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

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2022


	Years ended December 31,
	2022		2021	2020

	amounts in millions
Computed expected tax benefit (expense)	$	485	(134)	(221)
State and local income taxes, net of federal income taxes		(35)	(20)	(45)
Tax on foreign earnings, net of federal tax benefits		(15)	(113)	47
Alternative energy tax credits and incentives		—	125	139
Change in valuation allowance affecting tax expense		—	—	(59)
Change in tax rate		(8)	—	(15)
Corporate realignment		—	—	352
Non-deductible equity distribution		(41)	—	—
Impairment of intangible assets		(580)	(49)	—
Non-deductible interest on Preferred Stock to non-employee		(21)	(21)	(6)
Other, net		(9)	(5)	11
Income tax benefit (expense)	$	(224)	(217)	203


	December 31,
	2022		2021

	amounts in millions
Deferred tax assets:
Tax losses and credit carryforwards	$	246	240
Foreign tax credit carryforwards		93	95
Accrued stock compensation		15	15
Operating lease liability		104	71
Other accrued liabilities		59	63
Prepaid royalty		70	94
Other		150	131
Deferred tax assets		737	709
Valuation allowance		(264)	(264)
Net deferred tax assets		473	445

Deferred tax liabilities:
Intangible assets		675	758
Fixed assets		106	142
Discount on exchangeable debentures		970	768
Other		131	94
Deferred tax liabilities		1,882	1,762
Net deferred tax liabilities	$	1,409	1,317


	Years ended December 31,
	2022		2021	2020

	amounts in millions
Balance at beginning of year	$	88	83	75
Additions based on tax positions related to the current year		8	9	7
Additions for tax positions of prior years		12	1	7
Reductions for tax positions of prior years		(2)	(1)	(1)
Lapse of statute and settlements		(9)	(4)	(5)
Balance at end of year	$	97	88	83