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Pension and Other Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2014
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]  
Change in Benefit Obligations
The following table sets forth the change in benefit obligation for the Company’s pension and postretirement benefit plans.
 
Pension Benefits
 
Postretirement Benefits
 
2014
 
2013
 
2014
 
2013
Change in benefit obligation:
 
 
 
 
 
 
 
Benefit obligation, beginning of year
$
5,022

 
$
5,511

 
$
589

 
$
676

Service cost
31

 
38

 
—

 
—

Interest cost
237

 
211

 
25

 
26

Actuarial loss (gain)
444

 
(311
)
 
5

 
(51
)
Benefits paid
(396
)
 
(415
)
 
(74
)
 
(79
)
Participants’ contributions
—

 
—

 
11

 
10

Retiree Medicare drug subsidy
—

 
—

 
6

 
7

Settlements
(1
)
 
—

 
—

 
—

Cumulative translation adjustments
(14
)
 
(12
)
 
—

 
—

Benefit obligation, end of year
$
5,323

 
$
5,022

 
$
562

 
$
589
Change in Plan Assets
The following table sets forth the change in plan assets for the Company’s pension and postretirement benefit plans.
 
Pension Benefits
 
Postretirement Benefits
 
2014
 
2013
 
2014
 
2013
Change in plan assets:
 
 
 
 
 
 
 
Fair value of plan assets, beginning of year
$
4,184

 
$
4,234

 
$
5

 
$
5

Actual return on plan assets
402

 
178

 
—

 
—

Employer contributions
50

 
199

 
57

 
62

Benefits paid
(396
)
 
(415
)
 
(74
)
 
(79
)
Participants’ contributions
—

 
—

 
11

 
10

Retiree Medicare drug subsidy
—

 
—

 
6

 
7

Settlements
(1
)
 
—

 
—

 
—

Cumulative translation adjustments
(15
)
 
(12
)
 
—

 
—

Fair value of plan assets, end of year
$
4,224

 
$
4,184

 
$
5

 
$
5
Funded Status and Amounts Recognized on Consolidated Balance Sheets
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,
2014
 
2013
 
2014
 
2013
Funded status at end of year
$
(1,099
)
 
$
(838
)
 
$
(557
)
 
$
(584
)
Amounts recognized on the Consolidated Balance Sheets:
 
 
 
 
 
 
 
Other assets
$
15

 
$
17

 
$
—

 
$
—

Current liabilities
(50
)
 
(50
)
 
(57
)
 
(62
)
Noncurrent liabilities
(1,064
)
 
(805
)
 
(500
)
 
(522
)
Net amounts recognized
$
(1,099
)
 
$
(838
)
 
$
(557
)
 
$
(584
)
Amounts Recognized in Accumulated Other Comprehensive Income (Loss)
The following amounts were recognized in accumulated other comprehensive income (loss) on the Consolidated Balance Sheets.
 
Pension Benefits
 
Postretirement Benefits
At December 31,
2014
 
2013
 
2014
 
2013
Net actuarial (loss) gain
$
(1,774
)
 
$
(1,533
)
 
$
222

 
$
248

Net prior service (cost) credit
(10
)
 
(11
)
 
—

 
1

Share of equity investee
(1
)
 
—

 
—

 
—

 
(1,785
)
 
(1,544
)
 
222

 
249

Deferred income taxes
706

 
612

 
(35
)
 
(46
)
Net amount recognized in accumulated other
comprehensive income (loss)
$
(1,079
)
 
$
(932
)
 
$
187

 
$
203
Schedule of Accumulated Benefit Obligations in Excess of Plan Assets
Information for the pension plans with an accumulated benefit obligation in excess of plan assets is set forth below.
At December 31,
2014
 
2013
Projected benefit obligation
$
5,200

 
$
4,890

Accumulated benefit obligation
$
5,111

 
$
4,814

Fair value of plan assets
$
4,085

 
$
4,036
Components of Net Periodic Benefit Cost
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,
2014
 
2013
 
2012
 
2014
 
2013
 
2012
Components of net periodic cost:
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
31

 
$
38

 
$
34

 
$
—

 
$
—

 
$
—

Interest cost
237

 
211

 
240

 
25

 
26

 
33

Expected return on plan assets
(262
)
 
(271
)
 
(247
)
 
—

 
—

 
—

Amortization of actuarial losses (gains)
63

 
85

 
70

 
(21
)
 
(16
)
 
(16
)
Amortization of prior service cost (credit)
1

 
1

 
1

 
(1
)
 
(1
)
 
(1
)
Net periodic cost
$
70

 
$
64

 
$
98

 
$
3

 
$
9

 
$
16
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
 
Pension
 
Postretirement
Year Ended December 31, 2014
Benefits
 
Benefits
Other comprehensive income (loss):
 
 
 
Actuarial loss
$
(304
)
 
$
(5
)
Amortization of actuarial losses (gains) (a)
63

 
(21
)
Amortization of prior service cost (credit) (a)
1

 
(1
)
Share of equity investee
(1
)
 
—

 
(241
)
 
(27
)
Deferred income taxes
94

 
11

Recognized in other comprehensive income, net of tax
$
(147
)
 
$
(16
)
(a)  Reflects amounts reclassified from accumulated other comprehensive income (loss) to net earnings.
Weighted Average Assumptions Used to Determine Benefit Obligations and Net Periodic Costs
 
 
Pension
 
Postretirement
 
Benefits
 
Benefits
 
2014
 
2013
 
2014
 
2013
Weighted average assumptions used to determine benefit obligations at December 31:
 
 
 
 
 
 
 
Discount rate
4.1
%
 
4.9
%
 
3.8
%
 
4.5
%
Rate of compensation increase
3.0
%
 
3.0
%
 
N/A

 
N/A

Weighted average assumptions used to determine net periodic costs for the year ended December 31:
 
 
 
 
 
 
 
Discount rate
4.9
%
 
4.0
%
 
4.5
%
 
4.0
%
Expected long-term return on plan assets
6.5
%
 
6.5
%
 
2.0
%
 
2.0
%
Rate of compensation increase
3.0
%
 
3.0
%
 
N/A

 
N/A

N/A - not applicable
Assumptions Regarding Heath Care Cost Trend Rates for Postretirement Benefits
The following additional assumptions were used in accounting for postretirement benefits.
 
