Cover
Cover | 12 Months Ended |
Dec. 31, 2023 | |
Document Information [Line Items] | |
Document Type | PRE 14A |
Amendment Flag | false |
Entity Information [Line Items] | |
Entity Registrant Name | Paramount Global |
Entity Central Index Key | 0000813828 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure | 12 Months Ended | |||
Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2020 USD ($) | |
Pay vs Performance Disclosure | ||||
Pay vs Performance Disclosure, Table | PAY VERSUS PERFORMANCE As required by applicable SEC rules, we are providing the following information about the relationship of “compensation actually paid” (“CAP”) to our principal executive officer (“PEO”) and other NEOs (“Non-PEO pay-for-performance Pay Versus Performance Table Pay Versus Performance Fiscal Year SCT Total ($)(1) Compensation ($) (2) Average Non-PEO ($) (2)(3) Average Non-PEO ($) (2)(3) Value of Initial Fixed $100 ($) Net ($ in Company (7) Total Peer Group 2023 31,257,129 22,339,289 5,006,453 3,950,514 Class B 39.86 155.53 (608 ) -12.38 % Class A 48.85 — 2022 32,046,006 14,626,030 4,497,431 2,453,046 Class B 44.52 93.66 1,104 -44.07 % Class A 47.85 — 2021 20,035,212 12,873,214 2,802,710 2,132,649 Class B 76.53 166.98 4,543 -19.00 % Class A 78.61 — 2020 38,973,768 34,147,810 8,779,994 8,824,614 Class B 92.39 131.54 2,422 -11.22 % Class A 87.29 — (1) PEO reflected in this table for each of the years shown is Mr. Bakish. “SCT Total” means the amount, or, for non-PEO (2) To calculate CAP for 2023 in accordance with applicable SEC rules, the following amounts were either added to or deducted from the applicable SCT Total as noted below: 2023 Adjustments PEO Average non-PEO Deduction for Amounts Reported under the “Stock Awards” and “Option Awards” Columns in the Summary Compensation Table for Applicable FY (15,535,109 ) (2,177,018 ) Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, determined as of Applicable FY End 9,343,838 1,360,211 Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Vested during Applicable FY, determined as of Vesting Date — — Increase/deduction for Awards Granted during Prior FY that were Outstanding and Unvested as of Applicable FY End, determined based on change in ASC 718 Fair Value from Prior FY End to Applicable FY End (2,176,005 ) (239,013 ) Increase/deduction for Awards Granted during Prior FY that Vested During Applicable FY, determined based on change in ASC 718 Fair Value from Prior FY End to Vesting Date (766,103 ) (43,674 ) Deduction of ASC 718 Fair Value of Awards Granted during Prior FY that were Forfeited during Applicable FY, determined as of Prior FY End (98,357 ) (6,050 ) Increase based on Dividends or Other Earnings Paid during Applicable FY prior to Vesting Date 435,720 71,996 Deduction for Change in the Actuarial Present Values reported under the “Change in Pension Value and Nonqualified Deferred Compensation Earnings” Column of the Summary Compensation Table for Applicable FY (121,824 ) (22,391 ) Increase for Service Cost and, if applicable, Prior Service Cost for Pension Plans — — TOTAL ADJUSTMENTS (8,917,840 ) (1,055,939 ) (3) Dollar amounts represent the average of the applicable amounts to the Non-PEO Non-PEO Non-PEO (4) Cumulative TSR is calculated by dividing the sum of the cumulative amount of dividends for the measurement period, assuming dividend reinvestment, and the difference between the Company’s share price at the end and the beginning of the measurement period by the Company’s share price at the beginning of the measurement period. (5) Represents the weighted peer group TSR, weighted according to the respective companies’ stock market capitalization at the beginning of each period for which a return is indicated. In order to provide a TSR comparison consistent with that in our Annual Report on Form 10-K, S-K, (6) The dollar amounts reported represent the amount of net income reflected in the Company’s audited financial statements for the applicable year. (7) Stock Price Performance is calculated as the difference between the closing price of a share of our Class B Common Stock at each year’s fiscal year-end year-end, year-end. | |||
Company Selected Measure Name | Stock Price Performance | |||
Named Executive Officers, Footnote | Non-PEO Non-PEO | |||
Peer Group Issuers, Footnote | In order to provide a TSR comparison consistent with that in our Annual Report on Form 10-K, S-K, | |||
