10-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-K

ý	ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the fiscal year ended December 31, 2013
OR
o	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
	For the transition period from                                         to

Commission File Number 001-09553

CBS CORPORATION
(Exact name of registrant as specified in its charter)

DELAWARE
(State or other jurisdiction of
incorporation or organization) 04-2949533
(I.R.S. Employer
Identification Number)

51 W. 52^nd Street
New York, NY 10019
(212) 975-4321
(Address, including zip code, and telephone number,
including area code, of registrant's principal executive offices)

Securities Registered Pursuant to Section 12(b) of the Act:

Title of Each Class	Name of Each Exchange on Which Registered
Class A Common Stock, $0.001 par value	New York Stock Exchange
Class B Common Stock, $0.001 par value	New York Stock Exchange
7.625% Senior Debentures due 2016	NYSE MKT

Securities Registered Pursuant to Section 12(g) of the Act:

None
(Title of Class)

           Indicate by check mark if the registrant is a well-known seasoned issuer (as defined in Rule 405 of the Securities Act of 1933). Yes ý    No o

           Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934. Yes o    No ý

           Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ý    No o

           Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that registrant was required to submit and post such files). Yes ý    No o

           Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of the registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. ý

           Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer or a non-accelerated filer, or smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Securities Exchange Act of 1934.

Large accelerated filer ý Accelerated filer o Non-accelerated filer o
(Do not check if a smaller
reporting company) Smaller reporting company o

           Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Securities Exchange Act of 1934). Yes o    No ý

           As of June 28, 2013, which was the last business day of the registrant's most recently completed second fiscal quarter, the market value of the shares of CBS Corporation Class A Common Stock, $0.001 par value ("Class A Common Stock"), held by non-affiliates was approximately $401,227,620 (based upon the closing price of $48.81 per share as reported by the New York Stock Exchange on that date) and the market value of the shares of CBS Corporation Class B Common Stock, $0.001 par value ("Class B Common Stock"), held by non-affiliates was approximately $27,056,801,364 (based upon the closing price of $48.87 per share as reported by the New York Stock Exchange on that date); and the aggregate market value of the shares of both Class A Common Stock and Class B Common Stock held by non-affiliates was $27,458,028,984.

           As of February 11, 2014, 39,066,582 shares of Class A Common Stock and 554,311,765 shares of Class B Common Stock were outstanding.

DOCUMENTS INCORPORATED BY REFERENCE

           Portions of CBS Corporation's Notice of 2014 Annual Meeting of Stockholders and Proxy Statement to be filed with the Securities and Exchange Commission pursuant to Regulation 14A of the Securities Exchange Act of 1934, as amended (the "Proxy Statement") (Portion of Item 5; Part III).

PART I

Item 1.    Business.

        CBS Corporation (together with its consolidated subsidiaries unless the context otherwise requires, the "Company" or "CBS Corp.") is a mass media company with operations in the following segments:

•

ENTERTAINMENT: The Entertainment segment is composed of the CBS® Television Network; CBS Television Studios; CBS Global Distribution Group (composed of CBS Studios International and CBS Television Distribution); CBS Films®; and CBS Interactive.

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CABLE NETWORKS: The Cable Networks segment is composed of Showtime® Networks, the Company's premium subscription program services; CBS Sports Network®, the Company's cable network focused on college athletics and other sports; and Smithsonian Networks™, a venture between Showtime Networks and Smithsonian Institution, which operates Smithsonian Channel™, a basic cable program service.

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PUBLISHING: The Publishing segment is composed of Simon & Schuster, which publishes and distributes consumer books under imprints such as Simon & Schuster®, Pocket Books®, Scribner® and Atria Books®.

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LOCAL BROADCASTING: The Local Broadcasting segment is composed of CBS Television Stations, the Company's 30 owned broadcast television stations; and CBS Radio®, through which the Company owns and operates 126 radio stations in 27 United States ("U.S.") markets.

•

OUTDOOR AMERICAS: The Outdoor Americas segment provides space for advertisers on out-of-home advertising structures and sites in the U.S., Canada and Latin America, including billboards, rail, subway cars, buses, benches, trains, trams, transit shelters, urban panels, street kiosks, transit platforms and in retail stores, and operates principally through CBS Outdoor®. As part of the Company's strategic initiatives for its outdoor advertising business, the Company plans to separate such business and convert it into a real estate investment trust, subject to approvals and as further described below.

        For the year ended December 31, 2013, contributions to the Company's consolidated revenues from its segments were as follows: Entertainment 57%, Cable Networks 14%, Publishing 5%, Local Broadcasting 18% and Outdoor Americas 9%. The Company generated approximately 13% of its total revenues from international regions in 2013. For the year ended December 31, 2013, approximately 49% and 18% of total international revenues of approximately $1.99 billion were generated in Europe and Canada, respectively.

        The Company operates businesses which span the media and entertainment industries, including the CBS Television Network, cable program services, television content production and distribution, motion pictures, consumer publishing, television and radio stations, interactive media, and outdoor advertising, with a focus on optimizing the performance of each and establishing synergies and efficiencies among them. The Company's principal strategy is to create and acquire content that is widely accepted by audiences, and generate both advertising and non-advertising revenues from the distribution of this content on multiple media platforms and to various geographic locations. The Company also continues to pursue opportunities to grow and diversify its revenue streams, including licensing its content for exhibition on digital and other platforms; expanding the distribution of its content internationally; securing compensation from multichannel video programming distributors ("MVPDs"), including cable, direct broadcast satellite ("DBS"), telephone company, and other distributors, for authorizing the MVPDs' carriage of the Company's owned television stations (also known as "retransmission fees") and cable networks, and securing compensation from television stations affiliated with the CBS Television Network ("network affiliation fees" also known as "reverse compensation"); and increasingly monetizing content viewership and ratings as industry measurements evolve to reflect changing viewership habits.

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        During 2013, the Company announced its intention to separate its Outdoor Americas business and, subject to receiving a ruling from the Internal Revenue Service ("IRS"), convert it 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 completion of the IPO. In addition, 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.

        The Company competes with many different entities and media in various markets worldwide. In addition to competition in each of its businesses, the Company competes for opportunities in the entertainment business with other diversified entertainment companies such as The Walt Disney Company, NBCUniversal Media, LLC, Twenty-First Century Fox, Inc. (formerly known as News Corporation), Time Warner Inc., Cumulus Media Inc. and Clear Channel Communications, Inc.

        As of December 31, 2013, National Amusements, Inc. ("NAI"), a closely held corporation that owns and operates approximately 947 movie screens in the U.S., the United Kingdom ("U.K.") and South America and manages 4 movie screens in South America, directly or indirectly owned approximately 79.6% of the Company's voting Class A Common Stock, and approximately 6.7% of the Company's Class A Common Stock and Class B Common Stock on a combined basis. Owners of the Company's Class A Common Stock are entitled to one vote per share. The Company's Class B Common Stock does not have voting rights. NAI is not subject to the reporting requirements of the Securities Exchange Act of 1934, as amended. Sumner M. Redstone, the controlling shareholder of NAI, is the Executive Chairman of the Board of Directors and Founder of the Company.

        The Company was organized in Delaware in 1986. The Company's principal offices are located at 51 W. 52nd Street, New York, New York 10019. Its telephone number is (212) 975-4321 and its Website address is www.cbscorporation.com.

CBS CORP. BUSINESS SEGMENTS

Entertainment (57%, 55% and 55% of the Company's consolidated revenues in 2013, 2012 and 2011, respectively, and 49%, 46% and 47% of the Company's consolidated operating income in 2013, 2012 and 2011, respectively)

        The Entertainment segment consists of the CBS Television Network; CBS Television Studios and CBS Global Distribution Group (composed of CBS Studios International and CBS Television Distribution), the Company's television production and syndication operations; CBS Films, the Company's producer and distributor of theatrical motion pictures; and CBS Interactive, the Company's online content networks for information and entertainment.

        Television Network.    The CBS Television Network through CBS Entertainment™, CBS News® and CBS Sports® distributes a comprehensive schedule of news and public affairs broadcasts, sports and entertainment programming to more than 200 domestic affiliates reaching throughout the U.S., including 16 of the Company's owned and operated television stations, and to affiliated stations in certain U.S. territories.

        The CBS Television Network primarily derives revenues from the sales of advertising time for its network broadcasts. A significant portion of the advertising spots sold for the network's non-sports programming occurs annually generally during May through July in the industry's upfront advertising market for the upcoming television broadcast season, which runs for one year commencing in

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late-September. Advertisers purchase the remaining advertising spots closer to the broadcast of the related programming in the scatter advertising market. Overall advertising revenue for the network is also impacted by audience ratings for its programming. In addition, the CBS Television Network's revenues include network affiliation fees.

        CBS Entertainment is responsible for acquiring or developing and scheduling the entertainment programming presented on the CBS Television Network, which includes primetime comedy and drama series, reality-based programming, specials, children's programs, daytime dramas, game shows and late-night programs. CBS News operates a worldwide news organization, providing the CBS Television Network and the CBS Radio Network™ with regularly scheduled news and public affairs broadcasts, including 60 Minutes®, 48 Hours Mystery®, CBS Evening News with Scott Pelley™, CBS This Morning®, CBS Sunday Morning® and Face the Nation® as well as special reports. CBS News also provides CBS Newspath®, a television news syndication service that offers daily news coverage, sports highlights and news features to the CBS Television Network affiliates and other subscribers worldwide. CBS Sports broadcasts include The NFL Today, certain games from the NCAA Division I Men's Basketball Tournament, the PGA Golf Tour, Masters Tournament and PGA Championship, the U.S. Open Tennis Championships, regular-season college football and basketball games on network television, in addition to the NFL's American Football Conference (AFC) regular-season, post-season divisional playoff and championship games. CBS Sports broadcast the AFC through the 2013 season, including the broadcast of the 2013 Super Bowl. In December 2011, CBS extended its rights with the NFL to broadcast the AFC from the 2014 season through the 2022 season, including certain National Football Conference regular season games and the Super Bowls in 2016, 2019 and 2022. In February 2014, the Company announced an agreement with the NFL to produce and broadcast Thursday Night Football for the 2014 season. CBS Home Entertainment licenses home video rights and CBS Consumer Products licenses merchandising rights.

        The CW, a broadcast network and the Company's 50/50 joint venture with Warner Bros. Entertainment, airs programming, including, The Vampire Diaries, Beauty and the Beast, Reign and America's Next Top Model. Eight of the Company's owned television stations are affiliates of The CW. Certain of The CW's programming is streamed on video-on-demand services owned by each of Hulu, LLC and Netflix, Inc. pursuant to license agreements.

        Television Production and Syndication.    The Company, through CBS Television Studios and CBS Global Distribution Group (composed of CBS Studios International and CBS Television Distribution), produces, acquires and/or distributes programming worldwide, including series, specials, news and public affairs. Such programming is produced primarily for broadcast on network television, exhibition on basic cable and premium subscription services or distribution via first-run syndication. First-run syndication is programming exhibited on television stations without prior exhibition on a network or cable service. The Company subsequently distributes programming after its initial exhibition on a network, basic cable network or premium subscription service for domestic exhibition on television stations, cable networks or video-on-demand services (known as "off-network syndicated programming"). Off-network syndicated programming, first-run syndicated programming and programming distributed internationally can sometimes be sold in successive cycles of sales known as "first cycle," "second cycle," sales, and so on, which may occur on exclusive or non-exclusive bases. Generally, license fees may decrease with successive sales cycles due to increased program exhibitions.

        Programming that was produced or co-produced by the Company's production group and is broadcast on network television includes, among others, CSI: Crime Scene Investigation (CBS), NCIS (CBS), The Good Wife (CBS) and Beauty and the Beast (The CW). Generally, a network will license a specified number of episodes for broadcast on the network in the U.S. during a license period. Remaining distribution rights, including international and/or off-network syndication rights, are typically retained by the Company or, in the case of co-productions, distribution rights are shared with the co-producer for U.S. or international markets. The network license fee for a series episode is normally lower than the costs of producing the episode; however, the Company's objective is to recoup its costs and earn a profit through various forms of

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distribution, including international and domestic syndication and digital streaming of episodes. International sales are generally made within one year of the U.S. network run. Generally, a series must have a network run of at least three or four years to be successfully sold in domestic off-network syndication. In off-network syndication, the Company distributes series such as CSI:, CSI: Miami, CSI: NY, Criminal Minds, NCIS and NCIS: Los Angeles as well as a library of older television programs. The Company also produces and/or distributes first-run syndicated series such as Wheel of Fortune, Jeopardy!, Entertainment Tonight, Inside Edition, The Insider, Dr. Phil, Rachael Ray and Judge Judy. The Company also distributes syndicated and other programming internationally.

        In furtherance of the Company's efforts to monetize its content through digital media, the Company enters into numerous multi-year licensing agreements for distribution of certain of its programming to various services, including the digital streaming on subscription video-on-demand services owned by Netflix (in the U.S., Canada, countries in Europe and Latin America), Amazon (in the U.S., Germany and the U.K.), Comcast, Hulu (each, in the U.S.), Hulu Plus (in the U.S. and Japan), and DLA (in countries in Latin America and the Caribbean), among others; and the digital downloading on various electronic-sell-through services owned by Apple (in the U.S., Canada, Australia and countries in Europe), Amazon, Google and Microsoft (each, in the U.S.), among others.

        Fees for television programming licensed for syndication and digital streaming are recorded as revenues at the beginning of the license period in which the programs are made available for exhibition, which, among other reasons, may cause substantial fluctuations in the Entertainment segment's operating results. Unrecognized revenues attributable to such license agreements were $1.14 billion and $1.31 billion at December 31, 2013 and December 31, 2012, respectively.

        The Company continues to expand its global channel presence through domestic and international joint ventures. During the first quarter of 2013, the Company acquired a 50% interest in a joint venture with Lionsgate, which owns and operates the entertainment cable network, TVGN (TV Guide Network). The Company also acquired a 20% interest in a joint venture, which owns and operates AXS TV, a television channel exhibiting music programming, festivals, special events and other programming in the U.S., Canada and the Caribbean. The Company owns 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 U.K. and Ireland, including CBS Action™, CBS Drama™ and CBS Reality™. The Company also owns a 30% interest in a joint venture with another subsidiary of AMC Networks, which owns and operates nine cable and satellite channels in Europe, the Middle East and Africa broadcasting CBS programming and branded as CBS Action™, CBS Drama™, CBS Reality™ or CBS Europa™. In Australia, the Company owns an approximately 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 August 2013, the Company acquired a 30% interest in a joint venture with RTL Group to launch two cable channels in South East Asia in English and local languages, the first of which, RTL CBS Entertainment™, launched in September 2013.

        CBS Films.    CBS Films produces, acquires and distributes theatrical motion pictures across all genres. The budget for each picture is intended to be up to $50 million plus advertising and marketing costs at a level consistent with industry custom. The majority of motion pictures produced or acquired by CBS Films is intended for a wide, commercial theatrical release, similar to motion pictures typically produced and released by major studios. CBS Films' theatrical releases in 2013 were The Last Exorcism Part II, The Kings of Summer, The To Do List, Last Vegas and Inside Llewyn Davis.

        In general, motion pictures produced or acquired by CBS Films are exhibited theatrically in the U.S. and internationally, followed by exploitation via home entertainment (including DVDs and Blu-ray Discs and electronic rental and sell-through), video-on-demand, pay-per-view, pay television, free television and basic cable, digital media outlets and, in some cases, other channels such as airlines and hotels. CBS Films exploits its motion pictures (including certain ancillary rights, such as licensing and merchandising) and

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generates revenues in all media in the relevant release windows either directly, through affiliated CBS entities, or via third party distribution arrangements.

        CBS Interactive.    CBS Interactive is one of the leading global publishers of premium content on the Internet. CBS Interactive was ranked among the top Internet properties in the world according to comScore Media Metrix, December 2013. CBS Interactive's leading brands, including CNET, CBS.com, CBSSports.com, GameSpot, TVGuide.com, TV.com, CBSNews.com, ZDNet, Last.fm, and MetroLyrics.com, among others, serve targeted audiences with text, video, audio, and mobile content spanning technology, entertainment, sports, news, business, gaming and music categories. In addition to its U.S.-based business, CBS Interactive operates in Asia, Australia and Europe. CBS Interactive's worldwide brands reached approximately 283 million unique monthly visitors during December 2013 according to comScore Media Metrix, December 2013.

        CBS Interactive generates revenue principally from the sale of advertising and sponsorships, in addition to fees derived from search and commerce partners, licensing fees, subscriptions, e-commerce activities, and other paid services. Advertising spending on the Internet, as in traditional media, fluctuates significantly with economic conditions. In addition, online marketing spending follows seasonal consumer behavior throughout the calendar year to reflect trends during the calendar year.

CNET.com is one of the preeminent Websites for technology and consumer electronics information and features news, reviews, downloads and instructional and entertaining video and audio shows about technology. In September 2013, the Company launched CNET en Espanol, which delivers CNET.com's information in the U.S. to Spanish speakers. TVGuide.com and its mobile properties, which were wholly acquired by the Company in May 2013, provide comprehensive information about television programming. GameSpot is a leading gaming information Website providing video game reviews and previews, news, eSports, Webcasts, videos, and game downloads. CBSSports.com provides sports content, fantasy sports, community and e-commerce features, and also owns and operates MaxPreps.com. Last.fm is a music recommendation, discovery and social networking site, and MetroLyrics.com is one of the most popular databases for song lyrics online. TV.com is a destination for entertainment and community around television where visitors can watch videos and discuss and obtain information about television shows across all networks. CBS Interactive also operates CBS.com, the online destination for CBS Television Network programming. Further extending the CBS.com experience, during 2013, the Company launched a CBS App offering streaming of various programs from the Company's current network programming and library to Android, iPhone, iPad and Windows 8 users. Through the CBS Audience Network™, the Company delivers video content from its Websites and television, radio and affiliated stations under an advertiser-supported distribution model. The growing slate of the Company's content available online includes full episodes, clips and highlights based on CBS, CBS Sports Network and Showtime Networks programming as well as original made-for-the-Web content.

Entertainment Competition.

        Television Network.    The television broadcast environment is highly competitive. The principal methods of competition in broadcast television are the development and acquisition of popular programming and the development of audience interest through programming and promotion, in order to sell advertising at profitable rates. Broadcast networks like CBS compete for audience, advertising revenues and programming with other broadcast networks such as ABC, FOX, NBC, The CW and MyNetworkTV, independent television stations, cable program services as well as other media, including DVDs and Blu-ray Discs, print and the Internet. In addition, the CBS Television Network competes with the other broadcast networks to secure affiliations with independently owned television stations in markets across the country, which are necessary to ensure the effective distribution of network programming to a nationwide audience.

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        Television Production and Syndication.    As a producer and distributor of programming, the Company competes with studios, television production groups, and independent producers and syndicators such as Disney, Fox, NBCUniversal, Sony and Warner Bros. to produce and sell programming both domestically and overseas. The Company also competes to obtain creative talent and story properties which are essential to the success of all of the Company's entertainment businesses.

        CBS Films.    Motion picture production and distribution is a highly competitive business. During the life cycle of the development and production of a motion picture project, CBS Films must compete for the rights to compelling underlying source material and talent such as writers, producers, directors, on-screen performers and other creative personnel. CBS Films must also compete with other buyers for the acquisition of third-party produced motion pictures. Once a motion picture is completed or acquired, CBS Films must compete with numerous other motion pictures produced and/or distributed by various studios and independent producers including Paramount Pictures Corporation, Walt Disney Studios Motion Pictures, Warner Bros. Entertainment Inc., Lions Gate Entertainment, The Weinstein Company, Relativity Media, Metro-Goldwyn-Mayer Studios Inc. and Lakeshore Entertainment Group, among others, for audience acceptance as well as limited exhibition outlets across all of the relevant release windows. In addition, the ultimate consumer has many options for entertainment other than motion pictures including video games, sports, travel, outdoor recreation, the Internet, and other cultural and computer-related activities.

        CBS Interactive.    CBS Interactive competes with a variety of online properties for users, advertisers, and partners, including the following: general purpose portals such as AOL, MSN and Yahoo!, especially as these properties expand their content offerings; search engines such as Google, Yahoo! and Bing; online comparison shopping and retail properties, including Amazon.com; vertical content sites in the categories that CBS Interactive's brands serve, such as technology, gaming, music, news, business, food, and lifestyle focused Websites; other content sites such as Hulu, HBO GO and ESPN.com as well as major television broadcast company websites; and platforms such as blogs, podcasts and video properties. CBS Interactive also competes for users and advertisers with diversified media companies that provide both online and offline content, including magazines, cable television, network television, radio and newspapers.

Cable Networks (14%, 13% and 12% of the Company's consolidated revenues in 2013, 2012 and 2011, respectively, and 27%, 26% and 26% of the Company's consolidated operating income in 2013, 2012 and 2011, respectively)

        The Cable Networks segment is composed of Showtime Networks, the Company's premium subscription program services; CBS Sports Network, the Company's cable network focused on college athletics and other sports; and Smithsonian Networks, a venture with Smithsonian Institution, which operates Smithsonian Channel.

        Showtime Networks.    Showtime Networks owns and operates three commercial-free, premium subscription program services in the U.S.: Showtime, offering recently released theatrical feature films, original series, documentaries, boxing and other sports-related programming, and special events; The Movie Channel®, offering recently released theatrical feature films and related programming; and Flix®, offering theatrical feature films primarily from the last several decades, as well as selected other titles. At December 31, 2013, Showtime, The Movie Channel and Flix, in the aggregate, had approximately 76 million subscriptions in the U.S., certain U.S. territories and Bermuda.

        Showtime Networks also owns and operates multiplexed channels of Showtime and The Movie Channel in the U.S. which offer additional and varied programming choices. In addition, Showtime Networks transmits high definition feeds of Showtime, The Movie Channel and many of their multiplexed channels, and also makes versions of Showtime, The Movie Channel and Flix available "on demand," enabling subscribers to watch selected individual programs at their convenience (in both standard and high definition in the case of Showtime and The Movie Channel, and standard definition in the case of Flix).

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Showtime Networks also makes available Showtime Anytime®, an authenticated version of Showtime, which can be accessed on computers via showtimeanytime.com or via certain portable devices through a Showtime Anytime software application or "app" free of charge to Showtime subscribers as part of their Showtime subscription through participating Showtime Networks' distributors. Through Showtime Anytime, Showtime subscribers can view hundreds of hours of on demand programming as well as live telecasts of the east and west coast feeds of Showtime. Showtime Networks additionally operates the Website SHO.com and various apps, which promote Showtime, The Movie Channel and Flix programming, and provide information and entertainment and other services.

        Showtime Networks derives revenue principally from the license of its program services to numerous MVPDs, with a substantial portion of such revenue coming from three of the largest such distributors. The costs of acquiring exhibition rights to programming and producing original series are the principal expenses of Showtime Networks. Showtime Networks enters into commitments to acquire rights, with an emphasis on acquiring exclusive rights for Showtime and The Movie Channel, from major or independent motion picture studios and other distributors typically covering the U.S. and Bermuda for varying durations, including exclusive motion picture output agreements with CBS Films, Buena Vista Pay Television, a subsidiary of The Walt Disney Company (for certain DreamWorks motion pictures), The Weinstein Company and Open Road Films. Showtime Networks' original series in 2013 included Homeland, Dexter®, Ray Donovan, Masters of Sex, Shameless, Nurse Jackie, House of Lies and Episodes, among others. Showtime Networks also telecasts various sports-related programs, including Inside the NFL, 60 Minutes Sports and Jim Rome on Showtime. Showtime Networks has entered into and may from time to time enter into co-financing, co-production and/or distribution arrangements with other parties to reduce the net cost to Showtime Networks for its original programming. In addition, Showtime Networks derives revenue by licensing rights it retains in certain of its original programming. For example, Showtime Networks and its corporate affiliate(s) have entered into licenses with television networks in various territories for exhibition of certain original series, as well as licensing arrangements with several Internet distributors, including Netflix, iTunes and Amazon, among others, for certain Showtime programming, such as Dexter. Showtime Networks also produces and/or provides special events to licensees on a pay-per-view basis through Showtime PPV®. In 2013, Showtime Networks entered into an agreement to produce and distribute up to six Floyd Mayweather boxing matches live on a pay-per-view basis and on a delayed basis on Showtime.

        Showtime Networks also owns a majority of and manages Smithsonian Networks, a venture with Smithsonian Institution, which operates Smithsonian Channel, a basic cable service in the U.S., featuring programs of a cultural, historical, scientific and educational nature. Smithsonian Networks offers both standard and high definition versions of Smithsonian Channel and a companion on-demand version. Smithsonian Networks additionally makes Smithsonian Channel content available on an authenticated basis to certain distributors. It also operates the Website SmithsonianChannel.com and various apps, which promote Smithsonian Channel programming and provide information and entertainment services. In 2013, Smithsonian Networks entered into agreements with Blue Ant Television to create Smithsonian Channel in Canada, which launched in November 2013.

        CBS Sports Network.    CBS Sports Network is a 24-hour cable program service that provides sports and related content, with a strong focus on college sports. The network televises in high definition over 350 live professional, amateur, semi-professional and collegiate events annually, highlighted by Division I college football, basketball, hockey and lacrosse, as well as professional bull riding (PBR), professional basketball (NBA Development League), professional lacrosse (MLL) and arena football (AFL). In addition, the network showcases a variety of original programming, including documentaries and features, studio shows, such as weeknight news and commentary show, ROME, featuring host Jim Rome, and Lead Off, and weekly shows such as NFL Monday QB. CBS Sports Network also provides ancillary coverage for CBS Sports relating to major events such as the NCAA Division I Men's Basketball Tournament, the Masters, the PGA Championship and U.S. Open Tennis. CBS Sports Network had approximately 51 million

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subscribers as of December 31, 2013. The network derives its revenues from subscription fees and the sale of advertising. CBS Sports Network has secured carriage arrangements with the top MVPDs.

Cable Networks Competition.

        Showtime Networks.    Showtime Networks primarily competes with other providers of premium subscription program services in the U.S., including Home Box Office, Inc. and Starz. Competition among these premium subscription program services in the U.S. is dependent on: (i) the production, acquisition and packaging of original series and other original programming and the acquisition and packaging of an adequate number of recently released theatrical motion pictures; and (ii) the offering of prices, marketing and advertising support and other incentives to MVPDs for carriage so as to favorably position and package Showtime Networks' premium subscription program services to subscribers. Home Box Office, Inc. is the largest company in the U.S. premium subscription program service category, offering two premium subscription program services, HBO and Cinemax. Showtime Networks competes with Home Box Office, Inc. and has a smaller share of the premium subscription program service category. Starz, another premium subscription program service, competes with Showtime Networks' and Home Box Office, Inc.'s premium program services. In addition, Showtime Networks competes with newer, non-traditional subscription programming services delivered via the Internet, such as Netflix, for original programming, theatrical motion pictures and viewership. Showtime Networks also competes for programming, distribution and/or audiences with basic cable program services, broadcast television and other media, including DVDs and Blu-ray Discs, portable devices and the Internet.

        Smithsonian Networks competes for programming, distribution and/or audiences with non-fiction and other basic cable program services, including Discovery Channel, National Geographic Channel and History, as well as with broadcast television and other media, such as DVDs and Blu-ray Discs, portable devices and the Internet.

        CBS Sports Network.    CBS Sports Network principally competes with cable programming services, including other sports-oriented cable programming services, for distribution and license fee revenue among MVPDs, as well as for viewership and advertising revenue. The effects of consolidation among MVPDs and consumer pricing sensitivity have made it more difficult for newer channels to secure broad distribution in mainstream programming packages. In addition, the largest cable providers have created sports tiers for sports programming services which have not, in many cases, achieved significant subscriber penetration or acceptance. CBS Sports Network is completing its repositioning to be included in programming packages with more subscribers. Re-alignment of college athletic conferences and their member institutions may adversely impact CBS Sports Network's programming arrangements. CBS Sports Network also competes with cable programming services generally, including other sports programming services, such as ESPN, NBC Sports Network and the FOX Sports Networks, in acquiring the television and multimedia rights to sporting events, resulting in increased rights fees and increased production expenses.

        The terms and favorable renewal of agreements with distributors for the distribution of the Company's subscription program services are important to the Company. The effects of consolidation among MVPDs and other marketplace factors make it more difficult to reach and maintain favorable terms and could have an adverse effect on revenues.

Publishing (5%, 6% and 6% of the Company's consolidated revenues in 2013, 2012 and 2011, respectively, and 3% of the Company's consolidated operating income in each of 2013, 2012 and 2011)

        The Publishing segment consists of Simon & Schuster, which publishes and distributes consumer books in the U.S. and internationally.

        Simon & Schuster publishes and distributes adult and children's consumer books in printed, digital and audio formats in the U.S. and internationally. Digital formats include audio downloads for the Apple

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iPod and other companies' MP3 players, electronic books for increasingly popular devices such as Amazon's Kindle, the Apple iPad and Barnes & Noble's NOOK, stand-alone applications for the Apple iPod and iPhone, and new hybrid text and video combinations. Simon & Schuster's major adult imprints include Simon & Schuster, Pocket Books, Scribner, Atria Books®, Gallery Books®, Touchstone®, Threshold Editions™ and Howard Books®. Simon & Schuster's major children's imprints include Simon Pulse®, Aladdin®, Athenium Books for Young Readers™ and Simon & Schuster Books For Young Readers™. Simon & Schuster also develops special imprints and publishes titles based on the products of certain CBS businesses as well as that of third parties and distributes products for other publishers. Simon & Schuster distributes its products directly and through third parties. Simon & Schuster also delivers content and promotes its products on general Internet sites as well as those linked to individual titles; its created assets include online videos showcasing Simon & Schuster authors and new releases on YouTube, iTunes, Blinkx, AOL, SimonandSchuster.com and other sites. International publishing includes the international distribution of English-language titles through Simon & Schuster UK, Simon & Schuster Canada, Simon & Schuster Australia, Simon & Schuster India and other distributors, as well as the publication of local titles by Simon & Schuster UK and Simon & Schuster Australia.

        In 2013, Simon & Schuster published 326 New York Times bestsellers in hardcover, paperback and electronic formats, collectively, including 37 New York Times #1 bestsellers. Best-selling titles in 2013 include Doctor Sleep (Stephen King), Happy, Happy, Happy (Phil Robertson) and Si-cology 1: Tales and Wisdom from Duck Dynasty's Favorite Uncle (Si Robertson). Bestselling children's titles from Simon & Schuster include City of Bones (Cassandra Clare), Clockwork Princess (Cassandra Clare) and Dork Diaries 6 (Rachel Renee Russell). Simon & Schuster Digital™, through SimonandSchuster.com, publishes original content, builds reader communities and promotes and sells Simon & Schuster's books over the Internet.

        The consumer publishing marketplace is subject to increased periods of demand in the summer months and during the end-of-year holiday season. Major new title releases represent a significant portion of Simon & Schuster's sales throughout the year. Simon & Schuster's top two accounts drive a significant portion of its annual revenue. Consumer print books are generally sold on a fully returnable basis, resulting in the return of unsold books. In the domestic and international markets, the Company is subject to global trends and local economic conditions. In 2013, the sale of digital content represented approximately 27% of Simon & Schuster's revenues. The Company expects that electronic books will continue to represent an increasing portion of Simon & Schuster revenues in the coming years.

        Publishing Competition.    The consumer publishing business is highly competitive and has been affected over the years by consolidation trends and new electronic distribution methods and models. Mass merchandisers and on-line retailers are significant factors in the industry contributing to the general trend toward consolidation in the retail channel. The growth of the electronic book market has impacted print book retailers and wholesalers and could result in a reduction of these channels for the sales and marketing of the Company's books. In addition, unfavorable economic conditions and competition may adversely affect book retailers' operations, including distribution of the Company's books. The Company must compete with other larger publishers such as Penguin Random House, Hachette and Harper Collins for the rights to works by authors and sales to retailers and customers. Competition is particularly strong for well-known authors and public personalities. In addition, technological changes have made it increasingly possible for authors to self-publish and have led to the development of new digital distribution models in which the Company's books must compete with the availability of both a larger volume of books as well as non-book content.

Local Broadcasting (18%, 20% and 20% of the Company's consolidated revenues in 2013, 2012 and 2011, respectively, and 25%, 28% and 29% of the Company's consolidated operating income in 2013, 2012 and 2011, respectively)

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        The Local Broadcasting segment is composed of CBS Television Stations, the Company's 30 owned broadcast television stations, and CBS Radio, through which the Company owns and operates 126 radio stations in 27 U.S. markets and related online properties. The Company operates local Websites in major U.S. markets, including New York, Los Angeles, Chicago, San Francisco and Dallas, which combine the Company's television and radio local media brands online to provide the latest news, traffic, weather, and sports information as well as local discounts, directories and reviews to serve the local community.

        CBS Television Stations.    The Company owns 30 broadcast television stations through its CBS Television Stations group, all of which operate under licenses granted by the Federal Communications Commission ("FCC") pursuant to the Communications Act of 1934, as amended (the "Communications Act"). The licenses are renewable every eight years. The Company's television stations are located in the 7 largest, and 15 of the top 20, television markets in the U.S. The Company owns multiple television stations within the same designated market area ("DMA") in 10 major markets. These multiple station markets are: New York (market #1), Los Angeles (market #2), Philadelphia (market #4), Dallas-Fort Worth (market #5), San Francisco-Oakland-San Jose (market #6), Boston (market #7), Detroit (market #11), Miami-Ft. Lauderdale (market #16), Sacramento-Stockton-Modesto (market #20), and Pittsburgh (market #23). This group of television stations enables the Company to reach a wide audience within and across geographically diverse markets in the U.S. The stations produce news and broadcast public affairs, sports and other programming to serve their local markets and offer CBS, The CW or MyNetworkTV programming and syndicated programming. The CBS Television Stations group principally derives its revenues from the sale of advertising time on its television stations. In addition, the CBS Television Stations group receives retransmission fees from MVPDs for authorizing the MVPDs' carriage of the Company's owned television stations. Substantially all of the Company's television stations operate Websites, many of which are combined with the Websites of the Company's radio stations in co-located markets, which promote the stations' programming and provide news, information, entertainment, and other services, through the CBS Local Digital Media group. These Websites principally derive revenues from the sale of advertising.

Television Stations

        The table below sets forth the broadcast television stations owned by the Company as of February 11, 2014.

Station and Metropolitan Area Served(1)	Market Rank(2)	Type	Network Affiliation
WCBS-TV New York, NY	1	UHF	CBS
WLNY-TV New York, NY	1	UHF	Independent
KCAL-TV Los Angeles, CA	2	VHF	Independent
KCBS-TV Los Angeles, CA	2	UHF	CBS
WBBM-TV Chicago, IL	3	VHF	CBS
KYW-TV Philadelphia, PA	4	UHF	CBS
WPSG-TV Philadelphia, PA	4	UHF	The CW

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Station and Metropolitan Area Served(1)	Market Rank(2)	Type	Network Affiliation
KTVT-TV Dallas-Fort Worth, TX	5	UHF	CBS
KTXA-TV Dallas-Fort Worth, TX	5	UHF	Independent
KPIX-TV San Francisco-Oakland-San Jose, CA	6	UHF	CBS
KBCW-TV San Francisco-Oakland-San Jose, CA	6	UHF	The CW
WBZ-TV Boston, MA	7	UHF	CBS
WSBK-TV Boston, MA	7	UHF	MyNetworkTV
WUPA-TV Atlanta, GA	9	UHF	The CW
WKBD-TV Detroit, MI	11	UHF	The CW
WWJ-TV Detroit, MI	11	UHF	CBS
KSTW-TV Seattle-Tacoma, WA	13	VHF	The CW
WTOG-TV Tampa-St. Petersburg-Sarasota, FL	14	UHF	The CW
WCCO-TV Minneapolis-St. Paul, MN	15	UHF	CBS
Satellites:
KCCO-TV(3) Alexandria, MN		VHF	CBS
KCCW-TV(4) Walker, MN		VHF	CBS
WFOR-TV Miami-Ft. Lauderdale, FL	16	UHF	CBS
WBFS-TV Miami-Ft. Lauderdale, FL	16	UHF	MyNetworkTV
KCNC-TV Denver, CO	17	UHF	CBS
KOVR-TV Sacramento-Stockton-Modesto, CA	20	UHF	CBS
KMAX-TV Sacramento-Stockton-Modesto, CA	20	UHF	The CW
KDKA-TV Pittsburgh, PA	23	UHF	CBS
WPCW-TV Pittsburgh, PA	23	VHF	The CW

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Station and Metropolitan Area Served(1)	Market Rank(2)	Type	Network Affiliation
WBXI-CA(5) Indianapolis, IN	26	UHF	ItWorks Weather Service
WJZ-TV Baltimore, MD	27	VHF	CBS

(1)

Metropolitan Area Served is Nielsen Media Research's DMA.

(2)

Market Rankings based on Nielsen Media Research Local Market Universe Estimate, September 2013.

(3)

KCCO-TV is operated as a satellite station of WCCO-TV.

(4)

KCCW-TV is operated as a satellite station of WCCO-TV.

(5)

WBXI-CA is a Class A low power television station. Class A low power television stations do not implicate the FCC's ownership rules.

        CBS Radio.    The Company's radio broadcasting business operates through CBS Radio, one of the largest operators of radio stations in the U.S. CBS Radio owns and operates 126 radio stations serving 27 U.S. markets as of February 11, 2014. Virtually all of the Company's owned and operated radio stations are located in the 50 largest U.S. radio markets and approximately 79% in the 25 largest U.S. radio markets. Most of the Company's owned radio stations implement digital broadcasting. The Company's strategy generally is to operate radio stations in the largest markets and take advantage of the Company's ability to sell advertising across multiple markets and formats. CBS Sports Radio Network launched in January 2013 and provides up to 24-hours, seven-days-a-week of national sports programming to affiliated radio stations. The network has more than 300 affiliates across the country and Canada, including radio stations in 9 of the top 10 U.S. radio markets. Cumulus Media, as CBS Sports Radio Network's exclusive syndicator, is responsible for securing radio station affiliates and for the network's advertising sales. The Company believes that it is favorably impacted by offering radio, television and outdoor advertising platforms in large markets. The "Radio Stations, Television Stations and Outdoor Advertising Displays" table below includes information with respect to the Company's radio stations in the top 25 U.S. radio markets.

        CBS Radio's geographically dispersed stations serve diverse target demographics through a broad range of formats such as rock, classic hits/oldies, all-news, talk, Spanish language, adult contemporary, top 40/contemporary hit radio, urban, sports and country, and CBS Radio has established leading franchises in news, sports and personality programming. This diversity provides advertisers with the convenience of selecting stations to reach a targeted demographic or groups of stations to reach broad groups of consumers within and across markets and also reduces the Company's dependence on any single station, local economy, format or advertiser. At the same time, CBS Radio maintains substantial diversity in each market where its stations operate so that its stations can appeal to several demographic groups. CBS Radio's general programming strategies include employing popular on-air talent, some of whose broadcasts may be syndicated by CBS Radio using the services of a third party syndicator, broadcasting programming syndicated to it by others, acquiring the rights to broadcast sports play-by-play and producing and acquiring news content for its radio stations. The overall mix of each radio station's programming lineup is designed to fit the station's specific format and serve its local community.

        The majority of CBS Radio's revenues are generated from the sale of local and national advertising. The major categories of radio advertisers include: automotive, retail, healthcare, telecommunications, insurance, fast food, beverage, movies and entertainment. CBS Radio is able to use the reach, diversity and branding of its radio stations to create unique division-wide marketing and promotional initiatives for major national advertisers of products and services. Advertising expenditures by advertisers fluctuate, which has an effect on CBS Radio's revenues.

        Substantially all of the Company's radio stations operate Websites, many of which are combined with the Websites of the Company's television stations in co-located markets, which promote the stations' programming, and provide news, information and entertainment, as well as other services. Also, CBS Radio operates Websites for its music radio stations. All of these Websites are part of the CBS Local Digital Media group and principally derive revenues from the sale of advertising. CBS Radio is one of the

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most listened to online radio providers according to Triton Digital's monthly Top 20 Ranker for December 2013.

Local Broadcasting Competition.

        CBS Television Stations.    Television stations compete for programming, on-air talent, audiences and advertising revenues with other stations and cable networks in their respective coverage areas and, in some cases, with respect to programming, with other station groups, and, in the case of advertising revenues, with other local and national media. The owned and operated television stations' competitive position is largely influenced by the quality of the syndicated programs and local news programs in time periods not programmed by the network; the strength of the CBS Television Network programming and, in particular, the viewership of the CBS Television Network in the time period immediately prior to the late evening news; and in some cases, by the quality of the broadcast signal.

        CBS Radio.    The Company's radio stations directly compete within their respective markets for audience, advertising revenues and programming with other radio stations, including those owned by other group owners such as Clear Channel Communications, Inc., Cumulus Media Inc., Emmis Communications Corporation, Entercom Communications Corp. and Radio One, Inc. The Company's radio stations, including their Internet and streaming activities, also compete with other media, such as broadcast, cable and DBS television, newspapers, magazines, direct mail, and the Internet, including services such as Pandora, Spotify and Rhapsody. The radio industry is also subject to competition from Sirius XM Holdings Inc., which provides digital audio services to subscribers.

        The Company's television and radio stations face increasing competition from newer technologies, including audio and visual programming delivered via the Internet, which create new ways for individuals to watch programming and listen to music and other content of their choosing while avoiding traditional commercial advertisements. Also, an increasingly broad adoption by consumers of portable digital devices could affect the ability of the Company's television and radio stations to attract audiences and advertisers.

