Paramount Global (PARA) 10-Q 5 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 31, 2015
Document And Entity Information [Abstract]
Entity Registrant Name	CBS Corporation
Entity Central Index Key	813,828
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Common Class A [Member]
Shares of common stock outstanding		37,826,904
Common Class B [Member]
Shares of common stock outstanding		444,408,370

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement [Abstract]
Revenues	$ 3,219,000,000	$ 3,188,000,000	$ 6,719,000,000	$ 6,758,000,000
Expenses:
Operating	1,907,000,000	1,798,000,000	4,049,000,000	3,919,000,000
Selling, general and administrative	605,000,000	589,000,000	1,193,000,000	1,176,000,000
Restructuring charges (Note 11)	55,000,000	0	55,000,000	0
Depreciation and amortization	66,000,000	71,000,000	134,000,000	142,000,000
Total expenses	2,633,000,000	2,458,000,000	5,431,000,000	5,237,000,000
Operating income (loss)	586,000,000	730,000,000	1,288,000,000	1,521,000,000
Interest expense	(94,000,000)	(94,000,000)	(187,000,000)	(187,000,000)
Interest income	7,000,000	3,000,000	12,000,000	6,000,000
Other items, net	4,000,000	6,000,000	0	11,000,000
Earnings from continuing operations before income taxes and equity in earnings (loss) of investee companies	503,000,000	645,000,000	1,113,000,000	1,351,000,000
Provision for income taxes	(165,000,000)	(217,000,000)	(368,000,000)	(451,000,000)
Equity in loss of investee companies, net of tax	(6,000,000)	(10,000,000)	(19,000,000)	(20,000,000)
Net earnings from continuing operations	332,000,000	418,000,000	726,000,000	880,000,000
Net earnings (loss) from discontinued operations, net of tax	0	21,000,000	0	27,000,000
Net earnings	$ 332,000,000	$ 439,000,000	$ 726,000,000	$ 907,000,000
Basic net earnings per common share:
Basic net earnings from continuing operations per common share (in dollars per share)	$ 0.68	$ 0.73	$ 1.47	$ 1.52
Basic net earnings from discontinued operations per common share (in dollars per share)	0	0.04	0	0.05
Basic net earnings per common share (in dollars per share)	0.68	0.77	1.47	1.57
Diluted net earnings per common share:
Diluted net earnings from continuing operations per common share (in dollars per share)	0.67	0.72	1.45	1.49
Diluted net earnings from discontinued operations per common share (in dollars per share)	0	0.04	0	0.05
Diluted net earnings per common share (in dollars per share)	$ 0.67	$ 0.76	$ 1.45	$ 1.54
Weighted average number of common shares outstanding:
Basic weighted average number of common shares outstanding	490	570	494	578
Diluted weighted average number of common shares outstanding	495	581	500	590
Dividends per common share (in dollars per share)	$ 0.15	$ 0.12	$ 0.30	$ 0.24

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Comprehensive Income (Loss), Net of Tax [Abstract]
Net earnings (loss)	$ 332	$ 439	$ 726	$ 907
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Other comprehensive income from discontinued operations, net of tax			(3)	8
Other comprehensive income (loss), net of tax	11	20	17	22
Total comprehensive income (loss), net of tax	343	459	743	929
Continuing Operations [Member]
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Cumulative translation adjustments	2	(1)	(2)	(7)
Amortization of net actuarial loss	9	7	18	14
Changes in fair value of cash flow hedges	0	0	1	0
Other comprehensive income (loss), net of tax	11	6	17	7
Discontinued Operations [Member]
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Other comprehensive income from discontinued operations, net of tax	$ 0	$ 14	$ 0	15
Other comprehensive income (loss), net of tax				$ 15

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Assets, Current [Abstract]
Cash and cash equivalents	$ 320	$ 428
Receivables, less allowances of $60 (2015) and $50 (2014)	3,124	3,459
Programming and other inventory (Note 4)	1,156	922
Deferred income tax assets, net	119	104
Prepaid income taxes	62	161
Prepaid expenses	123	129
Other current assets	328	386
Total current assets	5,232	5,589
Property and equipment	3,190	3,164
Less accumulated depreciation and amortization	1,814	1,731
Net property and equipment	1,376	1,433
Programming and other inventory (Note 4)	1,805	1,817
Goodwill	6,663	6,698
Intangible assets	5,997	6,008
Other assets	2,559	2,488
Assets of discontinued operations	30	39
Total Assets	23,662	24,072
Liabilities, Current [Abstract]
Accounts payable	198	302
Accrued compensation	209	333
Participants' share and royalties payable	975	999
Program rights	406	404
Deferred revenues	136	206
Commercial paper (Note 6)	394	616
Current portion of long-term debt (Note 6)	20	20
Accrued expenses and other current liabilities	1,093	1,127
Current liabilities of discontinued operations	36	26
Total current liabilities	3,467	4,033
Long-term debt (Note 6)	7,686	6,510
Pension and postretirement benefit obligations	1,515	1,564
Deferred income tax liabilities, net	1,611	1,530
Other liabilities	3,332	3,347
Liabilities of discontinued operations (Note 3)	$ 88	$ 118
Commitments and contingencies (Note 10)
Stockholders' Equity [Abstract]
Common stock	$ 1	$ 1
Additional paid-in capital	44,090	44,041
Accumulated deficit	(21,205)	(21,931)
Accumulated other comprehensive loss (Note 8)	(718)	(735)
Stockholders' equity including treasury stock	22,168	21,376
Less treasury stock, at cost	16,205	14,406
Total Stockholders' Equity	5,963	6,970
Total Liabilities and Stockholders' Equity	23,662	24,072
Other liabilities	$ 3,332	$ 3,347
Commitments and contingencies (Note 10)
Common Class A [Member]
Stockholders' Equity [Abstract]
Common stock	$ 0	$ 0
Common Class B [Member]
Stockholders' Equity [Abstract]
Common stock	$ 1	$ 1

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Balance Sheet Parentheticals [Abstract]
Receivables, allowances	$ 60	$ 50
Common Class A [Member]
Class of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	375	375
Common stock, shares, issued	38	38
Common Class B [Member]
Class of Stock [Line Items]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	5,000	5,000
Common stock, shares, issued	825	818
Treasury stock, shares	379	349

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Operating Activities
Net earnings (loss)	$ 726,000,000	$ 907,000,000
Net earnings from discontinued operations	0	27,000,000
Net earnings from continuing operations	726,000,000	880,000,000
Adjustments to reconcile net earnings from continuing operations to net cash flow provided by operating activities from continuing operations:
Depreciation and amortization	134,000,000	142,000,000
Stock-based compensation	89,000,000	84,000,000
Equity in loss of investee companies, net of tax and distributions	22,000,000	28,000,000
Change in assets and liabilities, net of investing and financing activities	(90,000,000)	(541,000,000)
Net cash flow provided by (used for) operating activities from continuing operations	881,000,000	593,000,000
Net cash flow provided by (used for) operating activities from discontinued operations	(18,000,000)	31,000,000
Net cash flow provided by (used for) operating activities	863,000,000	624,000,000
Investing Activities
Capital expenditures	(46,000,000)	(69,000,000)
Investments in and advances to investee companies	(55,000,000)	(64,000,000)
Proceeds from sale of investments	0	3,000,000
Proceeds from dispositions	59,000,000	5,000,000
Other investing activities	3,000,000	(1,000,000)
Net cash flow provided by (used for) investing activities from continuing operations	(39,000,000)	(126,000,000)
Net cash flow provided by (used for) investing activities from discontinued operations	(3,000,000)	(23,000,000)
Net cash flow provided by (used for) investing activities	(42,000,000)	(149,000,000)
Financing Activities
Repayments of short-term debt borrowings, net	(222,000,000)	(94,000,000)
Proceeds from issuance of notes, net	1,178,000,000	0
Repayment of notes	0	(99,000,000)
Payment of capital lease obligations	(8,000,000)	(8,000,000)
Dividends	(155,000,000)	(145,000,000)
Purchase of Company common stock	(1,832,000,000)	(2,468,000,000)
Payment of payroll taxes in lieu of issuing shares for stock-based compensation	(95,000,000)	(145,000,000)
Proceeds from exercise of stock options	123,000,000	192,000,000
Excess tax benefit from stock-based compensation	82,000,000	204,000,000
Net cash flow provided by (used for) financing activities from continuing operations	(929,000,000)	(2,563,000,000)
Net cash flow provided by (used for) financing activities from discontinued operations	0	2,175,000,000
Net cash flow provided by (used for) financing activities	(929,000,000)	(388,000,000)
Net increase (decrease) in cash and cash equivalents	(108,000,000)	87,000,000
Cash and cash equivalents, including discontinued operations, at beginning of period	428,000,000	397,000,000
Cash and cash equivalents, including discontinued operations, at end of period	320,000,000	484,000,000
Continuing Operations [Member]
Supplemental Cash Flow [Line Items]
Cash paid for interest	163,000,000	181,000,000
Cash paid for taxes	$ 125,000,000	$ 212,000,000

Consolidated Statement of Cash

Consolidated Statement of Cash Flows (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2014	Dec. 31, 2013
Statement of Cash Flows [Abstract]
Cash and cash equivalents of discontinued operations	$ 223	$ 29

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	1 ) BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of Business- CBS Corporation (together with its consolidated subsidiaries unless the context otherwise requires, the “Company” or “CBS Corp.”) is comprised of the following segments: Entertainment (CBS Television, comprised of the CBS Television Network, CBS Television Studios and CBS Global Distribution Group; CBS Interactive and CBS Films), Cable Networks (Showtime Networks, CBS Sports Network and Smithsonian Networks), Publishing (Simon & Schuster) and Local Broadcasting (CBS Television Stations and CBS Radio). Discontinued Operations -On July 16, 2014 , the Company completed the disposition of CBS Outdoor Americas Inc. (“Outdoor Americas”), which was previously a subsidiary of the Company and has been renamed OUTFRONT Media Inc. Outdoor Americas has been presented as a discontinued operation in the Company's consolidated financial statements (See Note 3 ). Basis of Presentation -The accompanying unaudited consolidated financial statements of the Company have been prepared pursuant to the rules of the Securities and Exchange Commission. These financial statements should be read in conjunction with the more detailed financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2014 . In the opinion of management, the accompanying unaudited financial statements reflect all adjustments, consisting of normal and recurring adjustments, necessary for a fair statement of the financial position, results of operations and cash flows of the Company for the periods presented. Certain previously reported amounts have been reclassified to conform to the current presentation. Use of Estimates -The preparation of the Company’s financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amount of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. Net Earnings per Common Share -Basic net earnings per share (“EPS”) is based upon net earnings divided by the weighted average number of common shares outstanding during the period. Diluted EPS reflects the effect of the assumed exercise of stock options and vesting of restricted stock units (“RSUs”) and market-based performance share units (“PSUs”) only in the periods in which such effect would have been dilutive. Excluded from the calculation of diluted EPS because their inclusion would have been anti-dilutive, were 4 million stock options for both the three and six months ended June 30, 2015 and 2 million stock options for both the three and six months ended June 30, 2014 . The table below presents a reconciliation of weighted average shares used in the calculation of basic and diluted EPS. Three Months Ended Six Months Ended June 30, June 30, (in millions) 2015 2014 2015 2014 Weighted average shares for basic EPS 490 570 494 578 Dilutive effect of shares issuable under stock-based compensation plans 5 11 6 12 Weighted average shares for diluted EPS 495 581 500 590 Other Liabilities -Other liabilities consist primarily of the noncurrent portion of residual liabilities of previously disposed businesses, participants’ share and royalties payable, program rights obligations, deferred compensation and other employee benefit accruals. Additional Paid-In Capital -For the six months ended June 30, 2015 and 2014 , the Company recorded dividends of $150 million and $139 million , respectively, as a reduction to additional paid-in capital as the Company had an accumulated deficit balance. Adoption of New Accounting Standards Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity During the first quarter of 2015, the Company adopted amended Financial Accounting Standards Board (“FASB”) guidance which changes the requirements for reporting discontinued operations and requires additional disclosures about discontinued operations and disposals of components of an entity that do not qualify for discontinued operations reporting. Under this guidance, only a disposal of a component of an entity or a group of components of an entity that represents a strategic shift that has (or will have) a major effect on the company’s operations and financial results should be reported in discontinued operations. The guidance also expands the definition of a discontinued operation to include a business or nonprofit activity that, on acquisition, meets the criteria to be classified as held for sale and disposals of equity method investments that meet the definition of discontinued operations. The adoption of this guidance did not have an effect on the Company's consolidated financial statements. Recent Pronouncements Simplifying the Presentation of Debt Issuance Costs In April 2015, the FASB issued amended guidance which requires debt issuance costs to be presented on the balance sheet as a direct deduction from the carrying amount of the related debt, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by this amended guidance. This guidance, which is effective for interim and annual periods beginning after December 15, 2015, with early adoption permitted, is not expected to have a material impact on the Company’s consolidated financial statements. Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items In January 2015, the FASB issued amended guidance which eliminates the concept of extraordinary items. This guidance removes the requirement to assess whether an event or transaction is both unusual in nature and infrequent in occurrence and to separately present any such items on the statement of operations after income from continuing operations. Rather, such items will either be presented as a separate component of income from continuing operations or disclosed in the notes to the financial statements. This guidance is effective for interim and annual periods beginning after December 15, 2015. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. Additionally, the Company is permitted to amend prior periods presented in the financial statements once the guidance is adopted. Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern In August 2014, the FASB issued guidance which requires management to evaluate, for each interim and annual reporting period, whether there are conditions or events that raise substantial doubt about an entity's ability to continue as a going concern within one year after the date the financial statements are issued. If management identifies conditions or events that raise substantial doubt, disclosures are required in the financial statements, including any plans that will alleviate the substantial doubt about the entity's ability to continue as a going concern. This guidance, which is effective for the first annual period ending after December 15, 2016, is not expected to have an impact on the Company’s consolidated financial statements. Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period In June 2014, the FASB issued guidance on the accounting for stock-based compensation when the terms of an award provide that a performance target that affects vesting could be achieved after the requisite service period. Under this guidance such performance target should not be reflected in estimating the grant-date fair value of the award. Compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved and should represent the compensation cost attributable to the period(s) for which the requisite service has already been rendered. This guidance, which is effective for interim and annual periods beginning after December 15, 2015, is not expected to have a material impact on the Company’s consolidated financial statements. Revenue from Contracts with Customers In May 2014, the FASB issued guidance on the recognition of revenues which provides a single, comprehensive revenue recognition model for all contracts with customers and supersedes most existing revenue recognition guidance. The main principle under this guidance is that an entity should recognize revenue at the amount it expects to be entitled to in exchange for the transfer of goods or services to customers. The Company is currently evaluating the impact of this guidance, which is effective for interim and annual reporting periods beginning after December 15, 2017, with early adoption permitted for interim and annual reporting periods beginning after December 15, 2016.

Stock-based Compensation

Stock-based Compensation	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based Compensation	2 ) STOCK-BASED COMPENSATION The following table summarizes the Company’s stock-based compensation expense for the three and six months ended June 30, 2015 and 2014 . Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 RSUs and PSUs $ 35 $ 35 $ 73 $ 69 Stock options and equivalents 8 9 16 15 Stock-based compensation expense, before income taxes 43 44 89 84 Related tax benefit (16 ) (17 ) (34 ) (33 ) Stock-based compensation expense, net of tax benefit $ 27 $ 27 $ 55 $ 51 During the six months ended June 30, 2015 , the Company granted 3 million RSUs for CBS Corp. Class B Common Stock with a weighted average per unit grant-date fair value of $59.18 . RSUs granted during the first six months of 2015 generally vest over a one - to four -year service period. Compensation expense for RSUs is determined based upon the market price of the shares underlying the awards on the date of grant. For certain RSU awards the number of shares an employee earns ranges from 0% to 120% of the target award, based on the outcome of established performance goals. Compensation expense is recorded based on the probable outcome of the performance conditions. During the six months ended June 30, 2015 , the Company also granted 2 million stock options with a weighted average exercise price of $59.60 . Stock options granted during the first six months of 2015 vest over a four -year service period and expire eight years from the date of grant. Compensation expense for stock options is determined based on the grant date fair value of the award calculated using the Black-Scholes options-pricing model. Total unrecognized compensation cost related to unvested RSUs at June 30, 2015 was $271 million , which is expected to be recognized over a weighted average period of 2.6 years . Total unrecognized compensation cost related to unvested stock option awards at June 30, 2015 was $66 million , which is expected to be recognized over a weighted average period of 2.8 years .

