8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 8, 2014

CBS CORPORATION

(Exact name of registrant as specified in its charter)

Delaware	001-09553	04-2949533
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification Number)

51 West 52nd Street New York, New York	10019
(Address of principal executive offices)	(zip code)

Registrant’s telephone number, including area code: (212) 975-4321

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events.

On July 16, 2014, CBS Corporation (the “Company” or “CBS Corp.”) completed the disposition of its approximately 81% ownership of CBS Outdoor Americas Inc. (“Outdoor Americas”) common stock through a tax-free split-off (the “Split-Off”).  In connection with the Split-Off, the Company accepted 44,723,131 shares of CBS Corp. Class B Common Stock from its stockholders in exchange for the 97,000,000 shares of Outdoor Americas common stock that it owned.  As a result, in the second quarter of 2014 Outdoor Americas was presented as a discontinued operation in the Company’s consolidated financial statements. Accordingly, the Company has recast its consolidated financial statements to present Outdoor Americas as a discontinued operation.

Exhibit 99.1 of this Current Report on Form 8-K presents a recast of the following sections of the Company’s Annual Report on Form 10-K for the year ended December 31, 2013 (“Form 10-K”) to present Outdoor Americas as a discontinued operation:  Item 6. Selected Financial Data, Item 7. Management’s Discussion and Analysis of Results of Operations and Financial Condition, and Item 8. Financial Statements and Supplementary Data.   Except for information and events related to the Split-Off, no revisions have been made to the Company’s Form 10-K to update for other information, developments or events that have occurred since the Company’s Form 10-K was filed on February 14, 2014.

This Current Report on Form 8-K should be read in conjunction with the Company’s Form 10-K, First Quarter 2014 Form 10-Q, Second Quarter 2014 Form 10-Q and other filings with the SEC. These SEC filings contain important information regarding events, developments and updates affecting the Company and its expectations that have occurred since the filing of the Form 10-K.

Item 9.01 Financial Statements and Exhibits.

(d)  Exhibits.    The following Exhibits are filed as part of this Report on Form 8-K:

Exhibit Number	Description of Exhibit
23.1	Consent of PricewaterhouseCoopers LLP, independent registered public accounting firm.
99.1	Recast of CBS Corporation’s Selected Financial Data, Consolidated Financial Statements and notes thereto as of December 31, 2013 and 2012 and for each of the years ended December 31, 2013, 2012 and 2011, and the related Management’s Discussion and Analysis of Results of Operations and Financial Condition.
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.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

CBS CORPORATION
(Registrant)
By:	/s/ Joseph R. Ianniello
	Name: Joseph R. Ianniello
	Title: Chief Operating Officer

Date:  August 8, 2014

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EX-23.1

Exhibit 23.1

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, except with respect to our opinion on the consolidated financial statements insofar as it relates to  the effects of the discontinued operations presentation of Outdoor Americas  discussed  in Note 3, as to which the date is August 8, 2014 relating to the consolidated financial statements, financial statement schedule, and the effectiveness of internal control over financial reporting, which appears in this Current Report on Form 8-K  dated August 8, 2014.

/s/PricewaterhouseCoopers LLP
New York, New York
August 8, 2014

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EX-99.1

Exhibit 99.1

Item 6.  Selected Financial Data.

CBS CORPORATION AND SUBSIDIARIES

(In millions, except per share amounts)

	Year Ended December 31, (a)(b)
	2013		2012		2011		2010			2009 (c)
Revenues	$	14,005	$	12,820	$	12,381	$	12,271		$	11,325
Operating income	$	3,025	$	2,778	$	2,423	$	1,803		$	1,108
Net earnings from continuing operations	$	1,738	$	1,508	$	1,263	$	739		$	336
Net earnings (loss) from discontinued operations, net of tax	$	141	$	66	$	42	$	(15	)	$	(109	)
Net earnings	$	1,879	$	1,574	$	1,305	$	724		$	227
Basic net earnings (loss) per common share:
Net earnings from continuing operations	$	2.86	$	2.35	$	1.90	$	1.09		$	.50
Net earnings (loss) from discontinued operations	$	.23	$	.10	$	.06	$	(.02	)	$	(.16	)
Net earnings	$	3.09	$	2.45	$	1.97	$	1.07		$	.34
Diluted net earnings (loss) per common share:
Net earnings from continuing operations	$	2.79	$	2.29	$	1.85	$	1.06		$	.49
Net earnings (loss) from discontinued operations	$	.23	$	.10	$	.06	$	(.02	)	$	(.16	)
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	$	22,912	$	22,473	$	22,059	$	21,828		$	22,491
Discontinued operations	3,475		3,993		4,161		4,336			4,477
Total assets	$	26,387	$	26,466	$	26,220	$	26,164		$	26,968
Total debt:
Continuing operations	$	6,435	$	5,921	$	5,981	$	5,998		$	6,994
Discontinued operations	14		14		22		23			24
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 April 2, 2014, CBS Outdoor Americas Inc. (“Outdoor Americas”) completed an initial public offering through which it sold approximately 19% of its common stock and on July 16, 2014, CBS Corporation (the “Company”) disposed of its approximately 81% ownership of Outdoor Americas through a tax-free split-off. As a result, in the second quarter of 2014, Outdoor Americas was presented as a discontinued operation in the Company’s consolidated financial statements.  Accordingly, all prior periods have been recast to conform to this presentation.

(b)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”) for $225 million.  Outdoor Europe has been presented as a discontinued operation in the Company’s consolidated financial statements for all periods presented.

(c)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.

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 and interactive media. 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 $2.79 increased $.50, or 22%, from $2.29 for the same prior-year period, principally reflecting a 9% increase in both revenues and 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 5%, 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.

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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 $1.78 billion in 2013 and $1.51 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 $1.57 billion increased $262 million compared to $1.31 billion for 2012. Free cash flow is a non-GAAP financial measure. See “Reconciliation of Non-GAAP Financial Information” on page 10 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.

On April 2, 2014, CBS Outdoor Americas Inc. (“Outdoor Americas”) completed an initial public offering (“IPO”) through which it sold 23.0 million shares, or 19%, of its common stock for $28.00 per share. On July 16, 2014, the Company completed the disposition of its 81% ownership of Outdoor Americas common stock through a tax-free split-off. In connection with this transaction, the Company accepted 44.7 million shares of CBS Corp. Class B Common Stock from its shareholders in exchange for the 97.0 million shares of Outdoor Americas common stock that it owned. As a result, in the second quarter of 2014, Outdoor Americas was presented as a discontinued operation in the Company’s consolidated financial statements. All prior periods have been recast to conform to this presentation. During 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”) for $225 million. As a result, Outdoor Europe has been presented as a discontinued operation in the Company’s consolidated financial statements for all periods presented.

During January 2014, prior to the IPO, 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 were primarily used by the Company to repurchase 23.5 million shares of CBS Corp. Class B Common Stock through a $1.5 billion accelerated share repurchase (“ASR”) transaction.

CBS Corp. operates in the following four 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 62% to consolidated revenues in 2013 and 60% to consolidated revenues in each of 2012 and 2011, and 53%, 50% and 51% 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 15%, 14% and 13% to consolidated revenues in 2013, 2012 and 2011, respectively, and 29% to consolidated operating income in 2013 and 28% 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 6% to consolidated revenues in each of 2013, 2012 and 2011, and 4% to consolidated operating income in 2013 and 3% to consolidated operating income in each of 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 19% to consolidated revenues in 2013 and 22% to consolidated revenues in each of 2012 and 2011, and 27% to consolidated operating income in 2013 and 31% to consolidated operating income in each of 2012 and 2011.

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Management’s Discussion and Analysis of

Results of Operations and Financial Condition (Continued)

(Tabular dollars in millions, except per share amounts)

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					Increase/(Decrease)						Increase/(Decrease)
Year Ended December 31,	2013		2012		2013 vs. 2012				2011		2012 vs. 2011
Advertising	$	7,525	$	7,191	$	334	5	%	$	7,145	$	46	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	262		240		22		9		238		2		1
Total Revenues	$	14,005	$	12,820	$	1,185	9	%	$	12,381	$	439	4	%

	Year Ended December 31,
Percentage of Revenues by Type	2013		2012		2011
Advertising	54	%	56	%	58	%
Content licensing and distribution	29		27		26
Affiliate and subscription fees	15		15		14
Other	2		2		2
Total	100	%	100	%	100	%

Advertising sales increased 5% to $7.53 billion in 2013 from $7.19 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 $7.19 billion from $7.15 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. 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 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

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Management’s Discussion and Analysis of

Results of Operations and Financial Condition (Continued)

(Tabular dollars in millions, except per share amounts)

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. 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 and Local Broadcasting operations, increased 9% to $262 million in 2013 from $240 million in 2012, principally reflecting higher ancillary digital revenues. For 2012, other revenues increased 1% to $240 million from $238 million in 2011.

International Revenues

International revenues primarily consist of television licensing revenues. The Company generated approximately 13%, 12% and 11% of its total revenues from international regions in 2013, 2012 and 2011, respectively.

			% of			% of			% of
Year Ended December 31,	2013		International	2012		International	2011		International
United Kingdom	$	359	20 %	$	245	16 %	$	202	15 %
Other Europe	607		33	498		32	480		35
Canada	270		15	260		17	233		17
Asia	225		12	198		13	151		11
Other	366		20	344		22	291		22
Total International Revenues	$	1,827	100 %	$	1,545	100 %	$	1,357	100 %

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Management’s Discussion and Analysis of

Results of Operations and Financial Condition (Continued)

(Tabular dollars in millions, except per share amounts)

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					Increase/(Decrease)						Increase/(Decrease)
Year Ended December 31,	2013		2012		2013 vs. 2012				2011		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
Participation, distribution and royalty	1,112		1,004		108			11	1,065		(61		)	(6)
Other	1,474		1,490		(16		)	(1)	1,467		23			2
Total Operating Expenses	$	8,124	$	7,264	$	860		12 %	$	7,191	$	73		1 %

Programming expenses represented 38% of total operating expenses for 2013 and 36% 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.

Production expenses represented 31% of total operating expenses for 2013, 30% for 2012 and 29% for 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.

Participation, distribution and royalty costs, which represented 14% of total operating expenses in each of the years 2013 and 2012, and 15% 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 18% of total operating expenses in 2013, 21% for 2012 and 20% for 2011, primarily include compensation and costs associated with book sales, including printing and warehousing.  For 2013, other operating expenses decreased 1% to $1.47 billion from $1.49 billion in 2012. For

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Management’s Discussion and Analysis of

Results of Operations and Financial Condition (Continued)

(Tabular dollars in millions, except per share amounts)

2012, other operating expenses increased 2% to $1.49 billion from $1.47 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 $104 million, or 4%, to $2.55 billion from $2.44 billion in 2012 reflecting higher employee-related costs, mainly associated with $75 million higher stock-based compensation primarily from the increase in the Company’s stock price and an increase in selling expenses associated with higher revenues. These increases were partially offset by a 2012 charge related to a Publishing legal settlement.

For 2012, SG&A expenses increased $30 million, or 1%, to $2.44 billion from $2.41 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 $42 million, respectively. The charges reflected $21 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 $56 million, of which $22 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		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
Corporate	—		1		—		1
Total	$	41	$	19	$	(25)	$	35

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Management’s Discussion and Analysis of

Results of Operations and Financial Condition (Continued)

(Tabular dollars in millions, except per share amounts)

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 $16 million, or 5%, to $290 million for 2013 from $306 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 $7 million, or 2%, to $306 million from $313 million for 2011.

Interest Expense

Interest expense decreased $26 million, or 6%, to $375 million for 2013 from $401 million for 2012 and for 2012, interest expense decreased $32 million, or 7% from $433 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%.

Interest Income

Interest income increased $3 million to $8 million for 2013 from $5 million for 2012. For 2012, interest income was flat at $5 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 $878 million from $812 million in 2012 and for 2012, the provision for income taxes increased from $681 million in 2011.  These increases were mainly driven by the increase in earnings from continuing operations. The Company’s effective income tax rate was 33% in 2013 and 34% in each of 2012 and 2011. For 2014, the Company’s annual effective tax rate is expected to be comparable to the prior three years.

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Management’s Discussion and Analysis of

Results of Operations and Financial Condition (Continued)

(Tabular dollars in millions, except per share amounts)

Equity in Loss of Investee Companies, Net of Tax

Equity in loss of investee companies, net of tax, was $49 million for 2013, $37 million for 2012 and $39 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 $1.74 billion for 2013, $1.51 billion for 2012 and $1.26 billion for 2011.

Net Earnings from Discontinued Operations

On April 2, 2014, Outdoor Americas completed an IPO through which it sold 23.0 million shares, or approximately 19% of its common stock. On July 16, 2014, the Company completed the disposition of its approximately 81% ownership of Outdoor Americas common stock through a tax-free split-off. During 2013, the Company completed the sale of Outdoor Europe for $225 million. As a result, Outdoor Americas and Outdoor Europe have been presented as discontinued operations in the Company’s consolidated financial statements for all periods presented.  Included in the loss from discontinued operations of $12 million for 2013 is an after-tax charge of $110 million related to the sale of Outdoor Europe. This charge was 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 from discontinued operations for the years ended December 31, 2013, 2012 and 2011.

Year Ended December 31,	2013		2012		2011
Revenues from discontinued operations	$	1,695	$	1,873	$	1,885
Earnings (loss) from discontinued operations	$	(12)	$	128	$	125
Income tax provision	—		(62)		(83)
Earnings (loss) from discontinued operations, net of tax	(12)		66		42
Gain on disposal	159		—		—
Income tax provision	(6)		—		—
Gain on disposal, net of tax	153		—		—
Net earnings from discontinued operations, net of tax	$	141	$	66	$	42

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.

-9-

Management’s Discussion and Analysis of

Results of Operations and Financial Condition (Continued)

(Tabular dollars in millions, except per share amounts)

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 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	(212		)	(200		)	(199		)
Exclude net cash flow provided by operating activities from discontinued operations	94			310			293
Free cash flow	$	1,567		$	1,305		$	1,257

-10-

Management’s Discussion and Analysis of

Results of Operations and Financial Condition (Continued)

(Tabular dollars in millions, except per share amounts)

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
Corporate/Eliminations	(214		)	(210		)	(173		)
Total Revenues	$	14,005		$	12,820		$	12,381

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
Corporate	(332		)	(292		)	(301		)
Total Segment OIBDA	3,335			3,114			2,778
Restructuring charges	(20		)	(19		)	(42		)
Impairment charges	—			(11		)	—
Depreciation and amortization	(290		)	(306		)	(313		)
Total Operating Income	$	3,025		$	2,778		$	2,423
Operating Income (Loss):
Entertainment	$	1,593		$	1,381		$	1,231
Cable Networks	877			785			684
Publishing	106			80			83
Local Broadcasting	807			848			750
Corporate	(358		)	(316		)	(325		)
Total Operating Income	$	3,025		$	2,778		$	2,423
Depreciation and Amortization:
Entertainment	$	153		$	161		$	160
Cable Networks	20			26			23
Publishing	6			6			7
Local Broadcasting	86			90			99
Corporate	25			23			24
Total Depreciation and Amortization	$	290		$	306		$	313

-11-

Management’s Discussion and Analysis of

Results of Operations and Financial Condition (Continued)

(Tabular dollars in millions, except per share amounts)

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

(Contributed 62% to consolidated revenues in 2013 and 60% to consolidated revenues in each of 2012 and 2011, and 53%, 50% and 51% 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

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.

-12-

Management’s Discussion and Analysis of

Results of Operations and Financial Condition (Continued)

(Tabular dollars in millions, except per share amounts)

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.

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

(Contributed 15%, 14% and 13% to consolidated revenues in 2013, 2012 and 2011, respectively, and 29% to consolidated operating income in 2013 and 28% 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

-13-

Management’s Discussion and Analysis of

Results of Operations and Financial Condition (Continued)

(Tabular dollars in millions, except per share amounts)

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.

Publishing (Simon & Schuster)

(Contributed 6% to consolidated revenues in each of 2013, 2012 and 2011, and 4% to consolidated operating income in 2013 and 3% to consolidated operating income in each of 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

-14-

Management’s Discussion and Analysis of

Results of Operations and Financial Condition (Continued)

(Tabular dollars in millions, except per share amounts)

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.

Local Broadcasting (CBS Television Stations and CBS Radio)

(Contributed 19% to consolidated revenues in 2013 and 22% to consolidated revenues in each of 2012 and 2011, and 27% to consolidated operating income in 2013 and 31% to consolidated operating income in each of 2012 and 2011.)

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.

-15-

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.

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 13% to $358 million from $316 million for 2012 driven by higher stock-based compensation of $62 million, mainly associated with the increase in the Company’s stock price. 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 3% to $316 million from $325 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 1.8% at December 31, 2013 compared with 2.1% at December 31, 2012, primarily due to the increase in receivables relating to television licensing agreements, which historically had a lower rate of uncollectability compared to the Company’s other receivables.

Net property and equipment of $1.47 billion at December 31, 2013 increased by $19 million from $1.45 billion at December 31, 2012, primarily reflecting depreciation expense of $251 million, partially offset by capital expenditures of $212 million and capital lease additions for broadcasting equipment of $58 million.

Other assets increased by $456 million to $1.96 billion at December 31, 2013 from $1.51 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.

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.

-16-

Management’s Discussion and Analysis of

Results of Operations and Financial Condition (Continued)

(Tabular dollars in millions, except per share amounts)

Pension and postretirement benefit obligations decreased by $520 million to $1.33 billion at December 31, 2013 from $1.85 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 $73 million to $2.03 billion at December 31, 2013 from $2.11 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 operating activities from:
Continuing operations	$	1,779		$	1,505		$	1,456
Discontinued operations	94			310			293
Cash provided by operating activities	1,873			1,815			1,749
Cash used for investing activities from:
Continuing operations	(214		)	(375		)	(316		)
Discontinued operations	(58		)	(76		)	(73		)
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 $274 million to $1.78 billion from $1.51 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 contributions of $150 million to pre-fund its qualified pension plans compared with contributions of $200 million in 2012.

Cash provided by operating activities from discontinued operations decreased $216 million to $94 million in 2013 from $310 million in 2012 mainly reflecting a payment of $171 million in 2013 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 increased $49 million to $1.51 billion from $1.46 billion in 2011 primarily reflecting growth in operating income which was partially 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.

-17-

Management’s Discussion and Analysis of

Results of Operations and Financial Condition (Continued)

(Tabular dollars in millions, except per share amounts)

Cash paid for income taxes from continuing operations was $294 million for 2013, $331 million for 2012 and $217 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 $214 million principally reflects capital expenditures of $212 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 $164 million, principally from the sale of Outdoor Europe. In 2012, cash used for investing activities from continuing operations of $375 million principally includes capital expenditures of $200 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 $316 million principally reflected capital expenditures of $199 million; investments of $79 million, principally in domestic and international television joint ventures; and acquisitions of $67 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 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 six months of 2014, the Company spent $2.41 billion to repurchase 38.5 million shares of CBS Corp. Class B Common Stock, of which $1.5 billion was spent for an ASR transaction using proceeds from Outdoor Americas borrowings.

-18-

Management’s Discussion and Analysis of

Results of Operations and Financial Condition (Continued)

(Tabular dollars in millions, except per share amounts)

On July 16, 2014, the Company completed an exchange offer through which it received 44.7 million shares of CBS Corp. Class B Common Stock in exchange for the 97.0 million shares of Outdoor Americas common stock that it owned.

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)	14		14
Total debt from continuing operations	6,435		5,921
Less commercial paper	475		—
Less current portion of long-term debt	20		18
Total long-term debt from continuing operations, net of current portion	$	5,940	$	5,903

(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:

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

Outdoor Americas Indebtedness

In January 2014, prior to the IPO, 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 equal to 2.25% plus the greater of the London Interbank Offer Rate (“LIBOR”) or 0.75%.  The debt is guaranteed by Outdoor Americas 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.

-19-

Management’s Discussion and Analysis of

Results of Operations and Financial Condition (Continued)

(Tabular dollars in millions, except per share amounts)

The debt proceeds were primarily used by the Company to repurchase shares of CBS Corp. Class B Common Stock through a $1.5 billion ASR transaction.

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 approximately 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 terms of the Credit Facility were not impacted by the split-off of Outdoor Americas.

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.

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, 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.

-20-

Management’s Discussion and Analysis of

Results of Operations and Financial Condition (Continued)

(Tabular dollars in millions, except per share amounts)

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 initiatives for Outdoor Americas 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 six months of 2014, the Company spent $2.41 billion to repurchase 38.5 million shares of CBS Corp. Class B Common Stock, of which $1.5 billion was spent for an ASR transaction using proceeds from Outdoor Americas borrowings. (See ‘‘Capital Structure’’).

On July 16, 2014, the Company completed an exchange offer through which it received 44.7 million shares of CBS Corp. Class B Common Stock in exchange for the 97.0 million shares of Outdoor Americas common stock that it owned.

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
									2019 and
	Total		2014		2015-2016		2017-2018		thereafter
Programming and talent commitments (a)	$	14,480	$	2,356	$	3,507	$	2,914	$	5,703
Purchase obligations (b)	1,045		240		339		220		246
Operating leases (c)	1,117		161		269		219		468
Other long-term contractual obligations (d)	1,155		—		952		150		53
Long-term debt obligations (e)	5,856		99		200		700		4,857
Interest commitments on long-term debt (f)	4,339		345		667		631		2,696
Capital lease obligations (including interest) (g)	133		21		38		30		44
Total	$	28,125	$	3,222	$	5,972	$	4,864	$	14,067

(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)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.

(c)Consists of long-term noncancellable operating lease commitments for office space, equipment, transponders and studio facilities.

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

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

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

(g)  Includes capital leases for satellite transponders.

The table above excludes $139 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 contractual obligations of Outdoor Americas, which is presented as a discontinued operation in the consolidated financial statements. These obligations are comprised of noncancellable operating lease commitments of $674 million and guaranteed minimum franchise payments of $331 million.

-21-

Management’s Discussion and Analysis of

Results of Operations and Financial Condition (Continued)

(Tabular dollars in millions, except per share amounts)

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.

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

-22-

Management’s Discussion and Analysis of

Results of Operations and Financial Condition (Continued)

(Tabular dollars in millions, except per share amounts)

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.

