10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2014

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from              to             

Commission File Number: 001-34177

Discovery Communications, Inc.

(Exact name of Registrant as specified in its charter)

Delaware	35-2333914
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)
One Discovery Place Silver Spring, Maryland	20910
(Address of principal executive offices)	(Zip Code)

(240) 662-2000

(Registrant’s telephone number, including area code)

Not Applicable

(Former name, former address and former fiscal year, if changed since last report.)

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

Indicate by check mark whether the Registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit and post such files).    Yes  ý    No  ¨

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

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

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

Total number of shares outstanding of each class of the Registrant’s common stock as of April 29, 2014:

Series A Common Stock, par value $0.01 per share	147,610,321
Series B Common Stock, par value $0.01 per share	6,543,969
Series C Common Stock, par value $0.01 per share	75,369,764

DISCOVERY COMMUNICATIONS, INC.

FORM 10-Q

TABLE OF CONTENTS

	Page
PART I. FINANCIAL INFORMATION.
ITEM 1. Unaudited Financial Statements.
Consolidated Balance Sheets as of March 31, 2014 and December 31, 2013.	4
Consolidated Statements of Operations for the Three Months Ended March 31, 2014 and 2013.	5
Consolidated Statements of Comprehensive Income for the Three Months Ended March 31, 2014 and 2013.	6
Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2014 and 2013.	7
Consolidated Statements of Equity for the Three Months Ended March 31, 2014 and 2013.	9
Notes to Consolidated Financial Statements.	10
ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.	40
ITEM 3. Quantitative and Qualitative Disclosures About Market Risk.	54
ITEM 4. Controls and Procedures.	54
PART II. OTHER INFORMATION.
ITEM 1. Legal Proceedings.	55
ITEM 1A. Risk Factors.	55
ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds.	55
ITEM 6. Exhibits.	56
SIGNATURES.	57

3

PART I. FINANCIAL INFORMATION

ITEM 1. Financial Statements.

DISCOVERY COMMUNICATIONS, INC.

CONSOLIDATED BALANCE SHEETS

(unaudited; in millions, except par value)

	March 31, 2014			December 31, 2013
ASSETS
Current assets:
Cash and cash equivalents	$	757		$	408
Receivables, net	1,341			1,371
Content rights, net	307			277
Deferred income taxes	76			73
Prepaid expenses and other current assets	259			281
Total current assets	2,740			2,410
Noncurrent content rights, net	1,902			1,883
Property and equipment, net	522			514
Goodwill	7,370			7,341
Intangible assets, net	1,516			1,565
Equity method investments	1,080			1,087
Other noncurrent assets	181			179
Total assets	$	15,311		$	14,979
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	151		$	141
Accrued liabilities	947			992
Deferred revenues	137			144
Current portion of debt	18			17
Total current liabilities	1,253			1,294
Noncurrent portion of debt	6,900			6,482
Deferred income taxes	614			637
Other noncurrent liabilities	326			333
Total liabilities	9,093			8,746
Commitments and contingencies (Note 15)
Redeemable noncontrolling interests	37			36
Equity:
Discovery Communications, Inc. stockholders’ equity:
Series A convertible preferred stock: $0.01 par value; 75 shares authorized; 71 shares issued	1			1
Series C convertible preferred stock: $0.01 par value; 75 shares authorized; 44 shares issued	1			1
Series A common stock: $0.01 par value; 1,700 shares authorized; 150 shares issued	1			1
Series B convertible common stock: $0.01 par value; 100 shares authorized; 7 shares issued	—			—
Series C common stock: $0.01 par value; 2,000 shares authorized; 151 shares issued	2			2
Additional paid-in capital	6,845			6,826
Treasury stock, at cost	(3,797		)	(3,531		)
Retained earnings	3,123			2,892
Accumulated other comprehensive income	4			4
Total Discovery Communications, Inc. stockholders’ equity	6,180			6,196
Noncontrolling interests	1			1
Total equity	6,181			6,197
Total liabilities and equity	$	15,311		$	14,979

The accompanying notes are an integral part of these consolidated financial statements.

4

DISCOVERY COMMUNICATIONS, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited; in millions, except per share amounts)

	Three Months Ended March 31,
	2014			2013
Revenues:
Distribution	$	657		$	583
Advertising	689			508
Other	65			65
Total revenues	1,411			1,156
Costs and expenses:
Costs of revenues, excluding depreciation and amortization	482			342
Selling, general and administrative	409			365
Depreciation and amortization	83			32
Restructuring charges	3			1
Total costs and expenses	977			740
Operating income	434			416
Interest expense	(81		)	(68		)
Income (loss) from equity investees, net	13			(2		)
Other (expense) income, net	(17		)	31
Income from continuing operations before income taxes	349			377
Provision for income taxes	(118		)	(146		)
Net income	231			231
Net income attributable to redeemable noncontrolling interests	(1		)	—
Net income available to Discovery Communications, Inc.	$	230		$	231
Net income per share available to Discovery Communications, Inc. stockholders:
Basic	$	0.66		$	0.64
Diluted	$	0.66		$	0.63
Weighted average shares outstanding:
Basic	348			363
Diluted	352			367

The accompanying notes are an integral part of these consolidated financial statements.

5

DISCOVERY COMMUNICATIONS, INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(unaudited; in millions)

	Three Months Ended March 31,
	2014			2013
Net income	$	231		$	231
Other comprehensive income (loss), net of tax:
Currency translation adjustments	1			(59		)
Derivative and market value adjustments	(1		)	4
Comprehensive income	231			176
Comprehensive income attributable to redeemable noncontrolling interests	(1		)	—
Comprehensive income attributable to Discovery Communications, Inc.	$	230		$	176

The accompanying notes are an integral part of these consolidated financial statements.

6

DISCOVERY COMMUNICATIONS, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited; in millions)

	Three Months Ended March 31,
	2014			2013
Operating Activities
Net income	$	231		$	231
Adjustments to reconcile net income to cash provided by operating activities:
Equity-based compensation expense	19			60
Depreciation and amortization	83			32
Content amortization and impairment expense	350			231
Remeasurement gain on previously held equity interest	—			(92		)
Equity in (earnings) losses and distributions from investments, net	(11		)	4
Deferred income tax (benefit) expense	(35		)	134
Launch amortization expense	2			5
Loss from hedging instruments, net	—			39
Other, net	11			25
Changes in operating assets and liabilities:
Receivables, net	31			(20		)
Content rights	(391		)	(301		)
Accounts payable and accrued liabilities	6			(70		)
Equity-based compensation liabilities	(81		)	(59		)
Income tax receivable	53			(62		)
Other, net	(27		)	(26		)
Cash provided by operating activities	241			131
Investing Activities
Purchases of property and equipment	(28		)	(26		)
Business acquisitions, net of cash acquired	(17		)	(60		)
Hedging instruments, net	—			(39		)
Distributions from equity method investees	16			—
Returns from (investments in) equity method investees, net	1			(25		)
Cash used in investing activities	(28		)	(150		)
Financing Activities
Borrowings from debt, net of discount and issuance costs	412			1,186
Principal repayments of capital lease obligations	(4		)	(11		)
Repurchases of common stock	(266		)	—
Cash proceeds from equity-based plans, net	—			7
Other financing activities, net	(2		)	—
Cash provided by financing activities	140			1,182
Effect of exchange rate changes on cash and cash equivalents	(4		)	(4		)
Net change in cash and cash equivalents	349			1,159
Cash and cash equivalents, beginning of period	408			1,201
Cash and cash equivalents, end of period	$	757		$	2,360

7

DISCOVERY COMMUNICATIONS, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited; in millions)

	Three Months Ended March 31,
	2014			2013
Supplemental Cash Flow Information
Cash paid for taxes, net	$	(41	)	$	(63	)
Cash paid for interest, net	$	(20	)	$	(29	)
Noncash Investing and Financing Transactions
Repurchases of preferred stock	$	—		$	256
Assets acquired under capital lease arrangements	$	14		$	—
Accrued purchases of property and equipment	$	7		$	3

The accompanying notes are an integral part of these consolidated financial statements.

8

DISCOVERY COMMUNICATIONS, INC.

CONSOLIDATED STATEMENTS OF EQUITY

(unaudited; in millions)

	Three Months Ended March 31, 2014								Three Months Ended March 31, 2013
	Discovery Stockholders			Noncontrolling Interests		Total Equity			Discovery Stockholders			Noncontrolling Interests		Total Equity
Beginning balance	$	6,196		$	1	$	6,197		$	6,291		$	2	$	6,293
Comprehensive income	230			—		230			176			—		176
Equity-based compensation	20			—		20			20			—		20
Issuance of common stock for equity-based plans	10			—		10			16			—		16
Excess tax benefits from equity-based compensation	16			—		16			13			—		13
Tax settlements associated with equity-based compensation	(26		)	—		(26		)	(22		)	—		(22		)
Other adjustments for equity-based plans	(1		)	—		(1		)	—			—		—
Repurchases of common stock	(266		)	—		(266		)	—			—		—
Repurchases of preferred stock	—			—		—			(256		)	—		(256		)
Redeemable noncontrolling interest adjustments to redemption value	1			—		1			2			—		2
Ending balance	$	6,180		$	1	$	6,181		$	6,240		$	2	$	6,242

The accompanying notes are an integral part of these consolidated financial statements.

9

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

NOTE 1. DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION

Description of Business

Discovery Communications, Inc. (“Discovery” or the “Company”) is a global media company that provides content across multiple distribution platforms throughout the world, and through digital distribution arrangements. The Company also has a diversified portfolio of web-native networks and other digital media services and develops and sells curriculum-based education products and services. The Company classifies its operations in three segments: U.S. Networks, consisting principally of domestic television networks and websites; International Networks, consisting principally of international television networks, radio stations and websites; and Education, consisting of educational curriculum-based product and service offerings. Financial information for Discovery’s reportable segments is discussed in Note 16.

Basis of Presentation

The consolidated financial statements include the accounts of Discovery and its majority-owned subsidiaries in which a controlling interest is maintained. Inter-company accounts and transactions between consolidated entities have been eliminated in consolidation.

Reclassifications

Transactions denominated in currencies other than subsidiaries' functional currencies are recorded based on exchange rates at the time such transactions arise. Changes in exchange rates with respect to amounts recorded in the consolidated balance sheets related to these items will result in unrealized foreign currency transaction gains and losses based upon period-end exchange rates. The Company also records realized foreign currency transaction gains and losses upon settlement of the transactions. Beginning January 1, 2014, the Company reclassified foreign currency losses, net as described above from selling, general and administrative expense to other (expense) income, net on the consolidated statements of operations for all periods presented. For the three months ended March 31, 2013, foreign currency losses of $2 million were reclassified from selling, general and administrative expense to other (expense) income, net to conform to the current year presentation.

Unaudited Interim Financial Statements

These consolidated financial statements are unaudited; however, in the opinion of management, they reflect all adjustments consisting only of normal recurring adjustments necessary to state fairly the financial position, results of operations and cash flows for the periods presented in conformity with U.S. generally accepted accounting principles (“GAAP”) applicable to interim periods. The results of operations for the interim periods presented are not necessarily indicative of results for the full year or future periods. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in Discovery’s Annual Report on Form 10-K for the year ended December 31, 2013 (the “2013 Form 10-K”).

Use of Estimates

The preparation of financial statements in accordance with GAAP requires management to make estimates, judgments and assumptions that affect the amounts and disclosures reported in the consolidated financial statements and accompanying notes. Management continually re-evaluates its estimates, judgments and assumptions, and management’s assessments could change. Actual results may differ materially from those estimates.

Estimates inherent in the preparation of the consolidated financial statements include accounting for asset impairments, revenue recognition, allowances for doubtful accounts, content rights, depreciation and amortization, business combinations, equity-based compensation, income taxes, other financial instruments, contingencies, and the determination of whether the Company is the primary beneficiary of entities in which it holds variable interests.

Accounting and Reporting Pronouncements Adopted

Presentation of Unrecognized Tax Benefits

In July 2013, the Financial Accounting Standards Board ("FASB") issued guidance stating that a liability related to an unrecognized tax benefit should be presented as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carry forward to the extent such deferred tax asset is available at the reporting date to settle any additional income taxes that would result from the disallowance of a tax position. The Company prospectively adopted the new

10

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

guidance effective January 1, 2014 and reclassified $11 million in liabilities related to unrecognized tax benefits from other noncurrent liabilities to noncurrent deferred income tax liabilities on the consolidated balance sheet as of March 31, 2014.

Accounting and Reporting Pronouncements Not Yet Adopted

Reporting Discontinued Operations

In April 2014, the FASB issued guidance that changes the criteria for reporting a discontinued operation. Under the new pronouncement, disposal of a component of an entity representing a strategic shift with major effect on its operations and financial results is a discontinued operation. The Company is required to adopt the guidance prospectively for all disposals or components of its business classified as held for sale during fiscal periods beginning after December 15, 2014 and is currently evaluating what impact, if any, the adoption will have to the presentation of its consolidated financial statements.

Concentrations Risk

Customers

The Company has long-term contracts with distributors around the world, including the largest distributors in the U.S. and major international distributors. In the U.S., approximately 90% of distribution revenues come from the top 10 distributors. Outside of the U.S., approximately 50% of distribution revenue comes from the top 10 distributors. Agreements in place with the major cable and satellite operators in the U.S. expire at various times beginning in 2014 through 2020. Failure to secure a renewal or a renewal on less favorable terms may have a material adverse effect on the Company’s financial condition and results of operations. Not only could the Company experience a reduction in affiliate revenue, but it could also experience a reduction in advertising revenue which is impacted by affiliate subscriber levels and viewership.

No individual customer accounted for more than 10% of total consolidated revenues for the three months ended March 31, 2014 or 2013. As of March 31, 2014 and December 31, 2013, the Company’s trade receivables do not represent a significant concentration of credit risk as the customers and markets in which the Company operates are varied and dispersed across many geographic areas.

Financial Institutions

Cash and cash equivalents are maintained with several financial institutions. The Company has deposits held with banks that exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions of reputable credit and, therefore, bear minimal credit risk.

Lender Counterparties

There is a risk that the counterparties associated with the Company’s revolving credit facility will not be available to fund as obligated under the terms of the facility. If funding under the revolving credit facility is unavailable, the Company may have to acquire a replacement credit facility from different counterparties at a higher cost or may be unable to find a suitable replacement. Typically, the Company seeks to manage these exposures by contracting with experienced large financial institutions and monitoring the credit quality of its lenders. As of March 31, 2014, the Company did not anticipate nonperformance by any of its counterparties.

NOTE 2. ACQUISITIONS AND DISPOSITIONS

Acquisitions

Eurosport

On January 21, 2014, the Company entered into an agreement with TF1 to acquire a controlling interest in Eurosport International ("Eurosport"), a leading pan-European sports media platform, by increasing Discovery’s ownership stake from 20% to 51% for cash of approximately €253 million ($343 million) subject to working capital adjustments. The Company expects the acquisition to close in the second quarter of 2014 subject to the receipt of necessary regulatory approvals. Due to regulatory constraints the acquisition initially excludes Eurosport France, a subsidiary of Eurosport. The Company will retain a 20% equity interest in Eurosport France and a commitment to acquire another 31% ownership interest beginning in 2015, contingent upon resolution of all regulatory matters. The flagship Eurosport network focuses on regionally popular sports, such as tennis, skiing, cycling and motor sports. Eurosport’s brands and platforms also include Eurosport HD (high definition simulcast), Eurosport 2, Eurosport 2 HD (high definition simulcast), Eurosport Asia-Pacific, and Eurosportnews. The acquisition is intended to increase the growth of Eurosport and enhance the Company's pay television offerings in Europe. TF1 will have the right to put the entirety of its remaining 49% non-controlling interest to the Company during two windows for two and a ha

11

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

lf years after completion of this acquisition. If the put is exercised during the first 90 day window beginning July 1, 2015, it has a floor value equal to the fair value per share of Eurosport on the closing date of the Company's acquisition of the controlling interest. If the put is exercised during the second 90 day window beginning July 1, 2016, it is priced at the then-current fair value per share of Eurosport, or as may be agreed between the Company and TF1. (See Note 7.)

SBS Nordic

On April 9, 2013, the Company acquired the general entertainment television and radio business operations ("SBS Nordic") of Prosiebensat.1 Media AG for cash of approximately €1.4 billion ($1.8 billion) including closing purchase price adjustments. SBS Nordic has operations in Sweden, Norway, Denmark, Finland and England. The acquisition of SBS Nordic supports the Company’s strategic priority of increasing its presence in key international markets and is a component of the Company's International Networks segment.

The Company used discounted cash flow ("DCF") analyses, which represent Level 3 fair value measurements, to assess the components of its purchase price allocation. The table below presents the fair value allocation of the purchase price to the assets and liabilities acquired (in millions).

	April 9, 2013
Goodwill	$	779
Intangible assets	1,001
Content	248
Other assets acquired	212
Cash	106
Liabilities assumed	(278		)
Deferred tax liabilities	(243		)
Redeemable noncontrolling interest	(6		)
Net assets acquired	$	1,819

The goodwill reflects the workforce, synergies and increased Nordic region market penetration expected from combining the operations of SBS Nordic and the Company. The goodwill recorded as part of this acquisition is not amortizable for tax purposes. Intangible assets primarily consist of broadcast licenses, distribution and advertising customer relationships, advertiser backlog and trademarks with a weighted average estimated useful life of 8 years.

Discovery Japan

On January 10, 2013, the Company purchased an additional 30% of Discovery Japan for $53 million. Discovery Japan operates Discovery Channel and Animal Planet in Japan. As of December 31, 2012, Discovery and Jupiter Telecommunications Co., Ltd ("J:COM") each owned a 50% interest in Discovery Japan, and Discovery accounted for its 50% interest using the equity method of accounting. Discovery consolidated Discovery Japan on January 10, 2013 and recognized a gain of $92 million to account for the difference between the carrying value and the fair value of the previously held 50% equity interest. The gain is included in other (expense) income, net in the Company's consolidated statements of operations (see Note 13). The Company used a combination of a DCF analysis and market-based valuation methodologies, which represent Level 3 fair value measurements, to measure the fair value of Discovery Japan and to perform its purchase price allocation.

12

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

The table below presents the allocation of the purchase price to the assets and liabilities acquired (in millions).

	January 10, 2013
Goodwill	$	103
Intangible assets	100
Other assets acquired	25
Currency translation adjustment	6
Cash	4
Remeasurement gain on previously held equity interest	(92		)
Liabilities assumed	(55		)
Redeemable noncontrolling interest	(35		)
Carrying value of previously held equity interest	(3		)
Net assets acquired	$	53

The terms of the agreement provide J:COM with a right to put its 20% noncontrolling interest to Discovery for cash at any time and Discovery with the right to call J:COM's 20% noncontrolling interest beginning January 2018. As J:COM's put right is outside the control of the Company, J:COM's 20% noncontrolling interest is presented as redeemable noncontrolling interest outside of stockholders' equity on the Company's consolidated balance sheet (see Note 8).

The goodwill reflects the synergies and increased regional flexibility expected from controlling the operations of Discovery Japan and is included in the International Networks segment. The goodwill recorded as part of this acquisition is not amortizable for tax purposes. Intangible assets are primarily distribution customer relationships.

Other

OnFebruary 28, 2014, the Company acquired a factual entertainment production company in the U.K. for total consideration of £12 million ($20 million), including accrued purchase liabilities and net of cash acquired. The acquisition helps to strengthen the Company's content sourcing capabilities. As part of the acquisition, the Company recognized $28 million of goodwill.

In 2013, the Company acquired several other unrelated businesses for total consideration of $88 million, net of cash acquired. The Company recorded $67 million and $24 million of goodwill and intangible assets, respectively, in connection with these acquisitions. The acquisitions included a television station in Sweden and an education business in the U.K. The goodwill reflects the synergies and market expansion expected from combining the operations of these acquisitions with the Company.

The operations of acquisitions are included in the Company's consolidated financial statements as of their respective acquisition dates.

Consolidation of Business Combinations

The operations of each of the business combinations discussed above were included in the consolidated financial statements as of each of their respective acquisition dates. The following table presents the revenue and earnings of the businesses acquired after March 31, 2013 as reported within the consolidated financial statements for the three months ended March 31, 2014 (in millions).

	Three Months Ended March 31,
	2014
Revenue	$	184
Net loss	$	(20	)

Disposition

HSW

On April 18, 2014, Discovery entered into a definitive agreement to sell HowStuffWorks, LLC, a commercial website which uses various media to explain complex concepts, terminology and mechanisms, to Blucora, Inc. (“Blucora”). Blucora will pay Discovery $45 million and Discovery expects to recognize a pretax gain of approximately $30 million upon

13

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

completion of the sale. The transaction is expected to close in the second quarter of 2014, subject to the satisfaction or waiver of customary closing conditions.

NOTE 3. VARIABLE INTEREST ENTITIES

In the normal course of business, the Company makes investments that support its underlying business strategy and enable it to enter new markets and develop programming. In certain instances, an investment may qualify as a variable interest entity (“VIE”). As of March 31, 2014 and December 31, 2013, the Company’s VIEs primarily consisted of Hub Television Networks LLC and OWN LLC, which operate pay television networks in the U.S.

The Company accounted for its interests in VIEs using the equity method, as the Company is not the primary beneficiary. The aggregate carrying values of these equity method investments were $786 million and $789 million as of March 31, 2014 and December 31, 2013, respectively. The Company recognized $16 million in income and $1 million in losses for its portion of net income and losses generated by VIEs of during the three months ended March 31, 2014 and 2013, respectively.

As of March 31, 2014, the Company’s estimated risk of loss for investment carrying values, unfunded contractual commitments and guarantees made on behalf of VIEs was approximately $849 million. The estimated risk of loss excludes the Company’s expected non-contractual future funding of OWN and its operating performance guarantee for Hub Television Networks LLC, which are discussed below.

Hub Television Networks LLC

Hub Television Networks LLC operates the Hub Network, which is a pay television network that provides children’s and family entertainment and educational programming. The Company is obligated to provide the Hub Network with funding up to $15 million; the Company has not provided any funding as of March 31, 2014. The Company also provides services such as distribution, sales and administrative support services for a fee (see Note 14).

Based upon the level of equity investment at risk, the Hub Network is a VIE. Discovery and its partner, Hasbro Inc. (“Hasbro”), share equally in voting control and jointly consent to decisions about programming and marketing strategy and thereby direct the activities of the Hub Network that most significantly impact its economic performance. Neither has special governance rights, and both are equally represented on the board of the Hub Network. The partners also share equally in the profits, losses and funding of the Hub Network. The Company has determined that it is not the primary beneficiary of the Hub Network. Accordingly, the Company accounts for its investment in the Hub Network using the equity method.

Through December 31, 2015, the Company has guaranteed the performance of the Hub Network and is required to compensate Hasbro to the extent that distribution metrics decline versus levels historically achieved by the Discovery Kids channel. This guarantee extends on a declining basis through the period of guarantee. Upon inception of the Hub Network on May 22, 2009, the maximum amount potentially due under this guarantee was $300 million. As of March 31, 2014, the maximum amount potentially due under this guarantee was less than $40 million. As the Hub Network’s distribution is obtained under long-term contracts with stable subscriber levels, the Company believes the likelihood is remote that the guaranteed performance levels will not be achieved and, therefore, believes the performance guarantee is unlikely to have an adverse impact on the Company.

The carrying value of the Company’s investment in the Hub Network was $313 million and $312 million as of March 31, 2014 and December 31, 2013, respectively. The Company regularly monitors the valuation of its investment in accordance with GAAP, which requires an impairment charge when there is an other-than-temporary decline in the investment’s value. The Company primarily uses a discounted cash flow model to monitor the value of its investment. The Hub Network’s projected financial results and associated cash flows are key assumptions used in estimating the value of our investment. While the Hub Network is currently generating cash flow from operations, the network has not yet achieved the level of profitability and associated cash flows anticipated in the original long range plan. Management has recently implemented and continues to consider a number of initiatives, including changes to its programing strategy designed to improve the Hub Network’s financial performance by reducing costs, improving viewership and increasing revenues. The Company will continue to assess the carrying value of its investment in the Hub Network taking into account the outcome of the above initiatives. If the outcome of the above initiatives is not successful, the financial results of the Hub Network will vary negatively from the long range plan and, as a result, the carrying value of Discovery's equity investment, or underlying Hub Network assets, may be impaired. No impairment was recorded during the three months ended March 31, 2014.

OWN LLC

OWN LLC operates OWN, which is a pay television network and website that provides adult lifestyle content, which is focused on self-discovery, self-improvement and entertainment. Based upon the level of equity investment at risk, OWN is a

14

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

VIE. While the Company and Harpo, Inc. ("Harpo") are partners who share equally in voting control, power is not shared because Harpo holds operational rights related to programming and marketing, as well as selection and retention of key management personnel that significantly impact OWN’s economic performance. Accordingly, the Company has determined that it is not the primary beneficiary of OWN and accounts for its investment in OWN using the equity method. However, the Company provides OWN funding, content licenses, and services such as distribution, sales and administrative support for a fee (see Note 14).

The Company's combined advances to and note receivable from OWN, including accrued interest, were $473 million and $483 million, as of March 31, 2014 and December 31, 2013, respectively. During the three months ended March 31, 2014, the Company received net repayments of $19 million from OWN and accrued interest on the note receivable of $9 million. During the three months ended March 31, 2013, the Company provided OWN with funding of $14 million and accrued interest on the note receivable of $9 million. The note receivable is secured by the net assets of OWN. While the Company has no further funding commitments, the Company will provide additional funding to OWN, if necessary, and expects to recoup amounts funded. The funding to OWN accrues interest at 7.5% compounded annually. There can be no event of default on the borrowing until 2023. However, borrowings are scheduled for repayment four years after the borrowing date to the extent that OWN has excess cash to repay the borrowings then due. Following such repayment, OWN’s subsequent cash distributions will be shared equally between the Company and Harpo. OWN began repaying amounts owed to the Company during 2013.

In accordance with the venture agreement, losses generated by OWN are generally allocated to both investors based on their proportionate ownership interests. However, the Company has recorded its portion of OWN’s losses based upon accounting policies for equity method investments. Prior to the contribution of the Discovery Health network to OWN at its launch, the Company recognized $104 million or 100% of OWN’s net losses. During the three months ended March 31, 2012, accumulated operating losses at OWN exceeded the equity contributed to OWN, and Discovery began again to record 100% of OWN’s net losses. Although OWN has become profitable, the Company will record 100% of any net losses resulting from OWN's operations as long as Discovery provides all funding to OWN and OWN’s accumulated losses continue to exceed the equity contributed. All of OWN's future net income will initially be recorded by the Company until the Company recovers losses absorbed in excess of the Company's equity ownership interest.

The carrying value of the Company’s investment in OWN of $443 million and $449 million as of March 31, 2014 and December 31, 2013, respectively, includes a note receivable balance and accumulated investment losses. Given that the early results of OWN’s operations have been below its initial business plan, there is a possibility that the results of OWN’s future operations will fall below the revised long-term projections. The Company continues to monitor the financial results of OWN along with other relevant business information to assess the recoverability of the OWN note receivable. No impairment was recorded during the three months ended March 31, 2014.

Harpo has the right to require the Company to purchase all or part of Harpo’s interest in OWN at fair market value up to a maximum put amount every two and a half years commencing January 1, 2016. The maximum put amount ranges from $100 million on the first put exercise date up to a cumulative cap of $400 million on the fourth put exercise date. The Company has recorded no amounts for the put right.

NOTE 4. FAIR VALUE MEASUREMENTS

Fair value is defined as the amount that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants. Assets and liabilities carried at fair value are classified in the following three categories:

Level 1	–	Quoted prices for identical instruments in active markets.
Level 2	–	Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets.
Level 3	–	Valuations derived from techniques in which one or more significant inputs are unobservable.

15

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

The tables below present assets and liabilities measured at fair value on a recurring basis (in millions).

		March 31, 2014
Category	Balance Sheet Location	Level 1		Level 2		Level 3		Total
Assets:
Trading securities:
Mutual funds	Prepaid expenses and other current assets	$	138	$	—	$	—	$	138
Available-for-sale securities:
Common stock	Other noncurrent assets	4		—		—		4
Derivatives:
Foreign exchange	Prepaid expenses and other current assets	—		4		—		4
Foreign exchange	Other noncurrent assets	—		8		—		8
Total assets		$	142	$	12	$	—	$	154
Liabilities:
Deferred compensation plan	Accrued liabilities	$	138	$	—	$	—	$	138
Derivatives:
Foreign exchange	Accrued liabilities	—		3		—		3
TF1 put right	Accrued liabilities	—		—		27		27
Total liabilities		$	138	$	3	$	27	$	168

		December 31, 2013
Category	Balance Sheet Location	Level 1		Level 2		Level 3		Total
Assets:
Trading securities:
Mutual funds	Prepaid expenses and other current assets	$	129	$	—	$	—	$	129
Available-for-sale securities:
Common stock	Other noncurrent assets	4		—		—		4
Derivatives:
Foreign exchange	Prepaid expenses and other current assets	—		4		—		4
Foreign exchange	Other noncurrent assets	—		9		—		9
Total assets		$	133	$	13	$	—	$	146
Liabilities:
Deferred compensation plan	Accrued liabilities	$	129	$	—	$	—	$	129
Derivatives:
Foreign exchange	Accrued liabilities	—		1		—		1
TF1 put right	Accrued liabilities	—		—		20		20
Total liabilities		$	129	$	1	$	20	$	150

Trading securities are comprised of investments in mutual funds held in a separate trust which are owned as part of the Company’s deferred compensation plan. The fair value of Level 1 trading securities was determined by reference to the quoted market price per unit in active markets multiplied by the number of units held without consideration of transaction costs. The fair value of the related deferred compensation plan liability was determined based on the fair value of the related investments elected by employees.

Available-for-sale securities represent equity investments in highly liquid instruments. The fair value of Level 1 available-for-sale securities was determined by reference to the quoted market price per unit in active markets multiplied by the number of units held without consideration of transaction costs.

Derivative financial instruments are comprised of foreign exchange contracts used by the Company to modify its exposure to market risks from foreign exchange rates. The fair value of Level 2 derivative financial instruments was determined using a market-based approach.

16

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

TF1 has the conditional right to require the Company to purchase its remaining shares in Eurosport at various dates should Discovery complete its planned acquisition of a controlling interest in Eurosport. Written puts that do not qualify for equity classification are reported at fair value and subsequently marked to fair value through earnings regardless of associated contingencies. The fair value measurement of the TF1 put was determined through the use of a Monte Carlo simulation model. The Monte Carlo model simulates the various sources of uncertainty impacting the value of a financial instrument and uses those simulations to develop an estimated fair value for the instrument. The valuation methodology for the TF1 put is based on unobservable estimates and judgments, and therefore represents a Level 3 fair value measurement. At March 31, 2014 and December 31, 2013, the estimated fair value of the TF1 put was $27 million and $20 million, respectively. There were no changes to the valuation methodology used to estimate the fair value of the TF1 put during the three months ended March 31, 2014. (See Note 2.)

In addition to the financial instruments listed in the tables above, the Company holds other financial instruments, including cash deposits, accounts receivable, accounts payable and debt. The carrying values for each approximated their fair values other than debt. The estimated fair value of the Company’s outstanding senior notes using quoted prices from over the counter markets, considered Level 2 inputs, was $7.3 billion and $6.6 billion as of March 31, 2014 and December 31, 2013, respectively.

NOTE 5. CONTENT RIGHTS

The table below presents the components of content rights (in millions).

	March 31, 2014			December 31, 2013
Produced content rights:
Completed	$	3,761		$	3,566
In-production	318			334
Coproduced content rights:
Completed	653			637
In-production	85			84
Licensed content rights:
Acquired	927			880
Prepaid	58			48
Content rights, at cost	5,802			5,549
Accumulated amortization	(3,593		)	(3,389		)
Total content rights, net	2,209			2,160
Current portion	(307		)	(277		)
Noncurrent portion	$	1,902		$	1,883

Content expense, which consists of content amortization, impairments and other production charges, is included in cost of revenues on the consolidated statements of operations. Content expense was $377 million and $256 million for the three months ended March 31, 2014 and 2013, respectively. Content impairments were $6 million and $4 million for the three months ended March 31, 2014 and 2013, respectively.

17

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

NOTE 6. DEBT

The table below presents the components of outstanding debt (in millions).

	March 31, 2014			December 31, 2013
3.70% Senior Notes, semi-annual interest, due June 2015	$	850		$	850
5.625% Senior Notes, semi-annual interest, due August 2019	500			500
5.05% Senior Notes, semi-annual interest, due June 2020	1,300			1,300
4.375% Senior Notes, semi-annual interest, due June 2021	650			650
2.375% Senior Notes, euro denominated, annual interest, due March 2022(a)	412			—
3.30% Senior Notes, semi-annual interest, due May 2022	500			500
3.25% Senior Notes, semi-annual interest, due April 2023	350			350
6.35% Senior Notes, semi-annual interest, due June 2040	850			850
4.95% Senior Notes, semi-annual interest, due May 2042	500			500
4.875% Senior Notes, semi-annual interest, due April 2043	850			850
Capital lease obligations	175			165
Total debt	6,937			6,515
Unamortized discount	(19		)	(16		)
Debt, net	6,918			6,499
Current portion of debt	(18		)	(17		)
Noncurrent portion of debt	$	6,900		$	6,482

^(a) Remeasurement from euro using the exchange rate of €1.00 = $1.37 on March 31, 2014.

On March 7, 2014, Discovery Communications, LLC ("DCL"), a wholly-owned subsidiary of the Company, issued €300 million principal amount ($417 million, at issuance based on the exchange rate of $1.39 per euro at March 7, 2014) of 2.375% Senior Notes due March 7, 2022 (the "2014 Notes"). The proceeds received by DCL from the offering were net of a $3 million issuance discount and $2 million of deferred financing costs.

DCL has the option to redeem some or all of the 2014 Notes at any time prior to their maturity by paying a make-whole premium plus accrued and unpaid interest, if any, through the date of repurchase. Interest on the 2014 Notes is payable annually on March 7 of each year. The 2014 Notes are unsecured and rank equally in right of payment with all of DCL's other unsecured senior indebtedness and are fully and unconditionally guaranteed on an unsecured and unsubordinated basis by Discovery. The outstanding senior notes contain certain nonfinancial covenants, events of default and other customary provisions. The Company was in compliance with all covenants and customary provisions and there were no events of default as of March 31, 2014.

The 2014 Notes are denominated in euro and expose Discovery to fluctuations in foreign exchange rates in that currency. Discovery has reported the change in fair value for these 2014 Notes in earnings.

In addition to the debt instruments listed in the table above, the Company also has access to a $1.0 billion revolving credit facility. There were no amounts drawn under the revolving credit facility as of March 31, 2014 or December 31, 2013. If the Company were to draw on the revolving credit facility, outstanding balances would bear interest at a variable rate determined pursuant to the lending agreement. Balances outstanding under the revolving credit facility would be due on the expiration date which is October 12, 2017.

The revolving credit facility contains affirmative and negative covenants, including an interest coverage ratio and leverage ratio, events of default and other customary provisions. The Company was in compliance with all covenants and there were no events of default as of March 31, 2014 and December 31, 2013.

NOTE 7. DERIVATIVE FINANCIAL INSTRUMENTS

The Company may use derivative financial instruments to modify its exposure to market risks from changes in interest rates and foreign exchange rates. The Company does not enter into or hold derivative financial instruments for speculative trading purposes.

18

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

During the three months ended March 31, 2014 and 2013, the Company designated foreign currency forward contracts used to hedge anticipated distribution revenue as cash flow hedges. The Company also designated interest rate contracts used to hedge the pricing for certain senior notes as cash flow hedges. Gains and losses on the effective portion of designated cash flow hedges are initially recorded in accumulated other comprehensive income on the consolidated balance sheet and reclassified to the statement of operations when the hedged item is recognized.

During the three months ended March 31, 2013, the Company entered into foreign exchange contracts in connection with the planned acquisition of SBS Nordic (see Note 2). These derivatives, which economically hedged the Company's exposure to fluctuations in certain foreign currency exchange rates, did not qualify for hedge accounting and realized and unrealized losses resulting thereon were reflected in the consolidated statements of operations. There were no unsettled foreign exchange contracts held by the Company in connection with potential business combinations as of March 31, 2014 and December 31, 2013. The Company also acquired foreign currency forward contracts in its business combinations that did not qualify for hedge accounting. Gains and losses on these foreign currency forward contracts are reflected in other (expense) income, net on the consolidated statements of operations.

TF1 has the conditional right to require the Company to purchase its remaining shares in Eurosport. Written puts that do not qualify for equity classification are reported at fair value and subsequently marked to fair value through earnings regardless of associated contingencies. (See Note 4.)

The Company records all unsettled derivative contracts on the consolidated balance sheet at fair value (see Note 4); derivatives in an asset position are classified as assets, and derivatives in a liability position are classified as liabilities. The Company's master netting agreements allow the Company to settle derivative contracts denominated in the same currency with a single counterparty on the same day on a net basis. There were no amounts eligible to be offset under master netting agreements as of March 31, 2014 and December 31, 2013.

The following table summarizes the notional amount and fair value of the Company's derivative positions (in millions).

		March 31, 2014				December 31, 2013
	Balance Sheet Location	Notional		Fair Value		Notional		Fair Value
Derivatives designated as hedges:
Foreign exchange	Prepaid expenses and other current assets	$	31	$	4	$	16	$	4
Foreign exchange	Other noncurrent assets	$	47	$	8	$	36	$	9
Interest rate	Other noncurrent assets	$	100	$	—	$	—	$	—
Foreign exchange	Accrued liabilities	$	87	$	2	$	—	$	—
Derivatives not designated as hedges:
Foreign exchange	Accrued liabilities	$	7	$	1	$	4	$	1
TF1 put right	Accrued liabilities	$	573	$	27	$	574	$	20
Foreign exchange	Other noncurrent liabilities	$	3	$	—	$	3	$	—

The following table presents the pretax impact of derivatives designated as cash flow hedges on income and other comprehensive income (loss) (in millions).

	Three Months Ended March 31,
	2014			2013
Foreign exchange
(Losses) gains recognized in accumulated other comprehensive income	$	(2	)	$	5
Gains reclassified from accumulated other comprehensive income into other (expense) income, net (effective portion)	$	1		$	—

19

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

The following table presents the pretax losses on derivatives not designated as hedges recognized in other (expense) income, net in the consolidated statement of operations (in millions).

	Three Months Ended March 31,
	2014			2013
Foreign exchange	$	—		$	(59	)
TF1 put right	(7		)	—
Total	$	(7	)	$	(59	)

NOTE 8. REDEEMABLE NONCONTROLLING INTERESTS

In connection with the acquisition of Discovery Japan on January 10, 2013, the Company recognized $35 million for the fair value of J:COM's noncontrolling interest (see Note 2). The terms of the agreement provide J:COM with a right to put all, but not less than all, of its 20% noncontrolling interest to Discovery at any time for cash. For the first four years, the redemption value is the January 10, 2013 fair value denominated in Japanese yen; thereafter, the redemption value is the greater of the then current fair value or the January 10, 2013 fair value denominated in Japanese yen.

In connection with the acquisition of SBS Nordic on April 9, 2013, the Company recognized an additional $6 million for the fair value of a noncontrolling interest in one of its Danish subsidiaries (see Note 2). The noncontrolling interest holder has a conditional right from November 20, 2014 through May 31, 2015 to put its 20% ownership interest to SBS. The redemption value is denominated in Danish kroner.

Because exercise of these put rights is outside the Company's control, the noncontrolling interests are presented as redeemable noncontrolling interests outside of stockholders' equity on the Company's consolidated balance sheet. Redeemable noncontrolling interests reflected as of the balance sheet date are the greater of the noncontrolling interest balances adjusted for comprehensive income items or the redemption values remeasured at the period end foreign exchange rates (i.e. the "floor"). Adjustments to the carrying amount of redeemable noncontrolling interests to redemption value as a result of changes in exchange rates are reflected in currency translation adjustments, a component of other comprehensive income (loss); however, such currency translation adjustments to redemption value are allocated to Discovery stockholders only. Redeemable noncontrolling interest adjustments of redemption value to the floor are reflected in retained earnings and as an adjustment to income from continuing operations available to Discovery Communications, Inc. stockholders in the calculation of earnings per share. (See Note 12.)

The table below presents the reconciliation of changes in redeemable noncontrolling interests (in millions).

