Financial Information for Tracking Stock Groups (Tables)
|
12 Months Ended |
Dec. 31, 2017 |
|---|
| Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
|
| Condensed Balance Sheet |
BALANCE SHEET INFORMATION
December 31, 2017
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Attributed (note 1)
|
|
|
|
|
|
|
QVC
|
|
Ventures
|
|
Consolidated
|
|
|
|
|
Group
|
|
Group
|
|
Liberty
|
|
|
|
|
amounts in millions
|
|
|
Assets
|
|
|
|
|
|
|
|
|
|
Current assets:
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
330
|
|
573
|
|
903
|
|
|
Trade and other receivables, net
|
|
|
1,719
|
|
7
|
|
1,726
|
|
|
Inventory, net
|
|
|
1,411
|
|
—
|
|
1,411
|
|
|
Other current assets
|
|
|
122
|
|
3
|
|
125
|
|
|
Total current assets
|
|
|
3,582
|
|
583
|
|
4,165
|
|
|
Investments in available-for-sale securities and other cost investments (note 1)
|
|
|
3
|
|
2,360
|
|
2,363
|
|
|
Investments in affiliates, accounted for using the equity method (note 1)
|
|
|
40
|
|
269
|
|
309
|
|
|
Investment in Liberty Broadband measured at fair value (note 1)
|
|
|
—
|
|
3,635
|
|
3,635
|
|
|
Property and equipment, net
|
|
|
1,340
|
|
1
|
|
1,341
|
|
|
Intangible assets not subject to amortization
|
|
|
10,982
|
|
29
|
|
11,011
|
|
|
Intangible assets subject to amortization, net
|
|
|
1,244
|
|
4
|
|
1,248
|
|
|
Other assets, at cost, net of accumulated amortization
|
|
|
46
|
|
4
|
|
50
|
|
|
Total assets
|
|
$
|
17,237
|
|
6,885
|
|
24,122
|
|
|
Liabilities and Equity
|
|
|
|
|
|
|
|
|
|
Current liabilities:
|
|
|
|
|
|
|
|
|
|
Intergroup payable (receivable)
|
|
$
|
51
|
|
(51)
|
|
—
|
|
|
Accounts payable
|
|
|
1,150
|
|
1
|
|
1,151
|
|
|
Accrued liabilities
|
|
|
1,097
|
|
28
|
|
1,125
|
|
|
Current portion of debt (note 1)
|
|
|
17
|
|
979
|
|
996
|
|
|
Other current liabilities
|
|
|
167
|
|
2
|
|
169
|
|
|
Total current liabilities
|
|
|
2,482
|
|
959
|
|
3,441
|
|
|
Long-term debt (note 1)
|
|
|
6,686
|
|
867
|
|
7,553
|
|
|
Deferred income tax liabilities (note 3)
|
|
|
994
|
|
1,809
|
|
2,803
|
|
|
Other liabilities
|
|
|
147
|
|
95
|
|
242
|
|
|
Total liabilities
|
|
|
10,309
|
|
3,730
|
|
14,039
|
|
|
Equity/Attributed net assets (liabilities)
|
|
|
6,819
|
|
3,165
|
|
9,984
|
|
|
Noncontrolling interests in equity of subsidiaries
|
|
|
109
|
|
(10)
|
|
99
|
|
|
Total liabilities and equity
|
|
$
|
17,237
|
|
6,885
|
|
24,122
|
|
BALANCE SHEET INFORMATION
December 31, 2016
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Attributed (note 1)
|
|
|
|
|
|
|
QVC
|
|
Ventures
|
|
Consolidated
|
|
|
|
|
Group
|
|
Group
|
|
Liberty
|
|
|
|
|
amounts in millions
|
|
|
Assets
|
|
|
|
|
|
|
|
|
|
Current assets:
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$
|
338
|
|
487
|
|
825
|
|
|
Trade and other receivables, net
|
|
|
1,270
|
|
38
|
|
1,308
|
|
|
Inventory, net
|
|
|
968
|
|
—
|
|
968
|
|
|
Other current assets
|
|
|
66
|
|
2
|
|
68
|
|
|
Total current assets
|
