Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | |||||
Dec. 31, 2013 | Jun. 28, 2013 | Feb. 11, 2014 | Jun. 28, 2013 | Feb. 11, 2014 | Jun. 28, 2013 | |
Class A Common Stock | Class A Common Stock | Class B Common Stock | Class B Common Stock | |||
Document And Entity Information [Abstract] | ' | ' | ' | ' | ' | ' |
Entity Registrant Name | 'CBS Corporation | ' | ' | ' | ' | ' |
Entity Central Index Key | '0000813828 | ' | ' | ' | ' | ' |
Document Type | '10-K | ' | ' | ' | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' | ' | ' | ' |
Amendment Flag | 'false | ' | ' | ' | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' | ' | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' | ' | ' | ' |
Entity Voluntary Filers | 'No | ' | ' | ' | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' | ' | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' | ' | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' | ' | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' | ' | ' | ' |
Class of Stock [Line Items] | ' | ' | ' | ' | ' | ' |
Entity Common Stock, Shares Outstanding | ' | ' | 39,066,582 | ' | 554,311,765 | ' |
Entity Public Float | ' | $27,458,028,984 | ' | $401,227,620 | ' | $27,056,801,364 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | ||
Share data in Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Consolidated Statement of Operations [Abstract] | ' | ' | ' |
Revenues | $15,284,000,000 | $14,089,000,000 | $13,637,000,000 |
Expenses: | ' | ' | ' |
Operating | 8,813,000,000 | 7,967,000,000 | 7,882,000,000 |
Selling, general and administrative | 2,735,000,000 | 2,634,000,000 | 2,598,000,000 |
Restructuring charges (Note 4) | 20,000,000 | 19,000,000 | 43,000,000 |
Impairment charges (Note 2) | 0 | 11,000,000 | 0 |
Depreciation and amortization | 457,000,000 | 475,000,000 | 495,000,000 |
Total expenses | 12,025,000,000 | 11,106,000,000 | 11,018,000,000 |
Operating income (loss) | 3,259,000,000 | 2,983,000,000 | 2,619,000,000 |
Interest expense | -376,000,000 | -402,000,000 | -435,000,000 |
Interest income | 8,000,000 | 6,000,000 | 6,000,000 |
Net loss on early extinguishment of debt (Note 8) | 0 | -32,000,000 | 0 |
Other items, net | 6,000,000 | 6,000,000 | -11,000,000 |
Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of investee companies | 2,897,000,000 | 2,561,000,000 | 2,179,000,000 |
(Provision) benefit for income taxes | -978,000,000 | -892,000,000 | -751,000,000 |
Equity in loss of investee companies, net of tax | -46,000,000 | -35,000,000 | -37,000,000 |
Net earnings (loss) from continuing operations | 1,873,000,000 | 1,634,000,000 | 1,391,000,000 |
Net earnings (loss) from discontinued operations, net of tax (Note 3) | 6,000,000 | -60,000,000 | -86,000,000 |
Net earnings (loss) | $1,879,000,000 | $1,574,000,000 | $1,305,000,000 |
Basic net earnings (loss) per common share: | ' | ' | ' |
Basic net earnings (loss) from continuing operations (in dollars per share) | $3.08 | $2.55 | $2.09 |
Basic net earnings (loss) from discontinued operations (in dollars per share) | $0.01 | ($0.09) | ($0.13) |
Basic net earnings (loss) per common share (in dollars per share) | $3.09 | $2.45 | $1.97 |
Diluted net earnings (loss) per common share: | ' | ' | ' |
Diluted net earnings (loss) from continuing operations (in dollars per share) | $3 | $2.48 | $2.04 |
Diluted net earnings (loss) from discontinued operations (in dollars per share) | $0.01 | ($0.09) | ($0.13) |
Diluted net earnings (loss) per common share (in dollars per share) | $3.01 | $2.39 | $1.92 |
Weighted average number of common shares outstanding: | ' | ' | ' |
Basic weighted average number of common shares outstanding | 608 | 642 | 664 |
Diluted weighted average number of common shares outstanding | 624 | 659 | 681 |
Dividends per common share (in dollars per share) | $0.48 | $0.44 | $0.35 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Consolidated Statements of Comprehensive Income (Loss) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net earnings (loss) | $470 | $494 | $472 | $443 | $393 | $391 | $427 | $363 | $1,879 | $1,574 | $1,305 |
Other comprehensive income (loss), net of tax: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total other comprehensive income (loss), net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 24 | -130 | -153 |
Other comprehensive income (loss) before reclassifications | ' | ' | ' | ' | ' | ' | ' | ' | 158 | ' | ' |
Reclassifications from accumulated other comprehensive income (loss) to net earnings | ' | ' | ' | ' | ' | ' | ' | ' | -134 | ' | ' |
Total comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 1,903 | 1,444 | 1,152 |
Continuing Operations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income (loss), net of tax: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cumulative translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | -5 | 30 | 4 |
Net actuarial gain (loss) and prior service cost | ' | ' | ' | ' | ' | ' | ' | ' | 213 | -138 | -145 |
Unrealized gain (loss) on securities | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 0 | 0 |
Total other comprehensive income (loss), net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 209 | -108 | -141 |
Discontinued Operations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income (loss), net of tax: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total other comprehensive income (loss), net of tax | ' | ' | ' | ' | ' | ' | ' | ' | -185 | ' | ' |
Other comprehensive income (loss) before reclassifications | ' | ' | ' | ' | ' | ' | ' | ' | -7 | -22 | -12 |
Reclassifications from accumulated other comprehensive income (loss) to net earnings | ' | ' | ' | ' | ' | ' | ' | ' | ($178) | $0 | $0 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Current Assets: | ' | ' |
Cash and cash equivalents | $397 | $708 |
Receivables, less allowances of $76 (2013) and $81 (2012) | 3,415 | 3,137 |
Programming and other inventory (Note 5) | 772 | 859 |
Deferred income tax assets, net (Note 12) | 164 | 253 |
Prepaid income taxes | 0 | 27 |
Prepaid expenses | 194 | 206 |
Other current assets | 392 | 312 |
Current assets of discontinued operations | 36 | 218 |
Total current assets | 5,370 | 5,720 |
Property and equipment: | ' | ' |
Land | 332 | 330 |
Buildings | 743 | 718 |
Capital leases | 166 | 194 |
Advertising structures | 1,695 | 1,689 |
Equipment and other | 2,087 | 2,057 |
Property and equipment, gross | 5,023 | 4,988 |
Less accumulated depreciation and amortization | 2,787 | 2,717 |
Net property and equipment | 2,236 | 2,271 |
Programming and other inventory (Note 5) | 1,697 | 1,582 |
Goodwill (Note 2) | 8,562 | 8,567 |
Intangible assets (Note 2) | 6,430 | 6,515 |
Other assets (Note 1) | 2,010 | 1,551 |
Assets of discontinued operations | 82 | 260 |
Total assets | 26,387 | 26,466 |
Current Liabilities: | ' | ' |
Accounts payable | 371 | 386 |
Accrued expenses | 668 | 636 |
Accrued compensation | 389 | 374 |
Participants' share and royalties payable | 1,008 | 953 |
Program rights | 398 | 455 |
Deferred revenues | 292 | 232 |
Income taxes payble | 55 | 0 |
Commerical paper (Note 8) | 475 | 0 |
Current portion of long-term debt (Note 8) | 21 | 18 |
Other current liabilities | 496 | 646 |
Current liabilities of discontinued operations | 34 | 241 |
Total current liabilities | 4,207 | 3,941 |
Long-term debt (Note 8) | 5,940 | 5,904 |
Participants' share and royalties payable | 1,122 | 965 |
Pension and postretirement benefit obligations (Note 13) | 1,330 | 1,860 |
Deferred income tax liabilities, net (Note 12) | 1,583 | 1,254 |
Other liabilities | 2,091 | 2,157 |
Noncurrent liabilities of discontinued operations | 148 | 172 |
Commitments and Contingencies (Note 14) | ' | ' |
Stockholders' Equity | ' | ' |
Common stock | 1 | 1 |
Additional paid-in capital | 43,474 | 43,424 |
Accumulated deficit | -24,890 | -26,769 |
Accumulated other comprehensive loss (Note 1) | -545 | -569 |
Stockholders' equity including treasury stock | 18,040 | 16,087 |
Less treasury stock, at cost; 244 (2013) and 198 (2012) Class B Shares | 8,074 | 5,874 |
Total Stockholders' Equity | 9,966 | 10,213 |
Total Liabilities and Stockholders' Equity | 26,387 | 26,466 |
Class A Common Stock | ' | ' |
Stockholders' Equity | ' | ' |
Common stock | 0 | 0 |
Class B Common Stock | ' | ' |
Stockholders' Equity | ' | ' |
Common stock | $1 | $1 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, except Share data, unless otherwise specified | ||
Balance Sheet Parentheticals [Abstract] | ' | ' |
Allowances for receivables | $76 | $81 |
Class A Common Stock | ' | ' |
Class of Stock [Line Items] | ' | ' |
Common Stock, par value (in dollars per share) | $0.00 | $0.00 |
Common Stock, shares authorized | 375,000,000 | 375,000,000 |
Common Stock, shares issued | 39,000,000 | 43,000,000 |
Class B Common Stock | ' | ' |
Class of Stock [Line Items] | ' | ' |
Common Stock, par value (in dollars per share) | $0.00 | $0.00 |
Common Stock, shares authorized | 5,000,000,000 | 5,000,000,000 |
Common Stock, shares issued | 801,000,000 | 785,000,000 |
Treasury Stock, at cost, Class B Shares | 244,000,000 | 198,000,000 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Operating Activities: | ' | ' | ' |
Net earnings (loss) | $1,879,000,000 | $1,574,000,000 | $1,305,000,000 |
Less: Net earnings (loss) from discontinued operations | 6,000,000 | -60,000,000 | -86,000,000 |
Net earnings (loss) from continuing operations | 1,873,000,000 | 1,634,000,000 | 1,391,000,000 |
Adjustments to reconcile net earnings (loss) from continuing operations to net cash flow provided by (used for) operating activities: | ' | ' | ' |
Depreciation and amortization | 457,000,000 | 475,000,000 | 495,000,000 |
Impairment charges | 0 | 11,000,000 | 0 |
Deferred tax provision (benefit) | 425,000,000 | 442,000,000 | 452,000,000 |
Stock-based compensation | 229,000,000 | 153,000,000 | 139,000,000 |
Redemption of debt | 0 | -28,000,000 | 0 |
Net loss (gain) on dispositions and write-down of assets | -30,000,000 | 0 | 12,000,000 |
Equity in loss of investee companies, net of tax and distributions | 59,000,000 | 52,000,000 | 50,000,000 |
Amortization of deferred financing costs | 10,000,000 | 12,000,000 | 13,000,000 |
Change in assets and liabilities, net of investing and financing activities | ' | ' | ' |
Increase in receivables | -739,000,000 | -238,000,000 | -10,000,000 |
Increase in inventory and related program and participation liabilities, net | 48,000,000 | -414,000,000 | -159,000,000 |
(Increase) decrease in other assets | -8,000,000 | 28,000,000 | 43,000,000 |
Decrease in accounts payable and accrued expenses | -142,000,000 | -10,000,000 | -107,000,000 |
Decrease in pension and postretirement obligations | -189,000,000 | -192,000,000 | -381,000,000 |
Decrease in income taxes | -17,000,000 | -81,000,000 | -27,000,000 |
Increase (decrease) in deferred revenue | 64,000,000 | -17,000,000 | -85,000,000 |
Other, net | 4,000,000 | -8,000,000 | 6,000,000 |
Net cash flow provided by (used for) operating activities from continuing operations | 2,044,000,000 | 1,819,000,000 | 1,832,000,000 |
Net cash flow provided by (used for) operating activities from discontinued operations | -171,000,000 | -4,000,000 | -83,000,000 |
Net cash flow provided by (used for) operating activities | 1,873,000,000 | 1,815,000,000 | 1,749,000,000 |
Investing Activities: | ' | ' | ' |
Acquisitions, net of cash acquired | -32,000,000 | -146,000,000 | -75,000,000 |
Capital expenditures | -270,000,000 | -254,000,000 | -245,000,000 |
Investments in and advances to investee companies | -176,000,000 | -91,000,000 | -79,000,000 |
Proceeds from sale of investments | 30,000,000 | 13,000,000 | 12,000,000 |
Proceeds from dispositions | 193,000,000 | 49,000,000 | 18,000,000 |
Net cash flow provided by (used for) investing activities from continuing operations | -255,000,000 | -429,000,000 | -369,000,000 |
Net cash flow provided by (used for) investing activities from discontinued operations | -17,000,000 | -22,000,000 | -20,000,000 |
Net cash flow provided by (used for) investing activities | -272,000,000 | -451,000,000 | -389,000,000 |
Financing Activities: | ' | ' | ' |
Proceeds from short-term debt borrowings, net | 475,000,000 | 0 | 0 |
Proceeds from issuance of notes | 0 | 1,566,000,000 | 0 |
Repayment of notes and debentures | 0 | -1,583,000,000 | 0 |
Payment of capital lease obligations | -17,000,000 | -19,000,000 | -19,000,000 |
Payment of contingent consideration | -30,000,000 | -33,000,000 | 0 |
Dividends | -300,000,000 | -276,000,000 | -206,000,000 |
Purchase of Company common stock | -2,185,000,000 | -1,137,000,000 | -1,012,000,000 |
Payment of payroll taxes in lieu of issuing shares for stock-based compensation | -145,000,000 | -105,000,000 | -82,000,000 |
Proceeds from exercise of stock options | 146,000,000 | 168,000,000 | 72,000,000 |
Excess tax benefit from stock-based compensation | 148,000,000 | 103,000,000 | 72,000,000 |
Other financing activities | -4,000,000 | 0 | -5,000,000 |
Net cash flow provided by (used for) financing activities | -1,912,000,000 | -1,316,000,000 | -1,180,000,000 |
Net increase (decrease) in cash and cash equivalents | -311,000,000 | 48,000,000 | 180,000,000 |
Cash and cash equivalents at beginning of year | 708,000,000 | 660,000,000 | 480,000,000 |
Cash and cash equivalents at end of year | $397,000,000 | $708,000,000 | $660,000,000 |
Consolidated_Statements_of_Sto
Consolidated Statements of Stockholders' Equity (USD $) | Total | Common Stock | Common Stock | Additional Paid In Capital | Accumulated Deficit | Accumulated Other Comprehensive Income (Loss) | Treasury Stock, at cost |
In Millions, except Share data | Class A Common Stock | Class B Common Stock | |||||
Balance, beginning of year at Dec. 31, 2010 | ' | $0 | $1 | $43,443 | ($29,648) | ($286) | ($3,689) |
Balance, shares, beginning of year at Dec. 31, 2010 | ' | 44,000,000 | 757,000,000 | ' | ' | ' | 120,000,000 |
Conversion of A shares into B shares, decrease, shares | ' | 0 | ' | ' | ' | ' | ' |
Conversion of A shares into B shares, increase, shares | 200,000 | ' | 0 | ' | ' | ' | ' |
Issuance of stock for RSU vests, shares | ' | ' | 9,000,000 | ' | ' | ' | ' |
Exercise of stock options, shares | ' | ' | 7,000,000 | ' | ' | ' | ' |
Retirement of treasury stock, shares | ' | ' | -4,000,000 | ' | ' | ' | -4,000,000 |
Class B Common Stock purchased, shares | ' | ' | ' | ' | ' | ' | 42,000,000 |
Shares paid for tax withholding for stock-based compensation, shares | ' | ' | ' | ' | ' | ' | 4,000,000 |
Issuance of stock for deferred compensation, shares | ' | ' | ' | ' | ' | ' | 0 |
Conversion of A shares into B shares | ' | 0 | 0 | ' | ' | ' | ' |
Issuance of stock for RSU vests | ' | ' | 0 | ' | ' | ' | ' |
Exercise of stock options | ' | ' | 0 | 72 | ' | ' | ' |
Stock-based compensation | ' | ' | ' | 135 | ' | ' | ' |
Tax benefits related to employee stock-based transactions | ' | ' | ' | 64 | ' | ' | ' |
Retirement of Treasury stock | ' | ' | 0 | -82 | ' | ' | 82 |
Dividends | -237 | ' | ' | -237 | ' | ' | ' |
Net earnings (loss) | 1,305 | ' | ' | ' | 1,305 | ' | ' |
Other comprehensive income (loss) | -153 | ' | ' | ' | ' | -153 | ' |
Class B Common Stock purchased, value | ' | ' | ' | ' | ' | ' | -1,019 |
Shares paid for tax withholding for stock-based compensation | ' | ' | ' | ' | ' | ' | -82 |
Issuance of stock for deferred compensation | ' | ' | ' | ' | ' | ' | 2 |
Balance, end of year at Dec. 31, 2011 | 9,908 | 0 | 1 | 43,395 | -28,343 | -439 | -4,706 |
Balance, shares, end of year at Dec. 31, 2011 | ' | 44,000,000 | 769,000,000 | ' | ' | ' | 162,000,000 |
Conversion of A shares into B shares, decrease, shares | ' | -1,000,000 | ' | ' | ' | ' | ' |
Conversion of A shares into B shares, increase, shares | 300,000 | ' | 1,000,000 | ' | ' | ' | ' |
Issuance of stock for RSU vests, shares | ' | ' | 8,000,000 | ' | ' | ' | ' |
Exercise of stock options, shares | ' | ' | 10,000,000 | ' | ' | ' | ' |
Retirement of treasury stock, shares | ' | ' | -3,000,000 | ' | ' | ' | -3,000,000 |
Class B Common Stock purchased, shares | ' | ' | ' | ' | ' | ' | 36,000,000 |
Shares paid for tax withholding for stock-based compensation, shares | ' | ' | ' | ' | ' | ' | 3,000,000 |
Issuance of stock for deferred compensation, shares | ' | ' | ' | ' | ' | ' | 0 |
Conversion of A shares into B shares | ' | 0 | 0 | ' | ' | ' | ' |
Issuance of stock for RSU vests | ' | ' | 0 | ' | ' | ' | ' |
Exercise of stock options | ' | ' | 0 | 170 | ' | ' | ' |
Stock-based compensation | ' | ' | ' | 147 | ' | ' | ' |
Tax benefits related to employee stock-based transactions | ' | ' | ' | 104 | ' | ' | ' |
Retirement of Treasury stock | ' | ' | 0 | -105 | ' | ' | 105 |
Dividends | -287 | ' | ' | -287 | ' | ' | ' |
Net earnings (loss) | 1,574 | ' | ' | ' | 1,574 | ' | ' |
Other comprehensive income (loss) | -130 | ' | ' | ' | ' | -130 | ' |
Class B Common Stock purchased, value | ' | ' | ' | ' | ' | ' | -1,170 |
Shares paid for tax withholding for stock-based compensation | ' | ' | ' | ' | ' | ' | -105 |
Issuance of stock for deferred compensation | ' | ' | ' | ' | ' | ' | 2 |
Balance, end of year at Dec. 31, 2012 | 10,213 | 0 | 1 | 43,424 | -26,769 | -569 | -5,874 |
Balance, shares, end of year at Dec. 31, 2012 | ' | 43,000,000 | 785,000,000 | ' | ' | ' | 198,000,000 |
Conversion of A shares into B shares, decrease, shares | ' | -4,000,000 | ' | ' | ' | ' | ' |
Conversion of A shares into B shares, increase, shares | 4,000,000 | ' | 4,000,000 | ' | ' | ' | ' |
Issuance of stock for RSU vests, shares | ' | ' | 7,000,000 | ' | ' | ' | ' |
Exercise of stock options, shares | 7,710,210 | ' | 8,000,000 | ' | ' | ' | ' |
Retirement of treasury stock, shares | ' | ' | -3,000,000 | ' | ' | ' | -3,000,000 |
Class B Common Stock purchased, shares | 45,800,000 | ' | ' | ' | ' | ' | 46,000,000 |
Shares paid for tax withholding for stock-based compensation, shares | ' | ' | ' | ' | ' | ' | 3,000,000 |
Issuance of stock for deferred compensation, shares | ' | ' | ' | ' | ' | ' | 0 |
Conversion of A shares into B shares | ' | 0 | 0 | ' | ' | ' | ' |
Issuance of stock for RSU vests | ' | ' | 0 | ' | ' | ' | ' |
Exercise of stock options | ' | ' | 0 | 144 | ' | ' | ' |
Stock-based compensation | ' | ' | ' | 187 | ' | ' | ' |
Tax benefits related to employee stock-based transactions | ' | ' | ' | 159 | ' | ' | ' |
Retirement of Treasury stock | ' | ' | 0 | -145 | ' | ' | 145 |
Dividends | -295 | ' | ' | -295 | ' | ' | ' |
Net earnings (loss) | 1,879 | ' | ' | ' | 1,879 | ' | ' |
Other comprehensive income (loss) | 24 | ' | ' | ' | ' | 24 | ' |
Class B Common Stock purchased, value | -2,201 | ' | ' | ' | ' | ' | -2,201 |
Shares paid for tax withholding for stock-based compensation | ' | ' | ' | ' | ' | ' | -145 |
Issuance of stock for deferred compensation | ' | ' | ' | ' | ' | ' | 1 |
Balance, end of year at Dec. 31, 2013 | $9,966 | $0 | $1 | $43,474 | ($24,890) | ($545) | ($8,074) |
Balance, shares, end of year at Dec. 31, 2013 | ' | 39,000,000 | 801,000,000 | ' | ' | ' | 244,000,000 |
Basis_of_Presentation_and_Summ
Basis of Presentation and Summary of Significant Accounting Policies | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Organization Consolidation And Presentation Of Financial Statements Disclosure [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 Global Distribution Group; CBS Films; and CBS Interactive), Cable Networks (Showtime Networks, CBS Sports Network and Smithsonian Networks), Publishing (Simon & Schuster), Local Broadcasting (CBS Television Stations and CBS Radio) and Outdoor Americas (CBS Outdoor). On September 30, 2013, the Company completed the sale of its outdoor advertising business in Europe, which included an interest in an outdoor business in Asia (“Outdoor Europe”). Outdoor Europe has been presented as a discontinued operation in the Company's consolidated financial statements for all periods presented. | ||||||||||||||||||||
During 2013, the Company announced its intention to separate its Outdoor Americas business and, subject to receiving an Internal Revenue Service (“IRS”) ruling, convert this business into a real estate investment trust (“REIT”). Subject to market conditions and customary approvals, CBS Outdoor Americas Inc., a subsidiary of the Company which holds the Outdoor Americas business (“CBS Outdoor Americas Inc.”), expects to sell up to 20% of its common stock through an initial public offering (“IPO”) during the first quarter of 2014. At a time subsequent to the IPO, the Company intends to dispose of the remaining shares of CBS Outdoor Americas Inc. that it will own after the completion of the IPO. | ||||||||||||||||||||
Principles of Consolidation—The consolidated financial statements include the accounts of CBS Corp. and all of its subsidiaries in which a controlling interest is maintained. Controlling interest is determined by majority ownership interest and the absence of substantive third party participating rights. Investments over which the Company has a significant influence or ownership of more than 20% but less than or equal to 50%, without a controlling interest, are accounted for under the equity method. Investments of 20% or less, over which the Company has no significant influence, are accounted for under the cost method if the fair value is not readily determinable and are accounted for as available for sale securities if the fair value is readily determinable. All significant intercompany transactions have been eliminated. | ||||||||||||||||||||
Reclassifications—Certain amounts reported for prior years have been reclassified to conform to the current year's presentation. | ||||||||||||||||||||
Use of Estimates—The preparation of the Company's financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. | ||||||||||||||||||||
Cash and Cash Equivalents—Cash and cash equivalents consist of cash on hand and short-term (maturities of three months or less at the date of purchase) highly liquid investments, including money market funds, commercial paper and bank time deposits. | ||||||||||||||||||||
Programming Inventory—The Company acquires rights to programming and produces programming to exhibit on its broadcast and cable networks, broadcast television and radio stations, and in theaters. The costs incurred in acquiring and producing programs and theatrical films are capitalized and amortized over the license period or projected useful life of the programming. Program rights and the related liabilities are recorded at the gross amount of the liabilities when the license period has begun, the cost of the program is determinable, and the program is accepted and available for airing. | ||||||||||||||||||||
Television and theatrical film production costs (which include direct production costs, production overhead and acquisition costs) are stated at the lower of amortized cost or net realizable value. The Company then estimates total revenues to be earned and costs to be incurred throughout the life of each television program or theatrical film. For television programming, estimates for remaining total lifetime revenues are limited to the amount of revenue contracted for each episode in the initial market. Accordingly, television programming costs and participation costs incurred in excess of the amount of revenue contracted for each episode in the initial market are expensed as incurred on an episode by episode basis. Estimates for all secondary market revenues such as domestic and foreign syndication, basic cable, digital streaming, home entertainment and merchandising are included in the estimated lifetime revenues of such television programming once it can be demonstrated that a program can be successfully licensed in such secondary market. Television programming costs incurred subsequent to the establishment of the secondary market are initially capitalized and amortized, and estimated liabilities for participations are accrued, based on the proportion that current period revenues bear to the estimated remaining total lifetime revenues. | ||||||||||||||||||||
The costs incurred in acquiring television series and feature film programming are capitalized when the program is accepted and available for airing. These costs are amortized over the period in which an economic benefit is expected to be derived based on the timing of the Company's usage of and benefit from such programming. The costs of programming rights licensed under multi-year sports programming agreements are capitalized if the rights payments are made before the related economic benefit has been received. These costs are expensed over the period in which an economic benefit is expected to be derived based on the relative value of the events broadcast by the Company during a period. The relative value for an event is determined based on the revenues generated for that event in relation to the estimated total revenues over the remaining term of the sports programming agreement. For the Company's multi-year sports programming agreements where the rights payments for a season approximate the relative value of the events broadcast by the Company during that season, those rights payments are expensed during such season. | ||||||||||||||||||||
Lifetime revenue estimates for internally produced television programming and theatrical films, and the estimated economic benefit for the acquired programming, including revenue projections for multi-year sports programming, are periodically reviewed and adjustments, if any, will result in changes to amortization rates, future net realizable value adjustments and/or estimated accruals for participation expense. | ||||||||||||||||||||
Property and Equipment—Property and equipment is stated at cost. Depreciation is computed by the straight-line method over estimated useful lives as follows: | ||||||||||||||||||||
Buildings | 20 to 40 years | |||||||||||||||||||
Leasehold Improvements | Shorter of lease term or useful life | |||||||||||||||||||
Advertising Structures | 5 to 20 years | |||||||||||||||||||
Equipment and other (including capital leases) | 3 to 20 years | |||||||||||||||||||
Depreciation expense, including capitalized lease amortization, was $357 million (2013), $369 million (2012) and $374 million (2011). Amortization expense related to capital leases was $17 million (2013) and $19 million (2012 and 2011). Accumulated amortization of capital leases was $62 million at December 31, 2013 and $131 million at December 31, 2012. | ||||||||||||||||||||
Impairment of Long-Lived Assets—The Company assesses long-lived assets and intangible assets, other than goodwill and intangible assets with indefinite lives, for impairment whenever there is an indication that the carrying amount of the asset may not be recoverable. Recoverability of these assets is determined by comparing the forecasted undiscounted cash flows generated by these assets to their net carrying value. The amount of impairment loss, if any, will generally be measured by the difference between the net book value and the estimated fair value of the asset. | ||||||||||||||||||||
Impairment of Investments—Investments are reviewed for impairment on a quarterly basis by comparing their fair value to their respective carrying amounts. The Company determines the fair value of its public company investments by reference to their publicly traded stock price. With respect to private company investments, the Company makes its estimate of fair value by considering recent investee equity transactions, discounted cash flow analyses, recent operating results, estimates based on comparable public company operating cash flow multiples and, in certain situations, balance sheet liquidation values. If the fair value of the investment has dropped below the carrying amount, management considers several factors when determining whether an other-than-temporary decline has occurred. These factors include the length of the time and the extent to which the estimated fair value or market value has been below the carrying value, the financial condition and the near-term prospects of the investee, the intent and ability of the Company to retain its investment in the investee for a period of time sufficient to allow for any anticipated recovery in market value, and other factors influencing the fair market value, such as general market conditions. | ||||||||||||||||||||
Goodwill and Intangible Assets—Goodwill is allocated to various reporting units, which are generally one level below the Company's operating segments. Intangible assets with finite lives, which primarily consist of permits and leasehold agreements, franchise agreements and trade names, are generally amortized by the straight-line method over their estimated useful lives, which range from 4 to 40 years. Goodwill and other intangible assets with indefinite lives, which consist of FCC licenses, are not amortized but are tested for impairment on an annual basis and between annual tests if events occur or circumstances change that would more likely than not reduce the fair value below its carrying amount. If the carrying value of goodwill or the intangible asset exceeds its fair value, an impairment loss is recognized as a noncash charge. | ||||||||||||||||||||
Other Assets—Other assets include noncurrent receivables of $1.56 billion at December 31, 2013 and $1.10 billion at December 31, 2012. | ||||||||||||||||||||
Other Liabilities—Other liabilities consist primarily of the noncurrent portion of residual liabilities of previously disposed businesses, program rights obligations, deferred compensation and other employee benefit accruals. | ||||||||||||||||||||
Discontinued Operations—The consolidated financial statements present Outdoor Europe as a discontinued operation (See Note 3). In addition, certain businesses that were previously disposed of by the Company prior to January 1, 2002, were accounted for as discontinued operations in accordance with accounting rules in effect prior to 2002. Assets and liabilities in discontinued operations related to these previously disposed businesses primarily include aircraft leases that were liquidated during 2013. | ||||||||||||||||||||
Revenue Recognition—Advertising revenues, net of agency commissions, are recognized in the period during which advertising spots are aired or displayed. If there is a guarantee to deliver a targeted audience rating, revenues are recognized for the actual audience rating delivered, based on the ratings data published by independent audience ratings measurement companies. Revenues are deferred for any shortfall in the audience rating with respect to an advertising spot until such time as the required audience rating is delivered. Revenues from providing advertising space on outdoor structures are recognized ratably over the contract terms. | ||||||||||||||||||||
Revenues from the licensing of television programming are recognized in the period that the television series is made available to the licensee, which may cause fluctuations in operating results. Television series initially produced for networks and first-run syndication are generally licensed to domestic and international markets concurrently. The more successful network series are later licensed to television stations, cable networks, certain additional international markets and for digital streaming. The length of the revenue cycle for television series will vary depending on the number of seasons a series remains in active production. | ||||||||||||||||||||
Affiliate and subscription fees for cable and broadcast networks, television stations and online content are recognized in the period the service is provided. Costs for advertising and marketing services provided to the Company by cable, satellite and other distributors are recorded in selling, general and administrative expenses. | ||||||||||||||||||||
Publishing revenues are recognized when merchandise is shipped or electronically delivered to the consumer. The Company records a provision for sales returns and allowances at the time of sale based upon historical trends which allow for a percentage of revenue recognized. | ||||||||||||||||||||
Deferred revenues primarily consist of revenues related to advertising arrangements and the licensing of television programming for which the revenues have not yet been earned. The amounts classified as current are expected to be earned within the next twelve months. | ||||||||||||||||||||
Sales of Multiple Products or Services—Revenues derived from a single sales contract that contains multiple products and services are allocated based on the relative fair value of each delivered item and recognized in accordance with the applicable revenue recognition criteria for the specific unit of accounting. | ||||||||||||||||||||
Collaborative Arrangements—Collaborative arrangements primarily consist of joint efforts with third parties to produce and distribute programming such as television series and live sporting events, including the 14-year agreement between the Company and Turner Broadcasting System, Inc. to telecast the NCAA Division I Men's Basketball Championship (“NCAA Tournament”), which began in 2011. In connection with this agreement for the NCAA Tournament, advertisements aired on CBS Television Network are recorded as revenues and the Company's share of the program rights fees and other operating costs are recorded as operating expenses. | ||||||||||||||||||||
For episodic television programming, co-production costs are initially capitalized as programming inventory and amortized over the television series' estimated economic life. In such arrangements where the Company has distribution rights, all proceeds generated from such distribution are recorded as revenues and any participation profits due to third party collaborators are recorded as operating expenses. In co-production arrangements where third party collaborators have distribution rights, the Company's net participating profits are recorded as revenues. | ||||||||||||||||||||
Amounts attributable to transactions arising from collaborative arrangements between participants were not material to the Company's consolidated financial statements for all periods presented. | ||||||||||||||||||||
Advertising—Advertising costs are expensed as incurred. The Company incurred total advertising expenses of $450 million (2013), $419 million (2012) and $399 million (2011). | ||||||||||||||||||||
Interest—Costs associated with the refinancing or issuance of debt, as well as debt discounts or premiums, are recorded as interest over the term of its related debt. The Company may enter into interest rate exchange agreements; the amount to be paid or received under such agreements is accrued and recognized over the life of the agreements as an adjustment to interest expense. | ||||||||||||||||||||
Income Taxes—The provision for income taxes includes federal, state, local, and foreign taxes. Deferred tax assets and liabilities are recognized for the estimated future tax effects of temporary differences between the financial statement carrying amounts and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the year in which the temporary differences are expected to be reversed. The Company evaluates the realizability of deferred tax assets and establishes a valuation allowance when it is more likely than not that all or a portion of deferred tax assets will not be realized. For tax positions taken in a previously filed tax return or expected to be taken in a future tax return, the Company evaluates each position to determine whether it is more likely than not that the tax position will be sustained upon examination, based on the technical merits of the position. A tax position that meets the more-likely-than-not recognition threshold is subject to a measurement assessment to determine the amount of benefit to recognize in the Consolidated Statement of Operations and the appropriate reserve to establish, if any. If a tax position does not meet the more-likely-than-not recognition threshold a tax reserve is established and no benefit is recognized. A number of years may elapse before a tax return containing tax matters for which a reserve has been established is audited and finally resolved. | ||||||||||||||||||||
Foreign Currency Translation and Transactions—The Company's assets and liabilities denominated in foreign currencies are translated at foreign exchange rates in effect at the balance sheet date, while results of operations are translated at average foreign exchange rates for the respective periods. The resulting translation gains or losses are included as a separate component of stockholders' equity in accumulated other comprehensive income (loss). Foreign currency transaction gains and losses have been included in “Other items, net” in the Consolidated Statements of Operations. | ||||||||||||||||||||
Provision for Doubtful Accounts—The provision for doubtful accounts is estimated based on historical bad debt experience, the aging of accounts receivable, industry trends and economic indicators, as well as recent payment history for specific customers. The provision for doubtful accounts charged to expense was $15 million (2013), $17 million (2012) and $24 million (2011). | ||||||||||||||||||||
Net Earnings (Loss) per Common Share—Basic 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. For the years ended December 31, 2013, 2012 and 2011, stock options to purchase 2 million, 4 million and 21 million shares of Class B Common Stock, respectively, were outstanding but excluded from the calculation of diluted EPS because their inclusion would have been anti-dilutive. | ||||||||||||||||||||
The table below presents a reconciliation of weighted average shares used in the calculation of basic and diluted EPS. | ||||||||||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | |||||||||||||||||
(in millions) | ||||||||||||||||||||
Weighted average shares for basic EPS | 608 | 642 | 664 | |||||||||||||||||
Dilutive effect of shares issuable under | ||||||||||||||||||||
stock-based compensation plans | 16 | 17 | 17 | |||||||||||||||||
Weighted average shares for diluted EPS | 624 | 659 | 681 | |||||||||||||||||
Accumulated Other Comprehensive Income —The following table presents the changes in the components of accumulated other comprehensive income (loss). | ||||||||||||||||||||
Continuing Operations | Discontinued Operations | |||||||||||||||||||
Net Actuarial | Accumulated | |||||||||||||||||||
Cumulative | Gain (Loss) | Unrealized | Other | Other | ||||||||||||||||
Translation | and Prior | Gain on | Comprehensive | Comprehensive | ||||||||||||||||
Adjustments | Service Cost | Securities | Income (Loss) (b) | Income (Loss) | ||||||||||||||||
At December 31, 2010 | $ | 158 | $ | -665 | $ | 2 | $ | 219 | $ | -286 | ||||||||||
Other comprehensive income (loss) | 4 | -145 | — | -12 | -153 | |||||||||||||||
At December 31, 2011 | 162 | -810 | 2 | 207 | -439 | |||||||||||||||
Other comprehensive income (loss) | 30 | -138 | — | -22 | -130 | |||||||||||||||
At December 31, 2012 | 192 | -948 | 2 | 185 | -569 | |||||||||||||||
Other comprehensive income (loss) | ||||||||||||||||||||
before reclassifications | -5 | 169 | 1 | -7 | 158 | |||||||||||||||
Reclassifications to net earnings | — | 44 | (a) | — | -178 | (c) | -134 | |||||||||||||
Other comprehensive income (loss) | -5 | 213 | 1 | -185 | 24 | |||||||||||||||
At December 31, 2013 | $ | 187 | $ | -735 | $ | 3 | $ | — | $ | -545 | ||||||||||
See Note 13 for details of items reclassified from accumulated other comprehensive income (loss) to net earnings. | ||||||||||||||||||||
Primarily reflects cumulative translation adjustments. | ||||||||||||||||||||
Reclassified from accumulated other comprehensive income (loss) to net earnings (loss) from discontinued operations in connection with the disposal of Outdoor Europe (See Note 3). | ||||||||||||||||||||
The net actuarial gain (loss) and prior service cost related to pension and other postretirement benefit plans included in other comprehensive income (loss) is net of a tax (provision) benefit for the years ended December 31, 2013, 2012 and 2011 of $(135) million, $80 million and $77 million, respectively, and other comprehensive loss from discontinued operations is net of a tax benefit of $1 million for each of the years ended December 31, 2013, 2012 and 2011. The tax provision related to the unrealized gain on securities is minimal for all periods presented. | ||||||||||||||||||||
Stock-based Compensation—The Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. The cost is recognized over the vesting period during which an employee is required to provide service in exchange for the award. | ||||||||||||||||||||
The following table summarizes the Company's stock-based compensation expense for the years ended December 31, 2013, 2012 and 2011. | ||||||||||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | |||||||||||||||||
RSUs and PSUs | $ | 136 | $ | 111 | $ | 99 | ||||||||||||||
Stock options and equivalents | 93 | 42 | 40 | |||||||||||||||||
Stock-based compensation expense, before income taxes | 229 | 153 | 139 | |||||||||||||||||
Related tax benefit | -89 | -59 | -54 | |||||||||||||||||
Stock-based compensation expense, net of tax benefit | $ | 140 | $ | 94 | $ | 85 | ||||||||||||||
Stock-based compensation included in net earnings (loss) from discontinued operations was $8 million for 2013, and $1 million for both 2012 and 2011. | ||||||||||||||||||||
Adoption of New Accounting Standards | ||||||||||||||||||||
Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income | ||||||||||||||||||||
During the first quarter of 2013, the Company adopted the Financial Accounting Standards Board's (“FASB”) guidance which requires disclosure of significant amounts reclassified out of accumulated other comprehensive income by component and their corresponding effect on the respective line items of net income. | ||||||||||||||||||||
Recent Pronouncements | ||||||||||||||||||||
Presentation of Reserves for Uncertain Tax Positions when a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists | ||||||||||||||||||||
In July 2013, the FASB issued guidance on the presentation of the reserve for uncertain tax positions when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. This guidance requires the reserve for uncertain tax positions to be presented in the financial statements as a reduction to the deferred tax asset for a tax loss or other tax carryforward that would be applied in the settlement of the uncertain tax position. This guidance is effective for interim and annual reporting periods beginning after December 15, 2013, with early adoption permitted, and should be applied prospectively to all unrecognized tax benefits that exist at the effective date. Retrospective application is also permitted. The adoption of this guidance will not have a material effect on the Company's consolidated financial statements. | ||||||||||||||||||||
Obligations Resulting from Joint and Several Liability Arrangements | ||||||||||||||||||||
In February 2013, the FASB issued guidance on the recognition, measurement and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligation is fixed at the reporting date. Under this guidance, the Company is required to measure its obligations under such arrangements as the sum of the amount it agreed to pay in the arrangement among its co-obligors and any additional amount the Company expects to pay on behalf of its co-obligors. The Company is also required to disclose the nature and amount of the obligation. The adoption of this guidance will not have a material effect on the Company's consolidated financial statements, which is effective for reporting periods beginning after December 15, 2013. |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Goodwill and Intangible Assets | ' | ||||||||||||||||
2) GOODWILL AND OTHER INTANGIBLE ASSETS | |||||||||||||||||
The Company performs an annual fair value-based impairment test of goodwill and intangible assets with indefinite lives, primarily comprised of FCC licenses, during the fourth quarter and also between annual tests if an event occurs or if circumstances change that would more likely than not reduce the fair value of a reporting unit or an indefinite-lived intangible asset below its carrying value. Goodwill is tested for impairment at the reporting unit level, which is one level below or the same as an operating segment. FCC licenses are tested for impairment at the geographic market level. The Company considers each geographic market, which is comprised of all of the Company's radio or television stations within that geographic market, to be a single unit of accounting because the FCC licenses at this level represent their highest and best use. | |||||||||||||||||
For 2013, in accordance with amended FASB guidance for goodwill and intangibles impairment testing, the Company performed qualitative assessments for seven reporting units, eight radio markets, and ten television markets which management estimates each have fair values that exceed their respective carrying values by 20% or more. For each reporting unit, the Company weighed the relative impact of factors that are specific to the reporting unit as well as industry and macroeconomic factors. For each radio and television market, the Company weighed the relative impact of market-specific and macroeconomic factors. Based on the qualitative assessments, considering the aggregation of the relevant factors, the Company concluded that it is not more likely than not that the fair values of these reporting units and the fair value of FCC licenses within each market are less than their respective carrying amounts. Therefore, performing the quantitative impairment test was unnecessary. | |||||||||||||||||
For 2013, the Company performed the two-step quantitative goodwill impairment test for the remaining two reporting units, CBS Interactive and CBS Radio. The first step of the goodwill impairment test examines whether the carrying value of a reporting unit exceeds its fair value. If the carrying value exceeds the fair value, the second step of the test compares the implied fair value of a reporting unit's goodwill with the carrying value of its goodwill to determine the amount of impairment charge, if any. The estimated fair value of each reporting unit for which step one of the impairment test is performed is computed based upon the present value of future cash flows (“Discounted Cash Flow Method”) and both the traded and transaction values of comparable businesses (“Market Comparable Method”). The Discounted Cash Flow Method and Market Comparable Method resulted in substantially equal fair values. The Discounted Cash Flow Method includes the Company's assumptions for growth rates, operating margins and capital expenditures for the projection period plus the residual value of the business at the end of the projection period. The estimated growth rates, operating margins and capital expenditures for the projection period are based on the Company's internal forecasts of future performance as well as historical trends. The residual value is estimated based on a perpetual nominal growth rate, which is based on projected long-range inflation and long-term industry projections, and for 2013 was 3.0% for CBS Interactive and 1.5% for CBS Radio. The discount rates, which for 2013 were 9.5% for CBS Interactive and 8.0% for CBS Radio, are determined based on the average of the weighted average cost of capital of comparable entities. | |||||||||||||||||
Based on the 2013 annual impairment test, for each of the two reporting units for which the Company performed the first step of the impairment test, the estimated fair values exceeded the respective carrying values and therefore the second step of the impairment test was unnecessary. | |||||||||||||||||
For each of the remaining eighteen radio and four television markets, the Company performed the quantitative impairment test that compares the estimated fair value of the FCC licenses by geographic market with their respective carrying values. The estimated fair value of each FCC license is computed using the Greenfield Discounted Cash Flow Method (''Greenfield Method''), which attempts to isolate the income that is attributable to the license alone. The Greenfield Method is based upon modeling a hypothetical start-up station and building it up to a normalized operation that, by design, lacks inherent goodwill and whose other assets have essentially been added as part of the build-up process. The Greenfield Method adds the present value of the estimated annual cash flows of the start-up station over a projection period to the residual value at the end of the projection period. The annual cash flows over the projection period include assumptions for overall advertising revenues in the relevant geographic market, the start-up station's operating costs and capital expenditures, and a three-year build-up period for the start-up station to reach a normalized state of operations, which reflects the point at which it achieves an average market share. In order to estimate the revenues of a start-up station, the total market advertising revenue in the subject market is estimated based on recent industry projections. Operating costs and capital expenditures are estimated based on both industry and internal data. The residual value is calculated using a perpetual nominal growth rate, which is based on projected long-range inflation in the U.S. and long-term industry projections. The discount rate is determined based on the average of the weighted average cost of capital of comparable entities in the broadcast industry. For each television station and radio station, the discount rate used for 2013 was 8.0% and the perpetual nominal growth rates used were 2.5% and 1.5%, respectively. | |||||||||||||||||
For its 2013 annual impairment test the Company concluded that the estimated fair values of the indefinite-lived intangible assets for which it performed a quantitative assessment exceeded the respective carrying values and therefore no impairment charge was required. | |||||||||||||||||
During 2012, in connection with the sale of its five owned radio stations in West Palm Beach, the Company recorded a pre-tax noncash impairment charge of $11 million to reduce the carrying value of the allocated goodwill. | |||||||||||||||||
For the years ended December 31, 2013 and 2012, the changes in the book value of goodwill by segment were as follows: | |||||||||||||||||
