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Pension and Other Postretirement Benefits (Tables)
 12 Months Ended
Dec. 31, 2017
Retirement Benefits [Abstract]  
Change in Benefit Obligations
The following table sets forth the change in benefit obligation for the Company’s pension and postretirement benefit plans.
 
Pension Benefits
 
Postretirement Benefits
 
2017
 
2016
 
2017
 
2016
Change in benefit obligation:
 
 
 
 
 
 
 
Benefit obligation, beginning of year
$
4,660

 
$
4,911

 
$
447

 
$
486

Service cost
29

 
29

 
—

 
—

Interest cost
191

 
215

 
18

 
20

Actuarial loss (gain)
337

 
353

 
19

 
(5
)
Benefits paid
(326
)
 
(328
)
 
(73
)
 
(69
)
Participants’ contributions
—

 
—

 
10

 
11

Retiree Medicare drug subsidy
—

 
—

 
3

 
4

Settlements
(862
)
 
(518
)
 
—

 
—

Cumulative translation adjustments
11

 
(2
)
 
—

 
—

Benefit obligation, end of year
$
4,040

 
$
4,660

 
$
424

 
$
447
Change in Plan Assets
The following table sets forth the change in plan assets for the Company’s pension and postretirement benefit plans.
 
Pension Benefits
 
Postretirement Benefits
 
2017
 
2016
 
2017
 
2016
Change in plan assets:
 
 
 
 
 
 
 
Fair value of plan assets, beginning of year
$
3,244

 
$
3,734

 
$
4

 
$
4

Actual return on plan assets
328

 
305

 
—

 
—

Employer contributions
650

 
52

 
56

 
54

Benefits paid
(326
)
 
(328
)
 
(73
)
 
(69
)
Participants’ contributions
—

 
—

 
10

 
11

Retiree Medicare drug subsidy
—

 
—

 
3

 
4

Settlements
(862
)
 
(518
)
 
—

 
—

Cumulative translation adjustments
12

 
(1
)
 
—

 
—

Fair value of plan assets, end of year
$
3,046

 
$
3,244

 
$
—

 
$
4
Funded Status and Amounts Recognized on Consolidated Balance Sheets
The funded status of pension and postretirement benefit obligations and the related amounts recognized on the Company’s Consolidated Balance Sheets were as follows:
 
Pension Benefits
 
Postretirement Benefits
At December 31,
2017
 
2016
 
2017
 
2016
Funded status at end of year
$
(994
)
 
$
(1,416
)
 
$
(424
)
 
$
(443
)
Amounts recognized on the Consolidated Balance Sheets:
 
 
 
 
 
 
 
Other assets
$
12

 
$
13

 
$
—

 
$
—

Current liabilities
(53
)
 
(53
)
 
(49
)
 
(50
)
Noncurrent liabilities
(953
)
 
(1,376
)
 
(375
)
 
(393
)
Net amounts recognized
$
(994
)
 
$
(1,416
)
 
$
(424
)
 
$
(443
)
Amounts Recognized in Accumulated Other Comprehensive Income (Loss)
The following amounts were recognized in accumulated other comprehensive income (loss) on the Consolidated Balance Sheets.
 
Pension Benefits
 
Postretirement Benefits
At December 31,
2017
 
2016
 
2017
 
2016
Net actuarial (loss) gain
$
(1,583
)
 
$
(1,827
)
 
$
189

 
$
230

Net prior service cost
(6
)
 
(7
)
 
—

 
—

Share of equity investee
(2
)
 
(1
)
 
—

 
—

 
(1,591
)
 
(1,835
)
 
189

 
230

Deferred income taxes
606

 
725

 
(25
)
 
(38
)
Net amount recognized in accumulated other
comprehensive income (loss)
$
(985
)
 
$
(1,110
)
 
$
164

 
$
192
Schedule of Accumulated Benefit Obligations in Excess of Plan Assets
Information for the pension plans with an accumulated benefit obligation in excess of plan assets is set forth below.
At December 31,
2017
 
2016
Projected benefit obligation
$
3,933

 
$
4,558

Accumulated benefit obligation
$
3,852

 
$
4,485

Fair value of plan assets
$
2,928

 
$
3,129
Components of Net Periodic Benefit Cost
The following tables present the components of net periodic benefit cost and amounts recognized in other comprehensive income (loss).
 