        Aggregate total revenues for the Company's radio stations for 2013 were ranked #1 or #2 in four of the top five U.S. markets by metro area population (New York, Los Angeles, Chicago, and San Francisco), according to the 2013 Market Total Revenues Performance Summary of Miller, Kaplan, Arase & Co., LLP.

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Radio Stations, Television Stations and Outdoor Advertising Displays

        The following table sets forth information with regard to the Company's radio stations, television stations and outdoor advertising displays as of February 11, 2014 in the top 25 U.S. radio markets:

	Radio			Television			Outdoor Americas
Market and Market Rank(1)	Stations	AM/ FM	Format	Stations	Type	Network Affiliation	Display Type
New York, NY	WCBS	AM	News	WCBS-TV	UHF	CBS	Billboards,
	WCBS	FM	Classic Hits	WLNY-TV	UHF	Independent	Subway/Rail, Bus,
#1—Radio	WFAN	AM	Sports				Transit Structures, Malls,
#1—Television	WFAN	FM	Sports				Digital In-Store Networks
	WINS	AM	News
	WNOW	FM	Contemporary Hit Radio
	WWFS	FM	Hot Adult Contemporary
Los Angeles, CA(2)	KAMP	FM	Contemporary Hit Radio	KCAL-TV	VHF	Independent	Billboards, Rail, Bus,
	KCBS	FM	Adult Hits	KCBS-TV	UHF	CBS	Transit Structures,
#2—Radio	KNX	AM	News				Malls, Digital
#2—Television	KROQ	FM	Alternative Rock				In-Store Networks
	KRTH	FM	Classic Hits
	KTWV	FM	Urban Adult Contemporary
Chicago, IL	WBBM	AM	News	WBBM-TV	VHF	CBS	Billboards, Malls,
	WBBM	FM	Contemporary Hit Radio				Digital In-Store
#3—Radio	WCFS	FM	News				Networks
#3—Television	WJMK	FM	Classic Hits
	WSCR	AM	Sports
	WUSN	FM	Country
	WXRT	FM	Adult Alternative
San Francisco, CA	KCBS	AM	News	KPIX-TV	UHF	CBS	Billboards,
	KFRC	FM	News	KBCW-TV	UHF	The CW	Transit Structures,
#4—Radio	KITS	FM	Alternative Rock				Malls, Digital
#6—Television	KLLC	FM	Hot Adult Contemporary				In-Store Networks
	KMVQ	FM	Contemporary Hit Radio
	KZDG(3)	AM	Indian Talk/Music
Dallas-Fort Worth, TX	KJKK	FM	Adult Hits	KTVT-TV	UHF	CBS	Billboards, Transit
	KLUV	FM	Classic Hits	KTXA-TV	UHF	Independent	Structures, Malls,
#5—Radio	KMVK	FM	Spanish				Digital In-Store
#5—Television	KRLD	AM	News				Networks
	KRLD	FM	Sports
	KVIL	FM	Adult Contemporary
Houston, TX	KHMX	FM	Hot Adult Contemporary				Billboards, Malls,
	KIKK	AM	Sports				Digital In-Store
#6—Radio	KILT	AM	Sports				Networks
	KILT	FM	Country
	KKHH	FM	Contemporary Hit Radio
	KLOL	FM	Spanish
Washington, D.C.	WIAD	FM	Hot Adult Contemporary				Billboards,
	WJFK	AM	Sports				Subway/Rail, Bus,
#7—Radio	WJFK	FM	Sports				Malls, Digital
	WLZL	FM	Spanish				In-Store Networks
	WNEW	FM	News
	WPGC	FM	Rhythmic Contemporary Hit Radio
Philadelphia, PA	KYW	AM	News	KYW-TV	UHF	CBS	Billboards, Malls,
	WIP	AM	Sports	WPSG-TV	UHF	The CW	Digital In-Store Networks
#8—Radio	WIP	FM	Sports
#4—Television	WOGL	FM	Classic Hits
	WPHT	AM	News/Talk
Atlanta, GA	WAOK	AM	News/Talk	WUPA-TV	UHF	The CW	Billboards, Rail, Bus,
	WVEE	FM	Urban				Transit Structures,
#9—Radio	WZGC	FM	Sports				Malls, Digital In-Store
#9—Television							Networks

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	Radio			Television			Outdoor Americas
Market and Market Rank(1)	Stations	AM/ FM	Format	Stations	Type	Network Affiliation	Display Type
Boston, MA	WBMX	FM	Hot Adult Contemporary	WBZ-TV	UHF	CBS	Billboards, Malls,
	WBZ	AM	News	WSBK-TV	UHF	MyNetworkTV	Digital In-Store Networks
#10—Radio	WBZ	FM	Sports
#7—Television	WODS	FM	Contemporary Hit Radio
	WZLX	FM	Classic Rock
Miami-Ft. Lauderdale, FL				WFOR-TV	UHF	CBS	Billboards, Rail, Bus,
				WBFS-TV	UHF	MyNetworkTV	Malls, Digital
#11—Radio							In-Store Networks
#16—Television
Detroit, MI	WDZH	FM	Contemporary Hit Radio	WKBD-TV	UHF	The CW	Billboards, Bus,
	WOMC	FM	Classic Hits	WWJ-TV	UHF	CBS	Malls, Digital
#12—Radio	WWJ	AM	News				In-Store Networks
#11—Television	WXYT	AM	Sports
	WXYT	FM	Sports
	WYCD	FM	Country
Seattle-Tacoma, WA	KJAQ	FM	Adult Hits	KSTW-TV	VHF	The CW	Billboards, Malls,
	KMPS	FM	Country				Digital In-Store
#13—Radio	KFNQ	AM	Sports				Networks
#13—Television	KZOK	FM	Classic Rock
Phoenix, AZ	KMLE	FM	Country				Billboards, Rail,
	KOOL	FM	Classic Hits				Transit Structures, Malls,
#14—Radio	KZON	FM	Contemporary Hit Radio				Digital In-Store Networks
Puerto Rico							Billboards
#15—Radio
Minneapolis, MN	KMNB	FM	Country	WCCO-TV	UHF	CBS	Billboards,
	KZJK	FM	Adult Hits	KCCO-TV	VHF	CBS	Transit Structures,
#16—Radio	WCCO	AM	News/Talk	KCCW-TV	VHF	CBS	Malls, Digital In-Store
#15—Television							Networks
San Diego, CA	KEGY	FM	Contemporary Hit Radio				Billboards, Malls,
	KYXY	FM	Adult Contemporary				Digital In-Store Networks
#17—Radio
Tampa-St. Petersburg, FL	WLLD	FM	Rhythmic Contemporary Hit Radio	WTOG-TV	UHF	The CW	Billboards, Malls,
	WHFS	AM	Sports				Digital In-Store
#18—Radio	WQYK	FM	Country				Networks
#14—Television	WRBQ	FM	Classic Hits
	WHFS	FM	Sports
	WYUU	FM	Spanish
Denver, CO				KCNC-TV	UHF	CBS	Billboards, Transit Structures, Malls, Digital
#19—Radio							In-Store Networks
#17—Television
Nassau-Suffolk, NY(4)							Billboards, Rail, Bus, Digital In-Store Networks
#20—Radio
Baltimore, MD	WJZ	AM	Sports	WJZ-TV	VHF	CBS	Billboards, Malls,
	WJZ	FM	Sports				Digital In-Store Networks
#21—Radio	WLIF	FM	Adult Contemporary
#27—Television	WWMX	FM	Hot Adult Contemporary
St. Louis, MO	KEZK	FM	Adult Contemporary				Billboards, Malls,
	KMOX	AM	News/Talk				Digital In-Store
#22—Radio	KYKY	FM	Hot Adult Contemporary				Networks
Portland, OR							Billboards, Malls, Digital In-Store Networks
#23—Radio

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	Radio			Television			Outdoor Americas
Market and Market Rank(1)	Stations	AM/ FM	Format	Stations	Type	Network Affiliation	Display Type
Charlotte, NC	WBAV	FM	Urban Adult Contemporary				Malls,
	WBCN	AM	Sports				Digital In-Store
#24—Radio	WFNZ	AM	Sports				Networks
	WKQC	FM	Adult Contemporary
	WNKS	FM	Contemporary Hit Radio
	WPEG	FM	Urban
	WSOC	FM	Country
Pittsburgh, PA	KDKA	AM	News/Talk	KDKA-TV	UHF	CBS	Billboards, Malls,
	KDKA	FM	Sports	WPCW-TV	VHF	The CW	Digital In-Store
#25—Radio	WDSY	FM	Country				Networks
#23—Television	WBZZ	FM	Hot Adult Contemporary

(1)

Radio market rank based on Nielsen Radio Market Rankings: Fall 2013 as provided by The Nielsen Company. Television market rank based on Nielsen Media Research Local Market Universe Estimate, September 2013.

(2)

As required by the FCC, the Company assigned KFWB-AM to a divestiture trust. The Company is a beneficiary of the trust. The trustee is operating the radio station and is responsible for selling the radio station to a third party. (See "CBS Business Segments—Regulation—Broadcasting—Ownership Regulation—Radio-Television Cross-Ownership Rule").

(3)

KZDG-AM in San Francisco, California, is programmed by a third party through a time brokerage agreement.

(4)

Sub-market of New York City. The Company's New York City radio and television stations serve Nassau-Suffolk.

Outdoor Americas (9% of the Company's consolidated revenues in each of 2013, 2012 and 2011 and 7%, 7% and 8% of the Company's consolidated operating income in 2013, 2012 and 2011, respectively)

        The Company provides, through its Outdoor Americas businesses, advertising space on various structures, including billboards, rail, subway cars, buses, benches, trains, trams, transit shelters, urban panels, street kiosks, transit platforms and in retail stores. It has outdoor advertising structures in more than 100 markets in North America, including all 50 of the largest metropolitan markets in the U.S., 19 of the 20 largest metropolitan markets in Canada and all 45 of the largest metropolitan markets in Mexico. Additionally, Outdoor has a variety of outdoor structures in Puerto Rico, Argentina, Brazil, Uruguay and Chile. The Company operates its Outdoor businesses through CBS Outdoor in the U.S., Canada and South America and Vendor® in Mexico. The "Radio Stations, Television Stations and Outdoor Advertising Displays" table above includes information with regard to the Company's outdoor advertising properties in the top 25 U.S. radio markets.

        The substantial majority of Outdoor Americas' revenues is generated from providing advertising space to local, regional and national advertisers. Rates for advertising space for a particular structure are based on supply and demand, which are influenced by the structure's exposure, the demographics of the particular market and the location of the structure within that market. Metrics for fixed structures such as billboards and transit shelters, including demographic information and audience views, are measured through the out-of-home advertising industry's audience measurement system (TAB Out-of-Home Ratings), which provides customers with audience measurement information and the ability to target by gender, age, ethnicity and income. These metrics facilitate the inclusion of Outdoor Americas' inventory in the planning stages of media campaigns. The major categories of out-of-home advertisers include: entertainment, retail, healthcare, telecommunications, restaurants, financial services, travel and leisure and automotive industries. Outdoor Americas generally operates in the billboard, transit, and retail store advertising markets.

        CBS Outdoor generally owns the physical billboard structures on which it displays advertising copy for its customers, holds the legal permits to display the advertising on such structures and leases the underlying sites. Lease agreements are negotiated with both public and private landowners for terms varying between one month and multiple years and usually provide renewal options. There are no significant concentrations of billboard structures that are subject to any one lease or subject to negotiation with any one landlord.

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        Transit advertising is provided on or in transit systems, including the interiors and exteriors of rail and subway cars and buses, as well as on benches, trains, trams, transit shelters and platforms. Transit advertising contracts are negotiated with municipalities and transit operators and generally are for multi-year terms and provide for payment to the transit authority of a percentage of the revenues that Outdoor Americas receives from providing space to advertisers, a fixed payment, or the greater of a percentage of the revenues or a fixed payment. Where revenues are lower than anticipated, the minimum amount required to be paid to a transit authority may exceed, or be a high percentage of, the revenues received by Outdoor Americas under that advertising contract.

        Transit shelters and benches reach both vehicular and pedestrian audiences. Transit shelters are usually constructed, installed and maintained by Outdoor. Most of Outdoor Americas' transit shelter and bench contracts include revenue-sharing arrangements with a municipality or transit authority and often include minimum required payments. Such contracts usually involve a competitive bidding process and are awarded on the basis of projected revenues to the municipality, including minimum payments, and Outdoor Americas' willingness to construct public facilities, such as bus shelters, public toilets and information kiosks.

        The Company keeps apprised of and has adopted newer technologies for outdoor advertising displays, such as digital displays, as they evolve and mature. For example, Outdoor Americas is utilizing digital technology containing moving images in New York City subways and in retail outlets. Outdoor Americas is also building new digital billboards and digitizing the displays on previously static billboards. Digital displays allow for more visually engaging messages and provide customers with the flexibility to target audiences by region and retail environment. In addition, digital billboard displays enable Outdoor Americas to run multiple advertisements on each display and to quickly launch new advertising campaigns, which could attract additional business from both new and existing customers. Generally, Outdoor Americas enters into revenue-sharing arrangements with retailers.

        Outdoor Americas' business strategy involves operating in major selected markets, to grow its revenues and cash flow by being a leading provider of out-of-home advertising in the markets it serves, controlling costs, developing and entering into new markets and using advanced technologies to build greater awareness for its clients. In addition, the Company purchases structures within its existing markets or in contiguous markets to expand its reach. The Company believes that there will be continuing opportunities for implementing its acquisition and development strategies given the outdoor industry's fragmentation.

        During 2013, the Company announced its intention to separate its Outdoor Americas business and, subject to receiving a ruling from the IRS, convert it into a REIT. Subject to market conditions and customary approvals, CBS Outdoor Americas Inc. expects to sell up to 20% of its common stock through an 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 completion of the IPO.

        Outdoor Competition.    The outdoor advertising industry is fragmented, consisting of several large companies involved in providing outdoor space for advertising such as Clear Channel Outdoor Holdings, Inc., JCDecaux S.A. and Lamar Advertising Company as well as hundreds of smaller regional and local companies operating a limited number of display faces in a single or a few local markets. The Company competes with these companies for both customers and structure and display locations. The Company also competes with other media, including broadcast and cable television, radio, print media, the Internet and direct mail marketers, within their respective markets. In addition, it competes with a wide variety of out-of-home media, including providers of advertising space in shopping centers, airports, movie theaters, supermarkets and taxis. Advertisers compare relative costs of available media and cost-per-thousand impressions, particularly when delivering a message to customers with distinct demographic characteristics. In competing with other media, the outdoor advertising industry relies on its relative cost efficiency and its ability to reach specific markets, geographic areas and/or demographics. The Company keeps apprised of the evolution of new technologies in the industry. As new technologies such as

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digital billboards prove desirable to Outdoor Americas' customers and deliver appropriate returns on investment, the Company could face increased competition for rights to digital billboards and costs could increase. The Company believes that its strong emphasis on customer service and its position as a leading provider of space for out-of-home advertising in each of its primary markets as well as its international inventory enables it to compete effectively with the other outdoor companies, and other media, within those markets.

REGULATION

        The Company's businesses are either subject to or affected by regulations of federal, state and local governmental authorities in the U.S. and of national, regional and local authorities in foreign countries. The rules, regulations, policies and procedures affecting these businesses are subject to change. The descriptions which follow are summaries and should be read in conjunction with the texts of the statutes, rules and regulations described herein. The descriptions do not purport to describe all present and proposed statutes, rules and regulations affecting the Company's businesses.

Intellectual Property and Privacy

        Laws affecting intellectual property are of significant importance to the Company. (See "Intellectual Property" on page I-23 for more information on the Company's brands).

        Unauthorized Distribution of Copyrighted Content and Piracy.    Unauthorized distribution, reproduction or display of copyrighted material over the Internet and through physical devices without regard to content owners' copyright rights in television programming, motion pictures, clips and books, such as through pirated DVDs and Blu-ray Discs, user-generated content, streaming, Internet downloads, file "sharing" and peer-to-peer services, is a threat to copyright owners' ability to protect and exploit their property. The Company enters into and explores possibilities for commercial arrangements with various online providers to protect and exploit its content. The Company is also engaged in enforcement and other activities to protect its intellectual property and has participated in various litigations, public relations programs and legislative activity. Various litigations are pending regarding entities that stream the Company's broadcast content without obtaining the consent of or paying compensation to the Company, and the U.S. Supreme Court has granted certiorari to hear a case involving a challenge by major broadcasters to one such entity.

        Copyright Law and Content.    The Company derives revenues from the creation and exploitation of creative content, for which the copyright law grants certain exclusive rights, including to reproduce, publicly perform and distribute. In the U.S., the copyright term for authored works is the life of the author plus 70 years. For works made for hire, the copyright term is the shorter of 95 years from the first publication or 120 years from creation. Any changes to copyright laws, which diminish the scope of a copyright owner's exclusive rights, could impact the Company.

        Privacy.    The laws and regulations governing the collection, use and transfer of consumer information are complex and rapidly evolving, particularly as they relate to the Company's interactive businesses. The Company monitors and considers these laws and regulations in the design and operation of its Websites and legal and regulatory compliance programs.

Broadcasting

        General.    Television and radio broadcasting are subject to the jurisdiction of the FCC pursuant to the Communications Act. The Communications Act empowers the FCC, among other actions, to issue, renew, revoke and modify broadcasting licenses; determine stations' frequencies, locations and operating power; regulate some of the equipment used by stations; adopt other regulations to carry out the provisions of the Communications Act and other laws, including requirements affecting the content of broadcasts; and to impose penalties for violation of its regulations, including monetary forfeitures, short-term renewal of licenses and, in egregious cases, license revocation or denial of license renewals.

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        Under the Communications Act, the FCC also regulates certain aspects of the operation of MVPDs and certain other electronic media that compete with broadcast stations.

        Indecency and Profanity Regulation.    The FCC's rules prohibit the broadcast of obscene material at any time and indecent or profane material between the hours of 6 a.m. and 10 p.m. Broadcasters risk violating the prohibition against broadcasting indecent or profane material because the vagueness of the FCC's indecency/profanity definition makes it difficult to apply, particularly with respect to spontaneous, live programming. The FCC's maximum forfeiture penalty per station for broadcasting indecent or profane programming is $325,000 per indecent or profane utterance with a maximum forfeiture exposure of $3 million for any continuing violation arising from a single act or failure to act. The Company has been involved in litigation and, from time to time, has received and may receive in the future letters of inquiry from the FCC prompted by complaints alleging that certain programming on its broadcast stations included indecent or profane material.

        License Renewals.    Radio and television broadcast licenses are typically granted for standard terms of eight years. The Communications Act requires the FCC to renew a broadcast license if the FCC finds that the station has served the public interest, convenience and necessity and, with respect to the station, there have been no serious violations by the licensee of either the Communications Act or the FCC's rules and regulations and there have been no other violations by the licensee of the Communications Act or the FCC's rules and regulations that, taken together, constitute a pattern of abuse. The Company has a number of pending renewal applications. A station remains authorized to operate while its license renewal application is pending.

        License Assignments.    The Communications Act requires prior FCC approval for the assignment of a license or transfer of control of an FCC licensee. Third parties may oppose the Company's applications to assign, transfer or acquire broadcast licenses.

        Ownership Regulation.    The Communications Act and FCC rules and regulations limit the ability of individuals and entities to have an official position or ownership interest, known as an "attributable" interest, above specific levels in broadcast stations as well as in other specified mass media entities. In seeking FCC approval for the acquisition of a broadcast radio or television station license, the acquiring person or entity must demonstrate that the acquisition complies with the FCC's ownership rules or that a waiver of the rules is in the public interest.

        The FCC adopted a notice of proposed rule-making ("NPRM") in its latest quadrennial review of broadcast ownership rules in December 2011, which is still pending. In that NPRM, the FCC has proposed modifying the newspaper-broadcast cross-ownership and local television ownership rules and eliminating the radio-television cross-ownership rule. The FCC's current ownership rules and proposed changes are briefly summarized below.

Local Radio Ownership.    The FCC's local radio ownership rule applies in all markets where the Company owns radio stations. Under that rule, one party may own up to eight radio stations in the largest markets, no more than five of which may be either AM or FM. With a few exceptions, the rule permits the common ownership of 8 radio stations in the top 50 markets, where CBS Radio has significant holdings.

Local Television Ownership.    Under the FCC's local television ownership rule, one party may own up to two television stations in the same DMA, so long as at least one of the two stations is not among the top four-ranked stations in the market based on audience share as of the date an application for approval of an acquisition is filed with the FCC, and at least eight independently owned and operating full-power television stations remain in the market. Further, without regard to the number of remaining independently owned television stations, the rule permits the ownership of more than one television station within the same DMA so long as certain signal contours of the stations involved do not overlap. The NPRM proposed eliminating this provision of the local television ownership rule. "Satellite" television stations that simply

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rebroadcast the programming of a "parent" television station are exempt from the local television ownership rule if located in the same DMA as the "parent" station.

Television National Audience Reach Limitation.    Under the FCC's national television ownership rule, one party may not own television stations which reach more than 39% of all U.S. television households. For purposes of calculating the total number of television households reached by a station, the FCC attributes a UHF television station with only 50% of the television households in its market. In September 2013, the FCC adopted a notice of proposed rule-making to eliminate the UHF discount, which remains pending. The Company currently owns and operates television stations that reach approximately 38% of all U.S. television households but for purposes of the national ownership limitation, the Company's reach is less than this amount applying the UHF discount in accordance with the FCC's methodology.

Radio-Television Cross-Ownership Rule.    The radio-television cross-ownership rule limits the common ownership of radio and television stations in the same market. The numeric limit varies according to the number of independent media voices in the market. The Company owns a combination of radio and television stations in the Los Angeles market in excess of the limit. As required by the FCC, the Company assigned radio station KFWB-AM in Los Angeles to a divestiture trust. The Company is a beneficiary of the trust. The trustee is operating the radio station and is responsible for selling the radio station to a third party, the closing of which would bring the Company into compliance with this cross-ownership rule. As part of its quadrennial review of media ownership rules, the FCC has proposed to repeal this rule in favor of reliance on the local radio ownership rule and the local television ownership rule.

Newspaper-Broadcast Cross-Ownership.    The newspaper-broadcast cross-ownership rule prohibits the common ownership of a broadcast station and daily newspaper in the same market absent a waiver by the FCC. As part of its quadrennial review of media ownership rules, the FCC has proposed a rule that would presume a waiver to be consistent with the public interest if: (1) a daily newspaper sought to combine with a radio station in the same top 20 market, or (2) a daily newspaper sought to combine with a full-power commercial television station in the same top 20 market, and (a) the television station is not ranked among the top four television stations in the market and (b) at least eight independently owned and operated "major media voices" would remain in the market after the combination.

Dual Network Rule.    The dual network rule prohibits any of the four major networks, ABC, CBS, FOX and NBC, from combining.

        Attribution of Ownership.    Under the FCC's attribution rules, a direct or indirect purchaser of various types of securities of an entity which holds FCC licenses, such as the Company, could violate the foregoing FCC ownership regulations or policies if that purchaser owned or acquired an "attributable" interest in other media properties. Under the FCC's rules, an "attributable" interest for purposes of the FCC's broadcast ownership rules generally includes: equity and debt interests which combined exceed 33% of a licensee's total assets, if the interest holder supplies more than 15% of the licensee's total weekly programming, or has an attributable same-market media interest, whether television, radio, cable or newspaper; a 5% or greater direct or indirect voting stock interest, including certain interests held in trust, unless the holder is a qualified passive investor in which case the threshold is a 20% or greater voting stock interest; any equity interest in a limited liability company or a partnership, including a limited partnership, unless properly "insulated" from management activities; and any position as an officer or director of a licensee or of its direct or indirect parent. The FCC is reviewing its single majority voting shareholder attribution exemption, which renders as non-attributable voting interests up to 49% in a licensee controlled by a single majority voting shareholder. Because NAI holds an attributable interest in both the Company and Viacom Inc., the business of each company is attributable to the other for certain FCC purposes, which may have the effect of limiting and affecting the activities, strategic business alternatives

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and business terms available to the Company. (See Item 1A. "Risk Factors—The Businesses of the Company and Viacom Inc. Will Be Attributable to the Other Company for Certain Regulatory Purposes, Which May Limit Business Opportunities").

Alien Ownership.    In general, the Communications Act prohibits foreign individuals or entities from owning more than 20% or more than 25%, depending on the circumstances, of the voting power or equity of the Company. In November 2013, the FCC provided additional information regarding its case-by-case review process for applications that propose foreign ownership that exceed such 25% threshold.

        Cable and Satellite Carriage of Television Broadcast Stations.    The 1992 Cable Act and implementing FCC regulations govern the retransmission of commercial television stations by cable television operators. Every three years, a television station must elect, with respect to cable systems within its DMA, either "must carry" status, pursuant to which the cable system's carriage of the station is mandatory, or "retransmission consent," pursuant to which the station gives up its right to mandatory carriage and secures instead the right to negotiate consideration in return for consenting to carriage. The Company's owned television stations have elected the retransmission consent option in substantially all cases, and, since 2006, the Company has implemented a systematic process of seeking monetary consideration for its retransmission consent.

        Similarly, federal legislation and FCC rules govern the retransmission of broadcast television stations by DBS operators. DBS operators are required to carry the signals of all local television broadcast stations requesting carriage in local markets in which the DBS operator carries at least one signal pursuant to the statutory local-to-local compulsory copyright license. Every three years, each television station in such markets must elect "must carry" or "retransmission consent" status, in a manner similar to that described above with respect to cable systems. Substantially all of the Company's owned and operated television stations are being transmitted into their local markets by the two major DBS operators pursuant to retransmission consent agreements.

        Children's Television Programming.    Federal legislation and FCC rules limit the amount and content of commercial matter that may be shown on television stations during programming designed for children 12 years of age and younger, and require stations to broadcast on their main program stream three hours per week of educational and informational programming ("E/I programming") designed for children 16 years of age and younger. FCC rules also impose E/I programming requirements on each additional digital multicast program stream transmitted by television stations, with the requirement increasing in proportion to the additional hours of free programming offered on multicast channels. These rules also limit the display during children's programming of Internet addresses of Websites that contain or link to commercial material or that use program characters to sell products.

        Program Access.    Under the Communications Act, vertically integrated cable programmers (more fully described below) are generally prohibited from offering different prices, terms or conditions to competing MVPDs unless the differential is justified by certain permissible factors set forth in the FCC's regulations. Until recently, the FCC's "program access" rules also generally prohibited vertically integrated cable programmers from entering into exclusive distribution arrangements with cable operators. The FCC continues to assess the competitive impact of such individual exclusive contracts. A cable programmer is considered to be vertically integrated under the FCC's program access attribution rules if it owns or is owned by a cable operator in whole or in part. Cable operators for this purpose may include telephone companies that provide video programming directly to subscribers.

        The Company's wholly owned program services are not currently subject to the program access rules. The Company's flexibility to negotiate the most favorable terms available for carriage of these services and its ability to offer cable operators exclusive programming could be adversely affected if it were to become subject to the program access rules. Because the Company and Viacom Inc. are under common control by NAI, Viacom Inc.'s businesses could be attributable to the Company for purposes of the FCC's program

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access rules. (See Item 1A. "Risk Factors—The Businesses of the Company and Viacom Inc. Will Be Attributable to the Other Company for Certain Regulatory Purposes, Which May Limit Business Opportunities").

        National Broadband Plan.    In response to the FCC's March 2010 National Broadband Plan, which seeks to provide affordable broadband access throughout the U.S., Congress passed legislation in February 2012 authorizing the FCC to conduct voluntary auctions of spectrum utilized by broadcast television stations to provide additional spectrum for wireless broadband services. The television stations that continue their operations may have to change channels once the FCC "repacks" the broadcast spectrum dedicated to broadcast television use. The legislation provides that the FCC will assist television stations in retaining their current coverage areas, no stations will be forced into the VHF band and a fund will be established to reimburse broadcasters for reasonable relocation expenses relating to the spectrum-repacking. In September 2012, the FCC launched a rule-making proceeding to implement the auction legislation and auctions are expected to occur in 2015, followed by the repacking process.

Outdoor Americas

        The outdoor advertising industry is subject to extensive governmental regulation at the federal, state and local levels in the U.S. and to national, regional and local restrictions in foreign countries. These regulations can affect the operation of outdoor structures and include restrictions on the construction, repair, operation, upgrading, height, size and location of outdoor structures and, in some instances, the content of advertising copy that can be displayed on these structures. In addition, outdoor advertising is the subject of targeted state and municipal taxes and fees. These laws may affect competitive conditions in various markets in various ways. Such laws may reduce the Company's expansion opportunities, or may increase or reduce competitive pressure from others. No assurance can be given that existing or future laws or regulations and the enforcement thereof will not materially and adversely affect the Outdoor Americas business.

        Under U.S. law, principally the Highway Beautification Act of 1965 (the "HBA"), outdoor advertising is regulated on primary and interstate highways built with federal financial assistance. As a condition to federal highway assistance, the HBA requires states to restrict billboards on such highways to commercial and industrial areas, and imposes certain size, spacing and other requirements associated with the installation and operation of billboards. The HBA requires the development of state standards, promotes the expeditious removal of illegal signs and requires just compensation for takings on affected roadways. Outdoor Americas does not believe that the number of its billboards that may be subject to removal under these regulations is material.

        Municipal and county governments generally also have sign controls as part of their zoning laws and building codes. Some state and local government regulations prohibit construction of new billboards and some allow new construction only to replace existing structures, although most allow construction of billboards subject to restrictions on zoning, size, spacing, height and type of construction. In some cases, the construction of new billboards or the relocation or modification of existing billboards is prohibited. A number of foreign, state and local governments have implemented or initiated legislative billboard controls, including imposing taxes, fees and/or registration requirements, including in New York City, Los Angeles, Philadelphia, Toronto and Miami, in an effort to decrease or restrict the number of outdoor signs and/or to raise revenue. No assurance can be given that existing or future laws or regulations, and their enforcement, will not adversely affect Outdoor Americas' business. The Company contests laws and regulations that it believes unlawfully restrict its constitutional or other legal rights and may adversely impact the growth of its outdoor advertising business.

        U.S. law neither requires nor prohibits removal of existing lawful billboards, but it does require payment of compensation if a state or political subdivision compels the removal of a lawful billboard along a primary or interstate highway that was built with federal financial assistance. State governments have purchased and removed legal billboards for beautification objectives in the past using federal funding for

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transportation enhancement programs, and may do so in the future. State government authorities from time to time use the power of eminent domain to remove billboards. Thus far, Outdoor Americas has been able to obtain satisfactory compensation for its billboards purchased or removed as a result of this type of governmental action, although there is no assurance that this will continue to be the case in the future. Local governments do not generally purchase billboards for beautification, but some have attempted to force removal of legal but nonconforming billboards (billboards which conformed with applicable zoning regulations when built but which do not conform to current zoning regulations) after a period of years under a concept called amortization. Under this concept the governmental body asserts that just compensation is earned by continued operation of the billboard over time. Although there is some question as to the legality of amortization under federal and many state laws, amortization has been upheld in some instances. Outdoor Americas generally has been successful in negotiating settlements with municipalities for billboards required to be removed. Restrictive regulations also limit Outdoor Americas' ability to rebuild or replace nonconforming billboards.

        As the owner or operator of various real properties and facilities in outdoor advertising operations, the Company must comply with various U.S. federal, state and local and foreign environmental, health, safety and land use laws and regulations. The Company and its properties are subject to such laws and regulations relating to the use, storage, disposal, emission and release of hazardous and non-hazardous substances and employee health and safety, as well as zoning and other land use restrictions, which may affect, among other things, the type of display, such as digital, tri-vision or static, the hours of operation and illumination as well as methods and conditions of maintenance of facilities and advertising installation. Historically, the Company has not incurred significant expenditures to comply with these laws. However, future laws or a finding of a violation of or liability under existing laws could require the Company to make significant expenditures and otherwise limit or restrict its ability to use or operate some of its outdoor structures. Outdoor Americas intends to expand the deployment of digital billboards that display static digital advertising copy from various advertisers that change up to several times per minute. Some existing regulations in the U.S. and across some international jurisdictions restrict or prohibit these types of digital displays. However, since digital technology for changing static copy has only recently been developed and introduced into the market on a large scale, existing regulations that currently do not apply to digital technology by their terms could be revised to impose greater restrictions.

        Certain products, services and types of displays are or may be targeted by federal, state and local laws and regulations. For example, tobacco products have been banned from outdoor advertising. In addition, state and local governments continue to initiate proposals designed to limit outdoor advertising of alcohol. Legislation regulating alcohol-related advertising due to content-related restrictions could cause a reduction in Outdoor Americas' direct revenue from such advertisements and a simultaneous increase in the available space on the existing inventory of billboards in the outdoor advertising industry.

INTELLECTUAL PROPERTY

        The Company creates, owns, distributes and exploits under licenses intellectual property worldwide. It is the Company's practice to protect its products, including its television, radio and motion picture products, characters, publications and other original and acquired works and audiovisual works made for digital exploitation. The following logos, trade names, trademarks and related trademark families are among those strongly identified with the product lines they represent and are significant assets of the Company: CBS®, CBS Entertainment™, CBS News®, CBS Sports®, CBSSports.com®, CNET®, CBS Radio®, Showtime®, Showtime Anytime®, The Movie Channel®, Flix®, CBS Films®, CBS Outdoor®, CBS Audience Network™, TV.com™, Last.fm®, MetroLyrics®, CSI:®, NCIS™, Entertainment Tonight®, Star Trek®, Simon & Schuster®, CBS Sports Network™, CBS Interactive™ and all the call letters for the Company's television and radio stations. As a result, domestic and foreign laws protecting intellectual property rights are important to the Company and the Company actively enforces its intellectual property rights against infringements.

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EMPLOYEES

        At December 31, 2013, the Company employed approximately 19,490 full-time and part-time salaried employees and had approximately 5,210 additional project-based staff.

FINANCIAL INFORMATION ABOUT SEGMENTS AND FOREIGN AND DOMESTIC OPERATIONS

        Financial and other information by segment and relating to foreign and domestic operations for each of the last three years ending December 31 is set forth in Note 15 to the Consolidated Financial Statements.

AVAILABLE INFORMATION

        CBS Corp. makes available free of charge on or through the Investors section of its Website, www.cbscorporation.com, its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and any amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934. Such material is made available through the Company's Website as soon as reasonably practicable after such material is electronically filed with or furnished to the Securities and Exchange Commission. These documents are also available on the Securities and Exchange Commission's Website at www.sec.gov.

Item 1A.    Risk Factors.

CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS

        This document, including "Item 7. Management's Discussion and Analysis of Results of Operations and Financial Condition," and the documents incorporated by reference into this Annual Report on Form 10-K, contain both historical and forward-looking statements. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934. These forward-looking statements are not based on historical facts, but rather reflect the Company's current expectations concerning future results and events. These forward-looking statements generally can be identified by the use of statements that include phrases such as "believe," "expect," "anticipate," "intend," "plan," "foresee," "likely," "will" or other similar words or phrases. Similarly, statements that describe the Company's objectives, plans or goals are or may be forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors that are difficult to predict and which may cause the actual results, performance or achievements of the Company to be different from any future results, performance and achievements expressed or implied by these statements. More information about these risks, uncertainties and other factors is set forth below. Additional risks, uncertainties and other factors may be described in the Company's news releases and other filings made under the securities laws. There may be additional risks, uncertainties and factors that the Company does not currently view as material or that are not necessarily known. The forward-looking statements included in this document are only made as of the date of this document and the Company does not have any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances.

RISK FACTORS

        For an enterprise as large and complex as the Company, a wide range of factors could affect our business and financial results. The factors described below are considered to be the most significant. There may be other currently unknown or unpredictable economic, business, competitive, regulatory or other factors that could have material adverse effects on the Company's future results. Past financial performance may not be a reliable indicator of future performance and historical trends should not be used to anticipate results or trends in future periods. The following discussion of risk factors should be

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read in conjunction with "Item 7. Management's Discussion and Analysis of Results of Operations and Financial Condition" and the consolidated financial statements and related notes in "Item 8. Financial Statements and Supplementary Data" of this Form 10-K.

A Decline in Advertising Expenditures Could Cause the Company's Revenues and Operating Results to Decline Significantly in Any Given Period or in Specific Markets

        The Company derives substantial revenues from the sale of advertising on its broadcast and basic cable networks, television stations, radio stations, outdoor structures, syndicated programming, and online properties. A decline in the economic prospects of advertisers, the economy in general or the economy of any individual geographic market, particularly a major market such as Los Angeles, New York or Chicago, in which the Company owns and operates sizeable businesses, could alter current or prospective advertisers' spending priorities. Natural and other disasters, acts of terrorism, political uncertainty or hostilities could lead to a reduction in advertising expenditures as a result of disrupted programming and services, uninterrupted news coverage and economic uncertainty. Advertising expenditures may also be affected by increasing competition for the leisure time of audiences. In addition, advertising expenditures by companies in certain sectors of the economy, including the automotive, financial and pharmaceutical segments, represent a significant portion of the Company's advertising revenues. Any political, economic, social or technological change resulting in a reduction in these sectors' advertising expenditures may adversely affect the Company's revenue. Advertisers' willingness to purchase advertising from the Company may also be affected by a decline in audience ratings for the Company's programming, the inability of the Company to retain the rights to popular programming, increasing audience fragmentation caused by new program channels and the proliferation of new media formats, including the Internet and video-on-demand and the deployment of portable digital devices and new technologies, which allow consumers to live stream and time shift programming, make and store digital copies and skip or fast-forward through advertisements. The Company's revenues from outdoor advertising structures also depend on the Company's continued ability to obtain the right to use effective outdoor advertising space. Any reduction in advertising expenditures could have an adverse effect on the Company's revenues and results of operations.

The Company's Success and Profitability Are Dependent Upon Audience Acceptance of Its Content, Including Its Television and Radio Programs and Motion Pictures, Which Is Difficult to Predict

        Television, radio and motion picture content production and distribution are inherently risky businesses because the revenues derived from the production and distribution of a television or radio program or motion picture, and the licensing of rights to the associated intellectual property, depend primarily upon their acceptance by the public, which is difficult to predict. The commercial success of a television or radio program or motion picture also depends upon the quality and acceptance of other competing programs and motion pictures released into the marketplace at or near the same time, the availability of alternative forms of entertainment and leisure time activities, general economic conditions and other tangible and intangible factors, all of which are difficult to predict. Rating points are also factors that are weighed when determining the advertising rates that the Company receives. The use of new ratings technologies and measurements, and viewership on new platforms or devices that is not being measured, could have an impact on the Company's program ratings. For example, while C-3, a current television industry ratings system, measures live commercial viewing plus three days of DVR and video-on-demand playback, the growing viewership occurring on subsequent days of DVR and video-on-demand playback is excluded from C-3 ratings. Poor ratings can lead to a reduction in pricing and advertising spending. For example, there can be no assurance that any replacement programming on the Company's radio or television stations will generate the same level of revenues or profitability of previous programming. In addition, the success of the Company's cable networks and Simon & Schuster is similarly dependent on audience acceptance of its programming and publications, respectively. The theatrical success of a motion picture, based in large part upon audience acceptance, is a significant factor in determining the revenues it

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is likely to generate in home entertainment sales, licensing fees and other exploitation during the various other distribution windows. Consequently, low public acceptance of the Company's content, including its television and radio programs, motion pictures and publications, will have an adverse effect on the Company's results of operations. In addition, any decreased popularity of programming for which the Company has incurred significant commitments could have an adverse effect on its profitability. Programming and talent commitments of the Company, estimated to aggregate approximately $14.48 billion as of December 31, 2013 primarily included $11.23 billion for sports programming rights, $2.47 billion relating to television, radio, film production and licensing and $773 million for talent contracts with $5.70 billion of these amounts payable in and after 2019. A shortfall, now or in the future, in the expected popularity of the sports events for which the Company has acquired rights, or in the television and radio programming the Company expects to distribute, could lead to decreased profitability or losses for a significant period of time.

Failure by the Company to Obtain, Create and Retain the Rights Related to Popular Programming Could Adversely Affect the Company's Revenues

        The Company's revenue from its television, radio, cable networks and motion picture business is partially dependent on the Company's continued ability to anticipate and adapt to changes in consumer tastes and behavior on a timely basis. Moreover, the Company derives a portion of its revenues from the exploitation of its extensive library of television programming. Generally, a television series must have a network run of at least three or four years to be successfully sold in domestic syndication. If the content of its television programming library ceases to be widely accepted by audiences or is not continuously replenished with popular content, the Company's revenues could be adversely affected. The Company obtains a significant portion of its popular programming from third parties. For example, some of CBS Television Network's most widely viewed broadcasts, including golf's Masters Tournament, PGA Championship, NFL games, NCAA Division I Men's Basketball Tournament games, and series such as The Big Bang Theory and How I Met Your Mother, are made available based upon programming rights of varying duration that the Company has negotiated with third parties. In addition, Showtime Networks enters into commitments to acquire rights to certain programming for Showtime, The Movie Channel and Flix from motion picture producers and other suppliers for varying durations, and CBS Radio acquires the broadcast rights to syndicated shows and to various programs, such as sports events from third parties. CBS Films competes for compelling source material for and the talent necessary to produce motion pictures, as well as with other buyers for the acquisition of third-party produced motion pictures. Competition for popular programming that is licensed from third parties is intense, and the Company may be outbid by its competitors for the rights to new, popular programming or in connection with the renewal of popular programming currently licensed by the Company. The Company's failure to obtain or retain rights to popular content could adversely affect the Company's revenues.

