Discontinued Operations Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2017

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations [Table Text Block]

The following table sets forth details of net earnings (loss) from discontinued operations for the three months ended March 31, 2017 and 2016.

	Three Months Ended March 31,
	2017			2016
Revenues	$	250		$	262
Costs and expenses:
Operating	89			85
Selling, general and administrative	122			114
Depreciation and amortization (a)	—			7
Provision for valuation allowance	715			—
Total costs and expenses	926			206
Operating income (loss)	(676		)	56
Interest expense	(19		)	—
Earnings (loss) from discontinued operations	(695		)	56
Income tax provision	(11		)	(25		)
Net earnings (loss) from discontinued operations, net of tax	$	(706	)	$	31

(a) CBS Radio has been classified as held for sale beginning in the fourth quarter of 2016. Under ASC 360, assets held for sale are not depreciated or amortized.

The following table presents the major classes of assets and liabilities of the Company’s discontinued operations.

	At				At
	March 31, 2017				December 31, 2016
Receivables, net		$	204			$	244
Other current assets		54				61
Goodwill		1,285				1,285
Intangible assets		2,832				2,832
Net property and equipment		148				145
Other assets		27				29
Valuation allowance for carrying value		(715		)		—
Total Assets		$	3,835			$	4,596
Current portion of long-term debt		$	10			$	10
Other current liabilities		141				145
Long-term debt		1,333				1,335
Deferred income tax liabilities		1,004				998
Other liabilities		117				118
Total Liabilities		$	2,605			$	2,606

The following table presents CBS Radio’s long-term debt.

	At				At
	March 31, 2017				December 31, 2016
Term Loan due October 2023, net of discount		$	952			$	955
7.250% Senior Notes due November 2024		400				400
Revolving Credit Facility		10				10
Deferred financing costs		(19		)		(20		)
Total long-term debt, including current portion		$	1,343			$	1,345