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

Leases (Tables)

12 Months Ended

Dec. 31, 2021


	Year ended
	December 31,
	2021		2020	2019

	in millions
Operating lease cost (1)	$	96	87	78
Finance lease cost
Depreciation of leased assets	$	19	19	20
Interest on lease liabilities		8	8	9
Total finance lease cost	$	27	27	29

(1)

Included within operating lease costs were short-term lease costs and variable lease costs, which were not material to the financial statements.


	December 31, 2021		December 31, 2020	December 31, 2019
Weighted-average remaining lease term (years):
Finance leases		7.7	8.5	9.2
Operating leases		8.3	8.5	9.1
Weighted-average discount rate:
Finance leases		5.2%	5.1%	5.0%
Operating leases		5.1%	5.1%	4.9%

Supplemental balance sheet information related to leases was as follows:


	December 31,		December 31,
	2021		2020

	in millions
Operating leases:
Operating lease ROU assets (1)	$	351	371

Current operating lease liabilities (2)	$	64	63
Operating lease liabilities (3)		303	320
Total operating lease liabilities	$	367	383

Finance Leases:
Finance lease ROU assets (4)	$	277	278
Finance lease ROU asset accumulated depreciation (4)		(151)	(141)
Finance lease ROU assets, net	$	126	137
Current finance lease liabilities (2)	$	20	18
Finance lease liabilities (3)		137	150
Total finance lease liabilities	$	157	168

(1)

Included within the Other assets, at cost, net of accumulated amortization line item on the consolidated balance sheets.

(2)

Included within the Other current liabilities line item on the consolidated balance sheets.

(3)

Included within the Other liabilities line item on the consolidated balance sheets.

(4)

Included within the Property and equipment on the consolidated balance sheets.

Supplemental cash flow information related to leases was as follows:


	Year ended
	December 31,
	2021		2020	2019

	in millions
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases	$	82	86	75
Operating cash outflows from finance leases	$	8	8	9
Financing cash outflows from finance leases	$	18	18	22
ROU assets obtained in exchange for lease obligations
Operating leases	$	49	35	173
Finance leases	$	11	—	16