Entity_information
Entity information (USD $) | 12 Months Ended | ||||
Sep. 30, 2013 | Nov. 06, 2013 | Sep. 30, 2013 | Nov. 06, 2013 | Sep. 30, 2013 | |
Common stock, Class A [Member] | Common stock, Class A [Member] | Common stock, Class B [Member] | Common stock, Class B [Member] | ||
Entity Information [Abstract] | ' | ' | ' | ' | ' |
Current fiscal year end date | '--09-30 | ' | ' | ' | ' |
Entity central index key | '0001339947 | ' | ' | ' | ' |
Entity current reporting status | 'Yes | ' | ' | ' | ' |
Entity filer category | 'Large Accelerated Filer | ' | ' | ' | ' |
Entity registrant name | 'Viacom Inc. | ' | ' | ' | ' |
Entity voluntary filers | 'No | ' | ' | ' | ' |
Entity well-known seasoned issuer | 'Yes | ' | ' | ' | ' |
Statement [Line Items] | ' | ' | ' | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 51,113,772 | ' | 394,867,157 | ' |
Entity public float | ' | ' | $664,774,484 | ' | $26,639,785,923 |
Document_information
Document information | 12 Months Ended |
Sep. 30, 2013 | |
Document Information [Abstract] | ' |
Document type | '10-K |
Document period end date | 30-Sep-13 |
Document Fiscal Year Focus | '2013 |
Document Fiscal Period Focus | 'FY |
Amendment flag | 'false |
CONSOLIDATED_STATEMENTS_OF_EAR
CONSOLIDATED STATEMENTS OF EARNINGS (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
CONSOLIDATED STATEMENTS OF EARNINGS [ABSTRACT] | ' | ' | ' |
Sales Revenue, Net | $13,794 | $13,887 | $14,914 |
Expenses [Abstract]: | ' | ' | ' |
Operating | 6,799 | 6,993 | 7,868 |
Selling, general and administrative | 2,829 | 2,757 | 2,921 |
Depreciation and amortization | 237 | 236 | 271 |
Restructuring | 93 | 0 | 144 |
Total expenses | 9,958 | 9,986 | 11,204 |
Operating Income | 3,836 | 3,901 | 3,710 |
Interest Expense Net | -464 | -417 | -412 |
Equity in net losses of investee companies | 41 | 12 | 40 |
Loss on extinguishment of debt | 0 | -21 | -87 |
Other items, net | 106 | -5 | -6 |
Earnings From Continuing Operations Before Provision For Income Taxes | 3,519 | 3,470 | 3,245 |
Provision for income taxes | -1,070 | -1,085 | -1,062 |
Net earnings from continuing operations | 2,449 | 2,385 | 2,183 |
Discontinued operations, net of tax | -12 | -364 | -10 |
Net earnings (Viacom and noncontrolling interests) | 2,437 | 2,021 | 2,173 |
Net (losses) earnings attributable to noncontrolling interests | -42 | -40 | -37 |
Net earnings attributable to Viacom | 2,395 | 1,981 | 2,136 |
Amounts attributable to Viacom [Abstract]: | ' | ' | ' |
Net earnings from continuing operations attributable to Viacom | 2,407 | 2,345 | 2,146 |
Discontinued operations, net of tax | -12 | -364 | -10 |
Net earnings attributable to Viacom | $2,395 | $1,981 | $2,136 |
Basic earnings per share attributable to Viacom [Abstract]: | ' | ' | ' |
Income (Loss) from Continuing Operations, Per Basic Share | $4.95 | $4.42 | $3.65 |
Income Loss From Discontinued Operations Net Of Tax Per Basic Share | ($0.02) | ($0.69) | ($0.01) |
Basic net earnings per share attributable to Viacom | $4.93 | $3.73 | $3.64 |
Diluted earnings per share attributable to Viacom [Abstract]: | ' | ' | ' |
Income (Loss) From Continuing Operations Per Diluted Share | $4.86 | $4.36 | $3.61 |
Income Loss From Discontinued Operations Net Of Tax Per Diluted Share | ($0.02) | ($0.67) | ($0.02) |
Diluted net earnings per share attributable to Viacom | $4.84 | $3.69 | $3.59 |
Weighted average number of common shares outstanding [Abstract]: | ' | ' | ' |
Weighted average number of common shares outstanding, basic | 486.2 | 530.7 | 587.3 |
Weighted average number of common shares outstanding, diluted | 494.8 | 537.5 | 594.3 |
Dividends declared per share of Class A and Class B common stock | $1.15 | $1.05 | $0.80 |
CONSOLIDATED_STATEMENT_OF_COMP
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Other Comprehensive Income | ' | ' | ' |
Net Income Including Portion Attributable to Noncontrolling Interest | $2,437 | $2,021 | $2,173 |
Foreign currency translation adjustments | -42 | -41 | 47 |
Defined benefit pension plans | -190 | 63 | 48 |
Cash flow hedges | 9 | 6 | -48 |
Available for sale securities | 3 | -1 | -2 |
Other comprehensive income loss (Viacom and noncontrolling interests) | 160 | -99 | -51 |
Comprehensive income | 2,597 | 1,922 | 2,122 |
Comprehensive income attributable to noncontrolling interests | 39 | 41 | 36 |
Comprehensive income attributable to Viacom | $2,558 | $1,881 | $2,086 |
CONSOLIDATED_STATEMENT_OF_COMP1
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (Parenthetical) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Other Comprehensive Income Loss Tax Parenthetical Disclosures Abstract | ' | ' | ' |
Income tax expense (benefit) on defined benefit pension plans | ($122) | $41 | $31 |
Income tax expense (benefit) on cash flow hedges | -4 | 4 | -29 |
Income tax expense (benefit) on available for sale securities | $1 | $1 | ($2) |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Assets Current Abstract | ' | ' |
Cash and cash equivalents | $2,403 | $848 |
Receivables, net | 2,987 | 2,533 |
Inventory Net | 770 | 832 |
Deferred Tax Assets, Net, Current | 58 | 68 |
Prepaid and other assets | 508 | 572 |
Total current assets | 6,726 | 4,853 |
Property and equipment - net | 1,040 | 1,068 |
Inventory Noncurrent | 3,945 | 4,205 |
Goodwill | 11,079 | 11,045 |
Intangibles, net | 279 | 328 |
Other assets | 760 | 751 |
Total assets | 23,829 | 22,250 |
Current liabilities [Abstract]: | ' | ' |
Accounts payable | 316 | 255 |
Accrued expenses | 1,074 | 943 |
Participants' share and residuals | 1,110 | 989 |
Program rights obligations | 576 | 569 |
Deferred revenue | 230 | 230 |
Current portion of debt | 18 | 18 |
Other liabilities | 466 | 826 |
Total current liabilities | 3,790 | 3,830 |
Noncurrent portion of debt | 11,867 | 8,131 |
Participants' share and residuals, noncurrent | 437 | 533 |
Program rights obligations, noncurrent | 527 | 642 |
Deferred tax liabilities, net | 649 | 5 |
Other liabilities | 1,169 | 1,491 |
Redeemable noncontrolling interest | 200 | 179 |
Commitments and contingencies (Note 11) | ' | ' |
Viacom Stockholders' equity | ' | ' |
Additional paid-in-capital | 9,490 | 8,916 |
Treasury stock | -15,825 | -11,025 |
Treasury stock held | 336.3 | 267.1 |
Retained earnings | 11,629 | 9,820 |
Total, accumulated other comprehensive income (loss) | -101 | -264 |
Total Viacom stockholders' equity | 5,193 | 7,448 |
Noncontrolling interests | -3 | -9 |
Total equity | 5,190 | 7,439 |
Total liabilities and equity | 23,829 | 22,250 |
Common stock, Class A [Member] | ' | ' |
Viacom Stockholders' equity | ' | ' |
Common stock, value | 0 | 0 |
Common stock, Class B [Member] | ' | ' |
Viacom Stockholders' equity | ' | ' |
Common stock, value | 0 | 1 |
Common Stock/APIC | ' | ' |
Viacom Stockholders' equity | ' | ' |
Total equity | 9,490 | 8,917 |
Treasury Stock | ' | ' |
Viacom Stockholders' equity | ' | ' |
Total equity | -15,825 | -11,025 |
Retained Earnings | ' | ' |
Viacom Stockholders' equity | ' | ' |
Total equity | 11,629 | 9,820 |
Accumulated Other Comprehensive Income (Loss) | ' | ' |
Viacom Stockholders' equity | ' | ' |
Total equity | -101 | -264 |
Total Viacom Stockholders' Equity | ' | ' |
Viacom Stockholders' equity | ' | ' |
Total equity | 5,193 | 7,448 |
Noncontrolling Interests | ' | ' |
Viacom Stockholders' equity | ' | ' |
Total equity | ($3) | ($9) |
CONSOLIDATED_BALANCE_SHEET_Par
CONSOLIDATED BALANCE SHEET (Parenthetical) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, except Per Share data, unless otherwise specified | ||
Treasury Stock | 336.3 | 267.1 |
Common stock, Class A [Member] | ' | ' |
Common stock, par value | 0.001 | 0.001 |
Common Stock Authorized | 375 | 375 |
Common stock, outstanding | 51.1 | 51.1 |
Common stock, Class B [Member] | ' | ' |
Common stock, par value | 0.001 | 0.001 |
Common Stock Authorized | 5,000 | 5,000 |
Common stock, outstanding | 398.2 | 455.9 |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
OPERATING ACTIVITIES [Abstract] | ' | ' | ' |
Net Income Including Portion Attributable to Noncontrolling Interest | $2,437 | $2,021 | $2,173 |
Discontinued operations, net of tax | 12 | 364 | 10 |
Net earnings from continuing operations | 2,449 | 2,385 | 2,183 |
Reconciling items [Abstract]: | ' | ' | ' |
Depreciation and amortization | 237 | 236 | 271 |
Feature film and program amortization | 4,371 | 4,380 | 4,809 |
Equity based compensation | 128 | 122 | 128 |
Gain on sale of HBO Pacific Partners and LAPTV | 111 | 0 | 0 |
Equity in net losses and distributions from investee companies | -15 | 6 | 32 |
Deferred income taxes | 494 | -87 | 376 |
Operating assets and liabilities, net of acquisitions [Abstract]: | ' | ' | ' |
Receivables | -354 | 270 | -398 |
Inventory, program rights and participations | -4,063 | -4,492 | -4,538 |
Accounts payable and other current liabilities | -99 | -367 | -92 |
Other, net | 47 | 56 | -42 |
Discontinued operations, net | -31 | 1 | -21 |
Cash provided by operations | 3,083 | 2,498 | 2,644 |
INVESTING ACTIVITIES [Abstract] | ' | ' | ' |
Acquisitions and investments, net | 124 | -18 | -72 |
Capital expenditures | -160 | -154 | -155 |
Discontinued Operations Net | -299 | -84 | 0 |
Net cash flow used in investing activities | -335 | -256 | -227 |
FINANCING ACTIVITIES [Abstract] | ' | ' | ' |
Borrowings | 3,732 | 2,116 | 982 |
Debt repayments | 0 | -892 | -776 |
Commercial paper | 0 | -423 | 423 |
Purchase of treasury stock | -4,664 | -2,809 | -2,450 |
Dividends Paid | -555 | -554 | -417 |
Excess tax benefits on equity-based compensation awards | 97 | 37 | 13 |
Exercise of stock options | 403 | 268 | 164 |
Other, net | -172 | -156 | -166 |
Net cash flow used in financing activities | -1,159 | -2,413 | -2,227 |
Effect of exchange rate changes on cash and cash equivalents | -34 | -2 | -6 |
Increase (decrease) in cash and cash equivalents | 1,555 | -173 | 184 |
Cash and cash equivalents at beginning of period | 848 | 1,021 | 837 |
Cash and cash equivalents at end of period | $2,403 | $848 | $1,021 |
CONSOLIDATED_STATEMENTS_OF_STO
CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (USD $) | Total | Common Stock Outstanding | Common Stock/APIC | Treasury Stock | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Total Viacom Stockholders' Equity | Noncontrolling Interests |
In Millions, unless otherwise specified | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |
Equity, at beginning of period at Sep. 30, 2010 | $9,259 | ' | $8,347 | ($5,725) | $6,775 | ($114) | $9,283 | ($24) |
Shares issued, at beginning of period at Sep. 30, 2010 | ' | 608.5 | ' | ' | ' | ' | ' | ' |
Schedule of Capitalization Equity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Net earnings | 2,173 | ' | ' | ' | 2,136 | ' | 2,136 | 37 |
Other Comprehensive Income Loss Net Of Tax | -51 | ' | ' | ' | ' | -50 | -50 | -1 |
Noncontrolling interests | -45 | ' | ' | ' | -22 | ' | -22 | -23 |
Dividends declared | -471 | ' | ' | ' | -471 | ' | -471 | ' |
Purchase of treasury stock, value | -2,500 | ' | ' | -2,500 | ' | ' | -2,500 | ' |
Purchase of treasury stock, shares | ' | 55.7 | ' | ' | ' | ' | ' | ' |
Equity based compensation and other, value | 268 | ' | 268 | ' | ' | ' | 268 | ' |
Equity based compensation and other, shares | ' | 5.5 | ' | ' | ' | ' | ' | ' |
Equity, at end of period at Sep. 30, 2011 | 8,633 | ' | 8,615 | -8,225 | 8,418 | -164 | 8,644 | -11 |
Shares issued, at end of period at Sep. 30, 2011 | ' | 558.3 | ' | ' | ' | ' | ' | ' |
Schedule of Capitalization Equity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Net earnings | 2,021 | ' | ' | ' | 1,981 | ' | 1,981 | 40 |
Other Comprehensive Income Loss Net Of Tax | -99 | ' | ' | ' | ' | -100 | -100 | 1 |
Noncontrolling interests | -59 | ' | ' | ' | -20 | ' | -20 | -39 |
Dividends declared | -559 | ' | ' | ' | -559 | ' | -559 | ' |
Purchase of treasury stock, value | -2,800 | ' | ' | -2,800 | ' | ' | -2,800 | ' |
Purchase of treasury stock, shares | ' | 59.9 | ' | ' | ' | ' | ' | ' |
Equity based compensation and other, value | 302 | ' | 302 | ' | ' | ' | 302 | ' |
Equity based compensation and other, shares | ' | 8.6 | ' | ' | ' | ' | ' | ' |
Equity, at end of period at Sep. 30, 2012 | 7,439 | ' | 8,917 | -11,025 | 9,820 | -264 | 7,448 | -9 |
Shares issued, at end of period at Sep. 30, 2012 | ' | 507 | ' | ' | ' | ' | ' | ' |
Schedule of Capitalization Equity [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Net earnings | 2,437 | ' | ' | ' | 2,395 | ' | 2,395 | 42 |
Other Comprehensive Income Loss Net Of Tax | 160 | ' | ' | ' | ' | 163 | 163 | -3 |
Noncontrolling interests | -57 | ' | ' | ' | -24 | ' | -24 | -33 |
Dividends declared | -562 | ' | ' | ' | -562 | ' | -562 | ' |
Purchase of treasury stock, value | -4,800 | ' | ' | -4,800 | ' | ' | -4,800 | ' |
Purchase of treasury stock, shares | ' | 69.2 | ' | ' | ' | ' | ' | ' |
Equity based compensation and other, value | 573 | ' | 573 | ' | ' | ' | 573 | ' |
Equity based compensation and other, shares | ' | 11.5 | ' | ' | ' | ' | ' | ' |
Equity, at end of period at Sep. 30, 2013 | $5,190 | ' | $9,490 | ($15,825) | $11,629 | ($101) | $5,193 | ($3) |
Shares issued, at end of period at Sep. 30, 2013 | ' | 449.3 | ' | ' | ' | ' | ' | ' |
Description_of_Business_and_Ba
Description of Business and Basis of Presentation | 12 Months Ended |
Sep. 30, 2013 | |
Description Of Business And Basis Of Presentation [Abstract] | ' |
Description of Business and Basis of Presentation | ' |
NOTE 1. BASIS OF PRESENTATION | |
Description of Business | |
Viacom Inc. is a leading global entertainment content company that connects with audiences in over 160 countries and territories through compelling content including television programming, motion pictures, short-form videos, games, applications (“apps”) consumer products and a variety of other forms of content. Viacom operates through two reporting segments: Media Networks, which includes Music and Logo, Nickelodeon, Entertainment and BET Networks; and Filmed Entertainment. The Media Networks segment provides entertainment content and related branded products for consumers in targeted demographics attractive to advertisers, content distributors and retailers. The Filmed Entertainment segment produces, finances, acquires and distributes motion pictures and other entertainment content under the Paramount Pictures, Paramount Vantage, Paramount Classics, Insurge Pictures, MTV Films and Nickelodeon Movies brands. References in this document to “Viacom”, “Company”, “we”, “us”, or “our” mean Viacom Inc. and our consolidated subsidiaries, unless the context requires otherwise. | |
The consolidated financial statements present the Company's financial results for the years ended September 30, 2013 (“2013”), September 30, 2012 (“2012”) and September 30, 2011 (“2011”). | |
Reclassifications | |
Certain prior year amounts have been reclassified to conform to the 2013 presentation. |
Significant_Accounting_Policie
Significant Accounting Policies | 12 Months Ended | ||||||
Sep. 30, 2013 | |||||||
Significant Accounting Policies Disclosure [Abstract] | ' | ||||||
Significant Accounting Policies Disclosure | ' | ||||||
NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |||||||
Principles of Consolidation | |||||||
Our consolidated financial statements include the accounts of Viacom Inc., its subsidiaries and variable interest entities (“VIEs”) where we are considered the primary beneficiary, after elimination of intercompany accounts and transactions. Investments in business entities in which Viacom lacks control but does have the ability to exercise significant influence over operating and financial policies are accounted for using the equity method. Our proportionate share of net income or loss of the entity is recorded in Equity in net earnings of investee companies in the Consolidated Statements of Earnings. Related party transactions between the Company and CBS Corporation (“CBS”) and National Amusements Inc. (“NAI”) have not been eliminated. | |||||||
Revenue Recognition | |||||||
We recognize revenue when it is realized or realizable and earned. We consider revenue realized or realizable and earned when there is persuasive evidence of an arrangement, delivery has occurred, the sales price is fixed or determinable, and collectability is reasonably assured. Determining whether some or all of these criteria have been met involves assumptions and judgments that can have a significant impact on the timing and amount of revenue we report. This includes the evaluation of multiple element arrangements for bundled advertising sales and content licenses, which involves allocating the consideration among individual deliverables within the bundled arrangement. | |||||||
Advertising Revenues | |||||||
Revenues from the sale of advertising earned by the Media Networks segment is recognized, net of agency commissions, when the advertisement is aired and the contracted audience rating is met. Should the advertisement fail to meet the contracted audience rating, we record a liability referred to as an audience deficiency unit liability. The liability is relieved when the audience rating is satisfied, typically through the provision of additional air time for the advertiser. | |||||||
Feature Film Revenues | |||||||
Revenue is recognized from theatrical distribution of motion pictures upon exhibition. For home entertainment product revenue, including sales to wholesalers and retailers, revenue is recognized upon the later of delivery or the date that those products are made widely available for sale by retailers. Revenue from the licensing of feature films for exhibition in television markets, when fixed, is recognized upon availability for airing by the licensee. Revenue for video-on-demand and similar pay-per-view arrangements are recognized as the feature films are exhibited based on end-customer purchases as reported by the distributor. | |||||||
Affiliate Fees | |||||||
Affiliate fees from cable television, satellite and telecommunications operators are recognized by the Media Networks segment as the service is provided to the distributor. Fees associated with digital distribution arrangements are recognized upon program availability. | |||||||
Ancillary Revenues | |||||||
Revenue associated with consumer products and brand licensing is typically recognized utilizing contractual royalty rates applied to sales amounts reported by licensees. Revenue for online transactions, such as electronic streaming or downloads of films and programming or product add-ons, is recognized when the fee is paid by the online customer to access the content. We are notified by the online retailer that the product has been downloaded and all other revenue recognition criteria are met. Ancillary online subscription revenues are generally recognized on a straight-line basis over the service period. | |||||||
Gross versus Net Revenue | |||||||
We earn and recognize revenues as a distributor on behalf of third parties. In such cases, determining whether revenue should be reported on a gross or net basis is based on management's assessment of whether we act as the principal or agent in the transaction. To the extent we act as the principal in a transaction, revenues are reported on a gross basis. Determining whether we act as principal or agent in a transaction involves judgment and is based on an evaluation of whether we have the substantial risks and rewards of ownership under the terms of an arrangement. | |||||||
Our most significant distribution arrangements are in connection with our distribution agreement with CBS and our continuing relationship with DreamWorks Animation for the films we theatrically distributed. We distributed the final film under the DreamWorks Animation distribution arrangement in November 2012. Under the terms of these agreements, we are generally responsible for all out-of-pocket costs, primarily comprised of distribution and marketing costs. For the provision of distribution services, we generally retain a fee based upon a percentage of gross receipts and recover expended distribution and marketing costs on a title-by-title basis prior to any participation payments to the contracting parties of the films, except as pertains to certain contractually agreed upon advance payments, if applicable. As primary obligor, revenue and related distribution and marketing costs for these arrangements are presented on a gross basis. | |||||||
Sales Returns, Allowances & Uncollectible Accounts | |||||||
We record a provision for sales returns and allowances at the time of sale based upon an estimate of future returns, rebates and other incentives (“estimated returns”). In determining estimated returns, we consider numerous sources of qualitative and quantitative evidence including forecasted sales data, customers' rights of return, units shipped and units remaining at retail, historical return rates for similar product, current economic trends, competitive environment, promotions and sales strategies. Reserves for accounts receivable are based on amounts estimated to be uncollectible. Our reserve for sales returns and allowances was $261 million and $282 million at September 30, 2013 and 2012, respectively. Our allowance for doubtful accounts was $33 million and $36 million at September 30, 2013 and 2012, respectively. | |||||||
Inventory | |||||||
Inventories related to film and original media network programming content (which include direct production costs, production overhead, acquisition costs and development costs) are stated at the lower of amortized cost or fair value. Acquired program rights and obligations are recorded based on the gross amount of the liability when the license period has begun, and when the program is accepted and available for airing. Acquired programming is stated at the lower of unamortized cost or net realizable value. Film and programming inventories are included as a component of Inventory, net, in the Consolidated Balance Sheets. | |||||||
Film inventories are amortized and estimated liabilities for residuals and participations are accrued using an individual-film-forecast-computation method based on the ratio of current period to estimated remaining total revenues (“ultimate revenues”). Ultimate revenues for feature films include revenues from all sources that are estimated to be earned within ten years from the date of a film's initial theatrical release. For acquired film libraries, our estimate of ultimate revenues is for a period within 20 years from the date of acquisition. These estimates are periodically reviewed and adjustments, if any, will result in changes to inventory amortization rates, estimated accruals for residuals and participations or possibly the recognition of an impairment charge to operating income. Film development costs that have not been set for production are expensed within three years unless they are abandoned earlier, in which case these projects are written down to their estimated fair value in the period the decision to abandon the project is determined. We have a rigorous greenlight process designed to manage the risk of loss or abandonment. Film costs, including inventory amortization, development costs, residuals and participations accruals and impairment charges, if any, are included within Operating expenses in the Consolidated Statements of Earnings. We have entered into film financing arrangements that involve the sale of a partial copyright interest in a film. Amounts received under these arrangements are deducted from the film's cost. | |||||||
We acquire rights to programming and produce original programming to exhibit on our media networks. The costs incurred in acquiring and producing programs are capitalized and amortized over the license period or projected useful life of the programming if shorter. Costs related to programs produced are capitalized and amortized over the projected useful life. Original programming development costs are expensed unless a project is greenlit for production. An impairment charge is recorded when the fair value of the original programming is less than the unamortized production cost or the programming is abandoned. Net realizable value of acquired rights programming is evaluated quarterly by us on a daypart basis, which is defined as an aggregation of programs broadcast during a particular time of day or an aggregation of programs of a similar type. We aggregate similar programming based on the specific demographic targeted by each respective program service. Net realizable value is determined by estimating advertising revenues to be derived from the future airing of the programming within the daypart as well as an allocation of affiliate fee revenue to the programming. An impairment charge may be necessary if our estimates of future cash flows of similar programming are insufficient or if programming is abandoned. Programming costs, including inventory amortization, development costs and impairment charges, if any, are included within Operating expenses in the Consolidated Statements of Earnings. | |||||||
Home entertainment inventory is valued at the lower of cost or net realizable value. Cost is determined using the average cost method. Obsolescence reserves are based on estimates of future product demand. | |||||||
Advertising Expense | |||||||
We expense advertising costs as they are incurred. We incurred total advertising expenses of $1.117 billion in 2013, $1.205 billion in 2012 and $1.479 billion in 2011. | |||||||
Business Combinations | |||||||
We account for business combinations using the acquisition method of accounting. Under the acquisition method, once control is obtained of a business, 100% of the assets, liabilities and certain contingent liabilities acquired, including amounts attributed to noncontrolling interests, are recorded at fair value. Any transaction costs are expensed as incurred. | |||||||
Goodwill, Intangible Assets and Other Long-Lived Assets | |||||||
Goodwill represents the residual difference between the fair value of consideration paid for a business and the net assets acquired. Goodwill is not amortized, but rather is tested annually for impairment, on August 31 each year, or sooner when circumstances indicate impairment may exist. Goodwill is tested for impairment at the reporting unit level, which is an operating segment, or a business which is one level below that operating segment. | |||||||
Identifiable intangible assets with finite lives are amortized over their estimated useful lives, which range up to 20 years, and identifiable intangible assets with indefinite lives are not amortized, but rather are tested annually for impairment, or sooner when circumstances indicate impairment may exist. Amortizable intangible assets and other long-lived assets are tested for impairment utilizing an income approach based on undiscounted cash flows upon the occurrence of certain triggering events and, if impaired, are written down to fair value. | |||||||
Comprehensive Income | |||||||
Comprehensive income includes net earnings, foreign currency translation adjustments, amortization of amounts related to defined benefit plans, unrealized gains and losses on certain derivative financial instruments, and unrealized gains and losses on investments in equity securities which are publicly traded. | |||||||
Earnings per Common Share | |||||||
Basic earnings per common share is computed by dividing Net earnings attributable to Viacom by the weighted average number of common shares outstanding during the period. The determination of diluted earnings per common share includes the weighted average number of common shares plus the dilutive effect of equity awards based upon the application of the treasury stock method. Anti-dilutive common shares were excluded from the calculation of diluted earnings per common share. | |||||||
The following table sets forth the weighted average number of common shares outstanding used in determining basic and diluted earnings per common share and anti-dilutive shares: | |||||||
Provision for Income Taxes | |||||||
Our provision for income taxes includes the current tax owed on the current period earnings, as well as a deferred provision which reflects the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Changes in existing tax laws and rates, their related interpretations, as well as the uncertainty generated by the prospect of tax legislation in the future may affect the amounts of deferred tax liabilities or the realizability of deferred tax assets. | |||||||
For tax positions we have taken or expect to take in a tax return, we apply a more likely than not assessment (i.e., there is a greater than 50 percent chance) about whether the tax position will be sustained upon examination by the appropriate tax authority with full knowledge of all relevant information. Amounts recorded for uncertain tax positions are periodically assessed, including the evaluation of new facts and circumstances, to ensure sustainability of the position. Interest and penalties related to uncertain tax positions are included in the Provision for income taxes in the Consolidated Statements of Earnings. Liabilities for uncertain tax positions are classified as Other liabilities – current or noncurrent in the Consolidated Balance Sheets based on when they are expected to be paid. | |||||||
Pension Benefits | |||||||