Discontinued Operations

Discontinued Operations	6 Months Ended
	Jun. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	3 ) DISCONTINUED OPERATIONS During 2014 , the Company completed the disposition of Outdoor Americas. Outdoor Americas has been presented as a discontinued operation in the Company’s consolidated financial statements. In connection with the Company’s plan to dispose of Outdoor Americas, in January 2014 Outdoor Americas borrowed $1.60 billion . On April 2, 2014, Outdoor Americas completed an IPO through which it sold 23.0 million shares, or approximately 19% , of its common stock for $28.00 per share. Proceeds from the IPO aggregated $615 million , net of underwriting discounts and commissions. The Company received $2.04 billion of the combined IPO and debt proceeds from Outdoor Americas. On July 16, 2014 , the Company completed the disposition of its 81% ownership of Outdoor Americas common stock through a tax-free split-off through which the Company accepted 44.7 million shares of CBS Corp. Class B Common Stock from its stockholders in exchange for the 97.0 million shares, or approximately 81% of Outdoor Americas common stock that it owned. The following table sets forth details of the net earnings from discontinued operations. Three Months Ended Six Months Ended June 30, 2014 June 30, 2014 Revenues from discontinued operations $ 334 $ 622 Earnings from discontinued operations $ 40 $ 54 Income tax provision (14 ) (22 ) Net earnings from discontinued operations, net of tax 26 32 Less: Net earnings from discontinued operations attributable to noncontrolling interest, net of tax 5 5 Net earnings from discontinued operations attributable to CBS Corp. $ 21 $ 27 Noncurrent liabilities of discontinued operations of $88 million and $118 million at June 30, 2015 and December 31, 2014 , respectively, primarily include tax reserves related to previously disposed businesses and the carrying value of a guarantee liability associated with the Company’s disposition of its outdoor advertising business in Europe (“Outdoor Europe”) of approximately $28 million at both June 30, 2015 and December 31, 2014 (See Note 10 ).

Programming and Other Inventory

Programming and Other Inventory	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Programming and Other Inventory	4 ) PROGRAMMING AND OTHER INVENTORY At At June 30, 2015 December 31, 2014 Program rights $ 1,632 $ 1,471 Television programming: Released (including acquired libraries) 1,051 983 In process and other 153 179 Theatrical programming: Released 27 23 In process and other 46 36 Publishing, primarily finished goods 52 47 Total programming and other inventory 2,961 2,739 Less current portion 1,156 922 Total noncurrent programming and other inventory $ 1,805 $ 1,817

Related Parties

Related Parties	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Related Parties	5 ) RELATED PARTIES National Amusements, Inc. National Amusements, Inc. (“NAI”) is the controlling stockholder of CBS Corp. and Viacom Inc. Mr. Sumner M. Redstone, the controlling stockholder, chairman of the board of directors and chief executive officer of NAI, is the Executive Chairman of the Board of Directors and founder of both CBS Corp. and Viacom Inc. In addition, Ms. Shari Redstone, Mr. Sumner M. Redstone’s daughter, is the president and a director of NAI and the vice chair of the Board of Directors of both CBS Corp. and Viacom Inc. Mr. David R. Andelman is a director of CBS Corp. and serves as a director of NAI. Mr. Frederic V. Salerno is a director of CBS Corp. and serves as a director of Viacom Inc. At June 30, 2015 , NAI directly or indirectly owned approximately 79.6% of CBS Corp.’s voting Class A Common Stock, and owned approximately 8.1% of CBS Corp.’s Class A Common Stock and non-voting Class B Common Stock on a combined basis. Viacom Inc. As part of its normal course of business, the Company licenses its television content, leases production facilities and sells advertising spots to various subsidiaries of Viacom Inc. Viacom Inc. also distributes certain of the Company’s television programs in the home entertainment market. The Company’s total revenues from these transactions were $54 million and $48 million for the three months ended June 30, 2015 and 2014 , respectively, and $100 million and $83 million for the six months ended June 30, 2015 and 2014 , respectively. The Company places advertisements with and leases production facilities from various subsidiaries of Viacom Inc. The total amounts for these transactions were $5 million and $3 million for the three months ended June 30, 2015 and 2014 , respectively, and $11 million and $8 million for the six months ended June 30, 2015 and 2014 , respectively. The following table presents the amounts due from Viacom Inc. in the normal course of business as reflected on the Company’s Consolidated Balance Sheets. Amounts due to Viacom Inc. were minimal at June 30, 2015 and December 31, 2014 . At At June 30, 2015 December 31, 2014 Receivables $ 86 $ 107 Other assets (Receivables, noncurrent) 76 76 Total amounts due from Viacom Inc . $ 162 $ 183 Other Related Parties. The Company has equity interests in two domestic television networks and several international joint ventures for television channels, from which the Company earns revenues primarily by selling its television programming. Total revenues earned from sales to these joint ventures were $23 million and $26 million for the three months ended June 30, 2015 and 2014 , respectively, and $71 million and $63 million for the six months ended June 30, 2015 and 2014 , respectively. The Company, through the normal course of business, is involved in transactions with other related parties that have not been material in any of the periods presented.

Bank Financing and Debt

Bank Financing and Debt	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Bank Financing and Debt	6 ) BANK FINANCING AND DEBT The following table sets forth the Company’s debt. At At June 30, 2015 December 31, 2014 Commercial paper $ 394 $ 616 Senior debt (1.95% - 7.875% due 2016 - 2045) (a) 7,615 6,433 Obligations under capital leases 91 97 Total debt 8,100 7,146 Less commercial paper 394 616 Less current portion of long-term debt 20 20 Total long-term debt, net of current portion $ 7,686 $ 6,510 (a) At June 30, 2015 and December 31, 2014 , the senior debt balances included (i) a net unamortized discount of $33 million and $21 million , respectively, and (ii) an increase in the carrying value of the debt relating to previously settled fair value hedges of $5 million and $14 million , respectively. At June 30, 2015 , the senior debt balances also included an increase in the carrying value of the debt relating to outstanding fair value hedges of $3 million . Such amount was minimal at December 31, 2014 . The face value of the Company’s senior debt was $7.64 billion and $6.44 billion at June 30, 2015 and December 31, 2014 , respectively. During July 2015, the Company issued $800 million of 4.00% senior notes due 2026 . During January 2015, the Company issued $600 million of 3.50% senior notes due 2025 and $600 million of 4.60% senior notes due 2045 . The Company is using the net proceeds from these issuances for general corporate purposes, including the repurchase of CBS Corp. Class B Common Stock and repayment of short-term borrowings, including commercial paper. At June 30, 2015 , the Company classified $200 million of debt maturing in January 2016 as long-term debt on the Consolidated Balance Sheet, reflecting its intent and ability to refinance this debt on a long-term basis. Commercial Paper The Company had outstanding commercial paper borrowings under its $2.5 billion commercial paper program of $394 million at June 30, 2015 and $616 million at December 31, 2014 at weighted average interest rates of 0.47% and 0.46% , respectively and with maturities of less than forty-five days. Credit Facility At June 30, 2015 , the Company had a $2.5 billion revolving credit facility (the “Credit Facility”) which expires in December 2019 . The Credit Facility requires the Company to maintain a maximum Consolidated Leverage Ratio of 4.5x at the end of each quarter as further described in the Credit Facility. At June 30, 2015 , the Company’s Consolidated Leverage Ratio was approximately 2.5x . The Consolidated Leverage Ratio is the ratio of the Company’s indebtedness from continuing operations, adjusted to exclude certain capital lease obligations, at the end of a quarter, to the Company’s Consolidated EBITDA for the trailing four consecutive quarters. Consolidated EBITDA is defined in the Credit Facility as operating income plus interest income and before depreciation, amortization and certain other noncash items. The Credit Facility is used for general corporate purposes. At June 30, 2015 , the Company had no borrowings outstanding under the Credit Facility and the remaining availability under the Credit Facility, net of outstanding letters of credit, was $2.49 billion .

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	6 Months Ended
	Jun. 30, 2015
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]
Pension and Other Postretirement Benefits	7 ) PENSION AND OTHER POSTRETIREMENT BENEFITS The components of net periodic cost for the Company’s pension and postretirement benefit plans were as follows: Pension Benefits Postretirement Benefits Three Months Ended June 30, 2015 2014 2015 2014 Components of net periodic cost: Service cost $ 8 $ 8 $ — $ — Interest cost 53 59 4 6 Expected return on plan assets (66 ) (66 ) — — Amortization of actuarial loss (gain) (a) 20 16 (5 ) (5 ) Net periodic cost $ 15 $ 17 $ (1 ) $ 1 Pension Benefits Postretirement Benefits Six Months Ended June 30, 2015 2014 2015 2014 Components of net periodic cost: Service cost $ 16 $ 16 $ — $ — Interest cost 105 118 9 12 Expected return on plan assets (131 ) (132 ) — — Amortization of actuarial loss (gain) (a) 40 32 (10 ) (10 ) Net periodic cost $ 30 $ 34 $ (1 ) $ 2 (a) Reflects amounts reclassified from accumulated other comprehensive income (loss) to net earnings.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2015
Stockholders' Equity Note [Abstract]
Stockholders' Equity	8 ) STOCKHOLDERS’ EQUITY During the second quarter of 2015 , the Company repurchased 13.2 million shares of its Class B Common Stock under its share repurchase program for $799 million , at an average cost of $60.38 per share. During the six months ended June 30, 2015 , the Company repurchased 30.5 million shares of its Class B Common Stock for $1.80 billion , at an average cost of $59.07 per share, leaving $3.00 billion of authorization at June 30, 2015 . During the second quarter of 2015 , the Company declared a quarterly cash dividend of $.15 on its Class A and Class B Common Stock, resulting in total dividends of $75 million , payable on July 1, 2015 . Accumulated Other Comprehensive Income (Loss) The following tables summarize the changes in the components of accumulated other comprehensive income (loss). Cumulative Translation Adjustments Net Actuarial Gain (Loss) and Prior Service Cost Change in Fair Value of Cash Flow Hedges Accumulated Other Comprehensive Loss At December 31, 2014 $ 158 $ (892 ) $ (1 ) $ (735 ) Other comprehensive income (loss) before reclassifications (2 ) — (1 ) (3 ) Reclassifications to net earnings — 18 (a) 2 (b) 20 Net other comprehensive income (loss) (2 ) 18 1 17 At June 30, 2015 $ 156 $ (874 ) $ — $ (718 ) Continuing Operations Discontinued Operations Cumulative Translation Adjustments Net Actuarial Gain (Loss) and Prior Service Cost Unrealized Gain on Securities Other Comprehensive Income (Loss) Accumulated Other Comprehensive Loss At December 31, 2013 $ 166 $ (729 ) $ 3 $ 15 $ (545 ) Other comprehensive income (loss) before reclassifications (7 ) — — 15 8 Reclassifications to net earnings — 14 (a) — — 14 Net other comprehensive income (loss) (7 ) 14 — 15 22 At June 30, 2014 $ 159 $ (715 ) $ 3 $ 30 $ (523 ) (a) Reflects amortization of net actuarial losses. See Note 7 . (b) Reflects loss recognized on designated foreign exchange contracts. See Note 12 . The net actuarial gain (loss) and prior service cost related to pension and other postretirement benefit plans included in other comprehensive income (loss) is net of a tax provision of $12 million and $8 million for the six months ended June 30, 2015 and 2014 , respectively.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	9 ) INCOME TAXES The provision for income taxes represents federal, state and local, and foreign income taxes on earnings from continuing operations before income taxes and equity in loss of investee companies. The provision for income taxes was $165 million for the three months ended June 30, 2015 and $217 million for the three months ended June 30, 2014 , reflecting an effective income tax rate of 32.8% and 33.6% , respectively. For the six months ended June 30, 2015 , the provision for income taxes was $368 million compared to $451 million for the six months ended June 30, 2014 , reflecting an effective income tax rate of 33.1% and 33.4% , respectively. During the first quarter of 2015, the Company and the IRS settled the Company’s income tax audit for the years 2011 and 2012, which did not have a material effect on the Company’s consolidated financial statements. The IRS is expected to commence its examination of the years 2013 and 2014 during the fourth quarter of 2015. During the second quarter of 2015, the reserve for uncertain tax positions decreased by $14 million as a result of a payment in a foreign jurisdiction for a tax matter related to a previously disposed business that is accounted for as a discontinued operation. During the next six months, the Company expects an additional decrease to its reserve for uncertain tax positions of approximately $14 million , plus accrued interest, relating to this matter. The Company is currently contesting this matter with the taxing authority. In addition, various tax years are currently under examination by state and local and other foreign tax authorities. With respect to open tax years in all jurisdictions, the Company currently believes that it is reasonably possible that the reserve for uncertain tax positions will change within the next twelve months; however, as it is difficult to predict the final outcome of any particular tax matter, an estimate of any additional impact to the reserve for uncertain tax positions cannot currently be determined.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	10 ) COMMITMENTS AND CONTINGENCIES Guarantees During 2013, the Company completed the sale of Outdoor Europe. The Company continues to be the guarantor of certain of Outdoor Europe’s obligations, including franchise payment obligations under certain transit franchise agreements. Generally, the Company would be required to perform under the guarantees in the event of non-performance by the buyer. These agreements have varying terms, with the majority of the obligations guaranteed under these agreements expiring by September 2016. At June 30, 2015 , the total franchise payment obligations under these agreements are estimated to be approximately $136 million , which will decrease on a monthly basis thereafter. The carrying value of the guarantee liability of approximately $28 million at both June 30, 2015 and December 31, 2014 is included in ‘‘Liabilities of discontinued operations’’ on the Consolidated Balance Sheets. The Company also has indemnification obligations with respect to letters of credit and surety bonds primarily used as security against non-performance in the normal course of business. At June 30, 2015 , the outstanding letters of credit and surety bonds approximated $196 million and were not recorded on the Consolidated Balance Sheet. In the course of its business, the Company both provides and receives indemnities which are intended to allocate certain risks associated with business transactions. Similarly, the Company may remain contingently liable for various obligations of a business that has been divested in the event that a third party does not live up to its obligations under an indemnification obligation. The Company records a liability for its indemnification obligations and other contingent liabilities when probable and reasonably estimable. Legal Matters General. On an ongoing basis, the Company vigorously defends itself in numerous lawsuits and proceedings and responds to various investigations and inquiries from federal, state, local and international authorities (collectively, ‘‘litigation’’). Litigation may be brought against the Company without merit, is inherently uncertain and always difficult to predict. However, based on its understanding and evaluation of the relevant facts and circumstances, the Company believes that the below-described legal matters and other litigation to which it is a party are not likely, in the aggregate, to have a material adverse effect on its results of operations, financial position or cash flows. Under the Separation Agreement between the Company and Viacom Inc., the Company and Viacom Inc. have agreed to defend and indemnify the other in certain litigation in which the Company and/or Viacom Inc. is named. Claims Related to Former Businesses: Asbestos. The Company is a defendant in lawsuits claiming various personal injuries related to asbestos and other materials, which allegedly occurred principally as a result of exposure caused by various products manufactured by Westinghouse, a predecessor, generally prior to the early 1970s. Westinghouse was neither a producer nor a manufacturer of asbestos. The Company is typically named as one of a large number of defendants in both state and federal cases. In the majority of asbestos lawsuits, the plaintiffs have not identified which of the Company’s products is the basis of a claim. Claims against the Company in which a product has been identified principally relate to exposures allegedly caused by asbestos-containing insulating material in turbines sold for power-generation, industrial and marine use. Claims are frequently filed and/or settled in groups, which may make the amount and timing of settlements, and the number of pending claims, subject to significant fluctuation from period to period. The Company does not report as pending those claims on inactive, stayed, deferred or similar dockets which some jurisdictions have established for claimants who allege minimal or no impairment. As of June 30, 2015 , the Company had pending approximately 38,000 asbestos claims, as compared with approximately 41,100 as of December 31, 2014 and 43,730 as of June 30, 2014 . During the second quarter of 2015 , the Company received approximately 1,020 new claims and closed or moved to an inactive docket approximately 3,110 claims. The Company reports claims as closed when it becomes aware that a dismissal order has been entered by a court or when the Company has reached agreement with the claimants on the material terms of a settlement. Settlement costs depend on the seriousness of the injuries that form the basis of the claims, the quality of evidence supporting the claims and other factors. The Company’s total costs for the years 2014 and 2013 for settlement and defense of asbestos claims after insurance recoveries and net of tax benefits were approximately $11 million and $29 million , respectively. The Company’s costs for settlement and defense of asbestos claims may vary year to year and insurance proceeds are not always recovered in the same period as the insured portion of the expenses. The Company believes that its reserves and insurance are adequate to cover its asbestos liabilities. This belief is based upon many factors and assumptions, including the number of outstanding claims, estimated average cost per claim, the breakdown of claims by disease type, historic claim filings, costs per claim of resolution and the filing of new claims. While the number of asbestos claims filed against the Company has trended down in the past five to ten years and has remained flat in recent years, it is difficult to predict future asbestos liabilities, as events and circumstances may occur including, among others, the number and types of claims and average cost to resolve such claims, which could affect the Company’s estimate of its asbestos liabilities. Other. The Company from time to time receives claims from federal and state environmental regulatory agencies and other entities asserting that it is or may be liable for environmental cleanup costs and related damages principally relating to historical and predecessor operations of the Company. In addition, the Company from time to time receives personal injury claims including toxic tort and product liability claims (other than asbestos) arising from historical operations of the Company and its predecessors.