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 five 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 five 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 for the projection period are based on the Company’s

-23-

Management’s Discussion and Analysis of

Results of Operations and Financial Condition (Continued)

(Tabular dollars in millions, except per share amounts)

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 estimated fair value:

		Significant Assumptions
	Reporting Unit Fair	Perpetual
	Value in Excess of	Nominal	Discount
Reporting Unit	Carrying Value	Growth Rate	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 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

-24-

Management’s Discussion and Analysis of

Results of Operations and Financial Condition (Continued)

(Tabular dollars in millions, except per share amounts)

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	Perpetual Nominal
	Rate	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.

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

-25-

Management’s Discussion and Analysis of

Results of Operations and Financial Condition (Continued)

(Tabular dollars in millions, except per share amounts)

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 rate is determined based on the yield on portfolios of high quality bonds, constructed to provide cash flows necessary to meet the Company’s pension plan’s expected future benefit payments, as determined for the projected benefit obligation. 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 of resolution of any particular tax matter, the Company believes that its reserve for uncertain tax positions of $139 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,

-26-

Management’s Discussion and Analysis of

Results of Operations and Financial Condition (Continued)

(Tabular dollars in millions, except per share amounts)

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.

-27-

Management’s Discussion and Analysis of

Results of Operations and Financial Condition (Continued)

(Tabular dollars in millions, except per share amounts)

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.

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

-28-

Management’s Discussion and Analysis of

Results of Operations and Financial Condition (Continued)

(Tabular dollars in millions, except per share amounts)

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.

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 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%.

-29-

Management’s Discussion and Analysis of

Results of Operations and Financial Condition (Continued)

(Tabular dollars in millions, except per share amounts)

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.

-30-

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
Item 15(a)(1) Financial Statements:		(Page/s)
1.	Management’s Report on Internal Control Over Financial Reporting	32
2.	Report of Independent Registered Public Accounting Firm	33
3.	Consolidated Statements of Operations for the years ended December 31, 2013, 2012 and 2011	34
4.	Consolidated Statements of Comprehensive Income for the years ended December 31, 2013, 2012 and 2011	35
5.	Consolidated Balance Sheets at December 31, 2013 and 2012	36
6.	Consolidated Statements of Cash Flows for the years ended December 31, 2013, 2012 and 2011	37
7.	Consolidated Statements of Stockholders’ Equity for the years ended December 31, 2013, 2012 and 2011	38
8.	Notes to Consolidated Financial Statements	39 - 87
Item 15(a)(2) Financial Statement Schedule:
	II. Valuation and Qualifying Accounts	88
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.

-31-

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/ LESLIEMOONVES
	Leslie Moonves
	President
	Chief Executive Officer
By:	/s/ JOSEPHR. IANNIELLO
	Joseph R. Ianniello
	Chief Operating Officer
By:	/s / LAWRENCELIDING
	Lawrence Liding
	Senior Vice President, Controller
	Chief Accounting Officer

-32-

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 accompanying index 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

New York, New York

February 14, 2014 except with respect to our opinion on the consolidated financial statements insofar as it relates to the effects of the discontinued operations presentation of Outdoor Americas  discussed  in Note 3, as to which the date is August 8, 2014.

-33-

CBS CORPORATION AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

(In millions, except per share amounts)

	Year Ended December 31,
			2013			2012			2011
Revenues		$	14,005		$	12,820		$	12,381
Expenses:
Operating			8,124			7,264			7,191
Selling, general and administrative			2,546			2,442			2,412
Restructuring charges (Note 4)			20			19			42
Impairment charges (Note 2)			—			11			—
Depreciation and amortization			290			306			313
Total expenses			10,980			10,042			9,958
Operating income			3,025			2,778			2,423
Interest expense			(375	)		(401	)		(433	)
Interest income			8			5			5
Net loss on early extinguishment of debt (Note 8)			—			(32	)		—
Other items, net			7			7			(12	)
Earnings from continuing operations before income taxes and equity in loss of investee companies			2,665			2,357			1,983
Provision for income taxes			(878	)		(812	)		(681	)
Equity in loss of investee companies, net of tax			(49	)		(37	)		(39	)
Net earnings from continuing operations			1,738			1,508			1,263
Net earnings from discontinued operations, net of tax (Note 3)			141			66			42
Net earnings		$	1,879		$	1,574		$	1,305
Basic net earnings per common share:
Net earnings from continuing operations		$	2.86		$	2.35		$	1.90
Net earnings from discontinued operations		$	.23		$	.10		$	.06
Net earnings		$	3.09		$	2.45		$	1.97
Diluted net earnings per common share:
Net earnings from continuing operations		$	2.79		$	2.29		$	1.85
Net earnings from discontinued operations		$	.23		$	.10		$	.06
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.

-34-

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			8			20			17
Net actuarial gain (loss) and prior service cost (Note 13)			207			(136	)		(142	)
Unrealized gain on securities			1			—			—
Other comprehensive income (loss) from continuing operations, net of tax			216			(116	)		(125	)
Other comprehensive loss from discontinued operations, before reclassifications			(14	)		(14	)		(28	)
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.

-35-

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	$	368		$	687
Receivables, less allowances of $60 (2013) and $62 (2012)	3,234			2,918
Programming and other inventory (Note 5)	772			858
Deferred income tax assets, net (Note 12)	152			239
Prepaid income taxes	—			28
Prepaid expenses	109			113
Other current assets	384			305
Current assets of discontinued operations (Note 3)	351			572
Total current assets	5,370			5,720
Property and equipment:
Land	243			242
Buildings	698			672
Capital leases	165			193
Equipment and other	1,991			1,968
	3,097			3,075
Less accumulated depreciation and amortization	1,624			1,621
Net property and equipment	1,473			1,454
Programming and other inventory (Note 5)	1,697			1,582
Goodwill (Note 2)	6,696			6,690
Intangible assets (Note 2)	6,064			6,092
Other assets (Note 1)	1,963			1,507
Assets of discontinued operations (Note 3)	3,124			3,421
Total Assets	$	26,387		$	26,466
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	286		$	307
Accrued expenses	595			562
Accrued compensation	376			359
Participants’ share and royalties payable	1,008			953
Program rights	398			455
Deferred revenues	269			183
Income taxes payable	54			—
Commercial paper (Note 8)	475			—
Current portion of long-term debt (Note 8)	20			18
Other current liabilities	472			614
Current liabilities of discontinued operations (Note 3)	254			490
Total current liabilities	4,207			3,941
Long-term debt (Note 8)	5,940			5,903
Participants’ share and royalties payable	1,122			965
Pension and postretirement benefit obligations (Note 13)	1,327			1,847
Deferred income tax liabilities, net (Note 12)	1,314			958
Other liabilities	2,034			2,107
Liabilities of discontinued operations (Note 3)	477			532
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.

-36-

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 from discontinued operations	141			66			42
Net earnings from continuing operations	1,738			1,508			1,263
Adjustments to reconcile net earnings from continuing operations to net cash flow provided by operating activities from continuing operations:
Depreciation and amortization	290			306			313
Impairment charges	—			11			—
Deferred tax provision	433			453			422
Stock-based compensation	222			147			134
Redemption of debt	—			(28		)	—
Net (gain) loss on disposition and write-down of assets	(3		)	(2		)	10
Equity in loss of investee companies, net of tax and distributions	57			48			46
Amortization of deferred financing costs	10			12			13
Change in assets and liabilities, net of investing and financing activities
Increase in receivables	(777		)	(237		)	(29		)
Decrease (increase) in inventory and related program and participation liabilities, net	48			(414		)	(159		)
(Increase) decrease in other assets	(19		)	28			45
Decrease in accounts payable and accrued expenses	(135		)	(25		)	(102		)
Decrease in pension and postretirement benefit obligations	(188		)	(190		)	(380		)
Increase (decrease) in income taxes	9			(75		)	(49		)
Increase (decrease) in deferred revenue	90			(29		)	(77		)
Other, net	4			(8		)	6
Net cash flow provided by operating activities from continuing operations	1,779			1,505			1,456
Net cash flow provided by operating activities from discontinued operations	94			310			293
Net cash flow provided by operating activities	1,873			1,815			1,749
Investing Activities:
Acquisitions, net of cash acquired	(20		)	(146		)	(67		)
Capital expenditures	(212		)	(200		)	(199		)
Investments in and advances to investee companies	(176		)	(91		)	(79		)
Proceeds from sale of investments	30			13			12
Proceeds from dispositions	164			49			17
Net cash flow used for investing activities from continuing operations	(214		)	(375		)	(316		)
Net cash flow used for investing activities from discontinued operations	(58		)	(76		)	(73		)
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 (includes $21 (2013), $38 (2012) and $19 (2011) of discontinued operations cash)	708			660			480
Cash and cash equivalents at end of year (includes $29 (2013), $21 (2012) and $38 (2011) of discontinued operations cash)	$	397		$	708		$	660

See notes to consolidated financial statements.

-37-

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.

-38-

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) and Local Broadcasting (CBS Television Stations and CBS Radio).  On April 2, 2014, CBS Outdoor Americas Inc. (“Outdoor Americas”), which had been a subsidiary of the Company, completed an initial public offering (“IPO”) through which it sold 23.0 million shares, or 19%, of its common stock. On July 16, 2014, the Company completed the disposition of its 81% ownership of Outdoor Americas common stock through a tax-free split-off. As a result, in the second quarter of 2014, Outdoor Americas was presented as a discontinued operation in the Company’s consolidated financial statements.  All prior periods have been recast to conform to this presentation.  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.

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 earned and costs to be incurred throughout the life of each television program or theatrical

-39-

CBS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Tabular dollars in millions, except per share amounts)

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
Equipment and other (including capital leases)	3 to 20 years

Depreciation expense, including capitalized lease amortization, was $251 million (2013), $261 million (2012) and $263 million (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 $130 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

-40-

CBS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Tabular dollars in millions, except per share amounts)

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 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 Americas and Outdoor Europe as discontinued operations (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 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.

-41-

CBS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Tabular dollars in millions, except per share amounts)

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.

Advertising—Advertising costs are expensed as incurred. The Company incurred total advertising expenses of $449 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

-42-

CBS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Tabular dollars in millions, except per share amounts)

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 $14 million (2013 and 2012) and $15 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.

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

-43-

CBS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Tabular dollars in millions, except per share amounts)

Accumulated Other Comprehensive Income —The following 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	$	197	$	(658)		$	2	$	173		$	(286)
Other comprehensive income (loss)	17		(142)			—		(28)			(153)
At December 31, 2011	214		(800)			2		145			(439)
Other comprehensive income (loss)	20		(136)			—		(14)			(130)
At December 31, 2012	234		(936)			2		131			(569)
Other comprehensive income (loss) before reclassifications	8		163			1		(14)			158
Reclassifications to net earnings	—		44		(a)	—		(178)		(c)	(134)
Other comprehensive income (loss)	8		207			1		(192)			24
At December 31, 2013	$	242	$	(729)		$	3	$	(61)		$	(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 $(132) million, $80 million and $74 million, respectively, and other comprehensive loss from discontinued operations is net of a tax (provision) benefit of $(3) million, $1 million and $4 million for the years ended December 31, 2013, 2012 and 2011, respectively. 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.

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	$	129		$	105		$	94
Stock options and equivalents	93			42			40
Stock-based compensation expense, before income taxes	222			147			134
Related tax benefit	(86		)	(57		)	(52		)
Stock-based compensation expense, net of tax benefit	$	136		$	90		$	82

Stock-based compensation included in net earnings (loss) from discontinued operations was $15 million, $7 million and $6 million for 2013, 2012 and 2011, respectively.

-44-

CBS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Tabular dollars in millions, except per share amounts)

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.

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 five 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

-45-

CBS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Tabular dollars in millions, except per share amounts)

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 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.

-46-

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										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
Total:
Goodwill	33,556			7		—		(1		)	33,562
Accumulated impairment losses	(26,866		)	—		—		—			(26,866		)
Goodwill, net of impairment	$	6,690		$	7	$	—	$	(1	)	$	6,696

(a)Primarily includes foreign currency translation adjustments.

-47-

CBS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Tabular dollars in millions, except per share amounts)

	Balance at											Balance at
	December 31, 2011			Acquisitions		Dispositions			Impairment			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
Total:
Goodwill	33,809			10		(263		)	—			33,556
Accumulated impairment losses	(27,110		)	—		255			(11		)	(26,866		)
Goodwill, net of impairment	$	6,699		$	10	$	(8	)	$	(11	)	$	6,690

The Company’s intangible assets were as follows:

			Accumulated
At December 31, 2013	Gross		Amortization		Net
Intangible assets subject to amortization:
Trade names	$	222	$	(42)	$	180
Other intangible assets	211		(159)		52
Total intangible assets subject to amortization	433		(201)		232
FCC licenses	5,832		—		5,832
Total intangible assets	$	6,265	$	(201)	$	6,064

			Accumulated
At December 31, 2012	Gross		Amortization		Net
Intangible assets subject to amortization:
Trade names	$	213	$	(28)	$	185
Other intangible assets	229		(154)		75
Total intangible assets subject to amortization	442		(182)		260
FCC licenses	5,832		—		5,832
Total intangible assets	$	6,274	$	(182)	$	6,092

-48-

CBS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Tabular dollars in millions, except per share amounts)

Amortization expense was $39 million (2013), $45 million (2012) and $50 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	$	31	$	23	$	18	$	14	$	13

3) DISCONTINUED OPERATIONS

On April 2, 2014, Outdoor Americas completed an IPO through which it sold 23.0 million shares, or approximately 19%, of its common stock for $28.00 per share. Proceeds from the IPO aggregated $615 million, net of underwriting discounts and commissions. Upon completion of the IPO, the Company owned 97.0 million shares, or approximately 81%, of Outdoor Americas.

On July 16, 2014, the Company completed the disposition of its 81% ownership of Outdoor Americas common stock through a tax-free split-off. In connection with this transaction, the Company accepted 44.7 million shares of CBS Corp. Class B Common Stock from its stockholders in exchange for the 97.0 million shares of Outdoor Americas common stock that it owned. As a result, in the second quarter of 2014, Outdoor Americas was presented as a discontinued operation in the Company’s consolidated financial statements. Accordingly, amounts reported for all prior periods within the Company’s consolidated financial statements and accompanying notes herein have been recast to conform to this presentation.

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 $12 million for 2013 is an after-tax charge of $110 million related to the sale of Outdoor Europe. This charge was 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 from discontinued operations for the years ended December 31, 2013, 2012 and 2011.

Year Ended December 31,	2013			2012			2011
Revenues from discontinued operations	$	1,695		$	1,873		$	1,885
Earnings (loss) from discontinued operations	$	(12	)	$	128		$	125
Income tax provision	—			(62		)	(83		)
Earnings (loss) from discontinued operations, net of tax	(12		)	66			42
Gain on disposal	159			—			—
Income tax provision	(6		)	—			—
Gain on disposal, net of tax	153			—			—
Net earnings from discontinued operations, net of tax	$	141		$	66		$	42

-49-

CBS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Tabular dollars in millions, except per share amounts)

The following table presents the major classes of assets and liabilities of the Company’s discontinued operations at December 31, 2013 and 2012.

At December 31,		2013		2012
Current assets	$	351	$	572
Goodwill		1,866		1,926
Intangible assets		366		428
Net property and equipment		763		919
Other assets		129		148
Total Assets	$	3,475	$	3,993
Current liabilities	$	254	$	490
Other liabilities		477		532
Total Liabilities	$	731	$	1,022

Other liabilities of discontinued operations of $477 million and $532 million at December 31, 2013 and 2012, respectively, primarily include deferred tax liabilities related to Outdoor Americas and tax reserves related to previously disposed businesses. Also included in other liabilities of discontinued operations at December 31, 2013 is the estimated fair value of guarantee liabilities of approximately $40 million associated with the disposition of Outdoor Europe.

Outdoor Americas Indebtedness

In January 2014, prior to the IPO, 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 Outdoor Americas and certain of its subsidiaries.

The debt proceeds were primarily used by the Company to repurchase shares of CBS Corp. Class B Common Stock through a $1.5 billion accelerated share repurchase transaction.

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 $42 million, respectively. The charges reflected $21 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 $56 million, of which $22 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.

-50-

CBS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Tabular dollars in millions, except per share amounts)

	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
Corporate	—		1		—			1
Total	$	41	$	19	$	(25	)	$	35

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	38		25
In process and other	32		60
Publishing, primarily finished goods	51		57
Total programming and other inventory	2,469		2,440
Less current portion	772		858
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

-51-

CBS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Tabular dollars in millions, except per share amounts)

Company’s total revenues from these transactions were $185 million, $211 million and $244 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.

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 $108 million, $157 million and $131 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). 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 $188 million and $107 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.

-52-

CBS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Tabular dollars in millions, except per share amounts)

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.

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)	14		14
Total debt from continuing operations	6,435		5,921
Less commercial paper	475		—
Less current portion	20		18
Total long-term debt from continuing operations, net of current portion	$	5,940	$	5,903

(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.

-53-

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:

											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 $1.99 billion.

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.

-54-

CBS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Tabular dollars in millions, except per share amounts)

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

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%.

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.

-55-

CBS CORPORATION AND SUBSIDIARIES

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
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.

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.

-56-

CBS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Tabular dollars in millions, except per share amounts)

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 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 $167 million, which is expected to be recognized over a weighted average period of 2.2 years.

-57-

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 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 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

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 $54 million, which is expected to be recognized over a weighted average period of 2.3 years.

-58-

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 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, 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.

-59-

CBS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Tabular dollars in millions, except per share amounts)

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	$	2,283	$	2,030	$	1,695
Foreign	382		327		288
Total	$	2,665	$	2,357	$	1,983

The components of the provision for income taxes were as follows:

Year Ended December 31,	2013		2012		2011
Current:
Federal	$	310	$	236	$	164
State and local	74		61		43
Foreign	61		62		52
	445		359		259
Deferred	433		453		422
Provision for income taxes	$	878	$	812	$	681

In addition, included in discontinued operations was an income tax provision of $6 million, $62 million, and $83 million in 2013, 2012 and 2011, respectively.

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 $31 million, $23 million, and $25 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	$	933		$	825		$	694
State and local taxes, net of federal tax benefit	101			84			73
Effect of foreign operations	(92		)	(67		)	(63		)
Audit settlements, net	(17		)	(3		)	(10		)
Other, net (a)	(47		)	(27		)	(13		)
Provision for income taxes	$	878		$	812		$	681

(a) Primarily reflects the Company’s domestic production deduction.

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CBS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Tabular dollars in millions, except per share amounts)

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	$	700		$	775
Pension, postretirement and other employee benefits	422			629
Tax credit and loss carryforwards	664			270
Other	163			133
Total deferred income tax assets	1,949			1,807
Valuation allowance	(634		)	(240		)
Deferred income tax assets, net	1,315			1,567
Deferred income tax liabilities:
Intangible assets	(1,943		)	(1,851		)
Property, equipment and other assets	(522		)	(429		)
Total deferred income tax liabilities	(2,465		)	(2,280		)
Deferred income tax liabilities, net	$	(1,150	)	$	(713	)

In addition to the deferred income taxes reflected in the table above, the Company included net deferred income tax liabilities of $182 million and $250 million in the assets and liabilities 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 $1.19 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 $634 million and $240 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 $4.08 billion at December 31, 2013 and $3.71 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.

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CBS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Tabular dollars in millions, except per share amounts)

The following table sets forth the change in the reserve for uncertain tax positions, excluding related accrued interest and penalties.

At January 1, 2011	$	211
Additions for current year tax positions	11
Additions for prior year tax positions	9
Reductions for prior year tax positions	(18		)
Cash settlements	(23		)
Statute of limitations lapses	(1		)
At December 31, 2011	189
Additions for current year tax positions	12
Additions for prior year tax positions	10
Reductions for prior year tax positions	(32		)
Cash settlements	(5		)
Statute of limitations lapses	(2		)
At December 31, 2012	172
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	$	139

At December 31, 2013 and 2012, $53 million and $57 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 $139 million at December 31, 2013 includes $112 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 liabilities for accrued interest and penalties of $56 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.

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CBS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Tabular dollars in millions, except per share amounts)

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	$	5,511		$	5,145		$	676		$	697
Service cost	38			34			—			—
Interest cost	211			240			26			33
Actuarial (gain) loss	(311		)	496			(51		)	1
Benefits paid	(415		)	(411		)	(79		)	(78		)
Participants’ contributions	—			—			10			11
Retiree Medicare drug subsidy	—			—			7			12
Cumulative translation adjustments	(12		)	7			—			—
Benefit obligation, end of year	$	5,022		$	5,511		$	589		$	676

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CBS CORPORATION AND SUBSIDIARIES

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	$	4,234		$	3,914		$	5		$	5
Actual return on plan assets	178			474			—			—
Employer contributions	199			250			62			55
Benefits paid	(415		)	(411		)	(79		)	(78		)
Participants’ contributions	—			—			10			11
Retiree Medicare drug subsidy	—			—			7			12
Cumulative translation adjustments	(12		)	7			—			—
Fair value of plan assets, end of year	$	4,184		$	4,234		$	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	$	(838	)	$	(1,277	)	$	(584	)	$	(671	)
Amounts recognized on the Consolidated Balance Sheets:
Other assets	$	17		$	17		$	—		$	—
Current liabilities	(50		)	(51		)	(62		)	(67		)
Noncurrent liabilities	(805		)	(1,243		)	(522		)	(604		)
Net amounts recognized	$	(838	)	$	(1,277	)	$	(584	)	$	(671	)

The Company’s qualified pension plans were underfunded by $203 million and $582 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	$	(1,533	)	$	(1,834	)	$	248		$	213
Net prior service (cost) credit	(11		)	(14		)	1			2
Share of equity investee	—			(1		)	—			—
	(1,544		)	(1,849		)	249			215
Deferred income taxes	612			731			(46		)	(33		)
Net amount recognized in accumulated other comprehensive income (loss)	$	(932	)	$	(1,118	)	$	203		$	182

The accumulated benefit obligation for all defined benefit pension plans was $4.95 billion and $5.43 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.