Pension Benefits
 
Postretirement Benefits
Year Ended December 31,
2017
 
2016
 
2015
 
2017
 
2016
 
2015
Components of net periodic cost:
 
 
 
 
 
 
 
 
 
 
 
Service cost
$
29

 
$
29

 
$
31

 
$
—

 
$
—

 
$
—

Interest cost
191

 
215

 
209

 
18

 
20

 
20

Expected return on plan assets
(201
)
 
(227
)
 
(261
)
 
—

 
—

 
—

Amortization of actuarial losses (gains)
101

 
84

 
79

 
(22
)
 
(21
)
 
(21
)
Amortization of prior service cost
2

 
1

 
1

 
—

 
—

 
—

Settlements
352

 
211

 
—

 
—

 
—

 
—

Net periodic cost
$
474

 
$
313

 
$
59

 
$
(4
)
 
$
(1
)
 
$
(1
)
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
 
Pension
 
Postretirement
Year Ended December 31, 2017
Benefits
 
Benefits
Other comprehensive income (loss):
 
 
 
 
 
45

 
Actuarial loss
 
$
(210
)
 
 
 
$
(19
)
 
Amortization of actuarial losses (gains) (a)
 
101

 
 
 
(22
)
 
Amortization of prior service cost (a)
 
2

 
 
 
—

 
Settlements (a)
 
352

 
 
 
—

 
Cumulative translation adjustments
 
(1
)
 
 
 
—

 
 
 
244

 
 
 
(41
)
 
Deferred income taxes
 
(119
)
 
 
 
13

 
Recognized in other comprehensive income (loss), net of tax
 
$
125

 
 
 
$
(28
)
 
(a)  Reflects amounts reclassified from accumulated other comprehensive income (loss) to net earnings.
Weighted Average Assumptions Used to Determine Benefit Obligations and Net Periodic Costs
 
Pension
 
Postretirement
 
Benefits
 
Benefits
 
2017
 
2016
 
2017
 
2016
Weighted average assumptions used to determine benefit obligations at December 31:
 
 
 
 
 
 
 
Discount rate
3.9
%
 
4.3
%
 
3.9
%
 
4.1
%
Rate of compensation increase
3.0
%
 
3.0
%
 
N/A

 
N/A

Weighted average assumptions used to determine net periodic costs for the year ended December 31:
 
 
 
 
 
 
 
Discount rate
4.3
%
 
4.6
%
 
4.1
%
 
4.2
%
Expected long-term return on plan assets
6.4
%
 
6.4
%
 
2.0
%
 
2.0
%
Rate of compensation increase
3.0
%
 
3.0
%
 
N/A

 
N/A

N/A - not applicable
Assumptions Regarding Heath Care Cost Trend Rates for Postretirement Benefits
The following additional assumptions were used in accounting for postretirement benefits.
 
2017
 
2016
Projected health care cost trend rate
7.0
%
 
6.6
%
Ultimate trend rate
5.0
%
 
5.0
%
Year ultimate trend rate is achieved
2023

 
2021
Impact of One Percentage Point Change in Assumed Health Care Trend Rates
A one percentage point change in assumed health care cost trend rates would have the following effects:
 
One Percentage
 
One Percentage
 
Point Increase
 
Point Decrease
Effect on total service and interest cost components
 
$
—

 
 
 
$
—

 
Effect on the accumulated postretirement benefit obligation
 
$
6

 
 
 
$
(5
)
 
Fair Value of Pension Pan Assets
The following tables set forth the Company’s pension plan assets measured at fair value on a recurring basis at December 31, 2017 and 2016. These assets have been categorized according to the three-level fair value hierarchy established by the FASB which prioritizes the inputs used in measuring fair value. Level 1 is based on quoted prices for the asset in active markets. Level 2 is based on inputs that are observable other than quoted market prices in active markets, such as quoted prices for the asset in inactive markets or quoted prices for similar assets. Level 3 is based on unobservable inputs that market participants would use in pricing the asset.
At December 31, 2017
Level 1
 
Level 2
 
Level 3
 
Total
Cash and cash equivalents (a)
$
8

 
$
80

 
$
—

 
$
88

Fixed income securities:
 
 
 
 
 
 


U.S. treasury securities
135

 
—

 
—

 
135

Government-related securities
12

 
238

 
—

 
250

Corporate bonds (b)
—

 
1,657

 
—

 
1,657

Mortgage-backed and asset-backed securities
—

 
97

 
1

 
98

Equity securities:
 
 
 
 
 
 


U.S. large capitalization
175

 
3

 
—

 
178

U.S. small capitalization
43

 
—

 
—

 
43

International equity
—

 
3

 
—

 
3

Other
—

 
43

 
—

 
43

Total assets in fair value hierarchy
$
373

 
$
2,121

 
$
1

 
$
2,495

Common collective funds measured at net asset value (c) (d)
 
 
 
 
 
 
519

Limited partnerships measured at net asset value (c)
 
 
 
 
 