	Three Months Ended March 31,
	2014			2013
Beginning balance	$	36		$	—
Initial fair value of redeemable noncontrolling interests of acquired businesses	—			35
Comprehensive income adjustments:
Net income attributable to redeemable noncontrolling interests	1			—
Currency translation on redemption values	1			—
Retained earnings adjustments:
Adjustments to redemption value	(1		)	(2		)
Ending balance	$	37		$	33

20

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

NOTE 9. EQUITY

Stock Repurchase Program

Under the Company's stock repurchase program, management is authorized to purchase shares of the Company's common stock from time to time through open market purchases or privately negotiated transactions at prevailing prices or pursuant to one or more accelerated stock repurchase agreements or other derivative arrangement as permitted by securities laws and other legal requirements, and subject to stock price, business and market conditions and other factors. The total authorization under the stock repurchase program is $5.5 billion. As of March 31, 2014, the Company had remaining authorization of $1.7 billion for future repurchases under the stock repurchase program, of which $204 million and $1.5 billion will expire on December 11, 2014 and February 3, 2016, respectively.

Repurchased stock is recorded in treasury stock on the consolidated balance sheet. During the three months ended March 31, 2014 the Company repurchased 3.4 million Series C common shares for $266 million through open market transactions using cash on hand. The Company made no stock repurchases during the three months ended March 31, 2013. As of March 31, 2014, the Company had repurchased over the life of the program 2.8 million and 73.4 million shares of Series A and Series C common stock for the aggregate purchase price of $171 million and $3.6 billion, respectively.

Common Stock

On February 13, 2014, John C. Malone, a member of Discovery’s Board of Directors entered into an agreement granting David Zaslav, the Company’s President and Chief Executive Officer, certain voting and purchase rights with respect to the approximately 5.9 million shares of the Company’s Series B common stock owned by Dr. Malone. The agreement gives Mr. Zaslav the right to vote the Series B shares if Dr. Malone is not otherwise voting or directing the vote of those shares. The agreement also provides that if Dr. Malone proposes to sell the Series B shares, Mr. Zaslav will have the first right to negotiate for the purchase of the shares. If that negotiation is not successful and Dr. Malone proposed to sell the Series B shares to a third party, Mr. Zaslav will have the exclusive right to match that offer. The rights granted under the agreement will remain in effect for as long as Mr. Zaslav is either employed as a principal executive officer of the Company or serving on its Board of Directors.

Preferred Stock Repurchase

On March 6, 2013, the Company agreed to repurchase and retire 4 million shares of its Series C convertible preferred stock from Advance Programming Holdings, LLC for an aggregate purchase price of $256 million, which was recorded as a decrease of par value of preferred stock and retained earnings. The repurchase was made outside of the Company's publicly announced stock repurchase program. The share repurchase was completed on April 5, 2013 using cash on hand. There were no preferred stock repurchases during the three months ended March 31, 2014.

Other Comprehensive Income (Loss)

The table below presents the tax effects related to each component of other comprehensive income (loss) and reclassifications made into the consolidated statements of operations (in millions).

	Three Months Ended March 31, 2014									Three Months Ended March 31, 2013
	Pretax			Tax Provision			Net-of-tax			Pretax			Tax Provision			Net-of-tax
Currency translation adjustments:
Unrealized gains / (losses)	$	2		$	(1	)	$	1		$	(64	)	$	11		$	(53	)
Reclassification to other (expense) income, net	—			—			—			(9		)	3			(6		)
Derivative and market value adjustments:
Unrealized (losses) gains	(1		)	1			—			7			(3		)	4
Reclassifications to other (expense) income, net	(1		)	—			(1		)	—			—			—
Other comprehensive income (loss)	$	—		$	—		$	—		$	(66	)	$	11		$	(55	)

21

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

Accumulated Other Comprehensive Income

The table below presents the changes in the components of accumulated other comprehensive income, net of taxes (in millions).

	Three Months Ended March 31, 2014									Three Months Ended March 31, 2013
	Currency Translation Adjustments			Derivative and Market Value Adjustments			Accumulated Other Comprehensive Income			Currency Translation Adjustments			Derivative and Market Value Adjustments		Accumulated Other Comprehensive Income (Loss)
Beginning balance	$	(8	)	$	12		$	4		$	(1	)	$	5	$	4
Other comprehensive income (loss) before reclassifications	1			—			1			(53		)	4		(49		)
Reclassifications from accumulated other comprehensive income to net income	—			(1		)	(1		)	(6		)	—		(6		)
Ending balance	$	(7	)	$	11		$	4		$	(60	)	$	9	$	(51	)

NOTE 10. EQUITY-BASED COMPENSATION

The Company has various incentive plans under which performance-based restricted stock units ("PRSUs"), time-based restricted stock units ("RSUs"), stock options, unit awards and stock appreciation rights ("SARs") have been issued. As of March 31, 2014, the Company has reserved a total of 72 million shares of its Series A and Series C common stock for future exercises of outstanding and future grants of stock options and future vesting of outstanding and future grants of PRSUs and RSUs. Upon exercise of stock options or vesting of PRSUs and RSUs, the Company issues new shares from its existing authorized but unissued shares. There were 62 million shares of common stock in reserves that were available for future grant under incentive plans as of March 31, 2014.

During the three months ended March 31, 2014, the vesting and service requirements of equity-based awards granted were consistent with the arrangements disclosed in the 2013 Form 10-K.

Equity-Based Compensation Expense

The table below presents the components of equity-based compensation expense (in millions).

	Three Months Ended March 31,
	2014			2013
PRSUs and RSUs	$	11		$	12
Stock options	9			8
Unit awards	1			24
SARs	(2		)	16
Total equity-based compensation expense	$	19		$	60
Tax benefit recognized	$	7		$	14

Compensation expense for all awards is recorded in selling, general and administrative expense in the consolidated statements of operations. As of March 31, 2014 and December 31, 2013, the Company recorded total liabilities for cash-settled awards of $55 million and $138 million, respectively. The current portion of the liability for cash-settled awards was $35 million and $85 million as of March 31, 2014 and December 31, 2013, respectively.

22

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

Equity-Based Award Activity

PRSUs and RSUs

The table below presents PRSU and RSU activity (in millions, except years and weighted-average grant price).

	PRSUs and RSUs		Weighted-Average Grant Price		Weighted-Average Remaining Contractual Term (years)	Aggregate Fair Value
Outstanding as of December 31, 2013	2.4		$	46.00
Granted	1.6		83.32
Converted	(0.7	)	38.55			$	58
Forfeited	(0.1	)	78.88
Outstanding as of March 31, 2014	3.2		$	65.15	1.5	$	267
Vested and expected to vest as of March 31, 2014	3.1		$	64.88	1.4	$	258

PRSUs represent the contingent right to receive shares of the Company’s Series A common stock based on continuous service and the Company's achievement of certain operating performance targets. As of March 31, 2014, there were approximately 2 million outstanding PRSUs with a weighted-average grant price of $64.20. As of March 31, 2014, unrecognized compensation cost, net of expected forfeitures, related to PRSUs was $108 million, which is expected to be recognized over a weighted-average period of 1.2 years.

RSUs represent the contingent right to receive shares of the Company’s Series A common stock based on continuous service. As of March 31, 2014, there were slightly less than 1 million outstanding RSUs with a weighted-average grant price of $67.75. As of March 31, 2014, unrecognized compensation cost, net of expected forfeitures, related to RSUs was $43 million, which is expected to be recognized over a weighted-average period of 3.0 years.

Stock Options

The table below presents stock option activity (in millions, except years and weighted-average exercise price).

	Stock Options		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Outstanding as of December 31, 2013	7.6		$	36.47
Granted	0.9		83.30
Exercised	(0.3	)	28.63			$	15
Outstanding as of March 31, 2014	8.2		$	41.71	4.5	$	335
Vested and expected to vest as of March 31, 2014	8.0		$	41.00	4.5	$	333
Exercisable as of March 31, 2014	5.4		$	29.71	4.0	$	283

The Company received cash payments from the exercise of stock options totaling $8 million and $15 million during the three months ended March 31, 2014 and 2013, respectively. The weighted average grant date fair value of stock options granted during the three months ended March 31, 2014 was $21.85 per option. As of March 31, 2014, there was $38 million of unrecognized compensation cost, net of expected forfeitures, related to stock options, which is expected to be recognized over a weighted-average period of 1.8 years.

23

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

Unit Awards

The table below presents unit award activity (in millions, except years and weighted-average grant price).

	Unit Awards		Weighted- Average Grant Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Outstanding as of December 31, 2013	1.6		$	38.46
Settled	(1.0	)	36.96			$	52
Outstanding as of March 31, 2014	0.6		$	41.17	0.8	$	24
Vested and expected to vest as of March 31, 2014	0.6		$	41.17	0.8	$	24

Unit awards represent the contingent right to receive a cash payment for the amount by which the vesting price of Company stock exceeds the grant price. Because unit awards are cash-settled, the Company remeasures the fair value and compensation expense of outstanding unit awards each reporting date until settlement. As of March 31, 2014, the weighted-average fair value of unit awards outstanding was $41.98 per unit award. The Company made cash payments to settle vested unit awards totaling $52 million and $49 million during the three months ended March 31, 2014 and 2013, respectively. As of March 31, 2014, there was $12 million of unrecognized compensation cost, net of estimated forfeitures, related to unit awards, which is expected to be recognized over a weighted-average period of 0.8 years.

SARs

The table below presents SAR award activity (in millions, except years and weighted-average grant price).

	SARs		Weighted- Average Grant Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Outstanding as of December 31, 2013	3.2		$	55.20
Granted	3.7		86.51
Settled	(0.9	)	53.65			$	29
Outstanding as of March 31, 2014	6.0		$	74.71	2.0	$	62
Vested and expected to vest as of March 31, 2014	6.0		$	74.71	2.0	$	62

As of March 31, 2014, the weighted-average fair value of SARs outstanding was $17.66 per award. The Company made cash payments of $29 million and $10 million to settle exercised SARs during the three months ended March 31, 2014 and 2013, respectively. As of March 31, 2014, there was $64 million of unrecognized compensation cost, net of estimated forfeitures, related to SARs, which is expected to be recognized over a weighted-average period of 2.0 years.

Employee Stock Purchase Plan

The Discovery Communications, Inc. 2011 Employee Stock Purchase Plan (the "DESPP") enables eligible employees to purchase shares of the Company’s common stock through payroll deductions or other permitted means. During the three months ended March 31, 2014 and 2013, the Company issued 21 thousand and 17 thousand shares under the DESPP and received cash totaling $2 million and $1 million, respectively.

NOTE 11. INCOME TAXES

The Company's provisions for income taxes on income from continuing operations were $118 million and $146 million, and effective income tax rates were 34% and 39% for the three months ended March 31, 2014 and 2013, respectively.

24

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

The following table reconciles the Company's effective income tax rate to the U.S. federal statutory income tax rate of 35%.

	Three Months Ended March 31,
	2014		2013
U.S. federal statutory income tax rate	35	%	35	%
State and local income taxes, net of federal tax benefit	3	%	3	%
Effect of foreign operations	(1	)%	1	%
Domestic production activity deductions	(3	)%	1	%
Change in uncertain tax positions	(2	)%	—	%
Remeasurement gain on previously held equity interest	—	%	(2	)%
Other, net	2	%	1	%
Effective income tax rate	34	%	39	%

The Company and its subsidiaries file income tax returns in the U.S. and various state and foreign jurisdictions. The Company is currently under examination by the IRS for its 2011 and 2010 consolidated federal income tax returns. The Company does not anticipate any material adjustments. With few exceptions, the Company is no longer subject to audit by any jurisdiction for years prior to 2006.

The Company's reserves for uncertain tax positions at March 31, 2014 and December 31, 2013 totaled $181 million and $185 million, respectively. It is reasonably possible that the total amount of unrecognized tax benefits related to certain of the Company's uncertain tax positions could decrease as much as $22 million within the next twelve months as a result of ongoing audits, lapses of statutes of limitations or regulatory developments.

As of March 31, 2014 and December 31, 2013, the Company had accrued approximately $14 million and $11 million, respectively, of total interest and penalties payable related to unrecognized tax benefits. The Company recognizes interest and penalties related to unrecognized tax benefits as a component of income tax expense.

25

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

NOTE 12. EARNINGS PER SHARE

The table below sets forth the computation of the weighted average number of shares outstanding utilized in determining basic and diluted earnings per share (in millions, except per share amounts).

	Three Months Ended March 31,
	2014			2013
Numerator:
Net income	$	231		$	231
Less:
Net income attributable to redeemable noncontrolling interests	(1		)	—
Redeemable noncontrolling interest adjustments to redemption value	1			2
Net income available to Discovery Communications, Inc. stockholders	$	231		$	233
Denominator:
Weighted average shares outstanding — basic	348			363
Weighted average dilutive effect of equity awards	4			4
Weighted average shares outstanding — diluted	352			367
Income per share:
Net income per share available to Discovery Communications, Inc. stockholders:
Basic	$	0.66		$	0.64
Diluted	$	0.66		$	0.63

Earnings per share is calculated by dividing the applicable income available to Discovery Communications, Inc. stockholders from continuing operations by the weighted average number of shares outstanding. The Company applies the two-class method for calculating earnings per share. The two-class method calculates earnings per share by distinguishing between the classes of securities based on the proportionate participation rights of each award type in the Company's undistributed income. Adjustments to the carrying amount of redeemable noncontrolling interests to redemption value, excluding currency translation adjustments, are reflected in earnings per share using the two-class method, similar to the treatment of a dividend.

At March 31, 2014 and 2013, the weighted average number of basic and diluted shares outstanding included the Company’s outstanding Series A, Series B and Series C common stock, as well as its outstanding Series A and Series C convertible preferred stock, as the holder of each common and preferred series legally participates equally in any per share distributions. Diluted earnings per share adjusts basic earnings per share for the dilutive effect of the assumed exercise of outstanding equity awards using the treasury stock method. Only outstanding PRSUs whose performance targets have been achieved as of the last day of the most recent period are included in the dilutive effect calculation.

The table below presents the details of the equity-based awards that were excluded from the calculation of diluted earnings per share (in millions).

	Three Months Ended March 31,
	2014	2013
Anti-dilutive stock options, PRSUs and RSUs	1	—
PRSUs whose performance targets have not been achieved	2	1

26

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

NOTE 13. SUPPLEMENTAL DISCLOSURES

Accrued Liabilities

Accrued liabilities consisted of the following (in millions).

	March 31, 2014		December 31, 2013
Accrued payroll and related benefits	$	284	$	373
Content rights payable	184		212
Accrued income taxes	121		71
Accrued interest	105		43
Current portion of equity-based compensation liabilities	35		85
Other accrued liabilities	218		208
Total accrued liabilities	$	947	$	992

Other (Expense) Income, Net

Other (expense) income, net consisted of the following (in millions).

	Three Months Ended March 31,
	2014			2013
Foreign currency losses, net	$	(11	)	$	(2	)
Loss on derivative instruments	(7		)	(59		)
Remeasurement gain on previously held equity interest	—			92
Other income, net	1			—
Total other (expense) income, net	$	(17	)	$	31

Cash Proceeds from Equity-Based Plans, Net

Cash proceeds from equity-based plans, net consisted of the following (in millions).

	Three Months Ended March 31,
	2014			2013
Tax settlements associated with equity-based plans	$	(26	)	$	(22	)
Excess tax benefits from equity-based compensation	16			13
Proceeds from issuance of common stock for equity-based plans	10			16
Total cash proceeds from equity-based plans, net	$	—		$	7

NOTE 14. RELATED PARTY TRANSACTIONS

In the normal course of business, the Company enters into transactions with related parties. Related parties include entities that share common directorship, such as Liberty Global plc (“Liberty Global”), Liberty Media Corporation ("Liberty Media") and their subsidiaries and equity method investees (together the “Liberty Group”). Discovery’s Board of Directors includes Dr. Malone, who is Chairman of the Board of Liberty Global and beneficially owns approximately 27% of the aggregate voting power with respect to the election of directors of Liberty Global. Dr. Malone is Chairman of the Board of Liberty Media and beneficially owns approximately 47% of the aggregate voting power with respect to the election of directors of Liberty Media. The majority of the revenue earned from the Liberty Group relates to multi-year network distribution arrangements. The Company also discloses related party revenues for content and services provided to equity method investees, including unconsolidated VIEs (see Note 3). Other related party revenue and service charges included in the table below primarily consist of distribution revenue from J:COM earned by Discovery Japan. Following the consolidation of Discovery Japan (see Note 2), revenues earned from J:COM are reflected in related party revenues.

27

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

The table below presents a summary of the transactions with related parties (in millions).

	Three Months Ended March 31,
	2014		2013
Revenues and service charges:
Liberty Group(a)	$	38	$	12
Equity method investees	21		17
Other	8		5
Total revenues and service charges	$	67	$	34
Interest income(b)	$	9	$	9
Expenses	$	10	$	7

^(a) The increase in revenue from transactions with the Liberty Group is primarily attributable to activity with Charter Communications, Inc. ("Charter") and Virgin Media, Inc. ("Virgin Media"). In May 2013 Liberty Media completed its equity method investment in Charter; Dr. Malone is on Charter's board of directors. In June 2013, Liberty Global announced it had completed its acquisition of Virgin Media. Transactions with Charter and Virgin Media have been reported as related party transactions since the date they became related parties.

^(b) The Company records interest earnings from loans to equity method investees as a component of earnings (losses) from equity method investees, net, in the consolidated statements of operations.

The table below presents receivables due from related parties (in millions).

	March 31, 2014		December 31, 2013
Receivables	$	45	$	41
Note receivable (see Note 3)	$	473	$	483

NOTE 15. COMMITMENTS, CONTINGENCIES, AND GUARANTEES

Commitments

In the normal course of business, the Company enters into various commitments, which primarily include programming and talent arrangements, operating and capital leases, employment contracts, arrangements to purchase various goods and services, future funding commitments to equity method investees (see Note 3), and the obligation to issue additional shares of preferred stock under the anti-dilution provisions of its outstanding preferred stock.

Contingencies

Put Rights

The Company has granted put rights related to certain equity method investments and consolidated subsidiaries: Harpo has the right to require the Company to purchase its interest in OWN for fair value at various dates (see Note 3); TF1 has the right to require the Company to purchase its remaining shares in Eurosport at various dates should Discovery acquire a controlling interest in Eurosport (see Note 4); and noncontrolling interests hold put rights that obligate the Company to purchase redeemable noncontrolling interests in consolidated subsidiaries (see Note 8).

Legal Matters

In the normal course of business, the Company experiences routine claims and legal proceedings. It is the opinion of the     Company’s management, based on information available at this time, that none of the current claims and proceedings will have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows.

Guarantees

The Company has guaranteed a certain level of operating performance for the Hub Network (see Note 3). There were no amounts recorded for guarantees associated with the Hub Network as of March 31, 2014 and December 31, 2013.

The Company may provide indemnities intended to allocate business transaction risks. Similarly, the Company may remain contingently liable for certain obligations of a divested business in the event that a third party does not fulfill its

28

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

obligations under an indemnification obligation. The Company records a liability for its indemnification obligations and other contingent liabilities when probable and estimable. There were no material amounts for indemnifications or other contingencies recorded as of March 31, 2014 and December 31, 2013.

NOTE 16. REPORTABLE SEGMENTS

The Company’s reportable segments are determined based on (i) financial information reviewed by its chief operating decision maker (“CODM”), the Chief Executive Officer, (ii) internal management and related reporting structure, and (iii) the basis upon which the CODM makes resource allocation decisions.

The accounting policies of the reportable segments are the same as the Company’s, except that certain inter-segment transactions that are eliminated for consolidation are not eliminated at the segment level as they are treated as a third-party sales transactions in determining segment performance. Inter-segment transactions, which primarily include the purchase of advertising and content between segments, were not significant for the periods presented.

The Company evaluates the operating performance of its segments based on financial measures such as revenues and adjusted operating income before depreciation and amortization (“Adjusted OIBDA”). Adjusted OIBDA is defined as revenues less costs of revenues and selling, general and administrative expenses excluding: (i) mark-to-market equity-based compensation, (ii) depreciation and amortization, (iii) amortization of deferred launch incentives, (iv) exit and restructuring charges, (v) certain impairment charges and (vi) gains and losses on business and asset dispositions. The Company uses this measure to assess the operating results and performance of its segments, perform analytical comparisons, identify strategies to improve performance and allocate resources to each segment. The Company believes Adjusted OIBDA is relevant to investors because it allows them to analyze the operating performance of each segment using the same metric management uses. The Company excludes mark-to-market equity-based compensation, exit and restructuring charges, certain impairment charges, and gains and losses on business and asset dispositions from the calculation of Adjusted OIBDA due to their volatility. The Company also excludes depreciation of fixed assets, amortization of intangible assets and deferred launch incentives, as these amounts do not represent cash payments in the current reporting period. Certain corporate expenses are excluded from segment results to enable executive management to evaluate segment performance based upon the decisions of segment executives. Adjusted OIBDA should be considered in addition to, but not a substitute for, operating income, net income and other measures of financial performance reported in accordance with GAAP. The tables below present summarized financial information for each of the Company’s reportable segments and corporate and inter-segment eliminations (in millions).

Revenues by Segment

	Three Months Ended March 31,
	2014		2013
U.S. Networks	$	708	$	686
International Networks	671		444
Education	32		27
Corporate and inter-segment eliminations	—		(1		)
Total revenues	$	1,411	$	1,156

Adjusted OIBDA by Segment

	Three Months Ended March 31,
	2014			2013
U.S. Networks	$	383		$	377
International Networks	221			187
Education	6			7
Corporate and inter-segment eliminations	(85		)	(71		)
Total Adjusted OIBDA	$	525		$	500

29

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

Reconciliation of Total Adjusted OIBDA to Total Operating Income

	Three Months Ended March 31,
	2014			2013
Total Adjusted OIBDA	$	525		$	500
Amortization of deferred launch incentives	(2		)	(5		)
Mark-to-market equity-based compensation	(3		)	(46		)
Depreciation and amortization	(83		)	(32		)
Restructuring charges	(3		)	(1		)
Operating income	$	434		$	416

Total Assets by Segment

	March 31, 2014		December 31, 2013
U.S. Networks	$	2,919	$	2,978
International Networks	5,228		4,792
Education	118		125
Corporate and inter-segment eliminations	7,046		7,084
Total assets	$	15,311	$	14,979

Total assets for corporate and inter-segment eliminations include goodwill that is allocated to the Company’s segments to account for goodwill. The presentation of segment assets in the table above is consistent with the financial reports that are reviewed by the Company’s CODM.

NOTE 17. CONDENSED CONSOLIDATING FINANCIAL STATEMENTS

Overview

As of March 31, 2014 and December 31, 2013, the senior notes outstanding (see Note 6) have been issued by DCL, a wholly-owned subsidiary of the Company, pursuant to Registration Statements on Form S-3 filed with the U.S. Securities and Exchange Commission (the “Shelf Registration”). The Company fully and unconditionally guarantees the senior notes on an unsecured basis. The Company, DCL, and/or Discovery Communications Holding, LLC (“DCH”), a wholly-owned subsidiary of the Company (collectively, the “Issuers”), may issue additional debt securities under the Shelf Registration that are fully and unconditionally guaranteed by the other Issuers.

Set forth below are condensed consolidating financial statements presenting the financial position, results of operations and comprehensive income, and cash flows of (i) the Company, (ii) DCH, (iii) DCL, (iv) the non-guarantor subsidiaries of DCL on a combined basis, (v) the other non-guarantor subsidiaries of the Company on a combined basis and (vi) reclassifications and eliminations necessary to arrive at the consolidated financial statement balances for the Company. DCL and the non-guarantor subsidiaries of DCL are the primary operating subsidiaries of the Company. DCL primarily includes Discovery Channel and TLC networks in the U.S. The non-guarantor subsidiaries of DCL include the Company’s other U.S. and international networks, education businesses, and most of the Company’s websites and other digital media services. The non-guarantor subsidiaries of DCL are wholly-owned subsidiaries of DCL with the exception of certain equity method investments. DCL is a wholly-owned subsidiary of DCH. The Company wholly owns DCH through a 33 1/3% direct ownership interest and a 66 2/3% indirect ownership interest through Discovery Holding Company (“DHC”), a wholly-owned subsidiary of the Company. DHC is included in the other non-guarantor subsidiaries of the Company.

Basis of Presentation

Solely for purposes of presenting the condensed consolidating financial statements, investments in the Company’s subsidiaries have been accounted for by their respective parent company using the equity method. Accordingly, in the following condensed consolidating financial statements, the equity method has been applied to (i) the Company’s interests in DCH and the other non-guarantor subsidiaries of the Company, (ii) DCH’s interest in DCL and (iii) DCL’s interests in the non-guarantor subsidiaries of DCL. Inter-company accounts and transactions have been eliminated to arrive at the consolidated financial statement amounts for the Company. The Company’s accounting bases in all subsidiaries, including goodwill and recognized intangible assets, have been “pushed-down” to the applicable subsidiaries.

30

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

The operations of certain of the Company’s international subsidiaries are excluded from the Company’s consolidated U.S. income tax return. Tax expense related to permanent differences has been allocated to the entity that created the difference. Tax expense related to temporary differences has been allocated to the entity that created the difference, where identifiable. The remaining temporary differences are allocated to each entity included in the Company’s consolidated U.S. income tax return based on each entity’s relative pretax income. Deferred taxes have been allocated based upon the temporary differences between the carrying amounts of the respective assets and liabilities of the applicable entities.

The condensed consolidating financial statements should be read in conjunction with the consolidated financial statements of the Company.

31

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

Condensed Consolidating Balance Sheet

March 31, 2014

(in millions)

	Discovery		DCH		DCL		Non-Guarantor Subsidiaries of DCL		Other Non- Guarantor Subsidiaries of Discovery		Reclassifications  and Eliminations			Discovery and Subsidiaries
ASSETS
Current assets:
Cash and cash equivalents	$	—	$	—	$	126	$	631	$	—	$	—		$	757
Receivables, net	—		—		405		936		—		—			1,341
Content rights, net	—		—		—		307		—		—			307
Deferred income taxes	—		—		33		43		—		—			76
Prepaid expenses and other current assets	—		—		157		102		—		—			259
Intercompany trade receivables, net	—		—		313		—		—		(313		)	—
Total current assets	—		—		1,034		2,019		—		(313		)	2,740
Investment in and advances to subsidiaries	6,266		6,275		7,620		—		4,191		(24,352		)	—
Noncurrent content rights, net	—		—		628		1,274		—		—			1,902
Goodwill	—		—		3,769		3,601		—		—			7,370
Intangible assets, net	—		—		318		1,198		—		—			1,516
Equity method investments	—		—		330		750		—		—			1,080
Other noncurrent assets	—		20		174		529		—		(20		)	703
Total assets	$	6,266	$	6,295	$	13,873	$	9,371	$	4,191	$	(24,685	)	$	15,311
LIABILITIES AND EQUITY
Current liabilities:
Current portion of debt	$	—	$	—	$	6	$	12	$	—	$	—		$	18
Other current liabilities	85		8		416		726		—		—			1,235
Intercompany trade payables, net	—		—		—		313		—		(313		)	—
Total current liabilities	85		8		422		1,051		—		(313		)	1,253
Noncurrent portion of debt	—		—		6,753		147		—		—			6,900
Other noncurrent liabilities	1		—		423		515		21		(20		)	940
Total liabilities	86		8		7,598		1,713		21		(333		)	9,093
Redeemable noncontrolling interests	—		—		—		37		—		—			37
Equity attributable to Discovery Communications, Inc.	6,180		6,287		6,275		7,620		4,170		(24,352		)	6,180
Noncontrolling interests	—		—		—		1		—		—			1
Total equity	6,180		6,287		6,275		7,621		4,170		(24,352		)	6,181
Total liabilities and equity	$	6,266	$	6,295	$	13,873	$	9,371	$	4,191	$	(24,685	)	$	15,311

32

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

Condensed Consolidating Balance Sheet

December 31, 2013

(in millions)

	Discovery		DCH		DCL		Non-Guarantor Subsidiaries of DCL		Other Non- Guarantor Subsidiaries of Discovery		Reclassifications  and Eliminations			Discovery and Subsidiaries
ASSETS
Current assets:
Cash and cash equivalents	$	—	$	—	$	123	$	285	$	—	$	—		$	408
Receivables, net	—		—		449		922		—		—			1,371
Content rights, net	—		—		12		265		—		—			277
Deferred income taxes	—		—		31		42		—		—			73
Prepaid expenses and other current assets	52		—		143		86		—		—			281
Intercompany trade receivables, net	—		—		286		—		—		(286		)	—
Total current assets	52		—		1,044		1,600		—		(286		)	2,410
Investment in and advances to consolidated subsidiaries	6,147		6,155		7,135		—		4,112		(23,549		)	—
Noncurrent content rights, net	—		—		615		1,268		—		—			1,883
Goodwill	—		—		3,769		3,572		—		—			7,341
Intangible assets, net	—		—		320		1,245		—		—			1,565
Equity method investments	—		—		330		757		—		—			1,087
Other noncurrent assets	—		19		173		521		—		(20		)	693
Total assets	$	6,199	$	6,174	$	13,386	$	8,963	$	4,112	$	(23,855	)	$	14,979
LIABILITIES AND EQUITY
Current liabilities:
Current portion of debt	$	—	$	—	$	5	$	12	$	—	$	—		$	17
Other current liabilities	1		6		421		849		—		—			1,277
Intercompany trade payables, net	—		—		—		286		—		(286		)	—
Total current liabilities	1		6		426		1,147		—		(286		)	1,294
Noncurrent portion of debt	—		—		6,343		139		—		—			6,482
Other noncurrent liabilities	2		—		462		505		21		(20		)	970
Total liabilities	3		6		7,231		1,791		21		(306		)	8,746
Redeemable noncontrolling interests	—		—		—		36		—		—			36
Equity attributable to Discovery Communications, Inc.	6,196		6,168		6,155		7,135		4,091		(23,549		)	6,196
Noncontrolling interests	—		—		—		1		—		—			1
Total equity	6,196		6,168		6,155		7,136		4,091		(23,549		)	6,197
Total liabilities and equity	$	6,199	$	6,174	$	13,386	$	8,963	$	4,112	$	(23,855	)	$	14,979

33

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

Condensed Consolidating Statement of Operations

Three Months Ended March 31, 2014

(in millions)

	Discovery			DCH		DCL			Non-Guarantor Subsidiaries of DCL			Other Non- Guarantor Subsidiaries of Discovery		Reclassifications  and Eliminations			Discovery and Subsidiaries
Revenues	$	—		$	—	$	451		$	962		$	—	$	(2	)	$	1,411
Costs of revenues, excluding depreciation and amortization	—			—		111			373			—		(2		)	482
Selling, general and administrative	3			—		64			342			—		—			409
Depreciation and amortization	—			—		10			73			—		—			83
Restructuring charges	—			—		—			3			—		—			3
Total costs and expenses	3			—		185			791			—		(2		)	977
Operating (loss) income	(3		)	—		266			171			—		—			434
Equity in earnings of subsidiaries	232			232		108			—			155		(727		)	—
Interest expense	—			—		(79		)	(2		)	—		—			(81		)
Income from equity investees, net	—			—		3			10			—		—			13
Other income (expense), net	—			—		4			(21		)	—		—			(17		)
Income from continuing operations before income taxes	229			232		302			158			155		(727		)	349
Benefit from (provision for) income taxes	1			—		(70		)	(49		)	—		—			(118		)
Net income	230			232		232			109			155		(727		)	231
Net income attributable to redeemable noncontrolling interests	—			—		—			—			—		(1		)	(1		)
Net income available to Discovery Communications, Inc.	$	230		$	232	$	232		$	109		$	155	$	(728	)	$	230

34

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

Condensed Consolidating Statement of Operations

Three Months Ended March 31, 2013

(in millions)

	Discovery			DCH		DCL			Non-Guarantor Subsidiaries of DCL			Other Non- Guarantor Subsidiaries of Discovery		Reclassifications  and Eliminations			Discovery and Subsidiaries
Revenues	$	—		$	—	$	443		$	718		$	—	$	(5	)	$	1,156
Costs of revenues, excluding depreciation and amortization	—			—		110			236			—		(4		)	342
Selling, general and administrative	3			—		72			291			—		(1		)	365
Depreciation and amortization	—			—		9			23			—		—			32
Restructuring charges	—			—		—			1			—		—			1
Total costs and expenses	3			—		191			551			—		(5		)	740
Operating (loss) income	(3		)	—		252			167			—		—			416
Equity in earnings of subsidiaries	233			233		157			—			155		(778		)	—
Interest expense	—			—		(67		)	(1		)	—		—			(68		)
Losses from equity investees, net	—			—		—			(2		)	—		—			(2		)
Other (expense) income, net	—			—		(59		)	90			—		—			31
Income from continuing operations before income taxes	230			233		283			254			155		(778		)	377
Benefit from (provision for) income taxes	1			—		(50		)	(97		)	—		—			(146		)
Net income available to Discovery Communications, Inc.	$	231		$	233	$	233		$	157		$	155	$	(778	)	$	231

35

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

Condensed Consolidating Statement of Comprehensive Income

Three Months Ended March 31, 2014

(in millions)

	Discovery			DCH			DCL			Non-Guarantor Subsidiaries of DCL			Other Non- Guarantor Subsidiaries of Discovery			Reclassifications  and Eliminations			Discovery and Subsidiaries
Net income	$	230		$	232		$	232		$	109		$	155		$	(727	)	$	231
Other comprehensive income (loss), net of tax:
Currency translation adjustments	1			1			1			3			1			(6		)	1
Derivative and market value adjustments	(1		)	(1		)	(1		)	(1		)	(1		)	4			(1		)
Comprehensive income	230			232			232			111			155			(729		)	231
Comprehensive income attributable to redeemable noncontrolling interests	—			—			—			—			—			(1		)	(1		)
Comprehensive income attributable to Discovery Communications, Inc.	$	230		$	232		$	232		$	111		$	155		$	(730	)	$	230

36

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

Condensed Consolidating Statement of Comprehensive Income

Three Months Ended March 31, 2013

(in millions)

	Discovery			DCH			DCL			Non-Guarantor Subsidiaries of DCL			Other Non- Guarantor Subsidiaries of Discovery			Reclassifications  and Eliminations			Discovery and Subsidiaries
Net income	$	231		$	233		$	233		$	157		$	155		$	(778	)	$	231
Other comprehensive (loss) income, net of tax:
Currency translation adjustments	(59		)	(59		)	(59		)	(59		)	(39		)	216			(59		)
Derivative and market value adjustments	4			4			4			1			3			(12		)	4
Comprehensive income attributable to Discovery Communications, Inc.	$	176		$	178		$	178		$	99		$	119		$	(574	)	$	176

37

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

Condensed Consolidating Statement of Cash Flows

Three Months Ended March 31, 2014

(in millions)

	Discovery			DCH			DCL			Non-Guarantor Subsidiaries of DCL			Other Non- Guarantor Subsidiaries of Discovery		Reclassifications  and Eliminations		Discovery and Subsidiaries
Operating Activities
Cash provided by operating activities	$	133		$	2		$	24		$	82		$	—	$	—	$	241
Investing Activities
Purchases of property and equipment	—			—			(7		)	(21		)	—		—		(28		)
Business acquisitions, net of cash acquired	—			—			—			(17		)	—		—		(17		)
Distributions from equity method investees	—			—			—			16			—		—		16
Returns from equity method investees, net	—			—			—			1			—		—		1
Cash used in investing activities	—			—			(7		)	(21		)	—		—		(28		)
Financing Activities
Borrowings from debt, net of discount and issuance costs	—			—			412			—			—		—		412
Principal repayments of capital lease obligations	—			—			(1		)	(3		)	—		—		(4		)
Repurchases of common stock	(266		)	—			—			—			—		—		(266		)
Cash proceeds from equity-based plans, net	(1		)	—			—			1			—		—		—
Inter-company contributions and other financing activities, net	134			(2		)	(425		)	291			—		—		(2		)
Cash (used in) provided by financing activities	(133		)	(2		)	(14		)	289			—		—		140
Effect of exchange rate changes on cash and cash equivalents	—			—			—			(4		)	—		—		(4		)
Net change in cash and cash equivalents	—			—			3			346			—		—		349
Cash and cash equivalents, beginning of period	—			—			123			285			—		—		408
Cash and cash equivalents, end of period	$	—		$	—		$	126		$	631		$	—	$	—	$	757

38

DISCOVERY COMMUNICATIONS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(unaudited)

Condensed Consolidating Statement of Cash Flows

Three Months Ended March 31, 2013

(in millions)

	Discovery			DCH			DCL			Non-Guarantor Subsidiaries of DCL			Other Non- Guarantor Subsidiaries of Discovery		Reclassifications  and Eliminations		Discovery and Subsidiaries
Operating Activities
Cash (used in) provided by operating activities	$	(72	)	$	7		$	83		$	113		$	—	$	—	$	131
Investing Activities
Purchases of property and equipment	—			—			(11		)	(15		)	—		—		(26		)
Business acquisition, net of cash acquired	—			—			—			(60		)	—		—		(60		)
Hedging instruments, net	—			—			(39		)	—			—		—		(39		)
Investments in and advances to equity method investees	—			—			—			(25		)	—		—		(25		)
Cash used in investing activities	—			—			(50		)	(100		)	—		—		(150		)
Financing Activities
Borrowings from debt, net of discount and issuance costs	—			—			1,186			—			—		—		1,186
Principal repayments of capital lease obligations	—			—			(2		)	(9		)	—		—		(11		)
Cash proceeds from equity-based plans, net	7			—			—			—			—		—		7
Inter-company contributions and other financing activities, net	65			(7		)	(48		)	(10		)	—		—		—
Cash provided (used in) by financing activities	72			(7		)	1,136			(19		)	—		—		1,182
Effect of exchange rate changes on cash and cash equivalents	—			—			—			(4		)	—		—		(4		)
Net change in cash and cash equivalents	—			—			1,169			(10		)	—		—		1,159
Cash and cash equivalents, beginning of period	—			—			1,022			179			—		—		1,201
Cash and cash equivalents, end of period	$	—		$	—		$	2,191		$	169		$	—	$	—	$	2,360

39

ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations.

Management’s discussion and analysis of financial condition and results of operations is a supplement to and should be read in conjunction with the accompanying consolidated financial statements and related notes. This section provides additional information regarding Discovery Communications, Inc.’s (“Discovery,” “Company,” “we,” “us,” or “our”) businesses, current developments, results of operations, cash flows and financial condition. Additional context can also be found in the 2013 Form 10-K.

CAUTIONARY NOTE CONCERNING FORWARD-LOOKING STATEMENTS

Certain statements in this Quarterly Report on Form 10-Q constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our business, marketing and operating strategies, integration of acquired businesses, new service offerings, financial prospects, and anticipated sources and uses of capital. Words such as “anticipates,” “estimates,” “expects,” “projects,” “intends,” “plans,” “believes,” and words and terms of similar substance used in connection with any discussion of future operating or financial performance identify forward-looking statements. Where, in any forward-looking statement, we express an expectation or belief as to future results or events, such expectation or belief is expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the expectation or belief will result or be accomplished. The following is a list of some, but not all, of the factors that could cause actual results or events to differ materially from those anticipated: the inability of advertisers or affiliates to remit payment to us in a timely manner or at all; general economic and business conditions; industry trends, including the timing of, and spending on, feature film, television and television commercial production; spending on domestic and foreign television advertising; disagreements with our distributors over contract interpretation; market demand for foreign first-run and existing content libraries; the regulatory and competitive environment of the industries in which we, and the entities in which we have interests, operate; continued consolidation of distribution and production companies; uncertainties inherent in the development of new business lines and business strategies; uncertainties regarding the financial performance of our equity method investees; integration of acquired businesses; uncertainties associated with product and service development and market acceptance, including the development and provision of programming for new television and telecommunications technologies; changes in the distribution and viewing of television programming, including the expanded deployment of personal video recorders, video on demand (“VOD”), internet protocol television, mobile personal devices and personal tablets and their impact on television advertising revenue; rapid technological changes; future financial performance, including availability, terms, and deployment of capital; fluctuations in foreign currency exchange rates and political unrest in international markets; the ability of suppliers and vendors to deliver products, equipment, software, and services; the outcome of any pending or threatened litigation; availability of qualified personnel; the possibility or duration of an industry-wide strike or other job action affecting a major entertainment industry union; changes in, or failure or inability to comply with, government regulations, including, without limitation, regulations of the Federal Communications Commission and adverse outcomes from regulatory proceedings; changes in income taxes due to regulatory changes or changes in our corporate structure; changes in the nature of key strategic relationships with partners, distributors and equity method investee partners; competitor responses to our products and services and the products and services of the entities in which we have interests; threatened terrorist attacks and military action; reduced access to capital markets or significant increases in costs to borrow; a failure to secure affiliate agreements or renewal of such agreements on less favorable terms; and a reduction of advertising revenue associated with unexpected reductions in the number of subscribers. For additional risk factors, refer to Item 1A, “Risk Factors,” in the 2013 Form 10-K. These forward-looking statements and such risks, uncertainties, and other factors speak only as of the date of this Quarterly Report, and we expressly disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein, to reflect any change in our expectations with regard thereto, or any other change in events, conditions or circumstances on which any such statement is based.

