Reportable Segments

6 Months Ended

Jun. 30, 2013

Reportable Segments Disclosure [Abstract]

Reportable Segments

14) 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. Outdoor Europe, previously included in the Outdoor segment, has been presented as a discontinued operation. As a result, the Outdoor segment has been renamed Outdoor Americas. In addition, Residual Costs, which was previously presented as a separate line item in the Company's segment presentation, is now included within Corporate. Prior periods have been reclassified to conform to this presentation.

				Three Months Ended				Six Months Ended
				June 30,				June 30,
			2013		2012		2013		2012
Revenues:
	Entertainment		$	2,008	$	1,707	$	4,547	$	4,025
	Cable Networks			518		446		996		898
	Publishing			189		189		360		365
	Local Broadcasting			698		704		1,336		1,326
	Outdoor Americas			335		334		616		622
	Eliminations			(49)		(51)		(116)		(111)
		Total Revenues	$	3,699	$	3,329	$	7,739	$	7,125

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.

			Three Months Ended				Six Months Ended
			June 30,				June 30,
			2013		2012		2013		2012
Intercompany Revenues:
	Entertainment		$	42	$	44	$	104	$	97
	Local Broadcasting			4		5		7		9
	Outdoor Americas			3		2		5		5
		Total Intercompany Revenues	$	49	$	51	$	116	$	111

The Company presents segment 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.

		Three Months Ended				Six Months Ended
		June 30,				June 30,
		2013		2012		2013		2012
Segment OIBDA:
	Entertainment	$	429	$	426	$	909	$	837
	Cable Networks		207		190		438		399
	Publishing		21		9		33		19
	Local Broadcasting		255		248		454		419
	Outdoor Americas		107		103		181		179
	Corporate		(67)		(65)		(147)		(135)
Total Segment OIBDA			952		911		1,868		1,718
Impairment charges			—		—		—		(11)
Depreciation and amortization			(114)		(119)		(230)		(238)
Operating income			838		792		1,638		1,469
	Interest expense		(93)		(104)		(188)		(214)
	Interest income		2		1		4		3
	Gain on early extinguishment of debt		—		—		—		25
	Other items, net		(7)		3		(9)		8
Earnings from continuing operations before
	income taxes and equity in loss of investee
	companies		740		692		1,445		1,291
Provision for income taxes			(256)		(228)		(490)		(429)
Equity in loss of investee companies, net of tax			(8)		(12)		(16)		(16)
Net earnings from continuing operations			476		452		939		846
Net loss from discontinued operations, net of tax			(4)		(25)		(24)		(56)
Net earnings		$	472	$	427	$	915	$	790

				Three Months Ended				Six Months Ended
				June 30,				June 30,
			2013		2012		2013		2012
Operating Income (Loss):
	Entertainment		$	391	$	385	$	831	$	755
	Cable Networks			202		184		429		388
	Publishing			20		7		30		15
	Local Broadcasting			234		225		410		363
	Outdoor Americas			65		62		97		95
	Corporate			(74)		(71)		(159)		(147)
		Total Operating Income	$	838	$	792	$	1,638	$	1,469

			Three Months Ended				Six Months Ended
			June 30,				June 30,
			2013		2012		2013		2012
Depreciation and Amortization:
	Entertainment		$	38	$	41	$	78	$	82
	Cable Networks			5		6		9		11
	Publishing			1		2		3		4
	Local Broadcasting			21		23		44		45
	Outdoor Americas			42		41		84		84
	Corporate			7		6		12		12
		Total Depreciation and Amortization	$	114	$	119	$	230	$	238

			Three Months Ended				Six Months Ended
			June 30,				June 30,
			2013		2012		2013		2012
Stock-based Compensation:
	Entertainment		$	15	$	14	$	30	$	27
	Cable Networks			2		2		4		3
	Publishing			1		—		2		1
	Local Broadcasting			7		6		14		12
	Outdoor Americas			1		2		3		3
	Corporate			23		15		56		34
		Total Stock-based Compensation	$	49	$	39	$	109	$	80

			Three Months Ended				Six Months Ended
			June 30,				June 30,
			2013		2012		2013		2012
Capital Expenditures:
	Entertainment		$	24	$	19	$	43	$	36
	Cable Networks			2		3		4		4
	Publishing			1		—		1		—
	Local Broadcasting			12		14		18		24
	Outdoor Americas			9		10		15		17
	Corporate			1		3		2		3
		Total Capital Expenditures	$	49	$	49	$	83	$	84

			At June 30,		At December 31,
			2013		2012
Assets:
	Entertainment		$	8,665	$	9,023
	Cable Networks			1,880		1,750
	Publishing			959		1,033
	Local Broadcasting			9,609		9,614
	Outdoor Americas			3,435		3,542
	Corporate			683		1,026
	Discontinued operations			462		478
		Total Assets	$	25,693	$	26,466