Balance at | Balance at | ||||||||||||||||
31-Dec-12 | Acquisitions | Dispositions | Other (a) | 31-Dec-13 | |||||||||||||
Entertainment: | |||||||||||||||||
Goodwill | $ | 9,460 | $ | 7 | $ | — | $ | — | $ | 9,467 | |||||||
Accumulated impairment losses | -6,294 | — | — | — | -6,294 | ||||||||||||
Goodwill, net of impairment | 3,166 | 7 | — | — | 3,173 | ||||||||||||
Cable Networks: | |||||||||||||||||
Goodwill | 480 | — | — | — | 480 | ||||||||||||
Accumulated impairment losses | — | — | — | — | — | ||||||||||||
Goodwill, net of impairment | 480 | — | — | — | 480 | ||||||||||||
Publishing: | |||||||||||||||||
Goodwill | 407 | — | — | -1 | 406 | ||||||||||||
Accumulated impairment losses | — | — | — | — | — | ||||||||||||
Goodwill, net of impairment | 407 | — | — | -1 | 406 | ||||||||||||
Local Broadcasting: | |||||||||||||||||
Goodwill | 23,209 | — | — | — | 23,209 | ||||||||||||
Accumulated impairment losses | -20,572 | — | — | — | -20,572 | ||||||||||||
Goodwill, net of impairment | 2,637 | — | — | — | 2,637 | ||||||||||||
Outdoor Americas: | |||||||||||||||||
Goodwill | 9,584 | — | -39 | -5 | 9,540 | ||||||||||||
Accumulated impairment losses | -7,707 | — | 33 | — | -7,674 | ||||||||||||
Goodwill, net of impairment | 1,877 | — | -6 | -5 | 1,866 | ||||||||||||
Total: | |||||||||||||||||
Goodwill | 43,140 | 7 | -39 | -6 | 43,102 | ||||||||||||
Accumulated impairment losses | -34,573 | — | 33 | — | -34,540 | ||||||||||||
Goodwill, net of impairment | $ | 8,567 | $ | 7 | $ | -6 | $ | -6 | $ | 8,562 | |||||||
Primarily includes foreign currency translation adjustments. | |||||||||||||||||
Balance at | Balance at | ||||||||||||||||
31-Dec-11 | Acquisitions | Dispositions | Impairment | Other (a) | 31-Dec-12 | ||||||||||||
Entertainment: | |||||||||||||||||
Goodwill | $ | 9,456 | $ | 4 | $ | — | $ | — | $ | — | $ | 9,460 | |||||
Accumulated impairment losses | -6,294 | — | — | — | — | -6,294 | |||||||||||
Goodwill, net of impairment | 3,162 | 4 | — | — | — | 3,166 | |||||||||||
Cable Networks: | |||||||||||||||||
Goodwill | 480 | — | — | — | — | 480 | |||||||||||
Accumulated impairment losses | — | — | — | — | — | — | |||||||||||
Goodwill, net of impairment | 480 | — | — | — | — | 480 | |||||||||||
Publishing: | |||||||||||||||||
Goodwill | 407 | — | — | — | — | 407 | |||||||||||
Accumulated impairment losses | — | — | — | — | — | — | |||||||||||
Goodwill, net of impairment | 407 | — | — | — | — | 407 | |||||||||||
Local Broadcasting: | |||||||||||||||||
Goodwill | 23,466 | 6 | -263 | — | — | 23,209 | |||||||||||
Accumulated impairment losses | -20,816 | — | 255 | -11 | — | -20,572 | |||||||||||
Goodwill, net of impairment | 2,650 | 6 | -8 | -11 | — | 2,637 | |||||||||||
Outdoor Americas: | |||||||||||||||||
Goodwill | 9,579 | — | — | — | 5 | 9,584 | |||||||||||
Accumulated impairment losses | -7,707 | — | — | — | — | -7,707 | |||||||||||
Goodwill, net of impairment | 1,872 | — | — | — | 5 | 1,877 | |||||||||||
Total: | |||||||||||||||||
Goodwill | 43,388 | 10 | -263 | — | 5 | 43,140 | |||||||||||
Accumulated impairment losses | -34,817 | — | 255 | -11 | — | -34,573 | |||||||||||
Goodwill, net of impairment | $ | 8,571 | $ | 10 | $ | -8 | $ | -11 | $ | 5 | $ | 8,567 | |||||
Primarily includes foreign currency translation adjustments. | |||||||||||||||||
The Company's intangible assets were as follows: | |||||||||||||||||
Accumulated | |||||||||||||||||
At December 31, 2013 | Gross | Amortization | Net | ||||||||||||||
Intangible assets subject to amortization: | |||||||||||||||||
Permits and leasehold agreements | $ | 894 | $ | -670 | $ | 224 | |||||||||||
Franchise agreements | 462 | -321 | 141 | ||||||||||||||
Trade names | 222 | -42 | 180 | ||||||||||||||
Other intangible assets | 213 | -160 | 53 | ||||||||||||||
Total intangible assets subject to amortization | 1,791 | -1,193 | 598 | ||||||||||||||
FCC licenses | 5,832 | — | 5,832 | ||||||||||||||
Total intangible assets | $ | 7,623 | $ | -1,193 | $ | 6,430 | |||||||||||
Accumulated | |||||||||||||||||
At December 31, 2012 | Gross | Amortization | Net | ||||||||||||||
Intangible assets subject to amortization: | |||||||||||||||||
Permits and leasehold agreements | $ | 889 | $ | -635 | $ | 254 | |||||||||||
Franchise agreements | 477 | -309 | 168 | ||||||||||||||
Trade names | 213 | -28 | 185 | ||||||||||||||
Other intangible assets | 245 | -169 | 76 | ||||||||||||||
Total intangible assets subject to amortization | 1,824 | -1,141 | 683 | ||||||||||||||
FCC licenses | 5,832 | — | 5,832 | ||||||||||||||
Total intangible assets | $ | 7,656 | $ | -1,141 | $ | 6,515 | |||||||||||
Amortization expense was $100 million (2013), $106 million (2012) and $121 million (2011). The Company expects its aggregate annual amortization expense for existing intangible assets subject to amortization for each of the years, 2014 through 2018, to be as follows: | |||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | |||||||||||||
Amortization expense | $ | 89 | $ | 79 | $ | 68 | $ | 43 | $ | 34 |
Discontinued_Operations
Discontinued Operations | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Discontinued Operations [Abstract] | ' | |||||||||||
Discontinued Operations | ' | |||||||||||
3) DISCONTINUED OPERATIONS | ||||||||||||
On September 30, 2013 the Company completed the sale of Outdoor Europe for $225 million. Outdoor Europe has been presented as a discontinued operation in the Company's consolidated financial statements for all periods presented. Included in the loss from discontinued operations of $147 million for 2013 is an after-tax charge of $110 million associated with exiting an unprofitable contractual arrangement and the estimated fair value of guarantees, which historically have been intercompany but upon the closing of the transaction became third-party guarantees (See Note 14). | ||||||||||||
The following table sets forth details of the net earnings (loss) from discontinued operations for the years ended December 31, 2013, 2012 and 2011. | ||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | |||||||||
Revenues from discontinued operations | $ | 401 | $ | 588 | $ | 608 | ||||||
Loss from discontinued operations | $ | -247 | $ | -78 | $ | -73 | ||||||
Income tax benefit (provision) | 100 | 18 | -13 | |||||||||
Loss from discontinued operations, net of tax | -147 | -60 | -86 | |||||||||
Gain on disposal | 159 | — | — | |||||||||
Income tax provision | -6 | — | — | |||||||||
Gain on disposal, net of tax | 153 | — | — | |||||||||
Net earnings (loss) from discontinued operations, net of tax | $ | 6 | $ | -60 | $ | -86 | ||||||
Noncurrent assets of discontinued operations of $82 million for 2013 and $260 million for 2012 include deferred tax assets for previously disposed businesses. At December 31, 2012, noncurrent assets of discontinued operations also included net property and equipment of $103 million, goodwill of $49 million, as well as assets related to aircraft leases from previously disposed businesses that were liquidated in 2013. (See Note 1 for the accounting policy related to these discontinued operations). Noncurrent liabilities of discontinued operations of $148 million at December 31, 2013, primarily include tax reserves related to previously disposed businesses and the estimated fair value of guarantee liabilities of approximately $40 million (See Note 14). At December 31, 2012, noncurrent liabilities of discontinued operations of $172 million primarily relate to the above mentioned aircraft leases and tax reserves related to previously disposed businesses. |
Restructuring_Charges
Restructuring Charges | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Restructuring Charges Disclosure [Abstract] | ' | |||||||||||||||||
Restructuring Charges | ' | |||||||||||||||||
4) RESTRUCTURING CHARGES | ||||||||||||||||||
During the year ended December 31, 2013, in a continued effort to reduce its cost structure, the Company initiated restructuring plans across several of its businesses, primarily for the reorganization or closure of certain business operations. As a result, the Company recorded restructuring charges of $20 million, reflecting $14 million of severance costs and $6 million of costs associated with exiting contractual obligations. During the years ended December 31, 2012 and 2011, the Company recorded restructuring charges of $19 million and $43 million, respectively. The charges reflected $22 million of severance costs and $40 million of costs associated with exiting contractual obligations. As of December 31, 2013, the cumulative amount paid for the 2013, 2012 and 2011 restructuring charges was $57 million, of which $23 million was for the severance costs and $34 million related to costs associated with exiting contractual obligations. The 2012 and 2011 restructuring reserves were substantially utilized at December 31, 2013. The Company expects to substantially utilize the 2013 restructuring reserve by the end of 2014. | ||||||||||||||||||
Balance at | 2013 | 2013 | Balance at | |||||||||||||||
31-Dec-12 | Charges | Payments | 31-Dec-13 | |||||||||||||||
Entertainment | $ | 25 | $ | 12 | $ | -23 | $ | 14 | ||||||||||
Cable Networks | — | 1 | — | 1 | ||||||||||||||
Publishing | 2 | 1 | -2 | 1 | ||||||||||||||
Local Broadcasting | 7 | 5 | -4 | 8 | ||||||||||||||
Corporate | 1 | 1 | -1 | 1 | ||||||||||||||
Total | $ | 35 | $ | 20 | $ | -30 | $ | 25 | ||||||||||
Balance at | 2012 | 2012 | Balance at | |||||||||||||||
31-Dec-11 | Charges | Payments | 31-Dec-12 | |||||||||||||||
Entertainment | $ | 40 | $ | 7 | $ | -22 | $ | 25 | ||||||||||
Publishing | 1 | 3 | -2 | 2 | ||||||||||||||
Local Broadcasting | — | 8 | -1 | 7 | ||||||||||||||
Outdoor Americas | 1 | — | -1 | — | ||||||||||||||
Corporate | — | 1 | — | 1 | ||||||||||||||
Total | $ | 42 | $ | 19 | $ | -26 | $ | 35 |
Programming_and_Other_Inventor
Programming and Other Inventory | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Programming And Other Inventory Disclosure [Abstract] | ' | ||||||||
Programming and Other Inventory | ' | ||||||||
5) PROGRAMMING AND OTHER INVENTORY | |||||||||
At December 31, | 2013 | 2012 | |||||||
Program rights | $ | 1,331 | $ | 1,389 | |||||
Television programming: | |||||||||
Released (including acquired libraries) | 878 | 781 | |||||||
In process and other | 139 | 128 | |||||||
Theatrical programming: | |||||||||
Released | 37 | 25 | |||||||
In process and other | 32 | 60 | |||||||
Publishing, primarily finished goods | 51 | 57 | |||||||
Other | 1 | 1 | |||||||
Total programming and other inventory | 2,469 | 2,441 | |||||||
Less current portion | 772 | 859 | |||||||
Total noncurrent programming and other inventory | $ | 1,697 | $ | 1,582 | |||||
Related_Parties
Related Parties | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Related Parties Disclosure [Abstract] | ' | ||||||||
Related Parties | ' | ||||||||
6) RELATED PARTIES | |||||||||
National Amusements, Inc. National Amusements, Inc. (“NAI”) is the controlling stockholder of CBS Corp. and Viacom Inc. Mr. Sumner M. Redstone, the controlling stockholder, chairman of the board of directors and chief executive officer of NAI, is the Executive Chairman of the Board of Directors and founder of both CBS Corp. and Viacom Inc. In addition, Ms. Shari Redstone, Mr. Sumner M. Redstone's daughter, is the president and a director of NAI and the vice chair of the Board of Directors of both CBS Corp. and Viacom Inc. Mr. David R. Andelman is a director of CBS Corp. and serves as a director of NAI. Mr. Frederic V. Salerno is a director of CBS Corp. and serves as a director of Viacom Inc. At December 31, 2013, NAI directly or indirectly owned approximately 79.6% of CBS Corp.'s voting Class A Common Stock and owned approximately 6.7% of CBS Corp.'s Class A Common Stock and non-voting Class B Common Stock on a combined basis. | |||||||||
Viacom Inc. As part of its normal course of business, the Company enters into transactions with Viacom Inc. and its subsidiaries. Through its Entertainment segment, the Company licenses its television products and leases its production facilities to Viacom Inc.'s media networks businesses. In addition, the Company recognizes revenues for advertising spending placed by various subsidiaries of Viacom Inc. Viacom Inc. also distributes certain of the Company's television products in the home entertainment market. The Company's total revenues from these transactions were $195 million, $221 million and $255 million for the years ended December 31, 2013, 2012 and 2011, respectively. | |||||||||
As part of its normal course of business, the Company places advertisements with, leases production facilities from, and purchases other goods and services from various subsidiaries of Viacom Inc. The total amounts for these transactions were $21 million, $26 million and $23 million for the years ended December 31, 2013, 2012 and 2011, 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 December 31, 2013 and 2012. | |||||||||
At December 31, | 2013 | 2012 | |||||||
Receivables | $ | 84 | $ | 124 | |||||
Other assets (Receivables, noncurrent) | 115 | 133 | |||||||
Total amounts due from Viacom Inc. | $ | 199 | $ | 257 | |||||
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 these joint ventures were $111 million, $160 million and $133 million for the years ended December 31, 2013, 2012 and 2011, 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. |
Investments
Investments | 12 Months Ended |
Dec. 31, 2013 | |
Investments Disclosure [Abstract] | ' |
Investments | ' |
7) INVESTMENTS | |
The Company accounts for investments over which it has significant influence or ownership of more than 20% but less than or equal to 50%, without a controlling interest, under the equity method. Such investments include the Company's 50% interests in the broadcast network, The CW, and the entertainment cable network, TVGN (TV Guide Network). The Company also owns a 50% interest in two out-of-home advertising companies that operate transit shelters in Los Angeles and Vancouver. In addition, the Company has interests in several international television joint ventures including a 49% interest in a joint venture with a subsidiary of AMC Networks Inc., which owns and operates six cable and satellite channels in the United Kingdom and Ireland, including CBS branded channels; a 30% interest in a joint venture with another subsidiary of AMC Networks Inc., which owns and operates nine cable and satellite channels in Europe, the Middle East and Africa; a 33% interest in a joint venture with a subsidiary of Ten Network Holdings Limited to provide content to ELEVEN, a digital television channel service in Australia; and a 30% interest in a joint venture with RTL Group to launch two cable channels in South East Asia, the first of which launched in September 2013. | |
At December 31, 2013 and 2012, respectively, the Company had $212 million and $118 million of equity investments that are included in “Other assets” on the Consolidated Balance Sheets. | |
Investments of 20% or less, over which the Company has no significant influence, that do not have a readily determinable fair value are accounted for under the cost method. At December 31, 2013 and 2012, respectively, the Company had $16 million and $10 million of cost investments that are included in “Other assets” on the Consolidated Balance Sheets. | |
At December 31, 2013 and 2012, the aggregate market value of the Company's available for sale investments was $7 million and $9 million, respectively. The market value of each individual investment was not below its carrying value on the Consolidated Balance Sheets. | |
The Company invested $176 million, $91 million and $79 million into its equity and cost investments during the years ended December 31, 2013, 2012 and 2011, respectively. Also during 2013, the Company sold 50% of its transit shelter operations in Los Angeles for $17 million. The Company and the buyer each subsequently contributed their respective 50% interests in these operations to a 50/50 joint venture that the Company and buyer own together. | |
Bank_Financing_and_Debt
Bank Financing and Debt | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Bank Financing And Debt Disclosure [Abstract] | ' | ||||||||||||||||||
Bank Financing and Debt | ' | ||||||||||||||||||
8) BANK FINANCING AND DEBT | |||||||||||||||||||
Long-term debt consists of the following (a): | |||||||||||||||||||
At December 31, | 2013 | 2012 | |||||||||||||||||
Commercial paper | $ | 475 | $ | — | |||||||||||||||
8.875% Notes due 2014 | 99 | 100 | |||||||||||||||||
7.625% Senior Debentures due 2016 | 200 | 200 | |||||||||||||||||
1.95% Senior Notes due 2017 | 397 | 396 | |||||||||||||||||
4.625% Senior Notes due 2018 | 317 | 321 | |||||||||||||||||
8.875% Senior Notes due 2019 | 592 | 591 | |||||||||||||||||
5.750% Senior Notes due 2020 | 500 | 500 | |||||||||||||||||
4.30% Senior Notes due 2021 | 300 | 300 | |||||||||||||||||
3.375% Senior Notes due 2022 | 695 | 694 | |||||||||||||||||
7.875% Debentures due 2023 | 224 | 224 | |||||||||||||||||
7.125% Senior Notes due 2023 (b) | 52 | 52 | |||||||||||||||||
7.875% Senior Debentures due 2030 | 1,270 | 1,271 | |||||||||||||||||
5.50% Senior Debentures due 2033 | 428 | 428 | |||||||||||||||||
5.90% Senior Notes due 2040 | 299 | 299 | |||||||||||||||||
4.85% Senior Notes due 2042 | 488 | 487 | |||||||||||||||||
Obligations under capital leases | 113 | 72 | |||||||||||||||||
Total debt (c) | 6,449 | 5,935 | |||||||||||||||||
Less discontinued operations debt (d) | 13 | 13 | |||||||||||||||||
Total debt from continuing operations | 6,436 | 5,922 | |||||||||||||||||
Less commercial paper | 475 | — | |||||||||||||||||
Less current portion | 21 | 18 | |||||||||||||||||
Total long-term debt from continuing operations, net of current portion | $ | 5,940 | $ | 5,904 | |||||||||||||||
(a) Unless otherwise noted, the long-term debt instruments are issuances of CBS Corp. and are guaranteed by CBS Operations Inc. | |||||||||||||||||||
(b) Debt instrument is an issuance of CBS Broadcasting Inc., a wholly owned subsidiary of CBS Corp., and has no guarantor. | |||||||||||||||||||
(c) At December 31, 2013 and December 31, 2012, the senior debt balances included (i) a net unamortized discount of $13 million and $16 million, respectively, and (ii) an increase in the carrying value of the debt relating to previously settled fair value hedges of $18 million and $23 million, respectively. The face value of the Company's total debt was $6.44 billion at December 31, 2013 and $5.93 billion at December 31, 2012. | |||||||||||||||||||
(d) Included in “Liabilities of discontinued operations” on the Consolidated Balance Sheets. | |||||||||||||||||||
At December 31, 2013, the Company classified $99 million of notes maturing in June 2014 as long-term debt on the Consolidated Balance Sheet, reflecting its intent and ability to refinance this debt on a long-term basis. | |||||||||||||||||||
During the year ended December 31, 2012, the Company issued $1.60 billion of senior notes and redeemed $1.59 billion of senior notes and debentures, resulting in a pre-tax net loss on early extinguishment of debt of $32 million. | |||||||||||||||||||
At December 31, 2013, the Company's scheduled maturities of long-term debt at face value, excluding capital leases, were as follows: | |||||||||||||||||||
2019 and | |||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | ||||||||||||||
Long-term debt | $ | 99 | $ | — | $ | 200 | $ | 400 | $ | 300 | $ | 4,857 | |||||||
Commercial Paper | |||||||||||||||||||
At December 31, 2013, the Company had $475 million of commercial paper borrowings outstanding under its $2.0 billion commercial paper program. Outstanding commercial paper borrowings have a weighted average interest rate of 0.3% and maturities of less than thirty days. | |||||||||||||||||||
Credit Facility | |||||||||||||||||||
During 2013, the Company amended and restated its $2.0 billion revolving credit facility (the “Credit Facility”) which now expires in March 2018. The amended facility provides for lower borrowing rates and fees, as well as more favorable covenants. The Company, at its option, may also borrow in certain foreign currencies up to specified limits under the Credit Facility. Borrowing rates under the Credit Facility are determined at the Company's option at the time of each borrowing and are based generally on the prime rate in the U.S. or the London Interbank Offer Rate (“LIBOR”) plus a margin based on the Company's senior unsecured debt rating. The Company pays a facility fee based on the total amount of the commitments. | |||||||||||||||||||
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 December 31, 2013, the Company's Consolidated Leverage Ratio was approximately 1.6x. | |||||||||||||||||||
The Consolidated Leverage Ratio reflects 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 December 31, 2013, 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 $1.99 billion. | |||||||||||||||||||
Outdoor Americas Indebtedness | |||||||||||||||||||
In January 2014, in connection with the Company's strategic initiatives for Outdoor Americas, Outdoor Americas borrowed $1.60 billion through an $800 million senior secured term loan credit facility (“Term Loan”) and the issuance of $800 million of senior notes through a private placement. The senior notes are comprised of $400 million of 5.25% Senior Notes due 2022 and $400 million of 5.625% Senior Notes due 2024. The Term Loan is due in 2021 and bears interest at a rate equal to 2.25% plus the greater of LIBOR or 0.75%. The debt is guaranteed by CBS Outdoor Americas Inc. and certain of its subsidiaries. | |||||||||||||||||||
The Term Loan is part of a credit agreement which also includes a $425 million revolving credit facility (the “Outdoor Revolving Credit Facility”) which expires in 2019. The Outdoor Revolving Credit Facility bears interest based on LIBOR plus a margin based on Outdoor Americas Consolidated Net Secured Leverage Ratio. The Consolidated Net Secured Leverage Ratio reflects the ratio of Outdoor Americas' secured debt (less up to $150 million of unrestricted cash) to Outdoor Americas' consolidated EBITDA (as defined in the credit agreement). The Outdoor Revolving Credit Facility requires Outdoor Americas to maintain a maximum Consolidated Net Secured Leverage Ratio of 3.50 to 1.00, which will be increased to 4.00 to 1.00 if Outdoor Americas elects to be taxed as a REIT. As of February 14, 2014, there were no borrowings outstanding under the Outdoor Revolving Credit Facility. | |||||||||||||||||||
The debt proceeds will be primarily used by the Company to repurchase shares of CBS Corp. Class B Common Stock through a $1.5 billion accelerated share repurchase transaction, with $50 million retained by Outdoor Americas for its corporate purposes and ongoing cash needs. |
Financial_Instruments
Financial Instruments | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Financial Instruments Disclosure [Abstract] | ' | ||||||||||||
Financial Instruments | ' | ||||||||||||
9) FINANCIAL INSTRUMENTS | |||||||||||||
The Company's carrying value of financial instruments approximates fair value, except for differences with respect to notes and debentures. At December 31, 2013 and 2012, the carrying value of the senior debt was $5.86 billion, and the fair value, which is estimated based on quoted market prices for similar liabilities (Level 2) and includes accrued interest, was $6.69 billion and $7.16 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 forward contracts have principally been used to hedge projected cash flows, generally within the next twelve months, in currencies such as the British Pound, the Euro, the Canadian Dollar and the Australian Dollar. The Company designates forward contracts used to hedge projected future television and film production costs as cash flow hedges. Gains or losses on the effective portion of designated cash flow hedges are initially recorded in other comprehensive income 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. The change in fair value of the non-designated contracts is included in “Other items, net” in the Consolidated Statements of Operations. | |||||||||||||
At December 31, 2013 and 2012, the notional amount of all foreign currency contracts was $136 million and $157 million, respectively, which represents hedges of expected foreign currency cash flows. | |||||||||||||
The fair value of foreign exchange contracts recorded on the Consolidated Balance Sheets was as follows: | |||||||||||||
At December 31, | 2013 | 2012 | Balance Sheet Account | ||||||||||
Non-designated hedging instruments: | |||||||||||||
Assets | $ | 3 | $ | — | Other current assets | ||||||||
Liabilities | $ | 4 | $ | 2 | Other current liabilities | ||||||||
Gains (losses) recognized on foreign exchange contracts were as follows: | |||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | Financial Statement Account | |||||||||
Non-designated hedging instruments | $ | 2 | $ | -4 | $ | 2 | Other items, net | ||||||
The Company is subject to interest rate risk to the extent it has variable-rate debt outstanding. At December 31, 2013 the Company had $475 million of commercial paper borrowings outstanding at a weighted average interest rate of 0.3%. In addition, in January 2014, Outdoor Americas borrowed $800 million under a variable-rate Term Loan, with an initial interest rate of 3.0%. While the Company does not currently use derivatives to modify its exposure to interest rates, it may do so in the future. | |||||||||||||
The Company continually monitors its positions with, and credit quality of, the financial institutions that are counterparties to its financial instruments. The Company is exposed to credit loss in the event of nonperformance by the counterparties to the agreements. However, the Company does not anticipate nonperformance by the counterparties. | |||||||||||||
The Company's receivables do not represent significant concentrations of credit risk at December 31, 2013 and 2012, due to the wide variety of customers, markets and geographic areas to which the Company's products and services are sold. | |||||||||||||
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||
Fair Value Measurements | ' | |||||||||||||
10) FAIR VALUE MEASUREMENTS | ||||||||||||||
The following tables set forth the Company's assets and liabilities measured at fair value on a recurring basis at December 31, 2013 and 2012. 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 December 31, 2013 | Level 1 | Level 2 | Level 3 | Total | ||||||||||
Assets: | ||||||||||||||
Investments | $ | 83 | $ | — | $ | — | $ | 83 | ||||||
Foreign currency hedges | — | 3 | — | 3 | ||||||||||
Total Assets | $ | 83 | $ | 3 | $ | — | $ | 86 | ||||||
Liabilities: | ||||||||||||||
Deferred compensation | $ | — | $ | 268 | $ | — | $ | 268 | ||||||
Guarantees | — | — | 40 | 40 | ||||||||||
Foreign currency hedges | — | 4 | — | 4 | ||||||||||
Total Liabilities | $ | — | $ | 272 | $ | 40 | $ | 312 | ||||||
At December 31, 2012 | Level 1 | Level 2 | Level 3 | Total | ||||||||||
Assets: | ||||||||||||||
Investments | $ | 70 | $ | — | $ | — | $ | 70 | ||||||
Total Assets | $ | 70 | $ | — | $ | — | $ | 70 | ||||||
Liabilities: | ||||||||||||||
Deferred compensation | $ | — | $ | 201 | $ | — | $ | 201 | ||||||
Foreign currency hedges | — | 2 | — | 2 | ||||||||||
Total Liabilities | $ | — | $ | 203 | $ | — | $ | 203 | ||||||
The fair value of investments is determined based on publicly quoted market prices in active markets. 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 is determined based on the fair value of the investments elected by employees. | ||||||||||||||
In connection with the disposal of Outdoor Europe in 2013, the Company recorded a pre-tax charge of $40 million in net earnings (loss) from discontinued operations, for the estimated fair value of guarantees, which historically have been intercompany but upon the closing of the transaction became third-party guarantees. The fair value of guarantee liabilities reflects the premium that would be required to issue such guarantee in a standalone arm's length transaction and is calculated based on an assessment of the probability of the primary obligor's default under the obligation, discounted to its present value. |
Stockholders_Equity
Stockholders' Equity | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Stockholders' Equity Disclosure [Abstract] | ' | |||||||||||||||
Stockholders' Equity | ' | |||||||||||||||
11) STOCKHOLDERS' EQUITY | ||||||||||||||||
In general, CBS Corp. Class A Common Stock and CBS Corp. Class B Common Stock have the same economic rights, except voting rights. Holders of CBS Corp. Class A Common Stock are entitled to one vote per share with respect to all matters on which the holders of CBS Corp. Common Stock are entitled to vote. Holders of CBS Corp. Class B Common Stock do not have any voting rights, except as required by law. | ||||||||||||||||
Dividends—The Company declared a quarterly cash dividend on its Class A and Class B Common Stock during each of the four quarters of 2013, 2012, and 2011, resulting in total annual dividends of $295 million, $287 million and $237 million, respectively. Dividends have been recorded as a reduction to additional paid-in capital as the Company has an accumulated deficit balance. | ||||||||||||||||
Purchase of Company Stock—During 2013, the Company repurchased 45.8 million shares of CBS Corp. Class B Common Stock for $2.20 billion, at an average cost of $48.03 per share. Since the inception of the share repurchase program in January 2011 through December 31, 2013, the Company has repurchased 123.5 million shares of its Class B Common Stock for $4.39 billion, at an average cost of $35.54 per share, leaving $5.43 billion of authorization remaining at December 31, 2013. | ||||||||||||||||
Conversion Rights—Holders of Class A Common Stock have the right to convert their shares to Class B Common Stock as long as there are at least 5,000 shares of Class A Common Stock outstanding. Conversions of CBS Corp. Class A Common Stock into Class B Common Stock were 4.0 million for 2013, .3 million for 2012 and .2 million for 2011. | ||||||||||||||||
Equity Incentive Plans—The Company has equity incentive plans (the “Plans”) under which stock options, stock option equivalents, RSUs and PSUs were issued. | ||||||||||||||||
The purpose of the Plans is to benefit and advance the interests of the Company by attracting, retaining and motivating participants and to compensate participants for their contributions to the financial success of the Company. The Plans provide for awards of stock options, stock appreciation rights, restricted and unrestricted shares, RSUs, dividend equivalents, performance awards and other equity-related awards. Upon exercise of stock options or vesting of RSUs and PSUs, the Company issues new shares from its existing authorization. At December 31, 2013, there were 61 million shares available for future grant under the Plans. | ||||||||||||||||
RSUs and PSUs | ||||||||||||||||
Compensation expense for RSUs is determined based upon the market price of the shares underlying the awards on the date of grant and expensed over the vesting period, which is generally a one- to four-year service period. Certain RSU awards are also subject to satisfying performance conditions. Once the Company determines that it is probable that the performance targets will be met, compensation expense is recorded for these awards. Forfeitures for RSUs are estimated on the date of grant based on historical forfeiture rates. On an annual basis, the Company adjusts the compensation expense based on actual forfeitures and revises the forfeiture rate as necessary. | ||||||||||||||||
The Company also granted awards of PSUs which vest based on the achievement of market performance targets. The number of shares that will be issued upon vesting of PSUs can range from 0% to 300% of the target award, based on the ranking of the total shareholder return (“TSR”) for CBS Corp. Class B Common Stock within the S&P 500 Index over a designated three-year measurement period, or in certain circumstances, based on the achievement of established operating performance goals. The fair value of the PSUs is determined using a Monte Carlo Simulation model. This model generates simulated TSR of CBS Corp. Class B Common Stock versus each of the companies in the S&P 500 Index through the end of the relevant measurement period. Compensation expense for PSUs is expensed over the vesting period, which is a three- to four-year service period. | ||||||||||||||||
The total fair value of RSUs and PSUs that vested during 2013, 2012 and 2011 was $324 million, $251 million and $198 million, respectively. Total unrecognized compensation cost related to non-vested RSUs and PSUs at December 31, 2013 was $176 million, which is expected to be recognized over a weighted average period of 2.2 years. | ||||||||||||||||
The following table summarizes the Company's RSU and target PSU activity. | ||||||||||||||||
Weighted Average | ||||||||||||||||
RSUs and PSUs | Grant Date Fair Value | |||||||||||||||
Non-vested at December 31, 2012 | 13,300,969 | $ | 19.89 | |||||||||||||
Granted | 4,150,247 | 40.7 | ||||||||||||||
Vested | -7,355,952 | 16.32 | ||||||||||||||
Forfeited | -576,040 | 28.54 | ||||||||||||||
Non-vested at December 31, 2013 | 9,519,224 | $ | 31.2 | |||||||||||||
Stock Options and Equivalents | ||||||||||||||||
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. Stock options generally vest over a one- to four-year service period and expire eight years from the date of grant. Forfeitures are estimated on the date of grant based on historical forfeiture rates. On an annual basis, the Company adjusts the compensation expense based on actual forfeitures and revises the forfeiture rate as necessary. Stock option equivalents are settled in cash upon exercise and therefore, the Company remeasures the fair value of these awards at each reporting date. At each of December 31, 2013 and 2012, the Company had 2 million stock option equivalents outstanding. | ||||||||||||||||
The weighted average fair value of stock options as of the grant date was $12.11, $9.05 and $7.59 in 2013, 2012 and 2011, respectively. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions: | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Expected dividend yield | 1.49 | % | 1.92 | % | 2 | % | ||||||||||
Expected stock price volatility | 34.86 | % | 39.09 | % | 41.17 | % | ||||||||||
Risk-free interest rate | 0.97 | % | 0.94 | % | 2.33 | % | ||||||||||
Expected term of options (years) | 5 | 5.02 | 5.06 | |||||||||||||
The expected stock price volatility is determined using a weighted average of historical volatility for CBS Corp. Class B Common Stock and implied volatility of publicly traded options to purchase CBS Corp. Class B Common Stock. Given the existence of an actively traded market for CBS Corp. options, the Company was able to derive implied volatility using publicly traded options to purchase CBS Corp. Class B Common Stock that were trading near the grant date of the employee stock options at a similar exercise price and a remaining term of greater than one year. | ||||||||||||||||
The risk-free interest rate is based on a U.S. Treasury rate in effect on the date of grant with a term equal to the expected life. The expected term is determined based on historical employee exercise and post-vesting termination behavior. The expected dividend yield represents the Company's future expectation of the dividend yield based on current rates and historical patterns of dividend changes. | ||||||||||||||||
Total unrecognized compensation cost related to non-vested stock option awards at December 31, 2013 was $56 million, which is expected to be recognized over a weighted average period of 2.4 years. | ||||||||||||||||
The following table summarizes the Company's stock option activity under the Plans. | ||||||||||||||||
Weighted Average | ||||||||||||||||
Stock Options | Exercise Price | |||||||||||||||
Outstanding at December 31, 2012 | 34,033,101 | $ | 21.96 | |||||||||||||
Granted | 2,750,085 | 44.3 | ||||||||||||||
Exercised | -7,710,210 | 18.66 | ||||||||||||||
Forfeited or expired | -1,098,349 | 29.19 | ||||||||||||||
Outstanding at December 31, 2013 | 27,974,627 | $ | 24.78 | |||||||||||||
Exercisable at December 31, 2013 | 18,139,203 | $ | 22.25 | |||||||||||||
The following table summarizes other information relating to stock option exercises during the years ended December 31, 2013, 2012 and 2011. | ||||||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | |||||||||||||
Cash received from stock option exercises | $ | 146 | $ | 168 | $ | 72 | ||||||||||
Tax benefit of stock option exercises | $ | 88 | $ | 67 | $ | 45 | ||||||||||
Intrinsic value of stock option exercises | $ | 229 | $ | 174 | $ | 117 | ||||||||||
The following table summarizes information concerning outstanding and exercisable stock options to purchase CBS Corp. Class B Common Stock under the Plans at December 31, 2013. | ||||||||||||||||
Outstanding | Exercisable | |||||||||||||||
Remaining | Weighted | Weighted | ||||||||||||||
Range of | Number of | Contractual | Average | Number | Average | |||||||||||
Exercise Price | Options | Life (Years) | Exercise Price | of Options | Exercise Price | |||||||||||
$5 to 9.99 | 2,854,741 | 3.18 | $ | 5.22 | 2,854,741 | $ | 5.22 | |||||||||
$10 to 19.99 | 4,182,323 | 3.92 | $ | 13.8 | 2,662,606 | $ | 13.94 | |||||||||
$20 to 29.99 | 15,104,406 | 3.73 | $ | 26.47 | 10,009,437 | $ | 26.81 | |||||||||
$30 to 39.99 | 3,110,305 | 3.36 | $ | 32.23 | 2,595,311 | $ | 31.79 | |||||||||
$40 to 49.99 | 2,664,447 | 7.18 | $ | 44.05 | 17,108 | $ | 43.21 | |||||||||
$50 to 59.99 | 58,405 | 7.74 | $ | 57.37 | — | $ | — | |||||||||
27,974,627 | 18,139,203 | |||||||||||||||
At December 31, 2013 stock options outstanding have a weighted average remaining contractual life of 4.00 years and the total intrinsic value for “in-the-money” options, based on the Company's closing stock price of $63.74, was $1.09 billion. At December 31, 2013 stock options exercisable have a weighted average remaining contractual life of 2.98 years and the total intrinsic value for “in-the-money” exercisable options was $753 million. | ||||||||||||||||
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Income Taxes Disclosure [Abstract] | ' | |||||||||||||
Income Taxes | ' | |||||||||||||
12) INCOME TAXES | ||||||||||||||
The U.S. and foreign components of earnings from continuing operations before income taxes and equity in loss of investee companies were as follows: | ||||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | |||||||||||
United States | $ | 2,518 | $ | 2,236 | $ | 1,878 | ||||||||
Foreign | 379 | 325 | 301 | |||||||||||
Total | $ | 2,897 | $ | 2,561 | $ | 2,179 | ||||||||
The components of the provision for income taxes were as follows: | ||||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | |||||||||||
Current: | ||||||||||||||
Federal | $ | 395 | $ | 307 | $ | 190 | ||||||||
State and local | 92 | 76 | 52 | |||||||||||
Foreign | 66 | 67 | 57 | |||||||||||
553 | 450 | 299 | ||||||||||||
Deferred | 425 | 442 | 452 | |||||||||||
Provision for income taxes | $ | 978 | $ | 892 | $ | 751 | ||||||||
In addition, included in discontinued operations was an income tax benefit of $94 million and $18 million in 2013 and 2012, respectively, and an income tax provision of $13 million in 2011. | ||||||||||||||
The equity in loss of investee companies is shown net of tax on the Company's Consolidated Statements of Operations. The tax benefits relating to losses from equity investments in 2013, 2012 and 2011 were $29 million, $22 million, and $24 million, respectively, which represented an effective tax rate of 38.8% for 2013, 2012, and 2011. | ||||||||||||||
In 2013 and 2012, the Company realized tax benefits from the exercise of stock options and vesting of RSUs and PSUs of $210 million and $163 million, respectively. | ||||||||||||||
The difference between income taxes expected at the U.S. federal statutory income tax rate of 35% and the provision for income taxes is summarized as follows: | ||||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | |||||||||||
Taxes on income at U.S. federal statutory rate | $ | 1,014 | $ | 896 | $ | 763 | ||||||||
State and local taxes, net of federal tax benefit | 111 | 92 | 82 | |||||||||||
Effect of foreign operations | -88 | -64 | -73 | |||||||||||
Audit settlements, net | -17 | -3 | -6 | |||||||||||
Other, net (a) | -42 | -29 | -15 | |||||||||||
Provision for income taxes | $ | 978 | $ | 892 | $ | 751 | ||||||||
(a) Primarily reflects the Company's domestic production deduction. | ||||||||||||||
The following table summarizes the components of deferred income tax assets and liabilities. | ||||||||||||||
At December 31, | 2013 | 2012 | ||||||||||||
Deferred income tax assets: | ||||||||||||||
Provision for expenses and losses | $ | 721 | $ | 801 | ||||||||||
Pension, postretirement and other employee benefits | 431 | 641 | ||||||||||||
Tax credit and loss carryforwards | 679 | 284 | ||||||||||||
Other | 166 | 136 | ||||||||||||
Total deferred income tax assets | 1,997 | 1,862 | ||||||||||||
Valuation allowance | -644 | -249 | ||||||||||||
Deferred income tax assets, net | 1,353 | 1,613 | ||||||||||||
Deferred income tax liabilities: | ||||||||||||||
Intangible assets | -2,072 | -1,995 | ||||||||||||
Property, equipment and other assets | -694 | -610 | ||||||||||||
Total deferred income tax liabilities | -2,766 | -2,605 | ||||||||||||
Deferred income tax liabilities, net | $ | -1,413 | $ | -992 | ||||||||||
In addition to the deferred income taxes reflected in the table above, the Company included net noncurrent deferred income tax assets of $81 million and $29 million in “Assets of discontinued operations” on the Consolidated Balance Sheets at December 31, 2013 and 2012, respectively. | ||||||||||||||
At December 31, 2013, the Company had net operating loss carryforwards for federal, state and local, and foreign jurisdictions of approximately $1.24 billion, the majority of which expire in various years from 2014 through 2033. | ||||||||||||||
The 2013 and 2012 deferred income tax assets were reduced by a valuation allowance of $644 million and $249 million, respectively, principally relating to income tax benefits from capital losses and net operating losses in foreign jurisdictions which are not expected to be realized. | ||||||||||||||
The Company's share of the undistributed earnings of foreign subsidiaries not included in its consolidated federal income tax return that could be subject to additional income taxes if remitted was approximately $4.04 billion at December 31, 2013 and $3.54 billion at December 31, 2012. No provision has been recorded for the U.S. or foreign taxes that could result from the remittance of such undistributed earnings since the Company intends to distribute only the portion of such earnings which would be offset by U.S. foreign tax credits or remitted in tax-free transactions, and intends to reinvest the remainder outside the U.S. indefinitely. The determination of the unrecognized U.S. federal deferred income tax liability for undistributed earnings is not practicable. | ||||||||||||||
The following table sets forth the change in the reserve for uncertain tax positions, excluding related accrued interest and penalties. | ||||||||||||||
At January 1, 2011 | $ | 214 | ||||||||||||
Additions for current year tax positions | 11 | |||||||||||||
Additions for prior year tax positions | 12 | |||||||||||||
Reductions for prior year tax positions | -18 | |||||||||||||
Cash settlements | -23 | |||||||||||||
Statute of limitations lapses | -1 | |||||||||||||
At December 31, 2011 | 195 | |||||||||||||
Additions for current year tax positions | 12 | |||||||||||||
Additions for prior year tax positions | 10 | |||||||||||||
Reductions for prior year tax positions | -33 | |||||||||||||
Cash settlements | -8 | |||||||||||||
Statute of limitations lapses | -3 | |||||||||||||
At December 31, 2012 | 173 | |||||||||||||
Additions for current year tax positions | 11 | |||||||||||||
Additions for prior year tax positions | 14 | |||||||||||||
Reductions for prior year tax positions | -40 | |||||||||||||
Cash settlements | -17 | |||||||||||||
Statute of limitations lapses | -1 | |||||||||||||
At December 31, 2013 | $ | 140 | ||||||||||||
At December 31, 2013 and 2012, $52 million and $56 million, respectively, of the reserve for uncertain tax positions were included in “Liabilities of discontinued operations” on the Consolidated Balance Sheets. | ||||||||||||||
The reserve for uncertain tax positions of $140 million at December 31, 2013 includes $113 million which would affect the Company's effective income tax rate, including discontinued operations, if and when recognized in future years. | ||||||||||||||
The Company recognizes interest and penalty charges related to the reserve for uncertain tax positions as income tax expense. For the years ended December 31, 2013, 2012 and 2011, the Company recognized interest and penalties of $12 million, $13 million and $12 million, respectively, in the Consolidated Statements of Operations. As of December 31, 2013 and 2012, the Company has recorded liabilities for accrued interest and penalties of $57 million and $62 million, respectively, on the Consolidated Balance Sheets. | ||||||||||||||
During the third quarter of 2013, the Company and the IRS settled the Company's income tax audit for the years 2008, 2009 and 2010. The IRS commenced its examination of the years 2011 and 2012 in the fourth quarter of 2013. During the next twelve months the Company expects to settle an audit in a foreign jurisdiction related to a previously disposed business that is accounted for as a discontinued operation. In addition, various tax years are currently under examination by state and local and other foreign tax authorities. With respect to open tax years in all jurisdictions, the Company currently believes that it is reasonably possible that the reserve for uncertain tax positions will decrease within the next twelve months; however, as it is difficult to predict the final outcome of any particular tax matter, an estimate of any related impact to the reserve for uncertain tax positions cannot currently be determined. | ||||||||||||||
Pension_and_Other_Postretireme
Pension and Other Postretirement Benefits | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Pension And Other Postretirement Benefits Disclosure [Abstract] | ' | |||||||||||||||||||
Pension and Other Postretirement Benefits | ' | |||||||||||||||||||
13) PENSION AND OTHER POSTRETIREMENT BENEFITS | ||||||||||||||||||||
The Company and certain of its subsidiaries sponsor qualified and non-qualified defined benefit pension plans, principally non-contributory, covering eligible employees. The majority of participants in these plans are retired employees or former employees of previously divested businesses. Most of the Company's pension plans are closed to new entrants. The benefits for some plans are based primarily on an employee's years of service and average pay near retirement. Benefits under other plans are based primarily on an employee's pay for each year that the employee participated in the plan. Participating employees are vested in the plans after five years of service. The Company funds its pension plans in accordance with the Employee Retirement Income Security Act of 1974 (“ERISA”), the Pension Protection Act of 2006, the Internal Revenue Code of 1986 and the applicable rules and regulations. Plan assets consist principally of corporate bonds, equity securities and U.S. government securities. The Company's common stock represents approximately 2.2% and 1.3% of the plan assets' fair values at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||
In addition, the Company sponsors health and welfare plans that provide postretirement health care and life insurance benefits to eligible retired employees and their covered dependents. Eligibility is based in part on certain age and service requirements at the time of their retirement. Most of the plans are contributory and contain cost-sharing features such as deductibles and coinsurance which are adjusted annually. Claims are paid primarily by the Company's funds. | ||||||||||||||||||||
The Company uses a December 31 measurement date for all pension and other postretirement benefit plans. | ||||||||||||||||||||
The following table sets forth the change in benefit obligation for the Company's pension and postretirement benefit plans. | ||||||||||||||||||||
Pension Benefits | Postretirement Benefits | |||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||
Change in benefit obligation: | ||||||||||||||||||||
Benefit obligation, beginning of year | $ | 5,564 | $ | 5,191 | $ | 676 | $ | 697 | ||||||||||||
Service cost | 40 | 36 | — | — | ||||||||||||||||
Interest cost | 213 | 243 | 26 | 33 | ||||||||||||||||
Actuarial (gain) loss | -316 | 498 | -51 | 1 | ||||||||||||||||
Benefits paid | -416 | -413 | -79 | -78 | ||||||||||||||||
Participants' contributions | — | — | 10 | 11 | ||||||||||||||||
Retiree Medicare drug subsidy | — | — | 7 | 12 | ||||||||||||||||
Cumulative translation adjustments | -16 | 9 | — | — | ||||||||||||||||
Benefit obligation, end of year | $ | 5,069 | $ | 5,564 | $ | 589 | $ | 676 | ||||||||||||
The following table sets forth the change in plan assets for the Company's pension and postretirement benefit plans. | ||||||||||||||||||||
Pension Benefits | Postretirement Benefits | |||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||
Change in plan assets: | ||||||||||||||||||||
Fair value of plan assets, beginning of year | $ | 4,274 | $ | 3,948 | $ | 5 | $ | 5 | ||||||||||||
Actual return on plan assets | 182 | 476 | — | — | ||||||||||||||||
Employer contributions | 203 | 254 | 62 | 55 | ||||||||||||||||
Benefits paid | -416 | -413 | -79 | -78 | ||||||||||||||||
Participants' contributions | — | — | 10 | 11 | ||||||||||||||||
Retiree Medicare drug subsidy | — | — | 7 | 12 | ||||||||||||||||
Cumulative translation adjustments | -15 | 9 | — | — | ||||||||||||||||
Fair value of plan assets, end of year | $ | 4,228 | $ | 4,274 | $ | 5 | $ | 5 | ||||||||||||
