Segment Information (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Revenues by Segment

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Revenues:
Advertising	$	1,973	$	2,039	$	6,668	$	7,230
Affiliate and subscription	2,000		2,108		6,156		6,303
Licensing and other	975		1,073		3,025		2,899
TV Media	4,948		5,220		15,849		16,432
Advertising	363		348		1,073		857
Subscription	863		542		2,435		1,398
Direct-to-Consumer	1,226		890		3,508		2,255
Advertising	3		2		17		14
Theatrical	231		67		1,126		202
Licensing and other	549		461		1,627		1,777
Filmed Entertainment	783		530		2,770		1,993
Eliminations	(41)		(30)		(104)		(94)
Total Revenues	$	6,916	$	6,610	$	22,023	$	20,586

Intercompany Revenues by Segment

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Intercompany Revenues:
TV Media	$	9	$	19	$	33	$	38
Direct-to-Consumer	—		1		—		2
Filmed Entertainment	32		10		71		54
Total Intercompany Revenues	$	41	$	30	$	104	$	94

Adjusted OIBDA by Segment and Reconciliation to Net Earnings (Loss)

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Adjusted OIBDA:
TV Media	$	1,231	$	1,385	$	4,155	$	4,654
Direct-to-Consumer	(343)		(198)		(1,244)		(490)
Filmed Entertainment	41		(24)		185		207
Corporate/Eliminations	(104)		(111)		(320)		(351)
Stock-based compensation (a)	(39)		(32)		(114)		(133)
Depreciation and amortization	(92)		(95)		(282)		(289)
Restructuring and other corporate matters	(169)		(46)		(276)		(81)
Net gain on dispositions	41		—		56		116
Operating income	566		879		2,160		3,633
Interest expense	(231)		(243)		(701)		(745)
Interest income	33		11		73		37
Net gains (losses) from investments	(9)		(5)		(9)		47
Loss on extinguishment of debt	—		—		(120)		(128)
Other items, net	(36)		(26)		(91)		(55)
Earnings from continuing operations before income taxes and     equity in loss of investee companies	323		616		1,312		2,789
Provision for income taxes	(101)		(120)		(264)		(312)
Equity in loss of investee companies, net of tax	(58)		(18)		(124)		(80)
Net earnings from continuing operations	164		478		924		2,397
Net earnings from discontinued operations, net of tax	78		73		181		126
Net earnings (Paramount and noncontrolling interests)	242		551		1,105		2,523
Net earnings attributable to noncontrolling interests	(11)		(13)		(22)		(38)
Net earnings attributable to Paramount	$	231	$	538	$	1,083	$	2,485

(a) Included in restructuring and other corporate matters is stock-based compensation expense of $11 million and $13 million for the three and nine months ended September 30, 2022, respectively, and $21 million for each of the three- and nine-month periods of 2021.