Annual report pursuant to Section 13 and 15(d)

Related Party Transactions (Notes)

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Related Party Transactions (Notes)
 12 Months Ended
Dec. 31, 2019
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block]
Related Party Transactions
During the years ended December 31, 2019, 2018 and 2017, QVC and Zulily engaged in multiple transactions relating to sales, sourcing of merchandise, marketing initiatives, and business advisory services. QVC allocated expenses of $7 million, $5 million, and $4 million to Zulily for the years ended December 31, 2019, 2018, and 2017, respectively. Zulily allocated expenses of $9 million, $6 million, and $5 million to QVC for the years ended December 31, 2019, 2018, and 2017, respectively.
Additionally, on June 23, 2016, QVC amended and restated its senior secured credit facility by entering into the Third Amended and Restated Credit Agreement adding a tranche that allows joint borrowing capacity for either QVC or Zulily and increasing the revolving credit facility from $2.25 billion to $2.65 billion. QVC subsequently amended and restated its senior secured credit facility by entering into the Fourth Amended and Restated Credit Agreement, increasing the revolving credit facility to $3.65 billion (which was reduced to $2.95 billion, effective February 4, 2020 upon the closing of QVC's offering of the 2027 Notes). See note 8 for more information regarding the revolving credit facility. In accordance with the accounting guidance for obligations resulting from joint and several liability arrangements, QVC will record a liability for amounts it has borrowed under the credit facility plus any additional amount it expects to repay on behalf of Zulily. As of December 31, 2019, there was $130 million borrowed by Zulily on the $400 million tranche of the senior secured credit facility, none of which the Company expects to repay on behalf of Zulily. In addition, Zulily had $9 million outstanding in standby letters of credit as of December 31, 2019.
During the years ended December 31, 2019 and 2018, QVC and CBI engaged in multiple transactions relating to personnel and business advisory services. QVC allocated expenses of $28 million and $50 million to CBI for the years ended December 31, 2019 and 2018, respectively. CBI allocated expenses of $1 million and $5 million to QVC for the years ended December 31, 2019 and 2018, respectively. CBI also repaid a $29 million note receivable to QVC during the year ended December 31, 2019.