The funded status of pension and postretirement benefit obligations and the related amounts recognized on the Company's Consolidated Balance Sheets were as follows: | ||||||||||||||||||||
Pension Benefits | Postretirement Benefits | |||||||||||||||||||
At December 31, | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||
Funded status at end of year | $ | -841 | $ | -1,290 | $ | -584 | $ | -671 | ||||||||||||
Amounts recognized on the Consolidated | ||||||||||||||||||||
Balance Sheets: | ||||||||||||||||||||
Other assets | $ | 17 | $ | 17 | $ | — | $ | — | ||||||||||||
Current liabilities | -50 | -51 | -62 | -67 | ||||||||||||||||
Noncurrent liabilities | -808 | -1,256 | -522 | -604 | ||||||||||||||||
Net amounts recognized | $ | -841 | $ | -1,290 | $ | -584 | $ | -671 | ||||||||||||
The Company's qualified pension plans were underfunded by $206 million and $595 million at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||
The following amounts were recognized in accumulated other comprehensive income (loss) on the Consolidated Balance Sheets. | ||||||||||||||||||||
Pension Benefits | Postretirement Benefits | |||||||||||||||||||
At December 31, | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||
Net actuarial (loss) gain | $ | -1,543 | $ | -1,854 | $ | 248 | $ | 213 | ||||||||||||
Net prior service (cost) credit | -12 | -14 | 1 | 2 | ||||||||||||||||
Share of equity investee | — | -1 | — | — | ||||||||||||||||
-1,555 | -1,869 | 249 | 215 | |||||||||||||||||
Deferred income taxes | 617 | 739 | -46 | -33 | ||||||||||||||||
Net amount recognized in accumulated other | ||||||||||||||||||||
comprehensive income (loss) | $ | -938 | $ | -1,130 | $ | 203 | $ | 182 | ||||||||||||
The accumulated benefit obligation for all defined benefit pension plans was $4.99 billion and $5.48 billion at December 31, 2013 and 2012, respectively. | ||||||||||||||||||||
Information for the pension plans with an accumulated benefit obligation in excess of plan assets is set forth below. | ||||||||||||||||||||
At December 31, | 2013 | 2012 | ||||||||||||||||||
Projected benefit obligation | $ | 4,892 | $ | 5,407 | ||||||||||||||||
Accumulated benefit obligation | $ | 4,816 | $ | 5,320 | ||||||||||||||||
Fair value of plan assets | $ | 4,037 | $ | 4,100 | ||||||||||||||||
The following tables present the components of net periodic benefit cost and amounts recognized in other comprehensive income (loss). | ||||||||||||||||||||
Pension Benefits | Postretirement Benefits | |||||||||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||
Components of net periodic cost: | ||||||||||||||||||||
Service cost | $ | 40 | $ | 36 | $ | 34 | $ | — | $ | — | $ | — | ||||||||
Interest cost | 213 | 243 | 249 | 26 | 33 | 38 | ||||||||||||||
Expected return on plan assets | -274 | -250 | -239 | — | — | — | ||||||||||||||
Amortization of actuarial losses (gains) | 86 | 71 | 65 | -16 | -16 | -10 | ||||||||||||||
Amortization of prior service cost (credit) | 2 | 1 | 2 | -1 | -1 | -1 | ||||||||||||||
Net periodic cost | $ | 67 | $ | 101 | $ | 111 | $ | 9 | $ | 16 | $ | 27 | ||||||||
Pension | Postretirement | |||||||||||||||||||
Year Ended December 31, 2013 | Benefits | Benefits | ||||||||||||||||||
Other comprehensive income (loss): | ||||||||||||||||||||
Actuarial gains | $ | 225 | $ | 51 | ||||||||||||||||
Amortization of actuarial losses (gains) (a) | 86 | -16 | ||||||||||||||||||
Amortization of prior service cost (credit) (a) | 2 | -1 | ||||||||||||||||||
Share of equity investee | 1 | — | ||||||||||||||||||
314 | 34 | |||||||||||||||||||
Deferred income taxes | -122 | -13 | ||||||||||||||||||
Recognized in other comprehensive income, net of tax | $ | 192 | $ | 21 | ||||||||||||||||
Reflects amounts reclassified from accumulated other comprehensive income (loss) to net earnings. | ||||||||||||||||||||
Estimated net actuarial losses and prior service costs related to the defined benefit pension plans of approximately $63 million and $2 million, respectively, will be amortized from accumulated other comprehensive income (loss) into net periodic benefit costs in 2014. | ||||||||||||||||||||
Estimated net actuarial gains and prior service credits related to the other postretirement benefit plans of approximately $21 million and $1 million, respectively, will be amortized from accumulated other comprehensive income (loss) into net periodic benefit costs in 2014. | ||||||||||||||||||||
Pension | Postretirement | |||||||||||||||||||
Benefits | Benefits | |||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||
Weighted average assumptions used to determine benefit obligations | ||||||||||||||||||||
at December 31: | ||||||||||||||||||||
Discount rate | 4.9 | % | 4 | % | 4.5 | % | 4 | % | ||||||||||||
Rate of compensation increase | 3 | % | 3 | % | N/A | N/A | ||||||||||||||
Weighted average assumptions used to determine net periodic costs | ||||||||||||||||||||
for the year ended December 31: | ||||||||||||||||||||
Discount rate | 4 | % | 4.9 | % | 4 | % | 4.9 | % | ||||||||||||
Expected long-term return on plan assets | 6.5 | % | 6.6 | % | 2 | % | 2 | % | ||||||||||||
Rate of compensation increase | 3 | % | 3 | % | N/A | N/A | ||||||||||||||
N/A - not applicable | ||||||||||||||||||||
The discount rates are determined based on the yield on portfolios of high quality bonds, constructed to provide cash flows necessary to meet the plans' expected future benefit payments, as determined for the benefit obligations. The expected return on plan assets assumption is derived using the current and expected asset allocation of the pension plan assets and considering historical as well as expected returns on various classes of plan assets. | ||||||||||||||||||||
The following additional assumptions were used in accounting for postretirement benefits. | ||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
Projected health care cost trend rate for participants of age 65 and below | 7.5 | % | 8 | % | ||||||||||||||||
Projected health care cost trend rate for participants above age 65 | 7.5 | % | 8 | % | ||||||||||||||||
Ultimate trend rate | 5 | % | 5 | % | ||||||||||||||||
Year ultimate trend rate is achieved for participants of age 65 and below | 2019 | 2019 | ||||||||||||||||||
Year ultimate trend rate is achieved for participants above 65 | 2019 | 2019 | ||||||||||||||||||
A one percentage point change in assumed health care cost trend rates would have the following effects: | ||||||||||||||||||||
One Percentage | One Percentage | |||||||||||||||||||
Point Increase | Point Decrease | |||||||||||||||||||
Effect on total service and interest cost components | $ | — | $ | — | ||||||||||||||||
Effect on the accumulated postretirement benefit obligation | $ | 12 | $ | -11 | ||||||||||||||||
Plan Assets | ||||||||||||||||||||
The asset allocations for the Company's U.S. qualified defined benefit pension plan trust and international pension plan trusts are based upon an analysis of the timing and amount of projected benefit payments, projected company contributions, the expected returns and risk of the asset classes and the correlation of those returns. The target asset allocation for the Company's U.S. pension plan trust, which accounted for 94% of total plan assets at December 31, 2013, is to invest between 70% - 80% in long duration fixed income instruments, 16% - 28% in equity securities and the remainder in cash and other investments. At December 31, 2013, this trust was invested approximately 72% in long duration fixed income portfolios, 26% in equity instruments, and the remainder in cash, cash equivalents and other investments. Other trusts, which fund the Company's international pension plans, accounted for 6% of total plan assets at December 31, 2013 and are invested approximately 62% in fixed income instruments, 30% in equity instruments, and the remainder in cash, cash equivalents and other investments. Long duration fixed income investments primarily consist of a diversified portfolio of investment grade fixed income instruments with a duration that approximates the duration of the liabilities covered by the trust. All equity portfolios are diversified between U.S. and non-U.S. equities and include large and small capitalization equities. The asset allocations are reviewed regularly. | ||||||||||||||||||||
The following tables set forth the Company's pension plan assets measured at fair value on a recurring basis at December 31, 2013 and 2012. These assets 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 quoted prices for the asset 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 in inactive markets or quoted prices for similar assets. Level 3 is based on unobservable inputs that market participants would use in pricing the asset. | ||||||||||||||||||||
At December 31, 2013 | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||
Cash and cash equivalents (a) | $ | 8 | $ | 58 | $ | — | $ | 66 | ||||||||||||
Fixed income securities: | ||||||||||||||||||||
U.S. treasury securities | 134 | — | — | 134 | ||||||||||||||||
Government related securities | 45 | 240 | — | 285 | ||||||||||||||||
Corporate bonds (b) | — | 2,383 | — | 2,383 | ||||||||||||||||
Mortgage-backed and asset-backed securities | — | 128 | 4 | 132 | ||||||||||||||||
Equity securities: (c) | ||||||||||||||||||||
U.S. large capitalization | 350 | 357 | — | 707 | ||||||||||||||||
U.S. small capitalization | 98 | 3 | — | 101 | ||||||||||||||||
International equity (d) | — | 307 | — | 307 | ||||||||||||||||
Limited partnerships | — | — | 55 | 55 | ||||||||||||||||
Other | — | 58 | — | 58 | ||||||||||||||||
Total assets | $ | 635 | $ | 3,534 | $ | 59 | $ | 4,228 | ||||||||||||
At December 31, 2012 | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||
Cash and cash equivalents (a) | $ | 25 | $ | 146 | $ | — | $ | 171 | ||||||||||||
Fixed income securities: | ||||||||||||||||||||
U.S. treasury securities | 102 | — | — | 102 | ||||||||||||||||
Government related securities | 58 | 361 | — | 419 | ||||||||||||||||
Corporate bonds (b) | — | 2,358 | — | 2,358 | ||||||||||||||||
Mortgage-backed and asset-backed securities | — | 176 | 4 | 180 | ||||||||||||||||
Equity securities: (c) | ||||||||||||||||||||
U.S. large capitalization | 268 | 334 | — | 602 | ||||||||||||||||
U.S. small capitalization | 69 | 6 | — | 75 | ||||||||||||||||
International equity (d) | 5 | 301 | — | 306 | ||||||||||||||||
Limited partnerships | — | — | 52 | 52 | ||||||||||||||||
Other | — | 9 | — | 9 | ||||||||||||||||
Total assets | $ | 527 | $ | 3,691 | $ | 56 | $ | 4,274 | ||||||||||||
Assets categorized as Level 2 reflect investments in money market funds. | ||||||||||||||||||||
Securities of diverse industries, substantially all investment grade. | ||||||||||||||||||||
Assets categorized as Level 2 reflect investments in common collective funds. | ||||||||||||||||||||
Includes investments in emerging market funds of $59 million in 2013 and 2012. | ||||||||||||||||||||
Money market investments are carried at amortized cost which approximates fair value due to the short-term maturity of these investments. Investments in equity securities are reported at fair value based on quoted market prices on national security exchanges. The fair value of investments in common collective funds are determined using the Net Asset Value (“NAV”) provided by the administrator of the fund. The NAV is determined by each fund's trustee based upon the fair value of the underlying assets owned by the fund, less liabilities, divided by the number of outstanding units. The fair value of U.S. treasury securities is determined based on quoted market prices in active markets. The fair value of government related securities and corporate bonds is determined based on quoted market prices on national security exchanges, when available, or using valuation models which incorporate certain other observable inputs including recent trading activity for comparable securities and broker quoted prices. The fair value of mortgage-backed and asset-backed securities is based upon valuation models which incorporate available dealer quotes and market information. Limited partnerships are valued using statements issued by the partnership which determine the value based on the fair value of the underlying investments. | ||||||||||||||||||||
The table below sets forth a summary of changes in the fair value of investments reflected as Level 3 at December 31, 2013. | ||||||||||||||||||||
Mortgage- | ||||||||||||||||||||
Limited | backed | |||||||||||||||||||
Partnerships | Securities | Total | ||||||||||||||||||
At January 1, 2012 | $ | 75 | $ | 5 | $ | 80 | ||||||||||||||
Actual return related to investments held at end of year | 6 | — | 6 | |||||||||||||||||
Distributions | -29 | -1 | -30 | |||||||||||||||||
At December 31, 2012 | 52 | 4 | 56 | |||||||||||||||||
Actual return related to investments held at end of year | 4 | — | 4 | |||||||||||||||||
Distributions | -1 | — | -1 | |||||||||||||||||
At December 31, 2013 | $ | 55 | $ | 4 | $ | 59 | ||||||||||||||
The Company's other postretirement benefits plan assets of $5 million at both December 31, 2013 and 2012 were invested in U.S. fixed income index funds, which are categorized as Level 2 assets. | ||||||||||||||||||||
Future Benefit Payments | ||||||||||||||||||||
Estimated future benefit payments are as follows: | ||||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | 2019-2023 | |||||||||||||||
Pension | $ | 409 | $ | 400 | $ | 389 | $ | 381 | $ | 373 | $ | 1,727 | ||||||||
Postretirement | $ | 72 | $ | 71 | $ | 68 | $ | 66 | $ | 63 | $ | 266 | ||||||||
Retiree Medicare drug subsidy | $ | 10 | $ | 10 | $ | 10 | $ | 10 | $ | 10 | $ | 44 | ||||||||
In 2014, the Company expects to make contributions of approximately $50 million to its non-qualified pension plans to satisfy the benefit payments due under these plans. Also in 2014, the Company expects to contribute approximately $62 million to its other postretirement benefit plans to satisfy the Company's portion of benefit payments due under these plans. | ||||||||||||||||||||
Multiemployer Pension and Postretirement Benefit Plans | ||||||||||||||||||||
The Company contributes to a number of multiemployer defined benefit pension plans under the terms of collective-bargaining agreements that cover its union-represented employees including talent, writers, directors, producers and other employees, primarily in the entertainment industry. The other employers participating in these multiemployer plans are primarily in the entertainment and other related industries. The risks of participating in multiemployer plans are different from single-employer plans as assets contributed to the multiemployer plan by one employer may be used to provide benefits to employees of other participating employers and if a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers. In addition, if the Company chooses to stop participating in some of its multiemployer plans it may be required to pay those plans a withdrawal liability based on the underfunded status of the plan. | ||||||||||||||||||||
The financial health of a multiemployer plan is indicated by the zone status, as defined by the Pension Protection Act of 2006, which represents the funded status of the plan as certified by the plan's actuary. Plans in the red zone are less than 65% funded, the yellow zone are between 65% and 80% funded, and green zone are at least 80% funded. | ||||||||||||||||||||
The table below presents information concerning the Company's participation in multiemployer defined benefit pension plans. | ||||||||||||||||||||
Expiration | ||||||||||||||||||||
Employer | Pension | Date of | ||||||||||||||||||
Identification | Protection Act | Collective- | ||||||||||||||||||
Number/Pension | Zone Status (a) | Company Contributions | Bargaining | |||||||||||||||||
Pension Plan | Plan Number | 2013 | 2012 | 2013 | 2012 | 2011 | Agreement | |||||||||||||
AFTRA Retirement Plan (b) | 13-6414972-001 | Green | Green | $ | 7 | $ | 7 | $ | 7 | (c) | ||||||||||
Directors Guild of America - Producer | 51-0137697-001 | Green | Green | 5 | 4 | 4 | 6/30/17 | |||||||||||||
Producer-Writers Guild of America | 95-2216351-001 | Green | Green | 8 | 8 | 6 | 5/1/14 | |||||||||||||
Screen Actors Guild - Producers | 95-2110997-001 | Green | Green | 7 | 6 | 6 | 6/30/14 | |||||||||||||
Motion Picture Industry | 95-1810805-001 | Green | Green | 7 | 7 | 8 | (d) | |||||||||||||
Other Plans | 10 | 8 | 6 | |||||||||||||||||
Total contributions | $ | 44 | $ | 40 | $ | 37 | ||||||||||||||
The Zone status for each individual plan listed was certified by each plan's actuary as of the beginning of the plan years for 2013 and 2012. The plan year is the twelve months ending December 31 for each plan listed above except AFTRA Retirement Plan which has a plan year ending November 30. | ||||||||||||||||||||
The Company was listed in AFTRA Retirement Plan's Form 5500 as providing more than 5% of total contributions for the plan year ended November 30, 2012. | ||||||||||||||||||||
The expiration dates range from June 30, 2014 through November 15, 2014. | ||||||||||||||||||||
The expiration dates range from May 15, 2015 through March 2, 2016. | ||||||||||||||||||||
As a result of the above noted zone status there were no funding improvements or rehabilitation plans implemented, as defined by ERISA, nor any surcharges imposed for any of the individual plans listed. | ||||||||||||||||||||
The Company also contributes to multiemployer plans that provide postretirement healthcare, defined contribution and other benefits to certain employees under collective bargaining agreements. The contributions to these plans were $17 million, $19 million and $20 million for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||||||||||||
The Company recognizes the net periodic cost for multiemployer pension and postretirement benefit plans based on the required contributions to the plans. | ||||||||||||||||||||
Defined Contribution Plans | ||||||||||||||||||||
The Company sponsors defined contribution plans for the benefit of substantially all employees meeting eligibility requirements. Employer contributions to such plans were $53 million, $49 million and $46 million for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||||||||||||||
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||||||||
Commitments and Contingencies | ' | ||||||||||||
14) COMMITMENTS AND CONTINGENCIES | |||||||||||||
The Company's commitments not recorded on the balance sheet primarily consist of programming and talent commitments, operating lease arrangements, purchase obligations for goods and services, and guaranteed minimum franchise payments resulting from the Company's normal course of business. | |||||||||||||
Programming and talent commitments of the Company, estimated to aggregate $14.48 billion as of December 31, 2013, primarily include $11.23 billion for sports programming rights, $2.47 billion relating to the production and licensing of television, radio, and film programming and $773 million for talent contracts. The Company also has committed purchase obligations which include agreements to purchase goods and services in the future that totaled $1.05 billion as of December 31, 2013. | |||||||||||||
Other long-term contractual obligations recorded on the Company's Consolidated Balance Sheet include program liabilities, participations due to producers and residuals. | |||||||||||||
At December 31, 2013, commitments for programming and talent and purchase obligations not recorded on the balance sheet and other long-term contractual obligations recorded on the balance sheet were payable as follows: | |||||||||||||
Programming | Purchase | Other Long-term | |||||||||||
and Talent | Obligations | Contractual Obligations | |||||||||||
2014 | $ | 2,356 | $ | 240 | $ | — | |||||||
2015 | 1,799 | 208 | 639 | ||||||||||
2016 | 1,708 | 131 | 313 | ||||||||||
2017 | 1,463 | 113 | 94 | ||||||||||
2018 | 1,451 | 107 | 56 | ||||||||||
2019 and thereafter | 5,703 | 246 | 53 | ||||||||||
Total | $ | 14,480 | $ | 1,045 | $ | 1,155 | |||||||
The Company has long-term operating lease commitments for office space, billboards, equipment, transponders and studio facilities. At December 31, 2013, future minimum operating lease payments are estimated to aggregate $1.79 billion, of which $640 million relates to Outdoor Americas billboards. The Company also enters into capital leases for satellite transponders. | |||||||||||||
In addition, Outdoor Americas has agreements with municipalities and transit operators which entitle it to operate advertising displays within their transit systems, including on the interior and exterior of rail and subway cars and buses, as well as on benches, transit shelters, mall and street kiosks, and transit platforms. Under most of these franchise agreements, the franchisor is entitled to receive the greater of a percentage of the relevant advertising revenues, net of advertising agency fees, or a specified guaranteed minimum annual payment. | |||||||||||||
At December 31, 2013, minimum rental payments under noncancellable operating leases with terms in excess of one year and guaranteed minimum franchise payments under agreements with municipalities and transit operators are as follows: | |||||||||||||
Leases | Guaranteed Minimum | ||||||||||||
Capital | Operating | Franchise Payments | |||||||||||
2014 | $ | 21 | $ | 251 | $ | 151 | |||||||
2015 | 20 | 225 | 97 | ||||||||||
2016 | 19 | 201 | 22 | ||||||||||
2017 | 15 | 177 | 15 | ||||||||||
2018 | 15 | 154 | 7 | ||||||||||
2019 and thereafter | 44 | 783 | 39 | ||||||||||
Total minimum payments | $ | 134 | $ | 1,791 | $ | 331 | |||||||
Less amounts representing interest | 21 | ||||||||||||
Present value of minimum payments | $ | 113 | |||||||||||
Future minimum operating lease payments have been reduced by future minimum sublease income of $72 million. Rent expense was $503 million (2013), $487 million (2012) and $483 million (2011). | |||||||||||||
Guarantees | |||||||||||||
On September 30, 2013 the Company completed the sale of Outdoor Europe to an affiliate of Platinum Equity. The Company continues to remain as guarantor of Outdoor Europe's franchise payment obligations under certain transit franchise agreements. Generally, the Company would be required to perform under the guarantees in the event of non-performance by the buyer. These agreements have varying terms, with the majority of the obligations guaranteed under these agreements expiring by September 2016. At December 31, 2013, the total franchise payment obligations under these agreements are estimated to be approximately $280 million, which will decrease on a monthly basis thereafter. The estimated fair value of the guarantee liability of approximately $40 million is included in “Liabilities of discontinued operations” on the Consolidated Balance Sheet at December 31, 2013. | |||||||||||||
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 December 31, 2013, the outstanding letters of credit and surety bonds approximated $321 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 under generally accepted accounting principles. | |||||||||||||
Legal Matters | |||||||||||||
E-books Matters. A number of lawsuits described below have been pending against the following parties relating to the sale of e-books: Apple Inc., Hachette Book Group, Inc., HarperCollins Publishers, LLC, Holtzbrinck Publishers LLC d/b/a Macmillan, Penguin Group (USA) Inc. and the Company's subsidiary, Simon & Schuster, Inc. (collectively, the "Publishing parties"). | |||||||||||||
On April 10, 2012, for purposes of settlement and without any admission of wrongdoing or liability, Simon & Schuster and two of the other Publishing parties entered into a settlement stipulation and proposed final judgment (the "Stipulation") with the United States Department of Justice (the "DOJ") in connection with the DOJ's investigations of agency distribution of e-books. In furtherance of this settlement, on April 11, 2012, the DOJ filed an antitrust action in the United States District Court for the Southern District of New York against the Publishing parties and concurrently filed the Stipulation with the court. On September 7, 2012, the Stipulation was approved by the court and final judgment was entered. The Stipulation does not involve any monetary payments by Simon & Schuster, but will require the adoption of certain business practices for a 24 month period (the “24 Month Period”) and certain compliance practices for a five year period. Following a ruling in favor of the DOJ and a judgment against Apple that was entered by the court on September 6, 2013, Apple filed an appeal, which will be heard by the United States Court of Appeals for the Second Circuit. On October 4, 2013, Simon & Schuster filed an appeal with the court relating to an aspect of the Apple judgment involving the 24 Month Period. | |||||||||||||
On June 11, 2012, for purposes of settlement and without any admission of wrongdoing or liability, Simon & Schuster entered into a proposed settlement agreement to resolve the antitrust action filed by a number of states and the Commonwealth of Puerto Rico against several of the Publishing parties in the United States District Court for the Western District of Texas, which was transferred to the United States District Court for the Southern District of New York ("States") on April 30, 2012. The proposed settlement provides that, certain Publishing parties, including Simon & Schuster, will pay agreed upon amounts for consumer restitution, among other things, and also requires the adoption of certain business and compliance practices, which are substantially similar to those described in the Stipulation with the DOJ. On September 14, 2012, the court granted preliminary approval of the proposed settlement, which all states (except Minnesota), the District of Columbia and the United States territories joined. On October 15, 2012, Simon & Schuster paid the agreed upon amounts into an escrow account pending final court approval. On February 8, 2013, the court approved the proposed settlement following a final settlement approval hearing that day. On June 20, 2013, Simon & Schuster and certain other Publishing parties entered into a settlement agreement in the MDL litigation (as described below) covering claims of Minnesota residents (the “Minnesota Settlement”). The Minnesota Settlement was approved by the court on December 6, 2013. The Company believes that the settlements with the DOJ, the States and the Minnesota Settlement will not have a material adverse effect on its results of operations, financial position or cash flows. | |||||||||||||
On December 9, 2011, the United States Judicial Panel on Multidistrict Litigation (the "MDL") issued an order consolidating in the United States District Court for the Southern District of New York various purported class action suits that private litigants had filed in federal courts in California and New York. On January 20, 2012, the plaintiffs filed a consolidated amended class action complaint with the court against the Publishing parties. These private litigant plaintiffs, who are e-book purchasers, allege that, among other things, the defendants are in violation of federal and/or state antitrust laws in connection with the sale of e-books pursuant to agency distribution arrangements between each of the publishers and e-book retailers. The consolidated amended class action complaint generally seeks multiple forms of damages for the purchase of e-books and injunctive and other relief. On March 2, 2012, the Publishing parties filed a motion to dismiss this action. On May 15, 2012, the court denied the motion to dismiss. As noted above, on June 20, 2013, Simon & Schuster entered into the Minnesota Settlement, which was approved by the court on December 6, 2013. Upon final approval of the Minnesota Settlement by the court, Simon & Schuster was dismissed with prejudice from the MDL litigation and only those individuals who elect to opt out of the States settlement or the Minnesota Settlement will have any potential claims against Simon & Schuster. | |||||||||||||
Similar antitrust suits have been filed against the Publishing parties by private litigants in Canada, purportedly as class actions, under Canadian law, commencing on February 24, 2012; and by an Australian e-book retailer in the United States Court for the Southern District of New York on September 16, 2013. Simon & Schuster intends to defend itself in these matters. | |||||||||||||
In addition, the European Commission (the "EC") and Canadian Competition Bureau (the “CCB”) conducted separate competition investigations of agency distribution arrangements of e-books in this industry. On December 12, 2012, following the close of a comment period, the EC entered into settlement agreements with Simon & Schuster and certain Publishing parties. The CCB also entered into a settlement agreement with Simon & Schuster and certain Publishing parties, which was effective on February 7, 2014. These settlements require the adoption of certain business and compliance practices similar to those described in the Stipulation with the DOJ. | |||||||||||||
Claims Related to Former Businesses: Asbestos. The Company is a defendant in lawsuits claiming various personal injuries related to asbestos and other materials, which allegedly occurred principally as a result of exposure caused by various products manufactured by Westinghouse, a predecessor, generally prior to the early 1970s. Westinghouse was neither a producer nor a manufacturer of asbestos. The Company is typically named as one of a large number of defendants in both state and federal cases. In the majority of asbestos lawsuits, the plaintiffs have not identified which of the Company's products is the basis of a claim. Claims against the Company in which a product has been identified principally relate to exposures allegedly caused by asbestos-containing insulating material in turbines sold for power-generation, industrial and marine use, or by asbestos-containing grades of decorative micarta, a laminate used in commercial ships. | |||||||||||||
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 December 31, 2013, the Company had pending approximately 45,150 asbestos claims, as compared with approximately 45,900 as of December 31, 2012 and 50,090 as of December 31, 2011. During 2013, the Company received approximately 4,310 new claims and closed or moved to an inactive docket approximately 5,060 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 claim, the quality of evidence supporting the claims and other factors. The Company's total costs for the years 2013 and 2012 for settlement and defense of asbestos claims after insurance recoveries and net of tax benefits were approximately $29 million and $21 million, respectively. The Company's costs for settlement and defense of asbestos claims may vary year to year and insurance proceeds are not always recovered in the same period as the insured portion of the expenses. | |||||||||||||
The Company believes that its reserves and insurance are adequate to cover its asbestos liabilities. This belief is based upon many factors and assumptions, including the number of outstanding claims, estimated average cost per claim, the breakdown of claims by disease type, historic claim filings, costs per claim of resolution and the filing of new claims. While the number of asbestos claims filed against the Company has trended down in the past five to ten years and has remained flat in recent years, it is difficult to predict future asbestos liabilities, as events and circumstances may occur including, among others, the number and types of claims and average cost to resolve such claims, which could affect the Company's estimate of its asbestos liabilities. | |||||||||||||
Other. The Company from time to time receives claims from federal and state environmental regulatory agencies and other entities asserting that it is or may be liable for environmental cleanup costs and related damages principally relating to historical and predecessor operations of the Company. In addition, the Company from time to time receives personal injury claims including toxic tort and product liability claims (other than asbestos) arising from historical operations of the Company and its predecessors. | |||||||||||||
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 and local 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 above-described legal matters and other litigation to which it is a party are not likely, in the aggregate, to have a material adverse effect on its results of operations, financial position or cash flows. Under the Separation Agreement between the Company and Viacom Inc., the Company and Viacom Inc. have agreed to defend and indemnify the other in certain litigation in which the Company and/or Viacom Inc. is named. | |||||||||||||
Reportable_Segments
Reportable Segments | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Reportable Segments Disclosure [Abstract] | ' | ||||||||||||||
Reportable Segments | ' | ||||||||||||||
15) REPORTABLE SEGMENTS | |||||||||||||||
The following tables set forth the Company's financial performance by reportable segment. The Company's operating segments, which are the same as its reportable segments, have been determined in accordance with the Company's internal management structure, which is organized based upon products and services. | |||||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | ||||||||||||
Revenues: | |||||||||||||||
Entertainment | $ | 8,645 | $ | 7,694 | $ | 7,457 | |||||||||
Cable Networks | 2,069 | 1,772 | 1,621 | ||||||||||||
Publishing | 809 | 790 | 787 | ||||||||||||
Local Broadcasting | 2,696 | 2,774 | 2,689 | ||||||||||||
Outdoor Americas | 1,304 | 1,296 | 1,286 | ||||||||||||
Eliminations | -239 | -237 | -203 | ||||||||||||
Total Revenues | $ | 15,284 | $ | 14,089 | $ | 13,637 | |||||||||
Revenues generated between segments primarily reflect advertising sales and television and feature film license fees. These transactions are recorded at market value as if the sales were to third parties and are eliminated in consolidation. | |||||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | ||||||||||||
Intercompany Revenues: | |||||||||||||||
Entertainment | $ | 208 | $ | 203 | $ | 160 | |||||||||
Cable Networks | — | — | 1 | ||||||||||||
Local Broadcasting | 17 | 19 | 20 | ||||||||||||
Outdoor Americas | 14 | 15 | 22 | ||||||||||||
Total Intercompany Revenues | $ | 239 | $ | 237 | $ | 203 | |||||||||
The Company presents operating income (loss) before depreciation and amortization (“OIBDA”), restructuring charges and impairment charges (“Segment OIBDA”) 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 OIBDA 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. | |||||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | ||||||||||||
Segment OIBDA: | |||||||||||||||
Entertainment | $ | 1,758 | $ | 1,549 | $ | 1,431 | |||||||||
Cable Networks | 898 | 811 | 707 | ||||||||||||
Publishing | 113 | 89 | 92 | ||||||||||||
Local Broadcasting | 898 | 957 | 849 | ||||||||||||
Outdoor Americas | 411 | 378 | 380 | ||||||||||||
Corporate | -342 | -296 | -302 | ||||||||||||
Total Segment OIBDA | 3,736 | 3,488 | 3,157 | ||||||||||||
Restructuring charges | -20 | -19 | -43 | ||||||||||||
Impairment charges | — | -11 | — | ||||||||||||
Depreciation and amortization | -457 | -475 | -495 | ||||||||||||
Operating income | 3,259 | 2,983 | 2,619 | ||||||||||||
Interest expense | -376 | -402 | -435 | ||||||||||||
Interest income | 8 | 6 | 6 | ||||||||||||
Net loss on early extinguishment of debt | — | -32 | — | ||||||||||||
Other items, net | 6 | 6 | -11 | ||||||||||||
Earnings from continuing operations before income | |||||||||||||||
taxes and equity in loss of investee companies | 2,897 | 2,561 | 2,179 | ||||||||||||
Provision for income taxes | -978 | -892 | -751 | ||||||||||||
Equity in loss of investee companies, net of tax | -46 | -35 | -37 | ||||||||||||
Net earnings from continuing operations | 1,873 | 1,634 | 1,391 | ||||||||||||
Net earnings (loss) from discontinued operations, | |||||||||||||||
net of tax | 6 | -60 | -86 | ||||||||||||
Net earnings | $ | 1,879 | $ | 1,574 | $ | 1,305 | |||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | ||||||||||||
Operating Income (Loss): | |||||||||||||||
Entertainment | $ | 1,593 | $ | 1,381 | $ | 1,231 | |||||||||
Cable Networks | 877 | 785 | 684 | ||||||||||||
Publishing | 106 | 80 | 83 | ||||||||||||
Local Broadcasting | 807 | 848 | 750 | ||||||||||||
Outdoor Americas | 243 | 209 | 197 | ||||||||||||
Corporate | -367 | -320 | -326 | ||||||||||||
Total Operating Income | $ | 3,259 | $ | 2,983 | $ | 2,619 | |||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | ||||||||||||
Depreciation and Amortization: | |||||||||||||||
Entertainment | $ | 153 | $ | 161 | $ | 160 | |||||||||
Cable Networks | 20 | 26 | 23 | ||||||||||||
Publishing | 6 | 6 | 7 | ||||||||||||
Local Broadcasting | 86 | 90 | 99 | ||||||||||||
Outdoor Americas | 168 | 169 | 182 | ||||||||||||
Corporate | 24 | 23 | 24 | ||||||||||||
Total Depreciation and Amortization | $ | 457 | $ | 475 | $ | 495 | |||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | ||||||||||||
Stock-based Compensation: | |||||||||||||||
Entertainment | $ | 56 | $ | 49 | $ | 45 | |||||||||
Cable Networks | 8 | 6 | 4 | ||||||||||||
Publishing | 4 | 3 | 3 | ||||||||||||
Local Broadcasting | 27 | 24 | 22 | ||||||||||||
Outdoor Americas | 7 | 6 | 5 | ||||||||||||
Corporate | 127 | 65 | 60 | ||||||||||||
Total Stock-based Compensation | $ | 229 | $ | 153 | $ | 139 | |||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | ||||||||||||
Capital Expenditures: | |||||||||||||||
Entertainment | $ | 101 | $ | 92 | $ | 94 | |||||||||
Cable Networks | 16 | 18 | 15 | ||||||||||||
Publishing | 4 | 5 | 7 | ||||||||||||
Local Broadcasting | 64 | 64 | 69 | ||||||||||||
Outdoor Americas | 58 | 54 | 46 | ||||||||||||
Corporate | 27 | 21 | 14 | ||||||||||||
Total Capital Expenditures | $ | 270 | $ | 254 | $ | 245 | |||||||||
At December 31, | 2013 | 2012 | |||||||||||||
Assets: | |||||||||||||||
Entertainment | $ | 9,657 | $ | 9,023 | |||||||||||
Cable Networks | 1,968 | 1,750 | |||||||||||||
Publishing | 1,026 | 1,033 | |||||||||||||
Local Broadcasting | 9,600 | 9,614 | |||||||||||||
Outdoor Americas | 3,342 | 3,542 | |||||||||||||
Corporate | 676 | 1,026 | |||||||||||||
Discontinued operations | 118 | 478 | |||||||||||||
Total Assets | $ | 26,387 | $ | 26,466 | |||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | ||||||||||||
Revenues by Type: | |||||||||||||||
Advertising | $ | 8,803 | $ | 8,459 | $ | 8,399 | |||||||||
Content licensing and distribution | 3,997 | 3,468 | 3,236 | ||||||||||||
Affiliate and subscription fees | 2,221 | 1,921 | 1,762 | ||||||||||||
Other | 263 | 241 | 240 | ||||||||||||
Total Revenues | $ | 15,284 | $ | 14,089 | $ | 13,637 | |||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | ||||||||||||
Revenues:(a) | |||||||||||||||
United States | $ | 13,293 | $ | 12,358 | $ | 12,055 | |||||||||
International | 1,991 | 1,731 | 1,582 | ||||||||||||
Total Revenues | $ | 15,284 | $ | 14,089 | $ | 13,637 | |||||||||
At December 31, | 2013 | 2012 | |||||||||||||
Long-lived Assets: (b) | |||||||||||||||
United States | $ | 20,169 | $ | 19,850 | |||||||||||
International | 533 | 722 | |||||||||||||
Total Long-lived Assets | $ | 20,702 | $ | 20,572 | |||||||||||
Transactions within the Company between the United States and international regions were not significant. | |||||||||||||||
(a) Revenue classifications are based on customers' locations. | |||||||||||||||
(b) Reflects total assets from both continuing and discontinued operations less current assets, investments and | |||||||||||||||
noncurrent deferred tax assets. | |||||||||||||||
Other_Items_Net
Other Items, Net | 12 Months Ended |
Dec. 31, 2013 | |
Other Items Net Disclosure [Abstract] | ' |
Other Items, Net | ' |
16) OTHER ITEMS, NET | |
For all periods presented, “Other items, net” primarily consisted of foreign exchange gains and losses. |
Supplemental_Cash_Flow_Informa
Supplemental Cash Flow Information | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Supplemental Cash Flow Information [Abstract] | ' | ||||||||||
Supplemental Cash Flow Information | ' | ||||||||||
17) SUPPLEMENTAL CASH FLOW INFORMATION | |||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | ||||||||
Cash paid for interest, net of amounts capitalized | $ | 360 | $ | 441 | $ | 419 | |||||
Cash paid for income taxes: | |||||||||||
Continuing operations | $ | 422 | $ | 425 | $ | 233 | |||||
Discontinued operations | -36 | -19 | 2 | ||||||||
Total | $ | 386 | $ | 406 | $ | 235 | |||||
Year Ended December 31, | 2013 | 2012 | 2011 | ||||||||
Non-cash investing and financing activities: | |||||||||||
Equipment acquired under capitalized leases | $ | 58 | $ | 13 | $ | 7 | |||||
Investment in investee companies | $ | 13 | $ | — | $ | — | |||||
Contingent consideration associated with acquisitions | $ | — | $ | 4 | $ | 56 |
Quarterly_Financial_Data_unaud
Quarterly Financial Data (unaudited) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Data Abstract | ' | ||||||||||||||||
Quarterly Financial Data (unaudited) | ' | ||||||||||||||||
18) QUARTERLY FINANCIAL DATA (unaudited): | |||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
2013(a) | Quarter | Quarter | Quarter | Quarter | Total Year | ||||||||||||
Revenues: | |||||||||||||||||
Entertainment | $ | 2,539 | $ | 2,008 | $ | 1,884 | $ | 2,214 | $ | 8,645 | |||||||
Cable Networks | 478 | 518 | 596 | 477 | 2,069 | ||||||||||||
Publishing | 171 | 189 | 224 | 225 | 809 | ||||||||||||
Local Broadcasting | 638 | 698 | 641 | 719 | 2,696 | ||||||||||||
Outdoor Americas | 281 | 335 | 341 | 347 | 1,304 | ||||||||||||
Eliminations | -67 | -49 | -52 | -71 | -239 | ||||||||||||
Total Revenues | $ | 4,040 | $ | 3,699 | $ | 3,634 | $ | 3,911 | $ | 15,284 | |||||||
Segment OIBDA: | |||||||||||||||||
Entertainment | $ | 480 | $ | 429 | $ | 431 | $ | 418 | $ | 1,758 | |||||||
Cable Networks | 231 | 207 | 261 | 199 | 898 | ||||||||||||
Publishing | 12 | 21 | 43 | 37 | 113 | ||||||||||||
Local Broadcasting | 199 | 255 | 181 | 263 | 898 | ||||||||||||
Outdoor Americas | 74 | 107 | 110 | 120 | 411 | ||||||||||||
Corporate | -80 | -67 | -85 | -110 | -342 | ||||||||||||
Total Segment OIBDA | 916 | 952 | 941 | 927 | 3,736 | ||||||||||||
Restructuring charges | — | — | — | -20 | -20 | ||||||||||||
Depreciation and amortization | -116 | -114 | -113 | -114 | -457 | ||||||||||||
Total Operating Income | $ | 800 | $ | 838 | $ | 828 | $ | 793 | $ | 3,259 | |||||||
Operating Income (Loss): | |||||||||||||||||
Entertainment | $ | 440 | $ | 391 | $ | 394 | $ | 368 | $ | 1,593 | |||||||
Cable Networks | 227 | 202 | 255 | 193 | 877 | ||||||||||||
Publishing | 10 | 20 | 41 | 35 | 106 | ||||||||||||
Local Broadcasting | 176 | 234 | 161 | 236 | 807 | ||||||||||||
Outdoor Americas | 32 | 65 | 68 | 78 | 243 | ||||||||||||
Corporate | -85 | -74 | -91 | -117 | -367 | ||||||||||||
Total Operating Income | $ | 800 | $ | 838 | $ | 828 | $ | 793 | $ | 3,259 | |||||||
Net earnings from continuing operations | $ | 463 | $ | 476 | $ | 469 | $ | 465 | $ | 1,873 | |||||||
Net earnings | $ | 443 | $ | 472 | $ | 494 | $ | 470 | $ | 1,879 | |||||||
Basic net earnings per common share: | |||||||||||||||||
Net earnings from continuing operations | $ | 0.75 | $ | 0.78 | $ | 0.78 | $ | 0.78 | $ | 3.08 | |||||||
Net earnings | $ | 0.71 | $ | 0.78 | $ | 0.82 | $ | 0.78 | $ | 3.09 | |||||||
Diluted net earnings per common share: | |||||||||||||||||
Net earnings from continuing operations | $ | 0.73 | $ | 0.76 | $ | 0.76 | $ | 0.76 | $ | 3 | |||||||
Net earnings | $ | 0.69 | $ | 0.76 | $ | 0.8 | $ | 0.76 | $ | 3.01 | |||||||
Weighted average number of common shares | |||||||||||||||||
outstanding: | |||||||||||||||||
Basic | 621 | 609 | 603 | 599 | 608 | ||||||||||||
Diluted | 638 | 624 | 618 | 615 | 624 | ||||||||||||
Dividends per common share | $ | 0.12 | $ | 0.12 | $ | 0.12 | $ | 0.12 | $ | 0.48 | |||||||
During 2013, the Company completed the sale of Outdoor Europe which has been presented as a discontinued operation in the consolidated financial statements for all periods presented. | |||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
2012(a) | Quarter | Quarter | Quarter | Quarter | Total Year | ||||||||||||
Revenues: | |||||||||||||||||
Entertainment | $ | 2,318 | $ | 1,707 | $ | 1,680 | $ | 1,989 | $ | 7,694 | |||||||
Cable Networks | 452 | 446 | 436 | 438 | 1,772 | ||||||||||||
Publishing | 176 | 189 | 210 | 215 | 790 | ||||||||||||
Local Broadcasting | 622 | 704 | 661 | 787 | 2,774 | ||||||||||||
Outdoor Americas | 288 | 334 | 334 | 340 | 1,296 | ||||||||||||
Eliminations | -60 | -51 | -55 | -71 | -237 | ||||||||||||
Total Revenues | $ | 3,796 | $ | 3,329 | $ | 3,266 | $ | 3,698 | $ | 14,089 | |||||||
Segment OIBDA: | |||||||||||||||||
Entertainment | $ | 411 | $ | 426 | $ | 384 | $ | 328 | $ | 1,549 | |||||||
Cable Networks | 209 | 190 | 227 | 185 | 811 | ||||||||||||
Publishing | 10 | 9 | 39 | 31 | 89 | ||||||||||||
Local Broadcasting | 171 | 248 | 213 | 325 | 957 | ||||||||||||
Outdoor Americas | 76 | 103 | 105 | 94 | 378 | ||||||||||||
Corporate | -70 | -65 | -64 | -97 | -296 | ||||||||||||
Total Segment OIBDA | 807 | 911 | 904 | 866 | 3,488 | ||||||||||||
Restructuring charges | — | — | — | -19 | -19 | ||||||||||||
Impairment charges | -11 | — | — | — | -11 | ||||||||||||
Depreciation and amortization | -119 | -119 | -116 | -121 | -475 | ||||||||||||
Total Operating Income | $ | 677 | $ | 792 | $ | 788 | $ | 726 | $ | 2,983 | |||||||
Operating Income (Loss): | |||||||||||||||||
Entertainment | $ | 370 | $ | 385 | $ | 346 | $ | 280 | $ | 1,381 | |||||||
Cable Networks | 204 | 184 | 221 | 176 | 785 | ||||||||||||
Publishing | 8 | 7 | 38 | 27 | 80 | ||||||||||||
Local Broadcasting | 138 | 225 | 190 | 295 | 848 | ||||||||||||
Outdoor Americas | 33 | 62 | 62 | 52 | 209 | ||||||||||||
Corporate | -76 | -71 | -69 | -104 | -320 | ||||||||||||
Total Operating Income | $ | 677 | $ | 792 | $ | 788 | $ | 726 | $ | 2,983 | |||||||
Net earnings from continuing operations | $ | 394 | $ | 452 | $ | 385 | $ | 403 | $ | 1,634 | |||||||
Net earnings | $ | 363 | $ | 427 | $ | 391 | $ | 393 | $ | 1,574 | |||||||
Basic net earnings per common share: | |||||||||||||||||
Net earnings from continuing operations | $ | 0.61 | $ | 0.7 | $ | 0.6 | $ | 0.64 | $ | 2.55 | |||||||
Net earnings | $ | 0.56 | $ | 0.66 | $ | 0.61 | $ | 0.62 | $ | 2.45 | |||||||
Diluted net earnings per common share: | |||||||||||||||||
Net earnings from continuing operations | $ | 0.59 | $ | 0.68 | $ | 0.59 | $ | 0.62 | $ | 2.48 | |||||||
Net earnings | $ | 0.54 | $ | 0.65 | $ | 0.6 | $ | 0.6 | $ | 2.39 | |||||||
Weighted average number of common shares | |||||||||||||||||
outstanding: | |||||||||||||||||
Basic | 650 | 646 | 640 | 634 | 642 | ||||||||||||
Diluted | 667 | 661 | 656 | 650 | 659 | ||||||||||||
Dividends per common share | $ | 0.1 | $ | 0.1 | $ | 0.12 | $ | 0.12 | $ | 0.44 | |||||||
During 2013, the Company completed the sale of Outdoor Europe which has been presented as a discontinued operation in the consolidated financial statements for all periods presented. | |||||||||||||||||
Condensed_Consolidating_Financ
Condensed Consolidating Financial Statements | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Condensed Consolidating Financial Statements Disclosure [Abstract] | ' | ||||||||||||
Condensed Consolidating Financial Statements | ' | ||||||||||||
19) 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 (See Note 8). 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 Year Ended December 31, 2013 | |||||||||||||
CBS Corp. | CBS Operations Inc. | Non-Guarantor Affiliates | Eliminations | CBS Corp. Consolidated | |||||||||
Revenues | $ | 145 | $ | 11 | $ | 15,128 | $ | — | $ | 15,284 | |||
Expenses: | |||||||||||||
Operating | 69 | 8 | 8,736 | — | 8,813 | ||||||||
Selling, general and administrative | 65 | 332 | 2,338 | — | 2,735 | ||||||||
Restructuring charges | — | 1 | 19 | — | 20 | ||||||||
Depreciation and amortization | 6 | 14 | 437 | — | 457 | ||||||||
Total expenses | 140 | 355 | 11,530 | — | 12,025 | ||||||||
Operating income (loss) | 5 | -344 | 3,598 | — | 3,259 | ||||||||
Interest (expense) income, net | -457 | -369 | 458 | — | -368 | ||||||||
Other items, net | — | 4 | 2 | — | 6 | ||||||||
Earnings (loss) from continuing operations | |||||||||||||
before income taxes and equity in earnings | |||||||||||||
(loss) of investee companies | -452 | -709 | 4,058 | — | 2,897 | ||||||||
(Provision) benefit for income taxes | 154 | 242 | -1,374 | — | -978 | ||||||||
Equity in earnings (loss) of investee companies, | |||||||||||||
net of tax | 2,168 | 1,288 | -46 | -3,456 | -46 | ||||||||
Net earnings from continuing operations | 1,870 | 821 | 2,638 | -3,456 | 1,873 | ||||||||
Net earnings (loss) from discontinued operations, | |||||||||||||
net of tax | 9 | — | -3 | — | 6 | ||||||||
Net earnings | $ | 1,879 | $ | 821 | $ | 2,635 | $ | -3,456 | $ | 1,879 | |||
Total comprehensive income | $ | 1,903 | $ | 818 | $ | 2,458 | $ | -3,276 | $ | 1,903 | |||
Statement of Operations | |||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||
CBS Corp. | CBS Operations Inc. | Non-Guarantor Affiliates | Eliminations | CBS Corp. Consolidated | |||||||||
Revenues | $ | 157 | $ | 15 | $ | 13,917 | $ | — | $ | 14,089 | |||
Expenses: | |||||||||||||
Operating | 74 | 8 | 7,885 | — | 7,967 | ||||||||
Selling, general and administrative | 87 | 255 | 2,292 | — | 2,634 | ||||||||
Restructuring charges | — | 2 | 17 | — | 19 | ||||||||
Impairment charges | — | — | 11 | — | 11 | ||||||||
Depreciation and amortization | 6 | 14 | 455 | — | 475 | ||||||||
Total expenses | 167 | 279 | 10,660 | — | 11,106 | ||||||||
Operating income (loss) | -10 | -264 | 3,257 | — | 2,983 | ||||||||
Interest (expense) income, net | -480 | -351 | 435 | — | -396 | ||||||||
Net loss on early extinguishment of debt | -32 | — | — | — | -32 | ||||||||
Other items, net | 1 | -5 | 10 | — | 6 | ||||||||
Earnings (loss) from continuing operations | |||||||||||||
before income taxes and equity in earnings | |||||||||||||
(loss) of investee companies | -521 | -620 | 3,702 | — | 2,561 | ||||||||
(Provision) benefit for income taxes | 185 | 218 | -1,295 | — | -892 | ||||||||
Equity in earnings (loss) of investee companies, | |||||||||||||
