	(121)	38
Total other comprehensive income attributable to controlling interests	42		(121)
Total comprehensive income	158	115	59	166
Total comprehensive income attributable to Nielsen stockholders	158	115	59	166
Equity in net income of affiliates				(1)
Non-Guarantor
Condensed Financial Statements Captions [Line Items]
Revenues	660	743	1,272	1,429
Cost of revenues, exclusive of depreciation and amortization shown separately below	328	348	638	683
Selling, general and administrative expenses, exclusive of depreciation and amortization shown separately below	214	242	436	483
Depreciation and amortization	26	30	55	61
Restructuring charges	6	1	9	13
Operating income	86	122	134	189
Interest income	2	3	3	5
Interest expense	(11)	(13)	(23)	(25)
Foreign currency exchange transaction losses, net	(6)	(5)	(21)	(33)
Other income/(expense), net	(99)	(158)	(91)	(151)
Income from continuing operations before income taxes and equity in net income of affiliates	(28)	(51)	2	(15)
Provision for income taxes	13	3	(7)	(8)
Equity in net income of subsidiaries	129	125	197	147
Net income	114	78	192	127
Less net income attributable to noncontrolling interests	2	2	2	(1)
Net income attributable to Nielsen stockholders	112	76	190	128
Total other comprehensive income	46	34	(122)	22
Net current period other comprehensive loss attributable to noncontrolling interest	(1)		(4)
Total other comprehensive income attributable to controlling interests	47		(118)
Total comprehensive income	160	112	70	149
Comprehensive income attributable to noncontrolling interests	1	2	(2)	(1)
Total comprehensive income attributable to Nielsen stockholders	159	110	72	150
Equity in net income of affiliates		1		3
Eliminations
Condensed Financial Statements Captions [Line Items]
Interest income	(227)	(226)	(458)	(447)
Interest expense	227	226	458	447
Equity in net income of subsidiaries	(340)	(430)	(566)	(588)
Net income	(340)	(430)	(566)	(588)
Net income attributable to Nielsen stockholders	(340)	(430)	(566)	(588)
Total other comprehensive income	(134)	(109)	357	(82)
Total other comprehensive income attributable to controlling interests	(134)		357
Total comprehensive income	(474)	(539)	(209)	(670)
Total comprehensive income attributable to Nielsen stockholders	$ (474)	$ (539)	$ (209)	$ (670)

Guarantor Financial Informati58

Guarantor Financial Information - Condensed Consolidating Balance Sheet (Unaudited) (Detail) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Current assets
Cash and cash equivalents	$ 331	$ 273	$ 310	$ 564
Trade and other receivables, net	1,227	1,241
Prepaid expenses and other current assets	556	505
Intercompany receivables	0
Total current assets	2,114	2,019
Non-current assets
Property, plant and equipment, net	508	533
Goodwill	7,690	7,671
Other intangible assets, net	4,702	4,715
Deferred tax assets	70	83
Other non-current assets	381	355
Equity investment in subsidiaries	0
Intercompany loans	0
Total assets	15,465	15,376
Current liabilities
Accounts payable and other current liabilities	831	1,035
Deferred revenues	332	304
Income tax liabilities	139	62
Current portion of long-term debt, capital lease obligations and short-term borrowings	331	397
Intercompany payables	0
Total current liabilities	1,633	1,798
Non-current liabilities
Long-term debt and capital lease obligations	7,142	6,465
Deferred tax liabilities	1,017	1,025
Intercompany loans	0
Other non-current liabilities	921	955
Total liabilities	10,713	10,243
Total stockholders’ equity	4,677	5,056
Noncontrolling interests	75	77
Total equity	4,752	5,133
Total liabilities and equity	15,465	15,376
Parent
Current assets
Cash and cash equivalents	29	49	21	12
Trade and other receivables, net		1
Intercompany receivables	1	1
Total current assets	30	51
Non-current assets
Deferred tax assets	1	1
Equity investment in subsidiaries	4,711	5,017
Total assets	4,742	5,069
Current liabilities
Accounts payable and other current liabilities	13	10
Income tax liabilities		1
Intercompany payables	15
Total current liabilities	28	11
Non-current liabilities
Intercompany loans	35
