Nielsen (NLSN) 10-Q 21 Oct 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2015shares
Document Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Trading Symbol	NLSNNV
Entity Registrant Name	Nielsen Holdings plc
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	364,057,942

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Statement [Abstract]
Revenues	$ 1,531	$ 1,572	$ 4,548	$ 4,655
Cost of revenues, exclusive of depreciation and amortization shown separately below	615	648	1,885	1,967
Selling, general and administrative expenses, exclusive of depreciation and amortization shown separately below	459	468	1,405	1,439
Depreciation and amortization	144	139	432	425
Restructuring charges	15	6	43	43
Operating income	298	311	783	781
Interest income	1	1	3	3
Interest expense	(79)	(74)	(231)	(229)
Foreign currency exchange transaction gains/(losses), net	5	1	(27)	(32)
Other expense, net	0	(52)	0	(100)
Income from continuing operations before income taxes and equity in net (loss)/income of affiliates	225	187	528	423
Provision for income taxes	(82)	(95)	(206)	(202)
Equity in net (loss)/income of affiliates	(1)		(1)	2
Net income	142	92	321	223
Net income attributable to noncontrolling interests		1	2
Net income attributable to Nielsen stockholders	$ 142	$ 91	$ 319	$ 223
Net income per share of common stock, basic
Income from continuing operations	$ 0.39	$ 0.24	$ 0.87	$ 0.59
Net income attributable to Nielsen stockholders	0.39	0.24	0.87	0.59
Net income per share of common stock, diluted
Income from continuing operations	0.38	0.24	0.86	0.58
Net income attributable to Nielsen stockholders	$ 0.38	$ 0.24	$ 0.86	$ 0.58
Weighted-average shares of common stock outstanding, basic	365,498,696	380,884,561	368,323,542	379,891,241
Dilutive shares of common stock	3,999,243	5,006,830	4,135,995	5,283,261
Weighted-average shares of common stock outstanding, diluted	369,497,939	385,891,391	372,459,537	385,174,502
Dividends declared per common share	$ 0.28	$ 0.25	$ 0.81	$ 0.70

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement Of Income And Comprehensive Income [Abstract]
Net income		$ 142	$ 92	$ 321	$ 223
Other comprehensive (loss)/income, net of tax
Foreign currency translation adjustments	[1]	(148)	(169)	(285)	(136)
Available for sale securities	[2]	(4)			4
Changes in the fair value of cash flow hedges	[3]	(4)	4	(6)	3
Defined benefit pension plan adjustments	[4]	5	3	15	5
Total other comprehensive loss		(151)	(162)	(276)	(124)
Total comprehensive (loss)/income		(9)	(70)	45	99
Less: comprehensive loss attributable to noncontrolling interests		(3)	(1)	(5)	(2)
Total comprehensive (loss)/income attributable to Nielsen stockholders		$ (6)	$ (69)	$ 50	$ 101
[1]	Net of tax of (2) million and $(4) million for the three months ended September 30, 2015 and 2014, respectively, and $(14) million and $(5) million for the nine months ended September 30, 2015 and 2014, respectively
[2]	Net of tax of $3 million and zero for the three months ended September 30, 2015 and 2014, and zero and $(3) million for the nine months ended September 30, 2015 and 2014
[3]	Net of tax of $3 million and $(2) for the three months ended September 30, 2015 and 2014, respectively, and $4 million and $(2) for the nine months ended September 30, 2015 and 2014, respectively
[4]	Net of tax of $(2) million and $(1) million for the three months ended September 30, 2015 and 2014, respectively, and $(4) million and zero for the nine months ended September 30, 2015 and 2014, respectively

Condensed Consolidated Stateme4

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Statement Of Income And Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax	$ (2)	$ (4)	$ (14)	$ (5)
Available-for-sale securities, tax	3	0	0	(3)
Changes in the fair value of cash flow hedges, tax	3	(2)	4	(2)
Defined benefit pension plan adjustments, tax	$ (2)	$ (1)	$ (4)	$ 0

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Current assets
Cash and cash equivalents	$ 358	$ 273
Trade and other receivables, net of allowances for doubtful accounts and sales returns of $27 and $29 as of September 30, 2015 and December 31, 2014, respectively	1,163	1,241
Prepaid expenses and other current assets	585	505
Total current assets	2,106	2,019
Non-current assets
Property, plant and equipment, net	486	533
Goodwill	7,588	7,671
Other intangible assets, net	4,655	4,715
Deferred tax assets	73	83
Other non-current assets	369	355
Total assets	15,277	15,376
Current liabilities
Accounts payable and other current liabilities	918	1,035
Deferred revenues	299	304
Income tax liabilities	199	62
Current portion of long-term debt, capital lease obligations and short-term borrowings	339	397
Total current liabilities	1,755	1,798
Non-current liabilities
Long-term debt and capital lease obligations	7,114	6,465
Deferred tax liabilities	993	1,025
Other non-current liabilities	917	955
Total liabilities	$ 10,779	$ 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; 364,057,942 and 382,622,922 shares issued and 364,057,942 and 372,757,598 shares outstanding at September 30, 2015 and December 31, 2014, respectively	$ 32	$ 32
Additional paid-in capital	5,249	6,344
Treasury stock, at cost		(415)
Retained earnings/(accumulated deficit)	191	(128)
Accumulated other comprehensive loss, net of income taxes	(1,046)	(777)
Total Nielsen stockholders’ equity	4,426	5,056
Noncontrolling interests	72	77
Total equity	4,498	5,133
Total liabilities and equity	$ 15,277	$ 15,376

Condensed Consolidated Balance6

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) $ in Millions	Sep. 30, 2015USD ($)shares	Sep. 30, 2015€ / shares	Dec. 31, 2014USD ($)shares	Dec. 31, 2014€ / shares
Statement Of Financial Position [Abstract]
Trade and other receivables, allowances for doubtful accounts and sales returns | $	$ 27		$ 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	364,057,942		382,622,922
Common stock, shares outstanding	364,057,942		372,757,598

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Operating Activities
Net income	$ 321	$ 223
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation expense	39	36
Excess tax benefits from stock-based compensation	(30)
Currency exchange rate differences on financial transactions and other losses	29	134
Equity in net income of affiliates, net of dividends received	2	(2)
Depreciation and amortization	432	425
Changes in operating assets and liabilities, net of effect of businesses acquired and divested:
Trade and other receivables, net	32	(9)
Prepaid expenses and other current assets	(65)	(81)
Accounts payable and other current liabilities and deferred revenues	(140)	(159)
Other non-current liabilities	(4)	(6)
Interest payable	61	46
Income taxes	101	85
Net cash provided by operating activities	778	692
Investing Activities
Acquisition of subsidiaries and affiliates, net of cash acquired	(198)	(203)
Additions to property, plant and equipment and other assets	(100)	(96)
Additions to intangible assets	(206)	(178)
Net cash used in investing activities	(504)	(477)
Financing Activities
Net payments under revolving credit facility	(70)
Proceeds from issuances of debt, net of issuance costs	746	4,544
Repayment of debt	(74)	(4,573)
Cash dividends paid to stockholders	(307)	(261)
Repurchase of common stock	(493)	(75)
Proceeds from exercise of stock options	40	80
Excess tax benefits from stock-based compensation	30
Other financing activities	(16)	(91)
Net cash used in financing activities	(144)	(376)
Effect of exchange-rate changes on cash and cash equivalents	(45)	(34)
Net decrease in cash and cash equivalents	85	(195)
Cash and cash equivalents at beginning of period	273	564
Cash and cash equivalents at end of period	358	369
Supplemental Cash Flow Information
Cash paid for income taxes	(105)	(117)
Cash paid for interest, net of amounts capitalized	$ (170)	$ (183)

Background and Basis of Present

Background and Basis of Presentation	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Background and Basis of Presentation	1. Background and Basis of Presentation Background Nielsen Holdings plc (the successor issuer to Nielsen 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 registered office located in Oxford, the United Kingdom and its headquarters in 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 nine months ended September 30, 2015, Luxco sold its remaining shares of the Company’s common stock. As a result, the private equity group that held equity interests in Nielsen at the time of the January 2011 initial public offering has disposed of such interests. On August 31, 2015, Nielsen N.V., a Dutch public company listed on the New York Stock Exchange, merged with Nielsen Holdings plc, by way of a cross-border merger under the European Cross-Border Merger Directive, with Nielsen Holdings plc being the surviving company (the “Merger”). The Merger effectively changed the place of incorporation of Nielsen’s publically traded parent holding company from the Netherlands to England and Wales, with no changes made to the business being conducted by Nielsen prior to the Merger. Due to the fact that the Merger was a business combination between entities under common control, the exchange of assets and liabilities were made at carrying value. Therefore, there were no direct accounting implications in the Company’s condensed consolidated financial statements. 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 September 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 57,600 and 92,800 shares of common stock equivalents under stock compensation plans were excluded from the calculation of diluted earnings per share for the three months ended September 30, 2015 and 2014, respectively, as such shares would have been anti-dilutive. The effect of 1,608,433 and 92,800 shares of common stock equivalents under stock compensation plans were excluded from the calculation of diluted earnings per share for the nine months ended September 30, 2015 and 2014, respectively, as such shares would have been anti-dilutive. Devaluation 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 third 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 September 30, 2015, the SIMADI exchange rate was 199.4 bolivars to the U.S. dollar. As a result of this change, Nielsen has recorded a pre-tax charge of $1 million and $9 million during the three and nine months ended September 30, 2015, respectively. 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 September 30, 2015 SIMADI rate totaled $3 million.

Summary of Recent Accounting Pr

Summary of Recent Accounting Pronouncements	9 Months Ended
	Sep. 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 and Dispo

Business Acquisitions and Dispositions	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Business Acquisitions and Dispositions	3. Business Acquisitions and Dispositions For the nine months ended September 30, 2015, Nielsen paid cash consideration of $198 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. In the third quarter of 2015, management approved a plan to sell National Research Group, Inc. (“NRG”), a leader in providing market research to movie studios. NRG is part of the Company’s Watch segment. As of September 30, 2015, Nielsen classified the net assets of NRG as held for sale. As of September 30, 2015, the Company’s condensed consolidated balance sheet included $22 million of assets in prepaid expenses and other current assets and $6 million of liabilities in accounts payable and other current liabilities classified as held for sale related to this business. The Company expects the sale to be completed during the fourth quarter of 2015. For the nine months ended September 30, 2014, Nielsen paid cash consideration of $203 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	9 Months Ended
	Sep. 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 nine months ended September 30, 2015. (IN MILLIONS) Buy Watch Total Balance, December 31, 2014 $ 3,014 $ 4,657 $ 7,671 Acquisitions, divestitures and other adjustments 3 129 132 Effect of foreign currency translation (195 ) (20 ) (215 ) Balance, September 30, 2015 $ 2,822 $ 4,766 $ 7,588 At September 30, 2015, $64 million of the goodwill is expected to be deductible for income tax purposes. Other Intangible Assets Gross Amounts Accumulated Amortization September 30, December 31, September 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 166 166 (81 ) (68 ) Customer-related intangibles 2,959 2,938 (1,178 ) (1,054 ) Covenants-not-to-compete 38 36 (35 ) (30 ) Computer software 2,164 1,935 (1,319 ) (1,157 ) Patents and other 105 105 (85 ) (77 ) Total $ 5,432 $ 5,180 $ (2,698 ) $ (2,386 ) Amortization expense associated with the above intangible assets was $102 million and $99 million for the three months ended September 30, 2015 and 2014, respectively. These amounts included amortization expense associated with computer software of $56 million and $52 million for the three months ended September 30, 2015 and 2014, respectively. Amortization expense associated with the above intangible assets was $305 million and $300 million for the nine months ended September 30, 2015 and 2014, respectively. These amounts included amortization expense associated with computer software of $165 million and $160 million for the nine months ended September 30, 2015 and 2014, respectively.