net of tax | 1,884 | 1,145 | -35 | -3,029 | -35 | ||||||||
Net earnings from continuing operations | 1,548 | 743 | 2,372 | -3,029 | 1,634 | ||||||||
Net earnings (loss) from discontinued operations, | |||||||||||||
net of tax | 26 | -1 | -85 | — | -60 | ||||||||
Net earnings | $ | 1,574 | $ | 742 | $ | 2,287 | $ | -3,029 | $ | 1,574 | |||
Total comprehensive income | $ | 1,444 | $ | 735 | $ | 2,295 | $ | -3,030 | $ | 1,444 | |||
Statement of Operations | |||||||||||||
For the Year Ended December 31, 2011 | |||||||||||||
CBS Corp. | CBS Operations Inc. | Non-Guarantor Affiliates | Eliminations | CBS Corp. Consolidated | |||||||||
Revenues | $ | 131 | $ | 19 | $ | 13,487 | $ | — | $ | 13,637 | |||
Expenses: | |||||||||||||
Operating | 72 | 8 | 7,802 | — | 7,882 | ||||||||
Selling, general and administrative | 109 | 247 | 2,242 | — | 2,598 | ||||||||
Restructuring charges | — | — | 43 | — | 43 | ||||||||
Depreciation and amortization | 5 | 15 | 475 | — | 495 | ||||||||
Total expenses | 186 | 270 | 10,562 | — | 11,018 | ||||||||
Operating income (loss) | -55 | -251 | 2,925 | — | 2,619 | ||||||||
Interest (expense) income, net | -514 | -341 | 426 | — | -429 | ||||||||
Other items, net | — | 6 | -17 | — | -11 | ||||||||
Earnings (loss) from continuing operations | |||||||||||||
before income taxes and equity in earnings | |||||||||||||
(loss) of investee companies | -569 | -586 | 3,334 | — | 2,179 | ||||||||
(Provision) benefit for income taxes | 201 | 207 | -1,159 | — | -751 | ||||||||
Equity in earnings (loss) of investee companies, | |||||||||||||
net of tax | 1,666 | 1,256 | -37 | -2,922 | -37 | ||||||||
Net earnings from continuing operations | 1,298 | 877 | 2,138 | -2,922 | 1,391 | ||||||||
Net earnings (loss) from discontinued operations, | |||||||||||||
net of tax | 7 | 7 | -100 | — | -86 | ||||||||
Net earnings | $ | 1,305 | $ | 884 | $ | 2,038 | $ | -2,922 | $ | 1,305 | |||
Total comprehensive income | $ | 1,152 | $ | 884 | $ | 2,021 | $ | -2,905 | $ | 1,152 | |||
Balance Sheet | |||||||||||||
At December 31, 2013 | |||||||||||||
CBS Corp. | CBS Operations Inc. | Non-Guarantor Affiliates | Eliminations | CBS Corp. Consolidated | |||||||||
Assets | |||||||||||||
Cash and cash equivalents | $ | 80 | $ | 1 | $ | 316 | $ | — | $ | 397 | |||
Receivables, net | 30 | 2 | 3,383 | — | 3,415 | ||||||||
Programming and other inventory | 4 | 2 | 766 | — | 772 | ||||||||
Prepaid expenses and other current assets | 179 | 18 | 615 | -26 | 786 | ||||||||
Total current assets | 293 | 23 | 5,080 | -26 | 5,370 | ||||||||
Property and equipment | 37 | 137 | 4,849 | — | 5,023 | ||||||||
Less accumulated depreciation and amortization | 9 | 83 | 2,695 | — | 2,787 | ||||||||
Net property and equipment | 28 | 54 | 2,154 | — | 2,236 | ||||||||
Programming and other inventory | 5 | — | 1,692 | — | 1,697 | ||||||||
Goodwill | 98 | 62 | 8,402 | — | 8,562 | ||||||||
Intangible assets | — | — | 6,430 | — | 6,430 | ||||||||
Investments in consolidated subsidiaries | 40,450 | 10,415 | — | -50,865 | — | ||||||||
Other assets | 89 | 18 | 1,985 | — | 2,092 | ||||||||
Intercompany | — | 3,230 | 18,423 | -21,653 | — | ||||||||
Total Assets | $ | 40,963 | $ | 13,802 | $ | 44,166 | $ | -72,544 | $ | 26,387 | |||
Liabilities and Stockholders’ Equity | |||||||||||||
Accounts payable | $ | 1 | $ | 8 | $ | 362 | $ | — | $ | 371 | |||
Participants’ share and royalties payable | — | — | 1,008 | — | 1,008 | ||||||||
Program rights | 5 | 2 | 391 | — | 398 | ||||||||
Commercial paper | 475 | — | — | — | 475 | ||||||||
Current portion of long-term debt | 5 | — | 16 | — | 21 | ||||||||
Accrued expenses and other current liabilities | 361 | 293 | 1,306 | -26 | 1,934 | ||||||||
Total current liabilities | 847 | 303 | 3,083 | -26 | 4,207 | ||||||||
Long-term debt | 5,791 | — | 149 | — | 5,940 | ||||||||
Other liabilities | 2,706 | 303 | 3,265 | — | 6,274 | ||||||||
Intercompany | 21,653 | — | — | -21,653 | — | ||||||||
Stockholders’ Equity: | |||||||||||||
Preferred stock | — | — | 126 | -126 | — | ||||||||
Common stock | 1 | 123 | 953 | -1,076 | 1 | ||||||||
Additional paid-in capital | 43,474 | — | 61,678 | -61,678 | 43,474 | ||||||||
Retained earnings (deficit) | -24,890 | 13,414 | -20,414 | 7,000 | -24,890 | ||||||||
Accumulated other comprehensive income (loss) | -545 | -10 | 126 | -116 | -545 | ||||||||
18,040 | 13,527 | 42,469 | -55,996 | 18,040 | |||||||||
Less treasury stock, at cost | 8,074 | 331 | 4,800 | -5,131 | 8,074 | ||||||||
Total Stockholders’ Equity | 9,966 | 13,196 | 37,669 | -50,865 | 9,966 | ||||||||
Total Liabilities and Stockholders’ Equity | $ | 40,963 | $ | 13,802 | $ | 44,166 | $ | -72,544 | $ | 26,387 | |||
Balance Sheet | |||||||||||||
At December 31, 2012 | |||||||||||||
CBS Corp. | CBS Operations Inc. | Non-Guarantor Affiliates | Eliminations | CBS Corp. Consolidated | |||||||||
Assets | |||||||||||||
Cash and cash equivalents | $ | 254 | $ | 1 | $ | 453 | $ | — | $ | 708 | |||
Receivables, net | 31 | 2 | 3,104 | — | 3,137 | ||||||||
Programming and other inventory | 5 | 3 | 851 | — | 859 | ||||||||
Prepaid expenses and other current assets | 142 | 14 | 886 | -26 | 1,016 | ||||||||
Total current assets | 432 | 20 | 5,294 | -26 | 5,720 | ||||||||
Property and equipment | 39 | 117 | 4,832 | — | 4,988 | ||||||||
Less accumulated depreciation and amortization | 8 | 69 | 2,640 | — | 2,717 | ||||||||
Net property and equipment | 31 | 48 | 2,192 | — | 2,271 | ||||||||
Programming and other inventory | 3 | 2 | 1,577 | — | 1,582 | ||||||||
Goodwill | 98 | 62 | 8,407 | — | 8,567 | ||||||||
Intangible assets | — | — | 6,515 | — | 6,515 | ||||||||
Investments in consolidated subsidiaries | 38,658 | 9,128 | — | -47,786 | — | ||||||||
Other assets | 171 | 14 | 1,626 | — | 1,811 | ||||||||
Intercompany | — | 3,655 | 16,122 | -19,777 | — | ||||||||
Total Assets | $ | 39,393 | $ | 12,929 | $ | 41,733 | $ | -67,589 | $ | 26,466 | |||
Liabilities and Stockholders’ Equity | |||||||||||||
Accounts payable | $ | 2 | $ | 6 | $ | 378 | $ | — | $ | 386 | |||
Participants’ share and royalties payable | — | — | 953 | — | 953 | ||||||||
Program rights | 6 | 4 | 445 | — | 455 | ||||||||
Current portion of long-term debt | 5 | — | 13 | — | 18 | ||||||||
Accrued expenses and other current liabilities | 345 | 286 | 1,524 | -26 | 2,129 | ||||||||
Total current liabilities | 358 | 296 | 3,313 | -26 | 3,941 | ||||||||
Long-term debt | 5,793 | — | 111 | — | 5,904 | ||||||||
Other liabilities | 3,252 | 255 | 2,901 | — | 6,408 | ||||||||
Intercompany | 19,777 | — | — | -19,777 | — | ||||||||
Stockholders’ Equity: | |||||||||||||
Preferred stock | — | — | 128 | -128 | — | ||||||||
Common stock | 1 | 123 | 1,136 | -1,259 | 1 | ||||||||
Additional paid-in capital | 43,424 | — | 61,690 | -61,690 | 43,424 | ||||||||
Retained earnings (deficit) | -26,769 | 12,593 | -23,049 | 10,456 | -26,769 | ||||||||
Accumulated other comprehensive income (loss) | -569 | -7 | 303 | -296 | -569 | ||||||||
16,087 | 12,709 | 40,208 | -52,917 | 16,087 | |||||||||
Less treasury stock, at cost | 5,874 | 331 | 4,800 | -5,131 | 5,874 | ||||||||
Total Stockholders’ Equity | 10,213 | 12,378 | 35,408 | -47,786 | 10,213 | ||||||||
Total Liabilities and Stockholders’ Equity | $ | 39,393 | $ | 12,929 | $ | 41,733 | $ | -67,589 | $ | 26,466 | |||
Statement of Cash Flows | |||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||
CBS Corp. | CBS Operations Inc. | Non-Guarantor Affiliates | Eliminations | CBS Corp. Consolidated | |||||||||
Net cash flow (used for) provided by operating | |||||||||||||
activities | $ | -934 | $ | -187 | $ | 2,994 | $ | — | $ | 1,873 | |||
Investing Activities: | |||||||||||||
Acquisitions, net of cash acquired | — | — | -32 | — | -32 | ||||||||
Capital expenditures | — | -27 | -243 | — | -270 | ||||||||
Investments in and advances to investee companies | — | — | -176 | — | -176 | ||||||||
Proceeds from sale of investments | 23 | 1 | 6 | — | 30 | ||||||||
Proceeds from dispositions | — | — | 193 | — | 193 | ||||||||
Net cash flow provided by (used for) investing activities | |||||||||||||
from continuing operations | 23 | -26 | -252 | — | -255 | ||||||||
Net cash flow used for investing activities | |||||||||||||
from discontinued operations | — | — | -17 | — | -17 | ||||||||
Net cash flow provided by (used for) investing activities | 23 | -26 | -269 | — | -272 | ||||||||
Financing Activities: | |||||||||||||
Proceeds from short-term debt borrowings, net | 475 | — | — | — | 475 | ||||||||
Payment of capital lease obligations | — | — | -17 | — | -17 | ||||||||
Payment of contingent consideration | — | — | -30 | — | -30 | ||||||||
Dividends | -300 | — | — | — | -300 | ||||||||
Purchase of Company common stock | -2,185 | — | — | — | -2,185 | ||||||||
Payment of payroll taxes in lieu of issuing | |||||||||||||
shares for stock-based compensation | -145 | — | — | — | -145 | ||||||||
Proceeds from exercise of stock options | 146 | — | — | — | 146 | ||||||||
Excess tax benefit from stock-based compensation | 148 | — | — | — | 148 | ||||||||
Other financing activities | -4 | — | — | — | -4 | ||||||||
Increase (decrease) in intercompany payables | 2,602 | 213 | -2,815 | — | — | ||||||||
Net cash flow provided by (used for) financing | |||||||||||||
activities | 737 | 213 | -2,862 | — | -1,912 | ||||||||
Net decrease in cash and cash equivalents | -174 | — | -137 | — | -311 | ||||||||
Cash and cash equivalents at beginning of year | 254 | 1 | 453 | — | 708 | ||||||||
Cash and cash equivalents at end of year | $ | 80 | $ | 1 | $ | 316 | $ | — | $ | 397 | |||
Statement of Cash Flows | |||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||
CBS Corp. | CBS Operations Inc. | Non-Guarantor Affiliates | Eliminations | CBS Corp. Consolidated | |||||||||
Net cash flow (used for) provided by operating | |||||||||||||
activities | $ | -827 | $ | -179 | $ | 2,821 | $ | — | $ | 1,815 | |||
Investing Activities: | |||||||||||||
Acquisitions, net of cash acquired | — | — | -146 | — | -146 | ||||||||
Capital expenditures | — | -21 | -233 | — | -254 | ||||||||
Investments in and advances to investee companies | — | — | -91 | — | -91 | ||||||||
Proceeds from sale of investments | 9 | 2 | 2 | — | 13 | ||||||||
Proceeds from dispositions | — | — | 49 | — | 49 | ||||||||
Net cash flow provided by (used for) investing activities | |||||||||||||
from continuing operations | 9 | -19 | -419 | — | -429 | ||||||||
Net cash flow used for investing activities | |||||||||||||
from discontinued operations | — | — | -22 | — | -22 | ||||||||
Net cash flow provided by (used for) investing activities | 9 | -19 | -441 | — | -451 | ||||||||
Financing Activities: | |||||||||||||
Proceeds from issuance of notes | 1,566 | — | — | — | 1,566 | ||||||||
Repayment of notes and debentures | -1,583 | — | — | — | -1,583 | ||||||||
Payment of capital lease obligations | — | — | -19 | — | -19 | ||||||||
Payment of contingent consideration | — | — | -33 | — | -33 | ||||||||
Dividends | -276 | — | — | — | -276 | ||||||||
Purchase of Company common stock | -1,137 | — | — | — | -1,137 | ||||||||
Payment of payroll taxes in lieu of issuing | |||||||||||||
shares for stock-based compensation | -105 | — | — | — | -105 | ||||||||
Proceeds from exercise of stock options | 168 | — | — | — | 168 | ||||||||
Excess tax benefit from stock-based compensation | 103 | — | — | — | 103 | ||||||||
Increase (decrease) in intercompany payables | 2,202 | 198 | -2,400 | — | — | ||||||||
Net cash flow provided by (used for) financing | |||||||||||||
activities | 938 | 198 | -2,452 | — | -1,316 | ||||||||
Net increase (decrease) in cash and cash equivalents | 120 | — | -72 | — | 48 | ||||||||
Cash and cash equivalents at beginning of year | 134 | 1 | 525 | — | 660 | ||||||||
Cash and cash equivalents at end of year | $ | 254 | $ | 1 | $ | 453 | $ | — | $ | 708 | |||
Statement of Cash Flows | |||||||||||||
For the Year Ended December 31, 2011 | |||||||||||||
CBS Corp. | CBS Operations Inc. | Non-Guarantor Affiliates | Eliminations | CBS Corp. Consolidated | |||||||||
Net cash flow (used for) provided by operating | |||||||||||||
activities | $ | -700 | $ | -181 | $ | 2,630 | $ | — | $ | 1,749 | |||
Investing Activities: | |||||||||||||
Acquisitions, net of cash acquired | — | — | -75 | — | -75 | ||||||||
Capital expenditures | — | -14 | -231 | — | -245 | ||||||||
Investments in and advances to investee companies | — | — | -79 | — | -79 | ||||||||
Proceeds from sale of investments | 8 | 4 | — | — | 12 | ||||||||
Proceeds from dispositions | — | — | 18 | — | 18 | ||||||||
Net cash flow provided by (used for) investing activities | |||||||||||||
from continuing operations | 8 | -10 | -367 | — | -369 | ||||||||
Net cash flow used for investing activities | |||||||||||||
from discontinued operations | — | — | -20 | — | -20 | ||||||||
Net cash flow provided by (used for) investing activities | 8 | -10 | -387 | — | -389 | ||||||||
Financing Activities: | |||||||||||||
Payment of capital lease obligations | — | — | -19 | — | -19 | ||||||||
Dividends | -206 | — | — | — | -206 | ||||||||
Purchase of Company common stock | -1,012 | — | — | — | -1,012 | ||||||||
Payment of payroll taxes in lieu of issuing | |||||||||||||
shares for stock-based compensation | -82 | — | — | — | -82 | ||||||||
Proceeds from exercise of stock options | 72 | — | — | — | 72 | ||||||||
Excess tax benefit from stock-based compensation | 72 | — | — | — | 72 | ||||||||
Other financing activities | -5 | — | — | — | -5 | ||||||||
Increase (decrease) in intercompany payables | 1,882 | 191 | -2,073 | — | — | ||||||||
Net cash flow provided by (used for) financing | |||||||||||||
activities | 721 | 191 | -2,092 | — | -1,180 | ||||||||
Net increase in cash and cash equivalents | 29 | — | 151 | — | 180 | ||||||||
Cash and cash equivalents at beginning of year | 105 | 1 | 374 | — | 480 | ||||||||
Cash and cash equivalents at end of year | $ | 134 | $ | 1 | $ | 525 | $ | — | $ | 660 | |||
Schedule_II_Valuation_and_Qual
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Schedule Of Valuation And Qualifying Accounts [Abstract] | ' | |||||||||||||||||||
Schedule II - Valuation and Qualifying Accounts | ' | |||||||||||||||||||
Col. A | Col. B | ` | Col. D | Col. E | ||||||||||||||||
Balance at | Balance | Charged to | Charged | Balance at | ||||||||||||||||
Beginning | Acquired through | Costs and | to Other | End of | ||||||||||||||||
Description | of Period | Acquisitions | Expenses | Accounts (a) | Deductions | Period | ||||||||||||||
Allowance for doubtful | ||||||||||||||||||||
accounts: | ||||||||||||||||||||
Year ended December 31, 2013 | $ | 81 | $ | — | $ | 15 | $ | — | $ | 20 | $ | 76 | ||||||||
Year ended December 31, 2012 | $ | 100 | $ | — | $ | 17 | $ | — | $ | 36 | $ | 81 | ||||||||
Year ended December 31, 2011 | $ | 117 | $ | — | $ | 24 | $ | 9 | $ | 50 | $ | 100 | ||||||||
Valuation allowance on | ||||||||||||||||||||
deferred tax assets: | ||||||||||||||||||||
Year ended December 31, 2013 | $ | 249 | $ | — | $ | 453 | (b) | $ | — | $ | 58 | $ | 644 | |||||||
Year ended December 31, 2012 | $ | 235 | $ | — | $ | 38 | $ | — | $ | 24 | $ | 249 | ||||||||
Year ended December 31, 2011 | $ | 247 | $ | — | $ | 17 | $ | — | $ | 29 | $ | 235 | ||||||||
Reserves for inventory | ||||||||||||||||||||
obsolescence: | ||||||||||||||||||||
Year ended December 31, 2013 | $ | 32 | $ | — | $ | 15 | $ | — | $ | 12 | $ | 35 | ||||||||
Year ended December 31, 2012 | $ | 27 | $ | — | $ | 13 | $ | — | $ | 8 | $ | 32 | ||||||||
Year ended December 31, 2011 | $ | 22 | $ | — | $ | 14 | $ | — | $ | 9 | $ | 27 | ||||||||
Primarily reflects reclasses from other balance sheet accounts. | ||||||||||||||||||||
Primarily relates to the valuation allowances for a capital loss deferred tax asset in a foreign jurisdiction that arose from the restructuring of foreign operations and net operating loss deferred tax assets in foreign jurisdictions. | ||||||||||||||||||||
Basis_of_Presentation_and_Summ1
Basis of Presentation and Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Significant Accounting Policies [Abstract] | ' | ||||
Consolidation [Policy Text Block] | ' | ||||
Principles of Consolidation—The consolidated financial statements include the accounts of CBS Corp. and all of its subsidiaries in which a controlling interest is maintained. Controlling interest is determined by majority ownership interest and the absence of substantive third party participating rights. Investments over which the Company has a significant influence or ownership of more than 20% but less than or equal to 50%, without a controlling interest, are accounted for under the equity method. Investments of 20% or less, over which the Company has no significant influence, are accounted for under the cost method if the fair value is not readily determinable and are accounted for as available for sale securities if the fair value is readily determinable. All significant intercompany transactions have been eliminated. | |||||
Use Of Estimates [Policy Text Block] | ' | ||||
Use of Estimates—The preparation of the Company's financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. | |||||
Cash and Cash Equivalents [Policy Text Block] | ' | ||||
Cash and Cash Equivalents—Cash and cash equivalents consist of cash on hand and short-term (maturities of three months or less at the date of purchase) highly liquid investments, including money market funds, commercial paper and bank time deposits. | |||||
Inventory [Policy Text Block] | ' | ||||
Programming Inventory—The Company acquires rights to programming and produces programming to exhibit on its broadcast and cable networks, broadcast television and radio stations, and in theaters. The costs incurred in acquiring and producing programs and theatrical films are capitalized and amortized over the license period or projected useful life of the programming. Program rights and the related liabilities are recorded at the gross amount of the liabilities when the license period has begun, the cost of the program is determinable, and the program is accepted and available for airing. | |||||
Television and theatrical film production costs (which include direct production costs, production overhead and acquisition costs) are stated at the lower of amortized cost or net realizable value. The Company then estimates total revenues to be earned and costs to be incurred throughout the life of each television program or theatrical film. For television programming, estimates for remaining total lifetime revenues are limited to the amount of revenue contracted for each episode in the initial market. Accordingly, television programming costs and participation costs incurred in excess of the amount of revenue contracted for each episode in the initial market are expensed as incurred on an episode by episode basis. Estimates for all secondary market revenues such as domestic and foreign syndication, basic cable, digital streaming, home entertainment and merchandising are included in the estimated lifetime revenues of such television programming once it can be demonstrated that a program can be successfully licensed in such secondary market. Television programming costs incurred subsequent to the establishment of the secondary market are initially capitalized and amortized, and estimated liabilities for participations are accrued, based on the proportion that current period revenues bear to the estimated remaining total lifetime revenues. | |||||
The costs incurred in acquiring television series and feature film programming are capitalized when the program is accepted and available for airing. These costs are amortized over the period in which an economic benefit is expected to be derived based on the timing of the Company's usage of and benefit from such programming. The costs of programming rights licensed under multi-year sports programming agreements are capitalized if the rights payments are made before the related economic benefit has been received. These costs are expensed over the period in which an economic benefit is expected to be derived based on the relative value of the events broadcast by the Company during a period. The relative value for an event is determined based on the revenues generated for that event in relation to the estimated total revenues over the remaining term of the sports programming agreement. For the Company's multi-year sports programming agreements where the rights payments for a season approximate the relative value of the events broadcast by the Company during that season, those rights payments are expensed during such season. | |||||
Lifetime revenue estimates for internally produced television programming and theatrical films, and the estimated economic benefit for the acquired programming, including revenue projections for multi-year sports programming, are periodically reviewed and adjustments, if any, will result in changes to amortization rates, future net realizable value adjustments and/or estimated accruals for participation expense. | |||||
Property and Equipment [Policy Text Block] | ' | ||||
Property and Equipment—Property and equipment is stated at cost. Depreciation is computed by the straight-line method over estimated useful lives as follows: | |||||
Buildings | 20 to 40 years | ||||
Leasehold Improvements | Shorter of lease term or useful life | ||||
Advertising Structures | 5 to 20 years | ||||
Equipment and other (including capital leases) | 3 to 20 years | ||||
Impairment of Long-Lived Assets [Policy Text Block] | ' | ||||
Impairment of Long-Lived Assets—The Company assesses long-lived assets and intangible assets, other than goodwill and intangible assets with indefinite lives, for impairment whenever there is an indication that the carrying amount of the asset may not be recoverable. Recoverability of these assets is determined by comparing the forecasted undiscounted cash flows generated by these assets to their net carrying value. The amount of impairment loss, if any, will generally be measured by the difference between the net book value and the estimated fair value of the asset. | |||||
Impairment Of Investments Policy [Text Block] | ' | ||||
Impairment of Investments—Investments are reviewed for impairment on a quarterly basis by comparing their fair value to their respective carrying amounts. The Company determines the fair value of its public company investments by reference to their publicly traded stock price. With respect to private company investments, the Company makes its estimate of fair value by considering recent investee equity transactions, discounted cash flow analyses, recent operating results, estimates based on comparable public company operating cash flow multiples and, in certain situations, balance sheet liquidation values. If the fair value of the investment has dropped below the carrying amount, management considers several factors when determining whether an other-than-temporary decline has occurred. These factors include the length of the time and the extent to which the estimated fair value or market value has been below the carrying value, the financial condition and the near-term prospects of the investee, the intent and ability of the Company to retain its investment in the investee for a period of time sufficient to allow for any anticipated recovery in market value, and other factors influencing the fair market value, such as general market conditions. | |||||
Goodwill and Intangible Assets [Policy Text Block] | ' | ||||
Goodwill and Intangible Assets—Goodwill is allocated to various reporting units, which are generally one level below the Company's operating segments. Intangible assets with finite lives, which primarily consist of permits and leasehold agreements, franchise agreements and trade names, are generally amortized by the straight-line method over their estimated useful lives, which range from 4 to 40 years. Goodwill and other intangible assets with indefinite lives, which consist of FCC licenses, are not amortized but are tested for impairment on an annual basis and between annual tests if events occur or circumstances change that would more likely than not reduce the fair value below its carrying amount. If the carrying value of goodwill or the intangible asset exceeds its fair value, an impairment loss is recognized as a noncash charge. | |||||
Discontinued Operations [Policy Text Block] | ' | ||||
Discontinued Operations—The consolidated financial statements present Outdoor Europe as a discontinued operation (See Note 3). In addition, certain businesses that were previously disposed of by the Company prior to January 1, 2002, were accounted for as discontinued operations in accordance with accounting rules in effect prior to 2002. | |||||
Revenue Recognition [Policy Text Block] | ' | ||||
Revenue Recognition—Advertising revenues, net of agency commissions, are recognized in the period during which advertising spots are aired or displayed. If there is a guarantee to deliver a targeted audience rating, revenues are recognized for the actual audience rating delivered, based on the ratings data published by independent audience ratings measurement companies. Revenues are deferred for any shortfall in the audience rating with respect to an advertising spot until such time as the required audience rating is delivered. Revenues from providing advertising space on outdoor structures are recognized ratably over the contract terms. | |||||
Revenues from the licensing of television programming are recognized in the period that the television series is made available to the licensee, which may cause fluctuations in operating results. Television series initially produced for networks and first-run syndication are generally licensed to domestic and international markets concurrently. The more successful network series are later licensed to television stations, cable networks, certain additional international markets and for digital streaming. The length of the revenue cycle for television series will vary depending on the number of seasons a series remains in active production. | |||||
Affiliate and subscription fees for cable and broadcast networks, television stations and online content are recognized in the period the service is provided. Costs for advertising and marketing services provided to the Company by cable, satellite and other distributors are recorded in selling, general and administrative expenses. | |||||
Publishing revenues are recognized when merchandise is shipped or electronically delivered to the consumer. The Company records a provision for sales returns and allowances at the time of sale based upon historical trends which allow for a percentage of revenue recognized. | |||||
Deferred revenues primarily consist of revenues related to advertising arrangements and the licensing of television programming for which the revenues have not yet been earned. The amounts classified as current are expected to be earned within the next twelve months. | |||||
Sales of Multiple Products or Services—Revenues derived from a single sales contract that contains multiple products and services are allocated based on the relative fair value of each delivered item and recognized in accordance with the applicable revenue recognition criteria for the specific unit of accounting. | |||||
Collaborative Arrangements [Policy Text Block] | ' | ||||
Collaborative Arrangements—Collaborative arrangements primarily consist of joint efforts with third parties to produce and distribute programming such as television series and live sporting events, including the 14-year agreement between the Company and Turner Broadcasting System, Inc. to telecast the NCAA Division I Men's Basketball Championship (“NCAA Tournament”), which began in 2011. In connection with this agreement for the NCAA Tournament, advertisements aired on CBS Television Network are recorded as revenues and the Company's share of the program rights fees and other operating costs are recorded as operating expenses. | |||||
For episodic television programming, co-production costs are initially capitalized as programming inventory and amortized over the television series' estimated economic life. In such arrangements where the Company has distribution rights, all proceeds generated from such distribution are recorded as revenues and any participation profits due to third party collaborators are recorded as operating expenses. In co-production arrangements where third party collaborators have distribution rights, the Company's net participating profits are recorded as revenues. | |||||
Advertising Costs, Policy | ' | ||||
Advertising—Advertising costs are expensed as incurred. | |||||
Interest Expense [Policy Text Block] | ' | ||||
Interest—Costs associated with the refinancing or issuance of debt, as well as debt discounts or premiums, are recorded as interest over the term of its related debt. The Company may enter into interest rate exchange agreements; the amount to be paid or received under such agreements is accrued and recognized over the life of the agreements as an adjustment to interest expense. | |||||
Income Tax [Policy Text Block] | ' | ||||
Income Taxes—The provision for income taxes includes federal, state, local, and foreign taxes. Deferred tax assets and liabilities are recognized for the estimated future tax effects of temporary differences between the financial statement carrying amounts and their respective tax basis. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the year in which the temporary differences are expected to be reversed. The Company evaluates the realizability of deferred tax assets and establishes a valuation allowance when it is more likely than not that all or a portion of deferred tax assets will not be realized. For tax positions taken in a previously filed tax return or expected to be taken in a future tax return, the Company evaluates each position to determine whether it is more likely than not that the tax position will be sustained upon examination, based on the technical merits of the position. A tax position that meets the more-likely-than-not recognition threshold is subject to a measurement assessment to determine the amount of benefit to recognize in the Consolidated Statement of Operations and the appropriate reserve to establish, if any. If a tax position does not meet the more-likely-than-not recognition threshold a tax reserve is established and no benefit is recognized. A number of years may elapse before a tax return containing tax matters for which a reserve has been established is audited and finally resolved. | |||||
Foreign Currency Translation and Transactions [Policy Text Block] | ' | ||||
Foreign Currency Translation and Transactions—The Company's assets and liabilities denominated in foreign currencies are translated at foreign exchange rates in effect at the balance sheet date, while results of operations are translated at average foreign exchange rates for the respective periods. The resulting translation gains or losses are included as a separate component of stockholders' equity in accumulated other comprehensive income (loss). Foreign currency transaction gains and losses have been included in “Other items, net” in the Consolidated Statements of Operations. | |||||
Provision for Doubtful Accounts [Policy Text Block] | ' | ||||
Provision for Doubtful Accounts—The provision for doubtful accounts is estimated based on historical bad debt experience, the aging of accounts receivable, industry trends and economic indicators, as well as recent payment history for specific customers. | |||||
Earnings Per Share [Policy Text Block] | ' | ||||
Net Earnings (Loss) per Common Share—Basic 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. | |||||
Stock-based compensation [Policy Text Block] | ' | ||||
Stock-based Compensation—The Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. The cost is recognized over the vesting period during which an employee is required to provide service in exchange for the award. | |||||
Basis_of_Presentation_and_Summ2
Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Basis Of Presentation And Summary Of Significant Accounting Policies Tables [Abstract] | ' | |||||||||||||||||||
Property and equipment useful life [Table Text Block] | ' | |||||||||||||||||||
Buildings | 20 to 40 years | |||||||||||||||||||
Leasehold Improvements | Shorter of lease term or useful life | |||||||||||||||||||
Advertising Structures | 5 to 20 years | |||||||||||||||||||
Equipment and other (including capital leases) | 3 to 20 years | |||||||||||||||||||
Reconciliation from basic to diluted shares [Table Text Block] | ' | |||||||||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | |||||||||||||||||
(in millions) | ||||||||||||||||||||
Weighted average shares for basic EPS | 608 | 642 | 664 | |||||||||||||||||
Dilutive effect of shares issuable under | ||||||||||||||||||||
stock-based compensation plans | 16 | 17 | 17 | |||||||||||||||||
Weighted average shares for diluted EPS | 624 | 659 | 681 | |||||||||||||||||
Accumulated Other Comprehensive Income [Table Text Block] | ' | |||||||||||||||||||
Continuing Operations | Discontinued Operations | |||||||||||||||||||
Net Actuarial | Accumulated | |||||||||||||||||||
Cumulative | Gain (Loss) | Unrealized | Other | Other | ||||||||||||||||
Translation | and Prior | Gain on | Comprehensive | Comprehensive | ||||||||||||||||
Adjustments | Service Cost | Securities | Income (Loss) (b) | Income (Loss) | ||||||||||||||||
At December 31, 2010 | $ | 158 | $ | -665 | $ | 2 | $ | 219 | $ | -286 | ||||||||||
Other comprehensive income (loss) | 4 | -145 | — | -12 | -153 | |||||||||||||||
At December 31, 2011 | 162 | -810 | 2 | 207 | -439 | |||||||||||||||
Other comprehensive income (loss) | 30 | -138 | — | -22 | -130 | |||||||||||||||
At December 31, 2012 | 192 | -948 | 2 | 185 | -569 | |||||||||||||||
Other comprehensive income (loss) | ||||||||||||||||||||
before reclassifications | -5 | 169 | 1 | -7 | 158 | |||||||||||||||
Reclassifications to net earnings | — | 44 | (a) | — | -178 | (c) | -134 | |||||||||||||
Other comprehensive income (loss) | -5 | 213 | 1 | -185 | 24 | |||||||||||||||
At December 31, 2013 | $ | 187 | $ | -735 | $ | 3 | $ | — | $ | -545 | ||||||||||
Comprehensive income [Table Text Block] | ' | |||||||||||||||||||
See Note 13 for details of items reclassified from accumulated other comprehensive income (loss) to net earnings. | ||||||||||||||||||||
Primarily reflects cumulative translation adjustments. | ||||||||||||||||||||
Reclassified from accumulated other comprehensive income (loss) to net earnings (loss) from discontinued operations in connection with the disposal of Outdoor Europe (See Note 3). | ||||||||||||||||||||
Stock-based compensation [Table Text Block] | ' | |||||||||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | |||||||||||||||||
RSUs and PSUs | $ | 136 | $ | 111 | $ | 99 | ||||||||||||||
Stock options and equivalents | 93 | 42 | 40 | |||||||||||||||||
Stock-based compensation expense, before income taxes | 229 | 153 | 139 | |||||||||||||||||
Related tax benefit | -89 | -59 | -54 | |||||||||||||||||
Stock-based compensation expense, net of tax benefit | $ | 140 | $ | 94 | $ | 85 |
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Intangible Assets Tables [Abstract] | ' | ||||||||||||||||
Schedule of changes in book value of goodwill by segment [Table Text Block] | ' | ||||||||||||||||
Balance at | Balance at | ||||||||||||||||
31-Dec-12 | Acquisitions | Dispositions | Other (a) | 31-Dec-13 | |||||||||||||
Entertainment: | |||||||||||||||||
Goodwill | $ | 9,460 | $ | 7 | $ | — | $ | — | $ | 9,467 | |||||||
Accumulated impairment losses | -6,294 | — | — | — | -6,294 | ||||||||||||
Goodwill, net of impairment | 3,166 | 7 | — | — | 3,173 | ||||||||||||
Cable Networks: | |||||||||||||||||
Goodwill | 480 | — | — | — | 480 | ||||||||||||
Accumulated impairment losses | — | — | — | — | — | ||||||||||||
Goodwill, net of impairment | 480 | — | — | — | 480 | ||||||||||||
Publishing: | |||||||||||||||||
Goodwill | 407 | — | — | -1 | 406 | ||||||||||||
Accumulated impairment losses | — | — | — | — | — | ||||||||||||
Goodwill, net of impairment | 407 | — | — | -1 | 406 | ||||||||||||
Local Broadcasting: | |||||||||||||||||
Goodwill | 23,209 | — | — | — | 23,209 | ||||||||||||
Accumulated impairment losses | -20,572 | — | — | — | -20,572 | ||||||||||||
Goodwill, net of impairment | 2,637 | — | — | — | 2,637 | ||||||||||||
Outdoor Americas: | |||||||||||||||||
Goodwill | 9,584 | — | -39 | -5 | 9,540 | ||||||||||||
Accumulated impairment losses | -7,707 | — | 33 | — | -7,674 | ||||||||||||
Goodwill, net of impairment | 1,877 | — | -6 | -5 | 1,866 | ||||||||||||
Total: | |||||||||||||||||
Goodwill | 43,140 | 7 | -39 | -6 | 43,102 | ||||||||||||
Accumulated impairment losses | -34,573 | — | 33 | — | -34,540 | ||||||||||||
Goodwill, net of impairment | $ | 8,567 | $ | 7 | $ | -6 | $ | -6 | $ | 8,562 | |||||||
Primarily includes foreign currency translation adjustments. | |||||||||||||||||
Balance at | Balance at | ||||||||||||||||
31-Dec-11 | Acquisitions | Dispositions | Impairment | Other (a) | 31-Dec-12 | ||||||||||||
Entertainment: | |||||||||||||||||
Goodwill | $ | 9,456 | $ | 4 | $ | — | $ | — | $ | — | $ | 9,460 | |||||
Accumulated impairment losses | -6,294 | — | — | — | — | -6,294 | |||||||||||
Goodwill, net of impairment | 3,162 | 4 | — | — | — | 3,166 | |||||||||||
Cable Networks: | |||||||||||||||||
Goodwill | 480 | — | — | — | — | 480 | |||||||||||
Accumulated impairment losses | — | — | — | — | — | — | |||||||||||
Goodwill, net of impairment | 480 | — | — | — | — | 480 | |||||||||||
Publishing: | |||||||||||||||||
Goodwill | 407 | — | — | — | — | 407 | |||||||||||
Accumulated impairment losses | — | — | — | — | — | — | |||||||||||
Goodwill, net of impairment | 407 | — | — | — | — | 407 | |||||||||||
Local Broadcasting: | |||||||||||||||||
Goodwill | 23,466 | 6 | -263 | — | — | 23,209 | |||||||||||
Accumulated impairment losses | -20,816 | — | 255 | -11 | — | -20,572 | |||||||||||
Goodwill, net of impairment | 2,650 | 6 | -8 | -11 | — | 2,637 | |||||||||||
Outdoor Americas: | |||||||||||||||||
Goodwill | 9,579 | — | — | — | 5 | 9,584 | |||||||||||
Accumulated impairment losses | -7,707 | — | — | — | — | -7,707 | |||||||||||
Goodwill, net of impairment | 1,872 | — | — | — | 5 | 1,877 | |||||||||||
Total: | |||||||||||||||||
Goodwill | 43,388 | 10 | -263 | — | 5 | 43,140 | |||||||||||
Accumulated impairment losses | -34,817 | — | 255 | -11 | — | -34,573 | |||||||||||
Goodwill, net of impairment | $ | 8,571 | $ | 10 | $ | -8 | $ | -11 | $ | 5 | $ | 8,567 | |||||
Primarily includes foreign currency translation adjustments. | |||||||||||||||||
Schedule of intangible assets by major class [Table Text Block] | ' | ||||||||||||||||
Accumulated | |||||||||||||||||
At December 31, 2013 | Gross | Amortization | Net | ||||||||||||||
Intangible assets subject to amortization: | |||||||||||||||||
Permits and leasehold agreements | $ | 894 | $ | -670 | $ | 224 | |||||||||||
Franchise agreements | 462 | -321 | 141 | ||||||||||||||
Trade names | 222 | -42 | 180 | ||||||||||||||
Other intangible assets | 213 | -160 | 53 | ||||||||||||||
Total intangible assets subject to amortization | 1,791 | -1,193 | 598 | ||||||||||||||
FCC licenses | 5,832 | — | 5,832 | ||||||||||||||
Total intangible assets | $ | 7,623 | $ | -1,193 | $ | 6,430 | |||||||||||
Accumulated | |||||||||||||||||
At December 31, 2012 | Gross | Amortization | Net | ||||||||||||||
Intangible assets subject to amortization: | |||||||||||||||||
Permits and leasehold agreements | $ | 889 | $ | -635 | $ | 254 | |||||||||||
Franchise agreements | 477 | -309 | 168 | ||||||||||||||
Trade names | 213 | -28 | 185 | ||||||||||||||
Other intangible assets | 245 | -169 | 76 | ||||||||||||||
Total intangible assets subject to amortization | 1,824 | -1,141 | 683 | ||||||||||||||
FCC licenses | 5,832 | — | 5,832 | ||||||||||||||
Total intangible assets | $ | 7,656 | $ | -1,141 | $ | 6,515 | |||||||||||
Schedule of expected amortization expense [Table Text Block] | ' | ||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | |||||||||||||
Amortization expense | $ | 89 | $ | 79 | $ | 68 | $ | 43 | $ | 34 |
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Discontinued Operations Tables [Abstract] | ' | |||||||||||
Discontinued operations [Table Text Block] | ' | |||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | |||||||||
Revenues from discontinued operations | $ | 401 | $ | 588 | $ | 608 | ||||||
Loss from discontinued operations | $ | -247 | $ | -78 | $ | -73 | ||||||
Income tax benefit (provision) | 100 | 18 | -13 | |||||||||
Loss from discontinued operations, net of tax | -147 | -60 | -86 | |||||||||
Gain on disposal | 159 | — | — | |||||||||
Income tax provision | -6 | — | — | |||||||||
Gain on disposal, net of tax | 153 | — | — | |||||||||
Net earnings (loss) from discontinued operations, net of tax | $ | 6 | $ | -60 | $ | -86 | ||||||
Restructuring_Charges_Tables
Restructuring Charges (Tables) | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Restructuring Charges Tables [Abstract] | ' | |||||||||||||||||
Restructuring reserve rollforward [Table Text Block] | ' | |||||||||||||||||
Balance at | 2013 | 2013 | Balance at | |||||||||||||||
31-Dec-12 | Charges | Payments | 31-Dec-13 | |||||||||||||||
Entertainment | $ | 25 | $ | 12 | $ | -23 | $ | 14 | ||||||||||
Cable Networks | — | 1 | — | 1 | ||||||||||||||
Publishing | 2 | 1 | -2 | 1 | ||||||||||||||
Local Broadcasting | 7 | 5 | -4 | 8 | ||||||||||||||
Corporate | 1 | 1 | -1 | 1 | ||||||||||||||
Total | $ | 35 | $ | 20 | $ | -30 | $ | 25 | ||||||||||
Balance at | 2012 | 2012 | Balance at | |||||||||||||||
31-Dec-11 | Charges | Payments | 31-Dec-12 | |||||||||||||||
Entertainment | $ | 40 | $ | 7 | $ | -22 | $ | 25 | ||||||||||
Publishing | 1 | 3 | -2 | 2 | ||||||||||||||
Local Broadcasting | — | 8 | -1 | 7 | ||||||||||||||
Outdoor Americas | 1 | — | -1 | — | ||||||||||||||
Corporate | — | 1 | — | 1 | ||||||||||||||
Total | $ | 42 | $ | 19 | $ | -26 | $ | 35 |
Programming_and_Other_Inventor1
Programming and Other Inventory (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Programming And Other Inventory Tables [Abstract] | ' | ||||||||
Programming and other inventory [Table Text Block] | ' | ||||||||
At December 31, | 2013 | 2012 | |||||||
Program rights | $ | 1,331 | $ | 1,389 | |||||
Television programming: | |||||||||
Released (including acquired libraries) | 878 | 781 | |||||||
In process and other | 139 | 128 | |||||||
Theatrical programming: | |||||||||
Released | 37 | 25 | |||||||
In process and other | 32 | 60 | |||||||
Publishing, primarily finished goods | 51 | 57 | |||||||
Other | 1 | 1 | |||||||
Total programming and other inventory | 2,469 | 2,441 | |||||||
Less current portion | 772 | 859 | |||||||
Total noncurrent programming and other inventory | $ | 1,697 | $ | 1,582 | |||||
Related_Parties_Tables
Related Parties (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Viacom Inc Related Parties Tables [Abstract] | ' | ||||||||
Amounts due from Viacom Inc. [Table Text Block] | ' | ||||||||
At December 31, | 2013 | 2012 | |||||||
Receivables | $ | 84 | $ | 124 | |||||
Other assets (Receivables, noncurrent) | 115 | 133 | |||||||
Total amounts due from Viacom Inc. | $ | 199 | $ | 257 |
Bank_Financing_and_Debt_Tables
Bank Financing and Debt (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Bank Financing And Debt Tables [Abstract] | ' | ||||||||||||||||||
Schedule of long-term debt instruments [Table Text Block] | ' | ||||||||||||||||||
At December 31, | 2013 | 2012 | |||||||||||||||||
Commercial paper | $ | 475 | $ | — | |||||||||||||||
8.875% Notes due 2014 | 99 | 100 | |||||||||||||||||
7.625% Senior Debentures due 2016 | 200 | 200 | |||||||||||||||||
1.95% Senior Notes due 2017 | 397 | 396 | |||||||||||||||||
4.625% Senior Notes due 2018 | 317 | 321 | |||||||||||||||||
8.875% Senior Notes due 2019 | 592 | 591 | |||||||||||||||||
5.750% Senior Notes due 2020 | 500 | 500 | |||||||||||||||||
4.30% Senior Notes due 2021 | 300 | 300 | |||||||||||||||||
3.375% Senior Notes due 2022 | 695 | 694 | |||||||||||||||||
7.875% Debentures due 2023 | 224 | 224 | |||||||||||||||||
7.125% Senior Notes due 2023 (b) | 52 | 52 | |||||||||||||||||
7.875% Senior Debentures due 2030 | 1,270 | 1,271 | |||||||||||||||||
5.50% Senior Debentures due 2033 | 428 | 428 | |||||||||||||||||
5.90% Senior Notes due 2040 | 299 | 299 | |||||||||||||||||
4.85% Senior Notes due 2042 | 488 | 487 | |||||||||||||||||
Obligations under capital leases | 113 | 72 | |||||||||||||||||
Total debt (c) | 6,449 | 5,935 | |||||||||||||||||
Less discontinued operations debt (d) | 13 | 13 | |||||||||||||||||
Total debt from continuing operations | 6,436 | 5,922 | |||||||||||||||||
Less commercial paper | 475 | — | |||||||||||||||||
Less current portion | 21 | 18 | |||||||||||||||||
Total long-term debt from continuing operations, net of current portion | $ | 5,940 | $ | 5,904 | |||||||||||||||
a) Unless otherwise noted, the long-term debt instruments are issuances of CBS Corp. and are guaranteed by CBS Operations Inc. | |||||||||||||||||||
(b) Debt instrument is an issuance of CBS Broadcasting Inc., a wholly owned subsidiary of CBS Corp., and has no guarantor. | |||||||||||||||||||
(c) At December 31, 2013 and December 31, 2012, the senior debt balances included (i) a net unamortized discount of $13 million and $16 million, respectively, and (ii) an increase in the carrying value of the debt relating to previously settled fair value hedges of $18 million and $23 million, respectively. The face value of the Company's total debt was $6.44 billion at December 31, 2013 and $5.93 billion at December 31, 2012. | |||||||||||||||||||
(d) Included in “Liabilities of discontinued operations” on the Consolidated Balance Sheets. | |||||||||||||||||||
Schedule of maturities of long-term debt [Table Text Block] | ' | ||||||||||||||||||
2019 and | |||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | Thereafter | ||||||||||||||
Long-term debt | $ | 99 | $ | — | $ | 200 | $ | 400 | $ | 300 | $ | 4,857 |
Financial_instruments_Tables
Financial instruments (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Financial Instruments Tables [Abstract] | ' | ||||||||||||
Fair value of foreign exchange contracts [Table Text Block] | ' | ||||||||||||
At December 31, | 2013 | 2012 | Balance Sheet Account | ||||||||||
Non-designated hedging instruments: | |||||||||||||
Assets | $ | 3 | $ | — | Other current assets | ||||||||
Liabilities | $ | 4 | $ | 2 | Other current liabilities | ||||||||
Gains (losses) recognized on derivative financial instruments [Table Text Block] | ' | ||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | Financial Statement Account | |||||||||
Non-designated hedging instruments | $ | 2 | $ | -4 | $ | 2 | Other items, net | ||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Fair Value Measurements Tables [Abstract] | ' | |||||||||||||
Fair value measurements [Table Text Block] | ' | |||||||||||||
At December 31, 2013 | Level 1 | Level 2 | Level 3 | Total | ||||||||||
Assets: | ||||||||||||||
Investments | $ | 83 | $ | — | $ | — | $ | 83 | ||||||
Foreign currency hedges | — | 3 | — | 3 | ||||||||||
Total Assets | $ | 83 | $ | 3 | $ | — | $ | 86 | ||||||
Liabilities: | ||||||||||||||
Deferred compensation | $ | — | $ | 268 | $ | — | $ | 268 | ||||||
Guarantees | — | — | 40 | 40 | ||||||||||
Foreign currency hedges | — | 4 | — | 4 | ||||||||||
Total Liabilities | $ | — | $ | 272 | $ | 40 | $ | 312 | ||||||
At December 31, 2012 | Level 1 | Level 2 | Level 3 | Total | ||||||||||
Assets: | ||||||||||||||
Investments | $ | 70 | $ | — | $ | — | $ | 70 | ||||||
Total Assets | $ | 70 | $ | — | $ | — | $ | 70 | ||||||
Liabilities: | ||||||||||||||
Deferred compensation | $ | — | $ | 201 | $ | — | $ | 201 | ||||||
Foreign currency hedges | — | 2 | — | 2 | ||||||||||
Total Liabilities | $ | — | $ | 203 | $ | — | $ | 203 | ||||||
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Stockholders Equity Tables [Abstract] | ' | |||||||||||||||
Rollforward of restricted stock unit and market-based performance share unit activity [Table Text Block] | ' | |||||||||||||||
Weighted Average | ||||||||||||||||
RSUs and PSUs | Grant Date Fair Value | |||||||||||||||
Non-vested at December 31, 2012 | 13,300,969 | $ | 19.89 | |||||||||||||
Granted | 4,150,247 | 40.7 | ||||||||||||||
Vested | -7,355,952 | 16.32 | ||||||||||||||
Forfeited | -576,040 | 28.54 | ||||||||||||||
Non-vested at December 31, 2013 | 9,519,224 | $ | 31.2 | |||||||||||||
Weighted average assumptions for Black-Scholes option pricing model [Table Text Block] | ' | |||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Expected dividend yield | 1.49 | % | 1.92 | % | 2 | % | ||||||||||
Expected stock price volatility | 34.86 | % | 39.09 | % | 41.17 | % | ||||||||||
Risk-free interest rate | 0.97 | % | 0.94 | % | 2.33 | % | ||||||||||
Expected term of options (years) | 5 | 5.02 | 5.06 | |||||||||||||
Rollforward of stock option activity [Table Text Block] | ' | |||||||||||||||
Weighted Average | ||||||||||||||||
Stock Options | Exercise Price | |||||||||||||||
Outstanding at December 31, 2012 | 34,033,101 | $ | 21.96 | |||||||||||||
Granted | 2,750,085 | 44.3 | ||||||||||||||
Exercised | -7,710,210 | 18.66 | ||||||||||||||
Forfeited or expired | -1,098,349 | 29.19 | ||||||||||||||
Outstanding at December 31, 2013 | 27,974,627 | $ | 24.78 | |||||||||||||
Exercisable at December 31, 2013 | 18,139,203 | $ | 22.25 | |||||||||||||
Stock option exercises information [Table Text Block] | ' | |||||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | |||||||||||||
Cash received from stock option exercises | $ | 146 | $ | 168 | $ | 72 | ||||||||||
Tax benefit of stock option exercises | $ | 88 | $ | 67 | $ | 45 | ||||||||||
Intrinsic value of stock option exercises | $ | 229 | $ | 174 | $ | 117 | ||||||||||
Stock options outstanding and exercisable by price [Table Text Block] | ' | |||||||||||||||
Outstanding | Exercisable | |||||||||||||||
Remaining | Weighted | Weighted | ||||||||||||||
Range of | Number of | Contractual | Average | Number | Average | |||||||||||
Exercise Price | Options | Life (Years) | Exercise Price | of Options | Exercise Price | |||||||||||
$5 to 9.99 | 2,854,741 | 3.18 | $ | 5.22 | 2,854,741 | $ | 5.22 | |||||||||
$10 to 19.99 | 4,182,323 | 3.92 | $ | 13.8 | 2,662,606 | $ | 13.94 | |||||||||
