Condensed Consolidating Financial Statements (Tables)

12 Months Ended

Dec. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Statements of Operations

	Statement of Operations
	For the Year Ended December 31, 2014
	CBS Corp.			CBS Operations Inc.			Non- Guarantor Affiliates			Eliminations			CBS Corp. Consolidated
Revenues	$	159		$	11		$	13,636		$	—		$	13,806
Expenses:
Operating	68			6			8,015			—			8,089
Selling, general and administrative	61			255			2,146			—			2,462
Restructuring charges	—			3			23			—			26
Impairment charge	—			—			52			—			52
Depreciation and amortization	6			16			259			—			281
Total expenses	135			280			10,495			—			10,910
Operating income (loss)	24			(269		)	3,141			—			2,896
Interest (expense) income, net	(443		)	(383		)	476			—			(350		)
Loss on early extinguishment of debt	(351		)	—			(1		)	—			(352		)
Other items, net	(1		)	4			(33		)	—			(30		)
Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of investee companies	(771		)	(648		)	3,583			—			2,164
Benefit (provision) for income taxes	280			229			(1,271		)	—			(762		)
Equity in earnings (loss) of investee companies, net of tax	3,444			1,270			(48		)	(4,714		)	(48		)
Net earnings from continuing operations	2,953			851			2,264			(4,714		)	1,354
Net earnings (loss) from discontinued operations, net of tax	6			(1		)	1,600			—			1,605
Net earnings	$	2,959		$	850		$	3,864		$	(4,714	)	$	2,959
Total comprehensive income	$	2,769		$	857		$	3,819		$	(4,676	)	$	2,769

	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		$	13,849		$	—		$	14,005
Expenses:
Operating	69			8			8,047			—			8,124
Selling, general and administrative	65			323			2,158			—			2,546
Restructuring charges	—			1			19			—			20
Depreciation and amortization	6			14			270			—			290
Total expenses	140			346			10,494			—			10,980
Operating income (loss)	5			(335		)	3,355			—			3,025
Interest (expense) income, net	(457		)	(369		)	459			—			(367		)
Other items, net	—			4			3			—			7
Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of investee companies	(452		)	(700		)	3,817			—			2,665
Benefit (provision) for income taxes	152			235			(1,265		)	—			(878		)
Equity in earnings (loss) of investee companies, net of tax	2,170			1,288			(49		)	(3,458		)	(49		)
Net earnings from continuing operations	1,870			823			2,503			(3,458		)	1,738
Net earnings (loss) from discontinued operations, net of tax	9			(5		)	137			—			141
Net earnings	$	1,879		$	818		$	2,640		$	(3,458	)	$	1,879
Total comprehensive income	$	1,903		$	815		$	2,463		$	(3,278	)	$	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		$	12,648		$	—		$	12,820
Expenses:
Operating	74			8			7,182			—			7,264
Selling, general and administrative	87			251			2,104			—			2,442
Restructuring charges	—			2			17			—			19
Impairment charge	—			—			11			—			11
Depreciation and amortization	6			14			286			—			306
Total expenses	167			275			9,600			—			10,042
Operating income (loss)	(10		)	(260		)	3,048			—			2,778
Interest (expense) income, net	(480		)	(351		)	435			—			(396		)
Net loss on early extinguishment of debt	(32		)	—			—			—			(32		)
Other items, net	1			(5		)	11			—			7
Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of investee companies	(521		)	(616		)	3,494			—			2,357
Benefit (provision) for income taxes	183			215			(1,210		)	—			(812		)
Equity in earnings (loss) of investee companies, net of tax	1,886			1,145			(37		)	(3,031		)	(37		)
Net earnings from continuing operations	1,548			744			2,247			(3,031		)	1,508
Net earnings (loss) from discontinued operations, net of tax	26			(3		)	43			—			66
Net earnings	$	1,574		$	741		$	2,290		$	(3,031	)	$	1,574
Total comprehensive income	$	1,444		$	734		$	2,298		$	(3,032	)	$	1,444

