XML 22 R13.htm IDEA: XBRL DOCUMENT v3.10.0.1
Restructuring and Merger and Acquisition-Related Costs
 12 Months Ended
Dec. 31, 2017
Restructuring Charges [Abstract]  
Restructuring and Merger and Acquisition-Related Costs
5) RESTRUCTURING AND MERGER AND ACQUISITION-RELATED COSTS
During the year ended December 31, 2017, in a continued effort to reduce its cost structure, the Company initiated restructuring plans across several of its businesses, primarily for the reorganization of certain business operations. As a result, the Company recorded restructuring charges of $63 million, reflecting $54 million of severance costs and $9 million of costs associated with exiting contractual obligations and other related costs. During the year ended December 31, 2016, the Company recorded restructuring charges of $30 million, reflecting $19 million of severance costs and $11 million of costs associated with exiting contractual obligations and other related costs. During the year ended December 31, 2015, the Company recorded restructuring charges of $45 million, reflecting $24 million of severance costs and $21 million of costs associated with exiting contractual obligations and other related costs. As of December 31, 2017, the cumulative settlements for the 2017, 2016, and 2015 restructuring charges were $68 million, of which $45 million was for severance costs and $23 million related to costs associated with exiting contractual obligations and other related costs. The Company expects to substantially utilize its restructuring reserves by the end of 2018.
 
Balance at
 
2017
 
2017
 
Balance at
 
December 31, 2016
 
Charges
 
Settlements
 
December 31, 2017
Entertainment
 
$
20

 
 
$
44


 
$
(18
)
 
 
 
$
46

 
Cable Networks
 
4

 
 
—

 
 
(3
)
 
 
 
1

 
Publishing
 
1

 
 
5

 
 
(3
)
 
 
 
3

 
Local Media
 
12

 
 
12


 
(7
)
 
 
 
17

 
Corporate
 
2

 
 
2


 
(1
)
 
 
 
3

 
Total
 
$
39

 
 
$
63

 
 
$
(32
)
 
 
 
$
70

 
 
Balance at
 
2016
 
2016
 
Balance at
 
December 31, 2015
 
Charges
 
Settlements
 
December 31, 2016
Entertainment
 
$
19

 
 
$
16

 
 
$
(15
)
 
 
 
$
20

 
Cable Networks
 
—

 
 
4

 
 
—

 
 
 
4

 
Publishing
 
—

 
 
1

 
 
—

 
 
 
1

 
Local Media
 
11

 
 
6

 
 
(5
)
 
 
 
12

 
Corporate
 
1

 
 
3

 
 
(2
)
 
 
 
2

 
Total
 
$
31

 
 
$
30

 

$
(22
)
 
 
 
$
39

 


In 2016, the Company incurred professional fees of $8 million associated with merger and acquisition-related activities.