Reportable Segments

3 Months Ended

Mar. 31, 2017

Segment Reporting [Abstract]

Reportable Segments

13) REPORTABLE SEGMENTS

The following tables set forth the Company’s financial performance by reportable segment. The Company’s operating segments, which are the same as its reportable segments, have been determined in accordance with the Company’s internal management structure, which is organized based upon products and services.

	Three Months Ended
	March 31,
	2017			2016
Revenues:
Entertainment	$	2,347		$	2,587
Cable Networks	543			525
Publishing	161			145
Local Media	409			448
Corporate/Eliminations	(117		)	(117		)
Total Revenues	$	3,343		$	3,588

Revenues generated between segments primarily reflect advertising sales, television license fees and station affiliation fees. These transactions are recorded at market value as if the sales were to third parties and are eliminated in consolidation.

	Three Months Ended
	March 31,
	2017		2016
Intercompany Revenues:
Entertainment	$	119	$	122
Local Media	3		2
Total Intercompany Revenues	$	122	$	124

The Company presents operating income (loss) excluding restructuring charges and other operating items, net, each where applicable, (“Segment Operating Income”) as the primary measure of profit and loss for its operating segments in accordance with FASB guidance for segment reporting. The Company believes the presentation of Segment Operating Income is relevant and useful for investors because it allows investors to view segment performance in a manner similar to the primary method used by the Company’s management and enhances their ability to understand the Company’s operating performance.

	Three Months Ended
	March 31,
	2017			2016
Segment Operating Income (Loss):
Entertainment	$	398		$	449
Cable Networks	248			228
Publishing	14			13
Local Media	123			150
Corporate	(79		)	(84		)
Total Segment Operating Income	704			756
Other operating items, net (a)	—			9
Operating income	704			765
Interest expense	(109		)	(100		)
Interest income	13			7
Other items, net	1			(3		)
Earnings from continuing operations before income taxes and equity in loss of investee companies	609			669
Provision for income taxes	(138		)	(206		)
Equity in loss of investee companies, net of tax	(17		)	(21		)
Net earnings from continuing operations	454			442
Net earnings (loss) from discontinued operations, net of tax	(706		)	31
Net earnings (loss)	$	(252	)	$	473

(a) Other operating items, net includes a gain from the sale of an internet business in China and a multiyear, retroactive impact of a new operating tax.

	Three Months Ended
	March 31,
	2017		2016
Depreciation and Amortization:
Entertainment	$	29	$	30
Cable Networks	6		6
Publishing	1		1
Local Media	11		11
Corporate	8		9
Total Depreciation and Amortization	$	55	$	57

	Three Months Ended
	March 31,
	2017		2016
Stock-based Compensation:
Entertainment	$	15	$	15
Cable Networks	3		3
Publishing	1		1
Local Media	3		3
Corporate	18		17
Total Stock-based Compensation	$	40	$	39

	Three Months Ended
	March 31,
	2017		2016
Capital Expenditures:
Entertainment	$	14	$	13
Cable Networks	3		2
Publishing	1		3
Local Media	5		7
Corporate	4		9
Total Capital Expenditures	$	27	$	34

	At			At
	March 31, 2017			December 31, 2016
Assets:
Entertainment		$	11,519		$	11,262
Cable Networks		2,620			2,618
Publishing		822			880
Local Media		4,038			4,065
Corporate/Eliminations		188			817
Discontinued operations		3,835			4,596
Total Assets		$	23,022		$	24,238