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

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2018


	Years ended December 31,
	2018		2017	2016
	amounts in millions
Computed expected tax benefit (expense)	$	(186)	(367)	(382)
State and local income taxes, net of federal income taxes		(13)	(16)	(11)
Foreign taxes, net of foreign tax credits		(5)	(32)	(9)
Dividends received deductions		—	10	9
Alternative energy tax credits and incentives		92	85	94
Change in valuation allowance affecting tax expense		9	(100)	(16)
Change in tax rate due to Tax Act		—	1,317	—
Change in state tax rate		61	(71)	1
Consolidation of equity investment		—	138	—
Other, net		(18)	21	(2)
Income tax benefit (expense)	$	(60)	985	(316)


	December 31,
	2018		2017
	amounts in millions
Deferred tax assets:
Tax losses and capital loss carryforwards	$	177	160
Foreign tax credit carryforwards		121	98
Accrued stock compensation		30	51
Other accrued liabilities		65	19
Other future deductible amounts		110	190
Deferred tax assets		503	518
Valuation allowance		(154)	(165)
Net deferred tax assets		349	353

Deferred tax liabilities:
Investments		55	600
Intangible assets		1,123	1,188
Discount on exchangeable debentures		1,067	981
Deferred gain on debt retirements		—	43
Other		29	41
Deferred tax liabilities		2,274	2,853
Net deferred tax liabilities	$	1,925	2,500


	Years ended December 31,
	2018		2017	2016
	amounts in millions
Balance at beginning of year	$	71	72	104
Additions based on tax positions related to the current year		9	10	16
Additions for tax positions of prior years		2	4	—
Reductions for tax positions of prior years		—	—	(26)
Lapse of statute and settlements		(12)	(15)	(22)
Balance at end of year	$	70	71	72