Guarantor/Non-Guarantor Subsidiary Financial Information (Statement of Operations) (Details) - USD ($) |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
Condensed Financial Statements, Captions [Line Items] | ||||
Net revenue | $ 2,063,000,000 | $ 1,998,000,000 | $ 4,076,000,000 | $ 3,936,000,000 |
Cost of goods sold | 1,285,000,000 | 1,234,000,000 | 2,565,000,000 | 2,455,000,000 |
Gross profit | 778,000,000 | 764,000,000 | 1,511,000,000 | 1,481,000,000 |
Operating expenses: | ||||
Operating | 146,000,000 | 143,000,000 | 288,000,000 | 280,000,000 |
Selling, general and administrative, including stock-based compensation | 179,000,000 | 179,000,000 | 361,000,000 | 360,000,000 |
Depreciation | 31,000,000 | 35,000,000 | 65,000,000 | 68,000,000 |
Amortization | 115,000,000 | 113,000,000 | 229,000,000 | 233,000,000 |
Operating expenses | 471,000,000 | 470,000,000 | 943,000,000 | 941,000,000 |
Operating income | 307,000,000 | 294,000,000 | 568,000,000 | 540,000,000 |
Other (expense) income: | ||||
Equity in losses of investee | (1,000,000) | (3,000,000) | (2,000,000) | (4,000,000) |
Interest expense, net | (54,000,000) | (50,000,000) | (107,000,000) | (109,000,000) |
Foreign currency gain (loss) | 20,000,000 | (11,000,000) | 22,000,000 | (1,000,000) |
Loss on extinguishment of debt | 0 | (21,000,000) | 0 | (21,000,000) |
Intercompany interest (expense) income | 0 | 0 | 0 | 0 |
Nonoperating expense | (35,000,000) | (85,000,000) | (87,000,000) | (135,000,000) |
Income before income taxes | 272,000,000 | 209,000,000 | 481,000,000 | 405,000,000 |
Income tax expense | (106,000,000) | (85,000,000) | (186,000,000) | (157,000,000) |
Equity in earnings of subsidiaries, net of tax | 0 | 0 | 0 | 0 |
Net income | 166,000,000 | 124,000,000 | 295,000,000 | 248,000,000 |
Less net income attributable to the noncontrolling interest | (11,000,000) | (8,000,000) | (19,000,000) | (17,000,000) |
Net income attributable to QVC, Inc. stockholder | 155,000,000 | 116,000,000 | 276,000,000 | 231,000,000 |
Parent issuer- QVC, Inc. | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Net revenue | 1,459,000,000 | 1,432,000,000 | 2,903,000,000 | 2,812,000,000 |
Cost of goods sold | 871,000,000 | 856,000,000 | 1,747,000,000 | 1,715,000,000 |
Gross profit | 588,000,000 | 576,000,000 | 1,156,000,000 | 1,097,000,000 |
Operating expenses: | ||||
Operating | 93,000,000 | 84,000,000 | 202,000,000 | 172,000,000 |
Selling, general and administrative, including stock-based compensation | 264,000,000 | 275,000,000 | 527,000,000 | 532,000,000 |
Depreciation | 13,000,000 | 11,000,000 | 25,000,000 | 21,000,000 |
Amortization | 60,000,000 | 60,000,000 | 120,000,000 | 119,000,000 |
Operating expenses | 430,000,000 | 430,000,000 | 874,000,000 | 844,000,000 |
Operating income | 158,000,000 | 146,000,000 | 282,000,000 | 253,000,000 |
Other (expense) income: | ||||
Equity in losses of investee | 0 | 0 | 0 | 0 |
Interest expense, net | (54,000,000) | (49,000,000) | (107,000,000) | (107,000,000) |
Foreign currency gain (loss) | 6,000,000 | (6,000,000) | 9,000,000 | 8,000,000 |
Loss on extinguishment of debt | (21,000,000) | (21,000,000) | ||
Intercompany interest (expense) income | (1,000,000) | 0 | (1,000,000) | (6,000,000) |
Nonoperating expense | (49,000,000) | (76,000,000) | (99,000,000) | (126,000,000) |
Income before income taxes | 109,000,000 | 70,000,000 | 183,000,000 | 127,000,000 |
Income tax expense | (42,000,000) | (14,000,000) | (70,000,000) | (40,000,000) |
Equity in earnings of subsidiaries, net of tax | 99,000,000 | 68,000,000 | 182,000,000 | 161,000,000 |
Net income | 166,000,000 | 124,000,000 | 295,000,000 | 248,000,000 |
Less net income attributable to the noncontrolling interest | (11,000,000) | (8,000,000) | (19,000,000) | (17,000,000) |
Net income attributable to QVC, Inc. stockholder | 155,000,000 | 116,000,000 | 276,000,000 | 231,000,000 |
Combined subsidiary guarantors | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Net revenue | 231,000,000 | 220,000,000 | 464,000,000 | 422,000,000 |
Cost of goods sold | 36,000,000 | 23,000,000 | 78,000,000 | 48,000,000 |
Gross profit | 195,000,000 | 197,000,000 | 386,000,000 | 374,000,000 |
Operating expenses: | ||||
Operating | 60,000,000 | 61,000,000 | 119,000,000 | 118,000,000 |
Selling, general and administrative, including stock-based compensation | 0 | 0 | 0 | 0 |
Depreciation | 2,000,000 | 1,000,000 | 4,000,000 | 4,000,000 |