The Company Must Respond to Rapid Changes in Technology, Content Creation, Services and Standards in Order to Remain Competitive

        Video, telecommunications, radio and data services technologies used in the entertainment industry are changing rapidly as are the digital distribution models for books. Advances in technologies or alternative methods of product delivery or storage, or certain changes in consumer behavior driven by these or other technologies and methods of delivery and storage, could have a negative effect on the Company's businesses. Examples of the foregoing include the convergence of television broadcasts and online delivery of programming to televisions, video-on-demand platforms, tablets, satellite radio, new video and electronic book formats, user-generated content sites, Internet and mobile distribution of video content via streaming and downloading, place- shifting of content from the home to portable devices on which content is viewable outside the home, and digital outdoor displays. For example, devices that allow users to view or listen to television or radio programs on a time-delayed basis; technologies that enable users to fast-forward or skip advertisements, such as DVRs, or increase the sharing of subscription content;

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systems that allow users to access copyrighted product of the Company over the Internet through antennas and other devices; and portable digital devices and systems that enable users to store or make portable copies of programming, may cause changes in consumer behavior that could affect the attractiveness of the Company's offerings to advertisers and adversely affect its revenues. Also, the growing uses of user-generated content sites and live and stored video streaming sites, which deliver unauthorized copies of copyrighted content, including those emanating from other countries in various languages, may adversely impact the Company's businesses. In addition, further increases in the use of digital devices which allow users to view or listen to content of their own choosing, in their own time and remote locations, while avoiding traditional commercial advertisements or subscription payments, could adversely affect the Company's radio and television broadcasting advertising and subscription revenues. Cable providers and DBS operators are developing new techniques that allow them to transmit more channels on their existing equipment to highly targeted audiences, reducing the cost of creating channels and potentially leading to the division of the television marketplace into more specialized niche audiences. More television options increase competition for viewers and competitors targeting programming to narrowly defined audiences may gain an advantage over the Company for television advertising and subscription revenues. Television manufacturers, cable providers and others are developing and offering technology to enable viewers to locate digital copies of programming from the Internet to view on television monitors or other devices, which could diminish viewership of the Company's programming. Generally, changing consumer behavior may impact the Company's traditional distribution methods, for example, by reducing viewership of its programming (including motion pictures), the demand for DVD and Blu-ray Disc product and/or the desire to see motion pictures in theaters, which could have an adverse impact on the Company's revenues and profitability. Also, the impact of technological changes on traditional distributors of video programming may adversely affect the Company's cable networks' ability to grow revenue. Anticipating and adapting to changes in technology on a timely basis and exploiting new sources of revenue from these changes will affect the Company's ability to continue to increase its revenue.

Piracy of the Company's Programming and Other Content, Including Digital Piracy, May Decrease Revenue Received from the Exploitation of the Company's Programming and Other Content and Adversely Affect Its Businesses and Profitability

        Piracy of programming (including motion pictures), books and other copyrighted material is prevalent in many parts of the world and is made easier by the availability of digital copies of content and technological advances allowing conversion of such programming and other content into digital formats, which facilitate the creation, transmission and sharing of high quality unauthorized copies of the Company's content. Recent technological advances, which facilitate the streaming of programming via the Internet to television screens and other devices, may increase piracy. The proliferation of unauthorized access to programming has an adverse effect on the Company's businesses and profitability because these unauthorized actions reduce the revenue that the Company potentially could receive from the legitimate sale and distribution of its products and services. In addition, if piracy were to increase, it would have an adverse effect on the Company's businesses and profitability. Also, while legal protections exist, piracy and technological tools with which to carry it out continue to escalate, evolve and present challenges for enforcement. Various litigations are pending regarding entities that stream the Company's broadcast content without obtaining the consent of or paying compensation to the Company, and the U.S. Supreme Court has granted certiorari to hear a case involving a challenge by major broadcasters to one such entity. Failure of legal protections to evolve and enable enhanced enforcement efforts to combat piracy could make it more difficult for the Company to adequately protect its intellectual property, which could negatively impact its value and further increase the Company's enforcement costs.

The Company's Operating Results Are Subject to Seasonal Variations and Other Factors

        The Company's business has experienced and is expected to continue to experience seasonality due to, among other things, seasonal advertising patterns and seasonal influences, on people's viewing, reading,

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attendance and listening habits. Typically, the Company's revenue from advertising increases in the fourth quarter, Simon & Schuster generates a substantial portion of its revenues in the fourth quarter, and license fees for television programming and CBS Films' revenue from motion pictures are dependent on the timing, mix, number and availability of the Company's television programming and motion pictures, as applicable, which may cause operating results to increase or decrease during a period and create non-comparable results relative to the corresponding period in the prior year. In addition, advertising revenues in even-numbered years benefit from advertising placed by candidates for political offices. The effects of such seasonality make it difficult to estimate future operating results based on the previous results of any specific quarter and may adversely affect operating results.

The Company's Businesses Operate in Highly Competitive Industries

        The Company competes with other media companies for high quality content and attractive outdoor advertising space to achieve large audiences and to generate advertising revenue. The Company also competes for distribution on various MVPD platforms. The Company's ability to attract audiences and advertisers and obtain favorable distribution depends in part on its ability to provide popular television programming and radio programming, motion pictures and books, as well as well-placed outdoor advertising faces. In addition, the consolidation of advertising agencies, distributors and television service providers has made competition for audiences, advertising revenue, and distribution more intense. In addition, consolidation among book retailers and the growth of on-line sales and electronic books sales have resulted in increased competition for limited physical shelf space for the Company's publications and for the attention of consumers on-line. Competition for audiences and advertising comes from: broadcast television stations and networks; cable television systems and networks; motion picture studios; the Internet; terrestrial and satellite radio and portable devices; outdoor advertisers; local, regional and national newspapers; direct mail; and other communications and advertising media that operate in these markets. Other television and radio stations or cable networks may change their formats or programming, a new station or new network may adopt a format to compete directly with the Company's stations or networks, or stations or networks might engage in aggressive promotional campaigns. In book publishing, competition among electronic and print book retailers could decrease the prices for new releases and the outlets available for book sales. Moreover, the growing use of self-publishing technologies by authors, increases competition and could result in decreased use of traditional publishing services. This competition could result in lower ratings and advertising and subscription and other revenues or increased promotional and other expenses and, consequently, lower earnings and cash flow for the Company. The Company cannot be assured that it will be able to compete successfully in the future against existing or potential competitors, or that competition will not have a material adverse effect on its business, financial condition or results of operations.

Economic Conditions May Adversely Affect the Company's Businesses and Customers

        The U.S. and other countries where the Company operates have experienced slowdowns and volatilities in their economies. A downturn could lead to lower consumer and business spending for the Company's products and services, particularly if customers, including advertisers, subscribers, licensees, retailers, theater operators and other consumers of the Company's content offerings and services, reduce demands for the Company's products and services. In addition, in unfavorable economic environments, the Company's customers may have difficulties obtaining capital at adequate or historical levels to finance their ongoing business and operations and may face insolvency, all of which could impair their ability to make timely payments and continue operations, including distribution of the Company's content. The Company is unable to predict the duration and severity of weakened economic conditions and such conditions and resultant effects could adversely impact the Company's businesses, operating results, and financial condition.

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Volatility and Weakness in Capital Markets May Adversely Affect Credit Availability and Related Financing Costs for the Company

        Bank and capital markets can experience periods of volatility and disruption. If the disruption in these markets is prolonged, the Company's ability to refinance, and the related cost of refinancing, some or all of its debt could be adversely affected. Although the Company can currently access the bank and capital markets, there is no assurance that such markets will continue to be a reliable source of financing for the Company. In addition, the Company's access to and cost of borrowing can be affected by the Company's short- and long-term debt ratings assigned by ratings agencies. These factors, including the tightening of credit markets, or a decrease in the Company's debt ratings, could adversely affect the Company's ability to obtain cost-effective financing.

Increased Programming and Content Costs May Adversely Affect the Company's Profits

        The Company produces and acquires programming (including motion pictures) and other content and incurs costs with respect to its content, including for all types of creative talent, including actors, authors, writers and producers, composers and publishers of music, as well as for marketing and distribution. An increase in any of these costs may lead to decreased profitability.

Changes in Communications Laws or Other Regulations May Have an Adverse Effect on the Company's Business

        The television and radio broadcasting and distribution industries in the U.S. are highly regulated by U.S. federal laws and regulations issued and administered by various federal agencies, including the FCC. The television and radio broadcasting industry is subject to extensive regulation by the FCC under the Communications Act. For example, the Company is required to obtain licenses from the FCC to operate its radio and television stations. The Company cannot be assured that the FCC will approve its future renewal applications or that the renewals will be for full terms or will not include conditions or qualifications. The non-renewal, or renewal with substantial conditions or modifications, of one or more of the Company's licenses could have a material adverse effect on the Company's revenues. The Company must also comply with extensive FCC regulations and policies in the ownership and operation of its television and radio stations and its television networks. FCC regulations prohibit the ownership of more than one of the top four networks, ABC, CBS, FOX and NBC, and limit the number of television and radio stations that a licensee can own in a market and the number of television stations that can be owned nationwide, which could restrict the Company's ability to consummate future transactions and in certain circumstances could require it to divest some television or radio stations. The U.S. Congress and the FCC currently have under consideration, and may in the future adopt, new laws, regulations, and policies regarding a wide variety of matters that could, directly or indirectly, affect the operation and ownership of the Company's radio and television properties. For example, from time to time, proposals have been advanced in the U.S. Congress and at the FCC to require radio and television broadcast stations to provide advertising time to political candidates for free or at a reduced charge. Any restrictions on political advertising may adversely affect the Company's advertising revenues. The FCC has initiated a proceeding to examine and potentially regulate more closely embedded advertising such as product placement and product integration. Enhanced restrictions affecting these means of delivering advertising messages may adversely affect the Company's advertising revenues. Changes to the media ownership and other FCC rules may affect the competitive landscape in ways that could increase the competition faced by the Company. Proposals have also been advanced from time to time before the U.S. Congress and the FCC to extend the program access rules (currently applicable only to those cable program services which also own or are owned by cable distribution systems) to all cable program services. The Company's ability to obtain the most favorable terms available for its content could be adversely affected should such an extension be enacted into law. In response to the FCC's March 2010 National Broadband Plan, which seeks to provide affordable broadband access throughout the U.S., Congress passed legislation in February 2012 authorizing the FCC to conduct voluntary auctions of spectrum utilized by broadcast television stations to

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provide additional spectrum for wireless broadband services. The television stations that continue their operations may have to change channels once the FCC "repacks" the broadcast spectrum dedicated to broadcast television use. Such auctions are expected to begin in 2015 followed by repacking, which could adversely impact the Company's broadcast coverage and related revenues. It is difficult to predict the timing or outcome of the FCC's actions or their effect, if any, on the Company's broadcasting properties. Legislation could be enacted, which could remove over-the-air broadcasters' existing exemption from payment of a performance royalty to record companies and performers of music which is broadcast on radio stations and could have an adverse impact on the cost of music programming for the Company. In addition, changes in or new interpretations of international laws and regulations governing competition and the Internet, including those affecting data privacy, may have an adverse impact on the Company's international businesses and Internet properties. The Company is unable to predict the effect that any such laws, regulations or policies may have on its operations.

Vigorous Enforcement or Enhancement of FCC Indecency and Other Program Content Rules Against the Broadcast and Cable Industries Could Have an Adverse Effect on the Company's Businesses and Results of Operations

        The FCC's rules prohibit the broadcast of obscene material at any time and indecent or profane material on television or radio broadcast stations between the hours of 6 a.m. and 10 p.m. Broadcasters risk violating the prohibition against broadcasting indecent material because of the vagueness of the FCC's indecency/profanity definition, coupled with the spontaneity of live programming. The FCC vigorously enforces its indecency rules against the broadcasting industry. The FCC has found on a number of occasions that the content of radio and television broadcasts has contained indecent material. In such instances, the FCC issued fines or advisory warnings to the offending licensees. Moreover, the FCC has in some instances imposed separate fines for each allegedly indecent "utterance," in contrast with its previous policy, which generally considered all indecent words or phrases within a given program as constituting a single violation. The fines for broadcasting indecent material per station are a maximum of $325,000 per utterance. If the FCC denied a license renewal or revoked the license for one of the Company's broadcast radio or television stations, the Company would lose its authority to operate the station. The determination of whether content is indecent is inherently subjective and, as such, it can be difficult to predict whether particular content could violate indecency standards. The difficulty in predicting whether individual programs, words or phrases may violate the FCC's indecency rules adds significant uncertainty to the Company's ability to comply with the rules. Violation of the indecency rules could lead to sanctions which may adversely affect the Company's businesses and results of operations. Some policymakers support the extension of the indecency rules that are applicable to over-the-air broadcasters to cover cable and satellite programming and/or attempts to increase enforcement of or otherwise expand existing laws and rules. If such an extension, attempt to increase enforcement or other expansion took place and were found to be constitutional, some of the Company's cable content could be subject to additional regulation and might not be able to attract the same subscription and viewership levels.

The Loss of Affiliation Agreements or Retransmission Agreements Could Materially Adversely Affect the Company's Results of Operations

        The CBS Television Network provides its affiliates with up to approximately 98 hours of regularly scheduled programming per week. In return, the CBS Television Network's affiliated stations broadcast network-inserted commercials during that programming. Loss of network affiliation agreements of the CBS Television Network could adversely affect the Company's results of operations by reducing the reach of the Company's programming and therefore its attractiveness to advertisers, and renewal of these affiliation agreements on less favorable terms may also adversely affect the Company's results of operations. The non-renewal or termination of retransmission agreements with MVPDs or continued distribution on less favorable terms, could also adversely affect the Company's revenues and its ability to distribute its network programming to a nationwide audience and affect the Company's ability to sell

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advertising, which could have a material adverse effect on the Company's results of operations. Showtime Networks, CBS Sports Network and Smithsonian Networks are also dependent upon the maintenance of affiliation agreements with MVPDs, and there can be no assurance that these agreements will be renewed in the future on terms acceptable to such programmers. The loss of one or more of these arrangements could reduce the distribution of Showtime Networks', CBS Sports Network's and Smithsonian Networks' program services and reduce revenues from subscriber fees and advertising, as applicable. Further, the loss of favorable packaging, positioning, pricing or other marketing opportunities with any distributor could reduce revenues from subscriber fees. Also, consolidation among MVPDs and increased vertical integration of such distributors into the cable or broadcast network business have provided more leverage to these distributors and could adversely affect the Company's ability to maintain or obtain distribution for its network programming or distribution and/or marketing of its subscription program services on favorable or commercially reasonable terms, or at all.

The Failure or Destruction of Satellites and Transmitter Facilities that the Company Depends Upon to Distribute Its Programming Could Materially Adversely Affect the Company's Businesses and Results of Operations

        The Company uses satellite systems to transmit its broadcast and cable networks to affiliates. The distribution facilities include uplinks, communications satellites and downlinks. Transmissions may be disrupted as a result of local disasters including extreme weather that impair on-ground uplinks or downlinks, or as a result of an impairment of a satellite. Currently, there are a limited number of communications satellites available for the transmission of programming. If a disruption occurs, failure to secure alternate distribution facilities in a timely manner could have a material adverse effect on the Company's businesses and results of operations. Each of the Company's television and radio stations and cable networks uses studio and transmitter facilities that are subject to damage or destruction. Failure to restore such facilities in a timely manner could have a material adverse effect on the Company's businesses and results of operations.

Breach of Security Measures Regarding Information Systems Could Disrupt Operations and Damage the Company's Reputation and Could Materially Adversely Affect the Company's Businesses and Results of Operations

        Network and information systems and other technologies are important to the Company's business activities. Despite the Company's security measures, network and information systems-related events, such as computer hackings, viruses, or other destructive or disruptive software, process breakdowns or malicious or other activities, and natural or other disasters could result in a disruption of the Company's services and operations or improper disclosure of personal data or confidential information, which could damage the Company's reputation and require the Company to expend resources to remedy any such breaches. The occurrence of any of such network or information systems-related events, security breaches or natural or other disasters could have a material adverse effect on the Company's business and results of operations.

The Company Could Suffer Losses Due to Asset Impairment Charges for Goodwill, Intangible Assets, FCC Licenses and Programming

        The Company will test goodwill and indefinite-lived intangible assets, including FCC licenses, for impairment during the fourth quarter of each year and between annual tests if events or circumstances require an interim impairment assessment. A downward revision in the estimated fair value of a reporting unit or intangible assets, including FCC licenses, could result in a non-cash impairment charge. Also, any significant shortfall, now or in the future, in the expected popularity of the programming for which the Company has acquired rights could lead to a downward revision in the fair value of such assets. Any such impairment charge for goodwill, intangible assets and/or programming could have a material adverse effect on the Company's reported net earnings.

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Dividends and Dividend Rates Cannot Be Guaranteed

        The Company's Board of Directors assesses relevant factors when considering the declaration of a dividend on the Company's common stock. The Company cannot guarantee that it will continue to declare dividends, including at the same or similar rates.

The Loss of Key Personnel, Including Talent, Could Disrupt the Management or Operations of the Company's Business and Adversely Affect Its Revenues

        The Company's business depends upon the continued efforts, abilities and expertise of its chief executive officer and other key employees and entertainment personalities. The Company believes that the unique combination of skills and experience possessed by its executive officers would be difficult to replace, and that the loss of its executive officers could have a material adverse effect on the Company, including the impairment of the Company's ability to execute its business strategy. While the Company does not maintain a written succession plan with respect to Chairman of the Board, in accordance with the Company's Corporate Governance Guidelines, designated independent committees of the CBS Board together periodically review succession planning for the position of Chairman and report to the non-management directors of the CBS Board. Because approximately 79.6% of the voting shares are controlled by Sumner Redstone there can be no assurance now or in the future that he or the successors to the voting control may not seek to effect succession of the Chairman; however, and in all cases, the Board will elect the next Chairman by a majority vote of the Board. Additionally, the Company employs or independently contracts with several entertainment personalities and authors with significant loyal audiences or readership. Entertainment personalities are sometimes significantly responsible for the ranking of a television or radio station and, therefore, the ability of the station to sell advertising, and an author's popularity can be significantly responsible for the success of a particular book. Cable Networks produces programming and CBS Films produces motion pictures with highly regarded directors, actors and other talent who are important to achieving audience endorsement of their content. There can be no assurance that these entertainment personalities, authors and talent will remain with or be drawn to the Company or will retain their current audiences or readership. If the Company fails to retain or attract these entertainment personalities, authors and talent or they lose their current audiences or readership, the Company's revenues could be adversely affected.

Fluctuations in Foreign Exchange Rates Could Have an Adverse Effect on the Company's Results of Operations

        Certain of the Company's revenues are earned and expenses are incurred in foreign currencies. The value of these currencies fluctuates relative to the U.S. dollar. As a result, the Company is exposed to exchange rate fluctuations, which could have an adverse effect on its results of operations.

Regulation of the Outdoor Advertising Industry Could Materially Adversely Affect the Company's Outdoor Americas Business

        The outdoor advertising industry is subject to extensive governmental regulation and enforcement at the federal, state and local levels in the U.S. and to national, regional and local restrictions in foreign countries. These regulations and enforcement actions can affect the operation and continuance of operations of advertising displays and include restrictions on the construction, operation, repair, upgrading, height, size, location and type, such as digital, tri-vision or static, of outdoor advertising structures and displays and, in some instances, the content of advertising copy that can be displayed on these structures. In addition, outdoor advertising is the subject of targeted state and municipal taxes and fees. Such laws may increase the Company's costs and reduce the Company's expansion opportunities or may increase competitive pressure from others. The Company cannot give any assurance that existing or future laws or regulations will not materially and adversely affect its outdoor business.

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The Company's Proposed IPO and Separation of its Outdoor Advertising Business and Plans to Convert such Business into a Real Estate Investment Trust Are Subject to Approvals and Changes in Legislation, Tax Rules and Market Conditions

        During 2013, the Company announced its intention to separate its Outdoor Americas business and, subject to receiving a ruling from the IRS, convert it into a REIT. CBS Outdoor Americas Inc., a subsidiary of the Company which holds the Outdoor Americas business, expects to sell up to 20% of its common stock through an 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 completion of the IPO. All of these actions are subject to customary approvals and risks, many of which are outside the Company's control, including changes in legislation, tax rules or market conditions, which could adversely impact timing, the ability to consummate or achieve the benefits of the transactions.

The Company's Liabilities Related to Discontinued Operations and Former Businesses Could Adversely Impact Its Financial Condition

        The Company has both recognized and potential liabilities and costs related to discontinued operations and former businesses, certain of which are unrelated to the media business, including leases, guarantees, environmental liabilities, liabilities related to the pensions and medical expenses of retirees, asbestos liabilities, contractual disputes and other pending and threatened litigation. The Company cannot be assured that its reserves are sufficient to cover these liabilities in their entirety or any one of these liabilities when it becomes due or at what point any of these liabilities may come due. Therefore, there can be no assurances that these liabilities will not have a material adverse effect on the Company's financial position, operating performance or cash flow.

The Company Could Be Adversely Affected by Strikes and Other Union Activity

        The Company and its suppliers engage the services of writers, directors, actors and other talent, trade employees and others who are subject to collective bargaining agreements. If the Company or its suppliers are unable to renew expiring collective bargaining agreements, it is possible that the affected unions or others could take action in the form of strikes or work stoppages. Such actions, higher costs in connection with these agreements or a significant labor dispute could adversely affect the Company's television, radio, cable networks, interactive and motion picture businesses by disrupting the Company's ability to provide scheduled services and programming or by causing delays in the production of the Company's television or radio programming, motion pictures or the Company's outdoor business by disrupting its ability to place advertising on outdoor faces. Depending on its duration, any lockout, strike or work stoppage could have an adverse effect on the Company's revenues, cash flows and/or operating income and/or the timing thereof.

Political and Economic Risks Associated with the Company's International Businesses Could Harm the Company's Financial Condition or Results of Operations

        The Company's businesses operate and have customers worldwide. Inherent risks of doing business in international markets include, among other risks, changes in the economic environment, export restrictions, exchange controls, tariffs and other trade barriers and longer payment cycles. The Company may incur substantial expense as a result of the imposition of new restrictions or changes in the existing economic environment in the regions where it does business. In addition, acts of terrorism or other hostilities, or other future financial, political, economic or other uncertainties, could lead to a reduction in advertising expenditures, which could materially adversely affect the Company's business, financial condition or results of operations.

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NAI, Through Its Voting Control of the Company, Is in a Position to Control Actions that Require Stockholder Approval

        NAI, through its direct and indirect ownership of the Company's Class A Common Stock, has voting control of the Company. Mr. Sumner M. Redstone, the controlling stockholder, chairman of the board of directors and chief executive officer of NAI, serves as Executive Chairman of the Company's Board of Directors, and Ms. Shari Redstone, the president and a director of NAI, serves as Vice Chair of the Company's Board of Directors. In addition, Mr. David R. Andelman is a director of NAI and serves as a director of the Company. NAI is in a position to control the outcome of corporate actions that require stockholder approval, including the election of directors and transactions involving a change of control. Other stockholders who may have different interests are unable to affect the outcome of the corporate actions of the Company for so long as NAI retains voting control.

Sales of Shares of Common Stock by NAI Could Adversely Affect the Stock Price

        NAI, through its direct and indirect ownership of the Company's Class A Common Stock, has voting control of the Company. Based on information received from NAI, shares of the Company's voting Class A common stock and non-voting Class B common stock owned by NAI Entertainment Holdings LLC ("NAI EH"), a wholly-owned subsidiary of NAI, are pledged to NAI EH's lenders. NAI holds more than 50% of the Company's voting Class A shares directly and these shares are not pledged. If NAI EH defaults on its obligations and the lenders foreclose on the collateral, the lenders or anyone to whom the lenders transfer the Company's shares could sell such shares or convert those shares of voting Class A Common Stock into shares of non-voting Class B Common Stock and sell such shares, which could adversely affect the Company's share price. Additionally, if the lenders foreclose on the pledged shares of voting Class A Common Stock, NAI will no longer directly or indirectly own those shares and such lenders or other transferees would have voting rights in the Company. In addition, there can be no assurance that NAI or NAI EH at some future time will not sell or pledge additional shares of the Company's stock, which could adversely affect the Company's share price.

Many Factors May Cause the Stock Price of the Company's Class A Common Stock and Class B Common Stock to Fluctuate

        The stock price of Class A Common Stock and Class B Common Stock may fluctuate significantly as a result of many factors. These factors, some or all of which are beyond the Company's control, include:

•

actual or anticipated fluctuations in the Company's operating results;

•

changes in expectations as to the Company's future financial performance or changes in financial estimates of securities analysts;

•

success of the Company's operating and growth strategies;

•

investor anticipation of strategic, technological or regulatory threats, whether or not warranted by actual events;

•

operating and stock price performance of other comparable companies; and

•

realization of any of the risks described in these risk factors.

In addition, the stock market has experienced volatility that often has been unrelated or disproportionate to the operating performance of particular companies. These broad market and industry fluctuations may adversely affect the trading prices of the Company's common stock, regardless of the Company's actual operating performance.

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The Businesses of the Company and Viacom Inc. Will Be Attributable to the Other Company for Certain Regulatory Purposes, Which May Limit Business Opportunities

        So long as the Company and Viacom Inc. are under common control, each company's businesses, as well as the businesses of any other commonly controlled company, will be attributable to the other company for purposes of certain rules and regulations of the FCC and certain rules regarding political campaign contributions in the U.S., among others potentially. The businesses of one company will continue to be attributable to the other company for certain FCC purposes even after the two companies cease to be commonly controlled, if the two companies share common officers, directors, or attributable stockholders. As a result, the businesses and conduct of Viacom Inc. may have the effect of limiting and affecting the activities, strategic business alternatives and business terms available to the Company, including limitations to which the Company contractually agreed in connection with the Company's separation of former Viacom Inc. ("Former Viacom") into two publicly traded entities, CBS Corporation and new Viacom Inc., which was completed on December 31, 2005 (the "Separation").

In Connection with the Separation, Each Company Will Rely on the Other Company's Performance Under Various Agreements Between the Companies

        In connection with the Separation, the Company and Viacom Inc. entered into various agreements, including the Separation Agreement, a tax matters agreement dated December 30, 2005, which is filed as an exhibit to this report, effective as of the Separation (the "Tax Matters Agreement") and certain related party arrangements pursuant to which the Company and Viacom Inc. will provide services and products to each other from and after the Separation. The Separation Agreement sets forth the allocation of assets, liabilities, rights and obligations of the Company and Viacom Inc. following the Separation, and includes indemnification obligations for such liabilities and obligations. In addition, pursuant to the Tax Matters Agreement, certain income tax liabilities and related responsibilities are allocated between, and indemnification obligations are assumed by, each of the Company and Viacom Inc. Each company will rely on the other to satisfy its performance and payment obligations under these agreements. Certain of the liabilities to be assumed or indemnified by the Company or Viacom Inc. under these agreements are legal or contractual liabilities of the other company. If Viacom Inc. were to breach or be unable to satisfy its material obligations under these agreements, including a failure to satisfy its indemnification obligations, the Company could suffer operational difficulties or significant losses.

Certain Members of Management, Directors and Stockholders May Face Actual or Potential Conflicts of Interest

        The management and directors of the Company may own both CBS Corp. common stock and Viacom Inc. common stock, and both the Company and Viacom Inc. are controlled by NAI. Mr. Redstone, the controlling stockholder, chairman of the board of directors and chief executive officer of NAI, serves as Executive Chairman of the Company's Board of Directors and executive chairman of Viacom Inc.'s board of directors. Ms. Redstone, the president and a director of NAI, serves as Vice Chair of the Board of Directors of each of the Company and Viacom Inc. Mr. David R. Andelman is a director of NAI and serves as a director of the Company. Mr. Frederic V. Salerno is a director of Viacom Inc. and serves as a director of the Company. This ownership overlap and these common directors could create, or appear to create, potential conflicts of interest when the Company's and Viacom Inc.'s management, directors and controlling stockholder face decisions that could have different implications for the Company and Viacom Inc. For example, potential conflicts of interest could arise in connection with the resolution of any dispute between the Company and Viacom Inc. regarding the terms of the agreements governing the Separation and the relationship between the Company and Viacom Inc. thereafter. These agreements include, among others, the Separation Agreement, the Tax Matters Agreement and any commercial agreements between the parties or their affiliates. On occasion, the Company and Viacom Inc. may compete with each other in various commercial enterprises. Potential conflicts of interest could also arise if the Company and Viacom Inc. enter into any commercial arrangements with each other in the future. Each

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of Mr. Redstone and Ms. Redstone may also face conflicts of interest with regard to the allocation of his or her time between the Company and Viacom Inc. CBS Corp.'s certificate of incorporation contains provisions related to corporate opportunities that may be of interest to both the Company and Viacom Inc. CBS Corp.'s certificate of incorporation provides that in the event that a director, officer or controlling stockholder of the Company who is also a director, officer or controlling stockholder of Viacom Inc. acquires knowledge of a potential corporate opportunity for both the Company and Viacom Inc., such director, officer or controlling stockholder may present such opportunity to the Company or Viacom Inc. or both, as such director, officer or controlling stockholder deems appropriate in his or her sole discretion, and that by doing so such person will have satisfied his or her fiduciary duties to the Company and its stockholders. In addition, CBS Corp.'s certificate of incorporation provides that the Company renounces any interest in any such opportunity presented to Viacom Inc. These provisions create the possibility that a corporate opportunity of one of such companies may be used for the benefit of the other company.

Item 1B.    Unresolved Staff Comments.

        Not applicable.

Item 2.    Properties.

        The Company maintains its world headquarters at 51 West 52nd Street, New York, New York, where it owns a building containing approximately 900,000 square feet of space, 831,000 square feet of which is office space. The Company occupies approximately 276,000 square feet of the office space and leases the balance to third parties. The Company owns the CBS Broadcast Center complex located on approximately 3.7 acres at 524 West 57th Street, New York, New York, which consists of approximately 860,000 square feet of office and studio space. The Company also owns two studio facilities in California: (a) the CBS Studio Center at 4024 Radford Avenue, Studio City, California, located on approximately 40 acres, and (b) CBS Television City at 7800 Beverly Boulevard, Los Angeles, California, located on approximately 25 acres. Showtime Networks leases approximately 200,000 square feet at 1633 Broadway, New York, New York under a lease which expires in 2026. Simon & Schuster leases approximately 290,000 square feet of office space at 1230 Avenue of the Americas, New York, New York, which lease runs to 2019. CBS Interactive leases approximately 280,000 square feet of space at 235 2nd Street, San Francisco, California under a lease which expires in 2022. The Company and its subsidiaries also own and lease office, studio and warehouse space, broadcast, antenna and satellite transmission facilities and outdoor advertising properties throughout the U.S., Canada and several other foreign countries for its businesses. The Company considers its properties adequate for its present needs.

Item 3.    Legal Proceedings.

        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

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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

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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.

        Filings include claims for individuals suffering from mesothelioma, a rare cancer, the risk of which is allegedly increased by exposure to asbestos; lung cancer, a cancer which may be caused by various factors, one of which is alleged to be asbestos exposure; other cancers, and conditions that are substantially less serious, including claims brought on behalf of individuals who are asymptomatic as to an allegedly asbestos-related disease. The predominant number of claims against the Company are non-cancer claims. In a substantial number of the pending claims, the plaintiff has not yet identified the claimed injury. 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

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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.

Item 4.    Mine Safety Disclosures.

        Not applicable.

EXECUTIVE OFFICERS OF THE COMPANY

        Set forth below is certain information concerning the executive officers of the Company as of February 11, 2014.

Name	Age		Title
Sumner M. Redstone		90	Executive Chairman of the Board of Directors and Founder
Leslie Moonves		64	President and Chief Executive Officer and Director
Anthony G. Ambrosio		53	Senior Executive Vice President, Chief Administrative Officer and Chief Human Resources Officer
Joseph R. Ianniello		46	Chief Operating Officer
Richard M. Jones		48	Senior Vice President and General Tax Counsel
Lawrence Liding		45	Senior Vice President, Controller and Chief Accounting Officer
Gil Schwartz		62	Senior Executive Vice President and Chief Communications Officer
Angeline C. Straka		68	Senior Vice President, Deputy General Counsel and Secretary
Lawrence P. Tu		59	Senior Executive Vice President and Chief Legal Officer

None of the executive officers of the Company is related to any other executive officer or director by blood, marriage or adoption except that Shari Redstone, Vice Chair of the Board of Directors of the Company, is the daughter of Sumner M. Redstone.

        Mr. Redstone is the Company's Founder and has been Executive Chairman of the Board of the Company since January 1, 2006. He was Chairman of the Board of Former Viacom from 1987 until January 1, 2006 and served as Chief Executive Officer of Former Viacom from 1996 until January 1, 2006. Mr. Redstone has also served as Chairman of the Board of NAI since 1986 and Chief Executive Officer of NAI since 1967. He served as President of NAI from 1967 through 1999. Mr. Redstone served as the first Chairman of the Board of the National Association of Theatre Owners and is currently a member of its Executive Committee. Mr. Redstone has lectured at a variety of universities, including Harvard Law School, Boston University School of Law and Brandeis University. Mr. Redstone graduated from Harvard University in 1944 and received a LL.B. from Harvard University School of Law in 1947. Upon graduation, Mr. Redstone served as Law Secretary with the United States Court of Appeals and then as a Special Assistant to the United States Attorney General. Mr. Redstone served in the Military Intelligence Division during World War II. While a student at Harvard, he was selected to join a special intelligence group whose mission was to break Japan's high-level military and diplomatic codes. Mr. Redstone received, among other honors, two commendations from the Military Intelligence Division in recognition of his service, contribution and devotion to duty. He is also a recipient of the Army Commendation Award. Mr. Redstone also serves as Executive Chairman of the Board of Directors and Founder of Viacom Inc.

        Mr. Moonves has been President and Chief Executive Officer and a Director of the Company since January 1, 2006. Previously, Mr. Moonves served as Co-President and Co-Chief Operating Officer of Former Viacom since June 2004. Prior to that, Mr. Moonves served as Chairman and Chief Executive Officer of CBS since 2003 and as its President and Chief Executive Officer since 1998. Mr. Moonves joined former CBS Corporation in 1995 as President, CBS Entertainment. Prior to that, Mr. Moonves was President of Warner Bros. Television since July 1993.

        Mr. Ambrosio has been Senior Executive Vice President, Chief Administrative Officer and Chief Human Resources Officer of the Company since June 2013. Prior to that, Mr. Ambrosio served as

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Executive Vice President, Human Resources and Administration of the Company since January 1, 2006. Previously, he served as Co-Executive Vice President, Human Resources of Former Viacom since September 2005 and as Senior Vice President, Human Resources and Administration of the CBS, Infinity and Viacom Outdoor businesses since 2000. Prior to that, Mr. Ambrosio served as Vice President, Corporate Human Resources of the former CBS Corporation from 1999 to 2000, as Vice President, Benefits of the former CBS Corporation from 1995 to November 1999 and as Director, Personnel of the former CBS Corporation in 1995. He joined the former CBS Corporation in 1985 and held various positions in the human resources area since that time.

        Mr. Ianniello has been Chief Operating Officer of the Company since June 2013. Prior to that, Mr. Ianniello served as Executive Vice President and Chief Financial Officer of the Company since August 2009. Previously, he served as Deputy Chief Financial Officer of the Company since November 2008, as Senior Vice President, Chief Development Officer and Treasurer of the Company since September 2007, as Senior Vice President, Finance and Treasurer of the Company since January 1, 2006, as Senior Vice President and Treasurer of Former Viacom since July 2005, as Vice President, Corporate Development of Former Viacom from 2000 to 2005.

        Mr. Jones has been Senior Vice President and General Tax Counsel of the Company since January 1, 2006 and for Former Viacom in December 2005. Previously, he served as Vice President of Tax, Assistant Treasurer and Tax Counsel for NBC Universal, Inc. since 2003. Prior to that, he spent 13 years with Ernst & Young in their media & entertainment and transaction advisory services practices. Mr. Jones also served honorably as a non-commissioned officer in the U.S. Army's 75th Ranger Regiment.

        Mr. Liding has been Senior Vice President, Controller and Chief Accounting Officer of the Company since October 2011. Previously, he served as Vice President, Deputy Controller of the Company since March 2010 and Vice President, Assistant Controller since January 1, 2006. Prior to that, Mr. Liding joined Former Viacom in 1995 and served as Vice President of Financial Reporting from 2002 through 2005.

        Mr. Schwartz has been Senior Executive Vice President and Chief Communications Officer of the Company since June 2013. Prior to that, he served as Executive Vice President and Chief Communications Officer of the Company since January 1, 2006. Previously, he was Executive Vice President of CBS Communications Group, which served the Company's broadcast and local television, syndication, radio and outdoor operations, among others, from 2004 until January 1, 2006. He was Senior Vice President, Communications of CBS from 2000 to 2004, and Senior Vice President, Communications of the former CBS Corporation from 1996 to 2000. Mr. Schwartz served as Vice President, Corporate Communications of Westinghouse Broadcasting from 1995 to 1996. Prior to that, Mr. Schwartz served as Vice President, Communications for Westinghouse Broadcasting's Group W Television Stations from 1989 to 1995. Mr. Schwartz joined Westinghouse Broadcasting in 1981.

        Ms. Straka has been Senior Vice President, Deputy General Counsel and Secretary of the Company since January 1, 2006. Prior to that, Ms. Straka served as Vice President and Associate General Counsel and Co-Head of the Corporate, Transactions and Securities practice group in the corporate law department of Former Viacom. Prior to joining the Former Viacom corporate law department in February 2001, Ms. Straka served as Senior Vice President, General Counsel and Secretary of Infinity Broadcasting Corporation, then a majority-owned public subsidiary of Former Viacom, from May 2000. Ms. Straka was Vice President, Deputy General Counsel and Secretary of the former CBS Corporation and its predecessor, Westinghouse Electric Corporation, since 1994 and up to the time of the May 2000 merger of Former Viacom and the former CBS Corporation.

        Mr. Tu has been Senior Executive Vice President and Chief Legal Officer of the Company since January 1, 2014. Previously, Mr. Tu served as Senior Vice President, General Counsel and Secretary of Dell Inc. since July 2004. Prior to that, Mr. Tu served as Executive Vice President and General Counsel of NBC Universal since 2001. He was previously a partner with the law firm, O'Melveny & Myers LLP, and also served five years as managing partner of the firm's Hong Kong office. Mr. Tu's prior experience also includes serving as General Counsel Asia-Pacific for Goldman Sachs, attorney for the U.S. State Department, and law clerk for U.S. Supreme Court Justice Thurgood Marshall.

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Part II

Item 5.    Market for CBS Corporation's Common Equity, Related Stockholder Matters and Purchases of Equity Securities.

        CBS Corporation (the "Company" or "CBS Corp.") voting Class A Common Stock and CBS Corporation non-voting Class B Common Stock are listed and traded on the New York Stock Exchange ("NYSE") under the symbols "CBS.A" and "CBS", respectively.

        The following table sets forth, for the calendar periods indicated, the per share range of high and low sales prices for CBS Corporation's Class A and Class B Common Stock, as reported on the NYSE.

	Voting Class A Common Stock				Non-Voting Class B Common Stock
	High		Low		High		Low
2013
1st quarter	$	47.30	$	37.48	$	47.42	$	37.43
2nd quarter	$	52.34	$	43.84	$	52.46	$	43.77
3rd quarter	$	57.14	$	48.68	$	57.47	$	48.45
4th quarter	$	64.00	$	53.15	$	64.06	$	53.01
2012
1st quarter	$	34.26	$	27.82	$	33.94	$	27.18
2nd quarter	$	35.56	$	30.49	$	35.00	$	29.81
3rd quarter	$	38.46	$	30.55	$	38.32	$	29.85
4th quarter	$	38.02	$	32.39	$	38.10	$	31.84

        On January 29, 2014, the Company announced a quarterly cash dividend of $.12 per share on its Class A and Class B Common Stock, payable on April 1, 2014. The Company declared a quarterly cash dividend on its Class A and Class B Common Stock during each of the four quarters of 2013 and 2012, resulting in total annual dividends of $295 million for 2013 and $287 million for 2012. CBS Corp. currently expects to continue to pay a regular cash dividend to its stockholders.

        On November 4, 2010, the Company announced that its Board of Directors approved a $1.5 billion share repurchase program. The Company subsequently announced that its Board of Directors approved increases to this share repurchase program of $1.5 billion on November 3, 2011, $1.7 billion on July 26, 2012 and $5.1 billion on July 25, 2013. Below is a summary of CBS Corp.'s purchases of its Class B Common Stock during the three months ended December 31, 2013 under this publicly announced share repurchase program.

(in millions, except per share amounts)	Total Number of Shares Purchased		Average Price Per Share		Shares Purchased as Part of Publicly Announced Programs		Remaining Authorization
October 1, 2013 – October 31, 2013		1.7	$	57.33		1.7	$	5,694
November 1, 2013 – November 30, 2013		1.5	$	59.10		1.5	$	5,607
December 1, 2013 – December 31, 2013		2.9	$	61.24		2.9	$	5,431
Total		6.1	$	59.60		6.1	$	5,431

        As of February 11, 2014, there were approximately 1,764 record holders of CBS Corp. Class A Common Stock and approximately 25,463 record holders of CBS Corp. Class B Common Stock.

II-1

        Information required by this item is also contained in the CBS Corp. Proxy Statement for the Company's 2014 Annual Meeting of Stockholders under the heading "Equity Compensation Plan Information," which information is incorporated herein by reference.

Performance Graph

        The following graph compares the cumulative total stockholder return on CBS Corp. Class A and Class B Common Stock with the cumulative total return on the companies listed in the Standard & Poor's 500 Stock Index ("S&P 500") and a Peer Group of companies identified below.

