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

Leases (Tables)

12 Months Ended

Dec. 31, 2020


	Year ended
	December 31, 2020		December 31, 2019

	in millions
Operating lease cost (1)	$	87	78
Finance lease cost
Depreciation of leased assets	$	19	20
Interest on lease liabilities		8	9
Total finance lease cost	$	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, 2020		December 31, 2019
Weighted-average remaining lease term (years):
Finance leases		8.5	9.2
Operating leases		8.5	9.1
Weighted-average discount rate:
Finance leases		5.1%	5.0%
Operating leases		5.1%	4.9%

Supplemental balance sheet information related to leases was as follows:


	December 31,		December 31,
	2020		2019

	in millions
Operating leases:
Operating lease ROU assets (1)	$	371	397

Current operating lease liabilities (2)	$	63	64
Operating lease liabilities (3)		320	349
Total operating lease liabilities	$	383	413

Finance Leases:
Finance lease ROU assets (4)	$	278	282
Finance lease ROU asset accumulated depreciation (4)		(141)	(129)
Finance lease ROU assets, net	$	137	153
Current finance lease liabilities (2)	$	18	18
Finance lease liabilities (3)		150	163
Total finance lease liabilities	$	168	181

(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, net line item on the consolidated balance sheets.

Supplemental cash flow information related to leases was as follows:


	Year ended
	December 31,
	2020		2019

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