PEO Total Compensation Amount | $ 31,257,129 | $ 32,046,006 | $ 20,035,212 | $ 38,973,768 |
PEO Actually Paid Compensation Amount | $ 22,339,289 | 14,626,030 | 12,873,214 | 34,147,810 |
Adjustment To PEO Compensation, Footnote | (2) To calculate CAP for 2023 in accordance with applicable SEC rules, the following amounts were either added to or deducted from the applicable SCT Total as noted below: 2023 Adjustments PEO Average non-PEO Deduction for Amounts Reported under the “Stock Awards” and “Option Awards” Columns in the Summary Compensation Table for Applicable FY (15,535,109 ) (2,177,018 ) Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, determined as of Applicable FY End 9,343,838 1,360,211 Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Vested during Applicable FY, determined as of Vesting Date — — Increase/deduction for Awards Granted during Prior FY that were Outstanding and Unvested as of Applicable FY End, determined based on change in ASC 718 Fair Value from Prior FY End to Applicable FY End (2,176,005 ) (239,013 ) Increase/deduction for Awards Granted during Prior FY that Vested During Applicable FY, determined based on change in ASC 718 Fair Value from Prior FY End to Vesting Date (766,103 ) (43,674 ) Deduction of ASC 718 Fair Value of Awards Granted during Prior FY that were Forfeited during Applicable FY, determined as of Prior FY End (98,357 ) (6,050 ) Increase based on Dividends or Other Earnings Paid during Applicable FY prior to Vesting Date 435,720 71,996 Deduction for Change in the Actuarial Present Values reported under the “Change in Pension Value and Nonqualified Deferred Compensation Earnings” Column of the Summary Compensation Table for Applicable FY (121,824 ) (22,391 ) Increase for Service Cost and, if applicable, Prior Service Cost for Pension Plans — — TOTAL ADJUSTMENTS (8,917,840 ) (1,055,939 ) | |||
Non-PEO NEO Average Total Compensation Amount | $ 5,006,453 | 4,497,431 | 2,802,710 | 8,779,994 |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 3,950,514 | 2,453,046 | 2,132,649 | 8,824,614 |
Adjustment to Non-PEO NEO Compensation Footnote | (2) To calculate CAP for 2023 in accordance with applicable SEC rules, the following amounts were either added to or deducted from the applicable SCT Total as noted below: 2023 Adjustments PEO Average non-PEO Deduction for Amounts Reported under the “Stock Awards” and “Option Awards” Columns in the Summary Compensation Table for Applicable FY (15,535,109 ) (2,177,018 ) Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, determined as of Applicable FY End 9,343,838 1,360,211 Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Vested during Applicable FY, determined as of Vesting Date — — Increase/deduction for Awards Granted during Prior FY that were Outstanding and Unvested as of Applicable FY End, determined based on change in ASC 718 Fair Value from Prior FY End to Applicable FY End (2,176,005 ) (239,013 ) Increase/deduction for Awards Granted during Prior FY that Vested During Applicable FY, determined based on change in ASC 718 Fair Value from Prior FY End to Vesting Date (766,103 ) (43,674 ) Deduction of ASC 718 Fair Value of Awards Granted during Prior FY that were Forfeited during Applicable FY, determined as of Prior FY End (98,357 ) (6,050 ) Increase based on Dividends or Other Earnings Paid during Applicable FY prior to Vesting Date 435,720 71,996 Deduction for Change in the Actuarial Present Values reported under the “Change in Pension Value and Nonqualified Deferred Compensation Earnings” Column of the Summary Compensation Table for Applicable FY (121,824 ) (22,391 ) Increase for Service Cost and, if applicable, Prior Service Cost for Pension Plans — — TOTAL ADJUSTMENTS (8,917,840 ) (1,055,939 ) | |||
Compensation Actually Paid vs. Total Shareholder Return | CAP Versus Company TSR and Peer Group TSR The CAP figures shown below reflect the grant of long-term management incentive awards for fiscal year 2021 during fiscal year 2020 and for fiscal year 2020 during fiscal year 2019, resulting in no equity grants made in fiscal 2021. The Non-PEO | |||
Compensation Actually Paid vs. Net Income | CAP Versus Net Income | |||
Compensation Actually Paid vs. Company Selected Measure | CAP Versus Stock Price Performance As described above, Stock Price Performance is calculated as the difference between the closing price of a share of our Class B Common Stock at each year’s fiscal year-end year-end, year-end. | |||