        The performance graph assumes $100 invested on December 31, 2008 in each of the Class A and Class B Common Stock of CBS Corp., the S&P 500 and the Peer Group identified below including reinvestment of dividends, through the calendar year ended December 31, 2013.

Total Cumulative Stockholder Return
For Five-Year Period Ending December 31, 2013

December 31,	2008		2009		2010		2011		2012		2013
CBS Corp. Class A Common Stock	$	100	$	176	$	241	$	356	$	494	$	836
CBS Corp. Class B Common Stock	$	100	$	177	$	243	$	351	$	498	$	842
S&P 500	$	100	$	126	$	146	$	149	$	172	$	228
Peer Group (a)	$	100	$	140	$	159	$	172	$	234	$	355

(a)

The Peer Group consists of the following companies: The Walt Disney Company, Twenty-First Century Fox, Inc. (formerly known as News Corporation), Time Warner Inc., Cumulus Media Inc. and Clear Channel Outdoor Holdings, Inc.

II-2

Item 6.    Selected Financial Data.

CBS CORPORATION AND SUBSIDIARIES
(In millions, except per share amounts)

	Year Ended December 31, (a)
	2013		2012			2011			2010			2009 (b)
Revenues	$	15,284	$	14,089		$	13,637		$	13,466		$	12,405
Operating income	$	3,259	$	2,983		$	2,619		$	1,929		$	1,156
Net earnings from continuing operations	$	1,873	$	1,634		$	1,391		$	822		$	343
Net earnings (loss) from discontinued operations, net of tax	$	6	$	(60	)	$	(86	)	$	(98	)	$	(116	)
Net earnings	$	1,879	$	1,574		$	1,305		$	724		$	227
Basic net earnings (loss) per common share:
Net earnings from continuing operations	$	3.08	$	2.55		$	2.09		$	1.21		$	.51
Net earnings (loss) from discontinued operations	$	.01	$	(.09	)	$	(.13	)	$	(.14	)	$	(.17	)
Net earnings	$	3.09	$	2.45		$	1.97		$	1.07		$	.34
Diluted net earnings (loss) per common share:
Net earnings from continuing operations	$	3.00	$	2.48		$	2.04		$	1.18		$	.50
Net earnings (loss) from discontinued operations	$	.01	$	(.09	)	$	(.13	)	$	(.14	)	$	(.17	)
Net earnings	$	3.01	$	2.39		$	1.92		$	1.04		$	.33
Dividends per common share	$	..48	$	..44		$	..35		$	..20		$	..20
At Year End:
Total assets:
Continuing operations	$	26,269	$	25,988		$	25,695		$	25,614		$	26,350
Discontinued operations		118		478			525			550			618
Total assets	$	26,387	$	26,466		$	26,220		$	26,164		$	26,968
Total debt:
Continuing operations	$	6,436	$	5,922		$	5,982		$	6,000		$	6,997
Discontinued operations		13		13			21			21			21
Total debt	$	6,449	$	5,935		$	6,003		$	6,021		$	7,018
Total Stockholders' Equity	$	9,966	$	10,213		$	9,908		$	9,821		$	9,019

(a)

On September 30, 2013, CBS Corporation (the "Company" or "CBS Corp.") completed the sale of its outdoor advertising business in Europe, which included an interest in an outdoor business in Asia ("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.

(b)

In 2009, the Company recorded noncash impairment charges of $210 million ($131 million, net of tax), or $.19 per diluted share, to reduce the carrying value of FCC licenses in certain radio markets and to reduce the carrying value of the allocated goodwill in connection with the sale of certain radio stations.

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Item 7.    Management's Discussion and Analysis of Results of Operations and Financial Condition.
(Tabular dollars in millions, except per share amounts)

        Management's discussion and analysis of the results of operations and financial condition of CBS Corporation (together with its consolidated subsidiaries, unless the context otherwise requires, the "Company" or "CBS Corp.") should be read in conjunction with the consolidated financial statements and related notes. Descriptions of all documents incorporated by reference herein or included as exhibits hereto are qualified in their entirety by reference to the full text of such documents so incorporated or included. Please see Item 1A. "Risk Factors" in Part I of this report for the Cautionary Statement Concerning Forward-Looking Statements.

Overview

        The Company operates businesses which span the media and entertainment industries, including the CBS Television Network, cable program services, television content production and distribution, motion pictures, consumer publishing, television and radio stations, interactive media, and outdoor advertising. The Company's principal strategy is to create and acquire content that is widely accepted by audiences and generate both advertising and non-advertising revenues from the distribution of this content on multiple media platforms and to various geographic locations. The Company also continues to pursue opportunities to grow its revenue streams, including licensing its content for exhibition on digital and other platforms; expanding the distribution of its content internationally; securing compensation from multichannel video programming distributors ("MVPDs") and television stations affiliated with the CBS Television Network; and increasingly monetizing content viewership and ratings as industry measurements evolve to reflect changing viewership habits. The Company's continued ability to capitalize on these and other emerging opportunities will provide it with incremental advertising and non-advertising revenues and serves to de-risk and diversify the Company's business model.

        For 2013, the Company reported its highest results across all key financial metrics, including revenues, operating income and diluted earnings per share ("EPS") from continuing operations, since becoming a separate publicly traded company in January 2006. Diluted EPS from continuing operations of $3.00 increased $.52, or 21%, from $2.48 for the same prior-year period, principally reflecting 8% higher revenues, 9% higher operating income and lower weighted average shares outstanding due to the Company's ongoing share repurchases. The revenue growth reflects increases across all of the Company's revenue streams. Advertising revenues increased 4%, principally driven by growth at the CBS Television Network, including the benefit from the 2013 broadcast of Super Bowl XLVII. This growth was partially offset by a decline at Local Broadcasting resulting from lower political advertising sales. Content licensing and distribution revenues increased 15%, led by growth from domestic and international licensing of television and cable programming for digital streaming and syndication. Affiliate and subscription fee revenues increased 16%, reflecting growth from cable affiliate fees, retransmission revenues, fees received from the CBS Television Network's affiliated television stations, as well as the benefit of Showtime Networks' distribution of two Floyd Mayweather pay-per-view boxing events. Operating income growth was driven by the increase in revenues which was partially offset by higher sports programming costs and increased investment in television content.

        For 2014, the Company expects to benefit from continued growth in revenues received from MVPDs and television stations affiliated with the CBS Television Network as well as incremental political advertising sales associated with mid-term elections. Advertising revenue comparisons in 2014 will be negatively impacted by the Super Bowl broadcast on the CBS Television Network in the first quarter of 2013 as well as the broadcast of fewer NCAA Division I Men's Basketball Championship ("NCAA Tournament") games on the CBS Television Network in 2014. The Company's overall financial performance will be impacted by many other factors, including, the health of the economy and audience acceptance of the Company's programming.

        During 2013, the Company returned $2.50 billion to shareholders through repurchases of its stock and payment of dividends. The Company repurchased 45.8 million shares of its Class B Common stock during 2013 at an average price of $48.03 per share. For 2014, the Company expects to continue to return value to shareholders through share repurchases and dividends.

II-4

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

        The Company generated operating cash flow from continuing operations of $2.04 billion in 2013 and $1.82 billion in 2012. Included in operating cash flows are contributions of $150 million in 2013 and $200 million in 2012 to pre-fund the Company's qualified pension plans. Free cash flow for 2013 of $1.77 billion increased $209 million compared to $1.57 billion for 2012. Free cash flow is a non-GAAP financial measure. See "Reconciliation of Non-GAAP Financial Information" on pages II-12 and II-13 for a reconciliation of net cash flow provided by (used for) operating activities, the most directly comparable financial measure in accordance with accounting principles generally accepted in the United States ("GAAP"), to free cash flow.

        During 2013, the Company completed the sale of Outdoor Europe for $225 million and 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") ("Outdoor Americas Initiatives"). 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.

        During January 2014, in connection with the Outdoor Americas Initiatives, 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. The debt proceeds will primarily be used by the Company to repurchase shares of CBS Corp. Class B Common Stock through a $1.5 billion accelerated share repurchase ("ASR") transaction, with $50 million retained by Outdoor Americas for its corporate purposes and ongoing cash needs.

CBS Corp. operates in the following five segments:

ENTERTAINMENT: The Entertainment segment consists of the CBS Television Network, CBS Television Studios, CBS Global Distribution Group, CBS Films and CBS Interactive. Entertainment revenues are generated primarily from advertising sales, the licensing and distribution of its content, and affiliate and subscription fees. The Entertainment segment contributed 57% to consolidated revenues in 2013 and 55% to consolidated revenues in each of 2012 and 2011, and 49%, 46% and 47% to consolidated operating income in 2013, 2012 and 2011, respectively.

CABLE NETWORKS: The Cable Networks segment consists of Showtime Networks, CBS Sports Network and Smithsonian Networks. Cable Networks revenues are generated primarily from affiliate fees, and the licensing and distribution of its content. The Cable Networks segment contributed 14%, 13% and 12% to consolidated revenues in 2013, 2012 and 2011, respectively, and 27% to consolidated operating income in 2013 and 26% to consolidated operating income in each of 2012 and 2011.

PUBLISHING: The Publishing segment consists of Simon & Schuster's consumer book publishing business with imprints such as Simon & Schuster, Pocket Books, Scribner and Free Press. Publishing generates revenues from the distribution of consumer books in print, digital and audio formats. The Publishing segment contributed 5% to consolidated revenues in 2013 and 6% to consolidated revenues in each of 2012 and 2011, and 3% to consolidated operating income in each of 2013, 2012 and 2011.

LOCAL BROADCASTING: The Local Broadcasting segment consists of CBS Television Stations and CBS Radio, with revenues generated primarily from advertising sales. The Local Broadcasting segment contributed 18% to consolidated revenues in 2013 and 20% to consolidated revenues in each of 2012 and 2011, and 25%, 28% and 29% to consolidated operating income in 2013, 2012 and 2011, respectively.

II-5

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

OUTDOOR AMERICAS: The Outdoor Americas segment generates revenues primarily from providing advertising space on various structures in the United States, Canada and Latin America, including billboards, transit shelters and benches, buses, rail systems (both in-car and structures on station platforms and terminals), mall kiosks, stadium signage, and in retail stores. The Outdoor Americas segment contributed 9% to consolidated revenues in each of 2013, 2012 and 2011, and 7% to consolidated operating income in each of 2013 and 2012, and 8% to consolidated operating income in 2011.

Consolidated Results of Operations—2013 vs. 2012 and 2012 vs. 2011

Revenues

        The following tables present the Company's consolidated revenues by type for each of the years ended December 31, 2013, 2012 and 2011.

Revenues by Type Year Ended December 31,	2013		2012		Increase/(Decrease) 2013 vs. 2012				2011		Increase/(Decrease) 2012 vs. 2011
Advertising	$	8,803	$	8,459	$	344	4	%	$	8,399	$	60	1	%
Content licensing and distribution		3,997		3,468		529	15			3,236		232	7
Affiliate and subscription fees		2,221		1,921		300	16			1,762		159	9
Other		263		241		22	9			240		1	—
Total Revenues	$	15,284	$	14,089	$	1,195	8	%	$	13,637	$	452	3	%

	Year Ended December 31,
Percentage of Revenues by Type	2013			2012			2011
Advertising		58	%		60	%		61	%
Content licensing and distribution		26			24			24
Affiliate and subscription fees		14			14			13
Other		2			2			2
Total		100	%		100	%		100	%

        Advertising sales increased 4% to $8.80 billion in 2013 from $8.46 billion in 2012. This growth was principally driven by a 10% increase at the CBS Television Network, reflecting higher revenues from sports, including the 2013 broadcast of the Super Bowl, which is broadcast on the CBS Television Network once every three years, as well as increases in primetime. Advertising revenue growth also reflects an 18% increase at CBS Interactive. These increases were partially offset by a decline in Local Broadcasting advertising of 4%, reflecting lower political advertising revenues.

        In 2012, advertising sales increased 1% to $8.46 billion from $8.40 billion in 2011 reflecting growth at Local Broadcasting resulting from increased political advertising spending associated with the U.S. presidential election. Network advertising revenues increased slightly reflecting higher pricing, partially offset by lower ratings during the second half of 2012.

        In 2014, local advertising revenues are expected to benefit from increased political advertising spending for midterm elections. For national advertising, revenues in 2014 will benefit from upfront pricing increases for the 2013/2014 television broadcast season. (See pages I-2 and I-3 for a description of advertising sales in the upfront and scatter markets). In addition, 2014 advertising revenue comparisons will be negatively impacted by the broadcast of the Super Bowl on the CBS Television Network in the first

II-6

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

quarter of 2013 as well as the broadcast of fewer NCAA Tournament games on the CBS Television Network in 2014. In 2014, two regional final games and the national semifinals of the NCAA Tournament, which were previously broadcast by CBS, will be broadcast by Turner Broadcasting System, Inc. ("Turner"). Overall advertising revenues will also be impacted by ratings for the Company's programming and market conditions, including demand in the scatter advertising market.

        Content licensing and distribution revenues are principally comprised of fees from the licensing of internally produced television programming to multiple media platforms and in various geographic locations; fees from the distribution of third party programming; and revenues from the publishing and distribution of consumer books. For 2013, content licensing and distribution revenues increased 15% to $4.00 billion from $3.47 billion in 2012 and for 2012, content licensing and distribution revenues increased 7% from $3.24 billion in 2011. These increases reflected growth from domestic and international licensing of programming for syndication and digital streaming. For 2013, revenue contributions from significant domestic syndication availabilities included the first-cycle sales of NCIS: Los Angeles and The Good Wife. (See page I-3 for more information about television syndication cycles).

        During 2014, content licensing and distribution revenues are expected to benefit from the first-cycle domestic syndication availabilities of Hawaii Five-0 and Blue Bloods; however, revenue comparisons to 2013 may be impacted by fluctuations resulting from the timing of the availability of television series for multiple year licensing agreements, as television license fee revenues are recognized at the beginning of the license period in which programs are made available for exhibition.

        Affiliate and subscription fees are principally comprised of revenues received from MVPDs for carriage of the Company's cable networks, as well as for authorizing the MVPDs' carriage of the Company's owned television stations ("retransmission fees"); fees received from television stations affiliated with the CBS Television Network (known as "network affiliation fees" or "reverse compensation"); and subscriber fees for online content. For 2013, affiliate and subscription fees increased 16% to $2.22 billion from $1.92 billion in 2012 and for 2012, affiliate and subscription fees increased 9% from $1.76 billion in 2011. These increases reflected growth in retransmission revenues and network affiliation fees of 39% for 2013 and 42% for 2012; as well as increases in Cable Networks affiliate fees. The increase in Cable Networks affiliate fees reflected growth in subscriptions and rate increases at Showtime Networks, CBS Sports Network and Smithsonian Networks. For 2013, the increase was also driven by revenues from Showtime Networks' distribution of two Floyd Mayweather pay-per-view boxing events. The Company expects continued growth in retransmission revenues, network affiliation fees and cable affiliate fees in 2014, however, quarterly comparisons will fluctuate based on the timing of pay-per-view boxing events.

        Other revenues, which include ancillary fees for Entertainment, Cable Networks, Local Broadcasting and Outdoor Americas operations, increased 9% to $263 million in 2013 from $241 million in 2012, principally reflecting higher ancillary digital revenues. For 2012, other revenues of $241 million remained relatively flat compared to $240 million in 2011.

II-7

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

International Revenues

        International revenues primarily consist of television licensing revenues, as well as outdoor advertising revenues generated in Canada, Mexico and South America. The Company generated approximately 13% of its total revenues from international regions in 2013 and 12% in each of 2012 and 2011.

Year Ended December 31,	2013		% of International			2012		% of International			2011		% of International
United Kingdom	$	359		18	%	$	245		14	%	$	202		13	%
Other Europe		607		31			498		29			480		30
Canada		355		18			359		21			371		23
Asia		225		11			198		11			151		10
Other		445		22			431		25			378		24
Total International Revenues	$	1,991		100	%	$	1,731		100	%	$	1,582		100	%

Operating Expenses

        The table below presents the Company's consolidated operating expenses by type for each of the years ended December 31, 2013, 2012 and 2011.

Operating Expenses by Type Year Ended December 31,	2013		2012		Increase/(Decrease) 2013 vs. 2012					2011		Increase/(Decrease) 2012 vs. 2011
Programming	$	3,047	$	2,621	$	426		16	%	$	2,563	$	58		2	%
Production		2,491		2,149		342		16			2,096		53		3
Billboard, transit and other occupancy		643		648		(5	)	(1	)		637		11		2
Participation, distribution and royalty		1,112		1,004		108		11			1,065		(61	)	(6	)
Other		1,520		1,545		(25	)	(2	)		1,521		24		2
Total Operating Expenses	$	8,813	$	7,967	$	846		11	%	$	7,882	$	85		1	%

        Programming expenses represented 35% of total operating expenses for 2013 and 33% for each of the years 2012 and 2011, and reflect the amortization of acquired rights of programs exhibited on the broadcast and cable networks, and television and radio stations. Programming expenses increased 16% to $3.05 billion in 2013 from $2.62 billion in 2012 primarily reflecting higher sports programming costs associated with the CBS Television Network's 2013 broadcast of the Super Bowl and Showtime Networks' distribution of two pay-per-view boxing events, as well as higher investment in acquired television programming. For 2012, programming expenses increased 2% to $2.62 billion from $2.56 billion in 2011 primarily driven by higher investment in acquired television programming.

        Sports programming expenses in the first quarter of 2014 are expected to be lower compared to the first quarter of 2013 which included costs associated with the Super Bowl broadcast on the CBS Television Network. In addition, during the first half of 2014, sports programming costs will be lower due to the broadcast of fewer NCAA Tournament games on CBS. For the full year 2014, these decreases will be partially offset by cost increases beginning in the third quarter of 2014 associated with the Company's new agreement with the National Football League ("NFL") as well as the addition of a Thursday night NFL game on CBS for eight weeks.

II-8

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

        Production expenses represented 28% of total operating expenses for 2013 and 27% for each of the years 2012 and 2011, and reflect the amortization of direct costs of internally developed television and theatrical film content, as well as television and radio costs, including on-air talent and other production costs. Production expenses increased 16% to $2.49 billion in 2013 from $2.15 billion in 2012 primarily driven by increased revenues from the first-cycle domestic availabilities of NCIS: Los Angeles and The Good Wife, as well as higher investment in internally developed television programming. For 2012, production expenses increased 3% to $2.15 billion from $2.10 billion in 2011 primarily driven by higher amortization associated with increased revenues from television licensing arrangements.

        Billboard, transit and other occupancy expenses represented 7% of total operating expenses for 2013 and 8% for each of the years 2012 and 2011, and reflect lease and franchise costs associated with billboards, transit and other outdoor advertising displays; rent expense on production facilities; and other occupancy costs. For 2013, billboard, transit and other occupancy expenses decreased 1% to $643 million from $648 million in 2012, principally due to lower transit costs associated with the renewal of a transit contract at more favorable terms and the impact from a billboard tax imposed on the outdoor advertising industry in Toronto, which included a one-time retroactive payment in 2012. These decreases were partially offset by higher contingent rent expenses associated with the increase in outdoor advertising revenues. For 2012, billboard, transit and other occupancy expenses increased 2% to $648 million from $637 million in 2011, principally due to the aforementioned impact of the Toronto billboard tax, partially offset by lower occupancy expenses from the impact of cost-savings initiatives.

        Participation, distribution and royalty costs, which represented 13% of total operating expenses in each of the years 2013 and 2012, and 14% in 2011, primarily include participation and residual expenses for television programming, royalty costs for Publishing content and other distribution expenses incurred with respect to television and feature film content, such as print and advertising. Participation, distribution and royalty costs increased 11% to $1.11 billion in 2013 from $1.00 billion in 2012, principally due to higher participations associated with higher revenues from the licensing of television programming. For 2012, participation, distribution and royalty costs decreased 6% to $1.00 billion from $1.07 billion in 2011, principally due to lower participations associated with the mix of titles licensed for syndication.

        Other operating expenses, which represented 17% of total operating expenses in 2013 and 19% for each of the years 2012 and 2011, primarily include compensation and costs associated with book sales, including printing and warehousing. For 2013, other operating expenses decreased 2% to $1.52 billion from $1.55 billion in 2012. For 2012, other operating expenses increased 2% to $1.55 billion from $1.52 billion in 2011 reflecting higher employee-related costs mainly to support growth in digital businesses.

Selling, General and Administrative Expenses

        Selling, general and administrative ("SG&A") expenses, which include expenses incurred for selling and marketing costs, occupancy and back office support, represented 18% of revenues for 2013, and 19% for each of the years 2012 and 2011. For 2013, SG&A expenses increased $101 million, or 4%, to $2.74 billion from $2.63 billion in 2012 reflecting higher employee-related costs, mainly associated with $76 million higher stock-based compensation primarily from the increase in the Company's stock price; increased selling expenses associated with higher revenues; and professional fees related to the Company's Outdoor Americas Initiatives. These increases were partially offset by a 2012 charge related to a Publishing legal settlement and a gain from the sale of outdoor advertising assets.

II-9

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

        For 2012, SG&A expenses increased $36 million, or 1%, to $2.63 billion from $2.60 billion in 2011 principally due to a charge related to a Publishing legal settlement, and higher advertising and promotion expenses.

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 December 31, 2012		2013 Charges		2013 Payments			Balance at December 31, 2013
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 December 31, 2011		2012 Charges		2012 Payments			Balance at December 31, 2012
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

Impairment Charges

        In 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.

Depreciation and Amortization

        Depreciation and amortization decreased $18 million, or 4%, to $457 million for 2013 from $475 million for 2012, principally reflecting lower depreciation associated with declining capital expenditure levels in recent years and lower amortization resulting from certain intangible assets becoming fully amortized. For 2012, depreciation and amortization decreased $20 million, or 4%, to $475 million from $495 million for 2011, primarily reflecting lower amortization for leasehold agreements.

II-10

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

Interest Expense

        Interest expense decreased $26 million, or 6%, to $376 million for 2013 from $402 million for 2012 and for 2012, interest expense decreased $33 million, or 8% from $435 million for 2011, in both cases driven by the Company's debt refinancing during 2012. The Company had $5.96 billion of long term debt outstanding at December 31, 2013 and $5.92 billion at December 31, 2012, each at a weighted average interest rate of 6.0%. At December 31, 2013, the Company also had $475 million of commercial paper borrowings outstanding at a weighted average interest rate of 0.3%.

        In January 2014, in connection with the Outdoor Americas Initiatives, Outdoor Americas borrowed $1.60 billion through an $800 million variable-rate Term Loan and the issuance of $800 million of fixed-rate senior notes. The debt is expected to result in annualized interest expense of approximately $72 million (based on the initial interest rate on the Term Loan of 3%).

Interest Income

        Interest income increased $2 million to $8 million for 2013 from $6 million for 2012. For 2012, interest income was flat at $6 million compared to 2011.

Net Loss on Early Extinguishment of Debt

        For 2012, the net loss on early extinguishment of debt of $32 million reflected a pre-tax loss associated with the redemption of the Company's $338 million of 5.625% senior notes due 2012 and $400 million of 8.20% senior notes due 2014, partially offset by the pre-tax gain recognized upon the redemption of the Company's $700 million of 6.75% senior notes due 2056 (See Note 8 to the consolidated financial statements).

Other Items, Net

        For all periods presented, "Other items, net" primarily consisted of foreign exchange gains and losses.

Provision for Income Taxes

        The provision for income taxes represents federal, state and local, and foreign income taxes on earnings from continuing operations before income taxes and equity in loss of investee companies. For 2013, the provision for income taxes increased to $978 million from $892 million in 2012 and for 2012, the provision for income taxes increased from $751 million in 2011. These increases were mainly driven by the increase in earnings from continuing operations. The Company's effective income tax rate was 34% in 2013, 35% in 2012 and 34% in 2011. For 2014, the Company's annual effective tax rate is expected to be comparable to the prior three years.

Equity in Loss of Investee Companies, Net of Tax

        Equity in loss of investee companies, net of tax, was $46 million for 2013, $35 million for 2012 and $37 million for 2011 reflecting the Company's share of the operating results of its equity investments.

Net Earnings from Continuing Operations

        The Company reported net earnings from continuing operations of $1.87 billion for 2013, $1.63 billion for 2012 and $1.39 billion for 2011.

II-11

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

Net Earnings (Loss) from 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 to the consolidated financial statements).

        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	)

Net Earnings and Diluted EPS

        For 2013, net earnings were $1.88 billion, or $3.01 per diluted share, up from $1.57 billion, or $2.39 per diluted share in 2012, and for 2012, net earnings increased from $1.31 billion, or $1.92 per diluted share in 2011. These increases were mainly driven by the growth in operating income and a decline in interest expense. The increase in diluted EPS also reflected lower weighted average shares outstanding as a result of the Company's ongoing share repurchase program.

Reconciliation of Non-GAAP Financial Information

        Free cash flow is a non-GAAP financial measure. Free cash flow reflects the Company's net cash flow provided by (used for) operating activities before operating cash flow from discontinued operations and less capital expenditures. The Company's calculation of free cash flow includes capital expenditures because investment in capital expenditures is a use of cash that is directly related to the Company's operations. The Company's net cash flow provided by (used for) operating activities is the most directly comparable GAAP financial measure.

        Management believes free cash flow provides investors with an important perspective on the cash available to the Company to service debt, make strategic acquisitions and investments, maintain its capital assets, satisfy its tax obligations, and fund ongoing operations and working capital needs. As a result, free cash flow is a significant measure of the Company's ability to generate long-term value. It is useful for investors to know whether this ability is being enhanced or degraded as a result of the Company's operating performance. The Company believes the presentation of free cash flow is relevant and useful for investors because it allows investors to evaluate the cash generated from the Company's underlying operations in a manner similar to the method used by management. Free cash flow is one of several

II-12

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

components of incentive compensation targets for certain management personnel. In addition, free cash flow is a primary measure used externally by the Company's investors, analysts and industry peers for purposes of valuation and comparison of the Company's operating performance to other companies in its industry.

        As free cash flow is not a measure calculated in accordance with GAAP, free cash flow should not be considered in isolation of, or as a substitute for, either net cash flow provided by (used for) operating activities as a measure of liquidity or net earnings (loss) as a measure of operating performance. Free cash flow, as the Company calculates it, may not be comparable to similarly titled measures employed by other companies. In addition, free cash flow as a measure of liquidity has certain limitations, does not necessarily represent funds available for discretionary use, and is not necessarily a measure of the Company's ability to fund its cash needs. When comparing free cash flow to net cash flow provided by (used for) operating activities, the most directly comparable GAAP financial measure, users of this financial information should consider the types of events and transactions that are not reflected in free cash flow.

        The following table presents a reconciliation of the Company's net cash flow provided by operating activities to free cash flow.

Year Ended December 31,	2013			2012			2011
Net cash flow provided by operating activities	$	1,873		$	1,815		$	1,749
Capital expenditures		(270	)		(254	)		(245	)
Exclude net cash flow used for operating activities from discontinued operations		(171	)		(4	)		(83	)
Free cash flow	$	1,774		$	1,565		$	1,587

Segment Results of Operations—For the Years Ended December 31, 2013, 2012 and 2011

        The following tables present the Company's revenues; operating income (loss) before depreciation and amortization ("OIBDA"), restructuring charges and impairment charges ("Segment OIBDA"); operating income (loss); and depreciation and amortization by segment, for each of the years ended December 31, 2013, 2012 and 2011. The Company presents Segment OIBDA as the primary measure of profit and loss for its operating segments in accordance with Financial Accounting Standards Board ("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. The reconciliation of Segment OIBDA to the Company's consolidated Net earnings (loss) is presented in Note 15 (Reportable Segments) to the consolidated financial statements.

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

II-13

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

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	)
Total Operating Income	$	3,259		$	2,983		$	2,619
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:
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

Entertainment (CBS Television Network, CBS Television Studios, CBS Global Distribution Group, CBS Films and CBS Interactive)

        (Contributed 57% to consolidated revenues in 2013 and 55% to consolidated revenues in each of 2012 and 2011, and 49%, 46% and 47% to consolidated operating income in 2013, 2012 and 2011, respectively.)

Year Ended December 31,	2013			2012			2011
Revenues	$	8,645		$	7,694		$	7,457
Segment OIBDA	$	1,758		$	1,549		$	1,431
Restructuring charges		(12	)		(7	)		(40	)
Depreciation and amortization		(153	)		(161	)		(160	)
Operating income	$	1,593		$	1,381		$	1,231
Segment OIBDA as a % of revenues		20%			20%			19%
Operating income as a % of revenues		18%			18%			17%
Capital expenditures	$	101		$	92		$	94

II-14

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

2013 vs. 2012

        For 2013, Entertainment revenues increased 12% to $8.65 billion from $7.69 billion in 2012 reflecting higher advertising revenues, content licensing and distribution revenues and network affiliation fees. Advertising revenues increased 10%, driven by growth at the CBS Television Network of 10%, reflecting higher revenues from sports, including the broadcast of Super Bowl XLVII on the CBS Television Network in 2013, as well as an increase in primetime. Also contributing to the advertising revenue growth is an increase at CBS Interactive of 18%. Content licensing and distribution revenues increased 15%, reflecting growth from domestic and international licensing of television programming for digital streaming and syndication, led by the first-cycle domestic availabilities of NCIS: Los Angeles and The Good Wife.

        For 2013, Entertainment OIBDA increased $209 million, or 13%, to $1.76 billion from $1.55 billion for 2012, principally driven by the growth in revenues which was partially offset by an increased investment in television content and higher sports programming costs associated with the Super Bowl broadcast. For 2013, restructuring charges of $12 million principally reflected costs associated with exiting certain international operations and severance costs. Restructuring charges of $7 million in 2012 principally reflected severance costs.

        Comparability in 2014 will be negatively impacted by the Super Bowl broadcast on CBS in the first quarter of 2013 and, beginning in the third quarter of 2014, cost increases associated with the Company's new agreement with the NFL as well as the addition of a Thursday night NFL game on CBS for eight weeks. Results in 2014 are expected to benefit from incremental network affiliation fees associated with current agreements and expected renewals in 2014. Also in 2014, the Company expects to benefit from the first-cycle domestic availabilities of Hawaii Five-0 and Blue Bloods, however, revenue comparisons may be impacted by fluctuations resulting from the timing of the availability of television series for multiple year licensing agreements. Television license fee revenues are recognized at the beginning of the license period in which programs are made available to the licensee for exhibition, while the related cash is collected over the term of the license period. At December 31, 2013 and 2012, total outstanding receivables attributable to revenues recognized under licensing agreements were $3.14 billion and $2.42 billion, respectively. At December 31, 2013, the total amount due from these receivables was $1.52 billion in 2014, $848 million in 2015, $400 million in 2016, $207 million in 2017, and $168 million in 2018 and thereafter. Unrecognized revenues attributable to license agreements for produced programming that is not yet available for exhibition were $1.14 billion and $1.31 billion at December 31, 2013 and 2012, respectively.

2012 vs. 2011

        For 2012, Entertainment revenues increased 3% to $7.69 billion from $7.46 billion in 2011. This growth was led by a 13% increase in revenues from the licensing of television programming, driven by higher licensing revenues from digital streaming as well as domestic and international syndication. Revenue growth also reflects higher network affiliation fees. Advertising revenues increased slightly, reflecting higher pricing partially offset by lower primetime ratings during the second half of 2012.

        For 2012, Entertainment OIBDA increased $118 million, or 8%, to $1.55 billion from $1.43 billion for 2011, principally driven by the aforementioned revenue growth and higher profit margins on television licensing revenues. For 2011, restructuring charges of $40 million principally reflected costs associated with exiting operating facilities and severance costs.

II-15

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

Cable Networks (Showtime Networks, CBS Sports Network and Smithsonian Networks)

        (Contributed 14%, 13% and 12% to consolidated revenues in 2013, 2012 and 2011, respectively, and 27% to consolidated operating income in 2013 and 26% to consolidated operating income in each of 2012 and 2011.)

Year Ended December 31,	2013			2012			2011
Revenues	$	2,069		$	1,772		$	1,621
Segment OIBDA	$	898		$	811		$	707
Restructuring charges		(1	)		—			—
Depreciation and amortization		(20	)		(26	)		(23	)
Operating income	$	877		$	785		$	684
Segment OIBDA as a % of revenues		43%			46%			44%
Operating income as a % of revenues		42%			44%			42%
Capital expenditures	$	16		$	18		$	15

2013 vs. 2012

        For 2013, Cable Networks revenues increased 17% to $2.07 billion from $1.77 billion in 2012 driven by higher domestic and international licensing revenues from the digital streaming and syndication of Showtime original series, led by Dexter, revenues from the distribution of two Floyd Mayweather pay-per-view boxing events, and higher affiliate revenues. Affiliate revenues increased 5% reflecting rate increases and growth in subscriptions at Showtime Networks, CBS Sports Network and Smithsonian Networks. As of December 31, 2013 subscriptions totaled approximately 76 million for Showtime Networks (including Showtime, The Movie Channel and Flix), 51 million for CBS Sports Network and 21 million for Smithsonian Networks.

        For 2013, Cable Networks OIBDA increased $87 million, or 11%, to $898 million from $811 million for 2012, principally due to the aforementioned revenue increases, partially offset by higher programming and production costs associated with the pay-per-view boxing events, the increase in licensing revenues and increased investment in Showtime original series. Cable Networks OIBDA margin decreased to 43% in 2013 from 46% in 2012 due to the margin impact from the distribution of the above mentioned pay-per-view boxing events. Restructuring charges of $1 million in 2013 reflected severance costs.

2012 vs. 2011

        For 2012, Cable Networks revenues increased 9% to $1.77 billion from $1.62 billion in 2011 primarily driven by higher affiliate fees, which reflected increases in rates and growth in subscriptions at Showtime Networks, CBS Sports Network and Smithsonian Networks, as well as higher licensing revenues from the digital streaming and international syndication of Showtime original series. As of December 31, 2012 subscriptions totaled approximately 76 million for Showtime Networks (including Showtime, The Movie Channel and Flix), 46 million for CBS Sports Network and 17 million for Smithsonian Networks.

        For 2012, Cable Networks OIBDA increased $104 million, or 15%, to $811 million from $707 million for 2011, primarily due to the aforementioned revenue growth and lower costs for theatrical programming, partially offset by higher programming and production costs associated with Showtime original series and sports programming.

II-16

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

Publishing (Simon & Schuster)

        (Contributed 5% to consolidated revenues in 2013 and 6% to consolidated revenues in each of 2012 and 2011, and 3% to consolidated operating income in each of 2013, 2012 and 2011.)

Year Ended December 31,	2013			2012			2011
Revenues	$	809		$	790		$	787
Segment OIBDA	$	113		$	89		$	92
Restructuring charges		(1	)		(3	)		(2	)
Depreciation and amortization		(6	)		(6	)		(7	)
Operating income	$	106		$	80		$	83
Segment OIBDA as a % of revenues		14%			11%			12%
Operating income as a % of revenues		13%			10%			11%
Capital expenditures	$	4		$	5		$	7

2013 vs. 2012

        For 2013, Publishing revenues increased 2% to $809 million from $790 million in 2012 led by growth in digital book sales. Digital book sales increased 22% from the same prior-year period and represented 27% of Publishing's total revenues for 2013 compared to 23% in 2012. Best-selling titles in 2013 included Doctor Sleep by Stephen King and Happy, Happy, Happy by Phil Robertson.

        For 2013, Publishing OIBDA increased $24 million, or 27%, to $113 million from $89 million for 2012. The increase was mainly driven by the revenue growth, a charge in 2012 related to a legal settlement and a decline in production and distribution costs associated with a higher mix of revenues from digital book sales, partially offset by higher advertising expenses. Restructuring charges of $1 million in 2013 primarily reflected severance costs and restructuring charges of $3 million in 2012 primarily reflected costs associated with combining several of Publishing's imprints.

2012 vs. 2011

        For 2012, Publishing revenues of $790 million remained relatively flat compared to $787 million in 2011, reflecting growth in digital book sales and lower print book sales. Revenues from digital sales increased 35% from the same prior-year period and represented 23% of total Publishing revenues in 2012 compared to 17% in 2011. Best-selling titles in 2012 included Kill Shot by Vince Flynn and The Wind Through the Keyhole by Stephen King.

        For 2012, Publishing OIBDA decreased $3 million, or 3%, to $89 million from $92 million for 2011. The decrease was driven by a charge related to a settlement agreement to resolve the e-books antitrust action covering a number of states, the District of Columbia and United States territories. Underlying Publishing results in 2012 reflected margin growth associated with an increase in the mix of revenues from digital book sales, which have lower production and distribution costs than print books. Restructuring charges of $2 million in 2011 reflected severance costs.

II-17

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

Local Broadcasting (CBS Television Stations and CBS Radio)

        (Contributed 18% to consolidated revenues in 2013 and 20% to consolidated revenues in each of 2012 and 2011, and 25%, 28% and 29% to consolidated operating income in 2013, 2012 and 2011, respectively.)

Year Ended December 31,	2013			2012			2011
Revenues	$	2,696		$	2,774		$	2,689
Segment OIBDA	$	898		$	957		$	849
Restructuring charges		(5	)		(8	)		—
Impairment charges		—			(11	)		—
Depreciation and amortization		(86	)		(90	)		(99	)
Operating income	$	807		$	848		$	750
Segment OIBDA as a % of revenues		33%			34%			32%
Operating income as a % of revenues		30%			31%			28%
Capital expenditures	$	64		$	64		$	69

2013 vs. 2012

        For 2013, Local Broadcasting revenues decreased 3% to $2.70 billion from $2.77 billion for 2012. CBS Television Stations revenues decreased 4%, primarily driven by lower political advertising and lower revenues from the nonrenewal of an unprofitable sports programming contract. These decreases were partially offset by the benefit of the 2013 broadcast of Super Bowl XLVII to the Company's owned CBS affiliated stations and higher retransmission revenues. CBS Radio revenues decreased 1% principally reflecting the impact of radio station dispositions in 2012, partially offset by the benefit of the new CBS Sports Radio network. Results for 2014 are expected to benefit from increased political advertising spending for midterm elections.

        Local Broadcasting OIBDA decreased $59 million, or 6%, to $898 million from $957 million for 2012, principally reflecting lower revenues, partially offset by lower television programming costs and the benefit from the nonrenewal of an unprofitable sports programming contract. During 2012, the Company recorded a pre-tax noncash impairment charge of $11 million to reduce the carrying value of the allocated goodwill in connection with the disposition of the Company's radio stations in West Palm Beach. Restructuring charges of $5 million in 2013 reflected severance costs. For 2012, restructuring charges of $8 million principally reflected severance costs and costs associated with exiting contractual obligations.

2012 vs. 2011

        For 2012, Local Broadcasting revenues increased 3% to $2.77 billion from $2.69 billion for 2011 principally reflecting higher political advertising and retransmission revenues partially offset by softness in local economies. CBS Television Stations revenues increased 8% from the prior year, while CBS Radio revenues decreased 2%.

        For 2012, Local Broadcasting OIBDA increased $108 million, or 13%, to $957 million from $849 million for 2011, primarily driven by the revenue growth, lower programming costs for syndicated programming, and lower music royalty costs.

II-18

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

Acquisitions and Dispositions

        During 2012, the Company acquired a radio station in the New York market and a radio station in the Washington, D.C. area, as well as a television station in Long Island, New York. Also during 2012, the Company sold five radio stations in West Palm Beach. Together, these acquisitions and dispositions did not have a material impact on the comparability of operating results.

Outdoor Americas (CBS Outdoor)

        (Contributed 9% to consolidated revenues in 2013, 2012 and 2011, and 7% to consolidated operating income in each of 2013 and 2012, and 8% to consolidated operating income in 2011.)

Year Ended December 31,	2013			2012			2011
Revenues	$	1,304		$	1,296		$	1,286
Segment OIBDA	$	411		$	378		$	380
Restructuring charges		—			—			(1	)
Depreciation and amortization		(168	)		(169	)		(182	)
Operating income	$	243		$	209		$	197
Segment OIBDA as a % of revenues		32%			29%			30%
Operating income as a % of revenues		19%			16%			15%
Capital expenditures	$	58		$	54		$	46

2013 vs. 2012

        For 2013, Outdoor Americas revenues increased 1% in both reported and constant dollars to $1.30 billion, driven by 3% revenue growth in the U.S., reflecting increased revenues in the billboard and transit businesses of 3% and 2%, respectively. This increase was partially offset by the impact of the nonrenewal of transit contracts in Canada, as well as a decline in Mexico. Approximately 13% and 14% of Outdoor Americas revenues were generated from regions outside the U.S. for 2013 and 2012, respectively.

        For 2013, Outdoor Americas OIBDA increased $33 million, or 9%, to $411 million from $378 million in 2012, primarily reflecting the revenue growth, gains from the disposition of outdoor assets in 2013, and the impact from a billboard tax imposed on the outdoor advertising industry in Toronto, which included a one-time retroactive payment in 2012. In the fourth quarter of 2013, the Company sold 50% of its transit shelter operations in Los Angeles. 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. This transaction resulted in a gain of $17 million in the fourth quarter of 2013.

2012 vs. 2011

        For 2012, Outdoor Americas revenues increased 1% on both a reported and constant dollar basis to $1.30 billion from $1.29 billion in 2011, principally driven by 5% growth in the U.S. reflecting increases in both the billboard and transit businesses. The nonrenewal of the Toronto transit contract negatively affected the revenue comparison by two percentage points. Approximately 14% and 18% of Outdoor Americas revenues were generated from regions outside the U.S. for 2012 and 2011, respectively.