Changes in and Reclassification

Changes in and Reclassification out of Accumulated Other Comprehensive Loss by Component	9 Months Ended
	Sep. 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 nine months ended September 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 (285 ) — (11 ) 2 (294 ) Amounts reclassified from accumulated other comprehensive (loss)/income — — 5 13 18 Net current period other comprehensive (loss)/income (285 ) — (6 ) 15 (276 ) Net current period other comprehensive loss attributable to noncontrolling interest (7 ) — — — (7 ) Net current period other comprehensive (loss)/income attributable to Nielsen stockholders (278 ) — (6 ) 15 (269 ) Balance September 30, 2015 $ (696 ) $ 19 $ (8 ) $ (361 ) $ (1,046 ) 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 (loss)/income before reclassifications (136 ) 4 (4 ) — (136 ) Amounts reclassified from accumulated other comprehensive (loss)/income — — 7 5 12 Net current period other comprehensive (loss)/income (136 ) 4 3 5 (124 ) Net current period other comprehensive loss attributable to noncontrolling interest (2 ) — — — (2 ) Net current period other comprehensive (loss)/income attributable to Nielsen stockholders (134 ) 4 3 5 (122 ) Balance September 30, 2014 $ (258 ) $ 13 $ (2 ) $ (262 ) $ (509 ) The table below summarizes the reclassification of accumulated other comprehensive loss by component for the three months ended September 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 September 30, 2015 September 30, 2014 Statement of Operations Cash flow hedges Interest rate contracts $ 3 $ 4 Interest expense 2 2 Benefit for income taxes $ 1 $ 2 Total, net of tax Amortization of Post-Employment Benefits Actuarial loss $ 5 $ 3 (a) 2 1 Benefit for income taxes $ 3 $ 2 Total, net of tax Total reclassification for the period $ 4 $ 4 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 nine months ended September 30, 2015 and 2014, respectively. Amount Reclassified from Accumulated Other (IN MILLIONS) Comprehensive Loss Details about Accumulated Affected Line Item in the Other Comprehensive Nine Months Ended Nine Months Ended Condensed Consolidated Income components September 30, 2015 September 30, 2014 Statement of Operations Cash flow hedges Interest rate contracts $ 9 $ 12 Interest expense 4 5 Benefit for income taxes $ 5 $ 7 Total, net of tax Amortization of Post-Employment Benefits Actuarial loss $ 17 $ 9 (a) 4 4 Benefit for income taxes $ 13 $ 5 Total, net of tax Total reclassification for the period $ 18 $ 12 Net of tax (a) This accumulated other comprehensive loss component is included in the computation of net periodic pension cost.

Restructuring Activities

Restructuring Activities	9 Months Ended
	Sep. 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 43 Payments (63 ) Effect of foreign currency translation and other adjustments (7 ) Balance at September 30, 2015 $ 45 Nielsen recorded $15 million in restructuring charges for the three months ended September 30, 2015, primarily relating to severance and contract termination costs. Nielsen recorded $6 million in restructuring charges for the three months ended September 30, 2014, primarily relating to severance costs. Nielsen recorded $43 million in restructuring charges for the nine months ended September 30, 2015 and 2014, respectively, primarily relating to severance costs. Of the $45 million in remaining liabilities for restructuring actions, $36 million is expected to be paid within one year and is classified as a current liability within the condensed consolidated balance sheet as of September 30, 2015.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 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 September 30, 2015 and December 31, 2014: September 30, (IN MILLIONS) 2015 Level 1 Level 2 Level 3 Assets: Investments in equity securities (1) $ 45 $ 45 — — Plan assets for deferred compensation (2) 29 29 — — Investment in mutual funds (3) 2 2 — — Total $ 76 $ 76 $ — — Liabilities: Interest rate swap arrangements (4) $ 15 — $ 15 — Deferred compensation liabilities (5) 29 29 — — Total $ 44 $ 29 $ 15 — 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 nine months ended September 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 September 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 nine months ended September 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. Nielsen had no foreign currency derivative financial instruments outstanding as of September 30, 2015 and December 31, 2014. 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. In July 2015, the Company entered into a $150 million in notional amount of three-year forward interest rate swap agreement with a starting date in July 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 1.62%. This derivative instrument has been designated as an interest rate cash flow hedge. As of September 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 $ 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 US Dollar term loan floating-to-fixed rate swaps $ 150,000,000 July 2019 US Dollar Nielsen expects to recognize approximately $8 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 September 30, 2015 and December 31, 2014 were as follows: September 30, 2015 December 31, 2014 Accounts Payable Accounts Payable Derivatives Designated as Hedging Instruments and Other Current Other Non-Current Other Non- and Other Current Other Non-Current (IN MILLIONS) Liabilities Liabilities Current Assets Liabilities Liabilities Interest rate swaps $ 3 $ 12 $ 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 September 30, 2015 and 2014 was as follows: Amount of Loss Amount of Loss/(Gain) 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 September 30, Portion) September 30, (IN MILLIONS) 2015 2014 2015 2014 Interest rate swaps $ 9 $ (3 ) Interest expense $ 3 $ 4 The pre-tax effect of derivative instruments in cash flow hedging relationships for the nine months ended September 30, 2015 and 2014 was as follows: Amount of Loss Amount of Loss Reclassified from OCI Recognized in OCI Location of Loss into Income (Effective Portion) Reclassified from OCI (Effective Portion) Derivatives in Cash Flow Nine Months Ended into Income (Effective Nine Months Ended Hedging Relationships September 30, Portion) September 30, (IN MILLIONS) 2015 2014 2015 2014 Interest rate swaps $ 19 $ 6 Interest expense $ 9 $ 12 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 nine months ended September 30, 2015.

Long-term Debt and Other Financ

Long-term Debt and Other Financing Arrangements	9 Months Ended
	Sep. 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 September 30, 2015. September 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 2.20%) due 2019 1,481 1,474 1,542 1,533 $500 million Senior secured term loan (LIBOR based variable rate of 2.45%) due 2017 494 493 497 493 $1,100 million Senior secured term loan (LIBOR based variable rate of 3.20%) due 2021 1,086 1,089 1,094 1,088 €286 million Senior secured term loan (Euro LIBOR based variable rate of 2.89%) due 2021 316 316 345 343 $575 million senior secured revolving credit facility (Euro LIBOR or LIBOR based variable rate) due 2019 210 206 280 274 Total senior secured credit facilities (with weighted-average interest rate) 2.69 % 3,587 3,578 2.65 % 3,758 3,731 $800 million 4.50% senior debenture loan due 2020 800 803 800 801 $1,550 million 5.00% senior debenture loan due 2022 - - 1,553 1,554 $625 million 5.50% senior debenture loan due 2021 625 626 625 633 $2,300 million 5.00% senior debenture loan due 2022 2,308 2,233 - - Total debenture loans (with weighted-average interest rate) 5.22 % 3,733 3,662 5.23 % 2,978 2,988 Other loans 9 9 8 8 Total long-term debt 3.98 % 7,329 7,249 3.79 % 6,744 6,727 Capital lease and other financing obligations 124 118 Total debt and other financing arrangements 7,453 6,862 Less: Current portion of long-term debt, capital lease and other financing obligations and other short-term borrowings 339 397 Non-current portion of long-term debt and capital lease and other financing obligations $ 7,114 $ 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 October 1, 2015 to December 31, 2015 $ 235 2016 122 2017 641 2018 212 2019 1,041 2020 814 Thereafter 4,264 $ 7,329 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	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Stockholders' Equity	9. Stockholders’ Equity Common stock activity is as follows: Nine Months Ended September 30, 2015 Actual number of shares of common stock outstanding Beginning of period 372,757,598 Shares of common stock issued through compensation plans 2,132,408 Shares of common stock issued through business combinations 47,413 Repurchases of common stock (10,879,477 ) End of period 364,057,942 As a result of the Merger, the consideration paid for Nielsen shares, including any incremental directly attributable costs, is recorded as a deduction from shareholders’ equity. When such shares are sold, any consideration received, net of any directly attributable costs, is recorded within shareholders’ equity. Thus, all cumulative shares of Nielsen treasury stock have been cancelled and included within Nielsen’s share capital. 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 nine months ended September 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 July 23, 2015 August 27, 2015 September 10, 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 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 July 1-31 1,310,000 $ 45.37 1,310,000 $ 643,345,777 August 1-31 1,853,142 $ 47.25 1,853,142 $ 555,793,238 September 1-30 553,756 $ 47.39 553,756 $ 529,551,668 Total 22,062,460 $ 43.99 22,062,460