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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		2012
Projected benefit obligation	$	4,890	$	5,354
Accumulated benefit obligation	$	4,814	$	5,273
Fair value of plan assets	$	4,036	$	4,060

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	$	38		$	34		$	33		$	—		$	—		$	—
Interest cost	211			240			247			26			33			38
Expected return on plan assets	(271		)	(247		)	(237		)	—			—			—
Amortization of actuarial losses (gains)	85			70			65			(16		)	(16		)	(10		)
Amortization of prior service cost (credit)	1			1			1			(1		)	(1		)	(1		)
Net periodic cost	$	64		$	98		$	109		$	9		$	16		$	27

	Pension			Postretirement
Year Ended December 31, 2013	Benefits			Benefits
Other comprehensive income (loss):
Actuarial gains	$	218		$	51
Amortization of actuarial losses (gains) (a)	85			(16		)
Amortization of prior service cost (credit) (a)	1			(1		)
Share of equity investee	1			—
	305			34
Deferred income taxes	(119		)	(13		)
Recognized in other comprehensive income, net of tax	$	186		$	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 $1 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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CBS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Tabular dollars in millions, except per share amounts)

	Pension				Postretirement
	Benefits				Benefits
	2013		2012		2013		2012
Weighted average assumptions used to determine benefit obligations at December 31:
Discount rate	4.8	%	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		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 95% 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 5% of total plan assets at December 31, 2013 and are invested approximately 66% in fixed income instruments, 25% 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

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CBS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Tabular dollars in millions, except per share amounts)

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.

At December 31, 2013		Level 1		Level 2		Level 3		Total
Cash and cash equivalents (a)	$	8	$	55	$	—	$	63
Fixed income securities:
U.S. treasury securities		133		—		—		133
Government related securities		44		234		—		278
Corporate bonds (b)		—		2,373		—		2,373
Mortgage-backed and asset-backed securities		—		128		4		132
Equity securities: (c)
U.S. large capitalization		345		355		—		700
U.S. small capitalization		98		3		—		101
International equity (d)		—		291		—		291
Limited partnerships		—		—		55		55
Other		—		58		—		58
Total assets	$	628	$	3,497	$	59	$	4,184
At December 31, 2012		Level 1		Level 2		Level 3		Total
Cash and cash equivalents (a)	$	25	$	144	$	—	$	169
Fixed income securities:
U.S. treasury securities		102		—		—		102
Government related securities		56		353		—		409
Corporate bonds (b)		—		2,360		—		2,360
Mortgage-backed and asset-backed securities		—		176		4		180
Equity securities: (c)
U.S. large capitalization		264		330		—		594
U.S. small capitalization		69		6		—		75
International equity (d)		5		281		—		286
Limited partnerships		—		—		52		52
Other		—		7		—		7
Total assets	$	521	$	3,657	$	56	$	4,234

(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

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CBS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Tabular dollars in millions, except per share amounts)

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 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	$	407	$	399	$	387	$	380	$	371	$	1,714
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

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CBS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Tabular dollars in millions, except per share amounts)

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					8		6		5
	Total contributions			$	42	$	38	$	36

(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, $18 million and $19 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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CBS CORPORATION AND SUBSIDIARIES

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 and purchase obligations for goods and services 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		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, equipment, transponders and studio facilities. The Company also enters into capital leases for satellite transponders.

At December 31, 2013, future minimum rental payments under noncancellable operating leases with terms in excess of one year and payments under capital leases are as follows:

		Leases
		Capital	Operating
2014	$	21	$	161
2015		20	141
2016		19	128
2017		15	117
2018		15	102
2019 and thereafter		44	468
Total minimum payments	$	134	$	1,117
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 $211 million (2013) and $204 million (2012 and 2011). Included in net earnings from discontinued operations was additional rent expense of $292 million (2013), $283 million (2012) and $279 million (2011).

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CBS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Tabular dollars in millions, except per share amounts)

The table above does not include contractual obligations of Outdoor Americas, which is presented as a discontinued operation in the consolidated financial statements. These obligations are mainly comprised of long-term noncancellable operating lease commitments of $674 million and guaranteed minimum franchise payments of $331 million.

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 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.

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CBS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Tabular dollars in millions, except per share amounts)

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

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CBS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Tabular dollars in millions, except per share amounts)

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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CBS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Tabular dollars in millions, except per share amounts)

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.

On July 16, 2014, the Company completed the disposition of Outdoor Americas through a tax-free split-off. As a result, Outdoor Americas has been presented as a discontinued operation in the Company’s consolidated financial statements for all periods presented.

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
Corporate/Eliminations		(214	)	(210	)	(173	)
Total Revenues	$	14,005	$	12,820	$	12,381

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
Total Intercompany Revenues	$	225	$	222	$	181

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CBS CORPORATION AND SUBSIDIARIES

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
Corporate		(332	)	(292	)	(301	)
Total Segment OIBDA		3,335		3,114		2,778
Restructuring charges		(20	)	(19	)	(42	)
Impairment charges		—		(11	)	—
Depreciation and amortization		(290	)	(306	)	(313	)
Operating income		3,025		2,778		2,423
Interest expense		(375	)	(401	)	(433	)
Interest income		8		5		5
Net loss on early extinguishment of debt		—		(32	)	—
Other items, net		7		7		(12	)
Earnings from continuing operations before income taxes and equity in loss of investee companies		2,665		2,357		1,983
Provision for income taxes		(878	)	(812	)	(681	)
Equity in loss of investee companies, net of tax		(49	)	(37	)	(39	)
Net earnings from continuing operations		1,738		1,508		1,263
Net earnings from discontinued operations, net of tax		141		66		42
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
Corporate		(358	)	(316	)	(325	)
Total Operating Income	$	3,025	$	2,778	$	2,423
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
Corporate		25		23		24
Total Depreciation and Amortization	$	290	$	306	$	313

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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
Stock-based Compensation:
Entertainment	$	56		$		49		$		45
Cable Networks	8			6				4
Publishing	4			3				3
Local Broadcasting	27			24				22
Corporate	127			65				60
Total Stock-based Compensation	$	222		$		147		$		134
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
Corporate	27			21				14
Total Capital Expenditures	$	212		$		200		$		199
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
Corporate				661				1,053
Discontinued operations				3,475				3,993
Total Assets				$		26,387		$		26,466
Year Ended December 31,	2013		2012				2011
Revenues by Type:
Advertising	$	7,525	$		7,191		$		7,145
Content licensing and distribution	3,997		3,468				3,236
Affiliate and subscription fees	2,221		1,921				1,762
Other	262		240				238
Total Revenues	$	14,005	$		12,820		$		12,381

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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:(a)
United States	$	12,178	$	11,275	$	11,024
International	1,827		1,545		1,357
Total Revenues	$	14,005	$	12,820	$	12,381
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	$	440	$	418
Cash paid for income taxes:
Continuing operations	$	294	$	331	$	217
Discontinued operations	92		75		18
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
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):

	First			Second			Third			Fourth
2013(a) (b)	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
Corporate/Eliminations	(63		)	(44		)	(43		)	(64		)	(214		)
Total Revenues	$	3,763		$	3,369		$	3,302		$	3,571		$	14,005
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
Corporate	(77		)	(64		)	(82		)	(109		)	(332		)
Total Segment OIBDA	845			848			834			808			3,335
Restructuring charges	—			—			—			(20		)	(20		)
Depreciation and amortization	(74		)	(73		)	(70		)	(73		)	(290		)
Total Operating Income	$	771		$	775		$	764		$	715		$	3,025
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
Corporate	(82		)	(72		)	(87		)	(117		)	(358		)
Total Operating Income	$	771		$	775		$	764		$	715		$	3,025
Net earnings from continuing operations	$	450		$	435		$	431		$	422		$	1,738
Net earnings	$	443		$	472		$	494		$	470		$	1,879
Basic net earnings per common share:
Net earnings from continuing operations	$	.72		$	.71		$	.71		$	.70		$	2.86
Net earnings	$	.71		$	.78		$	.82		$	.78		$	3.09
Diluted net earnings per common share:
Net earnings from continuing operations	$	.71		$	.70		$	.70		$	.69		$	2.79
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)On July 16, 2014, the Company completed the split-off of Outdoor Americas and as a result, Outdoor Americas has been presented as a discontinued operation in the consolidated financial statements for all periods presented.

(b)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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CBS CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Tabular dollars in millions, except per share amounts)

	First			Second			Third			Fourth
2012(a) (b)	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
Corporate/Eliminations	(55		)	(45		)	(44		)	(66		)	(210		)
Total Revenues	$	3,513		$	3,001		$	2,943		$	3,363		$	12,820
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
Corporate	(69		)	(65		)	(63		)	(95		)	(292		)
Total Segment OIBDA	732			808			800			774			3,114
Restructuring charges	—			—			—			(19		)	(19		)
Impairment charges	(11		)	—			—			—			(11		)
Depreciation and amortization	(76		)	(78		)	(73		)	(79		)	(306		)
Total Operating Income	$	645		$	730		$	727		$	676		$	2,778
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
Corporate	(75		)	(71		)	(68		)	(102		)	(316		)
Total Operating Income	$	645		$	730		$	727		$	676		$	2,778
Net earnings from continuing operations	$	369		$	402		$	362		$	375		$	1,508
Net earnings	$	363		$	427		$	391		$	393		$	1,574
Basic net earnings per common share:
Net earnings from continuing operations	$	.57		$	.62		$	.57		$	.59		$	2.35
Net earnings	$	.56		$	.66		$	.61		$	.62		$	2.45
Diluted net earnings per common share:
Net earnings from continuing operations	$	.55		$	.61		$	.55		$	.58		$	2.29
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)On July 16, 2014, the Company completed the split-off of Outdoor Americas and as a result, Outdoor Americas has been presented as a discontinued operation in the consolidated financial statements for all periods presented.

(b)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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CBS CORPORATION AND SUBSIDIARIES

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		$	13,849		$	—		$	14,005
Expenses:
Operating	69			8			8,047			—			8,124
Selling, general and administrative	65			323			2,158			—			2,546
Restructuring charges	—			1			19			—			20
Depreciation and amortization	6			14			270			—			290
Total expenses	140			346			10,494			—			10,980
Operating income (loss)	5			(335		)	3,355			—			3,025
Interest (expense) income, net	(457		)	(369		)	459			—			(367		)
Other items, net	—			4			3			—			7
Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of investee companies	(452		)	(700		)	3,817			—			2,665
(Provision) benefit for income taxes	152			235			(1,265		)	—			(878		)
Equity in earnings (loss) of investee companies, net of tax	2,170			1,288			(49		)	(3,458		)	(49		)
Net earnings from continuing operations	1,870			823			2,503			(3,458		)	1,738
Net earnings (loss) from discontinued operations, net of tax	9			(5		)	137			—			141
Net earnings	$	1,879		$	818		$	2,640		$	(3,458	)	$	1,879
Total comprehensive income	$	1,903		$	815		$	2,463		$	(3,278	)	$	1,903

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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, 2012
	CBS Corp.			CBS Operations Inc.			Non- Guarantor Affiliates			Eliminations			CBS Corp. Consolidated
Revenues	$	157		$	15		$	12,648		$	—		$	12,820
Expenses:
Operating	74			8			7,182			—			7,264
Selling, general and administrative	87			251			2,104			—			2,442
Restructuring charges	—			2			17			—			19
Impairment charges	—			—			11			—			11
Depreciation and amortization	6			14			286			—			306
Total expenses	167			275			9,600			—			10,042
Operating income (loss)	(10		)	(260		)	3,048			—			2,778
Interest (expense) income, net	(480		)	(351		)	435			—			(396		)
Net loss on early extinguishment of debt	(32		)	—			—			—			(32		)
Other items, net	1			(5		)	11			—			7
Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of investee companies	(521		)	(616		)	3,494			—			2,357
(Provision) benefit for income taxes	183			215			(1,210		)	—			(812		)
Equity in earnings (loss) of investee companies, net of tax	1,886			1,145			(37		)	(3,031		)	(37		)
Net earnings from continuing operations	1,548			744			2,247			(3,031		)	1,508
Net earnings (loss) from discontinued operations, net of tax	26			(3		)	43			—			66
Net earnings	$	1,574		$	741		$	2,290		$	(3,031	)	$	1,574
Total comprehensive income	$	1,444		$	734		$	2,298		$	(3,032	)	$	1,444

-81-

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		$	12,231		$	—		$	12,381
Expenses:
Operating	72			8			7,111			—			7,191
Selling, general and administrative	109			246			2,057			—			2,412
Restructuring charges	—			—			42			—			42
Depreciation and amortization	5			15			293			—			313
Total expenses	186			269			9,503			—			9,958
Operating income (loss)	(55		)	(250		)	2,728			—			2,423
Interest (expense) income, net	(514		)	(341		)	427			—			(428		)
Other items, net	—			6			(18		)	—			(12		)
Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of investee companies	(569		)	(585		)	3,137			—			1,983
(Provision) benefit for income taxes	200			205			(1,086		)	—			(681		)
Equity in earnings (loss) of investee companies, net of tax	1,667			1,256			(39		)	(2,923		)	(39		)
Net earnings from continuing operations	1,298			876			2,012			(2,923		)	1,263
Net earnings from discontinued operations, net of tax	7			7			28			—			42
Net earnings	$	1,305		$	883		$	2,040		$	(2,923	)	$	1,305
Total comprehensive income	$	1,152		$	883		$	2,023		$	(2,906	)	$	1,152

-82-

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		$	287		$	—		$	368
Receivables, net	30			2			3,202			—			3,234
Programming and other inventory	4			2			766			—			772
Prepaid expenses and other current assets	179			18			474			(26		)	645
Current assets of discontinued operations	—			—			351			—			351
Total current assets	293			23			5,080			(26		)	5,370
Property and equipment	37			137			2,923			—			3,097
Less accumulated depreciation and amortization	9			83			1,532			—			1,624
Net property and equipment	28			54			1,391			—			1,473
Programming and other inventory	5			—			1,692			—			1,697
Goodwill	98			62			6,536			—			6,696
Intangible assets	—			—			6,064			—			6,064
Investments in subsidiaries	40,454			10,415			—			(50,869		)	—
Other assets	89			18			1,856			—			1,963
Intercompany	—			3,240			18,409			(21,649		)	—
Assets of discontinued operations	—			—			3,124			—			3,124
Total Assets	$	40,967		$	13,812		$	44,152		$	(72,544	)	$	26,387
Liabilities and Stockholders’ Equity
Accounts payable	$	1		$	8		$	277		$	—		$	286
Participants’ share and royalties payable	—			—			1,008			—			1,008
Program rights	5			2			391			—			398
Commercial paper	475			—			—			—			475
Current portion of long-term debt	5			—			15			—			20
Accrued expenses and other current liabilities	361			293			1,138			(26		)	1,766
Current liabilities of discontinued operations	—			—			254			—			254
Total current liabilities	847			303			3,083			(26		)	4,207
Long-term debt	5,791			—			149			—			5,940
Other liabilities	2,714			317			2,766			—			5,797
Liabilities of discontinued operations	—			—			477			—			477
Intercompany	21,649			—			—			(21,649		)	—
Stockholders’ Equity:
Preferred stock	—			—			126			(126		)	—
Common stock	1			123			953			(1,076		)	1
Additional paid-in capital	43,474			—			61,678			(61,678		)	43,474
Retained earnings (deficit)	(24,890		)	13,410			(20,406		)	6,996			(24,890		)
Accumulated other comprehensive income (loss)	(545		)	(10		)	126			(116		)	(545		)
	18,040			13,523			42,477			(56,000		)	18,040
Less treasury stock, at cost	8,074			331			4,800			(5,131		)	8,074
Total Stockholders’ Equity	9,966			13,192			37,677			(50,869		)	9,966
Total Liabilities and Stockholders’ Equity	$	40,967		$	13,812		$	44,152		$	(72,544	)	$	26,387

-83-

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		$	432		$	—		$	687
Receivables, net	31			2			2,885			—			2,918
Programming and other inventory	5			3			850			—			858
Prepaid expenses and other current assets	146			14			551			(26		)	685
Current assets of discontinued operations	—			—			572			—			572
Total current assets	436			20			5,290			(26		)	5,720
Property and equipment	39			117			2,919			—			3,075
Less accumulated depreciation and amortization	8			69			1,544			—			1,621
Net property and equipment	31			48			1,375			—			1,454
Programming and other inventory	3			2			1,577			—			1,582
Goodwill	98			62			6,530			—			6,690
Intangible assets	—			—			6,092			—			6,092
Investments in subsidiaries	38,660			9,128			—			(47,788		)	—
Other assets	171			14			1,322			—			1,507
Intercompany	—			3,672			16,111			(19,783		)	—
Assets of discontinued operations	—			—			3,421			—			3,421
Total Assets	$	39,399		$	12,946		$	41,718		$	(67,597	)	$	26,466
Liabilities and Stockholders’ Equity
Accounts payable	$	2		$	6		$	299		$	—		$	307
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	347			284			1,113			(26		)	1,718
Current liabilities of discontinued operations	—			—			490			—			490
Total current liabilities	360			294			3,313			(26		)	3,941
Long-term debt	5,793			—			110			—			5,903
Other liabilities	3,250			275			2,352			—			5,877
Liabilities of discontinued operations	—			—			532			—			532
Intercompany	19,783			—			—			(19,783		)	—
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		)	12,592			(23,046		)	10,454			(26,769		)
Accumulated other comprehensive income (loss)	(569		)	(7		)	303			(296		)	(569		)
	16,087			12,708			40,211			(52,919		)	16,087
Less treasury stock, at cost	5,874			331			4,800			(5,131		)	5,874
Total Stockholders’ Equity	10,213			12,377			35,411			(47,788		)	10,213
Total Liabilities and Stockholders’ Equity	$	39,399		$	12,946		$	41,718		$	(67,597	)	$	26,466

-84-

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		—			—			(20		)	—		(20		)
Capital expenditures		—			(27		)	(185		)	—		(212		)
Investments in and advances to investee companies		—			—			(176		)	—		(176		)
Proceeds from sale of investments		23			1			6			—		30
Proceeds from dispositions		—			—			164			—		164
Net cash flow provided by (used for) investing activities from continuing operations		23			(26		)	(211		)	—		(214		)
Net cash flow used for investing activities from discontinued operations		—			—			(58		)	—		(58		)
Net cash flow provided by (used for) investing activities		23			(26		)	(269		)	—		(272		)
Financing Activities:
Proceeds from short-term debt borrowings, net		475			—			—			—		475
Payment of capital lease obligations		—			—			(17		)	—		(17		)
Payment of contingent consideration		—			—			(30		)	—		(30		)
Dividends		(300		)	—			—			—		(300		)
Purchase of Company common stock		(2,185		)	—			—			—		(2,185		)
Payment of payroll taxes in lieu of issuing shares for stock-based compensation		(145		)	—			—			—		(145		)
Proceeds from exercise of stock options		146			—			—			—		146
Excess tax benefit from stock-based compensation		148			—			—			—		148
Other financing activities		(4		)	—			—			—		(4		)
Increase (decrease) in intercompany payables		2,602			213			(2,815		)	—		—
Net cash flow provided by (used for) financing activities		737			213			(2,862		)	—		(1,912		)
Net decrease in cash and cash equivalents		(174		)	—			(137		)	—		(311		)
Cash and cash equivalents at beginning of year (includes $21 of discontinued operations cash)		254			1			453			—		708
Cash and cash equivalents at end of year (includes $29 of discontinued operations cash)		$	80		$	1		$	316		$	—	$	397

-85-

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		)	(179		)	—		(200		)
Investments in and advances to investee companies		—			—			(91		)	—		(91		)
Proceeds from sale of investments		9			2			2			—		13
Proceeds from dispositions		—			—			49			—		49
Net cash flow provided by (used for) investing activities from continuing operations		9			(19		)	(365		)	—		(375		)
Net cash flow used for investing activities from discontinued operations		—			—			(76		)	—		(76		)
Net cash flow provided by (used for) investing activities		9			(19		)	(441		)	—		(451		)
Financing Activities:
Proceeds from issuance of notes		1,566			—			—			—		1,566
Repayment of notes and debentures		(1,583		)	—			—			—		(1,583		)
Payment of capital lease obligations		—			—			(19		)	—		(19		)
Payment of contingent consideration		—			—			(33		)	—		(33		)
Dividends		(276		)	—			—			—		(276		)
Purchase of Company common stock		(1,137		)	—			—			—		(1,137		)
Payment of payroll taxes in lieu of issuing shares for stock-based compensation		(105		)	—			—			—		(105		)
Proceeds from exercise of stock options		168			—			—			—		168
Excess tax benefit from stock-based compensation		103			—			—			—		103
Increase (decrease) in intercompany payables		2,202			198			(2,400		)	—		—
Net cash flow provided by (used for) financing activities		938			198			(2,452		)	—		(1,316		)
Net increase (decrease) in cash and cash equivalents		120			—			(72		)	—		48
Cash and cash equivalents at beginning of year (includes $38 of discontinued operations cash)		134			1			525			—		660
Cash and cash equivalents at end of year (includes $21 of discontinued operations cash)		$	254		$	1		$	453		$	—	$	708

-86-

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		—			—			(67		)	—		(67		)
Capital expenditures		—			(14		)	(185		)	—		(199		)
Investments in and advances to investee companies		—			—			(79		)	—		(79		)
Proceeds from sale of investments		8			4			—			—		12
Proceeds from dispositions		—			—			17			—		17
Net cash flow provided by (used for) investing activities from continuing operations		8			(10		)	(314		)	—		(316		)
Net cash flow used for investing activities from discontinued operations		—			—			(73		)	—		(73		)
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 (includes $19 of discontinued operations cash)		105			1			374			—		480
Cash and cash equivalents at end of year (includes $38 of discontinued operations cash)		$	134		$	1		$	525		$	—	$	660

-87-

CBS CORPORATION AND SUBSIDIARIES

SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS

(Tabular dollars in millions)

Col. A	Col. B		Col. C							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	$	62	$	—	$	14		$	—	$	16	$	60
Year ended December 31, 2012	$	77	$	—	$	14		$	—	$	29	$	62
Year ended December 31, 2011	$	88	$	—	$	15		$	9	$	35	$	77
Valuation allowance on deferred tax assets:
Year ended December 31, 2013	$	240	$	—	$	450	(b)	$	—	$	56	$	634
Year ended December 31, 2012	$	227	$	—	$	37		$	—	$	24	$	240
Year ended December 31, 2011	$	240	$	—	$	16		$	—	$	29	$	227
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.