        For 2012, Outdoor Americas OIBDA decreased $2 million, or 1%, to $378 million from $380 million in 2011, as the revenue growth was offset by the negative outcome of a dispute over a billboard tax that was

II-19

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

imposed on the outdoor advertising industry in Toronto, including a one-time retroactive payment. Outdoor Americas depreciation and amortization decreased $13 million to $169 million in 2012, principally reflecting lower amortization for leasehold agreements. Restructuring charges of $1 million in 2011 reflected severance costs.

Outdoor Americas Initiatives

        During 2013, the Company announced its intention to separate its Outdoor Americas business and, subject to receiving an IRS ruling, convert this business into a REIT. Subject to market conditions and customary approvals, CBS Outdoor Americas Inc. expects to sell up to 20% of its common stock through an 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.

Corporate

        Corporate expenses include general corporate overhead, unallocated shared company expenses, pension and postretirement benefit costs for plans retained by the Company for previously divested businesses, and intercompany eliminations. For 2013, corporate expenses increased 15% to $367 million from $320 million for 2012 driven by higher stock-based compensation of $62 million, mainly associated with the increase in the Company's stock price, and professional fees related to the Outdoor Americas Initiatives. This increase was partially offset by lower pension and postretirement benefit costs, reflecting the benefit from pre-funding pension plans in 2012 and the favorable performance of pension plan assets in 2012.

        For 2012, corporate expenses decreased 2% to $320 million from $326 million for 2011 driven by lower pension and postretirement benefit costs, primarily due to the benefit from pre-funding pension plans in 2011 and lower pension-related interest cost associated with retirees. This decrease was partially offset by expense increases associated with the Company's higher stock price.

Financial Position

        Current assets decreased by $350 million to $5.37 billion at December 31, 2013 from $5.72 billion at December 31, 2012, primarily due to a decrease in cash and cash equivalents and a decrease in current assets of discontinued operations reflecting the disposition of Outdoor Europe during 2013. These decreases were partially offset by an increase in receivables associated with television licensing agreements. The allowance for doubtful accounts as a percentage of receivables decreased to 2.2% at December 31, 2013 compared with 2.5% at December 31, 2012, primarily due to the increase in receivables relating to television licensing agreements, which generally have a higher rate of collectibility compared to the Company's other receivables.

        Net property and equipment of $2.24 billion at December 31, 2013 decreased by $35 million from $2.27 billion at December 31, 2012, primarily reflecting depreciation expense of $357 million, partially offset by capital expenditures of $270 million and capital lease additions for broadcasting equipment of $58 million.

        Other assets increased by $459 million to $2.01 billion at December 31, 2013 from $1.55 billion at December 31, 2012, primarily reflecting higher long-term receivables associated with additional revenues from long-term television licensing agreements, and the acquisition of a 50% interest in TVGN (TV Guide Network) during the first quarter of 2013.

II-20

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

        As of December 31, 2013, total outstanding receivables from licensing arrangements, including both current and noncurrent, were $3.14 billion versus $2.42 billion at December 31, 2012. At December 31, 2013, the total amount due from these receivables was $1.52 billion in 2014, $848 million in 2015, $400 million in 2016, $207 million in 2017, and $168 million in 2018 and thereafter.

        Current liabilities increased by $266 million to $4.21 billion at December 31, 2013 from $3.94 billion at December 31, 2012, primarily driven by commercial paper borrowings, partially offset by a decrease in current liabilities of discontinued operations resulting from the disposition of Outdoor Europe.

        Pension and postretirement benefit obligations decreased by $530 million to $1.33 billion at December 31, 2013 from $1.86 billion at December 31, 2012, primarily reflecting contributions to the Company's qualified pension plans and an increase in the discount rate partially offset by changes in other actuarial assumptions.

        Other liabilities decreased $66 million to $2.09 billion at December 31, 2013 from $2.16 billion at December 31, 2012, primarily driven by lower programming liabilities and residual liabilities of previously disposed businesses.

Cash Flows

        Cash and cash equivalents decreased by $311 million for the year ended December 31, 2013 and increased by $48 million and $180 million for the years ended December 31, 2012 and 2011, respectively. The changes in cash and cash equivalents were as follows:

Year Ended December 31,	2013			2012			2011
Cash provided by (used for) operating activities from:
Continuing operations	$	2,044		$	1,819		$	1,832
Discontinued operations		(171	)		(4	)		(83	)
Cash provided by operating activities		1,873			1,815			1,749
Cash used for investing activities from:
Continuing operations		(255	)		(429	)		(369	)
Discontinued operations		(17	)		(22	)		(20	)
Cash used for investing activities		(272	)		(451	)		(389	)
Cash used for financing activities		(1,912	)		(1,316	)		(1,180	)
Net (decrease) increase in cash and cash equivalents	$	(311	)	$	48		$	180

        Operating Activities.    In 2013, cash provided by operating activities from continuing operations increased $225 million to $2.04 billion from $1.82 billion in 2012 primarily reflecting growth in operating income, the benefit from the 2013 Super Bowl broadcast on the CBS Television Network and lower payments for interest. Cash interest payments for 2012 included approximately $60 million associated with the early extinguishment of debt, primarily for make-whole premiums. The increase from operating income was partially offset by an increase in receivables from the licensing of television programming, driven by the timing difference between revenue recognition and collections for long term television licensing arrangements. Revenues from the licensing of television programming are recognized when the television series is made available to the licensee, at the beginning of the applicable license period, while the related cash is collected over the term of the license period. During 2013, the Company made

II-21

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

contributions of $150 million to pre-fund its qualified pension plans compared with contributions of $200 million in 2012.

        Cash used for operating activities from discontinued operations of $171 million for 2013 includes payments associated with exiting an unprofitable contractual arrangement in connection with the sale of Outdoor Europe.

        In 2012, cash provided by operating activities from continuing operations decreased $13 million to $1.82 billion from $1.83 billion in 2011 as the increase in operating income was more than offset by higher income tax payments and a higher use of cash from working capital. The increased use of working capital primarily reflected a higher level of investment in television content in 2012, and higher receivables from the timing difference between revenue recognition and collections for long term television licensing arrangements, primarily for digital streaming. The Company made pension contributions to its qualified plans of $200 million in 2012 compared with $410 million in 2011.

        Cash paid for income taxes from continuing operations was $422 million for 2013, $425 million for 2012 and $233 million for 2011. The decrease in cash taxes for 2013 was mainly due to the receipt of federal tax refunds, offset by the increase in pre-tax income. The increase in cash taxes for 2012 compared to 2011 was driven by the increase in pre-tax income and lower tax benefits from lower contributions to the Company's qualified pension plans.

        Investing Activities.    In 2013, cash used for investing activities from continuing operations of $255 million principally reflects capital expenditures of $270 million and investments in investee companies of $176 million, mainly for the Company's new investment in TVGN (TV Guide Network) as well as its other domestic and international television joint ventures. These cash uses were partially offset by net proceeds from dispositions of $193 million, principally from the sale of Outdoor Europe. In 2012, cash used for investing activities from continuing operations of $429 million principally includes capital expenditures of $254 million; acquisitions of $146 million, primarily for television and radio stations; and investments of $91 million, primarily in domestic and international television joint ventures. These uses of cash were partially offset by $49 million received for dispositions, principally from the sale of radio stations. In 2011, cash used for investing activities from continuing operations of $369 million principally reflected capital expenditures of $245 million; investments of $79 million, principally in domestic and international television joint ventures; and acquisitions of $75 million, primarily for internet businesses.

        Capital expenditures for 2014 are anticipated to be at a similar level to 2013.

        Financing Activities.    In 2013, cash used for financing activities of $1.91 billion principally reflected the repurchase of CBS Corp. Class B Common Stock for $2.19 billion and dividend payments of $300 million, partially offset by proceeds from short-term borrowings of $475 million. For 2012, cash used for financing activities of $1.32 billion principally reflected the repayment of notes and debentures of $1.58 billion, the repurchase of CBS Corp. Class B Common Stock for $1.14 billion and dividend payments of $276 million, partially offset by proceeds from the issuance of notes of $1.57 billion and proceeds from the exercise of stock options of $168 million. For 2011, cash used for financing activities of $1.18 billion principally reflected the repurchase of CBS Corp. Class B Common Stock for $1.01 billion and dividend payments of $206 million, partially offset by proceeds from the exercise of stock options of $72 million.

Dividends

        On January 29, 2014, the Company announced a quarterly cash dividend of $.12 per share on its Class A and Class B Common Stock, payable on April 1, 2014. The Company declared a quarterly cash

II-22

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

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.

Share Repurchase Program

        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.

        During the first quarter of 2014, the Company expects to spend $2.0 billion to repurchase shares of CBS Corp. Class B Common Stock, of which $1.5 billion will be spent for an ASR transaction using proceeds from Outdoor Americas borrowings.

Capital Structure

At December 31,	2013		2012
Commercial paper	$	475	$	—
Senior debt (1.95% – 8.875% due 2014 – 2042)		5,861		5,863
Obligations under capital leases		113		72
Total debt (a)		6,449		5,935
Less discontinued operations debt (b)		13		13
Total debt from continuing operations		6,436		5,922
Less commercial paper		475		—
Less current portion of long-term debt		21		18
Total long-term debt from continuing operations, net of current portion	$	5,940	$	5,904

(a)

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.

(b)

Included in "Liabilities of discontinued operations" on the Consolidated Balance Sheets.

        At December 31, 2013, the Company's scheduled maturities of long-term debt at face value, excluding capital leases, were as follows:

	2014		2015		2016		2017		2018		2019 and Thereafter
Long-term debt	$	99	$	—	$	200	$	400	$	300	$	4,857

Outdoor Americas Indebtedness

        In January 2014, in connection with the Outdoor Americas Initiatives, Outdoor Americas borrowed $1.60 billion through an $800 million 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

II-23

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

equal to 2.25% plus the greater of the London Interbank Offer Rate ("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 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 ASR transaction with $50 million retained by Outdoor Americas for its corporate purposes and ongoing cash needs.

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 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.

II-24

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

Liquidity and Capital Resources

        The Company continually projects anticipated cash requirements for its operating, investing and financing needs as well as cash flows generated from operating activities available to meet these needs. The Company's operating needs include, among other items, commitments for sports programming rights, television and film programming, talent contracts, operating leases, transit franchise payments, interest payments, and pension funding obligations. The Company's investing and financing spending includes capital expenditures, share repurchases, dividends and principal payments on its outstanding indebtedness. The Company believes that its operating cash flows, cash and cash equivalents, borrowing capacity under its Credit Facility, which had $1.99 billion of remaining availability at December 31, 2013, and access to capital markets are sufficient to fund its operating, investing and financing requirements for the next twelve months.

        The Company's funding for short-term and long-term obligations will come primarily from cash flows from operating activities. Any additional cash funding requirements are financed with short-term borrowings, including commercial paper, and long-term debt. To the extent that commercial paper is not available to the Company, the existing Credit Facility provides sufficient capacity to satisfy short-term borrowing needs.

        At December 31, 2013, the Company had $475 million of commercial paper borrowings outstanding, which the Company expects to repay during the first quarter of 2014 using proceeds from its Outdoor Americas Initiatives and cash generated from operations. Funding for the Company's long-term debt obligations due over the next five years of $999 million is expected to come from the Company's ability to refinance its debt and cash generated from operating activities.

        During the first quarter of 2014, the Company expects to spend $2.0 billion to repurchase shares of CBS Corp. Class B Common Stock, of which a $1.5 billion will be spent for an ASR transaction using proceeds from Outdoor Americas borrowings. (See "Capital Structure").

II-25

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

Contractual Obligations

        As of December 31, 2013 the Company's significant contractual obligations and payments due by period were as follows:

	Payments Due by Period
	Total		2014		2015-2016		2017-2018		2019 and thereafter
Programming and talent commitments (a)	$	14,480	$	2,356	$	3,507	$	2,914	$	5,703
Guaranteed minimum franchise payments (b)		331		151		119		22		39
Purchase obligations (c)		1,045		240		339		220		246
Operating leases (d)		1,791		251		426		331		783
Other long-term contractual obligations (e)		1,155		—		952		150		53
Long-term debt obligations (f)		5,856		99		200		700		4,857
Interest commitments on long-term debt (g)		4,339		345		667		631		2,696
Capital lease obligations (including interest) (h)		134		21		39		30		44
Total	$	29,131	$	3,463	$	6,249	$	4,998	$	14,421

(a)

Programming and talent commitments of the Company 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.

(b)

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.

(c)

Purchase obligations include agreements to purchase goods or services that are enforceable and legally binding and that specify all significant terms, including open purchase orders.

(d)

Consists of long-term noncancellable operating lease commitments for office space, billboards, equipment, transponders and studio facilities. Total future minimum payments of $1.79 billion include $640 million for Outdoor Americas billboards.

(e)

Long-term contractual obligations recorded on the Company's Consolidated Balance Sheet including program liabilities, participations due to producers and residuals.

(f)

Long-term debt obligations are presented at face value, including discontinued operations debt and excluding capital leases.

(g)

Future interest based on scheduled debt maturities, excluding capital leases.

(h)

Includes capital leases for satellite transponders.

        The table above excludes $140 million of reserves for uncertain tax positions and the related accrued interest and penalties, as the Company cannot reasonably predict the amount of and timing of cash payments relating to this obligation. The above table also excludes principal and interest payments related to the $1.60 billion of indebtedness incurred by Outdoor Americas in January 2014.

        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.

II-26

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

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.

Critical Accounting Policies

        The preparation of the Company's financial statements in conformity with generally accepted accounting principles 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. On an ongoing basis, the Company evaluates its estimates, which are based on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. The result of these evaluations forms the basis for making judgments about the carrying values of assets and liabilities and the reported amount of revenues and expenses that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions.

        The Company considers the following accounting policies to be the most critical as they are important to the Company's financial condition and results of operations, and require significant judgment and estimates on the part of management in its application. For a summary of the Company's significant accounting policies see the accompanying notes to the consolidated financial statements.

Programming and Production Costs

        Accounting for television and theatrical film production costs requires management's judgment as it relates to total estimated revenues to be earned ("Ultimate Revenues") and costs to be incurred throughout the life of each television program or theatrical film. These estimates are used to determine the amortization of capitalized production costs, expensing of participation costs, and any necessary net realizable value adjustments to capitalized production costs. For each television program or theatrical film, management bases these estimates on the performance in the initial markets, the existence of future firm commitments to sell and the past performance of similar television programs or theatrical films.

II-27

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

        The costs incurred in acquiring television series and feature film programming are capitalized when the program is accepted and available for airing and 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. Management's judgment is required in determining the timing of the expensing of these costs, which is dependent on the economic benefit expected to be generated from the program.

        Ultimate revenue estimates for internally produced television programming and theatrical films, and the estimated economic benefit for acquired programming, which includes television series, feature films and sports, are updated regularly based on information available as the television program and theatrical film progresses through its life cycle or contractual term. Overestimating Ultimate Revenues for internally produced programming or a failure to adjust for a downward revision in the estimated economic benefit to be generated from acquired programming could result in the understatement of the amortization of capitalized production or programming costs, future net realizable value adjustments and/or estimated accruals for participation expense.

Impairment of Goodwill and Intangible Assets

        The Company tests goodwill and intangible assets with indefinite lives, primarily comprised of FCC licenses, for impairment during the fourth quarter of each year, and on an interim date should factors or indicators become apparent that would require an interim test.

        Goodwill—Goodwill is tested for impairment at the reporting unit level, which is one level below or the same as an operating segment. For 2013, in accordance with FASB guidance for goodwill impairment testing, the Company performed qualitative assessments for seven reporting units 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. The reporting unit specific factors that were considered included financial performance and changes to the reporting units' carrying amounts since the most recent impairment tests. For each industry in which the reporting units operate, the Company considered growth projections from independent sources and significant developments or transactions within the industry. The Company also determined that the impact of macroeconomic factors on the discount rates and growth rates used for the most recent impairment tests would not significantly affect the fair value of the reporting units. Based on this qualitative assessment, considering the aggregation of these factors, the Company concluded that for these seven reporting units, it is not more likely than not that the fair value of each reporting unit is less than its carrying amount and therefore performing the two-step impairment test was unnecessary.

        The Company performed the first step of the goodwill impairment test for the remaining two reporting units. The first step of the goodwill impairment test examines whether the carrying value of a reporting unit exceeds its fair value. The estimated fair value of each reporting unit 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"). For 2013, the Discounted Cash Flow Method and Market Comparable Method resulted in substantially equal fair values. The Discounted Cash Flow Method adds the present value of the estimated annual cash flows over a discrete projection period to the residual value of the business at the end of the projection period. This technique requires the use of significant estimates and assumptions such as growth rates, operating margins, capital expenditures and discount rates. The estimated growth rates, operating margins and capital expenditures

II-28

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

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. The discount rates are determined based on the average of the weighted average cost of capital of comparable entities. Certain future events and circumstances, including deterioration of market conditions, higher cost of capital, a decline in the advertising market or a decrease in audience acceptance of programming, could result in changes to these assumptions and judgments. A downward revision of these assumptions could cause the fair values of the reporting units to fall below their respective carrying values. The Company would then perform the second step of the goodwill impairment test to determine the amount of any non-cash impairment charge. Such a charge could have a material effect on the Company's Consolidated Statement of Operations and Consolidated Balance Sheet.

        Based on the 2013 annual impairment test, the Company concluded that the fair value of each of the two reporting units for which the Company performed the first step of the goodwill impairment test exceeded their respective carrying values. The carrying value of the following reporting unit, which had a goodwill balance of $1.86 billion at December 31, 2013, was within 10% of its fair value:

				Significant Assumptions
Reporting Unit	Reporting Unit Fair Value in Excess of Carrying Value			Perpetual Nominal Growth Rate			Discount Rate
CBS Radio		3	%		1.5	%		8.0%

        An increase to the discount rate of 20 basis points or a decrease to the perpetual nominal growth rate of 20 basis points, assuming no changes to other factors, would cause the fair value of the CBS Radio reporting unit to fall below its respective carrying value.

        FCC Licenses—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 its annual impairment test performed in the fourth quarter of 2013, the Company performed qualitative assessments for eight radio markets and ten television markets which management estimates each have an aggregate fair value of FCC licenses that exceed their respective carrying values by 20% or more. For each market, the Company weighed the relative impact of market-specific and macroeconomic factors. The market-specific factors considered include recent projections by geographic market from both independent and internal sources for advertising revenue and operating costs, as well as market share and capital expenditures. The Company also considered the macroeconomic impact on discount rates and growth rates. Based on this qualitative assessment, considering the aggregation of these factors, the Company concluded that it is not more likely than not that the aggregate fair values of the FCC licenses in each of these radio and television markets are less than their respective carrying values. Therefore, performing the quantitative impairment test was unnecessary.

        For each of the remaining radio and television markets the Company performed a 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

II-29

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

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.

        The discount rates and perpetual nominal growth rates used for each television and radio station for 2013 were as follows:

	Discount Rate			Perpetual Nominal Growth Rate
Television stations		8.0	%		2.5%
Radio stations		8.0	%		1.5%

        The assumptions used in determining the fair values of the FCC licenses require management to make significant judgments. Certain events and circumstances, including deterioration of market conditions, higher cost of capital or a decline in the local radio or television advertising markets, could result in changes to these assumptions and judgments. The estimated fair values of the FCC licenses are highly dependent on the assumptions of future economic conditions in the individual geographic markets in which the Company owns and operates television and radio stations. Deterioration in the economic conditions or a change in population size of any individual geographic market could adversely impact advertisers' ability or willingness to purchase advertising on the radio and television stations in that market. Advertising expenditures by companies in certain industries, including automotive, entertainment and retail, have historically represented a significant portion of the local radio and television advertising revenues in all geographic markets. As a result, an other-than-temporary decrease in spending by advertisers in these categories or adverse economic conditions, particularly in larger markets such as New York, Los Angeles, Chicago and San Francisco, where the Company holds FCC licenses with substantial carrying values, could have a significant impact on the fair value of the FCC licenses.

        Based on the 2013 annual impairment test, the Company concluded that the estimated fair value of the FCC licenses in each radio and television market for which the Company performed the quantitative assessment exceeded their respective carrying values and therefore no impairment charge was necessary. Two radio markets, which had an aggregate carrying value of FCC licenses of $114 million, were each within 5% of their respective estimated fair value, and eight radio markets, which had an aggregate carrying value of FCC licenses of $1.20 billion, were each within 10% of their respective estimated fair value. In each of the remaining radio markets and in all of the television markets, the estimated fair value of FCC licenses was in excess of the respective carrying values by more than 10%. A downward revision to the present value of future cash flows could result in impairment and a non-cash charge would be required. Such a charge could have a material effect on the Company's Consolidated Statement of Operations and Consolidated Balance Sheet.

II-30

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

Reserves and Legal Matters

        Estimates of reserves and liabilities related to legal issues and discontinued businesses, including asbestos and environmental matters, require significant judgments by management. The Company continually evaluates these estimates based on changes in the relevant facts and circumstances and events that may impact estimates. While management believes that the current reserves for matters related to predecessor operations of the Company, including environmental and asbestos, are adequate, there can be no assurance that circumstances will not change in future periods. 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.

Pensions

        Pension benefit obligations and net periodic pension costs are calculated using many actuarial assumptions. Two key assumptions used in accounting for pension liabilities and expenses are the discount rate and expected rate of return on plan assets. The discount rates are determined based on the yield on portfolios of high quality bonds, constructed to provide cash flows necessary to meet the Company's pension plans' expected future benefit payments, as determined for the projected 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. As of December 31, 2013, the unrecognized actuarial losses decreased from the prior year end due primarily to an increase in the discount rate partially offset by changes in other actuarial assumptions. A decrease in the discount rate would increase the projected benefit obligation. A 25 basis point change in the discount rate will result in an estimated change to the projected benefit obligation of approximately $100 million and will not have a material impact on the 2014 pension expense. A decrease in the expected rate of return on plan assets would increase pension expense. The estimated impact of a 25 basis point change in the expected rate of return on plan assets is a change of approximately $10 million in 2014 pension expense.

Income Taxes

        The Company is subject to income taxes in both the U.S. and numerous foreign jurisdictions. Significant judgment is required in determining the worldwide provision for income taxes. When recording the worldwide provision for income taxes, an estimated effective tax rate for the year is applied to interim operating results. In the event there is a significant or unusual item recognized in the quarterly operating results, the tax attributable to that item is separately calculated and recorded in the same quarter. 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. During 2013 and 2012, the Company recognized tax benefits of $17 million and $3 million, respectively, related to the net impact of the settlement of certain prior year tax audits. For 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. The Company is continually audited by U.S. federal and state as well as foreign tax authorities. While it is often difficult to predict the final outcome or the timing

II-31

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

of resolution of any particular tax matter, the Company believes that its reserve for uncertain tax positions of $140 million at December 31, 2013 is properly recorded pursuant to the recognition and measurement provisions of FASB guidance for uncertainty in income taxes.

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.

II-32

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

        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

II-33

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

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.

        Filings include claims for individuals suffering from mesothelioma, a rare cancer, the risk of which is allegedly increased by exposure to asbestos; lung cancer, a cancer which may be caused by various factors, one of which is alleged to be asbestos exposure; other cancers, and conditions that are substantially less serious, including claims brought on behalf of individuals who are asymptomatic as to an allegedly asbestos-related disease. The predominant number of claims against the Company are non-cancer claims. In a substantial number of the pending claims, the plaintiff has not yet identified the claimed injury. 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 during 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.

Market Risk

        The Company is exposed to market risk related to foreign currency exchange rates and interest rates. The Company uses derivative financial instruments to modify its exposure to market risks from fluctuations in foreign currency exchange rates. In accordance with its policy, 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.

II-34

Management's Discussion and Analysis of
Results of Operations and Financial Condition (Continued)
(Tabular dollars in millions, except per share amounts)

Foreign Exchange Risk

        The Company conducts business in various countries outside the U.S., resulting in exposure to movements in foreign exchange rates when translating from the foreign local currency to the U.S. dollar. In order to hedge anticipated cash flows, generally within the next twelve months, in currencies such as the British Pound, the Euro, the Canadian Dollar and the Australian Dollar, foreign currency forward contracts are used. Additionally, 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. The Company manages the use of foreign exchange derivatives centrally.

        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.

Interest Rate Risk

        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.

Credit Risk

        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 or 2012, due to the wide variety of customers, markets and geographic areas to which the Company's products and services are sold.

Related Parties

        For a discussion of related parties, see Note 6 to the consolidated financial statements.

Recent Pronouncements and Adoption of New Accounting Standards

        See Note 1 to the consolidated financial statements.

Item 7A.    Quantitative and Qualitative Disclosures about Market Risk.

        Response to this is included in "Management's Discussion and Analysis of Results of Operations and Financial Condition—Market Risk."

II-35

INDEX TO FINANCIAL STATEMENTS AND SCHEDULE

        The following Consolidated Financial Statements and schedule of the registrant and its subsidiaries are submitted herewith as part of this report:

		Reference (Page/s)
Item 15(a)(1) Financial Statements:
1.	Management's Report on Internal Control Over Financial Reporting	II-37
2.	Report of Independent Registered Public Accounting Firm	II-38
3.	Consolidated Statements of Operations for the years ended December 31, 2013, 2012 and 2011	II-39
4.	Consolidated Statements of Comprehensive Income for the years ended December 31, 2013, 2012 and 2011	II-40
5.	Consolidated Balance Sheets at December 31, 2013 and 2012	II-41
6.	Consolidated Statements of Cash Flows for the years ended December 31, 2013, 2012 and 2011	II-42
7.	Consolidated Statements of Stockholders' Equity for the years ended December 31, 2013, 2012 and 2011	II-43
8.	Notes to Consolidated Financial Statements	II-44 – II-94
Item 15(a)(2) Financial Statement Schedule:
	II. Valuation and Qualifying Accounts	F-1

        All other Schedules are omitted since the required information is not present or is not present in amounts sufficient to require submission of the schedule.

II-36

Item 8.    Financial Statements and Supplementary Data.

MANAGEMENT'S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING

        Management is responsible for establishing and maintaining adequate internal control over financial reporting and for the effectiveness of internal control over financial reporting, as such term is defined in Rule 13a-15(f) or Rule 15d-15(f) of the Exchange Act. Our internal control over financial reporting includes those policies and procedures that (a) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and disposition of assets; (b) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures are being made only in accordance with authorizations of management and the directors of the Company; and (c) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of the Company's assets that could have a material effect on the financial statements.

        Internal control over financial reporting is designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements prepared for external purposes in accordance with generally accepted accounting principles. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

        Management conducted an evaluation of the effectiveness of the Company's internal control over financial reporting as of December 31, 2013 based on the framework set forth in Internal Control—Integrated Framework (1992) issued by the Committee of Sponsoring Organizations of the Treadway Commission. Based on this evaluation, management concluded that the Company's internal control over financial reporting was effective as of December 31, 2013.

        The effectiveness of our internal control over financial reporting as of December 31, 2013 has been audited by PricewaterhouseCoopers LLP, an independent registered public accounting firm, as stated in their report which is included herein.

CBS CORPORATION
By:	/s/ LESLIE MOONVES Leslie Moonves President Chief Executive Officer
By:	/s/ JOSEPH R. IANNIELLO Joseph R. Ianniello Chief Operating Officer
By:	/s/ LAWRENCE LIDING Lawrence Liding Senior Vice President, Controller Chief Accounting Officer

II-37

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Board of Directors and Stockholders of CBS Corporation:

        In our opinion, the accompanying consolidated balance sheets and the related consolidated statements of operations, comprehensive income, cash flows, and stockholders' equity present fairly, in all material respects, the financial position of CBS Corporation and its subsidiaries at December 31, 2013 and 2012, and the results of their operations and their cash flows for each of the three years in the period ended December 31, 2013 in conformity with accounting principles generally accepted in the United States of America. In addition, in our opinion, the financial statement schedule listed in the index appearing under Item 15(a)(2) presents fairly, in all material respects, the information set forth therein when read in conjunction with the related consolidated financial statements. Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2013, based on criteria established in Internal Control—Integrated Framework (1992) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). The Company's management is responsible for these financial statements and financial statement schedule, for maintaining effective internal control over financial reporting and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Management's Report on Internal Control over Financial Reporting. Our responsibility is to express opinions on these financial statements, on the financial statement schedule, and on the Company's internal control over financial reporting based on our integrated audits. We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement and whether effective internal control over financial reporting was maintained in all material respects. Our audits of the financial statements included examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audits also included performing such other procedures as we considered necessary in the circumstances. We believe that our audits provide a reasonable basis for our opinions.

        A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company's assets that could have a material effect on the financial statements.

        Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

/s/ PRICEWATERHOUSECOOPERS LLP
PricewaterhouseCoopers LLP
New York, New York
February 14, 2014

II-38

CBS CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share amounts)

	Year Ended December 31,
	2013			2012			2011
Revenues	$	15,284		$	14,089		$	13,637
Expenses:
Operating		8,813			7,967			7,882
Selling, general and administrative		2,735			2,634			2,598
Restructuring charges (Note 4)		20			19			43
Impairment charges (Note 2)		—			11			—
Depreciation and amortization		457			475			495
Total expenses		12,025			11,106			11,018
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 (Note 8)		—			(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 (Note 3)		6			(60	)		(86	)
Net earnings	$	1,879		$	1,574		$	1,305
Basic net earnings (loss) per common share:
Net earnings from continuing operations	$	3.08		$	2.55		$	2.09
Net earnings (loss) from discontinued operations	$	.01		$	(.09	)	$	(.13	)
Net earnings	$	3.09		$	2.45		$	1.97
Diluted net earnings (loss) per common share:
Net earnings from continuing operations	$	3.00		$	2.48		$	2.04
Net earnings (loss) from discontinued operations	$	.01		$	(.09	)	$	(.13	)
Net earnings	$	3.01		$	2.39		$	1.92
Weighted average number of common shares outstanding:
Basic		608			642			664
Diluted		624			659			681
Dividends per common share	$	..48		$	..44		$	..35

See notes to consolidated financial statements.

II-39

CBS CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In millions)

	Year Ended December 31,
	2013			2012			2011
Net earnings	$	1,879		$	1,574		$	1,305
Other comprehensive income (loss) from continuing operations, net of tax:
Cumulative translation adjustments		(5	)		30			4
Net actuarial gain (loss) and prior service cost (Note 13)		213			(138	)		(145	)
Unrealized gain on securities		1			—			—
Other comprehensive income (loss) from continuing operations, net of tax		209			(108	)		(141	)
Other comprehensive loss from discontinued operations, before reclassifications		(7	)		(22	)		(12	)
Reclassifications from accumulated other comprehensive loss from discontinued operations to net earnings		(178	)		—			—
Total other comprehensive income (loss), net of tax		24			(130	)		(153	)
Total comprehensive income	$	1,903		$	1,444		$	1,152

See notes to consolidated financial statements.

II-40

CBS CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In millions, except per share amounts)

	At December 31,
	2013			2012
ASSETS
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		—			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
		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
LIABILITIES AND STOCKHOLDERS' EQUITY
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 payable		55			—
Commercial paper (Note 8)		475			—
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
Liabilities of discontinued operations		148			172
Commitments and contingencies (Note 14)
Stockholders' Equity:
Class A Common Stock, par value $.001 per share; 375 shares authorized; 39 (2013) and 43 (2012) shares issued		—			—
Class B Common Stock, par value $.001 per share; 5,000 shares authorized; 801 (2013) and 785 (2012) shares issued		1			1
Additional paid-in capital		43,474			43,424
Accumulated deficit		(24,890	)		(26,769	)
Accumulated other comprehensive loss (Note 1)		(545	)		(569	)
		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

See notes to consolidated financial statements.

II-41

CBS CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)

	Year Ended December 31,
	2013			2012			2011
Operating Activities:
Net earnings	$	1,879		$	1,574		$	1,305
Less: Net earnings (loss) from discontinued operations		6			(60	)		(86	)
Net earnings from continuing operations		1,873			1,634			1,391
Adjustments to reconcile net earnings from continuing operations to net cash flow provided by operating activities:
Depreciation and amortization		457			475			495
Impairment charges		—			11			—
Deferred tax provision		425			442			452
Stock-based compensation		229			153			139
Redemption of debt		—			(28	)		—
Net (gain) loss on disposition and write-down of assets		(30	)		—			12
Equity in loss of investee companies, net of tax and distributions		59			52			50
Amortization of deferred financing costs		10			12			13
Change in assets and liabilities, net of investing and financing activities
Increase in receivables		(739	)		(238	)		(10	)
Decrease (increase) in inventory and related program and participation liabilities, net		48			(414	)		(159	)
(Increase) decrease in other assets		(8	)		28			43
Decrease in accounts payable and accrued expenses		(142	)		(10	)		(107	)
Decrease in pension and postretirement benefit obligations		(189	)		(192	)		(381	)
Decrease in income taxes		(17	)		(81	)		(27	)
Increase (decrease) in deferred revenue		64			(17	)		(85	)
Other, net		4			(8	)		6
Net cash flow provided by operating activities from continuing operations		2,044			1,819			1,832
Net cash flow used for operating activities from discontinued operations		(171	)		(4	)		(83	)
Net cash flow provided by operating activities		1,873			1,815			1,749
Investing Activities:
Acquisitions, net of cash acquired		(32	)		(146	)		(75	)
Capital expenditures		(270	)		(254	)		(245	)
Investments in and advances to investee companies		(176	)		(91	)		(79	)
Proceeds from sale of investments		30			13			12
Proceeds from dispositions		193			49			18
Net cash flow used for investing activities from continuing operations		(255	)		(429	)		(369	)
Net cash flow used for investing activities from discontinued operations		(17	)		(22	)		(20	)
Net cash flow used for investing activities		(272	)		(451	)		(389	)
Financing Activities:
Proceeds from short-term debt borrowings, net		475			—			—
Proceeds from issuance of notes		—			1,566			—
Repayment of notes and debentures		—			(1,583	)		—
Payment of capital lease obligations		(17	)		(19	)		(19	)
Payment of contingent consideration		(30	)		(33	)		—
Dividends		(300	)		(276	)		(206	)
Purchase of Company common stock		(2,185	)		(1,137	)		(1,012	)
Payment of payroll taxes in lieu of issuing shares for stock-based compensation		(145	)		(105	)		(82	)
Proceeds from exercise of stock options		146			168			72
Excess tax benefit from stock-based compensation		148			103			72
Other financing activities		(4	)		—			(5	)
Net cash flow used for financing activities		(1,912	)		(1,316	)		(1,180	)
Net (decrease) increase in cash and cash equivalents		(311	)		48			180
Cash and cash equivalents at beginning of year		708			660			480
Cash and cash equivalents at end of year	$	397		$	708		$	660

See notes to consolidated financial statements.

II-42

CBS CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY
(In millions)

	Year Ended December 31,
	2013						2012						2011
	Shares			Amount			Shares			Amount			Shares			Amount
Class A Common Stock:
Balance, beginning of year		43		$	—			44		$	—			44		$	—
Conversion of A shares into B shares		(4	)		—			(1	)		—			—			—
Balance, end of year		39			—			43			—			44			—
Class B Common Stock:
Balance, beginning of year		785			1			769			1			757			1
Conversion of A shares into B shares		4			—			1			—			—			—
Issuance of stock for RSU vests		7			—			8			—			9			—
Exercise of stock options		8			—			10			—			7			—
Retirement of Treasury Stock		(3	)		—			(3	)		—			(4	)		—
Balance, end of year		801			1			785			1			769			1
Additional Paid-In Capital:
Balance, beginning of year					43,424						43,395						43,443
Stock-based compensation					187						147						135
Tax benefits related to employee stock-based transactions					159						104						64
Exercise of stock options					144						170						72
Retirement of Treasury Stock					(145	)					(105	)					(82	)
Dividends					(295	)					(287	)					(237	)
Balance, end of year					43,474						43,424						43,395
Accumulated Deficit:
Balance, beginning of year					(26,769	)					(28,343	)					(29,648	)
Net earnings					1,879						1,574						1,305
Balance, end of year					(24,890	)					(26,769	)					(28,343	)
Accumulated Other Comprehensive Loss:
Balance, beginning of year					(569	)					(439	)					(286	)
Other comprehensive income (loss)					24						(130	)					(153	)
Balance, end of year					(545	)					(569	)					(439	)
Treasury Stock, at cost:
Balance, beginning of year		198			(5,874	)		162			(4,706	)		120			(3,689	)
Class B Common Stock purchased		46			(2,201	)		36			(1,170	)		42			(1,019	)
Shares paid for tax withholding for stock-based compensation		3			(145	)		3			(105	)		4			(82	)
Issuance of stock for deferred compensation		—			1			—			2			—			2
Retirement of Treasury Stock		(3	)		145			(3	)		105			(4	)		82
Balance, end of year		244			(8,074	)		198			(5,874	)		162			(4,706	)
Total Stockholders' Equity				$	9,966					$	10,213					$	9,908

See notes to consolidated financial statements.

II-43

CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Tabular dollars in millions, except per share amounts)

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

II-44

CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

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

II-45

CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

$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

II-46

CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

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.

II-47

CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

        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.

II-48

CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

        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
	Cumulative Translation Adjustments			Net Actuarial Gain (Loss) and Prior Service Cost			Unrealized Gain on Securities		Other Comprehensive Income (Loss) (b)			Accumulated Other Comprehensive 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	)

(a)

See Note 13 for details of items reclassified from accumulated other comprehensive income (loss) to net earnings.

(b)

Primarily reflects cumulative translation adjustments.

(c)

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.

II-49

CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

        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.

II-50

CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

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

II-51

CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

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.

II-52

CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

        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 December 31, 2012			Acquisitions		Dispositions			Other (a)			Balance at December 31, 2013
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

(a)

Primarily includes foreign currency translation adjustments.

II-53

CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

	Balance at December 31, 2011			Acquisitions		Dispositions			Impairment			Other (a)		Balance at December 31, 2012
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

(a)

Primarily includes foreign currency translation adjustments.

        The Company's intangible assets were as follows:

At December 31, 2013	Gross		Accumulated 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

II-54

CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

At December 31, 2012	Gross		Accumulated 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

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	)

II-55

CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

        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.

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 December 31, 2012		2013 Charges		2013 Payments			Balance at December 31, 2013
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 December 31, 2011		2012 Charges		2012 Payments			Balance at December 31, 2012
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

II-56

CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

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

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.

II-57

CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

        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.

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.

II-58

CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

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.

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CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

        At December 31, 2013, the Company's scheduled maturities of long-term debt at face value, excluding capital leases, were as follows:

	2014		2015		2016		2017		2018		2019 and 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 Net Secured Leverage Ratio reflects the ratio of Outdoor Americas secured debt

II-60

CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

(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.

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

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CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

        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.

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

II-62

CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

        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.

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

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CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

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.

	RSUs and PSUs			Weighted Average Grant Date Fair Value
Non-vested at December 31, 2012		13,300,969		$	19.89
Granted		4,150,247			40.70
Vested		(7,355,952	)		16.32
Forfeited		(576,040	)		28.54
Non-vested at December 31, 2013		9,519,224		$	31.20

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	%		2.00%
Expected stock price volatility		34.86	%		39.09	%		41.17%
Risk-free interest rate		.97	%		.94	%		2.33%
Expected term of options (years)		5.00			5.02			5.06

II-64

CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

        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.

	Stock Options			Weighted Average Exercise Price
Outstanding at December 31, 2012		34,033,101		$	21.96
Granted		2,750,085			44.30
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

II-65

CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

        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
Range of Exercise Price	Number of Options		Remaining Contractual Life (Years)		Weighted Average Exercise Price		Number of Options		Weighted Average 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	$	13.80		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.

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.

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CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

        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.

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CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

        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

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

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.

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

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

        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

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

        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

Year Ended December 31, 2013	Pension Benefits			Postretirement 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

(a)

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.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

	Pension Benefits				Postretirement Benefits
	2013		2012		2013		2012
Weighted average assumptions used to determine benefit obligations at December 31:
Discount rate		4.9%		4.0%		4.5%		4.0%
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		4.0%		4.9%		4.0%		4.9%
Expected long-term return on plan assets		6.5%		6.6%		2.0%		2.0%
Rate of compensation increase		3.0%		3.0%		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%		8.0%
Projected health care cost trend rate for participants above age 65		7.5%		8.0%
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

        A one percentage point change in assumed health care cost trend rates would have the following effects:

	One Percentage Point Increase		One Percentage Point Decrease
Effect on total service and interest cost components	$	—	$	—
Effect on the accumulated postretirement benefit obligation	$	12	$	(11	)

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

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.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

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

(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 $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

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

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.

	Limited Partnerships			Mortgage- backed 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.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

        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.

			Pension Protection Act Zone Status (a)								Expiration Date of Collective- Bargaining Agreement
	Employer Identification Number/Pension Plan Number				Company Contributions
Pension Plan			2013	2012	2013		2012		2011
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	6/30/2017
Producer—Writers Guild of America		95-2216351-001	Green	Green		8		8		6	5/1/2014
Screen Actors Guild—Producers		95-2110997-001	Green	Green		7		6		6	6/30/2014
Motion Picture Industry		95-1810805-001	Green	Green		7		7		8	(d)
Other Plans						10		8		6
		Total contributions			$	44	$	40	$	37

(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 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.

(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, 2012.

(c)

The expiration dates range from June 30, 2014 through November 15, 2014.

(d)

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.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

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 and Talent		Purchase Obligations		Other Long-term 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.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

        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 Franchise Payments
	Capital		Operating
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

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

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

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

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.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

        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.

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

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

        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

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CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

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

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CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

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.

16) OTHER ITEMS, NET

        For all periods presented, "Other items, net" primarily consisted of foreign exchange gains and losses.