|
|
2,642
|
|
527
|
|
3,169
|
|
|
Investments in available-for-sale securities and other cost investments (note 1)
|
|
|
4
|
|
1,918
|
|
1,922
|
|
|
Investments in affiliates, accounted for using the equity method (note 1)
|
|
|
224
|
|
357
|
|
581
|
|
|
Investment in Liberty Broadband measured at fair value (note 1)
|
|
|
—
|
|
3,161
|
|
3,161
|
|
|
Property and equipment, net
|
|
|
1,131
|
|
—
|
|
1,131
|
|
|
Intangible assets not subject to amortization
|
|
|
9,325
|
|
29
|
|
9,354
|
|
|
Intangible assets subject to amortization, net
|
|
|
1,001
|
|
4
|
|
1,005
|
|
|
Other assets, at cost, net of accumulated amortization
|
|
|
30
|
|
2
|
|
32
|
|
|
Total assets
|
|
$
|
14,357
|
|
5,998
|
|
20,355
|
|
|
Liabilities and Equity
|
|
|
|
|
|
|
|
|
|
Current liabilities:
|
|
|
|
|
|
|
|
|
|
Intergroup payable (receivable)
|
|
$
|
113
|
|
(113)
|
|
—
|
|
|
Accounts payable
|
|
|
789
|
|
1
|
|
790
|
|
|
Accrued liabilities
|
|
|
684
|
|
22
|
|
706
|
|
|
Current portion of debt (note 1)
|
|
|
14
|
|
862
|
|
876
|
|
|
Other current liabilities
|
|
|
160
|
|
2
|
|
162
|
|
|
Total current liabilities
|
|
|
1,760
|
|
774
|
|
2,534
|
|
|
Long-term debt (note 1)
|
|
|
6,361
|
|
805
|
|
7,166
|
|
|
Deferred income tax liabilities (note 3)
|
|
|
1,116
|
|
2,520
|
|
3,636
|
|
|
Other liabilities
|
|
|
161
|
|
(3)
|
|
158
|
|
|
Total liabilities
|
|
|
9,398
|
|
4,096
|
|
13,494
|
|
|
Equity/Attributed net assets (liabilities)
|
|
|
4,860
|
|
1,912
|
|
6,772
|
|
|
Noncontrolling interests in equity of subsidiaries
|
|
|
99
|
|
(10)
|
|
89
|
|
|
Total liabilities and equity
|
|
$
|
14,357
|
|
5,998
|
|
20,355
|
|
|
| Condensed Income Statement |
STATEMENT OF OPERATIONS INFORMATION
Year ended December 31, 2017
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Attributed (note 1)
|
|
|
|
|
|
|
QVC
|
|
Ventures
|
|
Consolidated
|
|
|
|
|
Group
|
|
Group
|
|
Liberty
|
|
|
|
|
amounts in millions
|
|
|
Total revenue, net
|
|
$
|
10,381
|
|
23
|
|
10,404
|
|
|
Operating costs and expenses:
|
|
|
|
|
|
|
|
|
|
Cost of retail sales (exclusive of depreciation shown separately below)
|
|
|
6,789
|
|
—
|
|
6,789
|
|
|
Operating expense
|
|
|
648
|
|
11
|
|
659
|
|
|
Selling, general and administrative, including stock-based compensation (note 2)
|
|
|
1,088
|
|
65
|
|
1,153
|
|
|
Acquisition and restructuring charges
|
|
|
35
|
|
—
|
|
35
|
|
|
Depreciation and amortization
|
|
|
721
|
|
4
|
|
725
|
|
|
|
|
|
9,281
|
|
80
|
|
9,361
|
|
|
Operating income (loss)
|
|
|
1,100
|
|
(57)
|
|
1,043
|
|
|
Other income (expense):
|
|
|
|
|
|
|
|
|
|
Interest expense
|
|
|
(293)
|
|
(62)
|
|
(355)
|
|
|
Share of earnings (losses) of affiliates, net
|
|
|
38
|
|
(238)
|
|
(200)
|
|
|
Realized and unrealized gains (losses) on financial instruments, net
|
|
|
—
|
|
618
|
|
618
|
|
|
Gains (losses) on transactions, net
|
|
|
409
|
|
1
|
|
410
|
|
|
Other, net
|
|
|
(3)
|
|
10
|
|
7
|
|
|
|
|
|
151
|
|