-88-

XML

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

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	38	25
In process and other theatrical programming	32	60
Publishing, primarily finished goods	51	57
Total programming and other inventory	2,469	2,440
Less current portion	772	858
Total noncurrent programming and other inventory	$ 1,697	$ 1,582

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				0 Months Ended		12 Months Ended				12 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	Apr. 02, 2014 Subsequent Event [Member]	Jul. 16, 2014 Subsequent Event [Member]	Dec. 31, 2013 Continuing Operations [Member]	Dec. 31, 2012 Continuing Operations [Member]	Dec. 31, 2011 Continuing Operations [Member]	Dec. 31, 2010 Continuing Operations [Member]	Dec. 31, 2013 Continuing Operations [Member] Cumulative Translation Adjustments [Member]	Dec. 31, 2013 Continuing Operations [Member] Net Actuarial Gain (Loss) and Prior Service Cost [Member]	Dec. 31, 2013 Continuing Operations [Member] Unrealized Gain on Securities [Member]	Dec. 31, 2013 Discontinued Operations [Member]	Dec. 31, 2012 Discontinued Operations [Member]	Dec. 31, 2011 Discontinued Operations [Member]	Dec. 31, 2010 Discontinued Operations [Member]	Dec. 31, 2013 Maximum [Member]	Dec. 31, 2013 Minimum [Member]	Dec. 31, 2013 Building [Member] Maximum [Member]	Dec. 31, 2013 Building [Member] Minimum [Member]	Dec. 31, 2013 Leasehold Improvements [Member]	Dec. 31, 2013 Equipment and other (including capital leases) [Member] Maximum [Member]	Dec. 31, 2013 Equipment and other (including capital leases) [Member] Minimum [Member]
Basis Of Presentation And Summary Of Significant Accounting Policies Details [Abstract]
Depreciation expense									$ 251,000,000	$ 261,000,000	$ 263,000,000
Amortization expense related to capital leases									17,000,000	19,000,000	19,000,000
Accumulated amortization of capital leases	62,000,000				130,000,000				62,000,000	130,000,000
Noncurrent receivables	1,560,000,000				1,100,000,000				1,560,000,000	1,100,000,000
Advertising Expense									449,000,000	419,000,000	399,000,000
Provision for doubtful accounts charged to expense									14,000,000	14,000,000	15,000,000
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
Maximum Minimum [Line Items]
Leasehold improvements estimated useful lives																														Shorter of lease term or useful life
Property and equipment estimated useful life																												40 years	20 years		20 years	3 years
Finite-lived intangible asset useful life																										40 years	4 years
Comprehensive Income (Loss) [Abstract]
Tax (provision) benefit on net actuarial gain (loss) and prior service costs related to pension and other postretirement plans									(132,000,000)	80,000,000	74,000,000
Tax on other comprehensive income (loss)																						(3,000,000)	1,000,000	4,000,000
Cumulative translation adjustment															8,000,000	20,000,000	17,000,000
Net actuarial gain (loss) and prior service cost															207,000,000	(136,000,000)	(142,000,000)
Unrealized gain (loss) on securities															1,000,000	0	0
Total other comprehensive income (loss), net of tax									24,000,000	(130,000,000)	(153,000,000)				216,000,000	(116,000,000)	(125,000,000)					(192,000,000)
Accumulated Other Comprehensive Income Loss Net Of Tax Abstract
Cumulative Translation Adjustments, Accumulated Other Comprehensive Income															242,000,000	234,000,000	214,000,000	197,000,000
Net Actuarial Gain (Loss) and Prior Service Cost, Accumulated Other Comprehensive Income															(729,000,000)	(936,000,000)	(800,000,000)	(658,000,000)
Unrealized Gain (Loss) on Securities, Accumulated Other Comprehensive Income															3,000,000	2,000,000	2,000,000	2,000,000
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)										(61,000,000)	131,000,000	145,000,000	173,000,000
Other comprehensive income (loss) before reclassifications									158,000,000										8,000,000	163,000,000	1,000,000	(14,000,000)	(14,000,000)	(28,000,000)
Reclassifications to net earnings of net actuarial gain (loss) and prior service costs																				44,000,000
Reclassifications from accumulated other comprehensive income (loss) to net earnings									(134,000,000)										0		0	(178,000,000)	0	0
Stock Based Compensation Table Detail [Abstract]
RSUs and PSUs															129,000,000	105,000,000	94,000,000
Stock options and equivalents															93,000,000	42,000,000	40,000,000
Stock-based compensation expense, before income taxes									222,000,000	147,000,000	134,000,000				222,000,000	147,000,000	134,000,000
Related tax benefit															(86,000,000)	(57,000,000)	(52,000,000)
Stock-based compensation expense, net of tax benefit															$ 136,000,000	$ 90,000,000	$ 82,000,000					$ 15,000,000	$ 7,000,000	$ 6,000,000
Subsequent Events [Line Items]
Number of shares of CBS Outdoor Americas Inc common stock offered in IPO													23.0
Percentage of CBS Outdoor Americas not owned by CBS and recorded as noncontrolling interest													19.00%
Percentage of CBS Outdoor Americas owned by CBS													81.00%	0.00%

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	$ 4,234	$ 3,914
Actual return on plan assets	178	474
Employer contributions	199	250
Benefits paid	(415)	(411)
Participants' contributions	0	0
Retiree Medicare drug subsidy	0	0
Cumulative translation adjustments	(12)	7
Fair value of plan assets, end of year	4,184	4,234
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

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	$ 185	$ 211	$ 244
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	$ 108	$ 157	$ 131

XML

Pension and Other Postretirement Benefit (Future Benefit Payments and Contributions) (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2013	Dec. 31, 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	42	38	36
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	8	6	5
Health And Welfare Multiemployer Plans [Member]
Multiemployer Pension Plans [Line Items]
Contributions to multiemployer plans	17	18	19
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	407
2015	399
2016	387
2017	380
2018	371
2019-2023	1,714
Postretirement Benefits [Member]
Estimated future benefit payments
2014	72
2015	71
2016	68
2017	66
2018	63
2019-2023	$ 266

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	$	13,849	$	—	$	14,005
Expenses:
	Operating			69		8		8,047		—		8,124
	Selling, general and administrative			65		323		2,158		—		2,546
	Restructuring charges			—		1		19		—		20
	Depreciation and amortization			6		14		270		—		290
		Total expenses		140		346		10,494		—		10,980
Operating income (loss)				5		(335)		3,355		—		3,025
Interest (expense) income, net				(457)		(369)		459		—		(367)
Other items, net				—		4		3		—		7
Earnings (loss) from continuing operations
	before income taxes and equity in earnings
	(loss) of investee companies			(452)		(700)		3,817		—		2,665
(Provision) benefit for income taxes				152		235		(1,265)		—		(878)
Equity in earnings (loss) of investee companies,
	net of tax			2,170		1,288		(49)		(3,458)		(49)
Net earnings from continuing operations				1,870		823		2,503		(3,458)		1,738
Net earnings (loss) from discontinued operations,
	net of tax			9		(5)		137		—		141
Net earnings			$	1,879	$	818	$	2,640	$	(3,458)	$	1,879
Total comprehensive income			$	1,903	$	815	$	2,463	$	(3,278)	$	1,903

			Statement of Operations
			For the Year Ended December 31, 2012
			CBS Corp.		CBS Operations Inc.		Non-Guarantor Affiliates		Eliminations		CBS Corp. Consolidated
Revenues			$	157	$	15	$	12,648	$	—	$	12,820
Expenses:
	Operating			74		8		7,182		—		7,264
	Selling, general and administrative			87		251		2,104		—		2,442
	Restructuring charges			—		2		17		—		19
	Impairment charges			—		—		11		—		11
	Depreciation and amortization			6		14		286		—		306
		Total expenses		167		275		9,600		—		10,042
Operating income (loss)				(10)		(260)		3,048		—		2,778
Interest (expense) income, net				(480)		(351)		435		—		(396)
Net loss on early extinguishment of debt				(32)		—		—		—		(32)
Other items, net				1		(5)		11		—		7
Earnings (loss) from continuing operations
	before income taxes and equity in earnings
	(loss) of investee companies			(521)		(616)		3,494		—		2,357
(Provision) benefit for income taxes				183		215		(1,210)		—		(812)
Equity in earnings (loss) of investee companies,
	net of tax			1,886		1,145		(37)		(3,031)		(37)
Net earnings from continuing operations				1,548		744		2,247		(3,031)		1,508
Net earnings (loss) from discontinued operations,
	net of tax			26		(3)		43		—		66
Net earnings			$	1,574	$	741	$	2,290	$	(3,031)	$	1,574
Total comprehensive income			$	1,444	$	734	$	2,298	$	(3,032)	$	1,444

			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	$	12,231	$	—	$	12,381
Expenses:
	Operating			72		8		7,111		—		7,191
	Selling, general and administrative			109		246		2,057		—		2,412
	Restructuring charges			—		—		42		—		42
	Depreciation and amortization			5		15		293		—		313
		Total expenses		186		269		9,503		—		9,958
Operating income (loss)				(55)		(250)		2,728		—		2,423
Interest (expense) income, net				(514)		(341)		427		—		(428)
Other items, net				—		6		(18)		—		(12)
Earnings (loss) from continuing operations
	before income taxes and equity in earnings
	(loss) of investee companies			(569)		(585)		3,137		—		1,983
(Provision) benefit for income taxes				200		205		(1,086)		—		(681)
Equity in earnings (loss) of investee companies,
	net of tax			1,667		1,256		(39)		(2,923)		(39)
Net earnings from continuing operations				1,298		876		2,012		(2,923)		1,263
Net earnings from discontinued operations,
	net of tax			7		7		28		—		42
Net earnings			$	1,305	$	883	$	2,040	$	(2,923)	$	1,305
Total comprehensive income			$	1,152	$	883	$	2,023	$	(2,906)	$	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	$	287	$	—	$	368
Receivables, net			30		2		3,202		—		3,234
Programming and other inventory			4		2		766		—		772
Prepaid expenses and other current assets			179		18		474		(26)		645
Current assets of discontinued operations			—		—		351		—		351
	Total current assets		293		23		5,080		(26)		5,370
Property and equipment			37		137		2,923		—		3,097
	Less accumulated depreciation and amortization		9		83		1,532		—		1,624
	Net property and equipment		28		54		1,391		—		1,473
Programming and other inventory			5		—		1,692		—		1,697
Goodwill			98		62		6,536		—		6,696
Intangible assets			—		—		6,064		—		6,064
Investments in subsidiaries			40,454		10,415		—		(50,869)		—
Other assets			89		18		1,856		—		1,963
Intercompany			—		3,240		18,409		(21,649)		—
Assets of discontinued operations			—		—		3,124		—		3,124
Total Assets		$	40,967	$	13,812	$	44,152	$	(72,544)	$	26,387
Liabilities and Stockholders’ Equity
Accounts payable		$	1	$	8	$	277	$	—	$	286
Participants’ share and royalties payable			—		—		1,008		—		1,008
Program rights			5		2		391		—		398
Commercial paper			475		—		—		—		475
Current portion of long-term debt			5		—		15		—		20
Accrued expenses and other current liabilities			361		293		1,138		(26)		1,766
Current liabilities of discontinued operations			—		—		254		—		254
	Total current liabilities		847		303		3,083		(26)		4,207
Long-term debt			5,791		—		149		—		5,940
Other liabilities			2,714		317		2,766		—		5,797
Liabilities of discontinued operations			—		—		477		—		477
Intercompany			21,649		—		—		(21,649)		—
Stockholders’ Equity:
	Preferred stock		—		—		126		(126)		—
	Common stock		1		123		953		(1,076)		1
	Additional paid-in capital		43,474		—		61,678		(61,678)		43,474
	Retained earnings (deficit)		(24,890)		13,410		(20,406)		6,996		(24,890)
	Accumulated other comprehensive income (loss)		(545)		(10)		126		(116)		(545)
			18,040		13,523		42,477		(56,000)		18,040
	Less treasury stock, at cost		8,074		331		4,800		(5,131)		8,074
	Total Stockholders’ Equity		9,966		13,192		37,677		(50,869)		9,966
Total Liabilities and Stockholders’ Equity		$	40,967	$	13,812	$	44,152	$	(72,544)	$	26,387

		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	$	432	$	—	$	687
Receivables, net			31		2		2,885		—		2,918
Programming and other inventory			5		3		850		—		858
Prepaid expenses and other current assets			146		14		551		(26)		685
Current assets of discontinued operations			—		—		572		—		572
	Total current assets		436		20		5,290		(26)		5,720
Property and equipment			39		117		2,919		—		3,075
	Less accumulated depreciation and amortization		8		69		1,544		—		1,621
	Net property and equipment		31		48		1,375		—		1,454
Programming and other inventory			3		2		1,577		—		1,582
Goodwill			98		62		6,530		—		6,690
Intangible assets			—		—		6,092		—		6,092
Investments in subsidiaries			38,660		9,128		—		(47,788)		—
Other assets			171		14		1,322		—		1,507
Intercompany			—		3,672		16,111		(19,783)		—
Assets of discontinued operations			—		—		3,421		—		3,421
Total Assets		$	39,399	$	12,946	$	41,718	$	(67,597)	$	26,466
Liabilities and Stockholders’ Equity
Accounts payable		$	2	$	6	$	299	$	—	$	307
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			347		284		1,113		(26)		1,718
Current liabilities of discontinued operations			—		—		490		—		490
	Total current liabilities		360		294		3,313		(26)		3,941
Long-term debt			5,793		—		110		—		5,903
Other liabilities			3,250		275		2,352		—		5,877
Liabilities of discontinued operations			—		—		532		—		532
Intercompany			19,783		—		—		(19,783)		—
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)		12,592		(23,046)		10,454		(26,769)
	Accumulated other comprehensive income (loss)		(569)		(7)		303		(296)		(569)
			16,087		12,708		40,211		(52,919)		16,087
	Less treasury stock, at cost		5,874		331		4,800		(5,131)		5,874
	Total Stockholders’ Equity		10,213		12,377		35,411		(47,788)		10,213
Total Liabilities and Stockholders’ Equity		$	39,399	$	12,946	$	41,718	$	(67,597)	$	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			—		—		(20)		—		(20)
	Capital expenditures			—		(27)		(185)		—		(212)
	Investments in and advances to investee companies			—		—		(176)		—		(176)
	Proceeds from sale of investments			23		1		6		—		30
	Proceeds from dispositions			—		—		164		—		164
Net cash flow provided by (used for) investing activities
		from continuing operations		23		(26)		(211)		—		(214)
Net cash flow used for investing activities
		from discontinued operations		—		—		(58)		—		(58)
Net cash flow provided by (used for) investing activities				23		(26)		(269)		—		(272)
Financing Activities:
	Proceeds from short-term debt borrowings, net			475		—		—		—		475
	Payment of capital lease obligations			—		—		(17)		—		(17)
	Payment of contingent consideration			—		—		(30)		—		(30)
	Dividends			(300)		—		—		—		(300)
	Purchase of Company common stock			(2,185)		—		—		—		(2,185)
	Payment of payroll taxes in lieu of issuing
		shares for stock-based compensation		(145)		—		—		—		(145)
	Proceeds from exercise of stock options			146		—		—		—		146
	Excess tax benefit from stock-based compensation			148		—		—		—		148
	Other financing activities			(4)		—		—		—		(4)
	Increase (decrease) in intercompany payables			2,602		213		(2,815)		—		—
Net cash flow provided by (used for) financing
	activities			737		213		(2,862)		—		(1,912)
	Net decrease in cash and cash equivalents			(174)		—		(137)		—		(311)
	Cash and cash equivalents at beginning of year
	(includes $21 of discontinued operations cash)			254		1		453		—		708
Cash and cash equivalents at end of year (includes
$29 of discontinued operations cash)			$	80	$	1	$	316	$	—	$	397

			Statement of Cash Flows
			For the Year Ended December 31, 2012
			CBS Corp.		CBS Operations Inc.		Non-Guarantor Affiliates		Eliminations		CBS Corp. Consolidated
Net cash flow (used for) provided by operating
	activities		$	(827)	$	(179)	$	2,821	$	—	$	1,815
Investing Activities:
	Acquisitions, net of cash acquired			—		—		(146)		—		(146)
	Capital expenditures			—		(21)		(179)		—		(200)
	Investments in and advances to investee companies			—		—		(91)		—		(91)
	Proceeds from sale of investments			9		2		2		—		13
	Proceeds from dispositions			—		—		49		—		49
Net cash flow provided by (used for) investing activities
		from continuing operations		9		(19)		(365)		—		(375)
Net cash flow used for investing activities
		from discontinued operations		—		—		(76)		—		(76)
Net cash flow provided by (used for) investing activities				9		(19)		(441)		—		(451)
Financing Activities:
	Proceeds from issuance of notes			1,566		—		—		—		1,566
	Repayment of notes and debentures			(1,583)		—		—		—		(1,583)
	Payment of capital lease obligations			—		—		(19)		—		(19)
	Payment of contingent consideration			—		—		(33)		—		(33)
	Dividends			(276)		—		—		—		(276)
	Purchase of Company common stock			(1,137)		—		—		—		(1,137)
	Payment of payroll taxes in lieu of issuing
		shares for stock-based compensation		(105)		—		—		—		(105)
	Proceeds from exercise of stock options			168		—		—		—		168
	Excess tax benefit from stock-based compensation			103		—		—		—		103
	Increase (decrease) in intercompany payables			2,202		198		(2,400)		—		—
Net cash flow provided by (used for) financing
	activities			938		198		(2,452)		—		(1,316)
	Net increase (decrease) in cash and cash equivalents			120		—		(72)		—		48
	Cash and cash equivalents at beginning of year
	(includes $38 of discontinued operations cash)			134		1		525		—		660
Cash and cash equivalents at end of year (includes
$21 of discontinued operations cash)			$	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			—		—		(67)		—		(67)
	Capital expenditures			—		(14)		(185)		—		(199)
	Investments in and advances to investee companies			—		—		(79)		—		(79)
	Proceeds from sale of investments			8		4		—		—		12
	Proceeds from dispositions			—		—		17		—		17
Net cash flow provided by (used for) investing activities
		from continuing operations		8		(10)		(314)		—		(316)
Net cash flow used for investing activities
		from discontinued operations		—		—		(73)		—		(73)
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
	(includes $19 of discontinued operations cash)			105		1		374		—		480
Cash and cash equivalents at end of year (includes
$38 of discontinued operations cash)			$	134	$	1	$	525	$	—	$	660

XML

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
Corporate			—		1		—		1
	Total	$	41	$	19	$	(25)	$	35

XML

Commitments and Contingencies (Details) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Other Commitments [Line Items]
Operating leases, payments due 2014	$ 161
Operating leases, payments due 2015	141
Operating leases, payments due 2016	128
Operating leases, payments due 2017	117
Operating leases, payments due 2018	102
Operating leases, payments due 2019 and thereafter	468
Operating leases, total future minimum payments	1,117
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
Future minimum sublease income	72
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
Continuing Operations [Member]
Other Commitments [Line Items]
Rent expense	211	204	204
Discontinued Operations [Member]
Other Commitments [Line Items]
Operating leases, total future minimum payments	674
Rent expense	292	283	279
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] | Discontinued Operations [Member]
Other Commitments [Line Items]
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	4.80%	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 (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	20,000,000	18,000,000
Total long-term debt from continuing operations, net of current portion	5,940,000,000	5,903,000,000
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	6,435,000,000	5,921,000,000
Discontinued Operations [Member]
Total Debt [Line Items]
Total debt	14,000,000	14,000,000
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

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	$ 4,184	$ 4,234	$ 3,914
Postretirement Benefits [Member]
Fair value plan assets measured on recurring basis asset categories [Line Items]
Fair value of plan assets	5	5	5
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	63	169
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	133	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	278	409
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	2,373	2,360
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	700	594
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	291	286
Equity Securities [Member] | Pension Benefits [Member] | International Equity Securities [Member] | Emerging Markets Investments [Member]
Fair value plan assets measured on recurring basis asset categories [Line Items]
Fair value of plan assets	59	59
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	7
Level 1 [Member] | Pension Benefits [Member]
Fair value plan assets measured on recurring basis asset categories [Line Items]
Fair value of plan assets	628	521
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	133	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	44	56
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	345	264
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	3,497	3,657
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	55	144
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	234	353
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	2,373	2,360
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	355	330
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	291	281
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	7
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	$ 440	$ 418
Cash paid for income taxes	386	406	235
Non-cash investing and financing activities:
Equipment acquired under capitalized leases	58	13	7
Contingent consideration associated with acquisitions	0	4	56
Continuing Operations [Member]
Supplemental Cash Flow Information [Line Items]
Cash paid for income taxes	294	331	217
Discontinued Operations [Member]
Supplemental Cash Flow Information [Line Items]
Cash paid for income taxes	$ 92	$ 75	$ 18

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	$ (1,327,000,000)	$ (1,847,000,000)
Amounts recognized in accumulated other comprehensive income (loss) on the Consolidated Balance Sheets
Accumulated benefit obligation for all defined pension plans	4,950,000,000	5,430,000,000
Information for pension plans with accumulated benefit obligation in excess of plan assets
Projected benefit obligation	4,890,000,000	5,354,000,000
Accumulated benefit obligation	4,814,000,000	5,273,000,000
Fair value of plan assets	4,036,000,000	4,060,000,000
Pension Benefits [Member]
Amounts Recognized On Consolidated Balance Sheets [Line Items]
Funded status at end of year	(838,000,000)	(1,277,000,000)
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	(805,000,000)	(1,243,000,000)
Net amounts recognized	(838,000,000)	(1,277,000,000)
Amounts recognized in accumulated other comprehensive income (loss) on the Consolidated Balance Sheets
Net actuarial (loss) gain	(1,533,000,000)	(1,834,000,000)
Net prior service (cost) credit	(11,000,000)	(14,000,000)
Share of equity investee	0	(1,000,000)
Net amount recognized in accumulated other comprehensive income (loss) before tax	(1,544,000,000)	(1,849,000,000)
Deferred income taxes	612,000,000	731,000,000
Net amount recognized in accumulated other comprehensive income (loss)	(932,000,000)	(1,118,000,000)
Pension Benefits [Member] | Qualified Plans [Member]
Amounts Recognized On Consolidated Balance Sheets [Line Items]
Funded status at end of year	(203,000,000)	(582,000,000)
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

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	$	440	$	418
Cash paid for income taxes:
	Continuing operations	$	294	$	331	$	217
	Discontinued operations		92		75		18
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
	Contingent consideration associated with acquisitions	$	—	$	4	$	56