Other non-current liabilities	2	2
Total liabilities	65	13
Total stockholders’ equity	4,677	5,056
Total equity	4,677	5,056
Total liabilities and equity	4,742	5,069
Issuers
Current assets
Cash and cash equivalents		1
Prepaid expenses and other current assets	9	8
Intercompany receivables	411	228
Total current assets	420	237
Non-current assets
Other non-current assets	48	44
Equity investment in subsidiaries	1,457	1,124
Intercompany loans	10,835
Intercompany receivables		10,493
Total assets	12,760	11,898
Current liabilities
Accounts payable and other current liabilities	52	44
Current portion of long-term debt, capital lease obligations and short-term borrowings	98	98
Intercompany payables	124
Total current liabilities	274	142
Non-current liabilities
Long-term debt and capital lease obligations	7,036	6,358
Deferred tax liabilities	74	74
Intercompany loans	61	61
Other non-current liabilities	4	2
Total liabilities	7,449	6,637
Total stockholders’ equity	5,311	5,261
Total equity	5,311	5,261
Total liabilities and equity	12,760	11,898
Guarantor
Current assets
Cash and cash equivalents	40	(51)	21	205
Trade and other receivables, net	536	526
Prepaid expenses and other current assets	381	339
Intercompany receivables	299	141
Total current assets	1,256	955
Non-current assets
Property, plant and equipment, net	332	335
Goodwill	5,724	5,588
Other intangible assets, net	4,351	4,318
Deferred tax assets	24	25
Other non-current assets	207	171
Equity investment in subsidiaries	6,111	6,548
Intercompany loans	530
Intercompany receivables		560
Total assets	18,535	18,500
Current liabilities
Accounts payable and other current liabilities	314	418
Deferred revenues	186	159
Income tax liabilities	90	18
Current portion of long-term debt, capital lease obligations and short-term borrowings	232	298
Intercompany payables	523	428
Total current liabilities	1,345	1,321
Non-current liabilities
Long-term debt and capital lease obligations	85	87
Deferred tax liabilities	878	895
Intercompany loans	10,952	10,613
Other non-current liabilities	564	567
Total liabilities	13,824	13,483
Total stockholders’ equity	4,711	5,017
Total equity	4,711	5,017
Total liabilities and equity	18,535	18,500
Non-Guarantor
Current assets
Cash and cash equivalents	262	274	$ 268	$ 347
Trade and other receivables, net	691	714
Prepaid expenses and other current assets	166	158
Intercompany receivables	126	190
Total current assets	1,245	1,336
Non-current assets
Property, plant and equipment, net	176	198
Goodwill	1,966	2,083
Other intangible assets, net	351	397
Deferred tax assets	45	57
Other non-current assets	126	140
Equity investment in subsidiaries	2,934	2,795
Intercompany loans	187
Intercompany receivables		191
Total assets	7,030	7,197
Current liabilities
Accounts payable and other current liabilities	452	563
Deferred revenues	146	145
Income tax liabilities	49	43
Current portion of long-term debt, capital lease obligations and short-term borrowings	1	1
Intercompany payables	175	132
Total current liabilities	823	884
Non-current liabilities
Long-term debt and capital lease obligations	21	20
Deferred tax liabilities	65	56
Intercompany loans	504	570
Other non-current liabilities	351	384
Total liabilities	1,764	1,914
Total stockholders’ equity	5,191	5,206
Noncontrolling interests	75	77
Total equity	5,266	5,283
Total liabilities and equity	7,030	7,197
Eliminations
Current assets
Intercompany receivables	(837)	(560)
Total current assets	(837)	(560)
Non-current assets
Equity investment in subsidiaries	(15,213)	(15,484)
Intercompany loans	(11,552)
Intercompany receivables		(11,244)
Total assets	(27,602)	(27,288)
Current liabilities
Intercompany payables	(837)	(560)
Total current liabilities	(837)	(560)
Non-current liabilities
Intercompany loans	(11,552)	(11,244)
Total liabilities	(12,389)	(11,804)
Total stockholders’ equity	(15,213)	(15,484)
Total equity	(15,213)	(15,484)
Total liabilities and equity	$ (27,602)	$ (27,288)

Guarantor Financial Informati59

