Annual report pursuant to Section 13 and 15(d)

Goodwill and Other Intangible Assets (Tables)

v3.24.0.1
Goodwill and Other Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2023
Goodwill and Other Intangible Assets  
Schedule of changes in the carrying amount of goodwill

    

QxH

QVC International

CBI

Corporate and Other

    

Total

 

amounts in millions

 

Balance at January 1, 2022

$

5,228

855

12

244

6,339

Foreign currency translation adjustments

(77)

(77)

Impairments

(2,535)

(226)

(2,761)

Balance at December 31, 2022

2,693

778

12

18

3,501

Foreign currency translation adjustments

7

7

Dispositions (1)

(18)

(18)

Impairments

(326)

(326)

Balance at December 31, 2023

$

2,367

785

12

3,164

(1) Zulily goodwill was eliminated as a result of the divestiture of Zulily on May 24, 2023 (see note 1).
Schedule of Intangible assets subject to amortization

December 31, 2023

December 31, 2022

 

    

Gross

    

    

    

Net

    

Gross

    

    

    

Net

 

carrying

Accumulated

carrying

carrying

Accumulated

carrying

 

amount

amortization

amount

amount

amortization

amount

 

amounts in millions

 

Television distribution rights

$

592

 

(509)

 

83

 

664

 

(592)

 

72

Customer relationships

 

2,825

 

(2,684)

 

141

 

3,307

 

(3,120)

 

187

Other

 

1,193

 

(891)

 

302

 

1,473

 

(1,120)

 

353

Total

$

4,610

 

(4,084)

 

526

 

5,444

 

(4,832)

 

612

Schedule of amortization expense for the next five years Based on its amortizable intangible assets as of December 31, 2023, Qurate Retail expects that amortization expense will be as follows for the next five years (amounts in millions):

2024

    

$

271

2025

$

155

2026

$

92

2027

$

8

2028

$