Our defined benefit pension plans principally consist of both funded and unfunded noncontributory plans covering the majority of domestic employees and retirees. The funded plan provides a defined benefit based on a percentage of eligible compensation for periods of service. In November 2012, we amended the funded defined benefit pension plan to freeze future benefits effective December 31, 2012. The unfunded pension plans are also currently frozen to future benefit accruals. The expense we recognize is determined using certain assumptions, including the expected long-term rate of return and discount rate, among others. We recognize the funded status of our defined benefit plans (other than a multiemployer plan) as an asset or liability in the Consolidated Balance Sheets and recognize the changes in the funded status in the year in which the changes occur through Accumulated other comprehensive loss in the Consolidated Balance Sheets. | |||||||
Property and Equipment | |||||||
Property and equipment is stated at cost. Depreciation is calculated using the straight-line method. Leasehold improvements are amortized using the straight-line method over the shorter of their useful lives or the life of the lease. Costs associated with repairs and maintenance of property and equipment are expensed as incurred. | |||||||
Equity-Based Compensation | |||||||
We measure the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of the award. The fair value received is recognized in earnings over the period during which an employee is required to provide service. | |||||||
Investments | |||||||
Our investments primarily consist of investments in equity. Investments in which we have a significant influence, but not a controlling interest, are accounted for using the equity method. Other investments are carried at fair value, to the extent publicly traded, with unrealized gains and losses recorded in other comprehensive income, or at cost. We monitor our investments for impairment at least annually and make appropriate reductions in carrying values if we determine that an impairment charge is required based on qualitative and quantitative information. Our investments are included in Other assets – noncurrent in the Consolidated Balance Sheets. | |||||||
Guarantees | |||||||
At the inception of a guarantee, we recognize a liability for the fair value of an obligation assumed by issuing the guarantee. The related liability is subsequently reduced as utilized or extinguished and increased if there is a probable loss associated with the guarantee which exceeds the value of the recorded liability. | |||||||
Derivative Financial Instruments | |||||||
Derivative financial instruments are recorded on the Consolidated Balance Sheets as assets or liabilities and measured at fair value. For derivatives designated as hedges of the fair value of assets or liabilities, the changes in fair value of both the derivatives and the hedged items are recorded in current earnings as part of Other items, net in the Consolidated Statements of Earnings. For derivatives designated as cash flow hedges, the effective portion of the changes in fair value of the derivatives is recorded in Accumulated other comprehensive loss in the Consolidated Balance Sheets and subsequently recognized in earnings when the hedged items impact income. The fair value of derivative financial instruments is included in Prepaid and other assets and Other liabilities – current in the Consolidated Balance Sheets. Changes in the fair value of derivatives not designated as hedges and the ineffective portion of cash flow hedges are recorded in earnings. We do not hold or enter into financial instruments for speculative trading purposes. | |||||||
Foreign Currency Translation | |||||||
Assets and liabilities of subsidiaries with a functional currency other than the United States (“U.S.”) Dollar are translated into U.S. Dollars using period-end exchange rates, while results of operations are translated at average exchange rates during the period. Foreign currency translation gains and losses are included as a component of Accumulated other comprehensive loss in the Consolidated Balance Sheets. Substantially all of our foreign operations use the local currency as the functional currency. Foreign subsidiaries using the U.S. Dollar as the functional currency include remeasurement adjustments in earnings, which are reflected within Other items, net in the Consolidated Statements of Earnings. | |||||||
Fair Value Measurements | |||||||
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The framework for measuring fair value provides a hierarchy that prioritizes the inputs to valuation techniques used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy are as follows: | |||||||
Level 1 - Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets. | |||||||
Level 2 - Inputs to the valuation methodology include: quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in inactive markets; inputs other than quoted prices that are observable for the asset or liability; inputs that are derived principally from or corroborated by observable market data by correlation or other means. | |||||||
Level 3 - Inputs to the valuation methodology are unobservable and significant to the fair value measurement. | |||||||
Our recurring fair value measures relate to marketable securities and derivative instruments. Our non-financial assets and non-financial liabilities subject to non-recurring measures include goodwill and intangible assets and are Level 3 measurements. | |||||||
Treasury Stock | |||||||
Treasury stock is accounted for using the cost method. | |||||||
Cash and Cash Equivalents | |||||||
All highly liquid investments with maturities of three months or less at the date of purchase are considered to be cash equivalents. | |||||||
Use of Estimates | |||||||
Preparing financial statements in conformity with generally accepted accounting principles (“GAAP”) requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities as of the dates presented and the reported amounts of revenues and expenses during the periods presented. Significant estimates inherent in the preparation of the accompanying Consolidated Financial Statements include estimates of film ultimate revenues, product returns, allowance for doubtful accounts, potential outcome of uncertain tax positions, fair value of acquired assets and liabilities, fair value of equity-based compensation and pension benefit assumptions. Estimates are based on past experience and other considerations reasonable under the circumstances. Actual results may differ from these estimates. | |||||||
Year Ended | |||||||
Common Shares Outstanding and Anti-Dilutive Common Shares | September 30, | ||||||
(in millions) | 2013 | 2012 | 2011 | ||||
Weighted average common shares outstanding, basic | 486.2 | 530.7 | 587.3 | ||||
Dilutive effect of equity awards | 8.6 | 6.8 | 7 | ||||
Weighted average common shares outstanding, diluted | 494.8 | 537.5 | 594.3 | ||||
Anti-dilutive common shares | 3.2 | 12.5 | 17.8 | ||||
NOTE 3. INVESTMENTS | |||||||
We had equity method investments totaling $164 million and $197 million, as of September 30, 2013 and 2012, respectively. We hold an equity interest of approximately 50% in EPIX, a joint venture formed with Lionsgate and Metro-Goldwyn-Mayer to exhibit certain motion pictures on behalf of the equity partners' movie studios through a premium pay television channel and video-on-demand services available on multiple platforms. We also hold an equity interest of 50% in Viacom 18, a joint venture in India with Network 18 Fincap Limited. In addition, we had cost method investments totaling $61 million and $79 million as of September 30, 2013 and 2012, respectively. | |||||||
Sales of HBO Pacific Partners and LAPTV | |||||||
In the fourth quarter of 2013, we completed the sales of our 20% interest in HBO Pacific Partners, V.O.F. (“HBO Pacific Partners”) and our 22.5% interest in LAPTV, LLC (“LAPTV”), partnerships that own pay television channels under various brand names and that were accounted for under the equity method. The sales resulted in aggregate total proceeds of $124 million and a gain of $111 million. The gain is reflected in Other items, net in the Consolidated Statement of Earnings. | |||||||
Variable Interest Entities | |||||||
In the normal course of business, we enter into joint ventures or make investments with business partners that support our underlying business strategy and provide us the ability to enter new markets to expand the reach of our brands, develop new programming and/or distribute our existing content. In certain instances, an entity in which we make an investment may qualify as a VIE. In determining whether we are the primary beneficiary of a VIE, we assess whether we have the power to direct matters that most significantly impact the activities of the VIE and have the obligation to absorb losses or the right to receive benefits from the VIE that could potentially be significant to the VIE. | |||||||
Unconsolidated Variable Interest Entities | |||||||
We have a number of unconsolidated investments in which we hold a non-controlling ownership interest, including but not limited to EPIX and Viacom 18. These arrangements are typically entered into with strategic partners and generally contain the following governance provisions: (i) the funding of the venture is provided by the equity holders pro rata based on their ownership interest; (ii) the investments are initially funded to meet short-term working capital requirements with funding commitments provided by the partners to fund future operating needs; (iii) commercial arrangements between us, the venture and other related parties are negotiated between the parties and are believed to be at market rates; and (iv) voting rights are consistent with the equity holders' rights and obligations to share in the profits and losses of the variable interest entity. In connection with these investment arrangements, we do not have the power to direct matters that most significantly impact the activities of the VIE and therefore we do not qualify as the primary beneficiary. Accordingly, these investments are accounted for under the equity method of accounting and are included in Other assets – noncurrent in the Consolidated Balance Sheets. In these arrangements, our risk of loss is typically limited to our carrying value and future funding commitments. | |||||||
Our aggregate investment carrying value in unconsolidated VIEs was $148 million and $143 million as of September 30, 2013 and 2012, respectively. The impact of our unconsolidated VIEs on our Consolidated Financial Statements, including related party transactions, is further described in Note 17. | |||||||
Consolidated Variable Interest Entities | |||||||
Our Consolidated Balance Sheets include amounts related to consolidated VIEs totaling $77 million in assets and $56 million in liabilities as of September 30, 2013, and $44 million in assets and $86 million in liabilities as of September 30, 2012. We have certain rights and obligations related to our investments, including the guarantee of certain third-party bank debt. The consolidated VIEs' revenues, expenses and operating income were not significant for all periods presented. |
Property_and_Equipment
Property and Equipment | 12 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Property And Equipment Disclosure [Abstract] | ' | |||||||
Property Plant And Equipment Disclosure | ' | |||||||
NOTE 4. PROPERTY AND EQUIPMENT | ||||||||
Depreciation expense, including assets under capital leases, was $174 million in 2013, $171 million in 2012 and $189 million in 2011. Depreciation expense related to capital leases was $21 million in 2013, $25 million in 2012 and $32 million in 2011. Accumulated depreciation of capital leases was $148 million and $134 million at September 30, 2013 and 2012, respectively. | ||||||||
Estimated | ||||||||
Property and Equipment, Net | September 30, | Life | ||||||
(in millions) | 2013 | 2012 | (in years) | |||||
Land | $ | 248 | $ | 250 | - | |||
Buildings | 431 | 398 | up to 40 | |||||
Capital leases | 277 | 286 | up to 15 | |||||
Equipment and other | 1,773 | 1,715 | up to 15 | |||||
Property and equipment | 2,729 | 2,649 | ||||||
Less: Accumulated depreciation | -1,689 | -1,581 | ||||||
Property and equipment, net | $ | 1,040 | $ | 1,068 | ||||
Inventory
Inventory | 12 Months Ended | ||||||
Sep. 30, 2013 | |||||||
Inventory Disclosure [Abstract] | ' | ||||||
Inventory | ' | ||||||
NOTE 5. INVENTORY | |||||||
We expect to amortize approximately $1.1 billion of original programming and film inventory, including released and completed, not yet released, during the fiscal year ending September 30, 2014 using the individual-film-forecast-computation method. In addition, we expect to amortize 86% of unamortized released original programming and film inventory, excluding acquired film libraries, at September 30, 2013 within the next three years. As of September 30, 2013, unamortized film libraries of $76 million remain to be amortized based on the respective film ultimates, where available, or on a straight-line basis over a remaining life of three years. | |||||||
Inventory | September 30, | ||||||
(in millions) | 2013 | 2012 | |||||
Film inventory: | |||||||
Released, net of amortization | $ | 570 | $ | 612 | |||
Completed, not yet released | 40 | 108 | |||||
In process and other | 653 | 706 | |||||
Total film inventory, net of amortization | 1,263 | 1,426 | |||||
Original programming: | |||||||
Released, net of amortization | 1,343 | 1,414 | |||||
In process and other | 590 | 506 | |||||
Total original programming, net of amortization | 1,933 | 1,920 | |||||
Acquired program rights, net of amortization | 1,391 | 1,557 | |||||
Home entertainment inventory, net of allowance of $75 and $74 | 128 | 134 | |||||
Total inventory, net | 4,715 | 5,037 | |||||
Less current portion | -770 | -832 | |||||
Total inventory-noncurrent, net | $ | 3,945 | $ | 4,205 | |||
Goodwill_and_Intangibles
Goodwill and Intangibles | 12 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Goodwill And Intangibles [Abstract] | ' | |||||||||||||||
Goodwill And Intangibles | ' | |||||||||||||||
NOTE 6. GOODWILL AND INTANGIBLES | ||||||||||||||||
Goodwill | ||||||||||||||||
The following table details the change in goodwill by segment for 2013 and 2012: | ||||||||||||||||
Intangibles | ||||||||||||||||
The following table details our intangible asset balances by major asset classes: | ||||||||||||||||
Amortization expense relating to intangible assets was $63 million for 2013 and 2012 and $82 million for 2011. We expect our aggregate annual amortization expense for existing intangible assets subject to amortization at September 30, 2013 to be as follows for each of the next five fiscal years: | ||||||||||||||||
Goodwill | Media | Filmed | ||||||||||||||
(in millions) | Networks | Entertainment | Total | |||||||||||||
Balance at September 30, 2011 | $ | 9,471 | $ | 1,593 | $ | 11,064 | ||||||||||
Foreign currency translation | -19 | - | -19 | |||||||||||||
Balance at September 30, 2012 | 9,452 | 1,593 | 11,045 | |||||||||||||
Acquisitions | 54 | - | 54 | |||||||||||||
Foreign currency translation | -20 | - | -20 | |||||||||||||
Balance at September 30, 2013 | $ | 9,486 | $ | 1,593 | $ | 11,079 | ||||||||||
Intangibles | September 30, | |||||||||||||||
(in millions) | 2013 | 2012 | ||||||||||||||
Finite-lived intangible assets: | ||||||||||||||||
Subscriber agreements | $ | 58 | $ | 65 | ||||||||||||
Film distribution and fulfillment services | 280 | 280 | ||||||||||||||
Other intangible assets | 438 | 413 | ||||||||||||||
Total finite-lived intangible assets | 776 | 758 | ||||||||||||||
Accumulated amortization on finite-lived intangible assets: | ||||||||||||||||
Subscriber agreements | -35 | -33 | ||||||||||||||
Film distribution and fulfillment services | -268 | -233 | ||||||||||||||
Other intangible assets | -249 | -219 | ||||||||||||||
Total accumulated amortization on finite-lived intangible assets | -552 | -485 | ||||||||||||||
Finite-lived intangible assets, net | $ | 224 | $ | 273 | ||||||||||||
Trademarks and other, indefinite-lived | 55 | 55 | ||||||||||||||
Total intangibles, net | $ | 279 | $ | 328 | ||||||||||||
Amortization of Intangibles | ||||||||||||||||
(in millions) | 2014 | 2015 | 2016 | 2017 | 2018 | |||||||||||
Amortization expense | $ | 36 | $ | 23 | $ | 25 | $ | 25 | $ | 19 |
Debt
Debt | 12 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Debt Disclosure [Abstract] | ' | |||||||||||||
Debt | ' | |||||||||||||
NOTE 7. DEBT | ||||||||||||||
Our total debt consists of the following: | ||||||||||||||
Senior Notes and Debentures | ||||||||||||||
In November 2012, we issued 4.375% Senior Debentures due March 2043 (the “2043 Debentures”) with an aggregate principal amount of $250 million at a price equal to 97.755% of the principal amount. The proceeds, net of discount and other issuance fees and expenses, were $242 million. | ||||||||||||||
In December 2012, we issued an additional $1.196 billion of 2043 Debentures in exchange for a portion of our outstanding 6.875% Senior Debentures due 2036 and 6.750% Senior Debentures due 2037 totaling $844 million. There was no gain or loss recognized as a result of the exchange. | ||||||||||||||
In March 2013, we issued 3.250% Senior Notes due March 2023 with an aggregate principal amount of $300 million at a price equal to 99.148% of the principal amount, and 4.875% Senior Debentures due June 2043 with an aggregate principal amount of $250 million at a price equal to 99.474% of the principal amount. The proceeds, net of discount and other issuance fees and expenses, were $542 million. | ||||||||||||||
In August 2013, we issued 2.500% Senior Notes due September 2018 with an aggregate principal amount of $500 million at a price equal to 99.423% of the principal amount, 4.250% Senior Notes due September 2023 with an aggregate principal amount of $1.250 billion at a price equal to 98.968% of the principal amount and 5.850% Senior Debentures due September 2043 with an aggregate principal amount of $1.250 billion at a price equal to 99.353% of the principal amount. The proceeds, net of discount and other issuance fees and expenses, were $2.948 billion. | ||||||||||||||
Our outstanding senior notes and debentures provide for certain covenant packages typical for an investment grade company. There is one acceleration trigger for certain of the senior notes and debentures in the event of a change in control under certain specified circumstances coupled with ratings downgrades due to the change in control. At September 30, 2013 and 2012, the total unamortized net discount related to the fixed rate senior notes and debentures was $425 million and $49 million, respectively. The increase reflects the impact of the issuances of senior notes and debentures during the year. | ||||||||||||||
The fair value of our senior notes and debentures was approximately $12.312 billion and $9.262 billion as of September 30, 2013 and 2012, respectively. The valuation of our publicly traded debt is based on quoted prices in active markets. | ||||||||||||||
Credit Facility | ||||||||||||||
In November 2012, we amended our revolving credit agreement, originally dated as of October 8, 2010, to, among other things, increase the amount of the credit facility from $2.1 billion to $2.5 billion and extend the maturity date from December 2015 to November 2017. The credit facility is used for general corporate purposes and to support commercial paper outstanding, if any. The borrowing rate under the credit facility is LIBOR plus a margin ranging from 0.75% to 1.75% based on our current public debt rating. The credit facility has one principal financial covenant that requires our interest coverage for the most recent four consecutive fiscal quarters to be at least 3.0x, which we met at September 30, 2013. We also terminated two 364-day credit facilities with an aggregate amount of $600 million in November 2012. | ||||||||||||||
At September 30, 2013 and 2012, there were no amounts outstanding under our credit facility. | ||||||||||||||
Commercial Paper | ||||||||||||||
At September 30, 2013 and 2012, there was no commercial paper outstanding. | ||||||||||||||
Current Portion of Debt | ||||||||||||||
Amounts classified in the current portion of debt consist of the portion of capital leases payable in the next twelve months. The Senior Notes due in September 2014 are classified as long-term debt as we have the intent as well as the ability, through utilization of our $2.5 billion revolving credit facility due November 2017, to refinance this debt. | ||||||||||||||
Scheduled Debt Maturities | ||||||||||||||
Our scheduled maturities of debt at face value for each of the next five fiscal years, excluding capital leases, outstanding at September 30, 2013 are as follows: | ||||||||||||||
Debt | September 30, | |||||||||||||
(in millions) | 2013 | 2012 | ||||||||||||
Senior Notes and Debentures: | ||||||||||||||
Senior notes due September 2014, 4.375% | $ | 599 | $ | 598 | ||||||||||
Senior notes due February 2015, 1.250% | 600 | 599 | ||||||||||||
Senior notes due September 2015, 4.250% | 250 | 250 | ||||||||||||
Senior notes due April 2016, 6.250% | 917 | 916 | ||||||||||||
Senior notes due December 2016, 2.500% | 398 | 398 | ||||||||||||
Senior notes due April 2017, 3.500% | 497 | 497 | ||||||||||||
Senior notes due October 2017, 6.125% | 499 | 498 | ||||||||||||
Senior notes due September 2018, 2.500% | 497 | - | ||||||||||||
Senior notes due September 2019, 5.625% | 552 | 553 | ||||||||||||
Senior notes due March 2021, 4.500% | 494 | 493 | ||||||||||||
Senior notes due December 2021, 3.875% | 592 | 591 | ||||||||||||
Senior notes due June 2022, 3.125% | 296 | 296 | ||||||||||||
Senior notes due March 2023, 3.250% | 298 | - | ||||||||||||
Senior notes due September 2023, 4.250% | 1,237 | - | ||||||||||||
Senior debentures due April 2036, 6.875% | 1,072 | 1,736 | ||||||||||||
Senior debentures due October 2037, 6.750% | 76 | 249 | ||||||||||||
Senior debentures due February 2042, 4.500% | 245 | 245 | ||||||||||||
Senior debentures due March 2043, 4.375% | 1,085 | - | ||||||||||||
Senior debentures due June 2043, 4.875% | 249 | - | ||||||||||||
Senior debentures due September 2043, 5.850% | 1,242 | - | ||||||||||||
Capital lease and other obligations | 190 | 230 | ||||||||||||
Total debt | 11,885 | 8,149 | ||||||||||||
Less current portion | -18 | -18 | ||||||||||||
Total noncurrent portion of debt | $ | 11,867 | $ | 8,131 | ||||||||||
Maturities of Debt Excluding Capital Leases | After 5 | |||||||||||||
(in millions) | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Years | ||||||||
Debt | $ | 600 | $ | 898 | $ | 918 | $ | 900 | $ | 1,000 | $ | 7,852 | ||
Pension_and_Other_Postretireme
Pension and Other Postretirement Benefits | 12 Months Ended | ||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||
Pension Disclosure [Abstract] | ' | ||||||||||||||||||
Pension and Other Postretirement Benefits | ' | ||||||||||||||||||
NOTE 8. PENSION AND OTHER POSTRETIREMENT BENEFITS | |||||||||||||||||||
Our defined benefit pension plans principally consist of both funded and unfunded noncontributory plans covering the majority of domestic employees and retirees. The funded plan provides a defined benefit based on a percentage of eligible compensation for periods of service. In November 2012, we amended the funded defined benefit pension plan to freeze future benefits effective December 31, 2012. The unfunded pension plans are also currently frozen to future benefit accruals. | |||||||||||||||||||
The following tables summarize changes in the benefit obligation, the plan assets and the funded status of our pension plans utilizing a measurement date as of September 30, 2013 and 2012, respectively: | |||||||||||||||||||
Accumulated Benefit Obligation | |||||||||||||||||||
The accumulated benefit obligation differs from the projected benefit obligation in that it includes no assumption about future compensation levels. Since our plans are frozen, the projected benefit obligation equals the accumulated benefit obligation. Included in the change in benefit obligation table above are the following funded and unfunded plans with an accumulated benefit obligation equal to or in excess of plan assets at the end of the fiscal year. | |||||||||||||||||||
Net Periodic Benefit Costs | |||||||||||||||||||
Our net periodic benefit cost under Viacom's pension plans consists of the following: | |||||||||||||||||||
The items reflected in Accumulated other comprehensive loss in the Consolidated Balance Sheets and not yet recognized as a component of net periodic benefit cost are: | |||||||||||||||||||
The amounts recognized in other comprehensive income during the year are: | |||||||||||||||||||
The amounts in Accumulated other comprehensive income (loss) in the Consolidated Balance Sheets that are expected to be recognized as components of net periodic benefit cost during the fiscal year ended September 30, 2013 are as follows: | |||||||||||||||||||
Two key assumptions used in accounting for pension liabilities and expenses are the discount rate and expected rate of return on plan assets. The discount rate reflects the estimated rate at which the pension benefit obligations could effectively be settled. We used investment grade corporate bond yields to support our discount rate assumption. The expected long-term returns on plan assets were based upon the target asset allocation and return estimates for equity and debt securities. The expected rate of return for equities was based upon the risk-free rate plus a premium for equity securities. The expected return on debt securities was based upon an analysis of current and historical yields on portfolios of similar quality and duration. A decrease in the discount rate or a decrease in the expected rate of return on plan assets would typically increase pension expense. The estimated impact of a 25 basis point change in the discount rate would be a change of approximately $1 million on pension expense for the year ended September 30, 2013 and would change the accumulated benefit obligation by approximately $30 million. The estimated impact of a 25 basis point change in the expected rate of return on plan assets would be a change of approximately $1 million on pension expense for the year ended September 30, 2013. | |||||||||||||||||||
Investment Policies and Strategies | |||||||||||||||||||
The Viacom Investments Committee is responsible for managing the investment of assets under the funded pension plan in a prudent manner with regard to preserving principal while providing reasonable returns. The Viacom Investments Committee has established an investment policy through careful study of the returns and risks associated with alternative investment strategies in relation to the current and projected liabilities of the plan, after consulting with an outside investment manager as it deems appropriate. The investment manager's role is to provide guidance to the Viacom Investments Committee on matters pertaining to the investment of plan assets including investment policy, investment selection, monitoring the plan's performance and compliance with the plan's investment policies. | |||||||||||||||||||
The investment policy establishes target asset allocations based upon an analysis of the timing and amount of projected benefit payments, the expected returns and risk of the asset classes and the correlation of those returns. Our practice is to review asset allocations regularly with our investment managers and rebalance as necessary. The range of target asset allocations under our investment policy are 55-75% domestic and non-U.S. equity securities, 25-40% domestic and non-U.S. debt securities and 0-10% in cash and other instruments. | |||||||||||||||||||
The investment manager implements the investment policy through investments in mutual funds and other pooled asset portfolios. Investments will be diversified within asset classes with the intent to minimize the risk of large losses to the plan. The portfolio includes mutual funds that are managed in accordance with the diversification and industry concentration restrictions set forth in the Investment Company Act of 1940. | |||||||||||||||||||
The percentage of asset allocations of our funded pension plan at September 30, 2013 and 2012, by asset category were as follows: | |||||||||||||||||||
Viacom Class B common stock represents approximately 3% and 2% of the plan assets fair values at September 30, 2013 and 2012, respectively. | |||||||||||||||||||
Fair Value Measurement of Plan Assets | |||||||||||||||||||
Corporate common stocks are reported at fair value based on quoted market prices on national securities exchanges. Investments in registered investment companies (mutual funds) are stated at the respective funds' net asset value, which is determined based on market values at the closing price on the last business day of the year. | |||||||||||||||||||
The following table sets forth the plan's assets at fair value as of September 30, 2013 and 2012. The fair value of the plan's assets are measured using the quoted prices in the active markets for identical assets, which represents Level 1 within the hierarchy set forth in the accounting guidance for fair value measurements. | |||||||||||||||||||
Future Benefit Payments and Contributions | |||||||||||||||||||
The estimated future benefit payments for the next ten fiscal years are as follows: | |||||||||||||||||||