BUSINESS OVERVIEW

We are a global media company that provides content across multiple distribution platforms, including digital distribution arrangements, throughout the world. Our global portfolio of networks includes prominent television brands such as Discovery Channel, our most widely distributed global brand, TLC and Animal Planet. We also have a diversified portfolio of web-native networks and sell curriculum-based educational products and services.

Our objectives are to invest in content for our networks to build viewership, optimize distribution revenue, capture advertising sales, and create or reposition branded channels and businesses that can sustain long-term growth and occupy a desired content niche with strong consumer appeal. Our strategy is to maximize the distribution, ratings and profit potential of each of our branded networks. In addition to growing distribution and advertising revenues for our branded networks, we are extending content distribution across new platforms, including brand-aligned websites, on-line streaming, mobile devices, VOD and broadband channels, which provide promotional platforms for our television content and serve as additional outlets for

40

advertising and distribution revenue. Audience ratings are a key driver in generating advertising revenue and creating demand on the part of cable television operators, direct-to-home ("DTH") satellite operators, telecommunication service providers, and other content distributors who deliver our content to their customers.

Our content spans genres including science, exploration, survival, natural history, technology, docu-series, anthropology, heroes, paleontology, history, space, archeology, health and wellness, engineering, adventure, lifestyles, crime and investigation, civilizations, current events and kids. We have an extensive library of content and own most rights to our content and footage, which enables us to exploit our library to launch brands and services into new markets quickly. Our content can be re-edited and updated in a cost-effective manner to provide topical versions of subject matter that can be utilized around the world. Substantially all of our content is produced in high definition (“HD”) format.

We classify our operations in three reporting segments: U.S. Networks, consisting principally of domestic television networks and websites; International Networks, consisting primarily of international television networks and websites; and Education, consisting principally of curriculum-based product and service offerings.

U.S. Networks

U.S. Networks generated revenues of $708 million during the three months ended March 31, 2014, which represented 50% of our total consolidated revenues. Our U.S. Networks segment principally consists of national television networks. Our U.S. Networks segment wholly owns and operates nine national television networks, including Discovery Channel, TLC, Animal Planet, Investigation Discovery, and Science. In addition, this segment holds equity method interests in OWN and the Hub Network.

U.S. Networks generates revenues from fees charged to distributors of our television networks’ content, which include cable, DTH satellite and telecommunication service providers, referred to as affiliate fees; fees from digital distributors, which relate to bulk content distribution agreements; and from advertising sold on our television networks and websites. U.S. Networks also generates income by providing sales representation and network distribution services to equity method investee networks and licensing our brands for consumer products.

Typically, our television networks are aired pursuant to multi-year carriage agreements that provide for the level of carriage that our networks will receive, and if applicable, for annual graduated rate increases. Carriage of our networks depends on channel placement and package inclusion, such as whether networks are on the more widely distributed, broader packages or lesser-distributed, specialized packages, also referred to as digital tiers.

Advertising revenue is based on the price received for available advertising spots and is dependent upon a number of factors including the number of subscribers to our channels, viewership demographics, the popularity of our programming, and our ability to sell commercial time over a group of channels. In the U.S., advertising time is sold in the upfront and scatter markets. In the upfront market, advertisers buy advertising time for upcoming seasons, and by committing to purchase in advance, lock in the advertising rates they will pay for the upcoming year. A portion of many upfront advertising commitments include options whereby advertisers may reduce purchase commitments. In the scatter market, advertisers buy advertising time when the commercials will be run, which often results in a pricing premium compared to the upfront rates. The mix of upfront and scatter market advertising time sold is based upon a number of factors, such as pricing, demand for advertising time and economic conditions.

During the three months ended March 31, 2014, distribution, advertising and other revenues were 45%, 53% and 2%, respectively, of total revenues for this segment. Discovery Channel, TLC and Animal Planet, collectively, generated 63% of U.S. Networks’ total revenues for the three months ended March 31, 2014.

U.S. Networks’ largest single cost is content expense, which includes content amortization, content impairments and production costs. U.S. Networks amortizes the cost of capitalized content rights based on the proportion of current estimated revenues relative to the estimated remaining total lifetime revenues, which results in either an accelerated method or a straight-line method of amortization over the estimated useful lives of the content of up to five years. Most of U.S. Networks' content is amortized using an accelerated amortization method.

International Networks

International Networks generated revenues of $671 million during the three months ended March 31, 2014, which represented 48% of our total consolidated revenues. Our International Networks segment principally consists of national and pan-regional television networks. This segment generates revenue from operations in virtually every pay-television market in the world through operational centers in London, Singapore and Miami. Discovery Channel, Animal Planet, TLC, Investigation Discovery, and Science Channel lead the International Networks' portfolio of television networks. International Networks has a large international distribution platform for its networks with as many as 15 networks in more than 220 countries and territories

41

around the world. At March 31, 2014, International Networks operated over 250 unique distribution feeds in over 40 languages with channel feeds customized according to language needs and advertising sales opportunities. International Networks also operates free-to-air networks in Europe and the Middle East, broadcast networks in the Nordics and continues to pursue further international expansion. The penetration and growth rates of pay television services varies across the 220 countries and territories depending on the dominance of different television platforms in local markets. While pay television services have greater penetration in certain markets, free-to-air or broadcast television are dominant in others. International Networks pursues distribution across all television platforms based on the specific dynamics of local markets and relevant commercial agreements.

Similar to U.S. Networks, the primary sources of revenue for International Networks are fees charged to operators who distribute our networks, which primarily include cable and DTH satellite service providers, and advertising sold on our television networks. International television markets vary in their stages of development. Some markets, such as the U.K., are more advanced digital television markets, while others remain in the analog environment with varying degrees of investment from operators to expand channel capacity or convert to digital technologies. Common practice in some markets results in long-term contractual distribution relationships, while customers in other markets renew contracts annually. Distribution revenue for our International Networks segment is largely dependent on the number of subscribers that receive our networks or content, the rates negotiated in the agreements, and the market demand for the content that we provide.

Advertising revenue is dependent upon a number of factors including the development of pay and free-to-air television markets, the number of subscribers to and viewers of our channels, viewership demographics, the popularity of our programming, and our ability to sell commercial time over a group of channels. In certain markets, our advertising sales business operates with in-house sales teams, while we rely on external sales representation services in other markets. In developing television markets, we expect that advertising revenue growth will result from continued subscriber growth, our localization strategy, and the shift of advertising spending from traditional broadcast networks to channels in the multi-channel environment. In relatively mature markets, such as Western Europe, growth in advertising revenue will come from increasing viewership and pricing of advertising on our existing television networks and the launching of new services, both organic and through acquisitions. During the three months ended March 31, 2014, distribution, advertising and other revenues were 50%, 47% and 3%, respectively, of total net revenues for this segment.

International Networks’ largest cost is content expense. International Networks executes a localization strategy by offering programming from U.S. Networks, customized content and localized schedules via our distribution feeds. While our International Networks segment maximizes the use of programming from U.S. Networks, we also develop local programming that is tailored to individual market preferences. International Networks amortizes the cost of capitalized content rights based on the proportion of current estimated revenues relative to the estimated remaining total lifetime revenues, which results in either an accelerated method or a straight-line method over the estimated useful lives of the content of up to five years. Most of International Networks' content is amortized using an accelerated amortization method.

On February 28, 2014, we acquired a factual entertainment production company in the U.K that will improve the sourcing of content for our networks.

On January 21, 2014, we entered into an agreement with TF1 to acquire a controlling interest in Eurosport International ("Eurosport"), a leading pan-European sports media platform, by increasing our ownership stake from 20% to 51% for cash of approximately €253 million ($343 million) subject to working capital adjustments. The Company expects the acquisition to close in the second quarter of 2014 subject to the receipt of necessary regulatory approvals. Due to regulatory constraints, the acquisition initially excludes Eurosport France, a subsidiary of Eurosport. We will retain a 20% equity interest in Eurosport France and a commitment to acquire another 31% ownership interest beginning in 2015, contingent upon resolution of all regulatory matters. The flagship Eurosport network focuses on regionally popular sports such as tennis, skiing, cycling and motor sports and reaches 133 million homes across 54 countries in 20 languages. Eurosport’s brands and platforms also include Eurosport HD (high definition simulcast), Eurosport 2, Eurosport 2 HD (high definition simulcast), Eurosport Asia-Pacific, and Eurosportnews. The acquisition is intended to increase the growth of Eurosport and enhance our pay television offerings in Europe. TF1 will have the right to put the entirety of its remaining 49% non-controlling interest to the Company during two windows for two and a half years after completion of this acquisition. If the put is exercised during the first 90 day window beginning July 1, 2015, it has a floor value equal to the fair value per share of Eurosport on the closing date of the Company's acquisition of the controlling interest. If the put is exercised during the second 90 day window beginning July 1, 2016, it is priced at the then-current fair value per share of Eurosport, or as may be agreed between the Company and TF1.

On April 9, 2013, we acquired the television and radio operations of SBS Nordic from Prosiebensat.1 Media AG for cash of approximately €1.4 billion ($1.8 billion), including closing purchase price adjustments.

On January 10, 2013, we purchased an additional 30% ownership interest in Discovery Japan, which was previously a 50% owned equity method investee. As a result, we now have a controlling financial interest in Discovery Japan and account

42

for it as a consolidated subsidiary. We recognized a $92 million gain upon consolidation for the difference in the carrying value and the fair value of the previously held equity interest.

These acquisitions have been included in our operating results since the acquisition date. (See Note 2 to the accompanying consolidated financial statements.)

Education

Education generated revenues of $32 million during the three months ended March 31, 2014, which represented 2% of our total consolidated revenues for the three months ended March 31, 2014. Our Education segment is comprised of educational curriculum-based product and service offerings. This segment generates revenues primarily from subscriptions charged to K-12 schools for access to an on-line suite of curriculum-based VOD tools, professional development services and digital textbooks. Our education business also participates in global brand and content licensing and engages in partnerships with leading non-profits, corporations, foundations and trade associations.

On November 1, 2013, we acquired an education business in the U.K. that will complement our existing service offerings and expand our operations internationally. (See Note 2 to the accompanying consolidated financial statements.)

43

RESULTS OF OPERATIONS

Items Impacting Comparability

On April 9, 2013, we acquired SBS Nordic (see Note 2 to the accompanying consolidated financial statements). We included the operations of SBS Nordic in our consolidated financial statements as of the acquisition date. As a result, the acquisition of SBS Nordic impacted the comparability of our results of operations between the three months ended March 31, 2014 and 2013. Accordingly, to assist the reader in understanding the changes in our results of operations, the following tables present the calculation of comparative Adjusted OIBDA excluding SBS Nordic, as reported within our consolidated financial statements and International Networks segment for the three months ended March 31, 2014 (in millions). The comparability of the results of other segments was not impacted by this acquisition. Other acquisitions did not have a material effect on the comparability of results for the periods presented. Adjusted OIBDA is defined and a reconciliation to operating income is presented in the Segment Results of Operations section.

Consolidated	Three Months Ended March 31,
	2014		2014		2014		2013
	Total Company As Reported		SBS Nordic		Total Company Ex- SBS Nordic		Total Company As Reported		% Change Ex-SBS Nordic
Revenues:
Distribution	$	657	$	46	$	611	$	583	5	%
Advertising	689		128		561		508		10	%
Other	65		5		60		65		(8	)%
Total Revenues	$	1,411	$	179	$	1,232	$	1,156	7	%
Adjusted OIBDA	$	525	$	19	$	506	$	500	1	%

International Networks	Three Months Ended March 31,
	2014		2014		2014		2013
	International Networks As Reported		SBS Nordic		International Networks Ex- SBS Nordic		International Networks As Reported		% Change Ex-SBS Nordic
Revenues:
Distribution	$	338	$	46	$	292	$	275	6	%
Advertising	316		128		188		152		24	%
Other	17		5		12		17		(29	)%
Total Revenues	$	671	$	179	$	492	$	444	11	%
Adjusted OIBDA	$	221	$	19	$	202	$	187	8	%

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Consolidated Results of Operations

The table below presents our consolidated results of operations (in millions).

	Three Months Ended March 31,
	2014			2013			% Change
Revenues:
Distribution	$	657		$	583		13	%
Advertising	689			508			36	%
Other	65			65			—	%
Total revenues	1,411			1,156			22	%
Costs of revenues, excluding depreciation and amortization	482			342			41	%
Selling, general and administrative	409			365			12	%
Depreciation and amortization	83			32			NM
Restructuring charges	3			1			NM
Total costs and expenses	977			740			32	%
Operating income	434			416			4	%
Interest expense	(81		)	(68		)	19	%
Income (loss) from equity method investees, net	13			(2		)	NM
Other (expense) income, net	(17		)	31			NM
Income from continuing operations before income taxes	349			377			(7	)%
Provision for income taxes	(118		)	(146		)	(19	)%
Net income	231			231			—	%
Net income attributable to redeemable noncontrolling interests	(1		)	—			NM
Net income available to Discovery Communications, Inc.	$	230		$	231		—	%

NM - Not meaningful

Revenues

Distribution revenue includes affiliate fees and digital distribution revenue and is largely dependent on the rates negotiated in our distribution agreements, the number of subscribers that receive our networks or content, and the market demand for the content that we provide. Excluding the impact of foreign currency fluctuations and the acquisition of SBS Nordic, consolidated distribution revenue increased7%, or $39 million, for the three months ended March 31, 2014, as a result of increases of $11 million and $28 million for the three months ended March 31, 2014, at our U.S. Networks and International Networks segments, respectively. The increase in distribution revenue at U.S. Networks, excluding the impact of digital distribution revenue, for the three months ended March 31, 2014 was 6%. Digital distribution revenue, which is earned under agreements to license programs, is recognized when the content has been delivered and is available for use by the customer. Digital distribution revenue is therefore prone to quarterly fluctuations based on the timing and volume of content deliveries. The increase in the International Networks' distribution revenue, excluding the impact of foreign currency and the acquisition of SBS Nordic, was attributable to revenue growth in Latin America and to a lesser extent, to growth in Central and Eastern Europe, the Middle East, and Africa ("CEEMEA"), which both experienced increases in subscribers and rates.

Advertising revenue is dependent upon a number of factors, including the stage of development of television markets, the number of subscribers to our channels, viewership demographics, the popularity of our content, our ability to sell commercial time over a group of channels, and the mix of sales of commercial time between the upfront and scatter markets, which is based upon a number of factors, such as pricing, demand for advertising time and economic conditions. Excluding the impact of foreign currency fluctuations and the acquisition of SBS Nordic, consolidated advertising revenue increased10%, or $52 million, for the three months ended March 31, 2014, as a result of increases of $17 million and $35 million for the three months ended March 31, 2014, at our U.S. Networks and International Networks segments, respectively. For our U.S. Networks segment, the increase was primarily due to increased pricing. For our International Networks segment, most of the increase was due to increases in pricing and ratings on our free-to-air networks in Western Europe, and to a lesser extent, to improved delivery in Latin America and pricing in CEEMEA and the Nordics, in equivalent amounts.

Excluding the impacts of foreign currency fluctuations and the acquisition of SBS Nordic, other revenue for the three months ended March 31, 2014 was consistent with the prior year.

45

Costs of Revenues

Excluding the impacts of foreign currency fluctuations and the acquisition of SBS Nordic, costs of revenues increased8%, or $27 million, for the three months ended March 31, 2014. The increase was the result of increases of $4 million and $20 million, at our U.S. Networks and International Networks segments, respectively. The increase in costs of revenues was primarily due to an increase in content expense, which is consistent with our commitment to content development, and accelerated amortization from the increased use of U.S. Networks' content by International Networks and content acquisition for international free-to-air networks and channel launches.

Selling, General and Administrative

Selling, general and administrative expenses consist principally of employee costs, marketing costs, research costs, occupancy and back office support fees. Excluding the impact of foreign currency fluctuations and the acquisition of SBS Nordic, selling, general and administrative expenses decreased2%, or $8 million, for the three months ended March 31, 2014. The decrease in selling, general and administrative expenses was primarily due to a decrease in mark-to-market equity-based compensation, partially offset by increased marketing expenses and personnel costs in equivalent amounts.

Depreciation and Amortization

Depreciation and amortization expense includes depreciation of fixed assets and amortization of finite-lived intangible assets. Depreciation and amortization expense increased $51 million for the three months ended March 31, 2014. The increase was due to the amortization of intangible assets related to business combinations during 2013. (See Note 2 to the accompanying consolidated financial statements.)

Restructuring Charges

Restructuring charges increased $2 million for the three months ended March 31, 2014. The increase is primarily due to charges related to employee terminations.

Interest Expense

Interest expense increased $13 million for the three months ended March 31, 2014 due to an increase in outstanding debt.

Income (Loss) from Equity Investees, Net

Income from our equity method investees increased $15 million for the three months ended March 31, 2014 primarily due to improved operating results at OWN.

Other (Expense) Income, Net

The table below presents the details of other (expense) income, net (in millions).

	Three Months Ended March 31,
	2014			2013
Foreign currency losses, net	$	(11	)	$	(2	)
Loss on derivative instruments	(7		)	(59		)
Remeasurement gain on previously held equity interest	—			92
Other income, net	1			—
Total other (expense) income, net	$	(17	)	$	31

Other (expense) income, net, decreased $48 million for the three months ended March 31, 2014, primarily due to the $92 million remeasurement gain related to the acquisition of Discovery Japan and the $59 million derivative loss on hedging the purchase price of SBS Nordic recorded in 2013. The $9 million increase in foreign currency losses, net for the three months ended March 31, 2014 was primarily attributable to a remeasurement loss on cash and accounts receivable held in Venezuelan bolivars due to changes in Venezuela's currency exchange mechanisms (see Item 3, Quantitative and Qualitative Disclosures About Market Risk in this Quarterly Report on Form 10-Q).

46

Provision for Income Taxes

The following table reconciles the Company's effective income tax rate to the U.S. federal statutory income tax rate of 35%.

	Three Months Ended March 31,
	2014		2013
U.S. federal statutory income tax rate	35	%	35	%
State and local income taxes, net of federal tax benefit	3	%	3	%
Effect of foreign operations	(1	)%	1	%
Domestic production activity deductions	(3	)%	1	%
Change in uncertain tax positions	(2	)%	—	%
Remeasurement gain on previously held equity interest	—	%	(2	)%
Other, net	2	%	1	%
Effective income tax rate	34	%	39	%

Our provisions for income taxes on income from continuing operations were $118 million and $146 million, and the effective tax rates were 34% and 39% for the three months ended March 31, 2014 and 2013, respectively. The net 5% decrease in the effective tax rate was primarily due to a 4% decrease related to the domestic production activities deduction following certain legislative changes in 2013, a 2% decrease due to the tax effect of inter-company transactions subject to foreign income tax rates that vary compared with U.S. rates, as well as an additional 2% decrease attributable to reductions in our unrecognized tax benefits reserve for tax positions in prior years. These decreases were partially offset by an increase of 2% in the tax rate due to the $92 million remeasurement gain on previously held equity interest in Discovery Japan recognized upon consolidation in 2013 which was not taxable because we intend to defer indefinitely the realization of this gain for tax purposes. (See Note 11 to the accompanying consolidated financial statements.)

Segment Results of Operations

We evaluate the operating performance of our segments based on financial measures such as revenues and adjusted operating income before depreciation and amortization (“Adjusted OIBDA”). Adjusted OIBDA is defined as revenues less costs of revenues and selling, general and administrative expenses excluding: (i) mark-to-market equity-based compensation, (ii) depreciation and amortization, (iii) amortization of deferred launch incentives, (iv) exit and restructuring charges, (v) certain impairment charges, and (vi) gains and losses on business and asset dispositions. We use this measure to assess the operating results and performance of our segments, perform analytical comparisons, identify strategies to improve performance, and allocate resources to each segment. We believe Adjusted OIBDA is relevant to investors because it allows them to analyze the operating performance of each segment using the same metric management uses. We exclude mark-to-market equity-based compensation, exit and restructuring charges, certain impairment charges, and gains and losses on business and asset dispositions from the calculation of Adjusted OIBDA due to their volatility. We also exclude the depreciation of fixed assets, and amortization of intangible assets and deferred launch incentives as these amounts do not represent cash payments in the current reporting period. Adjusted OIBDA should be considered in addition to, but not a substitute for, operating income, net income, cash flows provided by operating activities and other measures of financial performance reported in accordance with GAAP.

Additionally, certain corporate expenses are excluded from segment results to enable executive management to evaluate segment performance based upon the decisions of segment executives. Additional financial information for our reportable segments is set forth in Note 16 to the accompanying consolidated financial statements.

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The table below presents the calculation of total Adjusted OIBDA (in millions).

	Three Months Ended March 31,
	2014			2013			% Change
Revenue:
U.S. Networks	$	708		$	686		3	%
International Networks	671			444			51	%
Education	32			27			19	%
Corporate and inter-segment eliminations	—			(1		)	(100	)%
Total revenue	1,411			1,156			22	%
Costs of revenues, excluding depreciation and amortization	(482		)	(342		)	41	%
Selling, general and administrative(a)	(406		)	(319		)	27	%
Add: Amortization of deferred launch incentives(b)	2			5			(60	)%
Adjusted OIBDA	$	525		$	500		5	%

^(a) Selling, general and administrative expenses exclude mark-to-market equity-based compensation, restructuring charges and gains (losses) on dispositions.

^(b) Amortization of deferred launch incentives is included as a reduction of distribution revenue for reporting in accordance with GAAP but is excluded from Adjusted OIBDA.

The table below presents our Adjusted OIBDA by segment, with a reconciliation of total Adjusted OIBDA to consolidated operating income (in millions).

	Three Months Ended March 31,
	2014			2013			% Change
Adjusted OIBDA:
U.S. Networks	$	383		$	377		2	%
International Networks	221			187			18	%
Education	6			7			(14	)%
Corporate and inter-segment eliminations	(85		)	(71		)	20	%
Total Adjusted OIBDA	525			500			5	%
Amortization of deferred launch incentives	(2		)	(5		)	(60	)%
Mark-to-market equity-based compensation	(3		)	(46		)	(93	)%
Depreciation and amortization	(83		)	(32		)	NM
Restructuring charges	(3		)	(1		)	NM
Operating income	$	434		$	416		4	%

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U.S. Networks

The table below presents our U.S. Networks segment revenues by type, certain operating expenses, contra revenue amounts, Adjusted OIBDA and a reconciliation of Adjusted OIBDA to operating income (in millions).

	Three Months Ended March 31,
	2014			2013			% Change
Revenues:
Distribution	$	319		$	308		4	%
Advertising	373			356			5	%
Other	16			22			(27	)%
Total revenues	708			686			3	%
Costs of revenues, excluding depreciation and amortization	(193		)	(189		)	2	%
Selling, general and administrative	(132		)	(122		)	8	%
Add: Amortization of deferred launch incentives	—			2			(100	)%
Adjusted OIBDA	383			377			2	%
Amortization of deferred launch incentives	—			(2		)	(100	)%
Depreciation and amortization	(3		)	(3		)	—	%
Restructuring charges	(1		)	(1		)	—	%
Operating income	$	379		$	371		2	%

Revenues

Distribution revenue for the three months ended March 31, 2014 increased $11 million. The increase in distribution revenue, excluding the impact of digital distribution revenue, was 6%. The increase in distribution revenue excluding digital distribution revenue was primarily due to annual contractual rate increases. The subscriber base for the U.S. pay television distribution market has remained relatively flat over recent periods. Digital distribution revenue, which is earned under agreements to license selected library titles, is recognized when the content has been delivered and is available for use by the customer. Digital distribution revenue is therefore prone to quarterly fluctuations based on the timing and volume of content deliveries. A decline in digital distribution revenue offset the increase in total distribution revenue by 2%.

Advertising revenue for the three months ended March 31, 2014 increased $17 million. The increase was primarily attributable to increases in pricing.

Other revenue decreased $6 million for the three months ended March 31, 2014. The decrease was primarily attributable to a decrease in content production contracts.

Costs of Revenues

Costs of revenues for the three months ended March 31, 2014 increased $4 million. The increase was primarily attributable to an increase in content expense, which is consistent with our commitment to content development, partially offset by decreases in sales commissions.

Selling, General and Administrative

Selling, general and administrative expenses for the three months ended March 31, 2014 increased $10 million. The increase was primarily attributable to increased marketing expenses for the tent pole event special, Klondike.

Adjusted OIBDA

Adjusted OIBDA for the three months ended March 31, 2014 increased $6 million. Revenue increased due to increased pricing with advertisers and contractual rate increases with our distributors. These increases were partially offset by higher costs of revenues and selling, general and administrative expenses.

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International Networks

The table below presents our International Networks segment revenues by type, certain operating expenses, contra revenue amounts, Adjusted OIBDA and a reconciliation of Adjusted OIBDA to operating income (in millions).

	Three Months Ended March 31,
	2014			2013			% Change
Revenues:
Distribution	$	338		$	275		23	%
Advertising	316			152			NM
Other	17			17			—	%
Total revenues	671			444			51	%
Costs of revenues, excluding depreciation and amortization	(280		)	(147		)	90	%
Selling, general and administrative	(172		)	(113		)	52	%
Add: Amortization of deferred launch incentives	2			3			(33	)%
Adjusted OIBDA	221			187			18	%
Amortization of deferred launch incentives	(2		)	(3		)	(33	)%
Depreciation and amortization	(64		)	(15		)	NM
Restructuring charges	(1		)	—			NM
Operating income	$	154		$	169		(9	)%

Revenues

Excluding the impact of foreign currency fluctuations and the acquisition of SBS Nordic, distribution revenue increased10%, or $28 million, for the three months ended March 31, 2014. The increase was mostly attributable to revenue growth in Latin America, and to a lesser extent, to growth in CEEMEA. The growth in Latin America and CEEMEA was due to increases in subscribers and affiliate rates, which is consistent with the continued development of the pay television market in those regions.

Excluding the impact of foreign currency fluctuations and the acquisition of SBS Nordic, advertising revenue increased23%, or $35 million, for the three months ended March 31, 2014. The increase was mostly due to improved pricing and ratings on our free-to-air networks in Western Europe, and to a lesser extent, to improved delivery in Latin America and pricing in CEEMEA and the Nordics, in equivalent amounts.

Excluding the impact of foreign currency fluctuations and the acquisition of SBS Nordic, other revenue decreased29%, or $5 million, for the three months ended March 31, 2014. The decrease for the three months ended March 31, 2014 was mostly attributable to a decrease in content production contracts.

Costs of Revenues

Excluding the impact of foreign currency fluctuations and the acquisition of SBS Nordic, costs of revenues increased13%, or $20 million, for the three months ended March 31, 2014. The increase was primarily attributable to the increased use of U.S. Networks' content, content for new channel launches and acquisitions for free-to-air networks and channel launches.

Selling, General and Administrative

Excluding the impact of foreign currency fluctuations and the acquisition of SBS Nordic, selling, general and administrative expenses increased6%, or $7 million, for the three months ended March 31, 2014. The increase was attributable to increased personnel costs due to a transition of certain activities from regional hubs to various international locations and marketing expenses in equivalent amounts.

Adjusted OIBDA

Excluding the impact of foreign currency fluctuations and the acquisition of SBS Nordic, Adjusted OIBDA increased18%, or $31 million, for the three months ended March 31, 2014. The increase was due to increases in advertising revenue on our free-to-air networks in Western Europe and distribution revenue growth in Latin America and CEEMEA, partially offset by higher content expense, marketing expenses and personnel costs.

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Education

The following table presents our Education segment revenues, certain operating expenses, Adjusted OIBDA and a reconciliation of Adjusted OIBDA to operating income (in millions).

	Three Months Ended March 31,
	2014			2013			% Change
Revenues	$	32		$	27		19	%
Costs of revenues, excluding depreciation and amortization	(8		)	(7		)	14	%
Selling, general and administrative	(18		)	(13		)	38	%
Adjusted OIBDA	6			7			(14	)%
Depreciation and amortization	(2		)	(1		)	100	%
Restructuring charges	(1		)	—			NM
Operating income	$	3		$	6		(50	)%

Adjusted OIBDA for the three months ended March 31, 2014 was consistent with the prior year. Revenue and selling, general and administrative expenses increased due to a business combination that occurred in late 2013.

Corporate and Inter-segment Eliminations

The following table presents our unallocated corporate amounts including certain operating expenses, Adjusted OIBDA and a reconciliation of Adjusted OIBDA to operating loss (in millions).

	Three Months Ended March 31,
	2014			2013			% Change
Revenues	$	—		$	(1	)	(100	)%
Costs of revenues, excluding depreciation and amortization	(1		)	1			NM
Selling, general and administrative	(84		)	(71		)	18	%
Adjusted OIBDA	(85		)	(71		)	20	%
Mark-to-market equity-based compensation	(3		)	(46		)	(93	)%
Depreciation and amortization	(14		)	(13		)	8	%
Operating loss	$	(102	)	$	(130	)	(22	)%

Corporate operations primarily consist of executive management, administrative support services and substantially all of our equity-based compensation.

Adjusted OIBDA decreased $14 million for three months ended March 31, 2014 mostly due to increases in personnel costs, including acceleration of equity-based compensation expense, and to a lesser extent, to various other selling, general and administrative expenses. The decrease in mark-to-market equity-based compensation expense was attributable to a decrease in Discovery stock price during the three months ended March 31, 2014 compared with an increase in Discovery stock price during the three months ended March 31, 2013. Changes in stock price are a key driver of fair value estimates used in the attribution of expense for unit awards and SARs.

FINANCIAL CONDITION

Sources and Uses of Cash

As of March 31, 2014, we had $757 million of cash and cash equivalents on hand and approximately $1.0 billion available to borrow under our revolving credit facility. As a public company, we may have access to other sources of capital such as the public bond and equity markets. On March 7, 2014, DCL, our wholly-owned subsidiary, issued €300 million principal amount ($417 million, at issuance) of 2.375% Senior Notes due March 7, 2022. We maintain an effective Registration Statement on Form S-3 that allows us to conduct registered offerings of securities, including debt securities, common stock and preferred stock. Access to sufficient capital from the public market is not assured.

Our primary uses of cash include the creation and acquisition of new content, business acquisitions, repurchases of our capital stock, income taxes, personnel costs, interest on our outstanding senior notes, and funding for various equity method and other investments.

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• In 2014, we expect our uses of cash to include additional business combinations and investments. On January 21, 2014, we entered into an agreement with TF1 to acquire a controlling interest in Eurosport, a leading pan-European sports media platform, by increasing our ownership stake from 20% to 51% for cash of approximately €253 million ($343 million) subject to working capital adjustments. (See Note 2 to the accompanying consolidated financial statements.)

• We plan to continue to invest significantly in the creation and acquisition of new content. Additional information regarding contractual commitments to acquire content is set forth in “Commitments and Off-Balance Sheet Arrangements” in Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our 2013 Form 10-K.

• As of March 31, 2014, we had remaining authorization of $1.7 billion for future repurchases of our common stock under our stock repurchase program, of which $204 million and $1.5 billion will expire on December 11, 2014 and February 3, 2016, respectively. We have been funding our stock repurchases through a combination of cash on hand and cash generated by operations. In the future we may also choose to fund our stock repurchase program through borrowings under our revolving credit facility and future financing transactions. Under the stock repurchase program, management is authorized to purchase shares of the Company's common stock from time to time through open market purchases or privately negotiated transactions, at prevailing market prices as permitted by securities laws and other legal requirements, and subject to stock price, business and market conditions and other factors. As of March 31, 2014, we had repurchased 2.8 million and 73.4 million shares of our Series A and Series C common stock over the life of the program for the aggregate purchase price of $171 million and $3.6 billion, respectively. (See Note 9 to the accompanying consolidated financial statements.)

• We expect to continue to make payments for income taxes and interest on our outstanding senior notes. During the three months ended March 31, 2014, we made cash payments of $41 million and $20 million for income taxes and interest on our outstanding senior notes, respectively.

• We expect to continue to make payments for vested cash-settled equity awards. Actual amounts expensed and payable for cash-settled awards are dependent on future fair value calculations which are primarily affected by changes in our stock price or changes in the number of awards outstanding. During the three months ended March 31, 2014, we paid $81 million for cash-settled equity awards. As of March 31, 2014, liabilities totaled $55 million for outstanding cash-settled equity awards, of which $35 million was classified as current. (See Note 10 to the accompanying consolidated financial statements.)

• We have interests in various equity method investees and provide funding to those equity method investees from time to time. As of March 31, 2014, we have outstanding advances to and a note receivable from OWN, our equity method investee, which totals $473 million including interest. We expect OWN to continue to make payments on the note in 2014. We may provide additional funding to our equity method investees, if necessary, and expect to recoup amounts funded. (See Note 3 to the accompanying consolidated financial statements.)

Cash Flows

The following table presents changes in cash and cash equivalents (in millions).

	Three Months Ended March 31,
	2014			2013
Cash and cash equivalents, beginning of period	$	408		$	1,201
Cash provided by operating activities	241			131
Cash used in investing activities	(28		)	(150		)
Cash provided by financing activities	140			1,182
Effect of exchange rate changes on cash and cash equivalents	(4		)	(4		)
Net change in cash and cash equivalents	349			1,159
Cash and cash equivalents, end of period	$	757		$	2,360

Operating Activities

Cash provided by operating activities increased $110 million for the three months ended March 31, 2014 compared to the three months ended March 31, 2013. The increase was primarily attributable to changes in working capital, such as decreases in accounts receivable and increases in accounts payable due to the timing of payments, and a reduction in cash paid for taxes, partially offset by an increase in content investment of $90 million.

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Investing Activities

Cash flows used in investing activities decreased $122 million for the three months ended March 31, 2014 compared to the three months ended March 31, 2013. The decrease was primarily attributable to decreases in cash paid for business combinations of $43 million, net of cash acquired (see Note 2 to the accompanying consolidated financial statements), a decrease in realized losses for derivatives in connection with forecasted business combinations of $39 million, and improved operating results at OWN. During the three months ended March 31, 2014, we received net payments of $19 million from OWN. Conversely, during the three months ended March 31, 2013, we provided OWN with funding of $14 million. (See Note 3 to the accompanying consolidated financial statements.)

Financing Activities

Cash flows provided by financing activities decreased $1.0 billion for the three months ended March 31, 2014 compared to the three months ended March 31, 2013. The decrease was primarily due to a decrease in cash flows from the issuance of senior notes of $774 million, as well as an increase in repurchases of our common stock of $266 million. We made no repurchases of our Series A and Series C common stock pursuant to our stock repurchase program in the three months ended March 31, 2013 due to the anticipated investment in business acquisitions. We resumed repurchasing our common stock under our stock repurchase program in the second quarter of 2013.

Capital Resources

As of March 31, 2014, capital resources were comprised of the following (in millions).

	March 31, 2014
	Total Capacity		Outstanding Letters of Credit		Outstanding Indebtedness		Unused Capacity
Cash and cash equivalents	$	757	$	—	$	—	$	757
Revolving credit facility	1,000		1		—		999
Senior notes(a)	6,762		—		6,762		—
Total	$	8,519	$	1	$	6,762	$	1,756

^(a) Interest on senior notes is paid annually or semi-annually. Our senior notes outstanding as of March 31, 2014 had interest rates that ranged from 2.375% to 6.35% and will mature between 2015 and 2043.

As of March 31, 2014, we held $757 million of cash and cash equivalents, of which $290 million was included in foreign corporations that we intend to permanently reinvest outside of the U.S. Our current plans do not demonstrate a need to repatriate these amounts to fund our U.S. operations. However, if these funds are needed for our U.S. operations, we would be required to accrue and pay U.S. taxes to repatriate them. We expect that our cash balance, cash generated from operations and availability under our revolving credit facility will be sufficient to fund our cash needs for the next twelve months. On April 15, 2014 we drew $67 million from our revolving credit facility. We may continue to utilize our revolving credit facility in the future to meet our liquidity needs.

COMMITMENTS AND OFF-BALANCE SHEET ARRANGEMENTS

In the normal course of business, we enter into commitments for the purchase of goods or services that require us to make payments or provide funding in the event certain circumstances occur. (See Note 15 to the accompanying consolidated financial statements.)

RELATED PARTY TRANSACTIONS

In the ordinary course of business we enter into transactions with related parties, primarily Liberty Global plc, Liberty Media Corporation and our equity method investees. (See Note 14 to the accompanying consolidated financial statements.)

CRITICAL ACCOUNTING POLICIES AND ESTIMATES

Our critical accounting policies and estimates have not changed since December 31, 2013. For a discussion of each of our critical accounting policies listed below, including information and analysis of estimates and assumptions involved in their

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application, and other significant accounting policies, see Note 2 to the consolidated financial statements included in Item 8, “Financial Statements and Supplementary Data” in the 2013 Form 10-K:

•Revenue recognition;

•Goodwill and intangible assets;

•Income taxes;

•Content rights;

•Equity-based compensation; 

•Equity method investments; and

•Fair value measurements.

NEW ACCOUNTING AND REPORTING PRONOUNCEMENTS

We adopted one accounting and reporting standard during the three months ended March 31, 2014. (See Note 1 to the accompanying consolidated financial statements.)

ITEM 3. Quantitative and Qualitative Disclosures About Market Risk

Quantitative and qualitative disclosures about our existing market risk are set forth in Item 7A, “Quantitative and Qualitative Disclosures About Market Risk,” in the 2013 Form 10-K. Our exposures to market risk have not changed materially since December 31, 2013, except as described below. During the three months ended March 31, 2014, we recorded a foreign currency remeasurement loss of $10 million on cash and accounts receivable held in Venezuelan bolivars due to changes in Venezuela's currency exchange mechanisms. Companies operating in Venezuela, including our customers, are required to obtain Venezuelan government approval to exchange Venezuelan bolivars into U.S. dollars at the official exchange rate of 6.3 bolivars per U.S. dollar. As a result of recent events in Venezuela, our customers have been unable to obtain such approval and our ability to repatriate cash generated in Venezuela at the official exchange rate is uncertain. Therefore, as of March 31, 2014, we applied a devalued exchange rate of 10.7 bolivars per U.S. dollar, as established by an alternative currency exchange mechanism known as Sistema Complementario de Administracion de Divisas ("SICAD I"), in remeasuring our Venezuelan bolivar denominated monetary assets. As of March 31, 2014, the Company held approximately $11 million in Venezuelan bolivar denominated assets which may be exposed to further devaluation if the SICAD I exchange mechanism is not available to us or the SICAD I exchange rate deteriorates.

ITEM 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

Our management, with the participation of our Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of our disclosure controls and procedures as of March 31, 2014. The term “disclosure controls and procedures,” as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), means controls and other procedures of a company that are designed to ensure that information required to be disclosed by a company in the reports that it files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by a company in the reports that it files or submits under the Exchange Act is accumulated and communicated to the company’s management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. Management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving their objectives and management necessarily applies its judgment in evaluating the cost-benefit relationship of possible controls and procedures. Based on the evaluation of our disclosure controls and procedures as of March 31, 2014, our Chief Executive Officer and Chief Financial Officer concluded that, as of such date, our disclosure controls and procedures were effective.

Changes in Internal Control Over Financial Reporting

During the three months ended March 31, 2014, there were no changes in our internal control over financial reporting, as defined in Exchange Act Rule 13a-15(f), that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

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PART II. OTHER INFORMATION

ITEM 1. Legal Proceedings

In the normal course of business, we experience routine claims and legal proceedings. It is the opinion of our management, based on information available at this time, that none of the current claims and proceedings will have a material adverse effect on our consolidated financial position, results of operations or cash flows.

ITEM 1A. Risk Factors

Our risk factors have not changed materially since December 31, 2013. Disclosure about our existing risk factors is set forth in Item 1A, “Risk Factors,” in the 2013 Form 10-K.

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds

The following table presents information about our repurchases of common stock that were made through open market transactions during the three months ended March 31, 2014.

Period	Total  Number of Series C Shares Purchased	Average Price Paid per Share: Series C (a)		Total Number of Shares Purchased as Part of  Publicly Announced Plans or Programs(b)	Approximate Dollar Value of Shares that May Yet Be Purchased Under the  Plans or Programs(a)(b)
January 2014	209,257	$	83.11	209,257	$	452,201,262
February 2014	677,714	$	75.96	677,714	$	1,900,724,576
March 2014	2,529,723	$	77.85	2,529,723	$	1,703,775,090
Total	3,416,694	$	77.80	3,416,694	$	1,703,775,090

^(a) The amounts do not give effect to any fees, commissions or other costs associated with repurchases of shares.