$20 to 29.99 | 15,104,406 | 3.73 | $ | 26.47 | 10,009,437 | $ | 26.81 | |||||||||
$30 to 39.99 | 3,110,305 | 3.36 | $ | 32.23 | 2,595,311 | $ | 31.79 | |||||||||
$40 to 49.99 | 2,664,447 | 7.18 | $ | 44.05 | 17,108 | $ | 43.21 | |||||||||
$50 to 59.99 | 58,405 | 7.74 | $ | 57.37 | — | $ | — | |||||||||
27,974,627 | 18,139,203 |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Income Taxes Tables [Abstract] | ' | |||||||||||||
U.S. and foreign components of earnings (loss) from continuing operations before income taxes and equity in loss of investee companies [Table Text Block] | ' | |||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | |||||||||||
United States | $ | 2,518 | $ | 2,236 | $ | 1,878 | ||||||||
Foreign | 379 | 325 | 301 | |||||||||||
Total | $ | 2,897 | $ | 2,561 | $ | 2,179 | ||||||||
Income tax provision components [Table Text Block] | ' | |||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | |||||||||||
Current: | ||||||||||||||
Federal | $ | 395 | $ | 307 | $ | 190 | ||||||||
State and local | 92 | 76 | 52 | |||||||||||
Foreign | 66 | 67 | 57 | |||||||||||
553 | 450 | 299 | ||||||||||||
Deferred | 425 | 442 | 452 | |||||||||||
Provision for income taxes | $ | 978 | $ | 892 | $ | 751 | ||||||||
Reconciliation to U.S. federal statutory income tax rate [Table Text Block] | ' | |||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | |||||||||||
Taxes on income at U.S. federal statutory rate | $ | 1,014 | $ | 896 | $ | 763 | ||||||||
State and local taxes, net of federal tax benefit | 111 | 92 | 82 | |||||||||||
Effect of foreign operations | -88 | -64 | -73 | |||||||||||
Audit settlements, net | -17 | -3 | -6 | |||||||||||
Other, net (a) | -42 | -29 | -15 | |||||||||||
Provision for income taxes | $ | 978 | $ | 892 | $ | 751 | ||||||||
(a) Primarily reflects the Company's domestic production deduction. | ||||||||||||||
Components of deferred income tax assets and liabilities [Table Text Block] | ' | |||||||||||||
At December 31, | 2013 | 2012 | ||||||||||||
Deferred income tax assets: | ||||||||||||||
Provision for expenses and losses | $ | 721 | $ | 801 | ||||||||||
Pension, postretirement and other employee benefits | 431 | 641 | ||||||||||||
Tax credit and loss carryforwards | 679 | 284 | ||||||||||||
Other | 166 | 136 | ||||||||||||
Total deferred income tax assets | 1,997 | 1,862 | ||||||||||||
Valuation allowance | -644 | -249 | ||||||||||||
Deferred income tax assets, net | 1,353 | 1,613 | ||||||||||||
Deferred income tax liabilities: | ||||||||||||||
Intangible assets | -2,072 | -1,995 | ||||||||||||
Property, equipment and other assets | -694 | -610 | ||||||||||||
Total deferred income tax liabilities | -2,766 | -2,605 | ||||||||||||
Deferred income tax liabilities, net | $ | -1,413 | $ | -992 | ||||||||||
Change in reserve for uncertain tax positions [Table Text Block] | ' | |||||||||||||
At January 1, 2011 | $ | 214 | ||||||||||||
Additions for current year tax positions | 11 | |||||||||||||
Additions for prior year tax positions | 12 | |||||||||||||
Reductions for prior year tax positions | -18 | |||||||||||||
Cash settlements | -23 | |||||||||||||
Statute of limitations lapses | -1 | |||||||||||||
At December 31, 2011 | 195 | |||||||||||||
Additions for current year tax positions | 12 | |||||||||||||
Additions for prior year tax positions | 10 | |||||||||||||
Reductions for prior year tax positions | -33 | |||||||||||||
Cash settlements | -8 | |||||||||||||
Statute of limitations lapses | -3 | |||||||||||||
At December 31, 2012 | 173 | |||||||||||||
Additions for current year tax positions | 11 | |||||||||||||
Additions for prior year tax positions | 14 | |||||||||||||
Reductions for prior year tax positions | -40 | |||||||||||||
Cash settlements | -17 | |||||||||||||
Statute of limitations lapses | -1 | |||||||||||||
At December 31, 2013 | $ | 140 |
Recovered_Sheet1
Pension and other Postretirement Benefits (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Pension and Other Postretirement Benefits Tables [Abstract] | ' | |||||||||||||||||||
Change in benefit obligation [Table Text Block] | ' | |||||||||||||||||||
Pension Benefits | Postretirement Benefits | |||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||
Change in benefit obligation: | ||||||||||||||||||||
Benefit obligation, beginning of year | $ | 5,564 | $ | 5,191 | $ | 676 | $ | 697 | ||||||||||||
Service cost | 40 | 36 | — | — | ||||||||||||||||
Interest cost | 213 | 243 | 26 | 33 | ||||||||||||||||
Actuarial (gain) loss | -316 | 498 | -51 | 1 | ||||||||||||||||
Benefits paid | -416 | -413 | -79 | -78 | ||||||||||||||||
Participants' contributions | — | — | 10 | 11 | ||||||||||||||||
Retiree Medicare drug subsidy | — | — | 7 | 12 | ||||||||||||||||
Cumulative translation adjustments | -16 | 9 | — | — | ||||||||||||||||
Benefit obligation, end of year | $ | 5,069 | $ | 5,564 | $ | 589 | $ | 676 | ||||||||||||
Change in plan assets [Table Text Block] | ' | |||||||||||||||||||
Pension Benefits | Postretirement Benefits | |||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||
Change in plan assets: | ||||||||||||||||||||
Fair value of plan assets, beginning of year | $ | 4,274 | $ | 3,948 | $ | 5 | $ | 5 | ||||||||||||
Actual return on plan assets | 182 | 476 | — | — | ||||||||||||||||
Employer contributions | 203 | 254 | 62 | 55 | ||||||||||||||||
Benefits paid | -416 | -413 | -79 | -78 | ||||||||||||||||
Participants' contributions | — | — | 10 | 11 | ||||||||||||||||
Retiree Medicare drug subsidy | — | — | 7 | 12 | ||||||||||||||||
Cumulative translation adjustments | -15 | 9 | — | — | ||||||||||||||||
Fair value of plan assets, end of year | $ | 4,228 | $ | 4,274 | $ | 5 | $ | 5 | ||||||||||||
Funded status and amounts recognized on Consolidated Balance Sheets [Table Text Block] | ' | |||||||||||||||||||
Pension Benefits | Postretirement Benefits | |||||||||||||||||||
At December 31, | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||
Funded status at end of year | $ | -841 | $ | -1,290 | $ | -584 | $ | -671 | ||||||||||||
Amounts recognized on the Consolidated | ||||||||||||||||||||
Balance Sheets: | ||||||||||||||||||||
Other assets | $ | 17 | $ | 17 | $ | — | $ | — | ||||||||||||
Current liabilities | -50 | -51 | -62 | -67 | ||||||||||||||||
Noncurrent liabilities | -808 | -1,256 | -522 | -604 | ||||||||||||||||
Net amounts recognized | $ | -841 | $ | -1,290 | $ | -584 | $ | -671 | ||||||||||||
Amounts recognized in accumulated other comprehensive income (loss) [Table Text Block] | ' | |||||||||||||||||||
Pension Benefits | Postretirement Benefits | |||||||||||||||||||
At December 31, | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||
Net actuarial (loss) gain | $ | -1,543 | $ | -1,854 | $ | 248 | $ | 213 | ||||||||||||
Net prior service (cost) credit | -12 | -14 | 1 | 2 | ||||||||||||||||
Share of equity investee | — | -1 | — | — | ||||||||||||||||
-1,555 | -1,869 | 249 | 215 | |||||||||||||||||
Deferred income taxes | 617 | 739 | -46 | -33 | ||||||||||||||||
Net amount recognized in accumulated other | ||||||||||||||||||||
comprehensive income (loss) | $ | -938 | $ | -1,130 | $ | 203 | $ | 182 | ||||||||||||
Schedule of accumulated benefit obligations in excess of fair value of plan assets [Table Text Block] | ' | |||||||||||||||||||
At December 31, | 2013 | 2012 | ||||||||||||||||||
Projected benefit obligation | $ | 4,892 | $ | 5,407 | ||||||||||||||||
Accumulated benefit obligation | $ | 4,816 | $ | 5,320 | ||||||||||||||||
Fair value of plan assets | $ | 4,037 | $ | 4,100 | ||||||||||||||||
Components of net periodic benefit cost [Table Text Block] | ' | |||||||||||||||||||
Pension Benefits | Postretirement Benefits | |||||||||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||
Components of net periodic cost: | ||||||||||||||||||||
Service cost | $ | 40 | $ | 36 | $ | 34 | $ | — | $ | — | $ | — | ||||||||
Interest cost | 213 | 243 | 249 | 26 | 33 | 38 | ||||||||||||||
Expected return on plan assets | -274 | -250 | -239 | — | — | — | ||||||||||||||
Amortization of actuarial losses (gains) | 86 | 71 | 65 | -16 | -16 | -10 | ||||||||||||||
Amortization of prior service cost (credit) | 2 | 1 | 2 | -1 | -1 | -1 | ||||||||||||||
Net periodic cost | $ | 67 | $ | 101 | $ | 111 | $ | 9 | $ | 16 | $ | 27 | ||||||||
Schedule of amounts recognized in other comprehensive income (loss) [Table Text Block] | ' | |||||||||||||||||||
Pension | Postretirement | |||||||||||||||||||
Year Ended December 31, 2013 | Benefits | Benefits | ||||||||||||||||||
Other comprehensive income (loss): | ||||||||||||||||||||
Actuarial gains | $ | 225 | $ | 51 | ||||||||||||||||
Amortization of actuarial losses (gains) (a) | 86 | -16 | ||||||||||||||||||
Amortization of prior service cost (credit) (a) | 2 | -1 | ||||||||||||||||||
Share of equity investee | 1 | — | ||||||||||||||||||
314 | 34 | |||||||||||||||||||
Deferred income taxes | -122 | -13 | ||||||||||||||||||
Recognized in other comprehensive income, net of tax | $ | 192 | $ | 21 | ||||||||||||||||
Weighted average assumptions used to determine benefit obligations and net periodic cost [Table Text Block] | ' | |||||||||||||||||||
Pension | Postretirement | |||||||||||||||||||
Benefits | Benefits | |||||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||||
Weighted average assumptions used to determine benefit obligations | ||||||||||||||||||||
at December 31: | ||||||||||||||||||||
Discount rate | 4.9 | % | 4 | % | 4.5 | % | 4 | % | ||||||||||||
Rate of compensation increase | 3 | % | 3 | % | N/A | N/A | ||||||||||||||
Weighted average assumptions used to determine net periodic costs | ||||||||||||||||||||
for the year ended December 31: | ||||||||||||||||||||
Discount rate | 4 | % | 4.9 | % | 4 | % | 4.9 | % | ||||||||||||
Expected long-term return on plan assets | 6.5 | % | 6.6 | % | 2 | % | 2 | % | ||||||||||||
Rate of compensation increase | 3 | % | 3 | % | N/A | N/A | ||||||||||||||
N/A - not applicable | ||||||||||||||||||||
Assumptions regarding heath care cost trend rates for postretirement benefits [Table Text Block] | ' | |||||||||||||||||||
2013 | 2012 | |||||||||||||||||||
Projected health care cost trend rate for participants of age 65 and below | 7.5 | % | 8 | % | ||||||||||||||||
Projected health care cost trend rate for participants above age 65 | 7.5 | % | 8 | % | ||||||||||||||||
Ultimate trend rate | 5 | % | 5 | % | ||||||||||||||||
Year ultimate trend rate is achieved for participants of age 65 and below | 2019 | 2019 | ||||||||||||||||||
Year ultimate trend rate is achieved for participants above 65 | 2019 | 2019 | ||||||||||||||||||
Impact of one percentage point change in assumed health care cost trend rates [Table Text Block] | ' | |||||||||||||||||||
One Percentage | One Percentage | |||||||||||||||||||
Point Increase | Point Decrease | |||||||||||||||||||
Effect on total service and interest cost components | $ | — | $ | — | ||||||||||||||||
Effect on the accumulated postretirement benefit obligation | $ | 12 | $ | -11 | ||||||||||||||||
Pension plan assets categorized according to the FASB three-level fair value hierarchy [Table Text Block] | ' | |||||||||||||||||||
At December 31, 2013 | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||
Cash and cash equivalents (a) | $ | 8 | $ | 58 | $ | — | $ | 66 | ||||||||||||
Fixed income securities: | ||||||||||||||||||||
U.S. treasury securities | 134 | — | — | 134 | ||||||||||||||||
Government related securities | 45 | 240 | — | 285 | ||||||||||||||||
Corporate bonds (b) | — | 2,383 | — | 2,383 | ||||||||||||||||
Mortgage-backed and asset-backed securities | — | 128 | 4 | 132 | ||||||||||||||||
Equity securities: (c) | ||||||||||||||||||||
U.S. large capitalization | 350 | 357 | — | 707 | ||||||||||||||||
U.S. small capitalization | 98 | 3 | — | 101 | ||||||||||||||||
International equity (d) | — | 307 | — | 307 | ||||||||||||||||
Limited partnerships | — | — | 55 | 55 | ||||||||||||||||
Other | — | 58 | — | 58 | ||||||||||||||||
Total assets | $ | 635 | $ | 3,534 | $ | 59 | $ | 4,228 | ||||||||||||
At December 31, 2012 | Level 1 | Level 2 | Level 3 | Total | ||||||||||||||||
Cash and cash equivalents (a) | $ | 25 | $ | 146 | $ | — | $ | 171 | ||||||||||||
Fixed income securities: | ||||||||||||||||||||
U.S. treasury securities | 102 | — | — | 102 | ||||||||||||||||
Government related securities | 58 | 361 | — | 419 | ||||||||||||||||
Corporate bonds (b) | — | 2,358 | — | 2,358 | ||||||||||||||||
Mortgage-backed and asset-backed securities | — | 176 | 4 | 180 | ||||||||||||||||
Equity securities: (c) | ||||||||||||||||||||
U.S. large capitalization | 268 | 334 | — | 602 | ||||||||||||||||
U.S. small capitalization | 69 | 6 | — | 75 | ||||||||||||||||
International equity (d) | 5 | 301 | — | 306 | ||||||||||||||||
Limited partnerships | — | — | 52 | 52 | ||||||||||||||||
Other | — | 9 | — | 9 | ||||||||||||||||
Total assets | $ | 527 | $ | 3,691 | $ | 56 | $ | 4,274 | ||||||||||||
Assets categorized as Level 2 reflect investments in money market funds. | ||||||||||||||||||||
Securities of diverse industries, substantially all investment grade. | ||||||||||||||||||||
Assets categorized as Level 2 reflect investments in common collective funds. | ||||||||||||||||||||
Includes investments in emerging market funds of $59 million in 2013 and 2012. | ||||||||||||||||||||
Changes in the fair value of Level 3 assets [Table Text Block] | ' | |||||||||||||||||||
Mortgage- | ||||||||||||||||||||
Limited | backed | |||||||||||||||||||
Partnerships | Securities | Total | ||||||||||||||||||
At January 1, 2012 | $ | 75 | $ | 5 | $ | 80 | ||||||||||||||
Actual return related to investments held at end of year | 6 | — | 6 | |||||||||||||||||
Distributions | -29 | -1 | -30 | |||||||||||||||||
At December 31, 2012 | 52 | 4 | 56 | |||||||||||||||||
Actual return related to investments held at end of year | 4 | — | 4 | |||||||||||||||||
Distributions | -1 | — | -1 | |||||||||||||||||
At December 31, 2013 | $ | 55 | $ | 4 | $ | 59 | ||||||||||||||
Estimated future benefit payments [Table Text Block] | ' | |||||||||||||||||||
2014 | 2015 | 2016 | 2017 | 2018 | 2019-2023 | |||||||||||||||
Pension | $ | 409 | $ | 400 | $ | 389 | $ | 381 | $ | 373 | $ | 1,727 | ||||||||
Postretirement | $ | 72 | $ | 71 | $ | 68 | $ | 66 | $ | 63 | $ | 266 | ||||||||
Retiree Medicare drug subsidy | $ | 10 | $ | 10 | $ | 10 | $ | 10 | $ | 10 | $ | 44 | ||||||||
Multiemployer pension plans [Table Text Block] | ' | |||||||||||||||||||
Expiration | ||||||||||||||||||||
Employer | Pension | Date of | ||||||||||||||||||
Identification | Protection Act | Collective- | ||||||||||||||||||
Number/Pension | Zone Status (a) | Company Contributions | Bargaining | |||||||||||||||||
Pension Plan | Plan Number | 2013 | 2012 | 2013 | 2012 | 2011 | Agreement | |||||||||||||
AFTRA Retirement Plan (b) | 13-6414972-001 | Green | Green | $ | 7 | $ | 7 | $ | 7 | (c) | ||||||||||
Directors Guild of America - Producer | 51-0137697-001 | Green | Green | 5 | 4 | 4 | 6/30/17 | |||||||||||||
Producer-Writers Guild of America | 95-2216351-001 | Green | Green | 8 | 8 | 6 | 5/1/14 | |||||||||||||
Screen Actors Guild - Producers | 95-2110997-001 | Green | Green | 7 | 6 | 6 | 6/30/14 | |||||||||||||
Motion Picture Industry | 95-1810805-001 | Green | Green | 7 | 7 | 8 | (d) | |||||||||||||
Other Plans | 10 | 8 | 6 | |||||||||||||||||
Total contributions | $ | 44 | $ | 40 | $ | 37 | ||||||||||||||
The Zone status for each individual plan listed was certified by each plan's actuary as of the beginning of the plan years for 2013 and 2012. The plan year is the twelve months ending December 31 for each plan listed above except AFTRA Retirement Plan which has a plan year ending November 30. | ||||||||||||||||||||
The Company was listed in AFTRA Retirement Plan's Form 5500 as providing more than 5% of total contributions for the plan year ended November 30, 2012. | ||||||||||||||||||||
The expiration dates range from June 30, 2014 through November 15, 2014. | ||||||||||||||||||||
The expiration dates range from May 15, 2015 through March 2, 2016. | ||||||||||||||||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Commitments And Contingencies Table [Abstract] | ' | ||||||||||||
Commitments [Table Text Block] | ' | ||||||||||||
Programming | Purchase | Other Long-term | |||||||||||
and Talent | Obligations | Contractual Obligations | |||||||||||
2014 | $ | 2,356 | $ | 240 | $ | — | |||||||
2015 | 1,799 | 208 | 639 | ||||||||||
2016 | 1,708 | 131 | 313 | ||||||||||
2017 | 1,463 | 113 | 94 | ||||||||||
2018 | 1,451 | 107 | 56 | ||||||||||
2019 and thereafter | 5,703 | 246 | 53 | ||||||||||
Total | $ | 14,480 | $ | 1,045 | $ | 1,155 | |||||||
Leases | Guaranteed Minimum | ||||||||||||
Capital | Operating | Franchise Payments | |||||||||||
2014 | $ | 21 | $ | 251 | $ | 151 | |||||||
2015 | 20 | 225 | 97 | ||||||||||
2016 | 19 | 201 | 22 | ||||||||||
2017 | 15 | 177 | 15 | ||||||||||
2018 | 15 | 154 | 7 | ||||||||||
2019 and thereafter | 44 | 783 | 39 | ||||||||||
Total minimum payments | $ | 134 | $ | 1,791 | $ | 331 | |||||||
Less amounts representing interest | 21 | ||||||||||||
Present value of minimum payments | $ | 113 |
Reportable_Segments_Tables
Reportable Segments (Tables) | 12 Months Ended | ||||||||||||||
Dec. 31, 2013 | |||||||||||||||
Reportable Segments Tables [Abstract] | ' | ||||||||||||||
Revenues by segment [Table Text Block] | ' | ||||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | ||||||||||||
Revenues: | |||||||||||||||
Entertainment | $ | 8,645 | $ | 7,694 | $ | 7,457 | |||||||||
Cable Networks | 2,069 | 1,772 | 1,621 | ||||||||||||
Publishing | 809 | 790 | 787 | ||||||||||||
Local Broadcasting | 2,696 | 2,774 | 2,689 | ||||||||||||
Outdoor Americas | 1,304 | 1,296 | 1,286 | ||||||||||||
Eliminations | -239 | -237 | -203 | ||||||||||||
Total Revenues | $ | 15,284 | $ | 14,089 | $ | 13,637 | |||||||||
Intercompany revenues by segment [Table Text Block] | ' | ||||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | ||||||||||||
Intercompany Revenues: | |||||||||||||||
Entertainment | $ | 208 | $ | 203 | $ | 160 | |||||||||
Cable Networks | — | — | 1 | ||||||||||||
Local Broadcasting | 17 | 19 | 20 | ||||||||||||
Outdoor Americas | 14 | 15 | 22 | ||||||||||||
Total Intercompany Revenues | $ | 239 | $ | 237 | $ | 203 | |||||||||
Segment OIBDA and reconciliation to consolidated net earnings (loss) [Table Text Block | ' | ||||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | ||||||||||||
Segment OIBDA: | |||||||||||||||
Entertainment | $ | 1,758 | $ | 1,549 | $ | 1,431 | |||||||||
Cable Networks | 898 | 811 | 707 | ||||||||||||
Publishing | 113 | 89 | 92 | ||||||||||||
Local Broadcasting | 898 | 957 | 849 | ||||||||||||
Outdoor Americas | 411 | 378 | 380 | ||||||||||||
Corporate | -342 | -296 | -302 | ||||||||||||
Total Segment OIBDA | 3,736 | 3,488 | 3,157 | ||||||||||||
Restructuring charges | -20 | -19 | -43 | ||||||||||||
Impairment charges | — | -11 | — | ||||||||||||
Depreciation and amortization | -457 | -475 | -495 | ||||||||||||
Operating income | 3,259 | 2,983 | 2,619 | ||||||||||||
Interest expense | -376 | -402 | -435 | ||||||||||||
Interest income | 8 | 6 | 6 | ||||||||||||
Net loss on early extinguishment of debt | — | -32 | — | ||||||||||||
Other items, net | 6 | 6 | -11 | ||||||||||||
Earnings from continuing operations before income | |||||||||||||||
taxes and equity in loss of investee companies | 2,897 | 2,561 | 2,179 | ||||||||||||
Provision for income taxes | -978 | -892 | -751 | ||||||||||||
Equity in loss of investee companies, net of tax | -46 | -35 | -37 | ||||||||||||
Net earnings from continuing operations | 1,873 | 1,634 | 1,391 | ||||||||||||
Net earnings (loss) from discontinued operations, | |||||||||||||||
net of tax | 6 | -60 | -86 | ||||||||||||
Net earnings | $ | 1,879 | $ | 1,574 | $ | 1,305 | |||||||||
Operating income (loss) by segment [Table Text Block] | ' | ||||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | ||||||||||||
Operating Income (Loss): | |||||||||||||||
Entertainment | $ | 1,593 | $ | 1,381 | $ | 1,231 | |||||||||
Cable Networks | 877 | 785 | 684 | ||||||||||||
Publishing | 106 | 80 | 83 | ||||||||||||
Local Broadcasting | 807 | 848 | 750 | ||||||||||||
Outdoor Americas | 243 | 209 | 197 | ||||||||||||
Corporate | -367 | -320 | -326 | ||||||||||||
Total Operating Income | $ | 3,259 | $ | 2,983 | $ | 2,619 | |||||||||
Depreciation and amortization by segment [Table Text Block] | ' | ||||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | ||||||||||||
Depreciation and Amortization: | |||||||||||||||
Entertainment | $ | 153 | $ | 161 | $ | 160 | |||||||||
Cable Networks | 20 | 26 | 23 | ||||||||||||
Publishing | 6 | 6 | 7 | ||||||||||||
Local Broadcasting | 86 | 90 | 99 | ||||||||||||
Outdoor Americas | 168 | 169 | 182 | ||||||||||||
Corporate | 24 | 23 | 24 | ||||||||||||
Total Depreciation and Amortization | $ | 457 | $ | 475 | $ | 495 | |||||||||
Stock-based compensation by segment [Table Text Block] | ' | ||||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | ||||||||||||
Stock-based Compensation: | |||||||||||||||
Entertainment | $ | 56 | $ | 49 | $ | 45 | |||||||||
Cable Networks | 8 | 6 | 4 | ||||||||||||
Publishing | 4 | 3 | 3 | ||||||||||||
Local Broadcasting | 27 | 24 | 22 | ||||||||||||
Outdoor Americas | 7 | 6 | 5 | ||||||||||||
Corporate | 127 | 65 | 60 | ||||||||||||
Total Stock-based Compensation | $ | 229 | $ | 153 | $ | 139 | |||||||||
Capital expenditures by segment [Table Text Block] | ' | ||||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | ||||||||||||
Capital Expenditures: | |||||||||||||||
Entertainment | $ | 101 | $ | 92 | $ | 94 | |||||||||
Cable Networks | 16 | 18 | 15 | ||||||||||||
Publishing | 4 | 5 | 7 | ||||||||||||
Local Broadcasting | 64 | 64 | 69 | ||||||||||||
Outdoor Americas | 58 | 54 | 46 | ||||||||||||
Corporate | 27 | 21 | 14 | ||||||||||||
Total Capital Expenditures | $ | 270 | $ | 254 | $ | 245 | |||||||||
Assets by segment [Table Text Block] | ' | ||||||||||||||
At December 31, | 2013 | 2012 | |||||||||||||
Assets: | |||||||||||||||
Entertainment | $ | 9,657 | $ | 9,023 | |||||||||||
Cable Networks | 1,968 | 1,750 | |||||||||||||
Publishing | 1,026 | 1,033 | |||||||||||||
Local Broadcasting | 9,600 | 9,614 | |||||||||||||
Outdoor Americas | 3,342 | 3,542 | |||||||||||||
Corporate | 676 | 1,026 | |||||||||||||
Discontinued operations | 118 | 478 | |||||||||||||
Total Assets | $ | 26,387 | $ | 26,466 | |||||||||||
Revenues by type [Table Text Block] | ' | ||||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | ||||||||||||
Revenues by Type: | |||||||||||||||
Advertising | $ | 8,803 | $ | 8,459 | $ | 8,399 | |||||||||
Content licensing and distribution | 3,997 | 3,468 | 3,236 | ||||||||||||
Affiliate and subscription fees | 2,221 | 1,921 | 1,762 | ||||||||||||
Other | 263 | 241 | 240 | ||||||||||||
Total Revenues | $ | 15,284 | $ | 14,089 | $ | 13,637 | |||||||||
Revenues by customer location [Table Text Block] | ' | ||||||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | ||||||||||||
Revenues:(a) | |||||||||||||||
United States | $ | 13,293 | $ | 12,358 | $ | 12,055 | |||||||||
International | 1,991 | 1,731 | 1,582 | ||||||||||||
Total Revenues | $ | 15,284 | $ | 14,089 | $ | 13,637 | |||||||||
(a) Revenue classifications are based on customers' locations. | |||||||||||||||
Long-lived assets by geographic area [Table Text Block] | ' | ||||||||||||||
At December 31, | 2013 | 2012 | |||||||||||||
Long-lived Assets: (b) | |||||||||||||||
United States | $ | 20,169 | $ | 19,850 | |||||||||||
International | 533 | 722 | |||||||||||||
Total Long-lived Assets | $ | 20,702 | $ | 20,572 | |||||||||||
(b) Reflects total assets from both continuing and discontinued operations less current assets, investments and | |||||||||||||||
noncurrent deferred tax assets. | |||||||||||||||
Supplemental_Cash_Flow_Informa1
Supplemental Cash Flow Information (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Supplemental Cash Flow Information Tables [Abstract] | ' | ||||||||||
Supplemental cash flow information [Table Text Block] | ' | ||||||||||
Year Ended December 31, | 2013 | 2012 | 2011 | ||||||||
Cash paid for interest, net of amounts capitalized | $ | 360 | $ | 441 | $ | 419 | |||||
Cash paid for income taxes: | |||||||||||
Continuing operations | $ | 422 | $ | 425 | $ | 233 | |||||
Discontinued operations | -36 | -19 | 2 | ||||||||
Total | $ | 386 | $ | 406 | $ | 235 | |||||
Year Ended December 31, | 2013 | 2012 | 2011 | ||||||||
Non-cash investing and financing activities: | |||||||||||
Equipment acquired under capitalized leases | $ | 58 | $ | 13 | $ | 7 | |||||
Investment in investee companies | $ | 13 | $ | — | $ | — | |||||
Contingent consideration associated with acquisitions | $ | — | $ | 4 | $ | 56 |
Quarterly_Financial_Data_unaud1
Quarterly Financial Data (unaudited) (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Quarterly Financial Data Tables [Abstract] | ' | ||||||||||||||||
Quarterly financial information (unaudited) [Table Text Block] | ' | ||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
2013(a) | Quarter | Quarter | Quarter | Quarter | Total Year | ||||||||||||
Revenues: | |||||||||||||||||
Entertainment | $ | 2,539 | $ | 2,008 | $ | 1,884 | $ | 2,214 | $ | 8,645 | |||||||
Cable Networks | 478 | 518 | 596 | 477 | 2,069 | ||||||||||||
Publishing | 171 | 189 | 224 | 225 | 809 | ||||||||||||
Local Broadcasting | 638 | 698 | 641 | 719 | 2,696 | ||||||||||||
Outdoor Americas | 281 | 335 | 341 | 347 | 1,304 | ||||||||||||
Eliminations | -67 | -49 | -52 | -71 | -239 | ||||||||||||
Total Revenues | $ | 4,040 | $ | 3,699 | $ | 3,634 | $ | 3,911 | $ | 15,284 | |||||||
Segment OIBDA: | |||||||||||||||||
Entertainment | $ | 480 | $ | 429 | $ | 431 | $ | 418 | $ | 1,758 | |||||||
Cable Networks | 231 | 207 | 261 | 199 | 898 | ||||||||||||
Publishing | 12 | 21 | 43 | 37 | 113 | ||||||||||||
Local Broadcasting | 199 | 255 | 181 | 263 | 898 | ||||||||||||
Outdoor Americas | 74 | 107 | 110 | 120 | 411 | ||||||||||||
Corporate | -80 | -67 | -85 | -110 | -342 | ||||||||||||
Total Segment OIBDA | 916 | 952 | 941 | 927 | 3,736 | ||||||||||||
Restructuring charges | — | — | — | -20 | -20 | ||||||||||||
Depreciation and amortization | -116 | -114 | -113 | -114 | -457 | ||||||||||||
Total Operating Income | $ | 800 | $ | 838 | $ | 828 | $ | 793 | $ | 3,259 | |||||||
Operating Income (Loss): | |||||||||||||||||
Entertainment | $ | 440 | $ | 391 | $ | 394 | $ | 368 | $ | 1,593 | |||||||
Cable Networks | 227 | 202 | 255 | 193 | 877 | ||||||||||||
Publishing | 10 | 20 | 41 | 35 | 106 | ||||||||||||
Local Broadcasting | 176 | 234 | 161 | 236 | 807 | ||||||||||||
Outdoor Americas | 32 | 65 | 68 | 78 | 243 | ||||||||||||
Corporate | -85 | -74 | -91 | -117 | -367 | ||||||||||||
Total Operating Income | $ | 800 | $ | 838 | $ | 828 | $ | 793 | $ | 3,259 | |||||||
Net earnings from continuing operations | $ | 463 | $ | 476 | $ | 469 | $ | 465 | $ | 1,873 | |||||||
Net earnings | $ | 443 | $ | 472 | $ | 494 | $ | 470 | $ | 1,879 | |||||||
Basic net earnings per common share: | |||||||||||||||||
Net earnings from continuing operations | $ | 0.75 | $ | 0.78 | $ | 0.78 | $ | 0.78 | $ | 3.08 | |||||||
Net earnings | $ | 0.71 | $ | 0.78 | $ | 0.82 | $ | 0.78 | $ | 3.09 | |||||||
Diluted net earnings per common share: | |||||||||||||||||
Net earnings from continuing operations | $ | 0.73 | $ | 0.76 | $ | 0.76 | $ | 0.76 | $ | 3 | |||||||
Net earnings | $ | 0.69 | $ | 0.76 | $ | 0.8 | $ | 0.76 | $ | 3.01 | |||||||
Weighted average number of common shares | |||||||||||||||||
outstanding: | |||||||||||||||||
Basic | 621 | 609 | 603 | 599 | 608 | ||||||||||||
Diluted | 638 | 624 | 618 | 615 | 624 | ||||||||||||
Dividends per common share | $ | 0.12 | $ | 0.12 | $ | 0.12 | $ | 0.12 | $ | 0.48 | |||||||
During 2013, the Company completed the sale of Outdoor Europe which has been presented as a discontinued operation in the consolidated financial statements for all periods presented. | |||||||||||||||||
First | Second | Third | Fourth | ||||||||||||||
2012(a) | Quarter | Quarter | Quarter | Quarter | Total Year | ||||||||||||
Revenues: | |||||||||||||||||
Entertainment | $ | 2,318 | $ | 1,707 | $ | 1,680 | $ | 1,989 | $ | 7,694 | |||||||
Cable Networks | 452 | 446 | 436 | 438 | 1,772 | ||||||||||||
Publishing | 176 | 189 | 210 | 215 | 790 | ||||||||||||
Local Broadcasting | 622 | 704 | 661 | 787 | 2,774 | ||||||||||||
Outdoor Americas | 288 | 334 | 334 | 340 | 1,296 | ||||||||||||
Eliminations | -60 | -51 | -55 | -71 | -237 | ||||||||||||
Total Revenues | $ | 3,796 | $ | 3,329 | $ | 3,266 | $ | 3,698 | $ | 14,089 | |||||||
Segment OIBDA: | |||||||||||||||||
Entertainment | $ | 411 | $ | 426 | $ | 384 | $ | 328 | $ | 1,549 | |||||||
Cable Networks | 209 | 190 | 227 | 185 | 811 | ||||||||||||
Publishing | 10 | 9 | 39 | 31 | 89 | ||||||||||||
Local Broadcasting | 171 | 248 | 213 | 325 | 957 | ||||||||||||
Outdoor Americas | 76 | 103 | 105 | 94 | 378 | ||||||||||||
Corporate | -70 | -65 | -64 | -97 | -296 | ||||||||||||
Total Segment OIBDA | 807 | 911 | 904 | 866 | 3,488 | ||||||||||||
Restructuring charges | — | — | — | -19 | -19 | ||||||||||||
Impairment charges | -11 | — | — | — | -11 | ||||||||||||
Depreciation and amortization | -119 | -119 | -116 | -121 | -475 | ||||||||||||
Total Operating Income | $ | 677 | $ | 792 | $ | 788 | $ | 726 | $ | 2,983 | |||||||
Operating Income (Loss): | |||||||||||||||||
Entertainment | $ | 370 | $ | 385 | $ | 346 | $ | 280 | $ | 1,381 | |||||||
Cable Networks | 204 | 184 | 221 | 176 | 785 | ||||||||||||
Publishing | 8 | 7 | 38 | 27 | 80 | ||||||||||||
Local Broadcasting | 138 | 225 | 190 | 295 | 848 | ||||||||||||
Outdoor Americas | 33 | 62 | 62 | 52 | 209 | ||||||||||||
Corporate | -76 | -71 | -69 | -104 | -320 | ||||||||||||
Total Operating Income | $ | 677 | $ | 792 | $ | 788 | $ | 726 | $ | 2,983 | |||||||
Net earnings from continuing operations | $ | 394 | $ | 452 | $ | 385 | $ | 403 | $ | 1,634 | |||||||
Net earnings | $ | 363 | $ | 427 | $ | 391 | $ | 393 | $ | 1,574 | |||||||
Basic net earnings per common share: | |||||||||||||||||
Net earnings from continuing operations | $ | 0.61 | $ | 0.7 | $ | 0.6 | $ | 0.64 | $ | 2.55 | |||||||
Net earnings | $ | 0.56 | $ | 0.66 | $ | 0.61 | $ | 0.62 | $ | 2.45 | |||||||
Diluted net earnings per common share: | |||||||||||||||||
Net earnings from continuing operations | $ | 0.59 | $ | 0.68 | $ | 0.59 | $ | 0.62 | $ | 2.48 | |||||||
Net earnings | $ | 0.54 | $ | 0.65 | $ | 0.6 | $ | 0.6 | $ | 2.39 | |||||||
Weighted average number of common shares | |||||||||||||||||
outstanding: | |||||||||||||||||
Basic | 650 | 646 | 640 | 634 | 642 | ||||||||||||
Diluted | 667 | 661 | 656 | 650 | 659 | ||||||||||||
Dividends per common share | $ | 0.1 | $ | 0.1 | $ | 0.12 | $ | 0.12 | $ | 0.44 | |||||||
During 2013, the Company completed the sale of Outdoor Europe which has been presented as a discontinued operation in the consolidated financial statements for all periods presented. | |||||||||||||||||
Condensed_Consolidating_Financ1
Condensed Consolidating Financial Statements (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Condensed Consolidating Financial Statements Details [Abstract] | ' | ||||||||||||
Condensed Consolidating Statement of Operations [Table Text Block] | ' | ||||||||||||
Statement of Operations | |||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||
CBS Corp. | CBS Operations Inc. | Non-Guarantor Affiliates | Eliminations | CBS Corp. Consolidated | |||||||||
Revenues | $ | 145 | $ | 11 | $ | 15,128 | $ | — | $ | 15,284 | |||
Expenses: | |||||||||||||
Operating | 69 | 8 | 8,736 | — | 8,813 | ||||||||
Selling, general and administrative | 65 | 332 | 2,338 | — | 2,735 | ||||||||
Restructuring charges | — | 1 | 19 | — | 20 | ||||||||
Depreciation and amortization | 6 | 14 | 437 | — | 457 | ||||||||
Total expenses | 140 | 355 | 11,530 | — | 12,025 | ||||||||
Operating income (loss) | 5 | -344 | 3,598 | — | 3,259 | ||||||||
Interest (expense) income, net | -457 | -369 | 458 | — | -368 | ||||||||
Other items, net | — | 4 | 2 | — | 6 | ||||||||
Earnings (loss) from continuing operations | |||||||||||||
before income taxes and equity in earnings | |||||||||||||
(loss) of investee companies | -452 | -709 | 4,058 | — | 2,897 | ||||||||
(Provision) benefit for income taxes | 154 | 242 | -1,374 | — | -978 | ||||||||
Equity in earnings (loss) of investee companies, | |||||||||||||
net of tax | 2,168 | 1,288 | -46 | -3,456 | -46 | ||||||||
Net earnings from continuing operations | 1,870 | 821 | 2,638 | -3,456 | 1,873 | ||||||||
Net earnings (loss) from discontinued operations, | |||||||||||||
net of tax | 9 | — | -3 | — | 6 | ||||||||
Net earnings | $ | 1,879 | $ | 821 | $ | 2,635 | $ | -3,456 | $ | 1,879 | |||
Total comprehensive income | $ | 1,903 | $ | 818 | $ | 2,458 | $ | -3,276 | $ | 1,903 | |||
Statement of Operations | |||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||
CBS Corp. | CBS Operations Inc. | Non-Guarantor Affiliates | Eliminations | CBS Corp. Consolidated | |||||||||
Revenues | $ | 157 | $ | 15 | $ | 13,917 | $ | — | $ | 14,089 | |||
Expenses: | |||||||||||||
Operating | 74 | 8 | 7,885 | — | 7,967 | ||||||||
Selling, general and administrative | 87 | 255 | 2,292 | — | 2,634 | ||||||||
Restructuring charges | — | 2 | 17 | — | 19 | ||||||||
Impairment charges | — | — | 11 | — | 11 | ||||||||
Depreciation and amortization | 6 | 14 | 455 | — | 475 | ||||||||
Total expenses | 167 | 279 | 10,660 | — | 11,106 | ||||||||
Operating income (loss) | -10 | -264 | 3,257 | — | 2,983 | ||||||||
Interest (expense) income, net | -480 | -351 | 435 | — | -396 | ||||||||
Net loss on early extinguishment of debt | -32 | — | — | — | -32 | ||||||||
Other items, net | 1 | -5 | 10 | — | 6 | ||||||||
Earnings (loss) from continuing operations | |||||||||||||
before income taxes and equity in earnings | |||||||||||||
(loss) of investee companies | -521 | -620 | 3,702 | — | 2,561 | ||||||||
(Provision) benefit for income taxes | 185 | 218 | -1,295 | — | -892 | ||||||||
Equity in earnings (loss) of investee companies, | |||||||||||||
net of tax | 1,884 | 1,145 | -35 | -3,029 | -35 | ||||||||
Net earnings from continuing operations | 1,548 | 743 | 2,372 | -3,029 | 1,634 | ||||||||
Net earnings (loss) from discontinued operations, | |||||||||||||
net of tax | 26 | -1 | -85 | — | -60 | ||||||||
Net earnings | $ | 1,574 | $ | 742 | $ | 2,287 | $ | -3,029 | $ | 1,574 | |||
Total comprehensive income | $ | 1,444 | $ | 735 | $ | 2,295 | $ | -3,030 | $ | 1,444 | |||
Statement of Operations | |||||||||||||
For the Year Ended December 31, 2011 | |||||||||||||
CBS Corp. | CBS Operations Inc. | Non-Guarantor Affiliates | Eliminations | CBS Corp. Consolidated | |||||||||
Revenues | $ | 131 | $ | 19 | $ | 13,487 | $ | — | $ | 13,637 | |||
Expenses: | |||||||||||||
Operating | 72 | 8 | 7,802 | — | 7,882 | ||||||||
Selling, general and administrative | 109 | 247 | 2,242 | — | 2,598 | ||||||||
Restructuring charges | — | — | 43 | — | 43 | ||||||||
Depreciation and amortization | 5 | 15 | 475 | — | 495 | ||||||||
Total expenses | 186 | 270 | 10,562 | — | 11,018 | ||||||||
Operating income (loss) | -55 | -251 | 2,925 | — | 2,619 | ||||||||
Interest (expense) income, net | -514 | -341 | 426 | — | -429 | ||||||||
Other items, net | — | 6 | -17 | — | -11 | ||||||||
Earnings (loss) from continuing operations | |||||||||||||
before income taxes and equity in earnings | |||||||||||||
(loss) of investee companies | -569 | -586 | 3,334 | — | 2,179 | ||||||||
(Provision) benefit for income taxes | 201 | 207 | -1,159 | — | -751 | ||||||||
Equity in earnings (loss) of investee companies, | |||||||||||||
net of tax | 1,666 | 1,256 | -37 | -2,922 | -37 | ||||||||
Net earnings from continuing operations | 1,298 | 877 | 2,138 | -2,922 | 1,391 | ||||||||
Net earnings (loss) from discontinued operations, | |||||||||||||
net of tax | 7 | 7 | -100 | — | -86 | ||||||||
Net earnings | $ | 1,305 | $ | 884 | $ | 2,038 | $ | -2,922 | $ | 1,305 | |||
Total comprehensive income | $ | 1,152 | $ | 884 | $ | 2,021 | $ | -2,905 | $ | 1,152 | |||
Condensed Consolidating Balance Sheet [Table Text Block] | ' | ||||||||||||
Balance Sheet | |||||||||||||
At December 31, 2013 | |||||||||||||
CBS Corp. | CBS Operations Inc. | Non-Guarantor Affiliates | Eliminations | CBS Corp. Consolidated | |||||||||
Assets | |||||||||||||
Cash and cash equivalents | $ | 80 | $ | 1 | $ | 316 | $ | — | $ | 397 | |||
Receivables, net | 30 | 2 | 3,383 | — | 3,415 | ||||||||
Programming and other inventory | 4 | 2 | 766 | — | 772 | ||||||||
Prepaid expenses and other current assets | 179 | 18 | 615 | -26 | 786 | ||||||||
Total current assets | 293 | 23 | 5,080 | -26 | 5,370 | ||||||||
Property and equipment | 37 | 137 | 4,849 | — | 5,023 | ||||||||
Less accumulated depreciation and amortization | 9 | 83 | 2,695 | — | 2,787 | ||||||||
Net property and equipment | 28 | 54 | 2,154 | — | 2,236 | ||||||||
Programming and other inventory | 5 | — | 1,692 | — | 1,697 | ||||||||
Goodwill | 98 | 62 | 8,402 | — | 8,562 | ||||||||
Intangible assets | — | — | 6,430 | — | 6,430 | ||||||||
Investments in consolidated subsidiaries | 40,450 | 10,415 | — | -50,865 | — | ||||||||
Other assets | 89 | 18 | 1,985 | — | 2,092 | ||||||||
Intercompany | — | 3,230 | 18,423 | -21,653 | — | ||||||||
Total Assets | $ | 40,963 | $ | 13,802 | $ | 44,166 | $ | -72,544 | $ | 26,387 | |||
Liabilities and Stockholders’ Equity | |||||||||||||
Accounts payable | $ | 1 | $ | 8 | $ | 362 | $ | — | $ | 371 | |||
Participants’ share and royalties payable | — | — | 1,008 | — | 1,008 | ||||||||
Program rights | 5 | 2 | 391 | — | 398 | ||||||||
Commercial paper | 475 | — | — | — | 475 | ||||||||
Current portion of long-term debt | 5 | — | 16 | — | 21 | ||||||||
Accrued expenses and other current liabilities | 361 | 293 | 1,306 | -26 | 1,934 | ||||||||
Total current liabilities | 847 | 303 | 3,083 | -26 | 4,207 | ||||||||
Long-term debt | 5,791 | — | 149 | — | 5,940 | ||||||||
Other liabilities | 2,706 | 303 | 3,265 | — | 6,274 | ||||||||
Intercompany | 21,653 | — | — | -21,653 | — | ||||||||
Stockholders’ Equity: | |||||||||||||
Preferred stock | — | — | 126 | -126 | — | ||||||||
Common stock | 1 | 123 | 953 | -1,076 | 1 | ||||||||
Additional paid-in capital | 43,474 | — | 61,678 | -61,678 | 43,474 | ||||||||
Retained earnings (deficit) | -24,890 | 13,414 | -20,414 | 7,000 | -24,890 | ||||||||
Accumulated other comprehensive income (loss) | -545 | -10 | 126 | -116 | -545 | ||||||||
18,040 | 13,527 | 42,469 | -55,996 | 18,040 | |||||||||
Less treasury stock, at cost | 8,074 | 331 | 4,800 | -5,131 | 8,074 | ||||||||
Total Stockholders’ Equity | 9,966 | 13,196 | 37,669 | -50,865 | 9,966 | ||||||||
Total Liabilities and Stockholders’ Equity | $ | 40,963 | $ | 13,802 | $ | 44,166 | $ | -72,544 | $ | 26,387 | |||
Balance Sheet | |||||||||||||
At December 31, 2012 | |||||||||||||
CBS Corp. | CBS Operations Inc. | Non-Guarantor Affiliates | Eliminations | CBS Corp. Consolidated | |||||||||
Assets | |||||||||||||
Cash and cash equivalents | $ | 254 | $ | 1 | $ | 453 | $ | — | $ | 708 | |||
Receivables, net | 31 | 2 | 3,104 | — | 3,137 | ||||||||
Programming and other inventory | 5 | 3 | 851 | — | 859 | ||||||||
Prepaid expenses and other current assets | 142 | 14 | 886 | -26 | 1,016 | ||||||||
Total current assets | 432 | 20 | 5,294 | -26 | 5,720 | ||||||||
Property and equipment | 39 | 117 | 4,832 | — | 4,988 | ||||||||
Less accumulated depreciation and amortization | 8 | 69 | 2,640 | — | 2,717 | ||||||||
Net property and equipment | 31 | 48 | 2,192 | — | 2,271 | ||||||||
Programming and other inventory | 3 | 2 | 1,577 | — | 1,582 | ||||||||
Goodwill | 98 | 62 | 8,407 | — | 8,567 | ||||||||
Intangible assets | — | — | 6,515 | — | 6,515 | ||||||||
Investments in consolidated subsidiaries | 38,658 | 9,128 | — | -47,786 | — | ||||||||
Other assets | 171 | 14 | 1,626 | — | 1,811 | ||||||||
Intercompany | — | 3,655 | 16,122 | -19,777 | — | ||||||||
Total Assets | $ | 39,393 | $ | 12,929 | $ | 41,733 | $ | -67,589 | $ | 26,466 | |||
Liabilities and Stockholders’ Equity | |||||||||||||
Accounts payable | $ | 2 | $ | 6 | $ | 378 | $ | — | $ | 386 | |||
Participants’ share and royalties payable | — | — | 953 | — | 953 | ||||||||
Program rights | 6 | 4 | 445 | — | 455 | ||||||||
Current portion of long-term debt | 5 | — | 13 | — | 18 | ||||||||
Accrued expenses and other current liabilities | 345 | 286 | 1,524 | -26 | 2,129 | ||||||||
Total current liabilities | 358 | 296 | 3,313 | -26 | 3,941 | ||||||||
Long-term debt | 5,793 | — | 111 | — | 5,904 | ||||||||
Other liabilities | 3,252 | 255 | 2,901 | — | 6,408 | ||||||||
Intercompany | 19,777 | — | — | -19,777 | — | ||||||||
Stockholders’ Equity: | |||||||||||||
Preferred stock | — | — | 128 | -128 | — | ||||||||
Common stock | 1 | 123 | 1,136 | -1,259 | 1 | ||||||||
Additional paid-in capital | 43,424 | — | 61,690 | -61,690 | 43,424 | ||||||||
Retained earnings (deficit) | -26,769 | 12,593 | -23,049 | 10,456 | -26,769 | ||||||||
Accumulated other comprehensive income (loss) | -569 | -7 | 303 | -296 | -569 | ||||||||
16,087 | 12,709 | 40,208 | -52,917 | 16,087 | |||||||||
Less treasury stock, at cost | 5,874 | 331 | 4,800 | -5,131 | 5,874 | ||||||||
Total Stockholders’ Equity | 10,213 | 12,378 | 35,408 | -47,786 | 10,213 | ||||||||
Total Liabilities and Stockholders’ Equity | $ | 39,393 | $ | 12,929 | $ | 41,733 | $ | -67,589 | $ | 26,466 | |||
Condensed Consolidating Statement of Cash Flows [Table Text Block] | ' | ||||||||||||
Statement of Cash Flows | |||||||||||||
For the Year Ended December 31, 2013 | |||||||||||||
CBS Corp. | CBS Operations Inc. | Non-Guarantor Affiliates | Eliminations | CBS Corp. Consolidated | |||||||||
Net cash flow (used for) provided by operating | |||||||||||||
activities | $ | -934 | $ | -187 | $ | 2,994 | $ | — | $ | 1,873 | |||
Investing Activities: | |||||||||||||
Acquisitions, net of cash acquired | — | — | -32 | — | -32 | ||||||||
Capital expenditures | — | -27 | -243 | — | -270 | ||||||||
Investments in and advances to investee companies | — | — | -176 | — | -176 | ||||||||
Proceeds from sale of investments | 23 | 1 | 6 | — | 30 | ||||||||
Proceeds from dispositions | — | — | 193 | — | 193 | ||||||||
Net cash flow provided by (used for) investing activities | |||||||||||||
from continuing operations | 23 | -26 | -252 | — | -255 | ||||||||
Net cash flow used for investing activities | |||||||||||||
from discontinued operations | — | — | -17 | — | -17 | ||||||||
Net cash flow provided by (used for) investing activities | 23 | -26 | -269 | — | -272 | ||||||||
Financing Activities: | |||||||||||||
Proceeds from short-term debt borrowings, net | 475 | — | — | — | 475 | ||||||||
Payment of capital lease obligations | — | — | -17 | — | -17 | ||||||||
Payment of contingent consideration | — | — | -30 | — | -30 | ||||||||
Dividends | -300 | — | — | — | -300 | ||||||||
Purchase of Company common stock | -2,185 | — | — | — | -2,185 | ||||||||
Payment of payroll taxes in lieu of issuing | |||||||||||||
shares for stock-based compensation | -145 | — | — | — | -145 | ||||||||
Proceeds from exercise of stock options | 146 | — | — | — | 146 | ||||||||
Excess tax benefit from stock-based compensation | 148 | — | — | — | 148 | ||||||||
Other financing activities | -4 | — | — | — | -4 | ||||||||
Increase (decrease) in intercompany payables | 2,602 | 213 | -2,815 | — | — | ||||||||
Net cash flow provided by (used for) financing | |||||||||||||
activities | 737 | 213 | -2,862 | — | -1,912 | ||||||||
Net decrease in cash and cash equivalents | -174 | — | -137 | — | -311 | ||||||||
Cash and cash equivalents at beginning of year | 254 | 1 | 453 | — | 708 | ||||||||
Cash and cash equivalents at end of year | $ | 80 | $ | 1 | $ | 316 | $ | — | $ | 397 | |||
Statement of Cash Flows | |||||||||||||
For the Year Ended December 31, 2012 | |||||||||||||
CBS Corp. | CBS Operations Inc. | Non-Guarantor Affiliates | Eliminations | CBS Corp. Consolidated | |||||||||
Net cash flow (used for) provided by operating | |||||||||||||
activities | $ | -827 | $ | -179 | $ | 2,821 | $ | — | $ | 1,815 | |||
Investing Activities: | |||||||||||||
Acquisitions, net of cash acquired | — | — | -146 | — | -146 | ||||||||
Capital expenditures | — | -21 | -233 | — | -254 | ||||||||
Investments in and advances to investee companies | — | — | -91 | — | -91 | ||||||||
Proceeds from sale of investments | 9 | 2 | 2 | — | 13 | ||||||||
Proceeds from dispositions | — | — | 49 | — | 49 | ||||||||
Net cash flow provided by (used for) investing activities | |||||||||||||
from continuing operations | 9 | -19 | -419 | — | -429 | ||||||||
Net cash flow used for investing activities | |||||||||||||
from discontinued operations | — | — | -22 | — | -22 | ||||||||
Net cash flow provided by (used for) investing activities | 9 | -19 | -441 | — | -451 | ||||||||
Financing Activities: | |||||||||||||
Proceeds from issuance of notes | 1,566 | — | — | — | 1,566 | ||||||||
Repayment of notes and debentures | -1,583 | — | — | — | -1,583 | ||||||||
Payment of capital lease obligations | — | — | -19 | — | -19 | ||||||||
Payment of contingent consideration | — | — | -33 | — | -33 | ||||||||
Dividends | -276 | — | — | — | -276 | ||||||||
Purchase of Company common stock | -1,137 | — | — | — | -1,137 | ||||||||
Payment of payroll taxes in lieu of issuing | |||||||||||||
shares for stock-based compensation | -105 | — | — | — | -105 | ||||||||
Proceeds from exercise of stock options | 168 | — | — | — | 168 | ||||||||
Excess tax benefit from stock-based compensation | 103 | — | — | — | 103 | ||||||||
Increase (decrease) in intercompany payables | 2,202 | 198 | -2,400 | — | — | ||||||||
Net cash flow provided by (used for) financing | |||||||||||||
activities | 938 | 198 | -2,452 | — | -1,316 | ||||||||
Net increase (decrease) in cash and cash equivalents | 120 | — | -72 | — | 48 | ||||||||
Cash and cash equivalents at beginning of year | 134 | 1 | 525 | — | 660 | ||||||||
Cash and cash equivalents at end of year | $ | 254 | $ | 1 | $ | 453 | $ | — | $ | 708 | |||
Statement of Cash Flows | |||||||||||||
For the Year Ended December 31, 2011 | |||||||||||||
CBS Corp. | CBS Operations Inc. | Non-Guarantor Affiliates | Eliminations | CBS Corp. Consolidated | |||||||||
Net cash flow (used for) provided by operating | |||||||||||||
activities | $ | -700 | $ | -181 | $ | 2,630 | $ | — | $ | 1,749 | |||
Investing Activities: | |||||||||||||
Acquisitions, net of cash acquired | — | — | -75 | — | -75 | ||||||||
Capital expenditures | — | -14 | -231 | — | -245 | ||||||||
Investments in and advances to investee companies | — | — | -79 | — | -79 | ||||||||
Proceeds from sale of investments | 8 | 4 | — | — | 12 | ||||||||
Proceeds from dispositions | — | — | 18 | — | 18 | ||||||||
Net cash flow provided by (used for) investing activities | |||||||||||||
from continuing operations | 8 | -10 | -367 | — | -369 | ||||||||
Net cash flow used for investing activities | |||||||||||||
from discontinued operations | — | — | -20 | — | -20 | ||||||||
Net cash flow provided by (used for) investing activities | 8 | -10 | -387 | — | -389 | ||||||||
Financing Activities: | |||||||||||||
Payment of capital lease obligations | — | — | -19 | — | -19 | ||||||||
Dividends | -206 | — | — | — | -206 | ||||||||
Purchase of Company common stock | -1,012 | — | — | — | -1,012 | ||||||||
Payment of payroll taxes in lieu of issuing | |||||||||||||
shares for stock-based compensation | -82 | — | — | — | -82 | ||||||||
Proceeds from exercise of stock options | 72 | — | — | — | 72 | ||||||||
Excess tax benefit from stock-based compensation | 72 | — | — | — | 72 | ||||||||
Other financing activities | -5 | — | — | — | -5 | ||||||||
Increase (decrease) in intercompany payables | 1,882 | 191 | -2,073 | — | — | ||||||||
Net cash flow provided by (used for) financing | |||||||||||||
activities | 721 | 191 | -2,092 | — | -1,180 | ||||||||
Net increase in cash and cash equivalents | 29 | — | 151 | — | 180 | ||||||||
Cash and cash equivalents at beginning of year | 105 | 1 | 374 | — | 480 | ||||||||
Cash and cash equivalents at end of year | $ | 134 | $ | 1 | $ | 525 | $ | — | $ | 660 | |||
Schedule_II_Valuation_and_Qual1
Schedule II - Valuation and Qualifying Accounts (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Schedule Of Valuation And Qualifying Accounts Tables [Abstract] | ' | |||||||||||||||||||
Schedule II - Valuation and qualifying accounts [Table Text Block] | ' | |||||||||||||||||||
Col. A | Col. B | ` | Col. D | Col. E | ||||||||||||||||
Balance at | Balance | Charged to | Charged | Balance at | ||||||||||||||||
Beginning | Acquired through | Costs and | to Other | End of | ||||||||||||||||
Description | of Period | Acquisitions | Expenses | Accounts (a) | Deductions | Period | ||||||||||||||
Allowance for doubtful | ||||||||||||||||||||
accounts: | ||||||||||||||||||||
Year ended December 31, 2013 | $ | 81 | $ | — | $ | 15 | $ | — | $ | 20 | $ | 76 | ||||||||
Year ended December 31, 2012 | $ | 100 | $ | — | $ | 17 | $ | — | $ | 36 | $ | 81 | ||||||||
Year ended December 31, 2011 | $ | 117 | $ | — | $ | 24 | $ | 9 | $ | 50 | $ | 100 | ||||||||
Valuation allowance on | ||||||||||||||||||||
deferred tax assets: | ||||||||||||||||||||
Year ended December 31, 2013 | $ | 249 | $ | — | $ | 453 | (b) | $ | — | $ | 58 | $ | 644 | |||||||
Year ended December 31, 2012 | $ | 235 | $ | — | $ | 38 | $ | — | $ | 24 | $ | 249 | ||||||||
Year ended December 31, 2011 | $ | 247 | $ | — | $ | 17 | $ | — | $ | 29 | $ | 235 | ||||||||
Reserves for inventory | ||||||||||||||||||||
obsolescence: | ||||||||||||||||||||
Year ended December 31, 2013 | $ | 32 | $ | — | $ | 15 | $ | — | $ | 12 | $ | 35 | ||||||||
Year ended December 31, 2012 | $ | 27 | $ | — | $ | 13 | $ | — | $ | 8 | $ | 32 | ||||||||
Year ended December 31, 2011 | $ | 22 | $ | — | $ | 14 | $ | — | $ | 9 | $ | 27 | ||||||||
Primarily reflects reclasses from other balance sheet accounts. | ||||||||||||||||||||
Primarily relates to the valuation allowances for a capital loss deferred tax asset in a foreign jurisdiction that arose from the restructuring of foreign operations and net operating loss deferred tax assets in foreign jurisdictions. | ||||||||||||||||||||
Basis_of_Presentation_and_Summ3
Basis of Presentation and Summary of Significant Accounting Policies (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