Restructuring Charges

Restructuring Charges	6 Months Ended
	Jun. 30, 2015
Restructuring Charges [Abstract]
Restructuring Charges	11 ) RESTRUCTURING CHARGES During the second quarter of 2015, in a continued effort to reduce its cost structure, the Company initiated restructuring plans across several of its businesses, primarily for the reorganization of certain business operations. As a result, the Company recorded restructuring charges of $55 million , reflecting $34 million of severance costs and $21 million of costs associated with exiting contractual obligations and other related costs. During the year ended December 31, 2014 , the Company recorded restructuring charges of $26 million , reflecting $17 million of severance costs and $9 million of costs associated with exiting contractual obligations. As of June 30, 2015 , the cumulative settlements for the 2015 and 2014 restructuring charges were $24 million , of which $17 million was for severance costs and $7 million was for costs associated with contractual obligations. The Company expects to substantially utilize its restructuring reserves by the end of 2016 . Balance at 2015 2015 Balance at December 31, 2014 Charges Settlements June 30, 2015 Entertainment $ 6 $ 12 $ (4 ) $ 14 Local Broadcasting 10 43 (11 ) 42 Corporate 2 — (1 ) 1 Total $ 18 $ 55 $ (16 ) $ 57 2014 2014 Balance at Charges Settlements December 31, 2014 Entertainment $ 8 $ (2 ) $ 6 Publishing 1 (1 ) — Local Broadcasting 14 (4 ) 10 Corporate 3 (1 ) 2 Total $ 26 $ (8 ) $ 18

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Financial Instruments and Fair Value Measurements	12 ) FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS The Company’s carrying value of financial instruments approximates fair value, except for differences with respect to notes and debentures. At June 30, 2015 and December 31, 2014 , the carrying value of the Company’s senior debt was $7.62 billion and $6.43 billion , respectively, and the fair value, which is estimated based on quoted market prices for similar liabilities (Level 2) and includes accrued interest, was $7.96 billion and $7.15 billion , respectively. The Company uses derivative financial instruments primarily to modify its exposure to market risks from fluctuations in interest rates and foreign currency exchange rates. The Company does not use derivative instruments unless there is an underlying exposure and, therefore, the Company does not hold or enter into derivative financial instruments for speculative trading purposes. Foreign Exchange Contracts Foreign exchange forward contracts have principally been used to hedge projected cash flows, generally within the next twelve months, in currencies such as the British Pound, the Euro, the Canadian Dollar and the Australian Dollar. The Company designates forward contracts used to hedge projected future production costs as cash flow hedges. Gains or losses on the effective portion of designated cash flow hedges are initially recorded in other comprehensive income (“OCI”) and reclassified to the statement of operations when the hedged item is recognized. Additionally, the Company enters into non-designated forward contracts to hedge non-U.S. dollar denominated cash flows. At June 30, 2015 and December 31, 2014 , the notional amount of all foreign exchange contracts was $296 million and $152 million , respectively. Interest Rate Swaps All of the Company's long-term debt has been issued under fixed interest rate agreements. The Company has $600 million notional amount of fixed-to-floating rate swaps outstanding to hedge its $600 million of 2.30% senior notes due 2019 . These interest rate swaps are designated as fair value hedges. The fair value of interest rate swaps is included within the carrying value of the debt attributable to the risk being hedged, and in other assets or other liabilities on the Consolidated Balance Sheet. Gains (losses) recognized on derivative financial instruments were as follows: Three Months Ended June 30, 2015 2014 Financial Statement Account Non-designated foreign exchange contracts $ (7 ) $ (2 ) Other items, net Designated interest rate swaps $ 3 $ — Interest expense Six Months Ended June 30, 2015 2014 Financial Statement Account Foreign exchange contracts: Designated hedging instruments: Recognized in OCI $ (1 ) $ (1 ) Change in fair value of cash flow hedges Reclassified from accumulated OCI $ (2 ) $ (1 ) Programming costs Non-designated hedging instruments $ 6 $ (2 ) Other items, net Designated interest rate swaps $ 5 $ — Interest expense The fair value of the Company’s derivative instruments was not material to the Consolidated Balance Sheets for any of the periods presented. The following tables set forth the Company’s assets and liabilities measured at fair value on a recurring basis at June 30, 2015 and December 31, 2014 . These assets and liabilities have been categorized according to the three-level fair value hierarchy established by the FASB, which prioritizes the inputs used in measuring fair value. Level 1 is based on publicly quoted prices for the asset or liability in active markets. Level 2 is based on inputs that are observable other than quoted market prices in active markets, such as quoted prices for the asset or liability in inactive markets or quoted prices for similar assets or liabilities. Level 3 is based on unobservable inputs reflecting the Company’s own assumptions about the assumptions that market participants would use in pricing the asset or liability. At June 30, 2015 Level 1 Level 2 Level 3 Total Assets: Investments $ 77 $ — $ — $ 77 Interest rate swaps — 3 — 3 Foreign exchange contracts — 8 — 8 Total Assets $ 77 $ 11 $ — $ 88 Liabilities: Deferred compensation $ — $ 314 $ — $ 314 Foreign exchange contracts — 3 — 3 Total Liabilities $ — $ 317 $ — $ 317 At December 31, 2014 Level 1 Level 2 Level 3 Total Assets: Investments $ 80 $ — $ — $ 80 Foreign exchange contracts — 6 — 6 Total Assets $ 80 $ 6 $ — $ 86 Liabilities: Deferred compensation $ — $ 307 $ — $ 307 Foreign exchange contracts — 2 — 2 Total Liabilities $ — $ 309 $ — $ 309 The fair value of investments is determined based on publicly quoted market prices in active markets. The fair value of interest rate swaps and foreign currency hedges is determined based on the present value of future cash flows using observable inputs including interest rates, yield curves and foreign currency exchange rates. The fair value of deferred compensation is determined based on the fair value of the investments elected by employees.

Reportable Segments

Reportable Segments	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Reportable Segments	13 ) REPORTABLE SEGMENTS The following tables set forth the Company’s financial performance by reportable segment. The Company’s operating segments, which are the same as its reportable segments, have been determined in accordance with the Company’s internal management structure, which is organized based upon products and services. Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Revenues: Entertainment $ 1,785 $ 1,835 $ 4,046 $ 4,138 Cable Networks 615 516 1,154 1,053 Publishing 199 211 344 364 Local Broadcasting 654 665 1,250 1,291 Corporate/Eliminations (34 ) (39 ) (75 ) (88 ) Total Revenues $ 3,219 $ 3,188 $ 6,719 $ 6,758 Revenues generated between segments primarily reflect advertising sales and television license fees. These transactions are recorded at market value as if the sales were to third parties and are eliminated in consolidation. Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Intercompany Revenues: Entertainment $ 34 $ 39 $ 74 $ 85 Local Broadcasting 3 5 6 8 Total Intercompany Revenues $ 37 $ 44 $ 80 $ 93 The Company presents operating income (loss) excluding restructuring charges and impairment charges, if any, (“Segment Operating Income”) as the primary measure of profit and loss for its operating segments (“segment profit measure”) in accordance with FASB guidance for segment reporting. The Company began presenting Segment Operating Income as its segment profit measure in the first quarter of 2015 in order to align with the primary method the Company's management began using in 2015 to evaluate segment performance and to make decisions regarding the allocation of resources to its segments. The Company believes the presentation of Segment Operating Income is relevant and useful for investors because it allows investors to view segment performance in a manner similar to the primary method used by the Company’s management and enhances their ability to understand the Company’s operating performance. Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Segment Operating Income (Loss): Entertainment $ 262 $ 341 $ 608 $ 761 Cable Networks 220 213 471 467 Publishing 25 23 37 34 Local Broadcasting 198 215 359 394 Corporate (64 ) (62 ) (132 ) (135 ) Total Segment Operating Income 641 730 1,343 1,521 Restructuring charges (55 ) — (55 ) — Operating income 586 730 1,288 1,521 Interest expense (94 ) (94 ) (187 ) (187 ) Interest income 7 3 12 6 Other items, net 4 6 — 11 Earnings from continuing operations before income taxes and equity in loss of investee companies 503 645 1,113 1,351 Provision for income taxes (165 ) (217 ) (368 ) (451 ) Equity in loss of investee companies, net of tax (6 ) (10 ) (19 ) (20 ) Net earnings from continuing operations 332 418 726 880 Net earnings from discontinued operations, net of tax — 21 — 27 Net earnings $ 332 $ 439 $ 726 $ 907 Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Depreciation and Amortization: Entertainment $ 32 $ 35 $ 64 $ 72 Cable Networks 6 6 12 11 Publishing 2 1 3 3 Local Broadcasting 19 23 40 44 Corporate 7 6 15 12 Total Depreciation and Amortization $ 66 $ 71 $ 134 $ 142 Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Stock-based Compensation: Entertainment $ 16 $ 15 $ 32 $ 29 Cable Networks 2 3 5 5 Publishing 1 1 2 2 Local Broadcasting 9 8 16 15 Corporate 15 17 34 33 Total Stock-based Compensation $ 43 $ 44 $ 89 $ 84 Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Capital Expenditures: Entertainment $ 13 $ 20 $ 21 $ 37 Cable Networks 2 3 3 5 Publishing 2 1 2 1 Local Broadcasting 11 12 18 20 Corporate 1 5 2 6 Total Capital Expenditures $ 29 $ 41 $ 46 $ 69 At At June 30, 2015 December 31, 2014 Assets: Entertainment $ 10,282 $ 10,469 Cable Networks 2,260 2,113 Publishing 937 990 Local Broadcasting 9,520 9,585 Corporate 633 876 Discontinued operations 30 39 Total Assets $ 23,662 $ 24,072