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	10. Income Taxes The effective tax rates for the three months ended September 30, 2015 and 2014 were 36% and 51%, respectively. The tax rate for the three months ended September 30, 2015 was higher than the United Kingdom statutory rate of 20% 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 reserves for uncertain tax positions offset by the favorable impact of certain financing activities. The tax rate for the three months ended September 30, 2014 was higher than the statutory rate in the Netherlands of 25% as a result of the impact of tax rate differences in other jurisdictions where the Company files tax returns, residual tax expense on foreign source income, reserves for uncertain tax positions, and state and local income taxes offset by the favorable impact of certain financing activities. The effective tax rates for the nine months ended September 30, 2015 and 2014 were 39% and 48%, respectively. The tax rate for the nine months ended September 30, 2015 was higher than the United Kingdom 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, audit settlements, and reserves for uncertain tax positions offset by the favorable impact of certain financing activities and release of tax contingencies. The tax rate for the nine months ended September 30, 2014 was higher than the statutory rate in the Netherlands as a result of the impact of tax rate differences in other jurisdictions where the Company files tax returns, residual tax expense on foreign source income, reserves for uncertain tax positions, and state and local income taxes offset by the favorable impact of certain financing activities. The estimated liability for unrecognized income tax benefits as of December 31, 2015 is $463 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	9 Months Ended
	Sep. 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	9 Months Ended
	Sep. 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 September 30, 2015 Revenues $ 816 $ 715 $ — $ 1,531 Depreciation and amortization $ 51 $ 92 $ 1 $ 144 Restructuring charges $ 11 $ 4 $ — $ 15 Stock-based compensation expense $ 4 $ 1 $ 7 $ 12 Other items (1) $ — $ 3 $ 7 $ 10 Operating income/(loss) $ 91 $ 234 $ (27 ) $ 298 Business segment income/(loss) (2) $ 157 $ 334 $ (12 ) $ 479 Total assets as of September 30, 2015 $ 6,638 $ 8,417 $ 222 $ 15,277 (IN MILLIONS) Three Months Ended September 30, 2014 Revenues $ 878 $ 694 $ — $ 1,572 Depreciation and amortization $ 55 $ 83 $ 1 $ 139 Restructuring charges $ 4 $ 1 $ 1 $ 6 Stock-based compensation expense $ 3 $ 2 $ 7 $ 12 Other items (1) $ — $ 5 $ 4 $ 9 Operating income/(loss) $ 109 $ 226 $ (24 ) $ 311 Business segment income/(loss) (2) $ 171 $ 317 $ (11 ) $ 477 Total assets as of December 31, 2014 $ 6,869 $ 8,156 $ 351 $ 15,376 (IN MILLIONS) Buy Watch Corporate Total Nine Months Ended September 30, 2015 Revenues $ 2,466 $ 2,082 $ — $ 4,548 Depreciation and amortization $ 157 $ 272 $ 3 $ 432 Restructuring charges $ 28 $ 12 $ 3 $ 43 Stock-based compensation expense $ 13 $ 5 $ 21 $ 39 Other items (1) $ — $ 3 $ 27 $ 30 Operating income/(loss) $ 231 $ 634 $ (82 ) $ 783 Business segment income/(loss) (2) $ 429 $ 926 $ (28 ) $ 1,327 (IN MILLIONS) Nine Months Ended September 30, 2014 Revenues $ 2,615 $ 2,040 $ — $ 4,655 Depreciation and amortization $ 166 $ 256 $ 3 $ 425 Restructuring charges $ 26 $ 11 $ 6 $ 43 Stock-based compensation expense $ 12 $ 8 $ 16 $ 36 Other items (1) $ — $ 8 $ 20 $ 28 Operating income/(loss) $ 252 $ 602 $ (73 ) $ 781 Business segment income/(loss) (2) $ 456 $ 885 $ (28 ) $ 1,313 (1) Other items primarily consist of non-recurring costs for the three and nine months ended September 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	9 Months Ended
	Sep. 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 September 30, 2015 and December 31, 2014 and consolidating statements of operations and cash flows for the periods ended September 30, 2015 and 2014. During the three months ended September 30, 2015, the Company re-designated certain subsidiaries between guarantor and non-guarantor. As a result, the Company adjusted prior periods to reflect the current year structure. 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 Holdings plc Condensed Consolidating Statement of Comprehensive Income (Unaudited) For the three months ended September 30, 2015 (IN MILLIONS) Parent Issuers Guarantor Non- Guarantor Elimination Consolidated Revenues — — $ 907 $ 624 — $ 1,531 Cost of revenues, exclusive of depreciation and amortization shown separately below — — 328 287 — 615 Selling, general and administrative expenses, exclusive of depreciation and amortization shown separately below 3 — 236 220 — 459 Depreciation and amortization — — 119 25 — 144 Restructuring charges — — 8 7 — 15 Operating (loss)/income (3 ) — 216 85 — 298 Interest income — 227 9 1 (236 ) 1 Interest expense — (74 ) (231 ) (10 ) 236 (79 ) Foreign currency exchange transaction gains, net — — 4 1 — 5 Other income/(expense), net — — 106 (106 ) — — (Loss)/income from continuing operations before income taxes and equity in net income/(loss) of subsidiaries and affiliates (3 ) 153 104 (29 ) — 225 (Provision)/benefit for income taxes — (53 ) (38 ) 9 — (82 ) Equity in net income of subsidiaries 145 — 79 — (224 ) — Equity in net loss of affiliates — — — (1 ) — (1 ) Net income/(loss) 142 100 145 (21 ) (224 ) 142 Total other comprehensive loss (148 ) (147 ) (148 ) (125 ) 417 (151 ) Total other comprehensive loss attributable to noncontrolling interests — — — (3 ) — (3 ) Total other comprehensive loss attributable to controlling interests (148 ) (147 ) (148 ) (122 ) 417 (148 ) Total comprehensive loss (6 ) (47 ) (3 ) (146 ) 193 (9 ) Comprehensive loss attributable to noncontrolling interests — — — (3 ) — (3 ) Total comprehensive loss attributable to controlling interest $ (6 ) $ (47 ) $ (3 ) $ (143 ) 193 $ (6 ) Nielsen Holdings plc Condensed Consolidating Statement of Comprehensive Income (Unaudited) For the three months ended September 30, 2014 (IN MILLIONS) Parent Issuers Guarantor Non- Guarantor Elimination Consolidated Revenues — — $ 851 $ 721 — $ 1,572 Cost of revenues, exclusive of depreciation and amortization shown separately below — — 311 337 — 648 Selling, general and administrative expenses, exclusive of depreciation and amortization shown separately below 2 — 230 236 — 468 Depreciation and amortization — — 108 31 — 139 Restructuring charges — — 5 1 — 6 Operating (loss)/income (2 ) — 197 116 — 311 Interest income — 215 11 2 (227 ) 1 Interest expense — (70 ) (219 ) (12 ) 227 (74 ) Foreign currency exchange transaction gains/(losses), net — — 3 (2 ) — 1 Other (expense)/income, net — (51 ) 77 (78 ) — (52 ) (Loss)/income from continuing operations before income taxes and equity in net income/(loss) of subsidiaries and affiliates (2 ) 94 69 26 — 187 Provision for income taxes — (22 ) (58 ) (15 ) — (95 ) Equity in net income/(loss) of subsidiaries 93 (74 ) 82 — (101 ) — Net income/(loss) 91 (2 ) 93 11 (101 ) 92 Less net income attributable to noncontrolling interests — — — 1 — 1 Net income/(loss) attributable to controlling interest 91 (2 ) 93 10 (101 ) 91 Total other comprehensive loss (160 ) (167 ) (160 ) (261 ) 586 (162 ) Other comprehensive loss attributable to noncontrolling interests — — — (2 ) — (2 ) Total other comprehensive loss attributable to controlling interest (160 ) (167 ) (160 ) (259 ) 586 (160 ) Total comprehensive loss (69 ) (169 ) (67 ) (250 ) 485 (70 ) Comprehensive loss attributable to noncontrolling interests — — — (1 ) — (1 ) Total comprehensive loss attributable to controlling interest $ (69 ) $ (169 ) $ (67 ) $ (249 ) 485 $ (69 ) Nielsen Holdings plc Condensed Consolidated Statement of Comprehensive Income (Unaudited) For the nine months ended September 30, 2015 (IN MILLIONS) Parent Issuers Guarantor Non- Guarantor Elimination Consolidated Revenues — — $ 2,652 $ 1,896 — $ 4,548 Cost of revenues, exclusive of depreciation and amortization shown separately below — — 960 925 — 1,885 Selling, general and administrative expenses, exclusive of depreciation and amortization shown separately below 6 — 743 656 — 1,405 Depreciation and amortization — — 352 80 — 432 Restructuring charges — — 27 16 — 43 Operating (loss)/income (6 ) — 570 219 — 783 Interest income — 664 28 4 (693 ) 3 Interest expense — (217 ) (676 ) (31 ) 693 (231 ) Foreign currency exchange transaction losses, net — — (7 ) (20 ) — (27 ) Other income/(expense), net — — 135 (135 ) — — (Loss)/income from continuing operations before income taxes and equity in net income/(loss) of subsidiaries and affiliates (6 ) 447 50 37 — 528 Provision for income taxes — (156 ) (24 ) (26 ) — (206 ) Equity in net income of subsidiaries 325 5 299 — (629 ) — Equity in net loss of affiliates — — — (1 ) — (1 ) Net income 319 296 325 10 (629 ) 321 Less net income attributable to noncontrolling interests — — — 2 — 2 Net income attributable to controlling interest 319 296 325 8 (629 ) 319 Total other comprehensive loss (269 ) (265 ) (269 ) (262 ) 789 (276 ) Other comprehensive loss attributable to noncontrolling interests — — — (7 ) — (7 ) Total other comprehensive loss attributable to controlling interest (269 ) (265 ) (269 ) (255 ) 789 (269 ) Total comprehensive income/(loss) 50 31 56 (252 ) 160 45 Comprehensive loss attributable to noncontrolling interests — — — (5 ) — (5 ) Total comprehensive income/(loss) attributable to controlling interest $ 50 $ 31 $ 56 $ (247 ) 160 $ 50 Nielsen Holdings plc Condensed Consolidated Statement of Comprehensive Income (Unaudited) For the nine months ended September 30, 2014 (IN MILLIONS) Parent Issuers Guarantor Non- Guarantor Elimination Consolidated Revenues $ - $ - $ 2,505 $ 2,150 $ - $ 4,655 Cost of revenues, exclusive of depreciation and amortization shown separately below - - 947 1,020 - 1,967 Selling, general and administrative expenses, exclusive of depreciation and amortization shown seperately below 3 - 717 719 - 1,439 Depreciation and amortization - - 333 92 - 425 Restructuring charges - - 29 14 - 43 Operating (loss)/income (3 ) - 479 305 - 781 Interest income - 636 34 7 (674 ) 3 Interest expense - (217 ) (649 ) (37 ) 674 (229 ) Foreign currency exchange transaction gains/(losses), net - - 3 (35 ) - (32 ) Other (expense)/income, net - (96 ) 21 (25 ) - (100 ) (Loss)/income from continuing operations before income taxes and equity in net income/(loss) of subsidiaries and affiliates (3 ) 323 (112 ) 215 - 423 Benefit/(provision) for income taxes 5 (80 ) (54 ) (73 ) - (202 ) Equity in net income of subsidiaries 221 87 388 - (696 ) - Equity in net (loss)/income of affiliates - - (1 ) 3 - 2 Net income 223 330 221 145 (696 ) 223 Total other comprehensive loss (122 ) (145 ) (122 ) (235 ) 500 (124 ) Other comprehensive loss attributable to noncontrolling interests - - - (2 ) - (2 ) Total other comprehensive loss attributable to controlling interest (122 ) (145 ) (122 ) (233 ) 500 (122 ) Total comprehensive income/(loss) 101 185 99 (90 ) (196 ) 99 Comprehensive loss attributable to noncontrolling interests - - - (2 ) - (2 ) Total comprehensive income/(loss) attributable to controlling interest $ 101 $ 185 $ 99 $ (88 ) $ (196 ) $ 101 Nielsen Holdings plc Condensed Consolidating Balance Sheet (Unaudited) September 30, 2015 (IN MILLIONS) Parent Issuers Guarantor Non-Guarantor Elimination Consolidated Assets: Current assets Cash and cash equivalents $ 1 $ (1 ) $ 13 $ 345 $ — $ 358 Trade and other receivables, net — — 529 634 — 1,163 Prepaid expenses and other current assets — 10 413 162 — 585 Intercompany receivables — 525 364 135 (1,024 ) — Total current assets 1 534 1,319 1,276 (1,024 ) 2,106 Non-current assets Property, plant and equipment, net — — 319 167 — 486 Goodwill — — 5,709 1,879 — 7,588 Other intangible assets, net — — 4,331 324 — 4,655 Deferred tax assets 1 3 27 42 — 73 Other non-current assets — 45 210 114 — 369 Equity investment in subsidiaries 4,554 1,156 3,275 — (8,985 ) — Intercompany loans — 10,836 3,457 165 (14,458 ) — Total assets $ 4,556 $ 12,574 $ 18,647 $ 3,967 $ (24,467 ) $ 15,277 Liabilities and equity: Current liabilities Accounts payable and other current liabilities $ 1 $ 97 $ 354 $ 466 $ — $ 918 Deferred revenues — — 168 131 — 299 Income tax liabilities 1 — 154 44 — 199 Current portion of long-term debt, capital lease obligations and short-term borrowings — 108 230 1 — 339 Intercompany payables — 63 660 301 (1,024 ) — Total current liabilities 2 268 1,566 943 (1,024 ) 1,755 Non-current liabilities Long-term debt and capital lease obligations — 7,002 91 21 — 7,114 Deferred tax liabilities — 74 862 57 — 993 Intercompany loans 126 2,985 11,001 346 (14,458 ) — Other non-current liabilities 2 11 573 331 — 917 Total liabilities 130 10,340 14,093 1,698 (15,482 ) 10,779 Total stockholders’ equity 4,426 2,234 4,554 2,197 (8,985 ) 4,426 Noncontrolling interests — — — 72 — 72 Total equity 4,426 2,234 4,554 2,269 (8,985 ) 4,498 Total liabilities and equity $ 4,556 $ 12,574 $ 18,647 $ 3,967 $ (24,467 ) $ 15,277 Nielsen Holdings plc 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 1 227 234 190 (652 ) — Total current assets 51 236 1,048 1,336 (652 ) 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 6,596 — (12,737 ) — Intercompany receivables — 10,494 492 191 (11,177 ) — Total assets $ 5,069 $ 11,898 $ 18,573 $ 4,402 $ (24,566 ) $ 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 — — 429 223 (652 ) — Total current liabilities 11 142 1,322 975 (652 ) 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 10,685 431 (11,177 ) — Other non-current liabilities 2 2 567 384 — 955 Total liabilities 13 6,637 13,556 1,866 (11,829 ) 10,243 Total stockholders’ equity 5,056 5,261 5,017 2,459 (12,737 ) 5,056 Noncontrolling interests — — — 77 — 77 Total equity 5,056 5,261 5,017 2,536 (12,737 ) 5,133 Total liabilities and equity $ 5,069 $ 11,898 $ 18,573 $ 4,402 $ (24,566 ) $ 15,376 Nielsen Holdings plc Condensed Consolidating Statement of Cash Flows (Unaudited) For the nine months ended September 30, 2015 (IN MILLIONS) Parent Issuers Guarantor Non- Consolidated Net cash (used in)/provided by operating $ (2 ) $ 299 $ 308 $ 173 $ 778 Investing activities: Acquisition of subsidiaries and affiliates, net of — — (197 ) (1 ) (198 ) Additions to property, plant and equipment and — — (66 ) (34 ) (100 ) Additions to intangible assets — — (183 ) (23 ) (206 ) Net cash used in investing activities — — (446 ) (58 ) (504 ) Financing activities: Net repayments under revolving credit facility — — (70 ) — (70 ) Repayments of debt — (74 ) — — (74 ) Proceeds from the issuance of debt, net of issuance costs 746 746 Cash dividends paid to stockholders (307 ) — — — (307 ) Repurchase of common stock (493 ) — — — (493 ) Activity under stock plans 46 — (6 ) — 40 Excess tax benefits from stock-based compensation — — 30 — 30 Settlement of intercompany and other financing activities 708 (973 ) 250 (1 ) (16 ) Net cash (used in)/provided by financing (46 ) (301 ) 204 (1 ) (144 ) Effect of exchange-rate changes on cash — — (2 ) (43 ) (45 ) Net (decrease)/increase in cash and cash equivalents (48 ) (2 ) 64 71 85 Cash and cash equivalents at beginning 49 1 (51 ) 274 273 Cash and cash equivalents at end of period $ 1 $ (1 ) $ 13 $ 345 $ 358 Nielsen Holdings plc Condensed Consolidated Statement of Cash Flows (Unaudited) For the nine months ended September 30, 2014 (IN MILLIONS) Parent Issuers Guarantor Non-Guarantor Consolidated Net cash provided by operating activities $ 2 $ 452 $ 109 $ 129 $ 692 Investing activities: Acquisition of subsidiaries and affiliates, net of - - (121 ) (82 ) (203 ) Additions to property, plant and equipment and other assets - - (63 ) (33 ) (96 ) Additions to intangible assets - - (159 ) (19 ) (178 ) Other investing activities 5 - (5 ) - - Net cash provided by/(used in) investing 5 - (348 ) (134 ) (477 ) Financing activities: Repayments of debt - (4,572 ) - (1 ) (4,573 ) Proceeds from the issuance of debt, net of issuance costs - 4,544 - - 4,544 Cash dividends paid to stockholders (261 ) - - - (261 ) Repurchase of common stock (75 ) - - - (75 ) Proceeds from the exercise of stock options 91 - (6 ) (5 ) 80 Settlement of intercompany and other financing activities 240 (404 ) 59 14 (91 ) Net cash (used in)/provided by financing (5 ) (432 ) 53 8 (376 ) Effect of exchange-rate changes on cash and cash equivalents - - - (34 ) (34 ) Net increase/(decrease) in cash and cash equivalents 2 20 (186 ) (31 ) (195 ) Cash and cash equivalents at beginning of 12 - 205 347 564 Cash and cash equivalents at end of period $ 14 $ 20 $ 19 $ 316 $ 369