We expect to make contributions of approximately $20 million in fiscal 2014 to our funded pension plan. | |||||||||||||||||||
Postretirement Health Care and Life Insurance Plans | |||||||||||||||||||
Eligible employees participate in Viacom-sponsored health and welfare plans that provide certain postretirement health care and life insurance benefits to retired employees and their covered dependents. Most of the health and welfare plans are contributory and contain cost-sharing features such as deductibles and coinsurance which are adjusted annually. Claims are paid either through certain trusts funded by Viacom or by our own funds. The amounts related to these plans were not material for all periods presented. | |||||||||||||||||||
401(k) Plans | |||||||||||||||||||
Viacom has defined contribution (401(k)) plans for the benefit of substantially all our employees meeting certain eligibility requirements. Our costs recognized for such plans were $42 million in 2013, $23 million in 2012 and $21 million in 2011. During the year, we increased the employer matching contribution and introduced a discretionary profit sharing contribution. | |||||||||||||||||||
Multiemployer Benefit Plans | |||||||||||||||||||
We contribute to various multiemployer pension plans under the terms of collective bargaining agreements that cover its union-represented employees. The risks of participating in these multiemployer plans are different from single-employer plans such that (i) contributions made by us to these plans may be used to provide benefits to employees of other participating employers; (ii) if a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers; and (iii) if we choose to stop participating in some of our multiemployer plans, we may be required to pay those plans an amount based on the underfunded status of the plan, referred to as a withdrawal liability. | |||||||||||||||||||
While no multiemployer pension plan that we contributed to is considered individually significant to us, we were listed on two Form 5500s as providing more than 5% of total contributions to each plan based on current information available. The most recent filed zone status (which denotes the financial health of a plan) under the Pension Protection Act of 2006 for these two plans is green, indicating that the plans are at least 80% funded. Total contributions that we made to multiemployer pension plans were $43 million in 2013, $42 million in 2012 and $34 million in 2011. | |||||||||||||||||||
We also contribute to various other multiemployer benefit plans that provide health and welfare benefits to active and retired participants. Total contributions that we made to these non-pension multiemployer benefit plans were $69 million in 2013, $70 million in 2012 and $78 million in 2011. | |||||||||||||||||||
Year Ended | |||||||||||||||||||
Change in Benefit Obligation | September 30, | ||||||||||||||||||
(in millions) | 2013 | 2012 | |||||||||||||||||
Benefit obligation, beginning of period | $ | 1,139 | $ | 920 | |||||||||||||||
Service cost | 8 | 32 | |||||||||||||||||
Interest cost | 43 | 47 | |||||||||||||||||
Actuarial (gain) / loss | -203 | 180 | |||||||||||||||||
Curtailment gain | -65 | - | |||||||||||||||||
Benefits paid | -29 | -40 | |||||||||||||||||
Benefit obligation, end of period | $ | 893 | $ | 1,139 | |||||||||||||||
Year Ended | |||||||||||||||||||
Change in Plan Assets | September 30, | ||||||||||||||||||
(in millions) | 2013 | 2012 | |||||||||||||||||
Fair value of plan assets, beginning of period | $ | 576 | $ | 479 | |||||||||||||||
Actual return on plan assets | 85 | 103 | |||||||||||||||||
Employer contributions | 6 | 34 | |||||||||||||||||
Benefits paid | -29 | -40 | |||||||||||||||||
Fair value of plan assets, end of period | $ | 638 | $ | 576 | |||||||||||||||
Funded status | September 30, | ||||||||||||||||||
(in millions) | 2013 | 2012 | |||||||||||||||||
Funded status* | $ | -255 | $ | -563 | |||||||||||||||
* These unfunded amounts are included in Other liabilities – noncurrent in the Consolidated Balance Sheets. | |||||||||||||||||||
Funded Plans | Unfunded Plans | Total Plans | |||||||||||||||||
Accumulated Benefit Obligation | September 30, | September 30, | September 30, | ||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Accumulated benefit obligation | $ | 641 | $ | 787 | $ | 252 | $ | 291 | $ | 893 | $ | 1,078 | |||||||
Projected benefit obligation | 641 | 848 | 252 | 291 | 893 | 1,139 | |||||||||||||
Fair value of plan assets | 638 | 576 | - | - | 638 | 576 | |||||||||||||
Funded Status | $ | -3 | $ | -272 | $ | -252 | $ | -291 | $ | -255 | $ | -563 | |||||||
Year Ended | |||||||||||||||||||
Net Periodic Benefit Costs | September 30, | ||||||||||||||||||
(in millions) | 2013 | 2012 | 2011 | ||||||||||||||||
Service cost | $ | 8 | $ | 32 | $ | 29 | |||||||||||||
Interest cost | 43 | 47 | 44 | ||||||||||||||||
Expected return on plan assets | -45 | -37 | -39 | ||||||||||||||||
Recognized actuarial loss | 9 | 19 | 15 | ||||||||||||||||
Prior service cost | 1 | - | - | ||||||||||||||||
Net periodic benefit costs | $ | 16 | $ | 61 | $ | 49 | |||||||||||||
Year Ended | |||||||||||||||||||
Unrecognized Benefit Cost | September 30, | ||||||||||||||||||
(in millions) | 2013 | 2012 | |||||||||||||||||
Unrecognized actuarial loss | $ | 110 | $ | 427 | |||||||||||||||
Unrecognized prior service cost | - | 1 | |||||||||||||||||
Total* | $ | 110 | $ | 428 | |||||||||||||||
*The amount expected to be recognized in net periodic benefit cost in 2014 is immaterial. | |||||||||||||||||||
Other Comprehensive Income | Year Ended | ||||||||||||||||||
(in millions) | 30-Sep-13 | ||||||||||||||||||
Net actuarial gain | $ | -308 | |||||||||||||||||
Recognized actuarial loss | -9 | ||||||||||||||||||
Prior service cost | -1 | ||||||||||||||||||
Total pretax gain | $ | -318 | |||||||||||||||||
Year Ended | |||||||||||||||||||
September 30, | |||||||||||||||||||
Key Assumptions | 2013 | 2012 | |||||||||||||||||
Weighted-average assumptions - benefit obligations | |||||||||||||||||||
Discount rate | 5.25 | % | 4.06 | % | |||||||||||||||
Rate of compensation increase* | % | 4 | % | ||||||||||||||||
Weighted-average assumptions - net periodic costs | |||||||||||||||||||
Discount rate | 3.91 | % | 5.3 | % | |||||||||||||||
Expected long-term return on plan assets | 8 | % | 8 | % | |||||||||||||||
Rate of compensation increase | 4 | % | 4 | % | |||||||||||||||
* The rate of increase in compensation level assumption was not applicable in 2013 due to the freeze of the pension plans. | |||||||||||||||||||
September 30, | |||||||||||||||||||
Asset Allocations of Funded Pension Plan | 2013 | 2012 | |||||||||||||||||
Equity securities | 71 | % | 69 | % | |||||||||||||||
Debt securities | 29 | 31 | |||||||||||||||||
Total | 100 | % | 100 | % | |||||||||||||||
Fair Value of Plan Assets | September 30, | ||||||||||||||||||
(in millions) | 2013 | 2012 | |||||||||||||||||
Equity Securities | |||||||||||||||||||
Viacom B common stock | $ | 22 | $ | 14 | |||||||||||||||
U.S. large cap | 201 | 185 | |||||||||||||||||
U.S. small / mid cap | 80 | 67 | |||||||||||||||||
World ex-U.S. | 148 | 130 | |||||||||||||||||
Debt Securities | |||||||||||||||||||
Emerging markets | 26 | 28 | |||||||||||||||||
High yield | 52 | 51 | |||||||||||||||||
Core fixed income | 109 | - | |||||||||||||||||
Long duration | - | 101 | |||||||||||||||||
Total | $ | 638 | $ | 576 | |||||||||||||||
Future Benefit Payments | |||||||||||||||||||
(in millions) | 2014 | 2015 | 2016 | 2017 | 2018 | 2019-2023 | |||||||||||||
Pension benefits | $34 | $36 | $38 | $41 | $44 | $253 |
EquityBased_Compensation
Equity-Based Compensation | 12 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Equity Based Compensation [Abstract] | ' | |||||||||||||||
Equity Based Compensation | ' | |||||||||||||||
NOTE 9. EQUITY-BASED COMPENSATION | ||||||||||||||||
Our 2006 Long-Term Management Incentive Plan, as amended and restated effective January 1, 2011 (the “LTMIP”), provides for various types of equity awards, including stock options, stock appreciation rights, restricted shares, restricted share units (“RSUs”), unrestricted shares of Class B common stock, phantom shares, dividend equivalents, performance share units (“PSUs”), performance-based RSUs (“PRSUs”) and other awards, or a combination of any of the above. In addition, our equity plans for outside directors were amended in 2013 to provide for an automatic grant each year of only RSUs, rather than a combination of RSUs and stock options. We have primarily granted stock options and RSUs to employees. Certain senior executives have also received PSUs and PRSUs. | ||||||||||||||||
Stock options generally vest ratably over a four-year period from the date of grant and expire eight to ten years after the date of grant. Employee RSUs typically vest ratably over a four-year period from the date of the grant. Director RSUs typically vest one year from the date of grant. The target number of PSUs granted to an executive representing the right to receive a corresponding number of shares of Class B common stock, subject to adjustment depending on the total shareholder return (“TSR”) of our Class B common stock measured against the TSR of the common stock of the companies comprising the S&P 500 Index at the start of the measurement period. The measurement period is at least three years. The number of shares of Class B common stock an executive is entitled to receive at the end of the applicable measurement period ranges from 0% to 300% of the target PSU award. If Viacom's percentile rank of TSR relative to the TSR for the companies in the S&P 500 Index is less than the 25th percentile, the target grant is forfeited unless we have achieved a specified level of earnings per share set in advance for the measurement period, in which case the executive would receive a percentage of the target award. The PRSUs vest in four equal annual installments and will deliver, at the time of vesting, 75% to 125% of the target number of shares of Class B common stock underlying the PRSUs, depending on our achievement of certain financial targets over specified periods. RSUs, PSUs and PRSUs accrue dividends each time we declare a quarterly cash dividend while the award is outstanding, which are paid upon vesting on the number of shares delivered and are forfeited if the award does not vest. | ||||||||||||||||
Upon the exercise of a stock option award or the vesting of RSUs, PSUs or PRSUs, shares of Class B common stock are issued from authorized but unissued shares or from treasury stock. At September 30, 2013, we had 336.3 million shares in treasury. The aggregate number of equity awards authorized and available under the LTMIP for future grants as of September 30, 2013 was approximately 25.7 million, assuming that outstanding PSU and PRSU awards are paid at target except for those awards for which the measurement period has been completed. | ||||||||||||||||
Presented below is a summary of the compensation cost we recognized in the accompanying Consolidated Statements of Earnings: | ||||||||||||||||
Stock Options | ||||||||||||||||
The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model. The determination of volatility is principally based upon implied volatilities from traded options. The expected term, representing the period of time that options granted are expected to be outstanding, is estimated using a lattice-based model incorporating historical post vest exercise and employee termination behavior. The risk-free rate assumed in valuing the options is based on the U.S. Treasury Yield curve in effect applied against the expected term of the option at the time of the grant. The expected dividend yield is estimated by dividing the expected annual dividend by the market price of our common stock at the date of grant. Below are the weighted average fair value of awards granted in the periods presented and the weighted average of the applicable assumptions used to value stock options at grant date. | ||||||||||||||||
The following table summarizes information about our stock option transactions: | ||||||||||||||||
The weighted average remaining contractual life of stock options outstanding and exercisable at September 30, 2013 was 5 years and 3 years, respectively. The aggregate intrinsic value of stock options outstanding and exercisable at September 30, 2013 was $873 million and $601 million, respectively. | ||||||||||||||||
The following table summarizes information relating to stock option exercises during the periods presented: | ||||||||||||||||
Total unrecognized compensation cost related to unvested stock option awards at September 30, 2013 was approximately $72 million and is expected to be recognized on a straight-line basis over a weighted-average period of 3 years. | ||||||||||||||||
Other Equity-Based Awards | ||||||||||||||||
The grant date fair value for RSUs and PRSUs is based on our stock price on the date of the grant. The grant date fair value for the PSUs subject to the market and performance condition indicated earlier in this note is computed using a Monte Carlo model to estimate the total return ranking of Viacom among the S&P 500 Index companies on the date of grant over the measurement periods. Compensation cost assumes all performance goals will be met and is being recognized as the requisite service period is fulfilled. | ||||||||||||||||
The following table summarizes activity relating to our RSUs, PSUs and PRSUs: | ||||||||||||||||
The total weighted average remaining contractual life and aggregate intrinsic value of unvested RSUs, PSUs and PRSUs at September 30, 2013 was 1 year and $360 million, respectively. | ||||||||||||||||
The fair value of RSUs, PSUs and PRSUs vested was $175 million in 2013, $187 million in 2012 and $96 million in 2011. Total unrecognized compensation cost related to these awards at September 30, 2013 was approximately $151 million and is expected to be recognized over a weighted-average period of 2 years. | ||||||||||||||||
Year Ended | ||||||||||||||||
Equity-Based Compensation Expense | September 30, | |||||||||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||||||||
Recognized in earnings: | ||||||||||||||||
Stock options | $ | 42 | $ | 41 | $ | 45 | ||||||||||
RSUs, PSUs and PRSUs | 86 | 81 | 83 | |||||||||||||
Total compensation cost in earnings | $ | 128 | $ | 122 | $ | 128 | ||||||||||
Tax benefit recognized | $ | 41 | $ | 39 | $ | 42 | ||||||||||
Capitalized equity-based compensation expense | $ | 6 | $ | 10 | $ | 6 | ||||||||||
Year Ended | ||||||||||||||||
September 30, | ||||||||||||||||
Key Assumptions | 2013 | 2012 | 2011 | |||||||||||||
Weighted average fair value of grants | $ | 13.02 | $ | 10.17 | $ | 11.01 | ||||||||||
Weighted average assumptions: | ||||||||||||||||
Expected stock price volatility | 25.7 | % | 30.7 | % | 28.3 | % | ||||||||||
Expected term of options (in years) | 4.7 | 5 | 5.3 | |||||||||||||
Risk-free interest rate | 0.8 | % | 0.8 | % | 1.8 | % | ||||||||||
Expected dividend yield | 1.7 | % | 2.3 | % | 2 | |||||||||||
Year Ended | Year Ended | Year Ended | ||||||||||||||
30-Sep-13 | 30-Sep-12 | 30-Sep-11 | ||||||||||||||
Weighted | Weighted | Weighted | ||||||||||||||
average | average | average | ||||||||||||||
Stock Options | exercise | exercise | exercise | |||||||||||||
(number of options in thousands) | Options | price | Options | price | Options | price | ||||||||||
Outstanding at the beginning of the period | 29,269.50 | $ | 40.22 | 35,375.70 | $ | 40.91 | 38,140.60 | $ | 41.13 | |||||||
Granted | 2,363.30 | 69.56 | 3,110.00 | 47.37 | 4,028.00 | 49.17 | ||||||||||
Exercised | -9,792.10 | 41.23 | -6,398.80 | 41.94 | -4,288.50 | 38.23 | ||||||||||
Forfeited or expired | -398.8 | 47.61 | -2,817.40 | 52.94 | -2,504.40 | 62.1 | ||||||||||
Outstanding at the end of the period | 21,441.90 | $ | 42.85 | 29,269.50 | $ | 40.22 | 35,375.70 | $ | 40.91 | |||||||
Exercisable at the end of the period | 13,024.60 | $ | 37.43 | 19,004.60 | $ | 39.32 | 23,866.90 | $ | 42.3 | |||||||
Year Ended | ||||||||||||||||
Stock Option Exercises | September 30, | |||||||||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||||||||
Proceeds from stock option exercises | $ | 403 | $ | 268 | $ | 164 | ||||||||||
Intrinsic value | $ | 270 | $ | 51 | $ | 41 | ||||||||||
Tax benefit - excess/ (shortfall) | $ | 77 | $ | - | $ | -1 | ||||||||||
Year Ended | Year Ended | Year Ended | ||||||||||||||
30-Sep-13 | 30-Sep-12 | 30-Sep-11 | ||||||||||||||
Weighted | Weighted | Weighted | ||||||||||||||
average | average | average | ||||||||||||||
Number | grant | Number | grant | Number | grant | |||||||||||
RSUs, PSUs and PRSUs | of | date fair | of | date fair | of | date fair | ||||||||||
(number of shares in thousands) | shares | value | shares | value | shares | value | ||||||||||
Unvested at the beginning of the period | 5,721.50 | $ | 44.22 | 7,200.70 | $ | 38.58 | 7,729.20 | $ | 35.03 | |||||||
Granted* | 1,750.20 | 62.51 | 2,846.50 | 45.02 | 1,979.40 | 53.43 | ||||||||||
Vested | -3,005.20 | 41.49 | -4,028.40 | 35.27 | -2,076.10 | 40.97 | ||||||||||
Forfeited | -155.1 | 44.33 | -297.3 | 36.62 | -431.8 | 31.63 | ||||||||||
Unvested at the end of the period | 4,311.40 | $ | 53.54 | 5,721.50 | $ | 44.22 | 7,200.70 | $ | 38.58 | |||||||
*Grant activity includes 0.2 million, 0.3 million and 0.5 million of performance-based share units at target for 2013, 2012 and 2011, respectively. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Financial Instruments Disclosure [Abstract] | ' | ||||||||||||
Financial Instruments | ' | ||||||||||||
NOTE 10. FAIR VALUE MEASUREMENTS | |||||||||||||
Assets/Liabilities Measured and Recorded at Fair Value on a Recurring Basis | |||||||||||||
The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2013 and 2012: | |||||||||||||
The fair value for marketable securities is determined utilizing a market approach based on quoted market prices in active markets at period end. These investments are included within Prepaid and other assets in the Consolidated Balance Sheets. | |||||||||||||
The fair value for derivatives is determined utilizing a market-based approach. We use derivative financial instruments to modify our exposure to market risks from changes in foreign exchange rates and interest rates. We conduct business in various countries outside the United States, resulting in exposure to movements in foreign exchange rates when translating from the foreign local currency to the U.S. Dollar. We use foreign currency forward contracts to economically hedge anticipated cash flows and foreign currency balances in such currencies as the British Pound, the Australian Dollar, the Euro, the Japanese Yen, the Brazilian Real, the Mexican Peso and the Canadian Dollar. We also enter into forward contracts to hedge future production costs or programming obligations. The change in fair value of non-designated foreign exchange contracts is included in current period earnings as part of Other items, net in the Consolidated Statements of Earnings. We manage the use of foreign exchange derivatives centrally. | |||||||||||||
At September 30, 2013 and 2012, the notional value of all foreign exchange contracts was $196 million and $176 million, respectively. In 2013, $178 million related to our foreign currency balances and $18 million related to future production costs and programming obligations. In 2012, $120 million related to our foreign currency balances and $56 million related to future production costs and programming obligations. The net fair value of our foreign exchange contracts was a liability of $2 million as of September 30, 2013. | |||||||||||||
A portion of our interest expense is exposed to movements in short-term rates. Also, interest expense for future long-term debt issues is exposed to movements in long-term rates. Interest rate hedges may be used to modify both of these exposures at our discretion. There were no interest rate hedges outstanding at September 30, 2013 and 2012. | |||||||||||||
Assets Measured and Recorded at Fair Value on a Non-Recurring Basis | |||||||||||||
Certain financial assets, such as investments, are recorded at fair value only if an impairment charge is recognized. In 2013, we recognized an impairment loss to write-down a cost method investment to its fair value. The impairment charge is included in Other items, net, in the Consolidated Statement of Earnings. The fair value of the investment (Level 3) was based on a discounted cash flow analysis. | |||||||||||||
Quoted Prices In | Significant Other | Significant | |||||||||||
Active Markets for | Observable | Unobservable | |||||||||||
Financial Asset (Liability) | Identical Assets | Inputs | Inputs | ||||||||||
(in millions) | Total | Level 1 | Level 2 | Level 3 | |||||||||
30-Sep-13 | |||||||||||||
Marketable securities | $ | 89 | $ | 89 | $ | - | $ | - | |||||
Derivatives | -2 | - | -2 | - | |||||||||
Total | $ | 87 | $ | 89 | $ | -2 | $ | - | |||||
30-Sep-12 | |||||||||||||
Marketable securities | $ | 84 | $ | 84 | $ | - | $ | - | |||||
Derivatives | -1 | - | -1 | - | |||||||||
Total | $ | 83 | $ | 84 | $ | -1 | $ | - | |||||
Quoted Prices In | Significant Other | Significant | |||||||||||
Active Markets for | Observable | Unobservable | |||||||||||
Financial Asset (Liability) | Identical Assets | Inputs | Inputs | ||||||||||
(in millions) | Total | Level 1 | Level 2 | Level 3 | |||||||||
30-Sep-13 | |||||||||||||
Marketable securities | $ | 89 | $ | 89 | $ | - | $ | - | |||||
Derivatives | -2 | - | -2 | - | |||||||||
Total | $ | 87 | $ | 89 | $ | -2 | $ | - | |||||
30-Sep-12 | |||||||||||||
Marketable securities | $ | 84 | $ | 84 | $ | - | $ | - | |||||
Derivatives | -1 | - | -1 | - | |||||||||
Total | $ | 83 | $ | 84 | $ | -1 | $ | - | |||||
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||||
Sep. 30, 2013 | |||||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||||
Commitments and Contingencies Disclosure [Text Block] | ' | ||||||
NOTE 11. COMMITMENTS AND CONTINGENCIES | |||||||
Commitments | |||||||
Our commitments primarily consist of programming and talent commitments, operating and capital lease arrangements, and purchase obligations for goods and services. These arrangements result from our normal course of business and represent obligations that may be payable over several years. Additionally, we are subject to a redeemable put option, payable in a foreign currency, with respect to an international subsidiary. The put option expires in January 2016 and is classified as Redeemable noncontrolling interest in the Consolidated Balance Sheets. See Note 15 for additional information related to the redeemable noncontrolling interest. | |||||||
Our programming and talent commitments that are not recorded on the balance sheet, which aggregated to approximately $1.456 billion as of September 30, 2013, included $1.162 billion relating to media networks programming and $294 million for talent contracts. At September 30, 2013, we have recorded, on the balance sheet, programming commitments of $1.103 billion. Amounts expected to be paid over the next five fiscal years, beginning with fiscal year 2014, are as follows: $576 million, $251 million, $157 million, $80 million and $30 million. | |||||||
We have long-term noncancelable operating and capital lease commitments for office space, equipment, transponders, studio facilities and vehicles. | |||||||
At September 30, 2013, minimum rental payments under noncancelable leases by fiscal year are as follows: | |||||||
Future minimum operating lease payments have been reduced by future minimum sublease income of $35 million. Rent expense amounted to $205 million in 2013, $201 million in 2012 and $203 million in 2011. | |||||||
We also have purchase obligations which include agreements to purchase goods or services in the future that totaled $657 million as of September 30, 2013. | |||||||
Contingencies | |||||||
Guarantees | |||||||
In the course of our business, we both provide and receive the benefit of indemnities that are intended to allocate certain risks associated with business transactions. | |||||||
Leases | |||||||
We have certain indemnification obligations with respect to leases primarily associated with the previously discontinued operations of Famous Players Inc. (“Famous Players”). In addition, we have certain indemnities provided by the acquirer of Famous Players. These lease commitments amounted to approximately $485 million as of September 30, 2013. The amount of lease commitments varies over time depending on expiration or termination of individual underlying leases, or of the related indemnification obligation, and foreign exchange rates, among other things. We may also have exposure for certain other expenses related to the leases, such as property taxes and common area maintenance. We have recorded a liability of $195 million with respect to such obligations as of September 30, 2013. We believe our accrual is sufficient to meet any future obligations based on our consideration of available financial information, the lessees' historical performance in meeting their lease obligations and the underlying economic factors impacting the lessees' business models. | |||||||
Other | |||||||
We have indemnification obligations with respect to letters of credit and surety bonds primarily used as security against non-performance in the normal course of business. The outstanding letters of credit and surety bonds at September 30, 2013 were $43 million and are not recorded on our Consolidated Balance Sheet. | |||||||
We and our venture partner each have a commitment to guarantee up to approximately $70 million of bank debt of Viacom 18. There were no borrowings outstanding at September 30, 2013 subject to this guarantee. We also have a remaining equity funding commitment of $15 million as of September 30, 2013. | |||||||
Legal Matters | |||||||
Litigation is inherently uncertain and always difficult to predict. However, based on our understanding and evaluation of the relevant facts and circumstances, we believe that the legal matters described below and other litigation to which we are a party are not likely, in the aggregate, to have a material adverse effect on our results of continuing operations, financial position or operating cash flows. | |||||||
In March 2007, we filed a complaint in the United States District Court for the Southern District of New York against Google Inc. (“Google”) and its wholly-owned subsidiary YouTube, alleging that Google and YouTube violated and continue to violate our copyrights. We are seeking both damages and injunctive relief. In March 2010, we and Google filed motions for summary judgment, and in June 2010, Google's motion was granted. In April 2012, the U.S. Court of Appeals for the Second Circuit vacated the District Court's decision and remanded the case to the District Court for further proceedings. In December 2012, Google renewed its motion for summary judgment. In April 2013, the District Court granted Google's renewed motion for summary judgment. We have appealed the District Court's decision back to the Second Circuit where briefing, including the submission of amicus briefs, is underway. | |||||||
Our 2006 acquisition agreement with Harmonix Music Systems, Inc. (“Harmonix”), a developer of music-based games, including the Rock Band franchise, provided that to the extent financial results exceeded specific contractual targets against a defined gross profit metric for the calendar years 2007 and 2008, former Harmonix shareholders would be eligible for incremental earn-out payments. In 2008, we paid $150 million, subject to adjustment, under this earn-out agreement. A private dispute resolution process was commenced as provided in the acquisition agreement to determine the final amount of the earn-out. In December 2011, the resolution accountants in the private dispute resolution process concluded that we owed an additional $383 million under the agreement, as compared to the additional $700 million sought by the former shareholders. In the same month, we commenced a lawsuit in the Delaware Court of Chancery to vacate the determination of the resolution accountants on the grounds that they improperly failed to consider arguments and evidence put before them, and we recorded a reserve of $383 million in the quarter ended December 31, 2011. We paid $84 million of this amount plus accrued interest of $3 million in the quarter ended June 30, 2012. In August 2012, the former shareholders' motion for summary judgment affirming the decision of the resolution accountants was granted. In September 2012, we appealed the decision of the Chancery Court to the Delaware Supreme Court. On July 16, 2013, the Delaware Supreme Court affirmed the decision of the Chancery Court, and on August 6, 2013, we paid the shareholder representative approximately $327 million, which included interest and was fully reserved, in full satisfaction of the judgment. | |||||||
In addition, in December 2010, the shareholder representative filed a lawsuit in the Delaware Court of Chancery seeking the release of approximately $13 million that was being held in escrow to secure the former shareholders' indemnification obligations to us under the acquisition agreement. In May 2011, we filed a motion to dismiss a portion of the shareholder representative's lawsuit that related to certain other claims as meritless, and in November 2011, the court dismissed those claims. In December 2012, the Delaware Chancery Court granted the shareholder representative's motion for summary judgment on our indemnification claims. On October 7, 2013, the Delaware Supreme Court affirmed the decisions of the Chancery Court. | |||||||
