Viacom Inc.

CIK:0001339947|SEC Filings

CONSOLIDATED STATEMENTS OF EARNINGS - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
Income Statement [Abstract]
Revenues	$ 12,838	$ 12,943	$ 13,263
Expenses:
Operating	6,838	6,879	7,436
Selling, general and administrative	3,146	3,054	3,002
Depreciation and amortization	215	213	223
Restructuring and Other Corporate Matters Expense	177	225	237
Total expenses	10,376	10,371	10,898
Gain on asset sale	0	0	127
Operating income	2,462	2,572	2,492
Interest expense, net	(489)	(560)	(618)
Equity in net earnings of investee companies	10	9	81
Gain on sale of EPIX	0	0	285
Other items, net	24	(24)	(28)
Earnings from continuing operations before provision for income taxes	2,007	1,997	2,212
Provision for income taxes	(445)	(269)	(293)
Net earnings from continuing operations	1,562	1,728	1,919
Discontinued operations, net of tax	26	31	3
Net earnings (Viacom and noncontrolling interests)	1,588	1,759	1,922
Net earnings attributable to noncontrolling interests	(40)	(40)	(48)
Net earnings attributable to Viacom	1,548	1,719	1,874
Amounts attributable to Viacom:
Net earnings from continuing operations	1,522	1,688	1,871
Discontinued operations, net of tax	26	31	3
Net earnings attributable to Viacom	$ 1,548	$ 1,719	$ 1,874
Basic earnings per share attributable to Viacom:
Continuing operations (in usd per share)	$ 3.77	$ 4.19	$ 4.68
Discontinued operations (in usd per share)	0.07	0.08	0.01
Net earnings (in usd per share)	3.84	4.27	4.69
Diluted earnings per share attributable to Viacom:
Continuing operations (in usd per share)	3.77	4.19	4.67
Discontinued operations (in usd per share)	0.06	0.08	0.01
Net earnings (in usd per share)	$ 3.83	$ 4.27	$ 4.68
Weighted average number of common shares outstanding:
Basic (shares)	403.4	402.7	399.9
Diluted (shares)	403.8	403.0	400.6

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2017
OPERATING ACTIVITIES [Abstract]
Net earnings (Viacom and noncontrolling interests)	$ 1,588	$ 1,759	$ 1,922
Discontinued operations, net of tax	(26)	(31)	(3)
Net earnings from continuing operations (Viacom and noncontrolling interests)	1,562	1,728	1,919
Reconciling items:
Depreciation and amortization	215	213	223
Feature film and program amortization	4,539	4,785	4,739
Equity-based compensation	64	57	68
Gain on marketable securities	(32)	0	0
Gain on asset sales	0	(16)	(412)
Deferred income taxes	40	(45)	(174)
Operating assets and liabilities, net of acquisitions:
Receivables	(196)	(250)	(132)
Production and programming	(4,664)	(4,606)	(4,412)
Accounts payable and other current liabilities	120	(45)	(207)
Other, net	(72)	1	93
Net cash provided by operating activities	1,576	1,822	1,705
INVESTING ACTIVITIES
Acquisitions and investments, net	(424)	(112)	(378)
Capital expenditures	(194)	(178)	(195)
Proceeds received from asset sales	5	57	848
Grantor trust proceeds	(5)	(9)	(54)
Net cash provided by/(used in) investing activities	(608)	(224)	329
FINANCING ACTIVITIES
Borrowings	0	0	2,569
Debt repayments	(1,320)	(1,000)	(3,352)
Dividends paid	(322)	(322)	(319)
Exercise of stock options	0	2	172
Other, net	(102)	(90)	(114)
Net cash used in financing activities	(1,744)	(1,410)	(1,044)
Effect of exchange rate changes on cash and cash equivalents	(21)	(20)	20
Net change in cash and cash equivalents	(797)	168	1,010
Cash and cash equivalents at beginning of period	1,557	1,389	379
Cash and cash equivalents at end of period	$ 760	$ 1,557	$ 1,389

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2018
Current assets:
Cash and cash equivalents	$ 760	$ 1,557
Receivables, net	3,299	3,141
Inventory, net	775	896
Prepaid and other assets	460	482
Total current assets	5,294	6,076
Property and equipment, net	922	919
Inventory, net	4,023	3,848
Goodwill	11,857	11,609
Intangibles, net	354	313
Other assets	1,221	1,018
Total assets	23,671	23,783
Current liabilities:
Accounts payable	482	433
Accrued expenses	927	848
Participants' share and residuals	740	719
Program obligations	667	662
Deferred revenue	438	398
Current portion of debt	98	567
Other liabilities	472	427
Total current liabilities	3,824	4,054
Noncurrent portion of debt	8,640	9,515
Participants' share and residuals	492	523
Program obligations	297	498
Deferred tax liabilities, net	265	296
Other liabilities	1,392	1,186
Redeemable noncontrolling interest	241	246
Commitments and contingencies
Viacom stockholders' equity:
Additional paid-in capital	10,181	10,145
Treasury stock, 392.5 and 393.1 common shares held in treasury, respectively	(20,541)	(20,562)
Retained earnings	19,887	18,561
Accumulated other comprehensive loss	(1,073)	(737)
Total Viacom stockholders' equity	8,454	7,407
Noncontrolling interests	66	58
Total equity	8,520	7,465
Total liabilities and equity	23,671	23,783
Common stock, Class A
Viacom stockholders' equity:
Common stock value	0	0
Common stock, Class B
Viacom stockholders' equity:
Common stock value	$ 0	$ 0