Condensed Consolidating Financi

Condensed Consolidating Financial Statements	6 Months Ended
	Jun. 30, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Financial Statements	14 ) CONDENSED CONSOLIDATING FINANCIAL STATEMENTS CBS Operations Inc. is a wholly owned subsidiary of the Company. CBS Operations Inc. has fully and unconditionally guaranteed CBS Corp.’s senior debt securities. The following condensed consolidating financial statements present the results of operations, financial position and cash flows of CBS Corp., CBS Operations Inc., the direct and indirect Non-Guarantor Affiliates of CBS Corp. and CBS Operations Inc., and the eliminations necessary to arrive at the information for the Company on a consolidated basis. Statement of Operations For the Three Months Ended June 30, 2015 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Revenues $ 34 $ 3 $ 3,182 $ — $ 3,219 Expenses: Operating 14 2 1,891 — 1,907 Selling, general and administrative 12 55 538 — 605 Restructuring charges — — 55 — 55 Depreciation and amortization 2 5 59 — 66 Total expenses 28 62 2,543 — 2,633 Operating income (loss) 6 (59 ) 639 — 586 Interest (expense) income, net (118 ) (99 ) 130 — (87 ) Other items, net 1 (11 ) 14 — 4 Earnings (loss) before income taxes and equity in earnings (loss) of investee companies (111 ) (169 ) 783 — 503 Benefit (provision) for income taxes 36 55 (256 ) — (165 ) Equity in earnings (loss) of investee companies, net of tax 407 149 (6 ) (556 ) (6 ) Net earnings $ 332 $ 35 $ 521 $ (556 ) $ 332 Total comprehensive income $ 343 $ 34 $ 542 $ (576 ) $ 343 Statement of Operations For the Six Months Ended June 30, 2015 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Revenues $ 65 $ 6 $ 6,648 $ — $ 6,719 Expenses: Operating 30 3 4,016 — 4,049 Selling, general and administrative 24 116 1,053 — 1,193 Restructuring charges — — 55 — 55 Depreciation and amortization 3 10 121 — 134 Total expenses 57 129 5,245 — 5,431 Operating income (loss) 8 (123 ) 1,403 — 1,288 Interest (expense) income, net (233 ) (197 ) 255 — (175 ) Earnings (loss) before income taxes and equity in earnings (loss) of investee companies (225 ) (320 ) 1,658 — 1,113 Benefit (provision) for income taxes 73 104 (545 ) — (368 ) Equity in earnings (loss) of investee companies, net of tax 878 464 (19 ) (1,342 ) (19 ) Net earnings $ 726 $ 248 $ 1,094 $ (1,342 ) $ 726 Total comprehensive income $ 743 $ 247 $ 1,115 $ (1,362 ) $ 743 Statement of Operations For the Three Months Ended June 30, 2014 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Revenues $ 35 $ 3 $ 3,150 $ — $ 3,188 Expenses: Operating 15 2 1,781 — 1,798 Selling, general and administrative 17 50 522 — 589 Depreciation and amortization 2 3 66 — 71 Total expenses 34 55 2,369 — 2,458 Operating income (loss) 1 (52 ) 781 — 730 Interest (expense) income, net (115 ) (95 ) 119 — (91 ) Other items, net 1 (2 ) 7 — 6 Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of investee companies (113 ) (149 ) 907 — 645 Benefit (provision) for income taxes 39 51 (307 ) — (217 ) Equity in earnings (loss) of investee companies, net of tax 513 292 (10 ) (805 ) (10 ) Net earnings from continuing operations 439 194 590 (805 ) 418 Net earnings from discontinued operations, net of tax — — 21 — 21 Net earnings $ 439 $ 194 $ 611 $ (805 ) $ 439 Total comprehensive income $ 459 $ 191 $ 609 $ (800 ) $ 459 Statement of Operations For the Six Months Ended June 30, 2014 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Revenues $ 68 $ 6 $ 6,684 $ — $ 6,758 Expenses: Operating 31 3 3,885 — 3,919 Selling, general and administrative 32 114 1,030 — 1,176 Depreciation and amortization 3 7 132 — 142 Total expenses 66 124 5,047 — 5,237 Operating income (loss) 2 (118 ) 1,637 — 1,521 Interest (expense) income, net (229 ) (188 ) 236 — (181 ) Other items, net 1 (2 ) 12 — 11 Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of investee companies (226 ) (308 ) 1,885 — 1,351 Benefit (provision) for income taxes 77 105 (633 ) — (451 ) Equity in earnings (loss) of investee companies, net of tax 1,056 664 (20 ) (1,720 ) (20 ) Net earnings from continuing operations 907 461 1,232 (1,720 ) 880 Net earnings (loss) from discontinued operations, net of tax — (1 ) 28 — 27 Net earnings $ 907 $ 460 $ 1,260 $ (1,720 ) $ 907 Total comprehensive income $ 929 $ 456 $ 1,255 $ (1,711 ) $ 929 Balance Sheet At June 30, 2015 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Assets Cash and cash equivalents $ 27 $ 1 $ 292 $ — $ 320 Receivables, net 24 2 3,098 — 3,124 Programming and other inventory 3 2 1,151 — 1,156 Prepaid expenses and other current assets 185 32 442 (27 ) 632 Total current assets 239 37 4,983 (27 ) 5,232 Property and equipment 51 163 2,976 — 3,190 Less accumulated depreciation and amortization 25 108 1,681 — 1,814 Net property and equipment 26 55 1,295 — 1,376 Programming and other inventory 6 7 1,792 — 1,805 Goodwill 98 62 6,503 — 6,663 Intangible assets — — 5,997 — 5,997 Investments in consolidated subsidiaries 42,042 12,149 — (54,191 ) — Other assets 213 12 2,364 — 2,589 Intercompany — 2,450 22,896 (25,346 ) — Total Assets $ 42,624 $ 14,772 $ 45,830 $ (79,564 ) $ 23,662 Liabilities and Stockholders’ Equity Accounts payable $ 2 $ 19 $ 177 $ — $ 198 Participants’ share and royalties payable — — 975 — 975 Program rights 4 2 400 — 406 Commercial paper 394 — — — 394 Current portion of long-term debt 4 — 16 — 20 Accrued expenses and other current liabilities 403 210 888 (27 ) 1,474 Total current liabilities 807 231 2,456 (27 ) 3,467 Long-term debt 7,565 — 121 — 7,686 Other liabilities 2,943 245 3,358 — 6,546 Intercompany 25,346 — — (25,346 ) — Stockholders’ Equity: Preferred stock — — 126 (126 ) — Common stock 1 123 590 (713 ) 1 Additional paid-in capital 44,090 — 60,894 (60,894 ) 44,090 Retained earnings (deficit) (21,205 ) 14,508 (17,017 ) 2,509 (21,205 ) Accumulated other comprehensive income (loss) (718 ) (4 ) 102 (98 ) (718 ) 22,168 14,627 44,695 (59,322 ) 22,168 Less treasury stock, at cost 16,205 331 4,800 (5,131 ) 16,205 Total Stockholders’ Equity 5,963 14,296 39,895 (54,191 ) 5,963 Total Liabilities and Stockholders’ Equity $ 42,624 $ 14,772 $ 45,830 $ (79,564 ) $ 23,662 Balance Sheet At December 31, 2014 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Assets Cash and cash equivalents $ 63 $ 1 $ 364 $ — $ 428 Receivables, net 29 2 3,428 — 3,459 Programming and other inventory 4 3 915 — 922 Prepaid expenses and other current assets 306 27 477 (30 ) 780 Total current assets 402 33 5,184 (30 ) 5,589 Property and equipment 41 162 2,961 — 3,164 Less accumulated depreciation and amortization 15 98 1,618 — 1,731 Net property and equipment 26 64 1,343 — 1,433 Programming and other inventory 7 8 1,802 — 1,817 Goodwill 98 62 6,538 — 6,698 Intangible assets — — 6,008 — 6,008 Investments in consolidated subsidiaries 41,144 11,685 — (52,829 ) — Other assets 219 17 2,291 — 2,527 Intercompany — 2,726 21,772 (24,498 ) — Total Assets $ 41,896 $ 14,595 $ 44,938 $ (77,357 ) $ 24,072 Liabilities and Stockholders ’ Equity Accounts payable $ 3 $ 24 $ 275 $ — $ 302 Participants’ share and royalties payable — — 999 — 999 Program rights 5 3 396 — 404 Commercial paper 616 — — — 616 Current portion of long-term debt 4 — 16 — 20 Accrued expenses and other current liabilities 388 270 1,064 (30 ) 1,692 Total current liabilities 1,016 297 2,750 (30 ) 4,033 Long-term debt 6,383 — 127 — 6,510 Other liabilities 3,029 249 3,281 — 6,559 Intercompany 24,498 — — (24,498 ) — Stockholders’ Equity: Preferred stock — — 126 (126 ) — Common stock 1 123 590 (713 ) 1 Additional paid-in capital 44,041 — 60,894 (60,894 ) 44,041 Retained earnings (deficit) (21,931 ) 14,260 (18,111 ) 3,851 (21,931 ) Accumulated other comprehensive income (loss) (735 ) (3 ) 81 (78 ) (735 ) 21,376 14,380 43,580 (57,960 ) 21,376 Less treasury stock, at cost 14,406 331 4,800 (5,131 ) 14,406 Total Stockholders’ Equity 6,970 14,049 38,780 (52,829 ) 6,970 Total Liabilities and Stockholders’ Equity $ 41,896 $ 14,595 $ 44,938 $ (77,357 ) $ 24,072 Statement of Cash Flows For the Six Months Ended June 30, 2015 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Net cash flow (used for) provided by operating activities $ (301 ) $ (150 ) $ 1,314 $ — $ 863 Investing Activities: Capital expenditures — (2 ) (44 ) — (46 ) Investments in and advances to investee companies — — (55 ) — (55 ) Proceeds from dispositions — — 59 — 59 Other investing activities 4 — (1 ) — 3 Net cash flow provided by (used for) investing activities from continuing operations 4 (2 ) (41 ) — (39 ) Net cash flow used for investing activities from discontinued operations (3 ) — — — (3 ) Net cash flow provided by (used for) investing activities 1 (2 ) (41 ) — (42 ) Financing Activities: Repayments of short-term debt borrowings, net (222 ) — — — (222 ) Proceeds from issuance of notes, net 1,178 — — — 1,178 Payment of capital lease obligations — — (8 ) — (8 ) Dividends (155 ) — — — (155 ) Purchase of Company common stock (1,832 ) — — — (1,832 ) Payment of payroll taxes in lieu of issuing shares for stock-based compensation (95 ) — — — (95 ) Proceeds from exercise of stock options 123 — — — 123 Excess tax benefit from stock-based compensation 82 — — — 82 Increase (decrease) in intercompany payables 1,185 152 (1,337 ) — — Net cash flow provided by (used for) financing activities 264 152 (1,345 ) — (929 ) Net decrease in cash and cash equivalents (36 ) — (72 ) — (108 ) Cash and cash equivalents at beginning of period 63 1 364 — 428 Cash and cash equivalents at end of period $ 27 $ 1 $ 292 $ — $ 320 Statement of Cash Flows For the Six Months Ended June 30, 2014 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Net cash flow (used for) provided by operating activities $ (334 ) $ (166 ) $ 1,124 $ — $ 624 Investing Activities: Capital expenditures — (6 ) (63 ) — (69 ) Investments in and advances to investee companies — — (64 ) — (64 ) Proceeds from sale of investments 1 1 1 — 3 Proceeds from dispositions — — 5 — 5 Other investing activities — — (1 ) — (1 ) Net cash flow provided by (used for) investing activities from continuing operations 1 (5 ) (122 ) — (126 ) Net cash flow used for investing activities from discontinued operations — — (23 ) — (23 ) Net cash flow provided by (used for) investing activities 1 (5 ) (145 ) — (149 ) Financing Activities: Repayments of short-term debt borrowings, net (94 ) — — — (94 ) Repayment of notes (99 ) — — — (99 ) Payment of capital lease obligations — — (8 ) — (8 ) Dividends (145 ) — — — (145 ) Purchase of Company common stock (2,468 ) — — — (2,468 ) Payment of payroll taxes in lieu of issuing shares for stock-based compensation (145 ) — — — (145 ) Proceeds from exercise of stock options 192 — — — 192 Excess tax benefit from stock-based compensation 204 — — — 204 Increase (decrease) in intercompany payables 2,852 171 (3,023 ) — — Net cash flow provided by (used for) financing activities from continuing operations 297 171 (3,031 ) — (2,563 ) Net cash flow provided by financing activities from discontinued operations — — 2,175 — 2,175 Net cash flow provided by (used for) financing activities 297 171 (856 ) — (388 ) Net (decrease) increase in cash and cash equivalents (36 ) — 123 — 87 Cash and cash equivalents at beginning of period (includes $29 of discontinued operations cash) 80 1 316 — 397 Cash and cash equivalents at end of period (includes $223 of discontinued operations cash) $ 44 $ 1 $ 439 $ — $ 484

Basis of Presentation and Sum22

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Use of Estimates	Use of Estimates -The preparation of the Company’s financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amount of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.
Earnings Per Share	Net Earnings per Common Share -Basic net earnings per share (“EPS”) is based upon net earnings divided by the weighted average number of common shares outstanding during the period. Diluted EPS reflects the effect of the assumed exercise of stock options and vesting of restricted stock units (“RSUs”) and market-based performance share units (“PSUs”) only in the periods in which such effect would have been dilutive.

Basis of Presentation and Sum23

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reconciliation from Basic to Diluted Shares	The table below presents a reconciliation of weighted average shares used in the calculation of basic and diluted EPS. Three Months Ended Six Months Ended June 30, June 30, (in millions) 2015 2014 2015 2014 Weighted average shares for basic EPS 490 570 494 578 Dilutive effect of shares issuable under stock-based compensation plans 5 11 6 12 Weighted average shares for diluted EPS 495 581 500 590

Stock-based Compensation (Table

Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based Compensation	The following table summarizes the Company’s stock-based compensation expense for the three and six months ended June 30, 2015 and 2014 . Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 RSUs and PSUs $ 35 $ 35 $ 73 $ 69 Stock options and equivalents 8 9 16 15 Stock-based compensation expense, before income taxes 43 44 89 84 Related tax benefit (16 ) (17 ) (34 ) (33 ) Stock-based compensation expense, net of tax benefit $ 27 $ 27 $ 55 $ 51

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
	Jun. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	The following table sets forth details of the net earnings from discontinued operations. Three Months Ended Six Months Ended June 30, 2014 June 30, 2014 Revenues from discontinued operations $ 334 $ 622 Earnings from discontinued operations $ 40 $ 54 Income tax provision (14 ) (22 ) Net earnings from discontinued operations, net of tax 26 32 Less: Net earnings from discontinued operations attributable to noncontrolling interest, net of tax 5 5 Net earnings from discontinued operations attributable to CBS Corp. $ 21 $ 27

Programming and Other Invento26

Programming and Other Inventory (Tables)	6 Months Ended
	Jun. 30, 2015
Inventory Disclosure [Abstract]
Noncurrent Programming and Other Inventory	At At June 30, 2015 December 31, 2014 Program rights $ 1,632 $ 1,471 Television programming: Released (including acquired libraries) 1,051 983 In process and other 153 179 Theatrical programming: Released 27 23 In process and other 46 36 Publishing, primarily finished goods 52 47 Total programming and other inventory 2,961 2,739 Less current portion 1,156 922 Total noncurrent programming and other inventory $ 1,805 $ 1,817
Current Programming and Other Inventory	At At June 30, 2015 December 31, 2014 Program rights $ 1,632 $ 1,471 Television programming: Released (including acquired libraries) 1,051 983 In process and other 153 179 Theatrical programming: Released 27 23 In process and other 46 36 Publishing, primarily finished goods 52 47 Total programming and other inventory 2,961 2,739 Less current portion 1,156 922 Total noncurrent programming and other inventory $ 1,805 $ 1,817

Related Parties (Tables)

Related Parties (Tables)	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Amounts due from Viacom Inc.	The following table presents the amounts due from Viacom Inc. in the normal course of business as reflected on the Company’s Consolidated Balance Sheets. Amounts due to Viacom Inc. were minimal at June 30, 2015 and December 31, 2014 . At At June 30, 2015 December 31, 2014 Receivables $ 86 $ 107 Other assets (Receivables, noncurrent) 76 76 Total amounts due from Viacom Inc . $ 162 $ 183

Bank Financing and Debt (Tables

Bank Financing and Debt (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Schedule of Debt	The following table sets forth the Company’s debt. At At June 30, 2015 December 31, 2014 Commercial paper $ 394 $ 616 Senior debt (1.95% - 7.875% due 2016 - 2045) (a) 7,615 6,433 Obligations under capital leases 91 97 Total debt 8,100 7,146 Less commercial paper 394 616 Less current portion of long-term debt 20 20 Total long-term debt, net of current portion $ 7,686 $ 6,510 (a) At June 30, 2015 and December 31, 2014 , the senior debt balances included (i) a net unamortized discount of $33 million and $21 million , respectively, and (ii) an increase in the carrying value of the debt relating to previously settled fair value hedges of $5 million and $14 million , respectively. At June 30, 2015 , the senior debt balances also included an increase in the carrying value of the debt relating to outstanding fair value hedges of $3 million . Such amount was minimal at December 31, 2014 . The face value of the Company’s senior debt was $7.64 billion and $6.44 billion at June 30, 2015 and December 31, 2014 , respectively.

Pension and Other Postretirem29

Pension and Other Postretirement Benefits (Tables)	6 Months Ended
	Jun. 30, 2015
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]
Pension and Other Postretirement Benefits	The components of net periodic cost for the Company’s pension and postretirement benefit plans were as follows: Pension Benefits Postretirement Benefits Three Months Ended June 30, 2015 2014 2015 2014 Components of net periodic cost: Service cost $ 8 $ 8 $ — $ — Interest cost 53 59 4 6 Expected return on plan assets (66 ) (66 ) — — Amortization of actuarial loss (gain) (a) 20 16 (5 ) (5 ) Net periodic cost $ 15 $ 17 $ (1 ) $ 1 Pension Benefits Postretirement Benefits Six Months Ended June 30, 2015 2014 2015 2014 Components of net periodic cost: Service cost $ 16 $ 16 $ — $ — Interest cost 105 118 9 12 Expected return on plan assets (131 ) (132 ) — — Amortization of actuarial loss (gain) (a) 40 32 (10 ) (10 ) Net periodic cost $ 30 $ 34 $ (1 ) $ 2 (a) Reflects amounts reclassified from accumulated other comprehensive income (loss) to net earnings.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2015
Stockholders' Equity Note [Abstract]
Changes in Components of Accumulated Other Comprehensive Income (Loss)	The following tables summarize the changes in the components of accumulated other comprehensive income (loss). Cumulative Translation Adjustments Net Actuarial Gain (Loss) and Prior Service Cost Change in Fair Value of Cash Flow Hedges Accumulated Other Comprehensive Loss At December 31, 2014 $ 158 $ (892 ) $ (1 ) $ (735 ) Other comprehensive income (loss) before reclassifications (2 ) — (1 ) (3 ) Reclassifications to net earnings — 18 (a) 2 (b) 20 Net other comprehensive income (loss) (2 ) 18 1 17 At June 30, 2015 $ 156 $ (874 ) $ — $ (718 ) Continuing Operations Discontinued Operations Cumulative Translation Adjustments Net Actuarial Gain (Loss) and Prior Service Cost Unrealized Gain on Securities Other Comprehensive Income (Loss) Accumulated Other Comprehensive Loss At December 31, 2013 $ 166 $ (729 ) $ 3 $ 15 $ (545 ) Other comprehensive income (loss) before reclassifications (7 ) — — 15 8 Reclassifications to net earnings — 14 (a) — — 14 Net other comprehensive income (loss) (7 ) 14 — 15 22 At June 30, 2014 $ 159 $ (715 ) $ 3 $ 30 $ (523 ) (a) Reflects amortization of net actuarial losses. See Note 7 . (b) Reflects loss recognized on designated foreign exchange contracts. See Note 12 .