In February 2013, Cablevision Systems Corporation filed a lawsuit in the United States District Court for the Southern District of New York alleging that Viacom's industry standard practice of offering discounts for additional network distribution constituted a “tying” arrangement in violation of federal and New York state antitrust laws. Similar arrangements have been upheld by numerous federal and state courts, and Cablevision itself has advocated for the legality of such arrangements as a party in a recent federal case. We believe the lawsuit is without merit and filed a motion to dismiss on May 8, 2013. On July 12, 2013, Cablevision filed an amended complaint, and on August 23, Viacom once again moved to dismiss the action. Briefing on the motion is underway; in the meantime, discovery in the action has been stayed. | |||||||
In August 2012, a complaint was filed in the United States District Court for the District of Delaware by a Viacom Class B stockholder against us and each member of our Board of Directors. The complaint purported to be a derivative action alleging that, between 2008 and 2011, we violated the terms of our 2007 Senior Executive Short-Term Incentive Plan (the “2007 Plan”) by allegedly using improper subjective criteria to determine the bonuses paid to Messrs. Redstone, Dauman and Dooley in each of those years, which according to the complaint, constituted a breach of fiduciary duty by the members of the Board of Directors. The plaintiff alleged that during this period Messrs. Redstone, Dauman and Dooley were paid more than the 2007 Plan permitted and the plaintiff sought to recover the amount of the overpayment, plus interest, for the Company. The plaintiff also alleged that adoption of the Viacom 2012 Senior Executive Short-Term Incentive Plan (the “2012 Plan”) required the vote of all Viacom stockholders and not simply holders of our voting Class A common stock. Accordingly, the plaintiff sought to enjoin any overpayment under the 2012 Plan until a new vote on that plan that included Class B stockholders occurred. The District Court granted our motion to dismiss the complaint on July 16, 2013. On July 31, 2013, the plaintiff filed a notice of appeal to the United States Court of Appeals for the Third Circuit, and briefing on the appeal is now underway. | |||||||
In 2006, Paramount and DreamWorks L.L.C. (now known as DW Studios L.L.C.) entered into a Multi-Picture Investment Agreement with Melrose Investors 2 LLC (“Melrose 2”) in connection with the financing of a slate of up to thirty motion pictures distributed by Paramount. In late November 2011, the Melrose 2 investors filed a lawsuit in California state court against Paramount and DW Studios asserting a variety of claims in relation to Paramount's accounting to the investors. The investors filed an amended complaint in October 2012. In early January 2013, the parties settled the dispute and Paramount re-acquired all of the Melrose 2 investors' remaining interests in the film slate. | |||||||
Noncancelable Lease Commitments | |||||||
(in millions) | Capital | Operating | |||||
2014 | $ | 25 | $ | 193 | |||
2015 | 26 | 174 | |||||
2016 | 26 | 154 | |||||
2017 | 25 | 135 | |||||
2018 | 25 | 119 | |||||
2019 and thereafter | 43 | 937 | |||||
Total minimum payments | $ | 170 | $ | 1,712 | |||
Amounts representing interest | -27 | ||||||
Total | $ | 143 | |||||
Stockholders_Equity
Stockholders' Equity | 12 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Viacom Stockholders' equity | ' | |||||||||
Stockholders' Equity | ' | |||||||||
NOTE 12. STOCKHOLDERS' EQUITY | ||||||||||
Common Stock | ||||||||||
The Viacom Board of Directors has the power to issue shares of authorized but unissued Class A common stock and Class B common stock without further stockholder action, subject to the requirements of applicable law and stock exchanges. Viacom's certificate of incorporation authorizes 375 million shares of Class A common stock and 5 billion shares of Class B common stock. The number of authorized shares of Class A common stock and Class B common stock could be increased with the approval of the stockholders of a majority of the outstanding shares of Class A common stock and without any action by the holders of shares of Class B common stock. | ||||||||||
The following is a description of the material terms of Viacom's capital stock. The following description is not meant to be complete and is qualified by reference to Viacom's certificate of incorporation and bylaws and Delaware General Corporation Law. | ||||||||||
Voting Rights | ||||||||||
Holders of Class A common stock are entitled to one vote per share. Holders of Class B common stock do not have any voting rights, except as required by Delaware law. Generally, all matters to be voted on by Viacom stockholders must be approved by a majority of the aggregate voting power of the shares of Class A common stock present in person or represented by proxy at a meeting of stockholders, except in certain limited circumstances and as required by Delaware law. | ||||||||||
Dividends | ||||||||||
Stockholders of Class A common stock and Class B common stock will share ratably in any cash dividend declared by the Board of Directors, subject to any preferential rights of any outstanding preferred stock. | ||||||||||
Conversion | ||||||||||
So long as there are 5,000 shares of Class A common stock outstanding, each share of Class A common stock will be convertible at the option of the holder of such share into one share of Class B common stock. | ||||||||||
Liquidation Rights | ||||||||||
In the event of liquidation, dissolution or winding-up of Viacom, all stockholders of common stock, regardless of class, will be entitled to share ratably in any assets available for distributions to stockholders of shares of Viacom common stock subject to the preferential rights of any outstanding preferred stock. | ||||||||||
Split, Subdivisions or Combination | ||||||||||
In the event of a split, subdivision or combination of the outstanding shares of Class A common stock or Class B common stock, the outstanding shares of the other class of common stock will be divided proportionally. | ||||||||||
Preemptive Rights | ||||||||||
Shares of Class A common stock and Class B common stock do not entitle a stockholder to any preemptive rights enabling a stockholder to subscribe for or receive shares of stock of any class or any other securities convertible into shares of stock of any class of Viacom. | ||||||||||
Preferred Stock | ||||||||||
Our capital stock includes 25 million authorized shares of preferred stock with a par value of $0.001 per share. At September 30, 2013 and 2012, none of the 25 million authorized shares of the preferred stock were issued and outstanding. | ||||||||||
Stock Repurchase Program | ||||||||||
On August 1, 2013, we increased the size of our Class B common stock repurchase program from $10.0 billion to $20.0 billion. During 2013, we repurchased 69.2 million shares for an aggregate price of $4.8 billion. From October 1, 2013 through November 13, 2013, we repurchased an additional 3.2 million shares for an aggregate price of $270 million. As of November 13, 2013, we had $9.630 billion of remaining capacity in our $20.0 billion stock repurchase program. During 2012 and 2011, we repurchased 59.9 million and 55.7 million shares under the program for an aggregate price of $2.8 billion and $2.5 billion, respectively. | ||||||||||
Accumulated Other Comprehensive Loss | ||||||||||
The components of Accumulated other comprehensive loss are as follows: | ||||||||||
Accumulated Other Comprehensive Loss | September 30, | |||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||
Foreign currency translation adjustments | $ | -20 | $ | 19 | $ | 61 | ||||
Defined benefit pension plans | -82 | -272 | -209 | |||||||
Cash flow hedges | 1 | -8 | -14 | |||||||
Available for sale securities | - | -3 | -2 | |||||||
Total | $ | -101 | $ | -264 | $ | -164 | ||||
Restructuring_and_Other_Charge
Restructuring and Other Charges | 12 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Restructuring And Related Activities [Abstract] | ' | |||||||||
Restructuring And Related Activities Disclosure Text Block | ' | |||||||||
NOTE 13. RESTRUCTURING & OTHER CHARGES | ||||||||||
We incurred restructuring and other charges of $106 million in 2013. During the past year, we have engaged in a global business transformation initiative to integrate and upgrade our systems and processes. As a result, we have approved a restructuring plan which includes severance charges of $86 million. We also undertook a strategic review of some of our brands and incurred a $7 million intangible asset impairment charge resulting from the decision to abandon the asset and $13 million of charges related to management's decision to cease use of certain original and acquired programming on one of our Media Networks channels. The programming charge represents the acceleration of amortization of such programming into the fourth fiscal quarter and is included within Operating expenses in the Consolidated Statement of Earnings. We expect that this restructuring plan will be substantially completed by September 30, 2014 and the majority of the severance will be paid in fiscal 2014. | ||||||||||
The following table presents the components of the 2013 restructuring and other charges by segment: | ||||||||||
Restructuring charges of $144 million were incurred in 2011, of which $91 million were at our Media Networks segment and $53 million at Filmed Entertainment. The restructuring charges included $123 million of severance and $21 million of lease termination and other exit activities. | ||||||||||
The restructuring charges gave rise to certain future liabilities, the components of which are detailed below for 2013, 2012 and 2011. The payments during 2013 reflected in the table below are related to the 2011 restructuring plan. The remaining liability at September 30, 2013 includes $17 million of severance payments yet to be paid out with respect to the 2011 plan pursuant to the respective underlying contractual arrangements. | ||||||||||
2013 Restructuring and Other Charges | Media | Filmed | ||||||||
(in millions) | Networks | Entertainment | Total | |||||||
Severance charges | $ | 61 | $ | 25 | $ | 86 | ||||
Asset impairment | 7 | - | 7 | |||||||
Restructuring | 68 | 25 | 93 | |||||||
Programming inventory | 13 | - | 13 | |||||||
Total | $ | 81 | $ | 25 | $ | 106 | ||||
2011 Restructuring Charges | Media | Filmed | ||||||||
(in millions) | Networks | Entertainment | Total | |||||||
Severance charges | $ | 84 | $ | 39 | $ | 123 | ||||
Lease termination and other exit costs | 7 | 14 | 21 | |||||||
30-Sep-11 | $ | 91 | $ | 53 | $ | 144 | ||||
Restructuring Liability | Media | Filmed | ||||||||
(in millions) | Networks | Entertainment | Total | |||||||
30-Sep-10 | $ | 4 | $ | 9 | $ | 13 | ||||
Additions | 82 | 44 | 126 | |||||||
Severance payments | -3 | -9 | -12 | |||||||
Revisions to initial estimates | -3 | - | -3 | |||||||
30-Sep-11 | 80 | 44 | 124 | |||||||
Severance payments | -39 | -31 | -70 | |||||||
Lease payments | -3 | -4 | -7 | |||||||
30-Sep-12 | 38 | 9 | 47 | |||||||
Additions | 61 | 25 | 86 | |||||||
Severance payments | -20 | -7 | -27 | |||||||
Lease payments | -3 | - | -3 | |||||||
30-Sep-13 | $ | 76 | $ | 27 | $ | 103 | ||||
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||
Income Tax Disclosure Text Block | ' | |||||||||
NOTE 14. INCOME TAXES | ||||||||||
Earnings from continuing operations before provision for income taxes consist of the following: | ||||||||||
The provision for income taxes from continuing operations consists of the following: | ||||||||||
A reconciliation of the effective income tax rate on continuing operations to the U.S. federal statutory income tax rate is as follows: | ||||||||||
We recognized net discrete tax benefits of $54 million in 2013, $94 million in 2012 and $52 million in 2011, which served to reduce the provision for income taxes for those periods. The benefits in 2013 principally reflect the release of tax reserves with respect to certain effectively settled tax positions, as well as the recognition of certain capital loss carryforward and tax credit benefits. The benefits in 2012 include certain operating and capital loss carryforward benefits as well as the release of tax reserves with respect to certain effectively settled tax positions, and the benefits in 2011 principally relate to the release of tax reserves with respect to certain effectively settled tax positions. | ||||||||||
The tax effects of the items recorded as deferred tax assets and liabilities are: | ||||||||||
We have recorded valuation allowances for certain deferred tax assets, which are primarily related to net operating losses in foreign jurisdictions and capital losses in the U.S., as sufficient uncertainty exists regarding the future realization of these assets. | ||||||||||
We have $335 million of U.S. tax loss carryforwards at September 30, 2013. The utilization of these carryforwards as an available offset to future taxable income is subject to limitations under U.S. federal income tax laws. These carryforwards begin to expire in fiscal year 2016. In addition, we have $371 million of tax losses in various international jurisdictions that are primarily from countries with unlimited carry forward periods and $107 million of tax losses that expire in the fiscal years 2015 through 2031. The pre-valuation allowance deferred tax asset amount related to these U.S. and international tax loss carryforwards is $274 million. | ||||||||||
As of September 30, 2013, we have not made any provision for U.S. income taxes on approximately $2.1 billion of unremitted earnings of our international subsidiaries since these earnings are permanently reinvested outside the U.S. If these earnings were to be remitted in the future, the related U.S. income tax liability may be reduced by any foreign income taxes previously paid on these earnings. Under current U.S. tax laws, repatriating unremitted earnings could result in incremental taxes of 10% - 15% on the repatriated amounts depending on the territory. To the extent that any tax reform legislation were to lower the U.S. federal statutory income tax rate from its current 35%, there could be a corresponding reduction in the estimate of incremental taxes that would result from repatriating unremitted earnings. | ||||||||||
A reconciliation of the beginning and ending amounts of unrecognized tax benefits, excluding interest and penalties, is as follows: | ||||||||||
The total amount of unrecognized tax benefits at September 30, 2013, if recognized, would favorably affect the effective tax rate. | ||||||||||
As discussed in Note 2, we recognize interest and penalties accrued related to unrecognized tax benefits as a component of the Provision for income taxes in the Consolidated Statements of Earnings. We recognized interest and penalties of $9 million in 2013, $15 million in 2012 and $14 million in 2011. We had accruals of $35 million and $66 million related to interest and penalties recorded as a component of Other liabilities—current and noncurrent in the Consolidated Balance Sheets at September 30, 2013 and 2012, respectively. The reduction in the accrual for interest and penalties during the year was related to the release of certain effectively settled tax positions as well as settlements. | ||||||||||
We and our subsidiaries file income tax returns with the Internal Revenue Service (“IRS”) and various state and international jurisdictions. The IRS concluded its examination of our U.S. consolidated income tax returns through 2008 in 2013. Currently, there are no material potential income tax liabilities still in dispute with respect to the IRS examination of 2009. We anticipate the IRS will begin its examination of our 2010 and 2011 U.S. consolidated federal income tax returns in the first quarter of fiscal 2014. Tax authorities are also conducting examinations of Viacom subsidiaries in various state and local jurisdictions, including New York City. Due to potential resolution of unrecognized tax positions involving multiple tax periods and jurisdictions, it is reasonably possible that a reduction of up to $75 million of unrecognized income tax benefits may occur within 12 months, some of which, depending on the nature of the settlement, may affect our income tax provision and therefore benefit the resulting effective tax rate. The majority of these uncertain tax positions, when recognized in the financial statements, would be recorded in the Consolidated Statements of Earnings as part of the Provision for income taxes. The actual amount could vary significantly depending on the ultimate timing and nature of any settlements. | ||||||||||
Year Ended | ||||||||||
Pre-tax Earnings from Continuing Operations | September 30, | |||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||
United States | $ | 3,040 | $ | 2,984 | $ | 2,749 | ||||
International | 479 | 486 | 496 | |||||||
Pre-tax earnings from continuing operations | $ | 3,519 | $ | 3,470 | $ | 3,245 | ||||
Year Ended | ||||||||||
Provision for Income Taxes from Continuing Operations | September 30, | |||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||
Current provision for income taxes: | ||||||||||
Federal | $ | 401 | $ | 872 | $ | 453 | ||||
State and local | 23 | 117 | 53 | |||||||
International | 152 | 183 | 180 | |||||||
Total current provision for income taxes | 576 | 1,172 | 686 | |||||||
Deferred provision for income taxes | 494 | -87 | 376 | |||||||
Provision for income taxes | $ | 1,070 | $ | 1,085 | $ | 1,062 | ||||
Year Ended | ||||||||||
September 30, | ||||||||||
Effective Tax Rate | 2013 | 2012 | 2011 | |||||||
U.S. federal statutory income tax rate | 35 | % | 35 | % | 35 | % | ||||
State and local taxes, net of federal benefit | 2.2 | 2.2 | 2.6 | |||||||
Effect of international operations | -2.6 | -0.8 | -2 | |||||||
Audit settlements | -1.3 | -1.4 | -2 | |||||||
Qualified production activities deduction | -2.1 | -3 | -2.5 | |||||||
Change in valuation allowance | -1.8 | -1.4 | - | |||||||
All other, net | 1 | 0.7 | 1.6 | |||||||
Effective tax rate, continuing operations | 30.4 | % | 31.3 | % | 32.7 | % | ||||
Deferred Taxes | September 30, | |||||||||
(in millions) | 2013 | 2012 | ||||||||
Deferred tax assets: | ||||||||||
Accrued liabilities | $ | 199 | $ | 332 | ||||||
Postretirement and other employee benefits | 294 | 394 | ||||||||
Tax credit and loss carryforwards | 274 | 216 | ||||||||
All other | 188 | 219 | ||||||||
Total deferred tax assets | 955 | 1,161 | ||||||||
Valuation allowance | -277 | -324 | ||||||||
Total deferred tax assets, net* | $ | 678 | $ | 837 | ||||||
Deferred tax liabilities: | ||||||||||
Property, equipment and intangible assets | $ | -436 | $ | -415 | ||||||
Unbilled revenue | -133 | -105 | ||||||||
Financing obligations | -120 | - | ||||||||
Film & TV production expenditures | -535 | -254 | ||||||||
Total deferred tax liabilities | -1,224 | -774 | ||||||||
Deferred taxes, net | $ | -546 | $ | 63 | ||||||
*Includes $45 million noncurrent deferred tax assets, net reflected within Other assets - noncurrent in the Consolidated Balance Sheet as of September 30, 2013. | ||||||||||
Year Ended | ||||||||||
Unrecognized Tax Benefits | September 30, | |||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||
Balance at beginning of the period | $ | 207 | $ | 212 | $ | 304 | ||||
Gross additions based on tax positions related to the current year | 29 | 28 | 17 | |||||||
Gross additions for tax positions of prior years | 5 | 24 | 3 | |||||||
Gross reductions for tax positions of prior years | -50 | -44 | -97 | |||||||
Settlements | -25 | -2 | -11 | |||||||
Expiration of the statute of limitation | -7 | -11 | -4 | |||||||
Balance at end of the period | $ | 159 | $ | 207 | $ | 212 | ||||
Supplemental_Cash_Flow_and_Oth
Supplemental Cash Flow and Other Information | 12 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Supplemental Cash Flow And OtherInformation Disclosure [Abstract] | ' | |||||||||
Supplemental Cash Flow and Other Information | ' | |||||||||
NOTE 15. SUPPLEMENTAL CASH FLOW AND OTHER INFORMATION | ||||||||||
Cash paid for income taxes in the year ended September 30, 2013 reflects the benefit from the retroactive reenactment of legislation allowing for accelerated tax deductions on certain qualified film and television productions. Cash paid for income taxes in 2012 is net of approximately $100 million related to a federal tax refund resulting from the carryback of capital losses against taxes previously paid on capital gains. | ||||||||||
Sales of HBO Pacific Partners and LAPTV | ||||||||||
In the fourth quarter of 2013, we completed the sales of our 20% interest in HBO Pacific Partners and our 22.5% interest in LAPTV, partnerships that own pay television channels under various brand names and that were accounted for under the equity method. The sales resulted in aggregate total proceeds of $124 million and a gain of $111 million. | ||||||||||
Accounts Receivable | ||||||||||
We had $379 million and $372 million of noncurrent trade receivables as of September 30, 2013 and 2012, respectively. The accounts receivable were primarily in the Filmed Entertainment segment, included within Other assets in our Consolidated Balance Sheets, and principally related to long-term television license arrangements. Such amounts are due in accordance with the underlying terms of the respective agreements and are principally from investment grade companies with which we have historically done business under similar terms, for which credit loss allowances are generally not considered necessary. | ||||||||||
Collaborative Arrangements | ||||||||||
Our collaborative arrangements principally relate to contractual arrangements with other studios to jointly finance and distribute theatrical productions (“co-financing arrangements”). A co-financing arrangement typically involves joint ownership of the film asset with each partner responsible for distribution of the film in specific territories. The partners share in the profits and losses of the film in accordance with their respective ownership interest. The amounts recorded in the Consolidated Statements of Earnings related to collaborative arrangements were not material. | ||||||||||
Year Ended | ||||||||||
Supplemental Cash Flow Information | September 30, | |||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||
Cash paid for interest* | $ | 475 | $ | 409 | $ | 420 | ||||
Cash paid for income taxes | $ | 463 | $ | 1,069 | $ | 1,050 | ||||
*Includes cash payments related to discontinued operations of $28 million and $3 million in 2013 and 2012, respectively. | ||||||||||
Year Ended | ||||||||||
Interest Expense, net | September 30, | |||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||
Interest expense | $ | -468 | $ | -425 | $ | -419 | ||||
Interest income | 4 | 8 | 7 | |||||||
Interest expense, net | $ | -464 | $ | -417 | $ | -412 | ||||
Year Ended | ||||||||||
Other Items, net | September 30, | |||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||
Gain on sale of HBO Pacific Partners and LAPTV | $ | 111 | $ | - | $ | - | ||||
Other investment gains | 46 | - | - | |||||||
Impairment of investment | -23 | - | - | |||||||
Foreign exchange loss | -23 | -8 | -4 | |||||||
Other gains/(losses) | -5 | 3 | -2 | |||||||
Other items, net | $ | 106 | $ | -5 | $ | -6 | ||||
Year Ended | ||||||||||
Redeemable Noncontrolling Interest | September 30, | |||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||
Beginning balance | $ | 179 | $ | 152 | $ | 131 | ||||
Net earnings | 14 | 16 | 12 | |||||||
Distributions | -13 | -16 | -12 | |||||||
Translation adjustment | -4 | 7 | -1 | |||||||
Redemption value adjustment | 24 | 20 | 22 | |||||||
Ending balance | $ | 200 | $ | 179 | $ | 152 | ||||
Reporting_Segments
Reporting Segments | 12 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Reporting Segments Disclosure [Abstract] | ' | |||||||||||||||
Reporting Segments | ' | |||||||||||||||
NOTE 16. REPORTING SEGMENTS | ||||||||||||||||
The following tables set forth our financial performance by reporting segment. Our reporting segments have been determined in accordance with our internal management structure. We manage our operations through two reporting segments: (i) Media Networks and (ii) Filmed Entertainment. Typical intersegment transactions include the purchase of advertising by the Filmed Entertainment segment on Media Networks' properties and the purchase of Filmed Entertainment's feature films exhibition rights by Media Networks. The elimination of such intercompany transactions in the Consolidated Financial Statements is included within eliminations in the tables below. | ||||||||||||||||
Our measure of segment performance is adjusted operating income (loss). Adjusted operating income (loss) is defined as operating income (loss), before equity-based compensation and certain other items identified as affecting comparability, including restructuring and other charges, when applicable. | ||||||||||||||||
Revenues generated from international markets were 26%, 29% and 29% of total consolidated revenues in 2013, 2012 and 2011, respectively. Our principal international businesses are in Europe. The United Kingdom and Germany together accounted for approximately 44%, 44% and 42% of total revenues in the Europe, Middle East and Africa (“EMEA”) region in 2013, 2012 and 2011, respectively. | ||||||||||||||||
*Revenue classifications are based on customers' locations. Transactions within Viacom between geographic areas are not significant. | ||||||||||||||||
**Reflects total assets less current assets, deferred tax assets, goodwill, intangibles and investments. | ||||||||||||||||
Year Ended | ||||||||||||||||
Revenues by Segment | September 30, | |||||||||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||||||||
Media Networks | $ | 9,656 | $ | 9,194 | $ | 9,145 | ||||||||||
Filmed Entertainment | 4,282 | 4,820 | 5,923 | |||||||||||||
Eliminations | -144 | -127 | -154 | |||||||||||||
Total revenues | $ | 13,794 | $ | 13,887 | $ | 14,914 | ||||||||||
Year Ended | ||||||||||||||||
Adjusted Operating Income | September 30, | |||||||||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||||||||
Media Networks | $ | 4,096 | $ | 3,889 | $ | 3,848 | ||||||||||
Filmed Entertainment | 234 | 325 | 341 | |||||||||||||
Corporate expenses | -251 | -192 | -207 | |||||||||||||
Equity-based compensation | -128 | -122 | -128 | |||||||||||||
Eliminations | -9 | 1 | - | |||||||||||||
Restructuring and other charges | -106 | - | -144 | |||||||||||||
Operating income | 3,836 | 3,901 | 3,710 | |||||||||||||
Interest expense, net | -464 | -417 | -412 | |||||||||||||
Equity in net earnings (losses) of investee companies | 41 | 12 | 40 | |||||||||||||
Loss on extinguishment of debt | - | -21 | -87 | |||||||||||||
Other items, net | 106 | -5 | -6 | |||||||||||||
Earnings from continuing operations before provision for income taxes | $ | 3,519 | $ | 3,470 | $ | 3,245 | ||||||||||
Depreciation and Amortization | Total Assets | |||||||||||||||
Year Ended | ||||||||||||||||
Depreciation and Amortization and Total Assets | September 30, | September 30, | ||||||||||||||
(in millions) | 2013 | 2012 | 2011 | 2013 | 2012 | |||||||||||
Media Networks | $ | 144 | $ | 144 | $ | 177 | $ | 16,653 | $ | 16,401 | ||||||
Filmed Entertainment | 89 | 87 | 89 | 5,647 | 5,251 | |||||||||||
Corporate/Eliminations | 4 | 5 | 5 | 1,529 | 598 | |||||||||||
Total | $ | 237 | $ | 236 | $ | 271 | $ | 23,829 | $ | 22,250 | ||||||
Year Ended | ||||||||||||||||
Capital Expenditures | September 30, | |||||||||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||||||||
Media Networks | $ | 103 | $ | 101 | $ | 96 | ||||||||||
Filmed Entertainment | 53 | 46 | 55 | |||||||||||||
Corporate | 4 | 7 | 4 | |||||||||||||
Total capital expenditures | $ | 160 | $ | 154 | $ | 155 | ||||||||||
Year Ended | ||||||||||||||||
Revenues by Component | September 30, | |||||||||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||||||||
Advertising | $ | 4,855 | $ | 4,756 | $ | 4,997 | ||||||||||
Feature film | 3,742 | 4,366 | 5,482 | |||||||||||||
Affiliate fees | 4,245 | 3,889 | 3,519 | |||||||||||||
Ancillary | 1,096 | 1,003 | 1,070 | |||||||||||||
Eliminations | -144 | -127 | -154 | |||||||||||||
Total revenues | $ | 13,794 | $ | 13,887 | $ | 14,914 | ||||||||||
Revenues* | Long-lived Assets** | |||||||||||||||
Year Ended | ||||||||||||||||
Geographic Information | September 30, | September 30, | ||||||||||||||
(in millions) | 2013 | 2012 | 2011 | 2013 | 2012 | |||||||||||
United States | $ | 10,152 | $ | 9,804 | $ | 10,538 | $ | 4,982 | $ | 5,238 | ||||||
EMEA | 2,173 | 2,423 | 2,587 | 418 | 396 | |||||||||||
All other | 1,469 | 1,660 | 1,789 | 75 | 104 | |||||||||||
Total | $ | 13,794 | $ | 13,887 | $ | 14,914 | $ | 5,475 | $ | 5,738 | ||||||
Related_Party_Transactions
Related Party Transactions | 12 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Related Party Transactions Disclosure [Abstract] | ' | |||||||||
Related Party Transactions | ' | |||||||||
NOTE 17. RELATED PARTY TRANSACTIONS | ||||||||||
