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

Goodwill and Other Intangible Assets (Tables)

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Other Intangible Assets

Schedule of changes in the carrying amount of goodwill


	QxH		QVC International	Zulily	Corporate and Other	Total
	amounts in millions
Balance at January 1, 2018	$	5,238	885	917	42	7,082
Foreign currency translation adjustments		—	(25)	—	—	(25)
Disposition (1)		—	—	—	(26)	(26)
Other (2)		(10)	—	—	(4)	(14)
Balance at December 31, 2018		5,228	860	917	12	7,017
Foreign currency translation adjustments		—	(1)	—	—	(1)
Impairment (3)		—	—	(440)	—	(440)
Balance at December 31, 2019	$	5,228	859	477	12	6,576

(1)	As a result of the GCI Liberty Split-Off on March 9, 2018, the Company disposed of its wholly-owned subsidiary Evite, resulting in a $26 million decrease to goodwill.

(2)	As discussed in note 4, the preliminary purchase price allocation for the HSN acquisition was adjusted, resulting in a decrease to goodwill.

(3)	See discussion of the 2019 impairment below.

Schedule of Intangible assets subject to amortization


	December 31, 2019				December 31, 2018
	Gross			Net	Gross		Net
	carrying		Accumulated	carrying	carrying	Accumulated	carrying
	amount		amortization	amount	amount	amortization	amount
	amounts in millions
Television distribution rights	$	764	(624)	140	723	(583)	140
Customer relationships		3,319	(2,891)	428	3,320	(2,768)	552
Other		1,343	(956)	387	1,329	(963)	366
Total	$	5,426	(4,471)	955	5,372	(4,314)	1,058

Schedule of amortization expense for the next five years

Based on its amortizable intangible assets as of December 31, 2019, Qurate Retail expects that amortization expense will be as follows for the next five years (amounts in millions):


2020	$	319
2021	$	230
2022	$	143
2023	$	87
2024	$	74