Restructuring Charges (Tables)

Restructuring Charges (Tables)	6 Months Ended
	Jun. 30, 2015
Restructuring Charges [Abstract]
Restructuring Reserve Rollforward	Balance at 2015 2015 Balance at December 31, 2014 Charges Settlements June 30, 2015 Entertainment $ 6 $ 12 $ (4 ) $ 14 Local Broadcasting 10 43 (11 ) 42 Corporate 2 — (1 ) 1 Total $ 18 $ 55 $ (16 ) $ 57 2014 2014 Balance at Charges Settlements December 31, 2014 Entertainment $ 8 $ (2 ) $ 6 Publishing 1 (1 ) — Local Broadcasting 14 (4 ) 10 Corporate 3 (1 ) 2 Total $ 26 $ (8 ) $ 18

Financial Instruments and Fai32

Financial Instruments and Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Financial Instruments	Gains (losses) recognized on derivative financial instruments were as follows: Three Months Ended June 30, 2015 2014 Financial Statement Account Non-designated foreign exchange contracts $ (7 ) $ (2 ) Other items, net Designated interest rate swaps $ 3 $ — Interest expense Six Months Ended June 30, 2015 2014 Financial Statement Account Foreign exchange contracts: Designated hedging instruments: Recognized in OCI $ (1 ) $ (1 ) Change in fair value of cash flow hedges Reclassified from accumulated OCI $ (2 ) $ (1 ) Programming costs Non-designated hedging instruments $ 6 $ (2 ) Other items, net Designated interest rate swaps $ 5 $ — Interest expense
Fair Value Measurements	At June 30, 2015 Level 1 Level 2 Level 3 Total Assets: Investments $ 77 $ — $ — $ 77 Interest rate swaps — 3 — 3 Foreign exchange contracts — 8 — 8 Total Assets $ 77 $ 11 $ — $ 88 Liabilities: Deferred compensation $ — $ 314 $ — $ 314 Foreign exchange contracts — 3 — 3 Total Liabilities $ — $ 317 $ — $ 317 At December 31, 2014 Level 1 Level 2 Level 3 Total Assets: Investments $ 80 $ — $ — $ 80 Foreign exchange contracts — 6 — 6 Total Assets $ 80 $ 6 $ — $ 86 Liabilities: Deferred compensation $ — $ 307 $ — $ 307 Foreign exchange contracts — 2 — 2 Total Liabilities $ — $ 309 $ — $ 309

Reportable Segments (Tables)

Reportable Segments (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Revenues by Segment	Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Revenues: Entertainment $ 1,785 $ 1,835 $ 4,046 $ 4,138 Cable Networks 615 516 1,154 1,053 Publishing 199 211 344 364 Local Broadcasting 654 665 1,250 1,291 Corporate/Eliminations (34 ) (39 ) (75 ) (88 ) Total Revenues $ 3,219 $ 3,188 $ 6,719 $ 6,758
Intercompany Revenues by Segment	Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Intercompany Revenues: Entertainment $ 34 $ 39 $ 74 $ 85 Local Broadcasting 3 5 6 8 Total Intercompany Revenues $ 37 $ 44 $ 80 $ 93
Segment Operating Income (Loss) and Reconciliation to Net Earnings (Loss)	Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Segment Operating Income (Loss): Entertainment $ 262 $ 341 $ 608 $ 761 Cable Networks 220 213 471 467 Publishing 25 23 37 34 Local Broadcasting 198 215 359 394 Corporate (64 ) (62 ) (132 ) (135 ) Total Segment Operating Income 641 730 1,343 1,521 Restructuring charges (55 ) — (55 ) — Operating income 586 730 1,288 1,521 Interest expense (94 ) (94 ) (187 ) (187 ) Interest income 7 3 12 6 Other items, net 4 6 — 11 Earnings from continuing operations before income taxes and equity in loss of investee companies 503 645 1,113 1,351 Provision for income taxes (165 ) (217 ) (368 ) (451 ) Equity in loss of investee companies, net of tax (6 ) (10 ) (19 ) (20 ) Net earnings from continuing operations 332 418 726 880 Net earnings from discontinued operations, net of tax — 21 — 27 Net earnings $ 332 $ 439 $ 726 $ 907
Depreciation and Amortization by Segment	Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Depreciation and Amortization: Entertainment $ 32 $ 35 $ 64 $ 72 Cable Networks 6 6 12 11 Publishing 2 1 3 3 Local Broadcasting 19 23 40 44 Corporate 7 6 15 12 Total Depreciation and Amortization $ 66 $ 71 $ 134 $ 142
Stock-based Compensation by Segment	Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Stock-based Compensation: Entertainment $ 16 $ 15 $ 32 $ 29 Cable Networks 2 3 5 5 Publishing 1 1 2 2 Local Broadcasting 9 8 16 15 Corporate 15 17 34 33 Total Stock-based Compensation $ 43 $ 44 $ 89 $ 84
Capital Expenditures by Segment	Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 Capital Expenditures: Entertainment $ 13 $ 20 $ 21 $ 37 Cable Networks 2 3 3 5 Publishing 2 1 2 1 Local Broadcasting 11 12 18 20 Corporate 1 5 2 6 Total Capital Expenditures $ 29 $ 41 $ 46 $ 69
Assets by Segment	At At June 30, 2015 December 31, 2014 Assets: Entertainment $ 10,282 $ 10,469 Cable Networks 2,260 2,113 Publishing 937 990 Local Broadcasting 9,520 9,585 Corporate 633 876 Discontinued operations 30 39 Total Assets $ 23,662 $ 24,072

Condensed Consolidating Finan34

Condensed Consolidating Financial Statements (Tables)	6 Months Ended
	Jun. 30, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Statements of Operations	Statement of Operations For the Three Months Ended June 30, 2015 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Revenues $ 34 $ 3 $ 3,182 $ — $ 3,219 Expenses: Operating 14 2 1,891 — 1,907 Selling, general and administrative 12 55 538 — 605 Restructuring charges — — 55 — 55 Depreciation and amortization 2 5 59 — 66 Total expenses 28 62 2,543 — 2,633 Operating income (loss) 6 (59 ) 639 — 586 Interest (expense) income, net (118 ) (99 ) 130 — (87 ) Other items, net 1 (11 ) 14 — 4 Earnings (loss) before income taxes and equity in earnings (loss) of investee companies (111 ) (169 ) 783 — 503 Benefit (provision) for income taxes 36 55 (256 ) — (165 ) Equity in earnings (loss) of investee companies, net of tax 407 149 (6 ) (556 ) (6 ) Net earnings $ 332 $ 35 $ 521 $ (556 ) $ 332 Total comprehensive income $ 343 $ 34 $ 542 $ (576 ) $ 343 Statement of Operations For the Six Months Ended June 30, 2015 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Revenues $ 65 $ 6 $ 6,648 $ — $ 6,719 Expenses: Operating 30 3 4,016 — 4,049 Selling, general and administrative 24 116 1,053 — 1,193 Restructuring charges — — 55 — 55 Depreciation and amortization 3 10 121 — 134 Total expenses 57 129 5,245 — 5,431 Operating income (loss) 8 (123 ) 1,403 — 1,288 Interest (expense) income, net (233 ) (197 ) 255 — (175 ) Earnings (loss) before income taxes and equity in earnings (loss) of investee companies (225 ) (320 ) 1,658 — 1,113 Benefit (provision) for income taxes 73 104 (545 ) — (368 ) Equity in earnings (loss) of investee companies, net of tax 878 464 (19 ) (1,342 ) (19 ) Net earnings $ 726 $ 248 $ 1,094 $ (1,342 ) $ 726 Total comprehensive income $ 743 $ 247 $ 1,115 $ (1,362 ) $ 743 Statement of Operations For the Three Months Ended June 30, 2014 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Revenues $ 35 $ 3 $ 3,150 $ — $ 3,188 Expenses: Operating 15 2 1,781 — 1,798 Selling, general and administrative 17 50 522 — 589 Depreciation and amortization 2 3 66 — 71 Total expenses 34 55 2,369 — 2,458 Operating income (loss) 1 (52 ) 781 — 730 Interest (expense) income, net (115 ) (95 ) 119 — (91 ) Other items, net 1 (2 ) 7 — 6 Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of investee companies (113 ) (149 ) 907 — 645 Benefit (provision) for income taxes 39 51 (307 ) — (217 ) Equity in earnings (loss) of investee companies, net of tax 513 292 (10 ) (805 ) (10 ) Net earnings from continuing operations 439 194 590 (805 ) 418 Net earnings from discontinued operations, net of tax — — 21 — 21 Net earnings $ 439 $ 194 $ 611 $ (805 ) $ 439 Total comprehensive income $ 459 $ 191 $ 609 $ (800 ) $ 459 Statement of Operations For the Six Months Ended June 30, 2014 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Revenues $ 68 $ 6 $ 6,684 $ — $ 6,758 Expenses: Operating 31 3 3,885 — 3,919 Selling, general and administrative 32 114 1,030 — 1,176 Depreciation and amortization 3 7 132 — 142 Total expenses 66 124 5,047 — 5,237 Operating income (loss) 2 (118 ) 1,637 — 1,521 Interest (expense) income, net (229 ) (188 ) 236 — (181 ) Other items, net 1 (2 ) 12 — 11 Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of investee companies (226 ) (308 ) 1,885 — 1,351 Benefit (provision) for income taxes 77 105 (633 ) — (451 ) Equity in earnings (loss) of investee companies, net of tax 1,056 664 (20 ) (1,720 ) (20 ) Net earnings from continuing operations 907 461 1,232 (1,720 ) 880 Net earnings (loss) from discontinued operations, net of tax — (1 ) 28 — 27 Net earnings $ 907 $ 460 $ 1,260 $ (1,720 ) $ 907 Total comprehensive income $ 929 $ 456 $ 1,255 $ (1,711 ) $ 929
Condensed Consolidating Balance Sheets	Balance Sheet At June 30, 2015 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Assets Cash and cash equivalents $ 27 $ 1 $ 292 $ — $ 320 Receivables, net 24 2 3,098 — 3,124 Programming and other inventory 3 2 1,151 — 1,156 Prepaid expenses and other current assets 185 32 442 (27 ) 632 Total current assets 239 37 4,983 (27 ) 5,232 Property and equipment 51 163 2,976 — 3,190 Less accumulated depreciation and amortization 25 108 1,681 — 1,814 Net property and equipment 26 55 1,295 — 1,376 Programming and other inventory 6 7 1,792 — 1,805 Goodwill 98 62 6,503 — 6,663 Intangible assets — — 5,997 — 5,997 Investments in consolidated subsidiaries 42,042 12,149 — (54,191 ) — Other assets 213 12 2,364 — 2,589 Intercompany — 2,450 22,896 (25,346 ) — Total Assets $ 42,624 $ 14,772 $ 45,830 $ (79,564 ) $ 23,662 Liabilities and Stockholders’ Equity Accounts payable $ 2 $ 19 $ 177 $ — $ 198 Participants’ share and royalties payable — — 975 — 975 Program rights 4 2 400 — 406 Commercial paper 394 — — — 394 Current portion of long-term debt 4 — 16 — 20 Accrued expenses and other current liabilities 403 210 888 (27 ) 1,474 Total current liabilities 807 231 2,456 (27 ) 3,467 Long-term debt 7,565 — 121 — 7,686 Other liabilities 2,943 245 3,358 — 6,546 Intercompany 25,346 — — (25,346 ) — Stockholders’ Equity: Preferred stock — — 126 (126 ) — Common stock 1 123 590 (713 ) 1 Additional paid-in capital 44,090 — 60,894 (60,894 ) 44,090 Retained earnings (deficit) (21,205 ) 14,508 (17,017 ) 2,509 (21,205 ) Accumulated other comprehensive income (loss) (718 ) (4 ) 102 (98 ) (718 ) 22,168 14,627 44,695 (59,322 ) 22,168 Less treasury stock, at cost 16,205 331 4,800 (5,131 ) 16,205 Total Stockholders’ Equity 5,963 14,296 39,895 (54,191 ) 5,963 Total Liabilities and Stockholders’ Equity $ 42,624 $ 14,772 $ 45,830 $ (79,564 ) $ 23,662 Balance Sheet At December 31, 2014 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Assets Cash and cash equivalents $ 63 $ 1 $ 364 $ — $ 428 Receivables, net 29 2 3,428 — 3,459 Programming and other inventory 4 3 915 — 922 Prepaid expenses and other current assets 306 27 477 (30 ) 780 Total current assets 402 33 5,184 (30 ) 5,589 Property and equipment 41 162 2,961 — 3,164 Less accumulated depreciation and amortization 15 98 1,618 — 1,731 Net property and equipment 26 64 1,343 — 1,433 Programming and other inventory 7 8 1,802 — 1,817 Goodwill 98 62 6,538 — 6,698 Intangible assets — — 6,008 — 6,008 Investments in consolidated subsidiaries 41,144 11,685 — (52,829 ) — Other assets 219 17 2,291 — 2,527 Intercompany — 2,726 21,772 (24,498 ) — Total Assets $ 41,896 $ 14,595 $ 44,938 $ (77,357 ) $ 24,072 Liabilities and Stockholders ’ Equity Accounts payable $ 3 $ 24 $ 275 $ — $ 302 Participants’ share and royalties payable — — 999 — 999 Program rights 5 3 396 — 404 Commercial paper 616 — — — 616 Current portion of long-term debt 4 — 16 — 20 Accrued expenses and other current liabilities 388 270 1,064 (30 ) 1,692 Total current liabilities 1,016 297 2,750 (30 ) 4,033 Long-term debt 6,383 — 127 — 6,510 Other liabilities 3,029 249 3,281 — 6,559 Intercompany 24,498 — — (24,498 ) — Stockholders’ Equity: Preferred stock — — 126 (126 ) — Common stock 1 123 590 (713 ) 1 Additional paid-in capital 44,041 — 60,894 (60,894 ) 44,041 Retained earnings (deficit) (21,931 ) 14,260 (18,111 ) 3,851 (21,931 ) Accumulated other comprehensive income (loss) (735 ) (3 ) 81 (78 ) (735 ) 21,376 14,380 43,580 (57,960 ) 21,376 Less treasury stock, at cost 14,406 331 4,800 (5,131 ) 14,406 Total Stockholders’ Equity 6,970 14,049 38,780 (52,829 ) 6,970 Total Liabilities and Stockholders’ Equity $ 41,896 $ 14,595 $ 44,938 $ (77,357 ) $ 24,072
Condensed Consolidating Statements of Cash Flows	Statement of Cash Flows For the Six Months Ended June 30, 2015 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Net cash flow (used for) provided by operating activities $ (301 ) $ (150 ) $ 1,314 $ — $ 863 Investing Activities: Capital expenditures — (2 ) (44 ) — (46 ) Investments in and advances to investee companies — — (55 ) — (55 ) Proceeds from dispositions — — 59 — 59 Other investing activities 4 — (1 ) — 3 Net cash flow provided by (used for) investing activities from continuing operations 4 (2 ) (41 ) — (39 ) Net cash flow used for investing activities from discontinued operations (3 ) — — — (3 ) Net cash flow provided by (used for) investing activities 1 (2 ) (41 ) — (42 ) Financing Activities: Repayments of short-term debt borrowings, net (222 ) — — — (222 ) Proceeds from issuance of notes, net 1,178 — — — 1,178 Payment of capital lease obligations — — (8 ) — (8 ) Dividends (155 ) — — — (155 ) Purchase of Company common stock (1,832 ) — — — (1,832 ) Payment of payroll taxes in lieu of issuing shares for stock-based compensation (95 ) — — — (95 ) Proceeds from exercise of stock options 123 — — — 123 Excess tax benefit from stock-based compensation 82 — — — 82 Increase (decrease) in intercompany payables 1,185 152 (1,337 ) — — Net cash flow provided by (used for) financing activities 264 152 (1,345 ) — (929 ) Net decrease in cash and cash equivalents (36 ) — (72 ) — (108 ) Cash and cash equivalents at beginning of period 63 1 364 — 428 Cash and cash equivalents at end of period $ 27 $ 1 $ 292 $ — $ 320 Statement of Cash Flows For the Six Months Ended June 30, 2014 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Net cash flow (used for) provided by operating activities $ (334 ) $ (166 ) $ 1,124 $ — $ 624 Investing Activities: Capital expenditures — (6 ) (63 ) — (69 ) Investments in and advances to investee companies — — (64 ) — (64 ) Proceeds from sale of investments 1 1 1 — 3 Proceeds from dispositions — — 5 — 5 Other investing activities — — (1 ) — (1 ) Net cash flow provided by (used for) investing activities from continuing operations 1 (5 ) (122 ) — (126 ) Net cash flow used for investing activities from discontinued operations — — (23 ) — (23 ) Net cash flow provided by (used for) investing activities 1 (5 ) (145 ) — (149 ) Financing Activities: Repayments of short-term debt borrowings, net (94 ) — — — (94 ) Repayment of notes (99 ) — — — (99 ) Payment of capital lease obligations — — (8 ) — (8 ) Dividends (145 ) — — — (145 ) Purchase of Company common stock (2,468 ) — — — (2,468 ) Payment of payroll taxes in lieu of issuing shares for stock-based compensation (145 ) — — — (145 ) Proceeds from exercise of stock options 192 — — — 192 Excess tax benefit from stock-based compensation 204 — — — 204 Increase (decrease) in intercompany payables 2,852 171 (3,023 ) — — Net cash flow provided by (used for) financing activities from continuing operations 297 171 (3,031 ) — (2,563 ) Net cash flow provided by financing activities from discontinued operations — — 2,175 — 2,175 Net cash flow provided by (used for) financing activities 297 171 (856 ) — (388 ) Net (decrease) increase in cash and cash equivalents (36 ) — 123 — 87 Cash and cash equivalents at beginning of period (includes $29 of discontinued operations cash) 80 1 316 — 397 Cash and cash equivalents at end of period (includes $223 of discontinued operations cash) $ 44 $ 1 $ 439 $ — $ 484

Basis of Presentation and Sum35

Basis of Presentation and Summary of Significant Accounting Policies (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	4	2	4	2
Earnings Per Share [Abstract]
Weighted average shares for basic EPS	490	570	494	578
Dilutive effect of shares issuable under stock-based compensation plans	5	11	6	12
Weighted average shares for diluted EPS	495	581	500	590
Dividends recorded on common stock	$ 75		$ 150	$ 139