^(b) As of March 31, 2014, the total amount authorized under the stock repurchase program was $5.5 billion, including the additional $1.5 billion approved by our Board of Directors on February 3, 2014, and we had remaining authorization of $1.7 billion for future repurchases under our common stock repurchase program, of which $204 million and $1.5 billion will expire on December 11, 2014 and February 3, 2016, respectively. Under the stock repurchase program, management is authorized to purchase shares of the Company's common stock from time to time through open market purchases or privately negotiated transactions at prevailing prices or pursuant to one or more accelerated stock repurchase agreements or other derivative arrangements as permitted by securities laws and other legal requirements, and subject to stock price, business and market conditions and other factors. We have been funding and expect to continue to fund stock repurchases through a combination of cash on hand and cash generated by operations. In the future, we may also choose to fund our stock repurchase program under our revolving credit facility or future financing transactions. There were no repurchases of our Series A and B common stock during the three months ended March 31, 2014. The Company first announced its stock repurchase program on August 3, 2010.

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ITEM 6. Exhibits.

Exhibit No.	Description
4.1	Sixth Supplemental Indenture, dated as of March 7, 2014, among Discovery Communications, LLC, Discovery Communications, Inc., U.S. Bank National Association, as Trustee, and Elavon Financial Services Limited, UK Branch, as London Paying Agent (incorporated by reference to Exhibit 4.1 to the Form 8-K filed on March 7, 2014)
10.1	Letter Agreement, dated March 25, 2014, between John Hendricks and Discovery Communications, Inc. (filed herewith)*
31.1	Certification of Chief Executive Officer Pursuant to Rule 13a-14(a) and Rule 15d-14(a) of the Securities Exchange Act of 1934, as Amended, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith)
31.2	Certification of Chief Financial Officer Pursuant to Rule 13a-14(a) and Rule 15d-14(a) of the Securities Exchange Act of 1934, as Amended, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith)
32.1	Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (furnished herewith)
32.2	Certification of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (furnished herewith)
101.INS	XBRL Instance Document (filed herewith)†
101.SCH	XBRL Taxonomy Extension Schema Document (filed herewith)†
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document (filed herewith)†
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document (filed herewith)†
101.LAB	XBRL Taxonomy Extension Label Linkbase Document (filed herewith)†
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document (filed herewith)†

* Indicates management contract or compensatory plan, contract or arrangement.

†Attached as Exhibit 101 to this Quarterly Report on Form 10-Q are the following formatted in XBRL (Extensible Business Reporting Language): (i) Consolidated Balance Sheets as of March 31, 2014 and December 31, 2013, (ii) Consolidated Statements of Operations for the three months ended March 31, 2014 and 2013, (iii) Consolidated Statements of Comprehensive Income for the three months ended March 31, 2014 and 2013, (iv) Consolidated Statements of Cash Flows for the three months ended March 31, 2014 and 2013, (v) Consolidated Statements of Equity for the three months ended March 31, 2014 and 2013, and (vi) Notes to Consolidated Financial Statements.

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SIGNATURES

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 thereunto duly authorized.

	DISCOVERY COMMUNICATIONS, INC. (Registrant)
Date: May 6, 2014	By:	/s/ David M. Zaslav
		David M. Zaslav
		President and Chief Executive Officer
Date: May 6, 2014	By:	/s/ Andrew Warren
		Andrew Warren
		Senior Executive Vice President and Chief Financial Officer

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EXHIBIT INDEX

Exhibit No.	Description
4.1	Sixth Supplemental Indenture, dated as of March 7, 2014, among Discovery Communications, LLC, Discovery Communications, Inc., U.S. Bank National Association, as Trustee, and Elavon Financial Services Limited, UK Branch, as London Paying Agent (incorporated by reference to Exhibit 4.1 to the Form 8-K filed on March 7, 2014)
10.1	Letter Agreement, dated March 25, 2014, between John Hendricks and Discovery Communications, Inc. (filed herewith)*
31.1	Certification of Chief Executive Officer Pursuant to Rule 13a-14(a) and Rule 15d-14(a) of the Securities Exchange Act of 1934, as Amended, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith)
31.2	Certification of Chief Financial Officer Pursuant to Rule 13a-14(a) and Rule 15d-14(a) of the Securities Exchange Act of 1934, as Amended, as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith)
32.1	Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (furnished herewith)
32.2	Certification of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (furnished herewith)
101.INS	XBRL Instance Document (filed herewith)†
101.SCH	XBRL Taxonomy Extension Schema Document (filed herewith)†
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document (filed herewith)†
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document (filed herewith)†
101.LAB	XBRL Taxonomy Extension Label Linkbase Document (filed herewith)†
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document (filed herewith)†

* Indicates management contract or compensatory plan, contract or arrangement.

†Attached as Exhibit 101 to this Quarterly Report on Form 10-Q are the following formatted in XBRL (Extensible Business Reporting Language): (i) Consolidated Balance Sheets as of March 31, 2014 and December 31, 2013, (ii) Consolidated Statements of Operations for the three months ended March 31, 2014 and 2013, (iii) Consolidated Statements of Comprehensive Income for the three months ended March 31, 2014 and 2013, (iv) Consolidated Statements of Cash Flows for the three months ended March 31, 2014 and 2013, (v) Consolidated Statements of Equity for the three months ended March 31, 2014 and 2013, and (vi) Notes to Consolidated Financial Statements.

58

EX-10.1

Exhibit 10.1

EXECUTION COPY

March 25, 2014

Mr. John S. Hendricks

Discovery Communications, Inc.

One Discovery Place

Silver Spring, MD 20910

Dear John:

This letter, with attached exhibits, sets out our agreement about your retirement from Discovery Communications, Inc. (the “Company”). This letter supersedes our letter agreement dated July 30, 2008 regarding your position with the Company.

1.    You have asked to retire from your position as Executive Chairman and as a member of the Company’s Board of Directors (“Board”), effective as of May 16, 2014 (your “Retirement Date”). For purposes of clarity, as of the close of business on your Retirement Date you will cease to be an officer of the Company and a member of the Board. Consequently, you will no longer be authorized to incur any expense, obligation or liability on behalf of the Company, to direct employees or to bind the Company in any way, and you agree that you will not engage in any of those activities, or hold yourself out as an officer of the Company or as otherwise having the authority to engage in any of those activities.

2.    Effective upon your Retirement Date, you will no longer receive a salary. You will no longer be eligible for any employee benefits offered by the Company, and you will not be eligible to receive an annual bonus for 2014. Nevertheless, you may, at your expense, elect to continue coverage under the Company’s group medical plan in accordance with “COBRA,” and/or purchase coverage through the “access-only” plan the Company makes available to eligible retirees. The Company will not pay any further premiums under The Restated and Amended Split-Dollar Agreement, dated April 15, 2011, which will terminate in accordance with its terms. Nothing in this letter agreement will be construed as changing your entitlement to receive vested benefits under the terms of any employee benefit plans or equity incentive plans in which you participate. Any outstanding equity you hold as of the Retirement Date will continue to be paid, or be exercisable, in accordance with the terms of the agreements governing such outstanding equity (as amended by this letter agreement).

3.    In recognition of your founding the Company and your long service to the Company, subject to the conditions in part (4), below, you will be treated as if your employment terminated as a result of your “Retirement” (after age 65) under the Equity Stake Transition Agreement dated November 5, 2008, such that all unvested nonqualified stock options to purchase Series A common stock of the Company granted to you pursuant to that agreement (such options having been awarded in 2008, 2009, 2010 and 2011) shall be immediately vested as of the Retirement Date and will remain exercisable for their original term.

4.    In exchange for the agreement to treat you as having retired under the Equity Stake Transition Agreement, you agree to (i) no later than April 30, 2014, execute and deliver (and not revoke) the General Liability Release in the form of Exhibit A, which is attached to and made part of this letter

agreement, and (ii) no later than the Retirement Date, enter into the Non-Competition Agreement in the form of Exhibit B, which is attached to and made part of this letter agreement.

John, there is no way for the Discovery family to thank you for all you have done. We wish you great joy and success with your new endeavors.

Sincerely yours,

Discovery Communications, Inc.

/s/ Adria Alpert Romm        

Adria Alpert Romm

Chief Human Resources & Global Diversity Officer

AGREED TO AND ACCEPTED BY:

/s/ John S. Hendricks            

John S. Hendricks

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EXECUTION COPY        

EXHIBIT A

GENERAL LIABILITY RELEASE

FOR VALUABLE CONSIDERATION PAID, the receipt and sufficiency of which are hereby acknowledged, I, John S. Hendricks, for myself, my heirs, executors, administrators and assigns, do hereby release, acquit and forever discharge Discovery Communications, Inc. (“DCI”), its parents, subsidiaries, affiliates and related entities, as well as all of their respective officers, directors, stockholders, members, partners, agents, employees and representatives (hereafter collectively, the “DCI Parties”), from all obligations, claims, demands, covenants, contracts, promises, agreements, liabilities, controversies, costs, expenses, attorneys’ fees, actions or causes of action whatsoever, whether known or unknown, I ever had or now have or claim to have against the DCI Parties from the beginning of the world to the day and date hereof, including any claim relating to the termination of my employment with DCI, and further including specifically but not exclusively, and without limiting the generality of the foregoing, any and all claims, demands and causes of action, known or unknown, arising out of any transaction, act or omission concerning my former employment by DCI and/or any of its subsidiaries or affiliates, and all claims of every kind that may arise under any federal, state or local statutory or common law, including the federal Age Discrimination In Employment Act of 1967, Title VII of the Civil Rights Act of 1964, as amended, the Americans with Disabilities Act, the Family and Medical Leave Act, the Equal Pay Act, the Employee Retirement Income Security Act, the Worker Adjustment and Retraining Notification Act, the Fair Labor Standards Act, the Maryland Human Rights Act, as well as any similar state or local statute(s), in each case as any such law may be amended from time to time; or any action arising in tort or contract.

I hereby acknowledge that my attorney has advised me regarding, and that I am familiar with, the fact that certain state statutes provide that general releases do not extend to claims that I do not know or suspect to exist in my favor at the time I execute such a release, which if known by me may have materially affected my execution of this release. Being aware of such statutes, I hereby expressly waive and relinquish any rights or benefits I may have under such statutes, as well as any other state or federal statutes or common law principles of similar effect. I also hereby specifically and knowingly waive the provisions of Section 1542 of the Civil Code of the State of California, which reads: A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor. Notwithstanding the provisions of Civil Code Section 1542 stated above and for the purpose of implementing a full and complete release and discharge of the DCI Parties, I expressly acknowledge that this General Liability Release is intended to include in its effect all claims that I do not know or suspect to exist in my favor at the time I sign this General Liability Release.

I hereby acknowledge that I am executing this General Liability Release pursuant to that certain letter agreement, dated March 25, 2014 (the “Agreement”), and that certain consideration to be provided to me pursuant to the Agreement is in addition to what I would have been entitled to receive in the absence of this General Liability Release. I hereby acknowledge that I am executing this General Liability Release voluntarily and with full

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knowledge of all relevant information and any and all rights I may have. I hereby acknowledge that I have been advised to consult with an independent attorney of my own choosing in connection with this General Liability Release to explain to me the legal effect of the terms and conditions of this General Liability Release. I hereby acknowledge that I am voluntarily and knowingly agreeing to the terms and conditions of this General Liability Release without any threats, coercion or duress, whether economic or otherwise, and that I agree to be bound by the terms of this General Liability Release. I acknowledge that I have been given twenty-one (21) days to consider this General Liability Release, and I understand that I have seven (7) days following my execution of this General Liability Release in which to revoke my agreement to comply with this General Liability Release by providing written notice of revocation to the General Counsel of DCI no later than three business days following such period.

I further hereby covenant and agree that this General Liability Release shall be binding in all respects upon myself, my heirs, executors, administrators, assigns and transferees and all persons claiming under them, and shall inure to the benefit of all of the DCI Parties.

IN WITNESS WHEREOF, I have signed this General Liability Release this 25^th day of

March, 2014.

By:     /s/ John S. Hendricks            

John S. Hendricks

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EXECUTION COPY        

EXHIBIT B

NON-COMPETITION AGREEMENT

This NON-COMPETITION AGREEMENT (this “Non-Competition Agreement”) is dated as of the 25^th day of March, 2014 (the “Effective Date”), by and among Discovery Communications, Inc., a Delaware corporation (the “Company”), and John S. Hendricks (the “Executive”). This Non-Competition Agreement supersedes the Non-Competition Agreement contemplated by the parties in connection with the Equity Stake Transition Agreement dated November 5, 2008.

WHEREAS, the parties entered into that certain letter agreement, dated March 25, 2014 (the “Letter Agreement”), pursuant to which the Company has promised to treat Executive as retired under Equity Stake Transition Agreement; and

WHEREAS, the Executive’s right to receive such treatment is conditioned, in part, on Executive’s signing and abiding by the terms of this Non-Competition Agreement.

NOW, THEREFORE, the parties hereto agree as follows:

1.    Covenants. As a means to protect the Company’s legitimate business interests, including protection of the “Confidential Information” of the Company (Executive hereby agreeing and acknowledging that the activities prohibited by this Paragraph 1 would necessarily involve the use of Confidential Information), during the “Restricted Period”, without the prior written approval of the Nominating and Corporate Governance Committee of the Company’s Board of Directors (the “Board Committee”), Executive shall not, directly, indirectly or as an agent on behalf of any person, firm, partnership, corporation or other entity (other than the Company or any Company Entity):

(a)    solicit for employment, consulting or any other provision of personal services, or hire, any person who is (i) a full-time or part-time employee of (or in the preceding six (6) months was employed by) the Company (or a Company Entity); or (ii) an individual performing, on average, twenty or more hours per week of personal services as an independent contractor to the Company (or a Company Entity). This covenant includes, but is not limited to, inducing or attempting to induce, or influencing or attempting to influence, any such person to terminate his or her employment or performance of services with or for the Company (or a Company Entity); or

(b) (i)    solicit or encourage any person or entity who is, or within the prior six (6) months was, a customer, producer, advertiser, distributor or supplier of the Company (or a Company Entity) to discontinue such person’s or entity’s business relationship with the Company (or a Company Entity); or (ii) discourage any prospective customer, producer, advertiser, distributor or supplier of the Company (or a Company Entity) from becoming a customer, producer, advertiser, distributor or supplier of the Company (or a Company Entity), including, without limitation, making any negative statements or communications about the Company (or a Company Entity) or their respective shareholders, directors, officers, employees or agents; provided that the restrictions of this Paragraph 1(b) shall apply only to customers, producers, advertisers, distributors or suppliers

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of the Company with which Executive had personal contact, or for whom Executive had some responsibility in the performance of Executive’s duties for the Company; or

(c)    hold any interest in (whether as owner, investor, shareholder, lender or otherwise) or perform any services for (whether as employee, consultant, advisor, director or otherwise), including the service of providing advice for, a “Competitive Business” regardless of whether such business is located in the United States or anywhere else in the world. Notwithstanding the foregoing, the Executive may own, directly or indirectly, (i) an aggregate of not more than 2% of the outstanding publicly traded stock or other publicly traded equity interest in any entity that engages in a Competitive Business, so long as such ownership therein is solely as a passive investor and does not include the performance of any services (as director, employee, consultant, advisor or otherwise) to such entity; and (ii) any interests in Hendricks Investment Holdings, LLC (“HIH”) and the associated businesses used to carry out the business activities and interests of HIH, as described by Discovery Holding Company (on behalf of the Company as registrant) in the Form S-4/A (p. 27) filed with the Securities and Exchange Commission (“SEC”) on August 6, 2008 (the “SEC Form S-4”).

2.    Confidentiality. Executive shall not, directly, indirectly or as an agent on behalf of any person, firm, partnership, corporation or other entity (other than the Company or any Company Entity):

(a) (i) use for the benefit, purposes or account of himself or any other person or entity (other than the Company and Company Entities), or (ii) disclose, divulge, reveal, communicate, share, transfer or provide access to any person or entity outside the Company and Company Entities (other than their shareholders, directors, officers, managers, employees, agents, counsel, investment advisers or representatives in the normal course of the performance of their duties), any Confidential Information without the prior written authorization of the Board Committee. Notwithstanding the foregoing provisions of this Paragraph 2(a)(i), this Non-Competition Agreement shall not preclude the Executive from disclosing the Confidential Information to the extent required by applicable law, rule or regulation (including complying with any oral or written questions, interrogatories, requests for information or documents, subpoena, civil investigative demand or similar legal process to which Executive is subject), provided that the Executive gives the Company prompt notice of such request(s), to the extent practicable, so that the Company may seek an appropriate protective order or similar relief (and the Executive shall cooperate with such efforts by the Company, and shall in any event make only the minimum disclosure required by such law, rule or regulation). Nothing contained herein shall prevent the use in any formal dispute resolution proceeding (subject, to the extent possible, to a protective order) of Confidential Information in connection with the assertion or defense of any claim, charge or other dispute by or against the Company (or a Company Entity) or the Executive; or

(b)    continue to use, or commence using, any Confidential Information or intellectual property (including any patent, invention, copyright, trade secret, trademark, trade name, logo, domain name or other source indicator) owned or used by the Company (or a Company Entity) except to the extent authorized by a separate written license; and Executive shall immediately destroy, delete, or return to the Company (at the Company’s option) all originals and copies in any

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form or medium (including memoranda, books, papers, plans, computer files, letters and other data) in the Executive’s possession or control (including any of the foregoing stored or located in the Executive’s office, home, laptop or other computer, whether or not such computer is Company property) that contain Confidential Information or otherwise relate to the business of the Company, except that Executive may retain only those portions of any personal notes, notebooks and diaries that do not contain any Confidential Information. The Executive will notify and fully cooperate with the Company regarding the delivery or destruction of any other Confidential Information of which Executive is or becomes aware.

3.    Definitions.

(a)    A “Competitive Business” shall be any business that directly competes with the Company for viewers, advertisers, distributors, producers, actors or the like in (i) the production, post-production assembly, or distribution/delivery by electronic means (including, but not limited to, broadcast, cable, satellite, or the internet) of video entertainment, or (ii) the exploitation of video entertainment through retail sales establishments, theatres or the internet. For the avoidance of doubt, the foregoing is not intended to prohibit the Executive from working for or engaging in activities on behalf of a business primarily engaged in the production, distribution and exploitation of video entertainment in the form of motion pictures intended primarily for theatrical release or computer-based gaming, such as Lions Gate Entertainment, Paramount Pictures and Electronic Arts (as those businesses are constituted and operated in 2014), or the production of life-long learning multimedia, on-line and lecture materials for distribution by HIH’s “learning academy” as described in the SEC Form S-4.

(b)    “Company Entity” shall mean the Company, any subsidiary of the Company and any other entity of which the Company, directly or indirectly, owns fifty percent (50%) or more of the profits or voting interests.

(c)    “Confidential Information” shall mean any non-public, proprietary or confidential information (including trade secrets, know-how, research and development, software, databases, inventions, processes, formulae, technology, designs and other intellectual property, information concerning finances, investments, profits, pricing, costs, products, services, vendors, customers, clients, partners, investors, personnel, compensation, recruiting, training, advertising, sales, marketing, promotions, government and regulatory activities and approval) concerning the past, current or future business, activities and operations of the Company, any Company Entities and/or any third party that has disclosed or provided any of same to the Company on a confidential basis. Confidential Information shall not include any information that is (A) generally known to the industry or the public other than as a result of the Executive’s breach of his duties to the Company; (B) is or was available to the Executive on a non-confidential basis prior to its disclosure to such Executive by the Company (or a Company Entity), or (C) made available to Executive by a third party who, to the best of such Executive’s knowledge, is or was not bound by a confidentiality agreement with (or other confidentiality obligation to) the Company (or a Company Entity) or another person or entity.

(d)    The “Restricted Period” shall begin on the Effective Date and shall expire on the third anniversary thereof.

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4.    Reasonableness and Enforcement of Covenants. The Executive acknowledges and agrees that: (i) the services he has provided to the Company have been of a special, unique and extraordinary nature; (ii) the restrictions contained in this Non-Competition Agreement are necessary to prevent the use and disclosure of Confidential Information and to protect other legitimate business interests of the Company; (iii) all of the restrictions in this Non-Competition Agreement are reasonable in all respects, including duration, territory and scope of activity; (iv) the restrictions contained in this Non-Competition Agreement shall be construed as separate agreements independent of each other and any other agreement between the Executive and the Company; (v) the existence of any claim or cause of action by the Executive against the Company, whether predicated on this Non-Competition Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of the covenants and restrictions in this Non-Competition Agreement; and (vi) the restrictive covenants contained in this Non-Competition Agreement are a material part of the Executive’s obligations for which the Company has compensated Executive.

5.    Remedies.

(a)    Remedies. Executive agrees that if he, or any affiliate of his, engages or threatens to engage in any activity that constitutes a violation of any of the provisions of this Non-Competition Agreement, the Company shall have the right and remedy to have the provisions of this Non-Competition Agreement specifically enforced to the extent permitted by law by any court having jurisdiction, it being acknowledged and agreed that any breach of this Non-Competition Agreement would cause immediate irreparable injury to the Company and that money damages would not provide an adequate remedy at law for any breach. Therefore, Executive agrees that the Company, without limiting any other legal or equitable remedies available to it, shall be entitled to obtain equitable relief by temporary restraining order, preliminary and permanent injunction or otherwise from any court of competent jurisdiction (without the requirement of posting a bond or other security), including, without limitation, injunctive relief to prevent Executive’s failure to comply with the terms and conditions of Paragraph 1 or 2 of this Agreement. Such right and remedy shall be in addition to, and not in lieu of, any other rights and remedies available to the Company at law or in equity, including the right to seek monetary damages. In addition, the Restricted Period shall be tolled on a day-for-day basis for each day during which the Executive violates the provisions of Paragraph 1 above in any respect, so that the Executive is restricted from engaging in the activities prohibited by Paragraph 1 for the full period.

(b) Reformation. It is the intent of the parties that the provisions of this Non-Competition Agreement be enforced to the fullest extent permissible under applicable law. If any term or provision of this Non-Competition Agreement is determined to be void, illegal, invalid or unenforceable by any court of competent jurisdiction in any jurisdiction, then such term or provision shall, as to such jurisdiction, be ineffective to the extent of such invalidity or unenforceability without rendering invalid or unenforceable the remaining terms and provisions of this Non-Competition Agreement or affecting the validity or enforceability of any of the terms or provisions of this Non-Competition Agreement in any other jurisdiction and such invalid or unenforceable provision shall be modified by such court so that it is enforceable to the maximum extent permitted by applicable law. The language used in this Non-Competition Agreement shall be deemed to be the language chosen by the parties hereto to express their mutual intent, and no rule of strict

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construction shall be applied against any party. If, in any judicial proceeding, a court shall refuse to enforce one or more of the covenants set forth in Paragraph 1 or 2 of this Non-Competition Agreement because the duration is too long or the scope is too broad, it is expressly agreed between the Company and the Executive that the court making such determination shall be empowered to reduce the duration and scope of the covenants set forth herein to the extent necessary to permit enforcement of such covenants.

6.    Miscellaneous.

(a)    Notices. All notices, demands and requests required or permitted to be given under the provisions of this Agreement shall be (a) in writing, (b) sent by telecopy or email (with receipt personally confirmed by telephone), delivered by personal delivery, sent by nationally reputable commercial overnight delivery service or sent by registered or certified U.S. mail, with return receipt requested, (c) deemed to have been given on the date telecopied or emailed with receipt confirmed, the date of personal delivery or the date set forth in the records of the delivery service or on the return receipt, and (d) addressed as follows:

(i)if to the Company, to:

Discovery Communications, Inc.

One Discovery Place

Silver Spring, MD 20910

Attention:    General Counsel

(ii)if to Executive, to the address of his principal residence in the Washington, DC metropolitan area, as reflected in the Company’s records; or

(iii)to any other or additional persons and addresses as the parties may from time to time designate in a writing delivered in accordance with this Paragraph 6(a).

(b) Benefit and Binding Effect. The Executive may not assign this Non-Competition Agreement without the prior written consent of the Company. The Company may assign its rights under this Non-Competition Agreement to any other person or entity that (i) acquires ownership or control of the Company, (ii) acquires substantially all of the assets of the Company, or (iii) is a successor entity through merger, conversion or other transaction or series of transactions. This Non-Competition Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and permitted assigns, so that the Executive and any of his affiliates will be precluded from competing against the Company, and interfering with the business of the Company, pursuant to Paragraph 1 for the full Restricted Period.

(c) Governing Law. This Non-Competition Agreement shall be governed, construed and enforced in accordance with the laws of the State of Maryland (without regard to the choice of law provisions thereof). Any action or proceeding seeking to enforce any provision of, or based on any right arising out of, this Non-Competition Agreement shall be brought against any of the parties in the courts of the State of Maryland or in the United States District Court for the District of Maryland in Greenbelt, Maryland, and each of the parties consents to the exclusive jurisdiction

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of such courts (and of the appropriate appellate courts) in any such action or proceeding and waives any objection to venue laid therein.

(d)    Entire Agreement. This Non-Competition Agreement constitutes the entire agreement and understanding between the parties hereto concerning the subject matter hereof. In entering into this Non-Competition Agreement, the Executive is not relying on any statements or representations not contained in this Non-Competition Agreement. This Non-Competition Agreement supersedes any and all prior agreements, arrangements and understandings, oral or written, with respect to the subject matter hereof, between the parties hereto.

(e)    Headings. The headings herein are included for ease of reference only and shall not control or affect the meaning or construction of the provisions of this Non-Competition Agreement.

(f)Amendments/Waivers. This Non-Competition Agreement cannot be amended, supplemented or changed except by an agreement in writing that makes specific reference to this Non-Competition Agreement and which is signed by the party against which enforcement of any such amendment, supplement, or modification is sought. Any waiver of any provision of this Non-Competition Agreement must be in writing and signed by the party granting the waiver.

(g)Counterparts. This Non-Competition Agreement may be signed in counterparts with the same effect as if the signature on each counterpart were upon the same instrument.

IN WITNESS WHEREOF, the parties hereto have duly executed this Non-Competition Agreement as of the day and year first above written.

DISCOVERY COMMUNICATIONS, INC.

By:     /s/ Adria Alpert Romm        

Adria Alpert Romm

Chief Human Resources & Global Diversity Officer

/s/ John S. Hendricks        

John S. Hendricks

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EX-31.1

EXHIBIT 31.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

PURSUANT TO RULE 13a - 14(a) AND RULE 15d - 14(a)

OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED,

AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, David M. Zaslav, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Discovery Communications, Inc.;

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

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

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

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

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

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

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

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

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

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

Date: May 6, 2014	By:	/s/ David M. Zaslav
		David M. Zaslav
		President and Chief Executive Officer

EX-31.2

EXHIBIT 31.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER

PURSUANT TO RULE 13a - 14(a) AND RULE 15d - 14(a)

OF THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED,

AS ADOPTED PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Andrew Warren, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Discovery Communications, Inc.;

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

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

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

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

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

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

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

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

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

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

Date: May 6, 2014	By:	/s/ Andrew Warren
		Andrew Warren
		Senior Executive Vice President and Chief Financial Officer

EX-32.1

EXHIBIT 32.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Discovery Communications, Inc. (“Discovery”), on Form 10-Q for the quarter ended March 31, 2014, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, David M. Zaslav, President and Chief Executive Officer of Discovery, certify that to my knowledge:

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

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

Date: May 6, 2014	By:	/s/ David M. Zaslav
		David M. Zaslav
		President and Chief Executive Officer

EX-32.2

EXHIBIT 32.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of Discovery Communications, Inc. (“Discovery”), on Form 10-Q for the quarter ended March 31, 2014, as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Andrew Warren, Senior Executive Vice President and Chief Financial Officer of Discovery, certify that to my knowledge:

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

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

Date: May 6, 2014	By:	/s/ Andrew Warren
		Andrew Warren
		Senior Executive Vice President and Chief Financial Officer

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Income Taxes (Tables)

3 Months Ended

Mar. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

The following table reconciles the Company's effective income tax rate to the U.S. federal statutory income tax rate of 35%.

	Three Months Ended March 31,
	2014		2013
U.S. federal statutory income tax rate	35	%	35	%
State and local income taxes, net of federal tax benefit	3	%	3	%
Effect of foreign operations	(1	)%	1	%
Domestic production activity deductions	(3	)%	1	%
Change in uncertain tax positions	(2	)%	—	%
Remeasurement gain on previously held equity interest	—	%	(2	)%
Other, net	2	%	1	%
Effective income tax rate	34	%	39	%

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Debt (Narrative) (Details)			0 Months Ended					3 Months Ended
	Mar. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Mar. 07, 2014 2.375% Senior Notes [Member] USD ($)	Mar. 31, 2014 2.375% Senior Notes [Member] USD ($)		Mar. 07, 2014 2.375% Senior Notes [Member] EUR (€)	Dec. 31, 2013 2.375% Senior Notes [Member] USD ($)	Mar. 31, 2014 Line of Credit [Member] USD ($)	Dec. 31, 2013 Line of Credit [Member] USD ($)
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 6,937,000,000	$ 6,515,000,000	$ 417,000,000	$ 412,000,000	[1]	€ 300,000,000	$ 0
Debt Instrument, Interest Rate, Stated Percentage			2.375%
Debt Instrument, Maturity Date			Mar. 07, 2022
Debt Instrument, Unamortized Discount			3,000,000
Payments of Debt Issuance Costs			2,000,000
Revolving line of credit, maximum borrowing capacity								1,000,000,000
Amounts drawn under revolving credit facility								$ 0	$ 0
Line of Credit Facility, Expiration Date								Oct. 12, 2017
Foreign Currency Exchange Rate, Remeasurement			1.39	1.37
Debt Instrument, Issuance Date			Mar. 07, 2014

[1] (a) Remeasurement from euro using the exchange rate of €1.00 = $1.37 on March 31, 2014.

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Acquisitions And Dispositions Acquisitions and Dispositions (Schedule of Consolidation of Results of Business Combinations) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Revenues	$ 1,411	$ 1,156
Business Acquistions [Member]
Revenues	184
Net loss	$ (20)

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Equity-Based Compensation (Stock Options) (Details) (Stock Options [Member], USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2014
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding as of Beginning of Period, Stock Options	7.6
Granted, Stock Options	0.9
Exercised, Stock Options	(0.3)
Outstanding as of Period End, Stock Options	8.2
Vested and expected to vest as of Period End, Stock Options	8.0
Exercisable as of Period End, Stock Options	5.4
Outstanding as of Beginning of Period, Weighted-Average Exercise Price	$ 36.47
Granted, Weighted-Average Exercise Price	$ 83.30
Exercised, Weighted-Average Exercise Price	$ 28.63
Outstanding as of Period End, Weighted-Average Exercise Price	$ 41.71
Vested and expected to vest as of Period End, Weighted-Average Exercise Price	$ 41.00
Exercisable as of Period End, Weighted-Average Exercise Price	$ 29.71
Outstanding as of Period End, Weighted-Average Remaining Contractual Term (years)	4 years 168 days
Vested and expected to vest, Weighted-average remaining contractual term (years)	4 years 165 days
Exercisable as of Period End, Weighted-Average Remaining Contractual Term (years)	4 years 18 days
Exercised, Aggregate Intrinsic Value	$ 15
Outstanding as of Period End, Aggregate Intrinsic Value	335
Vested and expected to vest as of Period End, Aggregate Intrinsic Value	333
Exercisable as of Period End, Aggregate Intrinsic Value	$ 283

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Debt (Outstanding Debt) (Details) In Millions, unless otherwise specified	Mar. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Mar. 31, 2014 3.70% Senior Notes [Member] USD ($)	Dec. 31, 2013 3.70% Senior Notes [Member] USD ($)	Mar. 31, 2014 5.625% Senior Notes [Member] USD ($)	Dec. 31, 2013 5.625% Senior Notes [Member] USD ($)	Mar. 31, 2014 5.05% Senior Notes [Member] USD ($)	Dec. 31, 2013 5.05% Senior Notes [Member] USD ($)	Mar. 31, 2014 4.375% Senior Notes [Member] USD ($)	Dec. 31, 2013 4.375% Senior Notes [Member] USD ($)	Mar. 31, 2014 2.375% Senior Notes [Member] USD ($)		Mar. 07, 2014 2.375% Senior Notes [Member] USD ($)	Mar. 07, 2014 2.375% Senior Notes [Member] EUR (€)	Dec. 31, 2013 2.375% Senior Notes [Member] USD ($)	Mar. 31, 2014 3.30% Senior Notes [Member] USD ($)	Dec. 31, 2013 3.30% Senior Notes [Member] USD ($)	Mar. 31, 2014 3.25% Senior Notes [Member] USD ($)	Dec. 31, 2013 3.25% Senior Notes [Member] USD ($)	Mar. 31, 2014 6.35% Senior Notes [Member] USD ($)	Dec. 31, 2013 6.35% Senior Notes [Member] USD ($)	Mar. 31, 2014 4.95% Senior Notes [Member] USD ($)	Dec. 31, 2013 4.95% Senior Notes [Member] USD ($)	Mar. 31, 2014 4.875% Senior Notes [Member] USD ($)	Dec. 31, 2013 4.875% Senior Notes [Member] USD ($)
Debt Instrument [Line Items]
Capital lease obligations	$ 175	$ 165
Long-term Debt, Gross	6,937	6,515	850	850	500	500	1,300	1,300	650	650	412	[1]	417	300	0	500	500	350	350	850	850	500	500	850	850
Unamortized discount	(19)	(16)
Long-term debt, net	6,918	6,499
Current portion of debt	(18)	(17)
Noncurrent portion of debt	$ 6,900	$ 6,482

[1] (a) Remeasurement from euro using the exchange rate of €1.00 = $1.37 on March 31, 2014.

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Supplemental Disclosures (Schedule Of Other (Expense) Income, Net) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Disclosure Text Block Supplement [Abstract]
Foreign currency losses, net	$ (11)	$ (2)
Loss on derivative instruments	(7)	(59)
Remeasurement gain on previously held equity interest	0	92
Other income (expense)	1	0
Total other (expense) income, net	$ (17)	$ 31

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Acquisitions And Dispositions (Narrative) (Details) In Millions, unless otherwise specified	3 Months Ended			0 Months Ended					0 Months Ended		12 Months Ended	3 Months Ended		3 Months Ended
	Mar. 31, 2014 USD ($)	Mar. 31, 2013 USD ($)	Dec. 31, 2013 USD ($)	Apr. 09, 2013 SBS Nordic [Member] USD ($)	Apr. 09, 2013 SBS Nordic [Member] EUR (€)	Jan. 10, 2013 Discovery Japan [Member] USD ($)	Dec. 31, 2012 Discovery Japan [Member]	Mar. 31, 2014 TF1 [Member]	Feb. 28, 2014 Series of Individually Immaterial Business Acquisitions [Member] USD ($)	Feb. 28, 2014 Series of Individually Immaterial Business Acquisitions [Member] GBP (£)	Dec. 31, 2013 Series of Individually Immaterial Business Acquisitions [Member] USD ($)	Jun. 30, 2014 Forecast [Member] USD ($)	Jun. 30, 2014 Forecast [Member] Eurosport France [Member]	Jun. 30, 2014 Forecast [Member] TF1 [Member] USD ($)	Jun. 30, 2014 Forecast [Member] TF1 [Member] EUR (€)
Significant Acquisitions and Disposals [Line Items]
Proportionate ownership percentage							50.00%	20.00%					20.00%
Business Acquisition, Percentage of Voting Interests Acquired														51.00%	51.00%
Business Combination, Consideration Transferred				$ 1,800	€ 1,400	$ 53			$ 20	£ 12	$ 88			$ 343	€ 253
Finite-Lived Intangible Asset, Useful Life				8 years	8 years
Increase or Decrease in ownership, percentage						30.00%
Noncontrolling interest subject to call option													31.00%
Goodwill	7,370		7,341	779		103			28		67
Remeasurement gain on previously held equity interest	0	92				92
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners						20.00%								49.00%	49.00%
Terms Of Put Arrangement														2 years 6 months	2 years 6 months
Intangible assets				1,001		100					24
Proceeds from disposition												45
Gain on disposition												$ 30

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Content Rights (Tables)

3 Months Ended

Mar. 31, 2014

Content Rights [Abstract]

Schedule Of Content Rights

The table below presents the components of content rights (in millions).