 
32

Investments, at fair value
 
 
 
 
 
 
$
3,046

At December 31, 2016
Level 1
 
Level 2
 
Level 3
 
Total
Cash and cash equivalents (a)
$
11

 
$
53

 
$
—

 
$
64

Fixed income securities:
 
 
 
 
 
 
 
U.S. treasury securities
132

 
—

 
—

 
132

Government-related securities
18

 
207

 
—

 
225

Corporate bonds (b)
—

 
1,895

 
—

 
1,895

Mortgage-backed and asset-backed securities
—

 
135

 
2

 
137

Equity securities:
 
 
 
 
 
 


U.S. large capitalization
187

 
3

 
—

 
190

U.S. small capitalization
64

 
—

 
—

 
64

International equity
—

 
3

 
—

 
3

Other
—

 
(18
)
 
—

 
(18
)
Total assets in fair value hierarchy
$
412

 
$
2,278

 
$
2

 
$
2,692

Common collective funds measured at net asset value (c) (d)
 
 
 
 
 
 
521

Limited partnerships measured at net asset value (c)
 
 
 
 
 
 
31

Investments, at fair value
 
 
 
 
 
 
$
3,244

(a)  Assets categorized as Level 2 reflect investments in money market funds.
(b)  Securities of diverse sectors and industries, substantially all investment grade.
(c)  In accordance with FASB guidance investments that are measured at fair value using the net asset value per share (or its equivalent) as a practical expedient have not been classified in the fair value hierarchy.
(d)  Underlying investments consist mainly of U.S. large capitalization and international equity securities.
Changes in Fair Value of Level 3 Assets
The table below sets forth a summary of changes in the fair value of investments reflected as Level 3 at December 31, 2017.
 
 
Mortgage-backed
Securities
At January 1, 2016
 
 
$
2

 
Contributions and distributions, net
 
 
—

 
At December 31, 2016
 
 
2

 
Contributions and distributions, net
 
 
(1
)
 
At December 31, 2017
 
 
$
1

 
Estimated Future Benefit Payments
Estimated future benefit payments are as follows: 
 
2018
 
2019
 
2020
 
2021
 
2022
 
2023-2027
Pension
$
448

 
$
266

 
$
263

 
$
261

 
$
258

 
$
1,229

Postretirement
$
54

 
$
52

 
$
49

 
$
46

 
$
43

 
$
172

Retiree Medicare drug subsidy
$
(5
)
 
$
(5
)
 
$
(5
)
 
$
(5
)
 
$
(5
)
 
$
(22
)
Participation in Multi-employer Defined Benefit Pension Plan
The table below presents information concerning the Company’s participation in multiemployer defined benefit pension plans.
 
 
Employer Identification Number/Pension Plan Number
 
Pension
Protection Act
 
Company Contributions
 
Expiration Date of Collective Bargaining Agreement
 
 
 
Zone Status (a)
 
 
Pension Plan
 
 
2017
2016
 
2017
 
2016
 
2015
 
AFTRA Retirement Plan (b)
 
13-6414972-001
 
Green
Green
 
$
6

 
$
6

 
$
5

 
(c)
Directors Guild of America - Producer
 
95-2892780-001
 
Green
Green
 
8

 
6

 
6

 
6/30/2020
Producer-Writers Guild of America
 
95-2216351-001
 
Green
Green
 
15

 
12

 
11

 
5/1/2020
Screen Actors Guild - Producers
 
95-2110997-001
 
Green
Green
 
22

 
11

 
9

 
6/30/2020
Motion Picture Industry
 
95-1810805-001
 
Green
Green
 
14

 
11

 
10

 
(d)
I.A.T.S.E. Local No. 33 Pension Trust Fund (e) 
 
95-6377503-001
 
Green
Green
 
10

 
9

 
8

 
12/31/2019
Other Plans
 
 
 
 
 
 
5

 
5

 
1

 
 
 
 
Total contributions
 
$
80

 
$
60

 
$
50

 
 
(a) The Zone status for each individual plan listed was certified by each plan’s actuary as of the beginning of the plan years for 2017 and 2016. The plan year is the twelve months ending December 31 for each plan listed above except AFTRA Retirement Plan which has a plan year ending November 30.
(b) The Company was listed in AFTRA Retirement Plan’s Form 5500 as providing more than 5% of total contributions for the plan year ended November 30, 2016.
(c) The expiration dates range from June 30, 2018 through December 31, 2020.
(d) The expiration dates range from May 15, 2018 through June 30, 2020.
(e) The Company was listed in I.A.T.S.E. Local No. 33 Pension Trust Fund’s Form 5500 as providing more than 5% of total contributions for the plan year ended December 31, 2016.