Stock-based Compensation (Detai

Stock-based Compensation (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation [Abstract]
RSUs and PSUs	$ 35	$ 35	$ 73	$ 69
Stock options and equivalents	8	9	16	15
Stock-based compensation expense, before income taxes	43	44	89	84
Related tax benefit	(16)	(17)	(34)	(33)
Stock-based compensation expense, net of tax	27	$ 27	$ 55	$ 51
Number of RSUs granted during the period			3
Weighted average grant date fair value - RSUs			$ 59.18
Number of stock options granted during the period			2
Weighted average per unit exercise price - options			$ 59.60
Unrecognized future expense of RSUs	271		$ 271
Unrecognized future expense of stock options	$ 66		$ 66
Term until expiration - options			8 years
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period over which grants vest			4 years
Weighted average period to expense unrecognized stock-based compensation expense			2 years 9 months 18 days
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average period to expense unrecognized stock-based compensation expense			2 years 7 months 6 days
Restricted Stock Units (RSUs) [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout on stock-based compensation award (percent)			120.00%
Service period over which grants vest			4 years
Restricted Stock Units (RSUs) [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout on stock-based compensation award (percent)			0.00%
Service period over which grants vest			1 year

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($)	Apr. 02, 2014	Apr. 02, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Jul. 16, 2014	Dec. 31, 2014	Jan. 31, 2014
Number of Shares of CBS Outdoor Americas Inc. common stock offered in IPO	23,000,000
Percentage of CBS Outdoor Americas offered in IPO	19.00%	19.00%
Percentage of CBS Outdoor Americas Inc owned by CBS	81.00%						0.00%
Per share IPO price of CBS Outdoor Americas	$ 28	$ 28
Aggregate proceeds from IPO, net of underwriting discounts and commissions		$ 615,000,000
Cash received from IPO and debt borrowings from Outdoor Americas								$ 2,040,000,000
Shares of CBS Class B common stock received in split-off transaction							44,700,000
Shares of CBS Outdoor Americas Inc common stock owned by CBS	97,000,000	97,000,000					0
Discontinued operations income statement disclosures [Abstract]
Revenues from discontinued operations				$ 334,000,000		$ 622,000,000
Earnings (loss) from discontinued operations				40,000,000		54,000,000
Income tax benefit (provision), discontinued operations				(14,000,000)		(22,000,000)
Net earnings (loss) from discontinued operations, net of tax				26,000,000		32,000,000
Net earnings from discontinued operations attributable to noncontrolling interest, net of tax				5,000,000		5,000,000
Net earnings from discontinued operations attributable to CBS Corp.			$ 0	$ 21,000,000	$ 0	$ 27,000,000
Discontinued operations balance sheet disclosures [Abstract]
Other liabilities, discontinued operations			88,000,000		88,000,000			118,000,000
Discontinued Operations [Member]
Carrying value of guarantee liability			$ 28,000,000		$ 28,000,000			$ 28,000,000
Face value of debt									$ 1,600,000,000

Programming and Other Invento38

Programming and Other Inventory (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Inventory Disclosure [Abstract]
Program rights	$ 1,632	$ 1,471
Television programming:
Released (including acquired libraries)	1,051	983
In process and other	153	179
Theatrical programming:
Released	27	23
In process and other	46	36
Publishing, primarily finished goods	52	47
Total programming and other inventory	2,961	2,739
Less current portion	1,156	922
Total noncurrent programming and other inventory	$ 1,805	$ 1,817

Related Parties (Details)

Related Parties (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
National Amusements Inc. [Member]
Related Party Transaction [Line Items]
NAI ownership of CBS Corp. Class A Common Stock (percentage)	79.60%		79.60%
NAI ownership of CBS Corp. Class A and Class B Common Stock on a combined basis (percentage)	8.10%		8.10%
Viacom Inc. [Member]
Related Party Transaction [Line Items]
Revenues from transactions with related party	$ 54	$ 48	$ 100	$ 83
Expenses from transactions with related party	5	3	11	8
Receivables from Viacom Inc., current	86		86		$ 107
Other assets (Receivables, noncurrent) from Viacom Inc.	76		76		76
Total amounts due from Viacom Inc.	162		162		$ 183
Domestic and International Television Joint Ventures [Member]
Related Party Transaction [Line Items]
Revenues from transactions with related party	$ 23	$ 26	$ 71	$ 63

Bank Financing and Debt (Detail

Bank Financing and Debt (Details) - USD ($)	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Debt Disclosure [Abstract]
Commercial paper	$ 394,000,000	$ 616,000,000
Senior debt (1.95% - 7.875% due 2016 - 2045) (a)	7,615,000,000	6,433,000,000
Obligations under capital leases	91,000,000	97,000,000
Current portion of long-term debt	20,000,000	20,000,000
Total long-term debt, net of current portion	7,686,000,000	6,510,000,000
Total debt	8,100,000,000	7,146,000,000
Net unamortized discount on senior debt	33,000,000	21,000,000
Increase in carrying value of debt relating to previously settled fair value hedges	5,000,000	$ 14,000,000
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity line under credit facility	2,500,000,000
Availability under credit facility	2,490,000,000
Amount borrowed under credit facility	$ 0
Revolving Credit Facility [Member] | Maximum Consolidated Leverage Ratio [Member]
Line of Credit Facility [Line Items]
Credit facility covenant description	4.5x
Revolving Credit Facility [Member] | Consolidated Leverage Ratio [Member]
Line of Credit Facility [Line Items]
Credit facility covenant compliance	2.5x
Commercial Paper [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity line under credit facility	$ 2,500,000,000
Weighted average interest rate	0.47%	0.46%

Bank Financing and Debt Additio

Bank Financing and Debt Additional Disclosures (Details) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jul. 31, 2015	Jan. 31, 2015	Dec. 31, 2014
Debt Instruments [Line Items]
Commercial paper	$ 394,000,000			$ 616,000,000
Increase in carrying value of debt relating to outstanding fair value hedges	3,000,000
Short-term debt classified as long-term debt reflecting Company's intent and ability to refinance	$ 200,000,000
Senior Notes [Member]
Debt Instruments [Line Items]
Minimum stated interest rate of senior debt	1.95%
Maximum stated interest rate of senior debt	7.875%
Face value of debt	$ 7,640,000,000			$ 6,440,000,000
Senior Notes [Member] | Senior Notes Due 2025 [Member]
Debt Instruments [Line Items]
Stated interest rate			3.50%
Face value of debt			$ 600,000,000
Senior Notes [Member] | Senior Notes Due 2045 [Member]
Debt Instruments [Line Items]
Stated interest rate			4.60%
Face value of debt			$ 600,000,000
Senior Notes [Member] | Senior Notes Due 2026 [Member] | Subsequent Event [Member]
Debt Instruments [Line Items]
Stated interest rate		4.00%
Face value of debt		$ 800,000,000

Pension and Other Postretirem42

Pension and Other Postretirement Benefits (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Pension Benefits [Member]
Components Of Net Periodic Cost Details [Abstract]
Service cost	$ 8,000,000	$ 8,000,000	$ 16,000,000	$ 16,000,000
Interest cost	53,000,000	59,000,000	105,000,000	118,000,000
Expected return on plan assets	(66,000,000)	(66,000,000)	(131,000,000)	(132,000,000)
Amortization of actuarial loss (gain)	20,000,000	16,000,000	40,000,000	32,000,000
Net periodic cost	15,000,000	17,000,000	30,000,000	34,000,000
Postretirement Benefit [Member]
Components Of Net Periodic Cost Details [Abstract]
Service cost	0	0	0	0
Interest cost	4,000,000	6,000,000	9,000,000	12,000,000
Expected return on plan assets	0	0	0	0
Amortization of actuarial loss (gain)	(5,000,000)	(5,000,000)	(10,000,000)	(10,000,000)
Net periodic cost	$ (1,000,000)	$ 1,000,000	$ (1,000,000)	$ 2,000,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Stockholders' Equity Note [Abstract]
Class B common stock repurchased under repurchase program (shares)	13.2		30.5
Value of shares repurchased	$ 799		$ 1,800
Average per share price repurchased (in dollars per share)	$ 60.38		$ 59.07
Remaining authorization under share repurchase program	$ 3,000		$ 3,000
Dividends [Abstract]
Dividends per common share (in dollars per share)	$ 0.15	$ 0.12	$ 0.30	$ 0.24
Dividends recorded on common stock	$ 75		$ 150	$ 139
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	(718)	$ (523)	(718)	(523)	$ (735)	$ (545)
Other comprehensive income (loss) before reclassifications			(3)	8
Reclassifications to net earnings			20	14
Net other comprehensive income (loss)	11	20	17	22
Tax provision on net actuarial gain (loss) and prior service costs related to pension and other postretirement benefit plans			12	8
Cumulative Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	156		156		158
Other comprehensive income (loss) before reclassifications			(2)
Reclassifications to net earnings			0
Net other comprehensive income (loss)			(2)
Net Actuarial Gain (Loss) and Prior Service Cost [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	(874)		(874)		(892)
Other comprehensive income (loss) before reclassifications			0
Reclassifications to net earnings			18
Net other comprehensive income (loss)			18
Change in Fair Value of Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	0		0		$ (1)
Other comprehensive income (loss) before reclassifications			(1)
Reclassifications to net earnings			2
Net other comprehensive income (loss)			1
Continuing Operations [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net other comprehensive income (loss)	11	6	17	7
Continuing Operations [Member] | Cumulative Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)		159		159		166
Other comprehensive income (loss) before reclassifications				(7)
Reclassifications to net earnings				0
Net other comprehensive income (loss)				(7)
Continuing Operations [Member] | Net Actuarial Gain (Loss) and Prior Service Cost [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)		(715)		(715)		(729)
Other comprehensive income (loss) before reclassifications				0
Reclassifications to net earnings				14
Net other comprehensive income (loss)				14
Continuing Operations [Member] | Unrealized Gain (Loss) on Securities [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)		3		3		3
Other comprehensive income (loss) before reclassifications				0
Reclassifications to net earnings				0
Net other comprehensive income (loss)				0
Discontinued Operations [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)		30		30		$ 15
Other comprehensive income (loss) before reclassifications	$ 0	$ 14	$ 0	15
Reclassifications to net earnings				0
Net other comprehensive income (loss)				$ 15

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 165	$ 217	$ 368	$ 451
Effective tax rate	32.80%	33.60%	33.10%	33.40%
Decrease to reserve for uncertain tax positions	$ 14
Expected decrease to reserve for uncertain tax positions	$ 14		$ 14

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2015USD ($)claims	Dec. 31, 2014USD ($)claims	Dec. 31, 2013USD ($)	Jun. 30, 2014claims
Loss Contingencies [Line Items]
Outstanding letters of credit and surety bonds	$ 196
Costs for settlement and defense of asbestos claims, net of insurance recoveries and tax benefits		$ 11	$ 29
Discontinued Operations [Member]
Loss Contingencies [Line Items]
Exposure under guarantee	136
Carrying value of guarantee liability	$ 28	$ 28
Asbestos Claims [Member]
Loss Contingencies [Line Items]
Number of pending asbestos claims | claims	38,000	41,100		43,730
Number of new asbestos claims | claims	1,020
Number of asbestos claims closed or moved to inactive docket | claims	3,110

Restructuring Charges (Details)

Restructuring Charges (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended	18 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Jun. 30, 2015
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			$ 18
Restructuring charges	$ 55	$ 0	55	$ 0	$ 26
Restructuring settlements			(16)		(8)	$ (24)
Restructuring reserve, ending balance	57		57		18	57
Employee severance [Member]
Restructuring Reserve [Roll Forward]
Restructuring charges	34				17
Restructuring settlements						(17)
Contract termination [Member]
Restructuring Reserve [Roll Forward]
Restructuring charges	21				9
Restructuring settlements						(7)
Operating Segments [Member] | Entertainment Segment [Member]
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			6
Restructuring charges			12		8
Restructuring settlements			(4)		(2)
Restructuring reserve, ending balance	14		14		6	14
Operating Segments [Member] | Publishing Segment [Member]
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			0
Restructuring charges					1
Restructuring settlements					(1)
Restructuring reserve, ending balance					0
Operating Segments [Member] | Local Broadcasting Segment [Member]
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			10
Restructuring charges			43		14
Restructuring settlements			(11)		(4)
Restructuring reserve, ending balance	42		42		10	42
Corporate [Member]
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance			2
Restructuring charges			0		3
Restructuring settlements			(1)		(1)
Restructuring reserve, ending balance	$ 1		$ 1		$ 2	$ 1

Financial Instruments and Fai47

Financial Instruments and Fair Value Measurements (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Senior Debt [Line Items]
Carrying value of senior debt	$ 7,615	$ 6,433
Assets, Fair Value Disclosure [Abstract]
Investments	77	80
Interest rate swaps	3
Foreign exchange contracts	8	6
Total Assets	88	86
Liabilities, Fair Value Disclosure [Abstract]
Deferred compensation	314	307
Foreign exchange contracts	3	2
Total Liabilities	317	309
Senior Notes [Member]
Senior Debt [Line Items]
Fair value of senior debt	7,960	7,150
Level 1 [Member]
Assets, Fair Value Disclosure [Abstract]
Investments	77	80
Interest rate swaps	0
Foreign exchange contracts	0	0
Total Assets	77	80
Liabilities, Fair Value Disclosure [Abstract]
Deferred compensation	0	0
Foreign exchange contracts	0	0
Total Liabilities	0	0
Level 2 [Member]
Assets, Fair Value Disclosure [Abstract]
Investments	0	0
Interest rate swaps	3
Foreign exchange contracts	8	6
Total Assets	11	6
Liabilities, Fair Value Disclosure [Abstract]
Deferred compensation	314	307
Foreign exchange contracts	3	2
Total Liabilities	317	309
Level 3 [Member]
Assets, Fair Value Disclosure [Abstract]
Investments	0	0
Interest rate swaps	0
Foreign exchange contracts	0	0
Total Assets	0	0
Liabilities, Fair Value Disclosure [Abstract]
Deferred compensation	0	0
Foreign exchange contracts	0	0
Total Liabilities	$ 0	$ 0

Financial Instruments and Fai48

Financial Instruments and Fair Value Measurements Additional Disclosures (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Interest rate swaps [Member]
Derivatives [Line Items]
Notional amount of derivative	$ 600,000,000		$ 600,000,000
Gain (loss) on designated interest rate swaps	3,000,000	$ 0	5,000,000	$ 0
Foreign exchange contract [Member]
Derivatives [Line Items]
Notional amount of derivative	296,000,000		296,000,000		$ 152,000,000
Gain (loss) on designated foreign exchange contract recognized in OCI			(1,000,000)	(1,000,000)
Gain (loss) on designated foreign exchange contract reclassified from accumulated OCI			(2,000,000)	(1,000,000)
Gain (loss) on non-designated foreign exchange contract	$ (7,000,000)	$ (2,000,000)	$ 6,000,000	$ (2,000,000)
Senior Notes Due 2019 [Member]
Debt Instrument [Line Items]
Stated interest rate	2.30%		2.30%
Face value of debt	$ 600,000,000		$ 600,000,000

Reportable Segments (Details)

