Paramount Global (PARA) 10-Q 4 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 29, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	CBS Corporation
Entity Central Index Key	813,828
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Common Class A [Member]
Shares of common stock outstanding		37,726,904
Common Class B [Member]
Shares of common stock outstanding		415,313,216

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Revenues	$ 3,849	$ 3,500
Cost and expenses:
Operating	2,356	2,142
Selling, general and administrative	617	588
Depreciation and amortization	64	68
Other operating items, net	(9)	(19)
Total costs and expenses	3,028	2,779
Operating income (loss)	821	721
Interest expense	(100)	(93)
Interest income	7	5
Other items, net	(3)	(23)
Earnings before income taxes and equity in loss of investee companies	725	610
Provision for income taxes	(231)	(203)
Equity in loss of investee companies, net of tax	(21)	(13)
Net earnings	$ 473	$ 394
Basic net earnings per common share (in dollars per share)	$ 1.03	$ 0.79
Diluted net earnings per common share (in dollars per share)	$ 1.02	$ 0.78
Weighted average number of common shares outstanding:
Basic weighted average number of common shares outstanding	459	498
Diluted weighted average number of common shares outstanding	464	506
Dividends per common share (in dollars per share)	$ 0.15	$ 0.15

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Comprehensive Income (Loss), Net of Tax [Abstract]
Net earnings (loss)	$ 473	$ 394
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Cumulative translation adjustments	1	(3)
Amortization of net actuarial loss and prior service cost	10	9
Total other comprehensive income (loss), net of tax	11	6
Total comprehensive income (loss), net of tax	$ 484	$ 400

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Current Assets:
Cash and cash equivalents	$ 411,000,000	$ 323,000,000
Receivables, less allowances of $63 (2016 and 2015)	3,678,000,000	3,628,000,000
Programming and other inventory (Note 3)	822,000,000	1,271,000,000
Prepaid income taxes	0	101,000,000
Prepaid expenses	189,000,000	175,000,000
Other current assets	434,000,000	249,000,000
Total current assets	5,534,000,000	5,747,000,000
Property and equipment	3,248,000,000	3,243,000,000
Less accumulated depreciation and amortization	1,872,000,000	1,838,000,000
Net property and equipment	1,376,000,000	1,405,000,000
Programming and other inventory (Note 3)	2,023,000,000	1,957,000,000
Goodwill	6,533,000,000	6,481,000,000
Intangible assets	5,509,000,000	5,514,000,000
Other assets	2,526,000,000	2,661,000,000
Total Assets	23,501,000,000	23,765,000,000
Current Liabilities:
Accounts payable	196,000,000	192,000,000
Accrued compensation	193,000,000	315,000,000
Participants' share and royalties payable	987,000,000	1,013,000,000
Program rights	520,000,000	374,000,000
Deferred revenues	205,000,000	295,000,000
Income taxes payable	68,000,000	0
Current portion of long-term debt (Note 5)	23,000,000	222,000,000
Accrued expenses and other current liabilities	1,192,000,000	1,149,000,000
Total current liabilities	3,384,000,000	3,560,000,000
Long-term debt (Note 5)	8,226,000,000	8,226,000,000
Pension and postretirement benefit obligations	1,558,000,000	1,575,000,000
Deferred income tax liabilities, net	1,562,000,000	1,509,000,000
Other liabilities	3,220,000,000	3,260,000,000
Liabilities of discontinued operations	$ 68,000,000	$ 72,000,000
Commitments and contingencies (Note 9)
Stockholders' Equity [Abstract]
Common stock	$ 1,000,000	$ 1,000,000
Additional paid-in capital	43,990,000,000	44,055,000,000
Accumulated deficit	(20,045,000,000)	(20,518,000,000)
Accumulated other comprehensive loss (Note 7)	(759,000,000)	(770,000,000)
Stockholders' equity including treasury stock	23,187,000,000	22,768,000,000
Less treasury stock, at cost	17,704,000,000	17,205,000,000
Total Stockholders' Equity	5,483,000,000	5,563,000,000
Total Liabilities and Stockholders' Equity	23,501,000,000	23,765,000,000
Common Class A [Member]
Stockholders' Equity [Abstract]
Common stock	0	0
Common Class B [Member]
Stockholders' Equity [Abstract]
Common stock	$ 1,000,000	$ 1,000,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Balance Sheet Parentheticals [Abstract]
Allowance for receivables	$ 63	$ 63
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	827	826
Treasury stock, at cost, Class B shares	411	401

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating Activities
Net earnings (loss)	$ 473	$ 394
Adjustments to reconcile net earnings to net cash flow provided by operating activities:
Depreciation and amortization	64	68
Stock-based compensation	43	46
Equity in loss of investee companies, net of tax and distributions	22	13
Change in assets and liabilities, net of investing and financing activities	426	(104)
Net cash flow provided by (used for) operating activities	1,028	417
Investing Activities
Acquisitions	(50)	(1)
Capital expenditures	(38)	(17)
Investments in and advances to investee companies	(32)	(39)
Proceeds from dispositions	29	59
Other investing activities	(7)	3
Net cash flow provided by (used for) investing activities from continuing operations	(98)	5
Net cash flow provided by (used for) investing activities from discontinued operations	0	(3)
Net cash flow provided by (used for) investing activities	(98)	2
Financing Activities
Repayments of short-term debt borrowings, net	0	(616)
Proceeds from issuance of senior notes	0	1,178
Repayment of senior debentures	(200)	0
Payment of capital lease obligations	(4)	(4)
Dividends	(73)	(80)
Purchase of Company common stock	(533)	(1,049)
Payment of payroll taxes in lieu of issuing shares for stock-based compensation	(46)	(82)
Proceeds from exercise of stock options	6	80
Excess tax benefit from stock-based compensation	8	57
Net cash flow provided by (used for) financing activities	(842)	(516)
Net increase (decrease) in cash and cash equivalents	88	(97)
Cash and cash equivalents, at beginning of period	323	428
Cash and cash equivalents, at end of period	411	331
Supplemental Cash Flow Information [Abstract]
Cash paid for interest	158	117
Cash paid for income taxes	$ 7	$ 4

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
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). 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, 2015 . In the opinion of management, the accompanying unaudited financial statements reflect all adjustments, consisting only 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. Other Operating Items, Net -Other operating items, net for the three months ended March 31, 2016 and 2015 includes gains from the sales of businesses, and for 2016 also includes a multiyear, retroactive impact of a new operating tax. 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”) 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 8 million and 5 million stock options and RSUs for the three months ended March 31, 2016 and 2015 , respectively. The table below presents a reconciliation of weighted average shares used in the calculation of basic and diluted EPS. Three Months Ended March 31, (in millions) 2016 2015 Weighted average shares for basic EPS 459 498 Dilutive effect of shares issuable under stock-based compensation plans 5 8 Weighted average shares for diluted EPS 464 506 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 three months ended March 31, 2016 and 2015 , the Company recorded dividends of $69 million and $75 million , respectively, as a reduction to additional paid-in capital as the Company had an accumulated deficit balance. Adoption of New Accounting Standards Simplifying the Accounting for Measurement Period Adjustments During the first quarter of 2016, the Company adopted amended Financial Accounting Standards Board (“FASB”) guidance which eliminates the requirement to retrospectively account for adjustments to provisional amounts recognized in a business combination when new information is obtained during the measurement period about facts and circumstances that existed as of the acquisition date. Under the amended guidance the acquirer is required to recognize such adjustments in the reporting period in which the adjustment amounts are identified. Such adjustments also include the effect on earnings from any changes in depreciation, amortization, or other income effects resulting from the change to provisional amounts, as if the change occurred at the acquisition date. The amendment also requires disclosure or separate presentation on the face of the income statement of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. The adoption of this guidance did not have an effect on the Company’s consolidated financial statements. Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items During the first quarter of 2016, the Company adopted amended FASB 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 are required to be presented as a separate component of income from continuing operations or disclosed in the notes to the financial statements. The adoption of this guidance did not have an effect 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 During the first quarter of 2016, the Company adopted FASB 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. The Company should begin recognizing compensation cost in the period in which it becomes probable that the performance target will be achieved, for the cumulative amount of compensation cost attributable to the period(s) for which the requisite service has already been rendered. The adoption of this guidance did not have an effect on the Company’s consolidated financial statements. Recent Pronouncements Improvements to Employee Share-Based Payment Accounting In March 2016, the FASB issued amended guidance which simplifies several aspects of the accounting for employee share-based payment transactions. Under this amended guidance, all excess tax benefits and tax deficiencies will be recognized as income tax expense or benefit in the income statement in the period in which the awards vest or are exercised. In the statement of cash flows, excess tax benefits should be classified with other income tax cash flows in operating activities. The amended guidance also gives the option to make a policy election to account for forfeitures as they occur and increases the threshold for awards that are partially settled in cash to qualify for equity classification. The Company expects that the adoption of this guidance will introduce volatility into the Company’s income tax provision, which will be impacted by the timing of employee exercises and changes in the Company’s stock price. This guidance is effective for interim and annual reporting periods beginning after December 15, 2016, with early adoption permitted. Leases In February 2016, the FASB issued new guidance on the accounting for leases, which supersedes previous lease guidance. Under this guidance, for all leases with terms in excess of one year, including operating leases, the Company will be required to recognize on its balance sheet a lease liability and a right-of-use asset representing its right to use the underlying asset for the lease term. The new guidance retains a distinction between finance leases and operating leases and the classification criteria is substantially similar to previous guidance. Additionally, the recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee have not significantly changed. The Company is currently evaluating the impact of this guidance on its consolidated balance sheets. This guidance is effective for interim and annual reporting periods beginning after December 15, 2018, with early adoption permitted. 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. 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 anticipates that this guidance will result in changes to its revenue recognition and is currently assessing the impact. This guidance 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	3 Months Ended
	Mar. 31, 2016
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 months ended March 31, 2016 and 2015 . Three Months Ended March 31, 2016 2015 RSUs $ 36 $ 38 Stock options 7 8 Stock-based compensation expense, before income taxes 43 46 Related tax benefit (17 ) (18 ) Stock-based compensation expense, net of tax benefit $ 26 $ 28 During the three months ended March 31, 2016 , the Company granted 3 million RSUs for CBS Corp. Class B Common Stock with a weighted average per unit grant-date fair value of $45.74 . RSUs granted during the first quarter of 2016 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 conditions. Compensation expense is recorded based on the probable outcome of the performance conditions. During the three months ended March 31, 2016 , the Company also granted 2 million stock options with a weighted average exercise price of $45.79 . Stock options granted during the first quarter of 2016 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 March 31, 2016 was $286 million , which is expected to be recognized over a weighted average period of 2.7 years . Total unrecognized compensation cost related to unvested stock option awards at March 31, 2016 was $65 million , which is expected to be recognized over a weighted average period of 2.7 years .