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

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CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

18) QUARTERLY FINANCIAL DATA (unaudited):

2013 (a)	First Quarter			Second Quarter			Third Quarter			Fourth 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	$	.75		$	.78		$	.78		$	.78		$	3.08
Net earnings	$	.71		$	.78		$	.82		$	.78		$	3.09
Diluted net earnings per common share:
Net earnings from continuing operations	$	.73		$	.76		$	.76		$	.76		$	3.00
Net earnings	$	.69		$	.76		$	.80		$	.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	$	..12		$	..12		$	..12		$	..12		$	..48

(a)

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.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

2012 (a)	First Quarter			Second Quarter			Third Quarter			Fourth 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	$	.61		$	.70		$	.60		$	.64		$	2.55
Net earnings	$	.56		$	.66		$	.61		$	.62		$	2.45
Diluted net earnings per common share:
Net earnings from continuing operations	$	.59		$	.68		$	.59		$	.62		$	2.48
Net earnings	$	.54		$	.65		$	.60		$	.60		$	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	$	..10		$	..10		$	..12		$	..12		$	..44

(a)

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.

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

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

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

	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

II-88

CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

	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

II-89

CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

	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

II-90

CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

	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

II-91

CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

	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

II-92

CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

	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

II-93

CBS CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Tabular dollars in millions, except per share amounts)

	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

II-94

Item 9.    Changes in and Disagreements With Accountants on Accounting and Financial Disclosure.

        None.

Item 9A.    Controls and Procedures.

        The Company's chief executive officer and chief financial officer have concluded that, as of the end of the period covered by this report, the Company's disclosure controls and procedures (as defined in Rule 13a-15(e) or 15d-15(e) of the Securities Exchange Act of 1934, as amended ("Exchange Act")) were effective, based on the evaluation of these controls and procedures required by Rule 13a-15(b) or 15d-15(b) of the Exchange Act. No change in the Company's internal control over financial reporting occurred during the Company's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Company's internal control over financial reporting.

        Management's Report on Internal Control Over Financial Reporting is incorporated herein by reference to Item 8 on page II-37 of this report.

Item 9B.    Other Information.

        None.

II-95

PART III

Item 10.    Directors, Executive Officers and Corporate Governance.

        The information required by this item with respect to the Company's directors is contained in the CBS Corporation Proxy Statement for the Company's 2014 Annual Meeting of Stockholders (the "Proxy Statement") under the headings "CBS Corporation's Board of Directors," "Item 1—Election of Directors," and "Section 16(a) Beneficial Ownership Reporting Compliance," which information is incorporated herein by reference.

        The information required by this item with respect to the Company's executive officers is (i) contained in the Proxy Statement under the headings "Corporate Governance" and "Section 16(a) Beneficial Ownership Reporting Compliance" and (ii) included in Part I of this Form 10-K under the caption "Executive Officers of the Company," which information is incorporated herein by reference.

Item 11.    Executive Compensation.

        The information required by this item is contained in the Proxy Statement under the headings "CBS Corporation's Board of Directors," "Director Compensation," "Executive Compensation," "Compensation Discussion and Analysis" and "Compensation Committee Report," which information is incorporated herein by reference.

Item 12.    Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.

        The information required by this item is contained in the Proxy Statement under the headings "Security Ownership of Certain Beneficial Owners and Management" and "Equity Compensation Plan Information," which information is incorporated herein by reference.

Item 13.    Certain Relationships and Related Transactions and Director Independence.

        The information required by this item is contained in the Proxy Statement under the headings "Related Person Transactions" and "CBS Corporation's Board of Directors," which information is incorporated herein by reference.

Item 14.    Principal Accounting Fees and Services.

        The information required by this item is contained in the Proxy Statement under the heading "Fees for Services Provided by the Independent Registered Public Accounting Firm," which information is incorporated herein by reference.

III-1

PART IV

Item 15.    Exhibits, Financial Statement Schedules.

(a)

1.

Financial Statements.

        The financial statements of the Company filed as part of this report on Form 10-K are listed on the Index on page II-36.

2.

Financial Statement Schedules.

        The financial statement schedule required to be filed by Item 8 of this Form 10-K is listed on the Index on page II-36.

3.

Exhibits.

        The exhibits listed in Item 15(b) of this Part IV are filed or incorporated by reference as part of this Form 10-K. The Index to Exhibits is on page E-1.

(b)

Exhibits.

        The exhibits listed in Item 15(b) of this Part IV are filed or incorporated by reference as part of this Form 10-K. The Index to Exhibits is on page E-1.

IV-1

SIGNATURES

        Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, CBS Corporation has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.

CBS CORPORATION
By:	/s/ LESLIE MOONVES Leslie Moonves President Chief Executive Officer

Date: February 14, 2014

        Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed by the following persons on behalf of CBS Corporation and in the capacities and on the dates indicated:

Signature	Title	Date
/s/ LESLIE MOONVES Leslie Moonves	President Chief Executive Officer Director (Principal Executive Officer)	February 14, 2014
/s/ JOSEPH R. IANNIELLO Joseph R. Ianniello	Chief Operating Officer (Principal Financial Officer)	February 14, 2014
/s/ LAWRENCE LIDING Lawrence Liding	Senior Vice President Controller Chief Accounting Officer (Principal Accounting Officer)	February 14, 2014
* David R. Andelman	Director	February 14, 2014
* Joseph A. Califano, Jr.	Director	February 14, 2014
* William S. Cohen	Director	February 14, 2014

IV-2

Signature		Title	Date
* Gary L. Countryman		Director	February 14, 2014
* Charles K. Gifford		Director	February 14, 2014
* Leonard Goldberg		Director	February 14, 2014
* Bruce S. Gordon		Director	February 14, 2014
* Linda M. Griego		Director	February 14, 2014
* Arnold Kopelson		Director	February 14, 2014
* Doug Morris		Director	February 14, 2014
* Shari Redstone		Director	February 14, 2014
* Sumner M. Redstone		Director	February 14, 2014
* Frederic V. Salerno		Director	February 14, 2014
*By:	/s/ LAWRENCE P. TU Lawrence P. Tu Attorney-in-Fact for Directors		February 14, 2014

IV-3

INDEX TO EXHIBITS
ITEM 15(b)

        Effective December 31, 2005, Former Viacom was renamed CBS Corporation.

Exhibit No.		Description of Document
(3)		Articles of Incorporation and Bylaws
	(a)	Amended and Restated Certificate of Incorporation of CBS Corporation effective December 31, 2005 (incorporated by reference to Exhibit 3(a) to the Annual Report on Form 10-K of CBS Corporation for the fiscal year ended December 31, 2005) (File No. 001-09553).
	(b)	Amended and Restated Bylaws of CBS Corporation effective November 1, 2007 (incorporated by reference to Exhibit 3(b) to the Quarterly Report on Form 10-Q of CBS Corporation for the quarter ended September 30, 2007) (File No. 001-09553).
(4)		Instruments defining the rights of security holders, including indentures
	(a)	Amended and Restated Senior Indenture dated as of November 3, 2008 ("2008 Indenture") between CBS Corporation, CBS Operations Inc., and The Bank of New York Mellon, as senior trustee (incorporated by reference to Exhibit 4.1 to the Registration Statement on Form S-3 filed by CBS Corporation on November 3, 2008 (Registration No. 333-154962) (File No. 001-09553).
	(b)	First Supplemental Indenture to 2008 Indenture dated as of April 5, 2010 between CBS Corporation, CBS Operations Inc., and Deutsche Bank Trust Company Americas, as senior trustee (incorporated by reference to Exhibit 4.3 to the Current Report on Form 8-K filed by CBS Corporation on April 5, 2010 (File No. 001-09553).
		The other instruments defining the rights of holders of the long-term debt securities of CBS Corporation and its subsidiaries are omitted pursuant to section (b)(4)(iii)(A) of Item 601 of Regulation S-K. CBS Corporation hereby agrees to furnish copies of these instruments to the Securities and Exchange Commission upon request.
(10)		Material Contracts
	(a)	CBS Corporation 2004 Long-Term Management Incentive Plan (as amended and restated through May 25, 2006) (incorporated by reference to Exhibit 10 to the Quarterly Report on Form 10-Q of CBS Corporation for the quarter ended June 30, 2006) (File No. 001-09553).*
	(b)	CBS Corporation 2009 Long-Term Incentive Plan (as amended and restated May 23, 2013) (incorporated by reference to Exhibit 10(c) to the Quarterly Report on Form 10-Q of CBS Corporation for the quarter ended June 30, 2013) (File No. 001-09553).*
	(c)	Forms of Certificate and Terms and Conditions for equity awards for:
		(i)	Stock Options (granted prior to 2010) (incorporated by reference to Exhibit 10(c)(i) to the Annual Report on Form 10-K of CBS Corporation for the fiscal year ended December 31, 2011) (File No. 001-09553).*
		(ii)	Stock Options (granted in 2010 and 2011 and thereafter) (incorporated by reference to Exhibit 10(c)(ii) to the Annual Report on Form 10-K of CBS Corporation for the fiscal year ended December 31, 2011) (File No. 001-09553).*

*Management contract or compensatory plan required to be filed as an exhibit to this form pursuant to Item 15(b).

E-1

Exhibit No.		Description of Document
		(iii)	Performance-Based Restricted Share Units with Time Vesting and Performance Schedule (granted in 2010 and 2011 and thereafter) (incorporated by reference to Exhibit 10(c)(v) to the Annual Report on Form 10-K of CBS Corporation for the fiscal year ended December 31, 2011) (File No. 001-09553).*
		(iv)	Restricted Share Units with Time Vesting (granted in 2010 and 2011 and thereafter) (incorporated by reference to Exhibit 10(c)(vii) to the Annual Report on Form 10-K of CBS Corporation for the fiscal year ended December 31, 2011) (File No. 001-09553).*
	(d)	CBS Corporation Senior Executive Short-Term Incentive Plan (as amended and restated as of December 31, 2005) (incorporated by reference to Exhibit 10(f) to the Annual Report on Form 10-K of CBS Corporation for the fiscal year ended December 31, 2005) (File No. 001-09553) (as amended by the First Amendment to the CBS Corporation Senior Executive Short-Term Incentive Plan effective January 1, 2009) (incorporated by reference to Exhibit 10(d) to the Annual Report on Form 10-K of CBS Corporation for the fiscal year ended December 31, 2008) (File No. 001-09553).*
	(e)	CBS Retirement Excess Pension Plan (as amended and restated as of December 31, 2005) (incorporated by reference to Exhibit 10(o) to the Annual Report on Form 10-K of CBS Corporation for the fiscal year ended December 31, 2005) (File No. 001-09553) (as Part A was amended by Amendment No. 1 as of January 1, 2009) (incorporated by reference to Exhibit 10(g) to the Annual Report on Form 10-K of CBS Corporation for the fiscal year ended December 31, 2010) (File No. 001-09553) (as amended by Part B, effective as of January 1, 2009, as amended and restated as of January 1, 2012) (incorporated by reference to Exhibit 10(e) to the Annual Report on Form 10-K of CBS Corporation for the fiscal year ended December 31, 2012) (File No. 001-09553).*
	(f)	CBS Excess 401(k) Plan for Designated Senior Executives (as amended and restated as of December 31, 2005) (incorporated by reference to Exhibit 10(p) to the Annual Report on Form 10-K of CBS Corporation for the fiscal year ended December 31, 2005) (File No. 001-09553) (as amended by Part B effective January 1, 2009) (incorporated by reference to Exhibit 10(f) to the Annual Report on Form 10-K of CBS Corporation for the fiscal year ended December 31, 2008) (File No. 001-09553) (as Part B was amended by Amendment No. 1 as of January 1, 2009) (incorporated by reference to Exhibit 10(b) to the Quarterly Report on Form 10-Q of CBS Corporation for the quarter ended March 31, 2010) (File No. 001-09553) (as Part B was amended by Amendment No. 2 as of January 1, 2009) (incorporated by reference to Exhibit 10(h) to the Annual Report on Form 10-K of CBS Corporation for the fiscal year ended December 31, 2010 (File No. 001-09553) (as Part A was amended by Amendment No. 1 as of January 1, 2014) (filed herewith) (as Part B was amended by Amendment No. 3 as of January 1, 2014) (filed herewith).*

*Management contract or compensatory plan required to be filed as an exhibit to this form pursuant to Item 15(b).

E-2

Exhibit No.		Description of Document
	(g)	CBS Bonus Deferral Plan for Designated Senior Executives (as amended and restated as of December 31, 2005) (incorporated by reference to Exhibit 10(q) to the Annual Report on Form 10-K of CBS Corporation for the fiscal year ended December 31, 2005) (File No. 001-09553) (as amended by Part B effective January 1, 2009) (incorporated by reference to Exhibit 10(g) to the Annual Report on Form 10-K of CBS Corporation for the fiscal year ended December 31, 2008) (File No. 001-09553) (as Part B was amended by Amendment No. 1 as of January 1, 2009) (incorporated by reference to Exhibit 10(c) to the Quarterly Report on Form 10-Q of CBS Corporation for the quarter ended March 31, 2010) (File No. 001-09553) (as Part B was amended by Amendment No. 2 as of January 1, 2009) (incorporated by reference to Exhibit 10(i) to the Annual Report on Form 10-K of CBS Corporation for the fiscal year ended December 31, 2010) (File No. 001-09553) (as Part A was amended by Amendment No. 1 as of January 1, 2014) (filed herewith) (as Part B was amended by Amendment No. 3 as of January 1, 2014) (filed herewith).*
	(h)	Summary of CBS Corporation Compensation for Outside Directors (filed herewith).*
	(i)	Form of Director Indemnification Agreement (incorporated by reference to Exhibit 10 to the Current Report on Form 8-K of CBS Corporation filed September 18, 2009) (File No. 001-09553).*
	(j)	Former Viacom Deferred Compensation Plan for Non-Employee Directors (as amended and restated as of October 14, 2003) (incorporated by reference to Exhibit 10(e) to the Annual Report on Form 10-K of Former Viacom for the fiscal year ended December 31, 2003) (File No. 001-09553).*
	(k)	CBS Corporation Deferred Compensation Plan for Outside Directors (as amended and restated as of December 31, 2005) (incorporated by reference to Exhibit 10(i) to the Annual Report on Form 10-K of CBS Corporation for the fiscal year ended December 31, 2005) (File No. 001-09553) (as amended by the First Amendment to the CBS Corporation Deferred Compensation Plan for Outside Directors, effective as of January 1, 2009) (incorporated by reference to Exhibit 10(j) to the Annual Report on Form 10-K of CBS Corporation for the fiscal year ended December 31, 2008) (File No. 001-09553).*
	(l)	CBS Corporation 2000 Stock Option Plan for Outside Directors (as amended and restated through January 29, 2014) (filed herewith).*
	(m)	CBS Corporation 2005 RSU Plan for Outside Directors (as amended and restated through January 29, 2014) (filed herewith).*
	(n)	Employment Agreement dated December 29, 2005 between CBS Corporation and Sumner M. Redstone (incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K of Former Viacom filed December 30, 2005) (File No. 001-09553), as amended by a Letter Agreement dated March 13, 2007 (incorporated by reference to Exhibit 10 to the Current Report on Form 8-K of CBS Corporation filed March 16, 2007) (File No. 001-09553), as amended by a 409A Letter Agreement dated December 10, 2008 (incorporated by reference to Exhibit 10(m) to the Annual Report on Form 10-K of CBS Corporation for the fiscal year ended December 31, 2008) (File No. 001-09553).*

*Management contract or compensatory plan required to be filed as an exhibit to this form pursuant to Item 15(b).

E-3

Exhibit No.		Description of Document
	(o)	Employment Agreement dated October 15, 2012 between CBS Corporation and Leslie Moonves (incorporated by reference to Exhibit 10 to the Quarterly Report on Form 10-Q of CBS Corporation for the quarter ended September 30, 2012) (File No. 001-09553).*
	(p)	Letter Agreement dated May 2, 2012 between CBS Corporation and Leslie Moonves (incorporated by reference to Exhibit 10 to the Quarterly Report on Form 10-Q of CBS Corporation for the quarter ended June 30, 2012) (File No. 001-09553).* Certain portions of this exhibit have been omitted pursuant to a confidential treatment order granted by the Securities and Exchange Commission.
	(q)	Employment Agreement dated as of October 1, 2011 between CBS Corporation and Louis J. Briskman (incorporated by reference to Exhibit 10 to the Current Report on Form 8-K of CBS Corporation filed October 7, 2011) (File No. 001-09553).*
	(r)	Employment Agreement dated as of June 4, 2013 between CBS Corporation and Joseph R. Ianniello (incorporated by reference to Exhibit 10(a) to the Quarterly Report on Form 10-Q of CBS Corporation for the quarter ended June 30, 2013) (File No. 001-09553).*
	(s)	Employment Agreement dated as of June 7, 2013 between CBS Corporation and Anthony G. Ambrosio (incorporated by reference to Exhibit 10(b) to the Quarterly Report on Form 10-Q of CBS Corporation for the quarter ended June 30, 2013) (File No. 001-09553).*
	(t)	CBS Corporation plans assumed by Former Viacom after the merger with former CBS Corporation, consisting of the following:
		(i)	CBS Supplemental Executive Retirement Plan (as amended as of April 1, 1999) (incorporated by reference to Exhibit 10(h) to the Quarterly Report on Form 10-Q of CBS for the quarter ended September 30, 1999) (File No. 001-00977) (as amended by Part B, effective as of January 1, 2009, as amended and restated as of January 1, 2012) (incorporated by reference to Exhibit 10(t)(i) to the Annual Report on Form 10-K of CBS Corporation for the fiscal year ended December 31, 2012) (File No. 001-09553).*
		(ii)	CBS Bonus Supplemental Executive Retirement Plan (as amended as of April 1, 1999) (incorporated by reference to Exhibit 10(i) to the Quarterly Report on Form 10-Q of CBS for the quarter ended September 30, 1999) (File No. 001-00977) (as amended by Part B, effective as of January 1, 2009, as amended and restated as of January 1, 2012) (incorporated by reference to Exhibit 10(t)(ii) to the Annual Report on Form 10-K of CBS Corporation for the fiscal year ended December 31, 2012) (File No. 001-09553).*
		(iii)	CBS Supplemental Employee Investment Fund (as amended as of January 1, 1998) (incorporated by reference to Exhibit 10(j) to the Quarterly Report on Form 10-Q of CBS for the quarter ended September 30, 1999) (File No. 001-00977).*
		(iv)	Agreement dated March 2, 1999 between former CBS Corporation and Louis J. Briskman (incorporated by reference to Exhibit 10(r) to the Quarterly Report on Form 10-Q of CBS for the quarter ended March 31, 1999) (File No. 001-00977).*

*Management contract or compensatory plan required to be filed as an exhibit to this form pursuant to Item 15(b).

E-4

Exhibit No.		Description of Document
		(v)	Westinghouse Executive Pension Plan (as amended and restated as of December 31, 2005) (incorporated by reference to Exhibit 10(w)(x) to the Annual Report on Form 10-K of CBS Corporation for the fiscal year ended December 31, 2005) (File No. 001-09553) (as amended by Part B, effective as of January 1, 2009, as amended and restated as of January 1, 2012) (incorporated by reference to Exhibit 10(t)(v) to the Annual Report on Form 10-K of CBS Corporation for the fiscal year ended December 31, 2012) (File No. 001-09553).*
	(u)	CBS Corporation Matching Gifts Program for Directors (incorporated by reference to Exhibit 10(t) to the Annual Report on Form 10-K of CBS Corporation for the fiscal year ended December 31, 2008) (File No. 001-09553).*
	(v)	Amended and Restated $2.0 Billion Credit Agreement, dated as of March 18, 2013, among CBS Corporation; CBS Operations Inc.; the Subsidiary Borrowers Parties thereto; the Lenders named therein; JPMorgan Chase Bank, N.A., as Administrative Agent; Citibank, N.A., as Syndication Agent; and Bank of America, N.A., Deutsche Bank AG Securities Inc., Morgan Stanley MUFG Loan Partners, LLC, The Royal Bank of Scotland plc, UBS Loan Finance LLC, and Wells Fargo Bank, N.A., as Co-Documentation Agents (incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K of CBS Corporation filed March 21, 2013) (File No. 001-09553).
	(w)	Separation Agreement dated as of December 19, 2005 by and between Former Viacom and New Viacom Corp. (incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K of Former Viacom filed December 21, 2005) (File No. 001-09553).
	(x)	Tax Matters Agreement dated as of December 30, 2005 by and between Former Viacom and New Viacom Corp. (incorporated by reference to Exhibit 10.1 to the Current Report on Form 8-K of CBS Corporation filed January 5, 2006) (File No. 001-09553).
(12)		Statement re Computations of Ratios (filed herewith).
(21)		Subsidiaries of CBS Corporation (filed herewith).
(23)		Consents of Experts and Counsel
	(a)	Consent of PricewaterhouseCoopers LLP (filed herewith).
(24)		Powers of Attorney (filed herewith).
(31)		Rule 13a-14(a)/15d-14(a) Certifications
	(a)	Certification of the Chief Executive Officer of CBS Corporation pursuant to Rule 13a-14(a) or 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith).
	(b)	Certification of the Chief Financial Officer of CBS Corporation pursuant to Rule 13a-14(a) or 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith).

*Management contract or compensatory plan required to be filed as an exhibit to this form pursuant to Item 15(b).

E-5

Exhibit No.		Description of Document
(32)		Section 1350 Certifications
	(a)	Certification of the Chief Executive Officer of CBS Corporation furnished pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (furnished herewith).
	(b)	Certification of the Chief Financial Officer of CBS Corporation furnished pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (furnished herewith).
(101)		101. INS XBRL Instance Document. 101. SCH XBRL Taxonomy Extension Schema. 101. CAL XBRL Taxonomy Extension Calculation Linkbase. 101. DEF XBRL Taxonomy Extension Definition Linkbase. 101. LAB XBRL Taxonomy Extension Label Linkbase. 101. PRE XBRL Taxonomy Extension Presentation Linkbase.

E-6

CBS CORPORATION AND SUBSIDIARIES

SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS
(Tabular dollars in millions)

Col. A	Col. B		Col. C							Col. D		Col. E
Description	Balance at Beginning of Period		Balance Acquired through Acquisitions		Charged to Costs and Expenses			Charged to Other Accounts (a)		Deductions		Balance at End of 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

(a)

Primarily reflects reclasses from other balance sheet accounts.

(b)

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.

F-1

EX-10.(F)

Exhibit 10(f)

AMENDMENT NO. 1 TO THE CBS EXCESS 401(K) PLAN

FOR DESIGNATED SENIOR EXECUTIVES

PART A – AMENDMENT AND RESTATEMENT AS OF DECEMBER 31, 2005

Except as otherwise noted herein, the following amendments shall be effective as of January 1, 2014.

1.    Section 2.12 of the CBS Excess 401(k) Plan for Designated Senior Executives – Part A (the “Plan”) is hereby amended by adding at the beginning thereof the words “Prior to January 1, 2014,” by removing the initial capitalization of the word “The” and by adding the following at the end thereof:

“and effective as of January 1, 2014, means the notional investment options selected by the Committee in its sole discretion.”

2.    Section 5.3(a) of the Plan is hereby amended by adding at the beginning thereof the words “Prior to January 1, 2014,” by removing the initial capitalization of the word “All”, by deleting the words “will be” and inserting in place thereof the word “were” and by adding at the end thereof following new paragraph:

“Effective as of January 1, 2014, a Participant may select from a list of notional Investment Options how the balance of his or her Account will be invested.  If no selection is made, the Participant’s Account will be notionally invested in the “qualified default investment alternative” (within the meaning of the CBS 401(k) Plan) in effect from time to time.  Earnings and losses received on the Participant’s notional investments will be credited to the Participant’s Account in the manner designated by the Committee.  The Committee shall develop such procedures as it, in its discretion, deems advisable with respect to the selection of notional investments by Participants and the reflection of value attributable to such notional investments in their Accounts, including, without limitation, procedures which restrict a Participant’s ability to notionally invest in certain Investment Options.”

AMENDMENT NO. 3 TO THE CBS EXCESS 401(K) PLAN

FOR DESIGNATED SENIOR EXECUTIVES

PART B – AMENDMENT AND RESTATEMENT AS OF JANUARY 1, 2009

Except as otherwise noted herein, the following amendments shall be effective as of January 1, 2014.

1.    Section 2.19 of the CBS Excess 401(k) Plan for Designated Senior Executives – Part B (the “Plan”) is hereby amended by adding at the beginning thereof the words “Prior to January 1, 2014,” by removing the initial capitalization of the word “The” and by adding the following at the end thereof:

“and effective as of January 1, 2014, means the notional investment options selected by the Committee in its sole discretion.”

2.    Section 6.2(a) of the Plan is hereby amended by adding at the beginning thereof the words “Prior to January 1, 2014,” by removing the initial capitalization of the word “All”, by deleting the words “will be” and inserting in place thereof the word “were” and by adding at the end thereof the following new paragraph:

“Effective as of January 1, 2014, a Participant may select from a list of notional Investment Options how the balance of his or her Account will be invested.  If no selection is made, the Participant’s Account will be notionally invested in the “qualified default investment alternative” (within the meaning of the CBS 401(k) Plan) in effect from time to time.  Earnings and losses received on the Participant’s notional investments will be credited to the Participant’s Account in the manner designated by the Committee.  The Committee shall develop such procedures as it, in its discretion, deems advisable with respect to the selection of notional investments by Participants and the reflection of value attributable to such notional investments in their Accounts, including, without limitation, procedures which restrict a Participant’s ability to notionally invest in certain Investment Options.”

2

EX-10.(G)

Exhibit 10(g)

AMENDMENT NO. 1 TO THE CBS BONUS DEFERRAL PLAN

FOR DESIGNATED SENIOR EXECUTIVES

PART A – AMENDMENT AND RESTATEMENT AS OF DECEMBER 31, 2005

Except as otherwise noted herein, the following amendments shall be effective as of January 1, 2014.

1.    Section 2.10 of the CBS Bonus Deferral Plan for Designated Senior Executives – Part A (the “Plan”) is hereby amended by adding at the beginning thereof the words “Prior to January 1, 2014,” by removing the initial capitalization of the word “The” and by adding the following at the end thereof:

“and effective as of January 1, 2014, means the notional investment options selected by the Committee in its sole discretion.”

2.    Section 4.3(a) of the Plan is hereby amended by adding at the beginning thereof the words “Prior to January 1, 2014,” by removing the initial capitalization of the word “All”, by deleting the words “will be” and inserting in place thereof the word “were” and by adding at the end thereof the following new paragraph:

“Effective as of January 1, 2014, a Participant may select from a list of notional Investment Options how the balance of his or her Account will be invested.  If no selection is made, the Participant’s Account will be notionally invested in the “qualified default investment alternative” (within the meaning of the CBS 401(k) Plan) in effect from time to time.  Earnings and losses received on the Participant’s notional investments will be credited to the Participant’s Account in the manner designated by the Committee.  The Committee shall develop such procedures as it, in its discretion, deems advisable with respect to the selection of notional investments by Participants and the reflection of value attributable to such notional investments in their Accounts, including, without limitation, procedures which restrict a Participant’s ability to notionally invest in certain Investment Options.”

3.   Section 8 of the Plan is hereby amended by adding at the beginning thereof the words “Prior to January 1, 2014,” by deleting the words “will automatically be” and inserting in place thereof the words “were automatically”, and by adding at the end the following new paragraph:

“Effective as of January 1, 2014, a Participant’s beneficiary designation for the Plan will be a separate written designation in a form acceptable to the Committee that has been properly filed with the Committee and recorded in the Company’s records.  If no such beneficiary designation has been made under the Plan, then a Participant’s beneficiary designation for the Plan shall be the same as the Participant’s beneficiary designation recognized under the CBS Excess 401(k) Plan.  If no such beneficiary designation has been made under the CBS Excess 401(k) Plan, then a Participant’s beneficiary designation for the Plan shall be the same as the Participant’s beneficiary designation recognized under the CBS 401(k) Plan.”

AMENDMENT NO. 3 TO THE CBS BONUS DEFERRAL PLAN

FOR DESIGNATED SENIOR EXECUTIVES

PART B – AMENDMENT AND RESTATEMENT AS OF JANUARY 1, 2009

Except as otherwise noted herein, the following amendments shall be effective as of January 1, 2014.

1.    Section 2.17 of the CBS Bonus Deferral Plan for Designated Senior Executives – Part B (the “Plan”) is hereby amended by adding at the beginning thereof the words “Prior to January 1, 2014,” by removing the initial capitalization of the word “The” and by adding the following at the end thereof:

“and effective as of January 1, 2014, means the notional investment options selected by the Committee in its sole discretion.”

2.    Section 4.2(a) of the Plan is hereby amended by adding at the beginning thereof the words “Prior to January 1, 2014,” by removing the initial capitalization of the word “Amounts”, by deleting the words “will be” and inserting in place thereof the word “were” and by adding at the end thereof following new paragraph:

“Effective as of January 1, 2014, a Participant may select from a list of notional Investment Options how the balance of his or her Account will be invested.  If no selection is made, the Participant’s Account will be notionally invested in the “qualified default investment alternative” (within the meaning of the CBS 401(k) Plan) in effect from time to time.  Earnings and losses received on the Participant’s notional investments will be credited to the Participant’s Account in the manner designated by the Committee.  The Committee shall develop such procedures as it, in its discretion, deems advisable with respect to the selection of notional investments by Participants and the reflection of value attributable to such notional investments in their Accounts, including, without limitation, procedures which restrict a Participant’s ability to notionally invest in certain Investment Options.”

2

EX-10.(H)

Exhibit 10(h)

Summary of CBS Corporation Compensation for Outside Directors

(Effective January 29, 2014)

Directors of CBS Corporation (the “Company”) who are not employees of the Company or any of its subsidiaries (the “Outside Directors”) receive compensation for their service as follows:

CASH COMPENSATION

·An annual Board retainer of $100,000, payable in equal installments quarterly in advance; and

·The Chairs of the Audit, Compensation and Nominating and Governance Committees each receive an annual retainer of $20,000, payable in equal installments quarterly in advance, and the members of those committees receive a per meeting attendance fee of $2,000.

Outside Directors may elect to defer their cash compensation under the CBS Deferred Compensation Plan for Outside Directors, or any successor plan.

EQUITY COMPENSATION

Restricted Share Units (RSUs):

·an annual grant of RSUs on each February 15th, equal to $200,000 in value based on the closing price of the Company’s Class B common stock on the New York Stock Exchange (“NYSE”) on the date of grant, which RSUs vest one year from the date of grant; and

·prorated RSU grants for Outside Directors who join the Board following the date of the annual RSU grant, but during the calendar year of the grant. Such grants will be made 5 business days following the date such Outside Director joins the Board, and will be determined by multiplying the number of months remaining in such calendar year from the date the Outside Director joins the Board (counting the month of joining as a full month), by the value of the annual RSU grant for that calendar year divided by 12, divided by the closing price of the Company’s Class B common stock on the NYSE on the date of grant.  Prorated RSU grants vest on the first anniversary of the date of grant of the annual RSU grant that was awarded during the calendar year in which the Outside Director received such prorated RSU grant.

RSUs are payable to Outside Directors in shares of the Company’s Class B common stock upon vesting unless the Outside Director elects to defer settlement of the RSUs to a future date.  Outside Directors are entitled to receive dividend equivalents on the RSUs in the event the Company pays a regular cash dividend on its Class B common stock.  Dividend equivalents will accrue on the RSUs (including deferred RSUs) in accordance with the RSU Plan for Outside Directors until the RSUs are settled.

OTHER

Expenses:

Outside Directors are reimbursed for expenses incurred in attending Board, committee and stockholder meetings (including travel and lodging) in accordance with the Company’s normal travel policies.

Matching Gifts Program for Directors:

All Directors, including Directors who are Employees, are eligible to participate in the Company’s Matching Gifts Program for Directors. Under the program, the Company matches donations made by a Director to eligible tax-exempt organizations at the rate of one dollar for each dollar donated up to $7,500 for each fiscal year. The purpose of the program is to recognize the interest of the Company and its Directors in supporting eligible organizations.

EX-10.(L)

Exhibit 10(l)

CBS CORPORATION

2000 STOCK OPTION PLAN FOR OUTSIDE DIRECTORS

(as amended and restated through January 29, 2014)

ARTICLE I

GENERAL

Section 1.1    Purpose.

The purpose of the CBS Corporation 2000 Stock Option Plan for Outside Directors, as amended from time to time (the “Plan”), is to benefit and advance the interests of CBS Corporation, a Delaware corporation (the “Company”), and its subsidiaries by obtaining and retaining the services of qualified persons who are not employees of the Company or its subsidiaries to serve as directors and to induce them to make a maximum contribution to the success of the Company and its subsidiaries. The Plan replaces the former Viacom Inc. Stock Option Plan for Outside Directors and the former Viacom Inc. 1994 Stock Option Plan for Outside Directors (the “Predecessor Plans”). From and after the Effective Date of the Plan as provided in Article VI below, no further awards shall be made under the Predecessor Plans.

Section 1.2    Definitions.

As used in the Plan, the following terms shall have the following meanings:

(a)         “Agreement” shall mean the written agreement and/or certificate or other documentation governing Stock Options granted under the Plan, which shall contain terms and conditions not inconsistent with the Plan and which shall incorporate the Plan by reference.

(b)         “Annual Grant” shall have the meaning set forth in Section 2.1.

(c)          “Board” shall mean the Board of Directors of the Company.

(d)         “Class B Common Stock” shall mean the shares of Class B Common Stock, par value $0.001 per share, of the Company.

(e)         “Company” shall have the meaning set forth in Section 1.1.

(f)          “Date of Grant” shall have the meaning set forth in Section 2.1.

(g)         “Effective Date” shall mean the effective date of the Plan provided for in Article VI below.

(h)         “Fair Market Value” of a share of Class B Common Stock on a given date shall mean, unless otherwise determined by the Board, the closing price on such date on the New York Stock Exchange or other principal stock exchange on which the Class B Common Stock is then listed, as reported by The Wall Street Journal (Northeast edition) as the 4:00 p.m. (New York time) closing price or as reported by any other authoritative source selected by the Company.

(i)          “Initial Grant” shall have the meaning set forth in Section 2.1.

(j)          “Outside Director” shall mean any member of the Board who is not an employee of the Company or any of its Subsidiaries.

(k)         “Participant” shall mean any Outside Director to whom Stock Options have been granted under the Plan.

(l)          “Plan” shall have the meaning set forth in Section 1.1.

(m)        “Predecessor Plans” shall have the meaning set forth in Section 1.1.

(n)         “RSU Plan” shall mean the CBS Corporation 2005 RSU Plan for Outside Directors, as amended from time to time.

(o)         “Separation” shall mean the separation of former Viacom Inc. into two publicly-traded companies, CBS Corporation and new Viacom Inc., which was completed on December 31, 2005.

(p)         “Stock Option” shall mean a contractual right granted to a Participant under the Plan to purchase shares of Class B Common Stock or other securities at such time and price, and subject to the terms and conditions, as are set forth in the Plan.

(q)         “Subsidiary” shall mean a corporation (or a partnership or other enterprise) in which the Company owns or controls, directly or indirectly, more than 50% of the outstanding shares of stock normally entitled to vote for the election of directors (or comparable equity participation and voting power).

Section 1.3    Administration of the Plan.

The Plan shall be administered by the members of the Board who are not Outside Directors, and such Board members shall determine all questions of interpretation, administration and application of the Plan. Such Board members’ determinations shall be final and binding in all matters relating to the Plan. The Board may authorize any officer of the Company to execute and deliver an Agreement on behalf of the Company to a Participant.

2

Section 1.4    Eligible Persons.

Stock Options shall be granted only to Outside Directors.

Section 1.5    Class B Common Stock Subject to the Plan.

Subject to adjustment in accordance with the provisions of Article III hereof, the maximum number of shares of Class B Common Stock available for Stock Options granted under the Plan on or after January 1, 2009, when aggregated with the number of shares of Class B Common Stock available for awards made under the RSU Plan on or after January 1, 2009, shall be 1,681,995 shares plus any shares that are available to be regranted pursuant to the last sentence of this Section 1.5. The shares of Class B Common Stock shall be made available from authorized but unissued shares of Class B Common Stock or from shares of Class B Common Stock issued and held in the treasury of the Company. The exercise of Stock Options in any manner shall result in a decrease in the number of shares of Class B Common Stock which thereafter may be issued for purposes of this Section 1.5 by the number of shares as to which the Stock Options are exercised. Shares of Class B Common Stock with respect to which Stock Options expire or are cancelled without being exercised or are otherwise terminated, may be regranted under the Plan.

ARTICLE II

PROVISIONS APPLICABLE TO STOCK OPTIONS

Section 2.1    Grants of Stock Options.

Each person who is elected as or who becomes an Outside Director, in each case for the first time on or subsequent to the Effective Date through January 29, 2014, shall be granted Stock Options to purchase 12,734 shares of Class B Common Stock (10,000 shares of Class B Common Stock prior to adjustments made in connection with the Separation) (an “Initial Grant”), on the date of such individual’s election or appointment to the Board or on the date such person first becomes an Outside Director, as appropriate (the “Date of Grant” of such Stock Options).  Each person who is an Outside Director on August 1, 2000, January 31, 2001 and each January 31st thereafter through and including January 31, 2011 (each, the “Date of Grant” of the respective Stock Options) shall be granted additional Stock Options to purchase the following number of shares of Class B Common Stock (each, an “Annual Grant”): (i) Annual Grants awarded before May 21, 2003 shall be for 3,000 shares of Class B Common Stock; (ii) Annual Grants awarded after May 21, 2003 and before January 1, 2006 shall be for 4,000 shares of Class B Common Stock; and (iii) Annual Grants awarded after January 1, 2006 through January 31, 2011 shall be for 5,093 shares of Class B Common Stock (4,000 shares of Class B Common Stock prior to adjustments made in connection with the Separation). Each Initial Grant and each Annual Grant shall be subject to the terms and conditions set forth in the Plan and shall have an option price per share equal to the Fair Market Value of a share of Class B Common Stock on the Date of Grant or, if the Date of Grant is not a

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business day on which the Fair Market Value can be determined, on the last business day preceding the Date of Grant on which the Fair Market Value can be determined. All Stock Options granted under the Plan shall be “Non-Qualified Stock Options” which are not intended to meet the requirements of Section 422 of the Internal Revenue Code of 1986, as amended. The terms and conditions of the Stock Options shall be set forth in an option certificate which shall be delivered to the Participant reasonably promptly following the Date of Grant of such Stock Options.

Section 2.2    Exercise of Stock Options.

(a)    Exercisability.    Stock Options shall be exercisable only to the extent the Participant is vested therein. Subject to Section 2.2(c), each Initial Grant of Stock Options under the Plan shall vest and become exercisable on the first anniversary of the Date of Grant. Subject to Section 2.2(c), each Annual Grant shall vest and become exercisable as follows: (i) for Annual Grants awarded before May 21, 2003, on the first anniversary of the Date of Grant; and (ii) for Annual Grants awarded after May 21, 2003, in three equal annual installments, on the first, second and third anniversaries of the Date of Grant.

(b)    Option Period.

(i)    Latest Exercise Date.    No Stock Option granted under the Plan shall be exercisable after the tenth anniversary of the Date of Grant thereof.

(ii)    Registration Restrictions.    Any attempt to exercise a Stock Option or to transfer any shares issued upon exercise of a Stock Option by any Participant shall be void and of no effect, unless and until (A) a registration statement under the Securities Act of 1933, as amended, has been duly filed and declared effective pertaining to the shares of Class B Common Stock subject to such Stock Option, and the shares of Class B Common Stock subject to such Stock Option have been duly qualified under applicable federal or state securities or blue sky laws or (B) the Board, in its sole discretion, determines, or the Participant desiring to exercise such Stock Options, upon the request of the Board, provides an opinion of counsel satisfactory to the Board, that such registration or qualification is not required as a result of the availability of any exemption from registration or qualification under such laws. Without limiting the foregoing, if at any time the Board shall determine, in its sole discretion, that the listing, registration or qualification of the shares of Class B Common Stock under any federal or state law or on any securities exchange or the consent or approval of any governmental regulatory body is necessary or desirable as a condition of, or in connection with, delivery or purchase of such shares pursuant to the exercise of a Stock Option, such Stock Option shall not be exercisable in whole or in part unless and until such listing, registration, qualification, consent or approval shall have been effected or obtained free of any conditions not acceptable to the Board.

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(c)    Exercise in the Event of Termination of Services.

(i)    Termination other than for Death or Disability.    If the services of a Participant as a director of the Company terminate for any reason other than for death or disability, the Participant may exercise his or her Stock Options until the first anniversary of the date of such termination, but only to the extent such Stock Options were vested on the termination date, subject to earlier expiration of such Stock Options pursuant to Section 2.2(b)(i). Upon a termination described in this Section 2.2(c)(i), the Participant shall relinquish all rights with respect to Stock Options that are not vested as of such termination date.

(ii)    Death.    If a Participant dies while serving as a director, his or her Stock Options may be exercised by any person who acquired the right to exercise such Stock Options by will or the laws of descent and distribution until the first anniversary of the date of death, but only to the extent such Stock Options were vested on the date of death, subject to earlier expiration of such Stock Options pursuant to Section 2.2(b)(i). All rights with respect to Stock Options that are not vested as of the date of death will terminate on such date of death.