Background and Basis of Prese21

Background and Basis of Presentation (Policies)	9 Months Ended
	Sep. 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 September 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 57,600 and 92,800 shares of common stock equivalents under stock compensation plans were excluded from the calculation of diluted earnings per share for the three months ended September 30, 2015 and 2014, respectively, as such shares would have been anti-dilutive. The effect of 1,608,433 and 92,800 shares of common stock equivalents under stock compensation plans were excluded from the calculation of diluted earnings per share for the nine months ended September 30, 2015 and 2014, respectively, as such shares would have been anti-dilutive.
Devaluation of Venezuelan Currency	Devaluation 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 third 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 September 30, 2015, the SIMADI exchange rate was 199.4 bolivars to the U.S. dollar. As a result of this change, Nielsen has recorded a pre-tax charge of $1 million and $9 million during the three and nine months ended September 30, 2015, respectively. 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 September 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)	9 Months Ended
	Sep. 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 nine months ended September 30, 2015. (IN MILLIONS) Buy Watch Total Balance, December 31, 2014 $ 3,014 $ 4,657 $ 7,671 Acquisitions, divestitures and other adjustments 3 129 132 Effect of foreign currency translation (195 ) (20 ) (215 ) Balance, September 30, 2015 $ 2,822 $ 4,766 $ 7,588
Other Intangible Assets	Gross Amounts Accumulated Amortization September 30, December 31, September 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 166 166 (81 ) (68 ) Customer-related intangibles 2,959 2,938 (1,178 ) (1,054 ) Covenants-not-to-compete 38 36 (35 ) (30 ) Computer software 2,164 1,935 (1,319 ) (1,157 ) Patents and other 105 105 (85 ) (77 ) Total $ 5,432 $ 5,180 $ (2,698 ) $ (2,386 )

Changes in and Reclassificati23

Changes in and Reclassification out of Accumulated Other Comprehensive Loss by Component (Tables)	9 Months Ended
	Sep. 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 nine months ended September 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 (285 ) — (11 ) 2 (294 ) Amounts reclassified from accumulated other comprehensive (loss)/income — — 5 13 18 Net current period other comprehensive (loss)/income (285 ) — (6 ) 15 (276 ) Net current period other comprehensive loss attributable to noncontrolling interest (7 ) — — — (7 ) Net current period other comprehensive (loss)/income attributable to Nielsen stockholders (278 ) — (6 ) 15 (269 ) Balance September 30, 2015 $ (696 ) $ 19 $ (8 ) $ (361 ) $ (1,046 ) 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 (loss)/income before reclassifications (136 ) 4 (4 ) — (136 ) Amounts reclassified from accumulated other comprehensive (loss)/income — — 7 5 12 Net current period other comprehensive (loss)/income (136 ) 4 3 5 (124 ) Net current period other comprehensive loss attributable to noncontrolling interest (2 ) — — — (2 ) Net current period other comprehensive (loss)/income attributable to Nielsen stockholders (134 ) 4 3 5 (122 ) Balance September 30, 2014 $ (258 ) $ 13 $ (2 ) $ (262 ) $ (509 )
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 September 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 September 30, 2015 September 30, 2014 Statement of Operations Cash flow hedges Interest rate contracts $ 3 $ 4 Interest expense 2 2 Benefit for income taxes $ 1 $ 2 Total, net of tax Amortization of Post-Employment Benefits Actuarial loss $ 5 $ 3 (a) 2 1 Benefit for income taxes $ 3 $ 2 Total, net of tax Total reclassification for the period $ 4 $ 4 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 nine months ended September 30, 2015 and 2014, respectively. Amount Reclassified from Accumulated Other (IN MILLIONS) Comprehensive Loss Details about Accumulated Affected Line Item in the Other Comprehensive Nine Months Ended Nine Months Ended Condensed Consolidated Income components September 30, 2015 September 30, 2014 Statement of Operations Cash flow hedges Interest rate contracts $ 9 $ 12 Interest expense 4 5 Benefit for income taxes $ 5 $ 7 Total, net of tax Amortization of Post-Employment Benefits Actuarial loss $ 17 $ 9 (a) 4 4 Benefit for income taxes $ 13 $ 5 Total, net of tax Total reclassification for the period $ 18 $ 12 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)	9 Months Ended
	Sep. 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 43 Payments (63 ) Effect of foreign currency translation and other adjustments (7 ) Balance at September 30, 2015 $ 45

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 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 September 30, 2015 and December 31, 2014: September 30, (IN MILLIONS) 2015 Level 1 Level 2 Level 3 Assets: Investments in equity securities (1) $ 45 $ 45 — — Plan assets for deferred compensation (2) 29 29 — — Investment in mutual funds (3) 2 2 — — Total $ 76 $ 76 $ — — Liabilities: Interest rate swap arrangements (4) $ 15 — $ 15 — Deferred compensation liabilities (5) 29 29 — — Total $ 44 $ 29 $ 15 — 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 nine months ended September 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 September 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 $ 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 US Dollar term loan floating-to-fixed rate swaps $ 150,000,000 July 2019 US Dollar
Fair Values of Derivative Instruments in Consolidated Balance Sheets	The fair values of the Company’s derivative instruments as of September 30, 2015 and December 31, 2014 were as follows: September 30, 2015 December 31, 2014 Accounts Payable Accounts Payable Derivatives Designated as Hedging Instruments and Other Current Other Non-Current Other Non- and Other Current Other Non-Current (IN MILLIONS) Liabilities Liabilities Current Assets Liabilities Liabilities Interest rate swaps $ 3 $ 12 $ 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 September 30, 2015 and 2014 was as follows: Amount of Loss Amount of Loss/(Gain) 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 September 30, Portion) September 30, (IN MILLIONS) 2015 2014 2015 2014 Interest rate swaps $ 9 $ (3 ) Interest expense $ 3 $ 4 The pre-tax effect of derivative instruments in cash flow hedging relationships for the nine months ended September 30, 2015 and 2014 was as follows: Amount of Loss Amount of Loss Reclassified from OCI Recognized in OCI Location of Loss into Income (Effective Portion) Reclassified from OCI (Effective Portion) Derivatives in Cash Flow Nine Months Ended into Income (Effective Nine Months Ended Hedging Relationships September 30, Portion) September 30, (IN MILLIONS) 2015 2014 2015 2014 Interest rate swaps $ 19 $ 6 Interest expense $ 9 $ 12

Long-term Debt and Other Fina26

Long-term Debt and Other Financing Arrangements (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Summary of Long-Term Debt	Unless otherwise stated, interest rates are as of September 30, 2015. September 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 2.20%) due 2019 1,481 1,474 1,542 1,533 $500 million Senior secured term loan (LIBOR based variable rate of 2.45%) due 2017 494 493 497 493 $1,100 million Senior secured term loan (LIBOR based variable rate of 3.20%) due 2021 1,086 1,089 1,094 1,088 €286 million Senior secured term loan (Euro LIBOR based variable rate of 2.89%) due 2021 316 316 345 343 $575 million senior secured revolving credit facility (Euro LIBOR or LIBOR based variable rate) due 2019 210 206 280 274 Total senior secured credit facilities (with weighted-average interest rate) 2.69 % 3,587 3,578 2.65 % 3,758 3,731 $800 million 4.50% senior debenture loan due 2020 800 803 800 801 $1,550 million 5.00% senior debenture loan due 2022 - - 1,553 1,554 $625 million 5.50% senior debenture loan due 2021 625 626 625 633 $2,300 million 5.00% senior debenture loan due 2022 2,308 2,233 - - Total debenture loans (with weighted-average interest rate) 5.22 % 3,733 3,662 5.23 % 2,978 2,988 Other loans 9 9 8 8 Total long-term debt 3.98 % 7,329 7,249 3.79 % 6,744 6,727 Capital lease and other financing obligations 124 118 Total debt and other financing arrangements 7,453 6,862 Less: Current portion of long-term debt, capital lease and other financing obligations and other short-term borrowings 339 397 Non-current portion of long-term debt and capital lease and other financing obligations $ 7,114 $ 6,465
Annual Maturities of Long-Term Debt	Annual maturities of Nielsen’s long-term debt are as follows: (IN MILLIONS) For October 1, 2015 to December 31, 2015 $ 235 2016 122 2017 641 2018 212 2019 1,041 2020 814 Thereafter 4,264 $ 7,329

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Common Stock Activity	Common stock activity is as follows: Nine Months Ended September 30, 2015 Actual number of shares of common stock outstanding Beginning of period 372,757,598 Shares of common stock issued through compensation plans 2,132,408 Shares of common stock issued through business combinations 47,413 Repurchases of common stock (10,879,477 ) End of period 364,057,942
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 nine months ended September 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 July 23, 2015 August 27, 2015 September 10, 2015 $ 0.28
Summary of Open Market Share Repurchases Activity	The activity during the nine months ended September 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 July 1-31 1,310,000 $ 45.37 1,310,000 $ 643,345,777 August 1-31 1,853,142 $ 47.25 1,853,142 $ 555,793,238 September 1-30 553,756 $ 47.39 553,756 $ 529,551,668 Total 22,062,460 $ 43.99 22,062,460

Segments (Tables)