Programming and Other Inventory

Programming and Other Inventory	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Programming and Other Inventory	3 ) PROGRAMMING AND OTHER INVENTORY At At March 31, 2016 December 31, 2015 Acquired program rights $ 1,098 $ 1,533 Internally produced programming: Released 1,542 1,261 In process and other 155 392 Publishing, primarily finished goods 50 42 Total programming and other inventory 2,845 3,228 Less current portion 822 1,271 Total noncurrent programming and other inventory $ 2,023 $ 1,957

Related Parties

Related Parties	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
Related Parties	4 ) 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 Chairman Emeritus of each of 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 each of 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 March 31, 2016 , NAI directly or indirectly owned approximately 79.5% of CBS Corp.’s voting Class A Common Stock, and owned approximately 8.6% 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 $38 million and $46 million for the three months ended March 31, 2016 and 2015 , respectively. The Company places advertisements with and leases production facilities from various subsidiaries of Viacom Inc. The total amounts for these transactions were $7 million and $6 million for the three months ended March 31, 2016 and 2015 , 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 March 31, 2016 and December 31, 2015 . At At March 31, 2016 December 31, 2015 Receivables $ 115 $ 115 Other assets (Receivables, noncurrent) 30 38 Total amounts due from Viacom Inc . $ 145 $ 153 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 $32 million and $48 million for the three months ended March 31, 2016 and 2015 , respectively. At March 31, 2016 and December 31, 2015 , total amounts due from these joint ventures were $46 million and $48 million , 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	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Bank Financing and Debt	5 ) BANK FINANCING AND DEBT The following table sets forth the Company’s debt. At At March 31, 2016 December 31, 2015 Senior debt (1.95% - 7.875% due 2016 - 2045) (a) $ 8,166 $ 8,365 Obligations under capital leases 83 83 Total debt 8,249 8,448 Less current portion of long-term debt 23 222 Total long-term debt, net of current portion $ 8,226 $ 8,226 (a) At March 31, 2016 and December 31, 2015 , the senior debt balances included (i) a net unamortized discount of $44 million and $45 million , respectively, (ii) unamortized deferred financing costs of $43 million and $44 million , respectively, and (iii) an increase in the carrying value of the debt relating to previously settled fair value hedges of $13 million and $14 million , respectively. The face value of the Company’s senior debt was $8.24 billion and $8.44 billion at March 31, 2016 and December 31, 2015 , respectively. During January 2016, the Company repaid its $200 million of outstanding 7.625% senior debentures upon maturity. Commercial Paper The Company had no outstanding commercial paper borrowings under its $2.5 billion commercial paper program at March 31, 2016 and December 31, 2015 . Credit Facility At March 31, 2016 , 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 March 31, 2016 , the Company’s Consolidated Leverage Ratio was approximately 2.4x . 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 March 31, 2016 , 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	3 Months Ended
	Mar. 31, 2016
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]
Pension and Other Postretirement Benefits	6 ) 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 March 31, 2016 2015 2016 2015 Components of net periodic cost: Service cost $ 8 $ 8 $ — $ — Interest cost 54 52 5 5 Expected return on plan assets (57 ) (65 ) — — Amortization of actuarial loss (gain) (a) 21 20 (5 ) (5 ) Net periodic cost $ 26 $ 15 $ — $ — (a) Reflects amounts reclassified from accumulated other comprehensive income (loss) to net earnings.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2016
Stockholders' Equity Note [Abstract]
Stockholders' Equity	7 ) STOCKHOLDERS’ EQUITY During the first quarter of 2016 , the Company repurchased 10.3 million shares of its Class B Common Stock under its share repurchase program for $500 million . At March 31, 2016 , the Company had $1.50 billion of authorization remaining under its share repurchase program. During the first quarter of 2016 , the Company declared a quarterly cash dividend of $.15 on its Class A and Class B Common Stock, resulting in total dividends of $69 million , payable on April 1, 2016 . 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 Accumulated Other Comprehensive Loss At December 31, 2015 $ 152 $ (922 ) $ (770 ) Other comprehensive income before reclassifications 1 — 1 Reclassifications to net earnings — 10 (a) 10 Net other comprehensive income 1 10 11 At March 31, 2016 $ 153 $ (912 ) $ (759 ) Cumulative Translation Adjustments Net Actuarial Gain (Loss) and Prior Service Cost Accumulated Other Comprehensive Loss At December 31, 2014 $ 157 $ (892 ) $ (735 ) Other comprehensive loss before reclassifications (3 ) — (3 ) Reclassifications to net earnings — 9 (a) 9 Net other comprehensive income (loss) (3 ) 9 6 At March 31, 2015 $ 154 $ (883 ) $ (729 ) (a) Reflects amortization of net actuarial losses. See Note 6 . 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 $6 million for both the three months ended March 31, 2016 and 2015 .

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	8 ) INCOME TAXES The provision for income taxes represents federal, state and local, and foreign income taxes on earnings before income taxes and equity in loss of investee companies. The provision for income taxes was $231 million for the three months ended March 31, 2016 and $203 million for the three months ended March 31, 2015 , reflecting an effective income tax rate of 31.9% and 33.3% , respectively. The lower tax rate for the three months ended March 31, 2016 includes a higher domestic production deduction resulting from the mix of revenues during the period and a lower effective state tax rate.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	9 ) COMMITMENTS AND CONTINGENCIES Guarantees The Company 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 March 31, 2016 , the outstanding letters of credit and surety bonds approximated $110 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 March 31, 2016 , the Company had pending approximately 35,040 asbestos claims, as compared with approximately 36,030 as of December 31, 2015 and 40,090 as of March 31, 2015 . During the first quarter of 2016 , the Company received approximately 1,180 new claims and closed or moved to an inactive docket approximately 2,170 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. In 2015 , as the result of an insurance settlement, insurance recoveries exceeded the Company’s after tax costs for settlement and defense of asbestos claims by approximately $5 million . In 2014 , the Company’s costs for settlement and defense of asbestos claims after insurance and taxes were approximately $11 million . 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	3 Months Ended
	Mar. 31, 2016
Restructuring Charges [Abstract]
Restructuring Charges	10 ) RESTRUCTURING CHARGES During the year ended December 31, 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 $81 million , reflecting $48 million of severance costs and $33 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 March 31, 2016 , the cumulative settlements for the 2015 and 2014 restructuring charges were $67 million , of which $41 million was for severance costs and $26 million was for costs associated with contractual obligations. The Company expects to substantially utilize its restructuring reserves by the end of 2016 . Balance at 2016 Balance at December 31, 2015 Settlements March 31, 2016 Entertainment $ 19 $ (6 ) $ 13 Local Broadcasting 34 (8 ) 26 Corporate 1 — 1 Total $ 54 $ (14 ) $ 40 Balance at 2015 2015 Balance at December 31, 2014 Charges Settlements December 31, 2015 Entertainment $ 6 $ 26 $ (13 ) $ 19 Local Broadcasting 10 55 (31 ) 34 Corporate 2 — (1 ) 1 Total $ 18 $ 81 $ (45 ) $ 54

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Financial Instruments and Fair Value Measurements	11 ) FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS The Company’s carrying value of financial instruments approximates fair value, except for notes and debentures, which are not recorded at fair value. At March 31, 2016 and December 31, 2015 , the carrying value of the Company’s senior debt was $8.17 billion and $8.37 billion , respectively, and the fair value, which is estimated based on quoted market prices for similar liabilities (Level 2) and includes accrued interest, was $8.96 billion and $8.78 billion , respectively. The Company uses derivative financial instruments primarily to modify its exposure to market risks from fluctuations in 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, in currencies such as the British Pound, the Euro, the Canadian Dollar and the Australian Dollar, generally for periods up to 24 months. The Company designates forward contracts used to hedge committed and forecasted foreign currency transactions 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 March 31, 2016 and December 31, 2015 , the notional amount of all foreign exchange contracts was $340 million and $291 million , respectively. Gains (losses) recognized on derivative financial instruments were as follows: Three Months Ended March 31, 2016 2015 Financial Statement Account Non-designated foreign exchange contracts $ (6 ) $ 13 Other items, net Designated interest rate swaps (a) $ — $ 2 Interest expense (a) The gain during the three months ended March 31, 2015 related to interest rate swaps that were settled during 2015 . 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 March 31, 2016 and December 31, 2015 . 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 March 31, 2016 Level 1 Level 2 Level 3 Total Assets: Foreign currency hedges $ — $ 9 $ — $ 9 Total Assets $ — $ 9 $ — $ 9 Liabilities: Deferred compensation $ — $ 313 $ — $ 313 Foreign currency hedges — 7 — 7 Total Liabilities $ — $ 320 $ — $ 320 At December 31, 2015 Level 1 Level 2 Level 3 Total Assets: Foreign currency hedges $ — $ 13 $ — $ 13 Total Assets $ — $ 13 $ — $ 13 Liabilities: Deferred compensation $ — $ 312 $ — $ 312 Total Liabilities $ — $ 312 $ — $ 312 The fair value of foreign currency hedges is determined based on the present value of future cash flows using observable inputs including foreign currency exchange rates. The fair value of deferred compensation liabilities is determined based on the fair value of the investments elected by employees.

