Paramount Global (PARA) 10-Q 2 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Jul. 31, 2018
Document Information [Line Items]
Entity Registrant Name	CBS Corporation
Entity Central Index Key	813,828
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Common Class A [Member]
Document Information [Line Items]
Shares of common stock outstanding		37,507,609
Common Class B [Member]
Document Information [Line Items]
Shares of common stock outstanding		338,524,891

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Statement [Abstract]
Revenues	$ 3,466	$ 3,257	$ 7,227	$ 6,600
Costs and expenses:
Operating	2,184	2,004	4,584	4,078
Selling, general and administrative	532	507	1,056	995
Depreciation and amortization	56	56	112	111
Restructuring and other corporate matters	35	0	44	0
Total costs and expenses	2,807	2,567	5,796	5,184
Operating income (loss)	659	690	1,431	1,416
Interest expense	(116)	(111)	(234)	(220)
Interest income	14	15	31	28
Other items, net	(24)	(16)	(35)	(37)
Earnings (loss) before income taxes and equity in earnings (loss) of investee companies	533	578	1,193	1,187
Provision for income taxes	(113)	(169)	(248)	(307)
Equity in loss of investee companies, net of tax	(20)	(12)	(34)	(29)
Net earnings from continuing operations	400	397	911	851
Net loss from discontinued operations, net of tax	0	(339)	0	(1,045)
Net earnings (loss)	$ 400	$ 58	$ 911	$ (194)
Basic net earnings (loss) per common share:
Basic net earnings from continuing operations (in dollars per share)	$ 1.06	$ 0.98	$ 2.40	$ 2.09
Basic net loss from discontinued operations (in dollars per share)	0	(0.84)	0	(2.57)
Basic net earnings (loss) (in dollars per share)	1.06	0.14	2.40	(0.48)
Diluted net earnings (loss) per common share:
Diluted net earnings from continuing operations (in dollars per share)	1.05	0.97	2.38	2.06
Diluted net loss from discontinued operations (in dollars per share)	0	(0.83)	0	(2.53)
Diluted net earnings (loss) (in dollars per share)	$ 1.05	$ 0.14	$ 2.38	$ (0.47)
Weighted average number of common shares outstanding:
Basic (in shares)	378	405	380	407
Diluted (in shares)	381	410	383	413
Dividends per common share (in dollars per share)	$ 0.18	$ 0.18	$ 0.36	$ 0.36

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$ 400	$ 58	$ 911	$ (194)
Other comprehensive income, net of tax:
Cumulative translation adjustments	(8)	0	(14)	2
Amortization of net actuarial loss	15	12	30	24
Total other comprehensive income, net of tax	7	12	16	26
Total comprehensive income (loss)	$ 407	$ 70	$ 927	$ (168)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Current Assets:
Cash and cash equivalents	$ 252	$ 285
Receivables, less allowances of $50 (2018) and $49 (2017)	3,597	3,697
Programming and other inventory	1,876	1,828
Prepaid income taxes	0	78
Prepaid expenses	117	194
Other current assets	206	191
Total current assets	6,048	6,273
Property and equipment	2,984	3,051
Less accumulated depreciation and amortization	1,747	1,771
Net property and equipment	1,237	1,280
Programming and other inventory	3,197	2,881
Goodwill	4,921	4,891
Intangible assets	2,655	2,666
Other assets	2,327	2,852
Total Assets	20,385	20,843
Current Liabilities:
Accounts payable	138	231
Accrued compensation	225	343
Participants’ share and royalties payable	1,071	986
Program rights	369	373
Income taxes payable	129	0
Commercial paper	370	679
Current portion of long-term debt	16	19
Accrued expenses and other current liabilities	1,466	1,341
Total current liabilities	3,784	3,972
Long-term debt	9,464	9,464
Pension and postretirement benefit obligations	1,289	1,328
Deferred income tax liabilities, net	454	480
Other liabilities	3,227	3,621
Commitments and contingencies
Stockholders’ Equity:
Common stock	1	1
Additional paid-in capital	43,720	43,797
Accumulated deficit	(18,250)	(18,900)
Accumulated other comprehensive income (loss)	(646)	(662)
Stockholders' equity including treasury stock	24,825	24,236
Less treasury stock, at cost; 496 (2018) and 489 (2017) Class B shares	22,658	22,258
Total Stockholders’ Equity	2,167	1,978
Total Liabilities and Stockholders’ Equity	20,385	20,843
Common Class A [Member]
Stockholders’ Equity:
Common stock	0	0
Common Class B [Member]
Stockholders’ Equity:
Common stock	$ 1	$ 1

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Allowance for receivables	$ 50	$ 49
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 (in shares)	375,000,000	375,000,000
Common stock, shares issued (in shares)	38,000,000	38,000,000
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 (in shares)	5,000,000,000	5,000,000,000
Common stock, shares issued (in shares)	835,000,000	834,000,000
Treasury stock, at cost, Class B shares (in shares)	496,000,000	489,000,000

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Operating Activities:
Net earnings (loss)	$ 911	$ (194)
Less: Net loss from discontinued operations, net of tax	0	(1,045)
Net earnings from continuing operations	911	851
Adjustments to reconcile net earnings from continuing operations to net cash flow provided by operating activities from continuing operations:
Depreciation and amortization	112	111
Stock-based compensation	91	85
Equity in loss of investee companies, net of tax and distributions	34	29
Change in assets and liabilities, net of investing and financing activities	(103)	(167)
Net cash flow provided by operating activities from continuing operations	1,045	909
Net cash flow (used for) provided by operating activities from discontinued operations	(2)	29
Net cash flow provided by operating activities	1,043	938
Investing Activities:
Investments in and advances to investee companies	(71)	(65)
Capital expenditures	(62)	(68)
Acquisitions	(29)	(21)
Other investing activities	2	15
Net cash flow used for investing activities from continuing operations	(160)	(139)
Net cash flow used for investing activities from discontinued operations	(23)	(13)
Net cash flow used for investing activities	(183)	(152)
Financing Activities:
Repayments of short-term debt borrowings, net	(309)	(187)
Proceeds from debt borrowings of CBS Radio	0	24
Repayment of debt borrowings of CBS Radio	0	(5)
Payment of capital lease obligations	(8)	(8)
Payment of contingent consideration	(5)	(7)
Dividends	(140)	(151)
Purchase of Company common stock	(394)	(845)
Payment of payroll taxes in lieu of issuing shares for stock-based compensation	(58)	(89)
Proceeds from exercise of stock options	22	39
Other financing activities	(1)	0
Net cash flow (used for) provided by financing activities	(893)	(1,229)
Net decrease in cash and cash equivalents	(33)	(443)
Cash and cash equivalents at beginning of period (includes $24 (2017) of discontinued operations cash)	285	622
Cash and cash equivalents at end of period (includes $9 (2017) of discontinued operations cash)	252	179
Continuing Operations [Member]
Supplemental disclosure of cash flow information
Cash paid for interest	231	217
Cash paid for income taxes	31	272
Discontinued Operations [Member]
Supplemental disclosure of cash flow information
Cash paid for interest	0	39
Cash paid for income taxes	$ 0	$ 46

Consolidated Statements of Cas7

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2017	Dec. 31, 2016
Statement of Cash Flows [Abstract]
Cash and cash equivalents of discontinued operations	$ 9	$ 24

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2018
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, CBS Studios International, and CBS Television Distribution; Network Ten; CBS Interactive; and CBS Films), Cable Networks (Showtime Networks, CBS Sports Network and Smithsonian Networks), Publishing (Simon & Schuster) and Local Media (CBS Television Stations and CBS Local Digital Media). Discontinued Operations -On November 16, 2017, the Company completed the disposition of CBS Radio Inc. (“CBS Radio”) through a split-off. CBS Radio has been presented as a discontinued operation in the Company’s consolidated financial statements (See Note 13 ). 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 (“SEC”). 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, 2017 . 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 (“GAAP”) requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts 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. Revenues Advertising Revenues- Advertising revenues, net of agency commissions, are recognized when the advertising spots are aired on television or displayed on digital platforms. If there is a guarantee to deliver a targeted audience rating or number of impressions, revenues are recognized as the actual audience rating or impressions are delivered. Audience ratings and impressions are determined based on data provided by independent third-party companies. Advertising contracts, which are generally short-term, are billed monthly, with payments due shortly after the invoice date. Advertising revenues are primarily generated by the Entertainment and Local Media segments. Content Licensing and Distribution Revenues- Content licensing and distribution revenues are generated from the licensing of internally-produced television programming, fees from the distribution of third-party programming, and the publishing and distribution of consumer books. Program Licensing and Distribution Revenues from the licensing of internally-produced television programming are recognized when the content is made available to the licensee for exhibition and the license period has begun. For license agreements containing multiple deliverables, revenues are allocated based on the relative standalone selling price of each program. Agreements to license programming are often long term, with collection terms ranging from one to five years. The Company also distributes programs on behalf of third parties. In such arrangements, the Company generally obtains control of the program before selling it to the customer. Therefore, revenues from such distribution arrangements, which include both content licensing and advertising revenues, are recognized based on the gross amount of consideration received from the customer, with a participation expense recognized for the fees paid to the third-party producer. Substantially all of the Company’s program licensing and distribution revenues are generated by the Entertainment segment, with the remainder generated by the Cable Networks segment. Publishing Publishing revenues are recognized when merchandise is shipped or electronically delivered to the consumer. Consumer print books are generally sold with a right of return. The Company records a returns reserve and corresponding decrease in revenue at the time of sale based upon historical trends. For publishing revenues, payments are due shortly after shipment or electronic delivery. Affiliate and Subscription Fees- A majority of the Company’s affiliate and subscription fees are generated by the Cable Networks segment and consist of fees received from multichannel video programming distributors (“MVPDs”) for carriage of the Company’s cable networks and subscription fees for the Showtime digital streaming subscription offering. The Entertainment segment generates affiliate and subscription fees primarily from television stations affiliated with the CBS Television Network and subscribers to C BS All Access , its owned streaming subscription service. In addition, the Local Media segment generates retransmission fees from MVPDs for carriage of the Company’s television stations. Affiliate and subscription fees are recognized as access to the Company’s content is provided to the customer over the term of the agreement. For agreements that provide for a variable fee, revenues are determined each month based on an agreed upon contractual rate applied to the number of subscribers to the customer’s service. For agreements that provide for a fixed fee, revenues are recognized based on the relative fair value provided over the term of the agreement. For affiliate and subscription fee revenues, payments are generally due monthly. Noncurrent Receivables- Noncurrent receivables of $1.54 billion and $1.59 billion at June 30, 2018 and January 1, 2018 , respectively, are included in “Other assets” on the Company’s Consolidated Balance Sheets and primarily relate to revenues recognized under long-term television licensing arrangements. Deferred Revenues- Deferred revenues primarily consist of cash received related to advertising arrangements and the licensing of television programming for which the revenues have not yet been earned. Advertising revenues that have been deferred are recognized when the required audience rating or impressions are delivered and revenues deferred under licensing arrangements are recognized when the content is made available to the customer. Deferred revenues are primarily short term and included within “Accrued expenses and other current liabilities” on the Company’s Consolidated Balance Sheets. Total deferred revenues were $210 million and $284 million at June 30, 2018 and January 1, 2018 , respectively. The change in deferred revenue for the six months ended June 30, 2018 reflects $167 million of revenues recognized that were included in deferred revenues at January 1, 2018 , offset by cash payments received during the period for which the performance obligation was not satisfied prior to the end of the period. Unrecognized Revenues Under Contract- As of June 30, 2018 , unrecognized revenue attributable to unsatisfied performance obligations under the Company’s long-term contracts was $3.60 billion , of which $1.01 billion is expected to be recognized for the remainder of 2018, $1.40 billion for 2019, $738 million for 2020, and $442 million thereafter. These amounts only include contracts subject to a guaranteed fixed amount or the guaranteed minimum under variable contracts. Such amounts change on a regular basis as the Company renews existing agreements or enters into new agreements. Unrecognized revenues under contract disclosed above do not include (i) contracts with an original expected term of one year or less, mainly consisting of the Company’s advertising contracts (ii) contracts for which variable consideration is determined based on the customer’s subsequent sale or usage, mainly consisting of affiliate and subscription fee agreements and (iii) long-term licensing agreements for multiple programs for which the Company’s right to invoice corresponds with the value of the programs provided to the customer. Net Earnings (Loss) per Common Share -Basic net earnings (loss) per share (“EPS”) is based upon net earnings (loss) divided by the weighted average number of common shares outstanding during the period. Diluted EPS reflects the effect of the assumed exercise of stock options and vesting of restricted stock units (“RSUs”) and market-based performance share units (“PSUs”) only in the periods in which such effect would have been dilutive. Excluded from the calculation of diluted EPS because their inclusion would have been anti-dilutive, were 8 million stock options and RSUs for each of the three and six months ended June 30, 2018 and 4 million stock options for each of the three and six months ended June 30, 2017 . The table below presents a reconciliation of weighted average shares used in the calculation of basic and diluted EPS. Three Months Ended Six Months Ended June 30, June 30, (in millions) 2018 2017 2018 2017 Weighted average shares for basic EPS 378 405 380 407 Dilutive effect of shares issuable under stock-based compensation plans 3 5 3 6 Weighted average shares for diluted EPS 381 410 383 413 Other Liabilities -Other liabilities consist primarily of the noncurrent portion of residual liabilities of previously disposed businesses, participants’ share and royalties payable, program rights obligations, deferred compensation and other employee benefit accruals. Additional Paid-In Capital -For the six months ended June 30, 2018 and 2017 , the Company recorded dividends of $138 million and $148 million , respectively, as a reduction to additional paid-in capital as the Company had an accumulated deficit balance. Recently Adopted Accounting Pronouncements Revenue from Contracts with Customers During the first quarter of 2018 , the Company adopted Financial Accounting Standards Board (“FASB”) 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 applied the modified retrospective method of adoption with the cumulative effect of the initial adoption of $261 million reflected as an adjustment to the opening balance of accumulated deficit as of January 1, 2018. Prior periods continue to be presented under previous accounting guidance (See Note 12 ). Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost During the first quarter of 2018 , the Company adopted FASB amended guidance on the presentation of net periodic pension and postretirement benefit cost (“net benefit cost”). This guidance requires the Company to present the service cost component of net benefit cost in the same line item(s) on the statement of operations as other compensation costs of the related employees. All of the other components of net benefit cost are presented in the statement of operations separately from the service cost component and below the subtotal of operating income. As a result of the adoption of this guidance, the Company presented $16 million and $31 million of net benefit costs in “Other items, net” on the Consolidated Statement of Operations for the three and six months ended June 30, 2018 , respectively, representing the components of net benefit cost other than service cost. This guidance is required to be applied retrospectively and therefore, $21 million and $43 million of expenses, previously presented within operating income, have been reclassified to “Other items, net” for the three and six months ended June 30, 2017 , respectively. Stock Compensation: Scope of Modification Accounting During the first quarter of 2018 , the Company adopted FASB amended guidance on the accounting for stock-based compensation which clarifies when to account for a change to the terms or conditions of a share-based payment award as a modification. Under this guidance, modification accounting is required only if the fair value, the vesting conditions, or the classification of the award as equity or liability changes as a result of the change in the terms or conditions of a share-based payment award. The adoption of this guidance did not have an impact on the Company’s consolidated financial statements. Clarifying the Definition of a Business During the first quarter of 2018 , the Company adopted FASB amended guidance on the accounting for business combinations which clarifies the definition of a business and assists entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. Under this guidance, when substantially all of the fair value of gross assets acquired is concentrated in a single asset (or group of similar assets), the assets acquired would not represent a business. In addition, in order to be considered a business, an acquisition would have to include at a minimum an input and a substantive process that together significantly contribute to the ability to create an output. The amended guidance also narrows the definition of outputs by more closely aligning it with how outputs are described in FASB guidance for revenue recognition. The adoption of this guidance did not have an impact on the Company’s consolidated financial statements. Intra-Entity Transfers of Assets Other than Inventory During the first quarter of 2018 , the Company adopted FASB amended guidance on the accounting for income taxes, which eliminates the exception in existing guidance that defers the recognition of the tax effects of intra-entity asset transfers other than inventory until the transferred asset is sold to a third party. Under this guidance, an entity recognizes the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. The adoption of this guidance did not have an impact on the Company’s consolidated financial statements. Accounting Pronouncements Not Yet Adopted Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income In February 2018, the FASB issued amended guidance that permits an entity to reclassify the income tax effects of federal tax legislation enacted in December 2017 (the “Tax Reform Act”) on items within accumulated other comprehensive income to retained earnings. The Company is currently evaluating the impact of this guidance, which is effective for interim and annual periods beginning after December 15, 2018, with early adoption permitted. Targeted Improvements to Accounting for Hedging Activities In August 2017, the FASB issued amended guidance for hedge accounting, which expands the eligibility of hedging strategies that qualify for hedge accounting, modifies the recognition and presentation of hedges in the financial statements, and changes how companies assess hedge effectiveness. In addition, this guidance amends and expands disclosure requirements. This guidance, which is effective for interim and annual periods beginning after December 15, 2018, with early adoption permitted, is not expected to have a material impact on the Company’s consolidated financial statements. 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. This guidance is effective for the Company in the first quarter of 2019. The Company is currently reviewing its lease portfolio, evaluating the impact of this guidance on its consolidated balance sheet and assessing system requirements. The Company will apply the modified retrospective method of adoption as of January 1, 2019 and comparative periods will continue to be presented under existing lease guidance.