	March 31, 2014			December 31, 2013
Produced content rights:
Completed	$	3,761		$	3,566
In-production	318			334
Coproduced content rights:
Completed	653			637
In-production	85			84
Licensed content rights:
Acquired	927			880
Prepaid	58			48
Content rights, at cost	5,802			5,549
Accumulated amortization	(3,593		)	(3,389		)
Total content rights, net	2,209			2,160
Current portion	(307		)	(277		)
Noncurrent portion	$	1,902		$	1,883

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Supplemental Disclosures (Schedule of Cash proceeds from equity-based plans, net) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Supplemental Cash Flow Elements [Abstract]
Tax settlements associated with equity-based plans	$ (26)	$ (22)
Excess tax benefits from equity-based compensation	16	13
Proceeds from issuance of common stock in connection with equity-based plans	10	16
Cash proceeds from equity-based plans, net	$ 0	$ 7

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Income Taxes (Narrative) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended			12 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Mar. 31, 2015 Forecast [Member]
Income Tax Contingency [Line Items]
Unrecognized Tax Benefits, Decreases Resulting from Current Period Tax Positions				$ 22
Provisions for income taxes	118	146
Effective income tax rate	34.00%	39.00%
Federal statutory income tax rate	35.00%	35.00%
Unrecognized Tax Benefits	181		185
Unrecognized Tax Benefits, Interest on Income Taxes Accrued	$ 14		$ 11

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Condensed Consolidating Financial Statements (Condensed Consolidating Balance Sheet) (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2012
Cash and cash equivalents	$ 757	$ 408	$ 2,360	$ 1,201
Receivables, net	1,341	1,371
Content rights, net	307	277
Deferred income taxes	76	73
Prepaid expenses and other current assets	259	281
Total current assets	2,740	2,410
Noncurrent content rights, net	1,902	1,883
Goodwill	7,370	7,341
Intangible assets, net	1,516	1,565
Equity method investments	1,080	1,087
Other noncurrent assets	181	179
Total assets	15,311	14,979
Current portion of debt	18	17
Total current liabilities	1,253	1,294
Noncurrent portion of debt	6,900	6,482
Other noncurrent liabilities	326	333
Total liabilities	9,093	8,746
Redeemable noncontrolling interests	37	36
Noncontrolling interests	1	1
Total equity	6,181	6,197	6,242	6,293
Total liabilities and equity	15,311	14,979
Reclassifications And Eliminations [Member]
Cash and cash equivalents	0	0	0	0
Receivables, net	0	0
Content rights, net	0	0
Deferred income taxes	0	0
Prepaid expenses and other current assets	0	0
Intercompany trade receivables, net	(313)	(286)
Total current assets	(313)	(286)
Investment in and advances to consolidated subsidiaries	(24,352)	(23,549)
Noncurrent content rights, net	0	0
Goodwill	0	0
Intangible assets, net	0	0
Equity method investments	0	0
Other noncurrent assets	(20)	(20)
Total assets	(24,685)	(23,855)
Current portion of debt	0	0
Other current liabilities	0	0
Intercompany Trade Payables, Net	(313)	(286)
Total current liabilities	(313)	(286)
Noncurrent portion of debt	0	0
Other noncurrent liabilities	(20)	(20)
Total liabilities	(333)	(306)
Redeemable noncontrolling interests	0	0
Equity attributable to Discovery Communications, Inc.	(24,352)	(23,549)
Noncontrolling interests	0	0
Total equity	(24,352)	(23,549)
Total liabilities and equity	(24,685)	(23,855)
Discovery [Member]
Cash and cash equivalents	0	0	0	0
Receivables, net	0	0
Content rights, net	0	0
Deferred income taxes	0	0
Prepaid expenses and other current assets	0	52
Intercompany trade receivables, net	0	0
Total current assets	0	52
Investment in and advances to consolidated subsidiaries	6,266	6,147
Noncurrent content rights, net	0	0
Goodwill	0	0
Intangible assets, net	0	0
Equity method investments	0	0
Other noncurrent assets	0	0
Total assets	6,266	6,199
Current portion of debt	0	0
Other current liabilities	85	1
Intercompany Trade Payables, Net	0	0
Total current liabilities	85	1
Noncurrent portion of debt	0	0
Other noncurrent liabilities	1	2
Total liabilities	86	3
Redeemable noncontrolling interests	0	0
Equity attributable to Discovery Communications, Inc.	6,180	6,196
Noncontrolling interests	0	0
Total equity	6,180	6,196
Total liabilities and equity	6,266	6,199
DCH [Member]
Cash and cash equivalents	0	0	0	0
Receivables, net	0	0
Content rights, net	0	0
Deferred income taxes	0	0
Prepaid expenses and other current assets	0	0
Intercompany trade receivables, net	0	0
Total current assets	0	0
Investment in and advances to consolidated subsidiaries	6,275	6,155
Noncurrent content rights, net	0	0
Goodwill	0	0
Intangible assets, net	0	0
Equity method investments	0	0
Other noncurrent assets	20	19
Total assets	6,295	6,174
Current portion of debt	0	0
Other current liabilities	8	6
Intercompany Trade Payables, Net	0	0
Total current liabilities	8	6
Noncurrent portion of debt	0	0
Other noncurrent liabilities	0	0
Total liabilities	8	6
Redeemable noncontrolling interests	0	0
Equity attributable to Discovery Communications, Inc.	6,287	6,168
Noncontrolling interests	0	0
Total equity	6,287	6,168
Total liabilities and equity	6,295	6,174
DCL [Member]
Cash and cash equivalents	126	123	2,191	1,022
Receivables, net	405	449
Content rights, net	0	12
Deferred income taxes	33	31
Prepaid expenses and other current assets	157	143
Intercompany trade receivables, net	313	286
Total current assets	1,034	1,044
Investment in and advances to consolidated subsidiaries	7,620	7,135
Noncurrent content rights, net	628	615
Goodwill	3,769	3,769
Intangible assets, net	318	320
Equity method investments	330	330
Other noncurrent assets	174	173
Total assets	13,873	13,386
Current portion of debt	6	5
Other current liabilities	416	421
Intercompany Trade Payables, Net	0	0
Total current liabilities	422	426
Noncurrent portion of debt	6,753	6,343
Other noncurrent liabilities	423	462
Total liabilities	7,598	7,231
Redeemable noncontrolling interests	0	0
Equity attributable to Discovery Communications, Inc.	6,275	6,155
Noncontrolling interests	0	0
Total equity	6,275	6,155
Total liabilities and equity	13,873	13,386
Non-Guarantor Subsidiaries Of DCL [Member]
Cash and cash equivalents	631	285	169	179
Receivables, net	936	922
Content rights, net	307	265
Deferred income taxes	43	42
Prepaid expenses and other current assets	102	86
Intercompany trade receivables, net	0	0
Total current assets	2,019	1,600
Investment in and advances to consolidated subsidiaries	0	0
Noncurrent content rights, net	1,274	1,268
Goodwill	3,601	3,572
Intangible assets, net	1,198	1,245
Equity method investments	750	757
Other noncurrent assets	529	521
Total assets	9,371	8,963
Current portion of debt	12	12
Other current liabilities	726	849
Intercompany Trade Payables, Net	313	286
Total current liabilities	1,051	1,147
Noncurrent portion of debt	147	139
Other noncurrent liabilities	515	505
Total liabilities	1,713	1,791
Redeemable noncontrolling interests	37	36
Equity attributable to Discovery Communications, Inc.	7,620	7,135
Noncontrolling interests	1	1
Total equity	7,621	7,136
Total liabilities and equity	9,371	8,963
Other Non-Guarantor Subsidiaries of Discovery [Member]
Cash and cash equivalents	0	0	0	0
Receivables, net	0	0
Content rights, net	0	0
Deferred income taxes	0	0
Prepaid expenses and other current assets	0	0
Intercompany trade receivables, net	0	0
Total current assets	0	0
Investment in and advances to consolidated subsidiaries	4,191	4,112
Noncurrent content rights, net	0	0
Goodwill	0	0
Intangible assets, net	0	0
Equity method investments	0	0
Other noncurrent assets	0	0
Total assets	4,191	4,112
Current portion of debt	0	0
Other current liabilities	0	0
Intercompany Trade Payables, Net	0	0
Total current liabilities	0	0
Noncurrent portion of debt	0	0
Other noncurrent liabilities	21	21
Total liabilities	21	21
Redeemable noncontrolling interests	0	0
Equity attributable to Discovery Communications, Inc.	4,170	4,091
Noncontrolling interests	0	0
Total equity	4,170	4,091
Total liabilities and equity	4,191	4,112
Discovery and Subsidiaries [Member]
Cash and cash equivalents	757	408	2,360	1,201
Receivables, net	1,341	1,371
Content rights, net	307	277
Deferred income taxes	76	73
Prepaid expenses and other current assets	259	281
Intercompany trade receivables, net	0	0
Total current assets	2,740	2,410
Investment in and advances to consolidated subsidiaries	0	0
Noncurrent content rights, net	1,902	1,883
Goodwill	7,370	7,341
Intangible assets, net	1,516	1,565
Equity method investments	1,080	1,087
Other noncurrent assets	703	693
Total assets	15,311	14,979
Current portion of debt	18	17
Other current liabilities	1,235	1,277
Intercompany Trade Payables, Net	0	0
Total current liabilities	1,253	1,294
Noncurrent portion of debt	6,900	6,482
Other noncurrent liabilities	940	970
Total liabilities	9,093	8,746
Redeemable noncontrolling interests	37	36
Equity attributable to Discovery Communications, Inc.	6,180	6,196
Noncontrolling interests	1	1
Total equity	6,181	6,197
Total liabilities and equity	$ 15,311	$ 14,979

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Derivative Financial Instruments (Narrative) (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Derivative [Line Items]
Amounts eligible to be offset under master netting agreements	$ 0	$ 0
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Derivative [Line Items]
Derivatives, Notional Amount, Used to Hedge to Business Combinations	$ 0	$ 0

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Earnings Per Share (Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share) (Details) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Anti-Dilutive Stock Options, PRSUs and RSU [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	1	0
PRSUs whose performance targets have not been achieved [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2	1

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Reportable Segments (Schedule Of Reconciliation Of Adjusted OIBDA To Operating Income) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Segment Reporting [Abstract]
Total Adjusted OIBDA	$ 525	$ 500
Amortization of deferred launch incentives	(2)	(5)
Mark-to-market equity-based compensation	(3)	(46)
Depreciation and amortization	(83)	(32)
Restructuring charges	(3)	(1)
Operating income	$ 434	$ 416

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Related Party Transactions (Schedule of Related Party Transactions, Revenues and Expenses) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014		Mar. 31, 2013
Related Party Transaction [Line Items]
Revenue and service charges	$ 67		$ 34
Expenses	10		7
Liberty Group [Member]
Related Party Transaction [Line Items]
Revenue and service charges	38	[1]	12	[1]
Equity Method Investments [Member]
Related Party Transaction [Line Items]
Revenue and service charges	21		17
Interest and Other Income	9	[2]	9	[2]
OtherRelatedParties [Member]
Related Party Transaction [Line Items]
Revenue and service charges	$ 8		$ 5

[1] (a) The increase in revenue from transactions with the Liberty Group is primarily attributable to activity with Charter Communications, Inc. ("Charter") and Virgin Media, Inc. ("Virgin Media"). In May 2013 Liberty Media completed its equity method investment in Charter; Dr. Malone is on Charter's board of directors. In June 2013, Liberty Global announced it had completed its acquisition of Virgin Media. Transactions with Charter and Virgin Media have been reported as related party transactions since the date they became related parties

[2] (b) The Company records interest earnings from loans to equity method investees as a component of earnings (losses) from equity method investees, net, in the consolidated statements of operations.

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Reportable Segments (Schedule Of Total Assets By Segment) (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Total assets	$ 15,311	$ 14,979
U.S. Networks [Member]
Segment Reporting Information [Line Items]
Total assets	2,919	2,978
International Networks [Member]
Segment Reporting Information [Line Items]
Total assets	5,228	4,792
Education [Member]
Segment Reporting Information [Line Items]
Total assets	118	125
Corporate And Inter-Segment Eliminations [Member]
Segment Reporting Information [Line Items]
Total assets	$ 7,046	$ 7,084

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Supplemental Disclosures (Schedule Of Accrued Expenses And Other Current Liabilities) (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Disclosure Text Block Supplement [Abstract]
Accrued payroll and related benefits	$ 284	$ 373
Content rights payable	184	212
Accrued income taxes	121	71
Accrued interest	105	43
Current portion of equity-based compensation liabilities	35	85
Accrued other	218	208
Total accrued liabilities	$ 947	$ 992

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Equity-Based Compensation (Unit Awards) (Details) (Unit Awards [Member], USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2014
Unit Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding as of Beginning of Period	1.6
Settled	(1.0)
Outstanding as of Period End	0.6
Vested and expected to vest as of Period End	0.6
Outstanding as of Beginning of Period, Weighted-Average Grant Price	$ 38.46
Settled, Weighted-Average Grant Price	$ 36.96
Outstanding as of Period End, Weighted-Average Grant Price	$ 41.17
Vested and expected to vest as of Period End, Weighted-Average Grant Price	$ 41.17
Outstanding as of Period End, Weighted-Average Remaining Contractual Term (years)	277 days
Vested and expected to vest, weighted average remaining contractual term	277 days
Settled, Aggregate Intrinsic Value	$ 52
Outstanding, End of Period, Aggregate Intrinsic Value	24
Vested and expected to vest as of Period End, Aggregate Intrinsic Value	$ 24

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Description Of Business And Basis Of Presentation (Policies)

3 Months Ended

Mar. 31, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Use Of Estimates

Use of Estimates

The preparation of financial statements in accordance with GAAP requires management to make estimates, judgments and assumptions that affect the amounts and disclosures reported in the consolidated financial statements and accompanying notes. Management continually re-evaluates its estimates, judgments and assumptions, and management’s assessments could change. Actual results may differ materially from those estimates.

Estimates inherent in the preparation of the consolidated financial statements include accounting for asset impairments, revenue recognition, allowances for doubtful accounts, content rights, depreciation and amortization, business combinations, equity-based compensation, income taxes, other financial instruments, contingencies, and the determination of whether the Company is the primary beneficiary of entities in which it holds variable interests.

Accounting And Reporting Pronouncements Adopted

Accounting and Reporting Pronouncements Adopted

Presentation of Unrecognized Tax Benefits

In July 2013, the Financial Accounting Standards Board ("FASB") issued guidance stating that a liability related to an unrecognized tax benefit should be presented as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carry forward to the extent such deferred tax asset is available at the reporting date to settle any additional income taxes that would result from the disallowance of a tax position. The Company prospectively adopted the new guidance effective January 1, 2014 and reclassified $11 million in liabilities related to unrecognized tax benefits from other noncurrent liabilities to noncurrent deferred income tax liabilities on the consolidated balance sheet as of March 31, 2014.

Accounting and Reporting Pronouncements Not Yet Adopted

Accounting and Reporting Pronouncements Not Yet Adopted

Reporting Discontinued Operations

In April 2014, the FASB issued guidance that changes the criteria for reporting a discontinued operation. Under the new pronouncement, disposal of a component of an entity representing a strategic shift with major effect on its operations and financial results is a discontinued operation. The Company is required to adopt the guidance prospectively for all disposals or components of its business classified as held for sale during fiscal periods beginning after December 15, 2014 and is currently evaluating what impact, if any, the adoption will have to the presentation of its consolidated financial statements.

Concentrations Risk

Concentrations Risk

Customers

The Company has long-term contracts with distributors around the world, including the largest distributors in the U.S. and major international distributors. In the U.S., approximately 90% of distribution revenues come from the top 10 distributors. Outside of the U.S., approximately 50% of distribution revenue comes from the top 10 distributors. Agreements in place with the major cable and satellite operators in the U.S. expire at various times beginning in 2014 through 2020. Failure to secure a renewal or a renewal on less favorable terms may have a material adverse effect on the Company’s financial condition and results of operations. Not only could the Company experience a reduction in affiliate revenue, but it could also experience a reduction in advertising revenue which is impacted by affiliate subscriber levels and viewership.

No individual customer accounted for more than 10% of total consolidated revenues for the three months ended March 31, 2014 or 2013. As of March 31, 2014 and December 31, 2013, the Company’s trade receivables do not represent a significant concentration of credit risk as the customers and markets in which the Company operates are varied and dispersed across many geographic areas.

Financial Institutions

Cash and cash equivalents are maintained with several financial institutions. The Company has deposits held with banks that exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions of reputable credit and, therefore, bear minimal credit risk.

Lender Counterparties

There is a risk that the counterparties associated with the Company’s revolving credit facility will not be available to fund as obligated under the terms of the facility. If funding under the revolving credit facility is unavailable, the Company may have to acquire a replacement credit facility from different counterparties at a higher cost or may be unable to find a suitable replacement. Typically, the Company seeks to manage these exposures by contracting with experienced large financial institutions and monitoring the credit quality of its lenders. As of March 31, 2014, the Company did not anticipate nonperformance by any of its counterparties.

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Fair Value Measurements (Narrative) (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
TF1 put right	$ 27,000,000	$ 20,000,000
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
TF1 put right	0	0
Long-term Debt, Fair Value	$ 7,300,000,000	$ 6,600,000,000

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Related Party Transactions (Tables)

3 Months Ended

Mar. 31, 2014

Related Party Transactions [Abstract]

Schedule Of Related Party Transactions, Revenues Text Block

The table below presents a summary of the transactions with related parties (in millions).

	Three Months Ended March 31,
	2014		2013
Revenues and service charges:
Liberty Group(a)	$	38	$	12
Equity method investees	21		17
Other	8		5
Total revenues and service charges	$	67	$	34
Interest income(b)	$	9	$	9
Expenses	$	10	$	7

^(a) The increase in revenue from transactions with the Liberty Group is primarily attributable to activity with Charter Communications, Inc. ("Charter") and Virgin Media, Inc. ("Virgin Media"). In May 2013 Liberty Media completed its equity method investment in Charter; Dr. Malone is on Charter's board of directors. In June 2013, Liberty Global announced it had completed its acquisition of Virgin Media. Transactions with Charter and Virgin Media have been reported as related party transactions since the date they became related parties.

^(b) The Company records interest earnings from loans to equity method investees as a component of earnings (losses) from equity method investees, net, in the consolidated statements of operations.

Schedules Of Related Party Transactions Receivables Text Block [Table Text Block]

The table below presents receivables due from related parties (in millions).

	March 31, 2014		December 31, 2013
Receivables	$	45	$	41
Note receivable (see Note 3)	$	473	$	483

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Earnings Per Share (Reconciliation Of Income And Weighted Average Number Of Shares Outstanding) (Details) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Earnings Per Share [Abstract]
Net income	$ 231	$ 231
Net Income Attributable to Redeemable Noncontrolling Interests	(1)	0
Redeemable noncontrolling interest adjustments to redemption value	1	2
Net income available to Discovery Communications, Inc. stockholders	$ 231	$ 233
Weighted average shares outstanding - basic	348	363
Weighted average dilutive effect of equity awards	4	4
Weighted average shares outstanding - diluted	352	367
Basic earnings per share available to Discovery Communications, Inc. stockholders:
Net income	$ 0.66	$ 0.64
Diluted earnings per share available to Discovery Communications, Inc. stockholders:
Net income	$ 0.66	$ 0.63

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Equity (Tables)

3 Months Ended

Mar. 31, 2014

Equity [Abstract]

Schedule of Treasury Stock by Class [Table Text Block]

	Three Months Ended March 31,
	2014		2013
Series A Common Stock:
Shares repurchased	—		—
Purchase price	$	—	$	—
Series C Common Stock:
Shares repurchased	3.4		—
Purchase price	$	266	$	—
Total shares repurchased	3.4		—
Total purchase price	$	266	$	—

Components of other comprehensive income (loss)

The table below presents the tax effects related to each component of other comprehensive income (loss) and reclassifications made into the consolidated statements of operations (in millions).

	Three Months Ended March 31, 2014									Three Months Ended March 31, 2013
	Pretax			Tax Provision			Net-of-tax			Pretax			Tax Provision			Net-of-tax
Currency translation adjustments:
Unrealized gains / (losses)	$	2		$	(1	)	$	1		$	(64	)	$	11		$	(53	)
Reclassification to other (expense) income, net	—			—			—			(9		)	3			(6		)
Derivative and market value adjustments:
Unrealized (losses) gains	(1		)	1			—			7			(3		)	4
Reclassifications to other (expense) income, net	(1		)	—			(1		)	—			—			—
Other comprehensive income (loss)	$	—		$	—		$	—		$	(66	)	$	11		$	(55	)

Accumulated Other Comprehensive Loss, Net Of Taxes

The table below presents the changes in the components of accumulated other comprehensive income, net of taxes (in millions).

	Three Months Ended March 31, 2014									Three Months Ended March 31, 2013
	Currency Translation Adjustments			Derivative and Market Value Adjustments			Accumulated Other Comprehensive Income			Currency Translation Adjustments			Derivative and Market Value Adjustments		Accumulated Other Comprehensive Income (Loss)
Beginning balance	$	(8	)	$	12		$	4		$	(1	)	$	5	$	4
Other comprehensive income (loss) before reclassifications	1			—			1			(53		)	4		(49		)
Reclassifications from accumulated other comprehensive income to net income	—			(1		)	(1		)	(6		)	—		(6		)
Ending balance	$	(7	)	$	11		$	4		$	(60	)	$	9	$	(51	)

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Content Rights (Narrative) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Content Rights [Abstract]
Content expense	$ 377	$ 256
Content Impairments	$ 6	$ 4

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Equity-Based Compensation (Narrative) (Details) (USD $) In Millions, except Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Common Shares Authorized for Issuance	72,000,000
Number of Common Shares Available for Grant	62,000,000
Total liability for cash-settled awards	$ 55		$ 138
Cash receipts resulting from stock option exercises	10	16
Deferred Compensation Share-based Arrangements, Liability, Current	35		85
PRSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	108
Weighted average period of time, in years, compensation expense related to units is expected to be recognized	1 year 69 days
Outstanding as of Period End	2,000,000
Outstanding as of Period End, Weighted-Average Grant Price	$ 64.20
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	43
Weighted average period of time, in years, compensation expense related to units is expected to be recognized	2 years 361 days
Outstanding as of Period End	1,000,000
Outstanding as of Period End, Weighted-Average Grant Price	$ 67.75
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	38
Weighted average period of time, in years, compensation expense related to units is expected to be recognized	1 year 285 days
Cash receipts resulting from stock option exercises	8	15
Weighted average grant date fair value of stock options granted	$ 21.85
Unit Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average fair value of units awards outstanding	$ 41.98
Employee Service Share-based Compensation, Cash Flow Effect, Cash Used to Settle Awards	52	49
Unrecognized compensation cost	12
Weighted average period of time, in years, compensation expense related to units is expected to be recognized	277 days
Outstanding as of Period End	600,000		1,600,000
Outstanding as of Beginning of Period, Weighted-Average Grant Price	$ 38.46
Outstanding as of Period End, Weighted-Average Grant Price	$ 41.17
SARs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average fair value Of SARs outstanding	$ 17.66
Employee Service Share-based Compensation, Cash Flow Effect, Cash Used to Settle Awards	29	10
Unrecognized compensation cost	64
Weighted average period of time, in years, compensation expense related to units is expected to be recognized	1 year 358 days
Outstanding as of Period End	6,000,000		3,200,000
Outstanding as of Beginning of Period, Weighted-Average Grant Price	$ 55.20
Outstanding as of Period End, Weighted-Average Grant Price	$ 74.71
Employee Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period	21,000	17,000
Proceeds from Issuance of Shares under Incentive and Share-based Compensation Plans, Excluding Stock Options	$ 2	$ 1

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Redeemable Noncontrolling Interests (Narrative) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		0 Months Ended		48 Months Ended	0 Months Ended		6 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Jan. 10, 2013 Discovery Japan [Member]	Mar. 31, 2014 Discovery Japan [Member]	Jan. 09, 2017 Discovery Japan [Member] Forecast [Member]	Apr. 09, 2013 SBS Nordic [Member]	Mar. 31, 2014 SBS Nordic [Member]	May 31, 2015 SBS Nordic [Member] Forecast [Member]
Redeemable Noncontrolling Interest [Line Items]
Initial fair value of redeemable noncontrolling interests of acquired businesses	$ 0	$ 35	$ 35			$ 6
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners				20.00%			20.00%
Terms Of Put Arrangement					4 years			193 days

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Acquisitions And Dispositions (Schedule of Purchase Price Allocation) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended				0 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Apr. 09, 2013 SBS Nordic [Member]	Jan. 10, 2013 Discovery Japan [Member]
Business Acquisition [Line Items]
Goodwill	$ 7,370		$ 7,341	$ 779	$ 103
Intangible assets				1,001	100
Content				248
Other assets acquired				212	25
Currency translation adjustment	0	6			6
Cash				106	4
Remeasurement gain on previously held equity interest	0	(92)			(92)
Liabilities assumed				(278)	(55)
Deferred tax liabilities				(243)
Redeemable noncontrolling interests	(37)		(36)	(6)	(35)
Carrying value of previously held equity interest					(3)
Net assets acquired				$ 1,819	$ 53

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Acquisitions And Dispositions

3 Months Ended

Mar. 31, 2014

Business Combinations [Abstract]

Acquisitions And Dispositions

ACQUISITIONS AND DISPOSITIONS

Acquisitions

Eurosport

On January 21, 2014, the Company entered into an agreement with TF1 to acquire a controlling interest in Eurosport International ("Eurosport"), a leading pan-European sports media platform, by increasing Discovery’s ownership stake from 20% to 51% for cash of approximately €253 million ($343 million) subject to working capital adjustments. The Company expects the acquisition to close in the second quarter of 2014 subject to the receipt of necessary regulatory approvals. Due to regulatory constraints the acquisition initially excludes Eurosport France, a subsidiary of Eurosport. The Company will retain a 20% equity interest in Eurosport France and a commitment to acquire another 31% ownership interest beginning in 2015, contingent upon resolution of all regulatory matters. The flagship Eurosport network focuses on regionally popular sports, such as tennis, skiing, cycling and motor sports. Eurosport’s brands and platforms also include Eurosport HD (high definition simulcast), Eurosport 2, Eurosport 2 HD (high definition simulcast), Eurosport Asia-Pacific, and Eurosportnews. The acquisition is intended to increase the growth of Eurosport and enhance the Company's pay television offerings in Europe. TF1 will have the right to put the entirety of its remaining 49% non-controlling interest to the Company during two windows for two and a half years after completion of this acquisition. If the put is exercised during the first 90 day window beginning July 1, 2015, it has a floor value equal to the fair value per share of Eurosport on the closing date of the Company's acquisition of the controlling interest. If the put is exercised during the second 90 day window beginning July 1, 2016, it is priced at the then-current fair value per share of Eurosport, or as may be agreed between the Company and TF1. (See Note 7.)

SBS Nordic

On April 9, 2013, the Company acquired the general entertainment television and radio business operations ("SBS Nordic") of Prosiebensat.1 Media AG for cash of approximately €1.4 billion ($1.8 billion) including closing purchase price adjustments. SBS Nordic has operations in Sweden, Norway, Denmark, Finland and England. The acquisition of SBS Nordic supports the Company’s strategic priority of increasing its presence in key international markets and is a component of the Company's International Networks segment.

The Company used discounted cash flow ("DCF") analyses, which represent Level 3 fair value measurements, to assess the components of its purchase price allocation. The table below presents the fair value allocation of the purchase price to the assets and liabilities acquired (in millions).

	April 9, 2013
Goodwill	$	779
Intangible assets	1,001
Content	248
Other assets acquired	212
Cash	106
Liabilities assumed	(278		)
Deferred tax liabilities	(243		)
Redeemable noncontrolling interest	(6		)
Net assets acquired	$	1,819

The goodwill reflects the workforce, synergies and increased Nordic region market penetration expected from combining the operations of SBS Nordic and the Company. The goodwill recorded as part of this acquisition is not amortizable for tax purposes. Intangible assets primarily consist of broadcast licenses, distribution and advertising customer relationships, advertiser backlog and trademarks with a weighted average estimated useful life of 8 years.

Discovery Japan

On January 10, 2013, the Company purchased an additional 30% of Discovery Japan for $53 million. Discovery Japan operates Discovery Channel and Animal Planet in Japan. As of December 31, 2012, Discovery and Jupiter Telecommunications Co., Ltd ("J:COM") each owned a 50% interest in Discovery Japan, and Discovery accounted for its 50% interest using the equity method of accounting. Discovery consolidated Discovery Japan on January 10, 2013 and recognized a gain of $92 million to account for the difference between the carrying value and the fair value of the previously held 50% equity interest. The gain is included in other (expense) income, net in the Company's consolidated statements of operations (see Note 13). The Company used a combination of a DCF analysis and market-based valuation methodologies, which represent Level 3 fair value measurements, to measure the fair value of Discovery Japan and to perform its purchase price allocation.

The table below presents the allocation of the purchase price to the assets and liabilities acquired (in millions).

	January 10, 2013
Goodwill	$	103
Intangible assets	100
Other assets acquired	25
Currency translation adjustment	6
Cash	4
Remeasurement gain on previously held equity interest	(92		)
Liabilities assumed	(55		)
Redeemable noncontrolling interest	(35		)
Carrying value of previously held equity interest	(3		)
Net assets acquired	$	53

The terms of the agreement provide J:COM with a right to put its 20% noncontrolling interest to Discovery for cash at any time and Discovery with the right to call J:COM's 20% noncontrolling interest beginning January 2018. As J:COM's put right is outside the control of the Company, J:COM's 20% noncontrolling interest is presented as redeemable noncontrolling interest outside of stockholders' equity on the Company's consolidated balance sheet (see Note 8).

The goodwill reflects the synergies and increased regional flexibility expected from controlling the operations of Discovery Japan and is included in the International Networks segment. The goodwill recorded as part of this acquisition is not amortizable for tax purposes. Intangible assets are primarily distribution customer relationships.

Other

OnFebruary 28, 2014, the Company acquired a factual entertainment production company in the U.K. for total consideration of £12 million ($20 million), including accrued purchase liabilities and net of cash acquired. The acquisition helps to strengthen the Company's content sourcing capabilities. As part of the acquisition, the Company recognized $28 million of goodwill.

In 2013, the Company acquired several other unrelated businesses for total consideration of $88 million, net of cash acquired. The Company recorded $67 million and $24 million of goodwill and intangible assets, respectively, in connection with these acquisitions. The acquisitions included a television station in Sweden and an education business in the U.K. The goodwill reflects the synergies and market expansion expected from combining the operations of these acquisitions with the Company.

The operations of acquisitions are included in the Company's consolidated financial statements as of their respective acquisition dates.

Consolidation of Business Combinations

The operations of each of the business combinations discussed above were included in the consolidated financial statements as of each of their respective acquisition dates. The following table presents the revenue and earnings of the businesses acquired after March 31, 2013 as reported within the consolidated financial statements for the three months ended March 31, 2014 (in millions).

	Three Months Ended March 31,
	2014
Revenue	$	184
Net loss	$	(20	)

Disposition

HSW

On April 18, 2014, Discovery entered into a definitive agreement to sell HowStuffWorks, LLC, a commercial website which uses various media to explain complex concepts, terminology and mechanisms, to Blucora, Inc. (“Blucora”). Blucora will pay Discovery $45 million and Discovery expects to recognize a pretax gain of approximately $30 million upon completion of the sale. The transaction is expected to close in the second quarter of 2014, subject to the satisfaction or waiver of customary closing conditions.

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Redeemable Noncontrolling Interest (Schedule of Redeemable Noncontrolling Interest) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Noncontrolling Interest [Abstract]
Beginning balance	$ 36	$ 0
Initial fair value of redeemable noncontrolling interests of acquired businesses	0	35
Net income attributable to redeemable noncontrolling interests	1	0
Currency translation on redemption values	1	0
Adjustments to redemption value	(1)	(2)
Ending balance	$ 37	$ 33

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Reportable Segments (Tables)

3 Months Ended

Mar. 31, 2014

Segment Reporting [Abstract]

Schedule Of Revenues By Segment

	Three Months Ended March 31,
	2014		2013
U.S. Networks	$	708	$	686
International Networks	671		444
Education	32		27
Corporate and inter-segment eliminations	—		(1		)
Total revenues	$	1,411	$	1,156

Schedule Of Adjusted OIBDA By Segment

	Three Months Ended March 31,
	2014			2013
U.S. Networks	$	383		$	377
International Networks	221			187
Education	6			7
Corporate and inter-segment eliminations	(85		)	(71		)
Total Adjusted OIBDA	$	525		$	500

Schedule Of Reconciliation Of Adjusted OIBDA To Operating Income

	Three Months Ended March 31,
	2014			2013
Total Adjusted OIBDA	$	525		$	500
Amortization of deferred launch incentives	(2		)	(5		)
Mark-to-market equity-based compensation	(3		)	(46		)
Depreciation and amortization	(83		)	(32		)
Restructuring charges	(3		)	(1		)
Operating income	$	434		$	416

Schedule Of Total Assets By Segment

	March 31, 2014		December 31, 2013
U.S. Networks	$	2,919	$	2,978
International Networks	5,228		4,792
Education	118		125
Corporate and inter-segment eliminations	7,046		7,084
Total assets	$	15,311	$	14,979

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Earnings Per Share (Policies)

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share, Policy [Policy Text Block]

Earnings per share is calculated by dividing the applicable income available to Discovery Communications, Inc. stockholders from continuing operations by the weighted average number of shares outstanding. The Company applies the two-class method for calculating earnings per share. The two-class method calculates earnings per share by distinguishing between the classes of securities based on the proportionate participation rights of each award type in the Company's undistributed income. Adjustments to the carrying amount of redeemable noncontrolling interests to redemption value, excluding currency translation adjustments, are reflected in earnings per share using the two-class method, similar to the treatment of a dividend.

At March 31, 2014 and 2013, the weighted average number of basic and diluted shares outstanding included the Company’s outstanding Series A, Series B and Series C common stock, as well as its outstanding Series A and Series C convertible preferred stock, as the holder of each common and preferred series legally participates equally in any per share distributions. Diluted earnings per share adjusts basic earnings per share for the dilutive effect of the assumed exercise of outstanding equity awards using the treasury stock method. Only outstanding PRSUs whose performance targets have been achieved as of the last day of the most recent period are included in the dilutive effect calculation.

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Equity (Policies)

3 Months Ended

Mar. 31, 2014

Equity [Abstract]

Treasury Stock [Policy Text Block]

Repurchased stock is recorded in treasury stock on the consolidated balance sheet.

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Debt (Parenthetical) (Details)	3 Months Ended
	Mar. 31, 2014
3.70% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.70%
Long-term debt, frequency of periodic payments	semi-annual
Debt Instrument, Maturity Date	Jun. 01, 2015
5.625% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	5.625%
Long-term debt, frequency of periodic payments	semi-annual
Debt Instrument, Maturity Date	Aug. 15, 2019
5.05% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	5.05%
Long-term debt, frequency of periodic payments	semi-annual
Debt Instrument, Maturity Date	Jun. 01, 2020
4.375% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.375%
Long-term debt, frequency of periodic payments	semi-annual
Debt Instrument, Maturity Date	Jun. 15, 2021
2.375% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.375%
Long-term debt, frequency of periodic payments	annual
Debt Instrument, Maturity Date	Mar. 07, 2022
3.30% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.30%
Long-term debt, frequency of periodic payments	semi-annual
Debt Instrument, Maturity Date	May 15, 2022
3.25% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.25%
Long-term debt, frequency of periodic payments	semi-annual
Debt Instrument, Maturity Date	Apr. 01, 2023
6.35% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	6.35%
Long-term debt, frequency of periodic payments	semi-annual
Debt Instrument, Maturity Date	Jun. 01, 2040
4.95% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.95%
Long-term debt, frequency of periodic payments	semi-annual
Debt Instrument, Maturity Date	May 15, 2042
4.875% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.875%
Long-term debt, frequency of periodic payments	semi-annual
Debt Instrument, Maturity Date	Apr. 01, 2043

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Condensed Consolidating Financial Statements (Tables)

3 Months Ended

Mar. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Balance Sheet

Condensed Consolidating Balance Sheet

March 31, 2014

(in millions)

	Discovery		DCH		DCL		Non-Guarantor Subsidiaries of DCL		Other Non- Guarantor Subsidiaries of Discovery		Reclassifications  and Eliminations			Discovery and Subsidiaries
ASSETS
Current assets:
Cash and cash equivalents	$	—	$	—	$	126	$	631	$	—	$	—		$	757
Receivables, net	—		—		405		936		—		—			1,341
Content rights, net	—		—		—		307		—		—			307
Deferred income taxes	—		—		33		43		—		—			76
Prepaid expenses and other current assets	—		—		157		102		—		—			259
Intercompany trade receivables, net	—		—		313		—		—		(313		)	—
Total current assets	—		—		1,034		2,019		—		(313		)	2,740
Investment in and advances to subsidiaries	6,266		6,275		7,620		—		4,191		(24,352		)	—
Noncurrent content rights, net	—		—		628		1,274		—		—			1,902
Goodwill	—		—		3,769		3,601		—		—			7,370
Intangible assets, net	—		—		318		1,198		—		—			1,516
Equity method investments	—		—		330		750		—		—			1,080
Other noncurrent assets	—		20		174		529		—		(20		)	703
Total assets	$	6,266	$	6,295	$	13,873	$	9,371	$	4,191	$	(24,685	)	$	15,311
LIABILITIES AND EQUITY
Current liabilities:
Current portion of debt	$	—	$	—	$	6	$	12	$	—	$	—		$	18
Other current liabilities	85		8		416		726		—		—			1,235
Intercompany trade payables, net	—		—		—		313		—		(313		)	—
Total current liabilities	85		8		422		1,051		—		(313		)	1,253
Noncurrent portion of debt	—		—		6,753		147		—		—			6,900
Other noncurrent liabilities	1		—		423		515		21		(20		)	940
Total liabilities	86		8		7,598		1,713		21		(333		)	9,093
Redeemable noncontrolling interests	—		—		—		37		—		—			37
Equity attributable to Discovery Communications, Inc.	6,180		6,287		6,275		7,620		4,170		(24,352		)	6,180
Noncontrolling interests	—		—		—		1		—		—			1
Total equity	6,180		6,287		6,275		7,621		4,170		(24,352		)	6,181
Total liabilities and equity	$	6,266	$	6,295	$	13,873	$	9,371	$	4,191	$	(24,685	)	$	15,311

Condensed Consolidating Balance Sheet

December 31, 2013

(in millions)

	Discovery		DCH		DCL		Non-Guarantor Subsidiaries of DCL		Other Non- Guarantor Subsidiaries of Discovery		Reclassifications  and Eliminations			Discovery and Subsidiaries
ASSETS
Current assets:
Cash and cash equivalents	$	—	$	—	$	123	$	285	$	—	$	—		$	408
Receivables, net	—		—		449		922		—		—			1,371
Content rights, net	—		—		12		265		—		—			277
Deferred income taxes	—		—		31		42		—		—			73
Prepaid expenses and other current assets	52		—		143		86		—		—			281
Intercompany trade receivables, net	—		—		286		—		—		(286		)	—
Total current assets	52		—		1,044		1,600		—		(286		)	2,410
Investment in and advances to consolidated subsidiaries	6,147		6,155		7,135		—		4,112		(23,549		)	—
Noncurrent content rights, net	—		—		615		1,268		—		—			1,883
Goodwill	—		—		3,769		3,572		—		—			7,341
Intangible assets, net	—		—		320		1,245		—		—			1,565
Equity method investments	—		—		330		757		—		—			1,087
Other noncurrent assets	—		19		173		521		—		(20		)	693
Total assets	$	6,199	$	6,174	$	13,386	$	8,963	$	4,112	$	(23,855	)	$	14,979
LIABILITIES AND EQUITY
Current liabilities:
Current portion of debt	$	—	$	—	$	5	$	12	$	—	$	—		$	17
Other current liabilities	1		6		421		849		—		—			1,277
Intercompany trade payables, net	—		—		—		286		—		(286		)	—
Total current liabilities	1		6		426		1,147		—		(286		)	1,294
Noncurrent portion of debt	—		—		6,343		139		—		—			6,482
Other noncurrent liabilities	2		—		462		505		21		(20		)	970
Total liabilities	3		6		7,231		1,791		21		(306		)	8,746
Redeemable noncontrolling interests	—		—		—		36		—		—			36
Equity attributable to Discovery Communications, Inc.	6,196		6,168		6,155		7,135		4,091		(23,549		)	6,196
Noncontrolling interests	—		—		—		1		—		—			1
Total equity	6,196		6,168		6,155		7,136		4,091		(23,549		)	6,197
Total liabilities and equity	$	6,199	$	6,174	$	13,386	$	8,963	$	4,112	$	(23,855	)	$	14,979

Condensed Consolidating Statement Of Operations

Condensed Consolidating Statement of Operations

Three Months Ended March 31, 2014

(in millions)

	Discovery			DCH		DCL			Non-Guarantor Subsidiaries of DCL			Other Non- Guarantor Subsidiaries of Discovery		Reclassifications  and Eliminations			Discovery and Subsidiaries
Revenues	$	—		$	—	$	451		$	962		$	—	$	(2	)	$	1,411
Costs of revenues, excluding depreciation and amortization	—			—		111			373			—		(2		)	482
Selling, general and administrative	3			—		64			342			—		—			409
Depreciation and amortization	—			—		10			73			—		—			83
Restructuring charges	—			—		—			3			—		—			3
Total costs and expenses	3			—		185			791			—		(2		)	977
Operating (loss) income	(3		)	—		266			171			—		—			434
Equity in earnings of subsidiaries	232			232		108			—			155		(727		)	—
Interest expense	—			—		(79		)	(2		)	—		—			(81		)
Income from equity investees, net	—			—		3			10			—		—			13
Other income (expense), net	—			—		4			(21		)	—		—			(17		)
Income from continuing operations before income taxes	229			232		302			158			155		(727		)	349
Benefit from (provision for) income taxes	1			—		(70		)	(49		)	—		—			(118		)
Net income	230			232		232			109			155		(727		)	231
Net income attributable to redeemable noncontrolling interests	—			—		—			—			—		(1		)	(1		)
Net income available to Discovery Communications, Inc.	$	230		$	232	$	232		$	109		$	155	$	(728	)	$	230

Condensed Consolidating Statement of Operations

Three Months Ended March 31, 2013

(in millions)

	Discovery			DCH		DCL			Non-Guarantor Subsidiaries of DCL			Other Non- Guarantor Subsidiaries of Discovery		Reclassifications  and Eliminations			Discovery and Subsidiaries
Revenues	$	—		$	—	$	443		$	718		$	—	$	(5	)	$	1,156
Costs of revenues, excluding depreciation and amortization	—			—		110			236			—		(4		)	342
Selling, general and administrative	3			—		72			291			—		(1		)	365
Depreciation and amortization	—			—		9			23			—		—			32
Restructuring charges	—			—		—			1			—		—			1
Total costs and expenses	3			—		191			551			—		(5		)	740
Operating (loss) income	(3		)	—		252			167			—		—			416
Equity in earnings of subsidiaries	233			233		157			—			155		(778		)	—
Interest expense	—			—		(67		)	(1		)	—		—			(68		)
Losses from equity investees, net	—			—		—			(2		)	—		—			(2		)
Other (expense) income, net	—			—		(59		)	90			—		—			31
Income from continuing operations before income taxes	230			233		283			254			155		(778		)	377
Benefit from (provision for) income taxes	1			—		(50		)	(97		)	—		—			(146		)
Net income available to Discovery Communications, Inc.	$	231		$	233	$	233		$	157		$	155	$	(778	)	$	231

Condensed Consolidating Statement Of Comprehensive Income

Condensed Consolidating Statement of Comprehensive Income

Three Months Ended March 31, 2014

(in millions)

	Discovery			DCH			DCL			Non-Guarantor Subsidiaries of DCL			Other Non- Guarantor Subsidiaries of Discovery			Reclassifications  and Eliminations			Discovery and Subsidiaries
Net income	$	230		$	232		$	232		$	109		$	155		$	(727	)	$	231
Other comprehensive income (loss), net of tax:
Currency translation adjustments	1			1			1			3			1			(6		)	1
Derivative and market value adjustments	(1		)	(1		)	(1		)	(1		)	(1		)	4			(1		)
Comprehensive income	230			232			232			111			155			(729		)	231
Comprehensive income attributable to redeemable noncontrolling interests	—			—			—			—			—			(1		)	(1		)
Comprehensive income attributable to Discovery Communications, Inc.	$	230		$	232		$	232		$	111		$	155		$	(730	)	$	230

Condensed Consolidating Statement of Comprehensive Income

Three Months Ended March 31, 2013

(in millions)

	Discovery			DCH			DCL			Non-Guarantor Subsidiaries of DCL			Other Non- Guarantor Subsidiaries of Discovery			Reclassifications  and Eliminations			Discovery and Subsidiaries
Net income	$	231		$	233		$	233		$	157		$	155		$	(778	)	$	231
Other comprehensive (loss) income, net of tax:
Currency translation adjustments	(59		)	(59		)	(59		)	(59		)	(39		)	216			(59		)
Derivative and market value adjustments	4			4			4			1			3			(12		)	4
Comprehensive income attributable to Discovery Communications, Inc.	$	176		$	178		$	178		$	99		$	119		$	(574	)	$	176

Condensed Consolidating Statement Of Cash Flows

Condensed Consolidating Statement of Cash Flows

Three Months Ended March 31, 2014

(in millions)

	Discovery			DCH			DCL			Non-Guarantor Subsidiaries of DCL			Other Non- Guarantor Subsidiaries of Discovery		Reclassifications  and Eliminations		Discovery and Subsidiaries
Operating Activities
Cash provided by operating activities	$	133		$	2		$	24		$	82		$	—	$	—	$	241
Investing Activities
Purchases of property and equipment	—			—			(7		)	(21		)	—		—		(28		)
Business acquisitions, net of cash acquired	—			—			—			(17		)	—		—		(17		)
Distributions from equity method investees	—			—			—			16			—		—		16
Returns from equity method investees, net	—			—			—			1			—		—		1
Cash used in investing activities	—			—			(7		)	(21		)	—		—		(28		)
Financing Activities
Borrowings from debt, net of discount and issuance costs	—			—			412			—			—		—		412
Principal repayments of capital lease obligations	—			—			(1		)	(3		)	—		—		(4		)
Repurchases of common stock	(266		)	—			—			—			—		—		(266		)
Cash proceeds from equity-based plans, net	(1		)	—			—			1			—		—		—
Inter-company contributions and other financing activities, net	134			(2		)	(425		)	291			—		—		(2		)
Cash (used in) provided by financing activities	(133		)	(2		)	(14		)	289			—		—		140
Effect of exchange rate changes on cash and cash equivalents	—			—			—			(4		)	—		—		(4		)
Net change in cash and cash equivalents	—			—			3			346			—		—		349
Cash and cash equivalents, beginning of period	—			—			123			285			—		—		408
Cash and cash equivalents, end of period	$	—		$	—		$	126		$	631		$	—	$	—	$	757

Condensed Consolidating Statement of Cash Flows

Three Months Ended March 31, 2013

(in millions)

	Discovery			DCH			DCL			Non-Guarantor Subsidiaries of DCL			Other Non- Guarantor Subsidiaries of Discovery		Reclassifications  and Eliminations		Discovery and Subsidiaries
Operating Activities
Cash (used in) provided by operating activities	$	(72	)	$	7		$	83		$	113		$	—	$	—	$	131
Investing Activities
Purchases of property and equipment	—			—			(11		)	(15		)	—		—		(26		)
Business acquisition, net of cash acquired	—			—			—			(60		)	—		—		(60		)
Hedging instruments, net	—			—			(39		)	—			—		—		(39		)
Investments in and advances to equity method investees	—			—			—			(25		)	—		—		(25		)
Cash used in investing activities	—			—			(50		)	(100		)	—		—		(150		)
Financing Activities
Borrowings from debt, net of discount and issuance costs	—			—			1,186			—			—		—		1,186
Principal repayments of capital lease obligations	—			—			(2		)	(9		)	—		—		(11		)
Cash proceeds from equity-based plans, net	7			—			—			—			—		—		7
Inter-company contributions and other financing activities, net	65			(7		)	(48		)	(10		)	—		—		—
Cash provided (used in) by financing activities	72			(7		)	1,136			(19		)	—		—		1,182
Effect of exchange rate changes on cash and cash equivalents	—			—			—			(4		)	—		—		(4		)
Net change in cash and cash equivalents	—			—			1,169			(10		)	—		—		1,159
Cash and cash equivalents, beginning of period	—			—			1,022			179			—		—		1,201
Cash and cash equivalents, end of period	$	—		$	—		$	2,191		$	169		$	—	$	—	$	2,360

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Reportable Segments (Policies)

3 Months Ended

Mar. 31, 2014

Segment Reporting [Abstract]

Segment Reporting, Policy [Policy Text Block]

The accounting policies of the reportable segments are the same as the Company’s, except that certain inter-segment transactions that are eliminated for consolidation are not eliminated at the segment level as they are treated as a third-party sales transactions in determining segment performance. Inter-segment transactions, which primarily include the purchase of advertising and content between segments, were not significant for the periods presented.