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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	$ 33,562,000,000	$ 33,556,000,000	$ 33,809,000,000
Accumulated impairment losses	(26,866,000,000)	(26,866,000,000)	(27,110,000,000)
Goodwill, net of impairment	6,696,000,000	6,690,000,000	6,699,000,000
Acquisitions	7,000,000	10,000,000
Dispositions	0	(8,000,000)
Impairment		(11,000,000)
Other	(1,000,000)
Finite-Lived Intangible Assets by Major Class [Line Items]
Finite-lived intangible assets, gross	433,000,000	442,000,000
Accumulated amortization	(201,000,000)	(182,000,000)
Finite-lived intangible assets, net	232,000,000	260,000,000
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	6,064,000,000	6,092,000,000
Total intangible assets, gross	6,265,000,000	6,274,000,000
Amortization Expense [Abstract]
Amortization expense	39,000,000	45,000,000	50,000,000
Aggregate annual amortization expense for existing intangible assets subject to amortization for future five years [Abstract]
2014	31,000,000
2015	23,000,000
2016	18,000,000
2017	14,000,000
2018	13,000,000
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	211,000,000	229,000,000
Accumulated amortization	(159,000,000)	(154,000,000)
Finite-lived intangible assets, net	52,000,000	75,000,000
Goodwill Gross [Member]
Goodwill Rollforward [Line Items]
Acquisitions	7,000,000	10,000,000
Dispositions	0	(263,000,000)
Impairment		0
Other	(1,000,000)
Accumulated Impairment Losses [Member]
Goodwill Rollforward [Line Items]
Acquisitions	0	0
Dispositions	0	255,000,000
Impairment		(11,000,000)
Other	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
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
Operating Segments [Member] | Entertainment Segment [Member] | Accumulated Impairment Losses [Member]
Goodwill Rollforward [Line Items]
Acquisitions	0	0
Dispositions	0	0
Impairment		0
Other	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
Operating Segments [Member] | Cable Networks Segment [Member] | Goodwill Gross [Member]
Goodwill Rollforward [Line Items]
Acquisitions	0	0
Dispositions	0	0
Impairment		0
Other	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
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)
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)
Operating Segments [Member] | Publishing Segment [Member] | Accumulated Impairment Losses [Member]
Goodwill Rollforward [Line Items]
Acquisitions	0	0
Dispositions	0	0
Impairment		0
Other	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
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
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

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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
	Capital		Operating
2014	$	21	$	161
2015		20		141
2016		19		128
2017		15		117
2018		15		102
2019 and thereafter		44		468
Total minimum payments	$	134	$	1,117
Less amounts representing interest		21
Present value of minimum payments	$	113

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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	95.00%
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	5.00%
International Pension Plans [Member] | Fixed Income Instruments [Member]
Pension plan target and actual asset allocations [Line Items]
Defined benefit plan, actual plan asset allocations	66.00%
International Pension Plans [Member] | Equity Securities [Member]
Pension plan target and actual asset allocations [Line Items]
Defined benefit plan, actual plan asset allocations	25.00%

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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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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	$ 42		$ 14	$ 21		$ 6	$ 40
Cumulative amount paid since restructuring activities began	$ 30	$ 25		$ 56			$ 22			$ 34

XML

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	$ 2,283	$ 2,030	$ 1,695
Foreign	382	327	288
Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of investee companies	2,665	2,357	1,983
Current Income Tax Expense Benefit Continuing Operations [Abstract]
Current federal income tax expense provision (benefit)	310	236	164
Current state and local income tax expense provision (benefit)	74	61	43
Current foreign income tax expense provision (benefit)	61	62	52
Total current income tax expense provision (benefit)	445	359	259
Deferred tax provision (benefit)	433	453	422
Provision (benefit) for income taxes	878	812	681
Provision (benefit) for income taxes for discontinued operations	6	62	83
Tax benefit relating to losses from equity investments	31	23	25
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

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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

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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. C							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	$	62		$	—	$	14		$	—	$	16	$	60
Year ended December 31, 2012	$	77		$	—	$	14		$	—	$	29	$	62
Year ended December 31, 2011	$	88		$	—	$	15		$	9	$	35	$	77
Valuation allowance on
deferred tax assets:
Year ended December 31, 2013	$	240		$	—	$	450	(b)	$	—	$	56	$	634
Year ended December 31, 2012	$	227		$	—	$	37		$	—	$	24	$	240
Year ended December 31, 2011	$	240		$	—	$	16		$	—	$	29	$	227
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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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) and Local Broadcasting (CBS Television Stations and CBS Radio). On April 2, 2014, CBS Outdoor Americas Inc. (“Outdoor Americas”), which had been a subsidiary of the Company, completed an initial public offering (“IPO”) through which it sold 23.0 million shares, or 19%, of its common stock. On July 16, 2014, the Company completed the disposition of its 81% ownership of Outdoor Americas common stock through a tax-free split-off. As a result, in the second quarter of 2014, Outdoor Americas was presented as a discontinued operation in the Company's consolidated financial statements. All prior periods have been recast to conform to this presentation. 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.

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
Equipment and other (including capital leases)	3 to 20 years

Depreciation expense, including capitalized lease amortization, was $251 million (2013), $261million (2012) and $263million (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 $130million 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 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 Americas and Outdoor Europe as discontinued operations(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 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 $449 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 $14million (2013 and 2012) and $15 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 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			$	197	$	(658)		$	2	$	173		$	(286)
	Other comprehensive income (loss)			17		(142)			—		(28)			(153)
At December 31, 2011				214		(800)			2		145			(439)
	Other comprehensive income (loss)			20		(136)			—		(14)			(130)
At December 31, 2012				234		(936)			2		131			(569)
	Other comprehensive income (loss)
		before reclassifications		8		163			1		(14)			158
	Reclassifications to net earnings			—		44	(a)		—		(178)	(c)		(134)
	Other comprehensive income (loss)			8		207			1		(192)			24
At December 31, 2013			$	242	$	(729)		$	3	$	(61)		$	(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 $(132)million, $80million and $74million, respectively, and other comprehensive loss from discontinued operations is net of a tax (provision) benefit of $(3)million, $1million and $4 million for the years ended December 31, 2013, 2012 and 2011, respectively. 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	$	129	$	105	$	94
Stock options and equivalents		93		42		40
Stock-based compensation expense, before income taxes		222		147		134
Related tax benefit		(86)		(57)		(52)
Stock-based compensation expense, net of tax benefit	$	136	$	90	$	82

Stock-based compensation included in net earnings (loss) from discontinued operations was $15 million, $7 million and $6million for 2013, 2012 and 2011, respectively.

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 SimilarTax Loss, or a Tax Credit Carryforward Exists

In July 2013, the FASB issued guidance on the presentation of the reserve for uncertain tax positionswhen a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. This guidancerequires the reserve for uncertain tax positions to be presented in the financial statements as a reduction tothe deferred tax asset for a tax loss or other tax carryforward that would be applied in the settlement of theuncertain tax position. This guidance is effective for interim and annual reporting periods beginning afterDecember 15, 2013, with early adoption permitted, and should be applied prospectively to all unrecognizedtax benefits that exist at the effective date. Retrospective application is also permitted. The adoption of thisguidance 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 ofobligations resulting from joint and several liability arrangements for which the total amount of theobligation is fixed at the reporting date. Under this guidance, the Company is required to measure itsobligations under such arrangements as the sum of the amount it agreed to pay in the arrangement amongits co-obligors and any additional amount the Company expects to pay on behalf of its co-obligors. TheCompany is also required to disclose the nature and amount of the obligation. The adoption of thisguidance will not have a material effect on the Company's consolidated financial statements, which iseffective for reporting periods beginning after December 15, 2013.

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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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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
	Corporate/Eliminations			(214)		(210)		(173)
		Total Revenues	$	14,005	$	12,820	$	12,381

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
		Total Intercompany Revenues	$	225	$	222	$	181

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
	Corporate			(332)		(292)		(301)
Total Segment OIBDA				3,335		3,114		2,778
Restructuring charges				(20)		(19)		(42)
Impairment charges				—		(11)		—
Depreciation and amortization				(290)		(306)		(313)
Operating income				3,025		2,778		2,423
	Interest expense			(375)		(401)		(433)
	Interest income			8		5		5
	Net loss on early extinguishment of debt			—		(32)		—
	Other items, net			7		7		(12)
Earnings from continuing operations before income
		taxes and equity in loss of investee companies		2,665		2,357		1,983
Provision for income taxes				(878)		(812)		(681)
Equity in loss of investee companies, net of tax				(49)		(37)		(39)
Net earnings from continuing operations				1,738		1,508		1,263
Net earnings from discontinued operations,
		net of tax		141		66		42
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
	Corporate			(358)		(316)		(325)
		Total Operating Income	$	3,025	$	2,778	$	2,423

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
	Corporate			25		23		24
		Total Depreciation and Amortization	$	290	$	306	$	313

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
	Corporate			127		65		60
		Total Stock-based Compensation	$	222	$	147	$	134

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
	Corporate			27		21		14
		Total Capital Expenditures	$	212	$	200	$	199

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
	Corporate			661		1,053
	Discontinued operations			3,475		3,993
		Total Assets	$	26,387	$	26,466

Revenues by type [Table Text Block]

Year Ended December 31,			2013		2012		2011
Revenues by Type:
	Advertising		$	7,525	$	7,191	$	7,145
	Content licensing and distribution			3,997		3,468		3,236
	Affiliate and subscription fees			2,221		1,921		1,762
	Other			262		240		238
		Total Revenues	$	14,005	$	12,820	$	12,381

Revenues by customer location [Table Text Block]

Year Ended December 31,			2013		2012		2011
Revenues:(a)
	United States		$	12,178	$	11,275	$	11,024
	International			1,827		1,545		1,357
		Total Revenues	$	14,005	$	12,820	$	12,381

(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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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
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 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 Americas and Outdoor Europe as discontinued operations(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 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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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. C							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	$	62		$	—	$	14		$	—	$	16	$	60
Year ended December 31, 2012	$	77		$	—	$	14		$	—	$	29	$	62
Year ended December 31, 2011	$	88		$	—	$	15		$	9	$	35	$	77
Valuation allowance on
deferred tax assets:
Year ended December 31, 2013	$	240		$	—	$	450	(b)	$	—	$	56	$	634
Year ended December 31, 2012	$	227		$	—	$	37		$	—	$	24	$	240
Year ended December 31, 2011	$	240		$	—	$	16		$	—	$	29	$	227
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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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	$ 188	$ 107
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
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%
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

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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	$	440	$	418
Cash paid for income taxes:
	Continuing operations	$	294	$	331	$	217
	Discontinued operations		92		75		18
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
	Contingent consideration associated with acquisitions	$	—	$	4	$	56

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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
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			$	197	$	(658)		$	2	$	173		$	(286)
	Other comprehensive income (loss)			17		(142)			—		(28)			(153)
At December 31, 2011				214		(800)			2		145			(439)
	Other comprehensive income (loss)			20		(136)			—		(14)			(130)
At December 31, 2012				234		(936)			2		131			(569)
	Other comprehensive income (loss)
		before reclassifications		8		163			1		(14)			158
	Reclassifications to net earnings			—		44	(a)		—		(178)	(c)		(134)
	Other comprehensive income (loss)			8		207			1		(192)			24
At December 31, 2013			$	242	$	(729)		$	3	$	(61)		$	(545)

Stock-based compensation [Table Text Block]

Year Ended December 31,	2013		2012		2011
RSUs and PSUs	$	129	$	105	$	94
Stock options and equivalents		93		42		40
Stock-based compensation expense, before income taxes		222		147		134
Related tax benefit		(86)		(57)		(52)
Stock-based compensation expense, net of tax benefit	$	136	$	90	$	82

XML

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
Total:
Goodwill		33,556			7		—		(1)		33,562
Accumulated impairment losses		(26,866)			—		—		—		(26,866)
Goodwill, net of impairment	$	6,690		$	7	$	—	$	(1)	$	6,696

• Primarily includes foreign currency translation adjustments.

	Balance at									Balance at
	December 31, 2011		Acquisitions			Dispositions		Impairment		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
Total:
Goodwill		33,809			10		(263)		—		33,556
Accumulated impairment losses		(27,110)			—		255		(11)		(26,866)
Goodwill, net of impairment	$	6,699		$	10	$	(8)	$	(11)	$	6,690

Schedule of intangible assets by major class [Table Text Block]

				Accumulated
At December 31, 2013			Gross	Amortization			Net
Intangible assets subject to amortization:
Trade names		$	222	$	(42)	$	180
Other intangible assets			211		(159)		52
	Total intangible assets subject to amortization		433		(201)		232
FCC licenses			5,832		—		5,832
	Total intangible assets	$	6,265	$	(201)	$	6,064
				Accumulated
At December 31, 2012			Gross	Amortization			Net
Intangible assets subject to amortization:
Trade names		$	213	$	(28)	$	185
Other intangible assets			229		(154)		75
	Total intangible assets subject to amortization		442		(182)		260
FCC licenses			5,832		—		5,832
	Total intangible assets	$	6,274	$	(182)	$	6,092

Schedule of expected amortization expense [Table Text Block]

		2014		2015		2016		2017		2018
Amortization expense	$	31	$	23	$	18	$	14	$	13

XML

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

XML

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	$	1,695	$	1,873	$	1,885
Earnings (loss) from discontinued operations	$	(12)	$	128	$	125
Income tax provision		—		(62)		(83)
Earnings (loss) from discontinued operations, net of tax		(12)		66		42
Gain on disposal		159		—		—
Income tax provision		(6)		—		—
Gain on disposal, net of tax		153		—		—
Net earnings from discontinued operations, net of tax	$	141	$	66	$	42

At December 31,		2013		2012
Current assets	$	351	$	572
Goodwill		1,866		1,926
Intangible assets		366		428
Net property and equipment		763		919
Other assets		129		148
Total Assets	$	3,475	$	3,993
Current liabilities	$	254	$	490
Other liabilities		477		532
Total Liabilities	$	731	$	1,022

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	$ 3,571,000,000	$ 3,302,000,000	$ 3,369,000,000	$ 3,763,000,000	$ 3,363,000,000	$ 2,943,000,000	$ 3,001,000,000	$ 3,513,000,000	$ 14,005,000,000	$ 12,820,000,000	$ 12,381,000,000
Expenses:
Operating									8,124,000,000	7,264,000,000	7,191,000,000
Selling, general and administrative									2,546,000,000	2,442,000,000	2,412,000,000
Restructuring charges									20,000,000	19,000,000	42,000,000
Impairment charges									0	11,000,000	0
Depreciation and amortization	73,000,000	70,000,000	73,000,000	74,000,000	79,000,000	73,000,000	78,000,000	76,000,000	290,000,000	306,000,000	313,000,000
Total expenses									10,980,000,000	10,042,000,000	9,958,000,000
Operating income (loss)	715,000,000	764,000,000	775,000,000	771,000,000	676,000,000	727,000,000	730,000,000	645,000,000	3,025,000,000	2,778,000,000	2,423,000,000
Interest (expense) income, net									(367,000,000)	(396,000,000)	(428,000,000)
Net loss on early extinguishment of debt									0	(32,000,000)	0
Other items, net									7,000,000	7,000,000	(12,000,000)
Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of investee companies									2,665,000,000	2,357,000,000	1,983,000,000
(Provision) benefit for income taxes									(878,000,000)	(812,000,000)	(681,000,000)
Equity in earnings (loss) of investee companies, net of tax									(49,000,000)	(37,000,000)	(39,000,000)
Net earnings (loss) from continuing operations	422,000,000	431,000,000	435,000,000	450,000,000	375,000,000	362,000,000	402,000,000	369,000,000	1,738,000,000	1,508,000,000	1,263,000,000
Net earnings (loss) from discontinued operations, net of tax (Note 3)									141,000,000	66,000,000	42,000,000
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	368,000,000				687,000,000				368,000,000	687,000,000
Receivables, net	3,234,000,000				2,918,000,000				3,234,000,000	2,918,000,000
Programming and other inventory (Note 5)	772,000,000				858,000,000				772,000,000	858,000,000
Prepaid expenses and other current assets	645,000,000				685,000,000				645,000,000	685,000,000
Current assets of discontinued operations (Note 3)	351,000,000				572,000,000				351,000,000	572,000,000
Total current assets	5,370,000,000				5,720,000,000				5,370,000,000	5,720,000,000
Property and equipment	3,097,000,000				3,075,000,000				3,097,000,000	3,075,000,000
Less accumulated depreciation and amortization	1,624,000,000				1,621,000,000				1,624,000,000	1,621,000,000
Net property and equipment	1,473,000,000				1,454,000,000				1,473,000,000	1,454,000,000
Programming and other inventory (Note 5)	1,697,000,000				1,582,000,000				1,697,000,000	1,582,000,000
Goodwill	6,696,000,000				6,690,000,000				6,696,000,000	6,690,000,000	6,699,000,000
Intangible assets (Note 2)	6,064,000,000				6,092,000,000				6,064,000,000	6,092,000,000
Investments in subsidiaries	0				0				0	0
Other assets	1,963,000,000				1,507,000,000				1,963,000,000	1,507,000,000
Intercompany	0				0				0	0
Assets of discontinued operations	3,124,000,000				3,421,000,000				3,124,000,000	3,421,000,000
Total assets	26,387,000,000				26,466,000,000				26,387,000,000	26,466,000,000
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	286,000,000				307,000,000				286,000,000	307,000,000
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	20,000,000				18,000,000				20,000,000	18,000,000
Accrued expenses and other current liabilities	1,766,000,000				1,718,000,000				1,766,000,000	1,718,000,000
Current liabilities of discontinued operations (Note 3)	254,000,000				490,000,000				254,000,000	490,000,000
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				5,903,000,000				5,940,000,000	5,903,000,000
Other liabilities	5,797,000,000				5,877,000,000				5,797,000,000	5,877,000,000
Liabilities of discontinued operations (Note 3)	477,000,000				532,000,000				477,000,000	532,000,000
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									(20,000,000)	(146,000,000)	(67,000,000)
Capital expenditures									(212,000,000)	(200,000,000)	(199,000,000)
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									164,000,000	49,000,000	17,000,000
Net cash flow provided by (used for) investing activities from continuing operations									(214,000,000)	(375,000,000)	(316,000,000)
Net cash flow provided by (used for) investing activities from discontinued operations									(58,000,000)	(76,000,000)	(73,000,000)
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, including discontinued operations, at beginning of period				708,000,000				660,000,000	708,000,000	660,000,000	480,000,000
Cash and cash equivalents, including discontinued operations, at end of period	397,000,000				708,000,000				397,000,000	708,000,000	660,000,000
Cash and cash equivalents of discontinued operations	29,000,000				21,000,000				29,000,000	21,000,000	38,000,000	19,000,000
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									(3,458,000,000)	(3,031,000,000)	(2,923,000,000)
Net earnings (loss) from continuing operations									(3,458,000,000)	(3,031,000,000)	(2,923,000,000)
Net earnings (loss) from discontinued operations, net of tax (Note 3)									0	0	0
Net earnings (loss)									(3,458,000,000)	(3,031,000,000)	(2,923,000,000)
Total comprehensive income									(3,278,000,000)	(3,032,000,000)	(2,906,000,000)
ASSETS
Cash and cash equivalents	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)
Current assets of discontinued operations (Note 3)	0				0				0	0
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 subsidiaries	(50,869,000,000)				(47,788,000,000)				(50,869,000,000)	(47,788,000,000)
Other assets	0				0				0	0
Intercompany	(21,649,000,000)				(19,783,000,000)				(21,649,000,000)	(19,783,000,000)
Assets of discontinued operations	0				0				0	0
Total assets	(72,544,000,000)				(67,597,000,000)				(72,544,000,000)	(67,597,000,000)
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)
Current liabilities of discontinued operations (Note 3)	0				0				0	0
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
Liabilities of discontinued operations (Note 3)	0				0				0	0
Intercompany	(21,649,000,000)				(19,783,000,000)				(21,649,000,000)	(19,783,000,000)
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)	6,996,000,000				10,454,000,000				6,996,000,000	10,454,000,000
Accumulated other comprehensive income (loss)	(116,000,000)				(296,000,000)				(116,000,000)	(296,000,000)
Stockholders' equity including treasury stock	(56,000,000,000)				(52,919,000,000)				(56,000,000,000)	(52,919,000,000)
Less treasury stock, at cost	(5,131,000,000)				(5,131,000,000)				(5,131,000,000)	(5,131,000,000)
Total Stockholders' Equity	(50,869,000,000)				(47,788,000,000)				(50,869,000,000)	(47,788,000,000)
Total Liabilities and Stockholders' Equity	(72,544,000,000)				(67,597,000,000)				(72,544,000,000)	(67,597,000,000)
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, including discontinued operations, at beginning of period				0				0	0	0	0
Cash and cash equivalents, including discontinued operations, at end of period	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									152,000,000	183,000,000	200,000,000
Equity in earnings (loss) of investee companies, net of tax									2,170,000,000	1,886,000,000	1,667,000,000
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
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				146,000,000				179,000,000	146,000,000
Current assets of discontinued operations (Note 3)	0				0				0	0
Total current assets	293,000,000				436,000,000				293,000,000	436,000,000
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 subsidiaries	40,454,000,000				38,660,000,000				40,454,000,000	38,660,000,000
Other assets	89,000,000				171,000,000				89,000,000	171,000,000
Intercompany	0				0				0	0
Assets of discontinued operations	0				0				0	0
Total assets	40,967,000,000				39,399,000,000				40,967,000,000	39,399,000,000
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				347,000,000				361,000,000	347,000,000
Current liabilities of discontinued operations (Note 3)	0				0				0	0
Total current liabilities	847,000,000				360,000,000				847,000,000	360,000,000
Long-term debt (Note 8)	5,791,000,000				5,793,000,000				5,791,000,000	5,793,000,000
Other liabilities	2,714,000,000				3,250,000,000				2,714,000,000	3,250,000,000
Liabilities of discontinued operations (Note 3)	0				0				0	0
Intercompany	21,649,000,000				19,783,000,000				21,649,000,000	19,783,000,000
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	40,967,000,000				39,399,000,000				40,967,000,000	39,399,000,000
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, including discontinued operations, at beginning of period				254,000,000				134,000,000	254,000,000	134,000,000	105,000,000
Cash and cash equivalents, including discontinued operations, at end of period	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									323,000,000	251,000,000	246,000,000
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									346,000,000	275,000,000	269,000,000
Operating income (loss)									(335,000,000)	(260,000,000)	(250,000,000)
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									(700,000,000)	(616,000,000)	(585,000,000)
(Provision) benefit for income taxes									235,000,000	215,000,000	205,000,000
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									823,000,000	744,000,000	876,000,000
Net earnings (loss) from discontinued operations, net of tax (Note 3)									(5,000,000)	(3,000,000)	7,000,000
Net earnings (loss)									818,000,000	741,000,000	883,000,000
Total comprehensive income									815,000,000	734,000,000	883,000,000
ASSETS
Cash and cash equivalents	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
Current assets of discontinued operations (Note 3)	0				0				0	0
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 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	3,240,000,000				3,672,000,000				3,240,000,000	3,672,000,000
Assets of discontinued operations	0				0				0	0
Total assets	13,812,000,000				12,946,000,000				13,812,000,000	12,946,000,000
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				284,000,000				293,000,000	284,000,000
Current liabilities of discontinued operations (Note 3)	0				0				0	0
Total current liabilities	303,000,000				294,000,000				303,000,000	294,000,000
Long-term debt (Note 8)	0				0				0	0
Other liabilities	317,000,000				275,000,000				317,000,000	275,000,000
Liabilities of discontinued operations (Note 3)	0				0				0	0
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)	13,410,000,000				12,592,000,000				13,410,000,000	12,592,000,000
Accumulated other comprehensive income (loss)	(10,000,000)				(7,000,000)				(10,000,000)	(7,000,000)
Stockholders' equity including treasury stock	13,523,000,000				12,708,000,000				13,523,000,000	12,708,000,000
Less treasury stock, at cost	331,000,000				331,000,000				331,000,000	331,000,000
Total Stockholders' Equity	13,192,000,000				12,377,000,000				13,192,000,000	12,377,000,000
Total Liabilities and Stockholders' Equity	13,812,000,000				12,946,000,000				13,812,000,000	12,946,000,000
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, including discontinued operations, at beginning of period				1,000,000				1,000,000	1,000,000	1,000,000	1,000,000
Cash and cash equivalents, including discontinued operations, at end of period	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									13,849,000,000	12,648,000,000	12,231,000,000
Expenses:
Operating									8,047,000,000	7,182,000,000	7,111,000,000
Selling, general and administrative									2,158,000,000	2,104,000,000	2,057,000,000
Restructuring charges									19,000,000	17,000,000	42,000,000
Impairment charges										11,000,000
Depreciation and amortization									270,000,000	286,000,000	293,000,000
Total expenses									10,494,000,000	9,600,000,000	9,503,000,000
Operating income (loss)									3,355,000,000	3,048,000,000	2,728,000,000
Interest (expense) income, net									459,000,000	435,000,000	427,000,000
Net loss on early extinguishment of debt										0
Other items, net									3,000,000	11,000,000	(18,000,000)
Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of investee companies									3,817,000,000	3,494,000,000	3,137,000,000
(Provision) benefit for income taxes									(1,265,000,000)	(1,210,000,000)	(1,086,000,000)
Equity in earnings (loss) of investee companies, net of tax									(49,000,000)	(37,000,000)	(39,000,000)
Net earnings (loss) from continuing operations									2,503,000,000	2,247,000,000	2,012,000,000
Net earnings (loss) from discontinued operations, net of tax (Note 3)									137,000,000	43,000,000	28,000,000
Net earnings (loss)									2,640,000,000	2,290,000,000	2,040,000,000
Total comprehensive income									2,463,000,000	2,298,000,000	2,023,000,000
ASSETS
Cash and cash equivalents	287,000,000				432,000,000				287,000,000	432,000,000
Receivables, net	3,202,000,000				2,885,000,000				3,202,000,000	2,885,000,000
Programming and other inventory (Note 5)	766,000,000				850,000,000				766,000,000	850,000,000
Prepaid expenses and other current assets	474,000,000				551,000,000				474,000,000	551,000,000
Current assets of discontinued operations (Note 3)	351,000,000				572,000,000				351,000,000	572,000,000
Total current assets	5,080,000,000				5,290,000,000				5,080,000,000	5,290,000,000
Property and equipment	2,923,000,000				2,919,000,000				2,923,000,000	2,919,000,000
Less accumulated depreciation and amortization	1,532,000,000				1,544,000,000				1,532,000,000	1,544,000,000
Net property and equipment	1,391,000,000				1,375,000,000				1,391,000,000	1,375,000,000
Programming and other inventory (Note 5)	1,692,000,000				1,577,000,000				1,692,000,000	1,577,000,000
Goodwill	6,536,000,000				6,530,000,000				6,536,000,000	6,530,000,000
Intangible assets (Note 2)	6,064,000,000				6,092,000,000				6,064,000,000	6,092,000,000
Investments in subsidiaries	0				0				0	0
Other assets	1,856,000,000				1,322,000,000				1,856,000,000	1,322,000,000
Intercompany	18,409,000,000				16,111,000,000				18,409,000,000	16,111,000,000
Assets of discontinued operations	3,124,000,000				3,421,000,000				3,124,000,000	3,421,000,000
Total assets	44,152,000,000				41,718,000,000				44,152,000,000	41,718,000,000
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	277,000,000				299,000,000				277,000,000	299,000,000
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	15,000,000				13,000,000				15,000,000	13,000,000
Accrued expenses and other current liabilities	1,138,000,000				1,113,000,000				1,138,000,000	1,113,000,000
Current liabilities of discontinued operations (Note 3)	254,000,000				490,000,000				254,000,000	490,000,000
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				110,000,000				149,000,000	110,000,000
Other liabilities	2,766,000,000				2,352,000,000				2,766,000,000	2,352,000,000
Liabilities of discontinued operations (Note 3)	477,000,000				532,000,000				477,000,000	532,000,000
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)	(20,406,000,000)				(23,046,000,000)				(20,406,000,000)	(23,046,000,000)
Accumulated other comprehensive income (loss)	126,000,000				303,000,000				126,000,000	303,000,000
Stockholders' equity including treasury stock	42,477,000,000				40,211,000,000				42,477,000,000	40,211,000,000
Less treasury stock, at cost	4,800,000,000				4,800,000,000				4,800,000,000	4,800,000,000
Total Stockholders' Equity	37,677,000,000				35,411,000,000				37,677,000,000	35,411,000,000
Total Liabilities and Stockholders' Equity	44,152,000,000				41,718,000,000				44,152,000,000	41,718,000,000
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									(20,000,000)	(146,000,000)	(67,000,000)
Capital expenditures									(185,000,000)	(179,000,000)	(185,000,000)
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									164,000,000	49,000,000	17,000,000
Net cash flow provided by (used for) investing activities from continuing operations									(211,000,000)	(365,000,000)	(314,000,000)
Net cash flow provided by (used for) investing activities from discontinued operations									(58,000,000)	(76,000,000)	(73,000,000)
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, including discontinued operations, at beginning of period				453,000,000				525,000,000	453,000,000	525,000,000	374,000,000
Cash and cash equivalents, including discontinued operations, at end of period	$ 316,000,000				$ 453,000,000				$ 316,000,000	$ 453,000,000	$ 525,000,000