Stock-based Compensation

Stock-based Compensation	6 Months Ended
	Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based Compensation	2 ) STOCK-BASED COMPENSATION The following table summarizes the Company’s stock-based compensation expense for the three and six months ended June 30, 2018 and 2017 . Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 RSUs and PSUs $ 41 $ 38 $ 79 $ 71 Stock options 6 7 12 14 Stock-based compensation expense, before income taxes 47 45 91 85 Related tax benefit (12 ) (18 ) (23 ) (33 ) Stock-based compensation expense, net of tax benefit $ 35 $ 27 $ 68 $ 52 During the six months ended June 30, 2018 , the Company granted 3 million RSUs for CBS Corp. Class B Common Stock with a weighted average per unit grant-date fair value of $53.95 . RSUs granted during the first six months of 2018 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 six months ended June 30, 2018 , the Company also granted awards of market-based PSUs. The number of shares that will be issued upon vesting of the PSUs is based on the Company’s stock price performance over a designated measurement period, as well as the achievement of established operating goals. The fair value of the PSUs is determined on the grant date using a Monte Carlo simulation model and is expensed over the required employee service period. The fair value of the PSU awards granted during the six months ended June 30, 2018 was $17 million . During the six months ended June 30, 2018 , the Company also granted 2 million stock options with a weighted average exercise price of $54.32 . Stock options granted during the first six months of 2018 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 and PSUs at June 30, 2018 was $278 million , which is expected to be recognized over a weighted average period of 2.5 years . Total unrecognized compensation cost related to unvested stock option awards at June 30, 2018 was $50 million , which is expected to be recognized over a weighted average period of 2.8 years .

Restructuring and Other Corpora

Restructuring and Other Corporate Matters	6 Months Ended
	Jun. 30, 2018
Restructuring Charges [Abstract]
Restructuring and Other Corporate Matters	3 ) RESTRUCTURING AND OTHER CORPORATE MATTERS During the second quarter of 2018 , 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 $25 million , reflecting $17 million of severance costs and $8 million of costs associated with exiting contractual obligations and other related costs. During the year ended December 31, 2017 , the Company recorded restructuring charges of $63 million , reflecting $54 million of severance costs and $9 million of costs associated with exiting contractual obligations and other related costs. During the year ended December 31, 2016 , the Company recorded restructuring charges of $30 million , reflecting $19 million of severance costs and $11 million of costs associated with exiting contractual obligations and other related costs. As of June 30, 2018 , the cumulative settlements for the 2018 , 2017 and 2016 restructuring charges were $48 million , of which $42 million was for severance costs and $6 million was for costs associated with contractual obligations and other related costs. The Company expects to substantially utilize its restructuring reserves by the end of 2019. Balance at 2018 2018 Balance at December 31, 2017 Charges Settlements June 30, 2018 Entertainment $ 45 $ 6 $ (15 ) $ 36 Cable Networks 1 — (1 ) — Publishing 3 1 (1 ) 3 Local Media 14 11 (3 ) 22 Corporate 3 7 (1 ) 9 Total $ 66 $ 25 $ (21 ) $ 70 Balance at 2017 2017 Balance at December 31, 2016 Charges Settlements December 31, 2017 Entertainment $ 17 $ 44 $ (16 ) $ 45 Cable Networks 4 — (3 ) 1 Publishing 1 5 (3 ) 3 Local Media 6 12 (4 ) 14 Corporate 2 2 (1 ) 3 Total $ 30 $ 63 $ (27 ) $ 66 During the three and six months ended June 30, 2018 , the Company recorded expenses of $10 million and $19 million , respectively, primarily for professional fees related to the evaluation of a potential combination with Viacom Inc. and legal proceedings involving the Company and National Amusements, Inc. (“NAI”) (See Note 14 ).

Programming and Other Inventory

Programming and Other Inventory	6 Months Ended
	Jun. 30, 2018
Inventory Disclosure [Abstract]
Programming and Other Inventory	4 ) PROGRAMMING AND OTHER INVENTORY At At June 30, 2018 December 31, 2017 Acquired program rights $ 2,284 $ 2,234 Acquired television library 99 99 Internally produced programming: Released 2,148 1,780 In process and other 483 543 Publishing, primarily finished goods 59 53 Total programming and other inventory 5,073 4,709 Less current portion 1,876 1,828 Total noncurrent programming and other inventory $ 3,197 $ 2,881

Related Parties

Related Parties	6 Months Ended
	Jun. 30, 2018
Related Party Transactions [Abstract]
Related Parties	5 ) RELATED PARTIES 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 CBS Corp. and the Chairman Emeritus of 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. At June 30, 2018 , NAI directly or indirectly owned approximately 79.7% of CBS Corp.’s voting Class A Common Stock, and owned approximately 10.4% of CBS Corp.’s Class A Common Stock and non-voting Class B Common Stock on a combined basis. Although the Company has previously disclosed, after receiving confirmation from NAI, that NAI is controlled by Mr. Redstone through the Sumner M. Redstone National Amusements Trust (the “SMR Trust”), in connection with this report, NAI declined the Company’s requests to confirm that NAI is currently controlled by Mr. Redstone through the SMR Trust. NAI continues to confirm that the SMR Trust owns 80% of the voting interest of NAI, and such voting interest of NAI held by the SMR Trust is voted solely by Mr. Redstone until his incapacity or death and that the SMR Trust provides that in the event of Mr. Redstone’s death or incapacity, voting control of the NAI voting interest held by the SMR Trust will pass to seven trustees, who will include CBS Corporation directors Ms. Shari Redstone and Mr. David R. Andelman. No member of the Company’s management is a trustee of the SMR Trust. The Company has asserted in its amended verified complaint described in “Legal Matters” in Note 14 that Ms. Shari Redstone effectively controls NAI, although issues relating to control are subject to legal proceedings in the Delaware Court of Chancery. See “Legal Matters” in Note 14 for a description of legal proceedings in the Delaware Court of Chancery. Viacom Inc. On February 1, 2018, the Company announced that its Board of Directors established a special committee of independent directors to evaluate a potential combination with Viacom Inc. In May 2018, the committee determined that a merger of the Company and Viacom Inc. is not in the best interests of the Company’s stockholders (other than NAI). See “Legal Matters” in Note 14 for a description of legal proceedings in the Delaware Court of Chancery. 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 $10 million and $19 million for the three months ended June 30, 2018 and 2017 , respectively, and $29 million and $73 million for the six months ended June 30, 2018 and 2017 , respectively. The Company leases production facilities and purchases advertising spots from various subsidiaries of Viacom Inc. The total amounts for these transactions were $6 million and $4 million for the three months ended June 30, 2018 and 2017 , respectively, and $12 million and $9 million for the six months ended June 30, 2018 and 2017 , respectively. The following table presents the amounts due from Viacom Inc. in the normal course of business as reflected on the Company’s Consolidated Balance Sheets. Amounts due to Viacom Inc. were minimal at June 30, 2018 and December 31, 2017 . At At June 30, 2018 December 31, 2017 Receivables $ 34 $ 93 Other assets (Receivables, noncurrent) 14 11 Total amounts due from Viacom $ 48 $ 104 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 $22 million and $20 million for the three months ended June 30, 2018 and 2017 , respectively and $53 million and $49 million for the six months ended June 30, 2018 and 2017 , respectively. At June 30, 2018 and December 31, 2017 , total amounts due from these joint ventures were $16 million and $27 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	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Bank Financing and Debt	6 ) BANK FINANCING AND DEBT The following table sets forth the Company’s debt. At At June 30, 2018 December 31, 2017 Commercial paper $ 370 $ 679 Senior debt (2.30% - 7.875% due 2019 - 2045) (a) 9,430 9,426 Obligations under capital leases 50 57 Total debt 9,850 10,162 Less commercial paper 370 679 Less current portion of long-term debt 16 19 Total long-term debt, net of current portion $ 9,464 $ 9,464 (a) At June 30, 2018 and December 31, 2017 , the senior debt balances included (i) a net unamortized discount of $61 million and $65 million , respectively, (ii) unamortized deferred financing costs of $45 million and $47 million , respectively, and (iii) a decrease in the carrying value of the debt relating to previously settled fair value hedges of $4 million and $3 million , respectively. The face value of the Company’s senior debt was $9.54 billion at both June 30, 2018 and December 31, 2017 . Commercial Paper The Company had outstanding commercial paper borrowings under its $2.5 billion commercial paper program of $370 million and $679 million at June 30, 2018 and December 31, 2017 , respectively, each with maturities of less than 90 days. The weighted average interest rate for these borrowings was 2.42% at June 30, 2018 and 1.88% at December 31, 2017 . Credit Facility At June 30, 2018 , the Company had a $2.5 billion revolving credit facility (the “Credit Facility”) which expires in June 2021 . The Credit Facility requires the Company to maintain a maximum Consolidated Leverage Ratio of 4.5x at the end of each quarter as further described in the Credit Facility. At June 30, 2018 , the Company’s Consolidated Leverage Ratio was approximately 3.0x . The Consolidated Leverage Ratio is the ratio of the Company’s indebtedness from continuing operations, adjusted to exclude certain capital lease obligations, at the end of a quarter, to the Company’s Consolidated EBITDA for the trailing four consecutive quarters. Consolidated EBITDA is defined in the Credit Facility as operating income plus interest income and before depreciation, amortization and certain other noncash items. The Credit Facility is used for general corporate purposes. At June 30, 2018 , the Company had no borrowings outstanding under the Credit Facility and the remaining availability under the Credit Facility, net of outstanding letters of credit, was $2.49 billion .

Pension and Other Postretiremen

Pension and Other Postretirement Benefits	6 Months Ended
	Jun. 30, 2018
Retirement Benefits [Abstract]
Pension and Other Postretirement Benefits	7 ) PENSION AND OTHER POSTRETIREMENT BENEFITS The components of net periodic cost for the Company’s pension and postretirement benefit plans were as follows: Pension Benefits Postretirement Benefits Three Months Ended June 30, 2018 2017 2018 2017 Components of net periodic cost: Service cost $ 8 $ 8 $ — $ — Interest cost 37 47 4 5 Expected return on plan assets (45 ) (51 ) — — Amortization of actuarial loss (gain) (a) 24 26 (4 ) (6 ) Net periodic cost $ 24 $ 30 $ — $ (1 ) Pension Benefits Postretirement Benefits Six Months Ended June 30, 2018 2017 2018 2017 Components of net periodic cost: Service cost $ 16 $ 15 $ — $ — Interest cost 74 95 8 9 Expected return on plan assets (90 ) (101 ) — — Amortization of actuarial loss (gain) (a) 48 51 (9 ) (11 ) Net periodic cost $ 48 $ 60 $ (1 ) $ (2 ) (a) Reflects amounts reclassified from accumulated other comprehensive loss to net earnings (loss). The service cost component of net periodic cost is presented on the Consolidated Statements of Operations within operating income and all other components of net periodic cost are presented within “Other items, net.”

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2018
Stockholders' Equity Note [Abstract]
Stockholders' Equity	8 ) STOCKHOLDERS’ EQUITY During the second quarter of 2018 , the Company repurchased 3.8 million shares of its Class B Common Stock under its share repurchase program for $200 million , at an average cost of $52.17 per share. During the six months ended June 30, 2018 , the Company repurchased 7.6 million shares of its Class B Common Stock for $400 million , at an average cost of $52.42 , leaving $2.66 billion of authorization at June 30, 2018 . During the second quarter of 2018 , the Company declared a quarterly cash dividend of $.18 on its Class A and Class B Common Stock, resulting in total dividends of $69 million , which were paid on July 1, 2018 . On May 17, 2018 , the Company’s Board of Directors declared a pro rata dividend of 0.5687 of a share of the Company’s voting Class A Common Stock for each share of the Company’s Class A Common Stock and non-voting Class B Common Stock to stockholders of record as of the close of business on the record date, contingent on Delaware court approval. The record date for the dividend would be 10 days after such Delaware court approval or on the next business day after the 10-day period. If the dividend is issued, shares outstanding and EPS for prior periods would be adjusted to reflect the issuance of additional shares resulting from the dividend. The dividend, if issued, would dilute NAI’s voting interest from approximately 79.7% at June 30, 2018 to approximately 20% . The dividend would not dilute the economic interests of any of the Company’s stockholders. See “Legal Matters” in Note 14 for a description of legal proceedings in the Delaware Court of Chancery. Accumulated Other Comprehensive Income (Loss) The following tables summarize the changes in the components of accumulated other comprehensive loss. Cumulative Translation Adjustments Net Actuarial Loss and Prior Service Cost Accumulated Other Comprehensive Loss At December 31, 2017 $ 159 $ (821 ) $ (662 ) Other comprehensive loss before reclassifications (14 ) — (14 ) Reclassifications to net earnings — 30 (a) 30 Net other comprehensive income (loss) (14 ) 30 16 At June 30, 2018 $ 145 $ (791 ) $ (646 ) Cumulative Translation Adjustments Net Actuarial Loss and Prior Service Cost Accumulated Other Comprehensive Loss At December 31, 2016 $ 151 $ (918 ) $ (767 ) Other comprehensive income before reclassifications 2 — 2 Reclassifications to net loss — 24 (a) 24 Net other comprehensive income 2 24 26 At June 30, 2017 $ 153 $ (894 ) $ (741 ) (a) Reflects amortization of net actuarial losses. See Note 7 . The net actuarial losses related to pension and other postretirement benefit plans included in other comprehensive income are net of tax provisions of $9 million and $16 million for the six months ended June 30, 2018 and 2017 , respectively.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	9 ) INCOME TAXES The provision for income taxes represents federal, state and local, and foreign income taxes on earnings from continuing operations before income taxes and equity in loss of investee companies. Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Provision for income taxes, including interest and before other discrete items (a) $ 112 $ 176 $ 250 $ 361 Excess tax benefits from stock-based compensation (b) — (4 ) — (31 ) Other discrete items (c) 1 (3 ) (2 ) (23 ) Provision for income taxes $ 113 $ 169 $ 248 $ 307 Effective income tax rate 21.2 % 29.2 % 20.8 % 25.9 % (a) The lower tax provision for the three and six months ended June 30, 2018 primarily reflects a reduction in the federal corporate income tax rate from 35% to 21% as a result of the enactment of new federal tax legislation in December 2017. (b) Reflects the difference between the tax benefit from stock-based compensation expense and the deduction on the tax return associated with the exercise of stock options and vesting of RSUs. This difference occurs because stock-based compensation expense is recorded based on the grant-date fair value of the award, whereas the tax deduction is based on the fair value on the date the stock option is exercised or the RSU vests. (c) For the six months ended June 30, 2017 , primarily reflects tax benefits from the resolution of certain state income tax matters. In December 2017, the U.S. government enacted the Tax Reform Act containing significant changes to U.S. federal tax law, including a reduction in the federal corporate tax rate from 35% to 21% and a one-time transition tax on cumulative foreign earnings and profits. For the year ended December 31, 2017, the Company recorded a net provisional charge for the estimated transition tax on cumulative foreign earnings and profits, offset by an estimated benefit to adjust the Company’s deferred income tax balances as a result of the reduced corporate income tax rate. The Tax Reform Act also includes a deduction for foreign derived intangible income and a tax on global intangible low-taxed income (“GILTI”), which imposes a U.S. tax on certain income earned by the Company’s foreign subsidiaries. The Company included the tax on GILTI in its tax provision for the three and six months ended June 30, 2018 . The Company will complete its analysis of the Tax Reform Act within one year from its enactment. Such analysis will include finalizing and recording any adjustments to provisional estimates, as well as determining whether to treat the tax on GILTI as a period cost when incurred or as a component of deferred taxes.

Financial Instruments and Fair

Financial Instruments and Fair Value Measurements	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Financial Instruments and Fair Value Measurements	10 ) 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 June 30, 2018 and December 31, 2017 , the carrying value of the Company’s senior debt was $9.43 billion and the fair value, which is estimated based on quoted market prices for similar liabilities (Level 2) and includes accrued interest, was $9.58 billion and $10.16 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 and reclassified to the statement of operations when the hedged item is recognized. Additionally, the Company enters into non-designated forward contracts to hedge non-U.S. dollar denominated cash flows. At June 30, 2018 and December 31, 2017 , the notional amount of all foreign exchange contracts was $381 million and $410 million , respectively. Gains (losses) recognized on derivative financial instruments were as follows: Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Financial Statement Account Non-designated foreign exchange contracts $ 17 $ (12 ) $ 13 $ (20 ) Other items, net The fair value of the Company’s derivative instruments was not material to the Consolidated Balance Sheets for any of the periods presented. The following tables set forth the Company’s assets and liabilities measured at fair value on a recurring basis at June 30, 2018 and December 31, 2017 . These assets and liabilities have been categorized according to the three-level fair value hierarchy established by the FASB, which prioritizes the inputs used in measuring fair value. Level 1 is based on publicly quoted prices for the asset or liability in active markets. Level 2 is based on inputs that are observable other than quoted market prices in active markets, such as quoted prices for the asset or liability in inactive markets or quoted prices for similar assets or liabilities. Level 3 is based on unobservable inputs reflecting the Company’s own assumptions about the assumptions that market participants would use in pricing the asset or liability. At June 30, 2018 Level 1 Level 2 Level 3 Total Assets: Foreign currency hedges $ — $ 10 $ — $ 10 Total Assets $ — $ 10 $ — $ 10 Liabilities: Deferred compensation $ — $ 364 $ — $ 364 Foreign currency hedges — 2 — 2 Total Liabilities $ — $ 366 $ — $ 366 At December 31, 2017 Level 1 Level 2 Level 3 Total Assets: Foreign currency hedges $ — $ 5 $ — $ 5 Total Assets $ — $ 5 $ — $ 5 Liabilities: Deferred compensation $ — $ 363 $ — $ 363 Foreign currency hedges — 10 — 10 Total Liabilities $ — $ 373 $ — $ 373 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.

