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

Annual report pursuant to Section 13 and 15(d)

Condensed Consolidated Statements Of Operations

Condensed Consolidated Statements Of Operations - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenue:
Total revenue, net									$ 9,989	$ 10,499	$ 10,219
Operating costs and expenses:
Cost of sales									6,393	6,684	6,533
Operating expenses									699	756	732
Selling, general and administrative, including stock-based compensation									1,078	1,202	1,159
Depreciation and amortization									703	662	629
Impairment of intangible assets										7	30
Total operating costs and expenses									8,873	9,311	9,083
Operating income (loss)	$ 364	$ 247	$ 269	$ 236	$ 444	$ 239	$ 259	$ 246	1,116	1,188	1,136
Other income (expense):
Interest expense									(360)	(387)	(380)
Share of earnings (losses)ffiliates, net									(60)	39	33
Realized and unrealized gains (losses) on financial instruments, net									114	(57)	(22)
Gains (losses) on transactions, net									110	74	(1)
Gain (Loss) on Sale of Previously Unissued Stock by Subsidiary or Equity Investee, Nonoperating Income									314	(2)	1
Other, net									19	(19)	(30)
Total other income (expense)									137	(352)	(399)
Earnings (loss) from continuing operations before income taxes									1,253	836	737
Income tax (expense) benefit									(342)	(258)	(183)
Earnings (loss) from continuing operations	303	198	258	152	271	129	87	91	911	578	554
Earnings (loss) from discontinued operations, net of taxes										48	26
Net earnings (loss)									911	626	580
Less net earnings (losses) attributable to the noncontrolling interests									42	89	79
Net earnings (loss) attributable to Liberty Interactive Corporation shareholders									869	537	501
QVC Group Common Stock
Revenue:
Total revenue, net									9,169	10,028	10,219
Operating costs and expenses:
Cost of sales									5,847	6,378	6,533
Operating expenses									620	719	732
Selling, general and administrative, including stock-based compensation									875	1,075	1,140
Depreciation and amortization									657	643	629
Impairment of intangible assets										7	30
Total operating costs and expenses									7,999	8,822	9,064
Operating income (loss)									1,170	1,206	1,155
Other income (expense):
Interest expense									(283)	(312)	(290)
Share of earnings (losses)ffiliates, net									55	51	48
Realized and unrealized gains (losses) on financial instruments, net									42	(22)	(12)
Gains (losses) on transactions, net											(1)
Gain (Loss) on Sale of Previously Unissued Stock by Subsidiary or Equity Investee, Nonoperating Income										(2)	4
Other, net									(6)	(41)	(58)
Total other income (expense)									(192)	(326)	(309)
Earnings (loss) from continuing operations before income taxes									978	880	846
Income tax (expense) benefit									(304)	(306)	(346)
Earnings (loss) from continuing operations										574	500
Earnings (loss) from discontinued operations, net of taxes										(15)	(17)
Net earnings (loss)									674	559	483
Less net earnings (losses) attributable to the noncontrolling interests									34	39	45
Net earnings (loss) attributable to Liberty Interactive Corporation shareholders	$ 223	$ 154	$ 112	$ 151	$ 222	$ 83	$ 105	$ 110	$ 640	$ 520	$ 438
Earnings (Loss) Per Common Share
Income (Loss) from Continuing Operations, Per Basic Share	$ 0.45	$ 0.33	$ 0.24	$ 0.32	$ 0.47	$ 0.18	$ 0.23	$ 0.23	$ 1.35	$ 1.10	$ 0.88
Income (Loss) from Continuing Operations, Per Diluted Share	0.44	0.33	0.24	0.31	0.46	0.18	0.23	0.23	1.33	1.09	0.86
Earnings Per Share, Basic	0.45	0.33	0.24	0.32	0.47	0.17	0.22	0.22	1.35	1.07	0.85
Earnings Per Share, Diluted	$ 0.44	$ 0.33	$ 0.24	$ 0.31	$ 0.46	$ 0.17	$ 0.21	$ 0.22	$ 1.33	$ 1.06	$ 0.83
Liberty Ventures common stock
Revenue:
Total revenue, net									$ 820	$ 471
Operating costs and expenses:
Cost of sales									546	306
Operating expenses									79	37
Selling, general and administrative, including stock-based compensation									203	127	$ 19
Depreciation and amortization									46	19
Total operating costs and expenses									874	489	19
Operating income (loss)									(54)	(18)	(19)
Other income (expense):
Interest expense									(77)	(75)	(90)
Share of earnings (losses)ffiliates, net									(115)	(12)	(15)
Realized and unrealized gains (losses) on financial instruments, net									72	(35)	(10)
Gains (losses) on transactions, net									110	74
Gain (Loss) on Sale of Previously Unissued Stock by Subsidiary or Equity Investee, Nonoperating Income									314		(3)
Other, net									25	22	28
Total other income (expense)									329	(26)	(90)
Earnings (loss) from continuing operations before income taxes									275	(44)	(109)
Income tax (expense) benefit									(38)	48	163
Earnings (loss) from continuing operations										4	54
Earnings (loss) from discontinued operations, net of taxes										63	43
Net earnings (loss)									237	67	97
Less net earnings (losses) attributable to the noncontrolling interests									8	50	34
Net earnings (loss) attributable to Liberty Interactive Corporation shareholders	$ 71	$ 36	$ 130	$ (8)	$ 36	$ 37	$ (28)	$ (28)	$ 229	$ 17	$ 63
Earnings (Loss) Per Common Share
Income (Loss) from Continuing Operations, Per Basic Share	$ 0.50	$ 0.26	$ 0.92	$ (0.06)	$ 0.28	$ 0.47	$ (0.47)	$ (0.45)	$ 1.61	$ 0.03	$ 0.74
Income (Loss) from Continuing Operations, Per Diluted Share	0.50	0.25	0.91	(0.06)	0.28	0.46	(0.47)	(0.45)	1.60	0.03	0.73
Earnings Per Share, Basic	0.50	0.26	0.92	(0.06)	0.28	0.51	(0.38)	(0.38)	1.61	0.19	0.86
Earnings Per Share, Diluted	$ 0.50	$ 0.25	$ 0.91	$ (0.06)	$ 0.28	$ 0.50	$ (0.38)	$ (0.38)	$ 1.60	$ 0.19	$ 0.85