329
|
|
480
|
|
|
Earnings (loss) from continuing operations before income taxes
|
|
|
1,251
|
|
272
|
|
1,523
|
|
|
Income tax benefit (expense) (note 3)
|
|
|
3
|
|
961
|
|
964
|
|
|
Net earnings (loss)
|
|
|
1,254
|
|
1,233
|
|
2,487
|
|
|
Less net earnings (loss) attributable to noncontrolling interests
|
|
|
46
|
|
—
|
|
46
|
|
|
Net earnings (loss) attributable to Liberty Interactive Corporation shareholders
|
|
$
|
1,208
|
|
1,233
|
|
2,441
|
|
STATEMENT OF OPERATIONS INFORMATION
Year ended December 31, 2016
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Attributed (note 1)
|
|
|
|
|
|
|
QVC
|
|
Ventures
|
|
Consolidated
|
|
|
|
|
Group
|
|
Group
|
|
Liberty
|
|
|
|
|
|
amounts in millions
|
|
|
Total revenue, net
|
|
$
|
10,219
|
|
428
|
|
10,647
|
|
|
Operating costs and expenses:
|
|
|
|
|
|
|
|
|
|
Cost of retail sales (exclusive of depreciation shown separately below)
|
|
|
6,642
|
|
266
|
|
6,908
|
|
|
Operating expense
|
|
|
653
|
|
54
|
|
707
|
|
|
Selling, general and administrative, including stock-based compensation (note 2)
|
|
|
1,063
|
|
127
|
|
1,190
|
|
|
Depreciation and amortization
|
|
|
850
|
|
24
|
|
874
|
|
|
|
|
|
9,208
|
|
471
|
|
9,679
|
|
|
Operating income (loss)
|
|
|
1,011
|
|
(43)
|
|
968
|
|
|
Other income (expense):
|
|
|
|
|
|
|
|
|
|
Interest expense
|
|
|
(289)
|
|
(74)
|
|
(363)
|
|
|
Share of earnings (losses) of affiliates, net
|
|
|
42
|
|
(110)
|
|
(68)
|
|
|
Realized and unrealized gains (losses) on financial instruments, net
|
|
|
2
|
|
1,173
|
|
1,175
|
|
|
Gains (losses) on transactions, net
|
|
|
—
|
|
9
|
|
9
|
|
|
Other, net
|
|
|
42
|
|
89
|
|
131
|
|
|
|
|
|
(203)
|
|
1,087
|
|
884
|
|
|
Earnings (loss) from continuing operations before income taxes
|
|
|
808
|
|
1,044
|
|
1,852
|
|
|
Income tax benefit (expense) (note 3)
|
|
|
(297)
|
|
(301)
|
|
(598)
|
|
|
Earnings (loss) from continuing operations
|
|
|
511
|
|
743
|
|
1,254
|
|
|
Earnings (loss) from discontinued operations, net of taxes
|
|
|
—
|
|
20
|
|
20
|
|
|
Net earnings (loss)
|
|
|
511
|
|
763
|
|
1,274
|
|
|
Less net earnings (loss) attributable to noncontrolling interests
|
|
|
38
|
|
1
|
|
39
|
|
|
Net earnings (loss) attributable to Liberty Interactive Corporation shareholders
|
|
$
|
473
|
|
762
|
|
1,235
|
|
STATEMENT OF OPERATIONS INFORMATION
Year ended December 31, 2015
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Attributed (note 1)
|
|
|
|
|
|
|
QVC
|
|
Ventures
|
|
Consolidated
|
|
|
|
|
Group
|
|
Group
|
|
Liberty
|
|
|
|
|
amounts in millions
|
|
|
Total revenue, net
|
|
$
|
9,169
|
|
820
|
|
9,989
|
|
|
Operating costs and expenses:
|
|
|
|
|
|
|
|
|
|
Cost of retail sales (exclusive of depreciation shown separately below)
|
|
|
5,847
|
|
546
|
|
6,393
|
|
|
Operating expense
|
|
|
620
|
|
79
|
|
699
|
|
|
Selling, general and administrative, including stock-based compensation (note 2)
|
|
|
875
|
|
203
|
|
1,078
|
|