(iii)    Permanent Disability.    If the services of Participant as a director of the Company terminate by reason of permanent disability, the Participant may exercise his or her Stock Options until the first anniversary of the date of such termination, but only to the extent such Stock Options were vested on the termination date, subject to earlier expiration of such Stock Options pursuant to Section 2.2(b)(i). Upon a termination described in this Section 2.2(c)(iii), the Participant shall relinquish all rights with respect to Stock Options that are not vested as of such termination date.

(d)    Payment of Purchase Price Upon Exercise.    Every share of Class B Common Stock purchased through the exercise of a Stock Option shall be paid for in full in cash on or before the settlement date for such share of Class B Common Stock. Cash payment of the exercise price includes payment by personal bank check, certified check or official bank check or, unless prohibited by the Board, a “cashless exercise” procedure involving a broker or dealer through whom a Participant sells immediately some or all of the shares underlying the exercised portion of a Stock Option in order to generate sufficient cash to pay the exercise price of the Option. In addition, the Participant shall make an arrangement acceptable to the Company to pay to the Company an amount sufficient to satisfy the combined federal, state and local withholding tax obligations, if any, which arise in connection with exercise of Stock Options.

ARTICLE III

EFFECT OF CERTAIN CORPORATE CHANGES

In the event of any merger, consolidation, stock-split, dividend (other than a regular cash dividend), distribution, combination, recapitalization, reclassification, reorganization, split-off or spin-off that changes the character or amount of the shares of

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Class B Common Stock or any other changes in the corporate structure, equity securities or capital structure of the Company, the Board shall make such proportionate adjustments to (i) the number and kind of securities subject to any Stock Options, (ii) the exercise price of any Stock Options, (iii) the number and kind of securities subject to the Initial Grants and the Annual Grants referred to in Section 2.1, and (iv) the maximum number and kind of securities available for issuance under the Plan referred to in Section 1.5, in each case, as it deems appropriate. The Board may, in its sole discretion, also make such other adjustments as it deems appropriate in order to preserve, but not increase, the benefits or potential benefits intended to be made available hereunder upon the occurrence of any of the foregoing events. The Board’s determination as to what, if any, adjustments shall be made shall be final and binding on the Company and all Participants. Adjustments under this Article shall be conducted in a manner consistent with any adjustments under the RSU Plan.

ARTICLE IV

MISCELLANEOUS

Section 4.1    No Right to Re-election.

Nothing in the Plan shall be deemed to create any obligation on the part of the Board to nominate any of its members for re-election by the Company’s stockholders, nor confer upon any Participant the right to remain a member of the Board for any period of time, or at any particular rate of compensation.

Section 4.2    Restriction on Transfer.

The rights of a Participant with respect to the Stock Options shall not be transferable by the Participant to whom such Stock Options are granted, except (i) by will or the laws of descent and distribution, (ii) upon prior notice to the Company, for transfers to members of the Participant’s immediate family or trusts whose beneficiaries are members of the Participant’s immediate family, provided that such transfer is being made for estate and/or tax planning purposes without consideration being received therefor, (iii) upon prior notice to the Company, for transfers to a former spouse incident to a divorce or (iv) for such other transfers as the Board may approve, subject to any conditions and limitations that it may, in its sole discretion, impose.

Section 4.3    Stockholder Rights.

No grant of Stock Options under the Plan shall entitle a Participant, a Participant’s estate or a permitted transferee to any rights of a holder of shares of Class B Common Stock, except upon the delivery of the shares resulting from exercise to a Participant, the Participant’s estate or the permitted transferee upon exercise of a Stock Option.

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Section 4.4    No Restriction on Right of Company to Effect Corporate Changes.

The Plan shall not affect in any way the right or power of the Company or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business, or any merger or consolidation of the Company, or any issue of stock or of options, warrants or rights to purchase stock or of bonds, debentures, preferred or prior preference stocks whose rights are superior to or affect the shares of Class B Common Stock or the rights thereof or which are convertible into or exchangeable for shares of Class B Common Stock, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise.

Section 4.5    Exercise Periods Following Termination of Services.

For the purposes of determining the dates on which Stock Options may be exercised following a termination of services or the death or disability of a Participant, the day following the date of such event shall be the first day of the exercise period and the Stock Options may be exercised up to and including the last business day falling within the exercise period. Thus, if the last day of the exercise period is not a business day, then the last date the Stock Options may be exercised is the last business day preceding the end of the exercise period. At the end of the relevant exercise period, each unexercised Stock Option shall expire.

Section 4.6    Headings.

The headings of articles and sections herein are included solely for convenience of reference and shall not affect the meaning of any of the provisions of the Plan.

Section 4.7    Governing Law.

The Plan and all rights hereunder shall be construed in accordance with and governed by the laws of the State of Delaware.

ARTICLE V

AMENDMENT AND TERMINATION

The Board may at any time and from time to time alter, amend, suspend or terminate the Plan in whole or in part, including, without limitation, amending the provisions for determining the amount of Stock Options to be issued to an Outside Director, provided, however, that any amendment which under the requirements of applicable law or under the rules of the New York Stock Exchange or other principal stock exchange on which the shares of Class B Common Stock are then listed must be approved by the stockholders of the Company shall not be effective unless and until such stockholder approval has been obtained in compliance with such law or rule; and no

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termination, suspension, alteration or amendment of the Plan that would adversely affect a Participant’s rights under the Plan with respect to any award of Stock Options made prior to such action shall be effective as to such Participant unless he or she consents thereto, provided, however, that no such consent shall be required if the Board determines in its sole discretion that any such alteration, amendment, suspension or termination is necessary or advisable to comply with any law, regulation, ruling, judicial decision or accounting standards.

ARTICLE VI

EFFECTIVE DATE AND TERM

Section 6.1    Plan History.

The Effective Date of the Plan is May 25, 2000, and stockholder approval was obtained at the first Annual Meeting of Stockholders following such date. The Plan has been amended and restated at various times since the Effective Date, most recently on January 29, 2014, with stockholder approval obtained as required by the rules of the New York Stock Exchange.

Section 6.2    Term of the Plan.

Unless earlier terminated in accordance with Article V above, the Plan shall terminate on the date of the Company’s 2015 Annual Meeting of Stockholders, and no further Stock Options may be granted hereunder after such date. No further awards shall be made under the Predecessor Plans after the Effective Date. Awards outstanding under the Predecessor Plans shall remain outstanding after the Effective Date subject to the terms thereof.

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EX-10.(M)

Exhibit 10(m)

CBS CORPORATION

2005 RSU PLAN FOR OUTSIDE DIRECTORS

(as amended and restated through January 29, 2014)

ARTICLE I

GENERAL

Section 1.1    Purpose.

The purpose of the CBS Corporation 2005 RSU Plan for Outside Directors, as amended from time to time (the “Plan”), is to benefit and advance the interests of CBS Corporation, a Delaware corporation (the “Company”), and its subsidiaries by obtaining and retaining the services of qualified persons who are not employees of the Company or its subsidiaries to serve as directors and to induce them to make a maximum contribution to the success of the Company and its subsidiaries.

Section 1.2    Definitions.

As used in the Plan, the following terms shall have the following meanings:

(a)“Agreement” shall mean the written agreement and/or certificate or other documentation governing an Award under the Plan, which shall contain terms and conditions not inconsistent with the Plan and which shall incorporate the Plan by reference.

(b)“Annual RSU Grant” shall mean a grant of Director RSUs made pursuant to Section 2.1(a).

(c)“Award” shall mean any Director RSU or Dividend Equivalent.

(d)“Board” shall mean the Board of Directors of the Company.

(e)“Class B Common Stock” shall mean the shares of Class B Common Stock, par value $0.001 per share, of the Company.

(f)“Company” shall have the meaning set forth in Section 1.1.

(g)“Director RSUs” shall mean a contractual right granted to a Participant pursuant to Article II to receive shares of Class B Common Stock, subject to the terms and conditions set forth in the Plan. Director RSUs shall be settled exclusively in Class B Common Stock. Director RSUs include the Prorated RSU Grants and the Annual RSU Grants.

(h)“Dividend Equivalent” shall mean a right to receive a payment based upon

the value of the regular cash dividend paid on a specified number of shares of Class B Common Stock as set forth in Article III below. Payment in respect of Dividend Equivalents upon settlement shall be in shares of Class B Common Stock except as set forth in Article III below.

(i)“Effective Date” shall mean the effective date of the Plan provided for in Article VII below.

(j)“Fair Market Value” of a share of Class B Common Stock on a given date shall mean, unless otherwise determined by the Board, the closing price on such date on the New York Stock Exchange or other principal stock exchange on which the Class B Common Stock is then listed, as reported by The Wall Street Journal (Northeast edition) as the 4:00 p.m. (New York time) closing price or as reported by any other authoritative source selected by the Company.

(k)“Outside Director” shall mean any member of the Board who is not an employee of the Company or any of its Subsidiaries.

(l)“Participant” shall mean any Outside Director to whom Awards have been granted under the Plan.

(m)“Plan” shall have the meaning set forth in Section 1.1.

(n)“Prorated RSU Grant” shall have the meaning set forth in Section 2.1.

(o)“RSUs” shall have the meaning set forth in Section 2.1.

(p)“Stock Option Plan” shall mean the CBS Corporation 2000 Stock Option Plan for Outside Directors, as amended from time to time.

(q)“Subsidiary” shall mean a corporation (or a partnership or other enterprise) in which the Company owns or controls, directly or indirectly, more than 50% of the outstanding shares of stock normally entitled to vote for the election of directors (or comparable equity participation and voting power).

Section 1.3    Administration of the Plan.

The Plan shall be administered by the members of the Board who are not Outside Directors, and such Board members shall determine all questions of interpretation, administration and application of the Plan. Such Board members’ determinations shall be final and binding in all matters relating to the Plan. The Board may authorize any officer of the Company to execute and deliver an Agreement on behalf of the Company to a Participant.

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Section 1.4    Eligible Persons.

Awards shall be granted only to Outside Directors.

Section 1.5    Class B Common Stock Subject to the Plan.

Subject to adjustment in accordance with the provisions of Article IV hereof, the maximum number of shares of Class B Common Stock available for Awards made under the Plan on or after January 1, 2009, when aggregated with the number of shares of Class B Common Stock available for awards made under the Stock Option Plan on or after January 1, 2009, shall be 1,681,995 shares plus any shares that are available to be regranted pursuant to the last sentence of this Section 1.5. The shares of Class B Common Stock shall be made available from authorized but unissued shares of Class B Common Stock or from shares of Class B Common Stock issued and held in the treasury of the Company. The settlement of any Awards under the Plan in any manner shall result in a decrease in the number of shares of Class B Common Stock which thereafter may be issued for purposes of this Section 1.5 by the number of shares issued upon such settlement. Shares of Class B Common Stock with respect to which Awards lapse, expire or are cancelled without being settled or are otherwise terminated may be regranted under the Plan.

ARTICLE II

RESTRICTED SHARE UNITS

Section 2.1    Grants of Restricted Share Units (“RSUs”).

(a)On each of February 15, 2014 and each February 15 thereafter, each Outside Director shall automatically be granted a number of Director RSUs determined by dividing (i) $200,000 by (ii) the Fair Market Value of one share of Class B Common Stock on the date of grant, with each fractional RSU rounded up to the next highest whole RSU.

(b)In the event that an Outside Director joins the Board following the date of an Annual RSU Grant, but during the calendar year of the grant, such Outside Director shall automatically receive, five (5) business days following the date he or she joins the Board, a Prorated RSU Grant. A “Prorated RSU Grant” shall mean a grant of a number of Director RSUs determined by dividing (i) the product of (a) the value of the Annual RSU Grant for that calendar year divided by 12 and (b) the number of months remaining in such calendar year from the date the Outside Director joins the Board (counting the month of joining as a full month), by (ii) the Fair Market Value of one share of Class B Common Stock on the date of grant, with each fractional RSU rounded up to the next highest whole RSU.

(c)With respect to each Annual RSU Grant and Prorated RSU Grant, if the relevant date of grant is not a business day on which the Fair Market Value can be

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determined, then the Fair Market Value shall be determined as of the last business day preceding the relevant date of grant on which the Fair Market Value can be determined. The terms and conditions of the Director RSUs shall be set forth in an Agreement which shall be delivered to the Participants reasonably promptly following the relevant date of grant of such Director RSUs.

Section 2.2    Vesting.

Director RSUs shall be settled only to the extent the Participant is vested therein. Subject to Section 2.3(b), each Annual RSU Grant shall vest on the first anniversary of the relevant date of grant. A Prorated RSU Grant shall vest on the first anniversary of the date of grant of the Annual RSU Grant that was awarded during the calendar year in which the Participant received such Prorated RSU Grant.

Section 2.3    Settlement of Restricted Share Units.

(a)    Settlement.    On the date on which Director RSUs vest, all restrictions contained in the Agreement covering such Director RSUs and in the Plan shall lapse as to such Director RSUs, and the Director RSUs shall be payable in shares of Class B Common Stock and shall be evidenced in such manner as the Board in its discretion shall deem appropriate, including, without limitation, book-entry registration or issuance of one or more stock certificates. If stock certificates are issued, such certificates shall be delivered to the Participant or such certificates shall be credited to a brokerage account if the Participant so directs; provided, however, that such certificates shall bear such legends as the Board, in its sole discretion, may determine to be necessary or advisable in order to comply with applicable federal or state securities laws.

(b)    Settlement in the Event of Termination of Services.    If the services of a Participant as a director of the Company terminate for any reason, the Participant shall forfeit all unvested Director RSUs as of the date of such event.

(c)    Deferral of Settlement.    Notwithstanding Section 2.3(a), a Participant may elect to defer settlement of any or all Director RSUs to a date subsequent to the vesting date of such Director RSUs, provided that: (i) with respect to each Annual RSU Grant, such election to defer is made no later than December 31 of the year prior to the year in which the Outside Director performs any of the services for which such Director RSUs are granted; and (ii)  with respect to each Prorated RSU Grant, such election to defer is made prior to the date of grant. Settlement of any deferred Director RSUs shall be made in a single distribution or three or five annual installments in accordance with the Participant’s deferral election. The single distribution or first annual installment, as applicable, will be payable on the later of (i) six months following the date of the Participant’s termination of services on the Board for any reason or (ii) January 31 of the calendar year following the calendar year in which the Participant’s services on the Board terminates for any reason.

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ARTICLE III

DIVIDEND EQUIVALENTS

The Participant shall be entitled to receive Dividend Equivalents on the Director RSUs in the event the Company pays a regular cash dividend with respect to the shares of Class B Common Stock. The Company shall maintain a bookkeeping record that credits the dollar amount of the Dividend Equivalents to a Participant’s account on the date that the Company pays such regular cash dividend on the shares of Class B Common Stock. Dividend Equivalents shall accrue on the Director RSUs until the Director RSUs vest, at which time they shall be paid in shares of Class B Common Stock determined by dividing (i) the aggregate amount credited in respect of such Dividend Equivalents by (ii) the Fair Market Value on the vesting date, with any fractional shares resulting from this calculation rounded up to the next highest whole share. Payment of Dividend Equivalents that have been credited to the Participant’s account will not be made with respect to any Director RSUs that do not vest and are cancelled.

In addition, if the Participant elects to defer settlement of the Director RSUs, as permitted under Section 2.3(c), such Director RSUs will continue to earn Dividend Equivalents on the deferred Director RSUs through the settlement date. All such Dividend Equivalents credited to the Participant’s account with respect to deferred Director RSUs shall be converted, on the anniversary of the date on which the Director RSUs originally vested and on each anniversary thereof, as appropriate, until the Director RSUs are settled, into additional whole Director RSUs, based on the Fair Market Value of the Class B Common Stock on the respective dates. Such additional Director RSUs shall be deferred subject to the same terms and conditions as the Directors RSUs to which the Dividend Equivalents originally related.

ARTICLE IV

EFFECT OF CERTAIN CORPORATE CHANGES

In the event of any merger, consolidation, stock-split, dividend (other than a regular cash dividend), distribution, combination, recapitalization, reclassification, reorganization, split-off or spin-off that changes the character or amount of the shares of Class B Common Stock or any other changes in the corporate structure, equity securities or capital structure of the Company, the Board shall make such proportionate adjustments to (i) the number and kind of securities subject to any outstanding Awards, (ii) the number and kind of securities subject to the Prorated RSU Grants and the Annual RSU Grants referred to in Section 2.1, and (iii) the maximum number and kind of securities available for issuance under the Plan referred to in Section 1.5, in each case, as it deems appropriate. The Board may, in its sole discretion, also make such other adjustments as it deems appropriate in order to preserve, but not increase, the benefits or potential benefits intended to be made available hereunder upon the occurrence of any of the foregoing events. The Board’s determination as to what, if any, adjustments shall be made shall be final and binding on the Company and all Participants. Adjustments under this Article

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shall be conducted in a manner consistent with any adjustments under the Stock Option Plan.

ARTICLE V

MISCELLANEOUS

Section 5.1    No Right to Re-election.

Nothing in the Plan shall be deemed to create any obligation on the part of the Board to nominate any of its members for re-election by the Company’s stockholders, nor confer upon any Participant the right to remain a member of the Board for any period of time, or at any particular rate of compensation.

Section 5.2    Restriction on Transfer.

The rights of a Participant with respect to any Awards under the Plan shall not be transferable by the Participant to whom such Awards are granted, except (i) by will or the laws of descent and distribution, (ii) upon prior notice to the Company, for transfers to members of the Participant’s immediate family or trusts whose beneficiaries are members of the Participant’s immediate family, provided that such transfer is being made for estate and/or tax planning purposes without consideration being received therefor, (iii) upon prior notice to the Company, for transfers to a former spouse incident to a divorce, or (iv) for such other transfers as the Board may approve, subject to any conditions and limitations that it may, in its sole discretion, impose.

Section 5.3    Stockholder Rights.

No grant of an Award under the Plan shall entitle a Participant, a Participant’s estate or a permitted transferee to any rights of a holder of shares of Class B Common Stock, except upon the delivery of shares as provided in Section 2.3(a) to a Participant, the Participant’s estate or the permitted transferee upon settlement of an Award.

Section 5.4    No Restriction on Right of Company to Effect Corporate Changes.

The Plan shall not affect in any way the right or power of the Company or its stockholders to make or authorize any or all adjustments, recapitalizations, reorganizations or other changes in the Company’s capital structure or its business, or any merger or consolidation of the Company, or any issue of stock or of options, warrants or rights to purchase stock or of bonds, debentures, preferred or prior preference stocks whose rights are superior to or affect the shares of Class B Common Stock or the rights thereof or which are convertible into or exchangeable for shares of Class B Common Stock, or the dissolution or liquidation of the Company, or any sale or transfer of all or any part of its assets or business, or any other corporate act or proceeding, whether of a similar character or otherwise.

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Section 5.5    Headings.

The headings of articles and sections herein are included solely for convenience of reference and shall not affect the meaning of any of the provisions of the Plan.

Section 5.6    Governing Law.

The Plan and all rights hereunder shall be construed in accordance with and governed by the laws of the State of Delaware.

ARTICLE VI

AMENDMENT AND TERMINATION

The Board may at any time and from time to time alter, amend, suspend or terminate the Plan in whole or in part, including, without limitation, amending the provisions for determining the amount of Director RSUs to be issued to an Outside Director, provided, however, that any amendment which under the requirements of applicable law or under the rules of the New York Stock Exchange or other principal stock exchange on which the shares of Class B Common Stock are then listed must be approved by the stockholders of the Company shall not be effective unless and until such stockholder approval has been obtained in compliance with such law or rule; and no alteration, amendment, suspension or termination of the Plan that would adversely affect a Participant’s rights under the Plan with respect to any Award made prior to such action shall be effective as to such Participant unless he or she consents thereto, provided, however, that no such consent shall be required if the Board determines in its sole discretion that any such alteration, amendment, suspension or termination is necessary or advisable to comply with any law, regulation, ruling, judicial decision or accounting standards or to ensure that Director RSUs or Dividend Equivalents are not subject to federal, state or local income tax prior to settlement.

ARTICLE VII

EFFECTIVE DATE AND TERM

Section 7.1    Effective Date.

The Effective Date of the Plan is May 26, 2005, the date on which stockholder approval was first obtained at the Company’s 2005 Annual Meeting of Stockholders. The Plan has been amended and restated at various times since the Effective Date, most recently on January 29, 2014, with stockholder approval obtained as required by the rules of the New York Stock Exchange.

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Section 7.2    Term of the Plan.

Unless earlier terminated in accordance with Article VI above, the Plan shall terminate on the date of the Company’s 2015 Annual Meeting of Stockholders, and no further Awards may be granted hereunder after such date.

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EX-12

Exhibit 12

CBS CORPORATION AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Tabular dollars in millions, except ratios)

	Twelve Months Ended
	December 31,
	2013			2012			2011			2010			2009
Earnings from continuing operations before income taxes and equity in loss of investee companies	$	2,897		$	2,561		$	2,179		$	1,335		$	577
Add:
Distributions from investee companies	13			17			13			-			2
Interest expense, net of capitalized interest	376			402			435			527			540
1/3 of rental expense	168			162			161			161			167
Total earnings from continuing operations	$	3,454		$	3,142		$	2,788		$	2,023		$	1,286
Fixed charges:
Interest expense, net of capitalized interest	$	376		$	402		$	435		$	527		$	540
1/3 of rental expense	168			162			161			161			167
Total fixed charges	$	544		$	564		$	596		$	688		$	707
Ratio of earnings to fixed charges	6.3		x	5.6		x	4.7		x	2.9		x	1.8		x

EX-21

Exhibit 21

Subsidiaries of CBS Corporation *

(as of February 1, 2014)

DOMESTIC

Subsidiary Name	Place of Incorporation or Organization
13 Investments LLC	Louisiana
13 Productions LLC	Louisiana
13 Radio Corporation	Delaware
90210 Productions, Inc.	California
A.S. Payroll Company, Inc.	California
Aaron Spelling Productions, Inc.	California
Acorn Pipe Line Company	Texas
Acorn Properties, Inc.	Texas
Acorn Trading Company	Texas
Addax Music Co., Inc.	Delaware
Aetrax International Corporation	Delaware
Ages Electronics, Inc.	Delaware
Ages Entertainment Software LLC	Delaware
All is Forgiven Productions (General Partnership)	California
All Media Inc.	Delaware
ALTSIM Inc.	Delaware
Amadea Film Productions, Inc.	Texas
Amazing Race Productions Inc.	Delaware
Anastasia Advertising Art, Inc.	Florida
Antilles Oil Company, Inc.	Puerto Rico
A-R Acquisition Corp.	Delaware
Armacost Music LLC	Delaware
Around the Block Productions, Inc.	Delaware
Aspenfair Music, Inc.	California
Atlanta Television Station WUPA Inc.	Delaware
Atlantic Prospect, Inc.	New York
Audio House, Inc., The	California
Avery Productions LLC	Delaware
BAPP Acquisition Corporation	Delaware
Barrington Songs LLC	Delaware
Bay County Energy Systems, Inc.	Delaware
Bay Resource Management, Inc.	Delaware
Beverlyfax Music, Inc.	California
Big Ticket Music Inc.	Delaware
Big Ticket Pictures Inc.	Delaware
Big Ticket Productions Inc.	Delaware
Big Ticket Television Inc.	Delaware
Blackrock Insurance Corporation	New York
Blue Cow Inc.	Delaware
Bombay Hook LLC	Delaware
Bonneville Wind Corporation	Utah
Branded Productions, Inc.	California

Subsidiary Name	Place of Incorporation or Organization
Brentwood Pictures Inc.	Delaware
Brotherhood Productions, Inc.	Rhode Island
Bruin Music Company	Delaware
Bustop Shelters of Nevada, Inc.	Nevada
C&W Land Corporation	New Jersey
C-28 FCC Licensee Subsidiary, LLC	Delaware
Caroline Films Productions, Inc.	California
CBS/CTS Inc.	Delaware
CBS/Westinghouse of PA Inc.	Delaware
CBS (PDI) Distribution Inc.	Delaware
CBS Advertiser Services Inc.	Delaware
CBS Asia Inc.	Delaware
CBS AJV Inc.	Delaware
CBS Broadcast International Asia Inc.	New York
CBS Broadcasting Inc.	New York
CBS Broadcasting West Inc.	Delaware
CBS Collegiate Sports Properties Inc.	Delaware
CBS Communications Services Inc.	Delaware
CBS Communications Technology Group Inc.	Delaware
CBS Consumer Products Inc.	Delaware
CBS Corporate Services Inc.	Delaware
CBS CW Network Partner LLC	Delaware
CBS DBS Inc.	Delaware
CBS Domains Inc.	Virginia
CBS EcoMedia Inc.	Delaware
CBS Employee Services Inc.	Delaware
CBS Executive Services Corporation	Delaware
CBS Film Funding Company Inc.	Delaware
CBS Films Inc.	Delaware
CBS Films Distribution Inc.	Delaware
CBS Films Productions Inc.	Delaware
CBS First Run Development Company Inc.	Delaware
CBS First Run Limited	Delaware
CBS Foundation Inc.	New York
CBS General Entertainment Australia Inc.	Delaware
CBS Home Entertainment Inc.	Delaware
CBS Holdings (Mexico) Inc.	Delaware
CBS IDA Inc.	Delaware
CBS Interactive Inc.	Delaware
CBS Interactive Media Inc.	Delaware
CBS International Inc.	Delaware
CBS IOA Holdings LLC	Delaware
CBS IRB Acquisition Inc.	Delaware
CBS Japan Inc.	Delaware
CBS K-Band Inc.	Delaware
CBS Last FM Holding Inc.	Delaware
CBS LITV LLC	Delaware

Subsidiary Name	Place of Incorporation or Organization
CBS-Lux Holding LLC	Delaware
CBS Lyrics Inc.	Delaware
CBS Mass Media Corporation	Delaware
CBS MaxPreps Inc.	California
CBS Media Realty Corporation	New York
CBS Music LLC	Delaware
CBS News Communications Inc.	New York
CBS News Inc.	Delaware
CBS Operations Inc.	Delaware
CBS Operations Investments Inc.	Delaware
CBS Operations Services Inc.	Delaware
CBS Outdoor Americas Capital Corporation	Delaware
CBS Outdoor Americas Capital LLC	Delaware
CBS Outdoor Americas Inc.	Maryland
CBS Outdoor Group LLC	Delaware
CBS Outdoor Investments Inc.	Delaware
CBS Outdoor L.A. Inc.	Delaware
CBS Outdoor LLC	Delaware
CBS Outdoor Puerto Rico, Inc.	Puerto Rico
CBS Outernet Inc.	Delaware
CBS Overseas Inc.	New York
CBS Overseas Productions Two Inc.	Delaware
CBS Phoenix Inc.	Delaware
CBS Pictures Overseas Inc.	Delaware
CBS PNW Sports Inc.	Delaware
CBS Radio Annapolis Holdings Inc.	Delaware
CBS Radio Annapolis LLC	Delaware
CBS Radio East Holdings Corporation	Delaware
CBS Radio East Inc.	Delaware
CBS Radio Holdings Corp. of Massachusetts	Delaware
CBS Radio Holdings Corp. of Orlando	Delaware
CBS Radio Inc.	Delaware
CBS Radio Inc. of Atlanta	Delaware
CBS Radio Inc. of Baltimore	New York
CBS Radio Inc. of Boston	Delaware
CBS Radio Inc. of Detroit	Delaware
CBS Radio Inc. of Florida	Delaware
CBS Radio Inc. of Glendale	Delaware
CBS Radio Inc. of Illinois	Delaware
CBS Radio Inc. of Los Angeles	Delaware
CBS Radio Inc. of Maryland	Delaware
CBS Radio Inc. of Michigan	Delaware
CBS Radio Inc. of Northern California	Delaware
CBS Radio Inc. of Philadelphia	Delaware
CBS Radio Inc. of Tampa	Delaware
CBS Radio Inc. of Washington	Delaware
CBS Radio Inc. of Washington, D.C.	Delaware

Subsidiary Name	Place of Incorporation or Organization
CBS Radio KFRC-AM Inc.	Delaware
CBS Radio KMVQ-FM Inc.	Delaware
CBS Radio Media Corporation	Delaware
CBS Radio Network Inc.	Delaware
CBS Radio of Chicago LLC	Delaware
CBS Radio of Sacramento Inc.	Pennsylvania
CBS Radio Promotions Group Inc.	Delaware
CBS Radio Sales Company	Delaware
CBS Radio Services Inc.	Delaware
CBS Radio Stations Inc.	Delaware
CBS Radio Technical Services Inc.	Delaware
CBS Radio Texas Inc.	Delaware
CBS Radio Tower Inc.	Delaware
CBS Radio Ventures, Inc.	Delaware
CBS Radio WLIF, Inc.	Maryland
CBS Radio WLIF-AM, Inc.	Maryland
CBS Radio WPGC(AM) Inc.	Delaware
CBS Receivables Funding II Corporation	Delaware
CBS Receivables Funding III Corporation	Delaware
CBS Records Inc.	Delaware
CBS Retail Stores Inc.	Delaware
CBS—Sac Music Inc.	Delaware
CBS Satellite News Inc.	Delaware
CBS Services Inc.	Delaware
CBS Shopping Inc.	Delaware
CBS Sports Inc.	Delaware
CBS Sports Radio Network Inc.	Delaware
CBS Stations Group of Texas LLC	Delaware
CBS Stock Holdings I Inc.	Delaware
CBS Stock Holdings II Inc.	Delaware
CBS Studios Inc.	Delaware
CBS Studios Networks Inc.	New York
CBS Studios Overseas Productions Inc.	Delaware
CBS Studios Productions LLC	Delaware
CBS Subsidiary Management Corp.	Delaware
CBS Survivor Productions, Inc.	Delaware
CBS Technology Corporation	Delaware
CBS Television Licenses LLC	Delaware
CBS Television Service Inc.	Delaware
CBS Television Stations Inc.	Delaware
CBS Temp Services Inc.	Delaware
CBS TVG Inc.	Delaware
CBS UAC Corporation	Delaware
CBS Worldwide Distribution Inc.	Delaware
CBS World Wide Ltd.	New York
CCG Ventures, Inc.	Delaware
Central Fidelity Insurance Company	Vermont

Subsidiary Name	Place of Incorporation or Organization
Centurion Satellite Broadcast Inc.	Delaware
Championship Productions Inc.	Delaware
Channel 28 Television Station, Inc.	Delaware
Channel 34 Television Station LLC	Delaware
Charter Crude Oil Company	Texas
Charter Futures Trading Company	Texas
Charter Media Company	Delaware
Charter Oil Company	Florida
Charter Oil Services, Inc.	Texas
Chazo Productions Inc.	Delaware
CIOC Remediation Trust	Delaware
CIOC LLC	Delaware
Classless Inc.	Delaware
Clicker Media Inc.	Delaware
CNET Investments, Inc.	Delaware
Columbia Television, Inc.	New York
Comanche Moon Productions Inc.	New Mexico
Commissioner.com, Inc.	New York
Compelling Music LLC	California
Concord Entertainment Inc.	Delaware
Consolidated Caguas Corporation	Delaware
Cross Step Productions Inc.	Delaware
CSTV Networks, Inc.	Delaware
CSTV Online, Inc.	Delaware
CSTV Regional, LLC	Delaware
CSTV-A, LLC	Delaware
CSTV-B, LLC	Delaware
Danni Productions LLC	Louisiana
Davis Circle Productions Inc.	Delaware
Delaware Resource Beneficiary, Inc.	Delaware
Delaware Resource Lessee Trust	Delaware
Delaware Resource Management, Inc.	Delaware
Design-Graphics, Inc.	Florida
Desilu Productions Inc.	Delaware
Detroit Television Station WKBD Inc.	Virginia
Dotspotter Inc.	Delaware
Dutchess Resource Management, Inc.	Delaware
Dynamic Soap, Inc.	California
Eagle Direct, Inc.	Delaware
Elite Productions Inc.	Delaware
Elysium Productions Inc.	Delaware
Energy Development Associates Inc.	Delaware
EPI Music LLC	California
Erica Film Productions, Inc.	California
ET Media Group Inc.	Delaware
Evergreen Programs LLC	New York
EWB Corporation	Delaware

Subsidiary Name	Place of Incorporation or Organization
Eye Creative Media Group Inc.	Delaware
Eye Explorations Inc.	Delaware
Eye Net Works Inc.	Delaware
Eye Productions Inc.	Delaware
Fifty-Sixth Century Antrim Iron Company, Inc.	Delaware
Film Intex Corporation	Delaware
First Hotel Investment Corporation	Delaware
Forty-Fourth Century Corporation	Delaware
Four Crowns, Inc.	Delaware
French Street Management LLC	Delaware
Front Street Management Inc.	Delaware
G&W Leasing Company	Delaware
G&W Natural Resources Company, Inc.	Delaware
Games Exchange Inc.	Delaware
Gateway Fleet Company	Pennsylvania
Glendale Property Corp.	Delaware
Glory Productions Inc.	Delaware
Gloucester Titanium Company, Inc.	Delaware
GNS Productions Inc.	Delaware
GolfWeb	California
Gorgen, Inc.	California
Grammar Productions Inc.	Delaware
Granite Productions Inc.	California
Granville Pictures Inc.	Delaware
Green Tiger Press, Inc.	California
Group W Television Stations, L.P.	Delaware
Gulf & Western Indonesia, Inc.	Delaware
H R Acquisition Corp.	Delaware
Hamilton Projects, Inc.	New York
Hit Radio, Inc.	New York
Image Edit, Inc.	Delaware
IMR Acquisition Corp.	Delaware
Independent Petrochemical Corporation	Ohio
INFCO Network Inc.	Delaware
Infinity Broadcasting Corporation	Delaware
Inside Edition Inc.	New York
Interstitial Programs Inc.	Delaware
Irvine Games Inc.	Delaware
Irvine Games USA Inc.	Delaware
Jumbo Ticket Songs Inc.	Delaware
Just U Productions, Inc.	California
K.W. M., Inc.	Delaware
Katled Systems Inc.	Delaware
Kilo Mining Corporation	Pennsylvania
King World Corporation	Delaware
King World Development Inc.	California
King World Direct Inc.	Delaware

Subsidiary Name	Place of Incorporation or Organization
King World Media Sales Inc.	Delaware
King World Merchandising, Inc.	Delaware
King World Productions, Inc.	Delaware
King World Studios West Inc.	California
King World/CC Inc.	New York
Kristina Productions Inc.	Delaware
KUTV Holdings, Inc.	Delaware
KW Development Inc.	California
KWP/RR Inc.	New York
KWP Studios Inc.	California
KWTS Productions Inc.	California
Large Ticket Songs Inc.	Delaware
Laurel Entertainment LLC	Delaware
Levitt Property Managers, Inc.	California
Liliana Productions Inc.	Delaware
Lincoln Point Productions Inc.	Delaware
Los Angeles Television Station KCAL LLC	Delaware
Low Key Productions Inc.	Delaware
LT Holdings Inc.	Delaware
Maarten Investerings Partnership	New York
Magical Jade Productions Inc.	Delaware
Magic Molehill Productions, Inc.	California
Matlock Company, The	Delaware
Mattalex LLC	Delaware
Melrose Productions Inc.	California
Meredith Productions LLC	Delaware
Merlot Film Productions, Inc.	California
Merritt Inc.	Delaware
Miami Television Station WBFS Inc.	Delaware
Moms at Work Productions Inc.	Delaware
MVP.com Sports, Inc.	Delaware
Narrabeen Productions Inc.	Delaware
New Jersey Zinc Exploration Company, The	Delaware
New York Subways Advertising Co., Inc.	Arizona
Nicki Film Productions, Inc.	Delaware
North Shore Productions Inc.	Delaware
NTA Films, Inc.	New York
O Good Songs Company	California
O’Connor Combustor Corporation	California
OM/TV Productions Inc.	Delaware
On Broadband Networks LLC	Delaware
Orange Ball Networks Subsidiary PRC, Inc.	Delaware
OurChart.com LLC	Delaware
Our Home Productions Inc.	Delaware
Outdoor Inc.	Maryland
Outdoor Management Network, Inc.	California
Outdoor Systems Americas 1 (Delaware), LLC	Delaware

Subsidiary Name	Place of Incorporation or Organization
Outdoor Systems Americas 2 (Delaware), LLC	Delaware
Outdoor Systems Americas 3 (Delaware), LLC	Delaware
Outdoor Systems Electrical Corp.	New York
Outdoor TDI LLC	Delaware
Outlet Networks Inc.	Delaware
Part-Time Productions Inc.	Delaware
PCCGW Company, Inc.	Delaware
PCI Canada Inc.	Delaware
PCI Network Partner II Inc.	Delaware
PCI Network Partner Inc.	Delaware
Permutation Productions Inc.	Delaware
Philadelphia Television Station WPSG Inc.	Delaware
Pittsburgh Television Station WPCW Inc.	Delaware
PMV Productions, Inc.	Delaware
Possible Productions Inc.	Delaware
Possum Point Incorporated	Delaware
Pottle Productions, Inc.	California
Preye, Inc.	California
Proxy Music LLC	California
Quemahoning Coal Processing Company	Pennsylvania
Radford Studio Center Inc.	California
Raquel Productions Inc.	Delaware
Raven Media LLC	Delaware
Real TV Music Inc.	Delaware
Recovery Ventures Inc.	Delaware
Republic Distribution LLC	Delaware
Republic Entertainment LLC	Delaware
Republic Pictures Enterprises LLC	Delaware
Republic Pictures Productions LLC	California
RH Productions Inc.	California
RTV News Inc.	Delaware
RTV News Music Inc.	Delaware
Sacramento Television Stations Inc.	Delaware
Salm Enterprises, Inc.	California
Salton Sea Songs LLC	Delaware
San Francisco Television Station KBCW Inc.	Virginia
Saucon Valley Iron and Railroad Company, The	Pennsylvania
SBX Acquisition Corp.	Delaware
Scott-Mattson Farms, Inc.	Florida
SDI Raven LLC	Delaware
Ship House, Inc.	Florida
SHOtunes Music LLC	Delaware
Show Works Productions Inc.	Delaware
Showtime Live Entertainment Inc.	Delaware
Showtime Marketing Inc.	Delaware
Showtime Networks Inc.	Delaware
Showtime Networks Inc. (U.K.)	Delaware

Subsidiary Name	Place of Incorporation or Organization
Showtime Networks Satellite Programming Company	Delaware
Showtime Online Inc.	Delaware
Showtime Pictures Development Company	Delaware
Showtime Satellite Networks Inc.	Delaware
Showtime Songs Inc.	Delaware
Showtime/Sundance Holding Company Inc.	Delaware
SIFO One Inc.	Delaware
SIFO Two Inc.	Delaware
Simon & Schuster Digital Sales Inc.	Delaware
Simon & Schuster Global Services Inc.	Delaware
Simon & Schuster India LLC	Delaware
Simon & Schuster International Inc.	Delaware
Simon & Schuster, Inc.	Delaware
SNI/SI Networks LLC	Delaware
Soapmusic Company	Delaware
Solar Service Company	Delaware
SongFair Inc.	Delaware
Spelling Daytime Songs Inc.	Delaware
Spelling Daytime Television Inc.	Delaware
Spelling Entertainment Group LLC	Delaware
Spelling Entertainment LLC	Delaware
Spelling Satellite Networks Inc.	California
Spelling Television Inc.	Delaware
SportsLine.com, Inc.	Delaware
St. Johns Realty Investors	Delaware
Starfish Productions Inc.	Delaware
Stargate Acquisition Corp. One	Delaware
Stat Crew Software, Inc.	Ohio
Stranglehold Productions, Inc.	California
Sunset Beach Productions, Inc.	Delaware
Survivor Productions, LLC	Delaware
Swift Justice Productions Inc.	Delaware
T&R Payroll Company	Delaware
Taylor Forge Memphis, Inc.	Delaware
TDI Northwest, Inc.	Washington
TDI Worldwide LLC	Delaware
TDI Worldwide Investments Inc.	Delaware
Television Station KTXA Inc.	Virginia
Television Station WTCN LLC	Delaware
Television Station WWHB LLC	Delaware
The CW Television Stations Inc.	Delaware
They Productions Inc.	Delaware
Things of the Wild Songs Inc.	Delaware
Third Century Company	Delaware
Thirteenth Century Corporation	Delaware
Thirtieth Century Corporation	Delaware
Timber Purchase Company	Florida

Subsidiary Name	Place of Incorporation or Organization
Toe-to-Toe Productions Inc.	Delaware
Torand Payroll Company	Delaware
Torand Productions Inc.	Delaware
Total Warehouse Services Corporation	Delaware
Trans-American Resources, Inc.	Delaware
Transportation Displays Inc.	Delaware
TSM Services Inc.	Delaware
Tube Mill, Inc.	Alabama
TV Guide Online Holdings LLC	Delaware
TV Scoop Inc.	Delaware
UCGI, Inc.	Delaware
UPN (general partnership)	Delaware
UPN Holding Company, Inc.	California
UPN Properties, Inc.	California
Ureal Productions Inc.	Delaware
VE Development Company	Delaware
VE Drive Inc.	Delaware
VE Television Inc.	Delaware
VI Services Corporation	Delaware
VISI Services Inc.	Delaware
Visions Productions, Inc.	New York
VJK Inc.	Delaware
VNM Inc.	Delaware
VP Direct Inc.	Delaware
VPix Inc.	Delaware
VP Programs Inc.	California
VSC Compositions LLC	New York
VSC Music LLC	New York
Waste Resource Energy, Inc.	Delaware
WBCE Corp.	New York
WCC FSC I, Inc.	Delaware
WCC Project Corp.	Delaware
Westgate Pictures Inc.	Delaware
Westinghouse Aircraft Leasing Inc.	Delaware
Westinghouse Asset Management Inc.	Delaware
Westinghouse Canada Holdings L.L.C.	Delaware
Westinghouse CBS Holding Company, Inc.	Delaware
Westinghouse Electric Corporation	Delaware
Westinghouse Environmental Management Company of Ohio, Inc.	Delaware
Westinghouse Hanford Company	Delaware
Westinghouse Holdings Corporation	Delaware
Westinghouse Idaho Nuclear Company, Inc.	Delaware
Westinghouse Investment Corporation	Delaware
Westinghouse Licensing Corporation	Pennsylvania
Westinghouse Reinvestment Company, L.L.C.	Delaware
Westinghouse World Investment Corporation	Delaware

Subsidiary Name	Place of Incorporation or Organization
W-F Productions, Inc.	Delaware
Wilshire Entertainment Inc.	Delaware
Wilshire/Hauser Company	Delaware
Wilson-Curtis, Inc.	Missouri
World Volleyball League, Inc.	New York
Worldvision Enterprises LLC	New York
Worldvision Enterprises (United Kingdom) Ltd.	New York
Worldvision Enterprises of Canada, Limited	New York
Worldvision Home Video LLC	New York
WPIC Corporation	Delaware
WT Animal Music Inc.	Delaware
WT Productions Inc.	Delaware
York Resource Energy Systems, Inc.	Delaware
Young Reader’s Press, Inc.	Delaware

INTERNATIONAL

Subsidiary Name	Place of Incorporation
14 Hours Productions Inc.	Canada (Ontario)
3261823 Nova Scotia Company	Canada (Nova Scotia)
4400 Productions Inc.	Canada (B.C.)
1554994 Ontario Inc.	Canada (Ontario)
559733 British Columbia Ltd.	Canada (B.C.)
Abaco Farms Limited	Bahamas
Advertising Systems Americas HoldCo CV	Netherlands
Agency Films Inc.	Canada (Ontario)
Aliens in America Productions Inc.	Canada (Ontario)
Amanda Productions Inc.	Canada (Ontario)
Audioscrobbler Limited	United Kingdom
Bahamas Underwriters Services Limited	Bahamas
Beastly Productions Inc.	Canada (Ontario)
Butterick Road Productions Inc.	Canada (Ontario)
Cania Productions Inc.	Canada (Ontario)
Cayman Overseas Reinsurance Association	Cayman Islands
CBS-CSI International B.V.	Netherlands
CBS Broadcast International B.V.	Netherlands
CBS Broadcast-Kingworld - CBS Lux Holding LLC S.C.S.	Luxembourg
CBS Broadcast International of Canada Ltd.	Canada (Ontario)
CBS Broadcast Services Limited	United Kingdom
CBS Canada Co.	Canada (Nova Scotia)
CBS Canada GP Co.	Canada (Nova Scotia)
CBS Canada Holdings Co.	Canada (Nova Scotia)
CBS Canadian Film and Television Inc.	Canada (Ontario)
CBS CSI Distribution - CBS Lux Holding LLC S.C.S.	Luxembourg
CBS Enterprises (UK) Limited	United Kingdom

Subsidiary Name	Place of Incorporation
CBS Films Canadian Productions Inc.	Canada (Ontario)
CBS Holdings (Bermuda) 2 Ltd.	Bermuda
CBS Holding (Germany) B.V.	Netherlands
CBS Holdings (Germany) II B.V.	Netherlands
CBS Interactive Limited	United Kingdom
CBS Interactive Pte Ltd.	Singapore
CBS Interactive Pty. Ltd.	Australia
CBS International (Netherlands) B.V.	Netherlands
CBS International Holdings B.V.	Netherlands
CBS International Sales Holdings B.V.	Netherlands
CBS International Television (UK) Limited	United Kingdom
CBS International Television Australia Pty Limited	Australia
CBS International Television Italia Srl	Italy
CBS International Television Japan GK	Japan
CBS Luxembourg S.a.r.l.	Luxembourg
CBS Midia Exterior Limitada	Brazil
CBS Netherlands PP B.V.	Netherlands
CBS Outdoor Advertising Uruguay S.A.	Uruguay
CBS Outdoor Argentina	Argentina
CBS Outdoor Brasil Ltda.	Brazil
CBS Outdoor Canada LP	Canada (Ontario)
CBS Outdoor Chile S.A.	Chile
CBS Outdoor JC Decaux Street Furniture Canada Ltd.	Canada (Federal)
CBS Outdoor Metro Services Limited	United Kingdom
CBS S AG	Switzerland
CBS Pimco UK	United Kingdom
CBS Showtime — CBS Lux Holding LLC S.C.S.	Luxembourg
CBS Studios International GmbH	Germany
CBS Studios — CBS Lux Holding LLC S.C.S.	Luxembourg
CBS UK	United Kingdom
CBS UK Channels Limited	United Kingdom
CBS UK Productions Ltd.	United Kingdom
CBS SEA Channels Pte. Ltd.	Singapore
CBS Worldvision — CBS Lux Holding LLC S.C.S.	Luxembourg
CBS Worldwide Ltd.	Bermuda
Channel Community Networks Corporation	Canada
Channel Services SA	Switzerland
Charter Oil (Bahamas) Limited	Bahamas
Charter Oil Specialties Limited	Bahamas
Chuanmei Information Technologies (Shanghai) Co., Ltd.	China
Climate Productions Inc.	Canada (Ontario)
CNET (Beijing) Information Technology Co., Ltd.	China
CN Pilot Productions Inc.	Canada (Ontario)
Columbia Broadcasting Systems Limited	Cyprus
Danger Productions Inc.	Canada (Ontario)
DC Films Inc.	Canada (B.C.)