NAI, directly and through a wholly-owned subsidiary, is the controlling stockholder of both Viacom and CBS. Sumner M. Redstone, the controlling stockholder, Chairman and Chief Executive Officer of NAI, serves as our Executive Chairman and Founder and as the Executive Chairman and Founder of CBS. Shari Redstone, who is Sumner Redstone's daughter, is the President and a director of NAI, and serves as non-executive Vice Chair of the Board of Directors of both Viacom and CBS. George Abrams, one of our directors, serves on the boards of both NAI and Viacom, and Frederic Salerno, another of our directors, serves on the boards of both Viacom and CBS. Philippe Dauman, our President and Chief Executive Officer, also serves on the boards of both NAI and Viacom. Transactions between Viacom and related parties are overseen by our Governance and Nominating Committee. | ||||||||||
Viacom and NAI Related Party Transactions | ||||||||||
NAI licenses films in the ordinary course of business for its motion picture theaters from all major studios, including Paramount. During the years ended September 30, 2013, 2012 and 2011, Paramount earned revenues from NAI in connection with these licenses in the aggregate amounts of approximately $19 million, $19 million and $44 million, respectively. | ||||||||||
Viacom and CBS Corporation Related Party Transactions | ||||||||||
In the ordinary course of business, we are involved in transactions with CBS and its various businesses that result in the recognition of revenues and expenses by us. Transactions with CBS are settled in cash. | ||||||||||
Paramount earns revenues and recognizes expenses associated with its distribution of certain television products into the home entertainment market on behalf of CBS. Pursuant to its agreement with CBS, Paramount distributes CBS's library of television and other content on DVD and Blu-ray disc on a worldwide basis. Under the terms of the agreement, Paramount is entitled to retain a fee based on a percentage of gross receipts and is generally responsible for all out-of-pocket costs, which are recoupable prior to any participation payments to CBS. In April 2013, Paramount and CBS extended the term of the agreement. Paramount also earns revenues from CBS through leasing of studio space and licensing of certain film products. | ||||||||||
The Media Networks segment recognizes advertising revenues and purchases television programming from CBS. The cost of the programming purchases is initially recorded as acquired program rights inventory and amortized over the estimated period that revenues will be generated. | ||||||||||
Both of our segments recognize advertising expenses related to the placement of advertisements with CBS. | ||||||||||
The following table summarizes the transactions with CBS as included in our Consolidated Financial Statements: | ||||||||||
Other Related Party Transactions | ||||||||||
In the ordinary course of business, we are involved in related party transactions with equity investees, principally related to investments in unconsolidated VIEs as more fully described in Note 3. These related party transactions primarily relate to the provision of advertising services, licensing of film and programming content, distribution of films and provision of certain administrative support services, for which the impact on our Consolidated Financial Statements is as follows: | ||||||||||
All other related party transactions are not material in the periods presented. | ||||||||||
Year Ended | ||||||||||
CBS Related Party Transactions | September 30, | |||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||
Consolidated Statements of Earnings | ||||||||||
Revenues | $ | 264 | $ | 285 | $ | 341 | ||||
Operating expenses | $ | 327 | $ | 347 | $ | 434 | ||||
September 30, | ||||||||||
2013 | 2012 | |||||||||
Consolidated Balance Sheets | ||||||||||
Accounts receivable | $ | 5 | $ | 7 | ||||||
Other assets | - | 1 | ||||||||
Total due from CBS | $ | 5 | $ | 8 | ||||||
Accounts payable | $ | 3 | $ | 1 | ||||||
Participants' share and residuals, current | 115 | 143 | ||||||||
Program rights obligations, current | 99 | 110 | ||||||||
Program rights obligations, noncurrent | 139 | 169 | ||||||||
Other liabilities | 15 | 24 | ||||||||
Total due to CBS | $ | 371 | $ | 447 | ||||||
Year Ended | ||||||||||
Other Related Party Transactions | September 30, | |||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||
Consolidated Statements of Earnings | ||||||||||
Revenues | $ | 216 | $ | 309 | $ | 239 | ||||
Operating expenses | $ | 63 | $ | 120 | $ | 83 | ||||
Selling, general and administrative | $ | -17 | $ | -16 | $ | -16 | ||||
September 30, | ||||||||||
2013 | 2012 | |||||||||
Consolidated Balance Sheets | ||||||||||
Accounts receivable | $ | 84 | $ | 114 | ||||||
Other assets | 1 | 3 | ||||||||
Total due from other related parties | $ | 85 | $ | 117 | ||||||
Accounts payable | $ | 4 | $ | 8 | ||||||
Other liabilities | 26 | 17 | ||||||||
Total due to other related parties | $ | 30 | $ | 25 | ||||||
Discontinued_Operations
Discontinued Operations | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Discontinued Operations Disclosure [Abstract] | ' | ||||||||
Discontinued Operations Disclosure | ' | ||||||||
NOTE 18. DISCONTINUED OPERATIONS | |||||||||
Discontinued operations for all periods presented principally relates to Harmonix, which was sold in December 2010. Other discontinued operations activity in all years reflects adjustments related to businesses previously sold. | |||||||||
Discontinued operations activity for the year ended September 30, 2012 principally reflects the $383 million charge related to the earn-out dispute with the former shareholders of Harmonix. Activity for the year ended September 30, 2013 principally reflects interest on the dispute. The pre-tax loss from discontinued operations for the year ended September 30, 2011 is a $12 million loss from operations for the period through the date of the sale of Harmonix and a $14 million loss on disposal. | |||||||||
For tax purposes, the disposal of Harmonix and related earn-out payment generated tax benefits of approximately $250 million, of which approximately $103 million has been utilized as of September 30, 2013. The remaining benefit will be available to offset qualifying future cash taxes. | |||||||||
Discontinued Operations | |||||||||
(in millions) | Harmonix | All Other | Total | ||||||
Year ended September 30, 2013 | |||||||||
Pre-tax earnings (losses) from discontinued operations | $ | -19 | $ | - | $ | -19 | |||
Income tax benefit | 7 | - | 7 | ||||||
Net earnings (losses) from discontinued operations | $ | -12 | $ | - | $ | -12 | |||
Year ended September 30, 2012 | |||||||||
Pre-tax earnings (losses) from discontinued operations | $ | -398 | $ | 8 | $ | -390 | |||
Income tax benefit (provision) | 21 | 5 | 26 | ||||||
Net earnings (losses) from discontinued operations | $ | -377 | $ | 13 | $ | -364 | |||
Year ended September 30, 2011 | |||||||||
Revenues from discontinued operations | $ | 49 | $ | - | $ | 49 | |||
Pre-tax earnings (losses) from discontinued operations | $ | -31 | $ | 8 | $ | -23 | |||
Income tax benefit (provision) | 15 | -2 | 13 | ||||||
Net earnings (losses) from discontinued operations | $ | -16 | $ | 6 | $ | -10 | |||
Quarterly_Financial_Data_Unaud
Quarterly Financial Data Unaudited | 12 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Quarterly Financial Data Disclosure [Abstract] | ' | |||||||||||||||
Quarterly Financial Information Text Block | ' | |||||||||||||||
NOTE 19. QUARTERLY FINANCIAL DATA (unaudited): | ||||||||||||||||
2013 | Year Ended | |||||||||||||||
(in millions, except per share information) | First | Second | Third | Fourth | 30-Sep-13 | |||||||||||
Revenues | $ | 3,314 | $ | 3,135 | $ | 3,693 | $ | 3,652 | $ | 13,794 | ||||||
Operating income | $ | 797 | $ | 847 | $ | 1,085 | $ | 1,107 | $ | 3,836 | ||||||
Net earnings from continuing operations (Viacom and noncontrolling interests) | $ | 482 | $ | 489 | $ | 666 | $ | 812 | $ | 2,449 | ||||||
Net earnings (Viacom and noncontrolling interests) | $ | 479 | $ | 486 | $ | 662 | $ | 810 | $ | 2,437 | ||||||
Net earnings from continuing operations attributable to Viacom | $ | 473 | $ | 481 | $ | 647 | $ | 806 | $ | 2,407 | ||||||
Net earnings attributable to Viacom | $ | 470 | $ | 478 | $ | 643 | $ | 804 | $ | 2,395 | ||||||
Basic net earnings per share, continuing operations attributable to Viacom | $ | 0.94 | $ | 0.98 | $ | 1.34 | $ | 1.72 | $ | 4.95 | ||||||
Basic net earnings per share attributable to Viacom | $ | 0.94 | $ | 0.97 | $ | 1.33 | $ | 1.72 | $ | 4.93 | ||||||
Diluted net earnings per share, continuing operations attributable to Viacom | $ | 0.93 | $ | 0.96 | $ | 1.32 | $ | 1.69 | $ | 4.86 | ||||||
Diluted net earnings per share attributable to Viacom | $ | 0.92 | $ | 0.96 | $ | 1.31 | $ | 1.68 | $ | 4.84 | ||||||
2012 | Year Ended | |||||||||||||||
(in millions, except per share information) | First | Second | Third | Fourth | 30-Sep-12 | |||||||||||
Revenues | $ | 3,952 | $ | 3,331 | $ | 3,241 | $ | 3,363 | $ | 13,887 | ||||||
Operating income | $ | 1,016 | $ | 932 | $ | 903 | $ | 1,050 | $ | 3,901 | ||||||
Net earnings from continuing operations (Viacom and noncontrolling interests) | $ | 601 | $ | 599 | $ | 536 | $ | 649 | $ | 2,385 | ||||||
Net earnings (Viacom and noncontrolling interests) | $ | 222 | $ | 596 | $ | 547 | $ | 656 | $ | 2,021 | ||||||
Net earnings from continuing operations attributable to Viacom | $ | 591 | $ | 588 | $ | 523 | $ | 643 | $ | 2,345 | ||||||
Net earnings attributable to Viacom | $ | 212 | $ | 585 | $ | 534 | $ | 650 | $ | 1,981 | ||||||
Basic net earnings per share, continuing operations attributable to Viacom | $ | 1.07 | $ | 1.09 | $ | 1 | $ | 1.26 | $ | 4.42 | ||||||
Basic net earnings per share attributable to Viacom | $ | 0.39 | $ | 1.09 | $ | 1.02 | $ | 1.27 | $ | 3.73 | ||||||
Diluted net earnings per share, continuing operations attributable to Viacom | $ | 1.06 | $ | 1.08 | $ | 0.99 | $ | 1.24 | $ | 4.36 | ||||||
Diluted net earnings per share attributable to Viacom | $ | 0.38 | $ | 1.07 | $ | 1.01 | $ | 1.26 | $ | 3.69 | ||||||
Schedule_ll_Disclosure
Schedule ll - Disclosure | 12 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Schedule ll Disclosure [Abstract] | ' | ||||||||||||
Schedule Of Valuation And Qualifying Accounts Disclosure [Text Block] | ' | ||||||||||||
Item 15(a). | |||||||||||||
VIACOM INC. | |||||||||||||
SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS | |||||||||||||
Beginning of | Additions - expense | ||||||||||||
(in millions) | period | and other | Deductions | End of period | |||||||||
Year ended September 30, 2013: | |||||||||||||
Allowance for doubtful accounts | $ | 36 | $ | 8 | $ | -11 | $ | 33 | |||||
Sales returns and allowances | $ | 282 | $ | 503 | $ | -524 | $ | 261 | |||||
Inventory obsolescence reserves | $ | 74 | $ | 3 | $ | -2 | $ | 75 | |||||
Deferred tax valuation allowance | $ | 324 | $ | 75 | $ | -122 | $ | 277 | |||||
Year ended September 30, 2012: | |||||||||||||
Allowance for doubtful accounts | $ | 49 | $ | 6 | $ | -19 | $ | 36 | |||||
Sales returns and allowances | $ | 309 | $ | 595 | $ | -622 | $ | 282 | |||||
Inventory obsolescence reserves | $ | 73 | $ | 11 | $ | -10 | $ | 74 | |||||
Deferred tax valuation allowance | $ | 222 | $ | 161 | $ | -59 | $ | 324 | |||||
Year ended September 30, 2011: | |||||||||||||
Allowance for doubtful accounts | $ | 76 | $ | 9 | $ | -36 | $ | 49 | |||||
Sales returns and allowances | $ | 254 | $ | 693 | $ | -638 | $ | 309 | |||||
Inventory obsolescence reserves | $ | 73 | $ | 20 | $ | -20 | $ | 73 | |||||
Deferred tax valuation allowance | $ | 144 | $ | 94 | $ | -16 | $ | 222 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies (Policies) | 12 Months Ended | ||||||
Sep. 30, 2013 | |||||||
Summary Of Significant Accounting Policies [Abstract] | ' | ||||||
Earnings Per Share | ' | ||||||
Earnings per Common Share | |||||||
Basic earnings per common share is computed by dividing Net earnings attributable to Viacom by the weighted average number of common shares outstanding during the period. The determination of diluted earnings per common share includes the weighted average number of common shares plus the dilutive effect of equity awards based upon the application of the treasury stock method. Anti-dilutive common shares were excluded from the calculation of diluted earnings per common share. | |||||||
The following table sets forth the weighted average number of common shares outstanding used in determining basic and diluted earnings per common share and anti-dilutive shares: | |||||||
Year Ended | |||||||
Common Shares Outstanding and Anti-Dilutive Common Shares | September 30, | ||||||
(in millions) | 2013 | 2012 | 2011 | ||||
Weighted average common shares outstanding, basic | 486.2 | 530.7 | 587.3 | ||||
Dilutive effect of equity awards | 8.6 | 6.8 | 7 | ||||
Weighted average common shares outstanding, diluted | 494.8 | 537.5 | 594.3 | ||||
Anti-dilutive common shares | 3.2 | 12.5 | 17.8 | ||||
Principles of Consolidation | ' | ||||||
Principles of Consolidation | |||||||
Our consolidated financial statements include the accounts of Viacom Inc., its subsidiaries and variable interest entities (“VIEs”) where we are considered the primary beneficiary, after elimination of intercompany accounts and transactions. Investments in business entities in which Viacom lacks control but does have the ability to exercise significant influence over operating and financial policies are accounted for using the equity method. Our proportionate share of net income or loss of the entity is recorded in Equity in net earnings of investee companies in the Consolidated Statements of Earnings. Related party transactions between the Company and CBS Corporation (“CBS”) and National Amusements Inc. (“NAI”) have not been eliminated. | |||||||
Revenue Recognition | ' | ||||||
Revenue Recognition | |||||||
We recognize revenue when it is realized or realizable and earned. We consider revenue realized or realizable and earned when there is persuasive evidence of an arrangement, delivery has occurred, the sales price is fixed or determinable, and collectability is reasonably assured. Determining whether some or all of these criteria have been met involves assumptions and judgments that can have a significant impact on the timing and amount of revenue we report. This includes the evaluation of multiple element arrangements for bundled advertising sales and content licenses, which involves allocating the consideration among individual deliverables within the bundled arrangement. | |||||||
Advertising Revenues | |||||||
Revenues from the sale of advertising earned by the Media Networks segment is recognized, net of agency commissions, when the advertisement is aired and the contracted audience rating is met. Should the advertisement fail to meet the contracted audience rating, we record a liability referred to as an audience deficiency unit liability. The liability is relieved when the audience rating is satisfied, typically through the provision of additional air time for the advertiser. | |||||||
Feature Film Revenues | |||||||
Revenue is recognized from theatrical distribution of motion pictures upon exhibition. For home entertainment product revenue, including sales to wholesalers and retailers, revenue is recognized upon the later of delivery or the date that those products are made widely available for sale by retailers. Revenue from the licensing of feature films for exhibition in television markets, when fixed, is recognized upon availability for airing by the licensee. Revenue for video-on-demand and similar pay-per-view arrangements are recognized as the feature films are exhibited based on end-customer purchases as reported by the distributor. | |||||||
Affiliate Fees | |||||||
Affiliate fees from cable television, satellite and telecommunications operators are recognized by the Media Networks segment as the service is provided to the distributor. Fees associated with digital distribution arrangements are recognized upon program availability. | |||||||
Ancillary Revenues | |||||||
Revenue associated with consumer products and brand licensing is typically recognized utilizing contractual royalty rates applied to sales amounts reported by licensees. Revenue for online transactions, such as electronic streaming or downloads of films and programming or product add-ons, is recognized when the fee is paid by the online customer to access the content. We are notified by the online retailer that the product has been downloaded and all other revenue recognition criteria are met. Ancillary online subscription revenues are generally recognized on a straight-line basis over the service period. | |||||||
Gross versus Net Revenue | |||||||
We earn and recognize revenues as a distributor on behalf of third parties. In such cases, determining whether revenue should be reported on a gross or net basis is based on management's assessment of whether we act as the principal or agent in the transaction. To the extent we act as the principal in a transaction, revenues are reported on a gross basis. Determining whether we act as principal or agent in a transaction involves judgment and is based on an evaluation of whether we have the substantial risks and rewards of ownership under the terms of an arrangement. | |||||||
Our most significant distribution arrangements are in connection with our distribution agreement with CBS and our continuing relationship with DreamWorks Animation for the films we theatrically distributed. We distributed the final film under the DreamWorks Animation distribution arrangement in November 2012. Under the terms of these agreements, we are generally responsible for all out-of-pocket costs, primarily comprised of distribution and marketing costs. For the provision of distribution services, we generally retain a fee based upon a percentage of gross receipts and recover expended distribution and marketing costs on a title-by-title basis prior to any participation payments to the contracting parties of the films, except as pertains to certain contractually agreed upon advance payments, if applicable. As primary obligor, revenue and related distribution and marketing costs for these arrangements are presented on a gross basis. | |||||||
Sales Returns, Allowances & Uncollectible Accounts | |||||||
We record a provision for sales returns and allowances at the time of sale based upon an estimate of future returns, rebates and other incentives (“estimated returns”). In determining estimated returns, we consider numerous sources of qualitative and quantitative evidence including forecasted sales data, customers' rights of return, units shipped and units remaining at retail, historical return rates for similar product, current economic trends, competitive environment, promotions and sales strategies. Reserves for accounts receivable are based on amounts estimated to be uncollectible. Our reserve for sales returns and allowances was $261 million and $282 million at September 30, 2013 and 2012, respectively. Our allowance for doubtful accounts was $33 million and $36 million at September 30, 2013 and 2012, respectively. | |||||||
Inventory | ' | ||||||
Inventory | |||||||
Inventories related to film and original media network programming content (which include direct production costs, production overhead, acquisition costs and development costs) are stated at the lower of amortized cost or fair value. Acquired program rights and obligations are recorded based on the gross amount of the liability when the license period has begun, and when the program is accepted and available for airing. Acquired programming is stated at the lower of unamortized cost or net realizable value. Film and programming inventories are included as a component of Inventory, net, in the Consolidated Balance Sheets. | |||||||
Film inventories are amortized and estimated liabilities for residuals and participations are accrued using an individual-film-forecast-computation method based on the ratio of current period to estimated remaining total revenues (“ultimate revenues”). Ultimate revenues for feature films include revenues from all sources that are estimated to be earned within ten years from the date of a film's initial theatrical release. For acquired film libraries, our estimate of ultimate revenues is for a period within 20 years from the date of acquisition. These estimates are periodically reviewed and adjustments, if any, will result in changes to inventory amortization rates, estimated accruals for residuals and participations or possibly the recognition of an impairment charge to operating income. Film development costs that have not been set for production are expensed within three years unless they are abandoned earlier, in which case these projects are written down to their estimated fair value in the period the decision to abandon the project is determined. We have a rigorous greenlight process designed to manage the risk of loss or abandonment. Film costs, including inventory amortization, development costs, residuals and participations accruals and impairment charges, if any, are included within Operating expenses in the Consolidated Statements of Earnings. We have entered into film financing arrangements that involve the sale of a partial copyright interest in a film. Amounts received under these arrangements are deducted from the film's cost. | |||||||
We acquire rights to programming and produce original programming to exhibit on our media networks. The costs incurred in acquiring and producing programs are capitalized and amortized over the license period or projected useful life of the programming if shorter. Costs related to programs produced are capitalized and amortized over the projected useful life. Original programming development costs are expensed unless a project is greenlit for production. An impairment charge is recorded when the fair value of the original programming is less than the unamortized production cost or the programming is abandoned. Net realizable value of acquired rights programming is evaluated quarterly by us on a daypart basis, which is defined as an aggregation of programs broadcast during a particular time of day or an aggregation of programs of a similar type. We aggregate similar programming based on the specific demographic targeted by each respective program service. Net realizable value is determined by estimating advertising revenues to be derived from the future airing of the programming within the daypart as well as an allocation of affiliate fee revenue to the programming. An impairment charge may be necessary if our estimates of future cash flows of similar programming are insufficient or if programming is abandoned. Programming costs, including inventory amortization, development costs and impairment charges, if any, are included within Operating expenses in the Consolidated Statements of Earnings. | |||||||
Home entertainment inventory is valued at the lower of cost or net realizable value. Cost is determined using the average cost method. Obsolescence reserves are based on estimates of future product demand. | |||||||
Advertising Expense | ' | ||||||
Advertising Expense | |||||||
We expense advertising costs as they are incurred. We incurred total advertising expenses of $1.117 billion in 2013, $1.205 billion in 2012 and $1.479 billion in 2011. | |||||||
Business Combinations | |||||||
We account for business combinations using the acquisition method of accounting. Under the acquisition method, once control is obtained of a business, 100% of the assets, liabilities and certain contingent liabilities acquired, including amounts attributed to noncontrolling interests, are recorded at fair value. Any transaction costs are expensed as incurred. | |||||||
Goodwill, Intangible Assets and Other Long-Lived Assets | |||||||
Goodwill represents the residual difference between the fair value of consideration paid for a business and the net assets acquired. Goodwill is not amortized, but rather is tested annually for impairment, on August 31 each year, or sooner when circumstances indicate impairment may exist. Goodwill is tested for impairment at the reporting unit level, which is an operating segment, or a business which is one level below that operating segment. | |||||||
Identifiable intangible assets with finite lives are amortized over their estimated useful lives, which range up to 20 years, and identifiable intangible assets with indefinite lives are not amortized, but rather are tested annually for impairment, or sooner when circumstances indicate impairment may exist. Amortizable intangible assets and other long-lived assets are tested for impairment utilizing an income approach based on undiscounted cash flows upon the occurrence of certain triggering events and, if impaired, are written down to fair value. | |||||||
Comprehensive Income | 'Comprehensive Income Comprehensive income includes net earnings, foreign currency translation adjustments, amortization of amounts related to defined benefit plans, unrealized gains and losses on certain derivative financial instruments, and unrealized gains and losses on investments in equity securities which are publicly traded. | ||||||
Provision for Income Taxes | 'Provision for Income Taxes Our provision for income taxes includes the current tax owed on the current period earnings, as well as a deferred provision which reflects the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Changes in existing tax laws and rates, their related interpretations, as well as the uncertainty generated by the prospect of tax legislation in the future may affect the amounts of deferred tax liabilities or the realizability of deferred tax assets. For tax positions we have taken or expect to take in a tax return, we apply a more likely than not assessment (i.e., there is a greater than 50 percent chance) about whether the tax position will be sustained upon examination by the appropriate tax authority with full knowledge of all relevant information. Amounts recorded for uncertain tax positions are periodically assessed, including the evaluation of new facts and circumstances, to ensure sustainability of the position. Interest and penalties related to uncertain tax positions are included in the Provision for income taxes in the Consolidated Statements of Earnings. Liabilities for uncertain tax positions are classified as Other liabilities – current or noncurrent in the Consolidated Balance Sheets based on when they are expected to be paid. | ||||||
Pension and Other Postretirement Benefits | ' | ||||||
Pension Benefits | |||||||
Our defined benefit pension plans principally consist of both funded and unfunded noncontributory plans covering the majority of domestic employees and retirees. The funded plan provides a defined benefit based on a percentage of eligible compensation for periods of service. In November 2012, we amended the funded defined benefit pension plan to freeze future benefits effective December 31, 2012. The unfunded pension plans are also currently frozen to future benefit accruals. The expense we recognize is determined using certain assumptions, including the expected long-term rate of return and discount rate, among others. We recognize the funded status of our defined benefit plans (other than a multiemployer plan) as an asset or liability in the Consolidated Balance Sheets and recognize the changes in the funded status in the year in which the changes occur through Accumulated other comprehensive loss in the Consolidated Balance Sheets. | |||||||
Property and Equipment | ' | ||||||
Property and Equipment | |||||||
Property and equipment is stated at cost. Depreciation is calculated using the straight-line method. Leasehold improvements are amortized using the straight-line method over the shorter of their useful lives or the life of the lease. Costs associated with repairs and maintenance of property and equipment are expensed as incurred. | |||||||
Equity-Based Compensation | ' | ||||||
Equity-Based Compensation | |||||||
We measure the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of the award. The fair value received is recognized in earnings over the period during which an employee is required to provide service. | |||||||
Investments | ' | ||||||
Investments | |||||||
Our investments primarily consist of investments in equity. Investments in which we have a significant influence, but not a controlling interest, are accounted for using the equity method. Other investments are carried at fair value, to the extent publicly traded, with unrealized gains and losses recorded in other comprehensive income, or at cost. We monitor our investments for impairment at least annually and make appropriate reductions in carrying values if we determine that an impairment charge is required based on qualitative and quantitative information. Our investments are included in Other assets – noncurrent in the Consolidated Balance Sheets. | |||||||
Guarantees | ' | ||||||
Guarantees | |||||||
At the inception of a guarantee, we recognize a liability for the fair value of an obligation assumed by issuing the guarantee. The related liability is subsequently reduced as utilized or extinguished and increased if there is a probable loss associated with the guarantee which exceeds the value of the recorded liability. | |||||||
