Attached files
| file | filename |
|---|---|
| 8-K - 8-K - ViacomCBS Inc. | cbs_8k-071614.htm |
| EX-99.1 - EXHIBIT 99.1 - ViacomCBS Inc. | cbs_ex991-071614.htm |
Exhibit 99.2
SUPPLEMENTAL QUARTERLY FINANCIAL DATA
(Unaudited; Dollars in millions, except per share amounts)
2013 | 2014 | ||||||||||||||||||||||
First Quarter | Second Quarter | Third Quarter | Fourth Quarter | Full Year | First Quarter | ||||||||||||||||||
Revenues: | |||||||||||||||||||||||
Entertainment | $ | 2,539 | $ | 2,008 | $ | 1,884 | $ | 2,214 | $ | 8,645 | $ | 2,303 | |||||||||||
Cable Networks | 478 | 518 | 596 | 477 | 2,069 | 537 | |||||||||||||||||
Publishing | 171 | 189 | 224 | 225 | 809 | 153 | |||||||||||||||||
Local Broadcasting | 638 | 698 | 641 | 719 | 2,696 | 626 | |||||||||||||||||
Eliminations | (63 | ) | (44 | ) | (43 | ) | (64 | ) | (214 | ) | (49 | ) | |||||||||||
Total Revenues | $ | 3,763 | $ | 3,369 | $ | 3,302 | $ | 3,571 | $ | 14,005 | $ | 3,570 | |||||||||||
Segment OIBDA: (a) | |||||||||||||||||||||||
Entertainment | $ | 480 | $ | 429 | $ | 431 | $ | 418 | $ | 1,758 | $ | 457 | |||||||||||
Cable Networks | 231 | 207 | 261 | 199 | 898 | 259 | |||||||||||||||||
Publishing | 12 | 21 | 43 | 37 | 113 | 13 | |||||||||||||||||
Local Broadcasting | 199 | 255 | 181 | 263 | 898 | 200 | |||||||||||||||||
Corporate | (77 | ) | (64 | ) | (82 | ) | (109 | ) | (332 | ) | (67 | ) | |||||||||||
Total Segment OIBDA | 845 | 848 | 834 | 808 | 3,335 | 862 | |||||||||||||||||
Restructuring charges | — | — | — | (20 | ) | (20 | ) | — | |||||||||||||||
Depreciation and amortization | (74 | ) | (73 | ) | (70 | ) | (73 | ) | (290 | ) | (71 | ) | |||||||||||
Total Operating Income | $ | 771 | $ | 775 | $ | 764 | $ | 715 | $ | 3,025 | $ | 791 | |||||||||||
Operating Income (Loss): | |||||||||||||||||||||||
Entertainment | $ | 440 | $ | 391 | $ | 394 | $ | 368 | $ | 1,593 | $ | 420 | |||||||||||
Cable Networks | 227 | 202 | 255 | 193 | 877 | 254 | |||||||||||||||||
Publishing | 10 | 20 | 41 | 35 | 106 | 11 | |||||||||||||||||
Local Broadcasting | 176 | 234 | 161 | 236 | 807 | 179 | |||||||||||||||||
Corporate | (82 | ) | (72 | ) | (87 | ) | (117 | ) | (358 | ) | (73 | ) | |||||||||||
Total Operating Income | 771 | 775 | 764 | 715 | 3,025 | 791 | |||||||||||||||||
Interest expense | (94 | ) | (94 | ) | (93 | ) | (94 | ) | (375 | ) | (93 | ) | |||||||||||
Interest income | 2 | 2 | 2 | 2 | 8 | 3 | |||||||||||||||||
Other items, net | (2 | ) | (6 | ) | 6 | 9 | 7 | 5 | |||||||||||||||
Earnings from continuing operations before income taxes and equity in loss of investee companies | 677 | 677 | 679 | 632 | 2,665 | 706 | |||||||||||||||||
Provision for income taxes | (218 | ) | (234 | ) | (226 | ) | (200 | ) | (878 | ) | (234 | ) | |||||||||||
Equity in loss of investee companies, net of tax | (9 | ) | (8 | ) | (22 | ) | (10 | ) | (49 | ) | (10 | ) | |||||||||||
Net earnings from continuing operations | 450 | 435 | 431 | 422 | 1,738 | 462 | |||||||||||||||||
Net earnings (loss) from discontinued operations | (7 | ) | 37 | 63 | 48 | 141 | 6 | ||||||||||||||||
Net earnings | $ | 443 | $ | 472 | $ | 494 | $ | 470 | $ | 1,879 | $ | 468 | |||||||||||
Basic net earnings (loss) per common share: | |||||||||||||||||||||||
Net earnings from continuing operations | $ | .72 | $ | .71 | $ | .71 | $ | .70 | $ | 2.86 | $ | .79 | |||||||||||
Net earnings (loss) from discontinued operations | $ | (.01 | ) | $ | .06 | $ | .10 | $ | .08 | $ | .23 | $ | .01 | ||||||||||
Net earnings | $ | .71 | $ | .78 | $ | .82 | $ | .78 | $ | 3.09 | $ | .80 | |||||||||||
Diluted net earnings (loss) per common share: | |||||||||||||||||||||||
Net earnings from continuing operations | $ | .71 | $ | .70 | $ | .70 | $ | .69 | $ | 2.79 | $ | .77 | |||||||||||
Net earnings (loss) from discontinued operations | $ | (.01 | ) | $ | .06 | $ | .10 | $ | .08 | $ | .23 | $ | .01 | ||||||||||
Net earnings | $ | .69 | $ | .76 | $ | .80 | $ | .76 | $ | 3.01 | $ | .78 | |||||||||||
Weighted average number of common shares outstanding: | |||||||||||||||||||||||
Basic | 621 | 609 | 603 | 599 | 608 | 585 | |||||||||||||||||
Diluted | 638 | 624 | 618 | 615 | 624 | 600 | |||||||||||||||||
Pro Forma Per Share Data: (b) | |||||||||||||||||||||||
Pro Forma - Basic net earnings from continuing operations per common share | $ | .78 | $ | .77 | $ | .77 | $ | .76 | $ | 3.09 | $ | .86 | |||||||||||
Pro Forma - Diluted net earnings from continuing operations per common share | $ | .76 | $ | .75 | $ | .75 | $ | .74 | $ | 3.00 | $ | .83 | |||||||||||
Pro Forma weighted average number of common shares outstanding: (c) | |||||||||||||||||||||||
Basic | 576 | 564 | 558 | 554 | 563 | 540 | |||||||||||||||||
Diluted | 593 | 579 | 573 | 570 | 579 | 555 | |||||||||||||||||
(a) The Company presents segment operating income (loss) before depreciation and amortization, restructuring charges and impairment charges, where applicable, ("Segment OIBDA") as the primary measure of profit and loss for its operating segments in accordance with Financial Accounting Standards Board guidance for segment reporting. The Company believes the presentation of Segment OIBDA is relevant and useful for investors because it allows investors to view segment performance in a manner similar to the primary method used by the Company's management and enhances their ability to understand the Company's operating performance.
(b) Pro forma per share data is calculated as net earnings from continuing operations divided by pro forma weighted average number of common shares outstanding.
(c) Pro forma weighted average number of common shares outstanding reflects historical weighted average shares outstanding reduced by 44,723,131 shares of CBS Corp. Class B Common Stock accepted by the Company in exchange for 97,000,000 shares of Outdoor Americas common stock that it owned.