Subsidiary Name	Place of Incorporation
Defenders Productions Inc.	Canada (Ontario)
dFactory Sarl	Switzerland
Eppar- Empresa de Paineis e Participacoes Ltda	Brazil
Famous Players Investments B.V.	Netherlands
First Cut Productions Inc.	Canada (B.C.)
Fusionante Vendor, S de R.L. de C.V.	Mexico
GFB Productions Inc.	Canada (Ontario)
Grand Bahama Petroleum Company Limited	Bahamas
Grande Alliance Co. Ltd.	Cayman Islands
Gravity Productions Inc.	Canada (B.C.)
GS Films Inc.	Canada (Ontario)
Gulf & Western do Brazil Industria e Comercio Limitada (in liquidation)	Brazil
Gulf & Western International N.V.	Netherlands Antilles
Gulf & Western Limited	Bahamas
Inprime Investments Limited	British Virgin Islands
International Outdoor Advertising Holdings Company	Cayman Islands
International Raw Materials Limited	Bahamas
IOAHC Investments Company	Cayman Islands
IOAHC Investments Uruguay Company	Cayman Islands
IOA Prolix Company	Cayman Islands
Jake Productions Inc.	Canada (B.C.)
Jericho Productions Inc.	Canada (Alberta)
Justice Productions Inc.	Canada (Ontario)
King & Maxwell Productions Inc.	Canada (B.C.)
L23 Productions Inc.	Canada (Ontario)
Last.FM Acquisition Limited	United Kingdom
Last.FM GmbH	Germany
Last.FM Limited	United Kingdom
LastFM Japan GK	Japan
List Productions Inc.	Canada (Ontario)
LS Productions Inc.	Canada (Ontario)
LY Productions Inc.	Canada (B.C.)
Mars Film Produzione S.P.A. (in liquidation)	Italy
Mayday Productions Inc.	Canada (Ontario)
New Coral Ltd.	Cayman Islands
New Providence Assurance Company Limited	Bahamas
Outdoor Systems Americas HoldCo Sub Cooperatief U.A.	Netherlands
Outdoor Systems Americas Netherlands NewCo B.V.	Netherlands
Outdoor Systems Americas ULC	Canada
PC Home Cayman Ltd.	Cayman Islands
Platinum Television Productions Inc.	Canada (Ontario)
Pocket Books of Canada, Ltd.	Canada (Federal)
Prospect Company Ltd.	Cayman Islands
PTC Holdings C.V.	Netherlands
Publibus S.A.	Uruguay

Subsidiary Name	Place of Incorporation
R.G.L. Realty Limited	United Kingdom
Raianna Productions Inc.	Canada (Federal)
Republic Pictures Corporation of Canada Ltd.	Canada (Ontario)
Sagia Productions Inc.	Canada (Ontario)
Season Four Sentinel Productions Inc.	Canada (B.C.)
Season Three Viper Productions Inc.	Canada (B.C.)
Season Two CI Productions Inc.	Canada (Federal)
Sentinel Productions Inc.	Canada (Ontario)
Servicios Administrativos America S. de RL de C.V.	Mexico
SF Films Inc.	Canada (Ontario)
Showtime Distribution B.V.	Netherlands
Showtime UK Holdings Limited	United Kingdom
Simon & Schuster (Australia) Pty. Limited	Australia
Simon & Schuster (UK) Limited	UK
Simon & Schuster of Canada (1976) Ltd.	Canada (Federal)
Simon & Schuster Publishers India Private Limited	India
Spelling Television (Canada) Inc.	Canada (Ontario)
Spelling Television Quebec Inc.	Canada (Federal)
Split Decision Productions Inc.	Canada (B.C.)
St. Francis Ltd.	Cayman Islands
St. Ives Company Ltd.	Cayman Islands
Streak Productions Inc.	Canada (Ontario)
SU 2 Productions Inc.	Canada (Federal)
TB Productions Inc.	Canada (Ontario)
Tech Midia Publicidade e Comunicacao S.A.	Brazil
Tele-Vu Ltee.	Canada (Federal)
TMI International B.V.	Netherlands
Tower Films Inc.	Canada (Ontario)
Two of Us Films Inc.	Canada (Ontario)
Ultra Productions Inc.	Canada (Ontario)
VBC Pilot Productions Inc.	Canada (B.C.)
Vendor Publicidad Exterior S de RL de CV	Mexico
Viper Productions Inc.	Canada (B.C.)
Westinghouse Corporate Resources	United Kingdom
Winning Productions Inc.	Canada (Ontario)
Woburn Insurance Ltd.	Bermuda
Worldvision Enterprises (France) SARL	France
Worldvision Enterprises de Venezuela	Venezuela
Worldvision Enterprises Latino-Americana, S.A.	Panama
Worldvision Filmes do Brasil, Ltda.	Brazil
WVI Films B.V.	Netherlands
YP Productions Inc.	Canada (Ontario)

*Pursuant to Item 601(b)(21)(ii) of Regulation S-K, the names of other subsidiaries of CBS Corporation are omitted because, considered in the aggregate, they would not constitute a significant subsidiary as of the end of the fiscal year covered by this Annual Report on Form 10-K.

EX-23.(A)

Exhibit 23(a)

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

We hereby consent to the incorporation by reference in the Registration Statements on Form S-3 (No. 333-177706) and Forms S-8 (No. 333-139248, No. 333-124172, No. 333-36440, No. 333-55346, No. 333-75752, No. 333-82422, No. 333-152342, No. 333-164441 and No. 333-192673)  of CBS Corporation of our report dated February 14, 2014 relating to the consolidated financial statements, financial statement schedule, and the effectiveness of internal control over financial reporting, which appears in this Form 10-K.

/s/PricewaterhouseCoopers LLP

New York, New York

February 14, 2014

EX-24

Exhibit 24

CBS CORPORATION

POWER OF ATTORNEY

KNOW ALL PERSONS BY THESE PRESENTS, that I, the undersigned director and/or officer of CBS Corporation, a Delaware corporation (the “Company”), hereby constitute and appoint Lawrence P. Tu and Angeline C. Straka, and each of them, my true and lawful attorneys-in-fact and agents, with full power to act, together or each without the other, for me and in my name, place and stead, in any and all capacities, to sign the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013 (and any and all amendments thereto) (the “2013 Form 10K”); and to file said 2013 Form 10K, so signed with all exhibits thereto, and with any and all other documents in connection therewith, with the U.S. Securities and Exchange Commission, hereby granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform any and all acts and things requisite and necessary to be done in and about the premises, as fully for all intents and purposes as I might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them may lawfully do or cause to be done by virtue hereof.

IN WITNESS WHEREOF, I, the undersigned, have executed this Power of Attorney as of this 14th day of February, 2014.

Sign:	/s/ David R. Andelman
Print Name:  David R. Andelman

CBS CORPORATION

POWER OF ATTORNEY

KNOW ALL PERSONS BY THESE PRESENTS, that I, the undersigned director and/or officer of CBS Corporation, a Delaware corporation (the “Company”), hereby constitute and appoint Lawrence P. Tu and Angeline C. Straka, and each of them, my true and lawful attorneys-in-fact and agents, with full power to act, together or each without the other, for me and in my name, place and stead, in any and all capacities, to sign the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013 (and any and all amendments thereto) (the “2013 Form 10K”); and to file said 2013 Form 10K, so signed with all exhibits thereto, and with any and all other documents in connection therewith, with the U.S. Securities and Exchange Commission, hereby granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform any and all acts and things requisite and necessary to be done in and about the premises, as fully for all intents and purposes as I might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them may lawfully do or cause to be done by virtue hereof.

IN WITNESS WHEREOF, I, the undersigned, have executed this Power of Attorney as of this 14th day of February, 2014.

Sign:	/s/ Joseph A. Califano, Jr.
Print Name:  Joseph A. Califano, Jr.

CBS CORPORATION

POWER OF ATTORNEY

KNOW ALL PERSONS BY THESE PRESENTS, that I, the undersigned director and/or officer of CBS Corporation, a Delaware corporation (the “Company”), hereby constitute and appoint Lawrence P. Tu and Angeline C. Straka, and each of them, my true and lawful attorneys-in-fact and agents, with full power to act, together or each without the other, for me and in my name, place and stead, in any and all capacities, to sign the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013 (and any and all amendments thereto) (the “2013 Form 10K”); and to file said 2013 Form 10K, so signed with all exhibits thereto, and with any and all other documents in connection therewith, with the U.S. Securities and Exchange Commission, hereby granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform any and all acts and things requisite and necessary to be done in and about the premises, as fully for all intents and purposes as I might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them may lawfully do or cause to be done by virtue hereof.

IN WITNESS WHEREOF, I, the undersigned, have executed this Power of Attorney as of this 14th day of February, 2014.

Sign:	/s/ William S. Cohen
Print Name:  William S. Cohen

CBS CORPORATION

POWER OF ATTORNEY

KNOW ALL PERSONS BY THESE PRESENTS, that I, the undersigned director and/or officer of CBS Corporation, a Delaware corporation (the “Company”), hereby constitute and appoint Lawrence P. Tu and Angeline C. Straka, and each of them, my true and lawful attorneys-in-fact and agents, with full power to act, together or each without the other, for me and in my name, place and stead, in any and all capacities, to sign the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013 (and any and all amendments thereto) (the “2013 Form 10K”); and to file said 2013 Form 10K, so signed with all exhibits thereto, and with any and all other documents in connection therewith, with the U.S. Securities and Exchange Commission, hereby granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform any and all acts and things requisite and necessary to be done in and about the premises, as fully for all intents and purposes as I might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them may lawfully do or cause to be done by virtue hereof.

IN WITNESS WHEREOF, I, the undersigned, have executed this Power of Attorney as of this 14th day of February, 2014.

Sign:	/s/ Gary L. Countryman
Print Name:  Gary L. Countryman

CBS CORPORATION

POWER OF ATTORNEY

KNOW ALL PERSONS BY THESE PRESENTS, that I, the undersigned director and/or officer of CBS Corporation, a Delaware corporation (the “Company”), hereby constitute and appoint Lawrence P. Tu and Angeline C. Straka, and each of them, my true and lawful attorneys-in-fact and agents, with full power to act, together or each without the other, for me and in my name, place and stead, in any and all capacities, to sign the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013 (and any and all amendments thereto) (the “2013 Form 10K”); and to file said 2013 Form 10K, so signed with all exhibits thereto, and with any and all other documents in connection therewith, with the U.S. Securities and Exchange Commission, hereby granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform any and all acts and things requisite and necessary to be done in and about the premises, as fully for all intents and purposes as I might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them may lawfully do or cause to be done by virtue hereof.

IN WITNESS WHEREOF, I, the undersigned, have executed this Power of Attorney as of this 14th day of February, 2014.

Sign:	/s/ Charles K. Gifford
Print Name:  Charles K. Gifford

CBS CORPORATION

POWER OF ATTORNEY

KNOW ALL PERSONS BY THESE PRESENTS, that I, the undersigned director and/or officer of CBS Corporation, a Delaware corporation (the “Company”), hereby constitute and appoint Lawrence P. Tu and Angeline C. Straka, and each of them, my true and lawful attorneys-in-fact and agents, with full power to act, together or each without the other, for me and in my name, place and stead, in any and all capacities, to sign the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013 (and any and all amendments thereto) (the “2013 Form 10K”); and to file said 2013 Form 10K, so signed with all exhibits thereto, and with any and all other documents in connection therewith, with the U.S. Securities and Exchange Commission, hereby granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform any and all acts and things requisite and necessary to be done in and about the premises, as fully for all intents and purposes as I might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them may lawfully do or cause to be done by virtue hereof.

IN WITNESS WHEREOF, I, the undersigned, have executed this Power of Attorney as of this 14th day of February, 2014.

Sign:	/s/ Leonard Goldberg
Print Name:  Leonard Goldberg

CBS CORPORATION

POWER OF ATTORNEY

KNOW ALL PERSONS BY THESE PRESENTS, that I, the undersigned director and/or officer of CBS Corporation, a Delaware corporation (the “Company”), hereby constitute and appoint Lawrence P. Tu and Angeline C. Straka, and each of them, my true and lawful attorneys-in-fact and agents, with full power to act, together or each without the other, for me and in my name, place and stead, in any and all capacities, to sign the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013 (and any and all amendments thereto) (the “2013 Form 10K”); and to file said 2013 Form 10K, so signed with all exhibits thereto, and with any and all other documents in connection therewith, with the U.S. Securities and Exchange Commission, hereby granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform any and all acts and things requisite and necessary to be done in and about the premises, as fully for all intents and purposes as I might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them may lawfully do or cause to be done by virtue hereof.

IN WITNESS WHEREOF, I, the undersigned, have executed this Power of Attorney as of this 14th day of February, 2014.

Sign:	/s/ Bruce S. Gordon
Print Name:  Bruce S. Gordon

CBS CORPORATION

POWER OF ATTORNEY

KNOW ALL PERSONS BY THESE PRESENTS, that I, the undersigned director and/or officer of CBS Corporation, a Delaware corporation (the “Company”), hereby constitute and appoint Lawrence P. Tu and Angeline C. Straka, and each of them, my true and lawful attorneys-in-fact and agents, with full power to act, together or each without the other, for me and in my name, place and stead, in any and all capacities, to sign the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013 (and any and all amendments thereto) (the “2013 Form 10K”); and to file said 2013 Form 10K, so signed with all exhibits thereto, and with any and all other documents in connection therewith, with the U.S. Securities and Exchange Commission, hereby granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform any and all acts and things requisite and necessary to be done in and about the premises, as fully for all intents and purposes as I might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them may lawfully do or cause to be done by virtue hereof.

IN WITNESS WHEREOF, I, the undersigned, have executed this Power of Attorney as of this 14th day of February, 2014.

Sign:	/s/ Linda M. Griego
Print Name:  Linda M. Griego

CBS CORPORATION

POWER OF ATTORNEY

KNOW ALL PERSONS BY THESE PRESENTS, that I, the undersigned director and/or officer of CBS Corporation, a Delaware corporation (the “Company”), hereby constitute and appoint Lawrence P. Tu and Angeline C. Straka, and each of them, my true and lawful attorneys-in-fact and agents, with full power to act, together or each without the other, for me and in my name, place and stead, in any and all capacities, to sign the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013 (and any and all amendments thereto) (the “2013 Form 10K”); and to file said 2013 Form 10K, so signed with all exhibits thereto, and with any and all other documents in connection therewith, with the U.S. Securities and Exchange Commission, hereby granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform any and all acts and things requisite and necessary to be done in and about the premises, as fully for all intents and purposes as I might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them may lawfully do or cause to be done by virtue hereof.

IN WITNESS WHEREOF, I, the undersigned, have executed this Power of Attorney as of this 14th day of February, 2014.

Sign:	/s/ Arnold Kopelson
Print Name:  Arnold Kopelson

CBS CORPORATION

POWER OF ATTORNEY

KNOW ALL PERSONS BY THESE PRESENTS, that I, the undersigned director and/or officer of CBS Corporation, a Delaware corporation (the “Company”), hereby constitute and appoint Lawrence P. Tu and Angeline C. Straka, and each of them, my true and lawful attorneys-in-fact and agents, with full power to act, together or each without the other, for me and in my name, place and stead, in any and all capacities, to sign the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013 (and any and all amendments thereto) (the “2013 Form 10K”); and to file said 2013 Form 10K, so signed with all exhibits thereto, and with any and all other documents in connection therewith, with the U.S. Securities and Exchange Commission, hereby granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform any and all acts and things requisite and necessary to be done in and about the premises, as fully for all intents and purposes as I might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them may lawfully do or cause to be done by virtue hereof.

IN WITNESS WHEREOF, I, the undersigned, have executed this Power of Attorney as of this 14th day of February, 2014.

Sign:	/s/ Doug Morris
Print Name:  Doug Morris

CBS CORPORATION

POWER OF ATTORNEY

KNOW ALL PERSONS BY THESE PRESENTS, that I, the undersigned director and/or officer of CBS Corporation, a Delaware corporation (the “Company”), hereby constitute and appoint Lawrence P. Tu and Angeline C. Straka, and each of them, my true and lawful attorneys-in-fact and agents, with full power to act, together or each without the other, for me and in my name, place and stead, in any and all capacities, to sign the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013 (and any and all amendments thereto) (the “2013 Form 10K”); and to file said 2013 Form 10K, so signed with all exhibits thereto, and with any and all other documents in connection therewith, with the U.S. Securities and Exchange Commission, hereby granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform any and all acts and things requisite and necessary to be done in and about the premises, as fully for all intents and purposes as I might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them may lawfully do or cause to be done by virtue hereof.

IN WITNESS WHEREOF, I, the undersigned, have executed this Power of Attorney as of this 14th day of February, 2014.

Sign:	/s/ Shari Redstone
Print Name:  Shari Redstone

CBS CORPORATION

POWER OF ATTORNEY

KNOW ALL PERSONS BY THESE PRESENTS, that I, the undersigned director and/or officer of CBS Corporation, a Delaware corporation (the “Company”), hereby constitute and appoint Lawrence P. Tu and Angeline C. Straka, and each of them, my true and lawful attorneys-in-fact and agents, with full power to act, together or each without the other, for me and in my name, place and stead, in any and all capacities, to sign the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013 (and any and all amendments thereto) (the “2013 Form 10K”); and to file said 2013 Form 10K, so signed with all exhibits thereto, and with any and all other documents in connection therewith, with the U.S. Securities and Exchange Commission, hereby granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform any and all acts and things requisite and necessary to be done in and about the premises, as fully for all intents and purposes as I might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them may lawfully do or cause to be done by virtue hereof.

IN WITNESS WHEREOF, I, the undersigned, have executed this Power of Attorney as of this 14th day of February, 2014.

Sign:	/s/ Sumner M. Redstone
Print Name:  Sumner M. Redstone

CBS CORPORATION

POWER OF ATTORNEY

KNOW ALL PERSONS BY THESE PRESENTS, that I, the undersigned director and/or officer of CBS Corporation, a Delaware corporation (the “Company”), hereby constitute and appoint Lawrence P. Tu and Angeline C. Straka, and each of them, my true and lawful attorneys-in-fact and agents, with full power to act, together or each without the other, for me and in my name, place and stead, in any and all capacities, to sign the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013 (and any and all amendments thereto) (the “2013 Form 10K”); and to file said 2013 Form 10K, so signed with all exhibits thereto, and with any and all other documents in connection therewith, with the U.S. Securities and Exchange Commission, hereby granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform any and all acts and things requisite and necessary to be done in and about the premises, as fully for all intents and purposes as I might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them may lawfully do or cause to be done by virtue hereof.

IN WITNESS WHEREOF, I, the undersigned, have executed this Power of Attorney as of this 14th day of February, 2014.

Sign:	/s/ Frederic V. Salerno
Print Name:  Frederic V. Salerno

EX-31.(A)

Exhibit 31(a)

CERTIFICATION

I, Leslie Moonves, certify that:

1.I have reviewed this annual report on Form 10-K of CBS Corporation;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: February 14, 2014

 /s/ Leslie Moonves

Leslie Moonves

President and Chief Executive Officer

EX-31.(B)

Exhibit 31(b)

CERTIFICATION

I, Joseph R. Ianniello, certify that:

1.I have reviewed this annual report on Form 10-K of CBS Corporation;

2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b)Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d)Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a)All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b)Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: February 14, 2014

 /s/ Joseph R. Ianniello

Joseph R. Ianniello

Chief Operating Officer

EX-32.(A)

Exhibit 32(a)

Certification Pursuant to 18 U.S.C.  Section 1350,

as adopted pursuant to

Section 906 of the Sarbanes-Oxley Act of 2002

In connection with the Annual Report of CBS Corporation (the “Company”) on Form 10-K for the year ended December 31, 2013 as filed with the Securities and Exchange Commission (the “Report”), I, Leslie Moonves, President and Chief Executive Officer of the Company, certify that to my knowledge:

1.         the Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2.         the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 /s/ Leslie Moonves

Leslie Moonves

February 14, 2014

EX-32.(B)

Exhibit 32(b)

Certification Pursuant to 18 U.S.C.  Section 1350,

as adopted pursuant to

Section 906 of the Sarbanes-Oxley Act of 2002

In connection with the Annual Report of CBS Corporation (the “Company”) on Form 10-K for the year ended December 31, 2013 as filed with the Securities and Exchange Commission (the “Report”), I, Joseph R. Ianniello, Chief Financial Officer of the Company, certify that to my knowledge:

1.         the Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

2.         the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

 /s/ Joseph R. Ianniello

Joseph R. Ianniello

February 14, 2014

XML

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

XML

Related Parties (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	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

XML

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%

XML

Pension and Other Postretirement Benefits (Change In Plan Assets) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	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

XML

Investments (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	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

XML

Pension and Other Postretirement Benefit (Future Benefit Payments and Contributions) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	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	Jun. 30, 2014
AFTRA Retirement Plan [Member] | Maximum [Member]
Multiemployer Pension Plans [Line Items]
Expiration date of collective bargaining agreement	Nov. 15, 2014
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	Jun. 30, 2017
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	May 01, 2014
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	Jun. 30, 2014
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	May 15, 2015
Motion Picture Industry [Member] | Maximum [Member]
Multiemployer Pension Plans [Line Items]
Expiration date of collective bargaining agreement	Mar. 02, 2016
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

XML

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.

XML

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

XML

Commitments and Contingencies (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	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

XML

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%

XML

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

XML

Pension and Other Postretirement Benefits (Fair Value Measurements) (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
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

XML

Supplemental Cash Flow Information (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	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

XML

Pension and Other Postretirement Benefit (Fair Value Measurements Level 3 Rollforward) (Details) (Level 3 [Member], USD $) In Millions, unless otherwise specified	12 Months Ended
	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

XML

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

XML

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		$	.75	$	.78	$	.78	$	.78	$	3.08
	Net earnings		$	.71	$	.78	$	.82	$	.78	$	3.09
Diluted net earnings per common share:
	Net earnings from continuing operations		$	.73	$	.76	$	.76	$	.76	$	3.00
	Net earnings		$	.69	$	.76	$	.80	$	.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			$	.12	$	.12	$	.12	$	.12	$	.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		$	.61	$	.70	$	.60	$	.64	$	2.55
	Net earnings		$	.56	$	.66	$	.61	$	.62	$	2.45
Diluted net earnings per common share:
	Net earnings from continuing operations		$	.59	$	.68	$	.59	$	.62	$	2.48
	Net earnings		$	.54	$	.65	$	.60	$	.60	$	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			$	.10	$	.10	$	.12	$	.12	$	.44

• During 2013, the Company completed the sale of Outdoor Europewhich has been presented as a discontinued operation in the consolidated financial statements for all periods presented.

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Discontinued Operations (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	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

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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.

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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%

XML

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

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Restructuring Charges (Rollforward) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended			36 Months Ended
	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

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Income Taxes (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	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

XML

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

XML

Basis of Presentation and Summary of Significant Accounting Policies (Details) (USD $) Share data in Millions, unless otherwise specified	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
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

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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 assessmentsforseven 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 2013was 3.0% for CBS Interactive and 1.5% for CBS Radio. The discount rates, which for 2013 were9.5% 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 2013annual 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 2013was 8.0% and the perpetual nominal growth rates used were 2.5% and 1.5%, respectively.

For its 2013annual 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
	December 31, 2012		Acquisitions			Dispositions			Other (a)	December 31, 2013
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
	December 31, 2011		Acquisitions			Dispositions		Impairment			Other (a)	December 31, 2012
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

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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

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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

XML

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

XML

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 earnedand 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 programmingonce 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 totelevision 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 andthe 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.

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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	8.875%
Senior Debentures 2016 [Member]
Debt Instrument [Line Items]
Carrying value of senior debt	200,000,000	200,000,000
Stated interest rate	7.625%
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	4.625%
Senior Notes 2019 [Member]
Debt Instrument [Line Items]
Carrying value of senior debt	592,000,000	591,000,000
Stated interest rate	8.875%
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	3.375%
Debentures 2023 [Member]
Debt Instrument [Line Items]
Carrying value of senior debt	224,000,000	224,000,000
Stated interest rate	7.875%
Senior Notes 2023 [Member]
Debt Instrument [Line Items]
Carrying value of senior debt	52,000,000	52,000,000
Stated interest rate	7.125%
Senior Debentures 2030 [Member]
Debt Instrument [Line Items]
Carrying value of senior debt	1,270,000,000	1,271,000,000
Stated interest rate	7.875%
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

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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		$	.75	$	.78	$	.78	$	.78	$	3.08
	Net earnings		$	.71	$	.78	$	.82	$	.78	$	3.09
Diluted net earnings per common share:
	Net earnings from continuing operations		$	.73	$	.76	$	.76	$	.76	$	3.00
	Net earnings		$	.69	$	.76	$	.80	$	.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			$	.12	$	.12	$	.12	$	.12	$	.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		$	.61	$	.70	$	.60	$	.64	$	2.55
	Net earnings		$	.56	$	.66	$	.61	$	.62	$	2.45
Diluted net earnings per common share:
	Net earnings from continuing operations		$	.59	$	.68	$	.59	$	.62	$	2.48
	Net earnings		$	.54	$	.65	$	.60	$	.60	$	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			$	.10	$	.10	$	.12	$	.12	$	.44

• During 2013, the Company completed the sale of Outdoor Europewhich has been presented as a discontinued operation in the consolidated financial statements for all periods presented.

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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
	December 31, 2012		Acquisitions			Dispositions			Other (a)	December 31, 2013
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
	December 31, 2011		Acquisitions			Dispositions		Impairment			Other (a)	December 31, 2012
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

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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)

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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 earnedand 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 programmingonce 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), $369million (2012) and $374million (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 $131million 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 totelevision 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 andthe 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 $15million (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, stockoptions to purchase 2 million,4 million and 21million 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 —Thefollowing 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, $80million and $77million, 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 provisionrelated 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.

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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
		December 31, 2012		Charges		Payments		December 31, 2013
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
		December 31, 2011		Charges		Payments		December 31, 2012
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

XML

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

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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	%	4.0	%	4.5	%	4.0	%
	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	4.0	%	4.9	%	4.0	%	4.9	%
	Expected long-term return on plan assets	6.5	%	6.6	%	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 [Table Text Block]

	2013		2012
Projected health care cost trend rate for participants of age 65 and below	7.5	%	8.0	%
Projected health care cost trend rate for participants above age 65	7.5	%	8.0	%
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 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.
• Includesinvestments 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	6/30/2017
Producer-Writers Guild of America		95-2216351-001		Green	Green		8		8		6	5/1/2014
Screen Actors Guild - Producers		95-2110997-001		Green	Green		7		6		6	6/30/2014
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.

XML

Programming and Other Inventory (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
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

XML

Pension and Other Postretirement Benefits (Components of Net Periodic Benefit Cost and Amounts Recognized in Other Comprehensive Income (Loss) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	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

XML

Consolidated Statements of Operations (USD $) Share data in Millions, except Per Share data, unless otherwise specified	12 Months Ended
	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)	$ 3.00	$ 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

XML

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

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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

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Financial Instruments (Details) (USD $)						12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013 Commercial Paper [Member]	Jan. 31, 2014 Subsequent Event [Member] Outdoor Americas Segment [Member]	Jan. 31, 2014 Subsequent Event [Member] Outdoor Americas Segment [Member] Term Loan Due 2021 [Member]	Dec. 31, 2013 Other Items Net [Member]	Dec. 31, 2012 Other Items Net [Member]	Dec. 31, 2011 Other Items Net [Member]	Dec. 31, 2013 Cash Flow Hedge [Member]	Dec. 31, 2012 Cash Flow Hedge [Member]	Dec. 31, 2013 Not Designated as Hedging Instrument [Member] Other Current Liabilities [Member] Cash Flow Hedge [Member]	Dec. 31, 2012 Not Designated as Hedging Instrument [Member] Other Current Liabilities [Member] Cash Flow Hedge [Member]	Dec. 31, 2013 Not Designated as Hedging Instrument [Member] Other Current Assets [Member] Cash Flow Hedge [Member]	Dec. 31, 2012 Not Designated as Hedging Instrument [Member] Other Current Assets [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%

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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 $18million and $23 million, respectively. The face value of the Company's total debt was $6.44billion 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

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Stockholders' Equity (Other Information) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	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

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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 OIBDAis 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.

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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

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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

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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	Dec. 31, 2033
Minimum [Member]
Operating Loss Carryforwards [Line Items]
Net operating loss carryforward expiration date	Jan. 01, 2014

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Consolidated Statements of Stockholders' Equity (USD $) In Millions, except Share data	Total	Common Stock Class A Common Stock	Common Stock Class B Common Stock	Additional Paid In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Treasury Stock, at cost
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

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Consolidated Statements of Comprehensive Income (USD $) In Millions, unless otherwise specified	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
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

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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.

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Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2013	Jun. 28, 2013	Feb. 11, 2014 Class A Common Stock	Jun. 28, 2013 Class A Common Stock	Feb. 11, 2014 Class B Common Stock	Jun. 28, 2013 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	Dec. 31, 2013
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

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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, $287million 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 45.8million 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 $35.54per 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 2012and .2million 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 61million 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, 2013was $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		40.70
	Vested		(7,355,952)		16.32
	Forfeited		(576,040)		28.54
Non-vested at December 31, 2013			9,519,224	$	31.20

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 ofDecember 31, 2013 and 2012, the Company had 2millionstock option equivalents outstanding.

       The weighted average fair value of stock options as of the grant date was $12.11, $9.05 and $7.59in 2013, 2012and 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	%	2.00	%
Expected stock price volatility	34.86	%	39.09	%	41.17	%
Risk-free interest rate	.97	%	.94	%	2.33	%
Expected term of options (years)	5.00		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		44.30
	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	$	13.80	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, 2013stock 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 $1.09billion. At December 31, 2013stock 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.

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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

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Consolidated Balance Sheets (USD $) In Millions, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
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

XML

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

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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 $14millionof 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 $22million of severance costs and $40 million of costs associated with exiting contractual obligations.As of December 31, 2013, the cumulative amount paid for the2013, 2012and 2011restructuring charges was $57 million, of which $23 million was forthe severance costs and $34 million related tocosts 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
		December 31, 2012		Charges		Payments		December 31, 2013
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
		December 31, 2011		Charges		Payments		December 31, 2012
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

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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.

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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 benefitof $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 2011were $29 million, $22 million, and $24 million, respectively, which represented an effective tax rate of 38.8%for 2013, 2012, and 2011.

       In 2013and 2012, the Company realized tax benefits from the exercise of stock options and vesting of RSUs and PSUs of $210million 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 $81million 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 $644million and $249 million, respectively, principally relating to income tax benefits fromcapital 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 $4.04billion at December 31, 2013 and $3.54billion 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, $52million and $56million, 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, 2013includes $113millionwhich 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 $12million, $13million 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 $57million and $62million, 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 2011and 2012 in the fourth quarter of 2013. During the next twelve months the Company expects to settle anaudit in a foreign jurisdiction related to a previously disposed business that is accounted for as adiscontinued operation. In addition, various tax years are currently under examination by state andlocal and other foreign tax authorities. With respect to open tax years in all jurisdictions, the Companycurrently believes that it is reasonably possible that the reserve for uncertain tax positions will decreasewithin the next twelve months; however, as it is difficult to predict the final outcome of any particulartax matter, an estimate of any related impact to the reserve for uncertain tax positions cannot currentlybe determined.

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Valuation and Qualifying Accounts (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	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

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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 $18million and $23 million, respectively. The face value of the Company's total debt was $6.44billion 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 $1.99billion.

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.

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Fair Value Measurements (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	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

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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 ViacomInc. 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 $195million, $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 Companyplaces advertisements with, leases production facilities from, and purchases other goods and services from various subsidiaries of Viacom Inc. The total amounts forthese transactions were $21 million, $26 millionand $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 PartiesThe 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 intransactions with other related parties that have not been material in any of the periods presented.

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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 includinga 49% interest in a joint venture with a subsidiary of AMC Networks Inc.,which owns and operates six cable and satellite channelsin 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 $16million and $10million 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, $91million and $79million 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.

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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 $5.86billion, 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 $7.16billion, 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 millionand $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.

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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

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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

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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

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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

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Restructuring Charges (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended			36 Months Ended	12 Months Ended	24 Months Ended	36 Months Ended	12 Months Ended	24 Months Ended	36 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2013	Dec. 31, 2013 Severance Costs [Member]	Dec. 31, 2012 Severance Costs [Member]	Dec. 31, 2013 Severance Costs [Member]	Dec. 31, 2013 Contract Termination and Other Associated Costs [Member]	Dec. 31, 2012 Contract Termination and Other Associated Costs [Member]	Dec. 31, 2013 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

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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 $11.23billion 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 $1.05billion 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 obligationsnot 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 displayswithin 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 $483million (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 $321million 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.

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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

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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

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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

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Consolidated Balance Sheets (Parenthetical) (USD $) In Millions, except Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
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)	$ 0.001	$ 0.001
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)	$ 0.001	$ 0.001
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

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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 2012include 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$172million primarily relate to the above mentioned aircraft leases and tax reserves related to previously disposed businesses.

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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 Revolving Credit Facility [Member]	Mar. 31, 2014 Subsequent Event [Member] Outdoor Americas Segment [Member]	Jan. 31, 2014 Subsequent Event [Member] Outdoor Americas Segment [Member]	Mar. 31, 2014 Subsequent Event [Member] Outdoor Americas Segment [Member] Use Of Debt Proceeds [Member]	Dec. 31, 2013 Subsequent Event [Member] Outdoor Americas Segment [Member] Revolving Credit Facility [Member]	Feb. 14, 2014 Subsequent Event [Member] Outdoor Americas Segment [Member] Revolving Credit Facility [Member]	Jan. 31, 2014 Subsequent Event [Member] Outdoor Americas Segment [Member] Revolving Credit Facility [Member]	Jan. 31, 2014 Subsequent Event [Member] Outdoor Americas Segment [Member] Senior Notes [Member]	Dec. 31, 2013 Subsequent Event [Member] Outdoor Americas Segment [Member] Term Loan Due 2021 [Member]	Jan. 31, 2014 Subsequent Event [Member] Outdoor Americas Segment [Member] Term Loan Due 2021 [Member]	Jan. 31, 2014 Subsequent Event [Member] Outdoor Americas Segment [Member] Senior Notes Due 2022 [Member]	Jan. 31, 2014 Subsequent Event [Member] Outdoor Americas Segment [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%	5.625%
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

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Quarterly Financial Data (unaudited) (Details) (USD $) Share data in Millions, except Per Share data, unless otherwise specified	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
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	$ 3.00	$ 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)

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Pension and Other Postretirement Benefits (Change in Benefit Obligation) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	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

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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.

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Pension and Other Postretirement Benefits (Sensitivity) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	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)

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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		40.70
	Vested		(7,355,952)		16.32
	Forfeited		(576,040)		28.54
Non-vested at December 31, 2013			9,519,224	$	31.20

Weighted average assumptions for Black-Scholes option pricing model [Table Text Block]

	2013		2012		2011
Expected dividend yield	1.49	%	1.92	%	2.00	%
Expected stock price volatility	34.86	%	39.09	%	41.17	%
Risk-free interest rate	.97	%	.94	%	2.33	%
Expected term of options (years)	5.00		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		44.30
	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	$	13.80	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

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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 $595million 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 $2million, respectively, will be amortized from accumulated other comprehensive income (loss) into net periodic benefit costs in 2014.

Estimated net actuarial gains and prior service creditsrelated 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	%	4.0	%	4.5	%	4.0	%
	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	4.0	%	4.9	%	4.0	%	4.9	%
	Expected long-term return on plan assets	6.5	%	6.6	%	2.0	%	2.0	%
	Rate of compensation increase	3.0	%	3.0	%	N/A		N/A
	N/A - not applicable

The discount rates are determined based on the yield on portfoliosof 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	%	8.0	%
Projected health care cost trend rate for participants above age 65	7.5	%	8.0	%
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

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 reviewedregularly.

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.
• Includesinvestments 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 millionat both December 31, 2013 and 2012 were invested in U.S. fixed income index funds, whichare 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	6/30/2017
Producer-Writers Guild of America		95-2216351-001		Green	Green		8		8		6	5/1/2014
Screen Actors Guild - Producers		95-2110997-001		Green	Green		7		6		6	6/30/2014
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, $19million and $20million 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.