Derivative Financial Instruments | 'Derivative Financial Instruments Derivative financial instruments are recorded on the Consolidated Balance Sheets as assets or liabilities and measured at fair value. For derivatives designated as hedges of the fair value of assets or liabilities, the changes in fair value of both the derivatives and the hedged items are recorded in current earnings as part of Other items, net in the Consolidated Statements of Earnings. For derivatives designated as cash flow hedges, the effective portion of the changes in fair value of the derivatives is recorded in Accumulated other comprehensive loss in the Consolidated Balance Sheets and subsequently recognized in earnings when the hedged items impact income. The fair value of derivative financial instruments is included in Prepaid and other assets and Other liabilities – current in the Consolidated Balance Sheets. Changes in the fair value of derivatives not designated as hedges and the ineffective portion of cash flow hedges are recorded in earnings. We do not hold or enter into financial instruments for speculative trading purposes. | ||||||
Fair Value Measurements | ' | ||||||
Foreign Currency Translation | |||||||
Assets and liabilities of subsidiaries with a functional currency other than the United States (“U.S.”) Dollar are translated into U.S. Dollars using period-end exchange rates, while results of operations are translated at average exchange rates during the period. Foreign currency translation gains and losses are included as a component of Accumulated other comprehensive loss in the Consolidated Balance Sheets. Substantially all of our foreign operations use the local currency as the functional currency. Foreign subsidiaries using the U.S. Dollar as the functional currency include remeasurement adjustments in earnings, which are reflected within Other items, net in the Consolidated Statements of Earnings. | |||||||
Fair Value Measurements | 'Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. The framework for measuring fair value provides a hierarchy that prioritizes the inputs to valuation techniques used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs (Level 3 measurement). The three levels of the fair value hierarchy are as follows: Level 1 - Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets. Level 2 - Inputs to the valuation methodology include: quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in inactive markets; inputs other than quoted prices that are observable for the asset or liability; inputs that are derived principally from or corroborated by observable market data by correlation or other means. Level 3 - Inputs to the valuation methodology are unobservable and significant to the fair value measurement. Our recurring fair value measures relate to marketable securities and derivative instruments. Our non-financial assets and non-financial liabilities subject to non-recurring measures include goodwill and intangible assets and are Level 3 measurements. | ||||||
Treasury Stock | 'Treasury Stock Treasury stock is accounted for using the cost method. | ||||||
Cash and Cash Equivalents | ' | ||||||
Cash and Cash Equivalents | |||||||
All highly liquid investments with maturities of three months or less at the date of purchase are considered to be cash equivalents. | |||||||
Use of Estimates | 'Use of Estimates Preparing financial statements in conformity with generally accepted accounting principles (“GAAP”) requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities as of the dates presented and the reported amounts of revenues and expenses during the periods presented. Significant estimates inherent in the preparation of the accompanying Consolidated Financial Statements include estimates of film ultimate revenues, product returns, allowance for doubtful accounts, potential outcome of uncertain tax positions, fair value of acquired assets and liabilities, fair value of equity-based compensation and pension benefit assumptions. Estimates are based on past experience and other considerations reasonable under the circumstances. Actual results may differ from these estimates. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Tables) | 12 Months Ended | ||||||
Sep. 30, 2013 | |||||||
Earnings Per Share Tables [Abstract] | ' | ||||||
Common Shares Outstanding and Anti-dilutive common shares | ' | ||||||
Year Ended | |||||||
Common Shares Outstanding and Anti-Dilutive Common Shares | September 30, | ||||||
(in millions) | 2013 | 2012 | 2011 | ||||
Weighted average common shares outstanding, basic | 486.2 | 530.7 | 587.3 | ||||
Dilutive effect of equity awards | 8.6 | 6.8 | 7 | ||||
Weighted average common shares outstanding, diluted | 494.8 | 537.5 | 594.3 | ||||
Anti-dilutive common shares | 3.2 | 12.5 | 17.8 | ||||
Property_and_Equipment_Tables
Property and Equipment (Tables) | 12 Months Ended | |||||||
Sep. 30, 2013 | ||||||||
Property Plant And Equipment Net By Type Abstract | ' | |||||||
Property Plant And Equipment (Table) | ' | |||||||
Estimated | ||||||||
Property and Equipment, Net | September 30, | Life | ||||||
(in millions) | 2013 | 2012 | (in years) | |||||
Land | $ | 248 | $ | 250 | - | |||
Buildings | 431 | 398 | up to 40 | |||||
Capital leases | 277 | 286 | up to 15 | |||||
Equipment and other | 1,773 | 1,715 | up to 15 | |||||
Property and equipment | 2,729 | 2,649 | ||||||
Less: Accumulated depreciation | -1,689 | -1,581 | ||||||
Property and equipment, net | $ | 1,040 | $ | 1,068 | ||||
Inventory_Tables
Inventory (Tables) | 12 Months Ended | ||||||
Sep. 30, 2013 | |||||||
Inventory Tables [Abstract] | ' | ||||||
Inventory Balances | ' | ||||||
Inventory | September 30, | ||||||
(in millions) | 2013 | 2012 | |||||
Film inventory: | |||||||
Released, net of amortization | $ | 570 | $ | 612 | |||
Completed, not yet released | 40 | 108 | |||||
In process and other | 653 | 706 | |||||
Total film inventory, net of amortization | 1,263 | 1,426 | |||||
Original programming: | |||||||
Released, net of amortization | 1,343 | 1,414 | |||||
In process and other | 590 | 506 | |||||
Total original programming, net of amortization | 1,933 | 1,920 | |||||
Acquired program rights, net of amortization | 1,391 | 1,557 | |||||
Home entertainment inventory, net of allowance of $75 and $74 | 128 | 134 | |||||
Total inventory, net | 4,715 | 5,037 | |||||
Less current portion | -770 | -832 | |||||
Total inventory-noncurrent, net | $ | 3,945 | $ | 4,205 | |||
Goodwill_and_Intangibles_Table
Goodwill and Intangibles (Tables) | 12 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||
Changes in Goodwill | ' | |||||||||||||||
Goodwill | Media | Filmed | ||||||||||||||
(in millions) | Networks | Entertainment | Total | |||||||||||||
Balance at September 30, 2011 | $ | 9,471 | $ | 1,593 | $ | 11,064 | ||||||||||
Foreign currency translation | -19 | - | -19 | |||||||||||||
Balance at September 30, 2012 | 9,452 | 1,593 | 11,045 | |||||||||||||
Acquisitions | 54 | - | 54 | |||||||||||||
Foreign currency translation | -20 | - | -20 | |||||||||||||
Balance at September 30, 2013 | $ | 9,486 | $ | 1,593 | $ | 11,079 | ||||||||||
Intangible Asset Balances | ' | |||||||||||||||
Intangibles | September 30, | |||||||||||||||
(in millions) | 2013 | 2012 | ||||||||||||||
Finite-lived intangible assets: | ||||||||||||||||
Subscriber agreements | $ | 58 | $ | 65 | ||||||||||||
Film distribution and fulfillment services | 280 | 280 | ||||||||||||||
Other intangible assets | 438 | 413 | ||||||||||||||
Total finite-lived intangible assets | 776 | 758 | ||||||||||||||
Accumulated amortization on finite-lived intangible assets: | ||||||||||||||||
Subscriber agreements | -35 | -33 | ||||||||||||||
Film distribution and fulfillment services | -268 | -233 | ||||||||||||||
Other intangible assets | -249 | -219 | ||||||||||||||
Total accumulated amortization on finite-lived intangible assets | -552 | -485 | ||||||||||||||
Finite-lived intangible assets, net | $ | 224 | $ | 273 | ||||||||||||
Trademarks and other, indefinite-lived | 55 | 55 | ||||||||||||||
Total intangibles, net | $ | 279 | $ | 328 | ||||||||||||
Future Amortization Expense | ' | |||||||||||||||
Amortization of Intangibles | ||||||||||||||||
(in millions) | 2014 | 2015 | 2016 | 2017 | 2018 | |||||||||||
Amortization expense | $ | 36 | $ | 23 | $ | 25 | $ | 25 | $ | 19 |
Debt_Tables
Debt (Tables) | 12 Months Ended | |||||||||||||
Sep. 30, 2013 | ||||||||||||||
Debt Tables [Abstract] | ' | |||||||||||||
Debt Balances | ' | |||||||||||||
Debt | September 30, | |||||||||||||
(in millions) | 2013 | 2012 | ||||||||||||
Senior Notes and Debentures: | ||||||||||||||
Senior notes due September 2014, 4.375% | $ | 599 | $ | 598 | ||||||||||
Senior notes due February 2015, 1.250% | 600 | 599 | ||||||||||||
Senior notes due September 2015, 4.250% | 250 | 250 | ||||||||||||
Senior notes due April 2016, 6.250% | 917 | 916 | ||||||||||||
Senior notes due December 2016, 2.500% | 398 | 398 | ||||||||||||
Senior notes due April 2017, 3.500% | 497 | 497 | ||||||||||||
Senior notes due October 2017, 6.125% | 499 | 498 | ||||||||||||
Senior notes due September 2018, 2.500% | 497 | - | ||||||||||||
Senior notes due September 2019, 5.625% | 552 | 553 | ||||||||||||
Senior notes due March 2021, 4.500% | 494 | 493 | ||||||||||||
Senior notes due December 2021, 3.875% | 592 | 591 | ||||||||||||
Senior notes due June 2022, 3.125% | 296 | 296 | ||||||||||||
Senior notes due March 2023, 3.250% | 298 | - | ||||||||||||
Senior notes due September 2023, 4.250% | 1,237 | - | ||||||||||||
Senior debentures due April 2036, 6.875% | 1,072 | 1,736 | ||||||||||||
Senior debentures due October 2037, 6.750% | 76 | 249 | ||||||||||||
Senior debentures due February 2042, 4.500% | 245 | 245 | ||||||||||||
Senior debentures due March 2043, 4.375% | 1,085 | - | ||||||||||||
Senior debentures due June 2043, 4.875% | 249 | - | ||||||||||||
Senior debentures due September 2043, 5.850% | 1,242 | - | ||||||||||||
Capital lease and other obligations | 190 | 230 | ||||||||||||
Total debt | 11,885 | 8,149 | ||||||||||||
Less current portion | -18 | -18 | ||||||||||||
Total noncurrent portion of debt | $ | 11,867 | $ | 8,131 | ||||||||||
Scheduled Maturities of Debt | ' | |||||||||||||
Maturities of Debt Excluding Capital Leases | After 5 | |||||||||||||
(in millions) | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | Years | ||||||||
Debt | $ | 600 | $ | 898 | $ | 918 | $ | 900 | $ | 1,000 | $ | 7,852 | ||
Pension_Tables
Pension (Tables) | 12 Months Ended | ||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||
Pension Tables [Abstract] | ' | ||||||||||||||||||
Change in Benefit Obligation Rollforward (Table) | ' | ||||||||||||||||||
Year Ended | |||||||||||||||||||
Change in Benefit Obligation | September 30, | ||||||||||||||||||
(in millions) | 2013 | 2012 | |||||||||||||||||
Benefit obligation, beginning of period | $ | 1,139 | $ | 920 | |||||||||||||||
Service cost | 8 | 32 | |||||||||||||||||
Interest cost | 43 | 47 | |||||||||||||||||
Actuarial (gain) / loss | -203 | 180 | |||||||||||||||||
Curtailment gain | -65 | - | |||||||||||||||||
Benefits paid | -29 | -40 | |||||||||||||||||
Benefit obligation, end of period | $ | 893 | $ | 1,139 | |||||||||||||||
Change in Plan Assets (Table) | ' | ||||||||||||||||||
Year Ended | |||||||||||||||||||
Change in Plan Assets | September 30, | ||||||||||||||||||
(in millions) | 2013 | 2012 | |||||||||||||||||
Fair value of plan assets, beginning of period | $ | 576 | $ | 479 | |||||||||||||||
Actual return on plan assets | 85 | 103 | |||||||||||||||||
Employer contributions | 6 | 34 | |||||||||||||||||
Benefits paid | -29 | -40 | |||||||||||||||||
Fair value of plan assets, end of period | $ | 638 | $ | 576 | |||||||||||||||
Funded Status (Table) | ' | ||||||||||||||||||
Funded status | September 30, | ||||||||||||||||||
(in millions) | 2013 | 2012 | |||||||||||||||||
Funded status* | $ | -255 | $ | -563 | |||||||||||||||
* These unfunded amounts are included in Other liabilities – noncurrent in the Consolidated Balance Sheets. | |||||||||||||||||||
Accumulated Benefit Obligation (Table) | ' | ||||||||||||||||||
Funded Plans | Unfunded Plans | Total Plans | |||||||||||||||||
Accumulated Benefit Obligation | September 30, | September 30, | September 30, | ||||||||||||||||
(in millions) | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | |||||||||||||
Accumulated benefit obligation | $ | 641 | $ | 787 | $ | 252 | $ | 291 | $ | 893 | $ | 1,078 | |||||||
Projected benefit obligation | 641 | 848 | 252 | 291 | 893 | 1,139 | |||||||||||||
Fair value of plan assets | 638 | 576 | - | - | 638 | 576 | |||||||||||||
Funded Status | $ | -3 | $ | -272 | $ | -252 | $ | -291 | $ | -255 | $ | -563 | |||||||
Net Periodic Benefit Costs (Table) | ' | ||||||||||||||||||
Year Ended | |||||||||||||||||||
Net Periodic Benefit Costs | September 30, | ||||||||||||||||||
(in millions) | 2013 | 2012 | 2011 | ||||||||||||||||
Service cost | $ | 8 | $ | 32 | $ | 29 | |||||||||||||
Interest cost | 43 | 47 | 44 | ||||||||||||||||
Expected return on plan assets | -45 | -37 | -39 | ||||||||||||||||
Recognized actuarial loss | 9 | 19 | 15 | ||||||||||||||||
Prior service cost | 1 | - | - | ||||||||||||||||
Net periodic benefit costs | $ | 16 | $ | 61 | $ | 49 | |||||||||||||
Unrecognized Pension Cost (Income) (Table) | ' | ||||||||||||||||||
Year Ended | |||||||||||||||||||
Unrecognized Benefit Cost | September 30, | ||||||||||||||||||
(in millions) | 2013 | 2012 | |||||||||||||||||
Unrecognized actuarial loss | $ | 110 | $ | 427 | |||||||||||||||
Unrecognized prior service cost | - | 1 | |||||||||||||||||
Total* | $ | 110 | $ | 428 | |||||||||||||||
*The amount expected to be recognized in net periodic benefit cost in 2014 is immaterial. | |||||||||||||||||||
Amounts Recognized in Other Comprehensive Income Table | ' | ||||||||||||||||||
Other Comprehensive Income | Year Ended | ||||||||||||||||||
(in millions) | 30-Sep-13 | ||||||||||||||||||
Net actuarial gain | $ | -308 | |||||||||||||||||
Recognized actuarial loss | -9 | ||||||||||||||||||
Prior service cost | -1 | ||||||||||||||||||
Total pretax gain | $ | -318 | |||||||||||||||||
Key Assumptions (Table) | ' | ||||||||||||||||||
Year Ended | |||||||||||||||||||
September 30, | |||||||||||||||||||
Key Assumptions | 2013 | 2012 | |||||||||||||||||
Weighted-average assumptions - benefit obligations | |||||||||||||||||||
Discount rate | 5.25 | % | 4.06 | % | |||||||||||||||
Rate of compensation increase* | % | 4 | % | ||||||||||||||||
Weighted-average assumptions - net periodic costs | |||||||||||||||||||
Discount rate | 3.91 | % | 5.3 | % | |||||||||||||||
Expected long-term return on plan assets | 8 | % | 8 | % | |||||||||||||||
Rate of compensation increase | 4 | % | 4 | % | |||||||||||||||
* The rate of increase in compensation level assumption was not applicable in 2013 due to the freeze of the pension plans. | |||||||||||||||||||
Asset Allocations of Funded Pension Plan (Table) | ' | ||||||||||||||||||
September 30, | |||||||||||||||||||
Asset Allocations of Funded Pension Plan | 2013 | 2012 | |||||||||||||||||
Equity securities | 71 | % | 69 | % | |||||||||||||||
Debt securities | 29 | 31 | |||||||||||||||||
Total | 100 | % | 100 | % | |||||||||||||||
Fair Value of Plan Assets at Period End (Table) | ' | ||||||||||||||||||
Fair Value of Plan Assets | September 30, | ||||||||||||||||||
(in millions) | 2013 | 2012 | |||||||||||||||||
Equity Securities | |||||||||||||||||||
Viacom B common stock | $ | 22 | $ | 14 | |||||||||||||||
U.S. large cap | 201 | 185 | |||||||||||||||||
U.S. small / mid cap | 80 | 67 | |||||||||||||||||
World ex-U.S. | 148 | 130 | |||||||||||||||||
Debt Securities | |||||||||||||||||||
Emerging markets | 26 | 28 | |||||||||||||||||
High yield | 52 | 51 | |||||||||||||||||
Core fixed income | 109 | - | |||||||||||||||||
Long duration | - | 101 | |||||||||||||||||
Total | $ | 638 | $ | 576 | |||||||||||||||
Future Benefit Payments (Table) | ' | ||||||||||||||||||
Future Benefit Payments | |||||||||||||||||||
(in millions) | 2014 | 2015 | 2016 | 2017 | 2018 | 2019-2023 | |||||||||||||
Pension benefits | $34 | $36 | $38 | $41 | $44 | $253 |
EquityBased_Compensation_Table
Equity-Based Compensation (Tables) | 12 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Equity Based Compensation (Table) [Abstract] | ' | |||||||||||||||
Compensation Cost Recognized in Earnings Table | ' | |||||||||||||||
Year Ended | ||||||||||||||||
Equity-Based Compensation Expense | September 30, | |||||||||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||||||||
Recognized in earnings: | ||||||||||||||||
Stock options | $ | 42 | $ | 41 | $ | 45 | ||||||||||
RSUs, PSUs and PRSUs | 86 | 81 | 83 | |||||||||||||
Total compensation cost in earnings | $ | 128 | $ | 122 | $ | 128 | ||||||||||
Tax benefit recognized | $ | 41 | $ | 39 | $ | 42 | ||||||||||
Capitalized equity-based compensation expense | $ | 6 | $ | 10 | $ | 6 | ||||||||||
Weighted Average Fair Value of Awards and Assumptions Table | ' | |||||||||||||||
Year Ended | ||||||||||||||||
September 30, | ||||||||||||||||
Key Assumptions | 2013 | 2012 | 2011 | |||||||||||||
Weighted average fair value of grants | $ | 13.02 | $ | 10.17 | $ | 11.01 | ||||||||||
Weighted average assumptions: | ||||||||||||||||
Expected stock price volatility | 25.7 | % | 30.7 | % | 28.3 | % | ||||||||||
Expected term of options (in years) | 4.7 | 5 | 5.3 | |||||||||||||
Risk-free interest rate | 0.8 | % | 0.8 | % | 1.8 | % | ||||||||||
Expected dividend yield | 1.7 | % | 2.3 | % | 2 | |||||||||||
Stock Options Transactions Table | ' | |||||||||||||||
Year Ended | Year Ended | Year Ended | ||||||||||||||
30-Sep-13 | 30-Sep-12 | 30-Sep-11 | ||||||||||||||
Weighted | Weighted | Weighted | ||||||||||||||
average | average | average | ||||||||||||||
Stock Options | exercise | exercise | exercise | |||||||||||||
(number of options in thousands) | Options | price | Options | price | Options | price | ||||||||||
Outstanding at the beginning of the period | 29,269.50 | $ | 40.22 | 35,375.70 | $ | 40.91 | 38,140.60 | $ | 41.13 | |||||||
Granted | 2,363.30 | 69.56 | 3,110.00 | 47.37 | 4,028.00 | 49.17 | ||||||||||
Exercised | -9,792.10 | 41.23 | -6,398.80 | 41.94 | -4,288.50 | 38.23 | ||||||||||
Forfeited or expired | -398.8 | 47.61 | -2,817.40 | 52.94 | -2,504.40 | 62.1 | ||||||||||
Outstanding at the end of the period | 21,441.90 | $ | 42.85 | 29,269.50 | $ | 40.22 | 35,375.70 | $ | 40.91 | |||||||
Exercisable at the end of the period | 13,024.60 | $ | 37.43 | 19,004.60 | $ | 39.32 | 23,866.90 | $ | 42.3 | |||||||
Stock Option Exercises Table | ' | |||||||||||||||
Year Ended | ||||||||||||||||
Stock Option Exercises | September 30, | |||||||||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||||||||
Proceeds from stock option exercises | $ | 403 | $ | 268 | $ | 164 | ||||||||||
Intrinsic value | $ | 270 | $ | 51 | $ | 41 | ||||||||||
Tax benefit - excess/ (shortfall) | $ | 77 | $ | - | $ | -1 | ||||||||||
Summary of activity related to RSUs PSUs and PRSUs | ' | |||||||||||||||
Year Ended | Year Ended | Year Ended | ||||||||||||||
30-Sep-13 | 30-Sep-12 | 30-Sep-11 | ||||||||||||||
Weighted | Weighted | Weighted | ||||||||||||||
average | average | average | ||||||||||||||
Number | grant | Number | grant | Number | grant | |||||||||||
RSUs, PSUs and PRSUs | of | date fair | of | date fair | of | date fair | ||||||||||
(number of shares in thousands) | shares | value | shares | value | shares | value | ||||||||||
Unvested at the beginning of the period | 5,721.50 | $ | 44.22 | 7,200.70 | $ | 38.58 | 7,729.20 | $ | 35.03 | |||||||
Granted* | 1,750.20 | 62.51 | 2,846.50 | 45.02 | 1,979.40 | 53.43 | ||||||||||
Vested | -3,005.20 | 41.49 | -4,028.40 | 35.27 | -2,076.10 | 40.97 | ||||||||||
Forfeited | -155.1 | 44.33 | -297.3 | 36.62 | -431.8 | 31.63 | ||||||||||
Unvested at the end of the period | 4,311.40 | $ | 53.54 | 5,721.50 | $ | 44.22 | 7,200.70 | $ | 38.58 | |||||||
*Grant activity includes 0.2 million, 0.3 million and 0.5 million of performance-based share units at target for 2013, 2012 and 2011, respectively. |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||||
Sep. 30, 2013 | |||||||
Noncanceable Lease Commitments Disclosure [Abstract] | ' | ||||||
Noncancelable Lease Commitments [Text Block] | ' | ||||||
Noncancelable Lease Commitments | |||||||
(in millions) | Capital | Operating | |||||
2014 | $ | 25 | $ | 193 | |||
2015 | 26 | 174 | |||||
2016 | 26 | 154 | |||||
2017 | 25 | 135 | |||||
2018 | 25 | 119 | |||||
2019 and thereafter | 43 | 937 | |||||
Total minimum payments | $ | 170 | $ | 1,712 | |||
Amounts representing interest | -27 | ||||||
Total | $ | 143 | |||||
Stockholders_Equity_Tables
Stockholders' Equity (Tables) | 12 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Viacom Stockholders' equity | ' | |||||||||
Schedule Of Accumulated Other Comprehensive Income Table [Text Block] | ' | |||||||||
Accumulated Other Comprehensive Loss | September 30, | |||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||
Foreign currency translation adjustments | $ | -20 | $ | 19 | $ | 61 | ||||
Defined benefit pension plans | -82 | -272 | -209 | |||||||
Cash flow hedges | 1 | -8 | -14 | |||||||
Available for sale securities | - | -3 | -2 | |||||||
Total | $ | -101 | $ | -264 | $ | -164 | ||||
Restructuring_and_Other_Charge1
Restructuring and Other Charges (Tables) | 12 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Restructuring And Related Activities [Abstract] | ' | |||||||||
Schedule Of Restructuring Reserve By Type Of Cost Text Block | ' | |||||||||
2013 Restructuring and Other Charges | Media | Filmed | ||||||||
(in millions) | Networks | Entertainment | Total | |||||||
Severance charges | $ | 61 | $ | 25 | $ | 86 | ||||
Asset impairment | 7 | - | 7 | |||||||
Restructuring | 68 | 25 | 93 | |||||||
Programming inventory | 13 | - | 13 | |||||||
Total | $ | 81 | $ | 25 | $ | 106 | ||||
Restructuring Liability | Media | Filmed | ||||||||
(in millions) | Networks | Entertainment | Total | |||||||
30-Sep-10 | $ | 4 | $ | 9 | $ | 13 | ||||
Additions | 82 | 44 | 126 | |||||||
Severance payments | -3 | -9 | -12 | |||||||
Revisions to initial estimates | -3 | - | -3 | |||||||
30-Sep-11 | 80 | 44 | 124 | |||||||
Severance payments | -39 | -31 | -70 | |||||||
Lease payments | -3 | -4 | -7 | |||||||
30-Sep-12 | 38 | 9 | 47 | |||||||
Additions | 61 | 25 | 86 | |||||||
Severance payments | -20 | -7 | -27 | |||||||
Lease payments | -3 | - | -3 | |||||||
30-Sep-13 | $ | 76 | $ | 27 | $ | 103 | ||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Income Tax [Abstract] | ' | |||||||||
Pre-tax Earnings from Continuing Operations (Tables) | ' | |||||||||
Year Ended | ||||||||||
Pre-tax Earnings from Continuing Operations | September 30, | |||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||
United States | $ | 3,040 | $ | 2,984 | $ | 2,749 | ||||
International | 479 | 486 | 496 | |||||||
Pre-tax earnings from continuing operations | $ | 3,519 | $ | 3,470 | $ | 3,245 | ||||
Provision for Income Taxes from Continuing Operations (Tables) | ' | |||||||||
Year Ended | ||||||||||
Provision for Income Taxes from Continuing Operations | September 30, | |||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||
Current provision for income taxes: | ||||||||||
Federal | $ | 401 | $ | 872 | $ | 453 | ||||
State and local | 23 | 117 | 53 | |||||||
International | 152 | 183 | 180 | |||||||
Total current provision for income taxes | 576 | 1,172 | 686 | |||||||
Deferred provision for income taxes | 494 | -87 | 376 | |||||||
Provision for income taxes | $ | 1,070 | $ | 1,085 | $ | 1,062 | ||||
Effective Tax Rate (Tables) | ' | |||||||||
Year Ended | ||||||||||
September 30, | ||||||||||
Effective Tax Rate | 2013 | 2012 | 2011 | |||||||
U.S. federal statutory income tax rate | 35 | % | 35 | % | 35 | % | ||||
State and local taxes, net of federal benefit | 2.2 | 2.2 | 2.6 | |||||||
Effect of international operations | -2.6 | -0.8 | -2 | |||||||
Audit settlements | -1.3 | -1.4 | -2 | |||||||
Qualified production activities deduction | -2.1 | -3 | -2.5 | |||||||
Change in valuation allowance | -1.8 | -1.4 | - | |||||||
All other, net | 1 | 0.7 | 1.6 | |||||||
Effective tax rate, continuing operations | 30.4 | % | 31.3 | % | 32.7 | % | ||||
Deferred Tax Assets & Liabilities, net (Tables) | ' | |||||||||
Deferred Taxes | September 30, | |||||||||
(in millions) | 2013 | 2012 | ||||||||
Deferred tax assets: | ||||||||||
Accrued liabilities | $ | 199 | $ | 332 | ||||||
Postretirement and other employee benefits | 294 | 394 | ||||||||
Tax credit and loss carryforwards | 274 | 216 | ||||||||
All other | 188 | 219 | ||||||||
Total deferred tax assets | 955 | 1,161 | ||||||||
Valuation allowance | -277 | -324 | ||||||||
Total deferred tax assets, net* | $ | 678 | $ | 837 | ||||||
Deferred tax liabilities: | ||||||||||
Property, equipment and intangible assets | $ | -436 | $ | -415 | ||||||
Unbilled revenue | -133 | -105 | ||||||||
Financing obligations | -120 | - | ||||||||
Film & TV production expenditures | -535 | -254 | ||||||||
Total deferred tax liabilities | -1,224 | -774 | ||||||||
Deferred taxes, net | $ | -546 | $ | 63 | ||||||
*Includes $45 million noncurrent deferred tax assets, net reflected within Other assets - noncurrent in the Consolidated Balance Sheet as of September 30, 2013. | ||||||||||
Unrecognized Tax Benefits (Tables) | ' | |||||||||
Year Ended | ||||||||||
Unrecognized Tax Benefits | September 30, | |||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||
Balance at beginning of the period | $ | 207 | $ | 212 | $ | 304 | ||||
Gross additions based on tax positions related to the current year | 29 | 28 | 17 | |||||||
Gross additions for tax positions of prior years | 5 | 24 | 3 | |||||||
Gross reductions for tax positions of prior years | -50 | -44 | -97 | |||||||
Settlements | -25 | -2 | -11 | |||||||
Expiration of the statute of limitation | -7 | -11 | -4 | |||||||
Balance at end of the period | $ | 159 | $ | 207 | $ | 212 | ||||
Supplemental_Cash_Flow_and_Oth1
Supplemental Cash Flow and Other Information (Tables) | 12 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Supplemental Cash Flow Tables [Abstract] | ' | |||||||||
Supplemental Cash Flow Information (Tables) | ' | |||||||||
Year Ended | ||||||||||
Supplemental Cash Flow Information | September 30, | |||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||
Cash paid for interest* | $ | 475 | $ | 409 | $ | 420 | ||||
Cash paid for income taxes | $ | 463 | $ | 1,069 | $ | 1,050 | ||||
*Includes cash payments related to discontinued operations of $28 million and $3 million in 2013 and 2012, respectively. | ||||||||||
Redeemable Noncontrolling Interest | ' | |||||||||
Year Ended | ||||||||||
Redeemable Noncontrolling Interest | September 30, | |||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||
Beginning balance | $ | 179 | $ | 152 | $ | 131 | ||||
Net earnings | 14 | 16 | 12 | |||||||
Distributions | -13 | -16 | -12 | |||||||
Translation adjustment | -4 | 7 | -1 | |||||||
Redemption value adjustment | 24 | 20 | 22 | |||||||
Ending balance | $ | 200 | $ | 179 | $ | 152 | ||||
Interest Expense, net | ' | |||||||||
Year Ended | ||||||||||
Interest Expense, net | September 30, | |||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||
Interest expense | $ | -468 | $ | -425 | $ | -419 | ||||
Interest income | 4 | 8 | 7 | |||||||
Interest expense, net | $ | -464 | $ | -417 | $ | -412 | ||||
Other Items, net | ' | |||||||||
Year Ended | ||||||||||
Other Items, net | September 30, | |||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||
Gain on sale of HBO Pacific Partners and LAPTV | $ | 111 | $ | - | $ | - | ||||
Other investment gains | 46 | - | - | |||||||
Impairment of investment | -23 | - | - | |||||||
Foreign exchange loss | -23 | -8 | -4 | |||||||
Other gains/(losses) | -5 | 3 | -2 | |||||||
Other items, net | $ | 106 | $ | -5 | $ | -6 | ||||
Reporting_Segments_Tables
Reporting Segments (Tables) | 12 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Reporting Segments Tables [Abstract] | ' | |||||||||
Revenues by Segment | ' | |||||||||
Year Ended | ||||||||||
Revenues by Segment | September 30, | |||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||
Media Networks | $ | 9,656 | $ | 9,194 | $ | 9,145 | ||||
Filmed Entertainment | 4,282 | 4,820 | 5,923 | |||||||
Eliminations | -144 | -127 | -154 | |||||||
Total revenues | $ | 13,794 | $ | 13,887 | $ | 14,914 | ||||
Adjusted Operating Income (Loss) | ' | |||||||||
Year Ended | ||||||||||
Adjusted Operating Income | September 30, | |||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||
Media Networks | $ | 4,096 | $ | 3,889 | $ | 3,848 | ||||
Filmed Entertainment | 234 | 325 | 341 | |||||||
Corporate expenses | -251 | -192 | -207 | |||||||
Equity-based compensation | -128 | -122 | -128 | |||||||
Eliminations | -9 | 1 | - | |||||||
Restructuring and other charges | -106 | - | -144 | |||||||
Operating income | 3,836 | 3,901 | 3,710 | |||||||
Interest expense, net | -464 | -417 | -412 | |||||||
Equity in net earnings (losses) of investee companies | 41 | 12 | 40 | |||||||
Loss on extinguishment of debt | - | -21 | -87 | |||||||
Other items, net | 106 | -5 | -6 | |||||||
Earnings from continuing operations before provision for income taxes | $ | 3,519 | $ | 3,470 | $ | 3,245 | ||||
Revenues by Component | ' | |||||||||
Year Ended | ||||||||||
Revenues by Component | September 30, | |||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||
Advertising | $ | 4,855 | $ | 4,756 | $ | 4,997 | ||||
Feature film | 3,742 | 4,366 | 5,482 | |||||||
Affiliate fees | 4,245 | 3,889 | 3,519 | |||||||