Share data in Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Basis Of Presentation And Summary Of Significant Accounting Policies Details [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation expense | ' | ' | ' | ' | ' | ' | ' | ' | $357,000,000 | $369,000,000 | $374,000,000 | ' |
Amortization expense related to capital leases | ' | ' | ' | ' | ' | ' | ' | ' | 17,000,000 | 19,000,000 | 19,000,000 | ' |
Accumulated amortization of capital leases | 62,000,000 | ' | ' | ' | 131,000,000 | ' | ' | ' | 62,000,000 | 131,000,000 | ' | ' |
Noncurrent receivables | 1,560,000,000 | ' | ' | ' | 1,100,000,000 | ' | ' | ' | 1,560,000,000 | 1,100,000,000 | ' | ' |
Advertising Expense | ' | ' | ' | ' | ' | ' | ' | ' | 450,000,000 | 419,000,000 | 399,000,000 | ' |
Provision for doubtful accounts charged to expense | ' | ' | ' | ' | ' | ' | ' | ' | 15,000,000 | 17,000,000 | 24,000,000 | ' |
Net Earnings (Loss) per Common Share [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average shares for basic EPS | 599 | 603 | 609 | 621 | 634 | 640 | 646 | 650 | 608 | 642 | 664 | ' |
Dilutive effect of shares issuable under stock-based compensation plans | ' | ' | ' | ' | ' | ' | ' | ' | 16 | 17 | 17 | ' |
Weighted average shares for diluted EPS | 615 | 618 | 624 | 638 | 650 | 656 | 661 | 667 | 624 | 659 | 681 | ' |
Anti Dilutive Securities [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Antidilutive securities excluded from computation of earnings per share | ' | ' | ' | ' | ' | ' | ' | ' | 2 | 4 | 21 | ' |
Comprehensive Income (Loss) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax (provision) benefit on net actuarial gain (loss) and prior service costs related to pension and other postretirement plans | ' | ' | ' | ' | ' | ' | ' | ' | -135,000,000 | 80,000,000 | 77,000,000 | ' |
Total other comprehensive income (loss), net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 24,000,000 | -130,000,000 | -153,000,000 | ' |
Accumulated Other Comprehensive Income Loss Net Of Tax Abstract | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | -545,000,000 | ' | ' | ' | -569,000,000 | ' | ' | ' | -545,000,000 | -569,000,000 | -439,000,000 | -286,000,000 |
Other comprehensive income (loss) before reclassifications | ' | ' | ' | ' | ' | ' | ' | ' | 158,000,000 | ' | ' | ' |
Reclassifications from accumulated other comprehensive income (loss) to net earnings | ' | ' | ' | ' | ' | ' | ' | ' | -134,000,000 | ' | ' | ' |
Stock Based Compensation Table Detail [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense, before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 229,000,000 | 153,000,000 | 139,000,000 | ' |
Continuing Operations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Comprehensive Income (Loss) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cumulative translation adjustments | ' | ' | ' | ' | ' | ' | ' | ' | -5,000,000 | 30,000,000 | 4,000,000 | ' |
Net actuarial gain (loss) and prior service cost | ' | ' | ' | ' | ' | ' | ' | ' | 213,000,000 | -138,000,000 | -145,000,000 | ' |
Unrealized gain (loss) on securities | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | 0 | 0 | ' |
Total other comprehensive income (loss), net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 209,000,000 | -108,000,000 | -141,000,000 | ' |
Accumulated Other Comprehensive Income Loss Net Of Tax Abstract | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cumulative Translation Adjustments, Accumulated Other Comprehensive Income | 187,000,000 | ' | ' | ' | 192,000,000 | ' | ' | ' | 187,000,000 | 192,000,000 | 162,000,000 | 158,000,000 |
Net Actuarial Gain (Loss) and Prior Service Cost, Accumulated Other Comprehensive Income | -735,000,000 | ' | ' | ' | -948,000,000 | ' | ' | ' | -735,000,000 | -948,000,000 | -810,000,000 | -665,000,000 |
Unrealized Gain (Loss) on Securities, Accumulated Other Comprehensive Income | 3,000,000 | ' | ' | ' | 2,000,000 | ' | ' | ' | 3,000,000 | 2,000,000 | 2,000,000 | 2,000,000 |
Stock Based Compensation Table Detail [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
RSUs and PSUs | ' | ' | ' | ' | ' | ' | ' | ' | 136,000,000 | 111,000,000 | 99,000,000 | ' |
Stock options and equivalents | ' | ' | ' | ' | ' | ' | ' | ' | 93,000,000 | 42,000,000 | 40,000,000 | ' |
Stock-based compensation expense, before income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 229,000,000 | 153,000,000 | 139,000,000 | ' |
Related tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | -89,000,000 | -59,000,000 | -54,000,000 | ' |
Stock-based compensation expense, net of tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | 140,000,000 | 94,000,000 | 85,000,000 | ' |
Continuing Operations [Member] | Cumulative Translation Adjustments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income Loss Net Of Tax Abstract | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income (loss) before reclassifications | ' | ' | ' | ' | ' | ' | ' | ' | -5,000,000 | ' | ' | ' |
Reclassifications from accumulated other comprehensive income (loss) to net earnings | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Continuing Operations [Member] | Net Actuarial Gain (Loss) and Prior Service Cost [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income Loss Net Of Tax Abstract | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income (loss) before reclassifications | ' | ' | ' | ' | ' | ' | ' | ' | 169,000,000 | ' | ' | ' |
Reclassifications to net earnings of net actuarial gain (loss) and prior service costs | ' | ' | ' | ' | ' | ' | ' | ' | 44,000,000 | ' | ' | ' |
Continuing Operations [Member] | Unrealized Gain on Securities [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income Loss Net Of Tax Abstract | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other comprehensive income (loss) before reclassifications | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' |
Reclassifications from accumulated other comprehensive income (loss) to net earnings | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Discontinued Operations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Comprehensive Income (Loss) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tax on other comprehensive income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | 1,000,000 | 1,000,000 | ' |
Total other comprehensive income (loss), net of tax | ' | ' | ' | ' | ' | ' | ' | ' | -185,000,000 | ' | ' | ' |
Accumulated Other Comprehensive Income Loss Net Of Tax Abstract | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accumulated Other Comprehensive Income (Loss), Net of Tax | 0 | ' | ' | ' | 185,000,000 | ' | ' | ' | 0 | 185,000,000 | 207,000,000 | 219,000,000 |
Other comprehensive income (loss) before reclassifications | ' | ' | ' | ' | ' | ' | ' | ' | -7,000,000 | -22,000,000 | -12,000,000 | ' |
Reclassifications from accumulated other comprehensive income (loss) to net earnings | ' | ' | ' | ' | ' | ' | ' | ' | -178,000,000 | 0 | 0 | ' |
Stock Based Compensation Table Detail [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock-based compensation expense, net of tax benefit | ' | ' | ' | ' | ' | ' | ' | ' | $8,000,000 | $1,000,000 | $1,000,000 | ' |
Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum Minimum [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-lived intangible asset useful life | ' | ' | ' | ' | ' | ' | ' | ' | '40 years | ' | ' | ' |
Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum Minimum [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Finite-lived intangible asset useful life | ' | ' | ' | ' | ' | ' | ' | ' | '4 years | ' | ' | ' |
Building [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum Minimum [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and equipment estimated useful life | ' | ' | ' | ' | ' | ' | ' | ' | '40 years | ' | ' | ' |
Building [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum Minimum [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and equipment estimated useful life | ' | ' | ' | ' | ' | ' | ' | ' | '20 years | ' | ' | ' |
Leasehold Improvements [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum Minimum [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Leasehold improvements estimated useful lives | ' | ' | ' | ' | ' | ' | ' | ' | 'Shorter of lease term or useful life | ' | ' | ' |
Advertising Structures [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum Minimum [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and equipment estimated useful life | ' | ' | ' | ' | ' | ' | ' | ' | '20 years | ' | ' | ' |
Advertising Structures [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum Minimum [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and equipment estimated useful life | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' |
Equipment and other (including capital leases) [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum Minimum [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and equipment estimated useful life | ' | ' | ' | ' | ' | ' | ' | ' | '20 years | ' | ' | ' |
Equipment and other (including capital leases) [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum Minimum [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and equipment estimated useful life | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets (Details) | 12 Months Ended |
Dec. 31, 2013 | |
tvmarkets | |
Impairment Testing Assumptions [Line Items] | ' |
Qualitative assessment threshold | 20.00% |
FCC Licenses Impairment Test Television Stations [Member] | ' |
Impairment Testing Assumptions [Line Items] | ' |
Number of television markets for which the qualitative assessment was performed | 10 |
Discount rate | 8.00% |
Perpetual nominal growth rate | 2.50% |
Number of television markets for which the quantitative impairment test was performed | 4 |
FCC Licenses Impairment Test Radio Stations [Member] | ' |
Impairment Testing Assumptions [Line Items] | ' |
Number of radio markets for which the qualitative assessment was performed | 8 |
Discount rate | 8.00% |
Perpetual nominal growth rate | 1.50% |
Number of radio markets for which the quantitative impairment test was performed | 18 |
Goodwill Impairment Test [Member] | ' |
Impairment Testing Assumptions [Line Items] | ' |
Number of reporting units for which the qualitative assessment was performed | 7 |
Number of reporting units for which the first step of the goodwill impairment test was performed | 2 |
Goodwill Impairment Test [Member] | CBS Interactive Reporting Unit [Member] | ' |
Impairment Testing Assumptions [Line Items] | ' |
Discount rate | 9.50% |
Perpetual nominal growth rate | 3.00% |
Goodwill Impairment Test [Member] | CBS Radio Reporting Unit [Member] | ' |
Impairment Testing Assumptions [Line Items] | ' |
Discount rate | 8.00% |
Perpetual nominal growth rate | 1.50% |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets (2) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Goodwill Rollforward [Line Items] | ' | ' | ' |
Goodwill gross | $43,102,000,000 | $43,140,000,000 | $43,388,000,000 |
Accumulated impairment losses | -34,540,000,000 | -34,573,000,000 | -34,817,000,000 |
Goodwill, net of impairment | 8,562,000,000 | 8,567,000,000 | 8,571,000,000 |
Acquisitions | 7,000,000 | 10,000,000 | ' |
Dispositions | -6,000,000 | -8,000,000 | ' |
Impairment | ' | -11,000,000 | ' |
Other | -6,000,000 | 5,000,000 | ' |
Finite-Lived Intangible Assets by Major Class [Line Items] | ' | ' | ' |
Finite-lived intangible assets, gross | 1,791,000,000 | 1,824,000,000 | ' |
Accumulated amortization | -1,193,000,000 | -1,141,000,000 | ' |
Finite-lived intangible assets, net | 598,000,000 | 683,000,000 | ' |
Indefinite Lived Intangible Assets By Major Class [Line Items] | ' | ' | ' |
Indefinite-lived intangible assets | 5,832,000,000 | 5,832,000,000 | ' |
Total intangible assets, net | 6,430,000,000 | 6,515,000,000 | ' |
Total intangible assets, gross | 7,623,000,000 | 7,656,000,000 | ' |
Amortization Expense [Abstract] | ' | ' | ' |
Amortization expense | 100,000,000 | 106,000,000 | 121,000,000 |
Aggregate annual amortization expense for existing intangible assets subject to amortization for future five years [Abstract] | ' | ' | ' |
2014 | 89,000,000 | ' | ' |
2015 | 79,000,000 | ' | ' |
2016 | 68,000,000 | ' | ' |
2017 | 43,000,000 | ' | ' |
2018 | 34,000,000 | ' | ' |
Leasehold agreements [Member] | ' | ' | ' |
Finite-Lived Intangible Assets by Major Class [Line Items] | ' | ' | ' |
Finite-lived intangible assets, gross | 894,000,000 | 889,000,000 | ' |
Accumulated amortization | -670,000,000 | -635,000,000 | ' |
Finite-lived intangible assets, net | 224,000,000 | 254,000,000 | ' |
Franchise Agreements [Member] | ' | ' | ' |
Finite-Lived Intangible Assets by Major Class [Line Items] | ' | ' | ' |
Finite-lived intangible assets, gross | 462,000,000 | 477,000,000 | ' |
Accumulated amortization | -321,000,000 | -309,000,000 | ' |
Finite-lived intangible assets, net | 141,000,000 | 168,000,000 | ' |
Trade Names [Member] | ' | ' | ' |
Finite-Lived Intangible Assets by Major Class [Line Items] | ' | ' | ' |
Finite-lived intangible assets, gross | 222,000,000 | 213,000,000 | ' |
Accumulated amortization | -42,000,000 | -28,000,000 | ' |
Finite-lived intangible assets, net | 180,000,000 | 185,000,000 | ' |
Other Intangible Assets [Member] | ' | ' | ' |
Finite-Lived Intangible Assets by Major Class [Line Items] | ' | ' | ' |
Finite-lived intangible assets, gross | 213,000,000 | 245,000,000 | ' |
Accumulated amortization | -160,000,000 | -169,000,000 | ' |
Finite-lived intangible assets, net | 53,000,000 | 76,000,000 | ' |
Goodwill Gross [Member] | ' | ' | ' |
Goodwill Rollforward [Line Items] | ' | ' | ' |
Acquisitions | 7,000,000 | 10,000,000 | ' |
Dispositions | -39,000,000 | -263,000,000 | ' |
Impairment | ' | 0 | ' |
Other | -6,000,000 | 5,000,000 | ' |
Accumulated Impairment Losses [Member] | ' | ' | ' |
Goodwill Rollforward [Line Items] | ' | ' | ' |
Acquisitions | 0 | 0 | ' |
Dispositions | 33,000,000 | 255,000,000 | ' |
Impairment | ' | -11,000,000 | ' |
Other | 0 | 0 | ' |
Operating Segments [Member] | Entertainment Segment [Member] | ' | ' | ' |
Goodwill Rollforward [Line Items] | ' | ' | ' |
Goodwill gross | 9,467,000,000 | 9,460,000,000 | 9,456,000,000 |
Accumulated impairment losses | -6,294,000,000 | -6,294,000,000 | -6,294,000,000 |
Goodwill, net of impairment | 3,173,000,000 | 3,166,000,000 | 3,162,000,000 |
Acquisitions | 7,000,000 | 4,000,000 | ' |
Dispositions | 0 | 0 | ' |
Impairment | ' | 0 | ' |
Other | 0 | 0 | ' |
Operating Segments [Member] | Entertainment Segment [Member] | Goodwill Gross [Member] | ' | ' | ' |
Goodwill Rollforward [Line Items] | ' | ' | ' |
Acquisitions | 7,000,000 | 4,000,000 | ' |
Dispositions | 0 | 0 | ' |
Impairment | ' | 0 | ' |
Other | 0 | 0 | ' |
Operating Segments [Member] | Entertainment Segment [Member] | Accumulated Impairment Losses [Member] | ' | ' | ' |
Goodwill Rollforward [Line Items] | ' | ' | ' |
Acquisitions | 0 | 0 | ' |
Dispositions | 0 | 0 | ' |
Impairment | ' | 0 | ' |
Other | 0 | 0 | ' |
Operating Segments [Member] | Cable Networks Segment [Member] | ' | ' | ' |
Goodwill Rollforward [Line Items] | ' | ' | ' |
Goodwill gross | 480,000,000 | 480,000,000 | 480,000,000 |
Accumulated impairment losses | 0 | 0 | 0 |
Goodwill, net of impairment | 480,000,000 | 480,000,000 | 480,000,000 |
Acquisitions | 0 | 0 | ' |
Dispositions | 0 | 0 | ' |
Impairment | ' | 0 | ' |
Other | 0 | 0 | ' |
Operating Segments [Member] | Cable Networks Segment [Member] | Goodwill Gross [Member] | ' | ' | ' |
Goodwill Rollforward [Line Items] | ' | ' | ' |
Acquisitions | 0 | 0 | ' |
Dispositions | 0 | 0 | ' |
Impairment | ' | 0 | ' |
Other | 0 | 0 | ' |
Operating Segments [Member] | Cable Networks Segment [Member] | Accumulated Impairment Losses [Member] | ' | ' | ' |
Goodwill Rollforward [Line Items] | ' | ' | ' |
Acquisitions | 0 | 0 | ' |
Dispositions | 0 | 0 | ' |
Impairment | ' | 0 | ' |
Other | 0 | 0 | ' |
Operating Segments [Member] | Publishing Segment [Member] | ' | ' | ' |
Goodwill Rollforward [Line Items] | ' | ' | ' |
Goodwill gross | 406,000,000 | 407,000,000 | 407,000,000 |
Accumulated impairment losses | 0 | 0 | 0 |
Goodwill, net of impairment | 406,000,000 | 407,000,000 | 407,000,000 |
Acquisitions | 0 | 0 | ' |
Dispositions | 0 | 0 | ' |
Impairment | ' | 0 | ' |
Other | -1,000,000 | 0 | ' |
Operating Segments [Member] | Publishing Segment [Member] | Goodwill Gross [Member] | ' | ' | ' |
Goodwill Rollforward [Line Items] | ' | ' | ' |
Acquisitions | 0 | 0 | ' |
Dispositions | 0 | 0 | ' |
Impairment | ' | 0 | ' |
Other | -1,000,000 | 0 | ' |
Operating Segments [Member] | Publishing Segment [Member] | Accumulated Impairment Losses [Member] | ' | ' | ' |
Goodwill Rollforward [Line Items] | ' | ' | ' |
Acquisitions | 0 | 0 | ' |
Dispositions | 0 | 0 | ' |
Impairment | ' | 0 | ' |
Other | 0 | 0 | ' |
Operating Segments [Member] | Local Broadcasting Segment [Member] | ' | ' | ' |
Goodwill Rollforward [Line Items] | ' | ' | ' |
Goodwill gross | 23,209,000,000 | 23,209,000,000 | 23,466,000,000 |
Accumulated impairment losses | -20,572,000,000 | -20,572,000,000 | -20,816,000,000 |
Goodwill, net of impairment | 2,637,000,000 | 2,637,000,000 | 2,650,000,000 |
Acquisitions | 0 | 6,000,000 | ' |
Dispositions | 0 | -8,000,000 | ' |
Impairment | ' | -11,000,000 | ' |
Other | 0 | 0 | ' |
Operating Segments [Member] | Local Broadcasting Segment [Member] | Goodwill Gross [Member] | ' | ' | ' |
Goodwill Rollforward [Line Items] | ' | ' | ' |
Acquisitions | 0 | 6,000,000 | ' |
Dispositions | 0 | -263,000,000 | ' |
Impairment | ' | 0 | ' |
Other | 0 | 0 | ' |
Operating Segments [Member] | Local Broadcasting Segment [Member] | Accumulated Impairment Losses [Member] | ' | ' | ' |
Goodwill Rollforward [Line Items] | ' | ' | ' |
Acquisitions | 0 | 0 | ' |
Dispositions | 0 | 255,000,000 | ' |
Impairment | ' | -11,000,000 | ' |
Other | 0 | 0 | ' |
Operating Segments [Member] | Outdoor Americas Segment [Member] | ' | ' | ' |
Goodwill Rollforward [Line Items] | ' | ' | ' |
Goodwill gross | 9,540,000,000 | 9,584,000,000 | 9,579,000,000 |
Accumulated impairment losses | -7,674,000,000 | -7,707,000,000 | -7,707,000,000 |
Goodwill, net of impairment | 1,866,000,000 | 1,877,000,000 | 1,872,000,000 |
Acquisitions | 0 | 0 | ' |
Dispositions | -6,000,000 | 0 | ' |
Impairment | ' | 0 | ' |
Other | -5,000,000 | 5,000,000 | ' |
Operating Segments [Member] | Outdoor Americas Segment [Member] | Goodwill Gross [Member] | ' | ' | ' |
Goodwill Rollforward [Line Items] | ' | ' | ' |
Acquisitions | 0 | 0 | ' |
Dispositions | -39,000,000 | 0 | ' |
Impairment | ' | 0 | ' |
Other | -5,000,000 | 5,000,000 | ' |
Operating Segments [Member] | Outdoor Americas Segment [Member] | Accumulated Impairment Losses [Member] | ' | ' | ' |
Goodwill Rollforward [Line Items] | ' | ' | ' |
Acquisitions | 0 | 0 | ' |
Dispositions | 33,000,000 | 0 | ' |
Impairment | ' | 0 | ' |
Other | $0 | $0 | ' |
Discontinued_Operations_Detail
Discontinued Operations (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 |
Discontinued Operations Details [Abstract] | ' | ' | ' | ' |
Sale price of Outdoor Europe | ' | ' | ' | $225 |
After tax charge associated with disposition of Outdoor Europe | 110 | ' | ' | ' |
Noncurrent liabilities of discontinued operations | 148 | 172 | ' | ' |
Estimated fair value of guarantees | 40 | ' | ' | ' |
Discontinued Operations [Line Items] | ' | ' | ' | ' |
Revenues from discontinued operations | 401 | 588 | 608 | ' |
Earnings (loss) from discontinued operations, net of tax [Abstract] | ' | ' | ' | ' |
Loss from discontinued operations | -247 | -78 | -73 | ' |
Income tax benefit (provision) | 100 | 18 | -13 | ' |
Loss from discontinued operations, net of tax | -147 | -60 | -86 | ' |
Gain on disposal, net ot tax | ' | ' | ' | ' |
Gain on disposal | 159 | 0 | 0 | ' |
Income tax provision on disposal | -6 | 0 | 0 | ' |
Gain on disposal, net of tax | 153 | 0 | 0 | ' |
Net earnings (loss) from discontinued operations, net of tax | 6 | -60 | -86 | ' |
Noncurrent assets, discontinued operations [Abstract] | ' | ' | ' | ' |
Noncurrent assets of discontinued operations | 82 | 260 | ' | ' |
Net property and equipment, discontinued operations | ' | 103 | ' | ' |
Goodwill, discontinued operations | ' | $49 | ' | ' |
Restructuring_Charges_Details
Restructuring Charges (Details) (USD $) | 12 Months Ended | 36 Months Ended | 12 Months Ended | 24 Months Ended | 36 Months Ended | 12 Months Ended | 24 Months Ended | 36 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 |
Severance Costs [Member] | Severance Costs [Member] | Severance Costs [Member] | Contract Termination and Other Associated Costs [Member] | Contract Termination and Other Associated Costs [Member] | Contract Termination and Other Associated Costs [Member] | |||||
Restructuring and Related Cost [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring charges | $20 | $19 | $43 | ' | $14 | $22 | ' | $6 | $40 | ' |
Cumulative amount paid since restructuring activities began | $30 | $26 | ' | $57 | ' | ' | $23 | ' | ' | $34 |
Restructuring_Charges_Rollforw
Restructuring Charges (Rollforward) (Details) (USD $) | 12 Months Ended | 36 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 |
Restructuring reserves [Line Items] | ' | ' | ' | ' |
Restructuring reserve, beginning balance | $35 | $42 | ' | ' |
Restructuring charges | 20 | 19 | 43 | ' |
Payments to settle restructuring reserves | -30 | -26 | ' | -57 |
Restructuring reserve, ending balance | 25 | 35 | 42 | 25 |
Operating Segments [Member] | Entertainment Segment [Member] | ' | ' | ' | ' |
Restructuring reserves [Line Items] | ' | ' | ' | ' |
Restructuring reserve, beginning balance | 25 | 40 | ' | ' |
Restructuring charges | 12 | 7 | ' | ' |
Payments to settle restructuring reserves | -23 | -22 | ' | ' |
Restructuring reserve, ending balance | 14 | 25 | ' | 14 |
Operating Segments [Member] | Cable Networks Segment [Member] | ' | ' | ' | ' |
Restructuring reserves [Line Items] | ' | ' | ' | ' |
Restructuring reserve, beginning balance | 0 | ' | ' | ' |
Restructuring charges | 1 | ' | ' | ' |
Payments to settle restructuring reserves | 0 | ' | ' | ' |
Restructuring reserve, ending balance | 1 | ' | ' | 1 |
Operating Segments [Member] | Publishing Segment [Member] | ' | ' | ' | ' |
Restructuring reserves [Line Items] | ' | ' | ' | ' |
Restructuring reserve, beginning balance | 2 | 1 | ' | ' |
Restructuring charges | 1 | 3 | ' | ' |
Payments to settle restructuring reserves | -2 | -2 | ' | ' |
Restructuring reserve, ending balance | 1 | 2 | ' | 1 |
Operating Segments [Member] | Local Broadcasting Segment [Member] | ' | ' | ' | ' |
Restructuring reserves [Line Items] | ' | ' | ' | ' |
Restructuring reserve, beginning balance | 7 | 0 | ' | ' |
Restructuring charges | 5 | 8 | ' | ' |
Payments to settle restructuring reserves | -4 | -1 | ' | ' |
Restructuring reserve, ending balance | 8 | 7 | ' | 8 |
Operating Segments [Member] | Outdoor Americas Segment [Member] | ' | ' | ' | ' |
Restructuring reserves [Line Items] | ' | ' | ' | ' |
Restructuring reserve, beginning balance | ' | 1 | ' | ' |
Restructuring charges | ' | 0 | ' | ' |
Payments to settle restructuring reserves | ' | -1 | ' | ' |
Restructuring reserve, ending balance | ' | 0 | ' | ' |
Corporate [Member] | ' | ' | ' | ' |
Restructuring reserves [Line Items] | ' | ' | ' | ' |
Restructuring reserve, beginning balance | 1 | 0 | ' | ' |
Restructuring charges | 1 | 1 | ' | ' |
Payments to settle restructuring reserves | -1 | 0 | ' | ' |
Restructuring reserve, ending balance | $1 | $1 | ' | $1 |
Programming_and_Other_Inventor2
Programming and Other Inventory (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Programming and Other Inventory Details [Abstract] | ' | ' |
Program rights | $1,331 | $1,389 |
Television programming: | ' | ' |
Released (including acquired libraries) | 878 | 781 |
In process and other | 139 | 128 |
Theatrical programming: | ' | ' |
Released theatrical programming | 37 | 25 |
In process and other theatrical programming | 32 | 60 |
Publishing, primarily finished goods | 51 | 57 |
Other | 1 | 1 |
Total programming and other inventory | 2,469 | 2,441 |
Less current portion | 772 | 859 |
Total noncurrent programming and other inventory | $1,697 | $1,582 |
Related_Parties_Details
Related Parties (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
National Amusements Inc. [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
NAI ownership of CBS Corp. Class A common stock (percentage) | 79.60% | ' | ' |
NAI ownership of CBS Corp. Class A and Class B common stock on a combined basis (percentage) | 6.70% | ' | ' |
Viacom Inc. [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Revenues from transactions with related parties | $195 | $221 | $255 |
Expenses from transactions with related party | 21 | 26 | 23 |
Receivables, Viacom | 84 | 124 | ' |
Other assets (Receivables, noncurrent), Viacom | 115 | 133 | ' |
Total amounts due from related parties | 199 | 257 | ' |
Equity Method Investee [Member] | ' | ' | ' |
Related Party Transaction [Line Items] | ' | ' | ' |
Revenues from transactions with related parties | $111 | $160 | $133 |
Investments_Details
Investments (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Equity Method Investee Ownership Percentage [Line Items] | ' | ' | ' |
Equity method investments | $212 | $118 | ' |
Cost method investments aggregate carrying amount | 16 | 10 | ' |
Aggregate market value of available-for-sale investments | 7 | 9 | ' |
Investments in and advances to investee companies | 176 | 91 | 79 |
Dispositions [Line Items] | ' | ' | ' |
Disposition | 193 | 49 | 18 |
Transit Shelter Operations [Member] | ' | ' | ' |
Dispositions [Line Items] | ' | ' | ' |
Disposition | $17 | ' | ' |
The C W [Member] | Equity Method Investee [Member] | ' | ' | ' |
Equity Method Investee Ownership Percentage [Line Items] | ' | ' | ' |
Equity method investment ownership percentage | 50.00% | ' | ' |
TV Guide Network [Member] | Equity Method Investee [Member] | ' | ' | ' |
Equity Method Investee Ownership Percentage [Line Items] | ' | ' | ' |
Equity method investment ownership percentage | 50.00% | ' | ' |
Out of Home Advertising Company Los Angeles [Member] | Equity Method Investee [Member] | ' | ' | ' |
Equity Method Investee Ownership Percentage [Line Items] | ' | ' | ' |
Equity method investment ownership percentage | 50.00% | ' | ' |
Out of Home Advertising Company Vancouver Canada [Member] | Equity Method Investee [Member] | ' | ' | ' |
Equity Method Investee Ownership Percentage [Line Items] | ' | ' | ' |
Equity method investment ownership percentage | 50.00% | ' | ' |
AMC Networks Inc JV [Member] | Equity Method Investee [Member] | ' | ' | ' |
Equity Method Investee Ownership Percentage [Line Items] | ' | ' | ' |
Equity method investment ownership percentage | 49.00% | ' | ' |
Number of channels owned and operated by joint venture | 6 | ' | ' |
AMC Networks Inc Other JV [Member] | Equity Method Investee [Member] | ' | ' | ' |
Equity Method Investee Ownership Percentage [Line Items] | ' | ' | ' |
Equity method investment ownership percentage | 30.00% | ' | ' |
Number of channels owned and operated by joint venture | 9 | ' | ' |
Ten Network Holdings Limited JV [Member] | Equity Method Investee [Member] | ' | ' | ' |
Equity Method Investee Ownership Percentage [Line Items] | ' | ' | ' |
Equity method investment ownership percentage | 33.00% | ' | ' |
RTL Group JV [Member] | Equity Method Investee [Member] | ' | ' | ' |
Equity Method Investee Ownership Percentage [Line Items] | ' | ' | ' |
Equity method investment ownership percentage | 30.00% | ' | ' |
Number of channels owned and operated by joint venture | 2 | ' | ' |
Bank_Financing_and_Debt_Detail
Bank Financing and Debt (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Bank financing and debt details [Abstract] | ' | ' | ' |
Obligations under capital leases | $113,000,000 | $72,000,000 | ' |
Less current portion | 21,000,000 | 18,000,000 | ' |
Total long-term debt from continuing operations, net of current portion | 5,940,000,000 | 5,904,000,000 | ' |
Net unamortized discount on senior debt | 13,000,000 | 16,000,000 | ' |
Increase in the carrying value of debt relating to previously settled fair value hedges | 18,000,000 | 23,000,000 | ' |
Debt due within one year reflecting intent and ability to refinance on a long-term basis | 99,000,000 | ' | ' |
Debt repurchases | ' | 1,590,000,000 | ' |
Net loss on early extinguishment of debt | 0 | 32,000,000 | 0 |
Debt Instrument [Line Items] | ' | ' | ' |
Commercial paper | 475,000,000 | 0 | ' |
Carrying value of senior debt | 5,860,000,000 | 5,860,000,000 | ' |
Face value of debt | 6,440,000,000 | 5,930,000,000 | ' |
Total Debt [Line Items] | ' | ' | ' |
Total debt | 6,449,000,000 | 5,935,000,000 | ' |
Long Term Debt By Maturity Abstract | ' | ' | ' |
2014 | 99,000,000 | ' | ' |
2015 | 0 | ' | ' |
2016 | 200,000,000 | ' | ' |
2017 | 400,000,000 | ' | ' |
2018 | 300,000,000 | ' | ' |
2019 and thereafter | 4,857,000,000 | ' | ' |
Continuing Operations [Member] | ' | ' | ' |
Total Debt [Line Items] | ' | ' | ' |
Total debt | 6,436,000,000 | 5,922,000,000 | ' |
Discontinued Operations [Member] | ' | ' | ' |
Total Debt [Line Items] | ' | ' | ' |
Total debt | 13,000,000 | 13,000,000 | ' |
Notes 2014 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Carrying value of senior debt | 99,000,000 | 100,000,000 | ' |
Stated interest rate | 8.88% | ' | ' |
Senior Debentures 2016 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Carrying value of senior debt | 200,000,000 | 200,000,000 | ' |
Stated interest rate | 7.63% | ' | ' |
Senior Notes 2017 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Carrying value of senior debt | 397,000,000 | 396,000,000 | ' |
Stated interest rate | 1.95% | ' | ' |
Senior Notes 2018 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Carrying value of senior debt | 317,000,000 | 321,000,000 | ' |
Stated interest rate | 4.63% | ' | ' |
Senior Notes 2019 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Carrying value of senior debt | 592,000,000 | 591,000,000 | ' |
Stated interest rate | 8.88% | ' | ' |
Senior Notes 2020 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Carrying value of senior debt | 500,000,000 | 500,000,000 | ' |
Stated interest rate | 5.75% | ' | ' |
Senior Notes 2021 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Carrying value of senior debt | 300,000,000 | 300,000,000 | ' |
Stated interest rate | 4.30% | ' | ' |
Senior Notes 2022 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Carrying value of senior debt | 695,000,000 | 694,000,000 | ' |
Stated interest rate | 3.38% | ' | ' |
Debentures 2023 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Carrying value of senior debt | 224,000,000 | 224,000,000 | ' |
Stated interest rate | 7.88% | ' | ' |
Senior Notes 2023 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Carrying value of senior debt | 52,000,000 | 52,000,000 | ' |
Stated interest rate | 7.13% | ' | ' |
Senior Debentures 2030 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Carrying value of senior debt | 1,270,000,000 | 1,271,000,000 | ' |
Stated interest rate | 7.88% | ' | ' |
Senior Debentures 2033 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Carrying value of senior debt | 428,000,000 | 428,000,000 | ' |
Stated interest rate | 5.50% | ' | ' |
Senior Notes 2040 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Carrying value of senior debt | 299,000,000 | 299,000,000 | ' |
Stated interest rate | 5.90% | ' | ' |
Senior Notes 2042 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Carrying value of senior debt | 488,000,000 | 487,000,000 | ' |
Stated interest rate | 4.85% | ' | ' |
Senior Notes Issuances in 2012 [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Face value of debt | ' | $1,600,000,000 | ' |
Bank_Financing_and_Debt_Credit
Bank Financing and Debt (Credit Facility) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Revolving Credit Facility [Member] | ' |
Credit Facility [Line Items] | ' |
Borrowings outstanding | 0 |
Availability under the credit facility | 1,990,000,000 |
Maximum borrowing capacity under the credit facility | 2,000,000,000 |
Commercial Paper [Member] | ' |
Credit Facility [Line Items] | ' |
Borrowings outstanding | 475,000,000 |
Maximum borrowing capacity under the credit facility | 2,000,000,000 |
Weighted average interest rate | 0.30% |
Maximum Consolidated Leverage Ratio [Member] | ' |
Debt Covenants [Line Items] | ' |
Credit facility covenant description | '4.5x |
Consolidated Leverage Ratio [Member] | ' |
Debt Covenants [Line Items] | ' |
Credit facility covenant compliance | '1.6x |
Bank_Financing_and_Debt_Outdoo
Bank Financing and Debt (Outdoor Americas Indebtedness) (Details) (USD $) | 12 Months Ended | 3 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Mar. 31, 2014 | Jan. 31, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Feb. 14, 2014 | Jan. 31, 2014 | Jan. 31, 2014 | Dec. 31, 2013 | Jan. 31, 2014 | Jan. 31, 2014 | Jan. 31, 2014 | |
Revolving Credit Facility [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | ||||
Outdoor Americas Segment [Member] | Outdoor Americas Segment [Member] | Outdoor Americas Segment [Member] | Outdoor Americas Segment [Member] | Outdoor Americas Segment [Member] | Outdoor Americas Segment [Member] | Outdoor Americas Segment [Member] | Outdoor Americas Segment [Member] | Outdoor Americas Segment [Member] | Outdoor Americas Segment [Member] | Outdoor Americas Segment [Member] | |||||
Use Of Debt Proceeds [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Senior Notes [Member] | Term Loan Due 2021 [Member] | Term Loan Due 2021 [Member] | Senior Notes Due 2022 [Member] | Senior Notes Due 2024 [Member] | |||||||
Outdoor Indebtedness [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Face value of debt | $6,440,000,000 | $5,930,000,000 | ' | ' | ' | $1,600,000,000 | ' | ' | ' | ' | $800,000,000 | ' | $800,000,000 | $400,000,000 | $400,000,000 |
Stated interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.00% | 5.25% | 5.63% |
Reference rate for term loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2.25% | ' | ' | ' |
Adjustment to term loan reference rate to arrive at effective rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'plus the greater of LIBOR or 0.75% | ' | ' | ' |
Maximum borrowing capacity under the credit facility | ' | ' | ' | 2,000,000,000 | ' | ' | ' | ' | ' | 425,000,000 | ' | ' | ' | ' | ' |
Borrowings outstanding | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' |
Credit facility covenant description | ' | ' | ' | ' | ' | ' | ' | 'The Outdoor Revolving Credit Facility requires Outdoor Americas to maintain a maximum Consolidated Net Secured Leverage Ratio of 3.50 to 1.00, which will be increased to 4.00 to 1.00 if Outdoor Americas elects to be taxed as a REIT. | ' | ' | ' | ' | ' | ' | ' |
Maximum adjustment to unrestricted cash to calculate compliance with Net Secured Leverage Ratio requirement | ' | ' | ' | ' | ' | ' | ' | ' | ' | 150,000,000 | ' | ' | ' | ' | ' |
Purchase of company stock | 2,185,000,000 | 1,137,000,000 | 1,012,000,000 | ' | ' | ' | 1,500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Cash retained from debt proceeds by Outdoor Americas | ' | ' | ' | ' | $50,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financial_Instruments_Details
Financial Instruments (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Jan. 31, 2014 | Jan. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Commercial Paper [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Other Items Net [Member] | Other Items Net [Member] | Other Items Net [Member] | Cash Flow Hedge [Member] | Cash Flow Hedge [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | Not Designated as Hedging Instrument [Member] | |||
Outdoor Americas Segment [Member] | Outdoor Americas Segment [Member] | Other Current Liabilities [Member] | Other Current Liabilities [Member] | Other Current Assets [Member] | Other Current Assets [Member] | |||||||||
Term Loan Due 2021 [Member] | Cash Flow Hedge [Member] | Cash Flow Hedge [Member] | Cash Flow Hedge [Member] | Cash Flow Hedge [Member] | ||||||||||
Financial Instruments Details [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Carrying value of senior debt | $5,860,000,000 | $5,860,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of senior debt | 6,690,000,000 | 7,160,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notional amount of all foreign currency contracts | ' | ' | ' | ' | ' | ' | ' | ' | 136,000,000 | 157,000,000 | ' | ' | ' | ' |
Fair value of foreign exchange contracts, assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,000,000 | 0 |
Fair value of foreign exchange contracts, liabilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,000,000 | 2,000,000 | ' | ' |
Gains (losses) recognized on derivative financial instruments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-designated hedging instruments | ' | ' | ' | ' | ' | 2,000,000 | -4,000,000 | 2,000,000 | ' | ' | ' | ' | ' | ' |
Interest Rate Risk [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Face value of debt | 6,440,000,000 | 5,930,000,000 | ' | 1,600,000,000 | 800,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stated interest rate | ' | ' | ' | ' | 3.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commercial paper | $475,000,000 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average interest rate | ' | ' | 0.30% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Assets: | ' | ' |
Investments | $83 | $70 |
Foreign currency hedges | 3 | ' |
Total Assets | 86 | 70 |
Liabilities: | ' | ' |
Deferred compensation | 268 | 201 |
Guarantees | 40 | ' |
Foreign currency hedges | 4 | 2 |
Total Liabilities | 312 | 203 |
Pre-tax charge included in net earnings (loss) of discontinued operations for the estimated fair value of guarantees | 40 | ' |
Level 1 [Member] | ' | ' |
Assets: | ' | ' |
Investments | 83 | 70 |
Foreign currency hedges | 0 | ' |
Total Assets | 83 | 70 |
Liabilities: | ' | ' |
Deferred compensation | 0 | 0 |
Guarantees | 0 | ' |
Foreign currency hedges | 0 | 0 |
Total Liabilities | 0 | 0 |
Level 2 [Member] | ' | ' |
Assets: | ' | ' |
Investments | 0 | 0 |
Foreign currency hedges | 3 | ' |
Total Assets | 3 | 0 |
Liabilities: | ' | ' |
Deferred compensation | 268 | 201 |
Guarantees | 0 | ' |
Foreign currency hedges | 4 | 2 |
Total Liabilities | 272 | 203 |
Level 3 [Member] | ' | ' |
Assets: | ' | ' |
Investments | 0 | 0 |
Foreign currency hedges | 0 | ' |
Total Assets | 0 | 0 |
Liabilities: | ' | ' |
Deferred compensation | 0 | 0 |
Guarantees | 40 | ' |
Foreign currency hedges | 0 | 0 |
Total Liabilities | $40 | $0 |
Stockholders_Equity_Narrative_
Stockholders' Equity (Narrative) (Details) (USD $) | 12 Months Ended | 36 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | |
Stockholders' Equity Details [Abstract] | ' | ' | ' | ' |
Dividends | $295,000,000 | $287,000,000 | $237,000,000 | ' |
Class B Common Stock purchased, value | 2,201,000,000 | ' | ' | 4,390,000,000 |
Average price per share repurchased (in dollars per share) | $48.03 | ' | ' | $35.54 |
Class B Common Stock purchased, shares | 45,800,000 | ' | ' | 123,500,000 |
Remaining authorization under repurchase program | $5,430,000,000 | ' | ' | ' |
Minimum Class A shares needed for conversion | 5,000 | ' | ' | 5,000 |
Conversion of A shares into B shares, in shares | 4,000,000 | 300,000 | 200,000 | ' |
Number of shares available for future grant under equity incentive plans | 61,000,000 | ' | ' | 61,000,000 |
Stockholders_Equity_Rollforwar
Stockholders' Equity (Rollforward of RSUs and PSUs) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
RSU and target PSU rollforward | ' |
Non-vested (shares), beginning balance | 13,300,969 |
Granted (shares) | 4,150,247 |
Vested (shares) | -7,355,952 |
Forfeited (shares) | -576,040 |
Non-vested (shares), ending balance | 9,519,224 |
Weighted Average Grant Date Fair Value [Abstract] | ' |
Non-vested, beginning balance | $19.89 |
Granted | $40.70 |
Vested | $16.32 |
Forfeited | $28.54 |
Non-vested, ending balance | $31.20 |
Stockholders_Equity_BlackSchol
Stockholder's Equity (Black-Scholes Assumptions) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Stockholders' Equity Details [Abstract] | ' | ' | ' |
Weighted average grant date fair value of stock options | $12.11 | $9.05 | $7.59 |
Expected dividend yield | 1.49% | 1.92% | 2.00% |
Expected stock price volatility | 34.86% | 39.09% | 41.17% |
Risk-free interest rate | 0.97% | 0.94% | 2.33% |
Expected term of options (years) | '5 years | '5 years | '5 years 1 month |
Stockholders_Equity_Stock_Opti
Stockholders' Equity (Stock Option Rollforward) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Stock Option Rollforward | ' |
Outstanding (shares), beginning balance | 34,033,101 |
Granted (shares) | 2,750,085 |
Exercised (shares) | -7,710,210 |
Forfeited or expired (shares) | -1,098,349 |
Outstanding (shares), ending balance | 27,974,627 |
Stock options exercisable | 18,139,203 |
Weighted Average Exercise Price Of Options [Abstract] | ' |
Outstanding, beginning balance | $21.96 |
Granted | $44.30 |
Exercised | $18.66 |
Forfeited or expired | $29.19 |
Outstanding, ending balance | $24.78 |
Stock options exercisable, weighted average exercise price | $22.25 |
Stockholders_Equity_Other_Info
Stockholders' Equity (Other Information) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Stock-based compensation by award type [Line Items] | ' | ' | ' |
Aggregate fair value of RSUs and PSUs vested during the period | $324 | $251 | $198 |
Unrecognized Stock Based Compensation [Abstract] | ' | ' | ' |
Unrecognized future expense of unvested options | 56 | ' | ' |
Unrecognized future expense of unvested RSUs and PSUs | 176 | ' | ' |
Stock Options And Equivalents [Abstract] | ' | ' | ' |
Stock Option Equivalents Outstanding | 2 | 2 | ' |
Stock Option Exercises Information [Abstract] | ' | ' | ' |
Cash received from stock option exercises | 146 | 168 | 72 |
Tax benefit of stock option exercises | 88 | 67 | 45 |
Intrinsic value from stock option exercises | $229 | $174 | $117 |
Employee Stock Option [Member] | ' | ' | ' |
Stock-based compensation by award type [Line Items] | ' | ' | ' |
Stock option term until expiration | '8 years | ' | ' |
Unrecognized Stock Based Compensation [Abstract] | ' | ' | ' |
Weighted average future expense period of unrecognized stock-based compensation expense (years) | '2 years 5 months | ' | ' |
Employee Stock Option [Member] | Maximum [Member] | ' | ' | ' |
Stock-based compensation by award type [Line Items] | ' | ' | ' |
Service period over which grants vest | '4 years | ' | ' |
Employee Stock Option [Member] | Minimum [Member] | ' | ' | ' |
Stock-based compensation by award type [Line Items] | ' | ' | ' |
Service period over which grants vest | '1 year | ' | ' |
Restricted Stock Units [Member] | ' | ' | ' |
Unrecognized Stock Based Compensation [Abstract] | ' | ' | ' |
Weighted average future expense period of unrecognized stock-based compensation expense (years) | '2 years 2 months | ' | ' |
Restricted Stock Units [Member] | Maximum [Member] | ' | ' | ' |
Stock-based compensation by award type [Line Items] | ' | ' | ' |
Service period over which grants vest | '4 years | ' | ' |
Restricted Stock Units [Member] | Minimum [Member] | ' | ' | ' |
Stock-based compensation by award type [Line Items] | ' | ' | ' |
Service period over which grants vest | '1 year | ' | ' |
Performance share units [Member] | ' | ' | ' |
Stock-based compensation by award type [Line Items] | ' | ' | ' |
Measurement period | '3 years | ' | ' |
Performance share units [Member] | Maximum [Member] | ' | ' | ' |
Stock-based compensation by award type [Line Items] | ' | ' | ' |
Payout on stock-based compensation award (percent) | 300.00% | ' | ' |
Service period over which grants vest | '4 years | ' | ' |
Performance share units [Member] | Minimum [Member] | ' | ' | ' |
Stock-based compensation by award type [Line Items] | ' | ' | ' |
Payout on stock-based compensation award (percent) | 0.00% | ' | ' |
Service period over which grants vest | '3 years | ' | ' |
Stockholders_Equity_Stock_Opti1
Stockholders' Equity (Stock Options Outstanding and Exercisable by Exercise Price) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Stock Options Outstanding And Exercisable By Exercise Price Range [Line Items] | ' |
Number of stock options outstanding | 27,974,627 |
Number of stock options exercisable | 18,139,203 |
Outstanding stock options, weighted average remaining contractual life (years) | '4 years |
Intrinsic value of stock options outstanding | $1,090,000,000 |
Exercisable stock options, weighted average remaining contractual life (years) | '3 years |
Intrinsic value of stock options exercisable | $753,000,000 |
Company stock price | $63.74 |
$5 to $9.99 [Member] | ' |
Stock Options Outstanding And Exercisable By Exercise Price Range [Line Items] | ' |
Exercise price range, lower range limit | $5 |
Exercise price range, upper range limit | $9.99 |
Number of stock options outstanding | 2,854,741 |
Number of stock options exercisable | 2,854,741 |
Stock options outstanding, weighted average exercise price | $5.22 |
Stock options exercisable, weighted average exercise price | $5.22 |
Outstanding stock options, weighted average remaining contractual life (years) | '3 years 2 months |
$10 to $19.99 [Member] | ' |
Stock Options Outstanding And Exercisable By Exercise Price Range [Line Items] | ' |
Exercise price range, lower range limit | $10 |
Exercise price range, upper range limit | $19.99 |
Number of stock options outstanding | 4,182,323 |
Number of stock options exercisable | 2,662,606 |
Stock options outstanding, weighted average exercise price | $13.80 |
Stock options exercisable, weighted average exercise price | $13.94 |
Outstanding stock options, weighted average remaining contractual life (years) | '3 years 11 months |
$20 to $29.99 [Member] | ' |
Stock Options Outstanding And Exercisable By Exercise Price Range [Line Items] | ' |
Exercise price range, lower range limit | $20 |
Exercise price range, upper range limit | $29.99 |
Number of stock options outstanding | 15,104,406 |
Number of stock options exercisable | 10,009,437 |
Stock options outstanding, weighted average exercise price | $26.47 |
Stock options exercisable, weighted average exercise price | $26.81 |
Outstanding stock options, weighted average remaining contractual life (years) | '3 years 9 months |
$30 to $39.99 [Member] | ' |
Stock Options Outstanding And Exercisable By Exercise Price Range [Line Items] | ' |
Exercise price range, lower range limit | $30 |
Exercise price range, upper range limit | $39.99 |
Number of stock options outstanding | 3,110,305 |
Number of stock options exercisable | 2,595,311 |
Stock options outstanding, weighted average exercise price | $32.23 |
Stock options exercisable, weighted average exercise price | $31.79 |
Outstanding stock options, weighted average remaining contractual life (years) | '3 years 4 months |
$40 to $49.99 [Member] | ' |
Stock Options Outstanding And Exercisable By Exercise Price Range [Line Items] | ' |
Exercise price range, lower range limit | $40 |
Exercise price range, upper range limit | $49.99 |
Number of stock options outstanding | 2,664,447 |
Number of stock options exercisable | 17,108 |
Stock options outstanding, weighted average exercise price | $44.05 |
Stock options exercisable, weighted average exercise price | $43.21 |
Outstanding stock options, weighted average remaining contractual life (years) | '7 years 2 months |
$50 to $59.99 [Member] | ' |
Stock Options Outstanding And Exercisable By Exercise Price Range [Line Items] | ' |
Exercise price range, lower range limit | $50 |
Exercise price range, upper range limit | $59.99 |
Number of stock options outstanding | 58,405 |
Number of stock options exercisable | 0 |
Stock options outstanding, weighted average exercise price | $57.37 |
Stock options exercisable, weighted average exercise price | $0 |
Outstanding stock options, weighted average remaining contractual life (years) | '7 years 9 months |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings (loss) from continuing operations before income taxes and equity in loss of investee companies [Abstract] | ' | ' | ' |
United States | $2,518 | $2,236 | $1,878 |
Foreign | 379 | 325 | 301 |
Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of investee companies | 2,897 | 2,561 | 2,179 |
Current Income Tax Expense Benefit Continuing Operations [Abstract] | ' | ' | ' |
Current federal income tax expense provision (benefit) | 395 | 307 | 190 |
Current state and local income tax expense provision (benefit) | 92 | 76 | 52 |
Current foreign income tax expense provision (benefit) | 66 | 67 | 57 |
Total current income tax expense provision (benefit) | 553 | 450 | 299 |
Deferred tax provision (benefit) | 425 | 442 | 452 |
Provision (benefit) for income taxes | 978 | 892 | 751 |
Provision (benefit) for income taxes for discontinued operations | -94 | -18 | 13 |
Tax benefit relating to losses from equity investments | 29 | 22 | 24 |
Effective tax rate on equity investments | 38.80% | 38.80% | 38.80% |
Income tax benefit realized from stock option exercises and RSU vests | $210 | $163 | ' |
Income_Taxes_2_Details
Income Taxes 2 (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Reconciliation to US Federal Statutory Income Tax Rate | ' | ' | ' |
Taxes on income at U.S. federal statutory rate | $1,014,000,000 | $896,000,000 | $763,000,000 |
State and local taxes, net of federal tax benefit | 111,000,000 | 92,000,000 | 82,000,000 |
Effect of foreign operations | -88,000,000 | -64,000,000 | -73,000,000 |
Audit settlements, net | -17,000,000 | -3,000,000 | -6,000,000 |
Other, net | -42,000,000 | -29,000,000 | -15,000,000 |
Provision (benefit) for income taxes | 978,000,000 | 892,000,000 | 751,000,000 |
Deferred income tax assets: | ' | ' | ' |
Provision for expenses and losses | 721,000,000 | 801,000,000 | ' |
Pension, postretirement and other employee benefits | 431,000,000 | 641,000,000 | ' |
Tax credit and loss carryforwards | 679,000,000 | 284,000,000 | ' |
Deferred income tax assets other | 166,000,000 | 136,000,000 | ' |
Total deferred income tax assets | 1,997,000,000 | 1,862,000,000 | ' |
Deferred tax assets valuation allowance | -644,000,000 | -249,000,000 | ' |
Net deferred income tax assets | 1,353,000,000 | 1,613,000,000 | ' |
Deferred tax liabilities: | ' | ' | ' |
Intangible assets | -2,072,000,000 | -1,995,000,000 | ' |