Reportable Segments

Reportable Segments	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Reportable Segments	12 ) 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 March 31, 2016 2015 Revenues: Entertainment $ 2,587 $ 2,261 Cable Networks 525 539 Publishing 145 145 Local Broadcasting 649 596 Corporate/Eliminations (57 ) (41 ) Total Revenues $ 3,849 $ 3,500 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 March 31, 2016 2015 Intercompany Revenues: Entertainment $ 61 $ 40 Local Broadcasting 3 3 Total Intercompany Revenues $ 64 $ 43 The Company presents operating income (loss) excluding restructuring charges, impairment charges, and other operating items, net, if any, (“Segment Operating Income”) as the primary measure of profit and loss for its operating segments in accordance with FASB guidance for segment reporting. 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 March 31, 2016 2015 Segment Operating Income (Loss): Entertainment $ 449 $ 346 Cable Networks 228 251 Publishing 13 12 Local Broadcasting 206 161 Corporate (84 ) (68 ) Total Segment Operating Income 812 702 Other operating items, net (a) 9 19 Operating income 821 721 Interest expense (100 ) (93 ) Interest income 7 5 Other items, net (3 ) (23 ) Earnings before income taxes and equity in loss of investee companies 725 610 Provision for income taxes (231 ) (203 ) Equity in loss of investee companies, net of tax (21 ) (13 ) Net earnings $ 473 $ 394 (a) Other operating items, net includes gains from the sales of Internet businesses in China for the three months ended March 31, 2016 and 2015 , and for 2016 , also includes a multiyear, retroactive impact of a new operating tax. Three Months Ended March 31, 2016 2015 Depreciation and Amortization: Entertainment $ 30 $ 32 Cable Networks 6 6 Publishing 1 1 Local Broadcasting 19 21 Corporate 8 8 Total Depreciation and Amortization $ 64 $ 68 Three Months Ended March 31, 2016 2015 Stock-based Compensation: Entertainment $ 15 $ 16 Cable Networks 3 3 Publishing 1 1 Local Broadcasting 7 7 Corporate 17 19 Total Stock-based Compensation $ 43 $ 46 Three Months Ended March 31, 2016 2015 Capital Expenditures: Entertainment $ 13 $ 8 Cable Networks 2 1 Publishing 3 — Local Broadcasting 11 7 Corporate 9 1 Total Capital Expenditures $ 38 $ 17 At At March 31, 2016 December 31, 2015 Assets: Entertainment $ 10,888 $ 10,910 Cable Networks 2,405 2,369 Publishing 809 880 Local Broadcasting 9,013 9,105 Corporate 361 476 Discontinued operations 25 25 Total Assets $ 23,501 $ 23,765

Condensed Consolidating Financi

Condensed Consolidating Financial Statements	3 Months Ended
	Mar. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Financial Statements	13 ) 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 March 31, 2016 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Revenues $ 47 $ 3 $ 3,799 $ — $ 3,849 Costs and expenses: Operating 17 1 2,338 — 2,356 Selling, general and administrative 21 66 530 — 617 Depreciation and amortization 1 5 58 — 64 Other operating items, net — — (9 ) — (9 ) Total costs and expenses 39 72 2,917 — 3,028 Operating income (loss) 8 (69 ) 882 — 821 Interest (expense) income, net (124 ) (104 ) 135 — (93 ) Other items, net (1 ) (10 ) 8 — (3 ) Earnings (loss) before income taxes and equity in earnings (loss) of investee companies (117 ) (183 ) 1,025 — 725 Benefit (provision) for income taxes 37 59 (327 ) — (231 ) Equity in earnings (loss) of investee companies, net of tax 553 260 (21 ) (813 ) (21 ) Net earnings $ 473 $ 136 $ 677 $ (813 ) $ 473 Total comprehensive income $ 484 $ 140 $ 679 $ (819 ) $ 484 Statement of Operations For the Three Months Ended March 31, 2015 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Revenues $ 31 $ 3 $ 3,466 $ — $ 3,500 Costs and expenses: Operating 16 1 2,125 — 2,142 Selling, general and administrative 12 61 515 — 588 Depreciation and amortization 1 5 62 — 68 Other operating items, net — — (19 ) — (19 ) Total costs and expenses 29 67 2,683 — 2,779 Operating income (loss) 2 (64 ) 783 — 721 Interest (expense) income, net (115 ) (98 ) 125 — (88 ) Other items, net (1 ) 11 (33 ) — (23 ) Earnings (loss) before income taxes and equity in earnings (loss) of investee companies (114 ) (151 ) 875 — 610 Benefit (provision) for income taxes 37 49 (289 ) — (203 ) Equity in earnings (loss) of investee companies, net of tax 471 315 (13 ) (786 ) (13 ) Net earnings $ 394 $ 213 $ 573 $ (786 ) $ 394 Total comprehensive income $ 400 $ 220 $ 580 $ (800 ) $ 400 Balance Sheet At March 31, 2016 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Assets Cash and cash equivalents $ 170 $ 1 $ 240 $ — $ 411 Receivables, net 25 2 3,651 — 3,678 Programming and other inventory 4 3 815 — 822 Prepaid expenses and other current assets 30 23 599 (29 ) 623 Total current assets 229 29 5,305 (29 ) 5,534 Property and equipment 45 181 3,022 — 3,248 Less accumulated depreciation and amortization 22 123 1,727 — 1,872 Net property and equipment 23 58 1,295 — 1,376 Programming and other inventory 5 8 2,010 — 2,023 Goodwill 98 62 6,373 — 6,533 Intangible assets — — 5,509 — 5,509 Investments in consolidated subsidiaries 43,302 13,036 — (56,338 ) — Other assets 159 12 2,355 — 2,526 Intercompany — 2,100 24,847 (26,947 ) — Total Assets $ 43,816 $ 15,305 $ 47,694 $ (83,314 ) $ 23,501 Liabilities and Stockholders’ Equity Accounts payable $ 1 $ 3 $ 192 $ — $ 196 Participants’ share and royalties payable — — 987 — 987 Program rights 3 4 513 — 520 Current portion of long-term debt 7 — 16 — 23 Accrued expenses and other current liabilities 332 201 1,154 (29 ) 1,658 Total current liabilities 343 208 2,862 (29 ) 3,384 Long-term debt 8,113 — 113 — 8,226 Other liabilities 2,930 248 3,230 — 6,408 Intercompany 26,947 — — (26,947 ) — Stockholders’ Equity: Preferred stock — — 126 (126 ) — Common stock 1 123 590 (713 ) 1 Additional paid-in capital 43,990 — 60,894 (60,894 ) 43,990 Retained earnings (deficit) (20,045 ) 15,049 (15,404 ) 355 (20,045 ) Accumulated other comprehensive income (loss) (759 ) 8 83 (91 ) (759 ) 23,187 15,180 46,289 (61,469 ) 23,187 Less treasury stock, at cost 17,704 331 4,800 (5,131 ) 17,704 Total Stockholders’ Equity 5,483 14,849 41,489 (56,338 ) 5,483 Total Liabilities and Stockholders’ Equity $ 43,816 $ 15,305 $ 47,694 $ (83,314 ) $ 23,501 Balance Sheet At December 31, 2015 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Assets Cash and cash equivalents $ 267 $ 1 $ 55 $ — $ 323 Receivables, net 28 2 3,598 — 3,628 Programming and other inventory 3 3 1,265 — 1,271 Prepaid expenses and other current assets 192 26 337 (30 ) 525 Total current assets 490 32 5,255 (30 ) 5,747 Property and equipment 46 180 3,017 — 3,243 Less accumulated depreciation and amortization 20 118 1,700 — 1,838 Net property and equipment 26 62 1,317 — 1,405 Programming and other inventory 6 9 1,942 — 1,957 Goodwill 98 62 6,321 — 6,481 Intangible assets — — 5,514 — 5,514 Investments in consolidated subsidiaries 42,744 12,775 — (55,519 ) — Other assets 163 11 2,487 — 2,661 Intercompany — 2,248 23,988 (26,236 ) — Total Assets $ 43,527 $ 15,199 $ 46,824 $ (81,785 ) $ 23,765 Liabilities and Stockholders ’ Equity Accounts payable $ 1 $ 4 $ 187 $ — $ 192 Participants’ share and royalties payable — — 1,013 — 1,013 Program rights 4 4 366 — 374 Current portion of long-term debt 206 — 16 — 222 Accrued expenses and other current liabilities 418 230 1,141 (30 ) 1,759 Total current liabilities 629 238 2,723 (30 ) 3,560 Long-term debt 8,113 — 113 — 8,226 Other liabilities 2,986 252 3,178 — 6,416 Intercompany 26,236 — — (26,236 ) — Stockholders’ Equity: Preferred stock — — 126 (126 ) — Common stock 1 123 590 (713 ) 1 Additional paid-in capital 44,055 — 60,894 (60,894 ) 44,055 Retained earnings (deficit) (20,518 ) 14,913 (16,081 ) 1,168 (20,518 ) Accumulated other comprehensive income (loss) (770 ) 4 81 (85 ) (770 ) 22,768 15,040 45,610 (60,650 ) 22,768 Less treasury stock, at cost 17,205 331 4,800 (5,131 ) 17,205 Total Stockholders’ Equity 5,563 14,709 40,810 (55,519 ) 5,563 Total Liabilities and Stockholders’ Equity $ 43,527 $ 15,199 $ 46,824 $ (81,785 ) $ 23,765 Statement of Cash Flows For the Three Months Ended March 31, 2016 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Net cash flow (used for) provided by operating activities $ (157 ) $ (103 ) $ 1,288 $ — $ 1,028 Investing Activities: Acquisitions — — (50 ) — (50 ) Capital expenditures — (9 ) (29 ) — (38 ) Investments in and advances to investee companies — — (32 ) — (32 ) Proceeds from dispositions (2 ) — 31 — 29 Other investing activities (7 ) — — — (7 ) Net cash flow used for investing activities (9 ) (9 ) (80 ) — (98 ) Financing Activities: Repayment of senior debentures (200 ) — — — (200 ) Payment of capital lease obligations — — (4 ) — (4 ) Dividends (73 ) — — — (73 ) Purchase of Company common stock (533 ) — — — (533 ) Payment of payroll taxes in lieu of issuing shares for stock-based compensation (46 ) — — — (46 ) Proceeds from exercise of stock options 6 — — — 6 Excess tax benefit from stock-based compensation 8 — — — 8 Increase (decrease) in intercompany payables 907 112 (1,019 ) — — Net cash flow provided by (used for) financing activities 69 112 (1,023 ) — (842 ) Net (decrease) increase in cash and cash equivalents (97 ) — 185 — 88 Cash and cash equivalents at beginning of period 267 1 55 — 323 Cash and cash equivalents at end of period $ 170 $ 1 $ 240 $ — $ 411 Statement of Cash Flows For the Three Months Ended March 31, 2015 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Net cash flow (used for) provided by operating activities $ (117 ) $ (137 ) $ 671 $ — $ 417 Investing Activities: Acquisitions — — (1 ) — (1 ) Capital expenditures — (1 ) (16 ) — (17 ) Investments in and advances to investee companies — — (39 ) — (39 ) Proceeds from dispositions — — 59 — 59 Other investing activities 3 — — — 3 Net cash flow provided by (used for) investing activities from continuing operations 3 (1 ) 3 — 5 Net cash flow used for investing activities from discontinued operations (3 ) — — — (3 ) Net cash flow (used for) provided by investing activities — (1 ) 3 — 2 Financing Activities: Repayments of short-term debt borrowings, net (616 ) — — — (616 ) Proceeds from issuance of senior notes 1,178 — — — 1,178 Payment of capital lease obligations — — (4 ) — (4 ) Dividends (80 ) — — — (80 ) Purchase of Company common stock (1,049 ) — — — (1,049 ) Payment of payroll taxes in lieu of issuing shares for stock-based compensation (82 ) — — — (82 ) Proceeds from exercise of stock options 80 — — — 80 Excess tax benefit from stock-based compensation 57 — — — 57 Increase (decrease) in intercompany payables 729 138 (867 ) — — Net cash flow provided by (used for) financing activities 217 138 (871 ) — (516 ) Net increase (decrease) in cash and cash equivalents 100 — (197 ) — (97 ) Cash and cash equivalents at beginning of period 63 1 364 — 428 Cash and cash equivalents at end of period $ 163 $ 1 $ 167 $ — $ 331

Basis of Presentation and Sum20

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
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”) only in the periods in which such effect would have been dilutive.

