CBS CORPORATION (NYSE:CBS) Files An 8-K Other Events
Item 8.01 Other Events.

During the first quarter of 2018, CBS Corporation (the “Company” or “CBS Corp.”) adopted amended Financial Accounting Standards Board ( “FASB”) guidance on the presentation of net periodic pension and postretirement benefit cost (“net benefit cost”). This guidance requires the Company to present the service cost component of net benefit cost in the same line items on the statement of operations as other compensation costs of the related employees. The other components of net benefit cost, which were previously presented within operating income, are now presented in the statement of operations below the subtotal of operating income. This guidance is required to be applied retrospectively and, accordingly, the Company has recast its consolidated financial statements to conform to this presentation.

Exhibit 99.1 of this Current Report on Form 8-K presents a recast of the following sections of the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 (the “Form 10-K”) to reflect the adoption of the amended FASB guidance on the presentation of net benefit cost: Item 6. Selected Financial Data; Item 7. Management’s Discussion and Analysis of Results of Operations and Financial Condition; and Item 8. Financial Statements and Supplementary Data. Except for information related to the adoption of this FASB guidance, no revisions have been made to the Form 10-K to update for other information, developments or events that have occurred since the Form 10-K was filed with the Securities and Exchange Commission (“SEC”) on February 20, 2018.

This Current Report on Form 8-K should be read in conjunction with the Company’s Form 10-K, Quarterly Report on Form 10-Q for the quarter ended September 30, 2018, Quarterly Report on Form 10-Q for the quarter ended June 30, 2018, Quarterly Report on Form 10-Q for the quarter ended March 31, 2018, Current Reports on Form 8-K and other filings with the SEC. These SEC filings contain important information regarding events, developments and updates affecting the Company and its expectations that have occurred since the filing of the Form 10-K.

This Current Report on Form 8-K is being filed in connection with the Company’s Registration Statement on Form S-4 (Registration No. 333-223415) which was initially filed with the SEC on March 2, 2018, relating to an offer to exchange the Company’s $400,000,000 of 2.9000% Senior Notes due 2023 and $500,000,000 of 3.700% Senior Notes due 2028 (collectively, the “senior notes”) for corresponding issues of SEC-registered senior notes (the “exchange notes”) with terms substantially identical to the senior notes (except that the exchange notes will not be subject to restrictions on transfer).

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits. The following Exhibits are filed as part of this Current Report on Form 8-K:

CBS CORP Exhibit
EX-23.1 2 cbs_ex23-110218.htm EXHIBIT 23.1 Exhibit Exhibit 23.1CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRMWe hereby consent to the incorporation by reference in the Registration Statements on Form S-3 (No. 333-221338) and Forms S-8 (No. 333-55346,…
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About CBS CORPORATION (NYSE:CBS)

CBS Corporation is a mass media company. The Company’s segments include Entertainment, Cable Networks, Publishing and Local Broadcasting. Its Entertainment segment is composed of the CBS Television Network; CBS Television Studios; CBS Global Distribution Group (composed of CBS Studios International and CBS Television Distribution); CBS Interactive, and CBS Films. The Company’s Cable Networks segment is composed of Showtime Networks; CBS Sports Network, and Smithsonian Networks. The Publishing segment is composed of Simon & Schuster, which publishes and distributes consumer books under imprints, such as Simon & Schuster, Pocket Books, Scribner, Gallery Books, Touchstone and Atria Books. The Local Broadcasting segment is composed of CBS Television Stations, its approximately 30 owned broadcast television stations, and CBS Radio, through which it owns and operates radio stations in the United States markets. It operates businesses, which span the media and entertainment industries.