| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Operating Activities: | ||||||||||||
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | ||||||||||||
3,301 | 3,460 | 3,320 | 1,552 | 1,554 | 1,151 | 1,738 | 1,508 | 1,263 | 822 | 227 | - | 1,230 |
Net Income (Loss) Attributable to Parent | ||||||||||||
3,339 | 3,492 | 2,373 | 1,261 | 1,413 | 2,959 | 1,879 | 1,574 | 1,305 | 724 | 227 | -11,673 | 1,247 |
Net earnings from discontinued operations, net of tax | ||||||||||||
38 | 32 | -947 | -291 | -141 | 1,808 | 141 | 66 | 42 | -98 | 0 | - | 16 |
Adjustments to reconcile net earnings from continuing operations to net cash flow provided by operating activities: | ||||||||||||
Depreciation and amortization | ||||||||||||
443 | 433 | 443 | 225 | 235 | 250 | 290 | 306 | 313 | 500 | 583 | 531 | 455 |
Television programming and feature film cost amortization | ||||||||||||
12,554 | 11,595 | 10,911 | - | - | - | - | - | - | - | - | - | - |
Impairment charges | ||||||||||||
- | - | - | - | - | - | 0 | 11 | 0 | 0 | 210 | 14,181 | - |
Deferred tax provision (benefit) | ||||||||||||
-769 | 58 | -367 | 144 | 445 | 592 | 433 | 453 | 422 | 293 | 217 | -1,221 | 232 |
Stock-based compensation expense, before income taxes | ||||||||||||
291 | 191 | 232 | 165 | 157 | 137 | 222 | 147 | 134 | 136 | 136 | 137 | 106 |
Redemption of debt | ||||||||||||
- | - | - | 0 | 0 | - | - | 28 | 0 | -60 | - | - | - |
Gain on sale of assets | ||||||||||||
498 | -38 | 377 | 18 | 139 | 11 | 3 | 2 | -10 | 19 | -14 | - | - |
(Gain) loss on marketable securities | ||||||||||||
113 | -23 | 0 | - | - | - | - | - | - | - | - | - | - |
Gain on early extinguishment of debt | ||||||||||||
- | - | - | - | - | - | - | - | - | - | -30 | 8 | - |
Net gain on dispositions | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | 133 | 12 |
Write-down of investments | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | 71 | 24 |
Equity in loss of investee companies, net of tax and distributions | ||||||||||||
-58 | -54 | -15 | -53 | -37 | -57 | -57 | -48 | -46 | -35 | -36 | -23 | -88 |
Decrease to accounts receivable securitization program (Note 7) | ||||||||||||
- | - | - | - | - | - | - | - | - | - | 150 | 0 | - |
Amortization of deferred financing costs | ||||||||||||
- | - | - | - | - | - | - | 12 | 13 | 16 | 8 | 4 | 5 |
Change in assets and liabilities | ||||||||||||
Increase in receivables | ||||||||||||
256 | 368 | 147 | -36 | 376 | 599 | 777 | 237 | 29 | 16 | 54 | 126 | -282 |
Increase in inventory and related program and participation liabilities, net | ||||||||||||
14,215 | 12,185 | 11,544 | 765 | 498 | 214 | -48 | 414 | 159 | -121 | 110 | -243 | 75 |
Decrease (increase) in other assets | ||||||||||||
- | - | - | 85 | -23 | -53 | 16 | -28 | -45 | -123 | -54 | -67 | 19 |
Increase (decrease) in accounts payable and other liabilities | ||||||||||||
297 | -158 | -248 | -16 | -220 | -152 | -135 | -25 | -102 | -23 | -335 | -142 | -278 |
Increase (decrease) in pension and postretirement benefit obligations | ||||||||||||
16 | -65 | -239 | 205 | -46 | -34 | -188 | -190 | -380 | -118 | 92 | - | - |
Increase in income taxes | ||||||||||||
160 | 398 | 345 | 94 | -56 | -298 | 9 | -75 | -49 | -76 | -89 | 55 | 44 |
(Decrease) increase in deferred revenue | ||||||||||||
- | - | - | -137 | 66 | -47 | 90 | -29 | -77 | -79 | 85 | 49 | 99 |
Other, net | ||||||||||||
39 | 11 | -1 | -1 | -7 | -31 | -11 | 8 | -6 | 6 | -13 | -86 | 4 |
Net cash flow provided by operating activities from continuing operations | ||||||||||||
1,230 | 3,463 | 2,345 | 1,454 | 1,189 | 916 | 1,779 | 1,505 | 1,456 | 1,769 | - | - | 2,180 |
Net cash flow provided by operating activities from discontinued operations | ||||||||||||
0 | 1 | 94 | 231 | 205 | 359 | 94 | 310 | 293 | -34 | - | - | 4 |
Net cash flow provided by operating activities | ||||||||||||
1,230 | 3,464 | 2,439 | 1,685 | 1,394 | 1,275 | 1,873 | 1,815 | 1,749 | 1,735 | 939 | 2,146 | 2,185 |
Investing Activities: | ||||||||||||
Investments | ||||||||||||
171 | 161 | 128 | 81 | 98 | 98 | 176 | 91 | 79 | 80 | 56 | 40 | 42 |