Segment and Revenue Information

Segment and Revenue Information	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Segment and Revenue Information	11 ) SEGMENT AND REVENUE INFORMATION The following tables set forth the Company’s financial information by reportable segment. The Company’s operating segments, which are the same as its reportable segments, have been determined in accordance with the Company’s internal management structure, which is organized based upon products and services. Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Revenues: Entertainment $ 2,365 $ 2,184 $ 5,081 $ 4,531 Cable Networks 591 571 1,200 1,114 Publishing 207 206 367 367 Local Media 420 412 835 821 Corporate/Eliminations (117 ) (116 ) (256 ) (233 ) Total Revenues $ 3,466 $ 3,257 $ 7,227 $ 6,600 Revenues generated between segments primarily reflect advertising sales, content licensing and station affiliation fees. These transactions are recorded at market value as if the sales were to third parties and are eliminated in consolidation. Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Intercompany Revenues: Entertainment $ 120 $ 118 $ 259 $ 237 Local Media 5 3 10 6 Total Intercompany Revenues $ 125 $ 121 $ 269 $ 243 The Company presents operating income (loss) excluding costs for restructuring and other corporate matters, where applicable, (“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 Six Months Ended June 30, June 30, 2018 2017 2018 2017 Segment Operating Income (Loss): Entertainment $ 356 $ 351 $ 848 $ 754 Cable Networks 256 255 486 505 Publishing 31 29 47 44 Local Media 128 128 246 252 Corporate (77 ) (73 ) (152 ) (139 ) Restructuring and other corporate matters (35 ) — (44 ) — Operating income 659 690 1,431 1,416 Interest expense (116 ) (111 ) (234 ) (220 ) Interest income 14 15 31 28 Other items, net (24 ) (16 ) (35 ) (37 ) Earnings from continuing operations before income taxes and equity in loss of investee companies 533 578 1,193 1,187 Provision for income taxes (113 ) (169 ) (248 ) (307 ) Equity in loss of investee companies, net of tax (20 ) (12 ) (34 ) (29 ) Net earnings from continuing operations 400 397 911 851 Net loss from discontinued operations, net of tax — (339 ) — (1,045 ) Net earnings (loss) $ 400 $ 58 $ 911 $ (194 ) Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Depreciation and Amortization: Entertainment $ 31 $ 27 $ 61 $ 56 Cable Networks 5 6 11 12 Publishing 2 2 3 3 Local Media 11 12 22 23 Corporate 7 9 15 17 Total Depreciation and Amortization $ 56 $ 56 $ 112 $ 111 Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Stock-based Compensation: Entertainment $ 16 $ 17 $ 31 $ 32 Cable Networks 3 3 6 6 Publishing 1 1 2 2 Local Media 3 3 6 6 Corporate 24 21 46 39 Total Stock-based Compensation $ 47 $ 45 $ 91 $ 85 Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Capital Expenditures: Entertainment $ 20 $ 24 $ 37 $ 38 Cable Networks 3 4 7 7 Publishing 1 — 2 1 Local Media 5 7 9 12 Corporate 3 6 7 10 Total Capital Expenditures $ 32 $ 41 $ 62 $ 68 At At June 30, 2018 December 31, 2017 Assets: Entertainment $ 12,236 $ 12,626 Cable Networks 2,938 2,878 Publishing 956 906 Local Media 3,993 4,042 Corporate/Eliminations 249 378 Discontinued operations 13 13 Total Assets $ 20,385 $ 20,843 The following table presents the Company’s revenues disaggregated into categories based on the nature of such revenues. Three Months Ended Six Months Ended June 30, June 30, Revenues by Type 2018 2017 2018 2017 Advertising $ 1,327 $ 1,299 $ 3,060 $ 2,902 Content licensing and distribution: Programming 889 850 1,724 1,534 Publishing 207 206 367 367 Affiliate and subscription fees 989 848 1,968 1,690 Other 54 54 108 107 Total Revenues $ 3,466 $ 3,257 $ 7,227 $ 6,600

Adoption of "Revenue From Contr

Adoption of "Revenue From Contracts With Customers"	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Adoption of Revenue From Contracts With Customers	12 ) ADOPTION OF “REVENUE FROM CONTRACTS WITH CUSTOMERS” On January 1, 2018, the Company adopted FASB Accounting Standards Codification 606 (“ASC 606”) on the recognition of revenues using the modified retrospective method applied to all contracts. Results for reporting periods beginning after January 1, 2018 are presented under ASC 606 while prior periods have not been adjusted. The Company recorded an increase to accumulated deficit of $261 million as of January 1, 2018 reflecting the cumulative impact of the adoption of ASC 606. The adoption of ASC 606 primarily resulted in two changes to the Company’s revenue recognition policies. • Revenues from Distribution Arrangements Revenues from the Company’s distribution of third-party content are now recognized based on the gross amount of consideration received from the customer, with an offsetting participation expense recognized for the fees paid to the third party. Under previous accounting guidance, such revenues, which include content licensing and distribution revenues and advertising revenues, were recognized at the net amount retained by the Company after the payment of fees to the third party. For the three and six months ended June 30, 2018 , respectively, revenues and operating expenses relating to such distribution arrangements were each $61 million and $124 million higher under ASC 606 than the amounts that would have been reported under previous accounting guidance, with no impact to operating income. • Revenues from the Renewal of Licensing Agreements Revenues associated with the renewal of an existing license agreement are now recognized at the beginning of the renewal period. Under previous accounting guidance, these revenues were recognized upon the execution of such renewal. Content licensing and distribution revenue comparisons will continue to be impacted by fluctuations resulting from the timing of when Company-owned television series are made available for multiyear licensing agreements. Therefore, this change is not expected to have a material impact on the trend of the Company’s financial results. Additionally, historically, on an annual basis, revenues from renewals executed each year have approximated revenues associated with renewal periods that began in the same year. The following table presents the amount by which each applicable financial statement line item on the Consolidated Statement of Operations would have decreased for the three and six months ended June 30, 2018 if license renewals were recognized under previous accounting guidance. Three Months Ended Six Months Ended June 30, 2018 June 30, 2018 Revenues $ 29 $ 141 Operating expenses 14 63 Operating income 15 78 Less: Provision for income taxes 3 16 Net earnings from continuing operations $ 12 $ 62 Diluted EPS from continuing operations $ .03 $ .16 In addition, the adoption of ASC 606 resulted in certain classification changes on the Consolidated Balance Sheet. The primary change is the reclassification of the sales returns reserve relating to the publishing business to “Other current liabilities.” Such amount, which was $108 million at June 30, 2018 , was previously presented as a reduction to receivables. The following table presents the amount by which each applicable financial statement line item on the Consolidated Balance Sheet at June 30, 2018 would increase (decrease) if all of the above changes resulting from the adoption of ASC 606 were presented under previous accounting guidance. Assets Receivables, net $ (82 ) Programming and other inventory (noncurrent) $ (47 ) Other assets (noncurrent receivables) $ 436 Liabilities Other current liabilities $ (151 ) Deferred income tax liabilities, net $ 51 Participants’ share and royalties payable $ 208 Accumulated deficit $ 199 ASC 606 also requires enhanced disclosures relating to the Company’s revenues from contracts with customers (See Note 1 ), including the disaggregation of revenues into categories (See Note 11 ).

Discontinued Operations

Discontinued Operations	6 Months Ended
	Jun. 30, 2018
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	13 ) DISCONTINUED OPERATIONS On November 16, 2017 , the Company completed the split-off of CBS Radio through an exchange offer, in which the Company accepted 17.9 million shares of CBS Corp. Class B Common Stock from its stockholders in exchange for the 101.4 million shares of CBS Radio common stock that it owned. Immediately following the exchange offer, each share of CBS Radio common stock was converted into one share of Entercom Communications Corp. (“Entercom”) Class A common stock upon completion of the merger. The following table sets forth details of net loss from discontinued operations for the three and six months ended June 30, 2017 . Three Months Ended Six Months Ended June 30, 2017 June 30, 2017 Revenues $ 306 $ 556 Costs and expenses: Operating 105 194 Selling, general and administrative 128 250 Market value adjustment (a) 365 1,080 Restructuring charges (b) 7 7 Total costs and expenses 605 1,531 Operating loss (299 ) (975 ) Interest expense (20 ) (39 ) Other items, net (1 ) (1 ) Loss from discontinued operations (320 ) (1,015 ) Income tax provision (19 ) (30 ) Net loss from discontinued operations, net of tax $ (339 ) $ (1,045 ) (a) During 2017, prior to its split-off, CBS Radio was measured each reporting period at the lower of its carrying amount or fair value less cost to sell. The value of the transaction with Entercom was determined based on Entercom’s stock price at the closing of the transaction and therefore, the Company recorded a market value adjustment to adjust the carrying value of CBS Radio to the value indicated by the stock valuation of Entercom. (b) Reflects restructuring charges associated with the reorganization of certain business operations, including severance costs and costs associated with exiting contractual obligations.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	14 ) 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 June 30, 2018 , the outstanding letters of credit and surety bonds approximated $107 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, other than with respect to In re CBS Corporation Litigation , Consol. C.A. No. 2018-0342-AGB (Del. Ch.) described below, the potential impact of which cannot be ascertained at this time. 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. Litigation Involving the Company and Its Controlling Stockholder, National Amusements, Inc., Among Others, in the Delaware Court of Chancery. On May 14, 2018, the Company and certain of the Company’s independent directors filed a lawsuit in the Delaware Court of Chancery against NAI, Ms. Shari Redstone, Mr. Sumner M. Redstone, NAI Entertainment Holdings LLC (“NAIEH”) and the Sumner M. Redstone National Amusements Trust (the “SMR Trust”). The verified complaint alleged, among other things, that NAI, Mr. Sumner M. Redstone and Ms. Shari Redstone had breached their fiduciary duties to the Company’s stockholders by abusing their control to threaten the independent corporate governance of the Company, and NAIEH and the SMR Trust had aided and abetted those breaches of fiduciary duty. On May 16, 2018, each of NAI and NAIEH delivered to the Company a written consent purporting to immediately effect certain amendments (the “Purported Bylaw Amendments”) to the Company’s amended and restated bylaws (the “Bylaws”). The Purported Bylaw Amendments, if valid and upon becoming effective, would (1) change the vote required and otherwise restrict the ability of the Company’s Board of Directors to declare and pay any dividend upon the capital stock of the Company, (2) change the vote required and otherwise restrict the ability of the Company’s Board of Directors to adopt, amend, alter, change or repeal any provisions of the Bylaws and (3) modify, in certain respects, the Company's existing Bylaw provision providing that the Court of Chancery of the State of Delaware is the exclusive jurisdiction for certain types of corporate litigation. On May 17, 2018, the Court denied the Company’s motion for a temporary restraining order against NAI, Mr. Sumner M. Redstone, Ms. Shari Redstone, NAIEH and the SMR Trust. Also on May 17, 2018 , the Company’s Board of Directors declared a pro rata dividend of 0.5687 of a share of the Company’s voting Class A Common Stock for each share of the Company's Class A Common Stock and non-voting Class B Common Stock to stockholders of record as of the close of business on the record date, contingent on Delaware court approval (the “May 2018 Stock Dividend”). On May 23, 2018, the Company and certain of the Company’s independent directors filed an amended verified complaint in the above matter. The amended verified complaint alleges, among other things, that NAI, NAIEH, Mr. Sumner M. Redstone, Ms. Shari Redstone and the SMR Trust form a controlling stockholder group and have breached their fiduciary duties to the Company’s stockholders by abusing their control to threaten the independent corporate governance of the Company and that the Purported Bylaw Amendments are invalid or were ineffective as of May 17, 2018. The amended verified complaint seeks a declaration that the May 2018 Stock Dividend is valid and permissible, a declaration that the Purported Bylaw Amendments are invalid or were ineffective as of May 17, 2018 and an injunction against any action by NAI, Mr. Sumner M. Redstone, Ms. Shari Redstone, NAIEH or the SMR Trust to interfere with the composition of the Company’s Board of Directors or to modify the Company’s governance documents before the issuance of any shares pursuant to the May 2018 Stock Dividend. On May 29, 2018, NAI, NAIEH and Ms. Shari Redstone filed a lawsuit in the Delaware Court of Chancery against certain of the Company’s directors. NAI’s verified complaint, as amended on June 25, 2018, alleges, among other things, that the May 2018 Stock Dividend violates the Company’s bylaws and certificate of incorporation, and that the directors named as defendants had breached their fiduciary duties in approving the May 2018 Stock Dividend. The amended verified complaint seeks a declaration that the Purported Bylaw Amendments are valid, a declaration that the May 2018 Stock Dividend is invalid, an injunction against issuance and payment of the May 2018 Stock Dividend and any action by the defendants to carry out the May 2018 Stock Dividend, and other relief. On July 27, 2018, NAI filed a further amendment to its amended verified complaint. That amendment, effective as of filing, is due to become public on August 3, 2018. On June 7, 2018, the Court consolidated the aforementioned respective lawsuits filed by the Company and certain of the Company’s independent directors and by NAI, NAIEH and Ms. Shari Redstone under the consolidated action captioned In re CBS Corporation Litigation , Consol. C.A. No. 2018-0342-AGB (Del. Ch.). On June 11, 2018, the Delaware Court of Chancery entered a scheduling order calling for a trial of the consolidated action taking place on October 3-5 and 8-9, 2018. On May 31, 2018, Westmoreland County Employees’ Retirement System (“Westmoreland”), a purported beneficial owner of the Company’s Class B Common Stock, filed a class action complaint in the Delaware Court of Chancery against NAI, NAIEH, Mr. David R. Andelman, Mr. Robert N. Klieger and Ms. Shari Redstone, alleging breaches of contractual obligations, implied obligations and fiduciary duties to the Company’s Class B Common Stock holders in connection with the Purported Bylaw Amendments and interference with the issuance by the Company’s Board of Directors of the May 2018 Stock Dividend. Westmoreland’s complaint seeks a declaratory judgment that the Company’s certificate of incorporation authorizes the May 2018 Stock Dividend, that Westmoreland and the class are entitled to the May 2018 Stock Dividend, that the Purported Bylaw Amendments are invalid and other relief. On June 6, 2018, Westmoreland filed a motion to consolidate its lawsuit with the aforementioned actions filed by the Company and certain of its independent directors and by NAI, NAIEH and Ms. Shari Redstone. On June 11, 2018, NAI, NAIEH and Ms. Shari Redstone opposed that motion and simultaneously filed a motion to stay the lawsuit filed by Westmoreland in favor of the pending consolidated action captioned In re CBS Corporation Litigation described above. On June 20, 2018, the Delaware Court of Chancery denied both motions, but directed the Westmoreland lawsuit to proceed on the same timetable as, and to be coordinated with respect to discovery and trial with, the aforementioned consolidated action. 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 as a result of exposure caused by various products manufactured by Westinghouse, a predecessor, generally prior to the early 1970s. Westinghouse was neither a producer nor a manufacturer of asbestos. The Company is typically named as one of a large number of defendants in both state and federal cases. In the majority of asbestos lawsuits, the plaintiffs have not identified which of the Company’s products is the basis of a claim. Claims against the Company in which a product has been identified principally relate to exposures allegedly caused by asbestos-containing insulating material in turbines sold for power-generation, industrial and marine use. Claims are frequently filed and/or settled in groups, which may make the amount and timing of settlements, and the number of pending claims, subject to significant fluctuation from period to period. The Company does not report as pending those claims on inactive, stayed, deferred or similar dockets which some jurisdictions have established for claimants who allege minimal or no impairment. As of June 30, 2018 , the Company had pending approximately 31,750 asbestos claims, as compared with approximately 31,660 as of December 31, 2017 and 33,240 as of June 30, 2017 . During the second quarter of 2018 , the Company received approximately 860 new claims and closed or moved to an inactive docket approximately 710 claims. The Company reports claims as closed when it becomes aware that a dismissal order has been entered by a court or when the Company has reached agreement with the claimants on the material terms of a settlement. Settlement costs depend on the seriousness of the injuries that form the basis of the claims, the quality of evidence supporting the claims and other factors. The Company’s total costs for the years 2017 and 2016 for settlement and defense of asbestos claims after insurance recoveries and net of tax were approximately $57 million and $48 million , respectively. The Company’s costs for settlement and defense of asbestos claims may vary year to year and insurance proceeds are not always recovered in the same period as the insured portion of the expenses. The Company believes that its reserves and insurance are adequate to cover its asbestos liabilities. This belief is based upon many factors and assumptions, including the number of outstanding claims, estimated average cost per claim, the breakdown of claims by disease type, historic claim filings, costs per claim of resolution and the filing of new claims. While the number of asbestos claims filed against the Company has remained generally 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.

