Qurate Retail, Inc. Quarterly report pursuant to Section 13 or 15(d)

Investments In Affiliates Accounted For Using The Equity Method (Tables)

Investments In Affiliates Accounted For Using The Equity Method (Tables)

9 Months Ended

Sep. 30, 2015

Investments In Affiliates Accounted For Using The Equity Method

Schedule Of Equity Ownership And Carrying Amount


							December 31,
	September 30, 2015						2014
	Percentage		Fair value		Carrying		Carrying
	ownership		(Level 1)		amount		amount
			dollar amounts in millions
QVC Group
HSN, Inc. (1)	38	%	$	1,146	$	159	328
Other	various			NA		45	47
Total QVC Group						204	375
Ventures Group
Expedia, Inc.	18	%	$	2,778		626	514
FTD Companies, Inc.	36	%		304		343	355
Other	various			NA		333	389
Total Ventures Group						1,302	1,258
Consolidated Liberty					$	1,506	1,633

(1)

As further discussed in note 10, HSN, Inc. (“HSNi”) declared a special dividend during January 2015 of $10 per share from which Liberty received approximately $200 million in cash during February 2015. Accordingly, the carrying amount of Liberty’s investment in HSNi was reduced by this return of our investment during the period.

Schedule Of Liberty's Share Of Earnings (Losses) Of Affiliates

	Three months ended September 30,			Nine months ended September 30,
	2015		2014	2015	2014
	amounts in millions
QVC Group
HSN, Inc.	$	15	15	52	46
Other		(2)	(2)	(6)	(5)
Total QVC Group		13	13	46	41
Ventures Group
Expedia, Inc.		45	38	125	42
FTD Companies, Inc. (1)		(14)	NA	(9)	NA
Other		(13)	(15)	(41)	(45)
Total Ventures Group		18	23	75	(3)
Consolidated Liberty	$	31	36	121	38

As discussed in note 3, on December 31, 2014, Liberty completed a transaction with FTD for Provide, which was one of Liberty’s wholly-owned Digital Commerce businesses (as defined in note 2). Under the terms of the transaction, Liberty received approximately 10.2 million shares of FTD common stock representing approximately 35% of the combined company and approximately $145 million in cash (the “FTD Transaction”). Subsequent to completion of the transaction, Liberty accounts for FTD as an equity-method affiliate based on the ownership level and board representation.