Reportable Segments (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Segment Reporting [Abstract]
Interest expense	$ (94,000,000)	$ (94,000,000)	$ (187,000,000)	$ (187,000,000)
Interest income	7,000,000	3,000,000	12,000,000	6,000,000
Other items, net	4,000,000	6,000,000	0	11,000,000
Earnings from continuing operations before income taxes and equity in earnings (loss) of investee companies	503,000,000	645,000,000	1,113,000,000	1,351,000,000
Provision for income taxes	(165,000,000)	(217,000,000)	(368,000,000)	(451,000,000)
Equity in loss of investee companies, net of tax	(6,000,000)	(10,000,000)	(19,000,000)	(20,000,000)
Net earnings from continuing operations	332,000,000	418,000,000	726,000,000	880,000,000
Net earnings (loss) from discontinued operations, net of tax	0	21,000,000	0	27,000,000
Net earnings (loss)	332,000,000	439,000,000	726,000,000	907,000,000
Reportable Segments [Line Items]
Revenues	3,219,000,000	3,188,000,000	6,719,000,000	6,758,000,000
Operating income (loss)	586,000,000	730,000,000	1,288,000,000	1,521,000,000
Depreciation and amortization	66,000,000	71,000,000	134,000,000	142,000,000
Stock-based compensation	43,000,000	44,000,000	89,000,000	84,000,000
Capital expenditures	29,000,000	41,000,000	46,000,000	69,000,000
Assets	23,662,000,000		23,662,000,000		$ 24,072,000,000
Restructuring charges	55,000,000	0	55,000,000	0	26,000,000
Operating Segments [Member]
Reportable Segments [Line Items]
Operating income (loss)	641,000,000	730,000,000	1,343,000,000	1,521,000,000
Operating Segments [Member] | Entertainment Segment [Member]
Reportable Segments [Line Items]
Revenues	1,785,000,000	1,835,000,000	4,046,000,000	4,138,000,000
Operating income (loss)	262,000,000	341,000,000	608,000,000	761,000,000
Depreciation and amortization	32,000,000	35,000,000	64,000,000	72,000,000
Stock-based compensation	16,000,000	15,000,000	32,000,000	29,000,000
Capital expenditures	13,000,000	20,000,000	21,000,000	37,000,000
Assets	10,282,000,000		10,282,000,000		10,469,000,000
Restructuring charges			12,000,000		8,000,000
Operating Segments [Member] | Cable Networks Segment [Member]
Reportable Segments [Line Items]
Revenues	615,000,000	516,000,000	1,154,000,000	1,053,000,000
Operating income (loss)	220,000,000	213,000,000	471,000,000	467,000,000
Depreciation and amortization	6,000,000	6,000,000	12,000,000	11,000,000
Stock-based compensation	2,000,000	3,000,000	5,000,000	5,000,000
Capital expenditures	2,000,000	3,000,000	3,000,000	5,000,000
Assets	2,260,000,000		2,260,000,000		2,113,000,000
Operating Segments [Member] | Publishing Segment [Member]
Reportable Segments [Line Items]
Revenues	199,000,000	211,000,000	344,000,000	364,000,000
Operating income (loss)	25,000,000	23,000,000	37,000,000	34,000,000
Depreciation and amortization	2,000,000	1,000,000	3,000,000	3,000,000
Stock-based compensation	1,000,000	1,000,000	2,000,000	2,000,000
Capital expenditures	2,000,000	1,000,000	2,000,000	1,000,000
Assets	937,000,000		937,000,000		990,000,000
Restructuring charges					1,000,000
Operating Segments [Member] | Local Broadcasting Segment [Member]
Reportable Segments [Line Items]
Revenues	654,000,000	665,000,000	1,250,000,000	1,291,000,000
Operating income (loss)	198,000,000	215,000,000	359,000,000	394,000,000
Depreciation and amortization	19,000,000	23,000,000	40,000,000	44,000,000
Stock-based compensation	9,000,000	8,000,000	16,000,000	15,000,000
Capital expenditures	11,000,000	12,000,000	18,000,000	20,000,000
Assets	9,520,000,000		9,520,000,000		9,585,000,000
Restructuring charges			43,000,000		14,000,000
Corporate [Member]
Reportable Segments [Line Items]
Operating income (loss)	(64,000,000)	(62,000,000)	(132,000,000)	(135,000,000)
Depreciation and amortization	7,000,000	6,000,000	15,000,000	12,000,000
Stock-based compensation	15,000,000	17,000,000	34,000,000	33,000,000
Capital expenditures	1,000,000	5,000,000	2,000,000	6,000,000
Assets	633,000,000		633,000,000		876,000,000
Restructuring charges			0		3,000,000
Corporate and Eliminations [Member]
Reportable Segments [Line Items]
Revenues	(34,000,000)	(39,000,000)	(75,000,000)	(88,000,000)
Intersegment Eliminations [Member]
Reportable Segments [Line Items]
Revenues	(37,000,000)	(44,000,000)	(80,000,000)	(93,000,000)
Intersegment Eliminations [Member] | Entertainment Segment [Member]
Reportable Segments [Line Items]
Revenues	(34,000,000)	(39,000,000)	(74,000,000)	(85,000,000)
Intersegment Eliminations [Member] | Local Broadcasting Segment [Member]
Reportable Segments [Line Items]
Revenues	(3,000,000)	(5,000,000)	(6,000,000)	(8,000,000)
Discontinued Operations [Member]
Reportable Segments [Line Items]
Assets	30,000,000		30,000,000		$ 39,000,000
Segment Reconciling Items [Member]
Reportable Segments [Line Items]
Restructuring charges	$ 55,000,000	$ 0	$ 55,000,000	$ 0