Condensed Consolidating Financi

Condensed Consolidating Financial Statements	6 Months Ended
	Jun. 30, 2018
Condensed Financial Information Disclosure [Abstract]
Condensed Consolidating Financial Statements	15 ) CONDENSED CONSOLIDATING FINANCIAL STATEMENTS CBS Operations Inc. is a wholly owned subsidiary of the Company. CBS Operations Inc. has fully and unconditionally guaranteed CBS Corp.’s senior debt securities. The following condensed consolidating financial statements present the results of operations, financial position and cash flows of CBS Corp., CBS Operations Inc., the direct and indirect Non-Guarantor Affiliates of CBS Corp. and CBS Operations Inc., and the eliminations necessary to arrive at the information for the Company on a consolidated basis. Statement of Operations For the Three Months Ended June 30, 2018 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Revenues $ 44 $ 2 $ 3,420 $ — $ 3,466 Costs and expenses: Operating 23 1 2,160 — 2,184 Selling, general and administrative 12 68 452 — 532 Depreciation and amortization 1 5 50 — 56 Restructuring and other corporate matters — 16 19 — 35 Total costs and expenses 36 90 2,681 — 2,807 Operating income (loss) 8 (88 ) 739 — 659 Interest (expense) income, net (133 ) (126 ) 157 — (102 ) Other items, net (9 ) 14 (29 ) — (24 ) Earnings (loss) before income taxes and equity in earnings (loss) of investee companies (134 ) (200 ) 867 — 533 Benefit (provision) for income taxes 28 42 (183 ) — (113 ) Equity in earnings (loss) of investee companies, net of tax 506 344 (20 ) (850 ) (20 ) Net earnings $ 400 $ 186 $ 664 $ (850 ) $ 400 Total comprehensive income $ 407 $ 195 $ 644 $ (839 ) $ 407 Statement of Operations For the Six Months Ended June 30, 2018 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Revenues $ 87 $ 5 $ 7,135 $ — $ 7,227 Costs and expenses: Operating 48 2 4,534 — 4,584 Selling, general and administrative 25 132 899 — 1,056 Depreciation and amortization 2 11 99 — 112 Restructuring and other corporate matters — 25 19 — 44 Total costs and expenses 75 170 5,551 — 5,796 Operating income (loss) 12 (165 ) 1,584 — 1,431 Interest (expense) income, net (263 ) (248 ) 308 — (203 ) Other items, net (16 ) 12 (31 ) — (35 ) Earnings (loss) before income taxes and equity in earnings (loss) of investee companies (267 ) (401 ) 1,861 — 1,193 Benefit (provision) for income taxes 55 83 (386 ) — (248 ) Equity in earnings (loss) of investee companies, net of tax 1,123 756 (34 ) (1,879 ) (34 ) Net earnings $ 911 $ 438 $ 1,441 $ (1,879 ) $ 911 Total comprehensive income $ 927 $ 440 $ 1,424 $ (1,864 ) $ 927 Statement of Operations For the Three Months Ended June 30, 2017 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Revenues $ 42 $ 2 $ 3,213 $ — $ 3,257 Costs and expenses: Operating 22 2 1,980 — 2,004 Selling, general and administrative 14 65 428 — 507 Depreciation and amortization 1 6 49 — 56 Total costs and expenses 37 73 2,457 — 2,567 Operating income (loss) 5 (71 ) 756 — 690 Interest (expense) income, net (127 ) (120 ) 151 — (96 ) Other items, net (8 ) (15 ) 7 — (16 ) Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of investee companies (130 ) (206 ) 914 — 578 Benefit (provision) for income taxes 39 62 (270 ) — (169 ) Equity in earnings (loss) of investee companies, net of tax 149 339 (12 ) (488 ) (12 ) Net earnings from continuing operations 58 195 632 (488 ) 397 Net loss from discontinued operations, net of tax — — (339 ) — (339 ) Net earnings $ 58 $ 195 $ 293 $ (488 ) $ 58 Total comprehensive income $ 70 $ 190 $ 302 $ (492 ) $ 70 Statement of Operations For the Six Months Ended June 30, 2017 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Revenues $ 84 $ 5 $ 6,511 $ — $ 6,600 Costs and expenses: Operating 46 3 4,029 — 4,078 Selling, general and administrative 24 126 845 — 995 Depreciation and amortization 2 12 97 — 111 Total costs and expenses 72 141 4,971 — 5,184 Operating income (loss) 12 (136 ) 1,540 — 1,416 Interest (expense) income, net (249 ) (237 ) 294 — (192 ) Other items, net (18 ) (31 ) 12 — (37 ) Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of investee companies (255 ) (404 ) 1,846 — 1,187 Benefit (provision) for income taxes 77 122 (506 ) — (307 ) Equity in earnings (loss) of investee companies, net of tax (16 ) 693 (29 ) (677 ) (29 ) Net earnings (loss) from continuing operations (194 ) 411 1,311 (677 ) 851 Net loss from discontinued operations, net of tax — — (1,045 ) — (1,045 ) Net earnings (loss) $ (194 ) $ 411 $ 266 $ (677 ) $ (194 ) Total comprehensive income (loss) $ (168 ) $ 404 $ 281 $ (685 ) $ (168 ) Balance Sheet At June 30, 2018 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Assets Cash and cash equivalents $ 106 $ — $ 146 $ — $ 252 Receivables, net 22 2 3,573 — 3,597 Programming and other inventory 2 2 1,872 — 1,876 Prepaid expenses and other current assets 19 36 301 (33 ) 323 Total current assets 149 40 5,892 (33 ) 6,048 Property and equipment 40 219 2,725 — 2,984 Less accumulated depreciation and amortization 22 174 1,551 — 1,747 Net property and equipment 18 45 1,174 — 1,237 Programming and other inventory 3 5 3,189 — 3,197 Goodwill 98 62 4,761 — 4,921 Intangible assets — — 2,655 — 2,655 Investments in consolidated subsidiaries 46,406 15,926 — (62,332 ) — Other assets 161 5 2,161 — 2,327 Intercompany — 902 30,712 (31,614 ) — Total Assets $ 46,835 $ 16,985 $ 50,544 $ (93,979 ) $ 20,385 Liabilities and Stockholders’ Equity Accounts payable $ 5 $ 11 $ 122 $ — $ 138 Participants’ share and royalties payable — — 1,071 — 1,071 Program rights 2 2 365 — 369 Commercial paper 370 — — — 370 Current portion of long-term debt 3 — 13 — 16 Accrued expenses and other current liabilities 478 235 1,140 (33 ) 1,820 Total current liabilities 858 248 2,711 (33 ) 3,784 Long-term debt 9,381 — 83 — 9,464 Other liabilities 2,815 230 1,925 — 4,970 Intercompany 31,614 — — (31,614 ) — Stockholders’ Equity: Preferred stock — — 126 (126 ) — Common stock 1 123 590 (713 ) 1 Additional paid-in capital 43,720 — 60,894 (60,894 ) 43,720 Retained earnings (accumulated deficit) (18,250 ) 16,695 (11,044 ) (5,651 ) (18,250 ) Accumulated other comprehensive income (loss) (646 ) 20 59 (79 ) (646 ) 24,825 16,838 50,625 (67,463 ) 24,825 Less treasury stock, at cost 22,658 331 4,800 (5,131 ) 22,658 Total Stockholders’ Equity 2,167 16,507 45,825 (62,332 ) 2,167 Total Liabilities and Stockholders’ Equity $ 46,835 $ 16,985 $ 50,544 $ (93,979 ) $ 20,385 Balance Sheet At December 31, 2017 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Assets Cash and cash equivalents $ 173 $ — $ 112 $ — $ 285 Receivables, net 29 2 3,666 — 3,697 Programming and other inventory 3 3 1,822 — 1,828 Prepaid expenses and other current assets 130 28 341 (36 ) 463 Total current assets 335 33 5,941 (36 ) 6,273 Property and equipment 49 217 2,785 — 3,051 Less accumulated depreciation and amortization 27 163 1,581 — 1,771 Net property and equipment 22 54 1,204 — 1,280 Programming and other inventory 3 4 2,874 — 2,881 Goodwill 98 62 4,731 — 4,891 Intangible assets — — 2,666 — 2,666 Investments in consolidated subsidiaries 45,504 15,225 — (60,729 ) — Other assets 162 5 2,685 — 2,852 Intercompany — 1,221 29,562 (30,783 ) — Total Assets $ 46,124 $ 16,604 $ 49,663 $ (91,548 ) $ 20,843 Liabilities and Stockholders ’ Equity Accounts payable $ 1 $ 30 $ 200 $ — $ 231 Participants’ share and royalties payable — — 986 — 986 Program rights 4 4 365 — 373 Commercial paper 679 — — — 679 Current portion of long-term debt 2 — 17 — 19 Accrued expenses and other current liabilities 352 269 1,099 (36 ) 1,684 Total current liabilities 1,038 303 2,667 (36 ) 3,972 Long-term debt 9,378 — 86 — 9,464 Other liabilities 2,947 234 2,248 — 5,429 Intercompany 30,783 — — (30,783 ) — Stockholders’ Equity: Preferred stock — — 126 (126 ) — Common stock 1 123 590 (713 ) 1 Additional paid-in capital 43,797 — 60,894 (60,894 ) 43,797 Retained earnings (accumulated deficit) (18,900 ) 16,257 (12,224 ) (4,033 ) (18,900 ) Accumulated other comprehensive income (loss) (662 ) 18 76 (94 ) (662 ) 24,236 16,398 49,462 (65,860 ) 24,236 Less treasury stock, at cost 22,258 331 4,800 (5,131 ) 22,258 Total Stockholders’ Equity 1,978 16,067 44,662 (60,729 ) 1,978 Total Liabilities and Stockholders’ Equity $ 46,124 $ 16,604 $ 49,663 $ (91,548 ) $ 20,843 Statement of Cash Flows For the Six Months Ended June 30, 2018 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Net cash flow (used for) provided by operating activities $ (234 ) $ (130 ) $ 1,407 $ — $ 1,043 Investing Activities: Investments in and advances to investee companies — — (71 ) — (71 ) Capital expenditures — (7 ) (55 ) — (62 ) Acquisitions — — (29 ) — (29 ) Other investing activities 2 — — — 2 Net cash flow provided by (used for) investing activities from continuing operations 2 (7 ) (155 ) — (160 ) Net cash flow used for investing activities from discontinued operations (23 ) — — — (23 ) Net cash flow used for investing activities (21 ) (7 ) (155 ) — (183 ) Financing Activities: Repayments of short-term debt borrowings, net (309 ) — — — (309 ) Payment of capital lease obligations — — (8 ) — (8 ) Payment of contingent consideration — — (5 ) — (5 ) Dividends (140 ) — — — (140 ) Purchase of Company common stock (394 ) — — — (394 ) Payment of payroll taxes in lieu of issuing shares for stock-based compensation (58 ) — — — (58 ) Proceeds from exercise of stock options 22 — — — 22 Other financing activities (1 ) — — — (1 ) Increase (decrease) in intercompany payables 1,068 137 (1,205 ) — — Net cash flow provided by (used for) financing activities 188 137 (1,218 ) — (893 ) Net (decrease) increase in cash and cash equivalents (67 ) — 34 — (33 ) Cash and cash equivalents at beginning of period 173 — 112 — 285 Cash and cash equivalents at end of period $ 106 $ — $ 146 $ — $ 252 Statement of Cash Flows For the Six Months Ended June 30, 2017 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Net cash flow (used for) provided by operating activities $ (608 ) $ (153 ) $ 1,699 $ — $ 938 Investing Activities: Investments in and advances to investee companies — — (65 ) — (65 ) Capital expenditures — (10 ) (58 ) — (68 ) Acquisitions — — (21 ) — (21 ) Other investing activities 14 — 1 — 15 Net cash flow provided by (used for) investing activities from continuing operations 14 (10 ) (143 ) — (139 ) Net cash flow used for investing activities from discontinued operations — (1 ) (12 ) — (13 ) Net cash flow provided by (used for) investing activities 14 (11 ) (155 ) — (152 ) Financing Activities: Repayments of short-term debt borrowings, net (187 ) — — — (187 ) Proceeds from debt borrowings of CBS Radio — — 24 — 24 Repayment of debt borrowings of CBS Radio — — (5 ) — (5 ) Payment of capital lease obligations — — (8 ) — (8 ) Payment of contingent consideration — — (7 ) — (7 ) Dividends (151 ) — — — (151 ) Purchase of Company common stock (845 ) — — — (845 ) Payment of payroll taxes in lieu of issuing shares for stock-based compensation (89 ) — — — (89 ) Proceeds from exercise of stock options 39 — — — 39 Increase (decrease) in intercompany payables 1,521 164 (1,685 ) — — Net cash flow (used for) provided by financing activities 288 164 (1,681 ) — (1,229 ) Net decrease in cash and cash equivalents (306 ) — (137 ) — (443 ) Cash and cash equivalents at beginning of period (includes $24 million of discontinued operations cash) 321 — 301 — 622 Cash and cash equivalents at end of period (includes $9 million of discontinued operations cash) $ 15 $ — $ 164 $ — $ 179

Basis of Presentation and Sum23

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2018
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 (“GAAP”) requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts 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.
Revenues	Revenues Advertising Revenues- Advertising revenues, net of agency commissions, are recognized when the advertising spots are aired on television or displayed on digital platforms. If there is a guarantee to deliver a targeted audience rating or number of impressions, revenues are recognized as the actual audience rating or impressions are delivered. Audience ratings and impressions are determined based on data provided by independent third-party companies. Advertising contracts, which are generally short-term, are billed monthly, with payments due shortly after the invoice date. Advertising revenues are primarily generated by the Entertainment and Local Media segments. Content Licensing and Distribution Revenues- Content licensing and distribution revenues are generated from the licensing of internally-produced television programming, fees from the distribution of third-party programming, and the publishing and distribution of consumer books. Program Licensing and Distribution Revenues from the licensing of internally-produced television programming are recognized when the content is made available to the licensee for exhibition and the license period has begun. For license agreements containing multiple deliverables, revenues are allocated based on the relative standalone selling price of each program. Agreements to license programming are often long term, with collection terms ranging from one to five years. The Company also distributes programs on behalf of third parties. In such arrangements, the Company generally obtains control of the program before selling it to the customer. Therefore, revenues from such distribution arrangements, which include both content licensing and advertising revenues, are recognized based on the gross amount of consideration received from the customer, with a participation expense recognized for the fees paid to the third-party producer. Substantially all of the Company’s program licensing and distribution revenues are generated by the Entertainment segment, with the remainder generated by the Cable Networks segment. Publishing Publishing revenues are recognized when merchandise is shipped or electronically delivered to the consumer. Consumer print books are generally sold with a right of return. The Company records a returns reserve and corresponding decrease in revenue at the time of sale based upon historical trends. For publishing revenues, payments are due shortly after shipment or electronic delivery. Affiliate and Subscription Fees- A majority of the Company’s affiliate and subscription fees are generated by the Cable Networks segment and consist of fees received from multichannel video programming distributors (“MVPDs”) for carriage of the Company’s cable networks and subscription fees for the Showtime digital streaming subscription offering. The Entertainment segment generates affiliate and subscription fees primarily from television stations affiliated with the CBS Television Network and subscribers to C BS All Access , its owned streaming subscription service. In addition, the Local Media segment generates retransmission fees from MVPDs for carriage of the Company’s television stations. Affiliate and subscription fees are recognized as access to the Company’s content is provided to the customer over the term of the agreement. For agreements that provide for a variable fee, revenues are determined each month based on an agreed upon contractual rate applied to the number of subscribers to the customer’s service. For agreements that provide for a fixed fee, revenues are recognized based on the relative fair value provided over the term of the agreement. For affiliate and subscription fee revenues, payments are generally due monthly.
Net Earnings (Loss) per Common Share	Net Earnings (Loss) per Common Share -Basic net earnings (loss) per share (“EPS”) is based upon net earnings (loss) divided by the weighted average number of common shares outstanding during the period. Diluted EPS reflects the effect of the assumed exercise of stock options and vesting of restricted stock units (“RSUs”) and market-based performance share units (“PSUs”) only in the periods in which such effect would have been dilutive.
Recently Adopted Accounting Pronouncements and Accounting Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements Revenue from Contracts with Customers During the first quarter of 2018 , the Company adopted Financial Accounting Standards Board (“FASB”) 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 applied the modified retrospective method of adoption with the cumulative effect of the initial adoption of $261 million reflected as an adjustment to the opening balance of accumulated deficit as of January 1, 2018. Prior periods continue to be presented under previous accounting guidance (See Note 12 ). Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost During the first quarter of 2018 , the Company adopted FASB amended guidance on the presentation of net periodic pension and postretirement benefit cost (“net benefit cost”). This guidance requires the Company to present the service cost component of net benefit cost in the same line item(s) on the statement of operations as other compensation costs of the related employees. All of the other components of net benefit cost are presented in the statement of operations separately from the service cost component and below the subtotal of operating income. As a result of the adoption of this guidance, the Company presented $16 million and $31 million of net benefit costs in “Other items, net” on the Consolidated Statement of Operations for the three and six months ended June 30, 2018 , respectively, representing the components of net benefit cost other than service cost. This guidance is required to be applied retrospectively and therefore, $21 million and $43 million of expenses, previously presented within operating income, have been reclassified to “Other items, net” for the three and six months ended June 30, 2017 , respectively. Stock Compensation: Scope of Modification Accounting During the first quarter of 2018 , the Company adopted FASB amended guidance on the accounting for stock-based compensation which clarifies when to account for a change to the terms or conditions of a share-based payment award as a modification. Under this guidance, modification accounting is required only if the fair value, the vesting conditions, or the classification of the award as equity or liability changes as a result of the change in the terms or conditions of a share-based payment award. The adoption of this guidance did not have an impact on the Company’s consolidated financial statements. Clarifying the Definition of a Business During the first quarter of 2018 , the Company adopted FASB amended guidance on the accounting for business combinations which clarifies the definition of a business and assists entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. Under this guidance, when substantially all of the fair value of gross assets acquired is concentrated in a single asset (or group of similar assets), the assets acquired would not represent a business. In addition, in order to be considered a business, an acquisition would have to include at a minimum an input and a substantive process that together significantly contribute to the ability to create an output. The amended guidance also narrows the definition of outputs by more closely aligning it with how outputs are described in FASB guidance for revenue recognition. The adoption of this guidance did not have an impact on the Company’s consolidated financial statements. Intra-Entity Transfers of Assets Other than Inventory During the first quarter of 2018 , the Company adopted FASB amended guidance on the accounting for income taxes, which eliminates the exception in existing guidance that defers the recognition of the tax effects of intra-entity asset transfers other than inventory until the transferred asset is sold to a third party. Under this guidance, an entity recognizes the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. The adoption of this guidance did not have an impact on the Company’s consolidated financial statements. Accounting Pronouncements Not Yet Adopted Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income In February 2018, the FASB issued amended guidance that permits an entity to reclassify the income tax effects of federal tax legislation enacted in December 2017 (the “Tax Reform Act”) on items within accumulated other comprehensive income to retained earnings. The Company is currently evaluating the impact of this guidance, which is effective for interim and annual periods beginning after December 15, 2018, with early adoption permitted. Targeted Improvements to Accounting for Hedging Activities In August 2017, the FASB issued amended guidance for hedge accounting, which expands the eligibility of hedging strategies that qualify for hedge accounting, modifies the recognition and presentation of hedges in the financial statements, and changes how companies assess hedge effectiveness. In addition, this guidance amends and expands disclosure requirements. This guidance, which is effective for interim and annual periods beginning after December 15, 2018, with early adoption permitted, is not expected to have a material impact on the Company’s consolidated financial statements. 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. This guidance is effective for the Company in the first quarter of 2019. The Company is currently reviewing its lease portfolio, evaluating the impact of this guidance on its consolidated balance sheet and assessing system requirements. The Company will apply the modified retrospective method of adoption as of January 1, 2019 and comparative periods will continue to be presented under existing lease guidance.