Segments (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information (IN MILLIONS) Buy Watch Corporate Total Three Months Ended September 30, 2015 Revenues $ 816 $ 715 $ — $ 1,531 Depreciation and amortization $ 51 $ 92 $ 1 $ 144 Restructuring charges $ 11 $ 4 $ — $ 15 Stock-based compensation expense $ 4 $ 1 $ 7 $ 12 Other items (1) $ — $ 3 $ 7 $ 10 Operating income/(loss) $ 91 $ 234 $ (27 ) $ 298 Business segment income/(loss) (2) $ 157 $ 334 $ (12 ) $ 479 Total assets as of September 30, 2015 $ 6,638 $ 8,417 $ 222 $ 15,277 (IN MILLIONS) Three Months Ended September 30, 2014 Revenues $ 878 $ 694 $ — $ 1,572 Depreciation and amortization $ 55 $ 83 $ 1 $ 139 Restructuring charges $ 4 $ 1 $ 1 $ 6 Stock-based compensation expense $ 3 $ 2 $ 7 $ 12 Other items (1) $ — $ 5 $ 4 $ 9 Operating income/(loss) $ 109 $ 226 $ (24 ) $ 311 Business segment income/(loss) (2) $ 171 $ 317 $ (11 ) $ 477 Total assets as of December 31, 2014 $ 6,869 $ 8,156 $ 351 $ 15,376 (IN MILLIONS) Buy Watch Corporate Total Nine Months Ended September 30, 2015 Revenues $ 2,466 $ 2,082 $ — $ 4,548 Depreciation and amortization $ 157 $ 272 $ 3 $ 432 Restructuring charges $ 28 $ 12 $ 3 $ 43 Stock-based compensation expense $ 13 $ 5 $ 21 $ 39 Other items (1) $ — $ 3 $ 27 $ 30 Operating income/(loss) $ 231 $ 634 $ (82 ) $ 783 Business segment income/(loss) (2) $ 429 $ 926 $ (28 ) $ 1,327 (IN MILLIONS) Nine Months Ended September 30, 2014 Revenues $ 2,615 $ 2,040 $ — $ 4,655 Depreciation and amortization $ 166 $ 256 $ 3 $ 425 Restructuring charges $ 26 $ 11 $ 6 $ 43 Stock-based compensation expense $ 12 $ 8 $ 16 $ 36 Other items (1) $ — $ 8 $ 20 $ 28 Operating income/(loss) $ 252 $ 602 $ (73 ) $ 781 Business segment income/(loss) (2) $ 456 $ 885 $ (28 ) $ 1,313 (1) Other items primarily consist of non-recurring costs for the three and nine months ended September 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)	9 Months Ended
	Sep. 30, 2015
Guarantees [Abstract]
Consolidating Statement of Comprehensive Income	Nielsen Holdings plc Condensed Consolidating Statement of Comprehensive Income (Unaudited) For the three months ended September 30, 2015 (IN MILLIONS) Parent Issuers Guarantor Non- Guarantor Elimination Consolidated Revenues — — $ 907 $ 624 — $ 1,531 Cost of revenues, exclusive of depreciation and amortization shown separately below — — 328 287 — 615 Selling, general and administrative expenses, exclusive of depreciation and amortization shown separately below 3 — 236 220 — 459 Depreciation and amortization — — 119 25 — 144 Restructuring charges — — 8 7 — 15 Operating (loss)/income (3 ) — 216 85 — 298 Interest income — 227 9 1 (236 ) 1 Interest expense — (74 ) (231 ) (10 ) 236 (79 ) Foreign currency exchange transaction gains, net — — 4 1 — 5 Other income/(expense), net — — 106 (106 ) — — (Loss)/income from continuing operations before income taxes and equity in net income/(loss) of subsidiaries and affiliates (3 ) 153 104 (29 ) — 225 (Provision)/benefit for income taxes — (53 ) (38 ) 9 — (82 ) Equity in net income of subsidiaries 145 — 79 — (224 ) — Equity in net loss of affiliates — — — (1 ) — (1 ) Net income/(loss) 142 100 145 (21 ) (224 ) 142 Total other comprehensive loss (148 ) (147 ) (148 ) (125 ) 417 (151 ) Total other comprehensive loss attributable to noncontrolling interests — — — (3 ) — (3 ) Total other comprehensive loss attributable to controlling interests (148 ) (147 ) (148 ) (122 ) 417 (148 ) Total comprehensive loss (6 ) (47 ) (3 ) (146 ) 193 (9 ) Comprehensive loss attributable to noncontrolling interests — — — (3 ) — (3 ) Total comprehensive loss attributable to controlling interest $ (6 ) $ (47 ) $ (3 ) $ (143 ) 193 $ (6 ) Nielsen Holdings plc Condensed Consolidating Statement of Comprehensive Income (Unaudited) For the three months ended September 30, 2014 (IN MILLIONS) Parent Issuers Guarantor Non- Guarantor Elimination Consolidated Revenues — — $ 851 $ 721 — $ 1,572 Cost of revenues, exclusive of depreciation and amortization shown separately below — — 311 337 — 648 Selling, general and administrative expenses, exclusive of depreciation and amortization shown separately below 2 — 230 236 — 468 Depreciation and amortization — — 108 31 — 139 Restructuring charges — — 5 1 — 6 Operating (loss)/income (2 ) — 197 116 — 311 Interest income — 215 11 2 (227 ) 1 Interest expense — (70 ) (219 ) (12 ) 227 (74 ) Foreign currency exchange transaction gains/(losses), net — — 3 (2 ) — 1 Other (expense)/income, net — (51 ) 77 (78 ) — (52 ) (Loss)/income from continuing operations before income taxes and equity in net income/(loss) of subsidiaries and affiliates (2 ) 94 69 26 — 187 Provision for income taxes — (22 ) (58 ) (15 ) — (95 ) Equity in net income/(loss) of subsidiaries 93 (74 ) 82 — (101 ) — Net income/(loss) 91 (2 ) 93 11 (101 ) 92 Less net income attributable to noncontrolling interests — — — 1 — 1 Net income/(loss) attributable to controlling interest 91 (2 ) 93 10 (101 ) 91 Total other comprehensive loss (160 ) (167 ) (160 ) (261 ) 586 (162 ) Other comprehensive loss attributable to noncontrolling interests — — — (2 ) — (2 ) Total other comprehensive loss attributable to controlling interest (160 ) (167 ) (160 ) (259 ) 586 (160 ) Total comprehensive loss (69 ) (169 ) (67 ) (250 ) 485 (70 ) Comprehensive loss attributable to noncontrolling interests — — — (1 ) — (1 ) Total comprehensive loss attributable to controlling interest $ (69 ) $ (169 ) $ (67 ) $ (249 ) 485 $ (69 ) Nielsen Holdings plc Condensed Consolidated Statement of Comprehensive Income (Unaudited) For the nine months ended September 30, 2015 (IN MILLIONS) Parent Issuers Guarantor Non- Guarantor Elimination Consolidated Revenues — — $ 2,652 $ 1,896 — $ 4,548 Cost of revenues, exclusive of depreciation and amortization shown separately below — — 960 925 — 1,885 Selling, general and administrative expenses, exclusive of depreciation and amortization shown separately below 6 — 743 656 — 1,405 Depreciation and amortization — — 352 80 — 432 Restructuring charges — — 27 16 — 43 Operating (loss)/income (6 ) — 570 219 — 783 Interest income — 664 28 4 (693 ) 3 Interest expense — (217 ) (676 ) (31 ) 693 (231 ) Foreign currency exchange transaction losses, net — — (7 ) (20 ) — (27 ) Other income/(expense), net — — 135 (135 ) — — (Loss)/income from continuing operations before income taxes and equity in net income/(loss) of subsidiaries and affiliates (6 ) 447 50 37 — 528 Provision for income taxes — (156 ) (24 ) (26 ) — (206 ) Equity in net income of subsidiaries 325 5 299 — (629 ) — Equity in net loss of affiliates — — — (1 ) — (1 ) Net income 319 296 325 10 (629 ) 321 Less net income attributable to noncontrolling interests — — — 2 — 2 Net income attributable to controlling interest 319 296 325 8 (629 ) 319 Total other comprehensive loss (269 ) (265 ) (269 ) (262 ) 789 (276 ) Other comprehensive loss attributable to noncontrolling interests — — — (7 ) — (7 ) Total other comprehensive loss attributable to controlling interest (269 ) (265 ) (269 ) (255 ) 789 (269 ) Total comprehensive income/(loss) 50 31 56 (252 ) 160 45 Comprehensive loss attributable to noncontrolling interests — — — (5 ) — (5 ) Total comprehensive income/(loss) attributable to controlling interest $ 50 $ 31 $ 56 $ (247 ) 160 $ 50 Nielsen Holdings plc Condensed Consolidated Statement of Comprehensive Income (Unaudited) For the nine months ended September 30, 2014 (IN MILLIONS) Parent Issuers Guarantor Non- Guarantor Elimination Consolidated Revenues $ - $ - $ 2,505 $ 2,150 $ - $ 4,655 Cost of revenues, exclusive of depreciation and amortization shown separately below - - 947 1,020 - 1,967 Selling, general and administrative expenses, exclusive of depreciation and amortization shown seperately below 3 - 717 719 - 1,439 Depreciation and amortization - - 333 92 - 425 Restructuring charges - - 29 14 - 43 Operating (loss)/income (3 ) - 479 305 - 781 Interest income - 636 34 7 (674 ) 3 Interest expense - (217 ) (649 ) (37 ) 674 (229 ) Foreign currency exchange transaction gains/(losses), net - - 3 (35 ) - (32 ) Other (expense)/income, net - (96 ) 21 (25 ) - (100 ) (Loss)/income from continuing operations before income taxes and equity in net income/(loss) of subsidiaries and affiliates (3 ) 323 (112 ) 215 - 423 Benefit/(provision) for income taxes 5 (80 ) (54 ) (73 ) - (202 ) Equity in net income of subsidiaries 221 87 388 - (696 ) - Equity in net (loss)/income of affiliates - - (1 ) 3 - 2 Net income 223 330 221 145 (696 ) 223 Total other comprehensive loss (122 ) (145 ) (122 ) (235 ) 500 (124 ) Other comprehensive loss attributable to noncontrolling interests - - - (2 ) - (2 ) Total other comprehensive loss attributable to controlling interest (122 ) (145 ) (122 ) (233 ) 500 (122 ) Total comprehensive income/(loss) 101 185 99 (90 ) (196 ) 99 Comprehensive loss attributable to noncontrolling interests - - - (2 ) - (2 ) Total comprehensive income/(loss) attributable to controlling interest $ 101 $ 185 $ 99 $ (88 ) $ (196 ) $ 101
Consolidating Balance Sheet	Nielsen Holdings plc Condensed Consolidating Balance Sheet (Unaudited) September 30, 2015 (IN MILLIONS) Parent Issuers Guarantor Non-Guarantor Elimination Consolidated Assets: Current assets Cash and cash equivalents $ 1 $ (1 ) $ 13 $ 345 $ — $ 358 Trade and other receivables, net — — 529 634 — 1,163 Prepaid expenses and other current assets — 10 413 162 — 585 Intercompany receivables — 525 364 135 (1,024 ) — Total current assets 1 534 1,319 1,276 (1,024 ) 2,106 Non-current assets Property, plant and equipment, net — — 319 167 — 486 Goodwill — — 5,709 1,879 — 7,588 Other intangible assets, net — — 4,331 324 — 4,655 Deferred tax assets 1 3 27 42 — 73 Other non-current assets — 45 210 114 — 369 Equity investment in subsidiaries 4,554 1,156 3,275 — (8,985 ) — Intercompany loans — 10,836 3,457 165 (14,458 ) — Total assets $ 4,556 $ 12,574 $ 18,647 $ 3,967 $ (24,467 ) $ 15,277 Liabilities and equity: Current liabilities Accounts payable and other current liabilities $ 1 $ 97 $ 354 $ 466 $ — $ 918 Deferred revenues — — 168 131 — 299 Income tax liabilities 1 — 154 44 — 199 Current portion of long-term debt, capital lease obligations and short-term borrowings — 108 230 1 — 339 Intercompany payables — 63 660 301 (1,024 ) — Total current liabilities 2 268 1,566 943 (1,024 ) 1,755 Non-current liabilities Long-term debt and capital lease obligations — 7,002 91 21 — 7,114 Deferred tax liabilities — 74 862 57 — 993 Intercompany loans 126 2,985 11,001 346 (14,458 ) — Other non-current liabilities 2 11 573 331 — 917 Total liabilities 130 10,340 14,093 1,698 (15,482 ) 10,779 Total stockholders’ equity 4,426 2,234 4,554 2,197 (8,985 ) 4,426 Noncontrolling interests — — — 72 — 72 Total equity 4,426 2,234 4,554 2,269 (8,985 ) 4,498 Total liabilities and equity $ 4,556 $ 12,574 $ 18,647 $ 3,967 $ (24,467 ) $ 15,277 Nielsen Holdings plc 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 1 227 234 190 (652 ) — Total current assets 51 236 1,048 1,336 (652 ) 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 6,596 — (12,737 ) — Intercompany receivables — 10,494 492 191 (11,177 ) — Total assets $ 5,069 $ 11,898 $ 18,573 $ 4,402 $ (24,566 ) $ 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 — — 429 223 (652 ) — Total current liabilities 11 142 1,322 975 (652 ) 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 10,685 431 (11,177 ) — Other non-current liabilities 2 2 567 384 — 955 Total liabilities 13 6,637 13,556 1,866 (11,829 ) 10,243 Total stockholders’ equity 5,056 5,261 5,017 2,459 (12,737 ) 5,056 Noncontrolling interests — — — 77 — 77 Total equity 5,056 5,261 5,017 2,536 (12,737 ) 5,133 Total liabilities and equity $ 5,069 $ 11,898 $ 18,573 $ 4,402 $ (24,566 ) $ 15,376
Consolidating Statement of Cash Flows	Nielsen Holdings plc Condensed Consolidating Statement of Cash Flows (Unaudited) For the nine months ended September 30, 2015 (IN MILLIONS) Parent Issuers Guarantor Non- Consolidated Net cash (used in)/provided by operating $ (2 ) $ 299 $ 308 $ 173 $ 778 Investing activities: Acquisition of subsidiaries and affiliates, net of — — (197 ) (1 ) (198 ) Additions to property, plant and equipment and — — (66 ) (34 ) (100 ) Additions to intangible assets — — (183 ) (23 ) (206 ) Net cash used in investing activities — — (446 ) (58 ) (504 ) Financing activities: Net repayments under revolving credit facility — — (70 ) — (70 ) Repayments of debt — (74 ) — — (74 ) Proceeds from the issuance of debt, net of issuance costs 746 746 Cash dividends paid to stockholders (307 ) — — — (307 ) Repurchase of common stock (493 ) — — — (493 ) Activity under stock plans 46 — (6 ) — 40 Excess tax benefits from stock-based compensation — — 30 — 30 Settlement of intercompany and other financing activities 708 (973 ) 250 (1 ) (16 ) Net cash (used in)/provided by financing (46 ) (301 ) 204 (1 ) (144 ) Effect of exchange-rate changes on cash — — (2 ) (43 ) (45 ) Net (decrease)/increase in cash and cash equivalents (48 ) (2 ) 64 71 85 Cash and cash equivalents at beginning 49 1 (51 ) 274 273 Cash and cash equivalents at end of period $ 1 $ (1 ) $ 13 $ 345 $ 358 Nielsen Holdings plc Condensed Consolidated Statement of Cash Flows (Unaudited) For the nine months ended September 30, 2014 (IN MILLIONS) Parent Issuers Guarantor Non-Guarantor Consolidated Net cash provided by operating activities $ 2 $ 452 $ 109 $ 129 $ 692 Investing activities: Acquisition of subsidiaries and affiliates, net of - - (121 ) (82 ) (203 ) Additions to property, plant and equipment and other assets - - (63 ) (33 ) (96 ) Additions to intangible assets - - (159 ) (19 ) (178 ) Other investing activities 5 - (5 ) - - Net cash provided by/(used in) investing 5 - (348 ) (134 ) (477 ) Financing activities: Repayments of debt - (4,572 ) - (1 ) (4,573 ) Proceeds from the issuance of debt, net of issuance costs - 4,544 - - 4,544 Cash dividends paid to stockholders (261 ) - - - (261 ) Repurchase of common stock (75 ) - - - (75 ) Proceeds from the exercise of stock options 91 - (6 ) (5 ) 80 Settlement of intercompany and other financing activities 240 (404 ) 59 14 (91 ) Net cash (used in)/provided by financing (5 ) (432 ) 53 8 (376 ) Effect of exchange-rate changes on cash and cash equivalents - - - (34 ) (34 ) Net increase/(decrease) in cash and cash equivalents 2 20 (186 ) (31 ) (195 ) Cash and cash equivalents at beginning of 12 - 205 347 564 Cash and cash equivalents at end of period $ 14 $ 20 $ 19 $ 316 $ 369