Property, equipment and other assets | -694,000,000 | -610,000,000 | ' |
Total deferred income tax liabilities | -2,766,000,000 | -2,605,000,000 | ' |
Deferred income tax liabilities, net | -1,413,000,000 | -992,000,000 | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' |
Net operating loss carryforwards | 1,240,000,000 | ' | ' |
Net noncurrent deferred income taxes assets of discontinued operations | 81,000,000 | 29,000,000 | ' |
Company's share of undistributed earnings of foreign subsidiaries not included in its consolidated federal income tax return | 4,040,000,000 | 3,540,000,000 | ' |
Change in the reserve for uncertain tax positions, excluding related accrued interest and penalties | ' | ' | ' |
Unrecognized tax benefits, beginning of year | 173,000,000 | 195,000,000 | 214,000,000 |
Additions for current year tax positions | 11,000,000 | 12,000,000 | 11,000,000 |
Additions for prior year tax positions | 14,000,000 | 10,000,000 | 12,000,000 |
Reductions for prior year tax positions | -40,000,000 | -33,000,000 | -18,000,000 |
Cash settlements | -17,000,000 | -8,000,000 | -23,000,000 |
Statute of limitation lapses | -1,000,000 | -3,000,000 | -1,000,000 |
Unrecognized tax benefits, end of year | 140,000,000 | 173,000,000 | 195,000,000 |
Reserve for uncertain tax positions, discontinued operations | 52,000,000 | 56,000,000 | ' |
Unrecognized tax benefits that would impact effective tax rate | 113,000,000 | ' | ' |
Interest and penalty charges related to the reserve for uncertain tax positions | 12,000,000 | 13,000,000 | 12,000,000 |
Liabilities for accrued interest and penalty charges related to the reserve for uncertain tax positions | $57,000,000 | $62,000,000 | ' |
Maximum [Member] | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' |
Net operating loss carryforward expiration date | 31-Dec-33 | ' | ' |
Minimum [Member] | ' | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' |
Net operating loss carryforward expiration date | 1-Jan-14 | ' | ' |
Pension_and_Other_Postretireme1
Pension and Other Postretirement Benefits (Change in Benefit Obligation) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Pension and Other Postretirement Benefits Details [Abstract] | ' | ' |
Percent of plan assets' fair value invested in Company common stock | 2.20% | 1.30% |
Pension Benefits [Member] | ' | ' |
Defined Change in Benefit Obligation [Roll Forward] | ' | ' |
Benefit obligation, beginning of year | 5,564 | 5,191 |
Service cost | 40 | 36 |
Interest cost | 213 | 243 |
Actuarial loss (gain) | -316 | 498 |
Benefits paid | -416 | -413 |
Participants' contributions | 0 | 0 |
Retiree Medicare drug subsidy | 0 | 0 |
Cumulative translation adjustments | -16 | 9 |
Benefit obligation, end of year | 5,069 | 5,564 |
Postretirement Benefits [Member] | ' | ' |
Defined Change in Benefit Obligation [Roll Forward] | ' | ' |
Benefit obligation, beginning of year | 676 | 697 |
Service cost | 0 | 0 |
Interest cost | 26 | 33 |
Actuarial loss (gain) | -51 | 1 |
Benefits paid | -79 | -78 |
Participants' contributions | 10 | 11 |
Retiree Medicare drug subsidy | 7 | 12 |
Cumulative translation adjustments | 0 | 0 |
Benefit obligation, end of year | 589 | 676 |
Pension_and_Other_Postretireme2
Pension and Other Postretirement Benefits (Change In Plan Assets) (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Pension Benefits [Member] | ' | ' |
Defined Benefit Plan Change In Fair Value Of Plan Assets Roll Forward | ' | ' |
Fair value of plan assets, beginning of year | $4,274 | $3,948 |
Actual return on plan assets | 182 | 476 |
Employer contributions | 203 | 254 |
Benefits paid | -416 | -413 |
Participants' contributions | 0 | 0 |
Retiree Medicare drug subsidy | 0 | 0 |
Cumulative translation adjustments | -15 | 9 |
Fair value of plan assets, end of year | 4,228 | 4,274 |
Postretirement Benefits [Member] | ' | ' |
Defined Benefit Plan Change In Fair Value Of Plan Assets Roll Forward | ' | ' |
Fair value of plan assets, beginning of year | 5 | 5 |
Actual return on plan assets | 0 | 0 |
Employer contributions | 62 | 55 |
Benefits paid | -79 | -78 |
Participants' contributions | 10 | 11 |
Retiree Medicare drug subsidy | 7 | 12 |
Cumulative translation adjustments | 0 | 0 |
Fair value of plan assets, end of year | $5 | $5 |
Pension_and_Other_Postretireme3
Pension and Other Postretirement Benefits (Funded Status and Amounts Recognized on the Consolidated Balance Sheets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Amounts recognized on the Consolidated Balance Sheets | ' | ' |
Noncurrent liabilities | ($1,330,000,000) | ($1,860,000,000) |
Amounts recognized in accumulated other comprehensive income (loss) on the Consolidated Balance Sheets | ' | ' |
Accumulated benefit obligation for all defined pension plans | 4,990,000,000 | 5,480,000,000 |
Information for pension plans with accumulated benefit obligation in excess of plan assets | ' | ' |
Projected benefit obligation | 4,892,000,000 | 5,407,000,000 |
Accumulated benefit obligation | 4,816,000,000 | 5,320,000,000 |
Fair value of plan assets | 4,037,000,000 | 4,100,000,000 |
Pension Benefits [Member] | ' | ' |
Amounts Recognized On Consolidated Balance Sheets [Line Items] | ' | ' |
Funded status at end of year | -841,000,000 | -1,290,000,000 |
Amounts recognized on the Consolidated Balance Sheets | ' | ' |
Other assets | 17,000,000 | 17,000,000 |
Current liabilities | -50,000,000 | -51,000,000 |
Noncurrent liabilities | -808,000,000 | -1,256,000,000 |
Net amounts recognized | -841,000,000 | -1,290,000,000 |
Amounts recognized in accumulated other comprehensive income (loss) on the Consolidated Balance Sheets | ' | ' |
Net actuarial (loss) gain | -1,543,000,000 | -1,854,000,000 |
Net prior service (cost) credit | -12,000,000 | -14,000,000 |
Share of equity investee | 0 | -1,000,000 |
Net amount recognized in accumulated other comprehensive income (loss) before tax | -1,555,000,000 | -1,869,000,000 |
Deferred income taxes | 617,000,000 | 739,000,000 |
Net amount recognized in accumulated other comprehensive income (loss) | -938,000,000 | -1,130,000,000 |
Pension Benefits [Member] | Qualified Plans [Member] | ' | ' |
Amounts Recognized On Consolidated Balance Sheets [Line Items] | ' | ' |
Funded status at end of year | -206,000,000 | -595,000,000 |
Postretirement Benefits [Member] | ' | ' |
Amounts Recognized On Consolidated Balance Sheets [Line Items] | ' | ' |
Funded status at end of year | -584,000,000 | -671,000,000 |
Amounts recognized on the Consolidated Balance Sheets | ' | ' |
Other assets | 0 | 0 |
Current liabilities | -62,000,000 | -67,000,000 |
Noncurrent liabilities | -522,000,000 | -604,000,000 |
Net amounts recognized | -584,000,000 | -671,000,000 |
Amounts recognized in accumulated other comprehensive income (loss) on the Consolidated Balance Sheets | ' | ' |
Net actuarial (loss) gain | 248,000,000 | 213,000,000 |
Net prior service (cost) credit | 1,000,000 | 2,000,000 |
Share of equity investee | 0 | 0 |
Net amount recognized in accumulated other comprehensive income (loss) before tax | 249,000,000 | 215,000,000 |
Deferred income taxes | -46,000,000 | -33,000,000 |
Net amount recognized in accumulated other comprehensive income (loss) | $203,000,000 | $182,000,000 |
Pension_and_Other_Postretireme4
Pension and Other Postretirement Benefits (Components of Net Periodic Benefit Cost and Amounts Recognized in Other Comprehensive Income (Loss) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Amounts Recognized in Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Deferred income taxes | ($135) | $80 | $77 |
Pension Benefits [Member] | ' | ' | ' |
Defined benefit plan, amounts that will be amortized from accumulated other comprehensive income (loss) in next fiscal year | ' | ' | ' |
Estimated net prior service cost (credit) that will be amortized into net periodic benefit cost over the next fiscal year | 2 | ' | ' |
Estimated net actuarial gain (loss) that will be amortized into net periodic benefit cost over next fiscal year | -63 | ' | ' |
Postretirement Benefits [Member] | ' | ' | ' |
Defined benefit plan, amounts that will be amortized from accumulated other comprehensive income (loss) in next fiscal year | ' | ' | ' |
Estimated net prior service cost (credit) that will be amortized into net periodic benefit cost over the next fiscal year | -1 | ' | ' |
Estimated net actuarial gain (loss) that will be amortized into net periodic benefit cost over next fiscal year | 21 | ' | ' |
Pension Benefits [Member] | ' | ' | ' |
Amounts Recognized in Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Actuarial (losses) gains | 225 | ' | ' |
Amortization of actuarial losses (gains) | 86 | ' | ' |
Amortization of prior service (credit) cost | 2 | ' | ' |
Share of equity investee | 1 | ' | ' |
Recognized in other comprehensive income, before tax | 314 | ' | ' |
Deferred income taxes | -122 | ' | ' |
Recognized in other comprehensive income, net of tax | 192 | ' | ' |
Postretirement Benefits [Member] | ' | ' | ' |
Amounts Recognized in Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' |
Actuarial (losses) gains | 51 | ' | ' |
Amortization of actuarial losses (gains) | -16 | ' | ' |
Amortization of prior service (credit) cost | -1 | ' | ' |
Share of equity investee | 0 | ' | ' |
Recognized in other comprehensive income, before tax | 34 | ' | ' |
Deferred income taxes | -13 | ' | ' |
Recognized in other comprehensive income, net of tax | 21 | ' | ' |
Pension Benefits [Member] | ' | ' | ' |
Components of net periodic cost: | ' | ' | ' |
Service cost | 40 | 36 | 34 |
Interest cost | 213 | 243 | 249 |
Expected return on plan assets | -274 | -250 | -239 |
Amortization of actuarial losses (gains) | 86 | 71 | 65 |
Amortization of prior service cost (credit) | 2 | 1 | 2 |
Net periodic cost | 67 | 101 | 111 |
Postretirement Benefits [Member] | ' | ' | ' |
Components of net periodic cost: | ' | ' | ' |
Service cost | 0 | 0 | 0 |
Interest cost | 26 | 33 | 38 |
Expected return on plan assets | 0 | 0 | 0 |
Amortization of actuarial losses (gains) | -16 | -16 | -10 |
Amortization of prior service cost (credit) | -1 | -1 | -1 |
Net periodic cost | $9 | $16 | $27 |
Pension_and_Other_Postretireme5
Pension and Other Postretirement Benefits (Assumptions) (Details) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Postretirement benefit plans assumed health care cost trend rates [Line Items] | ' | ' |
Ultimate trend rate | 5.00% | 5.00% |
Participants Age 65 And Below [Member] | ' | ' |
Postretirement benefit plans assumed health care cost trend rates [Line Items] | ' | ' |
Projected health care cost trend rate | 7.50% | 8.00% |
Year ultimate trend rate is achieved | '2019 | '2019 |
Participants Above Age 65 [Member] | ' | ' |
Postretirement benefit plans assumed health care cost trend rates [Line Items] | ' | ' |
Projected health care cost trend rate | 7.50% | 8.00% |
Year ultimate trend rate is achieved | '2019 | '2019 |
Pension Benefits [Member] | ' | ' |
Weighted average assumptions used to determine benefit obligations at December 31: | ' | ' |
Discount rate | 4.90% | 4.00% |
Rate of compensation increase | 3.00% | 3.00% |
Weighted average assumptions used to determine net periodic cost for the year ended December 31: | ' | ' |
Discount rate | 4.00% | 4.90% |
Expected long-term return on plan assets | 6.50% | 6.60% |
Rate of compensation increase | 3.00% | 3.00% |
Postretirement Benefits [Member] | ' | ' |
Weighted average assumptions used to determine benefit obligations at December 31: | ' | ' |
Discount rate | 4.50% | 4.00% |
Weighted average assumptions used to determine net periodic cost for the year ended December 31: | ' | ' |
Discount rate | 4.00% | 4.90% |
Expected long-term return on plan assets | 2.00% | 2.00% |
Pension_and_Other_Postretireme6
Pension and Other Postretirement Benefits (Sensitivity) (Details) (USD $) | 12 Months Ended |
In Millions, unless otherwise specified | Dec. 31, 2013 |
Postretirement health care plans, effect of one-percentage point change in Assumed Health Care Cost Trend Rates | ' |
Effect of one percentage point increase on total service and interest cost components | $0 |
Effect of one percentage point decrease on total service and interest cost components | 0 |
Effect of one percentage point increase on the accumulated postretirement benefit obligation | 12 |
Effect of one percentage point decrease on the accumulated postretirement benefit obligation | ($11) |
Pension_and_Other_Postretireme7
Pension and Other Postretirement Benefit (Plan Asset Allocations) (Details) | 12 Months Ended |
Dec. 31, 2013 | |
US Pension Plan Trust [Member] | ' |
Pension plan target and actual asset allocations [Line Items] | ' |
Defined benefit plan, actual plan asset allocations | 94.00% |
US Pension Plan Trust [Member] | Fixed Income Instruments [Member] | ' |
Pension plan target and actual asset allocations [Line Items] | ' |
Defined benefit plan, target plan asset allocations range minimum | 70.00% |
Defined benefit plan, target plan asset allocations range maximum | 80.00% |
Defined benefit plan, actual plan asset allocations | 72.00% |
US Pension Plan Trust [Member] | Equity Securities [Member] | ' |
Pension plan target and actual asset allocations [Line Items] | ' |
Defined benefit plan, target plan asset allocations range minimum | 16.00% |
Defined benefit plan, target plan asset allocations range maximum | 28.00% |
Defined benefit plan, actual plan asset allocations | 26.00% |
International Pension Plans [Member] | ' |
Pension plan target and actual asset allocations [Line Items] | ' |
Defined benefit plan, actual plan asset allocations | 6.00% |
International Pension Plans [Member] | Fixed Income Instruments [Member] | ' |
Pension plan target and actual asset allocations [Line Items] | ' |
Defined benefit plan, actual plan asset allocations | 62.00% |
International Pension Plans [Member] | Equity Securities [Member] | ' |
Pension plan target and actual asset allocations [Line Items] | ' |
Defined benefit plan, actual plan asset allocations | 30.00% |
Pension_and_Other_Postretireme8
Pension and Other Postretirement Benefits (Fair Value Measurements) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | |||
Pension Benefits [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | $4,228 | $4,274 | ' |
Pension Benefits [Member] | Emerging Markets Investments [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 59 | 59 | ' |
Cash And Cash Equivalents [Member] | Pension Benefits [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 66 | 171 | ' |
Fixed Income Securities [Member] | Pension Benefits [Member] | US Treasury Securities [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 134 | 102 | ' |
Fixed Income Securities [Member] | Pension Benefits [Member] | Government Related Securities [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 285 | 419 | ' |
Fixed Income Securities [Member] | Pension Benefits [Member] | Corporate Debt Securities [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 2,383 | 2,358 | ' |
Fixed Income Securities [Member] | Pension Benefits [Member] | Mortgage-backed and Asset Backed Securities [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 132 | 180 | ' |
Equity Securities [Member] | Pension Benefits [Member] | US Large Capitalization Equity Securities [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 707 | 602 | ' |
Equity Securities [Member] | Pension Benefits [Member] | US Small Capitalization Equity Securities [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 101 | 75 | ' |
Equity Securities [Member] | Pension Benefits [Member] | International Equity Securities [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 307 | 306 | ' |
Limited Partnerships [Member] | Pension Benefits [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 55 | 52 | ' |
Other Investments [Member] | Pension Benefits [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 58 | 9 | ' |
Level 1 [Member] | Pension Benefits [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 635 | 527 | ' |
Level 1 [Member] | Cash And Cash Equivalents [Member] | Pension Benefits [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 8 | 25 | ' |
Level 1 [Member] | Fixed Income Securities [Member] | Pension Benefits [Member] | US Treasury Securities [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 134 | 102 | ' |
Level 1 [Member] | Fixed Income Securities [Member] | Pension Benefits [Member] | Government Related Securities [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 45 | 58 | ' |
Level 1 [Member] | Fixed Income Securities [Member] | Pension Benefits [Member] | Corporate Debt Securities [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Level 1 [Member] | Fixed Income Securities [Member] | Pension Benefits [Member] | Mortgage-backed and Asset Backed Securities [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Level 1 [Member] | Equity Securities [Member] | Pension Benefits [Member] | US Large Capitalization Equity Securities [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 350 | 268 | ' |
Level 1 [Member] | Equity Securities [Member] | Pension Benefits [Member] | US Small Capitalization Equity Securities [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 98 | 69 | ' |
Level 1 [Member] | Equity Securities [Member] | Pension Benefits [Member] | International Equity Securities [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 5 | ' |
Level 1 [Member] | Limited Partnerships [Member] | Pension Benefits [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Level 1 [Member] | Other Investments [Member] | Pension Benefits [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Level 2 [Member] | Pension Benefits [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 3,534 | 3,691 | ' |
Level 2 [Member] | Cash And Cash Equivalents [Member] | Pension Benefits [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 58 | 146 | ' |
Level 2 [Member] | Fixed Income Securities [Member] | Pension Benefits [Member] | US Treasury Securities [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Level 2 [Member] | Fixed Income Securities [Member] | Pension Benefits [Member] | Government Related Securities [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 240 | 361 | ' |
Level 2 [Member] | Fixed Income Securities [Member] | Pension Benefits [Member] | Corporate Debt Securities [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 2,383 | 2,358 | ' |
Level 2 [Member] | Fixed Income Securities [Member] | Pension Benefits [Member] | Mortgage-backed and Asset Backed Securities [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 128 | 176 | ' |
Level 2 [Member] | Fixed Income Securities [Member] | Postretirement Benefits [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 5 | 5 | ' |
Level 2 [Member] | Equity Securities [Member] | Pension Benefits [Member] | US Large Capitalization Equity Securities [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 357 | 334 | ' |
Level 2 [Member] | Equity Securities [Member] | Pension Benefits [Member] | US Small Capitalization Equity Securities [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 3 | 6 | ' |
Level 2 [Member] | Equity Securities [Member] | Pension Benefits [Member] | International Equity Securities [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 307 | 301 | ' |
Level 2 [Member] | Limited Partnerships [Member] | Pension Benefits [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Level 2 [Member] | Other Investments [Member] | Pension Benefits [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 58 | 9 | ' |
Level 3 [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 59 | 56 | 80 |
Level 3 [Member] | Pension Benefits [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 59 | 56 | ' |
Level 3 [Member] | Cash And Cash Equivalents [Member] | Pension Benefits [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Level 3 [Member] | Fixed Income Securities [Member] | Pension Benefits [Member] | US Treasury Securities [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Level 3 [Member] | Fixed Income Securities [Member] | Pension Benefits [Member] | Government Related Securities [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Level 3 [Member] | Fixed Income Securities [Member] | Pension Benefits [Member] | Corporate Debt Securities [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Level 3 [Member] | Fixed Income Securities [Member] | Pension Benefits [Member] | Mortgage-backed and Asset Backed Securities [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 4 | 4 | ' |
Level 3 [Member] | Equity Securities [Member] | Pension Benefits [Member] | US Large Capitalization Equity Securities [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Level 3 [Member] | Equity Securities [Member] | Pension Benefits [Member] | US Small Capitalization Equity Securities [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Level 3 [Member] | Equity Securities [Member] | Pension Benefits [Member] | International Equity Securities [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 0 | 0 | ' |
Level 3 [Member] | Limited Partnerships [Member] | Pension Benefits [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | 55 | 52 | ' |
Level 3 [Member] | Other Investments [Member] | Pension Benefits [Member] | ' | ' | ' |
Fair value plan assets measured on recurring basis asset categories [Line Items] | ' | ' | ' |
Fair value of plan assets | $0 | $0 | ' |
Pension_and_Other_Postretireme9
Pension and Other Postretirement Benefit (Fair Value Measurements Level 3 Rollforward) (Details) (Level 3 [Member], USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Benefit Plan Change in Fair Value Plan Assets Level 3 [Line Items] | ' | ' |
Fair value of plan assets, beginning of year | $56 | $80 |
Actual return related to investments held at end of year | 4 | 6 |
Distributions | -1 | -30 |
Fair value of plan assets, end of year | 59 | 56 |
Limited Partnerships [Member] | ' | ' |
Defined Benefit Plan Change in Fair Value Plan Assets Level 3 [Line Items] | ' | ' |
Fair value of plan assets, beginning of year | 52 | 75 |
Actual return related to investments held at end of year | 4 | 6 |
Distributions | -1 | -29 |
Fair value of plan assets, end of year | 55 | 52 |
Mortgage-backed and Asset Backed Securities [Member] | ' | ' |
Defined Benefit Plan Change in Fair Value Plan Assets Level 3 [Line Items] | ' | ' |
Fair value of plan assets, beginning of year | 4 | 5 |
Actual return related to investments held at end of year | 0 | 0 |
Distributions | 0 | -1 |
Fair value of plan assets, end of year | $4 | $4 |
Recovered_Sheet2
Pension and Other Postretirement Benefit (Future Benefit Payments and Contributions) (Details) (USD $) | 12 Months Ended | ||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Nov. 30, 2013 | Dec. 31, 2012 | Nov. 30, 2012 | Dec. 31, 2011 |
Expected Future Medicare Drug Subsidy Receipts | ' | ' | ' | ' | ' |
2014 | $10 | ' | ' | ' | ' |
2015 | 10 | ' | ' | ' | ' |
2016 | 10 | ' | ' | ' | ' |
2017 | 10 | ' | ' | ' | ' |
2018 | 10 | ' | ' | ' | ' |
2019-2023 | 44 | ' | ' | ' | ' |
Multiemployer Pension Plans [Line Items] | ' | ' | ' | ' | ' |
Contributions to multiemployer plans | 44 | ' | 40 | ' | 37 |
Contributions to defined contribution plans | 53 | ' | 49 | ' | 46 |
AFTRA Retirement Plan [Member] | ' | ' | ' | ' | ' |
Multiemployer Pension Plans [Line Items] | ' | ' | ' | ' | ' |
Entity tax identification number | '136414972 | ' | ' | ' | ' |
Pension plan number | '001 | ' | ' | ' | ' |
Pension Protection Act zone status | ' | 'Green | ' | 'Green | ' |
Contributions to multiemployer plans | 7 | ' | 7 | ' | 7 |
Multiemployer plan for which the company contributed more than 5% of total contributions | ' | ' | ' | 'true | ' |
AFTRA Retirement Plan [Member] | Minimum [Member] | ' | ' | ' | ' | ' |
Multiemployer Pension Plans [Line Items] | ' | ' | ' | ' | ' |
Expiration date of collective bargaining agreement | 30-Jun-14 | ' | ' | ' | ' |
AFTRA Retirement Plan [Member] | Maximum [Member] | ' | ' | ' | ' | ' |
Multiemployer Pension Plans [Line Items] | ' | ' | ' | ' | ' |
Expiration date of collective bargaining agreement | 15-Nov-14 | ' | ' | ' | ' |
Directors Guild Of America Producer [Member] | ' | ' | ' | ' | ' |
Multiemployer Pension Plans [Line Items] | ' | ' | ' | ' | ' |
Entity tax identification number | '510137697 | ' | ' | ' | ' |
Pension plan number | '001 | ' | ' | ' | ' |
Pension Protection Act zone status | 'Green | ' | 'Green | ' | ' |
Contributions to multiemployer plans | 5 | ' | 4 | ' | 4 |
Expiration date of collective bargaining agreement | 30-Jun-17 | ' | ' | ' | ' |
Producer Writers Guild Of America [Member] | ' | ' | ' | ' | ' |
Multiemployer Pension Plans [Line Items] | ' | ' | ' | ' | ' |
Entity tax identification number | '952216351 | ' | ' | ' | ' |
Pension plan number | '001 | ' | ' | ' | ' |
Pension Protection Act zone status | 'Green | ' | 'Green | ' | ' |
Contributions to multiemployer plans | 8 | ' | 8 | ' | 6 |
Expiration date of collective bargaining agreement | 1-May-14 | ' | ' | ' | ' |
Screen Actors Guild Producers [Member] | ' | ' | ' | ' | ' |
Multiemployer Pension Plans [Line Items] | ' | ' | ' | ' | ' |
Entity tax identification number | '952110997 | ' | ' | ' | ' |
Pension plan number | '001 | ' | ' | ' | ' |
Pension Protection Act zone status | 'Green | ' | 'Green | ' | ' |
Contributions to multiemployer plans | 7 | ' | 6 | ' | 6 |
Expiration date of collective bargaining agreement | 30-Jun-14 | ' | ' | ' | ' |
Motion Picture Industry [Member] | ' | ' | ' | ' | ' |
Multiemployer Pension Plans [Line Items] | ' | ' | ' | ' | ' |
Entity tax identification number | '951810805 | ' | ' | ' | ' |
Pension plan number | '001 | ' | ' | ' | ' |
Pension Protection Act zone status | 'Green | ' | 'Green | ' | ' |
Contributions to multiemployer plans | 7 | ' | 7 | ' | 8 |
Motion Picture Industry [Member] | Minimum [Member] | ' | ' | ' | ' | ' |
Multiemployer Pension Plans [Line Items] | ' | ' | ' | ' | ' |
Expiration date of collective bargaining agreement | 15-May-15 | ' | ' | ' | ' |
Motion Picture Industry [Member] | Maximum [Member] | ' | ' | ' | ' | ' |
Multiemployer Pension Plans [Line Items] | ' | ' | ' | ' | ' |
Expiration date of collective bargaining agreement | 2-Mar-16 | ' | ' | ' | ' |
Multiemployer Plan, Individually Insignificant Multiemployer Plans [Member] | ' | ' | ' | ' | ' |
Multiemployer Pension Plans [Line Items] | ' | ' | ' | ' | ' |
Contributions to multiemployer plans | 10 | ' | 8 | ' | 6 |
Health And Welfare Multiemployer Plans [Member] | ' | ' | ' | ' | ' |
Multiemployer Pension Plans [Line Items] | ' | ' | ' | ' | ' |
Contributions to multiemployer plans | 17 | ' | 19 | ' | 20 |
Pension Benefits [Member] | Nonqualified Pension Plans [Member] | ' | ' | ' | ' | ' |
Expected contributions in next fiscal year [Line Items] | ' | ' | ' | ' | ' |
Expected contribution in the next fiscal year | 50 | ' | ' | ' | ' |
Postretirement Benefits [Member] | ' | ' | ' | ' | ' |
Expected contributions in next fiscal year [Line Items] | ' | ' | ' | ' | ' |
Expected contribution in the next fiscal year | 62 | ' | ' | ' | ' |
Pension Benefits [Member] | ' | ' | ' | ' | ' |
Estimated future benefit payments | ' | ' | ' | ' | ' |
2014 | 409 | ' | ' | ' | ' |
2015 | 400 | ' | ' | ' | ' |
2016 | 389 | ' | ' | ' | ' |
2017 | 381 | ' | ' | ' | ' |
2018 | 373 | ' | ' | ' | ' |
2019-2023 | 1,727 | ' | ' | ' | ' |
Postretirement Benefits [Member] | ' | ' | ' | ' | ' |
Estimated future benefit payments | ' | ' | ' | ' | ' |
2014 | 72 | ' | ' | ' | ' |
2015 | 71 | ' | ' | ' | ' |
2016 | 68 | ' | ' | ' | ' |
2017 | 66 | ' | ' | ' | ' |
2018 | 63 | ' | ' | ' | ' |
2019-2023 | $266 | ' | ' | ' | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Purchase Obligations [Abstract] | ' | ' | ' |
Purchase obligations, payments due 2014 | $240 | ' | ' |
Purchase obligations, payments due 2015 | 208 | ' | ' |
Purchase obligations, payments due 2016 | 131 | ' | ' |
Purchase obligations, payments due 2017 | 113 | ' | ' |
Purchase obligations, payments due 2018 | 107 | ' | ' |
Purchase obligations, payments due 2019 and thereafter | 246 | ' | ' |
Purchase obligations, total future minimum payments | 1,045 | ' | ' |
Other Long-term Contractual Obligations [Abstract] | ' | ' | ' |
Other long-term contractual obligations, payments due 2014 | 0 | ' | ' |
Other long-term contractual obligations, payments due 2015 | 639 | ' | ' |
Other long-term contractual obligations, payments due 2016 | 313 | ' | ' |
Other long-term contractual obligations, payments due 2017 | 94 | ' | ' |
Other long term contractual obligations, payments due 2018 | 56 | ' | ' |
Other long-term contractual obligations, payments due 2019 and thereafter | 53 | ' | ' |
Other long-term contractual obligations, total future minimum payments | 1,155 | ' | ' |
Capital Leases, Future Minimum Rental Payments [Abstract] | ' | ' | ' |
Capital leases, payments due 2014 | 21 | ' | ' |
Capital leases, payments due 2015 | 20 | ' | ' |
Capital leases, payments due 2016 | 19 | ' | ' |
Capital leases, payments due 2017 | 15 | ' | ' |
Capital leases, payments due 2018 | 15 | ' | ' |
Capital leases, payments due 2019 and thereafter | 44 | ' | ' |
Capital leases, total future minimum payments | 134 | ' | ' |
Capital Leases, less amounts representing interest | 21 | ' | ' |
Capital Leases, present value of net minimum payments | 113 | ' | ' |
Operating Leases, Future Minimum Rental Payments [Abstract] | ' | ' | ' |
Operating leases, payments due 2014 | 251 | ' | ' |
Operating leases, payments due 2015 | 225 | ' | ' |
Operating leases, payments due 2016 | 201 | ' | ' |
Operating leases, payments due 2017 | 177 | ' | ' |
Operating leases, payments due 2018 | 154 | ' | ' |
Operating leases, payments due 2019 and thereafter | 783 | ' | ' |
Operating leases, total future minimum payments | 1,791 | ' | ' |
Future minimum operating lease payments related to Outdoor Americas billboards | 640 | ' | ' |
Future minimum sublease income | 72 | ' | ' |
Rent expense | 503 | 487 | 483 |
Exposure under guarantee | 280 | ' | ' |
Estimated fair value of guarantees | 40 | ' | ' |
Outstanding letters of credit and surety bonds | 321 | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Costs for settlement and defense of asbestos claims, net of insurance recoveries and tax benefits | 29 | 21 | ' |
Asbestos Claims [Member] | ' | ' | ' |
Loss Contingencies [Line Items] | ' | ' | ' |
Number of pending asbestos claims | 45,150 | 45,900 | 50,090 |
Number of new asbestos claims | 4,310 | ' | ' |
Number of asbestos claims closed or moved to inactive docket | 5,060 | ' | ' |
Programming and Talent Commitment [Member] | ' | ' | ' |
Other Commitments [Line Items] | ' | ' | ' |
Other commitments, payments due 2014 | 2,356 | ' | ' |
Other commitments, payments due 2015 | 1,799 | ' | ' |
Other commitments, payments due 2016 | 1,708 | ' | ' |
Other commitments, payments due 2017 | 1,463 | ' | ' |
Other commitments, payments due 2018 | 1,451 | ' | ' |
Other commitments, payments due 2019 and thereafter | 5,703 | ' | ' |
Other commitments, total future minimum payments | 14,480 | ' | ' |
Programming and Talent Commitment [Member] | Sports Programming Rights Commitments [Member] | ' | ' | ' |
Other Commitments [Line Items] | ' | ' | ' |
Other commitments, total future minimum payments | 11,230 | ' | ' |
Programming and Talent Commitment [Member] | Television Radio and Film Production And Licensing [Member] | ' | ' | ' |
Other Commitments [Line Items] | ' | ' | ' |
Other commitments, total future minimum payments | 2,470 | ' | ' |
Programming and Talent Commitment [Member] | Talent Contracts [Member] | ' | ' | ' |
Other Commitments [Line Items] | ' | ' | ' |
Other commitments, total future minimum payments | 773 | ' | ' |
Guaranteed Minimum Franchise Payments [Member] | ' | ' | ' |
Other Commitments [Line Items] | ' | ' | ' |
Other commitments, payments due 2014 | 151 | ' | ' |
Other commitments, payments due 2015 | 97 | ' | ' |
Other commitments, payments due 2016 | 22 | ' | ' |
Other commitments, payments due 2017 | 15 | ' | ' |
Other commitments, payments due 2018 | 7 | ' | ' |
Other commitments, payments due 2019 and thereafter | 39 | ' | ' |
Other commitments, total future minimum payments | $331 | ' | ' |
Reportable_Segments_Details
Reportable Segments (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Reportable Segments Details [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense | ' | ' | ' | ' | ' | ' | ' | ' | ($376,000,000) | ($402,000,000) | ($435,000,000) |
Interest income | ' | ' | ' | ' | ' | ' | ' | ' | 8,000,000 | 6,000,000 | 6,000,000 |
Net loss on early extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -32,000,000 | 0 |
Other items, net | ' | ' | ' | ' | ' | ' | ' | ' | 6,000,000 | 6,000,000 | -11,000,000 |
Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of investee companies | ' | ' | ' | ' | ' | ' | ' | ' | 2,897,000,000 | 2,561,000,000 | 2,179,000,000 |
(Provision) benefit for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -978,000,000 | -892,000,000 | -751,000,000 |
Equity in loss of investee companies, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | -46,000,000 | -35,000,000 | -37,000,000 |
Net earnings (loss) from continuing operations | 465,000,000 | 469,000,000 | 476,000,000 | 463,000,000 | 403,000,000 | 385,000,000 | 452,000,000 | 394,000,000 | 1,873,000,000 | 1,634,000,000 | 1,391,000,000 |
Net earnings (loss) from discontinued operations, net of tax (Note 3) | ' | ' | ' | ' | ' | ' | ' | ' | 6,000,000 | -60,000,000 | -86,000,000 |
Net earnings (loss) | 470,000,000 | 494,000,000 | 472,000,000 | 443,000,000 | 393,000,000 | 391,000,000 | 427,000,000 | 363,000,000 | 1,879,000,000 | 1,574,000,000 | 1,305,000,000 |
Reportable Segments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | 3,911,000,000 | 3,634,000,000 | 3,699,000,000 | 4,040,000,000 | 3,698,000,000 | 3,266,000,000 | 3,329,000,000 | 3,796,000,000 | 15,284,000,000 | 14,089,000,000 | 13,637,000,000 |
Segment OIBDA | 927,000,000 | 941,000,000 | 952,000,000 | 916,000,000 | 866,000,000 | 904,000,000 | 911,000,000 | 807,000,000 | 3,736,000,000 | 3,488,000,000 | 3,157,000,000 |
Operating income (loss) | 793,000,000 | 828,000,000 | 838,000,000 | 800,000,000 | 726,000,000 | 788,000,000 | 792,000,000 | 677,000,000 | 3,259,000,000 | 2,983,000,000 | 2,619,000,000 |
Depreciation and amortization | 114,000,000 | 113,000,000 | 114,000,000 | 116,000,000 | 121,000,000 | 116,000,000 | 119,000,000 | 119,000,000 | 457,000,000 | 475,000,000 | 495,000,000 |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | -20,000,000 | -19,000,000 | -43,000,000 |
Impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -11,000,000 | 0 |
Stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 229,000,000 | 153,000,000 | 139,000,000 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 270,000,000 | 254,000,000 | 245,000,000 |
Assets | 26,387,000,000 | ' | ' | ' | 26,466,000,000 | ' | ' | ' | 26,387,000,000 | 26,466,000,000 | ' |
Long-lived assets | 20,702,000,000 | ' | ' | ' | 20,572,000,000 | ' | ' | ' | 20,702,000,000 | 20,572,000,000 | ' |
Revenues by Type: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Advertising | ' | ' | ' | ' | ' | ' | ' | ' | 8,803,000,000 | 8,459,000,000 | 8,399,000,000 |
Content licensing and distribution revenues | ' | ' | ' | ' | ' | ' | ' | ' | 3,997,000,000 | 3,468,000,000 | 3,236,000,000 |
Affiliate and subscription fees | ' | ' | ' | ' | ' | ' | ' | ' | 2,221,000,000 | 1,921,000,000 | 1,762,000,000 |
Other Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 263,000,000 | 241,000,000 | 240,000,000 |
United States [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reportable Segments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 13,293,000,000 | 12,358,000,000 | 12,055,000,000 |
Long-lived assets | 20,169,000,000 | ' | ' | ' | 19,850,000,000 | ' | ' | ' | 20,169,000,000 | 19,850,000,000 | ' |
International [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reportable Segments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,991,000,000 | 1,731,000,000 | 1,582,000,000 |
Long-lived assets | 533,000,000 | ' | ' | ' | 722,000,000 | ' | ' | ' | 533,000,000 | 722,000,000 | ' |
Operating Segments [Member] | Entertainment Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reportable Segments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | 2,214,000,000 | 1,884,000,000 | 2,008,000,000 | 2,539,000,000 | 1,989,000,000 | 1,680,000,000 | 1,707,000,000 | 2,318,000,000 | 8,645,000,000 | 7,694,000,000 | 7,457,000,000 |
Segment OIBDA | 418,000,000 | 431,000,000 | 429,000,000 | 480,000,000 | 328,000,000 | 384,000,000 | 426,000,000 | 411,000,000 | 1,758,000,000 | 1,549,000,000 | 1,431,000,000 |
Operating income (loss) | 368,000,000 | 394,000,000 | 391,000,000 | 440,000,000 | 280,000,000 | 346,000,000 | 385,000,000 | 370,000,000 | 1,593,000,000 | 1,381,000,000 | 1,231,000,000 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 153,000,000 | 161,000,000 | 160,000,000 |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | -12,000,000 | -7,000,000 | ' |
Stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 56,000,000 | 49,000,000 | 45,000,000 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 101,000,000 | 92,000,000 | 94,000,000 |
Assets | 9,657,000,000 | ' | ' | ' | 9,023,000,000 | ' | ' | ' | 9,657,000,000 | 9,023,000,000 | ' |
Operating Segments [Member] | Cable Networks Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reportable Segments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | 477,000,000 | 596,000,000 | 518,000,000 | 478,000,000 | 438,000,000 | 436,000,000 | 446,000,000 | 452,000,000 | 2,069,000,000 | 1,772,000,000 | 1,621,000,000 |
Segment OIBDA | 199,000,000 | 261,000,000 | 207,000,000 | 231,000,000 | 185,000,000 | 227,000,000 | 190,000,000 | 209,000,000 | 898,000,000 | 811,000,000 | 707,000,000 |
Operating income (loss) | 193,000,000 | 255,000,000 | 202,000,000 | 227,000,000 | 176,000,000 | 221,000,000 | 184,000,000 | 204,000,000 | 877,000,000 | 785,000,000 | 684,000,000 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | 26,000,000 | 23,000,000 |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | -1,000,000 | ' | ' |
Stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 8,000,000 | 6,000,000 | 4,000,000 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 16,000,000 | 18,000,000 | 15,000,000 |
Assets | 1,968,000,000 | ' | ' | ' | 1,750,000,000 | ' | ' | ' | 1,968,000,000 | 1,750,000,000 | ' |
Operating Segments [Member] | Publishing Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reportable Segments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | 225,000,000 | 224,000,000 | 189,000,000 | 171,000,000 | 215,000,000 | 210,000,000 | 189,000,000 | 176,000,000 | 809,000,000 | 790,000,000 | 787,000,000 |
Segment OIBDA | 37,000,000 | 43,000,000 | 21,000,000 | 12,000,000 | 31,000,000 | 39,000,000 | 9,000,000 | 10,000,000 | 113,000,000 | 89,000,000 | 92,000,000 |
Operating income (loss) | 35,000,000 | 41,000,000 | 20,000,000 | 10,000,000 | 27,000,000 | 38,000,000 | 7,000,000 | 8,000,000 | 106,000,000 | 80,000,000 | 83,000,000 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 6,000,000 | 6,000,000 | 7,000,000 |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | -1,000,000 | -3,000,000 | ' |
Stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 4,000,000 | 3,000,000 | 3,000,000 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 4,000,000 | 5,000,000 | 7,000,000 |
Assets | 1,026,000,000 | ' | ' | ' | 1,033,000,000 | ' | ' | ' | 1,026,000,000 | 1,033,000,000 | ' |
Operating Segments [Member] | Local Broadcasting Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reportable Segments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | 719,000,000 | 641,000,000 | 698,000,000 | 638,000,000 | 787,000,000 | 661,000,000 | 704,000,000 | 622,000,000 | 2,696,000,000 | 2,774,000,000 | 2,689,000,000 |
Segment OIBDA | 263,000,000 | 181,000,000 | 255,000,000 | 199,000,000 | 325,000,000 | 213,000,000 | 248,000,000 | 171,000,000 | 898,000,000 | 957,000,000 | 849,000,000 |
Operating income (loss) | 236,000,000 | 161,000,000 | 234,000,000 | 176,000,000 | 295,000,000 | 190,000,000 | 225,000,000 | 138,000,000 | 807,000,000 | 848,000,000 | 750,000,000 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 86,000,000 | 90,000,000 | 99,000,000 |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | -5,000,000 | -8,000,000 | ' |
Stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 27,000,000 | 24,000,000 | 22,000,000 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 64,000,000 | 64,000,000 | 69,000,000 |
Assets | 9,600,000,000 | ' | ' | ' | 9,614,000,000 | ' | ' | ' | 9,600,000,000 | 9,614,000,000 | ' |
Operating Segments [Member] | Outdoor Americas Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reportable Segments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | 347,000,000 | 341,000,000 | 335,000,000 | 281,000,000 | 340,000,000 | 334,000,000 | 334,000,000 | 288,000,000 | 1,304,000,000 | 1,296,000,000 | 1,286,000,000 |
Segment OIBDA | 120,000,000 | 110,000,000 | 107,000,000 | 74,000,000 | 94,000,000 | 105,000,000 | 103,000,000 | 76,000,000 | 411,000,000 | 378,000,000 | 380,000,000 |
Operating income (loss) | 78,000,000 | 68,000,000 | 65,000,000 | 32,000,000 | 52,000,000 | 62,000,000 | 62,000,000 | 33,000,000 | 243,000,000 | 209,000,000 | 197,000,000 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 168,000,000 | 169,000,000 | 182,000,000 |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' |
Stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 7,000,000 | 6,000,000 | 5,000,000 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 58,000,000 | 54,000,000 | 46,000,000 |
Assets | 3,342,000,000 | ' | ' | ' | 3,542,000,000 | ' | ' | ' | 3,342,000,000 | 3,542,000,000 | ' |
Corporate [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reportable Segments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment OIBDA | -110,000,000 | -85,000,000 | -67,000,000 | -80,000,000 | -97,000,000 | -64,000,000 | -65,000,000 | -70,000,000 | -342,000,000 | -296,000,000 | -302,000,000 |
Operating income (loss) | -117,000,000 | -91,000,000 | -74,000,000 | -85,000,000 | -104,000,000 | -69,000,000 | -71,000,000 | -76,000,000 | -367,000,000 | -320,000,000 | -326,000,000 |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 24,000,000 | 23,000,000 | 24,000,000 |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | -1,000,000 | -1,000,000 | ' |
Stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 127,000,000 | 65,000,000 | 60,000,000 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 27,000,000 | 21,000,000 | 14,000,000 |
Assets | 676,000,000 | ' | ' | ' | 1,026,000,000 | ' | ' | ' | 676,000,000 | 1,026,000,000 | ' |
Intersegment Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reportable Segments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | -71,000,000 | -52,000,000 | -49,000,000 | -67,000,000 | -71,000,000 | -55,000,000 | -51,000,000 | -60,000,000 | -239,000,000 | -237,000,000 | -203,000,000 |
Intersegment Eliminations [Member] | Entertainment Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reportable Segments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | -208,000,000 | -203,000,000 | -160,000,000 |
Intersegment Eliminations [Member] | Cable Networks Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reportable Segments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -1,000,000 |
Intersegment Eliminations [Member] | Local Broadcasting Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reportable Segments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | -17,000,000 | -19,000,000 | -20,000,000 |
Intersegment Eliminations [Member] | Outdoor Americas Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reportable Segments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | -14,000,000 | -15,000,000 | -22,000,000 |
Discontinued Operations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reportable Segments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Assets | 118,000,000 | ' | ' | ' | 478,000,000 | ' | ' | ' | 118,000,000 | 478,000,000 | ' |
Segment reconciling items [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reportable Segments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring charges | -20,000,000 | 0 | 0 | 0 | -19,000,000 | 0 | 0 | 0 | -20,000,000 | -19,000,000 | -43,000,000 |
Impairment charges | ' | ' | ' | ' | $0 | $0 | $0 | ($11,000,000) | $0 | ($11,000,000) | $0 |
Supplemental_Cash_Flow_Informa2
Supplemental Cash Flow Information (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Supplemental Cash Flow Information [Line Items] | ' | ' | ' |
Cash paid for interest, net of amounts capitalized | $360 | $441 | $419 |
Cash paid for income taxes | 386 | 406 | 235 |
Non-cash investing and financing activities: | ' | ' | ' |
Equipment acquired under capitalized leases | 58 | 13 | 7 |
Investment in investee companies | 13 | 0 | 0 |
Contingent consideration associated with acquisitions | 0 | 4 | 56 |
Continuing Operations [Member] | ' | ' | ' |
Supplemental Cash Flow Information [Line Items] | ' | ' | ' |
Cash paid for income taxes | 422 | 425 | 233 |
Discontinued Operations [Member] | ' | ' | ' |
Supplemental Cash Flow Information [Line Items] | ' | ' | ' |
Cash paid for income taxes | ($36) | ($19) | $2 |
Quarterly_Financial_Data_unaud2
Quarterly Financial Data (unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
Share data in Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Quarterly Financial Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | $3,911,000,000 | $3,634,000,000 | $3,699,000,000 | $4,040,000,000 | $3,698,000,000 | $3,266,000,000 | $3,329,000,000 | $3,796,000,000 | $15,284,000,000 | $14,089,000,000 | $13,637,000,000 |
Segment OIBDA | 927,000,000 | 941,000,000 | 952,000,000 | 916,000,000 | 866,000,000 | 904,000,000 | 911,000,000 | 807,000,000 | 3,736,000,000 | 3,488,000,000 | 3,157,000,000 |
Operating income (loss) | 793,000,000 | 828,000,000 | 838,000,000 | 800,000,000 | 726,000,000 | 788,000,000 | 792,000,000 | 677,000,000 | 3,259,000,000 | 2,983,000,000 | 2,619,000,000 |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | -20,000,000 | -19,000,000 | -43,000,000 |
Impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -11,000,000 | 0 |
Depreciation and amortization | -114,000,000 | -113,000,000 | -114,000,000 | -116,000,000 | -121,000,000 | -116,000,000 | -119,000,000 | -119,000,000 | -457,000,000 | -475,000,000 | -495,000,000 |
Net earnings (loss) from continuing operations | 465,000,000 | 469,000,000 | 476,000,000 | 463,000,000 | 403,000,000 | 385,000,000 | 452,000,000 | 394,000,000 | 1,873,000,000 | 1,634,000,000 | 1,391,000,000 |
Net earnings (loss) | 470,000,000 | 494,000,000 | 472,000,000 | 443,000,000 | 393,000,000 | 391,000,000 | 427,000,000 | 363,000,000 | 1,879,000,000 | 1,574,000,000 | 1,305,000,000 |
Basic net earnings (loss) per common share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic net earnings (loss) from continuing operations (in dollars per share) | $0.78 | $0.78 | $0.78 | $0.75 | $0.64 | $0.60 | $0.70 | $0.61 | $3.08 | $2.55 | $2.09 |
Basic net earnings (loss) per common share (in dollars per share) | $0.78 | $0.82 | $0.78 | $0.71 | $0.62 | $0.61 | $0.66 | $0.56 | $3.09 | $2.45 | $1.97 |
Diluted net earnings (loss) per common share: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Diluted net earnings (loss) from continuing operations (in dollars per share) | $0.76 | $0.76 | $0.76 | $0.73 | $0.62 | $0.59 | $0.68 | $0.59 | $3 | $2.48 | $2.04 |
Diluted net earnings (loss) per common share (in dollars per share) | $0.76 | $0.80 | $0.76 | $0.69 | $0.60 | $0.60 | $0.65 | $0.54 | $3.01 | $2.39 | $1.92 |
Weighted average number of common shares outstanding: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic weighted average number of common shares outstanding | 599 | 603 | 609 | 621 | 634 | 640 | 646 | 650 | 608 | 642 | 664 |
Diluted weighted average number of common shares outstanding | 615 | 618 | 624 | 638 | 650 | 656 | 661 | 667 | 624 | 659 | 681 |
Dividends per common share (in dollars per share) | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.12 | $0.10 | $0.10 | $0.48 | $0.44 | $0.35 |
Operating Segments [Member] | Entertainment Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly Financial Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | 2,214,000,000 | 1,884,000,000 | 2,008,000,000 | 2,539,000,000 | 1,989,000,000 | 1,680,000,000 | 1,707,000,000 | 2,318,000,000 | 8,645,000,000 | 7,694,000,000 | 7,457,000,000 |
Segment OIBDA | 418,000,000 | 431,000,000 | 429,000,000 | 480,000,000 | 328,000,000 | 384,000,000 | 426,000,000 | 411,000,000 | 1,758,000,000 | 1,549,000,000 | 1,431,000,000 |
Operating income (loss) | 368,000,000 | 394,000,000 | 391,000,000 | 440,000,000 | 280,000,000 | 346,000,000 | 385,000,000 | 370,000,000 | 1,593,000,000 | 1,381,000,000 | 1,231,000,000 |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | -12,000,000 | -7,000,000 | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | -153,000,000 | -161,000,000 | -160,000,000 |
Operating Segments [Member] | Cable Networks Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly Financial Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | 477,000,000 | 596,000,000 | 518,000,000 | 478,000,000 | 438,000,000 | 436,000,000 | 446,000,000 | 452,000,000 | 2,069,000,000 | 1,772,000,000 | 1,621,000,000 |
Segment OIBDA | 199,000,000 | 261,000,000 | 207,000,000 | 231,000,000 | 185,000,000 | 227,000,000 | 190,000,000 | 209,000,000 | 898,000,000 | 811,000,000 | 707,000,000 |
Operating income (loss) | 193,000,000 | 255,000,000 | 202,000,000 | 227,000,000 | 176,000,000 | 221,000,000 | 184,000,000 | 204,000,000 | 877,000,000 | 785,000,000 | 684,000,000 |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | -1,000,000 | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | -20,000,000 | -26,000,000 | -23,000,000 |
Operating Segments [Member] | Publishing Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly Financial Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | 225,000,000 | 224,000,000 | 189,000,000 | 171,000,000 | 215,000,000 | 210,000,000 | 189,000,000 | 176,000,000 | 809,000,000 | 790,000,000 | 787,000,000 |
Segment OIBDA | 37,000,000 | 43,000,000 | 21,000,000 | 12,000,000 | 31,000,000 | 39,000,000 | 9,000,000 | 10,000,000 | 113,000,000 | 89,000,000 | 92,000,000 |
