Quarterly report pursuant to Section 13 or 15(d)

Information about QVC's Operating Segments (Tables)

v2.4.0.8
Information about QVC's Operating Segments (Tables)
 6 Months Ended
Jun. 30, 2014
Segment Reporting [Abstract]  
Schedule of Revenue and Adjusted OIBDA by Segment
Performance measures
 
Three months ended June 30,
 
 
Six months ended June 30,
 
 
2014
 
2013
 
 
2014
 
2013
 
(in millions)
Net
revenue

Adjusted
OIBDA

Net
revenue

Adjusted
OIBDA

 
Net
revenue

Adjusted
OIBDA

Net
revenue

Adjusted
OIBDA

QVC-U.S.
$
1,352

325

1,312

320

 
2,657

626

2,609

611

QVC-Japan
223

43

260

57

 
457

90

516

111

QVC-Germany
227

40

207

35

 
477

79

457

78

QVC-U.K.
178

33

153

26

 
343

60

293

45

QVC-Italy
34

(2
)
29

(4
)
 
66

(4
)
60

(7
)
Consolidated QVC
$
2,014

439

1,961

434

 
4,000

851

3,935

838

Schedule of Depreciation and Amortization by Segment
 
Three months ended June 30,
 
 
Six months ended June 30,
 
 
2014
 
2013
 
 
2014
 
2013
 
(in millions)
Depreciation

Amortization

Depreciation

Amortization

 
Depreciation

Amortization

Depreciation

Amortization

QVC-U.S.
$
14

99

14

91

 
27

192

27

179

QVC-Japan
4

2

5

2

 
9

4

8

4

QVC-Germany
8

8

8

9

 
16

19

16

18

QVC-U.K.
4

3

5

3

 
8

7

9

6

QVC-Italy
3

—

1

2

 
6

1

3

4

Consolidated QVC
$
33

112

33

107

 
66

223

63

211

Schedule of Capital Expenditures and Total Assets by Segment
 
Six months ended June 30,
 
Year ended December 31,
 
 
2014
 
2013
 
(in millions)
Total
assets

Capital
expenditures, net

Total
assets

Capital
expenditures, net

QVC-U.S.
$
9,933

38

10,322

123

QVC-Japan
732

(1
)
732

16

QVC-Germany
1,103

4

1,109

28

QVC-U.K.
628

6

613

16

QVC-Italy
271

10

280

28

Consolidated QVC
$
12,667

57

13,056

211

Long-Lived Assets by Segment
Long-lived assets, net of accumulated depreciation, by geographic area were as follows:
 
June 30,

December 31,

(in millions)
2014

2013

QVC-U.S.
$
436

448

QVC-Japan
218

220

QVC-Germany
225

244

QVC-U.K.
129

129

QVC-Italy
68

65

Consolidated QVC
$
1,076

1,106

Reconciliation of Adjusted OIBDA to Income before Income Taxes
The following table provides a reconciliation of Adjusted OIBDA to income before income taxes:
 
Three months ended June 30,
 
Six months ended June 30,
 
(in millions)
2014

2013

2014

2013

Adjusted OIBDA
$
439

434

851

838

Stock‑based compensation
(10
)
(9
)
(18
)
(19
)
Depreciation and amortization
(145
)
(140
)
(289
)
(274
)
Equity in losses of investee
(2
)
(2
)
(3
)
(1
)
Gains on financial instruments
—

3

—

15

Interest expense, net
(60
)
(50
)
(122
)
(113
)
Foreign currency gain (loss)
1

—

—

(1
)
Loss on extinguishment of debt
—

(16
)
—

(57
)
Income before income taxes
$
223

220

419

388