|
Depreciation and amortization
|
|
|
657
|
|
46
|
|
703
|
|
|
|
|
|
7,999
|
|
874
|
|
8,873
|
|
|
Operating income (loss)
|
|
|
1,170
|
|
(54)
|
|
1,116
|
|
|
Other income (expense):
|
|
|
|
|
|
|
|
|
|
Interest expense
|
|
|
(283)
|
|
(77)
|
|
(360)
|
|
|
Share of earnings (losses) of affiliates, net
|
|
|
55
|
|
(233)
|
|
(178)
|
|
|
Realized and unrealized gains (losses) on financial instruments, net
|
|
|
42
|
|
72
|
|
114
|
|
|
Gains (losses) on transactions, net
|
|
|
—
|
|
110
|
|
110
|
|
|
Other, net
|
|
|
(6)
|
|
20
|
|
14
|
|
|
|
|
|
(192)
|
|
(108)
|
|
(300)
|
|
|
Earnings (loss) before income taxes
|
|
|
978
|
|
(162)
|
|
816
|
|
|
Income tax benefit (expense) (note 3)
|
|
|
(304)
|
|
119
|
|
(185)
|
|
|
Earnings (loss) from continuing operations
|
|
|
674
|
|
(43)
|
|
631
|
|
|
Earnings (loss) from discontinued operations, net of taxes
|
|
|
—
|
|
280
|
|
280
|
|
|
Net earnings (loss)
|
|
|
674
|
|
237
|
|
911
|
|
|
Less net earnings (loss) attributable to noncontrolling interests
|
|
|
34
|
|
8
|
|
42
|
|
|
Net earnings (loss) attributable to Liberty Interactive Corporation shareholders
|
|
$
|
640
|
|
229
|
|
869
|
|
|
| Condensed Cash Flow Statement |
STATEMENT OF CASH FLOWS INFORMATION
Year ended December 31, 2017
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Attributed (note 1)
|
|
|
|
|
|
|
QVC Group
|
|
Ventures Group
|
|
Consolidated Liberty
|
|
|
|
|
amounts in millions
|
|
|
Cash flows from operating activities:
|
|
|
|
|
|
|
|
|
|
Net earnings (loss)
|
|
$
|
1,254
|
|
1,233
|
|
2,487
|
|
|
Adjustments to reconcile net earnings to net cash provided by operating activities:
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization
|
|
|
721
|
|
4
|
|
725
|
|
|
Stock-based compensation
|
|
|
97
|
|
26
|
|
123
|
|
|
Share of (earnings) losses of affiliates, net
|
|
|
(38)
|
|
238
|
|
200
|
|
|
Cash receipts from returns on equity investments
|
|
|
28
|
|
1
|
|
29
|
|
|
Realized and unrealized (gains) losses on financial instruments, net
|
|
|
—
|
|
(618)
|
|
(618)
|
|
|
(Gains) losses on transactions, net
|
|
|
(409)
|
|
(1)
|
|
(410)
|
|
|
Deferred income tax expense (benefit)
|
|
|
(421)
|
|
(715)
|
|
(1,136)
|
|
|
Intergroup tax allocation
|
|
|
266
|
|
(266)
|
|
—
|
|
|
Intergroup tax payments
|
|
|
(288)
|
|
288
|
|
—
|
|
|
Other noncash charges (credits), net
|
|
|
7
|
|
3
|
|
10
|
|
|
Changes in operating assets and liabilities
|
|
|
|
|
|
|
|
|
|
Current and other assets
|
|
|
(177)
|
|
34
|
|
(143)
|
|
|
Payables and other liabilities
|
|
|
182
|
|
43
|
|
225
|
|
|
Net cash provided (used) by operating activities
|
|
|
1,222
|
|
270
|
|
1,492
|
|
|
Cash flows from investing activities:
|
|
|
|
|
|
|
|
|
|
Cash paid for acquisitions, net of cash acquired
|
|
|
22
|
|
—
|
|
22
|
|
|
Cash proceeds from dispositions of investments
|
|
|
2
|
|
1
|
|
3
|
|
|
Investment in and loans to cost and equity investees
|
|
|
—
|
|
(159)