2014
 
2013
Projected health care cost trend rate for participants of age 65 and below
7.0
%
 
7.5
%
Projected health care cost trend rate for participants above age 65
7.0
%
 
7.5
%
Ultimate trend rate
5.0
%
 
5.0
%
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 Trend Rates
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
$
9

 
$
(9
)
Fair Value of Pension Pan Assets
At December 31, 2014
Level 1
 
Level 2
 
Level 3
 
Total
Cash and cash equivalents (a)
$
5

 
$
43

 
$
—

 
$
48

Fixed income securities:
 
 
 
 
 
 


U.S. treasury securities
139

 
—

 
—

 
139

Government-related securities
49

 
301

 
—

 
350

Corporate bonds (b)
—

 
2,560

 
—

 
2,560

Mortgage-backed and asset-backed securities
—

 
116

 
3

 
119

Equity securities: (c)
 
 
 
 
 
 


U.S. large capitalization
258

 
349

 
—

 
607

U.S. small capitalization
74

 
2

 
—

 
76

International equity (d)
—

 
242

 
—

 
242

Limited partnerships
—

 
—

 
56

 
56

Other
—

 
27

 
—

 
27

Total Assets
$
525

 
$
3,640

 
$
59

 
$
4,224

At December 31, 2013
Level 1
 
Level 2
 
Level 3
 
Total
Cash and cash equivalents (a)
$
8

 
$
55

 
$
—

 
$
63

Fixed income securities:
 
 
 
 
 
 
 
U.S. treasury securities
133

 
—

 
—

 
133

Government-related securities
44

 
234

 
—

 
278

Corporate bonds (b)
—

 
2,373

 
—

 
2,373

Mortgage-backed and asset-backed securities
—

 
128

 
4

 
132

Equity securities: (c)
 
 
 
 
 
 


U.S. large capitalization
345

 
355

 
—

 
700

U.S. small capitalization
98

 
3

 
—

 
101

International equity (d)
—

 
291

 
—

 
291

Limited partnerships
—

 
—

 
55

 
55

Other
—

 
58

 
—

 
58

Total Assets
$
628

 
$
3,497

 
$
59

 
$
4,184

(a) Assets categorized as Level 2 reflect investments in money market funds.
(b)  Securities of diverse industries, substantially all investment grade.
(c)  Assets categorized as Level 2 reflect investments in common collective funds.
(d) Includes investments in emerging market funds of $50 million and $59 million at December 31, 2014 and 2013, respectively.
Changes in Fair Value of Level 3 Assets
The table below sets forth a summary of changes in the fair value of investments reflected as Level 3 at December 31, 2014.
 
Limited
Partnerships
 
Mortgage-backed
Securities
 
Total
At January 1, 2013
$
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

Actual return related to investments held at end of year
1

 
—

 
1

Distributions
—

 
(1
)
 
(1
)
At December 31, 2014
$
56

 
$
3

 
$
59
Estimated Future Benefit Payments
Estimated future benefit payments are as follows: 
 
2015
 
2016
 
2017
 
2018
 
2019
 
2020-2024
Pension
$
398

 
$
388

 
$
381

 
$
372

 
$
364

 
$
1,691

Postretirement
$
67

 
$
65

 
$
62

 
$
59

 
$
57

 
$
236

Retiree Medicare drug subsidy
$
9

 
$
9

 
$
8

 
$
8

 
$
8

 
$
36
Participation in Multi-employer Defined Benefit Pension Plan
The table below presents information concerning the Company’s participation in multiemployer defined benefit pension plans.
 
 
 
 
 
 
 
 
 
 
 
 
 
Expiration
 
 
Employer
Identification
 
Pension
Protection Act
 
 
 
 
 
 
 
Date of
Collective-
 
 
Number/Pension
 
Zone Status (a)
 
Company Contributions
 
Bargaining
Pension Plan
 
Plan Number
 
2014
2013
 
2014
 
2013
 
2012
 
Agreement
AFTRA Retirement Plan (b)
 
13-6414972-001
 
Green
Green
 
$
7

 
$
7

 
$
7

 
(c)
Directors Guild of America - Producer
 
95-2892780-001
 
Green
Green
 
5

 
5

 
4

 
6/30/2017
Producer-Writers Guild of America
 
95-2216351-001
 
Green
Green
 
10

 
8

 
8

 
5/1/2017
Screen Actors Guild - Producers
 
95-2110997-001
 
Green
Green
 
7

 
7

 
6

 
6/30/2017
Motion Picture Industry
 
95-1810805-001
 
Green
Green
 
8

 
7

 
7

 
(d)
Other Plans
 
 
 
 
 
 
10

 
8

 
6

 
 
 
 
Total contributions
 
$
47

 
$
42

 
$
38

 
 
(a) The Zone status for each individual plan listed was certified by each plan’s actuary as of the beginning of the plan years for 2014 and 2013. 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.
(b) 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, 2013.
(c) The expiration dates range from June 30, 2017 through November 15, 2017.
(d) The expiration dates range from March 2, 2015 through March 2, 2016.