Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.23.3
Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue:        
Total revenue, net $ 2,479 $ 2,744 $ 7,772 $ 8,580
Type of revenue us-gaap:RetailMember us-gaap:RetailMember us-gaap:RetailMember us-gaap:RetailMember
Operating costs and expenses:        
Cost of goods sold (exclusive of depreciation shown separately below) $ 1,603 $ 1,905 $ 5,146 $ 5,885
Type of cost of retail sales us-gaap:RetailMember us-gaap:RetailMember us-gaap:RetailMember us-gaap:RetailMember
Operating expense $ 186 $ 205 $ 573 $ 599
Selling, general and administrative, including stock-based compensation (note 2) 415 464 1,359 1,370
Restructuring, penalties and fire related costs, net of (recoveries) (note 8) 19 (134) (189) (123)
Depreciation and amortization 105 107 309 371
Impairment of intangible assets (note 5)   3,081   3,081
Gains on sale of intangible asset and sale leaseback transactions (note 8)   (277) (119) (520)
Total operating costs and expenses 2,328 5,351 7,079 10,663
Operating income (loss) 151 (2,607) 693 (2,083)
Other income (expense):        
Interest expense (119) (107) (336) (343)
Dividend and interest income 14 2 39 5
Realized and unrealized gains (losses) on financial instruments, net (note 4) (15) (8) (95) 29
Loss on disposition of Zulily, net     (64)  
Gain (loss) on extinguishment of debt 1 14 45 8
Tax sharing income (expense) with Liberty Broadband (4) 36 (12) 78
Other, net 5 21 13 69
Total other income (expense) (118) (42) (410) (154)
Earnings (loss) before income taxes 33 (2,649) 283 (2,237)
Income tax (expense) benefit (21) (87) (119) (265)
Net earnings (loss) 12 (2,736) 164 (2,502)
Less net earnings (loss) attributable to the noncontrolling interests 11 11 36 41
Net earnings (loss) attributable to Qurate Retail, Inc. shareholders $ 1 $ (2,747) $ 128 $ (2,543)
Earnings (Loss) Per Common Share        
Basic net earnings (loss) attributable to Series A and Series B Qurate Retail, Inc. shareholders per common share (note 3): $ 0.00 $ (7.21) $ 0.33 $ (6.69)
Diluted net earnings (loss) attributable to Series A and Series B Qurate Retail, Inc. shareholders per common share (note 3): $ 0.00 $ (7.21) $ 0.33 $ (6.69)