Basis of Presentation and Sum24

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Reconciliation from Basic to Diluted Shares	The table below presents a reconciliation of weighted average shares used in the calculation of basic and diluted EPS. Three Months Ended Six Months Ended June 30, June 30, (in millions) 2018 2017 2018 2017 Weighted average shares for basic EPS 378 405 380 407 Dilutive effect of shares issuable under stock-based compensation plans 3 5 3 6 Weighted average shares for diluted EPS 381 410 383 413

Stock-based Compensation (Table

Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based Compensation	The following table summarizes the Company’s stock-based compensation expense for the three and six months ended June 30, 2018 and 2017 . Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 RSUs and PSUs $ 41 $ 38 $ 79 $ 71 Stock options 6 7 12 14 Stock-based compensation expense, before income taxes 47 45 91 85 Related tax benefit (12 ) (18 ) (23 ) (33 ) Stock-based compensation expense, net of tax benefit $ 35 $ 27 $ 68 $ 52

Restructuring and Other Corpo26

Restructuring and Other Corporate Matters (Tables)	6 Months Ended
	Jun. 30, 2018
Restructuring Charges [Abstract]
Restructuring Reserve Rollforward	Balance at 2018 2018 Balance at December 31, 2017 Charges Settlements June 30, 2018 Entertainment $ 45 $ 6 $ (15 ) $ 36 Cable Networks 1 — (1 ) — Publishing 3 1 (1 ) 3 Local Media 14 11 (3 ) 22 Corporate 3 7 (1 ) 9 Total $ 66 $ 25 $ (21 ) $ 70 Balance at 2017 2017 Balance at December 31, 2016 Charges Settlements December 31, 2017 Entertainment $ 17 $ 44 $ (16 ) $ 45 Cable Networks 4 — (3 ) 1 Publishing 1 5 (3 ) 3 Local Media 6 12 (4 ) 14 Corporate 2 2 (1 ) 3 Total $ 30 $ 63 $ (27 ) $ 66

Programming and Other Invento27

Programming and Other Inventory (Tables)	6 Months Ended
	Jun. 30, 2018
Inventory Disclosure [Abstract]
Current Programming and Other Inventory	At At June 30, 2018 December 31, 2017 Acquired program rights $ 2,284 $ 2,234 Acquired television library 99 99 Internally produced programming: Released 2,148 1,780 In process and other 483 543 Publishing, primarily finished goods 59 53 Total programming and other inventory 5,073 4,709 Less current portion 1,876 1,828 Total noncurrent programming and other inventory $ 3,197 $ 2,881
Noncurrent Programming and Other Inventory	At At June 30, 2018 December 31, 2017 Acquired program rights $ 2,284 $ 2,234 Acquired television library 99 99 Internally produced programming: Released 2,148 1,780 In process and other 483 543 Publishing, primarily finished goods 59 53 Total programming and other inventory 5,073 4,709 Less current portion 1,876 1,828 Total noncurrent programming and other inventory $ 3,197 $ 2,881

Related Parties (Tables)

Related Parties (Tables)	6 Months Ended
	Jun. 30, 2018
Related Party Transactions [Abstract]
Amounts due from Viacom Inc.	The following table presents the amounts due from Viacom Inc. in the normal course of business as reflected on the Company’s Consolidated Balance Sheets. Amounts due to Viacom Inc. were minimal at June 30, 2018 and December 31, 2017 . At At June 30, 2018 December 31, 2017 Receivables $ 34 $ 93 Other assets (Receivables, noncurrent) 14 11 Total amounts due from Viacom $ 48 $ 104

Bank Financing and Debt (Tables

Bank Financing and Debt (Tables)	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Schedule of Debt	The following table sets forth the Company’s debt. At At June 30, 2018 December 31, 2017 Commercial paper $ 370 $ 679 Senior debt (2.30% - 7.875% due 2019 - 2045) (a) 9,430 9,426 Obligations under capital leases 50 57 Total debt 9,850 10,162 Less commercial paper 370 679 Less current portion of long-term debt 16 19 Total long-term debt, net of current portion $ 9,464 $ 9,464 (a) At June 30, 2018 and December 31, 2017 , the senior debt balances included (i) a net unamortized discount of $61 million and $65 million , respectively, (ii) unamortized deferred financing costs of $45 million and $47 million , respectively, and (iii) a decrease in the carrying value of the debt relating to previously settled fair value hedges of $4 million and $3 million , respectively. The face value of the Company’s senior debt was $9.54 billion at both June 30, 2018 and December 31, 2017 .

Pension and Other Postretirem30

Pension and Other Postretirement Benefits (Tables)	6 Months Ended
	Jun. 30, 2018
Retirement Benefits [Abstract]
Pension and Other Postretirement Benefits	The components of net periodic cost for the Company’s pension and postretirement benefit plans were as follows: Pension Benefits Postretirement Benefits Three Months Ended June 30, 2018 2017 2018 2017 Components of net periodic cost: Service cost $ 8 $ 8 $ — $ — Interest cost 37 47 4 5 Expected return on plan assets (45 ) (51 ) — — Amortization of actuarial loss (gain) (a) 24 26 (4 ) (6 ) Net periodic cost $ 24 $ 30 $ — $ (1 ) Pension Benefits Postretirement Benefits Six Months Ended June 30, 2018 2017 2018 2017 Components of net periodic cost: Service cost $ 16 $ 15 $ — $ — Interest cost 74 95 8 9 Expected return on plan assets (90 ) (101 ) — — Amortization of actuarial loss (gain) (a) 48 51 (9 ) (11 ) Net periodic cost $ 48 $ 60 $ (1 ) $ (2 ) (a) Reflects amounts reclassified from accumulated other comprehensive loss to net earnings (loss).

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2018
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 loss. Cumulative Translation Adjustments Net Actuarial Loss and Prior Service Cost Accumulated Other Comprehensive Loss At December 31, 2017 $ 159 $ (821 ) $ (662 ) Other comprehensive loss before reclassifications (14 ) — (14 ) Reclassifications to net earnings — 30 (a) 30 Net other comprehensive income (loss) (14 ) 30 16 At June 30, 2018 $ 145 $ (791 ) $ (646 ) Cumulative Translation Adjustments Net Actuarial Loss and Prior Service Cost Accumulated Other Comprehensive Loss At December 31, 2016 $ 151 $ (918 ) $ (767 ) Other comprehensive income before reclassifications 2 — 2 Reclassifications to net loss — 24 (a) 24 Net other comprehensive income 2 24 26 At June 30, 2017 $ 153 $ (894 ) $ (741 ) (a) Reflects amortization of net actuarial losses. See Note 7 .

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The provision for income taxes represents federal, state and local, and foreign income taxes on earnings from continuing operations before income taxes and equity in loss of investee companies. Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Provision for income taxes, including interest and before other discrete items (a) $ 112 $ 176 $ 250 $ 361 Excess tax benefits from stock-based compensation (b) — (4 ) — (31 ) Other discrete items (c) 1 (3 ) (2 ) (23 ) Provision for income taxes $ 113 $ 169 $ 248 $ 307 Effective income tax rate 21.2 % 29.2 % 20.8 % 25.9 % (a) The lower tax provision for the three and six months ended June 30, 2018 primarily reflects a reduction in the federal corporate income tax rate from 35% to 21% as a result of the enactment of new federal tax legislation in December 2017. (b) Reflects the difference between the tax benefit from stock-based compensation expense and the deduction on the tax return associated with the exercise of stock options and vesting of RSUs. This difference occurs because stock-based compensation expense is recorded based on the grant-date fair value of the award, whereas the tax deduction is based on the fair value on the date the stock option is exercised or the RSU vests. (c) For the six months ended June 30, 2017 , primarily reflects tax benefits from the resolution of certain state income tax matters.

Financial Instruments and Fai33

Financial Instruments and Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Financial Instruments	Gains (losses) recognized on derivative financial instruments were as follows: Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Financial Statement Account Non-designated foreign exchange contracts $ 17 $ (12 ) $ 13 $ (20 ) Other items, net
Fair Value Measurements	The following tables set forth the Company’s assets and liabilities measured at fair value on a recurring basis at June 30, 2018 and December 31, 2017 . These assets and liabilities have been categorized according to the three-level fair value hierarchy established by the FASB, which prioritizes the inputs used in measuring fair value. Level 1 is based on publicly quoted prices for the asset or liability in active markets. Level 2 is based on inputs that are observable other than quoted market prices in active markets, such as quoted prices for the asset or liability in inactive markets or quoted prices for similar assets or liabilities. Level 3 is based on unobservable inputs reflecting the Company’s own assumptions about the assumptions that market participants would use in pricing the asset or liability. At June 30, 2018 Level 1 Level 2 Level 3 Total Assets: Foreign currency hedges $ — $ 10 $ — $ 10 Total Assets $ — $ 10 $ — $ 10 Liabilities: Deferred compensation $ — $ 364 $ — $ 364 Foreign currency hedges — 2 — 2 Total Liabilities $ — $ 366 $ — $ 366 At December 31, 2017 Level 1 Level 2 Level 3 Total Assets: Foreign currency hedges $ — $ 5 $ — $ 5 Total Assets $ — $ 5 $ — $ 5 Liabilities: Deferred compensation $ — $ 363 $ — $ 363 Foreign currency hedges — 10 — 10 Total Liabilities $ — $ 373 $ — $ 373

Segment and Revenue Informati34

Segment and Revenue Information (Tables)	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Revenues by Segment	Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Revenues: Entertainment $ 2,365 $ 2,184 $ 5,081 $ 4,531 Cable Networks 591 571 1,200 1,114 Publishing 207 206 367 367 Local Media 420 412 835 821 Corporate/Eliminations (117 ) (116 ) (256 ) (233 ) Total Revenues $ 3,466 $ 3,257 $ 7,227 $ 6,600
Intercompany Revenues by Segment	Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Intercompany Revenues: Entertainment $ 120 $ 118 $ 259 $ 237 Local Media 5 3 10 6 Total Intercompany Revenues $ 125 $ 121 $ 269 $ 243
Segment Operating Income (Loss) and Reconciliation to Net Earnings (Loss)	Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Segment Operating Income (Loss): Entertainment $ 356 $ 351 $ 848 $ 754 Cable Networks 256 255 486 505 Publishing 31 29 47 44 Local Media 128 128 246 252 Corporate (77 ) (73 ) (152 ) (139 ) Restructuring and other corporate matters (35 ) — (44 ) — Operating income 659 690 1,431 1,416 Interest expense (116 ) (111 ) (234 ) (220 ) Interest income 14 15 31 28 Other items, net (24 ) (16 ) (35 ) (37 ) Earnings from continuing operations before income taxes and equity in loss of investee companies 533 578 1,193 1,187 Provision for income taxes (113 ) (169 ) (248 ) (307 ) Equity in loss of investee companies, net of tax (20 ) (12 ) (34 ) (29 ) Net earnings from continuing operations 400 397 911 851 Net loss from discontinued operations, net of tax — (339 ) — (1,045 ) Net earnings (loss) $ 400 $ 58 $ 911 $ (194 )
Depreciation and Amortization, Stock-based Compensation and Capital Expenditures	Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Depreciation and Amortization: Entertainment $ 31 $ 27 $ 61 $ 56 Cable Networks 5 6 11 12 Publishing 2 2 3 3 Local Media 11 12 22 23 Corporate 7 9 15 17 Total Depreciation and Amortization $ 56 $ 56 $ 112 $ 111 Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Stock-based Compensation: Entertainment $ 16 $ 17 $ 31 $ 32 Cable Networks 3 3 6 6 Publishing 1 1 2 2 Local Media 3 3 6 6 Corporate 24 21 46 39 Total Stock-based Compensation $ 47 $ 45 $ 91 $ 85 Three Months Ended Six Months Ended June 30, June 30, 2018 2017 2018 2017 Capital Expenditures: Entertainment $ 20 $ 24 $ 37 $ 38 Cable Networks 3 4 7 7 Publishing 1 — 2 1 Local Media 5 7 9 12 Corporate 3 6 7 10 Total Capital Expenditures $ 32 $ 41 $ 62 $ 68
Assets by Segment	At At June 30, 2018 December 31, 2017 Assets: Entertainment $ 12,236 $ 12,626 Cable Networks 2,938 2,878 Publishing 956 906 Local Media 3,993 4,042 Corporate/Eliminations 249 378 Discontinued operations 13 13 Total Assets $ 20,385 $ 20,843
Revenues by Type	The following table presents the Company’s revenues disaggregated into categories based on the nature of such revenues. Three Months Ended Six Months Ended June 30, June 30, Revenues by Type 2018 2017 2018 2017 Advertising $ 1,327 $ 1,299 $ 3,060 $ 2,902 Content licensing and distribution: Programming 889 850 1,724 1,534 Publishing 207 206 367 367 Affiliate and subscription fees 989 848 1,968 1,690 Other 54 54 108 107 Total Revenues $ 3,466 $ 3,257 $ 7,227 $ 6,600

Adoption of "Revenue From Con35

Adoption of "Revenue From Contracts With Customers" (Tables)	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Financial Statements Impacted by ASC 606	The following table presents the amount by which each applicable financial statement line item on the Consolidated Statement of Operations would have decreased for the three and six months ended June 30, 2018 if license renewals were recognized under previous accounting guidance. Three Months Ended Six Months Ended June 30, 2018 June 30, 2018 Revenues $ 29 $ 141 Operating expenses 14 63 Operating income 15 78 Less: Provision for income taxes 3 16 Net earnings from continuing operations $ 12 $ 62 Diluted EPS from continuing operations $ .03 $ .16 The following table presents the amount by which each applicable financial statement line item on the Consolidated Balance Sheet at June 30, 2018 would increase (decrease) if all of the above changes resulting from the adoption of ASC 606 were presented under previous accounting guidance. Assets Receivables, net $ (82 ) Programming and other inventory (noncurrent) $ (47 ) Other assets (noncurrent receivables) $ 436 Liabilities Other current liabilities $ (151 ) Deferred income tax liabilities, net $ 51 Participants’ share and royalties payable $ 208 Accumulated deficit $ 199

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
	Jun. 30, 2018
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Discontinued Operations	The following table sets forth details of net loss from discontinued operations for the three and six months ended June 30, 2017 . Three Months Ended Six Months Ended June 30, 2017 June 30, 2017 Revenues $ 306 $ 556 Costs and expenses: Operating 105 194 Selling, general and administrative 128 250 Market value adjustment (a) 365 1,080 Restructuring charges (b) 7 7 Total costs and expenses 605 1,531 Operating loss (299 ) (975 ) Interest expense (20 ) (39 ) Other items, net (1 ) (1 ) Loss from discontinued operations (320 ) (1,015 ) Income tax provision (19 ) (30 ) Net loss from discontinued operations, net of tax $ (339 ) $ (1,045 ) (a) During 2017, prior to its split-off, CBS Radio was measured each reporting period at the lower of its carrying amount or fair value less cost to sell. The value of the transaction with Entercom was determined based on Entercom’s stock price at the closing of the transaction and therefore, the Company recorded a market value adjustment to adjust the carrying value of CBS Radio to the value indicated by the stock valuation of Entercom. (b) Reflects restructuring charges associated with the reorganization of certain business operations, including severance costs and costs associated with exiting contractual obligations.