Background and Basis of Prese30

Background and Basis of Presentation - Additional Information (Detail) $ in Millions	3 Months Ended				9 Months Ended		12 Months Ended
	Sep. 30, 2015USD ($)CountryVEF / $shares	Dec. 31, 2014USD ($)VEF / $shares	Sep. 30, 2014shares	Mar. 31, 2014USD ($)VEF / $	Sep. 30, 2015USD ($)SegmentCountryVEF / $shares	Sep. 30, 2014shares	Dec. 31, 2014USD ($)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	364,057,942	382,622,922			364,057,942		382,622,922
Anti-dilutive shares excluded from calculation of earning per share under compensation plan | shares	57,600		92,800		1,608,433	92,800
Foreign currency exchange rate	199.4	50		10.8	199.4		50
Foreign currency exchange transaction gains (losses) | $		$ (32)		$ (20)	$ (9)		$ (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
SIMADI Exchange Rate
Business And Basis Of Presentation [Line Items]
Net monetary assets | $	$ 3				$ 3
Luxco
Business And Basis Of Presentation [Line Items]
Percentage of owned shares							15.00%
Common stock, shares issued | shares	0				0

Business Acquisitions and Dis31

Business Acquisitions and Dispositions - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Business Combinations [Abstract]
Payments to acquire businesses, net of cash acquired	$ 198	$ 203
Prepaid expenses and other current assets	22
Accounts payable and other current liabilities	$ 6

Goodwill and Other Intangible32

Goodwill and Other Intangible Assets - Summary of Changes in Carrying Amount of Goodwill (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
Goodwill [Line Items]
Balance beginning	$ 7,671
Acquisitions, divestitures and other adjustments	132
Effect of foreign currency translation	(215)
Balance ending	7,588
Buy
Goodwill [Line Items]
Balance beginning	3,014
Acquisitions, divestitures and other adjustments	3
Effect of foreign currency translation	(195)
Balance ending	2,822
Watch
Goodwill [Line Items]
Balance beginning	4,657
Acquisitions, divestitures and other adjustments	129
Effect of foreign currency translation	(20)
Balance ending	$ 4,766

Goodwill and Other Intangible33

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Income Tax Disclosure [Abstract]
Goodwill deductible for income tax purposes	$ 64		$ 64
Amortization expense, intangible assets	102	$ 99	305	$ 300
Amortization expense, computer software	$ 56	$ 52	$ 165	$ 160

Goodwill and Other Intangible34

Goodwill and Other Intangible Assets - Other Intangible Assets (Detail) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Finite And Indefinite Lived Intangible Assets [Line Items]
Amortized intangibles, Accumulated Amortization	$ (2,698)	$ (2,386)
Amortized intangibles, Gross Amounts	5,432	5,180
Trade names and trademarks
Finite And Indefinite Lived Intangible Assets [Line Items]
Amortized intangibles, Accumulated Amortization	(81)	(68)
Amortized intangibles, Gross Amounts	166	166
Customer - related intangibles
Finite And Indefinite Lived Intangible Assets [Line Items]
Amortized intangibles, Accumulated Amortization	(1,178)	(1,054)
Amortized intangibles, Gross Amounts	2,959	2,938
Covenants-not-to-compete
Finite And Indefinite Lived Intangible Assets [Line Items]
Amortized intangibles, Accumulated Amortization	(35)	(30)
Amortized intangibles, Gross Amounts	38	36
Computer software
Finite And Indefinite Lived Intangible Assets [Line Items]
Amortized intangibles, Accumulated Amortization	(1,319)	(1,157)
Amortized intangibles, Gross Amounts	2,164	1,935
Patents and other
Finite And Indefinite Lived Intangible Assets [Line Items]
Amortized intangibles, Accumulated Amortization	(85)	(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		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Beginning Balance			$ (777)	$ (387)
Other comprehensive (loss)/income before reclassifications			(294)	(136)
Amounts reclassified from accumulated other comprehensive (loss)/income			18	12
Net current period other comprehensive (loss)/income	$ (151)	$ (162)	(276)	(124)
Net current period other comprehensive loss attributable to noncontrolling interest	(3)	(2)	(7)	(2)
Net current period other comprehensive (loss)/income attributable to Nielsen stockholders	(148)	(160)	(269)	(122)
Ending Balance	(1,046)	(509)	(1,046)	(509)
Currency Translation Adjustments
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Beginning Balance			(418)	(124)
Other comprehensive (loss)/income before reclassifications			(285)	(136)
Net current period other comprehensive (loss)/income			(285)	(136)
Net current period other comprehensive loss attributable to noncontrolling interest			(7)	(2)
Net current period other comprehensive (loss)/income attributable to Nielsen stockholders			(278)	(134)
Ending Balance	(696)	(258)	(696)	(258)
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
Net current period other comprehensive (loss)/income				4
Net current period other comprehensive (loss)/income attributable to Nielsen stockholders				4
Ending Balance	19	13	19	13
Cash Flow Hedges
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Beginning Balance			(2)	(5)
Other comprehensive (loss)/income before reclassifications			(11)	(4)
Amounts reclassified from accumulated other comprehensive (loss)/income			5	7
Net current period other comprehensive (loss)/income			(6)	3
Net current period other comprehensive (loss)/income attributable to Nielsen stockholders			(6)	3
Ending Balance	(8)	(2)	(8)	(2)
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)/income			13	5
Net current period other comprehensive (loss)/income			15	5
Net current period other comprehensive (loss)/income attributable to Nielsen stockholders			15	5
Ending Balance	$ (361)	$ (262)	$ (361)	$ (262)

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		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Benefit for income taxes		$ 82	$ 95	$ 206	$ 202
Net income attributable to Nielsen stockholders		142	91	319	223
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		4	4	18	12
Cash Flow Hedges | Interest rate contracts
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Benefit for income taxes		2	2	4	5
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	9	12
Net income attributable to Nielsen stockholders		1	2	5	7
Actuarial loss
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Benefit for income taxes		2	1	4	4
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Actuarial loss, before Tax	[1]	5	3	17	9
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		$ 3	$ 2	$ 13	$ 5
[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		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Restructuring And Related Activities [Abstract]
Beginning Balance			$ 72
Charges	$ 15	$ 6	43	$ 43
Payments			(63)
Effect of foreign currency translation and other adjustments			(7)
Ending Balance	$ 45		$ 45

Restructuring Activities - Addi

Restructuring Activities - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Restructuring And Related Activities [Abstract]
Restructuring charges	$ 15	$ 6	$ 43	$ 43
Restructuring reserve	45		45		$ 72
Restructuring actions for remaining liabilities, Current	$ 36		$ 36

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Measured on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Millions		Sep. 30, 2015	Dec. 31, 2014
Assets:
Asset		$ 76	$ 76
Liabilities:
Liabilities		44	34
Interest Rate Swap Arrangements
Assets:
Asset	[1]		1
Liabilities:
Liabilities	[1]	15	6
Deferred Compensation Liabilities
Liabilities:
Liabilities	[2]	29	28
Level 1
Assets:
Asset		76	75
Liabilities:
Liabilities		29	28
Level 1 | Deferred Compensation Liabilities
Liabilities:
Liabilities	[2]	29	28
Level 2
Assets:
Asset			1
Liabilities:
Liabilities		15	6
Level 2 | Interest Rate Swap Arrangements
Assets:
Asset	[1]		1
Liabilities:
Liabilities	[1]	15	6
Investments in Equity Securities
Assets:
Asset	[3]	45	45
Investments in Equity Securities | Level 1
Assets:
Asset	[3]	45	45
Plan Assets for Deferred Compensation
Assets:
Asset	[4]	29	28
Plan Assets for Deferred Compensation | Level 1
Assets:
Asset	[4]	29	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 nine months ended September 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 ($)	9 Months Ended	12 Months Ended
	Sep. 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		9 Months Ended
	Jul. 31, 2015	Apr. 30, 2015	Sep. 30, 2015	Sep. 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			$ 8,000,000
Foreign Currency Exchange Contract
Derivative Instruments Gain Loss [Line Items]
Gain (loss) on derivative financial instruments			3,000,000	$ 0
Derivative financial instruments outstanding			$ 0		$ 0
Forward Interest Rate Swap Agreement | Designated As Hedging Instrument
Derivative Instruments Gain Loss [Line Items]
Derivative financial instruments outstanding	$ 150,000,000	$ 150,000,000
Interest rate swap maturity term	3 years	3 years
Variable interest rate	1.62%	1.40%

Fair Value Measurements - Outst

Fair Value Measurements - Outstanding Interest Rate Swaps (Detail) - 9 months ended Sep. 30, 2015	USD ($)	EUR (€)
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
US Dollar term loan floating-to-fixed rate swaps maturing on July 2019
Derivative Instruments Gain Loss [Line Items]
Derivative financial instruments outstanding	$ 150,000,000
Maturity Date	Jul. 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	Sep. 30, 2015	Dec. 31, 2014
Account Payable And Other Current Liabilities
Derivatives Fair Value [Line Items]
Liabilities	$ 3	$ 4
Account Payable And Other Non Current Liabilities
Derivatives Fair Value [Line Items]
Liabilities	$ 12	2
Other Noncurrent Assets
Derivatives Fair Value [Line Items]
Assets		$ 1

Fair Value Measurements - Deriv

Fair Value Measurements - Derivatives in Cash Flow Hedging Relationships (Detail) - Interest Rate Swap Arrangements - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Derivative Instruments Gain Loss [Line Items]
Amount of Loss/(Gain) Recognized in OCI Derivatives (Effective Portion)	$ 9	$ (3)	$ 19	$ 6
Interest Expense
Derivative Instruments Gain Loss [Line Items]
Amount of Loss Reclassified from AOCI into Income (Effective Portion)	$ 3	$ 4	$ 9	$ 12