Basis of Presentation and Sum21

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2016
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 March 31, (in millions) 2016 2015 Weighted average shares for basic EPS 459 498 Dilutive effect of shares issuable under stock-based compensation plans 5 8 Weighted average shares for diluted EPS 464 506

Stock-based Compensation (Table

Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2016
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 months ended March 31, 2016 and 2015 . Three Months Ended March 31, 2016 2015 RSUs $ 36 $ 38 Stock options 7 8 Stock-based compensation expense, before income taxes 43 46 Related tax benefit (17 ) (18 ) Stock-based compensation expense, net of tax benefit $ 26 $ 28

Programming and Other Invento23

Programming and Other Inventory (Tables)	3 Months Ended
	Mar. 31, 2016
Inventory Disclosure [Abstract]
Current Programming and Other Inventory	At At March 31, 2016 December 31, 2015 Acquired program rights $ 1,098 $ 1,533 Internally produced programming: Released 1,542 1,261 In process and other 155 392 Publishing, primarily finished goods 50 42 Total programming and other inventory 2,845 3,228 Less current portion 822 1,271 Total noncurrent programming and other inventory $ 2,023 $ 1,957
Noncurrent Programming and Other Inventory	At At March 31, 2016 December 31, 2015 Acquired program rights $ 1,098 $ 1,533 Internally produced programming: Released 1,542 1,261 In process and other 155 392 Publishing, primarily finished goods 50 42 Total programming and other inventory 2,845 3,228 Less current portion 822 1,271 Total noncurrent programming and other inventory $ 2,023 $ 1,957

Related Parties (Tables)

Related Parties (Tables)	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 and December 31, 2015 . At At March 31, 2016 December 31, 2015 Receivables $ 115 $ 115 Other assets (Receivables, noncurrent) 30 38 Total amounts due from Viacom Inc . $ 145 $ 153

Bank Financing and Debt (Tables

Bank Financing and Debt (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Schedule of Debt	The following table sets forth the Company’s debt. At At March 31, 2016 December 31, 2015 Senior debt (1.95% - 7.875% due 2016 - 2045) (a) $ 8,166 $ 8,365 Obligations under capital leases 83 83 Total debt 8,249 8,448 Less current portion of long-term debt 23 222 Total long-term debt, net of current portion $ 8,226 $ 8,226 (a) At March 31, 2016 and December 31, 2015 , the senior debt balances included (i) a net unamortized discount of $44 million and $45 million , respectively, (ii) unamortized deferred financing costs of $43 million and $44 million , respectively, and (iii) an increase in the carrying value of the debt relating to previously settled fair value hedges of $13 million and $14 million , respectively. The face value of the Company’s senior debt was $8.24 billion and $8.44 billion at March 31, 2016 and December 31, 2015 , respectively.

Pension and Other Postretirem26

Pension and Other Postretirement Benefits (Tables)	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 2015 2016 2015 Components of net periodic cost: Service cost $ 8 $ 8 $ — $ — Interest cost 54 52 5 5 Expected return on plan assets (57 ) (65 ) — — Amortization of actuarial loss (gain) (a) 21 20 (5 ) (5 ) Net periodic cost $ 26 $ 15 $ — $ — (a) Reflects amounts reclassified from accumulated other comprehensive income (loss) to net earnings.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2016
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 Accumulated Other Comprehensive Loss At December 31, 2015 $ 152 $ (922 ) $ (770 ) Other comprehensive income before reclassifications 1 — 1 Reclassifications to net earnings — 10 (a) 10 Net other comprehensive income 1 10 11 At March 31, 2016 $ 153 $ (912 ) $ (759 ) Cumulative Translation Adjustments Net Actuarial Gain (Loss) and Prior Service Cost Accumulated Other Comprehensive Loss At December 31, 2014 $ 157 $ (892 ) $ (735 ) Other comprehensive loss before reclassifications (3 ) — (3 ) Reclassifications to net earnings — 9 (a) 9 Net other comprehensive income (loss) (3 ) 9 6 At March 31, 2015 $ 154 $ (883 ) $ (729 ) (a) Reflects amortization of net actuarial losses. See Note 6 .

Restructuring Charges (Tables)

Restructuring Charges (Tables)	3 Months Ended
	Mar. 31, 2016
Restructuring Charges [Abstract]
Restructuring Reserve Rollforward	Balance at 2016 Balance at December 31, 2015 Settlements March 31, 2016 Entertainment $ 19 $ (6 ) $ 13 Local Broadcasting 34 (8 ) 26 Corporate 1 — 1 Total $ 54 $ (14 ) $ 40 Balance at 2015 2015 Balance at December 31, 2014 Charges Settlements December 31, 2015 Entertainment $ 6 $ 26 $ (13 ) $ 19 Local Broadcasting 10 55 (31 ) 34 Corporate 2 — (1 ) 1 Total $ 18 $ 81 $ (45 ) $ 54

Financial Instruments and Fai29

Financial Instruments and Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Financial Instruments	Gains (losses) recognized on derivative financial instruments were as follows: Three Months Ended March 31, 2016 2015 Financial Statement Account Non-designated foreign exchange contracts $ (6 ) $ 13 Other items, net Designated interest rate swaps (a) $ — $ 2 Interest expense (a) The gain during the three months ended March 31, 2015 related to interest rate swaps that were settled during 2015 .
Fair Value Measurements	The following tables set forth the Company’s assets and liabilities measured at fair value on a recurring basis at March 31, 2016 and December 31, 2015 . 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 March 31, 2016 Level 1 Level 2 Level 3 Total Assets: Foreign currency hedges $ — $ 9 $ — $ 9 Total Assets $ — $ 9 $ — $ 9 Liabilities: Deferred compensation $ — $ 313 $ — $ 313 Foreign currency hedges — 7 — 7 Total Liabilities $ — $ 320 $ — $ 320 At December 31, 2015 Level 1 Level 2 Level 3 Total Assets: Foreign currency hedges $ — $ 13 $ — $ 13 Total Assets $ — $ 13 $ — $ 13 Liabilities: Deferred compensation $ — $ 312 $ — $ 312 Total Liabilities $ — $ 312 $ — $ 312

Reportable Segments (Tables)

Reportable Segments (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Revenues by Segment	Three Months Ended March 31, 2016 2015 Revenues: Entertainment $ 2,587 $ 2,261 Cable Networks 525 539 Publishing 145 145 Local Broadcasting 649 596 Corporate/Eliminations (57 ) (41 ) Total Revenues $ 3,849 $ 3,500
Intercompany Revenues by Segment	Three Months Ended March 31, 2016 2015 Intercompany Revenues: Entertainment $ 61 $ 40 Local Broadcasting 3 3 Total Intercompany Revenues $ 64 $ 43
Segment Operating Income (Loss) and Reconciliation to Net Earnings (Loss)	Three Months Ended March 31, 2016 2015 Segment Operating Income (Loss): Entertainment $ 449 $ 346 Cable Networks 228 251 Publishing 13 12 Local Broadcasting 206 161 Corporate (84 ) (68 ) Total Segment Operating Income 812 702 Other operating items, net (a) 9 19 Operating income 821 721 Interest expense (100 ) (93 ) Interest income 7 5 Other items, net (3 ) (23 ) Earnings before income taxes and equity in loss of investee companies 725 610 Provision for income taxes (231 ) (203 ) Equity in loss of investee companies, net of tax (21 ) (13 ) Net earnings $ 473 $ 394 (a) Other operating items, net includes gains from the sales of Internet businesses in China for the three months ended March 31, 2016 and 2015 , and for 2016 , also includes a multiyear, retroactive impact of a new operating tax.
Depreciation and Amortization by Segment	Three Months Ended March 31, 2016 2015 Depreciation and Amortization: Entertainment $ 30 $ 32 Cable Networks 6 6 Publishing 1 1 Local Broadcasting 19 21 Corporate 8 8 Total Depreciation and Amortization $ 64 $ 68
Stock-based Compensation by Segment	Three Months Ended March 31, 2016 2015 Stock-based Compensation: Entertainment $ 15 $ 16 Cable Networks 3 3 Publishing 1 1 Local Broadcasting 7 7 Corporate 17 19 Total Stock-based Compensation $ 43 $ 46
Capital Expenditures by Segment	Three Months Ended March 31, 2016 2015 Capital Expenditures: Entertainment $ 13 $ 8 Cable Networks 2 1 Publishing 3 — Local Broadcasting 11 7 Corporate 9 1 Total Capital Expenditures $ 38 $ 17
Assets by Segment	At At March 31, 2016 December 31, 2015 Assets: Entertainment $ 10,888 $ 10,910 Cable Networks 2,405 2,369 Publishing 809 880 Local Broadcasting 9,013 9,105 Corporate 361 476 Discontinued operations 25 25 Total Assets $ 23,501 $ 23,765