Condensed Consolidating Finan37

Condensed Consolidating Financial Statements (Tables)	6 Months Ended
	Jun. 30, 2018
Condensed Financial Information Disclosure [Abstract]
Condensed Consolidating Statements of Operations	Statement of Operations For the Three Months Ended June 30, 2018 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Revenues $ 44 $ 2 $ 3,420 $ — $ 3,466 Costs and expenses: Operating 23 1 2,160 — 2,184 Selling, general and administrative 12 68 452 — 532 Depreciation and amortization 1 5 50 — 56 Restructuring and other corporate matters — 16 19 — 35 Total costs and expenses 36 90 2,681 — 2,807 Operating income (loss) 8 (88 ) 739 — 659 Interest (expense) income, net (133 ) (126 ) 157 — (102 ) Other items, net (9 ) 14 (29 ) — (24 ) Earnings (loss) before income taxes and equity in earnings (loss) of investee companies (134 ) (200 ) 867 — 533 Benefit (provision) for income taxes 28 42 (183 ) — (113 ) Equity in earnings (loss) of investee companies, net of tax 506 344 (20 ) (850 ) (20 ) Net earnings $ 400 $ 186 $ 664 $ (850 ) $ 400 Total comprehensive income $ 407 $ 195 $ 644 $ (839 ) $ 407 Statement of Operations For the Six Months Ended June 30, 2018 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Revenues $ 87 $ 5 $ 7,135 $ — $ 7,227 Costs and expenses: Operating 48 2 4,534 — 4,584 Selling, general and administrative 25 132 899 — 1,056 Depreciation and amortization 2 11 99 — 112 Restructuring and other corporate matters — 25 19 — 44 Total costs and expenses 75 170 5,551 — 5,796 Operating income (loss) 12 (165 ) 1,584 — 1,431 Interest (expense) income, net (263 ) (248 ) 308 — (203 ) Other items, net (16 ) 12 (31 ) — (35 ) Earnings (loss) before income taxes and equity in earnings (loss) of investee companies (267 ) (401 ) 1,861 — 1,193 Benefit (provision) for income taxes 55 83 (386 ) — (248 ) Equity in earnings (loss) of investee companies, net of tax 1,123 756 (34 ) (1,879 ) (34 ) Net earnings $ 911 $ 438 $ 1,441 $ (1,879 ) $ 911 Total comprehensive income $ 927 $ 440 $ 1,424 $ (1,864 ) $ 927 Statement of Operations For the Three Months Ended June 30, 2017 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Revenues $ 42 $ 2 $ 3,213 $ — $ 3,257 Costs and expenses: Operating 22 2 1,980 — 2,004 Selling, general and administrative 14 65 428 — 507 Depreciation and amortization 1 6 49 — 56 Total costs and expenses 37 73 2,457 — 2,567 Operating income (loss) 5 (71 ) 756 — 690 Interest (expense) income, net (127 ) (120 ) 151 — (96 ) Other items, net (8 ) (15 ) 7 — (16 ) Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of investee companies (130 ) (206 ) 914 — 578 Benefit (provision) for income taxes 39 62 (270 ) — (169 ) Equity in earnings (loss) of investee companies, net of tax 149 339 (12 ) (488 ) (12 ) Net earnings from continuing operations 58 195 632 (488 ) 397 Net loss from discontinued operations, net of tax — — (339 ) — (339 ) Net earnings $ 58 $ 195 $ 293 $ (488 ) $ 58 Total comprehensive income $ 70 $ 190 $ 302 $ (492 ) $ 70 Statement of Operations For the Six Months Ended June 30, 2017 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Revenues $ 84 $ 5 $ 6,511 $ — $ 6,600 Costs and expenses: Operating 46 3 4,029 — 4,078 Selling, general and administrative 24 126 845 — 995 Depreciation and amortization 2 12 97 — 111 Total costs and expenses 72 141 4,971 — 5,184 Operating income (loss) 12 (136 ) 1,540 — 1,416 Interest (expense) income, net (249 ) (237 ) 294 — (192 ) Other items, net (18 ) (31 ) 12 — (37 ) Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of investee companies (255 ) (404 ) 1,846 — 1,187 Benefit (provision) for income taxes 77 122 (506 ) — (307 ) Equity in earnings (loss) of investee companies, net of tax (16 ) 693 (29 ) (677 ) (29 ) Net earnings (loss) from continuing operations (194 ) 411 1,311 (677 ) 851 Net loss from discontinued operations, net of tax — — (1,045 ) — (1,045 ) Net earnings (loss) $ (194 ) $ 411 $ 266 $ (677 ) $ (194 ) Total comprehensive income (loss) $ (168 ) $ 404 $ 281 $ (685 ) $ (168 )
Condensed Consolidating Balance Sheets	Balance Sheet At June 30, 2018 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Assets Cash and cash equivalents $ 106 $ — $ 146 $ — $ 252 Receivables, net 22 2 3,573 — 3,597 Programming and other inventory 2 2 1,872 — 1,876 Prepaid expenses and other current assets 19 36 301 (33 ) 323 Total current assets 149 40 5,892 (33 ) 6,048 Property and equipment 40 219 2,725 — 2,984 Less accumulated depreciation and amortization 22 174 1,551 — 1,747 Net property and equipment 18 45 1,174 — 1,237 Programming and other inventory 3 5 3,189 — 3,197 Goodwill 98 62 4,761 — 4,921 Intangible assets — — 2,655 — 2,655 Investments in consolidated subsidiaries 46,406 15,926 — (62,332 ) — Other assets 161 5 2,161 — 2,327 Intercompany — 902 30,712 (31,614 ) — Total Assets $ 46,835 $ 16,985 $ 50,544 $ (93,979 ) $ 20,385 Liabilities and Stockholders’ Equity Accounts payable $ 5 $ 11 $ 122 $ — $ 138 Participants’ share and royalties payable — — 1,071 — 1,071 Program rights 2 2 365 — 369 Commercial paper 370 — — — 370 Current portion of long-term debt 3 — 13 — 16 Accrued expenses and other current liabilities 478 235 1,140 (33 ) 1,820 Total current liabilities 858 248 2,711 (33 ) 3,784 Long-term debt 9,381 — 83 — 9,464 Other liabilities 2,815 230 1,925 — 4,970 Intercompany 31,614 — — (31,614 ) — Stockholders’ Equity: Preferred stock — — 126 (126 ) — Common stock 1 123 590 (713 ) 1 Additional paid-in capital 43,720 — 60,894 (60,894 ) 43,720 Retained earnings (accumulated deficit) (18,250 ) 16,695 (11,044 ) (5,651 ) (18,250 ) Accumulated other comprehensive income (loss) (646 ) 20 59 (79 ) (646 ) 24,825 16,838 50,625 (67,463 ) 24,825 Less treasury stock, at cost 22,658 331 4,800 (5,131 ) 22,658 Total Stockholders’ Equity 2,167 16,507 45,825 (62,332 ) 2,167 Total Liabilities and Stockholders’ Equity $ 46,835 $ 16,985 $ 50,544 $ (93,979 ) $ 20,385 Balance Sheet At December 31, 2017 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Assets Cash and cash equivalents $ 173 $ — $ 112 $ — $ 285 Receivables, net 29 2 3,666 — 3,697 Programming and other inventory 3 3 1,822 — 1,828 Prepaid expenses and other current assets 130 28 341 (36 ) 463 Total current assets 335 33 5,941 (36 ) 6,273 Property and equipment 49 217 2,785 — 3,051 Less accumulated depreciation and amortization 27 163 1,581 — 1,771 Net property and equipment 22 54 1,204 — 1,280 Programming and other inventory 3 4 2,874 — 2,881 Goodwill 98 62 4,731 — 4,891 Intangible assets — — 2,666 — 2,666 Investments in consolidated subsidiaries 45,504 15,225 — (60,729 ) — Other assets 162 5 2,685 — 2,852 Intercompany — 1,221 29,562 (30,783 ) — Total Assets $ 46,124 $ 16,604 $ 49,663 $ (91,548 ) $ 20,843 Liabilities and Stockholders ’ Equity Accounts payable $ 1 $ 30 $ 200 $ — $ 231 Participants’ share and royalties payable — — 986 — 986 Program rights 4 4 365 — 373 Commercial paper 679 — — — 679 Current portion of long-term debt 2 — 17 — 19 Accrued expenses and other current liabilities 352 269 1,099 (36 ) 1,684 Total current liabilities 1,038 303 2,667 (36 ) 3,972 Long-term debt 9,378 — 86 — 9,464 Other liabilities 2,947 234 2,248 — 5,429 Intercompany 30,783 — — (30,783 ) — Stockholders’ Equity: Preferred stock — — 126 (126 ) — Common stock 1 123 590 (713 ) 1 Additional paid-in capital 43,797 — 60,894 (60,894 ) 43,797 Retained earnings (accumulated deficit) (18,900 ) 16,257 (12,224 ) (4,033 ) (18,900 ) Accumulated other comprehensive income (loss) (662 ) 18 76 (94 ) (662 ) 24,236 16,398 49,462 (65,860 ) 24,236 Less treasury stock, at cost 22,258 331 4,800 (5,131 ) 22,258 Total Stockholders’ Equity 1,978 16,067 44,662 (60,729 ) 1,978 Total Liabilities and Stockholders’ Equity $ 46,124 $ 16,604 $ 49,663 $ (91,548 ) $ 20,843
Condensed Consolidating Statements of Cash Flows	Statement of Cash Flows For the Six Months Ended June 30, 2018 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Net cash flow (used for) provided by operating activities $ (234 ) $ (130 ) $ 1,407 $ — $ 1,043 Investing Activities: Investments in and advances to investee companies — — (71 ) — (71 ) Capital expenditures — (7 ) (55 ) — (62 ) Acquisitions — — (29 ) — (29 ) Other investing activities 2 — — — 2 Net cash flow provided by (used for) investing activities from continuing operations 2 (7 ) (155 ) — (160 ) Net cash flow used for investing activities from discontinued operations (23 ) — — — (23 ) Net cash flow used for investing activities (21 ) (7 ) (155 ) — (183 ) Financing Activities: Repayments of short-term debt borrowings, net (309 ) — — — (309 ) Payment of capital lease obligations — — (8 ) — (8 ) Payment of contingent consideration — — (5 ) — (5 ) Dividends (140 ) — — — (140 ) Purchase of Company common stock (394 ) — — — (394 ) Payment of payroll taxes in lieu of issuing shares for stock-based compensation (58 ) — — — (58 ) Proceeds from exercise of stock options 22 — — — 22 Other financing activities (1 ) — — — (1 ) Increase (decrease) in intercompany payables 1,068 137 (1,205 ) — — Net cash flow provided by (used for) financing activities 188 137 (1,218 ) — (893 ) Net (decrease) increase in cash and cash equivalents (67 ) — 34 — (33 ) Cash and cash equivalents at beginning of period 173 — 112 — 285 Cash and cash equivalents at end of period $ 106 $ — $ 146 $ — $ 252 Statement of Cash Flows For the Six Months Ended June 30, 2017 CBS Corp. CBS Operations Inc. Non- Guarantor Affiliates Eliminations CBS Corp. Consolidated Net cash flow (used for) provided by operating activities $ (608 ) $ (153 ) $ 1,699 $ — $ 938 Investing Activities: Investments in and advances to investee companies — — (65 ) — (65 ) Capital expenditures — (10 ) (58 ) — (68 ) Acquisitions — — (21 ) — (21 ) Other investing activities 14 — 1 — 15 Net cash flow provided by (used for) investing activities from continuing operations 14 (10 ) (143 ) — (139 ) Net cash flow used for investing activities from discontinued operations — (1 ) (12 ) — (13 ) Net cash flow provided by (used for) investing activities 14 (11 ) (155 ) — (152 ) Financing Activities: Repayments of short-term debt borrowings, net (187 ) — — — (187 ) Proceeds from debt borrowings of CBS Radio — — 24 — 24 Repayment of debt borrowings of CBS Radio — — (5 ) — (5 ) Payment of capital lease obligations — — (8 ) — (8 ) Payment of contingent consideration — — (7 ) — (7 ) Dividends (151 ) — — — (151 ) Purchase of Company common stock (845 ) — — — (845 ) Payment of payroll taxes in lieu of issuing shares for stock-based compensation (89 ) — — — (89 ) Proceeds from exercise of stock options 39 — — — 39 Increase (decrease) in intercompany payables 1,521 164 (1,685 ) — — Net cash flow (used for) provided by financing activities 288 164 (1,681 ) — (1,229 ) Net decrease in cash and cash equivalents (306 ) — (137 ) — (443 ) Cash and cash equivalents at beginning of period (includes $24 million of discontinued operations cash) 321 — 301 — 622 Cash and cash equivalents at end of period (includes $9 million of discontinued operations cash) $ 15 $ — $ 164 $ — $ 179

Basis of Presentation and Sum38

Basis of Presentation and Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Jan. 01, 2018
Revenues
Revenue recognized			$ 167
Additional Paid-In Capital
Dividends recorded on common stock	$ 69		$ 138	$ 148
Stock Options And Restricted Stock Units [Member]
Net Earnings (Loss) per Common Share
Antidilutive securities excluded from computation of earnings per share (in shares)	8		8
Stock Options [Member]
Net Earnings (Loss) per Common Share
Antidilutive securities excluded from computation of earnings per share (in shares)		4		4
Other Assets [Member]
Revenues
Noncurrent receivables	$ 1,540		$ 1,540		$ 1,590
Accrued Expenses and Other Current Liabilities [Member]
Revenues
Deferred revenue	$ 210		$ 210		$ 284
Television Licensing [Member] | Minimum [Member]
Revenues
Collection term			1 year
Television Licensing [Member] | Maximum [Member]
Revenues
Collection term			5 years

Basis of Presentation and Sum39

Basis of Presentation and Summary of Significant Accounting Policies (Unrecognized Revenues Under Contract) (Details) $ in Millions	Jun. 30, 2018USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Unrecognized revenue	$ 3,600
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-07-01
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Unrecognized revenue	$ 1,010
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Unrecognized revenue	$ 1,400
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Unrecognized revenue	$ 738
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-01-01
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Unrecognized revenue	$ 442
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction period

Basis of Presentation and Sum40

Basis of Presentation and Summary of Significant Accounting Policies (Earnings per Share) (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Weighted average shares for basic EPS (in shares)	378	405	380	407
Dilutive effect of shares issuable under stock-based compensation plans (in shares)	3	5	3	6
Weighted average shares for diluted EPS (in shares)	381	410	383	413

Basis of Presentation and Sum41

Basis of Presentation and Summary of Significant Accounting Policies (Recently Adopted Accounting Pronouncements Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Jan. 01, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accumulated deficit	$ 18,250		$ 18,250			$ 18,900
Selling, general and administrative	(532)	$ (507)	(1,056)	$ (995)
Other items, net	(24)	(16)	(35)	(37)
Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Selling, general and administrative		21		43
Other items, net		$ 21		$ 43
Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost | Other Items, Net [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net benefit cost	16		31
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | ASC 606 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accumulated deficit	$ (199)		$ (199)		$ 261

Stock-based Compensation (Detai

Stock-based Compensation (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
RSUs and PSUs	$ 41	$ 38	$ 79	$ 71
Stock options	6	7	12	14
Stock-based compensation expense, before income taxes	47	45	91	85
Related tax benefit	(12)	(18)	(23)	(33)
Stock-based compensation expense, net of tax benefit	$ 35	$ 27	$ 68	$ 52

Stock-based Compensation (Narra

Stock-based Compensation (Narrative) (Details) $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2018USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of RSUs granted during the period (in shares) | shares	3
Weighted average grant date fair value - RSUs (in dollars per share) | $ / shares	$ 53.95
Fair value of PSU awards	$ 17
Number of stock options granted during the period (in shares) | shares	2
Unrecognized future expense of RSUs and PSUs	$ 278
Unrecognized future expense of stock options	$ 50
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 6 months
Restricted Stock Units (RSUs) [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period over which grants vest	1 year
Percent of payout on stock-based compensation award	0.00%
Restricted Stock Units (RSUs) [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period over which grants vest	4 years
Percent of payout on stock-based compensation award	120.00%
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period over which grants vest	4 years
Weighted average per unit exercise price - options (in dollars per share) | $ / shares	$ 54.32
Term until expiration from grant date - options	8 years
Weighted average period to expense unrecognized stock-based compensation expense	2 years 9 months 18 days

Restructuring and Other Corpo44

Restructuring and Other Corporate Matters (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended		30 Months Ended
	Jun. 30, 2018	Jun. 30, 2018	Dec. 31, 2017	Dec. 31, 2016	Jun. 30, 2018
Restructuring Reserve
Beginning balance		$ 66	$ 30
Charges	$ 25	25	63	$ 30
Settlements		(21)	(27)		$ (48)
Ending balance	70	70	66	30	70
Other corporate matters, costs	10	19
Operating Segments [Member] | Entertainment [Member]
Restructuring Reserve
Beginning balance		45	17
Charges		6	44
Settlements		(15)	(16)
Ending balance	36	36	45	17	36
Operating Segments [Member] | Cable Networks [Member]
Restructuring Reserve
Beginning balance		1	4
Charges		0	0
Settlements		(1)	(3)
Ending balance	0	0	1	4	0
Operating Segments [Member] | Publishing [Member]
Restructuring Reserve
Beginning balance		3	1
Charges		1	5
Settlements		(1)	(3)
Ending balance	3	3	3	1	3
Operating Segments [Member] | Local Media [Member]
Restructuring Reserve
Beginning balance		14	6
Charges		11	12
Settlements		(3)	(4)
Ending balance	22	22	14	6	22
Corporate [Member]
Restructuring Reserve
Beginning balance		3	2
Charges		7	2
Settlements		(1)	(1)
Ending balance	9	$ 9	3	2	9
Severance Costs [Member]
Restructuring Reserve
Charges	17		54	19
Settlements					(42)
Exiting Contractual Obligations [Member]
Restructuring Reserve
Charges	$ 8		$ 9	$ 11
Settlements					$ (6)

Programming and Other Invento45

Programming and Other Inventory (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Acquired program rights	$ 2,284	$ 2,234
Acquired television library	99	99
Internally produced programming:
Released	2,148	1,780
In process and other	483	543
Publishing, primarily finished goods	59	53
Total programming and other inventory	5,073	4,709
Less current portion	1,876	1,828
Total noncurrent programming and other inventory	$ 3,197	$ 2,881

Related Parties (Details)

Related Parties (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018USD ($)interesttrustee	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)interesttrustee	Jun. 30, 2017USD ($)	Dec. 31, 2017USD ($)
Related Party Transaction [Line Items]
SMR Trust ownership in NAI	80.00%		80.00%
National Amusements, Inc. [Member]
Related Party Transaction [Line Items]
NAI ownership of CBS Corp. Class A Common Stock (percentage)	79.70%		79.70%
NAI ownership of CBS Corp. Class A and Class B Common Stock on a combined basis (percentage)	10.40%		10.40%
Number of trustees | trustee	7		7
Viacom Inc. [Member]
Related Party Transaction [Line Items]
Revenues from transactions with related parties	$ 10	$ 19	$ 29	$ 73
Expenses from transactions with related parties	6	4	12	9
Amounts due from Related Party
Receivables	34		34		$ 93
Other assets (Receivables, noncurrent)	14		14		11
Amounts due from related parties	48		48		104
Domestic and International Television Joint Ventures [Member]
Related Party Transaction [Line Items]
Revenues from transactions with related parties	22	$ 20	53	$ 49
Amounts due from Related Party
Amounts due from related parties	$ 16		$ 16		$ 27
Number of equity interests | interest	2		2