Condensed Consolidating Balance Sheets

	Balance Sheet
	At December 31, 2014
	CBS Corp.			CBS Operations Inc.			Non- Guarantor Affiliates			Eliminations			CBS Corp. Consolidated
Assets
Cash and cash equivalents	$	63		$	1		$	364		$	—		$	428
Receivables, net	29			2			3,428			—			3,459
Programming and other inventory	4			3			915			—			922
Prepaid expenses and other current assets	306			27			477			(30		)	780
Total current assets	402			33			5,184			(30		)	5,589
Property and equipment	41			162			2,961			—			3,164
Less accumulated depreciation and amortization	15			98			1,618			—			1,731
Net property and equipment	26			64			1,343			—			1,433
Programming and other inventory	7			8			1,802			—			1,817
Goodwill	98			62			6,538			—			6,698
Intangible assets	—			—			6,008			—			6,008
Investments in consolidated subsidiaries	41,144			11,685			—			(52,829		)	—
Other assets	219			17			2,252			—			2,488
Intercompany	—			2,726			21,772			(24,498		)	—
Assets of discontinued operations	—			—			39			—			39
Total Assets	$	41,896		$	14,595		$	44,938		$	(77,357	)	$	24,072
Liabilities and Stockholders' Equity
Accounts payable	$	3		$	24		$	275		$	—		$	302
Participants' share and royalties payable	—			—			999			—			999
Program rights	5			3			396			—			404
Commercial paper	616			—			—			—			616
Current portion of long-term debt	4			—			16			—			20
Accrued expenses and other current liabilities	388			270			1,038			(30		)	1,666
Current liabilities of discontinued operations	—			—			26			—			26
Total current liabilities	1,016			297			2,750			(30		)	4,033
Long-term debt	6,383			—			127			—			6,510
Other liabilities	3,029			249			3,163			—			6,441
Liabilities of discontinued operations	—			—			118			—			118
Intercompany	24,498			—			—			(24,498		)	—
Stockholders' Equity:
Preferred stock	—			—			126			(126		)	—
Common stock	1			123			590			(713		)	1
Additional paid-in capital	44,041			—			60,894			(60,894		)	44,041
Retained earnings (deficit)	(21,931		)	14,260			(18,111		)	3,851			(21,931		)
Accumulated other comprehensive income (loss)	(735		)	(3		)	81			(78		)	(735		)
	21,376			14,380			43,580			(57,960		)	21,376
Less treasury stock, at cost	14,406			331			4,800			(5,131		)	14,406
Total Stockholders' Equity	6,970			14,049			38,780			(52,829		)	6,970
Total Liabilities and Stockholders' Equity	$	41,896		$	14,595		$	44,938		$	(77,357	)	$	24,072

	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		$	287		$	—		$	368
Receivables, net	30			2			3,202			—			3,234
Programming and other inventory	4			2			766			—			772
Prepaid expenses and other current assets	179			18			474			(26		)	645
Current assets of discontinued operations	—			—			351			—			351
Total current assets	293			23			5,080			(26		)	5,370
Property and equipment	37			137			2,886			—			3,060
Less accumulated depreciation and amortization	9			83			1,507			—			1,599
Net property and equipment	28			54			1,379			—			1,461
Programming and other inventory	5			—			1,692			—			1,697
Goodwill	98			62			6,428			—			6,588
Intangible assets	—			—			5,870			—			5,870
Investments in consolidated subsidiaries	40,454			10,415			—			(50,869		)	—
Other assets	89			18			1,856			—			1,963
Assets held for sale	—			—			314			—			314
Intercompany	—			3,240			18,409			(21,649		)	—
Assets of discontinued operations	—			—			3,124			—			3,124
Total Assets	$	40,967		$	13,812		$	44,152		$	(72,544	)	$	26,387
Liabilities and Stockholders' Equity
Accounts payable	$	1		$	8		$	277		$	—		$	286
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			—			15			—			20
Accrued expenses and other current liabilities	361			293			1,138			(26		)	1,766
Current liabilities of discontinued operations	—			—			254			—			254
Total current liabilities	847			303			3,083			(26		)	4,207
Long-term debt	5,791			—			149			—			5,940
Other liabilities	2,714			317			2,766			—			5,797
Liabilities of discontinued operations	—			—			477			—			477
Intercompany	21,649			—			—			(21,649		)	—
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		)	13,410			(20,406		)	6,996			(24,890		)
Accumulated other comprehensive income (loss)	(545		)	(10		)	126			(116		)	(545		)
	18,040			13,523			42,477			(56,000		)	18,040
Less treasury stock, at cost	8,074			331			4,800			(5,131		)	8,074
Total Stockholders' Equity	9,966			13,192			37,677			(50,869		)	9,966
Total Liabilities and Stockholders' Equity	$	40,967		$	13,812		$	44,152		$	(72,544	)	$	26,387