Amortization | 44,000,000 | 41,000,000 | 84,000,000 | 81,000,000 |
Operating expenses | 106,000,000 | 103,000,000 | 207,000,000 | 203,000,000 |
Operating income | 89,000,000 | 94,000,000 | 179,000,000 | 171,000,000 |
Other (expense) income: | ||||
Equity in losses of investee | 0 | 0 | 0 | 0 |
Interest expense, net | 0 | 0 | 0 | 0 |
Foreign currency gain (loss) | 0 | (13,000,000) | 0 | (13,000,000) |
Loss on extinguishment of debt | 0 | 0 | ||
Intercompany interest (expense) income | 0 | (20,000,000) | 1,000,000 | (9,000,000) |
Nonoperating expense | 0 | (33,000,000) | 1,000,000 | (22,000,000) |
Income before income taxes | 89,000,000 | 61,000,000 | 180,000,000 | 149,000,000 |
Income tax expense | (33,000,000) | (38,000,000) | (59,000,000) | (63,000,000) |
Equity in earnings of subsidiaries, net of tax | 50,000,000 | 28,000,000 | 82,000,000 | 39,000,000 |
Net income | 106,000,000 | 51,000,000 | 203,000,000 | 125,000,000 |
Less net income attributable to the noncontrolling interest | 0 | 0 | 0 | 0 |
Net income attributable to QVC, Inc. stockholder | 106,000,000 | 51,000,000 | 203,000,000 | 125,000,000 |
Combined non-guarantor subsidiaries | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Net revenue | 682,000,000 | 640,000,000 | 1,347,000,000 | 1,297,000,000 |
Cost of goods sold | 420,000,000 | 382,000,000 | 829,000,000 | 768,000,000 |
Gross profit | 262,000,000 | 258,000,000 | 518,000,000 | 529,000,000 |
Operating expenses: | ||||
Operating | 68,000,000 | 71,000,000 | 140,000,000 | 142,000,000 |
Selling, general and administrative, including stock-based compensation | 107,000,000 | 98,000,000 | 210,000,000 | 195,000,000 |
Depreciation | 16,000,000 | 23,000,000 | 36,000,000 | 43,000,000 |
Amortization | 11,000,000 | 12,000,000 | 25,000,000 | 33,000,000 |
Operating expenses | 202,000,000 | 204,000,000 | 411,000,000 | 413,000,000 |
Operating income | 60,000,000 | 54,000,000 | 107,000,000 | 116,000,000 |
Other (expense) income: | ||||
Equity in losses of investee | (1,000,000) | (3,000,000) | (2,000,000) | (4,000,000) |
Interest expense, net | 0 | (1,000,000) | 0 | (2,000,000) |
Foreign currency gain (loss) | 14,000,000 | 8,000,000 | 13,000,000 | 4,000,000 |
Loss on extinguishment of debt | 0 | 0 | ||
Intercompany interest (expense) income | 1,000,000 | 20,000,000 | 0 | 15,000,000 |
Nonoperating expense | 14,000,000 | 24,000,000 | 11,000,000 | 13,000,000 |
Income before income taxes | 74,000,000 | 78,000,000 | 118,000,000 | 129,000,000 |
Income tax expense | (31,000,000) | (33,000,000) | (57,000,000) | (54,000,000) |
Equity in earnings of subsidiaries, net of tax | 0 | 47,000,000 | 0 | 47,000,000 |
Net income | 43,000,000 | 92,000,000 | 61,000,000 | 122,000,000 |
Less net income attributable to the noncontrolling interest | (11,000,000) | (8,000,000) | (19,000,000) | (17,000,000) |
Net income attributable to QVC, Inc. stockholder | 32,000,000 | 84,000,000 | 42,000,000 | 105,000,000 |
Elimination | ||||
Condensed Financial Statements, Captions [Line Items] | ||||
Net revenue | (309,000,000) | (294,000,000) | (638,000,000) | (595,000,000) |
Cost of goods sold | (42,000,000) | (27,000,000) | (89,000,000) | (76,000,000) |
Gross profit | (267,000,000) | (267,000,000) | (549,000,000) | (519,000,000) |
Operating expenses: | ||||
Operating | (75,000,000) | (73,000,000) | (173,000,000) | (152,000,000) |
Selling, general and administrative, including stock-based compensation | (192,000,000) | (194,000,000) | (376,000,000) | (367,000,000) |
Depreciation | 0 | 0 | 0 | |
Amortization | 0 | 0 | 0 | |
Operating expenses | (267,000,000) | (267,000,000) | (549,000,000) | (519,000,000) |
Operating income | 0 | 0 | 0 | 0 |
Other (expense) income: | ||||
Equity in losses of investee | 0 | 0 | 0 | |
Interest expense, net | 0 | 0 | 0 | 0 |
Foreign currency gain (loss) | 0 | 0 | 0 | |
Loss on extinguishment of debt | 0 | 0 | ||
Intercompany interest (expense) income | 0 | 0 | 0 | 0 |
Nonoperating expense | 0 | 0 | 0 | 0 |
Income before income taxes | 0 | 0 | 0 | 0 |
Income tax expense | 0 | 0 | 0 | 0 |
Equity in earnings of subsidiaries, net of tax | (149,000,000) | (143,000,000) | (264,000,000) | (247,000,000) |
Net income | (149,000,000) | (143,000,000) | (264,000,000) | (247,000,000) |
Less net income attributable to the noncontrolling interest | 11,000,000 | 8,000,000 | 19,000,000 | 17,000,000 |
Net income attributable to QVC, Inc. stockholder | $ (138,000,000) | $ (135,000,000) | $ (245,000,000) | $ (230,000,000) |