Ancillary | 1,096 | 1,003 | 1,070 | |||||||
Eliminations | -144 | -127 | -154 | |||||||
Total revenues | $ | 13,794 | $ | 13,887 | $ | 14,914 | ||||
Capital Expenditure | ' | |||||||||
Year Ended | ||||||||||
Capital Expenditures | September 30, | |||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||
Media Networks | $ | 103 | $ | 101 | $ | 96 | ||||
Filmed Entertainment | 53 | 46 | 55 | |||||||
Corporate | 4 | 7 | 4 | |||||||
Total capital expenditures | $ | 160 | $ | 154 | $ | 155 | ||||
Related_Party_Transactions_Tab
Related Party Transactions (Tables) | 12 Months Ended | |||||||||
Sep. 30, 2013 | ||||||||||
Related Party Transactions Table [Abstract] | ' | |||||||||
Related Persons Transactions (Tables) | ' | |||||||||
Year Ended | ||||||||||
Other Related Party Transactions | September 30, | |||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||
Consolidated Statements of Earnings | ||||||||||
Revenues | $ | 216 | $ | 309 | $ | 239 | ||||
Operating expenses | $ | 63 | $ | 120 | $ | 83 | ||||
Selling, general and administrative | $ | -17 | $ | -16 | $ | -16 | ||||
September 30, | ||||||||||
2013 | 2012 | |||||||||
Consolidated Balance Sheets | ||||||||||
Accounts receivable | $ | 84 | $ | 114 | ||||||
Other assets | 1 | 3 | ||||||||
Total due from other related parties | $ | 85 | $ | 117 | ||||||
Accounts payable | $ | 4 | $ | 8 | ||||||
Other liabilities | 26 | 17 | ||||||||
Total due to other related parties | $ | 30 | $ | 25 | ||||||
Related Parties Transactions (Tables) | ' | |||||||||
Year Ended | ||||||||||
CBS Related Party Transactions | September 30, | |||||||||
(in millions) | 2013 | 2012 | 2011 | |||||||
Consolidated Statements of Earnings | ||||||||||
Revenues | $ | 264 | $ | 285 | $ | 341 | ||||
Operating expenses | $ | 327 | $ | 347 | $ | 434 | ||||
September 30, | ||||||||||
2013 | 2012 | |||||||||
Consolidated Balance Sheets | ||||||||||
Accounts receivable | $ | 5 | $ | 7 | ||||||
Other assets | - | 1 | ||||||||
Total due from CBS | $ | 5 | $ | 8 | ||||||
Accounts payable | $ | 3 | $ | 1 | ||||||
Participants' share and residuals, current | 115 | 143 | ||||||||
Program rights obligations, current | 99 | 110 | ||||||||
Program rights obligations, noncurrent | 139 | 169 | ||||||||
Other liabilities | 15 | 24 | ||||||||
Total due to CBS | $ | 371 | $ | 447 | ||||||
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 12 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Discontinued Operations Tables [Abstract] | ' | ||||||||
Discontinued Operations | ' | ||||||||
Discontinued Operations | |||||||||
(in millions) | Harmonix | All Other | Total | ||||||
Year ended September 30, 2013 | |||||||||
Pre-tax earnings (losses) from discontinued operations | $ | -19 | $ | - | $ | -19 | |||
Income tax benefit | 7 | - | 7 | ||||||
Net earnings (losses) from discontinued operations | $ | -12 | $ | - | $ | -12 | |||
Year ended September 30, 2012 | |||||||||
Pre-tax earnings (losses) from discontinued operations | $ | -398 | $ | 8 | $ | -390 | |||
Income tax benefit (provision) | 21 | 5 | 26 | ||||||
Net earnings (losses) from discontinued operations | $ | -377 | $ | 13 | $ | -364 | |||
Year ended September 30, 2011 | |||||||||
Revenues from discontinued operations | $ | 49 | $ | - | $ | 49 | |||
Pre-tax earnings (losses) from discontinued operations | $ | -31 | $ | 8 | $ | -23 | |||
Income tax benefit (provision) | 15 | -2 | 13 | ||||||
Net earnings (losses) from discontinued operations | $ | -16 | $ | 6 | $ | -10 | |||
Quarterly_Financial_Data_Unaud1
Quarterly Financial Data Unaudited (Tables) | 12 Months Ended | |||||||||||||||
Sep. 30, 2013 | ||||||||||||||||
Quarterly Financial Data Tables [Abstract] | ' | |||||||||||||||
Quarterly Financial Information Text Block | ' | |||||||||||||||
NOTE 19. QUARTERLY FINANCIAL DATA (unaudited): | ||||||||||||||||
2013 | Year Ended | |||||||||||||||
(in millions, except per share information) | First | Second | Third | Fourth | 30-Sep-13 | |||||||||||
Revenues | $ | 3,314 | $ | 3,135 | $ | 3,693 | $ | 3,652 | $ | 13,794 | ||||||
Operating income | $ | 797 | $ | 847 | $ | 1,085 | $ | 1,107 | $ | 3,836 | ||||||
Net earnings from continuing operations (Viacom and noncontrolling interests) | $ | 482 | $ | 489 | $ | 666 | $ | 812 | $ | 2,449 | ||||||
Net earnings (Viacom and noncontrolling interests) | $ | 479 | $ | 486 | $ | 662 | $ | 810 | $ | 2,437 | ||||||
Net earnings from continuing operations attributable to Viacom | $ | 473 | $ | 481 | $ | 647 | $ | 806 | $ | 2,407 | ||||||
Net earnings attributable to Viacom | $ | 470 | $ | 478 | $ | 643 | $ | 804 | $ | 2,395 | ||||||
Basic net earnings per share, continuing operations attributable to Viacom | $ | 0.94 | $ | 0.98 | $ | 1.34 | $ | 1.72 | $ | 4.95 | ||||||
Basic net earnings per share attributable to Viacom | $ | 0.94 | $ | 0.97 | $ | 1.33 | $ | 1.72 | $ | 4.93 | ||||||
Diluted net earnings per share, continuing operations attributable to Viacom | $ | 0.93 | $ | 0.96 | $ | 1.32 | $ | 1.69 | $ | 4.86 | ||||||
Diluted net earnings per share attributable to Viacom | $ | 0.92 | $ | 0.96 | $ | 1.31 | $ | 1.68 | $ | 4.84 | ||||||
2012 | Year Ended | |||||||||||||||
(in millions, except per share information) | First | Second | Third | Fourth | 30-Sep-12 | |||||||||||
Revenues | $ | 3,952 | $ | 3,331 | $ | 3,241 | $ | 3,363 | $ | 13,887 | ||||||
Operating income | $ | 1,016 | $ | 932 | $ | 903 | $ | 1,050 | $ | 3,901 | ||||||
Net earnings from continuing operations (Viacom and noncontrolling interests) | $ | 601 | $ | 599 | $ | 536 | $ | 649 | $ | 2,385 | ||||||
Net earnings (Viacom and noncontrolling interests) | $ | 222 | $ | 596 | $ | 547 | $ | 656 | $ | 2,021 | ||||||
Net earnings from continuing operations attributable to Viacom | $ | 591 | $ | 588 | $ | 523 | $ | 643 | $ | 2,345 | ||||||
Net earnings attributable to Viacom | $ | 212 | $ | 585 | $ | 534 | $ | 650 | $ | 1,981 | ||||||
Basic net earnings per share, continuing operations attributable to Viacom | $ | 1.07 | $ | 1.09 | $ | 1 | $ | 1.26 | $ | 4.42 | ||||||
Basic net earnings per share attributable to Viacom | $ | 0.39 | $ | 1.09 | $ | 1.02 | $ | 1.27 | $ | 3.73 | ||||||
Diluted net earnings per share, continuing operations attributable to Viacom | $ | 1.06 | $ | 1.08 | $ | 0.99 | $ | 1.24 | $ | 4.36 | ||||||
Diluted net earnings per share attributable to Viacom | $ | 0.38 | $ | 1.07 | $ | 1.01 | $ | 1.26 | $ | 3.69 | ||||||
Schedule_ll_Tables
Schedule ll (Tables) | 12 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Schedule ll Disclosure [Abstract] | ' | ||||||||||||
Schedule Of Valuation And Qualifying Accounts Disclosure Table [Text Block] | ' | ||||||||||||
Beginning of | Additions - expense | ||||||||||||
(in millions) | period | and other | Deductions | End of period | |||||||||
Year ended September 30, 2013: | |||||||||||||
Allowance for doubtful accounts | $ | 36 | $ | 8 | $ | -11 | $ | 33 | |||||
Sales returns and allowances | $ | 282 | $ | 503 | $ | -524 | $ | 261 | |||||
Inventory obsolescence reserves | $ | 74 | $ | 3 | $ | -2 | $ | 75 | |||||
Deferred tax valuation allowance | $ | 324 | $ | 75 | $ | -122 | $ | 277 | |||||
Year ended September 30, 2012: | |||||||||||||
Allowance for doubtful accounts | $ | 49 | $ | 6 | $ | -19 | $ | 36 | |||||
Sales returns and allowances | $ | 309 | $ | 595 | $ | -622 | $ | 282 | |||||
Inventory obsolescence reserves | $ | 73 | $ | 11 | $ | -10 | $ | 74 | |||||
Deferred tax valuation allowance | $ | 222 | $ | 161 | $ | -59 | $ | 324 | |||||
Year ended September 30, 2011: | |||||||||||||
Allowance for doubtful accounts | $ | 76 | $ | 9 | $ | -36 | $ | 49 | |||||
Sales returns and allowances | $ | 254 | $ | 693 | $ | -638 | $ | 309 | |||||
Inventory obsolescence reserves | $ | 73 | $ | 20 | $ | -20 | $ | 73 | |||||
Deferred tax valuation allowance | $ | 144 | $ | 94 | $ | -16 | $ | 222 |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Common Shares Outstanding and Anti-dilutive Common Shares [Abstract] | ' | ' | ' |
Weighted average number of common shares outstanding, basic | 486.2 | 530.7 | 587.3 |
Dilutive effect of equity-based compensation awards | 8.6 | 6.8 | 7 |
Weighted average number of common shares outstanding, diluted | 494.8 | 537.5 | 594.3 |
Anti-dilutive common shares | 3.2 | 12.5 | 17.8 |
Advertising expense incurred by the Company | $1,117 | $1,205 | $1,479 |
Allowance for doubtful accounts | 33 | 36 | ' |
Reserve for sales returns and allowances | $261 | $282 | ' |
Finite Lived Intangible Asset Useful Life | 'up to 20 years | ' | ' |
Investments_Details
Investments (Details) (USD $) | 3 Months Ended | 12 Months Ended | |
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 |
Investment in Acq and Investments [Abstract] | ' | ' | ' |
Value of equity method investments | $164 | $164 | $197 |
Value of cost investments | 61 | 61 | 79 |
Viacom 18 future funding commitment | ' | 15 | ' |
Viacom 18 Bank debt guarantee | ' | 70 | ' |
Unconsolidated VIE asset carrying value | ' | 148 | 143 |
Consolidated VIE assets | 77 | 77 | 44 |
Consolidated VIE liabilities | 56 | 56 | 86 |
Aggregate total proceeds from sale of equity investments | $124 | ' | ' |
Viacom 18 [Member] | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Equity interest in investees | 50.00% | 50.00% | ' |
EPIX [Member] | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Equity interest in investees | 50.00% | 50.00% | ' |
HBO Pacific Partners [Member] | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Equity interest in investees | 20.00% | 20.00% | ' |
LAPTV [Member] | ' | ' | ' |
Schedule of Equity Method Investments [Line Items] | ' | ' | ' |
Equity interest in investees | 22.50% | 22.50% | ' |
Property_and_Equipment_Details
Property and Equipment (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Property Plant And Equipment Abstract | ' | ' | ' |
Depreciation expense | $174 | $171 | $189 |
Amortization of capital leases | 21 | 25 | 32 |
Accumulated amortization of capital leases | 148 | 134 | ' |
Property Plant And Equipment [Line Items] | ' | ' | ' |
Property and equipment - gross | 2,729 | 2,649 | ' |
Accumulated depreciation | -1,689 | -1,581 | ' |
Property and equipment - net | 1,040 | 1,068 | ' |
Land Member | ' | ' | ' |
Property Plant And Equipment [Line Items] | ' | ' | ' |
Property and equipment - gross | 248 | 250 | ' |
Building Member | ' | ' | ' |
Property Plant And Equipment [Line Items] | ' | ' | ' |
Property and equipment - gross | 431 | 398 | ' |
Range of estimated useful lives | 'up to 40 | ' | ' |
Assets Held Under Capital Leases Member | ' | ' | ' |
Property Plant And Equipment [Line Items] | ' | ' | ' |
Property and equipment - gross | 277 | 286 | ' |
Range of estimated useful lives | 'up to 15 | ' | ' |
Equipment And Other Member | ' | ' | ' |
Property Plant And Equipment [Line Items] | ' | ' | ' |
Property and equipment - gross | $1,773 | $1,715 | ' |
Range of estimated useful lives | 'up to 15 | ' | ' |
Inventory_Details
Inventory (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2012 |
Inventory Net [Line Items] | ' | ' | ' |
Released,O P net of amortization | ' | $1,343,000,000 | $1,414,000,000 |
In process and other OP | ' | 590,000,000 | 506,000,000 |
Released, Theatrical Film Costs net of amortization | ' | 570,000,000 | 612,000,000 |
Completed, Theatrical Film Costs not yet released | ' | 40,000,000 | 108,000,000 |
In process and other Theatrical Film Costs | ' | 653,000,000 | 706,000,000 |
Acquired program rights, net of amortization | ' | 1,391,000,000 | 1,557,000,000 |
Home entertainment inventory, net of allowances of $75 and $74 | ' | 128,000,000 | 134,000,000 |
Total inventory, net | ' | 4,715,000,000 | 5,037,000,000 |
Less current portion | ' | -770,000,000 | -832,000,000 |
Total inventory - noncurrent, net | ' | 3,945,000,000 | 4,205,000,000 |
Amount of OP and FI expected to be amortized in following fiscal year | 1,100,000,000 | ' | ' |
Percentage of amortization of unamortized released OP and FI within 3 years | ' | 86.00% | ' |
Amount of unamortized film libraries at year-end within 3 years. | ' | 76,000,000 | ' |
Unamortized inventory in years | ' | 'within the next three years remaining life of three years | ' |
Inventory Valuation Reserves | ' | 75,000,000 | 74,000,000 |
Film Inventory [Member] | ' | ' | ' |
Inventory Net [Line Items] | ' | ' | ' |
Total inventory, net of amortization | ' | 1,263,000,000 | 1,426,000,000 |
Original Programming [Member] | ' | ' | ' |
Inventory Net [Line Items] | ' | ' | ' |
Total inventory, net of amortization | ' | $1,933,000,000 | $1,920,000,000 |
Goodwill_and_Intangibles_Detai
Goodwill and Intangibles (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Finite Lived Intangible Assets Future Amortization Expense Abstract | ' | ' | ' |
2014 | $36 | ' | ' |
2015 | 23 | ' | ' |
2016 | 25 | ' | ' |
2017 | 25 | ' | ' |
2018 | 19 | ' | ' |
Finite Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite lived intangible assets - gross | 776 | 758 | ' |
Finite lived intangible assets - accumulated amortization | -552 | -485 | ' |
Finite lived intangible assets, net | 224 | 273 | ' |
Trademarks and other, indefinite lived | 55 | 55 | ' |
Total intangibles, net | 279 | 328 | ' |
CY amortization expense | 63 | 63 | 82 |
Goodwill [Line Items] | ' | ' | ' |
Foreign currency translation | -20 | -19 | ' |
Acquisitions | 54 | ' | ' |
Ending balance | 11,079 | 11,045 | 11,064 |
Media Network [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Foreign currency translation | -20 | -19 | ' |
Acquisitions | 54 | ' | ' |
Ending balance | 9,486 | 9,452 | 9,471 |
Filmed Entertainment [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Foreign currency translation | 0 | 0 | ' |
Acquisitions | 0 | ' | ' |
Ending balance | 1,593 | 1,593 | 1,593 |
Subscriber Agreements [Member] | ' | ' | ' |
Finite Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite lived intangible assets - gross | 58 | 65 | ' |
Finite lived intangible assets - accumulated amortization | -35 | -33 | ' |
Film Distribution And Fulfillment Services [Member] | ' | ' | ' |
Finite Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite lived intangible assets - gross | 280 | 280 | ' |
Finite lived intangible assets - accumulated amortization | -268 | -233 | ' |
Other Intangible Assets [Member] | ' | ' | ' |
Finite Lived Intangible Assets [Line Items] | ' | ' | ' |
Finite lived intangible assets - gross | 438 | 413 | ' |
Finite lived intangible assets - accumulated amortization | ($249) | ($219) | ' |
Debt_Details
Debt (Details) (USD $) | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Aug. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Nov. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Nov. 30, 2012 | Sep. 30, 2013 | Nov. 10, 2012 | Sep. 30, 2013 | Nov. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Aug. 31, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Mar. 31, 2013 | Nov. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Aug. 31, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Nov. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Mar. 31, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Aug. 31, 2013 | Sep. 30, 2012 | |
Senior Notes Sept 2014 [Member] | Senior Notes Sept 2014 [Member] | Senior Notes Feb 2015 [Member] | Senior Notes Feb 2015 [Member] | Senior Notes Sept 2015 [Member] | Senior Notes Sept 2015 [Member] | Senior Notes April 2016 [Member] | Senior Notes April 2016 [Member] | Senior Notes Dec 2016 [Member] | Senior Notes Dec 2016 [Member] | Senior Notes April 2017 [Member] | Senior Notes April 2017 [Member] | Senior Notes October 2017 [Member] | Senior Notes October 2017 [Member] | Senior Notes Sept 2019 [Member] | Senior Notes Sept 2019 [Member] | Senior Notes Mar 2021 [Member] | Senior Notes Mar 2021 [Member] | Senior Notes Dec 2021 [Member] | Senior Notes Dec 2021 [Member] | Senior Notes June 2022 [Member] | Senior Notes June 2022 [Member] | Senior Debentures Apr 2036 [Member] | Senior Debentures Apr 2036 [Member] | Senior Debentures Apr 2036 [Member] | Senior Debentures Oct 2037 [Member] | Senior Debentures Oct 2037 [Member] | Senior Debentures Oct 2037 [Member] | Senior Debentures Feb 2042 [Member] | Senior Debentures Feb 2042 [Member] | Revolving Credit Agreement [Member] | Revolving Credit Agreement [Member] | Revolving Credit Agreement [Member] | Bank Credit Facilities [Member] | Bank Credit Facilities [Member] | Bank Credit Facilities [Member] | Senior Notes Sep 2018 [Member] | Senior Notes Sep 2018 [Member] | Senior Notes Sep 2018 [Member] | Senior Notes Mar 2023 [Member] | Senior Notes Mar 2023 [Member] | Senior Notes Mar 2023 [Member] | Senior Notes Mar 2023 [Member] | Senior Notes Sep 2023 [Member] | Senior Notes Sep 2023 [Member] | Senior Notes Sep 2023 [Member] | Senior Debentures Mar 2043 [Member] | Senior Debentures Mar 2043 [Member] | Senior Debentures Mar 2043 [Member] | Senior Debentures Mar 2043 [Member] | Senior Debentures June 2043 [Member] | Senior Debentures June 2043 [Member] | Senior Debentures June 2043 [Member] | Senior Debentures Sep 2043 [Member] | Senior Debentures Sep 2043 [Member] | Senior Debentures Sep 2043 [Member] | ||||||||
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Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Senior notes and debentures | ' | ' | ' | ' | ' | ' | ' | $599,000,000 | $598,000,000 | $600,000,000 | $599,000,000 | $250,000,000 | $250,000,000 | $917,000,000 | $916,000,000 | $398,000,000 | $398,000,000 | $497,000,000 | $497,000,000 | $499,000,000 | $498,000,000 | $552,000,000 | $553,000,000 | $494,000,000 | $493,000,000 | $592,000,000 | $591,000,000 | $296,000,000 | $296,000,000 | ' | $1,072,000,000 | $1,736,000,000 | ' | $76,000,000 | $249,000,000 | $245,000,000 | $245,000,000 | ' | ' | ' | ' | ' | ' | $497,000,000 | ' | $0 | $298,000,000 | ' | ' | $0 | $1,237,000,000 | ' | $0 | $1,085,000,000 | ' | ' | $0 | $249,000,000 | ' | $0 | $1,242,000,000 | ' | $0 |
Coupon rate | ' | ' | ' | ' | ' | ' | ' | 4.38% | ' | 1.25% | ' | 4.25% | ' | 6.25% | ' | 2.50% | ' | 3.50% | ' | 6.13% | ' | 5.63% | ' | 4.50% | ' | 3.88% | ' | 3.13% | ' | ' | 6.88% | ' | ' | 6.75% | ' | 4.50% | ' | ' | ' | ' | ' | ' | ' | 2.50% | ' | ' | 3.25% | ' | ' | ' | 4.25% | ' | ' | 4.38% | ' | ' | ' | 4.88% | ' | ' | 5.85% | ' | ' |
Commercial paper - amount outstanding | ' | ' | ' | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capital lease and other obligations | ' | ' | ' | ' | 190,000,000 | 230,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Debt | ' | ' | ' | ' | 11,885,000,000 | 8,149,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Less current portion | ' | ' | ' | ' | -18,000,000 | -18,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total noncurrent portion | ' | ' | ' | ' | 11,867,000,000 | 8,131,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal amount of senior notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000,000 | ' | ' | 300,000,000 | 250,000,000 | ' | ' | 1,250,000,000 | ' | ' | 1,196,000,000 | ' | ' | ' | 250,000,000 | ' | ' | 1,250,000,000 | ' |
Rate of Carrying value of Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 99.42% | ' | ' | 99.15% | ' | ' | ' | 98.97% | ' | ' | ' | 97.76% | ' | ' | 99.47% | ' | ' | 99.35% | ' |
Senior Notes And Debentures [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value of Company's senior notes and debentures | ' | ' | ' | ' | 12,312,000,000 | 9,262,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net cash proceeds from offerings | 2,948,000,000 | 542,000,000 | ' | 242,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss on extinguishment of debt | ' | ' | ' | ' | 0 | -21,000,000 | -87,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Original due date of converted debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30-Apr-36 | ' | ' | 5-Oct-37 | ' | ' | ' | ' | 2-Dec-15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount of debt exchanged | ' | ' | 844,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amended due date of converted debt | ' | ' | 15-Mar-43 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9-Nov-17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt exchange gain loss | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line Of Credit Facility Abstract | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total Credit Facility Capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000,000 | ' | 600,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Original Credit Facility Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Former Credit Facility Borrowing Capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Minimum Interest Coverage Ratio | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'The credit facility has one principal financial covenant that requires our interest coverage for the most recent four consecutive fiscal quarters to be at least 3.0x, which we met at September 30, 2013. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility margin rate minimum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility margin rate maximum | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 175.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unamortized net discount related to senior notes and debentures | ' | ' | ' | ' | 425,000,000 | 49,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term Of Bank Credit Facilities | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 364 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maturities of Debt Excluding Capital Leases | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Year 1 | ' | ' | ' | ' | 600,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Year 2 | ' | ' | ' | ' | 898,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Year 3 | ' | ' | ' | ' | 918,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Year 4 | ' | ' | ' | ' | 900,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt year 5 | ' | ' | ' | ' | 1,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt After 5 Years | ' | ' | ' | ' | $7,852,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Pension_Details
Pension (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Change In Benefit Obligation [Abstract] | ' | ' | ' |
Benefit obligation beginning of period | $1,139 | $920 | ' |
Service cost | 8 | 32 | 29 |
Interest cost | 43 | 47 | 44 |
Actuarial Net Gains Losses | 203 | -180 | ' |
Curtailment gain | 65 | 0 | ' |
Benefits Paid | 29 | 40 | ' |
Benefit obligation end of period | 893 | 1,139 | 920 |
Change In Plan Assets [Abstract] | ' | ' | ' |
Fair Value Of Plan Assets Beginning Of Period | 576 | 479 | ' |
Actual Return On Plan Assets | 85 | 103 | ' |
Employers Contribution | 6 | 34 | ' |
Benefits Paid | 29 | 40 | ' |
Fair Value Of Plan Assets End Of Period | 638 | 576 | 479 |
Defined Benefit Plan Funded Status Of Plan Abstract | ' | ' | ' |
Funded Status | -255 | -563 | ' |
Curtailment gain | 65 | 0 | ' |
Net Periodic Benefit Cost Abstract | ' | ' | ' |
Service cost | 8 | 32 | 29 |
Interest cost | 43 | 47 | 44 |
Expected return on plan assets | -45 | -37 | -39 |
Prior service cost | 1 | 0 | 0 |
Recognized actuarial loss | 9 | 19 | 15 |
Net periodic benefit costs | 16 | 61 | 49 |
Unrecognized Benefit Cost Income | ' | ' | ' |
Unrecognized Prior Service Cost | 0 | 1 | ' |
Unrecognized Actuarial Loss Gain | -110 | -427 | ' |
Total | 110 | 428 | ' |
Other Comprehensive Income | ' | ' | ' |
Net Actuarial Loss | 308 | ' | ' |
Recognized actuarial loss | 9 | ' | ' |
Prior service cost | 1 | ' | ' |
Total Pretax Loss | 318 | ' | ' |
Weighted Average Assumptions - Benefit Obligations | ' | ' | ' |
Discount Rate | 5.25% | 4.06% | ' |
Rate Of Compensation Increase | ' | 4.00% | ' |
Weighted Average Assumptions - Net Periodic Costs | ' | ' | ' |
Discount Rate | 3.91% | 5.30% | ' |
Expected Long Term Return On Assets | 8.00% | 8.00% | ' |
Rate Of Compensation Increase | 4.00% | 4.00% | ' |
Asset Allocations Of Funded Pension Plan | ' | ' | ' |
Asset Allocation Weighted Average | 10.00% | 10.00% | ' |
Future Benefit Payments | ' | ' | ' |
2014 | 34 | ' | ' |
2015 | 36 | ' | ' |
2016 | 38 | ' | ' |
2017 | 41 | ' | ' |
2018 | 44 | ' | ' |
2019 - 2023 | 253 | ' | ' |
Fair Value Of Plan Assets [Abstract] | ' | ' | ' |
Viacom B Common Stock | 22 | 14 | ' |
US Large Cap | 201 | 185 | ' |
US Small Mid Cap | 80 | 67 | ' |
World Ex US | 148 | 130 | ' |
Emerging Markets | 26 | 28 | ' |
High Yield | 52 | 51 | ' |
Core fixed income | 109 | 0 | ' |
Long Duration | 0 | 101 | ' |
Fair Value Of Plan Assets | $638 | $576 | ' |
Equity Securities [Member] | ' | ' | ' |
Asset Allocations Of Funded Pension Plan | ' | ' | ' |
Asset Allocation Weighted Average | 71.00% | 69.00% | ' |
Debt Securities [Member] | ' | ' | ' |
Asset Allocations Of Funded Pension Plan | ' | ' | ' |
Asset Allocation Weighted Average | 29.00% | 31.00% | ' |
Pension_Details_2
Pension (Details) 2 (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
inbasispoints | |||
Accumulated Benefit Obligations | ' | ' | ' |
Accumulated Benefit Obligation | $893 | $1,078 | ' |
Projected Benefit Obligation | 893 | 1,139 | ' |
Fair Value of Plan Assets | 638 | 576 | ' |
Target Allocation - Defined Benefit Plan Asset Allocations | ' | ' | ' |
Basis Point Change Expected Rate Of Return | 25 | ' | ' |
Basis Point Change Discount Rate | 25 | ' | ' |
25 Basis Point Change In Discount Rate On Pension Expense | 1 | ' | ' |
25 Basis Point Change In Discount Rate On PBO | 30 | ' | ' |
25 Basis Point Change In Rate Of Return On Plan Assets | 1 | ' | ' |
Viacom Class B Percentage Of Plan Assets Fair Values | 3.00% | 2.00% | ' |
Expected Employer Contributions In The Next Fiscal Year | 20 | ' | ' |
401K Matching Contribution | 42 | 23 | 21 |
Multiemployer Plan Description | 'Multiemployer Benefit Plans We contribute to various multiemployer pension plans under the terms of collective bargaining agreements that cover its union-represented employees. The risks of participating in these multiemployer plans are different from single-employer plans such that (i) contributions made by us to these plans may be used to provide benefits to employees of other participating employers; (ii) if a participating employer stops contributing to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers; and (iii) if we choose to stop participating in some of our multiemployer plans, we may be required to pay those plans an amount based on the underfunded status of the plan, referred to as a withdrawal liability. While no multiemployer pension plan that we contributed to is considered individually significant to us, we were listed on two Form 5500s as providing more than 5% of total contributions to each plan based on current information available. The most recent filed zone status (which denotes the financial health of a plan) under the Pension Protection Act of 2006 for these two plans is green, indicating that the plans are at least 80% funded. Total contributions that we made to multiemployer pension plans were $43 million in 2013, $42 million in 2012 and $34 million in 2011. We also contribute to various other multiemployer benefit plans that provide health and welfare benefits to active and retired participants. Total contributions that we made to these non-pension multiemployer benefit plans were $69 million in 2013, $70 million in 2012 and $78 million in 2011. | ' | ' |
Funded Status of Multiemployer Plans | 'At least 80 percent | ' | ' |
Certified Zone Status | 'Green | ' | ' |
Equity Securities [Member] | ' | ' | ' |
Target Allocation - Defined Benefit Plan Asset Allocations | ' | ' | ' |
Defined Benefit Plan, Minimum Range | 5500.00% | ' | ' |
Defined Benefit Plan, maximum range | 7500.00% | ' | ' |
Debt Securities [Member] | ' | ' | ' |
Target Allocation - Defined Benefit Plan Asset Allocations | ' | ' | ' |
Defined Benefit Plan, Minimum Range | 2500.00% | ' | ' |
Defined Benefit Plan, maximum range | 4000.00% | ' | ' |
Cash and Cash Equivalents [Member] | ' | ' | ' |
Target Allocation - Defined Benefit Plan Asset Allocations | ' | ' | ' |
Defined Benefit Plan, Minimum Range | 0.00% | ' | ' |
Defined Benefit Plan, maximum range | 1000.00% | ' | ' |
Funded Plans [Member] | ' | ' | ' |
Accumulated Benefit Obligations | ' | ' | ' |
Accumulated Benefit Obligation | 641 | 787 | ' |
Projected Benefit Obligation | 641 | 848 | ' |
Fair Value of Plan Assets | 638 | 576 | ' |
Funded Status | -3 | -272 | ' |
Unfunded Plans [Member] | ' | ' | ' |
Accumulated Benefit Obligations | ' | ' | ' |
Accumulated Benefit Obligation | 252 | 291 | ' |
Projected Benefit Obligation | 252 | 291 | ' |
Fair Value of Plan Assets | 0 | 0 | ' |
Funded Status | -252 | -291 | ' |
Multiemployer Pension Plans [Member] | ' | ' | ' |
Target Allocation - Defined Benefit Plan Asset Allocations | ' | ' | ' |
Multiemployer Plan Period Contributions | 43 | 42 | 34 |
Non Pension Multiemployer Plans [Member] | ' | ' | ' |
Target Allocation - Defined Benefit Plan Asset Allocations | ' | ' | ' |
Multiemployer Plan Period Contributions | $69 | $70 | $78 |
Equity_Based_Compensation_Deta
Equity Based Compensation (Details) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ' | ' | ' |
Recognized in earnings | $128 | $122 | $128 |
Tax benefit recognized | 41 | 39 | 42 |
Capitalized equity-based compensation expense | 6 | 10 | 6 |
Key Assumptions [Abstract] | ' | ' | ' |
Stock Option Fair Value grant date price per share | $13.02 | $10.17 | $11.01 |
Weighted Average Assumptions [Abstract] | ' | ' | ' |
Expected Stock Price Volatility | 25.70% | 30.70% | 28.30% |