Adjusted OIBDA, Policy [Policy Text Block]

The Company believes Adjusted OIBDA is relevant to investors because it allows them to analyze the operating performance of each segment using the same metric management uses. The Company excludes mark-to-market equity-based compensation, exit and restructuring charges, certain impairment charges, and gains and losses on business and asset dispositions from the calculation of Adjusted OIBDA due to their volatility. The Company also excludes depreciation of fixed assets, amortization of intangible assets and deferred launch incentives, as these amounts do not represent cash payments in the current reporting period.

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Acquisitions And Dispositions (Tables)

3 Months Ended

Mar. 31, 2014

Business Acquisition [Line Items]

Schedule of Results of Operations for Business Combinations Included in Consolidated Results [Table Text Block]

The following table presents the revenue and earnings of the businesses acquired after March 31, 2013 as reported within the consolidated financial statements for the three months ended March 31, 2014 (in millions).

	Three Months Ended March 31,
	2014
Revenue	$	184
Net loss	$	(20	)

SBS Nordic [Member]

Business Acquisition [Line Items]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The table below presents the fair value allocation of the purchase price to the assets and liabilities acquired (in millions).

	April 9, 2013
Goodwill	$	779
Intangible assets	1,001
Content	248
Other assets acquired	212
Cash	106
Liabilities assumed	(278		)
Deferred tax liabilities	(243		)
Redeemable noncontrolling interest	(6		)
Net assets acquired	$	1,819

Discovery Japan [Member]

Business Acquisition [Line Items]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The table below presents the allocation of the purchase price to the assets and liabilities acquired (in millions).

	January 10, 2013
Goodwill	$	103
Intangible assets	100
Other assets acquired	25
Currency translation adjustment	6
Cash	4
Remeasurement gain on previously held equity interest	(92		)
Liabilities assumed	(55		)
Redeemable noncontrolling interest	(35		)
Carrying value of previously held equity interest	(3		)
Net assets acquired	$	53

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Description Of Business And Basis Of Presentation

3 Months Ended

Mar. 31, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Description Of Business And Basis Of Presentation

DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION

Description of Business

Discovery Communications, Inc. (“Discovery” or the “Company”) is a global media company that provides content across multiple distribution platforms throughout the world, and through digital distribution arrangements. The Company also has a diversified portfolio of web-native networks and other digital media services and develops and sells curriculum-based education products and services. The Company classifies its operations in three segments: U.S. Networks, consisting principally of domestic television networks and websites; International Networks, consisting principally of international television networks, radio stations and websites; and Education, consisting of educational curriculum-based product and service offerings. Financial information for Discovery’s reportable segments is discussed in Note 16.

Basis of Presentation

The consolidated financial statements include the accounts of Discovery and its majority-owned subsidiaries in which a controlling interest is maintained. Inter-company accounts and transactions between consolidated entities have been eliminated in consolidation.

Reclassifications

Transactions denominated in currencies other than subsidiaries' functional currencies are recorded based on exchange rates at the time such transactions arise. Changes in exchange rates with respect to amounts recorded in the consolidated balance sheets related to these items will result in unrealized foreign currency transaction gains and losses based upon period-end exchange rates. The Company also records realized foreign currency transaction gains and losses upon settlement of the transactions. Beginning January 1, 2014, the Company reclassified foreign currency losses, net as described above from selling, general and administrative expense to other (expense) income, net on the consolidated statements of operations for all periods presented. For the three months ended March 31, 2013, foreign currency losses of $2 million were reclassified from selling, general and administrative expense to other (expense) income, net to conform to the current year presentation.

Unaudited Interim Financial Statements

These consolidated financial statements are unaudited; however, in the opinion of management, they reflect all adjustments consisting only of normal recurring adjustments necessary to state fairly the financial position, results of operations and cash flows for the periods presented in conformity with U.S. generally accepted accounting principles (“GAAP”) applicable to interim periods. The results of operations for the interim periods presented are not necessarily indicative of results for the full year or future periods. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in Discovery’s Annual Report on Form 10-K for the year ended December 31, 2013 (the “2013 Form 10-K”).

Use of Estimates

The preparation of financial statements in accordance with GAAP requires management to make estimates, judgments and assumptions that affect the amounts and disclosures reported in the consolidated financial statements and accompanying notes. Management continually re-evaluates its estimates, judgments and assumptions, and management’s assessments could change. Actual results may differ materially from those estimates.

Estimates inherent in the preparation of the consolidated financial statements include accounting for asset impairments, revenue recognition, allowances for doubtful accounts, content rights, depreciation and amortization, business combinations, equity-based compensation, income taxes, other financial instruments, contingencies, and the determination of whether the Company is the primary beneficiary of entities in which it holds variable interests.

Accounting and Reporting Pronouncements Adopted

Presentation of Unrecognized Tax Benefits

In July 2013, the Financial Accounting Standards Board ("FASB") issued guidance stating that a liability related to an unrecognized tax benefit should be presented as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carry forward to the extent such deferred tax asset is available at the reporting date to settle any additional income taxes that would result from the disallowance of a tax position. The Company prospectively adopted the new guidance effective January 1, 2014 and reclassified $11 million in liabilities related to unrecognized tax benefits from other noncurrent liabilities to noncurrent deferred income tax liabilities on the consolidated balance sheet as of March 31, 2014.

Accounting and Reporting Pronouncements Not Yet Adopted

Reporting Discontinued Operations

In April 2014, the FASB issued guidance that changes the criteria for reporting a discontinued operation. Under the new pronouncement, disposal of a component of an entity representing a strategic shift with major effect on its operations and financial results is a discontinued operation. The Company is required to adopt the guidance prospectively for all disposals or components of its business classified as held for sale during fiscal periods beginning after December 15, 2014 and is currently evaluating what impact, if any, the adoption will have to the presentation of its consolidated financial statements.

Concentrations Risk

Customers

The Company has long-term contracts with distributors around the world, including the largest distributors in the U.S. and major international distributors. In the U.S., approximately 90% of distribution revenues come from the top 10 distributors. Outside of the U.S., approximately 50% of distribution revenue comes from the top 10 distributors. Agreements in place with the major cable and satellite operators in the U.S. expire at various times beginning in 2014 through 2020. Failure to secure a renewal or a renewal on less favorable terms may have a material adverse effect on the Company’s financial condition and results of operations. Not only could the Company experience a reduction in affiliate revenue, but it could also experience a reduction in advertising revenue which is impacted by affiliate subscriber levels and viewership.

No individual customer accounted for more than 10% of total consolidated revenues for the three months ended March 31, 2014 or 2013. As of March 31, 2014 and December 31, 2013, the Company’s trade receivables do not represent a significant concentration of credit risk as the customers and markets in which the Company operates are varied and dispersed across many geographic areas.

Financial Institutions

Cash and cash equivalents are maintained with several financial institutions. The Company has deposits held with banks that exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions of reputable credit and, therefore, bear minimal credit risk.

Lender Counterparties

There is a risk that the counterparties associated with the Company’s revolving credit facility will not be available to fund as obligated under the terms of the facility. If funding under the revolving credit facility is unavailable, the Company may have to acquire a replacement credit facility from different counterparties at a higher cost or may be unable to find a suitable replacement. Typically, the Company seeks to manage these exposures by contracting with experienced large financial institutions and monitoring the credit quality of its lenders. As of March 31, 2014, the Company did not anticipate nonperformance by any of its counterparties.

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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

Schedule Of Assets And Liabilities Measured On Recurring Basis

The tables below present assets and liabilities measured at fair value on a recurring basis (in millions).

		March 31, 2014
Category	Balance Sheet Location	Level 1		Level 2		Level 3		Total
Assets:
Trading securities:
Mutual funds	Prepaid expenses and other current assets	$	138	$	—	$	—	$	138
Available-for-sale securities:
Common stock	Other noncurrent assets	4		—		—		4
Derivatives:
Foreign exchange	Prepaid expenses and other current assets	—		4		—		4
Foreign exchange	Other noncurrent assets	—		8		—		8
Total assets		$	142	$	12	$	—	$	154
Liabilities:
Deferred compensation plan	Accrued liabilities	$	138	$	—	$	—	$	138
Derivatives:
Foreign exchange	Accrued liabilities	—		3		—		3
TF1 put right	Accrued liabilities	—		—		27		27
Total liabilities		$	138	$	3	$	27	$	168

		December 31, 2013
Category	Balance Sheet Location	Level 1		Level 2		Level 3		Total
Assets:
Trading securities:
Mutual funds	Prepaid expenses and other current assets	$	129	$	—	$	—	$	129
Available-for-sale securities:
Common stock	Other noncurrent assets	4		—		—		4
Derivatives:
Foreign exchange	Prepaid expenses and other current assets	—		4		—		4
Foreign exchange	Other noncurrent assets	—		9		—		9
Total assets		$	133	$	13	$	—	$	146
Liabilities:
Deferred compensation plan	Accrued liabilities	$	129	$	—	$	—	$	129
Derivatives:
Foreign exchange	Accrued liabilities	—		1		—		1
TF1 put right	Accrued liabilities	—		—		20		20
Total liabilities		$	129	$	1	$	20	$	150

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Commitments, Contingencies, And Guarantees (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract]
Carrying value of gaurantees to equity method investees	$ 0	$ 0
Material amounts for indemnifications or other contingencies	$ 0	$ 0

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Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Reconciliation Of Income And Weighted Average Number Of Shares Outstanding

The table below sets forth the computation of the weighted average number of shares outstanding utilized in determining basic and diluted earnings per share (in millions, except per share amounts).

	Three Months Ended March 31,
	2014			2013
Numerator:
Net income	$	231		$	231
Less:
Net income attributable to redeemable noncontrolling interests	(1		)	—
Redeemable noncontrolling interest adjustments to redemption value	1			2
Net income available to Discovery Communications, Inc. stockholders	$	231		$	233
Denominator:
Weighted average shares outstanding — basic	348			363
Weighted average dilutive effect of equity awards	4			4
Weighted average shares outstanding — diluted	352			367
Income per share:
Net income per share available to Discovery Communications, Inc. stockholders:
Basic	$	0.66		$	0.64
Diluted	$	0.66		$	0.63

Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

The table below presents the details of the equity-based awards that were excluded from the calculation of diluted earnings per share (in millions).

	Three Months Ended March 31,
	2014	2013
Anti-dilutive stock options, PRSUs and RSUs	1	—
PRSUs whose performance targets have not been achieved	2	1

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Content Rights (Schedule Of Content Rights) (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Licensed content rights:
Accumulated amortization	$ (3,593)	$ (3,389)
Total content rights, net	2,209	2,160
Current portion	(307)	(277)
Noncurrent portion	1,902	1,883
Media Content [Member]
Produced content rights:
Completed	3,761	3,566
In-production	318	334
Coproduced content rights:
Completed	653	637
In-production	85	84
Licensed content rights:
Acquired	927	880
Prepaid	58	48
Content rights, at cost	$ 5,802	$ 5,549

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Equity-Based Compensation (SARs) (Details) (SARs [Member], USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2014
SARs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding as of Beginning of Period	3.2
Granted	3.7
Settled	(0.9)
Outstanding as of Period End	6.0
Vested and expected to vest as of Period End	6.0
Outstanding as of Beginning of Period, Weighted-Average Grant Price	$ 55.20
Granted, Weighted-Average Grant Price	$ 86.51
Settled, Weighted-Average Grant Price	$ 53.65
Outstanding as of Period End, Weighted-Average Grant Price	$ 74.71
Vested and expected to vest as of Period End, Weighted-Average Grant Price	$ 74.71
Outstanding as of Period End, Weighted-Average Remaining Contractual Term (years)	2 years 15 days
Vested and expected to vest, weighted average remaining contractual term	2 years 15 days
Settled, Aggregate Intrinsic Value	$ 29
Outstanding, End of Period, Aggregate Intrinsic Value	62
Vested and expected to vest as of Period End, Aggregate Intrinsic Value	$ 62

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Consolidated Balance Sheets (USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Current assets:
Cash and cash equivalents	$ 757	$ 408
Receivables, net	1,341	1,371
Content rights, net	307	277
Deferred income taxes	76	73
Prepaid expenses and other current assets	259	281
Total current assets	2,740	2,410
Noncurrent content rights, net	1,902	1,883
Property and equipment, net	522	514
Goodwill	7,370	7,341
Intangible assets, net	1,516	1,565
Equity method investments	1,080	1,087
Other noncurrent assets	181	179
Total assets	15,311	14,979
Current liabilities:
Accounts payable	151	141
Accrued liabilities	947	992
Deferred revenues	137	144
Current portion of debt	18	17
Total current liabilities	1,253	1,294
Noncurrent portion of debt	6,900	6,482
Deferred income taxes	614	637
Other noncurrent liabilities	326	333
Total liabilities	9,093	8,746
Commitments and contingencies (Note 15)
Redeemable noncontrolling interests	37	36
Discovery Communications, Inc. stockholders' equity:
Additional paid-in capital	6,845	6,826
Treasury stock, at cost	(3,797)	(3,531)
Retained earnings	3,123	2,892
Accumulated other comprehensive income	4	4
Total Discovery Communications, Inc. stockholders' equity	6,180	6,196
Noncontrolling interests	1	1
Total equity	6,181	6,197
Total liabilities and equity	15,311	14,979
Series A Convertible Preferred Stock [Member]
Discovery Communications, Inc. stockholders' equity:
Convertible preferred stock	1	1
Series C Convertible Preferred Stock [Member]
Discovery Communications, Inc. stockholders' equity:
Convertible preferred stock	1	1
Series A Common Stock [Member]
Discovery Communications, Inc. stockholders' equity:
Common stock	1	1
Treasury stock, at cost	(171)
Series B Common Stock [Member]
Discovery Communications, Inc. stockholders' equity:
Convertible common stock	0	0
Series C Common Stock [Member]
Discovery Communications, Inc. stockholders' equity:
Common stock	2	2
Treasury stock, at cost	$ (3,600)

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Description Of Business And Basis Of Presentation (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014 Customers segments	Mar. 31, 2013 Customers
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number Of Reportable Segments	3
Concentration Risk [Line Items]
Foreign currency losses, net	$ 11	$ 2
Reclassification of liabilities related to unrecognized tax benefits to deferred tax assets due to adoption of new guidance	$ 11
Concentration Risk, number of customers	0	0
Sales [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	10.00%	10.00%
U.S. Networks [Member]
Concentration Risk [Line Items]
Number Of Cable And Satellite Operators United States	10
U.S. Networks [Member] | Distribution Revenue [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	90.00%
International Networks [Member]
Concentration Risk [Line Items]
Number Of Cable And Satellite Operators Non United States	10
International Networks [Member] | Distribution Revenue [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	50.00%

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Consolidated Statements Of Cash Flows (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Operating Activities
Net income	$ 231	$ 231
Adjustments to reconcile net income to cash provided by operating activities:
Equity-based compensation expense	19	60
Depreciation and amortization	83	32
Content amortization and impairment expense	350	231
Remeasurement gain on previously held equity interest	0	(92)
Equity in (earnings) losses and distributions from investments, net	(11)	4
Deferred income tax (benefit) expense	(35)	134
Launch amortization expense	2	5
Loss from hedging instruments, net	0	39
Other, net	11	25
Changes in operating assets and liabilities:
Receivables, net	31	(20)
Content rights	(391)	(301)
Accounts payable and accrued liabilities	6	(70)
Equity-based compensation liabilities	(81)	(59)
Income tax receivable	53	(62)
Other, net	(27)	(26)
Cash provided by operating activities	241	131
Investing Activities
Purchases of property and equipment	(28)	(26)
Business acquisitions, net of cash acquired	(17)	(60)
Hedging instruments, net	0	(39)
Distributions from equity method investee	16	0
Returns from (investments in) equity method investees, net	1	(25)
Cash used in investing activities	(28)	(150)
Financing Activities
Borrowings from debt, net of discount and issuance costs	412	1,186
Principal repayments of capital lease obligations	(4)	(11)
Repurchases of common stock	(266)	0
Cash proceeds from equity-based plans, net	0	7
Other financing activities, net	(2)	0
Cash provided by financing activities	140	1,182
Effect of exchange rate changes on cash and cash equivalents	(4)	(4)
Net change in cash and cash equivalents	349	1,159
Cash and cash equivalents, beginning of period	408	1,201
Cash and cash equivalents, end of period	757	2,360
Supplemental Cash Flow Information
Cash paid for taxes, net	(41)	(63)
Cash paid for interest, net	(20)	(29)
Noncash Investing and Financing Transactions
Repurchases of preferred stock	0	256
Assets acquired under capital lease arrangements	14	0
Accrued purchases of property and equipment	$ 7	$ 3

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Derivative Financial Instruments (Schedule of Comprehensive Income Impact of Items Designated as Hedges) (Details) (Foreign Exchange Contract [Member], Designated as Hedging Instrument [Member], USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net	$ (2)	$ 5
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ 1	$ 0

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Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The following table summarizes the notional amount and fair value of the Company's derivative positions (in millions).

		March 31, 2014				December 31, 2013
	Balance Sheet Location	Notional		Fair Value		Notional		Fair Value
Derivatives designated as hedges:
Foreign exchange	Prepaid expenses and other current assets	$	31	$	4	$	16	$	4
Foreign exchange	Other noncurrent assets	$	47	$	8	$	36	$	9
Interest rate	Other noncurrent assets	$	100	$	—	$	—	$	—
Foreign exchange	Accrued liabilities	$	87	$	2	$	—	$	—
Derivatives not designated as hedges:
Foreign exchange	Accrued liabilities	$	7	$	1	$	4	$	1
TF1 put right	Accrued liabilities	$	573	$	27	$	574	$	20
Foreign exchange	Other noncurrent liabilities	$	3	$	—	$	3	$	—

Schedule of Derivative Instruments Designated as Cash Flow Hedges, Effect on Other Comprehensive Income (Loss) [Table Text Block]

The following table presents the pretax impact of derivatives designated as cash flow hedges on income and other comprehensive income (loss) (in millions).

	Three Months Ended March 31,
	2014			2013
Foreign exchange
(Losses) gains recognized in accumulated other comprehensive income	$	(2	)	$	5
Gains reclassified from accumulated other comprehensive income into other (expense) income, net (effective portion)	$	1		$	—

Schedule of Gains (Losses) on Derivatives Not Designated as Hedges [Table Text Block]

The following table presents the pretax losses on derivatives not designated as hedges recognized in other (expense) income, net in the consolidated statement of operations (in millions).

	Three Months Ended March 31,
	2014			2013
Foreign exchange	$	—		$	(59	)
TF1 put right	(7		)	—
Total	$	(7	)	$	(59	)

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Equity (Components of Other Comprehensive Income (Loss)) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss), before Reclassification and Tax	$ 2	$ (64)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment Realized upon Sale or Liquidation, before Tax	0	(9)
Derivatives and market value adjustments, before tax amount	(1)	7
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives and Market Value Adjustments Included in Net Income, before Tax	(1)	0
Other comprehensive income, before tax amount	0	(66)
Other Comprehensive Income (Loss), Foreign Currency Translation Gain (Loss) Arising During Period, Tax	(1)	11
Other Comprehensive Income (Loss), Foreign Currency Translation Reclassification Adjustment Realized upon Sale or Liquidation, Tax	0	3
Derivatives and market value adjustments, tax expense	1	(3)
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives and Market Value Adjustments Included in Net Income, Tax	0	0
Other comprehensive income, tax expense	0	11
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	1	(53)
Currency translation adjustments, reclassifications to the income statement, net of tax	0	(6)
Derivatives and market value adjustments, Net-of-tax Amount	0	4
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives and Market Value Adjustments Included in Net Income, Net of Tax	(1)	0
Other comprehensive (loss) income	$ 0	$ (55)

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Commitments, Contingencies, And Guarantees

3 Months Ended

Mar. 31, 2014

Commitments and Contingencies Disclosure [Abstract]

Commitments, Contingencies, And Guarantees

COMMITMENTS, CONTINGENCIES, AND GUARANTEES

Commitments

In the normal course of business, the Company enters into various commitments, which primarily include programming and talent arrangements, operating and capital leases, employment contracts, arrangements to purchase various goods and services, future funding commitments to equity method investees (see Note 3), and the obligation to issue additional shares of preferred stock under the anti-dilution provisions of its outstanding preferred stock.

Contingencies

Put Rights

The Company has granted put rights related to certain equity method investments and consolidated subsidiaries: Harpo has the right to require the Company to purchase its interest in OWN for fair value at various dates (see Note 3); TF1 has the right to require the Company to purchase its remaining shares in Eurosport at various dates should Discovery acquire a controlling interest in Eurosport (see Note 4); and noncontrolling interests hold put rights that obligate the Company to purchase redeemable noncontrolling interests in consolidated subsidiaries (see Note 8).

Legal Matters

In the normal course of business, the Company experiences routine claims and legal proceedings. It is the opinion of the     Company’s management, based on information available at this time, that none of the current claims and proceedings will have a material adverse effect on the Company’s consolidated financial position, results of operations or cash flows.

Guarantees

The Company has guaranteed a certain level of operating performance for the Hub Network (see Note 3). There were no amounts recorded for guarantees associated with the Hub Network as of March 31, 2014 and December 31, 2013.

The Company may provide indemnities intended to allocate business transaction risks. Similarly, the Company may remain contingently liable for certain obligations of a divested business in the event that a third party does not fulfill its obligations under an indemnification obligation. The Company records a liability for its indemnification obligations and other contingent liabilities when probable and estimable. There were no material amounts for indemnifications or other contingencies recorded as of March 31, 2014 and December 31, 2013.

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Redeemable Noncontrolling Interests (Tables)

3 Months Ended

Mar. 31, 2014

Noncontrolling Interest [Abstract]

Redeemable Noncontrolling Interests [Table Text Block]

The table below presents the reconciliation of changes in redeemable noncontrolling interests (in millions).

	Three Months Ended March 31,
	2014			2013
Beginning balance	$	36		$	—
Initial fair value of redeemable noncontrolling interests of acquired businesses	—			35
Comprehensive income adjustments:
Net income attributable to redeemable noncontrolling interests	1			—
Currency translation on redemption values	1			—
Retained earnings adjustments:
Adjustments to redemption value	(1		)	(2		)
Ending balance	$	37		$	33

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Condensed Consolidating Financial Statements

3 Months Ended

Mar. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Financial Statements

CONDENSED CONSOLIDATING FINANCIAL STATEMENTS

Overview

As of March 31, 2014 and December 31, 2013, the senior notes outstanding (see Note 6) have been issued by DCL, a wholly-owned subsidiary of the Company, pursuant to Registration Statements on Form S-3 filed with the U.S. Securities and Exchange Commission (the “Shelf Registration”). The Company fully and unconditionally guarantees the senior notes on an unsecured basis. The Company, DCL, and/or Discovery Communications Holding, LLC (“DCH”), a wholly-owned subsidiary of the Company (collectively, the “Issuers”), may issue additional debt securities under the Shelf Registration that are fully and unconditionally guaranteed by the other Issuers.

Set forth below are condensed consolidating financial statements presenting the financial position, results of operations and comprehensive income, and cash flows of (i) the Company, (ii) DCH, (iii) DCL, (iv) the non-guarantor subsidiaries of DCL on a combined basis, (v) the other non-guarantor subsidiaries of the Company on a combined basis and (vi) reclassifications and eliminations necessary to arrive at the consolidated financial statement balances for the Company. DCL and the non-guarantor subsidiaries of DCL are the primary operating subsidiaries of the Company. DCL primarily includes Discovery Channel and TLC networks in the U.S. The non-guarantor subsidiaries of DCL include the Company’s other U.S. and international networks, education businesses, and most of the Company’s websites and other digital media services. The non-guarantor subsidiaries of DCL are wholly-owned subsidiaries of DCL with the exception of certain equity method investments. DCL is a wholly-owned subsidiary of DCH. The Company wholly owns DCH through a 33 1/3% direct ownership interest and a 66 2/3% indirect ownership interest through Discovery Holding Company (“DHC”), a wholly-owned subsidiary of the Company. DHC is included in the other non-guarantor subsidiaries of the Company.

Basis of Presentation

Solely for purposes of presenting the condensed consolidating financial statements, investments in the Company’s subsidiaries have been accounted for by their respective parent company using the equity method. Accordingly, in the following condensed consolidating financial statements, the equity method has been applied to (i) the Company’s interests in DCH and the other non-guarantor subsidiaries of the Company, (ii) DCH’s interest in DCL and (iii) DCL’s interests in the non-guarantor subsidiaries of DCL. Inter-company accounts and transactions have been eliminated to arrive at the consolidated financial statement amounts for the Company. The Company’s accounting bases in all subsidiaries, including goodwill and recognized intangible assets, have been “pushed-down” to the applicable subsidiaries.

The operations of certain of the Company’s international subsidiaries are excluded from the Company’s consolidated U.S. income tax return. Tax expense related to permanent differences has been allocated to the entity that created the difference. Tax expense related to temporary differences has been allocated to the entity that created the difference, where identifiable. The remaining temporary differences are allocated to each entity included in the Company’s consolidated U.S. income tax return based on each entity’s relative pretax income. Deferred taxes have been allocated based upon the temporary differences between the carrying amounts of the respective assets and liabilities of the applicable entities.

The condensed consolidating financial statements should be read in conjunction with the consolidated financial statements of the Company.

Condensed Consolidating Balance Sheet

March 31, 2014

(in millions)

	Discovery		DCH		DCL		Non-Guarantor Subsidiaries of DCL		Other Non- Guarantor Subsidiaries of Discovery		Reclassifications  and Eliminations			Discovery and Subsidiaries
ASSETS
Current assets:
Cash and cash equivalents	$	—	$	—	$	126	$	631	$	—	$	—		$	757
Receivables, net	—		—		405		936		—		—			1,341
Content rights, net	—		—		—		307		—		—			307
Deferred income taxes	—		—		33		43		—		—			76
Prepaid expenses and other current assets	—		—		157		102		—		—			259
Intercompany trade receivables, net	—		—		313		—		—		(313		)	—
Total current assets	—		—		1,034		2,019		—		(313		)	2,740
Investment in and advances to subsidiaries	6,266		6,275		7,620		—		4,191		(24,352		)	—
Noncurrent content rights, net	—		—		628		1,274		—		—			1,902
Goodwill	—		—		3,769		3,601		—		—			7,370
Intangible assets, net	—		—		318		1,198		—		—			1,516
Equity method investments	—		—		330		750		—		—			1,080
Other noncurrent assets	—		20		174		529		—		(20		)	703
Total assets	$	6,266	$	6,295	$	13,873	$	9,371	$	4,191	$	(24,685	)	$	15,311
LIABILITIES AND EQUITY
Current liabilities:
Current portion of debt	$	—	$	—	$	6	$	12	$	—	$	—		$	18
Other current liabilities	85		8		416		726		—		—			1,235
Intercompany trade payables, net	—		—		—		313		—		(313		)	—
Total current liabilities	85		8		422		1,051		—		(313		)	1,253
Noncurrent portion of debt	—		—		6,753		147		—		—			6,900
Other noncurrent liabilities	1		—		423		515		21		(20		)	940
Total liabilities	86		8		7,598		1,713		21		(333		)	9,093
Redeemable noncontrolling interests	—		—		—		37		—		—			37
Equity attributable to Discovery Communications, Inc.	6,180		6,287		6,275		7,620		4,170		(24,352		)	6,180
Noncontrolling interests	—		—		—		1		—		—			1
Total equity	6,180		6,287		6,275		7,621		4,170		(24,352		)	6,181
Total liabilities and equity	$	6,266	$	6,295	$	13,873	$	9,371	$	4,191	$	(24,685	)	$	15,311

Condensed Consolidating Balance Sheet

December 31, 2013

(in millions)

	Discovery		DCH		DCL		Non-Guarantor Subsidiaries of DCL		Other Non- Guarantor Subsidiaries of Discovery		Reclassifications  and Eliminations			Discovery and Subsidiaries
ASSETS
Current assets:
Cash and cash equivalents	$	—	$	—	$	123	$	285	$	—	$	—		$	408
Receivables, net	—		—		449		922		—		—			1,371
Content rights, net	—		—		12		265		—		—			277
Deferred income taxes	—		—		31		42		—		—			73
Prepaid expenses and other current assets	52		—		143		86		—		—			281
Intercompany trade receivables, net	—		—		286		—		—		(286		)	—
Total current assets	52		—		1,044		1,600		—		(286		)	2,410
Investment in and advances to consolidated subsidiaries	6,147		6,155		7,135		—		4,112		(23,549		)	—
Noncurrent content rights, net	—		—		615		1,268		—		—			1,883
Goodwill	—		—		3,769		3,572		—		—			7,341
Intangible assets, net	—		—		320		1,245		—		—			1,565
Equity method investments	—		—		330		757		—		—			1,087
Other noncurrent assets	—		19		173		521		—		(20		)	693
Total assets	$	6,199	$	6,174	$	13,386	$	8,963	$	4,112	$	(23,855	)	$	14,979
LIABILITIES AND EQUITY
Current liabilities:
Current portion of debt	$	—	$	—	$	5	$	12	$	—	$	—		$	17
Other current liabilities	1		6		421		849		—		—			1,277
Intercompany trade payables, net	—		—		—		286		—		(286		)	—
Total current liabilities	1		6		426		1,147		—		(286		)	1,294
Noncurrent portion of debt	—		—		6,343		139		—		—			6,482
Other noncurrent liabilities	2		—		462		505		21		(20		)	970
Total liabilities	3		6		7,231		1,791		21		(306		)	8,746
Redeemable noncontrolling interests	—		—		—		36		—		—			36
Equity attributable to Discovery Communications, Inc.	6,196		6,168		6,155		7,135		4,091		(23,549		)	6,196
Noncontrolling interests	—		—		—		1		—		—			1
Total equity	6,196		6,168		6,155		7,136		4,091		(23,549		)	6,197
Total liabilities and equity	$	6,199	$	6,174	$	13,386	$	8,963	$	4,112	$	(23,855	)	$	14,979

Condensed Consolidating Statement of Operations

Three Months Ended March 31, 2014

(in millions)

	Discovery			DCH		DCL			Non-Guarantor Subsidiaries of DCL			Other Non- Guarantor Subsidiaries of Discovery		Reclassifications  and Eliminations			Discovery and Subsidiaries
Revenues	$	—		$	—	$	451		$	962		$	—	$	(2	)	$	1,411
Costs of revenues, excluding depreciation and amortization	—			—		111			373			—		(2		)	482
Selling, general and administrative	3			—		64			342			—		—			409
Depreciation and amortization	—			—		10			73			—		—			83
Restructuring charges	—			—		—			3			—		—			3
Total costs and expenses	3			—		185			791			—		(2		)	977
Operating (loss) income	(3		)	—		266			171			—		—			434
Equity in earnings of subsidiaries	232			232		108			—			155		(727		)	—
Interest expense	—			—		(79		)	(2		)	—		—			(81		)
Income from equity investees, net	—			—		3			10			—		—			13
Other income (expense), net	—			—		4			(21		)	—		—			(17		)
Income from continuing operations before income taxes	229			232		302			158			155		(727		)	349
Benefit from (provision for) income taxes	1			—		(70		)	(49		)	—		—			(118		)
Net income	230			232		232			109			155		(727		)	231
Net income attributable to redeemable noncontrolling interests	—			—		—			—			—		(1		)	(1		)
Net income available to Discovery Communications, Inc.	$	230		$	232	$	232		$	109		$	155	$	(728	)	$	230

Condensed Consolidating Statement of Operations

Three Months Ended March 31, 2013

(in millions)

	Discovery			DCH		DCL			Non-Guarantor Subsidiaries of DCL			Other Non- Guarantor Subsidiaries of Discovery		Reclassifications  and Eliminations			Discovery and Subsidiaries
Revenues	$	—		$	—	$	443		$	718		$	—	$	(5	)	$	1,156
Costs of revenues, excluding depreciation and amortization	—			—		110			236			—		(4		)	342
Selling, general and administrative	3			—		72			291			—		(1		)	365
Depreciation and amortization	—			—		9			23			—		—			32
Restructuring charges	—			—		—			1			—		—			1
Total costs and expenses	3			—		191			551			—		(5		)	740
Operating (loss) income	(3		)	—		252			167			—		—			416
Equity in earnings of subsidiaries	233			233		157			—			155		(778		)	—
Interest expense	—			—		(67		)	(1		)	—		—			(68		)
Losses from equity investees, net	—			—		—			(2		)	—		—			(2		)
Other (expense) income, net	—			—		(59		)	90			—		—			31
Income from continuing operations before income taxes	230			233		283			254			155		(778		)	377
Benefit from (provision for) income taxes	1			—		(50		)	(97		)	—		—			(146		)
Net income available to Discovery Communications, Inc.	$	231		$	233	$	233		$	157		$	155	$	(778	)	$	231

Condensed Consolidating Statement of Comprehensive Income

Three Months Ended March 31, 2014

(in millions)

	Discovery			DCH			DCL			Non-Guarantor Subsidiaries of DCL			Other Non- Guarantor Subsidiaries of Discovery			Reclassifications  and Eliminations			Discovery and Subsidiaries
Net income	$	230		$	232		$	232		$	109		$	155		$	(727	)	$	231
Other comprehensive income (loss), net of tax:
Currency translation adjustments	1			1			1			3			1			(6		)	1
Derivative and market value adjustments	(1		)	(1		)	(1		)	(1		)	(1		)	4			(1		)
Comprehensive income	230			232			232			111			155			(729		)	231
Comprehensive income attributable to redeemable noncontrolling interests	—			—			—			—			—			(1		)	(1		)
Comprehensive income attributable to Discovery Communications, Inc.	$	230		$	232		$	232		$	111		$	155		$	(730	)	$	230

Condensed Consolidating Statement of Comprehensive Income

Three Months Ended March 31, 2013

(in millions)

	Discovery			DCH			DCL			Non-Guarantor Subsidiaries of DCL			Other Non- Guarantor Subsidiaries of Discovery			Reclassifications  and Eliminations			Discovery and Subsidiaries
Net income	$	231		$	233		$	233		$	157		$	155		$	(778	)	$	231
Other comprehensive (loss) income, net of tax:
Currency translation adjustments	(59		)	(59		)	(59		)	(59		)	(39		)	216			(59		)
Derivative and market value adjustments	4			4			4			1			3			(12		)	4
Comprehensive income attributable to Discovery Communications, Inc.	$	176		$	178		$	178		$	99		$	119		$	(574	)	$	176

Condensed Consolidating Statement of Cash Flows

Three Months Ended March 31, 2014

(in millions)

	Discovery			DCH			DCL			Non-Guarantor Subsidiaries of DCL			Other Non- Guarantor Subsidiaries of Discovery		Reclassifications  and Eliminations		Discovery and Subsidiaries
Operating Activities
Cash provided by operating activities	$	133		$	2		$	24		$	82		$	—	$	—	$	241
Investing Activities
Purchases of property and equipment	—			—			(7		)	(21		)	—		—		(28		)
Business acquisitions, net of cash acquired	—			—			—			(17		)	—		—		(17		)
Distributions from equity method investees	—			—			—			16			—		—		16
Returns from equity method investees, net	—			—			—			1			—		—		1
Cash used in investing activities	—			—			(7		)	(21		)	—		—		(28		)
Financing Activities
Borrowings from debt, net of discount and issuance costs	—			—			412			—			—		—		412
Principal repayments of capital lease obligations	—			—			(1		)	(3		)	—		—		(4		)
Repurchases of common stock	(266		)	—			—			—			—		—		(266		)
Cash proceeds from equity-based plans, net	(1		)	—			—			1			—		—		—
Inter-company contributions and other financing activities, net	134			(2		)	(425		)	291			—		—		(2		)
Cash (used in) provided by financing activities	(133		)	(2		)	(14		)	289			—		—		140
Effect of exchange rate changes on cash and cash equivalents	—			—			—			(4		)	—		—		(4		)
Net change in cash and cash equivalents	—			—			3			346			—		—		349
Cash and cash equivalents, beginning of period	—			—			123			285			—		—		408
Cash and cash equivalents, end of period	$	—		$	—		$	126		$	631		$	—	$	—	$	757

Condensed Consolidating Statement of Cash Flows

Three Months Ended March 31, 2013

(in millions)

	Discovery			DCH			DCL			Non-Guarantor Subsidiaries of DCL			Other Non- Guarantor Subsidiaries of Discovery		Reclassifications  and Eliminations		Discovery and Subsidiaries
Operating Activities
Cash (used in) provided by operating activities	$	(72	)	$	7		$	83		$	113		$	—	$	—	$	131
Investing Activities
Purchases of property and equipment	—			—			(11		)	(15		)	—		—		(26		)
Business acquisition, net of cash acquired	—			—			—			(60		)	—		—		(60		)
Hedging instruments, net	—			—			(39		)	—			—		—		(39		)
Investments in and advances to equity method investees	—			—			—			(25		)	—		—		(25		)
Cash used in investing activities	—			—			(50		)	(100		)	—		—		(150		)
Financing Activities
Borrowings from debt, net of discount and issuance costs	—			—			1,186			—			—		—		1,186
Principal repayments of capital lease obligations	—			—			(2		)	(9		)	—		—		(11		)
Cash proceeds from equity-based plans, net	7			—			—			—			—		—		7
Inter-company contributions and other financing activities, net	65			(7		)	(48		)	(10		)	—		—		—
Cash provided (used in) by financing activities	72			(7		)	1,136			(19		)	—		—		1,182
Effect of exchange rate changes on cash and cash equivalents	—			—			—			(4		)	—		—		(4		)
Net change in cash and cash equivalents	—			—			1,169			(10		)	—		—		1,159
Cash and cash equivalents, beginning of period	—			—			1,022			179			—		—		1,201
Cash and cash equivalents, end of period	$	—		$	—		$	2,191		$	169		$	—	$	—	$	2,360

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Equity-Based Compensation (Equity-Based Compensation Expense) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation expense	$ 19	$ 60
Tax benefit recognized	7	14
PRSUs And RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation expense	11	12
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation expense	9	8
Unit Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation expense	1	24
SARs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation expense	$ (2)	$ 16

XML

Consolidated Statements Of Equity (USD $) In Millions	Total	Discovery Stockholders [Member]	Noncontrolling Interests [Member]
Beginning balance at Dec. 31, 2012	$ 6,293	$ 6,291	$ 2
Comprehensive income attributable to Parent	176	176
Comprehensive income attributable to noncontrolling interest			0
Comprehensive income excluding portion attributable to redeemable noncontrolling interest	176
Equity-based compensation	20	20	0
Issuance of common stock in connection with equity-based plans	16	16	0
Excess tax benefits from equity-based compensation	13	13	0
Tax settlements associated with equity-based plans	(22)	(22)	0
Other adjustments for equity-based plans	0	0	0
Repurchases of common stock	0	0	0
Repurchases of preferred stock	(256)	(256)	0
Redeemable noncontrolling interest adjustments to redemption value	2	2	0
Ending balance at Mar. 31, 2013	6,242	6,240	2
Beginning balance at Dec. 31, 2013	6,197	6,196	1
Comprehensive income attributable to Parent	230	230
Comprehensive income attributable to noncontrolling interest			0
Comprehensive income excluding portion attributable to redeemable noncontrolling interest	230
Equity-based compensation	20	20	0
Issuance of common stock in connection with equity-based plans	10	10	0
Excess tax benefits from equity-based compensation	16	16	0
Tax settlements associated with equity-based plans	(26)	(26)	0
Other adjustments for equity-based plans	(1)	(1)	0
Repurchases of common stock	(266)	(266)	0
Repurchases of preferred stock	0	0	0
Redeemable noncontrolling interest adjustments to redemption value	1	1	0
Ending balance at Mar. 31, 2014	$ 6,181	$ 6,180	$ 1

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Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
Series A Convertible Preferred Stock [Member]
Stock, par value	$ 0.01	$ 0.01
Stock, shares authorized	75,000,000	75,000,000
Stock, shares issued	71,000,000	71,000,000
Series C Convertible Preferred Stock [Member]
Stock, par value	$ 0.01	$ 0.01
Stock, shares authorized	75,000,000	75,000,000
Stock, shares issued	44,000,000	44,000,000
Series A Common Stock [Member]
Stock, par value	$ 0.01	$ 0.01
Stock, shares authorized	1,700,000,000	1,700,000,000
Stock, shares issued	150,000,000	150,000,000
Series B Common Stock [Member]
Stock, par value	$ 0.01	$ 0.01
Stock, shares authorized	100,000,000	100,000,000
Stock, shares issued	7,000,000	7,000,000
Series C Common Stock [Member]
Stock, par value	$ 0.01	$ 0.01
Stock, shares authorized	2,000,000,000	2,000,000,000
Stock, shares issued	151,000,000	151,000,000

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Equity-Based Compensation

3 Months Ended

Mar. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Equity-Based Compensation

EQUITY-BASED COMPENSATION

The Company has various incentive plans under which performance-based restricted stock units ("PRSUs"), time-based restricted stock units ("RSUs"), stock options, unit awards and stock appreciation rights ("SARs") have been issued. As of March 31, 2014, the Company has reserved a total of 72 million shares of its Series A and Series C common stock for future exercises of outstanding and future grants of stock options and future vesting of outstanding and future grants of PRSUs and RSUs. Upon exercise of stock options or vesting of PRSUs and RSUs, the Company issues new shares from its existing authorized but unissued shares. There were 62 million shares of common stock in reserves that were available for future grant under incentive plans as of March 31, 2014.

