Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Other Intangible Assets, Net

v3.20.1
Goodwill and Other Intangible Assets, Net
 3 Months Ended
Mar. 31, 2020
Other Intangible Assets [Abstract]  
Intangible assets disclosure
(3) Goodwill and Other Intangible Assets, Net
The changes in the carrying amount of goodwill for the three months ended March 31, 2020 were as follows:
(in millions)
QxH

QVC-International

Total

Balance as of December 31, 2019
$
5,112

859

5,971

Exchange rate fluctuations
—

(13
)
(13
)
Balance as of March 31, 2020
$
5,112

846

5,958


Other intangible assets consisted of the following:
 
March 31, 2020
 
December 31, 2019
 
(in millions)
Gross
cost

Accumulated
amortization

Other intangible assets, net

Gross
cost

Accumulated
amortization

Other intangible assets, net

Purchased and internally developed software
$
895

(622
)
273

885

(603
)
282

Affiliate and customer relationships
2,825

(2,507
)
318

2,829

(2,499
)
330

Debt origination fees
10

(3
)
7

10

(2
)
8

Trademarks (indefinite life)
2,878

—

2,878

2,878

—

2,878


$
6,608

(3,132
)
3,476

6,602

(3,104
)
3,498


The Company recorded amortization expense of $37 million and $38 million for the three months ended March 31, 2020 and 2019, respectively, related to other intangible assets.
As of March 31, 2020, the related amortization and interest expense for each of the next five years ended December 31 was as follows (in millions):
Remainder of 2020
$
127

2021
139

2022
111

2023
65

2024
62