Condensed Consolidating Finan31

Condensed Consolidating Financial Statements (Tables)	3 Months Ended
	Mar. 31, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Statements of Operations	Statement of Operations For the Three Months Ended March 31, 2016 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Revenues $ 47 $ 3 $ 3,799 $ — $ 3,849 Costs and expenses: Operating 17 1 2,338 — 2,356 Selling, general and administrative 21 66 530 — 617 Depreciation and amortization 1 5 58 — 64 Other operating items, net — — (9 ) — (9 ) Total costs and expenses 39 72 2,917 — 3,028 Operating income (loss) 8 (69 ) 882 — 821 Interest (expense) income, net (124 ) (104 ) 135 — (93 ) Other items, net (1 ) (10 ) 8 — (3 ) Earnings (loss) before income taxes and equity in earnings (loss) of investee companies (117 ) (183 ) 1,025 — 725 Benefit (provision) for income taxes 37 59 (327 ) — (231 ) Equity in earnings (loss) of investee companies, net of tax 553 260 (21 ) (813 ) (21 ) Net earnings $ 473 $ 136 $ 677 $ (813 ) $ 473 Total comprehensive income $ 484 $ 140 $ 679 $ (819 ) $ 484 Statement of Operations For the Three Months Ended March 31, 2015 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Revenues $ 31 $ 3 $ 3,466 $ — $ 3,500 Costs and expenses: Operating 16 1 2,125 — 2,142 Selling, general and administrative 12 61 515 — 588 Depreciation and amortization 1 5 62 — 68 Other operating items, net — — (19 ) — (19 ) Total costs and expenses 29 67 2,683 — 2,779 Operating income (loss) 2 (64 ) 783 — 721 Interest (expense) income, net (115 ) (98 ) 125 — (88 ) Other items, net (1 ) 11 (33 ) — (23 ) Earnings (loss) before income taxes and equity in earnings (loss) of investee companies (114 ) (151 ) 875 — 610 Benefit (provision) for income taxes 37 49 (289 ) — (203 ) Equity in earnings (loss) of investee companies, net of tax 471 315 (13 ) (786 ) (13 ) Net earnings $ 394 $ 213 $ 573 $ (786 ) $ 394 Total comprehensive income $ 400 $ 220 $ 580 $ (800 ) $ 400
Condensed Consolidating Balance Sheets	Balance Sheet At March 31, 2016 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Assets Cash and cash equivalents $ 170 $ 1 $ 240 $ — $ 411 Receivables, net 25 2 3,651 — 3,678 Programming and other inventory 4 3 815 — 822 Prepaid expenses and other current assets 30 23 599 (29 ) 623 Total current assets 229 29 5,305 (29 ) 5,534 Property and equipment 45 181 3,022 — 3,248 Less accumulated depreciation and amortization 22 123 1,727 — 1,872 Net property and equipment 23 58 1,295 — 1,376 Programming and other inventory 5 8 2,010 — 2,023 Goodwill 98 62 6,373 — 6,533 Intangible assets — — 5,509 — 5,509 Investments in consolidated subsidiaries 43,302 13,036 — (56,338 ) — Other assets 159 12 2,355 — 2,526 Intercompany — 2,100 24,847 (26,947 ) — Total Assets $ 43,816 $ 15,305 $ 47,694 $ (83,314 ) $ 23,501 Liabilities and Stockholders’ Equity Accounts payable $ 1 $ 3 $ 192 $ — $ 196 Participants’ share and royalties payable — — 987 — 987 Program rights 3 4 513 — 520 Current portion of long-term debt 7 — 16 — 23 Accrued expenses and other current liabilities 332 201 1,154 (29 ) 1,658 Total current liabilities 343 208 2,862 (29 ) 3,384 Long-term debt 8,113 — 113 — 8,226 Other liabilities 2,930 248 3,230 — 6,408 Intercompany 26,947 — — (26,947 ) — Stockholders’ Equity: Preferred stock — — 126 (126 ) — Common stock 1 123 590 (713 ) 1 Additional paid-in capital 43,990 — 60,894 (60,894 ) 43,990 Retained earnings (deficit) (20,045 ) 15,049 (15,404 ) 355 (20,045 ) Accumulated other comprehensive income (loss) (759 ) 8 83 (91 ) (759 ) 23,187 15,180 46,289 (61,469 ) 23,187 Less treasury stock, at cost 17,704 331 4,800 (5,131 ) 17,704 Total Stockholders’ Equity 5,483 14,849 41,489 (56,338 ) 5,483 Total Liabilities and Stockholders’ Equity $ 43,816 $ 15,305 $ 47,694 $ (83,314 ) $ 23,501 Balance Sheet At December 31, 2015 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Assets Cash and cash equivalents $ 267 $ 1 $ 55 $ — $ 323 Receivables, net 28 2 3,598 — 3,628 Programming and other inventory 3 3 1,265 — 1,271 Prepaid expenses and other current assets 192 26 337 (30 ) 525 Total current assets 490 32 5,255 (30 ) 5,747 Property and equipment 46 180 3,017 — 3,243 Less accumulated depreciation and amortization 20 118 1,700 — 1,838 Net property and equipment 26 62 1,317 — 1,405 Programming and other inventory 6 9 1,942 — 1,957 Goodwill 98 62 6,321 — 6,481 Intangible assets — — 5,514 — 5,514 Investments in consolidated subsidiaries 42,744 12,775 — (55,519 ) — Other assets 163 11 2,487 — 2,661 Intercompany — 2,248 23,988 (26,236 ) — Total Assets $ 43,527 $ 15,199 $ 46,824 $ (81,785 ) $ 23,765 Liabilities and Stockholders ’ Equity Accounts payable $ 1 $ 4 $ 187 $ — $ 192 Participants’ share and royalties payable — — 1,013 — 1,013 Program rights 4 4 366 — 374 Current portion of long-term debt 206 — 16 — 222 Accrued expenses and other current liabilities 418 230 1,141 (30 ) 1,759 Total current liabilities 629 238 2,723 (30 ) 3,560 Long-term debt 8,113 — 113 — 8,226 Other liabilities 2,986 252 3,178 — 6,416 Intercompany 26,236 — — (26,236 ) — Stockholders’ Equity: Preferred stock — — 126 (126 ) — Common stock 1 123 590 (713 ) 1 Additional paid-in capital 44,055 — 60,894 (60,894 ) 44,055 Retained earnings (deficit) (20,518 ) 14,913 (16,081 ) 1,168 (20,518 ) Accumulated other comprehensive income (loss) (770 ) 4 81 (85 ) (770 ) 22,768 15,040 45,610 (60,650 ) 22,768 Less treasury stock, at cost 17,205 331 4,800 (5,131 ) 17,205 Total Stockholders’ Equity 5,563 14,709 40,810 (55,519 ) 5,563 Total Liabilities and Stockholders’ Equity $ 43,527 $ 15,199 $ 46,824 $ (81,785 ) $ 23,765
Condensed Consolidating Statements of Cash Flows	Statement of Cash Flows For the Three Months Ended March 31, 2016 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Net cash flow (used for) provided by operating activities $ (157 ) $ (103 ) $ 1,288 $ — $ 1,028 Investing Activities: Acquisitions — — (50 ) — (50 ) Capital expenditures — (9 ) (29 ) — (38 ) Investments in and advances to investee companies — — (32 ) — (32 ) Proceeds from dispositions (2 ) — 31 — 29 Other investing activities (7 ) — — — (7 ) Net cash flow used for investing activities (9 ) (9 ) (80 ) — (98 ) Financing Activities: Repayment of senior debentures (200 ) — — — (200 ) Payment of capital lease obligations — — (4 ) — (4 ) Dividends (73 ) — — — (73 ) Purchase of Company common stock (533 ) — — — (533 ) Payment of payroll taxes in lieu of issuing shares for stock-based compensation (46 ) — — — (46 ) Proceeds from exercise of stock options 6 — — — 6 Excess tax benefit from stock-based compensation 8 — — — 8 Increase (decrease) in intercompany payables 907 112 (1,019 ) — — Net cash flow provided by (used for) financing activities 69 112 (1,023 ) — (842 ) Net (decrease) increase in cash and cash equivalents (97 ) — 185 — 88 Cash and cash equivalents at beginning of period 267 1 55 — 323 Cash and cash equivalents at end of period $ 170 $ 1 $ 240 $ — $ 411 Statement of Cash Flows For the Three Months Ended March 31, 2015 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Net cash flow (used for) provided by operating activities $ (117 ) $ (137 ) $ 671 $ — $ 417 Investing Activities: Acquisitions — — (1 ) — (1 ) Capital expenditures — (1 ) (16 ) — (17 ) Investments in and advances to investee companies — — (39 ) — (39 ) Proceeds from dispositions — — 59 — 59 Other investing activities 3 — — — 3 Net cash flow provided by (used for) investing activities from continuing operations 3 (1 ) 3 — 5 Net cash flow used for investing activities from discontinued operations (3 ) — — — (3 ) Net cash flow (used for) provided by investing activities — (1 ) 3 — 2 Financing Activities: Repayments of short-term debt borrowings, net (616 ) — — — (616 ) Proceeds from issuance of senior notes 1,178 — — — 1,178 Payment of capital lease obligations — — (4 ) — (4 ) Dividends (80 ) — — — (80 ) Purchase of Company common stock (1,049 ) — — — (1,049 ) Payment of payroll taxes in lieu of issuing shares for stock-based compensation (82 ) — — — (82 ) Proceeds from exercise of stock options 80 — — — 80 Excess tax benefit from stock-based compensation 57 — — — 57 Increase (decrease) in intercompany payables 729 138 (867 ) — — Net cash flow provided by (used for) financing activities 217 138 (871 ) — (516 ) Net increase (decrease) in cash and cash equivalents 100 — (197 ) — (97 ) Cash and cash equivalents at beginning of period 63 1 364 — 428 Cash and cash equivalents at end of period $ 163 $ 1 $ 167 $ — $ 331

Basis of Presentation and Sum32

Basis of Presentation and Summary of Significant Accounting Policies (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Weighted average shares for basic EPS	459	498
Dilutive effect of shares issuable under stock-based compensation plans	5	8
Weighted average shares for diluted EPS	464	506
Dividends recorded on common stock	$ 69	$ 75
Stock Options And Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	8	5

Stock-based Compensation (Detai

Stock-based Compensation (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation [Abstract]
RSUs	$ 36	$ 38
Stock options	7	8
Stock-based compensation expense, before income taxes	43	46
Related tax benefit	(17)	(18)
Stock-based compensation expense, net of tax benefit	$ 26	$ 28
Number of RSUs granted during the period	3
Weighted average grant date fair value - RSUs	$ 45.74
Number of stock options granted during the period	2
Weighted average per unit exercise price - options	$ 45.79
Unrecognized future expense of RSUs	$ 286
Unrecognized future expense of stock options	$ 65
Term until expiration from grant date - 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 8 months 12 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 8 months 12 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

Programming and Other Invento34

Programming and Other Inventory (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Inventory Disclosure [Abstract]
Acquired program rights	$ 1,098	$ 1,533
Internally produced programming, released	1,542	1,261
Internally produced programming, in process and other	155	392
Publishing, primarily finished goods	50	42
Total programming and other inventory	2,845	3,228
Less current portion	822	1,271
Total noncurrent programming and other inventory	$ 2,023	$ 1,957