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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		$	2,283	$	2,030	$	1,695
Foreign			382		327		288
	Total	$	2,665	$	2,357	$	1,983

Income tax provision components [Table Text Block]

Year Ended December 31,			2013		2012		2011
Current:
	Federal	$	310	$	236	$	164
	State and local		74		61		43
	Foreign		61		62		52
			445		359		259
Deferred			433		453		422
	Provision for income taxes	$	878	$	812	$	681

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	$	933	$	825	$	694
State and local taxes, net of federal tax benefit		101		84		73
Effect of foreign operations		(92)		(67)		(63)
Audit settlements, net		(17)		(3)		(10)
Other, net (a)		(47)		(27)		(13)
Provision for income taxes	$	878	$	812	$	681

(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	$	700	$	775
	Pension, postretirement and other employee benefits		422		629
	Tax credit and loss carryforwards		664		270
	Other		163		133
Total deferred income tax assets			1,949		1,807
	Valuation allowance		(634)		(240)
Deferred income tax assets, net			1,315		1,567
Deferred income tax liabilities:
	Intangible assets		(1,943)		(1,851)
	Property, equipment and other assets		(522)		(429)
Total deferred income tax liabilities			(2,465)		(2,280)
Deferred income tax liabilities, net		$	(1,150)	$	(713)

Change in reserve for uncertain tax positions [Table Text Block]

At January 1, 2011	$	211
Additions for current year tax positions		11
Additions for prior year tax positions		9
Reductions for prior year tax positions		(18)
Cash settlements		(23)
Statute of limitations lapses		(1)
At December 31, 2011		189
Additions for current year tax positions		12
Additions for prior year tax positions		10
Reductions for prior year tax positions		(32)
Cash settlements		(5)
Statute of limitations lapses		(2)
At December 31, 2012		172
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	$	139

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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	$ 41
Restructuring charges	20	19	42
Payments to settle restructuring reserves	(30)	(25)		(56)
Restructuring reserve, ending balance	25	35	41	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
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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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	$ (132)	$ 80	$ 74
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	1
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	218
Amortization of actuarial losses (gains)	85
Amortization of prior service (credit) cost	1
Share of equity investee	1
Recognized in other comprehensive income, before tax	305
Deferred income taxes	(119)
Recognized in other comprehensive income, net of tax	186
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	38	34	33
Interest cost	211	240	247
Expected return on plan assets	(271)	(247)	(237)
Amortization of actuarial losses (gains)	85	70	65
Amortization of prior service cost (credit)	1	1	1
Net periodic cost	64	98	109
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

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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	$ 14,005,000,000	$ 12,820,000,000	$ 12,381,000,000
Expenses:
Operating	8,124,000,000	7,264,000,000	7,191,000,000
Selling, general and administrative	2,546,000,000	2,442,000,000	2,412,000,000
Restructuring charges (Note 4)	20,000,000	19,000,000	42,000,000
Impairment charges (Note 2)	0	11,000,000	0
Depreciation and amortization	290,000,000	306,000,000	313,000,000
Total expenses	10,980,000,000	10,042,000,000	9,958,000,000
Operating income (loss)	3,025,000,000	2,778,000,000	2,423,000,000
Interest expense	(375,000,000)	(401,000,000)	(433,000,000)
Interest income	8,000,000	5,000,000	5,000,000
Net loss on early extinguishment of debt (Note 8)	0	(32,000,000)	0
Other items, net	7,000,000	7,000,000	(12,000,000)
Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of investee companies	2,665,000,000	2,357,000,000	1,983,000,000
(Provision) benefit for income taxes	(878,000,000)	(812,000,000)	(681,000,000)
Equity in loss of investee companies, net of tax	(49,000,000)	(37,000,000)	(39,000,000)
Net earnings (loss) from continuing operations	1,738,000,000	1,508,000,000	1,263,000,000
Net earnings (loss) from discontinued operations, net of tax (Note 3)	141,000,000	66,000,000	42,000,000
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)	$ 2.86	$ 2.35	$ 1.90
Basic net earnings (loss) from discontinued operations (in dollars per share)	$ 0.23	$ 0.10	$ 0.06
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)	$ 2.79	$ 2.29	$ 1.85
Diluted net earnings (loss) from discontinued operations (in dollars per share)	$ 0.23	$ 0.10	$ 0.06
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

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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) (b)	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
	Corporate/Eliminations			(63)		(44)		(43)		(64)		(214)
		Total Revenues	$	3,763	$	3,369	$	3,302	$	3,571	$	14,005
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
	Corporate			(77)		(64)		(82)		(109)		(332)
Total Segment OIBDA				845		848		834		808		3,335
Restructuring charges				—		—		—		(20)		(20)
Depreciation and amortization				(74)		(73)		(70)		(73)		(290)
		Total Operating Income	$	771	$	775	$	764	$	715	$	3,025
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
	Corporate			(82)		(72)		(87)		(117)		(358)
		Total Operating Income	$	771	$	775	$	764	$	715	$	3,025
Net earnings from continuing operations			$	450	$	435	$	431	$	422	$	1,738
Net earnings			$	443	$	472	$	494	$	470	$	1,879
Basic net earnings per common share:
	Net earnings from continuing operations		$	.72	$	.71	$	.71	$	.70	$	2.86
	Net earnings		$	.71	$	.78	$	.82	$	.78	$	3.09
Diluted net earnings per common share:
	Net earnings from continuing operations		$	.71	$	.70	$	.70	$	.69	$	2.79
	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

• On July 16, 2014, the Company completed the split-off ofOutdoor Americasand as a result, Outdoor Americas has been presented as a discontinued operation in the consolidated financial statements for all periods presented.
• 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) (b)	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
	Corporate/Eliminations			(55)		(45)		(44)		(66)		(210)
		Total Revenues	$	3,513	$	3,001	$	2,943	$	3,363	$	12,820
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
	Corporate			(69)		(65)		(63)		(95)		(292)
Total Segment OIBDA				732		808		800		774		3,114
Restructuring charges				—		—		—		(19)		(19)
Impairment charges				(11)		—		—		—		(11)
Depreciation and amortization				(76)		(78)		(73)		(79)		(306)
		Total Operating Income	$	645	$	730	$	727	$	676	$	2,778
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
	Corporate			(75)		(71)		(68)		(102)		(316)
		Total Operating Income	$	645	$	730	$	727	$	676	$	2,778
Net earnings from continuing operations			$	369	$	402	$	362	$	375	$	1,508
Net earnings			$	363	$	427	$	391	$	393	$	1,574
Basic net earnings per common share:
	Net earnings from continuing operations		$	.57	$	.62	$	.57	$	.59	$	2.35
	Net earnings		$	.56	$	.66	$	.61	$	.62	$	2.45
Diluted net earnings per common share:
	Net earnings from continuing operations		$	.55	$	.61	$	.55	$	.58	$	2.29
	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

• On July 16, 2014, the Company completed the split-off of Outdoor Americas and as a result, Outdoor Americas has been presented as a discontinued operation in the consolidated financial statements for all periods presented.
• 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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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	141,000,000	66,000,000	42,000,000
Net earnings (loss) from continuing operations	1,738,000,000	1,508,000,000	1,263,000,000
Adjustments to reconcile net earnings (loss) from continuing operations to net cash flow provided by (used for) operating activities from continuing operations:
Depreciation and amortization	290,000,000	306,000,000	313,000,000
Impairment charges	0	11,000,000	0
Deferred tax provision (benefit)	433,000,000	453,000,000	422,000,000
Stock-based compensation	222,000,000	147,000,000	134,000,000
Redemption of debt	0	(28,000,000)	0
Net loss (gain) on dispositions and write-down of assets	(3,000,000)	(2,000,000)	10,000,000
Equity in loss of investee companies, net of tax and distributions	57,000,000	48,000,000	46,000,000
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	(777,000,000)	(237,000,000)	(29,000,000)
(Decrease) increase in inventory and related program and participation liabilities, net	48,000,000	(414,000,000)	(159,000,000)
(Increase) decrease in other assets	(19,000,000)	28,000,000	45,000,000
Decrease in accounts payable and accrued expenses	(135,000,000)	(25,000,000)	(102,000,000)
Decrease in pension and postretirement obligations	(188,000,000)	(190,000,000)	(380,000,000)
Increase (decrease) in income taxes	9,000,000	(75,000,000)	(49,000,000)
Increase (decrease) in deferred revenue	90,000,000	(29,000,000)	(77,000,000)
Other, net	4,000,000	(8,000,000)	6,000,000
Net cash flow provided by (used for) operating activities from continuing operations	1,779,000,000	1,505,000,000	1,456,000,000
Net cash flow provided by (used for) operating activities from discontinued operations	94,000,000	310,000,000	293,000,000
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	(20,000,000)	(146,000,000)	(67,000,000)
Capital expenditures	(212,000,000)	(200,000,000)	(199,000,000)
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	164,000,000	49,000,000	17,000,000
Net cash flow provided by (used for) investing activities from continuing operations	(214,000,000)	(375,000,000)	(316,000,000)
Net cash flow provided by (used for) investing activities from discontinued operations	(58,000,000)	(76,000,000)	(73,000,000)
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, including discontinued operations, at beginning of period	708,000,000	660,000,000	480,000,000
Cash and cash equivalents, including discontinued operations, at end of period	$ 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, 2011
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
Credit Facility [Line Items]
Commercial paper	475,000,000	0
Commercial Paper [Member]
Credit Facility [Line Items]
Weighted average interest rate	0.30%
Other Items Net [Member]
Gains (losses) recognized on derivative financial instruments [Line Items]
Non-designated hedging instruments	2,000,000	(4,000,000)	2,000,000
Cash Flow Hedge [Member]
Derivative [Line Items]
Notional amount of all foreign currency contracts	136,000,000	157,000,000
Not Designated as Hedging Instrument [Member] | Other Current Liabilities [Member] | Cash Flow Hedge [Member]
Derivative [Line Items]
Fair value of foreign exchange contracts, liabilities	4,000,000	2,000,000
Not Designated as Hedging Instrument [Member] | Other Current Assets [Member] | Cash Flow Hedge [Member]
Derivative [Line Items]
Fair value of foreign exchange contracts, assets	$ 3,000,000	$ 0

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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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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	54
Unrecognized future expense of unvested RSUs and PSUs	167
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 4 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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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 and purchase obligations for goods and services 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, equipment, transponders and studio facilities. The Company also enters into capital leases for satellite transponders.

       At December 31, 2013, future minimum rental payments under noncancellable operating leases with terms in excess of one year and payments under capital leasesare as follows:

	Leases
	Capital		Operating
2014	$	21	$	161
2015		20		141
2016		19		128
2017		15		117
2018		15		102
2019 and thereafter		44		468
Total minimum payments	$	134	$	1,117
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 $211 million (2013) and $204 million (2012 and 2011).Included in net earnings from discontinued operations was additional rent expense of $292 million (2013), $283 million (2012) and $279 million (2011).

       The table above does not include contractual obligations of Outdoor Americas, which is presented as a discontinued operation in the consolidated financial statements. These obligations are mainly comprised of long-term noncancellable operating lease commitments of $674 million and guaranteed minimum franchise payments of $331 million.

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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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)		14		14
Total debt from continuing operations			6,435		5,921
	Less commercial paper		475		—
	Less current portion		20		18
Total long-term debt from continuing operations, net of current portion		$	5,940	$	5,903

(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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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 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	$ 933,000,000	$ 825,000,000	$ 694,000,000
State and local taxes, net of federal tax benefit	101,000,000	84,000,000	73,000,000
Effect of foreign operations	(92,000,000)	(67,000,000)	(63,000,000)
Audit settlements, net	(17,000,000)	(3,000,000)	(10,000,000)
Other, net	(47,000,000)	(27,000,000)	(13,000,000)
Provision (benefit) for income taxes	878,000,000	812,000,000	681,000,000
Deferred income tax assets:
Provision for expenses and losses	700,000,000	775,000,000
Pension, postretirement and other employee benefits	422,000,000	629,000,000
Tax credit and loss carryforwards	664,000,000	270,000,000
Deferred income tax assets other	163,000,000	133,000,000
Total deferred income tax assets	1,949,000,000	1,807,000,000
Deferred tax assets valuation allowance	(634,000,000)	(240,000,000)
Net deferred income tax assets	1,315,000,000	1,567,000,000
Deferred tax liabilities:
Intangible assets	(1,943,000,000)	(1,851,000,000)
Property, equipment and other assets	(522,000,000)	(429,000,000)
Total deferred income tax liabilities	(2,465,000,000)	(2,280,000,000)
Deferred income tax liabilities, net	(1,150,000,000)	(713,000,000)
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	1,190,000,000
Net noncurrent deferred income taxes liabilities of discontinued operations	182,000,000	250,000,000
Company's share of undistributed earnings of foreign subsidiaries not included in its consolidated federal income tax return	4,080,000,000	3,710,000,000
Change in the reserve for uncertain tax positions, excluding related accrued interest and penalties
Unrecognized tax benefits, beginning of year	172,000,000	189,000,000	211,000,000
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	9,000,000
Reductions for prior year tax positions	(40,000,000)	(32,000,000)	(18,000,000)
Cash settlements	(17,000,000)	(5,000,000)	(23,000,000)
Statute of limitation lapses	(1,000,000)	(2,000,000)	(1,000,000)
Unrecognized tax benefits, end of year	139,000,000	172,000,000	189,000,000
Reserve for uncertain tax positions, discontinued operations	53,000,000	57,000,000
Unrecognized tax benefits that would impact effective tax rate	112,000,000
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	$ 56,000,000	$ 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 Cash Flows (Parenthetical) (USD $) In Millions, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Consolidated Statements of Cash Flows [Abstract]
Cash and cash equivalents of discontinued operations	$ 29	$ 21	$ 38	$ 19

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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
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 adjustment									8	20	17
Net actuarial gain (loss) and prior service cost									207	(136)	(142)
Unrealized gain (loss) on securities									1	0	0
Total other comprehensive income (loss), net of tax									216	(116)	(125)
Discontinued Operations [Member]
Other comprehensive income (loss), net of tax:
Total other comprehensive income (loss), net of tax									(192)
Other comprehensive income (loss) before reclassifications									(14)	(14)	(28)
Reclassifications from accumulated other comprehensive income (loss) to net earnings									$ (178)	$ 0	$ 0

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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%.

