| Other Comprehensive Income The change in the component of accumulated other comprehensive loss, net of taxes ("AOCL"), is summarized as follows:
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|
|
|
|
|
|
|
|
|
|
|
| (in millions) |
Comprehensive earnings attributable to debt credit risk adjustments |
Foreign currency translation adjustments |
AOCL |
| Balance at January 1, 2021 |
$ |
16 |
|
(33) |
|
(17) |
|
| Other comprehensive income attributable to QVC, Inc. stockholder |
(13) |
|
(65) |
|
(78) |
|
| Balance at March 31, 2021 |
3 |
|
(98) |
|
(95) |
|
|
|
|
|
| Balance at January 1, 2020 |
$ |
— |
|
(144) |
|
(144) |
|
| Other comprehensive loss attributable to QVC, Inc. stockholder |
— |
|
(23) |
|
(23) |
|
| Balance at March 31, 2020 |
— |
|
(167) |
|
(167) |
|
The component of other comprehensive income is reflected in QVC's condensed consolidated statements of comprehensive income, net of taxes. The following table summarizes the tax effects related to the component of other comprehensive loss:
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|
|
| (in millions) |
Before-tax amount |
Tax benefit (expense) |
Net-of-tax amount |
| Three months ended March 31, 2021 |
|
|
|
| Foreign currency translation adjustments |
$ |
(72) |
|
(1) |
|
(73) |
|
| Debt credit risk adjustment |
(13) |
|
— |
|
(13) |
|
| Other comprehensive income |
(85) |
|
(1) |
|
(86) |
|
|
|
|
|
| Three months ended March 31, 2020 |
|
|
|
| Foreign currency translation adjustments |
$ |
(23) |
|
1 |
|
(22) |
|
| Other comprehensive loss |
(23) |
|
1 |
|
(22) |
|
|