Related Parties (Details)

Related Parties (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
National Amusements, Inc. [Member]
Related Party Transaction [Line Items]
NAI ownership of CBS Corp. Class A Common Stock (percentage)	79.50%
NAI ownership of CBS Corp. Class A and Class B Common Stock on a combined basis (percentage)	8.60%
Viacom Inc. [Member]
Related Party Transaction [Line Items]
Revenues from transactions with related parties	$ 38	$ 46
Expenses from transactions with related parties	7	6
Receivables from Viacom Inc., current	115		$ 115
Receivables from Viacom Inc., noncurrent	30		38
Total amounts due from related parties	145		153
Domestic and International Television Joint Ventures [Member]
Related Party Transaction [Line Items]
Revenues from transactions with related parties	32	$ 48
Total amounts due from related parties	$ 46		$ 48

Bank Financing and Debt (Detail

Bank Financing and Debt (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
Senior debt (1.95% - 7.875% due 2016 - 2045) (a)	$ 8,166,000,000	$ 8,365,000,000
Obligations under capital leases	83,000,000	83,000,000
Current portion of long-term debt	23,000,000	222,000,000
Total long-term debt, net of current portion	8,226,000,000	8,226,000,000
Total debt	8,249,000,000	8,448,000,000
Net unamortized discount on senior debt	44,000,000	45,000,000
Unamortized deferred financing costs	43,000,000	44,000,000
Increase in carrying value of debt relating to previously settled fair value hedges	13,000,000	14,000,000
Commercial paper	0	$ 0
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	2.4x
Commercial Paper [Member]
Line of Credit Facility [Line Items]
Maximum borrowing capacity line under credit facility	$ 2,500,000,000

Bank Financing and Debt Additio

Bank Financing and Debt Additional Disclosures (Details) - USD ($)	Mar. 31, 2016	Jan. 31, 2016	Dec. 31, 2015
Debt Instruments [Line Items]
Commercial paper	$ 0		$ 0
Senior Notes [Member]
Debt Instruments [Line Items]
Face value of senior debt	$ 8,240,000,000		$ 8,440,000,000
Senior Notes [Member] | Maximum [Member]
Debt Instruments [Line Items]
Stated interest rate	7.875%
Senior Notes [Member] | Minimum [Member]
Debt Instruments [Line Items]
Stated interest rate	1.95%
Senior Notes [Member] | Senior Debentures 2016 [Member]
Debt Instruments [Line Items]
Stated interest rate		7.625%
Face value of senior debt		$ 200,000,000

Pension and Other Postretirem38

Pension and Other Postretirement Benefits (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Pension Benefits [Member]
Components Of Net Periodic Cost Details [Abstract]
Service cost	$ 8	$ 8
Interest cost	54	52
Expected return on plan assets	(57)	(65)
Amortization of actuarial loss (gain)	21	20
Net periodic cost	26	15
Postretirement Benefit [Member]
Components Of Net Periodic Cost Details [Abstract]
Service cost	0	0
Interest cost	5	5
Expected return on plan assets	0	0
Amortization of actuarial loss (gain)	(5)	(5)
Net periodic cost	$ 0	$ 0

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Stockholders' Equity Note [Abstract]
Class B common stock repurchased under repurchase program (shares)	10.3
Value of shares repurchased	$ 500
Remaining authorization under share repurchase program	$ 1,500
Dividends [Abstract]
Dividends per common share (in dollars per share)	$ 0.15	$ 0.15
Dividends recorded on common stock	$ 69	$ 75
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	(759)	(729)	$ (770)	$ (735)
Other comprehensive income (loss) before reclassifications	1	(3)
Reclassifications to net earnings	10	9
Net other comprehensive income (loss)	11	6
Tax provision on net actuarial gain (loss) and prior service costs related to pension and other postretirement benefit plans	6	6
Cumulative Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	153	154	152	157
Other comprehensive income (loss) before reclassifications	1	(3)
Reclassifications to net earnings	0	0
Net other comprehensive income (loss)	1	(3)
Net Actuarial Gain (Loss) and Prior Service Cost [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss)	(912)	(883)	$ (922)	$ (892)
Other comprehensive income (loss) before reclassifications	0	0
Reclassifications to net earnings	10	9
Net other comprehensive income (loss)	$ 10	$ 9

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 231	$ 203
Effective tax rate	31.90%	33.30%

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2016USD ($)claims	Dec. 31, 2015USD ($)claims	Dec. 31, 2014USD ($)	Mar. 31, 2015claims
Loss Contingencies [Line Items]
Outstanding letters of credit and surety bonds | $	$ 110
Costs for (recoveries from) settlement and defense of asbestos claims, net of insurance recoveries and taxes | $		$ (5)	$ 11
Asbestos Claims [Member]
Loss Contingencies [Line Items]
Number of pending asbestos claims	35,040	36,030		40,090
Number of new asbestos claims	1,180
Number of asbestos claims closed or moved to inactive docket	2,170

Restructuring Charges (Details)

Restructuring Charges (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended		27 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Mar. 31, 2016
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	$ 54	$ 18
Restructuring charges		81	$ 26
Restructuring settlements	(14)	(45)		$ (67)
Restructuring reserve, ending balance	40	54	18	40
Employee severance [Member]
Restructuring Reserve [Roll Forward]
Restructuring charges		48	17
Restructuring settlements				(41)
Contract termination [Member]
Restructuring Reserve [Roll Forward]
Restructuring charges		33	9
Restructuring settlements				(26)
Operating Segments [Member] | Entertainment Segment [Member]
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	19	6
Restructuring charges		26
Restructuring settlements	(6)	(13)
Restructuring reserve, ending balance	13	19	6	13
Operating Segments [Member] | Local Broadcasting Segment [Member]
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	34	10
Restructuring charges		55
Restructuring settlements	(8)	(31)
Restructuring reserve, ending balance	26	34	10	26
Corporate [Member]
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	1	2
Restructuring charges		0
Restructuring settlements	0	(1)
Restructuring reserve, ending balance	$ 1	$ 1	$ 2	$ 1

Financial Instruments and Fai43

Financial Instruments and Fair Value Measurements (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Senior Debt [Line Items]
Carrying value of senior debt	$ 8,166,000,000	$ 8,365,000,000
Assets, Fair Value Disclosure [Abstract]
Foreign exchange contracts	9,000,000	13,000,000
Total Assets	9,000,000	13,000,000
Liabilities, Fair Value Disclosure [Abstract]
Deferred compensation	313,000,000	312,000,000
Foreign exchange contracts	7,000,000
Total Liabilities	320,000,000	312,000,000
Senior Notes [Member]
Senior Debt [Line Items]
Fair value of senior debt	8,960,000,000	8,780,000,000
Level 1 [Member]
Assets, Fair Value Disclosure [Abstract]
Foreign exchange contracts	0	0
Total Assets	0	0
Liabilities, Fair Value Disclosure [Abstract]
Deferred compensation	0	0
Foreign exchange contracts	0
Total Liabilities	0	0
Level 2 [Member]
Assets, Fair Value Disclosure [Abstract]
Foreign exchange contracts	9,000,000	13,000,000
Total Assets	9,000,000	13,000,000
Liabilities, Fair Value Disclosure [Abstract]
Deferred compensation	313,000,000	312,000,000
Foreign exchange contracts	7,000,000
Total Liabilities	320,000,000	312,000,000
Level 3 [Member]
Assets, Fair Value Disclosure [Abstract]
Foreign exchange contracts	0	0
Total Assets	0	0
Liabilities, Fair Value Disclosure [Abstract]
Deferred compensation	0	0
Foreign exchange contracts	0
Total Liabilities	$ 0	$ 0

Financial Instruments and Fai44

Financial Instruments and Fair Value Measurements Additional Disclosures (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Interest rate swaps [Member]
Derivatives [Line Items]
Gain (loss) on designated interest rate swaps	$ 0	$ 2
Foreign exchange contracts [Member]
Derivatives [Line Items]
Gain (loss) on non-designated foreign exchange contract	(6)	$ 13
Foreign exchange contracts [Member] | Cash Flow Hedging [Member]
Derivatives [Line Items]
Notional amount of derivative	$ 340		$ 291

Reportable Segments (Details)

Reportable Segments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Segment Reporting [Abstract]
Interest expense	$ (100)	$ (93)
Interest income	7	5
Other items, net	(3)	(23)
Earnings before income taxes and equity in loss of investee companies	725	610
Provision for income taxes	(231)	(203)
Equity in loss of investee companies, net of tax	(21)	(13)
Net earnings (loss)	473	394
Reportable Segments [Line Items]
Revenues	3,849	3,500
Operating income (loss)	821	721
Other operating items, net	9	19
Depreciation and amortization	64	68
Stock-based compensation	43	46
Capital expenditures	38	17
Assets	23,501		$ 23,765
Operating Segments [Member]
Reportable Segments [Line Items]
Operating income (loss)	812	702
Operating Segments [Member] | Entertainment Segment [Member]
Reportable Segments [Line Items]
Revenues	2,587	2,261
Operating income (loss)	449	346
Depreciation and amortization	30	32
Stock-based compensation	15	16
Capital expenditures	13	8
Assets	10,888		10,910
Operating Segments [Member] | Cable Networks Segment [Member]
Reportable Segments [Line Items]
Revenues	525	539
Operating income (loss)	228	251
Depreciation and amortization	6	6
Stock-based compensation	3	3
Capital expenditures	2	1
Assets	2,405		2,369
Operating Segments [Member] | Publishing Segment [Member]
Reportable Segments [Line Items]
Revenues	145	145
Operating income (loss)	13	12
Depreciation and amortization	1	1
Stock-based compensation	1	1
Capital expenditures	3	0
Assets	809		880
Operating Segments [Member] | Local Broadcasting Segment [Member]
Reportable Segments [Line Items]
Revenues	649	596
Operating income (loss)	206	161
Depreciation and amortization	19	21
Stock-based compensation	7	7
Capital expenditures	11	7
Assets	9,013		9,105
Corporate [Member]
Reportable Segments [Line Items]
Operating income (loss)	(84)	(68)
Depreciation and amortization	8	8
Stock-based compensation	17	19
Capital expenditures	9	1
Assets	361		476
Corporate and Eliminations [Member]
Reportable Segments [Line Items]
Revenues	(57)	(41)
Intersegment Eliminations [Member]
Reportable Segments [Line Items]
Revenues	(64)	(43)
Intersegment Eliminations [Member] | Entertainment Segment [Member]
Reportable Segments [Line Items]
Revenues	(61)	(40)
Intersegment Eliminations [Member] | Local Broadcasting Segment [Member]
Reportable Segments [Line Items]
Revenues	(3)	(3)
Discontinued Operations [Member]
Reportable Segments [Line Items]
Assets	25		$ 25
Segment Reconciling Items [Member]
Reportable Segments [Line Items]
Other operating items, net	$ 9	$ 19

