Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 327 $ 347
Restricted cash 11 12
Accounts receivable, less allowance for doubtful accounts of $86 at December 31, 2015 and $91 at December 31, 2014 1,370 1,196
Inventories 929 882
Prepaid expenses 42 50
Total current assets 2,679 2,487
Noncurrent assets:    
Property and equipment, net 1,002 1,026
Cable and satellite television distribution rights, net 339 461
Goodwill 5,035 5,091
Other intangible assets, net 2,936 3,102
Other noncurrent assets 67 58
Total assets 12,058 12,225
Current liabilities:    
Current portion of debt and capital lease obligations 9 9
Accounts payable-trade 658 629
Accrued liabilities 872 885
Total current liabilities 1,539 1,523
Noncurrent liabilities:    
Long-term portion of debt and capital lease obligations 5,393 4,579
Deferred compensation 13 17
Deferred income taxes 827 911
Other long-term liabilities 168 149
Total liabilities 7,940 7,179
QVC, Inc. stockholder's equity:    
Common stock, $0.01 par value, 1 authorized share 0 0
Additional paid-in capital 6,827 6,787
Accumulated deficit (2,669) (1,805)
Accumulated other comprehensive loss (140) (39)
Total QVC, Inc. stockholder's equity 4,018 4,943
Noncontrolling interest 100 103
Total equity 4,118 5,046
Total liabilities and equity $ 12,058 $ 12,225