Bank Financing and Debt (Schedu

Bank Financing and Debt (Schedule of Debt) (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Commercial paper	$ 370	$ 679
Senior debt (2.30% - 7.875% due 2019 - 2045)	9,430	9,426
Obligations under capital leases	50	57
Total debt	9,850	10,162
Less commercial paper	370	679
Less current portion of long-term debt	16	19
Total long-term debt, net of current portion	9,464	9,464
Senior Debt [Member]
Debt Instrument [Line Items]
Net unamortized discount on senior debt	61	65
Unamortized deferred financing costs	45	47
Decrease to carrying value of debt relating to previously settled fair value hedges	4	3
Face value of debt	$ 9,540	$ 9,540
Senior Debt [Member] | Minimum [Member]
Debt Instrument [Line Items]
Stated interest rate	2.30%
Senior Debt [Member] | Maximum [Member]
Debt Instrument [Line Items]
Stated interest rate	7.875%

Bank Financing and Debt (Narrat

Bank Financing and Debt (Narrative) (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2018USD ($)	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Commercial paper	$ 370,000,000	$ 679,000,000
Commercial Paper [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity under credit facility	$ 2,500,000,000
Debt maturity, less than	90 days	90 days
Weighted average interest rate	2.42%	1.88%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity under credit facility	$ 2,500,000,000
Maximum consolidated leverage ratio	4.5
Consolidated leverage ratio	3
Period for Consolidated EBITDA	12 months
Amount borrowed under credit facility	$ 0
Availability under credit facility	$ 2,490,000,000

Pension and Other Postretirem49

Pension and Other Postretirement Benefits (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 8	$ 8	$ 16	$ 15
Interest cost	37	47	74	95
Expected return on plan assets	(45)	(51)	(90)	(101)
Amortization of actuarial loss (gain)	24	26	48	51
Net periodic cost	24	30	48	60
Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0	0	0
Interest cost	4	5	8	9
Expected return on plan assets	0	0	0	0
Amortization of actuarial loss (gain)	(4)	(6)	(9)	(11)
Net periodic cost	$ 0	$ (1)	$ (1)	$ (2)

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) $ / shares in Units, shares in Millions, $ in Millions	May 17, 2018	Jun. 30, 2018USD ($)$ / sharesshares	Jun. 30, 2017$ / shares	Jun. 30, 2018USD ($)$ / sharesshares	Jun. 30, 2017USD ($)$ / shares
Stockholders' Equity Note [Abstract]
Class B common stock repurchased under repurchase program (shares) | shares		3.8		7.6
Value of shares repurchased		$ 200		$ 400
Average price per share repurchased (in dollars per share) | $ / shares		$ 52.17		$ 52.42
Remaining authorization under share repurchase program		$ 2,660		$ 2,660
Dividends per common share (in dollars per share) | $ / shares		$ 0.18	$ 0.18	$ 0.36	$ 0.36
Dividends recorded on common stock		$ 69		$ 138	$ 148
Tax provision on net actuarial gain (loss) and prior service costs related to pension and other postretirement benefit plans				$ 9	$ 16
Related Party Transaction [Line Items]
Pro rata stock dividend declared	0.5687
Approval period	10 days
NAI [Member]
Related Party Transaction [Line Items]
NAI voting interest		79.70%		79.70%
Hypothetical ownership of Class A stock by controlling stockholder if dividend is approved		20.00%		20.00%

Stockholders' Equity (Accumulat

Stockholders' Equity (Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
AOCI Attributable to Parent, Net of Tax
Accumulated other comprehensive income (loss) beginning balance			$ (662)	$ (767)
Other comprehensive income (loss) before reclassifications			(14)	2
Reclassifications to net earnings (loss)			30	24
Total other comprehensive income, net of tax	$ 7	$ 12	16	26
Accumulated other comprehensive income (loss) ending balance	(646)	(741)	(646)	(741)
Cumulative Translation Adjustments [Member]
AOCI Attributable to Parent, Net of Tax
Accumulated other comprehensive income (loss) beginning balance			159	151
Other comprehensive income (loss) before reclassifications			(14)	2
Reclassifications to net earnings (loss)			0	0
Total other comprehensive income, net of tax			(14)	2
Accumulated other comprehensive income (loss) ending balance	145	153	145	153
Net Actuarial Loss and Prior Service Cost [Member]
AOCI Attributable to Parent, Net of Tax
Accumulated other comprehensive income (loss) beginning balance			(821)	(918)
Other comprehensive income (loss) before reclassifications			0	0
Reclassifications to net earnings (loss)			30	24
Total other comprehensive income, net of tax			30	24
Accumulated other comprehensive income (loss) ending balance	$ (791)	$ (894)	$ (791)	$ (894)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Provision for income taxes, including interest and before other discrete items	$ 112	$ 176	$ 250	$ 361
Excess tax benefits from stock-based compensation	0	(4)	0	(31)
Other discrete items	1	(3)	(2)	(23)
Provision for income taxes	$ 113	$ 169	$ 248	$ 307
Effective income tax rate	21.20%	29.20%	20.80%	25.90%

Financial Instruments and Fai53

Financial Instruments and Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Derivative [Line Items]
Carrying value of senior debt	$ 9,430	$ 9,426
Cash Flow Hedging [Member] | Foreign exchange contracts [Member]
Derivative [Line Items]
Maximum derivative contract term	24 months
Notional amount of derivative	$ 381	410
Senior Debt [Member]
Derivative [Line Items]
Fair value of senior debt	$ 9,580	$ 10,160

Financial Instruments and Fai54

Financial Instruments and Fair Value Measurements (Gain (Losses) Recognized on Derivative Financial Instruments) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Foreign exchange contracts [Member]
Derivatives [Line Items]
Non-designated foreign exchange contracts	$ 17	$ (12)	$ 13	$ (20)

Financial Instruments and Fai55

Financial Instruments and Fair Value Measurements (Fair Value of Assets and Liabilities) (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Assets:
Foreign currency hedges	$ 10	$ 5
Total Assets	10	5
Liabilities:
Deferred compensation	364	363
Foreign currency hedges	2	10
Total Liabilities	366	373
Level 1 [Member]
Assets:
Foreign currency hedges	0	0
Total Assets	0	0
Liabilities:
Deferred compensation	0	0
Foreign currency hedges	0	0
Total Liabilities	0	0
Level 2 [Member]
Assets:
Foreign currency hedges	10	5
Total Assets	10	5
Liabilities:
Deferred compensation	364	363
Foreign currency hedges	2	10
Total Liabilities	366	373
Level 3 [Member]
Assets:
Foreign currency hedges	0	0
Total Assets	0	0
Liabilities:
Deferred compensation	0	0
Foreign currency hedges	0	0
Total Liabilities	$ 0	$ 0

Segment and Revenue Informati56

Segment and Revenue Information (Revenues) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 3,466	$ 3,257	$ 7,227	$ 6,600
Operating Segments [Member] | Entertainment [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	2,365	2,184	5,081	4,531
Operating Segments [Member] | Cable Networks [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	591	571	1,200	1,114
Operating Segments [Member] | Publishing [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	207	206	367	367
Operating Segments [Member] | Local Media [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	420	412	835	821
Corporate and Eliminations [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	(117)	(116)	(256)	(233)
Intersegment Eliminations [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	(125)	(121)	(269)	(243)
Intersegment Eliminations [Member] | Entertainment [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	(120)	(118)	(259)	(237)
Intersegment Eliminations [Member] | Local Media [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ (5)	$ (3)	$ (10)	$ (6)

Segment and Revenue Informati57

Segment and Revenue Information (Operating Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting Information [Line Items]
Operating income (loss)	$ 659	$ 690	$ 1,431	$ 1,416
Restructuring and other corporate matters	(35)	0	(44)	0
Interest expense	(116)	(111)	(234)	(220)
Interest income	14	15	31	28
Other items, net	(24)	(16)	(35)	(37)
Earnings (loss) before income taxes and equity in earnings (loss) of investee companies	533	578	1,193	1,187
Provision for income taxes	(113)	(169)	(248)	(307)
Equity in loss of investee companies, net of tax	(20)	(12)	(34)	(29)
Net earnings from continuing operations	400	397	911	851
Net loss from discontinued operations, net of tax	0	(339)	0	(1,045)
Net earnings (loss)	400	58	911	(194)
Operating Segments [Member] | Entertainment [Member]
Segment Reporting Information [Line Items]
Operating income (loss)	356	351	848	754
Operating Segments [Member] | Cable Networks [Member]
Segment Reporting Information [Line Items]
Operating income (loss)	256	255	486	505
Operating Segments [Member] | Publishing [Member]
Segment Reporting Information [Line Items]
Operating income (loss)	31	29	47	44
Operating Segments [Member] | Local Media [Member]
Segment Reporting Information [Line Items]
Operating income (loss)	128	128	246	252
Corporate [Member]
Segment Reporting Information [Line Items]
Operating income (loss)	(77)	(73)	(152)	(139)
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Restructuring and other corporate matters	$ (35)	$ 0	$ (44)	$ 0

Segment and Revenue Informati58

Segment and Revenue Information (Depreciation and Amortization) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 56	$ 56	$ 112	$ 111
Operating Segments [Member] | Entertainment [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	31	27	61	56
Operating Segments [Member] | Cable Networks [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	5	6	11	12
Operating Segments [Member] | Publishing [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	2	2	3	3
Operating Segments [Member] | Local Media [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	11	12	22	23
Corporate [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 7	$ 9	$ 15	$ 17

Segment and Revenue Informati59

Segment and Revenue Information (Stock-based Compensation) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting Information [Line Items]
Stock-based compensation	$ 47	$ 45	$ 91	$ 85
Operating Segments [Member] | Entertainment [Member]
Segment Reporting Information [Line Items]
Stock-based compensation	16	17	31	32
Operating Segments [Member] | Cable Networks [Member]
Segment Reporting Information [Line Items]
Stock-based compensation	3	3	6	6
Operating Segments [Member] | Publishing [Member]
Segment Reporting Information [Line Items]
Stock-based compensation	1	1	2	2
Operating Segments [Member] | Local Media [Member]
Segment Reporting Information [Line Items]
Stock-based compensation	3	3	6	6
Corporate [Member]
Segment Reporting Information [Line Items]
Stock-based compensation	$ 24	$ 21	$ 46	$ 39

Segment and Revenue Informati60

Segment and Revenue Information (Capital Expenditures) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting Information [Line Items]
Capital expenditures	$ 32	$ 41	$ 62	$ 68
Operating Segments [Member] | Entertainment [Member]
Segment Reporting Information [Line Items]
Capital expenditures	20	24	37	38
Operating Segments [Member] | Cable Networks [Member]
Segment Reporting Information [Line Items]
Capital expenditures	3	4	7	7
Operating Segments [Member] | Publishing [Member]
Segment Reporting Information [Line Items]
Capital expenditures	1	0	2	1
Operating Segments [Member] | Local Media [Member]
Segment Reporting Information [Line Items]
Capital expenditures	5	7	9	12
Corporate [Member]
Segment Reporting Information [Line Items]
Capital expenditures	$ 3	$ 6	$ 7	$ 10

Segment and Revenue Informati61

Segment and Revenue Information (Assets) (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Assets	$ 20,385	$ 20,843
Assets of discontinued operations	13	13
Operating Segments [Member] | Entertainment [Member]
Segment Reporting Information [Line Items]
Assets	12,236	12,626
Operating Segments [Member] | Cable Networks [Member]
Segment Reporting Information [Line Items]
Assets	2,938	2,878
Operating Segments [Member] | Publishing [Member]
Segment Reporting Information [Line Items]
Assets	956	906
Operating Segments [Member] | Local Media [Member]
Segment Reporting Information [Line Items]
Assets	3,993	4,042
Corporate and Eliminations [Member]
Segment Reporting Information [Line Items]
Assets	$ 249	$ 378

Segment and Revenue Informati62

Segment and Revenue Information (Revenues by Type) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Disaggregation of Revenue [Line Items]
Revenue	$ 3,466	$ 3,257	$ 7,227	$ 6,600
Advertising [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,327	1,299	3,060	2,902
Programming [Member]
Disaggregation of Revenue [Line Items]
Revenue	889	850	1,724	1,534
Publishing [Member]
Disaggregation of Revenue [Line Items]
Revenue	207	206	367	367
Affiliate and Subscription Fees [Member]
Disaggregation of Revenue [Line Items]
Revenue	989	848	1,968	1,690
Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 54	$ 54	$ 108	$ 107

Adoption of "Revenue From Con63

Adoption of "Revenue From Contracts With Customers" (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Jan. 01, 2018	Dec. 31, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Accumulated deficit	$ 18,250,000,000		$ 18,250,000,000			$ 18,900,000,000
Revenue	3,466,000,000	$ 3,257,000,000	7,227,000,000	$ 6,600,000,000
Operating income	659,000,000	690,000,000	1,431,000,000	1,416,000,000
Operating expenses	2,184,000,000	$ 2,004,000,000	4,584,000,000	$ 4,078,000,000
ASC 606 [Member] | Other Current Liabilities [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Sales return reserve	108,000,000		108,000,000
ASC 606 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Accumulated deficit	(199,000,000)		(199,000,000)		$ 261,000,000
Distribution Arrangements [Member] | ASC 606 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue	61,000,000		124,000,000
Operating income			0
Operating expenses	$ 61,000,000		$ 124,000,000

Adoption of "Revenue From Con64

Adoption of "Revenue From Contracts With Customers" (Statement of Operations) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	$ 3,466	$ 3,257	$ 7,227	$ 6,600
Operating expenses	2,184	2,004	4,584	4,078
Operating income (loss)	659	690	1,431	1,416
Less: Provision for income taxes	113	169	248	307
Net earnings from continuing operations	$ 400	$ 397	$ 911	$ 851
Diluted net earnings from continuing operations (in dollars per share)	$ 1.05	$ 0.97	$ 2.38	$ 2.06
Renewal of Licensing Agreements [Member] | ASC 606 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	$ 29		$ 141
Operating expenses	14		63
Operating income (loss)	15		78
Less: Provision for income taxes	3		16
Net earnings from continuing operations	$ 12		$ 62
Diluted net earnings from continuing operations (in dollars per share)	$ 0.03		$ 0.16

Adoption of "Revenue From Con65

Adoption of "Revenue From Contracts With Customers" (Balance Sheet) (Details) - USD ($) $ in Millions	Jun. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
ASSETS
Receivables, net	$ 3,597		$ 3,697
Programming and other inventory	3,197		2,881
Other assets (noncurrent receivables)	2,327		2,852
Liabilities
Other current liabilities	1,466		1,341
Deferred income tax liabilities, net	454		480
Accumulated deficit	(18,250)		$ (18,900)
ASC 606 [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
ASSETS
Receivables, net	(82)
Programming and other inventory	(47)
Other assets (noncurrent receivables)	436
Liabilities
Other current liabilities	(151)
Deferred income tax liabilities, net	51
Participants’ share and royalties payable	208
Accumulated deficit	$ 199	$ (261)

Discontinued Operations (Narrat

Discontinued Operations (Narrative) (Details) - CBS Radio [Member] - Discontinued Operations [Member] shares in Millions	Nov. 16, 2017shares
Common Class B [Member]
Discontinued Operations [Line Items]
Shares received in exchange offer	17.9
Common Stock [Member]
Discontinued Operations [Line Items]
Shares exchanged in exchange offer	101.4

Discontinued Operations (Net Ea

Discontinued Operations (Net Earnings (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Costs and expenses:
Net loss from discontinued operations, net of tax	$ 0	$ (339)	$ 0	$ (1,045)
CBS Radio [Member] | Discontinued Operations [Member]
Discontinued Operations [Line Items]
Revenues		306		556
Costs and expenses:
Operating		105		194
Selling, general and administrative		128		250
Market value adjustment		365		1,080
Restructuring charges		7		7
Total costs and expenses		605		1,531
Operating loss		(299)		(975)
Interest expense		(20)		(39)
Other items, net		(1)		(1)
Loss from discontinued operations		(320)		(1,015)
Income tax provision		(19)		(30)
Net loss from discontinued operations, net of tax		$ (339)		$ (1,045)

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2018USD ($)claim	Dec. 31, 2017USD ($)claim	Dec. 31, 2016USD ($)	May 17, 2018	Jun. 30, 2017claim
Commitments and Contingencies Disclosure [Abstract]
Outstanding letters of credit and surety bonds | $	$ 107
Pro rata stock dividend declared				0.5687
Loss Contingencies [Line Items]
Costs for (recoveries from) settlement and defense of asbestos claims, net of insurance recoveries and taxes | $		$ 57	$ 48
Asbestos Claims [Member]
Loss Contingencies [Line Items]
Number of pending asbestos claims	31,750	31,660			33,240
Number of new asbestos claims	860
Number of asbestos claims closed or moved to inactive docket	710