Condensed Consolidating Finan46

Condensed Consolidating Financial Statements (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Condensed Consolidating Statement Of Operations [Abstract]
Revenues	$ 3,849,000,000	$ 3,500,000,000
Cost and expenses:
Operating	2,356,000,000	2,142,000,000
Selling, general and administrative	617,000,000	588,000,000
Depreciation and amortization	64,000,000	68,000,000
Other operating items, net	(9,000,000)	(19,000,000)
Total costs and expenses	3,028,000,000	2,779,000,000
Operating income (loss)	821,000,000	721,000,000
Interest (expense) income, net	(93,000,000)	(88,000,000)
Other items, net	(3,000,000)	(23,000,000)
Earnings before income taxes and equity in loss of investee companies	725,000,000	610,000,000
Benefit (provision) for income taxes	(231,000,000)	(203,000,000)
Equity in earnings (loss) of investee companies, net of tax	(21,000,000)	(13,000,000)
Net earnings (loss)	473,000,000	394,000,000
Total comprehensive income	484,000,000	400,000,000
Assets [Abstract]
Cash and cash equivalents	411,000,000	331,000,000	$ 323,000,000	$ 428,000,000
Receivables, net	3,678,000,000		3,628,000,000
Programming and other inventory (Note 3)	822,000,000		1,271,000,000
Prepaid expenses and other current assets	623,000,000		525,000,000
Total current assets	5,534,000,000		5,747,000,000
Property and equipment	3,248,000,000		3,243,000,000
Less accumulated depreciation and amortization	1,872,000,000		1,838,000,000
Net property and equipment	1,376,000,000		1,405,000,000
Programming and other inventory (Note 3)	2,023,000,000		1,957,000,000
Goodwill	6,533,000,000		6,481,000,000
Intangible assets	5,509,000,000		5,514,000,000
Investments in consolidated subsidiaries	0		0
Other assets	2,526,000,000		2,661,000,000
Intercompany	0		0
Total Assets	23,501,000,000		23,765,000,000
Liabilities and Stockholders' Equity [Abstract]
Accounts payable	196,000,000		192,000,000
Participants' share and royalties payable	987,000,000		1,013,000,000
Program rights	520,000,000		374,000,000
Current portion of long-term debt (Note 5)	23,000,000		222,000,000
Accrued expenses and other current liabilities	1,658,000,000		1,759,000,000
Total current liabilities	3,384,000,000		3,560,000,000
Long-term debt (Note 5)	8,226,000,000		8,226,000,000
Other liabilities	6,408,000,000		6,416,000,000
Intercompany	0		0
Stockholders' Equity [Abstract]
Preferred stock	0		0
Common stock	1,000,000		1,000,000
Additional paid-in capital	43,990,000,000		44,055,000,000
Retained earnings (deficit)	(20,045,000,000)		(20,518,000,000)
Accumulated other comprehensive income (loss)	(759,000,000)	(729,000,000)	(770,000,000)	(735,000,000)
Stockholders' equity including treasury stock	23,187,000,000		22,768,000,000
Less treasury stock, at cost	17,704,000,000		17,205,000,000
Total Stockholders' Equity	5,483,000,000		5,563,000,000
Total Liabilities and Stockholders' Equity	23,501,000,000		23,765,000,000
Condensed Consolidating Statement Of Cash Flows [Abstract]
Net cash flow provided by (used for) operating activities	1,028,000,000	417,000,000
Investing Activities
Acquisitions	(50,000,000)	(1,000,000)
Capital expenditures	(38,000,000)	(17,000,000)
Investments in and advances to investee companies	(32,000,000)	(39,000,000)
Proceeds from dispositions	29,000,000	59,000,000
Other investing activities	(7,000,000)	3,000,000
Net cash flow provided by (used for) investing activities from continuing operations	(98,000,000)	5,000,000
Net cash flow provided by (used for) investing activities from discontinued operations	0	(3,000,000)
Net cash flow provided by (used for) investing activities	(98,000,000)	2,000,000
Financing Activities
Repayments of short-term debt borrowings, net	0	(616,000,000)
Proceeds from issuance of senior notes	0	1,178,000,000
Repayment of senior debentures	(200,000,000)	0
Payment of capital lease obligations	(4,000,000)	(4,000,000)
Dividends	(73,000,000)	(80,000,000)
Purchase of Company common stock	(533,000,000)	(1,049,000,000)
Payment of payroll taxes in lieu of issuing shares for stock-based compensation	(46,000,000)	(82,000,000)
Proceeds from exercise of stock options	6,000,000	80,000,000
Excess tax benefit from stock-based compensation	8,000,000	57,000,000
Increase (decrease) in intercompany payables	0	0
Net cash flow provided by (used for) financing activities	(842,000,000)	(516,000,000)
Cash and cash equivalents	411,000,000	331,000,000	323,000,000	428,000,000
Net increase (decrease) in cash and cash equivalents	88,000,000	(97,000,000)
Eliminations [Member]
Condensed Consolidating Statement Of Operations [Abstract]
Revenues	0	0
Cost and expenses:
Operating	0	0
Selling, general and administrative	0	0
Depreciation and amortization	0	0
Other operating items, net	0	0
Total costs and expenses	0	0
Operating income (loss)	0	0
Interest (expense) income, net	0	0
Other items, net	0	0
Earnings before income taxes and equity in loss of investee companies	0	0
Benefit (provision) for income taxes	0	0
Equity in earnings (loss) of investee companies, net of tax	(813,000,000)	(786,000,000)
Net earnings (loss)	(813,000,000)	(786,000,000)
Total comprehensive income	(819,000,000)	(800,000,000)
Assets [Abstract]
Cash and cash equivalents	0	0	0	0
Receivables, net	0		0
Programming and other inventory (Note 3)	0		0
Prepaid expenses and other current assets	(29,000,000)		(30,000,000)
Total current assets	(29,000,000)		(30,000,000)
Property and equipment	0		0
Less accumulated depreciation and amortization	0		0
Net property and equipment	0		0
Programming and other inventory (Note 3)	0		0
Goodwill	0		0
Intangible assets	0		0
Investments in consolidated subsidiaries	(56,338,000,000)		(55,519,000,000)
Other assets	0		0
Intercompany	(26,947,000,000)		(26,236,000,000)
Total Assets	(83,314,000,000)		(81,785,000,000)
Liabilities and Stockholders' Equity [Abstract]
Accounts payable	0		0
Participants' share and royalties payable	0		0
Program rights	0		0
Current portion of long-term debt (Note 5)	0		0
Accrued expenses and other current liabilities	(29,000,000)		(30,000,000)
Total current liabilities	(29,000,000)		(30,000,000)
Long-term debt (Note 5)	0		0
Other liabilities	0		0
Intercompany	(26,947,000,000)		(26,236,000,000)
Stockholders' Equity [Abstract]
Preferred stock	(126,000,000)		(126,000,000)
Common stock	(713,000,000)		(713,000,000)
Additional paid-in capital	(60,894,000,000)		(60,894,000,000)
Retained earnings (deficit)	355,000,000		1,168,000,000
Accumulated other comprehensive income (loss)	(91,000,000)		(85,000,000)
Stockholders' equity including treasury stock	(61,469,000,000)		(60,650,000,000)
Less treasury stock, at cost	(5,131,000,000)		(5,131,000,000)
Total Stockholders' Equity	(56,338,000,000)		(55,519,000,000)
Total Liabilities and Stockholders' Equity	(83,314,000,000)		(81,785,000,000)
Condensed Consolidating Statement Of Cash Flows [Abstract]
Net cash flow provided by (used for) operating activities	0	0
Investing Activities
Acquisitions	0	0
Capital expenditures	0	0
Investments in and advances to investee companies	0	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
Net cash flow provided by (used for) investing activities	0	0
Financing Activities
Repayments of short-term debt borrowings, net		0
Proceeds from issuance of senior notes		0
Repayment of senior debentures	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	0	0
Cash and cash equivalents	0	0	0	0
Net increase (decrease) in cash and cash equivalents	0	0
CBS Corp. [Member]
Condensed Consolidating Statement Of Operations [Abstract]
Revenues	47,000,000	31,000,000
Cost and expenses:
Operating	17,000,000	16,000,000
Selling, general and administrative	21,000,000	12,000,000
Depreciation and amortization	1,000,000	1,000,000
Other operating items, net	0	0
Total costs and expenses	39,000,000	29,000,000
Operating income (loss)	8,000,000	2,000,000
Interest (expense) income, net	(124,000,000)	(115,000,000)
Other items, net	(1,000,000)	(1,000,000)
Earnings before income taxes and equity in loss of investee companies	(117,000,000)	(114,000,000)
Benefit (provision) for income taxes	37,000,000	37,000,000
Equity in earnings (loss) of investee companies, net of tax	553,000,000	471,000,000
Net earnings (loss)	473,000,000	394,000,000
Total comprehensive income	484,000,000	400,000,000
Assets [Abstract]
Cash and cash equivalents	170,000,000	163,000,000	267,000,000	63,000,000
Receivables, net	25,000,000		28,000,000
Programming and other inventory (Note 3)	4,000,000		3,000,000
Prepaid expenses and other current assets	30,000,000		192,000,000
Total current assets	229,000,000		490,000,000
Property and equipment	45,000,000		46,000,000
Less accumulated depreciation and amortization	22,000,000		20,000,000
Net property and equipment	23,000,000		26,000,000
Programming and other inventory (Note 3)	5,000,000		6,000,000
Goodwill	98,000,000		98,000,000
Intangible assets	0		0
Investments in consolidated subsidiaries	43,302,000,000		42,744,000,000
Other assets	159,000,000		163,000,000
Intercompany	0		0
Total Assets	43,816,000,000		43,527,000,000
Liabilities and Stockholders' Equity [Abstract]
Accounts payable	1,000,000		1,000,000
Participants' share and royalties payable	0		0
Program rights	3,000,000		4,000,000
Current portion of long-term debt (Note 5)	7,000,000		206,000,000
Accrued expenses and other current liabilities	332,000,000		418,000,000
Total current liabilities	343,000,000		629,000,000
Long-term debt (Note 5)	8,113,000,000		8,113,000,000
Other liabilities	2,930,000,000		2,986,000,000
Intercompany	26,947,000,000		26,236,000,000
Stockholders' Equity [Abstract]
Preferred stock	0		0
Common stock	1,000,000		1,000,000
