Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.21.2
Condensed Consolidated Statements of Operations - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenue:        
Total revenue, net $ 3,504 $ 3,422 $ 6,841 $ 6,342
Type of revenue us-gaap:RetailMember us-gaap:RetailMember us-gaap:RetailMember us-gaap:RetailMember
Operating costs and expenses:        
Cost of retail sales (exclusive of depreciation shown separately below) $ 2,240 $ 2,217 $ 4,435 $ 4,150
Type of cost of retail sales us-gaap:RetailMember us-gaap:RetailMember us-gaap:RetailMember us-gaap:RetailMember
Operating expense $ 217 $ 209 $ 423 $ 402
Selling, general and administrative, including stock-based compensation (note 2) 485 447 920 868
Depreciation and amortization 129 144 257 286
Total operating costs and expenses 3,071 3,017 6,035 5,706
Operating income (loss) 433 405 806 636
Other income (expense):        
Interest expense (118) (95) (235) (192)
Share of earnings (loss) of affiliates, net (22) (28) (54) (64)
Realized and unrealized gains (losses) on financial instruments, net (note 4) 19 23 60 (115)
Other, net (23) (12) (10) 1
Total other income (expense) (144) (112) (239) (370)
Earnings (loss) before income taxes 289 293 567 266
Income tax (expense) benefit (39) (59) (93) (41)
Net earnings (loss) 250 234 474 225
Less net earnings (loss) attributable to the noncontrolling interests 28 14 46 25
Net earnings (loss) attributable to Qurate Retail, Inc. shareholders $ 222 $ 220 $ 428 $ 200
Earnings (Loss) Per Common Share        
Basic net earnings (loss) attributable to Series A and Series B Qurate Retail, Inc. shareholders per common share (note 3): $ 0.54 $ 0.53 $ 1.04 $ 0.48
Diluted net earnings (loss) attributable to Series A and Series B Qurate Retail, Inc. shareholders per common share (note 3): $ 0.52 $ 0.53 $ 1.01 $ 0.48