Condensed Consolidating Finan69

Condensed Consolidating Financial Statements (Statement of Operations) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Condensed Income Statements, Captions [Line Items]
Revenues	$ 3,466	$ 3,257	$ 7,227	$ 6,600
Costs and expenses:
Operating	2,184	2,004	4,584	4,078
Selling, general and administrative	532	507	1,056	995
Depreciation and amortization	56	56	112	111
Restructuring and other corporate matters	35	0	44	0
Total costs and expenses	2,807	2,567	5,796	5,184
Operating income (loss)	659	690	1,431	1,416
Interest (expense) income, net	(102)	(96)	(203)	(192)
Other items, net	(24)	(16)	(35)	(37)
Earnings (loss) before income taxes and equity in earnings (loss) of investee companies	533	578	1,193	1,187
Benefit (provision) for income taxes	(113)	(169)	(248)	(307)
Equity in earnings (loss) of investee companies, net of tax	(20)	(12)	(34)	(29)
Net earnings from continuing operations	400	397	911	851
Net loss from discontinued operations, net of tax	0	(339)	0	(1,045)
Net earnings (loss)	400	58	911	(194)
Total comprehensive income (loss)	407	70	927	(168)
Eliminations [Member]
Condensed Income Statements, Captions [Line Items]
Revenues	0	0	0	0
Costs and expenses:
Operating	0	0	0	0
Selling, general and administrative	0	0	0	0
Depreciation and amortization	0	0	0	0
Restructuring and other corporate matters	0		0
Total costs and expenses	0	0	0	0
Operating income (loss)	0	0	0	0
Interest (expense) income, net	0	0	0	0
Other items, net	0	0	0	0
Earnings (loss) before income taxes and equity in earnings (loss) of investee companies	0	0	0	0
Benefit (provision) for income taxes	0	0	0	0
Equity in earnings (loss) of investee companies, net of tax	(850)	(488)	(1,879)	(677)
Net earnings from continuing operations		(488)		(677)
Net loss from discontinued operations, net of tax		0		0
Net earnings (loss)	(850)	(488)	(1,879)	(677)
Total comprehensive income (loss)	(839)	(492)	(1,864)	(685)
CBS Corp. [Member]
Condensed Income Statements, Captions [Line Items]
Revenues	44	42	87	84
Costs and expenses:
Operating	23	22	48	46
Selling, general and administrative	12	14	25	24
Depreciation and amortization	1	1	2	2
Restructuring and other corporate matters	0		0
Total costs and expenses	36	37	75	72
Operating income (loss)	8	5	12	12
Interest (expense) income, net	(133)	(127)	(263)	(249)
Other items, net	(9)	(8)	(16)	(18)
Earnings (loss) before income taxes and equity in earnings (loss) of investee companies	(134)	(130)	(267)	(255)
Benefit (provision) for income taxes	28	39	55	77
Equity in earnings (loss) of investee companies, net of tax	506	149	1,123	(16)
Net earnings from continuing operations		58		(194)
Net loss from discontinued operations, net of tax		0		0
Net earnings (loss)	400	58	911	(194)
Total comprehensive income (loss)	407	70	927	(168)
CBS Operations Inc. [Member]
Condensed Income Statements, Captions [Line Items]
Revenues	2	2	5	5
Costs and expenses:
Operating	1	2	2	3
Selling, general and administrative	68	65	132	126
Depreciation and amortization	5	6	11	12
Restructuring and other corporate matters	16		25
Total costs and expenses	90	73	170	141
Operating income (loss)	(88)	(71)	(165)	(136)
Interest (expense) income, net	(126)	(120)	(248)	(237)
Other items, net	14	(15)	12	(31)
Earnings (loss) before income taxes and equity in earnings (loss) of investee companies	(200)	(206)	(401)	(404)
Benefit (provision) for income taxes	42	62	83	122
Equity in earnings (loss) of investee companies, net of tax	344	339	756	693
Net earnings from continuing operations		195		411
Net loss from discontinued operations, net of tax		0		0
Net earnings (loss)	186	195	438	411
Total comprehensive income (loss)	195	190	440	404
Non-Guarantor Affiliates [Member]
Condensed Income Statements, Captions [Line Items]
Revenues	3,420	3,213	7,135	6,511
Costs and expenses:
Operating	2,160	1,980	4,534	4,029
Selling, general and administrative	452	428	899	845
Depreciation and amortization	50	49	99	97
Restructuring and other corporate matters	19		19
Total costs and expenses	2,681	2,457	5,551	4,971
Operating income (loss)	739	756	1,584	1,540
Interest (expense) income, net	157	151	308	294
Other items, net	(29)	7	(31)	12
Earnings (loss) before income taxes and equity in earnings (loss) of investee companies	867	914	1,861	1,846
Benefit (provision) for income taxes	(183)	(270)	(386)	(506)
Equity in earnings (loss) of investee companies, net of tax	(20)	(12)	(34)	(29)
Net earnings from continuing operations		632		1,311
Net loss from discontinued operations, net of tax		(339)		(1,045)
Net earnings (loss)	664	293	1,441	266
Total comprehensive income (loss)	$ 644	$ 302	$ 1,424	$ 281

Condensed Consolidating Finan70

Condensed Consolidating Financial Statements (Balance Sheet) (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents	$ 252	$ 285
Receivables, net	3,597	3,697
Programming and other inventory	1,876	1,828
Prepaid expenses and other current assets	323	463
Total current assets	6,048	6,273
Property and equipment	2,984	3,051
Less accumulated depreciation and amortization	1,747	1,771
Net property and equipment	1,237	1,280
Programming and other inventory	3,197	2,881
Goodwill	4,921	4,891
Intangible assets	2,655	2,666
Investments in consolidated subsidiaries	0	0
Other assets	2,327	2,852
Intercompany	0	0
Total Assets	20,385	20,843
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable	138	231
Participants’ share and royalties payable	1,071	986
Program rights	369	373
Commercial paper	370	679
Current portion of long-term debt	16	19
Accrued expenses and other current liabilities	1,820	1,684
Total current liabilities	3,784	3,972
Long-term debt	9,464	9,464
Other liabilities	4,970	5,429
Intercompany	0	0
Stockholders’ Equity:
Preferred stock	0	0
Common stock	1	1
Additional paid-in capital	43,720	43,797
Retained earnings (accumulated deficit)	(18,250)	(18,900)
Accumulated other comprehensive income (loss)	(646)	(662)	$ (741)	$ (767)
Stockholders' equity including treasury stock	24,825	24,236
Less treasury stock, at cost	22,658	22,258
Total Stockholders’ Equity	2,167	1,978
Total Liabilities and Stockholders’ Equity	20,385	20,843
Eliminations [Member]
ASSETS
Cash and cash equivalents	0	0
Receivables, net	0	0
Programming and other inventory	0	0
Prepaid expenses and other current assets	(33)	(36)
Total current assets	(33)	(36)
Property and equipment	0	0
Less accumulated depreciation and amortization	0	0
Net property and equipment	0	0
Programming and other inventory	0	0
Goodwill	0	0
Intangible assets	0	0
Investments in consolidated subsidiaries	(62,332)	(60,729)
Other assets	0	0
Intercompany	(31,614)	(30,783)
Total Assets	(93,979)	(91,548)
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable	0	0
Participants’ share and royalties payable	0	0
Program rights	0	0
Commercial paper	0	0
Current portion of long-term debt	0	0
Accrued expenses and other current liabilities	(33)	(36)
Total current liabilities	(33)	(36)
Long-term debt	0	0
Other liabilities	0	0
Intercompany	(31,614)	(30,783)
Stockholders’ Equity:
Preferred stock	(126)	(126)
Common stock	(713)	(713)
Additional paid-in capital	(60,894)	(60,894)
Retained earnings (accumulated deficit)	(5,651)	(4,033)
Accumulated other comprehensive income (loss)	(79)	(94)
Stockholders' equity including treasury stock	(67,463)	(65,860)
Less treasury stock, at cost	(5,131)	(5,131)
Total Stockholders’ Equity	(62,332)	(60,729)
Total Liabilities and Stockholders’ Equity	(93,979)	(91,548)
CBS Corp. [Member]
ASSETS
Cash and cash equivalents	106	173
Receivables, net	22	29
Programming and other inventory	2	3
Prepaid expenses and other current assets	19	130
Total current assets	149	335
Property and equipment	40	49
Less accumulated depreciation and amortization	22	27
Net property and equipment	18	22
Programming and other inventory	3	3
Goodwill	98	98
Intangible assets	0	0
Investments in consolidated subsidiaries	46,406	45,504
Other assets	161	162
Intercompany	0	0
Total Assets	46,835	46,124
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable	5	1
Participants’ share and royalties payable	0	0
Program rights	2	4
Commercial paper	370	679
Current portion of long-term debt	3	2
Accrued expenses and other current liabilities	478	352
Total current liabilities	858	1,038
Long-term debt	9,381	9,378
Other liabilities	2,815	2,947
Intercompany	31,614	30,783
Stockholders’ Equity:
Preferred stock	0	0
Common stock	1	1
Additional paid-in capital	43,720	43,797
Retained earnings (accumulated deficit)	(18,250)	(18,900)
Accumulated other comprehensive income (loss)	(646)	(662)
Stockholders' equity including treasury stock	24,825	24,236
Less treasury stock, at cost	22,658	22,258
Total Stockholders’ Equity	2,167	1,978
Total Liabilities and Stockholders’ Equity	46,835	46,124
CBS Operations Inc. [Member]
ASSETS
Cash and cash equivalents	0	0
Receivables, net	2	2
Programming and other inventory	2	3
Prepaid expenses and other current assets	36	28
Total current assets	40	33
Property and equipment	219	217
Less accumulated depreciation and amortization	174	163
Net property and equipment	45	54
Programming and other inventory	5	4
Goodwill	62	62
Intangible assets	0	0
Investments in consolidated subsidiaries	15,926	15,225
Other assets	5	5
Intercompany	902	1,221
Total Assets	16,985	16,604
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable	11	30
Participants’ share and royalties payable	0	0
Program rights	2	4
Commercial paper	0	0
Current portion of long-term debt	0	0
Accrued expenses and other current liabilities	235	269
Total current liabilities	248	303
Long-term debt	0	0
Other liabilities	230	234
Intercompany	0	0
Stockholders’ Equity:
Preferred stock	0	0
Common stock	123	123
Additional paid-in capital	0	0
Retained earnings (accumulated deficit)	16,695	16,257
Accumulated other comprehensive income (loss)	20	18
Stockholders' equity including treasury stock	16,838	16,398
Less treasury stock, at cost	331	331
Total Stockholders’ Equity	16,507	16,067
Total Liabilities and Stockholders’ Equity	16,985	16,604
Non-Guarantor Affiliates [Member]
ASSETS
Cash and cash equivalents	146	112
Receivables, net	3,573	3,666
Programming and other inventory	1,872	1,822
Prepaid expenses and other current assets	301	341
Total current assets	5,892	5,941
Property and equipment	2,725	2,785
Less accumulated depreciation and amortization	1,551	1,581
Net property and equipment	1,174	1,204
Programming and other inventory	3,189	2,874
Goodwill	4,761	4,731
Intangible assets	2,655	2,666
Investments in consolidated subsidiaries	0	0
Other assets	2,161	2,685
Intercompany	30,712	29,562
Total Assets	50,544	49,663
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable	122	200
Participants’ share and royalties payable	1,071	986
Program rights	365	365
Commercial paper	0	0
Current portion of long-term debt	13	17
Accrued expenses and other current liabilities	1,140	1,099
Total current liabilities	2,711	2,667
Long-term debt	83	86
Other liabilities	1,925	2,248
Intercompany	0	0
Stockholders’ Equity:
Preferred stock	126	126
Common stock	590	590
Additional paid-in capital	60,894	60,894
Retained earnings (accumulated deficit)	(11,044)	(12,224)
Accumulated other comprehensive income (loss)	59	76
Stockholders' equity including treasury stock	50,625	49,462
Less treasury stock, at cost	4,800	4,800
Total Stockholders’ Equity	45,825	44,662
Total Liabilities and Stockholders’ Equity	$ 50,544	$ 49,663

Condensed Consolidating Finan71

Condensed Consolidating Financial Statements (Statement of Cash Flow) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2016
Condensed Financial Statements, Captions [Line Items]
Net cash flow (used for) provided by operating activities			$ 1,043	$ 938
Investing Activities:
Investments in and advances to investee companies			(71)	(65)
Capital expenditures	$ (32)	$ (41)	(62)	(68)
Acquisitions			(29)	(21)
Other investing activities			2	15
Net cash flow used for investing activities from continuing operations			(160)	(139)
Net cash flow used for investing activities from discontinued operations			(23)	(13)
Net cash flow used for investing activities			(183)	(152)
Financing Activities:
Repayments of short-term debt borrowings, net			(309)	(187)
Proceeds from debt borrowings of CBS Radio			0	24
Repayment of debt borrowings of CBS Radio			0	(5)
Payment of capital lease obligations			(8)	(8)
Payment of contingent consideration			(5)	(7)
Dividends			(140)	(151)
Purchase of Company common stock			(394)	(845)
Payment of payroll taxes in lieu of issuing shares for stock-based compensation			(58)	(89)
Proceeds from exercise of stock options			22	39
Other financing activities			(1)	0
Increase (decrease) in intercompany payables			0	0
Net cash flow (used for) provided by financing activities			(893)	(1,229)
Net decrease in cash and cash equivalents			(33)	(443)
Cash and cash equivalents at beginning of period (includes $24 (2017) of discontinued operations cash)			285	622
Cash and cash equivalents at end of period (includes $9 (2017) of discontinued operations cash)	252	179	252	179
Cash and cash equivalents of discontinued operations		9		9	$ 24
Eliminations [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash flow (used for) provided by operating activities			0	0
Investing Activities:
Investments in and advances to investee companies			0	0
Capital expenditures			0	0
Acquisitions			0	0
Other investing activities			0	0
Net cash flow used for investing activities from continuing operations			0	0
Net cash flow used for investing activities from discontinued operations			0	0
Net cash flow used for investing activities			0	0
Financing Activities:
Repayments of short-term debt borrowings, net			0	0
Proceeds from debt borrowings of CBS Radio				0
Repayment of debt borrowings of CBS Radio				0
Payment of capital lease obligations			0	0
Payment of contingent consideration			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
Other financing activities			0
Increase (decrease) in intercompany payables			0	0
Net cash flow (used for) provided by financing activities			0	0
Net decrease in cash and cash equivalents			0	0
Cash and cash equivalents at beginning of period (includes $24 (2017) of discontinued operations cash)			0	0
Cash and cash equivalents at end of period (includes $9 (2017) of discontinued operations cash)	0	0	0	0
CBS Corp. [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash flow (used for) provided by operating activities			(234)	(608)
Investing Activities:
Investments in and advances to investee companies			0	0
Capital expenditures			0	0
Acquisitions			0	0
Other investing activities			2	14
Net cash flow used for investing activities from continuing operations			2	14
Net cash flow used for investing activities from discontinued operations			(23)	0
Net cash flow used for investing activities			(21)	14
Financing Activities:
Repayments of short-term debt borrowings, net			(309)	(187)
Proceeds from debt borrowings of CBS Radio				0
Repayment of debt borrowings of CBS Radio				0
Payment of capital lease obligations			0	0
Payment of contingent consideration			0	0
Dividends			(140)	(151)
Purchase of Company common stock			(394)	(845)
Payment of payroll taxes in lieu of issuing shares for stock-based compensation			(58)	(89)
Proceeds from exercise of stock options			22	39
Other financing activities			(1)
Increase (decrease) in intercompany payables			1,068	1,521
Net cash flow (used for) provided by financing activities			188	288
Net decrease in cash and cash equivalents			(67)	(306)
Cash and cash equivalents at beginning of period (includes $24 (2017) of discontinued operations cash)			173	321
Cash and cash equivalents at end of period (includes $9 (2017) of discontinued operations cash)	106	15	106	15
CBS Operations Inc. [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash flow (used for) provided by operating activities			(130)	(153)
Investing Activities:
Investments in and advances to investee companies			0	0
Capital expenditures			(7)	(10)
Acquisitions			0	0
Other investing activities			0	0
Net cash flow used for investing activities from continuing operations			(7)	(10)
Net cash flow used for investing activities from discontinued operations			0	(1)
Net cash flow used for investing activities			(7)	(11)
Financing Activities:
Repayments of short-term debt borrowings, net			0	0
Proceeds from debt borrowings of CBS Radio				0
Repayment of debt borrowings of CBS Radio				0
Payment of capital lease obligations			0	0
Payment of contingent consideration			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
Other financing activities			0
Increase (decrease) in intercompany payables			137	164
Net cash flow (used for) provided by financing activities			137	164
Net decrease in cash and cash equivalents			0	0
Cash and cash equivalents at beginning of period (includes $24 (2017) of discontinued operations cash)			0	0
Cash and cash equivalents at end of period (includes $9 (2017) of discontinued operations cash)	0	0	0	0
Non-Guarantor Affiliates [Member]
Condensed Financial Statements, Captions [Line Items]
Net cash flow (used for) provided by operating activities			1,407	1,699
Investing Activities:
Investments in and advances to investee companies			(71)	(65)
Capital expenditures			(55)	(58)
Acquisitions			(29)	(21)
Other investing activities			0	1
Net cash flow used for investing activities from continuing operations			(155)	(143)
Net cash flow used for investing activities from discontinued operations			0	(12)
Net cash flow used for investing activities			(155)	(155)
Financing Activities:
Repayments of short-term debt borrowings, net			0	0
Proceeds from debt borrowings of CBS Radio				24
Repayment of debt borrowings of CBS Radio				(5)
Payment of capital lease obligations			(8)	(8)
Payment of contingent consideration			(5)	(7)
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
Other financing activities			0
Increase (decrease) in intercompany payables			(1,205)	(1,685)
Net cash flow (used for) provided by financing activities			(1,218)	(1,681)
Net decrease in cash and cash equivalents			34	(137)
Cash and cash equivalents at beginning of period (includes $24 (2017) of discontinued operations cash)			112	301
Cash and cash equivalents at end of period (includes $9 (2017) of discontinued operations cash)	$ 146	$ 164	$ 146	$ 164