Condensed Consolidating Finan50

Condensed Consolidating Financial Statements (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Condensed Consolidating Statement Of Operations [Abstract]
Revenues	$ 3,219,000,000	$ 3,188,000,000	$ 6,719,000,000	$ 6,758,000,000
Expenses:
Operating	1,907,000,000	1,798,000,000	4,049,000,000	3,919,000,000
Selling, general and administrative	605,000,000	589,000,000	1,193,000,000	1,176,000,000
Restructuring charges	55,000,000	0	55,000,000	0	$ 26,000,000
Depreciation and amortization	66,000,000	71,000,000	134,000,000	142,000,000
Total expenses	2,633,000,000	2,458,000,000	5,431,000,000	5,237,000,000
Operating income (loss)	586,000,000	730,000,000	1,288,000,000	1,521,000,000
Interest (expense) income, net	(87,000,000)	(91,000,000)	(175,000,000)	(181,000,000)
Other items, net	4,000,000	6,000,000	0	11,000,000
Earnings from continuing operations before income taxes and equity in earnings (loss) of investee companies	503,000,000	645,000,000	1,113,000,000	1,351,000,000
Benefit (provision) for income taxes	(165,000,000)	(217,000,000)	(368,000,000)	(451,000,000)
Equity in earnings (loss) of investee companies, net of tax	(6,000,000)	(10,000,000)	(19,000,000)	(20,000,000)
Net earnings from continuing operations	332,000,000	418,000,000	726,000,000	880,000,000
Net earnings (loss) from discontinued operations, net of tax	0	21,000,000	0	27,000,000
Net earnings (loss)	332,000,000	439,000,000	726,000,000	907,000,000
Total comprehensive income	343,000,000	459,000,000	743,000,000	929,000,000
Assets [Abstract]
Cash and cash equivalents	320,000,000		320,000,000		428,000,000
Receivables, net	3,124,000,000		3,124,000,000		3,459,000,000
Programming and other inventory (Note 4)	1,156,000,000		1,156,000,000		922,000,000
Prepaid expenses and other current assets	632,000,000		632,000,000		780,000,000
Total current assets	5,232,000,000		5,232,000,000		5,589,000,000
Property and equipment	3,190,000,000		3,190,000,000		3,164,000,000
Less accumulated depreciation and amortization	1,814,000,000		1,814,000,000		1,731,000,000
Net property and equipment	1,376,000,000		1,376,000,000		1,433,000,000
Programming and other inventory (Note 4)	1,805,000,000		1,805,000,000		1,817,000,000
Goodwill	6,663,000,000		6,663,000,000		6,698,000,000
Intangible assets	5,997,000,000		5,997,000,000		6,008,000,000
Investments in consolidated subsidiaries	0		0		0
Other assets	2,589,000,000		2,589,000,000		2,527,000,000
Intercompany	0		0		0
Total Assets	23,662,000,000		23,662,000,000		24,072,000,000
Liabilities and Equity [Abstract]
Accounts payable	198,000,000		198,000,000		302,000,000
Participants' share and royalties payable	975,000,000		975,000,000		999,000,000
Program rights	406,000,000		406,000,000		404,000,000
Commercial paper	394,000,000		394,000,000		616,000,000
Current portion of long-term debt (Note 6)	20,000,000		20,000,000		20,000,000
Accrued expenses and other current liabilities	1,474,000,000		1,474,000,000		1,692,000,000
Total current liabilities	3,467,000,000		3,467,000,000		4,033,000,000
Long-term debt (Note 6)	7,686,000,000		7,686,000,000		6,510,000,000
Other liabilities	6,546,000,000		6,546,000,000		6,559,000,000
Intercompany	0		0		0
Stockholders' Equity [Abstract]
Preferred stock	0		0		0
Common stock	1,000,000		1,000,000		1,000,000
Additional paid-in capital	44,090,000,000		44,090,000,000		44,041,000,000
Retained earnings (deficit)	(21,205,000,000)		(21,205,000,000)		(21,931,000,000)
Accumulated other comprehensive loss (Note 8)	(718,000,000)	(523,000,000)	(718,000,000)	(523,000,000)	(735,000,000)	$ (545,000,000)
Stockholders' equity including treasury stock	22,168,000,000		22,168,000,000		21,376,000,000
Less treasury stock, at cost	16,205,000,000		16,205,000,000		14,406,000,000
Total Stockholders' Equity	5,963,000,000		5,963,000,000		6,970,000,000
Total Liabilities and Stockholders' Equity	23,662,000,000		23,662,000,000		24,072,000,000
Condensed Consolidating Statement Of Cash Flows [Abstract]
Net cash flow provided by (used for) operating activities			863,000,000	624,000,000
Investing Activities
Capital expenditures	(29,000,000)	(41,000,000)	(46,000,000)	(69,000,000)
Investments in and advances to investee companies			(55,000,000)	(64,000,000)
Proceeds from sale of investments			0	3,000,000
Proceeds from dispositions			59,000,000	5,000,000
Other investing activities			3,000,000	(1,000,000)
Net cash flow provided by (used for) investing activities from continuing operations			(39,000,000)	(126,000,000)
Net cash flow provided by (used for) investing activities from discontinued operations			(3,000,000)	(23,000,000)
Net cash flow provided by (used for) investing activities			(42,000,000)	(149,000,000)
Financing Activities
Repayments of short-term debt borrowings, net			(222,000,000)	(94,000,000)
Repayment of notes			0	(99,000,000)
Proceeds from issuance of notes, net			1,178,000,000	0
Payment of capital lease obligations			(8,000,000)	(8,000,000)
Dividends			(155,000,000)	(145,000,000)
Purchase of Company common stock			(1,832,000,000)	(2,468,000,000)
Payment of payroll taxes in lieu of issuing shares for stock-based compensation			(95,000,000)	(145,000,000)
Proceeds from exercise of stock options			123,000,000	192,000,000
Excess tax benefit from stock-based compensation			82,000,000	204,000,000
Increase (decrease) in intercompany payables			0	0
Net cash flow provided by (used for) financing activities from continuing operations			(929,000,000)	(2,563,000,000)
Net cash flow provided by (used for) financing activities from discontinued operations			0	2,175,000,000
Net cash flow provided by (used for) financing activities			(929,000,000)	(388,000,000)
Net increase (decrease) in cash and cash equivalents			(108,000,000)	87,000,000
Cash and cash equivalents, including discontinued operations, at beginning of period			428,000,000	397,000,000	397,000,000
Cash and cash equivalents, including discontinued operations, at end of period	320,000,000	484,000,000	320,000,000	484,000,000	428,000,000
Cash and cash equivalents of discontinued operations		223,000,000		223,000,000		$ 29,000,000
Eliminations [Member]
Condensed Consolidating Statement Of Operations [Abstract]
Revenues	0	0	0	0
Expenses:
Operating	0	0	0	0
Selling, general and administrative	0	0	0	0
Restructuring charges	0		0
Depreciation and amortization	0	0	0	0
Total expenses	0	0	0	0
Operating income (loss)	0	0	0	0
Interest (expense) income, net	0	0	0	0
Other items, net	0	0		0
Earnings from continuing operations before income taxes and equity in earnings (loss) of investee companies	0	0	0	0
Benefit (provision) for income taxes	0	0	0	0
Equity in earnings (loss) of investee companies, net of tax	(556,000,000)	(805,000,000)	(1,342,000,000)	(1,720,000,000)
Net earnings from continuing operations		(805,000,000)		(1,720,000,000)
Net earnings (loss) from discontinued operations, net of tax		0		0
Net earnings (loss)	(556,000,000)	(805,000,000)	(1,342,000,000)	(1,720,000,000)
Total comprehensive income	(576,000,000)	(800,000,000)	(1,362,000,000)	(1,711,000,000)
Assets [Abstract]
Cash and cash equivalents	0		0		0
Receivables, net	0		0		0
Programming and other inventory (Note 4)	0		0		0
Prepaid expenses and other current assets	(27,000,000)		(27,000,000)		(30,000,000)
Total current assets	(27,000,000)		(27,000,000)		(30,000,000)
Property and equipment	0		0		0
Less accumulated depreciation and amortization	0		0		0
Net property and equipment	0		0		0
Programming and other inventory (Note 4)	0		0		0
Goodwill	0		0		0
Intangible assets	0		0		0
Investments in consolidated subsidiaries	(54,191,000,000)		(54,191,000,000)		(52,829,000,000)
Other assets	0		0		0
Intercompany	(25,346,000,000)		(25,346,000,000)		(24,498,000,000)
Total Assets	(79,564,000,000)		(79,564,000,000)		(77,357,000,000)
Liabilities and Equity [Abstract]
Accounts payable	0		0		0
Participants' share and royalties payable	0		0		0
Program rights	0		0		0
Commercial paper	0		0		0
Current portion of long-term debt (Note 6)	0		0		0
Accrued expenses and other current liabilities	(27,000,000)		(27,000,000)		(30,000,000)
Total current liabilities	(27,000,000)		(27,000,000)		(30,000,000)
Long-term debt (Note 6)	0		0		0
Other liabilities	0		0		0
Intercompany	(25,346,000,000)		(25,346,000,000)		(24,498,000,000)
Stockholders' Equity [Abstract]
Preferred stock	(126,000,000)		(126,000,000)		(126,000,000)
Common stock	(713,000,000)		(713,000,000)		(713,000,000)
Additional paid-in capital	(60,894,000,000)		(60,894,000,000)		(60,894,000,000)
Retained earnings (deficit)	2,509,000,000		2,509,000,000		3,851,000,000
Accumulated other comprehensive loss (Note 8)	(98,000,000)		(98,000,000)		(78,000,000)
Stockholders' equity including treasury stock	(59,322,000,000)		(59,322,000,000)		(57,960,000,000)
Less treasury stock, at cost	(5,131,000,000)		(5,131,000,000)		(5,131,000,000)
Total Stockholders' Equity	(54,191,000,000)		(54,191,000,000)		(52,829,000,000)
Total Liabilities and Stockholders' Equity	(79,564,000,000)		(79,564,000,000)		(77,357,000,000)
Condensed Consolidating Statement Of Cash Flows [Abstract]
Net cash flow provided by (used for) operating activities			0	0
Investing Activities
Capital expenditures			0	0
Investments in and advances to investee companies			0	0
Proceeds from sale of investments				0
Proceeds from dispositions			0	0
Other investing activities			0	0
Net cash flow provided by (used for) investing activities from continuing operations			0	0
Net cash flow provided by (used for) investing activities from discontinued operations			0	0
Net cash flow provided by (used for) investing activities			0	0
Financing Activities
Repayments of short-term debt borrowings, net			0	0
Repayment of notes				0
Proceeds from issuance of notes, net			0
Payment of capital lease obligations			0	0
Dividends			0	0
Purchase of Company common stock			0	0
Payment of payroll taxes in lieu of issuing shares for stock-based compensation			0	0
Proceeds from exercise of stock options			0	0
Excess tax benefit from stock-based compensation			0	0
Increase (decrease) in intercompany payables			0	0
Net cash flow provided by (used for) financing activities from continuing operations			0	0
Net cash flow provided by (used for) financing activities from discontinued operations				0
Net cash flow provided by (used for) financing activities			0	0
Net increase (decrease) in cash and cash equivalents			0	0
Cash and cash equivalents, including discontinued operations, at beginning of period			0	0	0
Cash and cash equivalents, including discontinued operations, at end of period	0	0	0	0	0
CBS Corp. [Member]
Condensed Consolidating Statement Of Operations [Abstract]
Revenues	34,000,000	35,000,000	65,000,000	68,000,000
Expenses:
Operating	14,000,000	15,000,000	30,000,000	31,000,000
Selling, general and administrative	12,000,000	17,000,000	24,000,000	32,000,000
Restructuring charges	0		0
Depreciation and amortization	2,000,000	2,000,000	3,000,000	3,000,000
Total expenses	28,000,000	34,000,000	57,000,000	66,000,000
Operating income (loss)	6,000,000	1,000,000	8,000,000	2,000,000
Interest (expense) income, net	(118,000,000)	(115,000,000)	(233,000,000)	(229,000,000)
Other items, net	1,000,000	1,000,000		1,000,000
Earnings from continuing operations before income taxes and equity in earnings (loss) of investee companies	(111,000,000)	(113,000,000)	(225,000,000)	(226,000,000)
Benefit (provision) for income taxes	36,000,000	39,000,000	73,000,000	77,000,000
Equity in earnings (loss) of investee companies, net of tax	407,000,000	513,000,000	878,000,000	1,056,000,000
Net earnings from continuing operations		439,000,000		907,000,000
Net earnings (loss) from discontinued operations, net of tax		0		0
Net earnings (loss)	332,000,000	439,000,000	726,000,000	907,000,000
Total comprehensive income	343,000,000	459,000,000	743,000,000	929,000,000
Assets [Abstract]
Cash and cash equivalents	27,000,000		27,000,000		63,000,000
Receivables, net	24,000,000		24,000,000		29,000,000
Programming and other inventory (Note 4)	3,000,000		3,000,000		4,000,000
Prepaid expenses and other current assets	185,000,000		185,000,000		306,000,000
Total current assets	239,000,000		239,000,000		402,000,000
Property and equipment	51,000,000		51,000,000		41,000,000
Less accumulated depreciation and amortization	25,000,000		25,000,000		15,000,000
Net property and equipment	26,000,000		26,000,000		26,000,000
Programming and other inventory (Note 4)	6,000,000		6,000,000		7,000,000
Goodwill	98,000,000		98,000,000		98,000,000
Intangible assets	0		0		0
Investments in consolidated subsidiaries	42,042,000,000		42,042,000,000		41,144,000,000
Other assets	213,000,000		213,000,000		219,000,000
Intercompany	0		0		0
Total Assets	42,624,000,000		42,624,000,000		41,896,000,000
Liabilities and Equity [Abstract]
Accounts payable	2,000,000		2,000,000		3,000,000
Participants' share and royalties payable	0		0		0
Program rights	4,000,000		4,000,000		5,000,000
Commercial paper	394,000,000		394,000,000		616,000,000
Current portion of long-term debt (Note 6)	4,000,000		4,000,000		4,000,000
Accrued expenses and other current liabilities	403,000,000		403,000,000		388,000,000
Total current liabilities	807,000,000		807,000,000		1,016,000,000
Long-term debt (Note 6)	7,565,000,000		7,565,000,000		6,383,000,000
Other liabilities	2,943,000,000		2,943,000,000		3,029,000,000
Intercompany	25,346,000,000		25,346,000,000		24,498,000,000
Stockholders' Equity [Abstract]
Preferred stock	0		0		0
Common stock	1,000,000		1,000,000		1,000,000
Additional paid-in capital	44,090,000,000		44,090,000,000		44,041,000,000
Retained earnings (deficit)	(21,205,000,000)		(21,205,000,000)		(21,931,000,000)
Accumulated other comprehensive loss (Note 8)	(718,000,000)		(718,000,000)		(735,000,000)
Stockholders' equity including treasury stock	22,168,000,000		22,168,000,000		21,376,000,000
Less treasury stock, at cost	16,205,000,000		16,205,000,000		14,406,000,000
Total Stockholders' Equity	5,963,000,000		5,963,000,000		6,970,000,000
Total Liabilities and Stockholders' Equity	42,624,000,000		42,624,000,000		41,896,000,000
Condensed Consolidating Statement Of Cash Flows [Abstract]
Net cash flow provided by (used for) operating activities			(301,000,000)	(334,000,000)
Investing Activities
Capital expenditures			0	0
Investments in and advances to investee companies			0	0
Proceeds from sale of investments				1,000,000
Proceeds from dispositions			0	0
Other investing activities			4,000,000	0
Net cash flow provided by (used for) investing activities from continuing operations			4,000,000	1,000,000
Net cash flow provided by (used for) investing activities from discontinued operations			(3,000,000)	0
Net cash flow provided by (used for) investing activities			1,000,000	1,000,000
Financing Activities
Repayments of short-term debt borrowings, net			(222,000,000)	(94,000,000)
Repayment of notes				(99,000,000)
Proceeds from issuance of notes, net			1,178,000,000
Payment of capital lease obligations			0	0
Dividends			(155,000,000)	(145,000,000)
Purchase of Company common stock			(1,832,000,000)	(2,468,000,000)
Payment of payroll taxes in lieu of issuing shares for stock-based compensation			(95,000,000)	(145,000,000)
Proceeds from exercise of stock options			123,000,000	192,000,000
Excess tax benefit from stock-based compensation			82,000,000	204,000,000
Increase (decrease) in intercompany payables			1,185,000,000	2,852,000,000
Net cash flow provided by (used for) financing activities from continuing operations			264,000,000	297,000,000
Net cash flow provided by (used for) financing activities from discontinued operations				0
Net cash flow provided by (used for) financing activities			264,000,000	297,000,000
Net increase (decrease) in cash and cash equivalents			(36,000,000)	(36,000,000)
Cash and cash equivalents, including discontinued operations, at beginning of period			63,000,000	80,000,000	80,000,000
Cash and cash equivalents, including discontinued operations, at end of period	27,000,000	44,000,000	27,000,000	44,000,000	63,000,000
CBS Operations Inc. [Member]
Condensed Consolidating Statement Of Operations [Abstract]
Revenues	3,000,000	3,000,000	6,000,000	6,000,000
Expenses:
Operating	2,000,000	2,000,000	3,000,000	3,000,000
Selling, general and administrative	55,000,000	50,000,000	116,000,000	114,000,000
Restructuring charges	0		0
Depreciation and amortization	5,000,000	3,000,000	10,000,000	7,000,000
Total expenses	62,000,000	55,000,000	129,000,000	124,000,000
Operating income (loss)	(59,000,000)	(52,000,000)	(123,000,000)	(118,000,000)
Interest (expense) income, net	(99,000,000)	(95,000,000)	(197,000,000)	(188,000,000)
Other items, net	(11,000,000)	(2,000,000)		(2,000,000)
Earnings from continuing operations before income taxes and equity in earnings (loss) of investee companies	(169,000,000)	(149,000,000)	(320,000,000)	(308,000,000)
Benefit (provision) for income taxes	55,000,000	51,000,000	104,000,000	105,000,000
Equity in earnings (loss) of investee companies, net of tax	149,000,000	292,000,000	464,000,000	664,000,000
Net earnings from continuing operations		194,000,000		461,000,000
Net earnings (loss) from discontinued operations, net of tax		0		(1,000,000)
Net earnings (loss)	35,000,000	194,000,000	248,000,000	460,000,000
Total comprehensive income	34,000,000	191,000,000	247,000,000	456,000,000
Assets [Abstract]
Cash and cash equivalents	1,000,000		1,000,000		1,000,000
Receivables, net	2,000,000		2,000,000		2,000,000
Programming and other inventory (Note 4)	2,000,000		2,000,000		3,000,000
Prepaid expenses and other current assets	32,000,000		32,000,000		27,000,000
Total current assets	37,000,000		37,000,000		33,000,000
Property and equipment	163,000,000		163,000,000		162,000,000
Less accumulated depreciation and amortization	108,000,000		108,000,000		98,000,000
Net property and equipment	55,000,000		55,000,000		64,000,000
Programming and other inventory (Note 4)	7,000,000		7,000,000		8,000,000
Goodwill	62,000,000		62,000,000		62,000,000
Intangible assets	0		0		0
Investments in consolidated subsidiaries	12,149,000,000		12,149,000,000		11,685,000,000
Other assets	12,000,000		12,000,000		17,000,000
Intercompany	2,450,000,000		2,450,000,000		2,726,000,000
Total Assets	14,772,000,000		14,772,000,000		14,595,000,000
Liabilities and Equity [Abstract]
Accounts payable	19,000,000		19,000,000		24,000,000
Participants' share and royalties payable	0		0		0
Program rights	2,000,000		2,000,000		3,000,000
Commercial paper	0		0		0
Current portion of long-term debt (Note 6)	0		0		0
Accrued expenses and other current liabilities	210,000,000		210,000,000		270,000,000
Total current liabilities	231,000,000		231,000,000		297,000,000
Long-term debt (Note 6)	0		0		0
Other liabilities	245,000,000		245,000,000		249,000,000
Intercompany	0		0		0
Stockholders' Equity [Abstract]
Preferred stock	0		0		0
Common stock	123,000,000		123,000,000		123,000,000
Additional paid-in capital	0		0		0
Retained earnings (deficit)	14,508,000,000		14,508,000,000		14,260,000,000
Accumulated other comprehensive loss (Note 8)	(4,000,000)		(4,000,000)		(3,000,000)
Stockholders' equity including treasury stock	14,627,000,000		14,627,000,000		14,380,000,000
Less treasury stock, at cost	331,000,000		331,000,000		331,000,000
Total Stockholders' Equity	14,296,000,000		14,296,000,000		14,049,000,000
Total Liabilities and Stockholders' Equity	14,772,000,000		14,772,000,000		14,595,000,000
Condensed Consolidating Statement Of Cash Flows [Abstract]
Net cash flow provided by (used for) operating activities			(150,000,000)	(166,000,000)
Investing Activities
Capital expenditures			(2,000,000)	(6,000,000)
Investments in and advances to investee companies			0	0
Proceeds from sale of investments				1,000,000
Proceeds from dispositions			0	0
Other investing activities			0	0
Net cash flow provided by (used for) investing activities from continuing operations			(2,000,000)	(5,000,000)
Net cash flow provided by (used for) investing activities from discontinued operations			0	0
Net cash flow provided by (used for) investing activities			(2,000,000)	(5,000,000)
Financing Activities
Repayments of short-term debt borrowings, net			0	0
Repayment of notes				0
Proceeds from issuance of notes, net			0
Payment of capital lease obligations			0	0
Dividends			0	0
Purchase of Company common stock			0	0
Payment of payroll taxes in lieu of issuing shares for stock-based compensation			0	0
Proceeds from exercise of stock options			0	0
Excess tax benefit from stock-based compensation			0	0
Increase (decrease) in intercompany payables			152,000,000	171,000,000
Net cash flow provided by (used for) financing activities from continuing operations			152,000,000	171,000,000
Net cash flow provided by (used for) financing activities from discontinued operations				0
Net cash flow provided by (used for) financing activities			152,000,000	171,000,000
Net increase (decrease) in cash and cash equivalents			0	0
Cash and cash equivalents, including discontinued operations, at beginning of period			1,000,000	1,000,000	1,000,000
Cash and cash equivalents, including discontinued operations, at end of period	1,000,000	1,000,000	1,000,000	1,000,000	1,000,000
Non-Guarantor Affiliates [Member]
Condensed Consolidating Statement Of Operations [Abstract]
Revenues	3,182,000,000	3,150,000,000	6,648,000,000	6,684,000,000
Expenses:
Operating	1,891,000,000	1,781,000,000	4,016,000,000	3,885,000,000
Selling, general and administrative	538,000,000	522,000,000	1,053,000,000	1,030,000,000
Restructuring charges	55,000,000		55,000,000
Depreciation and amortization	59,000,000	66,000,000	121,000,000	132,000,000
Total expenses	2,543,000,000	2,369,000,000	5,245,000,000	5,047,000,000
Operating income (loss)	639,000,000	781,000,000	1,403,000,000	1,637,000,000
Interest (expense) income, net	130,000,000	119,000,000	255,000,000	236,000,000
Other items, net	14,000,000	7,000,000		12,000,000
Earnings from continuing operations before income taxes and equity in earnings (loss) of investee companies	783,000,000	907,000,000	1,658,000,000	1,885,000,000
Benefit (provision) for income taxes	(256,000,000)	(307,000,000)	(545,000,000)	(633,000,000)
Equity in earnings (loss) of investee companies, net of tax	(6,000,000)	(10,000,000)	(19,000,000)	(20,000,000)
Net earnings from continuing operations		590,000,000		1,232,000,000
Net earnings (loss) from discontinued operations, net of tax		21,000,000		28,000,000
Net earnings (loss)	521,000,000	611,000,000	1,094,000,000	1,260,000,000
Total comprehensive income	542,000,000	609,000,000	1,115,000,000	1,255,000,000
Assets [Abstract]
Cash and cash equivalents	292,000,000		292,000,000		364,000,000
Receivables, net	3,098,000,000		3,098,000,000		3,428,000,000
Programming and other inventory (Note 4)	1,151,000,000		1,151,000,000		915,000,000
Prepaid expenses and other current assets	442,000,000		442,000,000		477,000,000
Total current assets	4,983,000,000		4,983,000,000		5,184,000,000
Property and equipment	2,976,000,000		2,976,000,000		2,961,000,000
Less accumulated depreciation and amortization	1,681,000,000		1,681,000,000		1,618,000,000
Net property and equipment	1,295,000,000		1,295,000,000		1,343,000,000
Programming and other inventory (Note 4)	1,792,000,000		1,792,000,000		1,802,000,000
Goodwill	6,503,000,000		6,503,000,000		6,538,000,000
Intangible assets	5,997,000,000		5,997,000,000		6,008,000,000
Investments in consolidated subsidiaries	0		0		0
Other assets	2,364,000,000		2,364,000,000		2,291,000,000
Intercompany	22,896,000,000		22,896,000,000		21,772,000,000
Total Assets	45,830,000,000		45,830,000,000		44,938,000,000
Liabilities and Equity [Abstract]
Accounts payable	177,000,000		177,000,000		275,000,000
Participants' share and royalties payable	975,000,000		975,000,000		999,000,000
Program rights	400,000,000		400,000,000		396,000,000
Commercial paper	0		0		0
Current portion of long-term debt (Note 6)	16,000,000		16,000,000		16,000,000
Accrued expenses and other current liabilities	888,000,000		888,000,000		1,064,000,000
Total current liabilities	2,456,000,000		2,456,000,000		2,750,000,000
Long-term debt (Note 6)	121,000,000		121,000,000		127,000,000
Other liabilities	3,358,000,000		3,358,000,000		3,281,000,000
Intercompany	0		0		0
Stockholders' Equity [Abstract]
Preferred stock	126,000,000		126,000,000		126,000,000
Common stock	590,000,000		590,000,000		590,000,000
Additional paid-in capital	60,894,000,000		60,894,000,000		60,894,000,000
Retained earnings (deficit)	(17,017,000,000)		(17,017,000,000)		(18,111,000,000)
Accumulated other comprehensive loss (Note 8)	102,000,000		102,000,000		81,000,000
Stockholders' equity including treasury stock	44,695,000,000		44,695,000,000		43,580,000,000
Less treasury stock, at cost	4,800,000,000		4,800,000,000		4,800,000,000
Total Stockholders' Equity	39,895,000,000		39,895,000,000		38,780,000,000
Total Liabilities and Stockholders' Equity	45,830,000,000		45,830,000,000		44,938,000,000
Condensed Consolidating Statement Of Cash Flows [Abstract]
Net cash flow provided by (used for) operating activities			1,314,000,000	1,124,000,000
Investing Activities
Capital expenditures			(44,000,000)	(63,000,000)
Investments in and advances to investee companies			(55,000,000)	(64,000,000)
Proceeds from sale of investments				1,000,000
Proceeds from dispositions			59,000,000	5,000,000
Other investing activities			(1,000,000)	(1,000,000)
Net cash flow provided by (used for) investing activities from continuing operations			(41,000,000)	(122,000,000)
Net cash flow provided by (used for) investing activities from discontinued operations			0	(23,000,000)
Net cash flow provided by (used for) investing activities			(41,000,000)	(145,000,000)
Financing Activities
Repayments of short-term debt borrowings, net			0	0
Repayment of notes				0
Proceeds from issuance of notes, net			0
Payment of capital lease obligations			(8,000,000)	(8,000,000)
Dividends			0	0
Purchase of Company common stock			0	0
Payment of payroll taxes in lieu of issuing shares for stock-based compensation			0	0
Proceeds from exercise of stock options			0	0
Excess tax benefit from stock-based compensation			0	0
Increase (decrease) in intercompany payables			(1,337,000,000)	(3,023,000,000)
Net cash flow provided by (used for) financing activities from continuing operations			(1,345,000,000)	(3,031,000,000)
Net cash flow provided by (used for) financing activities from discontinued operations				2,175,000,000
Net cash flow provided by (used for) financing activities			(1,345,000,000)	(856,000,000)
Net increase (decrease) in cash and cash equivalents			(72,000,000)	123,000,000
Cash and cash equivalents, including discontinued operations, at beginning of period			364,000,000	316,000,000	316,000,000
Cash and cash equivalents, including discontinued operations, at end of period	$ 292,000,000	$ 439,000,000	$ 292,000,000	$ 439,000,000	$ 364,000,000