Expected term of options (years) | '4 years 8 months 12 days | '5 years | '5 years 3 months 18 days |
Risk-free investment rate | 0.80% | 0.80% | 1.80% |
Expected dividend yield | 1.70% | 2.30% | 2.00% |
Stock Options Roll Forward Schedule | ' | ' | ' |
Outstanding at the beginning of the period | 29,269,500 | 35,375,700 | 38,140,600 |
Granted | 2,363,300 | 3,110,000 | 4,028,000 |
Exercise of stock options and share issuances, shares | 9,792,100 | 6,398,800 | 4,288,500 |
Forfeited or expired | 398,800 | 2,817,400 | 2,504,400 |
Outstanding at the end of the period | 21,441,900 | 29,269,500 | 35,375,700 |
Exercisable at the end of the period | 13,024,600 | 19,004,600 | 23,866,900 |
Stock Options Weighted average exercise price | ' | ' | ' |
Outstanding at the beginning of the period | $40.22 | $40.91 | $41.13 |
Granted | $69.56 | $47.37 | $49.17 |
Exercised | $41.23 | $41.94 | $38.23 |
Forfeited or expired | $47.61 | $52.94 | $62.10 |
Outstanding at the end of the period | $42.85 | $40.22 | $40.91 |
Exercisable at the end of the period | $37.43 | $39.32 | $42.30 |
Stock Options Exercise | ' | ' | ' |
Proceeds from stock option exercises | 403 | 268 | 164 |
Intrinsic value | 270 | 51 | 41 |
Tax benefit | 77 | 0 | -1 |
RSUs, PSUs, and PRSUs Weighted Average Grant Date Fair Value | ' | ' | ' |
Unvested at the beginning of the period | $44.22 | $38.58 | $35.03 |
Granted | $62.51 | $45.02 | $53.43 |
Vested | $41.49 | $35.27 | $40.97 |
Forfeited | $44.33 | $36.62 | $31.63 |
Unvested at the end of the period | $53.54 | $44.22 | $38.58 |
RSUs, PSUs, and PRSUs Number of shares | ' | ' | ' |
Unvested at the beginning of the period | 5,721,500 | 7,200,700 | 7,729,200 |
Granted | 1,750,200 | 2,846,500 | 1,979,400 |
Vested | 3,005,200 | 4,028,400 | 2,076,100 |
Forfeited | 155,100 | 297,300 | 431,800 |
Unvested at the end of the period | 4,311,400 | 5,721,500 | 7,200,700 |
Employee Stock Options Member | ' | ' | ' |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ' | ' | ' |
Recognized in earnings | 42 | 41 | 45 |
Rsu Psu Prsu [Member] | ' | ' | ' |
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items] | ' | ' | ' |
Recognized in earnings | $86 | $81 | $83 |
Equity_Based_Compensation_Deta1
Equity Based Compensation (Details) 2 (USD $) | 12 Months Ended | |||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
inyears | inyears | |||
Longterm Management Incentive Plan [Abstract] | ' | ' | ' | ' |
Minimum Percentage of Target Award | 0.00% | 0.00% | ' | ' |
Maximum Percentage of Target Award | 300.00% | 300.00% | ' | ' |
Minimum Vested Percentage of Target Award | 75.00% | 75.00% | ' | ' |
Maximum Vested Percentage of Target Award | 125.00% | 125.00% | ' | ' |
Treasury Shares | 336.3 | 336.3 | 267.1 | ' |
Future equity awards authorized under LTMIP | 25.7 | 25.7 | ' | ' |
Stock Options [Abstract] | ' | ' | ' | ' |
Weighted average remaining contractual life of stock options outstanding | '5 years | '5 years | ' | ' |
Weighted average remaining contractual life of stock options exercisable | '3 years | '3 years | ' | ' |
Aggregate intrinsic value of stock options outstanding | $873 | $873 | ' | ' |
Aggregate intrinsic value of stock options exercisable | 601 | 601 | ' | ' |
Unrecognized compensation costs related to unvested stock options | 72 | 72 | ' | ' |
Weighted average period of unrecognized compensation recognition related to unvested stock options | '3 years | '3 years | ' | ' |
Other Equity Based Awards [Abstract] | ' | ' | ' | ' |
Weighted average remaining contractual life of unvested RSUs, PSUs, and PRSUs | 1 | 1 | ' | ' |
Weighted average grant date fair value of RSUs vested and deferred | $13.02 | ' | $10.17 | $11.01 |
Fair value of RSUs, PSUs, and PRSUs vested | ' | 175 | 187 | 96 |
Unrecognized compensation costs related to RSUs, PSUs, and PRSUs | $151 | $151 | ' | ' |
Weighted average period of unrecognized compensation recognition related to RSUs, PSUs, and PRSUs | 2 | 360,000,000 | ' | ' |
PRSUs Included In Grant Activity | 0.2 | 0.2 | 0.3 | 0.5 |
Fair_Value_Measurements_Detail
Fair Value Measurements (Details) (USD $) | Sep. 30, 2013 | Sep. 30, 2012 |
In Millions, unless otherwise specified | ||
Financial Instruments [Line Items] | ' | ' |
Marketable securities | $89 | $84 |
Derivatives | -2 | -1 |
Total financial instruments | 87 | 83 |
Foreign Currency Hedge Derivatives [Abstract] | ' | ' |
Notional value of all foreign exchange contracts | 196 | 176 |
Notional value of all interest rate hedges | 0 | 0 |
Foreign Currency Balances In Foreign Operations [Member] | ' | ' |
Foreign Currency Hedge Derivatives [Abstract] | ' | ' |
Notional value of all foreign exchange contracts | 178 | 120 |
Future Production Costs And Programming Obligations [Member] | ' | ' |
Foreign Currency Hedge Derivatives [Abstract] | ' | ' |
Notional value of all foreign exchange contracts | 18 | 56 |
Quoted Prices In Active Markets for Identical Assets Level 1 | ' | ' |
Financial Instruments [Line Items] | ' | ' |
Marketable securities | 89 | 84 |
Derivatives | 0 | 0 |
Total financial instruments | 89 | 84 |
Significant Other Observable Inputs Level 2 | ' | ' |
Financial Instruments [Line Items] | ' | ' |
Marketable securities | 0 | 0 |
Derivatives | -2 | -1 |
Total financial instruments | -2 | -1 |
Significant Unobservable Inputs Level 3 | ' | ' |
Financial Instruments [Line Items] | ' | ' |
Marketable securities | 0 | 0 |
Derivatives | 0 | 0 |
Total financial instruments | $0 | $0 |
Committments_and_Contingencies
Committments and Contingencies (Details) (USD $) | 0 Months Ended | 3 Months Ended | 12 Months Ended | ||||
In Millions, unless otherwise specified | Aug. 06, 2013 | Jun. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2008 | Dec. 31, 2011 |
Operating Leases Future Minimum Payments Due Abstract | ' | ' | ' | ' | ' | ' | ' |
2014 | ' | ' | $193 | ' | ' | ' | ' |
2015 | ' | ' | 174 | ' | ' | ' | ' |
2016 | ' | ' | 154 | ' | ' | ' | ' |
2017 | ' | ' | 135 | ' | ' | ' | ' |
2018 | ' | ' | 119 | ' | ' | ' | ' |
2019 and thereafter | ' | ' | 937 | ' | ' | ' | ' |
Total operating leases | ' | ' | 1,712 | ' | ' | ' | ' |
Capital Leases Future Minimum Payments Due Abstract | ' | ' | ' | ' | ' | ' | ' |
2014 | ' | ' | 25 | ' | ' | ' | ' |
2015 | ' | ' | 26 | ' | ' | ' | ' |
2016 | ' | ' | 26 | ' | ' | ' | ' |
2017 | ' | ' | 25 | ' | ' | ' | ' |
2018 | ' | ' | 25 | ' | ' | ' | ' |
2019 and thereafter | ' | ' | 43 | ' | ' | ' | ' |
Total capital leases | ' | ' | 170 | ' | ' | ' | ' |
Amounts representing interest | ' | ' | 27 | ' | ' | ' | ' |
Total, net of amounts representing interest | ' | ' | 143 | ' | ' | ' | ' |
Commitments [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Future minimum sublease income | ' | ' | 35 | ' | ' | ' | ' |
Rent expense | ' | ' | 205 | 201 | 203 | ' | ' |
Current purchase obligations | ' | ' | 657 | ' | ' | ' | ' |
Period end lease indemnifications | ' | ' | 485 | ' | ' | ' | ' |
Recorded liability for lease indemnifications | ' | ' | 195 | ' | ' | ' | ' |
Outstanding letters of credit | ' | ' | 43 | ' | ' | ' | ' |
Viacom 18 Bank debt guarantee | ' | ' | 70 | ' | ' | ' | ' |
Viacom 18 future funding commitment | ' | ' | 15 | ' | ' | ' | ' |
Cash payment for contingent consideration | ' | 84 | ' | ' | ' | 150 | ' |
Earnout payment additional claim | ' | ' | ' | ' | ' | ' | 700 |
Escrow amount related to arrangement | ' | ' | 13 | ' | ' | ' | ' |
Cash payment for accrued interest | ' | 3 | 28 | ' | ' | ' | ' |
Earnout payment including interest | 327 | ' | ' | ' | ' | ' | ' |
Contingent liability for Harmonix | ' | ' | ' | ' | ' | ' | 383 |
Programming And Talent Commitments [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Programming commitments recorded on balance sheet | ' | ' | 1,103 | ' | ' | ' | ' |
Programming and talent commitments not recorded on balance sheet | ' | ' | 657 | ' | ' | ' | ' |
Fiscal Year One [Member] | ' | ' | ' | ' | ' | ' | ' |
Programming And Talent Commitments [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Programming commitments recorded on balance sheet | ' | ' | 576 | ' | ' | ' | ' |
Fiscal Year Two [Member] | ' | ' | ' | ' | ' | ' | ' |
Programming And Talent Commitments [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Programming commitments recorded on balance sheet | ' | ' | 251 | ' | ' | ' | ' |
Fiscal Year Three [Member] | ' | ' | ' | ' | ' | ' | ' |
Programming And Talent Commitments [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Programming commitments recorded on balance sheet | ' | ' | 157 | ' | ' | ' | ' |
Fiscal Year Four [Member] | ' | ' | ' | ' | ' | ' | ' |
Programming And Talent Commitments [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Programming commitments recorded on balance sheet | ' | ' | 80 | ' | ' | ' | ' |
Fiscal Year Five [Member] | ' | ' | ' | ' | ' | ' | ' |
Programming And Talent Commitments [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Programming commitments recorded on balance sheet | ' | ' | 30 | ' | ' | ' | ' |
Media Networks Programming Commitments [Member] | ' | ' | ' | ' | ' | ' | ' |
Commitments [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Current purchase obligations | ' | ' | 1,162 | ' | ' | ' | ' |
Programming And Talent Commitments [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Programming and talent commitments not recorded on balance sheet | ' | ' | 1,162 | ' | ' | ' | ' |
Talent Contracts Commitments [Member] | ' | ' | ' | ' | ' | ' | ' |
Commitments [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Current purchase obligations | ' | ' | 294 | ' | ' | ' | ' |
Programming And Talent Commitments [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Programming and talent commitments not recorded on balance sheet | ' | ' | 294 | ' | ' | ' | ' |
Total programming and talent commitments [Member] | ' | ' | ' | ' | ' | ' | ' |
Commitments [Abstract] | ' | ' | ' | ' | ' | ' | ' |
Current purchase obligations | ' | ' | 1,456 | ' | ' | ' | ' |
Programming And Talent Commitments [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Programming and talent commitments not recorded on balance sheet | ' | ' | $1,456 | ' | ' | ' | ' |
Stockholders_Equity_Details
Stockholders' Equity (Details) (USD $) | 0 Months Ended | 1 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Aug. 01, 2013 | Nov. 13, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Accumulated Other Comprehensive Income Loss Net Of Tax Abstract | ' | ' | ' | ' | ' |
AOCI Translation Adjustment | ' | ' | ($20) | $19 | $61 |
AOCI Defined benefit pension plans | ' | ' | -82 | -272 | -209 |
AOCI Cash Flow Hedges | ' | ' | 1 | -8 | -14 |
AOCI Available for sale securities | ' | ' | 0 | -3 | -2 |
Total | ' | ' | -101 | -264 | ' |
Stockholders Equity Details [Abstract] | ' | ' | ' | ' | ' |
Minimum Class A Shares Needed For Conversion | ' | ' | 5,000 | ' | ' |
Preferred Stock Shares Authorized | ' | ' | 25,000,000 | 25,000,000 | ' |
Preferred Stock Par Or Stated Value Per Share | ' | ' | $0.00 | ' | ' |
Preferred Stock Shares Outstanding | ' | ' | 0 | 0 | ' |
Stock repurchase program authorized amount | 20 | ' | ' | ' | ' |
Stock repurchase program remaining capacity | ' | 9,630 | ' | ' | ' |
Stock repurchase program former authorized amount | 10 | ' | ' | ' | ' |
Open Market Dollar Value Of Shares Repurchased | ' | $270 | ' | ' | ' |
Open Market Shares Acquired During Period | ' | 3,200,000 | ' | ' | ' |
Restructuring_and_Other_Charge2
Restructuring and Other Charges (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Restructuring And Related Cost [Line Items] | ' | ' | ' |
Restructuring | $93 | $0 | $144 |
Restructuring Reserve Abstract | ' | ' | ' |
Restructuring Reserve, Beginning Balance | 47 | 124 | 13 |
Additions | 93 | 0 | 144 |
Period Expense, Additions | 86 | ' | 126 |
Severance payments | 27 | -70 | 12 |
Lease payments | 3 | 7 | ' |
Asset impairment | 7 | ' | ' |
Programming inventory | 13 | ' | ' |
Revisions to initial estimates | ' | ' | -3 |
Restructuring Reserve, Ending Balance | 103 | 47 | 124 |
Other Restructuring Plans [Abstract] | ' | ' | ' |
Remaining Restructuring Reserve | 17 | ' | ' |
Total Viacom [Member] | ' | ' | ' |
Other Restructuring Plans [Abstract] | ' | ' | ' |
Severance Costs | ' | ' | 123 |
Lease termination costs | ' | ' | 21 |
Media Networks Segment [Member] | ' | ' | ' |
Restructuring And Related Cost [Line Items] | ' | ' | ' |
Restructuring | 68 | ' | 91 |
Restructuring Reserve Abstract | ' | ' | ' |
Restructuring Reserve, Beginning Balance | 38 | 80 | 4 |
Additions | 68 | ' | 91 |
Period Expense, Additions | 61 | ' | 82 |
Severance payments | 20 | -39 | 3 |
Lease payments | 3 | 3 | ' |
Asset impairment | 7 | ' | ' |
Programming inventory | 13 | ' | ' |
Revisions to initial estimates | ' | ' | -3 |
Total segment charges | 81 | ' | ' |
Restructuring Reserve, Ending Balance | 76 | 38 | 80 |
Filmed Entertainment Segment [Member] | ' | ' | ' |
Restructuring And Related Cost [Line Items] | ' | ' | ' |
Restructuring | 25 | ' | 53 |
Restructuring Reserve Abstract | ' | ' | ' |
Restructuring Reserve, Beginning Balance | 9 | 44 | 9 |
Additions | 25 | ' | 53 |
Period Expense, Additions | 25 | ' | 44 |
Severance payments | 7 | -31 | 9 |
Lease payments | 0 | 4 | ' |
Asset impairment | 0 | ' | ' |
Programming inventory | 0 | ' | ' |
Revisions to initial estimates | ' | ' | 0 |
Total segment charges | 25 | ' | ' |
Restructuring Reserve, Ending Balance | 27 | 9 | 44 |
Viacom [Member] | ' | ' | ' |
Restructuring Reserve Abstract | ' | ' | ' |
Total segment charges | $106 | ' | ' |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 12 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments Abstract | ' | ' | ' |
United States | $3,040,000,000 | $2,984,000,000 | $2,749,000,000 |
International | 479,000,000 | 486,000,000 | 496,000,000 |
Pre-tax earnings from continuing operations | 3,519,000,000 | 3,470,000,000 | 3,245,000,000 |
The provision for income taxes from continuing operations | ' | ' | ' |
Federal | 401,000,000 | 872,000,000 | 453,000,000 |
State & Local | 23,000,000 | 117,000,000 | 53,000,000 |
International | 152,000,000 | 183,000,000 | 180,000,000 |
Current Income Tax Expense Benefit | 576,000,000 | 1,172,000,000 | 686,000,000 |
Income Tax Expense Benefit Continuing Operations | 1,070,000,000 | 1,085,000,000 | 1,062,000,000 |
Reconciliation of the effective income tax rate | ' | ' | ' |
U.S. federal statutory income tax rate | 35.00% | 35.00% | 35.00% |
State and local taxes, net of federal benefit | 2.20% | 2.20% | 2.60% |
Effect of international operations | -2.60% | -0.80% | -2.00% |
Audit settlements | -1.30% | -1.40% | -2.00% |
Qualified production activities deduction | -2.10% | -3.00% | -2.50% |
Change in valuation allowance | -1.80% | -1.40% | 0.00% |
All other, net | 1.00% | 0.70% | 1.60% |
Effective tax rate, continuing operations, total | 30.40% | 31.30% | 32.70% |
Deferred Tax Assets: | ' | ' | ' |
Provision for expense and losses | 199,000,000 | 332,000,000 | ' |
Postretirement and other employee benefits | 294,000,000 | 394,000,000 | ' |
Tax credit and loss carryforwards | 274,000,000 | 216,000,000 | ' |
All other | 188,000,000 | 219,000,000 | ' |
Total deferred tax assets | 955,000,000 | 1,161,000,000 | ' |
Valuation allowance | -277,000,000 | -324,000,000 | ' |
Noncurrent deferred tax asset | 45,000,000 | ' | ' |
Total deferred tax assets, net | 678,000,000 | 837,000,000 | ' |
Deferred Tax Liabilities Abstract | ' | ' | ' |
Property, equipment and intangible assets | -436,000,000 | -415,000,000 | ' |
Total deferred tax liabilities | 1,224,000,000 | 774,000,000 | ' |
Unbilled revenue | 133,000,000 | 105,000,000 | ' |
Financing obligations | 120,000,000 | 0 | ' |
Film and TV production assets | 535,000,000 | 254,000,000 | ' |
Deferred taxes, net | -546,000,000 | 63,000,000 | ' |
Deferred Tax Assets Liabilities Net Abstract | ' | ' | ' |
Current deferred tax assets, net | 58,000,000 | 68,000,000 | ' |
Noncurrent deferred tax liabilities, net | 649,000,000 | 5,000,000 | ' |
Deferred tax assets, net | -546,000,000 | 63,000,000 | ' |
Reconciliation Of Unrecognized Tax Benefits Excluding Amounts Pertaining To Examined Tax Returns Roll Forward | ' | ' | ' |
Balance at beginning of the period | 207,000,000 | 212,000,000 | 304,000,000 |
Gross additions based on tax positions related to the current year | 29,000,000 | 28,000,000 | 17,000,000 |
Gross additions for tax positions of prior years | 5,000,000 | 24,000,000 | 3,000,000 |
Settlements | 25,000,000 | 2,000,000 | 11,000,000 |
Gross reductions for tax positions of prior years | -50,000,000 | -44,000,000 | -97,000,000 |
Expiration of the statute of limitation | -7,000,000 | -11,000,000 | -4,000,000 |
Balance at end of the period | 159,000,000 | 207,000,000 | 212,000,000 |
Items recognized in income statement related to unrecognized tax benefits | ' | ' | ' |
Interest and Penalties | 9,000,000 | 15,000,000 | 14,000,000 |
Interest and Penalties Accrual | 35,000,000 | 66,000,000 | ' |
Future Unrecognized tax benefits | 75,000,000 | ' | ' |
Recognized Net Discrete Tax Benefits | 54,000,000 | 94,000,000 | 52,000,000 |
Unremitted Earnings Of International Subsidiaries | 2,100,000,000 | ' | ' |
Repatriation of Foreign Earnings | 'Under current U.S. tax laws, repatriating unremitted earnings could result in incremental taxes of 10% - 15% on the repatriated amounts depending on the territory | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' | ' |
Tax losses in various foreign jurisdictions | 335,000,000 | ' | ' |
Foreign Tax Losses With Unlimited Carryforward Periods | 371,000,000 | ' | ' |
Foreign Tax Losses With Limited Carryforward Periods | $107,000,000 | ' | ' |
Supplemental_Cash_Flow_and_Oth2
Supplemental Cash Flow and Other Information (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||
In Millions, unless otherwise specified | Jun. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 | Dec. 31, 2008 |
Redeemable Noncontrolling Interests | ' | ' | ' | ' | ' |
Beginning balance | ' | $179 | $152 | $131 | ' |
Net Earnings | ' | 14 | 16 | 12 | ' |
Distributions | ' | -13 | -16 | -12 | ' |
Translation Adjustments | ' | -4 | 7 | -1 | ' |
Redemption value adjustment | ' | 24 | 20 | 22 | ' |
Ending balance | ' | 200 | 179 | 152 | ' |
Supplemental Cash Flow And Other Information Paragraph Details [Abstract] | ' | ' | ' | ' | ' |
Noncurrent Trade Receivables | ' | 379 | 372 | ' | ' |
Cash payment for accrued interest | 3 | 28 | ' | ' | ' |
Cash paid for income taxes | ' | 463 | 1,069 | 1,050 | ' |
Cash paid for interest | ' | 475 | 409 | 420 | ' |
Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed Abstract | ' | ' | ' | ' | ' |
Cash payment for contingent consideration | 84 | ' | ' | ' | 150 |
Federal tax refund | ' | ' | 100 | ' | ' |
Interest Expense, net | ' | ' | ' | ' | ' |
Interest expense | ' | -468 | -425 | -419 | ' |
Interest income | ' | 4 | 8 | 7 | ' |
Interest expense, net | ' | 464 | 417 | 412 | ' |
Other Items, net | ' | ' | ' | ' | ' |
Other investment gains | ' | 46 | 0 | 0 | ' |
Gain on sale of HBO Pacific Partners and LAPTV | ' | 111 | 0 | 0 | ' |
Impairment of investment | ' | 23 | 0 | 0 | ' |
Foreign exchange (loss) gain | ' | -23 | -8 | -4 | ' |
Other gains/(losses) | ' | -5 | 3 | -2 | ' |
Other items, net | ' | $106 | ($5) | ($6) | ' |
Reporting_Segments_Details
Reporting Segments (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | $3,652 | $3,693 | $3,135 | $3,314 | $3,363 | $3,241 | $3,331 | $3,952 | $13,794 | $13,887 | $14,914 |
Long Lived Assets | 5,475 | ' | ' | ' | 5,738 | ' | ' | ' | 5,475 | 5,738 | ' |
Equity-based compensation | ' | ' | ' | ' | ' | ' | ' | ' | -128 | -122 | -128 |
Restructuring | ' | ' | ' | ' | ' | ' | ' | ' | -93 | 0 | -144 |
Operating Income | 1,107 | 1,085 | 847 | 797 | 1,050 | 903 | 932 | 1,016 | 3,836 | 3,901 | 3,710 |
Interest Expense Net | ' | ' | ' | ' | ' | ' | ' | ' | -464 | -417 | -412 |
Equity in net losses of investee companies | ' | ' | ' | ' | ' | ' | ' | ' | 41 | 12 | 40 |
Loss on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | ' | 0 | -21 | -87 |
Other Nonoperating Income (Expense) | ' | ' | ' | ' | ' | ' | ' | ' | 106 | -5 | -6 |
Income (Loss) from Continuing Operations before Income Taxes, Extraordinary Items, Noncontrolling Interest | ' | ' | ' | ' | ' | ' | ' | ' | 3,519 | 3,470 | 3,245 |
Total Assets, Amortization and Capital Expenditures [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total assets | 23,829 | ' | ' | ' | 22,250 | ' | ' | ' | 23,829 | 22,250 | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 237 | 236 | 271 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 160 | 154 | 155 |
Revenue By Component [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Advertising Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 4,855 | 4,756 | 4,997 |
Feature Film | ' | ' | ' | ' | ' | ' | ' | ' | 3,742 | 4,366 | 5,482 |
Affiliate Fees | ' | ' | ' | ' | ' | ' | ' | ' | 4,245 | 3,889 | 3,519 |
Ancillary | ' | ' | ' | ' | ' | ' | ' | ' | 1,096 | 1,003 | 1,070 |
Eliminations | ' | ' | ' | ' | ' | ' | ' | ' | -144 | -127 | -154 |
Total revenues | 3,652 | 3,693 | 3,135 | 3,314 | 3,363 | 3,241 | 3,331 | 3,952 | 13,794 | 13,887 | 14,914 |
United States [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | 10,152 | 9,804 | 10,538 |
Long Lived Assets | 4,982 | ' | ' | ' | 5,238 | ' | ' | ' | 4,982 | 5,238 | ' |
Revenue By Component [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | 10,152 | 9,804 | 10,538 |
EMEA [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | 2,173 | 2,423 | 2,587 |
Long Lived Assets | 418 | ' | ' | ' | 396 | ' | ' | ' | 418 | 396 | ' |
Revenue By Component [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | 2,173 | 2,423 | 2,587 |
All Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,469 | 1,660 | 1,789 |
Long Lived Assets | 75 | ' | ' | ' | 104 | ' | ' | ' | 75 | 104 | ' |
Revenue By Component [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,469 | 1,660 | 1,789 |
International [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Total Consolidated Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 26.00% | 29.00% | 29.00% |
United Kingdom And Germany [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage Of Total Consolidated Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 44.00% | 44.00% | 42.00% |
Media Networks [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | 9,656 | 9,194 | 9,145 |
Adjusted operating income by Segment | ' | ' | ' | ' | ' | ' | ' | ' | 4,096 | 3,889 | 3,848 |
Total Assets, Amortization and Capital Expenditures [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total assets | 16,653 | ' | ' | ' | 16,401 | ' | ' | ' | 16,653 | 16,401 | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 144 | 144 | 177 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 103 | 101 | 96 |
Revenue By Component [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | 9,656 | 9,194 | 9,145 |
Film Entertainment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | 4,282 | 4,820 | 5,923 |
Adjusted operating income by Segment | ' | ' | ' | ' | ' | ' | ' | ' | 234 | 325 | 341 |
Total Assets, Amortization and Capital Expenditures [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total assets | 5,647 | ' | ' | ' | 5,251 | ' | ' | ' | 5,647 | 5,251 | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 89 | 87 | 89 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 53 | 46 | 55 |
Revenue By Component [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total revenues | ' | ' | ' | ' | ' | ' | ' | ' | 4,282 | 4,820 | 5,923 |
Intersegment Eliminations [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Corporate expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 |
Eliminations OI | ' | ' | ' | ' | ' | ' | ' | ' | -9 | 1 | ' |
Corporate [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Corporate expenses | ' | ' | ' | ' | ' | ' | ' | ' | -251 | -192 | -207 |
Total Assets, Amortization and Capital Expenditures [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total assets | 1,529 | ' | ' | ' | 598 | ' | ' | ' | 1,529 | 598 | ' |
Depreciation and amortization | ' | ' | ' | ' | ' | ' | ' | ' | 4 | 5 | 5 |
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | $4 | $7 | $4 |
Related_Party_Transactions_Det
Related Party Transactions (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
CBS [Member] | ' | ' | ' |
Consolidated Statements of Earnings | ' | ' | ' |
Revenues | $264 | $285 | $341 |
Operating expenses | 327 | 347 | 434 |
Consolidated Balance Sheets [Abstract] | ' | ' | ' |
Accounts receivable | 5 | 7 | ' |
Other assets | 0 | 1 | ' |
Total due from other related parties | 5 | 8 | ' |
Accounts payable | 3 | 1 | ' |
Participants' share and residuals, current | 115 | 143 | ' |
Program rights obligations, current | 99 | 110 | ' |
Program rights obligations, noncurrent | 139 | 169 | ' |
Other liabilities | 15 | 24 | ' |
Total due to other related parties | 371 | 447 | ' |
NAI [Member] | ' | ' | ' |
Consolidated Statements of Earnings | ' | ' | ' |
Revenues | 19 | 19 | 44 |
Other Related Parties [Member] | ' | ' | ' |
Consolidated Statements of Earnings | ' | ' | ' |
Revenues | 216 | 309 | 239 |
Operating expenses | 63 | 120 | 83 |
Selling general and adminstrative | -17 | -16 | -16 |
Consolidated Balance Sheets [Abstract] | ' | ' | ' |
Accounts receivable | 84 | 114 | ' |
Other assets | 1 | 3 | ' |
Total due from other related parties | 85 | 117 | ' |
Accounts payable | 4 | 8 | ' |
Other liabilities | 26 | 17 | ' |
Total due to other related parties | $30 | $25 | ' |
Discontinued_Operations_Detail
Discontinued Operations (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2010 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | ' | ' | ' | ' |
Revenues from discontinued operations | ' | ' | ' | $49 |
Pre-tax losses from discontinued operations | 14 | -19 | -390 | -23 |
Income tax provision | ' | 7 | 26 | 13 |
Net earnings losses from discontinued operations | ' | -12 | -364 | -10 |
Disposed Business [Member] | ' | ' | ' | ' |
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | ' | ' | ' | ' |
Revenues from discontinued operations | ' | ' | ' | 49 |
Pre-tax losses from discontinued operations | 12 | -19 | -398 | -31 |
Income tax provision | ' | 7 | 21 | 15 |
Net earnings losses from discontinued operations | ' | -12 | -377 | -16 |
Tax benefit on disposal | ' | 250 | ' | ' |
Adjustment amount to prior period gain loss on disposal | ' | ' | 383 | ' |
Tax benefit not previously utilized | ' | 103 | ' | ' |
All Other Disposed Business [Member] | ' | ' | ' | ' |
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | ' | ' | ' | ' |
Revenues from discontinued operations | ' | ' | ' | 0 |
Pre-tax losses from discontinued operations | ' | 0 | -8 | -8 |
Income tax provision | ' | 0 | 5 | -2 |
Net earnings losses from discontinued operations | ' | $0 | $13 | ($6) |
Quarterly_Financial_Data_Unaud2
Quarterly Financial Data Unaudited (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Quarterly Financial Information [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenues | $3,652 | $3,693 | $3,135 | $3,314 | $3,363 | $3,241 | $3,331 | $3,952 | $13,794 | $13,887 | $14,914 |
Operating income | 1,107 | 1,085 | 847 | 797 | 1,050 | 903 | 932 | 1,016 | 3,836 | 3,901 | 3,710 |
Net earnings from continuing operations (Viacom and noncontrolling interests) | 812 | 666 | 489 | 482 | 649 | 536 | 599 | 601 | 2,449 | 2,385 | 2,183 |
Net earnings (Viacom and noncontrolling interests) | 810 | 662 | 486 | 479 | 656 | 547 | 596 | 222 | 2,437 | 2,021 | 2,173 |
Net earnings from continuing operations attributable to Viacom | 806 | 647 | 481 | 473 | 643 | 523 | 588 | 591 | 2,407 | 2,345 | 2,146 |
Net earnings attributable to Viacom | $804 | $643 | $478 | $470 | $650 | $534 | $585 | $212 | $2,395 | $1,981 | $2,136 |
Basic net earnings per share, continuing operations attributable to Viacom | $1.72 | $1.34 | $0.98 | $0.94 | $1.26 | $1 | $1.09 | $1.07 | $4.95 | $4.42 | $3.65 |
Basic net earnings per share attributable to Viacom | $1.72 | $1.33 | $0.97 | $0.94 | $1.27 | $1.02 | $1.09 | $0.39 | $4.93 | $3.73 | $3.64 |
Diluted net earnings per share, continuing operations attributable to Viacom | $1.69 | $1.32 | $0.96 | $0.93 | $1.24 | $0.99 | $1.08 | $1.06 | $4.86 | $4.36 | $3.61 |
Diluted net earnings per share attributable to Viacom | $1.68 | $1.31 | $0.96 | $0.92 | $1.26 | $1.01 | $1.07 | $0.38 | $4.84 | $3.69 | $3.59 |
Schedule_ll_Details
Schedule ll (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2011 |
Allowance For Doubtful Accounts [Member] | ' | ' | ' |
Valuation And Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Beginning of period | $36 | $49 | $76 |
Additions - expense and other | 8 | 6 | 9 |
Deductions | -11 | -19 | -36 |
End of period | 33 | 36 | 49 |
Sales returns and allowances [Member] | ' | ' | ' |
Valuation And Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Beginning of period | 282 | 309 | 254 |
Additions - expense and other | 503 | 595 | 693 |
Deductions | -524 | -622 | -638 |
End of period | 261 | 282 | 309 |
Inventory obsolescence reserves [Member] | ' | ' | ' |
Valuation And Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Beginning of period | 74 | 73 | 73 |
Additions - expense and other | 3 | 11 | 20 |
Deductions | -2 | -10 | -20 |
End of period | 75 | 74 | 73 |
Deferred tax valuation [Member] | ' | ' | ' |
Valuation And Qualifying Accounts Disclosure [Line Items] | ' | ' | ' |
Beginning of period | 324 | 222 | 144 |
Additions - expense and other | 75 | 161 | 94 |
Deductions | -122 | -59 | -16 |
End of period | $277 | $324 | $222 |