|
|
(159)
|
|
|
Capital expended for property and equipment
|
|
|
(201)
|
|
(3)
|
|
(204)
|
|
|
Other investing activities, net
|
|
|
(52)
|
|
(1)
|
|
(53)
|
|
|
Net cash provided (used) by investing activities
|
|
|
(229)
|
|
(162)
|
|
(391)
|
|
|
Cash flows from financing activities:
|
|
|
|
|
|
|
|
|
|
Borrowings of debt
|
|
|
2,469
|
|
—
|
|
2,469
|
|
|
Repayments of debt
|
|
|
(2,618)
|
|
(13)
|
|
(2,631)
|
|
|
Repurchases of QVC Group common stock
|
|
|
(765)
|
|
—
|
|
(765)
|
|
|
Withholding taxes on net share settlements of stock-based compensation
|
|
|
(43)
|
|
(27)
|
|
(70)
|
|
|
Other financing activities, net
|
|
|
(57)
|
|
18
|
|
(39)
|
|
|
Net cash provided (used) by financing activities
|
|
|
(1,014)
|
|
(22)
|
|
(1,036)
|
|
|
Effect of foreign currency exchange rates on cash
|
|
|
13
|
|
—
|
|
13
|
|
|
Net increase (decrease) in cash and cash equivalents
|
|
|
(8)
|
|
86
|
|
78
|
|
|
Cash and cash equivalents at beginning of period
|
|
|
338
|
|
487
|
|
825
|
|
|
Cash and cash equivalents at end of period
|
|
$
|
330
|
|
573
|
|
903
|
|
STATEMENT OF CASH FLOWS INFORMATION
Year ended December 31, 2016
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Attributed (note 1)
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated
|
|
|
|
|
QVC Group
|
|
Ventures Group
|
|
Liberty
|
|
|
|
|
amounts in millions
|
|
|
Cash flows from operating activities:
|
|
|
|
|
|
|
|
|
|
Net earnings (loss)
|
|
$
|
511
|
|
763
|
|
1,274
|
|
|
Adjustments to reconcile net earnings to net cash provided by operating activities:
|
|
|
|
|
|
|
|
|
|
(Earnings) loss from discontinued operations
|
|
|
—
|
|
(20)
|
|
(20)
|
|
|
Depreciation and amortization
|
|
|
850
|
|
24
|
|
874
|
|
|
Stock-based compensation
|
|
|
75
|
|
22
|
|
97
|
|
|
Cash payments for stock-based compensation
|
|
|
—
|
|
(92)
|
|
(92)
|
|
|
Noncash interest expense
|
|
|
3
|
|
9
|
|
12
|
|
|
Share of (earnings) losses of affiliates, net
|
|
|
(42)
|
|
110
|
|
68
|
|
|
Cash receipts from returns on equity investments
|
|
|
28
|
|
3
|
|
31
|
|
|
Realized and unrealized (gains) losses on financial instruments, net
|
|
|
(2)
|
|
(1,173)
|
|
(1,175)
|
|
|
(Gains) losses on transactions, net
|
|
|
—
|
|
(9)
|
|
(9)
|
|
|
(Gains) losses on extinguishment of debt
|
|
|
(1)
|
|
7
|
|
6
|
|
|
Deferred income tax expense (benefit)
|
|
|
(199)
|
|
672
|
|
473
|
|
|
Intergroup tax allocation
|
|
|
360
|
|
(360)
|
|
—
|
|
|
Intergroup tax payments
|
|
|
(301)
|
|
301
|
|
—
|
|
|
Other noncash charges (credits), net
|
|
|
(33)
|
|
(82)
|
|
(115)
|
|
|
Changes in operating assets and liabilities
|
|
|
|
|
|
|
|
|
|
Current and other assets
|
|
|
92
|
|
44
|
|
136
|
|
|
Payables and other liabilities
|
|
|
(68)
|
|
(49)
|
|
(117)
|
|
|
Net cash provided (used) by operating activities
|
|
|
1,273
|
|
170
|
|
1,443
|
|
|
Cash flows from investing activities:
|
|
|
|
|
|
|
|
|
|
Cash proceeds from dispositions
|
|
|