Long-term Debt and Other Fina45

Long-term Debt and Other Financing Arrangements - Summary of Long-Term Debt (Detail) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Total long-term debt, Weighted average interest rate	3.98%	3.79%
Total long-term debt, Carrying Amount	$ 7,329	$ 6,744
Capital lease and other financing obligations, Carrying Amount	124	118
Total debt and other financing arrangements	7,453	6,862
Less: Current portion of long-term debt, capital lease and other financing obligations and other short-term borrowings	339	397
Long-term debt and capital lease obligations	7,114	6,465
Total long-term debt, Fair Value	$ 7,249	$ 6,727
Senior secured credit facilities
Debt Instrument [Line Items]
Total long-term debt, Weighted average interest rate	2.69%	2.65%
Total long-term debt, Carrying Amount	$ 3,587	$ 3,758
Total long-term debt, Fair Value	$ 3,578	$ 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	3,662	2,988
Senior Secured Term Loan Facility Due 2019 | Libor Based Variable Rate
Debt Instrument [Line Items]
Total long-term debt, Carrying Amount	1,481	1,542
Total long-term debt, Fair Value	1,474	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	210	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	494	497
Total long-term debt, Fair Value	493	493
Senior Secured Term Loan Facility Due 2021 | Libor Based Variable Rate
Debt Instrument [Line Items]
Total long-term debt, Carrying Amount	1,086	1,094
Total long-term debt, Fair Value	1,089	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	803	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	2,233	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	626	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	Feb. 28, 2015USD ($)	Jul. 31, 2014USD ($)	Apr. 30, 2014USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 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				2.20%	2.20%
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	$ 575
Debt instrument, maturity year				2,019	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				2.45%	2.45%
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				3.20%	3.20%
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				2.89%	2.89%
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	2,020
Senior Debenture Loan Due 2022
Debt Instrument [Line Items]
Debt instrument face value	$ 750	$ 800	$ 750	$ 2,300	$ 1,550
Debt instrument interest rate stated percentage	5.00%	5.00%	5.00%	5.00%		5.00%
Debt instrument, maturity year	2,022	2,022	2,022	2,022	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	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	Sep. 30, 2015	Dec. 31, 2014
Debt Disclosure [Abstract]
For October 1, 2015 to December 31, 2015	$ 235
2,016	122
2,017	641
2,018	212
2,019	1,041
2,020	814
Thereafter	4,264
Total	$ 7,329	$ 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	Sep. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Debt instrument face value	$ 750	$ 800	$ 750	$ 2,300	$ 1,550
Debt instrument interest rate stated percentage	5.00%	5.00%	5.00%	5.00%
Debt instrument, maturity year	2,022	2,022	2,022	2,022	2,022

Stockholders' Equity - Common S

Stockholders' Equity - Common Stock Activity (Detail)	9 Months Ended
	Sep. 30, 2015shares
Actual number of shares of common stock outstanding
Beginning of period	372,757,598
Shares of common stock issued through compensation plans	2,132,408
Shares of common stock issued through business combinations	47,413
Repurchases of common stock	(10,879,477)
End of period	364,057,942

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Dividends Paid (Detail) - $ / shares	Jul. 23, 2015	Apr. 20, 2015	Feb. 19, 2015	Oct. 30, 2014	Jul. 24, 2014	May. 01, 2014	Feb. 20, 2014	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Dividends Payable [Line Items]
Dividend Per Share								$ 0.28	$ 0.25	$ 0.81	$ 0.70
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
Installment Seven
Dividends Payable [Line Items]
Declaration Date										Jul. 23, 2015
Record Date										Aug. 27, 2015
Payment Date										Sep. 10, 2015
Dividend Per Share	$ 0.28

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	1 Months Ended									9 Months Ended	12 Months Ended
	Sep. 30, 2015	Aug. 31, 2015	Jul. 31, 2015	Jun. 30, 2015	May. 31, 2015	Apr. 30, 2015	Mar. 31, 2015	Feb. 28, 2015	Jan. 31, 2015	Sep. 30, 2015	Dec. 31, 2014	Oct. 23, 2014	Jul. 25, 2013
Stockholders Equity [Line Items]
Cost of treasury stock											$ 415,000,000	$ 1,000,000,000
Cumulative shares repurchased	22,062,460									22,062,460	11,182,983
Average price of common stock purchased	$ 47.39	$ 47.25	$ 45.37	$ 45.14	$ 45.37	$ 45.30	$ 43.76	$ 43.90	$ 44.09	$ 43.99	$ 42.67
Payments For Repurchase Of Common Stock	$ 970,000,000									$ 970,000,000
Maximum
Stockholders Equity [Line Items]
Cost of treasury stock													$ 500,000,000

Stockholders' Equity - Open Mar

Stockholders' Equity - Open Market Share Repurchases Activity (Detail) - USD ($)	1 Months Ended									9 Months Ended	12 Months Ended
	Sep. 30, 2015	Aug. 31, 2015	Jul. 31, 2015	Jun. 30, 2015	May. 31, 2015	Apr. 30, 2015	Mar. 31, 2015	Feb. 28, 2015	Jan. 31, 2015	Sep. 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	553,756	1,853,142	1,310,000	1,300,836	1,222,800	1,440,798	772,189	814,753	1,611,203
Total Number of Shares Purchased, ending balance	22,062,460									22,062,460	11,182,983
Average price of common stock purchased	$ 47.39	$ 47.25	$ 45.37	$ 45.14	$ 45.37	$ 45.30	$ 43.76	$ 43.90	$ 44.09	$ 43.99	$ 42.67
Dollar Value of Shares that may yet be Purchased under the Plans or Programs	$ 529,551,668	$ 555,793,238	$ 643,345,777	$ 702,774,965	$ 761,496,406	$ 816,973,014	$ 882,241,498	$ 916,031,448	$ 951,797,780	$ 529,551,668	$ 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	553,756	1,853,142	1,310,000	1,300,836	1,222,800	1,440,798	772,189	814,753	1,611,203
Total Number of Shares Purchased, ending balance	22,062,460									22,062,460	11,182,983

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2015	Dec. 31, 2014
Income Tax [Line Items]
Effective tax rates	36.00%	51.00%	39.00%	48.00%
Liabilities for unrecognized income tax benefits						$ 452
Scenario, Forecast
Income Tax [Line Items]
Liabilities for unrecognized income tax benefits					$ 463

Segments - Additional Informati

Segments - Additional Information (Detail)	9 Months Ended
	Sep. 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		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Segment Reporting Information [Line Items]
Revenues		$ 1,531	$ 1,572	$ 4,548	$ 4,655
Depreciation and amortization		144	139	432	425
Restructuring charges		15	6	43	43
Stock-based compensation expense		12		39	36
Other items	[1]	10		30	28
Operating income/(loss)		298	311	783	781
Business segment income/(loss)	[2]	479		1,327	1,313
Total assets		15,277		15,277		$ 15,376
Operating Segments | Buy
Segment Reporting Information [Line Items]
Revenues		816	878	2,466	2,615
Depreciation and amortization		51	55	157	166
Restructuring charges		11	4	28	26
Stock-based compensation expense		4	3	13	12
Operating income/(loss)		91	109	231	252
Business segment income/(loss)	[2]	157	171	429	456
Total assets		6,638		6,638		6,869
Operating Segments | Watch
Segment Reporting Information [Line Items]
Revenues		715	694	2,082	2,040
Depreciation and amortization		92	83	272	256
Restructuring charges		4	1	12	11
Stock-based compensation expense		1	2	5	8
Other items	[1]	3	5	3	8
Operating income/(loss)		234	226	634	602
Business segment income/(loss)	[2]	334	317	926	885
Total assets		8,417		8,417		8,156
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Depreciation and amortization		1	1	3	3
Restructuring charges			1	3	6
Stock-based compensation expense		7	7	21	16
Other items	[1]	7	4	27	20
Operating income/(loss)		(27)	(24)	(82)	(73)
Business segment income/(loss)	[2]	(12)	$ (11)	(28)	$ (28)
Total assets		$ 222		$ 222		$ 351
[1]	Other items primarily consist of non-recurring costs for the three and nine months ended September 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)	Sep. 30, 2015
Subsidiaries of Nielsen
Condensed Financial Statements Captions [Line Items]
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		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Condensed Financial Statements Captions [Line Items]
Revenues	$ 1,531	$ 1,572	$ 4,548	$ 4,655
Cost of revenues, exclusive of depreciation and amortization shown separately below	615	648	1,885	1,967
Selling, general and administrative expenses, exclusive of depreciation and amortization shown separately below	459	468	1,405	1,439
Depreciation and amortization	144	139	432	425
Restructuring charges	15	6	43	43
Operating income	298	311	783	781
Interest income	1	1	3	3
Interest expense	(79)	(74)	(231)	(229)
Foreign currency exchange transaction gains/(losses), net	5	1	(27)	(32)
Other income/(expense), net	0	(52)	0	(100)
Income from continuing operations before income taxes and equity in net (loss)/income of affiliates	225	187	528	423
Provision for income taxes	(82)	(95)	(206)	(202)
Equity in net income of subsidiaries	0		0
Equity in net (loss)/income of affiliates	(1)		(1)	2
Net income	142	92	321	223
Total other comprehensive income (loss)	(151)	(162)	(276)	(124)
Other comprehensive loss attributable to noncontrolling interests	(3)	(2)	(7)	(2)
Total other comprehensive loss attributable to controlling interests	(148)	(160)	(269)	(122)
Total comprehensive (loss)/income	(9)	(70)	45	99
Comprehensive income (loss) attributable to noncontrolling interests	(3)	(1)	(5)	(2)
Total comprehensive (loss)/income attributable to Nielsen stockholders	(6)	(69)	50	101
(Loss)/income from continuing operations before income taxes and equity in net income/(loss) of subsidiaries and affiliates	225	187	528	423
Less net income attributable to noncontrolling interests		1	2
Net income attributable to Nielsen stockholders	142	91	319	223
Parent
Condensed Financial Statements Captions [Line Items]
Selling, general and administrative expenses, exclusive of depreciation and amortization shown separately below	3	2	6	3
Operating income	(3)	(2)	(6)	(3)
Income from continuing operations before income taxes and equity in net (loss)/income of affiliates	(3)	(2)	(6)	(3)
Provision for income taxes				5
Equity in net income of subsidiaries	145		325	221
Equity in net (loss)/income of affiliates		93
Net income	142	91	319	223
Total other comprehensive income (loss)	(148)	(160)	(269)	(122)
Total other comprehensive loss attributable to controlling interests	(148)	(160)	(269)	(122)
Total comprehensive (loss)/income	(6)	(69)	50	101
Total comprehensive (loss)/income attributable to Nielsen stockholders	(6)	(69)	50	101
(Loss)/income from continuing operations before income taxes and equity in net income/(loss) of subsidiaries and affiliates	(3)	(2)	(6)	(3)
Net income attributable to Nielsen stockholders		91	319
Issuers
Condensed Financial Statements Captions [Line Items]
Interest income	227	215	664	636
Interest expense	(74)	(70)	(217)	(217)
Other income/(expense), net		(51)		(96)
Income from continuing operations before income taxes and equity in net (loss)/income of affiliates	153	94	447	323
Provision for income taxes	(53)	(22)	(156)	(80)
Equity in net income of subsidiaries			5	87
Equity in net (loss)/income of affiliates		(74)
Net income	100	(2)	296	330
Total other comprehensive income (loss)	(147)	(167)	(265)	(145)
Total other comprehensive loss attributable to controlling interests	(147)	(167)	(265)	(145)
Total comprehensive (loss)/income	(47)	(169)	31	185
Total comprehensive (loss)/income attributable to Nielsen stockholders	(47)	(169)	31	185
(Loss)/income from continuing operations before income taxes and equity in net income/(loss) of subsidiaries and affiliates	153	94	447	323
Net income attributable to Nielsen stockholders		(2)	296
Guarantor
Condensed Financial Statements Captions [Line Items]
Revenues	907	851	2,652	2,505
Cost of revenues, exclusive of depreciation and amortization shown separately below	328	311	960	947
Selling, general and administrative expenses, exclusive of depreciation and amortization shown separately below	236	230	743	717
Depreciation and amortization	119	108	352	333
Restructuring charges	8	5	27	29
Operating income	216	197	570	479
Interest income	9	11	28	34
Interest expense	(231)	(219)	(676)	(649)
Foreign currency exchange transaction gains/(losses), net	4	3	(7)	3
Other income/(expense), net	106	77	135	21
Income from continuing operations before income taxes and equity in net (loss)/income of affiliates	104	69	50	(112)
Provision for income taxes	(38)	(58)	(24)	(54)
Equity in net income of subsidiaries	79		299	388
Equity in net (loss)/income of affiliates		82		(1)
Net income	145	93	325	221
Total other comprehensive income (loss)	(148)	(160)	(269)	(122)
Total other comprehensive loss attributable to controlling interests	(148)	(160)	(269)	(122)
Total comprehensive (loss)/income	(3)	(67)	56	99
Total comprehensive (loss)/income attributable to Nielsen stockholders	(3)	(67)	56	99
(Loss)/income from continuing operations before income taxes and equity in net income/(loss) of subsidiaries and affiliates	104	69	50	(112)
Net income attributable to Nielsen stockholders		93	325
Non-Guarantor
Condensed Financial Statements Captions [Line Items]
Revenues	624	721	1,896	2,150
Cost of revenues, exclusive of depreciation and amortization shown separately below	287	337	925	1,020
Selling, general and administrative expenses, exclusive of depreciation and amortization shown separately below	220	236	656	719
Depreciation and amortization	25	31	80	92
Restructuring charges	7	1	16	14
Operating income	85	116	219	305
Interest income	1	2	4	7
Interest expense	(10)	(12)	(31)	(37)
Foreign currency exchange transaction gains/(losses), net	1	(2)	(20)	(35)
Other income/(expense), net	(106)	(78)	(135)	(25)
Income from continuing operations before income taxes and equity in net (loss)/income of affiliates	(29)	26	37	215
Provision for income taxes	9	(15)	(26)	(73)
Equity in net (loss)/income of affiliates	(1)		(1)	3
Net income	(21)	11	10	145
Total other comprehensive income (loss)	(125)	(261)	(262)	(235)
Other comprehensive loss attributable to noncontrolling interests	(3)	(2)	(7)	(2)
Total other comprehensive loss attributable to controlling interests	(122)	(259)	(255)	(233)
Total comprehensive (loss)/income	(146)	(250)	(252)	(90)
Comprehensive income (loss) attributable to noncontrolling interests	(3)	(1)	(5)	(2)
Total comprehensive (loss)/income attributable to Nielsen stockholders	(143)	(249)	(247)	(88)
(Loss)/income from continuing operations before income taxes and equity in net income/(loss) of subsidiaries and affiliates	(29)	26	37	215
Less net income attributable to noncontrolling interests		1	2
Net income attributable to Nielsen stockholders		10	8
Consolidation Eliminations
Condensed Financial Statements Captions [Line Items]
Interest income	(236)	(227)	(693)	(674)
Interest expense	236	227	693	674
Equity in net income of subsidiaries	(224)		(629)	(696)
Equity in net (loss)/income of affiliates		(101)
Net income	(224)	(101)	(629)	(696)
Total other comprehensive income (loss)	417	586	789	500
Total other comprehensive loss attributable to controlling interests	417	586	789	500
Total comprehensive (loss)/income	193	485	160	(196)
Total comprehensive (loss)/income attributable to Nielsen stockholders	$ 193	485	160	$ (196)
Net income attributable to Nielsen stockholders		$ (101)	$ (629)

