Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements Of Operations

v3.5.0.2
Condensed Consolidated Statements Of Operations - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Revenue:        
Total revenue, net $ 2,563 $ 2,252 $ 5,073 $ 4,466
Operating costs and expenses:        
Cost of sales 1,621 1,409 3,247 2,824
Operating expenses 177 166 347 326
Selling, general and administrative, including stock-based compensation 294 247 602 482
Depreciation and amortization 221 161 438 329
Total operating costs and expenses 2,313 1,983 4,634 3,961
Operating income (loss) 250 269 439 505
Other income (expense):        
Interest expense (92) (90) (185) (185)
Share of earnings (losses) of affiliates, net   87 (21) 90
Realized and unrealized gains (losses) on financial instruments, net 343 32 336 28
Gains (losses) on transactions, net 2 111 9 111
Other, net 99 (29) 126 (14)
Total other income (expense) 352 111 265 30
Earnings (loss) before income taxes 602 380 704 535
Income tax (expense) benefit (215) (122) (246) (125)
Net earnings (loss) 387 258 458 410
Less net earnings (losses) attributable to the noncontrolling interests 11 16 19 25
Net earnings (loss) attributable to Liberty Interactive Corporation shareholders 376 242 439 385
QVC Group Common Stock        
Revenue:        
Total revenue, net 2,424 1,998 4,791 3,936
Operating costs and expenses:        
Cost of sales 1,538 1,234 3,073 2,455
Operating expenses 157 142 310 280
Selling, general and administrative, including stock-based compensation 261 189 525 379
Depreciation and amortization 214 149 423 301
Total operating costs and expenses 2,170 1,714 4,331 3,415
Operating income (loss) 254 284 460 521
Other income (expense):        
Interest expense (71) (70) (147) (145)
Share of earnings (losses) of affiliates, net 9 9 30 33
Realized and unrealized gains (losses) on financial instruments, net 5 8 4 (2)
Other, net 20 (31) 25 (23)
Total other income (expense) (37) (84) (88) (137)
Earnings (loss) before income taxes 217 200 372 384
Income tax (expense) benefit (79) (80) (136) (104)
Net earnings (loss) 138 120 236 280
Less net earnings (losses) attributable to the noncontrolling interests 11 8 19 17
Net earnings (loss) attributable to Liberty Interactive Corporation shareholders $ 127 $ 112 $ 217 $ 263
Earnings (Loss) Per Common Share        
Earnings Per Share, Basic $ 0.27 $ 0.24 $ 0.45 $ 0.56
Earnings Per Share, Diluted $ 0.26 $ 0.24 $ 0.44 $ 0.55
Liberty Ventures common stock        
Revenue:        
Total revenue, net $ 139 $ 254 $ 282 $ 530
Operating costs and expenses:        
Cost of sales 83 175 174 369
Operating expenses 20 24 37 46
Selling, general and administrative, including stock-based compensation 33 58 77 103
Depreciation and amortization 7 12 15 28
Total operating costs and expenses 143 269 303 546
Operating income (loss) (4) (15) (21) (16)
Other income (expense):        
Interest expense (21) (20) (38) (40)
Share of earnings (losses) of affiliates, net (9) 78 (51) 57
Realized and unrealized gains (losses) on financial instruments, net 338 24 332 30
Gains (losses) on transactions, net 2 111 9 111
Other, net 79 2 101 9
Total other income (expense) 389 195 353 167
Earnings (loss) before income taxes 385 180 332 151
Income tax (expense) benefit (136) (42) (110) (21)
Net earnings (loss) 249 138 222 130
Less net earnings (losses) attributable to the noncontrolling interests   8   8
Net earnings (loss) attributable to Liberty Interactive Corporation shareholders $ 249 $ 130 $ 222 $ 122
Earnings (Loss) Per Common Share        
Earnings Per Share, Basic $ 1.75 $ 0.92 $ 1.56 $ 0.87
Earnings Per Share, Diluted $ 1.74 $ 0.91 $ 1.55 $ 0.85