Condensed Consolidating Statement of Cash Flows

	Statement of Cash Flows
	For the Year Ended December 31, 2014
	CBS Corp.			CBS Operations Inc.			Non- Guarantor Affiliates			Eliminations		CBS Corp. Consolidated
Net cash flow (used for) provided by operating activities	$	(1,107	)	$	(194	)	$	2,576		$	—	$	1,275
Investing Activities:
Acquisitions, net of cash acquired	—			—			(27		)	—		(27		)
Capital expenditures	—			(27		)	(179		)	—		(206		)
Investments in and advances to investee companies	—			—			(98		)	—		(98		)
Proceeds from sale of investments	—			—			12			—		12
Proceeds from dispositions	—			—			7			—		7
Other investing activities	(4		)	—			—			—		(4		)
Net cash flow used for investing activities from continuing operations	(4		)	(27		)	(285		)	—		(316		)
Net cash flow used for investing activities from discontinued operations	(29		)	—			(256		)	—		(285		)
Net cash flow used for investing activities	(33		)	(27		)	(541		)	—		(601		)
Financing Activities:
Proceeds from short-term debt borrowings, net	141			—			—			—		141
Proceeds from issuance of notes	1,728			—			—			—		1,728
Repayment of notes and debentures	(1,146		)	—			(6		)	—		(1,152		)
Payment of capital lease obligations	—			—			(17		)	—		(17		)
Dividends	(292		)	—			—			—		(292		)
Purchase of Company common stock	(3,595		)	—			—			—		(3,595		)
Payment of payroll taxes in lieu of issuing shares for stock-based compensation	(146		)	—			—			—		(146		)
Proceeds from exercise of stock options	283			—			—			—		283
Excess tax benefit from stock-based compensation	243			—			—			—		243
Other financing activities	(3		)	—			—			—		(3		)
Increase (decrease) in intercompany payables	3,921			221			(4,142		)	—		—
Net cash flow provided by (used for) financing activities from continuing operations	1,134			221			(4,165		)	—		(2,810		)
Net cash flow (used for) provided by financing activities from discontinued operations	(11		)	—			2,178			—		2,167
Net cash flow provided by (used for) financing activities	1,123			221			(1,987		)	—		(643		)
Net (decrease) increase in cash and cash equivalents	(17		)	—			48			—		31
Cash and cash equivalents at beginning of period (includes $29 of discontinued operations cash)	80			1			316			—		397
Cash and cash equivalents at end of period	$	63		$	1		$	364		$	—	$	428

	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	—			—			(20		)	—		(20		)
Capital expenditures	—			(27		)	(185		)	—		(212		)
Investments in and advances to investee companies	—			—			(176		)	—		(176		)
Proceeds from sale of investments	23			1			6			—		30
Proceeds from dispositions	—			—			164			—		164
Net cash flow provided by (used for) investing activities from continuing operations	23			(26		)	(211		)	—		(214		)
Net cash flow used for investing activities from discontinued operations	—			—			(58		)	—		(58		)
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 period (includes $21 of discontinued operations cash)	254			1			453			—		708
Cash and cash equivalents at end of period (includes $29 of discontinued operations cash)	$	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		)	(179		)	—		(200		)
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		)	(365		)	—		(375		)
Net cash flow used for investing activities from discontinued operations	—			—			(76		)	—		(76		)
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 period (includes $38 of discontinued operations cash)	134			1			525			—		660
Cash and cash equivalents at end of period (includes $21 of discontinued operations cash)	$	254		$	1		$	453		$	—	$	708