Qurate Retail, Inc. Annual report pursuant to Section 13 and 15(d)

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015


	Years ended December 31,
	2015		2014	2013
	amounts in millions
Computed expected tax benefit (expense)	$	(439)	(293)	(258)
State and local income taxes, net of federal income taxes		(24)	(7)	(15)
Foreign taxes, net of foreign tax credits		(4)	(2)	(7)
Sale of consolidated subsidiary		—	14	—
Impairment of intangible assets not deductible for tax purposes		—	(3)	(2)
Dividends received deductions		56	10	9
Alternative energy tax credits		61	58	54
Change in valuation allowance affecting tax expense		6	(2)	(27)
Impact of change in state rate on deferred taxes		(7)	(28)	66
Other, net		9	(5)	(3)
Income tax benefit (expense)	$	(342)	(258)	(183)


	December 31,
	2015		2014
	amounts in millions
Deferred tax assets:
Net operating and capital loss carryforwards	$	99	90
Foreign tax credit carryforwards		72	88
Accrued stock compensation		83	41
Other accrued liabilities		165	181
Other future deductible amounts		163	96
Deferred tax assets		582	496
Valuation allowance		(48)	(54)
Net deferred tax assets		534	442

Deferred tax liabilities:
Investments		883	703
Intangible assets		1,788	1,284
Discount on exchangeable debentures		1,148	1,009
Deferred gain on debt retirements		193	257
Other		24	10
Deferred tax liabilities		4,036	3,263
Net deferred tax liabilities	$	3,502	2,821


	Years ended December 31,
	2015		2014	2013
	amounts in millions
Balance at beginning of year	$	136	124	122
Additions based on tax positions related to the current year		14	16	19
Additions for tax positions of prior years		—	20	1
Reductions for tax positions of prior years		(12)	(3)	(3)
Lapse of statute and settlements		(34)	(21)	(15)
Balance at end of year	$	104	136	124