Total Shareholder Return Vs Peer Group | CAP Versus Company TSR and Peer Group TSR The CAP figures shown below reflect the grant of long-term management incentive awards for fiscal year 2021 during fiscal year 2020 and for fiscal year 2020 during fiscal year 2019, resulting in no equity grants made in fiscal 2021. The Non-PEO | |||
Tabular List, Table | Most Important Performance Measures Table The three items listed below represent the most important financial performance measures we used to link “compensation actually paid” to our NEOs to our performance for fiscal year 2023. Most Important Performance Measures • Stock Price Performance • Relative TSR • Adjusted OIBDA | |||
Peer Group Total Shareholder Return Amount | $ 155.53 | 93.66 | 166.98 | 131.54 |
Net Income (Loss) | $ (608,000,000) | $ 1,104,000,000 | $ 4,543,000,000 | $ 2,422,000,000 |
Company Selected Measure Amount | (0.1238) | (0.4407) | (0.19) | (0.1122) |
PEO Name | Mr. Bakish | |||
Measure:: 1 | ||||
Pay vs Performance Disclosure | ||||
Name | Stock Price Performance | |||
Measure:: 2 | ||||
Pay vs Performance Disclosure | ||||
Name | Relative TSR | |||
Measure:: 3 | ||||
Pay vs Performance Disclosure | ||||
Name | Adjusted OIBDA | |||
Class A [Member] | ||||
Pay vs Performance Disclosure | ||||
Total Shareholder Return Amount | $ 48.85 | $ 47.85 | $ 78.61 | $ 87.29 |
Class B [Member] | ||||
Pay vs Performance Disclosure | ||||
Total Shareholder Return Amount | 39.86 | $ 44.52 | $ 76.53 | $ 92.39 |
PEO | ||||
Pay vs Performance Disclosure | ||||
Adjustment to Compensation, Amount | (8,917,840) | |||
PEO | Deduction Due to Stock Awards and Option Awards [Member] | ||||
Pay vs Performance Disclosure | ||||
Adjustment to Compensation, Amount | (15,535,109) | |||
PEO | Increase Based on ASC 718 Fair Value of Awards Granted, Unvested [Member] | ||||
Pay vs Performance Disclosure | ||||
Adjustment to Compensation, Amount | 9,343,838 | |||
PEO | Increase or Deduction for Awards Granted Due to Change in ASC 718 Fair Value Outstanding and Unvested [Member] | ||||
Pay vs Performance Disclosure | ||||
Adjustment to Compensation, Amount | (2,176,005) | |||
PEO | Increase or Deduction for Awards Granted Due to Change in ASC 718 Fair Value [Member] | ||||
Pay vs Performance Disclosure | ||||
Adjustment to Compensation, Amount | (766,103) | |||
PEO | Deduction of ASC 718 Fair Value of Awards Granted Forfeited [Member] | ||||
Pay vs Performance Disclosure | ||||
Adjustment to Compensation, Amount | (98,357) | |||
PEO | Increase Based on Dividends or Other Earnings Paid [Member] | ||||
Pay vs Performance Disclosure | ||||
Adjustment to Compensation, Amount | 435,720 | |||
PEO | Deduction Due to Change in Pension Value and Nonqualified Deferred Compensation Earnings [Member] | ||||
Pay vs Performance Disclosure | ||||
Adjustment to Compensation, Amount | (121,824) | |||
Non-PEO NEO | ||||
Pay vs Performance Disclosure | ||||
Adjustment to Compensation, Amount | (1,055,939) | |||
Non-PEO NEO | Deduction Due to Stock Awards and Option Awards [Member] | ||||
Pay vs Performance Disclosure | ||||
Adjustment to Compensation, Amount | (2,177,018) | |||
Non-PEO NEO | Increase Based on ASC 718 Fair Value of Awards Granted, Unvested [Member] | ||||
Pay vs Performance Disclosure | ||||
Adjustment to Compensation, Amount | 1,360,211 | |||
Non-PEO NEO | Increase or Deduction for Awards Granted Due to Change in ASC 718 Fair Value Outstanding and Unvested [Member] | ||||
Pay vs Performance Disclosure | ||||
Adjustment to Compensation, Amount | (239,013) | |||
Non-PEO NEO | Increase or Deduction for Awards Granted Due to Change in ASC 718 Fair Value [Member] | ||||
Pay vs Performance Disclosure | ||||
Adjustment to Compensation, Amount | (43,674) | |||
Non-PEO NEO | Deduction of ASC 718 Fair Value of Awards Granted Forfeited [Member] | ||||
Pay vs Performance Disclosure | ||||
Adjustment to Compensation, Amount | (6,050) | |||
Non-PEO NEO | Increase Based on Dividends or Other Earnings Paid [Member] | ||||
Pay vs Performance Disclosure | ||||
Adjustment to Compensation, Amount | 71,996 | |||
Non-PEO NEO | Deduction Due to Change in Pension Value and Nonqualified Deferred Compensation Earnings [Member] | ||||
Pay vs Performance Disclosure | ||||
Adjustment to Compensation, Amount | $ (22,391) |