       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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Document and Entity Information	12 Months Ended
	Dec. 31, 2013
Document And Entity Information [Abstract]
Entity Registrant Name	CBS Corporation
Entity Central Index Key	0000813828
Document Type	8-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

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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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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									$ (375,000,000)	$ (401,000,000)	$ (433,000,000)
Interest income									8,000,000	5,000,000	5,000,000
Net loss on early extinguishment of debt									0	(32,000,000)	0
Other items, net									7,000,000	7,000,000	(12,000,000)
Earnings (loss) from continuing operations before income taxes and equity in earnings (loss) of investee companies									2,665,000,000	2,357,000,000	1,983,000,000
(Provision) benefit for income taxes									(878,000,000)	(812,000,000)	(681,000,000)
Equity in loss of investee companies, net of tax									(49,000,000)	(37,000,000)	(39,000,000)
Net earnings (loss) from continuing operations	422,000,000	431,000,000	435,000,000	450,000,000	375,000,000	362,000,000	402,000,000	369,000,000	1,738,000,000	1,508,000,000	1,263,000,000
Net earnings (loss) from discontinued operations, net of tax (Note 3)									141,000,000	66,000,000	42,000,000
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	3,571,000,000	3,302,000,000	3,369,000,000	3,763,000,000	3,363,000,000	2,943,000,000	3,001,000,000	3,513,000,000	14,005,000,000	12,820,000,000	12,381,000,000
Segment OIBDA	808,000,000	834,000,000	848,000,000	845,000,000	774,000,000	800,000,000	808,000,000	732,000,000	3,335,000,000	3,114,000,000	2,778,000,000
Operating income (loss)	715,000,000	764,000,000	775,000,000	771,000,000	676,000,000	727,000,000	730,000,000	645,000,000	3,025,000,000	2,778,000,000	2,423,000,000
Depreciation and amortization	73,000,000	70,000,000	73,000,000	74,000,000	79,000,000	73,000,000	78,000,000	76,000,000	290,000,000	306,000,000	313,000,000
Restructuring charges									(20,000,000)	(19,000,000)	(42,000,000)
Impairment charges									0	(11,000,000)	0
Stock-based compensation									222,000,000	147,000,000	134,000,000
Capital expenditures									212,000,000	200,000,000	199,000,000
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									7,525,000,000	7,191,000,000	7,145,000,000
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									262,000,000	240,000,000	238,000,000
United States [Member]
Reportable Segments [Line Items]
Revenues									12,178,000,000	11,275,000,000	11,024,000,000
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									1,827,000,000	1,545,000,000	1,357,000,000
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
Corporate [Member]
Reportable Segments [Line Items]
Segment OIBDA	(109,000,000)	(82,000,000)	(64,000,000)	(77,000,000)	(95,000,000)	(63,000,000)	(65,000,000)	(69,000,000)	(332,000,000)	(292,000,000)	(301,000,000)
Operating income (loss)	(117,000,000)	(87,000,000)	(72,000,000)	(82,000,000)	(102,000,000)	(68,000,000)	(71,000,000)	(75,000,000)	(358,000,000)	(316,000,000)	(325,000,000)
Depreciation and amortization									25,000,000	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	661,000,000				1,053,000,000				661,000,000	1,053,000,000
Corporate And Eliminations [Member]
Reportable Segments [Line Items]
Revenues	(64,000,000)	(43,000,000)	(44,000,000)	(63,000,000)	(66,000,000)	(44,000,000)	(45,000,000)	(55,000,000)	(214,000,000)	(210,000,000)	(173,000,000)
Intersegment Eliminations [Member]
Reportable Segments [Line Items]
Revenues									(225,000,000)	(222,000,000)	(181,000,000)
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)
Discontinued Operations [Member]
Reportable Segments [Line Items]
Assets	3,475,000,000				3,993,000,000				3,475,000,000	3,993,000,000
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)	(42,000,000)
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	$ 368	$ 687
Receivables, less allowances of $60 (2013) and $62 (2012)	3,234	2,918
Programming and other inventory (Note 5)	772	858
Deferred income tax assets, net (Note 12)	152	239
Prepaid income taxes	0	28
Prepaid expenses	109	113
Other current assets	384	305
Current assets of discontinued operations (Note 3)	351	572
Total current assets	5,370	5,720
Property and equipment:
Land	243	242
Buildings	698	672
Capital leases	165	193
Equipment and other	1,991	1,968
Property and equipment, gross	3,097	3,075
Less accumulated depreciation and amortization	1,624	1,621
Net property and equipment	1,473	1,454
Programming and other inventory (Note 5)	1,697	1,582
Goodwill (Note 2)	6,696	6,690
Intangible assets (Note 2)	6,064	6,092
Other assets (Note 1)	1,963	1,507
Assets of discontinued operations (Note 3)	3,124	3,421
Total assets	26,387	26,466
Current Liabilities:
Accounts payable	286	307
Accrued expenses	595	562
Accrued compensation	376	359
Participants' share and royalties payable	1,008	953
Program rights	398	455
Deferred revenues	269	183
Income taxes payble	54	0
Commerical paper (Note 8)	475	0
Current portion of long-term debt (Note 8)	20	18
Other current liabilities	472	614
Current liabilities of discontinued operations (Note 3)	254	490
Total current liabilities	4,207	3,941
Long-term debt (Note 8)	5,940	5,903
Participants' share and royalties payable	1,122	965
Pension and postretirement benefit obligations (Note 13)	1,327	1,847
Deferred income tax liabilities, net (Note 12)	1,314	958
Other liabilities	2,034	2,107
Liabilities of discontinued operations (Note 3)	477	532
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

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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 $42 million, respectively. The charges reflected $21million 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 $56 million, of which $22 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
Corporate			—		1		—		1
	Total	$	41	$	19	$	(25)	$	35

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Discontinued Operations

12 Months Ended

Dec. 31, 2013

Discontinued Operations [Abstract]

Discontinued Operations

3) DISCONTINUED OPERATIONS

On April 2, 2014, Outdoor Americas completed anIPO through which it sold 23.0 million shares, or approximately 19%, of its common stock for $28.00 per share. Proceeds from the IPO aggregated $615 million, net of underwriting discounts and commissions. Upon completion of the IPO, the Company owned 97.0 million shares, or approximately 81%, of Outdoor Americas.

On July 16, 2014, the Company completed the disposition of its 81% ownership of Outdoor Americas common stock through a tax-free split-off. In connection with this transaction, the Company accepted 44.7 million shares of CBS Corp. Class B Common Stock from its stockholders in exchange for the 97.0 million shares of Outdoor Americas common stock that it owned. As a result, in the second quarter of 2014, Outdoor Americas was presented as a discontinued operation in the Company's consolidated financial statements. Accordingly, amounts reported for all prior periods within the Company's consolidated financial statements and accompanying notes herein have been recast to conform to this presentation.

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 financialstatements for all periods presented. Included in the loss from discontinued operations of $12 million for2013 is an after-tax charge of $110 million related to the sale of Outdoor Europe. This charge was associated with exiting an unprofitable contractual arrangementand the estimated fair value of guarantees, which historically have been intercompany but upon the closingof the transaction became third-party guarantees (See Note 14).

The following table sets forth details of the net earnings from discontinued operations for the years ended December 31, 2013, 2012 and 2011.

Year Ended December 31,		2013		2012		2011
Revenues from discontinued operations	$	1,695	$	1,873	$	1,885
Earnings (loss) from discontinued operations	$	(12)	$	128	$	125
Income tax provision		—		(62)		(83)
Earnings (loss) from discontinued operations, net of tax		(12)		66		42
Gain on disposal		159		—		—
Income tax provision		(6)		—		—
Gain on disposal, net of tax		153		—		—
Net earnings from discontinued operations, net of tax	$	141	$	66	$	42

The following table presents the major classes of assets and liabilities of the Company's discontinued operations at December 31, 2013 and 2012.

At December 31,		2013		2012
Current assets	$	351	$	572
Goodwill		1,866		1,926
Intangible assets		366		428
Net property and equipment		763		919
Other assets		129		148
Total Assets	$	3,475	$	3,993
Current liabilities	$	254	$	490
Other liabilities		477		532
Total Liabilities	$	731	$	1,022

Other liabilities of discontinued operations of $477 million and $532 million at December 31, 2013 and 2012, respectively, primarily include deferred tax liabilities related to Outdoor Americas and tax reserves related to previously disposed businesses. Also included in other liabilities of discontinued operations at December 31, 2013 is the estimated fair value of guarantee liabilities of approximately $40 million associated with the disposition of Outdoor Europe.

Outdoor Americas Indebtedness

In January 2014, prior to the IPO, 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 Outdoor Americas and certain of its subsidiaries.

The debt proceeds were primarily used by the Company to repurchase shares of CBS Corp. Class BCommon Stock through a $1.5 billion accelerated share repurchase transaction.

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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.

On July 16, 2014, the Company completed the disposition of Outdoor Americas through a tax-free split-off. As a result, Outdoor Americas has been presented as a discontinued operation in the Company's consolidated financial statements for all periods presented.

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
	Corporate/Eliminations			(214)		(210)		(173)
		Total Revenues	$	14,005	$	12,820	$	12,381

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
		Total Intercompany Revenues	$	225	$	222	$	181

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
	Corporate			(332)		(292)		(301)
Total Segment OIBDA				3,335		3,114		2,778
Restructuring charges				(20)		(19)		(42)
Impairment charges				—		(11)		—
Depreciation and amortization				(290)		(306)		(313)
Operating income				3,025		2,778		2,423
	Interest expense			(375)		(401)		(433)
	Interest income			8		5		5
	Net loss on early extinguishment of debt			—		(32)		—
	Other items, net			7		7		(12)
Earnings from continuing operations before income
		taxes and equity in loss of investee companies		2,665		2,357		1,983
Provision for income taxes				(878)		(812)		(681)
Equity in loss of investee companies, net of tax				(49)		(37)		(39)
Net earnings from continuing operations				1,738		1,508		1,263
Net earnings from discontinued operations,
		net of tax		141		66		42
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
	Corporate			(358)		(316)		(325)
		Total Operating Income	$	3,025	$	2,778	$	2,423

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
	Corporate			25		23		24
		Total Depreciation and Amortization	$	290	$	306	$	313

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
	Corporate			127		65		60
		Total Stock-based Compensation	$	222	$	147	$	134

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
	Corporate			27		21		14
		Total Capital Expenditures	$	212	$	200	$	199

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
	Corporate			661		1,053
	Discontinued operations			3,475		3,993
		Total Assets	$	26,387	$	26,466

Year Ended December 31,			2013		2012		2011
Revenues by Type:
	Advertising		$	7,525	$	7,191	$	7,145
	Content licensing and distribution			3,997		3,468		3,236
	Affiliate and subscription fees			2,221		1,921		1,762
	Other			262		240		238
		Total Revenues	$	14,005	$	12,820	$	12,381

Year Ended December 31,			2013		2012		2011
Revenues:(a)
	United States		$	12,178	$	11,275	$	11,024
	International			1,827		1,545		1,357
		Total Revenues	$	14,005	$	12,820	$	12,381

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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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 $167 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 $54 million, which is expected to be recognized over a weighted average period of 2.3 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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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	$ 62	$ 77	$ 88
Balance acquired through acquisitions	0	0	0
Charged to costs and expenses	14	14	15
Charged to other accounts	0	0	9
Deductions	16	29	35
Valuation allowance and qualifying accounts, ending balance	60	62	77
Valuation Allowance On Deferred Tax Assets [Member]
Movement in valuation allowances and reserves rollforward
Valuation allowances and qualifying accounts, beginning balance	240	227	240
Balance acquired through acquisitions	0	0	0
Charged to costs and expenses	450	37	16
Charged to other accounts	0	0	0
Deductions	56	24	29
Valuation allowance and qualifying accounts, ending balance	634	240	227
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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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). 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 $188 million and $107 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.

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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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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		38		25
	In process and other		32		60
Publishing, primarily finished goods			51		57
Total programming and other inventory			2,469		2,440
	Less current portion		772		858
Total noncurrent programming and other inventory		$	1,697	$	1,582

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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 $185million, $211 million and $244 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 $108 million, $157 million and $131 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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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)		14		14
Total debt from continuing operations			6,435		5,921
	Less commercial paper		475		—
	Less current portion		20		18
Total long-term debt from continuing operations, net of current portion		$	5,940	$	5,903

(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.

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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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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		38		25
	In process and other		32		60
Publishing, primarily finished goods			51		57
Total programming and other inventory			2,469		2,440
	Less current portion		772		858
Total noncurrent programming and other inventory		$	1,697	$	1,582

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Discontinued Operations (Details) (USD $)	12 Months Ended				0 Months Ended	6 Months Ended	3 Months Ended			1 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Sep. 30, 2013	Apr. 02, 2014 Subsequent Event [Member]	Jul. 16, 2014 Subsequent Event [Member]	Mar. 31, 2014 Subsequent Event [Member] Use Of Debt Proceeds [Member]	Jan. 31, 2014 Subsequent Event [Member] Discontinued Operations [Member]	Jan. 31, 2014 Subsequent Event [Member] Discontinued Operations [Member] Senior Notes [Member]	Jan. 31, 2014 Subsequent Event [Member] Discontinued Operations [Member] Term Loan Due 2021 [Member]	Jan. 31, 2014 Subsequent Event [Member] Discontinued Operations [Member] Senior Notes Due 2022 [Member] Senior Notes [Member]	Jan. 31, 2014 Subsequent Event [Member] Discontinued Operations [Member] Senior Notes Due 2024 [Member] Senior Notes [Member]
Discontinued Operations Details [Abstract]
Sale price of Outdoor Europe				$ 225,000,000
After tax charge associated with disposition of Outdoor Europe	110,000,000
Estimated fair value of guarantees	40,000,000
Revenues from discontinued operations	1,695,000,000	1,873,000,000	1,885,000,000
Earnings (loss) from discontinued operations, net of tax [Abstract]
Earnings (loss) from discontinued operations	(12,000,000)	128,000,000	125,000,000
Income tax benefit (provision), discontinued operations	0	(62,000,000)	(83,000,000)
Earnings (loss) from discontinued operations, net of tax	(12,000,000)	66,000,000	42,000,000
Gain on disposal, net ot tax
Gain on disposal	159,000,000	0	0
Income tax provision on disposal	(6,000,000)	0	0
Gain on disposal, net of tax	153,000,000	0	0
Net earnings (loss) from discontinued operations, net of tax	141,000,000	66,000,000	42,000,000
Subsequent Events [Line Items]
Number of shares of CBS Outdoor Americas Inc common stock offered in IPO					23,000,000
Percentage of CBS Outdoor Americas not owned by CBS and recorded as noncontrolling interest					19.00%
Per share IPO price of CBS Outdoor Americas					$ 28
Aggregate proceeds from IPO, net of underwriting discounts and commissions					615,000,000
Percentage of CBS Outdoor Americas owned by CBS					81.00%	0.00%
Shares of CBS Outdoor Americas common stock owned by CBS					97,000,000	0.0
Shares of CBS Class B Common Stock received in split-off transaction						44,700,000
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											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%
Stock repurchase program							1,500,000,000
Discontinued operations balance sheet disclosures [Abstract]
Current assets, discontinued operations	351,000,000	572,000,000
Goodwill, discontinued operations	1,866,000,000	1,926,000,000
Intangible assets, discontinued operations	366,000,000	428,000,000
Net property and equipment, discontinued operations	763,000,000	919,000,000
Other assets, discontinued operations	129,000,000	148,000,000
Total assets, discontinued operations	3,475,000,000	3,993,000,000
Current liabilities, discontinued operations	254,000,000	490,000,000
Noncurrent liabilities, discontinued operations	477,000,000	532,000,000
Total liabilities, discontinued operations	$ 731,000,000	$ 1,022,000,000

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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	$	5,511	$	5,145	$	676	$	697
Service cost		38		34		—		—
Interest cost		211		240		26		33
Actuarial (gain) loss		(311)		496		(51)		1
Benefits paid		(415)		(411)		(79)		(78)
Participants' contributions		—		—		10		11
Retiree Medicare drug subsidy		—		—		7		12
Cumulative translation adjustments		(12)		7		—		—
Benefit obligation, end of year	$	5,022	$	5,511	$	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	$	4,234	$	3,914	$	5	$	5
Actual return on plan assets		178		474		—		—
Employer contributions		199		250		62		55
Benefits paid		(415)		(411)		(79)		(78)
Participants' contributions		—		—		10		11
Retiree Medicare drug subsidy		—		—		7		12
Cumulative translation adjustments		(12)		7		—		—
Fair value of plan assets, end of year	$	4,184	$	4,234	$	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		$	(838)	$	(1,277)	$	(584)	$	(671)
Amounts recognized on the Consolidated
	Balance Sheets:
	Other assets	$	17	$	17	$	—	$	—
	Current liabilities		(50)		(51)		(62)		(67)
	Noncurrent liabilities		(805)		(1,243)		(522)		(604)
Net amounts recognized		$	(838)	$	(1,277)	$	(584)	$	(671)

The Company's qualified pension plans were underfunded by $203 million and $582million 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		$	(1,533)	$	(1,834)	$	248	$	213
Net prior service (cost) credit			(11)		(14)		1		2
Share of equity investee			—		(1)		—		—
			(1,544)		(1,849)		249		215
Deferred income taxes			612		731		(46)		(33)
Net amount recognized in accumulated other
	comprehensive income (loss)	$	(932)	$	(1,118)	$	203	$	182

The accumulated benefit obligation for all defined benefit pension plans was $4.95 billion and $5.43 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	$	4,890	$	5,354
Accumulated benefit obligation	$	4,814	$	5,273
Fair value of plan assets	$	4,036	$	4,060

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	$	38	$	34	$	33	$	—	$	—	$	—
	Interest cost		211		240		247		26		33		38
	Expected return on plan assets		(271)		(247)		(237)		—		—		—
	Amortization of actuarial losses (gains)		85		70		65		(16)		(16)		(10)
	Amortization of prior service cost (credit)		1		1		1		(1)		(1)		(1)
	Net periodic cost	$	64	$	98	$	109	$	9	$	16	$	27

		Pension		Postretirement
Year Ended December 31, 2013		Benefits		Benefits
Other comprehensive income (loss):
	Actuarial gains	$	218	$	51
	Amortization of actuarial losses (gains) (a)		85		(16)
	Amortization of prior service cost (credit) (a)		1		(1)
	Share of equity investee		1		—
			305		34
Deferred income taxes			(119)		(13)
	Recognized in other comprehensive income, net of tax	$	186	$	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 $1million, 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	4.8	%	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 95% 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 5% of total plan assets at December 31, 2013 and are invested approximately 66% in fixed income instruments,25% 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	$	55	$	—	$	63
Fixed income securities:
	U.S. treasury securities		133		—		—		133
	Government related securities		44		234		—		278
	Corporate bonds (b)		—		2,373		—		2,373
	Mortgage-backed and asset-backed securities		—		128		4		132
Equity securities: (c)
	U.S. large capitalization		345		355		—		700
	U.S. small capitalization		98		3		—		101
	International equity (d)		—		291		—		291
Limited partnerships			—		—		55		55
Other			—		58		—		58
Total assets		$	628	$	3,497	$	59	$	4,184

At December 31, 2012			Level 1		Level 2		Level 3		Total
Cash and cash equivalents (a)		$	25	$	144	$	—	$	169
Fixed income securities:
	U.S. treasury securities		102		—		—		102
	Government related securities		56		353		—		409
	Corporate bonds (b)		—		2,360		—		2,360
	Mortgage-backed and asset-backed securities		—		176		4		180
Equity securities: (c)
	U.S. large capitalization		264		330		—		594
	U.S. small capitalization		69		6		—		75
	International equity (d)		5		281		—		286
Limited partnerships			—		—		52		52
Other			—		7		—		7
Total assets		$	521	$	3,657	$	56	$	4,234

• 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	$	407	$	399	$	387	$	380	$	371	$	1,714
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							8		6		5
			Total contributions			$	42	$	38	$	36

• 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, $18million and $19million 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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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) (b)	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
	Corporate/Eliminations			(63)		(44)		(43)		(64)		(214)
		Total Revenues	$	3,763	$	3,369	$	3,302	$	3,571	$	14,005
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
	Corporate			(77)		(64)		(82)		(109)		(332)
Total Segment OIBDA				845		848		834		808		3,335
Restructuring charges				—		—		—		(20)		(20)
Depreciation and amortization				(74)		(73)		(70)		(73)		(290)
		Total Operating Income	$	771	$	775	$	764	$	715	$	3,025
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
	Corporate			(82)		(72)		(87)		(117)		(358)
		Total Operating Income	$	771	$	775	$	764	$	715	$	3,025
Net earnings from continuing operations			$	450	$	435	$	431	$	422	$	1,738
Net earnings			$	443	$	472	$	494	$	470	$	1,879
Basic net earnings per common share:
	Net earnings from continuing operations		$	.72	$	.71	$	.71	$	.70	$	2.86
	Net earnings		$	.71	$	.78	$	.82	$	.78	$	3.09
Diluted net earnings per common share:
	Net earnings from continuing operations		$	.71	$	.70	$	.70	$	.69	$	2.79
	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

• On July 16, 2014, the Company completed the split-off ofOutdoor Americasand as a result, Outdoor Americas has been presented as a discontinued operation in the consolidated financial statements for all periods presented.
• 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) (b)	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
	Corporate/Eliminations			(55)		(45)		(44)		(66)		(210)
		Total Revenues	$	3,513	$	3,001	$	2,943	$	3,363	$	12,820
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
	Corporate			(69)		(65)		(63)		(95)		(292)
Total Segment OIBDA				732		808		800		774		3,114
Restructuring charges				—		—		—		(19)		(19)
Impairment charges				(11)		—		—		—		(11)
Depreciation and amortization				(76)		(78)		(73)		(79)		(306)
		Total Operating Income	$	645	$	730	$	727	$	676	$	2,778
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
	Corporate			(75)		(71)		(68)		(102)		(316)
		Total Operating Income	$	645	$	730	$	727	$	676	$	2,778
Net earnings from continuing operations			$	369	$	402	$	362	$	375	$	1,508
Net earnings			$	363	$	427	$	391	$	393	$	1,574
Basic net earnings per common share:
	Net earnings from continuing operations		$	.57	$	.62	$	.57	$	.59	$	2.35
	Net earnings		$	.56	$	.66	$	.61	$	.62	$	2.45
Diluted net earnings per common share:
	Net earnings from continuing operations		$	.55	$	.61	$	.55	$	.58	$	2.29
	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

• On July 16, 2014, the Company completed the split-off of Outdoor Americas and as a result, Outdoor Americas has been presented as a discontinued operation in the consolidated financial statements for all periods presented.
• 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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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	5
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 (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	$	5,511	$	5,145	$	676	$	697
Service cost		38		34		—		—
Interest cost		211		240		26		33
Actuarial (gain) loss		(311)		496		(51)		1
Benefits paid		(415)		(411)		(79)		(78)
Participants' contributions		—		—		10		11
Retiree Medicare drug subsidy		—		—		7		12
Cumulative translation adjustments		(12)		7		—		—
Benefit obligation, end of year	$	5,022	$	5,511	$	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	$	4,234	$	3,914	$	5	$	5
Actual return on plan assets		178		474		—		—
Employer contributions		199		250		62		55
Benefits paid		(415)		(411)		(79)		(78)
Participants' contributions		—		—		10		11
Retiree Medicare drug subsidy		—		—		7		12
Cumulative translation adjustments		(12)		7		—		—
Fair value of plan assets, end of year	$	4,184	$	4,234	$	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		$	(838)	$	(1,277)	$	(584)	$	(671)
Amounts recognized on the Consolidated
	Balance Sheets:
	Other assets	$	17	$	17	$	—	$	—
	Current liabilities		(50)		(51)		(62)		(67)
	Noncurrent liabilities		(805)		(1,243)		(522)		(604)
Net amounts recognized		$	(838)	$	(1,277)	$	(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		$	(1,533)	$	(1,834)	$	248	$	213
Net prior service (cost) credit			(11)		(14)		1		2
Share of equity investee			—		(1)		—		—
			(1,544)		(1,849)		249		215
Deferred income taxes			612		731		(46)		(33)
Net amount recognized in accumulated other
	comprehensive income (loss)	$	(932)	$	(1,118)	$	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	$	4,890	$	5,354
Accumulated benefit obligation	$	4,814	$	5,273
Fair value of plan assets	$	4,036	$	4,060

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	$	38	$	34	$	33	$	—	$	—	$	—
	Interest cost		211		240		247		26		33		38
	Expected return on plan assets		(271)		(247)		(237)		—		—		—
	Amortization of actuarial losses (gains)		85		70		65		(16)		(16)		(10)
	Amortization of prior service cost (credit)		1		1		1		(1)		(1)		(1)
	Net periodic cost	$	64	$	98	$	109	$	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	$	218	$	51
	Amortization of actuarial losses (gains) (a)		85		(16)
	Amortization of prior service cost (credit) (a)		1		(1)
	Share of equity investee		1		—
			305		34
Deferred income taxes			(119)		(13)
	Recognized in other comprehensive income, net of tax	$	186	$	21

• Reflects amounts reclassified from accumulated other comprehensive income (loss) to net earnings.