During the three months ended March 31, 2014, the vesting and service requirements of equity-based awards granted were consistent with the arrangements disclosed in the 2013 Form 10-K.

Equity-Based Compensation Expense

The table below presents the components of equity-based compensation expense (in millions).

	Three Months Ended March 31,
	2014			2013
PRSUs and RSUs	$	11		$	12
Stock options	9			8
Unit awards	1			24
SARs	(2		)	16
Total equity-based compensation expense	$	19		$	60
Tax benefit recognized	$	7		$	14

Compensation expense for all awards is recorded in selling, general and administrative expense in the consolidated statements of operations. As of March 31, 2014 and December 31, 2013, the Company recorded total liabilities for cash-settled awards of $55 million and $138 million, respectively. The current portion of the liability for cash-settled awards was $35 million and $85 million as of March 31, 2014 and December 31, 2013, respectively.

Equity-Based Award Activity

PRSUs and RSUs

The table below presents PRSU and RSU activity (in millions, except years and weighted-average grant price).

	PRSUs and RSUs		Weighted-Average Grant Price		Weighted-Average Remaining Contractual Term (years)	Aggregate Fair Value
Outstanding as of December 31, 2013	2.4		$	46.00
Granted	1.6		83.32
Converted	(0.7	)	38.55			$	58
Forfeited	(0.1	)	78.88
Outstanding as of March 31, 2014	3.2		$	65.15	1.5	$	267
Vested and expected to vest as of March 31, 2014	3.1		$	64.88	1.4	$	258

PRSUs represent the contingent right to receive shares of the Company’s Series A common stock based on continuous service and the Company's achievement of certain operating performance targets. As of March 31, 2014, there were approximately 2 million outstanding PRSUs with a weighted-average grant price of $64.20. As of March 31, 2014, unrecognized compensation cost, net of expected forfeitures, related to PRSUs was $108 million, which is expected to be recognized over a weighted-average period of 1.2 years.

RSUs represent the contingent right to receive shares of the Company’s Series A common stock based on continuous service. As of March 31, 2014, there were slightly less than 1 million outstanding RSUs with a weighted-average grant price of $67.75. As of March 31, 2014, unrecognized compensation cost, net of expected forfeitures, related to RSUs was $43 million, which is expected to be recognized over a weighted-average period of 3.0 years.

Stock Options

The table below presents stock option activity (in millions, except years and weighted-average exercise price).

	Stock Options		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Outstanding as of December 31, 2013	7.6		$	36.47
Granted	0.9		83.30
Exercised	(0.3	)	28.63			$	15
Outstanding as of March 31, 2014	8.2		$	41.71	4.5	$	335
Vested and expected to vest as of March 31, 2014	8.0		$	41.00	4.5	$	333
Exercisable as of March 31, 2014	5.4		$	29.71	4.0	$	283

The Company received cash payments from the exercise of stock options totaling $8 million and $15 million during the three months ended March 31, 2014 and 2013, respectively. The weighted average grant date fair value of stock options granted during the three months ended March 31, 2014 was $21.85 per option. As of March 31, 2014, there was $38 million of unrecognized compensation cost, net of expected forfeitures, related to stock options, which is expected to be recognized over a weighted-average period of 1.8 years.

Unit Awards

The table below presents unit award activity (in millions, except years and weighted-average grant price).

	Unit Awards		Weighted- Average Grant Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Outstanding as of December 31, 2013	1.6		$	38.46
Settled	(1.0	)	36.96			$	52
Outstanding as of March 31, 2014	0.6		$	41.17	0.8	$	24
Vested and expected to vest as of March 31, 2014	0.6		$	41.17	0.8	$	24

Unit awards represent the contingent right to receive a cash payment for the amount by which the vesting price of Company stock exceeds the grant price. Because unit awards are cash-settled, the Company remeasures the fair value and compensation expense of outstanding unit awards each reporting date until settlement. As of March 31, 2014, the weighted-average fair value of unit awards outstanding was $41.98 per unit award. The Company made cash payments to settle vested unit awards totaling $52 million and $49 million during the three months ended March 31, 2014 and 2013, respectively. As of March 31, 2014, there was $12 million of unrecognized compensation cost, net of estimated forfeitures, related to unit awards, which is expected to be recognized over a weighted-average period of 0.8 years.

SARs

The table below presents SAR award activity (in millions, except years and weighted-average grant price).

	SARs		Weighted- Average Grant Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Outstanding as of December 31, 2013	3.2		$	55.20
Granted	3.7		86.51
Settled	(0.9	)	53.65			$	29
Outstanding as of March 31, 2014	6.0		$	74.71	2.0	$	62
Vested and expected to vest as of March 31, 2014	6.0		$	74.71	2.0	$	62

As of March 31, 2014, the weighted-average fair value of SARs outstanding was $17.66 per award. The Company made cash payments of $29 million and $10 million to settle exercised SARs during the three months ended March 31, 2014 and 2013, respectively. As of March 31, 2014, there was $64 million of unrecognized compensation cost, net of estimated forfeitures, related to SARs, which is expected to be recognized over a weighted-average period of 2.0 years.

Employee Stock Purchase Plan

The Discovery Communications, Inc. 2011 Employee Stock Purchase Plan (the "DESPP") enables eligible employees to purchase shares of the Company’s common stock through payroll deductions or other permitted means. During the three months ended March 31, 2014 and 2013, the Company issued 21 thousand and 17 thousand shares under the DESPP and received cash totaling $2 million and $1 million, respectively.

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Condensed Consolidating Financial Statements (Condensed Consolidating Statement Of Comprehensive Income) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Net income	$ 231	$ 231
Currency translation adjustments	1	(59)
Derivative and market value adjustments	(1)	4
Comprehensive income	231	176
Comprehensive income attributable to redeemable noncontrolling interests	(1)	0
Comprehensive income attributable to Discovery Communications, Inc.	230	176
Reclassifications And Eliminations [Member]
Net income	(727)	(778)
Currency translation adjustments	(6)	216
Derivative and market value adjustments	4	(12)
Comprehensive income	(729)
Comprehensive income attributable to redeemable noncontrolling interests	(1)
Comprehensive income attributable to Discovery Communications, Inc.	(730)	(574)
Discovery [Member]
Net income	230	231
Currency translation adjustments	1	(59)
Derivative and market value adjustments	(1)	4
Comprehensive income	230
Comprehensive income attributable to redeemable noncontrolling interests	0
Comprehensive income attributable to Discovery Communications, Inc.	230	176
DCH [Member]
Net income	232	233
Currency translation adjustments	1	(59)
Derivative and market value adjustments	(1)	4
Comprehensive income	232
Comprehensive income attributable to redeemable noncontrolling interests	0
Comprehensive income attributable to Discovery Communications, Inc.	232	178
DCL [Member]
Net income	232	233
Currency translation adjustments	1	(59)
Derivative and market value adjustments	(1)	4
Comprehensive income	232
Comprehensive income attributable to redeemable noncontrolling interests	0
Comprehensive income attributable to Discovery Communications, Inc.	232	178
Non-Guarantor Subsidiaries Of DCL [Member]
Net income	109	157
Currency translation adjustments	3	(59)
Derivative and market value adjustments	(1)	1
Comprehensive income	111
Comprehensive income attributable to redeemable noncontrolling interests	0
Comprehensive income attributable to Discovery Communications, Inc.	111	99
Other Non-Guarantor Subsidiaries of Discovery [Member]
Net income	155	155
Currency translation adjustments	1	(39)
Derivative and market value adjustments	(1)	3
Comprehensive income	155
Comprehensive income attributable to redeemable noncontrolling interests	0
Comprehensive income attributable to Discovery Communications, Inc.	155	119
Discovery and Subsidiaries [Member]
Net income	231	231
Currency translation adjustments	1	(59)
Derivative and market value adjustments	(1)	4
Comprehensive income	231
Comprehensive income attributable to redeemable noncontrolling interests	(1)
Comprehensive income attributable to Discovery Communications, Inc.	$ 230	$ 176

XML

Document And Entity Information	3 Months Ended
	Mar. 31, 2014	Apr. 29, 2014 Series A Common Stock [Member]	Apr. 29, 2014 Series B Common Stock [Member]	Apr. 29, 2014 Series C Common Stock [Member]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q1
Entity Registrant Name	Discovery Communications, Inc.
Entity Central Index Key	0001437107
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		147,610,321	6,543,969	75,369,764

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Income Taxes

3 Months Ended

Mar. 31, 2014

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

The Company's provisions for income taxes on income from continuing operations were $118 million and $146 million, and effective income tax rates were 34% and 39% for the three months ended March 31, 2014 and 2013, respectively.

The following table reconciles the Company's effective income tax rate to the U.S. federal statutory income tax rate of 35%.

	Three Months Ended March 31,
	2014		2013
U.S. federal statutory income tax rate	35	%	35	%
State and local income taxes, net of federal tax benefit	3	%	3	%
Effect of foreign operations	(1	)%	1	%
Domestic production activity deductions	(3	)%	1	%
Change in uncertain tax positions	(2	)%	—	%
Remeasurement gain on previously held equity interest	—	%	(2	)%
Other, net	2	%	1	%
Effective income tax rate	34	%	39	%

The Company and its subsidiaries file income tax returns in the U.S. and various state and foreign jurisdictions. The Company is currently under examination by the IRS for its 2011 and 2010 consolidated federal income tax returns. The Company does not anticipate any material adjustments. With few exceptions, the Company is no longer subject to audit by any jurisdiction for years prior to 2006.

The Company's reserves for uncertain tax positions at March 31, 2014 and December 31, 2013 totaled $181 million and $185 million, respectively. It is reasonably possible that the total amount of unrecognized tax benefits related to certain of the Company's uncertain tax positions could decrease as much as $22 million within the next twelve months as a result of ongoing audits, lapses of statutes of limitations or regulatory developments.

As of March 31, 2014 and December 31, 2013, the Company had accrued approximately $14 million and $11 million, respectively, of total interest and penalties payable related to unrecognized tax benefits. The Company recognizes interest and penalties related to unrecognized tax benefits as a component of income tax expense.

XML

Related Party Transactions (Narrative) (Details) (Board of Directors Chairman [Member])	Mar. 31, 2014
Liberty Global [Member]
Related Party Transaction [Line Items]
Aggregate Voting Power Percentage Of A Related Party	27.00%
Liberty Media [Member]
Related Party Transaction [Line Items]
Aggregate Voting Power Percentage Of A Related Party	47.00%

XML

Condensed Consolidating Financial Statements (Condensed Consolidating Statement Of Operations) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Revenues	$ 1,411	$ 1,156
Costs of revenues, excluding depreciation and amortization	482	342
Selling, general and administrative	409	365
Depreciation and amortization	83	32
Restructuring charges	3	1
Total costs and expenses	977	740
Operating (loss) income	434	416
Interest expense	(81)	(68)
Earnings (losses) from equity method investees, net	13	(2)
Other (expense) income, net	(17)	31
Income from continuing operations before income taxes	349	377
Benefit from (provision for) income taxes	(118)	(146)
Net income	231	231
Net Income Attributable to Redeemable Noncontrolling Interests	(1)	0
Net income available to Discovery Communications, Inc.	230	231
Reclassifications And Eliminations [Member]
Revenues	(2)	(5)
Costs of revenues, excluding depreciation and amortization	(2)	(4)
Selling, general and administrative	0	(1)
Depreciation and amortization	0	0
Restructuring charges	0	0
Total costs and expenses	(2)	(5)
Operating (loss) income	0	0
Equity in earnings of subsidiaries	(727)	(778)
Interest expense	0	0
Earnings (losses) from equity method investees, net	0	0
Other (expense) income, net	0	0
Income from continuing operations before income taxes	(727)	(778)
Benefit from (provision for) income taxes	0	0
Net income	(727)	(778)
Net Income Attributable to Redeemable Noncontrolling Interests	(1)
Net income available to Discovery Communications, Inc.	(728)	(778)
Discovery [Member]
Revenues	0	0
Costs of revenues, excluding depreciation and amortization	0	0
Selling, general and administrative	3	3
Depreciation and amortization	0	0
Restructuring charges	0	0
Total costs and expenses	3	3
Operating (loss) income	(3)	(3)
Equity in earnings of subsidiaries	232	233
Interest expense	0	0
Earnings (losses) from equity method investees, net	0	0
Other (expense) income, net	0	0
Income from continuing operations before income taxes	229	230
Benefit from (provision for) income taxes	1	1
Net income	230	231
Net Income Attributable to Redeemable Noncontrolling Interests	0
Net income available to Discovery Communications, Inc.	230	231
DCH [Member]
Revenues	0	0
Costs of revenues, excluding depreciation and amortization	0	0
Selling, general and administrative	0	0
Depreciation and amortization	0	0
Restructuring charges	0	0
Total costs and expenses	0	0
Operating (loss) income	0	0
Equity in earnings of subsidiaries	232	233
Interest expense	0	0
Earnings (losses) from equity method investees, net	0	0
Other (expense) income, net	0	0
Income from continuing operations before income taxes	232	233
Benefit from (provision for) income taxes	0	0
Net income	232	233
Net Income Attributable to Redeemable Noncontrolling Interests	0
Net income available to Discovery Communications, Inc.	232	233
DCL [Member]
Revenues	451	443
Costs of revenues, excluding depreciation and amortization	111	110
Selling, general and administrative	64	72
Depreciation and amortization	10	9
Restructuring charges	0	0
Total costs and expenses	185	191
Operating (loss) income	266	252
Equity in earnings of subsidiaries	108	157
Interest expense	(79)	(67)
Earnings (losses) from equity method investees, net	3	0
Other (expense) income, net	4	(59)
Income from continuing operations before income taxes	302	283
Benefit from (provision for) income taxes	(70)	(50)
Net income	232	233
Net Income Attributable to Redeemable Noncontrolling Interests	0
Net income available to Discovery Communications, Inc.	232	233
Non-Guarantor Subsidiaries Of DCL [Member]
Revenues	962	718
Costs of revenues, excluding depreciation and amortization	373	236
Selling, general and administrative	342	291
Depreciation and amortization	73	23
Restructuring charges	3	1
Total costs and expenses	791	551
Operating (loss) income	171	167
Equity in earnings of subsidiaries	0	0
Interest expense	(2)	(1)
Earnings (losses) from equity method investees, net	10	(2)
Other (expense) income, net	(21)	90
Income from continuing operations before income taxes	158	254
Benefit from (provision for) income taxes	(49)	(97)
Net income	109	157
Net Income Attributable to Redeemable Noncontrolling Interests	0
Net income available to Discovery Communications, Inc.	109	157
Other Non-Guarantor Subsidiaries of Discovery [Member]
Revenues	0	0
Costs of revenues, excluding depreciation and amortization	0	0
Selling, general and administrative	0	0
Depreciation and amortization	0	0
Restructuring charges	0	0
Total costs and expenses	0	0
Operating (loss) income	0	0
Equity in earnings of subsidiaries	155	155
Interest expense	0	0
Earnings (losses) from equity method investees, net	0	0
Other (expense) income, net	0	0
Income from continuing operations before income taxes	155	155
Benefit from (provision for) income taxes	0	0
Net income	155	155
Net Income Attributable to Redeemable Noncontrolling Interests	0
Net income available to Discovery Communications, Inc.	155	155
Discovery and Subsidiaries [Member]
Revenues	1,411	1,156
Costs of revenues, excluding depreciation and amortization	482	342
Selling, general and administrative	409	365
Depreciation and amortization	83	32
Restructuring charges	3	1
Total costs and expenses	977	740
Operating (loss) income	434	416
Equity in earnings of subsidiaries	0	0
Interest expense	(81)	(68)
Earnings (losses) from equity method investees, net	13	(2)
Other (expense) income, net	(17)	31
Income from continuing operations before income taxes	349	377
Benefit from (provision for) income taxes	(118)	(146)
Net income	231	231
Net Income Attributable to Redeemable Noncontrolling Interests	(1)
Net income available to Discovery Communications, Inc.	$ 230	$ 231

XML

Consolidated Statements Of Operations (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Revenues:
Distribution	$ 657	$ 583
Advertising	689	508
Other	65	65
Total revenues	1,411	1,156
Costs and expenses:
Costs of revenues, excluding depreciation and amortization	482	342
Selling, general and administrative	409	365
Depreciation and amortization	83	32
Restructuring charges	3	1
Total costs and expenses	977	740
Operating income	434	416
Interest expense	(81)	(68)
Income (loss) from equity investees, net	13	(2)
Other (expense) income, net	(17)	31
Income from continuing operations before income taxes	349	377
Provision for income taxes	(118)	(146)
Net income	231	231
Net Income Attributable to Redeemable Noncontrolling Interests	(1)	0
Net income available to Discovery Communications, Inc.	$ 230	$ 231
Basic earnings per share available to Discovery Communications, Inc. stockholders:
Net income	$ 0.66	$ 0.64
Diluted earnings per share available to Discovery Communications, Inc. stockholders:
Net income	$ 0.66	$ 0.63
Weighted average shares outstanding:
Basic	348	363
Diluted	352	367

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Content Rights

3 Months Ended

Mar. 31, 2014

Content Rights [Abstract]

Content Rights

CONTENT RIGHTS

The table below presents the components of content rights (in millions).

	March 31, 2014			December 31, 2013
Produced content rights:
Completed	$	3,761		$	3,566
In-production	318			334
Coproduced content rights:
Completed	653			637
In-production	85			84
Licensed content rights:
Acquired	927			880
Prepaid	58			48
Content rights, at cost	5,802			5,549
Accumulated amortization	(3,593		)	(3,389		)
Total content rights, net	2,209			2,160
Current portion	(307		)	(277		)
Noncurrent portion	$	1,902		$	1,883

Content expense, which consists of content amortization, impairments and other production charges, is included in cost of revenues on the consolidated statements of operations. Content expense was $377 million and $256 million for the three months ended March 31, 2014 and 2013, respectively. Content impairments were $6 million and $4 million for the three months ended March 31, 2014 and 2013, respectively.

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Fair Value Measurements

3 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

Fair Value Measurements

FAIR VALUE MEASUREMENTS

Fair value is defined as the amount that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants. Assets and liabilities carried at fair value are classified in the following three categories:

Level 1	–	Quoted prices for identical instruments in active markets.
Level 2	–	Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets.
Level 3	–	Valuations derived from techniques in which one or more significant inputs are unobservable.

The tables below present assets and liabilities measured at fair value on a recurring basis (in millions).

		March 31, 2014
Category	Balance Sheet Location	Level 1		Level 2		Level 3		Total
Assets:
Trading securities:
Mutual funds	Prepaid expenses and other current assets	$	138	$	—	$	—	$	138
Available-for-sale securities:
Common stock	Other noncurrent assets	4		—		—		4
Derivatives:
Foreign exchange	Prepaid expenses and other current assets	—		4		—		4
Foreign exchange	Other noncurrent assets	—		8		—		8
Total assets		$	142	$	12	$	—	$	154
Liabilities:
Deferred compensation plan	Accrued liabilities	$	138	$	—	$	—	$	138
Derivatives:
Foreign exchange	Accrued liabilities	—		3		—		3
TF1 put right	Accrued liabilities	—		—		27		27
Total liabilities		$	138	$	3	$	27	$	168

		December 31, 2013
Category	Balance Sheet Location	Level 1		Level 2		Level 3		Total
Assets:
Trading securities:
Mutual funds	Prepaid expenses and other current assets	$	129	$	—	$	—	$	129
Available-for-sale securities:
Common stock	Other noncurrent assets	4		—		—		4
Derivatives:
Foreign exchange	Prepaid expenses and other current assets	—		4		—		4
Foreign exchange	Other noncurrent assets	—		9		—		9
Total assets		$	133	$	13	$	—	$	146
Liabilities:
Deferred compensation plan	Accrued liabilities	$	129	$	—	$	—	$	129
Derivatives:
Foreign exchange	Accrued liabilities	—		1		—		1
TF1 put right	Accrued liabilities	—		—		20		20
Total liabilities		$	129	$	1	$	20	$	150

Trading securities are comprised of investments in mutual funds held in a separate trust which are owned as part of the Company’s deferred compensation plan. The fair value of Level 1 trading securities was determined by reference to the quoted market price per unit in active markets multiplied by the number of units held without consideration of transaction costs. The fair value of the related deferred compensation plan liability was determined based on the fair value of the related investments elected by employees.

Available-for-sale securities represent equity investments in highly liquid instruments. The fair value of Level 1 available-for-sale securities was determined by reference to the quoted market price per unit in active markets multiplied by the number of units held without consideration of transaction costs.

Derivative financial instruments are comprised of foreign exchange contracts used by the Company to modify its exposure to market risks from foreign exchange rates. The fair value of Level 2 derivative financial instruments was determined using a market-based approach.

TF1 has the conditional right to require the Company to purchase its remaining shares in Eurosport at various dates should Discovery complete its planned acquisition of a controlling interest in Eurosport. Written puts that do not qualify for equity classification are reported at fair value and subsequently marked to fair value through earnings regardless of associated contingencies. The fair value measurement of the TF1 put was determined through the use of a Monte Carlo simulation model. The Monte Carlo model simulates the various sources of uncertainty impacting the value of a financial instrument and uses those simulations to develop an estimated fair value for the instrument. The valuation methodology for the TF1 put is based on unobservable estimates and judgments, and therefore represents a Level 3 fair value measurement. At March 31, 2014 and December 31, 2013, the estimated fair value of the TF1 put was $27 million and $20 million, respectively. There were no changes to the valuation methodology used to estimate the fair value of the TF1 put during the three months ended March 31, 2014. (See Note 2.)

In addition to the financial instruments listed in the tables above, the Company holds other financial instruments, including cash deposits, accounts receivable, accounts payable and debt. The carrying values for each approximated their fair values other than debt. The estimated fair value of the Company’s outstanding senior notes using quoted prices from over the counter markets, considered Level 2 inputs, was $7.3 billion and $6.6 billion as of March 31, 2014 and December 31, 2013, respectively.

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Reportable Segments

3 Months Ended

Mar. 31, 2014

Segment Reporting [Abstract]

Reportable Segments

REPORTABLE SEGMENTS

The Company’s reportable segments are determined based on (i) financial information reviewed by its chief operating decision maker (“CODM”), the Chief Executive Officer, (ii) internal management and related reporting structure, and (iii) the basis upon which the CODM makes resource allocation decisions.

The accounting policies of the reportable segments are the same as the Company’s, except that certain inter-segment transactions that are eliminated for consolidation are not eliminated at the segment level as they are treated as a third-party sales transactions in determining segment performance. Inter-segment transactions, which primarily include the purchase of advertising and content between segments, were not significant for the periods presented.

The Company evaluates the operating performance of its segments based on financial measures such as revenues and adjusted operating income before depreciation and amortization (“Adjusted OIBDA”). Adjusted OIBDA is defined as revenues less costs of revenues and selling, general and administrative expenses excluding: (i) mark-to-market equity-based compensation, (ii) depreciation and amortization, (iii) amortization of deferred launch incentives, (iv) exit and restructuring charges, (v) certain impairment charges and (vi) gains and losses on business and asset dispositions. The Company uses this measure to assess the operating results and performance of its segments, perform analytical comparisons, identify strategies to improve performance and allocate resources to each segment. The Company believes Adjusted OIBDA is relevant to investors because it allows them to analyze the operating performance of each segment using the same metric management uses. The Company excludes mark-to-market equity-based compensation, exit and restructuring charges, certain impairment charges, and gains and losses on business and asset dispositions from the calculation of Adjusted OIBDA due to their volatility. The Company also excludes depreciation of fixed assets, amortization of intangible assets and deferred launch incentives, as these amounts do not represent cash payments in the current reporting period. Certain corporate expenses are excluded from segment results to enable executive management to evaluate segment performance based upon the decisions of segment executives. Adjusted OIBDA should be considered in addition to, but not a substitute for, operating income, net income and other measures of financial performance reported in accordance with GAAP. The tables below present summarized financial information for each of the Company’s reportable segments and corporate and inter-segment eliminations (in millions).

Revenues by Segment

	Three Months Ended March 31,
	2014		2013
U.S. Networks	$	708	$	686
International Networks	671		444
Education	32		27
Corporate and inter-segment eliminations	—		(1		)
Total revenues	$	1,411	$	1,156

Adjusted OIBDA by Segment

	Three Months Ended March 31,
	2014			2013
U.S. Networks	$	383		$	377
International Networks	221			187
Education	6			7
Corporate and inter-segment eliminations	(85		)	(71		)
Total Adjusted OIBDA	$	525		$	500

Reconciliation of Total Adjusted OIBDA to Total Operating Income

	Three Months Ended March 31,
	2014			2013
Total Adjusted OIBDA	$	525		$	500
Amortization of deferred launch incentives	(2		)	(5		)
Mark-to-market equity-based compensation	(3		)	(46		)
Depreciation and amortization	(83		)	(32		)
Restructuring charges	(3		)	(1		)
Operating income	$	434		$	416

Total Assets by Segment

	March 31, 2014		December 31, 2013
U.S. Networks	$	2,919	$	2,978
International Networks	5,228		4,792
Education	118		125
Corporate and inter-segment eliminations	7,046		7,084
Total assets	$	15,311	$	14,979

Total assets for corporate and inter-segment eliminations include goodwill that is allocated to the Company’s segments to account for goodwill. The presentation of segment assets in the table above is consistent with the financial reports that are reviewed by the Company’s CODM.

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Earnings Per Share

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

EARNINGS PER SHARE

The table below sets forth the computation of the weighted average number of shares outstanding utilized in determining basic and diluted earnings per share (in millions, except per share amounts).

	Three Months Ended March 31,
	2014			2013
Numerator:
Net income	$	231		$	231
Less:
Net income attributable to redeemable noncontrolling interests	(1		)	—
Redeemable noncontrolling interest adjustments to redemption value	1			2
Net income available to Discovery Communications, Inc. stockholders	$	231		$	233
Denominator:
Weighted average shares outstanding — basic	348			363
Weighted average dilutive effect of equity awards	4			4
Weighted average shares outstanding — diluted	352			367
Income per share:
Net income per share available to Discovery Communications, Inc. stockholders:
Basic	$	0.66		$	0.64
Diluted	$	0.66		$	0.63

Earnings per share is calculated by dividing the applicable income available to Discovery Communications, Inc. stockholders from continuing operations by the weighted average number of shares outstanding. The Company applies the two-class method for calculating earnings per share. The two-class method calculates earnings per share by distinguishing between the classes of securities based on the proportionate participation rights of each award type in the Company's undistributed income. Adjustments to the carrying amount of redeemable noncontrolling interests to redemption value, excluding currency translation adjustments, are reflected in earnings per share using the two-class method, similar to the treatment of a dividend.

At March 31, 2014 and 2013, the weighted average number of basic and diluted shares outstanding included the Company’s outstanding Series A, Series B and Series C common stock, as well as its outstanding Series A and Series C convertible preferred stock, as the holder of each common and preferred series legally participates equally in any per share distributions. Diluted earnings per share adjusts basic earnings per share for the dilutive effect of the assumed exercise of outstanding equity awards using the treasury stock method. Only outstanding PRSUs whose performance targets have been achieved as of the last day of the most recent period are included in the dilutive effect calculation.

The table below presents the details of the equity-based awards that were excluded from the calculation of diluted earnings per share (in millions).

	Three Months Ended March 31,
	2014	2013
Anti-dilutive stock options, PRSUs and RSUs	1	—
PRSUs whose performance targets have not been achieved	2	1

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Reportable Segments (Schedule Of Revenues By Segment) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Segment Reporting Information [Line Items]
Total revenues	$ 1,411	$ 1,156
U.S. Networks [Member]
Segment Reporting Information [Line Items]
Revenues by segment	708	686
International Networks [Member]
Segment Reporting Information [Line Items]
Revenues by segment	671	444
Education [Member]
Segment Reporting Information [Line Items]
Revenues by segment	32	27
Corporate And Inter-Segment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues by segment	$ 0	$ (1)

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Redeemable Noncontrolling Interests

3 Months Ended

Mar. 31, 2014

Noncontrolling Interest [Abstract]

Redeemable Noncontrolling Interests Disclosure [Text Block]

REDEEMABLE NONCONTROLLING INTERESTS

In connection with the acquisition of Discovery Japan on January 10, 2013, the Company recognized $35 million for the fair value of J:COM's noncontrolling interest (see Note 2). The terms of the agreement provide J:COM with a right to put all, but not less than all, of its 20% noncontrolling interest to Discovery at any time for cash. For the first four years, the redemption value is the January 10, 2013 fair value denominated in Japanese yen; thereafter, the redemption value is the greater of the then current fair value or the January 10, 2013 fair value denominated in Japanese yen.

In connection with the acquisition of SBS Nordic on April 9, 2013, the Company recognized an additional $6 million for the fair value of a noncontrolling interest in one of its Danish subsidiaries (see Note 2). The noncontrolling interest holder has a conditional right from November 20, 2014 through May 31, 2015 to put its 20% ownership interest to SBS. The redemption value is denominated in Danish kroner.

Because exercise of these put rights is outside the Company's control, the noncontrolling interests are presented as redeemable noncontrolling interests outside of stockholders' equity on the Company's consolidated balance sheet. Redeemable noncontrolling interests reflected as of the balance sheet date are the greater of the noncontrolling interest balances adjusted for comprehensive income items or the redemption values remeasured at the period end foreign exchange rates (i.e. the "floor"). Adjustments to the carrying amount of redeemable noncontrolling interests to redemption value as a result of changes in exchange rates are reflected in currency translation adjustments, a component of other comprehensive income (loss); however, such currency translation adjustments to redemption value are allocated to Discovery stockholders only. Redeemable noncontrolling interest adjustments of redemption value to the floor are reflected in retained earnings and as an adjustment to income from continuing operations available to Discovery Communications, Inc. stockholders in the calculation of earnings per share. (See Note 12.)

The table below presents the reconciliation of changes in redeemable noncontrolling interests (in millions).

	Three Months Ended March 31,
	2014			2013
Beginning balance	$	36		$	—
Initial fair value of redeemable noncontrolling interests of acquired businesses	—			35
Comprehensive income adjustments:
Net income attributable to redeemable noncontrolling interests	1			—
Currency translation on redemption values	1			—
Retained earnings adjustments:
Adjustments to redemption value	(1		)	(2		)
Ending balance	$	37		$	33

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Derivative Financial Instruments Derivative Financial Instruments (Schedule of Pre-Tax Gains (Losses) of Items Not Designated as Hedges) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Pre-Tax Loss on Derivative Instruments Not Designated as Hedging Instruments	$ (7)	$ (59)
Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Pre-Tax Loss on Derivative Instruments Not Designated as Hedging Instruments	(7)	(59)
Foreign Exchange Forward [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Pre-Tax Loss on Derivative Instruments Not Designated as Hedging Instruments	0	(59)
Put Option [Member] | Not Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Pre-Tax Loss on Derivative Instruments Not Designated as Hedging Instruments	$ (7)	$ 0

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Debt

3 Months Ended

Mar. 31, 2014

Debt Disclosure [Abstract]

Debt

DEBT

The table below presents the components of outstanding debt (in millions).

	March 31, 2014			December 31, 2013
3.70% Senior Notes, semi-annual interest, due June 2015	$	850		$	850
5.625% Senior Notes, semi-annual interest, due August 2019	500			500
5.05% Senior Notes, semi-annual interest, due June 2020	1,300			1,300
4.375% Senior Notes, semi-annual interest, due June 2021	650			650
2.375% Senior Notes, euro denominated, annual interest, due March 2022(a)	412			—
3.30% Senior Notes, semi-annual interest, due May 2022	500			500
3.25% Senior Notes, semi-annual interest, due April 2023	350			350
6.35% Senior Notes, semi-annual interest, due June 2040	850			850
4.95% Senior Notes, semi-annual interest, due May 2042	500			500
4.875% Senior Notes, semi-annual interest, due April 2043	850			850
Capital lease obligations	175			165
Total debt	6,937			6,515
Unamortized discount	(19		)	(16		)
Debt, net	6,918			6,499
Current portion of debt	(18		)	(17		)
Noncurrent portion of debt	$	6,900		$	6,482

^(a) Remeasurement from euro using the exchange rate of €1.00 = $1.37 on March 31, 2014.

On March 7, 2014, Discovery Communications, LLC ("DCL"), a wholly-owned subsidiary of the Company, issued €300 million principal amount ($417 million, at issuance based on the exchange rate of $1.39 per euro at March 7, 2014) of 2.375% Senior Notes due March 7, 2022 (the "2014 Notes"). The proceeds received by DCL from the offering were net of a $3 million issuance discount and $2 million of deferred financing costs.

DCL has the option to redeem some or all of the 2014 Notes at any time prior to their maturity by paying a make-whole premium plus accrued and unpaid interest, if any, through the date of repurchase. Interest on the 2014 Notes is payable annually on March 7 of each year. The 2014 Notes are unsecured and rank equally in right of payment with all of DCL's other unsecured senior indebtedness and are fully and unconditionally guaranteed on an unsecured and unsubordinated basis by Discovery. The outstanding senior notes contain certain nonfinancial covenants, events of default and other customary provisions. The Company was in compliance with all covenants and customary provisions and there were no events of default as of March 31, 2014.

The 2014 Notes are denominated in euro and expose Discovery to fluctuations in foreign exchange rates in that currency. Discovery has reported the change in fair value for these 2014 Notes in earnings.

In addition to the debt instruments listed in the table above, the Company also has access to a $1.0 billion revolving credit facility. There were no amounts drawn under the revolving credit facility as of March 31, 2014 or December 31, 2013. If the Company were to draw on the revolving credit facility, outstanding balances would bear interest at a variable rate determined pursuant to the lending agreement. Balances outstanding under the revolving credit facility would be due on the expiration date which is October 12, 2017.

The revolving credit facility contains affirmative and negative covenants, including an interest coverage ratio and leverage ratio, events of default and other customary provisions. The Company was in compliance with all covenants and there were no events of default as of March 31, 2014 and December 31, 2013.

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Derivative Financial Instruments

3 Months Ended

Mar. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities Disclosure [Text Block]

DERIVATIVE FINANCIAL INSTRUMENTS

The Company may use derivative financial instruments to modify its exposure to market risks from changes in interest rates and foreign exchange rates. The Company does not enter into or hold derivative financial instruments for speculative trading purposes.

During the three months ended March 31, 2014 and 2013, the Company designated foreign currency forward contracts used to hedge anticipated distribution revenue as cash flow hedges. The Company also designated interest rate contracts used to hedge the pricing for certain senior notes as cash flow hedges. Gains and losses on the effective portion of designated cash flow hedges are initially recorded in accumulated other comprehensive income on the consolidated balance sheet and reclassified to the statement of operations when the hedged item is recognized.

During the three months ended March 31, 2013, the Company entered into foreign exchange contracts in connection with the planned acquisition of SBS Nordic (see Note 2). These derivatives, which economically hedged the Company's exposure to fluctuations in certain foreign currency exchange rates, did not qualify for hedge accounting and realized and unrealized losses resulting thereon were reflected in the consolidated statements of operations. There were no unsettled foreign exchange contracts held by the Company in connection with potential business combinations as of March 31, 2014 and December 31, 2013. The Company also acquired foreign currency forward contracts in its business combinations that did not qualify for hedge accounting. Gains and losses on these foreign currency forward contracts are reflected in other (expense) income, net on the consolidated statements of operations.

TF1 has the conditional right to require the Company to purchase its remaining shares in Eurosport. Written puts that do not qualify for equity classification are reported at fair value and subsequently marked to fair value through earnings regardless of associated contingencies. (See Note 4.)

