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

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2016


	Years ended December 31,
	2016		2015	2014
	amounts in millions
Computed expected tax benefit (expense)	$	(649)	(286)	(271)
State and local income taxes, net of federal income taxes		(26)	(15)	(6)
Foreign taxes, net of foreign tax credits		(9)	(4)	(2)
Sale of consolidated subsidiary		(1)	—	14
Impairment of intangible assets not deductible for tax purposes		—	—	(3)
Dividends received deductions		9	51	6
Alternative energy tax credits and incentives		94	61	58
Change in valuation allowance affecting tax expense		(16)	6	(2)
Impact of change in state rate on deferred taxes		1	(7)	(26)
Other, net		(1)	9	(5)
Income tax benefit (expense)	$	(598)	(185)	(237)


	December 31,
	2016		2015
	amounts in millions
Deferred tax assets:
Net operating and capital loss carryforwards	$	123	99
Foreign tax credit carryforwards		134	72
Accrued stock compensation		56	83
Other accrued liabilities		118	165
Other future deductible amounts		144	163
Deferred tax assets		575	582
Valuation allowance		(64)	(48)
Net deferred tax assets		511	534

Deferred tax liabilities:
Investments		1,057	598
Intangible assets		1,540	1,788
Discount on exchangeable debentures		1,404	1,148
Deferred gain on debt retirements		129	193
Other		17	24
Deferred tax liabilities		4,147	3,751
Net deferred tax liabilities	$	3,636	3,217


	Years ended December 31,
	2016		2015	2014
	amounts in millions
Balance at beginning of year	$	104	136	124
Additions based on tax positions related to the current year		16	14	16
Additions for tax positions of prior years		—	—	20
Reductions for tax positions of prior years		(26)	(12)	(3)
Lapse of statute and settlements		(22)	(34)	(21)
Balance at end of year	$	72	104	136