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

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023


	Years ended December 31,
	2023		2022	2021

	amounts in millions
Computed expected tax benefit (expense)	$	(14)	485	(134)
State and local income taxes, net of federal income taxes		(21)	(35)	(20)
Tax on foreign earnings, net of federal tax benefits		(24)	(15)	(113)
Alternative energy tax credits and incentives		—	—	125
Change in tax rate		16	(8)	—
Non-deductible equity distribution		—	(41)	—
Impairment of non-deductible goodwill		(68)	(580)	(49)
Non-deductible interest on Preferred Stock		(21)	(21)	(21)
Stock compensation		(17)	(6)	2
Other, net		(11)	(3)	(7)
Income tax benefit (expense)	$	(160)	(224)	(217)


	December 31,
	2023		2022

	amounts in millions
Deferred tax assets:
Tax losses and credit carryforwards	$	297	246
Foreign tax credit carryforwards		99	93
Accrued stock compensation		7	15
Operating lease liability		129	104
Other accrued liabilities		36	59
Prepaid royalty		68	70
Other		133	150
Deferred tax assets		769	737
Valuation allowance		(264)	(264)
Net deferred tax assets		505	473

Deferred tax liabilities:
Intangible assets		686	675
Fixed assets		106	106
Discount on exchangeable debentures		1,053	970
Other		159	131
Deferred tax liabilities		2,004	1,882
Net deferred tax liabilities	$	1,499	1,409


	Years ended December 31,
	2023		2022	2021

	amounts in millions
Balance at beginning of year	$	97	88	83
Additions based on tax positions related to the current year		5	8	9
Additions for tax positions of prior years		1	12	1
Reductions for tax positions of prior years		(3)	(2)	(1)
Lapse of statute and settlements		(33)	(9)	(4)
Balance at end of year	$	67	97	88