The Company records all unsettled derivative contracts on the consolidated balance sheet at fair value (see Note 4); derivatives in an asset position are classified as assets, and derivatives in a liability position are classified as liabilities. The Company's master netting agreements allow the Company to settle derivative contracts denominated in the same currency with a single counterparty on the same day on a net basis. There were no amounts eligible to be offset under master netting agreements as of March 31, 2014 and December 31, 2013.

The following table summarizes the notional amount and fair value of the Company's derivative positions (in millions).

		March 31, 2014				December 31, 2013
	Balance Sheet Location	Notional		Fair Value		Notional		Fair Value
Derivatives designated as hedges:
Foreign exchange	Prepaid expenses and other current assets	$	31	$	4	$	16	$	4
Foreign exchange	Other noncurrent assets	$	47	$	8	$	36	$	9
Interest rate	Other noncurrent assets	$	100	$	—	$	—	$	—
Foreign exchange	Accrued liabilities	$	87	$	2	$	—	$	—
Derivatives not designated as hedges:
Foreign exchange	Accrued liabilities	$	7	$	1	$	4	$	1
TF1 put right	Accrued liabilities	$	573	$	27	$	574	$	20
Foreign exchange	Other noncurrent liabilities	$	3	$	—	$	3	$	—

The following table presents the pretax impact of derivatives designated as cash flow hedges on income and other comprehensive income (loss) (in millions).

	Three Months Ended March 31,
	2014			2013
Foreign exchange
(Losses) gains recognized in accumulated other comprehensive income	$	(2	)	$	5
Gains reclassified from accumulated other comprehensive income into other (expense) income, net (effective portion)	$	1		$	—

The following table presents the pretax losses on derivatives not designated as hedges recognized in other (expense) income, net in the consolidated statement of operations (in millions).

	Three Months Ended March 31,
	2014			2013
Foreign exchange	$	—		$	(59	)
TF1 put right	(7		)	—
Total	$	(7	)	$	(59	)

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Equity

3 Months Ended

Mar. 31, 2014

Equity [Abstract]

Equity Note Disclosure [Text Block]

EQUITY

Stock Repurchase Program

Under the Company's stock repurchase program, management is authorized to purchase shares of the Company's common stock from time to time through open market purchases or privately negotiated transactions at prevailing prices or pursuant to one or more accelerated stock repurchase agreements or other derivative arrangement as permitted by securities laws and other legal requirements, and subject to stock price, business and market conditions and other factors. The total authorization under the stock repurchase program is $5.5 billion. As of March 31, 2014, the Company had remaining authorization of $1.7 billion for future repurchases under the stock repurchase program, of which $204 million and $1.5 billion will expire on December 11, 2014 and February 3, 2016, respectively.

Repurchased stock is recorded in treasury stock on the consolidated balance sheet. During the three months ended March 31, 2014 the Company repurchased 3.4 million Series C common shares for $266 million through open market transactions using cash on hand. The Company made no stock repurchases during the three months ended March 31, 2013. As of March 31, 2014, the Company had repurchased over the life of the program 2.8 million and 73.4 million shares of Series A and Series C common stock for the aggregate purchase price of $171 million and $3.6 billion, respectively.

Common Stock

On February 13, 2014, John C. Malone, a member of Discovery’s Board of Directors entered into an agreement granting David Zaslav, the Company’s President and Chief Executive Officer, certain voting and purchase rights with respect to the approximately 5.9 million shares of the Company’s Series B common stock owned by Dr. Malone. The agreement gives Mr. Zaslav the right to vote the Series B shares if Dr. Malone is not otherwise voting or directing the vote of those shares. The agreement also provides that if Dr. Malone proposes to sell the Series B shares, Mr. Zaslav will have the first right to negotiate for the purchase of the shares. If that negotiation is not successful and Dr. Malone proposed to sell the Series B shares to a third party, Mr. Zaslav will have the exclusive right to match that offer. The rights granted under the agreement will remain in effect for as long as Mr. Zaslav is either employed as a principal executive officer of the Company or serving on its Board of Directors.

Preferred Stock Repurchase

On March 6, 2013, the Company agreed to repurchase and retire 4 million shares of its Series C convertible preferred stock from Advance Programming Holdings, LLC for an aggregate purchase price of $256 million, which was recorded as a decrease of par value of preferred stock and retained earnings. The repurchase was made outside of the Company's publicly announced stock repurchase program. The share repurchase was completed on April 5, 2013 using cash on hand. There were no preferred stock repurchases during the three months ended March 31, 2014.

Other Comprehensive Income (Loss)

The table below presents the tax effects related to each component of other comprehensive income (loss) and reclassifications made into the consolidated statements of operations (in millions).

	Three Months Ended March 31, 2014									Three Months Ended March 31, 2013
	Pretax			Tax Provision			Net-of-tax			Pretax			Tax Provision			Net-of-tax
Currency translation adjustments:
Unrealized gains / (losses)	$	2		$	(1	)	$	1		$	(64	)	$	11		$	(53	)
Reclassification to other (expense) income, net	—			—			—			(9		)	3			(6		)
Derivative and market value adjustments:
Unrealized (losses) gains	(1		)	1			—			7			(3		)	4
Reclassifications to other (expense) income, net	(1		)	—			(1		)	—			—			—
Other comprehensive income (loss)	$	—		$	—		$	—		$	(66	)	$	11		$	(55	)

Accumulated Other Comprehensive Income

The table below presents the changes in the components of accumulated other comprehensive income, net of taxes (in millions).

	Three Months Ended March 31, 2014									Three Months Ended March 31, 2013
	Currency Translation Adjustments			Derivative and Market Value Adjustments			Accumulated Other Comprehensive Income			Currency Translation Adjustments			Derivative and Market Value Adjustments		Accumulated Other Comprehensive Income (Loss)
Beginning balance	$	(8	)	$	12		$	4		$	(1	)	$	5	$	4
Other comprehensive income (loss) before reclassifications	1			—			1			(53		)	4		(49		)
Reclassifications from accumulated other comprehensive income to net income	—			(1		)	(1		)	(6		)	—		(6		)
Ending balance	$	(7	)	$	11		$	4		$	(60	)	$	9	$	(51	)

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Equity (Stock Repurchase Program) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Class of Stock [Line Items]
Shares repurchased	3.4	0
Purchase price	$ 266	$ 0
Series A Common Stock [Member]
Class of Stock [Line Items]
Shares repurchased	0	0
Purchase price	0	0
Series C Common Stock [Member]
Class of Stock [Line Items]
Shares repurchased	3.4	0
Purchase price	$ 266	$ 0

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Reportable Segments (Schedule Of Adjusted OIBDA By Segment) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Segment Reporting Information [Line Items]
Total Adjusted OIBDA	$ 525	$ 500
U.S. Networks [Member]
Segment Reporting Information [Line Items]
Total Adjusted OIBDA	383	377
International Networks [Member]
Segment Reporting Information [Line Items]
Total Adjusted OIBDA	221	187
Education [Member]
Segment Reporting Information [Line Items]
Total Adjusted OIBDA	6	7
Corporate And Inter-Segment Eliminations [Member]
Segment Reporting Information [Line Items]
Total Adjusted OIBDA	$ (85)	$ (71)

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Equity (Accumulated Other Comprehensive Income, Net Of Taxes) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Beginning balance	$ 4	$ 4
Other comprehensive income (loss) before reclassifications	1	(49)
Reclassifications from accumulated other comprehensive income to net income	(1)	(6)
Ending balance	4	(51)
Currency Translation Adjustments [Member]
Beginning balance	(8)	(1)
Other comprehensive income (loss) before reclassifications	1	(53)
Reclassifications from accumulated other comprehensive income to net income	0	(6)
Ending balance	(7)	(60)
Derivative and Market Value Adjustments [Member]
Beginning balance	12	5
Other comprehensive income (loss) before reclassifications	0	4
Reclassifications from accumulated other comprehensive income to net income	(1)	0
Ending balance	$ 11	$ 9

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Equity (Narrative) (Details) (USD $)	3 Months Ended			3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Mar. 31, 2014 Series A Common Stock [Member]	Mar. 31, 2013 Series A Common Stock [Member]	Mar. 31, 2014 Series C Common Stock [Member]	Mar. 31, 2013 Series C Common Stock [Member]	Mar. 31, 2014 Advance Programming Holdings, LLC [Member] Series C Convertible Preferred Stock [Member]	Mar. 31, 2013 Advance Programming Holdings, LLC [Member] Series C Convertible Preferred Stock [Member]	Mar. 31, 2014 Expiration of repurchase program on December 11, 2014 [Member]	Mar. 31, 2014 Expiration of repurchase program on February 3, 2016 [Member]	Feb. 13, 2014 Chief Executive Officer [Member] Series B Common Stock [Member]
Stock Repurchased During Period, Shares	3,400,000	0		0	0	3,400,000	0
Payments for Repurchase of Common Stock	$ 266,000,000	$ 0		$ 0	$ 0	$ 266,000,000	$ 0
Stock Repurchase Program, Authorized Amount	5,500,000,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount	1,700,000,000									204,000,000	1,500,000,000
Treasury Stock, Shares				2,800,000		73,400,000
Treasury Stock, Value	3,797,000,000		3,531,000,000	171,000,000		3,600,000,000
Number of shares subject to voting and purchase rights granted by a related party to the Company's CEO												5,900,000
Stock Repurchased and Retired During Period, Shares								0	4,000,000
Repurchases of preferred stock	$ 0	$ 256,000,000							$ 256,000,000

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Condensed Consolidating Financial Statements (Condensed Consolidating Statement Of Cash Flows) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Cash (used in) provided by operating activities	$ 241	$ 131
Purchases of property and equipment	(28)	(26)
Business acquisitions, net of cash acquired	(17)	(60)
Hedging instruments, net	0	(39)
Distributions from equity method investee	16	0
Investments in and advances to equity method investees, net	1	(25)
Cash used in investing activities	(28)	(150)
Borrowings from debt, net of discount and issuance costs	412	1,186
Principal repayments of capital lease obligations	(4)	(11)
Repurchases of common stock	(266)	0
Cash proceeds from equity-based plans, net	0	7
Excess tax benefits from equity-based compensation	16	13
Cash provided by financing activities	140	1,182
Effect of exchange rate changes on cash and cash equivalents	(4)	(4)
Net change in cash and cash equivalents	349	1,159
Cash and cash equivalents, beginning of period	408	1,201
Cash and cash equivalents, end of period	757	2,360
Capital Lease Obligations Incurred	14	0
Payments Related to Tax Withholding for Share-based Compensation	26	22
Reclassifications And Eliminations [Member]
Cash (used in) provided by operating activities	0	0
Purchases of property and equipment	0	0
Business acquisitions, net of cash acquired	0	0
Hedging instruments, net		0
Distributions from equity method investee	0
Investments in and advances to equity method investees, net	0	0
Cash used in investing activities	0	0
Borrowings from debt, net of discount and issuance costs	0	0
Principal repayments of capital lease obligations	0	0
Repurchases of common stock	0
Cash proceeds from equity-based plans, net	0	0
Inter-company contributions and other financing activities, net	0	0
Cash provided by financing activities	0	0
Effect of exchange rate changes on cash and cash equivalents	0	0
Net change in cash and cash equivalents	0	0
Cash and cash equivalents, beginning of period	0	0
Cash and cash equivalents, end of period	0	0
Discovery [Member]
Cash (used in) provided by operating activities	133	(72)
Purchases of property and equipment	0	0
Business acquisitions, net of cash acquired	0	0
Hedging instruments, net		0
Distributions from equity method investee	0
Investments in and advances to equity method investees, net	0	0
Cash used in investing activities	0	0
Borrowings from debt, net of discount and issuance costs	0	0
Principal repayments of capital lease obligations	0	0
Repurchases of common stock	(266)
Cash proceeds from equity-based plans, net	(1)	7
Inter-company contributions and other financing activities, net	134	65
Cash provided by financing activities	(133)	72
Effect of exchange rate changes on cash and cash equivalents	0	0
Net change in cash and cash equivalents	0	0
Cash and cash equivalents, beginning of period	0	0
Cash and cash equivalents, end of period	0	0
DCH [Member]
Cash (used in) provided by operating activities	2	7
Purchases of property and equipment	0	0
Business acquisitions, net of cash acquired	0	0
Hedging instruments, net		0
Distributions from equity method investee	0
Investments in and advances to equity method investees, net	0	0
Cash used in investing activities	0	0
Borrowings from debt, net of discount and issuance costs	0	0
Principal repayments of capital lease obligations	0	0
Repurchases of common stock	0
Cash proceeds from equity-based plans, net	0	0
Inter-company contributions and other financing activities, net	(2)	(7)
Cash provided by financing activities	(2)	(7)
Effect of exchange rate changes on cash and cash equivalents	0	0
Net change in cash and cash equivalents	0	0
Cash and cash equivalents, beginning of period	0	0
Cash and cash equivalents, end of period	0	0
DCL [Member]
Cash (used in) provided by operating activities	24	83
Purchases of property and equipment	(7)	(11)
Business acquisitions, net of cash acquired	0	0
Hedging instruments, net		(39)
Distributions from equity method investee	0
Investments in and advances to equity method investees, net	0	0
Cash used in investing activities	(7)	(50)
Borrowings from debt, net of discount and issuance costs	412	1,186
Principal repayments of capital lease obligations	(1)	(2)
Repurchases of common stock	0
Cash proceeds from equity-based plans, net	0	0
Inter-company contributions and other financing activities, net	(425)	(48)
Cash provided by financing activities	(14)	1,136
Effect of exchange rate changes on cash and cash equivalents	0	0
Net change in cash and cash equivalents	3	1,169
Cash and cash equivalents, beginning of period	123	1,022
Cash and cash equivalents, end of period	126	2,191
Non-Guarantor Subsidiaries Of DCL [Member]
Cash (used in) provided by operating activities	82	113
Purchases of property and equipment	(21)	(15)
Business acquisitions, net of cash acquired	(17)	(60)
Hedging instruments, net		0
Distributions from equity method investee	16
Investments in and advances to equity method investees, net	1	(25)
Cash used in investing activities	(21)	(100)
Borrowings from debt, net of discount and issuance costs	0	0
Principal repayments of capital lease obligations	(3)	(9)
Repurchases of common stock	0
Cash proceeds from equity-based plans, net	1	0
Inter-company contributions and other financing activities, net	291	(10)
Cash provided by financing activities	289	(19)
Effect of exchange rate changes on cash and cash equivalents	(4)	(4)
Net change in cash and cash equivalents	346	(10)
Cash and cash equivalents, beginning of period	285	179
Cash and cash equivalents, end of period	631	169
Other Non-Guarantor Subsidiaries of Discovery [Member]
Cash (used in) provided by operating activities	0	0
Purchases of property and equipment	0	0
Business acquisitions, net of cash acquired	0	0
Hedging instruments, net		0
Distributions from equity method investee	0
Investments in and advances to equity method investees, net	0	0
Cash used in investing activities	0	0
Borrowings from debt, net of discount and issuance costs	0	0
Principal repayments of capital lease obligations	0	0
Repurchases of common stock	0
Cash proceeds from equity-based plans, net	0	0
Inter-company contributions and other financing activities, net	0	0
Cash provided by financing activities	0	0
Effect of exchange rate changes on cash and cash equivalents	0	0
Net change in cash and cash equivalents	0	0
Cash and cash equivalents, beginning of period	0	0
Cash and cash equivalents, end of period	0	0
Discovery and Subsidiaries [Member]
Cash (used in) provided by operating activities	241	131
Purchases of property and equipment	(28)	(26)
Business acquisitions, net of cash acquired	(17)	(60)
Hedging instruments, net		(39)
Distributions from equity method investee	16
Investments in and advances to equity method investees, net	1	(25)
Cash used in investing activities	(28)	(150)
Borrowings from debt, net of discount and issuance costs	412	1,186
Principal repayments of capital lease obligations	(4)	(11)
Repurchases of common stock	(266)
Cash proceeds from equity-based plans, net	0	7
Inter-company contributions and other financing activities, net	(2)	0
Cash provided by financing activities	140	1,182
Effect of exchange rate changes on cash and cash equivalents	(4)	(4)
Net change in cash and cash equivalents	349	1,159
Cash and cash equivalents, beginning of period	408	1,201
Cash and cash equivalents, end of period	$ 757	$ 2,360

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Debt (Tables)

3 Months Ended

Mar. 31, 2014

Debt Disclosure [Abstract]

Outstanding Debt

The table below presents the components of outstanding debt (in millions).

	March 31, 2014			December 31, 2013
3.70% Senior Notes, semi-annual interest, due June 2015	$	850		$	850
5.625% Senior Notes, semi-annual interest, due August 2019	500			500
5.05% Senior Notes, semi-annual interest, due June 2020	1,300			1,300
4.375% Senior Notes, semi-annual interest, due June 2021	650			650
2.375% Senior Notes, euro denominated, annual interest, due March 2022(a)	412			—
3.30% Senior Notes, semi-annual interest, due May 2022	500			500
3.25% Senior Notes, semi-annual interest, due April 2023	350			350
6.35% Senior Notes, semi-annual interest, due June 2040	850			850
4.95% Senior Notes, semi-annual interest, due May 2042	500			500
4.875% Senior Notes, semi-annual interest, due April 2043	850			850
Capital lease obligations	175			165
Total debt	6,937			6,515
Unamortized discount	(19		)	(16		)
Debt, net	6,918			6,499
Current portion of debt	(18		)	(17		)
Noncurrent portion of debt	$	6,900		$	6,482

^(a) Remeasurement from euro using the exchange rate of €1.00 = $1.37 on March 31, 2014.

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Fair Value Measurements (Schedule Of Assets And Liabilities Measured On Recurring Basis) (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading securities	$ 138	$ 129
Available-for-sale securities	4	4
Assets, Fair Value Disclosure	154	146
Deferred compensation plan	138	129
Derivative Liabilities	3	1
TF1 put right	27	20
Liabilities, Fair Value Disclosure	168	150
Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading securities	138	129
Available-for-sale securities	4	4
Assets, Fair Value Disclosure	142	133
Deferred compensation plan	138	129
Derivative Liabilities	0	0
TF1 put right	0	0
Liabilities, Fair Value Disclosure	138	129
Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading securities	0	0
Available-for-sale securities	0	0
Assets, Fair Value Disclosure	12	13
Deferred compensation plan	0	0
Derivative Liabilities	3	1
TF1 put right	0	0
Liabilities, Fair Value Disclosure	3	1
Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Trading securities	0	0
Available-for-sale securities	0	0
Assets, Fair Value Disclosure	0	0
Deferred compensation plan	0	0
Derivative Liabilities	0	0
TF1 put right	27	20
Liabilities, Fair Value Disclosure	27	20
Prepaid expenses and other current assets [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Assets	4	4
Prepaid expenses and other current assets [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Assets	0	0
Prepaid expenses and other current assets [Member] | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Assets	4	4
Prepaid expenses and other current assets [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Assets	0	0
Other noncurrent assets [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Assets	8	9
Other noncurrent assets [Member] | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Assets	0	0
Other noncurrent assets [Member] | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Assets	8	9
Other noncurrent assets [Member] | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Assets	$ 0	$ 0

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Related Party Transactions

3 Months Ended

Mar. 31, 2014

Related Party Transactions [Abstract]

Related Party Transactions

RELATED PARTY TRANSACTIONS

In the normal course of business, the Company enters into transactions with related parties. Related parties include entities that share common directorship, such as Liberty Global plc (“Liberty Global”), Liberty Media Corporation ("Liberty Media") and their subsidiaries and equity method investees (together the “Liberty Group”). Discovery’s Board of Directors includes Dr. Malone, who is Chairman of the Board of Liberty Global and beneficially owns approximately 27% of the aggregate voting power with respect to the election of directors of Liberty Global. Dr. Malone is Chairman of the Board of Liberty Media and beneficially owns approximately 47% of the aggregate voting power with respect to the election of directors of Liberty Media. The majority of the revenue earned from the Liberty Group relates to multi-year network distribution arrangements. The Company also discloses related party revenues for content and services provided to equity method investees, including unconsolidated VIEs (see Note 3). Other related party revenue and service charges included in the table below primarily consist of distribution revenue from J:COM earned by Discovery Japan. Following the consolidation of Discovery Japan (see Note 2), revenues earned from J:COM are reflected in related party revenues.

The table below presents a summary of the transactions with related parties (in millions).

	Three Months Ended March 31,
	2014		2013
Revenues and service charges:
Liberty Group(a)	$	38	$	12
Equity method investees	21		17
Other	8		5
Total revenues and service charges	$	67	$	34
Interest income(b)	$	9	$	9
Expenses	$	10	$	7

^(a) The increase in revenue from transactions with the Liberty Group is primarily attributable to activity with Charter Communications, Inc. ("Charter") and Virgin Media, Inc. ("Virgin Media"). In May 2013 Liberty Media completed its equity method investment in Charter; Dr. Malone is on Charter's board of directors. In June 2013, Liberty Global announced it had completed its acquisition of Virgin Media. Transactions with Charter and Virgin Media have been reported as related party transactions since the date they became related parties.

^(b) The Company records interest earnings from loans to equity method investees as a component of earnings (losses) from equity method investees, net, in the consolidated statements of operations.

The table below presents receivables due from related parties (in millions).

	March 31, 2014		December 31, 2013
Receivables	$	45	$	41
Note receivable (see Note 3)	$	473	$	483

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Derivative Financial Instruments (Policies)

3 Months Ended

Mar. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives, Policy [Policy Text Block]

The Company may use derivative financial instruments to modify its exposure to market risks from changes in interest rates and foreign exchange rates. The Company does not enter into or hold derivative financial instruments for speculative trading purposes.

Derivatives, Offsetting Fair Value Amounts, Policy [Policy Text Block]

The Company records all unsettled derivative contracts on the consolidated balance sheet at fair value (see Note 4); derivatives in an asset position are classified as assets, and derivatives in a liability position are classified as liabilities. The Company's master netting agreements allow the Company to settle derivative contracts denominated in the same currency with a single counterparty on the same day on a net basis.

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Variable Interest Entities (Details) (USD $)	3 Months Ended			0 Months Ended	3 Months Ended		12 Months Ended		3 Months Ended			90 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Jan. 02, 2011 OWN Joint Venture [Member]	Mar. 31, 2014 OWN Joint Venture [Member] Y	Mar. 31, 2013 OWN Joint Venture [Member]	Dec. 31, 2012 OWN Joint Venture [Member]	Dec. 31, 2013 OWN Joint Venture [Member]	Mar. 31, 2014 Hub [Member]	Dec. 31, 2013 Hub [Member]	May 22, 2009 Hub [Member]	Jul. 01, 2023 Forecast [Member] OWN Joint Venture [Member]	Jan. 01, 2016 Forecast [Member] OWN Joint Venture [Member]
Variable Interest Entity [Line Items]
Aggregate carrying value of investments in VIE's accounted for using the equity method	$ 786,000,000		$ 789,000,000		$ 443,000,000			$ 449,000,000	$ 313,000,000	$ 312,000,000
Variable Interest Entity Equity (Losses) Earnings	16,000,000	(1,000,000)
Variable interest, maximum exposure to loss	849,000,000
Specified funding commitment, obligation									15,000,000
VIE Funding Obligation, Carrying Value					0				0
Guarantor obligations, maximum exposure to loss									40,000,000		300,000,000
Equity Method Investment, Other than Temporary Impairment					0				0
Variable Interest Entity, Funded Notes Receivable	473,000,000		483,000,000		473,000,000			483,000,000
Variable interest entity net (repayment) funding					19,000,000	(14,000,000)
Interest and Other Income					9,000,000	9,000,000
Debt instrument interest rate					7.50%
Borrowings schedule repayment period, in years					4
OWN losses recognized at 100%				104,000,000
Proportion of OWN's net loss allocated to Discovery Communications Inc				100.00%			100.00%
Terms Of Put Arrangement												2 years 6 months
Minimum put amount for purchase of Harpo's joint venture interest in OWN, first put exercise date													100,000,000
Cumulative cap of put amount for purchase of Harpo's joint venture interest in OWN, fourth put exercise date												400,000,000
Put Right Obligations					$ 0

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Supplemental Disclosures (Tables)

3 Months Ended

Mar. 31, 2014

Disclosure Text Block Supplement [Abstract]

Schedule Of Accrued Expenses And Other Current Liabilities

Accrued liabilities consisted of the following (in millions).

	March 31, 2014		December 31, 2013
Accrued payroll and related benefits	$	284	$	373
Content rights payable	184		212
Accrued income taxes	121		71
Accrued interest	105		43
Current portion of equity-based compensation liabilities	35		85
Other accrued liabilities	218		208
Total accrued liabilities	$	947	$	992

Schedule Of Other (Expense) Income, Net

Other (expense) income, net consisted of the following (in millions).

	Three Months Ended March 31,
	2014			2013
Foreign currency losses, net	$	(11	)	$	(2	)
Loss on derivative instruments	(7		)	(59		)
Remeasurement gain on previously held equity interest	—			92
Other income, net	1			—
Total other (expense) income, net	$	(17	)	$	31

Schedule of Cash Proceeds from Equity-Based Plans, Net

Cash proceeds from equity-based plans, net consisted of the following (in millions).

	Three Months Ended March 31,
	2014			2013
Tax settlements associated with equity-based plans	$	(26	)	$	(22	)
Excess tax benefits from equity-based compensation	16			13
Proceeds from issuance of common stock for equity-based plans	10			16
Total cash proceeds from equity-based plans, net	$	—		$	7

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Consolidated Statements Of Comprehensive Income (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Statement of Comprehensive Income [Abstract]
Net income	$ 231	$ 231
Other comprehensive income (loss), net of tax:
Currency translation adjustments	1	(59)
Derivative and market value adjustments	(1)	4
Comprehensive income	231	176
Comprehensive income attributable to redeemable noncontrolling interests	(1)	0
Comprehensive income attributable to Discovery Communications, Inc.	$ 230	$ 176

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Condensed Consolidating Financial Statements (Narrative) (Details)	Mar. 31, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Direct ownership percentage in Discovery Communications Holding, LLC	33.30%
Indirect ownership percentage in Discovery Communications Holding, LLC	66.70%

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Variable Interest Entities

3 Months Ended

Mar. 31, 2014

Equity Method Investments and Joint Ventures [Abstract]

Variable Interest Entity Disclosure [Text Block]

VARIABLE INTEREST ENTITIES

In the normal course of business, the Company makes investments that support its underlying business strategy and enable it to enter new markets and develop programming. In certain instances, an investment may qualify as a variable interest entity (“VIE”). As of March 31, 2014 and December 31, 2013, the Company’s VIEs primarily consisted of Hub Television Networks LLC and OWN LLC, which operate pay television networks in the U.S.

The Company accounted for its interests in VIEs using the equity method, as the Company is not the primary beneficiary. The aggregate carrying values of these equity method investments were $786 million and $789 million as of March 31, 2014 and December 31, 2013, respectively. The Company recognized $16 million in income and $1 million in losses for its portion of net income and losses generated by VIEs of during the three months ended March 31, 2014 and 2013, respectively.

As of March 31, 2014, the Company’s estimated risk of loss for investment carrying values, unfunded contractual commitments and guarantees made on behalf of VIEs was approximately $849 million. The estimated risk of loss excludes the Company’s expected non-contractual future funding of OWN and its operating performance guarantee for Hub Television Networks LLC, which are discussed below.

Hub Television Networks LLC

Hub Television Networks LLC operates the Hub Network, which is a pay television network that provides children’s and family entertainment and educational programming. The Company is obligated to provide the Hub Network with funding up to $15 million; the Company has not provided any funding as of March 31, 2014. The Company also provides services such as distribution, sales and administrative support services for a fee (see Note 14).

Based upon the level of equity investment at risk, the Hub Network is a VIE. Discovery and its partner, Hasbro Inc. (“Hasbro”), share equally in voting control and jointly consent to decisions about programming and marketing strategy and thereby direct the activities of the Hub Network that most significantly impact its economic performance. Neither has special governance rights, and both are equally represented on the board of the Hub Network. The partners also share equally in the profits, losses and funding of the Hub Network. The Company has determined that it is not the primary beneficiary of the Hub Network. Accordingly, the Company accounts for its investment in the Hub Network using the equity method.

Through December 31, 2015, the Company has guaranteed the performance of the Hub Network and is required to compensate Hasbro to the extent that distribution metrics decline versus levels historically achieved by the Discovery Kids channel. This guarantee extends on a declining basis through the period of guarantee. Upon inception of the Hub Network on May 22, 2009, the maximum amount potentially due under this guarantee was $300 million. As of March 31, 2014, the maximum amount potentially due under this guarantee was less than $40 million. As the Hub Network’s distribution is obtained under long-term contracts with stable subscriber levels, the Company believes the likelihood is remote that the guaranteed performance levels will not be achieved and, therefore, believes the performance guarantee is unlikely to have an adverse impact on the Company.

The carrying value of the Company’s investment in the Hub Network was $313 million and $312 million as of March 31, 2014 and December 31, 2013, respectively. The Company regularly monitors the valuation of its investment in accordance with GAAP, which requires an impairment charge when there is an other-than-temporary decline in the investment’s value. The Company primarily uses a discounted cash flow model to monitor the value of its investment. The Hub Network’s projected financial results and associated cash flows are key assumptions used in estimating the value of our investment. While the Hub Network is currently generating cash flow from operations, the network has not yet achieved the level of profitability and associated cash flows anticipated in the original long range plan. Management has recently implemented and continues to consider a number of initiatives, including changes to its programing strategy designed to improve the Hub Network’s financial performance by reducing costs, improving viewership and increasing revenues. The Company will continue to assess the carrying value of its investment in the Hub Network taking into account the outcome of the above initiatives. If the outcome of the above initiatives is not successful, the financial results of the Hub Network will vary negatively from the long range plan and, as a result, the carrying value of Discovery's equity investment, or underlying Hub Network assets, may be impaired. No impairment was recorded during the three months ended March 31, 2014.

OWN LLC

OWN LLC operates OWN, which is a pay television network and website that provides adult lifestyle content, which is focused on self-discovery, self-improvement and entertainment. Based upon the level of equity investment at risk, OWN is a VIE. While the Company and Harpo, Inc. ("Harpo") are partners who share equally in voting control, power is not shared because Harpo holds operational rights related to programming and marketing, as well as selection and retention of key management personnel that significantly impact OWN’s economic performance. Accordingly, the Company has determined that it is not the primary beneficiary of OWN and accounts for its investment in OWN using the equity method. However, the Company provides OWN funding, content licenses, and services such as distribution, sales and administrative support for a fee (see Note 14).

The Company's combined advances to and note receivable from OWN, including accrued interest, were $473 million and $483 million, as of March 31, 2014 and December 31, 2013, respectively. During the three months ended March 31, 2014, the Company received net repayments of $19 million from OWN and accrued interest on the note receivable of $9 million. During the three months ended March 31, 2013, the Company provided OWN with funding of $14 million and accrued interest on the note receivable of $9 million. The note receivable is secured by the net assets of OWN. While the Company has no further funding commitments, the Company will provide additional funding to OWN, if necessary, and expects to recoup amounts funded. The funding to OWN accrues interest at 7.5% compounded annually. There can be no event of default on the borrowing until 2023. However, borrowings are scheduled for repayment four years after the borrowing date to the extent that OWN has excess cash to repay the borrowings then due. Following such repayment, OWN’s subsequent cash distributions will be shared equally between the Company and Harpo. OWN began repaying amounts owed to the Company during 2013.

In accordance with the venture agreement, losses generated by OWN are generally allocated to both investors based on their proportionate ownership interests. However, the Company has recorded its portion of OWN’s losses based upon accounting policies for equity method investments. Prior to the contribution of the Discovery Health network to OWN at its launch, the Company recognized $104 million or 100% of OWN’s net losses. During the three months ended March 31, 2012, accumulated operating losses at OWN exceeded the equity contributed to OWN, and Discovery began again to record 100% of OWN’s net losses. Although OWN has become profitable, the Company will record 100% of any net losses resulting from OWN's operations as long as Discovery provides all funding to OWN and OWN’s accumulated losses continue to exceed the equity contributed. All of OWN's future net income will initially be recorded by the Company until the Company recovers losses absorbed in excess of the Company's equity ownership interest.

The carrying value of the Company’s investment in OWN of $443 million and $449 million as of March 31, 2014 and December 31, 2013, respectively, includes a note receivable balance and accumulated investment losses. Given that the early results of OWN’s operations have been below its initial business plan, there is a possibility that the results of OWN’s future operations will fall below the revised long-term projections. The Company continues to monitor the financial results of OWN along with other relevant business information to assess the recoverability of the OWN note receivable. No impairment was recorded during the three months ended March 31, 2014.

Harpo has the right to require the Company to purchase all or part of Harpo’s interest in OWN at fair market value up to a maximum put amount every two and a half years commencing January 1, 2016. The maximum put amount ranges from $100 million on the first put exercise date up to a cumulative cap of $400 million on the fourth put exercise date. The Company has recorded no amounts for the put right.

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Derivative Financial Instruments (Schedule of Derivative Instruments, Fair Value) (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Prepaid expenses and other current assets [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	$ 31	$ 16
Derivative Asset, Fair Value, Gross Asset	4	4
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other noncurrent assets [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	47	36
Derivative Asset, Fair Value, Gross Asset	8	9
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Accrued liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	87	0
Derivative Liability, Fair Value, Gross Liability	2	0
Designated as Hedging Instrument [Member] | Interest Rate Contract [Member] | Other noncurrent assets [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	100	0
Derivative Asset, Fair Value, Gross Asset	0	0
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Accrued liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	7	4
Derivative Liability, Fair Value, Gross Liability	1	1
Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member] | Other noncurrent liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	3	3
Derivative Liability, Fair Value, Gross Liability	0	0
Put Option [Member] | Not Designated as Hedging Instrument [Member] | Accrued liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	573	574
Derivative Liability, Fair Value, Gross Liability	$ 27	$ 20

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Related Party Transactions (Schedule of Related Party Transactions, Receivables) (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Related Party Transactions [Abstract]
Receivables	$ 45	$ 41
Note receivable (see Note 3)	$ 473	$ 483

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Equity-Based Compensation (PRSUs And RSUs) (Details) (PRSUs And RSUs [Member], USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2014
PRSUs And RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding as of Beginning of Period	2.4
Granted	1.6
Converted, PRSUs and RSUs	(0.7)
Forfeited, PRSUs and RSUs	(0.1)
Outstanding as of Period End	3.2
Vested and expected to vest as of Period End	3.1
Outstanding as of Beginning of Period, Weighted-Average Grant Price	$ 46.00
Granted, Weighted-Average Grant Price	$ 83.32
Converted, Weighted-Average Grant Price	$ 38.55
Forfeited, Weighted-Average Grant Price	$ 78.88
Outstanding as of Period End, Weighted-Average Grant Price	$ 65.15
Vested and expected to vest as of Period End, Weighted-Average Grant Price	$ 64.88
Outstanding as of Period End, Weighted-Average Remaining Contractual Term (years)	1 year 183 days
Vested and expected to vest, weighted average remaining contractual term	1 year 153 days
Converted, Aggregate Fair Value	$ 58
Outstanding as of Period End, Aggregate Fair Value	267
Vested and expected to vest as of Period End, Aggregate Fair Value	$ 258

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Redeemable Noncontrolling Interests (Policies)

3 Months Ended

Mar. 31, 2014

Noncontrolling Interest [Abstract]

Redeemable noncontrolling interests [Policy Text Block]

Because exercise of these put rights is outside the Company's control, the noncontrolling interests are presented as redeemable noncontrolling interests outside of stockholders' equity on the Company's consolidated balance sheet. Redeemable noncontrolling interests reflected as of the balance sheet date are the greater of the noncontrolling interest balances adjusted for comprehensive income items or the redemption values remeasured at the period end foreign exchange rates (i.e. the "floor"). Adjustments to the carrying amount of redeemable noncontrolling interests to redemption value as a result of changes in exchange rates are reflected in currency translation adjustments, a component of other comprehensive income (loss); however, such currency translation adjustments to redemption value are allocated to Discovery stockholders only. Redeemable noncontrolling interest adjustments of redemption value to the floor are reflected in retained earnings and as an adjustment to income from continuing operations available to Discovery Communications, Inc. stockholders in the calculation of earnings per share. (See Note 12.)

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Income Taxes (Schedule Of Income Tax Reconciliation) (Details)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Income Tax Disclosure [Abstract]
U.S. federal statutory income tax rate	35.00%	35.00%
State and local income taxes, net of federal tax benefit	3.00%	3.00%
Effect of foreign operations	(1.00%)	1.00%
Domestic production activity deductions	(3.00%)	1.00%
Change in uncertain tax positions	(2.00%)	0.00%
Remeasurement gain on previously held equity interest	0.00%	(2.00%)
Other, net	2.00%	1.00%
Effective income tax rate	34.00%	39.00%

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Equity-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2014

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Equity-Based Compensation Expense

The table below presents the components of equity-based compensation expense (in millions).

	Three Months Ended March 31,
	2014			2013
PRSUs and RSUs	$	11		$	12
Stock options	9			8
Unit awards	1			24
SARs	(2		)	16
Total equity-based compensation expense	$	19		$	60
Tax benefit recognized	$	7		$	14

PRSUs And RSUs [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock-Based Compensation - Summary Of Activities

The table below presents PRSU and RSU activity (in millions, except years and weighted-average grant price).

	PRSUs and RSUs		Weighted-Average Grant Price		Weighted-Average Remaining Contractual Term (years)	Aggregate Fair Value
Outstanding as of December 31, 2013	2.4		$	46.00
Granted	1.6		83.32
Converted	(0.7	)	38.55			$	58
Forfeited	(0.1	)	78.88
Outstanding as of March 31, 2014	3.2		$	65.15	1.5	$	267
Vested and expected to vest as of March 31, 2014	3.1		$	64.88	1.4	$	258

Stock Options [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock-Based Compensation - Summary Of Activities

The table below presents stock option activity (in millions, except years and weighted-average exercise price).

	Stock Options		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Outstanding as of December 31, 2013	7.6		$	36.47
Granted	0.9		83.30
Exercised	(0.3	)	28.63			$	15
Outstanding as of March 31, 2014	8.2		$	41.71	4.5	$	335
Vested and expected to vest as of March 31, 2014	8.0		$	41.00	4.5	$	333
Exercisable as of March 31, 2014	5.4		$	29.71	4.0	$	283

Unit Awards [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock-Based Compensation - Summary Of Activities

The table below presents unit award activity (in millions, except years and weighted-average grant price).

	Unit Awards		Weighted- Average Grant Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Outstanding as of December 31, 2013	1.6		$	38.46
Settled	(1.0	)	36.96			$	52
Outstanding as of March 31, 2014	0.6		$	41.17	0.8	$	24
Vested and expected to vest as of March 31, 2014	0.6		$	41.17	0.8	$	24

SARs [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock-Based Compensation - Summary Of Activities

The table below presents SAR award activity (in millions, except years and weighted-average grant price).

	SARs		Weighted- Average Grant Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value
Outstanding as of December 31, 2013	3.2		$	55.20
Granted	3.7		86.51
Settled	(0.9	)	53.65			$	29
Outstanding as of March 31, 2014	6.0		$	74.71	2.0	$	62
Vested and expected to vest as of March 31, 2014	6.0		$	74.71	2.0	$	62

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Supplemental Disclosures

3 Months Ended

Mar. 31, 2014

Disclosure Text Block Supplement [Abstract]

Supplemental Disclosures

SUPPLEMENTAL DISCLOSURES

Accrued Liabilities

Accrued liabilities consisted of the following (in millions).

	March 31, 2014		December 31, 2013
Accrued payroll and related benefits	$	284	$	373
Content rights payable	184		212
Accrued income taxes	121		71
Accrued interest	105		43
Current portion of equity-based compensation liabilities	35		85
Other accrued liabilities	218		208
Total accrued liabilities	$	947	$	992

Other (Expense) Income, Net

Other (expense) income, net consisted of the following (in millions).

	Three Months Ended March 31,
	2014			2013
Foreign currency losses, net	$	(11	)	$	(2	)
Loss on derivative instruments	(7		)	(59		)
Remeasurement gain on previously held equity interest	—			92
Other income, net	1			—
Total other (expense) income, net	$	(17	)	$	31

Cash Proceeds from Equity-Based Plans, Net

Cash proceeds from equity-based plans, net consisted of the following (in millions).

	Three Months Ended March 31,
	2014			2013
Tax settlements associated with equity-based plans	$	(26	)	$	(22	)
Excess tax benefits from equity-based compensation	16			13
Proceeds from issuance of common stock for equity-based plans	10			16
Total cash proceeds from equity-based plans, net	$	—		$	7