—
|
|
353
|
|
353
|
|
|
Investment in and loans to cost and equity investees
|
|
|
—
|
|
(86)
|
|
(86)
|
|
|
Capital expended for property and equipment
|
|
|
(206)
|
|
(27)
|
|
(233)
|
|
|
Purchases of short term investments and other marketable securities
|
|
|
—
|
|
(264)
|
|
(264)
|
|
|
Sales of short term investments and other marketable securities
|
|
|
12
|
|
1,162
|
|
1,174
|
|
|
Investment in Liberty Broadband
|
|
|
—
|
|
(2,400)
|
|
(2,400)
|
|
|
Other investing activities, net
|
|
|
(44)
|
|
8
|
|
(36)
|
|
|
Net cash provided (used) by investing activities
|
|
|
(238)
|
|
(1,254)
|
|
(1,492)
|
|
|
Cash flows from financing activities:
|
|
|
|
|
|
|
|
|
|
Borrowings of debt
|
|
|
1,905
|
|
1,522
|
|
3,427
|
|
|
Repayments of debt
|
|
|
(2,178)
|
|
(2,320)
|
|
(4,498)
|
|
|
Repurchases of QVC Group common stock
|
|
|
(799)
|
|
—
|
|
(799)
|
|
|
Withholding taxes on net share settlements of stock-based compensation
|
|
|
(15)
|
|
(1)
|
|
(16)
|
|
|
Distribution from Liberty Expedia Holdings
|
|
|
—
|
|
299
|
|
299
|
|
|
Other financing activities, net
|
|
|
(16)
|
|
31
|
|
15
|
|
|
Net cash provided (used) by financing activities
|
|
|
(1,103)
|
|
(469)
|
|
(1,572)
|
|
|
Effect of foreign currency exchange rates on cash
|
|
|
(20)
|
|
—
|
|
(20)
|
|
|
Net cash provided (used) by discontinued operations:
|
|
|
|
|
|
|
|
|
|
Cash provided (used) by operating activities
|
|
|
—
|
|
17
|
|
17
|
|
|
Cash provided (used) by investing activities
|
|
|
—
|
|
—
|
|
—
|
|
|
Cash provided (used) by financing activities
|
|
|
—
|
|
—
|
|
—
|
|
|
Change in available cash held by discontinued operations
|
|
|
—
|
|
—
|
|
—
|
|
|
Net cash provided (used) by discontinued operations
|
|
|
—
|
|
17
|
|
17
|
|
|
Net increase (decrease) in cash and cash equivalents
|
|
|
(88)
|
|
(1,536)
|
|
(1,624)
|
|
|
Cash and cash equivalents at beginning of period
|
|
|
426
|
|
2,023
|
|
2,449
|
|
|
Cash and cash equivalents at end of period
|
|
$
|
338
|
|
487
|
|
825
|
|
STATEMENT OF CASH FLOWS INFORMATION
Year ended December 31, 2015
(unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Attributed (note 1)
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated
|
|
|
|
|
QVC Group
|
|
Ventures Group
|
|
Liberty
|
|
|
|
|
amounts in millions
|
|
|
Cash flows from operating activities:
|
|
|
|
|
|
|
|
|
|
Net earnings (loss)
|
|
$
|
674
|
|
237
|
|
911
|
|
|
Adjustments to reconcile net earnings to net cash provided by operating activities:
|
|
|
|
|
|
|
|
|
|
(Earnings) loss from discontinued operations
|
|
|
—
|
|
(280)
|
|
(280)
|
|
|
Depreciation and amortization
|
|
|
657
|
|
46
|
|
703
|
|
|
Stock-based compensation
|
|
|
60
|
|
67
|
|
127
|
|
|
Cash payments for stock-based compensation
|
|
|
—
|
|
(16)
|
|
(16)
|
|
|
Noncash interest expense
|
|
|
6
|
|
(1)
|
|
5
|
|
|
Share of losses (earnings) of affiliates, net
|
|
|
(55)
|
|
233
|
|
178
|
|
|
Cash receipts from return on equity investments