Additional paid-in capital	43,990,000,000		44,055,000,000
Retained earnings (deficit)	(20,045,000,000)		(20,518,000,000)
Accumulated other comprehensive income (loss)	(759,000,000)		(770,000,000)
Stockholders' equity including treasury stock	23,187,000,000		22,768,000,000
Less treasury stock, at cost	17,704,000,000		17,205,000,000
Total Stockholders' Equity	5,483,000,000		5,563,000,000
Total Liabilities and Stockholders' Equity	43,816,000,000		43,527,000,000
Condensed Consolidating Statement Of Cash Flows [Abstract]
Net cash flow provided by (used for) operating activities	(157,000,000)	(117,000,000)
Investing Activities
Acquisitions	0	0
Capital expenditures	0	0
Investments in and advances to investee companies	0	0
Proceeds from dispositions	(2,000,000)	0
Other investing activities	(7,000,000)	3,000,000
Net cash flow provided by (used for) investing activities from continuing operations	(9,000,000)	3,000,000
Net cash flow provided by (used for) investing activities from discontinued operations		(3,000,000)
Net cash flow provided by (used for) investing activities	(9,000,000)	0
Financing Activities
Repayments of short-term debt borrowings, net		(616,000,000)
Proceeds from issuance of senior notes		1,178,000,000
Repayment of senior debentures	(200,000,000)
Payment of capital lease obligations	0	0
Dividends	(73,000,000)	(80,000,000)
Purchase of Company common stock	(533,000,000)	(1,049,000,000)
Payment of payroll taxes in lieu of issuing shares for stock-based compensation	(46,000,000)	(82,000,000)
Proceeds from exercise of stock options	6,000,000	80,000,000
Excess tax benefit from stock-based compensation	8,000,000	57,000,000
Increase (decrease) in intercompany payables	907,000,000	729,000,000
Net cash flow provided by (used for) financing activities	69,000,000	217,000,000
Cash and cash equivalents	170,000,000	163,000,000	267,000,000	63,000,000
Net increase (decrease) in cash and cash equivalents	(97,000,000)	100,000,000
CBS Operations Inc. [Member]
Condensed Consolidating Statement Of Operations [Abstract]
Revenues	3,000,000	3,000,000
Cost and expenses:
Operating	1,000,000	1,000,000
Selling, general and administrative	66,000,000	61,000,000
Depreciation and amortization	5,000,000	5,000,000
Other operating items, net	0	0
Total costs and expenses	72,000,000	67,000,000
Operating income (loss)	(69,000,000)	(64,000,000)
Interest (expense) income, net	(104,000,000)	(98,000,000)
Other items, net	(10,000,000)	11,000,000
Earnings before income taxes and equity in loss of investee companies	(183,000,000)	(151,000,000)
Benefit (provision) for income taxes	59,000,000	49,000,000
Equity in earnings (loss) of investee companies, net of tax	260,000,000	315,000,000
Net earnings (loss)	136,000,000	213,000,000
Total comprehensive income	140,000,000	220,000,000
Assets [Abstract]
Cash and cash equivalents	1,000,000	1,000,000	1,000,000	1,000,000
Receivables, net	2,000,000		2,000,000
Programming and other inventory (Note 3)	3,000,000		3,000,000
Prepaid expenses and other current assets	23,000,000		26,000,000
Total current assets	29,000,000		32,000,000
Property and equipment	181,000,000		180,000,000
Less accumulated depreciation and amortization	123,000,000		118,000,000
Net property and equipment	58,000,000		62,000,000
Programming and other inventory (Note 3)	8,000,000		9,000,000
Goodwill	62,000,000		62,000,000
Intangible assets	0		0
Investments in consolidated subsidiaries	13,036,000,000		12,775,000,000
Other assets	12,000,000		11,000,000
Intercompany	2,100,000,000		2,248,000,000
Total Assets	15,305,000,000		15,199,000,000
Liabilities and Stockholders' Equity [Abstract]
Accounts payable	3,000,000		4,000,000
Participants' share and royalties payable	0		0
Program rights	4,000,000		4,000,000
Current portion of long-term debt (Note 5)	0		0
Accrued expenses and other current liabilities	201,000,000		230,000,000
Total current liabilities	208,000,000		238,000,000
Long-term debt (Note 5)	0		0
Other liabilities	248,000,000		252,000,000
Intercompany	0		0
Stockholders' Equity [Abstract]
Preferred stock	0		0
Common stock	123,000,000		123,000,000
Additional paid-in capital	0		0
Retained earnings (deficit)	15,049,000,000		14,913,000,000
Accumulated other comprehensive income (loss)	8,000,000		4,000,000
Stockholders' equity including treasury stock	15,180,000,000		15,040,000,000
Less treasury stock, at cost	331,000,000		331,000,000
Total Stockholders' Equity	14,849,000,000		14,709,000,000
Total Liabilities and Stockholders' Equity	15,305,000,000		15,199,000,000
Condensed Consolidating Statement Of Cash Flows [Abstract]
Net cash flow provided by (used for) operating activities	(103,000,000)	(137,000,000)
Investing Activities
Acquisitions	0	0
Capital expenditures	(9,000,000)	(1,000,000)
Investments in and advances to investee companies	0	0
Proceeds from dispositions	0	0
Other investing activities	0	0
Net cash flow provided by (used for) investing activities from continuing operations	(9,000,000)	(1,000,000)
Net cash flow provided by (used for) investing activities from discontinued operations		0
Net cash flow provided by (used for) investing activities	(9,000,000)	(1,000,000)
Financing Activities
Repayments of short-term debt borrowings, net		0
Proceeds from issuance of senior notes		0
Repayment of senior debentures	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	112,000,000	138,000,000
Net cash flow provided by (used for) financing activities	112,000,000	138,000,000
Cash and cash equivalents	1,000,000	1,000,000	1,000,000	1,000,000
Net increase (decrease) in cash and cash equivalents	0	0
Non-Guarantor Affiliates [Member]
Condensed Consolidating Statement Of Operations [Abstract]
Revenues	3,799,000,000	3,466,000,000
Cost and expenses:
Operating	2,338,000,000	2,125,000,000
Selling, general and administrative	530,000,000	515,000,000
Depreciation and amortization	58,000,000	62,000,000
Other operating items, net	(9,000,000)	(19,000,000)
Total costs and expenses	2,917,000,000	2,683,000,000
Operating income (loss)	882,000,000	783,000,000
Interest (expense) income, net	135,000,000	125,000,000
Other items, net	8,000,000	(33,000,000)
Earnings before income taxes and equity in loss of investee companies	1,025,000,000	875,000,000
Benefit (provision) for income taxes	(327,000,000)	(289,000,000)
Equity in earnings (loss) of investee companies, net of tax	(21,000,000)	(13,000,000)
Net earnings (loss)	677,000,000	573,000,000
Total comprehensive income	679,000,000	580,000,000
Assets [Abstract]
Cash and cash equivalents	240,000,000	167,000,000	55,000,000	364,000,000
Receivables, net	3,651,000,000		3,598,000,000
Programming and other inventory (Note 3)	815,000,000		1,265,000,000
Prepaid expenses and other current assets	599,000,000		337,000,000
Total current assets	5,305,000,000		5,255,000,000
Property and equipment	3,022,000,000		3,017,000,000
Less accumulated depreciation and amortization	1,727,000,000		1,700,000,000
Net property and equipment	1,295,000,000		1,317,000,000
Programming and other inventory (Note 3)	2,010,000,000		1,942,000,000
Goodwill	6,373,000,000		6,321,000,000
Intangible assets	5,509,000,000		5,514,000,000
Investments in consolidated subsidiaries	0		0
Other assets	2,355,000,000		2,487,000,000
Intercompany	24,847,000,000		23,988,000,000
Total Assets	47,694,000,000		46,824,000,000
Liabilities and Stockholders' Equity [Abstract]
Accounts payable	192,000,000		187,000,000
Participants' share and royalties payable	987,000,000		1,013,000,000
Program rights	513,000,000		366,000,000
Current portion of long-term debt (Note 5)	16,000,000		16,000,000
Accrued expenses and other current liabilities	1,154,000,000		1,141,000,000
Total current liabilities	2,862,000,000		2,723,000,000
Long-term debt (Note 5)	113,000,000		113,000,000
Other liabilities	3,230,000,000		3,178,000,000
Intercompany	0		0
Stockholders' Equity [Abstract]
Preferred stock	126,000,000		126,000,000
Common stock	590,000,000		590,000,000
Additional paid-in capital	60,894,000,000		60,894,000,000
Retained earnings (deficit)	(15,404,000,000)		(16,081,000,000)
Accumulated other comprehensive income (loss)	83,000,000		81,000,000
Stockholders' equity including treasury stock	46,289,000,000		45,610,000,000
Less treasury stock, at cost	4,800,000,000		4,800,000,000
Total Stockholders' Equity	41,489,000,000		40,810,000,000
Total Liabilities and Stockholders' Equity	47,694,000,000		46,824,000,000
Condensed Consolidating Statement Of Cash Flows [Abstract]
Net cash flow provided by (used for) operating activities	1,288,000,000	671,000,000
Investing Activities
Acquisitions	(50,000,000)	(1,000,000)
Capital expenditures	(29,000,000)	(16,000,000)
Investments in and advances to investee companies	(32,000,000)	(39,000,000)
Proceeds from dispositions	31,000,000	59,000,000
Other investing activities	0	0
Net cash flow provided by (used for) investing activities from continuing operations	(80,000,000)	3,000,000
Net cash flow provided by (used for) investing activities from discontinued operations		0
Net cash flow provided by (used for) investing activities	(80,000,000)	3,000,000
Financing Activities
Repayments of short-term debt borrowings, net		0
Proceeds from issuance of senior notes		0
Repayment of senior debentures	0
Payment of capital lease obligations	(4,000,000)	(4,000,000)
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	(1,019,000,000)	(867,000,000)
Net cash flow provided by (used for) financing activities	(1,023,000,000)	(871,000,000)
Cash and cash equivalents	240,000,000	167,000,000	$ 55,000,000	$ 364,000,000
Net increase (decrease) in cash and cash equivalents	$ 185,000,000	$ (197,000,000)