Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 445 $ 347
Restricted cash 12 12
Accounts receivable, less allowance for doubtful accounts of $85 at June 30, 2015 and $91 at December 31, 2014 799 1,196
Inventories 964 882
Deferred income taxes 210 210
Prepaid expenses 57 50
Total current assets 2,487 2,697
Noncurrent assets:    
Property and equipment, net of accumulated depreciation of $901 at June 30, 2015 and $884 at December 31, 2014 982 1,026
Cable and satellite television distribution rights, net 409 461
Goodwill 5,049 5,091
Other intangible assets, net 3,037 3,143
Other noncurrent assets 61 58
Total assets 12,025 12,476
Current liabilities:    
Current portion of debt and capital lease obligations 9 9
Accounts payable-trade 566 629
Accrued liabilities 689 885
Total current liabilities 1,264 1,523
Noncurrent liabilities:    
Long-term portion of debt and capital lease obligations 4,507 4,620
Deferred compensation 13 17
Deferred income taxes 1,079 1,121
Other long-term liabilities 170 149
Total liabilities 7,033 7,430
QVC, Inc. stockholder's equity:    
Common stock, $0.01 par value, 1 authorized share 0 0
Additional paid-in capital 6,807 6,787
Accumulated deficit (1,796) (1,805)
Accumulated other comprehensive loss (116) (39)
Total QVC, Inc. stockholder's equity 4,895 4,943
Noncontrolling interest 97 103
Total equity 4,992 5,046
Total liabilities and equity $ 12,025 $ 12,476