Qurate Retail, Inc.
Reconciliation of Qurate Retail, Inc. ("Qurate Retail") Net Assets and
Net Earnings to Liberty Interactive LLC ("Liberty LLC") Net Assets and Net Earnings
September 30, 2018
(unaudited)
amounts in millions
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|
|
|
|
Qurate Retail Net Assets |
|
$ |
5,757 |
|
|
Reconciling items: |
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|
|
|
|
zulily, llc ("zulily") net assets |
|
|
(1,517) |
|
|
HSN, Inc. ("HSNi") net assets (1) |
|
|
(2,106) |
|
|
Equity investment in HSNi held by Liberty LLC (1) |
|
|
265 |
|
|
Tax sharing agreement with GCI Liberty, Inc. |
|
|
111 |
|
|
Liberty LLC Net Assets |
|
$ |
2,510 |
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|
|
|
|
|
|
|
Qurate Retail Net Earnings |
|
$ |
677 |
|
|
Reconciling items: |
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|
|
|
|
zulily net (earnings) loss |
|
|
65 |
|
|
HSNi net (earnings) loss (1) |
|
|
(9) |
|
|
GCI Liberty, Inc. tax sharing expense |
|
|
(25) |
|
|
Liberty LLC Net Earnings |
|
$ |
708 |
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|
|
|
|
|
|
|
(1) |
On December 29, 2017, Qurate Retail acquired the approximate remaining 62% of HSNi it did not already own. Liberty LLC continues to hold 38% of HSNi and accounts for its ownership in HSNi as an equity method investment. |