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	4.8	%	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	$	55	$	—	$	63
Fixed income securities:
	U.S. treasury securities		133		—		—		133
	Government related securities		44		234		—		278
	Corporate bonds (b)		—		2,373		—		2,373
	Mortgage-backed and asset-backed securities		—		128		4		132
Equity securities: (c)
	U.S. large capitalization		345		355		—		700
	U.S. small capitalization		98		3		—		101
	International equity (d)		—		291		—		291
Limited partnerships			—		—		55		55
Other			—		58		—		58
Total assets		$	628	$	3,497	$	59	$	4,184

At December 31, 2012			Level 1		Level 2		Level 3		Total
Cash and cash equivalents (a)		$	25	$	144	$	—	$	169
Fixed income securities:
	U.S. treasury securities		102		—		—		102
	Government related securities		56		353		—		409
	Corporate bonds (b)		—		2,360		—		2,360
	Mortgage-backed and asset-backed securities		—		176		4		180
Equity securities: (c)
	U.S. large capitalization		264		330		—		594
	U.S. small capitalization		69		6		—		75
	International equity (d)		5		281		—		286
Limited partnerships			—		—		52		52
Other			—		7		—		7
Total assets		$	521	$	3,657	$	56	$	4,234

• 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	$	407	$	399	$	387	$	380	$	371	$	1,714
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							8		6		5
			Total contributions			$	42	$	38	$	36

• 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

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	$ 60	$ 62
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

XML

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 assessmentsforfive 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
Total:
Goodwill		33,556			7		—		(1)		33,562
Accumulated impairment losses		(26,866)			—		—		—		(26,866)
Goodwill, net of impairment	$	6,690		$	7	$	—	$	(1)	$	6,696

• Primarily includes foreign currency translation adjustments.

	Balance at									Balance at
	December 31, 2011		Acquisitions			Dispositions		Impairment		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
Total:
Goodwill		33,809			10		(263)		—		33,556
Accumulated impairment losses		(27,110)			—		255		(11)		(26,866)
Goodwill, net of impairment	$	6,699		$	10	$	(8)	$	(11)	$	6,690

The Company's intangible assets were as follows:

				Accumulated
At December 31, 2013			Gross	Amortization			Net
Intangible assets subject to amortization:
Trade names		$	222	$	(42)	$	180
Other intangible assets			211		(159)		52
	Total intangible assets subject to amortization		433		(201)		232
FCC licenses			5,832		—		5,832
	Total intangible assets	$	6,265	$	(201)	$	6,064
				Accumulated
At December 31, 2012			Gross	Amortization			Net
Intangible assets subject to amortization:
Trade names		$	213	$	(28)	$	185
Other intangible assets			229		(154)		75
	Total intangible assets subject to amortization		442		(182)		260
FCC licenses			5,832		—		5,832
	Total intangible assets	$	6,274	$	(182)	$	6,092

Amortization expense was $39 million (2013), $45 million (2012) and $50 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	$	31	$	23	$	18	$	14	$	13

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

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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	$ 3,571,000,000	$ 3,302,000,000	$ 3,369,000,000	$ 3,763,000,000	$ 3,363,000,000	$ 2,943,000,000	$ 3,001,000,000	$ 3,513,000,000	$ 14,005,000,000	$ 12,820,000,000	$ 12,381,000,000
Segment OIBDA	808,000,000	834,000,000	848,000,000	845,000,000	774,000,000	800,000,000	808,000,000	732,000,000	3,335,000,000	3,114,000,000	2,778,000,000
Operating income (loss)	715,000,000	764,000,000	775,000,000	771,000,000	676,000,000	727,000,000	730,000,000	645,000,000	3,025,000,000	2,778,000,000	2,423,000,000
Restructuring charges									(20,000,000)	(19,000,000)	(42,000,000)
Impairment charges									0	(11,000,000)	0
Depreciation and amortization	(73,000,000)	(70,000,000)	(73,000,000)	(74,000,000)	(79,000,000)	(73,000,000)	(78,000,000)	(76,000,000)	(290,000,000)	(306,000,000)	(313,000,000)
Net earnings (loss) from continuing operations	422,000,000	431,000,000	435,000,000	450,000,000	375,000,000	362,000,000	402,000,000	369,000,000	1,738,000,000	1,508,000,000	1,263,000,000
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)	$ 0.70	$ 0.71	$ 0.71	$ 0.72	$ 0.59	$ 0.57	$ 0.62	$ 0.57	$ 2.86	$ 2.35	$ 1.90
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)	$ 0.69	$ 0.70	$ 0.70	$ 0.71	$ 0.58	$ 0.55	$ 0.61	$ 0.55	$ 2.79	$ 2.29	$ 1.85
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)
Corporate [Member]
Quarterly Financial Data [Line Items]
Segment OIBDA	(109,000,000)	(82,000,000)	(64,000,000)	(77,000,000)	(95,000,000)	(63,000,000)	(65,000,000)	(69,000,000)	(332,000,000)	(292,000,000)	(301,000,000)
Operating income (loss)	(117,000,000)	(87,000,000)	(72,000,000)	(82,000,000)	(102,000,000)	(68,000,000)	(71,000,000)	(75,000,000)	(358,000,000)	(316,000,000)	(325,000,000)
Restructuring charges									(1,000,000)	(1,000,000)
Depreciation and amortization									(25,000,000)	(23,000,000)	(24,000,000)
Corporate And Eliminations [Member]
Quarterly Financial Data [Line Items]
Revenues	(64,000,000)	(43,000,000)	(44,000,000)	(63,000,000)	(66,000,000)	(44,000,000)	(45,000,000)	(55,000,000)	(214,000,000)	(210,000,000)	(173,000,000)
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)	(42,000,000)
Impairment charges					0	0	0	(11,000,000)	0	(11,000,000)	0
Intersegment Eliminations [Member]
Quarterly Financial Data [Line Items]
Revenues									(225,000,000)	(222,000,000)	(181,000,000)
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)

XML

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	Dec. 31, 2011
Pension and Other Postretirement Benefits Details [Abstract]
Service period over which benefits vest	5Y
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	$ 5,511	$ 5,145
Service cost	38	34	33
Interest cost	211	240	247
Actuarial loss (gain)	(311)	496
Benefits paid	(415)	(411)
Participants' contributions	0	0
Retiree Medicare drug subsidy	0	0
Cumulative translation adjustments	(12)	7
Benefit obligation, end of year	5,022	5,511	5,145
Postretirement Benefits [Member]
Defined Change in Benefit Obligation [Roll Forward]
Benefit obligation, beginning of year	676	697
Service cost	0	0	0
Interest cost	26	33	38
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	$ 697

XML

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	$	13,849	$	—	$	14,005
Expenses:
	Operating			69		8		8,047		—		8,124
	Selling, general and administrative			65		323		2,158		—		2,546
	Restructuring charges			—		1		19		—		20
	Depreciation and amortization			6		14		270		—		290
		Total expenses		140		346		10,494		—		10,980
Operating income (loss)				5		(335)		3,355		—		3,025
Interest (expense) income, net				(457)		(369)		459		—		(367)
Other items, net				—		4		3		—		7
Earnings (loss) from continuing operations
	before income taxes and equity in earnings
	(loss) of investee companies			(452)		(700)		3,817		—		2,665
(Provision) benefit for income taxes				152		235		(1,265)		—		(878)
Equity in earnings (loss) of investee companies,
	net of tax			2,170		1,288		(49)		(3,458)		(49)
Net earnings from continuing operations				1,870		823		2,503		(3,458)		1,738
Net earnings (loss) from discontinued operations,
	net of tax			9		(5)		137		—		141
Net earnings			$	1,879	$	818	$	2,640	$	(3,458)	$	1,879
Total comprehensive income			$	1,903	$	815	$	2,463	$	(3,278)	$	1,903

			Statement of Operations
			For the Year Ended December 31, 2012
			CBS Corp.		CBS Operations Inc.		Non-Guarantor Affiliates		Eliminations		CBS Corp. Consolidated
Revenues			$	157	$	15	$	12,648	$	—	$	12,820
Expenses:
	Operating			74		8		7,182		—		7,264
	Selling, general and administrative			87		251		2,104		—		2,442
	Restructuring charges			—		2		17		—		19
	Impairment charges			—		—		11		—		11
	Depreciation and amortization			6		14		286		—		306
		Total expenses		167		275		9,600		—		10,042
Operating income (loss)				(10)		(260)		3,048		—		2,778
Interest (expense) income, net				(480)		(351)		435		—		(396)
Net loss on early extinguishment of debt				(32)		—		—		—		(32)
Other items, net				1		(5)		11		—		7
Earnings (loss) from continuing operations
	before income taxes and equity in earnings
	(loss) of investee companies			(521)		(616)		3,494		—		2,357
(Provision) benefit for income taxes				183		215		(1,210)		—		(812)
Equity in earnings (loss) of investee companies,
	net of tax			1,886		1,145		(37)		(3,031)		(37)
Net earnings from continuing operations				1,548		744		2,247		(3,031)		1,508
Net earnings (loss) from discontinued operations,
	net of tax			26		(3)		43		—		66
Net earnings			$	1,574	$	741	$	2,290	$	(3,031)	$	1,574
Total comprehensive income			$	1,444	$	734	$	2,298	$	(3,032)	$	1,444

			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	$	12,231	$	—	$	12,381
Expenses:
	Operating			72		8		7,111		—		7,191
	Selling, general and administrative			109		246		2,057		—		2,412
	Restructuring charges			—		—		42		—		42
	Depreciation and amortization			5		15		293		—		313
		Total expenses		186		269		9,503		—		9,958
Operating income (loss)				(55)		(250)		2,728		—		2,423
Interest (expense) income, net				(514)		(341)		427		—		(428)
Other items, net				—		6		(18)		—		(12)
Earnings (loss) from continuing operations
	before income taxes and equity in earnings
	(loss) of investee companies			(569)		(585)		3,137		—		1,983
(Provision) benefit for income taxes				200		205		(1,086)		—		(681)
Equity in earnings (loss) of investee companies,
	net of tax			1,667		1,256		(39)		(2,923)		(39)
Net earnings from continuing operations				1,298		876		2,012		(2,923)		1,263
Net earnings from discontinued operations,
	net of tax			7		7		28		—		42
Net earnings			$	1,305	$	883	$	2,040	$	(2,923)	$	1,305
Total comprehensive income			$	1,152	$	883	$	2,023	$	(2,906)	$	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	$	287	$	—	$	368
Receivables, net			30		2		3,202		—		3,234
Programming and other inventory			4		2		766		—		772
Prepaid expenses and other current assets			179		18		474		(26)		645
Current assets of discontinued operations			—		—		351		—		351
	Total current assets		293		23		5,080		(26)		5,370
Property and equipment			37		137		2,923		—		3,097
	Less accumulated depreciation and amortization		9		83		1,532		—		1,624
	Net property and equipment		28		54		1,391		—		1,473
Programming and other inventory			5		—		1,692		—		1,697
Goodwill			98		62		6,536		—		6,696
Intangible assets			—		—		6,064		—		6,064
Investments in subsidiaries			40,454		10,415		—		(50,869)		—
Other assets			89		18		1,856		—		1,963
Intercompany			—		3,240		18,409		(21,649)		—
Assets of discontinued operations			—		—		3,124		—		3,124
Total Assets		$	40,967	$	13,812	$	44,152	$	(72,544)	$	26,387
Liabilities and Stockholders’ Equity
Accounts payable		$	1	$	8	$	277	$	—	$	286
Participants’ share and royalties payable			—		—		1,008		—		1,008
Program rights			5		2		391		—		398
Commercial paper			475		—		—		—		475
Current portion of long-term debt			5		—		15		—		20
Accrued expenses and other current liabilities			361		293		1,138		(26)		1,766
Current liabilities of discontinued operations			—		—		254		—		254
	Total current liabilities		847		303		3,083		(26)		4,207
Long-term debt			5,791		—		149		—		5,940
Other liabilities			2,714		317		2,766		—		5,797
Liabilities of discontinued operations			—		—		477		—		477
Intercompany			21,649		—		—		(21,649)		—
Stockholders’ Equity:
	Preferred stock		—		—		126		(126)		—
	Common stock		1		123		953		(1,076)		1
	Additional paid-in capital		43,474		—		61,678		(61,678)		43,474
	Retained earnings (deficit)		(24,890)		13,410		(20,406)		6,996		(24,890)
	Accumulated other comprehensive income (loss)		(545)		(10)		126		(116)		(545)
			18,040		13,523		42,477		(56,000)		18,040
	Less treasury stock, at cost		8,074		331		4,800		(5,131)		8,074
	Total Stockholders’ Equity		9,966		13,192		37,677		(50,869)		9,966
Total Liabilities and Stockholders’ Equity		$	40,967	$	13,812	$	44,152	$	(72,544)	$	26,387

		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	$	432	$	—	$	687
Receivables, net			31		2		2,885		—		2,918
Programming and other inventory			5		3		850		—		858
Prepaid expenses and other current assets			146		14		551		(26)		685
Current assets of discontinued operations			—		—		572		—		572
	Total current assets		436		20		5,290		(26)		5,720
Property and equipment			39		117		2,919		—		3,075
	Less accumulated depreciation and amortization		8		69		1,544		—		1,621
	Net property and equipment		31		48		1,375		—		1,454
Programming and other inventory			3		2		1,577		—		1,582
Goodwill			98		62		6,530		—		6,690
Intangible assets			—		—		6,092		—		6,092
Investments in subsidiaries			38,660		9,128		—		(47,788)		—
Other assets			171		14		1,322		—		1,507
Intercompany			—		3,672		16,111		(19,783)		—
Assets of discontinued operations			—		—		3,421		—		3,421
Total Assets		$	39,399	$	12,946	$	41,718	$	(67,597)	$	26,466
Liabilities and Stockholders’ Equity
Accounts payable		$	2	$	6	$	299	$	—	$	307
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			347		284		1,113		(26)		1,718
Current liabilities of discontinued operations			—		—		490		—		490
	Total current liabilities		360		294		3,313		(26)		3,941
Long-term debt			5,793		—		110		—		5,903
Other liabilities			3,250		275		2,352		—		5,877
Liabilities of discontinued operations			—		—		532		—		532
Intercompany			19,783		—		—		(19,783)		—
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)		12,592		(23,046)		10,454		(26,769)
	Accumulated other comprehensive income (loss)		(569)		(7)		303		(296)		(569)
			16,087		12,708		40,211		(52,919)		16,087
	Less treasury stock, at cost		5,874		331		4,800		(5,131)		5,874
	Total Stockholders’ Equity		10,213		12,377		35,411		(47,788)		10,213
Total Liabilities and Stockholders’ Equity		$	39,399	$	12,946	$	41,718	$	(67,597)	$	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			—		—		(20)		—		(20)
	Capital expenditures			—		(27)		(185)		—		(212)
	Investments in and advances to investee companies			—		—		(176)		—		(176)
	Proceeds from sale of investments			23		1		6		—		30
	Proceeds from dispositions			—		—		164		—		164
Net cash flow provided by (used for) investing activities
		from continuing operations		23		(26)		(211)		—		(214)
Net cash flow used for investing activities
		from discontinued operations		—		—		(58)		—		(58)
Net cash flow provided by (used for) investing activities				23		(26)		(269)		—		(272)
Financing Activities:
	Proceeds from short-term debt borrowings, net			475		—		—		—		475
	Payment of capital lease obligations			—		—		(17)		—		(17)
	Payment of contingent consideration			—		—		(30)		—		(30)
	Dividends			(300)		—		—		—		(300)
	Purchase of Company common stock			(2,185)		—		—		—		(2,185)
	Payment of payroll taxes in lieu of issuing
		shares for stock-based compensation		(145)		—		—		—		(145)
	Proceeds from exercise of stock options			146		—		—		—		146
	Excess tax benefit from stock-based compensation			148		—		—		—		148
	Other financing activities			(4)		—		—		—		(4)
	Increase (decrease) in intercompany payables			2,602		213		(2,815)		—		—
Net cash flow provided by (used for) financing
	activities			737		213		(2,862)		—		(1,912)
	Net decrease in cash and cash equivalents			(174)		—		(137)		—		(311)
	Cash and cash equivalents at beginning of year
	(includes $21 of discontinued operations cash)			254		1		453		—		708
Cash and cash equivalents at end of year (includes
$29 of discontinued operations cash)			$	80	$	1	$	316	$	—	$	397

			Statement of Cash Flows
			For the Year Ended December 31, 2012
			CBS Corp.		CBS Operations Inc.		Non-Guarantor Affiliates		Eliminations		CBS Corp. Consolidated
Net cash flow (used for) provided by operating
	activities		$	(827)	$	(179)	$	2,821	$	—	$	1,815
Investing Activities:
	Acquisitions, net of cash acquired			—		—		(146)		—		(146)
	Capital expenditures			—		(21)		(179)		—		(200)
	Investments in and advances to investee companies			—		—		(91)		—		(91)
	Proceeds from sale of investments			9		2		2		—		13
	Proceeds from dispositions			—		—		49		—		49
Net cash flow provided by (used for) investing activities
		from continuing operations		9		(19)		(365)		—		(375)
Net cash flow used for investing activities
		from discontinued operations		—		—		(76)		—		(76)
Net cash flow provided by (used for) investing activities				9		(19)		(441)		—		(451)
Financing Activities:
	Proceeds from issuance of notes			1,566		—		—		—		1,566
	Repayment of notes and debentures			(1,583)		—		—		—		(1,583)
	Payment of capital lease obligations			—		—		(19)		—		(19)
	Payment of contingent consideration			—		—		(33)		—		(33)
	Dividends			(276)		—		—		—		(276)
	Purchase of Company common stock			(1,137)		—		—		—		(1,137)
	Payment of payroll taxes in lieu of issuing
		shares for stock-based compensation		(105)		—		—		—		(105)
	Proceeds from exercise of stock options			168		—		—		—		168
	Excess tax benefit from stock-based compensation			103		—		—		—		103
	Increase (decrease) in intercompany payables			2,202		198		(2,400)		—		—
Net cash flow provided by (used for) financing
	activities			938		198		(2,452)		—		(1,316)
	Net increase (decrease) in cash and cash equivalents			120		—		(72)		—		48
	Cash and cash equivalents at beginning of year
	(includes $38 of discontinued operations cash)			134		1		525		—		660
Cash and cash equivalents at end of year (includes
$21 of discontinued operations cash)			$	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			—		—		(67)		—		(67)
	Capital expenditures			—		(14)		(185)		—		(199)
	Investments in and advances to investee companies			—		—		(79)		—		(79)
	Proceeds from sale of investments			8		4		—		—		12
	Proceeds from dispositions			—		—		17		—		17
Net cash flow provided by (used for) investing activities
		from continuing operations		8		(10)		(314)		—		(316)
Net cash flow used for investing activities
		from discontinued operations		—		—		(73)		—		(73)
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
	(includes $19 of discontinued operations cash)			105		1		374		—		480
Cash and cash equivalents at end of year (includes
$38 of discontinued operations cash)			$	134	$	1	$	525	$	—	$	660

XML

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)

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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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		$	2,283	$	2,030	$	1,695
Foreign			382		327		288
	Total	$	2,665	$	2,357	$	1,983

The components of the provision for income taxes were as follows:

Year Ended December 31,			2013		2012		2011
Current:
	Federal	$	310	$	236	$	164
	State and local		74		61		43
	Foreign		61		62		52
			445		359		259
Deferred			433		453		422
	Provision for income taxes	$	878	$	812	$	681

In addition, included in discontinued operations was an income tax provisionof $6 million, $62 million, and $83 million in 2013, 2012 and 2011, respectively.

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 $31 million, $23 million, and $25 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	$	933	$	825	$	694
State and local taxes, net of federal tax benefit		101		84		73
Effect of foreign operations		(92)		(67)		(63)
Audit settlements, net		(17)		(3)		(10)
Other, net (a)		(47)		(27)		(13)
Provision for income taxes	$	878	$	812	$	681

(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	$	700	$	775
	Pension, postretirement and other employee benefits		422		629
	Tax credit and loss carryforwards		664		270
	Other		163		133
Total deferred income tax assets			1,949		1,807
	Valuation allowance		(634)		(240)
Deferred income tax assets, net			1,315		1,567
Deferred income tax liabilities:
	Intangible assets		(1,943)		(1,851)
	Property, equipment and other assets		(522)		(429)
Total deferred income tax liabilities			(2,465)		(2,280)
Deferred income tax liabilities, net		$	(1,150)	$	(713)

       In addition to the deferred income taxes reflected in the table above, the Company included net deferred income tax liabilities of $182million and $250million in the assets and liabilities 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 $1.19 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 $634million and $240 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 $4.08billion at December 31, 2013 and $3.71billion 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	$	211
Additions for current year tax positions		11
Additions for prior year tax positions		9
Reductions for prior year tax positions		(18)
Cash settlements		(23)
Statute of limitations lapses		(1)
At December 31, 2011		189
Additions for current year tax positions		12
Additions for prior year tax positions		10
Reductions for prior year tax positions		(32)
Cash settlements		(5)
Statute of limitations lapses		(2)
At December 31, 2012		172
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	$	139

At December 31, 2013 and 2012, $53million and $57million, 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 $139 million at December 31, 2013includes $112millionwhich 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 $56million 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.