Operating income (loss) | 35,000,000 | 41,000,000 | 20,000,000 | 10,000,000 | 27,000,000 | 38,000,000 | 7,000,000 | 8,000,000 | 106,000,000 | 80,000,000 | 83,000,000 |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | -1,000,000 | -3,000,000 | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | -6,000,000 | -6,000,000 | -7,000,000 |
Operating Segments [Member] | Local Broadcasting Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly Financial Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | 719,000,000 | 641,000,000 | 698,000,000 | 638,000,000 | 787,000,000 | 661,000,000 | 704,000,000 | 622,000,000 | 2,696,000,000 | 2,774,000,000 | 2,689,000,000 |
Segment OIBDA | 263,000,000 | 181,000,000 | 255,000,000 | 199,000,000 | 325,000,000 | 213,000,000 | 248,000,000 | 171,000,000 | 898,000,000 | 957,000,000 | 849,000,000 |
Operating income (loss) | 236,000,000 | 161,000,000 | 234,000,000 | 176,000,000 | 295,000,000 | 190,000,000 | 225,000,000 | 138,000,000 | 807,000,000 | 848,000,000 | 750,000,000 |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | -5,000,000 | -8,000,000 | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | -86,000,000 | -90,000,000 | -99,000,000 |
Operating Segments [Member] | Outdoor Americas Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly Financial Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | 347,000,000 | 341,000,000 | 335,000,000 | 281,000,000 | 340,000,000 | 334,000,000 | 334,000,000 | 288,000,000 | 1,304,000,000 | 1,296,000,000 | 1,286,000,000 |
Segment OIBDA | 120,000,000 | 110,000,000 | 107,000,000 | 74,000,000 | 94,000,000 | 105,000,000 | 103,000,000 | 76,000,000 | 411,000,000 | 378,000,000 | 380,000,000 |
Operating income (loss) | 78,000,000 | 68,000,000 | 65,000,000 | 32,000,000 | 52,000,000 | 62,000,000 | 62,000,000 | 33,000,000 | 243,000,000 | 209,000,000 | 197,000,000 |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | -168,000,000 | -169,000,000 | -182,000,000 |
Corporate [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly Financial Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment OIBDA | -110,000,000 | -85,000,000 | -67,000,000 | -80,000,000 | -97,000,000 | -64,000,000 | -65,000,000 | -70,000,000 | -342,000,000 | -296,000,000 | -302,000,000 |
Operating income (loss) | -117,000,000 | -91,000,000 | -74,000,000 | -85,000,000 | -104,000,000 | -69,000,000 | -71,000,000 | -76,000,000 | -367,000,000 | -320,000,000 | -326,000,000 |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | -1,000,000 | -1,000,000 | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | -24,000,000 | -23,000,000 | -24,000,000 |
Segment reconciling items [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly Financial Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Restructuring charges | -20,000,000 | 0 | 0 | 0 | -19,000,000 | 0 | 0 | 0 | -20,000,000 | -19,000,000 | -43,000,000 |
Impairment charges | ' | ' | ' | ' | 0 | 0 | 0 | -11,000,000 | 0 | -11,000,000 | 0 |
Intersegment Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly Financial Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | -71,000,000 | -52,000,000 | -49,000,000 | -67,000,000 | -71,000,000 | -55,000,000 | -51,000,000 | -60,000,000 | -239,000,000 | -237,000,000 | -203,000,000 |
Intersegment Eliminations [Member] | Entertainment Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly Financial Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | -208,000,000 | -203,000,000 | -160,000,000 |
Intersegment Eliminations [Member] | Cable Networks Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly Financial Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | -1,000,000 |
Intersegment Eliminations [Member] | Local Broadcasting Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly Financial Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | -17,000,000 | -19,000,000 | -20,000,000 |
Intersegment Eliminations [Member] | Outdoor Americas Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly Financial Data [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ($14,000,000) | ($15,000,000) | ($22,000,000) |
Condensed_Consolidating_Financ2
Condensed Consolidating Financials (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||
Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Condensed Consolidating Statement of Operations [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | $3,911,000,000 | $3,634,000,000 | $3,699,000,000 | $4,040,000,000 | $3,698,000,000 | $3,266,000,000 | $3,329,000,000 | $3,796,000,000 | $15,284,000,000 | $14,089,000,000 | $13,637,000,000 | ' |
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating | ' | ' | ' | ' | ' | ' | ' | ' | 8,813,000,000 | 7,967,000,000 | 7,882,000,000 | ' |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 2,735,000,000 | 2,634,000,000 | 2,598,000,000 | ' |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | 20,000,000 | 19,000,000 | 43,000,000 | ' |
Impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 11,000,000 | 0 | ' |
Depreciation and amortization | 114,000,000 | 113,000,000 | 114,000,000 | 116,000,000 | 121,000,000 | 116,000,000 | 119,000,000 | 119,000,000 | 457,000,000 | 475,000,000 | 495,000,000 | ' |
Total expenses | ' | ' | ' | ' | ' | ' | ' | ' | 12,025,000,000 | 11,106,000,000 | 11,018,000,000 | ' |
Operating income (loss) | 793,000,000 | 828,000,000 | 838,000,000 | 800,000,000 | 726,000,000 | 788,000,000 | 792,000,000 | 677,000,000 | 3,259,000,000 | 2,983,000,000 | 2,619,000,000 | ' |
Interest (expense) income, net | ' | ' | ' | ' | ' | ' | ' | ' | -368,000,000 | -396,000,000 | -429,000,000 | ' |
Net loss on early extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -32,000,000 | 0 | ' |
Other items, net | ' | ' | ' | ' | ' | ' | ' | ' | 6,000,000 | 6,000,000 | -11,000,000 | ' |
Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of investee companies | ' | ' | ' | ' | ' | ' | ' | ' | 2,897,000,000 | 2,561,000,000 | 2,179,000,000 | ' |
(Provision) benefit for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -978,000,000 | -892,000,000 | -751,000,000 | ' |
Equity in earnings (loss) of investee companies, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | -46,000,000 | -35,000,000 | -37,000,000 | ' |
Net earnings (loss) from continuing operations | 465,000,000 | 469,000,000 | 476,000,000 | 463,000,000 | 403,000,000 | 385,000,000 | 452,000,000 | 394,000,000 | 1,873,000,000 | 1,634,000,000 | 1,391,000,000 | ' |
Net earnings (loss) from discontinued operations, net of tax (Note 3) | ' | ' | ' | ' | ' | ' | ' | ' | 6,000,000 | -60,000,000 | -86,000,000 | ' |
Net earnings (loss) | 470,000,000 | 494,000,000 | 472,000,000 | 443,000,000 | 393,000,000 | 391,000,000 | 427,000,000 | 363,000,000 | 1,879,000,000 | 1,574,000,000 | 1,305,000,000 | ' |
Total comprehensive income | ' | ' | ' | ' | ' | ' | ' | ' | 1,903,000,000 | 1,444,000,000 | 1,152,000,000 | ' |
ASSETS | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 397,000,000 | ' | ' | ' | 708,000,000 | ' | ' | ' | 397,000,000 | 708,000,000 | 660,000,000 | ' |
Receivables, net | 3,415,000,000 | ' | ' | ' | 3,137,000,000 | ' | ' | ' | 3,415,000,000 | 3,137,000,000 | ' | ' |
Programming and other inventory (Note 5) | 772,000,000 | ' | ' | ' | 859,000,000 | ' | ' | ' | 772,000,000 | 859,000,000 | ' | ' |
Prepaid expenses and other current assets | 786,000,000 | ' | ' | ' | 1,016,000,000 | ' | ' | ' | 786,000,000 | 1,016,000,000 | ' | ' |
Total current assets | 5,370,000,000 | ' | ' | ' | 5,720,000,000 | ' | ' | ' | 5,370,000,000 | 5,720,000,000 | ' | ' |
Property and equipment | 5,023,000,000 | ' | ' | ' | 4,988,000,000 | ' | ' | ' | 5,023,000,000 | 4,988,000,000 | ' | ' |
Less accumulated depreciation and amortization | 2,787,000,000 | ' | ' | ' | 2,717,000,000 | ' | ' | ' | 2,787,000,000 | 2,717,000,000 | ' | ' |
Net property and equipment | 2,236,000,000 | ' | ' | ' | 2,271,000,000 | ' | ' | ' | 2,236,000,000 | 2,271,000,000 | ' | ' |
Programming and other inventory (Note 5) | 1,697,000,000 | ' | ' | ' | 1,582,000,000 | ' | ' | ' | 1,697,000,000 | 1,582,000,000 | ' | ' |
Goodwill | 8,562,000,000 | ' | ' | ' | 8,567,000,000 | ' | ' | ' | 8,562,000,000 | 8,567,000,000 | 8,571,000,000 | ' |
Intangible assets (Note 2) | 6,430,000,000 | ' | ' | ' | 6,515,000,000 | ' | ' | ' | 6,430,000,000 | 6,515,000,000 | ' | ' |
Investments in consolidated subsidiaries | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Other assets | 2,092,000,000 | ' | ' | ' | 1,811,000,000 | ' | ' | ' | 2,092,000,000 | 1,811,000,000 | ' | ' |
Intercompany | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Total assets | 26,387,000,000 | ' | ' | ' | 26,466,000,000 | ' | ' | ' | 26,387,000,000 | 26,466,000,000 | ' | ' |
LIABILITIES AND STOCKHOLDERS' EQUITY | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts payable | 371,000,000 | ' | ' | ' | 386,000,000 | ' | ' | ' | 371,000,000 | 386,000,000 | ' | ' |
Participants' share and royalties payable | 1,008,000,000 | ' | ' | ' | 953,000,000 | ' | ' | ' | 1,008,000,000 | 953,000,000 | ' | ' |
Program rights | 398,000,000 | ' | ' | ' | 455,000,000 | ' | ' | ' | 398,000,000 | 455,000,000 | ' | ' |
Commercial paper | 475,000,000 | ' | ' | ' | 0 | ' | ' | ' | 475,000,000 | 0 | ' | ' |
Current portion of long-term debt | 21,000,000 | ' | ' | ' | 18,000,000 | ' | ' | ' | 21,000,000 | 18,000,000 | ' | ' |
Accrued expenses and other current liabilities | 1,934,000,000 | ' | ' | ' | 2,129,000,000 | ' | ' | ' | 1,934,000,000 | 2,129,000,000 | ' | ' |
Total current liabilities | 4,207,000,000 | ' | ' | ' | 3,941,000,000 | ' | ' | ' | 4,207,000,000 | 3,941,000,000 | ' | ' |
Long-term debt (Note 8) | 5,940,000,000 | ' | ' | ' | 5,904,000,000 | ' | ' | ' | 5,940,000,000 | 5,904,000,000 | ' | ' |
Other liabilities | 6,274,000,000 | ' | ' | ' | 6,408,000,000 | ' | ' | ' | 6,274,000,000 | 6,408,000,000 | ' | ' |
Intercompany | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Stockholders' Equity: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Common stock | 1,000,000 | ' | ' | ' | 1,000,000 | ' | ' | ' | 1,000,000 | 1,000,000 | ' | ' |
Additional paid-in capital | 43,474,000,000 | ' | ' | ' | 43,424,000,000 | ' | ' | ' | 43,474,000,000 | 43,424,000,000 | ' | ' |
Retained earnings (deficit) | -24,890,000,000 | ' | ' | ' | -26,769,000,000 | ' | ' | ' | -24,890,000,000 | -26,769,000,000 | ' | ' |
Accumulated other comprehensive income (loss) | -545,000,000 | ' | ' | ' | -569,000,000 | ' | ' | ' | -545,000,000 | -569,000,000 | -439,000,000 | -286,000,000 |
Stockholders' equity including treasury stock | 18,040,000,000 | ' | ' | ' | 16,087,000,000 | ' | ' | ' | 18,040,000,000 | 16,087,000,000 | ' | ' |
Less treasury stock, at cost | 8,074,000,000 | ' | ' | ' | 5,874,000,000 | ' | ' | ' | 8,074,000,000 | 5,874,000,000 | ' | ' |
Total Stockholders' Equity | 9,966,000,000 | ' | ' | ' | 10,213,000,000 | ' | ' | ' | 9,966,000,000 | 10,213,000,000 | 9,908,000,000 | ' |
Total Liabilities and Stockholders' Equity | 26,387,000,000 | ' | ' | ' | 26,466,000,000 | ' | ' | ' | 26,387,000,000 | 26,466,000,000 | ' | ' |
Condensed Consolidating Statement of Cash Flows [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net cash flow provided by (used for) operating activities | ' | ' | ' | ' | ' | ' | ' | ' | 1,873,000,000 | 1,815,000,000 | 1,749,000,000 | ' |
Investing Activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions, net of cash acquired | ' | ' | ' | ' | ' | ' | ' | ' | -32,000,000 | -146,000,000 | -75,000,000 | ' |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | -270,000,000 | -254,000,000 | -245,000,000 | ' |
Investments in and advances to investee companies | ' | ' | ' | ' | ' | ' | ' | ' | -176,000,000 | -91,000,000 | -79,000,000 | ' |
Proceeds from sale of investments | ' | ' | ' | ' | ' | ' | ' | ' | 30,000,000 | 13,000,000 | 12,000,000 | ' |
Proceeds from dispositions | ' | ' | ' | ' | ' | ' | ' | ' | 193,000,000 | 49,000,000 | 18,000,000 | ' |
Net cash flow provided by (used for) investing activities from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | -255,000,000 | -429,000,000 | -369,000,000 | ' |
Net cash flow provided by (used for) investing activities from discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | -17,000,000 | -22,000,000 | -20,000,000 | ' |
Net cash flow provided by (used for) investing activities | ' | ' | ' | ' | ' | ' | ' | ' | -272,000,000 | -451,000,000 | -389,000,000 | ' |
Financing Activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from short-term debt borrowings, net | ' | ' | ' | ' | ' | ' | ' | ' | 475,000,000 | 0 | 0 | ' |
Proceeds from issuance of notes | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 1,566,000,000 | 0 | ' |
Repayment of notes and debentures | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -1,583,000,000 | 0 | ' |
Payment of capital lease obligations | ' | ' | ' | ' | ' | ' | ' | ' | -17,000,000 | -19,000,000 | -19,000,000 | ' |
Payment of contingent consideration | ' | ' | ' | ' | ' | ' | ' | ' | -30,000,000 | -33,000,000 | 0 | ' |
Dividends | ' | ' | ' | ' | ' | ' | ' | ' | -300,000,000 | -276,000,000 | -206,000,000 | ' |
Purchase of Company common stock | ' | ' | ' | ' | ' | ' | ' | ' | -2,185,000,000 | -1,137,000,000 | -1,012,000,000 | ' |
Payment of payroll taxes in lieu of issuing shares for stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | -145,000,000 | -105,000,000 | -82,000,000 | ' |
Proceeds from exercise of stock options | ' | ' | ' | ' | ' | ' | ' | ' | 146,000,000 | 168,000,000 | 72,000,000 | ' |
Excess tax benefit from stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 148,000,000 | 103,000,000 | 72,000,000 | ' |
Other financing activities | ' | ' | ' | ' | ' | ' | ' | ' | -4,000,000 | 0 | -5,000,000 | ' |
Increase (decrease) in intercompany payables | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Net cash flow provided by (used for) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | -1,912,000,000 | -1,316,000,000 | -1,180,000,000 | ' |
Net increase (decrease) in cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | -311,000,000 | 48,000,000 | 180,000,000 | ' |
Cash and cash equivalents at beginning of year | ' | ' | ' | 708,000,000 | ' | ' | ' | 660,000,000 | 708,000,000 | 660,000,000 | 480,000,000 | ' |
Cash and cash equivalents at end of year | 397,000,000 | ' | ' | ' | 708,000,000 | ' | ' | ' | 397,000,000 | 708,000,000 | 660,000,000 | ' |
Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Consolidating Statement of Operations [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Total expenses | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Interest (expense) income, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Net loss on early extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Other items, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of investee companies | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
(Provision) benefit for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Equity in earnings (loss) of investee companies, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | -3,456,000,000 | -3,029,000,000 | -2,922,000,000 | ' |
Net earnings (loss) from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | -3,456,000,000 | -3,029,000,000 | -2,922,000,000 | ' |
Net earnings (loss) from discontinued operations, net of tax (Note 3) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Net earnings (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -3,456,000,000 | -3,029,000,000 | -2,922,000,000 | ' |
Total comprehensive income | ' | ' | ' | ' | ' | ' | ' | ' | -3,276,000,000 | -3,030,000,000 | -2,905,000,000 | ' |
ASSETS | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | 0 | ' |
Receivables, net | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Programming and other inventory (Note 5) | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Prepaid expenses and other current assets | -26,000,000 | ' | ' | ' | -26,000,000 | ' | ' | ' | -26,000,000 | -26,000,000 | ' | ' |
Total current assets | -26,000,000 | ' | ' | ' | -26,000,000 | ' | ' | ' | -26,000,000 | -26,000,000 | ' | ' |
Property and equipment | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Less accumulated depreciation and amortization | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Net property and equipment | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Programming and other inventory (Note 5) | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Goodwill | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Intangible assets (Note 2) | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Investments in consolidated subsidiaries | -50,865,000,000 | ' | ' | ' | -47,786,000,000 | ' | ' | ' | -50,865,000,000 | -47,786,000,000 | ' | ' |
Other assets | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Intercompany | -21,653,000,000 | ' | ' | ' | -19,777,000,000 | ' | ' | ' | -21,653,000,000 | -19,777,000,000 | ' | ' |
Total assets | -72,544,000,000 | ' | ' | ' | -67,589,000,000 | ' | ' | ' | -72,544,000,000 | -67,589,000,000 | ' | ' |
LIABILITIES AND STOCKHOLDERS' EQUITY | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts payable | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Participants' share and royalties payable | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Program rights | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Commercial paper | 0 | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Current portion of long-term debt | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Accrued expenses and other current liabilities | -26,000,000 | ' | ' | ' | -26,000,000 | ' | ' | ' | -26,000,000 | -26,000,000 | ' | ' |
Total current liabilities | -26,000,000 | ' | ' | ' | -26,000,000 | ' | ' | ' | -26,000,000 | -26,000,000 | ' | ' |
Long-term debt (Note 8) | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Other liabilities | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Intercompany | -21,653,000,000 | ' | ' | ' | -19,777,000,000 | ' | ' | ' | -21,653,000,000 | -19,777,000,000 | ' | ' |
Stockholders' Equity: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock | -126,000,000 | ' | ' | ' | -128,000,000 | ' | ' | ' | -126,000,000 | -128,000,000 | ' | ' |
Common stock | -1,076,000,000 | ' | ' | ' | -1,259,000,000 | ' | ' | ' | -1,076,000,000 | -1,259,000,000 | ' | ' |
Additional paid-in capital | -61,678,000,000 | ' | ' | ' | -61,690,000,000 | ' | ' | ' | -61,678,000,000 | -61,690,000,000 | ' | ' |
Retained earnings (deficit) | 7,000,000,000 | ' | ' | ' | 10,456,000,000 | ' | ' | ' | 7,000,000,000 | 10,456,000,000 | ' | ' |
Accumulated other comprehensive income (loss) | -116,000,000 | ' | ' | ' | -296,000,000 | ' | ' | ' | -116,000,000 | -296,000,000 | ' | ' |
Stockholders' equity including treasury stock | -55,996,000,000 | ' | ' | ' | -52,917,000,000 | ' | ' | ' | -55,996,000,000 | -52,917,000,000 | ' | ' |
Less treasury stock, at cost | -5,131,000,000 | ' | ' | ' | -5,131,000,000 | ' | ' | ' | -5,131,000,000 | -5,131,000,000 | ' | ' |
Total Stockholders' Equity | -50,865,000,000 | ' | ' | ' | -47,786,000,000 | ' | ' | ' | -50,865,000,000 | -47,786,000,000 | ' | ' |
Total Liabilities and Stockholders' Equity | -72,544,000,000 | ' | ' | ' | -67,589,000,000 | ' | ' | ' | -72,544,000,000 | -67,589,000,000 | ' | ' |
Condensed Consolidating Statement of Cash Flows [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net cash flow provided by (used for) operating activities | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Investing Activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions, net of cash acquired | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Investments in and advances to investee companies | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Proceeds from sale of investments | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Proceeds from dispositions | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Net cash flow provided by (used for) investing activities from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Net cash flow provided by (used for) investing activities from discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Net cash flow provided by (used for) investing activities | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Financing Activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from short-term debt borrowings, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Proceeds from issuance of notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Repayment of notes and debentures | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Payment of capital lease obligations | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Payment of contingent consideration | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' |
Dividends | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Purchase of Company common stock | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Payment of payroll taxes in lieu of issuing shares for stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Proceeds from exercise of stock options | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Excess tax benefit from stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Other financing activities | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 0 | ' |
Increase (decrease) in intercompany payables | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Net cash flow provided by (used for) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Net increase (decrease) in cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Cash and cash equivalents at beginning of year | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | 0 | 0 | ' |
Cash and cash equivalents at end of year | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | 0 | ' |
CBS Corp. [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Consolidating Statement of Operations [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 145,000,000 | 157,000,000 | 131,000,000 | ' |
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating | ' | ' | ' | ' | ' | ' | ' | ' | 69,000,000 | 74,000,000 | 72,000,000 | ' |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 65,000,000 | 87,000,000 | 109,000,000 | ' |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 6,000,000 | 6,000,000 | 5,000,000 | ' |
Total expenses | ' | ' | ' | ' | ' | ' | ' | ' | 140,000,000 | 167,000,000 | 186,000,000 | ' |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 5,000,000 | -10,000,000 | -55,000,000 | ' |
Interest (expense) income, net | ' | ' | ' | ' | ' | ' | ' | ' | -457,000,000 | -480,000,000 | -514,000,000 | ' |
Net loss on early extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | -32,000,000 | ' | ' |
Other items, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 1,000,000 | 0 | ' |
Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of investee companies | ' | ' | ' | ' | ' | ' | ' | ' | -452,000,000 | -521,000,000 | -569,000,000 | ' |
(Provision) benefit for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 154,000,000 | 185,000,000 | 201,000,000 | ' |
Equity in earnings (loss) of investee companies, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 2,168,000,000 | 1,884,000,000 | 1,666,000,000 | ' |
Net earnings (loss) from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | 1,870,000,000 | 1,548,000,000 | 1,298,000,000 | ' |
Net earnings (loss) from discontinued operations, net of tax (Note 3) | ' | ' | ' | ' | ' | ' | ' | ' | 9,000,000 | 26,000,000 | 7,000,000 | ' |
Net earnings (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 1,879,000,000 | 1,574,000,000 | 1,305,000,000 | ' |
Total comprehensive income | ' | ' | ' | ' | ' | ' | ' | ' | 1,903,000,000 | 1,444,000,000 | 1,152,000,000 | ' |
ASSETS | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 80,000,000 | ' | ' | ' | 254,000,000 | ' | ' | ' | 80,000,000 | 254,000,000 | 134,000,000 | ' |
Receivables, net | 30,000,000 | ' | ' | ' | 31,000,000 | ' | ' | ' | 30,000,000 | 31,000,000 | ' | ' |
Programming and other inventory (Note 5) | 4,000,000 | ' | ' | ' | 5,000,000 | ' | ' | ' | 4,000,000 | 5,000,000 | ' | ' |
Prepaid expenses and other current assets | 179,000,000 | ' | ' | ' | 142,000,000 | ' | ' | ' | 179,000,000 | 142,000,000 | ' | ' |
Total current assets | 293,000,000 | ' | ' | ' | 432,000,000 | ' | ' | ' | 293,000,000 | 432,000,000 | ' | ' |
Property and equipment | 37,000,000 | ' | ' | ' | 39,000,000 | ' | ' | ' | 37,000,000 | 39,000,000 | ' | ' |
Less accumulated depreciation and amortization | 9,000,000 | ' | ' | ' | 8,000,000 | ' | ' | ' | 9,000,000 | 8,000,000 | ' | ' |
Net property and equipment | 28,000,000 | ' | ' | ' | 31,000,000 | ' | ' | ' | 28,000,000 | 31,000,000 | ' | ' |
Programming and other inventory (Note 5) | 5,000,000 | ' | ' | ' | 3,000,000 | ' | ' | ' | 5,000,000 | 3,000,000 | ' | ' |
Goodwill | 98,000,000 | ' | ' | ' | 98,000,000 | ' | ' | ' | 98,000,000 | 98,000,000 | ' | ' |
Intangible assets (Note 2) | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Investments in consolidated subsidiaries | 40,450,000,000 | ' | ' | ' | 38,658,000,000 | ' | ' | ' | 40,450,000,000 | 38,658,000,000 | ' | ' |
Other assets | 89,000,000 | ' | ' | ' | 171,000,000 | ' | ' | ' | 89,000,000 | 171,000,000 | ' | ' |
Intercompany | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Total assets | 40,963,000,000 | ' | ' | ' | 39,393,000,000 | ' | ' | ' | 40,963,000,000 | 39,393,000,000 | ' | ' |
LIABILITIES AND STOCKHOLDERS' EQUITY | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts payable | 1,000,000 | ' | ' | ' | 2,000,000 | ' | ' | ' | 1,000,000 | 2,000,000 | ' | ' |
Participants' share and royalties payable | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Program rights | 5,000,000 | ' | ' | ' | 6,000,000 | ' | ' | ' | 5,000,000 | 6,000,000 | ' | ' |
Commercial paper | 475,000,000 | ' | ' | ' | ' | ' | ' | ' | 475,000,000 | ' | ' | ' |
Current portion of long-term debt | 5,000,000 | ' | ' | ' | 5,000,000 | ' | ' | ' | 5,000,000 | 5,000,000 | ' | ' |
Accrued expenses and other current liabilities | 361,000,000 | ' | ' | ' | 345,000,000 | ' | ' | ' | 361,000,000 | 345,000,000 | ' | ' |
Total current liabilities | 847,000,000 | ' | ' | ' | 358,000,000 | ' | ' | ' | 847,000,000 | 358,000,000 | ' | ' |
Long-term debt (Note 8) | 5,791,000,000 | ' | ' | ' | 5,793,000,000 | ' | ' | ' | 5,791,000,000 | 5,793,000,000 | ' | ' |
Other liabilities | 2,706,000,000 | ' | ' | ' | 3,252,000,000 | ' | ' | ' | 2,706,000,000 | 3,252,000,000 | ' | ' |
Intercompany | 21,653,000,000 | ' | ' | ' | 19,777,000,000 | ' | ' | ' | 21,653,000,000 | 19,777,000,000 | ' | ' |
Stockholders' Equity: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Common stock | 1,000,000 | ' | ' | ' | 1,000,000 | ' | ' | ' | 1,000,000 | 1,000,000 | ' | ' |
Additional paid-in capital | 43,474,000,000 | ' | ' | ' | 43,424,000,000 | ' | ' | ' | 43,474,000,000 | 43,424,000,000 | ' | ' |
Retained earnings (deficit) | -24,890,000,000 | ' | ' | ' | -26,769,000,000 | ' | ' | ' | -24,890,000,000 | -26,769,000,000 | ' | ' |
Accumulated other comprehensive income (loss) | -545,000,000 | ' | ' | ' | -569,000,000 | ' | ' | ' | -545,000,000 | -569,000,000 | ' | ' |
Stockholders' equity including treasury stock | 18,040,000,000 | ' | ' | ' | 16,087,000,000 | ' | ' | ' | 18,040,000,000 | 16,087,000,000 | ' | ' |
Less treasury stock, at cost | 8,074,000,000 | ' | ' | ' | 5,874,000,000 | ' | ' | ' | 8,074,000,000 | 5,874,000,000 | ' | ' |
Total Stockholders' Equity | 9,966,000,000 | ' | ' | ' | 10,213,000,000 | ' | ' | ' | 9,966,000,000 | 10,213,000,000 | ' | ' |
Total Liabilities and Stockholders' Equity | 40,963,000,000 | ' | ' | ' | 39,393,000,000 | ' | ' | ' | 40,963,000,000 | 39,393,000,000 | ' | ' |
Condensed Consolidating Statement of Cash Flows [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net cash flow provided by (used for) operating activities | ' | ' | ' | ' | ' | ' | ' | ' | -934,000,000 | -827,000,000 | -700,000,000 | ' |
Investing Activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions, net of cash acquired | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Investments in and advances to investee companies | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Proceeds from sale of investments | ' | ' | ' | ' | ' | ' | ' | ' | 23,000,000 | 9,000,000 | 8,000,000 | ' |
Proceeds from dispositions | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Net cash flow provided by (used for) investing activities from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | 23,000,000 | 9,000,000 | 8,000,000 | ' |
Net cash flow provided by (used for) investing activities from discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Net cash flow provided by (used for) investing activities | ' | ' | ' | ' | ' | ' | ' | ' | 23,000,000 | 9,000,000 | 8,000,000 | ' |
Financing Activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from short-term debt borrowings, net | ' | ' | ' | ' | ' | ' | ' | ' | 475,000,000 | ' | ' | ' |
Proceeds from issuance of notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,566,000,000 | ' | ' |
Repayment of notes and debentures | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,583,000,000 | ' | ' |
Payment of capital lease obligations | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Payment of contingent consideration | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' |
Dividends | ' | ' | ' | ' | ' | ' | ' | ' | -300,000,000 | -276,000,000 | -206,000,000 | ' |
Purchase of Company common stock | ' | ' | ' | ' | ' | ' | ' | ' | -2,185,000,000 | -1,137,000,000 | -1,012,000,000 | ' |
Payment of payroll taxes in lieu of issuing shares for stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | -145,000,000 | -105,000,000 | -82,000,000 | ' |
Proceeds from exercise of stock options | ' | ' | ' | ' | ' | ' | ' | ' | 146,000,000 | 168,000,000 | 72,000,000 | ' |
Excess tax benefit from stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 148,000,000 | 103,000,000 | 72,000,000 | ' |
Other financing activities | ' | ' | ' | ' | ' | ' | ' | ' | -4,000,000 | ' | -5,000,000 | ' |
Increase (decrease) in intercompany payables | ' | ' | ' | ' | ' | ' | ' | ' | 2,602,000,000 | 2,202,000,000 | 1,882,000,000 | ' |
Net cash flow provided by (used for) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | 737,000,000 | 938,000,000 | 721,000,000 | ' |
Net increase (decrease) in cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | -174,000,000 | 120,000,000 | 29,000,000 | ' |
Cash and cash equivalents at beginning of year | ' | ' | ' | 254,000,000 | ' | ' | ' | 134,000,000 | 254,000,000 | 134,000,000 | 105,000,000 | ' |
Cash and cash equivalents at end of year | 80,000,000 | ' | ' | ' | 254,000,000 | ' | ' | ' | 80,000,000 | 254,000,000 | 134,000,000 | ' |
CBS Operations Inc. [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Consolidating Statement of Operations [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 11,000,000 | 15,000,000 | 19,000,000 | ' |
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating | ' | ' | ' | ' | ' | ' | ' | ' | 8,000,000 | 8,000,000 | 8,000,000 | ' |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 332,000,000 | 255,000,000 | 247,000,000 | ' |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | 2,000,000 | 0 | ' |
Impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 14,000,000 | 14,000,000 | 15,000,000 | ' |
Total expenses | ' | ' | ' | ' | ' | ' | ' | ' | 355,000,000 | 279,000,000 | 270,000,000 | ' |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | -344,000,000 | -264,000,000 | -251,000,000 | ' |
Interest (expense) income, net | ' | ' | ' | ' | ' | ' | ' | ' | -369,000,000 | -351,000,000 | -341,000,000 | ' |
Net loss on early extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Other items, net | ' | ' | ' | ' | ' | ' | ' | ' | 4,000,000 | -5,000,000 | 6,000,000 | ' |
Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of investee companies | ' | ' | ' | ' | ' | ' | ' | ' | -709,000,000 | -620,000,000 | -586,000,000 | ' |
(Provision) benefit for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | 242,000,000 | 218,000,000 | 207,000,000 | ' |
Equity in earnings (loss) of investee companies, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | 1,288,000,000 | 1,145,000,000 | 1,256,000,000 | ' |
Net earnings (loss) from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | 821,000,000 | 743,000,000 | 877,000,000 | ' |
Net earnings (loss) from discontinued operations, net of tax (Note 3) | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -1,000,000 | 7,000,000 | ' |
Net earnings (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 821,000,000 | 742,000,000 | 884,000,000 | ' |
Total comprehensive income | ' | ' | ' | ' | ' | ' | ' | ' | 818,000,000 | 735,000,000 | 884,000,000 | ' |
ASSETS | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 1,000,000 | ' | ' | ' | 1,000,000 | ' | ' | ' | 1,000,000 | 1,000,000 | 1,000,000 | ' |
Receivables, net | 2,000,000 | ' | ' | ' | 2,000,000 | ' | ' | ' | 2,000,000 | 2,000,000 | ' | ' |
Programming and other inventory (Note 5) | 2,000,000 | ' | ' | ' | 3,000,000 | ' | ' | ' | 2,000,000 | 3,000,000 | ' | ' |
Prepaid expenses and other current assets | 18,000,000 | ' | ' | ' | 14,000,000 | ' | ' | ' | 18,000,000 | 14,000,000 | ' | ' |
Total current assets | 23,000,000 | ' | ' | ' | 20,000,000 | ' | ' | ' | 23,000,000 | 20,000,000 | ' | ' |
Property and equipment | 137,000,000 | ' | ' | ' | 117,000,000 | ' | ' | ' | 137,000,000 | 117,000,000 | ' | ' |
Less accumulated depreciation and amortization | 83,000,000 | ' | ' | ' | 69,000,000 | ' | ' | ' | 83,000,000 | 69,000,000 | ' | ' |
Net property and equipment | 54,000,000 | ' | ' | ' | 48,000,000 | ' | ' | ' | 54,000,000 | 48,000,000 | ' | ' |
Programming and other inventory (Note 5) | 0 | ' | ' | ' | 2,000,000 | ' | ' | ' | 0 | 2,000,000 | ' | ' |
Goodwill | 62,000,000 | ' | ' | ' | 62,000,000 | ' | ' | ' | 62,000,000 | 62,000,000 | ' | ' |
Intangible assets (Note 2) | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Investments in consolidated subsidiaries | 10,415,000,000 | ' | ' | ' | 9,128,000,000 | ' | ' | ' | 10,415,000,000 | 9,128,000,000 | ' | ' |
Other assets | 18,000,000 | ' | ' | ' | 14,000,000 | ' | ' | ' | 18,000,000 | 14,000,000 | ' | ' |
Intercompany | 3,230,000,000 | ' | ' | ' | 3,655,000,000 | ' | ' | ' | 3,230,000,000 | 3,655,000,000 | ' | ' |
Total assets | 13,802,000,000 | ' | ' | ' | 12,929,000,000 | ' | ' | ' | 13,802,000,000 | 12,929,000,000 | ' | ' |
LIABILITIES AND STOCKHOLDERS' EQUITY | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts payable | 8,000,000 | ' | ' | ' | 6,000,000 | ' | ' | ' | 8,000,000 | 6,000,000 | ' | ' |
Participants' share and royalties payable | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Program rights | 2,000,000 | ' | ' | ' | 4,000,000 | ' | ' | ' | 2,000,000 | 4,000,000 | ' | ' |
Commercial paper | 0 | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Current portion of long-term debt | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Accrued expenses and other current liabilities | 293,000,000 | ' | ' | ' | 286,000,000 | ' | ' | ' | 293,000,000 | 286,000,000 | ' | ' |
Total current liabilities | 303,000,000 | ' | ' | ' | 296,000,000 | ' | ' | ' | 303,000,000 | 296,000,000 | ' | ' |
Long-term debt (Note 8) | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Other liabilities | 303,000,000 | ' | ' | ' | 255,000,000 | ' | ' | ' | 303,000,000 | 255,000,000 | ' | ' |
Intercompany | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Stockholders' Equity: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Common stock | 123,000,000 | ' | ' | ' | 123,000,000 | ' | ' | ' | 123,000,000 | 123,000,000 | ' | ' |
Additional paid-in capital | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Retained earnings (deficit) | 13,414,000,000 | ' | ' | ' | 12,593,000,000 | ' | ' | ' | 13,414,000,000 | 12,593,000,000 | ' | ' |
Accumulated other comprehensive income (loss) | -10,000,000 | ' | ' | ' | -7,000,000 | ' | ' | ' | -10,000,000 | -7,000,000 | ' | ' |
Stockholders' equity including treasury stock | 13,527,000,000 | ' | ' | ' | 12,709,000,000 | ' | ' | ' | 13,527,000,000 | 12,709,000,000 | ' | ' |
Less treasury stock, at cost | 331,000,000 | ' | ' | ' | 331,000,000 | ' | ' | ' | 331,000,000 | 331,000,000 | ' | ' |
Total Stockholders' Equity | 13,196,000,000 | ' | ' | ' | 12,378,000,000 | ' | ' | ' | 13,196,000,000 | 12,378,000,000 | ' | ' |
Total Liabilities and Stockholders' Equity | 13,802,000,000 | ' | ' | ' | 12,929,000,000 | ' | ' | ' | 13,802,000,000 | 12,929,000,000 | ' | ' |
Condensed Consolidating Statement of Cash Flows [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net cash flow provided by (used for) operating activities | ' | ' | ' | ' | ' | ' | ' | ' | -187,000,000 | -179,000,000 | -181,000,000 | ' |
Investing Activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions, net of cash acquired | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | -27,000,000 | -21,000,000 | -14,000,000 | ' |
Investments in and advances to investee companies | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Proceeds from sale of investments | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | 2,000,000 | 4,000,000 | ' |
Proceeds from dispositions | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Net cash flow provided by (used for) investing activities from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | -26,000,000 | -19,000,000 | -10,000,000 | ' |
Net cash flow provided by (used for) investing activities from discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Net cash flow provided by (used for) investing activities | ' | ' | ' | ' | ' | ' | ' | ' | -26,000,000 | -19,000,000 | -10,000,000 | ' |
Financing Activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from short-term debt borrowings, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Proceeds from issuance of notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Repayment of notes and debentures | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Payment of capital lease obligations | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Payment of contingent consideration | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | ' | ' |
Dividends | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Purchase of Company common stock | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Payment of payroll taxes in lieu of issuing shares for stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Proceeds from exercise of stock options | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Excess tax benefit from stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Other financing activities | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 0 | ' |
Increase (decrease) in intercompany payables | ' | ' | ' | ' | ' | ' | ' | ' | 213,000,000 | 198,000,000 | 191,000,000 | ' |
Net cash flow provided by (used for) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | 213,000,000 | 198,000,000 | 191,000,000 | ' |
Net increase (decrease) in cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Cash and cash equivalents at beginning of year | ' | ' | ' | 1,000,000 | ' | ' | ' | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | ' |
Cash and cash equivalents at end of year | 1,000,000 | ' | ' | ' | 1,000,000 | ' | ' | ' | 1,000,000 | 1,000,000 | 1,000,000 | ' |
Non-Guarantor Affiliates [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Consolidating Statement of Operations [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 15,128,000,000 | 13,917,000,000 | 13,487,000,000 | ' |
Expenses: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Operating | ' | ' | ' | ' | ' | ' | ' | ' | 8,736,000,000 | 7,885,000,000 | 7,802,000,000 | ' |
Selling, general and administrative | ' | ' | ' | ' | ' | ' | ' | ' | 2,338,000,000 | 2,292,000,000 | 2,242,000,000 | ' |
Restructuring charges | ' | ' | ' | ' | ' | ' | ' | ' | 19,000,000 | 17,000,000 | 43,000,000 | ' |
Impairment charges | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11,000,000 | ' | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 437,000,000 | 455,000,000 | 475,000,000 | ' |
Total expenses | ' | ' | ' | ' | ' | ' | ' | ' | 11,530,000,000 | 10,660,000,000 | 10,562,000,000 | ' |
Operating income (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 3,598,000,000 | 3,257,000,000 | 2,925,000,000 | ' |
Interest (expense) income, net | ' | ' | ' | ' | ' | ' | ' | ' | 458,000,000 | 435,000,000 | 426,000,000 | ' |
Net loss on early extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Other items, net | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | 10,000,000 | -17,000,000 | ' |
Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of investee companies | ' | ' | ' | ' | ' | ' | ' | ' | 4,058,000,000 | 3,702,000,000 | 3,334,000,000 | ' |
(Provision) benefit for income taxes | ' | ' | ' | ' | ' | ' | ' | ' | -1,374,000,000 | -1,295,000,000 | -1,159,000,000 | ' |
Equity in earnings (loss) of investee companies, net of tax | ' | ' | ' | ' | ' | ' | ' | ' | -46,000,000 | -35,000,000 | -37,000,000 | ' |
Net earnings (loss) from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | 2,638,000,000 | 2,372,000,000 | 2,138,000,000 | ' |
Net earnings (loss) from discontinued operations, net of tax (Note 3) | ' | ' | ' | ' | ' | ' | ' | ' | -3,000,000 | -85,000,000 | -100,000,000 | ' |
Net earnings (loss) | ' | ' | ' | ' | ' | ' | ' | ' | 2,635,000,000 | 2,287,000,000 | 2,038,000,000 | ' |
Total comprehensive income | ' | ' | ' | ' | ' | ' | ' | ' | 2,458,000,000 | 2,295,000,000 | 2,021,000,000 | ' |
ASSETS | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | 316,000,000 | ' | ' | ' | 453,000,000 | ' | ' | ' | 316,000,000 | 453,000,000 | 525,000,000 | ' |
Receivables, net | 3,383,000,000 | ' | ' | ' | 3,104,000,000 | ' | ' | ' | 3,383,000,000 | 3,104,000,000 | ' | ' |
Programming and other inventory (Note 5) | 766,000,000 | ' | ' | ' | 851,000,000 | ' | ' | ' | 766,000,000 | 851,000,000 | ' | ' |
Prepaid expenses and other current assets | 615,000,000 | ' | ' | ' | 886,000,000 | ' | ' | ' | 615,000,000 | 886,000,000 | ' | ' |
Total current assets | 5,080,000,000 | ' | ' | ' | 5,294,000,000 | ' | ' | ' | 5,080,000,000 | 5,294,000,000 | ' | ' |
Property and equipment | 4,849,000,000 | ' | ' | ' | 4,832,000,000 | ' | ' | ' | 4,849,000,000 | 4,832,000,000 | ' | ' |
Less accumulated depreciation and amortization | 2,695,000,000 | ' | ' | ' | 2,640,000,000 | ' | ' | ' | 2,695,000,000 | 2,640,000,000 | ' | ' |
Net property and equipment | 2,154,000,000 | ' | ' | ' | 2,192,000,000 | ' | ' | ' | 2,154,000,000 | 2,192,000,000 | ' | ' |
Programming and other inventory (Note 5) | 1,692,000,000 | ' | ' | ' | 1,577,000,000 | ' | ' | ' | 1,692,000,000 | 1,577,000,000 | ' | ' |
Goodwill | 8,402,000,000 | ' | ' | ' | 8,407,000,000 | ' | ' | ' | 8,402,000,000 | 8,407,000,000 | ' | ' |
Intangible assets (Note 2) | 6,430,000,000 | ' | ' | ' | 6,515,000,000 | ' | ' | ' | 6,430,000,000 | 6,515,000,000 | ' | ' |
Investments in consolidated subsidiaries | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Other assets | 1,985,000,000 | ' | ' | ' | 1,626,000,000 | ' | ' | ' | 1,985,000,000 | 1,626,000,000 | ' | ' |
Intercompany | 18,423,000,000 | ' | ' | ' | 16,122,000,000 | ' | ' | ' | 18,423,000,000 | 16,122,000,000 | ' | ' |
Total assets | 44,166,000,000 | ' | ' | ' | 41,733,000,000 | ' | ' | ' | 44,166,000,000 | 41,733,000,000 | ' | ' |
LIABILITIES AND STOCKHOLDERS' EQUITY | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Accounts payable | 362,000,000 | ' | ' | ' | 378,000,000 | ' | ' | ' | 362,000,000 | 378,000,000 | ' | ' |
Participants' share and royalties payable | 1,008,000,000 | ' | ' | ' | 953,000,000 | ' | ' | ' | 1,008,000,000 | 953,000,000 | ' | ' |
Program rights | 391,000,000 | ' | ' | ' | 445,000,000 | ' | ' | ' | 391,000,000 | 445,000,000 | ' | ' |
Commercial paper | 0 | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Current portion of long-term debt | 16,000,000 | ' | ' | ' | 13,000,000 | ' | ' | ' | 16,000,000 | 13,000,000 | ' | ' |
Accrued expenses and other current liabilities | 1,306,000,000 | ' | ' | ' | 1,524,000,000 | ' | ' | ' | 1,306,000,000 | 1,524,000,000 | ' | ' |
Total current liabilities | 3,083,000,000 | ' | ' | ' | 3,313,000,000 | ' | ' | ' | 3,083,000,000 | 3,313,000,000 | ' | ' |
Long-term debt (Note 8) | 149,000,000 | ' | ' | ' | 111,000,000 | ' | ' | ' | 149,000,000 | 111,000,000 | ' | ' |
Other liabilities | 3,265,000,000 | ' | ' | ' | 2,901,000,000 | ' | ' | ' | 3,265,000,000 | 2,901,000,000 | ' | ' |
Intercompany | 0 | ' | ' | ' | 0 | ' | ' | ' | 0 | 0 | ' | ' |
Stockholders' Equity: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Preferred stock | 126,000,000 | ' | ' | ' | 128,000,000 | ' | ' | ' | 126,000,000 | 128,000,000 | ' | ' |
Common stock | 953,000,000 | ' | ' | ' | 1,136,000,000 | ' | ' | ' | 953,000,000 | 1,136,000,000 | ' | ' |
Additional paid-in capital | 61,678,000,000 | ' | ' | ' | 61,690,000,000 | ' | ' | ' | 61,678,000,000 | 61,690,000,000 | ' | ' |
Retained earnings (deficit) | -20,414,000,000 | ' | ' | ' | -23,049,000,000 | ' | ' | ' | -20,414,000,000 | -23,049,000,000 | ' | ' |
Accumulated other comprehensive income (loss) | 126,000,000 | ' | ' | ' | 303,000,000 | ' | ' | ' | 126,000,000 | 303,000,000 | ' | ' |
Stockholders' equity including treasury stock | 42,469,000,000 | ' | ' | ' | 40,208,000,000 | ' | ' | ' | 42,469,000,000 | 40,208,000,000 | ' | ' |
Less treasury stock, at cost | 4,800,000,000 | ' | ' | ' | 4,800,000,000 | ' | ' | ' | 4,800,000,000 | 4,800,000,000 | ' | ' |
Total Stockholders' Equity | 37,669,000,000 | ' | ' | ' | 35,408,000,000 | ' | ' | ' | 37,669,000,000 | 35,408,000,000 | ' | ' |
Total Liabilities and Stockholders' Equity | 44,166,000,000 | ' | ' | ' | 41,733,000,000 | ' | ' | ' | 44,166,000,000 | 41,733,000,000 | ' | ' |
Condensed Consolidating Statement of Cash Flows [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net cash flow provided by (used for) operating activities | ' | ' | ' | ' | ' | ' | ' | ' | 2,994,000,000 | 2,821,000,000 | 2,630,000,000 | ' |
Investing Activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisitions, net of cash acquired | ' | ' | ' | ' | ' | ' | ' | ' | -32,000,000 | -146,000,000 | -75,000,000 | ' |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | -243,000,000 | -233,000,000 | -231,000,000 | ' |
Investments in and advances to investee companies | ' | ' | ' | ' | ' | ' | ' | ' | -176,000,000 | -91,000,000 | -79,000,000 | ' |
Proceeds from sale of investments | ' | ' | ' | ' | ' | ' | ' | ' | 6,000,000 | 2,000,000 | 0 | ' |
Proceeds from dispositions | ' | ' | ' | ' | ' | ' | ' | ' | 193,000,000 | 49,000,000 | 18,000,000 | ' |
Net cash flow provided by (used for) investing activities from continuing operations | ' | ' | ' | ' | ' | ' | ' | ' | -252,000,000 | -419,000,000 | -367,000,000 | ' |
Net cash flow provided by (used for) investing activities from discontinued operations | ' | ' | ' | ' | ' | ' | ' | ' | -17,000,000 | -22,000,000 | -20,000,000 | ' |
Net cash flow provided by (used for) investing activities | ' | ' | ' | ' | ' | ' | ' | ' | -269,000,000 | -441,000,000 | -387,000,000 | ' |
Financing Activities: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from short-term debt borrowings, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' |
Proceeds from issuance of notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Repayment of notes and debentures | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Payment of capital lease obligations | ' | ' | ' | ' | ' | ' | ' | ' | -17,000,000 | -19,000,000 | -19,000,000 | ' |
Payment of contingent consideration | ' | ' | ' | ' | ' | ' | ' | ' | -30,000,000 | -33,000,000 | ' | ' |
Dividends | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Purchase of Company common stock | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Payment of payroll taxes in lieu of issuing shares for stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Proceeds from exercise of stock options | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Excess tax benefit from stock-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | ' |
Other financing activities | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 0 | ' |
Increase (decrease) in intercompany payables | ' | ' | ' | ' | ' | ' | ' | ' | -2,815,000,000 | -2,400,000,000 | -2,073,000,000 | ' |
Net cash flow provided by (used for) financing activities | ' | ' | ' | ' | ' | ' | ' | ' | -2,862,000,000 | -2,452,000,000 | -2,092,000,000 | ' |
Net increase (decrease) in cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | -137,000,000 | -72,000,000 | 151,000,000 | ' |
Cash and cash equivalents at beginning of year | ' | ' | ' | 453,000,000 | ' | ' | ' | 525,000,000 | 453,000,000 | 525,000,000 | 374,000,000 | ' |
Cash and cash equivalents at end of year | $316,000,000 | ' | ' | ' | $453,000,000 | ' | ' | ' | $316,000,000 | $453,000,000 | $525,000,000 | ' |
Valuation_and_Qualifying_Accou
Valuation and Qualifying Accounts (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Allowance For Doubtful Accounts [Member] | ' | ' | ' |
Movement in valuation allowances and reserves rollforward | ' | ' | ' |
Valuation allowances and qualifying accounts, beginning balance | $81 | $100 | $117 |
Balance acquired through acquisitions | 0 | 0 | 0 |
Charged to costs and expenses | 15 | 17 | 24 |
Charged to other accounts | 0 | 0 | 9 |
Deductions | 20 | 36 | 50 |
Valuation allowance and qualifying accounts, ending balance | 76 | 81 | 100 |
Valuation Allowance On Deferred Tax Assets [Member] | ' | ' | ' |
Movement in valuation allowances and reserves rollforward | ' | ' | ' |
Valuation allowances and qualifying accounts, beginning balance | 249 | 235 | 247 |
Balance acquired through acquisitions | 0 | 0 | 0 |
Charged to costs and expenses | 453 | 38 | 17 |
Charged to other accounts | 0 | 0 | 0 |
Deductions | 58 | 24 | 29 |
Valuation allowance and qualifying accounts, ending balance | 644 | 249 | 235 |
Inventory Valuation Reserve [Member] | ' | ' | ' |
Movement in valuation allowances and reserves rollforward | ' | ' | ' |
Valuation allowances and qualifying accounts, beginning balance | 32 | 27 | 22 |
Balance acquired through acquisitions | 0 | 0 | 0 |
Charged to costs and expenses | 15 | 13 | 14 |
Charged to other accounts | 0 | 0 | 0 |
Deductions | 12 | 8 | 9 |
Valuation allowance and qualifying accounts, ending balance | $35 | $32 | $27 |