Guarantor Financial Informati58

Guarantor Financial Information - Condensed Consolidating Balance Sheet (Unaudited) (Detail) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014	Sep. 30, 2014	Dec. 31, 2013
Current assets
Cash and cash equivalents	$ 358	$ 273	$ 369	$ 564
Trade and other receivables, net	1,163	1,241
Prepaid expenses and other current assets	585	505
Intercompany receivables	0
Total current assets	2,106	2,019
Non-current assets
Property, plant and equipment, net	486	533
Goodwill	7,588	7,671
Other intangible assets, net	4,655	4,715
Deferred tax assets	73	83
Other non-current assets	369	355
Equity investment in subsidiaries	0
Intercompany loans	0
Total assets	15,277	15,376
Current liabilities
Accounts payable and other current liabilities	918	1,035
Deferred revenues	299	304
Income tax liabilities	199	62
Current portion of long-term debt, capital lease obligations and short-term borrowings	339	397
Intercompany payables	0
Total current liabilities	1,755	1,798
Non-current liabilities
Long-term debt and capital lease obligations	7,114	6,465
Deferred tax liabilities	993	1,025
Intercompany loans	0
Other non-current liabilities	917	955
Total liabilities	10,779	10,243
Total stockholders’ equity	4,426	5,056
Noncontrolling interests	72	77
Total equity	4,498	5,133
Total liabilities and equity	15,277	15,376
Parent
Current assets
Cash and cash equivalents	1	49	14	12
Trade and other receivables, net		1
Intercompany receivables		1
Total current assets	1	51
Non-current assets
Deferred tax assets	1	1
Equity investment in subsidiaries	4,554	5,017
Total assets	4,556	5,069
Current liabilities
Accounts payable and other current liabilities	1	10
Income tax liabilities	1	1
Total current liabilities	2	11
Non-current liabilities
Intercompany loans	126
Other non-current liabilities	2	2
Total liabilities	130	13
Total stockholders’ equity	4,426	5,056
Total equity	4,426	5,056
Total liabilities and equity	4,556	5,069
Issuers
Current assets
Cash and cash equivalents	(1)	1	20
Prepaid expenses and other current assets	10	8
Intercompany receivables	525	227
Total current assets	534	236
Non-current assets
Deferred tax assets	3
Other non-current assets	45	44
Equity investment in subsidiaries	1,156	1,124
Intercompany loans	10,836
Intercompany receivables		10,494
Total assets	12,574	11,898
Current liabilities
Accounts payable and other current liabilities	97	44
Current portion of long-term debt, capital lease obligations and short-term borrowings	108	98
Intercompany payables	63
Total current liabilities	268	142
Non-current liabilities
Long-term debt and capital lease obligations	7,002	6,358
Deferred tax liabilities	74	74
Intercompany loans	2,985	61
Other non-current liabilities	11	2
Total liabilities	10,340	6,637
Total stockholders’ equity	2,234	5,261
Total equity	2,234	5,261
Total liabilities and equity	12,574	11,898
Guarantor
Current assets
Cash and cash equivalents	13	(51)	19	205
Trade and other receivables, net	529	526
Prepaid expenses and other current assets	413	339
Intercompany receivables	364	234
Total current assets	1,319	1,048
Non-current assets
Property, plant and equipment, net	319	335
Goodwill	5,709	5,588
Other intangible assets, net	4,331	4,318
Deferred tax assets	27	25
Other non-current assets	210	171
Equity investment in subsidiaries	3,275	6,596
Intercompany loans	3,457
Intercompany receivables		492
Total assets	18,647	18,573
Current liabilities
Accounts payable and other current liabilities	354	418
Deferred revenues	168	159
Income tax liabilities	154	18
Current portion of long-term debt, capital lease obligations and short-term borrowings	230	298
Intercompany payables	660	429
Total current liabilities	1,566	1,322
Non-current liabilities
Long-term debt and capital lease obligations	91	87
Deferred tax liabilities	862	895
Intercompany loans	11,001	10,685
Other non-current liabilities	573	567
Total liabilities	14,093	13,556
Total stockholders’ equity	4,554	5,017
Total equity	4,554	5,017
Total liabilities and equity	18,647	18,573
Non-Guarantor
Current assets
Cash and cash equivalents	345	274	$ 316	$ 347
Trade and other receivables, net	634	714
Prepaid expenses and other current assets	162	158
Intercompany receivables	135	190
Total current assets	1,276	1,336
Non-current assets
Property, plant and equipment, net	167	198
Goodwill	1,879	2,083
Other intangible assets, net	324	397
Deferred tax assets	42	57
Other non-current assets	114	140
Intercompany loans	165
Intercompany receivables		191
Total assets	3,967	4,402
Current liabilities
Accounts payable and other current liabilities	466	563
Deferred revenues	131	145
Income tax liabilities	44	43
Current portion of long-term debt, capital lease obligations and short-term borrowings	1	1
Intercompany payables	301	223
Total current liabilities	943	975
Non-current liabilities
Long-term debt and capital lease obligations	21	20
Deferred tax liabilities	57	56
Intercompany loans	346	431
Other non-current liabilities	331	384
Total liabilities	1,698	1,866
Total stockholders’ equity	2,197	2,459
Noncontrolling interests	72	77
Total equity	2,269	2,536
Total liabilities and equity	3,967	4,402
Consolidation Eliminations
Current assets
Intercompany receivables	(1,024)	(652)
Total current assets	(1,024)	(652)
Non-current assets
Equity investment in subsidiaries	(8,985)	(12,737)
Intercompany loans	(14,458)
Intercompany receivables		(11,177)
Total assets	(24,467)	(24,566)
Current liabilities
Intercompany payables	(1,024)	(652)
Total current liabilities	(1,024)	(652)
Non-current liabilities
Intercompany loans	(14,458)	(11,177)
Total liabilities	(15,482)	(11,829)
Total stockholders’ equity	(8,985)	(12,737)
Total equity	(8,985)	(12,737)
Total liabilities and equity	$ (24,467)	$ (24,566)

Guarantor Financial Informati59

Guarantor Financial Information - Condensed Consolidating Statement of Cash Flows (Unaudited) (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Condensed Financial Statements Captions [Line Items]
Net cash (used in)/provided by operating activities	$ 778	$ 692
Investing Activities
Acquisition of subsidiaries and affiliates, net of cash acquired	(198)	(203)
Additions to property, plant and equipment and other assets	(100)	(96)
Additions to intangible assets	(206)	(178)
Net cash used in investing activities	(504)	(477)
Financing Activities
Net repayments under revolving credit facility	(70)
Repayment of debt	(74)	(4,573)
Proceeds from issuances of debt, net of issuance costs	746	4,544
Cash dividends paid to stockholders	(307)	(261)
Repurchase of common stock	(493)	(75)
Proceeds from exercise of stock options	40	80
Excess tax benefits from stock-based compensation	30
Settlement of intercompany and other financing activities	(16)	(91)
Net cash used in financing activities	(144)	(376)
Effect of exchange-rate changes on cash and cash equivalents	(45)	(34)
Net decrease in cash and cash equivalents	85	(195)
Cash and cash equivalents at beginning of period	273	564
Cash and cash equivalents at end of period	358	369
Parent
Condensed Financial Statements Captions [Line Items]
Net cash (used in)/provided by operating activities	(2)	2
Investing Activities
Net cash used in investing activities		5
Other investing activities		5
Financing Activities
Cash dividends paid to stockholders	(307)	(261)
Repurchase of common stock	(493)	(75)
Proceeds from exercise of stock options	46	91
Settlement of intercompany and other financing activities	708	240
Net cash used in financing activities	(46)	(5)
Net decrease in cash and cash equivalents	(48)	2
Cash and cash equivalents at beginning of period	49	12
Cash and cash equivalents at end of period	1	14
Issuers
Condensed Financial Statements Captions [Line Items]
Net cash (used in)/provided by operating activities	299	452
Financing Activities
Repayment of debt	(74)	(4,572)
Proceeds from issuances of debt, net of issuance costs	746	4,544
Settlement of intercompany and other financing activities	(973)	(404)
Net cash used in financing activities	(301)	(432)
Net decrease in cash and cash equivalents	(2)	20
Cash and cash equivalents at beginning of period	1
Cash and cash equivalents at end of period	(1)	20
Guarantor
Condensed Financial Statements Captions [Line Items]
Net cash (used in)/provided by operating activities	308	109
Investing Activities
Acquisition of subsidiaries and affiliates, net of cash acquired	(197)	(121)
Additions to property, plant and equipment and other assets	(66)	(63)
Additions to intangible assets	(183)	(159)
Net cash used in investing activities	(446)	(348)
Other investing activities		(5)
Financing Activities
Net repayments under revolving credit facility	(70)
Proceeds from exercise of stock options	(6)	(6)
Excess tax benefits from stock-based compensation	30
Settlement of intercompany and other financing activities	250	59
Net cash used in financing activities	204	53
Effect of exchange-rate changes on cash and cash equivalents	(2)
Net decrease in cash and cash equivalents	64	(186)
Cash and cash equivalents at beginning of period	(51)	205
Cash and cash equivalents at end of period	13	19
Non-Guarantor
Condensed Financial Statements Captions [Line Items]
Net cash (used in)/provided by operating activities	173	129
Investing Activities
Acquisition of subsidiaries and affiliates, net of cash acquired	(1)	(82)
Additions to property, plant and equipment and other assets	(34)	(33)
Additions to intangible assets	(23)	(19)
Net cash used in investing activities	(58)	(134)
Financing Activities
Repayment of debt		(1)
Proceeds from exercise of stock options		(5)
Settlement of intercompany and other financing activities	(1)	14
Net cash used in financing activities	(1)	8
Effect of exchange-rate changes on cash and cash equivalents	(43)	(34)
Net decrease in cash and cash equivalents	71	(31)
Cash and cash equivalents at beginning of period	274	347
Cash and cash equivalents at end of period	$ 345	$ 316