|
|
|
22
|
|
10
|
|
32
|
|
|
Realized and unrealized gains (losses) on financial instruments, net
|
|
|
(42)
|
|
(72)
|
|
(114)
|
|
|
(Gains) losses on transactions, net
|
|
|
—
|
|
(110)
|
|
(110)
|
|
|
(Gains) losses on extinguishment of debt
|
|
|
21
|
|
—
|
|
21
|
|
|
Deferred income tax (benefit) expense
|
|
|
(122)
|
|
19
|
|
(103)
|
|
|
Intergroup tax allocation
|
|
|
141
|
|
(141)
|
|
—
|
|
|
Intergroup tax payments
|
|
|
(101)
|
|
101
|
|
—
|
|
|
Other noncash charges (credits), net
|
|
|
(14)
|
|
3
|
|
(11)
|
|
|
Changes in operating assets and liabilities
|
|
|
|
|
|
|
|
|
|
Current and other assets
|
|
|
(245)
|
|
8
|
|
(237)
|
|
|
Payables and other current liabilities
|
|
|
3
|
|
(47)
|
|
(44)
|
|
|
Net cash provided (used) by operating activities
|
|
|
1,005
|
|
57
|
|
1,062
|
|
|
Cash flows from investing activities:
|
|
|
|
|
|
|
|
|
|
Cash paid for acquisitions, net of cash acquired
|
|
|
(824)
|
|
(20)
|
|
(844)
|
|
|
Cash proceeds from dispositions
|
|
|
—
|
|
271
|
|
271
|
|
|
Investments in and loans to cost and equity investees
|
|
|
—
|
|
(120)
|
|
(120)
|
|
|
Cash receipts from returns of equity investments
|
|
|
200
|
|
50
|
|
250
|
|
|
Capital expended for property and equipment
|
|
|
(218)
|
|
(40)
|
|
(258)
|
|
|
Purchases of short term and other marketable securities
|
|
|
(184)
|
|
(1,186)
|
|
(1,370)
|
|
|
Sales of short term investments and other marketable securities
|
|
|
193
|
|
1,166
|
|
1,359
|
|
|
Other investing activities, net
|
|
|
(76)
|
|
—
|
|
(76)
|
|
|
Net cash provided (used) by investing activities
|
|
|
(909)
|
|
121
|
|
(788)
|
|
|
Cash flows from financing activities:
|
|
|
|
|
|
|
|
|
|
Borrowings of debt
|
|
|
3,969
|
|
589
|
|
4,558
|
|
|
Repayments of debt
|
|
|
(3,244)
|
|
(567)
|
|
(3,811)
|
|
|
Repurchases of QVC Group common stock
|
|
|
(785)
|
|
—
|
|
(785)
|
|
|
Minimum withholding taxes on net share settlements of stock-based compensation
|
|
|
(25)
|
|
(5)
|
|
(30)
|
|
|
Other financing activities, net
|
|
|
(4)
|
|
(50)
|
|
(54)
|
|
|
Net cash provided (used) by financing activities
|
|
|
(89)
|
|
(33)
|
|
(122)
|
|
|
Effect of foreign currency rates on cash
|
|
|
(3)
|
|
—
|
|
(3)
|
|
|
Net cash provided (used) by discontinued operations:
|
|
|
|
|
|
|
|
|
|
Cash provided (used) by operating activities
|
|
|
—
|
|
17
|
|
17
|
|
|
Cash provided (used) by investing activities
|
|
|
—
|
|
(23)
|
|
(23)
|
|
|
Cash provided (used) by financing activities
|
|
|
—
|
|
—
|
|
—
|
|
|
Change in available cash held by discontinued operations
|
|
|
—
|
|
—
|
|
—
|
|
|
Net cash provided (used) by discontinued operations
|
|
|
—
|
|
(6)
|
|
(6)
|
|
|
Net increase (decrease) in cash and cash equivalents
|
|
|
4
|
|
139
|
|
143
|
|
|
Cash and cash equivalents at beginning of period
|
|
|
422
|
|
1,884
|
|
2,306
|
|
|
Cash and cash equivalents at end period
|
|
$
|
426
|
|
2,023
|
|
2,449
|
|
|