Capital expenditures | ||||||||||||
353 | 352 | 356 | 196 | 171 | 178 | 212 | 200 | 199 | 254 | 262 | 474 | 469 |
Acquisitions, net of cash acquired | ||||||||||||
399 | 118 | 289 | 92 | 12 | 2 | 20 | 146 | 67 | 11 | 26 | 2,035 | 410 |
Proceeds from sale of investments | ||||||||||||
- | - | - | 0 | 80 | 12 | 7 | 13 | 12 | 0 | - | 212 | 49 |
Purchases of marketable securities | ||||||||||||
- | - | - | - | - | - | - | - | - | - | 36 | 6 | - |
Proceeds from dispositions | ||||||||||||
756 | 39 | 892 | 20 | 383 | 4 | 164 | 49 | 17 | 18 | 131 | 198 | 562 |
Net (payments to) receipts from Viacom Inc. related to the Separation | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | - | 172 |
Other investing activities | ||||||||||||
-14 | -4 | -31 | -15 | 3 | 4 | -23 | 0 | - | 1 | 0 | 9 | -2 |
Net cash flow (used for) provided by investing activities from continuing operations | ||||||||||||
-153 | -588 | 150 | -334 | 179 | -266 | -214 | -375 | -316 | -328 | - | - | - |
Net cash flow used for investing activities from discontinued operations | ||||||||||||
-2 | -23 | -24 | -6 | -25 | -335 | -58 | -76 | -73 | -40 | - | - | - |
Net cash flow provided by investing activities | ||||||||||||
-155 | -611 | 126 | -340 | 154 | -601 | -272 | -451 | -389 | -368 | -249 | -2,154 | -135 |
Financing Activities: | ||||||||||||
Repayments of short-term debt borrowings, net | ||||||||||||
25 | -5 | 229 | 450 | -616 | 141 | 475 | 0 | 0 | - | - | - | - |
Repayments to banks, including commercial paper, net | ||||||||||||
- | - | - | - | - | - | - | - | - | - | - | -5 | 1 |
Proceeds from issuance of senior notes | ||||||||||||
492 | 0 | 3,157 | 684 | 1,959 | 1,728 | 0 | 1,566 | 0 | 1,094 | 973 | 0 | 678 |
Proceeds from IPO of Outdoor Americas | ||||||||||||
- | - | - | - | - | 613 | - | - | - | - | - | - | - |
Repayment of notes and debentures | ||||||||||||
910 | 1,102 | 4,729 | 199 | 0 | 1,152 | 0 | 1,583 | 0 | 2,126 | 1,008 | 183 | 660 |
Proceeds from debt borrowings of CBS Radio | ||||||||||||
- | - | - | 1,452 | 0 | 1,569 | - | - | - | - | - | - | - |
Repayment of debt borrowings of CBS Radio | ||||||||||||
- | - | - | 110 | 0 | 0 | - | - | - | - | - | - | - |
Payment of capital lease obligations | ||||||||||||
- | - | - | 18 | 17 | 17 | 17 | 19 | 19 | 16 | 16 | 17 | 16 |
Payment of contingent consideration | ||||||||||||
- | - | - | - | - | - | 30 | 33 | 0 | 0 | - | - | - |
Dividends | ||||||||||||
595 | 599 | 616 | 288 | 300 | 292 | 300 | 276 | 206 | 142 | 297 | 705 | 640 |
Purchase of Company common stock | ||||||||||||
57 | 586 | 1,111 | 2,997 | 2,813 | 3,595 | 2,185 | 1,137 | 1,012 | 0 | 0 | 46 | 3,351 |
Payment of payroll taxes in lieu of issuing shares for stock-based compensation | ||||||||||||
56 | 67 | 103 | 58 | 96 | 146 | 145 | 105 | 82 | 37 | 19 | - | - |
Proceeds from exercise of stock options | ||||||||||||
15 | 29 | 263 | 21 | 142 | 283 | 146 | 168 | 72 | 7 | 0 | 31 | 201 |
Excess tax benefit from stock-based compensation | ||||||||||||
- | - | - | 17 | 88 | 243 | 148 | 103 | 72 | 16 | 1 | 6 | - |
Decrease to accounts receivable securitization program | ||||||||||||
- | - | - | - | - | - | - | - | - | 400 | 0 | 0 | - |
Other financing activities | ||||||||||||
-130 | -201 | -99 | 0 | 0 | -18 | -4 | 0 | -5 | 0 | -27 | 0 | 9 |
Net cash flow provided by (used for) financing activities from continuing operations | ||||||||||||
- | - | - | - | - | - | -1,912 | -1,316 | - | -1,604 | - | - | - |
Net cash flow provided by (used for) financing activities from discontinued operations | ||||||||||||
- | - | - | - | - | - | 0 | 0 | - | - | - | - | - |
Net cash flow used for financing activities | ||||||||||||
-1,216 | -2,531 | -3,009 | -1,046 | -1,653 | -643 | -1,912 | -1,316 | -1,180 | - | -393 | -919 | -3,777 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | ||||||||||||
-1 | -25 | 58 | - | - | - | - | - | - | - | - | - | - |
Net (decrease) increase in cash, cash equivalents and restricted cash | ||||||||||||
-142 | 297 | -386 | 299 | -105 | 31 | -311 | 48 | 180 | -237 | 297 | -927 | -1,727 |