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

Intangible Assets (Tables)

Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Changes In The Carrying Amount Of Goodwill


	QVC		zulily	Corporate and Other	Total
	amounts in millions
Balance at January 1, 2015	$	5,206	—	198	5,404
Acquisitions		—	860	10	870
Sale of subsidiary		—	—	(105)	(105)
Foreign currency translation adjustments		(57)	—	—	(57)
Balance at December 31, 2015		5,149	860	103	6,112
Acquisition (1)		—	57	—	57
Disposition (2)		—	—	(78)	(78)
Foreign currency translation adjustments		(39)	—	—	(39)
Balance at December 31, 2016	$	5,110	917	25	6,052

(1)

Subsequent to December 31, 2015, the preliminary purchase price allocation for the zulily acquisition was adjusted, resulting in a $57 million increase to goodwill.

(2)

As discussed in note 6, Liberty completed the CommerceHub Spin-Off on July 22, 2016, resulting in a $21 million decrease to goodwill. In addition, as discussed in note 6, Liberty completed the Expedia Holdings Split-Off on November 4, 2016, resulting in a $57 million decrease to goodwill related to Bodybuilding.

Schedule of Intangible assets subject to amortization


	December 31, 2016				December 31, 2015
	Gross			Net	Gross		Net
	carrying		Accumulated	carrying	carrying	Accumulated	carrying
	amount		amortization	amount	amount	amortization	amount
	amounts in millions
Television distribution rights	$	2,279	(2,095)	184	2,259	(1,920)	339
Customer relationships		2,910	(2,394)	516	2,950	(2,141)	809
Other		965	(660)	305	1,077	(578)	499
Total	$	6,154	(5,149)	1,005	6,286	(4,639)	1,647

Amortization Expense For The Next Five Fiscal Years

Based on its amortizable intangible assets as of December 31, 2016, Liberty expects that amortization expense will be as follows for the next five years (amounts in millions):


2017	$	518
2018	$	252
2019	$	122
2020	$	63
2021	$	50