Guarantor Financial Information - Condensed Consolidating Statement of Cash Flows (Unaudited) (Detail) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Condensed Financial Statements Captions [Line Items]
Net cash provided by operating activities	$ 326	$ 300
Investing Activities
Acquisition of subsidiaries and affiliates, net of cash acquired	(197)	(192)
Additions to property, plant and equipment and other assets	(69)	(54)
Additions to intangible assets	(130)	(117)
Other investing activities	3
Net cash used in investing activities	(393)	(363)
Financing Activities
Net borrowings under revolving credit facility	(72)	25
Repayment of debt	(49)	(3,748)
Proceeds from issuances of debt, net of issuance costs	746	3,748
Cash dividends paid to stockholders	(192)	(167)
Repurchase of common stock	(320)	(48)
Activity under stock plans	26	57
Excess tax benefits from stock-based compensation	28
Settlement of intercompany and other financing activities	(12)	(41)
Net cash provided by/(used in) financing activities	155	(174)
Effect of exchange-rate changes on cash and cash equivalents	(30)	(17)
Net increase/(decrease) in cash and cash equivalents	58	(254)
Cash and cash equivalents at beginning of period	273	564
Cash and cash equivalents at end of period	331	310
Parent
Condensed Financial Statements Captions [Line Items]
Net cash provided by operating activities		1
Investing Activities
Other investing activities		9
Net cash used in investing activities		9
Financing Activities
Cash dividends paid to stockholders	(192)	(167)
Repurchase of common stock	(320)	(48)
Activity under stock plans	28	60
Settlement of intercompany and other financing activities	464	154
Net cash provided by/(used in) financing activities	(20)	(1)
Net increase/(decrease) in cash and cash equivalents	(20)	9
Cash and cash equivalents at beginning of period	49	12
Cash and cash equivalents at end of period	29	21
Issuers
Condensed Financial Statements Captions [Line Items]
Net cash provided by operating activities	258	299
Financing Activities
Repayment of debt	(49)	(3,747)
Proceeds from issuances of debt, net of issuance costs	746	3,748
Settlement of intercompany and other financing activities	(956)	(300)
Net cash provided by/(used in) financing activities	(259)	(299)
Net increase/(decrease) in cash and cash equivalents	(1)
Cash and cash equivalents at beginning of period	1
Guarantor
Condensed Financial Statements Captions [Line Items]
Net cash provided by operating activities	46	(17)
Investing Activities
Acquisition of subsidiaries and affiliates, net of cash acquired	(196)	(118)
Additions to property, plant and equipment and other assets	(49)	(38)
Additions to intangible assets	(117)	(106)
Other investing activities	3	(9)
Net cash used in investing activities	(359)	(271)
Financing Activities
Net borrowings under revolving credit facility	(72)	25
Activity under stock plans	(2)
Excess tax benefits from stock-based compensation	28
Settlement of intercompany and other financing activities	453	79
Net cash provided by/(used in) financing activities	407	104
Effect of exchange-rate changes on cash and cash equivalents	(3)
Net increase/(decrease) in cash and cash equivalents	91	(184)
Cash and cash equivalents at beginning of period	(51)	205
Cash and cash equivalents at end of period	40	21
Non-Guarantor
Condensed Financial Statements Captions [Line Items]
Net cash provided by operating activities	22	17
Investing Activities
Acquisition of subsidiaries and affiliates, net of cash acquired	(1)	(74)
Additions to property, plant and equipment and other assets	(20)	(16)
Additions to intangible assets	(13)	(11)
Net cash used in investing activities	(34)	(101)
Financing Activities
Repayment of debt		(1)
Activity under stock plans		(3)
Settlement of intercompany and other financing activities	27	26
Net cash provided by/(used in) financing activities	27	22
Effect of exchange-rate changes on cash and cash equivalents	(27)	(17)
Net increase/(decrease) in cash and cash equivalents	(12)	(79)
Cash and cash equivalents at beginning of period	274	347
Cash and cash equivalents at end of period	$ 262	$ 268